TCR_Public/151223.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, December 23, 2015, Vol. 19, No. 357

                            Headlines

29 BROOKLYN: Must Pay $72K to Receiver, Court Rules
AKOUSTIS TECHNOLOGIES: Discloses Net Loss, Going Concern Doubt
ALEXZA PHARMACEUTICALS: Fails to Regain Nasdaq Listing Compliance
ALLONHILL LLC: Court Confirms Ch. 11 Reorganization Plan
ALLONHILL LLC: SLS Claim Estimated at $675K for Voting Purposes

AMERICAN AIRLINES: Unions Gearing Up for Fight Over Stock
AMERICAN EAGLE: Can Continue Using Cash Collateral Through Dec. 30
ANTIOCH CO: 6th Cir. Certifies Question of Law to Ohio High Court
ARCHDIOCESE OF SAINT PAUL: Sets Dec. 28 Auction for Property
ART AND ARCHITECTURE: AERC Allowed to Commence Alleyway Demolition

ATLANTIC & PACIFIC: Sells Store Lease to CVS for $4.6-Mil.
ATLANTIC & PACIFIC: UBP Provides Update on Asset Acquisition
ATLANTIC CITY, NJ: Borgata Asks Judge to Order City to Refund Taxes
BERNARD L. MADOFF: 2nd Circ. Won't Revive Masons' Feeder Fund Suit
BERNARD L. MADOFF: Judge Approves Payout for Legal Fees

BOOMERANG SYSTEMS: Seeks Until March 15 to Decide on Leases
BRANTLEY LAND: Trustee Resolves Disputes With State Bank
BREF HR: PIK Interest Payment, et al., Raise Going Concern Doubt
CAESARS ENTERTAINMENT: Lenders Object to UCC's Standing Motion
COLT DEFENSE: Court Confirms Ch. 11 Reorganization Plan

CONTRAVIR PHARMACEUTICALS: Posts Net Loss, Has Going Concern Doubt
COYNE INTERNATIONAL: Has Until Jan. 26 to File Chapter 11 Plan
CUBIC ENERGY: January 5 Final Hearing on Trading Procedures
D&D ASSOC: Court Awards Defense Costs in Favor of Epstein
DIEBOLD INC: Moody's Assigns Ba3 First-Time Corp. Family Rating

ENCLAVE AT BOYNTON: Proposes Substantive Consolidation
ENERGY FUTURE: Claimants' Motion for Class Certification Denied
ENERGY FUTURE: Court Approves Greenberg Traurig as Special Counsel
ENERPULSE TECHNOLOGIES: Posts Net Loss, Raises Going Concern Doubt
EXTENWAY SOLUTIONS: Files Under BIA, Has DIP Financing

GENERAL MOTORS: UAW's Bid to Dismiss Former Workers' Suit Granted
HYDRA INDUSTRIES: Going Concern Doubt Exists, CEO Says
KAUPTHING HF: Jan. 4 Hearing on Motion for Permanent Relief
LEHMAN BROTHERS: Banks, Hedge Funds Seek $20M for Legal Fees
LONESTAR GEOPHYSICAL: Proposes FIFC Premium Finance Agreement

LONESTAR GEOPHYSICAL: Seeks Access to Cash Collateral Until Feb. 29
MECKLERMEDIA INC: To Commence Liquidation & Dissolution
MEDBOX INC: Discloses Going Concern Doubt, Need to Raise Capital
MEDICAL TRANSCRIPTION: Debt Renewal Raises Going Concern Doubt
METRO-GOLDWYN-MAYER: Moody's Retains CFR on UAMG Stake Acquisition

MIDWAY GOLD: Sale of 30% Stake in Spring Valley Completed
MILLENNIUM HEALTH: Completes Restructuring, Exits Chapter 11
MOKO SOCIAL: Receives Nasdaq Listing Non-Compliance Notice
NEMUS BIOSCIENCE: Going Concern Doubt Exists, Says Management
NEWARK WATERSHED: Former Head Pleads Guilty

ORLANDO GATEWAY: Creditors' New Plan Mulls Reorganization or Sale
ORLANDO GATEWAY: Good and SEG Say Debtors' Plan Unconfirmable
ORLANDO GATEWAY: Mediation Results to Joint Plan by Creditors
OVERLAND PARK: Fitch Affirms 'BB' Rating on $62.685MM Bonds
PATRIOT COAL: Wants Authority to Enter LPT Transactions

PICO HOLDINGS: Eric Speron Named to Board; Julie Sullivan Resigns
PRESSURE BIOSCIENCES: Inadequate Capital Casts Going Concern Doubt
QUICKSILVER RESOURCES: Gets Approval to Pay Terminated Workers
RIDGECREST VILLAGE: Fitch Lowers Rating on Refunding Bonds to BB+
RIDGEWOOD REALTY: Court Denies Bid to Revoke Confirmation Order

ROI LAND: Cumulative Losses Raise Going Concern Doubt
ROTHSTEIN ROSENFELDT: Florida Banker Gets Prison Time
SAMUEL E. WYLY: Appeals Court Allows Freezing Some Family Assets
SHAW COMMUNICATIONS: S&P Puts 'BB' Global Rating on Watch Neg.
SKYSTAR BIO-PHARMACEUTICAL: Nasdaq Decides to Delist Shares

SMART MODULAR: Moody's Cuts Corporate Family Rating to Caa1
STRATA ENERGY: Seeks U.S. Recognition of Canadian Proceeding
SYMBID CORP: Recurring Losses Raise Going Concern Doubt
URBAN DISCOVERY: S&P Affirms BB Rating on 2014 Bonds, Outlook Neg.
WALTER ENERGY: Court OKs Deal on Collective Bargaining Agreement

WIRECO WORLDGROUP: S&P Revises Outlook to Neg. & Affirms 'B' CCR
YELLOWSTONE MOUNTAIN: Former Developer Tries to Get Out of Jail
ZLOOP INC: Proposes to Sell 7 Utility Trailers
[*] Jonathan Koevary Joins Olshan's Bankruptcy & Financial Practice
[*] Mark Hootnick Joins Millstein's Corporate Restructuring Team

[*] U.S. Helps Shaky Colleges Cope with Bad Student Loans
[*] U.S. House Passes Military Bankruptcy-Relief Bill

                            *********

29 BROOKLYN: Must Pay $72K to Receiver, Court Rules
---------------------------------------------------
29 Brooklyn Avenue, LLC, filed a motion seeking stay pending appeal
of an order requiring it to pay $72,449 to Receiver Stephen R.
Chesley.

The Debtor argues that it will suffer irreparable harm without a
stay, because it will be required to incur the expense and nuisance
of transferring funds that the Debtor believes will ultimately be
refunded. The Debtor also argues that the District Court may see
the transfer of funds as mooting the appeal or be left with the
impression that the Receiver's claim is valid, since his Proof of
Claim has been paid.

Judge Carla E. Craig of the United States Bankruptcy Court for the
Eastern District of New York denied the Debtor's application for a
stay pending appeal.

Judge Craig held that the Debtor's application for a stay pending
appeal is so lacking in merit that it may fairly be described as
frivolous, and the Debtor's conduct following the Court's
determination of the merits of the objections to the Proof of Claim
was dilatory.  The public interest is not served by granting a stay
in the cited circumstances, Judge Craig held.

The case is In re 29 Brooklyn Avenue LLC, Chapter 11, Debtor, Case
No. 12-40279-CEC (Bankr. E.D.N.Y.).

A full-text copy of the Decision dated December 11, 2015 is
available athttp://is.gd/dJUQnvfrom Leagle.com

29 Brooklyn Avenue, LLC, Debtor, represented by David Carlebach,
Esq. -- The Carlebach Law Group.

29 Brooklyn Avenue, LLC, sought protection under Chapter 11 of the
Bankruptcy Code on Jan. 18, 2012 (Bankr. E.D.N.Y., Case No.
12-40279).  The case is assigned to Judge Joel B. Rosenthal.  The
Debtor's counsel is David Carlebach, Esq., in New York.


AKOUSTIS TECHNOLOGIES: Discloses Net Loss, Going Concern Doubt
--------------------------------------------------------------
Akoustis Technologies, Inc.'s net loss was $1,068,532 for the three
months ended September 30, 2015, an increase of $920,226 or 620%,
compared with a net loss of $148,306 for the three months ended
September 30, 2014.  The increase was primarily due the company
recording higher costs in its second year in the areas of R&D and
G&A salary and wages due to the ramp up of headcount, material and
material processing due to increased R&D activity and professional
fees, mainly legal and accounting, explained Cindy C. Payne, chief
financial officer of the company, in a regulatory filing with the
U.S. Securities and Exchange Commission on November 12, 2015.

Ms. Payne noted, "As of September 30, 2015, the company had a
working capital of $3,091,156 and an accumulated deficit of
$2,337,178.  The company has not generated any revenues from
operations and incurred net losses since inception.  As of
September 30, 2015, the company had cash and cash equivalents of
$3,414,421. There is no assurance that the company's projections
and estimates are accurate.  In the event that the company does not
receive anticipated proceeds from research grants or such grant
payments are delayed, or the company experiences costs in excess of
estimates to continue its research and development plan, it is
possible that the Company would not have sufficient resources to
continue as a going concern for the next year.  In order to
mitigate these risks, the company is actively managing and
controlling the company's cash outflows.

"These matters raise substantial doubt about the company's ability
to continue as a going concern."  

Ms. Payne further noted, "The company's primary sources of
operating funds since inception have been private equity, note
financings and grants.  The Company intends to raise additional
capital through private debt and equity investors.  The company
needs to raise additional capital in order to be able to accomplish
its business plan objectives. The company is continuing its efforts
to secure additional funds through debt or equity instruments and
grants.

"Management believes that it will be successful in obtaining
additional financing based on its history of raising funds;
however, no assurance can be provided that the company will be able
to do so.  There is no assurance that any funds it raises will be
sufficient to enable the company to attain profitable operations or
continue as a going concern.  To the extent that the company is
unsuccessful, the company may need to curtail or cease its
operations and implement a plan to extend payables or reduce
overhead until sufficient additional capital is raised to support
further operations.  There can be no assurance that such a plan
will be successful."

At Sept. 30, 2015, the company had total assets of $3,713,842,
total liabilities of $569,016, and stockholders' equity of
$3,144,826.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/hun3wyr

Akoustis Technologies, Inc. is an early-stage company that designs
and manufactures filters enabling the radio frequency (RF)
front-end of mobile wireless devices like smartphones.  The company
maintains its headquarters in Huntersville, North Carolina.


ALEXZA PHARMACEUTICALS: Fails to Regain Nasdaq Listing Compliance
-----------------------------------------------------------------
Alexza Pharmaceuticals, Inc. on Dec. 22 disclosed that on December
17, 2015, the Company received a letter from the Nasdaq Staff
indicating that the Company had not regained compliance with the
$35 million market capitalization requirement for continued listing
on The Nasdaq Capital Market by the end of the previously granted
compliance period, which expired on December 16, 2015.  As a
result, the Company would be subject to delisting unless it timely
requests a hearing before a Nasdaq Listing Qualifications Panel.
Based on the foregoing, the Company intends to timely request a
hearing before the Panel at which it will present its plan of
compliance and request a further extension of time.  The Panel has
the discretion to grant the Company up to an additional 180
calendar days from
December 17, 2015 to regain compliance.  This request will
automatically stay any delisting or suspension action pending the
issuance of a final decision by the Panel and the expiration of any
further extension granted by the Panel.  There can be no assurance
that the Panel will ultimately grant an extension of the compliance
period.

               About Alexza Pharmaceuticals, Inc.

Alexza Pharmaceuticals is focused on the research, development, and
commercialization of novel, proprietary products for the acute
treatment of central nervous system conditions.  Alexza's products
and development pipeline are based on the Staccato(R) system, a
hand-held inhaler designed to deliver a pure drug aerosol to the
deep lung, providing rapid systemic delivery and therapeutic onset,
in a simple, non-invasive manner.  Active pipeline product
candidates include AZ-002 (Staccato alprazolam) for the management
of epilepsy in patients with acute repetitive seizures and AZ-007
(Staccato zaleplon) for the treatment of patients with middle of
the night insomnia.


ALLONHILL LLC: Court Confirms Ch. 11 Reorganization Plan
--------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on Dec. 17, 2015, confirmed Allonhill, LLC's Third Amended
Plan of Reorganization after determining that the Plan satisfies
the requirements for confirmation set forth in Sections 1129(a) and
(b) of the Bankruptcy Code.

Judge Gross overruled all objections to the Plan, including the
objection raised by Stewart Lender Services, Inc., which
complained, among other things, that the Plan strips SLS of a
valuable property right in the SLS Escrow, the Plan discharges all
claims against Allonhill even though it is an entity and is not
reorganizing, and the Plan provides sweeping third-party releases
that do not satisfy the requiremnets for obtaining those releases.

In support of confirmation of the Plan, the Debtor maintained that
the Plan permits the litigation with Aurora, FSB, to proceed to a
final, non-appealable judgment, while preserving the Debtor's
assets to be distributed to all holders of Allowed Claims and
interests in a fair and equitable manner.  The Plan, according to
the Debtor, preserves the Debtor's rights under the SLS APA, as
well as the Debtor's right to investigate and pursue avoidance
actions.  The Debtor asserted that a stipulation resolves the
issues raised by SLS.

Prior to the confirmation hearing, the Debtor filed supplements to
the Plan, including the Estimate of Excess Cash, Reorganized Debtor
Withdrawal Notice, and the Schedule of Executory Contracts.
Full-text copies of the Plan Supplements are available at
http://bankrupt.com/misc/ALLONHILLplansupp1207.pdf

The Debtors are represented by:

         Neil B. Glassman, Esq.
         Justin R. Alberto, Esq.
         Evan T. Miller, Esq.
         BAYARD, P.A.
         222 Delaware Avenue, Suite 900
         Wilmington, DE 19801
         Tel: (302) 655-5000
         Fax: (302) 658-6395
         E-mail: nglassman@bayardlaw.com
                 jalberto@bayardlaw.com
                 emiller@bayardlaw.com

            -- and --

         Peter A. Ivanick, Esq.
         Lynn Holbert, Esq.
         HOGAN LOVELLS US LLP
         875 Third Avenue
         New York, NY 10022
         Tel: (212) 918-3000
         Fax: (212) 918-3100
         E-mail: peter.ivanick@hoganlovells.com
                 lynn.holbert@hoganlovells.com

SLS is represented by:

         Kevin J. Mangan, Esq.
         WOMBLE CARLYLE SANDRIDGE & RICE, LLP
         222 Delaware Avenue, Ste. 1501
         Wilmington, DE 19801
         Tel: (302) 252-4361
         Fax: (302) 661-7729
         E-mail: kmangan@wcsr.com

            -- and --

         W. Steven Bryant, Esq.
         LOCKE LORD LLP
         2800 JPMorgan Chase Tower
         600 Travis Street, Ste. 2800
         Houston, TX 77002
         Tel: (713) 226-1200
         Fax: (713) 223-3717

                        About Allonhill

Allonhill LLC, a professional services firm based in Denver,
Colorado, that previously provided loan due diligence and credit
risk management services for institutions that invest in, sell,
securitize or service mortgage loans, sought protection under
Chapter 11 of the Bankruptcy Code on March 26, 2014.  The case is
In re Allonhill, LLC, Case No. 14-bk-10663 (Bankr. D. Del.).

The Debtor's general counsel is Hogan Lovells US LLP.  The
Debtor's
local counsel is Neil B. Glassman, Esq., Justin R. Alberto, Esq.,
and Evan T. Miller, Esq., at Bayard, P.A., in Wilmington,
Delaware.
Upshot Services LLC serves as the Debtor's claims and noticing
agent.

The Debtor disclosed $19,205,062 in assets and $32,918,294 in
liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the
Bankruptcy Court that she was unable to appoint an official
committee of unsecured creditors.

Allonhill filed a Chapter 11 Plan of Reorganization and
accompanying disclosure statement following the sale of
substantially all of its assets to Stewart Lender Services, Inc.


ALLONHILL LLC: SLS Claim Estimated at $675K for Voting Purposes
---------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware signed an agreed order estimating the claim of Stewart
Lender Services, Inc., in the Chapter 11 case of Allonhill, LLC.

SLS will be entitled pursuant to Rule 3018 of the Federal Rules of
Bankruptcy Procedure to vote its claim in the amount of $675,474,
and the claim is allowed in that amount solely for the purpose of
voting on the Debtor's Third Amended Chapter 11 Plan of
Reorganization.  The Claim asserted by SLS in Claim No. 17 will
remain subject to determination, estimation or objection for
purposes of allowance as an Allowed Claim under the Plan.

In response to the Debtor's request to estimate SLS's claim, SLS
told the Court that it does not wish to engage in a potentially
lengthy estimation proceeding at this time and instead asked that
the Court allow its claim for voting purposes at $675,474 -- an
amount for which no legitimate dispute exists.

SLS is represented by:

         Kevin J. Mangan, Esq.
         WOMBLE CARLYLE SANDRIDGE & RICE, LLP
         222 Delaware Avenue, Ste. 1501
         Wilmington, DE 19801
         Tel: (302) 252-4361
         Fax: (302) 661-7729
         E-mail: kmangan@wcsr.com

            -- and --

         W. Steven Bryant, Esq.
         LOCKE LORD LLP
         2800 JPMorgan Chase Tower
         600 Travis Street, Ste. 2800
         Houston, TX 77002
         Tel: (713) 226-1200
         Fax: (713) 223-3717

                        About Allonhill

Allonhill LLC, a professional services firm based in Denver,
Colorado, that previously provided loan due diligence and credit
risk management services for institutions that invest in, sell,
securitize or service mortgage loans, sought protection under
Chapter 11 of the Bankruptcy Code on March 26, 2014.  The case is
In re Allonhill, LLC, Case No. 14-bk-10663 (Bankr. D. Del.).

The Debtor's general counsel is Hogan Lovells US LLP.  The
Debtor's
local counsel is Neil B. Glassman, Esq., Justin R. Alberto, Esq.,
and Evan T. Miller, Esq., at Bayard, P.A., in Wilmington,
Delaware.
Upshot Services LLC serves as the Debtor's claims and noticing
agent.

The Debtor disclosed $19,205,062 in assets and $32,918,294 in
liabilities as of the Chapter 11 filing.

Roberta A. DeAngelis, U.S. Trustee for Region 3, notified the
Bankruptcy Court that she was unable to appoint an official
committee of unsecured creditors.

Allonhill filed a Chapter 11 Plan of Reorganization and
accompanying disclosure statement following the sale of
substantially all of its assets to Stewart Lender Services, Inc.


AMERICAN AIRLINES: Unions Gearing Up for Fight Over Stock
---------------------------------------------------------
Peg Brickley, writing for The Wall Street Journal, reported that
trouble is brewing again in the bankruptcy case of an American
Airlines Group Inc. predecessor as unions representing the
company's workers say they are in danger of being shortchanged,
while shareholders of the old AMR Corp. get another generous
payoff.

According to the report, hundreds of millions of dollars of
valuable stock is still stored up in bankruptcy reserve accounts,
waiting for a final reckoning of the accounts from the 2011
bankruptcy of AMR, parent of American Airlines.  AMR is paying off
its bankruptcy debts with shares of new American Airline stock, the
report related.

The shares have soared in value since December 2013, when AMR
emerged from bankruptcy protection and merged with US Airways Group
Inc., the report said.  The Journal, citing court papers, further
related that investors in the old equity received more than $9.5
billion of new American shares in the four months following AMR's
bankruptcy exit.

Unions representing pilots, flight attendants and other workers of
AMR Corp. say they are being asked to take a haircut when the
remaining stock is handed out while investors in the old equity get
more than their fair share, the report added.

                   About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.

AMR, previously the world's largest airline prior to mergers by
other airlines, is the last of the so-called U.S. legacy airlines
to seek court protection from creditors.

American Airlines, American Eagle and the AmericanConnection
carrier serve 260 airports in more than 50 countries and
territories with, on average, more than 3,300 daily flights.  The
combined network fleet numbers more than 900 aircraft.

The Company reported a net loss of $884 million on $18.02 billion
of total operating revenues for the nine months ended Sept. 30,
2011.  AMR recorded a net loss of $471 million in the year 2010, a

net loss of $1.5 billion in 2009, and a net loss of $2.1 billion in
2008.

AMR's balance sheet at Sept. 30, 2011, showed $24.72 billion
in total assets, $29.55 billion in total liabilities, and a
$4.83 billion stockholders' deficit.

Weil, Gotshal & Manges LLP serves as bankruptcy counsel to the
Debtors.  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, are on board as special counsel.  Rothschild
Inc., is the financial advisor.   Garden City Group Inc. is the
claims and notice agent.

Jack Butler, Esq., John Lyons, Esq., Felecia Perlman, Esq., and
Jay Goffman, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP
serve as counsel to the Official Committee of Unsecured Creditors
in AMR's chapter 11 proceedings.  Togut, Segal & Segal LLP is the
co-counsel for conflicts and other matters; Moelis & Company LLC
is the investment banker, and Mesirow Financial Consulting, LLC,
is the financial advisor.


AMERICAN EAGLE: Can Continue Using Cash Collateral Through Dec. 30
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado issued a
second final order authorizing American Eagle Energy Corporation
and AMZG, Inc., to (i) use cash collateral pursuant to a budget;
and (ii) provide adequate protection to secured parties pursuant to
Sec. 361, 362, and 363 of the Bankruptcy Code.

If the Second Final Order has not been extended by 5:00 p.m.
(Prevailing Mountain Time) on Dec. 30, 2015, the Debtors will be
prohibited, without the necessity of further Court order, from
using cash collateral under the terms of the Second Final Order.

Judge Howard R. Tallman also denied USG Properties Bakken I, LLC's
motion to reconsider the second cash collateral order because USG
has alleged the existence of no factual disputes that require an
evidentiary hearing and because those factual matters necessary to
the disposition of this Motion are apparent from materials
evidentiary hearing is not necessary.

As of the Petition Date, the Debtors were indebted and liable to
the secured parties under the Prepetition Notes Documents with
SunTrust Bank, as administrative agent and issuing bank, and
SunTrust Robinson Humphrey, Inc., as book-runner and sole lead
arranger, in the aggregate amount of not less: (i) $175,000,000 in
aggregate principal amount; (ii) all accrued and unpaid interest;
and (iii) additional amounts owed under the Prepetition Notes
Documents.

The Debtors would use the cash collateral to continue to operate
their oil exploration and production business and properties.

As adequate protection from any diminution in value of the lender's
collateral, the Debtors will grant the secured parties replacement
liens, superpriority administrative claim status, subject to carve
out on certain expenses, and adequate protection payment.

The Ad Hoc Group is represented by:

         Paul N. Silverstein, Esq.
         ANDREWS KURTH LLP
         450 Lexington Avenue
         New York, NY 10017
         Tel: (212) 850-2800
         Fax: (212) 850-2929
         E-mail: paulsilverstein@andrewskurth.com

         Timothy A. Davidson II, Esq.
         ANDREWS KURTH LLP
         600 Travis, Suite 4200
         Houston, TX 77002
         Tel: (713) 220-4200
         Fax: (713) 220-4285
         E-mail: TDavidson@andrewskurth.com

         John F. Young, Esq.
         James T. Markus, Esq.
         MARKUS WILLIAMS YOUNG & ZIMMERMAN LLC
         1700 Lincoln Street, Suite 4550
         Denver, CO 80203
         Tel: (303) 830-0800
         Fax: (303) 830-0809
         E-mail: jyoung@markuswilliams.com
                 jmarkus@markuswilliams.com

                         Noteholders Reply

Bennett Management Corporation, Aristeia Capital, LLC, Kayne
Anderson Capital Advisors, L.P., and Northeast Investors Trust
(collectively, the Ad Hoc Noteholders Group) objects to USG
Properties Bakken I, LLC's motion to reconsider and modify Second
Final Order.

James T. Markus, Esq., of Markus Williams Young & Zimmerman LLC,
states that the Motion must be denied because USG presents no valid
grounds for reconsideration of the Second CCO.  The Motion presents
no intervening change in controlling law or clear error.  Moreover,
there is no new evidence available to USG that was not available
when the Second CCO was approved.  

On Nov. 4, 2015, two days prior to approval of the Second CCO, the
Debtors filed their Complaint and Emergency Motion for Temporary
Restraining Order against Power Energy Partners LP (PEP).  At that
time, USG knew or should have known that PEP did not pay the
Debtors for oil it purchased from the Debtors in September 2015 and
would not be doing so for oil purchased in October 2015.  Contrary
to the implication in the Motion, the statement from the Nov. 6
hearing does not contain any objection to the adequate protection
payments authorized by the Second CCO.

The Motion must be denied because USG is not entitled to an
administrative claim against the Debtors for the amounts referenced
in the Motion. USG does not even attempt to -- because it cannot --
establish that it holds an administrative claim against the Debtors
for which the Debtors would need to provide adequate assurance of
payment.  The JOA is clear that the Debtors are not liable to USG
for the amounts referenced in the Motion.

                       About American Eagle

Littleton, Colorado-based American Eagle Energy Corporation is
engaged in the acquisition, exploration and development of oil and
gas properties.  The Company is primarily focused on extracting
proved oil reserves from those properties.

American Eagle Energy Corporation and its wholly-owned subsidiary,
AMZG, Inc., filed on May 8, 2015, voluntary petitions (Bankr. D.
Colo., Case No. 15-15073).  The case is assigned to Judge Howard R.
Tallman.  The Debtors are represented by Elizabeth A. Green, Esq.,
at Baker & Hostetler LLP, in Orlando, Florida.

On May 13, 2015, Judge Tallman granted the Debtors' request for
joint administration.

American Eagle Energy disclosed total assets of $21,980,687 and
total liabilities of $193,604,113 as of the Chapter 11 filing.

The U.S. Trustee for Region 6 appointed seven creditors to serve on
the Official Committee of Unsecured Creditor.  The Committee tapped
Pachulski Stang Ziehl & Jones LLP as counsel, and Conway Mackenzie
as financial advisor.


ANTIOCH CO: 6th Cir. Certifies Question of Law to Ohio High Court
-----------------------------------------------------------------
The United States Court of Appeals for the Sixth Circuit granted
the motion filed by The Antioch Company Litigation Trust to certify
a question of law, and reserved its decision with respect to part
of the Trust's appeal until after the Supreme Court of Ohio either
answers or declines to answer the separately certified question of
state law.

An adversary proceeding was brought by the Trust against a number
of former directors, officers, trustees, and professionals,
asserting claims that were transferred to it by the bankruptcy
court's order confirming the plan of reorganization of The Antioch
Company and related affiliates.

The Trust challenged several of the district court's orders but
only to the extent that those orders granted summary judgment to
defendants Lee Morgan, Asha Morgan Moran, and five trusts
established by Lee Morgan.

The 6th Circuit affirmed the district court's orders granting
partial summary judgment to the defendants on the claims for
equitable subordination and with respect to the state law claims
arising out of the failed efforts to sell the company during 2007
and 2008.

However, the appellate court reserved its decision with respect to
the district court's order granting partial summary judgment to
defendants on claims for breach of fiduciary duty in connection
with the tender offer transaction that closed December 16, 2003.
On this regard, the 6th Circuit granted the Trust's motion to
certify to the Supreme Court of Ohio the question of law: "Will
Ohio law apply the doctrine of adverse domination to toll the
statute of limitations provided by Ohio Rev. Code Section 2305.09
for a claim of breach of fiduciary duty brought against a director
or officer of an Ohio corporation?"

The case is ANTIOCH COMPANY LITIGATION TRUST, W. Timothy Miller,
Trustee, Plaintiff-Appellant, v. LEE MORGAN; ASHA MORGAN MORAN; LEE
MORGAN GDOT TRUST #1; LEE MORGAN GDOT TRUST #2; LEE MORGAN GDOT
TRUST #3; LEE MORGAN POUROVER TRUST #1; LEE MORGAN POUROVER TRUST
#2; Defendants-Appellees, and CHANDRA ATTIKEN, et al., Defendants,
NO. 14-3790 (6th Cir.).

A full-text copy of the 6th Circuit's December 2, 2015 ruling is
available at http://is.gd/wE6EeGfrom Leagle.com.

                  About The Antioch Company

St. Cloud, Minn.-based scrapbook company The Antioch Company and
six affiliates filed for Chapter 11 bankruptcy (Bankr. D. Minn.
Case No. 13-41898) in Minneapolis on April 16, 2013.  Antioch
disclosed $10 million to $50 million in both assets and debts.

The affiliates that separate filed for Chapter 11 are Antioch
International-Canada LLC, Antioch International LLC, zeBlooms LLC,
Antioch Framers Supply LLC, Antioch International-New Zealand LLC,
and Creative Memories Puerto Rico, LLC.

Founded in 1926, Antioch and its affiliates make up one of the
world's preeminent suppliers of scrapbooks, related accessories,
and photo solutions for memory preservation through the direct
sales channel.  The Debtors also go by business names Creative
Memories, Antioch, Agenda, Antioch Publishing, Cottage Arts, Frame
of Mind and Webway.

Antioch has 200 employees and currently has operations through the
Debtor companies and foreign subsidiaries in the United States,
Canada, Japan, Australia, and New Zealand. In 2012, the Company's
net revenue was approximately $93.8 million and it had a net loss
of $3.7 million.

Antioch previously sought bankruptcy protection in 2008 (Bankr.
S.D. Ohio Case No. 08-35741).

In the 2013 case, the U.S. Trustee appointed a seven-member
creditors committee.  Faegre Baker Daniels LLP serves as its
counsel.  Crowe Horwath LLP serves as its financial advisor.

The Antioch Company, et al., and the Official Committee of
Unsecured Creditors, obtained confirmation on Nov. 14, 2013, of
their Second Amended Joint Plan of Reorganization dated Nov. 13,
2013.


ARCHDIOCESE OF SAINT PAUL: Sets Dec. 28 Auction for Property
------------------------------------------------------------
The Archdiocese of Saint Paul and Minneapolis sought and obtained
from Judge Robert J. Kressel of the U.S. Bankruptcy Court for the
District of Minnesota approval of the bid procedures and form asset
purchase agreement with regard to the auction sale of the
Archdiocese's property located at 328 Kellogg Boulevard West in St.
Paul, Minnesota.

