TCR_Public/151228.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, December 28, 2015, Vol. 19, No. 362

                            Headlines

30DC INC: Enters Into Services and Consulting Agreements
ACTIVECARE INC: Needs More Time to File Fiscal 2015 Form 10-K
ADAMS MILL: Case Summary & 20 Largest Unsecured Creditors
AMERICAN APPAREL: Former Oak NYC Store Owners Buying Back Chain
ARCH COAL: S&P Lowers CCR to 'SD' on Missed Interest Payment

ARCHDIOCESE OF ST. PAUL: Court Denies Bid for Future Claims Rep.
AVON PRODUCTS: Fitch Affirms 'B+' Long-term Issuer Default Rating
BACK9NETWORK INC: Case Summary & 20 Largest Unsecured Creditors
BACK9NETWORK INC: Files for Chapter 11, Working on Plan
BACK9NETWORK INC: Obtains $2-Mil. DIP Commitment From GolfWorks

BACK9NETWORK INC: Seeks Joint Administration of Cases
BACK9NETWORK INC: Wants to Employ Hinckley Allen as Counsel
BANESCO USA: Fitch Affirms IDRs 'B+' LT Issuer Default Rating
BERNARD L. MADOFF: Altegrity Unit to Pay $24M to Settle Claims
BG MEDICINE: Withdraws BGM Galectin-3 Premarket Notification

BRADLEY S. KIDWELL: Voluntary Chapter 11 Case Summary
C COMPANY HYDROVAC: Case Summary & 20 Largest Unsecured Creditors
CAMBRIDGE ACADEMY: Fitch Affirms 'BB-' Rating on Revenue Bonds
CAPELLA HEALTHCARE: S&P Affirms Then Withdraws 'B' CCR
CARSON CIVIC CENTER: Case Summary & 3 Top Unsecured Creditors

CEQUEL COMMUNICATIONS: Moody's Lowers CFR to B3, Outlook Stable
CHESAPEAKE ENERGY: S&P Cuts CCR to 'B' on Revised Risk Assessment
CLOUDEEVA INC: Nisivoccia LLP Okayed as Ch. 11 Trustee's Accountant
COYNE INTERNATIONAL: SSG Served as Investment Banker in Asset Sale
CTI BIOPHARMA: Approves Compensatory Arrangements of Officers

DF SERVICING: Case Summary & 20 Largest Unsecured Creditors
DF SERVICING: Hires Carrasquillo as Financial Consultant
DF SERVICING: Seeks to Employ Cuprill as Legal Counsel
DISH NETWORK: Moody's Affirms Ba3 Corporate Family Rating
DORAL FINANCIAL: Creditors Say $889 Million PR Tax Deal Is Valid

ELEPHANT TALK: Gets $768,700 From Units Offering
EMPIRE RESORTS: To Effect 1-for-5 Reverse Stock Split
ENERGY FUTURE: Bid to Sell Oncor Minority Stake Kept Alive
EQUA MANAGEMENT: Case Summary & 20 Largest Unsecured Creditors
FANNIE MAE & FREDDIE MAC: Updated Conservatorship Litigation Chart

FILMED ENTERTAINMENT: To Relaunch Vinyl Album Subscription Service
FOUR OAKS: Ayden Lee Resigns as Executive Chairman
FPL ENERGY: S&P Affirms B- Rating on $100MM Sec. Notes, Outlook Neg
GIBSON BRANDS: Moody's Lowers CFR to B3, On Review for Downgrade
GOLDEN COUNTY FOODS: Court OKs Kurtzman Carson as Admin. Advisor

GOODMAN NETWORKS: S&P Lowers CCR to 'CCC+' on Weak Performance
GREEN AUTOMOTIVE: CFO Alan Bailey Resigns
GREEN AUTOMOTIVE: To Challenge Typenex Default Arbitration Award
ITUS CORP: Incurs $1.37 Million Net Loss in Fiscal 2015
KAP ENTERPRISES: Plan Complies with Bankruptcy Code Provisions

KNAPP MEDICAL: S&P Lowers ICR to 'BB+', Outlook Stable
LAS VEGAS SANDS: Moody's Lowers CFR to Ba1, Outlook Stable
LKQ CORP: Moody's to Retain Ba1 CFR on Planned Acquisition
LKQ CORP: S&P Puts 'BB+' CCR on CreditWatch Negative
LONESTAR GENERATION: S&P Lowers Rating on $675MM Loan to 'B+'

MAGNETATION LLC: Pact With AK Steel Must Be Honored, Court Says
MAGNETATION LLC: Taps PJT Partners as Investment Banker
MAGNETATION LLC: Unit to Assume AK Steel Ore Pellet Agreement
MERCANTIL COMMERCEBANK: Fitch Affirms BB/B Issuer Default Ratings
MF GLOBAL: Corzine, CFTC Duel Over Collapse

MILLENNIUM LAB: Judge Silverstein Won't Halt Chapter 11 Plan
MILLENNIUM LAB: Reorganization Plan Declared Effective
NAKED BRAND: Successfully Completes $7.5 Million Public Offering
NELSON SERVICE: Case Summary & 20 Largest Unsecured Creditors
NORTHERN FRONTIER: Obtains Temporary Financial Covenant Waiver

NORTHWEST MANAGEMENT: Case Summary & 8 Top Unsecured Creditors
OAKFABCO INC: Asbestos Panel Wants Insurance Professional Services
OAS SA: Gets Creditor Support for $339M Sale of Invepar Stake
OPPENHEIMER HOLDINGS: Moody's Affirms B2 CFR, Alters Outlook to Pos
P2 LOWER: Moody's Affirms B2 CFR & Changes Outlook to Stable

PACIFIC EXPLORATION: Fitch Cuts LT Issuer Default Ratings to 'CCC'
PACIFIC THOMAS: Can Recover $22K from Darrow Family
PEABODY ENERGY: Moody's Lowers CFR to Caa3, Outlook Negative
PRESSURE BIOSCIENCES: Stockholders Elect Two Class I Directors
QUEST VENTURES: Voluntary Chapter 11 Case Summary

RDIO INC: Selects Pandora's $75M Bid as Best in Chapter 11 Sale
SAFE & SECURE: Court Dismisses Chapter 11 Bankruptcy Case
SAMUEL E. WYLY: To Fight $2-Bil. Tax Bill at January Trial
SAN BERNARDINO, CA: Judge Rejects City's Bankruptcy Proposal
SELECT MEDICAL: Moody's Affirms B1 CFR, Outlook Stable

SHORELINE ENERGY: Files Bankruptcy Petition, Jan. 20 Meeting Set
SIGA TECHNOLOGIES: Del. Supreme Court Affirms PharmAthene Damages
SIMON WORLDWIDE: Board Approves Company Dissolution
STANDARD REGISTER: Plan of Liquidation Declared Effective
TAMARA MELLON: Has Court's Nod to Obtain $10M Financing From NEA

TRANS-LUX CORP: Completed Exchange Agreements with Noteholders
WESTMORELAND COAL: Targets Jan. 31 San Juan Acquisition Date
WET SEAL: Seal123 Deregisters Unsold Shares
WRIGHTWOOD GUEST RANCH: Hires Drummond & Assoc as Special Counsel
WRIGHTWOOD GUEST RANCH: Reid & Hellyer Okayed as Panel's Counsel

ZLOOP INC: Hires Keen-Summit as Real Estate Consultant & Advisor
[*] Court Won't Sink Defamation Claims vs. Porzio Attorney
[*] Huron Bags M&A's 2015 Restructuring Deal of the Year Award
[*] Lender Discrimination May Be Hurting Black Churches, Study Says
[*] New York Judge Axes Scarinci Hollenbeck Malpractice Suit

[^] BOND PRICING: For the Week from December 21 to 25, 2015

                            *********

30DC INC: Enters Into Services and Consulting Agreements
--------------------------------------------------------
30DC, Inc., entered into an agreement with Henry Pinskier, the
Company's interim chief executive officer, for consideration of
2,000,000 shares of the Company's common stock.  The agreement has
zero cash consideration and covers the time Mr. Pinskier began
serving as interim chief executive officer through the end of the
Company's current fiscal year, June 30, 2016. Mr. Pinskier is also
chairman of the Company's board of directors.

On Dec. 22, 2015, the Company entered into a one-year agreement
with Theodore A. Greenberg, the Company's chief financial officer
for which part of the consideration was 500,000 shares of the
Company's common stock.  Cash consideration under the agreement is
$5,000 per month but may be adjusted after six months based upon
the Company's performance and financial position.  Mr. Greenberg is
also a member of the Company's board of directors.

On Dec. 22, 2015, the Company entered into a one-year agreement
with 21st Century Digital Media, Inc., whose President, Gregory H.
Laborde, is a Director of 30DC, for business development services
for which part of the consideration was 300,000 shares of the
Company's common stock.   Cash consideration under the agreement is
$3,000 per month and the agreement includes incentive compensation
of up to 1,700,000 shares of the Company's stock which can be
earned by achieving certain milestones during the term of the
agreement.

                         About 30DC Inc.

New York-based 30DC, Inc., provides Internet marketing services
and related training to help Internet companies in operating their
businesses.  It operates in two divisions, 30 Day Challenge and
Immediate Edge.

30DC reported a net loss of $1.59 million on $738,000 of total
revenue for the year ended June 30, 2015, compared to net income of
$58,918 on $2.35 million of total revenue for the year ended June
30, 2014.

As of June 30, 2015, the Company had $1.46 million in total assets,
$2.32 million in total liabilities and a total stockholders'
deficit of $865,000.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, citing that the Company has accumulated losses
from operations since inception and has a working capital deficit
as of June 30, 2015.  These conditions raise substantial doubt
about the Company's ability to continue as a going concern.


ACTIVECARE INC: Needs More Time to File Fiscal 2015 Form 10-K
-------------------------------------------------------------
ActiveCare, Inc., filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its annual report on Form 10-K for the year ended
Sept. 30, 2015.  The Company said it needs additional time to
complete the presentation of its financial statements and the
analysis thereof.

                         About ActiveCare

South West Valley City, Utah-based ActiveCare, Inc., is organized
into three business segments based primarily on the nature of the
Company's products.  The Stains and Reagents segment is engaged in
the business of manufacturing and marketing medical diagnostic
stains, solutions and related equipment to hospitals and medical
testing labs.  The CareServices segment is engaged in the business
of developing, distributing and marketing mobile health monitoring
and concierge services to distributors and customers.  The Chronic
Illness Monitoring segment is primarily engaged in the monitoring
of diabetic patients on a real time basis.

The Company's business plan is to develop and market products for
monitoring the health of and providing assistance to mobile and
homebound seniors and the chronically ill, including those who may
require a personal assistant to check on them during the day to
ensure their safety and well being.

ActiveCare reported a net loss attributable to common stockholders
of $16.4 million for the year ended Sept. 30, 2014, compared to a
net loss attributable to common stockholders of $27.5 million for
the year ended Sept. 30, 2013.

As of June 30, 2015, the Company had $3.96 million in total assets,
$11.9 million in total liabilities and total stockholders' deficit
of $7.94 million.

Tanner LLC, in Salt Lake City, Utah, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Sept. 30, 2014.  The independent auditors noted that
the Company has recurring losses, negative cash flows from
operating activities, negative working capital, negative total
equity, and certain debt that is in default.  These conditions, the
auditors said, among others, raise substantial doubt about the
Company's ability to continue as a going concern.


ADAMS MILL: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: Adams Mill Enterprises LLC
        1400 Old Musket Lane
        Fort Washington, MD 20744-4178

Case No.: 15-00673

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: December 23, 2015

Court: United States Bankruptcy Court
       for the District of Columbia (Washington, D.C.)

Judge: Hon. Martin S. Teel, Jr.

Debtor's Counsel: Brent C. Strickland, Esq.
                  WHITEFORD, TAYLOR, & PRESTON L.L.P.
                  Seven Saint Paul Street
                  Baltimore, MD 21202-3324
                  Tel: (410) 347-8700
                  Email: bstrickland@wtplaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Purcell G. Conway, manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/dcb15-00673.pdf


AMERICAN APPAREL: Former Oak NYC Store Owners Buying Back Chain
---------------------------------------------------------------
Deborah Belgum at California Apparel News reports that Jeff
Madalena and Louis Terline have reached an agreement to buy back
from American Apparel their Oak NYC retail chain of two stores in
Los Angeles and two stores in the New York area.

The U.S. Bankruptcy Court for the District of Delaware has set a
hearing for Jan. 20, 2015, to consider the deal, Apparel News
states.

Apparel News relates that Messrs. Madalena and Terline offered
$600,000 and then $1.1 million.  The final offer, according to the
report, hasn't been disclosed.

                      About American Apparel

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

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

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

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


ARCH COAL: S&P Lowers CCR to 'SD' on Missed Interest Payment
------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on St. Louis-based Arch Coal Inc. to 'SD' from 'CC'.
At the same time, S&P lowered its issue-level ratings on the
company's senior unsecured notes to 'D' from 'CC'.  The recovery
rating on the notes remains '6', which continues to reflect S&P's
expectation for negligible (0%-10%) recovery in the event of a
conventional default.

S&P also lowered its issue-level rating on the company's first-lien
secured debt to 'CCC' from 'B-'.  The recovery rating is unchanged
at '2', indicating S&P's expectation for substantial recovery
(70%-90%; upper half of the range) in the event of a payment
default.  In addition, S&P lowered its issue-level rating on the
company's second-lien secured debt to 'C' from 'CCC-'.  The
recovery rating is unchanged at '6', indicating S&P's expectation
or negligible recovery (0%-10%) in the event of a payment default.

"If Arch makes the interest payment within the grace period, we
will likely revise the issuer credit rating to 'CCC-'," said
Standard & Poor's credit analyst Chiza Vitta.  "If the payment is
not made, we will consider the likelihood of other interest
payments being paid and revise the ratings accordingly."



ARCHDIOCESE OF ST. PAUL: Court Denies Bid for Future Claims Rep.
----------------------------------------------------------------
The Hon. Robert J. Kressel of the U.S. Bankruptcy Court for the
District of Minnesota denied the motion of The Archdiocese of Saint
Paul and Minneapolis to designate a legal representative for the
interests of future abuse claimants, including minors, and
appointing the initial representative.

According to the order, the constituency represented by the
creditors committee includes and extends to, among others, those
individuals who, on the confirmation date under any plan of
reorganization in the case, (a) had a claim for sexual abuse
against the Debtor; (b) were under a disability recognized by Minn.
Stat. Section 541.15; and (c) did not file a claim or have a claim
filed on their behalf.

In an amended memorandum in support of the motion, the Debtor
sought approval of John Esposito, managing director --
restructuring and transaction advisory of BRG Capstone, as the
future claims representative.

According to the Debtor, the appointment of a future (or unknown)
claims representative originally came before the Court on a motion
filed by the Official Committee of Unsecured Creditors.  The Debtor
did not oppose the representative suggested by the UCC in its
original motion.

Mr. Esposito has agreed to take a number of steps to minimize its
fees and expenses in the case.

In the original motion, Mr. Esposito and BRG said that they had
provided the parties-in-interest in the case with a fee estimate in
the amount of $150,000.  BRG has agreed that, in the event BRG
Capstone determines that its total fees will exceed the $150,000
estimate, BRG Capstone will promptly notify the Archdiocese and all
committees appointed in the case.

Several parties responded to the motion.  The Debtor, in its
response, stated that the representative should confirm the fee
estimate.

London Market Insurers said that if the Court enters an order
appointing a unknown claim representative, such representative will
represent only those persons who were sexually abused, who were
under a disability recognized by Minn. Stat. Section 541.15, and
who did not have a claim filed on their behalf, all before the
confirmation date.

                About the Archdiocese of St. 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.

                             *   *   *

The Debtor's exclusive period for filing a Chapter 11 plan and
disclosure statement ends on Nov. 30, 2015.


AVON PRODUCTS: Fitch Affirms 'B+' Long-term Issuer Default Rating
-----------------------------------------------------------------
Fitch Ratings affirms Avon Products, Inc.'s Long term Issuer
Default Rating (IDR) of 'B+' with a Negative Outlook upon the
announcement that Cerberus Capital Management (Cerberus) will (i)
make a $435 million 5% convertible preferred equity investment in
Avon, which represents 16.6% of diluted shares outstanding on an
as-converted basis, and (ii) invest $170 million for an 80%
ownership in Avon North America, which will be separated into a
privately held entity. These transactions are expected to close in
spring 2016. In addition, Avon will suspend its dividend of
approximately $108 million annually effective the first quarter of
2016.

KEY RATING DRIVERS

Fitch views the announcements positively in that the North American
business separation -- which had LTM sales of $731 million and
estimated EBITDA of $4 million -- removes a drag on both operating
trends and on management's time, and the cash infusion and dividend
suspension will provide a meaningful boost to Avon's liquidity.

However, as Fitch had factored in minimal contribution from the
North American business, the credit story has not materially
changed. Avon's key international markets remain under considerable
pressure as reflected in flattish-to-slightly negative organic
growth trends. Stabilizing the Outlook depends on Avon's ability to
articulate and begin to execute a credible turnaround plan to
stabilize volume and representative growth and stem EBITDA declines
at its January 2016 Analyst Day.

Of note, two key markets, Brazil and Russia, have seen increasing
levels of competition in the past several years and are in
recession. Argentina, a smaller market, appears headed for a
recession next year. As a result, Avon's Latin America region,
which generated almost 50% of revenues (moderately more
post-separation) and 70% of adjusted operating profit for the nine
months ended Sept. 30, 2015, has recorded negative volumes and rep
count declines. These are likely to continue given the economic
outlook and the lack of a plan to reverse the tide.

Negative F/X translation and transaction are having an outsized
impact on Avon's recent financial performance, with a strong
orientation toward the emerging markets of Brazil and Russia. The
company absorbed $315 million of F/X translation and transaction
costs in 2014. The run-rate year-to-date is higher at around $350
million.

KEY ASSUMPTIONS

-- The proposed transactions close as anticipated in spring 2016;

-- Organic revenue growth up around 1% in 2015, with negative
    volume trends being offset somewhat by high pricing. Positive
    organic growth of 2% in 2016 excluding North America;

-- Currencies hold at current levels negatively affecting
    revenues by about 19% in 2015 year, in line with management's
    November 2015 guidance;

-- EBITDA of approximately $575 million in 2015 and $525 million
    to $550 million in 2016;

-- Free cash flow negative in the $150 million range in 2015.

Preliminary FCF expected to be positive in 2016, north of $125
million with the dividend suspension as well as lower pension
payments and royalty stream from Avon North America to Avon.

RATING SENSITIVITIES

Positive

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

-- Stabilizing the Outlook is dependent on Avon's ability to
    articulate and begin to execute a credible turnaround plan at
    its January 2016 Analyst Day.

Negative:

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

-- Continued sales declines, which would be exemplified by active

    representative and volume declines accelerating toward and
    being sustained in the mid-single-digits range;

-- Significant EBITDA contraction to a level below $500 million.

-- Negative FCF past 2015 which would occur if the organization
    has not been rightsized for what appears to be a less than $7
    billion-revenue company which would eat into liquidity;

-- Sustained increases in leverage over 5x.

LIQUIDITY

Avon's liquidity should improve with the dividend suspension and
the receipt of a net $505 million from Cerberus in 2016. The $505
million is net of $100 million that Avon will contribute to Avon
North America to partially offset the approximately $230 million in
pension and other liabilities.

Avon intends to apply $250 million of proceeds towards repaying a
portion of the $850 million of debt maturing over 2018 and 2019.

At present, cash balances are unrestricted and available for debt
repayment but had declined to $587 million at the end of September
2015 from $1.2 billion in 2013. Including full availability on its
$400 million revolver that matures in 2020, total liquidity was
approximately $1 billion.

Fitch expects FCF (operating cash flow less capital expenditures
and dividends) be in the negative $150 million range in 2015.
Preliminary FCF is expected to be positive in 2016, north of $125
million with the dividend suspension as well as lower pension
payments..

Depending on how the $435 million preferred equity is structured,
the instrument could have an equity credit component. Fitch may
assign that component after documentation review. In the interim,
if viewed solely as debt, pro forma leverage as of the last 12
months ended Sept. 30, 2015 would increase modestly to 3.7x from
3.4x.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the followng ratings:

-- IDR at 'B+';
-- Senior unsecured notes at 'B+/RR4';
-- Short-term IDR at 'B'.

The Rating Outlook is Negative.




BACK9NETWORK INC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                      Case No.
      ------                                      --------
      Back9Network Inc.                           15-22192
      80 Statehouse Square #158
      Hartford, CT 06123

      Swing by Swing Golf, Inc.                   15-22193
      80 State House Square #158
      Hartford, CT 06123

Type of Business: The Debtors' primary businesses consist of
                  developing and selling media content and
                  information over the internet.

Chapter 11 Petition Date: December 23, 2015

Court: United States Bankruptcy Court
       District of Connecticut (Hartford)

Judge: Hon. Ann M. Nevins

Debtor's Counsel: Thomas J. Farrell, Esq.
                  HINCKLEY, ALLEN & SNYDER LLP
                  20 Church Street
                  Hartford, CT 06103
                  Tel: 860-725-6200
                  Fax: 860-278-3802
                  Email: tfarrell@haslaw.com

                    - and -

                  William S. Fish, Esq.
                  HINCKLEY, ALLEN & SNYDER LLP
                  20 Church Street
                  Hartford, CT 06103
                  Tel: 860-331-2700
                  Fax: 860-278-3802
                  Email: wfish@hinckleyallen.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Charles Cox, chief executive officer.

List of Back9Network's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Associated Construction              Construction        $388,617
1010 Wetgersfield Ave                Improvements
Suite 304
Hartford, CT 06114

Banc of California                 Equipment Lease       $110,754
P.O. Box 2149
Gig Harbor, WA 98335

Cheri Sundae Productions                Content          $217,000
                                      Acquisition

Constitution Plaza Holdings              Lease           $179,524

Day Pitney                          Legal Services       $267,069
PO Box 416234
Boston MA

DirecTV Corporate                     Marketing          $100,000

Edge Technology Services              Employment         $309,964
100 Roscommon Drive                    Services
Suite 120
Middletown, CT 06457

Encompass Digital Media, Inc.          Services          $114,894

Forum Financial Services                Leased           $830,375
275 West Campbell Rd.                  Equipment
Suite 320
Richardson, TX 75080

Getty Images GPS, LLP                Photo Rights        $212,421

Grass Valley                           Equipment         $684,971
2255 N. Ontario                          Lease
Stree, Suite 170
Burbank, CA 91504

HB Communications, Inc.                Equipment         $121,696
                                         Lease

IMG Productions                         Content           $780,000
432 W. 45th St.                       Acquisition
New York, NY 10036

Legacy Distribution, LLC                Content           $100,366
                                      Syndication

M2 Lease Funds                           Lease            $114,451
                                        Property

Phoenicia Sport & Entertainment        Sales Team         $533,320
P.O Bo.x 95                         Contract Vendor
Center Valley, PA
18034

Phoenix Life Insurance Company           Landlord         $110,551

Proskauer Rose LLP                   Legal Services       $133,580

Troutman Sanders LLP                     Attorneys        $176,541

VertitechIT                          Leased Equipment     $117,789


BACK9NETWORK INC: Files for Chapter 11, Working on Plan
-------------------------------------------------------
Back9Network Inc. and Swing by Swing Golf, Inc., engaged in the
business of developing and selling media content and information
over the internet, filed Chapter 11 bankruptcy petitions (Bankr. D.
Conn. Case Nos. 15-22192 and 15-22193, respectively) on Dec. 23,
2015.

Back9 was founded and incorporated in July, 2010, by a small group
of golf industry executives for the purpose of building a premier
golf lifestyle and entertainment 24/7-television network and
digital media company.  Back9 located its headquarters and
operations in Hartford, Connecticut because of the State of
Connecticut's attractive media tax credit programs and the local
availability of qualified and talented employees for its television
network.

Swing by Swing was acquired to promote and develop the mobile
application business of the same name in conjunction with marketing
and driving audience awareness of Back9's content.

According to a document filed with the Court, despite intense
efforts to generate additional advertising revenue, raise long term
capital, and secure additional television distribution, Back9
ultimately was forced to discontinue its television operations on
Feb. 23, 2015.  

"Due to the increasing consolidation within the U.S. pay television
distribution industry and the deceleration of U.S. pay television
household growth, Back9 was not able to attract the long-term
financing needed to grow and operate a 24/7 U.S. cable network,"
said William S. Fish, Jr., Esq., at Hinckley, Allen & Snyder LLP,
counsel to the Debtors.

Contemporaneously with the cessation of Back9's television
operations, Back9 was forced to layoff all of its employees, with
the exception of a small group of senior executives who remained
and took no salaries for an extended period of time as they worked
on restructuring the Debtors.  As of the Petition Date, Back9 has
only two remaining senior executives, each of whom has been paid
only $80,000 over the past 13 months as they worked to restructure
the Debtors.

As part of this restructuring effort, beginning in March, 2015,
Cardinal Advisors, LLC, the Debtors' financial advisor, reached out
to over 90 financial and strategic investors to explore a revamp of
the Debtors' businesses.

In April, 2015, Back9's board of directors signed a letter of
intent with a California-based private equity firm, which proposed
to purchase the Debtors' assets and restructure the Debtors'
liabilities outside of a bankruptcy process.  In July, 2015, the
State of Connecticut Department of Economic and Community
Development -- the Debtors' only pre-petition secured creditor --
determined that in order to best protect its interests, it could
not accept this letter of intent because it believed that any
restructuring of the Debtors needed to be pursued through a Chapter
11 bankruptcy process.

As a result, between July and September, 2015, Cardinal again
reached out to numerous financial and strategic investors to
explore interest in investing in the Debtors' businesses through a
Chapter 11 bankruptcy process.

The Debtors intend to file a plan of reorganization based on
significant negotiations that have taken place pre-petition.  The
proposed plan will be based on the digital platform that the
Debtors have developed.  Specifically, despite failing to create a
profitable television network, the Debtors have succeeded in
forming a compelling online platform consisting of widely-used
online websites, the Golf Application and an email newsletter with
a subscriber base of 1.7 million users.  The Debtors said that the
Digital Platform will leverage and grow the digital media assets
and the audience built by Back9 and Swing by Swing.

The petitions were signed by Charles Cox, the chief executive
officer.  The Debtors estimated assets and liabilities of $10
million to $50 million.  The Debtors have engaged Hinckley, Allen &
Snyder LLP as counsel.  Judge Ann M. Nevins has been assigned the
cases.


BACK9NETWORK INC: Obtains $2-Mil. DIP Commitment From GolfWorks
---------------------------------------------------------------
Back9Network Inc. and Swing by Swing Golf, Inc., seek authority
from the Bankruptcy Court to obtain $2 million post-petition senior
secured financing from GolfWorks LLC.  

The DIP Loan will be used to fund the Debtors' working capital
needs consistent with the budget and interim budget approved by the
DIP Lender and the State of Connecticut Department of Economic and
Community Development.  A significant portion of the proceeds of
the DIP Loan are also expected to be used to fund the Debtors'
proposed plan of reorganization.

The DIP Loan will mature on March 31, 2016.  Interest under the DIP
Loan is 6 percent per annum, with default interest of an additional
6 percent per annum.

"Without securing a post-petition source of capital, the Debtors
will be unable to continue to operate, maintain, and promote the
Digital Platform and will be unable to execute the intended
expansion and restructuring," says William S. Fish, Jr., Esq., at
Hinckley, Allen & Snyder LLP, counsel to the Debtors.

DECD, the Debtors' only pre-petition secured creditor, has
consented to the DIP Loan and will receive as adequate protection a
lien on all presently owned and hereafter acquired assets of the
Debtors as adequate protection.

The Debtors intend to use the initial proceeds of the DIP Loan to
expand the Digital Platform by hiring additional employees and by
increasing sales and marketing efforts, all with the goal of having
an improved and expanded Digital Platform when the golf season
begins again next spring.  The Debtors intend to pursue these
growth objectives while retaining its principal place of business
in Connecticut.

Moreover, the Debtors propose to use the cash collateral of DECD.
As of the Petition Date, the amount of cash collateral was below
$30,000 and DECD has consented to the use of cash collateral.

                       About Back9Network

Back9Network Inc. and Swing by Swing Golf, Inc., engaged in the
business of developing and selling media content and information
over the internet, filed Chapter 11 bankruptcy petitions (Bankr. D.
Conn. Case Nos. 15-22192 and 15-22193, respectively) on Dec. 23,
2015.  The petitions were signed by Charles Cox, the chief
executive officer.  The Debtors estimated assets and liabilities of
$10 million to $50 million.  The Debtors have engaged Hinckley,
Allen & Snyder LLP as counsel.  Judge Ann M. Nevins has been
assigned the case.


BACK9NETWORK INC: Seeks Joint Administration of Cases
-----------------------------------------------------
Back9Network, Inc., and Swing by Swing Golf, Inc., ask the
Bankruptcy Court to enter an order directing the joint
administration of their cases.

Federal Bankruptcy Rule 1015(b) provides, in relevant part, that if
"two or more petitions are pending in the same court by or against.
.. a debtor and an affiliate, the court may order a

joint administration of the estates."  Back9 is the parent company
of Swing by Swing and owns 100% of its issued and outstanding
stock.

Although Swing by Swing has no creditors, it owns the highly
popular golf course application that is part of the Debtors'
"Digital Platform" that will be the focus of the Debtors'
operations going forward.

The Debtors maintain creditors will be best served by joint
administration rather than monitoring and participating in two
separate cases.  Moreover, the Debtors said the resulting efficient
and convenient administration of the Debtors' interrelated Chapter
11 cases will yield cost savings for both
estates.  

The Debtors thus request that the Court maintain one docket file
with a consolidated caption, use a single docket for administration
matters, and allow and authorize them to file monthly operating
reports on a single consolidated basis.

