TCR_Public/151203.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, December 3, 2015, Vol. 19, No. 337

                            Headlines

1001 PRINCESS: Voluntary Chapter 11 Case Summary
33 PECK: Two Manhattan Hotel Properties Up for Sale
ALBERTSONS COMPANIES: Moody's Assigns B1 CFR, Outlook Stable
ALBERTSONS COMPANIES: S&P Assigns Prelim. 'B+' CCR, Outlook Pos.
ASSET ACQUISITION: Case Summary & 3 Largest Unsecured Creditors

ATLANTIC & PACIFIC: Brixmor to Acquire Nesconset Store for $525K
ATLANTIC & PACIFIC: Judge Okays Sale of Belleville Store to BX&M
ATLANTIC & PACIFIC: Nicholas Markets to Acquire Pascack Store
ATLANTIC & PACIFIC: Shanghai, 2 Others Buying Assets for $5.3-Mil.
B&L EQUIPMENT: Files Schedules of Assets and Liabilities

BG MEDICINE: Amends License & Distribution Agreement with Abbott
BON-TON STORES: S&P Lowers CCR to 'CCC+', Outlook Negative
BROADWAY FINANCIAL: OCC Rescinds Bank Consent Order
BROOKE CORP: SpiritBank Held Liable for $2M to Trustee
BUILDING MATERIALS: S&P Raises CCR to 'B+' After Merger Close

CAESARS ENTERTAINMENT: Objects to Claimholders' Litigation Push
CCH JOHN EAGAN: Case Summary & 20 Largest Unsecured Creditors
CENTRAL ENERGY: Sells Assets of Regional; To be Dissolved
CIT GROUP: Fitch Affirms 'BB+/B' Issuer Default Ratings
CLOUDBREAK ENTERTAINMENT: Case Summary & 13 Top Unsec Creditors

CLUBCORP CLUB: Moody's Affirms B1 CFR & Rates Upsized Revolver Ba1
CLUBCORP CLUB: S&P Affirms 'B+' CCR, Outlook Stable
COCO BEACH: Can Sell Golf & Country Club to OHG for $2.2-Mil.
COCO BEACH: OHorizons Buys PR Golf Club for $2.2M
COCO BEACH: Seeks to Consign $2.2MM in Estate Funds to Court

CTI BIOPHARMA: Has Est. Net Financial Standing of $25M at Oct. 31
DALLAS PROTON: Creditors' Committee Taps Pronske Goolsby as Counsel
DALLAS PROTON: Parties Balk at Gardere Employment
DENISSE MARTINEZ: Bid for Leave to File Interlocutory Appeal Denied
E. H. MITCHELL: Court Confirms Third Amended Plan

EASTMOND & SONS: Case Summary & 20 Largest Unsecured Creditors
EASTMOND & SONS: Files for Chapter 11 to Avoid Foreclosure
EASTMOND & SONS: Seeks Joint Administration of Cases
EASTMOND & SONS: Wants to Use Secured Parties' Cash Collateral
EDELMAN FINANCIAL: Moody's Assigns B1 CFR, Outlook Stable

EDELMAN FINANCIAL: S&P Assigns 'B+' ICR, Outlook Stable
EDUCATION REALTY: S&P Raises Corp. Credit Rating From BB+
EHC LLC: Case Summary & 16 Largest Unsecured Creditors
ELBIT IMAGING: Korean MFDS OKs Exablate Neuro System Treatment
ELBIT IMAGING: Reports Third Quarter Results for 2015

EMERALD ISLE: Files Schedules of Assets and Liabilities
EMPRESAS PLAYA: Case Summary & 16 Largest Unsecured Creditors
ENERGY FUTURE: Judge Approves Major Peace Deals in Plan Fight
ESSIE JAMES: Bid to Dismiss TILA Claim Granted
EXPEDIA INC: Moody's Assigns Ba1 Rating on New Sr. Unsecured Notes

FOREST PARK MEDICAL: Dallas, Fort Worth Hospitals in Ch 11 Bankr.
FRESH PRODUCE: Taps Hein & Associates to Prepare Tax Returns
FUWEI FILMS: Receives Nasdaq Listing Non-Compliance Notice
GARLOCK SEALING: Files More Omnibus Objections to Asbestos Claims
GCC-CHASE LLC: Case Summary & 18 Largest Unsecured Creditors

GCC-COURTYARD: Case Summary & 15 Largest Unsecured Creditors
GCC-LANDINGS: Case Summary & 20 Largest Unsecured Creditors
GCC-SHARONRIDGE: Case Summary & 20 Largest Unsecured Creditors
GO YE VILLAGE: Files Schedules of Assets and Liabilities
GO YE VILLAGE: Hires Doerner Saunders as Counsel

GO YE VILLAGE: Restricting Access to Employee Information
GREENSBORO LLC: Case Summary & 20 Largest Unsecured Creditors
GRM BAY WASH: Case Summary & 20 Largest Unsecured Creditors
HMK MATTRESS: Moody's Puts 'B3' CFR Under Review for Upgrade
HUNTER HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors

IMH FINANCIAL: Maturity of SRE Loan Extended to Jan. 2016
INTEGRATED BIOPHARMA: Shareholders Elect 3 Directors
ISOLA USA: S&P Withdraws 'CCC+' Corporate Credit Rating
KINDER MORGAN: Moody's Affirms 'Ba2' Preferred Stock Rating
KRATON PERFORMANCE: Moody's Cuts CFR to B1 on Arizona Chemical Deal

KRATON PERFORMANCE: S&P Lowers CCR to 'B', Outlook Stable
LEHMAN BROTHERS: Counsel Says NY Court Can Hear $17M Claim vs. ANZ
LOCATION BASED: Eliminates Part-Time CFO Position
LYONDELL CHEMICAL: Shareholders Bids to Junk Claims Partially OK'd
MATTRESS FIRM: S&P Puts 'B+' CCR on CreditWatch Negative

MATTRESS HOLDING: Moody's Affirms B1 CFR on Sleepy's Announcement
MCCLATCHY COMPANY: Moody's Affirms Caa1 CFR, Outlook Stable
MEDNAX INC: Moody's Assigns Ba2 CFR, Outlook Stable
MMM HOLDINGS: S&P Raises CCR & Sec. Debt Rating to 'B-'
MOLYCORP INC: May Have to Sell Assets to Repay Debt

MORTGAGE FUND '08: Montgomery Wins Summary Judgment Bid
NATIVE WHOLESALE: Court Affirms June 29 Judgment Order
NAVIOS SOUTH AMERICAN: S&P Lowers Corporate Credit Rating to 'B'
NEWLEAD HOLDINGS: Annual General Meeting Set for Dec. 23
NGL ENERGY: Moody's Assigns B2 Rating on New $300MM Unsecured Notes

NUANCE COMMUNICATIONS: Proposed Notes No Impact on Moody's Ba3 CFR
PACIFIC COAL: Fails to File Interim Financial Statements
PALISADES PARK: Voluntary Chapter 11 Case Summary
PANGEA MERGER: Moody's Affirms B2 CFR, Outlook Stable
PHOSCAN CHEMICAL: TSX Delisting Review Period Extended

PROQUEST LLC: S&P Revises Outlook to Negative & Affirms 'B' CCR
PUERTO RICO: COFINA Senior Creditors Comment on "Superbond"
QUIKSILVER INC: Court Approves Deloitte as Tax Advisor
QUIKSILVER INC: ICR LLC Okayed as Communications Consultants
RCS CAPITAL: Moody's Lowers CFR to Caa1, Outlook Negative

REALOGY HOLDINGS: Redeems $196 Million Senior Notes Due 2020
REGENCY PARK: Case Summary & 9 Largest Unsecured Creditors
RELATIVITY MEDIA: Disclosure Statement Hearing on Dec. 16
RESIDENTIAL CAPITAL: Loses Bid to Enforce Plan Injunction
RESTAURANTS ACQUISITION: Case Summary & 20 Top Unsecured Creditors

SAN JUAN OIL: Case Summary & 12 Largest Unsecured Creditors
SERVICEMASTER PROFESSIONAL: Case Summary & 20 Unsecured Creditors
SIGNAL INTERNATIONAL: Court Approves Sale of Assets to TRSA
SILICON GENESIS: Hires ipCapital Group as Expert Witness
SKYGREECE AIRLINES: Files for Bankruptcy; Creditors Meeting Dec. 8

SOUTHGOBI RESOURCES: Meets TSX Continued Listing Requirements
SUTOR TECHNOLOGY: Receives Nasdaq Listing Non-Compliance Notice
TECTUM HOLDINGS: Moody's Withdraws 'B1' CFR on Postponed IPO
TIERPOINT LLC: Incremental Debt No Impact on Moody's 'B3' CFR
U.S. STEEL: Moody's Lowers Corp. Family Rating to B1, Outlook Neg

UNI-PIXEL INC: Closes Public Offering of Common Stock & Warrants
VICTORIAN ORDER: Ontario SC Selects CBTL as Monitor
VICTORY MEDICAL: Court Approves Patrick Magill as CRO
VICTORY MEDICAL: Hires Patrick Shields as Tax Accountant
VICTORY MEDICAL: Hires Sullins & Johnston as Special Counsel

[*] Boeing Found to Breach Deposition Rules in AF Contract Row
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

1001 PRINCESS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: 1001 Princess Holdings, LLC
        2269 Chestnut Street, Suite 224
        San Francisco, CA 94123-2000

Case No.: 15-20472

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       Southern District of Texas (Corpus Christi)

Judge: Hon. David R Jones

Debtor's Counsel: Nathaniel Peter Holzer, Esq.
                  JORDAN HYDEN WOMBLE CULBRETH & HOLZER PC
                  500 N Shoreline Dr, Ste 900
                  Corpus Christi, TX 78401
                  Tel: 361-884-5678
                  Fax: 361-888-5555
                  Email: pholzer@jhwclaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Gen Shibayama, manager.

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


33 PECK: Two Manhattan Hotel Properties Up for Sale
---------------------------------------------------
The purchasers of two of the four Manhattan hotel properties that
filed Chapter 11 petitions on
Sept. 3, 2015, under the auspices of Gemini Real Estate Advisors
were decided on Dec. 1 in the U.S. Bankruptcy Court in the Southern
District of New York.  The Howard Hughes Corporation (HCH) came in
with an upset bid of $38.3 million, eclipsing the original stalking
horse purchase price for the Seaport Best Western.  The Jade
Greenwich Village, located at 57 West 13th St., will be sold to the
original stalking horse bidder Bridgeton Acquisitions, LLC, for $78
million, as Bridgeton was not outbid by the court imposed deadline
of Nov. 24.

"Our goal throughout the Chapter 11 process has been to sell all
four Manhattan properties for the highest and best terms without
any further delays," said Dante Massaro, president and CEO of
Gemini Real Estate Advisors.  "[Tues]day's proceedings locked in
sales prices at the top of the market and bring us closer to
returning maximum profits to our investors, who have remained
patient throughout this litigation process."

The auction of the third property -- the Wyndham Garden Flatiron
District at 37 West 24th St. -- is scheduled for Dec. 15 in the
U.S. Bankruptcy Court in the Southern District of New York.  There
will only be an auction if an upset bid is received.  The final
property involved in the Chapter 11 petition, the Bryant Park
Development Site located at 36 West 38th St., is currently being
marketed and is expected to sell in early 2016.

Parties interested in bidding on the Wyndham Garden Flatiron
District or Bryant Park Development Site properties should contact
Douglas Herscher at RobertDouglas in New York at (212) 993-7424 for
more information.

                       About 33 Peck Slip

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

As of the bankruptcy filing, the Debtors owned:

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

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

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

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

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

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

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


ALBERTSONS COMPANIES: Moody's Assigns B1 CFR, Outlook Stable
------------------------------------------------------------
Moody's Investors Service assigned a Corporate Family Rating of B1
and a Probability of Default Rating of B1-PD to Albertsons
Companies, LLC the newly formed parent of Safeway Inc., Albertson's
LLC and New Albertsons Inc.  The rating outlook is stable.  Moody's
also assigned a Ba3 rating to the Albertson's Holdings LLC's
proposed new incremental senior secured $1,145 million term loan
maturing 2022.  Additionally, Moody's affirmed the ratings and
ratings outlook for Albertson's Holdings LLC (B1 stable) and New
Albertson's Inc. ("NAI", B2 stable).

At closing of the proposed transaction, Albertson's Holdings LLC
will merge with and into ACL.  The proceeds of the proposed new
$1,145 million Term Loan and the proposed new $4,000 million ABL
revolving credit facility (not rated) will be used to repay the
existing NAI Term Loan, the existing ABL commitments at Albertson's
Holdings LLC and NAI and for general corporate purposes.  Both,
Albertson's Holdings LLC and NAI Holdings LLC (the current parent
of NAI) will be consolidated into ACL.

All ratings are subject to the completion of the proposed
transaction and satisfactory review of documentation.

These ratings are assigned:

Albertsons Companies, LLC

  Corporate Family Rating at B1
  Probability of Default Rating at B1-PD

Albertson's Holdings LLC

  Proposed new $1,145 million senior secured term loan maturing
   2022 at Ba3 (LGD2)

These ratings are affirmed and will be withdrawn upon closing:

Albertson's Holdings LLC

  Corporate Family Rating at B1
  Probability of Default Rating at B1-PD

New Albertson's Inc.

  Corporate Family Rating at B2
  Probability of Default Rating at B2-PD
  $1,150 million senior secured term loan maturing 2021 at Ba3
   (LGD2)

These ratings are affirmed and LGD assessment updated:

Albertson's Holdings LLC

  $1,441 million senior secured term loan maturing 2019 at Ba3
   (LGD2)
  $950 million senior secured term loan maturing 2019 at Ba3
   (LGD2)
  $3,609 million senior secured term loan maturing 2021 at Ba3
   (LGD2)
  $300 million senior secured term loan maturing 2021 at
   Ba3 (LGD2)
  $610 million second lien notes maturing 2022 at B2 (LGD4)
  $449 million Safeway Inc. legacy notes maturing 2016, 2017,2019
   at B2 (LGD4)
  $997 million Safeway Inc. legacy notes maturing 2020, 2021, 2027

   and 2031 at B2 (LGD4)

RATINGS RATIONALE

"The consolidated company's proforma credit metrics remain weak
with debt to EBITDA at about 7.5 times at the end of fiscal 2015.
However, we expect operating performance to continue to improve,
resulting in improved credit metrics with debt to EBITDA expected
to be approach 6.5 times in the next 12-18 months", Moody's Vice
President and Senior Analyst Mickey Chadha stated.  "Although the
integration of the Safeway acquisition is still in its early stages
with significant execution and integration challenges ahead, the
new combined company will be the second largest supermarket chain
in the U.S. with a large scale and significant opportunities to
create synergies and supply chain efficiencies that could further
enhance profitability and top line growth", Chadha further added.

The B1 Corporate Family Rating of Albertsons Companies, LLC
reflects the company's very good liquidity, its sizable scale and
its well established regional brands.  Safeway has a good store
base with over ninety percent of its stores converted to the
Lifestyle format with modest capital expenditures required for
their maintenance.  The store base of New Albertson's Inc. ("NAI")
consists of stores acquired from Supervalu in 2013 with prolonged
underperformance under previous ownership and 124 Safeway stores in
Baltimore and Washington DC (Safeway Eastern Division).  NAI also
acquired 71 A&P stores in fourth quarter of fiscal 2015. Management
has vast experience in the food retailing space and has
demonstrated its ability to turnaround underperforming assets and
the ratings reflect Moody's expectation that operating performance
of all banners will continue to improve as price investments lead
to increased traffic and volume.  The initiatives undertaken by
management have already proven successful in stabilizing and
improving the operating performance of the company's stores.  In
2014, identical store sales grew 9.1% for New Albertson's stores,
swinging from a decline of 4.8% in 2012, while same-store growth
for Safeway stores improved to 3% in 2014 from 1% growth in 2012.
These trends continued into the second quarter of fiscal 2015 with
identical store sales for New Albertson's stores and for Safeway
stores at 5.2%.  Operating efficiencies and strategic initiatives
to minimize costs are also expected to reduce expenses and improve
cash flow generation and enhance profitability with the company
using excess free cash flow to pay down debt.  Integration and
execution challenges related to the Safeway acquisition, coupled
with a high debt burden and risk associated with ownership by a
financial sponsor, remain major risks for the company.

The company's stable rating outlook incorporates Moody's
expectation that identical store sales will continue to be positive
and EBIT margins will continue to improve and the company's credit
metrics will improve through increased EBITDA generation and debt
prepayments.

Ratings could be upgraded if debt/EBITDA approaches 5.0 times,
EBIT/interest is sustained above 1.75 times, financial policies
remain benign and liquidity remains very good.

Ratings could be downgraded if debt/EBITDA is sustained above 6.25
times or EBIT/interest is sustained below 1.5 times.  Ratings could
also be downgraded if financial policies become aggressive or if
liquidity deteriorates or if the integration of the acquired
Safeway stores does not result in expected synergies and
improvement in overall profitability of the combined company.

The principal methodology used in these ratings was Retail Industry
published in October 2015.

Albertsons Companies, Inc. is owned by a consortium led by Cerberus
Capital Management and the parent of Safeway Inc., Albertson's LLC
and New Albertsons Inc.  The combined company operates 2,276
grocery stores in 33 States under 18 banners including Safeway,
Albertsons, Vons Jewel Osco, Shaw's, United Supermarkets, Acme,
Star, Carrs, Randalls, Pavilions, Market Street, Tom Thumb, and
Amigos Proforma revenues of the combined company will be about $58
billion.



ALBERTSONS COMPANIES: S&P Assigns Prelim. 'B+' CCR, Outlook Pos.
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned a preliminary 'B+'
corporate credit rating to the Boise, Idaho-based Albertsons
Companies LLC, which will become the new parent of Albertson's LLC,
Safeway Inc., and NAI.  The outlook is positive.

At the same time, S&P assigned preliminary 'BB' issue-level rating
and preliminary '1' recovery ratings to the incremental $1.145
billion tranche B-5 term loan.

The existing ratings on NAI and Albertson's Holdings LLC and their
debt remain on CreditWatch positive because of performance
progress, revised recovery assumptions, and changes in capital
structure.

S&P expects to finalize the preliminary ratings, and resolve the
CreditWatch placement, aligning the corporate credit ratings and
raising various existing issue-level ratings if ACL completes its
proposed debt issuance.

"The rating on ACL reflects the substantial amount of leverage from
the 2014 Safeway purchase, but also its strong market position as a
combined entity and significant potential for cost synergies.  ACL
has cited market conditions for delaying an IPO. We believe an IPO
and possibly further refinancings are still possibilities over the
next year but timing and likelihood remain unclear," said credit
analyst Robert Schulz.  "We understand the formation of ACL,
proposed debt issuance and merger of certain units into ACL is
being done to simplify the capital structure and financial
reporting in advance of a potential IPO.  In the meantime, we
believe NAI and Safeway are making continued operational
improvements."

The outlook is positive.  S&P believes sales trends at the majority
of banners should remain positive and after incurring a large
amount of transaction costs initially, cost saving opportunities
could lead to material profit growth and potentially an IPO.

Given the competitive nature of the industry, S&P expects sales
growth trends to moderate and price investments could counteract
some of the cost saving opportunities.  If ACL experienced
significant integration problems and failed to gain costs savings,
while sales and margins eroded, an IPO would be much less likely.
In that case, S&P could revise the outlook to stable to even lower
the rating, if for example, revenue growth was flat or even
negative on strategic missteps along with margins declining and
failed synergies.

If S&P expected leverage to approach the mid-4x area following an
IPO over the next year, it would consider a higher rating.  One
scenario would be for revenue growth to be in the mid-single digits
and gross margins to improve around 50 bps from expected pro forma
levels, leading to an IPO with proceeds to reduce debt.



ASSET ACQUISITION: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Asset Acquisition Partners of America, Inc.
        116 West 83rd Street
        Los Angeles, CA 90044

Case No.: 15-28441

Chapter 11 Petition Date: December 1, 2015

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

Debtor's Counsel: Jeffrey B Smith, Esq.
                  CURD, GALINDO & SMITH, LLP
                  301 E Ocean Blvd Ste 1700
                  Long Beach, CA 90802
                  Tel: 562-624-1177
                  Fax: 562-624-1178
                  Email: jsmith@cgsattys.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Willie Hankins, chief executive
officer.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb15-28441.pdf


ATLANTIC & PACIFIC: Brixmor to Acquire Nesconset Store for $525K
----------------------------------------------------------------
An affiliate of Great Atlantic & Pacific Tea Company Inc. received
court approval to sell its assets to Brixmor SPE 2 LLC for
$525,000.

The order, issued by U.S. Bankruptcy Judge Robert Drain, allowed
A&P Real Property LLC to sell the assets, including a lease for its
store located at 4054 Nesconset Highway, in New York.

Brixmor was selected as the winning bidder at an auction for the
assets, beating out rival bidder Best Yet Market Inc., court
filings show.

A copy of the court order is available without charge at
http://is.gd/iLhuNw

                       About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea
Company, Inc., and its affiliates are one of the nation's oldest
leading supermarket and food retailers, operating approximately 300
supermarkets, beer, wine, and liquor stores, combination food and
drug stores, and limited assortment food stores across six
Northeastern states.  The primary retail operations consist of
supermarkets operated under a variety of well known trade names, or
"banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food
Basics, The Food Emporium, Best Cellars, and A&P Liquors.   The
Company employs approximately 28,500 employees, over 90% of whom
are members of one of twelve local unions whose members are
employed by the Debtors under the authority of 35 separate
collective bargaining agreements.

Then with 429 stores, A&P and its affiliates filed Chapter 11
petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and
in 2012 emerged from Chapter 11 bankruptcy as a privately held
company with 320 supermarkets.

On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors
each filed a Chapter 11 petition (Bankr. S.D.N.Y.) after reaching
deals for the going concern sales of 120 stores.  The Debtors are
seeking joint administration under Case No. 15-23007.

As of Feb. 28, 2015, the Debtors reported total assets of $1.6
billion and liabilities of $2.3 billion.

The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore
Group L.L.C., as investment banker, FTI Consulting, Inc., as
financial advisor, Hilco Real Estate, LLC, as real estate advisor,
and Prime Clerk LLC, as claims and noticing agent.

Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York issued an order directing joint administration
of the Chapter 11 cases of The Great Atlantic & Pacific Tea
Company, Inc., and its debtor affiliates under lead case no.
15-23007.


ATLANTIC & PACIFIC: Judge Okays Sale of Belleville Store to BX&M
----------------------------------------------------------------
A federal judge approved the sale of A&P Real Property LLC's assets
to BX&M Food Corp., which made a $486,000 offer.

U.S. Bankruptcy Judge Robert Drain allowed A&P to sell the assets
used in operating its store located at 357-474 Main Street,
Belleville, in New Jersey.

The assets include a lease on the store run by A&P, an affiliate of
Great Atlantic & Pacific Tea Company Inc., under the Food Basics
name.

The companies signed the deal following a two-day auction held in
October where BX&M's offer was selected as the winning bid.  BX&M
beat out rival bidder Lemes Supermarket Limited Liability Co.

BX&M President Miguel Luna had said in a court filing that the
company plans to operate a grocery store under the Fine Fare
banner.

A copy of the court order is available without charge at
http://is.gd/DOBJFV

                       About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea
Company, Inc., and its affiliates are one of the nation's oldest
leading supermarket and food retailers, operating approximately 300
supermarkets, beer, wine, and liquor stores, combination food and
drug stores, and limited assortment food stores across six
Northeastern states.  The primary retail operations consist of
supermarkets operated under a variety of well known trade names, or
"banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food
Basics, The Food Emporium, Best Cellars, and A&P Liquors.   The
Company employs approximately 28,500 employees, over 90% of whom
are members of one of twelve local unions whose members are
employed by the Debtors under the authority of 35 separate
collective bargaining agreements.

Then with 429 stores, A&P and its affiliates filed Chapter 11
petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and
in 2012 emerged from Chapter 11 bankruptcy as a privately held
company with 320 supermarkets.

On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors
each filed a Chapter 11 petition (Bankr. S.D.N.Y.) after reaching
deals for the going concern sales of 120 stores.  The Debtors are
seeking joint administration under Case No. 15-23007.

As of Feb. 28, 2015, the Debtors reported total assets of $1.6
billion and liabilities of $2.3 billion.

The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore
Group L.L.C., as investment banker, FTI Consulting, Inc., as
financial advisor, Hilco Real Estate, LLC, as real estate advisor,
and Prime Clerk LLC, as claims and noticing agent.

Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York issued an order directing joint administration
of the Chapter 11 cases of The Great Atlantic & Pacific Tea
Company, Inc., and its debtor affiliates under lead case no.
15-23007.


ATLANTIC & PACIFIC: Nicholas Markets to Acquire Pascack Store
-------------------------------------------------------------
Nicholas Markets Inc. will acquire the assets used in operating the
store owned by Great Atlantic & Pacific Tea Company Inc. in New
Jersey, according to court filings.

Great Atlantic will receive $400,000 for the assets, which include
a lease on the store located at 315 Pascack Road, in Washington
Township.

The company runs the store under the A&P name, according to court
filings.

The sale was approved by U.S. Bankruptcy Judge Robert Drain who
oversees Great Atlantic's Chapter 11 case.  The order is available
for free at http://is.gd/8qHg1A

                       About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea
Company, Inc., and its affiliates are one of the nation's oldest
leading supermarket and food retailers, operating approximately 300
supermarkets, beer, wine, and liquor stores, combination food and
drug stores, and limited assortment food stores across six
Northeastern states.  The primary retail operations consist of
supermarkets operated under a variety of well known trade names, or
"banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food
Basics, The Food Emporium, Best Cellars, and A&P Liquors.   The
Company employs approximately 28,500 employees, over 90% of whom
are members of one of twelve local unions whose members are
employed by the Debtors under the authority of 35 separate
collective bargaining agreements.

Then with 429 stores, A&P and its affiliates filed Chapter 11
petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and
in 2012 emerged from Chapter 11 bankruptcy as a privately held
company with 320 supermarkets.

On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors
each filed a Chapter 11 petition (Bankr. S.D.N.Y.) after reaching
deals for the going concern sales of 120 stores.  The Debtors are
seeking joint administration under Case No. 15-23007.

As of Feb. 28, 2015, the Debtors reported total assets of $1.6
billion and liabilities of $2.3 billion.

The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore
Group L.L.C., as investment banker, FTI Consulting, Inc., as
financial advisor, Hilco Real Estate, LLC, as real estate advisor,
and Prime Clerk LLC, as claims and noticing agent.

Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York issued an order directing joint administration
of the Chapter 11 cases of The Great Atlantic & Pacific Tea
Company, Inc., and its debtor affiliates under lead case no.
15-23007.


ATLANTIC & PACIFIC: Shanghai, 2 Others Buying Assets for $5.3-Mil.
------------------------------------------------------------------
A federal judge approved A&P Real Property LLC's three separate
sale agreements with Shanghai Enterprises LLC and two other
buyers.

The order, issued by U.S. Bankruptcy Judge Robert Drain, allowed
the company to sell assets used in operating its two New York
stores to Shanghai Enterprises for a total of $4.19 million.

Shanghai Enterprises offered $3.26 million for the A&P store
located at 777 Pulaski Road, in Greenlawn, New York.  Meanwhile,
the company made a $928,000 offer for the other store located at 87
Main Street, in Hastings, New York.

In a separate ruling, Judge Drain authorized the sale of A&P's
assets to Feil Whitestone LLC and East 11th Holding LLC for $1.14
million.

The companies made a $1.07 million cash offer to acquire the lease
on an A&P store located at 153-01 10th Avenue, in Whitestone, New
York.  The other assets will be sold to the companies for $75,000.

All three buyers emerged as the winning bidders at an auction held
in October, according to court filings.

                       About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea
Company, Inc., and its affiliates are one of the nation's oldest
leading supermarket and food retailers, operating approximately 300
supermarkets, beer, wine, and liquor stores, combination food and
drug stores, and limited assortment food stores across six
Northeastern states.  The primary retail operations consist of
supermarkets operated under a variety of well known trade names, or
"banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food
Basics, The Food Emporium, Best Cellars, and A&P Liquors.   The
Company employs approximately 28,500 employees, over 90% of whom
are members of one of twelve local unions whose members are
employed by the Debtors under the authority of 35 separate
collective bargaining agreements.

Then with 429 stores, A&P and its affiliates filed Chapter 11
petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010, and
in 2012 emerged from Chapter 11 bankruptcy as a privately held
company with 320 supermarkets.

On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors
each filed a Chapter 11 petition (Bankr. S.D.N.Y.) after reaching
deals for the going concern sales of 120 stores.  The Debtors are
seeking joint administration under Case No. 15-23007.

As of Feb. 28, 2015, the Debtors reported total assets of $1.6
billion and liabilities of $2.3 billion.

The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore
Group L.L.C., as investment banker, FTI Consulting, Inc., as
financial advisor, Hilco Real Estate, LLC, as real estate advisor,
and Prime Clerk LLC, as claims and noticing agent.

Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern
District of New York issued an order directing joint administration
of the Chapter 11 cases of The Great Atlantic & Pacific Tea
Company, Inc., and its debtor affiliates under lead case no.
15-23007.


B&L EQUIPMENT: Files Schedules of Assets and Liabilities
--------------------------------------------------------
B&L Equipment Rentals, Inc. filed with the U.S. Bankruptcy Court
for the Eastern District of California its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property           $17,144,907
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $3,405,594
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                        $1,620,740
                                 -----------      -----------
        TOTAL                    $17,144,907       $5,026,334

A full-text copy of the Schedules is available for free at:

           http://bankrupt.com/misc/caeb15-14685.pdf

                      About B&L Equipment

B&L Equipment Rentals, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. E.D. Calif. Case No. 15-14685) on Nov. 30, 2015.  The
petition was signed by Lawrence F. Jenkins as president.  The
Debtor listed total assets of $17.14 million and total debts of
$5.02 million.  Law Office of Leonard K. Welsh represents the
Debtor as counsel.  The case has been assigned to Judge Rene
Lastreto II.


BG MEDICINE: Amends License & Distribution Agreement with Abbott
----------------------------------------------------------------
In support of the commercialization of automated testing for
galectin-3, BG Medicine and Abbott have amended their License and
Distribution Agreement in regard to the product fees paid to BG
Medicine by Abbott for galectin-3 tests sold by Abbott to reference
laboratories, while retaining the previously negotiated product fee
for the other customer segments.

"We believe that this modification to our agreement will open up a
new customer segment for automated testing as well as expedite the
transition for existing customers from manual to automated testing
for galectin-3," said Paul R. Sohmer, M.D., president and CEO of BG
Medicine, Inc.  "We expect that, as a result, the majority of
revenues currently generated from sales of manual test kits will,
over time, likely be replaced by product fees generated from the
sale of the automated tests by our automated partners when their
automated tests become available.  This modification to our
agreement further bolsters our efforts to accelerate adoption of
galectin-3 testing."

                         About BG Medicine

Waltham, Mass.-based BG Medicine is a diagnostics company focused
on the development and commercialization of novel cardiovascular
diagnostic tests to address significant unmet medical needs,
improve patient outcomes and contain healthcare costs.  The
Company is currently commercializing two diagnostic tests, the
first of which is the BGM Galectin-3 test, a novel assay for
measuring galectin-3 levels in blood plasma or serum for use as an
aid in assessing the prognosis of patients diagnosed with heart
failure.  The Company's second diagnostic test is the CardioSCORE
test, which is designed to identify individuals at high risk for
near-term, significant cardiovascular events, such as heart attack
and stroke.

BG Medicine reported a net loss of $8.06 million in 2014, a
net loss of $15.8 million in 2013 and a net loss of $23.8 million
in 2012.

As of Sept. 30, 2015, the Company had $3.35 million in total
assets, $2.03 million in total liabilities, $2.59 million in
convertible preferred stock, and a total stockholders' deficit of
$1.27 million.

Deloitte & Touche LLP, in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company's recurring
losses from operations, recurring cash used in operating activities
and accumulated deficit raise substantial doubt about its ability
to continue as a going concern.


BON-TON STORES: S&P Lowers CCR to 'CCC+', Outlook Negative
----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on York, Pa.-based Bon-Ton Stores Inc. to 'CCC+' from 'B-'.
The outlook is negative.

At the same time, S&P lowered the issue-level rating on the
company's second-lien senior secured notes to 'CCC' from 'B-' and
revised the recovery rating to '5' from '4'.  The '5' recovery
rating indicates S&P's expectation for modest recovery (10%-30%;
lower half of the range) of principal in the event of a payment
default or bankruptcy.

"The downgrade reflects both Bon-Ton's weakening performance and
our forecast for an unsustainable capital structure and "less than
adequate" liquidity.  Absent positive developments in operating
performance, we think the company could restructure its capital
structure, although we do not envision a specific default scenario
over the next 12 months," said credit analyst Mathew Christy.
"While management cannot currently commit to funding the April 2016
maturity of the $104 million mortgage facility, we believe Bon-Ton
will will likely fund the impending maturity via the availability
under its asset-based lending (ABL) facility, however this in our
forecasts would lead to reduced liquidity.  We also believe the
likelihood of the capital structure improving in the near term is
low given our expectations for operating performance amid a slow
down in customer traffic and an increase in discounting across the
department store industry."

The negative outlook reflects S&P's view of the company's eroding
liquidity position as a result of declining earnings as well as
reflecting S&P's view that Bon-Ton will find it difficult to
recover positive cash flow given the challenging operating
environment for department stores and other retailers.

A downgrade would indicate specific default scenarios envisioned
for Bon-Ton over the next 12 months from further weak performance
or if the company cannot refinance its near-term debt facility
maturities while a further tightening in liquidity leads to an
inability of the company fund fixed charges.  In this situation,
S&P would view heightened potential for a near-term payment default
if its liquidity conditions deteriorate further from increased
working capital or other needs.

An upgrade is unlikely over the next year absent a significant
reversal in recent operating trends for the department store
industry and the company, all leading to an improvement in the
liquidity position and credit metrics.



BROADWAY FINANCIAL: OCC Rescinds Bank Consent Order
---------------------------------------------------
Broadway Financial Corporation, parent company of Broadway Federal
Bank, f.s.b., reported that the Bank's primary regulator, the
Office of the Comptroller of the Currency, has informed Broadway
that it has terminated the Consent Order applicable to the Bank.
This decision follows a full regulatory review of the Bank that the
staff of the OCC completed this past summer.  The Consent Order,
which was entered into by the Bank with the OCC in October 2013,
superseded an Order to Cease and Desist that the Bank entered into
with the OCC's predecessor regulatory organization in September
2010.  The regulatory order from the Federal Reserve Board for the
Company remains in effect.

Chief Executive Officer, Wayne Bradshaw commented, "This decision
by the OCC officially recognizes that Broadway has re-established
its position as a safe and sound financial institution.  In
addition, it acknowledges the success that our team has achieved in
generating profits, eliminating problem assets, re-building a
quality loan portfolio, and accomplishing our stated goals.

"As mentioned in our press release announcing results for the third
quarter, we began 2015 with two primary objectives: (i)
establishing Broadway as a leading lender for multi-family
residential properties in Southern California, particularly
properties within our core market of low-to-moderate income
communities; and (ii) obtaining rescission of the regulatory orders
and related restrictions that have impacted our business for over
five years.  With this decision by the OCC we believe that we have
accomplished these goals for the Bank.  As a result, we can now
focus on growing our loan portfolio, which will improve our ability
to increase net interest income, enhance our efficiency, and expand
our profits.

