TCR_Public/160122.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, January 22, 2016, Vol. 20, No. 22

                            Headlines

22ND CENTURY: Empery, et al., Report 4.9% Stake as of Jan. 23
ADVANCED MICRO DEVICES: Incurs $102M Net Loss in Fourth Quarter
AMERICAN APPAREL: Ex-CEO Charney to Testify at Chapter 11 Trial
AMERICAN APPAREL: Opens Final Takeover Fight with Dov Charney
APOLLO MEDICAL: Appoints Mark Fawcett to Board of Directors

APOLLO MEDICAL: Appoints Thomas Lam to Board of Directors
APOLLO MEDICAL: Inks Indemnification Agreement with Acting CFO
APOLLO MEDICAL: Signs Consulting Agreement with Flacane Advisors
APOLLO MEDICAL: Unit Amends Employment Agreement with CEO & CMO
ARROYO VISION: Case Summary & 6 Largest Unsecured Creditors

ATLANTIC CITY, NJ: Considering Bankruptcy Filing, Mayor Says
ATLAS AMERICA 27-2006: Incurs Net Loss, Raises Going Concern Doubt
ATLAS RESOURCES 16-2007(A): Management Raises Going Concern Doubt
ATLAS RESOURCES 17-2007(A): Cites Going Concern Doubt, Net Loss
ATLAS RESOURCES 17-2008(B): Management Raises Going Concern Doubt

ATLAS RESOURCES 18-2008(A): Cites Net Loss, Going Concern Doubt
ATLAS RESOURCES 18-2009(B): Admits Going Concern Doubt
BEYOND GROUP: Case Summary & 6 Largest Unsecured Creditors
BG MEDICINE: Empery Asset, et al., Hold 4.9% Stake as of Dec. 31
BKH ACQUISITION: S&P Assigns 'B-' CCR, Outlook Negative

BLUE SUN ST. JOE: Objects to Panel's Bid to Terminate Exclusivity
CAPITOL LAKES: Case Summary & 20 Largest Unsecured Creditors
CATASYS INC: Files Copy of 2016 Investor Presentation with SEC
CHICAGO STATE UNIVERSITY: May Go Broke Over State Budget War
CHICAGO, IL: GOP Sees State Takeover, Bankruptcy for Schools

COLT DEFENSE: Reorganization Plan Declared Effective
DEWEY & LEBOEUF: Citibank Sues Ex-Chair Davis Over Unpaid Loan
DYNACAST INT'L: S&P Affirms 'B' CCR, Outlook Stable
EAST COAST TOWING: Case Summary & 20 Top Unsecured Creditors
EFRON DORADO: Case Summary & 10 Largest Unsecured Creditors

ELEPHANT TALK: Pi-Saffel Reports 14.6% Stake as of Dec. 31
F-SQUARED INVESTMENTS: Plan OK'd, But Bid to Nix $2BB Claim Looms
FINJAN HOLDINGS: US Patent Office Rejects Review on Six Petitions
FLINTKOTE COMPANY: Aviva Can't Replace Defendant in Insurance Suit
FREEDOM COMMUNICATIONS: Wins Final Approval to Get $4.5-Mil. Loan

FREESEAS INC: Sold $250,000 Convertible Note to Alpha Capital
GENERAL MOTORS: Judge Encourages Plaintiffs to Drop Ignition Suit
GT ADVANCED: Says Insurer Undervaluing Wrecked Sapphire Machines
HII TECHNOLOGIES: Proposes Reorganization Plan
HORSEHEAD HOLDING: S&P Lowers Corporate Credit Rating to 'SD'

HOVENSA LLC: Liquidation Plan Gets Backing from Creditors Panel
HYBRID COATING: Capital Deficit, et al., Cast Going Concern Doubt
IGEN NETWORKS: Raises Going Concern Doubt amid Recurring Losses
IRONGATE ENERGY: Moody's Cuts Corporate Family Rating to 'Ca'
JAMES HUMPHREYS: Files for Bankruptcy, Faces Malpractice Suits

LEHMAN BROTHERS: 401(k) Plan Held Disastrous Stock, 2nd Circ. Told
LILIS ENERGY: Raises Going Concern Doubt Amid Net Operating Losses
MAGNUM HUNTER: Creditors' Committee Files Rule 2019 Statement
MAGNUM HUNTER: Files Debt-For-Equity Chapter 11 Plan
MAGNUM HUNTER: Targeting March 28 Confirmation of Plan

MAGNUM HUNTER: To Employ Kirkland & Ellis as Bankr. Attorney
MAGNUM HUNTER: Wants to Hire A&M as Restructuring Advisor
MASTEC INC: S&P Revises Outlook to Negative & Affirms 'BB' CCR
MILLENNIUM LAB: Court Approves Skadden Arps as Bankruptcy Counsel
MILLENNIUM LAB: Court Okays Young Conaway as Conflict Counsel

MONAKER GROUP: Incurs $4.89 Million Net Loss in Third Quarter
NORFE GROUP: Case Summary & 19 Largest Unsecured Creditors
OFFSHORE GROUP: F3 Says Vantage Should Reveal True Intentions
OFFSHORE GROUP: Judge Enters Plan Confirmation Order
PATRIOT COAL: Courtney and Mohler Say Lease Deemed Rejected

PIONEER POWER: Debt Issues Cast Going Concern Doubt
PRIMORSK INT'L: Nordea Questions Bankruptcy Court's OK on Cash Use
PROTICA INC: Court Affirms Trial Court's Order vs. JFD
PTC SEAMLESS: Court Approves Dismissal Protocol
PTC SEAMLESS: Has Deal Discharging Wells Fargo Secured Claim

PTC SEAMLESS: Seeks to Have Charbon's Claims Estimated at $0
REICHHOLD HOLDINGS: Seeks Approval of $21-Mil. U.S. Settlement
REICHHOLD HOLDINGS: Seeks Approval of PBGC Stipulation
RELATIVITY FASHION: Committee Inks Deal with Manchester Entities
RELATIVITY MEDIA: Must 80% of Pay Fees Owed to FTI, Court Rules

SAMSON RESOURCES: Landowners Seek Special Statutory Committee
SANUWAVE HEALTH: Inks Exchange Agreements With Investors
SFX ENTERTAINMENT: S&P Lowers CCR to 'CC', Outlook Negative
SIGNAL INTERNATIONAL: SSG Acted as Adviser in Asset Sale
SKYLINE MANOR: Court Refuses to Dismiss Clawback Suits

SLAP SHOT: S&P Lowers Corporate Credit Rating to 'D'
SPANISH BROADCASTING: Attiva Capital No Longer Owns Class A Shares
SPORTS AUTHORITY: Moody's Cuts CFR to Caa3 on Interest Non-Payment
TENET HEALTHCARE: Adds Two New Independent Directors
TENET HEALTHCARE: Glenview Reports 17.9% Stake as of Jan. 7

TIMOTHY PLACE: Asks Court to Approve Disclosure Statement
TIMOTHY PLACE: Files Plan; To Pay Unsecured Creditors in Full
TIMOTHY PLACE: Hires McDonald Hopkins as Counsel
TIMOTHY PLACE: Joint Administration of Cases Sought
TIMOTHY PLACE: Proposes North Shores as Financial Advisor

TIMOTHY PLACE: Says Patient Care Ombudsman Not Necessary
TIMOTHY PLACE: Taps Globic Advisors as Claims and Noticing Agent
TIMOTHY PLACE: Wants to Use UMB Bank's Cash Collateral
TRINITY TOWN: Case Summary & 20 Largest Unsecured Creditors
TRUMP ENTERTAINMENT: Taj Mahal Could Reject Labor Deal, 3d Cir Says

UPPER MIDWEST: Suit Against DJK Stayed
UTSTARCOM HOLDINGS: Gu Guoping Owns 11.7MM Ordinary Shares
VERITEQ CORP: Adds Two New Members to Board of Directors
VERSO CORP: Expected Ch. 11 Filing to Propel Default Rate to 3.7%
VERSO PAPER: Said Negotiating Bankruptcy Filing This Week

WALTER ENERGY: Court Approves Monthly Payments to Caterpillar
WYNN RESORTS: Moody's Cuts Corporate Family Rating to 'Ba2'
XINERGY CORP: Minor Plan Confirmation Objections Filed
XINERGY CORP: Plan Confirmation Hearing Resumes Jan. 27
ZOGENIX INC: Gets Fast Track Designation for ZX008 Development

[*] Holland & Knight Adds Kenneth Noble in Boston and New York
[*] Holland & Knight Adds Kenneth Noble in Boston and New York
[*] Quanta Resources Wants Gibbons Disqualified in Superfund Row
[*] Robert Gayda Joins Seward & Kissel's Bankruptcy Practice in NY
[^] BOOK REVIEW: EPIDEMIC OF CARE


                            *********

22ND CENTURY: Empery, et al., Report 4.9% Stake as of Jan. 23
-------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Empery Asset Management, LP, Ryan M. Lane and Martin D.
Hoe disclosed that as of Dec. 31, 2015, they beneficially own
1,162,163 shares of Common Stock and 3,000,001 shares of Common
Stock issuable upon exercise of Warrants of 22nd Century Group,
Inc., representing 4.99 percent of the shares outstanding.  A copy
of the regulatory filing is available for free at
http://is.gd/j6QWxy

                        About 22nd Century

Clarence, New York-based 22nd Century Group, Inc., through its
wholly-owned subsidiary, 22nd Century Ltd, is a plant
biotechnology company using technology that allows for the level
of nicotine and other nicotinic alkaloids (e.g., nornicotine,
anatabine and anabasine) in tobacco plants to be decreased or
increased through genetic engineering and plant breeding.

22nd Century reported a net loss of $15.6 million on $529,000 of
revenue for the year ended Dec. 31, 2014, compared to a net loss of
$26.2 million on $7.27 million of revenue during the prior year.

As of Sept. 30, 2015, the Company had $21.01 million in total
assets, $6.79 million in total liabilities and $14.21 million in
total shareholders' equity.


ADVANCED MICRO DEVICES: Incurs $102M Net Loss in Fourth Quarter
---------------------------------------------------------------
Advanced Micro Devices, Inc., reported a net loss of $102 million
on $958 million of net revenue for the three months ended Dec. 26,
2015, compared to a net loss of $364 million on $1.23 billion of
net revenue for the three months ended Dec. 27, 2014.

For the year ended Dec. 26, 2015, the Company reported a net loss
of $660 million on $3.99 billion of net revenue compared to a net
loss of $403 million on $5.50 billion of net revenue for the year
ended Dec. 27, 2014.

As of Dec. 26, 2015, the Company had $3.10 billion in total assets,
$3.52 billion in total liabilities and a total stockholders'
deficit of $412 million.

"AMD closed 2015 with solid execution fueled by the second straight
quarter of double-digit percentage revenue growth in our Computing
and Graphics segment and record annual semi-custom unit shipments,"
said Dr. Lisa Su, AMD president and CEO.  "While 2015 was
challenging from a financial perspective, key R&D investments and a
sharpened focus on innovation position us well to deliver great
products, improved financial results and share gains in 2016."

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

                       http://is.gd/TguqiZ

                   About Advanced Micro Devices

Sunnyvale, California-based Advanced Micro Devices, Inc., is a
global semiconductor company.  The Company's products include x86
microprocessors and graphics.

                          *     *     *

As reported by the TCR on Oct. 22, 2015, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on Sunnyvale,
Calif.-based Advanced Micro Devices Inc. to 'CCC+' from 'B-'.  
"The downgrade reflects our expectation that AMD will experience a
more gradual return to revenue growth, ongoing competitive
challenges to restore operating profitability, and more severe
operating losses and negative free cash flow through 2016 than we
had previously forecast, despite recent improvements to its
liquidity," said Standard & Poor's credit analyst John Moore.

As reported by the TCR on June 5, 2014, Fitch Ratings had upgraded
the long-term Issuer Default Rating (IDR) for AMD (NYSE: AMD) to
'B-' from 'CCC'.  The upgrade primarily reflects AMD's improved
financial flexibility from recent refinancing activity, which
extends meaningful debt maturities until 2019.

In July 2015, Moody's Investors Service lowered Advanced Micro
Devices, Inc's ("AMD") corporate family rating to Caa1 from B3, and
the ratings on the senior unsecured notes to Caa2 from Caa1.  
The downgrade of the corporate family rating to Caa1 reflects AMD's
prospects for ongoing operating losses over the next year and
negative free cash flow.


AMERICAN APPAREL: Ex-CEO Charney to Testify at Chapter 11 Trial
---------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Dov Charney,
the former American Apparel chief executive who was terminated for
alleged misconduct, will be allowed to testify at a trial over the
retailer's financial restructuring plan, according to a letter
filed on Jan. 14, 2016, by a Delaware bankruptcy judge.

U.S. Bankruptcy Judge Brendan Shannon said in a letter that he will
permit several witnesses Charney intends to call -- a list that
includes Charney himself -- at a confirmation hearing over American
Apparel's Chapter 11 plan.

                      About American Apparel

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

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

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

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


AMERICAN APPAREL: Opens Final Takeover Fight with Dov Charney
-------------------------------------------------------------
Steven Church, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that American Apparel Inc.'s fired Chief Executive Officer
Dov Charney spent the morning of Jan. 20 listening to his
replacement describe the mess she said she found after taking the
reins at the struggling clothing retailer.

According to the report, at a hearing in Delaware bankruptcy court,
Charney will try to persuade the judge to throw out the company's
proposed reorganization plan in favor of one that lets him return
to the company he created.

Current CEO Paula Schneider got the first word in Wilmington,
testifying about the financial and organizational disarray she said
she encountered last year when she was hired after the board ousted
Charney, the report related.  While Charney was in charge, too many
managers needed his approval to do anything, she said, the report
further related.

Charney is scheduled to testify to back up his claim that the board
is sabotaging his effort to bring in buyers willing to improve on
the Los Angeles-based company’s current reorganization plan, the
report said.  Under that proposal, senior lenders will trade their
debt for control of the company, reducing its liabilities by about
$200 million, the report added.

                      About American Apparel

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

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

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

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


APOLLO MEDICAL: Appoints Mark Fawcett to Board of Directors
-----------------------------------------------------------
Apollo Medical Holdings, Inc., announced the appointment of Mark
Fawcett as an independent member of its Board of Directors.

Mr. Fawcett is currently a senior vice president and treasurer of
Fresenius Medical Care, which he joined in 2002.  As treasurer,
Mark raises capital in the bank, bond and equity-linked markets. He
is also integral in mergers and acquisitions, foreign exchange and
interest rate risk management.  In the U.S., Mark manages all
Treasury functions from cash management to joint ventures and
project finance.

Prior to Fresenius, Mark was director in Corporate Finance at
BankBoston (acquired by Fleet and then by Bank of America), joining
in 1997.  Activities included capital raising, mergers and
acquisitions, derivatives and all ancillary banking activities,
including cash management, shareholder services, trust and
custody.

Mr. Fawcett entered corporate banking with Bank of New York in 1993
and rose through various positions of responsibility.  Prior to
corporate banking, he was an investment banker with Merrill Lynch
in New York and London.  His role in investment banking began in
1988 and focused mainly on capital raising in public and private
markets as well as mergers and acquisitions.

Mr. Fawcett graduated with a B.A. in psychology from Wesleyan
University and an MBA from Columbia Business School with a dual
concentration in finance and management.

"We are honored to have Mark join our Board of Directors," stated
Warren Hosseinion, MD, chief executive officer of Apollo Medical
Holdings.  "His wealth of experience in capital raising, corporate
finance and M&A will prove invaluable to us as we continue to
execute on our growth strategy."

"On behalf of the Board, we welcome Mark to the leadership team and
thank Fresenius Medical Care for their continued support and
partnership," stated Gary Augusta, executive chairman of Apollo
Medical Holdings.  "Mark further advances the financial and
healthcare experience of the ApolloMed Board and is another key
addition as we add more leadership capabilities to support the
Company's growth."

"I thank the Board for its confidence and look forward to helping
ApolloMed move towards its bright future," stated Mark Fawcett,
senior vice president and treasurer of Fresenius Medical Care.

Pursuant to his Directors Agreement, Mr. Fawcett or his designee
will be entitled to $1,000 per month as compensation in full for
such director's service on the Board and any committees thereof;
provided that to the extent such Board services require out-of-town
trips, the Company will compensate Mr. Fawcett or his designee for
such additional travel time on the part of Mr. Fawcett at the rate
of $1,200 per day or a pro-rated portion thereof.  The Company will
also reimburse Mr. Fawcett or his designee for reasonable expenses
approved in advance, such approval not to be unreasonably withheld
by the Company.  The Indemnification Agreement with Mr. Fawcett
will provide for indemnification and related rights in connection
with Mr. Fawcett's service as a director of the Company.

                      About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss attributable to the Company of
$1.8 million on $32.9 million of net revenues for the year ended
March 31, 2015, compared to a net loss attributable to the Company
of $5 million on $10.5 million of net revenues for the year ended
Jan. 31, 2014.

As of Sept. 30, 2015, the Company had $13.64 million in total
assets, $17.60 million in total liabilities and a total
stockholders' deficit of $3.95 million.


APOLLO MEDICAL: Appoints Thomas Lam to Board of Directors
---------------------------------------------------------
Apollo Medical Holdings, Inc., announced the appointment of Thomas
Lam, M.D. to its Board of Directors.

Dr. Lam is currently chief executive officer of Network Medical
Management, Inc. and chief financial officer of Allied Pacific of
California IPA.  Founded in 1994 and headquartered in Alhambra,
California, NMM is a leading physician-led Management Services
Organization that delivers comprehensive healthcare management
services to a client base consisting of health plans, independent
practice associations, hospitals, physicians and other health care
networks.  NMM currently is responsible for coordinating the care
for over 600,000 covered patients in Southern, Central and Northern
California through a network of over 12 IPAs with over 4500
contracted physicians.  APC, founded in 1992, and its affiliated
medical groups are one of the largest independent physician
associations in California, with an enrollment of over 500,000
patients under capitation.

Dr. Lam has been on the Governing Board of Garfield Medical Center
in Monterey Park, CA since 2010.  He was the recipient of the
Corporate Citizen of the Year Award by the Board of Directors of
the East Los Angeles College Foundation in April 2014, and was also
the recipient of the Heart of the Community Award by the Board of
Directors of the YMCA West San Gabriel Valley chapter in February
2015.

Born in Hong Kong and raised in California, Dr. Lam is a board
certified gastroenterologist who received internal medicine and
gastroenterology training from New York Medical College and
Georgetown University School of Medicine.

"We are thrilled to welcome Tom to our Board of Directors and look
forward to our partnership with Network Medical Management, Allied
Pacific IPA and Allied's physicians," stated Warren Hosseinion, MD,
Chief Executive Officer of Apollo Medical Holdings.  "He brings a
wealth of industry and financial experience from his successful
career as CEO and CFO of healthcare enterprises with over $500
million in revenues."

"On behalf of the Board, we welcome Dr. Lam to the leadership
team," stated Gary Augusta, executive chairman of Apollo Medical
Holdings.  "He strengthens our breadth of capitated
risk-reimbursement expertise at the Board level and furthers our
relationship since Network Medical Management's investment in
ApolloMed in late 2015."

"I am delighted to join the Board.  We are excited with our
partnership with ApolloMed and have begun working on multiple
projects together," stated Thomas Lam, M.D., chief executive
officer of Network Medical Management, Inc.  "I have tremendous
respect for the Company's ability to innovate and look forward to
contributing to its continued success."

Pursuant to his Directors Agreement, Dr. Lam is entitled to $1,000
per month as compensation in full for such director's service on
the Board and any committees thereof; provided that to the extent
those Board services require out-of-town trips, the Company agreed
to compensate Dr. Lam for such additional travel time at the rate
of $1,200 per day or a pro-rated portion thereof.  The Company also
agreed to reimburse Dr. Lam for reasonable expenses approved in
advance, such approval not to be unreasonably withheld by the
Company.  The Indemnification Agreement with Dr. Lam provides for
indemnification and related rights in connection with Dr. Lam's
service as a director of the Company.

                      About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss attributable to the Company of
$1.8 million on $32.9 million of net revenues for the year ended
March 31, 2015, compared to a net loss attributable to the Company
of $5 million on $10.5 million of net revenues for the year ended
Jan. 31, 2014.

As of Sept. 30, 2015, the Company had $13.64 million in total
assets, $17.60 million in total liabilities and a total
stockholders' deficit of $3.95 million.


APOLLO MEDICAL: Inks Indemnification Agreement with Acting CFO
--------------------------------------------------------------
Apollo Medical Holdings, Inc., and William R. Abbott entered into
an indemnification agreement effective as of Sept. 21, 2015, the
date that Mr. Abbott was appointed acting chief financial officer
of the Company upon the resignation of his predecessor.   The
Indemnification Agreement with Mr. Abbott provides for
indemnification and related rights in connection with Mr. Abbott's
service as an executive officer of the Company.

                    About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss attributable to the Company of
$1.8 million on $32.9 million of net revenues for the year ended
March 31, 2015, compared to a net loss attributable to the Company
of $5 million on $10.5 million of net revenues for the year ended
Jan. 31, 2014.

As of Sept. 30, 2015, the Company had $13.64 million in total
assets, $17.60 million in total liabilities and a total
stockholders' deficit of $3.95 million.


APOLLO MEDICAL: Signs Consulting Agreement with Flacane Advisors
----------------------------------------------------------------
Apollo Medical Holding, Inc. entered into a consulting agreement
with Flacane Advisors, Inc. of which Gary Augusta, executive
chairman of the Board, is the sole shareholder, to replace a
substantially similar Consulting and Representation Agreement that
expired by its terms on Dec. 31, 2015.  Under the Consulting
Agreement, the Consultant is entitled to a signing bonus of
$30,000, is paid $25,000 per month, and is also eligible to receive
options to purchase shares of the Company's common stock as
determined by the Board.  The Consultant, through the services of
Mr. Augusta, provides business and strategic services and makes
Gary Augusta available to serve as the Company's executive chairman
of the Board.

                       About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss attributable to the Company of
$1.8 million on $32.9 million of net revenues for the year ended
March 31, 2015, compared to a net loss attributable to the Company
of $5 million on $10.5 million of net revenues for the year ended
Jan. 31, 2014.

As of Sept. 30, 2015, the Company had $13.64 million in total
assets, $17.60 million in total liabilities and a total
stockholders' deficit of $3.95 million.


APOLLO MEDICAL: Unit Amends Employment Agreement with CEO & CMO
---------------------------------------------------------------
Apollo Medical Holding, Inc.'s wholly owned subsidiary, Apollo
Medical Management, Inc., entered into a First Amendment to
Employment Agreement with each of Warren Hosseinion, M.D., the
Company's chief executive officer and a director, and Adrian
Vazquez, M.D., the Company's chief medical officer.  These
agreements amend the Employment Agreements dated March 28, 2014
with each such person to provide for the payment of an incentive
bonus in the amount of $30,000 to Dr. Hosseinion and $15,000 to Dr.
Vazquez, and to provide that unused paid time off (up to 20 days
per year) will be paid in cash.

                       About Apollo Medical

Glendale, Calif.-based Apollo Medical Holdings, Inc., provides
hospitalist services in the Greater Los Angeles, California area.
Hospitalist medicine is organized around the admission and care of
patients in an inpatient facility such as a hospital or skilled
nursing facility and is focused on providing, managing and
coordinating the care of hospitalized patients.

Apollo Medical reported a net loss attributable to the Company of
$1.8 million on $32.9 million of net revenues for the year ended
March 31, 2015, compared to a net loss attributable to the Company
of $5 million on $10.5 million of net revenues for the year ended
Jan. 31, 2014.

As of Sept. 30, 2015, the Company had $13.64 million in total
assets, $17.60 million in total liabilities and a total
stockholders' deficit of $3.95 million.


ARROYO VISION: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Arroyo Vision Care, LLC
        7447 N Figueroa St, Ste 200
        Los Angeles, CA 90041

Case No.: 16-10742

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: 16-10742

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

Judge: Hon. Sheri Bluebond

Debtor's Counsel: Michael D Kwasigroch, Esq.
                  MICHAEL KWASIGROCH LAW FIRM
                  1975 Royal Ave, Ste 4
                  Simi Valley, CA 93065
                  Tel: 805-522-1800
                  Fax: 805-293-8665
                  Email: attorneyforlife@aol.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gary Lefkowitz, CEO.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-10742.pdf


ATLANTIC CITY, NJ: Considering Bankruptcy Filing, Mayor Says
------------------------------------------------------------
Terrence Dopp, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that Atlantic City is considering a bankruptcy filing
after New Jersey Governor Chris Christie vetoed legislation aimed
at shoring up the finances of the distressed casino resort.

According to the report, Mayor Don Guardian said he expects to call
an emergency meeting for next week to discuss the city's options.
He and Council President Marty Small spoke to reporters in Trenton
after an hour-long meeting with Assembly Speaker Vincent Prieto,
the report related.  Lawmakers are considering a state takeover of
the city as well as ending its four-decade monopoly on gambling in
New Jersey, the report said.

Christie, a second-term Republican running for president, declined
to take action on bills that that would have diverted some gambling
funds to the city, the report related.  The rejection came after
the Democratic-controlled legislature complied with the changes he
suggested, the report further related.

                   *     *     *

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

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


ATLAS AMERICA 27-2006: Incurs Net Loss, Raises Going Concern Doubt
------------------------------------------------------------------
Atlas America Series 27-2006 L.P. incurred a net loss of $1,479,500
for the three months ended September 30, 2015, compared with a net
loss of $119,400 for the same period in 2014.

Moreover, cash flows from operating activities decreased $513,100
in the nine months ended September 30, 2015 to cash used in
operating activities of $300 as compared to cash provided by
operating activities of $512,800 for the nine months ended
September 30, 2014.

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

Cash used in financing activities was $575,600 for the nine months
ended September 30, 2014 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, related that the MGP may withhold
funds for future plugging and abandonment costs.  Through September
30, 2015, the MGP has withheld $45,500 of funds for this purpose.

Messrs. Kotek and Slotterback continued: "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, according to the officers.

At September 30, 2015, the partnership had total assets of
$2,094,400 and total partners' deficit of $2,699,900.

A full-text copy of the partnership's quarterly report is available
for free at: http://tinyurl.com/hst73wy

Pittsburgh-based Atlas America Series 27-2006 L.P. is a Delaware
limited partnership, formed on July 21, 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 partnership has drilled and currently operates wells located in
New York, Pennsylvania and Tennessee.


ATLAS RESOURCES 16-2007(A): Management Raises Going Concern Doubt
-----------------------------------------------------------------
Atlas Resources Public #16-2007 (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.

The partnership posted a net loss of $3,221,200 for the three
months ended September 30, 2015 as compared with a net loss of
$448,800 for the same period in 2014.  At September 30, 2015, the
partnership had total assets of $7,642,800 and total partners'
deficit of $5,919,600.

Cash provided by operating activities decreased $1,365,100 in the
nine months ended September 30, 2015 to $303,800 as compared to
$1,668,900 for the nine months ended September 30, 2014.  

Cash provided by investing activities was $700 for the nine months
ended September 30, 2015 from the sale of tangible equipment.  Cash
used by investing activities was $79,900 for the nine months ended
September 30, 2014 due to the purchase of tangible equipment of
$90,200 net of proceeds from the sale of tangible equipment of
$10,300.

Cash used in financing activities decreased $1,540,900 during the
nine months ended September 30, 2015 to $304,500 from $1,845,400
for the nine months ended September 30, 2014.  This decrease was
due to a decrease in cash distributions to partners.

The MGP may withhold funds for future plugging and abandonment
costs.  Through September 30, 2015, the MGP withheld $284,500 of
funds for this purpose.

Messrs. Kotek and Slotterback related: "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/gs67ucz

Atlas Resources Public #16-2007 (A) L.P. is a Delaware limited
partnership, formed on September 15, 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, New York, Tennessee, West Virginia
and Ohio.


ATLAS RESOURCES 17-2007(A): Cites Going Concern Doubt, Net Loss
---------------------------------------------------------------
Atlas Resources Public #17-2007 (A) L.P. reported a net loss of
$2,715,800 for the three months ended September 30, 2015, as
compared with a net income of $24,400 for the same period in 2014.
At September 30, 2015, the partnership had total assets of
$5,119,000 and total partners' deficit of $2,624,200.

Cash provided by operating activities decreased $1,623,900 in the
nine months ended September 30, 2015 to $415,300 as compared to
$2,039,200 for the nine months ended September 30, 2014.  

Cash provided by investing activities was $200 for the nine months
ended September 30, 2015 due to the proceeds of tangible equipment.
Cash provided by investing activities was $11,400 for the nine
months ended September 30, 2014 representing the net of $2,500 for
the purchase of tangible equipment and $13,900 in proceeds from the
sale of tangible equipment.

Cash used in financing activities decreased $1,893,000 during the
nine months ended September 30, 2015 to $402,300 from $2,295,300
for the nine months ended September 30, 2014.  This decrease was
due to a decrease in 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 regulatory filing with the U.S. Securities and Exchange
Commission dated November 23, 2015, disclosed that the MGP may
withhold funds for future plugging and abandonment costs.  Through
September 30, 2015, the MGP has withheld $188,400 of funds for this
purpose.

The officers related: "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/j4xcb34

Pittsburgh-based Atlas Resources Public #17-2007 (A) L.P. is a
Delaware limited partnership, formed on May 7, 2007 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, Tennessee and West Virginia.  It has no employees and
rely on its MGP for management, which in turn, relies on its parent
company, Atlas Energy Group, LLC (February 27, 2015 and prior,
Atlas Energy, L.P.), for administrative services.


ATLAS RESOURCES 17-2008(B): Management Raises Going Concern Doubt
-----------------------------------------------------------------
Atlas Resources Public #17-2008 (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, 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.

Cash provided by operating activities decreased $2,678,000 in the
nine months ended September 30, 2015 to $218,900 as compared to
$2,896,900 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 $3,900 for the nine months ended September 30, 2014
due to proceeds from the sale of tangible equipment.

Cash used in financing activities decreased $2,945,200 during the
nine months ended September 30, 2015 to $218,900 from $3,164,100
for the nine months ended September 30, 2014.  This decrease was
due to a decrease in cash distributions to partners.

The MGP may withhold funds for future plugging and abandonment
costs.  Through September 30, 2015, the MGP has withheld $220,000
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," Messrs.
Kotek and Slotterback pointed out.

"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
$6,298,200 and total partners' deficit of $4,018,400.

For the three months ended September 30, 2015, the partnership
incurred a net loss of $5,412,300 as compared with a net loss of
$375,900 for the three-month period ended September 30, 2014.

A full-text copy of the partnership's quarterly report is available
for free at: http://tinyurl.com/hale6xh

Atlas Resources Public #17-2008 (B) L.P. is a Delaware limited
partnership, formed on May 7, 2007 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 RESOURCES 18-2008(A): Cites Net Loss, Going Concern Doubt
---------------------------------------------------------------
Atlas Resources Public #18-2008 (A) L.P. posted a net loss of
$966,600 for the three months ended September 30, 2015, compared
with a net loss of $444,800 for the same period in 2014.

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 dated November 23, 2015, noted that cash provided by
operating activities decreased $1,444,000 in the nine months ended
September 30, 2015 to $122,700 as compared to $1,566,700 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
$1,001,200, resulting from proceeds from the sale of miscellaneous
tangible equipment of $1,100 and the proceeds from the sale of the
partnership's Michigan oil and gas properties of $1,003,800,
partially offset by a purchase of tangible equipment of $3,700.

Cash used in financing activities decreased $2,708,600 during the
nine months ended September 30, 2015 to $167,600 from $2,876,200
for the nine months ended September 30, 2014. This decrease was due
to a decrease in cash distributions to partners.

The MGP may withhold funds for future plugging and abandonment
costs.  Through September 30, 2015, the MGP has withheld $163,400
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
$6,472,400 and total partners' capital of $1,923,900.

A full-text copy of the partnership's quarterly report is available
for free at: http://tinyurl.com/zb7cjoq

Pittsburgh-based Atlas Resources Public #18-2008 (A) L.P. is a
Delaware limited partnership, formed on April 8, 2008 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, Tennessee, Indiana, West Virginia and Ohio.



ATLAS RESOURCES 18-2009(B): Admits Going Concern Doubt
------------------------------------------------------
Atlas Resources Public #18-2009 (B) L.P.'s managing general partner
(MGP) noted 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 dated November 23, 2015.

For the three months ended September 30, 2015, the partnership
reported a net loss of $15,435,500 as compared with a net loss of
$316,000 for the three months ended September 30, 2014.

Cash provided by operating activities decreased $2,233,400 in the
nine months ended September 30, 2015 to $1,088,300 as compared to
$3,321,700 for the nine months ended September 30, 2014.

