TCR_Public/160121.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, January 21, 2016, Vol. 20, No. 21

                            Headlines

AFFINITY HEALTHCARE: Jan. 25 Meeting Set to Form Creditors' Panel
ALLIANCE WELL SERVICE: Case Summary & 20 Largest Unsecured Creditor
ALLY FINANCIAL: Declares Dividend on Preferred Stock
AMERICAN AGENCIES: Has Until April 15, 2016 to Assume Joviri Leases
AMERICAN AXLE: S&P Affirms 'BB-' CCR, Outlook Stable

AMERICAN GILSONITE: S&P Lowers Rating to 'CCC+', Outlook Negative
ATLANTIC CITY, NJ: Senate Prez Eyes State Takeover of Finances
ATLAS AMERICA 11-2002: Incurs Net Loss, Raises Going Concern Doubt
ATLAS AMERICA 12-2003: Managing Partner Raises Going Concern Doubt
ATLAS AMERICA 14-2004: General Partner Raises Going Concern Doubt

ATLAS AMERICA 14-2005(A): Raises Going Concern Doubt
ATLAS AMERICA 15-2005(A): Cites Net Loss, Going Concern Doubt
ATLAS AMERICA 15-2006(B): Reports Net Loss, Going Concern Doubt
ATLAS AMERICA 25-2004(B): Management Raises Going Concern Doubt
ATLAS AMERICA 25-2004: Cites Going Concern Doubt, Management Plans

ATLAS AMERICA 26-2005: General Partner Raises Going Concern Doubt
BLUES BBQ: Wants Case Converted to Chapter 7 Liquidation
BOOMERANG SYSTEMS: US Trustee to Continue 341 Meeting on Feb. 4
BORDER MEDICAL: Voluntary Chapter 11 Case Summary
CARDIAC SCIENCE: Major Creditor Buys Assets for $65M Credit Bid

CECCHI GORI: Cal. App. Affirms $5K Sanctions Against Founder
CHICAGO BOARD: Fitch Gives B+ Rating to Series 2016A ULTGO Bonds
CITY OF STOCKTON, CA: Franklin Templeton Drops Ch. 9 Challenge
CLEAN ENERGY: Raises Going Concern Doubt, Outlines Mgmt. Plans
CONGREGATION BIRCHOS: TD Bank Seeks Transparency Through MORs

CRP-2 HOLDINGS: Has Until Jan. 31 to Use Cash Collateral
DALLAS PROTON: Hearing on Case Conversion Continued to Feb. 1
DEWEY & LEBOEUF: Former Chairman Strikes Deal to Avoid 2nd Trial
DOMINION CITRUS: TSX Opts to Delist Series A Preference Shares
DPS INC: VER Acquires Business, Retains Key Employees

ECLIPSE RESOURCES: Moody's Lowers CFR to Caa2, Outlook Negative
ELBIT IMAGING: Fails to Complete Chennai India Transaction
ELBIT IMAGING: Signs Agreement to Sell Project in Kochi, India
ENERGY FUTURE: Texas Regulator Urged to Reject Oncor Sale
FANNIE MAE: Two Directors Appointed to Board

FOREST PARK SOUTHLAKE: Voluntary Chapter 11 Case Summary
FORTY ACRE: Louisiana Court Remands Suit Against Randall Alfred
FREEDOM COMMUNICATIONS: 'Challenge' Period Extended to Jan. 25
GEORGETOWN MOBILE: U.S. Bank Withdraws Bid for Case Dismissal
GEORGETOWN MOBILE: U.S. Trustee Withdraws Bid for Case Conversion

HAGGEN HOLDINGS: Amends Loan Documents to Waive Events of Default
HAGGEN HOLDINGS: Can Sell Payment Terminals to Supervalu
ICON HEALTH: S&P Puts 'B-' CCR on CreditWatch Negative
JOYCE LESLIE: Jan. 22 Meeting Set to Form Creditors' Panel
JTS LLC: Stipulates With Northrim on Use of Cash Collateral

KALOBIOS PHARMA: Investors File Suits Over Shkreli Disclosures
KALOBIOS PHARMA: Jan. 21 Meeting Set to Form Creditors' Panel
KALOBIOS PHARMACEUTICALS: Judge Freezes $5.4M Over Investor Suit
KEURIG GREEN: Moody's Assigns Ba3 CFR & Rates $6.4BB Debt Ba3
LA PERRONA BOTAS: Case Summary & 20 Largest Unsecured Creditors

LEHMAN BROTHERS: 2nd Circ. Refuses to Retry Suit Over Unpaid Bonus
LINDERIAN COMPANY: Case Summary & 20 Largest Unsecured Creditors
LWP CAPITAL: Claims Bar Date Set for March 15
MAPLE HOLDINGS: S&P Assigns 'BB-' CCR & Rates Facilities 'BB'
MBIA INSURANCE: Moody's Lowers IFS Rating to B3

MILLER ENERGY: Former Executive Reaches Deal to Resolve SEC Suit
MOLYCORP INC: Bloomberg Wins Time to Fight Disclosures
NET DATA: Exclusive Right to File Plan Extended to March 1
NEW GULF RESOURCES: 341 Meeting of Creditors Set for Jan. 26
NEW GULF RESOURCES: US Trustee Unable to Appoint Committee

NNN MET CENTER: GECMC Objects to Disclosure Statement
OW BUNKER: Court Denies Valero's Bid for Summary Judgment
PACIFIC ARCHITECTS: S&P Puts 'B+' CCR on CreditWatch Developing
PACIFIC EXPLORATION: Moody's Lowers CFR & Sr. Debt Ratings to C
PETROQUEST ENERGY: Moody's Lowers CFR to Caa3, Outlook Negative

PLATTSBURGH SUITES: Gets Approval to Hire North East Appraisals
PRESSURE BIOSCIENCES: Exceeds $5 Million PIPE Goal
PRESSURE BIOSCIENCES: Iliad Research Does Not Own Common Shares
PROGRESSIVE WASTE: Moody's Puts Ba1 CFR on Review for Upgrade
PSL NORTH AMERICA: Wins Confirmation of Chapter 11 Plan

PT HOLDCO: Chapter 15 Case Summary
PT HOLDCO: Monitor Seeks Temporary Restraining Order
PT HOLDCO: Monitor Wants Chapter 15 Cases Jointly Administered
PT HOLDCO: Seeking US Recognition of CCAA Proceeding
QUIKSILVER INC: Exit Financing Increased from $120M to $140M

RLJ ENTERTAINMENT: Receives NASDAQ Listing Non-Compliance Notice
SABINE OIL: Fights Creditors' Bid to Sue Over Forest Merger
SAMSON RESOURCES: Court OKs Indemnity Agreement with JPMorgan
SAMUEL E. WYLY: Says IRS Should "Put Up or Shut Up" on $2B Claim
SEPCO CORPORATION: Files for Chapter 11 Bankruptcy Protection

SEPCO CORPORATION: Hires Buckley King as Bankruptcy Counsel
SEPCO CORPORATION: Proposes PMCM LLC as Financial Advisor
SEPCO CORPORATION: Seeks OK to File Largest Asbestos PI Law Firms
SEPCO CORPORATION: Seeks to Employ KCC as Claims & Noticing Agent
SIMPLY FASHION: Judge Orders Return of Funds in 16 Banks

SMART TECHNOLOGIES: Receives Nasdaq Delisting Notice
SPIRE CORP: To Sell Sun Simulator Business to Eternal Sun
SPORTS AUTHORITY: Skips Interest Payment Amid Creditor Talks
ULTIMATE NUTRITION: FIFC to Finance Purchase of Insurance Policies
VERSO PAPER: Forgoes Term Loan and Notes Interest Payments

WEYLAND TECH: Raises Going Concern Doubt Amid Losses
WIRE COMPANY: Cowen and Company Approved as Investment Banker
WIRE COMPANY: Hires Fangda Partners as Chinese Counsel
YELLOW CAB CO-OP: Regulator Says Ch. 11 Filing Doesn't Mean Closure
YELLOWSTONE MOUNTAIN: 9th Circ. Rules Founder to Stay in Jail

[*] H. Jeffrey Schwartz Joins New York Office of Robins Kaplan
[*] Katz Joins Fried Frank's Bankruptcy & Restructuring Practice
[*] Ken Ziman to Join Lazard as Managing Director for Restructuring
[*] Manufacturers Face Threat of Industrial Recession, Moody's Says
[^] Recent Small-Dollar & Individual Chapter 11 Filings


                            *********

AFFINITY HEALTHCARE: Jan. 25 Meeting Set to Form Creditors' Panel
-----------------------------------------------------------------
William K. Harrington, United States Trustee of Region 2, will hold
an organizational meeting on January 25, 2016, at 10:00 a.m. in the
bankruptcy case of Affinity Healthcare Management, Inc.

The meeting will be held at:
        
         Giaimo Federal Building
         50 Court Street, Room 309
         New Haven, Connecticut 06510
         Telephone No. (203) 773-2210

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.



ALLIANCE WELL SERVICE: Case Summary & 20 Largest Unsecured Creditor
-------------------------------------------------------------------
Debtor: Alliance Well Service, LLC,
        A New Mexico Domestic Limited Liability Company
        PO Box 1807
        Artesia, NM 88211-1807

Case No.: 16-10078

Chapter 11 Petition Date: January 19, 2016

Court: United States Bankruptcy Court
       District of New Mexico (Albuquerque)

Debtor's Counsel: William F. Davis, Esq.
                  WILLIAM F. DAVIS & ASSOC., P.C.
                  6709 Academy NE, Suite A
                  Albuquerque, NM 87109
                  Tel: 505-243-6129
                  Fax: 505-247-3185
                  Email: daviswf@nmbankruptcy.com

Total Assets: $1.30 million

Total Liabilities: $4.52 million

The petition was signed by Tony A. Pennington, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nmb16-10078.pdf


ALLY FINANCIAL: Declares Dividend on Preferred Stock
----------------------------------------------------
Ally Financial Inc. has declared a quarterly dividend payment on
its Fixed Rate/Floating Rate Perpetual Preferred Stock, Series A,
of approximately $14.8 million, or $0.53 per share, which is
payable to shareholders of record as of Feb. 1, 2016.  This
dividend was declared by the Board of Directors on Jan. 11, 2016,
and is payable on Feb. 16, 2016.

                     About Ally Financial

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

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

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

                           *     *     *

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

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

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


AMERICAN AGENCIES: Has Until April 15, 2016 to Assume Joviri Leases
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Puerto Rico has given
American Agencies Co. Inc. until April 15, 2016, to assume its two
nonresidential leases with Joviri Inc.

The company needs additional time in order to finalize its
negotiations with the landlord of the terms governing the
assumption of the leases, according to its lawyer, Luisa Valle
Castro, Esq., at C. Conde & Assoc., in Old San Juan, Puerto Rico.

                      About American Agencies

Puerto Rico-based American Agencies Co., Inc., founded in 1956 by
Eng. Jorge A. Rivera Cardona sells and installs steel fabricated
structures, along with the sale of doors and hardware.  American
Agencies operates from leased facilities in Rio Piedras, Puerto
Rico.  New Steel, Inc., fabricates steel structures that American
Agencies sells and installs.

American Agencies and New Steel filed Chapter 11 bankruptcy
petitions (Bankr. D.P.R. Case Nos. 15-07088 and 15-07090,
respectively) on Sept. 15, 2015.  The petitions were signed by Omir
Mendez, the president.  The Debtors cases are substantive
consolidated under Lead Case 15-07088.

American Agencies disclosed $6,810,695 in assets and $9,738,804 in
debt in its schedules.  New Steel disclosed $8,429,855 in assets
and $12,182,464 in debt in its schedules.  Banco Popular de Puerto
Rico is the largest secured creditor.

The Debtors tapped C. Conde & Associates as counsel; Doris Barroso
Vicens, CPA, at RSM ROC & Company, as accountant; Xavier A. Curret
from Landa Umpierre, P.S., as external auditor; Moises
Avila-Sanchez, Esq., from Avila, Martinez & Hernandez, P.S.C., as
special counsel relating to collective bargaining agreements; Jose
Julian Alvarez-Maldonado Esq., from the firm Fiddler, Gonzalez &
Rodriguez, P.S.C., as special counsel to provide special services
in corporate and contractual matters; and Ismael Isern Suarez from
I.S. Appraiser Group, P.S.C., as appraiser.


AMERICAN AXLE: S&P Affirms 'BB-' CCR, Outlook Stable
----------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'BB-' corporate credit rating on American Axle & Manufacturing
Holdings Inc.  The outlook is stable.

At the same time, S&P raised its issue-level ratings on the
company's senior unsecured debt to 'BB-' from 'B+' and revised the
recovery ratings to '4' from '5'.  The '4' recovery ratings
indicate S&P's expectation of average (30%-50%; lower end of the
range) recovery in the event of a payment default.

"Our ratings on American Axle reflect the company's participation
in a cyclical and intensely competitive industry that is marked by
high fixed costs and ongoing pricing pressure," said Standard &
Poor's credit analyst Nishit Madlani.  "We assume that American
Axle will reduce its significant customer concentration with
General Motors Co. (GM) over time and expect that the company's new
business backlog, combined with ongoing growth in vehicle content,
will support the recent improvement in its credit metrics over the
next two years."

S&P's stable outlook on American Axle reflects S&P's expectation
that the company will see steady organic growth in 2016 because of
its exposure to the resurgent truck market.  S&P assumes that its
debt-to-EBITDA metric will remain around 3.0x-3.5x and that its
FOCF-to-debt ratio will remain at about 5%-10% over the next 12
months.

S&P could raise its ratings on American Axle if the company's
non-GM sales began to approach 50% of its total sales amidst steady
industry demand for light vehicles, assuming that GM's share of the
U.S. full-size pickup and large sport utility vehicle (SUV) markets
at least remain intact and the company successfully expands into
Europe and Asia.  However, these changes will take some time to
occur.  Under such a scenario, S&P could also raise its rating if
the company's debt-to-EBITDA metric decreased and remained below
3x.  Moreover, S&P would expect the company's free cash
flow-to-adjusted debt ratio to be about 15% on a sustained basis.

S&P could lower its ratings on American Axle if North American
light-vehicle demand weakens or if GM's share of the light-truck
market declines and it appears that the the company's
debt-to-EBITDA ratio will remain above 4x on a sustained basis.
This could occur if American Axle's 2016 gross margins fell below
16% on a sharp decline in light-truck sales, especially an
unanticipated sustained disruption in the production of GM's
full-size pickups and SUVs.  S&P would no longer views the CRA as
positive in those scenarios.  Also, S&P could lower the rating if
it came to believe that the company was unlikely to generate a
FOCF-to-debt ratio of at least 5% on a sustained basis.



AMERICAN GILSONITE: S&P Lowers Rating to 'CCC+', Outlook Negative
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it downgraded Bonanza,
Utah-based uintaite producer American Gilsonite Co. to 'CCC+' from
'B-'.  The outlook is negative.

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

The downgrade reflects S&P's view of American Gilsonite's credit
profile given deteriorating operating performance and weakening
credit measures.  Falling oil and gas prices have translated into
reduced drilling activity, which has lowered demand for drilling
fluid additives, including Gilsonite.

Earlier in January, Standard & Poor's lowered its near- and
long-term price assumptions for crude oil and natural gas due to
oversupply in the oil market and abundant output of natural gas.
S&P expects challenging operating conditions in the oil and gas end
market to persist well into 2016 as depressed oil and gas prices
weigh on drilling and completion activity.

"The negative outlook reflects our view of American Gilsonite's
weakening credit measures and liquidity position," said Standard &
Poor's credit analyst Ryan Gilmore.  "We expect oil and gas
drilling and completion activity to remain sluggish over the next
12 months due to an oversupplied oil market and greater efficiency
in natural gas production.  As a result, we expect low demand for
Gilsonite in drilling fluids, American Gilsonite's principal end
use, to result in negative operating cash flow and pressure the
company's liquidity position."

S&P would consider a downgrade if it no longer deemed liquidity to
be adequate.  This could occur if demand for Gilsonite remained
weak, resulting in accelerated cash and revolving credit facility
usage, or if the company's second-lien notes became current.  In
addition, S&P would lower its corporate credit rating on American
Gilsonite to 'CCC' if S&P believes that a default is likely over
the next 12 months absent an unforeseen positive development.

An upgrade is unlikely given the company's limited prospects for
near-term cash flow generation.  However, S&P would consider
raising its rating on the company if the company achieved a
sustainable improvement in credit measures, with leverage of less
than 5x and FFO to debt more than 12%.



ATLANTIC CITY, NJ: Senate Prez Eyes State Takeover of Finances
--------------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reported that New Jersey
Senate President Steve Sweeney posed legislation to Jan. 12, 2016,
to allow a state takeover of Atlantic City's finances, saying if
the Legislature does not act on the proposal in the near future, he
would support bankruptcy for the city.

The measure -- which the Democrat representing Gloucester is
backing along with Sens. Paul Sarlo, D-Bergen, and Kevin O'Toole,
R-Essex -- is part of a flurry of legislative activity surrounding
Atlantic City as municipal officials face pressure to get their
fiscal house in order.


ATLAS AMERICA 11-2002: Incurs Net Loss, Raises Going Concern Doubt
------------------------------------------------------------------
Atlas America Public #11-2002 Ltd. incurred a net loss of $348,800
for the three months ended September 30, 2015, compared with a net
loss of $93,200 for the same period in 2014.  At September 30,
2015, the partnership had total assets of $1,815,900 and total
partners' deficit of $2,661,200.

There was no cash provided by operating activities in the nine
months ended September 30, 2015 resulting in a decrease of $157,100
as compared to the nine months ended September 30, 2014.  This
decrease was mostly due to a decrease in net loss depletion,
accretion, impairment and non-cash gain on derivative value of
$363,100, a decrease in the change in the asset retirement
receivable of $173,300, and a decrease in accounts receivable
trade-affiliate of $11,700. Partially offsetting this decrease was
an increase in the change of the accounts payable trade-affiliate
of $387,700, an increase in accrued liabilities of $3,000, and an
increase in the change of asset retirement obligations settled of
$300.  

There was no cash used in financing activities during the nine
months ended September 30, 2015.  Cash used in financing activities
was $202,500 for the nine months ended September 30, 2014 due to
cash distributions to partners.

Freddie M. Kotek, chairman of the board of directors, chief
executive officer and president, and Jeffrey M. Slotterback, chief
financial officer of the partnership's managing general partner
(MGP), in a November 23, 2015 regulatory filing with the U.S.
Securities and Exchange Commission, related: "Our MGP may withhold
funds for future plugging and abandonment costs.  Through September
30, 2015, our MGP withheld $222,700 of funds for this purpose. Any
additional funds, if required, will be obtained from production
revenues or borrowings from our MGP or its affiliates, which are
not contractually committed to make loans to us. The amount that we
may borrow at any one time may not at any time exceed 5% of our
total subscriptions, and we will not borrow from third-parties.

"We are generally limited to the amount of funds generated by the
cash flows from our operations, which we believe is adequate to
fund future operations and distributions to our partners.

"Historically, there has been no need to borrow funds from our MGP
to fund operations.  However, recent declines in commodity prices
may challenge the partnership's ability to pay its obligations as
they become due and its intention to produce its wells until they
are depleted, as they may become uneconomical to produce.

"Accordingly, the MGP determined that there is substantial doubt
about the partnership's ability to continue as a going concern."

According to the officers, the MGP has planned, as necessary, to
continue the partnership's operations and to fund the partnership's
operations for at least the next 12 months.  The MGP has concluded
that such undertaking is sufficient to alleviate the doubt as to
the partnership's ability to continue as a going concern.

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

Pittsburgh, Pennsylvania-based Atlas America Public #11-2002 Ltd.
(the partnership) was formed in 2002 with Atlas Resources, LLC
serving as its managing general partner and operator (Atlas
Resources or MGP).  Atlas Resources is an indirect subsidiary of
Atlas Resource Partners, L.P. (NYSE: ARP).  The partnership has
drilled and currently operates wells located in Pennsylvania and
Ohio.



ATLAS AMERICA 12-2003: Managing Partner Raises Going Concern Doubt
------------------------------------------------------------------
Atlas America Public #12-2003 Limited Partnership's managing
general partner (MGP) determined that there is substantial doubt
about the partnership's ability to continue as a going concern,
according to Freddie M. Kotek, chairman of the board of directors,
chief executive officer and president, and Jeffrey M. Slotterback,
chief financial officer of the MGP in a November 23, 2015
regulatory filing with the U.S. Securities and Exchange
Commission.

According to Messrs. Kotek and Slotterback: "Cash provided by
operating activities decreased $75,300 to $0 in the nine months
ended September 30, 2015 as compared to $75,300 for the nine months
ended September 30, 2014.  This decrease was mostly due to a
decrease in net loss before depletion, accretion, impairment and a
non-cash loss on derivative value of $405,300, a decrease in the
change in accounts receivable trade-affiliate of $228,900, and a
decrease in the change in asset retirement receivable affiliate of
$73,500.  The decrease was partially offset by an increase in the
change in accounts payable trade-affiliate of $626,400 and an
increase in accrued liabilities of $6,000 for the nine months ended
September 30, 2015 compared to the nine months ended September 30,
2014.

"Our MGP may withhold funds for future plugging and abandonment
costs.  Through September 30, 2015, our MGP has withheld $589,200
of funds for this purpose.  Any additional funds, if required, will
be obtained from production revenues or borrowings from our MGP or
its affiliates, which are not contractually committed to make loans
to us.  The amount that we may borrow at any one time may not at
any time exceed 5% of our total subscriptions, and we will not
borrow from third-parties.

"We are generally limited to the amount of funds generated by the
cash flows from our operations, which we believe is adequate to
fund future operations and distributions to our partners.
Historically, there has been no need to borrow funds from our MGP
to fund operations.  However, recent declines in commodity prices
may challenge the partnership's ability to pay its obligations as
they become due and its intention to produce its wells until they
are depleted, as they may become uneconomical to produce.

"Accordingly, the MGP determined that there is substantial doubt
about the partnership's ability to continue as a going concern.

"The MGP has planned, as necessary, to continue the partnership's
operations and to fund the partnership's operations for at least
the next 12 months.  The MGP has concluded that such undertaking is
sufficient to alleviate the doubt as to the partnership's ability
to continue as a going concern."

At September 30, 2015, the partnership had total assets of
$2,457,500 and total partners' deficit of $3,792,300.

For the three months ended September 30, 2015, the partnership
posted a net loss of $922,900 as compared with a net loss of
$187,400 for the quarter ended September 30, 2014.

A full-text copy of the partnership's quarterly report is available
for free at: http://tinyurl.com/jg2o3to

Atlas America Public #12-2003 Limited Partnership was formed in
2003 with Atlas Resources, LLC serving as its managing general
partner and operator (Atlas Resources or MGP).  

The Pittsburgh, Pennsylvania-based partnership has drilled and
currently operates wells located in Pennsylvania.  The partnership
intends to continue to produce its wells until they are depleted or
become uneconomical to produce, at which time they will be plugged
and abandoned or sold.



ATLAS AMERICA 14-2004: General Partner Raises Going Concern Doubt
-----------------------------------------------------------------
Atlas America Public #14-2004 L.P. posted a net loss of $950,400
for the three months ended September 30, 2015 as compared with a
net loss of $197,700 for the three months ended September 30, 2014.
Moreover, at September 30, 2015, the partnership had total assets
of $2,568,200 and total partners' deficit of $3,662,500.

Cash provided by operating activities decreased $321,700 in the
nine months ended September 30, 2015 to $0 as compared to $321,700
for the nine months ended September 30, 2014.  

Cash used in financing activities was $340,000 for the nine months
ended September 30, 2014.  This was due to cash distributions to
partners.  There was no cash used in financing activities for the
nine months ended September 30, 2015.

Freddie M. Kotek, chairman of the board of directors, chief
executive officer and president, and Jeffrey M. Slotterback, chief
financial officer of the partnership's managing general partner
(MGP) in a November 23, 2015 regulatory filing with the U.S.
Securities and Exchange Commission, related: "Our MGP may withhold
funds for future plugging and abandonment costs.  Through September
30, 2015, our MGP has withheld $329,800 of funds for this purpose.


"We are generally limited to the amount of funds generated by the
cash flows from our operations, which we believe is adequate to
fund future operations and distributions to our partners.
Historically, there has been no need to borrow funds from our MGP
to fund operations.  However, recent declines in commodity prices
may challenge the partnership's ability to pay its obligations as
they become due and its intention to produce its wells until they
are depleted, as they may become uneconomical to produce.

"Accordingly, the MGP determined that there is substantial doubt
about the partnership's ability to continue as a going concern.  

"The MGP has planned, as necessary, to continue the partnership's
operations and to fund the partnership's operations for at least
the next 12 months.  The MGP has concluded that such undertaking is
sufficient to alleviate the doubt as to the partnership's ability
to continue as a going concern."

A full-text copy of the partnership's quarterly report is available
for free at: http://tinyurl.com/gtcf247

Atlas America Public #14-2004 L.P. is a Delaware limited
partnership, formed on May 3, 2004 with Atlas Resources, LLC
serving as its Managing General Partner and Operator (Atlas
Resources or the MGP).  Atlas Resources is an indirect subsidiary
of Atlas Resource Partners, L.P. (ARP) (NYSE: ARP).  The
partnership has drilled and currently operates wells located in
Pennsylvania and Tennessee.


ATLAS AMERICA 14-2005(A): Raises Going Concern Doubt
----------------------------------------------------
Atlas America Public #14-2005 (A) L.P.'s managing general partner
(MGP) determined that there is substantial doubt about the
partnership's ability to continue as a going concern, according to

Freddie M. Kotek, chairman of the board of directors, chief
executive officer and president, and Jeffrey M. Slotterback, chief
financial officer of the MGP, in a regulatory filing with the U.S.
Securities and Exchange Commission on November 23, 2015.

For the three months ended September 30, 2015, the partnership
incurred a net loss of $1,356,200 as compared with a net loss of
$232,500 for the same period in 2014.

Cash flows from operating activities decreased $558,200 in the nine
months ended September 30, 2015 to cashed used in $300 as compared
to cash provided by $557,900 of cash provided by operating
activities for the nine months ended September 30, 2014.  

Cash provided by investing activities was $300 and $2,200 for the
nine months ended September 30, 2015 and 2014, respectively,
resulting from the proceeds from the sale of tangible equipment.  

There was no cash used in financing activities for the nine months
ended September 30, 2015. There was $686,700 of cash used in
financing during the nine months ended September 30, 2014, for the
distributions to partners.

Messrs. Kotek and Slotterback related: "Our MGP may withhold funds
for future plugging and abandonment costs.  Through September 30,
2015, our MGP has withheld $432,800 of funds for this purpose.

"We are generally limited to the amount of funds generated by the
cash flows from our operations, which we believe is adequate to
fund future operations and distributions to our partners.
Historically, there has been no need to borrow funds from our MGP
to fund operations. However, recent declines in commodity prices
may challenge the partnership's ability to pay its obligations as
they become due and its intention to produce its wells until they
are depleted, as they may become uneconomical to produce.

"Accordingly, the MGP determined that there is substantial doubt
about the partnership's ability to continue as a going concern.

"The MGP has planned, as necessary, to continue the partnership's
operations and to fund the partnership's operations for at least
the next 12 months.  The MGP has concluded that such undertaking is
sufficient to alleviate the doubt as to the partnership's ability
to continue as a going concern."

At September 30, 2015, the partnership had total assets of
$3,470,700 and total partners' deficit of $4,119,100.

A full-text copy of the partnership's quarterly report is available
for free at: http://tinyurl.com/ztu7lyb

Atlas America Public #14-2005 (A) L.P. is a Delaware limited
partnership, formed on March 3, 2005 with Atlas Resources, LLC
serving as its Managing General Partner and Operator (Atlas
Resources or the MGP).  Atlas Resources is an indirect subsidiary
of Atlas Resource Partners, L.P. (ARP) (NYSE: ARP).

The Pittsburgh-based partnership has drilled and currently operates
wells located in Pennsylvania and Tennessee.



ATLAS AMERICA 15-2005(A): Cites Net Loss, Going Concern Doubt
-------------------------------------------------------------
Atlas America Public #15-2005 (A) L.P. reported a net loss of
$1,814,100 for the three months ended September 30, 2015 as
compared with a net loss of $99,700 for the three-month period
ended September 30, 2014.

Cash provided by operating activities decreased $387,800 in the
nine months ended September 30, 2015 to $0 as compared to $387,800
for the nine months ended September 30, 2014.  

There was no cash provided by investing activities for the nine
months ended September 30, 2015.  Cash provided by investing
activities was $2,200 for the nine months ended September 30, 2014
resulting from proceeds received for the sale of tangible
equipment.

Cash used in financing activities was $433,500 for the nine months
ended September 30, 2014.  This was due to cash distributions to
partners. There was no cash used in financing activities for the
nine months ended September 30, 2015.

Freddie M. Kotek, chairman of the board of directors, chief
executive officer and president, and Jeffrey M. Slotterback, chief
financial officer of the partnership's managing general partner
(MGP), in a regulatory filing with the U.S. Securities and Exchange
Commission on November 23, 2015, noted: "Our MGP may withhold funds
for future plugging and abandonment costs.  Through September 30,
2015, our MGP has withheld $64,300 of funds for this purpose.

"We are generally limited to the amount of funds generated by the
cash flows from our operations, which we believe is adequate to
fund future operations and distributions to our partners.
Historically, there has been no need to borrow funds from our MGP
to fund operations.  However, recent declines in commodity prices
may challenge the partnership's ability to pay its obligations as
they become due and its intention to produce its wells until they
are depleted, as they may become uneconomical to produce.

"Accordingly, the MGP determined that there is substantial doubt
about the partnership's ability to continue as a going concern.

"The MGP has planned, as necessary, to continue the partnership's
operations and to fund the partnership's operations for at least
the next 12 months.  The MGP has concluded that such undertaking is
sufficient to alleviate the doubt as to the partnership's ability
to continue as a going concern."

At September 30, 2015, the partnership had total assets of
$1,985,900 and total partners' deficit of $2,412,800.

A full-text copy of the partnership's quarterly report is available
for free at: http://tinyurl.com/hmrbhz5

Atlas America Public #15-2005 (A) L.P. is a Delaware limited
partnership, formed on July 25, 2005 with Atlas Resources, LLC
serving as its Managing General Partner and Operator (Atlas
Resources or the MGP).  Atlas Resources is an indirect subsidiary
of Atlas Resource Partners, L.P. (ARP) (NYSE: ARP).

The partnership has drilled and currently operates wells located in
Pennsylvania and Tennessee.  It intends to continue to produce its
wells until they are depleted or become uneconomical to produce, at
which time they will be plugged and abandoned or sold.


ATLAS AMERICA 15-2006(B): Reports Net Loss, Going Concern Doubt
---------------------------------------------------------------
Atlas America Public #15-2006 (B) L.P. reported a net loss of
$3,482,100 for the three months ended September 30, 2015, compared
with a net loss of $360,300 for the same period in 2014.