                        About Back9Network

Back9Network Inc. and Swing by Swing Golf, Inc., engaged in the
business of developing and selling media content and information
over the internet, filed Chapter 11 bankruptcy petitions (Bankr. D.
Conn. Case Nos. 15-22192 and 15-22193, respectively) on Dec. 23,
2015.  The petition was signed by Charles Cox, the chief executive
officer.  The Debtors estimated assets and liabilities of $10
million to $50 million.  The Debtors have engaged Hinckley, Allen &
Snyder LLP as counsel.  Judge Ann M. Nevins has been assigned the
cases.


BACK9NETWORK INC: Wants to Employ Hinckley Allen as Counsel
-----------------------------------------------------------
Back9Network Inc. and Swing by Swing Golf, Inc., seek permission
from the Bankruptcy Court to employ Hinckley, Allen & Snyder LLP as
their counsel to:

   (a) advise the Debtors of their rights, powers and duties as
       Debtors and Debtors-in-possession continuing to operate and

       manage their businesses and properties;

   (b) advise the Debtors concerning and assist in the negotiation

       and documentation of financing agreements, debt
       restructuring, cash collateral orders and related
       transactions;

   (c) review the nature and validity of liens asserted against
       the property of the Debtors and advise the Debtors
       concerning the enforceability of those liens;

   (d) advise the Debtors concerning the actions that it might
       take to collect and to recover property for the benefit of
       their estates;

   (e) prepare on behalf of the Debtors certain necessary and
       appropriate applications, motions, pleadings, draft orders,

       notices, schedules and other documents and review all
       financial and other reports to be filed in this Chapter 11
       case;

   (f) advise the Debtors concerning, and prepare responses to,
       applications, motions, pleadings, notices and other papers
       which will be filed and served in this Chapter 11 case;

   (g) counsel the Debtors in connection with the formulation,
       negotiation and promulgation of a plan of reorganization
       and related documents; and

   (h) perform all other legal services for and on behalf of the
       Debtors that will be necessary or appropriate in the
       administration of the Chapter 11 case.

HAS will charge the Debtors for its legal services on an hourly
basis in accordance with its ordinary and customary rates:

              New Associates              $235
              Senior Partners             $780
              Legal Assistants          $175-$385

HAS has received a prepetition retainer of $65,000 for legal
services rendered in connection with the filing of the Chapter 11
petition.

To the best of the Debtors' knowledge, HAS has no connection with
them, their creditors or any other party-in-interest.

                        About Back9Network

Back9Network Inc. and Swing by Swing Golf, Inc., engaged in the
business of developing and selling media content and information
over the internet, filed Chapter 11 bankruptcy petitions (Bankr. D.
Conn. Case Nos. 15-22192 and 15-22193, respectively) on Dec. 23,
2015.  The petitions were signed by Charles Cox, the chief
executive officer.  The Debtors estimated assets and liabilities of
$10 million to $50 million.  The Debtors have engaged Hinckley,
Allen & Snyder LLP as counsel.  Judge Ann M. Nevins has been
assigned the cases.


BANESCO USA: Fitch Affirms IDRs 'B+' LT Issuer Default Rating
-------------------------------------------------------------
Fitch Ratings has affirmed the Long-and Short-term Issuer Default
Ratings (IDRs) of Banesco USA (BNSC) at 'B+ and 'B', respectively.
The Rating Outlook is Stable.

KEY RATING DRIVERS

IDRS AND VIABILITY RATINGS

BNSC's IDRs reflect the company's geographic and product
concentration, mainly in South Florida commercial real estate
(CRE), and a loan portfolio profile that includes exposure to
economic conditions in Latin America, primarily Venezuela. Further,
BNSC's ratings reflect a very limited franchise in South Florida,
and historically weak earnings metrics which have been negatively
affected by costs associated with remediating its ongoing consent
order with the FDIC stemming from BSA/AML deficiencies. Fitch
expects successful remediation of the consent order without
material fines and/or negative findings by regulators. Fitch
considers BNSC's asset quality profile to be in line with its
rating level. The company's ratings are supported by its adequate
capital levels and good liquidity profile.

Although BNSC is affiliated with the Banesco Group and shares
common ownership, BNSC does not incorporate a holding company
structure and there is no direct ownership linkage to Banesco Banco
Universal (BBU) in Venezuela. BNSC benefits from the 'Banesco'
brand, its strong recognition in Latin America, and BBU's market
leading position in Venezuela. BBU is Venezuela's largest privately
held bank in terms of deposit and assets. In Fitch's opinion,
contagion risk from BBU, which shares the same brand, is limited at
this time.

Fitch notes that there may be risks to BNSC's Venezuelan depositors
seeking other U.S.-based banking institutions in which to deposit
their monies in the event there is concern regarding BNSC or the
Banesco Group. However, to date, BNSC has actually benefited from
its association with the Banesco brand, despite volatility in
Venezuela, as demonstrated by its relatively stable deposit base.
Should a change in depositor behavior become evident, BNSC's
ratings may be impacted.

The company's good liquidity profile is driven by its large core
deposit base, and benefits from a high volume of international
deposits which make up 54% of total deposits. The majority of
international funding is sourced from Venezuelan depositors who
have turned to U.S. banks as a safe haven. These deposits typically
have a very low attrition rate, limited rate sensitivity and
provide a stable source of low-cost funding. In an effort to reduce
reliance on Venezuelan funding, management has been working to grow
domestic deposits in conjunction with loan growth. Fitch views the
diversification of funding sources positively. Furthermore, BNSC
maintains a high level of cash and liquid assets to support
immediate liquidity needs.

In Fitch's view, the lack of access to external capital is
considered a rating constraint. That said, BNSC's capitalization is
appropriate for the risk profile of the institution. As of Sept.
30, 2015, the company's Fitch core capital/risk weighted assets
ratio was 11.85% and its tangible common equity/tangible assets
ratio was 9.30%. Although Fitch considers the capital base
sufficient to support risks within the business mix, further
balance sheet growth coupled with limited profitability may impact
capital ratios.

BNSC's earnings measures tend to be weak when compared to other
community banks and are considered a rating constraint. Fitch
attributes this to historically higher efficiency ratios, even
excluding costs associated with remediating the FDIC consent order,
which have been partially offset by stronger margins. Net interest
margins, however, have been historically supported by accretion
income associated with credit impaired loans purchased from
Security Bank as well as deposit cost advantages associated with
its low-cost international deposits. Prospectively, we expect
earnings to be constrained as the company focuses on diversifying
its deposit mix by adding more domestically-sourced deposits, which
are higher cost, and as accretion income declines. Further,
earnings may be hindered given the ongoing focus on remediating its
consent order, coupled with still-low interest rates.

Fitch considers BNSC's asset quality profile to be reflective of
the rating level. The company has exhibited strong growth in recent
years, particularly in CRE and commercial credits. Moreover, Fitch
also considers BNSC to be product and geographically concentrated,
as CRE represents over 400% of capital and is concentrated in the
Miami-Dade MSA. Additional credit risk considerations include the
effects of sovereign risk in the international loan portfolio,
which makes up approximately 14% of total loans. Over half of the
international portfolio consists of exposure to borrowers in
Venezuela and is mainly secured by residential, and, to a lesser
extent, CRE properties in South Florida as well as cash deposits.
Although economic instability remains a concern in Venezuela,
credit risk is offset by the strong level of collateral protection
and the company's prudent non-resident credit underwriting
standards. Although credit performance has been solid over the past
several quarters, and has dramatically improved since the financial
crisis, asset quality indicators may be benefitting from recent
rapid loan portfolio growth.

SUPPORT RATING AND SUPPORT RATING FLOOR

BNSC has a Support Rating of '5' and Support Rating Floor of 'NF'.
In Fitch's view, BNSC is not systemically important and, therefore,
the probability of support is unlikely. The IDRs and VRs do not
incorporate any support. Historically, BNSC's principal
shareholders have demonstrated a willingness to provide capital;
however, Fitch's rating analysis does not assume capital support
from the shareholders.

LONG- AND SHORT-TERM DEPOSIT RATINGS

BNSC's uninsured deposit ratings are rated one-notch higher than
the company's IDR because U.S. uninsured deposits benefit from
depositor preference. U.S. depositor preference gives deposit
liabilities superior recovery prospects in the event of default.

RATING SENSITIVITIES
IDRS AND VRS

Sustained and improved profitability combined with the maintenance
of strong credit performance would be considered positive rating
drivers. Given BNSC's ties to the Banesco Group and in particular
the Venezuelan deposit base, material positive rating momentum may
only occur following stabilization of the operating environment in
Venezuela.

Ratings could be negatively affected if BNSC experienced a
declining trend in its depositor base and/or if unexpected adverse
events affect Banesco Group. Fitch notes that there may be risks to
BNSC's Venezuelan deposit base such as depositors seeking other
U.S.-based banking institutions in which to deposit their monies
given concerns with BBU and/or depositors withdrawing their funds
to make routine operational purchases as inflation rises further in
Venezuela.

Banesco's recent growth in commercial and industrial (C&I) loans
has outpaced peers. Credit performance has remained stable to date.
However, should credit losses deteriorate materially, thereby
impacting capital, negative rating action could ensue.

SUPPORT RATING AND SUPPORT RATING FLOOR

BNSC's Support Rating and Support Rating Floor are sensitive to
Fitch's assumption around capacity to procure extraordinary support
in case of need. Since BNSC's Support and Support Rating Floors are
'5' and 'NF', respectively, there is limited likelihood that these
ratings will change over the foreseeable future.

LONG- AND SHORT-TERM DEPOSIT RATINGS

The ratings of long- and short-term deposits issued by BNSC are
primarily sensitive to any change in BNSC's long- and short-term
IDRs.

PROFILE

Banesco USA was established in 2006 by the principal shareholders
of the Banesco Group and provides traditional banking services,
primarily real estate financing, to retail clients as well as to
small-to-medium-sized companies. Services are offered via a total
of six branches with three throughout Miami-Dade County, two in
Broward County and one in San Juan, Puerto Rico. Banesco USA is
based in Coral Gables, FL.

Fitch has affirmed the following:

Banesco USA (BNSC)
-- Long-term IDR at 'B+'; Outlook Stable;
-- Short-term IDR at 'B';
-- Long-term deposits at 'BB-';
-- Short-term deposits at 'B';
-- Viability Rating at 'b+';
-- Support at '5';
-- Support Floor at 'NF'.



BERNARD L. MADOFF: Altegrity Unit to Pay $24M to Settle Claims
--------------------------------------------------------------
Bryan Koenig at Bankruptcy Law360 reported that an Altegrity
subsidiary asked the Delaware bankruptcy judge overseeing its
parent's Chapter 11 proceeding on Dec. 17, 2015, to sign off on a
$24 million settlement with claimants bilked in Robert Allen
Stanford's $7 billion Ponzi scheme.

Under the proposed settlement, Altegrity subsidiary Kroll LLC will
pay the money in cash to the officially established committee of
Stanford's bilked investors, well as the receiver appointed to take
control of Stanford's assets, and others serving as liquidators of
Stanford's various companies.

                     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.


BG MEDICINE: Withdraws BGM Galectin-3 Premarket Notification
------------------------------------------------------------
BG Medicine, Inc., announced that it has submitted to the FDA a
notice of withdrawal of its 510(k) premarket notification filing
with the US Food and Drug Administration that was submitted in
order to obtain regulatory clearance to market its BGM Galectin-3
Test for a potential new indication for use as an aid in the
assessment of the near-term risk of fatal cardiovascular events in
older adults who have no prior history of cardiovascular disease,
cerebrovascular disease or vascular disease.

As previously disclosed, on March 31, 2015, BG Medicine filed for
510(k) premarket notification with the FDA in order to obtain
regulatory clearance for this new indication for the manual
micro-titer formatted (manual version) BGM Galectin-3 Test.  In
August 2015, the Company received a request for additional
information from the FDA, including information regarding the
intended use of its test for this new indication, its clinical
validation study and additional statistical analyses.  The Company
submitted its response to the FDA in November 2015.  On Dec. 17,
2015, the Company conducted a follow up discussion with the FDA
regarding its November 2015 response.  On Dec. 18, 2015, following
that additional dialogue with the FDA, the Company concluded that
demonstrating the clinical utility of its test for this proposed
new indication would require a broadening of the defined indication
to include aiding in the assessment of the near-term risk of both
fatal and non-fatal cardiovascular events in the Company's study
population and, as a result, a new 510(k) submission.  Accordingly,
the Company submitted to the FDA a notice of withdrawal of the
510(k) notification that it submitted on March 31, 2015.  The
Company plans to evaluate what additional data, studies and
analyses would be required to support a new submission and a
broader indication for use.

"We believe that the decision to withdraw this submission and to
evaluate the possibility of pursuing the assessment of near-term
risk for both fatal and non-fatal cardiovascular events among older
adults, a more clinically useful indication for use, provides the
best opportunity to create value from the work that we have
completed to date," said Paul R. Sohmer, M.D., president and chief
executive officer of BG Medicine, Inc.  "That being said, our
primary focus near term remains the U.S. market introduction of
automated testing for galectin-3."

The BGM Galectin-3 Test, a manual micro-titer based assay for
galectin-3, was cleared by the FDA in November 2010 and is
currently in use in both the U.S. and abroad as an aid for
evaluating the risk of adverse events, including unplanned
hospitalizations, and cardiovascular and other fatal events, in
patients with chronic heart failure.  Automated testing for
galectin-3 in patients with chronic heart failure was cleared by
the FDA in December 2014 and introduced in the U.S. in mid-2015. BG
Medicine's primary focus has been to support the market
introduction of automated testing for galectin-3 in patients with
chronic heart failure since the first automated test for galectin-3
was introduced in the U.S. in mid-2015.

"We continue to believe that the clinical and commercial value of
testing for galectin-3 may extend beyond its current indication for
use," said Dr. Sohmer.  "As a result, subject to obtaining
significant additional financing to support the clinical studies
required for clearance, or approval, by regulatory bodies, such as
the FDA, we expect to continue to pursue new indications for use
and clinical claims that may expand the clinical utility and market
opportunity for galectin-3 testing."

                        About BG Medicine

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

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

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

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


BRADLEY S. KIDWELL: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Bradley S. Kidwell Family, LP
           dba McKinney Flour Mill
        504 Bluebonnet
        Allen, TX 75002

Case No.: 15-42268

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: December 24, 2015

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Reedy Macque Spigner, Esq.
                  SPIGNER & ASSOCIATES, PC
                  555 Republic Drive, Suite 430
                  Plano, TX 75074
                  Tel: (972) 881-0581
                  Fax: (972) 424-1309
                  Email: spigner@glocktech.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bradley Kidwell, president.

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


C COMPANY HYDROVAC: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: C Company General Contractors, LLC
           aka C Company
           aka C Company Hydrovac
        506 2nd Street East
        P.O. Box 2739
        Williston, ND 58802

Case No.: 15-30554

Chapter 11 Petition Date: December 23, 2015

Court: United States Bankruptcy Court
       District of North Dakota (Fargo)

Judge: Hon. Shon Hastings

Debtor's Counsel: Kip M. Kaler, Esq.
                  KALER DOELING, PLLP
                  3429 Interstate Blvd. S.
                  P.O. Box 9231
                  Fargo, ND 58106
                  Tel: 701-232-8757
                  Fax: 701-232-0624
                  Email: kip@kaler-doeling.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Seth Church, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ndb15-30554.pdf


CAMBRIDGE ACADEMY: Fitch Affirms 'BB-' Rating on Revenue Bonds
--------------------------------------------------------------
Fitch Ratings has affirmed the 'BB-' rating on the $7.2 million
outstanding charter school revenue bonds, series 2010, issued by
the Industrial Development Authority of the County of Pima, Arizona
on behalf of Cambridge Academy East (CAE).

The Rating Outlook is Stable.

SECURITY

The bonds are a general obligation of CAE, secured by a first
mortgage on the financed facilities and a cash-funded debt service
reserve sized to transaction maximum annual debt service (TMADS).
There is an intercept mechanism in place directing state funding
disbursements to the trustee to cover debt service on the bonds
before monies are released to the school for operations. The Fitch
rating does not incorporate the intercept mechanism.

KEY RATING DRIVERS

ADEQUATE FINANCIAL PERFORMANCE: CAE's operating margin weakened in
fiscal 2015, following two consecutive years of improvement. While
the margin was negative 2.2% on a GAAP basis, annual coverage was
sufficient at 1.0x. The decline was attributable to lower state per
pupil funding due to a decline in average daily membership and a
one-time loss on investment property. CAE's very thin balance sheet
and high debt burden remain rating concerns.

ENROLLMENT VOLATILITY BUT STRONG ACADEMIC PERFORMANCE: CAE's Queen
Creek campus continues to experience enrollment declines resulting
in part from increased competition from neighboring charter and
district schools. Student academic performance improved at both
campuses in 2014, with both campuses receiving higher scores and
overall ratings of 'A' by the Arizona State Board for Charter
Schools (ASBCS or the board).

WEAK FINANCIAL CUSHION: Characteristic of most charter schools
rated by Fitch, CAE's balance sheet resources remain limited on
both a nominal and ratio basis, providing minimal cushion relative
to operating expenses and debt.

HIGH DEBT BURDEN: CAE's debt burden remains high; TMADS was 20.8%
of fiscal 2015 operating revenue. The debt to net income ratio,
measuring the number of years of cash flow needed to repay
outstanding principal was also high, at 10.7 years, an increase
from 7.3 in fiscal 2014. The school was able to cover TMADS from
operations for the past three fiscal years (1.0x in 2015, weaker
than 1.6x in fiscal 2014), although debt manageability could be
stressed going forward if enrollment declines persist.

RATING SENSITIVITIES

ABILITY TO STABILIZE ENROLLMENT: Given Cambridge Academy East's
high reliance on per pupil funding for operating support, its
inability to stabilize enrollment and improve operating margins
would stress operations and cause negative rating pressure.

CHARTER RELATED CONCERNS: A limited financial cushion; substantial
reliance on enrollment-driven per pupil funding; and charter
renewal risk are credit concerns common among all charter schools
that, if pressured, could negatively impact the rating.

CREDIT PROFILE

Founded by a family of educators, CAE is a charter school serving
grades K-8. Originally chartered in 2002, CAE is in year 13 of its
initial 15-year charter. CAE has submitted their intent to renew
under their charter to the ASBCS, the charter authorizer. ASBCS
notes that CAE currently remains in compliance with all
requirements under its charter. The school began operations in 1999
and currently operates two campuses, Mesa currently serving grades
K-6 and Queen Creek currently serving grades K-8, both situated in
Maricopa County, AZ. Fitch continues to view CAE's highly
interconnected board and administrative structure as less than
ideal. Close ties maintained between the board, senior management,
and the founding family constitutes a governance structure
inconsistent with the independence typically expected by Fitch.
However, CAE's management team remains committed and effective,
despite it and the board maintaining multiple inter-related
business and family ties.

VOLITILE OPERATING RESULTS

Operating results remain volatile. Margins weakened in fiscal 2015
to negative 2.2%, following marked improvement to positive 5.7% in
fiscal 2014 from negative 5.3% in fiscal 2013. Management reports
that weak fiscal 2015 results were attributable to a one-time loss
on investment property and lower state per pupil funding resulting
from lower than projected average daily membership.

CAE has a small revenue base, contributing to operating volatility,
with just $3.2 million in operating revenue for fiscal 2015.
Typical of most charter schools, revenue flexibility is very
limited with about 90% of CAE's operating revenues derived from
state funding. Favorably, the funding environment improved slightly
in Arizona over the past two years. The fiscal 2015 base level was
$3,373 per student with additional assistance of $1,708 for K-8, a
1.4% increase over the prior year. For fiscal 2016, the base level
improved slightly (1.6%) to $3,427 with additional assistance of
$1,735. Management estimates that state funding should increase by
a minimum of 2% annually over the next few years.

The school's fiscal 2016 budget shows a slight increase in revenues
and expenditures of approximately 2% over the 2015 budget. As of
the end of fiscal 2016 first quarter (Sept. 30), CAE recorded net
income of $82,000 and management expects to end the fiscal year
with slightly positive operations.

INCREASED COMPETITION; ENROLLMENT VOLATILITY

The Queens Creek campus is facing increased competition - three new
charters opened this past year. Additionally, the campus has been
plagued by administrative issues leading to several teacher
resignations which has negatively impacted enrollment. Concerns,
however, are partially offset by strong academic performance and
management's success to date to manage expenses accordingly. For
2014, the Mesa campus retained its state accountability grade of
'A', with an overall score of 78 (up from 70 in 2013). The Queen
Creek campus was upgraded to 'A' from 'B' following implementation
of a turnaround plan, with its score improving to 87.5 from 68.8 in
2013. Both campuses met their annual measurable objectives, which
are used to measure school performance. State academic performance
measures are being revised so grades will be on hiatus for 2015 and
2016 and when available will not be comparable to 2014.

Due to the competitive environment, CAE has experienced ongoing
enrollment pressure in recent years. Average daily membership
(ADM), which determines state per pupil funding, fell in fiscal
2016 to 426 as of the 40-day count compared to 438 and 544 in
fiscal 2015 and 2014, respectively. For the 2015-2016 school year,
458 students are presently enrolled at CAE's two campuses; 220 at
Mesa and 238 at Queen Creek compared to 463 for the 2014-2015
school year. While the Mesa campus gained 22 students, Queens Creek
enrollment declined by 27 students.

CAE's high state rating as measured by academic performance should
help the campuses to maintain and/or restore some level of demand
despite a competitive environment. Fitch will continue to monitor
CAE's enrollment and demand trends, noting that further enrollment
declines could stress operating performance and lead to negative
rating action.

WEAK LIQUIDITY AND HIGH DEBT BURDEN

CAE's balance sheet liquidity remains limited and provides a very
thin financial cushion relative to operating expense and debt.
Available funds, or cash and cash equivalents not permanently
restricted, decreased to $394,000 as of June 30, 2015 from $502,000
as of June 30, 2014, and only covered fiscal 2015 operating
expenses ($3.2 million) and outstanding debt ($8.0 million) by a
low 12.2% and 5.3%, respectively.

The series 2010 bonds and a small capital lease (approximately
$19,000) are the school's only debt outstanding. Its debt burden
remains high and increased in fiscal 2015 with TMADS of about
$660,000 representing 20.8% of fiscal 2015 operating revenues.
Coverage of TMADS of 1.0x from 2015 operations was lower than the
past two years - 1.1x and 1.6x in fiscal years 2013 and 2014,
respectively - but still better than previous years (2011 and 2012
had below 1x coverage).

Pro forma debt to net available income was high at 10.7x in fiscal
2015 and worse than in prior years as fiscal 2015 operating results
were lower. CAE has no material capital needs or additional
borrowing plans for either campus, which is viewed positively as
Fitch does not believe CAE has any additional debt capacity.

Rating stability will depend on CAE's ability to maintain breakeven
to positive operating results, while stabilizing enrollment and
controlling expenses.



CAPELLA HEALTHCARE: S&P Affirms Then Withdraws 'B' CCR
------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Capella Healthcare Inc. and removed the rating
from CreditWatch, where it was placed with positive implications on
July 28, 2015.  The outlook is stable.

S&P is subsequently withdrawing all ratings, including all
issue-level ratings, on Capella.

"The rating actions follow the completion of MPT's acquisition of
Capella's hospital properties and a minority stake in the company's
operations for $900 million, and the retirement of all rated
Capella debt," said Standard & Poor's credit analyst Shannan
Murphy.

While Capella's financial debt has been repaid, the company is
incurring $300 million in preferred equity (which our criteria
treat as debt) and a long-term lease obligation with respect to its
hospitals.  For this reason, S&P believes that credit quality is
unchanged relative to the pre-acquisition capital structure.



CARSON CIVIC CENTER: Case Summary & 3 Top Unsecured Creditors
-------------------------------------------------------------
Debtor: Carson Civic Center Property, LLC
        3815 Alonzo Avenue
        Encino, CA 91316

Case No.: 15-14138

Chapter 11 Petition Date: December 22, 2015

Court: United States Bankruptcy Court
       Central District of California (San Fernando Valley)

Judge: Hon. Maureen Tighe

Debtor's Counsel: Raymond H Aver, Esq.
                  LAW OFFICES OF RAYMOND H AVER APC
                  1950 Sawtelle Blvd Ste 120
                  Los Angeles, CA 90025
                  Tel: 310-473-3511
                  Fax: 310-473-3512
                  Email: ray@averlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Benjamin Donel, manager.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb15-14138.pdf


CEQUEL COMMUNICATIONS: Moody's Lowers CFR to B3, Outlook Stable
---------------------------------------------------------------
Moody's Investors Service has downgraded the Corporate Family
Rating of Cequel Communications Holdings I, LLC two notches to B3
following the announcement by the Federal Communications Commission
that it approved the acquisition of a majority equity interest in
Cequel by Altice Luxembourg S.A and the transaction closed on Dec.
21, 2015.  The original agreement was struck on May 20, 2015, and
valued Cequel at $9.2 billion, or approximately 10x EBITDA.
Moody's has downgraded Cequel's secured credit facility rating one
notch to Ba3, as well Cequel's unsecured notes rating to Caa1, from
B3.  The outlook is stable.  Altice had previously issued
approximately $2.2 billion of new debt at various financing escrow
entities, including the Ba3 senior secured debt at Altice US
Finance I Corporation, and Caa1 senior unsecured debt at Altice
Finance II Corporation.  They have been assumed by Cequel
Communications, LLC and Cequel Communications Holdings I, LLC,
respectively at the closing of the transaction. The company's
speculative-grade liquidity rating is maintained at SGL-2.  Also,
the B3 CFR, B3-PD and stable outlook at Altice US Holding I
S.a.r.l. have been withdrawn.  This rating action concludes the
review for downgrade initiated on May 20, 2015.

Summary of action:

Downgrades:

Issuer: Cequel Communications Holdings I, LLC

  Corporate Family Rating, Downgraded to B3 from B1

  Probability of Default Rating, Downgraded to B3-PD from B1-PD

  Senior Unsecured Regular Bond/Debenture, Downgraded to Caa1
   (LGD5) from B3 (LGD5)

Affirmations:

Issuer: Cequel Communications Holdings I, LLC

Speculative Grade Liquidity Rating, Affirmed SGL-2

Outlook Actions:

Issuer: Cequel Communications Holdings I, LLC
  Outlook, Changed To Stable From Rating Under Review

Issuer: Cequel Communications, LLC
  Senior Secured Bank Credit Facilities, Downgraded to Ba3 (LGD2)
   from Ba2 (LGD2)

Outlook Actions:

Issuer: Cequel Communications, LLC
  Outlook, Changed To Stable From Rating Under Review

Withdrawals:

Issuer: Altice US Holding I S.a.r.l.

  Probability of Default Rating, Withdrawn , previously rated
   B3-PD

  Corporate Family Rating, Withdrawn , previously rated B3

Outlook Actions:

Issuer: Altice US Holding I S.a.r.l.
  Outlook, Changed To Rating Withdrawn From Stable

RATINGS RATIONALE

The B3 CFR reflects the company's very high leverage, its limited
free cash flow and the parent company's aggressive financial
policy.  Pro forma for the transaction and excluding any proposed
synergies, Cequel's total consolidated leverage will be
approximately 8x debt to EBITDA (Moody's adjusted, and including
seller notes), which creates risk for a company in a capital
intensive, competitive industry.

Offsetting these limiting factors are Cequel's stable market
position with a strong base of network assets and limited
competition within its footprint other than telco DSL.
Notwithstanding the maturity of the core video product, the
relative stability of the subscription business provides steady
cash flow, and the high quality of Cequel's network positions it
well to achieve growth in its residential and commercial businesses
despite escalating competition.  The company's penetration lags
behind industry averages, but Moody's expects its high speed data
and phone growth to continue to exceed most peers and views the
planned infrastructure upgrade investment as a credit positive use
of cash that will help Cequel maintain if not grow market share.

Altice plans to aggressively cut costs at Cequel, with targeted
productivity improvements and headcount reductions which aim to
produce substantial headcount-related cost savings.  Moody's
believes that the cost reductions are possible, but that the
company may risk its market position if service quality
deteriorates.  In general, Moody's believes that Cequel has been a
well-run cable company and that the opportunity to dramatically
reduce operating expense may be difficult or result in operational
disruption.  However, Cequel's end markets are less competitive
relative to the overall US cable industry, which may insulate
Altice from market share erosion in the near term.  Over a longer
time frame, Moody's believes that aggressive cost reductions will
lead to a weakened competitive position or could invite regulatory
scrutiny.  Altice's ability to dramatically improve profitability
in such a short timeframe is unproven in this environment.  This
results in credit weakness, especially when combined with very high
financial risk.

Moody's would consider an upgrade of Cequel's CFR if leverage were
to be sustained below 6.5x, improving market share and good
liquidity.  Moody's could downgrade Cequel if market share or
liquidity deteriorates or if leverage rises meaningfully.

Headquartered in St. Louis, Missouri, and doing business as
Suddenlink Communications, Cequel Communications Holdings I, LLC
(Cequel) serves approximately 1.1 million video subscribers, 1.3
million internet subscribers, and 600 thousand telephony
subscribers.  The company generated revenues of approximately $2.4
billion for the twelve months ended September 30.  BC Partners, CPP
Investment Board and certain members of Cequel's executive
management acquired Cequel in November 2012.

The principal methodology used in these ratings was Global Pay
Television - Cable and Direct-to-Home Satellite Operators published
in April 2013.

Altice Luxembourg S.A. is a Luxembourg-based holding company, which
through its subsidiaries Numericable-SFR S.A. and Altice
International S.a.r.l operates a multinational telecommunications
and cable business. Numericable-SFR operates in France while Altice
International currently has a presence in four regions—Dominican
Republic, Israel, Western Europe and the French Overseas
Territories.  Altice S.A. is controlled indirectly by French
entrepreneur Patrick Drahi.



CHESAPEAKE ENERGY: S&P Cuts CCR to 'B' on Revised Risk Assessment
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Oklahoma City-based exploration and production company
Chesapeake Energy Corp. to 'B' from 'BB-'.  The outlook is
negative.