"In a related matter, I wish to announce that we have completed the
purchase of $100 million of prime single family residential loans
that the Bank had committed to purchase in September.  This
purchase will help us grow our core earnings and diversify our
portfolio mix.  Year-to-date we have originated almost $110 million
of multi-family residential ("MFR") loans and since September 30,
all MFR loans have been originated for our held-for-investment
portfolio.

"Finally, I wish to acknowledge the dedication, commitment to
excellence, and perseverance of our employees whose efforts are
responsible for this decision by the OCC, and to the patience of
our stockholders who have supported us throughout the long process
of re-establishing Broadway as a safe and sound financial
institution."

                     About Broadway Financial

Los Angeles, Calif.-based Broadway Financial Corporation was
incorporated under Delaware law in 1995 for the purpose of
acquiring and holding all of the outstanding capital stock of
Broadway Federal Savings and Loan Association as part of the
Bank's conversion from a federally chartered mutual savings
association to a federally chartered stock savings bank.  In
connection with the conversion, the Bank's name was changed to
Broadway Federal Bank, f.s.b.  The conversion was completed, and
the Bank became a wholly owned subsidiary of the Company, in
January 1996.

As of Sept. 30, 2015, the Company had $403.90 million in total
assets, $363.25 million in total liabilities and $40.64 million in
total stockholders' equity.

                         Regulatory Matters

As a result of significant deficiencies in the Company's and the
Bank's operations noted in a regulatory examination in early 2010,
the Company and the Bank were declared to be in "troubled
condition" and agreed to the issuance of the cease and desist
orders by the regulatory predecessor of the Office of the
Comptroller of the Currency for the Bank and the Board of Governors
of the Federal Reserve System for the Company effective Sept. 9,
2010, requiring, among other things, that the Company and the Bank
take remedial actions to improve the Bank's loan underwriting and
internal asset review procedures, to reduce the amount of its
non-performing assets and to improve other aspects of the Bank's
business, as well as the Company's management of its business and
the oversight of the Company's business by the Board of Directors.
Effective Oct. 30, 2013, the Order for the Bank was superseded by a
Consent Order entered into by the Bank with the OCC.  As part of
the Consent Order, the Bank is required to attain, and thereafter
maintain, a Tier 1 (Core) Capital to Adjusted Total Assets ratio of
at least 9% and a Total Risk-Based Capital to Risk-Weighted Assets
ratio of at least 13%, both of which ratios are greater than the
respective 4% and 8% levels for such ratios that are generally
required under OCC regulations.  The Bank's regulatory capital
exceeded both of these higher capital ratios at Dec. 31, 2014, and
2013.


BROOKE CORP: SpiritBank Held Liable for $2M to Trustee
------------------------------------------------------
A litigation arises out of an Option Agreement that was entered
into by SpiritBank and Brooke Corp on March 6, 2008.  It provided,
among other things, that Brooke Corp would purchase a $2 million CD
from SpiritBank to be held by and pledged to SpiritBank to secure
Brooke Corp's conditional obligation to purchase SpiritBank's
participation interest in a loan to Aleritas Capital Corporation, a
subsidiary of Brooke Corp.

On September 4, 2008, SpiritBank liquidated the CD.  On October 28,
2008, Brooke Corp filed a petition under Chapter 11 of the
Bankruptcy Code.  The case was later converted to Chapter 7, and
Christopher J. Redmond was appointed Trustee.

On October 27, 2010, the Trustee filed a five-count First Amended
Complaint, only four counts of which seek relief against
SpiritBank.  Count I seeks to avoid as fraudulent transfers the
transfers to or for the benefit of SpiritBank of money and various
interests, including the Option Agreement, the purchase of the $2
million CD, and the payment of some attorney and deferral fees that
total $33,000.  Alternatively, Count II seeks to avoid SpiritBank's
liquidation of the CD and application of the proceeds against
Brooke Corp's alleged defaults under the Option Agreement.  Count
IV seeks recovery from SpiritBank of all avoided transfers. Count V
is a claim objection cause of action seeking disallowance of
SpiritBank's claim.

In a post-trial Memorandum Opinion and Order dated November 20,
2015, which is available at http://is.gd/Z1ZX5v,Judge Dale L.
Somers of the U.S. Bankruptcy Court for the District of Kansas
held:

   (1) the Trustee may avoid the Option Agreement, including the
pledge of the $2 million Brooke CD to SpiritBank and SpiritBank's
subsequent cashing of the Brooke CD;

   (2) the Trustee may not avoid the Second Amendment to Option
Agreement, including the transfer of the $33,000 in Deferral Fees
to SpiritBank;

   (3) the transfer of the $2 million Brooke CD to SpiritBank is
not avoidable as a preferential transfer;

   (4) SpiritBank is liable to the Trustee for $2,012,491;

   (5) prejudgment interest is not awarded to the Trustee; and

   (6) the effect of this judgment on SpiritBank's proof of claim
is not decided, without prejudice to submitting the issue to the
Court in a subsequent hearing if the parties are unable to reach an
agreement on the issue.

The adversary proceeding is CHRISTOPHER J. REDMOND, Chapter 7
Trustee of Brooke Corporation, Brooke Capital Corporation, and
Brooke Investments, Inc., Plaintiff, v. SPIRITBANK, DEFENDANT, ADV.
NO. 09-6070 (Bankr. D. Ks.).

The case is In Re: BROOKE CORPORATION, et al., Chapter 7, Debtors,
CASE NO. 08-22786 (JOINTLY ADMINISTERED)(Bankr. D. Ks.).

Christopher Redmond, Brooke Trustee, Plaintiff, represented by John
J. Cruciani, Esq. -- john.cruciani@huschblackwell.com -- Husch
Blackwell LLP, Michael D. Fielding, Esq. --
michael.fielding@huschblackwell.com -- Husch Blackwell LLP, Douglas
J. Schmidt, Esq. -- douglas.schmidt@huschblackwell.com -- Husch
Blackwell LLP.

Spirit Bank, Defendant, represented by Steven E. Mauer, Esq. --
semauer@zergermauer.com -- Zerger and Mauer LLP, Kenneth Wagner,
Esq. -- kwagner@lwsl-law.com -- Latham Wagner Steele Lehman PC.

                           About Brooke Corp.

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

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

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

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


BUILDING MATERIALS: S&P Raises CCR to 'B+' After Merger Close
-------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Building Materials Holding Corp. to 'B+' from 'B'
subsequent to the company's announcement that it had closed its
merger transaction with Stock Building Supply Holdings Inc.  At the
same time, S&P removed the rating from CreditWatch, where it had
been placed with positive implications on June 9, 2015.  The
outlook on the rating is stable.

In addition, S&P raised its issue-level ratings on the company's
senior secured notes to 'B+' from 'B-', indicating improved
recovery prospects for the notes under the new combined company ,
and removed the rating from CreditWatch, where it had been placed
with positive implications on June 9, 2015.  S&P also revised the
recovery rating on the notes to '3' from '5'.  The '3' recovery
rating indicates S&P's expectation of meaningful (50% to 70%;
higher end of the range) recovery for debtholders in the event of a
default.

"The stable outlook reflects our expectations for the pro forma
merged company to complete its integration and continue to achieve
growth in most of its operating segments, supported by our
assumptions of a continuation of the U.S. housing recovery and
moderate growth in nonresidential construction," said Standard &
Poor's credit analyst Christopher Andrews.  "The outlook also
reflects our expectation of adjusted EBITDA within the $170 million
to $180 million range for fiscal 2016 and continued improvement
thereafter."

Despite S&P's expectation for strengthening performance from the
pro forma merged company, it may consider a negative rating action
if the company encounters complications with the integration of the
two companies or does not achieve the expected level of synergies,
such that leverage remains above 4x over the course of fiscal 2016
and if S&P believes it will remain at this level or above.

S&P may consider a positive rating action if the company achieves
profitability and sales growth in excess of S&P's current forecast
such that credit measures are sustained at a level consistent with
an "intermediate" financial risk profile.  Specifically, S&P would
look for debt to EBITDA to be sustained below 3.0x and FFO to debt
above 30%.



CAESARS ENTERTAINMENT: Objects to Claimholders' Litigation Push
---------------------------------------------------------------
Cara Salvatore at Bankruptcy Law360 reported that bankrupt Caesars
Entertainment Operating Co. Inc. objected on Nov. 20, 2015, to
creditors' attempts to step into the company's shoes and pursue
allegedly sidelined loose ends like commercial tort claims and
interests in gaming licenses and riverboat mortgages, saying the
interference could spoil a global settlement.

The creditors filed a document in August asking for standing to
pursue the allegedly overlooked claims, and Caesars is now
objecting, saying it is in fact pursuing them -- and that the
unsecured creditors' efforts threaten a potential deal.

                   About Caesars Entertainment

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

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

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

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

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

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

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

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

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


CCH JOHN EAGAN: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: CCH John Eagan II Homes, L.P.
        8895 North Military Trail, Suite 10B
        Palm Beach Gardens, FL 33410-6276

Case No.: 15-31082

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Eric A Rosen, Esq.
                  FOWLER WHITE BURNETT, P.A.
                  515 North Flagler Drive, Suite 2100
                  West Palm Beach, FL 33401
                  Tel: (561) 802-9044
                  Fax: (561) 209-7767
                  Email: erosen@fowler-white.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Yashpal Kakkar, managing member, CCH
John Eagan II
Partners, LLC, GP.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb15-31082.pdf


CENTRAL ENERGY: Sells Assets of Regional; To be Dissolved
---------------------------------------------------------
Regional Enterprises, the sole operating subsidiary of Central
Energy Partners LP, sold substantially all of its operating assets
and certain liabilities to Associated Asphalt Hopewell, LLC
effective Nov. 20, 2015, for cash consideration of $5,000,000,
subject to certain adjustments as set forth in the Purchase
Agreement, of which $575,000 was deposited in an indemnity escrow
account maintained by the parties with U.S. Bank National
Association.

A significant portion of the remaining $985,041 of proceeds from
the sale of the Regional assets were used to pay obligations of
Regional.  The remaining proceeds of $356,000, together with all
other cash held in bank accounts of Regional or due to Regional,
and the rights to receive any portion of the Escrow Holdback will
be transferred to Company as partial satisfaction of the
Intercompany Demand Promissory Note between Regional and the
Registrant dated March 1, 2012.  At Nov. 20, 2015, the outstanding
principal and accrued and unpaid interest due on the Regional
Intercompany Note was $3,622,041.  The remaining unpaid principal
and accrued and unpaid interest due on the Regional Intercompany
Note will be forgiven by the Company.

Prior to the sale of the Regional assets to Associated Asphalt,
Associated Asphalt leased storage facilities from Regional and was
the second largest customer of Regional by revenue for the
six-month period ended June 30, 2015.

The Board of Directors of Regional made the decision, together with
the approval of Central Energy, to sell substantially all of
Regional's assets to Associated Asphalt in order (1) to raise the
needed proceeds to repair Tank 110, which failed and leaked a
significant amount of asphalt owned by Associated Asphalt on
May 15, 2015, and (2) to make the principal and accrued and unpaid
interest payments due on the loan by Hopewell Investment Partners
LLC to Regional in March 2013, which loan was due and payable in
full on March 20, 2016.  The total amount of these obligations was
approximately $3,100,000 at Nov. 20, 2015.  The Regional Board and
Company, despite repeated efforts, had not been able to identify a
viable alternative to raise the necessary funds to meet these
obligations and other payments owing to trade creditors in excess
of $300,000.

As a result of the sale of the Regional assets to Associated
Asphalt, the Company has no remaining operations or source of
income or profit.  Without acquiring additional assets, the Company
will not have income from operations that constitutes "qualifying
income" under Section 7704(d) of the Internal Revenue Code of 1986,
as amended (the "Code").  As a result, the Company will no longer
be treated as a partnership for tax purposes under Section 7704 of
the Code unless it purchases additional assets which generate
"qualifying income."  At the present time, the Company has not
identified any such assets for acquisition and does not have access
to the capital needed to purchase any such assets if identified.

In connection with the anticipated sale of the Regional assets, in
September 2015 management of Central Energy GP LLC, the general
partner of the Company, acting in such capacity, determined that
the goodwill recorded on the balance sheet of the Company as a
result of its acquisition of the Regional assets was impaired and
had no value.  The entire amount of the goodwill was impaired due
to the sale of the Regional assets and no future revenue stream
related to such assets.  As a result, management determined to take
a charge of $3,941,000 for the quarter ended Sept. 30, 2015, as a
result of this impairment.

As a result of the sale of Regional assets, the services of Ian T.
Bothwell in his capacity as the president of Regional and as a
senior vice president of CEGP were no longer needed on a full-time
basis.  In connection with the sale of the Regional assets, CEGP
and Mr. Bothwell entered into a Separation and General Release
Agreement in full satisfaction of all obligations of CEGP to Mr.
Bothwell pursuant to his Employment Agreement dated March 20, 2013,
as amended effective Dec. 19, 2013.  Mr. Bothwell's termination
from full-time employment with CEGP was effective
Nov. 20, 2015.

The Third Amended and Restated Agreement of Limited Partnership of
the Company provides that those Limited Partners holding more than
a majority of the issued and outstanding Common Units of the
Company must vote to approve the sale of all or substantially all
of the assets of Company whether in one or more related
transactions.  On Oct. 27, 2015, the Board of Directors of CEGP
recommended to the Limited Partners of the Company that they
approve the sale of the Regional assets.  On Nov. 3, 2015, those
Limited Partners holding 53.15% of the issued and outstanding
Common Units of Registrant approved the sale of the Regional assets
by executing a Written Consent in Lieu of a Special Meeting of
Limited Partners.

                  Financial Condition of Registrant

Since inception, July 10, 2003, Central Energy's quarterly and
annual financial statements have been qualified by its independent
registered public accountants due to a question about its ability
to generate sufficient cash to meet its financial obligations. From
time to time Company has raised additional capital through the
private placement of its Common Units and capital calls to members
of CEGP in offerings exempt from registration under to Section 4(2)
of the Securities Act of 1933, as amended.  However, these amounts
have never been sufficiently large to ensure the financial
stability of the Company.  As a result, the Company has not been
able to maintain sufficient capital to fund (1) its ongoing
operations, (2) the operating losses incurred by Regional or its
need for capital to maintenance and improve its facilities, and (3)
its efforts to acquire additional assets.  At Sept. 30, 2015, the
Company had total current assets of $312,000 and total current
liabilities of $3,908,000.  In addition, the Company had long-term
debt obligations due to CEGP of $5,361,000.

As a result of its financial condition and the inability to
identify additional sources of capital for Registrant and its
subsidiaries, the Company made the decision to offer the assets of
Regional for sale in order to raise the needed cash to meet the
financial obligations of Registrant and Regional.  This decision
was triggered, in part, by a second leak occurring in Tank 110 on
May 15, 2015, and the anticipated substantial cost to again repair
the tank and place it back in service.  In addition, the pending
maturity of the Hopewell Loan in March 2016 was a factor in making
this decision.

In light of this decision and the Company's financial condition,
the CEGP management, in consultation with members of the CEGP Board
and its Audit Committee, elected not to spend the money necessary
to have its unaudited consolidated financial statements for the
quarter ended Sept. 30, 2015, reviewed by its independent
registered public accountants and prepare and file a Quarterly
Report on Form 10-Q for the quarter ended Sept. 30, 2015.  As a
result, the Company is no longer in compliance with its reporting
obligations under Section 13(a) of the Securities Exchange Act of
1934, as amended.

                          Dissolution

Given the financial condition of the Company and the sale of the
Regional assets, the CEGP Board voted on Nov. 30, 2015, to dissolve
the Company, subject to approval of a Unit Majority as required by
the provisions of its Partnership Agreement.  On the same date,
those Limited Partners holding 53.15% of the issued and outstanding
Common Units of the Company approved the dissolution of the Company
by executing a Written Consent in Lieu of a Special Meeting of
Limited Partners.  CEGP has been designated as the liquidator of
the Company pursuant to Section 12.3 of the Partnership Agreement
and will liquidate Registrant in accordance with Section 12.4 of
the Partnership Agreement and the applicable provisions of the
Delaware Revised Uniform Limited Partnership Act.

It is the intent of CEGP to dissolve the Company by Dec. 31, 2015,
and wind up its affairs during 2016, including the preparation and
deliver of Forms K-1 to its partners.  CEGP anticipates that
substantially all of the losses attributed to Common Units upon
dissolution will be categorized as capital losses, and that
substantially all of such capital losses will be captured in 2015.
The Forms K-1 delivered to partners of the Partnership will reflect
the losses for 2015 incurred to zero out each partner's inside
basis with respect to its capital account.

Furthermore, it is the intention of the Company to file a Form 15
with the Securities and Exchange Commission to terminate the
registration of its Common Units and its obligation to file reports
under Section 13(a) of the Exchange Act as soon as possible
pursuant to Rule 12g-4(a)(2).  As of Nov. 20, 2015, Registrant had
345 holders of record of its 19,591,482 issued and outstanding
Common Units. In addition, Registrant will notify the OTC Pink of
its intention to discontinue the listing of its Common Units for
trading on the OTC Pink.

                   About Central Energy Partners

Dallas, Tex.-based Central Energy Partners LP is a publicly-traded
Delaware limited partnership.  It currently provides liquid bulk
storage, trans-loading and transportation services for hazardous
chemicals and petroleum products through its wholly-owned
subsidiary, Regional Enterprises, Inc.

Central Energy reported a net loss of $284,000 on $5.07 million of
revenues for the year ended Dec. 31, 2014, compared to a net loss
of $521,000 on $4.75 million of revenues for the year ended
Dec. 31, 2013.

As of June 30, 2015, the Company had $7.4 million in total assets,
$9.2 million in total liabilities and a $1.8 million total
partners' deficit.

Montgomery Coscia Greilich, LLP, in Plano, Texas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that Central has incurred
recurring losses and has a deficit in working capital that raise
substantial doubt about its ability to continue as a going concern.


CIT GROUP: Fitch Affirms 'BB+/B' Issuer Default Ratings
-------------------------------------------------------
Fitch Ratings has affirmed the 'BB+/B' long- and short-term Issuer
Default Ratings (IDRs) for CIT Group Inc. and CIT Bank, N.A. (CIT
Bank), collectively CIT. The Rating Outlook is Stable.

The IDRs and Viability Ratings (VRs) take into account CIT's
transition towards a U.S. commercial bank business model following
the August 2015 merger with IMB Holdco LLC and other entities
(OneWest transaction). The OneWest transaction resulted in deposit
funding increasing to 62.6% of CIT's total debt as of Sept. 30,
2015 from 46.2% as of Dec. 31, 2014 and reduced CIT's interest
costs by 70 basis points sequentially in 3Q2015.

KEY RATING DRIVERS - IDRs, VRs, Senior Unsecured Debt and Revolving
Credit Facility

Credit strengths include the company's position as a leading middle
market lender with strong franchises in key business segments
including large equipment leasing and factoring. The IDRs and VRs
are further supported by CIT Group Inc. and CIT Bank's tier 1
capital to risk weighted assets ratios of 12.5% and 13.1%,
respectively, as of Sept. 30, 2015, which are high relative to
peers, the company's strong liquidity position, and demonstrated
access to capital since the company's recapitalization in 2009.

The ratings also incorporate the company's appropriate risk
management framework, focus on asset-backed transactions, and sound
asset quality, although the latter is at least partially a function
of a currently benign credit environment.

These strengths are counterbalanced by elevated execution risk as
CIT is simultaneously managing the transition to a new chief
financial officer (effective Nov. 1, 2015) and new chief executive
officer (effective April 1, 2016), the continued integration of
OneWest, and pursuit of strategic alternatives for its commercial
aerospace business. The company has also publicly indicated that
the new management team intends to present their strategic plan in
1Q16, which could potentially introduce further change.

Other rating constraints include CIT's exposure principally to
middle market companies, historically a higher risk customer
segment, heightened asset risk associated with cyclical leasing
businesses, and a moderate earnings profile. Pre-tax return on
average earning assets (ROAEA) averaged 1.3% YTD ended Sept. 30,
2015, after trending averaging 1.7% in 2014, 2.4% in 2013 and
(1.6%) in 2012. CIT's oil and gas exposure, which comprised 3% of
total loans as of Sept. 30, 2015, contributed to a moderate
increase in net charge offs to 0.86% in 3Q2015 after trending in
the 0.43%-0.48% range in 1H2015. Non-accrual loans were 0.66% of
total loans as of Sept. 30, 2015.

Fitch believes CIT will continue to face elevated regulatory
scrutiny as it exceeded the $50 billion systemically important
financial institution (SIFI) threshold as of Sept. 30, 2015 and is
required to comply with certain regulations including capital
planning and company-run and supervisory stress testing
requirements and other requirements.

With respect to CIT's announcement that it is pursuing strategic
alternatives for its commercial aircraft leasing business, Fitch
views this as understandable given the punitive capital charges on
the owned aircraft and order book along with statutory limitations
on high residual assets that limit funding such assets through the
bank. The mode of the divesture of the aircraft leasing business,
such as a sale or spin-off, is unclear at this time, as the company
is considering tax implications, treatment of CIT debt, and
prospective levels of debt repayment and/or return of capital to
shareholders. Fitch's Stable Rating Outlook indicates that Fitch
does not, at this time, believe the divestiture will impact CIT's
ratings.

CIT's IDR of 'BB+' is equalized with its VR of 'bb+', reflecting
Fitch's view that external support cannot be relied upon.

The senior unsecured debt rating is equalized with CIT's IDR of
'BB+', reflecting that existing notes are senior unsecured
obligations of the company that rank equally in payment priority
with all existing and future unsubordinated unsecured indebtedness
of CIT.

The revolving credit facility is unsecured and is guaranteed by
eight of CIT's domestic operating subsidiaries. In general, the
revolving credit facility ranks equal in right of payment with all
existing unsecured indebtedness of CIT, and as such, the rating of
the revolving credit facility is equalized with CIT's IDR. The
revolving credit facility also includes customary covenants that
are not shared by CIT's senior unsecured notes, including but not
limited to, a guarantor asset coverage ratio, a consolidated net
worth covenant and limits on CIT's operating flexibility in an
event of default. Fitch believes these covenants do not provide
sufficient additional protection to the facility to provide uplift
to the revolving credit facility's ratings relative to CIT's IDR
and senior unsecured debt rating.

KEY RATING DRIVERS - Support Ratings and Support Rating Floors

The Support Ratings (SRs) of '5' reflect Fitch's view that external
support cannot be relied upon. The Support Rating Floors (SRFs) of
'No Floor' reflect Fitch's view that there is no reasonable
assumption that sovereign support will be forthcoming to CIT.

KEY RATING DRIVERS - Long- and Short-term Deposit Ratings

CIT Bank's uninsured deposit ratings of 'BBB-/F3' are rated one
notch higher than the bank's IDR because U.S. uninsured deposits
benefit from depositor preference in the U.S. Fitch believes
depositor preference in the U.S. gives deposit liabilities superior
recovery prospects in the event of default.

RATING SENSITIVITIES IDRs, VRs, Senior Unsecured Debt and Revolving
Credit Facility

Fitch views upward rating momentum as limited given current modest
pre-tax operating performance levels and elevated execution risk
while CIT seeks to complete the management transition, integrate
OneWest and explore strategic alternatives for its commercial
aerospace business and the sale of certain international
businesses.

Positive rating momentum could develop over a longer-term horizon
as a result of improved and consistent operating performance,
demonstrated credit performance through market cycles in line with
expectations, maintenance of appropriate capital levels relative to
the company's risk profile and regulatory minimums, an enhanced
funding profile characterized by less reliance on wholesale funding
sources, and demonstrated durability of deposits in a rising
interest rate environment.

Negative rating momentum could be driven by a sustained weakness in
operating performance which results in insufficient capital
generation or a material change in risk appetite or strategic
objectives. Expansion into new business verticals outside CIT's
core commercial lending and leasing expertise or outsized growth in
new commercial businesses may lead to negative rating momentum.
Challenges during the OneWest integration process or an inability
to successfully manage the increased regulatory requirements
associated with assets exceeding the $50 billion threshold would
also be viewed negatively.

The senior unsecured debt rating and the revolving credit facility
rating are equalized with CIT's long-term IDR, and therefore are
sensitive to any changes in CIT's IDR.

RATING SENSITIVITIES - Support Ratings and Support Rating Floors

CIT's Support Rating and Support Rating Floor are sensitive to
Fitch's assumptions around capacity to procure extraordinary
support in case of need.

RATING SENSITIVITIES - Long- and Short-Term Deposit Ratings

CIT Bank's uninsured deposit ratings are rated one notch higher
than the company's IDR and therefore are sensitive to any changes
in CIT Bank's IDR. The deposit ratings are primarily sensitive to
any change in CIT Bank's long- and short-term IDRs.

Fitch has affirmed the following ratings with a Stable Outlook:

CIT Group Inc.
-- Long-term IDR at 'BB+';
-- Short-term IDR at 'B';
-- Viability Rating at 'bb+';
-- Senior Unsecured Debt at 'BB+';
-- Revolving Credit Facility at 'BB+';
-- Support Rating at '5';
-- Support Rating Floor at 'NF'.

CIT Bank, N.A.
-- Long-term IDR at 'BB+';
-- Short-term IDR at 'B';
-- Viability Rating at 'bb+';
-- Long-Term Deposit Rating at 'BBB-';
-- Short-Term Deposit Rating at 'F3';
-- Support Rating at '5';
-- Support Rating Floor at 'NF'.


CLOUDBREAK ENTERTAINMENT: Case Summary & 13 Top Unsec Creditors
---------------------------------------------------------------
Debtor: Cloudbreak Entertainment, Inc.
        2958 Exposition Blvd.
        Santa Monica, CA 90404

Case No.: 15-28443

Chapter 11 Petition Date: December 1, 2015

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

Judge: Hon. Neil W. Bason

Debtor's Counsel: Jeremy V Richards, Esq.
                  PACHULSKI STANG ZIEHL & JONES LLP
                  10100 Santa Monica Bl Ste 13th Fl
                  Los Angeles, CA 90067
                  Tel: 213-277-2346
                  Fax: 310-201-0760
                  Email: jrichards@pszjlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Conrad Riggs, president.

A list of the Debtor's 13 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb15-28443.pdf


CLUBCORP CLUB: Moody's Affirms B1 CFR & Rates Upsized Revolver Ba1
------------------------------------------------------------------
Moody's Investors Service affirmed ClubCorp Club Operations, Inc.'s
Corporate Family Rating at B1 and its Speculative Grade Liquidity
rating of SGL-1 following the company's announcement that it plans
to upsize its revolver and repay a portion of its existing term
loan with proceeds from a proposed notes offering. At the same
time, Moody's upgraded the company's Probability of Default Rating
(PDR) to B1-PD from B2-PD, which is in line with the company's CFR,
due to a change in the mix of debt in the company's capital
structure resulting in the expected family recovery rate being
reduced to 50% from 65%.  The bank facilities are viewed as new
debt instruments by Moody's due to the extended maturity dates.
ClubCorp's existing senior debt ratings will be withdrawn upon the
close of the proposed transaction.  The rating outlook is
maintained at stable.

The company's credit metrics moderately weaken pro forma for the
newly proposed capital structure, thus the affirmation of
ClubCorp's B1 CFR is somewhat prospective in nature in that Moody's
expects leverage and interest coverage to improve over the next 12
to 18 months.  For the twelve months ended Sept. 8, 2015, pro forma
for the new capital structure, Moody's adjusted debt-to-EBITDA was
approximately 5.2 times and EBITA-to-cash interest coverage was
roughly 1.8 times.  Moody's expects leverage to trend toward the
4.5 to 5.0 times range by FYE16 and cash coverage of interest to
approach 2.0 times during the same period.  Moody's also expects
membership rates to remain healthy, supported by its relatively
affluent base, and for the company to continue to grow its top-line
and profitability organically and to a lesser extent through
acquisitions over time.

The transaction also improves the company's liquidity profile by
extending debt maturities, increasing the size of the revolving
credit facility, and by repaying existing borrowings of roughly $47
million.

According to Moody's Analyst Brian Silver, "ClubCorp has grown its
top-line and experienced solid operating performance over the last
few years while aggressively growing its portfolio of clubs via
acquisitions.  However, leverage also increased during this period,
primarily as a result of the largely debt-financed nature of the
acquisitions and significant growth-oriented capital investments at
new and existing properties.  Going forward we expect the company
to reap the benefits of these investments by growing profitability
and using excess cash flow for debt repayment over the next few
years."

These ratings at ClubCorp Club Operations, Inc. have been
assigned:

  $175 million super priority senior secured revolving credit
   facility due 2021 rated Ba1 (LGD1);

  $625 million senior secured term loan B due 2022 rated Ba3
   (LGD3);

  $400 million senior unsecured notes due 2023 rated B3 (LGD5).

These ratings at ClubCorp Club Operations, Inc. have been
upgraded:

  Probability of Default Rating to B1-PD from B2-PD.

These ratings at ClubCorp Club Operations, Inc. have been
affirmed:

Corporate Family Rating at B1;

  Speculative Grade Liquidity Rating at SGL-1.

These ratings at ClubCorp Club Operations, Inc. will be withdrawn
upon the close of the transaction:

  $135 million senior secured revolving credit facility due 2018
   rated B1 (LGD3);

  $901 million senior secured term loan B due 2020 rated B1
   (LGD3).

The rating outlook is maintained at stable

RATINGS RATIONALE

ClubCorp's B1 Corporate Family Rating (CFR) reflects the company's
relatively high leverage considering the potential cyclicality of
its highly discretionary core business as a golf and business club
owner/operator.  At the same time, the rating is supported by
ClubCorp's leadership position in the private golf club business
and its solid and growing recurring revenue base supported by a
dues-based business model and affluent clientele.  ClubCorp is
expected to remain acquisitive in the highly fragmented golf club
space, but is unlikely to make many acquisitions the size of
Sequoia (included 50 clubs) due to a limited number of
owner/operators with such a large amount of clubs.  ClubCorp
targets clubs near densely populated and affluent areas, often with
the goal of clustering its properties, thereby enhancing the value
proposition of its primary upgrade offering that among other
things, provides members benefits at other ClubCorp properties. The
company generates healthy and consistent cash flow from operations,
but free cash flow generation has been tempered by steadily
increasing growth oriented capital expenditures.  Free cash flow
generation is expected to accelerate once growth oriented capital
expenditures moderate as maintenance capital expenditures are
relatively low.

The stable rating outlook reflects Moody's expectation that
ClubCorp will be able to maintain its membership base and stable
operating performance over the intermediate term.  Moody's also
expects the company to utilize excess cash flow to deleverage over
the next few years.  In addition, the stable rating outlook
incorporates Moody's expectation that ClubCorp will maintain a very
good liquidity profile and that it will exercise a conservative
financial policy with respect to dividends, share repurchases and
acquisitions.

A ratings upgrade is unlikely in the near term given ClubCorp's
size (based on total revenues) and geographic concentration.  Over
the intermediate term, a substantial expansion of the membership
base and geographic diversification, accompanied by Moody's
adjusted debt-to-EBITDA sustained below 4.0 times and EBITA-to-cash
interest expense above 3.0 times could lead to an upgrade.
Alternatively, ratings could be downgraded if ClubCorp's leverage
as measured by Moody's adjusted debt-to-EBITDA approaches 5.5
times, or EBITA-to-cash interest expense approaches 1.25 times.
Ratings could also be downgraded if liquidity deteriorates for any
reason, if the company undertakes sizeable debt-financed
acquisitions, or if management initiates more aggressive policies
with respect to dividends and share repurchases.

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

ClubCorp Club Operations, Inc. is one of the largest owners,
operators and managers of private golf, country, business, sports
and alumni clubs in North America and the largest owner of golf
clubs in the US.  As of Sept. 8, 2015, the company operated 206
clubs (158 golf & country clubs and 48 business, sports & alumni
clubs) with locations in 26 states, the District of Columbia, and
two foreign countries (Mexico and China) serving more than 430,000
individual members via approximately 185,000 memberships.  The
company's parent, ClubCorp Holdings, Inc. (NYSE: MYCC), completed
an IPO in Sept. 2013.  During the twelve month period ended
Sept. 8, 2015, ClubCorp generated approximately $1.02 billion of
revenues.



CLUBCORP CLUB: S&P Affirms 'B+' CCR, Outlook Stable
---------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B+'
corporate credit rating on ClubCorp Club Operations Inc.  The
outlook is stable.

"At the same time, we assigned our 'BB' issue-level rating to
ClubCorp's proposed $175 million five-year senior secured priority
revolver, with a recovery rating of '1'.  The '1' recovery rating
reflects a first-out provision for the proposed revolver in the
credit agreement compared to the proposed term loan, and our
expectation for very high (90% to 100%) recovery for lenders in the
event of a payment default.  We also assigned our 'BB-' issue-level
rating to the proposed $625 million term loan B due 2022, with a
recovery rating of '2', indicating our expectation for substantial
(70%-90%; lower half of the range) recovery for lenders in the
event of a payment default.  In addition, we assigned our 'B-'
issue-level rating to ClubCorp's proposed $400 million senior
unsecured notes due 2023, with a recovery rating of '6', indicating
our expectation for negligible recovery (0%-10%) for lenders in the
event of a payment default," S&P said.

ClubCorp expects to use the proceeds to repay about $900 million
outstanding under its existing term loan B, $47 million outstanding
under the company's existing revolving credit facility, and to fund
potential acquisitions.

"The affirmation of our 'B+' corporate credit rating on ClubCorp
reflects a modest increase in our base-case leverage forecast
through 2016 given the proposed transactions are primarily to
refinance outstanding debt balances, and our belief the company
will build adequate debt capacity in its leverage profile prior to
pursuing additional significant acquisitions and sustain leverage
under our 6x downgrade threshold," said Standard & Poor's credit
analyst Emile Courtney.

S&P's rating outlook on ClubCorp is stable.  Despite S&P's belief
ClubCorp could continue to pursue a significant level of strategic
acquisitions over the next few years, S&P believes the company will
build in adequate debt capacity to accommodate them in a manner
that sustains lease-adjusted debt to EBITDA below 6x on average.

S&P could lower the rating if operating performance is materially
worse than its expectations or if the company pursues a more
aggressive acquisition policy than S&P currently anticipates, such
that total lease-adjusted debt to EBITDA stays above the 6x area.

An upgrade is unlikely at this point, given S&P's belief that even
if ClubCorp were to outperform S&P's expectations, the company will
pursue acquisitions that could increase leverage.  However, in the
event S&P is confident ClubCorp can sustain its measure of total
lease-adjusted debt to EBITDA under 5x over the long term,
incorporating the company's appetite for acquisitions, S&P could
consider higher ratings.



COCO BEACH: Can Sell Golf & Country Club to OHG for $2.2-Mil.
-------------------------------------------------------------
Coco Beach Golf & Country Club, S.E., sought and obtained approval
from the United States Bankruptcy Court for the District of Puerto
Rico to sell substantially all of its assets, including the golf
and country club, to OHorizons Global, LLC, for $2.2 million.

The Debtor declared OHG as the Successful Bidder at the auction
conducted on November 18, 2015, after OHG increased its stalking
horse bid by $157,471 to $2,200,000.  Following approval of the
sale, the Sales Deed and related Asset Purchase Agreement were
subscribed and completed.

The Court approved Coco Beach's agreement to pay OHG a break-up fee
in the amount of $60,000 and to reimburse OHG for its expenses of
up to $50,000 upon the closing of any Sale to a third party
pursuant to the Amended Bidding Procedures Order that was entered
on September 2, 2015.