According to Freddie M. Kotek, chairman of the board of directors,
chief executive officer and president, and Jeffrey M. Slotterback,
chief financial officer of the partnership's managing general
partner (MGP), in a regulatory filing with the U.S. Securities and
Exchange Commission on November 23, 2015, cash provided by
operating activities decreased $1,420,400 in the nine months ended
September 30, 2015 to cash used in operating activities of $200 as
compared to cash provided by operating activities of $1,420,200 for
the nine months ended September 30, 2014.  

Cash provided by investing activities was $200 and $1,100 for the
nine months ended September 30, 2015 and 2014, respectively, from
the sale of tangible equipment.  

Cash used in financing activities was $1,588,400 for the nine
months ended September 30, 2014. This was due to cash distributions
to partners.  There was no cash used in financing activities for
the nine months ended September 30, 2015.

"Our MGP may withhold funds for future plugging and abandonment
costs.  Through September 30, 2015, our MGP has withheld $164,900
of funds for this purpose," Messrs. Kotek and Slotterback stated.

"We are generally limited to the amount of funds generated by the
cash flows from our operations, which we believe is adequate to
fund future operations and distributions to our partners.
Historically, there has been no need to borrow funds from our MGP
to fund operations.  However, recent declines in commodity prices
may challenge the partnership's ability to pay its obligations as
they become due and its intention to produce its wells until they
are depleted, as they may become uneconomical to produce.

"Accordingly, the MGP determined that there is substantial doubt
about the partnership's ability to continue as a going concern.

"The MGP has planned, as necessary, to continue the partnership's
operations and to fund the partnership's operations for at least
the next 12 months.  The MGP has concluded that such undertaking is
sufficient to alleviate the doubt as to the partnership's ability
to continue as a going concern."

At September 30, 2015, the partnership had total assets of
$4,802,700 and total partners' deficit of $6,275,300.

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

Atlas America Public #15-2006 (B) L.P. is a Delaware limited
partnership, formed on May 9, 2006 with Atlas Resources, LLC
serving as its Managing General Partner and Operator (Atlas
Resources or the MGP).  Atlas Resources is an indirect subsidiary
of Atlas Resource Partners, L.P. (ARP) (NYSE: ARP).

The Pittsburgh-based partnership has drilled and currently operates
wells located in Pennsylvania, Tennessee, and Ohio.



ATLAS AMERICA 25-2004(B): Management Raises Going Concern Doubt
---------------------------------------------------------------
Atlas America Series 25-2004 (B) L.P.'s managing general partner
(MGP) determined that there is substantial doubt about the
partnership's ability to continue as a going concern.

Freddie M. Kotek, chairman of the board of directors, chief
executive officer and president, and Jeffrey M. Slotterback, chief
financial officer of the MGP, in a regulatory filing with the U.S.
Securities and Exchange Commission on November 23, 2015, noted that
cash provided by operating activities decreased $152,200 in the
nine months ended September 30, 2015 to $0 as compared to $152,200
for the nine months ended September 30, 2014.  

There was no cash provided by investing activities for the nine
months ended September 30, 2015.  In the nine months ended
September 30, 2014, cash provided by investing activities was $200,
resulting from proceeds from the sale of tangible equipment.  

Cash used in financing activities was $169,700 for the nine months
ended September 30, 2014. This was due to cash distributions to
partners. There was no cash used in financing activities for the
nine months ended September 30, 2015.

The MGP may withhold funds for future plugging and abandonment
costs.  Through September 30, 2015, the MGP has withheld $220,300
of funds for this purpose.

Messrs. Kotek and Slotterback pointed out: "We are generally
limited to the amount of funds generated by the cash flows from our
operations, which we believe is adequate to fund future operations
and distributions to our partners.  Historically, there has been no
need to borrow funds from our MGP to fund operations.  However,
recent declines in commodity prices may challenge the partnership's
ability to pay its obligations as they become due and its intention
to produce its wells until they are depleted, as they may become
uneconomical to produce.  

"Accordingly, the MGP determined that there is substantial doubt
about the partnership's ability to continue as a going concern.

"The MGP has planned, as necessary, to continue the partnership's
operations and to fund the partnership's operations for at least
the next 12 months.  The MGP has concluded that such undertaking is
sufficient to alleviate the doubt as to the partnership's ability
to continue as a going concern."

At September 30, 2015, the partnership had total assets of
$1,609,100 and total partners' deficit of $2,522,900.

The partnership reported a net loss of $891,600 for the three
months ended September 30, 2015, compared with a net loss of
$120,800 for the three months ended September 30, 2014.

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

Based in Pittsburgh, Atlas America Series 25-2004 (B) L.P. is a
Delaware limited partnership formed on January 21, 2004 with Atlas
Resources, LLC serving as its managing general partner and
operator. Atlas Resources is an indirect subsidiary of Atlas
Resource Partners, L.P. (ARP).  The partnership currently operates
wells located in Pennsylvania, Tennessee and West Virginia.



ATLAS AMERICA 25-2004: Cites Going Concern Doubt, Management Plans
------------------------------------------------------------------
Atlas America Series 25-2004 (A) L.P.'s managing general partner
(MGP) determined that there is substantial doubt about the
partnership's ability to continue as a going concern in light of
recent declines in commodity prices, according to Freddie M. Kotek,
chairman of the board of directors, chief executive officer and
president, and Jeffrey M. Slotterback, chief financial officer of
the MGP in a regulatory filing with the U.S. Securities and
Exchange Commission dated November 23, 2015.

The partnership posted a net loss of $825,700 for the three months
ended September 30, 2015, compared with a net loss of $101,300 for
the three months ended September 30, 2014.

At September 30, 2015, the partnership had total assets of
$1,275,100 and total partners' deficit of $2,306,300.

Cash flows from operating activities decreased $148,400 in the nine
months ended September 30, 2015 to cash used in operating
activities of $1,900 as compared to $146,500 of cash provided by
operating activities for the nine months ended September 30, 2014.
   This decrease was mostly due to a decrease in net (loss) income
before depletion, accretion, and impairment and a net non-cash
(gain) loss in derivatives of $311,900, a decrease in the change in
asset retirement receivable-affiliate of $149,700, and a decrease
in the change in accounts receivable of $106,300.  The decrease was
partially offset by an increase in the change in accounts payable
trade-affiliate of $296,500, an increase in the change in limited
partner payable of $120,400 and an increase in the change in
accrued liabilities of $2,500.  In addition, an increase resulted
from change in asset retirement obligations settled of $100 for the
nine months ended September 30, 2015 compared to the nine months
ended September 30, 2014.

Cash provided by investing activities was $1,100 for the nine
months ended September 30, 2014 due to the sale of tangible
equipment.

Cash used in financing activities decreased $175,300 during the
nine months ended September 30, 2015 to $1,900 from $177,200 for
the nine months ended September 30, 2014. This decrease was due to
a decrease in cash distributions to partners.

Messrs. Kotek and Slotterback pointed out: "Our MGP may withhold
funds for future plugging and abandonment costs.  Through September
30, 2015, our MGP has withheld $184,000 of funds for this purpose.
Any additional funds, if required, will be obtained from production
revenues or borrowings from our MGP or its affiliates, which are
not contractually committed to make loans to us.  The amount that
we may borrow at any one time may not at any time exceed 5% of our
total subscriptions, and we will not borrow from third-parties.

"We are generally limited to the amount of funds generated by the
cash flows from our operations, which we believe is adequate to
fund future operations and distributions to our partners.  
Historically, there has been no need to borrow funds from our MGP
to fund operations.  However, recent declines in commodity prices
may challenge the partnership's ability to pay its obligations as
they become due and its intention to produce its wells until they
are depleted, as they may become uneconomical to produce.

"Accordingly, the MGP determined that there is substantial doubt
about the partnership's ability to continue as a going concern.

"The MGP has planned, as necessary, to continue the partnership's
operations and to fund the partnership's operations for at least
the next 12 months.  The MGP has concluded that such undertaking is
sufficient to alleviate the doubt as to the partnership's ability
to continue as a going concern."

A full-text copy of the partnership's quarterly report is available
for free at: http://tinyurl.com/h7a7vhs

Pittsburgh, Pennsylvania-based Atlas America Series 25-2004 (A)
L.P. is a Delaware limited partnership formed on January 21, 2004
with Atlas Resources, LLC serving as its managing general partner
and operator (MGP).  The partnership has drilled and continues to
operate wells located in Pennsylvania and Tennessee.




ATLAS AMERICA 26-2005: General Partner Raises Going Concern Doubt
-----------------------------------------------------------------
Atlas America Series 26-2005 L.P.'s managing general partner (MGP)
determined that there is substantial doubt about the partnership's
ability to continue as a going concern, related Freddie M. Kotek,
chairman of the board of directors, chief executive officer and
president, and Jeffrey M. Slotterback, chief financial officer of
the MGP, in a regulatory filing with the U.S. Securities and
Exchange Commission on November 23, 2015.

Cash provided by operating activities decreased $300,500 in the
nine months ended September 30, 2015 to no cash flows from
operating activities as compared to $300,500 for the nine months
ended September 30, 2014.

Cash used in financing activities was $344,200 for the nine months
ended September 30, 2014. This was due to cash distributions to
partners.  There was no cash used in financing activities for the
nine months ended September 30, 2015.

The MGP may withhold funds for future plugging and abandonment
costs.  Through September 30, 2015, the MGP has withheld $36,300 of
funds for this purpose.

Messrs. Kotek and Slotterback pointed out: "We are generally
limited to the amount of funds generated by the cash flows from our
operations, which we believe is adequate to fund future operations
and distributions to our partners.  Historically, there has been no
need to borrow funds from our MGP to fund operations.  However,
recent declines in commodity prices may challenge the partnership's
ability to pay its obligations as they become due and its intention
to produce its wells until they are depleted, as they may become
uneconomical to produce.

"Accordingly, the MGP determined that there is substantial doubt
about the partnership's ability to continue as a going concern.

"The MGP has planned, as necessary, to continue the partnership's
operations and to fund the partnership's operations for at least
the next 12 months.  The MGP has concluded that such undertaking is
sufficient to alleviate the doubt as to the partnership's ability
to continue as a going concern."

At September 30, 2015, the partnership had total assets of
$1,302,600 and total partners' deficit of $1,768,600.

For the three months ended September 30, 2015, the partnership
reported a net loss of $782,000 as compared with a net loss of
$96,300 for the three months ended September 30, 2014.

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

Atlas America Series 26-2005 L.P. is a Delaware limited
partnership, formed on May 26, 2005 with Atlas Resources, LLC
serving as its Managing General Partner and Operator (Atlas
Resources or the MGP).  Atlas Resources is an indirect subsidiary
of Atlas Resource Partners, L.P. (ARP) (NYSE: ARP).  The
partnership has drilled and currently operates wells located in
Pennsylvania and Tennessee.



BLUES BBQ: Wants Case Converted to Chapter 7 Liquidation
--------------------------------------------------------
Blues BBQ & Grill East Dundee, Inc., which filed for Chapter 11
bankruptcy protection (Bankr. N.D. Ill. Case No. 15-41510) on Dec.
9, 2015, is asking the Bankruptcy Court to convert the case to one
under Chapter 7 liquidation, Erin Sauder at Elgin Courier-News
reports.

According to Courier-News, the motion to convert to Chapter 7 was
filed in the past week.

"We just weren't able to get all the ducks in a row to keep the
business open in a way that would make the Chapter 11 feasible.
The original thought was that all the numbers would make it work
and when we took some time to really look at them it didn't look
like that was going to happen," Courier-News quoted Colleen G.
Thomas, Esq., at Thomas Law Office, the attorney for the Debtor, as
saying.

An offer by a husband and wife team interested in keeping the site
as a barbecue restaurant has fallen through, Courier-News relates,
citing OTTO President Tom Roeser, who owns the building at 102 N.
River Street.  "But we have others interested who view this as an
opportunity.  In general, the message is this restaurant can
prevail.  We had management that became absentee and you can't win
with bad management," the report quoted Mr. Roeser as saying.

Blues BBQ & Grill East Dundee, Inc., is an East Dundee restaurant
owned by Patrick Maggi and Robert "Buzz" Doyle.  It opened in 2014.


BOOMERANG SYSTEMS: US Trustee to Continue 341 Meeting on Feb. 4
---------------------------------------------------------------
The U.S. trustee overseeing the Chapter 11 case of Boomerang
Systems Inc. will continue the meeting of creditors on Feb. 4,
2016, at 10:00 a.m., according to a filing with the U.S. Bankruptcy
Court for the District of Delaware.

The meeting will be held at J. Caleb Boggs Federal Building, Room
2112, 844 King Street, Wilmington, Delaware.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                      About Boomerang Systems

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

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

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

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


BORDER MEDICAL: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Border Medical Specialists, PA
            aka Teresa A. Reed, MD, PA
        1400 George Dieter Drive #170
        El Paso, TX 79936

Case No.: 16-30078

Nature of Business: Health Care

Chapter 11 Petition Date: January 19, 2016

Court: United States Bankruptcy Court
       Western District of Texas (El Paso)

Judge: Hon. Christopher H. Mott

Debtor's Counsel: Carlos A. Miranda, III, Esq.
                  MIRANDA & MALDONADO, P.C.
                  5915 Silver Springs, Bldg. 7
                  El Paso, TX 79912
                  Tel: (915) 587-5000
                  Fax: (915) 587-5001
                  Email: cmiranda@mirandafirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Teresa A. Reed, MD, president.

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


CARDIAC SCIENCE: Major Creditor Buys Assets for $65M Credit Bid
---------------------------------------------------------------
Jeff Zalesin at Bankruptcy Law360 reported that an arm of private
equity firm Aurora Capital Group has won a Wisconsin bankruptcy
judge's approval to buy automated external defibrillator maker
Cardiac Science out of Chapter 11 with a stalking-horse offer that
includes a $65 million credit bid.

U.S. Bankruptcy Judge Robert D. Martin signed off on the sale of
Cardiac Science Corp. to major creditor CFS 915 LLC, an affiliate
of Aurora Resurgence, on Jan. 8, 2016.  The deal includes a
$65 million credit bid and an agreement for Aurora to take on some
other liabilities.

                        About Cardiac Science

Headquartered in Waukesha, Wisconsin, Cardiac Science Corporation
develops, manufactures and sells a variety of advanced diagnostic
and therapeutic cardiology devices and systems, including automated
external defibrillators, hospital defibrillators and related
products and consumables.

Cardiac Science filed Chapter 11 bankruptcy petition (Bankr. W.D.
Wisc. Case No. 15-13766) on Oct. 20, 2015.  The petition was signed
by Michael Kang as chief restructuring officer.

The Company currently employs approximately 200 people in two
facilities located in Wisconsin, and another 93 part time
"educators" around the country who educate the Debtor's customers
on how to use its products.  The Debtor has customers in more than
100 countries.

The Company estimated assets in the range of $10 million to $50
million and liabilities of at least $100 million.

Celestica Electronics (M) SDN BHD is the Debtor's largest unsecured
creditor holding a claim of $2.5 million.

The Debtor has engaged Whyte Hirschboeck Dudek S.C. as bankruptcy
counsel, Livingstone Partners LLC as investment banker and Garden
City Group, LLC as notice and claims agent.

Judge Robert D. Martin presides over the case.


CECCHI GORI: Cal. App. Affirms $5K Sanctions Against Founder
------------------------------------------------------------
The action is one of a series of lawsuits in the United States and
Italy, all arising out of the collapse of the financial empire of
Vittorio Cecchi Gori, an Italian businessman and film producer.
According to the allegations in the complaint, Cecchi Gori
fraudulently transferred millions of dollars from the bankruptcy
estate of his limited liability company, Fin.Ma. Vi S.p.A
(Finmavi), in an effort to put assets out of the reach of
creditors.  Cecchi Gori was the sole shareholder, president, and
chairman of the board of directors of Finmavi.  At its peak,
Finmavi operated more than 40 companies in the business of film
production, distribution, exhibition, television multimedia, real
estate, and professional soccer.

Nous S.r.l. is an Italian limited liability company in the real
estate business that Cecchi Gori used to own.  Nous is now
undergoing liquidation under the jurisdiction of the Court of Rome,
which appointed Davide Franco and Sergio Torri as co-liquidators of
Nous to satisfy the debts of Nous's creditors.  Nous owns 100% of a
Luxembourg company called Promint Holdings S.A., which in turn owns
100% of a Dutch company called Cecchi Gori Group Europe B.V., which
in turns owns 100% of the two United States companies involved in
the action, Cecchi Gori Pictures and Cecchi Gori USA, Inc.  Based
on these allegations, Nous claimed that it is the ultimate parent
of Cecchi Gori Pictures and Cecchi Gori USA.

Each the three defendants -- Vittorio Cecchi Gori, et al. --
appeals a discovery order that imposed monetary sanctions in the
amount of $5,460.  The defendants argue Nous's discovery was
overbroad and unduly burdensome.  None of the defendants, however,
submitted any evidence showing the nature and extent of the burden,
as required.  And the trial court actually sustained the
overbreadth objections and limited production of documents to the
time period after 2001.

In a Decision dated December 14, 2015, which is available at
http://is.gd/JwJW7tfrom Leagle.com, the Court of Appeals of
California, Second District, Division Seven, affirmed the orders of
the trial court in imposing monetary sanctions, with Nous to
recover cost on appeal.

The case is NOUS, S.r.l., Plaintiff and Respondent, v. VITTORIO
CECCHI GORI, et al. Defendants and Appellants, No. B256996.

Blakely Law Group, Brent H. Blakely, Esq. and Michael Marchand,
Esq. for Defendant and Appellant Vittorio Cecchi Gori.

Wolf, Rifkin, Shapiro, Schulman & Rabkin, Mark J. Rosenbaum, Esq.
-- mrosenbaum@wrslawyers.com and Stephen M. Levine, Esq. --
slevine@wrslawyers.com for Defendants and Appellants Cecchi Gori
Pictures and Cecchi Gori USA, Inc.

Alston & Bird, Peter E. Masaitis, Esq. -- peter.masaitis@alston.com
and Evan W. Woolley, Esq. -- evan.woolley@alston.com for Plaintiff
and Respondent.

                 About Cecchi Gori

Headquartered in Rome, Italy, Cecchi Gori Group --
http://www.cecchigori.com/-- produces and distributes movies.  
At its peak, it produced a dozen films a year, including "Il
Postino" and "Life is Beautiful."  The group also operates
cinemas in Rome.

                        Financial Slide

Cecchi Gori's financial demise started mid-1990s when its
Telemontecarlo unit challenged state broadcaster RAI and
Mediaset, controlled by former Prime Minister Silvio Berlusconi.
The unit lost the network battle and was finally sold to Telecom
Italia.

The company's acquisition of the A.C. Fiorentina soccer club in
mid-1990s also dented the group's financial condition.  Mr.
Cecchi Gori was at one time accused of illegally transferring
money from A.C. Fiorentina to Finmavi, Cecchi Gori Group's
holding company, to prop up the group's weakening finances amid
corruption charges.  Cecchi Gori had sold A.C. Fiorentina.

Cecchi Gori's first knock on the bankruptcy door came in 2002,
when Merrill Lynch and other creditors sued the company for more
than EUR600 million in unpaid debt.


CHICAGO BOARD: Fitch Gives B+ Rating to Series 2016A ULTGO Bonds
----------------------------------------------------------------
Fitch Ratings has assigned a 'B+' rating to the following Chicago
Board of Education, IL's (the board) bonds:

-- $795.5 million unlimited tax general obligation (ULTGO) bonds
    series 2016A;

-- $79.5 million ULTGO bonds taxable series 2016B.

The bonds are scheduled to sell the week of Jan. 25, via
negotiation. Proceeds will finance various capital projects, swap
termination payments, reimbursements of reserves and short-term
lines of credit used to pay swap termination payments,
reimbursement of the general fund for prior capital advances, and
the fixed rate refunding of variable rate debt.

Fitch also downgrades to 'B+' from 'BB+' approximately $6.1 billion
of outstanding ULTGO bonds.

The Negative Watch is removed, and a Negative Rating Outlook is
assigned.

SECURITY

Most of the bonds are payable in the first instance from
unrestricted general state aid. All are general obligations,
payable from unlimited ad valorem taxes levied against all taxable
property in the city of Chicago.

KEY RATING DRIVERS

LACK OF MATERIAL PROGRESS: The downgrade reflects the limited
progress Chicago Public Schools (CPS) has made in addressing a
structural budget gap approximating 20% of spending for the current
fiscal year. Following substantial drawdowns in fiscal years
2013-2015, reserves will likely be fully depleted by the end of
fiscal 2017.

SEVERE OPERATING IMBALANCE: CPS has a relatively inflexible
expenditure profile and little to no independent ability to raise
revenues. Substantial changes are necessary to support ongoing
operating and fixed cost spending. Options within the board's
control are limited absent meaningful solutions with other parties,
which Fitch believes are unlikely in the near term.

WEAK LIQUIDITY: Fitch will be monitoring access to external
liquidity as internal cash and investments have been greatly
diminished, requiring increasing levels of short-term borrowing to
finance on-going operations.

PENSION LIABILITY WEAKNESS: Large pension liabilities were
exacerbated by a three-year payment deferral that caused a dramatic
jump in annual contributions beginning in fiscal 2014. Most options
for relief are dependent on actions by the state, which is plagued
by political disagreements and its own challenged financial
position.

POOR LABOR HISTORY: The last contract negotiation with the Chicago
Teacher's Union (CTU) was highly acrimonious and involved a strike.
Talks regarding a new agreement to replace the recently expired
contract have so far yielded no resolution and the CTU has
authorized another strike.

SOLID ECONOMIC FUNDAMENTALS: Chicago serves as the economic hub for
the Midwestern region of the United States with a highly educated
workforce and improving employment trends. The city, county and
state finances remain challenged, mainly due to a large long-term
liability burden.

UNFAVORABLE DEBT POSITION: The district's debt levels are above
average with very slow amortization. The current issue increases
debt levels and includes a debt restructuring which will further
exacerbate this challenge.

RATING BASED ON GO PLEDGE: The 'B+' rating relies upon the general
obligation, unlimited tax pledge which serves as the backup to the
primary pledge of unrestricted general state aid (GSA). Fitch
believes that the mechanics of the GSA pledge do not insulate
bondholders from the issuer's general credit.

RATING SENSITIVITIES

REVERSING STRUCTURAL IMBALANCE: A lack of progress towards
resolving CPS's large structural imbalance would put further
negative pressure on the rating.

MARKET ACCESS: Reliable market access is important to near-term
stability. Fitch will monitor the district's ability to access
external financing for both liquidity and capital purposes.

CREDIT PROFILE

CPS serves almost 400,000 students in 664 schools in school year
2014/2015 in a district that is coterminous with the city.
Enrollment trends are slowly declining.

LIMITED OPTIONS TO ADDRESS LARGE BUDGETARY GAPS

Fitch believes the size of the operating shortfalls in fiscal 2014
and 2015, and the magnitude of the gap in fiscal 2016 underscore
the difficulty of balancing fiscal operations. CPS recorded a $724
million (13%) net general fund operating deficit after transfers
for fiscal 2015, somewhat more positive than the $862 million
budgeted draw. The operating deficit is symptomatic of a chronic
structural imbalance which persists despite implementation of a
far-reaching and controversial school closure plan in 2013, an
increase in property tax revenues to the statutory cap, and sizable
reductions in non-education spending. The projected gap for fiscal
year 2017 is over $1 billion, or about 20% of spending, which would
wipe out remaining reserves and likely exhaust available lines of
credit.

The district ended fiscal 2015 with unrestricted reserves of about
$254 million (4.5% of spending) in the general fund. This follows a
drawdown in fiscal 2014 of $513 million (9.4% of spending).
Budgetary balance in recent prior years has relied largely on
non-recurring measures.

Management's efforts to reduce costs have yielded some savings and
included school closures as well as reductions in central office
and other administrative spending, while generally avoiding cuts to
classroom spending. The potential for additional savings in these
areas appears to be limited.

Furthermore, Fitch believes the 2012 CTU strike made apparent the
poor working relationship between the board and CTU. The agreement
reached in 2012 expired June 30, 2015. Prospects for achieving
savings from labor negotiations are dim, as a strike has already
been authorized by the CTU membership.

FISCAL 2016 BUDGET UNCERTAINTY

The fiscal 2016 budget closed the $1 billion gap with a mixture of
recurring and non-recurring elements. A $138 million appropriation
of reserves and $200 million of cuts have already been implemented
and the current issue includes $200 million of debt restructuring
budgetary relief. The budget also assumed $480 million of
additional pension support from the state, the receipt of which
appears speculative to Fitch given the current impasse at the state
level. CPS's pension payment is a large $675 million for fiscal
2016.

GAPS FOR FISCAL 2017 AND BEYOND WIDEN

CPS has identified a $1.1 billion budget gap for fiscal 2017, which
it proposes to be addressed with a mixture of increased funding
from the state, increased local funding, a new $170 million pension
levy (requires state legislative approval), and negotiated employee
benefit restructuring. If any of these are not realized, school
funding cuts would be implemented.

Other avenues for revenue enhancement are limited, although the
city has authorized a $45 million property tax levy for school
capital improvements which does not require state approval.

Management has requested a change in the state education funding
formula to increase state aid. A bill has been introduced to the
state legislature proposing a blue ribbon commission to examine
this issue, but Fitch does not expect resolution in the near term.


If structural solutions prove unattainable the district may
undertake another debt restructure and/or finance its pension
payment. Both would result in increased longer-term costs, and thus
would be considered a negative credit factor by Fitch.

LIQUIDITY CONCERNS

Even with significant spending cuts the district will be highly
dependent on short-term borrowing to maintain positive cash flow.
Liquidity has declined dramatically from $1.1 billion of cash at
the close of fiscal 2013 to $150 million at the end of fiscal 2015.
The decline was exaggerated by the use of cash to pay for capital
projects that are being reimbursed by the bonds now offered and the
acceleration of vendor payments that were partially reimbursed in
fiscal 2015.

Liquidity continues to deteriorate with negative cash balances for
much of fiscal 2016 absent outside support. The district plans to
use liquidity facilities for ongoing operations in fiscal 2016 and
likely beyond. Currently, the district has $935 million of
short-term debt outstanding, some of which (relating to payment of
swap terminations) may be partially repaid with the current
offering. Fitch will monitor the district's ability to access
external markets for both this short-term borrowing and planned
long-term borrowing.

PENSION LIABILITIES CONSISTENT WITH WEAK REGIONAL NORMS

A combination of lower-than-expected investment returns and payment
deferrals for the CTU plan granted by the state for fiscal years
2011-2013 have weakened the district's pension plan. As of the June
30, 2015 CAFR, plan assets represented 53.2% of liabilities. The
pension payment rose dramatically in fiscal 2014 to $613 million
versus $245 million in fiscal 2013, to bring payments up to the
level statutorily required to increase the CTU plan's funded ratio
to 90% by fiscal 2059. Fitch does not believe this is an aggressive
goal with respect to addressing the unfunded liability; however,
the district is still finding it difficult to incorporate this
increased payment into the budget. The fiscal 2016 contribution is
$675 million. Fitch is concerned not only about these plans but
other city, Cook County, and state of Illinois plans which are all
poorly funded and draw upon the same resource base.

Other post-employment benefits (OPEB) are similarly underfunded but
annual payments are statutorily capped at $65 million.

HIGH DEBT, SWAP TERMINATION TRIGGERED BY DOWNGRADE

The district's overall debt levels are high at 8.5% of market
value, with slow amortization of 31% in 10 years, the result of
long-dated debt and restructurings. The reduction in variable rate
debt to 13.5% (after the current transaction) from 40% in the last
several years is a positive credit development.

Downgrades last year resulted in termination events for eight of
the district's 10 swaps. All 10 swaps have been terminated. The
district drew upon reserves and short-term borrowing to fund the
termination payments. Importantly, the district is no longer
exposed to rating trigger risk.

Proceeds of the current issue will pay down approximately $176
million of short-term borrowing relating to prior swap terminations
and debt restructuring. Approximately $392.6 million of the current
issue will reimburse the general fund for prior capital
expenditures and fund future expenditures.

Carrying costs for debt service, OPEB and the full required pension
contribution were a moderate 18.8% of governmental spending in
fiscal 2015. Costs will likely stay relatively controlled due to
the slow amortization of the pension obligation, assuming the full
required contribution is paid each year.

ECONOMIC FUNDAMENTALS SOLID

Chicago ('BBB+', Negative Outlook) serves as the economic and
cultural hub for the Midwest region, and maintains good prospects
for long-term stability if not growth. The city has gained almost
50,000 jobs since 2010 primarily in professional and business
services despite reductions in both manufacturing and public
service. Chicago's population totaled 2.7 million in 2014, down 6%
from the 2000 census, but still accounts for 21% of the state's
population.

Socioeconomic indicators are mixed with elevated individual poverty
rates, average per capita income levels, but strong educational
attainment levels. As of November 2015, the city's unemployment
rate was 5.8%, consistent with the state, and down from 6.5% a year
earlier.



CITY OF STOCKTON, CA: Franklin Templeton Drops Ch. 9 Challenge
--------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Franklin
Templeton Investments said on Jan. 13, 2016, that it has dropped an
appeal challenging the city of Stockton, California's financial
restructuring plan, ending the final challenge to the city's
turnaround strategy four years after the municipality filed for
bankruptcy.

The investment firm said it decided against filing another appeal
after the Ninth Circuit's bankruptcy panel ruled against the
company last month.  The appeal, brought by two Franklin Templeton
funds, said the plan was unfair because it provided for a recovery
of less than 1% on $32.5 million.

                     About Stockton, Calif.

The City of Stockton, California, filed a Chapter 9 petition
(Bankr. E.D. Cal. Case No. 12-32118) in Sacramento on June 28,
2012, becoming the largest city to seek creditor protection in
U.S. history.  The city was forced to file for bankruptcy after
talks with bondholders and labor unions failed.  Stockton
estimated more than $1 billion in assets and in excess of
$500 million in liabilities.

The city, with a population of about 300,000, identified the
California Public Employees Retirement System as the largest
unsecured creditor with a claim of $147.5 million for unfunded
pension costs.  In second place is Wells Fargo Bank NA as trustee
for $124.3 million in pension obligation bonds.  The list of
largest creditors includes $119.2 million owing on four other
series of bonds.

The city is being represented by Marc A. Levinson, Esq., and John
W. Killeen, Esq., at Orrick, Herrington & Sutcliffe LLP.  The
petition was signed by Robert Deis, city manager.

Mr. Levinson also represented the city of Vallejo, Cal. in its
2008 bankruptcy.  Vallejo filed for protection under Chapter 9
(Bankr. E.D. Cal. Case No. 08-26813) on May 23, 2008, estimating
$500 million to $1 billion in assets and $100 million to $500
million in debts in its petition.  In August 2011, Vallejo was
given green light to exit the municipal reorganization.   The
Vallejo Chapter 9 plan restructures $50 million of publicly held
debt secured by leases on public buildings.  Although the Plan
doesn't affect pensions, it adjusts the claims and benefits of
current and former city employees.  Bankruptcy Judge Michael
McManus released Vallejo from bankruptcy on Nov. 1, 2011.

