TCR_Public/160120.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, January 20, 2016, Vol. 20, No. 20

                            Headlines

ALLIANCE PROCESSORS: Case Summary & 20 Top Unsecured Creditors
AMERICAN POWER: Reports $1.92 Million Net Loss for Fourth Quarter
ATNA RESOURCES: Provides Update on 2015 Mining Operations
BALTIMORE GRILL: Case Summary & 20 Largest Unsecured Creditors
CALMARE THERAPEUTICS: Terminates Ian Rhodes as EVP and CFO

CONNEAUT LAKE: Taxing Agencies Get $478K from Insurance Proceeds
DOVER DOWNS: Receives NYSE Listing Non-Compliance Notice
EASTERN CONTINENTAL: Chapter 15 Case Summary
FIRST QUANTUM: Fitch Cuts Issuer Default Rating to 'B'
FOOTHILL/EASTERN TRANSPORTATION: Moody's Affirms Ba1 Bonds Rating

FREEDOM COMMUNICATIONS: PBGC Stipulation Denied as Moot
GATEWAY CASINOS: DBRS Confirms 'B(high)' Issuer Rating
GELTECH SOLUTIONS: Issues $200,000 Convertible Note to Mr. Reger
GEORGINA LLC: Case Summary & Largest Unsecured Creditor
GREENFIELD SPECIALTY: S&P Affirms 'BB-' CCR, Outlook Stable

HONG KONG ENTERTAINMENT: Wants $5-Mil. Postpetition Financing
JHK INVESTMENTS: Court Okayed Cash Use in December
LEXI DEVELOPMENT: Court Approves Kula & Associates as Counsel
MGM RESORTS: Amends Bylaws to Include Proxy Access Process
MOG PRODUCING: Case Summary & 4 Largest Unsecured Creditors

MORGANS HOTEL: Amends Employment Agreements with COO and EVP
PACIFIC EXPLORATION: E&G Commences Tender Offers for Restructuring
PACIFIC EXPLORATION: S&P Cuts CCR to CC, Off CreditWatch Negative
PARAGON OFFSHORE: Defers Interest Payment on $15.4M 2022 Notes
PARAGON OFFSHORE: S&P Lowers Corporate Credit Rating to 'CC'

PEABODY ENERGY: S&P Lowers CCR to 'CCC+', Outlook Negative
PEROXYCHEM HOLDINGS: S&P Affirms 'B' CCR Then Withdraws Rating
PETROQUEST ENERGY: S&P Lowers CCR to 'CC', Outlook Negative
PICO HOLDINGS: Subsidiary Hires James Pirrello as CFO
PLATTSBURGH SUITES: $16.5MM Payment Deadline Moved to Jan. 15

PLATTSBURGH SUITES: Court Approves Uncontested Amended Plan
PLOVER APPETIZER: Files Liquidation Trust Agreement
PLOVER APPETIZER: Michigan Treasury, Heinz Object to Plan
PRESCOTT VALLEY: Gets Approval of Financing Deal With IPFS
PTC SEAMLESS: Court Approves $4.025-Mil. Sale to BD Seamless

R & R INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors
REICHHOLD HOLDINGS: Court Confirms Ch. 11 Plan of Liquidation
RESOLUTE FOREST: Moody's Affirms Ba3 CFR, Outlook Remains Stable
RESPONSE GENETICS: Court OKs Rosner Law as Panel's Counsel
RESPONSE GENETICS: Court OKs Sheppard Mullin as Committee Counsel

RG STEEL: Fails to Prove Ownership of Trumbull County Tax Refund
SABINE OIL: Dispute Over Merger Sent to Mediation
SAMSON RESOURCES: Court Approves Deloitte & Touche as Auditor
SAMSON RESOURCES: Court Approves PwC as Internal Controls Servicer
SAMSON RESOURCES: Hires Ernst & Young as Accounting Advisors

SAMUEL WYLY: 2nd Cir. Partially Affirms Asset Freeze Order
SANDALWOOD HOSPITALITY: Case Summary & 20 Top Unsecured Creditors
SCIENTIFIC GAMES: Hikes EVP's Base Salary to $725,000
SHAW COMMUNICATIONS: S&P Affirms 'BB' Global Scale Rating
SRP PLAZA: Exits Ch.11 Following Approval of Uncontested Plan

SRP PLAZA: Seeks Final Decree Closing Chapter 11 Case
TARRIE HYCHE: Court Denies Bid to Exclude Expert Testimony
TENET HEALTHCARE: In Talks with DOJ on Possible Action Settlement
TIMBERLINE RESOURCES: Receives Audit Opinion With Going Concern
TMT USA: Obtains Court OK to Purchase Vantage Shares

TRISTAR WELLNESS: Directors and Officers Quit
UTSTARCOM HOLDINGS: Promotes Dr. Zhaochen Huang to COO
WALTER ENERGY: Commences Sale & Investment Solicitation Process
WARNER MUSIC: Elects to Redeem $50-Mil. of Senior Notes due 2019
WIRE COMPANY: Can Hire Novo Advisors to Appoint CRO

WIRE COMPANY: Court Approves Lowenstein Sandler as Counsel
WIRE COMPANY: Court Okays Polsinelli PC as Co-Counsel
WRIGHTWOOD GUEST RANCH: Plan Offers Full Payment After 5 Years
WRIGHTWOOD GUEST RANCH: To Submit Revisions to Plan Outline
XINERGY LTD: Unveils New Board Members, Expects to Exit Chapter 11


                            *********

ALLIANCE PROCESSORS: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Alliance Processors, Inc.
           fdba Double E Resources
           fdba Tarrant County Processors
           fdba Big E Industries
        P. O. Box 77101
        Fort Worth, TX 76177

Case No.: 16-40261

Chapter 11 Petition Date: January 18, 2016

Court: United States Bankruptcy Court
       Northern District of Texas (Ft. Worth)

Judge: Hon. Mark X. Mullin

Debtor's Counsel: Lynda L. Lankford, Esq.
                  FORSHEY & PROSTOK, LLP
                  777 Main Street, Ste. 1290
                  Fort Worth, TX 76102
                  Tel: (817) 878-2022
                  Fax: (817) 877-4151
                  Email: llankford@forsheyprostok.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Harvey L. Earles, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txnb16-40261.pdf


AMERICAN POWER: Reports $1.92 Million Net Loss for Fourth Quarter
-----------------------------------------------------------------
American Power Group Corporation reported a net loss available to
common shareholders of $1.92 million on $873,000 of net sales for
the three months ended Sept. 30, 2015, compared with a net loss
available to common shareholders of $2.10 million on $1.40 million
of net sales for the same period in 2014.

For the 12 months ended Sept. 30, 2015, the Company reported a net
loss available to common shareholders of $1.04 million on $2.95
million of net sales compared to a net loss available to common
shareholders of $920,000 on $6.28 million of net sales for the 12
months ended Sept. 30, 2014.

As of Sept. 30, 2015, the Company had $11.1 million in total
assets, $11.3 million in total liabilities, and a $226,000
stockholders' deficit.

Lyle Jensen, American Power Group Corporation's chief executive
officer stated, "Fiscal 2015 ended up being one of the most
challenging years in the evolution of our business model.  Entering
the year we expected to transition from our multi-year investment
phase into the revenue growth and value appreciation phase.  That
did not occur as we, along with the rest of our industry, ran into
the head-winds of the current oil crisis which idled rigs targeted
for conversion and we saw a steady decrease in diesel prices which
tightened up the price spread and delayed alternative fuel
purchasing decisions by many Class 8 fleets."

Mr. Jensen added, "However, what we did accomplish in 2015 was
extremely important and has postured APG for an improved outlook
for 2016 and beyond.  With the strategic and financial support of
several of our preferred investors and Board members, we achieved
EPA dual fuel approvals for thirty-three late-model Volvo, Mack,
Detroit Diesel, and Cummins Class 8 engine families which are some
of the most complex diesel engine technology in the industry. Those
investments lead to APG's first California CARB Dual Fuel EO
Certification which opens up the California market to our diesel
emission reduction technology.  During the year, we also invested
in our international markets which resulted in multiple successful
demonstrations leading to several million dollars of new
quotations.  Finally, in August we acquired process rights to a new
revenue stream where we can capture and process remote and stranded
flared gas from oil production and monetize the gas into natural
gas liquids and eventually process the flared methane into high
quality natural gas for APG's dual fuel systems and dedicated
natural gas engines in general."

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

                        http://is.gd/RNUVJb

                   About American Power Group

American Power Group's alternative energy subsidiary, American
Power Group, Inc., provides a cost-effective patented Turbocharged
Natural Gas conversion technology for vehicular, stationary and
off-road mobile diesel engines.  American Power Group's dual fuel
technology is a unique non-invasive energy enhancement system that
converts existing diesel engines into more efficient and
environmentally friendly engines that have the flexibility to run
on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and
compressed natural gas; (3) diesel fuel and pipeline or well-head
gas; and (4) diesel fuel and bio-methane, with the flexibility to
return to 100 percent diesel fuel operation at any time.  The
proprietary technology seamlessly displaces up to 80% of the
normal diesel fuel consumption with the average displacement
ranging from 40 percent to 65 percent.  The energized fuel balance
is maintained with a proprietary read-only electronic controller
system ensuring the engines operate at original equipment
manufacturers' specified temperatures and pressures.  Installation
on a wide variety of engine models and end-market applications
require no engine modifications unlike the more expensive invasive
fuel-injected systems in the market.  Additional information at
http://www.americanpowergroupinc.com/


ATNA RESOURCES: Provides Update on 2015 Mining Operations
---------------------------------------------------------
Atna Resources Ltd. on Jan. 18 disclosed that the Company sold
approximately 31,470 ounces of gold for the year ended December 31,
2015, at an average gold price of $1,162 per ounce.

The Briggs Mine in Inyo County, California sold 19,526 ounces of
gold.  Mining and crushing operations were discontinued in July
2015, and production operations are now recovering gold from
crushed ore inventory on the leach pads and contained in the
processing plants.  Year-end recoverable gold inventory remaining
on the leach pads and in the plants is estimated at approximately
10,800 ounces to be recovered over the next two years.  Gold
production at Briggs will sequentially decline over time, as gold
ounces are recovered and inventory balances are reduced.

Approximately 49,200 tons ore at an estimated grade of 0.360 ounces
per ton was shipped from the Pinson Underground mine to Newmont's
nearby Twin Creeks metallurgical facility in 2015. Subject to final
settlements, Pinson sold an estimated 12,000 ounces of gold in
2015.  Due to a lack of developed working faces and the working
capital needed for further development, the Company has placed the
Pinson mine on care and maintenance.

On November 18, 2015, Atna and its subsidiaries (together with
Atna, the "Debtors"), filed voluntary petitions for relief under
Chapter 11 of Title 11 of the United States Code in the United
States Bankruptcy Court for the District of Colorado.
Simultaneously with the Chapter 11 filings, the Debtors filed for
ancillary relief in Canada pursuant to the Companies' Creditors
Arrangement Act in the Supreme Court of British Columbia in
Vancouver, Canada.  On December 29, 2015, Atna Resources was
delisted from the Toronto Stock Exchange.  Further information
concerning the Chapter 11 restructuring can be found at
www.upshotservices.com/atna

Atna is currently in the process of marketing assets and properties
for sale to meet its obligations to its creditors subject to
approval by the Court.  Maxit Capital LP, of Toronto, Ontario, is
the investment banker assisting Atna in this process.   

Atna Resources Ltd. was incorporated in British Columbia in 1984
and its corporate management office is located in Golden, Colorado.
The Company is involved in all phases of the mining business,
including exploration, preparation of feasibility studies,
permitting, construction, development, operation and reclamation of
mining properties.  The Company is currently operating the Pinson
Underground gold mine near Winnemucca, Nevada, the Briggs mine
located in Inyo County, California, and other development and
exploration-stage properties in Canada and the U.S.


BALTIMORE GRILL: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Baltimore Grill, Inc.
           aka Tony's Baltimore Grill
        2800 Atlantic Ave.
        Atlantic City, NJ 08401-6302

Case No.: 16-10816

Chapter 11 Petition Date: January 18, 2016

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

Judge: Hon. Jerrold N. Poslusny Jr.

Debtor's Counsel: Ira Deiches, Esq.
                  DEICHES & FERSCHMANN
                  25 Wilkins Ave.
                  Haddonfield, NJ 08033
                  Tel: (856) 428-9696
                  Fax: (856) 795-6983
                  Email: ideiches@deicheslaw.com

Total Assets: $1.09 million

Total Liabilities: $939,063

The petition was signed by Michael A. Tarsitano, director.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb16-10816.pdf


CALMARE THERAPEUTICS: Terminates Ian Rhodes as EVP and CFO
----------------------------------------------------------
The Board of Directors of Calmare Therapeutics Incorporated
determined that it would not be continuing to employ Ian Rhodes as
the Company's executive vice president and chief financial officer.
Mr. Rhodes' termination from employment was effective on Jan. 8,
2016.  Mr. Rhodes termination did not result from disagreement with
the Company on any matter relating to the Company's operations,
policies or practices.

                 Appointment of Thomas P. Richtarich

On Jan. 11, 2016, the Company appointed Thomas P. Richtarich as
chief financial officer of the Company.  Mr. Richtarch served as a
consultant to the Company prior to being hired as the Company's
chief financial officer.  The Company does not currently have an
employment agreement in place with Mr. Richtarich.  However, the
Company will continue to provide Mr. Richtarich with the
compensation he received as a consultant equal to $9,500 per month
plus expenses.

Thomas P. Richtarich, age 63, has held roles in corporate financial
management for public and privately held companies for over twenty
years.  Since 2013, Mr. Richtarich has run his own consulting firm,
Richtarich Consulting, serving as chief financial officer for his
clients and providing assistance to clients in the areas of
financial management, strategic planning, capital fund raising,
compensation/benefits, talent management and marketing. During 2014
through 2015, Mr. Richtarich also served as Director of Finance, HR
and administration and chief financial officer to Readme Systems,
Inc., a privately held company, where his efforts lead to the
revitalization of the company through new capital raises and
employee recruitment.  From 2009 through 2013, Mr. Richtarich
served as Director and Corporate Secretary- Human Resources and
Administration of Transwitch Corporation, a public company.  During
this role, Mr. Richtarich managed strategic restructuring,
compliance with SEC requirements, benefits programs and talent
acquisition.

Mr. Richtarich began his professional carrier in various positions
in strategic planning, marketing and sales each providing him with
progressively increasing leadership and management opportunities.
Mr. Richtarich received his BA in Political Science from Fairfield
University and his MBA from the University of Connecticut Graduate
School of Business.

                     About Calmare Therapeutics

Calmare Therapeutics Incorporated, formerly known as Competitive
Technologies, Inc., provides distribution, patent and technology
transfer, sales and licensing services focused on the needs of its
customers and matching those requirements with commercially viable
product or technology solutions.  Sales of the Company's
Calmare(R) pain therapy medical device continue to be the major
source of revenue for the Company.

Calmare reported a net loss of $3.4 million on $1 million of
product sales for the year ended Dec. 31, 2014, compared to a net
loss of $2.6 million on $653,000 of product sales for the year
ended Dec. 31, 2013.

As of June 30, 2015, the Company had $4.31 million in total assets,
$13.2 million in total liabilities and a total shareholders'
deficit of $8.88 million.

Mayer Hoffman McCann CPAs, in New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has incurred operating
losses since fiscal year 2006 and has a working capital and
shareholders' deficiency at Dec. 31, 2014.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


CONNEAUT LAKE: Taxing Agencies Get $478K from Insurance Proceeds
----------------------------------------------------------------
This adversary proceeding is a civil action that was removed to the
United States Bankruptcy Court for the Western District of
Pennsylvania from the Court of Common Pleas of Crawford County,
Pennsylvania, and which seeks a declaratory judgment regarding the
relative rights of the Trustees of Conneaut Lake Park, Inc.,
Plaintiff Park Restoration, LLC, and certain tax creditors of the
Debtor as to fire insurance proceeds in the original amount of
$611,000.

Procedurally, the parties seek a final determination of the matter
by way of dueling Motions for Summary Judgment.  The Court
describes the motion practice as "dueling" because the Taxing
Authorities filed their own Motion for Summary Judgment.  In turn,
the Plaintiff filed its Motion for Summary Judgment which received
opposition from both the Debtor and the Taxing Authorities.

Because the Plaintiff's claim to the insurance proceeds rests, in
part, upon a Constitutional challenge to a state statute, the
matter was certified to the Attorney General of the Commonwealth of
Pennsylvania.  The Commonwealth, through its Attorney General,
subsequently filed various response briefs in opposition to the
Plaintiff's Motion for Summary Judgment.

In a Memorandum Opinion dated December 22, 2015, which is available
at http://is.gd/cn1ZEufrom Leagle.com, Chief Judge Jeffery A.
Deller of the United States Bankruptcy Court for the Western
District of Pennsylvania grants partial summary judgment in favor
of the Plaintiff and grants partial summary judgment in favor of
the Taxing Authorities.  Towards that end, the Court finds that no
genuine issue of material fact exists and that a judgment as a
matter of law is appropriate insofar as: (a) the Taxing Authorities
are entitled to be paid $478,260 of the Insurance Proceeds; and (b)
the Plaintiff is entitled to the remaining Insurance Proceeds that
are held in the registry maintained by the Clerk of the Court.

The case is IN RE: TRUSTEES OF CONNEAUT LAKE PARK, INC.,
Debtor-in-Possession. PARK RESTORATION, LLC, Chapter 11, Plaintiff,
v. SUMMIT TOWNSHIP, a Municipal Corporation; THE TRUSTEES OF
CONNEAUT LAKE PARK, a Charitable Trust; CRAWFORD COUNTY, a
Political Subdivision; the TAX CLAIM BUREAU OF CRAWFORD COUNTY; and
the CONNEAUT SCHOOL DISTRICT, Defendants, Bankruptcy No.
14-11277-JAD, Adversary No. 15-1010-JAD (Bankr. W.D. Pa.).

                 About Conneaut Lake Park

Conneaut Lake Park is a summer amusement resort, located in
Conneaut Lake, Pennsylvania.

Trustees of Conneaut Lake Park, Inc., filed a Chapter 11
bankruptcy
petition (Bankr. W.D. Pa. Case No. 14-11277) in Erie,
Pennsylvania,
on Dec. 4, 2014.  The case is assigned to Judge Thomas P. Agresti.

The Debtor tapped George T. Snyder, Esq., at Stonecipher Law Firm,
in Pittsburgh, as counsel.  The Debtor estimated assets and debt
of
$1 million to $10 million.

Trustees of Conneaut Lake Park filed for bankruptcy protection
less
than 20 hours before the Crawford County amusement park was
scheduled to go to sheriff's sale for almost $930,000 in back
taxes
and related fees.


DOVER DOWNS: Receives NYSE Listing Non-Compliance Notice
--------------------------------------------------------
Dover Downs Gaming & Entertainment, Inc., was notified by the New
York Stock Exchange on January 18, 2016 that the average closing
price of the Company's common stock had fallen below $1.00 per
share over a period of 30 consecutive trading days, which is the
minimum average share price for continued listing on the NYSE under
the NYSE Listed Company Manual.

"Under NYSE rules, we have six months following receipt of the
notification, subject to possible extension, to regain compliance
with the minimum share price requirement or be subject to
delisting.  We can also regain compliance at any time during the
six-month cure period if our common stock has a closing share price
of at least $1.00 on the last trading day of any calendar month
during the period and also has an average closing share price of at
least $1.00 over the 30-trading day period ending on the last
trading day of that month," the Company said.

"The notice has no immediate impact on the listing of our common
stock, which will continue to trade on the NYSE under the symbol
'DDE' but will be assigned a '.BC' indicator by the NYSE to signify
that we are not currently in compliance with NYSE continued listing
standards.

"We have 10 business days to notify the NYSE of our intent to cure
this deficiency.  We intend to so notify the NYSE on a timely
basis."

Owned by Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE),
Dover Downs Hotel & Casino(R) -- http://www.doverdowns.com-- is a
premier gaming and entertainment resort destination in the
Mid-Atlantic region.  Gaming operations consist of approximately
2,500 slots and a full complement of table games including poker.
The AAA-rated Four Diamond hotel is Delaware’s largest with 500
luxurious rooms/suites and amenities including a full-service
spa/salon, concert hall and 41,500 sq. ft. of multi-use event
space.  Live, world-class harness racing is featured November
through April, and horse racing is simulcast year-round.
Professional football parlay betting is accepted during the season.
Additional property amenities include multiple restaurants from
fine dining to casual fare, bars/lounges and retail shops.


EASTERN CONTINENTAL: Chapter 15 Case Summary
--------------------------------------------
Chapter 15 Petitioner: Ninos Koumettou, Liquidator

Chapter 15 Debtor: Eastern Continental Mining and Development Ltd.
                   59-60 Cornhill, 1st Floor
                   London EC3V 3PD

Chapter 15 Case No.: 16-10121

Type of Business: Mineral Mining

Chapter 15 Petition Date: January 18, 2016

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

Chapter 15 Petitioner's Counsel: Kevin Scott Mann, Esq.
                                 Christopher P. Simon, Esq.
                                 CROSS & SIMON, LLC
                                 1105 N. Market Street, Suite 901
                                 P.O. Box 1380
                                 Wilmington, DE 19899-1380
                                 Tel: 302-777-4200
                                 Fax: 302-777-4224
                                 Email: kmann@crosslaw.com
                                        csimon@crosslaw.com

Estimated Assets: Not Indicated

Estimated Debts: Not Indicated


FIRST QUANTUM: Fitch Cuts Issuer Default Rating to 'B'
------------------------------------------------------
Fitch Ratings has downgraded Canada-based First Quantum Minerals
Ltd's (FQM) Issuer Default Rating (IDR) and senior unsecured rating
to 'B' from 'BB-'. The Recovery Rating for its senior unsecured
issues is 'RR4'. Simultaneously all ratings have been placed on
Rating Watch Negative (RWN) pending further news regarding the
company's USD1bn asset sales programme and the outcome of current
covenant negotiations with its banking group.

The downgrade reflects the material deterioration in FQM's credit
metrics caused by a weaker and more volatile commodity price
environment at a time when the company faces large cash outflows --
and consequently negative free cash flow (FCF) -- in respect of its
Cobre Panama project. Fitch believes that the company's current
overall credit profile better corresponds to a 'B' category
rating.

KEY RATING DRIVERS

Weakened Credit Metrics

Fitch now expects FQM's gross leverage (total debt/funds from
operations (FFO)) to peak at around 10.0x in 2016 before declining
to around 7.0x by 2017 due to higher EBITDA derived from recently
completed new projects (the Kansanshi smelter and Sentinel mine).
The sharp increase in leverage compared with our previous
expectations of around 6.0x for 2016 reflects a combination of
factors, including an assumed rebasing of copper prices to around
USD4,800 in 2016, and delays in the ramp-up of the Sentinel mine
and Kansanshi smelter in Zambia.

Debt Reduction Needed

As of end-September 2015, the company's total drawn debt amounted
to USD5.7bn, mainly composed of a USD3bn term loan and revolving
credit facility (RCF; of which USD1.4bn was drawn) and USD3.4bn of
senior unsecured notes. The covenant schedule applicable to the RCF
facility requires a gradual step-down in the net debt/EBITDA ratio
over the period to maturity in 2018. In May 2015 FQM obtained a
covenant amendment to 7.5x until December 2015, then step down to
5.5x for 1H16 and 4.5x for 2H16 and 1H17.

Under the company's revised production numbers and assuming a
USD4,800/t copper price, we expect FQM to comply with its covenant
in 1H16, but to breach it in 2H16 if it fails to reduce debt and/or
negotiate a further amendment to covenant levels in the next few
months. FQM announced a debt reduction programme of USD1bn by 1Q16
through a combination of assets sales and other strategic
initiatives.