Judge Kressel scheduled the auction for Dec. 28, 2015 at 10:00
a.m., and the sale hearing for Jan. 7, 2016.  Judge Kressel
likewise set Dec. 29, 2015, as the deadline for the filing of
objections to the conduct or result of the auction, and Dec. 31,
2015 as the deadline for the filing of objections to the approval
of the sale of the property.

The Archdiocese was authorized to conduct an auction for the sale
of the real property and improvements, together with the office
building known as the Hayden Center and all improvements, and
easements, rights, privileges and other hereditaments and
appurtenances.

The Archdiocese related that the Hayden Center was valued for
purposes of its schedules at $2,442,800 based upon the
Archdiocese's review of Ramsey County public record, which reflects
the estimated market value of the Property for tax purposes.  The
Archdiocese further related that its schedules also referenced a
June 2013 Cushman analysis which provided an estimated value of the
Property of between $5,000,000.00 to $7,000,000 and that its
schedules also disclosed that the Hayden. It added that it has
proposed procedures that will permit other parties to submit bids
for the Property and will ultimately maximize the value of the
Hayden Center.

The Archdiocese related that NorthMarq Real Estate Services, LLC
d/b/a Cushman Wakefield ("Cushman"), its retained broker, received
a letter of intent for the purchase of the Hayden Center from the
Minnesota Historical Society ("MHS").  It further related that
after further arms-length negotiations, the Archdiocese entered
into a Purchase Agreement with MHS, with the objective of utilizing
a competitive auction process in order to maximize the sale price
of the Hayden Center.  The Archdiocese believed that MHS has the
ability to close the sale of the Hayden Center property.

The MHS Purchase Agreement contemplates, among others, the
following:

   (a) A purchase price of $4,500,000, subject to higher and better
bids, with an earnest money deposit requirement of $50,000.

   (b) A contingency receipt of completion of a rezoning process or
receipt of a conditional use permit ("CUP") to permit the property
to continue to be used by the MHS for office purposes.

   (c) Certain restrictions on the use of the Property to conform
with the requirements of Canon Law and to reflect the fact that the
Hayden Center has been identified with the Archdiocese by reason of
its prior use as a Catholic school and its long and continued
ownership and use by the Archdiocese.

   (d) That the Archdiocese and the MHS, or an alternative bidder
for the Property, will enter into a lease for an initial term of
one year, after which time the lease will revert to a
month-to-month tenancy. The lease will require payment of base
monthly rent in the net amount of $17,000.00., with rent to accrue
as of February 1, 2016, and payment by the Archdiocese of operating
expenses with respect to the premises. The lease also provides for
payment to the landlord of the net proceeds received
by the tenant under an operating agreement for parking for events
at the Xcel Center.

The Archdiocese related that it estimates that its parking
arrangement for Xcel events will generate proceeds of between
$14,000 and $17,000 for the period from the beginning of March to
the end of June 2016.  The Archdiocese further related that the
lease also provides for shared parking by the MHS and the
Archdiocese during the term of the lease and for use of the parking
lot by the organizers of the "Red Bull Crashed Ice" event in
February 2016.

The Sale Procedures contain, among others, the following relevant
terms:

   (a) Any party making a bid must use the form of the proposed MHS
Purchase Agreement.

   (b) Bid Deadline: Dec. 21, 2015.

   (c) A potential bidder's bid must be in an amount not less than
$75,000 greater than the initial bid.

   (d) Initial Bid: MHS is the initial bidder for the property.
MHS' bid is in the amount of $4,500,000, and is subject to higher
and better bids.

The Archdiocese of Saint Paul and Minneapolis is represented by:

          Richard D. Anderson, Esq.
          Charles B. Rogers, Esq.
          Benjamin E. Gurstelle, Esq.
          BRIGGS AND MORGAN, P.A.
          2200 IDS Center
          80 South 8th Street
          Minneapolis, MN 55402
          Telephone: (612)977-8400
          Facsimile: (612)977-8650
          E-mail: randerson@briggs.com
                  crogers@briggs.com
                  bgurstelle@briggs.com

               About The Archdiocese of Saint Paul

The Archdiocese of Saint Paul and Minneapolis was originally
established by the Vatican in 1850 and serves a geographical area
consisting of 12 greater Twin Cities metro-area counties in
Minnesota, including Ramsey, Hennepin, Anoka, Carver, Chisago,
Dakota, Goodhue, Le Sueur, Rice, Scott, Washington, and Wright
counties.  There are 187 parishes and approximately 825,000
Catholic individuals in the region.  These individuals and
parishes are served by 3999 priests and 173 deacons.

The Archdiocese of St. Paul and Minneapolis filed for Chapter 11
protection (Bankr. D. Minn. Case No. 15-30125) in Minnesota on Jan.
16, 2015, saying it has large and growing liabilities related to
child sexual abuse and that its pension obligations are
underfunded.

The Debtor disclosed $45,203,010 in assets and $15,890,460 in
liabilities as of the Chapter 11 filing.

The Debtor has tapped Briggs and Morgan, P.A., as Chapter 11
counsel; BGA Management LLC d/b/a Alliance Management as financial
advisor; Lindquist & Vennum LLP as attorney.

Eleven other dioceses have commenced Chapter 11 bankruptcy cases in
the United States to settle claims from current and former
parishioners who say they were sexually molested by priests.

U.S. Trustee for Region 12 appointed five creditors to serve on the
official committee of unsecured creditors.

The U.S. Trustee appointed five creditors to serve on the Committee
of Parish Creditors.  Ginny Dwyer appointed as the acting
chairperson of the committee until such time as the members can
meet and officially elect their own person.


ART AND ARCHITECTURE: AERC Allowed to Commence Alleyway Demolition
------------------------------------------------------------------
In an Order and Preliminary Injunction dated November 6, 2015,
which is available at http://is.gd/pOZS81from Leagle.com, Judge
Robert N. Kwan of the United States Bankruptcy Court for the
Central District of California, Los Angeles Division, having
considered AERC Desmond's Tower, LLC's motion for relief from the
automatic stay, granted the motion in part and denied in part
according to the terms of the tentative ruling and the mitigation
measures agreed upon by the parties on the record at the November
6, 2015 hearing, which include the parties' agreement that AERC
Desmond's Tower, LLC may commence alleyway demolition and
construction as of November 9, 2015, regardless of the date on
which the Order is entered.

The case is In re: ART AND ARCHITECTURE BOOKS OF THE 21ST CENTURY,
dba ACE GALLERY, Chapter 11, Debtor ART AND ARCHITECTURE BOOKS OF
THE 21ST CENTURY, dba ACE GALLERY, Plaintiff, v. AERC DESMOND'S
TOWER, LLC; a Delaware limited liability company, Defendant AND
RELATED COUNTERCLAIMS, CASE NO. 2:13-BK-14135-RK, ADVERSARY NO.
2:13-AP-01747-RK.

Art and Architecture Books of the 21st Century, Plaintiff,
represented by Ron Bender, Esq -- rb@lnbyb.com -- Levene, Neale,
Bender, Yoo & Brill L.L.P, Krikor J Meshefejian, Esq --
km@lnbyb.com -- Levene, Neale, Bender, Yoo & Brill L.L.P, Kurt
Ramlo, Esq -- kr@lnbyb.com -- Levene, Neale, Bender, Yoo & Brill
L.L.P, Beth Ann R Young, Esq. -- by@lnbyb.com -- Levene, Neale,
Bender, Yoo & Brill L.L.P, Carol Chow, Esq. --
Carol.Chow@ffslaw.com -- Freeman, Freeman & Smiley, LLP.

AERC DESMONDS TOWER, LLC, a Delaware limited liability company,
Defendant, represented by Sidney P Levinson, Esq. --
slevinson@jonesday.com -- Jones Day, Danielle A Pham, Esq. --
Gordon Silver, Michael C Schneidereit, Esq. --
mschneidereit@jonesday.com -- Jones Day.

Art and Architecture Books of the 21st Century, dba Ace Gallery,
filed for a voluntary Chapter 11 petition on Feb. 19, 2013, in the
U.S. Bankruptcy Court for the Central District of California, Case
No. 13-14135.  The petition was signed by Douglas Chrismas,
president.  Judge Robert Kwan presides over the case.  Joseph A.
Eisenberg, Esq., at Jeffer Mangels Butler & Mitchell LLP, serves
as counsel.  The Debtor reported $1 million to $10 million in
assets and $10 million to $50 million in debts.


ATLANTIC & PACIFIC: Sells Store Lease to CVS for $4.6-Mil.
----------------------------------------------------------
A&P Real Property LLC has sold its right, title and interest under
a lease agreement to CVS Pharmacy Inc. and CVS Albany LLC.

The pharmaceutical and drug companies made a $4.575 million offer
to purchase A&P's right, title and interest under the lease
agreement with RLJ Group LLC.

A&P and the buyers signed the deal following a two-day auction held
in October where the latter emerged as the winning bidder, court
filings show.

A&P, an affiliate of Great Atlantic & Pacific Tea Company Inc., had
leased space from RLJ Group where it operated a retail store under
the A&P name.  The store is located at 1233 Nepperham Avenue,
Yonkers, New York.  

The sale was approved by U.S. Bankruptcy Judge Robert Drain who
oversees A&P's Chapter 11 case.  

In October, Judge Drain approved the sale of pharmaceutical assets
at 74 stores operated by Great Atlantic.

The company sold its prescription drug inventory and other
pharmaceutical assets at its 58 stores to CVS Albany and its
affiliates for more than $34 million.

Meanwhile, a group of companies that includes Eckerd Corp. and Rite
Aid of New Jersey Inc. acquired Great Atlantic's pharmaceutical
assets at its 16 stores for more than $9 million, court filings
show.

       About The Great Atlantic & Pacific Tea Company, Inc.

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

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

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

The Debtor disclosed total assets of $601,441,108 and total
liabilities of $1,984,459,086 as of the Petition Date.

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

The U.S. Trustee for Region 2 appointed seven creditors to serve on
the official committee of unsecured creditors.  Pachulski Stang
Ziehl & Jones LLP serves as its counsel, and Zolfo Cooper, LLC, as
serves as its financial advisors and bankruptcy consultants.


ATLANTIC & PACIFIC: UBP Provides Update on Asset Acquisition
------------------------------------------------------------
Urstadt Biddle Properties Inc., a real estate investment trust, on
Dec. 18 announced its fourth quarter and full year financial
results for the fiscal year ended October 31, 2015.  The company
also announced an increase in the quarterly dividend rate on its
Common and Class A Common stock.

Diluted funds from operations ("FFO") for the quarter ended October
31, 2015 amounted to $9,678,000 or $0.28 per Class A Common share
and $0.25 per Common share compared with $8,049,000 or $0.26 per
Class A Common share and $0.23 per Common share in last year's
fourth quarter.  For the year ended October 31, 2015, diluted FFO
amounted to $38,056,000 or $1.12 per Class A Common share and $0.99
per Common share compared with $33,032,000 or $1.06 per Class A
Common share and $0.95 per Common share in fiscal 2014.  The FFO
amounts above include significant non-recurring items in fiscal
2015 and 2014.  In an effort to assist investors in analyzing
changes to FFO, we have included a second FFO reconciliation table
at the end of this report which explains the effect of these
non-recurring items on the company's diluted FFO.  After removing
these non-recurring items our adjusted diluted FFO for the three
month period ended October 31, 2015 was $9,726,000 or $0.29 per
diluted Class A Common share and $0.25 per diluted Common share
compared with $10,109,000 or $0.32 per diluted Class A Common share
and $0.29 per diluted Common share in last year's fourth quarter.
Our adjusted (recurring) FFO for the year ended October 31, 2015
was $40,392,000 or $1.19 per diluted Class A Common share and $1.05
per diluted Common share compared with $35,568,000 or $1.15 per
diluted Class A Common share and $1.02 per diluted Common share in
fiscal 2014.

Net income applicable to Class A Common and Common stockholders for
the quarter ended October 31, 2015 amounted to $23,995,000 or $0.70
per diluted Class A Common share and $0.62 per diluted Common share
compared with $27,019,000 or $0.87 per diluted Class A Common share
and $0.77 per diluted Common share in last year's fourth quarter.
For the year ended October 31, 2015, net income applicable to Class
A Common and Common stockholders was $34,659,000 or $1.02 per
diluted Class A Common share and $0.90 per diluted Common share
compared to $49,469,000 or $1.59 per diluted Class A Common share
and $1.42 per diluted Common share in fiscal 2014.

The per share amounts for net income in fiscal 2015 reflect the
sale of the company's Meriden, CT property from which it realized a
gain on sale of properties in the amount of $20.0 million.  The per
share amounts for net income in fiscal 2014 reflect the sale of the
company's Springfield, MA property from which it realized a gain on
sale of property in the amount of $24.3 million and the sale of the
company's two non-core properties from which it realized a gain on
sale of properties in the amount of $12.5 million.  In addition,
the per share amounts for both FFO and net income in fiscal 2015
and 2014 include one-time property acquisition costs of $2.1
million and $666,000, respectively.  The acquisition costs of $2.1
million in fiscal 2015 were incurred primarily from the company's
purchase of four retail properties in New Jersey in December 2014
for $124.6 million (exclusive of the acquisition related expenses).
In addition, the per share amounts for both FFO and net income
include the dilutive effect of the issuance of 3 million shares of
a new Series G preferred stock and 2.875 million shares of Class A
Common stock in follow-on public offerings.  The Series G preferred
stock was issued in October and early November 2014 and the Class A
Common stock was issued in early November 2014.  The preferred
stock offering raised $72.6 million of which $61.5 million was used
to redeem the company's Series D preferred stock on November 21,
2014.  The balance of the Series G preferred stock proceeds, along
with $59.8 million of proceeds raised in the Class A Common stock
offering, was used to fund a portion of the $124.6 million purchase
price of the four New Jersey retail properties.  As a result of
issuing the Series G preferred stock a month before the Series D
could be redeemed, the company incurred $268,000 in preferred stock
dividends in fiscal 2015 that will not be recurring.

At October 31, 2015, the company's consolidated core properties
were 95.8% leased (versus 94.8% at the end of fiscal 2014) and
95.0% occupied (versus 94.2% at the end of fiscal 2014).  The above
percentages exclude the company's unconsolidated joint ventures and
the company's White Plains property.  In November 2014, the company
obtained a zoning change from the City of White Plains to convert
this property to a higher and better use and the company is in
contract to sell the property. The company is maintaining vacancies
at this property to conform to certain closing conditions of the
sale.  At October 31, 2015, the company had equity interests in
seven unconsolidated joint ventures (745,000 square feet), which
were approximately 98.1% leased (97.7% at October 31, 2014).

Commenting on the quarter's operating results, Willing L. Biddle,
President and CEO of UBP, said "We continue to have strong
operating results, despite the company having largely vacated our
Westchester Pavilion property in order to ready it for sale. We
hope to soon complete this sale, enabling us to redeploy the
proceeds into grocery anchored shopping centers in our core
marketplace, which we expect will further improve our operating
results.  On the leasing front, the leased rate of our core and
joint venture portfolios continues to strengthen and there is
strong tenant interest in a large portion of our remaining
vacancies. Our improving lease rate continues to have a direct
effect on our earnings and FFO.  We continue to focus on growing
our portfolio of quality properties located in the suburbs
surrounding New York City.  In fiscal 2015 we were able to acquire
six grocery or pharmacy anchored shopping centers in our core
marketplace.  In addition to four centers in northern New Jersey
that we purchased in our first quarter, we acquired two additional
properties in our third and fourth quarters.  One property, which
we acquired for $4 million, is a 7,000 square foot property located
in Fort Lee, NJ net leased to HMART, a NY area Korean supermarket
chain.  The other property, which we acquired for $10 million, is a
26,000 square foot shopping center located close to the Harrison,
NY Metro North train station.  The Harrison property's anchor
tenant at the time of our acquisition was A&P which was in
bankruptcy.  Since our acquisition, Key Food Stores purchased A&P's
lease as expected and we are now actively working with Key Food on
a coordinated renovation of the property and its new store."

Mr. Biddle continued, "The A&P bankruptcy in July has been a major
focus of ours in the past few months.  UBP had eight A&P leases in
its portfolio at the time of their bankruptcy and nine leases after
the purchase of the Harrison shopping center.  Of the nine A&P
leases, five have been acquired directly from A&P by either ACME or
Key Food.  Of the remaining four locations, UBP was the successful
bidder in a bankruptcy court lease auction for two locations.  Our
goal was to recapture below market leases with store fixtures so
that we could potentially rent them to other supermarket operators
at higher rents.  We are actively marketing for lease both stores
that we acquired and the two stores that remain in A&P's
possession.  In connection with ACME's purchase of A&P's location
in Eastchester, NY, we were able to negotiate a rent increase in
exchange for providing the tenant future options to extend the
lease.  While we expect UBP will potentially receive rent increases
in some locations and potentially need to offer rent concessions in
other locations, we believe the overall outcome of the A&P
bankruptcy will be a net positive for UBP and will result in an
increase in net income and an improvement in the quality of the
supermarket anchor in the affected centers leading to improved
customer counts at those centers.  One negative of the A&P
bankruptcy for the company was that we were forced to write off
about $313,000 in billed rents for two of the A&P leases in our
portfolio that were not assumed by new operators.  This was the
main factor for the increase in our provision for tenant credit
losses in fiscal 2015 when compared with fiscal 2014.

On the dispositions front, we completed the sale of our Townline
Square shopping center in Meriden, CT in the fourth quarter of
fiscal 2015.  The sale of Townline Square achieves the objective we
set approximately two years ago to divest certain properties that
were located outside of the New York Metro area.  Over the past two
years, we have sold our warehouse properties in Dallas and St.
Louis, our shopping center in Springfield, MA and now our shopping
center in Meriden, CT.  The proceeds have been used to buy shopping
centers in Pompton Lakes, Wyckoff, Kinnelon, Midland Park, and Ft.
Lee, NJ, Greenwich, CT and Harrison, NY and also to reduce debt.
We now have a portfolio almost exclusively located in the suburbs
around New York City with an occupancy rate of 96% and a leverage
level that continues to be among the lowest in the REIT industry.
In addition, in the fourth quarter the company acted on its board
approved stock repurchase program and repurchased 188,753 shares of
the company's Class A Common stock at an average price of $17.79
per share.  We felt that price was a large discount to what we
believe to be the fair value of the stock and the purchase
represented a 6.7% return on our 2015 recurring FFO per share."

UBP Announces an Increase in Dividends to its Shareholders for the
Twenty-Second Consecutive Year

At their regular December meeting, the company's Directors approved
an increase in the quarterly dividend rate on shares of the
company's Class A Common stock and Common stock.  The quarterly
dividend rate declared for Class A Common stock was increased to
$0.26 per share and the quarterly dividend rate declared for Common
stock was increased to $0.23 per Common share, which represents an
annualized increase of $0.02 per share for the both classes of
common stock.  The $0.02 dividend increase on both the Class A
Common stock and Common stock represents the twenty-second
consecutive year that the company has increased total dividends to
its shareholders.  The Class A Common and Common dividends are
payable January 15, 2016 to stockholders of record on January 5,
2016.

Urstadt Biddle Properties Inc. is a self-administered equity real
estate investment trust which owns or has equity interests in 74
properties containing approximately 4.9 million square feet of
space.  Listed on the New York Stock Exchange since 1970, it
provides investors with a means of participating in ownership of
income-producing properties.  It has paid 183 consecutive quarters
of uninterrupted dividends to its shareholders since its inception
and has raised total dividends to its shareholders for the last 22
consecutive years.

       About The Great Atlantic & Pacific Tea Company, Inc.

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

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

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

The Debtor disclosed total assets of $601,441,108 and total
liabilities of $1,984,459,086 as of the Petition Date.

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

The U.S. Trustee for Region 2 appointed seven creditors to serve on
the official committee of unsecured creditors.  Pachulski Stang
Ziehl & Jones LLP serves as its counsel, and Zolfo Cooper, LLC, as
serves as its financial advisors and bankruptcy consultants.


ATLANTIC CITY, NJ: Borgata Asks Judge to Order City to Refund Taxes
-------------------------------------------------------------------
Wayne Parry, writing for The Associated Press, reported that the
Borgata casino asked a judge on Dec. 21 to order Atlantic City to
pay more than $62 million in tax refunds that the court has already
determined the casino should get -- a move that could end in
seizure of some of the seaside gambling resort's assets or even
bankruptcy.

According to the report, the city missed a Dec. 20 deadline to pay
the refunds, which were ordered by a tax court that found the city
has assessed the casino's property at too high a level given
Atlantic City's declining gambling market.

Atlantic City Mayor Don Guardian has said that the city can't
afford to pay that all at once and that the city could be forced
into bankruptcy if it is ordered to do so, the report related.

Joe Lupo, the Borgata's senior vice president, said that including
refunds already ordered for other tax years, Atlantic City owes the
casino more than $150 million, the report further related.

                   *     *     *

The Troubled Company Reporter, on Dec. 15, 2015, reported that
Moody's Investors Service has affirmed the City of Atlantic City,
NJ's General Obligation rating of Caa1.  The outlook remains
negative.  Concurrently, Moody's has affirmed the B2 rating on
Atlantic City Municipal Utilities Authority's (MUA)
city-guaranteed
$7.5 million water revenue bonds.

The TCR, on the same date, reported that Moody's Investors Service
has affirmed the B2 rating Atlantic City
Municipal Utilities Authority's (NJ) net water revenue debt.  The
outlook remains negative.


BERNARD L. MADOFF: 2nd Circ. Won't Revive Masons' Feeder Fund Suit
------------------------------------------------------------------
Ed Beeson at Bankruptcy Law30 reported that the Second Circuit on
Dec. 15, 2015, refused to restart a lawsuit against Meridian
Capital Partners Inc. over losses suffered in Bernard Madoff's
Ponzi scheme, saying the district court was correct to quash the
claim by a Pennsylvania Masonic lodge because it hadn't shown the
investment manager knew about the fraud.  In a summary order, a
three-judge panel said the district court did not err when it found
that The R.W. Grand Lodge of Free and Accepted Masons of
Pennsylvania had not met its pleading burdens.

                    About Bernard L. Madoff

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

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

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

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

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


BERNARD L. MADOFF: Judge Approves Payout for Legal Fees
-------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that a bankruptcy judge authorized a multimillion-dollar
payout to the two dozen law firms working to recover the more than
$17 billion Bernard Madoff stole from investors, including more
than $37 million for the lead lawyers.

According to the report, Judge Stuart M. Bernstein of the U.S.
Bankruptcy Court in Manhattan authorized the latest payout of
professional fees to Irving Picard, the trustee overseeing the
liquidation of Mr. Madoff's investment firm, and his colleagues at
Baker & Hostetler.  They've been leading the case since December
2008, the report related.

                     About Bernard L. Madoff

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

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

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

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

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


BOOMERANG SYSTEMS: Seeks Until March 15 to Decide on Leases
-----------------------------------------------------------
Boomerang Systems, Inc., et al., ask the United States Bankruptcy
Court for the District of Delaware for a 90-day extension through
and including March 15, 2016, of the deadline by which they must
decide whether to assume or reject unexpired leases of
nonresidential real property.

The Debtors are party to five unexpired leases of nonresidential
real property.  The Debtors tell the Court that they have not yet
determined at this time whether to assume or reject three of these
unexpired leases.

The Debtors relate that they have not yet evaluated whether it
would be profitable for the estates to assume and assign the
Unexpired Leases or whether rejection is preferred.  The Debtors
are contemplating a sale of the estate assets or a plan of
reorganization, and the Unexpired Leases could be valuable for
these efforts.  If, however, the Debtors are unable to attract
purchasers of its assets or does not go forward with a plan, the
Unexpired Leases must be rejected, the Debtors say.  Nothing would
be gained by requiring the Debtors to prematurely assume or reject
the Unexpired Leases.

The extension will afford the Debtors a meaningful opportunity to
make an informed determination regarding the assumption or
rejection of the Unexpired Leases as contemplated by chapter 11 and
will ensure that the Debtors do not lose the opportunity to assume
or reject any other nonresidential real property leases, of which
it may currently not be aware, the Debtors assert.

The Debtors are represented by:

         Daniel K. Astin, Esq.
         John D. McLaughlin, Esq.
         Joseph J. McMahon, Jr., Esq.
         1204 N. King Street
         Wilmington, DE 19801
         Phone: (302) 658-1100
         Fax: (302) 658-1300
         Email: dastin@ciardilaw.com
                jmclaughlin@ciardilaw.com
                jmcmahon@ciardilaw.com

            -- and –-

         Jeffrey R. Gleit, Esq.
         SULLIVAN & WORCESTER LLP
         1633 Broadway
         New York, NY 10119
         Phone: (212) 660-3043
         Fax: (212) 660-3001
         Email: jgleit@sandw.com

                     About Boomerang Systems

Headquartered in Morristown, New Jersey, Boomerang Systems, Inc.
(OTCMKTS: BMER) through its wholly owned subsidiary, Boomerang
Utah, is engaged in the design, development, and marketing of
automated racking and retrieval systems for automobile parking and
automated racking and retrieval of containerized self-storage
units.

As of March 31, 2015, the Company had $6 million in total assets,
$19.5 million in total liabilities, and a $13.5 million total
stockholders' deficit.

Boomerang Systems, Inc., and three affiliates sought Chapter 11
protection (Bankr. D. Del. Lead Case No. 15-11729) on Aug. 18,
2015.

The Company has engaged the law firms of Togut, Segal & Segal LLP
as general bankruptcy counsel, Ciardi, Ciardi & Astin as local
bankruptcy counsel, and Garden City Group, LLC, as claims and
noticing agent.  In addition, the Company has retained the law
firm
Berg & Androphy, which filed a lawsuit on Aug. 18, 2015 in the
Southern District of New York against the Company's defaulting
lender.

The Company's official committee of unsecured creditors is
composed
of three members: AV Excellence LLC, Xaplos Inc. and Quay
Consulting.  On Nov. 18, 2015, Quay Consulting replaced HERE
Lawrence Property Owner LLC, which was appointed by the Office of
the U.S. Trustee on Sept. 3, 2015.


BRANTLEY LAND: Trustee Resolves Disputes With State Bank
--------------------------------------------------------
R. Michael Souther, the Chapter 11 Trustee of Brantley Land &
Timber Company, LLC, on Dec. 16, 2015, entered into a settlement
agreement with prepetition secured creditor State Bank and Trust
Company, which settlement provides for a dismissal of the bank's
bid to dismiss the Debtor's bankruptcy case.

The Debtor and State Bank previously had agreed upon an Interim
Consent Order Authorizing use of Cash Collateral.  The Debtor has
been operating under the terms of that agreement with State Bank
receiving payments in the amount of $5,000 per month on the first
of each month.

On Aug. 17, 2015, the Debtor filed a Motion to Use Cash Collateral
of State Bank & Trust Company.  The motion was continued and prior
to the entry of the Cash Collateral Consent Order, State Bank filed
an Objection and Withdrawal of Consent to Use of Cash Collateral on
Nov. 5, which objection is pending.

On Oct. 1, 2015, the attorneys for the Debtor filed applications
for compensation to which State Bank objected on Nov. 5, 2015,
which applications are pending.

State Bank filed a Motion to Dismiss and Motion for Relief from
Stay on Nov. 9, 2015, which matter is pending.

                     The Settlement Agreement

According to Mr. Souther, there have been changes in circumstances
which allow the parties to reassess goals and obligations as to the
other in the creditor/debtor relationship, and to reach an
agreement.  In consideration of the payment by Debtor of $250,000
to State Bank to be applied toward the debt owing to it, the Bank
will, upon entry of a final Order of the Court approving this
compromise and settlement, and upon receipt of those funds:

   (1) relinquish its under-secured claim/position in this case by
surrendering all of its collateral to the Debtor by and through the
execution of all necessary quitclaim deeds, releases, cancellations
and/or assignments to be prepared by or on behalf of the Chapter 11
Trustee, to include the cancellation of the security deed held by
it and identified as the Deed to Secure Debt and Security Agreement
from Brantley Land to Security Bank recorded on May 4, 2007 in Deed
Book 403, Folio 77 – 100 with assignments of promissory notes and
deeds to secure debt from buyers recorded beginning in Deed Book
403, Page 101 through Deed Book 472, Page 255 in the Office of the
Clerk of the Superior Court of Brantley County, Georgia, and any
further collateral documents held by it related Debtor that may
hereafter be discovered; State Bank has now satisfied its
obligations under its Loss Share Agreement with the FDIC.

   (2) amend its claim #3 to convert its claim to a general
unsecured claim;

   (3) dismiss its Motion to Dismiss Case or in the Alternative for
Relief from the Automatic Stay;

   (4) dismiss its Objection and Withdrawal of Consent to Debtor's
Use of Cash Collateral;

   (5) dismiss its Objection to the First Application for
Attorneys' Fees by Debtor's counsel;

   (6) waive any objections to an Agreement or the confirmation of
a Chapter 11 Plan whereby the Debtor elects to abandon/quitclaim
all of its interests in any roadways, access easements, or wetlands
to include any redemption rights titled in Debtor to Brantley
County, the Tax Commissioner of Brantley County or any other party
approved by the Court either by motion and/or by the terms of a
confirmed Chapter 11 Plan or otherwise;

   (7) agrees to waive any objections to the abandonment or release
of any rights of redemption held by Debtor with respect to any ad
valorem tax sales or quiet title actions that have been, will, or
may be conducted by the Brantley County Tax Commissioner or other
governmental body either by motion and/or by the terms of a
confirmed Chapter 11 Plan or otherwise with respect to real
property which rights the Debtor intends to release or quitclaim to
the Brantley County Tax Commissioner or other appropriate
governmental body;

  (8) agrees to waive any objections to the intended abandonment or
release by Debtor of any rights or entitlements held by any parties
as to any lands of Debtor located in Brantley County, Georgia, with
respect to roads, access, water or riparian rights either by motion
and/or by the terms of a confirmed Chapter 11 Plan or otherwise;

   (9) release Debtor from the July 5, 2011 judgment State Bank
holds against Debtor and others but explicitly retaining its
judgment against Rodney A. Cobb, Daniel A. Dukes, and Victor C.
Smith; provided however, the said release shall not affect the
unsecured claim of State Bank for the entire amount owing to it as
of the petition date by Debtor to it (less post-petition payments
made by Debtor);

  (10) waives any objections it may have to the continued
possession and use by Debtor/Debtor-in-Possession of any and all
assets transferred, indirectly or directly to
Debtor/Debtor-in-possession under the auspices of the Chapter 11
Trustee or under the terms of a confirmed plan, or other approval
by the Bankruptcy Court;

  (11) will provide Debtor the name of a contact(s) with the State
Bank with whom authority is vested to execute documents as may be
necessary to fulfill the terms of this Agreement as may be approved
by the Bankruptcy Court; and

  (12) and, except as stated otherwise, the rights of State Bank as
an unsecured creditor in the case are not affected.