The bankruptcy judge on April 1, 2013, ruled that the city of
Stockton is eligible for municipal bankruptcy in Chapter 9.

Judge Klein, in late October 2014, confirmed the debt-adjustment
plan by the city of Stockton, rejecting arguments that it unfairly
discriminated among creditors by chopping a mutual fund's recovery
to near zero while shielding city retirees from any impairment at
all.

Stockton, California city manager Kurt Wilson said the city's First
Amended Plan of Adjustment, as Modified, became effective; and the
Company emerged from Chapter 9 protection, following the U.S.
Bankruptcy Court's confirmation of the plan on Feb. 4, 2015.

                       *     *     *

The Troubled Company Reporter, on Sep. 26, 2014, reported that
Moody's Investors Service has affirmed the long-term ratings of
the city of Stockton's (CA) water and sewer enterprises' debts at
Ba1. Moody's have also changed the outlook on the city's water
bond rating to developing from stable, while the developing
outlook on the sewer system's rating remains the same.

The TCR, on Nov. 10, 2014, reported that Moody's Investors Service
has upgraded to Ba3 from Caa3 the City of Stockton's (CA) series
2006 lease revenue bonds and affirmed the city's 2007 pension
obligation at Ca. Moody's have removed the developing outlook from
the Series 2006 bonds and Moody's have removed the negative
outlook from the Series 2007 bonds.

The TCR, on Nov. 14, 2014, reported that Standard & Poor's Ratings
Services raised its long-term rating and underlying rating (SPUR)
to 'B-' from 'CCC' on the Stockton Public Financing Authority,
Calif.'s series 2003A and 2003B certificates of participation
(COPs) and its SPUR to 'B-' from 'CCC' on the authority's series
2006A lease revenue refunding bonds.  Standard & Poor's also
affirmed its 'CC' SPUR on Stockton Redevelopment Agency's series
2004 (arena project) revenue bonds.  All series are appropriation
obligations of Stockton.  The outlook on the series 2003A and
2003B COP long-term rating and SPUR and on the 2006A lease revenue
refunding bond SPUR is stable, and the outlook on the series 2004
revenue bond rating (arena project) is negative.


CLEAN ENERGY: Raises Going Concern Doubt, Outlines Mgmt. Plans
--------------------------------------------------------------
Clean Energy Technologies, Inc., had a total stockholder's deficit
of $639,966 and a working capital deficit of $946,509 and a net
loss of $543,210 for the three months ended September 30, 2015 and
$725,083 for the nine months ended September 30, 2015.  The company
also had an accumulated deficit of $3,030,286 as of September 30,
2015 and used $1,094,202 in net cash from operating activities for
the nine months ended September 30, 2015.

"Therefore, there is substantial doubt about the ability of the
company to continue as a going concern," said Kambiz Mahdi, chief
executive officer, and John Bennett, chief financial officer of the
company in a regulatory filing with the U.S. Securities and
Exchange Commission dated November 23, 2015.  "There can be no
assurance that the company will achieve its goals and reach a
profitable operating stand and is still dependent upon its ability
(1) to obtain sufficient debt and/or equity capital and/or (2) to
generate positive cash flow from operations."

According to Messrs. Mahdi and Bennett, "Management is taking the
following steps to sustain profitability and growth: (i) organic
growth through our acquired HRS assets and servicing customers from
whom we generate profit and whom we believe can provide
opportunities for growth and scale,(ii) leveraging core
competencies with emphasis in cleantech, and (iii) expansion of
capabilities and competencies through mergers and acquisitions
providing scale, cost synergies and revenue and profit
opportunities.

"Our future success is likely dependent on our ability to sustain
profitable growth and attain additional capital to support growth.
There can be no assurance that we will be successful in obtaining
any such financing, or that it will be able to generate sufficient
positive cash flow from operations.  The successful outcome of
these or any future activities cannot be determined at this time
and there is no assurance that if achieved, we will have sufficient
funds to execute its business plans."

At September 30, 2015, the company had total assets of $2,949,592,
total liabilities of $3,589,558 and total stockholders' deficit of
$639,966.

For the three months ended September 30, 2015, the company incurred
a net loss of $543,210 as compared with a net loss of $92,968
during the same period in 2014.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/jz6zmfj

Costa Mesa, California-based Clean Energy Technologies, Inc.
formerly Probe Manufacturing, Inc. offers heat recovery products as
well as engineering and manufacturing solutions focused on other
energy efficiency and environmental sustainability technologies.
The company's primary product offering is the Clean Cycle heat
recovery solution or HRS.



CONGREGATION BIRCHOS: TD Bank Seeks Transparency Through MORs
-------------------------------------------------------------
TD Bank, N.A., filed a motion asking the U.S. Bankruptcy Court for
the Southern District of New York to compel Congregation Birchos
Yosef to file all missing and current Monthly Operating Reports by
February 12, 2016, and to continue doing so on a timely basis
thereafter.

According to TD Bank, "the hallmark of every bankruptcy case is
transparency -- the full, fair and timely disclosure of information
that affects the administration of the estate."  Unquestionably,
the Debtor has not done so in this case, complained TD Bank.
Furthermore, TD Bank said, the Debtor's bankruptcy case began in
February 2015, yet the Debtor's last disclosure of postpetition
information was in its July 2015 Monthly Operating Report, filed in
August 2015.  TD Bank complained that without any subsequent
reports being filed, there has been no transparency or disclosure
in the Debtor's operations and financial information.  TD Bank said
it is concerned and frustrated for the disclosures in these Monthly
Operating Reports also go towards whether the Debtor can propose a
confirmable competing plan of reorganization that is feasible.

TD Bank said the Debtor's estate is diminishing at the rate of
approximately $100,000 per month, due to accumulating interest on
real property taxes, claims owed to the IRS and the TD Bank claim,
along with other postpetition real-property taxes and fees due to
the United States Trustee.  All the while, the Debtor is not
providing creditors like TD Bank with any form of adequate
protection.  TD Bank asserted that the Debtor should be compelled
to provide further disclosures on the administration and the state
of its bankruptcy estate so that corresponding adequate protection
to TD Bank and other creditors can be assessed.

TD Bank is represented by:

         Joseph Lubertazzi, Jr.
         MCCARTER & ENGLISH, LLP
         Four Gateway Center
         100 Mulberry Street
         Newark, NJ 07102-4056
         Tel: 973-639-2082
         Fax: 973-297-3940
         E-mail: jlubertazzi@mccarter.com

            About Congregation Birchos Yosef

Congregation Birchos Yosef is a religious corporation which was
formed on Jan. 16, 1985 for the purposes of creating and
maintaining a "House of Worship" in accordance with the traditions
of the Hebrew faith and to serve and advance the affairs of the
surrounding community under the leadership of the Grand Rebbe of
Nikolsburg.  Its principal office is located at 201 Route 306,
Monsey, New York.  It has real properties located in Spring Valley
and Monsey, New York.

Congregation Birchos Yosef sought bankruptcy protection (Bankr.
S.D.N.Y. Case No. 15-22254) in White Plains, New York, on Feb. 26,
2015.  Breindy Lebovits, the vice-president, signed the petition.

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

On May 4, 2015, the Debtor won approval to hire (i) Pick & Zabicki
LLP as its counsel, (ii) Frances M. Caruso as its bookkeeper and
(iii) Montalbano, Condon & Frank, P.C. as special counsel for real
property tax-related matters.  On May 18, the Court authorized the
Debtor's retention of Levine & Associates, PC as special litigation
counsel.  On Sept. 11, 2015, the Court approved the retention of
The Law Offices of David Carlebach, Esq. as the Debtor's
substituted bankruptcy counsel.  On Nov. 11, 2015, the Debtor filed
a stipulation of substitution of counsel, reflecting that The Law
Offices of Allen A. Kolber, Esq. will serve as the Debtor's
substituted bankruptcy counsel.
                                       
                                            *     *     *

The Debtor's "exclusivity period" under Section 1121 of the
Bankruptcy Code expired June 26, 2015.

On Aug. 24, 2015, the Court entered a memorandum of decision in
support of its order granting the Debtor's motion to enforce the
automatic stay against Bais Chinuch L'Bonois, Inc. and certain
individuals.  This order is being appealed.

TD Bank, N.A., scheduled a Jan. 6, 2016 hearing to seek
confirmation of its proposed Chapter 11 plan for the Debtor.


CRP-2 HOLDINGS: Has Until Jan. 31 to Use Cash Collateral
--------------------------------------------------------
The Hon. Donald R. Cassling of the U.S. Bankruptcy Court for the
Northern District of Illinois issued a third interim order
authorizing CRP-2 Holdings AA, L.P., to continue to use the cash
collateral securing its prepetition indebtedness until Jan. 31,
2016.

As adequate protection from any diminution in value of the lenders'
collateral, the Debtor will grant U.S. Bank National Association,
in its capacity as trustee for the registered holders of J.P.
Morgan Commercial Mortgage Securities Trust 2006-LDP9, Commercial
mortgage pass through certificates series 2206-LDP9, acting by and
through CWCapital Asset Management LLC solely in its capacity as
special services, replacement liens on all of the Debtor's assets,
a superpriority administrative claims status and payment of
$660,000 monthly adequate protection.

                       About CRP-2 Holdings

CRP-2 Holdings AA, L.P., a Delaware limited partnership that was
formed in May 2006 for the primary purpose of acquiring and
managing real property.  CRP-2 is controlled by Colony Realty
Partners GP II, LLC.  Between May and October of 2006, CRP-2
acquired 14 properties for a total purchase price of $286,732,400,
financing approximately 60% of the purchase price with proceeds
from a $171 million secured credit facility with JPMorgan Chase
Bank.  The Debtor at present owns 10 properties consisting of six
office buildings and 26 industrial buildings located in and around
Chicago, Washington D.C., Boston and New Jersey.

CRP-2 Holdings filed a Chapter 11 bankruptcy petition (Bankr. N.D.
Ill. Case No. 15-24683) on July 21, 2015.  Judge Donald R. Cassling
is assigned to the case.

The Debtor disclosed total assets of $171,349,208 and total
liabilities of $166,637,095.

The Debtor tapped FrankGecker LLP as counsel.

The official committee of unsecured creditors tapped Sugar
Felsenthal Grais & Hammer LLP as substitute counsel effective as
of
Sept. 21, 2015.


DALLAS PROTON: Hearing on Case Conversion Continued to Feb. 1
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of Texas
approved an agreement continuing until Feb. 1, 2016, at 9:30 a.m.,
the hearing on:

   (i) motion of Kelcy Warren and Dallas Proton, LLC, to convert
the Chapter 11 cases of Dallas Proton Treatment Center, LLC, et
al., or, alternatively, to appoint a Chapter 11 trustee; and

  (ii) motion of Dallas Proton, LLC, for relief from the automatic
stay.

The agreement was entered into by the Debtors, Kelcy Warren and
Dallas Proton, and the Official Committee of Unsecured Creditors.
The hearing on the motion was set for Dec. 1, 2015.  All parties do
not oppose to the continuance of the hearing.

As reported by the Troubled Company Reporter on Dec. 2, 2015, the
Debtors objected to the motion filed Kelcy Warren and Dallas
Proton, LLC, asking the Court to convert the Debtors' cases or,
alternatively, to appoint chapter 11 trustee.

According to the Debtors, Mr. Warren has manufactured his
allegations in an attempt to bully the Debtors and extort value.
It is in the best interest of the creditors for the Court to give
the Debtors an opportunity to confirm a chapter 11 plan within a
reasonable period of time, the Debtors assert.

The Debtors further assert that they have income.  The Debtors have
a business, which is the same business into which Mr. Warren
loaned, the Debtors say.

Lulu Limited also objected to the motion, stating that it is
premature to convert the cases to liquidations under chapter 7.
The Debtors must be provided an opportunity to raise the capital
required for a successful reorganization.  Lulu says it has seen no
evidence of fraud perpetrated by the Debtors or their management as
alleged by Mr. Warren in his motion.

Kelcy Warren and Dallas Proton, LLC are represented by:

         Jason P. Kathman, Esq.
         Kevin M. Lippman, Esq.
         Davor Rukavina, Esq.
         MUNSCH HARDT KOPF & HARR, P.C.
         3800 Ross Tower
         500 N. Akard Street
         Dallas, TX 75201
         Tel: (214) 855-7500
         Fax: (214) 978-5359

The Committee is represented by:

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

The Debtors are represented by

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

             About Dallas Proton Treatment Center, LLC

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


DEWEY & LEBOEUF: Former Chairman Strikes Deal to Avoid 2nd Trial
----------------------------------------------------------------
Erik Larson, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that the former chairman of defunct Manhattan law firm
Dewey & LeBoeuf LLP struck a deal with the government to avoid a
second prosecution after the fraud case against him ended in
mistrial.

According to the report, Steven Davis, who was accused of
manipulating financial statements for years to hide the firm's
rising debt and falling revenue, didn't admit to any wrongdoing
under a so-called deferred prosecution agreement reached on Jan. 15
with Manhattan District Attorney Cyrus Vance Jr.

Under the agreement, Davis will be barred from practicing law in
New York or acting as an officer of a publicly traded company for
five years, the report related.  He's required to appear in court
next January to assess his compliance, the report further related.
New York Supreme Court Judge Robert Stolz in Manhattan approved the
deal, the report cited Joan Vollero, a spokeswoman for Vance.

                      About Dewey & LeBoeuf

Dewey & LeBoeuf LLP sought Chapter 11 bankruptcy (Bankr. S.D.N.Y.
Case No. 12-12321) to complete the wind-down of its operations.
The firm had struggled with high debt and partner defections.
Dewey disclosed debt of $245 million and assets of $193 million in
its chapter 11 filing late evening on May 29, 2012.

Dewey & LeBoeuf LLP operated as a prestigious, New York City-
based, law firm that traced its roots to the 2007 merger of Dewey
Ballantine LLP -- originally founded in 1909 as Root, Clark & Bird
-- and LeBoeuf, Lamb, Green & MacCrae LLP -- originally founded in
1929.  In recent years, more than 1,400 lawyers worked at the firm
in numerous domestic and foreign offices.

At its peak, Dewey employed about 2,000 people with 1,300 lawyers
in 25 offices across the globe.  When it filed for bankruptcy,
only 150 employees were left to complete the wind-down of the
business.

Dewey's offices in Hong Kong and Beijing are being wound down.
The partners of the separate partnership in England are in process
of winding down the business in London and Paris, and
administration proceedings in England were commenced May 28.  All
lawyers in the Madrid and Brussels offices have departed.  Nearly
all of the lawyers and staff of the Frankfurt office have
departed, and the remaining personnel are preparing for the
closure.  The firm's office in Sao Paulo, Brazil, is being
prepared for closure and the liquidation of the firm's local
affiliate.  The partners of the firm in the Johannesburg office,
South Africa, are planning to wind down the practice.

The firm's ownership interest in its practice in Warsaw, Poland,
was sold to the firm of Greenberg Traurig PA on May 11 for
$6 million.  The Pension Benefit Guaranty Corp. took $2 million of
the proceeds as part of a settlement.

Judge Martin Glenn oversees the case.  Albert Togut, Esq., at
Togut, Segal & Segal LLP, represents the Debtor.  Epiq Bankruptcy
Solutions LLC serves as claims and notice agent.  The petition was
signed by Jonathan A. Mitchell, chief restructuring officer.

JPMorgan Chase Bank, N.A., as Revolver Agent on behalf of the
lenders under the Revolver Agreement, hired Kramer Levin Naftalis
& Frankel LLP.  JPMorgan, as Collateral Agent for the Revolver
Lenders and the Noteholders, hired FTI Consulting and Gulf
Atlantic Capital, as financial advisors.  The Noteholders hired
Bingham McCutchen LLP as counsel.

The U.S. Trustee formed two committees -- one to represent
unsecured creditors and the second to represent former Dewey
partners.  The creditors committee hired Brown Rudnick LLP led by
Edward S. Weisfelner, Esq., as counsel.  The Former Partners hired
Tracy L. Klestadt, Esq., and Sean C. Southard, Esq., at Klestadt &
Winters, LLP, as counsel.

FTI Consulting, Inc. was appointed secured lender trustee for the
Secured Lender Trust.  Alan Jacobs of AMJ Advisors LLC, was named
Dewey's liquidation trustee.  Scott E. Ratner, Esq., Frank A.
Oswald, Esq., David A. Paul, Esq., Steven S. Flores, Esq., at
Togut, Segal & Segal LLP, serve as counsel to the Liquidation
Trustee.

Dewey's liquidating Chapter 11 plan was approved by the bankruptcy
court in February 2013 and implemented in March.  The plan created
a trust to collect and distribute remaining assets.  The firm
estimated that midpoint recoveries for secured and unsecured
creditors under the plan would be 58.4 percent and 9.1 percent,
respectively.


DOMINION CITRUS: TSX Opts to Delist Series A Preference Shares
--------------------------------------------------------------
Dominion Citrus Limited was advised on Jan. 18, 2016 by a letter
from the Toronto Stock Exchange that the Continued Listings
Committee of the TSX has determined to delist the Series A
preference shares of DCL effective February 18, 2016 for failure by
DCL to meet the continued listing requirements of the TSX.  Trading
in the Series A preference shares was suspended immediately and is
expected to remain suspended until the Delisting Date.

DCL had announced on December 18, 2015 that the TSX was reviewing
the eligibility for continued listing on the TSX of the Series A
preference shares under the Remedial Review Process of the TSX.
Following a hearing held by the Continued Listings Committee on
January 14, 2016 at which DCL was represented, the TSX identified
the financial condition, working capital and capital structure of
DCL and the market value of the Series A preference shares for the
30 previous consecutive trading days as the reasons for the
delisting decision.

The TSX also requested DCL to clarify its December 10, 2015 press
release in which DCL and its parent, Dominion Citrus Income Fund,
reported that, subject to certain assumptions and restrictions of
scope, Klein Farber Corporate Finance Inc. estimated "the
enterprise value of DCL, before outstanding debt, to be in a range
between $10.3 million and $13.5 million.  In calculating the fair
market value of equity of DCL, this range was adjusted for
outstanding debt of approximately $24 million.  As DCL is a limited
liability corporation, equity value for practical purposes cannot
be negative.  Accordingly, Klein Farber estimated that the equity
would have some option value, though negligible."  The TSX
requested DCL to clarify that the equity of DCL, for such purposes,
includes both its common shares and the Series A Preference
Shares.

Management is considering various options, taking into
consideration the non-binding offer which has been accepted by the
Fund for the sale of its assets, including the common shares of
DCL, the Participating Notes issued by DCL and held by the Fund and
the option held by the Fund to acquire Dominion Farm Produce
Limited from DCL, for an aggregate purchase price of $10,805,070.
The Series A preference shares are not subject to the offer and
their position will not be affected by the proposed sale, if it is
completed.

                    About Dominion Citrus

DCL -- http://www.dominioncitrus.com/-- is a diversified food
company supplying fresh produce to a wide variety of customers in
retail, foodservice and food distribution businesses.  DCL provides
procurement, processing, repacking, sorting, grading, warehousing
and distribution services to its major domestic markets being
Ontario and Quebec.  Dominion also supplies products to customers
in the United States.

The Fund is a publicly traded, unincorporated, open-ended limited
purpose income trust.  On January 1, 2006, all of the common shares
of DCL were exchanged for trust units of the Fund.  The trust units
are listed on the TSX under the symbol DOM.UN.


DPS INC: VER Acquires Business, Retains Key Employees
-----------------------------------------------------
VER, a global provider of production equipment and engineering
support, on Jan. 19 disclosed that it has acquired the business of
DPS Inc., a production services company.  In a sale ordered by the
bankruptcy court, VER acquired more than half of the company's
lighting and film equipment, nearly all of its audio, video, and
rigging equipment, its 70,000-square-foot facility near Burbank, CA
and retained nearly half of the company's employees.

VER is already consolidating its rapidly growing,
industry-recognized lighting division at DPS's former location.
The new VER "Light Lab" is being expanded to create the most
significant facility in Southern California, enabling clients to
design, test, and prep systems in real time, supported by the VER
engineering team, enabling even more creative solutions and a
streamlined programming and design process.

VER will invest further to enhance the already unique facility,
which includes a 60' wide by 62' deep hanging structure that can
support up to 144,000 lbs. of gear so lighting designers and
technicians can easily and accurately prep a full lighting system.
"Our current pre-viz suite is often double booked so this new
facility will include multiple full service, off-line programming
suites offering pre-viz services and modeling.  Combined with the
grid, capable of a 33' trim, this facility will meet all of our
clients' needs," notes Susan Tesh, executive director of VER
lighting.

Steve Hankin, CEO of VER commented, "DPS had a superb team and a
reputation for quality service and equipment.  We're happy to be
able to bring the team and equipment into the broader VER
organization so they can continue to serve their clients, and
support VER clients, in their signature high quality manner."

Paul Kobelja, former DPS VP of Cinema, Bobby Finley III, former VP
of DPS Cinema Tech, and Loren Esposito, have joined the VER TV and
cinema production team under the leadership of Fred Waldman.
Kobelja, Finley and Esposito are highly regarded in the
entertainment industry and join a team that is widely recognized
for providing the most creative technical solutions to TV and
cinema professionals.  "Over the years these three cinema
professionals have developed a specialty in the integration of
media technology for filmed entertainment. This combined team of
experts will no doubt lead the industry in servicing TV and cinema
clients," said Mr. Waldman.

Also, Rob Kurtz, former VP of DPS Worship, has joined VER in
Nashville to support the lighting team in addition to continuing to
service the worship market segment.  John Lee is part of the VER
tour video team, led by Keith Harrison, executive director of
LED/Display and video, and continues to focus on providing video
and lighting to his important tour clients.

                            About VER

VER is a global provider of production equipment and engineering
support.  With the world's largest inventory of rental equipment,
VER supplies the most advanced technology to a broad array of
clients in the corporate, TV, cinema, live events and broadcast
markets.  Clients rely on VER's depth of experience in Broadcast,
Audio, Video, Lighting, LED, Cameras, Rigging, Media Servers, Fiber
and more.  With 32 offices across North America and Europe, 24/7
support, and unparalleled expertise, VER can support any live or
taped production anywhere in the world.


ECLIPSE RESOURCES: Moody's Lowers CFR to Caa2, Outlook Negative
---------------------------------------------------------------
Moody's Investors Service downgraded Eclipse Resources
Corporation's Corporate Family Rating to Caa2 from B3, Probability
of Default Rating (PDR) to Caa2-PD from B3-PD, and senior unsecured
notes rating to Caa2 from Caa1.  At the same time, Moody's affirmed
Eclipse's Speculative Grade Liquidity Rating at SGL-3.  The rating
outlook was changed to negative from stable.

"The downgrade reflects Moody's expectation that low natural gas
prices and significant production curtailments will drive down
Eclipse's cash flow such that it may not cover interest expense,"
noted John Thieroff, Moody's VP -- Senior Analyst.  "Eclipse's high
leverage and interest burden call into question the sustainability
of its capital structure and whether or not it will need to
restructure in the near term, given our expectation for low oil and
gas prices through 2018."

Issuer: Eclipse Resources Corp.

Ratings Downgraded:

  Corporate Family Rating -- Caa2 from B3
  Probability of Default Rating -- Caa2-PD from B3-PD
  Senior Unsecured Rating -- Caa2 (LGD4) from Caa1 (LGD4)

Outlook: Negative

Ratings Affirmed:

  Speculative Grade Liquidity Rating, affirmed at SGL-3

RATINGS RATIONALE

The Caa2 CFR reflects Eclipse's high leverage and interest burden,
small scale, concentrated production in the Utica and Marcellus
Shale plays, and significant exposure to natural gas (~68%).
Eclipse's rating also suffers from its weak cash margins and
leveraged full-cycle ratio caused by its exposure to low natural
gas prices.  The company's rating is further constrained by its
decision to cut capital spending sharply in 2016 which, while
necessary to preserve liquidity during an extended commodity price
downturn, when combined with production curtailments will lead to
materially reduced production and cash flow in 2016.  Support for
the rating is provided by natural gas price hedges on more than 80%
of expected 2016 production at an average gas price above $3 per
mcf and Eclipse's significant balance sheet cash.

The SGL-3 Speculative Grade Liquidity Rating reflects our
expectation that Eclipse should maintain adequate liquidity through
2016.  At Dec. 31, 2015, the company had $184 million in cash on
its balance sheet and $97 million of availability under its secured
revolving credit facility, which matures in 2018. Eclipse's
borrowing base under its revolver is $125 million and will next be
redetermined in April 2016.  The credit facility's EBITDAX/Interest
covenant requires 1.5x coverage through the first three quarters of
2016 and then increases to 2.25x.  Based on Moody's projections,
compliance in Q4 2016 is unlikely.  Given Moody's expectation of a
significant cash cushion at year-end 2016, Eclipse would still be
viewed as having adequate liquidity if it were unable to access its
revolver for a short period of time.  Other than the revolver,
Eclipse's only debt maturity is its senior unsecured notes in
2023.

The negative outlook reflects the company's dim prospects to
sustain itself through 2017 as capitalized, given weak oil and
natural gas prices, reduced production levels and very limited
commodity price hedging after 2016.  The rating could be downgraded
if the company's liquidity falls below $50 million. Although
unlikely in 2016, the rating could be upgraded if the company
maintains retained cash flow-to-debt above 10% on a sustained
basis.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

Eclipse Resources Corporation is a publicly traded oil and gas
exploration and production company headquartered in State College,
PA that operates in the Marcellus and Utica Shales of the
Appalachian Basin.



ELBIT IMAGING: Fails to Complete Chennai India Transaction
----------------------------------------------------------
Elbit Imaging Ltd. disclosed that further to its press release
dated on Sept. 16, 2015, in which the Company announced that its
subsidiary, Elbit Plaza India Real Estate Holdings Limited, has
obtained a backstop commitment for the sale of Chennai, India
Scheme, the Sale Transaction, which was due to be completed by Jan.
15, 2016, has not completed.

In line with the Sale Transaction agreement, since the local Indian
partner failed to complete the transaction by the Long Stop Date,
EPI will exercise its right to get the Partner's 20% holdings in
the Indian company, Kadavanthara Builders Private Limited.

                          About Elbit Imaging

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

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

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

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


ELBIT IMAGING: Signs Agreement to Sell Project in Kochi, India
--------------------------------------------------------------
Elbit Imaging Ltd. announced that the Company has signed an
agreement to waive any of its rights and interest in a special
purpose vehicle which holds a land plot in Kochi, India.  The total
consideration for the Company is INR 10 Crores (approximately
EUR1.4 million), which will be paid to the Company upon the closing
of the transaction.

The transaction is subject to certain conditions precedent, and
closing will take place once these conditions are met and no later
than Oct. 15, 2016.  The local Investor has provided certain
security in order to guarantee the aforementioned deadline.

                          About Elbit Imaging

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

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

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

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


ENERGY FUTURE: Texas Regulator Urged to Reject Oncor Sale
---------------------------------------------------------
Harry R. Weber, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that energy regulators in Texas were urged to
oppose the sale of the biggest power transmission company in the
state, the cornerstone of a plan to allow Energy Future Holdings
Corp. to emerge from bankruptcy.

According to the report, Oncor Electric Delivery Co.'s proposed
sale to Hunt Consolidated Inc. and a group of bondholders should be
denied because it may raise costs for consumers and weaken the
company financially, according to Sam Chang, an attorney for the
Public Utility Commission of Texas.

The questions reflect the difficulty a power company in bankruptcy
has in offloading a valuable asset in a state like Texas, which
consumes more electricity than any other state and wants to
maintain cheap prices, the report related.  While parent Energy
Future Holdings has been working to restructure its debts in
Chapter 11, Oncor is in good financial health and not directly
involved in those proceedings, the report pointed out.

The transaction would result in "unjust and unreasonable rates" and
raise the risk the new owners may run short of liquidity during
tough times, Chang told a public hearing that's expected to last
for several days, the report further related.

                       About Energy Future

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

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

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

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

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

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

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

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

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

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


FANNIE MAE: Two Directors Appointed to Board
--------------------------------------------
Hugh R. Frater and Renee L. Glover were elected to the Board of
Directors of Fannie Mae (formally, the Federal National Mortgage
Association) on Jan. 13, 2016.  The Board committees on which Mr.
Frater and Ms. Glover will serve have not been determined.

Mr. Frater, age 60, serves as non-executive chairman of the Board
of VEREIT, Inc. and as a director of ABR Reinsurance Capital
Holdings Ltd.  Mr. Frater previously worked at Berkadia Commercial
Mortgage LLC, a commercial real estate company providing
comprehensive capital solutions and investment sales advisory and
research services for multifamily and commercial properties.  He
served as Chairman of Berkadia from April 2014 to December 2015 and
he served as chief executive officer of Berkadia from August 2010
to April 2014.  From November 2007 to June 2010, Mr. Frater was the
chief operating officer of Good Energies, Inc., and from February
2004 to May 2007, Mr. Frater was an executive vice president at PNC
Financial Services, where he led the real estate division.  Mr.
Frater was a founding partner and managing director of BlackRock,
Inc. from August 1988 to February 2004, where he led the real
estate practice.  Mr. Frater serves on the Real Estate Advisory
Board at the Columbia University Graduate School of Business and is
also a member of its Board of Overseers.

Ms. Glover, age 66, is the founder and managing member of The
Catalyst Group, LLC, a national consulting firm focused on urban
revitalization, real estate development and community building,
urban policy, and business transformation.  Ms. Glover is currently
a member of the Board of Directors of Enterprise Community
Partners, Inc.  Ms. Glover served on the Board of Directors of
Habitat for Humanity International from November 2006 to November
2015, including serving as Chair of the Board of Directors from
November 2013 to November 2015.  Committees on which she served
during her time as a member of the Board of Directors of Habitat
for Humanity International included the Audit Committee, Finance
Committee, Operations Committee and Executive Committee.  Ms.
Glover served as a member of the Board of Directors of the Federal
Reserve Bank of Atlanta from January 2009 to December 2014, where
she served on the Audit and Operational Risk Committee.  She also
served as a Commissioner of the Bipartisan Policy Center Housing
Commission from October 2011 to September 2014.  The Commission was
responsible for coming up with a set of bipartisan recommendations
concerning federal housing policy and housing finance.  Ms. Glover
served as president and chief executive officer of the Atlanta
Housing Authority and its affiliates from September 1994 to
September 2013.  She also served as a consultant for the Atlanta
Housing Authority from September 2013 to November 2013 to
facilitate the transition of leadership upon her retirement.  Prior
to joining the Atlanta Housing Authority, Ms. Glover was a
corporate finance attorney in Atlanta and New York.  Ms. Glover
serves on the Board of Advisors of the University of Pennsylvania's
Institute of Urban Research.

In accordance with Fannie Mae's non-management director
compensation practices, Mr. Frater and Ms. Glover each will be paid
a cash retainer at a rate of $160,000 per year for serving as a
Board member.  In accordance with its customary practice, Fannie
Mae is entering into an indemnification agreement with each of Mr.
Frater and Ms. Glover.