The Court overruled Platinum Capital Partners, Inc.'s objection to
the approval of the sale of the assets to OHG.

Platinum, which also placed its bid for the Debtor's assets,
complained that the November 18 auction did not comply with the
Amended Bidding Procedures approved by the Court.  Platinum
asserted that it should have been named as the Successful Bidder
and the estate should have been sold to the only Qualified Over
Bidder.

The Debtor, in response to Platinum, maintained that the Sale
satisfies the "sound business purpose test" and pointed out that
the Golf & Country Club is operating using backup generators, lacks
funds to cover payroll, insurance and imminent preservation
expenses.  In sum, the Debtor can no longer afford to operate the
Golf & Country Club and the Auction has obtained the highest and
best offer for the Purchased Assets, the Debtor said.  OHG joined
in the Debtor's response to Platinum's objection.

Coco Beach Golf & Country Club, S.E. is represented by:

         Wigberto Lugo Mender, Esq.
         LUGO MENDER GROUP, LLC
         100 Carr. 165, Suite 501
         Guaynabo, PR 00968-8052
         Tel: (787) 707-0404
         Email: wlugo@lugomender.com

Platinum Capital Partners, Inc. is represented by:

         Rebeca Caquias Mejias, Esq.
         FIDDLER, GONZALEZ & RODRIGUEZ, PSC
         P.O. Box 363507
         San Juan, PR 00936-3507
         Tel: 787-759-3184
         Fax: 787-759-3124
         Email: rcaquias@fgrlaw.com

                      About Coco Beach Golf

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

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


COCO BEACH: OHorizons Buys PR Golf Club for $2.2M
-------------------------------------------------
Cara Salvatore at Bankruptcy Law360 reported that a Puerto Rico
bankruptcy judge on Nov. 20, 2015, approved the sale of the Trump
International Golf Club on the island for $2.2 million to stalking
horse OHorizons Global LLC, who beat out rival Platinum Capital
Partners after Platinum's "highly unusual" objection to the
winner's financial qualifications.

According to court papers filed on Nov. 19 and Nov. 20, OHorizons
raised its bid to $2.2 million during the auction from the $2.145
million it had originally bid for the property, legally titled Coco
Beach Golf & Country Club Inc.

                      About Coco Beach Golf

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

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



COCO BEACH: Seeks to Consign $2.2MM in Estate Funds to Court
------------------------------------------------------------
Coco Beach Golf & Country Club, S.E., asks permission from the U.S.
Bankruptcy Court for the District of Puerto Rico to consign estate
funds with the Clerk of Court.

The Debtor asserts that in order to safeguard the distribution of
sale proceeds to conform to the provisions of Section 363(f) of the
Bankruptcy Code, it is necessary to consign the amount of
$2,200,000 corresponding to estate funds received from the sale
transaction.  Upon entry of an order allowing consignment, the
Debtor intends to deliver to the Honorable Clerk of The Bankruptcy
Court manager check number 0025967 issued by Citibank, N.A., for
the amount of $2,200,000.  These funds will be deposited in an
interest bearing deposit individual account this pursuant to FRBP
7067-1.

Coco Beach Golf & Country Club, S.E. is represented by:

     Wigberto Lugo Mender, Esq.
     LUGO MENDER GROUP, LLC
     100 Carr. 165 Suite 501
     Guaynabo, Puerto Rico 00968-8052
     Phone: (787) 707-0404
     Email: wlugo@lugomender.com

                      About Coco Beach Golf

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

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


CTI BIOPHARMA: Has Est. Net Financial Standing of $25M at Oct. 31
-----------------------------------------------------------------
CTI BioPharma Corp. or CTI Parent Company estimated net financial
standing as of Oct. 31, 2015, of $25.3 million.  The total
estimated and unaudited net financial standing of CTI Consolidated
Group as of Oct. 31, 2015, was $27.2 million.

CTI Parent Company trade payables outstanding for greater than 30
days were approximately $11.5 million as of Oct. 31, 2015.

CTI Consolidated Group trade payables outstanding for greater than
30 days were approximately $13.2 million as of Oct. 31, 2015.

During October 2015, there were solicitations for payment only
within the ordinary course of business and there were no
injunctions or suspensions of supply relationships that affected
the course of normal business.

During the month of October 2015, the Company's common stock, no
par value, outstanding increased by 39,882,480 shares.  As a
result, the number of issued and outstanding shares of Common Stock
as of Oct. 31, 2015, was 231,723,931.

                      About CTI BioPharma

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

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

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


DALLAS PROTON: Creditors' Committee Taps Pronske Goolsby as Counsel
-------------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Dallas Proton Treatment Holdings, LLC, et al., asks the
U.S. Bankruptcy Court for the Northern District of Texas for
permission to retain Pronske Goolsby & Kathman, P.C. as its
counsel.

Pronske Goolsby will, among other things:

   a) prepare on behalf of the Committee necessary motions,
answers, orders, reports, and other legal papers in connection with
the administration of the bankruptcy cases;

   b) perform any and all other legal services for the Committee in
connection with the bankruptcy case; and

   c) perform legal services as the Committee may request with
respect to any matter, including, but not limited to, corporate
finance and governance, contracts, antitrust, labor, and tax.

To the best of the Debtors' knoweldge, Gerrit M. Pronske does not
hold or represent interest adverse to the Committee with respect to
the matters upon which it is to be engaged.

The firm can be reached at:

         Gerrit M. Pronske, Esq.
         Jason P. Kathman, Esq.
         PRONSKE GOOLSBY & KATHMAN, P.C.
         901 Main Street, Suite 610
         Dallas, TX 75202
         Tel: (214) 658-6500
         Fax: (214) 658-6509

             About Dallas Proton Treatment Center, LLC

Dallas Proton Treatment Center, LLC and Dallas Proton Treatment
Holdings, LLC filed Chapter 11 bankruptcy petitions (Bankr. N.D.
Tex. Case Nos. 15-33783 and 15-33784, respectively) on Sept. 17,
2015.  The petitions were signed by James Thomson as chief
technology officer/manager.  The Debtors, in an amended schedules,
disclosed total assets of $47,177,195 and total liabilities of   
$78,219,361.  Gardere Wynne Sewell LLP represents the Debtors as
counsel.


DALLAS PROTON: Parties Balk at Gardere Employment
-------------------------------------------------
Kelcy Warren and Dallas Proton, LLC, objected, on a limited basis,
to Dallas Proton Treatment Center, LLC's motion to employ Gardere
Wynne Sewell, LLP, as counsel.

The parties complained that Gardere is taking instructions from the
people who manage Advanced Particle Therapy, LLC, manager of the
Debtors.  There is simply too much opportunity for the former
client to instruct Gardere not as the management of the Debtors,
but as APT.

The parties added that if Gardere is to serve the interests of all
creditors by acting as counsel to the Debtors, Gardere has to
explain its past and present relationship with APT to the Court,
and to satisfy itself that its retention.

On Oct. 9, 2015, the Debtors requested for permission to employ
Gardere, to, among other things:

   a. assist the Debtors in the preparation of all administrative
documents required to be filed or prepared herein, and to prepare,
on behalf of the Debtors, all necessary applications, motions,
answers, responses, orders, reports and other legal documents
required;

   b. assist the Debtors in obtaining Court approval for use of
cash collateral or debtor-in-possession financing and other
negotiations with secured creditors; and

   c. take action as is necessary to preserve and protect the
Debtors' assets and interests therein, including prosecution
actions on the Debtors' behalf, defending any action commenced
against the Debtors, and representing the Debtors' interests in
negotiations concerning all litigation in which the Debtors are
involved, including objections to claims filed against the estate;

Gardere has received a $145,066 as retainer for its services.
Additionally, Gardere has been compensated for services provided to
the Debtors prior to the Petition Date in the ordinary course in
the amount of $180,659.  Professionals expected to represent the
Debtors and their hourly rates are:

      Name                         Position     Hourly Rates
      ----                         --------     ------------
Holland N. O'Neil                  Partner          $685
Marcus A. Helt                     Partner          $500
Mark C. Moore                      Associate        $300
Karen Oliver                       Paralegal        $235

Gardere will also charge its clients for all other out-of-pocket
expenses incurred in connection with the clients' cases.

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

The firm can be reached at:

         Marcus A. Helt, Esq.
         Mark C. Moore, Esq.
         GARDERE WYNNE SEWELL LLP
         1601 Elm Street, Suite 3000
         Dallas, TX 75201-4761
         Tel: (214) 999-3000
         Fax: (214) 999-4667
         E-mails: mhelt@gardere.com
                  mmoore@gardere.com

             About Dallas Proton Treatment Center, LLC

Dallas Proton Treatment Center, LLC and Dallas Proton Treatment
Holdings, LLC filed Chapter 11 bankruptcy petitions (Bankr. N.D.
Tex. Case Nos. 15-33783 and 15-33784, respectively) on Sept. 17,
2015.  The petitions were signed by James Thomson as chief
technology officer/manager.  The Debtors, in an amended schedules,
disclosed total assets of $47,177,195 and total liabilities of   
$78,219,361.  Gardere Wynne Sewell LLP represents the Debtors as
counsel.


DENISSE MARTINEZ: Bid for Leave to File Interlocutory Appeal Denied
-------------------------------------------------------------------
Judge Gustavo A Gelpi of the United States District Court for the
District of Puerto Rico denied Denisse Rodriguez Martinez's motion
for leave to file an interlocutory appeal from the United States
Bankruptcy Court for the District of Puerto Rico's order.

Martinez challenged the bankruptcy court's denial of her
application to employ her former attorney, Alexandra Bigas Valedon,
as the notary public for the sale of her property.  The bankruptcy
court denied the application due to conflict of interest.

Judge Gelpi found that the bankruptcy court's denial of attorney
Bigas Valedon's request to be appointed as notary public for the
sale of Martinez's property is not a determination that may
materially advance the ultimate termination of the litigation.  As
such, the judge held that the district court's exercise of
discretionary appellate jurisdiction is not recommended.

The case is In Re: DENISSE RODRIGUEZ MARTINEZ, Debtor, CASE NO.
3:15-CV-02064-GAG, BANKR. CASE NO. 14-4946 (EAG) (D.P.R.).

A full-text copy of Judge Gelpi's November 10, 2015 opinion and
order is available at http://is.gd/AJyvABfrom Leagle.com.

Denisse J Rodriguez-Martinez is represented by:

          Modesto Bigas-Mendez, Esq.
          P.O. Box 7462
          Ponce, PR 00732
          Tel: (787) 844-1444
          Fax: (787) 842-4090

US Trustee is represented by:

          Jill E. Kelso, Esq.
          UNITED STATES DEPARTMENT OF JUSTICE
          George C. Young Federal Building
          400 West Washington Street, Suite 1100
          Orlando, FL 32801
          Tel: (407) 648-6301
          Fax: (407) 648-6323

            -- and –-

          Nancy Pujals, Esq.
          U.S. TRUSTEE OFFICE
          Edificio Ochoa
          500 Tanca Street Suite 301
          San Juan, PR 00901-1922
          Tel: (787) 729-7444
          Fax: (787) 729-7449


E. H. MITCHELL: Court Confirms Third Amended Plan
-------------------------------------------------
Judge Jerry A. Brown entered an order confirming E. H. Mitchell &
Company's Third Amended Plan of Reorganization with immaterial
modifications.

Judge Brown's Oct. 26, 2015 order provides that:

   * The requirements of 28 U.S.C. Sec. 1930 be complied with by
the Debtor until the issuance of a Final Decree.

   * A narrative post-confirmation report is to be filed within 180
days of the effective date, detailing the steps taken toward
consummation of the plan.  Additional reports are to be filed
annually thereafter until a motion for final decree is filed.

The Debtor disclosed that these creditors voted in favor of the
Plan:

   Class  Claim No.  Creditor                           Amount
   -----  ---------  --------                           ------
     1       N/A     First National Bank of Picayune   $314,000

     2        6      Ezkovich & Co., LLC               $109,203
              7      Kathie B. Rickert                 $142,659
              5      Reginald J. Laurent               $675,000

     3        3      Standard Gravel Co., In.          $116,801

No ballots were received from unsecured insiders (Class 6) and from
Brian Furr and Michael Furr on account of their equity interests
(Class 7).

The Debtor did not receive ballots rejecting the Plan.

According to the Debtor, Reginald J. Laurent filed Claim No. 5 on
June 18, 2014 in the amount of $2,960,729 and a secured claim in
the amount of $3,014,200 as a statutory lien.  The matters were
tried by Hon. Jane Triche Milazzo in U.S. District Court Case No.
14-959 c/w 14-2222 & 14-2224.  Prior to a ruling, the parties
advised the Court that a settlement had been reached on the matter.
The case was settled between the parties pursuant to a minute
entry by Mag. Judge Michael B. North in the amount of $675,000 and
Luarent filed a new Proof of Claim on Sept. 4, 2015, in the amount
of $675,000.

                  Third Amended Plan, as Modified

The Debtor on Sept. 3, 2015, filed its Third Amended Plan of
Reorganization Containing Immaterial Modifications.  A copy of the
document is available for free at:

   http://bankrupt.com/misc/EH_Mitchell_273_3rd_Am_Plan_IM.pdf

The Plan provides that:

   * The secured Claim of First Nation Bank of Picayune (Class 1)
in whatever amount due on the date of confirmation of the Plan
(current balance is $275,521) will be re-instated and otherwise
continued in full force and effect for the approximately 2 years
remaining on it and extended on the same current terms and interest
rate for an additional 5 years with all amounts then due and owing
due and payable in the form of a balloon note to be executed by the
Debtor.

   * The holders of undisputed unsecured claims of Alan Ezkovich,
Kathy Rickert, & Reginald J. Laurent (Class 2) will share pro rata
the sum of $17,000 per quarter with the first payment being made on
the 91st day after the order confirming the Plan becomes final and
non-appealable, or the 91st day after all administrative expense
claims are paid in full, whichever date is later.

   * The unsecured claim of Standard Gravel Co., Inc. (Class 3) is
unimpaired under the Plan.

   * Holders of unsecured insider claims (Class 6) will be
satisfied by the payment of $17,000 [per quarter], with the first
payment due on the 91st day after all superior classes have been
fully satisfied. Any amount deemed to be due and owed to this Class
by a court of record will be satisfied only after Classes 2, 3, and
4 have been fully satisfied.

   * Holders of interests in the Debtor (Class 7) will not receive
any distribution on account of their interests, but will be
permitted to retain ownership of their interests.

Class 4 (Disputed and unliquidated secured claim of Laurent) and
Class 5 (Disputed secured claim of insider Steven Furr) were
eliminated from the confirmed version of the Plan.

                  About E. H. Mitchell & Company

E. H. Mitchell & Company LLC sought protection under Chapter 11 of
the Bankruptcy Code on Oct. 8, 2013, (Case No. 13-12786, Bankr.
E.D. La.).  The case is assigned to Judge Jerry A. Brown.

The petition was signed by Michael Furr, secretary/member.

The Debtor disclosed $300,027,297 in assets and $1,281,148 in
liabilities.

The Debtor is represented by Robert L. Marrero, Esq., at Robert
Marrero, LLC, in New Orleans, Louisiana.

Henry G. Hobbs, Jr., Acting United States Trustee for Region 5,
appointed three members to the official committee of unsecured
creditors.


EASTMOND & SONS: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

         Debtor                                     Case No.
         ------                                     --------
         A.L. Eastmond & Sons, Inc.                 15-13214
         1175 Leggett Avenue
         Bronx, NY 10474

         Easco Boiler Corp.                         15-13215
         1175 Leggett Avenue
         Bronx, NY 10474

         Eastmond & Sons Boiler Repair &            15-13217
         Welding Service, Inc.
         1175 Leggett Avenue
         Bronx, NY 10474

Type of Business: Welding and boiler repairs specialist

Chapter 11 Petition Date: December 1, 2015

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

Judge: Hon. Sean H. Lane

Debtors' Counsel: Tracy L. Klestadt, Esq.
                  KLESTADT WINTERS JURELLER
                  SOUTHARD & STEVENS, LLP
                  200 West 41st Street, 17th Floor
                  New York, NY 10036-7203
                  Tel: (212) 972-3000
                  Fax: (212) 972-2245
                  Email: tklestadt@klestadt.com

                    - and -

                  Stephanie R. Sweeney, Esq.
                  KLESTADT WINTERS JURELLER
                  SOUTHARD & STEVENS, LLP
                  200 West 41st Street, 17th Floor
                  New York, NY 10036
                  Tel: 212-972-3000
                  Fax: 212-972-2245
                  Email: ssweeney@klestadt.com

                    - and -

                  Maeghan J. McLoughlin, Esq.
                  KLESTADT WINTERS JURELLER
                  SOUTHARD & STEVENS, LLP
                  200 West 41st Street, 17th Floor
                  New York, NY 10036
                  Tel: 212-972-3000
                  Email: mmcloughlin@klestadt.com

                                        Estimated    Estimated
                                         Assets     Liabilities
                                      -----------   -----------
A.L. Eastmond & Sons                  $27.93MM      $14.78MM
Easco Boiler Corp.                    $1MM-$10MM    $10MM-$50MM
Eastmond & Sons Boiler                $1MM-$10MM    $10MM-$50MM

The petition was signed by Arlington Leon Eastmond, Jr.,
president.

List of A.L. Eastmond & Sons, Inc.'s 20 Largest Unsecured
Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Day Pitney, LLP                                         $464,603
P.O. Box 416234
Boston, MA 02241

First Insurance Funding                                 $160,185

NYS Insurance Fund                                       $59,431

NYC Waterboard                                           $41,827

Marks Paneth                                             $35,835

Faust Goetz Schenker & Blee                              $26,121

Keen-Summit Capital Partners                             $25,717

Ford Credit                                              $23,682

Ford Credit                                              $17,795

Lambent Risk Management                                  $14,746

Ford Credit                                              $13,914

NYC Department of Finance                                 $9,015

Expert Sprinkler Maintenance                              $8,500

Elite Investigations, Ltd.                                $6,079

QEC Electrical Services Corp.                             $6,000

Michael Development                                       $5,665

Andrews Technology HMS, Inc.                              $2,406

Brandt, Steinberg & Lewis, LLP                            $2,325

Finance Commissioner, NYC                                 $2,200

Fire Department of New York                               $2,100


EASTMOND & SONS: Files for Chapter 11 to Avoid Foreclosure
----------------------------------------------------------
New York based and family-owned HVAC companies A. L. Eastmond &
Sons, Inc., et al., sought for Chapter 11 bankruptcy protection in
order to stop a foreclosure and sale of their collateral properties
by their secured lender.  The Debtors said the filing was necessary
to preserve the value of the Collateral and maintain their business
as a going concern.

The Debtors believe that through chapter 11, they can restructure
their business into a leaner, more efficient operation that can
return to profitability.  

According to documents filed with the Court, the Debtors are
parties to pre-petition secured financing agreements with CCHP, LLC
(as assignee of Stabilis Fund, II, LLC, as assignee of Sovereign
Bank), in the outstanding amount as of the Petition Date of
approximately $11,973,346, including legal fees.  The Pre-petition
Secured Credit Agreement is secured by various of the Debtors' real
estates with a combined market value of $21,100,000.

Arlington Leon Eastmond, Jr., president of the Debtors, said that
in or around December 2009, the Debtors suffered from a lack of
liquidity and declining revenue resulting from the economic
recession and defaulted under a Secured Credit Agreement by, among
other things, failing to meet certain financial covenants and make
certain payments when due.

CCHP, LLC's predecessor filed a complaint before the Supreme Court
of the State of New York, County of Bronx, Index No. 381158/13,
against the Debtors, Mr. Eastmond, and others, asserting breach of
the guaranties and seeking foreclosure and sale of its interests in
the Collateral Properties.

Mr. Eastmond disclosed the Debtors and the Secured Lender entered
into good faith negotiations in an attempt to reach a settlement of
the Foreclosure Action.  Notwithstanding the Debtors' continued
negotiations with the Secured Lender, on Oct. 29, 2015, the Secured
Lender filed a Motion in the Foreclosure Action seeking, among
other things, a final Judgment of Foreclosure and Sale of the
Collateral Properties, which was scheduled to be heard on Dec. 2,
2015.

In addition to the Foreclosure Action, the Debtors were involved in
defending multiple litigations, requiring legal services of various
litigation counsel in the years leading up to the Petition Date.

During the pendency of their Chapter 11 cases, the Debtors said
they intend to increase liquidity by selling real estate for
maximum value, repaying and/or refinancing their obligations under
the Pre-petition Secured Credit Agreement, and resolving their
pending litigation.

The Debtors have retained real estate brokers, including
Keen-Summit Capital Partners LLC, to market certain of the
Collateral Properties that could be sold to repay their obligations
to the Secured Lender.

The Debtors believe that the Chapter 11 process affords a better
opportunity to provide a greater return to their creditors than any
alternative wind down or liquidation process.

The Debtors intend to emerge from Chapter 11 to continue their
legacy of providing high quality products and services for future
generations.

                        First Day Motions

In order to continue operating effectively as debtors in
possession, the Debtors said they require approval of certain
transactions and dealings immediately.  The Debtor seek permission
from the Bankruptcy Court to pay employee wages, use cash
collateral, and to honor a prepetition insurance premium finance
agreement.

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

        http://bankrupt.com/misc/4_EASTMOND_Affidavit.pdf

                       About Eastmond & Sons

A.L. Eastmond & Sons, Inc., Easco Boiler Corp. and Eastmond & Sons
Boiler Repair & Welding Service, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. S.D.N.Y. Case Nos. 15-13214, 15-13215 and
15-13217, respectively) on Dec. 1, 2015.  The petitions were signed
by Arlington Leon Eastmond, Jr., as president.  The Debtors have
engaged Klestadt Winters Jureller Southard & Stevens, LLP as
counsel.  The Debtors listed total assets of $34.59 million and
total liabilities of $40.79 million.  Judge Sean H. Lane has been
assigned the case.

The Debtors have provided products and services in over 15,000
locations throughout the tristate area and beyond, including Yankee
Stadium, the Trump Towers, Kings County Supreme Court, New York
Botanical Garden/Bronx Zoo, Queens County Civil Court, North Shore
University, Detroit School District, the Garfield Park Field House
in Chicago, Illinois, and the National Geographic Building in
Washington, D.C., to name a few.


EASTMOND & SONS: Seeks Joint Administration of Cases
----------------------------------------------------
A. L. Eastmond & Sons, Inc., Easco Boiler Corp. and Eastmond & Sons
Boiler Repair & Welding Service, Inc. ask the Bankruptcy Court to
direct the joint administration of their Chapter 11 cases for
procedural purposes only.

Bankruptcy Rule 1015(b) provides that "[i]f ... two or more
petitions are pending in the same court by or against ... a debtor
and an affiliate, the court may order a joint administration of the
estates."

As a result of their common ownership, the Debtors said they are
"affiliates" as that term is defined under Section 101(2) of the
Bankruptcy Code.

The Debtors believe that joint administration of their Chapter 11
cases is warranted because their financial affairs and business
operations are closely related.  Entry of an order directing joint
administration of these cases will avoid duplicative notices,
applications and orders, and will thereby save considerable time
and expense for the Debtors and result in substantial savings to
their estates, the Debtors maintain.

According to the Debtors, the rights of their respective creditors
will not be adversely affected by joint administration of these
cases because this Motion requests only administrative
consolidation of the estates.

                      About Eastmond & Sons

A.L. Eastmond & Sons, Inc., Easco Boiler Corp. and Eastmond & Sons
Boiler Repair & Welding Service, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. S.D.N.Y. Case Nos. 15-13214, 15-13215 and
15-13217, respectively) on Dec. 1, 2015.  The petitions were signed
by Arlington Leon Eastmond, Jr., as president.  The Debtors have
engaged Klestadt Winters Jureller Southard & Stevens, LLP as
counsel.  The Debtors listed total assets of $34.59 million and
total liabilities of $40.79 million.  Judge Sean H. Lane has been
assigned the case.

The Debtors have provided products and services in over 15,000
locations throughout the tristate area and beyond, including Yankee
Stadium, the Trump Towers, Kings County Supreme Court, New York
Botanical Garden/Bronx Zoo, Queens County Civil Court, North Shore
University, Detroit School District, the Garfield Park Field House
in Chicago, Illinois, and the National Geographic Building in
Washington, D.C., to name a few.


EASTMOND & SONS: Wants to Use Secured Parties' Cash Collateral
--------------------------------------------------------------
A. L. Eastmond & Sons Inc., Easco Boiler Corp. and Eastmond & Sons
Boiler Repair & Welding Service, Inc. seek authority from the
Bankruptcy Court to use cash collateral securing the indebtedness
to CCHP LLC and other parties, to fund their day-to-day business
operations during the pendency of their Chapter 11 cases.  The
Debtors intend to use Cash Collateral for general operating
expenses and costs incurred in the ordinary course of business.

These parties hold interest in the Debtors' cash collateral: (1)
CCHP, LLC, (2) The Estates of Crystal House Ltd., (3) City of New
York, (4) Enviro Probe Inc., (5) Board of Trustees of the Service
Employees 32BJ North Health Benefit Fund and the Service Employees
32BJ North Health Pension Fund and the Service Employees 12BJ North
Legal Services Fund, (6) Service Employees 32BJ North Health
Benefit Fund (the Health Fund), Service Employees 32BJ North
Pension Fund (Pension Fund) and Service Employees 32BJ North Legal
Services Fund (Legal Fund), (7) Commissioner of Labor, State of New
York, (8) Criminal Court of the City of New York, (9) Internal
Revenue Service, (10) New York State Department of Tax & Finance,
and (11) City of New York Law Department.

The Debtors propose to use Cash Collateral for an interim duration
of cash period of 15 days and a final period of 90 days following
the collateral Petition Date, which may be extended upon further
approval of the Court.

As of the Petition Date, the aggregate amount outstanding under the
Prepetition Secured Credit Agreement with CCHP, together with
accrued and unpaid interest, is $11,973,346.

The Debtors believe that the Secured Lender is oversecured. The
Debtors relate that pursuant to a recent third party appraisal
conducted in connection with a potential refinancing facility, as
of Sept. 1, 2015, the Collateral Properties have a combined market
value of $21,100,000.

The Debtors propose to provide adequate protection to the Secured
Lender, the Easco Secured Creditors and the Eastmond & Sons Secured
Creditors.  Although the Secured Lender is fully secured, the
Secured Lender will receive replacement liens on the Debtors'
post-interest in cash petition receivables, inventory and proceeds
of the Estate Collateral Collateral Properties, to the same extent
and with the same priority and validity that they had as of the
Petition Date.  The Debtors will also provide the Secured Lender
with monthly interest payments as set forth in the Budget at the
Wall Street Journal prime rate.

The Easco Secured Creditors and the Eastmond & Sons Secured
Creditors will receive replacement liens on the applicable Debtor's
post-petition receivables, inventory and other assets, to the same
extent and with the same priority and validity that they had as of
the Petition Date.

The Debtors are not seeking any carve-out from the Cash Collateral
for professional fees or to reserve funds in the event of
conversion or dismissal of these cases.

                      About Eastmond & Sons

A.L. Eastmond & Sons, Inc., Easco Boiler Corp. and Eastmond & Sons
Boiler Repair & Welding Service, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. S.D.N.Y. Case Nos. 15-13214, 15-13215 and
15-13217, respectively) on Dec. 1, 2015.  The petitions were signed
by Arlington Leon Eastmond, Jr., as president.  The Debtors have
engaged Klestadt Winters Jureller Southard & Stevens, LLP as
counsel.  The Debtors listed total assets of $34.59 million and
total liabilities of $40.79 million.  Judge Sean H. Lane has been
assigned the case.

The Debtors have provided products and services in over 15,000
locations throughout the tristate area and beyond, including Yankee
Stadium, the Trump Towers, Kings County Supreme Court, New York
Botanical Garden/Bronx Zoo, Queens County Civil Court,
North Shore University, Detroit School District, the Garfield Park
Field House in Chicago, Illinois, and the National Geographic
Building in Washington, D.C., to name a few.


EDELMAN FINANCIAL: Moody's Assigns B1 CFR, Outlook Stable
---------------------------------------------------------
Moody's Investors Service has assigned a B1 corporate family rating
to The Edelman Financial Center, LLC (OpCo, "Edelman") following
the announcement of the leveraged buyout of Edelman Financial, L.P.
(HoldCo, "EFS") by private equity firm Hellman & Friedman.  Moody's
has also assigned B1 ratings to a $30 million revolving credit
facility and a $230 million senior secured term loan, the proceeds
of which will be used to fund the transaction. The buyout of
Edelman Financial, L.P. will also be funded with equity supplied by
Hellman & Friedman, Lee Equity Partners and EFS senior management,
including founder and CEO Ric Edelman.  The outlook on the
aforementioned ratings is stable.

RATINGS RATIONALE

The B1 corporate family rating reflects the strength of Edelman's
wealth management platform and the rapid and consistent growth of
its assets under management (AUM), which were $15.3 billion as of
Oct. 31, 2015.  The rating incorporates positive trends in the
company's credit profile, largely driven by its increasing, albeit
small, scale, strong asset retention and its successful focus on
the mass affluent segment in the highly fragmented Registered
Investment Advisor (RIA) universe.

Despite this positive momentum, Moody's views Edelman's leverage,
at 5.2X, to be a risk, given the company's small scale,
concentration in a single distribution channel (retail) and a
below-average pre-tax income margin.  Additionally, the central
role played by founder and CEO Ric Edelman in the asset gathering
process gives rise to substantive levels of key man risk.  Rather
uniquely, the company relies on the popularity of Mr. Edelman's
weekly radio shows, television appearances and best-selling
financial advice books to grow its asset base.  Moody's notes that
while the company has taken proactive steps to mitigate this risk,
it still remains, nevertheless.

The ratings and/or outlook could see upward pressure based on clear
evidence of continued growth in scale, progress in lowering
leverage, enhanced profitability, improved product diversification
and/or the mitigation of key man risk associated with Mr. Edelman.
With its approach of investing client assets in proprietary
portfolios consisting primarily of passive, low-cost third-party
mutual funds and ETFs, Edelman is well-positioned to take advantage
of the secular flow of assets out of active management. However,
should this trend reverse, the company's limited product offering
could put downward pressure on the rating.

These ratings were assigned:

  Long Term Corporate Family Rating -- B1
  $230 million Senior Secured Term Loan -- B1
  $30 million Senior Secured Revolving Credit Facility -- B1

The Edelman Financial Center, LLC is one of the largest independent
Registered Investment Advisor firms in the United States and has
provided integrated financial planning and investment management
services for 28 years.  As of Oct. 31, 2015, the company served
over 28,000 households and had approximately $15.3 billion in
assets under management.

The principal methodology used in these ratings was Asset Managers:
Traditional and Alternative published in February 2014.



EDELMAN FINANCIAL: S&P Assigns 'B+' ICR, Outlook Stable
-------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B+' issuer
credit rating on The Edelman Financial Center LLC.  The outlook is
stable.  At the same time, S&P assigned its 'B+' issue rating and
'3' recovery rating on the company's proposed $230 million
first-lien term loan B with a seven-year maturity and
$30 million five-year revolving credit facility.  The '3' recovery
rating indicates S&P's expectation for meaningful recovery
(50%-70%; lower end of the range) in the event of a payment
default.

Edelman is a registered investment adviser that provides integrated
financial planning and investment management services using a
fee-based, automatically rebalancing wrap program that utilizes
low-cost exchange-traded funds and mutual funds and focuses on mass
affluent customers.  Hellman & Friedman LLC (H&F), a private equity
firm, is acquiring a majority stake of Edelman. The existing
owners, Lee Equity Partners LLC, and the company's management will
roll over a significant minority interest in the transaction.

"Our assessment of the company's business risk profile reflects the
company's narrow business model and a relatively limited
competitive advantage in a highly competitive asset management
industry," said Standard & Poor's credit analyst Olga Roman.
Additionally, with $15.3 billion assets under management (AUM) as
of Oct. 31, 2015, Edelman is one of the smallest asset managers S&P
rates.  The company's consistent positive net flows and customer
diversification only partially offset those weaknesses.

Edelman's business model is centered on serving the mass affluent
segment, which the company defines as consumers with investible
assets between $100,000 and $2 million.  The average household
account has client assets of about $500,000.  The core of the
Edelman approach is personal financial planning and advice.  Most
investments are managed in the Edelman Managed Asset Program, which
selects asset allocation models based on client circumstances
including risk tolerances, time horizon, and investment objectives.


The stable outlook reflects S&P's expectation that Edelman will
continue increasing its AUM while maintaining its profitability and
financial risk profile.  S&P expects the company to operate with
debt to EBITDA below 5x and maintain adequate liquidity in the next
12 to 18 months.

S&P could lower the ratings if Edelman's debt to EBITDA rises above
5x because of either an unexpected drop in AUM or an increase in
debt.  S&P could also lower the ratings if Mr. Edelman left the
company and it resulted in meaningful disruptions in the company's
business or if the company faced operational issues or significant
civil litigation.

Given the company's relatively small AUM base and narrow business
model, as well as the private equity ownership, S&P views an
upgrade of Edelman as highly unlikely over the next 12 to 18
months.



EDUCATION REALTY: S&P Raises Corp. Credit Rating From BB+
---------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Education Realty Trust Inc. and its operating
partnership, Education Realty Operating Partnership LP
(collectively, EDR) to 'BBB-' from 'BB+'.  The outlook is stable.
S&P affirmed the 'BBB-' issue-level rating on the company's senior
unsecured notes and the recovery rating was withdrawn.

"The upgrade acknowledges EDR's improved credit metrics following
the early November equity issuance that resulted in proceeds of
approximately $270 million and reflects the company's strong
leasing results for the 2015/2016 academic year," said credit
analyst Michael Souers.

S&P believes EDR's stabilized communities will deliver modest
growth, supported by favorable near-term fundamentals, and will be
supplemented by the delivery of new development projects currently
in process.  These factors support the stable outlook.  In
addition, the outlook incorporates S&P's expectation that the
company will sustain debt to EBITDA below 7x, while the company
continues to transition to a more conservative balance sheet by
relying less on its revolver and variable rate financing.

Although unlikely in the near term, S&P would consider a downgrade
if fixed-charge coverage falls below 2.5x or debt to EBITDA rises
above 7x, potentially driven by leveraged growth or a failure to
lease up the portfolio ahead of the academic year.  S&P would also
consider lowering the rating if the company significantly increases
its development pipeline or if it encounters any operational
stumbles.

While also unlikely over the next 24 months, S&P would consider
raising the rating if EDR increases its scale meaningfully on a
leverage-neutral basis, while prudently pursuing development and
managing appropriate liquidity to finance projects.  EDR would also
need to sustain current positive operating and leasing momentum and
become less reliant on its revolving credit facility. Although
unlikely, S&P could also raise the rating if the company operated
with significantly less leverage, such that debt to EBITDA fell to
below 4.5x and FCC rose to the mid-3x area for a sustained period.



EHC LLC: Case Summary & 16 Largest Unsecured Creditors
------------------------------------------------------
Debtor: EHC, LLC
        36 W. Randolph Street
        Chicago, IL 60601

Case No.: 15-40866

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Hon. Timothy A. Barnes

Debtor's Counsel: Nikola Duric, Esq.
                  DURIC LAW OFFICES
                  810 Busse Highway
                  Park Ridge, IL 60068
                  Tel: (847) 656-5410
                  Email: duriclaw@att.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

A list of the Debtor's 16 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb15-40866.pdf


ELBIT IMAGING: Korean MFDS OKs Exablate Neuro System Treatment
--------------------------------------------------------------
Elbit Imaging Ltd. announced that it was informed by InSightec
Ltd., that the Korean Ministry of Food and Drug Safety has approved
its Exablate Neuro system to treat movement, pain and behavioral
disorders.

