TCR_Public/160126.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, January 26, 2016, Vol. 20, No. 26

                            Headlines

A.M. CASTLE: S&P Lowers CCR to 'CC', Outlook Negative
ADS WASTE: S&P Affirms 'B' CCR & Revises Outlook to Positive
AJ GREENTECH: Incurs Net Loss, Raises Going Concern Doubt
ALEXZA PHARMACEUTICALS: Gets Another NASDAQ Noncompliance Notice
ALLIED FINANCIAL: Hires Carmen D. Conde as Bankr. Counsel

ALON BLUE SQUARE: Debt Arrangement Casts Going Concern Doubt
AMERICAN APPAREL: Dov Charney Comments on Plan Ruling
AMERICAN APPAREL: Former CEO Assails "Faithless" Board in Court
AMERICAN APPAREL: Wins Approval of Ch. 11 Reorganization Plan
ASPECT SOFTWARE: S&P Lowers CCR to 'CCC-', Outlook Negative

ATHLACTION HOLDINGS: S&P Revises Outlook to Neg. & Affirms 'B' CCR
ATLANTIC & PACIFIC: Has Court OK to Reject 160 East Lease
ATLANTIC CITY, NJ: Considers Bankruptcy as Aid Package Vetoed
ATLANTIC CITY, NJ: Manager Suggests Privatizing Fire Department
ATLANTIC CITY: Officials to Talk Possibility of Bankruptcy

ATP OIL: Insurer Owes Contractor Defense, Court Rules
AZIZ CONVENIENCE: Court OKs Munsch Hardt as Environmental Counsel
BBEAUTIFUL LLC: Case Summary & 20 Largest Unsecured Creditors
BERNARD L. MADOFF: NY Court Won't Revive Investor Suit Against KPMG
BIOLIFE SOLUTIONS: Terminates Chief Operating Officer

BRANTLEY LAND: Case Dismissal Hearing Continued to March 10
BRUNSWICK: Moody's to Retain Ba1 CFR on Acquisition of Cybex
CAESARS ENT: Court Wants Examiner's Report To Be Made Public
CAESARS ENTERTAINMENT: Judge Rips Attys. for Phone Use at Hearings
CAESARS ENTERTAINMENT: Judge Says Make Report Public or Chapter 7

CAESARS ENTERTAINMENT: Status Hearing Held on Bid to Disqualify K&E
CARDIAC SCIENCE: Files Bankruptcy Rule 2015.3 Periodic Report
CASH STORE: CCAA Court Enters Plan Sanction Order
CASH STORE: U.S. Court Signs Chapter 15 Recognition Order
CLIFFS NATURAL: Hibbing Gets Mine Safety Order at Minnesota Plant

CONGREGATION BIRCHOS: Taps Allen Kolber as Counsel
CORNERSTONE HOMES: Court Allows Cash Collateral Use Up To Jan. 31
CUI GLOBAL: Clear Harbor Holds 5.2% Equity Stake as of Dec. 31
DETROIT, MI: Taubitz's Plan Appeal Dismissed as Equitably Moot
DISTRICT AT MCALLEN: City Bank Withdraws Bid to Appoint Trustee

DOMARK INTERNATIONAL: Tonaquint Has 9.9% Stake as of Jan. 22
DOMINION RESOURCES TRUST: Auditor Expresses Going Concern Doubt
DREIER LLP: Cosmetics Plus's Claims Unsecured, Court Rules
EMPIRE RESORTS: Kien Huat Reports 71.5% Stake as of Jan. 14
FOREST PARK SOUTHLAKE: GAHC3 Agrees to Provide $13M in Financing

FOREVERGREEN WORLDWIDE: Amends 2014 Form 10-K to Add Disclosure
FUHU HOLDINGS: Mattel Wins Auction With $21.5M Bid
FUHU INC: Creditor Asserts Insufficient Marketing of Assets
FUHU INC: Mattel Wins Bankruptcy Auction with $21.5-Mil. Bid
GELTECH SOLUTIONS: Presented at 2016 Annual Shareholders Meeting

GRAFTECH INT'L: Moody's Lowers CFR to B3, Outlook Negative
HAGGEN HOLDINGS: Albertsons Settles Litigation
HEADWATERS INCORPORATED: Moody's Raises CFR to B1, Outlook Stable
HEALTH DIAGNOSTIC: Assets Sold to True Health, Oncimmune & Sydney
HEALTH DIAGNOSTIC: Files Proposed Plan of Liquidation

HEALTH DIAGNOSTIC: Targeting March 29 Confirmation of Plan
HEMCON MEDICAL: Hires Tonkon Torp as Bankruptcy Counsel
HEMCON MEDICAL: Obtains $800,000 DIP Commitment From Tricol
HEMCON MEDICAL: Section 341 Meeting Scheduled for Feb. 23
HEMCON MEDICAL: Signs $4 Million Purchase Agreement with Tricol

HEMCON MEDICAL: Wants to Use Sussex's Cash Collateral
HII TECHNOLOGIES: Creditors Committee Opposes Roll-Up Removal
HONG KONG ENTERTAINMENT: Court Dismisses Ch. 11 Bankruptcy Case
HS 45 JOHN: Chapter 11 Plan, $73MM Sale Approved by Judge
IDENTIPHI INC: High Court Takes Up $1.7M DLA Piper Negligence Row

INT'L BENEFITS: Continental Properly Denied Coverage, 4th Cir. Says
KUSH BOTTLES: RBSM LLP Expresses Going Concern Doubt
LAKE ROAD HOLDING: Plans to Wind Down in February
LAREDO PETROLEUM: S&P Lowers CCR to 'B', Outlook Stable
MADISON NICHE: Seeking U.S. Recognition of Cayman Liquidation

MAGNUM HUNTER: Court Authorizes $200-Mil. Postpetition Financing
MEDICURE INC: To Present at Cantech Investment Conference
MEGA RETAIL: Plan to Sell YOU Chain Casts Going Concern Doubt
MICROCHIP TECHNOLOGY: S&P Lowers CCR to 'BB', Outlook Stable
MILLENNIUM HEALTH: S&P Suspends 'D' Corporate Credit Rating

MOLYCORP INC: Eyes Chapter 11 Bankruptcy Exit in April
MOLYCORP INC: Files Amended Reorganization Plan
MOLYCORP INC: Judge to Hear Bloomberg Objections To Leak Hunt
MONTREAL MAINE: Insurers Barred from Suing Western Petroleum
MONTREAL MAINE: Payout Plan Became Effective Dec. 22

NCI BUILDING: S&P Raises CCR to 'BB-', Outlook Stable
NDB COMPANY: Board Approves Plan of Liquidation & Dissolution
NET ELEMENT: Kenges Rakishev Reports 18.4% Stake as of Jan. 21
NET ELEMENT: Signs Second Letter Agreement with Director
NEW BEGINNINGS: Case Summary & 30 Largest Unsecured Creditors

NORTEL NETWORKS: Milbank Tweed Files Supplemental 2019 Statement
PEABODY ENERGY: Might Run Out of Cash in 9 Months, Bankr. Possible
POSTMEDIA NETWORK: Moody's Lowers CFR to Caa2, Outlook Negative
PRIMORSK INTL: Gets OK to Tap Cash; Lender Questions NY Case Venue
PT HOLDCO: Ontario Court Names FTI Consulting as Monitor

PTC SEAMLESS: Court OKs Settlement with Black Diamond, Committee
QUANTUM CORP: Eric Singer Reports 7.8% Stake as of Jan. 19
QUICKSILVER RESOURCES: Completes Auction of U.S. Oil & Gas Assets
QUICKSILVER RESOURCES: Creditors Complain of Inadequate Cure Amount
RELATIVITY FASHION: Court OKs Payment of Fees to Co-Lead Arrangers

RELATIVITY FASHION: Netflix Files Objection to Chapter 11 Plan
RG STEEL: Ira Rennert Settles Lawsuit Filed by U.S. Pension Agency
RITE AID: Signs Stock Trading Plan with Chief Accounting Officer
ROYAL ENERGY: Paritz & Company Expresses Going Concern Doubt
SEAHAWK DRILLING: 5th Circ. Upholds Insurers' Oil Rig Coverage Win

SEVENTY SEVEN: Moody's Lowers CFR to Caa3, Outlook Negative
SMART WORLDWIDE: S&P Revises Outlook to Neg. & Affirms 'B' CCR
SPENDSMART NETWORKS: Further Extends Tender Offer Until Feb. 5
SPORTS AUTHORITY: May File for Bankr. If Bondholder Talks Fail
STELMA PROPERTIES: Case Summary & 20 Largest Unsecured Creditors

TARGUS INC: Public Auction of Assets on February 1
TAYLOR BEAN: Freddie Mac Ends $1.3 Billion Suit Against Deloitte
TAYLOR WHARTON: Worthington Industries Buys CryoScience Assets
TELEXFREE LLC: Trustee Files Suit Against 78,000 Investors
TERA GROUP: LeoGroup To Hold Public Sale on February 11

TRI STATE TRUCKING: Gets Interim Approval to Use Cash Collateral
ULTIMATE NUTRITION: Cash Collateral Used Okayed Until Jan. 31
VERSO PAPER: S&P Lowers Corporate Credit Rating to 'D'
VIGGLE INC: 6% Shareholder Calls for New Chief Executive Officer
VISCOUNT SYSTEMS: Appoints Principal Financial Officer

WALTER ENERGY: Court Denies Bid to Stay Order Approving Asset Sale
WIRE COMPANY: Court OKs $3.69-Mil. DIP Credit Agreement
YELLOW CAB COOP: Case Summary & 25 Top Unsecured Creditors
[*] Conway MacKenzie Announces the Promotion of 11 Professionals
[*] Greenberg Traurig Malpractice Suit Dismissed by Calif. Court

[*] Jones Day Named Among Blaw360's Bankruptcy Group of the Year
[*] Justices Won't Eye Ruling to Keep Ch. 15-Linked Suit Federal
[*] Moody's Puts 11 U.S. Mining Companies on Review for Downgrade
[*] Moody's Puts 12 Canadian Mining Cos. on Review for Downgrade
[*] Moody's Reviews Canadian Energy Cos.' Ratings for Downgrade

[*] US Corn Belt Wants New Debt Cap for Fear of Farm Bankruptcies
[^] Large Companies with Insolvent Balance Sheet

                            *********

A.M. CASTLE: S&P Lowers CCR to 'CC', Outlook Negative
-----------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Oak Brook, Ill.-based A.M. Castle & Co. to 'CC'
from ' CCC+'.  The outlook is negative.  S&P also lowered the
rating on the company's 12.75% senior secured notes to 'CC' from '
CCC+'.  The recovery rating on the debt remains '3', indicating
S&P's expectation for meaningful (lower half of the 50% to 70%
range) recovery in the event of payment default.

The rating action reflects A.M. Castle's Jan. 15, 2016 announcement
of an exchange offer for its senior secured notes.