                       About Brantley Land

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

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

Brantley Land filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Ga. Case No. 15-20584) in Brunswick, Georgia, on July 16, 2015.
Jerry W. Harper, receiver, signed the petition.  The Debtor, under
the control of the receiver, tapped McCallar Law Firm as counsel.

Following the Chapter 11 filing, the Court appointed R. Michael
Souther as Chapter 11 Trustee.


BREF HR: PIK Interest Payment, et al., Raise Going Concern Doubt
----------------------------------------------------------------
BREF HR, LLC noted uncertainties, including a PIK payment, that
raise substantial doubt about its ability to continue as a going
concern, Andrea Balkan, authorized representative of the company,
said in a regulatory filing with the U.S. Securities and Exchange
Commission dated November 12, 2015.  

"Over the past three years we have incurred substantial net
losses," Ms. Balkan said.  For the nine months ended September 30,
2015 the company's net loss was $88.3 million, and as of September
30, 2015 its net members' deficit was $391.7 million.  For the
three months ended September 30, 2015, the company incurred a net
loss of $31,929,000, compared to a net loss of $28,361,000 for the
same period in 2014.  At September 30, 2015, the company had total
assets of $581,583,000, total liabilities of $973,273,000, and
total members' deficit of $391,690,000.

According to Ms. Balkan, the real estate financing facility
(Amended Facility) allows the company to accrue 'paid-in-kind'
interest ('PIK interest'), representing the difference between
interest accruing under the Amended Facility and the amounts paid.
The outstanding PIK interest as of September 30, 2015 was $79.8
million.  The PIK interest outstanding as of March 1, 2014 in the
amount of $44.3 million became due and payable on March 3, 2014, as
the operating performance of the company did not meet a specified
debt yield threshold for the twelve month period ending March 1,
2014.  However, the lender entered into a Forbearance Agreement
effective as of March 1, 2014, pursuant to which it agreed not to
exercise any rights or remedies with respect to the PIK interest.
The lender entered into a series of amendments to the Forbearance
Agreement which each time extended the effective date to which the
lender agreed it would not exercise any rights or remedies with
respect to the PIK interest. The most recent amendment to the
Forbearance Agreement, the Nineteenth Amendment, is effective as of
October 20, 2015, pursuant to which the lender agreed not to
exercise any rights or remedies with respect to the PIK interest
until November 24, 2015.  

Ms. Balkan stated, "Currently, the company does not have sufficient
funds to satisfy a demand for the PIK interest payment on November
24, 2015.  The company is currently assessing its options to
satisfy the PIK interest payment obligation, including, but not
limited to, negotiating a waiver of this requirement from the
lender, selling off a portion of existing collateral or attempting
to obtain borrowings from other sources.  

"The company's ability to continue as a going concern is dependent
upon its ability to restructure its indebtedness, obtain
alternative financing on acceptable terms, obtain approval from the
lender to use available cash reserves to satisfy a portion of this
potential obligation, or a combination thereof.  However, there is
no certainty on the outcome.  We have placed mortgages on our hotel
casino property to secure our indebtedness.  

"In the event the PIK interest is not paid on November 24, 2015,
among other lesser remedies, the lender may declare all unpaid
principal and accrued interest under the Amended Facility due and
payable immediately.  If the PIK payment is not made on November
24, 2015, we risk losing some or all of our property to
foreclosure.  If this occurs, our business and results of
operations would be materially adversely affected.  

"These uncertainties raise substantial doubt about the company's
ability to continue as a going concern."

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/h3g4zud

BREF HR, LLC owns and operates the Hard Rock Hotel & Casino Las
Vegas.  The company maintains its headquarters in New York.



CAESARS ENTERTAINMENT: Lenders Object to UCC's Standing Motion
--------------------------------------------------------------
The Ad Hoc Committee of First Lien Noteholders, et al., and the Ad
Hoc Committee of Beneficial Holders, et al., objected to the motion
filed by the Statutory Unsecured Claimholders' Committee, seeking
derivative standing to commence, prosecute and settle certain
causes of action, before the U.S. Bankruptcy Court for the Northern
District of Illinois, Eastern Division.

The Ad Hoc Committee of First Lien Noteholders and UMB Bank, N.A.,
in its capacity as successor indenture trustee for the First Lien
Notes ("First Lien Notes Parties") assert that the UCC's Standing
Motion should be denied because the UCC cannot satisfy the
prerequisites for derivative standing and granting it at this time
would not align with the interests of the estates.

The First Lien Notes Parties contend that far from "unjustifiably
refusing" to bring suit, the Debtors are prosecuting a chapter 11
plan that resolves all of the issues the UCC requests standing to
litigate.  The UCC may object to that resolution in connection with
confirmation, but unless and until that objection is sustained, the
accusation that the Debtors have shirked their duties by failing to
litigate against their senior secured creditors has no merit.

The First Lien Notes Parties further contend that a number of the
UCC's proposed claims seek not lien-avoidance, but rather
declarations that liens on certain assets were never granted in the
first place.  They assert that adjudication of such claims brings
no new value into the estate and is necessary only if the Debtors
propose to pay unsecured creditors less than that to which they are
otherwise entitled; plainly, that is a confirmation issue.  The
First Lien Notes Parties tell the Court that the few actual
avoidance claims alleged by the UCC are not colorable and would not
survive a motion to dismiss.  They further tell the Court that to
rule as the UCC requests not only would short-circuit the entire
plan process, but also would improperly invade the Debtors’
exclusive authority to propose the current plan or a modified plan
and would needlessly engulf this case in premature and unnecessary
litigation.

The Ad Hoc Committee ("Ad Hoc Bank Lender Committee") of beneficial
holders, or the investment advisors or managers for certain
beneficial holders, of first lien bank debt issued by the Debtors
("First Lien Bank Lenders"), and Credit Suisse AG, Cayman Islands
Branch's, as administrative agent and collateral agent ("First Lien
Agent"), opposes the UCC's Motion for these reasons:

     (1) The Challenges that the UCC seeks to pursue would waste
estate assets and would not provide a net benefit to the Debtors'
estates.

     (2) The UCC fails to demonstrate that litigating the
challenges would yield a recovery that exceeds the Plan
distributions to unsecured creditors provided under the current
proposed plan.

     (3) The Debtors are justified in declining to pursue the
challenges. Formal demand on the Debtors was not made. The UCC has
not yet shown that its Challenges were unjustifiably denied by the
Debtors and would otherwise result in a net benefit to its
constituents.

     (4) Litigation of the Challenges is premature and should be
deferred to Confirmation.

The Ad Hoc Committee of First Lien Noteholders is represented by:

          Mark A. Berkoff, Esq.
          Robert Radasevich, Esq.
          Nicholas M. Miller, Esq.
          NEAL, GERBER & EISENBERG LLP
          Two North LaSalle Street, Suite 1700
          Chicago, IL 60602-3801
          Telephone: (312)269-8000
          E-mail: mberkoff@ngelaw.com
                  rradesevich@ngelaw.com
                  nmiller@ngelaw.com

                  - and -

          Kenneth H. Eckstein, Esq.
          Douglas H. Mannal, Esq.
          Daniel M. Eggermann, Esq.
          David E. Blabey, Jr., Esq.
          KRAMER LEVIN NAFTALIS & FRANKEL LLP
          1177 Avenue of the Americas
          New York, NY 10036
          Telephone: (212)715-9100
          E-mail: keckstein@kramerlevin.com
                  dmannal@kramerlevin.com
                  deggermann@kramerlevin.com
                  dblabey@kramerlevin.com

                  - and -

          Peter A. Siddiqui
          KATTEN MUCHIN ROSENMAN LLP
          525 West Monroe Street
          Chicago, Illinois 60661-3693
          Telephone: (312)902-5200
          E-mail: peter.siddiqui@kattenlaw.com

                  - and -

          Craig A. Barbarosh, Esq.
          David A. Crichlow, Esq.
          Karen B. Dine, Esq.
          KATTEN MUCHIN ROSENMAN LLP
          575 Madison Avenue
          New York, NY 10022-2585
          Telephone: (212)940-8800
          E-mail: craig.barbarosh@kattenlaw.com
                  david.crichlow@kattenlaw.com
                  karen.dine@kattenlaw.com

                  - and -

          Brian L. Shaw, Esq.
          SHAW FISHMAN GLANTZ & TOWBIN LLC
          321 N. Clark Street, Suite 800
          Chicago, IL 60654
          Telephone: (312)541-0151
          E-mail: bshaw@shawfishman.com

                  - and -

          Kristopher M. Hansen, Esq.
          Kenneth Pasquale, Esq.
          Erez E. Gilad, Esq.
          Jonathan D. Canfield, Esq.
          STROOCK & STROOCK & LAVAN LLP
          180 Maiden Lane
          New York, NY 10038
          Telephone: (212)806-5400
          E-mail: khansen@stroock.com
                  kpasquale@stroock.com
                  egilad@stroock.com
                  jcanfield@stroock.com

The First Lien Agent is represented by:          

          Richard M. Bendix, Esq.
          Maria A. Diakoumakis, Esq.
          DYKEMA GOSSETT PLLC
          10 S. Wacker Drive, Suite 2300
          Chicago, IL 60606
          Telephone: (312)876-1700
          Facsimile: (312)876-1155
          E-mail: rbendix@dykema.com
                  mdiakoumakis@dykema.com

                  - and -

          Joel H. Levitin, Esq.
          Kevin J. Burke, Esq.
          Richard A. Stieglitz, Jr., Esq.
          CAHILL GORDON & REINDEL LLP
          Eighty Pine Street
          New York, NY 10005
          Telephone: (212)701-3000
          Facsimile: (212)269-5420
          E-mail: jlevitin@cahill.com
                  kburke@cahill.com
                  rstieglitz@cahill.com

Caesars Entertainment is represented by:

          James H.M. Sprayregen, P.C.
          David R. Seligman, P.C.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          300 North LaSalle
          Chicago, Illinois 60654
          Telephone: (312)862-2000
          Facsimile: (312)862-2200
          E-mail: james.sprayregen@kirkland.com
                  david.seligman@kirkland.com

                  - and -

          Paul M. Basta, Esq.
          Nicole L. Greenblatt, Esq.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          601 Lexington Avenue
          New York, NY 10022-4611
          Telephone: (212)446-4800
          Facsimile: (212)446-4900
          E-mail: paul.basta@kirkland.com
                  nicole.greenblatt@kirkland.com

                   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.


COLT DEFENSE: Court Confirms Ch. 11 Reorganization Plan
-------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware issued on Dec. 16, 2015, issued a findings
of fact, conclusions of law, and order confirming
Colt Holding Company LLC, et al.'s Second Amended Joint Plan of
Reorganization.

At the Dec. 16 Confirmation Hearing, the Court head and considered
(i) the Debtors' presentation and evidence in support of
confirmation of the Plan and (ii) oral argument on the extant
portions of the objection of Andrew R. Vara, Acting U.S. Trustee
for Region 3, to confirmation of the Plan.  The Acting U.S. Trustee
complained that the Plan is not confirmable because it contains
non-consensual third-party releases to be given by certain of the
Debtors' creditors in favor of numeours non-debtor parties, and
contains other release provisions that are contrary to applicable
law, including the standards set forth by the Court in In re
Washington Mutual, Inc., 442 B.R. 314 (Bankr. D. Del. 2011) and In
re Tribune Company, 464 B.R. 126 (Bankr. D. Del. 2011).

The U.S. Government, on behalf of the Internal Revenue Service,
which asserted an unsecured priority and general unsecured,
prepetition claim against Colt Security, LLC, in the amount of
$11,259, objected to the third-party non-debtor limitation of
liability, exculpation, injunction and release provisions set forth
in the Plan.

The International Union, UAW, and its Local 376, reserved its
rights with respect to confirmation of the Plan.  The Union stated
that it does not oppose confirmation of the Plan as the Plan
provides for assumption of the collective bargaining agreement with
the Debtors.  The Union argued that claims, if any, arising out of
reductions of benefits covered by its CBA with the Debtors, even if
the CBA is assumed, are contract rejection claims that may be
classified and entitled to treatment as General Unsecured Claims
under Class 6 of the Plan.

The Official Committee of Unsecured Creditors, in response to the
Union's reservation of rights, filed a statement saying it
understands that, since the filing of the UAW reservation of
rights, the parties have continued to engage in negotiations
regarding the modification of benefits to the Debtors' current and
former employees.  The Committee said it filed its response to (i)
indicate its disagreement with the Union's assertions regarding the
classification and treatment of the UAW Modification Claims that
may arise under the assumed CBA and (ii) further state that, if the
UAW Modification Claims are nevertheless classified and treated as
General Unsecured Claims under Class 6 of the Plan and this
increase in the general unsecured claims pool dilutes or risks
dilution of the contemplated recoveries for holders of true General
Unsecured Claims, the Committee may no longer support the Plan.

In response to all objections and reservations of rights, the
Debtors filed a memorandum of law in support of confirmation of the
Plan.  The Debtors maintain that the Plan is the product of
extensive and good faith negotiations among the Debtors, the Term
Loan Lenders, the Consortium, NPA Hartford LLC and the Sciens
Group.  These negotiated resulted in a plan that guarantees
meaningful recoveries for unsecured creditors and will allow Colt
to exit bankruptcy with the liquidity necessary to execute its
business plan, preserve the jobs of its over 700 employees, and
avoid costly and protracted litigation.  The Committee joined in
the Debtors' memorandum of law in support of confirmation of the
Debtors' Plan.

At the hearing, the Court overruled the extant portions of the U.S.
Trustee objection and confirmed the Plan.

Prior to the Confirmation Hearing, the Debtors filed supplements to
the Plan, including the Reorganized Parent LLC Agreement, Senior
Exit Intercreditor Agreement, Junior Exit Intercreditor Agreement,
Term Sheet for New Management Incentive Plan, and List of Retained
Actions.

Full-text copies of the Plan Supplements dated Dec. 3, 2015, are
available at http://bankrupt.com/misc/COLTplansupp1203.pdf

Full-text copies of the Plan Supplements dated Nov. 30, 2015, are
available at http://bankrupt.com/misc/COLTplansupp1130.pdf

The Debtors are represented by:

         Mark D. Collins, Esq.
         Jason M. Madron, Esq.
         Joseph C. Barsalona II, Esq.
         RICHARDS, LAYTON & FINGER, P.A.
         One Rodney Square
         920 North King Street
         Wilmington, DE 19801
         Tel: (302) 651-7700
         Fax: (302) 498-7531

            -- and --

         John J. Rapisardi, Esq.
         Peter Friedman, Esq.
         Joseph Zujkowski, Esq.
         O'MELVENY & MYERS
         Time Square Tower
         7 Times Square
         New York, NY 10036
         Tel: (212) 326-2000
         Fax: (212) 326-2061

The Committee is represented by:

         Domenic E. Pacitti, Esq.
         Richard M. Beck, Esq.
         KLEHR HARRISON HARVEY BRANZBURG LLP
         919 Market Street, Suite 1000
         Wilmington, DE 19801-3062
         Tel: (302) 426-1189
         Fax: (302) 426-9193
         Email: dpacitti@klehr.com
                rbeck@klehr.com

            -- and --

         David M. Posner, Esq.
         Shane G. Ramsey, Esq.
         KILPATRICK TOWNSEND & STOCKTON LLP
         The Grace Building
         1114 Avenue of the Americas
         New York, NY, 10036-7703
         Tel: (212) 775-8764
         Fax: (212) 658-9523
         Email: dposner@kilpatricktownsend.com
                sramsey@kilpatricktownsend.com

The Acting U.S. Trustee is represented by:

         Tiiara N. A. Patton, Esq.
         Trial Attorney
         United States Department of Justice
         Office of the United States Trustee
         J. Caleb Boggs Federal Building
         844 King Street, Suite 2207, Lockbox 35
         Wilmington, DE 19801
         Phone: (302) 573-6491
         Fax: (302) 573-6497

The IRS is represented by:

         Charles M. Oberly, III, Esq.
         United States Attorney
         Ellen W. Slights, Esq.
         Assistant U.S. Attorney

The Union is represented by:

         Susan E. Kaufman, Esq.
         LAW OFFICE OF SUSAN E. KAUFMAN, LLC
         919 North Market Street, Suite 460
         Wilmington, DE 19801
         Tel: (302) 472-7420
         Fax: (302) 792-7420
         Email: skaufman@skaufmanlaw.com

            -- and --

         Michael Nicholson, Esq.
         NICHOLSON FELDMAN LLP
         232 Nickels Arcade
         Ann Arbor, MI 48104
         Tel: (734) 719-0850
         Fax: (734) 619-6840
         Email: mnicholson@nichfeld.com

                       About Colt Holding

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

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

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

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

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

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

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

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

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

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

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


CONTRAVIR PHARMACEUTICALS: Posts Net Loss, Has Going Concern Doubt
------------------------------------------------------------------
ContraVir Pharmaceuticals, Inc.'s net loss for three months ended
September 30, 2015 was $4.8 million, compared to a net loss of $1.5
million for the three months ended September 30, 2014, which was a
result of the operating expenses, and a loss resulting from the
change in fair value of derivative instruments-warrants of
approximately $0.4 million the three months ended September 30,
2014.

James Sapirstein, president and chief executive officer, and
William Hornung, chief financial officer of the company noted in a
regulatory filing with the U.S. Securities and Exchange Commission
on November 12, 2015: "As of September 30, 2015, we had an
accumulated deficit of $32.5 million, and expect to incur
significant and increasing operating losses for the next several
years as we expand our research, development and clinical trials of
FV-100 and CMX157.  We are unable to predict the extent of any
future losses or when we will become profitable, if at all.

"Our independent registered public accounting firm has issued a
report on our audited June 30, 2015 financial statements that
included an explanatory paragraph referring to our recurring losses
from operations and stockholder's deficit; and expressing
substantial doubt in our ability to continue as a going concern
without additional capital becoming available.

"Our ability to continue as a going concern is dependent upon our
ability to obtain additional equity or debt financing, attain
further operating efficiencies and, ultimately, to generate
revenue.

"ContraVir will be required to raise additional capital within the
next year to continue the development and commercialization of its
current product candidate and to continue to fund operations at its
current cash expenditure levels.  ContraVir cannot be certain that
additional funding will be available on acceptable terms, or at
all.  Any debt financing, if available, may involve restrictive
covenants that impact ContraVir's ability to conduct business.

"If ContraVir is unable to raise additional capital when required
or on acceptable terms, ContraVir may have to (i) significantly
delay, scale back or discontinue the development and/or
commercialization of its product candidate; (ii) seek collaborators
for product its candidate at an earlier stage than otherwise would
be desirable and on terms that are less favorable than might
otherwise be available; or (iii) relinquish or otherwise dispose of
rights to technologies, product candidates or products that
ContraVir would otherwise seek to develop or commercialize
ourselves on unfavorable terms."

As of September 30, 2015, ContraVir had $1.8 million in cash.  Net
cash used in operating activities was $2.8 for the three months
ended September 30, 2015.  Net loss for the three months ended
September 30, 2015 was $4.8 million.  As of September 30, 2015,
ContraVir had negative working capital of $1.5 million.

At Sept. 30, 2015, the company had total assets of $2,853,954,
total liabilities of $4,215,036, and a stockholders' deficit of
$1,361,082.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/gl23chu

ContraVir Pharmaceuticals, Inc. is focused on the clinical
development of FV-100 to treat herpes zoster (HZ) or shingles,
which is an infection caused by the reactivation of varicella virus
(VZV) or chickenpox, and CMX157 to treat Hepatitis B (HBV).  The
company is headquartered in Edison, New Jersey.


COYNE INTERNATIONAL: Has Until Jan. 26 to File Chapter 11 Plan
--------------------------------------------------------------
The Hon. Margaret Cangilos-Ruiz of the U.S. Bankruptcy Court for
the Northern District of New York extended Coyne International
Enterprises Corp.'s exclusive periods to file a plan of
reorganization until Jan. 29, 2016, and solicit acceptances for
that plan until March 28, 2016.

Medley Opportunity Fund II LP objected to the Debtor's extension
motion, stating that the Debtor is seeking to extend the
exclusivity period under circumstances that leave virtually no
possibility of a confirmable Chapter 11 plan.  As the sales of
substantially all of the Debtor's assets are scheduled to close
within days, and the proceeds of the sales will be used to pay off
NXT Capital, LLC's senior secured debt, few goals remain to be
accomplished in the bankruptcy that would require the expense of a
chapter 11 plan confirmation, particularly when there are
insufficient unencumbered assets available to pay administrative
and priority claims, Medley Opportunity asserted.

Medley added that the Debtor cannot carry its burden to show cause
exists to extend its exclusivity periods.  At this stage, there is
no need for any additional time to negotiate a course of action
that is plainly obvious and does not leave a lot of room for
variation, Medley argued.

As reported in the Troubled Company Reporter on Nov. 24, 2015, the
Debtors requested that the Court extend their exclusive period plan
to file a plan until including Feb. 26, 2016, and their exclusive
period to solicit acceptances until April 26.

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

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

                  About Coyne International

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

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

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


CUBIC ENERGY: January 5 Final Hearing on Trading Procedures
-----------------------------------------------------------
The U.S. Bankruptcy  Court for the District of Delaware approved
certain procedures to restrict trading in the stock, options, and
other equity interest of Cubic Energy Inc. and its
debtor-affiliates in order to preserve to their federal income tax
net operating losses pursuant to Sections 105(a), 362(a), and 541
of the Bankruptcy Code.

Objections to the procedures must be filed no later than 5:00 p.m.
(prevailing Easter Time) on Jan. 5, 2016.  A final hearing is set
for Jan. 12, 2016, at 1:00 p.m. (prevailing Eastern Time) to
consider the relief requested.

                    About Cubic Energy

Texas-based Cubic Energy, Inc., Cubic Asset Holding, LLC, Cubic
Asset, LLC, Cubic Louisiana Holding, LLC and Cubic Louisiana, LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead
Case No. 15-12500) on Dec. 11, 2015.  Jon R. Ross signed the
petition as executive vice president and corporate secretary.
Cubic Energy disclosed total assets of $120.7 million and total
debts of $114.2 million, both as of March 31, 2015.

The Debtors have engaged Bayard P.A., as Delaware counsel,
Holland
& Knight LLP as restructuring counsel, Houlihan Lokey Capital,
Inc.
as financial advisor and Prime Clerk LLC as noticing, balloting
and
claims agent.

The Debtors are independent energy companies engaged in the
development and production of, and exploration for, crude oil,
natural gas and natural gas liquids.  The Debtors' oil and gas
assets are located in Texas and Louisiana.



D&D ASSOC: Court Awards Defense Costs in Favor of Epstein
---------------------------------------------------------
Robert C. Epstein seeks an award of attorneys' fees and costs
against D&D Associates, Inc.  Epstein moves for the relief on all
civil rights claims brought by D&D against him.

The Court limits the procedural analysis insofar as it relates to
the arguments raised here regarding Civil Rights Counts One, Two,
Three, and Four against Epstein.  D&D amended the complaint to
expand its claims.  The amended complaint contained 16 counts, 13
of which were asserted against Epstein.  The first four counts
asserted federal civil rights causes of action against Epstein.

Epstein, during the pendency of the action, requested that D&D
withdraw claims asserted against him after this Court issued the
9-30-05 Ruling.

The Court granted summary judgment in favor of Epstein on Count Two
in its 3-30-12 Ruling.  D&D moved, in effect, for reconsideration
of the 3-30-12 Ruling.  The Court denied that on the grounds that,
inter alia, D&D did not: (1) raise an intervening change in
controlling law or new evidence; or (2) base the motion on facts or
controlling legal precedent previously considered by this Court.
The Court concluded, rather, that D&D's motion merely asserted
D&D's disagreement with the 3-30-12 Ruling.

D&D appealed from the 12-21-07 Ruling, 3-30-12 Ruling, and 8-15-12
Ruling -- insofar as those rulings addressed, inter alia, the Civil
Rights Counts — to the Third Circuit. The Third Circuit affirmed
this Court's rulings on all counts.

Epstein moves for Defense Costs under Section 1988 against D&D,
with respect to the Civil Rights Counts, insofar as D&D asserted
those counts against him.

Judge Mary L. Cooper of the United States District Court for the
District of New Jersey ordered:

   (1) to award Defense Costs on Count One as D&D's prosecution on
this count was not frivolous, unreasonable, or without foundation;

   (2) deny Defense Costs on Count Two under Section 1988 as the
Court finds that this claim was not frivolous, unreasonable, or
without foundation because the scope of the stigma-plus test was in
flux during the course of this action; and

   (3) award Defense Costs on Count Three and Count Four under
Section 1988 as D&D's prosecution of Count Three and Count Four
against Epstein was frivolous, unreasonable, and without
foundation. The procedural record demonstrates that D&D knew or
should have known about the evidentiary deficiencies related to its
claims.

The case is D&D ASSOCIATES, INC., Plaintiff, v. BOARD OF EDUCATION
OF NORTH PLAINFIELD, et al., Defendants, Civil Action No. 03-1026
(MLC).

A full-text copy of the Memorandum Opinion dated December 9, 2015
is available at http://is.gd/85qdAUfrom Leagle.com.

D&D ASSOCIATES, INC., a New Jersey Corporation, Plaintiff,
represented by J. Charles Sheak, Esq. --SHEAK & KORZUN, PC, Timothy
J Korzun, Esq. -- SHEAK & KORZUN, PC & Deborah I. Hollander, Esq.
-- SHEAK & KORZUN, P.C.

Board Of Education Of North Plainfield, The, Defendant, represented
by Jacqueline Greenberg Vogt,  Esq. -- vogtj@gtlaw.com -- GREENBERG
TRAURIG, LLP & Robert Carl Epstein, Esq. -- epsteinr@gtlaw.com
--GREENBERG TRAURIG LLP.

Robert C. EPSTEIN, Defendant, represented by Walter James
Greenhalgh, Esq. --   WJGreenhalgh@duanemorris.com -- DUANE MORRIS,
LLP, Alissa Lara Chang, Esq. -- achang@mdmc-law.com -- MCELROY
DEUTSCH MULVANEY & CARPENTER LLP, Joseph P. Lasala, Esq. --
jlasala@mdmc-law.com -- MCELROY, DEUTSCH, MULVANEY & CARPENTER,
LLP, William F. O'connor, Jr., Esq. -- woconnor@mdmc-law.com --
MCELROY, DEUTSCH MULVANEY & CARPENTER, LLP & Sanjay P. Ibrahim,
Esq. -- sanjay.ibrahim@piblaw.com -- PARKER IBRAHIM & BERG LLC.

Sheak & Korzun, P.C., Defendant, represented by Gerald H. Gline,
Esq. -- ggline@coleschotz.com -- COLE SCHOTZ P.C., Michael S.
Meisel, Esq. -- mmeisel01@gmail.com -- COLE, SCHOTZ, MEISEL, FORMAN
& LEONARD, PA & Wendy F. Klein, Esq. -- wklein@coleschotz.com --
COLE, SCHOTZ.

D&D filed for Chapter 11 bankruptcy in August 2003, and its
reorganization plan was approved in January 2005.


DIEBOLD INC: Moody's Assigns Ba3 First-Time Corp. Family Rating
---------------------------------------------------------------
Moody's Investors Service has assigned a Ba3 first-time Corporate
Family Rating (CFR) and a Ba3-PD Probability of Default Rating
(PDR) to Diebold, Inc. (Diebold). Moody's also assigned a Ba2
(LGD3) rating to the company's first lien senior secured credit
facilities, consisting of a $520 million revolving credit facility
and $480 million in term loans. As part of the rating action,
Moody's assigned an SGL-1 rating indicating very good liquidity.
The term loan borrowings and cash on hand, in conjunction with an
additional $1.3 billion of secured debt, $500 million of unsecured
debt to be raised in the near future and $430 million from equity
issuance to Wincor shareholders will be used to fund the roughly
$1.8 billion business combination with Wincor Nixdorf AG (Wincor)
and to refinance existing debt at both companies. The rating
outlook is stable.

Assignments:

Corporate Family Rating - Ba3

Probability of Default Rating - Ba3-PD

First Lien Senior Secured Facilities - Ba2 (LGD 3)

Short Term Liquidity Rating - SGL-1

Outlook: Stable

RATINGS RATIONALE

The pending combination of Diebold and Wincor will create the
world's largest manufacturer of automated teller machines (ATM)
with a broad global presence and wide customer diversification. The
combined company will have an installed base of about 1 million
ATMs, and will also serve 24 of the top 25 retailers in Europe with
its retail check-out products. Moody's believes that the
transaction is highly complementary from a geographic and product
standpoint, with the expectation that the consolidation of the
hardware portfolio will result in significant development and
manufacturing savings in the future.

The acquisition will also provide a platform to generate stable and
higher margin recurring service revenues that stem from long-term
service contracts on the installed ATMs and retail check-out
terminals. Diebold has the largest number of field-service
professionals among its competitors, and there are organic revenue
opportunities to expand the service to Wincor's customers, as that
company has not had the same service attach rates on its hardware
installations as Diebold.