Insightec's Exablate Neuro platform is transforming medicine by
presenting a non-invasive treatment alternative that combines two
technologies: Focused Ultrasound, which is used to lesion the
targeted tissue deep in the brain, and Magnetic Resonance Imaging
(MRI), which is used to guide the ultrasound waves to the specific
target tissue and provide real-time feedback on treatment progress
and outcome.  The result of the above integration is a breakthrough
therapy platform that enables outpatient procedures.

This regulatory approval allows Korean patients suffering from
neurological disorders which cause significant disability access to
a new, non-invasive treatment option that does not require open
surgery.  Previous treatment options for patients who do not
respond to drugs include deep brain stimulation, radiofrequency
ablation and radiosurgery which are highly invasive and/or involve
risks such as ionizing radiation, infection, bleeding and
collateral brain tissue damage.

The Company holds approximately 89.9% of the share capital of Elbit
Medical Technologies Ltd. (TASE: EMTC-M) (on a fully diluted basis)
which, in turn, holds approximately 29.6% of the share capital in
InSightec (on a fully diluted basis).

                      About Elbit Imaging

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

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

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

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

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


ELBIT IMAGING: Reports Third Quarter Results for 2015
-----------------------------------------------------
Elbit Imaging Ltd. reported a net loss of NIS 2.35 million on NIS
31.30 million of total revenues for the three months ended Sept.
30, 2015, compared to a net loss of NIS 32.10 million on NIS 245.14
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 NIS 203 million on NIS 298.62 million of total revenues
compared to net profit of NIS 951 million on NIS 342 million of
total revenues for the same period last year.

As of Sept. 30, 2015, Elbit Imaging had NIS 2.83 billion in total
assets, NIS 2.47 billion in total liabilities and NIS 364 million
in shareholder' equity.

General and administrative expenses amounted to NIS 2 million (US$
0.6 million) in Q3 2015 compared to NIS 8 million in Q3 2014.  The
decrease was mainly attributable to the efficiency measures taken
by the Company in Q3 2015 reducing the general and administrative
costs in the Company's headquarters.

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

                     http://is.gd/NIjTau

                    About Elbit Imaging

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

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

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

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


EMERALD ISLE: Files Schedules of Assets and Liabilities
-------------------------------------------------------
Emerald Isle Partners, L.L.C. filed with the U.S. Bankruptcy Court
District of Arizona its schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $10,000,000
  B. Personal Property                   $25
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                  $423,200
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                                $0
                                 -----------      -----------
        TOTAL                    $10,000,000        $423,200


A full-text copy of the Schedules is available at:

              http://bankrupt.com/misc/azb15-15165.html

                          About Emerald Isle

Emerald Isle Partners, L.L.C. filed a Chapter 11 bankruptcy
petition (Bankr. D. Ariz. Case No. 15-15165) on Nov. 30, 2015.  The
petition was signed by Patrick J. Murphyk as authorized
representative.  The Debtor listed total assets of $10 million and
total liabilities of $423,200.  Allan D Newdelman PC represents the
Debtor as counsel.  Judge Daniel P. Collins is assigned to the
case.


EMPRESAS PLAYA: Case Summary & 16 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Empresas Playa Joyuda, Inc.
           dba Hotel Perichi's
           dba Perichi's Steak & Sea
        HC-03 Box 16310
        Cabo Rojo, PR 00623

Case No.: 15-09594

Chapter 11 Petition Date: December 1, 2015

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

Debtor's Counsel: Victor Gratacos Diaz, Esq.
                  GRATACOS LAW FIRM, P.S.C.
                  P.O. BOX 7571
                  Caguas, PR 00726
                  Tel: 787 746-4772
                  Email: bankruptcy@gratacoslaw.com

Total Assets: $939,685

Total Liabilities: $2.74 million

The petition was signed by Julio Cesar Perez Perichi, president and
treasurer.

A list of the Debtor's 16 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb15-09594.pdf


ENERGY FUTURE: Judge Approves Major Peace Deals in Plan Fight
-------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge gave Energy Future Holdings Corp. the go-ahead on
Nov. 25, 2015, for a series of settlements with bondholders and
others that knock out the major opposition to the power giant's
Chapter 11 plan and are expected to significantly smooth and
truncate the debtor's path to confirmation.

During a hearing in Wilmington, U.S. Bankruptcy Judge Christopher
S. Sontchi said that the three peace deals EFH struck with factions
that had been opposing its strategy to deal with some $42 billion
in debt were "eminently reasonable."

                About Energy Future Holdings Corp.

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

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

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

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

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

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

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

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

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

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


ESSIE JAMES: Bid to Dismiss TILA Claim Granted
----------------------------------------------
Judge S. Thomas Anderson of the United States District Court for
the Western District of Tennessee, Western Division, granted the
motion to dismiss filed by defendants Petra Finance, LLC; Clear
Springs Loan Service, Inc.; and Rubin Lublin TN, P.L.L.C. as to the
plaintiffs Essie and William James' claim for violation of
Regulation Z of the Truth in Lending Act.

Essie and William James filed a petition to enjoin a foreclosure
sale and for rescission of a loan agreement and complaint for money
damages in the Chancery Court for Shelby County, Tennessee for the
Thirtieth Judicial District at Memphis.  The complaint was removed
by the defendants to the district court because federal question
jurisdiction exists over the plaintiffs' TILA claim and
supplemental jurisdiction over the remaining claims.

Judge Anderson held that the complaint failed to state a TILA
claim, the only cause of action over which his court has original
jurisdiction.  The judge found that the TILA claim is time-barred
because the plaintiffs filed suit over the alleged TILA violation
more than three years after the statute of limitations had expired.
Thus, Judge Anderson granted the defendants' Motion to Dismiss but
only as to the TILA claim, and declined to exercise supplemental
jurisdiction over the remaining claims under Tennessee law.  The
claims were remanded back to the Shelby County Chancery Court.

The case is ESSIE JAMES and WILLIAM JAMES, Plaintiffs, v. PETRA
FINANCE, LLC; CLEAR SPRINGS LOAN SERVICES, INC.; NATIONAL HOUSING
PROTECTION AGENCY, INC.; and RUBIN LUBLIN TN, P.L.L.C., Defendants,
NO. 15-2297-STA-CGC (W.D. Tenn.).

A full-text copy of Judge Anderson's November 17, 2015 order is
available at http://is.gd/TuyNPFfrom Leagle.com.

Essie James and William James are represented by:

          Webb A. Brewer, Esq.
          BREWER & BARLOW PLC.
          1755 Kirby Parkway, Suite 110
          Memphis, TN 38120
          Tel: (901) 757-3360
          Fax: (901) 757-3361
          Email: webb@brewerbarlow.com

Petra Finance, LLC, Clear Springs Loan Services, Inc.and Rubin
Lublin TN, P.L.L.C. are represented by:

          Jody Charles Campbell, Esq.
          RUBIN LUBLIN, LLC
          3740 Davinci Court Suite 150
          Peachtree Corners, Georgia 30092
          Tel: (770) 246-3300
          Fax: (404) 601-5846
          Email: jcampbell@rubinlublin.com


EXPEDIA INC: Moody's Assigns Ba1 Rating on New Sr. Unsecured Notes
------------------------------------------------------------------
Moody's Investors Service assigned a rating of Ba1 to Expedia,
Inc.'s proposed senior unsecured note issuance.  The rating outlook
is stable.

The net proceeds from the debt issuance will be used to help fund
the proposed acquisition of HomeAway, Inc., an online marketplace
for vacation rentals, for about US $3.9 billion in cash and stock
and to provide additional domestic liquidity.

RATINGS RATIONALE

Expedia's Ba1 rating is supported by the company's leading domestic
position in the growing online travel agency market and moderate
financial leverage for the rating category of mid to high 2 times
pro forma for the acquisitions of HomeAway and Orbitz (in Sept.
2015 for $1.8 billion).  Despite the increase to leverage, the
recent acquisition activity will enhance Expedia's already strong
market position in the global online travel market.  Expedia will
likely continue to benefit from an online travel market that should
experience growth rates in excess of the broader travel industry,
especially in emerging markets.

Moody's projects improving profitability with adjusted operating
margins in the mid-teens percentage over the next year driven by
the May 2015 sale of Expedia's 62.4% majority stake in eLong, Inc.,
a leading OTC in China, whose losses weighed on Expedia's
profitability.  In addition, Expedia will likely achieve sizable
cost synergies from the purchase from Orbitz and HomeAway, while
increasing operating leverage from past technology and selling and
marketing spend.  These benefits will be partly offset by
continuing investments in other international markets and mobile
offerings.

Expedia operates in a highly competitive market with exposure to
ongoing competition from supplier-owned and other third party
online travel sites.  This raises the potential for continued
acquisition activity within a rapidly evolving online travel
industry.  The possibility also exists that Expedia could choose to
buy back Liberty's ownership stake of about 18%.  In addition,
there is concentrated voting control by Barry Diller (about 60% of
the stock), which enables him to influence the company's corporate
actions (e.g., acquisitions, business combinations, share
repurchases, etc.), which could adversely affect bondholders'
interests.  While event risk remains a key rating factor, Moody's
believes that improving profits and cash flow going forward will
lead to enhanced liquidity over the next several years.  This will
likely enable Expedia to absorb some level of heightened share
buybacks or acquisition activity.

The stable outlook reflects Moody's expectation of double digit
annual revenue growth in constant currency, free cash flow (after
dividend payments) of about $1 billion in 2016, and financial
leverage below 3 times (adjusted debt to EBITDA).

The ratings could be upgraded if Expedia maintains its leading
market share among third party, hotelier, and airline online travel
websites, continues to generate profitable organic revenue growth
with steady operating margins in excess of 20%, and Moody's expects
the company to adhere to conservative financial policies, including
adjusted leverage of about 2 times on a sustained basis. The
ratings could be lowered if Expedia's competitive position weakens
materially (e.g., revenue declines of 5% and operating margins
below 10%), or financial leverage as measured by debt to EBITDA
adjusted for leases increases over 3.5x for an extended period of
time.

Rating assigned:

  Senior unsecured notes at Ba1 (LGD 4)

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

Expedia, Inc., with projected annual revenues nearing $7 billion,
is a leading online travel agency (OTA) with properties which
include Expedia.com, Hotwire.com, Hotels.com, Egencia, trivago,
Travelocity, and Orbitz.



FOREST PARK MEDICAL: Dallas, Fort Worth Hospitals in Ch 11 Bankr.
-----------------------------------------------------------------
Forest Park Medical Center's hospitals in Dallas and Fort Worth
filed for Chapter 11 bankruptcy protection on Nov. 30, 2015, Bill
Hethcock at Dallas Business Journal reports.

The borrower under the Forest Park - Dallas mortgage loan and the
borrower under the Forest Park - Fort Worth construction loan each
filed a petition for relief under Chapter 11 of the U.S. Bankruptcy
Code in the Northern District of Texas.  The Borrowers are the
owners of the real estate of the respective facilities and lease
the facilities to physician-owned entities operating under the
Forest Park name.  

Max B. Baker at Star-Telegram reports that FPMC Fort Worth Realty
Partners LP, which holds the construction loan on the hospital in
Fort Worth's southwest side, filed the Chapter 11 petition.  The
bankruptcy is not expected to affect operations at the hospital,
the report states, citing Jim Davis, CEO of Forest Park Medical
Center Fort Worth.

According to Business Journal, Todd Furniss, CEO of Neal Richards
Group, the developer of the Dallas-based hospital system's
facilities, said that the two hospitals were slated for foreclosure
auction on Dec. 1, 2015.  Due to the bankruptcy filing, the auction
will not take place, the report states, citing Mr. Furniss, who is
also chairman of the Forest Park system's management company.

Sabra Health Care REIT, Inc., said, "We expect the Borrowers'
bankruptcy petitions to result in a competitive sales process of
the Borrowers' assets where we would have the ability to credit bid
up to the level of our investments.  If the bankruptcy process does
not result in a timely sale of either asset to a suitable buyer, we
expect to request the Bankruptcy Court to lift the automatic stay
to allow a foreclosure sale under the appropriate deed of trust to
take place."

While bankruptcy is sometimes a "delaying tactic," the Borrowers in
this case actually have "real buyers" interested in acquiring the
properties, Star-Telegram relates, citing officials at Sabra Texas
Holdings, part of the Sabra Health Care REIT.  Court documents say
that Sabra Texas posted the hospital for sale in November after
Forest Park Fort Worth missed an interest payment on a $66.8
million construction loan.

According to the Fort Worth filing, the hospital's assets are
between $100 million and $500 million, while liabilities are
between $50 million and $100 million.  The Dallas hospital
estimated in its filing that its assets are between $50 million and
$100 million, and that its liabilities are between $100 million and
$500 million.

                       About Sabra Health

Sabra Health Care REIT, Inc., a Maryland corporation, operates as a
self-administered, self-managed real estate investment trust that,
through its subsidiaries, owns and invests in real estate serving
the healthcare industry.  Sabra Health leases properties to tenants
and operators throughout the United States and Canada.

                    About Forest Park Medical

Forest Park Medical Center at Frisco, LLC filed Chapter 11
bankruptcy petition (Bankr. E.D. Tex. Case No. 15-41684) on
Sept. 22, 2015.  The petition was signed by Michael Miller, the
CRO.  The Debtor estimated assets and liabilities in the range of
$10 million to $50 million.

The Debtor is a doctor-owned Texas limited liability company that
owns and operates a 54-bed state-of-the-art medical facility,
including 30 private rooms, 14 family suites, and 10 intensive care
rooms in Frisco, Texas.

Hon. Brenda T. Rhoades is assigned to the case.

Lewis Brisbois Bisgaard & Smith LLP serves as counsel to the
Debtor.


FRESH PRODUCE: Taps Hein & Associates to Prepare Tax Returns
------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado authorized
Fresh Produce Holdings, LLC, et al., to employ Hein & Associates
LLP as accountants for Debtors.

The Debtors related that they have not filed their 2014 or 2015
federal, state, and local income and franchise tax returns.
Accordingly, Hein will (i) prepare the Debtors' income tax returns
for 2014-2016; and (ii) advise the Debtors on other income tax
matters as to which the Debtors specifically request advice.

Hein will charge the Debtors a flat fee of $20,000 per tax year,
plus $5,000 for the stub year of 2016, with total estimated fees of
$45,000.  Additionally, the Debtors will reimburse Hein for its
out-of-pocket expenses incurred in connection with the engagement.

To the best of the knowledge of the Debtors, Hein is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

The Debtors are represented by:

         Michael J. Pankow, Esq
         Joshua M. Hantman, Esq.
         Rafael R. Garcia-Salgado, Esq.
         BROWNSTEIN HYATT FARBER SCHRECK, LLP
         410 17th Street, Suite 2200
         Denver, CO 80202
         Tel: (303) 223-1100
         Fax: (303) 223-1111
         E-mails: mpankow@bhfs.com
                  jhantman@bhfs.com
                  rgarcia@bhfs.com

               About Fresh Produce Holdings

Headquartered in Boulder, Colorado Fresh Produce --
http://www.freshproduceclothes.com/-- designed, developed and  
marketed women's apparel and accessories.  Its products were
available in 26 company-owned boutiques located across the United
States, as well as 400 independent retail locations.

Fresh Produce Holdings, LLC, and five separate entities filed
Chapter 11 petitions (Bankr. D. Col. Lead Case No. 15-13485) in
Denver, on April 4, 2015.  Fresh Produce disclosed $15,657,041 in
assets and $13,320,303 in liabilities as of the Chapter 11 filing.

Subsidiaries earlier commenced bankruptcy cases on April 2, 2015:
FP Brogan-Sanibel Island, LLC (Case No. 15-13420), Fresh Produce
Coconut Point, LLC (Case No. 15-13421), Fresh Produce of
St. Armands, LLC (Case No. 15-13417), Fresh Produce Retail, LLC
(15-13415), and Fresh Produce Sportswear, LLC (15-13416).

The Debtors tapped Michael J. Pankow, Esq., at Brownstein Hyatt
Farber Schreck, in Denver, as counsel.

Following an auction on May 9, 2015, Blue Stripe LLC emerged as the
winning bidder for most of the Debtors' assets, with its $7,093,000
offer, beating stalking horse bidder Yellen Partners, which made an
opening bid of $5,600,000.  The Court approved the sale on May 12,
and the sale closed May 15.

Bonnie Glantz Fatell was appointed as privacy ombudsman to review
the sale of customer data to Blue Stripe.  In her report, the
ombudsman recommended approval of the sale of customer data.  The
Court approved the sale of customer data to Blue Stripe on May 22,
2015.

With respect to the store leases, on May 15, 2015, the Debtors
filed motions to assume and assign 16 store leases to Blue Stripe
and a motion to approve store closing sales at the remaining store
locations.

The Court set a July 27, 2015 bar date for filing proofs of claim.

Under the Joint Liquidating Chapter 11 Plan of Reorganization dated
July 31, 2015, holders of priority non-tax claims (Class 1) and
holders of secured claims (Class 2) are unimpaired, and thus will
have a 100% recovery.  Holders of general unsecured claims (Class
3) will receive its pro rata share of cash held by the estates
after payment of administrative claims and secured claims.
Unsecured creditors are estimated to have a 15 percent to 25
percent recovery.  All equity interests (Class 4) will be
canceled, and holders of these interests will not receive anything
under the plan.

The Official Committee of Unsecured Creditors tapped Cooley LLP as
counsel.


FUWEI FILMS: Receives Nasdaq Listing Non-Compliance Notice
----------------------------------------------------------
Fuwei Films (Holdings) Co., Ltd., a manufacturer and distributor of
high-quality BOPET plastic films in China, on Dec. 1 disclosed that
on November 25, 2015, it received a Nasdaq Staff Deficiency Letter
indicating that the Company is not in compliance with the minimum
bid price requirement for continued listing set forth in Listing
Rule 5550(a)(2) which requires listed securities to maintain a
minimum bid price of $1.00 per share.

Fuwei Films' management is looking into various options available
to the Company in order to regain compliance and ensure its
continued listing on the Nasdaq.  The Company intends to actively
monitor the bid price for its ordinary shares between now and the
end of the grace period.

According to the letter from the Nasdaq, Fuwei Films has been given
a grace period of 180 calendar days, starting November 25, 2015, to
regain compliance with the minimum bid price requirement.  Fuwei
Films can regain compliance if, at any time before the grace period
ends, the bid price of its ordinary shares closes at or above $1.00
per share for a minimum of ten consecutive business days.  If Fuwei
Films cannot demonstrate compliance by the end of the grace period,
the Nasdaq's staff will notify the Company that its ordinary shares
is subject to delisting.  Fuwei Films may then be eligible for an
additional 180 day grace period if the Company meets the Nasdaq
Capital Market's initial listing standards with the exception of
the minimum bid price requirement.

During the grace period (as may be extended) Fuwei Films' ordinary
shares will continue to trade on the Nasdaq Capital Market under
the symbol "FFHL".  

                        About Fuwei Films

Fuwei Films conducts its business through its wholly owned
subsidiary, Fuwei Films (Shandong) Co., Ltd. ("Shandong Fuwei").
Shandong Fuwei develops, manufactures and distributes high-quality
plastic films using the biaxial oriented stretch technique,
otherwise known as BOPET film (biaxially oriented polyethylene
terephthalate).  Fuwei's BOPET film is widely used to package food,
medicine, cosmetics, tobacco, and alcohol, as well as in the
imaging, electronics, and magnetic products industries.


GARLOCK SEALING: Files More Omnibus Objections to Asbestos Claims
-----------------------------------------------------------------
Pursuant to Section 502 of the Bankruptcy Code, Federal Rules of
Bankruptcy Procedure 3007 and 3018, and the April 10, 2015 Order
Approving Disclosure Statement and Establishing Asbestos Claims Bar
Date and Procedures for Solicitation, Garlock Sealing Technologies
LLC;, et al., filed further omnibus objections, to object to the
temporary allowance for voting purposes of certain Class 4 claims
filed by various firms, including:

   * Law Offices of Paul A. Weykamp;
   * MichieHamlett Law Firm;
   * Bevan & Associates LPA, Inc.;
   * Brookman, Rosenberg, Brown & Sandler;
   * Edward O. Moody, P.A.;
   * Brayton Purcell, LLP; and
   * Motley Rice, LLC

Garland S. Cassada, Esq., at Robinson Bradshaw & Hinson, P.A.,
tells the Court that the Subject Claims do not meet the
Solicitation Order's requirements for temporary allowance because
they were settled and paid prepetition, were dismissed with
prejudice, are time-barred, or were resolved by final judgment
prepetition.  According to Mr. Cassada, the Subject Claims
constitute a portion of claims filed by the Filing Firms and
identified by Debtors as not meeting these requirements.

Copies of the Debtors' Omnibus Claims Objections, which include
lists of the claimants subject to the objections, are available
at:

     http://bankrupt.com/misc/Garlock_S_4988_60th_Om_Obj.pdf
     http://bankrupt.com/misc/Garlock_S_4989_61st_Om_Obj.pdf
     http://bankrupt.com/misc/Garlock_S_4990_62nd_Om_Obj.pdf
     http://bankrupt.com/misc/Garlock_S_4991_63rd_Om_Obj.pdf
     http://bankrupt.com/misc/Garlock_S_4992_64th_Om_Obj.pdf
     http://bankrupt.com/misc/Garlock_S_4996_67th_Om_Obj.pdf
     http://bankrupt.com/misc/Garlock_S_5015_85th_Om_Obj.pdf

Special Corporate and Litigation Counsel to the Debtors:

         Garland S. Cassada, Esq.
         Jonathan C. Krisko, Esq.
         Richard C. Worf, Jr., Esq.
         ROBINSON BRADSHAW & HINSON, P.A.
         101 North Tryon Street, Suite 1900
         Charlotte, North Carolina 28246
         Telephone: (704) 377-2536
         Facsimile: (704) 378-4000
         E-mail: gcassada@rbh.com
                 jkrisko@rbh.com
                 rworf@rbh.com

                       About Garlock Sealing

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

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

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

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

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

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

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

In January 2015, the Debtors filed their Second Amended Plan of
Reorganization, which is backed by the Future Asbestos Claimants'
Representative (FCR).  The confirmation hearing is slated to begin
June 20, 2016.

Under the schedule for confirmation proceedings ordered by the
Court, objections to confirmation of the Plan that do not depend
on
the results of voting were due Oct. 6, 2015, and confirmation
objections that depend on such results are due on Dec. 18, 2015.



GCC-CHASE LLC: Case Summary & 18 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: GCC-Chase, LLC
        3008 Rosewater Lane
        Indian Trail, NC 28079-3713

Case No.: 15-31901

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: Hon. Craig J. Whitley

Debtor's Counsel: Richard S. Wright, Esq.
                  MOON WRIGHT & HOUSTON, PLLC
                  227 W. Trade Street, Suite 1800
                  Charlotte, NC 28202
                  Tel: (704) 944-6564
                  Fax: (704) 944-0380
                  Email: rwright@mwhattorneys.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 milion to $10 million

The petition was signed by George W. Courlas, manager.

A list of the Debtor's 18 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ncwb15-31901.pdf


GCC-COURTYARD: Case Summary & 15 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: GCC-Courtyard, LLC
        3008 Rosewater Lane
        Indian Trail, NC 28079-3713

Case No.: 15-31902

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: Hon. Craig Whitley

Debtor's Counsel: Richard S. Wright, Esq.
                  MOON WRIGHT & HOUSTON, PLLC
                  227 W. Trade Street, Suite 1800
                  Charlotte, NC 28202
                  Tel: (704) 944-6564
                  Fax: (704) 944-0380
                  Email: rwright@mwhattorneys.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by George W. Courlas, manager.

A list of the Debtor's 15 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ncwb15-31902.pdf


GCC-LANDINGS: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: GCC-Landings, LLC
        3008 Rosewater Lane
        Indian Trail, NC 28079-3713

Case No.: 15-31903

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: Hon. Laura T. Beyer

Debtor's Counsel: Richard S. Wright, Esq.
                  MOON WRIGHT & HOUSTON, PLLC
                  227 W. Trade Street, Suite 1800
                  Charlotte, NC 28202
                  Tel: (704) 944-6564
                  Fax: (704) 944-0380
                  Email: rwright@mwhattorneys.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by George W. Courlas, manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ncwb15-31903.pdf


GCC-SHARONRIDGE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: GCC-Sharonridge, LLC
        3008 Rosewater Lane
        Indian Trail, NC 28079-3713

Case No.: 15-31904

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       Western District of North Carolina (Charlotte)

Judge: Hon. Laura T. Beyer

Debtor's Counsel: Richard S. Wright, Esq.
                  MOON WRIGHT & HOUSTON, PLLC
                  227 W. Trade Street, Suite 1800
                  Charlotte, NC 28202
                  Tel: (704) 944-6564
                  Fax: (704) 944-0380
                  Email: rwright@mwhattorneys.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by George W. Courlas, manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ncwb15-31904.pdf


GO YE VILLAGE: Files Schedules of Assets and Liabilities
--------------------------------------------------------
Go Ye Village, Inc., filed with the U.S. Bankruptcy court for the
Eastern District of Oklahoma its schedules of assets and
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property               $23,545,000
  B. Personal Property              $935,955
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $12,256,081
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-priority
     Claims                                       $23,930,568
                                 -----------      -----------
        TOTAL                    $24,480,955      $36,186,649

A full-text copy of the Schedules is available for free at:

           http://bankrupt.com/misc/okeb15-81287.pdf

                        About Go Ye Village

Go Ye Village, Inc. filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Okla Case No. 15-81287) on Nov. 30, 2015.  The petition was
signed by Maurice D. Turney as president.  The Debtor disclosed
total assets of $24.48 million and total debts of $36.18 million.
Doerner, Saunders, Daniel & Anderson, LLP serves as the Debtor's
counsel.  Judge Tom R. Cornish is assigned to the case.


GO YE VILLAGE: Hires Doerner Saunders as Counsel
------------------------------------------------
Go Ye Village, Inc., seeks permission from the Bankruptcy Court to
employ Doerner, Saunders, Daniel & Anderson, L.L.P., as its
counsel.

The principal attorneys representing Debtor are expected to be Sam
G. Bratton, whose standard hourly rate is currently $375; David H.
Herrold, whose standard hourly rate is $350; and Patrick Mensching,
whose standard hourly rate is currently $285.  In addition, Doerner
may utilize the services of other attorneys or paralegals as the
need arises.

On Nov. 12, 2015, Doerner was paid $8,371 for fees and on
Nov. 30, 2015, Doerner was paid $20,344 for fees and $95 for
reimbursement of expenses by Debtor for services rendered prior to
commencement of this bankruptcy case.  Doerner also received a
retainer of $20,000 from the Debtor plus $1,717 for filing fees.
Doerner will hold the retainer in its trust account pending
authorization from the Court as to the use or disposition thereof.

Doerner will apply for allowance of its professional fees and
reimbursement of its out-of-pocket expenses to be paid by the
Estate pursuant to 11 Sections 330 and 331 of the Bankruptcy Code.

The Debtor believes that Doerner does not hold an adverse interest
or represent any other entity having an adverse interest in
connection with the case.

                     About Go Ye Village

Go Ye Village, Inc. filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Okla Case No. 15-81287) on Nov. 30, 2015.  The petition was
signed by Maurice D. Turney as president.  The Debtor disclosed
total assets of $24.48 million and total debts of $36.18 million.
Doerner, Saunders, Daniel & Anderson, LLP serves as the Debtor's
counsel.  Judge Tom R. Cornish is assigned to the case.


GO YE VILLAGE: Restricting Access to Employee Information
---------------------------------------------------------
Go Ye Village, Inc., sought and obtained approval from the
Bankruptcy Court to restrict access to personally identifiable
information originally included in the Emergency Motion for Order
Authorizing Payment of Pre-Petition Wages.  

The Court finds that the Emergency Motion contains certain personal
identifiers that should have been redacted under Fed. R. Bankr. P.
9037.

Specifically, the Unredacted Document contains as Exhibit "A" a
listing of Debtor's employees which inadvertently includes the
employee's social security numbers.

                      About Go Ye Village

Go Ye Village, Inc. filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Okla Case No. 15-81287) on Nov. 30, 2015.  The petition was
signed by Maurice D. Turney as president.  The Debtor disclosed
total assets of $24.48 million and total debts of $36.18 million.
Doerner, Saunders, Daniel & Anderson, LLP serves as the Debtor's
counsel.  Judge Tom R. Cornish is assigned to the case.


GREENSBORO LLC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Greensboro, LLC
        6830 S. Rainbow, #200-F
        Las Vegas, NV 89118

Case No.: 15-16711

Nature of Business: Real Estate Management

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       District of Nevada (Las Vegas)

Judge: Hon. Laurel E. Davis

Debtor's Counsel: David Mincin, Esq.
                  MINCIN LAW, PLLC
                  528 S. Casino Center, #325
                  Las Vegas, NV 89101
                  Tel: (702) 589-9881
                  Fax: (702) 589 9882
                  Email: dmincin@lawlasvegas.com

Total Assets: $0

Total Liabilities: $2.16 million

The petition was signed by Alireza Kaveh, manager.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/nvb15-16711.pdf


GRM BAY WASH: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                    Case No.
     ------                                    --------
     GRM Bay Wash, LLC                         15-26725
     10401 Rhode Island Avenue
     Beltsville, MD 20705

     GRM Bay Wash of DelMarva, LLC             15-26727
     10401 Rhode Island Avenue
     Beltsville, MD 20705

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       District of Maryland (Greenbelt)

Debtors' Counsel: John Douglas Burns, Esq.
                  THE BURNS LAWFIRM, LLC
                  6303 Ivy Lane, Ste. 102
                  Greenbelt, MD 20770
                  Tel: (301) 441-8780
                  Email: ecf@burnsbankruptcyfirm.com

                                      Estimated    Estimated
                                        Assets    Liabilities
                                     ----------   -----------
GRM Bay Wash                         $1MM-$10MM   $1MM-$10MM
GRM Bay Wash of DelMarva             $0-$50K      $500K-$1MM

The petition was signed by Gary R Middleton, managing member.

A list of GRM Bay Wash 's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/mdb15-26725.pdf

A list of GRM Bay Wash of DelMarva's seven largest unsecured
creditors is available for free at:

           http://bankrupt.com/misc/mdb15-26727.pdf


HMK MATTRESS: Moody's Puts 'B3' CFR Under Review for Upgrade
------------------------------------------------------------
Moody's Investors Service placed the B3 Corporate Family Rating and
B3-PD Probability of Default Rating of HMK Mattress Holdings LLC
("Sleepy's") under review for upgrade following the company's Nov.
30 announcement that it had signed a definitive agreement to be
acquired by Mattress Holding Corp. ("Mattress Firm", B1 Stable) for
$780 million.  Moody's also placed Sleepy's term loan under review
for upgrade.

These ratings of HMK Mattress Holdings, LLC were placed on review
for upgrade:

   -- Corporate Family Rating at B3
   -- Probability of Default Rating at B3-PD
   -- Outlook, changed to Rating under Review from Stable

These ratings of HMK Intermediate Holdings, LLC were placed on
review for upgrade:

   -- $170 million senior secured term loan due 2018 at B2 (LGD 3)

RATINGS RATIONALE

The review for upgrade reflects expectations that the acquisition
by Mattress Firm will improve Sleepy's credit profile, as the debt
will be repaid or assumed by Mattress Firm.

The transaction, which is expected to close in the first half of
2016, is subject to customary closing conditions and regulations.
The review will focus on the likely closing of the transaction. The
ratings for Sleepy's will be withdrawn at the close of the
transaction, once the debt is repaid in full.

HMK Mattress Holdings, LLC ("Sleepy's"), headquartered in
Hicksville, NY, is a specialty mattress retailer, operating
approximately 1,066 locations predominantly in the Northeast and
Mid-Atlantic of the United States.  Store banners include Sleepy's
and Mattress Discounters.  It also delivers mattresses through its
websites including sleepys.com, 1800mattress.com and mattress.com.
The company provides wholesale fulfillment services for amazon.com
and sears.com and sells wholesale to hotels and colleges.  Revenues
are approximately $1 billion.  Sleepy's is family- and management-
owned, and private equity firm Calera Capital has a minority stake
in the company.

The principal methodology used in these ratings was Retail Industry
published in October 2015.



HUNTER HOSPITALITY: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Hunter Hospitality LLC
        PO Box 31548
        Bellingham, WA 98228

Case No.: 15-17090

Chapter 11 Petition Date: December 1, 2015

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

Judge: Hon. Marc Barreca

Debtor's Counsel: James L Day, Esq.
                  BUSH STROUT & KORNFELD LLP
                  601 Union St Ste 5000
                  Seattle, WA 98101
                  Tel: 206-292-2110
                  Email: jday@bskd.com

Total Assets: $1.64 million

Total Liabilities: $24.38 million

The petition was signed by David Ebenal, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/wawb15-17090.pdf


IMH FINANCIAL: Maturity of SRE Loan Extended to Jan. 2016
---------------------------------------------------------
IMH Financial Corporation and SRE Monarch Lending, LLC entered into
a Fourth Amendment to Loan Agreement extending the maturity date of
the Company's loan from SRE Monarch Lending from Nov. 23, 2015, to
Jan. 22, 2016.  SRE Monarch Lending is a related party of Seth
Singerman, one of the Company's directors.  The Company paid a fee
of $66,667 to SRE Monarch Lending in connection with this
extension.

The Fourth Amendment provides the Company with two additional
options to extend the maturity date of the SRE Loan.  The first
option allows the Company to extend the SRE Loan for one month from
Jan. 22, 2016, to Feb. 22, 2016, in exchange for an extension fee
payable to SRE Monarch Lending in the amount of $33,333.  The
second option allows the Company to extend the maturity date of the
SRE Loan for one additional month to March 23, 2016, in exchange
for an extension fee payable to SRE Monarch Lending in the amount
of $33,333.

                         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.


INTEGRATED BIOPHARMA: Shareholders Elect 3 Directors
----------------------------------------------------
Integrated Biopharma, Inc., held its 2015 annual meeting of
shareholders on Nov. 30, 2015, at which the Shareholders elected
Gerald Kay, Riva Sheppard and Carl DeSantis as Class I directors to
serve until the 2018 Annual Meeting of Stockholders.  The
Shareholders also voted in favor of ratifying the appointment of
Friedman, LLP as the Company's independent auditors for the fiscal
year ending June 30, 2016.

                    About Integrated BioPharma

Based in Hillside, N.J., Integrated BioPharma, Inc. (INBP.OB) --
-- http://www.healthproductscorp.us/-- is engaged primarily in
manufacturing, distributing, marketing and sales of vitamins,
nutritional supplements and herbal products.  The Company's
customers are located primarily in the United States.  The Company
was previously known as Integrated Health Technologies, Inc., and,
prior to that, as Chem International, Inc.  The Company was
reincorporated in its current form in Delaware in 1995.  The
Company continues to do business as Chem International, Inc., with
certain of its customers and certain vendors.

Integrated Biopharma reported net income of $735,000 on $37.5
million of net sales for the year ended June 30, 2015, compared to
net income of $131,000 on $33.7 million of net sales for the year
ended June 30, 2014.

As of Sept. 30, 2015, the Company had $12.1 million in total
assets, $21.1 million in total liabilities and a $9.06 million
total stockholders' deficiency.