"We are lowering our corporate credit rating on the company and our
issue-level rating on its senior secured debt because we view the
related transactions to be distressed," said Standard & Poor's
credit analyst Patricia Mendonca.  "This determination is based on
the company's financial condition, the possibility of default if
the exchange is not successful, and that noteholders who do not
agree to exchange their notes will be stripped of the original
security package."

S&P's rating outlook is negative.  S&P intends to lower the
corporate credit rating to 'SD' and the affected issue-level rating
to 'D' on completion of the senior secured notes exchange offer.
Subsequently, S&P would assign a corporate credit rating and
outlook that would reflect the new capital structure.



ADS WASTE: S&P Affirms 'B' CCR & Revises Outlook to Positive
------------------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'B' corporate credit rating and all of its other ratings on Ponte
Vedra, Fla.-based ADS Waste Holdings Inc., the holding company of
solid waste services company Advanced Disposal Services Inc.  At
the same time, S&P revised its outlook on the company to positive
from stable.

"The affirmation reflects our view that ADS' reduction in costs and
solid profitability will allow its adjusted debt-to-EBITDA ratio to
continue to align with the 6.0x-6.5x expectation we have for the
existing ratings," said Standard & Poor's credit analyst James
Siahaan.  "As of Sept. 30, 2015, the company's trailing-12-month
adjusted EBITDA margin had improved by almost 300 basis points
compared with the prior period."

The positive rating outlook reflects S&P's view that the company is
likely to complete its initial public offering and use a portion of
the proceeds to reduce debt and maintain a financial risk profile
that is appropriate for S&P's rating.  Although the company's debt
leverage was high as of Sept. 30, 2015, with a 6.2x adjusted
debt-to-EBITDA ratio, S&P estimates that pro forma for the IPO this
figure could improve to less than 6.0x, as S&P assumes that a
portion of the term loan is repaid.  In addition to the debt
repayment, the outlook also envisions the company sustaining its
improved margins, assisting in the leverage reduction.  For the
current rating, S&P expects ADS to generate solid free cash flow
and maintain debt leverage of 6.0x-6.5x over the next 12 months.

S&P could lower its ratings on ADS if the company's adjusted
debt-to-EBITDA ratio approaches 7x, or if its liquidity starts to
become constrained such that the level of EBITDA headroom under its
revolving facility declines to less than 15%.  S&P could also lower
its ratings on the company if outlays for acquisitions or
shareholder rewards cause its financial risk profile to
deteriorate.

S&P could raise its ratings on ADS if, following the completion of
the IPO and subsequent use of proceeds to reduce debt, the company
is able to maintain an adjusted debt-to-EBITDA ratio of less than
6.0x.  If its operating performance and financial policies are
conducive to that level, then S&P would revise its comparable
ratings analysis modifier assessment to neutral and raise the
corporate credit rating by one notch to 'B+'.



AJ GREENTECH: Incurs Net Loss, Raises Going Concern Doubt
---------------------------------------------------------
AJ Greentech Holdings, Ltd., posted a net loss of $504,185 for the
three months ended Sept. 30, 2015, compared with a net income of
$17,216 for the same period in 2014.

Chu Li An, chief executive officer of the company, in a regulatory
filing with the U.S. Securities and Exchange Commission on Nov. 27,
2015, pointed out, "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 any private placements, public offering and/or bank financing
are insufficient to support the company's working capital
requirements, the company will have to raise additional working
capital from additional financing.  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 not be able continue its
operations.

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

At Sept. 30, 2015, the company had total assets of $2,448,999,
total liabilities of $2,050,818 and stockholders' equity of
$398,181.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/zj5wamb

Flushing, New York-based AJ Greentech Holdings, Ltd., through its
China subsidiary, was previously engaged in design, marketing and
distribution of alcohol base clean fuel that are designed to use
less fossil fuel and have lease pollution than traditional fuel.
As result of certain transactions completed in 2013, the company
now carries out electronic products and general cargo trading and
related consulting service business through its subsidiary in
Taiwan.


ALEXZA PHARMACEUTICALS: Gets Another NASDAQ Noncompliance Notice
----------------------------------------------------------------
Alexza Pharmaceuticals, Inc., received a notice from The NASDAQ
Stock Market indicating that Alexza' common stock does not meet the
continued listing requirement as set forth in NASDAQ Rule
5550(a)(2) based on the closing bid price of the Common Stock for
the preceding 30 business days.  The minimum closing bid price
required to maintain continued listing on The NASDAQ Capital Market
is $1.00 per share.

Under NASDAQ Rule 5810(c)(3)(A), Alexza has a 180 calendar day
grace period from the date of the Notice to regain compliance by
meeting the continued listing standard.  The continued listing
standard will be met if the Common Stock has a minimum closing bid
price of at least $1.00 per share for a minimum of 10 consecutive
business days during the 180 calendar day grace period.  If Alexza
does not regain compliance within the 180 calendar day grace
period, it will be afforded an additional 180 calendar day
compliance period, provided that on the 180th day of the first
grace period Alexza (i) meets the applicable market value of
publicly held shares requirement for continued listing and all
other applicable requirements for initial listing on The NASDAQ
Capital Market (except for the bid price requirement) based on
Alexza's most recent public filings and market information and (ii)
notifies NASDAQ of its intent to cure this deficiency.  If Alexza
does not indicate its intent to cure the deficiency or if it does
not appear to NASDAQ that it would be possible for Alexza to cure
the deficiency, Alexza would not be eligible for the second 180 day
compliance period, and its securities would then be subject to
delisting from The NASDAQ Capital Market.  If Alexza is unable to
regain compliance during the first 180 calendar day grace period
or, if applicable, the second 180 day compliance period, and
receives a delisting determination from NASDAQ it may, at that
time, request a hearing to remain on The NASDAQ Capital Market,
which request will ordinarily suspend such delisting determination
until a decision by NASDAQ subsequent to the hearing.

                     Market Value Deficiency

Alexza previously received notice from NASDAQ indicating that
Alexza would be subject to delisting from The NASDAQ Capital Market
for not meeting the continued listing requirement as set forth in
NASDAQ Rule 5550(b)(2) based on the market value of Alexza's listed
securities for the 30 business days preceding
June 19, 2015.  The minimum market value of listed securities for
continued listing on The NASDAQ Capital Market is $35 million.
Alexza subsequently requested a hearing before the NASDAQ Listing
Qualifications Panel to review the NASDAQ Determination and the
NASDAQ Determination has been stayed, pending a final written
decision by the Panel.  Alexza cannot predict at this time what
effect, if any, the Notice may have on the Panel's ultimate
decision regarding the NASDAQ Determination.  Additionally, Alexza
cannot predict, based on the NASDAQ Determination, if it will be
eligible for a second 180 day compliance period regarding the
minimum closing bid price of the Common Stock, if necessary.

"There can be no assurance that Alexza will be successful in
maintaining the listing of its Common Stock on The NASDAQ Capital
Market.  This could impair the liquidity and market price of the
Common Stock.  In addition, the delisting of the Common Stock from
a national exchange could have a material adverse effect on
Alexza's access to capital markets, and any limitation on market
liquidity or reduction in the price of the Common Stock as a result
of that delisting could adversely affect Alexza's ability to raise
capital on terms acceptable to Alexza, or at all," the Company said
in a regulatory filing with the Securities and Exchange Commission.


                About Alexza Pharmaceuticals, Inc.

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

Alexza Pharmaceuticals reported a net loss of $36.7 million in 2014
compared to a net loss of $39.6 million in 2013.

As of Sept. 30, 2015, the Company had $26.2 million in total
assets, $95.1 million in total liabilities and a $68.8 million
total stockholders' deficit.

Ernst & Young LLP, in Redwood City, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing that the Company has recurring
losses from operations and has a net capital deficiency that raise
substantial doubt about its ability to continue as a going concern.


ALLIED FINANCIAL: Hires Carmen D. Conde as Bankr. Counsel
---------------------------------------------------------
Allied Financial, Inc., seeks authority from the Bankruptcy Court
to employ Carmen D. Conde Torres, Esq., from the law firm of C.
Conde & Assoc., as its legal counsel.  Ms. Torres is expected to:

   (a) advise the Debtor with respect to its duties, powers and
       responsibilities under the laws of the United States and
       Puerto Rico in which the Debtor conducts its operations,
       does business, or is involved in litigation;

   (b) advise the Debtor in connection with a determination
       whether a reorganization is feasible and, if not, help the
       Debtor in the orderly liquidation of its assets;

   (c) assist the Debtor with respect to negotiations with
       creditors for the purpose of arranging the orderly
       liquidation of assets or for proposing a viable plan of
       reorganization;

   (d) prepare on behalf of the Debtor the necessary complaints,
       answers, orders, reports, memoranda of law or any other
       legal papers or documents;

   (e) appear before the Bankruptcy Court, or any court in which
       the Debtor asserts a claim interest or defense directly or
       indirectly related to its bankruptcy case;

   (f) perform other legal services for the Debtor as may be
       required or in connection with the operation of/and
       involvement with the Debtor's business, including
       professional services, if necessary; and

   (g) employ other professional services, if necessary.

To the best of the Debtor's knowledge, neither Carmen D. Conde
Torres nor any of her employees, represents or hold any interest
adverse to it or the estate in the matters upon which she is to be
engaged.

Carmen D. Conde Torres' hourly rate is $300 plus any costs and
expenses.  The hourly rates of other professionals at C. Conde &
Assoc. are:

      Title                     Rate/Hour
      -----                     ---------
     Associates                   $275
     Junior Attorney              $250
     Paralegals                   $150

The Debtor paid Carmen D. Conde Torres a retainer of $25,000.

                     About Allied Financial

Allied Financial, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D. Puerto Rico Case No. 16-00180) on Jan. 15, 2016.
The petition was signed by Rafael Portela as president of the Board
of Directors.  The Debtor disclosed total assets of $10.28 million
and total debts of $9.14 million.  C. Conde & Assoc. represents the
Debtor as counsel.  Mildred Caban Flores has been assigned the
case.


ALON BLUE SQUARE: Debt Arrangement Casts Going Concern Doubt
------------------------------------------------------------
Alon Blue Square Israel Ltd. included a "going concern" comment in
its financial statements filed with its Form 6-K submitted to the
U.S. Securities and Exchange Commission on November 30, 2015.

Elli Levinson-Sela, general counsel and corporate secretary of the
company, explained: "Following Mega Retail Ltd.'s debt arrangement,
the company assumed liabilities to support Mega, including
injection of funds not to exceed the maximum amounts that were
determined in the arrangement, and subsequently the company
extended various guarantees in favor of Mega.  In addition, there
are existing guarantees that were extended in favor of Mega on
account of various liabilities of Mega prior to Mega's debt
arrangement.  Therefore, the success of Mega's reorganization plan
has material implications on the cash resources of the company.