Cash provided by investing activities was $3,300 for the nine
months ended September 30, 2015 resulting from proceeds from the
sale of tangible equipment.  Cash provided by investing activities
was $372,600 for the nine months ended September 30, 2014 resulting
from proceeds from the sale of miscellaneous tangible equipment of
$8,100 and the proceeds from the sale of the partnership's Michigan
oil and gas properties of $369,000, partially offset by a purchase
of tangible equipment of $4,500.

Cash used in financing activities decreased $2,956,500 during the
nine months ended September 30, 2015 to $1,091,600 from $4,048,100
for the nine months ended September 30, 2014.  This decrease was
due to a decrease in cash distributions to partners.

Messrs. Kotek and Slotterback elaborated: "Our MGP may withhold
funds for future plugging and abandonment costs.  Through September
30, 2015, our MGP has withheld $54,500 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
$6,420,000 and total partners' capital of $4,344,300.

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

Based in Pittsburgh, Atlas Resources Public #18-2009 (B) L.P. is a
Delaware limited partnership, formed on April 8, 2008 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, Tennessee, and Indiana.



BEYOND GROUP: Case Summary & 6 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Beyond Group, LLC
        9615 N.W. 8th Circle
        Plantation, FL 33324

Case No.: 16-10825

Chapter 11 Petition Date: January 20, 2016

Court: United States Bankruptcy Court
       Southern District of Florida (Fort Lauderdale)

Judge: Hon. Raymond B Ray

Debtor's Counsel: Demetrios C Kirkiles, Esq.
                  LAW FIRM OF DEMETRIOS C. KIRKILES, ESQ.
                  1619 S Andrews Ave
                  Ft. Lauderdale, FL 33316
                  Tel: (954) 463-6500
                  Email: kirkileslaw@bellsouth.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $0 to $50,000

The petition was signed by Ducarmel Labaze, managing member.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb16-10825.pdf


BG MEDICINE: Empery Asset, et al., Hold 4.9% Stake as of Dec. 31
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Empery Asset Management, LP, Ryan M. Lane and Martin D.
Hoe disclosed that as of Dec. 31, 2015, they beneficially own
617,173 shares of common stock of BG Medicine, Inc., representing
4.99 percent of the shares outstanding.  A copy of the regulatory
filing is available for free at http://is.gd/z8pVqU

                         About BG Medicine

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

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

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

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


BKH ACQUISITION: S&P Assigns 'B-' CCR, Outlook Negative
-------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B-' corporate
credit rating to BKH Acquisition Corp.  The outlook is negative.

"We affirmed our 'B-' issue-level ratings on the company's $10
million revolver and $142.2 million first-lien term loan.  The
recovery rating is '3', indicating our expectation for meaningful
recovery of principal in the event of a payment default at the high
end of the 50% to 70% range.  We also affirmed our 'CCC'
issue-level rating on the company's $50 million second-lien term
loan.  The recovery rating is '6', indicating our expectation for
negligible recovery (0% to 10%) of principal in the event of a
payment default," S&P said.

S&P previously withdrew its 'B-' corporate credit rating on
subsidiary Caribbean Restaurants LLC.

"Our assessment of BKH's business risk profile reflects its
concentrated operations of Burger King restaurants in economically
challenged Puerto Rico, participation in the overall intensely
competitive quick service restaurant (QSR) environment, and limited
brand diversity," said credit analyst Olya Naumova. "Although BKH
enjoys leading market share position in Puerto Rico, the company
closed two Burger King stores per year since 2014 and now projects
closing two to three restaurants per year going forward.   The
assessment also incorporates the company's ability to maintain its
leading QSR market share and proactively manage its costs over the
coming year."

The negative outlook on BKH reflects S&P's expectation that weak
economic conditions in Puerto Rico and uncertainty around the
possible congressional bankruptcy legislature will continue to
pressure already volatile performance in the next 12 months.  The
company's second-lien partial PIK debt and high interest expense
will further burden company's interest coverage and leverage
ratios.

S&P would lower the ratings if significant contraction in Puerto
Rico's economy and subsequent diminishing purchasing power of its
population together with high competitive pressures lead to "less
than adequate" liquidity and inadequate covenant headroom.  This
could happen if same-store sales decline 10%, gross margin further
shrinks 200 basis points, and the interest coverage ratio remains
at or below 1.0x.

An upgrade is unlikely in the coming year.  S&P could revise the
outlook back to stable if the company improves its operating
performance through continued revenue and comparable store growth
leading to stable credit metrics.  Stabilization or improvement in
the local economy together with an ability to expand gross margins
and deleverage at least one to two turns would be necessary for
this outcome.



BLUE SUN ST. JOE: Objects to Panel's Bid to Terminate Exclusivity
-----------------------------------------------------------------
Blue Sun St. Joe Refining, LLC, et al., opposed the emergency
motion of the Official Committee of Unsecured Creditors asking the
bankruptcy court to terminate the Debtors' exclusive periods.

The Debtors contended that they are still within the applicable
exclusivity periods, and there is no basis to disrupt the balance
struck by Congress to provide a debtor in possession the exclusive
opportunity to timely present and confirm a Chapter 11 Plan.

The Debtors related that they have communicated with key creditors
and interested parties.  As a result of these communications, the
Debtors have made significant progress in negotiations with a
number of creditors and interested parties.  Accordingly, the
Debtors explained that it had recently reached an agreement with
Nodaway and Terra that will significantly decrease the
administrative burden on the estate, as well as pave the way for
confirmation of the Debtors' pending Chapter 11 Plan.

The settlement, according to the Debtors, provides at least the
following benefits to the estate: (i) $115,000 savings on December
rent, (ii) elimination of approximately $175,000 administrative
claim for real and personal property taxes due under the Terra
Lease, (iii) elimination of at least a $100,000 administrative
claim under the Terra Lease for post-petition payments to Farnum
Street Financial, (iv) elimination a potential $1.5 million plus
administrative claim for rejection of the Terra Lease, and (v)
avoidance of conversion of the cases and facilitation an auction of
the Debtors' assets with the possibility of generating value over
and above the existing secured claims. The eliminated
administrative expenses also make it possible for the Debtors to
confirm their proposed liquidating plan.

On the other hand, the Committee had been anything but solution
oriented in the Case, filing objections without offering viable
alternatives, changing course repeatedly, and increasing the
administrative burden on this estate, the Debtors complained.  The
Committee's nebulous and unsupported assertion of a "viable
alternative" of a proposed relief would substantially increase the
administrative burden on the estate with respect to plan
preparation, prosecution, and confirmation, the Debtors said.
Moreover, the Committee's proposed "plan," which is nothing more
than a few sentences in the Motion describing a "plan that calls
for a marketing and sale process" is a mirror of the process
already underway pursuant to the Debtors' Plan, and would do
nothing more than duplicate efforts and expense by adding an
additional layer of administrative expense, the Debtors
criticized.

Blue Sun St. Joe Refining, LLC, et al. are represented by:

          Jeffrey A. Deines, Esq.
          Shane J. McCall, Esq.
          LENTZ CLARK DEINES, PA
          9260 Glenwood
          Overland Park, KS 66212
          Telephone: (913) 648-0600
          Facsimile: (913) 648-0664
          Email: jdeines@lcdlaw.com
                 smccall@lcdlaw.com

          -- and --

          John R. Clemency, Esq.
          Todd A. Burgess, Esq.
          Lindsi M. Weber, Esq.
          GALLAGHER & KENNEDY, P.A.
          2575 East Camelback Road
          Phoenix, Arizona 85016-9225
          Telephone: (602) 530-8000
          Facsimile: (602) 530-8500
          Email: john.clemency@gknet.com
                 todd.burgess@gknet.com
                 lindsi.weber@gknet.com

             About Blue Sun St. Joe

Originally founded in 2001 as SunFuels, Inc., privately-held Blue
Sun Energy Inc. introduced biodiesel into the existing petroleum
fuels pool by focusing on an integrated approach to addressing
market needs.  In 2004, Blue Sun Energy developed the proprietary
Fusion(TM) brand of biodiesel fuel.  Early in 2012, Blue Sun
Biodiesel also established a downstream terminal presence for
biodiesel blending in Knoxville, TN.  In 2012, Blue Sun St. Joe
Refining began operating the St. Joe refinery to produce
high-quality biodiesel for wholesale distribution.

Blue Sun St. Joe Refining, LLC, and its three affiliates sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. W.D.
Mo., Case No. 15-42231) on July 31, 2015.  The cases are assigned
to Judge Arthur B. Federman.

The Debtors engaged as bankruptcy counsel Jeffrey A. Deines, Esq.,
at Lentz Clark Deines PA, in Overland Park, Kansas; and Todd A.
Burgess, Esq., John R. Clemency, Esq., and Lindsi M. Weber, Esq.,
at Gallagher & Kennedy, P.A., in Phoenix, Arizona.  MCA Financial
Group, Ltd. serves as their financial advisors.

The Official Committee of Unsecured Creditors retained Stinson
Leonard Street LLP as its counsel.


CAPITOL LAKES: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Capitol Lakes, Inc.
        333 W. Main Street
        Madison, WI 53703

Case No.: 16-10158

Chapter 11 Petition Date: January 20, 2016

Court: United States Bankruptcy Court
       Western District of Wisconsin

Debtor's Counsel: Thomas R. Califano, Esq.
                  DLA PIPER LLP
                  1251 Avenue of the Americas, 27 FL
                  New York, NY 10020
                  Tel: 212-335-4990
                  Email: thomas.califano@dlapiper.com

Debtor's          CAIN BROTHERS & COMPANY, LLC
Financial
Advisor:

Estimated Assets: $50 million to $100 million

Estimated Debts: $100 million to $500 million

The petition was signed by Tim Conroy, executive director.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Pacific Retirement Services, Inc.  Management Fees    $3,153,607
1 W Main, Suite 303
Medford, OR 97501

McGann Construction, Inc.               Trade           $186,609
3622 Lexington Ave
Madison, WI 53714

RBC Capital Markets                  Professional       $114,615
130 N 18 th Street                       Fees
Philadelphia, PA 19103

Sysco Foods of Baraboo LLC              Trade            $81,246

Ballard Spahr LLP                    Professional        $54,368
                                         Fees

Mallatt Homecare Pharmacy                Trade           $46,426

Schindler Elevator Corp.                 Trade           $36,971

City of Madison Treasurer                Trade           $26,436

Cintas Corporation                       Trade           $24,801

Dierks/Waukesha Wholesale Foods          Trade           $23,653

WI Department of Health & Family         Trade           $14,450

Creative Solutions 4, LLC                Trade           $14,019

Piper Jaffray                         Professional        $9,454
                                         Fees

Empire Fish Company                      Trade            $8,762

General Beverage Sales Corp.             Trade            $7,936

Charter Communications                   Trade            $7,438

UW Medical Foundation                    Trade            $7,324
Finance Department

Medline Industries, Inc.                 Trade            $6,100

Scott Knepfel Electric, Inc.             Trade            $5,424

Main Street Parking Condo                Trade            $4,974
Owners Assoc


CATASYS INC: Files Copy of 2016 Investor Presentation with SEC
--------------------------------------------------------------
Catasys, Inc., filed with the Securities and Exchange Commission a
copy of its January 2016 investor presentation which describes,
among other things, the Company's business overview, current
clients, growth opportunity, growth strategy and investment
highlights.   A copy of the Presentation is available at:

                        http://is.gd/gONK9L

                         About Catasys Inc.

Based in Los Angeles, California, Hythiam, Inc., n/k/a Catasys,
Inc., is a healthcare services management company, providing
through its Catasys(R) subsidiary specialized behavioral health
management services for substance abuse to health plans.

Catasys reported a loss of $27.3 million on $2.03 million of
healthcare services revenues for the 12 months ended Dec. 31, 2014,
compared to a loss of $4.67 million on $754,000 of healthcare
services revenues for the 12 months ended Dec. 31, 2013.

Rose, Snyder & Jacobs LLP, in Encino, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has continued
to incur significant operating losses and negative cash flows from
operations during the year ended Dec. 31, 2014.  These conditions
raise substantial doubt about the Company's ability to continue as
a going concern.

As of Sept. 30, 2015, the Company had $1.92 million in total
assets, $14.02 million in total liabilities and total stockholders'
deficit of $12.09 million.

                        Bankruptcy Warning

"[W]e currently expend cash at a rate of approximately $450,000 per
month, excluding non-current accrued liability payments.  We also
anticipate cash inflow to increase during 2015 as we continue to
service our executed contracts and sign new contracts.  We expect
our current cash resources to cover our operations through the
first quarter of 2015; however delays in cash collections, revenue,
or unforeseen expenditures could impact this estimate.  We are in
need of additional capital, however, there is no assurance that
additional capital can be timely raised in an amount which is
sufficient for us or on terms favorable to us and our stockholders,
if at all.  If we do not obtain additional capital, there is a
significant doubt as to whether we can continue to operate as a
going concern and we will need to curtail or cease operations or
seek bankruptcy relief.  If we discontinue operations, we may not
have sufficient funds to pay any amounts to our stockholders," the
Company states in its quarterly report for the period ended Sept.
30, 2015.


CHICAGO STATE UNIVERSITY: May Go Broke Over State Budget War
------------------------------------------------------------
Brian Chappatta, Kate Smith and Elizabeth Campbell, writing for
Bloomberg Brief - Distress & Bankruptcy, reported that Chicago
State University, a university in Chicago's South Side is on the
brink of running out of money as soon as March because of
Illinois's budget impasse, providing the most prominent example yet
of the consequences of the seven-month political standoff.

According to the report, the 5,200-student institution founded in
1867, is considering drawing up a financial exigency plan,
equivalent to college bankruptcy, as soon as next month, according
to Tom Wogan, a spokesman.  The move would be a first step to keep
the school afloat as it hemorrhages cash to cover the loss of state
funds, the report related.  All options are on the table to get
through the current semester, including missing payments on $12
million of outstanding tax-exempt bonds, he said, the report
added.

The school, with a 70 percent black student body, would become the
most visible casualty of the stalemate between Republican Governor
Bruce Rauner, a former private-equity executive, and legislative
Democrats, with leaders from Chicago, over a spending plan for the
year that began July 1, the report noted.  While other public
universities can draw on endowments or raise funds from alumni as
the impasse persists, that's not the case at Chicago State, whose
students count on federal and state grants, the report noted.


CHICAGO, IL: GOP Sees State Takeover, Bankruptcy for Schools
------------------------------------------------------------
Elizabeth Campbell, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that Chicago's public school system should be
taken over by the state and potentially file for bankruptcy to
escape from its debts, Illinois Republican leaders said, escalating
the partisan political clash over the district’s mounting
financial strains.

According to the report, the Chicago Board of Education, the
nation's third-largest district, is under fiscal siege because of
soaring pension obligations.  Its teachers union is threatening to
strike, layoffs are looming, and without changes its operating
deficit is projected to reach $1 billion a year through 2020, the
report related.  Christine Radogno and Jim Durkin, the state's top
Republicans in the legislature, outlined a proposal on Jan. 20 that
would allow the state to take control and even push the system,
charged with educating almost 400,000 students, into Chapter 9, the
report further related.

Illinois Governor Bruce Rauner, a Republican who has been at odds
for months with the Democrat-controlled legislature over the state
budget, has said he won't bail out Chicago's school system unless
Mayor Rahm Emanuel supports limits on unions or other proposals
he's seeking to enact, the report said.  The mayor and district
Chief Executive Officer Forrest Claypool have called for aid,
noting that the schools receive less state money than other
Illinois districts, the report added.


COLT DEFENSE: Reorganization Plan Declared Effective
----------------------------------------------------
BankruptcyData reported that Colt Defense's Modified Second Amended
Joint Plan of Reorganization became effective, and the Company
emerged from Chapter 11 protection.

The Plan was confirmed on Dec. 16, 2015, and the Court approved
modifications to the confirmed Plan on Jan. 12, 2016.  The
confirmation order states, "If the Sciens Group does not fund
$15 million in the aggregate on Feb. 8, 2016, in accordance with
the Commitment Term Sheet and Sections 5.4 (a) of the Plan, each
holder of an allowed claim in class 4-A (Senior notes claims of
participating holders), and Class 6 (General Unsecured claims),
other than the Plan Support Parties, will not be deemed to have
granted releases in favor of the Sciens Group in accordance with
section 10.4 (b) of the Plan regardless of whether such Holder
failed to opt-out of the releases granted therein on its ballot to
vote on the Plan.  If the Sciens Group funds $15 million in the
aggregate by such date and time, each holder of an allowed claim in
Class 4-A, Class 4-B, and Class 6 who did not opt-out of granting
releases in accordance with the Plan shall be deemed to grant
releases in favor of the Sciens Group, among others, in accordance
with Section 10.4 (b) of the Plan."

Under the Plan, Colt Defense reduced its debt by approximately $200
million, after giving effect to $50 million of new capital raised
through the restructuring process.  In addition, the Company has
executed a long-term lease for its West Hartford Facility and has
entered into a memorandum of understanding with the United Auto
Workers.  Dennis Veilleux, president and C.E.O. of Colt Defense,
comments, "It is with profound appreciation to all of our key
stakeholders that we share that we have completed the restructuring
process and are emerging from Chapter 11 with a solid capital
structure, significantly less debt, and much greater financial
flexibility."  The firearms manufacturer and marketer filed for
Chapter 11 protection on June 14, 2015, listing
$265 million in prepetition assets.

                       About Colt Defense

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

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

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

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

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

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

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

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

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

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

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


DEWEY & LEBOEUF: Citibank Sues Ex-Chair Davis Over Unpaid Loan
--------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Citibank has
sued former Dewey & LeBoeuf LLP Chairman Steven Davis in New York
state court for nearly $400,000 to recover principal, interest and
other expenses on an unpaid loan that was originally taken out for
the benefit of the now-shuttered law firm.

Mr. Davis, like numerous other Dewey partners, took out a loan from
Citibank NA to fund his capital contribution to the law firm.
However, when Dewey filed for bankruptcy in 2012, Mr. Davis became
individually liable for the loan.

                      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.


DYNACAST INT'L: S&P Affirms 'B' CCR, Outlook Stable
---------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'B' corporate credit rating on Charlotte, N.C.–based Dynacast
International LLC.  The outlook is stable.

At the same time, S&P affirmed its 'B' issue-level rating on the
company's $530 million first-lien term loan due 2022 and $50
million revolving credit facility due 2020.  The '3' recovery
rating is unchanged, indicating S&P's expectation for meaningful
recovery (50%-70%; lower half of the range) in the event of a
payment default.

S&P also affirmed its 'B-' issue-level rating on the company's $170
million second-lien term loan due 2023.  The '5' recovery rating is
unchanged, indicating S&P's expectation for modest recovery
(10%-30%; lower half of the range) in the event of a payment
default.

"The affirmation reflects our expectation that headwinds from the
stronger dollar will be offset by a modest improvement in
Dynacast's key end markets, which include the automotive, consumer
electronics, health care, and computer and data communications
industries," said Standard & Poor's credit analyst Jaissy Lorenzo.
S&P believes that Dynacast will continue to generate good
profitability and expect that the company will primarily use its
free cash flow to reduce its debt and fund bolt-on acquisitions.
S&P also expects that the company will gradually reduce its
leverage below 6x over the next 12 months.

The stable outlook reflects S&P's expectation that headwinds from
the stronger dollar will be offset by a modest improvement in most
of Dynacast's end markets in 2016.  S&P expects that Dynacast will
continue to generate good profitability while gradually reducing
its leverage below 6x through earnings growth.

S&P could lower its ratings on Dynacast if a cyclical downturn in
the company's primary end markets led to increased competition and
caused the company to post a weak operating performance.  For
example, if automotive vehicle production were to decline
meaningfully and Dynacast's earnings dropped by more than 100 basis
points)--increasing the company's debt-to-EBITDA metric to about
6.5x for a sustained period-- S&P could lower the ratings.
Similarly, if the economic stagnation in Europe causes Dynacast's
earnings to decline and its liquidity to weaken, S&P could lower
our ratings on the company.

S&P would consider upgrading Dynacast if the company can sustain a
debt-to-EBITDA leverage metric of between 5.0x and 5.5x and a
FFO-to-debt ratio of more than 12%, assuming the company adopts a
financial policy that will allow it to maintain these metrics.



EAST COAST TOWING: Case Summary & 20 Top Unsecured Creditors
------------------------------------------------------------
Debtor: East Coast Towing, Inc.
           dba Ivey's Towing & Transport, Inc.
        100 Rupert Road
        Raleigh, NC 27603

Case No.: 16-00314

Chapter 11 Petition Date: January 20, 2016

Court: United States Bankruptcy Court
       Eastern District of North Carolina
       (Raleigh Division)

Debtor's Counsel: Jason L. Hendren, Esq.
                  HENDREN REDWINE & MALONE, PLLC  
                  4600 Marriott Drive, Suite 150
                  Raleigh, NC 27612
                  Tel: 919 573-1422
                  Fax: 919 420-0475
                  Email: jhendren@hendrenmalone.com

                    - and -

                  Rebecca F. Redwine, Esq.
                  HENDREN REDWINE & MALONE, PLLC
                  4600 Marriott Drive, Suite 150
                  Raleigh, NC 27612
                  Tel: 919 420-0941
                  Fax: 919 420-0475
                  Email: rredwine@hendrenmalone.com

Total Assets: $3.97 million

Total Liabilities: $4.15 million

The petition was signed by Jessica Best, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nceb16-00314.pdf


EFRON DORADO: Case Summary & 10 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Efron Dorado Se
        PO Box 29033
        San Juan, PR 00929-0033

Case No.: 16-00283

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 20, 2016

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

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

Total Assets: $33.18 million

Total Debts: $15.15 million

The petition was signed by David Efron, partner.

List of Debtor's 10 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Department of Treasury               Special Tax        $323,927
Bankruptcy Section
PO Box 9024140
Office 424 B
San Juan, PR
00902-4140

Fire Safe Inc.                         Fire               $2,091
                                   Extinguishers

Municipality of Dorado                 Taxes              $5,175


PACO Exterminating Services           Services              $190

PCA Consulting Inc.                   Services           $57,694

Power Com Inc.                      Maintenance           $3,920

PR Acqueduct and Sewer                Services              $963
Authority

PR Electric Power Authority           Services            $5,668

Republic Services Inc.                  Waste               $625
                                      Disposal

WYE Electric Inc.                      Repairs           $13,512


ELEPHANT TALK: Pi-Saffel Reports 14.6% Stake as of Dec. 31
----------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Pi-Saffel disclosed that as of Dec. 31, 2015, it
beneficially owns 23,685,801 shares of common stock of Elephant
Talk Communications, Corp., representing approximately 14.66%
(based on 161,622,287 shares of Common Stock outstanding as of Oct.
31, 2015, the most recent publicly available information of the
Issuer's issued and outstanding shares as of the date of this
filing).  A copy of the regulatory filing is available at:

                        http://is.gd/wawl1g

                        About Elephant Talk

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

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

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


F-SQUARED INVESTMENTS: Plan OK'd, But Bid to Nix $2BB Claim Looms
-----------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge gave the F-Squared Investments Inc. estate the
go-ahead on Jan. 14, 2016, for its Chapter 11 plan, but the Debtor
remains primed to push the court to disallow roughly $2 billion in
unsecured claims from a group of investors suing over its top
financial product.

During a hearing in Wilmington, U.S. Bankruptcy Judge Laurie Selber
Silverstein gave the thumbs up to the plan, which estimates a
recovery of up to 12% for unsecured creditors, and set a hearing to
consider disallowing the investors' claim.

                    About F-Squared Investments

Headquartered in Wellesley, MA, F-Squared Investments, Inc.
-- http://www.f-squaredinvestments.com/-- is a privately owned  
investment manager.  The firm primarily provides its services to
other investment advisers.  It also caters to individuals, high
net
worth individuals, and pension and profit sharing plans.  The firm
provides index management services.  It manages separate
client-focused equity, fixed income, and multi-asset portfolios.
The firm invests in the public equity, fixed income, and
alternative investment markets across the globe.  It makes all its
investments through exchange-traded funds.  The firm invests in
small-cap stocks of companies across diversified sectors.

F-Squared Investment Management, LLC and eight of its affiliates
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case
No.
15-11469) on July 8, 2015.  The petitions were signed by Laura
Dagan, the president and CEO.  The cases are assigned to Laurie
Selber Silverstein.

Richards, Layton & Finger, P.A., serves as the Debtors' counsel.
Gennari Aronson, LLP, is the special corporate counsel.  Grail
Advisory Partners LLC (d/b/a PL Advisors) and Managed Account
Services, LLC act as the Debtors' financial advisors and
investment
bankers.  Stillwater Advisory Group LLC is the Debtors' crisis
managers and restructuring advisors.  BMC Group, Inc. acts as the
Debtors' claims and noticing agent.

The Official Committee of Unsecured Creditors retained Brown
Rudnick LLP and The Rosner Law Group LLC as attorneys.


FINJAN HOLDINGS: US Patent Office Rejects Review on Six Petitions
-----------------------------------------------------------------
Finjan Holdings, Inc., announced that the Patent Trial and Appeal
Board for the United States Patent & Trademark Office denied six of
Symantec Corporations petitions for Inter Partes Review of Finjan
patents with two serial petitions denied on 7,756,996 ('996
Patent), and further denials on Finjan's patents 8,141,154 ('154
Patent), 8,015,182 ('182 Patent), 7,930,299 ('299 Patent) and
7,757,289 ('289 Patent).  The patent lawsuit filed in July of 2014
(CAND-3-14-cv-02998) against Symantec will continue with these and
three other Finjan patents, as originally filed.  The other Finjan
patents in the litigation include, US Patent Nos. 6,154,844,
7,613,926, and 8,677,494.

"This is an unprecedented response by the US Patent Office, today
denying the institution of six IPRs and all challenged claims filed
by Symantec in response to our lawsuit filed against it in 2014,"
stated Phil Hartstein, President and CEO of Finjan.

IPR2015-01548 ('182 Patent): DENIED
IPR2015-01547 ('154 Patent): DENIED
IPR2015-01552 ('289 Patent): DENIED
IPR2105-01549 ('299 Patent): DENIED
IRP2015-01546 ('996 Patent): DENIED
IPR2015-01545 ('996 Patent): DENIED

"Following the recent denials to institute the IPRs filed by
Sophos, this is the eighth consecutive denial of IPR challenges
against Finjan's patents.  This reinforces the value of the
technology covered by our patents and our fervent commitment to
winning on the merits," concluded Hartstein.

Finjan also has pending infringement lawsuits against FireEye,
Inc., Proofpoint Inc., Sophos, Inc., Palo Alto Networks, Inc., and
Blue Coat Systems, Inc. relating to, collectively, more than 20
patents in the Finjan portfolio.  The court dockets for the
foregoing cases are publicly available on the Public Access to
Court Electronic Records (PACER) website, www.pacer.gov, which is
operated by the Administrative Office of the U.S. Courts.

                           About Finjan

Finjan, formerly known as Converted Organics, is a leading online
security and technology company which owns a portfolio of patents,
related to software that proactively detects malicious code and
thereby protects end-users from identity and data theft, spyware,
malware, phishing, trojans and other online threats.  Founded in
1997, Finjan is one of the first companies to develop and patent
technology and software that is capable of detecting previously
unknown and emerging threats on a real-time, behavior-based basis,
in contrast to signature-based methods of intercepting only known
threats to computers, which were previously standard in the online
security industry.

Finjan reported a net loss of $10.47 million in 2014 following a
net loss of $6.07 million in 2013.

As of Sept. 30, 2015, the Company had $9.93 million in total
assets, $2.66 million in total liabilities and $7.27 million in
total stockholders' equity.


FLINTKOTE COMPANY: Aviva Can't Replace Defendant in Insurance Suit
------------------------------------------------------------------
In an Order dated December 21, 2015, which is available a
thttp://is.gd/rOyRVOfrom Leagle.com, Judge Susan Illston of the
United States District Court for the Northern District of
California denied defendant Aviva PLC's motion for substitution of
party and ordered that Ocean Marine Insurance Company Limited and
Aviva International Insurance Limited be joined as defendants to
action involving several insurance policies, including an agreement
concerning asbestos-related claims and a 1989 agreement between The
Flintkote Company and The Commercial Union Assurance Company Ltd.

Despite the complexity of the insurance dispute, the first issue
here is relatively simple: whether defendant Aviva may substitute
The Ocean Marine Insurance Company in its place as the sole
defendant in the action.  Flintkote opposes the substitution on
several grounds and contends that Ocean Marine and AIIL should both
be joined as defendants.

The second issue is whether The Flintkote Company, now undergoing a
bankruptcy plan of reorganization, may add The Flintkote Trust as a
plaintiff, to which the Court answered in the affirmative, granting
the plaintiff's motion to add The Flintkote Trust as a plaintiff in
the action.

The Court will conduct a further Case Management Conference on
January 22, 2016, at 3:00 p.m.

The case is THE FLINTKOTE COMPANY, Plaintiff, v. AVIVA PLC,
Defendant, Case No. 15-cv-01638-SI (N.D. Calif.).

Flintkote Company, Plaintiff, is represented by Marc S. Maister,
Esq. -- mmaister@irell.com -- Irell & Manella LLP, Michael Collins
Smith, Esq. -- McCarter & English, LLP, Cathy Tran Moses, Esq. --
cmoses@irell.com -- Irell and Manella LLP, Gita F. Rothschild,
Louis A. Chiafullo, Esq. -- lchiafullo@mccarter.com -- McCarter and
English & Michael Richard Fehner, Esq. -- mfehner@irell.com --
Irell & Manella LLP.
                                     
Aviva PLC, Defendant, represented by Andrew G. Wanger, Esq. --
andrew.wanger@clydeco.us -- Clyde & Co US, LLP & Arthur J.
McColgan, II, Esq. -- amccolgan@wwmlawyers.com -- Walker Wilcox
Matousek LLP, Fred L. Alvarez, Esq. -- falvarez@wwmlawyers.com --
Walker Wilcox Matousek LLP, Kevin Austin Lahm, Esq. --
klahm@wwmlawyers.com -- Walker Wilcox Matousek LLP & Sarah Wells
Orrick, Esq. -- sarah.orrick@clydeco.us -- Clyde and Co. LLP.

                 About The Flintkote Company

Headquartered in San Francisco, California, The Flintkote Company
is engaged in the business of manufacturing, processing and
distributing building materials.  Flintkote Mines Limited is a
subsidiary of Flintkote Company and is engaged in the mining of
base-precious metals.  The Flintkote Company filed for Chapter 11
protection (Bankr. D. Del. Case No. 04-11300) on April 30, 2004.
Flintkote Mines Limited filed for Chapter 11 relief (Bankr. D.
Del.
Case No. 04-12440) on Aug. 25, 2004.  Kevin T. Lantry, Esq.,
Jeffrey E. Bjork, Esq., Dennis M. Twomey, Esq., Jeremy E.
Rosenthal, Esq., and Christina M. Craige, Esq., at Sidley Austin,
LLP, in Los Angeles; James E. O'Neill, Esq., and Laura Davis
Jones,
Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington, Del.,
represent the Debtors in their restructuring efforts.

Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, N.Y.; Peter Van N. Lockwood, Esq., Ronald E. Reinsel, Esq.,
at Caplin & Drysdale, Chartered, in Washington, D.C.; and Philip
E.
Milch, Esq., at Campbell & Levine, LLC, in Wilmington, Del.,
represent the Asbestos Claimants Committee as counsel.

James J. McMonagle, is the legal representative for future
claimants.  The FCR has retained Dr. Timothy Wyant as claims
evaluation consultant.  The FCR is represented by James L. Patton,
Jr., Esq., and Edwin J. Harron, Esq., at Young Conaway Stargatt &
Taylor, LLP; and Reginald W. Jackson, Esq., at Vorys, Sater,
Seymour & Pease LLP.

When Flintkote filed for protection from its creditors, it
estimated more than $100 million each in assets and debts.  When
Flintkote Mines Limited filed for protection from its creditors,
it
estimated assets of $1 million to $50 million, and debts of more
than $100 million.

The Debtors' Chapter 11 cases have been re-assigned to Judge Mary
F. Walrath in line with the retirement of former Bankruptcy Judge
Judith Fitzgerald.


FREEDOM COMMUNICATIONS: Wins Final Approval to Get $4.5-Mil. Loan
-----------------------------------------------------------------
A federal judge approved a $4.5 million financing to get Freedom
Communications through bankruptcy.

Judge Mark Wallace of the U.S. Bankruptcy Court for the Central
District of California gave final approval to the loan to be
provided by a group of lenders led by Silver Point Finance LLC.

The bankruptcy judge earlier allowed the company to use the
lenders' cash collateral to support its operations.

In exchange for the loan, the lenders will get "superpriority
senior administrative expense" claims and will be granted liens on
some properties of the company, according to court filings.

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

Tribune Publishing Co. and Los Angeles Times Communications LLC,
which offered a $3 million loan to Freedom Communications, had
earlier opposed the company's move to borrow from the lenders
group.  Both argued that they offered better loan terms.  

The creditors dropped their objection after Freedom Communications
and the lenders agreed to improve the terms of the loan, which
include increasing the amount to $4.5 million from the $3 million
originally proposed to ensure the company will have sufficient
funds pending the sale of its assets.