ISOLA USA: S&P Withdraws 'CCC+' Corporate Credit Rating
-------------------------------------------------------
Standard & Poor's Ratings Services said that it withdrew its 'CCC+'
corporate credit rating on Chandler, Ariz.-based Isola USA Corp. at
the issuer's request.  S&P also withdrew its issue-level ratings on
Isola's senior term loan.


KINDER MORGAN: Moody's Affirms 'Ba2' Preferred Stock Rating
-----------------------------------------------------------
Moody's Investors Service changed Kinder Morgan Inc.'s (KMI)
outlook to negative from stable.  Moody's affirmed KMI's Baa3
senior unsecured and Prime-3 commercial paper ratings.

On Nov. 30, KMI announced an agreement to increase its ownership in
Natural Gas Pipeline Company of America LLC (NGPL, Caa2 negative)
to 50% from 20% for approximately $136 million. Brookfield
Infrastructure Partners L.P. (BI, unrated) will own the remaining
50%. Proportionate consolidation of NGPL's debt will add about $1.5
billion to KMI's consolidated debt.  NGPL's trailing twelve month
Sept. 30, 2015, EBITDA was $273 million (gross).

"The negative outlook reflects Kinder Morgan's increased business
risk profile and additional pressure on its already high leverage
that will result from its agreement to increase ownership in NGPL,
a distressed company," said Terry Marshall, Moody's Senior
Vice-President.  "NGPL is facing potential default on its pending
interest payments, suggesting that KMI will need to provide cash
injections, which will likely be debt funded initially."

Outlook Actions:

Issuer: Colorado Interstate Gas Company
  Outlook, Changed To Negative From Stable

Issuer: Copano Energy, LLC
  Outlook, Changed To Negative From Stable

Issuer: El Paso CGP Company
  Outlook, Changed To Negative From Stable

Issuer: El Paso Energy Capital Trust I
  Outlook, Changed To Negative From Stable

Issuer: El Paso Natural Gas Company
  Outlook, Changed To Negative From Stable

Issuer: El Paso Pipeline Partners Operating Company
  Outlook, Changed To Negative From Stable

Issuer: El Paso Tennessee Pipeline Co.
  Outlook, Changed To Negative From Stable

Issuer: Hiland Partners, LP
  Outlook, Changed To Negative From Stable

Issuer: K N Capital Trust I
  Outlook, Changed To Negative From Stable

Issuer: K N Capital Trust III
  Outlook, Changed To Negative From Stable

Issuer: Kinder Morgan Energy Partners, L.P.
  Outlook, Changed To Negative From Stable

Issuer: Kinder Morgan Finance Company, LLC
  Outlook, Changed To Negative From Stable

Issuer: Kinder Morgan G.P., Inc.
  Outlook, Changed To Negative From Stable

Issuer: Kinder Morgan Inc.
  Outlook, Changed To Negative From Stable

Issuer: Southern Natural Gas Company
  Outlook, Changed To Negative From Stable

Issuer: Tennessee Gas Pipeline Company
  Outlook, Changed To Negative From Stable

Affirmations:

Issuer: Colorado Interstate Gas Company
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: Copano Energy, LLC
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: El Paso CGP Company
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: El Paso Energy Capital Trust I
  Pref. Stock Preferred Stock, Affirmed Ba1

Issuer: El Paso Holdco LLC
  Subordinate Conv./Exch. Bond/Debenture, Affirmed Ba1
  Senior Unsecured Regular Bond/Debenture , Affirmed Baa3

Issuer: El Paso Natural Gas Company
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: El Paso Pipeline Partners Operating Company
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: El Paso Tennessee Pipeline Co.
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: Hiland Partners, LP
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: K N Capital Trust I
  Pref. Stock Preferred Stock, Affirmed Ba1

Issuer: K N Capital Trust III
  Pref. Stock Preferred Stock, Affirmed Ba1

Issuer: Kinder Morgan Energy Partners, L.P.
  Multiple Seniority Shelf, Affirmed (P)Baa3
  Multiple Seniority Shelf, Affirmed (P)Ba1
  Multiple Seniority Shelf, Affirmed (P)Baa3
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: Kinder Morgan Finance Company, LLC
  Senior Secured Regular Bond/Debenture, Affirmed Baa3

Issuer: Kinder Morgan G.P., Inc.
  Pref. Stock Preferred Stock, Affirmed Ba2

Issuer: Kinder Morgan Inc.
  Multiple Seniority Shelf (Local Currency) Nov 20, 2017, Affirmed

   (P)Baa3
  Senior Unsecured Commercial Paper, Affirmed P-3
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: Kinder Morgan Kansas Inc.
  Junior Subordinated Regular Bond/Debenture, Affirmed Ba1
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: Sonat Inc.
  Senior Secured Regular Bond/Debenture, Affirmed Baa3

Issuer: Southern Natural Gas Company
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

Issuer: Tennessee Gas Pipeline Company
  Senior Unsecured Regular Bond/Debenture, Affirmed Baa3

RATINGS RATIONALE

NGPL's capital structure is untenable, with debt to EBITDA
currently above 10x and insufficient liquidity to fully fund
pending interest payments and term loan amortization totaling $115
million (gross).  Moody's expects that KMI is likely to initially
debt fund its share of the needed support, and will need to provide
additional support as part of any restructuring of NGPL's capital
structure and its approximate $3 billion of debt. Proportionate
consolidation of NGPL along with Moody's standard adjustments will
increase KMI's leverage to around 5.9x on a
Dec. 31, 2015, pro forma basis.

KMI's Baa3 rating reflects its significant scale, high quality
assets, and fee-based cash flows, tempered by its high leverage and
payout of approximately 90% of internally generated cash flow to
shareholders.  Moody's forecasted debt to EBITDA for KMI of around
5.9x (6x on a proportionate consolidation basis) in mid-2016 is
high for an investment grade company.  (Moody's calculation of
adjusted debt to EBITDA increases Kinder Morgan's measurement of
net debt to EBITDA by about 0.2x. Adding the proportionate
consolidation of NGPL and Moody's other adjustments increases KMI's
measurement by about 0.3x).  KMI's year-end leverage focus means
leverage (including Moody's standard adjustments) may be above 5.8x
for much of the year, and KMI crucially relies on ongoing equity
and debt capital markets access to meet that target.  Currently
weak capital markets have increased the cost of access.  KMI
benefits from relatively stable cash flow generated by a
combination of long term contracts and regulated returns from
energy infrastructure assets.  Moody's estimates that about 10% of
the company's operating cash flow is subject to short-term market
volatility, primarily related to oil production tied to the CO2
business segment, which Moody's expects to remain weak through 2016
due to low commodity prices.

Moody's expects leverage to remain high throughout 2016 as the
company plans to distribute most of its roughly $5 billion of
operating cash flow to shareholders.  KMI is reliant on both equity
and debt markets to fund growth capital expenditures, which will
likely exceed $4 billion next year, which in turn supports the
company's distributable cash flow growth expectations of 6% to10%.
Master Limited Partnerships (MLPs) and MLP-like companies such as
KMI require high growth to satisfy their shareholder bases and
maintain strong stock valuations.  As shareholder value weakens,
due to lower anticipated growth and general contagion from weak oil
and natural gas markets, the cost of equity (and debt) increases,
making it more difficult for affected companies to raise the equity
needed to keep their leverage within acceptable levels for their
rating.

As part of the Nov. 2014 re-organization of KMI, a cross-guarantee
was executed by most of its domestic, wholly-owned subsidiaries,
leading to the Baa3 rating for all of the included entities.  Four
rated entities are not part of the cross-guarantee group.  Three of
these entities have issued preferred stock that is rated Ba1: El
Paso Energy Capital Trust I, KN Capital Trust I, and KN Capital
Trust III.  The sole asset of each is subordinated debt of KMI,
which was funded by the rated preferred stock, which is the
principal liability of each entity.  The preferred stock issued by
these entities is rated one notch lower than KMI at Ba1, reflecting
the credit quality of the subordinated payment obligation of KMI
that supports the preferreds.  The fourth non-cross guaranteed
entity is Kinder Morgan GP Inc., which issued preferred stock that
is rated Ba2.  This entity has ownership interests that generate
about $100 million of annual distributable cash flow and the
preferreds have a preferential right to dividends over KMI's common
shareholder.  The preferreds are rated two notches below KMI's
senior unsecured rating at Ba2.

KMI's liquidity is adequate.  Through the third quarter of 2016
Moody's expects the company will have nearly $11 billion of cash
from operations and liquidity resources to fund about the same
amount of dividends, capital expenditures and debt maturities.  The
company will have about $5 billion of cash from operations,
together with pro-forma cash of $1.7 billion and an essentially
unused credit facility of $4 billion (expires 2019).  Moody's
expects dividends in the mid-$4 billion range, capital expenditures
around $4.5 billion, and debt maturities in the fourth quarter of
2015 and first quarter of 2016 totaling $2.4 billion.  Moody's also
expects KMI to be in compliance with its sole financial covenant
(consolidated total debt to consolidated EBITDA not greater than
6.5x).

The negative outlook could be restored to stable if KMI appears
likely to have consistent Moody's adjusted debt to EBITDA of 5.8x
or below.

The ratings could be downgraded if it appears that Moody's adjusted
debt to EBITDA will not be consistently 5.8x or below, distribution
coverage appears likely to fall below 1x, business risk increases
or if the company undertakes an acquisition that increases leverage
or does other debt financed activities where the company is highly
reliant on equity markets to bring down leverage.  The rating could
be upgraded if Moody's adjusted debt to EBITDA appears to be
sustainable below 5.0x.

Kinder Morgan Inc. is the largest midstream energy company in the
North America.  Kinder Morgan Inc. operates product pipelines,
natural gas pipelines, liquids and bulk terminals, and CO2, oil,
and natural gas production and transportation assets.  The company
is headquartered in Houston, Texas.

The principal methodology used in these ratings was Global
Midstream Energy published in Dec. 2010.



KRATON PERFORMANCE: Moody's Cuts CFR to B1 on Arizona Chemical Deal
-------------------------------------------------------------------
Moody's Investors Service downgraded Kraton Performance Polymers,
Inc.'s Corporate Family Rating to B1 from Ba3, assigned ratings to
its new term loan and notes, and revised its outlook to stable.
These actions conclude the review that was initiated on Sept. 29,
2015 subsequent to the announcement of the acquisition of Arizona
Chemical Holding Corporation.  Kraton's new $1.350 billion senior
secured first lien term loan is rated Ba3 and its new $425 million
senior unsecured notes are rated B3.  Proceeds from the new term
loan and notes will be used to fund the acquisition of Arizona for
a purchase price of $1.37 billion, refinance existing debt, and for
fees and expenses.  Kraton also put in place a $250 million ABL
revolver due 2020 to support working capital, it is unrated.  The
downgrade reflects Moody's expectations that Kraton's leverage will
remain elevated for the next 12-15 months until the cost cutting
programs and synergies begin to positively impact free cash flows
and Kraton is able to repay debt.  The acquisition is expected to
close at the end of 2015, or early in 2016.

Ratings downgraded:

Kraton Performance Polymers, Inc.
  Corporate Family Rating -- B1 from Ba3
  Probability of Default Rating -- B1-PD from Ba3-PD

Ratings assigned:

Kraton Polymers LLC.
  $1,350 mm Sr. Sec. 1st Lien Term Loan due 2021 -- Ba3 (LGD3)
  $425 mm Sr. Unsecured Notes due 2023 -- B3 (LGD5)

Ratings affirmed:

  Kraton Performance Polymers, Inc.
  Speculative Grade Liquidity - SGL-2

Ratings confirmed:

  Kraton Polymers LLC.
  Gtd. Senior Unsecured Notes due 2019 - B1, LGD4 *
  Outlook -- Stable

* Ratings on the outstanding Gtd. Senior Unsecured Notes due 2019
will be withdrawn upon close of the transaction. (Kraton Polymers
Capital Corporation is a co-issuer of the notes)

RATINGS RATIONALE

The B1 CFR reflects Kraton's elevated leverage (5.5x pro forma for
the transaction, including synergies), increase in debt service
costs, the large acquisition that doubles its size, and the
challenges of successful integration, which will demand the
realization of significant synergies and cost savings to drive free
cash flow and debt repayment.  The integration risk incorporates
the size of the transaction, the lack of product manufacturing
overlap, and that Kraton does not have a track record of making
such large acquisitions.  In addition, 2016 will be a transition
year with elevated leverage and cash used to effect the synergy and
cost-out programs.  (Kraton expects to realize $65 million in
synergies over three years for its integration of Arizona and has
already initiated a four-year cost cutting program which will save
$70 million, to be completed by 2018.)  The rating also reflects
Kraton's exposure to volatile raw material pricing, large
well-funded competitors, and some commoditized products that are
exposed to greater price pressures.

Kraton's ratings are supported by the fundamentally larger and more
diverse company, with revenues over $1.9 billion, and roughly twice
the operating footprint globally.  EBITDA margins and free cash
flows will benefit from combining Kraton's focus on higher margin
HSBC and Cariflex products with Arizona's historically strong
profitability, resulting from its specialty product focus and
advantaged feedstock position.  Other factors supporting rating are
the company's leading market positions, raw material
diversification (hydrocarbons and CTO/CST based products),
long-lived customer and supplier relationships, added end-markets
and customers, and entry into "green" product offerings.
Management's public target of 2.5x leverage through the cycle and
plans for debt reduction support anticipated credit metric
improvements in 2017, as Moody's projects cost-out and synergy
programs to lower expenses within 12 months.

Kraton's Speculative Grade Liquidity rating SGL-2 reflects its good
liquidity profile.  Liquidity is supported by an expected cash
balance over $40 million at the close of the transaction and
expectations for strong cash generating capabilities, which will be
largely used in 2016 to effect cost saving and synergy plans.  A
new $250 million five year ABL revolving credit facility, which
will be undrawn at the close of the transaction, will also support
liquidity.  The new $250 million ABL credit facility has two
tranches to support global operations, a US facility and a foreign
facility, wherein the US tranche is no less than 50% of the total
commitment.  The ABL provides for $30mm of LC's in the USA and
$20mm in Europe.  Availability on the revolver is subject to a
borrowing base limitation, which is governed by the sum of 85% of
A/R plus 65% of inventory.  The ABL will be undrawn at closing and
is expected to be lightly used, generally in periods of volatile
raw material prices.  The revolver has a springing fixed charge
covenant of 1x, which is triggered if excess availability declines
below a certain threshold.

The new six-year $1.350 billion senior secured term loan has a
senior secured net leverage covenant of 4.0x with step-downs.  The
first lien also has a 50% cash flow sweep, beginning in Dec. 31,
2016, which has leverage based step-down provisions. The new
eight-year $425 million senior unsecured notes are covenant-lite.
Kraton also has a 5.5 billion New Taiwan Dollar (NTD) delayed draw
credit facility ($166 million at Sept. 30, 2015, exchange rate)
through KFPC to finance the Taiwan HSBC project.  This facility is
being drawn down as needed to fund capex and to fund working
capital prior to start-up in late-2016.  As of Sept. 30, 2015, the
NTD facility had $52.6 million outstanding.  Both Kraton and
Formosa guarantee the debt as part of the 50/50 JV arrangement --
Kraton fully consolidates the JV.

Some seasonality in working capital can be a use of cash since the
company typically builds inventories in the first half of the year
and releases working capital in the second half, but the timing of
cash use can also shift with raw material price vagaries.  In 2014,
Kraton initiated a $50 million share repurchase program, which is
now complete.  The company does not pay a dividend and Moody's do
not expect such uses of cash while it is integrating Arizona,
executing its cost cutting program, and completing the Formosa JV
capital expansion project.

The stable outlook reflects Moody's expectation that Kraton's
leverage will remain elevated for the next 12-15 months, while it
implements its costs savings and synergies plans.  The outlook
anticipates that Kraton will use free cash flow to reduce leverage
rapidly, below 4.5x by year-end 2017 or earlier.  Additionally,
Moody's expects the company will maintain conservative financial
policies that include no shareholder remuneration or large debt
funded acquisitions until a meaningful amount of debt is repaid.
The rating has limited upside in the near-term due to the debt
funded acquisition and resulting elevated leverage, but could be
upgraded once leverage is sustainably below 4.5x.  Conversely, the
rating could be downgraded if EBITDA margins deteriorate, and
leverage exceeds 6.5x, or if free cash flow is not used primarily
for debt repayment.

Kraton Performance Polymers, Inc., headquartered in Houston, Texas,
is a leading global producer of styrenic block copolymers (SBCs),
which are synthetic elastomers used in industrial and consumer
applications to impart favorable product characteristics such as
flexibility, resilience, strength, durability and processability.
Major end uses for Kraton's products include personal care
products, packaging and films, medical applications, adhesives,
sealants, coatings, paving, roofing and compounds.  In September
2015, Kraton announced its intention to acquire Arizona Chemical
Holdings Corporation, a global leader in the production and sales
of pine based specialty chemicals headquartered in Jacksonville,
Florida.  Arizona Chemical is owned by private equity sponsor
American Securities LLC's (75%) and Rhône Capital LLC's (25%).
The initial owner, International Paper (Baa2), provides key
feedstock supply contracts with Arizona Chemical which will be
transferred to Kraton.  Kraton and Arizona have complementary
businesses and end-markets with approximately 50% overlap in
markets which include adhesives, roads & construction, fuel
additives, and oilfield chemicals.  Pro forma the combined company
will have revenues of $1.9 billion for the LTM ending September 30,
2015 (Kraton and Arizona generated revenues of
$1.1 billion and $830, respectively, for the LTM period ending
Sept. 30, 2015.)

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in Dec. 2013.



KRATON PERFORMANCE: S&P Lowers CCR to 'B', Outlook Stable
---------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Kraton Performance Polymers Inc. to 'B' from 'B+' and its
corporate credit rating on the wholly-owned subsidiary, Kraton
Polymers LLC, to 'B' from 'B+'.  S&P also lowered its corporate
credit rating on Arizona Chemical Holdings Corp. to 'B' from 'B+'
and its corporate credit rating on the wholly-owned subsidiary, AZ
Chem US Inc., to 'B' from 'B+'.  S&P removed the ratings from
CreditWatch, where it had placed them with negative implications on
Sept. 29, 2015.  The outlook is stable.

At the same time, S&P assigned its 'B+' issue-level and '2'
recovery ratings to Kraton's proposed first-lien secured term loan.
The '2' recovery rating indicates S&P's expectation of substantial
(low end of the 70% to 90% range) recovery in the event of a
payment default.  S&P also assigned its 'CCC+' issue-level and '6'
recovery ratings to Kraton's proposed senior unsecured notes.  The
'6' recovery rating indicates S&P's expectation of negligible (0%
to 10% range) recovery in the event of payment default.

In addition, S&P lowered its issue-level ratings to 'B-' from 'B'
and maintained the '5' recovery rating on Kraton's existing senior
unsecured debt.  The '5' recovery rating indicates S&P's
expectation of modest (higher end of the 10%-30% range) recovery in
the event of a payment default.  S&P also lowered the issue-level
ratings to 'B+' from 'BB-' and maintained the '2' recovery ratings
on Arizona Chemical's existing first-lien secured credit
facilities.  The '2' recovery rating indicates S&P's expectation of
substantial (higher end of the 70%-90% range) recovery in the event
of a payment default.  S&P also lowered its issue-level ratings to
'CCC+' from 'B-' and maintained the '6' recovery rating on Arizona
Chemical's existing second-lien secured credit facility.  The '6'
recovery rating indicates S&P's expectation of negligible (0%-10%
range) recovery in the event of a payment default.

S&P will withdraw the corporate credit ratings on Arizona Chemical
Holding and AZ Chem US upon closure of the acquisition.  S&P will
also withdraw its issue-level and recovery ratings on Kraton's and
Arizona Chemical's existing debt upon repayment.

"Our ratings reflect our assessment of Kraton Performance Polymer's
financial risk profile as 'highly leveraged' and business risk
profile as 'weak', pro forma for the acquisition, as defined in our
criteria," said Standard & Poor's credit analyst Brian Garcia.
"Given the choice of a 'b' or 'b-' anchor score, we choose 'b'
because we view the company's credit measures as being on the
stronger end of the "highly leveraged" financial risk profile," he
added.

Kraton, the leading producer of both unhydrogenated and
hydrogenated SBCs (USBC's and HSBCs, respectively), will be
acquiring Arizona Chemical, the leading supplier of pine-based
specialty chemicals and the largest global crude tall oil (CTO)
refiner.  S&P expects the product mix of the legacy Kraton business
to continue shifting to higher-value products, including its
Cariflex brand products.  S&P expects the legacy Arizona Chemical
business to continue to benefit from the 20-year energy-index-based
contract for purchasing International Paper's CTO coproduct,
providing a reliable source of this raw material for the company
over this period.

The stable outlook reflects S&P's expectation that credit measures
for Kraton Performance Polymers Inc. will weaken following the
acquisition of Arizona Chemical Holdings Corp. with adjusted
debt/EBITDA reaching over 6x before strengthening in the following
one to two years.  S&P expects operating performance to improve in
the coming years as a result of cost-saving initiatives, which it
expects to result in credit measures strengthening with weighted
average sustainable debt to EBITDA in the range of 5x to 6x pro
forma for acquisitions.

S&P could lower the ratings within the next 12 months if a
combination of weak demand volume, falling selling prices, and raw
material price increases leads to debt to EBITDA approaching 7x on
a weighted average sustainable basis pro forma for acquisitions
without any foreseeable improvement.  S&P could also lower ratings
if the company faces significant challenges in the integration of
Arizona Chemical and if expected benefits from cost-saving
initiatives fail to materialize.  S&P could also lower the ratings
if, against its expectations, the company were to pursue additional
large debt-financed acquisitions or shareholder rewards.

S&P could raise the ratings within the next 12 months if the
company is successful in integrating the Arizona business and at
implementing its cost-saving initiatives, leading to credit
measures that are in line with an "aggressive" financial profile,
including debt to EBITDA stronger than 5x on a weighted average
sustainable basis pro forma for acquisitions.  To raise the
ratings, S&P would also expect the company to maintain "adequate"
liquidity, as well as maintaining a prudent approach to funding
growth initiatives and shareholder rewards.



LEHMAN BROTHERS: Counsel Says NY Court Can Hear $17M Claim vs. ANZ
------------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that attorneys
representing a Lehman Brothers subsidiary on Nov. 24, 2015,
defended a lawsuit against a subsidiary of Australia's ANZ Bank
seeking to claw back more than $17.1 million, telling a New York
bankruptcy judge that ANZ's argument that the funds fall outside
the court's jurisdiction is misplaced.

The lawsuit against subsidiary ANZ Nominees is one of several
complaints Lehman filed against foreign entities that entered into
credit default swaps with Lehman Brothers Special Financing Inc.,
which served as a counterparty in the deals.

                     About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/-- was     

the fourth largest investment bank in the United States.  For
more than 150 years, Lehman Brothers has been a leader in the
global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

Lehman Brothers filed for Chapter 11 bankruptcy Sept. 15, 2008
(Bankr. S.D.N.Y. Case No. 08-13555).  Lehman's bankruptcy
petition disclosed US$639 billion in assets and US$613 billion in
debts, effectively making the firm's bankruptcy filing the
largest in U.S. history.  Several other affiliates followed
thereafter.

Affiliates Merit LLC, LB Somerset LLC and LB Preferred Somerset
LLC sought for bankruptcy protection in December 2009.

The Debtors' bankruptcy cases are handled by Judge James M. Peck.
Harvey R. Miller, Esq., Richard P. Krasnow, Esq., Lori R. Fife,
Esq., Shai Y. Waisman, Esq., and Jacqueline Marcus, Esq., at
Weil, Gotshal & Manges, LLP, in New York, represent Lehman.  Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Dennis F. Dunne, Esq., Evan Fleck, Esq., and Dennis O'Donnell,
Esq., at Milbank, Tweed, Hadley & McCloy LLP, in New York, serve
as counsel to the Official Committee of Unsecured Creditors.  
Houlihan Lokey Howard & Zukin Capital, Inc., is the Committee's
investment banker.

On Sept. 19, 2008, the Honorable Gerard E. Lynch of the U.S.
District Court for the Southern District of New York, entered an
order commencing liquidation of Lehman Brothers, Inc., pursuant
to the provisions of the Securities Investor Protection Act (Case
No. 08-CIV-8119 (GEL)).  James W. Giddens has been appointed as
trustee for the SIPA liquidation of the business of LBI.

The Bankruptcy Court approved Barclays Bank Plc's purchase of
Lehman Brothers' North American investment banking and capital
markets operations and supporting infrastructure for US$1.75
billion.  Nomura Holdings Inc., the largest brokerage house in
Japan, purchased LBHI's operations in Europe for US$2 plus the
retention of most of employees.  Nomura also bought Lehman's
operations in the Asia Pacific for US$225 million.

Lehman emerged from bankruptcy protection on March 6, 2012, more
than three years after it filed the largest bankruptcy in U.S.
history.  The Chapter 11 plan for the Lehman companies other than
the broker was confirmed in December 2011.

As of Oct. 2, 2014, Lehman's total distributions to unsecured
creditors have amounted to $92.0 billion.  As of Sept. 30, 2014,
the brokerage trustee has substantially completed customer claims
distributions, distributing more than $106 billion to 111,000
customers.


LOCATION BASED: Eliminates Part-Time CFO Position
-------------------------------------------------
Location Based Technologies, Inc.'s part-time Chief Financial
Officer, Mr. Gregory Andrews will no longer provide independent
contracting CFO services for the Company as part of its overall
cost saving strategy effective as of Nov. 1, 2015.  Financial
services will be provided by existing staff comprised of its
controller and book keeping services.

                About Location Based Technologies

Irvine, Calif.-based Location Based Technologies, Inc., designs,
develops, and sells leading-edge personal locator devices and
services.

Location Based reported a net loss of $5.14 million for the year
ended Aug. 31, 2014, compared to a net loss of $11.04 million for
the year ended Aug. 31, 2013.

As of Feb. 28, 2015, Location Based had $2.24 million in total
assets, $14.3 million in total liabilities, and a $12.02 million
total stockholders' deficit.

Friedman LLP, in East Hanover, New Jersey, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Aug. 31, 2014, citing that the Company's
operating losses raise substantial doubt about its ability to
continue as a going concern.

                        Bankruptcy Warning

"[W]e remain obligated under a significant amount of notes
payable, and Silicon Valley Bank has been granted security
interests in our assets.  If we are unable to pay these or other
obligations, the creditors could take action to enforce their
rights, including foreclosing on their security interests, and we
could be forced into liquidation and dissolution.  We are also
delinquent on a number of our accounts payable.  Our creditors may
be able to force us into involuntary bankruptcy," the Company
warned in the Fiscal 2014 Annual Report.


LYONDELL CHEMICAL: Shareholders Bids to Junk Claims Partially OK'd
------------------------------------------------------------------
Fund 1, Reichman and Hofmann have moved once again to dismiss the
intentional fraudulent transfer claims asserting that the
deficiencies identified in the First 12(b)(6) Decision were not
cured.

The Movants also seek to dismiss the state law constructive
fraudulent transfer claims (asserted only in Fund 1 and Reichman)
for a number of other reasons as well—principally arguing that
the Trustee lacks the standing to bring the suits.

In a Decision dated November 18, 2015, which is available at
http://is.gd/A6E8Gtfrom Leagle.com. Judge Robert E. Gerber of the
United States Bankruptcy Court for the Southern District of New
York granted Fund 1, et al.'s motions to dismiss the claims filed
by Edward S. Weisfelner, as trustee of the LB Credit Trust, for
intentional fraudulent transfer; and denied Fund 1 et al.'s motions
to dismiss the claims for constructive fraudulent transfer.

The adversary cases are EDWARD S. WEISFELNER, AS TRUSTEE OF THE LB
CREDITOR TRUST, Plaintiff, v. FUND 1, et al., Defendants. EDWARD S.
WEISFELNER, AS TRUSTEE OF THE LB CREDITOR TRUST, Plaintiff, v.
REICHMAN, et al., Defendants. EDWARD S. WEISFELNER, AS LITIGATION
TRUSTEE OF THE LB LITIGATION TRUST, Plaintiff, v. HOFMANN, et al.,
Defendants, ADVERSARY PROCEEDING CASE NO. 10-04609 (REG)., 12-01570
(REG), ADVERSARY PROCEEDING CASE NO. 10-05525 (REG)(Bankr.
S.D.N.Y.).

The bankruptcy case is In re: LYONDELL CHEMICAL COMPANY, et al.,
Chapter 11 Debtors, CASE NO. 09-10023 (REG) JOINTLY ADMINISTERED
(Bankr. S.D.N.Y.).

Edward Weisfelner, Plaintiff, represented by Aaron Lauchheimer,
Esq. -- Brown Rudnick LLP, May Orenstein, Esq. --
morenstein@brownrudnick.com -- Brown Rudnick LLP, Steven D. Pohl,
Esq. -- spohl@brownrudnick.com -- Brown Rudnick LLP, Sigmund S.
Wissner-Gross,  Esq. -- swissnergross@brownrudnick.com -- Brown
Rudnick, LLP.

Mutual Fund 1, Defendant, represented by Alexander R. Bilus, Esq.
-- Dechert LLP, Michael S. Doluisio, Esq. --
michael.doluisio@dechert.com -- Dechert LLP, Scott Cameron
Kessenick,  Esq. -- scott.kessenick@dechert.com -- Dechert LLP,
Stuart T. Steinberg,  Esq. -- stuart.steinberg@dechert.com --
Dechert LLP.

                          Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  Luxembourg-based Basell AF
and Lyondell Chemical Company merged operations in 2007 to form
LyondellBasell Industries, the world's third largest independent
chemical company.  LyondellBasell became saddled with debt as
part of the US$12.7 billion merger.  Len Blavatnik's Access
Industries owned the Company prior to its bankruptcy filing.

On Jan. 6, 2009, LyondellBasell Industries' U.S. operations,
led by Lyondell Chemical Co., and one of its European holding
companies -- Basell Germany Holdings GmbH -- filed voluntary
petitions to reorganize under Chapter 11 of the U.S. Bankruptcy
Code to facilitate a restructuring of the company's debts.  The
case is In re Lyondell Chemical Company, et al., Bankr. S.D.N.Y.
Lead Case No. 09-10023).  Seventy-nine Lyondell entities filed
for Chapter 11.  Luxembourg-based LyondellBasell Industries AF
S.C.A. and another affiliate were voluntarily added to Lyondell
Chemical's reorganization filing under Chapter 11 protection on
April 24, 2009.

Deryck A. Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in
New York, served as the Debtors' bankruptcy counsel.  Evercore
Partners served as financial advisors, and Alix Partners and its
subsidiary AP Services LLC, served as restructuring advisors.
AlixPartners' Kevin M. McShea acted as the Debtors' Chief
Restructuring Officer.  Clifford Chance LLP served as
restructuring advisors to the European entities.

LyondellBasell emerged from Chapter 11 bankruptcy protection in
May 2010, with a plan that provides the Company with US$3 billion
of opening liquidity.  A new parent company, LyondellBasell
Industries N.V., incorporated in the Netherlands, is the
successor of the former parent company, LyondellBasell Industries
AF S.C.A., a Luxembourg company that is no longer part of
LyondellBasell.  LyondellBasell Industries N.V. owns and operates
substantially the same businesses as the previous parent company,
including subsidiaries that were not involved in the bankruptcy
cases.  LyondellBasell's corporate seat is Rotterdam,
Netherlands, with administrative offices in Houston and
Rotterdam.


MATTRESS FIRM: S&P Puts 'B+' CCR on CreditWatch Negative
--------------------------------------------------------
Standard & Poor's Ratings Services placed all its ratings on
Mattress Firm Holding Corp., including the 'B+' corporate credit
rating and all issue-level ratings, on CreditWatch with negative
implications.

"The CreditWatch placement reflects our view that Mattress Firm's
credit metrics could weaken meaningfully pro forma for its
acquisition of Sleepy's, given the assumption of certain
liabilities totaling about $30 million and additional senior
secured debt to finance the transaction," said credit analyst Diya
Iyer.  "Both Sleepy's and Mattress Firm are currently leveraged in
the mid-4x range on a lease-adjusted basis, and we believe this
acquisition could push leverage closer to the 6x range."

S&P expects to resolve the CreditWatch placement on Mattress Firm
upon the acquisition's close, at which point S&P would likely
withdraw the ratings on HMK's debt when it is repaid.



MATTRESS HOLDING: Moody's Affirms B1 CFR on Sleepy's Announcement
-----------------------------------------------------------------
Moody's Investors Service affirmed Mattress Holding Corp.'s
("Mattress Firm") B1 Corporate Family Rating, B1-PD Probability of
Default Rating, and Ba3 rating on its term loan due 2021.  The
outlook remains stable.

The rating affirmation follows the company's Nov. 30 announcement
that it had entered into an agreement to acquire HMK Mattress
Holdings, LLC ("Sleepy's", B3 stable) in a transaction valued at
$780 million.  Mattress Firm plans to finance the purchase and
related fees with incremental debt, approximately $30 million of
assumed Sleepy's mortgages and a $10 million rollover equity
contribution.  While the exact terms and conditions of the
financing have not been announced, the company expects to issue a
$750-800 million add-on term loan.  The deal is expected to close
in the first half of FY 2016.

The rating affirmation reflects Moody's view that the addition of
Sleepy's will allow Mattress Firm to expand its geographic reach
and realize significant synergies over time by leveraging
nationwide advertising, delivery and distribution.  With a total of
1,066 stores, Sleepy's dominates the Northeast region (where
Mattress Firm has little presence) and has meaningful presence in
the mid-Atlantic and Chicago markets where it overlaps with
Mattress Firm.  However, the rating will be weakly positioned in
the B1 rating category following the transaction given the increase
in financial leverage expected to result from the acquisition and
integration challenges generally associated with such combinations
that could elevate operational risk.  Moody's estimates that the
acquisition will raise lease-adjusted debt/EBITDA slightly above
the downgrade trigger on a pro-forma LTM Q2'15 basis excluding
synergies.  The deal will also be Mattress Firm's second
transformative acquisition in just over a year, coming on the heels
of Sleep Train, which is still in the process of integration.

The affirmation is subject to receipt and review of final deal
documentation.  Moody's assumes that the deal will be financed at
rates and terms similar to those of the existing term loan.  In
addition, Moody's assumes that the company will have sufficient
availability under its asset-based revolving credit facility to
meet the requirements of the expanded business.

These ratings of Mattress Holding Corp. were affirmed:

   -- Corporate Family Rating, at B1
   -- Probability of Default Rating, at B1-PD
   -- $720 million first lien senior secured term loan due 2021,
      at Ba3 (LGD3)
   -- Speculative-Grade Liquidity Rating, at SGL-2
   -- Outlook, remains stable

RATINGS RATIONALE

The B1 Corporate Family Rating reflects Mattress Firm's position as
the largest specialty mattress retailer with coast-to-coast reach
in the highly fragmented U.S. market, credible growth opportunities
from new store expansion, and prospects for steady near-term demand
driven by improving U.S. household formation. Pro-forma for the
Sleepy's acquisition, the company will have presence across the
United States and leading share in the majority of its markets.  At
the same time, the rating considers the increase in leverage and
integration risk following the pending Sleepy's deal.  The rating
also reflects Mattress Firm's narrow product focus as a mattress
retailer, and limited organic growth in the highly competitive
mattress retailing industry, which creates dependence on continual
investment in new store openings and acquisitions to generate
growth.

The stable outlook assumes that the company will deleverage towards
5 times debt/EBITDA over the next 12 months through earnings growth
and debt repayment.  The outlook also assumes that the company will
maintain good liquidity including strong positive free cash flow
and sufficient revolver availability.