Moreover, the long-term roadmap for technology investments in the
retail banking industry bode well for ATM manufacturers, as the
drive to automate and transform bank branches is gaining traction
across financial institutions, as they promote more efficient bank
operations. This should drive faster growth of higher-end ATMs and
newer automated products, and with greater functionality in the new
installations come strong attach rates of higher margin software
services and maintenance contracts.

Diebold is considered weakly positioned in the Ba3 rating category
given the high initial leverage and integration risks. However, the
rating incorporates Moody's expectation for improving operating
performance and margin expansion as Diebold integrates Wincor's
operations and achieves operating synergies.

The Ba3 CFR reflects the company's high adjusted debt to EBITDA
leverage resulting from the Wincor acquisition (about 5.75 times at
closing), relative to more conservative historic levels at both
companies, and the risks that the benefits of the combination will
take longer than expected to realize. Moody's also acknowledges the
integration risks of merging companies on two continents and with
distinctly different corporate cultures. In addition, competitor
innovation, challenging macroeconomic forces and technology changes
may impact the sales of the company's products in the future.

The SGL-1 rating reflects very good liquidity, primarily supported
by large cash balances and a large revolving credit facility.
Moody's expects the company to be free cash flow negative over the
next 12 to 18 months, due to the costs and integration of the
Wincor acquisition. Moody's expects the company to have about $700
million in cash and short term investments balances at closing,
which is higher than the historic combined cash balances of above
$350 million. The company maintains a $520 million revolving credit
facility as a source for external liquidity, which Moody's expects
to be undrawn over the 12 months following the close of the
acquisition.

The ratings for Diebold debt instruments comprise both the overall
probability of default to which Moody's assigned a PDR of Ba3-PD
and an average family loss given default assessment. Moody's rates
the company's senior secured credit facilities Ba2, LGD3-38%. The
Ba2 rating on the senior secured credit facility reflects the
instruments' position in the capital structure, and assumes that an
additional $1.3 billion in senior secured debt and $500 million of
senior unsecured debt will be raised in the near future to complete
the Wincor acquisition. Should the final capital structure differ
from Moody's assumptions, the ratings on the senior secured debt
may change.

Rating Outlook

The stable outlook reflects Moody's expectations that the company
will make tangible progress in integrating Wincor and will grow
revenues and operating margins in the near term.

What Could Change the Rating - UP

Given the high initial leverage and integration risk, an upgrade is
unlikely in the near term. Diebold's rating could be upgraded if
the company successfully integrates Wincor, achieves strong revenue
growth, and attains synergies such that adjusted operating margins
consistently stay above 7% and consistently high levels of free
cash flow are generated. The rating could also be considered for an
upgrade if the company maintains adjusted leverage below 4.0
times.

What Could Change the Rating - DOWN

Diebold's ratings could be downgraded if the company suffers
integration issues, its operating margins do not improve as
anticipated, the company loses market share, or there is a change
in the company's competitive position as evidenced by adjusted
operating margins staying below 5%. In addition, the rating may be
downgraded if Diebold's adjusted leverage remains above 5.0 times.

Headquartered in North Canton, OH Diebold, Inc. has leading market
positions in manufacturing and servicing automatic teller machines,
electronic cash registers, and related supplies and services.



ENCLAVE AT BOYNTON: Proposes Substantive Consolidation
------------------------------------------------------
Enclave at Boynton Waters Properties, LLC, asks the U.S. Bankruptcy
Court for the Southern District of Florida, West Palm Beach
Division, to approve the substantive consolidation of related
debtors with Enclave at Hillsboro, LLC.

The Debtor seeks to substantively consolidate the related Debtors
with Enclave at Hillsboro for the following limited purposes during
the pendency of the Debtors' bankruptcy cases:

   (a)  treating assets of the eight estates as being a single
estate of Enclave at Hillsboro, LLC, including avoidance actions
under Chapter 5 of the Bankruptcy Code;

   (b) permitting defendants of any of the foregoing avoidance
actions to assert defenses against any of the Debtors against the
plaintiff, Enclave at Hillsboro, LLC;

   (c) treating all claims against the Debtors as against the
single estate of Enclave at Hillsboro, LLC;

   (d) having a single plan of reorganization filed by the Enclave
at Hillsboro, LLC with all creditors of the Debtors voting on such
plan;

   (e) ignoring, for purposes of the plan, the separate corporate
structures of the Debtors so that there will be a single plan
without formally merging the related Debtors into the Enclave at
Hillsboro, LLC so that title for real property held by each Debtor
will remain with that Debtor and that after the confirmation the
Debtors will still have their original separate corporate
existences;  and

   (f) eliminating duplicative claims by the same creditor asserted
against more than one estate.

The Debtor relates that it filed for Chapter 11 relief, in the U.S.
Bankruptcy Court for the Southern District of Florida, with the
following related debtors:

   (a) Enclave at Hillsboro, LLC, Case No. 15-26155-EPK, who owns
two parcels located at 1174 through 1185 Hillsboro Mile in
Hillsboro Beach, Florida, and approximately 50 concrete seawall
panels.

   (b) Antipodean Properties, LLC, Case No. 15-26162-EPK, who owns
two parcels located at 2511 and 2513 N. Riverside Dr. Pompano
Beach, Florida, and no personal property;

   (c) Remi Hillsboro, LLC, Case No. 15-26156-EPK, who owns a lot
located at 1107 Hillsboro Mile in Hillsboro Beach, Florida, and no
personal property;

   (d) Kerekes Land Trust Properties, LLC, Case No. 15-26165-EPK,
who owns a parcel at the north-west corner of Boynton Beach Blvd.
and Jog Road in Boynton Beach, Florida, and no personal property;

   (e) Estates of Boynton Waters Properties, LLC, Case No.
15-26152-EPK, who owns two lots located at 6819 and 6825 Cobia
Circle in Boynton Beach, Florida, and no personal property;

   (f) Hillsboro Mile Properties, LLC, Case No. 15-26148-EPK, owns
a lot located at 1103 and 1105 Hillsboro Mile in Hillsboro Beach,
Florida, and no personal property; and

   (g) Lake Placid Waterfront Properties, LLC, Case No.
15-26143-EPK, who owns a lot located at 2886 NE 30 Street,
Lighthouse Point, Florida, and a counterclaim in litigation
relating to sale commission for the prior sale of a lot.

The Debtor owns approximately 37 lots located at Esprit Way,
Captiva Circle in Boynton Beach, Florida, and no personal
property.

The Debtor relates that it has the following five creditors in
common with the related Debtors: BI Boca Boynton Portfolio, LLC;
13th Floor Investments, LLC; Auto Owner's Insurance; Specialized
Industries, Inc. and The Ardent Companies.  The Debtor further
relates that it, together with the related Debtors, entered into a
loan agreement with BI Boca Boynton Portfolio, LLC, who holds the
largest claim against the Debtors in the alleged amount of
$38,202,675 that is secured by the Debtor and related Debtors' real
property.  The Debtor notes that 13th Floor Investments, LLC holds
the second largest claim against the Debtor and the related Debtors
in the alleged amount of $829,309, which amount is based on
litigation and disputed by the Debtors.

The Debtor tells the Court that it has similar owners and
management with the related Debtors.  The Debtor further tells the
Court that John B. Kennelley is the sole managing member and 100%
membership owner of Enclave at Hillsboro, LLC, Hillsboro Mile
Properties, LLC, Remi Hillsboro, LLC and Lake Placid Waterfront
Properties, LLC. The Debtor relates that Mr. Kennelley is also the
president of Estates of Boynton Waters West Corp., who is the 100%
membership owner and managing member of Estates of Boynton Waters
Properties, LLC, and the president of Enclave at Boynton Waters
Corporation, who is the 100% membership owner and managing member
of the Enclave at Boynton. The Debtor further relates that he is
also the managing member and a 40% membership owner of Antipodean
Properties, LLC.

The Debtor contends that Enclave at Hillsboro, LLC intends to file
a plan of reorganization predicated on the requested substantive
consolidation that will address all assets of the Debtors and
provide for a 100% distributions to all holders of allowed claims
against the Debtors, provided that the Debtors intend to market and
sell the real property owned by Remi Hillsboro, LLC and Hillsboro
Mile Properties, LLC prior to the filing of the Plan. The Debtor
anticipates that the net sale proceeds from the forgoing sale and
the terms of the Plan will provide for a 100% distribution to
holders of allowed claims.

Enclave at Boynton Waters Properties is represented by:

          Bernice C. Lee, Esq.
          Bradley S. Shraiberg, Esq.
          SHRAIBERG, FERRARA & LANDAU, P.A.
          2385 NW Executive Center Drive, #300
          Boca Raton, FL 33431
          Telephone: (561)443-0800
          Facsimile: (561)998-0047
          E-mail: blee@sfl-pa.com
                  bshraiberg@sfl-pa.com

                 About Enclave at Boynton Waters

Enclave at Boynton Waters Properties, LLC, et al., filed Chapter 11
bankruptcy petitions (Bankr. S.D. Fla. Case Nos. 15-26141,
15-26143, 15-26148, 15-26152, 15-26155, 15-26156, 15-26162 and
15-26165) on Sept. 8, 2015.  The petitions were signed by John B.
Kennelly as manager.  Erik P. Kimball is assigned to the
first-filed case (15-26141).

The Debtors own various parcels of real property that constitute
the collateral of the same secured lender, BI Boca Boynton
Portfolio, LLC.


ENERGY FUTURE: Claimants' Motion for Class Certification Denied
---------------------------------------------------------------
In the Chapter 11 cases of Energy Future Holdings Corp., et al.,
Michael Cunningham, Joe Arabie, and Michelle Ziegelbaum ("Class
Claimants") filed a motion seeking an order exercising the
Bankruptcy Court's discretion to apply Rule 7023 of the Federal
Rules of Bankruptcy Procedure to Class Claimants' "Proof of
Unmanifested Asbestos Claim" and certifying a class pursuant to
Federal Rule of Civil Procedure 23.  The Debtors filed an objection
to the motion.

On Dec. 16, 2015, Judge Christopher S. Sontchi ruled that the
Motion is denied for the reasons set forth on the record at the
hearing.  The judge also ruled that:

   * The Court will not apply Federal Rule of Bankruptcy Procedure
7023 to Class Claimant's "Proof of Unmanifested Asbestos Claim."

   * "Class Proof of Claim Form" numbers 14519, 14520, and 14521
will be expunged from the claims register to the extent they
purported to be filed on behalf of anyone other than the named
claimant.

   * The Court will not certify a class pursuant to Federal Rule of
Civil Procedure 23.

                Settlement With EFH Notes Trustee

On Dec. 16, Judge Sontchi entered an order approving additional
relief in connection with the settlement with the EFH Notes
Trustee.  A copy of the document is available for free at:

  http://bankrupt.com/misc/Energy_F_7376_Ord_Relief_EFH_Notes.pdf

                        About Energy Future

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

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

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

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

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

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

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

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

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

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



ENERGY FUTURE: Court Approves Greenberg Traurig as Special Counsel
------------------------------------------------------------------
Energy Future Holdings Corp. and its debtor-affiliates obtained
authority from the U.S. Bankruptcy Court for the District of
Delaware to employ Greenberg Traurig, LLP as special counsel for
certain energy-related transactional matters, nunc pro tunc to
November 2, 2015.

As reported by the Troubled Company Reporter, in addition to
providing counsel with respect to energy-related transactional
matters, as modified by the Order approving this Application, the
Debtors request that Greenberg represent them in connection with
the Energy Services.

Iskender H. Catto will be principally responsible for services
provided to the Debtors.

Mr. Catto's current billing rate is $875.00 per hour.

Greenberg Traurig will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Mr. Catto, shareholder of Greenberg Traurig, 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.

Greenberg Traurug can be reached at:

      Iskender H. Catto, Esq.
      GREENBERG TRAURIG, LLP
      MetLife Building
      200 Park Avenue
      New York, NY 10166
      Tel: (212) 801-6865
      Fax: (212) 801-6400
      E-mail: cattoi@gtlaw.com

                        About Energy Future

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

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

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

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

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

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

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

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

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

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


ENERPULSE TECHNOLOGIES: Posts Net Loss, Raises Going Concern Doubt
------------------------------------------------------------------
Enerpulse Technologies, Inc. (OTCQB: ENPT) had a net loss of
$432,000 for the quarter ended September 30, 2015, as compared to a
net loss of $819,000 for the three months ended September 30, 2014
and the company anticipates a net loss for the remainder of 2015.
The decrease in operating loss for the three months ended September
30, 2015 was due primarily to managing expenses and improved gross
profit, Joseph E. Gonnella, chief executive officer, and Bryan C.
Templeton, chief financial officer of the company said in a
regulatory filing with the U.S. Securities and Exchange Commission
dated November 12, 2015.

"As a result of our losses from operations, minimal revenue
generation and limited capital resources, our independent
registered public accounting firm's report on our consolidated
financial statements as of, and for the year ended December 31,
2014, includes an explanatory paragraph discussing that these
conditions raise substantial doubt about our ability to continue as
a going concern."

Messrs. Gonnella and Templeton related: "The company reported a
loss from operations of approximately $2,075,000 for the nine
months ended September 30, 2015 and the company anticipates a loss
from operations for the remainder of 2015.  The company also used
net cash in operations of approximately $1,875,000 for the nine
months ended September 30, 2015 and has working capital of
approximately $461,000 at September 30, 2015.  

"As a result of the company's history of losses from operations,
cash flows used in operations and limited liquidity, the company's
independent registered public accounting firm's report on the
company's consolidated financial statements as of and for the year
ended December 31, 2014 includes an explanatory paragraph stating
that these conditions raise substantial doubt about the company's
ability to continue as a going concern.

"Management's plans are to secure additional funding to cover
working capital needs until positive cash flow from operations
occurs, which is anticipated to commence in 2016.  

"The company has a history of securing funding from various venture
capital firms (approximately $22 million) since 2004. In addition,
the company filed with the SEC, a Registration Statement on Form
S-1 (the Offering), which was declared effective by the SEC on May
13, 2014 for the public offering of 5,000,000 shares of common
stock and 5,000,000 warrants to purchase up to an aggregate of
7,500,000 shares of common stock.  On May 16, 2014, the company
announced the pricing of the Offering, and on May 21, 2014, the
company closed the Offering for 5,000,000 shares of its common
stock and 5,000,000 warrants at an offering price of $0.75 per
share and $0.05 per warrant, resulting in gross proceeds of $4.0
million.  

"During March 2014, the company also received $230,000 in financing
in exchange for promissory notes with warrants, which funded the
company prior to the closing of the Offering.  In addition, on
February 20, 2015, the company closed on approximately $3,049,000
in thirty-six month convertible notes at a 6% interest rate and 50%
warrant coverage.  Warrants were issued for 7,621,875 common shares
at an exercise price of $0.20 per share.  The notes are convertible
into 15,243,750 shares of the company's common stock.

"Our ability to continue to pursue our plan of operations is
dependent upon our ability to increase revenues and/or raise the
capital necessary to meet our financial requirements on a
continuing basis."

At September 30, 2015, the company had total assets of $1,894,804,
total liabilities of $3,145,104, and total stockholders' deficit of
$1,250,300.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/hrvcbx3

Enerpulse Technologies, Inc. (OTCQB: ENPT) engages in the design,
development, manufacturing and marketing of an energy and
efficiency enhancing product in the automotive industry.  The
company's headquarters are located in Albuquerque, New Mexico.



EXTENWAY SOLUTIONS: Files Under BIA, Has DIP Financing
------------------------------------------------------
Extenway Solutions Inc. on Dec. 21 announced the following events:

Request for Appointment of Receiver for Extenway MD Inc. by a
Secured Lender

Extenway Solutions Inc. currently operates eight hospital
installations through its wholly owned subsidiary Extenway MD Inc.
These installations were financed through term loans from Caisse
Desjardins De Beauport.  The Company was not current on payments
under these loan agreements but had entered into a forebearance
agreement waiving this default until December 11, 2015.  The
Company has been unable to negotiate an extension to this agreement
and therefore is in default under the loan agreements.

The Company has been advised that Desjardins has obtained court
approval to exercise its rights as a secured creditor and appoint
Raymond Chabot Inc. as receiver of MD.  Raymond Chabot Inc. is now
responsible for the operation of the system within those
hospitals.

Interested parties may contact Dominic Deslandes, CPA CA Cirp
Syndic of Raymond Chabot Inc. at (514) 393-4725 or
deslandes.dominic@rcgt.com

Impact on Extenway Solutions Inc.

Desjardins did not request a receiver for Extenway.  However the
hospital installations within MD were the major operating asset of
the Company.  While the Company was in advanced discussions to
raise financing, losing control of the hospital installations will
effectively terminate those negotiations.  Consequently, while
retaining significant intellectual property, Extenway would not
have cash to continue operations.

Therefore the Company and its subsidiary Extenway Medical Inc.
("Medical") have filed a notice of intention to make a proposal
("NOI") to its creditors in accordance with the Bankruptcy and
Insolvency Act.  PricewaterhouseCoopers Inc. ("PwC" or the
"Trustee") has been retained as trustee.  Extenway will enter into
an agreement with MD's receiver to provide it services to
facilitate the continued operation of the hospital contracts.  In
addition Extenway, subject to court confirmation, has entered into
an agreement to obtain debtor-in-possession financing ("DIP") to
maintain operations throughout the NOI.  Finally, in addition to
its legal responsibilities PwC will assist the company in making a
proposal to its creditors, which will be submitted to them at a
meeting to be held at a date yet to be determined.  In the
meantime, the company will benefit from a stay with regards to debt
payments and any creditor proceedings.

Interested parties may contact Philippe Jordan of PwC at (514)
205-5232 or philippe.jordan@ca.pwc.com

Resignation of Directors and Officers

The external members of the Board of Directors have resigned from
the Board of Extenway Solutions Inc. except for John McAllister who
will remain as the sole Director and Officer.  The Directors of
Extenway Solutions Inc. that have resigned are Louis Brunel,
Carolyne Lassonde, Francine Laurent and Lorne Zakaib.  Me Lassonde
also resigned as Secretary of the Company.  The Company appreciates
their contributions.

Richard Laferriere has resigned as an officer and director of
Solutions and Medical.  David Brown has resigned as an officer of
Solutions and as an officer and director of Medical.  John
McAllister continues as the sole officer and director of Solutions
and Medical.  All three have resigned as officers and directors of
MD.

The TSX Venture Exchange has advised that the Company will be
suspended and transferred to the NEX.

                  About Extenway Solutions Inc.

Extenway -- http://www.extenway.com-- is a provider of media,
connectivity and communications solutions serving the healthcare
industry.  The Company's services include Bedside Terminal
Solutions, Interactive Television Solutions, as well as Internet,
entertainment, Content, Marketing, Advertising Media, Education and
Integration Solutions.  


GENERAL MOTORS: UAW's Bid to Dismiss Former Workers' Suit Granted
-----------------------------------------------------------------
Judge Nancy G. Edmunds of the United States District Court for the
Eastern District of Michigan, Southern Division, granted the motion
to dismiss filed by International Union United Automobile,
Aerospace and Agricultural Implement Workers of America, Local 651,
and International Union United Automobile, Aerospace and
Agricultural Implement Workers of America.

The plaintiffs, 93 former employees of Delphi Corporation, who are
currently employees of defendant General Motors, LLC, brought suit
against the UAW Defendants and General Motors, LLC, claiming that
GM violated collective bargaining agreements and related agreements
because the plaintiffs remain at a lower Tier II wage level and
they should be paid at the higher Tier I wage level at GM.  The
plaintiffs argued that with migration to GM, they should have
gained greater seniority and Tier I wages, in part because they had
Delphi seniority that predated GM's introduction of its own two
tier wage system in 2007.  The plaintiffs also claimed that the UAW
Defendants violated their duty of fair representation.

The UAW Defendants argued that the claims against them should be
dismissed for the following reasons: They are time-barred; the
complaint does not identify the actual terms of the collective
bargaining agreement that were allegedly breached; and the
complaint does not allege an independent claim for breach of the
duty of fair representation.

Judge Edmunds agreed with the UAW Defendants.  The judge found that
the plaintiffs failed to exhaust their remedies, and their claims
are barred by the sixth month statute of limitations and are
therefore dismissed, except only with respect to plaintiffs Shante
Marshall and Jakeiya Anderson who had timely filed their appeal.

Judge Edmunds also found that the plaintiffs identified no contract
language that requires the Delphi employees to have been returned
to Tier I wages after accepting the buy down.

Lastly, Judge Edmunds held that the facts plead by the plaintiffs
do not support a claim that the UAW Defendants acted outside a
"wide range of reasonableness."

The case is EARLINE YOUNG, et al., Plaintiffs, v. INTERNATIONAL
UNION, UNITED AUTOMOBILE, AEROSPACE & AGRICULTURAL IMPLEMENT
WORKERS OF AMERICA (UAW), LOCAL 651, et al., Defendants, Case No.
15-11151 (E.D. Mich.).

A full-text copy of Judge Edmunds' December 1, 2015 opinion and
order is available at http://is.gd/FAuPv8from Leagle.com.

JaKeiya Anderson, Yvonne M Anderson, and Shante Marshall are
represented by:

          Stuart G. Friedman, Esq.
          Kenneth D. Myers, Esq.
          LAW OFFICES OF KENNETH D. MYERS
          850 Euclid Ave Ste 916
          Cleveland, OH 44114
          Tel: (216) 241-3900

General Motors LLC is represented by:

          Kim F. Ebert, Esq.
          Matthew J. Kelley, Esq.
          OGLETREE, DEAKINS
          111 Monument Circle Suite 4600
          Indianapolis, IN 46204
          Tel: (317) 916-1300
          Email: kim.ebert@ogletreedeakins.com
                 matthew.kelley@ogletreedeakins.com

            -- and --
          
          Sharon R. Gross, Esq.
          OGLETREE, DEAKINS
          34977 Woodward Avenue Suite 300
          Birmingham, MI 48009
          Tel: (248) 593-6400
          Email: rae.gross@ogletreedeakins.com

                  About Delphi Corp.

Based in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- is a global supplier of electronics and
technologies for automotive, commercial vehicle and other market
segments.  Delphi operates major technical centers, manufacturing
sites and customer support facilities in 30 countries.

The Company filed for Chapter 11 protection (Bankr. S.D.N.Y. Lead
Case No. 05-44481) on Oct. 8, 2005.  John Wm. Butler Jr., Esq.,
John K. Lyons, Esq., and Ron E. Meisler, Esq., at Skadden, Arps,
Slate, Meagher & Flom LLP, represented the Debtors in their
restructuring efforts.  Robert J. Rosenberg, Esq., Mitchell A.
Seider, Esq., and Mark A. Broude, Esq., at Latham & Watkins LLP,
represented the Official Committee of Unsecured Creditors.  As of
June 30, 2008, the Debtors' balance sheet showed $9.16 billion in
assets and $23.7 billion in debt.

The Court confirmed Delphi's plan on Jan. 25, 2008.  The Plan was
not consummated after a group led by Appaloosa Management, L.P.,
backed out from their proposal to provide $2.55 billion in equity
financing to Delphi.  At the end of July 2009, Delphi obtained
confirmation of a revised plan, build upon a sale of the assets to
a entity formed by some of the lenders who provided $4 billion of
debtor-in-possession financing, and General Motors Company.

On Oct. 6, 2009, Delphi's Chapter 11 plan of reorganization became
effective.  A Master Disposition Agreement executed among Delphi
Corporation, Motors Liquidation Company, General Motors Company,
GM Components Holdings LLC, and DIP Holdco 3, LLC, divides
Delphi's business among three separate parties -- DPH Holdings LLC,
GM Components, and DIP Holdco 3.

Delphi emerged from Chapter 11 as DPH Holdings.  DPH Holdings is
responsible for the post-Effective Date administration and
eventual closing of the Chapter 11 cases as well as the disposition
of certain retained assets and payment of certain retained
liabilities as provided under the Modified Plan.

Delphi Automotive PLC is UK-based company formed in May 2011 as a
holding company for US-based automotive parts manufacturer Delphi
Automotive LLP.  Delphi Automotive LLP is the successor to the
former Delphi Corporation.  At the time of its formation, Delphi
Automotive PLC filed an initial public offering seeking to raise
at least $100 million.

                    About General Motors

With its global headquarters in Detroit, Michigan, General Motors
-- http://www.gm.com/-- is one of the world's largest automakers,
traces its roots back to 1908.

General Motors Co. was formed to acquire the operations of
General Motors Corp. through a sale under 11 U.S.C. Sec. 363
following Old GM's bankruptcy filing.  The U.S. government
provided financing.  The deal was closed July 10, 2009, and Old GM
changed its name to Motors Liquidation Co.

Old GM -- General Motors Corporation -- filed for Chapter 11
protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on June 1,
2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  The Debtors tapped Weil, Gotshal & Manges LLP
Jenner & Block LLP and Honigman Miller Schwartz and Cohn LLP as
counsel; and Morgan Stanley, Evercore Partners and the Blackstone
Group LLP as financial advisor.  Garden City Group is the claims
and notice agent of the Debtors.

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

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

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


HYDRA INDUSTRIES: Going Concern Doubt Exists, CEO Says
------------------------------------------------------
Hydra Industries Acquisition Corp. has substantial doubt about its
ability to continue as a going concern, A. Lorne Weil, chief
executive officer and chairman, and George Peng, chief financial
officer of the company said in a regulatory filing with the U.S.
Securities and Exchange Commission dated November 12, 2015.

As of September 30, 2015, the company had $405,748 in its operating
bank accounts, $80,013,480 in cash and securities held in the Trust
Account to be used for a Business Combination or to repurchase or
convert its common stock in connection therewith and a working
capital deficit of $1,602,935.  As of September 30, 2015, $14,520
of the amount on deposit in the Trust Account represented interest
income, which is available to be withdrawn to pay the company's tax
obligations.  

Messrs. Weil and Peng disclosed: "Since inception, the company has
not withdrawn any interest income from the Trust Account.  Until
the consummation of a Business Combination, the company will be
using the funds not held in the Trust Account for identifying and
evaluating prospective acquisition candidates, performing due
diligence on prospective target businesses, paying for travel
expenditures, selecting the target business to acquire, and
structuring, negotiating and consummating the Business
Combination.

"For the nine months ended September 30, 2015, the company used
cash of $717,421 in operating activities.  As of September 30,
2015, the company had current liabilities of $2,103,343, primarily
representing amounts owed to lawyers, accountants and consultants
who have advised the company on matters related to a potential
Business Combination.  Such work continued after September 30, 2015
and amounts continued to accrue.  There can be no assurances that
the company will be able to make payment in full of the amounts due
to said advisors.  Funds in the Trust Account are not available for
this purpose absent an initial Business Combination.  If a Business
Combination is not consummated, the company would lack the
resources to pay all of the liabilities that have been incurred by
the company to date or after and the company may lack the resources
needed to consummate another Business Combination.  The company has
entered into fee arrangements with certain service providers and
advisors in connection with a potential Business Combination
pursuant to which certain fees will be deferred and payable only if
the company consummates such potential Business Combination.
Effective October 26, 2015, all efforts related to such potential
Business Combination were terminated and, accordingly, all deferred
contingent fees that had been previously incurred are no longer due
or payable.  There can be no assurances that the company will
complete a Business Combination.

"The company may need to raise additional capital through loans or
additional investments from its Sponsors, stockholders, officers,
directors, or third parties.  The company's Sponsors have each
committed $250,000, for an aggregate of $500,000, to be provided to
the company in the event that funds held outside of the Trust
Account are insufficient to fund its expenses after the Initial
Public Offering and prior to a Business Combination.  In addition,
the company's officers, directors and Sponsors may, but are not
obligated to, loan the company funds, from time to time or at any
time, in whatever amount they deem reasonable in their sole
discretion, to meet the company's working capital needs.

"Other than as described, none of the Sponsors, stockholders,
officers or directors, or third parties, are under any obligation
to advance funds to, or to invest in, the company.  Accordingly,
the company may not be able to obtain additional financing.  If the
company is unable to raise additional capital, it may be required
to take additional measures to conserve liquidity, which could
include, but not necessarily be limited to, curtailing operations,
suspending the pursuit of a potential transaction, and reducing
overhead expenses.  The company cannot provide any assurance that
new financing will be available to it on commercially acceptable
terms, if at all.  

"These conditions raise substantial doubt about the company's
ability to continue as a going concern."

At September 30, 2015, the company had total assets of $80,515,838,
total liabilities of $4,903,343, and stockholders' equity of
$5,000,001.

The company incurred a net loss of $720,771 for the quarter ended
September 30, 2015, compared to a net loss of $3,144 for the same
period in 2014.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/jvx6qvk

Hydra Industries Acquisition Corp. (NASDAQ: HDRAU) is a blank check
company formed for the purpose of acquiring one or more operating
businesses or assets.  The company maintains its headquarters in
New York.


KAUPTHING HF: Jan. 4 Hearing on Motion for Permanent Relief
-----------------------------------------------------------
The Hon. Martin Glenn of the U.S. Bankruptcy Court for the Southern
District of New York scheduled a hearing on Jan. 4, 2016, at 2:00
p.m. (New York Time) to approve the motion for permanent relief in
support of a creditor-approved composition filed by the Winding-Up
Committee of Kaupthing hf, in its capacity as duly recognized
foreign representative of the main proceeding in Iceland concerning
the Debtor.

Objections to the motion, if any, must be sent no later than 2:00
p.m. (New York Time) on Dec. 28, 2016, to Judge Glenn, One Bowling
Green in New York, New York.


LEHMAN BROTHERS: Banks, Hedge Funds Seek $20M for Legal Fees
------------------------------------------------------------
Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reported that a group of Wall Street banks and hedge funds --
including Paul Singer's Elliott Management Corp. -- are fighting to
be reimbursed nearly $20 million in legal fees spent on Lehman
Brothers Holdings Inc.'s historic bankruptcy.

According to the report, in court papers, lawyers for Bank of New
York Mellon, U.S. Bank and others argued that their work in helping
the nation's then-fourth-largest investment bank smoothly close
down was substantial enough to justify the tab to be paid out of
the collapsed bank's remaining money.

                     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.