                       About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9 percent of its
common stock, and Treasury has made a commitment under a senior
preferred stock purchase agreement to provide Fannie with funds
under specified conditions to maintain a positive net worth.

Fannie Mae reported net income of $84.0 billion on $118 billion of
total interest income for the year ended Dec. 31, 2013, as compared
with net income of $17.2 billion on $129 billion
of total interest income for the year ended Dec. 31, 2012.

As of Sept. 30, 2015, the Company had $3.23 trillion in total
assets, $3.22 trillion in total liabilities and $4 billion in total
equity.

                        About Freddie Mac

Based in McLean, Virginia, the Federal Home Loan Mortgage
Corporation, known as Freddie Mac (OTCBB: FMCC) --
http://www.FreddieMac.com/-- was established by Congress in       

1970 to provide liquidity, stability and affordability to the
nation's residential mortgage markets.  Freddie Mac supports
communities across the nation by providing mortgage capital to
lenders.  Over the years, Freddie Mac has made home possible for
one in six homebuyers and more than five million renters.

Freddie Mac is under conservatorship and is dependent upon the
continued support of Treasury and the Federal Housing Finance
Agency acting as conservator to continue operating its
business.


FOREST PARK SOUTHLAKE: Voluntary Chapter 11 Case Summary
--------------------------------------------------------
Debtor: Forest Park Medical Center at Southlake, LLC
            aka Forest Park Medical Center Southlake
            aka Forest Park Southlake
            aka FPMC Southlake
        421 East State Hwy. 114
        Southlake, TX 76092

Case No.: 16-40273

Type of Business: Health Care

Chapter 11 Petition Date: January 19, 2016

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

Judge: Hon. Russell F. Nelms

Debtor's Counsel: Stephen M. Pezanosky, Esq.
                  HAYNES AND BOONE, LLP
                  2323 Victory Avenue, Suite 700
                  Dallas, TX 75219
                  Tel: (214) 651-5000
                  Fax: (214) 651-5940
                  Email: stephen.pezanosky@haynesboone.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

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

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


FORTY ACRE: Louisiana Court Remands Suit Against Randall Alfred
---------------------------------------------------------------
In a legal malpractice action, Plaintiffs/Appellants, Michael A.
LeBlanc, Mary Kaye LeBlanc, and Forty Acre Corporation appeal a
judgment entered by the Thirty-Second Judicial District Court,
sustaining peremptory exceptions of no cause of action and no right
of action, dismissing plaintiffs-appellants' claims with prejudice,
and the denying plaintiffs-appellants' motion for leave to file
amended pleadings.

The LeBlancs assert three assignments of error:

   (1) The trial court erred by sustaining defendants-appellees,
Randall M. Alfred and Randall M. Alfred, APLC's (Alfred) peremptory
exception of no cause of action, because the LeBlancs' allegations,
taken as true and in the light most favorable to the LeBlancs,
substantiate their cause of action sounding in legal malpractice
against Alfred.

   (2) The trial court erred by sustaining Alfred's peremptory
exception of no right of action, because the LeBlancs' allegations,
taken as true and in the light most favorable to the LeBlancs,
together with record evidence, substantiate their individual rights
of action sounding in legal malpractice against Alfred.

   (3) The trial court erred by denying the LeBlancs' motion for
leave to file a second amended petition, because, pursuant to La.
C.C.P. art. 934, they must be allowed to amend their petition
because the grounds for the exception can be removed.

In a Judgment dated December 17, 2015, which is available at
http://is.gd/XjWUAFfrom Leagle.com, the Court of Appeals of
Louisiana, First Circuit, held that:

   (1) The November 16, 2014 judgment of the Thirty-Second Judicial
District Court is amended, affirmed as amended, and remanded with
instructions.

   (2) The judgment granting the peremptory exception of no right
of action is affirmed insofar as it dismisses, with prejudice, any
legal malpractice claims asserted by the LeBlancs in their capacity
as officers of Forty Acre. However, the judgment granting the
peremptory exception of no right of action is vacated insofar as it
concerns the legal malpractice claims asserted by the LeBlancs in
their individual capacity.

   (3) The judgment granting the peremptory exception of no cause
of action is affirmed insofar as it dismisses the LeBlancs'
individual claims against Alfred; however, the judgment granting
the exception of no cause of action is amended to make the
dismissal of the LeBlancs' individual claims without prejudice.

   (4) Remanded this matter to the trial court, and the trial court
is ordered to allow plaintiffs, Michael A. LeBlanc and Mary Kaye
LeBlanc, an appropriate delay to amend their petition solely to set
forth material factual allegations necessary to state an individual
cause of action against defendants, Randall M. Alfred and/or
Randall M. Alfred, APLC.

The case is MICHAEL A. LEBLANC, MARY KAYE LEBLANC, AND FORTY ACRE
CORPORATION v. RANDALL M. ALFRED AND RANDALL M. ALFRED, APLC, No.
2015 CA 0397.

Plaintiffs/Appellants, Michael A. LeBlanc, Mary Kaye LeBlanc, and
Forty Acre Corporation are represented by:

         Scott David Webre, Esq.
         WEBRE & ASSOCIATES
         2901 Johnston St., Suite 307
         Lafayette, LA 70503
         Phone: (337)237-051
         Fax: (337)¬237-5061

Defendants are represented by William Everard Wright, Jr., Esq. --
wwright@dkslaw.com -- DEUTSCH, KERRIGAN & STILES, LLP & Charlotte
Collins Meade, Esq. -- cmeade@dkslaw.com -- DEUTSCH, KERRIGAN &
STILES, LLP.

                         About Forty Acre

Forty Acre Corporation, based in Houma, Louisiana, filed for
Chapter 11 bankruptcy (Bankr. E.D. La. Case No. 11-10074) on Jan.
January 11, 2011.  Bankruptcy Judge Elizabeth W. Magner presides
over the case.  Randall M. Alfred, Esq. -- rmaaplc@bellsouth.net -
- served as the Debtor's counsel.  In its petition, Forty Acre
estimated $1 million to $10 million in both assets and
liabilities.  The petition was signed by Mike LeBlanc, president.

The order confirming Forty Acre's plan directed the Debtor to
transfer certain assets, including the Terrebonne Parish land and
Forty Acre's causes of action, to The Forty Acre Corporation Plan
Trust.


FREEDOM COMMUNICATIONS: 'Challenge' Period Extended to Jan. 25
--------------------------------------------------------------
A bankruptcy judge approved an agreement between Silver Point
Finance LLC and Freedom Communications Inc.'s official committee of
unsecured creditors to extend the so-called "challenge period."  

The order, issued by Judge Mark Wallace of the U.S. Bankruptcy
Court for the Central District of California, extended the
challenge period for the committee to January 25.

The challenge period expired on January 11.

                   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.


GEORGETOWN MOBILE: U.S. Bank Withdraws Bid for Case Dismissal
-------------------------------------------------------------
Brian R. Pollock, Esq., at Stites & Harbison, PLLC, counsel for the
U.S. Bank National Association, as trustee, notified the U.S.
Bankruptcy Court for the Eastern District of Kentucky that he has
withdrawn the Bank's motion to dismiss the Chapter 11 case of
Georgetown Mobile Estates, LLC.

Mr. Pollock said that the noteholder's motion is withdrawn based on
the Court's confirmation of the Debtor's Plan of Reorganization.

Mr. Pollock can be reached at:

         Brian R. Pollock, Esq.
         STITES & HARBISON, PLLC
         400 West Market Street, Suite 1800
         Louisville, KY 40202
         Tel: (502) 587-3400
         E-mail: bpollock@stites.com

         Greg Cross, Esq.
         VENABLE, LLP
         750 E. Pratt Street, Suite 900
         Baltimore, MD 21202
         Tel: (410) 244-7725

                 About Georgetown Mobile Estates

Georgetown Mobile Estates, LLC, is a Kentucky corporation with
headquarters in Georgetown, Scott County, Kentucky.  Originally
incorporated on Jan. 23, 2006, the Company operates a mobile home
park in three areas on the county line of Scott and Fayette,
Kentucky.  The park can take up to 504 customers and,
historically, had an occupancy rate of 92%.

Georgetown Mobile Estates filed a Chapter 11 bankruptcy petition
(Bankr. E.D. Ky. Case No. 15-50945) in Lexington, Kentucky, on May
11, 2015, to take back control of the mobile home park from a
receiver.  Daniel E. Sexton, the present owner, signed the
petition.

The bankruptcy case is assigned to Judge Tracey N. Wise.  The
Debtor estimated $10 million to $50 million in assets and debt.

The Debtor tapped Bunch & Brock of Lexington, Kentucky, as counsel;
Randy Reynolds of Magnum Capital Consultants, LLC, as financial
advisor; Bradford Burgess of The Thayer Group as financial advisor;
and Glen DellaValle of DellaValle Management Group as manager of
business operations.

The U.S. trustee overseeing the Chapter 11 case of Georgetown
Mobile Estates LLC appointed three creditors of the company to
serve on the official committee of unsecured creditors.

The Troubled Company Reporter, on Jan. 6, 2016, reported that Judge
Tracey N. Wise signed an agreed order confirming Georgetown Mobile
Estates, LLC's Fourth Amended Plan of Reorganization.

The judge on Sept. 3, 2015, entered an order approving the Second
Modified Disclosure Statement and set an Oct. 8 hearing on the
Plan.  The Debtor filed their Fourth Amended Plan on Oct. 16,
2015.
According to the Oct. 20, 2015 ballot report, holders of secured
claims in Classes 1 and 2, and taxing claims in Class 3 and
unsecured claims in Class 4 accepted the Plan.  The Court held a
confirmation hearing on the Plan on Oct. 21, 2015.  Judge Wise
signed the agreed order confirming the Plan on Oct. 22.


GEORGETOWN MOBILE: U.S. Trustee Withdraws Bid for Case Conversion
-----------------------------------------------------------------
Samuel K. Crocker, the U.S. Trustee for Region 8, notified the U.S.
Bankruptcy Court for the Eastern District of Kentucky that he has
withdrawn his motion to convert the Chapter 11 case of Georgetown
Mobile Estates, LLC, to one under Chapter 7 of the Bankruptcy
Code.

The U.S. Trustee said that the withdrawal of his motion was based
on the Court's oral confirmation of the Debtors Plan of
Reorganization.

The U.S. Trustee, in its motion, argued that Daniel Sexton, the
sole member of Star Lite Development, LLC and Georgetown Mobile
Estates East, LLC, the owner of the Debtor, has no ability to
reorganize and effectively manage the Debtor, and he should not be
entrusted with its liquid assets.  The only real hope for recovery
to all creditors lies with an independent fiduciary.

Creditors Theresa Kerr and Kevin Balcirak had expressed support for
the U.S. Trustee's motion.

Creditors are represented by:

         Carroll M. Redford, III, Esq.
         MILLER, GRIFFIN & MARKS, P.S.C.
         Suite 600, 271 West Short Street
         Lexington, KY 40507
         Tel: (859) 255-6676

The Trustee is represented by:

         Rachelle C. Dodson, Trial Attorney
         Office of the U.S. Trustee
         100 E. Vine St., Suite 500
         Lexington, KY 40507
         Tel: (859) 233-2822

                  About Georgetown Mobile Estates

Georgetown Mobile Estates, LLC, is a Kentucky corporation with
headquarters in Georgetown, Scott County, Kentucky.  Originally
incorporated on Jan. 23, 2006, the Company operates a mobile home
park in three areas on the county line of Scott and Fayette,
Kentucky.  The park can take up to 504 customers and,
historically, had an occupancy rate of 92%.

Georgetown Mobile Estates filed a Chapter 11 bankruptcy petition
(Bankr. E.D. Ky. Case No. 15-50945) in Lexington, Kentucky, on May
11, 2015, to take back control of the mobile home park from a
receiver.  Daniel E. Sexton, the present owner, signed the
petition.

The bankruptcy case is assigned to Judge Tracey N. Wise.  The
Debtor estimated $10 million to $50 million in assets and debt.

The Debtor tapped Bunch & Brock of Lexington, Kentucky, as
counsel;
Randy Reynolds of Magnum Capital Consultants, LLC, as financial
advisor; Bradford Burgess of The Thayer Group as financial
advisor;
and Glen DellaValle of DellaValle Management Group as manager of
business operations.

The U.S. trustee overseeing the Chapter 11 case of Georgetown
Mobile Estates LLC appointed three creditors of the company to
serve on the official committee of unsecured creditors.

The Troubled Company Reporter, on Jan. 6, 2016, reported that Judge
Tracey N. Wise signed an agreed order confirming Georgetown Mobile
Estates, LLC's Fourth Amended Plan of Reorganization.

The judge on Sept. 3, 2015, entered an order approving the Second
Modified Disclosure Statement and set an Oct. 8 hearing on the
Plan.  The Debtor filed their Fourth Amended Plan on Oct. 16,
2015.
According to the Oct. 20, 2015 ballot report, holders of secured
claims in Classes 1 and 2, and taxing claims in Class 3 and
unsecured claims in Class 4 accepted the Plan.  The Court held a
confirmation hearing on the Plan on Oct. 21, 2015.  Judge Wise
signed the agreed order confirming the Plan on Oct. 22.


HAGGEN HOLDINGS: Amends Loan Documents to Waive Events of Default
-----------------------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross has approved an amendment to the
DIP Credit Agreement between Haggen Holdings, LLC, and PNC Bank,
NA; JP Morgan Chase Bank, NA; Keybank, NA; U.S. Bank, NA; CIT
Finance LLC and Signature Bank.

Certain Events of Default have occurred under the Credit Agreement
due to the Borrowers' failure to receive Aggregate Liquidity
Pharmacy Proceeds of not less than $30 million and comply with the
Minimum Receipt Covenant for the week ending Oct. 30, 2015.  The
parties have agreed to waive the Designated Events of Default and
modify certain terms of the Credit Agreement and consent to certain
transactions.

The Debtors were earlier authorized to obtain postpetition
financing of up to $215 million from PNC Bank, National
Association, in its capacity as agent.  The Debtors were also
authorized to use cash collateral of prepetition secured parties.
The DIP Loan accrues interest at Alternate Base Rate + 3.00%.  In
the event of default, the DIP Loan will accrue interest at Base
Interest Rate + 2.00%.  The DIP Facility will automatically
terminate without further notice or court proceedings on the
earliest of: (a) Feb. 5, 2016; (b) the effective date or
substantial consummation of a Reorganization Plan that has been
confirmed by an order of the Bankruptcy Court; (c) the closing of
the Approved Core Stores Sale; (d) the date of the conversion of
the Case to a case under Chapter 7 of the Bankruptcy Code; (e) the
date of the dismissal of the Case; and (f) the 22nd day after the
Petition Date if the Final Order has not been entered as of that
date, unless extended, as to the DIP Facility, with the prior
written consent of the DIP Agent and DIP Lenders.

                      About Haggen Holdings

Headquartered in Bellingham, Washington, Haggen was founded in 1933
as a single grocery store.  From 1933 to 2014, Haggen grew into a
30 store family-run grocery chain, with stores located in the
northwestern United States.  From 2011 to 2014, Haggen reduced its
store base to 18, including a stand-alone pharmacy location.

Haggen rapidly expanded in 2014 and 2015, and, as of the Petition
Date, Haggen owned and operated 164 stores through three operating
companies: Haggen, Inc., Haggen Opco North, LLC and Haggen Opco
South, LLC.

Haggen Holdings, LLC, and its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-11874 to
15-11879) on Sept. 8, 2015, with the intention of reorganizing, or
selling as a going concern, their stores for the benefit of their
creditors.

The petitions were signed by Blake Barnett, the chief financial
officer.

The Debtors estimated assets of $50 million to $100 million and
estimated liabilities of $10 million to $50 million.

Young, Conaway, Stargatt & Taylor, LLP, is serving as the Debtors'
local counsel.  Stroock & Stroock & Lavan LLP serves as the
Debtors' general counsel.  Alvarez & Marsal North America, LLC,
acts as the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC serves as the Debtors' claims and noticing agent.

In September 2015, T. Patrick Tinker, assistant U.S. trustee for
Region 3, appointed seven creditors to the official committee of
unsecured creditors.


HAGGEN HOLDINGS: Can Sell Payment Terminals to Supervalu
--------------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross has authorized the sale of Haggen
Holdings, LLC's payment terminal assets to Supervalu, Inc., for
$107,262.

The Payment Terminal Assets were purchased by the Debtors as part
of their effort to transition the Albertsons and Safeway stores to
a Debtor-owned property.  Moreover, the Debtors were required to
purchase these Payment Terminal Assets in order to remain in
compliance with the Payment Card Industry Data Security Standard.

In light of the Debtors' ongoing sale processes, the Debtors do not
require the Payment Terminal Assets or use them in their daily
business operations.  The Payment Terminal Assets represent surplus
assets and are stored, unused, in the Debtors' IT facility.
Accordingly, the Debtors seek to dispose of the Payment Terminal
Assets, in a timely and efficient manner, through a private sale to
Supervalu.

Thus far, Supervalu is the only party who has demonstrated an
interest in purchasing the Payment Terminal Assets.  Supervalu has
offered to pay $107,262 for the Payment Terminal Assets, or $303.00
per unit.  Because each unit has the Debtors’ merchant encryption
key installed, the units would need to be shipped to Verifone,
re-encrypted, and shipped back in order to be usable by another
retailer.  Supervalu will purchase the units without warranty
except for title, and without limiting the foregoing, Supervalu
will purchase the units in their current state and bear any expense
of re-encryption.

                      About Haggen Holdings

Headquartered in Bellingham, Washington, Haggen was founded in 1933
as a single grocery store.  From 1933 to 2014, Haggen grew into a
30 store family-run grocery chain, with stores located in the
northwestern United States.  From 2011 to 2014, Haggen reduced its
store base to 18, including a stand-alone pharmacy location.

Haggen rapidly expanded in 2014 and 2015, and, as of the Petition
Date, Haggen owned and operated 164 stores through three operating
companies: Haggen, Inc., Haggen Opco North, LLC and Haggen Opco
South, LLC.

Haggen Holdings, LLC, and its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-11874 to
15-11879) on Sept. 8, 2015, with the intention of reorganizing, or
selling as a going concern, their stores for the benefit of their
creditors.

The petitions were signed by Blake Barnett, the chief financial
officer.

The Debtors estimated assets of $50 million to $100 million and
estimated liabilities of $10 million to $50 million.

Young, Conaway, Stargatt & Taylor, LLP, is serving as the Debtors'
local counsel.  Stroock & Stroock & Lavan LLP serves as the
Debtors' general counsel.  Alvarez & Marsal North America, LLC,
acts as the Debtors' financial advisor.  Kurtzman Carson
Consultants LLC serves as the Debtors' claims and noticing agent.

In September 2015, T. Patrick Tinker, assistant U.S. trustee for
Region 3, appointed seven creditors to the official committee of
unsecured creditors.


ICON HEALTH: S&P Puts 'B-' CCR on CreditWatch Negative
------------------------------------------------------
Standard & Poor's Ratings Services said that it placed its ratings
on Logan, Utah-based fitness equipment manufacturer ICON Health &
Fitness Inc., including the 'B-' corporate credit rating, on
CreditWatch with negative implications.

The CreditWatch placement reflects the near-term refinancing risk
related to the maturity of ICON's senior secured notes due October
2016 and the possible termination of the company's $175 million
asset-based lending (ABL) revolver -- which the company relies on
for liquidity -- if it doesn't refinance the senior secured notes
by July 15, 2016.

Despite the near-term refinancing risk, S&P is not downgrading the
company today because it expects that its otherwise good operating
performance and "adequate" liquidity, based on our base-case
forecast, will support a successful refinancing.  However, S&P
believes refinancing risk and the cost of refinancing will
meaningfully increase closer to July 15, 2016, the date the ABL
revolver will terminate if the notes are not refinanced.  As a
result, S&P would likely lower the ratings if it loses confidence
by early March 2016 that a successful refinancing event will occur.


S&P expects to resolve the negative CreditWatch placement when the
company refinances its senior secured notes, or by early March 2016
if S&P loses confidence that a successful refinancing will occur.
"We believe that refinancing risk and the cost of refinancing could
increase meaningfully closer to July 15, 2016--the date when the
ABL revolver will terminate if the notes are not refinanced," said
Standard & Poor's credit analyst Emile Courtney. "As a result, we
would likely lower our ratings on ICON if we lose confidence by
early March 2016 that a successful refinancing event will occur."



JOYCE LESLIE: Jan. 22 Meeting Set to Form Creditors' Panel
----------------------------------------------------------
William K. Harrington, United States Trustee of Region 2, will hold
an organizational meeting on January 22, 2016, at 10:30 a.m. in the
bankruptcy case of Joyce Leslie, Inc.

The meeting will be held at:
        
         80 Broad Street
         4th Floor
         New York, NY 10004

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.



JTS LLC: Stipulates With Northrim on Use of Cash Collateral
-----------------------------------------------------------
JTS, LLC, and Northrim Bank have entered into a stipulation on the
use of cash collateral through March 31, 2016.

Under the agreement, the Debtor may use cash collateral in which
Northrim has an interest for the period Jan. 1, 2016 through March
31, 2016, on the terms and conditions set out in the cash
collateral agreement approved by the Court, with the exception that
the Debtor will not be required to make payments to Northrim other
than the regular monthly payments on the loan secured by the first
deed of trust on the Denali Street property.

In addition, the Debtor will not finance any inventory purchases
without an order of this Court on a motion to which Northrim will
have an opportunity to object.

Northrim may terminate the use of cash collateral pursuant to the
stipulation, for any reason or no reason, on 10 days notice to the
Debtor.  During the Notice Period the Debtor may use cash
collateral only in the ordinary course of business.  After the
expiration of the Notice Period the Debtor may not use cash
collateral unless such use is authorized by the Court.

As previously reported in the TCR, Judge Gary Spraker of the United
States Bankruptcy Court for the District of Alaska authorized JTS,
LLC, doing business as Johnson's Tire Service, to use cash
collateral securing its prepetition indebtedness from Northrim Bank
until Nov. 30, 2015.

At the Petition Date, Northrim held an interest in cash collateral
consisting of the Rents, the amounts Debtor held in deposit
accounts that Debtor maintained with Northrim, and the proceeds of
Debtor's accounts, inventory, and general intangibles.  As adequate
protection of Northrim's interests in the cash collateral, Northrim
is entitled to, and will receive valid, enforceable, properly
perfected, non-avoidable, 1st lien position security interests in
all of the same types and items of collateral against which it held
perfected liens before the bankruptcy filing that are acquired by
the bankruptcy estate after the bankruptcy filing.  To the extent
the Cash Collateral Agreement grants Northrim a replacement lien,
the replacement lien is limited to collateral of the same type and
description in which Northrim held a security interest granted
prepetition.

The Debtor says it needs to use the cash collateral money to pay
postpetition operating expenses and for inventory purchases as
required.  The Debtor will need to use funds generated from ongoing
business operations to cover to pay its operating expenses.  The
monthly budget provides that expenses are anticipated to range
between $501,000 and $1.8 million from August through the end of
this year.  The Debtor's income is seasonal and the summer months
are the lowest in revenue and expenses.

                            About JTS

JTS, LLC, doing business as Johnson's Tire Service, sought Chapter
11 protection (Bankr. D. Alaska Case No. 15-00167) in Anchorage,
Alaska, on June 15, 2015, without stating a reason.  JTS, in the
business of retail tire sales and automobile maintenance and
repair, estimated $10 million to $50 million in assets and debt.

The formal schedules of assets and liabilities and the statement of
financial affairs are due June 29, 2015.  The Debtor tapped David
H. Bundy, Esq., at David H. Bundy, PC, in Anchorage, as counsel.

The U.S. Trustee for Region appointed creditors to serve on the
Official Committee of Unsecured Creditors for the Debtor's
bankruptcy case.


KALOBIOS PHARMA: Investors File Suits Over Shkreli Disclosures
--------------------------------------------------------------
Michael Greene, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that at least three purported class actions
have been filed against KaloBios Pharmaceuticals Inc. accusing the
company of violating federal securities laws regarding its
disclosures about former chief executive officer Martin Shkreli.

According to the report, the lawsuits -- all filed in the U.S.
District Court for the Northern District of California -- similarly
allege that KaloBios and Shkreli violated 1934 Securities Exchange
Act Sections 10(b) and 20(a) by misleading investors or by failing
to disclose information related to Shkreli's federal criminal
investigation.

The lawsuits were filed on behalf of investors who bought or
acquired KaloBios stock from mid-November through Dec. 17, when
Shkreli was arrested, the report said.

                 About KaloBios Pharmaceuticals

Based in South San Francisco, Calif., KaloBios Pharmaceuticals,
Inc., is a company biopharmaceutical company focused on the
development of monoclonal antibody therapeutics.

The Company's balance sheet at March 31, 2015, showed $32.0
million
in total assets, $15.9 million in total liabilities, and a
stockholders' deficit of $16.1 million.

KaloBios Pharmaceuticals (Nasdaq: KBIO) on Dec. 29, 2015, filed a
voluntary petition for bankruptcy protection under Chapter 11 of
Title 11 of the United States Bankruptcy Code.  The filing was
made
in the U.S. Bankruptcy Court for the District of Delaware (Case
No.
15-12628).

The Company is represented by Eric D. Schwartz of Morris, Nichols,
Arsht & Tunnell.


KALOBIOS PHARMA: Jan. 21 Meeting Set to Form Creditors' Panel
-------------------------------------------------------------
Andy Vara, Acting United States Trustee of Region 3, will hold an
organizational meeting on January 21, 2016, at 10:00 a.m. in the
bankruptcy case of KaloBios Pharmaceuticals Inc.

The meeting will be held at:
        
         The DoubleTree Hotel
         700 King St., Salon C
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.



KALOBIOS PHARMACEUTICALS: Judge Freezes $5.4M Over Investor Suit
----------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge on Jan. 12, 2016, ordered KaloBios to keep its
bank account from going below $5.4 million until the court
considers an investor lawsuit contending the troubled
pharmaceutical company closed a stock sale hours before ex-CEO
Martin Shkreli was arrested on securities fraud charges.

Ruling from the bench in Wilmington, U.S. Bankruptcy Judge Laurie
Selber Silverstein essentially froze the money that certain
KaloBios investors are trying to get back from the company.  The
investors accuse KaloBios of fraudulently inducing them to invest.

                 About KaloBios Pharmaceuticals

Based in South San Francisco, Calif., KaloBios Pharmaceuticals,
Inc., is a company biopharmaceutical company focused on the
development of monoclonal antibody therapeutics.

The Company's balance sheet at March 31, 2015, showed $32.0 million
in total assets, $15.9 million in total liabilities, and a
stockholders' deficit of $16.1 million.

KaloBios Pharmaceuticals (Nasdaq: KBIO) on Dec. 29, 2015, filed a
voluntary petition for bankruptcy protection under Chapter 11 of
Title 11 of the United States Bankruptcy Code.  The filing was made
in the U.S. Bankruptcy Court for the District of Delaware (Case No.
15-12628).

The Company is represented by Eric D. Schwartz of Morris, Nichols,
Arsht & Tunnell.


KEURIG GREEN: Moody's Assigns Ba3 CFR & Rates $6.4BB Debt Ba3
-------------------------------------------------------------
Moody's Investors Service has assigned a Ba3 Corporate Family
Rating and B1-PD Probability of Default Rating to Keurig Green
Mountain.  Moody's also has assigned Ba3 ratings to $6.4 billion of
senior secured debt instruments being offered to fund the $13.9
billion leveraged buyout of the US coffee company.  The rating
outlook is stable.

On Dec. 7, 2015, Keurig announced that it had agreed to be acquired
by an investor group led by JAB Holding Company ("JAB",
Baa1/negative) for $13.9 billion equity value.  To fund the
transaction and to support the company's liquidity needs, the
investor group is contributing $8.5 billion of cash equity and is
offering $5.9 billion of five- and seven-year secured term loans
and a $500 million five-year secured revolving credit facility.  At
closing, all existing debt at Keurig, which totaled $350 million at
the end of September 2015, will be retired.  The transaction is
expected to close in the first quarter of calendar 2016.

RATINGS RATIONALE

Keurig's Ba3 Corporate Family Rating reflects the company's
expanding base of category-leading Keurig single-cup brewers, which
in turn drive sales of single-serve portion packs that generate
high profit margins and strong cash flows.  The rating also
reflects growing competitive pressures in the single-serve coffee
portion pack business that has led to a gradual decline in the
company's growth rate, market share and profit margins. However,
the US single serve coffee category should continue to grow for
several years, albeit at a slowing rate, allowing KGM to grow
earnings and reduce financial leverage.

At closing, financial leverage will be high for the Ba3 rating, but
should decline steadily.  Moody's estimates that debt/EBITDA will
approximate 5.5x at closing and decline at a rate of at least a
half-turn a year through a combination of planned cost reductions
and earnings growth.  Moody's cautions that the pace of
deleveraging will be subject to high execution risk, including the
uncertainty regarding sales of its brewers this past holiday season
and heightened competition in coffee pod sales.

Keurig Green Mountain

Ratings assigned:

  Corporate Family Rating at Ba3;
  Probability of Default Rating at B1-PD;
  Senior secured bank credit facility at Ba3 (LGD3).

Ratings could be upgraded if KGM is able to sustain stable
operating performance and positive free cash flow, as well as
debt/EBITDA below 4.0x.  Ratings could be downgraded if liquidity
erodes significantly and/or KGM faces deteriorating operational
performance such that debt/EBITDA is sustained above 5.0 times.

The principal methodology used in these ratings was Global Packaged
Goods published in June 2013.

Keurig Green Mountain, Inc., based in Waterbury, Vermont, is a
manufacturer of Keurig single serve brewing systems and beverages,
including specialty coffee, tea and other beverages, in single
serve packs for use with its brewers.  For the twelve months ended
Sept. 27, 2015, the company generated net sales of $4.5 billion.

JAB Holding Company S.a.r.l. is a privately held investment holding
company, focused on long-term investments in consumer goods and
retail companies with premium brands.  JAB's key investments in
terms of market value include: Reckitt Benckiser Group Plc (A1
stable), in consumer health and hygiene products; Coty Inc. (Ba1
stable), in fragrances, cosmetics and body care; and Jacobs Douwe
Egberts International B.V. ((P)Ba3 stable) in coffee and tea.