The ratings could be downgraded if the company faces challenges
integrating acquisitions, if revenue and earnings decline, or the
company's liquidity profile deteriorates for any reason.
Quantitatively, ratings could be downgraded if debt/EBITDA is
sustained above 5.0 times or EBITA/Interest expense is sustained
below 2.0 times.

The ratings could be upgraded if the integration of 2014 and 2015
deals proceeds on plan and the company continues to demonstrate
solid organic growth, such that lease-adjusted leverage is
sustained at or below 4.0 times and EBITA/interest expense above
2.5 times.  An upgrade would also require a commitment to more
conservative financial policies, including the lack of meaningful
debt-financed acquisitions.

Mattress Holding Corp. is a subsidiary of specialty mattress
retailer Mattress Firm Holding Corp., which operates 2,420 stores
in the U.S., including franchised locations (as of Nov. 3, 2015,
based on preliminary reported results).  Mattress Firm Holding
Corp. is publicly traded but J.W. Childs owns approximately 36%.
Revenues for the 12 months ended November 3, 2015 were
approximately $2.5 billion.  Pro-forma for the announced
acquisition of Sleepy's, Mattress Firm will operate over 3,400
stores and have revenues of over $3.6 billion.

The principal methodology used in these ratings was Retail Industry
published in October 2015.



MCCLATCHY COMPANY: Moody's Affirms Caa1 CFR, Outlook Stable
-----------------------------------------------------------
Moody's Investors Service affirmed the credit ratings of The
McClatchy Company and changed the rating outlook to stable from
positive due to continued weakness in the print advertising market
and the ongoing pressure on the company's operating cashflow. While
the company has spent the majority of 2015 working on improving its
digital product offerings and re-organizing the sales-force, the
results of these efforts may take time to yield, placing further
pressure on ongoing debt-to-EBITDA leverage.  In addition, Moody's
is revising the Speculative Grade Liquidity rating to SGL-3, as it
expects ongoing top-line pressure to depress free cash flow
generation, and potentially result in short term draws on the
company's revolving credit facility for working capital needs.
McClatchy's Corporate Family rating was affirmed at Caa1 and the
Probability of Default Rating and debt instrument ratings were
affirmed as summarized.

Issuer: McClatchy Company (The)

Outlook Actions:

  Outlook, Changed To Stable From Positive

Affirmations:

  Corporate Family Rating, Affirmed Caa1
  Probability of Default Rating, Affirmed Caa1-PD
  Speculative Grade Liquidity Rating, revised to
    SGL-3 from SGL-2
  Gtd Senior Secured Notes due 2022, Affirmed B1, LGD2

Issuer: Knight Ridder, Inc. (assumed by The McClatchy Company)

  Unsecured Unguaranteed Notes and Debentures, Affirmed Caa2, LGD5

RATINGS RATIONALE

McClatchy's Caa1 Corporate Family Rating reflects persistent
revenue pressure on the company's newspaper and print operations,
reliance on cyclical advertising spending, and its high leverage
including a large underfunded pension.  These risks are only
partially tempered by the company's good market position in local
news and a favorable maturity profile that diminishes default risk
over the next two years.  Moody's expects newspapers will continue
to face growing competition with technology-driven changes in media
consumption and shifts by advertisers away from print media
creating ongoing pressure on revenue and margins.  McClatchy is
likely to face more competition as the company grows digital
revenue and expands offerings such as direct marketing or digital
marketing solutions for local businesses, and we expect gains will
not fully offset declines in print newspaper revenue.

Ratings get some support from the company's plans to utilize a
portion of free cash flow to invest in digital operations with long
term growth potential or to repay debt.  Looking forward,
maintaining EBITDA margins for each of the company's print
operations and generating sufficient free cash flow to invest in
growth strategies while funding debt maturities will be challenging
due to continued secular pressure on core newspapers. Moody's
expects leverage to remain high near-term, in excess of 8x
(incorporating Moody's standard adjustments), as the company
continues to realize the results of its digital initiatives and
sales force re-alignment.  While the company maintains commitment
to reducing its debt using available cash-flow proceeds, top-line
pressure on revenues remains, resulting in Moody's revising its
outlook from Positive to Stable.

The stable rating outlook reflects our expectation that the U.S.
economy will continue to grow modestly and, despite declines in
print ad revenue and investments in digital development and
salesforce re-alignment, EBITDA margins will remain above industry
average.  Moody's expects leverage to remain elevated while the
actioned changes for 2015 cycle through the company's business
operations and results.  Moody's expects the company to continue
using any free operating cash flow towards debt repayment.  The
stable rating outlook also incorporates Moody's expectation that
McClatchy will maintain at least adequate liquidity and minimal
free cash flow-to-debt generation.

McClatchy's ratings could be downgraded if there is continuous
negative free cash flow or persistent revenue declines with limited
prospects for a reversal.  Ratings could be upgraded if the company
is able to reduce overall revenue erosion leading to smaller
percentage declines in EBITDA with free cash flow in excess of 5%
of debt and with debt-to-EBITDA expected to remain below 6.0x
(including Moody's standard adjustments).  The company would also
need to maintain good liquidity including a comfortable EBITDA
cushion to financial covenants and an expectation that it can
address debt maturities as they come due.

The principal methodology used in these ratings was Global
Publishing Industry published in Dec. 2011.

The McClatchy Company, headquartered in Sacramento, CA, is one of
the largest newspaper companies in the U.S., with 29 daily
newspapers, community newspapers, websites, mobile news and
advertising, niche publications, direct marketing and direct mail
services.  McClatchy holds equity investments in CareerBuilder (15%
ownership) and HomeFinder.com, LLC (33.3%) as well as other
newspaper and online properties.  The McClatchy family members and
trusts, formed for the benefit of the McClatchy family, own roughly
28% of the economic interest in the company and control
approximately 80% of voting power through a dual class share
structure.  Revenue for the LTM ended Sept. 27, 2015, was
approximately $1.1 billion.



MEDNAX INC: Moody's Assigns Ba2 CFR, Outlook Stable
---------------------------------------------------
Moody's Investors Service assigned a Ba2 Corporate Family Rating
and Ba2-PD Probability of Default Rating to MEDNAX, Inc.  At the
same time, Moody's assigned a Ba2 rating to MEDNAX's proposed
$500 million senior unsecured notes.  In addition, Moody's also
assigned a Speculative Grade Liquidity Rating of SGL-1.  The rating
outlook is stable.  This is the first time Moody's has assigned
public ratings to MEDNAX.

Proceeds will be used to repay borrowings under the company's $1.7
billion revolving credit facility expiring in 2019 (not rated).

These ratings have been assigned:

MEDNAX, Inc.:

  Corporate Family Rating at Ba2
  Probability of Default Rating at Ba2-PD
  $500 million senior unsecured notes maturing 2023 at Ba2 (LGD 4)

The rating outlook is stable

RATING RATIONALE

MEDNAX's Ba2 Corporate Family Rating reflects the company's
significant product line concentration in neonatal and pediatric
subspecialties, which represent about 58% of revenues.  It also
reflects the company's aggressive acquisition strategy, and the
evolving nature of its business focus.  Moody's expects the company
to concentrate its acquisition led growth on transactions outside
its core high margin neonatal specialty, as such the rating agency
expects over time EBITDA margins will compress. Moody's expects
that MEDNAX's financial leverage will increase in the near-term,
but remain moderate at below 3.0 times.  The rating benefits from
the company's leading market position in neonatal physician
staffing, moderate exposure to government reimbursement and Moody's
expectation of continued EBITDA growth and stable cash flow.
Furthermore, Moody's also expects that MEDNAX will remain
disciplined with respect to the use of incremental debt for
acquisitions.

The stable rating outlook reflects Moody's belief that even as
MEDNAX pursues an active acquisition strategy, that the company
will be able to sustain debt to EBITDA around 2.5 times, aided by
positive organic sales growth and new contract wins.

Moody's does not anticipate an upgrade in the near-term.  Over the
longer term, if the company can continue to effectively manage its
acquisition-led growth without material disruptions to operations
or a material increase in debt, the ratings could be upgraded.

Moody's could downgrade the ratings if the company pursues material
debt-financed acquisitions or shareholder initiatives.  In
addition, the rating could come under pressure should there be
negative developments in reimbursement or payor mix, or the
inability to retain physicians and/or hospital contracts that
materially impact operating results.  More specifically, if debt to
EBITDA is sustained above 3.5 times, Moody's could downgrade the
ratings.

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


Based in Sunrise, FL, MEDNAX, Inc. is a leading provider of
physician staffing in neonatal, pediatric, and anesthesiology
services to hospitals across 35 states and Puerto Rico.  The
company also provides teleradiology services in all 50 states
through a network of more than 350 affiliated radiologists.



MMM HOLDINGS: S&P Raises CCR & Sec. Debt Rating to 'B-'
-------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
counterparty credit and secured debt ratings on MMM Holdings Inc.
to 'B-' from 'D'.  The outlook is negative.

MMM (the downstream holding company of Innovacare Inc.) executed an
amendment to its credit agreement that resolves all current
defaults.  Following discussions with lenders earlier this year,
the company elected not to make its third-quarter principal
amortization payment on its first-lien term loan and had been
operating under a forbearance agreement with lenders since
Sept. 30, 2015.

Under the amended credit agreement, the company will no longer be
required to make mandatory quarterly principal amortization
payments.  These payments were causing the company liquidity stress
because of the need to maintain enough capital at its regulated
entities to meet local regulatory requirements (in this case, a
risk-based capital [RBC] ratio of at least 200%).  Per the amended
credit agreement, the company will now be required make a debt
prepayment of $10.0 million-$11.875 million on March 31, 2016, with
the amount depending on the RBC ratio of its regulated entities,
and another debt prepayment for fiscal 2016 based on an excess-cash
flow calculation (conditional on the company maintaining a RBC
ratio of at least 200%).

Among other changes, the company will now have the option to make
part of its interest payments on a paid-in-kind (PIK) basis.  In
addition, the company's previous financial maintenance covenants
have been replaced by a minimum EBITDA per quarter (with an
approximate 20% EBITDA cushion built in) and a minimum RBC of 150%
(of the authorized control level) at the regulated entities.
Separately, the company's $30 million revolver was canceled.

The negative outlook reflects the potential for a downgrade to the
'CCC' category during the next 12 months if the company cannot
sustain its earnings stabilization, and if this increases the
refinancing risk regarding its term loan, which effectively matures
in March 31, 2017 (or up to June 30, 2017, with waiver extensions).
If it appears likely that the company will be unable to refinance
its debt and default is inevitable, S&P will downgrade the rating
to 'CC'.

An upgrade during the next 12 months is unlikely given the rating
action.  However, S&P would consider affirming the ratings with a
stable outlook if the company is able to meet its expectations for
operating performance in 2016-2017 and position itself for a
successful refinancing or strategic alternative.  In the long term
(beyond 12 months), an upgrade is possible if the company can grow
profitably, improve operating performance, maintain stronger
regulated capital, and operate at stronger leverage and coverage
metrics.



MOLYCORP INC: May Have to Sell Assets to Repay Debt
---------------------------------------------------
Seeking Alpha reports that Molycorp Inc may need to sell assets to
repay its $1.8-billion debt load.  Seeking Alpha claims that $600
million of the Company's $2.4 billion in assets are worthless.

Seeking Alpha says that of the $1.8 billion that remains, about
$1.7 billion are related to property, plant and equipment, and its
Mountain Pass facility.  The Company's PP&E, Seeking Alpha states,
may have limited buyers given the downturn in the mining sector.

Seeking Alpha relates that the Company spent billions to modernize
its Mountain Pass rare earth mine just as rare earth prices were
cratering.  According to the report, the Company failed to service
its debt, delayed interest payments totaling about $36 million in
the second quarter precluded its bankruptcy filing.

The Company has about $1.8 billion in total debt of which (i) $374
million is related to term loans and equipment financing and [ii]
$1.4 billion in senior and subordinated bonds, Seeking Alpha
relates.

                       About Molycorp, Inc.

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

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

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

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

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

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

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

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

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

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


MORTGAGE FUND '08: Montgomery Wins Summary Judgment Bid
-------------------------------------------------------
Before the United States Bankruptcy Court for the Northern District
of California, Oakland Division, are cross-motions for summary
judgment filed by plaintiff Susan L. Uecker, the liquidating
trustee appointed under the confirmed plan of Mortgage Fund '08
LLC, and defendant Robert L. Montgomery.

The Trustee moves for summary judgment on the California Civil Code
constructive fraudulent transfer claim in her first amended
complaint.  Montgomery moves for summary judgment on the
affirmative defenses asserted in his answer.

Judge Roger L. Efremsky of the United States Bankruptcy Court for
the Northern District of California, Oakland Division, granted
summary adjudication in favor of the Defendant, holding that the
Settlement Agreement is ambiguous and the extrinsic evidence shows
that the release in the Settlement Agreement covers the Trustee's
claims in the adversary proceeding.  Judge Efremsky deems the
remaining issues as moot.

The adversary proceeding is SUSAN L. UECKER, Trustee of the
Mortgage Fund '08 Liquidating Trust, Plaintiff, v. ROBERT L.
MONTGOMERY, Defendant, ADV. PROC. NO. 13-4190 RLE (Bankr. N.D.
Calif.).

The bankruptcy case is In re: MORTGAGE FUND '08 LLC, Chapter 11,
Debtor, CASE NO. 11-49803 RLE (Bankr. N.D. Calif.).

Susan L. Uecker, Liquidating Trustee of Mortgage Fund '08
Liquidating Trust, Plaintiff, represented by Erin E. Daly, Jeffer
Mangels Butler & Mitchell LLP, Bennett G. Young, Jeffer Mangels
Butler and Mitchell LLP.

A full-text copy of the Memorandum Decision dated November 19, 2015
is available at http://is.gd/M6xzNqfrom Leagle.com.

Robert Montgomery, Defendant, is represented by:

          Richard S. Miller, Esq.
          111 S. Calvert Street #2700
          Baltimore, MD 21202
          Phone: (800) 581-3087
          24-Hour Cell: (410) 996-4488


NATIVE WHOLESALE: Court Affirms June 29 Judgment Order
------------------------------------------------------
Appellant Native Wholesale Supply Company, Inc., appeals a June 29,
2015 Order of the bankruptcy court, and seeks to overturn the
bankruptcy court's interpretation of the term "Final Order" in its
confirmed plan of reorganization.

Appellee State of Oklahoma has moved to dismiss the appeal due to:
(1) procedural default because appellant has not perfected the
appeal; and (2) because the bankruptcy court ruling under appeal is
moot.  The Appellee has also moved for imposition of monetary
sanctions on grounds that the appeal was frivolous and was filed to
delay payments due to appellee under the plan.

In a Decision and Order dated November 19, 2015, which is available
at http://is.gd/34mZ6Pfrom Leagle.com, Judge Richard J. Arcara of
the United States District Court for the Western District of New
York affirmed the bankruptcy court's June 29, 2015 Order.  The June
10, 2014 Judgment of the Oklahoma Supreme Court was properly found
to be a Final Order by the bankruptcy court, Judge Arcara held.  At
this time, the Court does not reach State of Oklahoma's motion for
sanctions, Judge Arcara said.

The case is NATIVE WHOLESALE SUPPLY COMPANY, Appellant, v. STATE OF
OKLAHOMA, Appellee,NO. 15-CV-665-A (W.D. Okla.).

Native Wholesale Supply Company, Appellant, represented by Janet G.
Burhyte, Esq. -- jburhyte@gross-shuman.com -- Gross, Shuman,
Brizdle & Gilfillan, P.C. & Robert J. Feldman, Esq. --
rfeldman@gross-shuman.com -- Gross, Shuman, Brizdle & Gilfillan,
P.C..

The State of Oklahoma, Appellee, represented by Craig Thomas
Lutterbein, Hodgson Russ LLP, E. Clyde Kirk, Assistant Attorney
General & Karen Cordry.

              About Native Wholesale Supply Company

Native Wholesale Supply Company is engaged in the business of
importing cigarettes and other tobacco products from Canada and
selling them to third parties within the United States.  It
purchases the products from Grand River Enterprises Six Nations,
Ltd., a Canadian corporation and the Debtor's only secured
creditor.  Native is an entity organized under the Sac and Fox
Nation and has its principal place of business at 10955 Logan Road
in Perrysburg, New York.

Native filed for Chapter 11 bankruptcy (Bankr. W.D.N.Y. Case No.
11-14009) on Nov. 21, 2011.  The Chapter 11 filing was triggered
to resolve an ongoing dispute with the United States government
regarding up to $43 million in assessments made by the government
against the Debtor pursuant to the Fair and Equitable Tobacco
Reform Act of 2004 and the Tobacco Transition Payment Program and
to restructure the terms of payment of any obligation determined
to be owing by the Debtor to the U.S. under the Disputed
Assessment.  The issues pertaining to the Disputed Assessment
resulted in two lawsuits, subsequently consolidated, now pending
in
the Federal District Court.

Robert J. Feldman, Esq., and Janet G. Burhyte, Esq., at Gross,
Shuman, Brizdle & Gilfillan, P.C., in Buffalo, N.Y., represent the
Debtor as counsel.

The Company disclosed $30,022,315 in assets and $70,590,564 in
liabilities as of the Chapter 11 filing.

The States of California, New Mexico, Oklahoma and Idaho have
appeared in the case and are represented by Garry M. Graber, Esq.,
and Craig T. Lutterbein, Esq., at Hodgson Russ LLP, in Buffalo,
Newj York, and Karen Cordry, Esq., National Association of
Attorneys General, in Washington, D.C.

According to a Consensual Disclosure Statement for Joint
Consensual
Plan of Reorganization of Native Wholesale Supply Company, and the
States dated March 6, 2014, the Debtor established a Plan Funding
Account at M&T and deposited $5.5 million on Feb. 4, 2014, and an
additional $500,000 was deposited on Feb. 14, 2014.  An additional
$500,000 will be deposited in the Plan Funding Account on each
succeeding 15th day of each month (or the first business day after
the 15th) beginning in March 2014 until the Plan is confirmed.

No trustee, examiner or creditors' committee has been appointed in
the case.


NAVIOS SOUTH AMERICAN: S&P Lowers Corporate Credit Rating to 'B'
----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
ratings on Navios South American Logistics Inc. to 'B' from 'B+'.
At the same time, S&P lowered its issue-level rating on Navios
Logistics Finance (US) Inc.'s senior unsecured notes to 'B' from
'B+'.

The downgrade of Navios Logistics reflects similar action on its
parent company, Navios Maritime Holdings.  Low charter rates and
uncertain outlook for the dry bulk shipping industry will limit
Navios Holdings' ability to improve credit metrics in 2016, as S&P
previously expected.

Navios Logistics remains a fairly stable cash generator thanks to
its long-term contracted position with protective clauses and to
the company's operating efficiency.  S&P expects Navios Logistics
to continue investing in expansion of its port operations over the
coming quarters, which should raise EBITDA to about $140 million
and EBITDA margins to above 35% by 2017 from $84 million and 30%
expected for 2015.  This, combined with a smooth debt amortization
profile and sound liquidity position, supports S&P's view of the
company's SACP remaining at 'b+'.



NEWLEAD HOLDINGS: Annual General Meeting Set for Dec. 23
--------------------------------------------------------
NewLead Holdings Ltd. will hold its 2015 Annual General Meeting of
Shareholders on Dec. 23, 2015. at 11:00 a.m., Athens time, on
Wednesday, Dec. 23, 2015, at NewLead Holdings Ltd.'s office located
at 83 Akti Miaouli & Flessa Street, Piraeus, Greece, for the
following purposes:

  1. To receive the directors' report and audited financial
     statements of NewLead Holdings Ltd. for the fiscal year ended
     Dec. 31, 2014, together with the auditor's report thereon.

  2. To reappoint EisnerAmper LLP as the Company's independent
     auditors to hold office from the conclusion of the 2015
     annual general meeting until the close of the Company's next
     annual general meeting and to authorize the Board of
     Directors to determine the auditors' remuneration.

  3. To re-elect Michail S. Zolotas as Class I director to hold
     office from the conclusion of the 2015 annual general meeting
     until the Company's 2018 annual general meeting.

  4. To elect Samuel Gulko as a Class II director to hold office
     from the conclusion of the 2015 annual general meeting until
     the Company's 2017 annual general meeting.

  5. To approve and authorize the Board of Directors, in
     accordance with the Company's Bye-laws, to effect a
     consolidation of the Company's common shares at a ratio of
     not less than 1-for-20 and not more than 1-for-1000 at any
     time prior to June 30, 2016, with the manner of
     implementation, ratio and timing of such consolidation to be
     determined by the Board of Directors.

  6. To consider any other business that may be properly presented
     at the meeting.

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

                        http://is.gd/CtDauC

                    About NewLead Holdings Ltd.

Based in Athina, Greece, NewLead Holdings Ltd. --
http://www.newleadholdings.com/-- is an international, vertically
integrated shipping company that owns and manages product tankers
and dry bulk vessels.  NewLead currently controls 22 vessels,
including six double-hull product tankers and 16 dry bulk vessels
of which two are newbuildings.  NewLead's common shares are traded
under the symbol "NEWL" on the NASDAQ Global Select Market.

Newlead reported a net loss attributable to the Company's
shareholders of $100 million on $12.6 million of revenues for the
year ended Dec. 31, 2014, compared to a net loss attributable to
the Company's shareholders of $158 million on $7.34 million of
revenues for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $190 million in total assets,
$300 million in total liabilities, and a $110 million total
shareholders' deficit.

Cherry Bekaert LLP, in Charlotte, North Carolina, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has incurred
a net loss, has negative cash flows from operations, negative
working capital, an accumulated deficit and has defaulted under its
credit facility agreements resulting in all of its debt being
reclassified to current liabilities all of which raise substantial
doubt about its ability to continue as a going concern.


NGL ENERGY: Moody's Assigns B2 Rating on New $300MM Unsecured Notes
-------------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to NGL Energy
Partners LP's proposed offering of $300 million senior unsecured
notes due 2020.  NGL's other ratings and negative outlook were
unchanged.

Net proceeds from this offering will be used to reduce borrowings
under NGL's revolving credit facilities and for general partnership
purposes.  The proposed notes will be jointly issued by NGL Energy
Partners LP and its wholly owned subsidiary NGL Energy Finance
Corp.

"This is a leverage neutral transaction," said Sajjad Alam, Moody's
AVP-Analyst.  "Liquidity however, will improve modestly from
increased availability under the credit facilities."

Issuer: NGL Energy Partners LP

Assignments:

  US$300 Million Senior Unsecured Regular Bond/Debenture,
  Assigned B2, LGD5, 87%

RATINGS RATIONALE

The proposed unsecured notes will rank equally in right of payment
to NGL's existing 5.125% and 6.875% notes and hence the new notes
were assigned the same B2 rating.  The new notes will be junior to
NGL's secured credit facilities and 6.65% secured notes.  All of
NGL's unsecured notes are rated two notches below the Ba3 Corporate
Family Rating (CFR) because of the large proportion of secured debt
in the capital structure and Moody's expectation that the company
will continue to maintain a high level of utilization of its
revolving credit facilities to fund acquisitions and working
capital needs.  NGL has $2.44 billion of secured revolving credit
facilities plus $250 million of secured notes that have an
all-asset pledge and a priority claim over unsecured lenders.

The Ba3 CFR reflects NGL's elevated leverage and ongoing high level
of capital spending, portfolio of numerous discrete assets;
significant exposure to weather, throughput volumes, commodity
prices and basis differentials; and the generally low barriers to
entry for most of its service-oriented businesses.  The rating also
reflects the highly acquisitive nature of the management team, the
Master Limited Partnership business model that requires large
ongoing distributions and the challenging industry landscape that
will likely slow volume and margin growth through 2017.  The Ba3
CFR is supported by NGL's increasing scale, diversified and
somewhat vertically integrated operations across several key US oil
and gas basins that reduce cash flow volatility; a high proportion
of fee-based cash flows from its water solutions,
terminals/storage, and logistics businesses; and a seasoned
management team with significant ownership stake.  The company
continues to improve its business risk profile by focusing on
increasing the proportion of fee based revenues under medium and
long term contracts.  Moody's expects management to focus on
strengthening its balance sheet and liquidity over the next several
quarters because of weak anticipated industry conditions in the US
driven by lower oil prices.

The negative outlook reflects NGL's already elevated financial
leverage and heavy capital spending through 2016.  The CFR could be
downgraded if it appears that leverage will remain above 5x through
the end of calendar 2016.  An upgrade is unlikely through 2016, but
looking further out, an upgrade is possible if NGL can reduce
leverage near 3.5x and maintain distribution coverage above 1.3x.
A higher proportion of fee-based cash flows generated under long
term contracts would also be viewed positively for the ratings.

The principal methodology used in this rating was the Global
Midstream Energy published in December 2010.

Headquartered in Tulsa, Oklahoma, NGL Energy Partners LP is a
publicly traded MLP with diversified midstream assets in several
key oil and gas basins in North America.



NUANCE COMMUNICATIONS: Proposed Notes No Impact on Moody's Ba3 CFR
------------------------------------------------------------------
Moody's Investors Service said Nuance Communications, Inc. (Ba3,
Stable) proposed $550 million senior unsecured convertible note
issuance has no impact on Nuance's Ba3 Corporate Family Rating.  If
the company is successful in raising the notes and repaying
existing term debt, the existing unsecured guaranteed notes due
2020, could be upgraded.



PACIFIC COAL: Fails to File Interim Financial Statements
--------------------------------------------------------
Pacific Coal Resources Ltd. on Dec. 1 disclosed that it has filed a
material change report in respect of the Company's default in
filing interim financial statements, management's discussion and
analysis, and certifications for the three and nine-month period
ending September 30, 2105 which were due to be filed on November
30, 2015 as required under National Instrument 51-102 Continuous
Disclosure Obligations.

In connection with the Company's inability to file the Third
Quarter Interim Financial Statements on time, the Canadian
securities regulators may issue a cease trade order.  The Company
has applied to applicable Canadian securities regulators requesting
that if a cease trade order is issued, it be a management cease
trade order (which restrains trading in the Company's securities by
certain Company insiders) as opposed to an issuer cease trade order
(which restricts all trading in the Company's securities).

Due to a loss of key personnel charged with the preparation of the
financial statements and a delay in obtaining key operational
information from a contractor, additional time is required to
complete the filing.  The Company is working diligently to file the
Third Quarter Interim Financial Statements in an expedient manner.
The Company currently expects to file the Third Quarter Interim
Financial Statements within a relatively short time period but no
later than two months, during which time the Company will provide
bi-weekly default status reports in accordance with Section 4.4 of
National Policy 12-203 - Cease Trade Orders for Continuous
Disclosure Defaults.

                About Pacific Coal Resources Ltd.

Pacific Coal Resources Ltd. is a Canadian-based mining company
engaged in the acquisition, exploration and production of coal and
coal-related assets from properties located in Colombia.  The
Company's common shares are listed on the TSX Venture Exchange and
trade under the symbol "PAK".


PALISADES PARK: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Palisades Park Plaza LLC
        500 Tenth Street
        Palisades Park, NJ 07650

Case No.: 15-32649

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Hon. Stacey L. Meisel

Debtor's Counsel: John W. Sywilok, Esq.
                  JOHN W. SYWILOK LLC
                  51 Main Street
                  Hackensack, NJ 07601
                  Tel: (201) 487-9390
                  Email: sywilokattorney@sywilok.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Chang Dong Kim, president.

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


PANGEA MERGER: Moody's Affirms B2 CFR, Outlook Stable
-----------------------------------------------------
Moody's Investors Service affirmed Pangea Merger Sub Inc.'s B2
Corporate Family Rating, B2-PD Probability of Default Rating and
the B1 rating for its proposed first lien credit facilities, and
withdrew the Caa1 rating for Pangea's second lien term loans.  The
facilities are being raised in connection with the acquisition of
Premiere Global Services, Inc. (PGS) by affiliates of Siris Capital
Group, LLC.  PGS announced that it plans to replace the previously
contemplated $150 million of second lien term loans with an
increase in the first lien term loan by $50 million and $100
million of intercompany loans from Pangea's indirect parent. The
rating outlook is stable.

Upon closing of the acquisition, PGS will guarantee the credit
facilities and obligations under the credit facilities which will
be assumed by PGS' wholly-owned subsidiary, American
Teleconferencing Services, Inc. (ATS).  Moody's will move all of
the ratings of Pangea to ATS at the close of the acquisition.

RATINGS RATIONALE

The revised terms of the financing will have no effect on the
closing leverage but will modestly enhance PGS' flexibility as a
result of the PIK interest option on the intercompany loans.

The CFR is weakly positioned in the B2 rating category which
reflects high initial leverage, elevated execution risk in
achieving cost savings, and PGS' intensely competitive markets. PGS
has moderate operating scale resulting from its limited product
diversity.  Moody's estimates that the company's total debt to
EBITDA at the close of the acquisition will increase to about high
6x (Moody's adjusted), before including the anticipated $60 million
of cost savings which will be realized by the end of 2017.  The
rating also incorporates the execution risk in offsetting declining
revenues in the audio conferencing services through growth in the
higher-margin, subscription-based collaboration services.  PGS has
a small market share in the collaboration market, which is
dominated by the leading enterprise software and networking
vendors.  The risks are partially mitigated by PGS' good liquidity,
including about $70 million of unrestricted cash, which covers
expected restructuring costs and deferred acquisition payments in
2016.  Although audio conferencing revenues are expected to
decline, the company generates strong gross margins from these
services.  Despite modest erosion in revenues over the next 12 to
18 months, Moody's expects the company's profitability to modestly
increase before including the planned cost savings.  The rating
additionally reflects Moody's expectation that PGS' total debt to
EBITDA will progressively decline to about 4.7x (Moody's adjusted,
assuming PIK interest) by 2017 and its free cash flow to debt ratio
will increase from about 1% to 2% in 2016 to 7% in 2017, including
restructuring costs during the periods.

The stable outlook is based on Moody's expectation that PGS will
maintain good liquidity and generate modestly positive free cash
flow over the next 12 months.

Moody's could downgrade PGS' ratings if liquidity deteriorates,
debt increases on a sustained basis, or if free cash flow is
expected to fall short of expectations as a result of competitive
pressures or execution challenges.  A rating upgrade is not
expected over the next 12 to 18 months given the company's weak
financial profile.  Moody's could raise PGS' ratings over time if
the company generates strong growth in operating cash flow, it
commits to conservative financial policies and if Moody's believes
that total debt to EBITDA (Moody's adjusted) and free cash flow
relative to total debt could be sustained below 4.5x and in excess
of 10%, respectively.

Ratings affirmed:

Issuer: Pangea Merger Sub Inc.:
  Corporate Family Rating, B2
  Probability of Default Rating, B2-PD
  1st lien revolving credit facility, B1 (LGD3)
  1st lien term loan facility, B1 (LGD3)

Ratings withdrawn:
  2nd lien term loan facility, Caa1 (LGD5)

Outlook:
  Outlook - Stable

Premiere Global Services, Inc. provides audio conferencing, web and
video collaboration services with approximately $567 million in
revenues for the twelve months ended Sept. 30, 2015.

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



PHOSCAN CHEMICAL: TSX Delisting Review Period Extended
------------------------------------------------------
PhosCan Chemical Corp. on Nov. 30 disclosed that the Toronto Stock
Exchange ("TSX") has notified the Company that TSX has decided to
extend its review of the eligibility of the Company's common shares
for continued listing for a period of 60 days.

PhosCan Chemical Corp. -- http://www.phoscan.ca/-- is a
Canada-based company, engaged in the exploration and evaluation of
the Martison Phosphate Project, which consists of the Martison
Phosphate Deposit and a planned phosphate mine, beneficiation
plant, conversion complex and solid fertilizer production facility
(the Martison Project).



PROQUEST LLC: S&P Revises Outlook to Negative & Affirms 'B' CCR
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its rating
outlook on Ann Arbor, Mich.-based content provider ProQuest LLC to
negative from stable.  At the same time, S&P affirmed its 'B'
corporate credit rating on the company and its 'BB-' issue-level on
the upsized first-out revolving credit facility.  The '1' recovery
rating on the credit facility is unchanged, indicating S&P's
expectation for very high recovery (90%-100%) of principal in the
event of a payment default.

S&P's 'B' issue-level and '3' recovery ratings on the company's
term loan B due 2021, which includes the proposed $275 million
add-on, are unchanged.  The '3' recovery rating indicates S&P's
expectations for meaningful recovery (50%-70%; lower half of the
range) of principal in the event of a payment default.

S&P also assigned its 'B-' issue-level and '5' recovery ratings to
the company's proposed $125 million second-lien term loan due 2022.
The '5' recovery rating indicates S&P's expectation for modest
recovery (10%-30%; lower half of the range) of principal in the
event of a payment default.

"The outlook revision reflects the additional risk associated with
ProQuest's increased leverage and the integration risk related to
its pending acquisition of Ex Libris Group," said Standard & Poor's
credit analyst Elton Cerda.  ProQuest plans to finance the
acquisition with the proceeds from the credit facilities, $170
million of additional equity from its sponsors, and almost $20
million from its balance sheet.  Pro forma for the transaction,
leverage increased to 7.3x from about 6x as of Sept. 30, 2015.  "We
expect that the company will decrease its debt leverage by 1x to
the mid-6x range over the next 12 months due to synergies and debt
repayment," said Mr. Cerda.

"Our corporate credit rating on ProQuest reflects our expectation
that the company's leverage will remain high, above 6x, during the
next 12 months, primarily due to its aggressive financial policy
and acquisition-driven growth strategy.  Our expectation
underscores our assessment of ProQuest's financial risk profile as
"highly leveraged."  Pro forma for the Ex Libris acquisition,
ProQuest generates almost 75% of its revenue from libraries in
higher education, where the evolution of e-books has aided growth.
We expect that Ex Libris' offerings, including its library services
platform, will likely enhance ProQuest's future growth. However,
some of ProQuest's corporate and government clients are facing
budgetary pressures and are not increasing spending allocations for
libraries, resulting in a low-growth near-term operating outlook
for the company.  As a result, we view ProQuest's business risk
profile as "weak", S&P said.

The negative rating outlook reflects ProQuest's increased execution
risk and debt leverage as a result of its pending acquisition of Ex
Libris, as well as S&P's expectation that leverage will remain very
high over the next 12 months.

S&P could lower the rating if the company's leverage remains
elevated above 6.5x as result of missteps in integrating the Ex
Libris acquisition or underperformance in its core business as a
result of economic weakness or customers budgetary pressure,
causing revenue and EBITDA declines and discretionary cash flow
contraction.  S&P could also lower the rating if the company's
liquidity becomes "less than adequate."

S&P would consider revising the outlook to stable if ProQuest's
leverage declines below 6.5x as a result of a successful
integration of its recent acquisitions and the achievement of
synergies.  Additionally, an outlook revision to stable would
entail ProQuest achieving revenue growth at a low-single-digit
percent rate on a sustained basis and maintaining a 20% cushion of
compliance with its most restrictive financial covenant.



PUERTO RICO: COFINA Senior Creditors Comment on "Superbond"
-----------------------------------------------------------
The senior creditors of the Puerto Rico Sales Tax Financing
Corporation ("COFINA"), on Nov. 30 issued the following statement
with respect to recent media coverage regarding the Commonwealth of
Puerto Rico's proposed "superbond":

"Recent press reports suggest that a proposed 'superbond' will rely
on a 'consolidation of revenue streams'.  While it is unclear if
this consolidation would include the portion of the sales and use
tax that is COFINA's property, it is important to note that the
usage of COFINA revenues without our consent would violate Puerto
Rican and U.S. Constitutions.  We await further details of this
proposed 'superbond' and look forward to working constructively
with all parties to reach a viable plan that places the
Commonwealth on the right path to economic sustainability.