Liquidity Dependent on Refinancing

In the medium-term, we project that FQM will face aggregate
negative FCF of around USD4bn and debt service costs of USD1.1bn
over 2016-2018. Potential sources of funds include (i) cash
(USD276m as of September 2015), (ii) USD1.7bn of committed undrawn
facilities (mature in 2019), (iii) USD662m drawdown under a USD1bn
precious metals streaming agreement with Franco-Nevada Corp, (iv)
approximately USD600m from Korea Panama Mining Corp for its share
of development costs for Cobre Panama and (v) planned asset
disposals of around USD1bn.

The availability of existing undrawn facilities remains subject to
compliance or successful renegotiation of covenants. We
additionally estimate that the completion of the company's current
project pipeline will require it to procure USD2bn of additional
funds by 2018.

Large Zambian Operational Exposure

Assets in Zambia contributed over 45% of group revenues and EBITDA
in 2015 and the share is expected to increase in the short-term as
the Kansanshi smelter and Sentinel mine reach full output. In our
opinion, the business environment for miners operating in Zambia
has become increasingly uncertain, particularly with respect to
dealings with the government and the enactment of new legislation
for the mining sector. The failed plan in 2015 to introduce a
materially higher rate of mining royalties highlights this risk.

In 2015, Fitch revised the Outlook on Zambia's Long-term foreign
IDR of 'B' to Stable from Positive. This reflected weak policy
coherence and credibility from the government as well as
expectations of moderating growth (expected to have slowed to 4.9%
in 2015 from 6% in 2014) due to weaker copper prices and power
supply deficit.

Large Project Pipeline

FQM has been involved in a large project pipeline including the
construction of a new Kansanshi copper smelter and the Sentinel
mine in Zambia, as well as the Cobre Panama copper mine in Panama.
Management has taken steps to reduce 2016 capex to around $US 1.2
billion, largely through the deferral of USD600m of capex at Cobre
Panama. However, we still expect capex to average USD1.7n in 2017
and 2018, resulting in negative FCF throughout the period. Absolute
debt is likely to peak at over U$S 7.5 billion in 2017 (excluding
$US 1 billion debt reduction in 2016), materially above our
previous expectations.

The new copper smelter was originally planned to start ramp-up in
2H14 but was delayed to the summer 2015 by logistical issues. The
delay resulted in the stockpiling of copper concentrate at the
Kansanshi smelter because of a lack of alternate smelting capacity.
The Sentinel mine was also impacted by the slower smelter ramp-up,
as well as by delays in the construction of power supply.
Construction at Cobre Panama is now around 70%-complete. We do not
expect future progress to be impacted by the capex reductions in
2016 (which result from the purchase timing for large capital
items), but we will continue to monitor this aspect of the
project.

KEY ASSUMPTIONS

-- Fitch's copper price assumptions: USD4,800/t in 2016,
    $US 5,200/t in 2017, USD6,000/t in the long-term
-- Volumes as per management guidance
-- Capex of approximately $US 1.4 billion in 2015 and $US 1.2
    billion in 2016, increasing to $USD 1.6 billion in 2017 and
    $US 1.9 billion in 2018
-- Additional cash inflows from variously ENRC promissory note,
    Franco-Nevada streaming facility and KPMC equity contribution
    received as currently planned

RATING SENSITIVITIES

Positive: Future developments that may individually or collectively
lead to positive rating action (removal of RWN) include:

-- Successful completion of planned asset sales
-- Successful renegotiation of existing covenant levels

Negative: Future developments that may individually or collectively
lead to negative rating action include:

-- Failure to agree new covenant levels with its banking group  
    and/or to agree new financing arrangements
-- FFO gross leverage not trending towards 5.0x by 2018
-- Significant problems or delays at key development projects
    delaying the expected improvement in EBITDA generation and
    improvement in credit metrics
-- Measures taken by the Zambian government materially adversely
    affecting cash flow generation or the operating environment.



FOOTHILL/EASTERN TRANSPORTATION: Moody's Affirms Ba1 Bonds Rating
-----------------------------------------------------------------
Moody's Investors Service affirms the Ba1 on Foothill/Eastern
Transportation Corridor Agency senior and junior toll road revenue
bonds with a stable outlook. The Ba1 acknowledges recent stronger
actual than forecasted traffic, but continues to reflect a high
debt load, escalating debt service and deferred principal repayment
by 13 years with a 2013 restructuring that smoothed the debt
service profile to improve near term debt service coverage ratios
(DSCRs). While annual debt service grows at a slower annual rate
post restructuring, it remains back loaded over a 40-year period
and repayment depends on sustained annual traffic and/or revenue
growth supported by annual inflationary toll rate increases. While
recent growth and annual toll rote increases is expected to yield
better than previously forecasted debt service coverage ratios
(DSCRs),a longer track record of traffic recovery and revenue
performance would be informative with respect to longer term
trajectories before considering any upward rating revision.

Moody's notes as credit negatives that there is no principal
repayment until 2020 and that the majority of principal (72%) does
not begin to amortize until 2042. Proactive, nearly annual
increases in toll rates (the board has a demonstrated history of
raising tolls with six increases in the last seven years); strong
liquidity; timely financial reporting; expected continued economic
recovery and development in the affluent service area supports the
rating and stable outlook.

Rating Outlook

The stable rating outlook is based on recent stronger than
forecasted traffic and revenue growth; maintenance of strong levels
of unrestricted liquidity and Moody's  expectation that traffic and
revenue will continue to grow to keep pace with escalating annual
debt service due to the strength of the economic recovery in Orange
County and expected sustained low gas prices.

Factors that Could Lead to an Upgrade

-- Accelerated development in the toll road corridor that
    generates sustained higher than forecasted growth in
    traffic and revenues

-- More rapid amortization of outstanding debt

-- Implementation of automatic annual rate increases

Factors that Could Lead to a Downgrade

-- Lower than forecasted traffic and revenue due
    to slower than expected growth

-- Failure to implement rate increases as needed to
    provide at minimum the covenanted 1.3 times DSCR for
    senior and 1.15 times for all bonds

-- Substantial additional borrowing for and construction
    of the Foothill-South extension not supported by
    additional traffic and revenue from those projects

Legal Security

The bonds are secured by net toll road revenues and other revenues
(mainly account maintenance fees, violation fees and fines,
investment income and DIFs collected above $5 million annually, and
a cash funded debt service reserve fund (DSRF) funded at the lesser
of the standard three-prong test for both the senior and junior
lien bonds. Security also includes a Use and Occupancy Fund and a
Revenue Guarantee Account.

Use of Proceeds

Not applicable.

Obligor Profile

The Foothill/Eastern Transportation Corridor consists of 36 miles
of high speed, electronically tolled four-to-six lane roads. The
two toll roads that make up the corridor were partially opened in
1995 and fully completed in February 1999. In 1999 the agency
restructured its debt and extended principal maturities by five
years to improve the DSCR due to slower than projected traffic and
revenue ramp-up.

In November 2005, the agency entered into a mitigation and loan
agreement with the San Joaquin Hills Transportation Corridor Agency
(SJHTCA) to offset the forecasted toll revenue diversion impact of
the Foothill South extension to complete the 241 toll road and the
connection to I-5. To-date the agency has made $120 million in
mitigation payments to SJHTCA. With the 2014 debt restructuring for
SJHTCA, the mitigation agreement has been terminated, and SJHTCA
will repay the mitigation payments to F/ETCA beginning in 2025, if
surplus funds are available. The mitigation agreement would have
allowed F/ETCA to provide up to $1.04 billion in loans to help
SJHTCA meet its rate covenant. With the termination of this
agreement the flow of fund was closed and Moody's no longer notch
down for this factor in our methodology scorecard.



FREEDOM COMMUNICATIONS: PBGC Stipulation Denied as Moot
-------------------------------------------------------
Freedom Communications, Inc., and its affiliated debtors sought and
was denied by Judge Mark S. Wallace of the U.S. Bankruptcy Court
for the Central District of California, Santa Ana Division approval
of their stipulation with the Prepetition Loan Parties and Pension
Benefit Guaranty Corporation ("PBGC"), in connection with the
Debtors' use of cash collateral.  The Debtors' Motion was denied as
it was moot.

The Prepetition Loan Parties consist of the Prepetition Agent
Silver Point Finance, LLC and Prepetition Lenders SPCP Group, LLC
and SPCP Group VI, LLC.

The Debtors related that they were authorized to use the Cash
Collateral of the Prepetition Loan Parties and the PBGC by the
Court, subject to the terms and conditions set forth in the Court's
Interim Order.  The Debtors further related that the Interim Order
did not contain the Debtors' stipulations regarding the claims and
interests of the Prepetition Loan Parties and PBGC, that had been
set forth in the DIP and Cash Collateral Motion, the Declaration of
Chris D. Dahl ("First Day Declaration"), and the proposed interim
order, as the Court indicated such stipulations are more
appropriately contained in the form of a stipulation, not in the
Court's Interim Order approving interim use of Cash Collateral.

The Stipulation contains, among others, the following material
terms:

     (1) The Debtors' Obligations to the Prepetition Loan Parties.
The Debtors stipulate to factual information and background
relating to their obligations to the Prepetition Loan Parties in
connection with the Prepetition Credit Agreement, including the
collateral supporting such obligations, and the amount, priority
and allowability of the obligations.

     (2) The Debtors' Obligations to the PBGC.  The Debtors
stipulate to factual information and background relating to their
obligations to the PBGC in connection with the Pension Plan,
including the collateral supporting such obligations, and the
amount, priority and allowability of the obligations.

     (3) Debtor Challenges.  The Debtors waive their rights to
challenge the obligations to, and liens of the Prepetition Loan
Parties and the PBGC.

     (4) Implied Covenant of Good Faith and Fair Dealing.  The
Debtors agree not to take any action to impair the collateral of
the Prepetition Loan Parties or the Pension Plan, not to seek to
alter the expenditure of Cash Collateral different from that
contained in the Budget without consent, and not to invoke
Bankruptcy Code sections 506(c) and/or 552 with respect to
marshalling, surcharge or similar rights.

     (5) Restrictions on Investigations; Funding. Until entry of
the Final Order, the Debtors agree not to use any of the Cash
Collateral to challenge the Prepetition Loan Parties' or the
Pension Plan's claims or collateral.

                   Tribune, LA Times Objections

Tribune Publishing Company and Los Angeles Times Communications LLC
("Objectors") asserted that entry into the Stipulation is not the
exercise of the Debtors' sound business judgment.  The Objectors
further asserted that the Debtors' entry into the Stipulation
reflects and abdication of their fiduciary duties to seek the most
advantageous financing available to their estates and to maximize
the value of their estates for the benefit of their creditors.  The
Objectors contended that the Stipulation prevents the Debtors from,
among other things:

    (i) seeking alternative and better financing,

   (ii) seeking to surcharge the Prepetition Loan Parties and the
PBGC to maintain the value of the Debtors' estates through a sale
process, and

  (iii) challenging the Prepetition Loan Parties' alleged right to
a "make-whole" premium.

The Objectors told the Court that the requested relief is
inappropriate and premature.  They further told the Court that the
Stipulation should not bind the Debtors until the entry of the
final order on the proposed DIP Facility and it should not bind the
Debtors' estates or the Committee for Unsecured Creditors until the
expiration of the challenge period.

Freedom Communications and its affiliated debtors are represented
by:

          William N. Lobel, Esq.
          Alan J. Friedman, Esq.
          Beth E. Gaschen, Esq.
          Christopher J. Green, Esq.
          LOBEL WEILAND GOLDEN FRIEDMAN LLP
          650 Town Center Drive, Suite 950
          Costa Mesa, CA 92626
          Telephone: (714)966-1000
          Facsimile: (714)966-1002
          E-mail: wlobel@lwgfllp.com
                  afriedman@lwgfllp.com
                  bgaschen@lwgfllp.com
                  cgreen@lwgfllp.com

Tribune Publishing Company is represented by:

          Jeremy E. Rosenthal, Esq.
          Helena G. Tseregounis, Esq.
          SIDLEY AUSTIN LLP
          555 West Fifth Street, Suite 4000
          Los Angeles, California 90013
          Telephone: (213)896-6000
          Facsimile: (213)896-6600
          E-mail: jrosenthal@sidley.com
                 htseregounis@sidley.com

                   - and -

          Kenneth P. Kansa, Esq.
          SIDLEY AUSTIN LLP
          One South Dearborn Street
          Chicago, IL 60603
          Telephone: (312)853-7000
          Facsimile: (312)853-7036
          E-mail: kkansa@sidley.com

                   About Freedom Communications

Headquartered in Santa Ana, California, Freedom Communications,
Inc., owns two daily newspapers -- The Press-Enterprise in
Riverside, Calif. and The Orange County Register in Santa Ana,
Calif.

Freedom Communications and 24 of its affiliates sought Chapter 11
bankruptcy protection in California with the intention of selling
their assets to a group of local investors led by Rich Mirman,
Freedom's chief executive officer and publisher.

Headquartered in Santa Ana, California, Freedom owns two daily
newspapers -- The Press-Enterprise in Riverside, Calif. and The
Orange County Register in Santa Ana, Calif.

Freedom Communications, Inc., et al., filed Chapter 11 bankruptcy
petitions (Bankr. C.D. Cal. Proposed Lead Case No. 15-15311) on
Nov. 1, 2015.  Richard E. Mirman signed the petition as chief
executive officer.  Lobel Weiland Golden Friedman LLP serves as the
Debtors' counsel.

Freedom Communications Holdings estimated both assets and
liabilities in the range of $10 million to $50 million.


GATEWAY CASINOS: DBRS Confirms 'B(high)' Issuer Rating
------------------------------------------------------
DBRS Limited (DBRS) confirmed both the Issuer Rating and Senior
Secured 2nd-Lien Notes rating of Gateway Casinos & Entertainment
Limited (Gateway or the Company) at B (high) with Stable trends.
The Senior Secured 2nd-Lien Notes have a recovery rating of RR4.
The confirmation considers Gateway’s steadily improving operating
performance and the mainly debt-financed acquisition of Playtime
Gaming Inc. (Playtime).

In the first nine months of 2015 (9M 2015), Gateway’s revenues
increased in the low-double digits, driven by a full-year
contribution of the expanded Grand Villa casino and the increased
restaurant offerings in many of its locations. EBITDA margins
remained stable and high relative to peers as the benefit of
operating leverage offset the impact of increased marketing and
promotion. As a result, EBITDA increased by approximately 12% year
over year in 9M 2015. Cash flow from operations continued to track
operating income and expansionary capital expenditures increased in
the last year, mainly to fund the expansion/renovation of the
Kamloops casino. As such, Gateway’s free cash flow before changes
in working capital increased modestly to the $20 million range for
the last 12 months ended Q3 2015.

In Q4 2015, Gateway closed the acquisition of Playtime, adding six
new properties in four new markets in British Columbia. While the
purchase price was not disclosed, the acquisition was partially
financed by an additional $50 million of borrowings under Term Loan
A and by increasing the Company’s revolving credit facility by
$10 million. Credit metrics improved marginally over the last year
as the benefit of increased earnings outweighed the increased debt
level resulting from the Playtime acquisition. DBRS estimates that
pro forma lease-adjusted debt-to-EBITDAR and lease-adjusted EBITDAR
coverage were 5.7 times (x) and 2.4x, respectively, compared with
6.0x and 2.3x, respectively, at the end of 2014.

DBRS believes that Gateway’s earnings profile will strengthen
over the near to medium term as investments continue to increase
customer traffic and improve geographic diversification. DBRS
believes that gaming revenue will grow in the low-double digits
over the next two years, driven by a full-year contribution of the
relocated and expanded Kamloops casino, the relocation and
expansion of the Baccarat and the Palace casinos in Edmonton as
well as the contribution of Playtime. The Edmonton casinos will
move to much higher-traffic locations in the new Ice District and
in the West Edmonton Mall and could be opened in Q3 2016 and Q4
2016, respectively. The softened economic conditions in Alberta
could have a minor impact on customer traffic and revenue growth.
As a result, DBRS expects EBITDA to grow in the double digits in
both 2016 and 2017. DBRS expects Gateway’s financial profile to
improve over the medium term as the Company increases its
cash-generating capacity and makes its scheduled debt repayments.
Cash flow from operations is expected to grow in the double digits,
increasing to approximately $85 million in 2016.

DBRS expects Gateway to invest $85 million in 2016, mainly to fund
the Edmonton casinos’ relocations and expansions. Gateway has
approximately $22 million of scheduled amortization payments to be
made in 2016. In order to fund the cash flow deficit, DBRS believes
that the Company will divest some of its land holdings. While DBRS
expects the Company to meet its liquidity requirements in 2016,
should Gateway have the need to conserve capital, it could slow
down spending at the Palace casino relocation. DBRS expects Gateway
to return to generating positive free cash flow in 2017. The growth
in operating income combined with the scheduled debt repayment
should result in a material improvement to key credit metrics
(i.e., lease-adjusted debt-to-EBITDAR comfortably below 5.5x by
2016). A positive rating action could ensue if lease-adjusted
debt-to-EBITDAR nears 5.0x. That said, if lease-adjusted
debt-to-EBITDAR increases to more than 6.5x because of weakening
operating performance and/or debt-financed growth, the ratings
could be pressured.



GELTECH SOLUTIONS: Issues $200,000 Convertible Note to Mr. Reger
----------------------------------------------------------------
GelTech Solutions, Inc., issued Mr. Reger a $200,000 7.5% secured
convertible note in consideration for a $200,000 loan on Jan. 14,
2016.  The note is convertible at $0.37 per share and matures on
Dec. 31, 2020.  Repayment of the note is secured by all of the
Company's assets including its intellectual property and inventory
in accordance with a secured line of credit agreement between the
Company and Mr. Reger.  Additionally, the Company issued Mr. Reger
270,270 two-year warrants exercisable at $2.00 per share.  

All of the securities were issued without registration under the
Securities Act of 1933 in reliance upon the exemption provided in
Section 4(a)(2) and Rule 506(b) thereunder.

                        About GelTech

Jupiter, Fla.-based GelTech Solutions. Inc., is a Delaware
corporation organized in 2006.  The Company markets four products:
(1) FireIce(R), a water soluble fire retardant used to protect
firefighters, structures and wildlands; (2) Soil2O(R) 'Dust
Control', its new application which is used for dust mitigation in
the aggregate, road construction, mining, as well as, other
industries that deal with daily dust control issues; (3)
Soil2O(R), a product which reduces the use of water and is
primarily marketed to golf courses, commercial landscapers and the
agriculture market; and (4) FireIce(R) Home Defense Unit, a system
for applying FireIce(R) to structures to protect them from
wildfires.

GelTech Solutions reported a net loss of $5.51 million on $800,000
of sales for the year ended June 30, 2015, compared to a net loss
of $7.11 million on $815,000 of sales for the year ended June 30,
2014.

As of Sept. 30, 2015, the Company had $2.09 million in total
assets, $5.79 million in total liabilities, and a $3.69 million
total stockholders' deficit.


GEORGINA LLC: Case Summary & Largest Unsecured Creditor
-------------------------------------------------------
Debtor: Georgina, LLC
        5339 Vanalden Avenue
        Tarzana, CA 91356

Case No.: 16-10140

Chapter 11 Petition Date: January 18, 2016

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

Judge: Hon. Martin R. Barash

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

Total Assets: $2 million

Total Liabilities: $908,697

The petition was signed by Ben Sayani, manager.

The Debtor listed Imad Aboujawdah Civic Design and Drafting, Inc.
as its largest unsecured creditor holding a claim of $25,600.

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

            http://bankrupt.com/misc/cacb16-10140.pdf


GREENFIELD SPECIALTY: S&P Affirms 'BB-' CCR, Outlook Stable
-----------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB-'
long-term corporate credit rating on Toronto-based GreenField
Specialty Alcohols Inc.  The outlook is stable.

Subsequently, S&P withdrew its corporate credit rating on
GreenField at the company's request.  At the same time, S&P
withdrew its issue-level and recovery ratings on GreenField's
senior secured term loan, which was recently repaid.

S&P's corporate credit rating and outlook at the time of the
withdrawal reflect its expectation that the company will generally
maintain adjusted debt-to-EBITDA below 2x, with the potential for
it to weaken to the 3x-4x range under stressed market conditions
given the inherent volatility in the fuel ethanol market.



HONG KONG ENTERTAINMENT: Wants $5-Mil. Postpetition Financing
-------------------------------------------------------------
Hong Kong Entertainment (Overseas) Investment, Ltd., asks the U.S.
District Court for the Northern Mariana Islands, Bankruptcy
Division, for authorization to obtain postpetition financing.

Timothy H. Bellas, Esq., at the Law Office of Timothy H. Bellas,
LLC, in Saipan, Northern Mariana Islands, relates that the Debtor
operates a hotel and casino on the Island of Tinian, Commonwealth
of the Northern Mariana Islands.  Mr. Bellas further relates that
the Debtor's casino operation has been closed for several months
and there is limited cash flow produced by the hotel when the
casino is not operational.

Mr. Bellas tells the Court that the Debtor needs sufficient bridge
financing to settle certain prepetition obligations, such as taxes
and wages of employees in order to reopen the casino portion of its
business.  

The Debtor is seeking authorization from the Court to obtain a
postpetition loan in the maximum amount of $5,000,000 from Lender
CHEN CHIEN YEH, on an interim basis, pending a final hearing on the
Debtor's Motion.

The Loan Agreement contains these relevant terms, among others:

   (a) The Loan may be drawdown during a period of 12 months from
the date of the Agreement, more than once by the Borrower following
receipt by the Lender of an irrevocable and duly completed Request
in respect of the Drawdown not later than 11:00 a.m., one business
day immediately preceding the proposed Drawdown Date.

   (b) The Borrower may prepay amounts outstanding under the
Agreement in whole or in part on any Interest Settlement Date,
provided that the Lender has received from the Borrower not less
than five business days' notice in writing of its intention to make
such prepayment.

   (c) The Borrower will pay interest on outstanding amount of the
Loan on each Interest Settlement Date and the rate of interest per
month on the Drawdown is 0.833% per month.

   (d) If the Borrower fails to pay any sum payable under the
Agreement when due, the Borrower will pay interest on such sum from
the due date to the date of actual payment, at the rate per month
determined by the Lender to be 0.833%, 10% per annum on a daily
basis, based on 360 days per calendar year and payable on demand.

Mr. Bellas believes that the terms offered by the Lender are
substantially more favorable than what the Debtor could expect from
other lenders, since the Lender is not seeking a security interest
or lien on Debtor's assets in favor of the Lender.  Mr. Bellas
contends that the Debtor needs this funding to pay liabilities and
to fund its working capital needs in order to allow it to reopen
the casino portion of the business.  He further contends that
without the postpetition financing requested, the Debtor has
insufficient cash liquidity to achieve its reorganization under
Chapter 11.

Hong Kong Entertainment (Overseas) Investment is represented by:

          Timothy H. Bellas, Esq.
          LAW OFFICE OF TIMOTHY H. BELLAS, LLC
          JET Realty Bldg., Suite 204
          P.O. Box 502845
          Saipan, MP 96950
          Telephone: (670)323-2115
          E-mail: timothy@bellaslawfirm.com

                   About Hong Kong Entertainment

Hong Kong Entertainment (Overseas) Investment, Ltd., filed a
Chapter 11 bankruptcy petition (Bankr. D. NMI Case No. 15-00006) on
Dec. 11, 2015.  The petition was signed by Chun Wai Chan as
chairman of the Board of Directors and president.  Timothy H.
Bellas, LLC represents the Debtor as counsel.  Judge Ramona V.
Manglona has been assigned the case.


JHK INVESTMENTS: Court Okayed Cash Use in December
--------------------------------------------------
Judge Alan H. W. Shiff of the U.S. Bankruptcy Court for the
District of Connecticut, Bridgeport Division, authorized JHK
Investment LLC's preliminary use of cash collateral, from Dec. 1,
2015 through Dec. 31, 2015, and provided adequate protection.
Bay City Capital Fund V, L.P., and Bay City Capital Fund V Co.
Investment Fund L.P., asserts first priority secured claim against
all of JHK's assets, including JHK's cash and accounts receivable.
JHK alleges that it is essential to JHK's business and operations,
and the preservation of the value of its assets, that it obtain a
preliminary order authorizing it to use cash receipts to pay
business expenses necessary to avoid irreparable harm to the
estate.