LA PERRONA BOTAS: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: La Perrona Botas Y Ropa I, LLC
        P.O. BOX 14118
        Phoenix, AZ 85063

Case No.: 16-00434

Chapter 11 Petition Date: January 19, 2016

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

Judge: Hon. Madeleine C. Wanslee

Debtor's Counsel: Patrick F Keery, Esq.
                  HAGUE KEERY & MCCUE, PLLC
                  3900 E Camelback Rd
                  Suite 135
                  Phoenis, AZ 85018
                  Tel: 480-478-0709
                  Fax: 480-478-0787
                  Email: pfk@hkmaz.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ana De Anda, member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/azb16-00434.pdf


LEHMAN BROTHERS: 2nd Circ. Refuses to Retry Suit Over Unpaid Bonus
------------------------------------------------------------------
Max Stendahl at Bankruptcy Law360 reported that the Second Circuit
on on Jan. 12, 2016, refused to reinstate a suit claiming that
Lehman Brothers fired an employee and wrongly failed to pay her a
$350,000 bonus after learning that she had accused two previous
employers of gender discrimination.  A three-judge panel rejected
an appeal by Mary Ortegon, a former business chief administrative
officer in Lehman Brothers Inc.'s fixed income unit who argued that
the investment bank reneged on its promise to pay her a guaranteed
minimum bonus.

                     About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/--       
was the fourth largest investment bank in the United States.  
For more than 150 years, Lehman Brothers has been a leader in
the global financial markets by serving the financial needs of
corporations, governmental units, institutional clients and
individuals worldwide.

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

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

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

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

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

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

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

                          *     *     *

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

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


LINDERIAN COMPANY: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: The Linderian Company, Ltd.
        301 Hollybrook Dr.
        Longview, TX 75605

Case No.: 16-60031

Nature of Business: Health Care

Chapter 11 Petition Date: January 19, 2016

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

Debtor's Counsel: Mark A. Castillo, Esq.
                  CURTIS CASTILLO PC
                  901 Main St. Suite 6515
                  Dallas, TX 75202
                  Tel: 214-752-2222
                  Fax: 214-752-0709
                  Email: mcastillo@curtislaw.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Greg Sechrist, managing partner.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/txeb16-60031.pdf


LWP CAPITAL: Claims Bar Date Set for March 15
---------------------------------------------
Pursuant to an order by the Ontario Superior Court of Justice, any
person who believes that he has a claim against LWP Capital Inc.,
fka Legumex Walker Inc., or a former director or officer of the
company should send a proof of claim to KSV Advisory Inc. by March
15, 2016, at 5:00 p.m.

Claimants who require a proof of claim form may access the form at
KSV Advisory's website at www.ksvadvisory.com or they may contact
the firm to obtain a hard copy of the proof of claim and the claims
procedure order.

KSV Advisory can be reached at:

    KSV Advisory Inc.
      in capacity as the liquidator of LWP Capital Inc.
    150 King Street West, Suite 2308
    Toronto, ON M5H 1J9
    Attention: Amanda Bezner
    Tel: 416-932-6020
    Fax: 416-932-6266
    Email: abezner@ksvadvisory.com


MAPLE HOLDINGS: S&P Assigns 'BB-' CCR & Rates Facilities 'BB'
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' corporate
credit rating to Maple Holdings Acquisition Corp., operating as
Keurig Green Mountain.  The outlook is stable.

At the same time, S&P assigned its 'BB' issue-level ratings to the
company's proposed first-lien credit facilities, including a $500
million revolving facility due 2021, a $2.95 billion term loan A
due 2021, a $2.675 billion term loan B due 2023, and a $275 million
(roughly EUR250 million) euro-denominated term loan B due 2023.
The recovery rating on the first-lien term loans is '2,' reflecting
S&P's expectation of substantial (70% to 90%, in the upper half of
the range) recovery in the event of a default.

Maple Holdings Acquisition Corp. operates as Keurig Green Mountain.
For the purposes of S&P's analysis, it is using KGM to refer to
both entities.

"The ratings on KGM reflect the company's high financial leverage
after the leveraged buyout, deleveraging focus, leading position in
single-serve coffee brewers and K-Cups in the U.S., participation
in the fastest-growing sector of the coffee industry, and lack of
product and geographic diversity," said Standard & Poor's credit
analyst Diane Shand.  "The stable outlook reflects our expectation
that the company will prioritize deleveraging and use internally
generated cash for debt repayment. We also expect the company to
generate sales growth by improving marketing and expand margins
through cost reductions over the next 12 months, which should
enable the company to generate FOCF in excess of $500 million and
reduce financial leverage below 5.0x within one year of the close
of the transaction."

Standard & Poor's could consider an upgrade if KGM sustainably
grows the sales of its high-margin K-Cups despite strong
competition from alternative coffee products, maintains margins at
least at current levels (about 24%), and sustains financial
leverage below 4x through debt reduction.

S&P could consider lowering the ratings if KGM's leverage does not
decrease below 5.0x within 12 months of the close of the
transaction.  This could result from a material reduction in FOCF
generation from currently expected levels, possibly from market
share losses because of changes in consumer tastes or from a change
in the company's financial policies resulting in excess cash
applied to dividends versus debt reduction.



MBIA INSURANCE: Moody's Lowers IFS Rating to B3
-----------------------------------------------
Moody's Investors Service has downgraded the insurance financial
strength (IFS) rating of MBIA Insurance Corporation to B3, from B2.
The rating is on review for further downgrade.

The rating action on MBIA Corp. has no impact on the ratings of
MBIA Inc. (senior debt Ba1/negative), National Public Finance
Guarantee Corporation (National - IFS rating A3/negative) or MBIA
UK Insurance Limited (IFS rating Ba2/stable).  Moody's will comment
on the rating and outlook of MBIA Mexico S.A. de C.V. (MBIA Mexico)
in a separate press release.

The rating action also has implications for the various
transactions wrapped by MBIA Corp. as discussed later in this press
release.

SUMMARY RATIONALE

Moody's stated that the rating action reflects the heightened
uncertainties and risks associated with the remediation of the
Zohar I and Zohar II CLO notes transactions that MBIA Corp.
insures.  The default of Zohar I in November 2015 resulted in MBIA
Corp. making a $149 million claims payment to insured noteholders,
which meaningfully reduced MBIA Corp.'s liquidity position and
heightens concerns related to the company's approximately $808
million of exposure to Zohar II which matures in January 2017.
Affiliated entities of Patriarch Partners LLC, led by Ms. Lynn
Tilton, serve as collateral manager for both Zohar I and Zohar II.

While MBIA Corp. expects to ultimately gain access to certain
rights and remedies following the default of Zohar I and the
associated payment under its insurance policy, Patriarch Partners
XV LLC, an affiliate of Patriarch and a holder of Zohar I's more
junior Class A-3 notes, has filed an involuntary bankruptcy
petition against Zohar I in U.S. Bankruptcy Court seeking to limit
MBIA Corp.'s role in the restructuring of the entity.  In addition,
on Nov. 2, 2015, Ms. Tilton and Patriarch Partners XV LLC filed a
complaint in New York Supreme Court, Westchester County, against
MBIA Corp. and its parent, alleging fraudulent inducement arising
from purported promises made by MBIA regarding the Zohar I
transaction.

These lawsuits have slowed MBIA Corp. from replacing Patriarch as
collateral manager and from accessing additional information about
the assets held by Zohar I, delaying its ability to recover its
losses on the transaction.  This delay could also adversely affect
the company's ability to mitigate potential losses on Zohar II
through a restructuring of the transaction prior to the maturity
date.  Given the limited transparency into the holdings of Zohar I
and Zohar II, Moody's believes there is meaningful uncertainty
regarding the value of the collateral held by these CLOs in current
market conditions.  While Patriarch is expected to present a
remediation plan for Zohar I to the Bankruptcy Court within the
next couple of weeks, it remains unclear how such hearings will
affect MBIA's ability to remediate its losses.  A payment default
at maturity on Zohar II would exhaust MBIA Corp.'s liquidity,
unless the firm is able to access new liquidity sources, and place
significant strain on its reported $2.4 billion of total claims
paying resources.

According to Moody's, credit deterioration at MBIA Corp. has only a
limited impact on the broader MBIA group given the substantial
delinking following the removal of the cross-default provision with
MBIA Inc.'s debt, and MBIA Corp.'s repayment of a loan from
affiliate National.  However, further deterioration at MBIA Corp.,
could still adversely impact MBIA Inc., and to a lesser extent,
National, through reputational damage caused by their affiliation
with MBIA Corp.

RATINGS RATIONALE -- MBIA INSURANCE CORPORATION

The B3 IFS rating of MBIA Corp., on review for downgrade, reflects
the company's weak capitalization relative to its remaining insured
exposures, and its strained liquidity position.  Recent
commutations of insured exposures, and the settlement of RMBS
put-back claims have improved the firm's capital adequacy profile,
but liquidity remains tight as much of the firm's statutory capital
stems from contingent claims on excess spread recoveries on RMBS
transactions and additional RMBS put-back settlement recoveries.
The majority of MBIA Corp.'s structured finance book is expected to
run off within the next five years, freeing up capital resources.
However, MBIA Corp. remains exposed to a number of large structured
transactions that could cause significant stress, including
insolvency, in the event of default with a large liquidity call
and/or a high severity of loss.  Excluding holdings at its
subsidiaries, MBIA Corp. had approximately $250 million in pro
forma cash and cash equivalents, and other liquid assets at Sept.
30, 2015 (following its $149 million claims payment on Zohar I).

Moody's added that the ratings of MBIA Corp.'s preferred stock (C
hyb) and surplus notes (Ca hyb), reflect their high expected loss
content given the company's still weak capital profile and the
deeply subordinated nature of these securities.

WHAT COULD CHANGE THE RATINGS UP OR DOWN

The ratings review on MBIA Corp. will focus on the legal
developments and loss remediation results related to the Zohar I
transaction, as well as developments related to Zohar II in advance
of its January 2017 maturity date.  The ratings of MBIA Corp. could
be confirmed if the firm's liquidity position improved materially
or the outcome of the Zohar I bankruptcy proceedings point to a
more favorable outcome for MBIA Corp.  Conversely, the ratings
could be downgraded if developments related to the Zohar
transactions diminish the firm's capital adequacy position and
result in the further stress on the company's liquidity profile.

RATING LIST

Thos rating has been downgraded and is on review for further
downgrade:

MBIA Insurance Corporation -- insurance financial strength to B3
from B2;

This rating has been affirmed:

MBIA Insurance Corporation -- surplus notes at Ca(hyb), preferred
stock at C(hyb).

TREATMENT OF WRAPPED TRANSACTIONS

Moody's ratings on securities that are guaranteed or "wrapped" by a
financial guarantor are generally maintained at a level equal to
the higher of the following: a) the rating of the guarantor (if
rated at the investment grade level); or b) the published
underlying rating (and for structured securities, the published or
unpublished underlying rating).  Moody's approach to rating wrapped
transactions is outlined in Moody's methodology "Rating
Transactions Based on the Credit Substitution Approach: Letter of
Credit-backed, Insured and Guaranteed Debts" (December 2015).

MBIA Insurance Corporation is a financial guaranty insurance
company based in New York State and is a wholly owned subsidiary of
MBIA Inc. [NYSE: MBI].  As of Sept. 30, 2015, MBIA Inc. had
consolidated gross par outstanding of approximately $216 billion
and qualified statutory capital at its subsidiaries of
approximately of $4.2 billion.

The principal methodology used in these ratings was Financial
Guarantors published in December 2015.



MILLER ENERGY: Former Executive Reaches Deal to Resolve SEC Suit
----------------------------------------------------------------
Cara Salvatore at Bankruptcy Law360 reported that the U.S.
Securities and Exchange Commission will freeze its case against a
former exec of driller Miller Energy Resources Inc. in anticipation
of a settlement over alleged inflation of asset values, the agency
said on Jan. 11, 2016, days after Miller told a bankruptcy court
it's reached its own settlement for $5 million.

The SEC issued a short order on Jan. 11, staying the case against
Tennessee-based Miller's former chief operating officer, David
Hall, as it considers a settlement deal with him.

                  About Miller Energy Resources

Miller Energy Resources, Inc. --
http://www.millerenergyresources.com/-- is an oil and natural gas

production company focused on Alaska.  The Company has a
substantial acreage, reserve, and resource position in the State,
significant midstream and rig infrastructure to support production,
and 100% working interest in and operatorship of most of its
assets.

Miller Energy Resources and 10 of its affiliates filed Chapter 11
bankruptcy petitions (Bank. D. Alaska Proposed Lead Case No.
15-00236) on Oct. 1, 2015.  Carl F. Giesler, Jr., signed the
petition as chief executive officer.

The Debtors disclosed total assets of $392,559,000 and total debts
of $336,910,000 as of Jan. 31, 2015.

Judge Gary Spraker is assigned to the case.  The Debtors have
engaged Andrews Kurth LLP as counsel, Seaport Global Securities as
financial advisor, and Prime Clerk as claims and noticing agent.

On Aug. 6, 2015, Cook Inlet, a wholly-owned by MER, became the
subject of an involuntary Chapter 11 case filed by four creditors
asserting to have an aggregate claim of $2.8 million.  The
petitioning creditors were Baker Hughes Oilfield, M-I LLC,
Schlumberger Tech. Corp, and Baker Petrolite, LLC.  Judge Spraker
granted an order for relief under Chapter 11 of the Bankruptcy Code
on Oct. 2, 2015.


MOLYCORP INC: Bloomberg Wins Time to Fight Disclosures
------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that the federal judge who ordered a group of bankruptcy
professionals to report conversations with Bloomberg LP reporters
involving troubled rare-earths mining company Molycorp Inc. changed
his mind and granted the news organization more time to mount a
legal challenge.

According to the report, Judge Christopher Sontchi of the U.S.
Bankruptcy Court in Wilmington, Del., said he may have erred in
denying Bloomberg a chance to challenge the order he issued last
week.  That order required some 120 professionals involved in
Molycorp's chapter 11 case to file sworn statements about any
conversation they had with Bloomberg reporters concerning the
mining company in recent months, the report related.

                       About Molycorp Inc.

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

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

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

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

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

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

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

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

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

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


NET DATA: Exclusive Right to File Plan Extended to March 1
----------------------------------------------------------
Net Data Centers Inc. obtained a court order extending the period
of time during which it alone holds the right to file a Chapter 11
plan.

The order, issued by U.S. Bankruptcy Judge Sheri Bluebond, extended
the company's exclusive right to propose a plan to March 1 and
solicit votes from creditors to May 2.  

The extension would prevent others from filing rival plans in court
and maintain the company's control over its bankruptcy case.  

Net Data Centers sought for an extension of its exclusive right in
light of a mediation conference, which is set to be held next
month.  The company agreed to participate in the mediation
conference and not to file a bankruptcy plan before Feb. 29.

The case status hearing, previously scheduled for Jan. 27, has also
been moved to April 13, court filings show.   

Last year, the company sold to Anexio Data Centers LLC some of the
assets it used in operating its data centers in New Jersey and
Virginia.    
   
Anexio, which emerged as the winning bidder at an auction,
initially offered $4.5 million in cash, plus a 20% stake in the
buyer.  The sale, however, was not consummated prior to the Sept.
30 deadline.

In order for the sale to push through, Anexio was allowed to
deliver a secured promissory note in the amount of $1.125 million
in lieu of the 20% stake in the buyer.  The revised sale agreement,
supported by unsecured creditors, was approved on Oct. 14 by the
bankruptcy court.

                      About Net Data Centers

Net Data Centers, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. C.D. Cal. Case No. 15-12690) on Feb. 23, 2015.  Pervez P.
Delawalla, the president & CEO, signed the petition.  The Hon.
Sheri Bluebond is assigned to the case.  William F Govier, Esq., at
Lesnick Prince & Pappas LLP, serves as counsel to the Debtor.

The Debtor disclosed, in its amended schedules, $9,566,908 in
assets and $13,352,373 in liabilities.  In its original schedules,
the Debtor disclosed $9,110,070 in assets and $5,236,687 in
liabilities.  

The U.S. trustee appointed three creditors to serve on the Official
Committee of Unsecured Creditors.  The Committee is represented by
Buchalter Nemer, APC.


NEW GULF RESOURCES: 341 Meeting of Creditors Set for Jan. 26
------------------------------------------------------------
A meeting of creditors of New Gulf Resources LLC is set to be held
on Jan. 26, 2016, at 9:30 a.m., according to a filing with the U.S.
Bankruptcy Court for the District of Delaware.

The meeting will be held at J. Caleb Boggs Federal Building, 844
King Street, 2nd Floor, Room 2112, in Wilmington, Delaware.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                     About New Gulf Resources

New Gulf Resources, LLC, NGR Holding Company LLC, NGR Texas, LLC
and NGR Finance Corp. filed Chapter 11 bankruptcy petitions (Bankr.
D. Del. Proposed Lead Case No. 15-12566) on Dec. 17, 2015.  The
petition was signed by Danni Morris as chief financial officer.

Founded in 2011 and headquartered in Tulsa, Oklahoma, New Gulf is
an independent oil and natural gas company engaged in the
acquisition, development, exploration and production of oil and
natural gas properties, focused primarily in the East Texas Basin.
The Company currently employs 55 people.

The Debtors have engaged Baker Botts L.L.P., as bankruptcy counsel,
Young, Conaway, Stargatt & Taylor, LLP as co-counsel, Barclays
Capital Inc., as investment banker, Zolfo Cooper, LLC as financial
advisor, and Prime Clerk LLC as claims and notice agent.

Judge Brendan Linehan Shannon has been assigned the case.


NEW GULF RESOURCES: US Trustee Unable to Appoint Committee
----------------------------------------------------------
The Office of the U.S. Trustee announced that a committee of
unsecured creditors has not been appointed in the Chapter 11 case
of New Gulf Resources LLC.

In a Jan. 11 filing with the U.S. Bankruptcy Court in Delaware, the
bankruptcy watchdog cited as reason the "insufficient response"
from the company's unsecured creditors.

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense.  They may investigate the debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                     About New Gulf Resources

New Gulf Resources, LLC, NGR Holding Company LLC, NGR Texas, LLC
and NGR Finance Corp. filed Chapter 11 bankruptcy petitions (Bankr.
D. Del. Proposed Lead Case No. 15-12566) on Dec. 17, 2015.  The
petition was signed by Danni Morris as chief financial officer.

Founded in 2011 and headquartered in Tulsa, Oklahoma, New Gulf is
an independent oil and natural gas company engaged in the
acquisition, development, exploration and production of oil and
natural gas properties, focused primarily in the East Texas Basin.
The Company currently employs 55 people.

The Debtors have engaged Baker Botts L.L.P., as bankruptcy counsel,
Young, Conaway, Stargatt & Taylor, LLP as co-counsel, Barclays
Capital Inc., as investment banker, Zolfo Cooper, LLC as financial
advisor, and Prime Clerk LLC as claims and notice agent.

Judge Brendan Linehan Shannon has been assigned the case.


NNN MET CENTER: GECMC Objects to Disclosure Statement
-----------------------------------------------------
GECMC 2005-C4 Metro Center, LLC, objects to the Disclosure
Statement filed by debtors NNN Met Center 15 39 and 32, et al.,
dated Nov. 30, 2015.

Yochun Katie Lee, Esq., representing GECMC, tells the Court that
the Disclosure Statement lacks certain information creditors need
to evaluate the feasibility of the Debtors' Plan and the likelihood
it can be implemented as described.  The Disclosure Statement
cannot be approved as proposed because it fails to provide adequate
and accurate information upon which creditors can make informed
judgments whether to accept or reject the Debtors' Plan.

Specifically, the Disclosure Statement cannot be approved because
it:

  -- Does not adequately discuss the risks to feasibility and
implementation of the Debtors' Plan should the Court allow Lender's
secured claim in full;

  -- Does not adequately discuss the risks to feasibility and
implementation of the Plan should the Debtors' Exclusivity Motion
(as defined below) succeed and the Debtors' financing commitments
expire;

  -- Fails to provide sufficient financial information regarding
the Debtors and their business, including financial projections for
the Property;

  -- Fails to provide sufficient information about the leases that
provide the Debtors their primary source of income;

  -- Does not sufficiently describe the Debtors' proposed
financing; and

  -- Fails to provide a detailed liquidation analysis.

The Lender submits that the Disclosure Statement is misleading by
omission and does not contain adequate information for holders of
claims and interests to make an informed judgment when voting to
accept or reject the Plan.

The Lender intends to file a competing plan of reorganization once
the Debtors' exclusivity period has expired either statutorily or
by order of the Court.  The Lender's Plan largely will be based on
the Debtors' Plan but will provide for (i) the full payment of
Lender's Claim, including all allowed postpetition interest and
fees within 45 days of the effective date or (ii) authority for
Lender to foreclose on the Property in full and final satisfaction
of Lender's Claim.  When the Disclosure Statement is approved by
the Court, the Lender intends to adopt it with respect to the
Lender's Plan.

GECMC 2005-C4 Metro Center is represented by:

         Charles R. Gibbs, Esq.
         Eric C. Seitz, Esq.
         AKIN GUMP STRAUSS HAUER & FELD LLP
         1700 Pacific Avenue, Suite 4100
         Dallas, Texas 7 5201
         Tel: (214) 969-2800
         Fax: (214) 969-4343
         E-mail: cgibbs@akingump.com
                 eseitz@akingump.com

               - and -

         Yochun Katie Lee, Esq.
         AKIN GUMP STRAUSS HAUER & FELD LLP
         2029 Century Park East, Suite 2400
         Los Angeles, California 90067
         Tel: (310) 229-1000
         Fax: (310) 229-1001
         E-mail: kylee@akingump.com

                    About NNN Met Center 15 39

NNN Met Center 15 39 and 32 entities are each the owners of
varying, undivided tenancy-in-common ("TIC") interests in a
commercial real property commonly known as "Met Center 15",
situated at 7301 Metro Center Dr., Austin, Texas.  The property
consists of a commercial building, containing 257,600 square feet
of rentable area, on 26.83 acres of land.

NN Met Center 15 39 and 32, et al., filed Chapter 11 bankruptcy
petitions (Bankr. N.D. Cal. Lead Case No. 15-42359) on July 31,
2015.  Alan Sparks, as manager and responsible individual, signed
the petitions.  

NNN Met Center 15 39, LLC, disclosed total assets of $32,003,866
and total liabilities of $28,143,523 as of the Petition Date.  

Judge William J. Lafferty presides over the cases.  

The Debtors tapped The Law Offices of Darvy Mack Cohan as counsel,
and Elkington Shepherd LLP as their local counsel.

On Aug. 12, 2015, the Court entered an amended order approving the
joint administration of the cases.

The claims bar date expired on Oct. 30, 2015.


OW BUNKER: Court Denies Valero's Bid for Summary Judgment
---------------------------------------------------------
Valero Marketing and Supply Co. filed a Motion for Summary Judgment
contending that it is entitled to summary judgment as its maritime
lien claim is valid and enforceable against the M/V ALMI SUN, IMO
No. 9579535.  

Valero argues that there is no genuine disputed issue of material
fact, and that the solitary issue before the United States District
Court for the Eastern District of Louisiana is whether Valero
possesses a valid maritime lien upon the Vessel that can be
enforced directly against the Vessel in rem (or the LOU) to satisfy
the overdue payment for the fuel bunkers in question.  Valero avers
that the matter is controlled by the Commercial Instruments and
Maritime Liens Act.

In an Order dated December 28, 2015, which is available at
http://is.gd/ADoUQTfrom Leagle.com, Judge Nannette Jolivette Brown
of the United States District Court for the Eastern District of
Louisiana denied Valero's bid for summary judgment.

The case is VALERO MARKETING AND SUPPLY CO., v. M/V ALMI SUN, IMO
NO. 9579535, her engines, apparel, furniture, equipment,
appurtenances, tackle, etc., in rem, Section: "G"(4), Civil Action
No. 14-2712 (E.D. La.).

Valero Marketing and Supply Company, Plaintiff, is represented by
Michael H. Bagot, Jr., Esq. -- mbagot@wb-lalaw.com -- Wagner, Bagot
& Rayer LLP, Thomas Arnoult Rayer, Jr.,Esq. -- ttayer@wb-lalaw.com
-- Wagner, Bagot & Rayer LLP & Thomas James Wagner, Esq. --
twagner@wb-lalaw.com -- Wagner, Bagot & Rayer LLP.

Verna Marine Co., Ltd, Defendant, is represented by Gary Alan
Hemphill, Esq. -- gary.hemphill@phelps.com -- Phelps Dunbar, LLP,
Adam N. Davis, Esq. -- adam.davis@phelps.com -- Phelps Dunbar, LLP
& Jeremy T. Grabill, Esq. -- jeremy.grabill@phelps.com -- Phelps
Dunbar, LLP.

                           About OW Bunker

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

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

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


PACIFIC ARCHITECTS: S&P Puts 'B+' CCR on CreditWatch Developing
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it has placed all of
its ratings on Pacific Architects & Engineers Inc., including S&P's
'B+' corporate credit rating, on CreditWatch with developing
implications.

"The CreditWatch placement follows PAE's announcement that Platinum
Equity has signed a definitive agreement to acquire the company
from its current owner, Lindsay Goldberg," said Standard & Poor's
credit analyst Chris Mooney.  The financial terms of the
transactions have not been disclosed.  S&P could affirm, raise, or
lower its ratings on PAE depending on the financing strategy that
Platinum employs.

"We will resolve the CreditWatch placement in the coming weeks when
more information becomes available.  We could lower our ratings on
PAE if we believe that Platinum Equity will increase the company's
debt-to-EBITDA metric above 5x to fund this transaction or future
acquisition or dividends.  We could remove our ratings on PAE from
CreditWatch and leave them unchanged if we believe that the
company's debt-to-EBITDA metric will continue to remain below 5x
for a sustained period.  Although less likely, we could raise our
ratings on PAE if we believe that the company's debt-to-EBITDA
would remain below 4x for a sustained period.  It is also possible
that Platinum Equity may choose to repay the company's outstanding
debt and subsequently request that we withdraw our rating on the
company," S&P said.



PACIFIC EXPLORATION: Moody's Lowers CFR & Sr. Debt Ratings to C
---------------------------------------------------------------
Moody's Investors Service has downgraded Pacific Exploration &
Production Corp (Pacific E&P)'s corporate family rating and senior
unsecured debt ratings to C from Caa3.

RATING RATIONALE

The downgrade was triggered by the company's announcement on Jan.
14 that it will use the 30-day grace period under the senior
unsecured notes due 2025 and 2019 to assess liquidity and capital
structure alternatives.  The C ratings reflect Moody's expected
recovery rate of less than 35% for bondholders in a potential debt
restructuring or distressed exchange scenario.

The C ratings incorporate Moody's assessment of a significant level
of future losses for bondholders in connection to the very low
expected recovery relative to the company's asset base, considering
current depressed oil prices.  Pacific E&P's liquidity will remain
pressured for a longer period given much lower cash flows due to
stressed oil prices, which, in Moody's view, will remain so in the
foreseeable future.  Challenges to sell assets in the oil and gas
industry and limited access to funding further pressure Pacific
E&P's liquidity profile.

Pacific E&P's C ratings incorporate other risks such as asset
concentration in Colombia and the company's short proved reserve
life of 5.8 years.  The ratings also consider the development and
financing risks associated with the company's heavy oil fields and
large infrastructure investments.  Moody's continues to incorporate
into Pacific E&P's ratings that the company will not rapidly
replace the Rubiales-Piriri field, which represented 36% of
production as of the third quarter 2015, and will be returned to
Ecopetrol in mid-2016.  The ratings are supported by Pacific E&P's
capable and seasoned management team and the company's successful
technology that optimizes oil recoveries in underdeveloped fields,
especially applied in production of heavy oil.  In addition, the
company's historical exploration success has been a high 78%.

An upgrade of Pacific E&P's ratings is unlikely in the short to
medium term, but the ratings could be upgraded if the company
strengthens its capital structure and improves its liquidity
profile.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

Pacific Exploration and Production Corp., previously named Pacific
Rubiales, is a Canadian-based exploration and production company
with production operations primarily in Colombia, where it is the
second largest producer, operating in partnership with Ecopetrol
S.A., the national oil company.  It also has other assets in Peru,
Brazil, Guatemala, Papua New Guinea, Guyana and Belize.  The
company is predominantly a heavy oil producer (58% oil production)
in the Llanos Basin.  As of Sept. 30, 2015, the company had last
twelve month revenues of USD 3.2 billion dollars, USD 10.1 billion
dollars in total assets and an average daily production of 150
MBOE/day.



PETROQUEST ENERGY: Moody's Lowers CFR to Caa3, Outlook Negative
---------------------------------------------------------------
Moody's Investors Service downgraded Petroquest Energy, Inc.'s
Corporate Family Rating to Caa3 from B3, the Probability of Default
Rating to Caa3-PD from B3-PD, and the company's senior unsecured
notes ratings to Ca from Caa1.  The Speculative Grade Liquidity
(SGL) Rating was lowered to SGL-4 from SGL-3 and the rating outlook
was changed to negative.

Petroquest announced a private exchange offer to exchange up to
$300 million of its existing 10% senior unsecured notes due 2017
($350 million outstanding) for up to $75 million of cash, $202.5
million of new 10% second lien senior secured notes due 2021, and
six million shares of its common stock.  Moody's views this
exchange offer as a distressed exchange, an event of default under
Moody's definition of default.  Upon closing of the second lien
financing, Moody's will append Petroquest's PDR with an "/LD"
designation indicating limited default, which will be removed after
three business days.  Moody's ratings are subject to review of all
final documentation related to this transaction.

"The ratings downgrade and the negative outlook reflect the
pressure on Petroquest's internal cash flow generation and credit
metrics due to the weak commodity price outlook," commented
Arvinder Saluja, Moody's Vice President.  "While the proposed
second lien secured notes issuance temporarily eases the stress of
addressing a material debt maturity in 2017 and provides up to
approximately $10 million per year in fixed charge savings, weak
cash flow generation will cause the liquidity profile to
deteriorate and the risk of additional distressed exchanges
remains."

Downgrades:

Issuer: PetroQuest Energy, Inc

  Probability of Default Rating, to Caa3-PD from B3-PD
  Corporate Family Rating, to Caa3 from B3
  Senior Unsecured Regular Bond/Debenture, to Ca, LGD6 from Caa1,
   LGD4

Lowered:

  Speculative Grade Liquidity Rating, to SGL-4 from SGL-3
  Outlook, Changed To Negative From Stable

RATINGS RATIONALE

The downgrade of Petroquest's CFR to Caa3 reflects the anticipated
worsening of liquidity and credit metrics in 2016 due to the weak
commodity price environment.  The rating is also constrained by the
company's modest scale and geographic concentration risks, with one
well in the Gulf Coast Basin expected to contribute
disproportionately to production and cash flows in 2016.  Reserves
and production growth are likely to remain muted (although capex
requirements to maintain production in 2016 are very low), and with
no meaningful hedges in 2016, Moody's do not expect the company to
generate meaningful positive operating cash flow. Subject to the
participation levels in the exchange offer, the proposed second
lien secured notes issuance could leave the company with
approximately $202.5 million of second lien notes due 2021, $50
million of existing unsecured notes due September 2017 and
approximately $70 million of cash.  While this exchange offer could
significantly reduce the 2017 maturity burden to $50 million from
$350 million, the glum industry environment could lead to severe
liquidity stress with cash balances and revolver availability not
sufficient to address the maturity.