"As one of the very few secured creditors in the Puerto Rico debt
structure, we expect that our property rights will be protected.
COFINA has been the Puerto Rico debt issue that individuals and
institutions both on and off-island have most trusted with their
capital, retirement accounts and life savings.  The Commonwealth
must respect the rights of retirees and creditors."


                        *       *       *

As reported in the Troubled Company Reporter-Latin America on Sept.
14, 2015, Standard & Poor's Ratings Services lowered its ratings on
the Commonwealth of Puerto Rico's tax-backed debt to 'CC' from
'CCC-' and removed the ratings from CreditWatch, where they had
been placed with negative implications July 20.  The outlook is
negative.


QUIKSILVER INC: Court Approves Deloitte as Tax Advisor
------------------------------------------------------
The Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware authorized Quiksilver Inc, et al., to employ
Deloitte Tax LLP as tax advisor nunc pro tunc to Oct. 1, 2015.

Deloitte Tax is expected to render these services:

   1. continued assistance to the Debtors under the Tax Consulting
Engagement Letter, including, among other things:

   a. advising the Debtors as they consult with the Debtors'
counsel and financial advisors on the cash tax effects of
restructuring and bankruptcy and the postrestructuring tax profile,
including plan of reorganization tax costs;

   b. advising the Debtors regarding the restructuring and
bankruptcy emergence process from a tax perspective, including the
tax work plan; and

   c. advising the Debtors on the cancellation of debt income for
tax purposes under Internal Revenue Code Section 108.

   2. review and sign the remaining of the Debtors' state and local
tax returns specified therein that had not been reviewed and signed
prior to the Petition Date.

The Debtors will coordinate with Deloitte Tax and the Debtors'
other professionals to minimize unnecessary duplication of efforts
amongst the Debtors' professionals.

The hourly rates of the firm's personnel are:

         Personnel Classification          Hourly Rates
         ------------------------          ------------
         Partner/Principal/Director           $795
         Senior Manager                       $705
         Manager                              $608
         Senior Staff                         $503
         Staff                                $398

In connection with the Tax Compliance Engagement Letter, Deloitte
Tax will charge a flat fee for the remaining few tax returns.  The
fee, given the tax returns remaining to be reviewed and executed,
is expected to be $10,000.

To the best of the Debtors' knowledge, Deloitte Tax is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Van C. Durrer, II, at Skadden, Arps, Slate, Meagher & Flom LLP,
counsel for the Debtor filed a certification in relation to the
application to employ Deloitte Tax.

                      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 Debtors' First Amended Joint Chapter 11 Plan of Reorganization
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.

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.  The Committee tapped Akin Gump
Strauss Hauer & Feld LLP, and Pepper Hamilton LLP as its co-counsel
as co-counsel; Province Inc. as its financial advisor and PJT
Partners Inc. as investment banker.


QUIKSILVER INC: ICR LLC Okayed as Communications Consultants
------------------------------------------------------------
The Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware authorized Quiksilver Inc, et al., to employ
ICR, LLC as corporate communications and public relations
consultants effective as of the Chapter 11 filing.

From 2000 to 2009, ICR provided Quiksilver with various corporate
communications and public relations services.  On Aug. 1, 2014, the
Debtors entered into the Engagement Agreement, originally for ICR
to provide investor relations services to the Debtors.  On Aug. 24,
2015, the parties entered into an addendum to the Aug. 1, 2014
agreement, to provide that ICR would also provide communications
services related to the Debtors' chapter 11 filings.

ICR LLC is expected to, among other things:

   a) develop public relations initiatives for the Debtors to
maintain public confidence and internal morale during the chapter
11 process;

   b) prepare press releases and other public statements for the
Debtors, including statements relating to major chapter 11 events;

   c) prepare other forms of communication to the Debtors' key
constituencies and the media; and

   d) perform such other communications consulting services as may
be requested by the Debtors.

The hourly rates charged by ICR professionals anticipated to be
assigned to the case are:

   Anton Nicholas                            $525
   Phil Denning                              $525
   Jason Chuboda                             $300
   Julia Young                               $250
   John McKenna                              $175
   Christine Beggan                          $175

ICR may involve other professionals employed by ICR with similar
experience and rates to implement communications strategies as may
be necessary from time to time.

On Aug. 1, 2014, the Debtors paid ICR $14,000 as an initial
retainer on account of investor relations services to be provided
to the Debtors.  On Sept. 1, 2015, the Debtors paid ICR a retainer
fee of $90,000 on account of bankruptcy communication services to
be provided to the Debtors.  ICR applied the retainer amounts
against ICR's prepetition fees and costs, such that ICR had nothing
on hand from the total retainer amounts paid.  Furthermore, ICR has
waived, or will waive, any additional prepetition amounts owing.

Van C. Durrer, II, at Skadden, Arps, Slate, Meagher & Flom LLP,
counsel for the Debtor filed a certification in relation to the
application to employ ICR, LLC.

                      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 Debtors' First Amended Joint Chapter 11 Plan of Reorganization
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.

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.  The Committee tapped Akin Gump
Strauss Hauer & Feld LLP, and Pepper Hamilton LLP as its co-counsel
as co-counsel; Province Inc. as its financial advisor and PJT
Partners Inc. as investment banker.


RCS CAPITAL: Moody's Lowers CFR to Caa1, Outlook Negative
---------------------------------------------------------
Moody's Investors Service downgraded RCS Capital Corporation's
ratings, including its corporate family rating that was downgraded
to Caa1 from B3.  The rating outlook is negative.

Moody's has taken these rating actions, which concludes Moody's
review for downgrade of RCS' ratings that was initiated on
Nov. 10, 2015:

  Corporate family rating, downgraded to Caa1 from B3

  $575 million senior secured first lien term loan, downgraded to
   Caa1 from B3

  $25 million senior secured first lien revolving credit facility,

   downgraded to Caa1 from B3

  $150 million senior secured second lien term loan, downgraded to

   Ca from Caa2

  Outlook, negative

RATINGS RATIONALE

Moody's said that RCS has suffered from a series of adverse events
that have diminished its franchise value and resulted in
significant and ongoing financial difficulties.  Moody's said the
downgrades reflect RCS' diminished ability to satisfy its debt load
from its ongoing activities, and also the risk that it may not be
able to attract a sufficient and timely amount of new investment
that is necessary to fully protect creditors' interests, as it
seeks to recapitalize its balance sheet.

Moody's said that RCS is now dependent upon the value of its
independent retail advisory activities, since its investment
banking and capital markets business has been further impaired by
an affiliate's recent announcement that it will cease activities in
products for which RCS had earned significant advisory fees.

Moody's said that RCS' independent retail advisory business retains
a reasonably strong franchise, yet has significantly underperformed
compared to management's expectations, and is not producing
sufficient cash flows to service RCS' existing level of debt.  This
underperformance might adversely affect potential investors'
valuation of the franchise, said Moody's.  Moody's added that other
headwinds from heightened uncertainty over the Department of
Labor's pending finalization of its fiduciary standard for
retirement account advisors, the prolonged low interest rate
environment, and regulatory compliance issues at RCS' non-core
operations, could further adversely affect investors' assessment of
RCS' value.  Such factors could inhibit RCS' ability to attract
sufficient new investment to adequately transform its capital
structure, or could prolong the decision-making process and result
in RCS encountering liquidity issues, said Moody's.

Moody's said the Ca rating on RCS' second lien term loan reflects
its higher expected loss content given its secondary claim upon
RCS' assets and the comparatively high magnitude of RCS' first lien
term loan.

Moody's said the negative outlook on RCS' ratings reflects the
heightened level of uncertainty concerning the satisfactory
resolution of these matters.

What Could Change the Rating - Up

Moody's said RCS' ratings could be upgraded should it successfully
complete its recapitalization in a manner that protects creditors'
interests and strengthens its ability to focus on improving its
retail financial advisory business.

What Could Change the Rating - Down

Moody's said RCS' ratings could be downgraded should it be
unsuccessful in its attempts to timely raise significant new
capital on terms that provide sufficient creditor protection, or if
its retail financial advisory business suffers a further downturn
in results.

The principal methodology used in these ratings was Global
Securities Industry Methodology published in May 2013.



REALOGY HOLDINGS: Redeems $196 Million Senior Notes Due 2020
------------------------------------------------------------
Realogy Group LLC, an indirect wholly owned subsidiary of Realogy
Holdings Corp., redeemed the $196 million aggregate principal
amount of outstanding 9.000% Senior Secured Notes due 2020 in
accordance with the terms and provisions of the indenture governing
the 9.000% Senior Secured Notes, dated as of Feb. 2, 2012, among
Realogy Group, Realogy Holdings, the subsidiary guarantors party
thereto, and The Bank of New York Mellon Trust Company, N.A. as
trustee, at a redemption price of 105.490%.  

In connection with the redemption of the 9.000% Senior Secured
Notes, Realogy Group paid total consideration of approximately $213
million, which included the applicable redemption premium and
accrued and unpaid interest.  Immediately following such
redemption, Realogy Group cancelled the 9.000% Senior Secured Notes
and discharged the 9.000% Senior Secured Notes Indenture in
accordance with its terms.

The 9.000% Senior Secured Notes were redeemed using cash on hand
and borrowings under Realogy Group's revolving credit facility.

                   About Realogy Holdings Corp.

Realogy Holdings Corp. (NYSE: RLGY) is a global leader in
residential real estate franchising with company-owned real estate
brokerage operations doing business under its franchise systems as
well as relocation and title services.  Realogy's brands and
business units include Better Homes and Gardens(R) Real Estate,
CENTURY 21(R), Coldwell Banker(R), Coldwell Banker Commercial(R),
The Corcoran Group(R), ERA(R), Sotheby's International Realty(R),
NRT LLC, Cartus and Title Resource Group.  Collectively, Realogy's
franchise system members operate approximately 13,500 offices with
251,000 independent sales associates doing business in 104
countries around the world. Realogy is headquartered in Madison,
N.J.

Realogy Holdings reported net income attributable to the Company of
$143 million on $5.32 billion of net revenues for the year ended
Dec. 31, 2014, compared to net income attributable to the Company
of $438 million on $5.28 billion of net revenues during the prior
year.

As of Sept. 30, 2015, the Company had $8.02 billion in total
assets, $5.63 billion in total liabilities and $2.39 billion in
total equity.

                           *     *     *

In the Aug. 1, 2013, edition of the TCR, Moody's Investors Service
upgraded the corporate family rating of Realogy Group to to B2
from B3.  The upgrade to B2 CFR is driven by expectations for
ongoing strong financial performance, supported by Realogy's
recently-concluded debt and equity financing activities and a
continuing recovery in the US existing home sale market.

As reported by the TCR on Feb. 18, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on Realogy Corp. to
'B+' from 'B'.

"The one notch upgrade in the corporate credit rating to 'B+'
reflects an increase in our expectation for operating performance
at Realogy in 2013, and S&P's expectation that total lease
adjusted debt to EBITDA will improve to the low-6x area and funds
from operations (FFO) to total adjusted debt will be improve to
the high-single-digits percentage area in 2013, mostly due to
EBITDA growth in the low- to mid-teens percentage area in 2013,"
S&P said.


REGENCY PARK: Case Summary & 9 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Regency Park Capital 2011, Inc.
           dba Super 8 Goodyear
        840 N. Dysart Road
        Goodyear, AZ 85338

Case No.: 15-15280

Chapter 11 Petition Date: December 1, 2015

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

Judge: Hon. Paul Sala

Debtor's Counsel: Lawrence D. Hirsch, Esq.
                  PARKER SCHWARTZ, PLLC
                  7310 N 16th ST #330
                  Phoenix, AZ 85020
                  Tel: 602-282-0477
                  Fax: 602-282-0478
                  Email: lhirsch@psazlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ranjit Singh, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/azb15-15280.pdf


RELATIVITY MEDIA: Disclosure Statement Hearing on Dec. 16
---------------------------------------------------------
Judge Michael E. Wiles will convene a hearing on Dec. 16, 2015 at
11:00 a.m. (ET), to consider approval of the disclosure statement
explaining the Plan of Reorganization proposed by debtors
Relativity Fashion, LLC, et al., and CEO Ryan C. Kavanaugh.

Objections to the adequacy of the information in the Disclosure
Statement are due Dec. 11 at 4:00 p.m.

According to the Plan Proponents, the Plan will allow the Debtors
to reorganize Relativity's non-TV Business units with a
substantially de-levered balance sheet utilizing new equity
investments and new financing.  Relativity's balance sheet will be
de-levered in the approximate amount of $500 million by paying off
or eliminating the Manchester DIP Claims, TLA/TLB Secured Claims,
Ultimates Secured Claims, Vine/Verite Secured Claims, and claim
under the Manchester Prepetition Credit Facility in exchange for a
$60 million BidCo Note and a $100 million New P&A/Ultimates
Facility.

The Plan contemplates entering into a revolving credit facility of
up to $250 million in the form of the New P&A/Ultimates Facility.
In addition, the Plan contemplates that Relativity will secure a
multi-year media buying agreement, for traditional and digital
media, that includes payment terms of at least 90 days.

Jim Cantelupe, of Summit Trail Advisors, LLC, has committed to work
with the Debtors to raise up to $100 million of new equity to fund
the Plan, which funds are to be escrowed on or before December 31,
2015

                    Classes of Claims and Interests

The classes of claims and interests impaired or unimpaired under
the Plan are:

  Class   Designation                Impairment   Entitled to Vote
  -----   -----------                ----------   ----------------
  A.   Priority Non-Tax Claims       Unimpaired  Deemed to Accept
  B.   TLA/TLB Secured Claims        Impaired    Entitled to Vote
  C.   Pre-Release P&A Sec. Claims   Unimpaired  Deemed to Accept
  D.   Post-Release P&A Sec. Claims  Impaired    Entitled to Vote
  E.   Production Loan Sec. Claims   Unimpaired  Deemed to Accept
  F.   Ultimates Secured Claims      Unimpaired  Deemed to Accept
  G.   Guilds Secured Claims         Impaired    Entitled to Vote
  H.   Vine/Verite Secured Claims    Unimpaired  Deemed to Accept
  I.   Other Secured Claims          Unimpaired  Deemed to Accept
  J.   General Unsecured Claim       Impaired    Entitled to Vote
  K.   Subordinated Claims           Impaired    Deemed to Reject
  L.   Interests                     Impaired    Deemed to Reject

The percentage recovery for holders of general unsecured claims
estimated to total $215 million (Class J) is TO BE DETERMINED.

The Plan proposes to treat claims and interests as follows:

   * TLA/TLB Secured Claims – the Holders of Allowed TLA/TLB
Secured Claims are entitled to receive 100% of the equity value of
the Debtors. Certain holders of the Allowed TLA/TLB Secured Claims
have agreed to less favorable treatment and will receive the BidCo
Note in full and final satisfaction, release, and discharge of, and
in exchange for, such TLA/TLB Secured Claim. Kavanaugh and Nicholas
have agreed to receive Reorganized Relativity Holdings Preferred
Units and such other treatment on account of approximately $175
million of their TLA/TLB Secured Claims described in the Revised
Relativity Holdings Operating Agreement.  Such claims are Impaired
and are classified in Classes B1 through B33, B35 through B56, B58
through B143 and B145 under the Plan.

   * Pre-Release P&A Secured Claims – RKA, as the Holder of the
Allowed Pre-Release P&A Secured Claim, will receive the following
treatment at the option of the Plan Proponents: (i) such Allowed
Secured Claim will be Reinstated; (ii) payment in full (in Cash) of
any such Allowed Secured Claim; or (iii) satisfaction of any such
Allowed Secured Claim by delivering the collateral securing any
such Allowed Secured Claim; provided, however, that if the Debtors
and RKA conclude their currently pending settlement negotiations,
the terms of any agreement will dictate the treatment of RKA and
Class C claims. Such Claims are Unimpaired and are classified in
Classes C5, C21, C108, C109 and C117 under the Plan.

   * Post-Release P&A Secured Claims – Reorganized Relativity
Holdings will Allow a claim in the approximately amount of
$26,818,821 (as of October 31, 2015 and as reduced in the ordinary
course until the Effective Date), which such amount will include,
without limitation, additional accrued interest, legal fees, costs,
expenses and other outstanding obligations of Reorganized
Relativity Holdings under the P&A Funding Agreement subject to
documentation of a replacement credit agreement, which will provide
among other things for an extension of the maturity dates as
compared to the pre-petition terms. The obligation will be secured
by a first-priority security interest originally (i)
cross-collateralized against Blackbird Productions, LLC and RML WIB
Films, LLC and (ii) individually as against RML Lazarus Films, LLC.
Such Claims are Impaired and are classified in Classes D8, D109 and
D121 under the Plan.

   * Production Loan Secured Claims – Except to the extent that a
Holder of an Allowed Production Loan Secured Claim agrees to less
favorable treatment, on the Effective Date, such Allowed Production
Loan Secured Claim will be Reinstated.  Such Claims are Unimpaired
and are classified in Classes E5 and E21 under the Plan.

   * Ultimates Secured Claims – Each Holder of an Ultimates
Secured Claim will receive the following treatment at the option of
the Plan Proponents: (i) such Allowed Secured Claim will be
Reinstated or (ii) payment in full (in Cash) of any such Allowed
Secured Claim. Such Claims are Unimpaired and are classified in
Classes F1, F2, F6, F7, F8, F10, F20, F24, F41, F47, F51, F77
through F83, F87, F95, F96, F99, F103, F109, F111, F112, F116,
F119, F121 and F126 under the Plan.

   *  Secured Guilds Claims – Each Holder of a Allowed Secured
Guilds Claim will receive a distribution one (1) year after the
Effective Date or as soon thereafter as practicable, payment in
full (including applicable interest) on account of such Allowed
Secured Guilds Claim, payable to each applicable Guild for the
benefit of each applicable Guild-represented employee. The
Reorganized Debtors will provide a designated payroll service with
information concerning such payments.  The payroll service will
prepare checks in the prescribed form, and the Reorganized Debtors
will fund the payroll process and applicable taxes.  As an
accommodation to the Reorganized Debtor, the Guilds will forward
such payments to the applicable Guild-represented employee. Such
Claims are Impaired and are classified in Classes G1, G2, G6, G7,
G8, G10, G20, G24, G41, G47, G51, G77 through G83, G87, G95, G96,
G99, G103, G109, G11, G112, G116, G119, G121 and G126 under the
Plan.

   * Vine/Vertie Secured Claims – Each Holder of a Vine/Verite
Secured Claim will receive the following treatment at the option of
the Plan Proponents: (i) such Allowed Secured Claim will be
Reinstated; or (ii) satisfaction of any such Allowed Secured Claim
by delivering the collateral securing any such Allowed Secured
Claim. Such Claims are Unimpaired and are classified in Classes H34
and H144 under the Plan.

   * Other Secured Claims – Each Holder of an Allowed Other
Secured Claim will receive the following treatment at the option of
the Plan Proponents: (i) such Allowed Secured Claim will be
Reinstated; (ii) payment in full (in Cash) of any such Allowed
Secured Claim; or (iii) satisfaction of any such Allowed Secured
Claim by delivering the collateral securing any such Allowed
Secured Claim.  Such Claims are Unimpaired and are classified in
Classes I1 through I145 under the Plan.

   * General Unsecured Claims – On the Effective Date, the
Reorganized Debtors will be deemed substantively consolidated for
plan purposes only, and each Holder of an Allowed General Unsecured
Claim will receive its Pro Rata share of (i) the Guaranteed GUC
Distributable Value and (ii) the GUC Litigation Trust Interests.
For the avoidance of doubt, all intercompany claims of the Debtors
will be disallowed and canceled as part of the deemed substantive
consolidation of the Debtors. For the avoidance of doubt, claims
arising under the Manchester Prepetition Credit Facility are
General Unsecured Claims. Such Claims are Impaired and are
classified in Classes J1 through J145 under the Plan.

   * Subordinated Claims – No property will be distributed to or
retained by the Holders of Subordinated Claims, and such Claims
will be extinguished on the Effective Date. Holders of Subordinated
Claims will not receive any distribution pursuant to the Plan.
Such Claims are Impaired and are classified in Classes K1 through
K145 under the Plan.

   * Interests – Holders of Interests in the Debtors will retain
no property under the Plan.  Such Claims are Impaired and are
classified in Classes L1 through L145 under the Plan.

The Debtors and Kavanaugh filed their proposed Plan of
Reorganization and a related Disclosure Statement on Nov. 18, 2015.
On Nov. 20, the Plan Proponents submitted a Corrected Disclosure
Statement.

Judge Wiles on Nov. 18 granted the Debtors' motion seeking to
shorten the notice period with respect to the hearing for approval
of the Disclosure Statement.

A copy of the Corrected Disclosure Statement filed Nov. 20, 2015,
is available for free at:

   http://bankrupt.com/misc/Relativity_1009_Corrected_DS.pdf
   http://bankrupt.com/misc/Relativity_1018_1009_DS_RL.pdf

                         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, 2015, 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.


RESIDENTIAL CAPITAL: Loses Bid to Enforce Plan Injunction
---------------------------------------------------------
The ResCap Liquidating Trust, as successor to Residential Funding
Company, LLC, filed a motion asking the U.S. Bankruptcy Court for
the Southern District of New York to enforce Plan Injunction and
Confirmation Order.

The Trust seeks to enforce the injunction provisions of the second
amended joint chapter 11 plan and the order confirming the Plan to
enjoin Decision One Mortgage Company, LLC, PHH Mortgage Corp.,
Honor Bank f/k/a The Honor State Bank, and Sierra Pacific Mortgage
Company, Inc., from continuing to assert counterclaims against RFC
and the Trust related to the Trust Litigation.  Additionally, the
Trust seeks to enforce Article IX.I of the Plan, which states that
"any person injured by willful violation of this injunction shall
be entitled to recover actual damages, including costs and
attorneys' fees and, in appropriate circumstances, may recover
punitive damages from the willful violator."  

In a Memorandum Opinion and Order dated November 23, 2015, which is
available at http://is.gd/8tHtlgfrom Leagle.com, Judge Martin
Glenn of the U.S. Bankruptcy Court for the Southern District of New
York denied the Motion of the ResCap Liquidating Trust for an order
enforcing Plan Injunction and Confirmation Order.

The case is In re: RESIDENTIAL CAPITAL, LLC, et al., Chapter 11,
Debtors, CASE NO. 12-12020 (MG) (JOINTLY ADMINISTERED)(Bankr.
S.D.N.Y.).

                      About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012. Neither Ally
Financial nor Ally Bank is included in the bankruptcy filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.7 billion in assets and $15.3 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap. Morrison & Foerster LLP is acting as legal
adviser to ResCap. Curtis, Mallet-Prevost, Colt & Mosle LLP is
the conflicts counsel. Rubenstein Associates, Inc., is the
public relations consultants to the Company in the Chapter 11
case. Morrison Cohen LLP is advising ResCap's independent
directors. Kurtzman Carson Consultants LLP is the claims and
notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of
its mortgage servicing and origination platform assets to Ocwen
Loan Servicing, LLC and Walter Investment Management Corporation
for $3 billion; and its portfolio of roughly 50,000 whole loans
to Berkshire Hathaway for $1.5 billion.

Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11
Plan co-proposed by Residential Capital and the Official Committee
of Unsecured Creditors.


RESTAURANTS ACQUISITION: Case Summary & 20 Top Unsecured Creditors
------------------------------------------------------------------
Debtor: Restaurants Acquisition I, LLC
        1301 E. Corporate Drive, Suite A
        Arlington, TX 76006

Case No.: 15-12406

Chapter 11 Petition Date: December 2, 2015

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

Debtor's Counsel: Jarret P. Hitchings, Esq.
                  DUANE MORRIS LLP
                  222 Delaware Avenue, Suite 1600
                  Wilmington, DE 19801
                  Tel: 302-657-4952
                  Fax: 302-397-2740
                  Email: jphitchings@duanemorris.com

                    - and -

                  Sommer Leigh Ross, Esq.
                  DUANE MORRIS, LLP
                  222 Delaware Avenue, Suite 1600
                  Wilmington, DE 19801-1659
                  Tel: 302.657.4951
                  Fax: 215-979-1020
                  Email: slross@duanemorris.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Craig W. Barber, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/deb15-12406.pdf


SAN JUAN OIL: Case Summary & 12 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: San Juan Oil Company Inc.
        PO Box 4698
        Carolina, PR 00984

Case No.: 15-09593

Chapter 11 Petition Date: December 1, 2015

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

Debtor's Counsel: Wigberto Lugo Mender, Esq.
                  LUGO MENDER GROUP, LLC
                  Centro Internacional De Mercadeo
                  100 Carr 165 Suite 501
                  Guaynabo, PR 00968-8052
                  Tel: 787 707-0404
                  Email: wlugo@lugomender.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Nestor del Castillo-Hernandez,
president.

A list of the Debtor's 12 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb15-09593.pdf


SERVICEMASTER PROFESSIONAL: Case Summary & 20 Unsecured Creditors
-----------------------------------------------------------------
Debtor: Servicemaster Professional Cleaning, Inc.
           dba ServiceMaster Professionals
        4169 Virginia Beach Blvd., Ste. 125
        Virginia Beach, VA 23452

Case No.: 15-74142

Chapter 11 Petition Date: December 1, 2015

Court: United States Bankruptcy Court
       Eastern District of Virginia (Norfolk)

Judge: Hon. Frank J. Santoro

Debtor's Counsel: Kelly Megan Barnhart, Esq.
                  ROUSSOS, GLANZER & BARNHART, PLC
                  580 E. Main St., Ste. 300
                  Norfolk, VA 23510
                  Tel: 757-622-9005
                  Fax: 757-624-9257
                  Email: barnhart@rgblawfirm.com

                    - and -

                  Ashley Claudette Tucker, Esq.
                  ROUSSOS, GLANZER & BARNHART
                  580 E. Main St., Ste 300
                  Norfolk, VA 23510
                  Tel: 757-622-9005
                  Email: tucker@rgblawfirm.com

Total Assets: $151,761

Total Liabilities: $1.41 million

The petition was signed by Cara Dalrymple-Smith, officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/vaeb15-74142.pdf


SIGNAL INTERNATIONAL: Court Approves Sale of Assets to TRSA
-----------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware authorized Signal International, Inc., et al., to sell
substantially all of their assets to Teachers' Retirement System of
Alabama and the Employees' Retirement System of Alabama, in the
form of a credit bid.

Prior to the Petition Date, TRSA and ERSA made a term loan facility
to the Debtors in the aggregate amount of $75.0 million.  The
Prepetition Lenders also committed to provide (i) $91 million of
postpetition, consisting of $20 million of new money financing and
a $70 million roll-up of the Debtors' entire prepetition first lien
debt to the Debtors.  Pursuant to their agreement under the
Stalking Horse Asset Purchase Agreement, the Buyers credit bid
$90,620,906 of the Allowed DIP Financing Claim.

Prior to the sale hearing, the Debtors previously notified that
since no Qualified Bid other than the bid received from the
Teachers' Retirement System of Alabama and the Employees'
Retirement System of Alabama, which serve as the Stalking Horse
Bidder, was received prior to the October 13, 2015 Bid Deadline.
Thus, the Auction set for October 14 was cancelled.

Max Specialty Insurance Company, a judgment creditor with a lien on
all of the Debtors' property within Jackson County, Mississippi,
including the Pascagoula, Mississippi facility, opposed the sale
motion to the extent that the Debtors seek approval to consummate
the sale of their assets prior to funding of the MS Escrow as
required by the Final DIP Order.

Max Specialty filed a claim in the amount of $3,981,144, which
includes interest through the Petition Date.  The proof of claim
explicitly reserved Max Specialty's rights to post-petition
interest to the extent that it is determined to be oversecured.

Jackson County Port Authority and Canal Barge Company, Inc., object
to the Notice of Proposed Assumption and Assignment of Executory
Contracts and Unexpired Leases that was filed on September 9,
2015.

Canal Barge objects to the proposed cure amount to the extent that
it does not accurately portray the amounts owed under the terms of
the Agreement and does not include Canal's attorneys' fees.
Likewise, Canal objects to the assignment of the Agreement to the
potential purchaser without adequate assurance of future
performance under the Agreement.

The Port Authority stated that although it has no objections to
potential assumption and assignment of its leases, the Port
Authority asks the Court to direct the proper cure amounts under
the Leases and Notice, and direct that any assumption or assignment
must provide for the complete cure under the terms of the leases.

The Debtors are represented by:

          M. Blake Cleary, Esq.
          Kenneth J. Enos, Esq.
          Jaime Luton Chapman, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Tel: (302) 571-6600
          Fax: (302) 571-1253

Max Specialty Insurance Company is represented by:

         Christopher P. Simon, Esq.
         CROSS & SIMON, LLC
         1105 N. Market St., Suite 901
         P.O. Box 1380
         Wilmington, DE 19899-1380
         Tel: (302) 777-4200
         Fax: (302) 777-4224
         Email: csimon@crosslaw.com

            -- and --

         Filiberto Agusti, Esq.
         Joshua R. Taylor, Esq.
         STEPTOE & JOHNSON LLP
         1330 Connecticut Ave., NW
         Washington, DC 20036
         Tel: (202) 429-3000
         Fax: (202) 261-0658

Canal Barge Company, Inc. is represented by:

         Michael J. Joyce, Esq.
         Kevin S. Mann, Esq.
         CROSS & SIMON, LLC
         1105 North Market Street, Suite 901
         Wilmington, DE 19801
         Tel: (302) 777-4200
         Fax: (302) 777-4224
         Email: mjoyce@crosslaw.com
                kmann@crosslaw.com

Jackson County Port Authority of Jackson County, Mississippi is
represented by:

         R. Scott Williams, Esq.
         Jennifer B. Kimble, Esq.
         RUMBERGER, KIRK, & CALDWELL, P.C.
         Renasant Place
         2001 Park Place, Suite 1300
         Birmingham, AL 35203
         Tel: (205) 327-5550
         Fax: (205) 326-6786
         E-mail: swilliams@rumberger.com
                 jkimble@rumberger.com

                    About Signal International

Signal International Inc. -- http://www.signalint.com/-- primarily

engages in the business of offshore drilling rig overhaul, repair,
upgrade, and conversion, as well as new shipbuilding construction.

Additionally, Signal provides services to the general marine and
heavy fabrication markets for barges, power plants, and modular
construction.  

Signal International, LLC ("SI LLC"), was organized on Dec. 6,
2002, as a limited liability company after acquiring the assets of
the Offshore Division of Friede Goldman Halter from bankruptcy.

SI Inc. was incorporated on Oct. 12, 2007, and began operations
with offshore fabrication and repair in Mississippi.  Signal's
corporate headquarters are in Mobile, Alabama, with operations in
Alabama and Mississippi, and a sales office in Texas.

On Oct. 3, 2014, Signal International Texas, L.P., sold
substantially all of its assets to Westport Orange Shipyard, LLC,
in a partially seller-financed transaction for a total purchase
price of $35,900,000.  As part of the transaction, Westport
provided a down payment of $7,000,000 and delivered a promissory
note in the principal amount of $28,900,000 to SI Texas due on or
before Oct. 3, 2019 (the "Texas Note").

On July 12, 2015, SI Inc. and its direct and indirect wholly owned
subsidiaries, including SI LLC, commenced cases under chapter 11
of
title 11 of the United States Code (Bankr. D. Del. Lead Case No.
15-11498).

The Debtors tapped Young Conaway Stargatt & Taylor LLP as
bankruptcy counsel, Hogan Lovells US LLP as general corporate
counsel, GGG Partners, LLC, as financial and restructuring
advisors, and Kurtzman Carson Consultants LLC as claims and
noticing agent.

Signal International Inc. estimated $10 million to $50 million in
assets and $50 million to $100 million in debt.

The U.S. Trustee for Region 3 appointed seven creditors to serve
on
the official committee of unsecured creditors.


SILICON GENESIS: Hires ipCapital Group as Expert Witness
--------------------------------------------------------
Silicon Genesis Corporation seeks authorization from the Hon. M.
Elaine Hammond of the U.S. Bankruptcy Court for the Northern
District of California to employ ipCapital Group, Inc. to conduct
an appraisal of the Debtor's patent portfolio and as an expert
witness.

The Debtor seeks to retain ipCG to conduct an appraisal of the
Patent Portfolio and, to the extent necessary, to act as an expert
witness on the value of the Patent Portfolio in connection with a
hearing on confirmation of the Debtor's proposed Chapter 11 plan.

ipCG has agreed to perform an appraisal of the Patent Portfolio for
a flat fee of $30,000, together with all reasonable out of pocket
expenses estimated at 10-15% of fees.

ipCG's current hourly rate for services in connection with legal
proceedings, including testimony and preparation, is $312 per hour
for senior consultants and $750 per hour for ipCG directors. ipCG's
per day rate for trial preparation and testimony is $2,500 per day
for senior consultants and $6,000 per day for ipCG directors.

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

John Cronin, managing director and chairman of ipCG, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

ipCG can be reached at:

       John Cronin
       IPCAPITAL GROUP, INC.
       426 Industrial Avenue, Suite 150
       Williston, VT 05495
       Tel: (802) 859-7800 x 267
       Fax: (802) 859-0183

                        About Silicon Genesis

Silicon Genesis Corporation filed a Chapter 11 bankruptcy petition
(N.D. Calif. Case No. 15-50525) on Feb. 17, 2015.  Theodore E. Fong
signed the petition as president and CEO.  The Debtor estimated
assets of $10 million to $50 million and liabilities of $1 million
to $10 million.  

Judge Elaine Hammond presides over the case.  Kevin W. Coleman,
Esq., Schnader Harrison Segal and Lewis LLP represents the Debtor
as counsel.  

The Debtor disclosed $16,559,802 in assets and $7,951,043 in
liabilities.


SKYGREECE AIRLINES: Files for Bankruptcy; Creditors Meeting Dec. 8
------------------------------------------------------------------
The bankruptcy of SkyGreece Airlines S.A. occurred on Nov. 18,
2015, and the first meeting of creditors will be held on Dec. 8,
2015, at 10:00 a.m. at the Ernst & Young Tower, 222 Bay Street,
30th Floor in Toronto, Ontario.

The firm can be reached at:

   Ernst & Young Tower
   Toronto-Dominion Centre
   PO Box 251, 222 Bay Street
   Toronto, Ontario M5K 1J7
   Contact: Franca Mazzulla
   Tel: 416 941 7757
   Fax: 416 943 3300
   Email: skeygreece@ca.ey.com


SOUTHGOBI RESOURCES: Meets TSX Continued Listing Requirements
-------------------------------------------------------------
SouthGobi Resources Ltd. on Nov. 30 disclosed that the Toronto
Stock Exchange ("TSX") has confirmed and completed its review of
the Company and has determined that the Company meets TSX's
continued listing requirements.

                        About SouthGobi

SouthGobi, listed on the Toronto and Hong Kong stock exchanges, is
focused on exploration and development of its metallurgical and
thermal coal deposits in Mongolia's South Gobi Region.  It has a
100% shareholding in SouthGobi Sands LLC, a Mongolian registered
company that holds the mining and exploration licenses in Mongolia
and operates the flagship Ovoot Tolgoi coal mine.  Ovoot Tolgoi
produces and sells coal to customers in China.