                          *     *     *

In October 2015, Lehman made its eighth distribution to creditors,
bringing Lehman's total distributions to unsecured creditors to
approximately $105.4 billion including (1) $77.2 billion of
payments on account of third-party claims, which includes
non-controlled affiliate claims and (2) $28.2 billion of payments
among the Lehman Debtors and their controlled affiliates.

As of September 2015, the trustee in charge of LBI has returned
around $7.65 billion to the defunct brokerage's unsecured
creditors, a recovery of about 35 cents on the dollar.


LONESTAR GEOPHYSICAL: Proposes FIFC Premium Finance Agreement
-------------------------------------------------------------
LoneStar Geophysical Surveys, L.L.C., asks the U.S. Bankruptcy
Court for the Western District of Oklahoma for authority to enter
into an Insurance Premium Finance Agreement with First Insurance
Funding Corp, as well as for adequate protection.

The Debtor relates that it requires various lines of insurance
coverage in order to assure that its property, employees, and
business is adequately protected against loss.  The Debtor further
relates that it particularly requires coverage for property and
equipment, commercial and general liability – oil & gas, employee
benefits liability, business automobile, umbrella liability and
workers compensation. The Debtor tells the Court that in order to
provide such coverages, it has arranged to purchase policies from
St. Paul Fire & Marine Co. ("Policies") and the total premium for
such coverages is $293,628.  The Debtor further tells the Court
that in order to avoid having to pay the entire premium in advance,
it has arranged with FIFC to provide premium financing pursuant to
a Commercial Premium Finance Agreement.

The Premium Finance Agreement contains, among others, these terms:

   (1) The total premium amount is $293,628 and the total amount to
be financed is $219,471.

   (2) LoneStar will become obligated to pay FIFC a down-payment of
$74,157 and eight monthly installments totaling $223,207, which are
due on the 29th day of each month, commencing on Dec. 29, 2015.

   (3) As collateral to secure the repayment of the total of
payments, any late charges, attorney’s fees and costs under the
Premium Finance Agreement, LoneStar would grant FIFC a security
interest in, among other things, the unearned premiums of the
Policies.

The Debtor contends that it has reached an agreement with FIFC
regarding the adequate protection appropriate for their situation,
as follows:

   (a) LoneStar be authorized and directed to timely make all
payments due under the Premium Finance Agreement and FIFC be
authorized to receive and apply such payments to Indebtedness owed
by LoneStar to FIFC as provided in the Premium Finance Agreement.

   (b) If LoneStar does not make any of the payments due under the
Premium Finance Agreement as they become due, FIFC would be
automatically granted relief from the automatic stay to enable FIFC
and/or third parties, including insurance companies providing the
coverage under the Policies, to take all steps necessary and
appropriate to cancel the Policies, collect the collateral and
apply such collateral to Indebtedness owed to FIFC by LoneStar. In
exercising such rights, FIFC and/or third parties shall comply with
the notice and other relevant provisions of the Premium Finance
Agreement.

The Debtor believes that the terms of the Premium Finance Agreement
are commercially fair and reasonable including the granting of a
lien on the Policies to FIFC.  The Debtor relates that it is
required to maintain adequate insurance coverage and without it,
would be forced to cease operations.

LoneStar Geophysical Surveys is represented by:

          Ross Plourde, Esq.
          Steven W. Bugg, Esq.
          MCAFEE & TAFT APC
          10th Floor, Two Leadership Square
          211 North Robinson
          Oklahoma City, OK 73102-7103
          Telephone: (405)235-9621
          Facsimile: (405)235-0439
          E-mail: ross.plourde@mcafeetaft.com
                  steven.bugg@mcafeetaft.com

                About LoneStar Geophysical Surveys

LoneStar Geophysical Surveys, LLC, is in the business of acquiring
seismic data for the oil and gas industry.  It owns a fleet of 13
state-of-the-art vibes (vibrators that generate seismic waves) and
a commensurately large inventory of wireless nodes (that receive
those seismic waves and transmit the resulting information for
processing and interpretation).  LoneStar was formed as an
Oklahoma
limited liability company on August 4, 2009 by Heath Harris who
continues to serve as its manager.

LoneStar Geophysical sought Chapter 11 bankruptcy protection
(Bankr. W.D. Okla. Case No. 15-11872) on May 18, 2015.  The Debtor
disclosed total assets of $21,643,793 and total liabilities of
$12,311,768 in its amended schedules.

Judge Hon. Sarah A. Hall presides over the case.  The Debtor
tapped
Ross A. Plourde, Esq., at McAfee & Taft, as counsel.


LONESTAR GEOPHYSICAL: Seeks Access to Cash Collateral Until Feb. 29
-------------------------------------------------------------------
LoneStar Geophysical Surveys, L.L.C., asks the U.S. Bankruptcy
Court for the Western District of Oklahoma for authorization for
the continued use of cash collateral through Feb. 29, 2016.

The Debtor relates that it is currently authorized to use cash
collateral through Dec. 31, 2015.  The Debtor further relates that
it has managed to secure additional contracts and currently has
sufficient work to allow it to keep its crews and equipment busy
and generate positive cash flow.  The Debtor contends that it
currently has signed contracts that will allow it to maintain
positive cash flow for January and February 2016, the period of
proposed continued use of case collateral.

The Debtor believes that the only creditor that has or may claim an
interest in its cash collateral is Frontier State Bank.  The Debtor
notes that it is indebted to Frontier State Bank pursuant to a Term
Promissory Note in the principal amount of $9,000,000, and a
Revolving Promissory Note in the original principal amount of
$1,000,000.  The Debtor further notes that pursuant to a Security
Agreement, Frontier State Bank has a security interest in certain
of the Debtor's assets, including "all inventory and accounts
receivables."  The Debtor believes that the total amount claimed by
Frontier State Bank at the present time under the Notes is
approximately $6,000,000.  The Debtor tells the Court that the
value of its equipment, accounts receivable and cash on hand is
approximately $14,500,000.

The Debtor seeks to use its cash collateral in the operation of its
business.  As adequate protection of any interest that Frontier
State Bank may have in its cash collateral, the Debtor proposes to
grant Frontier State Bank a replacement lien on all post-petition
accounts receivable and cash collateral, to the extent that the
prepetition assets that secure Frontier State Bank's claim are
inadequate to satisfy its secured claim due to the diminishment in
the value of its collateral suffered as a result of the cash
collateral use.

LoneStar Geophysical Surveys is represented by:

          Ross Plourde, Esq.
          Steven W. Bugg, Esq.
          MCAFEE & TAFT APC
          10th Floor, Two Leadership Square
          211 North Robinson
          Oklahoma City, OK 73102-7103
          Telephone: (405)235-9621
          Facsimile: (405)235-0439
          E-mail: ross.plourde@mcafeetaft.com
                  steven.bugg@mcafeetaft.com

                About LoneStar Geophysical Surveys

LoneStar Geophysical Surveys, LLC, is in the business of acquiring
seismic data for the oil and gas industry.  It owns a fleet of 13
state-of-the-art vibes (vibrators that generate seismic waves) and
a commensurately large inventory of wireless nodes (that receive
those seismic waves and transmit the resulting information for
processing and interpretation).  LoneStar was formed as an
Oklahoma
limited liability company on August 4, 2009 by Heath Harris who
continues to serve as its manager.

LoneStar Geophysical sought Chapter 11 bankruptcy protection
(Bankr. W.D. Okla. Case No. 15-11872) on May 18, 2015.  The Debtor
disclosed total assets of $21,643,793 and total liabilities of
$12,311,768 in its amended schedules.

Judge Hon. Sarah A. Hall presides over the case.  The Debtor
tapped
Ross A. Plourde, Esq., at McAfee & Taft, as counsel.



MECKLERMEDIA INC: To Commence Liquidation & Dissolution
-------------------------------------------------------
Mecklermedia Inc. on Dec. 22 disclosed that the company has adopted
a plan of liquidation and dissolution and intends to suspend its
operations upon stockholder approval of the plan of liquidation and
dissolution.  The company is evaluating its strategic alternatives
in order to maximize the value of its remaining assets.  As part of
the plan, the Company intends to conduct an orderly liquidation of
its assets and dissolution of its business, consistent with its
legal obligations, and as part of the wind down, anticipates an
immediate and significant reduction in its work force.

The company expects that all of the proceeds from any sale of its
assets will be used to pay its creditors, including its secured
creditor, and its wind down expenses.  The Company anticipates that
there will not be sufficient proceeds for any recovery by the
stockholders.

The decision came after many months of unsuccessful efforts to
raise capital and/or seek a potential acquirer.  Recent health
challenges of the company's CEO and founder, Alan Meckler, also
influenced the decision.  "We are extremely disappointed to suspend
operations but the market for our trade shows has not developed as
fast as we expected it would," said Mr. Meckler.  "At this time,
the Company continues to work with its financial and legal advisers
and is considering various methods of liquidation, all in an effort
to maximize the value of Company assets."

Any questions regarding this press release or the wind down of the
company should be directed to Scott Markowitz at c/o Tarter Krinsky
& Drogin LLP, 1350 Broadway, New York, NY 10018, 212-216-8000.
Similarly, anyone interested in purchasing the company's assets
should contact Mr. Markowitz.  

Mecklermedia Inc. is an operator of trade shows for the 3D
Printing, Robotics and Bitcoin industries.


MEDBOX INC: Discloses Going Concern Doubt, Need to Raise Capital
----------------------------------------------------------------
Medbox, Inc. reported a condensed consolidated net loss of
approximately $9,292,000, for the three months ended September 30,
2015 and approximately $3,797,000 for the three months ended
September 30, 2014.  The increase in net loss of approximately
$5,495,000 was primarily due to increases in the change in fair
value of the derivative liabilities, the amortization of the debt
discount and financing costs, Jeffrey Goh, chief executive officer,
and C. Douglas Mitchell, chief financial officer of the company
stated in a regulatory filing with the U.S. Securities and Exchange
Commission on November 12, 2015.

The company has an accumulated deficit of approximately $47,199,000
as of September 30, 2015.  During the nine months ended September
30, 2015, the company had a net loss of approximately $25,120,000,
negative cash flow from operations of approximately $6,124,000 and
negative working capital of approximately $15,685,000.  

"The company will need to raise capital in order to fund its
operations...These factors, among others, raise substantial doubt
about the company's ability to continue as a going concern,"
Messrs. Goh and Mitchell told the SEC.

"The ability to continue as a going concern is dependent on the
company's ability to raise additional capital and implement a
business plan."

On August 14, 2015 and August 20, 2015, the company entered into
two Securities Purchase Agreements with two separate investors, in
the aggregate principal amount of up to approximately $5,480,000
(collectively the August 2015 Debentures), of which approximately
$2,729,000 was funded during the third quarter of 2015, with up to
a remaining $2,751,000 still to be funded.

The officers disclosed, "Management is actively seeking additional
financing and expects to complete additional financing arrangements
in the next few months.  The company expects that these plans will
provide it the necessary liquidity to continue operations for the
next 12 months.

"To address its financing requirements, the company will continue
to execute on its business model by attempting to raise additional
capital through the sales of debt or equity securities or other
means.  It is uncertain the company can obtain financing to fund
operating deficits until profitability is achieved.  This need may
be adversely impacted by: uncertain market conditions, approval of
sites and licenses by regulatory bodies and adverse operating
results.  The outcome of these matters cannot be predicted at this
time."

At September 30, 2015, the company had total assets of $9,012,671,
total liabilities of $21,605,986, and total stockholders' deficit
of $12,593,315.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/jnf4uph

Medbox, Inc. provides specialized consulting services to the
marijuana industry and sells associated patented products and
medical vaporization devices.  The company works with clients who
seek to enter the medical and cultivation marijuana markets in
those states where approved.



MEDICAL TRANSCRIPTION: Debt Renewal Raises Going Concern Doubt
--------------------------------------------------------------
Medical Transcription Billing, Corp. (MTBC) has substantial doubt
about its ability to continue as a going concern, Mahmud Haq,
chairman of the board and chief executive officer, and Bill Korn,
chief financial officer of the company said in a November 12, 2015
regulatory filing with the U.S. Securities and Exchange
Commission.

Messrs. Haq and Korn stated, "The company's ability to continue as
a going concern is dependent on its ability to generate sufficient
cash from operations to meet its future operational cash needs.
The company previously had a line of credit with TD Bank which
required annual renewal, which was not assured.  

"This condition, along with negative cash flow from operations,
raised substantial doubt about the company's ability to continue as
a going concern."

The company renegotiated its bank financing during the third
quarter of 2015 and obtained additional funds through a combination
of a term loan and line of credit with Opus Bank.  The term loan
plus the line of credit have a combined borrowing limit of $6
million which was fully-utilized as of September 30, 2015. The term
loan expires September 1, 2019 and the line of credit expires
September 1, 2018, unless renewed.  "The company relies on the term
loan and line of credit for working capital purposes," the officers
noted.

According to Messrs. Haq and Korn, "The company's management
considered various options to raise future additional capital,
which would allow the company to fund future growth as well as
provide additional liquidity to eliminate concern about the
company's ability to continue as a going concern.  The company
completed a preferred stock offering on November 4, 2015 and raised
approximately $5.1 million before expenses. The offering resulted
in net cash to the company of approximately $4.0 million, of which
approximately $1.1 million has been set aside to fund the first two
years of preferred stock dividends.  The underwriters may also
exercise their option to purchase up to an additional 30,600 shares
of the preferred stock at $25.00 per share, less the underwriting
discount, for a period of 45 days after closing of the offering.
In addition, the company continues to reduce expenses, with the
goal of generating positive cash flow from operations on a regular
basis.

"Management believes that with the proceeds of the preferred stock
offering, the company has adequate sources of cash to fund its
anticipated cash requirements from operations through the end of
September 2016."

At September 30, 2015, the company had total assets of $21,581,575,
total liabilities of $10,999,575, and total shareholders' equity of
$10,582,000.

The company incurred a net loss of $1,233,327 for the three months
ended September 30, 2015, compared to a net loss of $2,840,754 for
the same period in 2014.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/h8dkh3n

Medical Transcription Billing, Corp. (MTBC) is a Somerset, New
Jersey-based healthcare information technology company offering
electronic health records and practice management solutions for
healthcare providers.  The company's services are designed to help
customers increase revenues, streamline workflows and make better
business and clinical decisions.


METRO-GOLDWYN-MAYER: Moody's Retains CFR on UAMG Stake Acquisition
------------------------------------------------------------------
Metro-Goldwyn-Mayer Inc.'s acquisition of the remaining 45% share
of United Artists Media Group (UAMG) and announcement that Mark
Burnett will be the President of MGM Television and Digital Group
is a positive development for the company's credit, but will not
impact the credit rating or outlook. MGM's Ba2 Corporate Family
rating (CFR), Ba2-PD Probability of Default rating, Ba3 2nd lien
term loan rating and stable outlook are unchanged.

The joint venture buyout follows MGM's acquisition of 55% ownership
stake in September 2014. In the joint venture 45% buyout, Mark
Burnett and Roma Downey will exchange their interest in UAMG for
1.3 million shares of MGM stock valued at $90 per share or about
$120 million. Hearst will receive approximately $114 million in
cash for their stake. Mark Burnett will become President of MGM
Television and Digital, where he will bring an impressive track
record of content development -- in particular unscripted
television, and report directly to Gary Barber, MGM's CEO. We
believe that Burnett's acceptance is beneficial not just because
the stake is being acquired with equity, but also because it aligns
his interests better with the company's. The company pursued the
transaction to drive greater efficiencies and revenue growth
opportunities during a period of great demand for both linear and
non-linear platform content.

Moody's expects that MGM will execute the transaction with some of
its cash on hand, which stood at $286 million at 09/30/2015, and
will continue to maintain robust liquidity supported by remaining
cash on hand, strong near-term free cash flow particularly from
Spectre box office receipts and window output revenues, as well as
library and other film revenue. In addition, the company's $665
million revolver is expected to remain undrawn. While the
acquisition has no impact on MGM's current (as of 9/30/15) leverage
ratio of around 0.9X Debt to EBITDA GAAP leverage or 1.8x
(incorporating Moody's standard adjustments and accounting for film
costs on a cash basis), we believe that the deal will be cash flow
and EBITDA accretive and UAMG will now be consolidated with MGM's
results. UAMG has generated better than expected EBITDA over the
last twelve months.

The acquisition marks an advance in the company's efforts to
further diversify its revenue and cash flow streams beyond the
volatile film production sector. More broadly, Moody's views the
development as a prudent use of cash for driving future long-term
growth, and is favorable from a debt holder perspective than the
use of cash solely for shareholder distributions. From a
fundamental business perspective, Moody's thinks the investment is
positive as MGM Television will be led by the creator and producer
of some of the most well-known and successful reality shows on
television. Mark Burnett is the mastermind behind iconic shows such
as Survivor, The Voice, Shark Tank, and The Apprentice, and Roma
Downey is known for producing popular faith-based and educational
shows such as The Bible series. While the deal will allow UAMG to
better take advantage of MGM's significant vault of television
shows and films, it also represents an opportunity for MGM to boost
its earnings by providing the distribution for new premium content
across various platforms and also broaden its presence in the
religious media niche.

Metro-Goldwyn-Mayer Inc., based in Beverly Hills, California,
produces and distributes motion pictures, television programming,
home videos, interactive media, music, and licensed merchandise. It
owns a library of films and television programs and holds ownership
interests in domestic and international television channels.
Revenue for LTM 9/30/2015 were approximately $1.41 billion.



MIDWAY GOLD: Sale of 30% Stake in Spring Valley Completed
---------------------------------------------------------
Midway Gold Corp. through Midway's subsidiary, Midway Gold US Inc.,
and Waterton Global Resource Management, Inc. on Dec. 17 jointly
disclosed that they have completed the previously-announced sale of
Midway's 30% interest in the Spring Valley joint venture to a
subsidiary of Waterton Precious Metals Fund II Cayman, LP for a
total of $25 million in cash.

Bill Zisch, President and CEO of Midway stated, "Closing the sale
of our 30% interest in the Spring Valley property completes the
realization of value for Midway and its stakeholders.  This
transaction is a significant step in Midway's ongoing
reorganization."

"We are excited to integrate the Spring Valley property into our
growing portfolio of high quality assets in favorable jurisdictions
like the State of Nevada," stated Isser Elishis, Chief Investment
Officer of Waterton.  "We are pleased to have completed this
transaction, as well as our acquisition of Barrick's 70% interest
in Spring Valley," continued Mr. Elishis.

Moelis & Company acted as financial advisor to Midway on the
transaction.

                      About Midway Gold

Midway Gold Corp., incorporated on May 14, 1996 under the laws of
the Province of British Columbia, Canada, is engaged in the
acquisition, exploration and development of mineral properties
located in the state of Nevada and Washington.

Midway Gold operates primarily through its wholly-owned subsidiary
located in the United States, Midway Gold US Inc.  The executive
offices are in Englewood, Colorado.  Midway US currently has one
gold producing property: the Pan gold mine located in White Pine
County, Nevada.  Midway also has gold properties which are
exploratory stage projects where gold mineralization has been
identified, such as the Tonopah project in Nye County, Nevada, the
Gold Rock project in White Pine County, Nevada, and the Golden
Eagle project in Ferry County, Washington.  Out of these projects,
a permitting process has been undertaken only for the Gold Rock
project.  Finally, Midway's Spring Valley property, another gold
property located in Pershing County, Nevada, is subject to a joint
venture with Barrick Gold Exploration Inc.

On June 22, 2015, Midway Gold US Inc. and 12 related entities,
including parent Midway Gold Corp. each filed a petition in the
U.S. Bankruptcy Court for the District of Colorado seeking relief
under Chapter 11 of the U.S. Bankruptcy Code.  The Debtors' cases
have been assigned to Judge Michael E. Romero.  

Judge Michael E. Romero directed the joint administration of the
cases under Case No. 15-16835.

The Debtors tapped Squire Patton Boggs (US) LLP as lead bankruptcy
counsel; Sender Wasserman Wadsworth, P.C., as special bankruptcy
and restructuring counsel; DLA Piper (Canada) LLP, as Canadian
bankruptcy counsel; Ernst & Young Inc., as information officer of
Canadian court; RBC Capital Markets, as investment banker; FTI
Consulting as financial advisor; and Epiq Solutions, as claims and
noticing agent.

Midway Gold Corp. disclosed $184 million in assets and $62.4
million in liabilities as of March 31, 2015.  Midway Gold US Inc.,
disclosed total assets of $2,461,673 and total liabilities of  
$122,448,181 as of the Chapter 11 filing.

In July, the U.S. Trustee overseeing the Debtors' cases appointed
seven creditors to serve on the official committee of unsecured
creditors.  The creditors are American Assay Laboratories, EPC
Services Company, InFaith Community Foundation, Jacobs Engineering
Group Inc., SRK Consulting (US) Inc., Sunbelt Rentals, and Boart
Longyear.  Gavin/Solmonese LLC serves as its financial advisor.


MILLENNIUM HEALTH: Completes Restructuring, Exits Chapter 11
------------------------------------------------------------
Millennium Health on Dec. 21 disclosed that it has completed the
steps necessary to implement its financial restructuring and
emerged from its chapter 11 reorganization on December 18, 2015,
less than forty (40) days after it filed its prepackaged chapter 11
cases on November 10, 2015.

"This is an exciting day for Millennium.  We have officially
completed our financial restructuring and we emerge as a stronger
company with substantially less debt, new ownership, and a more
efficient corporate structure.  The restructuring provides a much
improved balance sheet, greater liquidity and allows the company to
put more of the cash it generates toward future growth and success
of the business.  There remains much uncertainty in our industry,
but these changes will afford us the greatest opportunity to be a
successful organization for years to come.  The Court characterized
this process as a 'fresh start' for Millennium, and we embrace that
opportunity," said Chief Executive Officer Brock Hardaway.

"The fact we were able to complete the restructuring process in
just over a month is a testament to the hard work, loyalty and
support of many groups to whom I'd like to extend my gratitude on
behalf of the Company," said Mr. Hardaway.  "First, I'd like to
thank our employees for their dedication, effort and perseverance
through this process.  I would also like to thank our customers and
suppliers for their unwavering support.  Finally, I would like to
express my appreciation for the professionalism and commitment of
our existing lenders, current equity holders and our legal and
financial advisors.  Their collective efforts were crucial to the
successful completion of this process."

On December 18, 2015, the U.S. Bankruptcy Court for the District of
Delaware confirmed Millennium Health's Plan of Reorganization.

Millennium Health is represented by Skadden Arps Slate Meagher &
Flom.

Millennium Healthcare Inc. is a medical device and healthcare
support and services company based in Garden City, New York.  The
Company purchases, supplies and distributes medical devices and
equipment focused on preventative care through early detection.


MOKO SOCIAL: Receives Nasdaq Listing Non-Compliance Notice
----------------------------------------------------------
MOKO Social Media Limited on Dec. 11 disclosed that it has received
a letter from The Nasdaq Stock Market on December 7, 2015
indicating that the Company does not currently meet the NASDAQ
Listing Rule requirement to maintain a minimum Market Value of
Publicly Held Shares (MVPHS) of US$50,000,000.  This minimum MVPHS
is required for continued listing on the The NASDAQ Global Market
(Global Market) and is set forth in Nasdaq Marketplace Rule
5450(b)(2)(A).

The NASDAQ Listing Rules provide the Company with a compliance
period of 180 calendar days in which to regain compliance.  If at
any time during the compliance period ending June 6, 2016, the
Company's MVPHS closes at US$50,000,000 or more for a minimum of 10
consecutive business days, NASDAQ will provide written confirmation
of compliance.

MOKO's management is reviewing various options available to the
Company, including regaining compliance and continued listing on
the Global Market and applying for a transfer to The NASDAQ Capital
Market (Capital Market), the next market tier of the NASDAQ.  In
the event the Company does not regain compliance with the MVPHS or
transfer to the Capital Market, its shares will be subject to
delisting from NASDAQ.

In October 2015, the Company announced its decision to focus on its
products targeting the high school and college student market.
This was made on the basis that the U.S. student audience is among
the most valuable to brands and advertisers and provides the best
potential for future monetization.  Good progress is being made
with our new strategy and we are hopeful of providing further
positive updates to the market between now and the end of the
current college year.

                 About MOKO Social Media Limited

MOKO Social Media is at the forefront of the next generation in
social media, providing innovative products and content to enable
communities to engage and interact.  MOKO provides tailored content
for high value, niche user groups including students, political
supporters and active lifestyle participants: communities that
share common interests and need to engage regularly and
efficiently.  Within its student space, MOKO is a mobile leading US
college intramural and recreational sports platform.  Agreements
with the largest college and high school sports data providers in
the US grant MOKO exclusive access to provide its award-winning app
REC*IT, and BigTeams powered by REC*IT, to 1,100 US colleges,
representing approximately 50% of the US college population, and to
over 4,400 US high schools respectively.

MOKO aims to capture its target audiences by becoming their
destination of choice for information and interaction.  It does
this by creating highly relevant and exclusive content, and by
providing the platforms that enable the communities to consume and
share the content seamlessly across devices.  This integrated
approach gives MOKO unique and exclusive exposure to markets that
are highly desired by advertisers and that can be leveraged for
growth and revenue through advertising, sponsorship, social network
distribution and other monetization of the platforms.


NEMUS BIOSCIENCE: Going Concern Doubt Exists, Says Management
-------------------------------------------------------------
Nemus Bioscience, Inc. had a net loss of $1,182,792 for the three
months ended September 30, 2015, as compared to a net loss of
$858,518 for the three months ended September 30, 2014.  

"We expect to incur net losses for the foreseeable future," Brian
Murphy, chief executive officer, and Elizabeth Berecz, chief
financial officer of the company said in a regulatory filing with
the U.S. Securities and Exchange Commission dated November 12,
2015.  "The company has incurred operating losses and negative cash
flows from operations since our inception. As of September 30,
2015, we had cash and cash equivalents of $4,342,722.  The company
anticipates that it will continue to incur net losses into the
foreseeable future as it continues to advance and develop a number
of potential drug candidates into preclinical development
activities and expands its corporate infrastructure which includes
the costs associated with being a public company.  Without
additional funding, management believes that the company will not
have sufficient funds to meet its obligations within one year after
the date the consolidated financial statements are issued.

"These conditions give rise to substantial doubt as to the
company's ability to continue as a going concern."

According to Mr. Murphy and Ms. Berecz: "The company plans to
continue to fund its losses from operations and capital funding
needs through public or private equity or debt financings,
strategic collaborations, licensing arrangements, asset sales,
government grants or other arrangements.

"During the next twelve months, we expect to incur significant
research and development expenses with respect to our products.
The majority of our research and development activity is focused on
development of potential drug candidates and preclinical trials.

"We also expect to incur significant legal and accounting costs in
connection with being a public company.  We expect those fees will
be significant and will continue to impact our liquidity. Those
fees will be higher as our business volume and activity increases.


"We anticipate that we will need to hire additional employees or
independent contractors for our new laboratory at the University of
Mississippi (UM).  We also anticipate that we will need to purchase
or lease additional equipment for the company's headquarters and
laboratory facilities.

"However, the company cannot be sure that such additional funds
will be available on reasonable terms, or at all.  If the company
raises additional funds by issuing equity securities, substantial
dilution to existing stockholders would result. If the company is
unable to secure adequate additional funding, the company may be
forced to make a reduction in spending, extend payment terms with
suppliers, liquidate assets where possible, and/or suspend or
curtail planned programs.

"We have been, and intend to continue, working toward identifying
and obtaining new sources of financing.  No assurances can be given
that we will be successful in obtaining additional financing in the
future.  Any future financing that we may obtain may cause
significant dilution to existing stockholders.  Any debt financing
or other financing of securities senior to common stock that we are
able to obtain will likely include financial and other covenants
that will restrict our flexibility.  Any failure to comply with
these covenants would have a negative impact on our business,
prospects, financial condition, results of operations and cash
flows.

"If adequate funds are not available, we may be required to delay,
scale back or eliminate portions of our operations or obtain funds
through arrangements with strategic partners or others that may
require us to relinquish rights to certain of our assets.
Accordingly, the inability to obtain such financing could result in
a significant loss of ownership and/or control of our assets and
could also adversely affect our ability to fund our continued
operations and our expansion efforts."

At September 30, 2015, the company had total assets of $4,541,520,
total liabilities of $3,515,355, and total stockholders' deficit of
$594,294.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/gl4x27j

Nemus Bioscience, Inc. is a biopharmaceutical company based in
Costa Mesa, California.  The company is focused on the discovery,
development and the commercialization of cannabis-based
therapeutics or cannabinoids through its partnership with the
University of Mississippi.  



NEWARK WATERSHED: Former Head Pleads Guilty
-------------------------------------------
The Associated Press reported that the former head of the
not-for-profit corporation that oversaw Newark's water services
pleaded guilty on Dec. 21 to taking nearly $1 million in kickback
payments in exchange for awarding work to vendors and contractors.

According to the report, Linda Watkins-Brashear pleaded guilty to
one count of theft of honest services wire fraud and one count of
filing false tax returns. She faces as many as 20 years in prison
when she is sentenced in April.

                      About Newark Watershed

Newark, New Jersey-based Newark Watershed Conservation and
Development Corporation filed for Chapter 11 protection (Bankr.
D.N.J. Case No. 15-10019) on Jan. 2, 2015.  The petition was
signed
by Joseph M. Hartnett, interim executive director.

The Hon. Donald H. Steckroth presides over the case.  Donald W.
Clarke, Esq., and Daniel Stolz, Esq., at Wasserman, Jurista &
Stolz, P.C., represents the Debtor in its Chapter 11 case.

The Debtor disclosed total assets of $202,489 and total
liabilities
of $2.07 million.


ORLANDO GATEWAY: Creditors' New Plan Mulls Reorganization or Sale
-----------------------------------------------------------------
Following mediation, SummitBridge National Investment IV LLC, and
Good Gateway, LLC, et al., have decided to combine their competing
reorganization plans for debtors Nilhan Hospitality and Orlando
Gateway Partners by filing a joint plan.  The filing of the joint
plan narrows the competing plans in the Debtors' cases from three
to two -- one plan filed by the Debtors themselves, and the joint
plan filed by the creditors.