The existing unsecured notes have been downgraded to Ca, one notch
below the CFR, reflecting the subordination of the unsecured notes
to the secured borrowing base revolving credit facility and the
proposed second lien secured notes.  The proposed second lien
secured notes are subordinated to the first lien secured borrowing
base revolving credit facility under Moody's Loss Given Default
(LGD) methodology.

The SGL-4 rating reflects weak liquidity through 2016.  The company
is estimated to have approximately $70 million of cash on the
balance sheet, pro forma for the proposed issuance and continues to
maintain an undrawn revolver.  Moody's expects cash balances to
diminish as EBITDA generation will not to be sufficient to support
cash interest needs of $25 million - $30 million, a reduced capital
spending program of $13 million - $15 million and working capital
swings.  Pro forma for the exchange offer, the maturity of over $50
million of the existing senior unsecured notes will need to be
addressed by September 2017.  The company has a borrowing base
revolving credit facility that expires on the earlier of June 4,
2020, or Feb. 19, 2017, if any portion of the senior unsecured
notes remain outstanding as of that date.  The borrowing base is
$55 million and the company had no borrowings outstanding under the
revolver as of December 31, 2015.  Financial covenants under the
facility are debt / EBITDAX of 4.0x through December 31, 2016,
reducing to 3.5x thereafter, as well as a minimum current assets /
current liabilities ratio of 1.0x.  There is a high likelihood of a
covenant violation in 2016 unless the company achieves a covenant
waiver or amendment, which Petroquest has been successful in
obtaining through recent redeterminations.

The negative outlook reflects the anticipated elevation of
liquidity stress on the company due to the commodity price outlook
and potential covenant breach.  The outlook also reflects the risk
of purchasing any remaining unsecured notes at steep discounts to
face value, post-closing of the current exchange offer.

The ratings could be downgraded if Petroquest does not maintain
sufficient cash balances to cover the 2017 maturity of the
unsecured notes that remains in place after the completion of the
proposed exchange offer.

A ratings upgrade is less likely through September 2017 given the
debt maturity and the weak commodity price outlook.  However,
ratings could be upgraded if Petroquest maintains adequate
liquidity, including sustained positive cash flow after funding
maintenance capital expenditure and dividends.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

Petroquest is an exploration and production company based in
Lafayette, Louisiana.



PLATTSBURGH SUITES: Gets Approval to Hire North East Appraisals
---------------------------------------------------------------
Plattsburgh Suites LLC received approval from the U.S. Bankruptcy
Court for the Northern District of New York to hire North East
Appraisals & Management Co. Inc.

The firm will provide appraisal services in connection with tax
certiorari proceedings against the City of Plattsburgh, New York.
North East Appraisals is also tasked to prepare an appraisal of the
company's property located at 59 Broad Street, Plattsburgh.

North East Appraisals will receive a fee of $9,400, of which $4,700
will be paid in advance as a retainer.  The balance of the fee will
be paid upon delivery of a final report, according to court
filings.

The firm is a disinterested party as defined under section 101(14)
of the Bankruptcy Code, according to an affidavit by North East
Appraisals President Kenneth Gardner II.  

                     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,
disclosing $32.06 million in liabilities.  The case is assigned to
Judge Robert E. Littlefield Jr.

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

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


PRESSURE BIOSCIENCES: Exceeds $5 Million PIPE Goal
--------------------------------------------------
Pressure BioSciences, Inc., has exceeded its $5 million PIPE goal
following the receipt of $255,000 in gross proceeds from the fifth
closing of its $5 million Private Placement.  This closing
increased the total amount raised in the Offering to $5,010,000.

Since the terms of the Offering limit the amount that can be raised
to $5 million, the Company has approved the opening of the $1.25
million over-subscription amount, which has increased the capacity
of the PIPE to a maximum of $6.25 million.

Pursuant to the Subscription Agreement, the Company will issue to
the investors, senior secured convertible debentures with a fixed
conversion price of $0.28 per restricted common share, and common
stock purchase warrants exercisable into a total of 455,357 shares
of restricted common stock at an exercise price of $0.40 per share.
The Company is under no obligation to file a registration
statement to register the shares underlying the Debentures and
Warrants.

Mr. Richard T. Schumacher, president and CEO of PBI, commented:
"The vast majority of funds raised to date have been used to
eliminate 100% of the Company's variable rate (floorless)
convertible debt.  With our significantly improved balance sheet
now in hand, all funds received from the over-subscription amount
will be used to support operating activities.  With ramping sales,
new and further improved product offerings, the planned expansion
of our sales and marketing capabilities, and the expected
announcement of a world-class, formidable, multi-national
co-marketing partner, we believe we will achieve operational and
financial growth levels in 2016 that will surpass any previous
year, including our record shattering 2015 performance."

                  About Pressure Biosciences

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

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

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

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


PRESSURE BIOSCIENCES: Iliad Research Does Not Own Common Shares
---------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Iliad Research and Trading, LP, Iliad Management, LLC,
Fife Trading, Inc., and John M. Fife disclosed that as of Jan. 15,
2016, they do not own shares of common stock, $0.01 par value per
share, of Pressure Biosciences, Inc.  A copy of the regulatory
filing is available at http://is.gd/ICyujq

                    About Pressure Biosciences

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

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

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

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


PROGRESSIVE WASTE: Moody's Puts Ba1 CFR on Review for Upgrade
-------------------------------------------------------------
Moody's Investors Service placed Progressive Waste Solutions Ltd.'s
Ba1 corporate family rating, Ba1-PD probability of default rating,
and Ba1 rating on its secured credit facilities on review for
possible upgrade following the company's announced all-stock merger
with Waste Connections Inc. (unrated), a provider of integrated
solid waste services in the US.  Progressive will be the surviving
entity.

The review for possible upgrade was prompted by the likelihood that
Progressive's credit profile will improve once it merges with Waste
Connections, particularly its scale and diversity.  Moody's
considers the transaction to be leverage-neutral to Progressive
(pro forma adjusted Debt/EBITDA around 3x) while it will provide
the company with a strong #3 position in the US solid waste market,
behind industry leader, Waste Management Inc. (Baa2 stable) and #2
player, Republic Services Inc. (Baa3 stable).  The combined
company's revenue will double to over $4 billion, and business
diversity will be enhanced.  Progressive's shareholders will own
about 30% of the combined company while Waste Connection
shareholders will own the remaining 70% and control the Board.  The
transaction is expected to close in the second quarter of 2016.

On Review for Upgrade:

  Corporate Family Rating, currently Ba1
  Probability of Default Rating, currently Ba1-PD
  $1.85 billion secured revolving credit facility due June 2020,
   currently Ba1 (LGD3)
  $500 million secured term loan A due June 2020, currently Ba1
   (LGD3)

Outlook Action:

Changed To Rating Under Review From Stable

RATINGS RATIONALE

The review for possible upgrade will focus on: 1) the business and
financial strategy of Waste Connections' management, who will
manage Progressive after the merger 2) the change of control put in
Progressive's existing bank debt and the merged company's planned
future debt structure, 3) the likelihood that Progressive's debt
will become unsecured shortly after a possible investment grade
rating, 4) integration risks, and 5) potential synergies.

The principal methodology used in these ratings was Environmental
Services and Waste Management Companies published in June 2014.

Progressive Waste Solutions Ltd. provides vertically integrated
non-hazardous solid waste services to commercial, industrial,
municipal and residential customers in Canada, the US South and the
US Northeast.  Progressive is headquartered in Toronto.



PSL NORTH AMERICA: Wins Confirmation of Chapter 11 Plan
-------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge confirmed the Chapter 11 plan for the estate of
pipe manufacturer PSL North America LLC on Jan. 12, 2016, beginning
the end of a case that included a sale to Jindal Tubular USA valued
at $104 million with the buyer assuming liabilities connected to
Hurricane Katrina redevelopment bonds.

During a hearing in Wilmington, U.S. Bankruptcy Judge Laurie Selber
Silverstein said she would approve the plan.

                      About PSL-North America

Founded in 2006, PSL-North America LLC is a manufacturer and coater
of large diameter steel pipes.  The company has a state-of-the-art
facility located in Bay St. Louis, Mississippi with the land leased
for 99 years.  The company is an American-based partially owned
subsidiary of India's largest producer and manufacturer of steel
piping, PSL Limited.

On June 16, 2014, PSL-North America LLC and PSL USA Inc. filed
voluntary petitions in Delaware (Lead Case No. 14-11477) seeking
relief under chapter 11 of the United States Bankruptcy Code.  The
Debtors' cases have been assigned to Judge Peter J. Walsh.

The Debtors seek to have their cases jointly administered for
procedural purposes.

PSL-North America LL disclosed $93.3 million in assets and $204
million in liabilities as of the Chapter 11 filing.  As of the
Petition Date, the company had total outstanding debt obligations
of $130 million, according to a court filing.

Counsel for the Debtor are John H. Knight, Esq., Paul N. Heath,
Esq., Tyler D. Semmelman, Esq., Amanda R. Steele, Esq. and William
A. Romanowicz, Esq. at Richards, Layton & Finger, P.A., of
Wilmington, Delaware.  Epiq Bankruptcy Solutions serves as claims
agent.

                           *     *     *

The Debtors scheduled an auction for the assets on Aug. 12, 2014.
At the end of August 2014, the bankruptcy judge authorized the
Debtors to sell substantially all their assets to Jindal Tubular
USA LLC for $104 million.


PT HOLDCO: Chapter 15 Case Summary
----------------------------------
Chapter 15 Petitioner: FTI Consulting Canada Inc., in its capacity
    
                       as monitor

Chapter 15 Debtors:

      PT Holdco, Inc.                         16-10131
      5343 Dundas Street West
      Suite 400
      Toronto, ON, Canda

      PTUS, Inc.                              16-10132

      Primus Telecommunications Inc.          16-10133

      Lingo, Inc.                             16-10134

      Primus Telecommunications Canada Inc.   16-10135

Type of Business: Reseller of a wide selection of residential and
                  business telecommunications services (with the
                  exception of wireless phone services).

Chapter 15 Petition Date: January 19, 2016

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

Chapter 15 Petitioner's     Rafael Xavier Zahralddin-Aravena, Esq.
Counsel:                    Shelley A. Kinsella, Esq.
                            Kate Harmon, Esq.
                            ELLIOTT GREENLEAF, P.C.
                            1105 North Market Street, Suite 1700
                            P.O. Box 2327
                            Wilmington, DE 19801
                            Tel: 302-384-9400
                            Fax: 302-384-9399
                            Email: rxza@elliottgreenleaf.com
                                   sak@elliottgreenleaf.com
                                   khh@elliottgreenleaf.com

Estimated Assets: $145,147,981 as of Nov. 30, 2015

Estimated Debts: $100,972,326 as of Nov. 30, 2015


PT HOLDCO: Monitor Seeks Temporary Restraining Order
----------------------------------------------------
FTI Consulting Canada Inc., the court appointed monitor and duly
authorized foreign representative for PT Holdco, Inc., PTUS, Inc.
Primus Telecommunications, Inc., Lingo, Inc., and Primus
Telecommunications Canada Inc., seeks entry of a temporary
restraining order staying execution against the assets of the
Debtors in the United States and staying any and all actions or
proceedings against the Debtors and their assets located in the
United States.

According to the Monitor, these cases have been commenced for the
purpose of obtaining the assistance of the Bankruptcy Court in aid
of the Canadian Proceeding to facilitate the conduct of a single,
centralized, and efficient restructuring process for the Debtors.
The Monitor believes that a stay of proceedings against the
Debtors' assets located in the United States, as well as the
provisional application of Sections 362 and 365 of the Bankruptcy
Code, is crucial to preserve key contracts and prevent any
creditors of the Debtors from pursuing remedies and taking other
action thay may have a cascading and devastating effect and result
in significant erosion in enterprise value to the detriment of all
stakeholders.

                   Sale to Birch Communications

The Debtors have entered into a support agreement with their senior
secured lenders, after multiple defaults and extreme financial
difficulties, which requires them to agree to a sale and investor
solicitation process to sell the assets of the Debtors on a going
concern basis.  The agreement requires the lenders to forbear on
any action to recover their security as creditors and support the
sale process.

The Debtors have engaged in a marketing process, guided by
milestones in the support agreement, which have been extended by
their lenders to enter into a binding agreement with a purchaser by
Jan. 19, 2016, and close on the sale by Feb. 29, 2016.

Birch Communications Inc. is the successful bidder and purchaser
resulting from the Debtors' marketing process.  Application for
Initial Order was a prerequisite of the asset purchase agreement
betwen Birch Communications Inc. and the Debtors.  The Debtors
expect to return to the Ontario Superior Court of Justice during
the week of Feb. 15, 2016, to seek approval of the APA and invest
all of the assets under the APA in the purchaser, free and clear of
all liens and encumbrances and to assume and assign contracts.  The
Debtors assert that without the sale to Birch Communications Inc.,
they won't have the assets to meet their obligations under their
secured credit agreements, much less to meet obligations to other
creditors.

                         About PT Holdco

PT Holdco, Inc., et al., filed Chapter 15 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10131 to 16-10135) on Jan. 19, 2016.
FTI Consulting Canada Inc., signed the petition in its capacity as
Monitor.  Elliott Greenleaf, P.C. represents the Monitor as
counsel.

The Primus Entities re-sell a wide selection of residential and
business telecommunications services (with the exception of
wireless phone services).

As of Dec. 9, 2015, the Primus Entities employed approximately 500
people in Canada and 28 in the United States.

As of Nov. 30, 2015, the Primus Entities had a net book value of
approximately $145,147,981 in assets and consolidated liabilities
totaling $100,972,326.


PT HOLDCO: Monitor Wants Chapter 15 Cases Jointly Administered
--------------------------------------------------------------
FTI Consulting Canada Inc., the court appointed monitor and duly
authorized foreign representative for PT Holdco, Inc., PTUS, Inc.,
Primus Telecommunications, Inc., Lingo, Inc., and Primus
Telecommunications Canada Inc., asks the Bankruptcy Court to enter
an order directing the joint administration of the Chapter 15 cases
of the Debtors under the case of "PT Holdco, Inc.," Case No.
16-10131.

"Given the integrated nature of the Debtors' operations, joint
administration of these chapter 15 cases will provide significant
administrative convenience without harming the substantive rights
of any party in interest," the Monitor said.  "Many of the
motions, hearings, and orders that will arise in these chapter 15
cases will affect each of the Debtors.  The entry of an order
directing joint administration of these chapter 15 cases will
reduce fees and costs by avoiding duplicative filings and
objections," he added.

According to the Monitor, joint administration also will allow the
Office of the United States Trustee for the District of Delaware
and all parties-in-interest to monitor these Chapter 15 cases with
greater ease and efficiency.

                          About PT Holdco

PT Holdco, Inc., et al., filed Chapter 15 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10131 to 16-10135) on Jan. 19, 2016.
FTI Consulting Canada Inc., signed the petition in its capacity as
Monitor.  Elliott Greenleaf, P.C. represents the Monitor as
counsel.

The Primus Entities re-sell a wide selection of residential and
business telecommunications services (with the exception of
wireless phone services).

As of Dec. 9, 2015, the Primus Entities employed approximately 500
people in Canada and 28 in the United States.

As of Nov. 30, 2015, the Primus Entities had a net book value of
approximately $145,147,981 in assets and consolidated liabilities
totaling $100,972,326.


PT HOLDCO: Seeking US Recognition of CCAA Proceeding
----------------------------------------------------
FTI Consulting Canada Inc., the court-appointed monitor and duly
authorized foreign representative for Primus Telecommunications
Canada Inc., Primus Telecommunications, Inc., Lingo, Inc., PT
Holdco, Inc., and PTUS, Inc., in the Canadian insolvency
proceedings pending in Toronto, Canada before the Ontario Superior
Court of Justice (Commercial List), filed a Chapter 15 bankruptcy
petition in the U.S. Bankruptcy Court for the District of
Delaware.

FTI was appointed as Monitor of the Debtors pursuant to the
provisions of Canada's Companies' Creditors Arrangement Act, R.S.C.
1985, c., C-36, the insolvency statute under which the Debtors have
been granted relief from creditors.

Nigel D. Meakin, senior managing director of FTI, said the Primus
Entities have been experiencing and continue to experience severe
strains on their cash flow as a result of, among other things,
declining revenues, the customer base transitioning to lower profit
margin services and over-leverage.  According to Mr. Meakin, the
Primus Entities' significant fixed costs have hindered their
ability to quickly and adequately respond to such revenue
declines.

As a result, the Primus Entities' earnings before interest, taxes,
depreciation and amortization (EBITDA) and net operating profit
have deteriorated over the last three years, and continue to
deteriorate.  Mr. Meakin maintained that while EBITDA has
stabilized over the last seven months due to cost management and
reduced marketing activities, this level of EBITDA is insufficient
to meet obligations under the Debtors' secured credit agreements.

The Primus Entities reported a net loss of $830,000 in FY 2014, and
forecasted a net loss of $13,078,000 for FY 2015.

The Debtors have entered into a support agreement with their senior
secured lenders, after multiple defaults and extreme financial
difficulties, which requires them to agree to a sale and investor
solicitation process to sell the assets of the Debtors on a going
concern basis.  The agreement requires the lenders to forbear on
any action to recover their security as creditors and support the
sale process.

                     The Canadian Proceeding

On Jan. 18, 2016, the Boards of the Debtors authorized the CCAA
filing to implement sales of the Debtors' assets for the benefit of
their stakeholders.

On Jan. 19, 2016, an order was entered in the Canadian Proceeding
appointing FTI as Monitor and authorized Foreign Representative for
the Debtors.  The Initial CCAA Order specifically contemplates the
institution of these Chapter 15 proceedings by the Foreign
Representative.  The Foreign Representative is seeking recognition
of the Initial CCAA Order under Chapter 15 of the Bankruptcy Code.

"Recognition of the Canadian Proceeding under Chapter 15 of the
Bankruptcy Code and provisional relief pending a final recognition
hearing will best assure an economical and equitable administration
of the Debtors' foreign estate," Mr. Meakin related.  "If
injunctive relief is not granted, the Debtors' creditors are likely
to take actions that would disrupt the orderly administration of
the Debtors' estates, leading to conflict between the United States
and the Canadian Court and, at a minimum, overly burden the sale
process," he continued.

Mr. Meakin further said that the relief is necessary as there is a
material risk that parties in the United States will take steps
that will cause harm to the Debtors' ability to complete a sale of
the Primus Entities' business and assets for the benefit of all of
the Debtors' creditors.  The Chapter 15 proceedings are intended to
stabilize the business and prevent termination of agreements in
order for me to perform my court-appointed duties to complete the
contemplated sale transaction, he added.

                        About PT Holdco

PT Holdco, Inc., et al., filed Chapter 15 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10131 to 16-10135) on Jan. 19, 2016.
FTI Consulting Canada Inc., signed the petition in its capacity as
Monitor.  Elliott Greenleaf, P.C. represents the Monitor as
counsel.

The Primus Entities re-sell a wide selection of residential and
business telecommunications services (with the exception of
wireless phone services).

As of Dec. 9, 2015, the Primus Entities employed approximately 500
people in Canada and 28 in the United States.

As of Nov. 30, 2015, the Primus Entities had a net book value of
approximately $145,147,981 in assets and consolidated liabilities
totaling $100,972,326.


QUIKSILVER INC: Exit Financing Increased from $120M to $140M
------------------------------------------------------------
Cara Salvatore at Bankruptcy Law360 reported that Quiksilver Inc.'s
bankruptcy plan, if confirmed, will give the iconic surf-bum
clothier an extra $20 million in exit financing, according to court
filings, as it looks ahead to a mediation with its unsecured
creditors' committee and lender Oaktree Capital Management LP,
which is set to garner a controlling stake in the company.

Exit financing has increased from $120 million to $140 million,
according to a supplement to the bankruptcy plan filed on Jan. 7.

                       About Quiksilver Inc.

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

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

The Debtors' First Amended Joint Chapter 11 Plan of Reorganization

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

The U.S. trustee overseeing the Chapter 11 cases of Quiksilver
Inc. and its affiliates appointed seven members to the official
committee of unsecured creditors.  The Committee tapped Akin Gump
Strauss Hauer & Feld LLP, and Pepper Hamilton LLP as its
co-counsel as co-counsel; Province Inc. as its financial advisor
and PJT Partners Inc. as investment banker.


RLJ ENTERTAINMENT: Receives NASDAQ Listing Non-Compliance Notice
----------------------------------------------------------------
RLJ Entertainment Inc. on Jan. 15 disclosed that it received a
letter from The NASDAQ Stock Market LLC stating that the bid price
of the Company's common stock for the last 30 consecutive business
days had closed below the minimum $1.00 per share required for
continued listing under Listing Rule 5550(a)(2).

The NASDAQ notification letter does not result in any immediate
disruption of the Company's common stock trading, and the stock
will continue to fully trade uninterrupted on The NASDAQ Capital
Market under the symbol "RLJE."

RLJ Entertainment has been provided an automatic grace period of
180-calendar days, or until July 11, 2016, to regain compliance.
If at any time during the 180-day grace period, the minimum closing
bid price per share of the Company's common stock closes at or
above $1.00 for a minimum of ten consecutive business days (the
NASDAQ Staff has the discretion to monitor the stock price for up
to 20 trading days), RLJE would regain compliance.  In the event
the Company does not regain compliance within this grace period, it
may be eligible to receive an additional 180-day grace period,
provided that RLJ Entertainment meets the continued listing
requirement for market value of publicly held shares and all other
initial listing standards for The NASDAQ Capital Market, with the
exception of the minimum bid price requirement, and provides
written notice of its intention to cure the minimum bid price
deficiency during the second 180-day grace period.  In the event
the Company is not able to regain compliance by the end of the
applicable grace period, the Company's securities would be subject
to delisting.

RLJ Entertainment is considering, among other things, the
advisability of effecting a reverse stock split in accordance with
the authority conferred by the shareholders at the special meeting
held on December 4, 2015.

                    About RLJ Entertainment

RLJ Entertainment, Inc. is an independent owner, developer,
licensee, and distributor of entertainment content and programming
in primarily North America, the United Kingdom, and Australia.


SABINE OIL: Fights Creditors' Bid to Sue Over Forest Merger
-----------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Sabine Oil &
Gas Corp. on Jan. 13, 2016, attacked its creditors' attempt to
unilaterally bring litigation over the company's 2014 merger with
Forest Oil, telling a New York bankruptcy judge that doing so would
undermine the company's attempt to get support from financial
stakeholders on a restructuring plan.

Sabine is opposing a motion that would give its official committee
of unsecured creditors derivative standing to bring litigation over
several matters tied to the bankruptcy, including the company's
2014 merger with Forest Oil Corp.

                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 OKs Indemnity Agreement with JPMorgan
-------------------------------------------------------------
Samson Resources Corporation, et al., sought and obtained approval
from Judge Christopher S. Sontchi of the United States Bankruptcy
Court for the District of Delaware of an indemnity agreement with
JPMorgan Chase Bank, N.A., regarding the return of funds that were
the subject of a data breach and theft discussed on the record at
the hearing held on December 8, 2015.

The Debtor told the Court that an outside party gained access to
Debtor Samson Investment Company's email system on November 17,
2015, and used an executive's email account to send instructions
for the Debtor to wire approximately $1.78 million to a third party
bank account maintained at Regions Bank.  The Debtors discovered
the fraud shortly after their treasury department wired the funds
and immediately sought to reverse the wire.

Upon discovering this fraud, the Debtors contacted the appropriate
authorities, as well as their auditor and insurance carrier and key
parties in these chapter 11 cases including the first and second
lien agents, creditors' committee, and United States Trustee.
According to the Debtor, an independent investigation is being
conducted under the direction of the audit committee and that the
Debtors expect that the investigation will be concluded, and a
report summarizing its findings finalized.

In addition, the Debtor discussed that their depository bank,
JPMorgan Chase, and the wire destination bank, Regions Bank, have
been able to locate and hold in suspense the majority of the wired
funds -- $1,460,853 -- to be returned to the Debtors.  As a
condition to the funds' return, JPMorgan Chase requires Samson
Investment Company to execute the Indemnity Agreement.

Pursuant to the Agreement, JPMorgan Chase agrees to comply with the
request to recover the funds and credit any recovered funds to the
Debtor's account, and, in exchange, the Debtor agrees to indemnify,
release, and hold harmless JPMorgan Chase from and against any and
all claims, costs, including reasonable attorneys' fees, and
consequential damages that arise from the wire transfer.  Under the
indemnity, JPMorgan Chase may elect to pay Regions Bank and recover
any such payment from Samson Investment Company or setoff the
amount of any payment from Samson Investment Company's deposit
accounts.

Deeded landowners of mineral rights and securities, known as the
Undivided Fractional interests of oil gas minerals, Lloyd Odell
Ness, protested against the Debtors' Motion, contending that the
Emergency Indemnification Agreement is unnecessary and is
unwarranted as it involves the handling and the distributive
actions of the Estate funds.  Moreover, the theft and malfeasance
is yet to be discovered, and obstruction, or the evasive efforts of
emergency agreements are unwarranted, complained the Securities
Owners.

Samson Resources Corporation is represented by:

          Domenic E. Pacitti, Esq.
          Michael W. Yurkewicz, Esq.
          KLEHR HARRISON HARVEY BRANZBURG LLP
          919 N. Market Street, Suite 1000
          Wilmington, DE 19801
          Telephone: (302)426-1189
          Facsimile: (302) 426-9193
          E-mail: dpacitti@klehr.com
                  myurkewicz@klehr.com

          -- and --

          Morton Branzburg, Esq.
          KLEHR HARRISON HARVEY BRANZBURG LLP
          1835 Market Street, Suite 1400
          Philadelphia, PA 19103
          Telephone: (215)569-2700
          Facsimile: (215)568-6603
          E-mail: mbranzburg@klehr.com

          -- and --

          Paul M. Basta, Esq.
          Edward O. Sassower, Esq.
          Joshua A. Sussberg, Esq.
          Ryan J. Dattilo, Esq.
          KIRKLAND & ELLIS LLP
          601 Lexington Avenue
          New York, NY 10022
          Telephone: (212)446-4800
          Facsimile: (212)446-4900
          E-mail: paul.basta@kirkland.com
                  edward.sassower@kirkland.com
                  joshua.sussberg@kirkland.com
                  ryan.dattilo@kirkland.com

          -- and --

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

Securities Owners are represented by:

          Lloyd Odell Ness
          Mary Patricia Ness
          Securities Owner Propria Person
          P.O. Box 1491
          60 Rosales Court
          Tubac, Arizona 85646
          Telephone: (402) 613-7372
          Email: lloydness52@me.com
                
                              About Samson Resources Corporation

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 E. WYLY: Says IRS Should "Put Up or Shut Up" on $2B Claim
----------------------------------------------------------------
Tom Korosec and Erik Larson, writing for Bloomberg Brief - Distress
& Bankruptcy, reported that former billionaire entrepreneur Samuel
Wyly told a federal judge that he filed for bankruptcy to avoid
burdening his children with a $2 billion claim by the Internal
Revenue Service.

According to the report, Wyly, 81, said the agency's demand for
back taxes and penalties was too much to bear on top of a demand
for hundreds of millions of dollars by the U.S. Securities and
Exchange Commission, which won a fraud trial against him and his
late brother Charles Wyly.

Wyly, who helped build Michaels Stores Inc., is challenging the
validity of the IRS claim, having asked a Dallas bankruptcy court
to throw it out, the report related.  He was joined by Charles's
estate, which has $1 billion at stake in the fight, the report
further related.  The dispute hinges on the brothers' decades-long
use of offshore trusts, the report said.

                         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).


SEPCO CORPORATION: Files for Chapter 11 Bankruptcy Protection
-------------------------------------------------------------
Aurora, Ohio-based Sepco Corporation filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ohio. Case No. 16-50058) on Jan. 14, 2016.

The Company has not been engaged in any active manufacturing or
sales activities since January 1995.  Prior to its bankruptcy
filing, the Debtor has been named as a defendant in a substantial
number of personal injury and wrongful death claims allegedly based
on asbestos-containing products that the Debtor had sold.  The vast
majority of those claims allegedly arose from the Debtor's sale
until approximately 1984 of certain asbestos-containing packing and
gasket products and its sale until approximately 1992 of certain
asbestos-containing spiral-would or semi-metallic gaskets.

Asbestos PI Claims were first brought against the Debtor beginning
in the late 1970s.  Following the bankruptcies of companies that
had been major suppliers of asbestos and asbestos-containing
products, litigants increasingly pursued claims against
second-and-third-tier suppliers of products that had any asbestos
content, including the Debtor.

As of the Petition Date, the Debtor has approximately 4,816 open
and pending Asbestos PI Claims.  In addition, approximately 32,238
Asbestos PI Claims are technically pending against the Debtor but
are deemed inactive either as a matter of state of law (for lack of
a manifested injury, or otherwise) or because they have been
dormant.

The Debtor relates that the cumulative cost of defending and
resolving Asbestos PI Claims asserted against it has been
substantial.  In addition, the Debtor maintains, the amount of
insurance coverage remaining to it has declined over time, and
certain of its other insurers have refused to pay bills rendered by
the Debtor under policies that they issued.  These events have
placed significant pressure on the Debtor's ability to manage its
liabilities.

In light of these circumstances, the Debtor determined that it was
necessary to commence a case under Chapter 11 of the Bankruptcy
Code to preserve its remaining assets and to confirm a plan of
reorganization that would provide for an equitable distribution of
those assets to persons holding meritorious Asbestos PI and other
Claims and any other creditors.

The Debtor estimated both assets and liabilities in the range of
$10 million to $50 million.  

Buckley King, LPA represents the Debtor as counsel.  

The case has been assigned to Judge Alan M. Koschik.


SEPCO CORPORATION: Hires Buckley King as Bankruptcy Counsel
-----------------------------------------------------------
Sepco Corporation seeks authority from the Bankruptcy Court to
employ Buckley King LPA as its counsel to:

   (a) advise the Debtor of its rights, powers and duties as    
       debtor and debtor-in-possession in the continued operation
       of its business;

   (b) advise the Debtor concerning, and assist in, negotiation
       and documentation of, among other things, transactions
       incident to its bankruptcy case;

   (c) review the nature and validity of agreements related to the

       Debtor or its assets, and advise the Debtor in connection
       with those matters;

   (d) review the nature and validity of agreements related to the

       Debtor or its assets, and advise the Debtor in connection
       with those matters;

   (e) advise the Debtor concerning actions that it might take to
       collect and recover property for the benefit of the
       Debtor's estate and creditors, potentially including
       disputed insurance coverage;

   (f) prepare, on behalf of the Debtor, all necessary and
       appropriate applications, motions, pleadings, draft orders,

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

   (g) review with the Debtor the lawsuits that are pending
       against the Debtor, including claims for alleged personal
       injury or wrongful death against the Debtor due to alleged
       exposure to asbestos or asbestos-containing materials or
       products;

   (h) advise the Debtor concerning, and prepare responses to,
       those applications, motions, pleadings, notices and other
       papers which may be filed and served in connection with its

       Chapter 11 case;

   (i) counsel the Debtor in connection with the formulation,
       negotiation and promulgation of a Chapter 11 plan of
       reorganization or liquidation and related documents;

   (j) advise and assist the Debtor in connection with creating
       suitable arrangements for the treatment and disposition of
       claims and demands against the Debtor and its estate; and

   (k) perform all other legal services for and on behalf of the
       Debtor which may be necessary or appropriate in the
       administration of its Chapter 11 case and assets.