Judge Shiff authorized JHK to use cash collateral, including
proceeds from JHK's accounts receivable, which cash collateral may
be subject to the liens of Bay City.  JHK is permitted to use any
cash collateral in accordance with a Budget, in the amount of
$17,912, and with a variance of 10% permitted for the period from
Dec. 1, 2015 through Dec. 31, 2015.

In exchange for the preliminary use of cash collateral by JHK, and
as adequate protection for Bay City's interests therein, Judge
Shiff granted Bay City replacement and/or substitute liens in all
postpetition assets of JHK and proceeds thereof, excluding any
bankruptcy avoidance causes of action, and such replacement liens
shall have the same validity, extent and priority that Bay City
possessed as to said liens on the Petition Date.  In addition, JHK
will make certain adequate protection payments on behalf of Bay
City in the month of December.  The adequate protection payments
will be to support/protect collateral of Bay City which is not
property of the JHK estate, but is collateral for the JHK
obligation to Bay City.

Eleuthera Administrative Company, LLC, as Administrative Agent for
Bay City Capital Fund V, L.P. And Bay City Capital Fund V
Co-Investment Fund, L.P. is represented by:

          Daniel Guyder, Esq.
          John Kibler, Esq.
          ALLEN & OVERY LLP
          1221 Avenue of the Americas
          New York, NY 10020
          Telephone: (212)610-6300
          Facsimile: (212)610-6399
          E-mail: Daniel.guyder@allenovery.com
                 John.kibler@allenovery.com

                  - and -

          Kathleen M. LaManna, Esq.
          SHIPMAN & GOODWIN LLP
          One Constitution Plaza
          Hartford, CT 06103
          Telephone: (860)251-5000
          Facsimile: (860)251-5099
          E-mail:klamanna@goodwin.com

JHK Investments is represented by:

          Craig I. Lifland, Esq.
          HALLORAN & SAGE LLP
          225 Asylum Street
          Hartford, CT 06103
          Telephone: (860)241-4044
          Facsimile: (860)548-0006
          E-mail: lifland@halloransage.com

                      About JHK Investments

JHK Investments, LLC, filed a Chapter 11 petition (Bankr. D. Conn.
Case No. 12-51608) in Bridgeport, Conn., on Aug. 29, 2012,
estimating under $100 million in assets and more than $10 million
in liabilities.  Bankruptcy Judge Alan H. Shiff presides over the
case.  James Berman, Esq., Lawrence S. Grossman, Esq., Craig I.
Lifland, Esq., and Aaron Romney, Esq., at Zeisler & Zeisler, P.C.,
represent the Debtor.

Westport, Connecticut-based JHK is an investment company founded
by the former senior management team of United States Surgical
Corporation.  Founded by Leon C. Hirsch in 1963, USSC became a
global medical device manufacturer with sales exceeding
$1.2 billion and employing $4,000 Connecticut residents.  The
Debtor disclosed $38,690,639 in assets and $32,127,278 in
liabilities as of the Chapter 11 filing.

Following the success of USSC, Mr. Hirsch and two other senior
USSC executives created JHK in order to produce and develop new
markets and penetrate established markets throughout the world for
high-tech medical devices.  JHK owns equity in several start-up
medical subsidiaries.  The start-ups include Interventional
Therapies, LLC, Auditory Licensing Company, LLC, Biowave
Corporation, Gorham Enterprises, LLC, and American Bicycle Group,
LLC.

Bay City claims to be owed $31 million for funding provided to the
Debtor since January 2011.  The principals at JHK -- Mr. Hirsch,
Turi Josefsen, and Robert A. Knarr -- guaranteed JHK's
obligations, pledged the property in Wilton, Connecticut to secure
obligations under the guaranty, and pledged all equity interests
of JHK.

In March 2012, Eleuthera, in its capacity as administrative agent
for Bay City, declared an event of default as a result of the
passage of the maturity date and the failure to pay the entire
amount outstanding.  On Aug. 28, 2012, Bay City and Eleuthera
purported to exercise the pledge agreements insofar as they
purported to register the Principals' interest in JHK in the name
of Eleuthera, as nominee for Bay City, and purported to reserve
their right to exercise voting rights in JHK.


LEXI DEVELOPMENT: Court Approves Kula & Associates as Counsel
-------------------------------------------------------------
The Hon. A. Jay Cristol of the U.S. Bankruptcy Court for the
Southern District of Florida approved the ex parte application of
Lexi Development Company, Inc. to employ Elliot B. Kula, W. Aaron
Daniel and Kula & Associates, P.A. as counsel to represent the
Debtor regarding current and potential appellate issues in the
United States Bankruptcy Court, the United States District Court
and the United States Court of Appeals for the Eleventh Circuit.

Mr. Kula is a partner at Kula & Associates and his hourly rate for
this engagement will be $500. Mr. Daniel is an associate at Kula &
Associates with an hourly rate of $275.

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

Kula & Associates has previously been retained by Scott Greenwald,
principal of the Debtor, individually, to consult with the Debtor
in appellate related matters in connection with the Adversary
Proceeding, and has been paid for these services directly by Mr.
Greenwald. Specifically, Kula & Associates received $10,000 on
October 31, 2014, $5,408 on February 10, 2015, and $8,797.50 on
July 16, 2015 for a total of $24,205.50. In addition, the Applicant
has billed Mr. Greenwald $2,422 and has an additional $14,350 in
fees for work performed, for a total amount owed of $16,772, for
which Kula & Associates will be seeking payment from Mr. Greenwald
individually.

Mr. Kula 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.

Kula & Associates can be reached at:

       Elliot B. Kula, Esq.
       KULA & ASSOCIATES, P.A.
       11900 Biscayne Blvd., Suite 310
       Miami, FL 33181
       Tel: (305) 354-3858, ext. 302
       E-mail: elliot@kulalegal.com

                      About Lexi Development

South Miami, Florida-based Lexi Development Company, Inc., owns
and is developing a 164 Unit, 19-story, mixed-use residential and
retail bay view condominium development at 1700 Kennedy Causeway,
North Bay Village, Florida, known as "The Lexi".  It filed for
Chapter 11 bankruptcy protection on June 23, 2010 (Bankr. S.D.
Fla. Case No. 10-27573).  Joshua W. Dobin, Esq., at Meland Russin
& Budwick, P.A., in Miami, Florida, serves as counsel.  In its
schedules, the Debtor disclosed $22,601,336 in total assets and
$21,558,876 in total liabilities as of the Petition Date.


MGM RESORTS: Amends Bylaws to Include Proxy Access Process
----------------------------------------------------------
The Board of Directors of MGM Resorts International approved and
adopted amendments to the Company's Bylaws, effective as of
Jan. 13, 2016, to implement "proxy access," a means for the
Company's stockholders to include stockholder-nominated director
candidates in the Company's proxy materials for annual meetings of
stockholders.  The Amended and Restated Bylaws include a new
Section 12(b) of Article I, which sets forth the proxy access
process.

Pursuant to Section 12(b)(2) of Article I of the Amended and
Restated Bylaws, proxy access will first be available to
stockholders for the Company's 2016 annual meeting of stockholders
for director nominees submitted by stockholders through the proxy
access process no earlier than Jan. 15, 2016, and no later than
Feb. 15, 2016, subject to the further requirements set forth in
Section 12(b) of Article I of the Amended and Restated Bylaws.

Section 12(b) of Article I of the Amended and Restated Bylaws
generally permits a stockholder, or group of not more than 20
stockholders, meeting specified eligibility requirements, to
include up to two director nominees or, if greater than two, 20% of
the number of directors in office as of the last day a notice for
nomination may be timely received in the Company's proxy materials
for annual meetings of its stockholders.  In order to be eligible
to use the proxy access process, an eligible stockholder must,
among other requirements:

   * have owned 3% or more of the Company's outstanding common   
     stock continuously for at least three years;

   * represent that such stock was acquired in the ordinary course

     of business and not with the intent to change or influence
     control at the Company and that such eligible stockholder
     does not presently have such intent; and

   * provide to the Company a notice including required
     information and requesting the inclusion of stockholder
     nominees in the Company's proxy materials:

       -- for the 2016 annual meeting of stockholders, not earlier

          than Jan. 15, 2016, and not later than Feb. 15, 2016,
          and

       -- for annual meetings of stockholders held in 2017 and
          later, not less than 120 days nor more than 150 days
          prior to the anniversary of the date of the proxy
          statement for the prior year's annual meeting of
          stockholders.

Additionally, stockholder nominees must be independent and meet
specified criteria and stockholders will not be entitled to utilize
the proxy access process for an annual meeting of stockholders if
the Company receives notice through its advance notice bylaw
provision set forth in Section 12(a) of the Amended and Restated
Bylaws that a stockholder intends to nominate a director at such
meeting.  An eligible stockholder may also include a written
statement of 500 words or less in support of the candidacy of the
proposed stockholder nominees.  Use of the proxy access process to
submit stockholder nominees is subject to additional eligibility,
procedural and disclosure requirements set forth in Section 12 of
the Amended and Restated Bylaws.

Certain revisions have also been made to the advance notice
provisions in Section 12(a) of Article I of the Amended and
Restated Bylaws relating to requirements for stockholder-nominated
director candidates for purposes of consistency with the proxy
access process and to include a requirement that the candidate be
eligible to be qualified by applicable gaming and regulatory
authorities.  The Amended and Restated Bylaws also reflect other
technical and administrative changes.

A copy of the Company's Amended and Restated Bylaws as of Jan. 13,
2016, is available at http://is.gd/X67G4B

                        About MGM Resorts

MGM Resorts International (NYSE: MGM) a global hospitality
company, operating a portfolio of destination resort brands
including Bellagio, MGM Grand, Mandalay Bay and The Mirage.  The
Company also owns 51% of MGM China Holdings Limited, which owns
the MGM Macau resort and casino and is in the process of
developing a gaming resort in Cotai, and 50% of CityCenter in Las
Vegas, which features ARIA resort and casino.  For more
information about MGM Resorts International, visit the Company's
Web site at www.mgmresorts.com.

MGM Resorts reported a net loss attributable to the Company of
$156.60 million in 2013 following a net loss attributable to the
Company of $1.76 billion in 2012.

As of June 30, 2015, the Company had $27.1 billion in total assets,
$17.9 billion in total liabilities, $5 million in redeemable
noncontrolling interest and $9.1 billion in total stockholders'
equity.

                         Bankruptcy Warning

The Company stated in its 2013 Annual Report, "The agreements
governing our senior secured credit facility and other senior
indebtedness contain restrictions and limitations that could
significantly affect our ability to operate our business, as well
as significantly affect our liquidity, and therefore could
adversely affect our results of operations.  Covenants governing
our senior secured credit facility and certain of our debt
securities restrict, among other things, our ability to:

   * pay dividends or distributions, repurchase or issue equity,
     prepay certain debt or make certain investments;

   * incur additional debt;

   * incur liens on assets;

   * sell assets or consolidate with another company or sell all
     or substantially all assets;

   * enter into transactions with affiliates;

   * allow certain subsidiaries to transfer assets; and

   * enter into sale and lease-back transactions.

Our ability to comply with these provisions may be affected by
events beyond our control.  The breach of any such covenants or
obligations not otherwise waived or cured could result in a
default under the applicable debt obligations and could trigger
acceleration of those obligations, which in turn could trigger
cross defaults under other agreements governing our long-term
indebtedness.  Any default under our senior secured credit
facility or the indentures governing our other debt could
adversely affect our growth, our financial condition, our results
of operations and our ability to make payments on our debt, and
could force us to seek protection under the bankruptcy laws."

                           *     *     *

As reported by the TCR on Nov. 14, 2011, Standard & Poor's Ratings
Services raised its corporate credit rating on MGM Resorts
International to 'B-' from 'CCC+'.   In March 2012, S&P revised
the outlook to positive from stable.

"The revision of our rating outlook to positive reflects strong
performance in 2011 and our expectation that MGM will continue to
benefit from the improving performance trends on the Las Vegas
Strip," S&P said.

In March 2012, Moody's Investors Service affirmed its B2 corporate
family rating and probability of default rating.  The affirmation
of MGM's B2 Corporate Family Rating reflects Moody's view that
positive lodging trends in Las Vegas will continue through 2012
which will help improve MGM's leverage and coverage metrics,
albeit modestly. Additionally, the company's declaration of a $400
million dividend ($204 million to MGM) from its 51% owned Macau
joint venture due to be paid shortly will also improve the
company's liquidity profile. The ratings also consider MGM's
recent bank amendment that resulted in about 50% of its
$3.5 billion senior credit facility being extended one year from
2014 to 2015.

As reported by the TCR on Sept. 29, 2014, Fitch Ratings had
upgraded MGM Resorts International's (MGM) and MGM China Holdings
Ltd's (MGM China) IDRs to 'B+' from 'B' and 'BB' from 'BB-',
respectively.  Fitch's upgrade of MGM's IDR to 'B+' and the
Positive Outlook reflect the company's strong performance on the
Las Vegas Strip and in Macau as well as Fitch's longer-term
positive outlooks for these markets.


MOG PRODUCING: Case Summary & 4 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: MOG Producing LP
        P.O. Box 557
        Corpus Christi, TX 78403

Case No.: 16-50010

Chapter 11 Petition Date: January 18, 2016

Court: United States Bankruptcy Court
       Southern District of Texas (Laredo)

Judge: Hon. David R Jones

Debtor's Counsel: Allan L Potter, Esq.
                  ATTORNEY AT LAW
                  P O Box 3159
                  Corpus Christi, TX 78463
                  Tel: 361-888-8203
                  Fax: 361-288-2104
                  Email: ecf@allanlpotter.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by MOG Management LLC as General Partner
John Newman, president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/txsb16-50010.pdf


MORGANS HOTEL: Amends Employment Agreements with COO and EVP
------------------------------------------------------------
Morgans Hotel Group Co. entered into amended and restated
employment agreements with Joshua Fluhr, the Company's chief
operating officer, and Meredith L. Deutsch, the Company's executive
vice president, general counsel and corporate secretary on Jan. 14,
2016.  The Agreements replace in their entirety the prior
agreements the Company had entered into with each of Mr. Fluhr and
Ms. Deutsch.

The Agreements are generally consistent with the executives'
previous employment agreements with the Company, and the Agreements
also:

   (i) reflect the executives' titles the executives' previously-
       agreed (and current) base salaries and target bonuses,
       which are $400,000 per annum and 50% of base salary for
       each of the named executives;

  (ii) do not have any fixed contract term;

(iii) increase each executive's cash severance payments from six
       to 12 months of base salary continuation in the event of a
       termination of the executive's employment by the Company
       without cause or by the executive for good reason, each as
       defined in the Agreements, with a corresponding increase in
       Ms. Deutsch's health care continuation payment;

  (iv) provide that the named executives will be entitled to a
       pro-rata annual discretionary bonus for the year of
       termination upon a severance-entitling termination;

   (v) provide for (x) accelerated vesting of all unvested equity
       granted to Mr. Fluhr and Ms. Deutsch prior to the date of
       the Agreements, and, solely with respect to Mr. Fluhr, any
       restricted stock units granted to him as part of his annual
       bonus upon a severance-entitling termination, and (y) pro-
       rata vesting of all other outstanding equity awards upon a
       severance-entitling termination or a termination of the
       executive's employment due to death or disability (as
       defined in the Agreements) (except in the case of a
       severance-entitling termination within 12 months of a
       change of control, upon which all unvested equity
       outstanding at the time of the change in control will vest
       upon termination in accordance with the Company's equity
       plan);

  (vi) provide that the named executives will be entitled to six
       months of salary continuation payments upon a termination
       due to death; and

(vii) solely with respect to Mr. Fluhr, in addition to the other

       post-employment covenants in his prior agreement, clarifies
       that he will only be subject to his post-employment
       noncompetition covenant upon a voluntary resignation by him
       without "good reason" upon continued payment of his base
       salary by the Company during the six-month post-employment
       non-competition period.

                     About Morgans Hotel Group

Based in New York, Morgans Hotel Group Co. (Nasdaq: MHGC) --
http://www.morganshotelgroup.com/-- is widely credited as the
creator of the first "boutique" hotel and a continuing leader of
the hotel industry's boutique sector.  Morgans Hotel Group
operates and owns, or has an ownership interest in, Morgans,
Royalton and Hudson in New York, Delano and Shore Club in South
Beach, Mondrian in Los Angeles and South Beach, Clift in San
Francisco, Ames in Boston, and Sanderson and St Martins Lane in
London.  Morgans Hotel Group and an equity partner also own the
Hard Rock Hotel & Casino in Las Vegas and related assets.  Morgans
Hotel Group also manages hotels in Isla Verde, Puerto Rico and
Playa del Carmen, Mexico.  Morgans Hotel Group has other property
transactions in various stages of completion, including projects
in SoHo, New York and Palm Springs, California.

Morgans Hotel reported a net loss attributable to common
stockholders of $66.6 million on $235 million of total revenues for
the year ended Dec. 31, 2014, compared with a net loss attributable
to common stockholders of $58.5 million on $236 million of total
revenues during the prior year.

As of Sept. 30, 2015, the Company had $515 million in total assets,
$774 million in total liabilities and a $259 million total deficit.


PACIFIC EXPLORATION: E&G Commences Tender Offers for Restructuring
------------------------------------------------------------------
EIG Pacific Holdings Ltd. (the "Offeror"), a Cayman Islands limited
company and subsidiary of Harbour Energy Ltd. ("Harbour Energy"),
on Jan. 13 disclosed that it has commenced tender offers and
proposed to sponsor a restructuring of Pacific Exploration and
Production Corp (TSX: PRE) ("Pacific E&P").  Harbour Energy,
managed by EIG Global Energy Partners ("EIG"), believes that
Pacific E&P faces significant near-term insolvency concerns and
requires a large infusion of new capital in order to restructure
its balance sheet, avoid value-destructive asset-level
reorganizations or distressed sales, and degradation of Pacific
E&P's assets through under-investment and deferred maintenance.  As
of September 30, 2015, Pacific E&P had approximately $5.4 billion
of debt outstanding, including $4.10 billion aggregate principal
amount of senior bonds that are trading at levels equivalent to
approximately thirteen cents on the dollar as of January 13, 2016,
indicating that no value remains in its equity.  Harbour Energy and
EIG are committed to investing in Pacific E&P to ensure that its
operations remain intact, partnerships are maintained and, upon
restructuring, Pacific E&P is once again positioned for operational
excellence and growth.

R. Blair Thomas, CEO of EIG and Co-Chairman of Harbour Energy's
Board of Directors, said, "We believe Pacific E&P is on the verge
of insolvency and out of other options.  We have an appreciation
for the company and its operations, partners and stakeholders and
are committed to shepherding the company through an expeditious
reorganization that will permit it to continue operating, remain
intact and thrive once again.  We are offering to inject
substantial capital by acquiring the senior notes of the company
and sponsoring an overall reorganization of Pacific E&P.  We hope
to work with the Board and management to ensure continuity, job
preservation and an efficient restructuring process.  EIG, through
Harbour Energy, is uniquely positioned to support Pacific E&P in
making the necessary financial and operational decisions to restore
Pacific E&P's credit quality and allow the company to get back to
the business of growth."

As part of this process, Harbour Energy has commenced tender offers
to purchase for cash, subject to certain terms and conditions, any
and all of the outstanding senior notes of Pacific E&P, consisting
of approximately $4.10 billion aggregate principal amount of (i)
5.375% Senior Notes due 2019 (the "2019 Notes"), (ii) 7.250% Senior
Notes due 2021 (the "2021 Notes"), (iii) 5.125% Senior Notes due
2023 (the "2023 Notes") and (iv) 5.625% Senior Notes due 2025 (the
"2025 Notes" and, together with the 2019 Notes, the 2021 Notes and
the 2023 Notes, the "Notes").  The offer to purchase each series of
Notes is referred to as a "Tender Offer" and collectively as the
"Tender Offers."

The Tender Offers are scheduled to expire at 5:00 p.m., Eastern
Standard Time, on February 10, 2016 (unless extended or earlier
terminated with respect to a Tender Offer, the "Expiration Date").
The Tender Offers are being made pursuant to an Offer to Purchase
dated January 13, 2016 (the "Offer to Purchase"), a related Letter
of Transmittal dated January 13, 2016 and a related Power of
Attorney dated January 13, 2016 (together, the "Tender Offer
Materials"), which set forth a more detailed description of the
Tender Offers.  Holders of the Notes are urged to carefully read
the Tender Offer Materials before making any decision with respect
to the Tender Offers.

The following table sets forth certain terms of the Tender Offers:

Description of Notes         CUSIP/ISIN Nos.     

5.375% Senior Notes due 2019 C71058AD0, 69480UAH0/USC71058AD08,  
                             US69480UAH05

7.250% Senior Notes due 2021 C71058AB4, 69480UAC1/USC71058AB42,  
                             US69480UAC18

5.125% Senior Notes due 2023 C71058AC2, 69480UAF4/USC71058AC25,
                             US69480UAF49

5.625% Senior Notes due 2025 C71058AF5, 69480UAK3/ USC71058AF55,
                             US69480UAK34

Outstanding Principal Amount(1)

U.S. $1,300,000,000
U.S. $690,000,000
U.S. $1,000,000,000
U.S. $1,114,000,000


Tender Offer                Early Tender       Total
Consideration(2)            Payment(2)         Consideration(2)(3)

U.S. $125.00                   U.S. $50.00           U.S. $175.00
U.S. $125.00                   U.S. $50.00           U.S. $175.00
U.S. $125.00                   U.S. $50.00           U.S. $175.00
U.S. $125.00                   U.S. $50.00           U.S. $175.00

(1) From Pacific E&P’s publicly filed interim financial
statements for the three months ended September 30, 2015, available
on SEDAR.

(2) Per U.S. $1,000 principal amount of Notes.

(3) Includes the Early Tender Payment for Notes validly tendered
and not validly withdrawn, prior to the Early Tender Date and
accepted for purchase.

The applicable total consideration (the applicable "Total
Consideration") payable for each $1,000 principal amount of Notes
validly tendered at or prior to 5:00 p.m., Eastern Standard Time,
on
January 27, 2016 (such date and time with respect to each Tender
Offer, as it may be extended, the "Early Tender Date") and accepted
for purchase pursuant to the Tender Offers will be the applicable
Total Consideration for such series of Notes set forth in the table
above.  The applicable Total Consideration includes the applicable
early tender payment for such series of Notes also set forth in the
table above (the applicable "Early Tender Payment").  Holders must
validly tender and not subsequently validly withdraw their Notes at
or prior to the Early Tender Date in order to be eligible to
receive the applicable Total Consideration for such Notes purchased
in the Tender Offers.

Subject to the terms and conditions of the Tender Offers, each
Holder who validly tenders and does not subsequently validly
withdraw their Notes at or prior to the Early Tender Date will be
entitled to receive the applicable Total Consideration if and when
such Notes are accepted for payment.  Holders who validly tender
their Notes after the Early Tender Date but at or prior to the
Expiration Date will be entitled to receive only the applicable
tender offer consideration equal to the applicable Total
Consideration less the applicable Early Tender Payment (the
applicable "Tender Offer Consideration") if and when such Notes are
accepted for payment.

Subject to all conditions to the Tender Offers having been
satisfied or waived by the Offeror, the Offeror will purchase Notes
that have been validly tendered by the Expiration Date on a date
promptly following the Expiration Date (the "Settlement Date").

To receive either the applicable Total Consideration or the
applicable Tender Offer Consideration, holders of the Notes must
validly tender and not validly withdraw their Notes prior to the
applicable Early Tender Date or the Expiration Date, respectively.
Notes tendered may be withdrawn from the applicable Tender Offer at
or prior to, but not after, 5:00 p.m., Eastern Standard Time, on
January 27, 2016, unless extended, by following the procedures
described in the Tender Offer Materials.

In addition to the applicable Tender Offer Consideration or the
applicable Total Consideration, as applicable, all holders of Notes
accepted for purchase pursuant to the Tender Offers will also
receive accrued and unpaid interest on those Notes from, and
including, the last interest payment date with respect to those
Notes to, but not including, the earliest of (i) the applicable
Settlement Date, (ii) the date on which Issuer Reorganization
Proceedings (as defined in the Offer to Purchase) are commenced or
(iii) February 19, 2016, as applicable.