At the same time, S&P removed the senior unsecured debt rating from
CreditWatch with negative implications and lowered it to 'CCC+'
from 'BB-' and revised the recovery rating to '6' from '4'. The '6'
recovery rating indicates S&P's expectation for negligible recovery
(0% to 10%).  In addition, S&P lowered the rating on the company's
senior secured debt to 'BB-' from 'BB+'.  The recovery rating on
the secured debt remains '1', indicating S&P's expectation for very
high recovery (90%-100%).  S&P also lowered its rating on the
company's preferred stock to 'CCC' from 'B-'.

"We have reassessed Chesapeake's business risk and have revised our
assessment lower to fair from satisfactory, said Standard & Poor's
credit analyst Paul Harvey.  "We expect profitability to continue
to suffer due to low natural gas and crude oil prices, compounded
by very high costs related to its gathering and processing
contracts," he added.

This offsets otherwise good operating costs and the benefits of
scale typically provided for a company of this size.  The downgrade
also reflects S&P's assessment of the risk that the current market
conditions could make it more difficult to make large asset sales
on favorable terms.  Asset sales are an important contributor to
available cash to support long-term liquidity.  Although based on
preliminary results of Chesapeake's exchange offer, outstanding
debt should fall by about $1.5 billion, S&P's financial risk
profile assessment remains highly leveraged.  Moreover, the
tendered offer failed to significantly ease the upcoming need to
address about $2.5 billion of debt maturities or puts through
2017.

The lowering of the senior unsecured debt rating reflects both the
lower corporate credit rating, as well as lower recovery prospects
following the increase in permitted junior-lien debt; up to
$4 billion.  S&P assess Chesapeake's business risk profile as fair.
S&P considers Chesapeake's financial risk profile to remain highly
leveraged, pro forma for the company's exchange offer.  S&P
currently assess Chesapeake's liquidity as adequate.

The negative outlook reflects S&P's expectation that liquidity
could significantly weaken during the next 12 months due to high
negative free cash flows and potential negative borrowing base
redeterminations.  Chesapeake will face challenging industry
conditions exacerbated by its high debt levels.  Additionally,
given uncertainty in natural gas and crude oil prices combined with
weaker capital markets for the sector, S&P believes achieving large
asset sales will be challenging.  Finally, S&P expects financial
measures to remain weak despite the expected reduction in debt
following Chesapeake's recent exchange offer.  FFO to debt will be
below 8% and debt to EBITDA about 8x under S&P's base-case
assumptions.

S&P could lower ratings if it assessed liquidity as less than
adequate, or inadequate to address 2017's maturities and puts. This
could occur if negative free cash flow exceeds S&P's base case
forecast, or if the borrowing base is substantially lowered at the
upcoming April 2016 redetermination.  Given the need to address its
2017 maturities and putable debt, there is a heightened risk of
additional exchanges.  S&P could also lower ratings if Chesapeake
pursued exchanges S&P assessed as distressed.  Finally, S&P could
lower ratings if it expected debt to EBITDA to be sustained above
9x, most likely if S&P expected natural gas prices to be sustained
below $2.50/mmbtu.

S&P could return the rating outlook to stable if Chesapeake can
address upcoming maturities and putable debt such that it is
expected to preserve adequate liquidity while addressing 2017's
refinancing needs.  This could be in conjunction with a material
asset sale, or a sustained improvement in natural gas and crude oil
prices that reduce negative free cash flow.   At the same time, S&P
would expect financial measures to improve on a sustained basis
such that FFO to debt was 8% or better and debt/EBITDA was below
7x.  Both events are most likely to occur in conjunction with
natural gas prices exceeding $2.75/mmbtu.



CLOUDEEVA INC: Nisivoccia LLP Okayed as Ch. 11 Trustee's Accountant
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey authorized
Richard B. Honig, successor Chapter 11 trustee for Cloudeeva, Inc.,
et al., to employ Nisivoccia LLP as his accountants.

Nisivoccia is expected to review the Debtors' books and records in
connection with its 401(k) Plan and to prepare an audit of the
financial statements of the 401(k) Plan as of Dec. 31, 2014, and
any necessary related documents in order to comply with reporting
requirements under the Employee Retirement Income Security Act of
1975.

The firm will be paid a fee estimated between $10,000 to $12,000
and will be paid a retainer on account of said fee in the amount of
$6,000.  Fees will be based upon time expended at these hourly
rates:

   Staff                                  $100 - $135
   Supervisors and managers               $160 - $230
   Partners                                  $345

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

                      About Cloudeeva, Inc.

Cloudeeva, Inc., a public company previously known as Systems
America, Inc., is a global cloud services and technology solutions
company specializing in cloud, big data and mobility solutions and
services.  The company provides information technology staffing
services to major clients and third party vendors in the United
States and India.  The company headquarters are in East Windsor,
New Jersey, with regional offices in California, Illinois and
international offices in India.

Cloudeeva, Inc., and its affiliates sought Chapter 11 bankruptcy
protection (Bankr. D.N.J. Lead Case No. 14-24874) in Trenton, New
Jersey, on July 21, 2014.  The cases are assigned to Judge Kathryn
C. Ferguson.

Cloudeeva disclosed $4,989,375 in assets and $6,528,910 in
liabilities as of the Chapter 11 filing.  The company said only
$209,000 is owing to its lender Prestige Capital Corp. and more
than $5.2 million is owed for trade vendor payables.

The Debtors originally tapped Lowenstein Sandler LLP as counsel.
However, they later sought approval of Trenk, DiPasquale, Della
Fera & Sodono, P.C., to replace Lowenstein Sandler, who retention
was not formally approved by order of the Court.  The Debtors also
tapped Cole, Schotz, Meisel, Forman & Leonard, P.A. as appellate
counsel.  Kurtzman Carson Consultants LLC serves as claims and
noticing agent.

                           *     *     *

On Aug. 22, 2014, Judge Ferguson entered an order dismissing the
Debtors' Chapter 11 cases at the behest of Bartronics Asia PTE Ltd.
BAPL asserted that the cases were not filed in good faith. The
Debtors subsequently filed an appeal challenging the dismissal of
their cases.

Since then, District Judge Joel A. Pisano for the District of New
Jersey entered an order staying the Case Dismissal Order pending
further proceedings. Simultaneously, Judge Pisano reinstated the
Debtors' bankruptcy cases and authorized the Debtors to be in
possession of their assets and the management of their business as
debtors-in-possession, subject to the continuing jurisdiction of
the Bankruptcy Court and any further orders of the Bankruptcy
Court or the District Court.

The Debtor filed a Plan of Reorganization and Disclosure Statement
on Oct. 7, 2014.  The Plan will be funded by cash on-hand on the
Effective Date, cash revenues derived from the Debtors' continued
operations, and investment of $1.15 million from Cloudeeva India
Private Limited or their designee, along with their guarantee of
all payments to be made under Plan, in exchange for the equity of
the Reorganized Debtors, as agreed in the parties' Plan Support
Agreement.

That Plan was withdrawn in February 2015.

The Court approved the appointment of Stephen Gray as Chapter 11
trustee for the Debtors' estate.  The trustee was represented by
Saul Ewing LLP.  Richard B. Honig was later appointed as the
Chapter 11 successor trustee for Cloudeeva Inc.


COYNE INTERNATIONAL: SSG Served as Investment Banker in Asset Sale
------------------------------------------------------------------
SSG Capital Advisors, LLC acted as the investment banker to Coyne
International Enterprises Corp. in the sale of substantially all of
its assets to Cintas Corporation No. 2, Prudential Overall Supply,
Inc., Clean Rentals, Inc. and Pendera Holdings, LLC.  The sale was
effectuated through a Chapter 11 Section 363 process in the U.S.
Bankruptcy Court for the Northern District of New York and closed
in December 2015.

Coyne operated for more than 80 years and grew into one of the
largest privately-owned industrial laundry companies in the United
States.  The large majority of the Company's recurring route-based
revenue is derived from its garment rental business.  The Company
offers an extensive portfolio of products and services: Coyne
rents, leases, sells, and launders textile products including
workplace uniforms, career apparel, protective garments, shop
towels, reusable absorbent socks and pads, floor mats, treated dust
mops and wet mops.  The Company also provides linens, mats, towels,
and restroom hygiene products including restroom towels,
sanitizers, deodorizers, and soaps.

In 2013, Coyne experienced a decline in revenue and profitability
due to the loss of certain key customers.  In response, management
implemented personnel and operational initiatives focused on
increasing revenue, reducing costs and improving efficiencies
throughout the organization and subsequently retained SSG to
evaluate strategic alternatives.

SSG conducted a comprehensive marketing process which resulted in a
wide range of interest from potential strategic and financial
parties.  The process resulted in eight qualified bids for the
assets in whole and/or in part.  To best maximize value, SSG and
Coyne's professionals selected four buyers to form a combined bid
for substantially all of Coyne's assets.  Cintas Corporation
purchased the routes and certain other assets associated with the
Company's Bristol, TN; Buffalo, NY; Cleveland, OH; London, KY;
Syracuse, NY and York, PA locations.  Clean Rentals, Inc.,
purchased the routes of the Company's New Bedford, MA location.
Prudential Overall Supply, Inc., purchased the routes and real
estate of the Company's Richmond, VA location in addition to the
routes of the Greenville, SC location.  Pendera Holdings, LLC
purchased the real estate of the Buffalo, NY location. SSG's
experience in identifying buyers and running a thorough sale
process created a competitive auction environment and yielded final
bids in excess of the stalking horse bids.  The value created by
the auction maximized recovery for key stakeholders.

Other professionals who worked on the transaction include:

    * Mark Samson, CEO, Coyne International Enterprises Corp.;
    * Bill Henrich of Getzler, Henrich & Associates, LLC, Chairman
of the Board;
    * Stephen B. Selbst, Robert L. Rattet, Joel Wagman, Hanh Huynh
and Vivian Wang of Herrick
      Feinstein, LLP, counsel to Coyne
      International Enterprises Corp.;
    * Bernard A. Katz and Joseph C. Baum of CohnReznick, LLP,
financial advisors to Coyne
      International Enterprises Corp.;
    * Randall L. Klein and Prisca Kim of Goldberg, Kohn, Bell,
Black, Rosenbloom & Moritz Ltd.,
      counsel to NXT Capital, LLC;
    * Paul Andrews and Vladimir Kasparov of Andrews Advisory Group,
LLC, financial advisors to NXT
      Capital, LLC;
    * Thomas R. Califano and Harriet Lipkin of DLA Piper US, LLP,
counsel to Medley Capital
      Corporation;
    * Lee Woodard and Wendy Kinsella of Harris Beach PLLC,
Bankruptcy Examiner;
    * Jeffery A. Dove of Menter, Rudin & Trivelpiece, P.C. and
Ericka F. Johnson and Matthew P. Ward
      of Womble, Carlyle, Sandridge & Rice, LLP, counsel to the
Official Committee of Unsecured
      Creditors;
    * D. Brock Denton, Robert E. Coletti, Robert G. Sanker, Julie
Muething, Ross J. Bextermueller and
      Andrew J. Kaminski of Keating, Muething & Klekamp, PLL,
counsel to Cintas Corporation;
    * David A. Rosenzweig and Rebecca J. Winthrop of Norton Rose
Fulbright, LLP and John Tishbi of
      Pearlman & Tishbi, counsel to Prudential Overall Supply,
Inc.;
    * Paul Plourde of Plourde, Bogue, Moylan & Marino, LLP, counsel
to Clean Rentals, Inc.; and
    * Mark J. Schlant of Zdarsky, Sawicki & Agostinelli, LLP,
counsel to Pendera Holdings, LLC.

                 About SSG Capital Advisors, LLC

SSG Capital Advisors is an independent boutique investment bank
that assists middle-market companies and their stakeholders in
completing special situation transactions.  It provide its clients
with comprehensive investment banking services in the areas of
mergers and acquisitions, private placements, financial
restructurings, valuations, litigation and strategic advisory.  SSG
has a proven track record of closing over 300 transactions in North
America and Europe and is a leader in the industry.  SSG Capital
Advisors, LLC (Member FINRA, SIPC) is a wholly owned broker dealer
of SSG Holdings, LLC.  SSG is a registered trademark for SSG
Capital Advisors, LLC.  SSG provides investment banking,
restructuring advisory, merger, acquisition and divestiture
services, private placement services and valuation opinions.

                   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.


CTI BIOPHARMA: Approves Compensatory Arrangements of Officers
-------------------------------------------------------------
The Compensation Committee of the Board of Directors of CTI
BioPharma Corp. approved the following:

  * Grant of Stock Options.  The Company's grant of stock options
    on Dec. 23, 2015, under the Company's 2015 Equity Incentive
    Plan to each of the Company's executive officers to acquire
    the following number of shares of the Company's common stock:
    Dr. James A. Bianco (chief executive officer and president) -
    6,000,000 shares; Louis A. Bianco (executive vice president,
    finance and administration) - 1,600,000 shares; Dr. Jack W.
    Singer (executive vice president, chief scientific officer,
    interim chief medical officer and global head of Translational
    Medicine) - 1,900,000 shares; Dr. Matthew Plunkett (executive
    vice president, chief business officer) - 1,400,000 shares;
    and Bruce J. Seeley (executive vice president, chief     
    commercial officer) - 1,100,000 shares.  Each option has a per
    share exercise price equal to the closing price of the
    Company's common stock on the grant date and is scheduled to
    vest in semi-annual installments over a four-year period
    following the grant date.

  * Modification of LTIP Awards.  The Company has previously
    granted long-term incentive plan awards to each of the
    Company's executive officers identified above that would vest
    if certain performance goals established by the Committee are
    achieved by Dec. 31, 2016.  If a particular performance goal
    is timely achieved, the number of underlying shares subject to
    an LTIP Award that vest on attainment of the goal will be
    determined by multiplying (i) the award percentage for that
    award corresponding to that particular performance goal by
    (ii) the total number of outstanding shares of the Company's
    common stock as of the vesting date (determined on a non-fully
    diluted basis), subject to the applicable share limits of the
    Company's equity incentive plan then in effect.  For some
    executives, the LTIP Award consisted entirely of performance-
    based restricted stock units, while for other executives, a
    portion of the award consisted of performance-based restricted

    stock (with the number of shares retained by the executive if
    the goal is achieved being subject to adjustment to the extent

    the number of shares determined under the formula above is
    different from the number of restricted shares held by the
    executive that relate to the particular performance goal).

    Under the revised program, each of the LTIP Awards have been
    modified so that as to any particular performance goal that is
    achieved after Dec. 23, 2015, and on or before Dec. 31, 2016,
    the executive will be granted a stock option with respect to
    the number of shares determined under the formula described
    above (as opposed to receiving or retaining such number of
    fully-vested shares).  Each option will have an exercise price
    equal to the closing price of the Company's common stock on
    the grant date (which will be the date the Committee certifies
    the performance goal is achieved) and will be scheduled to
    vest in semi-annual installments over a three-year period
    following the grant date.  To the extent the executives have
    been issued any restricted shares pursuant to their LTIP
    Awards as described above that have not yet vested, they have
    agreed to forfeit those shares to the Company.

    In addition, the LTIP Awards have been modified so that
    provisions for accelerated vesting of the award in connection
    with a termination of the executive's employment or a change
    in control of the Company will apply only to the portion of
    the award that relates to the Company's obtaining approval of
    a new drug application or a marketing authorization
    application for pacritinib and not to any of the other
    performance goals for the award.

  * Base Salary Increase and Elimination of Executive Perquisites.

    The Committee also approved an increase in Dr. Bianco's annual
    base salary from $650,000 to $750,000 and the elimination of
    most perquisites provided to the Company's executives, in each

    case effective Jan. 1, 2016, and approved amendments to Dr.
    Bianco's employment agreement with the Company to reflect
    these changes.  The Company will continue to pay reasonable
    and necessary costs to maintain executives' medical licenses
    and to provide certain life and disability insurance benefits
    to Dr. Bianco pursuant to his employment agreement.

                       About CTI BioPharma

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

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

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


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

     Debtor                                      Case No.
     ------                                      --------
     DF Servicing, LLC                           15-10253
     PO Box 363685
     San Juan, PR 00936

     DF Tier I, LLC                              15-10256
     PO Box 363685
     San Juan, PR 00936

     DF Investments, LLC                        15-10254

     DF Holdings LLC                            15-10255

Type of Business: Purchase and Sale of Construction Projects

Chapter 11 Petition Date: December 24, 2015

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

Debtors' Counsel: Charles Alfred Cuprill, Esq.
                  CHARLES A CUPRILL, PSC LAW OFFICE
                  356 Calle Fortaleza, Second Floor
                  San Juan, PR 00901
                  Tel: 787 977-0515
                  Email: ccuprill@cuprill.com

                                          Total        Total
                                         Assets     Liabilities
                                       ----------   ------------
DF Tier I LLC                              $0         $99.94MM
DF Servicing LLC                           $0        $159.79MM


The petition was signed by Mark Mashburn, president.

List of DF Tier I LLC's Four Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Bautista Cayman Asset Company           Loan          $74,533,449
345 California Street
Suite 3300
San Francisco, CA 94104

Bautista Cayman Asset Company           Loan          $16,126,888
345 California Street
Suite 3300
San Francisco, CA 94104

Bautista Cayman Asset Company           Loan           $9,288,626
345 California Street
Suite 3300
San Francisco, CA
94104

List of DF Servicing's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Amado Santini                      Defects Claim          $1,655

ASOC Residentes Terra                  Fees              $33,033
Senorial Inc.

Autoridad De Acueductos Y           Water and             $3,088
Alcantarillado                    Sewer Services
PO Box 70101
San Juan, PR
00936-8101

Bautista Cayman Asset Company         Loans           $9,288,626
345 California Street
Suite 3300
San Francisco, CA 94104

Bautista Cayman Asset Company         Loans          $74,533,449
345 California Street
Suite 3300
San Francisco, CA 94104

Bautista Cayman Asset Company         Loans          $16,126,888
345 California Street
Suite 3300
San Francisco, CA 94104

Capital Title Services Inc.          Services             $2,905
33 Resolucion Street, Suite 302
San Juan, PR
00920-2727

Costa Bonita Beach Resort Inc.      Counterclaim      $9,500,000
PO Box 1788
Sabana Seca, PR
00952

Elizabeth Ortiz Irizarry            Defects Claim         $7,450

Hillview Condominium Corp.          Defects Claim    $24,020,000
Cupey Professional
Mal Bldg
359 San Claudio Avenue
San Juan, PR 00926

Miriam Soto Santiago                Defects Claim         $2,830

Municipality of Ponce                  Services          $84,000

New Garden Design Inc.               Landscaping         $11,075

O Neill & Borges                    Legal Services       $11,065

Plaza 844 Inc.                       Defects Claim   $26,000,000
PO Box 323138
Winston Churcill
San Juan, PR
00926-6023

PR Electric Power                      Services          $68,685

Terra Senorial Inc.                    Business          $48,126

Thyssenkrupp Elevator                Maintenance          $5,904

US Security Associates Inc.            Services          $28,802

US Security Associates Inc.            Services           $3,764


DF SERVICING: Hires Carrasquillo as Financial Consultant
--------------------------------------------------------
DF Servicing, LLC, seeks permission from the Bankruptcy Court to
appoint CPA Luis R. Carrasquillo & Co, P.S.C. as financial
consultant to assist it in the management of financial
restructuring of its affairs by providing advice in strategic
planning and the preparation of the Debtor's plan of
reorganization, disclosure statement and business plan, and
participating in the Debtor's negotiations with its creditors.

The Debtor has retained Carrasquillo on the basis of a $10,000
advance retainer, against which Carrrasquillo will bill as per its
hourly billing rates:


       Professional             Position            Rate
       ------------             --------         ----------
CPA Luis R. Carrasquillo         Partner            $175
CPA Marcelo Gutierrez          Senior CPA           $125
Other CPA's                                       $90-$125
Lionel RodrĂ­guez Perez       Senior Accountant      $90
Carmen Callejas Echevarria   Senior Accountant      $85
Alfredo J. Segarra           Senior Accountant      $80
Janet Marrero                  Administrative       $45
                                 and Support
Iris L. Franqui                Administrative       $45
                                 and Support

Carrasquillo represented that it is a disinterested person as
defined in Section 101(14) of the Bankruptcy Code.

Carrasquillo disclosed that it has no prior connections with the
Debtor, its officers, directors and insiders, any other creditor,
or other party-in-interest, the United States Trustee or any person
employed in the office of the United States Trustee, except that it
acted as financial consultant in the case of Costa Bonita Beach
Resort, Inc., a counter-claimant in this case.

                        About DF Servicing

Engaged in the business of purchase and sale of construction
projects, DF Servicing, LLC, DF Tier I, LLC, DF Investments, LLC
and DF Holdings LLC filed Chapter 11 bankruptcy petitions (Bankr.
D.P.R. Case Nos. 15-10253 to 15-10256) on Dec. 24, 2015.  The
petitions were signed by Mark Mashburn, the president.  Charles A
Cuprill, PSC Law Office, serves as counsel to the Debtors.


DF SERVICING: Seeks to Employ Cuprill as Legal Counsel
------------------------------------------------------
DF Servicing, LLC, is asking permission from the Bankruptcy Court
to employ Charles A. Cuprill, P.S.C., Law Offices, as its legal
counsel.

The Debtor has retained Cuprill on the basis of a $60,000 retainer
against which the law firm will bill on the basiss of $350 per hour
for work performed or to be performed by Charles A.
Cuprill-Hernandez, Esq.; $250 per hour for any associate and $85
for paralegals.

To the best of the Debtor's knowledge, Cuprill is a disinterested
entity as defined in Section 101(14) of the Bankruptcy Code.

With the exception that Cuprill acted as counsel for Costa Bonita
Beach Resort, Inc., a counterclaimaint in this case, neither
Cuprill nor its members have other prior connections with the
Debtor or any insidier, any creditor, or other party-in-interest,
their respective attorneys and accountants, the United States
Trustee or any person employed in the office of the United States
Trustee.

                        About DF Servicing

Engaged in the business of purchase and sale of construction
projects, DF Servicing, LLC, DF Tier I, LLC, DF Investments, LLC
and DF Holdings LLC filed Chapter 11 bankruptcy petitions (Bankr.
D.P.R. Case Nos. 15-10253 to 15-10256) on Dec. 24, 2015.  The
petitions were signed by Mark Mashburn, the president.  Charles A
Cuprill, PSC Law Office, serves as counsel to the Debtors.  CPA
Luis R. Carrasquillo & Co, P.S.C., is the financial consultant.


DISH NETWORK: Moody's Affirms Ba3 Corporate Family Rating
---------------------------------------------------------
Moody's Investors Service affirmed DISH Network Corporation's
("DISH") wholly owned subsidiary, DISH DBS Corporation's ("DISH
DBS") Ba3 corporate family rating (CFR), and Ba2-PD probability of
default rating (PDR). Moody's has changed DISH DBS' speculative
grade liquidity rating (SGL) to SGL-3 from SGL-1. Moody's has also
changed DISH's outlook to stable from negative. The stable rating
outlook reflects the unlikelihood that the company will increase
debt leverage over the near to intermediate-term, and an
expectation that DISH's core video business is relatively stable
over the near-term. We expect DISH to be able to sustain its rating
despite the potential for more debt financed spectrum investment
outside of DISH DBS; however, the structure of any such debt
issuance and expected source of debt service will dictate the
impact on the credit ratings. Although DISH will likely continue in
its pursuit of a nationwide wireless broadband strategy, we believe
the credit metrics will not be impacted in the next 12-18 months
from any related actions. The change in the company's SGL is driven
by the sharp reduction in cash resulting from the AWS auction and
fine levied by the FCC for the give back of some of its spectrum
won in that auction, and the $1.5 billion maturity in February
2016. Moody's believes that the maturity will either utilize most
of DISH DBS's and Dish Network's liquidity resources (cash and
derivative investments) to repay it in full, unless the company
accesses the debt markets to refinance some or all of it.

Affirmations:

Issuer: Dish Network Corporation

Corporate Family Rating, Affirmed Ba3

Probability of Default Rating, Affirmed Ba2-PD

Lowered:

Issuer: Dish Network Corporation

Speculative Grade Liquidity Rating, Lowered to SGL-3 from SGL-1

Outlook Actions:

Issuer: Dish Network Corporation

Outlook, Changed To Stable From Negative

Affirmations:

Issuer: Dish DBS Corporation

Senior Unsecured Regular Bond/Debenture, Affirmed Ba3 (LGD4)

Gtd Senior Unsecured Regular Bond/Debenture, Affirmed Ba3 (LGD4)

Outlook Actions:

Issuer: Dish DBS Corporation

Outlook, Changed To Stable From Negative

RATING RATIONALE

DISH DBS's Ba3 Corporate Family Rating ("CFR") reflects high gross
debt-to-EBITDA leverage of 4.3x as of 9/30/2015 (incorporating
Moody's standard adjustments), resulting from an increase in the
company's debt level, which has more than doubled since 2010.
Notably, leverage is slightly higher at the parent company and DISH
DBS is its primary source of cash flows to service expenses and
investments. The rating continues to reflect our concern that
competition from cable and telecommunication companies, who offer
multiple products (video, voice, and data), will pressure margins
and cash flow generation as the costs to grow and retain
subscribers will continue to escalate. The ratings continue to be
supported by DISH's sizeable subscriber base and continued rollout
of technologically advanced products that have been embraced by
consumers, such as the Hopper and Joey set top boxes and its
over-the-top service, Sling TV.

The company's parent has been beefing up its wireless spectrum base
aiming to strengthen its wireless broadband potential capacity in
order to enter the wireless space and withstand market saturation.
In 2014, DISH made a significant investment to purchase certain H
Block wireless spectrum licenses and earlier this year, DISH,
through its bidding partners in which it owns an interest, acquired
AWS-3 licenses worth approximately $11 billion (net of a 25%
bidding credit). In August, the company confirmed that the FCC
denied the $3.3 billion bidding discount to DISH's two affiliates
that won the AWS-3 licenses in January 2015. Dish has elected to
appeal this court order and withhold payment-in-full, allowing the
FCC to retain the AWS-3 licenses. Dish has made interim payments to
the FCC as to not be considered a defaulter and as such remains
eligible to participate in a re-auction of the assets. In the event
that the winning price at re-auction is less than the bid provided
by the affiliates of DISH, DISH will be required to pay the
difference of the two bids. While this event would be financially
unfavorable, DISH was able to put itself in a position to mitigate
its losses on this transaction.

Ongoing uncertainty surrounding financing of potential costs
associated with AWS-3 license discounts and event risks from the
company's future strategies to deploy wireless spectrum amassed
over the years, together weigh heavily on the credit profile.
Moody's cautions that the company's ratings could come under
pressure if the financial impact from these events is unfavorable
for DISH DBS's bondholders and leads to a deterioration in its
balance sheet. Moody's remains concerned over the legal credit
structure supporting DISH DBS bonds, which possess only minimal
protections against leverage and up-streaming cash to its parent,
DISH. Further, the company's creditors have no recourse to assets
held outside of DISH DBS.

The rating also considers the company's controlling shareholder
structure. The controlling shareholder and Chairman, Charles Ergen,
has until recently, maintained a conservative balance sheet, but
has demonstrated the willingness to be highly acquisitive. In
addition, lack of transparency on fiscal policies and financial
guidance from the company's management, and flexible indenture
covenants also moderately constrain the CFR.

DISH may be downgraded if it engages in acquisitions and
investments such that leverage is sustained over 5.5x. However,
DISH could also be downgraded if leverage is sustained over 4.5x
and we expect it to up-stream its cash to fund a high risk business
that doesn't generate free cash flow and to which DISH's creditors
have no recourse. In addition, material subscriber losses, multiple
satellite failures that cannot be mitigated with backup
transponders or capacity constraints that affect the company's
ability to provide a competitive service could also have negative
rating implications.

Upward rating movement could occur should DISH's leverage be
sustained below 4.0x. Additionally, for an upgrade to occur, there
would need to be increased transparency into the company's next
strategic steps with regard to its wireless strategy, how it plans
to use its cash balance, and if its creditors have recourse to its
current and future wireless assets.

DISH is the third largest pay television provider in the United
States, operating satellite services with approximately 13.9
million subscribers as of Sept. 30, 2015.



DORAL FINANCIAL: Creditors Say $889 Million PR Tax Deal Is Valid
----------------------------------------------------------------
Hannah Sheehan at Bankruptcy Law360 reported that bankrupt Doral
Financial Corp. and its creditors sued Puerto Rico's Treasury
secretary on Dec. 17, 2015, seeking a declaration that an
$889 million tax agreement between the company and the commonwealth
from 2006 is valid after an appellate court struck down a similar
deal from 2012.

In an adversary complaint filed as part of Puerto Rico-based
Doral's ongoing bankruptcy proceeding, the company and its
creditors asked the court to determine that it is entitled to the
$889 million tax credit under a 2006 closing agreement.

                      About Doral Financial

Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank.  DFC maintains offices
in New York City, Coral Gables, Florida and San Juan, Puerto Rico.
DFC has three wholly-owned subsidiaries: (i) Doral Properties,
Inc., (ii) Doral Insurance Agency, LLC ("Doral Insurance"), and
(iii) Doral Recovery, Inc.

On Feb. 27, 2015, regulators placed Doral Bank into receivership
and named the Federal Deposit  Insurance Corp. as receiver.  Doral
Bank served customers through 26 branches located in New York,
Florida, and Puerto Rico.

DFC sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
15-10573) in Manhattan on March 11, 2015.  The case is assigned to
Judge Shelley C. Chapman.

DFC estimated $50 million to $100 million in assets and $100
million to $500 million in debt as of the bankruptcy filing.

The Debtor tapped Ropes & Gray LLP as counsel.

The U.S. trustee overseeing the Chapter 11 case of Doral Financial
Corp. appointed five creditors of the company to serve on the
official committee of unsecured creditors.  The Committee is
represented by Brian D. Pfeiffer, Esq., and Taejin Kim, Esq., at
Schulte Roth & Zabel LLP.