The Debtor agrees to pay Buckley King for its legal services on an
hourly basis in accordance with its ordinary and customary hourly
rates.

To the best of the Debtor's knowledge, Buckley King does not
represent and does not hold any interest adverse to its estate, its
creditors or equity security holders in matters upon which Buckley
King is to be engaged, and is a "disinterested person" within the
meaning of Section 101(14) of the Bankruptcy Code.

                     About Sepco Corporation

Aurora, Ohio-based Sepco Corporation filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ohio. Case No. 16-50058) on Jan. 14, 2016.
The petition was signed by Richard J. Szekelyi as chief
restructuring officer.  The Debtor estimated both assets and
liabilities in the range of $10 million to $50 million.  Buckley
King, LPA represents the Debtor as counsel.  The case has been
assigned to Judge Alan M. Koschik.


SEPCO CORPORATION: Proposes PMCM LLC as Financial Advisor
---------------------------------------------------------
Sepco Corporation seeks authority from the Bankruptcy Court to
employ PMCM LLC, an affiliate of Phoenix Management Services, LLC,
as its financial advisors.

The Debtor originally engaged PMCM in August 2014 to assist it in
its financial affairs, and proposes to engage PMCM for purposes of
this Chapter 11 case on substantially the same terms and
conditions.

PMCM has authorized, and the Debtor has retained, Mr. Richard
Szekelyi, a managing director of PMCM, to serve as the Debtor's
chief restructuring officer.  Mr. Michael Jacoby, a senior managing
director of PMCM, will serve as oversight partner and, to the
extent necessary to secure D&O insurance coverage, serve as deputy
CRO.

The Debtor seeks to employ PMCM to:

   (a) assist with the preparation of various schedules
       required as part of the Debtor's Chapter 11 case;

   (b) assist the Debtor's counsel with any information
       requirements and analysis to support the bankruptcy filing;

   (c) prepare the books of accounts in a manner to properly
       distinguish post-petition activity from pre-petition
       activity;

   (d) assist with post-petition information requirements,
       including development of monthly operating reports and
       other information or analysis;

   (e) prepare budgets and variance reports required during the
       bankruptcy case;

   (f) perform cash management duties as generally requested by
       the Debtor;

   (g) assist in the communication and response to requests by any
       official committee that may be appointed in the case, and
       other constituents;

   (h) provide testimony on behalf of the Debtor in
       connection with matters arising from, or related to, the
       case;

   (i) assist the Debtor's counsel with the preparation,
       execution, delivery and filing of the plan of    
       reorganization or liquidation and disclosure statement; and

   (j) perform other duties as may be mutually agreed.

PMCM will charge the Debtor for its consulting services on an
hourly basis in accordance with its ordinary and customary
hourly rates in effect on the date services are rendered and for
the firm's out of pocket disbursements incurred in connection
therewith.  The PMCM professional who will provide the majority of
the services to be rendered to the Debtor by PMCM is Richard
Szekelyi and his hourly rate is $455.  Other PMCM personnel will be
used on this engagement as their particular skills are required.
PMCM bills one half of its standard billing rates for time incurred
by its professionals for travel outside of Cleveland, Ohio.

PMCM has requested a pre-petition retainer from the Debtor in the
amount of $50,000.  The Debtor understands that the Deposit will
not be applied or credited to amounts due from the Debtor but will
be returned to the Debtor once all amounts due to PMCM are paid in
full, subject to a holdback to fund any indemnification claims.

The Debtor believes that PMCM and its professionals do not hold or
represent any interest adverse to it, its estate, or its creditors
or equity security holders with respect to the matters on which it
seeks to be employed, and that PMCM is a "disinterested person"
within the meaning of Section 101(14) of the Bankruptcy Code.

                     About Sepco Corporation

Aurora, Ohio-based Sepco Corporation filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ohio. Case No. 16-50058) on Jan. 14, 2016.
The petition was signed by Richard J. Szekelyi as chief
restructuring officer.  The Debtor estimated both assets and
liabilities in the range of $10 million to $50 million.  Buckley
King, LPA represents the Debtor as counsel.  The case has been
assigned to Judge Alan M. Koschik.


SEPCO CORPORATION: Seeks OK to File Largest Asbestos PI Law Firms
-----------------------------------------------------------------
Sepco Corporation seeks authority from the Bankruptcy Court to (i)
file a list of the 35 law firms who represent the largest number of
asbestos personal injury claimants with open claims against it, in
lieu of a list of the asbestos personal injury claimants or other
persons holding the 20 largest unsecured claims, (ii) list
addresses of counsel for asbestos personal injury claimants in the
creditor matrix and in its Schedules of Assets and Liabilities, in
lieu of claimants' addresses, (iii) set certain notice procedures
for asbestos personal injury claimants.

The Debtor relates that its primary creditors are claimants in
asbestos-related personal injury lawsuits.  As a result, the Debtor
anticipates that, at the inception of this case, the UST will
appoint an official committee of unsecured creditors that will
consist largely if not entirely of plaintiff law firms that
represent asbestos personal injury claimants.

The Debtor does not believe that listing the individual asbestos
claimants with the largest unsecured claims against it would
facilitate the UST's appointment of an official committee. Instead,
because such a committee typically consists of asbestos plaintiff
firms, the Debtor believes that providing the UST with a list of
the 35 law firms with the largest number of open asbestos cases
against the Debtor would better assist the UST in forming such a
committee.

According to the Debtor, there are approximately 141 law firms
that, in the aggregate, represent substantially all of the
persons with open Asbestos Claims against it.  The 35 plaintiff
firms who represent the largest numbers of Asbestos Claimants
account for more than 90% of the open cases and each, individually,
represents more than 20 Asbestos Claimants with open claims.

       Listing of Asbestos Claimants in the Debtor's Schedules

The Debtor seeks authority to list the individual Asbestos
Claimants in its Schedules by setting forth each individual's name,
followed by the mailing address for that individual's counsel of
record in the respective lawsuit against the Debtor.

              The Asbestos Claimant Notice Procedures

The Debtor tells the Court that certain information, especially the
addresses for each of the Asbestos Claimants, is not readily
available to it.  Instead, the Debtor's address information is
limited to the address of counsel of record for the Asbestos
Claimants, because all communications regarding the asbestos claims
and the various pending lawsuits have been through and with such
counsel.

While preparing for filing this Chapter 11 case, the Debtor
ascertained that it could not reasonably obtain the actual
addresses of all Asbestos Claimants.  

"Acquiring address information for the Asbestos Claimants
themselves would require a massive manual review of the actual
hard-copy files maintained by various past and current counsel
representing the Debtor across the nation with respect to the
pending asbestos litigation matters, and a massive effort such as
that likely would not produce reliable address information for
large numbers of the Asbestos Claimants," said Harry W. Greenfield,
Esq.,a t Buckley King LPA, counsel for the Debtor.  

The Debtor seeks Court approval to: (a) list the Asbestos Claimants
in care of the addresses of the Asbestos Claimants' respective
counsel of record (i) in the Matrix filed with the Court and (ii)
in the Schedules, in lieu of listing individual Asbestos Claimants'
addresses; and (b) implement a procedure for serving required
notices, mailings, and other communications related to the Chapter
11 case on counsel for the Asbestos Claimants, for and on behalf of
the individual Asbestos Claimants.

Pursuant to this request, required notices, mailings, and
communications would be made by the Debtor, with the assistance of
Debtor's proposed claims noticing agent, Kurtzman Carlson
Consultants LLC.

                   About Sepco Corporation

Aurora, Ohio-based Sepco Corporation filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ohio. Case No. 16-50058) on Jan. 14, 2016.
The petition was signed by Richard J. Szekelyi as chief
restructuring officer.  The Debtor estimated both assets and
liabilities in the range of $10 million to $50 million.  Buckley
King, LPA represents the Debtor as counsel.  The case has been
assigned to Judge Alan M. Koschik.


SEPCO CORPORATION: Seeks to Employ KCC as Claims & Noticing Agent
-----------------------------------------------------------------
Sepco Corporation seeks permission from the Bankruptcy Court to
employ Kurtzman Carson Consultants LLC as its notice, balloting,
and claims agent to relieve the Court and the Clerk's Office of the
heavy administrative and other burdens associated with the the
number of claimants and other parties-in-interest involved in its
Chapter 11 case.

In addition, KCC will assist the Debtor with, among other things:
(a) maintaining and updating the master mailing lists or creditors;
(b) gathering data in conjunction with the preparation of the
Debtor's Schedules and statement of financial affairs; (c) tracking
and administration of claim; and (d) performing other
administrative tasks pertaining to the administration of this
Chapter 11 case as may be requested by the Debtor, the Debtor's
professionals, or the Clerk's Office in accordance with the terms
of the KCC Agreement.

Prior to the Petition Date, the Debtor provided KCC with a retainer
in the amount of $50,000.  KCC seeks to apply the retainer to all
prepetition invoices, thereafter, to have the retainer replenished
to the original retainer amount, and thereafter, to hold the
retainer during this Chapter 11 case as security for the payment of
fees and expenses incurred under the KCC Agreement.

The Debtor requests that the fees and expenses KCC incurs in the
performance of the services be treated as an administrative expense
of the Debtor's Chapter 11 estate and be paid by the estate in the
ordinary course of business without further application to the
Court.

As part of the overall compensation to KCC under the terms of the
KCC Agreement, the Debtor has agreed to certain indemnification and
contribution obligations.  The KCC Agreement provides that the
Debtor will indemnify and hold harmless KCC, its officers,
employees, and agents under certain circumstances specified in the
KCC Agreement, except in circumstances of negligence or willful
misconduct.

KCC has represented that it neither holds nor represents an
interest materially adverse to the Debtor's estate in connection
with any matter on which it would be employed and that it is a
"disinterested person," as defined in the Bankruptcy Code.

                   About Sepco Corporation

Aurora, Ohio-based Sepco Corporation filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ohio. Case No. 16-50058) on Jan. 14, 2016.
The petition was signed by Richard J. Szekelyi as chief
restructuring officer.  The Debtor estimated both assets and
liabilities in the range of $10 million to $50 million.  Buckley
King, LPA represents the Debtor as counsel.  The case has been
assigned to Judge Alan M. Koschik.


SIMPLY FASHION: Judge Orders Return of Funds in 16 Banks
--------------------------------------------------------
A U.S. bankruptcy judge has ordered the return of funds deposited
in 16 banks to Simply Fashion Stores Ltd.

The order, issued by Judge Laurel Isicoff of the U.S. Bankruptcy
Court for the Southern District of Florida, directed the banks to
return a total of $112,147 as well as net bank fees to Simply
Fashion Stores.

Judge Isicoff also ordered the banks, which include BB&T and U.S.
Bank, to close all of the company's bank accounts.

Since July 1, 2015, the only activity in the bank accounts has been
the imposition and withdrawal of bank fees, the company said in
court filings.

                      About Simply Fashion

Owned by the Shah family, Simply Fashion has 247 stores in 25
states across the country in major markets such as Detroit, Miami,
New Orleans, St. Louis, Chicago, Atlanta, Baltimore, Nashville and
Dallas. Founded in 1991, Simply Fashion is primarily a brick and
mortar retailer of Junior, Plus and Super Plus women's fashion
catering to African-American women between the ages of 25 and 55,
with locations in 25 states.

Adinath Corp. is the general partner of Simply Fashion.  It is
owned 100% by Bhavana Shah.

On April 16, 2015, Adinath and Simply Fashion Stores, Ltd., each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code in Miami, Florida (Bankr. S.D. Fla.,
Case No. 15-16885).  The cases are under the Honorable Laurel M.
Isicoff.

The Debtors have tapped Berger Singerman LLP as counsel; Kapila
Mukamal, LLP, as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

Simply Fashion estimated $10 million to $50 million in assets and
debt.

The U.S. Trustee for Region 21 appointed five creditors to serve on
the official committee of unsecured creditors.


SMART TECHNOLOGIES: Receives Nasdaq Delisting Notice
----------------------------------------------------
SMART Technologies Inc. received a notice of delisting from the
Nasdaq Stock Market LLC indicating that SMART has failed to regain
compliance with Nasdaq's minimum bid price requirement of $1.00 per
share for continued listing of the Company's stock on the Nasdaq
Capital Market as set forth in Nasdaq Listing Rule 5450(a)(1).  The
Company intends to appeal this decision by requesting a hearing
before a Nasdaq Listing Qualifications Panel to review Nasdaq's
decision to delist the Company.  A hearing request by the Company
automatically postpones the delisting of the Company's securities
pending issuance of the Panel's decision.  The Company expects to
file its notice of appeal in the next 7 days, and to have a hearing
scheduled before the Nasdaq Listing Qualification Panel within 45
days of the date on which the Company files its appeal.

On July 21, 2015, the Company announced that it was advised by
Nasdaq that it was not in compliance with the minimum bid price
requirement set forth in the Nasdaq Rules for continued listing on
The Nasdaq Global Select Market.  The Company's shares were
transferred from the Nasdaq Global Select Market to the Nasdaq
Capital Market effective December 31, 2015.  Although the Nasdaq
Capital Market has less stringent continued listing requirements
than the Nasdaq Global Select Market, the Company's transfer to the
Nasdaq Capital Market did not relieve the Company of its
obligations to regain compliance by January 12, 2016 with the
minimum bid price requirements pursuant to Nasdaq Listing Rule
5450(a)(1).  The customary means for a company to regain compliance
with the minimum bid price requirements is a reverse stock split,
or share consolidation, an approach the Company is considering,
although no decision in that regard has yet been made.

The notice of delisting does not impact the listing of the
Company's shares on the Toronto Stock Exchange, where the shares
will continue to trade under the symbol "SMA."

                          About SMART

SMART Technologies Inc. (NASDAQ: SMT, TSX: SMA) --
http://www.smarttech.com-- is a provider of education and business
collaboration solutions.


SPIRE CORP: To Sell Sun Simulator Business to Eternal Sun
---------------------------------------------------------
Spire Corporation entered into an Asset Purchase Agreement with
Eternal Sun USA, LLC pursuant to which Buyer agreed to acquire
substantially all of the assets of the Company's Sun Simulator
technology line and assume certain liabilities associated with such
purchased assets as set forth in the Purchase Agreement.

The Transaction was entered into in connection with the Company's
continuing restructuring efforts, pursuant to which the Company
will focus on its retained turnkey manufacturing line business. The
aggregate purchase price for the Sun Simulator Business was $1.5
million plus the assumed liabilities.

The Purchase Agreement also includes a five-year commitment of the
Company not to compete with Buyer with respect to the Sun Simulator
Business (provided, however, that the Company may from time to time
sell certain simulator equipment as part of its retained business).
The Purchase Agreement also contains customary representations and
warranties, post-closing covenants and mutual indemnification
obligations for, among other things, inaccuracy or breach of any
representation or warranty in the Purchase Agreement and any breach
or non-fulfillment of any covenant contained in the Purchase
Agreement and related transaction agreements or certificates.

                            About Spire Corp

Bedford, Massachusetts-based Spire Corporation currently develops,
manufactures and markets customized turn-key solutions for the
solar industry, including individual pieces of manufacturing
equipment and full turn-key lines for cell and module production
and testing.

Spire Corporation reported a net loss of $8.52 million in 2013, as
compared with a net loss of $1.85 million in 2012.

McGladrey LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2013.  The independent auditors noted that
the Company incurred an operating loss from continuing operations
of $8.4 million and cash used in operating activities of
continuing operations was $5.2 million.  The Company's credit
agreement with a bank is due to expire on April 30, 2014.  These
factors raise substantial doubt about its ability to continue as a
going concern.


SPORTS AUTHORITY: Skips Interest Payment Amid Creditor Talks
------------------------------------------------------------
Jodi Xu Klein and Lauren Coleman-Lochner, writing for Bloomberg
Brief - Distress & Bankruptcy, reported that Sports Authority Inc.
skipped a $20 million interest payment on its bonds due on Friday
as the retailer continued talks with creditors about how to
restructure debt.

According to the report, the move follows several months of
deliberations with Sports Authority's financial adviser, Rothschild
& Co., the company said in an e-mailed statement.  It also has held
discussions with senior lenders about ways to strengthen the
retailer's balance sheet, Sports Authority said, the report further
related.

"Although Sports Authority currently has sufficient liquidity to
conduct its business operations and to make the current interest
payment on the subordinated mezzanine debt, after consultation with
our senior lenders we elected not to make the interest payment
while we continue these discussions," the report said, citing the
company.

The payment is the interest on its privately placed $343 million
subordinated notes maturing in 2018, the report related.  Without
reaching an agreement with the bondholders for a forbearance, the
company will be forced to file for bankruptcy as skipping a coupon
payment is considered a default, the report added.

                       *     *     *

The Troubled Company Reporter, on July 3, 2015, reported that
Moody's Investors Service affirmed The Sports Authority Inc.'s
ratings, including its Caa1 Corporate Family Rating, Caa1-PD
Probability of Default Rating and Caa1 on the company's $300
million senior secured term loan. Concurrently, Moody's changed
the
company's ratings outlook to stable from negative reflecting
improved liquidity due to the maturity extension of its
subordinated notes to February 19, 2018 from May 3, 2016. As a
result of the maturity extension, the maturity dates for Sports
Authority's ABL revolver and senior secured term loan will remain
May, 17, 2017 and November 16, 2017, respectively, and will not
accelerate to February 2, 2016.


ULTIMATE NUTRITION: FIFC to Finance Purchase of Insurance Policies
------------------------------------------------------------------
Ultimate Nutrition Inc. and ProStar Inc. received court approval to
enter into an insurance premium finance agreement with FIRST
Insurance Financing Corp.

Under the agreement, FIFC will provide financing to the companies
for the purchase of insurance policies necessary for the operation
of their business.

The total premium amount is $361,360 and the total amount to be
financed is $266,666, court filings show.

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

The order was issued by Judge Ann Nevins of the U.S. Bankruptcy
Court for the District of Connecticut.

                    About Ultimate Nutrition

Ultimate Nutrition, Inc. develops and distributes nutritional
supplements for body building, enhanced athletic performance and
fitness.  The products are sold worldwide in over 100 countries.
The business was founded in 1979 by the late Victor H. Rubino, one
of the top amateur power lifters in the United States at that time.
The company has two facilities located in Farmington, Connecticut,
one product distribution center in New Britain, Connecticut and a
research and development center in West Palm Beach, Florida.

Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter 11
bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402 and
14-22403) on Dec. 17, 2014. On Dec. 19, 2014, the Court entered an
order directing the joint administration of the Debtors' cases for
procedural purposes.

The Debtors have tapped Pullman & Comley, in Bridgeport,
Connecticut, as counsel; LaQuerre Michaud & Company, LLC, as
accountant; and Marcum LLP, as financial advisor.

Ultimate Nutrition disclosed $20,157,424 in assets and $19,885,142
in liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 2 appointed three creditors of to serve
on the official committee of unsecured creditors.  The Committee
has selected Lowenstein Sandler, LLP to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.
GlassRatner Advisory & Capital Group LLC, serves as its financial
advisor.


VERSO PAPER: Forgoes Term Loan and Notes Interest Payments
----------------------------------------------------------
NewPage Corporation, a wholly owned subsidiary of Verso
Corporation, and Verso Paper Holdings LLC, elected to exercise the
grace period with respect to the interest payment due under its
floating rate senior secured term loan credit agreement.  The
NewPage Term Loan Facility provides for a grace period of five
business days for the payment of interest.  As of Dec. 31, 2015,
the outstanding principal amount under the NewPage Term Loan
Facility was approximately $731 million.

On Jan. 15, 2016, Verso Holdings and its wholly owned subsidiary,
Verso Paper Inc., elected to exercise the grace periods with
respect to the interest payments due under their indentures
governing the 11.75% Senior Secured Notes due 2019 that were issued
in 2012 and 2015 and the 11.75% Secured Notes due 2019 that were
issued in 2012.  Each of the Verso Notes Indentures provides for a
grace period of 30 days for the payment of interest.  As of Dec.
31, 2015, the total outstanding principal amount under the Verso
Notes Indentures was approximately $1.339 billion.

While forgoing these interest payments, Verso said it continues to
explore various potential debt restructuring alternatives and to
have related discussions with certain of its creditor
constituencies in an effort to address its previously disclosed
cash flow and liquidity concerns.

                         About Verso

Verso is a North American producer of coated papers, including
coated groundwood and coated freesheet, and specialty products.
Verso is headquartered in Memphis, Tennessee, and owns three paper
mills located in Maine and Michigan.  Verso's paper products are
used primarily in media and marketing applications, including
magazines, catalogs and commercial printing applications such as
high-end advertising brochures, annual reports and direct-mail
advertising.  Additional information about Verso is available on
its Web site at http://www.versopaper.com/    

Verso Paper reported a net loss of $356 million on $1.29 billion
of net sales for the year ended Dec. 31, 2014, compared with a net
loss of $111 million on $1.38 billion of net sales in 2013.

As of Sept. 30, 2015, the Verso Holdings had $2.91 billion in total
assets, $3.89 billion in total liabilities and a total deficit of
$974 million.

                       *     *     *

The Troubled Company Reporter reported on Nov. 23, 2015, that
Moody's Investors Service downgraded Verso Paper Holdings LLC's
corporate family rating (CFR) to Caa2 from B3, changed the
probability of default rating (PDR) to Caa2-PD from B3-PD, and
assigned an SGL-4 liquidity rating.  Verso's Caa2 CFR reflects the
elevated risk of a default as the company explores potential
restructuring alternatives, the company's weak liquidity, high
leverage (projected adjusted leverage of about 7x) and the
expectation that the company will continue to face secular demand
declines and weak prices for most of the grades of coated paper it
produces.

As reported by the TCR on Nov. 19, 2015, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on Verso Paper
Holdings LLC to 'CCC-' from 'B-'.  The downgrade and negative
outlook follow Verso's recent announcement that it has engaged with
advisors and will pursue a capital restructuring of its debt and
potentially sell assets, including recently idled mills.


WEYLAND TECH: Raises Going Concern Doubt Amid Losses
----------------------------------------------------
Weyland Tech, Inc., experienced losses during fiscal year ended
December 31, 2014 amounting to $255,693, which raises substantial
doubt about its ability to continue as a going concern, according
to Brent Y. Suen, president and chief executive officer of the
company, in a regulatory filing with the U.S. Securities and
Exchange Commission on November 23, 2015.

"The ability of the company to meet its commitments as they become
payable is dependent on the ability of the company to obtain
necessary financing or achieving a profitable level of operations.
There are no assurances that the company will be successful in
achieving these goals."

Mr. Suen elaborated: "The company believes that it can continue to
receive revenues from its customers.  The company expects to
continue utilizing its cost structure by sourcing personnel in Asia
for servicing its customers.  In order to accelerate the growth of
the company, it will also consider raising additional funding from
investors.

"Our registered independent auditors for the year ended December
31, 2014 have issued a going concern opinion as per our most recent
Form 10-K and the company experienced losses during fiscal year
2014 amounting to $255,693.  This means that there is substantial
doubt that we can continue as an on-going business for the next 12
months unless we obtain additional capital or generate revenues to
pay our bills.  We believe that we can generate revenues as a
provider of e-commerce solutions and services.  Our other source
for cash at this time is investments by others in the company.  We
may need to raise cash to fully implement our projects and stay in
business.  

"On September 30, 2015, we had working capital of $1,098,671
compared with negative working capital of $213,768 on September ,
2015 The increase in working capital is due to the consolidation of
our subsidiary and our net profit for the period.  Operating
activities provided $41,038 in cash for operating expenses in the
three months ended September 30, 2015 as the operations were on
open account basis.  There was no movement in Investment activities
or Financing activities in the three months ended September 30,
2015.  

"We may not have enough working capital to complete our plan of
operations.  If it turns out that we have not raised enough capital
to complete our anticipated business development, we will try to
raise additional funds from private placements or loans.   There is
no assurance that we will raise additional capital in the future or
that future financings will be available to us on acceptable terms.
If we require additional capital and are unable to raise it, we
may have to suspend or cease operations."

At September 30, 2015, the company had total assets of $4,283,417,
total liabilities of $2,913,026, and total stockholders' equity of
$1,370,391.

For the three months ended September 30, 2015, the company recorded
a net profit of $319,085, compared with a net loss of $190,687 for
the same period in 2014.  The net profit was due to the
contribution effective September 1, 2015 from CreateApp and HRM360
platforms.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/gt7l5v8

Headquartered in Hong Kong, Weyland Tech, Inc. specializes in
providing e-commerce solutions and services that facilitate
multi-channel B2C (business-to-consumer) and B2B
(business-to-business) transactions.  In September 2015, the
company completed its acquisition of Technopreneurs Resources
Center Private Limited (TRC), based in Singapore, and added an
additional business line to its products and services offering via
TRC's 'CreateApp' platform.



WIRE COMPANY: Cowen and Company Approved as Investment Banker
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Wire Company Holdings Inc. and its debtor-affiliates to employ
Cowen and Company LLC as their financial advisor and investment
banker.

The firm will:

   a) provide feedback and advice to the Debtors on the most
      appropriate capital structure and features of each
      Transaction in coordination with the Debtors and its
      advisors in order to maximize the likelihood of success of
      each such Transaction;

   b) assist the Debtors by bringing each Transaction to the
      attention of Prospective Investors;

   c) assist the Debtors in the preparation of the Transaction
      Information;

   d) assist in the negotiation of the terms and conditions of
      each Transaction with Prospective Investors;

   e) assist the Debtors in analyzing the potential Restructuring
      alternatives and means of executions of such alternatives;

   f) provide advice and testimony related to a potential
      Restructuring;

   g) assist the Debtors in conducting business and financial
      analysis of the Debtors related to a Transaction;

   h) assist the Debtors in identifying and evaluating potential
      counter-parties for an M&A Transaction;

   i) contact potential counter-parties for an M&A Transaction
      that the parties have agreed in advance may be appropriate
      for an M&A Transaction, and meet with and provide them such
      information about the Debtors as may be appropriate and
      acceptable to the Debtors, subject to customary
      confidentiality arrangements;

   j) assist the Debtors in preparing and distributing the
      Information Memo;

   k) assist the Debtors in evaluating each Transaction proposal
      made by potential counter-parties for an M&A Transaction
      and developing a strategy to effectuate the Transaction;

   l) assist the Debtors in conducting an auction sale process
      in connection with efforts to consummate an M&A
      Transaction;

   m) assist the Debtors in structuring and negotiating an M&A
      Transaction and participate in such negotiations as
      requested, and assist the Debtors in coordination of the
      closing of a Transaction;

   n) perform such other services as may be agreed by the parties
      in the furtherance of the services listed above.

The services that the firm will provide to the Debtors are
necessary to enable the Debtors to maximize the value of their
estates.  The Debtors said they believe that the services will not
duplicate the services that other professionals will be providing
to the Debtors in the Chapter 11 Cases.  Specifically, Cowen will
carry out unique functions and will use reasonable efforts to
coordinate with the Debtors' other retained professionals to avoid
the unnecessary duplication of services, the Debtors said.

The Debtors told the Court they have agreed to pay the firm the
following compensation as outlined in their engagement letter:

   a) Retainer Fees: Cowen shall receive, in cash, a retainer fee
      of $15,000 per month.  The Retainer Fees are not subject to
      completion of any Transaction or any Tranche thereof.

   b) M&A Fees: Upon the Closing of an M&A Transaction, if
      certain assets are sold or acquired pursuant to such M&A
      Transaction, Cowen shall receive, in cash, a fee equal to
      the greater of (A) the Applicable Percentage of the gross
      proceeds received or paid for such assets and (B) the
      Minimum M&A Fee; provided however, if such M&A Transaction
      involves a sale of all or substantially all of the Debtors'
      assets or a controlling interest in the Debtors, the M&A
      Fee shall be equal to the greater of (A) the Applicable
      Percentage of the Enterprise Value of the Debtors as
      measured immediately prior to the closing of such M&A
      Transaction and (B) the Minimum M&A Fee.  "Enterprise
      Value" shall mean, with respect to any entity, the
      aggregate consideration paid to such entity and all
      shareholders, partners and members, as well as holders of
      options, warrants, convertible securities, phantom equity
      and similar rights and shall include any debt directly or
      indirectly assumed.  The "Minimum M&A Fee" shall mean
      $350,000 and shall only be payable one time, regardless of
      whether there are one or more Tranches.

      In the event any portion of the proceeds of an M&A
      Transaction are subject to any escrow or holdback or are
      made via installments, the M&A Fees as to such portion
      shall only be payable as and when such proceeds are
      released or paid, or such installment is made, and only on
      the portion released or paid to the Debtors. For the
      avoidance of doubt, the M&A Fees as to any portion of the
      proceeds of an M&A Transaction shall be calculated based
      upon the Applicable Percentage that would apply to the
      aggregate gross proceeds to be received or paid in such M&A
      Transaction.

      "Applicable Percentage" means, with respect to an M&A
      Transaction:

      5.00% if the aggregate gross proceeds to be received or
            paid in the M&A Transaction or Enterprise Value, as
            applicable, are less than or equal to $8 million;

      5.25% if the aggregate gross proceeds to be received or
            paid in the M&A Transaction or Enterprise Value, as
            applicable, are greater than $8 million but less than
            or equal to $11 million;

      5.50% if the aggregate gross proceeds to be received or
            paid in the M&A Transaction or Enterprise Value, as
            applicable, are greater than $11 million but less
            than or equal to $15 million; or

      5.75% if the aggregate gross proceeds to be received or
            paid in the M&A Transaction or Enterprise Value, as
            applicable, are greater than $15 million.

   c) Restructuring Fees: Upon the completion of a Restructuring,
      Cowen shall receive, in cash, 10% of a fee in an amount
      equal to 5.75% of the original value of any claims or debt
      compromised, reduced or eliminated as part of the
      Restructuring.

Lorie R. Beers, managing director of the firm, assured the Court
that the firm is a "disinterested person" within the meaning of
Section 101(14) of the Bankruptcy Code.

Ms. Beers can be reached at:

   Lorie R. Beers
   COWEN AND COMPANY
   599 Lexington Ave Fl 27
   New York, NY 10022-7773
   Tel: 646 562 1000
   Email: lorie.beers@cowen.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: Hires Fangda Partners as Chinese Counsel
------------------------------------------------------
Wire Company Holdings Inc. and its debtor-affiliates obtained
approval from the U.S. Bankruptcy Court for the District of
Delaware to employ Fangda Partners as their special counsel.

The firm will advise the Debtors with respect to foreign legal
issues.  The Debtors have determined that the retention of the firm
is essential to the effective and efficient administration of the
Chapter 11 Cases, in light of the Debtors' operations in People's
Republic of China (excluding Hong Kong, Macau and Taiwan).  The
firm will coordinate with the Debtors and their general bankruptcy
counsel, Lowenstein Sandler LLP, to ensure that the services
provided by Fangda and Lowenstein will be complimentary of each
other and not duplicative.