Freedom Communications' official committee of unsecured creditors
supported the new loan terms, according to court filings.  

                   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.


FREESEAS INC: Sold $250,000 Convertible Note to Alpha Capital
-------------------------------------------------------------
FreeSeas Inc. entered into a securities purchase agreement with
Alpha Capital Anstalt, pursuant to which, the Company sold a
$250,000 principal amount convertible note to the Investor for
gross proceeds of $250,000.  The Financing closed on Jan. 15,
2016.

The Note will mature on the one year anniversary of the Closing
Date and will bear interest at the rate of 8% per annum, which will
be payable on the maturity date or any redemption date and may be
paid, in certain conditions, through the issuance of shares, at the
discretion of the Company.

The Note will be convertible into shares of the Company's common
stock, par value $0.001 per share at a conversion price equal to
60% of the lowest volume weighted average price of the Common Stock
during the 21 trading days prior to the conversion date.

If an event of default under the Notes occurs, upon the request of
the holder of the Note, the Company will be required to redeem all
or any portion of the Note (including all accrued and unpaid
interest), in cash, at a price equal to the greater of (i) up to
127.5% of the amount being converted, depending on the nature of
the default, and (ii) the product of (a) the number of shares of
Common Stock issuable upon conversion of the Note, times (b) 127.5%
of the highest closing sale price of the Common Stock during the
period beginning on the date immediately preceding such event of
default and ending on the trading day that the redemption price is
paid by the Company.

The Company has the right, at any time, to redeem all, but not less
than all, of the outstanding Note, upon not less than 30 days nor
more than 90 days prior written notice.  The redemption price will
equal 127.5% of the amount of principal and interest being
redeemed.

The convertibility of the Note may be limited if, upon conversion
or exercise (as the case may be), the holder thereof or any of its
affiliates would beneficially own more than 4.99% of the Common
Stock.

So long as the Note is outstanding, the Company is prohibited from
entering into any transaction to (i) sell any common stock or
securities convertible into or exercisable for the Company's common
stock pursuant to (A) Regulation S under the Securities Act of
1933, as amended, (B) Section 3(a)(9) of the 1933 Act or (C)
Section 3(a)(10) of the 1933 Act or (ii) sell securities at a
future determined price, including, without limitation, an "equity
line of credit" or an "at the market offering."

                      About FreeSeas Inc.

Headquartered in Athens, Greece, FreeSeas Inc., formerly known as
Adventure Holdings S.A., was incorporated in the Marshall Islands
on April 23, 2004, for the purpose of being the ultimate holding
company of ship-owning companies.  The management of FreeSeas'
vessels is performed by Free Bulkers S.A., a Marshall Islands
company that is controlled by Ion G. Varouxakis, the Company's
Chairman, President and CEO, and one of the Company's principal
shareholders.

The Company's fleet consists of six Handysize vessels and one
Handymax vessel that carry a variety of drybulk commodities,
including iron ore, grain and coal, which are referred to as
"major bulks," as well as bauxite, phosphate, fertilizers, steel
products, cement, sugar and rice, or "minor bulks."  As of
Oct. 12, 2012, the aggregate dwt of the Company's operational
fleet is approximately 197,200 dwt and the average age of its
fleet is 15 years.

Freeseas reported a net loss of $12.7 million in 2014, a net loss
of $48.7 million in 2013 and a net loss of $30.9 million in 2012.

As of June 30, 2015, the Company had $41.4 million in total assets,
$32.2 million in total liabilities and $9.22 million in total
shareholders' equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2014, citing that the Company has incurred recurring operating
losses and has a working capital deficiency.  In addition, the
Company has failed to meet scheduled payment obligations under its
loan facilities and has not complied with certain covenants
included in its loan agreements.  Furthermore, the vast majority of
the Company's assets are considered to be highly illiquid and if
the Company were forced to liquidate, the amount realized by the
Company could be substantially lower that the carrying value of
these assets.  Also, the Company has disclosed alternative methods
of testing the carrying value of its vessels for purposes of
testing for impairment during the year ended December 31, 2014.
These conditions among others raise substantial doubt about the
Company's ability to continue as a going concern.


GENERAL MOTORS: Judge Encourages Plaintiffs to Drop Ignition Suit
-----------------------------------------------------------------
Stephanie Gleason, writing for Dow Jones' Daily Bankruptcy Review,
reported that a federal judge advised a group of lawyers suing
General Motors Co. to consider dropping the first ignition-switch
defect case amid revelations that undermined their client's
credibility.​

According to the report, Judge Jesse Furman of the U.S. District
Court in Manhattan said the case "worthless as a settlement tool"
and called on the lawyers to "think about whether it's worth
continuing on."

                    About General Motors

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

traces its roots back to 1908.

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

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

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

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

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

                         *     *     *

The Troubled Company Reporter, on Aug. 29, 2014, reported that
Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) of
General Motors Company (GM) and its General Motors Holdings LLC
(GM Holdings) subsidiary at 'BB+'.  In addition, Fitch has
affirmed GM Holdings' secured revolving credit facility rating at
'BBB-' and GM's senior unsecured notes rating at 'BB+'.  The
Rating Outlook for GM and GM Holdings is Positive.


GT ADVANCED: Says Insurer Undervaluing Wrecked Sapphire Machines
----------------------------------------------------------------
Jeff Sistrunk at Bankruptcy Law360 reported that GT Advanced
Technologies told a New Hampshire bankruptcy judge on Jan. 12,
2016, that Factory Mutual Insurance Co. has drastically undervalued
machines used in the creation of sapphire crystals for smartphones
after they were destroyed in a fire, while asking the court to
force FM to make a $2 million advance payment.

In a motion for partial summary judgment, GTAT urged the bankruptcy
court to find that FM can't value each of the destroyed machines at
a "selling price" of $25,000, which was the opening bid price.

                   About GT Advanced

Headquartered in Merrimack, New Hampshire, GT Advanced Technologies
Inc. -- http://www.gtat.com/-- produces materials and equipment
for the electronics industry.  On Nov. 4, 2013, GTAT announced a
multi-year supply deal with Apple Inc. to produce sapphire glass
material for use in consumer electronics products.

Under the deal, Apple would provide GTAT with a prepayment of
approximately $578 million paid in four installments and, starting
in 2015, GTAT would reimburse Apple for the prepayment over a
five-year period.

GT is a publicly held corporation whose stock was traded on NASDAQ
under the ticker symbol "GTAT."  GTAT was de-listed from the
NASDAQ stock exchange in October 2014.

As of June 28, 2014, the GTAT Group's unaudited and consolidated
financial statements reflected assets totaling $1.5 billion and
liabilities totaling $1.3 billion.  As of Sept. 29, 2014, GTAT had
$85 million in cash, $84 million of which is unencumbered.

On Oct. 6, 2014, GT Advanced Technologies and eight affiliates
filed voluntary petitions for relief under Chapter 11 of the
United States Bankruptcy Code (Bankr. D.N.H. Lead Case No.
4-11916).  GT says that it has sought bankruptcy protection due to
a severe liquidity crisis brought about by its issues with Apple.

The Debtors have tapped Nixon Peabody LLP and Paul Hastings LLP as
attorneys and Kurtzman Carson Consultants LLC as claims and
noticing agent.

The U.S. Trustee has named seven members to the Official Committee
of Unsecured Creditors.  The Committee' professionals are Kelley
Drye as its bankruptcy counsel; Devine, Millimet & Branch,
Professional Association as local counsel; EisnerAmper LLP as
financial advisors; and Houlihan Lokey Capital, Inc. as investment
banker.

GTAT has reached a settlement with Apple.  The settlement gives
Apple an approved claim for $439 million secured by more than
2,000 sapphire furnaces that GT Advanced owns and has four years to
sell, with proceeds going to Apple.  In addition, Apple gets
royalty-free, non-exclusive licenses for GTAT's technology.

The bankruptcy case is assigned to Judge Henry J. Boroff.


HII TECHNOLOGIES: Proposes Reorganization Plan
----------------------------------------------
HII Technologies, Inc., et al., filed their Joint Plan of
Reorganization which proposes to reorganize each of the Debtors,
and transfer certain assets of the Debtors including cash provided
by the DIP Lenders, causes of action to a litigation trust.

The litigation trust will investigate and pursue Causes of Action,
and distribute any proceeds from such Causes of Action to the DIP
Lenders and holders of Allowed General Unsecured and
Subordinated Claims pursuant to the DIP Order and the terms of the
Plan.

Under the Plan:

   * Each allowed secured claim will be paid in full to the extent
of the value of the collateral securing such Claim. The DIP Lenders
shall receive on account of their over $11 Million super-priority
Administrative Expense, (i) repayment of the postpetition
obligations in cash, (ii) the distributable cash, (iii) 95% of the
stock of the reorganized HIIT, (iv) 55% of the beneficial interests
in the litigation trust and the litigation trust assets, and (v)
100% of the insurance proceeds of their collateral.

   * Other allowed administrative expenses and all allowed priority
tax claims will be paid in full, on or promptly after the Effective
Date.

   * Holders of allowed general unsecured claims will share pro
rata in (i) 5% of the stock of the reorganized HIIT, and (ii) the
remaining 45% of the Litigation Trust and the Litigation Trust
Assets.

   * To the extent holders of allowed claims in senior classes are
paid in full, holders of allowed subordinated claims will share any
remaining proceeds of causes of action.

   * Existing equity interests in the Debtors will be cancelled,
all stock de-listed, and no SEC filings will be required.  The
Debtors' tax attributes will be preserved and it will continue
operating.

According to the Liquidation Analysis, holders of administrative
claims are slated to have a 100% recovery, holders of secured debt
would have a 69.9% recovery, and holders of unsecured debt would
have a 7.6% recovery.  In contrast, in a Chapter 7 liquidation
scenario, holders of secured debt would only have an 8.5% recovery
and unsecured creditors would recover 1%.

The Plan is also a motion requesting that the Bankruptcy Code
substantively consolidate the Debtors' estates solely for the
purposes of voting and making distributions.  The Plan is also a
motion to compromise with the DIP Lenders on the amount of their
superpriority administrative expense of over $11 million, accepting
less than full payment in exchange for payment under the Plan.  The
Plan must meet the requirements of Section 1129 of the Bankruptcy
Code with respect to the Debtors on a consolidated basis in order
to be confirmed

A copy of the Disclosure Statement filed Jan. 6, 2016, is available
for free at:

           http://bankrupt.com/misc/HII_Tech_325_DS.pdf

Attorneys for the Debtors:

          MCKOOL SMITH, P.C.
          600 Travis St., Suite 7000
          Houston, TX 77002
          Telephone: (713) 485-7300
          Telecopy: (713) 485-7344

                      About HII Technologies

HII Technologies, Inc., Apache Energy Services, LLC, Aqua Handling
of Texas, LLC, Hamilton Investment Group, Inc., and Sage Power
Solutions, Inc., filed Chapter 11 bankruptcy petitions (Bankr. S.D.
Tex. proposed lead case No. 15-60070) on Sept. 18, 2015.  Judge
David R Jones is assigned to the cases.

HII Technologies (HIITQ) is a publicly-traded oilfield services
company which entered the hydraulic fracturing water management
business via acquisition of Apache Energy Services dba AES Water
Solutions in September 2012.

HII Technologies currently has only one employee, its CEO, Matt
Flemming.

HII Technologies reported assets of $17.6 million and liabilities
of $26.5 million as of July 31, 2015.

The Debtors tapped (i) McKool Smith, PC, as their general
bankruptcy and restructuring counsel; (ii) Indeglia & Carney LLP as
their corporate and securities counsel; (iii) Wells & Cuellar P.C.
as special collections counsel; (iv) Loretta Cross and the firm of
Stout Risius Ross, Inc. as Chief Restructuring Officer and
management and restructuring firm, respectively, and (v) Garden
City Group as notice and solicitation agent.

On Sept. 9, 2015, the United States Trustee formed an Official
Committee of Unsecured Creditors.  The current members of the
Committee are Power Reserve Corp., Bold Production Services,
L.L.C., and Worldwide Power Products, L.L.C.

The Debtors arranged a $12 million secured superpriority
debtor-in-possession term loan facility from McLarty Capital
Partners SBIC, L.P., a Delaware limited partnership, as the
administrative and collateral agent, and Heartland Bank, an
Arkansas state bank and MCP, as lenders.


HORSEHEAD HOLDING: S&P Lowers Corporate Credit Rating to 'SD'
-------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Pittsburgh-based Horsehead Holding Corp. to 'SD'
from 'CCC'.

Concurrently, S&P affirmed the 'CCC' issue-level rating on the
company's senior secured notes.  The recovery rating on the notes
remains '4', which continue to reflect S&P's expectation for
average (30%-50%; lower end of the range) recovery in the event of
a conventional default.

Horsehead Holding Corp. has elected to exercise the 30-day grace
period under its indenture agreements with holders of its 3.80%
convertible senior notes due 2017.  This extends the time period
the company has to make the approximately $1.9 million interest
payment due Jan. 4, 2015 without triggering an event of default
under the indentures.

The company has also entered into temporary forbearance agreements
with its lenders related to certain events of default under its
Macquarie and Zochem credit facilities while it explores solutions
for its liquidity and capital structure issues.

"Given our view of the company's debt level as unsustainable, and
ongoing restructuring discussions, we do not expect a payment to be
made within the grace period. In accordance with our criteria, we
are lowering the corporate credit rating to 'SD'," said Standard &
Poor's credit analyst Ryan Gilmore.  "If Horsehead makes the
interest payment within the grace period, we will likely revise the
issuer credit rating to 'CCC', otherwise we will revise all ratings
accordingly."



HOVENSA LLC: Liquidation Plan Gets Backing from Creditors Panel
---------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that U.S. Virgin
Islands-based oil refinery Hovensa received support for its
liquidation plan on Jan. 14, 2016, from its official committee of
unsecured creditors, a deal the committee said came after financial
stakeholders resolved more than $2 billion in claims against the
Debtor.

In a filing in federal bankruptcy court, the committee said
Hovensa's plan will allocate $30 million from the sale of the oil
refinery's assets for unsecured creditors and offers the best
possible recovery under the circumstances.  

                          About Hovensa

Hovensa, L.L.C, owns an oil refinery and an oil storage facility
business, both located on the island of St. Croix, U.S. Virgin
Islands, and both of which are currently idled.  The refinery and
storage facilities span approximately 2,000 acres of land located
on the south shore of St. Croix, including approximately 300 acres
of undeveloped land to the east of the refinery and storage.
Hovensa currently maintains its headquarters at 1 Estate Hope,
Christiansted, St. Croix, USVI.

Hovensa was formed in June 1998 and, through a series of agreements
dated October 30, 1998, became a joint venture between Hess Oil
Virgin Islands Corporation ("HOVIC"), a subsidiary of Hess
Corporation (f/k/a Amerada Hess Corporation), and PDVSA V.I., Inc.
("PDV-VI" and together with HOVIC, the "JV Parties"), a subsidiary
of Petroleos de Venezuela, S.A. ("PDVSA"), the national oil company
of Venezuela.

Hovensa L.L.C. filed a Chapter 11 bankruptcy petition in the U.S.
Bankruptcy Court for the District of the Virgin Islands (Bankr. D.
V.I. Case No. 15-10003) on Sept. 15, 2015, with a deal to sell most
of the assets.  Judge Mary F. Walrath is assigned to the case.

The Debtor estimated assets of $100 million to $500 million, and
liabilities of more than $1 billion.

The Debtors tapped Morrison & Foerster LLP as bankruptcy counsel;
The Law Offices of Richard H. Dollison as local bankruptcy counsel;
Alvarez & Marsal North America, LLC to provide Thomas E. Hill as
chief restructuring officer; Lazard Freres & Co. LLC as investment
banker; White & Case LLP as special mergers and acquisitions
counsel; and Prime Clerk LLC as claims and noticing agent and as
administrative agent.

The Official Committee of Unsecured Creditors tapped Dentons US LLP
counsel; Hamm Eckard, LLP as its local/co-counsel; and Berkeley
Research Group, LLC as its financial advisor.

The Debtor's owners, HOVIC and PDV-VI, have agreed to provide DIP
financing in an amount not to exceed $40 million.  The DIP facility
requires the Debtors to achieve certain milestones, including
closing of the sale by Dec. 31, 2015.

                           *     *     *

Hovensa, L.L.C., has reached a deal to sell most of its assets to
Limetree Bay Holdings, LLC for $220 million.

The Debtor has filed a liquidating plan. The combined hearing to
consider final approval of the Disclosure Statement and
confirmation of the Plan is on Jan. 19, 2016, at 10:00 a.m.


HYBRID COATING: Capital Deficit, et al., Cast Going Concern Doubt
-----------------------------------------------------------------
Hybrid Coating Technologies Inc. remains highly dependent upon
funding from non-operational sources, according to Joseph Kristul,
the company's president and chief executive officer, in a November
23, 2015 regulatory filing with the U.S. Securities and Exchange
Commission.

The company has an accumulated deficit of $26,901,293, and has a
working capital deficit of $6,683,561 as of September 30, 2015.

"These conditions raise substantial doubt about the company's
ability to continue as a going concern," Mr. Kristul pointed out.

Mr. Kristul continued, "There are no assurances that the company
will be able to either (1) achieve a level of revenues adequate to
generate sufficient cash flow from operations; or (2) obtain
additional financing through either private placement, public
offerings and/or bank financing necessary to support the company's
working capital requirements.  To the extent that funds generated
from operations and any private placements, public offerings and/or
bank financing are insufficient, the company will have to raise
additional working capital.  No assurance can be given that
additional financing will be available, or if available, will be on
terms acceptable to the company.  If adequate working capital is
not available the company may be required to curtail or cease its
operations."

At September 30, 2015, the company had total assets of $1,340,349,
total liabilities of $8,187,762, and total stockholders' deficit of
$6,847,413.

For the three months ended September 30, 2015, the company reported
a net loss of $1,317,808 as compared with a net loss of $1,709,168
during the three months ended September 30, 2014.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/hvn8z8c

Daly City, California-based Hybrid Coating Technologies Inc.
manufactures and sells under license, alternative non-toxic
(isocyanate-free) polyurethane, Green Polyurethane(TM), including
coatings and raw binder ingredients [Green Polyurethane(R)
Monolithic Floor Coating and Green Polyurethane(TM) Binder].  



IGEN NETWORKS: Raises Going Concern Doubt amid Recurring Losses
---------------------------------------------------------------
IGEN Networks Corp. posted a net loss of $601,287 for the three
months ended September 30, 2015 as compared with a net loss of
$211,764 for the same period in 2014.

"The continuation of the company as a going concern is dependent
upon the continued financial support from its shareholders, on the
ability of the company to grow its revenue base, on its ability to
successfully grow the companies in which it is invested, and on the
ability of the company to obtain necessary equity financing to both
support the latter objectives and to invest in and grow new
companies.  The company has recurring losses since inception and
had accumulated losses of $7,000,528 as at September 30, 2015,"
related Neil Chan, director and chief executive officer, and
Richard Freeman, director and chief operating officer of the
company in a regulatory filing with the U.S. Securities and
Exchange Commission on November 23, 2015.

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

"Although there are no assurances that management's plans will be
realized, management believes that the company will be able to
continue operations into the future," Messrs. Chan and Freeman told
the SEC.  

At September 30, 2015, the company had total assets of $1,218,946,
total liabilities of $732,257 and total shareholders' equity of
$486,689.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/h48ewtd

IGEN Networks Corp. has three lines of businesses: investing in and
managing for growth private high-tech companies that offer products
and services in the domains of wireless broadband; negotiating
distribution agreements with relevant organizations and selling
their products and services through the distribution channels of
IGEN; and commencing May 5, 2014, the company was also in the
business of providing vehicle tracking and recovery solutions to
the automotive and power sport industries after the acquisition of
Nimbo, LLC.  The company is based in Alexandria, Virginia.



IRONGATE ENERGY: Moody's Cuts Corporate Family Rating to 'Ca'
-------------------------------------------------------------
Moody's Investors Services downgraded IronGate Energy Services,
LLC's Corporate Family Rating (CFR) to Ca from Caa2, Probability of
Default Rating (PDR) to Ca-PD from Caa2-PD, and senior secured
notes rating to Ca from Caa2. The downgrade reflects Moody's
expectation that the company will need additional external
financing to continue operating in 2016. The Speculative Grade
Liquidity Rating (SGL) was affirmed at SGL-4, and the outlook is
negative.

"We expect drilling and equipment rental services activity to
remain depressed in 2016 such that IronGate will not generate
sufficient operating cash flow to cover its interest payment
obligations," stated James Wilkins, a Moody's Vice President.

The following summarizes the ratings activity:

-- Issuer: IronGate Energy Services, LLC

Downgrades:

-- Probability of Default Rating, Downgraded to Ca-PD from Caa2-
    PD

--  Corporate Family Rating, Downgraded to Ca from Caa2

-- Senior Secured Regular Bond/Debenture, Downgraded to Ca (LGD4)

    from Caa2 (LGD4)

Affirmations:

-- Speculative Grade Liquidity Rating, Affirmed SGL-4

Outlook Actions:

-- Outlook, Remains Negative

RATINGS RATIONALE

IronGate's Ca CFR is driven by its poor liquidity and Moody's
expectation that the company's operating results will not recover
in 2016 as the oilfield services industry activity remains
depressed. The continued decline in US drilling rig counts suggests
that drilling activity will not pick up while oil and natural gas
prices are depressed (e.g., WTI oil prices below $40/bbl). Moody's
expects a 20%-25% year-over-year reduction in 2016 capital spending
across the E&P industry, and thus will not support a revival in
demand for IronGate's rental equipment and tubular services,
especially during the first half of the year.

The company has elevated leverage (debt to EBITDA ratio of 8.7x as
of 30 September 2015) and did not generate positive funds from
operations in the first nine months of 2015. IronGate's
profitability in 2015 dropped by more than 50% versus the prior
year.

IronGate's SGL-4 Speculative Grade Liquidity rating reflects its
poor liquidity and Moody's expectations that the company will need
additional external financing to fund its July 1st interest payment
on the senior secured notes. It has not generated sufficient EBITDA
to cover the interest expense on its notes since February 2015. The
company pays $23.1 million of interest per year on the $210 million
11% senior notes due 2018 in semi-annual payments on January 1st
and July 1st. A decline in working capital and existing cash
balances at the beginning of 2015 provided the cash for the
interest payments through 1 January 2016, but with these sources
are mostly depleted and without sufficient cash flow from
operations, IronGate will be required to seek external financing in
order to meet its July 1st interest payment.

The company has a $20 million revolving credit facility due 2017
with $5 million drawn and excess availability of approximately
$10.6 million as of 30 September 2015 (which has since declined
with a decrease in business activity) after accounting for the
borrowing base and availability block. The company is required,
under its revolving credit facility, to maintain a fixed charge
coverage ratio of at least 1.1x should Qualified Liquidity fall
below $5 million for a specified period. Moody's does not expect
the company to maintain a fixed charge ratio of at least 1.1x
during 2016 and therefore the company will be required to maintain
at least $5 million of Qualified Liquidity. IronGate's cash balance
of $12.6 million as of 30 September 2015, was partially used to pay
the January 2016 interest payment.

The company benefits from having no near-term debt maturities; the
credit agreement matures in 2017 and the notes mature 1 July 2018.
The company does not pay regular dividends.

The negative outlook reflects the uncertainty over IronGate's
ability to service its debt obligations and when demand for the
company's services will improve. The rating could be downgraded if
the company were to default on its debt obligations. The ratings
could be upgraded or the outlook moved to stable, if IronGate
improves its liquidity such that Moody's expects the company will
be able to fund its operations and meet its debt obligations for
the next 18 months.

IronGate Energy Services, LLC (IronGate), headquartered in Houston,
Texas, is a provider of rental and tubular services to the oil and
natural gas exploration and production industry in the United
States and Mexico.



JAMES HUMPHREYS: Files for Bankruptcy, Faces Malpractice Suits
--------------------------------------------------------------
Kali Hays at Bankruptcy Law360 reported that a West Virginia
personal injury firm that played a role in securing a $265 million
payment to Massey Energy shareholders filed for bankruptcy on Jan.
13, 2016, saying it wanted to resolve several claims against it,
including two malpractice suits.

James F. Humphreys & Associates LC, led by President James
Humphreys, filed for Chapter 11 protection citing between $1
million and $10 million of both assets and liabilities, according
to court records.  The firm has reportedly been the target of two
malpractice suits in recent years.


LEHMAN BROTHERS: 401(k) Plan Held Disastrous Stock, 2nd Circ. Told
------------------------------------------------------------------
Max Stendahl at Bankruptcy Law360 reported that a class of former
Lehman Brothers employees who lost some of their retirement savings
when the bank collapsed in 2008 pressed the Second Circuit on
Thursday to revive a suit alleging their benefits plan should have
dumped its "disastrous" Lehman stock as the financial crisis
unfolded.  A three-judge panel heard oral arguments on an appeal of
a July 2015 district court ruling tossing claims against former
Lehman CEO Richard Fuld and seven former members of a benefits
committee that oversaw the 401(k) plan.

                     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.


LILIS ENERGY: Raises Going Concern Doubt Amid Net Operating Losses
------------------------------------------------------------------
Lilis Energy, Inc. has reported net operating losses during the
three and nine months ended September 30, 2015 and for the past
five years.  This history of operating losses, along with the
recent decrease in commodity prices, may adversely affect the
company's ability to access capital it needs to continue
operations, according to Abraham Mirman, chief executive officer,
and Kevin Nanke, chief financial officer and chief accounting
officer of the company in a regulatory filing with the U.S.
Securities and Exchange Commission on November 23, 2015.

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

Messrs. Mirman and Nanke explained: "The company is currently
looking for additional capital, potential merger candidates, or
funding sources which may offer improved opportunities to obtain
capital to continue its current operations and to further develop
its properties, acquire oil and gas properties and to cure any
potential defaults in connection with its credit facility and
current liabilities deficiencies.  The company is also focused on
maintaining production while efficiently managing, and in some
cases reducing, its operating and general and administrative
expenses.  The company is also evaluating asset divestiture
opportunities to provide capital to reduce its indebtedness.
Successfully completing a significant capital infusion could
possibly eliminate doubt about the company's ability to continue as
a going concern.

"On January 8, 2015, the company entered into a credit agreement,
as amended, (the Credit Agreement) with Heartland Bank (Heartland),
as administrative agent, and the financial institutions from time
to time signatory thereto.  As previously disclosed, as of June 30,
2015, and as of the date hereof, the company was not in compliance
with the financial covenant in the Credit Agreement that relates to
the total debt to EBITDAX ratio. Specifically, the ratio requires
that the company shall maintain at all times, as determined on June
30 of each year, a ratio of (i) the aggregate amount of all Debt
(as defined in the Credit Agreement), to (ii) EBITDAX of not less
than 4.5:1, 3.5:1 and 2.5:1 for the periods ending June 30, 2015,
2016, and 2017 and thereafter, respectively.  Prior to the filing
of our quarterly report for the period ended June 30, 2015, the
company received a waiver from Heartland for this covenant
violation, which will not be measured again until June 30, 2016.
The company will need to raise additional capital and acquire
and/or successfully develop its oil and gas assets to meet this
covenant.

"The company is currently in default of the Credit Agreement for
failure to make the principal payment due on October 1, 2015, in
the amount of $125,000 and interest payments in the aggregate
amount of $89,000, pursuant to Section 4.1 of the Credit Agreement.
The company is also in default under Section 8.1 and 8.20 of the
Credit Agreement for failure to satisfy the covenants relating to
the furnishing of reserve reports as of September 15 of each year
and holding regularly scheduled operations meetings, respectively.
Additionally, as of the date hereof, the company has assumed an
aggregate amount of $650,002 in additional subordinated unsecured
debt, which is a default under the Credit Agreement pursuant to of
Section 9.1(c).  As a result of these violations, the company has
recorded the entire amount under the Term Loan totaling $2.75
million as a current liability.
The Debentures also contain certain cross-default provisions with
certain other debt instruments.  Therefore, a default under the
Credit Agreement, constitutes an event of default pursuant to the
Debentures which may result in an acceleration of the company's
obligations at the holders' election.  No demand has been received
as of the date hereof, however, as a result of these violations,
the Company has recorded the entire amount under the Debentures
totaling $6.85 million as a current liability.

"The company is currently in discussions with Heartland to resolve
the existing defaults.  There can be no assurance that the company
and Heartland will be successful in doing so.  If we are unable to
reach a successful resolution with Heartland, it may exercise its
rights with respect to the company's collateral which includes
substantially all of its assets.  If Heartland exercises its rights
with respect to the collateral, including foreclosure, we may need
to severely curtail or cease operations.  We are considering
options available to the company."

At September 30, 2015, the company had total assets of $2,504,963,
total liabilities of $16,619,323 and total stockholders' deficit of
$15,672,313.

The company reported a net loss of $19,435,185 for the three months
ended September 30, 2015, compared with a net loss of $6,911,681
for the same period in 2014.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/zes5ptu

Lilis Energy, Inc. is an independent oil and gas company based in
Denver.  The company is engaged in the acquisition, drilling and
production of oil and natural gas properties and prospects within
the Denver-Julesburg (DJ) Basin.



MAGNUM HUNTER: Creditors' Committee Files Rule 2019 Statement
-------------------------------------------------------------
The official committee representing unsecured creditors of Magnum
Hunter Resources Corp. filed a statement with the U.S. Bankruptcy
Court in Delaware pursuant to Rule 2019 of the Federal Rules of
Bankruptcy Procedure.

The committee consists of three members: Hunt Oil Company, Michael
Rozenfeld and Wilmington Trust, National Association.  

Hunt Oil is the beneficial owner of a $3.68 million unsecured claim
resulting from a litigation settlement with Magnum Hunter.

Mr. Rozenfeld is the beneficial owner of $1 million of the
company's 9.75% senior notes due 2020.  Meanwhile, Wilmington Trust
is the holder of $600 million of the notes, according to the
filing.   

The committee can be reached through:

     Norman L. Pernick
     Patrick J. Reilley
     500 Delaware Avenue, Suite 1410
     Wilmington, Delaware 19801
     Telephone: 302-652-3131
     Facsimile: 302-652-3117
     npernick@coleschotz.com
     preilley@coleschotz.com

          -- and --

     Ropes & Gray LLP
     Mark R. Somerstein
     Mark I. Bane
     1211 Avenue of the Americas
     New York, NY 10036-8704
     Telephone: (212) 596-9000
     Facsimile: (212) 596-9090
     mark.somerstein@ropesgray.com
     mark.bane@ropesgray.com

                        About Magnum Hunter

Irving, Texas-based MHRC, an oil and gas company that primarily
engaged, through its subsidiaries, in the acquisition, development,
and production of oil and natural gas reserves in the United
States, said these macroeconomic factors, coupled with the their
substantial debt obligations and natural gas gathering and
transportation costs, strained their ability to sustain the weight
of their capital structure and devote the capital necessary to
maintain and grow their businesses.  The Debtors' total number of
drilling rigs in operation in the United States is just 38 percent
of the number of rigs that were in operation just one year ago,
Court filing indicates.

Magnum Hunter Resources Corporation and 19 of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead Case
No. 15-12533) on Dec. 15, 2015.  The petition was signed by Gary C.
Evans as chairman and chief executive officer.

The Debtors have engaged Kirkland & Ellis, LLP as their general
counsel, Pachulski Stang Ziehl & Jones LLP as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC, as restructuring advisor, and Prime Clerk, LLC as notice,
claims and balloting agent.


MAGNUM HUNTER: Files Debt-For-Equity Chapter 11 Plan
----------------------------------------------------
Magnum Hunter Resources Corporation and its affiliated debtors
filed a proposed Chapter 11 plan of reorganization that provides
for the reorganization of the Debtors as a going concern through a
debt-for-equity conversion of substantially all of the Debtors'
remaining pre- and postpetition funded indebtedness.

The key element of the Plan is the agreement of creditors to
convert their pre- and postpetition funded debt claims, including
the DIP facility claims of up to $200 million, second lien claims
of $336.6 million, and note claims of $600 million, into new common
equity.  Specifically, the DIP Facility Lenders shall receive their
pro rata share of 28.8 percent of the new common equity, the second
lien lenders will receive their Pro Rata share of 36.87 percent of
the New Common Equity, and the Noteholders shall receive their Pro
Rata share of 31.33 percent of the New Common Equity (all of which
is subject to dilution by the Management Incentive Plan).
Moreover, the holders of the equipment and real estate notes with
principal totaling $13.2 million will have their claims
reinstated.

The holders of general unsecured claims will receive their pro rata
share of the unsecured creditor cash pool.  It is currently
intended that the unsecured creditor cash pool will be $20,000,000,
which amount may be subject to the costs of any professional fees
or other expenses incurred as part of the claims reconciliation
process.  The Disclosure Statement still has blanks as to the
projected total amount of unsecured claims and the estimated
percentage recovery by the class.