The obligation of the Offeror to accept for purchase and to pay
either the applicable Total Consideration or applicable Tender
Offer Consideration pursuant to the Tender Offers is conditioned
upon, among other things, (i) the receipt by the Offeror of valid
tenders (that are not withdrawn) of a minimum of (a) 80.0%
aggregate outstanding principal amount of the Notes in the
aggregate and (b) 66.67% aggregate outstanding principal amount of
each series of the Notes; (ii) the Reorganization Condition (as
defined in the Offer to Purchase); and (iii) the other conditions
described under "Conditions to the Tender Offers" in the Offer to
Purchase.

The Offeror has retained Citigroup Global Markets Inc. as an
exclusive Financial Advisor in this transaction and to serve as
sole Dealer Manager for the Tender Offers.  MacKenzie Partners,
Inc. has been retained to serve as the Information and Tender Agent
for the Tender Offers.  Questions regarding the Tender Offers may
be directed to Citigroup Global Markets Inc. at 390 Greenwich
Street, 1st Floor, New York, New York 10013, Attn: Liability
Management Group, (800) 558-3745 (toll-free), (212) 723-6106
(collect).  Requests for the Tender Offer Materials may be directed
to MacKenzie Partners at (800) 322-2885 (toll-free), (212) 929-5500
(collect) or via email at tenderoffer@mackenziepartners.com

The Offeror is making the Tender Offers only by, and pursuant to,
the terms of the Tender Offer Materials.  None of the Offeror, the
Dealer Manager or the Information and Tender Agent make any
recommendation as to whether holders of the Notes should tender or
refrain from tendering their Notes.  Holders must make their own
decision as to whether to tender Notes and, if so, the principal
amount of the Notes to tender.  The Tender Offers are not being
made to holders of Notes in any jurisdiction in which the making or
acceptance thereof would not be in compliance with the securities,
blue sky or other laws of such jurisdiction.  In any jurisdiction
in which the securities laws or blue sky laws require the Tender
Offers to be made by a licensed broker or dealer, the Tender Offers
will be deemed to be made on behalf of the Offeror by the Dealer
Manager, or one or more registered brokers or dealers that are
licensed under the laws of such jurisdiction.

                   About EIG and Harbour Energy

Harbour Energy -- http://www.harbourenergy.com-- is an energy
investment vehicle formed by EIG Global Energy Partners ("EIG") and
the Noble Group to pursue control and near control investments in
high-quality upstream and midstream energy assets globally.
Harbour Energy is externally managed by EIG.  EIG specializes in
private investments in energy and energy-related infrastructure on
a global basis and had $14.3 billion under management as of
September 30, 2015.  During its 33-year history, EIG has invested
$21.4 billion in the sector through more than 300 projects or
companies in 35 countries on six continents.

                    About Pacific Exploration

Pacific Exploration and Production Corp. is a publicly held
Canadian company and a leading explorer and producer of natural gas
and crude oil.


PACIFIC EXPLORATION: S&P Cuts CCR to CC, Off CreditWatch Negative
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit and issue-level ratings on Pacific Exploration and
Production Corp (Pacific) to 'CC' from 'CCC+'.  S&P also removed
the rating from CreditWatch with negative implications. The outlook
is negative.

On Jan. 14, 2016, Pacific announced that it has elected to utilize
the 30 day grace period rather than make the interest payments due
on Jan. 19, 2016 and Jan. 26, 2016 of about $65 million.  Although
the company is still current on those obligations, S&P expects
default to be a virtual certainty.

Over the past 12 months, the sharp decline in oil prices has
dramatically weakened Pacific's financial risk profile.  More
importantly, S&P considers Pacific's liquidity position "weak".
Although the company's balance sheet showed about $500 million in
cash as of Sept. 30, 2015, S&P projects that the issuer's free
operating cash flow (FOCF) generation will not be sufficient to
meet its next major debt maturity, $1 billion due in 2017.

The negative outlook indicates that S&P will likely lower the
corporate credit rating to 'D' on Jan. 19, 2016, as S&P believes
that the default will be a general default and that the obligor
will fail to pay all or substantially all of its obligations as
they come due.



PARAGON OFFSHORE: Defers Interest Payment on $15.4M 2022 Notes
--------------------------------------------------------------
Paragon Offshore plc disclosed that it has elected to defer an
interest payment of approximately $15.4 million due on Jan. 15 on
its 6.75% senior unsecured notes maturing July 2022.  Under the
terms of the indenture governing the 2022 Notes, the company has a
30-day grace period after the interest payment date before an event
of default occurs.  Paragon believes it is in the best interests of
all stakeholders, including equity holders, to use the grace period
to continue to engage in discussions with its secured and unsecured
debtholders related to alternatives to improve Paragon's long-term
capital structure.

There is no assurance that the discussions with Paragon's
debtholders will result in an agreement before the end of the grace
period.  Paragon can elect to make the interest payment at any time
during the grace period.  However, if Paragon decides not to make
the interest payment by the end of the grace period, such failure
would result in the rights of the requisite holders of certain of
its indebtedness, including the 2022 Notes and revolving credit
facility, to accelerate the repayment of the principal amounts due
thereunder, which acceleration would result in a cross-default
under Paragon's term loan facility.

Randall D. Stilley, President and Chief Executive Officer of
Paragon, said, "Paragon has made the strategic choice to defer this
interest payment as constructive dialogue with debtholders
continues.  We believe we are making progress in achieving our
objective to improve the long-term capital structure of the
company. Paragon's substantial cash position at December 31, 2015,
more than $750 million, provides us with flexibility as we
negotiate.  Furthermore, it allows us to continue to meet all of
our obligations to suppliers, employees, and others as we deliver
safe, reliable, and effective operations to our customers in the
normal course of business."

                     About Paragon Offshore

Paragon -- http://www.paragonoffshore.com-- is a global provider
of offshore drilling rigs. Paragon's operated fleet includes 34
jackups, including two high specification heavy duty/harsh
environment jackups, and six floaters (four drillships and two
semisubmersibles).  Paragon's primary business is contracting its
rigs, related equipment and work crews to conduct oil and gas
drilling and workover operations for its exploration and production
customers on a dayrate basis around the world.  Paragon's principal
executive offices are located in Houston, Texas.  Paragon is a
public limited company registered in England and Wales with company
number 08814042 and registered office at 20-22 Bedford Row, London,
WC1R 4JS, England.


PARAGON OFFSHORE: S&P Lowers Corporate Credit Rating to 'CC'
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on offshore drilling company Paragon Offshore PLC to 'CC'
from 'CCC-' and the issue-level ratings on the company's term loan
to 'CCC-' from 'CCC'.  The recovery rating on the company's secured
debt remains '2', indicating S&P's estimate of substantial (70% to
90%, higher end of the range) recovery in the event of a payment
default.  The ratings on the company's unsecured debt remain 'C',
with a '6' recovery rating, indicating negligible (0%-10%) recovery
in the event of a default.  

"The 'CC' rating reflects Paragon's announcement that it has missed
its interest payment on its 6.75% senior notes due 2022, and our
belief that the company will either enter into default when the
30-day grace period ends, or negotiate a restructuring with its
creditors before the grace period expires," said Standard & Poor's
credit analyst Michael Tsai.  "If the company successfully
negotiates a restructuring, we would likely view the potential
transaction as distressed based on the company's current rating,
market indicators, and likelihood it would default without such a
transaction," said Mr. Tsai.

The negative outlook reflects the likelihood the company will enter
into a distressed exchange, distressed buyback, or pass the 30-day
grace period on the missed interest payment and default on its
debt.  In such scenarios, S&P could lower the ratings to 'SD' on an
exchange or buyback, or to 'D' on a default.

Although unlikely, S&P could raise the rating if the company made
the interest payment within the grace period and S&P believed the
company would not engage in a distressed buyback or exchange.



PEABODY ENERGY: S&P Lowers CCR to 'CCC+', Outlook Negative
----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on St. Louis-based Peabody Energy Corp. to 'CCC+'
from 'B'.  The outlook is negative.

S&P also lowered its issue-level rating on the company's first-lien
debt to 'B' from 'BB-'.  The '1' recovery rating on the debt
remains unchanged, indicating S&P's expectation of very high (90%
to 100%) recovery in the event of a payment default.

At the same time, S&P lowered the issue-level rating on the
company's second-lien debt to 'CCC+' from 'BB-'.  S&P also revised
the recovery rating on the debt to '4', indicating its expectation
of average (30% to 50%; upper half of the range) recovery in the
event of a payment default, from '1'.

In addition, S&P lowered the issue-level rating on the company's
senior unsecured debt to 'CCC-' from 'B-' and revised the recovery
rating on the debt to '6', indicating S&P's expectation of
negligible (0% to 10%) recovery in the event of a payment default,
from '5'.

S&P also lowered the issue-level rating on the company's junior
subordinated debt to 'CC' from 'CCC'; it remains three notches
below the corporate credit rating in accordance with S&P's notching
guidelines.

"The negative outlook mirrors our decidedly negative outlook for
the domestic coal sector over the next year.  A significant portion
of the supply base has been or will be undertaking restructuring
efforts that will alter the competitive landscape, making it more
challenging for companies with weaker balance sheets," said
Standard & Poor's credit analyst Chiza Vitta. "Peabody is pursuing
alternatives for its capital structure targeted toward reducing
leverage while maintaining liquidity, but the capital markets
remain unfavorable to the coal sector."

S&P would lower the rating if Peabody announced a debt purchase or
exchange, which S&P would view as distressed under its criteria.
S&P could also lower the rating if sources of liquidity fell short
of covering a year's worth of operations.  This could happen if
credit measures deteriorated to the point that financial covenants
restricted revolving credit facility availability.

S&P could revise the outlook to stable if its outlook on the coal
sector improved, particularly if operating performance strengthened
such that the company sustained positive free cash flow.  The
outlook would also be revisited, along with the rating, if Peabody
concluded any restructuring efforts.



PEROXYCHEM HOLDINGS: S&P Affirms 'B' CCR Then Withdraws Rating
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' long-term
corporate credit rating on PeroxyChem Holdings L.P. and then
withdrew the rating at the company's request.  At the same time,
S&P discontinued the issue-level and recovery ratings on the
company's associated debt.

The rating actions follow the repayment of the company's rated
loan.  S&P withdrew the corporate credit rating at the issuer's
request.



PETROQUEST ENERGY: S&P Lowers CCR to 'CC', Outlook Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Lafayette, La.-based PetroQuest Energy Inc. to 'CC' from
'B-'.  The outlook is negative.

S&P also lowered the issue-level rating on the company's $350
million 10% senior unsecured notes due September 2017 to 'CC' from
'B-'.

"The downgrade follows PetroQuest's announcement that it has
launched an exchange offer to existing holders of its $350 million
senior unsecured notes for cash and a new issue of 10% senior
secured second-lien notes due 2021," said Standard & Poor's credit
analyst Daniel Krauss.

The company is offering to repay noteholders 25% of par value in
cash, and offering an exchange of new second-lien senior secured
notes for the remaining portion of unsecured notes at 90% of par.
The closing date is expected to occur by the middle of February
2016.

S&P views the transaction as a distressed exchange because
investors will receive less than what was promised on the original
securities.  Additionally, in S&P's view, the offer is distressed,
rather than purely opportunistic, given the current challenging
operating environment, and meaningful upcoming debt maturities. The
company's revolving credit facility matures on Feb. 19, 2017, if
any portion of the company's senior unsecured notes are outstanding
at that date.

The outlook is negative.  Once the transaction has closed, S&P
expects to lower the corporate credit rating to 'SD' (selective
default) and the issue-level rating on the $350 million notes to
'D'.  S&P would then review the ratings based on the new capital
structure and consider an upgrade when there is more certainty that
the company is no longer pursuing distressed exchanges.  S&P also
expects to rate the new second-lien notes when there is more
detailed information about the resulting capital structure.

S&P could raise the ratings if the transaction does not close.



PICO HOLDINGS: Subsidiary Hires James Pirrello as CFO
-----------------------------------------------------
By Geoffrey J. Bailey -- gjbaileypb@hotmail.com -- On January 19,
2016, UCP, Inc., (UCP:NYSE) of San Jose, Calif., a subsidiary of
PICO Holdings, announced that James M. Pirrello will immediately
replace William J. La Herran, as UCP's Chief Financial Officer. Mr.
La Herran has agreed to assist UCP to facilitate the transition.

Mr. Pirrello brings over 30 years of financial and operating
experience at public and large regional homebuilders. Mr. Pirrello
will lead all aspects of UCP's finance, accounting, SEC reporting
and capital markets functions, as part of UCP's executive
management team. Mr. Pirrello has significant capital markets
experience, having negotiated over $3 billion of debt and equity
financing, and has led over 20 merger and acquisition transactions.
During his tenure as the Chief Financial Officer of public and
large privately-owned homebuilders, Mr. Pirrello has had
significant success implementing financial planning and analysis
systems, recapitalizations and competitive growth strategies. His
experience includes tenures at Pulte Homes, NVR, First Homebuilders
of Florida, The Fortress Group, BCB Homes and Sivage Homes.

Mr. Pirrello earned two MBAs, both with honors, from Columbia
University and the University of California, Berkeley. He has an
undergraduate degree in accounting from Juniata College.

"We are pleased to welcome Jamie, who brings a wealth of diverse
financial and operating experience across the homebuilding
industry, to our company," stated Dustin Bogue, Chief Executive
Officer of UCP. "Jamie joins us at a truly exciting time, as we
continue to make meaningful progress towards unlocking significant
value from our portfolio. Jamie's proven track record of
implementing and leading successful and disciplined financial
operations is a solid match for our long term growth strategy. We
look forward to his positive contributions as we enter new markets,
open additional communities and grow our deliveries in the coming
years."

Mr. Pirrello said, "I am thrilled to join the UCP team as the
company continues to rapidly expand its operations. UCP has made
immense strides to establish itself as a leader in its attractive
homebuilding markets. As the homebuilding industry continues to
strengthen as a result of strong employment growth, low interest
rates and significant pent-up demand, it is a great time join UCP
as the company capitalizes on the industry's resurgence. I look
forward to working with Dustin and the talented team at UCP as we
execute on the company's long term growth strategy."


PLATTSBURGH SUITES: $16.5MM Payment Deadline Moved to Jan. 15
-------------------------------------------------------------
Judge Robert E. Littlefield, Jr., of the U.S. Bankruptcy Court for
the Northern District of New York entered an order providing that
the order confirming Plattsburgh Suites, LLC's First Amended
Chapter 11 Reorganization Plan will be modified to provide that the
deadline for a $16,500,000 lump-sum payment due to Stabilis Fund
II, LLC, is extended from Dec. 31, 2015 through and including Jan.
15, 2016.

The Debtor had requested an extension of the payment deadline
that's 90 days after Stabilis Fund delivers certain documents.

Pursuant to the First Amended Plan and the Confirmation Order, the
Debtor agreed to provide a lump sum payment of $16,500,000 on or
before Dec. 31, 2015, plus $100,000 per month in adequate
protection payments from August through Dec. 31, 2015.  If the
Debtor pays the $16,500,000 early, the Debtor will receive a credit
for 50% of those unpaid adequate protection payments. In the event
Stabilis Fund receives timely payment for all amounts due and
owing, Stabilis agrees to assign its interest under any mortgage
encumbering the Debtor's real party to any third party providing
new financing.

According to the Debtor, the Confirmed Plan imposed certain duties
on Stabilis Fund arising out of the settlement in litigation.  The
confirmed Plan provided:

    "Stabilis Fund II will comply with all reasonable requests to
provide information and/or otherwise facilitate the efforts of the
Debtor and/or any of its members, principals or affiliated entities
to refinance the existing mortgage loan, the Real Property, or any
other related matters including, but not limited to, the execution
and/or delivery of documents required in connection therewith,
provided, however, that Stabilis Fund II will have no obligation to
comply with or facilitate any requests that are inconsistent with
the terms of the First Amended Plan."

In mid-December 2015, the Debtor filed an application to modify the
Confirmed Plan to extend the refinance period and to compel
Stabilis Fund II to executed and deliver documents.

In its application, the Debtor said that Stabilis Fund II has
failed to perform its obligations as set forth in the confirmed
Plan, and has acted in bad faith to frustrate the goal and purpose
of the settlement reached in Court and adopted into the Confirmed
Plan such that the Court should compel Stabilis Fund to execute the
required documents and to extend the refinance period to 90 days
after Stabilis Funds executes and delivers the documents into
escrow under the Plan.

Michael J. Uccellini, the executioner of the Estate of Walter F.
Uccellini, the majority owner of the Debtor, in a court filing,
said the Court should issue an order compelling Stabilis Fund II,
LLC, to execute and deliver the documents, and change the date for
the refinance from Dec. 31, 2015, to 90 days after the documents
are delivered to the Escrow Agent.  He added that since the delay
is due to Stabilis Fund's acts, the Debtor should not be required
to make any more payments other than the $16,500,000 due from the
refinance.

On Dec. 29, 2015, the Bankruptcy Judge entered an order providing
that:

   * The Confirmed Plan will be modified to provide that if the
Debtor pays to Stabilis Fund II, LLC the sum of $125,000.00 on or
before Dec. 31, 2015, then the last date for payment of the
$16,500,000 as provided in the Confirmed Plan will be extended from
Dec. 31, 2015 through and including Jan. 15, 2016.

   * The Escrow Agreement called for in the Confirmed Plan will be
amended to reflect this provision, and, once amended, will be
signed by the parties hereto on or before Dec. 29, 2015.

   * The Debtor will deliver the executed Quit Claim Deed and
associated documents necessary for recording, and Stabilis Fund II,
LLC shall deliver the Releases for the Debtor and for the Estate
and affiliates to the Title Company as called for in the Escrow
Agreement, with said respective documents to be received by the
Title Company on or before Dec. 30, 2015.

On Dec. 17, 2015, the Bankruptcy Judge entered an order providing
that the Bankruptcy Court takes no position on the issue of whether
the New York State Supreme Court should entered an order dissolving
the bond posted by Frank Zappala, Esq., in connection with the
receivership for Plattsburgh Suites, and determines that the
dissolution of such bond is not impacted by the Debtor's bankruptcy
proceeding and/or plan of reorganization.

The Debtor is represented by:

         Richard L. Weisz, Esq.
         HODGSON RUSS LLP
         677 Broadway, Suite 301
         Albany, NY 12207
         Tel: (518) 465-2333

                      About Plattsburgh Suites

Plattsburgh Suites, LLC, owns one parcel of real estate, an
off-campus student housing complex adjacent to SUNY Plattsburgh.
The property has been in a possession of a receiver since November
2013.

Plattsburgh Suites filed for Chapter 11 protection (Bankr. N.D.N.Y.
Case No. 15-10077) in Albany, New York, on Jan. 16, 2015.  The
bankruptcy filing was prompted by a foreclosure action commenced by
Stabilis Fund II, LLC, assignee of the first mortgage.

The case is assigned to Judge Robert E. Littlefield Jr.

The Debtor tapped Richard L. Weisz, Esq., at Hodgson Russ LLP, in
Albany, New York, as counsel.

In its amended schedules, the Debtor disclosed $15,700,000 in
assets and $32,088,977 in liabilities as of the Chapter 11 filing.


PLATTSBURGH SUITES: Court Approves Uncontested Amended Plan
-----------------------------------------------------------
Judge Robert E. Littlefield, Jr., of the U.S. Bankruptcy Court for
the Northern District of New York entered an order confirming
Plattsburgh Suites, LLC's First Amended Chapter 11 Reorganization
Plan.

No objections to confirmation of the Plan were filed, and all
voting classes accepted the Plan.

According to the Plan Confirmation Order, the Debtor and its
attorneys are required to appear before the Court on March 9, 2016,
at 10:30 a.m. and show cause why the Report Of Substantial
Consummation and the Application for Final Decree have not been
filed with the Court.

Secured creditor Stabilis Fund II, LLC, opposed the original
iteration of the Plan and filed a motion seeking dismissal of the
case but later reached a settlement with the Debtor.

Under the original iteration of the Plan, the Debtor proposed
paying the allowed secured claim of Stabilis Fund II on a 30-year
amortization schedule at 4.25%, with a balloon in 10 years.  Under
the First Amended Plan, which incorporates the settlement with
Stabilis, Stabilis will receive a lump sum payment of $16,500,000
on or before Dec. 31, 2015, plus $100,000 per month in adequate
protection payments from August through Dec. 31, 2015.  In the
event Stabilis receives timely payment for all amounts due and
owing, Stabilis agrees to assign its interest under any mortgage
encumbering the Debtor's real party to any third party providing
new financing.

As was proposed in the original Plan, the Debtor will pay all
allowed real property taxes in full with statutory interest of 12
percent on before Jan. 15, 2020.  Unsecured creditors are to
receive 1.5% per year for 10 years for a total distribution of 15%.
Insider unsecured creditors are to receive 0.5% per year for 10
years for a total distribution of 5%.  The current owners of the
Debtor would retain 100% membership in exchange for backstopping
payments to non-insider unsecured creditors.  

After approving the First Amended Disclosure Statement on July 28,
2015, the Court scheduled a hearing to consider confirmation of the
Plan on Aug. 26.

A copy of the order confirming the Plan entered Sept. 10, 2015, is
available for free at:

   http://bankrupt.com/misc/Plattsburgh_S_139_Plan_Conf_Order.pdf

A copy of the First Amended Disclosure Statement dated July 24,
2015, is available for free at:

   http://bankrupt.com/misc/Plattsburgh_S_120_1st_Am_DS.pdf

                      About Plattsburgh Suites

Plattsburgh Suites, LLC, owns one parcel of real estate, an
off-campus student housing complex adjacent to SUNY Plattsburgh.
The property has been in a possession of a receiver since November
2013.

Plattsburgh Suites filed for Chapter 11 protection (Bankr. N.D.N.Y.
Case No. 15-10077) in Albany, New York, on Jan. 16, 2015.  The
bankruptcy filing was prompted by a foreclosure action commenced by
Stabilis Fund II, LLC, assignee of the first mortgage.

The case is assigned to Judge Robert E. Littlefield Jr.

The Debtor tapped Richard L. Weisz, Esq., at Hodgson Russ LLP, in
Albany, New York, as counsel.

In its amended schedules, the Debtor disclosed $15,700,000 in
assets and $32,088,977 in liabilities as of the Chapter 11 filing.


PLOVER APPETIZER: Files Liquidation Trust Agreement
---------------------------------------------------
Plover Appetizer Co., f/k/a Golden County Foods, Inc., et al.,
filed with the U.S. Bankruptcy Court for the District of Delaware a
liquidation trust agreement as a supplement to their Joint Plan of
Liquidation.  A full-text copy of the Liquidation Trust Agremenet
is available at:

      http://bankrupt.com/misc/PLOVERplansupp0108.pdf

                    About Plover Appetizer Co.

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.

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

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 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.

                         *      *      *

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on Dec. 4, 2015, approved, on a conditional basis, the
Combined Disclosure Statement and Plan for Plover Appetizer Co.,
f/k/a Golden County Foods, Inc., and et al., for solicitation
purposes.

In order to be counted as votes to accept or reject the Combined
Disclosure Statement and Plan, all Ballots must be received no
later than Jan. 13, 2016.  The Confirmation Hearing is scheduled
for Jan. 20, at 10:00 a.m. (EST).  Objections to confirmation of
the Combined Disclosure Statement and Plan on any ground, including
adequacy of the disclosures, must be submitted no later than Jan.
13.


PLOVER APPETIZER: Michigan Treasury, Heinz Object to Plan
---------------------------------------------------------
The State of Michigan, Department of Treasury, and H.J. Heinz
Company LP object to Plover Appetizer Co.'s Joint Plan of
Liquidation and accompanying disclosure statement.