On Nov. 25, 2015, Doral Properties filed a voluntary petition with
the Court for relief under Chapter 11 of the Bankruptcy Code.


ELEPHANT TALK: Gets $768,700 From Units Offering
------------------------------------------------
Elephant Talk Communications Corp. consummated an initial closing
of its private placement offering of Units to "accredited
investors".  The Initial Closing is part of a "best efforts"
private placement offering of up to $4,200,000 consisting of up to
140 units, each Unit consisting of: (i) one 9% unsecured
subordinated convertible promissory note in the principal amount of
$30,000, which is convertible into shares of Common Stock of the
Company, $.00001 par value, at the option of the holder at a
conversion price of $.30 per share, subject to certain exceptions;
and (ii) a five-year warrant to purchase 100,000 shares of Common
Stock at an exercise price of $.45 per share, subject to certain
exceptions.

The Units were offered and sold pursuant to an exemption from
registration under Section 4(2) and Regulation D of the Securities
Act.  At the Initial Closing, the Company sold an aggregate of
$920,000 principal amount of Notes and delivered Warrants to
purchase an aggregate of 3,166,666 shares of Common Stock.

The Warrants entitle the holders to purchase shares of Common Stock
reserved for issuance thereunder for a period of five years from
the date of issuance and contain certain anti-dilution rights on
terms specified in the Warrants.  The Note Shares and Warrant
Shares will be subject to full ratchet anti-dilution protection for
the first 24 months following the issuance date and weighted
average anti-dilution protection for the 12 months period after the
first 24 months following the issuance date.

The Company is obligated to file a registration statement
registering the Note Shares and Warrant Shares within 45 days of
the final closing of the Offering.

In connection with the Private Placement Offering, the Company
retained a registered FINRA broker dealer to act as the placement
agent.  For acting as the placement agent, the Company agreed to
pay the Placement Agent, subject to certain exceptions: (i) a cash
fee equal to seven percent (7%) of the aggregate gross proceeds
raised by the Placement Agent in the Offering, (ii) a
non-accountable expense allowance of up to one percent (1%) of the
aggregate gross proceeds raised by the Placement Agent in the
Offering, and (iii) at the final Closing one five-year warrant to
purchase such number of shares equal to 7% of the shares underlying
the Notes sold in this Offering at an exercise price of $.30 and
one five-year warrant to purchase such number of shares equal to 7%
of the shares underlying the Warrants sold in this Offering at an
exercise price of $.45.

At the Initial Closing, the Company received net proceeds of
$768,700 after payment of commission of $73,600 to the Placement
Agent and expenses of $77,700.  The Company intends to use the net
proceeds from the Offering primarily for working capital.

                       About Elephant Talk

Lutz, Fla.-based Elephant Talk Communications, Inc. (OTC BB: ETAK)
-- http://www.elephanttalk.com/-- is an international provider of
business software and services to the telecommunications and
financial services industry.

Elephant Talk reported a net loss of $21.9 million in 2014, a net
loss of $25.5 million in 2013 and a net loss of $23.1 million in
2012.

As of Sept. 30, 2015, the Company had $30.7 million in total
assets, $14.3 million in total liabilities and $16.4 million in
total stockholders' equity.


EMPIRE RESORTS: To Effect 1-for-5 Reverse Stock Split
-----------------------------------------------------
Empire Resorts, Inc., filed a Certificate of Amendment to the
Company's Amended and Restated Certificate of Incorporation with
the Secretary of State of the State of Delaware to effect a 1-for-5
reverse stock split of all outstanding shares of common stock of
the Company, par value $.01 per share, effective as of 12:01 a.m.
on Dec. 23, 2015.

The filing of the Certificate of Amendment was made pursuant to the
authorization provided by the stockholders of the Company by
written consent on Oct. 5, 2015, which authorized the Board of
Directors of the Company to effect a reverse stock split of all
outstanding shares of Common Stock at a specific ratio within a
range from 1-for-2 to 1-for-5 at any time before Dec. 31, 2016. The
1-for-5 reverse stock split ratio was subsequently determined at a
meeting of the Company's Board of Directors on Dec. 7, 2015.

As a result of the reverse stock split, each five shares of
outstanding common stock will be combined into one new share, with
no change in authorized shares or par value per share.  The number
of outstanding shares of Common Stock will be reduced from
approximately 47.792 million to approximately 9.550 million.
Proportional adjustments also will be made to the exercise prices
of the Company's outstanding warrants and stock options, and to the
number of shares issued and issuable under the Company's stock
incentive plans.  The reverse stock split will not affect any
stockholder's ownership percentage of Common Stock, except to the
limited extent that the reverse stock split would result in any
stockholder owning a fractional share.  The Company will not issue
fractional certificates for post-reverse stock split shares in
connection with the reverse stock split; rather, the Company will
issue an additional share to all holders of fractional shares.

The Company's trading symbol of "NYNY" will not change as a result
of the reverse stock split.  The Common Stock will trade under a
new CUSIP number 292052305 effective as of Dec. 23, 2015.

                       About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- owns and operates Monticello
Casino & Raceway, a video gaming machine and harness racing track
and casino located in Monticello, New York, 90 miles northwest of
New York City.

Empire Resorts reported a net loss applicable to common shares of
$24.1 million on $65.2 million of net revenues for the year ended
Dec. 31, 2014, compared to a net loss applicable to common shares
of $27.05 million on $70.96 million of net revenues in 2013.

As of Sept. 30, 2015, the Company had $73.4 million in total
assets, $63.4 million in total liabilities and $10 million in total
stockholders' equity.


ENERGY FUTURE: Bid to Sell Oncor Minority Stake Kept Alive
----------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge on Dec. 18, 2015, kept alive Energy Future
Holdings Corp.'s bid to force the minority stakeholder in
non-debtor Oncor Electric Delivery Co. LLC to give up its stake in
the electric delivery business, a deal for which is at the center
of its confirmed Chapter 11 plan.

During a hearing in Wilmington, U.S. Bankruptcy Judge Christopher
S. Sontchi ruled that the contract EFH claims Oncor minority owner
Texas Transmission Investment is breaching, by not agreeing to go
along with a sale.

                        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.


EQUA MANAGEMENT: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Equa Management, Inc.
        Carr. #1, KM. 32.7
        Bo. Bairoa
        Caguas, PR 00725

Case No.: 15-10189

Chapter 11 Petition Date: December 23, 2015

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

Judge: Hon. Mildred Caban Flores

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

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by William Casteline, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb15-10189.pdf


FANNIE MAE & FREDDIE MAC: Updated Conservatorship Litigation Chart
------------------------------------------------------------------
At http://bankrupt.com/gselitigationsummary201512.pdfeditors of
the Troubled Company Reporter and Class Action Reporter have posted
a chart, updated on Dec. 24, 2015, organizing information about the
27 lawsuits complaining about how the Department of the Treasury
and the Federal Housing Finance Administration are handling Fannie
Mae and Freddie Mac's conservatorship proceedings.  Unaltered, this
chart may be freely shared with anyone for any purpose,
notwithstanding that it is copyrighted by Bankruptcy Creditors'
Service, Inc., and Beard Group, Inc., and all rights are reserved
by the publishers.  For additional information, contact Peter A.
Chapman at peter@beard.com by e-mail or (215) 945-7000 by
telephone.

Last week, FHFA and Treasury filed their Briefs in Perry v. Lew,
No. 14-5243 (D.C. Cir.), arguing that the appellate tribunal should
uphold Judge Lamberth's dismissal of lawsuits filed in the U.S.
District Court for the District of Columbia.  Reply briefs are to
be filed in the D.C. Circuit by Feb. 2, 2016, and final briefs are
to be filed in the D.C. Circuit by Mar. 8, 2016.  

The plaintiffs in Saxton v. FHFA, Case No. 15-cv-00047 (N.D. Iowa),
and Robinson v. FHFA, Case No. 15-109 (E.D. Ky.), have moved to
amend their complaints to incorporate confidential discovery
materials obtained by plaintiffs in Fairholme Funds v. U.S., Case
No. 13-465 (Ct. Fed. Cl.).  Those amended complaints are under seal
because they make reference to materials that are subject to a
protective order entered in the Court of Federal Claims.  

Investors Unite has requested permission to file an amicus brief in
Saxton v. FHFA.  Investors Unite, represented by Michael H.
Krimminger, Esq. -- mkrimminger@cgsh.com -- at Cleary Gottlieb
Steen & Hamilton LLP, explains that HERA, the statute governing the
GSEs' conservatorship proceedings that he helped author, was
modeled on FDIC legislation.  Mr. Krimminger argues that the Third
Amendment implemented in 2012 is wholly inconsistent with more than
1,000 bank and thrift resolutions and the Net Worth Sweep does not
reflect what was intended when HERA was drafted.

Jurisdictional discovery was scheduled to be completed in Fairholme
v. U.S. by Dec. 31, 2015.  But Fairholme filed a motion to compel
the government to produce certain documents withheld based on
privilege claims, and the government doesn't being able to respond
to that motion until Jan. 21, 2016, so jurisdictional discovery
will continue into 2016.  

The plaintiffs in Jacobs v. FHFA, Case No. 15-708 (D. Del.), are
scheduled to file their response to FHFA and Treasury's motions to
dismiss on Jan. 16, 2016.  

In all of the lawsuits challenging the Third Amendment and Net
Worth Sweep, the government principally argue that GSE shareholders
are barred from complaining about anything FHFA does in its role as
the GSEs' conservator and the Judicial Branch is prohibited from
doing anything that would restrain the conservator from doing what
it thinks is best.  


FILMED ENTERTAINMENT: To Relaunch Vinyl Album Subscription Service
------------------------------------------------------------------
Marie Lodi at Jezebel.com reports that Columbia House is
relaunching its mail order business, offering vinyl records instead
of tapes and CDs.

According to Jezebel.com, the Company is capitalizing on the trend
and will return to one of the very first products they sold, but
will most likely not offer its famous old-school pricing.  Citing
the Recording Industry Association of America, Jezebel.com relates
that vinyl album sales increased 52% in the first half of this
year.

                    About Filmed Entertainment

Filmed Entertainment Inc. owns and operates the "Columbia House
DVD Club," a direct-to-customer distributor of movies and
television series in the United States.  FEI conducts its business
through physical catalogues and through the --
http://www.columbiahouse.com/Web site.  FEI was historically      
active in the musical compact disc business, but exited the music
business in 2010.  Founded in 1955 as a division of CBS Inc. to
sell vinyl records and cassette tapes, FEI is a unit of Pride Tree
Holdings, Inc., which acquired FEI in December 2012.

On Aug. 10, 2015 FEI filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y.
Case No. 15-12244) in Manhattan, New York.  The case is pending
before the Honorable Shelley C. Chapman.

The Debtor tapped Griffin Hamersky P.C. as counsel, and Prime
Clerk LLC as claims and noticing agent.

The Debtor estimated assets of $1 million to $10 million and debt
of $50 million to $100 million.

The U.S. Trustee for Region 2 appointed five creditors of Filmed
Entertainment Inc. to serve on the official committee of unsecured
creditors.


FOUR OAKS: Ayden Lee Resigns as Executive Chairman
--------------------------------------------------
Ayden R. Lee, Jr., executive chairman of Four Oaks Fincorp, Inc.
and its wholly-owned subsidiary Four Oaks Bank & Trust Company,
notified the Company of his intention to resign from his positions
with the Company and the Bank, effective Dec. 31, 2015.

Mr. Lee will continue to serve as Chairman and a member of the
Boards of Directors of the Company and the Bank.  In addition to
the amounts owed to Mr. Lee under his executive employment
agreement with the Bank, the Board of Directors of the Company also
approved certain benefits for Mr. Lee in connection with his
resignation in recognition of his many years of dedicated service
to the Company and the Bank, including, among other things, that
Mr. Lee may keep the automobile that the Bank currently provides to
him and that the Bank will reimburse him for certain expenses
related to the automobile for the 12-month period immediately
following the Effective Date.  The Board of Directors of the
Company also approved a change to the director compensation policy
such that Mr. Lee, as Chairman of the Board of Directors, will
receive monthly and per meeting fees equivalent to that of the Lead
Independent Director.

                          About Four Oaks

Four Oaks Fincorp, Inc., through its wholly-owned subsidiary, Four
Oaks Bank & Trust Company, offers a broad range of financial
services through its sixteen offices in Four Oaks, Clayton,
Smithfield, Garner, Benson, Fuquay-Varina, Wallace, Holly Springs,
Harrells, Zebulon, Dunn, Raleigh (LPO), Apex (LPO) and Southern
Pines (LPO), North Carolina.  Four Oaks Fincorp, Inc. trades
through its market makers under the symbol of FOFN.

Four Oaks Fincorp reported a net loss of $4.18 million in 2014, a
net loss of $350,000 in 2013, a net loss of $6.96 million in 2012
and a net loss of $9.09 million in 2011.

As of Sept. 30, 2015, the Company had $714.50 million in total
assets, $654.28 million in total liabilities and $60.21 million in
total shareholders' equity.


FPL ENERGY: S&P Affirms B- Rating on $100MM Sec. Notes, Outlook Neg
-------------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B-'
issue-level rating on project finance entity FPL Energy National
Wind Portfolio LLC's (National Wind Portfolio) $100 million senior
secured notes due 2019.  At the same time, S&P revised the outlook
to negative from stable.

The recovery rating on National Wind Portfolio's senior secured
bonds is '2', indicating S&P's expectation of a substantial (70% to
90%) recovery in a default scenario.  S&P's recovery expectations
are in the higher end of the 70% to 90% range.

"The negative outlook on National Wind Portfolio reflects our view
of the uncertainty in timing of when wind speeds will return to
historical averages," said Standard & Poor's credit analyst Trevor
D'Olier-Lees.

S&P's rating action stems from the significant drop in wind
resource at National Wind and the uncertainty of when wind speeds
will return to historical averages.  National Wind Portfolio repays
debt from distributions it receives from National Wind, which
generates cash flow from a portfolio of eight U.S. wind projects
totaling 389.6 megawatts (MW).

This year, wind speeds were significantly reduced due to the
persistent El Nino conditions that have affected many parts of the
U.S.  This wind phenomenon is currently considered to be a 1-in-39
year occurrence by industry experts.  Through year-end 2015, S&P
expects a debt service coverage ratio (DSCR) at National Wind to be
around 1.04x, driven by 10% slower wind speeds, lower availability
of about 90% (versus 96% expectation), and higher operating and
maintenance costs due to gearbox and generator repairs at two of
the sites and structural repairs at another site.  Because of lower
debt service coverage at National Wind, distributions were trapped
beginning in September 2015 and under S&P's base case financial
forecast it don't expect distributions to flow up to National Wind
Portfolio until September 2017.

S&P's current expectation is that the wind will return to
historical averages, and so its long-term base case forecast
remains unchanged from its last review.  However, if wind resources
in the first half of 2016 don't revert to more normal levels, S&P
could revise its generation assumptions for the project level,
which could result in a cash trap to prevail for longer than S&P is
assuming currently.



GIBSON BRANDS: Moody's Lowers CFR to B3, On Review for Downgrade
----------------------------------------------------------------
Moody's Investors Services downgraded Gibson Brands ratings
following the company's very weak quarterly results, pushing credit
metrics below Moody's expectation and putting stress on Gibson's
liquidity profile.  The ratings are on review for possible further
downgrade.

"The downgrade reflects Gibson's weak liquidity position and soft
credit metrics," said Kevin Cassidy, a Moody's Senior Credit
Officer.  The company has around $15 million available on its
revolving credit facilities.  The company has $75 million of cash,
but $30 million is trapped in Argentina.  The company also required
a waiver for the covenants in its European revolving credit
facility.

RATINGS RATIONALE

The rationale for the review for downgrade is the uncertainty about
the company's ability to improve its operating performance and
stabilize its liquidity position.  "We had expected debt/EBITDA,
excluding FX, to range between 5 times and 6 times, but it is now
over 9 times,"" said Cassidy.

Moody's rating review will focus on Gibson's plan to improve its
operating performance and strengthen its liquidity position.

Ratings downgraded and on review for possible further downgrade:

  Corporate Family Rating to B3 from B2:

  Probability of Default Rating to B3-PD from B2-PD

  $375 million senior secured 2nd lien notes due 2018, to
  Caa1 (LGD 4) from B3 (LGD 4)

The principal methodology used in this rating was the Consumer
Durables Industry published in September 2014.

Headquartered in Nashville, Tennessee, Gibson Brands Inc. designs,
manufactures, markets, and globally distributes premium musical
instruments, consumer and professional audio and video products,
information products, and related accessories.  The company's
product offerings are marketed under a portfolio of brands
including Gibson, Philips, Epiphone, Kramer, Baldwin, Onkyo, KRK,
and Stanton.  Revenues approximated $1.8 billion for the twelve
months ended September 30, 2015.



GOLDEN COUNTY FOODS: Court OKs Kurtzman Carson as Admin. Advisor
----------------------------------------------------------------
Plover Appetizer Co. fka Golden County Foods, Inc. and its
debtor-affiliates sought and obtained permission from the Hon.
Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware to employ Kurtzman Carson Consultants LLC as
administrative advisor.

The Debtors require Kurtzman Carson to:

   (a) assist with, among other things, solicitation, balloting
       and tabulation of votes, and prepare any related reports,
       as required in support of confirmation of a chapter 11
       plan, and in connection with such services, process
       requests for documents from parties in interest, including,

       if applicable, brokerage firms, bank back-offices and
       institutional holders;

   (b) prepare an official ballot certification and, if necessary,

       testify in support of the ballot tabulation results;

   (c) assist with the preparation of the Debtors' schedules of
       assets and liabilities and statements of financial affairs
       and gather data in conjunction therewith;

   (d) manage and coordinate any distributions pursuant to a
       chapter 11 plan;

   (e) preparing fee applications for Professional Services in
       accordance with any required procedures approved by the
       Court; and

   (f) provide such other processing, solicitation, balloting and
       other administrative services described in the Engagement
       Agreement, but not included in the scope of the Section
       156(c) Order, as may be requested from time to time by the
       Debtors, the Court or the Office of the Clerk of the
       Bankruptcy Court.

Kurtzman Carson will be paid at these hourly rates:

       Executive Vice President             Waived
       Director/Senior Managing Consultant  $175
       Consultant/Senior Consultant         $70-$160
       Project Specialist                   $50-$100
       Technology/Programming Consultant    $45-$85
       Clerical                             $25-$50

Kurtzman Carson will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Drake Foster, general counsel of Kurtzman Carson, 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.

Kurtzman Carson can be reached at:

       Drake D. Foster, Esq.
       KURTZMAN CARSON CONSULTANTS, LLC
       2335 Alaska Ave.
       El Segundo, CA 90245
       Tel: (310) 823-9000
       Fax: (310) 823-9133
       E-mail: dfoster@kccllc.com

                   About Golden County Foods

Golden County and its affiliates GCF Franchisee, Inc., and
GCF Holdings II, Inc., filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 15-11062 to 15-11064) on
May 15, 2015.

Mark D. Collins, Esq., and Tyler D. Semmelman, Esq., at
Richards, Layton & Finger, P.A., represent the Debtor in their
restructuring effort.  The Debtors also hired Neligan Foley LLP
as local counsel.

The Debtors estimated assets and debts at $10 million to
$50 million.

The U.S. Trustee for Region 3 appointed seven creditors to serve on
the Official Committee of Unsecured Creditors. The Committee
selected Lowenstein Sandler LLP and Gellert Scali Busenkell &
Brown, LLC, to serve as its co-counsel, and GlassRatner Advisory &
Capital Group to serve as its financial advisor.


GOODMAN NETWORKS: S&P Lowers CCR to 'CCC+' on Weak Performance
--------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Plano, Texas-based Goodman Networks Inc. to 'CCC+'
from 'B-'.  The outlook is negative.

At the same time, S&P lowered its issue-level rating on the
company's senior secured notes to 'CCC+' from 'B-'.  The recovery
rating remains '4', indicating S&P's expectation for average
(30%-50%; higher end of the range) recovery in the event of a
default.

"The ratings downgrade is based on Goodman's weak operating and
financial performance over the past nine months, and our view that
the company's capital structure may be unsustainable longer term,
leading to a potential restructuring or distressed debt exchange
over the next couple of years if the company does not substantially
improve its EBITDA from 2015 levels," said Standard & Poor's credit
analyst Scott Tan.

Although near-term liquidity should cover uses in 2016 and S&P
expects the company to improve its EBITDA in 2016 from 2015, absent
meaningful improvement in business performance, S&P believes the
company may be challenged to make its interest payments in future
years if financial results do not improve and, ultimately,
refinance its upcoming $325 million of senior secured notes due
2018.  Moreover, the company's adjusted leverage ratio is very
high, at over 20x as of Sept. 30, 2015, compared to S&P's previous
base-case forecast of 7x area for year-end 2015. Goodman's EBITDA
interest coverage ratio is also thin at less than 1x.  S&P expects
both adjusted leverage and EBITDA interest coverage ratios to
improve to around 8x and above 1x in 2016, respectively, as result
of EBITDA growth.

The outlook is negative and reflects S&P's expectation that there
is a greater risk of default over the next few years if business
conditions do not improve meaningfully in 2016.

S&P could lower the rating if Goodman's operating and financial
performance do not improve substantially in 2016, which would
pressure liquidity.  S&P could also lower the rating if financial
results do not improve and S&P believes the company would pursue a
restructuring or distressed debt exchange.

S&P could raise the rating if the company's operating performance
tracks ahead of S&P's expectation, resulting in improved liquidity
and the company is able to demonstrate a viable plan to refinance
its debt maturities.



GREEN AUTOMOTIVE: CFO Alan Bailey Resigns
-----------------------------------------
Alan J. Bailey resigned as chief financial officer of Green
Automotive Company on Nov. 2, 2015.  Mr. Bailey was appointed as
chief financial officer on Oct. 8, 2014.

                   About Green Automotive Company

Green Automotive Company is a vehicle design, engineering,
manufacturing and distribution company.  The Company also provides
after sales program.  It possesses a portfolio of businesses and
is active in three main market segments: Cutting edge technology
development, engineering and design with a focus on zero and low
emission vehicle solutions; Manufacturing and customization of
vehicles for markets with the potential to be converted into low
emission or electric vehicles, such as shuttle buses, taxis,
commercial vehicles, and After sales services for electric or low
emission vehicles, including servicing and repair.

The Company's balance sheet at June 30, 2014, showed $1.47 million
in total assets, $17.9 million in total liabilities, and a
stockholders' deficit of $16.5 million.

The Company has sustained recurring operating losses and past due
payables.  These conditions, among others, give rise to
substantial doubt about its ability to continue as a going
concern, according to the Company's Form 10-Q for the period ended
June 30, 2014.


GREEN AUTOMOTIVE: To Challenge Typenex Default Arbitration Award
----------------------------------------------------------------
Green Automotive disclosed that on Nov. 4, 2015, it became aware of
an arbitration award against it in the amount of $679,893 damages
and 22% interest in favor of Typenex Co-Investment, LLC, a creditor
of the Company.  The Company never received notice of the
arbitration proceedings because it had changed its address.  The
Company intends to challenge this default arbitration award for
lack of proper notice and negotiate a settlement with Typenex
Co-Investment, LLC.

                    About Green Automotive Company

Green Automotive Company is a vehicle design, engineering,
manufacturing and distribution company.  The Company also provides
after sales program.  It possesses a portfolio of businesses and
is active in three main market segments: Cutting edge technology
development, engineering and design with a focus on zero and low
emission vehicle solutions; Manufacturing and customization of
vehicles for markets with the potential to be converted into low
emission or electric vehicles, such as shuttle buses, taxis,
commercial vehicles, and After sales services for electric or low
emission vehicles, including servicing and repair.

The Company's balance sheet at June 30, 2014, showed $1.47 million
in total assets, $17.9 million in total liabilities, and a
stockholders' deficit of $16.5 million.

The Company has sustained recurring operating losses and past due
payables.  These conditions, among others, give rise to
substantial doubt about its ability to continue as a going
concern, according to the Company's Form 10-Q for the period ended
June 30, 2014.


ITUS CORP: Incurs $1.37 Million Net Loss in Fiscal 2015
-------------------------------------------------------
ITUS Corporation filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss of $1.37
million on $9.25 million of total revenue for the year ended Oct.
31, 2015, compared to a net loss of $9.60 million on $3.66 million
of total revenue for the year ended Oct. 31, 2014.

As of Oct. 31, 2015, the Company had $9.33 million in total assets,
$4.28 million in total liabilities and $5.05 million in total
shareholders' equity.

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

                      http://is.gd/ZUjd5H

                     About ITUS Corporation

ITUS Corp. -- http://www.ITUScorp.com/-- develops and acquires
patented technologies for the purposes of patent monetization and
patent assertion.  The company currently has 10 patent portfolios
in the areas of Key Based Web Conferencing Encryption, Encrypted
Cellular Communications, E-Paper(R) Electrophoretic Display, Nano
Field Emission Display ("nFED"), Micro Electro Mechanical Systems
Display ("MEMS"), Loyalty Conversion Systems, J-Channel Window
Frame Construction, VPN Multicast Communications, Internet
Telephonic Gateway, and Enhanced Auction Technologies.

CopyTele changed its name to "ITUS Corporation" on Sept. 2, 2014,
to reflect the Company's change in its business operations.

ITUS Corporation reported a net loss of $9.60 million on $3.66
million of total revenue for the year ended Oct. 31, 2014, compared
to a net loss of $10.08 million on $389,000 of total revenue for
the year ended Oct. 31, 2013.  The Company also reported a net loss
of $4.25 million for the year ended Oct. 31, 2012, and a net loss
of $7.37 million for the year ended Oct. 31, 2011.


KAP ENTERPRISES: Plan Complies with Bankruptcy Code Provisions
--------------------------------------------------------------
Judge Robert Summerhays of the United States Bankruptcy Court for
the Western District of Louisiana, Lafayette Division, entered
findings of fact and conclusions of law in connection with the
confirmation of the Plan of Reorganization of debtor K.A.P.
Enterprises, L.L.C.

A hearing was held on November 10, 2015, to consider the
confirmation of the plan dated April 2, 2013, as amended and
modified on September 2, 2015, and November 9, 2015.

Judge Summerhays found that the Debtor has complied with applicable
provisions of the Bankruptcy Code, except as otherwise provided or
permitted by orders of the court.  The judge also found that the
plan was proposed in good faith and not by means forbidden by law,
that the Debtor is capable of paying or otherwise performing the
obligations assumed under the plan, and that the plan is feasible.

The case is IN RE: K.A.P. ENTERPRISES, L.L.C. Chapter 11, DEBTOR,
Case No. 12-81464 (Bankr. W.D. La.).

A full-text copy of Judge Summerhays' December 14, 2015 findings of
fact and conclusions of law is available at http://is.gd/HyrgBX
from Leagle.com.

          Thomas R. Willson, Esq.
          P.O. Drawer 1630
          Alexandria, LA 71309-1630
          Tel: (318) 442-8658
          Fax: (318) 442-9637
          E-mail: rocky@rockywillsonlaw.com

Reymond Meadaa, Harry Hawthorne, Jose Mathew, Navtej Rangi, Dinesh
Shaw, Hulenci, LLC, and Naja Holdings, LLC are represented by:

          John S. Hodge, Esq.
          WIENER, WEISS & MADISON, A P.C.
          333 Texas St #2350
          Shreveport, LA 77101
          Tel: (318) 226-9100
          Fax: (318) 424-5128
          Email: jhodge@wwmlaw.com

Red River Bank is represented by:

          Stephen D. Wheelis, Esq.
          WHEELIS & ROZANSKI, APLC
          P.O. Box 13199
          2312 South MacArthur Drive
          Alexandria, LA 71315-3199
          Tel: (318) 445-5600
          Fax: (318) 445-5710
          Email: steve@wheelis-rozanski.com


KNAPP MEDICAL: S&P Lowers ICR to 'BB+', Outlook Stable
------------------------------------------------------
Standard & Poor's Ratings Services lowered its issuer credit rating
(ICR) on Knapp Medical Center, Texas to 'BB+' from 'BBB'. The
outlook is stable.

An ICR is a current opinion of an obligor's overall willingness and
capacity to meet its financial obligations that is not specific to
any particular debt instrument.

"Despite an improvement in operating income levels through the
first 10 months of fiscal 2015, based on unaudited data,
unrestricted reserves to long-term debt remains below levels
commensurate with the previous rating," said Standard & Poor's
credit analyst Patrick Zagar.  Standard & Poor's had a prior
expectation that Knapp's unrestricted liquidity would improve since
the last review; however, S&P's understanding of this transaction
was incorrect.  "The now persistent state of comparatively lower
unrestricted reserves, combined with an only adequate operating
margin in fiscal 2014 and the full incorporation of the 'U.S.
Not-For-Profit Acute-Care Stand-Alone Hospitals' criteria,
published on Dec. 15, 2014, resulted in the multi-notch downgrade,"
added Mr. Zagar.

The stable outlook reflects S&P's view of Knapp's positive track
record of maintaining profitability despite market challenges
inherent to the hospital's primary service area, namely a sizable
uninsured population.  In addition, S&P expects the hospital will
continue to leverage its membership within Prime Healthcare
Foundation.

While not expected, S&P could take a negative rating action in the
one-year outlook period should the hospital's utilization and
market share decline significantly, resulting in a material change
to Knapp's enterprise profile.  In addition, negative operating
margins and a weakened balance sheet could also result in a lower
rating.

In S&P's view, a higher rating is unlikely within the near-term due
to Knapp's soft volumes and constrained payor mix.  However, S&P
could raise the rating in the longer-term if the hospital can
sustain more robust operating margins and improve its overall
liquidity position, especially as it relates to contingent
liabilities.