The terms of the prearranged restructuring are set forth in a
Restructuring Support Agreement, which was signed by parties
holding in the aggregate of approximately 75 percent in principal
amount of the Debtors' prepetition funded debt.  Specifically, the
Restructuring Support Agreement was executed by (a) holders of
substantially all of the outstanding principal amount under the $70
million bridge financing facility, (b) holders of approximately
66.5 percent of the outstanding principal amount under the Second
Lien Credit Agreement, and (c) holders of approximately 79 percent
of the outstanding principal amount of the Notes.

A copy of the Disclosure Statement and Plan filed Jan. 7, 2016, is
available for free at:

             http://bankrupt.com/misc/Magnum_H_213_DS.pdf

The Debtors' attorneys:

          Laura Davis Jones, Esq.
          Colin R. Robinson, Esq.
          Joseph M. Mulvihill, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          919 North Market Street, 17th Floor
          P.O. Box 8705
          Wilmington, DE 19899-8705
          Telephone: (302) 652-4100
          Facsimile: (302) 652-4400
          E-mail: ljones@pszjlaw.com
                  crobinson@pszjlaw.com
                  jmulvihill@pszjlaw.com

                  - and -

          Edward O. Sassower, P.C.
          Brian E. Schartz, Esq.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          601 Lexington Avenue
          New York, NY 10022
          Telephone: (212) 446-4800
          Facsimile: (212) 446-4900
          E-mail: edward.sassower@kirkland.com
                  brian.schartz@kirkland.com

                  - and -

          James H.M. Sprayregen, P.C.
          Justin R. Bernbrock, Esq.
          Alexandra Schwarzman, Esq.
          KIRKLAND & ELLIS LLP
          KIRKLAND & ELLIS INTERNATIONAL LLP
          300 North LaSalle
          Chicago, IL 60654
          Telephone: (312) 862-2000
          Facsimile: (312) 862-2200
          E-mail: james.sprayregen@kirkland.com
                  justin.bernbrock@kirkland.com
                  alexandra.schwarzman@kirkland.com

                        About Magnum Hunter

Magnum Hunter Resources Corporation is an oil and gas company
headquartered in Irving, Texas that primarily is engaged in the
acquisition, development, and production of oil and natural gas
reserves in the United States.  MHRC and its affiliates own
interests in approximately 431,643 net acres in total and have
proved reserves with an industry value of approximately $234.5
million as of December 31, 2015.  In the aggregate, MHRC generated
approximately $391.5 million in revenue from their operations in
2014 and generated approximately $169.3 million in revenues from
their operations for the ten months ended October 31, 2015.

Magnum Hunter Resources Corporation and 19 of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead Case
No. 15-12533) on Dec. 15, 2015.  The petitions were signed by Gary
C. Evans as chairman and chief executive officer.

The Debtors have engaged Kirkland & Ellis, LLP as their general
counsel, Pachulski Stang Ziehl & Jones LLP as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC, as restructuring advisor, and Prime Clerk, LLC as notice,
claims and balloting agent.

As of Sept. 30, 2015, the Debtors reported approximately $1.1
billion in total liabilities, as well as $416.3 million in stated
value of preferred stock.  The Debtors' significant funded debt
obligations include: (a) approximately $70 million in principal
amount of obligations under the Debtors' Bridge Financing Facility;
(b) approximately $336.6 million in principal amount of obligations
under the Debtors' second lien credit agreement; (c) approximately
$13.2 million in principal amount of Equipment and Real Estate
Notes; and (d) approximately $600 million in principal amount of
Notes.


MAGNUM HUNTER: Targeting March 28 Confirmation of Plan
------------------------------------------------------
Magnum Hunter Resources Corporation and its affiliated debtors will
seek approval on Feb. 11, 2016, at 2:00 p.m., of the disclosure
statement explaining their proposed reorganization plan, as well as
the proposed solicitation and voting procedures and confirmation
timeline.

The Debtors seek to obtain confirmation of their proposed
debt-for-equity plan based on this timeline:

           Event                                   Date
           -----                                   ----
Disclosure Statement Objection Deadline         Feb. 4, 2016

Voting Record Date                              Feb. 11, 2016

Solicitation Deadline                         Five business days
                                              following entry of
                                              the Disclosure
                                              Statement Order

Publication Deadline                            Feb. 25, 2016

Voting Deadline                                 Mar. 21, 2016

Plan Objection Deadline                         Mar. 21, 2016

Deadline to File Confirmation Brief             Mar. 24, 2016
p.m.

Plan Objection Response Deadline                Mar. 24, 2016

Deadline to File Voting Report                  Mar. 24, 2016

Confirmation Hearing Date                       Mar. 28, 2016

The Debtors are proposing to solicit votes to accept or reject the
Plan from holders of Claims in Class 4 (Second Lien Claims), Class
5 (Note Claims), and Class 6 (General Unsecured Claims).  Holders
of claims in Class 1 (Other Priority Claims), Class 2 (Other
Secured Claim, and Class 3 (Equipment and Other Note Claims) are
unimpaired.  Class 9 (Interests in MHRC) is deemed to reject the
Plan.

                        About Magnum Hunter

Magnum Hunter Resources Corporation is an oil and gas company
headquartered in Irving, Texas that primarily is engaged in the
acquisition, development, and production of oil and natural gas
reserves in the United States.  MHRC and its affiliates own
interests in approximately 431,643 net acres in total and have
proved reserves with an industry value of approximately $234.5
million as of December 31, 2015.  In the aggregate, MHRC generated
approximately $391.5 million in revenue from their operations in
2014 and generated approximately $169.3 million in revenues from
their operations for the ten months ended October 31, 2015.

Magnum Hunter Resources Corporation and 19 of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead Case
No. 15-12533) on Dec. 15, 2015.  The petitions were signed by Gary
C. Evans as chairman and chief executive officer.

The Debtors have engaged Kirkland & Ellis, LLP as their general
counsel, Pachulski Stang Ziehl & Jones LLP as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC, as restructuring advisor, and Prime Clerk, LLC as notice,
claims and balloting agent.

As of Sept. 30, 2015, the Debtors reported approximately $1.1
billion in total liabilities, as well as $416.3 million in stated
value of preferred stock.  The Debtors' significant funded debt
obligations include: (a) approximately $70 million in principal
amount of obligations under the Debtors' Bridge Financing Facility;
(b) approximately $336.6 million in principal amount of obligations
under the Debtors' second lien credit agreement; (c) approximately
$13.2 million in principal amount of Equipment and Real Estate
Notes; and (d) approximately $600 million in principal amount of
Notes.


MAGNUM HUNTER: To Employ Kirkland & Ellis as Bankr. Attorney
------------------------------------------------------------
Magnum Hunter Resources Corporation and its debtor-affiliates ask
the U.S. Bankruptcy Court for the District of Delaware for
permission to employ Kirkland & Ellis LLP as their attorney.

A hearing is set for Jan. 28, 2016, at 11:00 a.m. (ET) to consider
approval of the Debtors' request.  Objections were due Jan. 21,
2016.

The firm will:

   a) advise the Debtors with respect to their powers and duties as
debtors in possession in the continued management and operation of
their businesses and properties;

   b) advise and consult on the conduct of these chapter 11 cases,
including all of the legal and administrative requirements of
operating in chapter 11;

   c) attend meetings and negotiate with representatives of
creditors and other parties in interest;

   d) take all necessary actions to protect and preserve the
Debtors' estates, including prosecuting actions on the Debtors'
behalf, defending any action commenced against the Debtors, and
representing the Debtors in negotiations concerning litigation in
which the Debtors are involved, including objections to claims
filed against the Debtors' estates;

   e) prepare pleadings in connection with these chapter 11 cases,
including motions, applications, answers, orders, reports, and
papers necessary or otherwise beneficial to the administration of
the Debtors' estates;

   f) represent the Debtors in connection with obtaining authority
to continue using cash collateral and postpetition financing;

   g) advise the Debtors in connection with any potential sale of
assets;

   h) appear before the Court and any appellate courts to represent
the interests of the Debtors' estates;

   i) advise the Debtors regarding tax matters;

   j) take any necessary action on behalf of the Debtors to
negotiate, prepare, and obtain approval of a disclosure statement
and confirmation of a chapter 11 plan and all documents related
thereto; and

   k) perform all other necessary legal services for the Debtors in
connection with the prosecution of these chapter 11 cases,
including: (i) analyzing the Debtors' leases and contracts and the
assumption and assignment or rejection thereof; (ii) analyzing the
validity of liens against the Debtors; and (iii) advising the
Debtors on corporate and litigation matters.

Kirkland's current hourly rates for matters related to these
chapter 11 cases range
as follows:

       Partners             $875-$1,445
       Of Counsel           $480-$1,445
       Associates           $510-$945
       Paraprofessionals    $180-$400

On Oct. 14, 2015, the Debtors said they paid $500,000 to Kirkland,
which, as stated in the engagement letter, constituted an "advance
payment retainer".  Subsequently, the Debtors paid to Kirkland
additional advance payment retainers totaling $4,750,000 in the
aggregate.  As stated in the engagement letter, any advance payment
retainers are earned by Kirkland upon receipt, any advance payment
retainers become the property of Kirkland upon receipt, the Debtors
no longer have a property interest in any advance payment retainers
upon Kirkland's receipt, any advance payment retainers will be
placed in Kirkland's general account and will not be held in a
client trust account, and the Debtors will not earn any interest on
any advance payment retainers.

Edward O. Sassower, Esq., president of Edward O. Sassower and
partner of Kirkland & Ellis, assured the Court that Kirkland is a
"disinterested person" within the meaning of Section 101(14) of the
Bankruptcy Code.

Mr. Sassower can be reached at:

      Edward O. Sassower, Esq.
      Edward O. Sassower, P.C.
      KIRKLAND & ELLIS LLP
      601 Lexington Avenue
      New York, New York 10022
      Tel: (212) 446-4800
      Fax: (212) 446-4900
      Email: edward.sassower@kirkland.com

                        About Magnum Hunter

Irving, Texas-based MHRC, an oil and gas company that primarily
engaged, through its subsidiaries, in the acquisition, development,
and production of oil and natural gas reserves in the United
States, said these macroeconomic factors, coupled with the their
substantial debt obligations and natural gas gathering and
transportation costs, strained their ability to sustain the weight
of their capital structure and devote the capital necessary to
maintain and grow their businesses.  The Debtors' total number of
drilling rigs in operation in the United States is just 38 percent
of the number of rigs that were in operation just one year ago,
Court filing indicates.

Magnum Hunter Resources Corporation and 19 of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead Case
No. 15-12533) on Dec. 15, 2015.  The petition was signed by Gary C.
Evans as chairman and chief executive officer.

The Debtors have engaged Kirkland & Ellis, LLP as their general
counsel, Pachulski Stang Ziehl & Jones LLP as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC, as restructuring advisor, and Prime Clerk, LLC as notice,
claims and balloting agent.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Magnum Hunter Resources Corp. to serve on the official
committee of unsecured creditors.


MAGNUM HUNTER: Wants to Hire A&M as Restructuring Advisor
---------------------------------------------------------
Magnum Hunter Resources Corporation and its debtor-affiliates ask
the U.S. Bankruptcy Court for the District of Delaware for
authority to employ Alvarez & Marsal North America LLC as their
restructuring advisors.

A hearing is set for Jan. 28, 2016, at 11:00 a.m. (ET) to consider
approval of the Debtors' request.  Objections were due Jan. 21,
2016.

The firm's services include:

   a) assistance to the Debtors in the preparation of
financial-related disclosures required by the Court, including the
Debtors' Schedules of Assets and Liabilities, Statements of
Financial Affairs and Monthly Operating Reports;

   b) assistance to the Debtors with information and analyses
required pursuant to the Debtors' debtor-in-possession financing;

   c) assistance with the identification and implementation of
short-term cash management procedures;

   d) advisory assistance in connection with the development and
implementation of key employee compensation and other critical
employee benefit programs;

   e) assistance with the identification of executory contracts and
leases and performance of cost/benefit evaluations with respect to
the affirmation or rejection of each;

   f) assistance to Debtors' management team and counsel focused on
the coordination of resources related to the ongoing reorganization
effort;

   g) assistance in the preparation of financial information for
distribution to creditors and others, including, but not limited
to, cash flow projections and budgets, cash receipts and
disbursement analysis, analysis of various asset and liability
accounts, and analysis of proposed transactions for which Court
approval is sought;

   h) assistance with certain valuation consulting services,
including but not limited to: periodic valuation services related
to fair value of derivatives and other complex financial
instruments for diligence and financial reporting purposes and
other business valuation services, as requested by the Debtors,
relating to fresh start accounting, impairment testing and other
diligence and financial reporting matters.

   i) attendance at meetings and assistance in discussions with
potential investors, banks, and other secured lenders, any official
committee(s) appointed in these chapter 11 cases, the United States
Trustee, other parties in interest and professionals hired by same,
as requested;

   j) analysis of creditor claims by type, entity, and individual
claim, including assistance with development of databases, as
necessary, to track such claims;

   k) assistance in the preparation of information and analysis
necessary for the confirmation of a plan of reorganization in these
chapter 11 cases, including information contained in the disclosure
statement;

   l) assistance in the evaluation and analysis of avoidance
actions, including fraudulent conveyances and preferential
transfers;

   m) rendering such other general business consulting or such
other assistance as Debtors' management or counsel may deem
necessary consistent with the role of a restructuring advisor to
the extent that it would not be duplicative of services provided by
other professionals in this proceeding.

The firm will be paid by the Company for the services of its
professionals at their customary hourly billing rates:

      Restructuring Advisory
      ---------------------------------
      Managing Directors      $775-$975
      Directors               $600-$750
      Analysts/Associates     $375-$550

      Claims Management Services
      ---------------------------------
      Managing Directors      $675-$775
      Directors               $500-$650
      Analysts/Consultants    $325-$500

      Valuation Services
      ---------------------------------
      Managing Directors      $500-$775
      Directors               $350-$475
      Analysts/Associates     $200-$325

The Debtors tell the Court the firm received $100,000 as a retainer
in connection with preparing for and conducting the filing of these
chapter 11 cases.  In the ninety (90) days prior to the Petition
Date, the firm received retainers and payments totaling $1,794,036
in the aggregate for services performed.  A&M has applied these
funds to amounts due for services rendered and expenses incurred
prior to the Petition Date, the Debtors note.

Edgar W. Mosley, managing director with the firm, assured the Court
that Kirkland is a "disinterested person" within the meaning of
Section 101(14) of the Bankruptcy Code.

Mr. Mosley can be reached at:

     Edgar W. Mosley
     Alvarez & Marsal North America LLC
     600 Madison Avenue, 8th Floor
     New York, NY 10022
     Tel: (+1) 214 438 8481
     Email: emosley@alvarezandmarsal.com

                        About Magnum Hunter

Irving, Texas-based MHRC, an oil and gas company that primarily
engaged, through its subsidiaries, in the acquisition, development,
and production of oil and natural gas reserves in the United
States, said these macroeconomic factors, coupled with the their
substantial debt obligations and natural gas gathering and
transportation costs, strained their ability to sustain the weight
of their capital structure and devote the capital necessary to
maintain and grow their businesses.  The Debtors' total number of
drilling rigs in operation in the United States is just 38 percent
of the number of rigs that were in operation just one year ago,
Court filing indicates.

Magnum Hunter Resources Corporation and 19 of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead Case
No. 15-12533) on Dec. 15, 2015.  The petition was signed by Gary C.
Evans as chairman and chief executive officer.

The Debtors have engaged Kirkland & Ellis, LLP as their general
counsel, Pachulski Stang Ziehl & Jones LLP as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC, as restructuring advisor, and Prime Clerk, LLC as notice,
claims and balloting agent.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Magnum Hunter Resources Corp. to serve on the official
committee of unsecured creditors.


MASTEC INC: S&P Revises Outlook to Negative & Affirms 'BB' CCR
--------------------------------------------------------------
Standard & Poor's Ratings Services said that it has revised its
outlook on Florida-based MasTec Inc. to negative from stable and
affirmed its 'BB' corporate credit rating on the company.

At the same time, S&P affirmed its 'BB-' issue-level rating on the
company's $400 million senior unsecured notes due 2023.

"The outlook revision reflects that there is a one-in-three chance
that we could lower our corporate credit rating on MasTec during
the next year if we believe that its adjusted debt-to-EBITDA metric
will remain above 3.5x for an extended period," said Standard &
Poor's credit analyst Michael Durand.  Specialty engineering and
construction (E&C) contractor MasTec sustained weaker-than-expected
credit measures in 2015 due to weak market conditions and execution
issues.  Although S&P expects the company's performance to improve
in 2016, it recognizes that there are uncertain trends in some of
its end markets and acknowledge that its results may once again
fall short of S&P's expectations. While MasTec's backlog has grown
by 10% year-over-year to $4.6 billion as of Sept. 30, 2015, there
may potentially be project cancellations and deferrals in the
company's expected work due to instability in its end markets.
Over the long term, however, S&P expects that telecommunications
companies will continue to upgrade their infrastructure and that
oil and gas companies will continue to expand their network of
long-haul pipelines.

The negative outlook on MasTec reflects that there is a
one-in-three chance that S&P could lower its rating on the company
over the next 12 months if the company continues to face
challenging operating conditions and its performance does not
improve following the weaker-than-expected results it posted in
2015.

S&P could lower its rating on MasTec if its operating performance
does not improve and S&P expects that its adjusted debt-to-EBITDA
metric will remain above 3.5x for an extended period.  Although
less likely, S&P could also lower its rating on the company if its
free operating cash flow becomes negative because of continued
weakness in its end markets, declining global industrial
production, or low oil prices.

S&P could revise its outlook on MasTec to stable if the company's
operating performance improves, causing its adjusted debt-to-EBITDA
to improve to between 2x and 3x over the business cycle. While this
leverage parameter is supportive of an intermediate financial risk
profile, S&P would most likely assess the company's financial risk
profile as significant because of S&P's volatility adjustment, as
its cash flow/leverage ratios could shift by one or two categories
during periods of stress.  At the same time, S&P would expect
MasTec to demonstrate financial policies that are in line with the
current rating, notably by refraining from undertaking
debt-financed share repurchases or acquisitions that would cause
its adjusted debt-to-EBITDA metric to remain above 3x.



MILLENNIUM LAB: Court Approves Skadden Arps as Bankruptcy Counsel
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Millennium Lab Holdings II LLC and its debtor-affiliates to employ
Skadden, Arps, Slate, Meagher & Flom LLP as their bankruptcy
counsel.

The firm will:

   a) advise the Debtors with respect to their powers and duties as
debtors and debtors in possession in the continued management and
operation of their businesses and properties;

   b) attend meetings and negotiating with representatives of
creditors and other parties in interest, and advising and
consulting on the conduct of the cases, including all of the legal
and administrative requirements of operating in chapter 11;

   c) take all necessary action to protect and preserve the
Debtors' estates, including the prosecution of actions on the
Debtors' behalf, the defense of any actions commenced against the
Debtors' estates, negotiations concerning litigation in which the
Debtors may be involved and objections to claims filed against the
Debtors' estates;

   d) prepare on behalf of the Debtors all motions, applications,
answers, orders, reports and papers necessary to the administration
of the estates;

   e) advise the Debtors in connection with any sales of assets;

   f) prepare and negotiate on the Debtors' behalf plan(s) of
reorganization, disclosure statement(s) and all related agreements
and/or documents (which have all been completed with respect to the
Prepack), and taking any necessary action on behalf of the Debtors
to obtain confirmation of such plan(s);

   g) appear before this Court, any appellate courts, and the U.S.
Trustee and protecting the interests of the Debtors' estates before
such courts and the U.S. Trustee; and

   h) perform all other necessary legal services and providing all
other necessary legal advice to the Debtors in connection with the
Chapter 11 Cases.

The Debtors said the firm has provided and will be providing
professional services to the them under its standard rate structure
and pursuant to the terms of the engagement agreement, which
provides for a 15% discount to such standard rates.  The firm's
standard rate
structure have ranged:

      partners          $895-$1,350
      counsel           $885-$995
      associates        $380-$870
      legal assistants  $200-$350

The firm has advised the Debtors that the hourly rates set forth
above are subject to periodic increases in the normal course of the
firm's
business, often due to the increased experience of a particular
professional.  These hourly rates
are scheduled to increase on Jan. 1, 2016.  Skadden's new standard
rate structure for 2016
will range from:

      partners          $935-$1,425
      counsel           $925-$1,040
      associates        $390-$920
      assistants        $210-$365

On Aug. 17, 2015, the firm received an initial retainer of
approximately $400,000.  From time to time, during the period since
August 2015, Skadden provided the Debtors with invoices for
professional fees and expenses, deducted the amounts of the
invoices from the Retainer and requested that the Debtors replenish
the Retainer, which the Debtors did.  Based upon prepetition fees
and expenses that have been identified and accounted for as of the
date hereof, and assuming application of all such fees and expenses
against the Retainer, Skadden had approximately $270,000 remaining
in the Retainer as of the Petition Date, and Skadden is not owed
anything by the Debtors for prepetition work.  Skadden has informed
the Debtors that as promptly as practicable after all fees and
charges accrued prior to the Petition Date have been finally posted
within the Firm's computerized billing system, Skadden will issue a
final detailed billing statement for any fees, charges and
disbursements for the period prior to the Petition Date.

Within the one-year period preceding the Petition Date, the total
aggregate amount of fees earned and expenses incurred by Skadden on
behalf of the Debtors was approximately $6,300,000.  During the
same period, the Debtors paid Skadden an aggregate amount of
approximately $6,570,000 for such matters, including payment of the
Retainer and payments made before the Retainer was funded.  The
balance of approximately $270,000 is the amount of the remaining.

Kenneth S. Ziman, Esq., member of the firm, assured the Court that
the firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.

Mr. Ziman can be reached at:

     Kenneth S. Ziman, Esq.
     Skadden, Arps, Slate, Meagher & Flom LLP
     Four Times Square
     New York, New York 10036
     Tel: (212) 735-3000
     Fax: (212) 735-2000
     Email: ken.ziman@skadden.com

                       About Millennium Lab

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

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

Judge Laurie Selber Silverstein has been assigned the case.


MILLENNIUM LAB: Court Okays Young Conaway as Conflict Counsel
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Millennium Lab Holdings II LLC and its debtor-affiliates to employ
Young Conaway Stargatt & Taylor LLP as their conflict counsel.

The firm is expected to:

   a) advise the Debtors regarding their powers and duties as
debtors in possession in the continued management of their
businesses and properties;

   b) attend meetings and negotiating with representatives of
creditors, equity security holders and other parties in interest;

   c) take necessary action to protect and preserve the Debtors'
estates, including prosecuting actions on the Debtors' behalf,
defending any action commenced against the Debtors and representing
the Debtors' interests in negotiations concerning litigation,
including, but not limited to, objections to claims filed against
the estates;

   d) prepare on the Debtors' behalf motions, applications,
adversary proceedings, answers, orders, reports and papers
necessary to the matters for which Young Conaway is responsible;

   e) appear before this Court and any appellate courts and
protecting the interests of the Debtors' estates before such
courts; and

   f) perform all other necessary legal services and providing
other necessary legal advice to the Debtors in connection with
their chapter 11 cases.

The principal attorneys and paralegal presently designated to
represent the Debtors and their current standard hourly rates are:

      Pauline K. Morgan, Esq.  Partner         $795
      Joel A. Waite, Esq.      Partner         $795
      John T. Dorsey, Esq.     Partner         $765
      Ryan M. Bartley, Esq.    Partner         $420
      Michelle Smith           Paralegal       $215

Pauline K. Morgan, Esq., partner at the firm, 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:

      Pauline K. Morgan, Esq.
      Joel A. Waite, Esq.
      Ryan M. Bartley, Esq.
      John T. Dorsey, Esq.
      Young Conaway Stargatt & Taylor, LLP
      1000 North King Street
      Wilmington, Delaware 19801
      Tel: (302) 571-6600
      Fax: (302) 571-1253
      Email: pmorgan@ycst.com
             jwaite@ycst.com
             rbartley@ycst.com
             jdorsey@ycst.com

                       About Millennium Lab

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

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

Judge Laurie Selber Silverstein has been assigned the case.


MONAKER GROUP: Incurs $4.89 Million Net Loss in Third Quarter
-------------------------------------------------------------
Monaker Group, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $4.89 million on $21,717 of total revenues for the three months
ended Nov. 30, 2015, compared to net income of $3.99 million on
$310,341 of total revenues for the same period a year ago.

For the nine months ended Nov. 30, 2015, the Company reported a net
loss of $8.73 million on $507,077 of total revenues compared to net
income of $1.56 million on $1.06 million of total revenues for the
nine months ended Nov. 30, 2014.

As of Nov. 30, 2015, the Company had $6.94 million in total assets,
$9.88 million in total liabilities and a total stockholders'
deficit of $2.94 million.

At Nov. 30, 2015, the Company had $343,281 cash on-hand, an
increase of $116,869 from $226,412 at the start of fiscal 2016. The
increase is primarily due to equity fund raising, injection of
approximately 57,000 in cash from the merger of AOV Holding, Inc.
offset by operating expenses, website development costs and
advances to affiliates.

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

                        http://is.gd/7rAsqj

                        About Monaker Group

Monaker Group, Inc., formerly known as Next 1 Interactive, Inc., is
a digital media marketing company focusing on lifestyle enrichment
for consumers in the travel, home and employment sectors.  Core to
its marketing services are key elements including proprietary
video-centered technology and established partnerships that enhance
its reach.  Video is quickly becoming consumer's preferred method
of searching and educating themselves prior to purchases.
Monaker's video creation technology and film libraries combine to
create lifestyle video offerings that can be shared both to its
customers and through trusted distribution systems of its major
partners.  The end result is better engagement with consumers who
gain in-depth information on related products and services helping
to both inform and fulfill purchases.  Unlike traditional marketing
companies that simply charge for advertising creation, Monaker
holds licenses and/or expertise in the travel, real estate and
employment sectors allowing it to capture fees at the point of
purchase while the majority of transactions are handled by
Monaker's partners.  This should allow the company to capture
greater revenues while eliminating much of the typical overhead
associated with fulfillment.  Monaker core holdings include
Maupintour, NameYourFee.com, RealBiz Media Group - helping it to
deliver marketing solutions to consumers at home, work and play.

Next 1 Interactive reported a net loss of $50,500 on $1.1 million
of total revenue for the year ended Feb. 28, 2015, compared with a
net loss of $18.3 million on $1.5 million of total revenues for the
year ended Feb. 28, 2014.

D'Arelli Pruzansky, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Feb. 28, 2015, citing that the Company has incurred
an operating loss of $5.44 million and net cash used in operations
of $2.62 million for the year ended Feb. 28, 2015, and the Company
had an accumulated deficit of $86.1 million and a working capital
deficit of $12.8 million at Feb. 28, 2015.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


NORFE GROUP: Case Summary & 19 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Norfe Group Corp.
        PO Box 29033
        San Juan, PR 00929-0033

Case No.: 16-00285

Chapter 11 Petition Date: January 20, 2016

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

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

Total Assets: $14.91 million

Total Debts: $25.37 million

The petition was signed by David Efron, president.

List of Debtor's 19 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Banco Popular De Puerto Rico                             $44,265

Consejo Titulares                  Maintenance Fees      $26,578

CRIM Bankruptcy Department                               $22,816

Department of Treasury                   Tax                $150

Department of Treasury                   Tax                $140

Direct TV                              Services              $84

Excellent Cops Security Services Inc.  Services           $7,995

Internal Revenue Service                 Taxes              $750

JF PG Commercial LLC                  Cash Loans      $1,200,000
PO Box 7346
Philadelphia, PA
19101-7346

Municipio De San Juan                    Taxes              $466

Oliver Exterminating Corp.              Services            $289

Olympic Tower                       Maintenance Fees      $5,231

PR Aqueduct and Sewer Authority         Services          $6,905

PR Asset Portfolio 2013 1                Debts        $4,655,201
International
270 Munoz Rivera Avenue
Suite 202
San Juan, PR 00918

PR Electric Power Authority              Services           $367


Republic Services Inc.                    Waste             $384
                                        Disposal

Ricoh Puerto Rico Inc.                  Copiers             $980
                                         Lease

State Insurance Fund                    Workmen           $1,797
                                     Compensation

Torcos Inc.                            Supplies             $511


OFFSHORE GROUP: F3 Says Vantage Should Reveal True Intentions
-------------------------------------------------------------
The Chapter 11 reorganization plan of Offshore Group Investment
Limited ("OGIL"), its parent being Vantage Drilling Company
("Vantage"), was confirmed on January 14, 2016 at the U.S.
Bankruptcy Court in Wilmington, Delaware.  Hours before the hearing
was commenced, OGIL amended the plan and continued to file
additional supplements with material changes.  Vantage Drilling
Company is in liquidation in the Cayman Islands and the Cayman
Court granted the winding up order at a hearing on January 18,
2016.

Mr. Nobu Su, the sole owner of F3 Capital which is a shareholder of
Vantage, and the Chairman of Taiwanese shipping firm TMT, expressed
his concern about the Chapter 11 filing, and said, "There remain
questions surrounding the intentions of Vantage, and the lack of
effort to provide full transparency and disclosure."  The Debtors
filed nothing showing the assets and liabilities of the various
entities.  There have been concerns raised regarding the Vantage
operations in Hungary and Poland.  The Debtors did not file
Schedules or Statement of Financial Affairs showing the assets and
liabilities leaving the very important facts in any bankruptcy a
secret in the Vantage case.  

Only after Mr. Su attempted to object to the light speed of the
Bankruptcy did Vantage admit that the Plan was based on a
Restructuring Agreement between Vantage, OGIL and Lenders which had
a key term Vantage's directors could not agree to because it was
contrary to Cayman Law which required a shareholder vote.  F3
Capital is one of the largest shareholders of Vantage.

Moreover, Vantage reported it had $250 million in September 2015
but there has not been a proper explanation on what happened to
these funds.  The Delaware Bankruptcy Court found that F3 Capital
and Mr. Su lacked standing so they could not cross examine any
witnesses at the confirmation hearing.  There was a dearth of
information supporting the lenders had secured claims under Cayman
law as it related to the Cayman companies or the stock of those
companies.  It is also questioned why Mr. Paul Bragg was nominated
as an officer and director of any of Vantage's subsidiaries given
his track record.

Mr. Su continued, "The true intentions of Vantage must be fully
revealed.  This involves answering some key questions regarding its
conduct in recent years.  There is a lack of transparency regarding
the OGIL Prepackaged Plan."  Further, Mr. Su stated "This 'Perfect
Plan' reminds me of what we saw in the financial crisis with the
public being shut out of what was really going on with Lehman,
Barclays, Nomura and other companies only to learn years later that
taxpayers and consumers were the true victims paying to save banks
in the US and abroad from bad management."

                     About Offshore Group

Offshore Group Investment Limited is an international offshore
drilling company operating a fleet of modern, high-specification
drilling units around the world.  Its principal business is to
contract their drilling units, related equipment, and work crews to
drill underwater oil and natural gas wells for major, national, and
independent oil and natural gas companies.

Offshore Group Investment Limited and 23 other units of publicly
traded Vantage Drilling Company filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12421) on Dec. 3, 2015
to pursue a prepackaged restructuring backed by Vantage.

Christopher G. DeClaire, the authorized officer, signed the
petition.

The Debtors have engaged Weil, Gotshal & Manges LLP as counsel;
Richards, Layton & Finger, P.A. as co-counsel; Lazard Freres & Co.
LLC as investment banker; Alvarez & Marsal North America, LLC, as
restructuring advisor; and Epiq Bankruptcy Solutions, LLC as claims
and noticing agent.


OFFSHORE GROUP: Judge Enters Plan Confirmation Order
----------------------------------------------------
Judge Brendan L. Shannon on Jan. 15, 2016, entered Findings of
Fact, Conclusions of Law and Order confirming Offshore Group
Investment Limited, et al.'s Joint Prepackaged Plan and approved
the Disclosure Statement.

The Prepackaged Plan is supported by 98.88% of the Debtors' secured
term loan and noteholders and 100% of the Debtors' secured
revolving lenders. These are the only creditors entitled to vote on
the Prepackaged Plan.  Unsecured claims are unimpaired.

The Debtors told the Court that they face real, tangible, and
irreparable harm if these chapter 11 cases are delayed, even for a
brief period.  The Debtors said they are at a critical juncture in
two key contracts -- the renegotiation of an existing drilling
contract with a major, long-term customer and the bidding process
on a drilling contract offered by another major historical
customer—one of the few available contracts in the extremely
distressed oil industry.  As Mr. Christopher DeClaire notes, the
existing customer has been extremely focused on January 14, 2016 as
the scheduled date for confirmation and will likely terminate their
existing contract with the Debtors if confirmation is delayed.
Similarly, Mr. DeClaire explains that without the prompt emergence
from bankruptcy, they will likely not prevail on the bid for the
new contract and will effectively be financially disqualified from
bidding on new contracts.  Thus, if confirmation is delayed even
slightly, the Debtors face a very real possibility of liquidation.