As reported in the Oct. 1, 2015 edition of the TCR, debtors Nilhan
Hospitality and Orlando Gateway Partners are proposing a
reorganization plan that contemplates holding an auction to select
a new investor who will get 100% of the ownership and control of
the Debtors' properties in exchange for funding all plan payments.

Good Gateway and SEG Gateway, which had won $12 million judgments
in a state court lawsuit filed against the Debtors' owner and the
Debtors, previously proposed a plan that will let real estate
developer Carson Good take 100% of the ownership and control of the
Debtors' properties from current owner Chittranjan Thakkar in
exchange for funding all plan payments.  Secured creditor
SummitBridge on the other hand proposed a reorganization plan the
Debtors, intending to facilitate a prompt sale of the Debtors'
property and prompt distributions to holders of claims.

On Dec. 15, 2015, the Good parties and SummitBridge submitted a
proposed Joint Amended and Combined Plan of Reorganization for the
Debtors.  A copy of the explanatory Disclosure Statement is
available for free at:

   http://bankrupt.com/misc/Orlando_G_106_DS_Cred_Joint_Plan.pdf

The Joint Plan is designed to facilitate either a reorganization
through the Day 90 reorganization option or a prompt sale of the
assets and prompt distributions to holders of allowed claims
through either the Day 90 Sale Option or the Day 180 Sale Option.

In general terms, the Plan consummation options are as follows:

   * Under the Day 90 Sale Option, if SEG and Good Gateway file
with the Bankruptcy Court the Day 90 Sale Proceed Notice prior to
Feb. 3, 2016, then the Plan will be automatically modified to adopt
provision of the day 90 Sale Option and to effectuate the sale of
the assets of the Debtors through the auction which will be
consummated on or before Day 90.

   * Under the Day 90 Reorganization Option, if the Class 2 Claim
of SummitBridge is indefeasibly paid in full on or prior to Day 90,
which is 90 days after the entry of the Confirmation Order, through
means other than the Sale, then the Plan will effectuate a
reorganization of the Estates pursuant to the terms of the Plan
that will occur on Day 90.

   * Under the Day 180 Sale Option, if, however, the Day 90
Reorganization Date does not timely occur and the Day 90 Sale
Option is not exercised, then under the Day 180 Sale Option the
Assets will be subject to the Sale through the Auction which will
be consummated on or before Day 180.

In all instances, the Plan Representative will be appointed
pursuant to the Confirmation Order and will begin to administer the
Estates on the Effective Date.

Under the Day 90 Reorganization Option, the Reorganized Debtors
will, after the Day 90 Reorganization Date, be owned and operated
by Newco, whose principal will be Mr. Carson Good, an experienced
commercial real estate developer.

Under the Day 90 Sale Option and Day 180 Sale Option, an auction
will be conducted and no bid will be accepted unless it provides a
cash payment at closing adequate to pay the secured claim of
SummitBridge in full.  SummitBridge will be entitled to credit bid
its entire claim.

The Joint Plan proposes to treat claims as follows:

   * On the Effective Date, holders of allowed administrative
claims will be paid in full.

   * Holders of allowed unsecured priority tax claims (which does
not include ad valorem tax claims) will be paid by the Reorganized
Debtors, with interest, over a period of five years.

   * The holders of allowed secured claims of Good Gateway and SEG
(Class 1, SummitBridge (Class 2), and Orange County Tax Collector
(Classes 3, 4, 5 and 6) will retain their respective liens on the
subject properties and be paid in full from the auction or over
time.  In a Day 90 Reorganization Option, (a) SEG and Good Gateway
will be paid within 3 years after the date of final adjudication of
the Appeals, with claims to accrue interest 5% per annum, and (b)
Summit, with a claim of not less than $5.29 million, will be paid
in full no later than Day 90, with the pay off amount calculated
using the non-default interest rate.  In the Sale Options, (a) Good
Gateway and SEG will be paid from the sales proceeds after the
determination by the Bankruptcy Court or agreement with NIlhan
Financials of the claims relative priority, and (b) the assets of
the Debtors will be transferred to SummitBridge in exchange for a
credit bid of its allowed claim, or if the sale results in a sale
to another party, then SummitBridge will be paid from the proceeds
of the sale.

   * The holders of allowed secured tax claims will be paid in
full, with interest accruing at the Statutory Rate, either from the
auction or over a period of five years from the Petition Date.

   * All claims of general unsecured creditors except for any
allowed unsecured deficiency claim of Nilhan Financial will be paid
in full, either from the proceeds of the sale, or from Newco on the
Maturity Date.

   * The allowed unsecured claim of Nilhan Financial, which
includes any deficiency claim, will be paid from the proceeds of
the sale or from the causes of auction after payment in full of all
allowed general unsecured claims.

   * All membership interest in the Debtors existing as of the
Petition Date will be extinguished on the Effective Date.  Under
the Day 90 Reorganization Option, the equity interests in the
Reorganized Debtors will be issued to Newco in exchange for Newco's
commitment to fund the Plan Payments, the Class 7 Debt Service
Reserve, the Classes 8 and 9 Payoff, and all legal costs and
expenses to pursue the causes of action.

               Confirmation Hearing on Feb. 10

The Disclosure Statement Hearing Joint Amended and Combined
Disclosure Statement submitted by Good Gateway and SEG Gateway, and
Summitbridge has been conditionally approved by the Court.  If any
party has an objection to the disclosure statement, a written
objection must be submitted by Jan. 15, 2016.  The confirmation
hearing is set for Feb. 10, 2016 at 9:00 am.

                    About Orlando Gateway

Nilhan Hospitality, LLC, owns approximately 15.75 acres of
commercial real estate located near the Orlando International
Airport on the West side of South Semoran Boulevard and North of
the State Road 528/The Beachline Expressway.  One parcel
(approximately 7.27 acres) has been partially developed as and has
two buildings located at 5463 Gateway Village Circle and 5475
Gateway Village Circle, which are approximately 15,000 square feet
in size.  

Orlando Gateway Partners, LLC, owns approximately 47.95 acres of
commercial real estate located near the Orlando International
Airport on the West side of South Semoran Boulevard and North of
the State Road 528/The Beachline Expressway.  The property is
comprised of four separate parcels, one parcel (approximately 17
acres) has been partially developed and a portion of it is leased
to Sixt Rent-A-Car, LLC. The second parcel (approximately .14
acres) is rented to Clear Channel Worldwide and contains a
billboard. The remaining two parcels (approximately 10.75 and
20.10
acres respectively) are vacant.

Nilhan Hospitality and Orlando Gateway and related entities have
been involved in extensive litigation with Good Gateway, LLC, SEG
Gateway, LLC and other parties since 2009.  In October 2014,
separate judgments were entered in favor of SEG and Good Gateway.

To prevent the assets from being sold at judicial foreclosure
sales, Nilhan Hospitality and Orlando Gateway Partners commenced
Chapter 11 bankruptcy cases (Bankr. M.D. Fla. Case No.15-03447 and
15-03448, respectively) in Orlando, Florida on April 20, 2015.

Chittranjan "Chuck" Thakkar owns 70% of the Nilhan's outstanding
membership interests, and indirectly owns and controls OGP.
Thakkar, as manager, signed the bankruptcy petitions.

Nilhan estimated $1 million to $10 million in assets and $10
million to $50 million in debt while Orlando Gateway estimated
at least $10 million in assets and debt.

The Debtors are represented by Kenneth D Herron, Jr., Esq.,
at Wolff, Hill, McFarlin & Herron, P.A.

                          *    *    *

The Debtors, with the consent of Good Gateway and SEG, have won
from the Bankruptcy Court an order lifting the automatic stay to
allow their appeals of the judgments to go forward.

On June 8, 2015, the U.S. Trustee filed a motion to dismiss or
convert to Chapter 7 the Debtors' bankruptcy cases.  On June 15,
2015, the Good Gateway and SEG file a motion to appoint a Chapter
11 trustee for the Debtors.  On June 16, 2015, the Debtors filed
their Application to Retain Larry S. Hyman, CPA, as Restructuring
Advisor and Chief Restructuring Officer.  Following mediation, the
parties agreed that (i) the Debtors would withdraw the Hyman
Application; (ii) the Trustee motions would be withdrawn, and the
(iii) the Debtors would file an application to employ Tery Soifer
as CRO.

On Aug. 12, 2015, the Court entered an order denying the motion to
dismiss the Chapter 11 cases.  The Court also entered an order
terminating the Debtors' exclusive periods to propose a Chapter 11
plan as of July 31, 2015.

Three competing plans were filed in the Chapter 11 cases by: (1)
the Debtors, (ii) Good Gateway and SEG, and (iii) secured creditor
SummitBridge National Investments IV LLC.

After mediation by the parties, Good Gateway and SEG Gateway, and
Summitbridge opted to file a combined Chapter 11 plan that provides
for reorganization and sale options.


ORLANDO GATEWAY: Good and SEG Say Debtors' Plan Unconfirmable
-------------------------------------------------------------
Good Gateway, LLC, SEG Gateway, LLC, said in a filing that the
Bankruptcy Court shouldn't bother approving the disclosure
statement explaining debtors Orlando Gateway Partners, LLC, and
Nilhan Hospitality, LLC's proposed reorganization plan as the Plan
is "patently unconfirmable and proceeding toward a contested
confirmation hearing would be futile and a waste of time,
resources, and expense."

Good and SEG argue, among other things, that the Plan is patently
unconfirmable because it does not satisfy 11 U.S.C. Sec.
1129(a)(8).

"First, Debtors' Class 2, 3 and 4 creditors have proposed their own
Joint Amended and Combined Plan of Reorganization for Nilhan
Hospitality and Orlando Gateway Partners, LLC. Being that Debtor's
Creditors have elected to pursue their own plan, their votes will
not be cast in favor of Debtors' Plan and therefore, Debtors will
not be able to achieve the vote of a single impaired non-insider
class.  Further, the Plan1 proposed by Creditors presents a
superior avenue for satisfying Debtors' various claims. Creditors'
Plan provides for the prompt reorganization or sale of Debtors'
assets within 180 days after entry of an Order Confirming
Creditors' Plan.  Whereas, Debtors' Plan provides a speculative, at
best, proposal of repayment in full to its general unsecured
creditors within one year from the Effective Date of the Plan.
Debtors' Plan represents an inferior proposal and provides no basis
for garnering accepting votes over the Plan proposed by Creditors,"
R. Scott Shuker, Esq., at Latham, Shuker, Eden & Beaudine, LLP,
explains.

Good Gateway and SEG also argue that the Plan is patently
unconfirmable because it does not satisfy Sec. 1129(a)(3), which
requires a plan to be proposed in good faith.

"[The] Debtors never requested or obtained court approval for the
various undisclosed transactions noted above, nor have the Debtors
complied with this Court's order directing amendment of the
Debtors' schedules, as a result, these post-petition acts clearly
constitute violations of the Bankruptcy Code and the Federal Rules
of Bankruptcy Procedure.  This is not the "honest but unfortunate
debtor" that our system of bankruptcy envisions. Debtors have
consistently disregarded orders of this Court and its
responsibilities as Debtors in Possession," Mr. Shuker tells the
Court.

Attorneys for Good Gateway and SEG Gateway:

         R. Scott Shuker, Esq.
         LATHAM, SHUKER, EDEN &BEAUDINE, LLP
         111 N. Magnolia Ave, Suite 1400
         P.O. Box 3353 (32802-3353)
         Orlando, FL 32801
         Tel: (407) 481-5800
         Fax: (407) 481-5801
         E-mail: rshuker@lseblaw.com

                      The Debtors' Plan

As reported in the Oct. 1, 2015 edition of the TCR, debtors Nilhan
Hospitality and Orlando Gateway Partners are proposing a
reorganization plan that contemplates holding an auction to select
a new investor who will get 100% of the ownership and control of
the Debtors' properties in exchange for funding all plan payments.

Under the Plan, the existing membership interests of current owner
Chittranjan Thakkar will be extinguished, and the Debtor will issue
new membership interests through an auction sale with the new
capital being used to fund, in part, payments due under the Plan.

A copy of the Debtors' Disclosure Statement Sept. 18, 2015, is
available for free at:

       http://bankrupt.com/misc/Orlando_G_78_Debtors_DS.pdf

                    About Orlando Gateway

Nilhan Hospitality, LLC, owns approximately 15.75 acres of
commercial real estate located near the Orlando International
Airport on the West side of South Semoran Boulevard and North of
the State Road 528/The Beachline Expressway.  One parcel
(approximately 7.27 acres) has been partially developed as and has
two buildings located at 5463 Gateway Village Circle and 5475
Gateway Village Circle, which are approximately 15,000 square feet
in size.  

Orlando Gateway Partners, LLC, owns approximately 47.95 acres of
commercial real estate located near the Orlando International
Airport on the West side of South Semoran Boulevard and North of
the State Road 528/The Beachline Expressway.  The property is
comprised of four separate parcels, one parcel (approximately 17
acres) has been partially developed and a portion of it is leased
to Sixt Rent-A-Car, LLC. The second parcel (approximately .14
acres) is rented to Clear Channel Worldwide and contains a
billboard. The remaining two parcels (approximately 10.75 and
20.10
acres respectively) are vacant.

Nilhan Hospitality and Orlando Gateway and related entities have
been involved in extensive litigation with Good Gateway, LLC, SEG
Gateway, LLC and other parties since 2009.  In October 2014,
separate judgments were entered in favor of SEG and Good Gateway.

To prevent the assets from being sold at judicial foreclosure
sales, Nilhan Hospitality and Orlando Gateway Partners commenced
Chapter 11 bankruptcy cases (Bankr. M.D. Fla. Case No.15-03447 and
15-03448, respectively) in Orlando, Florida on April 20, 2015.

Chittranjan "Chuck" Thakkar owns 70% of the Nilhan's outstanding
membership interests, and indirectly owns and controls OGP.
Thakkar, as manager, signed the bankruptcy petitions.

Nilhan estimated $1 million to $10 million in assets and $10
million to $50 million in debt while Orlando Gateway estimated
at least $10 million in assets and debt.

The Debtors are represented by Kenneth D Herron, Jr., Esq.,
at Wolff, Hill, McFarlin & Herron, P.A.

                          *    *    *

The Debtors, with the consent of Good Gateway and SEG, have won
from the Bankruptcy Court an order lifting the automatic stay to
allow their appeals of the judgments to go forward.

On June 8, 2015, the U.S. Trustee filed a motion to dismiss or
convert to Chapter 7 the Debtors' bankruptcy cases.  On June 15,
2015, the Good Gateway and SEG file a motion to appoint a Chapter
11 trustee for the Debtors.  On June 16, 2015, the Debtors filed
their Application to Retain Larry S. Hyman, CPA, as Restructuring
Advisor and Chief Restructuring Officer.  Following mediation, the
parties agreed that (i) the Debtors would withdraw the Hyman
Application; (ii) the Trustee motions would be withdrawn, and the
(iii) the Debtors would file an application to employ Tery Soifer
as CRO.

On Aug. 12, 2015, the Court entered an order denying the motion to
dismiss the Chapter 11 cases.  The Court also entered an order
terminating the Debtors' exclusive periods to propose a Chapter 11
plan as of July 31, 2015.

Three competing plans were filed in the Chapter 11 cases by: (1)
the Debtors, (ii) Good Gateway and SEG, and (iii) secured creditor
SummitBridge National Investments IV LLC.

After mediation by the parties, Good Gateway and SEG Gateway, and
Summitbridge opted to file a combined Chapter 11 plan that provides
for reorganization and sale options.


ORLANDO GATEWAY: Mediation Results to Joint Plan by Creditors
-------------------------------------------------------------
Harley E. Riedel, in his capacity as mediator in the Chapter 11
cases of Nilhan Hospitality and Orlando Gateway Partners, said that
mediations conducted on July 21, 2015, and on Dec. 7, 2015,
resulted in an agreement by creditors to file a joint Chapter 11
plan for the Debtors.

The Mediator was engaged to mediate various disputes involving the
Debtors, SummitBridge National Investment IV LLC, Good Gateway,
LLC, SEG Gateway, LLC, and Carson Good, and Nilhan Financial, LLC.
All parties attended the mediation session through counsel and with
client representatives.

The mediation resulted in a partial settlement and the filing of an
Amended and Combined Joint Plan between Good Gateway, SEG, Carson,
and SummitBridge.  Subject to confirmation and funding of the Joint
Plan, the disputes between these parties have been resolved.

The mediation between Nilhan, Orlando, Good Gateway, SEG, Carson,
and Nilhan Financial has not resulted in a settlement.  Although
considerable progress was made in narrowing the differences between
the parties, no further mediation sessions are scheduled or appear
appropriate at this time.  It is the Mediator's recommendation that
there be no delay in judicial proceedings based upon continuing
mediation. In fact, although they have indicated that they will
continue good faith discussions if the mediator believes that
further progress can be made, Good Gateway, SEG, and Carson have
indicated that their preference would be that the mediator
immediately declare an impasse.  But, because there may be some
continuing benefit to utilizing the mediation privilege to bring
the parties to a settlement, the Mediator is not formally declaring
an impasse at this time.  The Mediator said Dec. 16 intends to file
a Notice of Impasse in 10 days unless further progress takes place
within that time.

The Mediator can be reached at:

         Harley E. Riedel, Esq.
         STICHTER, RIEDEL, BLAIN & PROSSER, P.A.
         110 Madison Street - Suite 200
         Tampa, Florida 33602
         Tel: (813) 229-0144
         Fax: (813) 229-1811
         E-mail: hriedel@srbp.com

Attorneys for Debtors:

         Kenneth D. (Chip) Herron, Jr.
         WOLFF, HILL, MCFARLIN & HERRON, P.A.
         1851 W. Colonial Drive
         Orlando, Florida 32804

Attorneys for SummitBridge National Investment IV LLC:

         Richard A. Robinson, Esq.
         REED SMITH LLP
         1201 N Market St ., Ste. 1500
         Wilmington, DE 19801-1163

Attorneys for Good Gateway and SEG Gateway and Carson Good:

          R Scott Shuker, Esquire
          Latham Shuker Eden & Beaudine L L P
          111 N Magnolia Ave., Ste. 1400
          Orlando, FL 32801-2367

Co-counsel for Good Gateway and SEG Gateway:

          Clay Martin Townsend, Esquire
          LAW OFFICES OF CLAY M. TOWNSEND, ATTYS. AT LAW
          20 N. Orange Ave., Fl. 16
          Orlando, FL 32801-2414

Attorneys for Nilhan Financial:

          Michael A. Tessitore
          MORAN * KIDD * LYONS * JOHNSON, P.A.
          111 North Orange Avenue, Suite 900
          Post Office Box 472
          Orlando, Florida 32802-0472

                    About Orlando Gateway

Nilhan Hospitality, LLC, owns approximately 15.75 acres of
commercial real estate located near the Orlando International
Airport on the West side of South Semoran Boulevard and North of
the State Road 528/The Beachline Expressway.  One parcel
(approximately 7.27 acres) has been partially developed as and has
two buildings located at 5463 Gateway Village Circle and 5475
Gateway Village Circle, which are approximately 15,000 square feet
in size.  

Orlando Gateway Partners, LLC, owns approximately 47.95 acres of
commercial real estate located near the Orlando International
Airport on the West side of South Semoran Boulevard and North of
the State Road 528/The Beachline Expressway.  The property is
comprised of four separate parcels, one parcel (approximately 17
acres) has been partially developed and a portion of it is leased
to Sixt Rent-A-Car, LLC. The second parcel (approximately .14
acres) is rented to Clear Channel Worldwide and contains a
billboard. The remaining two parcels (approximately 10.75 and
20.10
acres respectively) are vacant.

Nilhan Hospitality and Orlando Gateway and related entities have
been involved in extensive litigation with Good Gateway, LLC, SEG
Gateway, LLC and other parties since 2009.  In October 2014,
separate judgments were entered in favor of SEG and Good Gateway.

To prevent the assets from being sold at judicial foreclosure
sales, Nilhan Hospitality and Orlando Gateway Partners commenced
Chapter 11 bankruptcy cases (Bankr. M.D. Fla. Case No.15-03447 and
15-03448, respectively) in Orlando, Florida on April 20, 2015.

Chittranjan "Chuck" Thakkar owns 70% of the Nilhan's outstanding
membership interests, and indirectly owns and controls OGP.
Thakkar, as manager, signed the bankruptcy petitions.

Nilhan estimated $1 million to $10 million in assets and $10
million to $50 million in debt while Orlando Gateway estimated
at least $10 million in assets and debt.

The Debtors are represented by Kenneth D Herron, Jr., Esq.,
at Wolff, Hill, McFarlin & Herron, P.A.

                          *    *    *

The Debtors, with the consent of Good Gateway and SEG, have won
from the Bankruptcy Court an order lifting the automatic stay to
allow their appeals of the judgments to go forward.

On June 8, 2015, the U.S. Trustee filed a motion to dismiss or
convert to Chapter 7 the Debtors' bankruptcy cases.  On June 15,
2015, the Good Gateway and SEG file a motion to appoint a Chapter
11 trustee for the Debtors.  On June 16, 2015, the Debtors filed
their Application to Retain Larry S. Hyman, CPA, as Restructuring
Advisor and Chief Restructuring Officer.  Following mediation, the
parties agreed that (i) the Debtors would withdraw the Hyman
Application; (ii) the Trustee motions would be withdrawn, and the
(iii) the Debtors would file an application to employ Tery Soifer
as CRO.

On Aug. 12, 2015, the Court entered an order denying the motion to
dismiss the Chapter 11 cases.  The Court also entered an order
terminating the Debtors' exclusive periods to propose a Chapter 11
plan as of July 31, 2015.

Three competing plans were filed in the Chapter 11 cases by: (1)
the Debtors, (ii) Good Gateway and SEG, and (iii) secured creditor
SummitBridge National Investments IV LLC.

After mediation by the parties, Good Gateway and SEG Gateway, and
Summitbridge opted to file a combined Chapter 11 plan that provides
for reorganization and sale options.


OVERLAND PARK: Fitch Affirms 'BB' Rating on $62.685MM Bonds
-----------------------------------------------------------
Fitch Ratings has affirmed these bonds for Overland Park
Development Corporation, Kansas (the corporation):

   -- $62.685 million outstanding second tier refunding revenue
      bonds, series 2007B (Overland Park convention center hotel
      project) at 'BB'.

The Rating Outlook is Stable.

SECURITY

The bonds are special limited obligations payable from a
subordinate lien on the net operating revenues of the convention
hotel, a senior lien on a 4.5% citywide transient guest tax (TGT),
subject to annual appropriation, and a cash funded debt service
reserve funded to the IRS standard.  The bonds also have a
leasehold interest on the convention hotel and a subordinate lien
on the 1.5% TGT supporting the superior lien bonds.

KEY RATING DRIVERS

INSUFFICIENT COVERAGE FROM TAX REVENUE: The speculative grade 'BB'
rating reflects the below sum-sufficient coverage of maximum annual
debt service (MADS) from the dedicated 4.5% portion of the TGT.

NOMINAL CREDIT FOR NON-TAX REVENUE: Fitch gives little weight in
its rating to the subordinate pledge of net operating revenue from
the single site convention center hotel given its erratic history
and the difficulty in quantifying future revenues.  Fitch believes
at least a portion of the 1.5% tax is likely to be necessary for
senior lien debt service, thus not fully available for series 2007B
bond repayment.

ASCENDING DEBT SERVICE: Continued revenue growth from the citywide
hotel tax and/or operations of the convention center hotel is
necessary to sufficiently service the ascending debt service load
without using the debt service reserve fund.

STRONG LOCAL ECONOMY: Fitch believes the city's deep and diverse
economy supports sustainable long-term hotel demand.

RATING SENSITIVITIES

CHANGES IN COVERAGE: Sustained deterioration in TGT collections
would present a credit concern and could lead to a rating
downgrade.  Conversely, increased collections sufficient to
demonstrate coverage of MADS by historical pledged revenues and
available debt service reserves without use of non-tax revenues
could lead to an upgrade to 'BB+'.  Improvement leading to MADS
coverage consistently in excess of 1x by just historical pledged
4.5% TGT revenues could lead to an upgrade to an investment grade
rating.

CREDIT PROFILE

The corporation is a component unit of the city of Overland Park
(GO bonds rated 'AAA' by Fitch), which benefits from its proximity
to the Kansas City metro area.  The not-for-profit corporation was
created for the sole purpose of constructing and owning a 412-room
convention hotel located adjacent to the city's convention center.
The corporation board is comprised of six members of the city's
governing body, appointed by the mayor and approved by the city
council.

The convention hotel opened in December 2002 and is operated as a
Sheraton hotel under a hotel operating agreement with Starwood
Hotels & Resort (IDR rated 'BBB' with a Positive Outlook) that
expires in November 2022.  The city's convention center opened in
2002 and primarily hosts regional business and community needs in
60,000 square feet of exhibit space and a 25,000 square foot
ballroom.

LEGAL STRUCTURE

Primary support for the rating is derived from the coverage
generated from the first lien on the 4.5% and second lien on the
1.5% citywide TGT imposed upon the roughly 5,300 available hotel
rooms located within the city.  A citywide hotel tax has been
levied since 1982 and is collected by the state and remitted to the
city quarterly net of a 2% collection fee.

Overland Park has covenanted to budget sufficient citywide hotel
tax revenues to pay the next year's debt service on the bonds
pursuant to a debt service support agreement between the city and
the corporation.  However, the allocation of TGT revenues is
subject to annual appropriation and is capped at amounts received
solely from the 4.5% and 1.5% TGT.  Once the city appropriates
funds, the obligation is absolute and unconditional without
abatement, deduction or set-off and counterclaim.

The bonds also have a subordinate pledge of net revenues from the
convention hotel.  Fitch gives this pledge little weight.  In
recent years, net hotel revenues have provided support for the
superior lien bonds, thus freeing up much of the additional 1.5%
TGT revenues upon which the series 2007B bonds have a subordinate
lien.  However, the ascending debt service schedule and variability
of net hotel revenues make it uncertain that this will continue to
the same extent.  Debt service on both series of bonds grows at a
compound annual rate of about 2.8% through maturity in 2032.  Debt
service on the Fitch-rated bonds comprises 60% of total debt
service.

The commitment of citywide TGT revenues can be released if debt
service coverage from net revenues of the convention hotel exceeds
2.25x for three consecutive calendar years.  However, these
revenues would be reinstated if coverage subsequently fell below
1.75x at any time through maturity.  Other legal provisions, which
would only provide meaningful credit support in the unlikely event
that the hotel tax commitment is released, include the crediting of
all convention hotel revenues under a lockbox agreement with the
trustee, and a 1.05x rate covenant.

HISTORICAL REVENUES AND COVERAGE

The citywide hotel tax experienced a compounded annual growth rate
of 6.1% between 1994 and 2006, but declined notably during the
recession, immediately following issuance of the bonds.  Revenues
have increased each year since 2011, and appear poised for an
increase of over 10% for 2015 based on actual data for three
quarters.

GROWTH REQUIREMENTS of 4.5% TGT FOR COVERAGE

The ascending debt service schedule makes future coverage by only
4.5% TGT revenues a challenge.  In 2014, these revenues alone cover
MADS by 0.7x.  Annual growth of 2.0% would allow sum-sufficient
MADS coverage without use of other pledged sources or the $6.6
million cash-funded debt service reserve.  With no revenue growth,
the debt service reserve would be exhausted by 2029.

COMBINED PLEDGED REVENUE COVERAGE

The rating does not take into consideration any future benefit of
net operating revenues from the convention hotel, and assumes most
of the 1.5% TGT will be needed for senior lien debt service.
However, actual net operating revenues and other balances have
enhanced debt service coverage in recent years.  Total pledged
revenues including surplus funds after payment of senior lien
series 2007A bonds covered series 2007B debt service by 1.67x in
2014.  2014 combined pledged revenues (including net operating
revenues) cover MADS in 2032 by 1.0x.

ECONOMY DRIVES FUTURE HOTEL TAX PERFORMANCE

Citywide hotel occupancy historically has been driven by individual
and group business travelers.  Local demand for hotels wavered
somewhat in recent years due to both the protracted economic
recession and Sprint Corporation's reduced presence within the
city, but has rebounded well.  Several small hotels are opening in
the area.  The city encourages demand by tying economic incentives
to hotel usage and a recently constructed soccer/sports complex
contributes to hotel demand.  Additionally, there are several major
economic development projects in the city and surrounding areas.
Citywide hotel occupancy increased 2% year-to-date through
September 2015, and the average daily room rate is up 4.5%.

STRONG LOCAL ECONOMY

Overland Park is the second largest city in the state of Kansas and
located within the Kansas City metropolitan area.  The region
benefits from a deep and diverse local economy, an extensive
transportation network, available land, and a well-educated
workforce.  Several Fortune 500 companies are located within the
city.  The financial services and professional and business service
sectors account for a greater percentage of total countywide
employment compared to the national average.



PATRIOT COAL: Wants Authority to Enter LPT Transactions
-------------------------------------------------------
Patriot Coal Corporation and its affiliated Debtors ask the U.S.
Bankruptcy Court for the Eastern District of Virginia, Richmond
Division, to authorize them and the Liquidating Trustee, to enter
into Loss Portfolio Transfer ("LPT") Transactions.

The Debtors contend that they have entered into an Amended and
Restated Asset Purchase Agreement ("VCLF APA") with Virginia
Conservation Legacy Fund, Inc. ("VCLF"), ERP Settlement, LLC ("ERP
Settlement"), and ERP Compliant Fuels, LLC, as buyers, and the
Debtors, as sellers.  The Debtors further contend that ERP
Settlement, as maker, and Patriot Coal Corporation ("Patriot"), as
payee, entered into that certain Promissory Note, Earnout Agreement
and Security Agreement ("ERP Note").