LAS VEGAS SANDS: Moody's Lowers CFR to Ba1, Outlook Stable
----------------------------------------------------------
Moody's Investors Service upgraded Las Vegas Sands Corp. (LVSC)
Corporate Family Rating and Probability of Default Rating one-notch
to Ba1 and Ba1-PD, respectively.  The rating on the company's Las
Vegas subsidiary credit facility was also upgraded one-notch to
Ba1.  LVSC's SGL-1 Speculative Grade Liquidity rating did not
change indicating very good liquidity.  The rating outlook is
stable.

Las Vegas Sands Corp. ratings upgraded:

  Corporate Family Rating, to Ba1 from Ba2
  Probability of Default Rating, to Ba1-PD from Ba2-PD

Las Vegas Sands, LLC ratings upgraded:

  $1.25 billion senior secured revolver due 2018, to Ba1 (LGD4)
   from Ba2 (LGD4)
  $2.25 billion senior secured term loan B due 2020, to Ba1 (LGD4)

   from Ba2 (LGD4)

"The upgrade considers Moody's view that LVSC's assets in Singapore
and the US will provide the company with the ability to maintain
its very strong credit and liquidity profile despite the
expectation of continued weakness and increased competition in
Macau, a considerable amount of planned capital expenditures, and a
large amount of regular cash dividend payments," stated Keith
Foley, a Senior Vice President at Moody's.

Going forward, Moody's expects debt/EBITDA will remain at/below 3.0
times.  This incorporates Moody's assumption of about $2.5 billion
of capital spending in fiscal 2016 and 2017 combined, a significant
portion of which is related to the company's Parisian Macau
development.  It also assumes LVSC will continue to pay regular
cash dividends in next two years combined of somewhere near $5
billion, and still end up with about $1 billion of consolidated
cash on its balance sheet by the end of 2017.

The upgrade also considers Moody's view that, given the very strong
outlook for LVSC's financial profile, any outcome related to
ongoing litigation, should it occur at some point, will not
materially impair the company's financial profile.  Ongoing
litigation has been a limiting factor with respect to ratings
improvement in the past.

RATING RATIONALE

LVSC's Ba1 Corporate Family Rating reflects the company's strong
consolidated performance, very strong credit metrics, and the
quality, popularity, and favorable reputation of all its casino
properties -- a factor that continues to distinguish the company
from most other gaming operators.  Also considered is the fact that
LVSC owns and operates Marina Bay Sands, which is one of only two
casino resorts authorized to operate in Singapore, and has
property-level EBITDA margins in excess of 50%.

Key credit concerns include Moody's expectation that LVSC will
pursue further and significant global casino resort development
opportunities that will likely be funded largely with debt.
Additionally, Moody's expects that LVSC will continue to return
large amounts in capital to shareholders in the form of dividends
and share repurchases.

LVSC's ratings reflect a consolidated rating approach, whereby we
view all of the operations of LVSC as a single enterprise for
analytic purposes, regardless of whether or not financings for
subsidiaries are done on a stand-alone basis.  The Ba1 rating on
LVSC's US subsidiary's credit facility considers its senior secured
status along with the fact that senior secured debt accounts for
almost all of LVSC's consolidated debt capital structure.

The stable rating outlook is supported by Moody's view that LVSC
has both the ability and willingness to maintain its very strong
financial and liquidity profile.  There are no material near-term
debt maturities and plenty of financial covenant cushion.
Additionally, the company maintains a significant unrestricted cash
balance.

Further ratings improvement is limited at this time given the
secured nature of the company's entire debt capital structure; a
characteristic that Moody's do not believe is consistent with an
investment grade rating.  LVSC's ratings could be downgraded if,
for any reason, it appears that the company's debt/EBITDA will rise
above 3.5 times for an extended period of time.

LVSC owns and operates hotel and casino integrated resort
facilities in Las Vegas, NV, Bethlehem, PA, Macau, China and
Singapore.  The company reported consolidated net revenue of about
$13.5 billion for the latest 12-month period ended Sept. 30, 2015.


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



LKQ CORP: Moody's to Retain Ba1 CFR on Planned Acquisition
----------------------------------------------------------
Moody's Investors Service said that LKQ Corporation's (Ba1, stable)
plan to buy Italy-based, Rhiag Group from Apax partners for
EUR1.0 billion ($1.1 billion) does not affect the ratings of either
company, although it is a negative development for LKQ. Rhiag is a
leading distributor of spare parts primarily for passenger cars as
well as commercial vehicles in the independent Italian aftermarket
and one of the largest players across Eastern Europe.

LKQ Corporation, headquartered in Chicago, Illinois, is a leading
provider of alternative and specialty parts to repair and
accessorize automobiles and other vehicles.  LKQ has operations in
North America, the United Kingdom, the Netherlands, Belgium,
France, Australia and Taiwan.  The company offers its customers a
broad range of replacement systems, components, equipment and parts
to repair and accessorize automobiles, trucks, and recreational and
performance vehicles.  Revenues for the last twelve month period
ended Sept. 30, 2015 totaled approximately $7.1 billion.



LKQ CORP: S&P Puts 'BB+' CCR on CreditWatch Negative
----------------------------------------------------
Standard & Poor's Ratings Services said that it has placed all of
its ratings on LKQ Corp., including S&P's 'BB+' corporate credit
rating, on CreditWatch with negative implications.

"The CreditWatch placement reflects our view that the acquisition
will increase the likelihood that LKQ's credit measures will no
longer be consistent with our expectations for an intermediate
financial risk profile," said Standard & Poor's credit analyst
Lawrence Orlowski.  "We had previously expected the company to
maintain a debt leverage metric of 2x-3x or lower and a funds from
operations (FFO)-to-total debt ratio of at least 30%."  Based on
S&P's estimates pro forma for this transaction, it believes that
the company's debt-to-EBITDA metric could reach 3.0x and that its
cash flow metrics will also be worse than S&P had previously
estimated. LKQ's track record of operational efficiency and
successful acquisition integration since 2007 is solid, in S&P's
opinion.  Although this transaction, if completed successfully,
could enhance LKQ's scale and diversity in Europe, S&P views it as
somewhat more aggressive relative to the company's historical
standards.  The transaction has been approved by the boards of
directors of both companies and is subject to customary closing
conditions and regulatory approvals.  LKQ expects that the
transaction will close in the second quarter of 2016.

The CreditWatch negative placement reflects S&P's expectation that
the increased debt LKQ is assuming to fund the acquisition will
weaken its financial risk profile relative to S&P's prior
expectations.  S&P expects to resolve the CreditWatch placement in
the next 90 days after it reviews the impact of the transaction on
LKQ's business and financial risk profiles, which will focus on the
company's future capital structure and financial policy.  S&P could
lower its ratings on LKQ by up to one notch after S&P completes its
review if it believes that its debt-to-EBITDA metric was likely to
remain consistently at 3.0x or higher.



LONESTAR GENERATION: S&P Lowers Rating on $675MM Loan to 'B+'
-------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its rating on
Lonestar Generation LLC's $675 million senior secured term loan B
and $50 million senior secured revolving credit facility to 'B+'
from 'BB-'.  S&P also revised its recovery rating on the debt to
'2' from '1'.  The '2' recovery indicates substantial (70% to 90%)
recovery under a default scenario.  S&P expects recovery prospects
at the higher end of the range.

The downgrade follows significant financial underperformance of the
portfolio in the Electric Reliability Council of Texas (ERCOT)
market.  Sharply lower power prices, and resulting gross margins,
have resulted in Lonestar's projected DSCR for 2015 declining to
about 1.2x from earlier average expectations of about 1.8x to 1.9x.
The underperformance stemmed from a combination of diminished load
and depressed natural gas prices.  Unlike other regions, market
heat rates in ERCOT have not expanded to mitigate the adverse
effects of declining gas prices, resulting in a significant decline
in net revenues for all ERCOT assets, including Lonestar's
portfolio.  Over the past year, deleveraging has lagged expectation
-- it's already behind by about $42 million for year-end 2015
compared with expectations -- as the project has only repaid its
mandatory amortization.

"With this significant market volatility not likely to be resolved
in the near term, our revised expectations of DSCR levels of about
1.05 to 1.2x for 2015 and 2016 do not support ratings in the 'BB'
category," said Standard & Poor's credit analyst Aneesh Prabhu.

S&P sees the largest change in cash flows contribution from the
coal-fired Twin Oaks facility.  S&P estimates that the roughly $50
million decline in Lonestar's ERCOT gross margin compared with
estimates at the start of the year is because of lower gross
margins at this asset.  While S&P estimates a $13 million to $15
million pick up in margins from the dispatch of a portion (154
megawatts [MW]) of the Frontera combined-cycle gas turbine into
Mexico from May 2015, the increase is not enough to fully offset
the decline in credit quality.

The outlook is stable.  Despite additional volatility added to the
portfolio from merchant coal-fired gross margins, most gross
margins thorough 2016 now accrue from the toll.  With coal-fired
margins expected to be flat, S&P expects relatively stable
performance compared with the decline in margins over the past
12-months, and that the project can meet its adjusted projected
financial measures.  The DSCR should be about 1.1x during the next
12 months.



MAGNETATION LLC: Pact With AK Steel Must Be Honored, Court Says
---------------------------------------------------------------
John Myers at Forum News Service reports that Judge Gregory Kishel
granted on Dec. 22, 2015, Magnetation LLC's motion for an order
requiring that the Company's contract with AK Steel must be
honored.

Forum News relates that the court order requires AK Steel, which
had been moving to distance itself from the Company since April
2015, to continue to abide by the earlier accord to acquire the
Company's pelletized iron ore processed in Plant 4 outside Grand
Rapids.

"This contract assumption was a key item to allow us to move
forward through the process," Forum News quoted Matt Lehtinen, the
Company's president, as saying.

According to Forum News, the Company had hoped to emerge
reorganized in the spring of 2016, but Mr. Lehtinen said that will
now happen "later than previously communicated."

Forum News states that of the Company's four Iron Range processing
plants, only Plant 4 is expected to remain open into 2016.  The
report adds that two of the others are already closed down while
Plant 2 is set to idle at the end of January 2016 due to the drop
in iron ore price and demand from North American steelmakers that
have been affected by cheaper, imported steel.

                      About Magnetation LLC

Magnetation LLC -- http://www.magnetation.com/-- is a joint    
venture between Magnetation, Inc. (50.1% owner) and AK Iron
Resources, LLC, an affiliate of AK Steel Corporation (49.9%
owner).  Magnetation LLC recovers high-quality iron ore concentrate
from previously abandoned iron ore waste stockpiles and tailings
basins.  Magnetation LLC owns iron ore concentrate plants located
in Keewatin, MN, Bovey, MN and Grand Rapids, MN, and an iron ore
pellet plant in Reynolds, IN.  

Magnetation LLC and four subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Minn. Lead Case No. 15-50307) in Duluth,
Minnesota, on May 5, 2015, after reaching a deal with secured
noteholders on a balance sheet restructuring.  The cases are
assigned to Chief Judge Gregory F Kishel.

The Debtors have tapped Davis Polk & Wardwell LLP and Lapp, Libra,
Thomson, Stoebner & Pusch, Chtd., as attorneys; Blackstone
Advisory Partners LP as financial advisor; and Donlin, Recano &
Company, Inc., as the claims agent.

The Debtor's exclusive period for filing a plan and disclosure
statement ends Sept. 2, 2015.

The U.S. Trustee for Region 12 appointed three creditors of
Magnetation LLC to serve on an official committee of unsecured
creditors.


MAGNETATION LLC: Taps PJT Partners as Investment Banker
-------------------------------------------------------
Magnetation LLC, et al. seek authorization from the Hon. Gregory F.
Kishel of the U.S. Bankruptcy Court for the District of Minnesota
to employ PJT Partners LP as investment banker, replacing
Blackstone Advisory Partners L.P., nunc pro tunc to October 1,
2015.

On October 7, 2014, the Board of Directors of Blackstone's general
partner approved a plan to spin off its financial and strategic
advisory services, restructuring and reorganization advisory
services, and Park Hill fund placement businesses, and to combine
these businesses with an independent financial advisory firm
founded by Paul J. Taubman, to form an independent, publicly traded
company called PJT Partners Inc.  This spinoff was effected via a
multi-step transaction. Upon the consummation of the Transaction on
the Closing Date, Blackstone's restructuring and reorganization
advisory group became a part of PJT and Blackstone's restructuring
professionals became employees of PJT.

The Assignment Agreement provides that, subject to the Bankruptcy
Court's approval, PJT will assume and undertake to perform all of
the obligations of Blackstone under the Engagement Letter and the
Original Order, including rendering all of the services described
in the Engagement Letter and the Original Application.

The Assignment Agreement provides that PJT will benefit from all of
the rights of Blackstone under the Engagement Letter and the
Original Order, including the compensation and expense
reimbursement arrangements and the indemnification rights.

Mark Buschmann, partner of PJT Partners and Annah Kim-Rosen, chief
compliance officer of PJT Partners, 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.

PJT Partners can be reached at:

       Mark Buschmann
       PJT PARTNERS LP
       280 Park Avenue
       New York, NY 10017

                    About Magnetation LLC

Magnetation LLC -- http://www.magnetation.com/-- is a joint
venture between Magnetation, Inc. (50.1% owner) and AK Iron
Resources, LLC, an affiliate of AK Steel Corporation (49.9% owner).
Magnetation LLC recovers high-quality iron ore concentrate from
previously abandoned iron ore waste stockpiles and tailings basins.
Magnetation LLC owns iron ore concentrate plants located in
Keewatin, MN, Bovey, MN and Grand Rapids, MN, and an iron ore
pellet plant in Reynolds, IN.  

Magnetation LLC and four subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Minn. Lead Case No. 15-50307) in Duluth,
Minnesota, on May 5, 2015, after reaching a deal with secured
noteholders on a balance sheet restructuring.  The cases are
assigned to Chief Judge Gregory F Kishel.

The Debtors have tapped Davis Polk & Wardwell LLP and Lapp, Libra,
Thomson, Stoebner & Pusch, Chtd., as attorneys; Blackstone Advisory
Partners LP as financial advisor; and Donlin, Recano & Company,
Inc., as the claims agent.

The U.S. Trustee for Region 12 appointed three creditors of
Magnetation LLC to serve on an official committee of unsecured
creditors.


MAGNETATION LLC: Unit to Assume AK Steel Ore Pellet Agreement
-------------------------------------------------------------
Magnetation LLC on Dec. 23 disclosed that its subsidiary Mag Pellet
LLC has been authorized by the United States Bankruptcy Court for
the District of Minnesota to assume its long-term iron ore pellet
offtake agreement with AK Steel Corporation.

The Company sought Bankruptcy Court approval to assume the contract
in October 2015.  The Bankruptcy Court granted the Company's motion
following a hearing on the matter earlier this month.

Magnetation is pleased with the Bankruptcy Court's ruling and is
looking forward to continuing its focus on producing and shipping
high-quality fluxed iron ore pellets.  "This court decision is
critical to Magnetation's success" said Larry Lehtinen, CEO of
Magnetation.  "With this behind us, we can continue forward with
our goal of being the lowest cost iron ore pellet producer in North
America."

                     About Magnetation LLC

Magnetation LLC -- http://www.magnetation.com/-- is a joint
venture between Magnetation, Inc. (50.1% owner) and AK Iron
Resources, LLC, an affiliate of AK Steel Corporation (49.9% owner).


Magnetation LLC recovers high-quality iron ore concentrate from
previously abandoned iron ore waste stockpiles and tailings
basins.

Magnetation LLC owns iron ore concentrate plants located in
Keewatin, MN, Bovey, MN and Grand Rapids, MN, and an iron ore
pellet plant in Reynolds, IN.  

Magnetation LLC and four subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Minn. Lead Case No. 15-50307) in Duluth,
Minnesota, on May 5, 2015, after reaching a deal with secured
noteholders on a balance sheet restructuring.  The cases are
assigned to Chief Judge Gregory F Kishel.

The Debtors have tapped Davis Polk & Wardwell LLP and Lapp, Libra,
Thomson, Stoebner & Pusch, Chtd., as attorneys; Blackstone Advisory
Partners LP as financial advisor; and Donlin, Recano & Company,
Inc., as the claims agent.

The Debtor's exclusive period for filing a plan and disclosure
statement ends Sept. 2, 2015.

The U.S. Trustee for Region 12 appointed three creditors of
Magnetation LLC to serve on an official committee of unsecured
creditors.


MERCANTIL COMMERCEBANK: Fitch Affirms BB/B Issuer Default Ratings
-----------------------------------------------------------------
Fitch Ratings has affirmed the Long- and Short-term Issuer Default
Ratings (IDRs) of Mercantil Commercebank Florida Bancorp (MCFB) and
its main subsidiary, Mercantil Commercebank, N.A. at 'BB/B' with a
Stable Outlook. In addition, Fitch has assigned Long- and
Short-term IDRs of 'BB/B' to Mercantil Commercebank Holding Corp.
(MCH), the ultimate domestic U.S. holding company. Through MCH, the
bank is beneficially owned by Mercantil Servicios Financieros
(MSF), one of the largest financial institutions based in
Venezuela.

KEY RATING DRIVERS
IDRS AND VRs

MCFB's IDRs reflect its geographic concentration, mainly in South
Florida, a risk profile that includes exposure to economic
conditions in Latin America, a limited franchise, and modest
earnings metrics. Offsetting this, the company's ratings are
supported by its solid capital levels and good liquidity profile.
Fitch believes the improved financial performance over the last few
years is sustainable.

In Fitch's view, MCFB's and MCH's ratings are not immediately
affected by the deteriorating economic conditions in Venezuela and
their impact on MSF. Although MCFB and MCH are part of the
organizational structure of MSF, and the franchise could be
affected by the financial performance of its parent company/and or
affiliated companies in Venezuela and other countries, Fitch
believes any impact on the Florida-based franchise, at this time,
is limited.

In Fitch's opinion, contagion risk to MCFB from the parent is
limited at this time. MCFB's holding company structure isolates its
assets and the strong local regulator can restrict transfers of
capital and liquidity from the subsidiary to the parent. Further,
to date, there is no evidence that MSF has withdrawn liquidity or
capital. In general, subsidiary banks can be vulnerable to a sharp
deterioration in the parent's credit profile. However, Fitch
believes this is a rare case, where the subsidiary's Viability
Rating (VR), and Long-Term IDR, can be higher than its parent's
Long-Term IDR.

The funding structure is largely core-deposit driven and benefits
from a high volume of international deposits. The majority of
international funding is sourced from Venezuelan depositors who
have turned to U.S. banks as a safe haven. These deposits
historically have a very low attrition rate, limited rate
sensitivity and provide a stable source of low-cost funding.
Overall, MCFB has exhibited a relatively stable deposit base,
despite volatility in Venezuela over the last 10 years that has
pressured MSF in its home market. To cushion potential volatility
and improve diversification, the company is implementing a strategy
to increase U.S. deposits through a branch-led expansion, primarily
in the Houston area, which Fitch views favorably.

Furthermore, Fitch also believes MCH's consolidated balance sheet
has good liquidity with a combination of cash, cash equivalents and
liquid investment securities representing about 28% of total assets
as of Sept. 30, 2015 and a loan-to-deposit ratio of 87%.

In Fitch's view, the lack of access to external capital is
considered a rating constraint. That said, MCH's capital position
is adequate and supports the risks inherent in the bank's business
mix. MCH's TCE/TA ratio stood at 8.33% and tier 1 capital ratio
stood at 11.94% at Sept. 30, 2015. Given projected loan growth,
capital is expected to decline slightly, but should remain within
our expectations for the rating level. The decline should also be
manageable given the expectation of sustainable profitability.

Credit trends have significantly improved from the peak of the
crisis, as net charge-offs (NCOs), nonperforming assets (NPAs), and
the inflows of criticized/classified assets have all returned to
normalized levels. Overall, Fitch views the company's asset quality
performance over time favorably. Fitch expects future credit costs
to be manageable given the reduction in overall balances in riskier
segments of the CRE market, including construction and development
loans as well as tempered growth in commercial and industrial (C&I)
loans. For third quarter 2015 (3Q15), NPAs, calculated by Fitch to
include accruing troubled debt restructuring, were 1.31% compared
to 1.08% the same period a year ago. NCOs declined to nil for 3Q15
compared to 3.9% at the peak of the crisis year-end 2009.

MCH's earnings measures tend to be modest when compared to other
community banks and are considered a rating constraint. Fitch
attributes this to the company's asset mix, which is
lower-yielding, as cash and investment securities averaged 29% of
total assets over the past four quarters. Additionally, MCH's large
correspondent banking business and short-term trade finance
business are lower-yielding than other types of loans, which also
constrains spread revenue and the margin. Other factors affecting
recent performance include the extended period of low interest
rates as well as increased expenses related to on-going growth
efforts.

The company has improved diversification in its loan mix by
reducing real estate lending and growing its C&I portfolio.
Although Fitch views the diversification in the loan mix as a
positive, the industry in general has also been growing C&I loans
and competition is fierce. As such, Fitch views the company's
recent pullback in 2015 favorably. In general, Fitch is concerned
with the potential for credit quality deterioration.

Given MCFB's targeted, niche client base, which gives the company
an opportunity to leverage its expertise in Latin America as well
as in oil-related industries, there is some concern that asset
quality could deviate from recent trends given the prolonged
decline in energy and commodities prices. Additionally, the bank
also engages in syndicated lending through participations in large
lending arrangements to corporate borrowers. Although performance
to date has been stable, Fitch believes a reversion in credit
performance to normalized levels from historical lows may lead to
credit deterioration in the syndicated loan book.

SUPPORT RATING AND SUPPORT RATING FLOOR

MCH and MCFB have a Support Rating of '5' and Support Rating Floor
of 'NF'. In Fitch's view, MCH and MCFB are not systemically
important and, therefore, the probability of support is unlikely.
IDRs and VRs do not incorporate any support.

LONG- AND SHORT-TERM DEPOSIT RATINGS

Mercantil Commercebank, N.A.'s uninsured deposit ratings are rated
one notch higher than its IDR and senior unsecured debt rating
because U.S. uninsured deposits benefit from depositor preference.
U.S. depositor preference gives deposit liabilities superior
recovery prospects in the event of default.

HOLDING COMPANY

MCH has a bank holding company (BHC) structure with the bank as the
main subsidiary. The subsidiary is considered core to the parent
holding company, supporting equalized ratings between the bank
subsidiary and the BHC. IDRs and VRs are equalized with those of
MCH's operating company and bank reflecting its role as the BHC,
which is mandated in the U.S. to act as a source of strength for
its bank subsidiaries.

RATING SENSITIVITIES

IDRS AND VR

Given MCFB's geographic concentration in South Florida, its IDRs
are sensitive to market conditions within its regional footprint.
Additionally, MCFB has a large component of international exposure
(roughly 34% of its total loan book), which is also affected by
economic conditions in Latin America.

MCFB's ratings are on the high end of its near term rating
potential. Although Fitch recognizes the company's improvements in
asset quality and its strategy to diversify its deposit base, the
company's ties to its parent company, MSF, and affiliated bank,
Mercantil CA Banco Universal, are considered a rating constraint.

Fitch notes that there may be risks to MCFB's Venezuelan deposit
base as depositors may seek to withdraw their funds to make routine
operational purchases. Factors that could trigger negative rating
action would be a change in depositor behavior as evidenced by a
declining trend in deposits. Although not anticipated, reputational
risk is also a concern given that MCFB's ultimate parent is
domiciled in Venezuela.

Other factors that would be viewed negatively are a decline in
capital or a material deterioration in credit performance. Fitch
notes that MCH has, historically, experienced above-average C&I
loan growth that is, as yet, unseasoned.

SUPPORT RATING AND SUPPORT RATING FLOOR

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


LONG- AND SHORT-TERM DEPOSIT RATINGS

The ratings of long- and short-term deposits issued by Mercantil
Commercebank, N.A. are primarily sensitive to any change in the
company's IDRs. This means that should a Long-term IDR be
downgraded, deposit ratings could be similarly affected.
HOLDING COMPANY
If MCH or MCFB became undercapitalized or increased their double
leverage significantly, there is potential that Fitch could notch
the holding company IDR and VR from the ratings of the operating
companies.

PROFILE
Established in 1979, Mercantil Commercebank, N.A. (MCB), based in
Coral Gables, FL, is a privately held, FDIC insured, nationally
chartered bank, regulated by the Office of the Comptroller of the
Currency (OCC). The bank has 12 branches throughout Miami-Dade
County, four in Broward County, one in Palm Beach County, one in
New York, NY, and five in the Houston, TX area. The bank is
ultimately beneficially owned by Mercantil Servicios Financerios
(MSF), one of the largest financial groups based in Venezuela.
Fitch has affirmed the following ratings:

Mercantil Commercebank Florida BanCorp.
-- Long-term IDR at 'BB'; Outlook Stable;
-- Short-term IDR at 'B';
-- VR at 'bb';
-- Support at '5';
-- Support floor at 'NF'.

Mercantil Commercebank, N.A.
-- Long-term IDR at 'BB'; Outlook Stable;
-- Long-term deposits t 'BB+';
-- Short-term IDR at 'B';
-- Short-term deposits at 'B';
-- VR at 'bb';
-- Support at '5';
-- Support Floor at 'NF'.

Fitch has assigned the following ratings:

Mercantil Commercebank Holding Corp.
-- Long-term IDR of 'BB'; Outlook Stable;
-- Short-term IDR of 'B';
-- VR of 'bb';
-- Support of '5';
-- Support floor of 'NF'.



MF GLOBAL: Corzine, CFTC Duel Over Collapse
-------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that MF Global Holdings Ltd. collapsed more than four
years ago, but former New Jersey Gov. Jon Corzine and the U.S.
Commodity Futures Trading Commission are still sparring in federal
court over who is to blame.

According to the report, the brokerage firm collapsed in the fall
of 2011 revealing a shortfall of more than $1 billion in customer
accounts.  In an exchange of court papers, lawyers for the CFTC and
for Mr. Corzine argued whether Mr. Corzine is liable as the person
in control when the brokerage tapped customer accounts to support
its own proprietary operations, the report related.

                         About MF Global

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

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

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

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

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

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

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

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP, as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.

The Official Committee of Unsecured Creditors has retained
Capstone Advisory Group LLC as financial advisor, while lawyers at
Proskauer Rose LLP serve as counsel.

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

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

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


MILLENNIUM LAB: Judge Silverstein Won't Halt Chapter 11 Plan
------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge refused on Dec. 18, 2015, to halt Millennium Lab's
Chapter 11 plan, which aims to resolve a $256 million False Claims
Act deal with federal regulators, to wait for objecting creditors'
attempt to appeal to the Third Circuit, agreeing with the Debtors
that the wait could tank the company.

Ruling from the bench in Wilmington, U.S. Bankruptcy Judge Laurie
Selber Silverstein said that the balance of harms tipped well in
favor of drug-testing company Millennium Labs, which maintained it
had a hard deadline to pay.

                       About Millennium Lab

Millennium Lab Holdings II, LLC, Millennium Health, LLC and
Rxante, LLC, providers of laboratory-based diagnostic testing
focused on drugs of abuse and clinical medication monitoring,
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos.
15-12284, 15-12285 and 15-12286, respectively) on Nov. 10, 2015.
The Debtors estimated assets in the range of $100 million to $500
million and liabilities of more than $1 billion.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP
as counsel; Young Conaway Stargatt & Taylor, LLP as conflicts
counsel; Lazard Freres & Co., LLC, as investment banker; Alvarez &
Marsal as financial advisor; and Prime Clerk LLC as claims and
noticing agent.

Judge Laurie Selber Silverstein has been assigned the case.


MILLENNIUM LAB: Reorganization Plan Declared Effective
------------------------------------------------------
BankruptcyData reported that Millennium Health's Amended
Prepackaged Joint Plan of Reorganization became effective, and the
Company emerged from Chapter 11 protection.

Chief executive officer Brock Hardaway comments, "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."  This privately-held medical
monitoring provider filed for Chapter 11 protection on Nov. 10,
2015, listing more than $100 million in prepetition assets.

                       About Millennium Lab

Millennium Lab Holdings II, LLC, Millennium Health, LLC and
Rxante, LLC, providers of laboratory-based diagnostic testing
focused on drugs of abuse and clinical medication monitoring,
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos.
15-12284, 15-12285 and 15-12286, respectively) on Nov. 10, 2015.
The Debtors estimated assets in the range of $100 million to $500
million and liabilities of more than $1 billion.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP
as counsel; Young Conaway Stargatt & Taylor, LLP as conflicts
counsel; Lazard Freres & Co., LLC, as investment banker; Alvarez &
Marsal as financial advisor; and Prime Clerk LLC as claims and
noticing agent.

Judge Laurie Selber Silverstein has been assigned the case.


NAKED BRAND: Successfully Completes $7.5 Million Public Offering
----------------------------------------------------------------
Naked Brand Group Inc. has successfully completed its underwritten
public offering of 1,875,000 shares of common stock at an offering
price of $4.00 per share.  The offering resulted in gross proceeds
of $7.5 million and net proceeds of approximately $6.5 million,
after underwriting discounts and estimated expenses of the
offering.

In connection with the offering, the shares began trading on the
NASDAQ Capital Market under the symbol "NAKD" as of Dec. 18, 2015.

Noble Financial Capital Markets and Dawson James Securities, Inc.
acted as the underwriters in connection with the offering.  Dawson
James Securities, Inc. also acted as the "qualified independent
underwriter" (as defined by applicable FINRA rules) for the
offering.

Duane Morris LLP, New York office, acted as counsel to the Company
and Roetzel & Andress LPA acted as counsel to the underwriters.

The offering was made pursuant to a prospectus filed as part of an
effective registration statement that Naked filed with the
Securities and Exchange Commission.

                       About Naked Brand

Naked Brand Group Inc. designs, manufactures, and sells men's
innerwear and lounge apparel products in the United States and
Canada.  It offers various innerwear products, including trunks,
briefs, boxer briefs, undershirts, T-shirts, and lounge pants
under the Naked brand, as well as under the NKD sub-brand for men.
The company sells its products to consumers and retailers through
wholesale relationships and direct-to-consumer channel, which
consists of an online e-commerce store, thenakedshop.com.  Naked
Brand Group Inc. is based in New York, New York.