The firm will:

   a) advise on PRC legal issues in relation to the Chapter 11
      Cases; and

   b) perform all other legal services for the Debtors which may
      be necessary and proper in these proceedings, as agreed to
      by Fangda and the Debtors.

Fangda's current hourly rates are:

      Ji Nuo       $650
      Gao Yang     $650
      Associates   $260-$470

Gao Yang, Esq., partner at Fangda Partners, assured the Court that
the firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.

The firm can be reached at:

      Fangda Partners
      32/F, Plaza 66 Tower 1
      1266 Nan Jing West Road
      Shanghai 200040, China
      Tel: (8621) 2208 1166
      Fax: (8621) 5298 5599
      Email: email@fangdalaw.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.


YELLOW CAB CO-OP: Regulator Says Ch. 11 Filing Doesn't Mean Closure
-------------------------------------------------------------------
Kate Toran, the chief of taxi services at the San Francisco
Municipal Transportation Agency, which regulates cabs in San
Francisco, has clarified that Yellow Cab Co-Op's planned Chapter 11
bankruptcy filing does not necessarily mean it will close, Joe
Fitzgerald Rodriguez, writing for the San Francisco Examiner,
reports.

As reported by the Troubled Company Reporter on Jan. 7, 2016, the
Examiner reported that the Company is edging toward filing for
bankruptcy after challenges from tech rivals Uber and Lyft, as well
as mounting lawsuits from traffic collisions, contributed to the
fiscal Hail Mary.

The Examiner relates that the financial move has set off alarms
across the industry.  According to the Examiner, many news outlets
re-reporting the story implied the Company was "doomed."

The Examiner quoted Ms. Toran as saying, "Overall, there's still a
demand for taxi service in San Francisco."  People may make
mistaken conclusions about the taxi industry's health, the report
states, citing Ms. Toran.

Yellow Cab Co-op is San Francisco's largest taxi company.


YELLOWSTONE MOUNTAIN: 9th Circ. Rules Founder to Stay in Jail
-------------------------------------------------------------
Carmen Germaine at Bankruptcy Law360 reported that the former owner
of bankrupt Yellowstone Mountain Club will stay in jail after the
Ninth Circuit on Jan. 11, 2016, found most of his petition for
release was mooted when a Montana judge issued a new order finding
the ski club founder is still in contempt of court.

A three-judge panel issued the order finding that Timothy L.
Blixseth's petition for a writ of mandamus is largely moot after
U.S. District Judge Sam E. Haddon ruled on Dec. 30 that Blixseth is
still in contempt of court.

              About Yellowstone Mountain Club

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


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

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

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

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

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


[*] H. Jeffrey Schwartz Joins New York Office of Robins Kaplan
--------------------------------------------------------------
H. Jeffrey Schwartz has joined the firm as a partner and co-chair
of the Restructuring and Business Bankruptcy practice alongside
Howard Weg.

"Jeffrey is a leader in the national restructuring bar centered in
New York with more than 30 years of experience in major
restructuring and reorganization engagements," said Martin Lueck,
chairman of Robins Kaplan's executive board.  "He is highly
respected within his vast network in the New York distressed debt
markets, and will immediately expand the firm’s presence there
among hedge funds, noteholders, and private equity firms."

Throughout his career, Mr. Schwartz has led successful engagements
on behalf of debtors such as the Bayou Funds LLC and PTC Steel
Alliance, Inc., well as official creditors' committees, including
those formed in the bankruptcies of Corinthian Colleges, Inc.,
Digital Domain Media Group, Inc., Coda Automotive, Inc., and
Constar International, LLC. In the structured finance space, Mr.
Schwartz has represented MBIA, Inc. in the Chapter 11
reorganization case of FGIC Corporation well as various private
equity and hedge funds in other major Chapter 11 cases.

Mr. Schwartz served as lead counsel of the Official General
Unsecured Creditors Committee of Corinthian Colleges, Inc., the
largest for-profit post-secondary education provider to file for
Chapter 11 reorganization.  In this capacity, he has worked
alongside Robins Kaplan partner Scott Gautier and the Robins Kaplan
team representing the Official Committee of Student Creditors.

"We're thrilled to have Jeffrey join our team. His addition to the
firm positions Robins Kaplan as a leader in the representation of
official creditors' committees in Chapter 11 proceedings for
distressed for-profit secondary education providers," said Weg,
co-chair of the Restructuring and Business Bankruptcy practice.
"Having him on-board in our New York office will provide
exceptional benefit for our clients, and we look forward to
continued expansion in that market."

Robins Kaplan's Restructuring and Business Bankruptcy Group is a
national leader in representing debtors and creditors’
committees, as well as other constituents, including investors,
lenders, and indenture trustees, in corporate restructuring and
business bankruptcy cases.  In July, the firm was named counsel to
the Official Committee of Unsecured Creditors in the bankruptcy
case commenced by Local Corp. in the Central District of
California, and was most recently named Chapter 11 restructuring
counsel for four high-value hotel properties in Manhattan that are
affiliated with Gemini Real Estate Advisors.


[*] Katz Joins Fried Frank's Bankruptcy & Restructuring Practice
----------------------------------------------------------------
Fried, Frank, Harris, Shriver & Jacobson LLP on Jan. 19 disclosed
that Ashley Katz will join as a partner in the Bankruptcy and
Restructuring Practice, resident in the Firm's London office.  He
has extensive experience advising financial institutions,
borrowers, bondholders, insolvency practitioners and distressed
investors in relation to all aspects of restructuring and
insolvency matters.  He advises on a range of cross-border and UK
restructurings and insolvencies -- including matters in the
automotive, real estate, construction, financial services, retail
and leisure sectors.

"We are pleased to welcome Ashley to Fried Frank, where he will
help build out our core practices in Europe and support client
needs by providing a strong Bankruptcy and Restructuring capability
in this key market," said David Greenwald, chairman of Fried Frank.
"Ashley brings excellent technical skills and he shares our
commitment to helping our clients with their most sophisticated and
challenging matters.  He is a fantastic addition to our Bankruptcy
and Restructuring Practice, and our team of lawyers in the US and
Europe looks forward to working with him."

"I am delighted that Ashley is joining Fried Frank at an exciting
time of growth for our London office.  He will be fully integrated
into our existing Bankruptcy and Restructuring team, working with
us to deliver valuable counsel to clients who need initial deal
structuring advice and assistance with transactions that involve
distressed issues," said Brad Eric Scheler, chairman of Fried
Frank's Bankruptcy and Restructuring Practice.  "Throughout his
career, Ashley has consistently demonstrated intellectual vigor and
creativity, which have long been cornerstones of Fried Frank's
Bankruptcy and Restructuring Practice.  Our current team is excited
to collaborate with him as we act for funds and other creditors, as
well as clients on the debtor side, on transatlantic assignments."

Before joining Fried Frank, Mr. Katz was joint head of Mayer
Brown's Restructuring, Bankruptcy and Insolvency group in London.
He received his Advanced Certificate in International Insolvency
Law from the University of Pretoria in South Africa in 2002, his
Diploma in Insolvency Law with distinction from Rand Afrikaans
University in South Africa in 2000, and his BA and LLB from the
University of the Witwatersrand in Johannesburg, South Africa, in
1992 and 1994, respectively.  He is admitted to practice in England
and Wales and in South Africa.

This development follows Fried Frank's expansion of its Asset
Management Practice to Europe, with last year's addition of four
partners in London.  Since 2014, Fried Frank's European offices
have also added two new partners in the Mergers and Acquisitions
and Private Equity Practice, two new partners in the Finance
Practice and a new partner in the Tax Practice.

                       About Fried Frank

Fried, Frank, Harris, Shriver & Jacobson LLP --
http://www.friedfrank.com-- is an international law firm with
approximately 450 lawyers who advise the world's leading
corporations and financial institutions on their most critical
legal needs and business opportunities.  The Firm has offices in
New York; Washington, DC; London; Paris; Frankfurt; Hong Kong; and
Shanghai.


[*] Ken Ziman to Join Lazard as Managing Director for Restructuring
-------------------------------------------------------------------
Lazard Ltd (NYSE: LAZ) announced on Jan. 19 that Ken Ziman will
join the firm as a Managing Director, Restructuring, effective
March 1. Based in New York, Mr. Ziman was most recently a Deputy
Practice Leader of Corporate Restructuring at Skadden.

"Ken is one of the top restructuring attorneys in the industry,
having advised companies in distress, and their stakeholders, for
the past 25 years," said David Kurtz, Vice Chairman, U.S.
Investment Banking, and Head of Global Restructuring at Lazard. "He
will be a strong addition to our global practice, which serves
clients with the industry’s most experienced teams of investment
bankers and sector specialists."

"I've known and been impressed with many professionals at Lazard
for decades. They have a franchise with an ideal and unrivaled
global platform to address the complexity of the evolving
restructuring business," said Mr. Ziman. "I look forward to joining
the preeminent restructuring team in the financial advisory
business and applying the skills I've honed over 25 years to a new
platform."

At Skadden, where he was a partner since 2010, Mr. Ziman primarily
represented companies in out-of-court restructurings and in-court
proceedings, as well as lenders to and investors in troubled
companies. Previously, he was a partner at Simpson Thacher &
Bartlett and an associate at O'Melveny and Myers. He earned a J.D.
from the University of Pennsylvania Law School and a B.A. from
Colgate University.

Over the past decade, Lazard has advised on more than 500
restructurings worldwide, with an aggregate value of over $1
trillion, including many of the largest and most complex. In 2015,
the firm was global leader in announced and completed
restructurings, and was named "Restructuring Advisor of the Year"
by International Financing Review magazine. The firm's
professionals combine an extensive knowledge of restructuring
strategies with M&A expertise, credit analysis skills, capital
markets knowledge, industry expertise and negotiation experience in
distressed situations.

                         About Lazard

Lazard, one of the world's preeminent financial advisory and asset
management firms, operates from 43 cities across 27 countries in
North America, Europe, Asia, Australia, Central and South America.
With origins dating to 1848, the firm provides advice on mergers
and acquisitions, strategic matters, restructuring and capital
structure, capital raising and corporate finance, as well as asset
management services to corporations, partnerships, institutions,
governments and individuals.

Media contacts:

Judi Frost Mackey
Tel: +1 212 632 1428
Email: judi.mackey@lazard.com

Richard Creswell
Tel: +44 20 7187 2305
Email: richard.creswell@lazard.com

Clare Picket
Tel: +1 212 632 6963
Email: clare.pickett@lazard.com


[*] Manufacturers Face Threat of Industrial Recession, Moody's Says
-------------------------------------------------------------------
Soft demand in key end markets and prolonged weakness in US
industrial output point to increasing risks of an industrial
recession in the North American manufacturing sector, says Moody's
Investors Service.

US industrial production declined for the third consecutive month
as slowing growth in China, the strong US dollar and the weakness
in commodities have dampened global demand for North American
industrial products, according to the report "North American
Manufacturing: Continued Decline in US Industrial Output Reflects
Deepening Demand Slump."

Weak conditions in many of the key end markets served by industrial
manufacturers are further exacerbating the decline in industry
fundamentals.  As oil & gas, metals & mining, and agricultural
companies continue to soften in response to commodities volatility
and slowing demand from China, the adverse effects will flow
through to North American manufacturers with exposure to these
sectors.  Manufacturing companies are already lowering their fiscal
2016 earnings forecasts in response to the persistent decline in
these end markets.

Moody's notes that such actions could perpetuate the weakness in
these markets.

"Slowing demand leads companies to delay investment and cut costs
to protect their profits," said Chris Wimmer, a Moody's Vice
President and Senior Credit Officer.  "But these measures create a
cycle that further weakens demand, leading to recessionary
conditions that could keep the industry from rebounding as quickly
as it did in the wake of the Great Recession."


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Gregory Scott Manson
   Bankr. C.D. Cal. Case No. 16-10200
      Chapter 11 Petition filed January 7, 2015
         represented by: Michael Jay Berger, Esq.
                       E-mail: michael.berger@bankruptcypower.com

In re Gorfien & Jacobsohn, PA
   Bankr. S.D. Fla. Case No. 16-10238
      Chapter 11 Petition filed January 7, 2015
         See http://bankrupt.com/misc/flsb16-10238.pdf
         represented by: Susan D. Lasky, Esq.
                         SUSAN D LASKY, PA
                         E-mail: ECF@suelasky.com

In re Angelo Perry Thrower
   Bankr. S.D. Fla. Case No. 16-10243
      Chapter 11 Petition filed January 7, 2015

In re Elouise Botha and Deon Philip Botha
   Bankr. S.D. Fla. Case No. 16-10258
      Chapter 11 Petition filed January 7, 2015

In re Scott Michael Larson
   Bankr. D. Haw. Case No. 16-00019
      Chapter 11 Petition filed January 7, 2015

In re Family Auto Center, LLC
   Bankr. D.N.J. Case No. 16-10269
      Chapter 11 Petition filed January 7, 2015
         See http://bankrupt.com/misc/njb16-10269.pdf
         represented by: Mark K. Smith, Esq.
                         LAW OFFICES OF MARK K. SMITH, LLC
                         E-mail: markksmithlaw@aol.com

In re Gregory Pai
   Bankr. D.N.J. Case No. 16-10311
      Chapter 11 Petition filed January 7, 2015

In re 108-110 Palisade Ave Realty Inc.
   Bankr. E.D.N.Y. Case No. 16-40054
      Chapter 11 Petition filed January 7, 2015
         filed Pro Se

In re Rosa E. Perez
   Bankr. E.D.N.Y. Case No. 16-40058
      Chapter 11 Petition filed January 7, 2015

In re Tanya Shtatnov
   Bankr. E.D. Penn. Case No. 16-10126
      Chapter 11 Petition filed January 7, 2015

In re Chee Chee's Artistry in Hair, Inc.
   Bankr. E.D. Wash. Case No. 16-00034
      Chapter 11 Petition filed January 7, 2015
         See http://bankrupt.com/misc/waeb16-00034.pdf
         represented by: Kevin O’Rourke, Esq.
                         SOUTHWELL AND O'ROURKE
                         E-mail: kevin@southwellorourke.com

In re Vardoui Madatian
   Bankr. C.D. Cal. Case No. 16-10048
      Chapter 11 Petition filed January 8, 2016
         represented by: Michael Avanesian, Esq.
                         AVANESIAN LAW FIRM
                         E-mail: michael@avanesianlaw.com

In re Enas Meram
   Bankr. S.D. Cal. Case No. 16-00072
      Chapter 11 Petition filed January 8, 2016
         represented by: Geoffrey E. Marr, Esq.
                         LAW OFFICES OF GEOFFREY E. MARR
                         E-mail: gemarr59@hotmail.com

In re Rhonda L. Cassity
   Bankr. M.D. Fla. Case No. 16-00146
      Chapter 11 Petition filed January 8, 2016

In re PETITUSA, LLC
   Bankr. S.D. Fla. Case No. 16-10305
      Chapter 11 Petition filed January 8, 2015
         See http://bankrupt.com/misc/flsb16-10305.pdf
         represented by: Joe M. Grant, Esq.
                         MARSHALL SOCARRAS GRANT, P.L.
                         E-mail: jgrant@msglaw.com

In re Wilfred Holzinger and Jean Susanne Holzinger
   Bankr. S.D. Ill. Case No. 16-30015
      Chapter 11 Petition filed January 8, 2016

In re AS Realty USA, LLC
   Bankr. N.D.N.Y. Case No. 16-10017
      Chapter 11 Petition filed January 8, 2016
         See http://bankrupt.com/misc/nynb16-10017.pdf
         represented by: Paul A. Levine, Esq.
                         LEMERY GREISLER LLC
                         E-mail: plevine@lemerygreisler.com

In re SUCN. PEDRO BIGAY INC.
   Bankr. D.P.R. Case No. 16-00055
      Chapter 11 Petition filed January 8, 2016
         See http://bankrupt.com/misc/prb16-00055.pdf
         represented by: Jesus Santiago Malavet, Esq.
                         SANTIAGO MALAVET AND SANTIAGO LAW OFFICE
                         E-mail: contactus@smslopsc.com

In re PONCE TACO MAKER, CORP.
   Bankr. D.P.R. Case No. 16-00056
      Chapter 11 Petition filed January 8, 2016
         See http://bankrupt.com/misc/prb16-00056.pdf
         represented by: Jesus Santiago Malavet, Esq.
                         SANTIAGO MALAVET AND SANTIAGO LAW OFFICE
                         E-mail: contactus@smslopsc.com

In re PLAZA DEL CARIBE TACO MAKER CORP.
   Bankr. D.P.R. Case No. 16-00057
      Chapter 11 Petition filed January 8, 2016
         See http://bankrupt.com/misc/prb16-00057.pdf
         represented by: Jesus Santiago Malavet, Esq.
                         SANTIAGO MALAVET AND SANTIAGO LAW OFFICE
                         E-mail: contactus@smslopsc.com

In re Stonebriar Motors, LLC
   Bankr. E.D. Tex. Case No. 16-40053
      Chapter 11 Petition filed January 8, 2016
         See http://bankrupt.com/misc/txeb16-40053.pdf
         represented by: Eric A. Liepins, Esq.
                         ERIC A. LIEPINS P.C.
                         E-mail: eric@ealpc.com

In re Alanna Grace Ellis
   Bankr. W.D. Wash. Case No. 16-10066
      Chapter 11 Petition filed January 8, 2016
         represented by: Larry B. Feinstein, Esq.
                         VORTMAN & FEINSTEIN
                         E-mail: feinstein1947@gmail.com

In re Samuel Sibley Irving and Regina Maria Stipa
   Bankr. W.D. Wash. Case No. 16-40071
      Chapter 11 Petition filed January 8, 2016
         represented by: Masafumi Iwama, Esq.
                         IWAMA LAW FIRM
                         E-mail: matt@iwamalaw.com

In re Shahla Dowlati
   Bankr. C.D. Cal. Case No. 16-10073
      Chapter 11 Petition filed January 11, 2016
         represented by: Michael Jay Berger, Esq.
                         E-mail:
michael.berger@bankruptcypower.com

In re BDP Innovative Chemicals Company
   Bankr. M.D. Fla. Case No. 16-00184
      Chapter 11 Petition filed January 11, 2016
         See http://bankrupt.com/misc/flmb16-00184.pdf
         represented by: Justin M. Luna, Esq.
                         LATHAM, SHUKER, EDEN & BEAUDINE, LLP
                         E-mail: jluna@lseblaw.com

In re Liza Hazan
   Bankr. S.D. Fla. Case No. 16-10389
      Chapter 11 Petition filed January 11, 2016

In re Thomas E Beeson and Donna L Beeson
   Bankr. N.D. Ill. Case No. 16-00783
      Chapter 11 Petition filed January 11, 2016

In re DS Realty, LLC
   Bankr. E.D. Ky. Case No. 16-50034
      Chapter 11 Petition filed January 11, 2016
         See http://bankrupt.com/misc/kyeb16-50034.pdf
         represented by: Michael W. McClain, Esq.
                         MCCLAIN DEWEES, PLLC
                         E-mail: mmcclain@mcclaindewees.com

In re Christian Brothers Construction Corp.
   Bankr. E.D.N.Y. Case No. 16-70110
      Chapter 11 Petition filed January 11, 2016
         filed Pro Se

In re MS Scarsdale Snack Mart, Inc.
   Bankr. S.D.N.Y. Case No. 16-22043
      Chapter 11 Petition filed January 11, 2016
         See http://bankrupt.com/misc/nysb16-22043.pdf
         represented by: H. Bruce Bronson, Jr., Esq.
                         BRONSON LAW OFFICES, P.C.
                         E-mail: ecf@bronsonlaw.net

In re Magno Tire Center, Inc.
   Bankr. D.P.R. Case No. 16-00074
      Chapter 11 Petition filed January 11, 2016
         See http://bankrupt.com/misc/prb16-00074.pdf
         represented by: Eduardo J Mayoral Garcia, Esq.
                         E-mail: emayoral@gmail.com

In re Jose Antonio Baez Serrano
   Bankr. D.P.R. Case No. 16-00081
      Chapter 11 Petition filed January 11, 2016

In re Hebert Research, Inc.
   Bankr. W.D. Wash. Case No. 16-10111
      Chapter 11 Petition filed January 11, 2016
         See http://bankrupt.com/misc/wawb16-10111.pdf
         represented by: Dallas W Jolley, Jr, Esq.
                         E-mail: dallas@jolleylaw.com

In re James Dana Hebert and Cynthia Sullivan Hebert
   Bankr. W.D. Wash. Case No. 16-10112
      Chapter 11 Petition filed January 11, 2016

In re 7453 Wingshadow, LLC
   Bankr. D. Ariz. Case No. 16-00227
      Chapter 11 Petition filed January 12, 2016
         filed Pro Se

In re Kevan A. Green and Dina J Green
   Bankr. C.D. Cal. Case No. 16-10251
      Chapter 11 Petition filed January 12, 2016
         represented by: Javier H Castillo, Esq.
                         HERITAGE PACIFIC LAW GROUP, PC
                         E-mail: jhcecf@gmail.com

In re Isabel Judith Torres
   Bankr. C.D. Cal. Case No. 16-10393
      Chapter 11 Petition filed January 12, 2016
         represented by: Onyinye N Anyama, Esq.
                         ANYAMA LAW FIRM
                         E-mail: onyi@anyamalaw.com

In re Zaida Brown
   Bankr. D. Conn. Case No. 16-50053
      Chapter 11 Petition filed January 12, 2016

In re Jerry D. Campbell
   Bankr. M.D. Fla. Case No. 16-00223
      Chapter 11 Petition filed January 12, 2016

In re Palm Harbor Trees, LLC
   Bankr. M.D. Fla. Case No. 16-00235
      Chapter 11 Petition filed January 12, 2016
         See http://bankrupt.com/misc/flmb16-00235.pdf
         represented by: Thomas C. Little, Esq.
                         THOMAS C. LITTLE, PA
                         E-mail: janet@thomasclittle.com

In re Jangir, Inc.
   Bankr. M.D. Fla. Case No. 16-30022
      Chapter 11 Petition filed January 12, 2016
         filed Pro Se

In re Craig A Bell and Aimee L Bell
   Bankr. D. Mass. Case No. 16-40031
      Chapter 11 Petition filed January 12, 2016

In re Renee Jones-Perry
   Bankr. D. Md. Case No. 16-10366
      Chapter 11 Petition filed January 12, 2016

In re Hillcrest Inc
   Bankr. W.D. Mo. Case No. 16-40054
      Chapter 11 Petition filed January 12, 2016
         See http://bankrupt.com/misc/mowb16-40054.pdf
         represented by: Randall L. Robb, Esq.
                         E-mail: robbkcmo@planetkc.com

In re Trek Auto Sales, Limited Liability Company
   Bankr. D.N.J. Case No. 16-10538
      Chapter 11 Petition filed January 12, 2016
         See http://bankrupt.com/misc/njb16-10538.pdf
         represented by: David H. Stein, Esq.
                         WILENTZ, GOLDMAN & SPITZER, P.A.
                         E-mail: dstein@wilentz.com

In re Thosco, Inc.
   Bankr. D.N.J. Case No. 16-10557
      Chapter 11 Petition filed January 12, 2016
         See http://bankrupt.com/misc/njb16-10557.pdf
         represented by: Anthony Sodono III, Esq.
                         TRENK, DIPASQUALE, DELLA FERA & SODONO
                         E-mail: asodono@trenklawfirm.com

In re BSG Creative Image, Inc.
   Bankr. D.P.R. Case No. 16-00087
      Chapter 11 Petition filed January 12, 2016
         See http://bankrupt.com/misc/prb16-00087.pdf
         represented by: Gloria M Justiniano Irizarry, Esq.
                         JUSTINIANO'S LAW OFFICE
                         E-mail: justinianolaw@gmail.com

In re Fourzero, Inc.
   Bankr. D.P.R. Case No. 16-00100
      Chapter 11 Petition filed January 12, 2016
         See http://bankrupt.com/misc/prb16-00100.pdf
         represented by: MANUEL A. Segarra-Vazquez, Esq.
                         MANUEL A. SEGARRA VAZQUEZ LAW OFFIC
                         E-mail: masvlaw@gmail.com

In re Paul W. Sherrick
   Bankr. M.D. Tenn. Case No. 16-00182
      Chapter 11 Petition filed January 12, 2016

In re Sherrick Construction, Inc.
   Bankr. M.D. Tenn. Case No. 16-00183
      Chapter 11 Petition filed January 12, 2016
         See http://bankrupt.com/misc/tnmb16-00183.pdf
         represented by: Griffin S Dunham, Esq.
                         EMERGE LAW PLC
                         E-mail: griffin@emergelaw.net

In re Prakash Hegde
   Bankr. N.D. Tex. Case No. 16-40213
      Chapter 11 Petition filed January 12, 2016

In re Luis Miguel Castillo and Beatriz Castillo
   Bankr. W.D. Tex. Case No. 16-10040
      Chapter 11 Petition filed January 12, 2016

In re Josefina Violeta Herrera
   Bankr. S.D. Fla. Case No. 16-10484
      Chapter 11 Petition filed January 13, 2016

In re Barbara Grimm and Paul Grimm
   Bankr. D. Md. Case No. 16-10424
      Chapter 11 Petition filed January 13, 2016

In re HFIG Old Bridge 2 LLC
   Bankr. D.N.J. Case No. 16-10564
      Chapter 11 Petition filed January 13, 2016
         See http://bankrupt.com/misc/njb16-10564.pdf
         represented by: David S. Catuogno, Esq.
                         FORMAN HOLT ELIADES & YOUNGMAN LLC
                         E-mail: dcatuogno@formanlaw.com

In re HFIG Old Bridge LLC
   Bankr. D.N.J. Case No. 16-10572
      Chapter 11 Petition filed January 13, 2016
         See http://bankrupt.com/misc/njb16-10572.pdf
         represented by: David S. Catuogno, Esq.
                         FORMAN HOLT ELIADES & YOUNGMAN LLC
                         E-mail: dcatuogno@formanlaw.com

In re Shore PKWY II Realty Inc.
   Bankr. E.D.N.Y. Case No. 16-40147
      Chapter 11 Petition filed January 13, 2016
         See http://bankrupt.com/misc/nyeb16-40147.pdf
         represented by: Eric H Horn, Esq.
                         VOGEL BACH & HORN, P.C.
                         E-mail: ehorn@vogelbachpc.com

In re 509 East 55th Street Corp
   Bankr. E.D.N.Y. Case No. 16-40149
      Chapter 11 Petition filed January 13, 2016
         See http://bankrupt.com/misc/nyeb16-40149.pdf
         represented by: Narissa A Joseph, Esq.
                         LAW OFFICE OF NARISSA A. JOSEPH
                         E-mail: njosephlaw@aol.com

In re Tracey A. Wright
   Bankr. S.D.N.Y. Case No. 16-10060
      Chapter 11 Petition filed January 13, 2016

In re Inmobiliaria Leguisamo Inc.
   Bankr. D.P.R. Case No. 16-00123
      Chapter 11 Petition filed January 13, 2016
         See http://bankrupt.com/misc/prb16-00123.pdf
         represented by: Nydia Gonzalez Ortiz, Esq.
                         SANTIAGO & GONZALEZ
                         E-mail: bufetesg@gmail.com

In re DME Specialist, Inc.
   Bankr. W.D. Tex. Case No. 16-50112
      Chapter 11 Petition filed January 13, 2016
         See http://bankrupt.com/misc/txwb16-50112.pdf
         represented by: J. Todd Malaise, Esq.
                         MALAISE LAW FIRM
                         E-mail: notices@malaiselawfirm.com

In re Acquire Healthcare, LLC
   Bankr. W.D. Tex. Case No. 16-50113
      Chapter 11 Petition filed January 13, 2016
         See http://bankrupt.com/misc/txwb16-50113.pdf
         represented by: David T. Cain, Esq.
                         LAW OFFICE OF DAVID T. CAIN
                         E-mail: caindt@swbell.net

In re Charles Aushby Jenkins, Jr.
   Bankr. E.D. Va. Case No. 16-10128
      Chapter 11 Petition filed January 13, 2016

In re William Alex McClain, II
   Bankr. S.D. Fla. Case No. 16-10599
      Chapter 11 Petition filed January 14, 2016

In re American Stone Fabricators, Inc.
   Bankr. S.D. Ind. Case No. 16-80012
      Chapter 11 Petition filed January 14, 2016
         See http://bankrupt.com/misc/insb16-80012.pdf
         represented by: David R. Krebs, Esq.
                         TUCKER, HESTER, BAKER & KREBS
                         E-mail: dkrebs@thbklaw.com

In re Knight Capital Partners, Inc.
   Bankr. E.D. Mich. Case No. 16-40441
      Chapter 11 Petition filed January 14, 2016
         See http://bankrupt.com/misc/mieb16-40441.pdf
         represented by: Ethan D. Dunn, Esq.
                         MAXWELL DUNN, PLC
                         E-mail: bankruptcy@maxwelldunnlaw.com

In re 40-01 Northern Blvd. Corp. d/b/a Tequila Sunrise II
   Bankr. E.D.N.Y. Case No. 16-40159
      Chapter 11 Petition filed January 14, 2016
         See http://bankrupt.com/misc/nyeb16-40159.pdf
         represented by: Scott A Steinberg, Esq.
                         LAW OFFICE OF SCOTT A. STEINBERG
                         E-mail: ssteinberg@saslawfirm.net

In re Jem Rest., Corp.
   Bankr. D.P.R. Case No. 16-00152
      Chapter 11 Petition filed January 14, 2016
         See http://bankrupt.com/misc/prb16-00152.pdf
         represented by: Alexis Fuentes Hernandez, Esq.
                         FUENTES LAW OFFICES, LLC
                         E-mail: alex@fuentes-law.com

In re YOGA4YU, Ltd
   Bankr. E.D. Tex. Case No. 16-40077
      Chapter 11 Petition filed January 14, 2016
         See http://bankrupt.com/misc/txeb16-40077.pdf
         represented by: Kevin S. Wiley, Jr., Esq.
                         LAW OFFICES OF KEVIN S. WILEY JR
                         E-mail: kevinwiley@lkswjr.com

In re D&I Transport, LLC
   Bankr. S.D. Tex. Case No. 16-50009
      Chapter 11 Petition filed January 14, 2016
         See http://bankrupt.com/misc/txsb16-50009.pdf
         represented by: David Thornton Cain, Esq.
                         LAW OFFICE OF DAVID T. CAIN
                         E-mail: caindt@swbell.net

In re Coupeville Reserve LLC
   Bankr. W.D. Wash. Case No. 16-10157
      Chapter 11 Petition filed January 14, 2016
         See http://bankrupt.com/misc/wawb16-10157.pdf
         represented by: Michael P Klein, Esq.
                         E-mail: attorneyklein@hotmail.com


                            *********

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

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

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

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

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

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

                            *********

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

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

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

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

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

                   *** End of Transmission ***