Michigan Treasury, which holds proofs of claim totaling $26,271,
objects to the language in Article VI, paragraph C of the Plan as
it attempts to improperly require allowance of claims as a
pre-condition to their payment.  Claims are automatically allowed
under Section 501 of the Bankruptcy Code absent an objection, the
Michigan Treasury asserts.  Moreover, Michigan Treasury objects to
the Plan as it fails to provide default language for the
non-payment of priority claims, which is warranted under Section
1123(a)(5)G) of the Bankruptcy Code.

Heinz, which is a co-party to the Debtor to a Co-Pack Agreement,
complains that the Plan is not confirmable to the extent it
purports to limit or restrict Heinz's rights of setoff and
recoupment.

Michigan Treasury is represented by:

         Bill Schuette, Esq.
         Attorney General
         Heather L. Donald, Esq.
         Assistant Attorney General
         3030 W. Grand Blvd., Suite 10-200
         Detroit, MI 48202
         Tel: (313) 456-0140

Heinz is represented by:

         Kurt F. Gwynne, Esq.
         REED SMITH LLP
         1201 Market Street, Suite 1500
         Wilmington, DE 19801
         Tel: (302) 778-7550
         Fax: (302) 778-7575
         Email: kfgwynne@reedsmith.com

                    About Plover Appetizer Co.

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.

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

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 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.

                         *      *      *

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on Dec. 4, 2015, approved, on a conditional basis, the
Combined Disclosure Statement and Plan for Plover Appetizer Co.,
f/k/a Golden County Foods, Inc., and et al., for solicitation
purposes.

In order to be counted as votes to accept or reject the Combined
Disclosure Statement and Plan, all Ballots must be received no
later than Jan. 13, 2016.  The Confirmation Hearing is scheduled
for Jan. 20, at 10:00 a.m. (EST).  Objections to confirmation of
the Combined Disclosure Statement and Plan on any ground,
including
adequacy of the disclosures, must be submitted no later than Jan.
13.


PRESCOTT VALLEY: Gets Approval of Financing Deal With IPFS
----------------------------------------------------------
Prescott Valley Events Center LLC received court approval to enter
into a premium finance agreement with IPFS Corp.

Under the agreement, IPFS will finance the payment of the company's
insurance premiums to maintain its property insurance policy.  The
total amount of the annual premiums for the policy is $51,559.  

The terms of the agreement include a down payment of $20,320, and
the remainder of $31,238 to be financed over 7 months at an
interest rate of 7.99%, renewing the policy for one year.

In exchange for the financing, IPFS will get a "first priority
security interest" in unearned premiums, according to court
filings.

The order was issued by Judge Madeleine Wanslee of the U.S.
Bankruptcy Court for the District of Arizona.

Judge Wanslee previously approved a $300,000 financing to get
Prescott Valley through bankruptcy.

The company initially received $55,000 of the loan from Fain
Signature Group after getting interim approval from the bankruptcy
judge in August last year.  The remaining $245,000 of the loan was
approved in September.

Fain Signature agreed to accept as security for the $245,000 loan
an administrative claim equal in priority to other administrative
claims after the U.S. trustee questioned Prescott Valley's initial
request to grant the lender an administrative priority claim.

The financing had also drawn opposition from Robert W. Baird &
Company Inc. and Southwest Securities Inc.  Both creditors had
criticized the company for not providing a budget showing its
projected income and expenses, and how it would use the funds,
according to court filings.

                About Prescott Valley Events Center

Prescott Valley Events Center, LLC, was formed in 2005 to construct
and operate a multi-purpose sports and entertainment arena known as
the Prescott Valley Events Center in Prescott Valley, Arizona.  The
Center opened in 2006 and plays host to concerts, community events,
trades shows, and sporting events, including several high school
championships.  Until 2014, the Center served as the home of the
Arizona Sundogs (CHL) ice hockey team.  The Center's seating
capacity is 6,200 for concerts, 4,810 for hockey, and 5,100 for
basketball.

The original members of PVEC were Prescott Valley Signature
Entertainment, LLC, and Global Entertainment Corporation, which
each owned 50 percent of the membership interests in PVEC.

PVEC sought Chapter 11 protection in Prescott, Arizona (Bankr. D.
Ariz. Case No. 15-10356) on Aug. 14, 2015.  The case is assigned to
Judge Madeleine C. Wanslee.

The Debtor tapped Carolyn J. Johnsen, Esq., and William Novotny,
Esq., at Dickinson Wright PLLC, in Phoenix, as counsel.

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


PTC SEAMLESS: Court Approves $4.025-Mil. Sale to BD Seamless
------------------------------------------------------------
PTC Seamless Tube Corp., formerly known as PTC Alliance Pipe
Acquisition LLC, sought and obtained from the U.S. Bankruptcy Court
for the District of Pennsylvania, approval for the sale of Acquired
Assets to BD Seamless Acquisition Co., LLC, free and clear of all
liens, claims encumbrances and other interests.

Judge Thomas P. Agresti previously entered an order approving the
bidding procedures.  The bid procedures set a $4 million minimum
cash bid, a Sept. 21 deadline for initial bids, a Sept. 22 auction,
and a Sept. 24 sale hearing.

The acquired assets consist of: (a) all the Debtor's receivables
and claims; (b) all inventory; (c) all of the owned real property
of the Debtor, and any part or parcel thereof; (d) all tangible
personal property; and (e) all intellectual property, among others.


The Asset Purchase Agreement contains, among others, these relevant
terms:

   (1) Payment of a purchase price of $4,025,000 plus a wind-down
amount equal to $200,000 to fund the Debtor's wind-down expenses.

   (2) Payment of a contingent amount, in the amount that is
necessary to pay allowed Chapter 11 administrative expenses and, in
connection with any structured dismissal of the Chapter 11 case,
allowed priority claims to the extent the allowed Chapter 11
administrative expenses and allowed priority claims are not able to
be paid from the purchase price or other assets of the Debtor's
bankruptcy estate.

   (3) All liens, claims and other interests of any kind in the
Acquired Assets will attach to the Wind-Down Amount with the same
validity, force and effect, and in the same order of priority,
which such Liens, Claims or interests now have against the Acquired
Assets, subject to any rights, claims and defenses the Debtor or
its estate, as applicable, may possess with respect thereto.

The Court affirmed that the Asset Purchase Agreement between the
Debtor and BD Seamless was negotiated, proposed and entered into by
the parties in good faith and from arm's-length bargaining
positions and without collusion, fraud, or unfair advantage.  BD
Seamless' offer constitutes the highest or otherwise best offer for
the Acquired Assets, and will provide the best recovery for the
Debtor's estate than would be provided by any other practical
available alternative.

Charbon Contracting LLC, a junior lienholder on the Debtor's
property located at 500 Frank Yost Lane, Hopkinsville, Kentucky,
objected to the Debtor's Motion ("Property").  Charbon contended
that it had a Mechanic's Lien, securing the full amount owed by the
Debtor to Charbon of $205,001, plus costs incurred in the
collection of that amount.  Charbon further contended that the
Property could not be sold free and clear of all liens as none of
the conditions described in 363(f)(1)-(5) is met.  Charbon
ultimately withdrew its objection to the Debtor's Motion.

PTC Seamless Tube Corp. is represented by:

          Eric A. Schaffer, Esq.
          Jared S. Roach, Esq.
          Joseph D. Filloy, Esq.
          REED SMITH LLP
          Reed Smith Centre
          225 Fifth Avenue, Suite 1200
          Pittsburgh PA 15222
          Telephone: (412)288-3131
          Facsimile: (412)288-3063
          E-mail: eschaffer@reedsmith.com
                  jroach@reedsmith.com
                  jfilloy@reedsmith.com

The Official Committee of Unsecured Creditors of PTC Seamless Tube
is represented by:

          Mark E. Freedlander, Esq.
          Michael J. Roeschenthaler, Esq.
          Frank J. Guadagnino, Esq.
          MCGUIRE WOODS LLP
          625 Liberty Avenue, 23rd Floor
          Pittsburgh, PA 15222
          Telephone: (412)667-6000
          E-mail: mfreedlander@mcguirewoods.com
                  mroeschenthaler@mcguirewoods.com
                  fguadagnino@mcguirewoods.com

Charbon Contracting is represented by:

          Kirk B. Burkley, Esq.
          BERNSTEIN-BURKLEY, P.C.
          707 Grant Street
          Suite 2200 Gulf Tower
          Pittsburgh, PA 15219-1900
          Telephone: (412)456-8100
          E-mail: kburkley@bernsteinlaw.com

                  About PTC Seamless Tube Corp.

PTC Seamless Tube Corp. was created by PTC Group Holdings Corp. to
enter into the seamless tube market, a new type of manufacturing
for PTC.  Seamless's executive and financial operations are based
in Wexford, Pennsylvania.  Seamless has a single plant located in
Hopkinsville, Kentucky, which is under construction.

PTC Group and its subsidiaries are leading manufacturers and
marketers of steel tubing, tubular shapes, bar products, fabricated
parts, and precision components.  PTC Group was formed in 2000 by
the merger of the Pittsburgh Tube Company and J.H. Roberts
Industries, Inc.  PTC Group has two direct subsidiaries: Seamless
and PTC Alliance Corp.

Seamless sought Chapter 11 bankruptcy protection (Bankr. W.D. Pa.
Case No. 15-21445) in Pittsburgh, Pennsylvania, on April 26, 2015.

Judge Carlota M. Bohm presides over the case.  PTC Group and
Alliance have not commenced Chapter 11 cases.

According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due Aug. 24, 2015.  The deadline for
governmental entities to file claims is Oct. 23, 2015.

The Debtor tapped Reed Smith, LLP as counsel; Candlewood Partners,
LLC as investment banker and financial advisor; and Logan &
Company, Inc., as claims, noticing, and balloting agent.

The Debtor disclosed $99,347,576 in total assets and $280,030,034
in liabilities in its schedules.

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


R & R INDUSTRIES: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: R & R Industries, Inc.
        500 Carswell Avenue
        Daytona Beach, FL 32117

Case No.: 16-00346

Chapter 11 Petition Date: January 18, 2016

Court: United States Bankruptcy Court
       Middle District of Florida (Orlando)

Debtor's Counsel: Scott W Spradley, Esq.
                  THE LAW OFFICES OF SCOTT W SPRADLEY, P.A.
                  PO Box 1
                  109 South 5th Street
                  Flagler Beach, FL 32136
                  Tel: (386) 693-4935
                  Fax: (386) 693-4937
                  Email: scott.spradley@flaglerbeachlaw.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Larry T. Beasley II, CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flmb16-00346.pdf


REICHHOLD HOLDINGS: Court Confirms Ch. 11 Plan of Liquidation
-------------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware on Jan. 13, 2016, issued a findings of fact,
conclusions of law, and order confirming the Second Amended Plan of
Liquidation proposed by Reichhold Holdings US, Inc., and its debtor
affiliates.

Roger L. Willis, the president and treasurer of Reichhold
Liquidation, Inc., in a declaration in support of confirmation,
stated that the Plan was overwhelmingly accepted by both the
holders of General Unsecured Claims and Convenience Claims, which
were the only two classes of claims entitled to vote on the Plan.
Mr. Willis further stated that the Plan also satisfies the
confirmation requirements under Section 1129 of the Bankruptcy
Code.

Kathleen M. Logan, president of Logan & Company, Inc., filed a
declaration stating that 91.89% of the holders of Class 3 - General
Unsecured Claims and 95.24% of the holders of Class 4 - Convenience
Claims voted to accept the Plan.  The Debtors and Alnor Oil
Company, Inc., which holds an unsecured claim in the amount of more
than $400,000, entered into a stipulation agreeing that the Alnor
Ballot will be deemed to have voted in favor of the Plan without
the election of treatment as a Class 4 Convenience Class Claim.

All objections, including those raised by King County, Washington,
Bank of America, N.A., the Internal Revenue Service, and the Galena
Park Independent School District, that were not resolved by
agreement or prior to the Confirmation Hearing are overruled.

BofA complained that the Plan is ambiguous in several respects as
to treatment of the Debtors' letter of credit obligations.  BofA
further complained that the Plan is also not clear whether any
residual interest in the LC Cash Collateral that remains after full
and final payment and satisfaction of all of the LC Obligations
will vest in the Liquidating Trust or Liquidating Reichhold upon
the effective date.

The IRS objected to Article X(F) of the Plan to the extent it fails
to preserve the setoff and recoupment rights of the IRS.
Confirmation, according to the IRS, of a plan does not extinguish
setoff claims when they are timely asserted.  The IRS objected to
Article I(B)(1.4) of the Plan to the extent the Plan purports to
set an administrative claims bar date for taxes described in
Section 503(b)(1)(B) and (C) in violation of Section 503(b)(1)(D)
of the Bankruptcy Code.

Galena, a holder of secured postpetition tax claims for the 2015
tax year in the amount of $199,361, objected to the confirmation of
the Plan to the extent it does not provide for the retention of its
tax liens securing the payment of the Postpetition Taxes until the
taxes are paid in full.  Galena also objected to the Plan to the
extent it fails to provide that the failure to pay the Postpetition
Taxes prior to delinquency as required under Texas law is an event
of default under the Plan and entitles Galena Park to take any and
all actions authorized under Texas law to collect the Postpetition
taxes, penalties, and interests in the courts of the State of
Texas.

King Country asserted that the Plan should provide that it should
not be precluded from filing counterclaims or asserting setoff
rights against Glacier Northwest, Inc.

Prior to the confirmation hearing, the Debtors filed supplements,
including Liquidating Trust Agreement, and List of Retained Causes
of Action.  Full-text copies of the Plan Supplements are available
at http://bankrupt.com/misc/REICHHOLDplansupp1223.pdf

BofA is represented by:

         Mark D. Collins, Esq.
         John H. Knight, Esq.
         RICHARDS, LAYTON & FINGER, P.A.
         One Rodney Square
         920 North King Street
         Wilmington, DE 19801
         Tel: (302) 651-7700
         Fax: (302) 651-7701
         E-mail: knight@rlf.com

             - and -

         C. Edwards Dobbs, Esq.
         James S. Rankin, Jr., Esq.
         PARKER HUDSON RAINER & DOBBS LLP
         1500 Marquis Two Tower
         285 Peachtree Center Avenue NE
         Atlanta, GA 30303
         Tel: (404) 523-5300
         Fax: (404) 522-8409
         E-mail: edobbs@phrd.com
                 jrankin@phrd.com

IRS is represented by:

         Charles M. Oberly, III, Esq.
         United States Attorney
         Ellen W. Slights, Esq.
         Assistant United States Attorney
         1007 Orange Street, Suite 700
         P.O. Box 2046
         Wilmington, DE 19899-2046

Galena is represented by:

         Owen M. Sonik, Esq.
         PERDUE, BRANDON, FIELDER, COLLINS & MOTT, L.L.P.
         1235 North Loop West, Suite 600
         Houston, TX 77008
         Tel: (713) 862-1860
         Fax: (713) 862-1429

King Country is represented by:

         Raymond H. Lemisch, Esq.
         KLEHR HARRISON HARVEY BRANZBURG LLP
         919 Market Street, Suite 1000
         Wilmington, DE 19801-3062
         Tel: (302) 426-1189
         Fax: (302) 426-9193
         E-mail: rlemisch@klehr.com

                     About Reichhold Holdings

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

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

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

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.

Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.  Logan &
Company is the company's claims and noticing agent.  The cases are
assigned to Judge Mary F. Walrath.

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

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

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


RESOLUTE FOREST: Moody's Affirms Ba3 CFR, Outlook Remains Stable
----------------------------------------------------------------
Moody's Investors Service lowered Resolute Forest Product Inc's
speculative-grade liquidity rating to SGL-2 (good liquidity) from
SGL-1 (very good liquidity).  The company's existing ratings,
including the Ba3 Corporate Family Rating, Ba3-PD Probability of
Default Rating, and Ba3 rating on the senior unsecured notes due
2023 were affirmed.  The outlook remains stable.

Ratings Lowered:

Issuer: Resolute Forest Products Inc.
  Speculative Grade Liquidity Rating, Lowered to SGL-2 from SGL-1

Outlook Actions:

Issuer: Resolute Forest Products Inc.
  Outlook, Remains Stable

Affirmations:

Issuer: Resolute Forest Products Inc.
  Probability of Default Rating, Affirmed Ba3-PD
  Corporate Family Rating, Affirmed Ba3
  Senior Unsecured Regular Bond/Debenture, Affirmed Ba3 (LGD4)

RATINGS RATIONALE

The lowering of Resolute's speculative-grade liquidity rating to
SGL-2 reflects Moody's view that the company will rely on its
credit facility to fund a portion of its cash requirements over the
next 12-18 months.  Factoring the cash financed acquisition of
Atlas Paper Holdings in November 2015 for $156 million, the company
had about $80 million of cash (as of September 30, 2015) and
availability of $448 million on its $600 million asset-based
revolving credit facility that matures in May 2020 (subject to
borrowing base availability, with no current borrowing and $34
million of letters of credit outstanding).  With higher than normal
near term capital expenditures related to the company's planned
$270 million construction of a new tissue paper machine and three
converting lines at its Calhoun, Tennessee pulp and paper mill,
Moody's estimates cash consumption of about $200 million over the
next four quarters.  Resolute has no near term debt maturities, and
its core debt (senior unsecured notes) does not mature until 2023.
A minimum fixed charge coverage ratio is the only financial
requirement under the credit facility and is triggered solely when
availability under the facility falls below 10% of facility size.
Moody's does not expect this covenant to be triggered in the next
12 months.

Resolute's Ba3 CFR reflects the company's strong market positions
in paper, pulp and lumber, integrated product diversity, good
liquidity and favorable cost position for most of the products that
it manufactures.  The rating is tempered by Moody's forecasted
adjusted leverage (5x over the next 12-18 months) given the
company's significant unfunded pension liabilities and the secular
decline of newsprint and specialty papers, which represents about
60% of the company's revenue.  This paper decline is somewhat
offset by the anticipated recovery of the company's wood products
segment as the US housing market strengthens and the
diversification provided by the company's growing market pulp, wood
products and tissue business.

The stable outlook reflects Moody's expectation that weaker results
from Resolute's paper business will be partially offset by higher
lumber and market pulp sales from the full ramp-up of completed
capacity expansion projects and from earnings from the recently
acquired tissue business.

An upgrade may be warranted if the company continues to diversify
away from the declining paper market, with adjusted debt to EBITDA
approaching 3x on a sustained basis (5.9x as of September 2015),
while maintaining good liquidity.  Resolute's ratings could face
downward ratings pressure if the company's liquidity position
deteriorates or if normalized adjusted Debt to EBITDA exceeds
5.5x.

The principal methodology used in these ratings was Global Paper
and Forest Products Industry published in October 2013.

Headquartered in Montreal (Quebec, Canada), Resolute produces
newsprint, commercial printing papers, market pulp, tissue and wood
products.  Net sales for the last twelve months ending September
2015 were $3.8 billion.



RESPONSE GENETICS: Court OKs Rosner Law as Panel's Counsel
----------------------------------------------------------
The Official Committee of Unsecured Creditors of Response Genetics,
Inc. sought and obtained permission from the Hon. Laurie S.
Silverstein of the U.S. Bankruptcy Court for the District of
Delaware to retain The Rosner Law Group LLC as Delaware counsel to
the Committee, nunc pro tunc to August 25, 2015.

The Committee requires Rosner Law to:

   (a) provide legal advise regarding local rules, practices, and  

       procedures and provide substantive and strategic advice on
       how to accomplish the Committee's goals in connection with
       the prosecution of this case, bearing in mind that the
       Court relies on Delaware counsel such as Rosner Law to be
       involved in all aspects of this bankruptcy case;

   (b) review, comment upon and/or prepare drafts of documents to
       be filed with the Court as Delaware counsel to the
       Committee and conform same to local practice and procedure;

   (c) appear in Court and at any meeting with the U.S. Trustee
       and any meeting of creditors at any given time on behalf of

       the Committee as its Delaware counsel;

   (d) perform various services in connection with the
       administration of these cases, including, without
       limitation, (i) preparing certificates of no objection,
       certifications of counsel, notices of fee applications and
       hearings, and hearing binders of documents and pleadings,
       (ii) monitoring the docket for filings and coordinating
       with Sheppard Mullin on pending matters that need
       responses, (iii) preparing and maintaining critical dates
       memoranda to monitor pending applications, motions, hearing

       dates and other matters and the deadlines associated with
       the same, and (iv) handling inquiries and calls from
       creditors and counsel to interested parties regarding
       pending matters and the general status of these cases and
       coordinating with Sheppard Mullin on any necessary
       responses;

   (e) review and conduct due diligence to vet the perfection of
       the security interests and liens asserted by Silicon Valley

       Bank on substantially all of the Debtor’s assets and

   (f) perform such other services assigned by the Committee, in
       consultation with Sheppard Mullin, to Rosner Law as
       Delaware counsel to the Committee or by Sheppard Mullin or
       Rosner Law.

Rosner Law will be paid at these hourly rates:

       Frederick B. Rosner           $250
       Scott Leonhardt               $250
       Julia Klein                   $250
       Frederick Sassler, paralegal  $200
       Law Clerk                     $200

Rosner Law will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Rosner Law agrees to cap its aggregate fees in this Chapter 11 Case
at $15,000; provided, however, the cap shall not apply to expenses
incurred.

Frederick B. Rosner, sole member of Rosner Law, 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.

Rosner Law can be reached at:

       Frederick B. Rosner, Esq.
       The Rosner Law Group LLC
       824 Market Street, Suite 810
       Wilmington, DE 19801
       Tel: (302) 777-1111
       E-mail: rosner@teamrosner.com

                      About Response Genetics

Los Angeles, California-based Response Genetics, Inc.
(otcqb:RGDX)-- http://www.responsegenetics.com-- is a  
CLIA-certified clinical laboratory focused on the development and
sale of molecular diagnostic testing services for cancer.  The
Company's technologies enable extraction and analysis of genetic
information derived from tumor cells stored as formalin-fixed and
paraffin-embedded specimens.  The Company's principal customers
include oncologists and pathologists.  In addition to diagnostic
testing services, the Company generates revenue from the sale of
its proprietary analytical pharmacogenomic testing services of
clinical trial specimens to the pharmaceutical industry.  

Response Genetics, fdba Bio Type, Inc., filed for Chapter 11
bankruptcy (Bankr. D. Del. Case No. 15-11663) on Aug. 9, 2015,
represented by James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP.  Canaccord Genuity, Inc., serves as its investment
banker; and Rust Consulting Omni Bankruptcy acts as its claims and
noticing agent.  

The Company disclosed total assets of $10.7 million and total debts
of $15.7 million.  The petition was signed by Thomas Bologna,
chairman and chief executive officer.

No request has been made for the appointment of a trustee or an
examiner in the cases, and no official committee has yet been
appointed by the Office of the U.S. Trustee.

                           *     *     *

Response Genetics executed a "stalking horse" agreement to sell all
of its business assets to Cancer Genetics, Inc., for $14 million,
comprised of a 50/50 split in value of cash and the common stock of
CGI.

CGI is represented by Kramer Levin Naftalis & Frankel LLP's James
A. Grayer, Esq.


RESPONSE GENETICS: Court OKs Sheppard Mullin as Committee Counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Response Genetics,
Inc. sought and obtained permission from the Hon. Laurie S.
Silverstein of the U.S. Bankruptcy Court for the District of
Delaware to retain Sheppard Mullin Richter & Hampton LLP as counsel
to the Committee, effective August 25, 2015.

The Committee requires Sheppard Mullin to:

   (a) assist, advise and represent the Committee in its
       consultations with the Debtor regarding the administration
       of the case;

   (b) assist, advise and represent the Committee in analyzing the

       Debtor's assets and liabilities, investigating the extent
       and validity of liens and participating in and reviewing
       any proposed asset sales, any asset disposition, financing
       arrangements and cash collateral stipulations or
       proceedings;

   (c) assist, advise and represent the Committee in any manner
       relevant to reviewing and determining the Debtor's rights
       and obligations under leases and other executory contracts;

   (d) assist, advise and represent the Committee in investigating

       the acts, conduct, assets, liabilities and the Debtor's
       financial condition, business operations and the
       desirability of the continuance of any portion of the
       business, and any other matter relevant to this case or to
       the formulation of a plan;

   (e) assist, advise and represent the Committee in its
       participation in the negotiation, formulation and drafting
       of a plan of liquidation or reorganization;

   (f) assist, advise and represent the Committee in the
       performance of all of its duties and powers under the
       Bankruptcy Code and the Bankruptcy Rules and in the
       performance of such other services as are in the interests
       of those represented by the Committee;

   (g) assist, advise and represent the Committee in the
       evaluation of claims and on any litigation matters; and

   (h) assist, advise and represent the Committee regarding such
       other matters and issues as may be necessary or requested
       by the Committee.