Naked Brand reported a net loss of $21.07 million for the year
ended Jan. 31, 2015, compared to a net loss of $4.23 million for
the year ended Jan. 31, 2014.

BDO USA, LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Jan. 31, 2015, citing that the Company incurred a net loss of
$21,078,265 for the year ended Jan. 31, 2015, had a capital deficit
of $2,224,180 at Jan. 31, 2015, and the Company expects to incur
further losses in the development of its business.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.

As of Oct. 31, 2015, the Company had $2.01 million in total assets,
$2.46 million in total liabilities and a $444,074 total capital
deficit.

                          Going Concern

"At October 31, 2015, we did not have sufficient working capital to
implement our proposed business plan over the next 12 months, had
not yet achieved profitable operations and expect to continue to
incur significant losses from operations in the immediate future.
These factors cast substantial doubt about our ability to continue
as a going concern.  To remain a going concern, we will be required
to obtain the necessary financing to meet our obligations and repay
our substantial existing liabilities as well as further liabilities
arising from normal business operations as they come due.
Management plans to obtain the necessary financing through the
issuance of equity to existing stockholders.  Should we be unable
to obtain this financing, we may need to substantially scale back
operations or cease business.  The financial statements do not
include any adjustments that might result from the outcome of this
uncertainty.  There are no assurances that we will be able to
obtain additional financing necessary to support our working
capital requirements.  To the extent that funds generated from
operations are insufficient, we will have to raise additional
working capital.  No assurance can be given that additional
financing will be available, or if available, will be on terms
acceptable to us," the Company states in the Quarterly Report for
the period ended Oct. 31, 2015.


NELSON SERVICE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Nelson Service Group, Inc.
        900 South Chestnut Street
        Florence, AL 35630

Case No.: 15-83453

Chapter 11 Petition Date: December 23, 2015

Court: United States Bankruptcy Court
       Northern District of Alabama (Decatur)

Judge: Hon. Clifton R. Jessup Jr.

Debtor's Counsel: Kevin D. Heard, Esq.
                  HEARD, ARY & DAURO, LLC
                  303 Williams Avenue SW
                  Park Plaza Suite 921
                  Huntsville, AL 35801
                  Tel: (256) 535-0817
                  Fax: (256) 535-0818
                  Email: kheard@heardlaw.com

Total Assets: $1.49 million

Total Liabilities: $750,415

The petition was signed by Alex Nelson, president and CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/alnb15-83453.pdf


NORTHERN FRONTIER: Obtains Temporary Financial Covenant Waiver
--------------------------------------------------------------
Northern Frontier Corp. on Dec. 24 disclosed that is has received a
temporary waiver from its senior lending syndicate of certain
financial covenants under its senior credit facilities for the
period ended December 31, 2015.

Management believes that Northern Frontier may breach certain
financial covenants under its senior credit facilities for the
period ended December 31, 2015 and has negotiated a Waiver of the
anticipated breaches from its Lenders.  The Waiver terms are as
follows:

   -- the Lenders waive compliance by Northern Frontier of the
senior funded debt to EBITDA ratio covenant;

   -- the Lenders waive compliance by Northern Frontier of the
fixed charge coverage ratio covenant; and

   -- the Waiver expires on February 15, 2016.

The Waiver is conditional on, among other items, Northern Frontier
entering into an amended and restated senior credit facilities on
terms satisfactory to the Lenders on or before the expiration of
the Waiver Period.  The Waiver is a temporary solution to allow
management and the Lenders adequate time to amend Northern
Frontier's credit facilities.

                  About Northern Frontier Corp.

Northern Frontier's strategic objective is to create a large
industrial and environmental services business through a buy and
build growth strategy.  Currently, the Corporation provides: civil
construction, excavation, fabrication and maintenance services to
the industrial industry, bulk water transfer logistic services and
installs and dismantles remote workforce lodging and modular
offices in western Canada.


NORTHWEST MANAGEMENT: Case Summary & 8 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Northwest Management, LLC
        13601 - 80th Circle North, Suite 300
        Maple Grove, MN 55369

Case No.: 15-44366

Chapter 11 Petition Date: December 23, 2015

Court: United States Bankruptcy Court
       District of Minnesota (Minneapolis)

Judge: Hon. Katherine A. Constantine

Debtor's Counsel: Steven B Nosek, Esq.
                  STEVEN NOSEK, P.A.
                  2855 Anthony Ln S, Ste 201
                  St Anthony, MN 55418
                  Tel: 612-335-9171
                  Email: snosek@noseklawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jerry Ritten, president.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/mnb15-44366.pdf


OAKFABCO INC: Asbestos Panel Wants Insurance Professional Services
------------------------------------------------------------------
The Asbestos Claimants' Committee in the Chapter 11 case of
Oakfabco, Inc., seeks authority from the U.S. Bankruptcy Court for
the Northern District of Illinois to retain Henry Booth and Colin
Gray to provide the insurance professional services.

According to the Committee, on Sept. 11, 2015, the Debtor filed
three motions seeking orders authorizing and approving certain
settlement agreements that the Debtor entered into with certain
insurers prior to the Petition Date.

Among other things, the Insurance Settlement Agreements provide for
payments totaling $17,333,079 in settlement of any remaining
obligations of the Settling Insurers under policies that they
issued to the Debtor.  The Debtor intends to file a Chapter 11 plan
of liquidation providing for the establishment of a liquidating
trust, funded by the Settlement Proceeds, to resolve and pay
existing asbestos claims against the Debtor.

In this relation, the Asbestos Committee has determined that in
order to properly evaluate the Insurance Settlement Motions, it
needs the assistance of both an insurance archeologist and
insurance erosion auditor.

The Debtor has provided the Asbestos Committee with evidence of
three missing excess liability insurance policies, aggregating $12
million in limits for asbestos bodily injury claims.  However, the
Debtor and the Settling Insurers have been unsuccessful in locating
those policies.  Mr. Booth will serve as insurance archaeologist to
either locate the policies, or alternatively, reconstruct their
terms, if possible.  Mr. Booth will provide services at the reduced
hourly rate of $300, plus out of pocket expenses.  Mr. Booth's rate
in the case represents a reduction of $100/hour from the rate that
Mr. Booth customarily charges for expert consultation and
testimony.  In addition, Mr. Booth has agreed to cap his fees at
$3,500.

Mr. Gray will serve as insurance recoveries specialist, and
insurance erosion auditor.  Mr. Gray proposes to provide services
at his regular hourly rate of $400.  Mr. Gray estimates the cost of
his services ranging from $8,000 to $20,000, plus out of pocket
expenses.

To the best of the Committee's knowledge, Messrs. Booth and Gray
are "disinterested persons" as that term is defined in Section
101(14) of the Bankruptcy Code.

The Asbestos Claimants' Committee is represented by:

         Frances Gecker, Esq.
         Joseph D. Frank, Esq.
         Micah R. Krohn, Esq.
         FRANKGECKER LLP
         325 North LaSalle Street, Suite 625
         Chicago, IL 60654
         Tel: (312) 276-1400
         Fax: (312) 276-0035
         E-mail: mkrohn@fgllp.com

                      About Oakfabco, Inc.

Oakfabco, Inc, formerly known as Kewanee Boiler Corporation, has
not manufactured boilers since 1988 when it sold its Kewanee
boiler
business in an 11 U.S.C. Section 363 sale to Coppus Engineering
Corporation.  In early 2009, it sold all of its remaining assets.
The Debtor has no employees, and, Frederick W. Stein is the
Debtor's sole officer and director.  The Debtor's sole remaining
asset is its insurance, and it has no known liabilities other than
asbestos claims.

In January 1970, Kewanee Boiler Corp, then a newly-formed Illinois
Corporation, acquired the assets and debt of American Standard,
Inc.'s commercial boiler manufacturing division known as "Kewanee
Boiler."  The boilers manufactured and sold by Kewanee Boiler were
insulated with asbestos.

Oakfabco sought Chapter 11 protection (Bankr. N.D. Ill. Case No.
16-27062) on Aug. 7, 2015, to resolve its remaining asbestos
claims.  Reed Smith LLP serves as counsel to the Debtor.

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

The U.S. Trustee for Region 11, appointed four members to the
Asbestos Claimants' Committee in the Chapter 11 bankruptcy case of
Oakfabco Inc.


OAS SA: Gets Creditor Support for $339M Sale of Invepar Stake
-------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Brazilian
construction firm OAS SA said on Dec. 18, 2015, that it had reached
a deal with creditors to reorganize the company, a plan that would
include the sale of the firm's prized stake in airport and
infrastructure manager Invepar for at least 1.35 billion reais
($339 million).

OAS said it plans to sell the Invepar stake to global investment
firm Brookfield Asset Management Inc., subject to court approval.
Brookfield had been negotiating with OAS before the construction
firm filed for bankruptcy in April.

                          About OAS S.A.

The OAS Group is among the largest and most experienced
infrastructure companies in Brazil, focusing on heavy engineering
and equity investments in infrastructure projects located in and
outside Brazil and abroad for both public and private clients.  The
OAS Group provides services in 22 countries in Latin America, the
Caribbean and Africa.

Based in Sao Paulo, Brazil, OAS S.A. is the holding company at the
apex of the OAS Group.  Its share capital is divided between CMP
Participacoes Ltda. (owned by Mr. Cesar de Araujo Mata Pires),
which has a 90% stake, and LP Participacoes e Engenharia Ltd.
(owned by Mr. Jose Adelmario Pinheiro Filho, which has a 10%
stake.

Amid an investigation into alleged corruption and money laundering,
and missed interest payments, OAS S.A. and its affiliates
Construtora OAS S.A., OAS Investments GmbH, and OAS Finance Limited
on March 31, 2015, commenced judicial reorganization proceedings
before the First Specialized Bankruptcy Court of Sao Paulo pursuant
to Federal Law No. 11.101 of February 9, 2005 of the laws of the
Federative Republic of Brazil.

On April 15, 2015, OAS S.A., et al., filed Chapter 15 bankruptcy
petitions (Bankr. S.D.N.Y. Lead Case No. 15-10937) in Manhattan, in
the United States to seek U.S. recognition of the Brazilian
proceedings.  Renato Fermiano Tavares, as foreign representative,
signed the petitions.  The cases are assigned to Judge Stuart M.
Bernstein. White & Case, LLP, serves as counsel in the U.S. cases.

OAS S.A. listed at least US$1 billion in assets and liabilities.



OPPENHEIMER HOLDINGS: Moody's Affirms B2 CFR, Alters Outlook to Pos
-------------------------------------------------------------------
Moody's Investors Service affirmed Oppenheimer Holdings, Inc.'s B2
corporate family rating and B2 senior secured debt rating, and
changed the rating outlook to positive from stable.

RATINGS RATIONALE

Moody's said the rating affirmation is driven by Oppenheimer's
modestly profitable franchise and diversified revenue base, and its
commitment towards maintaining sufficient investment in and
attention to risk management and compliance functions that are at
the appropriate level for the brokerage industry.  In working to
remediate various compliance challenges that arose after the onset
of the financial crisis, Oppenheimer has not appeared to increase
risk in other areas of its business in an attempt to boost returns,
an important positive factor that supports its existing
creditworthiness, said Moody's.

The company's debt/EBITDA (adjusted to capitalize operating leases)
was 4.3x for the trailing 12-months through September 2015, which
is a reasonably healthy level for its existing rating, said
Moody's.

Moody's said the change to a positive outlook reflects the
potential for Oppenheimer's credit strength to improve over the
next year.  Oppenheimer has invested substantial resources with the
objective of improving its compliance function and financial
advisor oversight, and, if successful, this would alter its
post-crisis trend of compliance failures and incurrence of
significant fines and penalties, said Moody's.  Separately, said
Moody's, Oppenheimer's earnings should benefit from increased
short-term interest rates via higher cash sweep fees on client cash
balances. Moody's added that Oppenheimer's ongoing consideration of
creditors' interests in its operating and strategic decision-making
priorities will remain a key factor in its assessment of
Oppenheimer's creditworthiness.

What Could Change the Rating -- UP

Moody's said the demonstration of an improved risk and control
framework could result in Oppenheimer's ratings being upgraded.  A
sustained improvement in profitability and debt leverage could also
lead to an upgrade, said Moody's.

What Could Change the Rating -- DOWN

Moody's said that any significant new issues in risk control or
litigation could pressure Oppenheimer's ratings.  A broad slowdown
in revenue generation leading to losses would also be viewed
negatively, added Moody's.

The principal methodology used in these ratings was Global
Securities Industry Methodology published in May 2013.



P2 LOWER: Moody's Affirms B2 CFR & Changes Outlook to Stable
------------------------------------------------------------
Moody's Investors Service changed the rating outlook of P2 Lower
Acquisition, LLC (parent borrower of HELIOS) to stable from
negative.  At the same time, Moody's affirmed P2's existing
ratings, including its B2 CFR.  HELIOS provides pharmacy benefit
management services for the workers' compensation market and is
jointly owned by StoneRiver Group, LP and affiliates of Kelso &
Company.

Ratings affirmed with a stable outlook:

P2 Lower Acquisition LLC

  Corporate Family Rating at B2
  Probability of Default Rating at B2-PD
  First Lien Term Loan at B1 (LGD3)
  Revolving Credit Facility at B1 (LGD3)
  Second Lien Term Loan at Caa1 (LGD5)

RATINGS RATIONALE

The stable outlook reflects Moody's view that the company will
maintain leverage at levels consistent with its B2 CFR and will
refrain from any large debt-financed dividends and acquisitions
over the next 12 to 18 months.  Following a $210 million dividend
recap in 2014, HELIOS has deleveraged to about 5.2 times for the
LTM period ended Sept. 30, 2015.

"HELIOS will benefit from ongoing growth in the business, which
should help with further deleveraging after taking on debt to fund
a large dividend," said Diana Lee, a Moody's Vice President and
Senior Credit Officer.

HELIOS's B2 CFR reflects its high financial leverage, its position
as a niche PBM focused exclusively on the workers' compensation
market and its relatively high customer concentration.  The company
is a leading player in this space, which has unique characteristics
compared to group health insurance.  But, HELIOS will continue to
face competition from several standalone workers compensation PBMs
as well as players with a large presence in the group health
segment.  New customer wins will be critical to future performance
especially in light of only recent improvement in profitability.
There is risk of acquisitions, especially in this consolidating
sector.

If the company engages in debt-financed acquisitions or additional
dividends, such that debt/EBITDA is likely to be sustained above
5.5 times, the ratings could be downgraded.  If the company is able
to gain new clients, improve profitability and cash flow, and
demonstrates a more conservative posture toward shareholder and
acquisitions, the ratings could be upgraded.  If the company
sustains debt/EBITDA below 4.5 times, the ratings could be
upgraded.

The principal methodology used in this rating was the Distribution
& Supply Chain Services Industry published in December 2015.

P2 Lower Acquisition, LLC is the parent borrowing entity for HELIOS
(formerly known as Progressive Solutions, LLC, which merged with
PMSI in October 2013).  Headquartered in Memphis, Tennessee, HELIOS
is a workers' compensation pharmacy benefit manager and ancillary
service provider.



PACIFIC EXPLORATION: Fitch Cuts LT Issuer Default Ratings to 'CCC'
------------------------------------------------------------------
Fitch Ratings has downgraded Pacific Exploration and Production
Corp. foreign and local Long-term Issuer Default Ratings (IDRs) to
'CCC' from 'B-'. Fitch has also downgraded to 'CCC/RR4' from '
B-/RR4' the long-term rating on Pacific's outstanding senior
unsecured debt issuances totalling approximately USD4 billion with
final maturities in 2019 through and 2025. The ratings were
previously on Rating Watch Negative.

KEY RATING DRIVERS

The downgrade reflects Fitch's expectations that the company's
capital structure could weaken to an unsustainable level over the
near term as a result of slower oil price recovery expectations.
The rating action also incorporates the company's delay in the sale
of assets to bolster liquidity as well as delays in reaching an
agreement with the company's syndicate of lenders under its USD1
billion revolving credit facility and other bank loans. Towards the
end of September 2015, the company received a 90 days waiver, which
expires at the end of December 2015, for some maintenance covenants
included in these facilities.

A key factor in Fitch's previous rating commentary was the delay in
the sale of none-core assets to bolster liquidity and the company's
ability to negotiate covenants with banks. The company is yet to
announce a material divestiture and negotiation with its syndicate
of bank with regards to the covenants are still ongoing. On Dec.
17, 2015, the company announced that the syndicate of lenders under
the revolving credit agreement had formed a steering committee to
negotiate the terms of a potential extension of covenant relief.
Simultaneously, the company announced it had hired Lazard Freres &
Co. LLC as its financial advisor in order to assist with the
ongoing negotiations.

Pacific credit metrics have been materially affected by the sharp
decline in oil prices, as well as the company's debt increase
during 2015. Total and net debt/EBITDA for the latest 12 months
(LTM) ended September 2015 have increased to 4.3x and 3.9x, from
1.9x and 1.8x, as of year-end 2014. This was mostly due to due to
the decline in global oil prices as well as Pacific's debt increase
of more than USD600 million during first-half 2015. Positively,
Pacific reported zero short-term debt as of September 2015.

KEY ASSUMPTIONS

-- Fitch's price deck for WTI oil prices of $50/bbl for 2015 and
    2016, recovering to $60/bbl in 2017;

-- Piriri-Rubiales field reverts to Ecopetrol in 2016;

-- Production declines on a year-over-year basis in 2016 and
    2017.

RATING SENSITIVITIES

A negative rating action would be triggered by any combination of
the following events:

-- A continuous deterioration of the company's capital structure
    and liquidity as a result of either a decrease in production
    as a result of capex curtailment or persistent low oil prices;


-- A significant reduction in the reserve replacement ratio could

    affect Pacific's credit quality given the current proved
    reserve life of approximately 9 years when excluding Piriri-
    Rubiales production.

A positive rating action is unlikely in the medium term.

LIQUIDITY

Adequate Liquidity Position: The company's liquidity position as of
Sept. 30, 2015 was adequate, with Pacific reporting $489 million of
cash on hand an zero short-term debt. The company's debt
amortization schedule is spread between 2017 and 2025 with an
average of $1 billion coming due every two years. Pacific's
liquidity could remain relatively stable provided the company
succeeds at running a balanced FCF over the next two years which
would potentially stabilize the credit; break even FCF is possible
with Fitch's new price deck if the majority of the company's capex
is considered discretionary and is cut without further erosion of
production. Liquidity could deteriorate significantly if the
company fails to reach an agreement with its syndicate lenders.  

Fitch has downgraded the following ratings:

Pacific Exploration and Production Corp.

-- Foreign and local currency IDRs to 'CCC' from 'B-';

-- International senior unsecured bond ratings to 'CCC/RR4' from
    'B-/RR4'.



PACIFIC THOMAS: Can Recover $22K from Darrow Family
---------------------------------------------------
Kyle Everett, Chapter 11 trustee of the bankruptcy estate of
Pacific Thomas Corporation, brought the adversary proceeding to
recover prepetition and postpetition transfers from the Debtor's
estate, either directly or by Pacific Trading Ventures to Darrow
Family Partners.

At trial, the Plaintiff entered into evidence a spreadsheet that
identified the Defendant as the initial transferee or entity for
whose benefit the transfer was made.  The Defendant stipulated to
the admissibility of this evidence.  Further, its admissions
conclusively establish that the Defendant was the initial
transferee or entity for whose benefit the transfer was made.

The Defendant asserts that relief should be denied on the basis of
res judicata or claim preclusion.  The Defendant asserts claim
preclusion and, more specifically, claim splitting by the
Plaintiff.

The Plaintiff established by the Defendant's admission that each
Transfer was a transfer of an interest of the Debtor in property.
The Defendant sought to rebut its own admission however the
evidence presented is insufficient to overcome the Defendant's
admission that each transfer was a transfer of an interest in the
Debtor's property.

Judge M. Elaine Hammond of the United States Bankruptcy Court for
the Northern District of California entered judgment for the
Plaintiff finding that the Plaintiff established that the Defendant
received $22,024 in Transfers that are avoided and recoverable from
the Defendant.

The adversary proceeding is Kyle Everett, Plaintiff, v. Darrow
Family Partners, Defendant, Adv. No. 14-5105 (Bankr. N.D. Calif.).

The case is In re Pacific Thomas Corporation, Chapter 11, Debtor,
Case No. 14-54232 MEH (Bankr. N.D. Calif.).

A full-text copy of the Memorandum Decision dated December 8, 2015
is available http://is.gd/5CY7Srfrom Leagle.com.

Kyle Everett, Plaintiff, represented by Robert E Izmirian, Esq. --
rizmirian@buchalter.com -- BUCHALTER, NEMER, FIELDS AND YOUNGER.

Darrow Family Partners, Defendant, represented by Paul McCarthy,
Esq. -- LAW OFFICES OF PAUL MCCARTHY.

                 About Pacific Thomas Corp.

Walnut Creek, California, Pacific Thomas Corporation filed a
Chapter 11 petition (Bankr. N.D. Cal. Case No. 12-46534) in
Oakland on Aug. 6, 2012, estimating in excess of $10 million in
assets and liabilities.

The Debtor is related to Pacific Thomas Capital, which specializes
in real estate services, focusing on the investment, ownership and
development of commercial real estate properties, according to
http://www.pacificthomas.com/ Real estate activities has spanned  
throughout the Hawaiian Islands as well as U.S. West Coast
locations in California, Nevada, Arizona and Utah.  Hawaii based
activities are managed under the name Thomas Capital Investments.

Bankruptcy Judge M. Elaine Hammond presides over the case.  Anne-
Leith Matlock, Esq., at Matlock Law Group, P.C., serves as general
counsel.  The petition was signed by Jill V. Worsley, COO,
secretary.  Kyle Everett was named Chapter 11 trustee of the
Debtor.  Craig C. Chiang, Esq., at Buchalter Nemer, P.C., in San
Francisco, Calif., represents the Chapter 11 trustee as counsel.

In its schedules, the Debtor disclosed $19,960,679 in assets and
$16,482,475 in liabilities as of the petition date.

In January 2014, Judge Hammond entered an order holding that
Pacific Thomas Corp.'s Fourth Amended Disclosure Statement, filed
on Dec. 31, 2013, is not approved for the reasons stated on the
record at the Jan. 16 hearing.  Pursuant to the Plan, the Debtor
proposes to avail of a loan from Thorofare Capital to pay off some
secured claims.  The new loan would be refinanced by the
reorganized company before the loan terms expires.  If the
reorganized company fails to do so, the safe storage parcels of
the Pacific Thomas properties will be sold.


PEABODY ENERGY: Moody's Lowers CFR to Caa3, Outlook Negative
------------------------------------------------------------
Moody's Investors Service downgraded the ratings of Peabody Energy
Corporation, including the corporate family rating to Caa3 from
Caa1, probability of default rating to Caa3-PD from Caa1-PD, the
ratings on the senior secured credit facility to B3 from B2, the
ratings on second lien debt to Caa3 from Caa1, the ratings on
senior unsecured notes to Ca from Caa2, and the junior subordinated
debenture ratings to C from Caa3.  The speculative grade liquidity
rating of SGL-3 remains unchanged.  The outlook is negative.  This
concludes the review for possible downgrade initiated on Aug. 27,
2015.

Downgrades:

Issuer: Peabody Energy Corporation

  Corporate Family Rating, Downgraded to Caa3 from Caa1

  Probability of Default Rating, Downgraded to Caa3-PD from
   Caa1-PD

  Junior Subordinated Conv./Exch. Bond/Debenture, Downgraded to
   C (LGD6) from Caa3 (LGD6)

  Senior Secured Bank Credit Facilities, Downgraded to B3 (LGD2)
   from B2 (LGD2)

  Senior Secured Regular Bond/Debenture, Downgraded to Caa3 (LGD3)

   from Caa1 (LGD3)

  Senior Unsecured Regular Bond/Debenture, Downgraded to Ca (LGD5)

   from Caa2 (LGD5)

Outlook Actions:

  Outlook, Changed To Negative From Rating Under Review

RATINGS RATIONALE

The downgrade reflects our expectation of continued deterioration
in the company's credit metrics due to the ongoing decline in the
seaborne metallurgical coal markets and weakness in the US and
seaborne thermal coal markets, as well as our expectation that
market recovery will be slower and more protracted than previously
anticipated.  As of Sept. 30, 2015, the company's Debt/ EBITDA, as
adjusted stood at 8.7x, and over the preceding twelve months the
company burned over $500 million in cash.  Moody's expects the
leverage to continue increasing and liquidity to continue
deteriorating, absent market improvements or deleveraging actions.

On Dec. 17, 2015, the company filed Form 8-K with the US Securities
and Exchange Commission, stating that it continues to evaluate its
options to reduce leverage and preserve liquidity, including
potential debt exchanges and buybacks.  The ratings reflect our
expectation that if the company undertakes debt exchanges and/or
other restructuring options, the debt holders will not recover the
full amounts due as outlined in the original debt agreements, which
would meet Moody's definition of default.

The B3 rating on the secured facility, three notches above the Caa3
CFR, reflects the security provided by the collateral package,
which includes a claim on certain US properties and various stock
pledges.  The Caa3 rating on the second lien notes, in line with
the CFR, reflects their relative position in the capital structure
with respect to claims on collateral, behind the senior secured
credit facility but ahead of the Ca rated unsecured notes and C
rated subordinated debentures.

The speculative grade liquidity rating of SGL-3 reflects adequate
liquidity, including cash and cash equivalents of $334 million,
$1.4 billion available under $1.65 billion revolver and $48 million
of available capacity under the accounts receivable securitization
program as of Sept. 30, 2015.  Moody's expects that absent a market
recovery, the company may have limited headroom under covenants in
2016.  Peabody has several alternatives for arranging back-door
liquidity if necessary.  Peabody's large number of mines and its
operational diversity across the PRB and Illinois Basin give it the
flexibility to sell non-core assets if necessary.

A further downgrade will be considered if liquidity and/or leverage
continue to deteriorate.  While an upgrade is unlikely in the near
term, it would be considered if Moody's expected Debt/ EBITDA, as
adjusted, to be sustained below 6.5x while maintaining adequate
liquidity.

The principal methodology used in these ratings was Global Mining
Industry published in August 2014.

Peabody Energy Corporation is the world's largest private sector
coal company with coal mining operations in the US and Australia
and close to 8 billion tons of proven and probable reserves.  For
the twelve months ended Dec. 31, 2014, the company sold 249.8
million tons of coal and generated $6.8 billion in revenues,
including 25 million tons of thermal coal sold from the Midwestern
division, 166.4 million tons of thermal coal sold from the Powder
River Basin and Colorado, 38.2 million of tons of thermal and
metallurgical coal from Australia, and 20.2 million tons from
trading and brokerage.  For the twelve months ended Sept. 30, 2015,
the company generated $6 billion in revenues.



PRESSURE BIOSCIENCES: Stockholders Elect Two Class I Directors
--------------------------------------------------------------
Pressure BioSciences, Inc., held a special meeting in lieu of the
annual meeting of stockholders on Dec. 18, 2015.  At the Meeting,
the stockholders:

  (1) elected Jeffrey Peterson and Michael Urdea as class I
      directors to hold office until the 2018 Annual Meeting of
      Stockholders;

  (2) ratified the appointment of MaloneBailey LLP as the
      Company's independent auditors for fiscal year 2015;

  (3) approved an amendment to the Company's articles of
      organization to effect a reverse stock split of its Common
      Stock by a ratio of not less than one-for-two and not more
      than one-for-twenty at any time within twelve months
      following the Meeting for the purpose of assisting the
      Company in meeting the listing requirements of the Nasdaq
      Capital Market or another exchange, with the decision of
      whether or not to implement a reverse stock split and the
      exact ratio to be set at a whole number within this range to

      be made by the Company's Board of Directors in its sole
      discretion; and

  (4) approved an adjournment of the Meeting, if necessary or
      appropriate, to solicit additional proxies, in the event
       that there are not sufficient votes at the time of such
       adjournment to approve any of Proposal Nos. 1 through 3.

                  About Pressure Biosciences

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

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

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

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


QUEST VENTURES: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Quest Ventures, Ltd.
        98 Silas Carter Road
        Manorville, NY 11949

Case No.: 15-75499

Chapter 11 Petition Date: December 23, 2015

Court: United States Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Hon. Robert E. Grossman

Debtor's Counsel: Steven G Pinks, Esq.
                  PINKS, ARBEIT & NEMETH, ESQS.
                  140 Fell Court
                  Hauppauge, NY 11788
                  Tel: (631) 234-4400
                  Fax: (631) 234-4445
                  Email: steven@pinksarbeit.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Salvatore Guerrera, president.

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


RDIO INC: Selects Pandora's $75M Bid as Best in Chapter 11 Sale
---------------------------------------------------------------
Daniel Siegal at Bankruptcy Law360 reported that defunct music
streaming service Rdio has asked the California bankruptcy judge
overseeing its Chapter 11 proceedings to sign off on its
$75 million asset sale to rival streaming service Pandora, telling
the judge that it couldn't find any better offers.

On Dec. 16, 2015, Rdio Inc. filed a notice of successful bidder
with U.S. Bankruptcy Judge Dennis Montali stating that it was
canceling the auction it had planned for Dec. 18, because it could
not find any prospective bidders who were willing to beat Pandora
Media Inc.

                        About Rdio, Inc.

Rdio, Inc., was founded in 2008 as a digital music service.  The
business operations were launched in 2010 after Rdio secured all of
the major record label rights.  Since that time, Rdio has strived
to grow into a world wide music service, and today is in
approximately 86 countries.

Rdio, Inc., filed Chapter 11 bankruptcy petition (Bankr. N.D.
Calif. Case No. 15-31430) on Nov. 16, 2015, with a deal in place to
sell the company to Pandora Media.  The petition was signed by
Elliott Peters as senior vice president.  Judge Dennis Montali has
been assigned the case.

The Debtor estimated assets in the range of $50 million to $100
million and liabilities of more than $100 million.  