The Debtors tell the Court that they posted surety bonds and
letters of credit to certain state agencies and insurance companies
("Workers' Compensation Collateral") to secure workers'
compensation obligations.  The Debtors further tell the Court that
they posted Workers' Compensation Collateral to American
International Group, Inc. and certain of its affiliates ("AIG") and
the Commonwealth of Kentucky ("Kentucky"), who have since drawn
certain of the Workers' Compensation Collateral.

The Debtors seek the Court's direction that such Workers'
Compensation Collateral be used for the sole purpose of satisfying
and securing the Debtors' workers' compensation obligations that
were assumed by VCLF and/or ERP Settlement and that any excess
collateral be returned to the Liquidating Trust for distribution in
accordance with the ERP Note and the VCLF APA.  The Debtors note
that pursuant to the VCLF APA, the Debtors sold and transferred to
VCLF all of the Debtors' rights and interests in the Workers'
Compensation Collateral subject to Patriot's rights and ERP
Settlement's obligations to Patriot under the ERP Note. The Debtors
further note that the terms of the ERP Note provide that Patriot is
entitled to repayment of principal and interest plus certain
portions of the Workers' Compensation Collateral to the extent
there is any excess, and that ERP Settlement is entitled to retain
the balance of any excess Workers' Compensation Collateral.

The Debtors assert that although AIG and Kentucky and other
insurers or state agencies may draw Workers' Compensation
Collateral, only ERP Settlement and the Liquidating Trust are
entitled to receive any excess Workers' Compensation Collateral.
The Debtor further assets that the Court should direct AIG and
Kentucky to adequately secure the Workers' Compensation Collateral
obtained from any draws thereof and to account for it such that all
of the excess collateral is preserved for the benefit of the
Liquidating Trust and/or ERP Settlement pursuant to the terms of
the VCLF APA and the ERP Note.

The Debtors tell the Court that in order to facilitate the return
to the Liquidating Trust of the excess collateral for the benefit
of the Liquidating Trust and/or ERP Settlement in accordance with
the terms of the VCLF APA and the ERP Note, they request authority
to enter into one or more loss portfolio transfers or other similar
transactions ("LPT Transaction") with one or more insurance
companies or financial institutions ("Financial Intermediary").

The Debtor notes that pursuant to an LPT Transaction, a Financial
Intermediary will assume the Debtors' workers' compensation
obligations that are owed to a state agency or insurance company,
and the state agency or insurance company, as applicable, will
agree to direct the bank that has issued the Workers' Compensation
Collateral to transfer the proceeds of such collateral or the
collateral itself to the Financial Intermediary or its designee or
to otherwise effectuate the transfer of the Workers' Compensation
Collateral to the Financial Intermediary or its designee.  The
Debtor further notes that the Financial Intermediary or its
designee will in turn be authorized by the relevant state agency or
insurance company to draw down on the Workers' Compensation
Collateral and return to the Liquidating Trust, for the benefit of
the Liquidating Trust and/or ERP Settlement in accordance with the
terms of the VCLF APA and the ERP Note, any amount agreed to by the
Liquidating Trust and the Financial Intermediary, in their own
discretion without further order of this Court. The Debtor adds
that the Liquidating Trust, in turn, will retain or distribute the
excess Workers' Compensation Collateral in accordance with the VCLF
APA and the ERP Note.

Patriot Coal Corporation is represented by:

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

                - and -

          Stephen E. Hessler, Esq.
          Patrick Evans, Esq.
          KIRKLAND & ELLIS LLP
          601 Lexington Avenue
          New York, NY 10022
          Telephone: (212)446-4800
          Facsimile: (212)446-4900
          Email: stephen.hessler@kirkland.com
                 patrick.evans@kirkland.com

                - and -

          James H.M. Sprayregen, Esq.
          Ross M. Kwasteniet, Esq.
          Justin R. Bernbrock, Esq.
          KIRKLAND & ELLIS LLP
          300 North LaSalle
          Chicago, IL 60654
          Telephone: (312)862-2000
          Facsimile: (312)862-2200
          E-mail: james.sprayregen@kirkland.com
                  ross.kwasteniet@kirkland.com
                  justin.bernbrock@kirkland.com

                 About Patriot Coal Corporation

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

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

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

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

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

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


PICO HOLDINGS: Eric Speron Named to Board; Julie Sullivan Resigns
-----------------------------------------------------------------
By Geoffrey J. Bailey -- gjbaileypb@hotmail.com -- PICO Holdings,
Inc., has appointed Eric Speron to its Board of Directors,
effective January 16, 2016.  Mr. Speron will be an independent
director as defined under Rule 5605(a)(2) of the NASDAQ Marketplace
Rules.

Mr. Speron, 35, is a Portfolio Manager and Investment Committee
member of First Foundation Advisors, of Irvine, California, which
owns 2.7% of PICO shares outstanding. The most recent Form 13F-HR
filed with the Securities and Exchange Commission indicates that
First Foundation Advisors owns 619,145 PICO shares. First
Foundation Advisors is not among PICO's 10 largest shareholders.

First Foundation Advisors also owns 248,844 shares of UCP Inc., a
consolidated PICO subsidiary.

Mr. Speron joined First Foundation Advisors in 2007 from JPMorgan's
Institutional Equity.  He is currently a member of the CFA
Institute and the Orange County Society of Financial Analysts. Mr.
Speron earned a Bachelor of Arts Degree with a double major from
Georgetown University where he was also voted Academic
All-American, Mid-Atlantic, for his academic and athletic
accomplishments.

"Eric is an outstanding addition to the PICO Board," said Kristina
M. Leslie, Chair of the PICO Board. "Eric's extensive familiarity
with PICO, his understanding of our business model and his
perspective as one of our largest shareholders can greatly benefit
PICO."

John R. Hart, PICO's President and Chief Executive Officer, said,
"Over the past few weeks we have had the chance to seek input from
many of our largest shareholders. We believe that the addition to
the PICO Board of a new independent director with the insights and
perspectives that come with being one of PICO's largest
institutional shareholders is responsive to the input we have
received from our shareholders. Given Eric's years of experience as
an investment management professional, we expect him to be a
tremendous resource for our Board as we work to return capital to
shareholders."

"I am excited to have the opportunity to serve on the PICO Board,"
said Mr. Speron. "I look forward to contributing my experience, as
well as the perspective and insight of an institutional investor,
to the PICO Board as it oversees PICO's continued execution of its
recently announced change in strategy and plans to return capital
to shareholders."

Mr. Speron will fill the vacancy left by Julie H. Sullivan, PhD,
who will resign after six years on the PICO Board.  Her resignation
is effective December 31, 2015.  The PICO 8-K filed with the SEC
notes, "Dr. Sullivan's resignation was not in connection with a
disagreement relating to the Company's operations, policies or
practices."

At 35, Mr. Speron will be the youngest member of the PICO Board by
15 years, as Ms. Leslie is 50.  Mr. Speron is 27 years younger than
the average PICO Director, as the average age of the PICO Board,
excluding Ms. Sullivan, is 62 years.


PRESSURE BIOSCIENCES: Inadequate Capital Casts Going Concern Doubt
------------------------------------------------------------------
Pressure BioSciences, Inc., said it does not have adequate working
capital resources to satisfy its current liabilities, raising
substantial doubt about its ability to continue as a going concern.


"We have experienced negative cash flows from operations with
respect to our pressure cycling technology business since our
inception," Richard T. Schumacher, president & chief executive
officer of the company, said in a regulatory filing with the U.S.
Securities and Exchange Commission dated November 12, 2015.

"As of September 30, 2015, we do not have adequate working capital
resources to satisfy our current liabilities and as a result, there
is substantial doubt regarding our ability to continue as a going
concern."  

Mr. Schumacher pointed out, "We have been successful in raising
cash through debt and equity offerings in the past and completed
debt financing subsequent to September 30, 2015.  We have financing
efforts in place to continue to raise cash through debt and equity
offerings.

"Based on our current projections, including equity financing
subsequent to September 30, 2015, we believe we will have the cash
resources that will enable us to continue to fund normal operations
into the foreseeable future.

"Management has developed a plan to continue operations.  This plan
includes obtaining equity or debt financing.  During the nine
months ended September 30, 2015 we received $5,952,053 net
proceeds, in additional convertible and non-convertible debt.  
Although we have successfully completed financings and reduced
expenses in the past, we cannot assure you that our plans to
address these matters in the future will be successful.

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

At Sept. 30, 2015, the company had total assets of $2,210,988,
total liabilities of $6,702,877, and a stockholders' deficit of
$4,491,889.

The company incurred net loss of $657,928 for the three months
ended September 30, 2015, compared to a net loss of $959,050 for
the same period in 2014.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/zre6stb

Pressure BioSciences, Inc. is focused on solving the challenging
problems inherent in biological sample preparation, a crucial
laboratory step performed by scientists worldwide working in
biological life sciences research.  The South Easton,
Massachusetts-based company has developed and patented a novel,
enabling technology platform that can control the sample
preparation process.


QUICKSILVER RESOURCES: Gets Approval to Pay Terminated Workers
--------------------------------------------------------------
Quicksilver Resources Inc. received court approval to make
severance payments to non-insider employees.

The order, issued by U.S. Bankruptcy Judge Laurie Selber
Silverstein, authorized the company to make payments to terminated
employees under its severance plan, including payment of a minimum
of two weeks of salary regardless of their length of service to the
company.

Any terminated employee will be required to execute a release in
favor of the company, waiving any claims resulting from
employment-related matters.  In consideration for the release, the
employee will receive an additional, discretionary lump sum
payment.

Quicksilver Resources is only authorized to make the release
payments in an aggregate amount not to exceed $700,000, according
to court filings.

                    About Quicksilver Resources

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

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

On March 17, 2015, Quicksilver Resources Inc. and certain of its
affiliates filed voluntary petitions for relief under Chapter 11 of
title 11 of the United States Code in Delaware.  The Debtors are
seeking joint administration under the main case, In re Quicksilver
Resources Inc. Case No. 15-10585.  Quicksilver's Canadian
subsidiaries were not included in the chapter 11 filing.

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

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

The U.S. Trustee for Region 3 appointed five creditors of
Quicksilver Resources Inc. to serve on the official committee of
unsecured creditors.

                           *     *     *

The Debtors have previously been given exclusive right to file a
bankruptcy plan through October 13, 2015.  They are seeking a
further extension of the exclusive plan filing period through Feb.
1, 2016.


RIDGECREST VILLAGE: Fitch Lowers Rating on Refunding Bonds to BB+
-----------------------------------------------------------------
Fitch Ratings has downgraded to 'BB+' from 'BBB-' the ratings on
these revenue refunding bonds issued by Scott County (IA) on behalf
of Ridgecrest Village:

   -- $13.82 million series 2006;
   -- $4.18 million series 2004*

The Rating Outlook is Stable.

* The series 2004 bonds are expected to be refunded on or about
Dec. 21st with a direct bank placement.

SECURITY

The bonds are secured by a pledge of gross revenues, a mortgage,
and a debt service reserve fund.

KEY RATING DRIVERS

CONTINUED WEAK OPERATING PERFORMANCE: The downgrade to 'BB+' from
'BBB-' is driven by the lack of operating improvement in fiscal
2015 as expected in Fitch last rating action.  In fiscal 2015, net
operating margin-adjusted (NOM-adjusted) slipped to 10.5% from
13.2% in the prior year due to lower net entrance fee receipts.  As
result, coverage of maximum annual debt service (MADS) by Fitch's
calculation was a weak 1.1x compared to 1.3x in fiscal 2014.  Fitch
notes management reported coverage in fiscal 2015 of 1.35x.

EROSION IN LIQUIDITY: At Sept. 30, 2015, Ridgecrest reported
unrestricted cash and investments of $7.5 million which is down
from $9.7 million at fiscal year-end (FYE) 2015 and $11.5 million
at FYE 2014.  Thus, key liquidity metrics are no longer consistent
with 'BBB' category medians.  At Sept 30, Ridgecrest's days cash on
hand (DCOH) of 218, cushion ratio of 3.8 times (x) and cash to debt
of 41.6% compared unfavorably to the respective 'BBB' category
medians of 400 DCOH, 7.3x and 60%.

OCCUPANCY CHALLENEGED: Occupancy remained challenged in fiscal
2015.  Occupancy in Ridgecrest's 157 independent living units
(ILUs) was 84% in fiscal 2015 which is slightly better than the 82%
reported in the prior year.  However, occupancy in the 100 skilled
nursing beds (SNFs) slipped to 85% from 89% in fiscal 2014.  Fitch
was expecting to see an improvement in occupancy in 2015 due the
engagement of an outside marketing consultant and a higher level of
capital spending during the year.

GOOD MARKET POSITION: A key credit strength at the current rating
level is Ridgecrest's market position.  It is the only type-A life
care continuing care retirement community (CCRC) in its primary
service area and its entrance fees are relatively modest, with
prices in 2014 ranging from $42,000 to $174,000, for a fully
amortizing contract.

RATING SENSITIVITIES

STABILITY AT CURRENT RATING LEVEL: Fitch believes Ridgecrest
Village has financial cushion at the current rating level to
address its operating challenges and expects liquidity, operations,
and coverage to remain fairly stable.  However, a further
deterioration in liquidity or coverage could lead to further
negative pressure.

CREDIT PROFILE

Located in Davenport, Iowa, Ridgecrest Village is a Type 'A' CCRC
with 157 ILUs, 60 assisted living units (ALUs; including 15
Alzheimer's units), and 100 skilled nursing facility (SNF) beds.
Total operating revenues were $12.8 million in fiscal 2015.

WEAK OPERATING PERFORMANCE

The downgrade is in response to another year of weak operating
performance.  While improved from the prior year, Ridgecrest
operating ratio was a high 109% (compared to 113.6% in fiscal 2014.
Occupancy remained challenged across the continuum in 2015.
Average occupancy in the ILU, ALU and SNF in fiscal 2015 was 84%,
85% and 83%, respectively, compared to 82%, 89% and 81% in 2014.
The payor mix in the SNF was stable to slightly improved in 2015
compared to the prior year.  Fitch believes improving occupancy is
key to improving core operating performance and profitability going
forward.

EROSION IN LIQUIDITY

The downgrade also reflects the erosion in liquidity since Fitch's
last rating review.  At Sept. 30, 2015, Ridgecrest's unrestricted
cash and investments position had declined to $7.5 million from
$9.9 million at Sept. 30, 2014.  As a result, DCOH slipped to 218
at Sept 30th from 300 in the prior year period while cash to debt
fell to 41.6% from 52.6%.  The decline in Ridgecrest's liquidity
position reflects weaker entrance fee receipts, higher capital
spending in fiscal 2015 and impact poor investment returns in the
third quarter of 2015 (3Q15).

Concerns related to Ridgecrest's liquidity metrics are tempered by
a conservative balance sheet with 100% fixed-rate debt, no swaps,
and a relatively conservative investment portfolio.

WEAK DEBT SERVICE COVERAGE

Ridgecrest's debt burden remains slightly elevated for the rating
category.  Fitch used MADS of $1.95 million which equates to 14.4%
of fiscal 2015 revenues.  Coverage of MADS as calculated by Fitch
was a weak 1.1x in 2015 compared to 1.3x in fiscal 2014.  While
core operations were improved year-over-year, net entrance fee
receipts fell to $1.5 million in fiscal 2015 from $2.3 million in
fiscal 2014.  Fitch notes that management reported coverage of MADS
at 1.35x in fiscal 2015 compared to 1.29x in fiscal 2014.



RIDGEWOOD REALTY: Court Denies Bid to Revoke Confirmation Order
---------------------------------------------------------------
Ridgewood Realty of L.I. Inc. filed a motion to revoke the order
confirming the plan of reorganization filed by SAC427 111414 LLC.

The Debtor alleges that SAC transferred ownership of the secured
note and mortgage to another entity in February 2015, and that SAC
therefore lacked standing to propose and to obtain confirmation of
a plan.  The Debtor also filed an Order to Show Cause seeking a
hearing on its motion, and the Court directed the parties to
address the motion at a trial that had been previously scheduled to
consider the proposed sales of properties under the confirmed
plan.

After trial, the Court found that SAC has provided clear and
convincing proof that its assignment of the note and mortgage was
intended to be an assignment for security purposes only and not an
absolute assignment.   The Debtor argued in its submission that the
recent Correction Agreement should not be given retroactive effect
and that SAC's standing should be measured at the time it actually
proposed a plan of reorganization.

Judge Michael E. Wiles of the United States Bankruptcy Court for
the District of New York ruled that it is not necessary for the
Court to consider whether the Correction Agreement has a
retroactive effect.  The Court has already found that SAC and its
assignee did not intend to make an absolute assignment and only
made an assignment for security purposes.  SAC continued to be the
beneficial owner of the note and mortgage at the time it filed its
proposed plan and at all times thereafter, Judge Wiles ruled.

Accordingly, Judge Wiles denied the Debtor's Motion to Revoke
Confirmation Order.  The Court also ruled at the conclusion of the
sale hearing that the sales of properties to certain stalking horse
bidders should be approved.

The case is In re: RIDGEWOOD REALTY OF L.I. INC. a/k/a SK MULBERRY
CONTRACT CORP., Chapter 11 Debtor, Case No. 12-14085 MEW (Bankr.
S.D.N.Y.).

A full-text copy of the Memorandum Opinion dated December 1, 2015
is available at http://is.gd/8HgfNrfrom Leagle.com.

Ridgewood Realty of L.I. Inc., Debtor, represented by David
Carlebach, Law Offices of David Carlebach, Esq.

United States Trustee, U.S. Trustee, represented by Serene K.
Nakano, U.S. Department of Justice U.S. Trustee's Office.

Old Westbury, New York-based Ridgewood Realty of L.I. Inc., aka SK
Mulberry Contract, sought protection under Chapter 11 of the
Bankruptcy Code on Sept. 28, 2012 (Bankr. S.D.N.Y., Case No.
12-14085).  The Debtor's counsel is David Carlebach, Esq., in New
York.  The petition was signed by Angelina Kates, managing member.


ROI LAND: Cumulative Losses Raise Going Concern Doubt
-----------------------------------------------------
ROI Land Investments Ltd. incurred a net loss of $697,515 for the
three months ended September 30, 2014, compared to a net loss of
$4,512 for the three months ended September 30, 2013.  The company
has incurred a net loss of $4,401,846 for the nine months ended
September 30, 2014 and has incurred cumulative losses since
inception of $4,524,371.  

"These conditions raise substantial doubt about the ability of the
company to continue as a going concern," said Sebastien Cliche,
chief executive officer, and Sami B. Chaouch, interim chief
financial officer of the company in a regulatory filing with the
U.S. Securities and Exchange Commission on November 12, 2015.

The officers pointed out, "Due to the uncertainty of our ability to
meet our current operating and capital expenses, our independent
auditors included an explanatory paragraph in their report on the
financial statements for the year ended December 31, 2013 regarding
concerns about our ability to continue as a going concern.

"Our ability to continue as a going concern is dependent upon our
ability to generate profitable operations in the future and/or to
obtain the necessary financing to meet our obligations and repay
our liabilities arising from normal business operations when they
become due.  The outcome of these matters cannot be predicted with
any certainty at this time and raise substantial doubt that we will
be able to continue as a going concern.

"There is no assurance that our operations will be profitable.  Our
continued existence and plans for future growth depend on our
ability to obtain the additional capital necessary to operate
either through the generation of revenue or the issuance of
additional debt or equity.

"Management believes that actions presently being taken to obtain
additional funding and implement its strategic plans provide the
opportunity for the company to continue as a going concern.  No
assurance can be given that the company will be successful in these
efforts."

At September 30, 2014, the company had total assets of $6,743,645,
total liabilities of $2,831,267, and total stockholders' equity of
$3,912,378.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/gwsdlwn

Quebec, Canada-based ROI Land Investments Ltd. specializes in land
development opportunities in Canada and abroad.  The company's
business model consists of acquiring attractive land free of zoning
restrictions, obtaining the necessary permits, outsourcing
developments of the infrastructure and profiting from the sale of
the subdivided land units to large residential and commercial
building developers.



ROTHSTEIN ROSENFELDT: Florida Banker Gets Prison Time
-----------------------------------------------------
Jacqueline Palank, writing for The Wall Street Journal, reported
that a Florida banker will spend 2-1/2 years in prison following
his conviction for helping Scott Rothstein operate a $1
billion-plus Ponzi scheme.

Frank Spinosa wept after a federal judge in Miami handed down the
30-month sentence, the Daily Business Review reported, apologizing
and saying, "I wish I could take it back."  Mr. Spinosa, 54 years
old, once worked for TD Bank, which has already paid $52.5 million
to settle civil charges that it helped Mr. Rothstein defraud his
investors, the Journal reported.

As the Journal has reported, the Securities and Exchange Commission
accused TD Bank and Mr. Spinosa of creating misleading documents
and making false statements about the accounts that Mr. Rothstein,
the founder of a South Florida law firm, held at the bank to help
Mr. Rothstein lure investors.  At the time TD Bank announced the
settlement, in September 2013, a lawyer for Mr. Spinosa said his
client didn't know about Mr. Rothstein's fraud and never
purposefully acted to further that fraud, the Journal reported.

                    About Rothstein Rosenfeldt

Scott Rothstein, co-founder of law firm Rothstein Rosenfeldt Adler
PA -- http://www.rra-law.com/-- was suspected of running a      
$1.2 billion Ponzi scheme.  U.S. authorities claimed in a civil
forfeiture lawsuit filed Nov. 9, 2009, that Mr. Rothstein, the
firm's former chief executive officer, sold investments in non-
existent legal settlements.  Mr. Rothstein pleaded guilty to five
counts of conspiracy and wire fraud on Jan. 27, 2010.

Creditors of Rothstein Rosenfeldt Adler signed a petition sending
the Florida law firm to bankruptcy (Bankr. S.D. Fla. Case No.
09-34791).  The petitioners include Bonnie Barnett, who says she
lost $500,000 in legal settlement investments; Aran Development,
Inc., which said it lost $345,000 in investments; and trade
creditor Universal Legal, identified as a recruitment firm, which
said it is owed $7,800.  The creditors alleged being owed money
invested in lawsuit settlements.

Herbert M. Stettin, the state-court appointed receiver for
Rothstein Rosenfeldt, was officially carried over as the
Chapter 11 trustee in the involuntary bankruptcy case.

On June 10, 2010, Mr. Rothstein was sentenced to 50 years in
prison.

The official committee of unsecured creditors appointed in the
case is represented by Michael Goldberg, Esq., at Akerman
Senterfitt.

RRA won approval of an amended liquidating Chapter 11 plan
pursuant to the Court's July 17, 2013 confirmation order.  The
revised plan, filed in May, is centered around a $72.4 million
settlement payment from TD Bank NA.


SAMUEL E. WYLY: Appeals Court Allows Freezing Some Family Assets
----------------------------------------------------------------
The Associated Press reported that a federal appeals court
partially upheld a decision to freeze assets of relatives of two
Texas businessmen who have been ordered to pay about $300 million
in penalties for securities fraud.  According to the report, the
judges upheld the freeze against nine relatives who, they said,
received ill-gotten gains from trusts set up by Sam and Charles
Wyly.

                         About Sam Wyly

Sam Wyly is a lifelong entrepreneur and author.  His first book,
1,000 Dollars & An Idea, is a biography that tells his story of
creating and building companies, including University Computing,
Michaels Arts & Crafts, Sterling Software, and Bonanza Steakhouse.
His second book, Texas Got It Right!, co-authored with his son,
Andrew, was gifted to roughly 450,000 students and teachers,
thought leaders, and readers, and continues to be a best-seller in
its Amazon category.

Samuel Wyly filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Tex. Case No. 14-35043) on Oct. 19, 2014, weeks after a judge
ordered him to pay several hundred million dollars in a civil
fraud case.  In September 2014, a federal judge ordered Mr. Wyly
and the estate of his deceased brother to pay more than $300
million in sanctions after they were found guilty of committing
civil fraud to hide stock sales and nab millions of dollars in
profits.

                        About Caroline Wyly

Caroline Wyly is the widow of business tycoon Charles Wyly.  She
and her brother-in-law Sam Wyly sought Chapter 11 bankruptcy
protection as leverage to settle a looming tax bill and a $329
million claim from the Securities and Exchange Commission.  Her
bankruptcy is In re Caroline D. Wyly, 14-35074, in U.S. Bankruptcy
Court, Northern District Texas (Dallas).


SHAW COMMUNICATIONS: S&P Puts 'BB' Global Rating on Watch Neg.
--------------------------------------------------------------
Standard & Poor's Ratings Services said it placed all of its
ratings on Calgary, Alta.-based Shaw Communications Inc. on
CreditWatch with negative implications after the company announced
an agreement to acquire Mid-Bowline Group Corp. and its wholly
owned subsidiary, mobile operator WIND Mobile Corp., for C$1.6
billion.  S&P is placing its 'BBB-' long-term corporate credit
rating, its 'BBB-' unsecured debt ratings, and S&P's 'BB' global
and 'P-3' Canada scale preferred share ratings on Shaw on
CreditWatch negative, which affects about C$5 billion of rated
securities.  The company has not detailed its financing plans, but
S&P assumes that the acquisition will be substantially debt- and
cash-financed.  "The CreditWatch placement reflects our opinion
that this transaction will increase Shaw's pro forma consolidated
adjusted debt leverage to above 3x, which would be high for our
investment-grade rating, while weakening the company's free cash to
debt measure significantly," said Standard & Poor's credit analyst
Donald Marleau.

Moreover, S&P believes that the acquisition would have a mixed
effect on Shaw's business risk profile, adding a key segment in
wireless to support the competitive position of its core cable and
internet offerings, but weakening margins and increasing earnings
and cash flow volatility during a period of elevated debt leverage
and higher capital expenditure requirements to upgrade WIND's
network to competitive standards LTE.  S&P believes that the
strategic defensiveness of the acquisition could be blunted by the
intense competition WIND will face in increasing its subscriber
base over the next few years, considering the strong wireless
product offerings in western Canada from larger incumbents like
Telus Corp., BCE Inc., and Rogers Communications Inc.  WIND is
concentrated in Ontario, where Shaw has almost no cable or internet
operations, such that most efficiencies and the marketing
enhancements will be from integrating WIND's small market share in
Western Canada with Shaw's solid cable platform.

Giving effect for the proposed acquisition of WIND in late 2016,
S&P estimates that Shaw's pro forma adjusted leverage would
increase to about 3.2x, which could put downward pressure on the
rating.  Although S&P believes that this acquisition could benefit
Shaw's market position and improve WIND's growth prospects, S&P
expects that lower margins, higher earnings volatility, and
increased capital expenditures will dampen Shaw's returns over the
next three years.  Combining the WIND acquisition and its LTE
rollout, Shaw plans to invest at least C$1.85 billion by 2018 for a
company that is expected to generate 2015 EBITDA of about C$65
million, which S&P estimates would contribute a marginal return on
capital less than half of Shaw's attractive three-year average of
12%.  As such, less robust margins and incremental capital
expenditures for the WIND LTE buildout and potentially more capital
for competitive enhancements and spectrum could cut Shaw's free
operating cash flow-to-debt ratio to below 10%, which, along with
higher leverage, could indicate a lower financial risk assessment.
Considering the modest synergy prospects between Shaw and WIND
because of limited geographic overlap or product adjacencies, S&P
believes that the ultimate financing mix of debt, equity, and
potential asset sales, as well as several years of restrained
shareholder distributions, will be key to protecting credit
quality.

S&P will aim to resolve the CreditWatch as key transactions
assumptions are clarified, and ideally before the companies receive
final regulatory approvals.  As such, S&P will assess the divergent
business effects of a stronger product offering and weaker
profitability, as well as the consequent leverage trajectory and
updated financial policies.  S&P could lower the corporate credit
rating on Shaw by one notch if S&P believes the acquisition will
weaken Shaw's profitability and cash flow such that S&P considers a
weaker business risk assessment, or if the company cannot sustain
leverage below 3x as it develops its mobile presence.  On the other
hand, S&P could affirm its 'BBB-' rating on Shaw if S&P expects the
company to improve leverage to about 2.5x while integrating and
building out WIND's relatively small and outmoded network.



SKYSTAR BIO-PHARMACEUTICAL: Nasdaq Decides to Delist Shares
-----------------------------------------------------------
Skystar Bio-Pharmaceutical Company, a China-based manufacturer and
distributor of veterinary medicine, vaccines, micro-organisms and
feed additives, on Dec. 18 disclosed that on December 17, 2015,
Skystar Bio-Pharmaceutical Company received notification from The
Nasdaq Stock Market informing the Company that a Nasdaq hearing
panel had decided to delist the Company's shares from Nasdaq and
that the Company's shares would be suspended from trading on Nasdaq
at the open of business on December 21, 2015.

The Company previously disclosed a notification from Nasdaq
informing the Company that it was subject to delisting because it
failed to comply with Nasdaq's filing requirements set forth in
Listing Rule 5250(c)(1), because it failed to file its Form 10-K
for the fiscal year ended December 31, 2014, and Forms 10-Q for the
periods ended March 31, and June 30, 2015.  The failure to file the
Quarterly Report constitutes an additional basis for delisting.
The Company also previously disclosed that Nasdaq had notified the
Company of two additional, and separate, bases for delisting under
Listing Rule 5250(b)(1) (failure to disclose material non-public
information) and Listing Rule 5101 (public interest concerns).

The Company will continue to work towards completing its filing
requirements for the respective periods and other reports with the
Securities and Exchange Commission pursuant to the Exchange Act of
1934, as amended, and other federal securities laws.

The Company expects to commence trading on the over-the-counter
market on December 21, 2015.

            About Skystar Bio-Pharmaceutical Company

Skystar -- http://www.skystarbio-pharmaceutical.com-- is a  
China-based developer, manufacturer and distributor of veterinary
healthcare and medical care products.  Skystar has four product
lines: veterinary medicines, probiotics, vaccines and feed
additives formulated and packaged in house across several modern
manufacturing and distributions facilities.  Skystar's distribution
network includes almost 3,000 distribution agents of which 360 are
franchised stores with exclusivity agreements covering 29 provinces
throughout China.