Sheppard Mullin will be paid at these hourly rates:

       Carren B. Shulman               $825
       Ori Katz                        $720
       Carrie Ross                     $480

Sheppard Mullin will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Carren B. Shulman, partner of Sheppard Mullin, 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.

Sheppard Mullin can be reached at:

       Carren B. Shulman, Esq.
       SHEPPARD MULLIN RICHTER & HAMPTON LLP
       30 Rockefeller Plaza
       New York, NY 10112
       Tel: (212) 653-8700
       E-mail: CShulman@sheppardmullin.com

                      About Response Genetics

Los Angeles, California-based Response Genetics, Inc.
(otcqb:RGDX)-- http://www.responsegenetics.com-- is a  
CLIA-certified clinical laboratory focused on the development and
sale of molecular diagnostic testing services for cancer.  The
Company's technologies enable extraction and analysis of genetic
information derived from tumor cells stored as formalin-fixed and
paraffin-embedded specimens.  The Company's principal customers
include oncologists and pathologists.  In addition to diagnostic
testing services, the Company generates revenue from the sale of
its proprietary analytical pharmacogenomic testing services of
clinical trial specimens to the pharmaceutical industry.  

Response Genetics, fdba Bio Type, Inc., filed for Chapter 11
bankruptcy (Bankr. D. Del. Case No. 15-11663) on Aug. 9, 2015,
represented by James E. O'Neill, Esq., at Pachulski Stang Ziehl &
Jones LLP.  Canaccord Genuity, Inc., serves as its investment
banker; and Rust Consulting Omni Bankruptcy acts as its claims and
noticing agent.  

The Company disclosed total assets of $10.7 million and total debts
of $15.7 million.  The petition was signed by Thomas Bologna,
chairman and chief executive officer.

No request has been made for the appointment of a trustee or an
examiner in the cases, and no official committee has yet been
appointed by the Office of the U.S. Trustee.

                           *     *     *

Response Genetics executed a "stalking horse" agreement to sell all
of its business assets to Cancer Genetics, Inc., for $14 million,
comprised of a 50/50 split in value of cash and the common stock of
CGI.

CGI is represented by Kramer Levin Naftalis & Frankel LLP's James
A. Grayer, Esq.


RG STEEL: Fails to Prove Ownership of Trumbull County Tax Refund
----------------------------------------------------------------
RG Steel Warren, LLC, filed petition for a writ of mandamus,
seeking a writ to require the Trumbull County Auditor to draw a
warrant on the County Treasurer for a tax refund in relator's
favor.  The Warren City School District intervened and filed a
motion for summary judgment, arguing that, as a matter of law, the
relator is not entitled to the tax refund.

In an Opinion dated December 28, 2015, which is available at
http://is.gd/yY9mn8from Leagle.com, the Court of Appeals of Ohio,
Eleventh District, Trumbull County, denied the writ of mandamus and
held that the District is entitled to summary judgment as the
Relator has failed to establish the existence of a genuine issue of
material fact regarding its ownership of the tax refund or its
entitlement to it.

The case is RG STEEL WARREN, LLC, Relator, v. ADRIAN S. BIVIANO, IN
HIS CAPACITY AS AUDITOR, TRUMBULL COUNTY, OHIO, et al.,
Respondents, No. 2014-T-0064, 2015-Ohio-5463

John P. Slagter, Esq. -- jslagter@bdblaw.com -- Buckingham,
Doolittle & Burroughs, LLC and Gregory P. Amend, Esq. --
gamend@bdblaw.com -- Buckingham, Doolittle & Burroughs, LLC, 1700
One Cleveland Center, 1375 East Ninth Street, Cleveland, OH
44114-1724 for Relator.

M. Colette Gibbons, Esq. -- colette.gibbons@icemiller.com -- Ice
Miller, LLP, 600 Superior Avenue East, Suite 1701, Cleveland, OH
44113 for Warren City School District.

                         About RG Steel

RG Steel LLC -- http://www.rg-steel.com/-- is the United States'  

fourth-largest flat-rolled steel producer with annual steelmaking
capacity of 7.5 million tons.  It was formed in March 2011
following the purchase of three steel facilities located in
Sparrows Point, Maryland; Wheeling, West Virginia and Warren,
Ohio, from entities related to Severstal US Holdings LLC.  RG
Steel also owns finishing facilities in Yorkville and Martins
Ferry, Ohio.  It also owned Wheeling Corrugating Company and has a
50% ownership in Mountain State Carbon and Ohio Coatings Company.

RG Steel along with affiliates, including WP Steel Venture LLC,
sought bankruptcy protection (Bankr. D. Del. Lead Case No. 12-
11661) on May 31, 2012.  Bankruptcy was precipitated by liquidity
shortfall and a dispute with Mountain State Carbon, LLC, and a
Severstal affiliate, that restricted the shipment of coke used in
the steel production process.

The Debtors estimated assets and debts in excess of $1 billion.
As of the bankruptcy filing, the Debtors owe (i) $440 million,
including $16.9 million in outstanding letters of credit, to
senior lenders led by Wells Fargo Capital Finance, LLC, as
administrative agent, (ii) $218.7 million to junior lenders, led
by
Cerberus Business Finance, LLC, as agent, (iii) $130.5 million on
account of a subordinated promissory note issued by majority owner
The Renco Group, Inc., and (iv) $100 million on a secured
promissory note issued by Severstal.

Judge Kevin J. Carey presides over the case.

The Debtors are represented in the case by Robert J. Dehney, Esq.,
and Erin R. Fay, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
and Matthew A. Feldman, Esq., Shaunna D. Jones, Esq., Weston T.
Eguchi, Esq., at Willkie Farr & Gallagher LLP, represent the
Debtors.  Conway MacKenzie, Inc., serves as the Debtors' financial
advisor and The Seaport Group serves as lead investment banker.
Donald MacKenzie of Conway MacKenzie, Inc., as CRO.  Kurtzman
Carson Consultants LLC is the claims and notice agent.

Wells Fargo Capital Finance LLC, as Administrative Agent, is
represented by Jonathan N. Helfat, Esq., and Daniel F. Fiorillo,
Esq., at Otterbourg, Steindler, Houston & Rosen, P.C.; and Laura
Davis Jones, Esq., and Timothy P. Cairns, Esq., at Pachuiski Stang
Ziehi & Jones LLP.

Renco Group is represented by lawyers at Cadwalader, Wickersham &
Taft LLP.

Kramer Levin Naftalis & Frankel LLP represents the Official
Committee of Unsecured Creditors.  Huron Consulting Services LLC
serves as the Committee's financial advisor.

The Debtor has sold off the principal plants.  The sale of the
Wheeling Corrugating division to Nucor Corp. brought in $7
million.  That plant in Sparrows Point, Maryland, fetched the
highest price, $72.5 million.  CJ Betters Enterprises Inc. paid
$16 million for the Ohio plant.  RG Steel Sparrows Point LLC has
received the green light to sell some of its assets to Siemens
Industry, Inc., which include equipment and related spare parts,
for $400,000.

A federal judge approved on Oct. 15, 2015, a structured settlement
of claims in RG Steel's Chapter 11 bankruptcy case that gives
United Steelworkers-related entities about 70% of the $17.4
million
total to be distributed to creditors.


SABINE OIL: Dispute Over Merger Sent to Mediation
-------------------------------------------------
Tiffany Kary, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that Sabine Oil & Gas Corp.'s lawsuit against Wilmington
Trust N.A. in its Chapter 11 bankruptcy will go to mediation, a
judge said, declining to rule on motions to dismiss the complaint.

According to the report, U.S. Bankruptcy Judge Shelley Chapman in
Manhattan court said she will defer ruling on a motion to dismiss
the lawsuit.

The dispute will go before retired U.S. Bankruptcy Judge Allan
Gropper for mediation, Judge Chapman said, the report related.
There is a chance of settlement in the "large and contentious"
bankruptcy, she said, the report cited.

               About Sabine Oil & Gas Corporation

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

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

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

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


SAMSON RESOURCES: Court Approves Deloitte & Touche as Auditor
-------------------------------------------------------------
Samson Resources Corporation, et al., sought and obtained
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Deloitte & Touche LLP as independent auditor,
nunc pro tunc to the September 16, 2015 petition date.

The Debtors require Deloitte & Touche to:

   (a) audit financial statements in accordance with the
       standards established by the Public Company Accounting
       Oversight Board (United States) or the American Institute
       of Certified Public Accountants, as applicable, for the
       year ending December 31, 2015; and

   (b) review the applicable Debtors' condensed interim
       financial information for each of the quarters in the year
       ending December 31, 2015.

Deloitte & Touche may also include accounting and financial
reporting research and consultation related to the restructuring
and related financing activities customarily provided by the
independent auditor as may be required in large and complex chapter
11 cases like the Debtors' that were not specifically contemplated
in the fee structure in the Engagement Letter (the "Out of Scope
Services").

The fees for the Deloitte & Touche, other than Out of Scope
Services, were initially anticipated to be approximately
$2,735,000. However, given the expansion of services due to the
commencement of these chapter 11 cases, Deloitte & Touche will
charge the base audit hourly rates set forth in the table below for
services other than Out of Scope Services, and consultation hourly
rates for the Out of Scope Services.

Base Audit Hourly Rates:

       Partner/Principal       $400
       Director                $350
       Senior Manager          $300
       Manager                 $250
       Senior Staff            $200-$225
       Staff                   $140-$170

Consultation Hourly Rates:

       Partner/Principal       $400-$700
       Director                $350-$500
       Senior Manager          $300-$450
       Manager                 $250-$375
       Senior Staff            $200-$300
       Staff                   $140-$240

Deloitte & Touche will also be reimbursed for reasonable
out-of-pocket expenses incurred.

The Debtors paid Deloitte & Touche approximately $700,000 in the
form of retainers in the 90 days prior to the Petition Date, and
Deloitte & Touche invoiced amounts have been applied against
Deloitte & Touche Retainer. As of the Petition Date, approximately
$470,000 of the Deloitte & Touche Retainer remained outstanding.

Carl Daugherty, partner of Deloitte & Touche, 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.

Deloitte & Touche can be reached at:

       Carl Daugherty
       DELOITTE & TOUCHE LLP
       100 S. Cincinnati Ave., Ste. 700
       Tulsa, OK 74103
       Tel: (918) 560-1400

                       About Samson Resources

Samson Resources Corporation, et al., filed Chapter 11 bankruptcy
petitions (D. Del. Lead Case No. 15-11934) on Sept. 16, 2015.
Philip W. Cook signed the petition as executive vice president and
chief financial officer.  The Debtors estimated assets and
liabilities of more than $1 billion.

Samson is an onshore oil and gas exploration and production company
with interests in various oil and gas leases primarily located in
Colorado, Louisiana, North Dakota, Oklahoma, Texas, and Wyoming.
The Operating Companies operate, or have royalty or working
interests in, approximately 8,700 oil and gas production sites.

Samson was acquired by KKR and Crestview from Charles Schusterman
in December 2011 for approximately $7.2 billion.  The investor
group provided approximately $4.1 billion in equity investments as
part of the purchase price.

Kirkland & Ellis LLP represents the Debtors as general counsel.
Klehr Harrison Harvey Branzburg LLP is the Debtors' local counsel.

Alvarez & Marsal LLC acts as the Debtors' financial advisor.
Blackstone Advisory Partners L.P. serves as the Debtors' investment
banker.  Garden City Group, LLC serves as claims and noticing agent
to the Debtors.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Samson Resources Corp. and its affiliated debtors to
serve on the official committee of unsecured creditors.


SAMSON RESOURCES: Court Approves PwC as Internal Controls Servicer
------------------------------------------------------------------
Samson Resources Corporation, et al., sought and obtained
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ PricewaterhouseCoopers LLP to serve as internal
controls servicer, nunc pro tunc to the September 16, 2015 petition
date.

PwC will provide, without limitation, services to support
compliance with Section 404 of the Sarbanes-Oxley Act of 2002:

   (a) update process and control documentation for in-scope
       processes;

   (b) perform walkthroughs of in-scope processes;

   (c) execute test plans approved by management over the
       operating effectiveness of key ICFR;

   (d) summarize potential control deficiencies identified in the
       design and operating effectiveness assessments of ICFR;
       and

   (e) provide on-going project management and reporting to
       senior management and the audit committee.

PwC's Fee Structure:

       Phase                                Expected Fees
       -----                                -------------  
       IA Planning, Coordination,
       Review, Reporting                    $62,400-$78,500

       Annual Risk Assessment               $7,850-$15,700
       Facilitation

       SOX Process
       Walkthroughs/Documentation           $62,800-$78,500

       Business Process
       SOX Controls Testing                 $227,650-$259,050

       IT SOX Controls Testing              $94,200-$125,600

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

Erik J. Hansen, partner of PwC, 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.

PwC can be reached at:

       Erik J. Hansen
       PRICEWATERHOUSECOOPERS LLP
       1000 Louisiana St., Suite 5800
       Houston, TX 77002-5021
       Tel: (713) 356 8041

                       About Samson Resources

Samson Resources Corporation, et al., filed Chapter 11 bankruptcy
petitions (D. Del. Lead Case No. 15-11934) on Sept. 16, 2015.
Philip W. Cook signed the petition as executive vice president and
chief financial officer.  The Debtors estimated assets and
liabilities of more than $1 billion.

Samson is an onshore oil and gas exploration and production company
with interests in various oil and gas leases primarily located in
Colorado, Louisiana, North Dakota, Oklahoma, Texas, and Wyoming.
The Operating Companies operate, or have royalty or working
interests in, approximately 8,700 oil and gas production sites.

Samson was acquired by KKR and Crestview from Charles Schusterman
in December 2011 for approximately $7.2 billion.  The investor
group provided approximately $4.1 billion in equity investments as
part of the purchase price.

Kirkland & Ellis LLP represents the Debtors as general counsel.
Klehr Harrison Harvey Branzburg LLP is the Debtors' local counsel.

Alvarez & Marsal LLC acts as the Debtors' financial advisor.
Blackstone Advisory Partners L.P. serves as the Debtors' investment
banker.  Garden City Group, LLC serves as claims and noticing agent
to the Debtors.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Samson Resources Corp. and its affiliated debtors to
serve on the official committee of unsecured creditors.


SAMSON RESOURCES: Hires Ernst & Young as Accounting Advisors
------------------------------------------------------------
Samson Resources Corporation, et al., seek authorization from the
U.S. Bankruptcy Court for the District of Delaware to employ Ernst
& Young LLP as fresh start accounting advisors, nunc pro tunc to
the September 16, 2015 petition date.

Ernst & Young will provide fresh start accounting and related
valuation services to the Debtors during these chapter 11 cases.
Ernst & Young will provide assistance with the accounting impact of
emergence from bankruptcy to allow the Debtors to apply fresh start
accounting in accordance with ASC 852.

Ernst & Young will be paid at these hourly rates:

       Partner/Principal          $645
       Executive Director         $570
       Senior Manager             $485
       Manager                    $425
       Senior                     $325
       Staff                      $200

Ernst & Young will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Kevin S. Corbett, partner of Ernst & Young, 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.

Ernst & Young can be reached at:

       Kevin S. Corbett
       ERNST & YOUNG LLP
       1401 McKinney St., Suite 1200
       Houston, TX 77010
       Tel: (713) 750-1500
       Fax: (713) 750-1501

                       About Samson Resources

Samson Resources Corporation, et al., filed Chapter 11 bankruptcy
petitions (D. Del. Lead Case No. 15-11934) on Sept. 16, 2015.
Philip W. Cook signed the petition as executive vice president and
chief financial officer.  The Debtors estimated assets and
liabilities of more than $1 billion.

Samson is an onshore oil and gas exploration and production company
with interests in various oil and gas leases primarily located in
Colorado, Louisiana, North Dakota, Oklahoma, Texas, and Wyoming.
The Operating Companies operate, or have royalty or working
interests in, approximately 8,700 oil and gas production sites.

Samson was acquired by KKR and Crestview from Charles Schusterman
in December 2011 for approximately $7.2 billion.  The investor
group provided approximately $4.1 billion in equity investments as
part of the purchase price.

Kirkland & Ellis LLP represents the Debtors as general counsel.
Klehr Harrison Harvey Branzburg LLP is the Debtors' local counsel.

Alvarez & Marsal LLC acts as the Debtors' financial advisor.
Blackstone Advisory Partners L.P. serves as the Debtors' investment
banker.  Garden City Group, LLC serves as claims and noticing agent
to the Debtors.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Samson Resources Corp. and its affiliated debtors to
serve on the official committee of unsecured creditors.


SAMUEL WYLY: 2nd Cir. Partially Affirms Asset Freeze Order
----------------------------------------------------------
This appeal arises out of a civil enforcement action brought by the
U.S. Securities and Exchange Commission against defendants Samuel
Wyly and Charles Wyly, Jr.

After a jury found the Wyly Brothers liable for multiple claims of
securities fraud, Judge Shira A. Scheindlin of the United States
District Court for the Southern District of New York ordered
payment of approximately $300 million in disgorgement.  Fearing the
dissipation of ill-gotten gains among the Wyly Brothers' family
members, the SEC requested that the District Court enter a
temporary asset freeze.  While that request was pending before the
District Court, Samuel Wyly and the widow of Charles Wyly filed
petitions for Chapter 11 protection in Bankruptcy Court, triggering
the automatic stay provision of the Bankruptcy Code.  Shortly
thereafter, the District Court entered the order freezing the Wyly
Brothers' ill-gotten gains, including assets transferred to
multiple family members, who are named Relief Defendants in the
action.

This appeal does not challenge the liability judgment against the
Wyly Brothers or the damages award.  Instead, the defendants
appellants challenge only the validity of the asset freeze order,
which they assert was issued in violation of the Bankruptcy Code's
automatic stay provision.

In an Order dated December 18, 2015 which is available at
http://is.gd/HlwI2Afrom Leagle.com, the United States Court of
Appeals, Second Circuit held that the pre-judgment asset freeze
order imposed by the District Court was exempt from the Bankruptcy
Code's automatic stay provision.  The asset freeze order at issue
here did not seek to enforce a money judgment and thus fell within
the governmental unit exception to the stay provision, but not
within the exception to the exception.

The Second Circuit, accordingly, affirmed in part the District
Court's November 3, 2014 asset freeze order insofar as it
restrained the assets of the nine Relief Defendants.  The order was
properly supported by a showing of receipt of ill-gotten gains by
nine of the sixteen Relief Defendants, the Second Circuit held.

The court was unable to determine on this record whether seven of
the sixteen Relief Defendants personally received ill-gotten gains,
accordingly, the Second Circuit remanded the case to the District
Court for additional factual development on the limited issue of
whether these seven Relief Defendants received ill-gotten gains.

The case is SECURITIES AND EXCHANGE COMMISSION, Plaintiff-Appellee,
v. DONALD R. MILLER, JR., in his capacity as the Independent
Executor of the Will and Estate of Charles J. Wyly, Jr. also known
as Charles J. Wyly, Jr., DAVID MATTHEWS, LISA WYLY, KELLY WYLY
O'DONOVAN, ANDREW WYLY, CHARLES J. WYLY, III, JENNIFER WYLY
LINCOLN, JAMES W. LINCOLN, CHERYL WYLY, EVAN ACTON WYLY, LAURIE
WYLY MATTHEWS, MARTHA WYLY MILLER, DONALD R. MILLER, JR., EMILY
WYLY, CHRISTIANA WYLY, JOHN GRAHAM, Defendants-Appellants, SAMUEL
E. WYLY, LOUIS J. SCHAUFELE, III, MICHAEL C. FRENCH, CAROLINE D.
WYLY, EMILY WYLY LINDSEY, Defendants, No. 14-4261-cv.

David L. Kornblau, Esq. -- dkornblau@cov.com -- Covington & Burling
LLP, Eric Hellerman, Esq. -- ehellerman@cov.com -- Covington &
Burling LLP, Evie Spanos, Esq. -- espanos@cov.com -- Covington &
Burling LLP for Defendants-Appellants.

                         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).


SANDALWOOD HOSPITALITY: Case Summary & 20 Top Unsecured Creditors
-----------------------------------------------------------------
Debtor: Sandalwood Hospitality, LLC
        P.O. Box 6367
        Jacksonville, FL 32236

Case No.: 16-20030

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 18, 2016

Court: United States Bankruptcy Court
       Southern District of Georgia (Brunswick)

Debtor's Counsel: David L. Bury, Jr., Esq.
                  STONE & BAXTER, LLP
                  577 Mulberry Street Suite 800
                  Macon, GA 31201
                  Tel: 478-750-9898
                  Fax: 478-750-9899
                  Email: dbury@stoneandbaxter.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Chetan T. Patel, member-manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/gasb16-20030.pdf


SCIENTIFIC GAMES: Hikes EVP's Base Salary to $725,000
-----------------------------------------------------
Scientific Games Corporation entered into an amendment to its
employment agreement, dated as of Dec. 18, 2012, with James C.
Kennedy, the Company's executive vice president and group chief
executive, lottery.

Pursuant to the amendment, Mr. Kennedy's base salary was increased
to $725,000.  In addition, the term of Mr. Kennedy's employment
agreement was extended to Dec. 31, 2018, subject to extension for
an additional year at the end of the term and each anniversary
thereof unless timely notice of non-renewal is given.  On Jan. 14,
2016, Mr. Kennedy received an equity award of 70,000 restricted
stock units with a four-year vesting schedule (one-fourth vesting
on each of the first four anniversaries of the grant date.)

                     About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/     

Scientific Games reported a net loss of $234 million in 2014, a net
loss of $30.2 million in 2013 and a net loss of $62.6 million for
2012.

As of Sept. 30, 2015, the Company had $8.61 billion in total
assets, $9.59 billion in total liabilities and a $981 million
total stockholders' deficit.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SHAW COMMUNICATIONS: S&P Affirms 'BB' Global Scale Rating
---------------------------------------------------------
Standard & Poor's Ratings Services said it removed its ratings on
Shaw Communications Inc. from CreditWatch, where they were placed
with negative implications Dec. 17, 2015.  The ratings were placed
on CreditWatch after the company announced an agreement to acquire
mobile operator WIND Mobile Corp., for C$1.6 billion.

At the same time, Standard & Poor's affirmed its 'BBB-' long-term
corporate credit rating, 'BBB-' unsecured debt ratings, 'BB' global
scale, and 'P-3' Canada scale preferred share ratings on Shaw.  The
outlook is negative.

"The affirmation incorporates our expectation that Shaw will
maintain fully adjusted debt leverage of about 3x over the next two
years, which is consistent with our 'BBB-' rating, after
incorporating the WIND acquisition and the recently announced sale
of Shaw Media," said Standard & Poor's credit analyst Donald
Marleau.

"We recognize the strategic importance of a robust wireless product
for supporting the attractiveness of Shaw's wireline business and
overall revenue growth, in contrast with difficult prospects in
media.  That said, we believe that execution risks, particularly
wireless EBITDA volatility and capital expenditures--including
wireless spectrum--could worsen projected funds flow credit
measures that we estimate will already be weak for the rating," Mr.
Marleau added.

The negative outlook reflects S&P's expectation of weak free cash
flow over the next two years as the company integrates WIND and
builds out its mobile network to the current industry-standard LTE.


S&P could lower the rating if it expects that Shaw's fully adjusted
debt leverage will increase toward 3.5x, which could indicate
difficulties achieving profitability expectations in mobile or
increased debt-funded capital to support the company's competitive
position.