"In addition, the company reached agreements in principle for
rescheduling its debt which have not yet approved by its financial
creditors – the bank lenders and the Series C bondholders.  In
the event these agreements in principle are not formulated into
definitive agreements duly approved by all relevant parties, the
company will be required to sell all of its assets within a short
time period in order to repay all of its liabilities, which will
result in the impairment of the company's assets.

"In light of the uncertainty regarding the success of Mega's
reorganization plan and the need to consummate the company's debt
arrangement with its financial creditors and to sell assets for
amounts that reflect their fair value, which depend among others,
on agreements with third parties, there are substantial doubts
regarding the company's continued existence as a 'going concern'.

"The company's management believes that subject to the success of
Mega's reorganization plan, which would result in the reduction of
liabilities and guarantees of the company in favor of Mega and
continuation of Mega as a going concern (including but not limited
to compliance by Mega with its payments to property owners,
employees and suppliers such that the company will not be required
to realize guarantees for Mega), and subject to the completion of
the arrangement in principle as agreed with the company's financial
creditors, the company has assets that exceed the value of its
liabilities."

At September 30, 2015, the company had total assets of
NIS6,895,394,000, total liabilities of NIS6,214,061,000 and total
equity of NIS681,332,000.

The company incurred a net loss from continued operations of
NIS21,755,000 for the three months ended September 30, 2015,
compared with a net loss from continued operations of NIS12,606,000
for the three months ended September 30, 2014.  The company also
posted a net loss from discontinued operations from NIS721,380,000
for the three months ended September 30, 2015 as compared with a
net profit from discontinued operations of $20,790,000 for the
three months ended September 30, 2014.

Full-text copies of the company's Form 6-K filing and financial
results are available for free at:

* http://tinyurl.com/jltuht4
* http://tinyurl.com/z9sky36

Alon Blue Square Israel Ltd. (NYSE: BSI) operates in five
reportable operating segments and is the largest retail company in
Israel.  In the Fueling and Commercial Sites segment, Alon Blue
Square through its 63.13% subsidiary, which is listed on the Tel
Aviv stock exchange (TASE), Dor Alon Energy in Israel (1988) Ltd.
is one of the four largest fuel retail companies in Israel based on
the number of petrol stations and an operator of 211 petrol
stations and 220 convenience stores in different formats in Israel.
In its supermarket segment, Alon Blue Square, through its
subsidiary, Mega Retail Ltd., currently operates 125 supermarkets
under different formats, each offering a wide range of food
products.  In its houseware and textile segment, Alon Blue Square,
through its TASE traded 77.51% subsidiary, Na'aman Group (NV) Ltd.
operates specialist outlets in self-operation and franchises and
offers a range of non-food products as retailer and wholesaler.  In
the real estate segment, Alon Blue Square, through its TASE traded
53.92% subsidiary Blue Square Real Estate Ltd., owns, leases and
develops income producing commercial properties and projects.  In
addition, Alon Blue Square operates the issuance and clearance of
gift certificates, through its 100% subsidiary, Alon Cellular Ltd,
operates an MVNO network in Israel and through Diners Club Israel
Ltd., an associate held at 36.75%, which operates in the sector of
issuance and clearance of YOU credit cards to the customer club
members of the group.


AMERICAN APPAREL: Dov Charney Comments on Plan Ruling
-----------------------------------------------------
Dov Charney issued a statement regarding the American Apparel
bankruptcy ruling.

"I am obviously disappointed by the judge's decision to confirm the
debtors' reorganization plan and hand ownership of American Apparel
to its bondholders," Mr. Chaney said

"This outcome is one that I have been working tirelessly for nearly
two years to avoid in an effort to protect value for the company's
various stakeholders.  Now all stockholders will have their shares
and value extinguished.

"Many of the company's loyal vendors will recover only cents on the
dollar of what the company owes them.  And the company's workers,
faced with current management's inability to generate profits, face
a highly uncertain future.

"It is without question that the debtors, Standard General and the
bondholders carefully orchestrated a strategy to pass the Company
over to the bondholders without exposing it to fair market test or
bidding.

"This outcome was the only logical and unfortunate conclusion of
many months of pre-bankruptcy preparation on the part of the
bondholders and the company's board.

"Here the bondholders and current management effectively used
Chapter 11 as a defensive measure to thwart my efforts.

"This goal was pursued despite the many alternative pathways and
opportunities to preserve value.

"As evidence of the lengths the Board went to in facilitating its
scheme they filed a 'lock-up' agreement, prohibiting secured
creditors and bondholders from considering alternative offers.

"Chief Judge Shannon was clearly concerned about the Company's
failure to undertake any marketing effort and on November 19 he
ordered them to market the Company.  Although the Debtors were
uncooperative even after the Court's order, through intensive
efforts with our financial partners, we submitted -- a bid that was
demonstrably superior to the Debtors' filed plan.  Indeed, the
Court said in its ruling that if American Apparel were for sale,
the Court would not have hesitated to send the parties back to the
auction table.

"The Debtors then increased the economics to match the offer, but
refused to engage in further negotiations.  They then embarked on a
scorched earth campaign to block further bids, subjecting myself
and my financial partners to days of depositions during the waning
days of the already truncated marketing process.  In short, they
did everything possible to curtail all efforts to bring fair,
reasonable value to creditors.

"Since relocating American Apparel to Los Angeles in the late
1990's from South Carolina I was bucking conventional wisdom by
trying to preserve American manufacturing jobs and keep apparel
manufacturing in the United States.  Even though everyone else was
moving jobs offshore, I was able to build and grow a profitable
apparel business by manufacturing domestically.  At every step
along the way people challenged me and said I was crazy for trying.
American Apparel was one of the only companies that shattered the
sweatshop paradigm by paying fair wages, and did so at scale.  By
the time American Apparel went public in 2007, it was running the
largest operating apparel manufacturing plant in the United
States.

"For these endeavors I remain justifiably proud.

"There was logic to the company's unconventional business strategy
as evidenced by the company's historic earnings.

"Until I was removed as CEO, the company had posted positive EBITDA
(earnings before interest, taxes, depreciation and amortization) in
nine of the last ten years."

"There were many other things that we did differently at American
Apparel, besides manufacturing domestically, in which we were ahead
of the times.

"Whether it was deploying RFID technology in our retail stores,
fulfilling e-commerce orders direct from retail stores, or opening
stores in emerging neighborhoods before they were recognized as
attractive retail markets (just a few examples among many), we were
often ahead of the curve.

"It was because our organization respected and celebrated
creativity and unorthodox thinking that we were so successful, and
I was committed to protecting this spirit of contrarian thinking.

"When the Company's board removed me as CEO in June 2014, I was
midway through what was shaping up to be a successful recalibration
of American Apparel's business.  The process of my
disenfranchisement ultimately resulted in a wealth transfer from
the Company's shareholders, vendors, and employees to hedge funds,
lawyers, and bankers.

"The company was rebounding from a catastrophic distribution center
shift implemented by the former CFO and was on track to post a
positive operating profit in the second quarter of 2014, and on
track to hit its earnings guidance for the year of $40 million
EBITDA.

"With the company's bonds trading down because of the uncertainty
around the success of the turnaround, I believe I was pushed out as
CEO because of pressure that the bondholders exerted on the
company's then CFO and board of directors (As I have alleged in my
litigation, I maintain the view that the then CFO, John Luttrell,
conspired to sell the company behind my back and to that end
disenfranchised me as a shareholder during the June 2014 annual
meeting by way of a misleading and fraudulent proxy).

"The resolute goal of the bondholders was to sell the company so
they could profit, but I had to be pushed out of the way since I
was the company's largest shareholder.

"I was not willing to give up, and I attempted to regain control of
the company because of my concerns that the company was still in a
very vulnerable position with its turnaround not yet complete.

"I feared, with good reason, that the new management, not
understanding what made American Apparel successful in the first
place, would try to run the company in a more "conventional"
manner.

"Because the board and new management did not appreciate that a
vertically integrated domestic manufacturer had to approach
business in a fundamentally different fashion, I felt that the
company's future was in serious jeopardy if they ran it like a
traditional retailer.  For this reason, I entered into a
partnership with the hedge fund, Standard General, to regain
control of the company.  I could have assembled a coalition of
shareholders to force a change at the board level, but given the
urgency of the situation, I decided to surrender part of my
economic interest in the company to regain control quickly.

"When Standard General did not deliver on their promises to
reinstall me as CEO by late summer 2014, even though they had
appointed new directors constituting a majority of the board,
Standard General said I could buy them out of their investment.
When I showed up with investors to do precisely this, they said
that they could only support a go-private transaction for the
entire company.

"In December 2014, a private equity firm offered $1.30-$1.40 per
share to take the company private.  The board rebuffed this offer
as well, as offering inadequate value to shareholders for a company
they said was worth much more.  Instead, the board pursued a path
where only a year later the shareholders are receiving zero.  The
offer that I made in conjunction with Hagan Capital to purchase the
company was just one in a long list of offers, and there was no
reason to believe that this one would end any differently, given
the powerful forces steering the company towards a reorganization
where the bondholders end up owning the company.  While many
parties close to me feared that this would be the outcome of my
partnership with Standard General, even they could not fathom such
a reversal.

"While outside observers might not yet appreciate it, I believe the
path being followed by the company's management is a road to ruin.
The financial results of plummeting sales and EBITDA thus far
support this.  Management attempts to explain away their abysmal
financial performance, as the result of inadequate liquidity, but
the truth is that they misunderstand the unique business model that
American Apparel must pursue as a vertically integrated domestic
manufacturer.

"Their losses are self-inflicted, the result of poor decisions,
made by executives who are learning as they go.  Part of me can
scarcely believe that a court could confirm their plan as feasible
given the operating performance of the business under their
management and 18 months into their turnaround plan.

"But while the bondholders are likely to be put in a position to
throw good money after bad for consciously pursuing this path, I
worry for the manufacturing workers and the business community who
are the collateral damage to this corporate drama.

"I'm proud of the creativity and innovation that American Apparel
fostered over the years.  We made important strides in the areas of
ethical manufacturing and art as they intersect with commerce.

"The sad reality is that American Apparel, the largest garment
manufacturer in the United States, will not survive at this pace
and I don't believe the current management has the talent to bring
it back to health.

"At the end of this saga, I, like the many former stockholders,
will most likely be left with nothing.  Despite that, what gives me
great optimism are the things I possess that can't be stolen by a
predatory hedge fund -- my ideas, values, drive, authenticity,
integrity and my passion.  To that end I ask that my supporters
stay tuned."

                    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.


AMERICAN APPAREL: Former CEO Assails "Faithless" Board in Court
---------------------------------------------------------------
Steven Church, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that Dov Charney accused the board of American Apparel
Inc. and its investors of conspiring to kick him out of the
clothing company he founded and keep him from retaking control.

According to the report, Mr. Charney took the witness stand on Jan.
21 in Delaware bankruptcy court in an effort to derail the
retailer's reorganization plan in favor of one that would put him
back in charge.  