                         Nobu Su Objection

In a Jan. 13 filing, the Debtors asked the Court to overrule the
lone remaining objection, which was filed by Hsin Chi Su a/k/a
Nobu Su ("Nobu Su").

In their objection, Nobu Su and F3 Capital say the Debtors attempt
to favor current management and favored creditors to the detriment
of parties like Mr. Su, F3 Capital and the public shareholders and
creditors of Vantage Drilling Company by taking actions to divest
Vantage Drilling Company of assets without complying with Cayman
Law.  The Debtors suggest that unsecured creditors are unimpaired.
However, they are impaired given there is a provision to deny
post-petition interest, Nobu Su and F3 Capital argue.  Furthermore,
they note that the universe of unsecured creditors is unknown.  The
Debtor's Plan and Disclosure Statement, they point out, also does
not deal with the issue of potential maritime claims which would
prime other claims and could arise after confirmation.

"The Restructuring Agreement between Vantage and the Debtors
attempts to oppress Vantage shareholders by denying them a vote on
the Vantage Board's agreement to file a winding up petition --
which was a key component of the Restructuring Agreement. The
Chapter 11 Debtors aided and abetted Vantage in facilitating the
oppression and breach of fiduciary duty.  Ultimately, the Vantage
management used Wells Fargo to file the Cayman winding up petition
in an effort to subvert the requirement for a special resolution on
a voluntary winding up, which resolution would require a
shareholder meeting," Nobu Su and F3 Capital said in the filing.

The Debtors respond that Mr. Su has no legal rights against any
Debtor in the Chapter 11 cases.  Mr. Su is the shareholder of an
entity (F3 Capital) that holds a disputed, unliquidated claim
against and equity interest in Vantage Drilling Company ("Vantage
Parent"), the nondebtor parent of OGIL.

According to the Debtors, Mr. Su's rights against Vantage Parent
will be addressed in the Cayman Islands' proceeding, along with the
$1.5 billion deficiency claim of the Debtors' secured term loan
lenders and noteholders that also exists in that proceeding.

Refuting Mr. Su's contentions that shareholders are deprived of
significant value in the Debtors' estates, the Debtors aver that
Vantage Parent is "hopelessly out of the money."

The Debtors' Estimated Enterprise Value only adds up to somewhere
between $1.11 billion and $1.30 billion.  Moreover, the Debtors
have significant secured debt in the amount of approximately $2.643
billion.  This figure exceeds the Estimated Enterprise Value range
by approximately $1.5 billion.  In addition, the equity in OGIL and
the other Debtors in the Chapter 11 cases was pledged as collateral
to the Debtors' secured creditors.

As a consequence of the fact that the Debtors' debt significantly
exceeds its equity, the "divestment" of Vantage Parent's interest
in the Debtors and their assets under the Prepackaged Plan is not
improper – it is a function of the absolute priority rule.

Another party, the United States, filed a limited objection,
seeking clarification that its rights will not be affected and
impaired.  The United States later withdrew its objection.

A copy of the declaration of James Stuart Eldridge of Maples and
Calder, the Cayman Islands counsel to Vantage Drilling Company, in
support of confirmation is available for free at:

     http://bankrupt.com/misc/Offshore_G_174_Decla

A copy of the Plan Confirmation Order is available for free at:

     http://bankrupt.com/misc/Offshore_G_188_Plan_Order.pdf

                       The Prepackaged Plan

The Debtors' restructuring will leave the Debtors' business intact
under OGIL and will substantially de-lever it.  The Debtors'
balance sheet liabilities will be reduced from greater than $2.6
billion in secured debt to $969 million in secured debt or $219
million in secured debt once the New Secured Convertible PIK Notes
are converted into New Common Shares.  

Under the terms of the Prepackaged Plan, holders of Allowed
Administrative Expense Claims, Fee Claims, and Priority Tax Claims
shall be paid in full in cash.  Holders of Allowed Claims in Class
1 (Priority Non-Tax Claims), Class 2 (Other Secured Claims), Class
5 (General Unsecured Claims), and Class 6 (Intercompany Claims),
will be left unimpaired.  Holders of Allowed Claims in Class 7
(Subordinated Claims) and holders of Interests in Class 9
(Intercompany Interests) will receive no distribution and will be
Impaired.

A copy of the Amended Prepackaged Plan filed by the Debtors on Jan.
11, 2016, is available for free at:

     http://bankrupt.com/misc/Offshore_G_166_Am_Plan.pdf

Copies of the Plan Supplements filed by the Debtors are available
at:

     http://bankrupt.com/misc/Offshore_G_101_Plan_Supplement.pdf

     http://bankrupt.com/misc/Offshore_G_177_Plan_Supplement_2.pdf

     http://bankrupt.com/misc/Offshore_G_180_Plan_Supplement_3.pdf

Attorneys for the Debtors:

         RICHARDS, LAYTON & FINGER, P.A.
         Mark D. Collins, Esq.
         Daniel J. DeFranceschi, Esq.
         Zachary I. Shapiro, Esq.
         One Rodney Square
         920 North King Street
         Wilmington, DE 19801
         Telephone: (302) 651-7700
         Facsimile: (302) 651-7701

                - and -

         WEIL, GOTSHAL & MANGES LLP
         Ray C. Schrock, P.C.
         Ronit J. Berkovich
         767 Fifth Avenue
         New York, NY 10153
         Telephone: (212) 310-8000
         Facsimile: (212) 310-8007

Nobu Su and F3 Capital's attorneys:

         MONZACK MERSKY MCLAUGHLIN AND BROWDER, P.A.
         Rachel B. Mersky, Esq.
         1201 N. Orange Street, Suite 400
         Wilmington, DE 19801
         Telephone: (302) 656-8162
         Facsimile: (302) 656-2769
         E-mail: rmersky@monlaw.com

                - and -

         HOOVER SLOVACEK LLP
         Deirdre Carey Brown, Esq.
         Galleria Tower II
         5051 Westheimer, Suite 1200
         Houston, TX 77056
         Telephone: 713-977-8686
         Facsimile: 713-977-5395
         E-mail: brown@hooversovacek.com

                       About Offshore Group

Offshore Group Investment Limited is an international offshore
drilling company operating a fleet of modern, high-specification
drilling units around the world.  Its principal business is to
contract their drilling units, related equipment, and work crews to
drill underwater oil and natural gas wells for major, national, and
independent oil and natural gas companies.

Offshore Group Investment Limited and 23 other units of publicly
traded Vantage Drilling Company filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12421) on Dec. 3, 2015
to pursue a prepackaged restructuring backed by Vantage.

Christopher G. DeClaire, the authorized officer, signed the
petition.

The Debtors have engaged Weil, Gotshal & Manges LLP as counsel;
Richards, Layton & Finger, P.A. as co-counsel; Lazard Freres & Co.
LLC as investment banker; Alvarez & Marsal North America, LLC, as
restructuring advisor; and Epiq Bankruptcy Solutions, LLC as claims
and noticing agent.


PATRIOT COAL: Courtney and Mohler Say Lease Deemed Rejected
-----------------------------------------------------------
Courtney Company and Mohler Lumber Company, lessors of mining
property to Robin Land Company, LLC, an affiliate of Patriot Coal
Corporation, filed a response to the Debtors' Notice of Filing of
Third Amended Plan Supplement.

The Amended and Restated Purchase Agreement dated as of Oct. 27,
2015 by and among Virginia Conservation Legacy Fund (VCLF), ERP
Settlement, LLC, ERP Compliant Fuels, LLC, and the Debtors
contained a schedule of assumed leases.  Under the purchase
agreement states that leases must be assumed or rejected within 60
days of the Closing Date.

The Third Amended Plan Supplement contemplates additional time for
VCLF to decide what to do with respect to the Courtney Lease and
the Mohler Lease.  According to Courtney and Mohler, the Debtors
cannot, under applicable law, unilaterally leave open-ended the
assumption or rejection of nonresidential real property leases.
Courtney and Mohler say they have not provided written consent to
any further extension of time and therefore, the Courtney Lease and
the Mohler Lease are deemed rejected.

Courtney Co. and Mohler Lumber Co. are represented by:

         Peter M. Pearl, Esq.
         SPILMAN THOMAS & BATTLE, PLLC
         P.O. Box 90
         Roanoke, Virginia 24002
         Tel: (540) 512-1832
         Fax: (540) 342-4480
         Email: ppearl@spilmanlaw.com

                  About Patriot Coal Corporation

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

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

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

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

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

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


PIONEER POWER: Debt Issues Cast Going Concern Doubt
---------------------------------------------------
Pioneer Power Solutions, Inc.'s liquidity and ability to operate
could be adversely affected and raise substantial doubt as to its
ability to satisfy its liabilities as they fall due, pending
resolution of its debt-related issues, according to Nathan J.
Mazurek, president, chief executive officer and chairman of the
board of directors, and Andrew Minkow, chief financial officer,
secretary and treasurer of the company in a November 23, 2015
regulatory filing with the U.S. Securities and Exchange
Commission.

Messrs. Mazurek and Minkow related: "At September 30, 2015, we had
total debt of $16.1 million and no cash and cash equivalents on
hand.  We have historically met our cash needs through a
combination of cash flows from operating activities and bank
borrowings under our revolving credit facilities.  Our cash
requirements are generally for operating activities, debt
repayment, capital improvements and acquisitions.

"We are subject to total leverage ratio and fixed charge coverage
ratio covenants, as well as limitations on intercompany
indebtedness under our credit facilities with our lender and in an
event of default, the lender could declare all outstanding
obligations immediately due and payable.  We have determined that
we did not meet the existing total leverage and fixed charge
coverage ratio covenants, nor the limitation on intercompany
indebtedness under our credit facilities for the measurement period
ending September 30, 2015.  In addition, we did not duly pay and
discharge our payroll tax obligations in a manner compliant with
the covenant requirements of our U.S. Facilities.

"Based on these determinations,  we began discussions with our
lender and secured a waiver of defaults dated November 18, 2015
with respect to our U.S. credit agreement and our Canadian letter
loan agreement, to suspend testing of the existing financial
defaults until January 31, 2016 and to permit borrowings of up to
$3.0 million by our Canadian subsidiary in order to provide
financial support to our U.S. operations, subject to the
satisfaction of new financial reporting requirements and other
conditions.  As future compliance with the existing financial
covenants is not expected before January 31, 2016, we intend to
have further discussions with our lender to extend the waiver, or
amend the existing agreements to reset covenant measures to
correspond to current forecasts.  Until such time that we are able
to revise our financial covenants to a level that we believe is
achievable, and resolve our federal payroll tax matter to the
satisfaction of our lender, all outstanding long-term term debt
with the lender will be reclassified as a current liability.  

"There can be no assurance that we will be able to secure a
resolution and, accordingly, our liquidity and ability to operate
could be adversely affected and raise substantial doubt as to our
ability to satisfy our liabilities as they fall due.

"Our current plans include amendments to our existing credit
facilities to revise covenants, and to obtain additional funding
under such credit facilities to finance our cash requirements for
anticipated operating activities, restructuring and integration
plans, capital improvements and scheduled principal repayments of
long-term debt."  

At September 30, 2015, the company had total assets of $72,577,000,
total liabilities of $44,587,000 and total shareholders' equity of
$27,990,000.

The company generated a net loss of $3.6 million during the three
months ended September 30, 2015, as compared to net earnings of
$1.8 million for the three months ended September 30, 2014.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/jgf9pmb

Pioneer Power Solutions, Inc., and its subsidiaries manufacture,
sell and service a range of specialty electrical transmission,
distribution and on-site power generation equipment for
applications in the utility, industrial, commercial and backup
power markets.  The company is headquartered in Fort Lee, New
Jersey and operates from 14 additional locations in the U.S.,
Canada and Mexico for manufacturing, centralized distribution,
engineering, sales and administration.


PRIMORSK INT'L: Nordea Questions Bankruptcy Court's OK on Cash Use
------------------------------------------------------------------
Sam Chambers, writing for Splash24/7, reports that the attorneys
for Swedish bank Nordea, which has a $530 million secured loan
facility with Primorsk International Shipping Limited, have
questioned the Bankruptcy Court's ruling allowing the Company to
use encumbered cash in order to keep operations of its nine-strong
fleet afloat in Chapter 11.

TradeWinds relates that the Bank calls the Company's restructuring
plan "unrealistic".

Headquartered in Nicosia, Cyprus, Primorsk International Shipping
Limited (Prisco) aka PISL operates a fleet of ice-class oil tankers
in the Arctic.  It was founded in 2004 and is owned by Apington
Investments, a British Virgin Islands holding company, which is
controlled by Russian native Alexander Kirilichev.

The Company (Bankr. S.D.N.Y. Case No. 16-10073) and affiliates
Boussol Shipping Limited (Bankr. S.D.N.Y. Case No. 16-10074),
Malthus Navigati on Limited (Bankr. S.D.N.Y. Case No. 16-10075),
Jixandra Shipping Limited (Bankr. S.D.N.Y. Case No. 16-10076),
Levaser Navigation Limited (Bankr. S.D.N.Y. Case No. 16-10077),
Hermine Shipping Limited (Bankr. S.D.N.Y. Case No. 16-10078),
Laperouse Shipping Limited (Bankr. S.D.N.Y. Case No. 16-10079),
Prylotina Shipping Limited (Bankr. S.D.N.Y. Case No. 16-10080),
Baikal Shipping Ltd (Bankr. S.D.N.Y. Case No. 16-10081), and Vostok
Navigation Ltd (Bankr. S.D.N.Y. Case No. 16-10082) filed separate
Chapter 11 bankruptcy petitions on Jan. 15, 2016.  The Company's
petition was signed by Holly Felder Etlin, chief restructuring
officer.

The Debtors estimated their assets and liabilities at between $100
million and $500 million each.

Judge Martin Glenn presides over the case.

Andrew G. Dietderich, Esq., at Sullivan & Cromwell LLP serves as
the Debtors' bankruptcy counsel.

AlixPartners, LLP, is the Debtors' financial and restructuring
advisor.


PROTICA INC: Court Affirms Trial Court's Order vs. JFD
------------------------------------------------------
Appellant, J.F.D., Jr., appeals from the trial court's March 9,
2015, order denying his petition for modification of a December 23,
2013 child support order.

Judge Steven C. Tolliver dismissed the Appellant's petition,
reasoning in large part that the Appellant's challenges relate to
circumstances that predate the prior support order, and that his
allegations of changed circumstances lacked credibility.  Thus, the
Appellant cannot establish a change in circumstances.  The
Appellant counters that the alleged change in circumstances
occurred during the weeks between the May 20, 2013, hearing and the
July 25, 2013, support order.

In the Non-Precedential Decision dated December 21, 2015, which is
available at http://is.gd/GIyKdBfrom Leagle.com, the Superior
Court of Pennsylvania affirmed the trial court's order.

The case is M.A.D. Appellee, v. J.F.D., JR. Appellant, No. 1026 EDA
2015.

Protica, founded in 2001, is headquartered in Whitehall,
Pennsylvania.  The Company relocated from Horsham, Pennsylvania,
to the Lehigh Valley in January 2009, occupying and rehabilitating
the former vacant Lehigh Valley Dairy Plant near Allentown.
Protica has approximately 60 employees and is privately held.


PTC SEAMLESS: Court Approves Dismissal Protocol
-----------------------------------------------
The Hon. Thomas P. Agresti of the U.S. Bankruptcy Court for the
Western District of Pennsylvania authorized the dismissal of the
Chapter 11 case of PTC Seamless Tube Corp., formerly known as PTC
Alliance Pipe Acquisition LLC, upon the implementation of certain
terms and conditions.

The order also provided that, among other things:

   (1) as of the date of dismissal of the Chapter 11 cases, the
Debtor's notice and claims agent, Logan & Company, will be relieved
of any further obligations with respect to the case;

   (2) all estate professionals retained in the case will file
final fee applications for allowance and payment of all fees and
expenses incurred during the case; and

   (3) an omnibus hearing on the final fee applications will be
held, if necessary, on Jan. 21, 2016, at 11:00 a.m.

The Debtor and the Official Committee of Unsecured Creditors
jointly requested that the Court authorize procedures to implement
a structured dismissal.  The proposed dismissal procedures order
directs the Clerk to dismiss the case without the need for a
further order of the Court upon the filing of the certification.

The parties noted that the relief requested will result in the
prompt wind-down of the Debtor's estate and will minimize the
burden on the Court and the parties of holding open the case.

Andrew M. Howley, the chief financial officer and a member of the
board of directors, made a  declaration in support of the joint
motion.

                           About PTC Seamless

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

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

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

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

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

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

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

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


PTC SEAMLESS: Has Deal Discharging Wells Fargo Secured Claim
------------------------------------------------------------
Judge Thomas P. Agresti of the United States Bankruptcy Court for
the Western District of Pennsylvania approved the stipulation and
order regarding the Scheduled Claim of Wells Fargo Bank Bank,
National Association.

The parties had stipulated and agreed that the Secured Claim is
paid in full, satisfied, and discharged and that the Debtor has no
further obligations to the Administrative Agent or any of the
Pre-Petition ABL Lenders under the ABL Facility or related
documents.

The parties further agreed that all security interests and liens
upon any and all properties and assets of the Debtor granted by the
Debtor to the Administrative Agent and the Pre-Petition ABL Lenders
in connection with the ABL Facility are released and terminated.

PTC Seamless Tube Corp. is represented by:

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

Wells Fargo Bank, National Association, as administrative and
collateral agent is represented by:

          Daniel F. Fiorillo, Esq.
          Chad B. Simon, Esq.
          OTTERBOURG P.C.
          230 Park Avenue
          New York, NY 10169
          Telephone: (212) 905-3616
          Facsimile: (212) 682-6104
          Email: dfiorillo@otterbourg.com
                 csimon@otterbourg.com

             About PTC Seamless

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

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

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

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

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

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

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

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


PTC SEAMLESS: Seeks to Have Charbon's Claims Estimated at $0
------------------------------------------------------------
PTC Seamless Tube Corp., f/k/a PTC Alliance Pipe Acquisition LLC,
asks the U.S. Bankruptcy Court for the Western District of
Pennsylvania to determine that the claims of Charbon Contracting,
LLC, each have a secured value of $0 pursuant to Section 506(a) of
the Bankruptcy Code and Rule 3012 of the Federal Rules of
Bankruptcy Procedure.

According to the Debtor, neither Charbon's objection to the Sale
Motion nor its Mechanic's Lien provide the date on which Charbon
commenced work on the Seamless project.  The Debtor disputed Claim
No. 20, which includes an attachment that alleges that Charbon
performed its work for Robinson stating that it is secured by a
mechanic's lien against real property located at 500 Frank Yost
Lane, Hopkinsville, KY.

As the Court recognized early in this case "the secured lenders
claims. . . are so greatly in excess of the value of the Debtor's
assets . . . that neither Robinson nor any of the unsecured
creditors would receive anything upon a liquidation of the Debtor.
It is not even a close call," the Debtor asserted.

Because Charbon's Mechanic's Lien is junior to the liens and
security interests securing the DIP Loan and Pre-Petition Secured
Loans, among others, and the collateral securing the DIP Loan and
Pre-Petition Secured Loans is insufficient to pay those obligations
in full, Charbon has no interest in the Frank Yost Lane Property,
the Debtor concluded.  Consequently, the secured amount of
Charbon's Claims had no value where senior liens exceeded value of
the collateral, the Debtor added.

PTC Seamless Tube Corp. is represented by:

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

              About PTC Seamless

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

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

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

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

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

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

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

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


REICHHOLD HOLDINGS: Seeks Approval of $21-Mil. U.S. Settlement
--------------------------------------------------------------
Reichhold Holdings US, Inc., and its affiliated debtors ask the
U.S. Bankruptcy Court for the District of Delaware to approve the
Settlement Agreement that it had entered into with the United
States of America.

The Debtors relate that United States of America filed 10 claims
against Reichhold Liquidation, Inc. ("Reichhold") on behalf of the
U.S. Environmental Protection Agency ("EPA"), the U.S. Department
of the Interior ("DOI") and the U.S. Department of Commerce, which
is acting through the National Oceanic and Atmospheric
Administration ("NOAA").  The Claims seek an aggregate amount of
about $2.532 billion for: (a) the costs that the EPA has incurred
and will incur responding to actual or threatened releases of
hazardous substances at eight sites; and damages for injury to,
destruction of, or loss of natural resources, including the
reasonable costs of assessing such injury, destruction, or loss,
resulting from actual or threatened releases of hazardous
substances at two sites.  The Debtors add that they dispute the
validity and amounts of the claims.

The Debtors tell the Court that rather than litigate, the Parties
engaged in extensive discussions and reached a settlement, which
contains, among others, these terms:

   (a) The United States shall have Allowed General Unsecured
Claims against the Debtors on a site-by-site basis, some of which
are as follows:

        (i) With respect to the Peterson/Puritan, Inc. Superfund
Site, the United States on behalf of the EPA will have an Allowed
General Unsecured Claim of $205,211 against the Debtors.

       (ii) With respect to the Berry's Creek Study Area operable
unit of the Ventron/Velsicol Superfund Site, the United States on
behalf of the EPA will have an Allowed General Unsecured Claim of
$400,000 against the Debtors.

      (iii) With respect to the Lower Passaic River Study Area of
the Diamond Alkali Superfund Site, the United States on behalf of
the EPA will have an Allowed General Unsecured Claim of $8,000,000
against the Debtors.

       (iv) With respect to the Yosemite Slough Superfund Site, the
United States on behalf of the EPA will have an Allowed General
Unsecured Claim of $268,000 against the Debtors.

   (b) The Debtors own property located in Fort Valley, Georgia, a
portion of which is in the Woolfolk Chemical Works, Inc. Superfund
Site.  The Settlement resolves and limits any liability of the
Debtors, the Liquidating Trust, and the Liquidating Trustee related
to the property in Fort Valley, including the property in the
Woolfolk Chemical Works, Inc. Superfund Site.

   (c) The Parties covenant not to sue each other.

   (d) Under 42 U.S.C. Section 9613(f)(2), the Debtors will not be
liable for claims for contribution regarding matters addressed in
the Settlement.

   (e) The United States will file no additional claims against
Reichhold on account of the sites to which the Claims are related.

The Settlement resolves about $2.532 billion in claims for around
$21 million.  According to the Debtors, because of the significant
amount of the United States' claims, without their resolution,
unsecured creditors would receive at best an insignificant
distribution on account of their claims.  The Debtors assert that
litigation over the amount of the United States' claims would be
complicated, costly, and time consuming.  The Debtors further
assert that not only would the cost of such litigation reduce the
funds available for unsecured creditors, the litigation and
possible appeals could take years.

The Debtors' Motion is scheduled for hearing on Feb. 4, 2016 at
11:30 a.m.  The deadline for the filing of objections to the
Debtors' Motion is set on Jan. 28, 2016 at 4:00 p.m.

Reichhold Holdings US is represented by:

          Norman L. Pernick, Esq.
          Marion M. Quirk, Esq.
          David W. Giattino, Esq.
          COLE SCHOTZ P.C.
          500 Delaware Avenue, Suite 1410
          Wilmington, DE 19801
          Telephone: (302)652-3131
          Facsimile: (302)652-3117
          E-mail: npernick@coleschotz.com
                  mquirk@coleschotz.com
                  dgiattino@coleschotz.com

                 - and -

          Gerald H. Gline, Esq.
          Felice R. Yudkin, Esq.
          COLE SCHOTZ P.C.
          25 Main Street
          Hackensack, NJ 07602-0800
          Telephone: (201)489-3000
          Facsimile: (201)489-1536
          E-mail: ggline@coleschotz.com
                  fyudkin@coleschotz.com

                   About Reichhold Holdings US

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

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

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

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.
Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.

Logan & Company is the company's claims and noticing agent.

The cases are assigned to Judge Mary F. Walrath.

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

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

On April 1, 2015, the U.S. Trustee named three non-union retirees
of Debtors to serve as the official Non-Union Retiree Committee.
Each of the Retiree Committee members is receiving retiree welfare
benefits from one or more of the Debtors.  The Retiree Committee
tapped the law firm of Stahl Cowen Crowley Addis LLC as its
counsel.


REICHHOLD HOLDINGS: Seeks Approval of PBGC Stipulation
------------------------------------------------------
Reichhold Holdings US, Inc. and its affiliated debtors ask the U.S.
Bankruptcy Court for the District of Delaware to approve the
Stipulation that it had entered into with the Pension Benefit
Guaranty Corporation ("PBGC").

The Debtors relate that PBGC filed proofs of claim in the Chapter
11 cases.  Through the proofs of claim, the PBGC is asserting 12
claims, three against each Debtor.  These claims are as follows:

     (a) Four Claims for unfunded benefit liabilities due to the
PBGC with respect to the Reichhold, Inc. Retirement Plan ("Pension
Plan"): Claim Nos. 2385,  4893, 4894, and 4895 ("UBL Claims");

     (b) Four Claims for minimum required contributions owed to the
Pension Plan: Claim Nos. 2387, 4899, 4900 and 4901; and

     (c) Four Claims for unpaid premiums, including termination
premiums, due to the PBGC with respect to the Pension Plan: Claim
Nos. 2386, 4896, 4897 and 4898.

The Debtors relate that they dispute the Claims' validity and
amounts.  They further relate that rather than litigate these
issues, the Debtors engaged the PBGC in discussions about the
Claims, and the Parties have entered into a Stipulation, which
provides the PBGC with an allowed administrative expense in the
amount of $950,000, and an allowed general unsecured claim in the
amount of $102 million.

The Debtors contend that if the Stipulation is approved, they would
avoid needless litigation and the substantial costs that goes with
such litigation.  The Debtors further contend that they will avoid,
among other things, a dispute over whether parts of the Claims have
priority as administrative expenses under Sections 503(b) and
507(a)(2) of the Bankruptcy Code.  The Debtors assert that while
they would prevail against the PBGC, the outcome is not free from
doubt and any litigation would be costly.

The Debtors' Motion is scheduled for hearing on Feb. 4, 2016, at
11:30 a.m.  The deadline for the filing of objections to the Motion
is Jan. 28, 2016 at 4:00 p.m.

Reichhold Holdings US, Inc., and its affiliated debtors are
represented by:

          Norman L. Pernick, Esq.
          Marion M. Quirk, Esq.
          David W. Giattino, Esq.
          COLE SCHOTZ P.C.
          500 Delaware Avenue, Suite 1410
          Wilmington, DE 19801
          Telephone: (302)652-3131
          Facsimile: (302)652-3117
          E-mail: npernick@coleschotz.com
                  mquirk@coleschotz.com
                  dgiattino@coleschotz.com

                 - and -

          Gerald H. Gline, Esq.
          Felice R. Yudkin, Esq.
          COLE SCHOTZ P.C.
          25 Main Street
          Hackensack, NJ 07602-0800
          Telephone: (201)489-3000
          Facsimile: (201)489-1536
          E-mail: ggline@coleschotz.com
                 fyudkin@coleschotz.com

                   About Reichhold Holdings US

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

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

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

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.
Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.

Logan & Company is the company's claims and noticing agent.

The cases are assigned to Judge Mary F. Walrath.

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

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

On April 1, 2015, the U.S. Trustee named three non-union retirees
of Debtors to serve as the official Non-Union Retiree Committee.
Each of the Retiree Committee members is receiving retiree welfare
benefits from one or more of the Debtors.  The Retiree Committee
tapped the law firm of Stahl Cowen Crowley Addis LLC as its
counsel.


RELATIVITY FASHION: Committee Inks Deal with Manchester Entities
----------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 case of Relativity Fashion, LLC, et al., asks the U.S.
Bankruptcy Court for the Southern District of New York to approve a
settlement agreement with Manchester Securities Corp. , Manchester
Library Company LLC, Heatherden Securities LLC, Heatherden
Securities Corp., Heatherden Holdings LLC, Beverly Blvd 2 Holdings
LLC, Beverly Blvd 2 LLC, Elliott Management Corporation, Elliott
Associates, L.P., Elliott Capital Advisors, L.P., Elliott
International, L.P., Braxton Associates, Inc., and Elliott
International Capital Advisors Inc.

The Committee asserts that it has a reasonable litigation position
in challenging the Manchester Transactions; however, the
determination of any adversary proceeding has an inherent level of
significant risk, uncertainty, and cost.  The Committee thus
believes that it would be most effective and value-maximizing to
the estates that would eventually avoid the cost and risk of
prosecuting those claims through a number of costly and highly
contested legal, valuation, and solvency challenges.

The Committee further asserts that the approval of the Settlement
Agreement enhances the recovery of the Debtors' general unsecured
creditors because the Plan provides for a potential recovery pool
of not less than $17.5 million from the Reorganized Debtors.  The
Committee explains that this waiver increases to $70 million if the
Manchester Parties object to the Plan and prevent it being
confirmed by the Court, and also, this partial waiver of
distributions from the unsecured pool will apply whether the Plan
is confirmed or not.

On the other hand, the Committee emphasizes, the Manchester
Securities would continue to seek full pro rata or senior
participation on behalf of its entire $137 million claim should the
Committee not enter into this Settlement Agreement on behalf of
these estates, thereby diluting recoveries without any
corresponding benefit to these estates.

The Committee also points out that commencing an adversary
proceeding against the Manchester Parties would certainly delay
consummation of the proposed Plan while the Settlement Agreement
provides for the immediate resolution of these potential claims,
which reduces the likelihood of threat or delay to the Plan.  The
Settlement Agreement increases the possibility that the Plan will
be approved expeditiously, which will benefit all creditors and
even if the Plan fails, the Settlement Agreement still provides a
significant benefit to the estates' creditors.

Furthermore, the Committee contends that the Settlement Agreement
is the product of protracted, good faith, and arm's-length
negotiations between the Parties' competent counsel.  The Committee
says it considered the resolution embodied in the Settlement
Agreement, after its evaluation of the proposed settlement as fair
and equitable that falls well within the range of reasonableness
and is in the best interest of the Debtors' estates.

Official Committee of Unsecured Creditors is represented by:

          Albert Togut, Esq.
          Frank A. Oswald, Esq.
          Scott E. Ratner, Esq.
          Brian F. Moore, Esq.
          TOGUT, SEGAL & SEGAL LLP
          One Penn Plaza, Suite 3335
          New York, New York 10119
          Telephone: (212) 594-5000
          Facsimile: (212) 967-4258
          Email: altogut@TeamTogut.com
                 frankoswald@teamtogut.com
                 seratner@teamtogut.com
                 bmoore@teamtogut.com

             About Relativity

Relativity -- http://relativitymedia.com/-- is a next-generation
global media company engaged in multiple aspects of content
production and distribution, including movies, television, sports,
digital and music.  More than just a collection of
entertainment-related businesses, Relativity is a content engine
with the ability to leverage each of these business units,
independently and together, to create content across all mediums,
giving consumers what they want, when they want it.

Relativity Studios, the Company's largest division, has produced,
distributed or structured financing for more than 200 motion
pictures, generating more than $17 billion in worldwide box-office
revenue and earning 60 Oscar nominations.  Relativity's films
include Oculus, Safe Haven, Act of Valor, Immortals, Limitless, and
The Fighter.

Relativity Media LLC and its affiliates, including Relativity
Fashion, LLC, sought protection under Chapter 11 of the Bankruptcy
Code on July 30, 2015 (Bankr. S.D.N.Y., Case No. 15-11989).  The
case is assigned to Judge Michael E. Wiles.

The Debtors are represented by Craig A. Wolfe, Esq., Malani J.
Cademartori, Esq., and Blanka K. Wolfe, Esq., at Sheppard Mullin
Richter & Hampton LLP, in New York; and Richard L. Wynne, Esq.,
Bennett L. Spiegel, Esq., and Lori Sinanyan, Esq., at Jones Day, in
New York.

Brian Kushner of FTI Consulting, Inc., serves as chief
restructuring officer and crisis and turnaround manager.  Luke
Schaeffer of FTI Consulting, Inc., serves as deputy CRO.

Blackstone Advisory Partners L.P. serves as the Debtors' investment
banker.  The team is led by Timothy Coleman, Senior Managing
Director, CJ Brown, Senior Managing Director, Paul Sheaffer, Vice
President, and Joseph Goldschmid, Associate.

The Debtors' noticing and claims agent is Donlin, Recano & Company,
Inc.

             *     *     *

An investor group composed of Anchorage Capital Group, L.L.C.,
Falcon Investment Advisors, LLC and Luxor Capital Group, LP on Oct.
21, 2015, completed its purchase of the assets of Relativity
Television.

After selling their TV business, the Debtors and CEO Ryan C.
Kavanaughfiled a proposed plan of reorganization that will allow
the Debtors to reorganize their non-TV business units with a
substantially de-levered balance sheet utilizing new equity
investments and new financing.  Jim Cantelupe, of Summit Trail
Advisors, LLC, has committed to work with the Debtors to raise up
to $100 million of new equity to fund the Plan.