S&P could revise the outlook to stable if Shaw's free and
discretionary cash flow measures improve enough to keep fully
adjusted debt leverage consistently below 3x, which S&P believes
would occur if WIND EBITDA maintained a positive trajectory to
exceed C$100 million by 2018 along with expectations of
steady-to-declining capital expenditures.  S&P believes that such a
scenario would be characterized by free operating cash flow
approaching 10% and sustained positive discretionary cash flow.



SRP PLAZA: Exits Ch.11 Following Approval of Uncontested Plan
-------------------------------------------------------------
SRP Plaza, L.P., notified parties in interest that all conditions
precedent to the effectiveness of its Amended and Consensual
Chapter 11 Plan of Reorganization have been met and the effective
date of the Plan will be Dec. 31, 2015 for all intents and
purposes.

On Dec. 9, 2015, the U.S. Bankruptcy Court in Nevada convened a
combined hearing on the Plan and Disclosure Statement.  No
objections to confirmation of the Plan were filed.  On Dec. 14,
Judge August B. Landis entered an order confirming the Plan.  The
Court also approved the Debtor's Amended Disclosure Statement.

Pursuant to the Plan, the allowed secured claim of U.S. Bank (Class
1), which includes the outstanding principal of $7.11 million on a
loan, will be refinanced and modified such that the loan will be
due and owing in a final balloon payment that is 84 months from the
first monthly payment, there will be monthly payments of principal
and interest, and interest will accrue at 5.3% per annum.  Holders
of other secured claims (Class 2), priority non-tax claims (Class
3), and unsecured claims (Class 4) are unimpaired and will receive
payment of 100% of their claims on the first business day after the
Effective Date.  Holders of equity interests (Class 5) will retain
their legal interest.  

Only Class 1 was entitled to vote on the Plan.  U.S. Bank, the lone
voting creditor, voted to accept the Plan.

The administrative claims bar date for filing applications for
allowance of administrative claims against the Debtor, including
claims under 11 U.S.C. Sec. 503(b), and all final applications for
allowance and disbursement of professional fees will be Feb. 1,
2016.

A copy of the Amended Disclosure Statement dated Oct. 28, 2015, is
available for free at:

       http://bankrupt.com/misc/SRP_Plaza_127_Am_DS.pdf

Attorneys for the Debtor:

         Zachariah Larson, Esq.
         Matthew C. Zirzow, Esq.
         Shara L. Larson, Esq.
         LARSON & ZIRZOW, LLC
         810 S. Casino Center Blvd. #101
         Las Vegas, NV 89101
         Telephone: (702) 382-1170
         Facsimile: (702) 382-1169
         E-mail: zlarson@lzlawnv.com
                 mzirzow@lzlawnv.com
                 slarson@lzlawnv.com

                         About SRP Plaza

SRP Plaza, L.P., is the owner of a retail shopping center commonly
known as "Mission Paseo Shopping Center" with addresses of 6985
and 7005 West Sahara Avenue and 2555 and 2585 South Rainbow
Boulevard, Las Vegas, Nevada.  SRP Plaza, L.P., a Single Asset
Real Estate, filed a Chapter 11 petition (Bankr. D. Nev. Case No.
15-12127) on April 16, 2015, to halt a receiver from taking
Control of the property.

U.S. Bank National Association, as successor trustee for the
registered holders of Bear Stearns Commercial Mortgage Securities,
Inc., Commercial Pass-Through Certificates, Series 20015-PW37,
declared an event of default under a Deed of Trust dated on
Dec. 7, 2004, and recorded against the real property of SRP on
Dec. 9, 2004 as Instrument No. 20041209-0003438.

On March 31, 2014, the Bank filed a complaint for appointment of a
receiver in the Eight Judicial District Court, Clark County,
Nevada, being Case No. A-15-71622 against SRP, and on April 9,
2015, filed an application for the appointment of a receiver
seeking the potential seizure of control of SRP's property, which
actions, if allowed to proceed, would cause significant and
irreparable harm to SPR, its creditors and other
parties-in-interest.

The bankruptcy case is assigned to Judge August B. Landis.  The
Debtor disclosed $10,481,975 in assets and $7,327,546 in
liabilities as of the Chapter 11 filing.

SRP Plaza is represented by Zachariah Larson, Esq., Matthew C.
Zirzow, Esq. and Shara L. Larson, Esq. at Larson & Zirzow, LLC in
Las Vegas, Nevada.


SRP PLAZA: Seeks Final Decree Closing Chapter 11 Case
-----------------------------------------------------
SRP Plaza, L.P., filed with the Bankruptcy Court a motion seeking a
final decree and order closing its Chapter 11 bankruptcy case.  The
Debtor said that its estate is now fully administered and its
Chapter 11 Plan is substantially consummated pursuant to Sec.
1101(2) of the Bankruptcy Code.  The Debtor has also paid or will
pay to the Office of the U.S. Trustee all quarterly fees pursuant
to 28 U.S.C. Sec. 1930.  A hearing on the Debtor's motion is set
for Feb. 10, 2016, at 1:30 p.m.

                         About SRP Plaza

SRP Plaza, L.P., is the owner of a retail shopping center commonly
known as "Mission Paseo Shopping Center" with addresses of 6985
and 7005 West Sahara Avenue and 2555 and 2585 South Rainbow
Boulevard, Las Vegas, Nevada.  SRP Plaza, L.P., a Single Asset
Real Estate, filed a Chapter 11 petition (Bankr. D. Nev. Case No.
15-12127) on April 16, 2015, to halt a receiver from taking
Control of the property.

U.S. Bank National Association, as successor trustee for the
registered holders of Bear Stearns Commercial Mortgage Securities,
Inc., Commercial Pass-Through Certificates, Series 20015-PW37,
declared an event of default under a Deed of Trust dated on
Dec. 7, 2004, and recorded against the real property of SRP on
Dec. 9, 2004 as Instrument No. 20041209-0003438.

On March 31, 2014, the Bank filed a complaint for appointment of a
receiver in the Eight Judicial District Court, Clark County,
Nevada, being Case No. A-15-71622 against SRP, and on April 9,
2015, filed an application for the appointment of a receiver
seeking the potential seizure of control of SRP's property, which
actions, if allowed to proceed, would cause significant and
irreparable harm to SPR, its creditors and other
parties-in-interest.

The bankruptcy case is assigned to Judge August B. Landis.  The
Debtor disclosed $10,481,975 in assets and $7,327,546 in
liabilities as of the Chapter 11 filing.

SRP Plaza is represented by Zachariah Larson, Esq., Matthew C.
Zirzow, Esq. and Shara L. Larson, Esq. at Larson & Zirzow, LLC in
Las Vegas, Nevada.


TARRIE HYCHE: Court Denies Bid to Exclude Expert Testimony
----------------------------------------------------------
Trustee Robert A. Morgan filed a complaint seeking to set aside
certain transfers to Greg Masterson.  In anticipation of trial, the
Defendant seeks to exclude the testimony of certain witnesses for
the Plaintiff including Larry "Chip" Pearce, Mark O. Hampton, and
Keith Carr, on the grounds that the proposed experts are not
qualified to testify as to their opinions regarding the value of
the real property owned by Debtor Tarry Hyche on the date of the
transfers at issue because the proposed experts are not licensed by
the State of Alabama as appraisers.

In a Memorandum Opinion dated December 23, 2015, which is available
at http://is.gd/nCIxH0from Leagle.com, Judge Clifton R. Jessup of
the United States Bankruptcy Court for the Northern District of
Alabama, Northern Division, denied the Defendant's Motion to
Exclude Expert Testimony.  According to Judge Jessup, the weight to
be accorded to the testimony of the Plaintiff's proposed expert
witnesses will be determined by the Court at the Trial based upon
the qualifications of those experts, the relevancy of their
testimony, and other factors.

The adversary proceeding is ROBERT A. MORGAN AS LIQUIDATING TRUSTEE
FOR THE ESTATE OF TARRIE HYCHE Plaintiff(s), v. GREG MASTERSON,
Defendant(s), AP No. 13-70023-CRJ-11 (Bankr. N.D. Ala.).

The bankruptcy case is In the Matter of: TARRIE HYCHE, SSN:
XXX-XX-3504, Chapter 11, Debtor(s), Case No. 12-72304-CRJ-11
(Bankr. N.D. Ala.).

Tarrie Hyche, Debtor, is represented by Lee R. Benton, Esq. --
Benton & Centeno, LLP, Jamie Alisa Wilson, Esq. -- Benton &
Centeno, LLP.

Jerry C. Oldshue, Jr., Trustee, is represented by Kristofor D
Sodergren, Wsq. -- ksodergren@rosenharwood.com -- Rosen Harwood,
PA, Rachel L Webber, Esq. -- Rosen Harwood, PA.


TENET HEALTHCARE: In Talks with DOJ on Possible Action Settlement
-----------------------------------------------------------------
As initially disclosed in Tenet Healthcare Corporation's annual
report on Form 10-K for the year ended Dec. 31, 2012, the Company
and four of its hospital subsidiaries are defendants in civil qui
tam litigation (United States of America, ex rel. Ralph D. Williams
v. Health Management Associates, Inc., et al.) that alleges that
the contractual arrangements between each of Atlanta Medical
Center, North Fulton Hospital, Spalding Regional Medical Center and
Hilton Head Hospital, and Hispanic Medical Management, Inc.
violated the federal and state anti-kickback statutes and false
claims acts.  Also as previously disclosed, the U.S. Department of
Justice is conducting a parallel criminal investigation of the
Company, certain of its subsidiaries, and current and former
employees with respect to the contractual arrangements entered into
by those individuals between HMM and the four hospitals.

In January 2016, the Company commenced preliminary discussions with
the DOJ and the State of Georgia regarding potential resolution of
these matters.  There can be no assurance that conducting these
preliminary discussions will lead to resolution of these matters.
Management previously established a reserve of approximately $20
million to reflect the low end of the range of probable liability
in connection with the civil litigation.  This amount related to an
offer the Company made to settle the civil litigation in December
2013, which was rejected.  Based on the ongoing uncertainties and
potentially wide range of outcomes associated with any potential
resolution, the Company cannot estimate the amount of potential
loss or range of reasonably possible loss it may face.  However,
the potential consequences and additional liabilities may
materially exceed the reserve the Company established and could
have a material adverse effect on its business, financial condition
or cash flows.

"If we are unable to reach a resolution, we intend to continue
vigorously contesting any allegations that we or our four hospital
subsidiaries violated the law," the Company said.

                            About Tenet

Tenet Healthcare Corporation -- http://www.tenethealth.com/-- is  

a national, diversified healthcare services company with 110,000
employees united around a common mission: to help people live
happier, healthier lives.  The company operates 80 hospitals, 214
outpatient centers, six health plans and Conifer Health Solutions,
a leading provider of healthcare business process services in the
areas of revenue cycle management, value based care and patient
communications.

Tenet Healthcare reported net income attributable to the Company's
shareholders of $12 million for the year ended Dec. 31, 2014,
compared to a net loss attributable to the Company's shareholders
of $134 million during the prior year.

As of Sept. 30, 2015, the Company had $23.2 billion in total
assets, $20.5 billion in total liabilities, $1.68 billion in
redeemable noncontrolling interests in equity of consolidated
subsidiaries and $1.01 billion in total equity.

                         *    *    *

Tenet carries a 'B' IDR from Fitch Ratings, 'B' corporate credit
rating from Standard & Poor's Ratings Services and 'B1' Corporate
Family Rating from Moody's Investors Service.


TIMBERLINE RESOURCES: Receives Audit Opinion With Going Concern
---------------------------------------------------------------
Timberline Resources Corporation on Jan. 15 announced that, as
previously disclosed in its Annual Report on Form 10-K for the year
ended September 30, 2015, which was filed on December 29, 2015, the
audited financial statements for the year ended September 30, 2015
included in the Form 10-K contained a going concern qualification
paragraph in the audit opinion from its independent registered
public accounting firm.

This announcement is made pursuant to NYSE MKT Company Guide
Section 610(b), which requires separate disclosure of receipt of an
audit opinion containing a going concern qualification.  This
announcement does not represent any change or amendment to the
Company's consolidated financial statements or to its Annual Report
on Form 10-K for the fiscal year ended September 30, 2015.

                   About Timberline Resources

Timberline Resources Corporation formerly Silver Crystal Mines,
Inc. was formed to explore precious metal deposits and advance them
to production.  The Coeur d'Alene, Idaho-based Company acquired
Kettle Drilling, Inc. and its Mexican subsidiary, World Wide
Exploration S.A. de C.V. in 2006 and subsequently Kettle Drilling
changed its name to Timberline Drilling Incorporated.  In 2011, the
Company closed the sale of Timberline Drilling and World Wide and
became solely a mineral exploration enterprise.


TMT USA: Obtains Court OK to Purchase Vantage Shares
----------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas
authorized TMT Procurement Corp., et al., to purchase up to
11,282,771 ordinary shares of Vantage Drilling Company for an
aggregate purchase price of not more than $2,000,000.

As of September 1, 2015, the Debtors, working with James Woodruff
and Beverly Dawson of the Woodruff, Dawson, Celestino Financial
Group of Raymond James Financial Services, Inc., concluded the
purchase of 11,282,771 Vantage shares.

In its motion, TMT Group asked the U.S. Bankruptcy Court for the
Southern District of Texas for approval to purchase the shares
using the proceeds from the sale of its various vessels.

TMT Group currently has approximately $14.885 million in proceeds
from the sale.  It says it will use the sale proceeds to buy the
shares through Raymond James & Associates, Inc. in the open market
or in a private deal.

TMT Group will retain all shares purchased with the broker, or in
escrow if purchased in a private transaction pending further
approval from the bankruptcy court, according to the filing.

                         About TMT Group

Known in the industry as TMT Group, TMT USA Shipmanagement LLC and
its affiliates own 17 vessels.  Vessels range in size from 27,000
dead weight tons (dwt) to 320,000 dwt.

TMT USA and 22 affiliates, including C. Ladybug Corporation, sought
Chapter 11 protection (Bankr. S.D. Tex. Lead Case No. 13-33740) in
Houston, Texas, on June 20, 2013 after lenders seized seven
vessels.

TMT filed a lawsuit in U.S. bankruptcy court aimed at forcing
creditors to release the vessels so they can return to generating
income.

TMT has tapped attorneys from Bracewell & Giuliani LLP as
bankruptcy counsel and AlixPartners as financial advisors.

On a consolidated basis, the Debtors have $1.52 billion in assets
and $1.46 billion in liabilities.


TRISTAR WELLNESS: Directors and Officers Quit
---------------------------------------------
Dr. Michel Boileau, Mr. Stuart Sands, and Mr. Michael Wax, resigned
as members of TriStar Wellness Solutions, Inc.'s board of directors
effective immediately upon the filing of the Chapter 7 case.  The
resignations are not the result of any disagreement with the
Company regarding the Company's operations, policies, or practices.


Mr. Wax, interim chief executive officer and president and interim
chief financial officer of the Company, also resigned all of his
officer positions with the Company effective as of the Petition
Date.  Mr. Wax was the only officer of the Company at the time of
his resignation.

A Chapter 7 trustee will assume control over the assets of the
Company, effectively eliminating the authority and powers of the
board of directors and officers of the Company.

                     About TriStar Wellness

TriStar Wellness Solutions, Inc., offers products and technologies
in the areas of wound care, women's health and therapeutic skin
care.  The Company is based in Westport, Connecticut.

TriStar Wellness filed a voluntary petition for relief under
provisions of Chapter 7 of the United States Bankruptcy Code to
initiate an orderly liquidation of the assets of the Company on
Jan. 15, 2016.  The Chapter 7 case was filed in the United States
Bankruptcy Court for the District of Oregon.  As a result of the
filing, a Chapter 7 trustee will be appointed in the Chapter 7
Case, and the assets of the Company will be liquidated in
accordance with the Code.


UTSTARCOM HOLDINGS: Promotes Dr. Zhaochen Huang to COO
------------------------------------------------------
UTStarcom had promoted Dr. Zhaochen Huang to chief operating
officer, effective Jan. 15, 2016, to oversee global sales and
business development as well as global operations, which includes
manufacturing, quality assurance, procurement, and information
technologies.

Dr. Huang brings more than 25 years of business and management
expertise to the Company.  He previously served as the
vice-president, global operations, at UTStarcom and General Manager
of UTStarcom India.  Prior to that, Dr. Huang served various
positions at Soliton Systems, K.K. including general manager of
Soliton Systems USA and VP of Research and Development of Soliton
Systems Shanghai.  Prior to that, Dr. Huang served at SECOM Co.,
LTD. and Nanjing Institute of Solid Device.  He received a Doctor
of Engineer's degree in Electrical and Electronics from Tokyo
Institute of Technology.

"We are thrilled to promote Zhaochen to Chief Operating Officer,"
stated Mr. Tim Ti, UTStarcom's chief executive officer.  "Zhaochen
has tremendous amount of international experience having worked in
China, Japan, United States, and India.  Since he joined the
Company in 2011, Zhaochen has proved his capability to solve
complex business problems and deliver results.  Zhaochen's
leadership, acumen, and work ethic will continue to be a positive
asset for our Company."

                        About UTStarcom, Inc.

UTStarcom, Inc. (Nasdaq: UTSI) -- http://www.utstar.com/-- is a
global leader in IP-based, end-to-end networking solutions and
international service and support.  The Company sells its
solutions to operators in both emerging and established
telecommunications markets around the world.  UTStarcom enables
its customers to rapidly deploy revenue-generating access services
using their existing infrastructure, while providing a migration
path to cost-efficient, end-to-end IP networks.  The Company's
headquarters are currently in Alameda, California, with its
research and design operations primarily in China.

UTStarcom reported a net loss of $30.3 million in 2014, a net loss
of $22.7 million in 2013 and a net loss of $34.4 million in 2012.

As of Sept. 30, 2015, the Company had $209.41 million in total
assets, $105 million in total liabilities and $104 million in total
equity.


WALTER ENERGY: Commences Sale & Investment Solicitation Process
---------------------------------------------------------------
Walter Energy Canada Holdings, Inc., on Jan. 15, 2016, disclosed
that it has received approval from the Supreme Court of British
Columbia to commence a sale and investment solicitation process for
the Company's assets (the "SISP") and to engage PJT Partners LP
("PJT") as Walter Energy Canada's financial advisor.

Pursuant to the SISP, PJT is soliciting offers to purchase some or
all of the assets of, or make an investment in, Walter Energy
Canada and certain of its affiliates and partnerships.  The
deadline for submission of non-binding letters of intent is 5:00 pm
(EST) on March 18, 2016.  Interested persons may contact PJT or the
Monitor, KPMG Inc., for further information:

PJT Partners LP                KPMG Inc.
280 Park Avenue                777 Dunsmuir Street, PO Box 10426
New York, NY 10017        Vancouver BC 7Y 1K3
Attention: Kerry Greer        Attention: Anthony Tillman
Telephone: (212) 364-8993      Telephone: (604) 646-6332
Email: Greer@pjtpartners.com   Email: atillman@kpmg.ca

The Company also announces that the Stay Period has been extended
up to and including April 5, 2016 and that William E. Aziz has been
appointed as Walter Energy Canada's Chief Restructuring Officer.

Walter Energy Canada and certain of its affiliates and partnerships
obtained creditor protection under the Companies' Creditors
Arrangement Act (Canada) (the "CCAA") pursuant to an Initial Order
granted on December 7, 2015.  This will facilitate, among other
things, a marketing process for the Canadian assets and for its
holdings in the United Kingdom, consisting of an anthracite coal
mine held through a subsidiary company ("Walter United Kingdom").

Obligations incurred after the filing date, including obligations
to employees and key suppliers of goods and services, continue to
be paid on an ongoing basis.  Further details of the CCAA filing
and related matters, including copies of the Initial Order, the
SISP and other relevant information and documentation are available
on the Monitor's website at www.kpmg.com/ca/walterenergycanada

Walter Energy Canada is a holding company for the Canadian and UK
operations of Walter Energy, Inc. of Birmingham, Alabama.  Walter
Energy Canada and Walter United Kingdom were not part of the U.S.
chapter 11 filing of Walter Energy, Inc. on July 15, 2015 and are
not included in the asset purchase agreement that Walter Energy,
Inc. entered into on November 5, 2015.

                  About Walter Energy Canada

Walter Energy Canada's Canadian operations consist primarily of
three coal mines and exploration properties in the Chetwynd and
Tumbler Ridge areas of Northeast British Columbia.  Walter Energy
Canada also owns one coal mine in South Wales through its
subsidiary Walter United Kingdom.  All four mines are idled as a
result of current market conditions.

The Wolverine Mine in British Columbia is an open-pit metallurgical
coal mine with a coal processing plant and a rail load-out facility
capable of handling 2.0-2.5 million metric tons per year.

The Brule Mine in British Columbia is an open pit metallurgical
coal mine and produces a premium low volatile pulverized coal
injection (PCI) product.

The Willow Creek Mine in British Columbia is an open-pit
metallurgical coal mine with a coal processing plant and a rail
load-out facility capable of handling production from both the
Brule and Willow Creek mines.  The Willow Creek Mine produces both
metallurgical coal and coal used for pulverized injection purposes.
The coal reserves are comprised of an estimated one-third
metallurgical coal and two-thirds low-volatile pulverized coal
(PCI).

The Aberpergwm Mine in South Wales is an underground development
mine located near the town of Neath.  The mine produces anthracite
coal, which can be sold as a low-volatile PCI coal, and other
products used for domestic purposes.

                       About Walter Energy

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

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

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

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

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

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

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


WARNER MUSIC: Elects to Redeem $50-Mil. of Senior Notes due 2019
----------------------------------------------------------------
WMG Holdings Corp. elected to call for the partial redemption of
$50 million of its $150 million outstanding 13.75% Senior Notes due
2019 and a notice of redemption has been sent by Wells Fargo Bank,
National Association, the trustee for the Notes, to all registered
holders of the Notes.

The redemption price for the Notes is equal to 106.875% of the
principal amount of the Notes, plus accrued and unpaid interest to,
but not including, the redemption date, which will be on
Feb. 16, 2016.  Upon the partial redemption by the Company of the
Notes, $100 million of the Notes will remain outstanding.

                     About Warner Music Group

Based in New York, Warner Music Group Corp. (NYSE: WMG)
-- http://www.wmg.com/-- was formed by a private equity
consortium of investors on Nov. 21, 2003.  The Company is the
direct parent of WMG Holdings Corp., which is the direct parent of
WMG Acquisition Corp.  WMG Acquisition Corp. is one of the world's
major music-based content companies and the successor to
substantially all of the interests of the recorded music and music
publishing businesses of Time Warner Inc.

The Company classifies its business interests into two fundamental
operations: Recorded Music and Music Publishing.  The Company's
Recorded Music business primarily consists of the discovery and
development of artists and the related marketing, distribution and
licensing of recorded music produced by such artists.  The
Company's Music Publishing operations include Warner/Chappell, its
global Music Publishing company, headquartered in New York with
operations in over 50 countries through various subsidiaries,
affiliates and non-affiliated licensees.

In May 2011, Warner Music Group Corp. and Access Industries, the
U.S.-based industrial group, announced the execution of a
definitive merger agreement under which Access Industries will
acquire WMG in an all-cash transaction valued at $3.3 billion.
The purchase includes WMG's entire recorded music and music
publishing businesses.

On July 20, 2011, the Company notified the New York Stock
Exchange, Inc., of its intent to remove the Company's common stock
from listing on the NYSE and requested that the NYSE file with the
SEC an application on Form 25 to report the delisting of the
Company's common stock from the NYSE.  On July 21, 2011, in
accordance with the Company's request, the NYSE filed the Form 25
with the SEC in order to provide notification of that delisting
and to effect the deregistration of the Company's common stock
under Section 12(b) of the Securities Exchange Act of 1934, as
amended.  On August 2, 2011, the Company filed a Form 15 with the
SEC in order to provide notification of a suspension of its duty
to file reports under Section 15(d) of the Exchange Act.  The
Company continues to file reports with the SEC pursuant to the
Exchange Act in accordance with certain covenants contained in the
instruments governing the Company's outstanding indebtedness.