The report related that Mr. Charney began his testimony by
describing how he built the business known for its racy ads,
made-in-U.S.A. clothing and T-shirt slogans that championed causes
such as immigrants' rights.  He quickly moved on to attack the
investors and company insiders who he claimed moved to fire him so
they could take over, the report related.

"It was very hard to get past a board that was completely
faithless," Mr. Charney said, the report related.

U.S. Bankruptcy Judge Brendan Shannon heard two days of testimony
in Wilmington to help him decide whether to approve American
Apparel's reorganization plan, the report said.  Judge Shannon said
he will rule Jan. 25, 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.

                           *     *     *

The Plan will allow the Debtors to strengthen their balance sheet
by converting over $200 million of Prepetition indebtedness into
Reorganized American Apparel Equity Interests and enabling the
Debtors to obtain a material infusion of new equity and debt
capital upon emergence that will permit the Debtors to exit
bankruptcy protection expeditiously and with sufficient liquidity
to implement their business plan.  In addition, the Plan will
provide distributions to general unsecured creditors in the form
of units in a litigation trust and, to each class of general
unsecured creditors that accepts the Plan, a portion of a $1
million cash payment.

The GUC Payment will be divided as follows:

   -- $10,000 for GUCs against American Apparel, Inc.
   -- $517,000 for GUCs against American Apparel (USA), LLC
   -- $470,000 for GUCs against American Apparel Retail, Inc.
   -- $1,000 for GUCs against American Apparel Dyeing & Finishing
   -- $1,000 for GUCs against KCL Knitting, LLC
   -- $1,000 for GUCs against Fresh Air Freight, Inc.

Parties who support the Plan include 100% of the lenders under the
Prepetition ABL Facility, holders of over 95% in amount of the
Prepetition Notes, and lenders under the Lion Credit Facility and
the UK Loan.


AMERICAN APPAREL: Wins Approval of Ch. 11 Reorganization Plan
-------------------------------------------------------------
Lillian Rizzo, writing for Dow Jones' Daily Bankruptcy Review,
reported that a bankruptcy judge on Jan. 25 approved the chapter 11
exit plan for American Apparel Inc., handing the retailer over to
its bondholders and ending former Chief Executive Dov Charney's
hope of regaining control of the company he founded.

According to the report, Judge Brendan Shannon approved the plan
following a two-day hearing last week in U.S. Bankruptcy Court in
Wilmington, Del., where the court heard the testimony of Paula
Schneider, American Apparel's current CEO and Mark Weinsten, the
retailer's chief restructuring officer.

                      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.


ASPECT SOFTWARE: S&P Lowers CCR to 'CCC-', Outlook Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Phoenix-based Aspect Software Inc. by two notches to
'CCC-' from 'CCC+'.  The outlook is negative.

At the same time, S&P lowered its issue-level rating on the
company's $445 million first lien term loan and $30 million
revolving credit facility by two notches to 'CCC' from 'B-'.  The
'2' recovery rating is unchanged, indicating S&P's expectation for
substantial recovery (70%-90%; lower half of the range) for lenders
in the event of a payment default.  S&P also lowered its
issue-level rating on the second lien notes by two notches to 'CC'
from 'CCC' based on a '5' recovery rating, indicating S&P's
expectation for modest recovery (10%-30%; lower half of the range)
in the event of a payment default.

"The downgrade reflects our view that Aspect's refinancing risk has
escalated because a majority of the company's capital structure
comes due in less than six months," said Standard & Poor's credit
analyst Kenneth Fleming.

The negative outlook reflects the company's substantial refinancing
risk, ongoing weak free cash flow, and S&P's view that Aspect's
credit profile depends on unanticipated significantly favorable
events to avoid default.



ATHLACTION HOLDINGS: S&P Revises Outlook to Neg. & Affirms 'B' CCR
------------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Dallas-based Athlaction Holdings LLC to negative from stable and
affirmed the 'B' corporate credit rating.

At the same time, S&P affirmed its 'B+' issue-level rating on the
company's first-lien term loan maturing 2020 and revolving credit
facility.  The recovery rating remains '2', indicating S&P's
expectation of substantial (70% to 90%; lower half of the range)
recovery in the event of a payment default.  S&P also affirmed its
'CCC+' issue-level rating on the second-lien term loan maturing
2021.  The '6' recovery rating remains unchanged and indicates
S&P's expectation of negligible (0% to 10%) recovery in the event
of payment default.

The outlook revision on Athlaction primarily reflects slowing
EBITDA growth over the last 12 months.  This slower EBITDA growth
resulted from revenue challenges, specifically a negative currency
impact from the stronger U.S. dollar, competitive challenges to its
Lanyon business, and moderating attendance at some of its managed
endurance races.  Additionally, the company experienced workforce
disruption following its relocation to Dallas from San Diego after
the leveraged buyout in 2013, particularly among its sales staff.
Finally, Athlaction incurred higher-than-expected restructuring
costs in 2015, which Standard & Poor's includes in our calculation
of adjusted EBITDA.

S&P could lower the rating if leverage remains above the mid-7x
area or FOCF is less than 3.5% of debt over the next year.

S&P could revise the outlook back to stable if it observes
improvement in the company's FOCF generation and operations,
particularly its Lanyon business.  S&P believes debt to EBITDA in
the low-7x area and FOCF above 5% of debt on a sustained basis
could support a stable outlook.



ATLANTIC & PACIFIC: Has Court OK to Reject 160 East Lease
---------------------------------------------------------
The Great Atlantic & Pacific Tea Company, et al., sought authority
from the United States Bankruptcy Court for the Southern District
of New York to reject an unexpired lease of commercial real
property located at 160 East 125th Street, in New York, pursuant to
a stipulation and agreement with the landlord under the Lease, 160
East 125th Owner, LLC.

Rainbow USA, Inc., as subtenant under a sublease of a portion of
the property with one of the debtors, A&P Real Property, LLC, as
sublessor objected to the motion, which also provided for rejection
of the Sublease.

In a Memorandum Decision dated dated January 6, 2016, which is
available at http://is.gd/OKBzPIfrom Leagle.com, Judge Robert D.
Drain of the United States Bankruptcy Court for the Southern
District of New York granted the Debtors' motion and denied
Rainbow's objection to the extent set forth in the Court's November
13, 2015 order.

The case is In re THE GREAT ATLANTIC & PACIFIC TEA COMPANY, INC.,
et al., Chapter 11, Debtors, Case No. 15-23007 (RDD), (Jointly
Administered)(Bankr. S.D.N.Y.).

The Great Atlantic & Pacific Tea Company, Inc., Debtor, is
represented by:

         Garrett A. Fail,Esq.
         Ray C. Schrock, Esq.
         WEIL, GOTSHAL & MANGES LLP
         767 Fifth Avenue
         New York, New York 10153
         Telephone: (212) 310-8000
         Facsimile: (212) 310-8007
         Email: garrett.fail@weil.com
                ray.schrock@weil.com

The Official Committee of Unsecured Creditors, Creditor Committee,
is represented by Robert J. Feinstein, Esq. --
rfeinstein@pszjlaw.com -- Pachulski Stang Ziehl & Jones LLP.

                      About Atlantic & Pacific

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

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

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

As of Feb. 28, 2015, the Debtors reported total assets of $1.6
billion and liabilities of $2.3 billion.

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

Judge Robert D. Drain of the U.S. Bankruptcy Court for the
Southern
District of New York issued an order directing joint
administration
of the Chapter 11 cases of The Great Atlantic & Pacific Tea
Company, Inc., and its debtor affiliates under lead case no.
15-23007.


ATLANTIC CITY, NJ: Considers Bankruptcy as Aid Package Vetoed
-------------------------------------------------------------
Alex Wolf at Bankruptcy Law360 reported that Atlantic City is
facing renewed fears of bankruptcy after New Jersey Gov. Chris
Christie on Jan. 19, 2016, refused to sign off on a package of
bills promoted to stabilize the city's faltering economy, according
to the mayor, who said the city will be forced into bankruptcy
without urgent municipal funding.

The package of legislation turned down on Jan. 19, was anchored by
A3981, calling for a payment-in-lieu-of-taxes, or PILOT, plan
exempting city casinos from paying property taxes for 15 years in
order to stabilize the town's fiscal health.


ATLANTIC CITY, NJ: Manager Suggests Privatizing Fire Department
---------------------------------------------------------------
Hilary Russ at Reuters reported that Atlantic City' emergency
manager said the distressed New Jersey gambling hub should consider
privatizing its fire-fighting services and convention center and
find ways to make more money off its drinking water utility.

The city's updated fiscal rescue plan report comes one year after
Governor Chris Christie appointed Kevin Lavin as emergency manager.
Mr. Lavin's report, which also calls for additional layoffs,
follows an initial assessment last March.

New Jersey taxpayers have so far spent $2.62 million on Mr. Lavin
and his team of accountants, restructuring lawyers and a mediator,
according to invoices obtained and reviewed by Reuters through
public records requests.

He said the city should consider privatizing the entertainment and
sports arena Boardwalk Hall and should regionalize municipal
services, including police.

The city is facing tough odds.  Its school district is projecting a
budget deficit of up to $55 million in fiscal 2017.

Atlantic City also has at least $190 million of casino tax appeals
and other unbonded debt. In part because of that, the city's
"ability to raise public funds in order to repay the unbonded debt
is highly unlikely," the report said.


ATLANTIC CITY: Officials to Talk Possibility of Bankruptcy
----------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reported that Atlantic City
officials have formally given notice of a special meeting on Jan.
26, 2016, to consider the possibility of bankruptcy, which the
mayor says must be explored because of New Jersey Gov. Chris
Christie's refusal to sign rescue legislation for the
municipality.

In a statement on Jan. 21, announcing the emergency meeting of the
city council, Mayor Don Guardian said the state has failed to
deliver on its promises and that Atlantic City has "done everything
we can," including cooperating with an emergency manager Christie
appointed for the municipality.


ATP OIL: Insurer Owes Contractor Defense, Court Rules
-----------------------------------------------------
Peter Hayes, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that a pollution exclusion clause in a contractor's
insurance policy doesn't bar a duty to defend a suit if the
pollutants that resulted in injuries to an employee of the
contractor may have been brought to the work site by the
contracting company for use by the contractor, a federal bankruptcy
court ruled Jan. 20.

According to the report, coverage would be barred if the contractor
brought the pollutants to the work site and they were present in
connection with the contractor's operations, the U.S. Bankruptcy
Court for the Southern District of Texas said.  Because the
underlying complaint didn't specify who brought the pollutants to
the site, there is a potential claim covered by the policy, which
triggers the insurer's duty to defend, the court said, the report
related.

ATP Oil & Gas Corp. hired Greystar Corp. to supply personnel and
equipment for hydrocarbon development, the report further related.
The agreement required Greystar to defend and indemnify ATP for
claims involving bodily injury to Greystar employees sustained
while working for ATP, the report added.

                           About ATP Oil

Houston, Texas-based ATP Oil & Gas Corporation is an international
offshore oil and gas development and production company focused in
the Gulf of Mexico, Mediterranean Sea and North Sea.