RELATIVITY MEDIA: Must 80% of Pay Fees Owed to FTI, Court Rules
---------------------------------------------------------------
David Lieberman at Deadline.com reports that the Hon. Michael E.
Wiles of the U.S. Bankruptcy Court for the Southern District of New
York ordered Relativity Media on Jan. 20, 2016, to pay 80% of the
fees, and all of the expenses, owed to FTI Consulting, its former
restructuring advisor, for its work through the end of September
2015.

The initial payment agreement the Bankruptcy Court authorized "says
very explicitly" that FTI Consulting "shall" be paid at least 80%
of the fees and all expenses it filed unless there was a timely
objection, Deadline.com relates, citing Judge Wiles.  According to
the report, Judge Wiles said that the Company "did not object" when
the expense claims were made.

Citing Judge Wiles, Deadline.com states that the order shouldn't be
seen as a judgment on any objections the Company might make on the
remaining amounts owed to FTI Consulting.

Deadline.com says that the Company challenged the $4.58 million FTI
Consulting wanted for its work and $251,504 for expenses, saying
that the firm had exceeded its authority in making decisions that
did not serve the studio.  

The Official Committee of Unsecured Creditors, according to
Deadline.com, urged Judge Wiles to make sure that the battle
doesn't "distract from our [Feb. 1] confirmation hearing" for the
Company's plan to emerge from Chapter 11 bankruptcy protection.  As
reported by the Troubled Company Reporter on Jan. 15, 2016, the
Committee filed an objection to FTI Consulting's claims for
payment, citing, among other things, an investigation by a special
committee of the Company's board of directors and the fact that the
Committee has not had an opportunity to conduct its own inquiry.

Deadline.com reports that Judge Wiles also ordered the Company to
"go back to the drawing board" to resolve a technical dispute
involving the terms of a debtor-in-posession financing agreement.
Deadline.com relates that Judge Wiles extended the deadlines for
parties to negotiate the DIP terms but didn't move the Feb. 1 date
for the confirmation hearing.

                         About Relativity

Relativity -- http://relativitymedia.com/-- is a next-generation  

global media company engaged in multiple aspects of content
production and distribution, including movies, television, sports,
digital and music.  More than just a collection of
entertainment-related businesses, Relativity is a content engine
with the ability to leverage each of these business units,
independently and together, to create content across all mediums,
giving consumers what they want, when they want it.

Relativity Studios, the Company's largest division, has produced,
distributed or structured financing for more than 200 motion
pictures, generating more than $17 billion in worldwide box-office
revenue and earning 60 Oscar nominations.  Relativity's films
include Oculus, Safe Haven, Act of Valor, Immortals, Limitless,
and The Fighter.

Relativity Media LLC and its affiliates, including Relativity
Fashion, LLC, sought protection under Chapter 11 of the Bankruptcy
Code on July 30, 2015 (Bankr. S.D.N.Y., Case No. 15-11989).  The
case is assigned to Judge Michael E. Wiles.

The Debtors are represented by Craig A. Wolfe, Esq., Malani J.
Cademartori, Esq., and Blanka K. Wolfe, Esq., at Sheppard Mullin
Richter & Hampton LLP, in New York; and Richard L. Wynne, Esq.,
Bennett L. Spiegel, Esq., and Lori Sinanyan, Esq., at Jones Day, in
New York.

Brian Kushner of FTI Consulting, Inc., serves as chief
restructuring officer and crisis and turnaround manager.  Luke
Schaeffer of FTI Consulting, Inc., serves as deputy CRO.

Blackstone Advisory Partners L.P. serves as the Debtors' investment
banker.  The team is led by Timothy Coleman, Senior Managing
Director, CJ Brown, Senior Managing Director, Paul Sheaffer, Vice
President, and Joseph Goldschmid, Associate.

The Debtors' noticing and claims agent is Donlin, Recano & Company,
Inc.

                           *     *     *

An investor group composed of Anchorage Capital Group, L.L.C.,
Falcon Investment Advisors, LLC, and Luxor Capital Group, LP, on
Oct. 21, 2015, completed its purchase of the assets of Relativity
Television.

After selling their TV business, the Debtors and CEO Ryan C.
Kavanaughfiled a proposed plan of reorganization that will allow
the Debtors to reorganize their non-TV business units with a
substantially de-levered balance sheet utilizing new equity
investments and new financing.  Jim Cantelupe, of Summit Trail
Advisors, LLC, has committed to work with the Debtors to raise up
to $100 million of new equity to fund the Plan.


SAMSON RESOURCES: Landowners Seek Special Statutory Committee
-------------------------------------------------------------
Attorneys representing a group of landowners who leased their
interests in oil, gas, and minerals to Samson Resources, have asked
the Office of the United States Trustee to appoint a special
statutory committee to represent the interests of all 50,000-75,000
landowners that have contractual relationships with the now
bankrupt company.

Central to the formation of the Landowners' Committee would be the
efficient evaluation and resolution of certain allegations made by
landowners against Samson.  The allegations include the contention
that Samson has improper monthly deductions from landowner accounts
and a lack of transparency with respect to royalty deductions and
computations.  Tulsa, Oklahoma-based Samson Resources, an oil and
gas exploration company, filed one of the largest U.S. energy
bankruptcies of 2015 when it requested
Chapter 11 protection last September.

In making the request on behalf of a group of landowners, Scott
Gautier, a partner at Robins Kaplan LLP, noted that a Landowners'
Committee, separate from the statutory committee representing the
interests of general unsecured creditors is appropriate, given the
distinct nature of the landowner-creditor claims.  "Not only are
the claims of the landowners unique from those of general unsecured
creditors, but most of the landowners, taken individually, lack
both the resources and understanding of the bankruptcy process and
the nature of the claims they may have against the Estate," Mr.
Gautier said.  "The absence of such a committee will likely result
in a lack of participation, or worse, misrepresentation of the
claims and interests of the collective group of landowner
creditors."

The Samson Resources case marks the second time in less than a year
that Robins Kaplan has petitioned the Office of the United States
Trustee to appoint a special committee to protect the rights of an
important but disenfranchised group in a bankruptcy proceeding.  In
May 2015, the firm was successful in having a special student
committee appointed to represent the interests of an estimated
500,000 students with $25 billion in claims against Corinthian
Colleges, at the time one of the nation's largest for-profit
college systems.

In separate matters, Robins Kaplan currently represents clients in
Montana and North Dakota with respect to claims arising from
contractual obligations to share profits and fairly and properly
allocate expenses associated with oil drilling operations.  The
firm's clients are the owners of mineral rights across oil fields
in Montana and North Dakota.  The firm's Los Angeles and Bismarck,
North Dakota offices, along with The Edwards Law Firm of Billings,
Montana, are pursuing both contractual and non-contractual rights
on behalf of their clients.

                     About Robins Kaplan

Robins Kaplan LLP is among the nation's premier trial law firms,
with more than 220 lawyers located in Atlanta; Bismarck, N.D.;
Boston; Los Angeles; Minneapolis; Mountain View, Calif.; New York;
Naples, Fla.; and Sioux Falls, S.D. The firm litigates, mediates,
and arbitrates high-stakes, complex disputes, repeatedly earning
national recognition.  Firm clients include -- as both plaintiffs
and defendants -- numerous Fortune 500 corporations,
emerging-markets companies, entrepreneurs, and individuals.

                      About Samson Resource

Samson Resource Co. is a privately-held oil and gas company in
Tulsa, Oklahoma.

As reported by the Troubled Company Reporter on March 30, 2015, Rod
Walton at Tulsa World reported that the Company, beset by huge debt
leverage and falling crude oil prices, confirmed that it is letting
go of one-third of its Tulsa, Oklahoma workforce.  According to the
report, the Company could also file for Chapter 11 bankruptcy
protection.


SANUWAVE HEALTH: Inks Exchange Agreements With Investors
--------------------------------------------------------
SANUWAVE Health, Inc., on Jan. 13, 2016, entered into an exchange
agreement with certain beneficial owners of Series A warrants to
purchase shares of the Company's common stock, $0.001 par value per
share, pursuant to which the Investors exchanged all of their
respective Warrants for either (i) shares of Common Stock or (ii)
shares of Common Stock and shares of the Company's Series B
Convertible Preferred Stock, $0.001 par value.

The Exchange was based on the following exchange ratio: 1 Series A
Warrant = 0.4685 shares of capital stock.  Investors who, as a
result of the Exchange, owned in excess of 9.99% of the outstanding
Common Stock, received a mixture of Common Stock and shares of
Preferred Stock.  They received Common Stock up to the Ownership
Threshold, and received shares of Preferred Stock beyond the
Ownership Threshold (but the total shares of Common Stock and
Preferred Stock issued to such holders was still based on the same
Exchange Ratio).  The relative rights, preferences, privileges and
limitations of the Preferred Stock are as set forth in the
Company's Certificate of Designation of Series B Convertible
Preferred Stock, which was filed with the Secretary of State of the
State of Nevada on Jan. 12, 2016.

In the Exchange an aggregate number of 23,701,428 Warrants were
exchanged for 7,447,954 shares of Common Stock and 292.58224 shares
of Preferred Stock.  Pursuant to the Series B Certificate of
Designation, each of the Preferred Stock shares is convertible into
shares of Common Stock at an initial rate of 1 Preferred Stock
share for 12,500 Common Stock shares, which conversion rate is
subject to further adjustment as set forth in the Series B
Certificate of Designation.  Pursuant to the terms of the Series B
Certificate of Designation, the holders of the Preferred Stock
shares will generally be entitled to that number of votes as is
equal to the number of shares of Common Stock into which the
Preferred Stock may be converted as of the record date of such vote
or consent, subject to the Beneficial Ownership Limitation.

In connection with entering into the Exchange Agreement, the
Company also entered into a Registration Rights Agreement, dated
Jan. 13, 2016, with the Investors.  The Registration Rights
Agreement requires that the Company file with the SEC a
registration statement to register for resale the shares of the
Common Stock issued in connection with the Exchange and the Common
Stock issuable upon conversion of the Preferred Stock shares.

                     About SANUWAVE Health

Alpharetta, Ga.-based SANUWAVE Health, Inc., is an emerging global
regenerative medicine company focused on the development and
commercialization of noninvasive, biological response activating
devices for the repair and regeneration of tissue, musculoskeletal
and vascular structures.

SANUWAVE Health reported a net loss of $5.97 million on $847,000 of
revenues for the year ended Dec. 31, 2014, compared with a net loss
of $11.3 million on $800,000 of revenues in 2013.

As of Sept. 30, 2015, the Company had $1.50 million in total
assets, $6.62 million in total liabilities and a stockholders'
deficit of $5.12 million.

                        Bankruptcy Warning

"The continuation of the Company's business is dependent upon
raising additional capital before the conclusion of fourth quarter
of 2015 to fund operations.  Management's plans are to obtain
additional capital through the issuance of common or preferred
stock, securities convertible into common stock or secured or
unsecured debt, investments by strategic partner for market
opportunities, which may include strategic partnerships or
licensing arrangements or complete a joint venture, partnership or
sale of the wound product to complete the FDA trial successfully
and begin commercialization of the product in 2016.  These
possibilities, to the extent available, may be on terms that result
in significant dilution to the Company's existing shareholders.
Although no assurances can be given, management of the Company
believes that potential additional issuances of equity or other
potential financing transactions as discussed above should provide
the necessary funding for the Company to continue as a going
concern.  If these efforts are unsuccessful, the Company may be
forced to seek relief through a filing under the U.S. Bankruptcy
Code," the Company states in the quarterly report for the period
ended Sept. 30, 2015.


SFX ENTERTAINMENT: S&P Lowers CCR to 'CC', Outlook Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
corporate credit rating on New York City-based SFX Entertainment
Inc. to 'CC' from 'CCC'.  The rating outlook is negative.

At the same time, S&P lowered its issue-level rating on the
company's senior secured second-lien loan to 'CC' from 'CCC'.  The
'4' recovery rating is unchanged, indicating S&P's expectation for
average recovery (30%-50%; lower half of the range) of principal in
the event of a payment default.

"The downgrades reflect our view that SFX's liquidity and cash flow
metrics will continue to significantly deteriorate, and we expect a
payment default to be a virtual certainty, regardless of the time
to default," said Standard & Poor's credit analyst Khaled Lahlo.
"We believe a restructuring or bankruptcy could occur within the
next six months, and there is a high likelihood that SFX would miss
the $15 million senior secured coupon payment due in February 2016
because of the liquidity crisis it is facing."

S&P's negative rating outlook on SFX reflects the company's "weak"
liquidity, its continued cash flow deficits, and the increasing
likelihood of a payment default over the next 12 months.  S&P
believes that SFX's current capital structure and operating model
are unsustainable.

S&P may lower its corporate credit rating on SFX if the company
fails to repay its $15 million senior secured coupon payment due in
February 2016 and if it fails to address the covenant defaults
under it credit agreement by the forbearance period expiration
date.  Failure to address those issues will trigger a cross-default
on the company's other financial obligations, including its
revolving facility.

S&P would consider raising the rating to 'CCC-' if it become
convinced that the company has sufficient liquidity to fund its
operations for the next six months.



SIGNAL INTERNATIONAL: SSG Acted as Adviser in Asset Sale
--------------------------------------------------------
SSG Capital Advisors, LLC ("SSG") acted as the investment banker to
Signal International, Inc. ("Signal" or the "Company") in the sale
of substantially all of its assets to the Teachers' Retirement
System of Alabama and the Employees' Retirement System of Alabama
(collectively, the "RSA").  Subsequent to the sale, the Company was
renamed World Marine, LLC.  The sale was effectuated through a
Chapter 11 bankruptcy plan, which was approved by the U.S.
Bankruptcy Court for the District of Delaware in November 2015.
The transaction closed in December 2015.

Signal is a leading provider of marine and fabrication services
which include new construction, modular fabrication and the
overhaul, repair, upgrade and conversion of offshore drilling rigs
and ships.  With its strategic geographic footprint in Mobile,
Alabama and Pascagoula, Mississippi, the Company maintains prime
locations and extensive marine fabrication capabilities to serve
both domestic and international customers.

Following the destruction of Hurricane Katrina along the Gulf of
Mexico in 2005, the Company experienced an unprecedented backlog of
work orders.  In order to meet demand, Signal used a third-party
recruiting service to hire approximately 500 individuals from India
through the federal government's H-2B guest worker program.  In
2008, a subset of these workers brought litigation against the
Company.  Signal disputed the allegations but subsequently lost the
first case brought to trial in May 2015.  The Company was
experiencing softening demand for shipyard services due to
depressed oil prices and the mounting legal expense and claims
significantly affected its operating performance.  

Signal ultimately settled with the lead plaintiffs and entered into
a plan support agreement which enabled it to file for Chapter 11
protection.  The bankruptcy filing provided a unified forum to
address any future actions that may be taken against the Company
and effectuate the settlement with the plaintiffs through a plan.
The Company's senior lender, the RSA, agreed to serve as the
stalking horse bidder in a sale process under a plan. SSG was
retained as Signal's investment banker for the purpose of marketing
the business and soliciting competing offers to the stalking horse
bid.  The RSA's stalking horse offer was ultimately the highest and
best price for substantially all of the assets of the Company.  The
sale process enabled all key stakeholders to maximize value while
preserving the jobs of substantially all of Signal's employees.

Other professionals who worked on the transaction include:

M. Blake Cleary, Kenneth J. Enos, Jaime L. Chapman, Michael S.
Neiburg, Justin P. Duda and Travis G. Buchanan of Young Conaway
Stargatt & Taylor, LLP, counsel to Signal International, Inc.;

Christopher R. Donoho III, Pieter Van Tol, Philip H. Ehrlich,
Christopher R. Bryant and John D. Beck of Hogan Lovells US, LLP,
counsel to Signal International, Inc.;

Skip Victor, Chief Restructuring Officer for Signal International,
Inc.;

Katie S. Goodman and Scott D. Yates of GGG Partners, LLC, financial
advisors to Signal International, Inc.;

Derek F. Meek, Jeffrey T. Baker and Marc P. Solomon of Burr &
Forman LLP, counsel to the RSA;

Eric D. Schwartz, Gregory W. Werkheiser and Erin R. Fay of Morris
Nichols Arsht & Tunnell LLP, counsel to the RSA;

Adam L. Dunayer and Russell Mason of Houlihan Lokey, Inc.,
financial advisors to the RSA;

Robert J. Feinstein, Bradford J. Sandler, Shirley S. Cho, William
L. Raimseyer, Colin R. Robinson, Peter. J. Keane and Jason H.
Rosell of Pachulski Stang Ziehl & Jones LLP, counsel to the
Unsecured Creditors' Committee; and

Evan Blum, James Fox, Wojciech Hajduczyk, Marshall Glade and Marc
Levee of GlassRatner Advisory & Capital Group LLC, financial
advisors to the Unsecured Creditors' Committee.

                About SSG Capital Advisors, LLC

SSG Capital Advisors is an independent boutique investment bank
that assists middle-market companies and their stakeholders in
completing special situation transactions.  It provides its clients
with investment banking services in the areas of mergers and
acquisitions, private placements, financial restructurings,
valuations, litigation and strategic advisory.  

SSG Capital Advisors, LLC (Member FINRA, SIPC) is a wholly owned
broker dealer of SSG Holdings, LLC.  SSG is a registered trademark
for SSG Capital Advisors, LLC.  SSG provides investment banking,
restructuring advisory, merger, acquisition and divestiture
services, private placement services and valuation opinions.

                   About Signal International

Signal International Inc. -- http://www.signalint.com/-- primarily
engages in the business of offshore drilling rig overhaul, repair,
upgrade, and conversion, as well as new shipbuilding construction.
Additionally, Signal provides services to the general marine and
heavy fabrication markets for barges, power plants, and modular
construction.  

Signal International, LLC ("SI LLC"), was organized on Dec. 6,
2002, as a limited liability company after acquiring the assets of
the Offshore Division of Friede Goldman Halter from bankruptcy.  SI
Inc. was incorporated on Oct. 12, 2007, and began operations with
offshore fabrication and repair in Mississippi.  Today, Signal's
corporate headquarters are in Mobile, Alabama, with operations in
Alabama and Mississippi, and a sales office in Texas.

On Oct. 3, 2014, Signal International Texas, L.P., sold
substantially all of its assets to Westport Orange Shipyard, LLC,
in a partially seller-financed transaction for a total purchase
price of $35,900,000.  As part of the transaction, Westport
provided a down payment of $7,000,000 and delivered a promissory
note in the principal amount of $28,900,000 to SI Texas due on or
before Oct. 3, 2019 (the "Texas Note").

On July 12, 2015, SI Inc. and its direct and indirect wholly owned
subsidiaries, including SI LLC, commenced cases under chapter 11 of
title 11 of the United States Code (Bankr. D. Del. Lead Case No.
15-11498).

The Debtors tapped Young Conaway Stargatt & Taylor LLP as
bankruptcy counsel, Hogan Lovells US LLP as general corporate
counsel, GGG Partners, LLC, as financial and restructuring
advisors, and Kurtzman Carson Consultants LLC as claims and
noticing agent.

Signal International Inc. estimated $10 million to $50 million in
assets and $50 million to $100 million in debt.

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


SKYLINE MANOR: Court Refuses to Dismiss Clawback Suits
------------------------------------------------------
The trustee, Ron Ross, of the Skyline Manor Chapter 11 bankruptcy
estate filed an adversary proceeding against 21 defendants to
recover approximately $600,000 in allegedly fraudulent transfers.
A dozen of the small-claim defendants move for dismissal from the
case for improper venue.  All but one of the moving defendants
reside in Indiana; the remaining movant resides in Florida.

In an Order dated December 18, 2015, which is available at
http://is.gd/qnwb8Afrom Leagle.com, Judge Thomas L. Saladino of
the United States Bankruptcy Court for the District of Nebraska
denied the defendants' motion.

The adversary proceeding is RON ROSS, Chapter 11 Trustee,
Plaintiff, v. SCOTT A. BUCKLES; CLARKE REALTY, LLC; DAN ELLIOTT,
INC.; DELK MCNALLY LLP; EAGLE ONE PROPERTIES, LLC; ED FODREA;
HARRISON & MOBERLY, L.L.C.; HERITAGE MEDICAL GROUP, INC.; GERRI M.
LONG; HOWARD LONG; LOWNDES, DROSDICK, DOSTER, KANTOR& REED, P.A.;
JARED K. MCCOWAN; CINDA D. MITCHENER; PARAGON REALTY, LLC; R L
RYNARD CONSTRUCTION, INC. a/k/a R L CONSTRUCTION, INC.; KENDALL
DWAYNE RHEA; RUBICON FOODS, LLC; WEMAMM 1, LLC; WALNUT INVESTORS,
LLC; KIMBERLY R. WILHOIT; and ZIONSVILLE INVESTORS, INC.,
Defendants, Case Nos. BK14-80934, A15-8035 (Bankr. D. Neb.).

The bankruptcy case is IN THE MATTER OF: SKYLINE MANOR, INC.,
Chapter 11, Debtor(s) (Bankr. D. Neb.).

Ron Ross, Plaintiff, is represented by Brandon R. Tomjack, Esq. --
tomjack@bairdholm.com -- Baird Holm LLP, T. Randall Wright, Esq. --
rwright@bairdholm.com -- Baird Holm LLP.

Scott A. Buckles, Defendant, is represented by Kathryn J. Derr,
Esq. -- Kathryn J. Derr, PC, LLO.

                      About Skyline Manor

Skyline Manor Inc. is a Nebraska non-profit corporation that
operates a 199-unit continuing care retirement community and a 140
unit independent living facility in Omaha.  Skyline Manor filed a
Chapter 11 bankruptcy petition (Bankr. D. Neb. Case No. 14-80934)
on May 8, 2014.  The petition was signed by John W. Bartle as
chief restructuring officer.  Judge Thomas L. Saladino presides
over the case.

The Debtor disclosed $19.9 million in assets and $13.7 million in
liabilities as of the Chapter 11 filing.

Mr. Ross has been appointed as the Chapter 11 trustee for Skyline
Manor.


SLAP SHOT: S&P Lowers Corporate Credit Rating to 'D'
----------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on U.S.-based sporting goods retailer Slap Shot Holdings
Corp. and Subsidiaries (d/b/a Sports Authority) to 'D' from 'B-'.
At the same time, S&P lowered the issue-level rating on the term
loan facility to 'D' from 'B-'.

On Jan. 15, the company missed the scheduled interest payment on
its senior subordinated notes.  The company has a 30-day grace
period to make the payment but S&P do not expect a payment to be
made during this timeframe.  A payment default on the senior
subordinated notes also triggers a cross-default provision on the
term loan facility.  S&P understands the company is currently in
talks with lenders in an effort to restructure its debt.



SPANISH BROADCASTING: Attiva Capital No Longer Owns Class A Shares
------------------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Attiva Capital Partners Ltd disclosed that as of Jan.
19, 2016, it does not beneficially own shares of   Class A common
stock of Spanish Broadcasting Systems, Inc.  A copy of the
regulatory filing is available for free at:

                     http://is.gd/YjyRWm

                    About Spanish Broadcasting

Headquartered in Coconut Grove, Florida, Spanish Broadcasting
operates 21 radio stations targeting the Hispanic audience.  The
Company also owns and operates Mega TV, a television operation
with over-the-air, cable and satellite distribution and affiliates
throughout the U.S. and Puerto Rico.  Its revenue for the twelve
months ended Sept. 30, 2010, was approximately $140 million.

Spanish Broadcasting reported a net loss of $20.0 million on $146
million of net revenue for the year ended Dec. 31, 2014, compared
with a net loss of $88.6 million on $154 million of net revenue in
2013.

As of Sept. 30, 2015, the Company had $457 million in total assets,
$551 million in total liabilities and a total stockholders' deficit
of $94 million.

                           *     *     *

In November 2010, Moody's Investors Service upgraded the corporate
family and probability of default ratings for Spanish Broadcasting
System, Inc., to 'Caa1' from 'Caa3' based on improved free cash
flow prospects due to better than anticipated cost cutting and the
expiration of an unprofitable interest rate swap agreement.
Moody's said Spanish Broadcasting's 'Caa1' corporate family rating
incorporates its weak capital structure, operational pressure in
the still cyclically weak economic climate, generally narrow
growth prospects (though Spanish language is the strongest growth
prospect) given the maturity and competitive pressures in the
radio industry, and the June 2012 maturity of its term loan
magnify this challenge.

In July 2010, Standard & Poor's Ratings Services raised its
corporate credit rating on Miami, Fla.-based Spanish Broadcasting
System Inc. to 'B-' from 'CCC+', based on continued improvement in
the company's liquidity position.  The rating outlook is stable.
"The rating action reflects S&P's expectation that, despite very
high leverage, SBS will have adequate liquidity over the
intermediate term to meet debt maturities, potential swap
settlements, and operating needs until its term loan matures on
June 11, 2012," said Standard & Poor's credit analyst Michael
Altberg.


SPORTS AUTHORITY: Moody's Cuts CFR to Caa3 on Interest Non-Payment
------------------------------------------------------------------
Moody's Investors Service downgraded The Sports Authority Inc.'s
("Sports Authority") Corporate Family Rating ("CFR") and $300
million secured term loan due 2017 rating to Caa3 from Caa1 due to
the company's announcement that it elected to not make the
approximately $21 million subordinated notes interest payment that
was due January 15, 2016. The ratings outlook is negative.

Per the terms of the note agreement, Sports Authority has a thirty
day grace period to make the missed interest payment before it
triggers an event of default. If the notes payment is not made
within the 30 day cure period, Moody's will likely consider the
event a limited default.

The following ratings were downgraded:

-- Corporate Family Rating to Caa3 from Caa1;

-- Probability of Default Rating to Caa3-PD from Caa1-PD;

-- $300 million senior secured term loan B due 2017 to Caa3 (LGD
    3) from Caa1 (LGD 3)

-- Outlook to negative from stable

RATINGS RATIONALE

Sports Authority's Caa3 CFR reflects the high likelihood of default
due to the missed interest payment. The company is engaged in
discussions with its lenders regarding ways to address debt
maturities beginning in May 2017 as well as improving its capital
structure, which Moody's believes is unsustainable at current weak
levels of operating performance. The company's leverage is very
high and interest coverage is weak, at around 7.0x and less than
1.0x, respectively. Sports Authority's operating performance has
been inconsistent over the past several years due to weak
execution, adverse weather, high promotional activity and
competitive pressure, and a challenged consumer. Despite recent
efforts to implement an operational improvement plan, sales have
once again turned negative due to store closures and weak
comparable store sales, while EBITDA margins have been pressured by
expense deleveraging, lower merchandise margins and higher shipping
costs related to growing e-commerce sales.

Sports Authority's liquidity is weak, reflecting the need to
address debt maturities that begin in May 2017. Also, if an
acceleration of the subordinated debt occurs due to an event of
default, the company would likely be unable to repay debt at par.

The negative outlook reflects Moody's view that there is a high
probability of default that could arise from a missed interest
payment past the contracted grace period in its subordinated loan
agreement, as well as Moody's view that the company may have
difficulty refinancing its debt without restructuring or impairment
to lenders.

Sports Authority's ratings could be downgraded if liquidity
deteriorates further or its probability of default increases. The
ratings are unlikely to be upgraded without successfully extending
its debt maturity profile and reducing debt to more sustainable
levels.

The Sports Authority, Inc. is a full-line sporting goods retailer
operating 470 stores in 41 states and Puerto Rico. Revenues
exceeded $2.6 billion for the twelve months ended October 31, 2015.
The company is owned by private equity firm Leonard Green &
Partners, L.P.



TENET HEALTHCARE: Adds Two New Independent Directors
----------------------------------------------------
The board of directors of Tenet Healthcare Corporation has
appointed Randolph C. Simpson and Matthew J. Ripperger, partners
and co-heads of healthcare for Glenview Capital Management, as new
independent directors effective Jan. 19, 2016.  Both new directors
will be included in the Company's slate of nominees for election to
the board at Tenet's 2016 Annual Meeting of Shareholders.

"We are pleased to add the expertise of Mr. Simpson and Mr.
Ripperger to our board as we work to create long-term value for all
of our shareholders," said Trevor Fetter, chairman and CEO of
Tenet.  "Glenview has been a substantial investor in our company
for nearly four years and we have appreciated their collaborative
approach and constructive input.  We look forward to the insights
and contributions that Randy and Matt will bring to the board."

Prior to joining Glenview in 2005, Mr. Simpson was an equity
research analyst at Goldman Sachs and previously worked in the
mergers and acquisitions group at Credit Suisse First Boston.  He
holds an MBA in finance and accounting from the University of
Chicago and a JD from the Georgetown University Law Center.  Mr.
Ripperger joined Glenview in 2008 after serving as a managing
director at Citigroup focused on healthcare facilities and
providers.  Previously, Mr. Ripperger was a vice president at J.P.
Morgan, where he researched small and mid-cap healthcare service
companies.  He earned his BA from Columbia University.

"Glenview believes in investing both our financial capital and our
human capital in strong businesses competing in vital industries,
with attractive cash flow dynamics and long-term growth prospects,"
said Larry Robbins, founder and CEO of Glenview.  "As a four-year
shareholder of Tenet and as its largest investor, we felt a
responsibility to join together with all current board members of
Tenet to ensure that Tenet's extraordinary efforts in building a
network of facilities that bring quality and cost containment to
today's healthcare system both perpetuates and translates into
driving extraordinary shareholder value for all of Tenet's owners.
We appreciate Tenet welcoming two of Glenview's partners to the
board and look forward to commencing their deep and active
engagement."

In conjunction with the appointments, Tenet and Glenview have
entered into an agreement that extends through the completion of
the Company's 2017 annual meeting of shareholders.  The agreement
includes the option for Glenview to propose two additional
candidates, independent of both Tenet and Glenview and subject to
the approval of Tenet's board, for appointment as directors.  These
appointments, if made, would be effective Jan. 31, 2017.

Tenet's board now consists of 12 directors, with 11 directors who
are independent of Tenet.  The members of the board include: Tenet
chairman and CEO Trevor Fetter; lead independent director Edward A.
Kangas, former chairman and CEO of Deloitte Touche Tohmatsu; Brenda
J. Gaines, former president and CEO of Diners Club North America;
Karen M. Garrison, former president of Pitney Bowes Business
Services; J. Robert Kerrey, managing director of Allen & Company
and former United States Senator; Freda C. Lewis-Hall, M.D.,
executive vice president and chief medical officer of Pfizer Inc.;
Richard R. Pettingill, former president and CEO of Allina Hospitals
and Clinics; Matthew J. Ripperger, partner and co-head of
healthcare of Glenview Capital Management; Ronald A. Rittenmeyer,
former chairman, president and CEO of Electronic Data Systems
Corporation; Tammy Romo, executive vice president and chief
financial officer of Southwest Airlines Co.; Randolph C. Simpson,
partner and co-head of healthcare of Glenview Capital Management;
and James A. Unruh, former chairman, president and CEO of Unisys
Corporation.

                            About Tenet

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

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

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

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

                         *    *    *

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


TENET HEALTHCARE: Glenview Reports 17.9% Stake as of Jan. 7
-----------------------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Glenview Capital Management, LLC and Lawrence M.
Robbins disclosed that as of Jan. 7, 2016, they beneficially own
17,890,230 shares of common stock of Tenet Healthcare representing
17.95 percent of the shares outstanding.  A copy of the regulatory
filing is available for free at http://is.gd/71oTod

                            About Tenet

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

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

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

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

                         *    *    *

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


TIMOTHY PLACE: Asks Court to Approve Disclosure Statement
---------------------------------------------------------
Timothy Place, NFP and Christian Healthcare Foundation, NFP ask the
Bankruptcy Court to approve a disclosure statement describing their
Plan of Reorganization as containing "adequate information".

Pursuant to a term sheet dated Jan. 11, 2016, and a plan support
agreement, an ad hoc group of holders of the Debtors' currently
outstanding bonds have agreed to exchange their Series 2010 Bonds
for new Series 2016 Bonds.  Because the Debtors have not obtained
100% consent to the exchange, the Plan Support Agreement
contemplates filing of these bankruptcy cases, along with the
Debtors' Chapter 11 plan.

The Debtors asssert that the Disclosure Statement complies with all
aspects of Section 1125 of the Bankruptcy Code because it contains
information to permit a hypothetical creditor to make an informed
judgment about the Plan.

The Debtors propose the following timeline:

   Date                              Event
   ----                              -----
   February 23, 2016         Voting Record Date


   February 24, 2016         Solicitation Mailing Deadline and
                             Publication Notice Deadline


   March 25, 2016            Voting Deadline and Deadline to File
                             Objections to Plan Confirmation


   March 28, 2016            Hearing on Confirmation of the
                             Debtors' Plan

The Debtors have also requested to schedule a hearing on the
Disclosure Statement for Feb. 23, 2016, a deadline to file any
objection to the Disclosure Statement to be Feb. 19, 2016, and the
deadline to file any responses to any objections filed to be
Feb. 22, 2016.