SUTOR TECHNOLOGY: Receives Nasdaq Listing Non-Compliance Notice
---------------------------------------------------------------
Sutor Technology Group Limited on Dec. 1 disclosed that it received
a letter from the Listing Qualifications Department of The NASDAQ
Stock Market, on November 24, 2015, informing the Company that it
does not comply with the Nasdaq continued listing requirements set
forth in Nasdaq Listing Rule 5250(c)(1), which requires the timely
filing of periodic reports because the Company has not yet filed
its Form 10-Q for the period ended September 30, 2015.  The Nasdaq
notification letter does not result in the immediate delisting of
the Company's common stock, and the stock will continue to trade
uninterrupted under its current trading symbol.

The Company has until December 14, 2015, to submit a plan to regain
compliance with respect to the above delinquent reports.  The
Nasdaq Listing Rules provide that the Staff can grant the Company
an exception of up to 180 calendar days from the filing's due date,
or March 28, 2016 to regain compliance if Nasdaq accepts the
Company's plan of compliance.  The Company expects to submit the
delinquent reports or the plan of compliance before the deadline.

                About Sutor Technology Group Ltd

Sutor Technology Group Limited -- http://www.sutorcn.com-- is a
China-based manufacturer and customized service provider of
high-end fine finished steel products and welded steel pipes used
by a variety of downstream applications.  The Company utilizes a
variety of in-house developed processes and technologies to convert
steel manufactured by third parties into fine finished steel
products, including hot-dip galvanized steel, pre-painted
galvanized steel, acid-pickled steel, cold-rolled steel and welded
steel pipe products.  The Company also provides fee-based steel
processing services to customers, including industrial peers.


TECTUM HOLDINGS: Moody's Withdraws 'B1' CFR on Postponed IPO
------------------------------------------------------------
Moody's Investors Service has withdrawn all ratings for Tectum
Holdings Inc. following the postponement of the company's proposed
IPO at Truck Hero, Inc. and proposed senior secured credit
facilities.  Tectum Holdings is a wholly-owned subsidiary of Truck
Hero, Inc. (a non-operating holding company).

Ratings Withdrawn:

Tectum Holdings Inc.

  Corporate Family Rating, B1;
  Probability of Default Rating, B2-PD;
  $50 million senior secured revolving credit facility, B1 (LGD3);
  $390 million senior secured term loan, B1 (LGD3);

Outlook: Stable

Tectum Holdings is a wholly-owned subsidiary of Truck Hero, Inc. (a
non-operating holding company).  The company manufactures truck bed
covers, bed liners, truck caps, and sells truck accessory products
through its online retail business throughout the United States and
Canada.  Pro forma revenues for 2014, inclusive of acquisitions to
date, approximate $436 million.  The company is owned by affiliates
of TA Associates.



TIERPOINT LLC: Incremental Debt No Impact on Moody's 'B3' CFR
-------------------------------------------------------------
Moody's Investors Service said TierPoint, LLC's $30 million
incremental first lien revolving credit facility due 2019, its $220
million incremental first lien term loan due 2021, and its $90
million incremental second lien term loan due 2022 have no impact
on the company's ratings, including the B3 corporate family rating
and the stable outlook.  The proposed incremental facilities have
no impact on the company's existing first lien credit facilities
rated B2 and the existing second lien term loan rated Caa2.  The
proceeds from the incremental term loans, along with $329 million
of new cash equity, will be used to fund the acquisition of
Windstream Hosted Solutions, LLC.  The deal is expected to close in
Dec. 2015.

Despite the deal's meaningful equity financing component, leverage
(Moody's adjusted) will increase from the debt undertaken to fund
the purchase, and free cash flow will remain negative due to the
high capital intensity of the data center industry.  WHS is a carve
out from Windstream and the transaction will require incremental
capital investment and one-time expenses to integrate with
Tierpoint.  The separation of WHS from Windstream has execution
risk and could result in customer churn if Tierpoint encounters
difficulties with the integration of the two businesses.  Some
customers, specifically those that purchase multiple services from
Windstream and WHS could be negatively impacted by the separation.
Lastly, WHS has no stand-alone historic audited financials and the
impact to Tierpoint's consolidated results could put pressure on
Tirepoint's credit metrics.

Over a longer time horizon, Moody's views the transaction to be
beneficial for TierPoint.  WHS operates high quality facilities
with expansion potential in predominantly Tier II markets, which
are complementary to TierPoint's business.  WHS's hosted managed
services suite can also be leveraged with TierPoint's service
offerings to become a more competitive service provider.  The
acquisition will provide TierPoint with the added scale to become a
more formidable competitor in the data center industry, increasing
its datacenter footprint to 15 markets with 29 facilities and
provides a more balanced revenue mix of colocation, cloud and
managed services.

TierPoint's B3 corporate family rating reflects its small scale,
high leverage and consistent negative free cash flow which results
from its high capital intensity.  Tierpoint's revenue growth has
decelerated, yet its capital spending remains high at around 30% of
revenues for the last twelve months ended 9/30/15.  The rating also
incorporates Moody's concerns about the company's history of debt
funded acquisitions.  These limiting factors are offset by
TierPoint's stable base of contracted recurring revenues, its
position as a high quality colocation provider in a growth sector
and its exposure to less competitive Tier II markets.

The stable outlook reflects Moody's view that TierPoint will
continue its revenue growth and successfully integrate WHS into its
operations while maintaining adequate liquidity.

Moody's could consider a rating upgrade if free cash flow
approaches 5% of debt and leverage were to trend towards 4x (both
on a Moody's adjusted basis).

Downward rating pressure could develop if liquidity becomes
strained or Moody's adjusted leverage increases above 7x.

Headquartered in St. Louis, MO, TierPoint, LLC is a provider of
data center, managed hosting and cloud services.  Proforma for the
pending acquisition of WHS, the company operates 29 facilities in
15 markets.



U.S. STEEL: Moody's Lowers Corp. Family Rating to B1, Outlook Neg
-----------------------------------------------------------------
Moody's Investors Service downgraded United States Steel
Corporation's Corporate Family Rating to B1 and its Probability of
Default rating to B1-PD from Ba3 and Ba3-PD respectively.  At the
same time Moody's downgraded the senior unsecured notes rating to
B2 from B1, the industrial revenue bond ratings, supported by U.S.
Steel, to B2 from B1 and the senior unsecured shelf rating to (P)B2
from (P)B1.  The speculative grade liquidity rating remains
unchanged at SGL-2.  The outlook is negative.  This concludes the
review for downgrade initiated on Oct. 8, 2015.

The downgrade reflects the deterioration in U.S. Steel's debt
protection metrics and increasing leverage position as evidenced by
its EBIT/interest coverage ratio and debt/EBITDA ratio of 1x and
5.1x for the twelve months ended Sept. 30, 2015.  Given the further
downward movement in steel prices and industry capacity utilization
rates subsequent to the third quarter, U.S. Steel's debt protection
metrics are expected to weaken further for the fiscal year 2015 and
the time horizon for recovery to be extended. The company expects
2015 EBITDA to be approximately $225 million.

Challenging industry conditions -- arising from historically high
import levels and weak demand in certain end markets such as
machinery and equipment, the collapse of the Oil Country Tubular
Goods (OCTG) market -- to which U.S. Steel is the largest supplier
in the US and Canadian markets combined -- have resulted in weak
earnings performance as evidenced by negative EBIT of $47 million
for the nine months through Sept. 30, 2015 (including Moody's
standard adjustments).  Although the company continues to have a
good contracted position in sales to the automotive industry, lower
shipments and the ongoing downward fall in steel prices resulted in
the Flat-Rolled segment incurring a segment operating loss of $149
million for the nine months to Sept. 30, 2015, although losses have
been reducing on a sequential quarterly basis as the company
continues to focus on cost reductions.

Issuer: United States Steel Corporation

  Corporate Family Rating, Downgraded to B1 from Ba3

  Probability of Default Rating, Downgraded to B1-PD from Ba3-PD

  Multiple Seniority Shelf, Downgraded to (P)B2 from (P)B1

  Senior Unsecured Conv./Exch. Bond/Debenture, Downgraded to B2
   (LGD4) from B1 (LGD4)

  Senior Unsecured Regular Bond/Debenture, Downgraded to B2 (LGD4)

   from B1 (LGD4)

Unchanged

Issuer: United States Steel Corporation

  Speculative Grade Liquidity Rating, Unchanged at SGL-2

Downgrades:

Issuer: Allegheny County Industrial Dev. Auth., PA
  Senior Unsecured Revenue Bonds, Downgraded to B2 (LGD4) from B1
   (LGD4)

Issuer: Bucks County Industrial Development Auth., PA
  Senior Unsecured Revenue Bonds, Downgraded to B2 (LGD4) from B1
   (LGD4)

Issuer: Gulf Coast Waste Disposal Authority, TX
  Senior Unsecured Revenue Bonds, Downgraded to B2 (LGD4) from B1
   (LGD4)

Issuer: INDIANA FINANCE AUTHORITY
  Senior Unsecured Revenue Bonds, Downgraded to B2 (LGD4) from B1
   (LGD4)

Issuer: Lorain County Port Authority, OH
  Senior Unsecured Revenue Bonds, Downgraded to B2 (LGD4) from B1
   (LGD4)

Issuer: Ohio Water Development Authority
  Senior Unsecured Revenue Bonds, Downgraded to B2 (LGD4) from B1
   (LGD4)

Issuer: Southwestern Illinois Development Authority
  Senior Unsecured Revenue Bonds, Downgraded to B2 (LGD4) from B1
   (LGD4)

Outlook Actions:

Issuer: United States Steel Corporation
  Outlook, Changed To Negative From Rating Under Review

RATINGS RATIONALE

The B1 CFR considers U.S. Steel's currently low capacity
utilization rates (61% year-to-date Sept. 30, 2015, versus 81% for
the comparable 2014 period) and relatively high costs as a
percentage of sales given the less than optimal fixed cost
absorption capability on reduced production and shipment levels.
However, the rating anticipates that utilization rates and fixed
cost absorption will improve in 2016 given the company's actions to
idle capacity in its tubular segment as well as at its Granite
City, Illinois operations, the closing of the blast furnace and
related steelmaking operations as well as most of the flat-rolled
finishing operations at its Fairfield works in Alabama, lower input
costs for iron ore and coking coal and continued ability to drive
costs out and improve productivity through its Carnegie Way
program.  Additionally, the company continues to review its
operations for possible further consolidation.

The rating also acknowledges the pending trade cases for coated
steel, cold rolled steel and hot rolled steel, the outcome of which
will have an impact on industry performance, including that of U.S.
Steel.  The B1 CFR considers US Steel's position as a major steel
producer with a good diversity of products serving a number of end
users.  It also recognizes that performance will fluctuate
quarterly given the composition of the company's fixed price
contracts and spot sales leading to inter reporting period
volatility.  The company's good liquidity position provides further
support to the rating.

The SGL-2 speculative grade liquidity rating reflects the company's
solid cash position of $1.2 billion at Sept. 30, 2015, and full
availability under its $1.5 billion asset based revolving credit
facility.  The facility requires the company to maintain a 1:1
fixed charge coverage ratio should availability be less than $150
million.  While a modest free cash flow burn is expected in 2015,
the fixed charge coverage ratio is not expected to be tested and
working capital release is anticipated as inventory levels are
worked through.  U.S. Steel also has $256 million in credit
facilities available at its USSK subsidiary in Europe.  The
company's liquidity position is more than ample to cover the 2019
convertible notes, which at the end of the third quarter were
carried as current due to the fact that they are in default as a
result of the filing by U.S. Steel Canada under the Companies
Creditor Arrangement Act and a cross default to a debt obligation
between the Province of Ontario and U.S. Steel Canada. U.S. Steel
recently purchased $197.6 million of the convertible notes at par
plus accrued interest to the date of purchase and also announced
that it will be repurchasing in full the remaining outstanding
principal amount together with accrued and unpaid interest to the
payment date.

The negative outlook captures the potential for industry conditions
to weaken further and the company not be able to improve its
performance notwithstanding capacity curtailments and continued
success with its Carnegie Way program.  The outlook also considers
the uncertainty with respect to the ultimate resolution of the
pending trade cases.

Given U.S. Steel's metrics and the anticipated slow improvement, an
upgrade is unlikely in the next twelve to eighteen months.  The
ratings could be further downgraded if performance in 2016 does not
show improving trends such that EBIT/interest tracks toward 2.5x
and leverage moderates closer to 4x.  Ratings could also be
downgraded should liquidity contract meaningfully as we have
reduced our estimation of cash balances for the amount of
convertible notes outstanding.

Headquartered in Pittsburgh, Pennsylvania, United States Steel
Corporation is the second largest flat-rolled steel producer in
North America in terms of production capacity.  The company
manufactures and sells a wide variety of steel sheet, tubular, and
tin products across a broad array of industries, including service
centers, transportation, appliance, construction, containers, and
oil, gas and petrochemicals.  Through its major production
operations in North America and Central Europe, US Steel has a
combined annual raw steel capacity of approximately 24 million
tons.  Revenues for the twelve months ended September 30, 2015 were
$13.1 billion down from $17.5 billion for the twelve months ended
Dec. 31, 2014.

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



UNI-PIXEL INC: Closes Public Offering of Common Stock & Warrants
----------------------------------------------------------------
UniPixel, Inc., announced the closing on Nov. 30, 2015, of its
public sale of 9,625,871 units at a public offering price of $0.85
per Unit in a public offering resulting in gross proceeds to the
Company of $8.1 million.

Each Unit consists of one share of UniPixel common stock, par value
$0.001 per share and one warrant to purchase one share of Common
Stock at an exercise price of $1.50 per share, exercisable for a
period of five years from Nov. 30, 2015.

Roth Capital Partners acted as lead placement agent in the
Offering, with Ladenburg Thalmann & Co. Inc. serving as
co-placement agent under the terms of a placement agency agreement
entered into with Roth Capital Partners.

The warrants are not being separately listed for trading.

                       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.


VICTORIAN ORDER: Ontario SC Selects CBTL as Monitor
---------------------------------------------------
The Ontario Superior Court of Justice issued an initial order
appointing Collins Barrow Toronto Limited as monitor on the
business and financial affairs of Victorian Order of Nurses for
Canada et al.

A copy of the initial order and application record is available at
the monitor's website http://is.gd/EeREYy

For further information, contact:

   Collins Barrow Toronto Limited
   11 King Street West, Suite 700, PO Box 27
   Toronto, ON M5H 4C7
   Attn: Talib Contractor, CPA, CA
   Email: cbtlmonitor@collinsbarrow.com
   Tel: (647) 727.3581
   Fax: (416) 480-2646


VICTORY MEDICAL: Court Approves Patrick Magill as CRO
-----------------------------------------------------
Victory Medical Center Mid-Cities, LP and its debtor-affiliates
sought and obtained authorization from the U.S. Bankruptcy Court
for the Northern District of Texas to employ J. Patrick Magill as
chief restructuring officer effective September 1, 2015.

Mr. Magill's duties and responsibilities will be as follows:

   (a) to act as Debtors' CRO until further order of the Court;

   (b) to be a signatory on the DIP Operating Accounts;

   (c) to exercise authority to manage the business affairs of
       Debtors:

       -- to make all decisions regarding the hiring and firing of

          personnel;

       -- to make all decisions regarding the expenses incurred by

          Debtors, and the terms of disbursements made by Debtors
          for same;

       -- to manage the collection of accounts receivable;

   (d) to make all reasonable efforts to consult with all secured
       creditors, unsecured creditors, parties-in-interest, the US

       Trustee, and any committee of creditors appointed by the
       Court;

   (e) to make all reasonable efforts to assist bankruptcy counsel

       in amending and/or preparing schedules, statements of
       financial affairs, and monthly operating reports on a
       timely basis;

   (f) to investigate and pursue all available chapter 5 causes of

       action and non-chapter 5 causes of action against
       creditors, whether they be insiders or non-insiders,
       members and other potential defendants;

   (g) to cause Debtors to pay all UST Quarterly fees on a timely
       basis; and

   (h) to make all reasonable efforts to assist bankruptcy counsel

       in preparing and filing a plan and disclosure statement.

The compensation to be paid to Mr. Magill shall be a flat rate of
$30,000 per month payable semi-monthly in the amount of $15,000
through the payroll system. Mr. Magill shall not be required to
file a fee application.

Mr. Magill assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

                      About Victory Healthcare

Victory Parent Company, LLC, and 8 affiliated companies sought
Chapter 11 protection in Fort Worth, Texas (Bankr. N.D. Tex.) on
June 12, 2015, in Ft. Worth, Texas.

Headquartered in The Woodlands, Texas, Victory Parent Company
manages six medical centers in Texas.  Founded in 2005, Victory now
maintains medical centers offering emergency room services in
through Victory Medical Center Mid-Cities in Hurst, Victory Medical
Center Plano, Victory Medical Center Craig Ranch in McKinney, and
Victory Medical Center Landmark in San Antonio. The company also
manages its Victory Medical Center Beaumont and Houston-East, which
are not part of the Chapter 11 filing and will be sold separately.

The Debtors tapped Hoover Slovacek, LLP, as counsel; Epiq
Bankruptcy Solutions, LLC, as claims agent; and Baker, Donelson,
Bearman, Caldwell & Berkowitz, PC, as special counsel.


VICTORY MEDICAL: Hires Patrick Shields as Tax Accountant
--------------------------------------------------------
Victory Medical Center Mid-Cities, LP and its debtor-affiliates
seek authorization from the U.S. Bankruptcy Court for the Northern
District of Texas to employ Patrick C. Shields, PC as tax
accountant, effective November 1, 2015.

The Debtors request authority to employ Shields to assist with the
preparation and filing of 2014 Texas Franchise Tax returns and
other tax or accounting services as my be requested by the
Debtors.

Shields will be paid at these hourly rates:

       Patrick Shields, CPA           $250
       Jessica Hammock, CPA           $135
       Vanessa Miller, Tax Preparer   $125
       Kay Jackson, Bookkeeper        $100
       Marcela Evans, Bookkeeper      $70

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

Patrick C. Shields, president and sole shareholder of Shields,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtors and their
estates.

Shields can be reached at:

       Patrick C. Shields
       PATRICK C. SHIELDS, PC
       P.O. Box 947
       Fulshear, TX 77441
       Tel: (281) 346-1240
       Fax: (281) 346-2746
       E-mail: pat@pshields.com

                      About Victory Healthcare

Victory Parent Company, LLC, and 8 affiliated companies sought
Chapter 11 protection in Fort Worth, Texas (Bankr. N.D. Tex.) on
June 12, 2015, in Ft. Worth, Texas.

Headquartered in The Woodlands, Texas, Victory Parent Company
manages six medical centers in Texas.  Founded in 2005, Victory now
maintains medical centers offering emergency room services in
through Victory Medical Center Mid-Cities in Hurst, Victory Medical
Center Plano, Victory Medical Center Craig Ranch in McKinney, and
Victory Medical Center Landmark in San Antonio. The company also
manages its Victory Medical Center Beaumont and Houston-East, which
are not part of the Chapter 11 filing and will be sold separately.

The Debtors tapped Hoover Slovacek, LLP, as counsel; Epiq
Bankruptcy Solutions, LLC, as claims agent; and Baker, Donelson,
Bearman, Caldwell & Berkowitz, PC, as special counsel.


VICTORY MEDICAL: Hires Sullins & Johnston as Special Counsel
------------------------------------------------------------
Victory Medical Center Mid-Cities, LP and its debtor-affiliates
seek authorization from the U.S. Bankruptcy Court for the Northern
District of Texas to modify order granting the employment of
Sullins & Johnston, PC as special counsel.

Sullins and Johnston will perform their duties pursuant to the
Power of Attorney & Fee Contract for Provision of Limited Legal
Services and the 1st Supplement to Power of Attorney & Fee Contract
for Provision of Limited Legal Services entered into with the
Debtors.

The Contract calls for Sullins and Johnston to earn a contingent
fee ranging from 17% to 40% of all sums recovered depending on the
stage at which the recovery is made and whether Sullins and
Johnston have co-counsel.

Sullins & Johnston assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtors and their estates.

Sullins & Johnston can be reached at:

       SULLINS & JOHNSTON
       3200 Southwest Fwy
       Houston, TX 77027
       Tel: (713) 521-0221
       Fax: (713) 521-3242

                      About Victory Healthcare

Victory Parent Company, LLC, and 8 affiliated companies sought
Chapter 11 protection in Fort Worth, Texas (Bankr. N.D. Tex.) on
June 12, 2015, in Ft. Worth, Texas.

Headquartered in The Woodlands, Texas, Victory Parent Company
manages six medical centers in Texas.  Founded in 2005, Victory now
maintains medical centers offering emergency room services in
through Victory Medical Center Mid-Cities in Hurst, Victory Medical
Center Plano, Victory Medical Center Craig Ranch in McKinney, and
Victory Medical Center Landmark in San Antonio. The company also
manages its Victory Medical Center Beaumont and Houston-East, which
are not part of the Chapter 11 filing and will be sold separately.

The Debtors tapped Hoover Slovacek, LLP, as counsel; Epiq
Bankruptcy Solutions, LLC, as claims agent; and Baker, Donelson,
Bearman, Caldwell & Berkowitz, PC, as special counsel.


[*] Boeing Found to Breach Deposition Rules in AF Contract Row
--------------------------------------------------------------
Bryan Koenig at Bankruptcy Law360 reported that a special master
for discovery on Nov. 23, 2015, in Alabama federal court found
Boeing in violation of deposition guidelines in how it interviewed
a witness in a bankrupt aerospace contractor's $1.1 billion lawsuit
alleging Boeing reneged on a U.S. Air Force refueling tanker
contract.  AAI accuses Boeing of reneging on a 2005 agreement to
bid jointly on a contract to maintain the Air Force's KC-135 tanker
fleet.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Gregory David Pojani
   Bankr. D. Ariz. Case No. 15-14725
      Chapter 11 Petition filed November 18, 2015

In re Allan Andrew Copeland
   Bankr. C.D. Cal. Case No. 15-7668
      Chapter 11 Petition filed November 18, 2015
         Filed Pro Se

In re Macrina Garcia Atanasio-Maldonado and Roberto Andres
Maldonado-Quiroz
   Bankr. C.D. Cal. Case No. 15-27706
      Chapter 11 Petition filed November 18, 2015
         represented by: Anthony Obehi Egbase, Esq.
                         LAW OFFICES OF ANTHONY O EGBASE & ASSOC
                         E-mail: info@anthonyegbaselaw.com

In re Nishahomes IRA, LLC
   Bankr. E.D. Cal. Case No. 15-28962
      Chapter 11 Petition filed November 18, 2015
         Filed Pro Se

In re Curtis Arthur Jennings, III
   Bankr. S.D. Cal. Case No. 15-07380
      Chapter 11 Petition filed November 18, 2015
         filed Pro Se

In re Vimmi Handa
   Bankr. N.D. Ill. Case No. 15-39386
      Chapter 11 Petition filed November 18, 2015

In re Gregory B Myers
   Bankr. D. Md. Case No. 15-26033
      Chapter 11 Petition filed November 18, 2015

In re Joseph Allen Hartley and Rachel Kay Hartley
   Bankr. D. Neb. Case No. 15-81898
      Chapter 11 Petition filed November 18, 2015

In re SPOVERLOOK, LLC
   Bankr. D.N.M. Case No. 15-13018
      Chapter 11 Petition filed November 18, 2015
         See http://bankrupt.com/misc/nmb15-13018.pdf
         represented by: James T. Burns, Esq.
                         Albuquerque Business Law, P.C.
                         E-mail: james@abqbizlaw.com

In re Frank A. Lopa
   Bankr. E.D.N.Y. Case No. 15-45236
      Chapter 11 Petition filed November 18, 2015

In re Elmer H. Willey, Jr.
   Bankr. E.D. Penn. Case No. 15-18286
      Chapter 11 Petition filed November 18, 2015

In re Grace Gems Galleria, LLC
   Bankr. W.D. Penn. Case No. 15-24218
      Chapter 11 Petition filed November 18, 2015
         See http://bankrupt.com/misc/pawb15-24218.pdf
         represented by: Robert O Lampl, Esq.
                         E-mail: rol@lampllaw.com

In re Joseph Satira
   Bankr. W.D. Penn. Case No. 15-24221
      Chapter 11 Petition filed November 18, 2015

In re Exhibit Unlimited Inc.
   Bankr. D.P.R. Case No. 15-09142
      Chapter 11 Petition filed November 18, 2015
         See http://bankrupt.com/misc/prb15-09142.pdf
         represented by: Fausto David Godreau Zayas, Esq.
                         LATIMER, BIAGGI, RACHID & GODREAU LLP
                         E-mail: dgodreau@LBRGlaw.com

In re BDSP LLC
   Bankr. W.D. Wash. Case No. 15-16783
      Chapter 11 Petition filed November 18, 2015
         represented by: Thomas Mackin, Esq.
                         LAW OFFICE OF THOMAS A. MACKIN
                         E-mail: mackinthomas@hotmail.com

In re Adventure Bowl 2 LLC
   Bankr. W.D. Wash. Case No. 15-16784
      Chapter 11 Petition filed November 18, 2015
         represented by: Thomas Mackin, Esq.
                         LAW OFFICE OF THOMAS A. MACKIN
                         E-mail: mackinthomas@hotmail.com

In re Anthony Mannino and Madeline Ventura Mannino
   Bankr. D. Ariz. Case No. 15-14819
      Chapter 11 Petition filed November 19, 2015

In re Clyde Wilson Lane
   Bankr. C.D. Cal. Case No. 15-27766
      Chapter 11 Petition filed November 19, 2015

In re Yolanda Bumatay Mulato
   Bankr. N.D. Cal. Case No. 15-31444
      Chapter 11 Petition filed November 19, 2015

In re Felipe Feune de Colombi
   Bankr. S.D. Cal. Case No. 15-07425
      Chapter 11 Petition filed November 19, 2015

In re US Board Co LLC
   Bankr. M.D. Fla. Case No. 15-09760
      Chapter 11 Petition filed November 19, 2015
         See http://bankrupt.com/misc/flmb15-09760.pdf
         represented by: Jeffrey Ainsworth, Esq.
                         BRANSONLAW PLLC
                         E-mail: jeff@bransonlaw.com

In re Timothy Richard Moore and Heather Davis Moore
   Bankr. E.D.N.C. Case No. 15-06303
      Chapter 11 Petition filed November 19, 2015

In re Michael Patrick Crossan and Rowena Mohammad Crossan
   Bankr. W.D. Wash. Case No. 15-16823
      Chapter 11 Petition filed November 19, 2015

In re 4012, LLC
   Bankr. W.D. Wash. Case No. 15-16828
      Chapter 11 Petition filed November 19, 2015
         See http://bankrupt.com/misc/wawb15-16828.pdf
         represented by: James E. Dickmeyer, Esq.
                         LAW OFFICE OF JAMES E DICKMEYER PC
                         E-mail: jim@jdlaw.net

In re Washe, LLC, Debtor
   Bankr. C.D. Cal. Case No. 15-13835
      Chapter 11 Petition filed November 20, 2015
         See http://bankrupt.com/misc/cacb15-13835.pdf
         represented by: Ian Landsberg, Esq.
                         ECOFF LANDSBERG, LLP
                         E-mail: ilandsberg@landsberg-law.com

In re Robert Spaak and Valerie J Spaak
   Bankr. C.D. Cal. Case No. 15-21335
      Chapter 11 Petition filed November 20, 2015
         represented by: Michael G Spector, Esq.
                         LAW OFFICES OF MICHAEL G. SPECTOR
                         E-mail: mgspector@aol.com

In re NU WAY SANITATION INC.
   Bankr. W.D.N.Y. Case No. 15-12490
      Chapter 11 Petition filed November 20, 2015
         See http://bankrupt.com/misc/nywb15-12490.pdf
         represented by: Arthur G. Baumeister, Jr., Esq.
                         AMIGONE, SANCHEZ, ET AL
                         E-mail: abaumeister@amigonesanchez.com

In re Zeus Associates, LLC
   Bankr. S.D. Tex. Case No. 15-20455
      Chapter 11 Petition filed November 20, 2015
         See http://bankrupt.com/misc/txsb15-20455.pdf
         represented by: Ralph Perez, Esq.
                         CAVADA LAW OFFICE
                         E-mail: ralph.perez@cavadalawoffice.com

In re Paul Anthony Lobianco And Sandra Daugherty Lobianco
   Bankr. M.D. Tenn. Case No. 15-08423
      Chapter 11 Petition filed November 20, 2015

In re Ty Fox LLC
   Bankr. E.D. Penn. Case No. 15-18397
      Chapter 11 Petition filed November 21, 2015
         See http://bankrupt.com/misc/paeb15-18397.pdf
         represented by: Demetrios Tsarouhis, Esq.
                         TSAROUHIS LAW GROUP
                         E-mail: tsarouhis@hotmail.com

In re Lisa Mauro
   Bankr. S.D.N.Y. Case No. 15-23683
      Chapter 11 Petition filed November 22, 2015

In re Flora By Arquetipo Inc
   Bankr. D.P.R. Case No. 15-09240
      Chapter 11 Petition filed November 22, 2015
         See http://bankrupt.com/misc/prb15-09240.pdf
         represented by: Hector Eduardo Pedrosa, Esq.
                         THE LAW OFFICES OF HECTOR EDUARDO PEDROSA
                         E-mail: hectorpedrosa@gmail.com

In re Mark John Brennan
   Bankr. D. Md. Case No. 15-26239
      Chapter 11 Petition filed November 23, 2015

In re Carlmac-McKinnon's, Inc.
   Bankr. D. Mass. Case No. 15-14530
      Chapter 11 Petition filed November 23, 2015
         See http://bankrupt.com/misc/mab15-14530.pdf
         represented by: Nina M. Parker, Esq.
                         PARKER & ASSOCIATES
                         E-mail: nparker@ninaparker.com

In re The Challah Fairy, Inc.
   Bankr. S.D.N.Y. Case No. 15-23686
      Chapter 11 Petition filed November 23, 2015
         See http://bankrupt.com/misc/nysb15-23686.pdf
         represented by: Harvey S. Barr, Esq.
                         BARR, POST & ASSOCIATES
                         E-mail: info@bplegalteam.com
In re Hannah Fischer
   Bankr. S.D.N.Y. Case No. 15-23687
      Chapter 11 Petition filed November 23, 2015

In re Robin Greer Graham
   Bankr. S.D. Fla. Case No. 15-30571
      Chapter 11 Petition filed November 24, 2015
In re Debra Marie Guajardo
   Bankr. N.D. Cal. Case No. 15-31452
      Chapter 11 Petition filed November 23, 2015

In re Emad Ayyad
   Bankr. N.D. Cal. Case No. 15-53689
      Chapter 11 Petition filed November 23, 2015

In re Gail Balmer Roumell
   Bankr. N.D. Cal. Case No. 15-31470
      Chapter 11 Petition filed November 24, 2015
         represented by: Andy C. Warshaw, Esq.
                         FINANCIAL RELIEF LAW CENTER
                         E-mail: awarshaw@bwlawcenter.com

In re Sultan Realty Management
   Bankr. D. Conn. Case No. 15-51634
      Chapter 11 Petition filed November 24, 2015
         filed Pro Se

In re Jeff Howard Sage and Sandi Lea Sage
   Bankr. M.D. Fla. Case No. 15-05154
      Chapter 11 Petition filed November 24, 2015

In re Frank R Severino
   Bankr. S.D. Fla. Case No. 15-30637
      Chapter 11 Petition filed November 24, 2015

In re Paul Gremillion, Sr.
   Bankr. E.D. La. Case No. 15-13063
      Chapter 11 Petition filed November 24, 2015

In re Stephen Louis Thiel and Lisa Holbrook Thiel
   Bankr. E.D. Mich. Case No. 15-57132
      Chapter 11 Petition filed November 24, 2015

In re Gary Cohen
   Bankr. S.D.N.Y. Case No. 15-23689
      Chapter 11 Petition filed November 24, 2015

In re Michael Robert Dunn
   Bankr. N.D. Ala. Case No. 15-71914
      Chapter 11 Petition filed November 25, 2015

In re Jesus Rafael Cruz Rodriguez and Beatriz Quivoy Cruz
   Bankr. D. Ariz. Case No. 15-15071
      Chapter 11 Petition filed November 25, 2015

In re Mark Allan Pierce and Corinne Fay Pierce
   Bankr. C.D. Cal. Case No. 15-12332
      Chapter 11 Petition filed November 25, 2015
         filed Pro Se

In re Cheryl May Kelmar
   Bankr. C.D. Cal. Case No. 15-12336
      Chapter 11 Petition filed November 25, 2015
         represented by: Michael Jay Berger, Esq.
                         E-mail:
michael.berger@bankruptcypower.com

In re Lightning Bolt Leasing, LLC
   Bankr. M.D. Fla. Case No. 15-05173
      Chapter 11 Petition filed November 25, 2015
         See http://bankrupt.com/misc/flmb15-05173.pdf
         represented by: Robert D Wilcox, Esq.
                         WILCOX LAW FIRM
                         E-mail: rw@wlflaw.com

In re Reece Tent Rental, LLC
   Bankr. N.D. Ga. Case No. 15-72660
      Chapter 11 Petition filed November 25, 2015
         See http://bankrupt.com/misc/ganb15-72660.pdf
         represented by: Edward F. Danowitz, Jr., Esq.
                         Danowitz & Associates, P.C.
                         E-mail: edanowitz@danowitzlegal.com

In re Green Grease Environmental
   Bankr. N.D. Ill. Case No. 15-40236
      Chapter 11 Petition filed November 25, 2015
         See http://bankrupt.com/misc/ilnb15-40236.pdf
         represented by: Jonathan D. Golding, Esq.
                         The Golding Law Offices, P.C.
                         E-mail: jgolding@goldinglaw.net

In re Maury D. Kommor
   Bankr. W.D. Ky. Case No. 15-33786
      Chapter 11 Petition filed November 25, 2015

In re Washington Estates, LLC
   Bankr. D.N.J. Case No. 15-32271
      Chapter 11 Petition filed November 25, 2015
         See http://bankrupt.com/misc/njb15-32271.pdf
         represented by: Christopher Roy Higgins, Esq.
                         LAW OFFICE OF CHRISTOPHER R. HIGGINS
                         E-mail: christopher@higginslawnj.com

In re Luis Angel Ramon Mejias and Damayanti Moreno Rosado
   Bankr. D.P.R. Case No. 15-09349
      Chapter 11 Petition filed November 25, 2015

In re Augusto's Cuisine Corporation
   Bankr. D.P.R. Case No. 15-09390
      Chapter 11 Petition filed November 25, 2015
         See http://bankrupt.com/misc/prb15-09390.pdf
         represented by: Alexis Fuentes Hernandez, Esq.
                         FUENTES LAW OFFICES, LLC
                         E-mail: alex@fuentes-law.com

In re Best Guard Security Corp.
   Bankr. D.P.R. Case No. 15-09405
      Chapter 11 Petition filed November 25, 2015
         See http://bankrupt.com/misc/prb15-09405.pdf
         represented by: Carmen D Conde Torres, Esq.
                         D. CONDE & ASSOC.
                         E-mail: notices@condelaw.com

In re Camp Mountain Lake, Inc.
   Bankr. E.D. Tenn. Case No. 15-15192
      Chapter 11 Petition filed November 25, 2015
         See http://bankrupt.com/misc/tneb15-15192.pdf
         represented by: Robert S. Peters, Esq.
                         SWAFFORD, PETERS, PRIEST & HALL
                         E-mail: dfloyd@spphlaw.com



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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.

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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
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re-mailing and photocopying) is strictly prohibited without prior
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The TCR subscription rate is $975 for 6 months delivered via
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are $25 each.  For subscription information, contact Peter A.
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