ATP Oil & Gas filed a Chapter 11 petition (Bankr. S.D. Tex. Case
No. 12-36187) on Aug. 17, 2012.  Attorneys at Mayer Brown LLP,
serve as bankruptcy counsel.  Munsch Hardt Kopf & Harr, P.C., is
the conflicts counsel.  Motley Rice LLC and Fayard & Honeycutt,
APC serve as special counsel.  Opportune LLP is the financial
advisor and Jefferies & Company is the investment banker.

Kurtzman Carson Consultants LLC is the claims and notice agent.

ATP disclosed assets of $3.6 billion and $3.5 billion of
liabilities as of March 31, 2012.  Debt includes $365 million on a
first-lien loan where Credit Suisse AG serves as agent.  There is
$1.5 billion on second-lien notes with Bank of New York
MellonTrust Co. as agent.  ATP's other debt includes $35 million
on
convertible notes and $23.4 million owing to third parties for
their shares of production revenue.  Trade suppliers have claims
for $147 million, ATP said in a court filing.

An official committee of unsecured creditors has been appointed in
the case.  Evan R. Fleck, Esq., at Milbank, Tweed, Hadley &
McCloy, in New York, represents the Creditors Committee as
counsel.

A seven-member panel of equity security holders has also been
appointed in the case.  Kyung S. Lee, Esq., and Charles M. Rubio,
Esq. of Diamond McCarthy LLP, in Houston, Texas, serve as counsel
to the Equity Committee.

Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, issued an order on June 26,
2014, converting ATP Oil & Gas Corporation's Chapter 11 case to
one under Chapter 7 of the Bankruptcy Code.


AZIZ CONVENIENCE: Court OKs Munsch Hardt as Environmental Counsel
-----------------------------------------------------------------
Aziz Convenience Stores, LLC sought and obtained permission from
the U.S. Bankruptcy Court for the Southern District of Texas to
employ Munsch Hardt Kopf & Harr, P.C. as special environmental
counsel, effective June 26, 2015.

Pursuant to the Court's approved sale process, bids from interested
buyers are due to the Debtor by July 15, 2015 and an auction will
be conducted on July 20, 2015. During the due diligence process,
the stalking horse bidder has identified certain environmental
issues on which the Debtor needs the advice of experienced
counsel.

Kevin M. Lippman, shareholder of Munsch Hardt, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Munsch Hardt can be reached at:

       Kevin M. Lippman, Esq.
       MUNSCH HARDT KOPF & HARR, P.C.
       500 N. Akard St., Ste 3800
       Dallas, TX 75201-6659
       Tel: (214) 855-7553
       E-mail: klippman@munsch.com

                       About Aziz Convenience

Aziz Convenience Stores, L.L.C., owned 28 convenience stores with
gas pumps in Texas.  Aziz also claimed to be the beneficial owner
of a 205.888 acre real property in Hidalgo County, Texas, which was
purchased by its principal, Dagoberto G. Trevino, using Aziz's
funds.

Aziz Convenience Stores filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Tex. Case No. 14-70427) in its hometown in McAllen,
Texas, on Aug. 4, 2014.

The Debtor tapped Okin & Adams LLP as general bankruptcy counsel
and Douglas J. Brickley and The Claro Group, LLC as Chief
Restructuring Officer and financial advisors.  The Debtor also
engaged Keen as its investment banker to market the Debtor's assets
for sale or refinancing.  Additionally, the Debtor hired Wick
Phillips Gould & Martin, LLP and Munsch Hardt Kopf & Harr, P.C., as
special counsel.


BBEAUTIFUL LLC: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: BBeautiful, LLC, a California limited liability company
           dba Chrislie Formulations
        1361 Mountain View Circle
        Azusa, CA 91702

Case No.: 16-10799

Chapter 11 Petition Date: January 22, 2016

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

Judge: Hon. Ernest M. Robles

Debtor's Counsel: Steven Werth, Esq.
                  SULMEYERKUPETZ
                  333 S Hope St, 35th Flr
                  Los Angeles, CA 90071
                  Tel: 213-617-5210
                  Fax: 213-629-4520
                  Email: swerth@sulmeyerlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $100,000 to $500,000

The petition was signed by Helga Arminak, operating manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/cacb16-10799.pdf


BERNARD L. MADOFF: NY Court Won't Revive Investor Suit Against KPMG
-------------------------------------------------------------------
Cara Salvatore at Bankruptcy Law360 reported that a New York
appeals court has shut down litigation accusing auditing houses
KPMG International and KPMG U.K. of committing derelictions of duty
while working with Madoff Securities International Ltd., agreeing
with a trial judge on Jan. 19, 2016, that New York courts had no
jurisdiction over the non-U.S. entities.

An Appellate Division panel agreed with Judge Richard Lowe that New
York courts didn't have jurisdiction over the claims because any
harms did not occur in New York.  The units allegedly helped Madoff
further his fraud through their accounting work.

                     About Bernard L. Madoff

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

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

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

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

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


BIOLIFE SOLUTIONS: Terminates Chief Operating Officer
-----------------------------------------------------
BioLife Solutions, Inc., terminated the employment of Joe
Annicchiarico as the Company's chief operating officer.  The
Company anticipates that it will pay Mr. Annicchiarico three
months' salary as severance pay.

                       About BioLife Solutions

Bothell, Washington-based BioLife Solutions, Inc., develops and
markets patented hypothermic storage and cryo-preservation
solutions for cells, tissues, and organs, and provides contracted
research and development and consulting services related to
optimization of biopreservation processes and protocols.

BioLife Solutions reported a net loss of $3.30 million on $6.19
million of total revenue for the year ended Dec. 31, 2014, compared
with a net loss of $1.08 million on $8.94 million of total revenue
during the prior year.

As of Sept. 30, 2015, the Company had $13.2 million in total
assets, $2.44 million in total liabilities and $10.78 million in
total shareholders' equity.


BRANTLEY LAND: Case Dismissal Hearing Continued to March 10
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Georgia
continued until March 10, 2016, the hearing to consider the motion
to dismiss the Chapter 11 case of Brantley Land & Timber Company,
LLC, or, in the alternative, for relief from stay by State Bank and
Trust Company.

As reported in the Troubled Company Reporter on Nov. 20, 2015,
State Bank and Trust Company filed a motion to dismiss the
bankruptcy case of the Debtor alleging that there is no useful
bankruptcy purpose served by the case.

SB&T asserted that the Debtor now owns no lots in a development of
over twelve hundred, that SB&T's assigned mortgage payments are
diminishing, and that SB&T's remaining cash collateral is being
rapidly consumed by professional fees.

In the alternative, SB&T asked the Court to modify the Automatic
Stay regarding SB&Ts remaining security interests in the real
estate development property securing its loan and regarding its
cash collateral pursuant to the loan documents and applicable
non-bankruptcy law in effect as of the date the Court orders
modification of the automatic stay, including but not limited to
foreclosure of SB&Ts interests therein, determination of any
deficiency, the filing of appropriate claims, and other rights and
remedies available to SB&T under both bankruptcy and non-bankruptcy

law;. There is no available equity in SB&Ts collateral for the
benefit
of the estate and the bank is not adequately protected.

SB&T also asked the Court for permission to file an amended
unsecured claim in the bankruptcy case.

Further, SB&T requested that all unearned and unawarded funds
currently in the Chapter 11 Trustee attorney's account on retainer
should be returned to the Trustee's Account, and that the Chapter
11 Trustee then disburse all funds in the Trustee's Account to
SB&T.

                       About Brantley Land

Brantley Land & Timber Company, LLC, a real estate developer in
Brantley County, Georgia, has filed a Chapter 11 bankruptcy
petition (Bankr. S.D. Ga. Case No. 15-20584) in Brunswick,
Georgia, on July 16, 2015.

The Debtor, which is controlled by the receiver, tapped McCallar
Law Firm as counsel.

The U.S. Trustee for Region 21 is not attempting to form a
committee of unsecured creditors in the Chapter 11 case of the
Debtor, at this time.


BRUNSWICK: Moody's to Retain Ba1 CFR on Acquisition of Cybex
------------------------------------------------------------
Moody's Investors Service said Brunswick's (Ba1 positive)
announcement that it acquired Cybex International, Inc. for $195
million is credit positive as it slightly reduces leverage, but
more importantly it strengthens Brunswick's Life Fitness business
and helps balance the cyclicality of the marine business.

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

Brunswick, headquartered in Lake Forest, Illinois, manufactures
marine engines, pleasure boats, and billiards and fitness
equipment.  Pro forma revenue for the twelve months ended October
2015 approximated $4.3 billion.



CAESARS ENT: Court Wants Examiner's Report To Be Made Public
------------------------------------------------------------
Reuters reports that U.S. Bankruptcy Judge Benjamin Goldgar on Jan.
20, 2015, said that he might dismiss Caesars Entertainment Corp.'s
Chapter 11 bankruptcy case or convert it to one under Chapter 7
liquidation if the Company insists that the results of a  
probe into whether the Company transferred its most profitable
properties to new owners before filing to reorganize under Chapter
11 remain sealed.

The Company has denied junior bondholders' allegation that the
pre-bankruptcy transfer of valuable casinos and properties was
designed to create a "good Caesars" that would keep returning
profits to its private equity owners and a "bad Caesars" doomed to
bankruptcy, Reuters relates.

Reuters recalls that Judge Goldgar ordered in March 2015 an
independent probe into the allegation, but as the investigation
nears its close, the attorney for examiner Richard Davis told the
Bankruptcy Court on Jan. 20 that the Company and its unit had asked
for the report to be filed under seal.

Reuters quoted Judge Goldgar as saying, "You can't have a
bankruptcy process dependent on an examiner's report (. . .) on the
theory that the report will then allow everyone to walk away
smiling and holding hands and then object to it ever being
released."

Judge Goldgar, according to Reuters, agreed to allow a redacted
version of the report, which could be ready by the end of February,
but ordered Mr. Davis to go back to the drawing board for a
procedure to release the full report.

Citing three sources with direct knowledge of the talks, Josh
Kosman at New York Post relates that the examiner's report is
likely to conclude there was a degree of civil fraud connected to
the transfer.

                   About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,
is one of the world's largest casino companies.  Caesars casino
resorts operate under the Caesars, Bally's, Flamingo, Grand
Casinos, Hilton and Paris brand names.  The Company has its
corporate headquarters in Las Vegas.  Harrah's announced its
re-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 have signed the Amended
and Restated Restructuring Support and Forbearance Agreement,
dated as of Dec. 31, 2014, among Caesars Entertainment, CEOC and
the Consenting Creditors.  As a result, The RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10% second lien notes in the company, filed an involuntary
Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case
No. 15-10047) on Jan. 12, 2015.  The bondholders are represented
by Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor
LLP.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Delaware Bankruptcy Judge Kevin Gross entered a ruling that the
bankruptcy proceedings will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois.

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.