SMART MODULAR: Moody's Cuts Corporate Family Rating to Caa1
-----------------------------------------------------------
Moody's Investors Service downgraded SMART Modular Technologies
(Global), Inc.'s ("SMART") ratings, including the Corporate Family
Rating ("CFR") to Caa1 from B2, the Probability of Default Rating
("PDR") to Caa1-PD from B2-PD, the Senior Secured Term Loan ("Term
Loan") to Caa1 from B2, and the Senior Secured Revolver
("Revolver") to B3 from B1 due to both weakening end market demand
in Brazil, which has caused SMART's earnings to decline
substantially, and the approaching Term Loan maturity. The rating
outlook is stable.

RATINGS RATIONALE

The rating actions were based on Moody's expectation that the
Brazilian computer market will contract further over the next year
and Moody's belief that end market conditions in Brazil will remain
weak, making it difficult for SMART to refinance or extend the
maturity of the Term Loan, which matures in August 2017.

"Moody's expects breakeven to negative Free Cash Flow and declining
liquidity near term as we believe revenues and EBITDA will remain
well below historical performance and our prior expectations. This
reflects a more rapid than anticipated decline in revenues due to
the contraction of the Brazilian economy and the rapid decline in
computer sales in Brazil," noted Terry Dennehy, Senior Analyst at
Moody's Investors Service.

The Caa1 CFR reflects SMART's financial leverage, which we expect
to exceed 6x debt to EBITDA (Moody's adjusted) over the next year.
This level of financial leverage is high given both SMART's large
exposure to the depressed Brazilian computer market and to Brazil
generally (over 50% of revenues) and SMART's modest scale relative
to the large, global competitors in the highly cyclical Dynamic
Random Access Memory ("DRAM") memory module business. The rating
also reflects the approaching Term Loan maturity in August 2017,
which could pose a refinancing challenge due to SMART's weak
operating performance and the depressed Brazilian end market. The
customer revenue concentration, with the top 3 customers accounting
for over 35% of revenues, is an additional constraint on the
rating.

SMART is the largest local producer in the Brazilian DRAM module
market. SMART benefits from the Brazilian government's tax
incentives to encourage local semiconductor manufacturing and R&D
investments. This gives SMART an advantage over global competitors
that lack local DRAM Integrated Circuit (IC) packaging and memory
module manufacturing operations. SMART's specialty memory business
provides products for the industrial, enterprise, and
high-reliability markets that tend to have longer product life
cycles based on trailing-edge technologies, and thus provide a base
of low-growth, though consistent, revenues and FCF.

The stable outlook reflects Moody's expectation that SMART's
revenues and EBITDA will remain weak over the near term, reflecting
the contracting Brazilian economy and the resulting depressed
computer end market there. Moody's believes that SMART's financial
leverage will remain elevated, with debt to EBITDA (Moody's
adjusted) exceeding 6x, and that SMART will generate no better than
breakeven Free Cash Flow ("FCF"), with cash consumption of up to
$20 million in fiscal year 2016. Since end market demand in SMART's
DRAM business historically has been volatile, Moody's believes that
a positive swing in SMART's revenues later in 2016 could result if
the Brazilian economy recovers more quickly than currently
anticipated.

The Caa1 rating on the Term Loan, which is the same as the CFR,
reflects the single class of debt and the limited cushion of
subordinated liabilities in the capital structure. The B3 rating on
the Revolver, one notch higher than the Term Loan, reflects the
Revolver's priority in collateral in liquidation relative to the
Term Loan.

The rating could be upgraded if SMART addresses the upcoming Term
Loan maturity over the next year, refinancing or extending the
maturity on substantially similar terms as the existing Term Loan
and returns to revenue growth and increasing EBITDA and FCF. We
would expect FCF to debt (Moody's adjusted) sustained at least in
the low single digits percent. The rating could be downgraded if
Moody's believes that FCF will remain negative, available liquidity
weakens, or revenues and profitability decline on a sustained
basis.

Downgrades:

SMART Modular Technologies (Global), Inc.

-- Corporate Family Rating, Downgraded to Caa1 from B2

-- Probability of Default Rating, Downgraded to Caa1-PD from
B2-PD

-- Senior Secured Bank Credit Facility (Term Loan), Downgraded to
Caa1 (LGD3) from B2 (LGD3)

-- Senior Secured Bank Credit Facility (Revolver), Downgraded to
B3 (LGD3) from B1 (LGD3)

Outlook Actions:

SMART Modular Technologies (Global), Inc.

-- Outlook remains stable

SMART Modular Technologies (Global), Inc. ("SMART Modular"), a
Cayman Islands exempted company, is a leading independent
manufacturer of memory modules, embedded flash products and solid
state drives (SSDs) for Original Equipment Manufacturers (OEMs).
Its products are used in a variety of applications in the
computing, networking, communications, printers, storage and
industrial markets. The company is private and is owned by
affiliates of private equity firm Silver Lake Partners.



STRATA ENERGY: Seeks U.S. Recognition of Canadian Proceeding
------------------------------------------------------------
The Fuller Landau Group Inc., in its capacity as the appointed
receiver and duly authorized foreign representative for Strata
Energy Services Inc. and Strata Services International Inc., asks
the U.S. Bankruptcy Court for the District of Wyoming to recognize
the Canadian Proceeding as (a) a "foreign main proceeding" or, in
the alternative, (b) a "foreign non-main proceeding" under Sections
1502(4), 1502(5), 1515, and 1517 of the Bankruptcy Code.

A receivership proceeding commenced pursuant to Section 243 of
Canada's Bankruptcy and Insolvency Act is pending before the Court
of Queen's Bench of Alberta, Judicial Centre of Calgary.

The Debtors are provider of oilfield services with a special focus
on managed pressure and underbalanced drilling and provider of an
array of oil-and-gas products and services to their clients.  The
Debtors own and maintain approximately $6 million in equipment,
vehicles, and other assets within the United States, the majority
of which are located within the District of Wyoming.  In addition,
the Debtors operate a small administrative office and repair
facility in Cheyenne, Wyoming, which constitutes their principal
place of business within the United States.

Gregory C. Dyekman, Esq., at Dray, Dyekman, Reed & Healey, P.C.,
counsel for the Petitioner, said that between 2013 and 2014, the
Debtors' financial condition began to rapidly deteriorate due, in
large part, to macroeconomic conditions.  He added that declining
oil prices and reduced demand for oil have taken a toll on the
global oil-and-gas industry, and forced a number of the Debtors'
clients to scale back -- and in some cases, cease -- operations,
and as a result, the Debtors soon encountered significant cash-flow
problems, and struggled to generate enough cash to both maintain
their operations and service their debt.

Consequently, in December 2014, Strata Energy breached certain
financial covenants under a credit agreement with PNC Bank Canada
Branch and defaulted thereunder.  And on May 29, 2015, PNC Bank
issued demands and notices of its intention, in accordance with
section 244 of the BIA, to (i) enforce its Security and (ii)
accelerate the indebtedness under the PNC Credit Agreement.

PNC Bank and the Debtors executed a forbearance agreement effective
June 1, 2015, for the purpose of allowing the Debtors time to
complete a sale of some or all of their assets, specifically,
certain of Strata Energy's assets located in Iraq.  Under the
Forbearance Agreement, Strata Energy was required to obtain a
commitment for the sale of the Iraq Assets on or before June 30,
2015.  The proceeds of any such sale were to be used to reduce the
PNC Indebtedness under the PNC Credit Agreement.  Under the terms
of the Forbearance Agreement, PNC Bank also released to Strata
Energy $400,000 from a reserve in order to fund the sale of the
Iraq Assets.

However, the Debtors failed to obtain a commitment with respect to
the sale of the Iraq Assets by the applicable deadline, and PNC
Bank did not agree to extend the terms of the Forbearance Agreement
or otherwise advance additional funds.  Accordingly, PNC Bank
determined that the Debtors could not continue to manage
their business or complete a formal sale process and thus, a
receiver should be immediately appointed to oversee the Debtors'
cash flow and commence a sales process.

On Nov. 6, 2015, PNC Bank filed and served notice of its
originating application for the appointment of a receiver with
respect to both Strata Energy and Strata International in the
Canadian Proceeding.  On Nov. 10, 2015, the Canadian Court
conducted a hearing in connection with PNC Bank's receivership
application and entered the consent receivership order in the
Canadian Proceeding appointing the Petitioner as receiver over all
of the Debtors' "current and future assets, undertakings and
properties of every nature and kind whatsoever, and wherever
situate, including all proceeds thereof" and further authorized
the Petitioner to act as the Debtors' foreign representative with
respect to these chapter 15 cases.

The Petitioner, having recently been appointed receiver in the
Canadian Proceeding, is in the process of investigating the
Debtors' assets and affairs.  The Petitioner has hired an
investment bank to run a new sale process and hopes to identify a
potential purchaser willing to serve as a stalking-horse bid.

                     About Strata Energy

Strata Energy Services Inc. and Strata Services International Inc.
filed Chapter 15 bankruptcy petitions (Bankr. D. Wyoming Case Nos.
15-20821 and 15-20822, respectively) on Dec. 14, 2015.  The
petition was signed by The Fuller Landau Group Inc. as receiver.
Dray, Dyekman, Reed & Healey, P.C., serves as the Petitioner's
counsel.  Judge Cathleen D. Parker has been assigned the case.


SYMBID CORP: Recurring Losses Raise Going Concern Doubt
-------------------------------------------------------
Symbid Corp. has suffered recurring losses during the three months
ended Sept. 30, 2015 and 2014 of $632,293 and $750,020,
respectively, Korstiaan Zandvliet, chief executive officer, and
Maarten van der Sanden, chief financial officer of the company
stated in a November 12, 2015 regulatory filing with the U.S.
Securities and Exchange Commission.  

"The recurring losses raise substantial doubt about the company's
ability to continue as a going concern," Messrs. Zandvliet and van
der Sanden related.  

Losses during the nine months ended September 30, 2015 and 2014
were $1,767,314 and $1,658,320, respectively.  At September 30,
2015 and December 31, 2014, the company had a working capital
deficit of $712,174 and $456,208, respectively.  As of September
30, 2015, the company had cash on hand of $960,845 and current
liabilities to credit institutions of $34,013.  At September 30,
2015, the company had total assets of $1,902,805, total liabilities
of $1,034,412, and total stockholders' equity of $868,393.

Messrs. Zandvliet and van der Sanden, "The recoverability of a
major portion of the recorded asset amounts shown in the
accompanying condensed consolidated balance sheet is dependent upon
continued operations of the company, which in turn, is dependent
upon the company's ability to raise capital and/or generate
positive cash flows from operations.

"Our ability to continue as a going concern is dependent upon our
generating profitable operations in the future and/or obtaining the
necessary financing to meet our obligations and repay our
liabilities arising from normal business operations when they come
due.

"Management intends to finance operating costs over the next twelve
months with existing cash on hand and/or private placement of
common stock."

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/hwdwnpn

Rotterdam, The Netherlands-based Symbid Corp. is an online funding
network consisting of certain products and services known as The
Funding Network(TM).  The Funding Network(TM) is designed to give
small and medium sized entities direct access to all forms of
finance.  



URBAN DISCOVERY: S&P Affirms BB Rating on 2014 Bonds, Outlook Neg.
------------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to negative
from stable and affirmed its 'BB' rating on California Municipal
Finance Authority's series 2014A and taxable series 2014B charter
school revenue bonds, issued on behalf of Fourteenth Street
Holdings LLC for the Urban Discovery Academy (UDA) project.

"The negative outlook reflects our view of UDA's considerable debt
relative to the school's size, leading to what we consider a high
pro forma maximum annual debt service burden and weak maximum
annual debt service coverage based on draft audited fiscal 2015
results, which fell short of expectations," said Standard & Poor's
credit analyst Avani Parikh.  "In addition, the school's
construction project experienced unexpected delays and cost
overruns which necessitate further debt borrowing."

"The negative outlook reflects our view of UDA's weak pro forma
MADS coverage and high debt burden, coupled with its modest size,
which pressures financial metrics relative to medians for the
rating level.  While we expect improved coverage based on fiscal
2016 projections, we would consider a lower rating or a negative
outlook over the one-year outlook period if operating projections
are missed, days' cash declines from current levels, or MADS
coverage does not improve to near 1x as projected.  We could
consider revising the outlook back to stable if UDA can meet its
enrollment and financial growth projections, while achieving MADS
coverage closer to 1x and a moderating debt burden.  A higher
rating is unlikely over the outlook period," S&P said.

UDA is a kindergarten-through-eighth grade public charter school,
with 431 students enrolled for the 2015-2016 school year.



WALTER ENERGY: Court OKs Deal on Collective Bargaining Agreement
----------------------------------------------------------------
BankruptcyData reported that the U.S. Bankruptcy Court approved
Walter Energy's stipulation and motion for an order resolving its
motion for an order (i) authorizing the Debtors to (a) reject
collective bargaining agreements, (b) implement final labor
proposals and (c) terminate retiree benefits and (ii) granting
related relief as to the non-union retirees only.

As previously reported, "The Non-Union Retiree Plan will be
terminated effective as of Jan. 31, 2016.  The Debtors will
continue to provide Retiree Benefits under the Non-Union Retiree
Plan up to and including Jan. 31, 2016, to all Non-Union Retirees
who elect to continue in the Non-Union Retiree Plan and who pay the
premiums due under the Non-Union Retiree Plan.  The Debtors'
obligations to provide Retiree Benefits to the Non-Union Retirees
will cease on the Benefit Termination Date....As of the Closing
Date, the Debtors will establish and fund $400,000 (the 'NonUnion
Retiree Escrow Funds') into a mutually acceptable escrow account
(the 'Non-Union Retiree Escrow Account').  All costs associated
with the maintenance and administration of the Non-Union Retiree
Escrow Account will be paid with funds in the Non-Union Retiree
Escrow Account...  In the event that Coal Acquisition LLC is not
the buyer of the Acquired Assets as that term is defined in the
APA, the Debtors will nonetheless abide by the undertakings and
payments set forth herein....The Debtors will not seek any
additional relief under Section 1114 in their current Bankruptcy
Cases from the Non-Union Retirees and will waive all rights to file
any further motions for modifications of Retiree Benefits related
to the Non-Union Retirees."

                       About Walter Energy

Walter Energy -- http://www.walterenergy.com/-- is a publicly  
traded "pure-play" metallurgical coal producer for the global steel
iindustry with strategic access to steel producers in Europe, Asia
and South America.  The Company also produces thermal coal,
anthracite, metallurgical coke and coal bed methane gas.  Walter
Energy employs approximately 2,700 employees, with operations in
the United States, Canada and the United Kingdom.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $471 million following a net loss of $359 million in 2013.  

Walter Energy, Inc., and its affiliates sought Chapter 11
protection (Bankr. N.D. Ala. Lead Case No. 15-02741) in Birmingham,
Alabama on July 15, 2015, after signing a restructuring support
agreement with first-lien lenders.

Walter Energy disclosed total assets of $5.2 billion and total debt
of $5 billion as of March 31, 2015.

The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison as
counsel; Bradley Arant Boult Cummings LLP, as co-counsel; Ogletree
Deakins LLP, as labor and employment counsel; Maynard, Cooper &
Gale, P.C., as special counsel; Blackstone Advisory Services, L.P.,
as investment banker; AlixPartners, LLP, as financial advisor, and
Kurtzman Carson Consultants LLC, as claims and noticing agent.

The Bankruptcy Administrator for the Northern District of Alabama
appointed an Official Committee of Unsecured Creditors and an
Official Committee of Retirees.  The Creditors Committee tapped
Morrison & Foerster LLP and Christian & Small LLP as attorneys.
The Retiree Committee retained Adams & Reese LLP and Jenner & Block
LLP as attorneys.

The informal group of certain unaffiliated First Lien Lenders and
First Lien Noteholders (the "Steering Committee") retained Akin,
Gump, Strauss, Hauer and Feld LLP as legal advisor, and Lazard
Freres & Co. LLC as financial advisor.


WIRECO WORLDGROUP: S&P Revises Outlook to Neg. & Affirms 'B' CCR
----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Kansas City, Mo.-based WireCo WorldGroup Inc. to negative from
stable and affirmed its ratings on the company, including the 'B'
corporate credit rating and issue-level ratings.

The '2' recovery rating on WireCo's senior secured credit
facilities due 2017 and '5' recovery rating on the company's 9.5%
senior unsecured notes due 2017 remain unchanged.  The '2' recovery
rating indicates S&P's expectation for substantial (70% to 90%; at
the upper end of the range) recovery in the event of a payment
default, while the '5' recovery rating indicates S&P's expectation
for modest (10% to 30%; at the lower end of the range) recovery in
the event of a payment default.

"The negative outlook reflects our view that WireCo's liquidity
could be revised to 'weak' during the first quarter of 2016 if the
upcoming senior secured debt maturities that are due February 2017
are not addressed before they become current in February 2016,"
said Standard & Poor's credit analyst.  "The current 'B' rating is
also predicated upon our expectations that adjusted debt to EBITDA
will remain below 8x and EBITDA interest coverage will remain at or
above 1.5x over the next 12 months, but continued weakness in some
of WireCo's end markets could result in sustained leverage above
this level."

S&P could lower the ratings by one notch if WireCo's liquidity were
seen as "weak" rather than "adequate," which would cap S&P's rating
at 'B-', under its criteria.  A weak liquidity assessment
represents an overarching credit risk, such as a material deficit
over the next 12 months.  S&P could downgrade WireCo by more than
one notch, however, if S&P viewed its financial commitments to be
unsustainable in the long term or it is likely the issuer will
default.  S&P could also take a negative rating action if weakness
in some of WireCo's end markets persisted such that leverage was
sustained above 8x and/or EBITDA interest coverage was sustained
below 1.25x.

Until WireCo refinances its upcoming debt maturities, it is
unlikely that S&P would take a positive rating action.  However, if
its debt is refinanced in a favorable manner before its senior
secured facilities become current, it is possible S&P could revise
the outlook to stable.  Though unlikely over the next 12 months,
S&P could raise WireCo's ratings if FFO to debt approached 12%
and/or debt to EBITDA was sustained at less than 5x due to a
combination of cash flow growth and debt reduction.  This would be
in addition to support from WireCo's financial sponsor to maintain
a more conservative financial policy in favor of these lower levels
of leverage over the longer term.



YELLOWSTONE MOUNTAIN: Former Developer Tries to Get Out of Jail
---------------------------------------------------------------
Lillian Rizzo, writing for Dow Jones' Daily Bankruptcy Review,
reported that Tim Blixseth, the former billionaire real-estate
developer who has been languishing in a Montana jail for the past
eight months, says he should be released so he can spend Christmas
with his family.

According to the report, in an emergency filing on Dec. 21 with the
Ninth Circuit Court of Appeals, Mr. Blixseth's lawyer said it is
time to end the developer's "wrongful incarceration" for civil
contempt so the founder of Montana's ultraluxurious Yellowstone
Club ski and golf resort could spend the holidays at home.

              About Yellowstone Mountain Club

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --
http://www.theyellowstoneclub.com/-- is a private golf and ski    

community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Club and its affiliates filed for Chapter 11
bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,
2008.  The Company's owner affiliate, Edra D. Blixseth, filed
a separate Chapter 11 petition on March 27, 2009 (Case No.
09-60452).

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented Yellowstone.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer; and James H. Cossitt, Esq., as counsel.  Credit Suisse,
the prepetition first lien lender, was represented by Skadden,
Arps, Slate, Meagher & Flom.

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners LLC acquired equity ownership in the reorganized
Club for $115 million.

Marc S. Kirschner, Esq., was appointed the Trustee of the
Yellowstone Club Liquidating Trust created under the Plan.


ZLOOP INC: Proposes to Sell 7 Utility Trailers
----------------------------------------------
ZLOOP, Inc., and certain of its subsidiaries seek authority from
the U.S. Bankruptcy Court for the District of Delaware to conduct a
private sale of its four utility trailers to National Delivery
Systems, Inc., and three remaining utility trailers to any
additional purchaser, free and clear of any and all liens, claims,
encumbrances and other interests, and thereafter directing turnover
of the trailers.

In 2013 and 2014, the Debtors purchased seven new 53-foot dry cargo
trailers for approximately $28,000 each.  The Debtors plan to use
the trailers to transport eWaste to the Supercenters.  However, the
current volume of eWaste collection and transportation is
insufficient to warrant and sustain the Debtors' ownership of the
Trailers.  Therefore, the Debtors point out that the Trailers are
surplus assets for which they now seek to sell.

The Debtors propose to sell the NDS trailers to the purchasers for
approximately $21,000 per Trailer pursuant to the terms and
conditions of the Purchase Agreement and subject to the Court's
approval.  The Debtors are providing REI adequate protection as
required by Section 363(e) of the Bankruptcy Code with respect to
its alleged interest in the Trailers by escrowing $40,247 of the
purchase price derived from the sale of the NDS trailers, which is
equal to the principal amount of the REI remaining secured claim,
pending an agreement between the Debtors and REI or entry of a
further order of the Court.

Accordingly, the Sale of the Trailers is authorized by Section 363
as a sound exercise of the Debtors' business judgment said the
Debtors.  The paramount goal in any proposed sale of property of
the estate is to maximize the proceeds received by the estate.  The
Debtors reason out that if they were to conduct a public auction of
the NDS Trailers, the purchaser would not commit to purchase the
trailers at the same price as through the proposed sale.
Furthermore, as the value of the NDS trailers will only decline
overtime, the Debtors are confident that the sale represents the
best opportunity to extract value from the NDS trailers while a
lengthy auction process would result in no additional net value to
the estates.

The Debtors are represented by:

         Stuart M. Brown, Esq.
         R. Craig Martin, Esq.
         Daniel N. Brogan, Esq.
         Kaitlin M. Edelman, Esq.
         DLA PIPER LLP (US)
         1201 North Market Street, Suite 2100
         Wilmington, Delaware 19801
         Telephone: (302) 468-5700
         Facsimile: (302) 394-2341
         Email: stuart.brown@dlapiper.com
                craig.martin@dlapiper.com
                daniel.brogan@dlapiper.com
                kaitlin.edelman@dlapiper.com

                      About ZLOOP, Inc.

ZLOOP, Inc., and two affiliates sought Chapter 11 protection
(Bankr. D. Del. Case No. 15-11660) on Aug. 9, 2015.  

ZLOOP operates a proprietary, state of the art, 100% landfill free
eWaste recycling company headquartered in Hickory, North Carolina.

The Debtors tapped DLA Piper LLP as counsel.

As of the Petition Date, the Debtors' unaudited consolidated
balance sheet reflect total assets of approximately $25 million,
including the land and improvements, but excluding certain
commodity inventories that are the output of eWaste recycling, and
total liabilities of approximately $32 million.

On Sept. 2, 2015, the U.S. trustee overseeing the Debtors' Chapter
11 cases appointed Recycling Equipment Inc., E Recycling Systems
LLC and Carolina Metals Group to serve on the official committee of
unsecured creditors.  The committee is represented by Cole Schotz
P.C.


[*] Jonathan Koevary Joins Olshan's Bankruptcy & Financial Practice
-------------------------------------------------------------------
Olshan Frome Wolosky LLP on Dec. 21 disclosed that Aneliya S.
Crawford, Hyman Kindler and Erik D. Syvertsen have been named
Partners; Safia A. Anand, Jonathan T. Koevary, Kenneth S. Mantel
and Peter M. Sartorius have been named Counsel; and partner Andrew
Freedman has been named Co-Head of Olshan's Shareholder Activism
Practice, all effective January 1, 2016.

"We are proud to announce the achievements of these eight
outstanding lawyers who have served the firm and our clients with
the highest level of service and professionalism," said Thomas D.
Kearns a partner in Olshan's Real Estate Law practice.  "The firm
is excited to name three new partners and four counsel in the same
year that we're expanding our New York footprint in our move to
1325 Avenue of the Americas, signaling an exciting new chapter in
the firm's distinguished history."

Andrew Freedman, a partner in the firm's Shareholder Activism
Practice, has been named Co-Head of the practice.

Aneliya S. Crawford will be a partner in the Shareholder Activism
Practice where she represents clients in matters concerning
shareholder activism, proxy contests, mergers and acquisitions and
corporate governance and hedge funds and other large investors in
connection with shareholder activism, mergers & acquisitions and
hostile takeovers.

Hyman Kindler will be a partner in the Real Estate Law practice
where he represents prominent real estate owners, developers and
lenders in sophisticated real estate transactions in New York City
and throughout the country.  Mr. Kindler has extensive experience
representing sellers and purchasers of transferable development
rights in New York City, including the assemblage of multiple
zoning lot parcels as development sites.

Erik D. Syvertsen will be a partner in the Corporate/Securities Law
practice where he leads the Emerging Company practice, specializing
in representing early-stage technology and growth companies on
capital raising and transactional matters.

Mr. Syvertsen has a broad background in M&A, corporate and
securities law, representing private and public companies from
seed-stage start-ups to mature public companies.

Safia A. Anand will be counsel in the Intellectual Property
practice, and has extensive experience across a broad range of
industries, including fashion, cosmetics, children's products,
financial services, food, restaurant, and general consumer goods.
Ms. Anand's intellectual property experience includes managing
domestic and international trademark portfolios of all sizes,
handling trademark opposition and cancellation proceedings,
drafting and negotiating intellectual property agreements, and
representing clients in intellectual property litigation.

Jonathan T. Koevary will be counsel in the Bankruptcy & Financial
Restructuring practice where he handles bankruptcy and
restructuring matters on behalf of creditors, debtors, distressed
investors and litigants.  Mr. Koevary has a broad range of
experience representing clients in all aspects of chapter 11 cases,
in-court and out-of-court restructurings, distressed investments,
lending and M&A transactions, and bankruptcy-related lawsuits.

Kenneth S. Mantel will be counsel in the Corporate/Securities Law
practice where he represents clients in a variety of transactional,
securities and general corporate matters.  Mr. Mantel represents
publicly traded and privately held companies in matters ranging
from game-changing mergers and acquisitions to ordinary course
business partnerships and service contracts, and in financing
matters and regularly advises SEC reporting companies regarding all
manner of reporting and compliance issues.

Peter M. Sartorius will be counsel in the Litigation practice where
he focuses on complex commercial disputes, representing public and
private companies in a wide variety of complex commercial matters
before federal courts, state courts, and arbitral bodies.  He has
significant experience litigating and successfully resolving
contractual, licensing, and securities disputes.

                         About Olshan

Olshan Frome Wolosky LLP, a law firm based in New York, represents
major businesses and entrepreneurs in their most significant
transactions, problems and opportunities.  Olshan's clients range
from public companies, hedge, venture capital, private equity and
other investment funds to entrepreneurs and private companies
worldwide.  Clients choose Olshan for innovative strategies and
sophisticated, game-changing advice in corporate, securities law,
equity investment and shareholder activism, complex commercial,
corporate and securities litigation, real estate, intellectual
property, bankruptcy and creditors' rights, and advertising.  Since
its founding, Olshan has offered an alternative to the AmLaw 50 law
firm business model with responsive, independent and client-focused
legal counsel provided by the firm's senior lawyers.


[*] Mark Hootnick Joins Millstein's Corporate Restructuring Team
----------------------------------------------------------------
Millstein & Co., a financial advisory firm that develops solutions
for complex corporate and public finance problems, on Dec. 22
disclosed that Mark Hootnick, a senior restructuring professional
with over 20 years' experience in the industry, has joined
Millstein & Co.  Founded in 2012, Millstein has established itself
as a leader in sovereign and corporate restructurings by building a
team of highly experienced professionals able to draw on their
financial, political, economic and legal backgrounds to provide
creative solutions and counsel to its clients.  Recent roles have
included advising Caesars Entertainment Operating Company in its
chapter 11 restructuring and Puerto Rico and its fiscal agent, the
Government Development Bank on the management of its $72 billion of
institutional indebtedness.  The addition of Mr. Hootnick
strengthens Millstein's advisory team and increases the
restructuring capabilities of the firm.

Mr. Hootnick has had an extensive career supporting companies,
creditors, shareholders and other interested parties on
restructuring transactions both in Chapter 11 and in non-bankruptcy
resolutions domestically and internationally.  Beginning his career
an as attorney at Kramer Levin Naftalis & Frankel, he has been a
financial advisor for most of his career and was most recently a
Managing Director at Moelis & Co.  Mr. Hootnick has a BS, with
honors, from Lehigh University and a JD from New York University
School of Law.

                    About Millstein & Co.

Millstein & Co. is a financial services firm that brings a unique
combination of professional skills to its advisory and asset
management businesses.  


[*] U.S. Helps Shaky Colleges Cope with Bad Student Loans
---------------------------------------------------------
Andrea Fuller and Josh Mitchell, writing for The Wall Street
Journal, reported that the Arkansas Baptist College got a dire
warning from the Education Department in 2014.  So many students
had defaulted on their loans that the college was at risk of losing
access to federal aid, the Journal related.

According to the report, that threat is one of the biggest weapons
the agency has to police the performance of colleges and
universities, but the warning to Arkansas Baptist also came with an
offer of help, says Yvette Wimberly, a dean at the college.

For the next six months, the Education Department told the college
how to look for errors in its student-loan data, the report
related.  Arkansas Baptist identified at least three students who
were murdered after they left the college, the report further
related.  Fixing that and other data problems cut the default rate
enough to save Arkansas Baptist, the report added.


[*] U.S. House Passes Military Bankruptcy-Relief Bill
-----------------------------------------------------
ABI.org reported that the U.S. House of Representatives voted 419-1
on Dec. 16, 2015, to approve a bill sponsored by Rep. Steve Cohen
(D-Tenn.) that would extend a bankruptcy-relief measure for
National Guard members and Reservists.

Michael Collins of The Commercial Appeal said that the legislation
would extend until the end of 2019 a provision that exempts
National Guard members and Reservists filing bankruptcy from being
subjected to a "means test" to determine a debtor's ability to
repay debts.  National Guard members and Reservists who, after
Sept. 11, 2001, served on active duty or in a homeland defense
activity for at least 90 days already were exempt from the test,
but the exemption was set to expire on Saturday.

Extending the exemption is a way to recognize the sacrifice of
those who served their country and may be suffering financial
hardship, Rep. Cohen said.




                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
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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.

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