                        About Timothy Place

Headquartered in Elmhurst, Illinois, Timothy Place, NFP and
Christian Healthcare Foundation, NFP own and operate Park Place
Christian Community of Elmhurst, a continuing care retirement
community which provides its residents with independent living
units, enriched housing, memory support services, comprehensive
licensed skilled nursing care, and related health, social, and
quality of life programs and services.

The Debtors filed  Chapter 11 bankruptcy petitions (Bankr. N.D.
Ill. Case Nos. 16-01336 and 16-01337, respectively) on Jan. 17,
2016.  The petitions were signed by William DeYoung as chief
financial officer.  The Debtors estimated both assets and
liabilities in the range of $100 million to $500 million.  Judge
Jacqueline P. Cox has been assigned the case.

The Debtors have engaged McDonald Hopkins LLC as counsel, North
Shores Consulting, Inc., as financial advisor and Globic Advisors
as claims and noticing agent.


TIMOTHY PLACE: Files Plan; To Pay Unsecured Creditors in Full
-------------------------------------------------------------
Timothy Place, NFP and Christian Healthcare Foundation, NFP filed
with the U.S. Bankruptcy Court for the Eastern District of Illinois
their Plan of Reorganization together with a Disclosure Statement
describing the Plan.

The Plan is the result of negotiations by and among the Debtors,
the 2010 Bond Trustee, and an ad hoc group of holders of the
Debtors' currently outstanding bonds.  The Plan provides for the
payment and full satisfaction of all Allowed Administrative Claims,
Allowed Priority Tax Claims, Allowed U.S. Trustee Fees, Allowed
Other Priority Claims, Allowed Other Secured Claims, and Allowed
General Unsecured Claims against the Debtors.  Unsecured Creditors
hold an estimated $100,000 total claim.

Ownership of the Debtors will not change under the Plan.

All Resident obligations will be honored under the Plan, including
by assumption of related residency agreements and refund of any
reservation or entrance fees under the residency agreements.

The Plan provides that the holders of Allowed Series 2010A Bond
Claims, Series 2010B Bond Claims, Series 2010C Bond Claims, Series
2010D-1 Bond Claims, and Series 2010D-2 Bond Claims, in full and
final satisfaction and discharge of and in exchange for such
Allowed Claims, will receive their pro rata share of certain Series
2016 Bonds and payment in Cash on account of accrued and unpaid
prepetition interest.

Class 2 (Series 2010A/B/C Bond Claims) and Class 3 (Series 2010D
Bond Claims) are impaired under the Plan and, accordingly, are
entitled to vote on the Plan.

Class 2 consists of all Series 2010A/B/C Bond Claims and includes
all Claims of the holders of (i) the Series 2010A Bonds, which
Claims will be deemed Allowed pursuant to the Plan in the aggregate
principal amount of $109,115,000, plus accrued and unpaid interest
as of the Petition Date in the amount of $1,531,614, plus accrued
and unpaid interest from the Petition Date through and including
the Effective Date in the approximate amount of $1,828,055; (ii)
the Series 2010B Bonds, which Claims will be deemed Allowed
pursuant to the Plan in the aggregate principal amount of
$7,875,000, plus accrued and unpaid interest as of the Petition
Date in the amount of $105,109, plus accrued and unpaid interest
from the Petition Date through and including the Effective Date in
the amount of $125,453; and (iii) the Series 2010C Bonds, which
Claims will be deemed Allowed pursuant to the Plan in the aggregate
principal amount of $5,000,000, plus accrued and unpaid interest as
of the Petition Date in the amount of $64,583, plus accrued and
unpaid interest from the Petition Date through and including the
Effective Date in the amount of $77,083. Upon the terms and subject
to the conditions set forth in the Plan, on the Effective Date, in
full and final satisfaction and discharge of and in exchange for
each Allowed Series 2010A/B/C Bond Claim:

  * Each holder of an outstanding Series 2010A Bond, outstanding
    Series 2010B Bond, or outstanding Series 2010C Bond shall
    exchange the then outstanding Series 2010A Bond, Series 2010B
    Bond, or Series 2010C Bond for (i) its pro rata share of
    Series 2016A Bonds in the aggregate principal amount of   
    $103,691,500; and (ii) its pro rata share (together with
    holders of the Series 2010D Bonds) of certain of the Series
    2016C Bonds in the aggregate principal amount of $21,918,750.

  * Each holder of an outstanding Series 2010A Bond, outstanding
    Series 2010B Bond, or outstanding Series 2010C Bond will also
    receive payment in full in Cash on account of its allocable
    share of accrued and unpaid interest on the Series 2010A
    Bonds, Series 2010B Bonds, or Series 2010C Bonds as
    applicable, through the date immediately preceding the
    Effective Date, which payment shall be made as of the
    Distribution Date.

Class 3 consists of all Series 2010D Bond Claims and includes all
Claims of the holders of the Series 2010D Bonds, which will be
deemed Allowed pursuant to the Plan in the aggregate principal
amount of $24,135,000, plus accrued and unpaid interest as of the
Petition Date in the amount of $295,384, plus accrued and unpaid
interest from the Petition Date through and including the
Effective Date in the amount of $352,556.  Upon the terms and
subject to the conditions set forth in the Plan, on the Effective
Date, in full and final satisfaction and discharge of and in
exchange for each Allowed Series 2010D Bond Claim:

* Each holder of an outstanding Series 2010D Bond shall exchange
   the then outstanding Series 2010D Bond for: (i) its pro rata
   share of certain Series 2016B Bonds in the aggregate principal
   amount of $20,514,750; and (ii) its pro rata share (together
   with holders of the Series 2010A Bonds, Series 2010B Bonds and
   Series 2010C Bonds) of certain of the Series 2016C Bonds in the

   aggregate principal amount of $21,918,750.

* Each holder of an outstanding Series 2010D Bond shall also
   receive payment in full in Cash on account of its allocable
   share of accrued and unpaid interest on the Series 2010D Bonds
   through the date immediately preceding the Effective Date,
   which payment shall be made as of the Distribution Date.

A copy of the Plan is available for free at:

          http://bankrupt.com/misc/8_TIMOTHY_Plan.pdf

                       About Timothy Place

Headquartered in Elmhurst, Illinois, Timothy Place, NFP and
Christian Healthcare Foundation, NFP own and operate Park Place
Christian Community of Elmhurst, a continuing care retirement
community which provides its residents with independent living
units, enriched housing, memory support services, comprehensive
licensed skilled nursing care, and related health, social, and
quality of life programs and services.

The Debtors filed  Chapter 11 bankruptcy petitions (Bankr. N.D.
Ill. Case Nos. 16-01336 and 16-01337, respectively) on Jan. 17,
2016.  The petitions were signed by William DeYoung as chief
financial officer.  The Debtors estimated both assets and
liabilities in the range of $100 million to $500 million.  Judge
Jacqueline P. Cox has been assigned the case.

The Debtors have engaged McDonald Hopkins LLC as counsel, North
Shores Consulting, Inc., as financial advisor and Globic Advisors
as claims and noticing agent.


TIMOTHY PLACE: Hires McDonald Hopkins as Counsel
------------------------------------------------
Timothy Place, NFP and Christian Healthcare Foundation, NFP seek
authority from the Bankruptcy Court to employ McDonald Hopkins LLC
as their counsel.

McDonald Hopkins will, among other things: (a) file and monitor the
Debtors' Chapter 11 cases and legal activities and advise the
Debtors on the legal ramifications of certain actions; (b) advise
the Debtors of their obligations and duties in bankruptcy; (c)
execute the Debtors' decisions by filing with the Court motions,
objections, and other relevant documents; (d) appear before the
Court on all matters in these Chapter 11 cases relevant to the
interests of the Debtors; (e) assist the Debtors in the
administration of the Chapter 11 cases; and (f) take such other
actions as are necessary to protect the rights of the Debtors'
estates.

The Debtors intend to pay McDonald Hopkins based on its current
hourly rates as follows:

        Title                            Hourly Rate
        -----                            -----------
        Members                           $365-$750
        Of Counsel                        $310-$725
        Associates                        $210-$410
        Paralegals                        $180-$275
        Law Clerks                        $40-$150

The attorneys currently expected to have primary responsibility for
providing business restructuring services to the Debtors are as
follows:

        Shawn M. Riley
       (Member - Business Restructuring and
        Bankruptcy Department)                $695/hour

        David A. Agay
       (Member - Business Restructuring and
        Bankruptcy Department)                $545/hour

        Joshua A. Gadharf
       (Associate - Business Restructuring
        and Bankruptcy Department)            $345/hour

        Manju Gupta
       (Associate - Litigation Department)    $330/hour

The Debtors have agreed to reimburse McDonald Hopkins for its
expenses including, among other things, telephone and facsimile
toll charges, photocopying charges, travel expenses, expenses for
"working meals" and computerized research, as well as non-ordinary
overhead expenses, such as secretarial overtime.

Prior to the Petition Date, McDonald Hopkins received $388,731 in
retainer amounts from the Debtors for services performed or to be
performed in contemplation of the Debtors' Chapter 11 cases.   As
of the Petition Date, McDonald Hopkins applied all amounts received
against fees and expenses incurred by McDonald Hopkins prior to the
Petition Date and does not hold any additional
retainer.

McDonald Hopkins represents it is a "disinterested person," as that
phrase is defined in Section 101(14) of the Bankruptcy Code, as
modified by Section 1107(b) of the Bankruptcy Code, and does not
hold or represent an interest adverse to the Debtors.

                        About Timothy Place

Headquartered in Elmhurst, Illinois, Timothy Place, NFP and
Christian Healthcare Foundation, NFP own and operate Park Place
Christian Community of Elmhurst, a continuing care retirement
community which provides its residents with independent living
units, enriched housing, memory support services, comprehensive
licensed skilled nursing care, and related health, social, and
quality of life programs and services.

The Debtors filed  Chapter 11 bankruptcy petitions (Bankr. N.D.
Ill. Case Nos. 16-01336 and 16-01337, respectively) on Jan. 17,
2016.  The petitions were signed by William DeYoung as chief
financial officer.  The Debtors estimated both assets and
liabilities in the range of $100 million to $500 million.  Judge
Jacqueline P. Cox has been assigned the case.

The Debtors have engaged McDonald Hopkins LLC as counsel, North
Shores Consulting, Inc., as financial advisor and Globic Advisors
as claims and noticing agent.


TIMOTHY PLACE: Joint Administration of Cases Sought
---------------------------------------------------
Timothy Place, NFP and Christian Healthcare Foundation, NFP ask the
Bankruptcy Court to enter an order directing the joint
administration of their Chapter 11 cases under Lead Case No.
16-01336.

The Debtors tell the Court that given the integrated nature of
their operations, joint administration will reduce fees and costs
by avoiding duplicable filings and objections.  According to the
Debtors, joint administration will also allow the Office of the
United States Trustee for the Northern District of Illinois, the
Court, and all parties-in-interest to monitor these Chapter 11
cases with greater ease and efficiency.

The Debtors maintain that the joint administration will not
adversely affect their respective constituencies because the motion
requests only administrative, not substantive, consolidation of the
estates.

                      About Timothy Place

Headquartered in Elmhurst, Illinois, Timothy Place, NFP and
Christian Healthcare Foundation, NFP own and operate Park Place
Christian Community of Elmhurst, a continuing care retirement
community which provides its residents with independent living
units, enriched housing, memory support services, comprehensive
licensed skilled nursing care, and related health, social, and
quality of life programs and services.

The Debtors filed  Chapter 11 bankruptcy petitions (Bankr. N.D.
Ill. Case Nos. 16-01336 and 16-01337, respectively) on Jan. 17,
2016.  The petitions were signed by William DeYoung as chief
financial officer.  The Debtors estimated both assets and
liabilities in the range of $100 million to $500 million.  Judge
Jacqueline P. Cox has been assigned the case.

The Debtors have engaged McDonald Hopkins LLC as counsel, North
Shores Consulting, Inc., as financial advisor and Globic Advisors
as claims and noticing agent.


TIMOTHY PLACE: Proposes North Shores as Financial Advisor
---------------------------------------------------------
Timothy Place, NFP and Christian Healthcare Foundation, NFP seek
permission from the Bankruptcy Court to employ North Shores
Consulting, Inc. as their financial advisor nunc pro tunc to Jan.
17, 2016.

Prior to the Petition Date, North Shores assisted in negotiating
the Plan Support Agreement, which implements the Debtors'
restructuring, and became familiar with the Debtors' business
affairs and many of the potential financial and economic issues
that may arise in connection with these Chapter 11 cases.

North Shores has agreed to:

   (a) assist in the development of a cash receipts and
       disbursements budget for the Debtors throughout the
       bankruptcy proceeding;

   (b) assist in dealing with the operating impact of the
       bankruptcy including communication with creditors,
       patients, vendors, and employees;

   (c) assist in negotiations with various creditor constituents
       regarding the Plan;

   (d) negotiate and review any agreements relating to the use of
       cash collateral;

   (e) advise the Debtors of their powers and duties as debtors-
       in-possession in the continued operation of their business
       and properties;

   (f) utilize employees and resources of North Shores in
       assisting in managing and developing the Debtors' finances;

   (g) assist in the implementation of reporting systems to
       collect the financial information required to be submitted
       on a periodic basis to the Bankruptcy Court;

   (h) assist in preparation of schedules, statements of financial

       affairs, and monthly operating reports;

   (i) advise and direct the Debtors in connection with the
       bankruptcy process; and

   (j) participate with the Debtors in preparing necessary
       documents, including compliance documents required in
       connection with any use of cash collateral.

As of the Petition Date, North Shores has no accrued or
unpaid fees or expenses owing by the Debtors.  Since retaining
North Shores, the Debtors paid North Shores an aggregate amount of
$185,678 in fees for its prepetition services and reimbursement for
out-of-pocket expenses incurred during such period.

Thomas L. Brod is currently the employee of North Shores that is
expected to serve the Debtors during the pendency of the Chapter 11
cases.  His standard hourly rate is $375.

The Debtors have agreed to reimburse North Shores for all expenses
incurred in connection with their case including, among other
things, telephone and facsimile toll charges, photocopying charges,
travel expenses, and expenses for "working meals," as well as
non-ordinary overhead expenses, such as secretarial overtime.

North Shores represents it is a "disinterested person," as that
phrase is defined in Section 101(14) of the Bankruptcy Code, as
modified by Section 1107(b) of the Bankruptcy Code, and does not
hold or represent an interest adverse to the Debtors.

                      About Timothy Place

Headquartered in Elmhurst, Illinois, Timothy Place, NFP and
Christian Healthcare Foundation, NFP own and operate Park Place
Christian Community of Elmhurst, a continuing care retirement
community which provides its residents with independent living
units, enriched housing, memory support services, comprehensive
licensed skilled nursing care, and related health, social, and
quality of life programs and services.

The Debtors filed  Chapter 11 bankruptcy petitions (Bankr. N.D.
Ill. Case Nos. 16-01336 and 16-01337, respectively) on Jan. 17,
2016.  The petitions were signed by William DeYoung as chief
financial officer.  The Debtors estimated both assets and
liabilities in the range of $100 million to $500 million.  Judge
Jacqueline P. Cox has been assigned the case.

The Debtors have engaged McDonald Hopkins LLC as counsel, North
Shores Consulting, Inc., as financial advisor and Globic Advisors
as claims and noticing agent.


TIMOTHY PLACE: Says Patient Care Ombudsman Not Necessary
--------------------------------------------------------
Timothy Place, NFP and Christian Healthcare Foundation, NFP seek
entry of an order (a) determining that appointment of a patient
care ombudsman is not required at this time, and (b) allowing them
to self-report information relating to the state of resident care
at Park Place Christian Community of Elmhurst to the Office of the
United States Trustee for the Northern District of Illinois, the
Illinois Department of Public Health, and any Park Place residents
or family members of Residents who specifically request a copy of
such information.

"In light of the Debtors' exemplary historical Resident care
record, extensive internal quality management procedures, as well
as oversight from numerous government agencies, the appointment of
an ombudsman would replicate the Debtors' existing Resident care
quality management procedures at substantial cost without
increasing the quality of care for the Residents," said David A.
Agay, Esq., at McDonald Hopkins LLC, counsel to the Debtors.
"Furthermore, because these are prenegotiated chapter 11 cases that
are expected to have a relatively short duration in chapter 11, the
Debtors submit that any cost of an ombudsman will outweigh its
benefits."

The Debtors maintained they have extensive internal policies and
procedures to monitor the quality of patient care.  Among other
policies, Park Place has implemented the following polices: (a)
Abuse Identification, (b) Abuse Reporting and Investigation, (c)
Determining Direct Care Staffing, (d) Nursing Home Fraud, Abuse,
and Neglect Prevention and Reporting, (e) Resident Rights and
Responsibilities, (f) Staff Call Response, (g) Client Rights/
Responsibilities, (h) Client/Family Concern Program, and (i) Staff
Competency.

                       About Timothy Place

Headquartered in Elmhurst, Illinois, Timothy Place, NFP and
Christian Healthcare Foundation, NFP own and operate Park Place
Christian Community of Elmhurst, a continuing care retirement
community which provides its residents with independent living
units, enriched housing, memory support services, comprehensive
licensed skilled nursing care, and related health, social, and
quality of life programs and services.

The Debtors filed  Chapter 11 bankruptcy petitions (Bankr. N.D.
Ill. Case Nos. 16-01336 and 16-01337, respectively) on Jan. 17,
2016.  The petitions were signed by William DeYoung as chief
financial officer.  The Debtors estimated both assets and
liabilities in the range of $100 million to $500 million.  Judge
Jacqueline P. Cox has been assigned the case.

The Debtors have engaged McDonald Hopkins LLC as counsel, North
Shores Consulting, Inc., as financial advisor and Globic Advisors
as claims and noticing agent.


TIMOTHY PLACE: Taps Globic Advisors as Claims and Noticing Agent
----------------------------------------------------------------
Timothy Place, NFP and Christian Healthcare Foundation, NFP seek
authority from the Bankrupty Court to employ Globic Advisors as
their claims and noticing agent nunc pro tunc to Jan. 17, 2016.

The fees to be charged by Globic in connection with these Chapter
11 cases are as follows:

      Service                                  Fee
      -------                              ----------------------
   Bondholder Solicitation Services        $10,000

   Noticing Agent Services                 $2.00 per creditor
                                           initial set-up fee

                                           $100 per noticing event

   Claims Agent                            $500 set-up

                                           $2.00 per creditor
                                           response

The Debtors request that the fees and expenses incurred by Globic
in the performance of the services be treated as administrative
expenses and be paid in the ordinary course of business without
further application to or order of the Court.

Globic agrees to maintain records of all services showing dates,
categories of services, fees charged, and expenses incurred, and to
serve monthly invoices on the Debtors, the office of the U.S.
Trustee, counsel to the Debtors, and any party-in-interest who
specifically requests service of the monthly invoices.

Globic represents it is a "disinterested person" as that term is
defined in Section 101(14) of the Bankruptcy Code with respect to
the matters upon which it is to be engaged.

                        About Timothy Place

Headquartered in Elmhurst, Illinois, Timothy Place, NFP and
Christian Healthcare Foundation, NFP own and operate Park Place
Christian Community of Elmhurst, a continuing care retirement
community which provides its residents with independent living
units, enriched housing, memory support services, comprehensive
licensed skilled nursing care, and related health, social, and
quality of life programs and services.

The Debtors filed  Chapter 11 bankruptcy petitions (Bankr. N.D.
Ill. Case Nos. 16-01336 and 16-01337, respectively) on Jan. 17,
2016.  The petitions were signed by William DeYoung as chief
financial officer.  The Debtors estimated both assets and
liabilities in the range of $100 million to $500 million.  Judge
Jacqueline P. Cox has been assigned the case.

The Debtors have engaged McDonald Hopkins LLC as counsel, North
Shores Consulting, Inc., as financial advisor and Globic Advisors
as claims and noticing agent.


TIMOTHY PLACE: Wants to Use UMB Bank's Cash Collateral
------------------------------------------------------
Timothy Place, NFP, et al., seek authority from the Bankruptcy
Court to use all revenues and other income generated by them in the
ordinary course of their business, all accounts receivable, and all
amounts currently held in their operating accounts.  UMB Bank,
N.A., in its capacity as successor trustee for the 2010 Bonds, has
interest in the Cash Collateral.

The Debtors intend to use the Cash Collateral to procure goods and
services from vendors, pay their employees, and satisfy other
working capital needs.

The Debtors have agreed with an ad hoc group of certain of the
holders of the 2010 Bonds and the Bond Trustee regarding the
consensual continued use of Cash Collateral.

The agreed proposed Interim Order provides adequate protection in
the form of replacement liens and superpriority claims against any
diminution in value arising from the Debtors' use of Cash
Collateral or the imposition of the automatic stay pursuant to
Section 362 of the Bankruptcy Code.

"Without access to liquidity, the Debtors' ability to operate and
ultimately to restructure as a going concern will be jeopardized,
all to the detriment of the Debtors' stakeholders," David A. Agay,
Esq., at McDonald Hopkins LLC, counsel to the Debtors, told the
Court.  

                        About Timothy Place

Headquartered in Elmhurst, Illinois, Timothy Place, NFP and
Christian Healthcare Foundation, NFP own and operate Park Place
Christian Community of Elmhurst, a continuing care retirement
community which provides its residents with independent living
units, enriched housing, memory support services, comprehensive
licensed skilled nursing care, and related health, social, and
quality of life programs and services.

The Debtors filed  Chapter 11 bankruptcy petitions (Bankr. N.D.
Ill. Case Nos. 16-01336 and 16-01337, respectively) on Jan. 17,
2016.  The petitions were signed by William DeYoung as chief
financial officer.  The Debtors estimated both assets and
liabilities in the range of $100 million to $500 million.  Judge
Jacqueline P. Cox has been assigned the case.

The Debtors have engaged McDonald Hopkins LLC as counsel, North
Shores Consulting, Inc., as financial advisor and Globic Advisors
as claims and noticing agent.


TRINITY TOWN: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Trinity Town Center LLLP
        9040 Tryfon Boulevard, A-103
        New Port Richey, FL 34655

Case No.: 16-00405

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 20, 2015

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

Debtor's Counsel: James W Elliott, Esq.
                  MCINTYRE THANASIDES BRINGGOLD ELLIOTT, ET AL.
                  501 E Kennedy Blvd, Ste 1900
                  Tampa, FL 33602
                  Tel: 813-899-6059
                  Fax: 813-899-6069
                  Email: james@mcintyrefirm.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $0 to $50,000

The petition was signed by Michael D. Luetgert, chief restructuring
officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Arry's Roofing                                          $83,865
770 N. Grosse Ave.
Tarpon Springs, FL 34689

A Total Solutions                                        Unknown

Bay Area Site Improvement Company                        Unknown

Block Busters                                            Unknown

Burkett Stucco, Inc.                                     Unknown

Capital Development Company                              Unknown

Central Glass & Mirror, Inc.                             Unknown

Coreslab                                                 Unknown

Cornwall Plumbing, LLC                                   Unknown

Dale Hayes Masonry                                       Unknown

Divesified Home Services                                 Unknown

Gravity Systems, Inc.                                    Unknown

Heavenly Air                                             Unknown

Kone                                                     Unknown

Lotspeich Contracting, Inc.                              Unknown

Masonry Builders, Inc.                                   Unknown

Prime Investments                                        Unknown

Savile Opportunity Fund                                  Unknown

Saxon Gilmore Carraway and Gibbon, P.A.                  Unknown

Sunfield Homes, Inc.                                     Unknown


TRUMP ENTERTAINMENT: Taj Mahal Could Reject Labor Deal, 3d Cir Says
-------------------------------------------------------------------
Lawrence E. Dube, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that in the first appellate court ruling on an
important issue in business reorganizations, the U.S. Court of
Appeals for the Third Circuit Jan. 15 ruled that the federal
bankruptcy code permits a Chapter 11 debtor-employer to reject or
modify labor obligations established in a collective bargaining
agreement even after the agreement has expired.

According to the report, the ruling will give Chapter 11 debtors
more leeway to seek court relief from post-contract labor
obligations that unions refuse to compromise over.  It may also
make bankruptcy filings more attractive to distressed companies
that are seeking to reduce the costs of employing union-represented
workers, the report related.

The appeals court affirmed a bankruptcy court's order under Section
1113 of the Bankruptcy Code that permitted casino owner Trump
Entertainment Resorts Inc. to reject an expired contract with UNITE
HERE Local 54, which represents about a third of the casino's
3,000-employee workforce, the report said.

                 About Trump Entertainment Resorts

Trump Entertainment Resorts Inc., owns two Atlantic City Boardwalk
casinos that bear the name of Donald Trump.

The predecessor, Trump Hotels & Casino Resorts, Inc., first filed
for Chapter 11 protection on Nov. 21, 2004 (Bankr. D.N.J. Case No.
04-46898 through 04-46925) and exited bankruptcy in May 2005 under
the name Trump Entertainment Resorts Inc.  Trump Entertainment
Resorts sought Chapter 11 protection on Feb. 17, 2009 (Bankr.
D.N.J. Lead Case No. 09-13654) and exited bankruptcy in 2010.

Trump Entertainment Resorts Inc. returned to Chapter 11 bankruptcy
(Bankr. D. Del. Case No. 14-12103) on Sept. 9, 2014, with plans to
shutter its casinos.

The Debtors have sought an order authorizing the joint
administration of their Chapter 11 cases and the consolidation
thereof for procedural purposes only.  Judge Kevin Gross presides
over the Chapter 11 cases.

The Debtors have tapped Young, Conaway, Stargatt & Taylor, LLP, as
counsel; Stroock & Stroock & Lavan LLP, as co-counsel; Houlihan
Lokey Capital, Inc., as financial advisor; and Prime Clerk LLC, as
noticing and claims agent.

TER estimated $100 million to $500 million in assets as of the
bankruptcy filing.

The Debtors as of Sept. 9, 2014, owe $285.6 million in principal
plus accrued but unpaid interest of $6.6 million under a first lien
debt issued under their 2010 bankruptcy-exit plan.  The Debtors
also have trade debt in the amount of $13.5 million.

                         *     *     *

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on March 12, 2015, confirmed Trump Entertainment Resorts,
Inc., et al.'s Third Amended Joint Plan of Reorganization and
Disclosure Statement pursuant to Section 1129 of the Bankruptcy
Code.

The Debtors filed on January 5, 2015, the Plan and accompanying
Disclosure Statement to, among other things, provide that holders
of General Unsecured Claims will receive Distribution Trust
Interests, which will include $1 million in cash and the proceeds,
if any, of certain avoidance actions.  Under the revised plan,
holders of general unsecured claims are estimated to recover 0.47%
to 0.43% of their total allowed claim amount.  The Amended Plan
also includes language reflecting the recently-approved $20
million loan from Carl Icahn.

The Effective Date of the Plan has not yet occurred, as certain
conditions precedent to  the occurrence of the Effective Date,
including the CBA Order having become a Final Order, have not yet
been met.


UPPER MIDWEST: Suit Against DJK Stayed
--------------------------------------
In a diversity suit, Debtor Upper Midwest Sealcoat Manufacturing
alleges that Defendants DJK Real Estate Group and DJK Real Estate
Group-Burr Ridge violated the terms of a commercial real estate
lease by allowing Westfield Insurance Company, the Defendants'
insurer, to sue Upper Midwest in the Circuit Court of DuPage
County, Illinois, for damages arising from its use of the leased
property.

The Defendants have moved to dismiss or, in the alternative, to
abstain under the doctrine set forth in Colorado River Water
Conservation District v. United States, 424 U.S. 800 (1976),
pending the resolution of the state court suit, Westfield Insurance
Company as subrogee of DJK Real Estate Group, LLC v. Upper Midwest
Sealcoat Manufacturing, LLC, 2014 L 929.

After the motion was fully briefed, Upper Midwest informed the
court that a bankruptcy trustee had been appointed in its pending
Chapter 11 bankruptcy case.  Michael Knight, the trustee,
petitioned to be substituted as plaintiff and the court granted the
petition.

In a Memorandum Opinion and Order dated December 28, 2015, which is
available at http://is.gd/es28p6from Leagle.com, Judge Gary
Feinerman of the United States District Court for the Northern
District of Illinois, Eastern Division, denied the Defendants'
motion to dismiss but granted its motion to stay under the Colorado
River doctrine.

Accordingly, the case is stayed pending resolution of Westfield
Insurance Company as subrogee of DJK Real Estate Group, LLC v.
Upper Midwest Sealcoat Manufacturing, LLC, 2014 L 929 (Cir. Ct.
DuPage Cnty., Ill. filed Aug. 28, 2014).

The case is MICHAEL KNIGHT, as Chapter 11 Trustee for Upper Midwest
Sealcoat Manufacturing, LLC, Plaintiff, v. DJK REAL ESTATE GROUP,
LLC and DJK REAL ESTATE GROUP-BURR RIDGE, LLC, Defendants, No. 15 C
5960 (N.D. Ill.).

Michael Knight, Plaintiff, is represented by Laura Paige Gordon,
Esq. -- lgordon@cyp-law.com -- Chilton Yambert & Porter LLP &
Steven M. Canty, Esq. -- scanty@cyp-law.com -- Chilton Yambert &
Porter LLP.

DJK Real Estate Group, LLC d/b/a DJK Real Estate Investments, LLC,
Defendant, is represented by Bozidar Robert Ostojic, Esq. --
Bozidar Robert Ostojic, Esq. -- ro@lefltd.com -- Leahy, Eisenberg &
Fraenkel.

Upper Midwest Sealcoat Manufacturing, LLC (Bankr. D. Minn., Case
No. 15-42363) sought protection under Chapter 11 of the Bankruptcy
Code on July 1, 2015.  The Debtor is represented by Michael F
McGrath, Esq., at Ravich Meyer Kirkman & McGrath Nauman.


UTSTARCOM HOLDINGS: Gu Guoping Owns 11.7MM Ordinary Shares
----------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Gu Guoping, Shanghai Phicomm Communication Co., Ltd.,
Phicomm Technology (Hong Kong) Co., Limited and The Smart Soho
International Limited disclosed that as of Jan. 8, 2016, they
beneficially own 11,739,932 ordinary Shares, par value US$0.00375
per share, of UTStarcom Holdings Corp., representing 31.7 percent
of the shares outstanding.  A copy of the regulatory filing is
available for free at http://is.gd/rUf0nr

                        About UTStarcom, Inc.

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

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

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


VERITEQ CORP: Adds Two New Members to Board of Directors
--------------------------------------------------------
In accordance with VeriTeQ Corporation's by-laws, Mr. Michael James
and Dr. Ken Shapiro were appointed as members of the Company's
Board of Directors.

Mr. James, age 57, has been chief financial officer Terra Tech
Corp., since April 2011.  Previously, Mr. James served as chief
executive officer of Nestor, Inc. where he successfully completed a
financial restructuring of Nestor prior to its sale in September
2009 from the Receiver's Estate in Superior Court of the State of
Rhode Island.  He also served on Nestor's Board of Directors from
2006 to 2009.  Mr. James has been the managing partner of Kuekenhof
Capital Management, LLC, a private investment management company,
for the past ten years where he continues to serve as managing
director of Kuekenhof Equity Fund, L.P. and Kuekenhof Partners.
Mr. James is also a director of Guided Therapeutics, Inc. where he
serves as chairman of the Compensation Committee and as a member of
the Audit Committee.  Mr. James holds a Bachelor of Science Degree
in Accounting from Fairleigh Dickinson University.

Dr. Shapiro, age 59, is currently medical director of The Brace
Shop, LLC, an online retailer of orthopedic braces and related
medical devices, which he founded in 1995.  Prior to founding The
Brace Shop, Dr. Shapiro was a licensed podiatrist for more than 20
years.  He holds a Bachelor of Science Degree from the University
of Western Ontario and a D.P.M. Degree from the Temple School of
Podiatric Medicine.

At this time there has been no agreement as to cash or equity
compensation that will be received by Dr. Shapiro and Mr. James in
connection with their serving on the Company's Board of Directors,
and it has not been determined which committees of the Board of
Directors, if any, that they will serve upon.

                       About VeriTeQ

VeriTeQ (formerly known as Digital Angel Corporation) develops
innovative, proprietary RFID technologies for implantable medical
device identification, and dosimeter technologies for use in
radiation therapy treatment.  VeriTeQ --
http://www.veriteqcorp.com/-- offers the world's first FDA      
cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of
care.  VeriTeQ's dosimeters provide patient safety mechanisms
while measuring and recording the dose of radiation delivered to a
patient in real time.

Veriteq reported a net loss of $3.91 million on $151,000 of sales
for the year ended Dec. 31, 2014, compared to a net loss of $18.2
million on $18,000 of sales for the year ended Dec. 31, 2013.

As of June 30, 2015, the Company had $1.19 million in total assets,
$12.8 million in total liabilities, $1.84 million in series D
preferred stock and a stockholders' deficit of $13.5 million.