The U.S. Trustee has appointed seven noteholders to serve in the
Official Committee of Second Priority Noteholders and nine members
to serve in the Official Unsecured Creditors' Committee.

The U.S. Trustee appointed Richard S. Davis as Chapter 11
examiner.

On February 5, 2015, U.S. Trustee Patrick Layng appointed nine
creditors to the Debtors' official committee of unsecured
creditors.  Two of these creditors -- the Board of Levee
Commissioners for the Yazoo Mississippi Delta and MeehanCombs
Global Credit Opportunities Master Fund LP -- resigned from the
committee following their appointment.  They were replaced by the
National Retirement Fund and Relative Value-Long/Short Debt, a
Series of Underlying Funds Trust.


CAESARS ENTERTAINMENT: Judge Rips Attys. for Phone Use at Hearings
------------------------------------------------------------------
Jessica Corso at Bankruptcy Law360 reported that an Illinois
federal judge expressed concern on Jan. 20, 2015, with the many
Kirkland & Ellis LLP attorneys present at Caesars' bankruptcy
hearings, saying he'd grant the firm's latest $13.7 million fee
request even though he wasn't entirely sure that some of its
attorneys weren't just passing the time on their smartphones.
"There are an awful lot of Kirkland & Ellis attorneys at these
meetings," U.S. Bankruptcy Judge Benjamin Goldgar said at the
latest omnibus hearing in the Chapter 11 case of Caesars
Entertainment Operating Co.

                   About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,
is one of the world's largest casino companies.  Caesars casino
resorts operate under the Caesars, Bally's, Flamingo, Grand
Casinos, Hilton and Paris brand names.  The Company has its
corporate headquarters in Las Vegas.  Harrah's announced its
re-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 have signed the Amended
and
Restated Restructuring Support and Forbearance Agreement, dated as
of Dec. 31, 2014, among Caesars Entertainment, CEOC and the
Consenting Creditors.  As a result, The RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10% second lien notes in the company, filed an involuntary
Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case
No. 15-10047) on Jan. 12, 2015.  The bondholders are represented
by
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor LLP.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Delaware Bankruptcy Judge Kevin Gross entered a ruling that the
bankruptcy proceedings will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois.

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.

The U.S. Trustee has appointed seven noteholders to serve in the
Official Committee of Second Priority Noteholders and nine members
to serve in the Official Unsecured Creditors' Committee.

The U.S. Trustee appointed Richard S. Davis as Chapter 11
examiner.

On Feb. 5, 2015, U.S. Trustee Patrick Layng appointed nine
creditors to the Debtors' official committee of unsecured
creditors.  Two of these creditors -- the Board of Levee
Commissioners for the Yazoo Mississippi Delta and MeehanCombs
Global Credit Opportunities Master Fund LP -- resigned from the
committee following their appointment.  They were replaced by the
National Retirement Fund and Relative Value-Long/Short Debt, a
Series of Underlying Funds Trust.


CAESARS ENTERTAINMENT: Judge Says Make Report Public or Chapter 7
-----------------------------------------------------------------
Tracy Rucinski at Reuters reported that a U.S. judge on Jan. 20,
2016, opened the door to dismissing the $18 billion Caesars
bankruptcy case unless parties find a way to make public results of
a probe into whether the casino operator transferred its most
profitable properties to new owners before filing to reorganize
under Chapter 11.

If Caesars insists that the report remain sealed, U.S. Bankruptcy
Judge Benjamin Goldgar said he might dismiss the bankruptcy case,
or convert it from Chapter 11 reorganization to a Chapter 7
liquidation "which would be a hoot."

In March, Goldgar ordered an independent investigation into
creditor accusations that Caesars Entertainment Corp had stripped
its casino operating unit of its best assets.

As the investigation nears its close, a lawyer for examiner Richard
Davis said in court on Jan. 20, 2016, that Caesars and its unit had
asked for the report, which contains some 7 million pages, to be
filed under seal.  Judge Goldgar was furious.

"You can't have a bankruptcy process dependent on an examiner's
report (...) on the theory that the report will then allow everyone
to walk away smiling and holding hands and then object to it ever
being released," Judge Goldgar said.

He agreed to allow a redacted version of the report, which could be
ready by the end of February, to be filed temporarily alongside a
public summary, but told the examiner to go back to the drawing
board for a procedure to release the full report.

Junior bondholders allege that the pre-bankruptcy transfer of
valuable casinos and properties was designed to create a "good
Caesars" that would keep returning profits to its private equity
owners and a "bad Caesars" that was doomed to bankruptcy.  Caesars
has denied the allegations.

The examiner's report is considered a major hurdle for Caesars to
gain the support of bitter bondholders for its restructuring plan,
which envisions splitting the bankrupt unit into a casino operator
and a property company.

                   About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,
is one of the world's largest casino companies.  Caesars casino
resorts operate under the Caesars, Bally's, Flamingo, Grand
Casinos, Hilton and Paris brand names.  The Company has its
corporate headquarters in Las Vegas.  Harrah's announced its
re-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 have signed the Amended
and
Restated Restructuring Support and Forbearance Agreement, dated as
of Dec. 31, 2014, among Caesars Entertainment, CEOC and the
Consenting Creditors.  As a result, The RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10% second lien notes in the company, filed an involuntary
Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case
No. 15-10047) on Jan. 12, 2015.  The bondholders are represented
by
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor LLP.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Delaware Bankruptcy Judge Kevin Gross entered a ruling that the
bankruptcy proceedings will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois.

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.

The U.S. Trustee has appointed seven noteholders to serve in the
Official Committee of Second Priority Noteholders and nine members
to serve in the Official Unsecured Creditors' Committee.

The U.S. Trustee appointed Richard S. Davis as Chapter 11
examiner.

On Feb. 5, 2015, U.S. Trustee Patrick Layng appointed nine
creditors to the Debtors' official committee of unsecured
creditors.  Two of these creditors -- the Board of Levee
Commissioners for the Yazoo Mississippi Delta and MeehanCombs
Global Credit Opportunities Master Fund LP -- resigned from the
committee following their appointment.  They were replaced by the
National Retirement Fund and Relative Value-Long/Short Debt, a
Series of Underlying Funds Trust.


CAESARS ENTERTAINMENT: Status Hearing Held on Bid to Disqualify K&E
-------------------------------------------------------------------
The Hon. A. Benjamin Goldgar of the U.S. Bankruptcy Court for the
Northern District of Illinois has issued an order:

     (A) construing the motion of the second lien noteholders
         committee seeking to reconsider the retention of
         Kirkland & Ellis LLP as counsel for Caesars
         Entertainment Operating Co. Inc. and its debtor-
         affiliates as a motion to revoke the firm's retention,

     (B) narrowing the issues on the motion, and

     (C) permitting limited discovery.  

According to the order, the issues on the motion are narrowed as
follows:

     (1) what advice did the firm give the CEOC board meeting on
         Aug. 3, 2014, and

     (2) whether that advice shows that the firm is not
         disinterested as Section 327(a) of the Bankruptcy Code
         requires.

The Committee is permitted to take discovery on its motion limited
to the two conferences calls mentioned in the Committee's reply
preceding the August 3 board meeting, the August 3 board meeting
itself, the original minutes of the meeting, the creation of the
revised minutes, the approval of the revised minutes, and any
communications about the New York action between the firm and the
two law firms acknowledged to have been involved in the decision to
the file the action.

The motion was scheduled for further status to Jan. 20, 2016, at
1:30 p.m.

As previously reported by the Troubled Company Reporter, the
noteholders committee is seeking to block the firm from
representing the Debtor, alleging that a prominent attorney with
the firm concealed a potential conflict.

In November 2015, Kirkland released a statement denying claims of
the junior bondholders committee that the firm's James Sprayregen
concealed conflicts that should have disqualified the firm from
representing CEOC.

A Bloomberg News report in November said the noteholders group
wants the Bankruptcy Court to reconsider its order approving the
firm's employment because the noteholder committee "recently
discovered that testimony offered by Kirkland in support of that
application was incomplete and misleading."  Bloomberg News'
Stephanie Cumings reported that at the heart of the dispute are
some 50 transactions that took place before the bankruptcy that are
now the subject of several lawsuits pending in New York and
Delaware that were initiated by the noteholders. "Depending on
one's point of view, these transactions were intended either to
increase liquidity and provide [the debtor] with badly needed
capital or to loot [the debtor] of valuable assets, transferring
them to [the parent] and related companies," the report related.

CEOC retained Kirkland in July 2014, and the committee alleges that
Kirkland led an investigation into the 50 challenged transactions.
The noteholders say this investigation revealed that the debtor had
"received insufficient consideration" for the transfers and they
were therefore "constructively fraudulent," the Bloomberg report
further related.  Despite these findings, the debtor and its parent
company, Caesars Entertainment Corporation, filed suit in New York
in August 2014 against various creditors seeking a declaration that
the companies had "not breached their fiduciary duties or engaged
in fraudulent transfers, or otherwise engaged in any violation of
law," the report added.

                   About Caesars Entertainment

Caesars Entertainment Corp., formerly Harrah's Entertainment Inc.,
is one of the world's largest casino companies.  Caesars casino
resorts operate under the Caesars, Bally's, Flamingo, Grand
Casinos, Hilton and Paris brand names.  The Company has its
corporate headquarters in Las Vegas.  Harrah's announced its
re-branding to Caesar's in mid-November 2010.

In January 2015, Caesars Entertainment and subsidiary Caesars
Entertainment Operating Company, Inc., announced that holders of
more than 60% of claims in respect of CEOC's 11.25% senior secured
notes due 2017, CEOC's 8.5% senior secured notes due 2020 and
CEOC's 9% senior secured notes due 2020 have signed the Amended and
Restated Restructuring Support and Forbearance Agreement, dated as
of Dec. 31, 2014, among Caesars Entertainment, CEOC and the
Consenting Creditors.  As a result, The RSA became effective
pursuant to its terms as of Jan. 9, 2015.

Appaloosa Investment Limited, et al., owed $41 million on account
of 10% second lien notes in the company, filed an involuntary
Chapter 11 bankruptcy petition against CEOC (Bankr. D. Del. Case
No. 15-10047) on Jan. 12, 2015.  The bondholders are represented by
Robert S. Brady, Esq., at Young, Conaway, Stargatt & Taylor LLP.

CEOC and 172 other affiliates -- operators of 38 gaming and resort
properties in 14 U.S. states and 5 countries -- filed Chapter 11
bankruptcy petitions (Bank. N.D. Ill.  Lead Case No. 15-01145) on
Jan. 15, 2015.  CEOC disclosed total assets of $12.3 billion and
total debt of $19.8 billion as of Sept. 30, 2014.

Delaware Bankruptcy Judge Kevin Gross entered a ruling that the
bankruptcy proceedings will proceed in the U.S. Bankruptcy Court
for the Northern District of Illinois.

Kirkland & Ellis serves as the Debtors' counsel.  AlixPartners is
the Debtors' restructuring advisors.  Prime Clerk LLC acts as the
Debtors' notice and claims agent.  Judge Benjamin Goldgar presides
over the cases.