Levene, Neale, Bender, Yoo & Brill LLP serves as the Debtor's
counsel.


SAFE & SECURE: Court Dismisses Chapter 11 Bankruptcy Case
---------------------------------------------------------
The U.S. Bankruptcy Court dismissed Safe & Secure Self Storage,
L.L.C.'s Chapter 11 case on Dec. 7, 2015.

Hugh R. Morley at NorthJersey.com reports that the case was
dismissed as foreclosure advanced on behalf of Safe & Secure.

NorthJersey.com relates that at issue in the case was the debt on a
$25 million mortgage granted in 2003 to Central Bergen Properties,
in connection with a 1.1 million-square-foot Lanza Avenue, Garfield
warehouse that the company bought in 1983.  The report says that
the 2003 mortgage was secured by property leases and rental
agreements, including one with Safe & Secure, which rented space
from Central Bergen.

Court papers show that the legal battle began when the mortgage
went into default after its maturity date in January 2014 with $15
million remaining unpaid, which prompted the mortgage holder, Wells
Fargo, to file the foreclosure action.  NorthJersey.com states that
a court-appointed receiver in that case filed suit against Safe &
Secure, claiming that the company owed $9.5 million in back rent
that should have gone to pay off the mortgage.

                      About Safe & Secure

Headquartered in Garfield, New Jersey, Safe & Secure Self Storage,
L.L.C., filed for Chapter 11 bankruptcy protection (Bankr. D. N.J.
Case No. 15-30154) on Oct. 27, 2015, estimating its assets at up to
$50,000 and its liabilities at between $10 million and $50 million.
The petition was signed by Anthony V. Pugliese, III, sole
manager.

Judge Stacey L. Meisel presides over the case.

Paul R. DeFilippo, Esq., at Wollmuth Maher & Deutsch LLP serves as
the Company's bankruptcy counsel.


SAMUEL E. WYLY: To Fight $2-Bil. Tax Bill at January Trial
----------------------------------------------------------
Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reported that the battle between Texas ex-billionaire Sam Wyly and
the Internal Revenue Service, which says he owes more than $2
billion in unpaid taxes and fraud penalties, will unfold at a trial
next month in front of a bankruptcy judge who has the power to
determine how much Mr. Wyly should pay.

According to the report, lawyers for federal tax collectors argued
in a 148-page brief that Mr. Wyly and his brother's wife shouldn't
be able to dodge the majority of their tax debt using bankruptcy,
arguing that their cases involve "one of the largest tax frauds in
the history of the United States."

                         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).


SAN BERNARDINO, CA: Judge Rejects City's Bankruptcy Proposal
------------------------------------------------------------
Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reported that a federal judge said San Bernardino's leaders need to
explain their plan to have the southern California city exit
bankruptcy protection by repaying a fraction of its debts instead
of raising taxes.

According to the report, U.S. Bankruptcy Judge Meredith Jury on
Dec. 23 rejected -- for a second time -- the city's proposal to cut
debts, saying it didn't contain enough information for bondholders,
retirees who face health-care cuts and others to vote on the
proposal.  She agreed to consider another draft of the plan at a
March 9 hearing in U.S. Bankruptcy Court in Riverside, Calif., the
report related.

                     About San Bernardino

San Bernardino, California, filed an emergency petition for
municipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code
(Bankr. C.D. Cal. Case No. 12-28006) on Aug. 1, 2012.  San
Bernardino, a city of about 210,000 residents roughly 65 miles
(104
km) east of Los Angeles, estimated assets and debt of more than $1
billion in the bare-bones bankruptcy petition.

The city council voted on July 10, 2012, to file for bankruptcy.
The move lets San Bernardino bypass state-required mediation with
creditors and proceed directly to U.S. Bankruptcy Court.

The city is represented that Paul R. Glassman, Esq., at Stradling
Yocca Carlson & Rauth.

San Bernardino joined two other California cities in bankruptcy:
Stockton, an agricultural center of 292,000 east of San Francisco,
and Mammoth Lakes, a mountain resort town of 8,200 south of
Yosemite National Park.

The City was granted Chapter 9 protection on Aug. 28, 2013.

The City filed on May 14, 2015, a Plan to exit court protection.
The Plan proposes to some bondholders a penny on the dollar but
maintains pension benefits for retired city workers.  The Plan
proposes to make full payments into the pension fund run by
California Public Employees' Retirement System.


SELECT MEDICAL: Moody's Affirms B1 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service lowered the Speculative Grade Liquidity
Rating of Select Medical Holdings Corporation to SGL-4 from SGL-3.
Concurrently, Moody's affirmed the company's existing ratings,
including the B1 Corporate Family Rating and B1-PD Probability of
Default Rating.  The rating outlook is stable.

The lowering of Select's Speculative Grade Liquidity Rating to
SGL-4 reflects Moody's view that the company's liquidity position
has weakened due to the near term maturity of a portion of its term
loans.  Following a recent amendment to the company's credit
agreement, Select will still face the maturity of $221 million of
term loan in December 2016.  Moody's believes that Select will have
to rely on its revolver to fund a portion of the maturity if the
term loan has not been refinanced by the maturity date.

The affirmation of Select's B1 Corporate Family Rating reflects
Moody's expectation that headwinds due to reimbursement changes to
long term acute care hospitals (LTCHs) can be absorbed without
significant detriment to Select's credit metrics.  Mitigating some
of the negative impact in Select's LTCH business line is the
expectation of continued growth of the company's inpatient
rehabilitation facility business and improvement in the margins of
Concentra.  The rating and stable outlook also reflect Moody's
expectation that the company will refrain from material share
repurchases or a return to dividend distributions prior to reducing
leverage taken on to fund the acquisition of a controlling interest
in Concentra.

The following is a summary of Moody's rating actions:

Ratings lowered:

  Speculative Grade Liquidity Rating to SGL-4 from SGL-3

Ratings affirmed:

  Select Medical Holdings Corporation:
  Corporate Family Rating at B1
  Probability of Default Rating at B1-PD

Select Medical Corporation:

  Senior secured debt at Ba2 (LGD-2)
  Senior unsecured debt at B3 (LGD-5)

RATINGS RATIONALE

Select's B1 Corporate Family Rating reflects Moody's view that the
company will continue to focus on reducing its considerable
leverage through margin expansion of the recently acquired
Concentra business and the maturation of recently opened specialty
hospitals.  The rating also reflects risks associated with Select's
continued concentration on the specialty hospital segment for the
majority of its EBITDA, which relies predominantly on the Medicare
program as a source of revenue.  Supporting the rating is Moody's
consideration of Select's significant scale and position as one of
the largest LTCH operators and outpatient rehabilitation providers
in the US.

The stable rating outlook reflects Moody's expectation that Select
can reduce leverage through EBITDA growth despite near term
headwinds from the introduction of patient criteria that will
impact volumes and revenue at the company's LTCHs.  Moody's also
anticipates that the company will remain disciplined on shareholder
initiatives until leverage is reduced, including the continued
suspension of dividends.

The Speculative Grade Liquidity Rating of SGL-4 reflects Moody's
expectation that the company will have weak liquidity over the next
12 to 18 months.  Moody's does not expect that Select will generate
sufficient free cash flow to fully fund the upcoming maturity of
$221 million of term loan in December 2016.  However, a combination
of available cash and revolver should allow the company to address
the maturing term loan if it is not refinanced. Further, a recent
amendment relaxed the required leverage covenant, which will
provide additional cushion as the company deals with reimbursement
changes in the near term.

The ratings could be upgraded if Moody's expects the company to
maintain debt/EBITDA below 4.0 times either through debt repayment
or EBITDA growth.  Additionally, Moody's would have to be
comfortable that the current operations could absorb negative
regulatory developments at the higher rating level.  The company
would also have to improve its liquidity position.

Moody's could downgrade the ratings if adverse developments in
Medicare regulations or reimbursement result in significant
deterioration in margins or cash flow coverage metrics.  The
ratings could also be downgraded if the company completes a
material debt financed acquisition, shareholder distribution or
share repurchase, such that debt to EBITDA is expected to be
sustained above 5.0 times.  The ratings could also be downgraded if
the company's liquidity deteriorates or if the upcoming maturity of
a portion of its term loan is not addressed.

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

Select Medical Holdings Corporation is the parent company of Select
Medical Corporation.  Headquartered in Mechanicsburg, PA, Select
provides long-term acute care hospital services and inpatient acute
rehabilitative care through its specialty hospital segment.  The
company also provides physical, occupational, and speech
rehabilitation services through its outpatient rehabilitation
segment.  Through the joint venture partnership with affiliates of
Welsh, Carson, Anderson & Stowe, the company is also a majority
interest owner of MJ Acquisition Corporation, the direct parent of
Concentra Inc.  Concentra's services include workers' compensation
injury care, physical exams and drug testing for employers, and
wellness and preventative care in approximately 300 centers across
the US and 174 clinics at employer locations. On a pro forma basis
for the recently acquired business of Concentra, Select's
consolidated revenue for the twelve months ended Sept. 30, 2015,
was in excess of $4.0 billion.



SHORELINE ENERGY: Files Bankruptcy Petition, Jan. 20 Meeting Set
----------------------------------------------------------------
Shoreline Energy Corp. disclosed that it has filed an assignment
under section 49 of the Bankruptcy and Insolvency Act (Canada) on
December 23.  Pursuant to the Assignment, Grant Thornton Limited
was appointed as the bankruptcy trustee.  In addition, all of the
directors and officers of the Company have resigned effective
immediately.  In accordance with the assignment the Trustee will to
send to all creditors a notice of the bankruptcy within five days.
In addition, when applicable, the Trustee will call in the
prescribed manner a first meeting of creditors, to be held at
January 20, 2016, 10:00 a.m., Main Floor, 833 - 4th Avenue SW,
Calgary, Alberta, or at any other time and place that may be later
requested by the official receiver.

                   About Shoreline Energy Corp.

Shoreline is a Calgary, Alberta based corporation engaged in the
exploration, development and production of petroleum and natural
gas and is currently operating under the Companies' Creditors
Arrangement Act (Canada).


SIGA TECHNOLOGIES: Del. Supreme Court Affirms PharmAthene Damages
-----------------------------------------------------------------
PharmAthene, Inc., on Dec. 24 disclosed that the Delaware Supreme
Court affirmed the Delaware Court of Chancery's decision to award
PharmAthene lump sum expectation damages for the value of
PharmAthene's lost profits for SIGA's smallpox antiviral,
Tecovirimat.  The Delaware Court of Chancery awarded PharmAthene
$113 million in expectation damages plus interest and other costs,
which if calculated based on the original decision (and including
post-judgment interest) would provide for an estimated total of
approximately $205 million.  PharmAthene's ability to collect a
monetary judgment, including post-petition interest, from SIGA
remains subject to further proceedings in the Federal Bankruptcy
Court.  SIGA has filed a reorganization plan with the Court that
provides for among other things, the process by which PharmAthene's
judgment may be satisfied, but that plan has not been approved by
the Bankruptcy Court and remains subject to change, withdrawal or
rejection by the Court.

A copy of the Delaware Supreme Court decision is available at:

   http://courts.delaware.gov/opinions/download.aspx?ID=234170

                      About PharmAthene

PharmAthene is a biodefense company engaged in the development of
next generation medical countermeasures against biological and
chemical threats.  The Company's development portfolio includes two
next generation Anthrax vaccines that are intended to improve
protection while having favorable dosage and storage requirements
compared other Anthrax vaccines.

On January 15, 2015, the Delaware Court of Chancery issued its
Final Order and Judgment in PharmAthene's litigation against SIGA.
The Court of Chancery awarded to PharmAthene lump sum expectation
damages for the value of PharmAthene's lost profits for SIGA's
smallpox antiviral, Tecovirimat, also known as ST-246(R) (formerly
referred to as "Arestvyr(TM)" and referred to by SIGA in its recent
SEC filings as "Tecovirimat").  In addition, the Court of Chancery
ordered SIGA to pay pre-judgment interest and varying percentages
of PharmAthene's reasonable attorneys' and expert witness fees.

                    About SIGA Technologies

Publicly held SIGA Technologies, Inc., with headquarters in Madison
Avenue, New York, is a biotech/pharmaceutical company that
specializes in the development and commercialization of solutions
for serious unmet medical needs and biothreats.  SIGA's lead
product is Tecovirimat, also known as ST-246, an orally
administered antiviral drug that targets orthopoxviruses.

SIGA sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case
No. 14-12623) on Sept. 16, 2014, in Manhattan.  The case is
assigned to Judge Sean H. Lane.

The Debtor has tapped Weil, Gotshal & Manges LLP, as counsel, and
Prime Clerk LLC as claims agent.

The Debtor's Chapter 11 plan and disclosure statement are due May
14, 2015.

The Debtor disclosed total assets of $131,669,746 and $7,954,645 in
liabilities as of the Chapter 11 filing.

The Statutory Creditors' Committee is represented by Martin J.
Bienenstock, Esq., Scott K. Rutsky, Esq., and Ehud Barak, Esq., at
Proskauer Rose LLP.  The Committee tapped to retain Guggenheim
Securities, LLC, as its financial advisor and investment banker.


SIMON WORLDWIDE: Board Approves Company Dissolution
---------------------------------------------------
At a meeting held on Dec. 22, 2015, the Board of Directors of Simon
Worldwide, Inc. unanimously approved the following actions, and
authorized and directed a special meeting of the Company's
shareholders be held to approve these actions:

   * the transfer of all or substantially all of the Company's
     assets in accordance with, and the Company's execution and
     delivery of, a trust agreement and assignment for the benefit
     of creditors, that upon execution provides for the assignment

     of all of the Company's assets to a trust so the
     trustee/assignee may orderly liquidate the assets and
     distribute any proceeds therefrom to creditors of the
     Company;

   * a plan of dissolution of the Company, including the
     liquidation and dissolution of the Company contemplated
     thereby; and

   * a certificate of amendment to the Company's Restated
     Certificate of Incorporation to (i) eliminate the classified
     nature of the Board, reduce the minimum and maximum number of

     directors serving on the Board, and modify the requirements
     for electing, removing, or replacing a director and for
     filling any vacancy on the Board, (ii) remove the requirement

     that stockholder actions must be effected at a stockholder
     meeting and may not be effected by written consent, and (iii)

     repeal and remove certain provisions that have already
     terminated in accordance with their terms and that are no
     longer in effect.

The Company expects to mail notices to its stockholders in the next
few weeks containing the date, time and place of the special
meeting (which will not be less than 20 days after the mailing of
the notices), the record date for the meeting, and information
regarding the proposals to be submitted to a vote of the
stockholders at the meeting.  Neither the Company nor the Board
will solicit any proxies in connection with the special meeting or
the proposals to be considered thereat.

In a Schedule 13D/A filed with the Securities and Exchange
Commission on Dec. 23, 2015, Overseas Toys, L.P., which holds
approximately 87.6% of the outstanding shares of the Company's
common stock, has indicated its intent to vote in favor of all of
the foregoing actions to be submitted to a vote of the stockholders
at the special meeting, which vote of the Majority Stockholder is
required and sufficient to approve all such actions.

The Company anticipates that the liquidation of its assets will not
be sufficient to pay all creditor claims and the costs and expenses
of liquidation and dissolution, and accordingly the Company does
not anticipate that any distributions will be made to holders of
its common stock in connection with the liquidation.

Anthony Espiritu, chief financial officer of the Company, filed a
Form 15 with the SEC to voluntarily deregister the Company's common
stock under the Securities Exchange Act of 1934, as amended, and to
suspend the Company's reporting obligations under Section 15(d) of
the Exchange Act, effective immediately.  The filing was authorized
and directed by the Board unanimously at its Dec. 22, 2015,
meeting.

As a result of the Company's filing of a Form 15, the Company will
no longer file quarterly and annual reports, proxy statements,
information statements, or current reports with the SEC, and
information regarding the Company will become less readily
available.  The Company expects that as a result of the filing, its
common stock will cease to be listed on the OTC Markets Group's OTC
Pink Current Information tier.
                   
                      About Simon Worldwide

Based in Los Angeles, Simon Worldwide, Inc. (OTC: SWWI) no longer
has any operating business.  Prior to August 2001, the Company
operated as a multi-national full-service promotional marketing
company, specializing in the design and development of high-impact
promotional products and sales promotions.  At Dec. 31, 2009,
the Company held an investment in Yucaipa AEC Associates, LLC, a
limited liability company that is controlled by the Yucaipa
Companies, a Los Angeles, California based investment firm.
Yucaipa AEC in turn principally held an investment in the common
stock of Source Interlink Companies, a direct-to-retail magazine
distribution and fulfillment company in North America, and a
provider of magazine information and front-end management services
for retailers and a publisher of approximately 75 magazine titles.
Yucaipa AEC held this investment in Source until April 28, 2009,
when Source filed a pre-packaged plan of reorganization under
Chapter 11 of the U.S. Bankruptcy Code.

Simon Worldwide reported a net loss of $6.99 million on $0 of
revenue for the year ended Dec. 31, 2014, compared to a net loss of
$3.63 million on $0 of revenue for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $626,000 in total assets,
$77,000 in total liabilities, all current and $549,000 in total
stockholders' equity.


STANDARD REGISTER: Plan of Liquidation Declared Effective
---------------------------------------------------------
BankruptcyData reported that Standard Register's Second Amended
Chapter 11 Plan of Liquidation (with technical modifications)
became effective, and the Company emerged from Chapter 11
protection.

The Court confirmed the Plan on Nov. 19, 2015.  The consolidated
Plan contemplates the substantive consolidation of the Debtors for
distribution purposes, liquidation of the remaining assets of the
Debtors and distribution of such assets to the Debtors' creditors.

As previously reported, "The Debtors will, (a) satisfy Claims in
whole or in part by the transfer of all or any portion of the
Assets securing Claims or (b) at the election of the Second Lien
Agent made on or before the Effective Date and with the consent of
the Debtors (i) reinstate such Claims in full...provided that the
Committee's consent shall be required for such reinstatement if the
Creditor has any Secured Claim against Liquidating SRC or the GUC
Trust, (ii) pay such Claims in Cash up to the Allowed amount of
such Claims, (iii) begin to make deferred Cash payments having a
present value on the Effective Date equal to the Allowed amount of
such Claims, or (iv) treat such Claims in a manner that would
provide the 'indubitable equivalent' of such Claims; and, with
respect to Other Secured Claims that are not Allowed as of the
Effective Date, the collateral securing such Other Secured Claim,
will be set aside on the Effective Date and Distributed in
accordance with Section 3.3.2 of the Plan upon Allowance of such
Claim."  On July 31, 2015, Standard Register Company closed on the
sale of substantially all of its assets to Taylor Corporation. This
newspaper publisher filed for Chapter 11 protection on March 12,
2015, listing $481 million in prepetition assets.

                    About Standard Register

Standard Register provides market-specific insights and a
compelling portfolio of workflow, content and analytics solutions
to address the changing business landscape in healthcare,
financial services, manufacturing and retail markets.  The Company
has operations in all U.S. states and Puerto Rico, and currently
employs 3,500 full-time employees and 16 part-time employees.

The Standard Register Company and 10 affiliated debtors sought
Chapter 11 protection in Delaware on March 12, 2015, with plans to
launch a sale process where its largest secured lender would serve
as stalking horse bidder in an auction.

The cases are pending before the Honorable Judge Brendan L.
Shannon and are jointly administered under Case No. 15-10541.

The Debtors have tapped Gibson, Dunn & Crutcher LLP and Young
Conaway Stargatt & Taylor LLP as counsel; McKinsey Recovery &
Transformation Services U.S., LLC, as restructuring advisors; and
Prime Clerk LLC as claims agent.

The Official Committee of Unsecured Creditors tapped Lowenstein
Sandler LLP as its counsel and Jefferies LLC as its exclusive
investment banker.


TAMARA MELLON: Has Court's Nod to Obtain $10M Financing From NEA
----------------------------------------------------------------
Maria Bobila, writing for Fashionista.com, reports that the Hon.
Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware granted Tamara Mellon Brand, LLC, on Dec. 23, 2015,
authorization to obtain financing.

Luxurydaily.com states that the Company has partnered with venture
firm New Enterprise Associates 15 LP, among other lenders, to
reestablish the brand.  According to Peter Evans at The Sunday
Times, the Company has been thrown a $10 million lifeline by U.S.
private equity firm NEA.  Sunday Times explains that NEA will
provide $10 million of a $14 million cash injection -- part of a
proposed reorganization plan.  The report adds that Tamara Mellon
herself will invest $2 million and other existing and new investors
will provide the remaining $2 million.

Luxurydaily.com relates that New Enterprise will own 31.1% of the
Company while Ms. Mellon will own slightly more than 16%, plus
warrants and options.

Luxurydaily.com says that the court order also allowed the Company
to enter an accord with Hilldun Corporation.

The Company wants to get back to business by Jan. 15, 2016,
Fashionista.com relates, citing a spokesperson for the brand.

                          Tamara Mellon

Tamara Mellon Brand, LLC, is headquartered in New York, New York.
Tamara Mellon is a Jimmy Choo co-founder.  Ms. Mellon set up her
eponymous label in 2013, after severing ties with Jimmy Choo.

The Company filed for Chapter 11 bankruptcy protection (Bankr. D.
Del. Case No. 15-12420) on Dec. 2, 2015, estimating its assets and
liabilities at $1 million and $10 million each.  The petition was
signed by Tamara Mellon, CEO.

Derek C. Abbott, Esq., and Daniel B. Butz, Esq., at Morris,
Nichols, Arsht & Tunnell LLP serve as the Company's bankruptcy
counsel.


TRANS-LUX CORP: Completed Exchange Agreements with Noteholders
--------------------------------------------------------------
Trans-Lux Corporation consummated a transaction contemplated by
Exchange Agreements dated as of Dec. 15, 2015.  The Exchange
Agreements were with 14 holders of the Company's 8 1/4% Limited
Convertible Senior Series Subordinated Notes due 2012.

The Exchange Agreements provided that an aggregate of $457,000 of
principal under the Notes would be exchanged for an aggregate of
$228,500 and an aggregate of 38,082 shares of the Company's Common
Stock, $.001 par value per share.  As part of the Exchange
Agreements, all of the Company's remaining obligations under the
Exchanged Notes, including the payment of interest, were
terminated.  The Exchange Agreements also provide the Note Holders
with piggyback registration rights with respect to the resale of
the shares of Common Stock that they received under the Exchange
Agreements.

The Company issued 38,082 shares of Common Stock in connection with
the Exchange Agreements.  Those shares were issued pursuant to the
exemption provided under Section 4(2) promulgated under the
Securities Act of 1933, as amended.

                    About Trans-Lux Corporation

Norwalk, Conn.-based Trans-Lux Corporation (NYSE Amex: TLX) is a
designer and manufacturer of digital signage display solutions for
the financial, sports and entertainment, gaming and leasing
markets.

Trans-Lux Corporation incurred a net loss of $4.62 million on $24.4
million of total revenue for the year ended Dec. 31, 2014, compared
with a net loss of $1.86 million on $20.9 million of total revenue
for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $15.4 million in total
assets, $18.6 million in total liabilities and a total
stockholders' deficit of $3.24 million.

BDO USA, LLP, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that the Company has suffered recurring losses from
operations and has a significant working capital deficiency that
raise substantial doubt about its ability to continue as a going
concern.  Further, the auditors said, the Company is in default of
the indenture agreements governing its outstanding 9-1/2%
Subordinated debentures which were due in 2012 and its 8-1/4%
Limited convertible senior subordinated notes which were due in
2012 so that the trustees or holders of 25% of the outstanding
Debentures and Notes have the right to demand payment immediately.
Additionally, the Company has a significant amount due to their
pension plan over the next 12 months.


WESTMORELAND COAL: Targets Jan. 31 San Juan Acquisition Date
------------------------------------------------------------
Westmoreland Coal Company announced that the parties involved in
the Company acquisition of all of the issued and outstanding
capital stock of San Juan Coal Company and San Juan Transportation
Corporation from BHP Billiton New Mexico Coal, Inc., are targeting
Jan. 31, 2016, for the closing of the San Juan Acquisition, rather
than the previously announced target closing date of Dec. 31, 2015.


On Dec. 16, 2015, the New Mexico Public Regulation Commission
issued the approval that was a condition to closing the San Juan
Acquisition, allowing the parties to begin taking final measures
required to consummate the San Juan Acquisition and transition the
business.

                     About Westmoreland Coal

Colorado Springs, Colo.-based Westmoreland Coal Company (NYSE
AMEX: WLB) -- http://www.westmoreland.com/-- is the oldest      
independent coal company in the United States.  The Company's coal
operations include coal mining in the Powder River Basin in
Montana and lignite mining operations in Montana, North Dakota and
Texas.  Its power operations include ownership of the two-unit
ROVA coal-fired power plant in North Carolina.

Westmoreland Coal Company reported a net loss applicable to common
shareholders of $173 million in 2014, a net loss applicable to
common shareholders of $6.05 million in 2013 and a net loss
applicable to common shareholders of $8.58 million in 2012.

As of Sept. 30, 2015, the Company had $1.72 billion in total
assets, $2.21 billion in total liabilities and a $489 million total
deficit.

                            *     *     *

As reported by the TCR on Nov. 20, 2014, Standard & Poor's Rating
Services raised its corporate credit rating on Westmoreland Coal
Co. one-notch to 'B' from 'B-'.  "The stable outlook is supported
by Westmoreland's committed sales position over the next year,
which should result in stable cash flows," said Standard & Poor's
credit analyst Chiza Vitta.

Moody's upgraded the corporate family rating (CFR) of Westmoreland
Coal Company to 'B3' from 'Caa1', and assigned 'Caa1' rating to the
company's proposed new $300 million First Lien Term Loan, the TCR
reported on Nov. 20, 2014.  The upgrade of the CFR reflects the
company's successful integration of the Canadian mines acquired in
April 2014, and Moody's expectation that the company's Debt/ EBITDA
will track at around 5x in 2015 and 2016 and that the company will
be break-even to modestly free cash flow positive over the same
time period.


WET SEAL: Seal123 Deregisters Unsold Shares
-------------------------------------------
Seal123, Inc., formerly Wet Seal, Inc., filed with the U.S.
Securities and Exchange Commission several Post-Effective Amendment
No. 1 documents to remove from registration all shares of the
Company's Class A Common Stock, par value $0.10 per share
registered under these Registration Statements on Form S-3 and on
Form S-8:

     -- Registration Statement on Form S-3 (File No. 333-195566)
filed by the Company with the Securities and Exchange Commission
(the "SEC") on April 29, 2014, registering 28,614,131 shares of
Common Stock for issuance in connection with a private placement by
the Company.

     -- Registration Statement on Form S-8 (File No. 333130007)
filed by the Company with the Securities and Exchange Commission
(the "SEC") on November 30, 2005 registering 12,500,000 shares of
Common Stock for issuance under The Wet Seal, Inc. 2005 Stock
Incentive Plan.

     -- Registration Statement on Form S-8 (File No. 33331813)
filed by the Company with the Securities and Exchange Commission
(the "SEC") on July 22, 1997, and as amended on March 17, 1999 and
April 30, 1999, registering 1,650,000 shares of Common Stock for
issuance under The Wet Seal, Inc. 1996 Long-Term Incentive Plan.

     -- Registration Statement on Form S-8 (File No. 333173253)
filed by the Company with the Securities and Exchange Commission
(the "SEC") on April 1, 2011 registering 5,000,000 shares of Common
Stock for issuance under The Wet Seal, Inc. Amended and Restated
2005 Stock Incentive Plan.    

     -- Registration Statement on Form S-8 (File No. 333153474)
filed by the Company with the Securities and Exchange Commission
(the "SEC") on September 12, 2008 registering 500,000 shares of
Common Stock for issuance under the Performance Share and
Restricted Share Award Agreement, dated as of October 8, 2007, by
and between The Wet Seal, Inc. and Edmond S. Thomas.

The Company received notification from the Listing Qualifications
Staff (the "Staff") of The NASDAQ Stock Market LLC ("NASDAQ")
indicating that the Company was not in compliance with certain of
the requirements for continued listing on The NASDAQ Global Market.
Thereafter, by letter dated January 27, 2015, the Staff notified
the Company that the Staff's determination to delist the Company's
securities from NASDAQ became final, because the Company did not
appeal the Staff's initial determination. The delisting was
effective with the open of business on March 9, 2015. Following
delisting, the Common Stock traded on the OTC Markets' OTC Pink
Tier under the ticker symbol "WTSL."

Pursuant to the First Amended Joint Plan of Liquidation of Seal123,
Inc. and Subsidiary Debtors and Their Official Committee of
Unsecured Creditors of the Company and certain of its affiliates,
which was filed pursuant to Chapter 11 of the Bankruptcy Code, and
which, pursuant to Chapter 11 of the Bankruptcy Code, was confirmed
by an order, entered October 30, 2015 by the United States
Bankruptcy Court for the District of Delaware, all previously
issued Common Stock of the Company will be discharged, cancelled,
released and extinguished as of the December 31, 2015 effective
date of the Plan.

Effective upon the Effective Date of the Plan, the Company removed
from registration all shares of Common Stock registered under the
Registration Statements that remain unsold as of the Effective Date
of the Plan.


WRIGHTWOOD GUEST RANCH: Hires Drummond & Assoc as Special Counsel
-----------------------------------------------------------------
Wrightwood Guest Ranch, LLC seeks authorization from the Hon. Scott
C. Clarkson of the U.S. Bankruptcy Court for the Central District
of California to employ Drummond & Associates as special counsel
for the Greenlake Real Estate Fund, LLC litigation.

Drummond & Associates will be paid at these hourly rates:

       Donald F. Drummond         $425
       Bridget B. Laurent         $400

Drummond & Associates will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Donald F. Drummond, attorney and owner of Drummond & Associates,
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.