EisnerAmper LLP, in New York, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2014, citing that the Company has incurred
recurring net losses, and at Dec. 31, 2014, had negative working
capital and a stockholders' deficit.  These events and conditions
raise substantial doubt about the Company's ability to continue as
a going concern.


VERSO CORP: Expected Ch. 11 Filing to Propel Default Rate to 3.7%
-----------------------------------------------------------------
An expected Chapter 11 bankruptcy filing by Verso Corp. would boost
the mid-January trailing 12-month (TTM) high yield bond default
rate to 3.7% from 3.4% at year-end 2015, according to Fitch
Ratings.  A filing would affect approximately $2.7 billion of total
loan and bond debt.

Verso has a multilevel capital structure, which has become
unsustainable.  The company announced it had elected to exercise
the five-day payment grace period for an interest payment on its
$731 million NewPage Corp. subsidiary term loan on Jan. 14 and the
following day said it would forgo making interest payments on Verso
Paper's 11.75% notes, which have a 30-day grace period.

Verso's bankruptcy filing would be the largest in the
paper/container sector in over four years since NewPage Corp.'s
bankruptcy and would propel the paper/container TTM high yield
default rate to 6.4%, above its long-term average 4.4% mark.  Fitch
does not anticipate widespread paper/container sector defaults.  If
Verso were to default, it would register as one of the largest
recent filings outside of the energy and metals/mining sectors.

Low bid prices on Verso Holding's unsecured bond issues indicate
the market's expectations of weak recoveries on their claims in a
bankruptcy or distressed debt exchange restructuring.  The
unsecured bond issues at the holding company were bid at just over
a penny on the dollar, and the 11.75% senior secured bonds were
offered at pricings ranging from $0.15-$0.18 at the end of
Jan. 22.  The $731 million first lien term loan at NewPage was bid
at $0.36, also indicating well-below-average recovery prospects.

Verso has been struggling from a heavy debt load, weak performance
at some mills and a secular decline in market demand for coated
papers that is pressuring cash flows.  Sales volumes have decreased
for papers used to produce magazines and catalogs in the face of
competition from electronic publishing and imports. Consensual
exchanges completed last year did not sufficiently resolve capital
structure issues.  Verso has been exploring potential debt
restructuring alternatives with a restructuring advisor and holding
creditor discussions to address its cash flow and liquidity
concerns.

This would be the second trip to bankruptcy court for Verso's
NewPage subsidiary, which Verso acquired in January 2015.  As a
stand-alone company, NewPage filed Chapter 11 in September 2011 and
emerged as a privately held company in December 2012.  In that
reorganization, holders of approximately $1.6 billion of first lien
notes converted their notes to new equity and received an
approximately 56.6% recovery in the form of the new stock.  Second
lien debt holders recovered about 6% on their claim in the prior
bankruptcy.



VERSO PAPER: Said Negotiating Bankruptcy Filing This Week
---------------------------------------------------------
Laura J. Keller, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that Verso Corp. is preparing to file for
bankruptcy protection as soon as this week as a grace period on a
missed interest payment nears expiration, according to two people
with knowledge of the matter.

According to the report, the paper maker, which is backed by Apollo
Global Management LLC, missed payments owed to two sets of
creditors earlier this month.  The five-day grace period for
skipping the amount owed to some lenders expires Jan. 22, the
report said.

Verso is seeking approval from the creditors on a bankruptcy plan
that would convert almost all of the company's $2.8 billion of debt
into equity, said the people, who asked not to be identified
discussing the negotiations, the report related.  The proposed
bankruptcy deal calls for fully merging Verso and NewPage Corp.,
the paper company Verso bought last year, and dividing the combined
entity's equity value between two major creditor factions, the
people said, the report further related.

                           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, on Aug. 25, 2015, reported that
Moody's Investors Service says Verso Paper Holdings LLC's (B3,
stable) announcement that it will shut down a pulp dryer and
coated
paper machine and indefinitely idle a paper mill will further
strain the company's already weak liquidity position and adds
further uncertainty in the company's ability to achieve its
synergy
target.  However, the optimization of the remaining capacity at
the
Company's Androscoggin mill in Maine should led to a reduction
incosts with the elimination of fixed charges and high cost
peakpower consumption.

As reported by the TCR on July 3, 2015, Standard & Poor's Ratings
Services said it raised its corporate credit rating on Verso Paper
Holdings LLC and its parent Verso Paper Finance Holdings LLC to
'B-' from 'SD'.

The TCR reported on Jan. 16, 2015, that Moody's Investors Service
upgraded Verso Paper Holdings LLC's corporate family rating (CFR)
to B3 from Caa3 and changed the probability of default rating
(PDR) to B3-PD/LD from Caa3-PD.  Verso's B3 CFR primarily reflects
Moody's expectation that initial proforma leverage of about 9
times can be brought down to mid-6 times through synergy cost
savings and cost improvements following the acquisition of
NewPage,
despite a continuing structural decline in demand for coated paper.


WALTER ENERGY: Court Approves Monthly Payments to Caterpillar
-------------------------------------------------------------
Jim Walter Resources Inc., an affiliate of Walter Energy Inc.,
received court approval for a deal that would allow the company to
pay its lender.

Under the deal, Jim Walter agreed to make a monthly payment of
$95,000 to Caterpillar Financial Services Corp. as "adequate
protection."

The company will also maintain insurance on assets it used as
collateral for the loan.

Caterpillar Financial provided an $18.98 million loan to the
company.  As of July 15, 2015, Jim Walter owed the lender more than
$9.39 million, according to court filings.

                       About Walter Energy

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

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

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

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

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

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

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


WYNN RESORTS: Moody's Cuts Corporate Family Rating to 'Ba2'
-----------------------------------------------------------
Moody's Investors Service downgraded Wynn Resorts, Limited's (WYNN)
Corporate Family Rating to Ba2 from Ba1, and the company's
Probability of Default Rating to Ba2-PD from Ba1-PD. The company's
issue ratings at its three subsidiaries were also lowered
one-notch. The outlook of Wynn Resorts and all three of its primary
operating subsidiaries, Wynn Macau, LLC, Wynn Las Vegas, LLC and
Wynn America, LLC is negative.

Ratings downgraded:

Wynn Resorts Limited Corporate Family Rating, to Ba2 from Ba1

Wynn Resorts Limited Probability of Default Rating, to Ba2-PD from
Ba1-PD

Wynn Las Vegas, LLC $1.8 billion senior notes due 2025, to Ba3
(LGD5) from Ba2 (LGD5)

Wynn Macau Limited, LLC $1.35 billion senior notes due 2021, to Ba3
(LGD5) from Ba2 (LGD5)

Wynn America, LLC $375 million revolver due 2019, to Ba1 (LGD2)
from Baa3 (LGD2)

Wynn America, LLC $875 million delay draw term due 2020, to Ba1
(LGD2) from Baa3 (LGD2)

The downgrade of Wynn's issuer and issue-level ratings reflects
Moody's view that gaming demand challenges in the Macau, China
gaming market -- this market accounts for a majority of Wynn's
consolidated revenue and EBITDA -- will continue and will make it
difficult for the company to reduce its consolidated leverage to
the level needed to maintain a Ba1 Corporate Family Rating. Net of
excess cash (assumes $500 million of cash is reserved for
day-to-day operations), Wynn's consolidated debt/EBITDA was about
6.5 times for the 12-month period ended September 30, 2015.

"Although Wynn's consolidated net debt/EBITDA includes a
substantial amount of debt related to the construction of Wynn
Palace which has not yet opened, we remain concerned that the ramp
up of this property will not occur at a pace and level that will
enable the company to reduce net debt/EBITDA much below 6.0 times
by the end of fiscal 2017, and well above our stated 3.5 times net
debt/EBITDA downgrade trigger," stated Keith Foley, a Senior Vice
President at Moody's.

Wynn Palace is a $4.1 billion resort development scheduled to open
in June 2016 on the Cotai strip area in Macau, China.

RATINGS RATIONALE

Wynn's Ba2 Corporate Family Rating is supported by the company's
low overall cost of debt and resulting good interest coverage
despite significant leverage. The company's consolidated
EBIT/interest was about 2.6 times and EBITDA/interest was about 3.8
times for the 12-month period ended September 30, 2015. Also
considered is Wynn's very good liquidity which is characterized by
a significant cash balance and no near term debt maturities, and
the company's willingness to reduce its cash dividend payments to
accommodate a reduced level of earnings performance.

Key credit concerns include Moody's view that Wynn's
diversification remains limited despite the fact that it is one of
the largest U.S. gaming operators in terms of revenue. The
company's revenues and cash flow are concentrated in the Macau
gaming market which has experienced significant declines in gaming
revenue in the past year and continues to face challenges related
to overall demand conditions and heightened competition resulting
from substantial supply additions, both recent and expected.

Wynn's ratings reflect a consolidated rating approach, whereby
Moody's views all of the operations of Wynn as a single enterprise
for analytic purposes, regardless of whether or not financings for
some subsidiaries are done on a stand-alone basis.

The negative rating outlook reflects Moody's concern that the
opening of Wynn Palace will add to the oversupply conditions that
currently exist in Macau, and at a time where there is already a
high degree of uncertainty regarding overall demand trends in that
market. Wynn's rating could be lowered if it appears the company
will not be able to reduce its net debt/EBITDA below 6.0 times once
Wynn Palace opens.

The rating outlook could be revised to stable if the Macau gaming
market improves in terms of demand trends and it appears likely
that Wynn will be able to significantly reduce leverage prior to
investing in other major development projects, including the
company's $1.6 billion casino project near Boston, MA. A higher
rating would require substantially lower leverage, tangible
evidence that the Macau gaming market can maintain long-term
stability, and/or a more diversified asset profile.

Wynn Resorts, Limited owns 72.3% of Wynn Macau, Limited, which
operates Wynn Macau and Encore at Wynn Macau in the Macau Special
Administrative Region of the People's Republic of China. The
company also owns 100% of Wynn Las Vegas, LLC which operates Wynn
Las Vegas and Encore at Wynn Las Vegas in Las Vegas, Nevada; and
100% of Wynn America, LLC, the entity and debt obligor that owns
the license for the company's Massachusetts casino development.
Consolidated net revenue for the latest 12-month period ended
September 30, 2015 was about $4.3 billion.



XINERGY CORP: Minor Plan Confirmation Objections Filed
------------------------------------------------------
Xinergy LTD., et al., received several responses and objections to
their proposed Chapter 11 plan by the Jan. 20, 2016 deadline for
submitting plan confirmation objections.

The Internal Revenue Service, which filed a proof of claim on
account of tax claims, says the Plan does not adequately provide
for the IRS's priority claim and the Plan fails to provide for
adequate remedies in the event of default by the Debtor.  The IRS
also agrees the Debtor is entitled to a full discharge, limited by
the provisions of 11 U.S.C. Sec. 1141 and various other non-Title
11 statutes but opposes any proposal to expand upon that
discharge.

Sabra Investments, LP, (i) filed an application for payment of its
dministrative expense claim for goods controverted by the Debtors
subsequent to the Petition Date; and (ii) asserts an objection to
the rejection of the Surface Lease pursuant to the Plan and Plan
Supplement.  Prior to the Petition Date, on Dec. 29, 2014, Sabra
and Whitewater Resources, LLC, one of the Debtors, entered into a
Lease Agreement (the "Surface Lease").  Sabra asserts that the
Surface Lease has terminated and, as such, any proposed assumption
or rejection of the Surface Lease is improper.

Lexon Insurance Company and Bond Safeguard Insurance Company seek
minor changes to the proposed order confirming the Plan.
Prepetition Lexon issued various bonds, including reclamation bonds
and permit bonds in the total penal sum of $19,754,633.  LExon
timely filed proofs of claim against the Debtors asserting claims
in an estimated amount of $19,754,633.  Lexon notes that there are
underlying administrative obligations that have been incurred
to-date that must be cured upon confrimation -- specifically,
approximately $85,105 in unpaid premiums and $1,991 in loss
adjustment expenses.  Lexon asserts that the Confirmation Order
should explicitly provide: "On the Effective Date, XInergy shall
pay Lexon $78,096."

ACIN LLC and WPP LLC each filed an objection to the Debtors' notice
of assumption of contracts and the proposed cure amounts.

The IRS is represented by:

          ANTHONY P. GIORNO
          United States Attorney
          Sara Bugbee Winn, VSB #35924
          Assistant United States Attorney
          Kelton Frye
          Western District of Virginia
          Post Office Box 1709
          Roanoke, Virginia 24008-1709
          Telephone: (540) 857-2250
          E-mail: sara.winn@usdoj.gov

Counsel for Sabra Investments, LP:

          Robert S. Westermann (VSB No. 43294)
          Rachel A. Greenleaf (VSB No. 83938)
          HIRSCHLER FLEISCHER, P.C.
          The Edgeworth Building
          2100 East Cary Street
          Post Office Box 500
          Richmond, Virginia 23218-0500
          Telephone: (804) 771-9500
          Facsimile: (804) 644-0957
          E-mail: rwestermann@hf-law.com
                  rgreenleaf@hf-law.com

Lexon Insurance's attorneys:

          William E. Shmidheiser, III
          Lenhart Pettit
          90 North Main Street, Suite 201
          P.O. Box 1287
          Harrisburg, VA 22803
          Tel: (540) 437-3137
          Fax: (540) 437-3101

                - and -

          Kelly C. Griffith, Esq.
          Lee E. Woodard, Esq.
          HARRIS BEACH PLLC
          333 West Washington St.
          Suite 200
          Syracuse, NY 13202
          Tel: (315) 423-7100
          Fax: (315) 422-9331
          E-mail: kgriffith@harrisbeach.com
                  lwoodard@harrisbeach.com

                       About Xinergy Ltd.

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

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

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

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

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

The Informal Prepetition Noteholder Committee and DIP Lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison.


XINERGY CORP: Plan Confirmation Hearing Resumes Jan. 27
-------------------------------------------------------
Judge Paul M. Black will resume on Jan. 27, 2016, at 11:00 a.m.
prevailing Eastern Time, the hearing to consider confirmation of
Xinergy Ltd's Chapter 11 plan.

The Debtors' Plan contemplates emergence from Chapter 11 with the
businesses to continue to operate in virtually the same manner they
operated prior to the Petition Date but with the debt scheme
restructured and contemplates the parent corporation Xinergy Corp.
will b reorganized into New Holdco and all equities, securities in
Xinergy, Ltd., will be cancelled.  The common stock in New Holdco
will be distributed to holders of general unsecured claims, and
holders of equity-based awards issued under the management
incentive plan.

A copy of the Amended Disclosure Statement filed Oct. 1, 2015, is
available for free at:

        http://bankrupt.com/misc/Xinergy_454_1st_Am_DS.pdf

The Debtors on Jan. 14, 2016, filed a plan supplement related to
their First Amended Joint Plan of Reorganization.  The documents
included in the Plan Supplement are Summary of Proposed Principal
Terms of Governance and Related Rights, Exit Facility Term Sheet,
Disclosure of Proposed Officers and Directors of Reorganized
Debtors; and List of Rejected Executory Contracts and Unexpired
Leases of Nonresidential Real Property

White Forest Resources, Inc., will be a newly-formed holding
company formed to hold the equity interests of Xinergy as of
immediately following the effectiveness of Xinergy's Chapter 11
restructuring.

Parties to the Stockholders' Agreement include White Forest,
Centerbridge Partners, Spectrum Group Management, Credit Suisse
Asset Management, one or more funds managed by Whitebox Advisors
LLC and each other holder of shares of common stock of the Company
immediately following the completion of the Chapter 11
restructuring.

The Board will initially be comprised of five members (each, a
"Director"), as follows:

  (a) Centerbridge and Spectrum will each designate one Director;
provided, that if either Centerbridge or Spectrum ceases to hold at
least 70% of the total number of Shares initially held by such
party (as set forth on Annex A hereto), such party will no longer
have the right to designate a Director;

  (b) CSAM and Whitebox (each, a "CSAM/Whitebox Party") will
jointly designate one Director (the "CSAM/Whitebox Director");
provided, that if either CSAM or Whitebox ceases to hold at least
85% of the total number of Shares initially held by such party, the
CSAM/Whitebox Director will be designated solely by the other
CSAM/Whitebox Party; provided, further that if both CSAM and
Whitebox cease to hold at least 85% of the total number of Shares
initially held by such parties respectively, CSAM and Whitebox will
no longer have the right to designate a CSAM/Whitebox Director;

  (c) one Director will be the Company's chief executive officer;
and

  (d) the remaining Directors (initially, one Director), each of
whom will be independent directors (to be defined), will be elected
by the vote of a supermajority (66 2/3rds) of the Shares issued and
outstanding.

The Summary Term Sheet of the proposed exit financing of Xinergy
provides that the Company will have this Exit Capital Structure:

   * A senior secured term loan facility in an aggregate principal
amount of $12,000,000 (the "First Lien Facility" and the loans
thereunder, the "First Lien Term Loans"), $1,500,000 of which will
consist of the Senior DIP Term Loans (which will be automatically
converted into First Lien Term Loans on a dollar for dollar basis),
and $10,500,000 of which will consist of new money (such portion,
the "New Money First Lien Term Loan").1

   * A second lien secured term loan facility in an aggregate
principal amount of $47,000,000 (plus any accrued and unpaid
capitalized interest on the 2015 DIP Term Loans as of the effective
date of the plan) (the "Second Lien Facility" and the loans
thereunder, the "Second Lien Term Loans"), which shall consist
solely of converted 2015 DIP Term Loans on a dollar for dollar
basis.

   * Equity: 100% to holders of Prepetition Notes, subject to
dilution as set forth below

In its Disclosure of Proposed Officers and Directors of Reorganized
Debtors, XInergy disclosed that Jeffrey A. Wilson will serve as CEO
and Michael R. Castle will serve as CFO.

A copy of the Plan Supplement is available for free at:

        http://bankrupt.com/misc/Xinergy_628_Plan_Supplement.pdf

                            Plan Timeline

On Sept. 16, 2015, the Xinergy and its subsidiaries filed their
proposed Joint Chapter 11 Plan and Disclosure Statement.  On Oct.
1, 2015, the Debtors filed an amended Disclosure Statement.

On Oct. 16, 2015, the Court entered an order approving the
disclosure statement, pursuant to which Nov. 24, 2015 was
established as the deadline for ballots accepting or rejecting the
Plan, and Dec. 1, 2015 was established as the hearing date to
consider confirmation of the Plan.

Under the terms of the Plan, the Debtors are required to file the
Plan Supplement, including, without limitation, the New Holdco
Shareholders Agreement, the New Holdco Governance Documents, the
Rejection Schedule, and the Exit Facility Term Sheet(s), on or
before five (5) business days prior to the Voting Deadline, or such
later date as may be approved by the Court on notice to parties in
interest.

On Nov. 20, 2015, the Debtors filed a motion seeking a continuance
of the Confirmation Hearing in order to permit the Debtors
additional time to continue negotiating the terms of the Exit
Facility with the DIP Facility Lenders and the Consenting
Noteholders, as well as to continue addressing certain corporate
and governance issues of the Reorganized Debtors.  The Debtors said
they require the additional time in order to prepare the documents
to be contained in the Plan Supplement.

At the Debtors' behest, on Nov. 24, Judge Black entered an order
(i) postponing the confirmation hearing scheduled for Dec. 1, 2015,
to Jan. 27, 2016, (ii) extending the Plan voting deadline to Jan.
2016, and (iii) extending the deadline to file confirmation
objections to Jan. 20, 2016.

Plan confirmation objections have been filed by the Internal
Revenue Service; Sabra Investments LP; and Lexon Insurance Company
and Bond Safeguard Insurance Company.

On Jan. 14, 20156, the Debtors filed their Plan Supplement.

Counsel to the Debtors:

         Tyler P. Brown, Esq.
         Henry P. (Toby) Long, III, Esq.
         Justin F. Paget, Esq.
         HUNTON & WILLIAMS LLP
         Riverfront Plaza, East Tower
         951 East Byrd Street
         Richmond, VA 23219
         Telephone: (804) 788-8200
         Facsimile: (804) 788-8218
         E-mail: tpbrown@hunton.com
                 hlong@hunton.com
                 jpaget@hunton.com

                       About Xinergy Ltd.

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

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

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

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

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

The Informal Prepetition Noteholder Committee and DIP Lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison.

Plan confirmation objections have been filed by the Internal
Revenue Service; Sabra Investments LP; and Lexon Insurance Company
and Bond Safeguard Insurance Company.  ACIN LLC and WPP LLC each
filed an objection to the Debtors' notice of assumption of
contracts and the proposed cure amounts.


ZOGENIX INC: Gets Fast Track Designation for ZX008 Development
--------------------------------------------------------------
Zogenix, Inc., announced receipt of Fast Track designation from the
U.S. Food and Drug Administration for the development program of
its investigational product, ZX008, as a treatment of seizures
associated with Dravet syndrome, a rare and catastrophic form of
childhood epilepsy.

The FDA's Fast Track program was established to facilitate the
development and expedite the review of drugs with the potential to
treat serious conditions and address unmet medical needs. Companies
that receive Fast Track designation are provided the opportunity
for more frequent interactions with the FDA during clinical
development and are eligible for accelerated approval and/or
priority review, if relevant criteria are met. Additionally,
companies that receive Fast Track designation are allowed to submit
completed sections of their New Drug Application for the drug on a
rolling basis, resulting in the potential for an expedited FDA
review process.

                         About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

Zogenix reported net income of $8.58 million in 2014 following a
net loss of $80.85 million in 2013.

As of June 30, 2015, the Company had $246.7 million in total
assets, $138.6 million in total liabilities and $108.1 million in
total stockholders' equity.

Ernst & Young LLP, in San Diego, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2014, citing that the Company's
recurring losses from operations and negative cash flows from
operating activities raise substantial doubt about its ability to
continue as a going concern.


[*] Holland & Knight Adds Kenneth Noble in Boston and New York
--------------------------------------------------------------
Bankruptcy attorney Kenneth Noble has joined Holland & Knight as a
partner in its Boston and New York offices.  He most recently was
the head of Katten Muchin Rosenman's insolvency and restructuring
practice in New York and previously served as the national co-chair
of the practice and as a member of the firm's executive committee
and board of directors.

Mr. Noble represents foreign and domestic banks, financial
institutions, funds and other creditor groups in connection with
middle market and large cap out-of-court workouts and bankruptcy
proceedings.  His restructuring practice is industry agnostic,
often concentrating in specific sectors based on macro- and
micro-economic trends.  He is a sought-after lecturer on complex
and emerging bankruptcy and restructuring issues and is recognized
by Best Lawyers in America, Super Lawyers and Who's Who in American
Law.

"Ken maintains an active creditor-based practice and is highly
regarded in the restructuring community and among senior
creditors," said John Monaghan, the leader of Holland & Knight's
Bankruptcy, Restructuring and Creditors' Rights Practice Group. "We
expect him to be an important contributor not only to our
bankruptcy practice, but also to our corporate finance practice. He
currently represents many of that group's existing financial
institution clients, which presents an opportunity to deepen the
firm's relationships with them."

"Holland & Knight has an outstanding bankruptcy practice and a
robust corporate finance practice, and I am delighted to be joining
such a dynamic team of lawyers," said Mr. Noble. "I look forward to
working with my new colleagues to grow the practice nationally, as
well as to play a role in helping the firm expand its
representation of financial institutions, which is one of its
strategic priorities."


[*] Holland & Knight Adds Kenneth Noble in Boston and New York
--------------------------------------------------------------
Bankruptcy attorney Kenneth Noble has joined Holland & Knight as a
partner in its Boston and New York offices.  He most recently was
the head of Katten Muchin Rosenman's insolvency and restructuring
practice in New York and previously served as the national co-chair
of the practice and as a member of the firm's executive committee
and board of directors.

Mr. Noble represents foreign and domestic banks, financial
institutions, funds and other creditor groups in connection with
middle market and large cap out-of-court workouts and bankruptcy
proceedings.  His restructuring practice is industry agnostic,
often concentrating in specific sectors based on macro- and
micro-economic trends.  He is a sought-after lecturer on complex
and emerging bankruptcy and restructuring issues and is recognized
by Best Lawyers in America, Super Lawyers and Who's Who in American
Law.

"Ken maintains an active creditor-based practice and is highly
regarded in the restructuring community and among senior
creditors," said John Monaghan, the leader of Holland & Knight's
Bankruptcy, Restructuring and Creditors' Rights Practice Group. "We
expect him to be an important contributor not only to our
bankruptcy practice, but also to our corporate finance practice. He
currently represents many of that group's existing financial
institution clients, which presents an opportunity to deepen the
firm's relationships with them."

"Holland & Knight has an outstanding bankruptcy practice and a
robust corporate finance practice, and I am delighted to be joining
such a dynamic team of lawyers," said Mr. Noble. "I look forward to
working with my new colleagues to grow the practice nationally, as
well as to play a role in helping the firm expand its
representation of financial institutions, which is one of its
strategic priorities."


[*] Quanta Resources Wants Gibbons Disqualified in Superfund Row
----------------------------------------------------------------
Dani Meyer at Bankruptcy Law360 reported that Quanta Resources
Corp. told a New York federal judge on Jan. 13, 2016, that Gibbons
PC must be disqualified from litigation over a contaminated Queens
refining facility because it formerly advised Quanta on conduct the
firm is now calling "egregious" and grounds to toss the company's
CERCLA claims.

Quanta already tried to disqualify Gibbons in 2013 from
representing Rexam Beverage Can Co. because the firm allegedly
represented parties with adverse interests in the Comprehensive
Environmental Response, Compensation and Liability Act suit.  That
motion that hasn't yet been ruled on.


[*] Robert Gayda Joins Seward & Kissel's Bankruptcy Practice in NY
------------------------------------------------------------------
National law firm Seward & Kissel LLP on Jan. 21 disclosed that
Robert J. Gayda has joined the Firm's New York office as Counsel in
the Bankruptcy and Reorganization group.  He previously served as
Counsel with Chadbourne & Parke LLP in their Bankruptcy and
Financial Restructuring group, where he was also seconded to the
Royal Bank of Scotland's ("RBS") Global Restructuring group from
2009-2010.

"Bob is a talented attorney and an excellent addition to the Firm,"
said Seward & Kissel Managing Partner Jim Cofer.  "He has a strong
background in areas of key strategic importance to our bankruptcy
practice, and we look forward to having him as a colleague."

Mr. Gayda's practice focuses on bankruptcy and financial
restructuring.  He has experience representing clients in a wide
range of matters, from out-of-court restructurings to bankruptcy
litigation.  Mr. Gayda's clients include creditors' committees,
hedge funds, banks, insurance companies, bondholders, agents for
lender groups, and other creditors in all phases of restructuring.
He also counsels entities seeking to invest in distressed assets as
well as companies considering filing for bankruptcy protection.

"Bob will be a significant asset to our group," said John Ashmead,
the head of the Firm's Bankruptcy and Reorganization practice
group.  "His broad experience, both in-house at RBS and as counsel
to a variety of creditors and debtors, is of tremendous value.  We
know our clients will benefit significantly from his background and
contributions."

"As I carefully considered this next step in my career, the more I
learned about Seward & Kissel, the more I realized it would be a
natural fit for me," said Mr. Gayda.  "The type and caliber of work
being done here, combined with the talent of my new colleagues,
provides me with a solid platform from which to grow my practice
and serve my clients."

Mr. Gayda holds a J.D. from the University of Pennsylvania Law
School and a B.A. (summa cum laude) from West Virginia University.

                   About Seward & Kissel LLP

Seward & Kissel LLP, founded in 1890, is a U.S. law firm with an
international reputation for excellence.  It has offices in New
York City and Washington, D.C.  Its practice primarily focuses on
corporate, litigation and restructuring/bankruptcy work for clients
seeking legal expertise in the financial services, corporate
finance and capital markets areas.  The Firm is particularly well
known for its representation of major commercial banks, investment
banking firms, investment advisers and related investment funds
(including mutual funds and hedge funds), master servicers,
servicers, investors, distressed trade brokers, liquidity
providers, hedge fund administrators, broker-dealers, institutional
investors, and transportation companies (particularly in the
shipping area).


[^] BOOK REVIEW: EPIDEMIC OF CARE
---------------------------------
Author:     George C. Halvorson
            George J. Isham, M.D.
Publisher:  Jossey-Bass; 1st edition
Hardcover:  271 pages
List Price: $28.20

Order your personal copy today at
http://www.amazon.com/exec/obidos/ASIN/0787968889/internetbankrupt

Halvorson and Isham worked together as leaders of the Minneapolis
health-care organization HealthPartners; Halvorson as chairman and
CEO, and Isham as medical director and chief health officer. From
their positions as leaders in the health-care field, they have
gained a broad, thorough understanding of the structure, workings,
and the problems of America's health-care system. Their "Epidemic
of Care" written in a readable, lucid, jargon-free style is a
timely work for anyone interested in the pressing matter of
satisfactory health care in America. This includes government
workers, politicians, executives of HMOs and hospitals, and
critics of health care, to individuals making choices about their
own health care. It is a notable work both practical and visionary
that one hopes legislators and heads of HMOs will take in. For
Halvorson and Isham make their way through the daunting
complexities of today's health-care system to put their finger on
its core problems and offer practicable solutions to these.
     
The two main problematic issues of contemporary health care are
health-care costs and quality of care. These two authors offer
solutions taking into consideration both of these. They put forth
balanced proposals instead of the many one-sided ones which stress
cutting costs at the expense of care or favor care regardless of
costs, costs usually born by government from tax revenues. In the
authors' comprehensive, balanced proposals, corporations and
businesses of all sizes, government agencies, health-care
organizations of all types, state and local governments and health
organizations, and also individuals work together cooperatively
for the goal of affordable, effective, and widespread up-to-date
health care.
     
Before outlining their program for dealing with the problems in
health care, which are only growing worse in the present system,
the authors relate information on different parts of today's
system most readers would not be aware of. Then they analyze it to
focus in on what is causing the problems in the particular area of
health care. In some cases, misconceptions held among the public
are cleared up, paving the way toward agreement on what are the
real problems and coming up with acceptable solutions for them.
The percentage of the cost of HMO membership and insurance
premiums going for administration is one such misconception.
"People guess, in fact, that HMO and insurance administration
costs are about 30 to 40 percent of premiums and that insurer
profits add another 10 to 20 percent of the total cost." This
means that anywhere from about 40 percent to 60 percent of
payments for HMOs or insurance doesn't go for health care. The
authors clear up this misconception giving rise to much confusion
in trying to deal with the serious problems facing the health-care
field, as well as a good deal of resentment against HMOs and
insurance companies, by citing that "health plan administrative
costs, including profits and marketing, average from 5 to 30
percent of total premium, depending on the plan." This leads to
the conclusion that it is not a sudden rise in administrative
costs or the greed of health-care providers that is mainly
responsible for driving up the costs of health care and will
continue to do so for the foreseeable future without effective
change in the field. Rising costs of health care from new
technologies, consumer expectations and demands, and also misuse
of drugs and treatments making patients worse or prolonging their
medical problems are the main reason for the rising costs. The
frequent misuse of modern-day medicines and treatments cited by
the authors is an issue that is starting to receive attention in
the media.
   
The price of prescription drugs is one health-care issue already
receiving much attention that the authors address. In this
discussion, they note that because of committees of physicians and
pharmacologists set up by HMOs to identify which drugs were most
effective for specific medical problems and set standards for
prescribing these according to HMO policies, "all Americans
benefited from the new focus on drugs that actually work." Before
these committees, eighty-four percent of drugs developed by the
pharmaceutical companies were what were know as "class C" drugs
that were little better than placebos. As the authors note, in
those days not so long ago, drugs were being developed and
marketed more to generate sales than remedy medical conditions.
The high cost Americans pay for prescription compared to buyers in
other countries is another matter the two authors take up. In
this, they take the position of American buyers of prescription
drugs by making the point that they should not be singled out to
bear the disproportionate share of the research and marketing
costs going into the drug prices since numbers of persons in
countries around the world gain health benefits from the drugs.
The wasteful similarities between some prescription drugs, the
misuse of some, and growing concerns over costs and use of the
drugs with persons under sixty-five are other topics dealt with in
the discussion and analysis of the issue of prescription drugs.
     
Halvorson and Isham's fair-minded overview and critique of today's
heath-care field should be read by anyone with an interest in and
concern about this field central to the quality of life of
Americans and the economy. While they recognize that the field's
dysfunctions have such deep roots and thorny complexities that
"there is no single villain responsible for our troubles and no
silver bullet to cure them," undoubtedly some and likely a number
of the two authors' approaches to resolving particular troubles or
even their solutions to certain problems will be adopted. There is
just no way out of the current health-care crisis other than the
clear-sighted, comprehensive, cooperative way Halvorson and Isham
present.

George Halvorson is currently chairman and CEO of Kaiser
Permanente, one of the U. S.'s largest health-care organizations.
Isham continues as medical director and chief health officer of
HealthPartners.


                            *********

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
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re-mailing and photocopying) is strictly prohibited without prior
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                   *** End of Transmission ***