Warner Music reported a net loss attributable to the Company of $91
million on $2.96 billion of revenues for the fiscal year ended
Sept. 30, 2015, compared to a net loss attributable to the Company
of $308 million on $3.02 billion of revenues for the fiscal year
ended Sept. 30, 2014.  As of Sept. 30, 2015, the Company had $5.67
billion in total assets, $5.43 billion in total liabilities and
$239 million in total equity.

                           *    *     *

As reported by the TCR on March 28, 2014, Standard & Poor's
Ratings Services affirmed its 'B+' corporate credit rating on
recorded music and music publishing company Warner Music Group
Corp. (WMG).  S&P's rating and negative outlook reflect continued
uncertainty surrounding industry wide revenue and profitability
trends affecting WMG over the intermediate term, despite recent
signs of stabilization in the industry.


WIRE COMPANY: Can Hire Novo Advisors to Appoint CRO
---------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Wire Company Holding Inc. and its debtor-affiliates to employ Novo
Advisor to provide with a chief restructuring officer and other
individuals provided the firm to provide interim management and
restructuring services, and designate Sandeep Gupta as CRO.

The firm will render onsite interim management services to the
Debtors in these Chapter 11 Cases to include, but not limited to,
the following:

   a) provision of Sandeep Gupta as CRO, reporting directly to
      the board of directors;

   b) review of the Debtors' 13-week cash flow forecasts;

   c) providing guidance in developing a methodology for
      monitoring actual weekly performance against the prepared
      budget

   d) performing such other tasks as the Debtors or their counsel
      may request in connection with the Chapter 11 Cases.

The CRO will be compensated on an hourly basis.  Mr. Gupta's hourly
rate is $475.  Mr. Gupta will be assisted by members of his firm,
with hourly rates ranging from $200-$275.

The Debtors told the Court that they paid Novo Advisors a retainer
in the amount of $50,000. The remaining amount of the retainer
being held by Novo post-petition is $23,510.

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

                        About Wire Company

Wire Company Holdings, Inc. and Wire Property Holdings, LLC  filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos. 15-12097
and 15-12098, respectively) on Oct. 8, 2015.  Sandeep Gupta signed
the petition as chief restructuring officer.

The Debtors are manufacturer of wire and wire mesh products
servicing a broad range of applications.

The Debtors estimated both assets and liabilities of $10 million to
$50 million.

For the year ended Dec. 31, 2014, the Debtors reported a net loss
of $4,942,000 on revenues of $44,399,000 on a consolidated basis.
For the year ended Dec. 31, 2013, the Debtors reported a net loss
of approximately $4,145,000 on revenues of approximately
$46,712,000.  Through August 2015, the Debtors reported a net loss
of approximately $3,859,000 on revenues of $27,617,000 on a
consolidated basis.

The Debtors have engaged Polsinelli PC and Lowenstein Sandler LLP
as counsel; and Kurtzman Carson Consultants LLC as claims and
noticing agent.

As of Sept. 1, 2015, the Debtors employed approximately 237
individuals.


WIRE COMPANY: Court Approves Lowenstein Sandler as Counsel
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Wire Company Holdings Inc. and its debtor-affiliates to employ
Lowenstein Sandler LLP as their counsel.

The firm will:

   a) provide the Debtors with advice and preparing all necessary
      documents regarding debt restructuring, bankruptcy and
      asset dispositions, including, but not limited to,
      preparing all documents to confirm a Plan;

   b) take all necessary actions to protect and preserve the
      Debtors' estates during the pendency of these Chapter 11
      Cases, including the prosecution of actions by the Debtors,
      the defense of actions commenced against the Debtors,
      negotiations concerning litigation in which the Debtors are
      involved and objecting to claims filed against the estates;

   c) prepare on behalf of the Debtors, as debtors-in-possession,
      all necessary motions, applications, answers, orders,
      reports and papers in connection with the administration of
      these Chapter 11 Cases;

   d) counsel the Debtors with regard to their rights and
      obligations as debtors-in-possession;

   e) appear in Court to protect the interests of the Debtors;
      and

   f) perform all other legal services for the Debtors which may
      be necessary and proper in these proceedings, including,
      without limitation the preparation and defense of retention
      and fee applications for the Debtors professionals and
      proposed professionals.

Lowenstein’s current standard hourly rates are:

   Partners                      $550-$1,100
   Senior Counsel and Counsel    $390-$695
   Associates                    $285-$595
   Paralegals                    $110-$290

Sharon L. Levine, Esq., member of the firm, assured the Court that
the firm is a "disinterested person" as defined in Section 101(14)
of the Bankruptcy Code.

Ms. Levine can be reached at:

   Sharon L. Levine, Esq.
   LOWENSTEIN SANDLER LLP
   65 Livingston Avenue
   Roseland, NJ 07068
   Tel: 973-597-2374
   Fax: 973-597-2375
   Email: slevine@lowenstein.com

                        About Wire Company

Wire Company Holdings, Inc. and Wire Property Holdings, LLC  filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos. 15-12097
and 15-12098, respectively) on Oct. 8, 2015.  Sandeep Gupta signed
the petition as chief restructuring officer.

The Debtors are manufacturer of wire and wire mesh products
servicing a broad range of applications.

The Debtors estimated both assets and liabilities of $10 million to
$50 million.

For the year ended Dec. 31, 2014, the Debtors reported a net loss
of $4,942,000 on revenues of $44,399,000 on a consolidated basis.
For the year ended Dec. 31, 2013, the Debtors reported a net loss
of approximately $4,145,000 on revenues of approximately
$46,712,000.  Through August 2015, the Debtors reported a net loss
of approximately $3,859,000 on revenues of $27,617,000 on a
consolidated basis.

The Debtors have engaged Polsinelli PC and Lowenstein Sandler LLP
as counsel; and Kurtzman Carson Consultants LLC as claims and
noticing agent.

As of Sept. 1, 2015, the Debtors employed approximately 237
individuals.


WIRE COMPANY: Court Okays Polsinelli PC as Co-Counsel
-----------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Wire Company Holdings Inc. and its debtor-affiliates to employ
Polsinelli PC as their co-counsel.

The firm is expected to:

   a) take all necessary action to protect and preserve the estates
of the Debtors, including the prosecution of actions on the
Debtors' behalf, the defense of any actions commenced against the
Debtors, the negotiation of disputes in which the Debtors are
involved, and the preparation of objections to claims filed against
the Debtors' estates;

   b) provide legal advice with respect to the Debtors' powers and
duties as debtors in possession in the continued operation of their
businesses and management of their properties;

   c) negotiate, prepare, and purse confirmation of a plan and
approval of a disclosure statement;

   d) prepare on behalf of the Debtors, as debtors in possession,
necessary motions, applications, answers, orders, reports, and
other legal papers in connection with the administration of the
Debtors' estates;

   e) appear in court and protecting the interests of the Debtors
before the Court;

   f) assist with any disposition of the Debtors' assets, by sale
or otherwise;

   g) review all pleadings filed in these Cases; and

   h) perform all other legal services in connection with these
Cases as may reasonably be required.

The firm's hourly rates for professionals

      Shareholder                               $270-$900
      Associates and Senior Counsel             $180-$500
      Paraprofessionals                         $90-$275

The firm said all Polsinelli professionals will invoice at a 10%
discount from their standard hourly rates.  The primary attorneys
and paralegals expected to represent the Debtors, and their
respective hourly rates are:

     Christopher A. Ward, Esq.   shareholder    $607
     Justin K. Edelson, Esq.     shareholder    $400
     Jarrett K. Vine, Esq.       associate      $360
     Lindsey M. Suprum, Esq.     paralegal      $247

The firm received a $50,000 retainer from the Debtors.  The firm
received the Retainer as payment in advance for services to be
performed by Polsinelli.  On the Petition Date, the firm issued a
final prepetition invoice to the Debtors and drew down the Retainer
in the amount of $7,758.90 for services rendered on behalf of the
Debtors.  The firm currently retains an evergreen retainer in the
amount of $42,241.

Christopher A. Ward, Esq., managing shareholder of the firm,
assured the Court that the firm is a "disinterested person" as
defined in Section 101(14) of the Bankruptcy Code.

The firm can be reached at:

     Christopher A. Ward, Esq.
     Justin K. Edelson, Esq.
     Jarrett K. Vine, Esq.
     Polsinelli PC
     222 Delaware Avenue, Suite 1101
     Wilmington, Delaware 19801
     Email: cward@polsinelli.com
            jedelson@polsinelli.com
            jvine@polsinelli.com

                        About Wire Company

Wire Company Holdings, Inc. and Wire Property Holdings, LLC  filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos. 15-12097
and 15-12098, respectively) on Oct. 8, 2015.  Sandeep Gupta signed
the petition as chief restructuring officer.

The Debtors are manufacturer of wire and wire mesh products
servicing a broad range of applications.

The Debtors estimated both assets and liabilities of $10 million to
$50 million.

For the year ended Dec. 31, 2014, the Debtors reported a net loss
of $4,942,000 on revenues of $44,399,000 on a consolidated basis.
For the year ended Dec. 31, 2013, the Debtors reported a net loss
of approximately $4,145,000 on revenues of approximately
$46,712,000.  Through August 2015, the Debtors reported a net loss
of approximately $3,859,000 on revenues of $27,617,000 on a
consolidated basis.

The Debtors have engaged Polsinelli PC and Lowenstein Sandler LLP
as counsel; and Kurtzman Carson Consultants LLC as claims and
noticing agent.

As of Sept. 1, 2015, the Debtors employed approximately 237
individuals.


WRIGHTWOOD GUEST RANCH: Plan Offers Full Payment After 5 Years
--------------------------------------------------------------
Wrightwood Guest Ranch LLC has filed a Chapter 11 plan that
proposes to pay creditors by restructuring debts and paying the
debts over time by continued business operations.  The Plan
proposes payment of all allowed claims in full with interest.

The Debtor will continue to operate the guest ranch and wedding
business.  From operational revenues and pass through distributions
from Wrightwood Canopy Tour, LLC, of profits in excess of operating
expenses and Chapter 11 reorganization expenses, restructured
payments will be made to all secured creditors, including GreenLake
Real Estate Fund, LLC, Bank of America, Cal-X, Inc./Alexander Reed
Family Trust, County of Los Angeles, Ralph Rocca Construction and
SWG, INC.  There will be a balloon payment as to the balance owed
at the end of the sixtieth month from the Effective Date.

The Plan calls for payment of semi-annual pro rata distributions to
unsecured claimants with allowed claims over 60 months with a
balloon payment due at the end of the 60th month commencing 180
days from the Effective Date.  The Debtor will pay 1.5% interest on
these claims.  The semi-annual payments will be as follows:

        Year One      $50,000
        Year Two      $75,000
        Year Three   $100,000
        Year Four    $150,000
        Year Five    $250,000

Any amount still outstanding on secured and unsecured claims at the
end of the 60th month following the Effective Date will the n be
all due and paid from refinancing the operation.  

The Debtor projects that the allowed unsecured claims will total
about $2.4 million to $2.5 million.

The Debtor says it continues to be in discussions with possible
lenders, including John Liu of EH Bank, concerning the desire and
need to refinance operations not later than 60 months from the
Effective Date.  While no lender will commit to a refinance at this
time, the Debtor is informed and believes that if the Plan is
confirmed and the Debtor obtains the necessary government approvals
and makes all payments called for by the Plan it will be in a
position to submit a successful refinancing operation as soon as 45
to 54 months following confirmation.

A copy of the First Amended Disclosure Statement Dated as of Nov.
30, 2015, is available for free at:

     http://bankrupt.com/misc/Wrightwood_121_1st_Am_DS.pdf

                   About Wrightwood Guest Ranch

Wrightwood Guest Ranch LLC, a California limited liability company,
provides recreational services such as Snow Play, Zip Line,
endurance races, logging and other outdoor events at a 300-acre
property it owns in Wrightwood area of Los Angeles County.  WGR
also operates a wedding and special event center at a 2.45-acre
property at Wrightwood area.

WGR is 60% owned by Richard and Judy Halllett and 40% owned by GREF
WGR I, LLC, an affiliate of secured creditor GreenLake Real Estate
Fund, LLC.  WGR owns 100% of the interests in Wrightwood Guest
Ranch Holdings, LLC, which in turns owns 100% of the interests in
Wrightwood Canopy Tours, LC.

Being concerned about GreenLake's threat of foreclosure, unsecured
creditors Masterpiece Marketing, Larry Rundle, and Snyder
Dorenfeld, filed an involuntary petition against Wrightwood Guest
Ranch LLC (Bankr. C.D. Cal. Case No. 15-17799) on Aug. 5, 2015.
The Petitioners' counsel is Douglas A Plazak, Esq., at Reid &
Hellyer, APC, in Riverside, California.

The Bankruptcy Court on Aug. 31, 2015, granted Wrightwood Guest
Ranch's request for relief under Chapter 11 and vacated the
Involuntary Petition filed against the Debtor.

The case is assigned to Judge Scott C. Clarkson.

The Debtor tapped Walter & Wilhelm Law Group as bankruptcy counsel;
Hall & Company as accountants; and Baker, Manock & Jensen as
special counsel.

The Debtor filed a proposed Plan and Disclosure Statement on Oct.
26, 2015.  On Dec. 4, 2014, it filed an amended Plan and Disclosure
Statement.


WRIGHTWOOD GUEST RANCH: To Submit Revisions to Plan Outline
-----------------------------------------------------------
Objections to Wrightwood Guest Ranch LLC's First Amended Disclosure
Statement, as well as First Amended Plan, were filed by GreenLake
Real Estate Fund, LLC, the United States Trustee's Office, and SWG,
Inc.

GreenLake says the Debtor failed to provide adequate information in
the Disclosure Statement.

"Other than presenting pie-in-the-sky financial projections with no
support, Debtor has not provided adequate information regarding
Debtor's historical operational performance or any explanation for
why the financial projections are realistic given Debtor's past and
current operations.  The Disclosure Statement has also left many
gaps and questions unanswered (e.g., failure to adequately provide
insiders' identities and proposed compensation, unintelligible
statements regarding GreenLake's interest in the property, failure
to identify specific actions purportedly taken or which will be
taken to resolve financial problems, and failure to provide
adequate details regarding contemplated refinancing)," GreenLake
said in the court filing.

GreenLake also claims that: (a) the information provided by Debtor
in the Disclosure Statement is grossly misleading and
mischaracterizes key facts; (b) the Debtor's unsupported
pie-in-the-sky projections are patently nonconfirmable; (c) the
Debtor has acted dishonestly and in bad faith, warranting
disapproval of the Disclose Statement and nonconfirmation of the
plan; and (d) the Disclosure Statement and Plan do not comply with
cram-down confirmation requirements.

GreenLake is asking the Court to deny approval of the Amended
Disclosure Statement, and instead set a hearing date and briefing
schedule for its motion for relief from stay.

The U.S. Trustee argued, among other things, that:

   * The Disclosure Statement should clarify the timing and sources
of payment for the pre-confirmation professional fees incurred by
the Debtor;

   * The Disclosure Statement should disclose additional
information about the Halletts' individual ownership of Parcel
054;

   * The Disclosure Statement should provide additional valuation
information;

   * The Debtor should provide additional information about WCT's
zip line business;

   * The Debtor should disclose its construction budget for its
planned expanded wedding facilities; and

   * The Debtor should supplement the information it provided
concerning a future re-financing.

The U.S. Trustee notes that under the Plan, the Debtor intends to
pay unsecured creditors 100 percent of their allowed claims,
together with interest at a rate of 1.5 percent.  Part of the
creditor payments will be made in semi-annual installments over the
course of the next 60 months; the remainder will be paid "with a
balloon payment due at the end of the sixtieth month following the
Effective Date."

The U.S. Trustee asserts that the Debtor should provide additional
information about its re-financing prospects.  Its reference to the
opinions of two individuals, John Liu and Woodrow Wong, without a
description about who these individuals are and why they are
qualified to render an opinion, is inadequate information,
according to the U.S. Trustee.  Second, the Debtor should state
explicitly in the Disclosure Statement and/or Plan whether
creditors will get paid early if the Debtor refinances prior to
month 60, the U.S. Trustee avers.

                      Response to Objections

The Debtor says many of the objections were well taken and the
Debtor will incorporate information addressing each of the
objections into the Second Amended Disclosure Statement.  Due to
the nature of the objections and the need to obtain information
from third parties, the Debtor intends to file a Second Amended
Disclosure Statement on or before Jan. 29, 2016.

The Debtor says the Second Amended Disclosure Statement and Plan
will address the specifics of the objections, provide disclosures
regarding the ability to obtain refinancing at the end of 60 months
from confirmation, provide updated projections, and otherwise
address the objections.

Counsel for the Debtor request that the hearing be continued to
March 10, 2016, at 11:00 a.m.

GreenLake is the Debtor's efforts to obtain a continuance of the
Disclosure Statement Hearing.  "GreenLake contends that the basis
for Debtor's request for continuance is plainly insufficient and
hollow, and Debtor should not be allowed to delay the proceedings
until March 2016.  Given the Debtor's history, even if the Court
were to continue the hearing on the disclosure statement to March
2016, GreenLake anticipates that come March, Debtor will only come
forward with yet another request for additional time to file
additional disclosure statements because it still cannot fix any of
the feasibility problems with its proposed plan, nor can it refute
the misrepresentations it made before and throughout the
bankruptcy, as well as its bad faith conduct."

The Debtor's attorneys:

       Riley C. Walter, Esq.
       Michael L. Wilhelm, Esq.
       Holly E. Estes, Esq.
       WALTER & WILHELM LAW GROUP
       205 E. River Park Circle, Suite 410
       Fresno, CA 93720
       Tel: (559) 490-0949
       E-mail: rileywalter@W2LG.com
               mwilehelm@W2LG.com
               hestes@W2LG.com

Attorneys for Secured Creditor GreenLake Real Estate Fund:

       Timothy L. Neufeld, Esq.
       Yuriko M. Shikai, Esq.
       Eva Wong, Esq.
       NEUFELD MARKS
       A Professional Corporation
       315 West Ninth Street, Suite 501
       Los Angeles, CA 90015
       Telephone: (213) 625-2625
       Facsimile: (213) 625-2650
       E-mail: tneufeld@neufeldmarks.com
               yshikai@neufeldmarks.com
               ewong@neufeldmarks.com

              - and -

       Stephen F. Biegenzahn, Esq.
       FRIEDMAN LAW GROUP, P.C.
       1900 Avenue of the Stars, 11th Floor
       Los Angeles, CA 90067
       Telephone: (310) 552-8210
       Facsimile: (310) 733-5442
       E-mail: sbiegenzahn@flg-law.com

Office of the U.S. Trustee:

       Peter C. Anderson
       United States Trustee
       Abram S. Feuerstein
       ASSISTANT U.S. TRUSTEE
       Jason K. Schrader
       Trial Attorney
       United States Department Of Justice
       OFFICE OF THE UNITED STATES TRUSTEE
       3801 University Avenue, Suite 720
       Riverside, CA 92501-3200
       Telephone: (951) 276-6990
       Facsimile: (951) 276-6973
       E-mail: Abram.S.Feuerstein@usdoj.gov

                   About Wrightwood Guest Ranch

Wrightwood Guest Ranch LLC, a California limited liability company,
provides recreational services such as Snow Play, Zip Line,
endurance races, logging and other outdoor events at a 300-acre
property it owns in Wrightwood area of Los Angeles County.  WGR
also operates a wedding and special event center at a 2.45-acre
property at Wrightwood area.

WGR is 60% owned by Richard and Judy Halllett and 40% owned by GREF
WGR I, LLC, an affiliate of secured creditor GreenLake Real Estate
Fund, LLC.  WGR owns 100% of the interests in Wrightwood Guest
Ranch Holdings, LLC, which in turns owns 100% of the interests in
Wrightwood Canopy Tours, LC.

Being concerned about GreenLake's threat of foreclosure, unsecured
creditors Masterpiece Marketing, Larry Rundle, and Snyder
Dorenfeld, filed an involuntary petition against Wrightwood Guest
Ranch LLC (Bankr. C.D. Cal. Case No. 15-17799) on Aug. 5, 2015.
The Petitioners' counsel is Douglas A Plazak, Esq., at Reid &
Hellyer, APC, in Riverside, California.

The Bankruptcy Court on Aug. 31, 2015, granted Wrightwood Guest
Ranch's request for relief under Chapter 11 and vacated the
Involuntary Petition filed against the Debtor.

The case is assigned to Judge Scott C. Clarkson.

The Debtor tapped Walter & Wilhelm Law Group as bankruptcy counsel;
Hall & Company as accountants; and Baker, Manock & Jensen as
special counsel.

The Debtor filed a proposed Plan and Disclosure Statement on Oct.
26, 2015.  On Dec. 4, 2014, it filed an amended Plan and Disclosure
Statement.


XINERGY LTD: Unveils New Board Members, Expects to Exit Chapter 11
------------------------------------------------------------------
Xinergy Ltd., a U.S. producer of metallurgical and thermal coal,
has announced the new members of the Board of Directors and
executive officers to be appointed upon the Company's anticipated
emergence from Chapter 11 bankruptcy in early February 2016.

Jeffrey A. Wilson will serve as President and CEO of the
reorganized Company.  Mr. Wilson has recently served as Sr. Vice
President-Operations for the company and was formerly Interim
President of the J.W. Resources companies based in Knoxville, TN.
Mr. Wilson spent almost 20 years with A.T. Massey Coal Company and
5 years with James River Coal Company in various roles in
production, engineering, sales, and operations management.  Since
2005, he has also been owner and manager of Wilson Energy Advisors,
LLC, a consultancy specializing in management, property
evaluations, and financial analyses related to the mining industry.
Mr. Wilson holds a B.S. in Mining Engineering from West Virginia
University and an MBA from Marshall University.  He is a Registered
Professional Engineer, a Registered Member of SME-AIME and serves
on the Visiting Committee for the WVU Department of Mining
Engineering.

Michael R. Castle will continue to serve as Chief Financial Officer
of the reorganized Company.  
Mr. Castle has served as the Company's CFO since January 2010 and
has more than 24 years' experience in the coal industry, over 15 of
which has been serving as CFO.

The new members of the Board of Directors will include Mr. Wilson,
Matthew Cantor, formerly a partner with the law firm of Kirkland &
Ellis and founding principal of Normandy Hill Capital, Jacob
Mercer, a Senior Portfolio Manager with Whitebox Advisors, LLC,
Jeffrey Buller, a Managing Director with Spectrum Group Management
LLC, and an independent director to be named at a later date.

Upon the effective date of the restructuring, a new holding
company, White Forest Resources, Inc., will be formed to hold the
equity interests of Xinergy.

                       About Xinergy Ltd.

Xinergy is a U.S. producer of metallurgical and thermal coal with
mineral reserves, mining operations and coal properties located in
the Central Appalachian ("CAPP") regions of West Virginia and
Virginia.  Xinergy's operations principally include two active
mining complexes known as South Fork and Raven Crest located in
Greenbrier and Boone Counties, West Virginia.  Xinergy also leases
or owns the mineral rights to properties located in Fayette,
Nicholas and Greenbrier Counties, West Virginia and Wise County,
Virginia.  Collectively, Xinergy leases or owns mineral rights to
approximately 72,000 acres with proven and probable coal reserves
of approximately 77 million tons and additional estimated reserves
of 40 million tons.

Xinergy Ltd. and 25 subsidiaries commenced Chapter 11 bankruptcy
cases (Bankr. W.D. Va. Lead Case No. 15-70444) on April 6, 2015.
The cases have been assigned to Judge Paul M. Black.  The cases are
being jointly administered for procedural purposes.

Xinergy Ltd. disclosed $36,968,445 in assets and $215,000,000 in
liabilities as of the Chapter 11 filing.

The Debtors tapped Hunton & Williams LLP as attorneys; Global
Hunter Securities, as financial advisor, and American Legal Claims
Services, LLC as claims, noticing and balloting agent.

The U.S. Trustee appointed a two member official committee of
unsecured creditors.  The Committee tapped to retain McGuireWoods
LLP as lead counsel, and Whiteford, Taylor & Preston, LLP as its
local counsel.


                            *********

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

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

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

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

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

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

                            *********

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

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
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Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2016.  All rights reserved.  ISSN: 1520-9474.

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