Drummond & Associates can be reached at:

       Donald F. Drummond, Esq.
       DRUMMOND & ASSOCIATES
       One California Street, Suite 300
       San Francisco, CA 94111
       Tel: (415) 433-2261
       Fax: (415) 438-9819
       E-mail: buldogdrum@drummondlaw.net

Masterpiece Marketing, Larry Rundle, and Snyder Dorenfeld, filed an
involuntary petition against Wrightwood Guest Ranch LLC (Bankr.
C.D. Calif., Case No. 15-17799) on Aug. 5, 2015.  The case is
assigned to Judge Scott C. Clarkson.  The Petitioners' counsel is
Douglas A Plazak, Esq., at Reid & Hellyer, APC, in Riverside,
California.

The Bankruptcy Court later granted Wrightwood Guest Ranch's request
for relief under Chapter 11 and vacated the Involuntary Petition
filed against the Debtor.


WRIGHTWOOD GUEST RANCH: Reid & Hellyer Okayed as Panel's Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Wrightwood Guest
Ranch, LLC sought and obtained permission from the Hon. Mark Houle
of the U.S. Bankruptcy Court for the Central District of California
to retain Reid & Hellyer as general counsel, retroactive to October
5, 2015.

The Committee requires Reid & Hellyer to provide legal assistance
concerning:

   (a) negotiation of, evaluation of and participation in the
       formulation of and if warranted, possible objections to the

       plan and disclosure statement of the Debtor;

   (b) evaluation of any offers to purchase assets of the Debtor;

   (c) consultation with the Debtor concerning the administration
       of the case;

   (d) investigation of the acts, conduct, assets, liabilities and

       financial condition of the Debtor and the desirability of
       the continuation of such operations and any other matter
       relevant to the case or the formulation of a plan;

   (e) investigation of claims of insiders and possible equity
       contributions and the filing of objections or motions to
       seek subordination if warranted; and

   (f) investigation of any transfers which might be avoidable as
       preferences or fraudulent transfer.

Reid & Hellyer will be paid at these hourly rates:

       David G. Moore                  $425
       James J. Manning                $350
       Michael G. Kerbs                $350
       Daniel E. Katz                  $375
       Douglas A. Plazak               $375
       Mark C. Schnitzer               $450
       Thomas L. Miller                $325
       Stanley A. Harter               $375
       Scott Talkov                    $300
       Alexander C. Payne              $260
       Shannon D. Duane                $260
       Pietro E. Canestrelli           $300
       Eric K. Dodd                    $260
       Stacy M. Velasco                $180
       Michele L. Paplanus             $180
       Wendy M. Patrick                $180
       Lisa A. Martinez                $180
       Kathleen M. Bradford            $75

Reid & Hellyer will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Douglas A. Plazak, partner of Reid & Hellyer, 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.

Reid & Hellyer can be reached at:

       Douglas A. Plazak, Esq.
       REID & HELLYER
       3880 Lemon Street, 5th Floor,
       Riverside, CA 92501
       Tel: (951) 682-1771
       Fax: (951) 686-2415
       E-mail: dplazak@rhlaw.com

Masterpiece Marketing, Larry Rundle, and Snyder Dorenfeld, filed an
involuntary petition against Wrightwood Guest Ranch LLC (Bankr.
C.D. Calif., Case No. 15-17799) on Aug. 5, 2015.  The case is
assigned to Judge Scott C. Clarkson.  The Petitioners' counsel is
Douglas A Plazak, Esq., at Reid & Hellyer, APC, in Riverside,
California.

The Bankruptcy Court later granted Wrightwood Guest Ranch's request
for relief under Chapter 11 and vacated the Involuntary Petition
filed against the Debtor.


ZLOOP INC: Hires Keen-Summit as Real Estate Consultant & Advisor
----------------------------------------------------------------
ZLOOP, Inc., et al., seek authorization from the U.S. Bankruptcy
Court for the District of Delaware to employ Keen-Summit Capital
Partners LLC as real estate consultant and advisor to the Debtors.

They also ask the Court to modify a prior order authorizing them to
employ Miller Industrial Properties, LLC as real estate broker.

On September 17, 2015, the Court entered the Miller Order. To date
and despite Miller's pre-petition and post-petition efforts,
Miller's efforts have not resulted in the Debtors' receipt of any
offers to purchase the Fernley, NV real estate.

The Debtors have determined that Keen-Summit's services will
substantially enhance their attempts to maximize the value of the
sale of the Property, and in the future the Debtors may elect to
have Keen perform services related to their other real estate
assets.

The Debtors require Keen-Summit to perform these services:

   (a) meeting with Debtors' representatives to ascertain the
       Debtors' goals, objectives and financial parameters;

   (b) negotiating the sale or other disposition of the Property,
       including preparing and implementing a marketing plan and
       assisting the Debtors at any auctions of the Property, if
       needed;

   (c) directing the activities of Miller; and

   (d) reporting periodically to the Debtors and Committee
       regarding the status of their marketing efforts and
       negotiations.

The term of the Services Agreement shall be through the closing of
all Transactions contemplated thereby or for a period of nine
months, whichever comes first.

Following the expiration of the term of the Services Agreement
without the consummation of the sale of or other Transaction
involving the Property, Keen-Summit will retain certain rights to a
Fee, and Miller may regain its exclusive right to broker the
Property, consistent with the terms of the Services Agreement.

As and when the Debtor closes a Transaction, whether the
Transaction is completed individually or as part of a package or as
part of a sale of all or a portion of Debtor's business or as part
of a plan of reorganization or as a stalking horse transaction or
as part of a private sale or auction, or an investment into Company
then Keen-Summit shall have earned compensation Transaction equal
to 5.5% of Gross Proceeds, with Keen-Summit retaining 4% of such
fee and Miller retaining 1.5% of such fee. Miller will also provide
to Company and Keen-Summit one prior prospect that it has been
working with. If the Prior Prospect closes a Transaction under this
Agreement then Keen agrees to share 2.625% of its Transaction Fee
with Miller.

Keen-Summit will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Matthew Bordwin, principal and managing director of Keen-Summit,
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.

Keen-Summit can be reached at:

       Matthew Bordwin
       Keen-Summit Capital Partners LLC
       1 Huntington Quad Ste 2C04
       Melville, NY 11747-4424
       Tel: (646) 381-9202
       E-mail: mbordwin@keen-summit.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.


[*] Court Won't Sink Defamation Claims vs. Porzio Attorney
----------------------------------------------------------
Jeannie O'Sullivan at Bankruptcy Law360 reported that a New Jersey
judge refused to sink a claim that a Porzio Bromberg & Newman PC
attorney accused a former client of extortion in a drunken email
copied to dozens of recipients, ruling that a dollar amount wasn't
required to support a reputational harm accusation.

In denying summary judgment to Porzio Bromberg and firm principal
Warren Martin Jr. earlier this month, Bergen County Superior Court
Judge Charles Powers Jr. cited case law debunking their arguments
that the client couldn't prove special or general damages.


[*] Huron Bags M&A's 2015 Restructuring Deal of the Year Award
--------------------------------------------------------------
The M&A Advisor selected Huron Business Advisory as the 2015
Restructuring Deal of the Year Award
($25M - $50M) for Lee Steel Corporation.

Lee Steel was a top-tier service center, providing a full range of
flat rolled steel primarily to tier 1 and tier 2 automotive
suppliers.  The restructuring occurred via a chapter 11 process
that involved a collaborative effort between Huron Business
Advisory's restructuring and turnaround and investment banking
teams.  At filing, secured debt was approximately $50 million and
Huron effectuated a full recovery for Huntington and administrative
claimants through cash generated from operations resulting from
cost reductions and working capital enhancements, coupled with the
sale of the business which generated proceeds of $39.1 million.

The awards will be presented at the 2016 M&A Advisor Distressed
Investing Summit on Thursday, January 28th at the Colony Hotel,
Palm Beach, FL.

Huron congratulates its colleagues at Dickinson Wright, The Dragich
Law Firm PLLC, EPIQ Systems, Inc., Hilco, Huntington National Bank,
McDonald Hopkins LLC, Pepper Hamilton, PNC Bank, Stahl Cowen, Union
Partners, Wolfson Bolton PLLC, and Huron employees Laura Marcero,
Jamie Lisac, Matt Fisher, Matt Kazin,
Ken Fontaine, and Breann Shrock-Kueber for making an impact and
achieving this recognition.


[*] Lender Discrimination May Be Hurting Black Churches, Study Says
-------------------------------------------------------------------
Pittsburgh Post-Gazette reports that a paper by Pamela Foohey, an
associate professor at the Indiana University Maurer School of Law,
suggests that financial discrimination may be hurting black
churches.  

The study, according to Post-Gazette, states that of the 654
religious congregations to file for Chapter 11 bankruptcy
protection between 2006 and 2013, 60% had black pastors or
predominantly black membership.

Citing Ms. Foohey, Patrick Clark at Bloomberg News relates that the
large number of reorganizations may be the result of black
churches' paying higher rates for real estate loans, including
"balloon, step increase, and other 'weird' mortgages -- the
equivalent of subprime loans."  The report adds that creditors may
be less lenient with black churches, insisting on Chapter 11 to
modify loans that other church borrowers might seek to modify
through informal negotiations.


[*] New York Judge Axes Scarinci Hollenbeck Malpractice Suit
------------------------------------------------------------
Stewart Bishop at Bankruptcy Law360 reported that a New York judge
on Dec. 18, 2015, threw out a legal malpractice suit against
Scarinci Hollenbeck LLC and another firm brought by a former client
who claimed that the firms botched a bankruptcy court settlement
with her former investment adviser, saying that the client knew the
terms of the deal.

The client, Marjatta Freeman, had hired the Northeast regional law
firm Scarinci Hollenbeck, which in turn retained local Connecticut
counsel Pullman & Comley LLC, to pursue claims in the Chapter 11
bankruptcy of her former financial adviser.


[^] BOND PRICING: For the Week from December 21 to 25, 2015
-----------------------------------------------------------
  Company                     Ticker  Coupon Bid Price   Maturity
  -------                     ------  ------ ---------   --------
99 Cents Only Stores LLC      NDN      11.00     41.00 12/15/2019
A. M. Castle & Co             CAS      12.75     78.00 12/15/2016
A. M. Castle & Co             CAS       7.00     52.02 12/15/2017
A. M. Castle & Co             CAS      12.75     76.25 12/15/2016
A. M. Castle & Co             CAS      12.75     76.25 12/15/2016
ACE Cash Express Inc          AACE     11.00     36.00   2/1/2019
ACE Cash Express Inc          AACE     11.00     33.00   2/1/2019
Affinion Investments LLC      AFFINI   13.50     44.50  8/15/2018
Alpha Appalachia Holdings Inc ANR       3.25      3.00   8/1/2015
Alpha Natural Resources Inc   ANR       6.00      0.20   6/1/2019
Alpha Natural Resources Inc   ANR       9.75      0.50  4/15/2018
Alpha Natural Resources Inc   ANR       6.25      0.20   6/1/2021
Alpha Natural Resources Inc   ANR       7.50      1.00   8/1/2020
Alpha Natural Resources Inc   ANR       4.88      0.50 12/15/2020
Alpha Natural Resources Inc   ANR       3.75      0.50 12/15/2017
Alpha Natural Resources Inc   ANR       7.50      0.87   8/1/2020
Alpha Natural Resources Inc   ANR       7.50      0.87   8/1/2020
Alta Mesa Holdings LP /
  Alta Mesa Finance
  Services Corp               ALTMES    9.63     35.75 10/15/2018
American Eagle Energy Corp    AMZG     11.00      4.95   9/1/2019
American Eagle Energy Corp    AMZG     11.00      5.25   9/1/2019
Apollo Investment Corp        AINV      5.75     98.63  1/15/2016
Appvion Inc                   APPPAP    9.00     40.00   6/1/2020
Appvion Inc                   APPPAP    9.00     39.38   6/1/2020
Arch Coal Inc                 ACI       7.00      0.99  6/15/2019
Arch Coal Inc                 ACI       7.25      0.88  6/15/2021
Arch Coal Inc                 ACI       7.25      0.22  10/1/2020
Arch Coal Inc                 ACI       8.00      4.83  1/15/2019
Arch Coal Inc                 ACI       8.00      5.03  1/15/2019
Atlas Air 1998-1 Class B
  Pass Through Trust          AAWW      7.68    100.00   1/2/2016
Atlas Energy Holdings
  Operating Co LLC / Atlas
  Resource Finance Corp       ARP       7.75     21.67  1/15/2021
Atlas Energy Holdings
  Operating Co LLC / Atlas
  Resource Finance Corp       ARP       9.25     25.56  8/15/2021
Avaya Inc                     AVYA     10.50     33.50   3/1/2021
Avaya Inc                     AVYA     10.50     37.00   3/1/2021
BPZ Resources Inc             BPZR      8.50      7.00  10/1/2017
BPZ Resources Inc             BPZR      6.50      8.00   3/1/2015
BPZ Resources Inc             BPZR      6.50      5.88   3/1/2049
Basic Energy Services Inc     BAS       7.75     31.00  2/15/2019
Berry Petroleum Co LLC        LINE      6.38     23.75  9/15/2022
Berry Petroleum Co LLC        LINE      6.75     22.00  11/1/2020
Black Elk Energy Offshore
  Operations LLC / Black
  Elk Finance Corp            BLELK    13.75      7.00  12/1/2015
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp                BBEP      8.63     20.00 10/15/2020
BreitBurn Energy
  Partners LP / BreitBurn
  Finance Corp                BBEP      7.88     20.05  4/15/2022
Caesars Entertainment
  Operating Co Inc            CZR      10.00     28.88 12/15/2018
Caesars Entertainment
  Operating Co Inc            CZR       6.50     30.25   6/1/2016
Caesars Entertainment
  Operating Co Inc            CZR      12.75     32.00  4/15/2018
Caesars Entertainment
  Operating Co Inc            CZR      10.00     28.25 12/15/2018
Caesars Entertainment
  Operating Co Inc            CZR       5.75     43.00  10/1/2017
Caesars Entertainment
  Operating Co Inc            CZR      10.00     10.00 12/15/2015
Caesars Entertainment
  Operating Co Inc            CZR      10.00     28.63 12/15/2018
Caesars Entertainment
  Operating Co Inc            CZR       5.75     12.25  10/1/2017
Caesars Entertainment
  Operating Co Inc            CZR      10.00     27.88 12/15/2018
Caesars Entertainment
  Operating Co Inc            CZR      10.00     28.63 12/15/2018
Chaparral Energy Inc          CHAPAR    9.88     25.25  10/1/2020
Chaparral Energy Inc          CHAPAR    8.25     24.00   9/1/2021
Chassix Holdings Inc          CHASSX   10.00      8.00 12/15/2018
Chassix Holdings Inc          CHASSX   10.00      8.00 12/15/2018
Checkers Drive-In
  Restaurants Inc             CHKR     11.00    105.25  12/1/2017
Chesapeake Energy Corp        CHK       6.50     48.01  8/15/2017
Chesapeake Energy Corp        CHK       6.63     30.45  8/15/2020
Chesapeake Energy Corp        CHK       3.57     29.51  4/15/2019
Chesapeake Energy Corp        CHK       7.25     40.15 12/15/2018
Chesapeake Energy Corp        CHK       6.13     30.00  2/15/2021
Chesapeake Energy Corp        CHK       2.50     42.55  5/15/2037
Chesapeake Energy Corp        CHK       6.88     27.50 11/15/2020
Chesapeake Energy Corp        CHK       2.25     29.50 12/15/2038
Chesapeake Energy Corp        CHK       2.50     42.50  5/15/2037
Citigroup Inc                 C         2.00    100.01 12/29/2015
Claire's Stores Inc           CLE       7.75     12.88   6/1/2020
Claire's Stores Inc           CLE       8.88     22.00  3/15/2019
Claire's Stores Inc           CLE      10.50     54.10   6/1/2017
Claire's Stores Inc           CLE       7.75     17.50   6/1/2020
Cliffs Natural Resources Inc  CLF       5.95     26.26  1/15/2018
Cliffs Natural Resources Inc  CLF       5.90     19.10  3/15/2020
Cliffs Natural Resources Inc  CLF       4.88     15.93   4/1/2021
Cliffs Natural Resources Inc  CLF       4.80     14.63  10/1/2020
Cliffs Natural Resources Inc  CLF       6.25     16.00  10/1/2040
Cliffs Natural Resources Inc  CLF       7.75     24.00  3/31/2020
Colt Defense LLC /
  Colt Finance Corp           CLTDEF    8.75      4.28 11/15/2017
Colt Defense LLC /
  Colt Finance Corp           CLTDEF    8.75      2.38 11/15/2017
Colt Defense LLC /
  Colt Finance Corp           CLTDEF    8.75      2.38 11/15/2017
Community Choice
  Financial Inc               CCFI     10.75     20.00   5/1/2019
Comstock Resources Inc        CRK       7.75     13.55   4/1/2019
Comstock Resources Inc        CRK       9.50     16.93  6/15/2020
Constellation
  Enterprises LLC             CONENT   10.63     63.25   2/1/2016
Constellation
  Enterprises LLC             CONENT   10.63     63.13   2/1/2016
Cumulus Media Holdings Inc    CMLS      7.75     34.50   5/1/2019
DynCorp International Inc     DCP      10.38     70.37   7/1/2017
EPL Oil & Gas Inc             EXXI      8.25     26.50  2/15/2018
EXCO Resources Inc            XCO       7.50     25.50  9/15/2018
EXCO Resources Inc            XCO       8.50     18.84  4/15/2022
Eagle Rock Energy
  Partners LP / Eagle Rock
  Energy Finance Corp         EROC      8.38     22.33   6/1/2019
Emerald Oil Inc               EOX       2.00     35.50   4/1/2019
Endeavour International Corp  END      12.00      6.00   3/1/2018
Endeavour International Corp  END      12.00      6.00   3/1/2018
Endeavour International Corp  END      12.00      6.00   3/1/2018
Energy & Exploration
  Partners Inc                ENEXPR    8.00      7.25   7/1/2019
Energy & Exploration
  Partners Inc                ENEXPR    8.00      7.25   7/1/2019
Energy Conversion
  Devices Inc                 ENER      3.00      7.88  6/15/2013
Energy Future Holdings Corp   TXU       9.75     36.00 10/15/2019
Energy Future Intermediate
  Holding Co LLC / EFIH
  Finance Inc                 TXU      10.00      2.88  12/1/2020
Energy Future Intermediate
  Holding Co LLC / EFIH
  Finance Inc                 TXU      10.00      2.88  12/1/2020
Energy Future Intermediate
  Holding Co LLC / EFIH
  Finance Inc                 TXU       6.88      2.65  8/15/2017
Energy XXI Gulf Coast Inc     EXXI     11.00     35.75  3/15/2020
Energy XXI Gulf Coast Inc     EXXI      9.25     29.44 12/15/2017
Energy XXI Gulf Coast Inc     EXXI      7.75     14.90  6/15/2019
Energy XXI Gulf Coast Inc     EXXI      7.50     11.55 12/15/2021
Energy XXI Gulf Coast Inc     EXXI      6.88     12.50  3/15/2024
FBOP Corp                     FBOPCP   10.00      1.84  1/15/2009
FairPoint Communications
  Inc/Old                     FRP      13.13      1.88   4/2/2018
Federal Home Loan Banks       FHLB      2.18    100.00 12/29/2020
Fleetwood Enterprises Inc     FLTW     14.00      3.56 12/15/2011
Forbes Energy Services Ltd    FES       9.00     46.55  6/15/2019
GT Advanced Technologies Inc  GTAT      3.00      0.55  10/1/2017
GT Advanced Technologies Inc  GTAT      3.00      0.50 12/15/2020
Gastar Exploration Inc        GST       8.63     52.70  5/15/2018
Genworth Holdings Inc         GNW       8.63    104.21 12/15/2016
Getty Images Inc              GYI       7.00     36.00 10/15/2020
Getty Images Inc              GYI       7.00     31.20 10/15/2020
Goodman Networks Inc          GOODNT   12.13     28.40   7/1/2018
Goodrich Petroleum Corp       GDP       8.88      8.00  3/15/2019
Goodrich Petroleum Corp       GDP       8.88      6.50  3/15/2018
Goodrich Petroleum Corp       GDP       5.00     15.50  10/1/2032
Goodrich Petroleum Corp       GDP       5.00      5.05  10/1/2029
Goodrich Petroleum Corp       GDP       8.88     31.88  3/15/2018
Goodrich Petroleum Corp       GDP       8.88      9.88  3/15/2019
Goodrich Petroleum Corp       GDP       8.88      9.88  3/15/2019
Gymboree Corp/The             GYMB      9.13     20.75  12/1/2018
Halcon Resources Corp         HKUS      9.75     30.25  7/15/2020
Halcon Resources Corp         HKUS      8.88     23.34  5/15/2021
Halcon Resources Corp         HKUS      9.25     31.50  2/15/2022
Hexion Inc                    HXN       9.20     21.00  3/15/2021
Horsehead Holding Corp        ZINC      3.80     24.38   7/1/2017
ION Geophysical Corp          IO        8.13     39.98  5/15/2018
Interactive Network Inc /
  FriendFinder Networks Inc   FFNT     14.00     56.25 12/20/2018
James River Coal Co           JRCC      7.88      1.01   4/1/2019
John Hancock Life
  Insurance Co                MFCCN     4.90    100.06  1/15/2016
Key Energy Services Inc       KEG       6.75     23.90   3/1/2021
Las Vegas Monorail Co         LASVMC    5.50      3.00  7/15/2019
Legacy Reserves LP /
  Legacy Reserves
  Finance Corp                LGCY      8.00     31.59  12/1/2020
Lehman Brothers Holdings Inc  LEH       5.00      5.50   2/7/2009
Lehman Brothers Holdings Inc  LEH       4.00      5.50  4/30/2009
Lehman Brothers Inc           LEH       7.50      3.75   8/1/2026
Linn Energy LLC /
  Linn Energy Finance Corp    LINE      8.63     17.85  4/15/2020
Linn Energy LLC /
  Linn Energy Finance Corp    LINE      6.50     18.75  5/15/2019
Linn Energy LLC /
  Linn Energy Finance Corp    LINE      7.75     16.51   2/1/2021
Linn Energy LLC /
  Linn Energy Finance Corp    LINE      6.25     17.75  11/1/2019
Linn Energy LLC /
  Linn Energy Finance Corp    LINE      6.50     15.10  9/15/2021
Linn Energy LLC /
  Linn Energy Finance Corp    LINE      6.25     16.75  11/1/2019
Linn Energy LLC /
  Linn Energy Finance Corp    LINE      6.25     16.75  11/1/2019
Logan's Roadhouse Inc         LGNS     10.75     44.00 10/15/2017
M/I Homes Inc                 MHO       8.63    101.15 11/15/2018
MF Global Holdings Ltd        MF        3.38     15.05   8/1/2018
MF Global Holdings Ltd        MF        9.00     14.88  6/20/2038
MModal Inc                    MODL     10.75     10.13  8/15/2020
Magnetation LLC /
  Mag Finance Corp            MAGNTN   11.00     12.25  5/15/2018
Magnetation LLC /
  Mag Finance Corp            MAGNTN   11.00     12.25  5/15/2018
Magnetation LLC /
  Mag Finance Corp            MAGNTN   11.00     12.25  5/15/2018
Magnum Hunter Resources Corp  MHRC      9.75     25.00  5/15/2020
Mashantucket Western
  Pequot Tribe                MASHTU    7.35      9.06   7/1/2026
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO      10.75     13.88  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO       9.25     12.75   6/1/2021
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO      10.75     13.25  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC            MPO      10.75     13.25  10/1/2020
Modular Space Corp            MODSPA   10.25     43.13  1/31/2019
Modular Space Corp            MODSPA   10.25     58.50  1/31/2019
Molycorp Inc                  MCP      10.00      4.68   6/1/2020
Murray Energy Corp            MURREN   11.25     18.75  4/15/2021
Murray Energy Corp            MURREN    9.50     18.38  12/5/2020
Murray Energy Corp            MURREN   11.25     24.25  4/15/2021
Murray Energy Corp            MURREN    9.50     18.38  12/5/2020
Navient Corp                  NAVI      5.75     99.76 12/15/2017
New Gulf Resources LLC/
  NGR Finance Corp            NGREFN   12.25     16.13  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp            NGREFN   12.25     16.25  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp            NGREFN   12.25     23.50  5/15/2019
Nine West Holdings Inc        JNY       6.88     13.16  3/15/2019
Noranda Aluminum
  Acquisition Corp            NOR      11.00     10.73   6/1/2019
Nuverra Environmental
  Solutions Inc               NES       9.88     35.50  4/15/2018
OMX Timber Finance
  Investments II LLC          OMX       5.54     12.05  1/29/2020
Peabody Energy Corp           BTU       6.00     18.27 11/15/2018
Peabody Energy Corp           BTU      10.00     18.75  3/15/2022
Peabody Energy Corp           BTU       6.50     15.00  9/15/2020
Peabody Energy Corp           BTU       6.25     13.05 11/15/2021
Peabody Energy Corp           BTU       4.75      5.25 12/15/2041
Peabody Energy Corp           BTU       7.88     16.73  11/1/2026
Peabody Energy Corp           BTU      10.00     21.00  3/15/2022
Peabody Energy Corp           BTU       6.00     18.88 11/15/2018
Peabody Energy Corp           BTU       6.00     17.25 11/15/2018
Peabody Energy Corp           BTU       6.25     13.25 11/15/2021
Peabody Energy Corp           BTU       6.25     13.25 11/15/2021
Penn Virginia Corp            PVA       8.50     15.50   5/1/2020
Penn Virginia Corp            PVA       7.25     11.94  4/15/2019
Permian Holdings Inc          PRMIAN   10.50     39.00  1/15/2018
Permian Holdings Inc          PRMIAN   10.50     38.75  1/15/2018
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                  PRSPCT   10.25     48.75  10/1/2018
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                  PRSPCT   10.25     54.50  10/1/2018
Quicksilver Resources Inc     KWKA      9.13      3.00  8/15/2019
Quicksilver Resources Inc     KWKA     11.00      6.75   7/1/2021
Quiksilver Inc /
  QS Wholesale Inc            ZQK      10.00      3.66   8/1/2020
RAAM Global Energy Co         RAMGEN   12.50      8.75  10/1/2015
RS Legacy Corp                RSH       6.75      0.05  5/15/2019
Sabine Oil & Gas Corp         SOGC      7.25      7.25  6/15/2019
Sabine Oil & Gas Corp         SOGC      7.50      6.00  9/15/2020
Sabine Oil & Gas Corp         SOGC      9.75      4.75  2/15/2017
Sabine Oil & Gas Corp         SOGC      7.50      6.50  9/15/2020
Sabine Oil & Gas Corp         SOGC      7.50      6.50  9/15/2020
SandRidge Energy Inc          SD        8.75     29.50   6/1/2020
SandRidge Energy Inc          SD        7.50     11.43  3/15/2021
SandRidge Energy Inc          SD        8.75      9.13  1/15/2020
SandRidge Energy Inc          SD        8.13      9.00 10/15/2022
SandRidge Energy Inc          SD        7.50      9.96  2/15/2023
SandRidge Energy Inc          SD        8.13     24.00 10/16/2022
SandRidge Energy Inc          SD        7.50     25.32  2/16/2023
SandRidge Energy Inc          SD        7.50      9.25  3/15/2021
SandRidge Energy Inc          SD        7.50      9.25  3/15/2021
Sequa Corp                    SQA       7.00     32.00 12/15/2017
Sequa Corp                    SQA       7.00     32.00 12/15/2017
Seventy Seven Energy Inc      SSE       6.50     16.90  7/15/2022
Seventy Seven Operating LLC   SSE       6.63     35.00 11/15/2019
SquareTwo Financial Corp      SQRTW    11.63     50.75   4/1/2017
Swift Energy Co               SFY       7.88      6.90   3/1/2022
Swift Energy Co               SFY       7.13     10.75   6/1/2017
Swift Energy Co               SFY       8.88      8.92  1/15/2020
Syniverse Holdings Inc        SVR       9.13     45.28  1/15/2019
TMST Inc                      THMR      8.00     15.25  5/15/2013
Talos Production LLC /
  Talos Production
  Finance Inc                 TALPRO    9.75     43.50  2/15/2018
Talos Production LLC /
  Talos Production
  Finance Inc                 TALPRO    9.75     44.00  2/15/2018
Terrestar Networks Inc        TSTR      6.50     10.00  6/15/2014
TetraLogic
  Pharmaceuticals Corp        TLOG      8.00     43.00  6/15/2019
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc            TXU      10.25      7.63  11/1/2015
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU      15.00      6.88   4/1/2021
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU      11.50     30.00  10/1/2020
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU      10.50     10.25  11/1/2016
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU      10.25      9.50  11/1/2015
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU      11.50     32.00  10/1/2020
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU      15.00      6.15   4/1/2021
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU      10.25      2.32  11/1/2015
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc                 TXU      10.50      3.85  11/1/2016
Vanguard Natural
  Resources LLC /
  VNR Finance Corp            VNR       7.88     26.88   4/1/2020
Venoco Inc                    VQ        8.88     15.35  2/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS      11.75     14.42  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS      11.75     18.50  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS      11.75      2.01  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS      13.00      1.35   8/1/2020
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS       8.75      0.01   2/1/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS      11.75     18.13  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS      11.75      0.74  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS      11.75      0.74  1/15/2019
Verso Paper Holdings LLC /
  Verso Paper Inc             VRS      11.75     18.13  1/15/2019
W&T Offshore Inc              WTI       8.50     36.00  6/15/2019
Walter Energy Inc             WLTG      9.50     25.75 10/15/2019
Walter Energy Inc             WLTG      9.50     25.75 10/15/2019
Walter Energy Inc             WLTG      9.50     25.75 10/15/2019
Walter Energy Inc             WLTG      9.50     26.90 10/15/2019
Warren Resources Inc          WRES      9.00     15.00   8/1/2022
Warren Resources Inc          WRES      9.00     15.00   8/1/2022
Warren Resources Inc          WRES      9.00     15.00   8/1/2022
iHeartCommunications Inc      IHRT     10.00     40.00  1/15/2018


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2015.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***