The U.S. Trustee has appointed seven noteholders to serve in the
Official Committee of Second Priority Noteholders and nine members
to serve in the Official Unsecured Creditors' Committee.

The U.S. Trustee appointed Richard S. Davis as Chapter 11
examiner.

On February 5, 2015, U.S. Trustee Patrick Layng appointed nine
creditors to the Debtors' official committee of unsecured
creditors.  Two of these creditors -- the Board of Levee
Commissioners for the Yazoo Mississippi Delta and MeehanCombs
Global Credit Opportunities Master Fund LP -- resigned from the
committee following their appointment.  They were replaced by the
National Retirement Fund and Relative Value-Long/Short Debt, a
Series of Underlying Funds Trust.


CARDIAC SCIENCE: Files Bankruptcy Rule 2015.3 Periodic Report
-------------------------------------------------------------
Cardiac Science Corp. filed a report on the value, operations and
profitability, as of Sept. 30, 2015, of these companies in which it
holds a substantial or controlling interest:

   Companies                              Interest of the Estate  
   ---------                              ----------------------  
   Cardiac Science International A/S               100%
   Cardiac Science UK Limited                      100%
   Cardiac Science France S.A.S.                   100%
   Cardiac Science Japan K.K.                      100%
   Cardiac Science Italy S.R.L.                    100%
   Cardiac Science Deutschland GMBH                100%
   Cardiac Science Medical Device Co. Ltd.          66%

The company filed the report pursuant to Bankruptcy Rule 2015.3.
The report is available for free at http://is.gd/OUo9YD

                        About Cardiac Science

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

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

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

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

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

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

Judge Robert D. Martin presides over the case.

In October 2015, the Office of the U.S. Trustee appointed seven
creditors to the official committee of unsecured creditors.  The
committee is represented by Freeborn & Peters LLP.


CASH STORE: CCAA Court Enters Plan Sanction Order
-------------------------------------------------
Regional Senior Justice G.B. Morawetz of the Ontario Superior Court
of Justice, Commercial List, in Canada entered an order approving
the Plan of Compromise for The Cash Store Financial Services Inc.,
et al., pursuant to Section 6 of the Companies' Creditors
Arrangement Act, R.S.C. 1985, c. C-36.

The Senior Secured Lenders have voted unanimously in favor of the
Plan; and 102 Secured Noteholders with voting claims representing
88% in number and 93% in value of voting claims, have voted in
favor of the Plan.

The CCAA Plan is supported by FTI Consulting Canada Inc., the
court-appointed monitor of Cash Store et al.; the CRo, the Ad Hoc
Committee, the Ontario Consumer Class Action Plaintiffs, the
Western Canada Consumer Class Action Plaintiffs, DirectCash, the
Directors and Officers (the "D&Os") and the Insurers, who are party
to a series of global settlements implemented in connection with
the Plan.  The settlements will bring about significant additional
recoveries for a broad range of stakeholders of the Applicants.

At the commencement of the CCAA proceedings, the Applicants were
capitalized mainly by (i) a C$12 million Senior Secured Credit
Facility and C$132.5 million of Second Lien Secured Notes.

During the CCAA proceeding, the Applicants engaged in asset sale
transactions with National MIOney Mart Company, easyfinancial
Services, Inc., and CSF Asset Management Ltd.  The asset sales
resulted in sales of substantially all of the Applicants'
realizable assets and brought C$54.3 million in to the estate.  The
proceeds are currently held by the Monitor and the remaining asset
sale proceeds will be sufficient to pay (i) the remaining amounts
outstanding under the DIP Credit Facility, and (ii) the First Lien
Lenders in respect of the Senior Secured Debt but will not be
sufficient to repay (iii) the holders of the Applicants' Second
Lien Secured Notes.

Since the completion of the Assets Sales, the Applicants have been
engaged in minimal ongoing operational activities with the focus of
their efforts being on the orderly wind-down of the remaining
business assets and the resolution of outstanding claims asserted
(i) against the Applicants by various stakeholders, and (ii) by the
Applicants against certain third party defendants.

Together with the Ad Hoc Committee of Secured Noteholders and the
Monitor, the Applicants were engaged in negotiations with various
litigation claimants and other interested parties.  The
negotiations resulted in various settlement agreements, which will
increase the recoveries available to the Applicants' stakeholders.
Pursuant to the settlement Agreements, these additional recoveries
became available:

  (a) Under the Priority Motion Settlement - C$3.4 million;

  (b) Under the DirectCash Global Settlement - C$14.5 million;
      and

  (c) Under the D & O / Insurer Global Settlement - C$19 million.

A copy of the Ontario Court's Plan Sanction Order is available for
free at:

    http://bankrupt.com/misc/Cash_Store_18_Plan_Sanction_Order.pdf

A copy of FTI's filing of the written reasons entered by the
Ontario Court on Nov. 20, 2015 for the Endorsement it released on
Nov. 19, 2015 in connection with its Plan Sanction Order is
available for free at:

   
http://bankrupt.com/misc/Cash_Store_19_FTI_Plan_Sanction_Order.pdf

FTI Consulting filed the twentieth report of the Monitor, dated
October 27, 2015 and the twenty-first report of the Monitor dated
Nov. 16, 2015.  Copies of the reports are available for free at:

    http://bankrupt.com/misc/Cash_Store_14_20th_Report_Monitor.pdf
    http://bankrupt.com/misc/Cash_Store_15_21st_Report_Monitor.pdf

Attorney for FTI Consulting Canada Inc., as Monitor and Foreign
Representative of The Cash Store Financial Services Inc., can be
reached at:

         ALLEN & OVERY LLP
         Ken Coleman
         1221 Avenue of the Americas
         New York, NY 10020
         Tel: (212) 610-6300
         Fax: (212) 610-6399
         E-mail: ken.coleman@allenovery.com

                   About Cash Store Financial

Cash Store Financial and Instaloans primarily act as lenders to
facilitate short-term advances and provide other financial services
to income-earning consumers who may not be able to obtain them from
traditional banks.  Cash Store Financial also provides
private-label debit cards.

Cash Store Financial is not affiliated with Cottonwood Financial
Ltd. or the outlets Cottonwood Financial Ltd. operates in the
United States under the name "Cash Store".  Cash Store Financial
does not do business under the name "Cash Store" in the United
States and does not own or provide any consumer lending services in
the United States.

Cash Store Financial reported a net loss and comprehensive loss of
C$35.5 million for the year ended Sept. 30, 2013, as compared with
a net loss and comprehensive loss of C$43.5 million for the year
ended Sept. 30, 2012.  As of Sept. 30, 2013, the Company had C$165
million in total assets, C$166 million in liabilities, and a C$1.32
million shareholders' deficit.

FTI Consulting Canada Inc., the court-appointed monitor and
authorized foreign representative of Cash Store, filed under
Chapter 15 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
15-12813) on Oct. 16, 2015.  Cash Store estimated assets in the
range of $50 million to $100 million and liabilities of more than
$100 million.

Judge Michael E. Wiles presides over the Debtor's case.

Kenneth P. Coleman, Esq., at Allen & Overy LLP, represents FTI
Consulting.

The Debtor estimated assets between $50 million and $100 million,
and debts of between $100 million and $500 million.


CASH STORE: U.S. Court Signs Chapter 15 Recognition Order
---------------------------------------------------------
Judge Michael E. Wiles of the U.S. Bankruptcy Court for the
Southern District of New York entered an order recognizing the
restructuring proceedings of The Cash Store Financial Services
Inc., et al., under the Companies' Creditors Arrangement Act,
R.S.C. 1985, c. C-36, pending before the Ontario Superior Court of
Justice, Commercial List, in Canada.

FTI Consulting Canada Inc., the CCAA court-appointed monitor of
Cash Store et al., sought recognition of the Canadian case in
accordance with Chapter 15 of the U.S. Bankruptcy Code.

"The Canadian Proceeding is hereby recognized as a foreign main
proceeding pursuant to Section 1517(b)(1) of the Bankruptcy Code,
and all relief under Section 1520 of the Bankruptcy Code shall
apply in this case," Judge Wiles ruled.

"The releases contained in sections 7.1 (c), (d), (f), (g) and (n)
of the Plan as contemplated by D&O/Insurer Global Settlement
Agreement, and the injunctions contained in section
7.3 of the Plan, as approved by the Plan Sanction Order, are hereby
given full force and effect in the United States pursuant to
sections 105, 1507 and 1521 of the Bankruptcy Code; provided,
however, that nothing in this order shall operate to enjoin the
exercise of any police or regulatory power by a governmental unit
or to release any claim based on the exercise of such police or
regulatory power, including the enforcement of a judgment other
than a monetary judgment, obtained in an action or proceeding by a
governmental unit to enforce such governmental unit's police or
regulatory power[.]"

                          Settlement

Cash Store commenced the ancillary Chapter 15 cases in order to
expedite the implementation of a plan of compromise and arrangement
under the CCAA and permit distributions to creditors at the
earliest possible date.  

As reported in the Oct. 19, 2015 edition of the TCR, together with
the Ad Hoc Secured Noteholders Committee and the Monitor, the Cash
Store Applicants have engaged in negotiations with various
litigation claimants and other interested parties in an effort to
resolve (i) numerous claims made against the Cash Store Applicants
and their assets and (ii) numerous claims made by the Cash Store
Applicants against third party defendants.

The plaintiffs in the Securities Class Actions, the plaintiffs in
the Consumer Class Actions, Cash Store, and the D&Os, entered a
settlement agreement on Sept. 22, 2015, following two mediations
before the Honorable Mr. George Adams, a retired Justice of the
Ontario Superior Court of Justice.  Pursuant to the D&O/Insurer
Global Settlement Agreement, the D&Os will pay a total of
C$19,033,333 allocated as follows:

   (i) C$4,875,000 to settle the claims asserted by the
       Securities Class Action Plaintiffs against the D&Os on
       behalf of the Cash Store Applicants' shareholders;

  (ii) C$8,904,167 to settle the claims asserted by the
       Securities Class Action Plaintiffs against the D&Os on
       behalf of the Secured Noteholders;

(iii) C$1,437,500 to settle the claims asserted by the Ontario
       Consumer Class Action Plaintiffs against the D&Os;

  (iv) C$1,066,666 to settle the claims asserted by the Western
       Canada Consumer Class Action Plaintiffs against the D&Os;
       and  

   (v) C$2,750,000 to settle the claims asserted by the Cash
       Store Applicants against the D&Os, in exchange for the
       releases provided therein.

                             The Plan

The Cash Store Applicants have formulated the Plan which has the
support of the Monitor, the Ad Hoc Secured Noteholders Committee
(representing approximately 70% of the Secured Noteholders), the
Senior Secured Lenders, the Securities Class Action Plaintiffs, the
Consumer Class Action Plaintiffs, and the other parties to the
Settlements.  The purpose of the Plan is to, among other things,
(i) distribute proceeds of the Cash Store Applicants assets to
their secured creditors according to their priorities, (ii) provide
a central forum for the distribution of proceeds from the
Settlements to various stakeholders according to their interests
and entitlements, (iii) give effect to the releases contemplated
for the Released Parties in exchange for the settlement payments
made by those parties under the Settlements, and (iv) position the
Cash Store Applicants to continue pursuing the Remaining Estate
Claims for the benefit of stakeholders.

Two classes of Affected Creditor Claims are contemplated under the
Plan: (i) the Senior Lender Class, comprising the Senior Secured
Lenders, and (ii) the Secured Noteholder Class, comprising the
Secured Noteholders.  Only Affected Creditors are entitled to
attend and vote on the Plan.  The Plan provides the following
treatment for these classes:

   The Senior Lender Class.  Each Senior Secured Lender with an
   Allowed Senior Secured Credit Agreement Claim will receive
   payment in full of the outstanding principal owed to them plus
   accrued interest to the date of implementation of the Plan,
   less certain amounts to be paid as part of the Settlements.

   The Secured Noteholder Class.  Each Secured Noteholder will
   receive its pro rata share of the Cash Store Applicants' cash
   on hand following the payment to the Senior Lender Class and
   less certain reserves and other payments set forth in the
   Plan.  Each Secured Noteholder will also be entitled to its pro
   rata share of any proceeds recovered by the Cash Store
   Applicants following the implementation of the Plan, whether
   received by the Cash Store Applicants from the Remaining Estate

   Claims, tax refunds, reversions of the reserves or otherwise,
   to be distributed on a subsequent distribution date.

In the event that there are sufficient funds to pay the Secured
Noteholder Class in full, excess amounts will revert to the Cash
Store Applicants for distribution pursuant to a further order from
the Ontario Court.  In addition, the Plan provides for proceeds of
the Settlements to be allocated and distributed to the Consumer
Class Action Plaintiffs and the Securities Class Action Plaintiffs
under the terms of the Settlements.  

Certain categories of claims are Unaffected Claims which will not
be affected by or receive distributions under the Plan.  Unaffected
Claims are generally any claims other than the Senior Secured
Credit Agreement Claims, the Secured Noteholder Claims and the
Released Claims, including without limitation, all unsecured
claims.

                   About Cash Store Financial

Cash Store Financial and Instaloans primarily act as lenders to
facilitate short-term advances and provide other financial
services
to income-earning consumers who may not be able to obtain them
from
traditional banks.  Cash Store Financial also provides
private-label debit cards.

Cash Store Financial is not affiliated with Cottonwood Financial
Ltd. or the outlets Cottonwood Financial Ltd. operates in the
United States under the name "Cash Store".  Cash Store Financial
does not do business under the name "Cash Store" in the United
States and does not own or provide any consumer lending services
in
the United States.

Cash Store Financial reported a net loss and comprehensive loss of
C$35.5 million for the year ended Sept. 30, 2013, as compared with
a net loss and comprehensive loss of C$43.5 million for the year
ended Sept. 30, 2012.  As of Sept. 30, 2013, the Company had C$165
million in total assets, C$166 million in liabilities, and a
C$1.32
million shareholders' deficit.

FTI Consulting Canada Inc., the court-appointed monitor and
authorized foreign representative of Cash Store, filed under
Chapter 15 of the Bankruptcy Code (Bankr. S.D.N.Y. Case No.
15-12813) on Oct. 16, 2015.  Cash Store estimated assets in the
range of $50 million to $100 million and liabilities of more than
$100 million.

Judge Michael E. Wiles presides over the Debtor's case.

Kenneth P. Coleman, Esq., at Allen & Overy LLP, represents FTI
Consulting.

The Debtor estimated assets between $50 million and $100 million,
and debts of between $100 million and $500 million.


CLIFFS NATURAL: Hibbing Gets Mine Safety Order at Minnesota Plant
-----------------------------------------------------------------
Hibbing Taconite Company, the operations of which are managed by a
wholly-owned subsidiary of Cliffs Natural Resources Inc., received
an order from MSHA at the Company's plant in Minnesota regarding a
welder observed on a piece of equipment in an elevated position
without fall protection.  The welder came down from the elevated
position, and the Order was subsequently terminated.

The condition cited in the Order did not result in an accident or
injury and is not expected to have a material adverse impact on the
Company's operations at the mine.

Section 1503(b)(1) of the Dodd-Frank Act requires the disclosure on
a Current Report on Form 8-K of the receipt of an imminent danger
order under section 107(a) of the Federal Mine Safety and Health
Act of 1977 issued by the Mine Safety and Health Administration.

                    About Cliffs Natural Resources

Cliffs Natural Resources Inc. --
http://www.cliffsnaturalresources.com/-- is a mining and natural
resources company.  The Company is a major supplier of iron ore
pellets to the U.S. steel industry from its mines and pellet plants
located in Michigan and Minnesota.  Cliffs also produces
low-volatile metallurgical coal in the U.S. from its mines located
in West Virginia and Alabama.  Additionally, Cliffs operates an
iron ore mining complex in Western Australia and owns two
non-operating iron ore mines in Eastern Canada.  Driven by the core
values of social, environmental and capital stewardship, Cliffs'
employees endeavor to provide all stakeholders operating and
financial transparency.

On Jan. 27, 2015, Bloom Lake General Partner Limited and certain of
its affiliates, including Cliffs Quebec Iron Mining ULC commenced
restructuring proceedings in Montreal, Quebec, under the Companies'
Creditors Arrangement Act (Canada).  The initial CCAA order will
address the Bloom Lake Group's immediate liquidity issues and
permit the Bloom Lake Group to preserve and protect its assets for
the benefit of all stakeholders while restructuring and sale
options are explored.

The Company reported a net loss of $8.31 billion in 2014 following
net income of $362 million in 2013.

As of Sept. 30, 2015, the Company had $2.27 billion in total
assets, $4.03 billion in total liabilities and a $1.75 billion
total deficit.

                          *    *     *

As reported by the TCR on Feb. 3, 2015, Standard & Poor's Ratings
Services said it lowered its corporate credit rating on Cliffs
Natural Resources Inc. to 'B' from 'BB-'.  The downgrade of
Cleveland-based Cliffs Natural Resources is driven by a revision
of the company's financial risk profile to "highly leveraged" from
"aggressive" as a result of S&P's lowered iron ore price
assumptions.  The 24% cut to $65 per metric ton marked the
third downward revision since early 2014, when S&P's forecast
prices were more than $100 per metric ton.

The TCR reported on Jan. 8, 2016, that Moody's Investors Service
downgrade Cliffs Natural Resources Inc. Corporate Family Rating and
Probability of Default Rating to Caa1 and Caa1-PD from B1 and B1-PD
respectively.  The downgrade reflects the deterioration in the
company's debt protection metrics and increase in leverage as a
result of continued downward movement in iron ore prices and weak
fundamentals in the US steel industry, which are resulting in lower
shipment levels.


CONGREGATION BIRCHOS: Taps Allen Kolber as Counsel
--------------------------------------------------
Congregation Birchos Yosef seeks authorization from the Hon. Robert
D. Drain of the U.S. Bankruptcy Court for the Southern District of
New York to employ the Law Offices of Allen A. Kolber, Esq. as
counsel.

The Debtor requires the Kolber firm to assist, advise and represent
the Debtor with respect to:

   (a) the protection and preservation of the Debtor's estate,
       including the prosecution of actions on the Debtor's
       behalf, and the preparation of objections to claims filed
       against the estate;

   (b) the preparation on behalf of the Debtor, as Debtor-in-
       Possession, all necessary motions, applications, answers,
       orders, reports and papers in connection with the
       administration of the estate;

   (c) the negotiation and preparation on behalf of the Debtor of
       its Chapter 11 Plan, Disclosure Statement, and all related
       documents;

   (d) the representation of the Debtor in connection with any
       sales, leases, or other uses of property of the estate and
       all other legal issues in connection therewith; and

   (e) the performance of all other necessary legal services in
       connection with the Chapter 11 case.

Kolber will be paid at these hourly rates:

       Counsel             $450
       Paralegal           $125

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

Kolber received a retainer fee in the amount of $25,000 on Nov. 10,
2015 from Zalman Rosenberger, an independent person not affiliated
with the Debtor.

Allen Kolber assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

Kolber can be reached at:

       Allen A. Kolber, Esq.
       LAW OFFICES OF ALLEN A. KOLBER, ESQ.
       134 Route 59, Suite A
       Suffern, NY 10901
       Tel: (845) 918-1277
       Fax: (845) 369-1618
       E-mail: aKolber@Kolberlegal.com

                   About Congregation Birchos Yosef

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

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

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

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

                           *     *     *

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

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


CORNERSTONE HOMES: Court Allows Cash Collateral Use Up To Jan. 31
-----------------------------------------------------------------
Judge Paul R. Warren of the U.S. Bankruptcy Court for the Western
District of New York, authorized the Chapter 11 Trustee of
Cornerstone Homes, Inc., to use cash collateral through Jan. 31,
2016.

The cash collateral will be used to pay past due real estate taxes,
maintenance and repair expenses, as well as professional fees,
among others.

First Citizens, CPC and ESB will be entitled to the following
adequate protection payments with respect to any diminution in the
value of cash collateral in which they respectively assert an
interest:

     (a) $25,000 per month, payable to First Citizens;
     (b) $47,000 per month, payable to CPC; and,
     (c) $3,390 per month, payable to ESB.

                     About Cornerstone Homes

Cornerstone Homes Inc. is based in Corning, New York and is
engaged
in the business of buying, selling and leasing single family homes
in the State of New York, with such properties primarily located
in
the South Central and South Western portions of the State.

Cornerstone Homes Inc. filed a Chapter 11 petition (Bankr.
W.D.N.Y.
Case No. 13-21103) on July 15, 2013, in Rochester alongside a
reorganization plan already accepted by 96 percent of unsecured
creditors' claims.

The Debtor disclosed assets of $18.6 million and liabilities of
$36.2 million.  Four secured lenders with $21.8 million in claims
are to be paid in full under the plan.  Unsecured creditors --
chiefly noteholders with $14.5 million in claims -- will have a 7
percent recovery.

Judge Paul R. Warren presides over the case.  Curtiss Alan
Johnson,
Esq., and David L. Rasmussen, Esq., at Davidson Fink, LLP, in
Rochester, N.Y., serve as the Debtor's counsel.  The Debtor has
tapped GAR Associates to appraise a selection of its properties to
support the Debtor's liquidation analysis.

The Official Committee of Unsecured Creditors is represented by
Gregory J. Mascitti, Esq., at LeClairRyan PC.  The Committee
retained Getzler Henrich & Associates LLC as financial advisor.

Cornerstone Homes Inc. delivered to the Bankruptcy Court a First
Amended Plan of Reorganization and explanatory Disclosure
Statement
on Jan. 3, 2014.  The Amended Plan supersedes the Plan Cornerstone
prepared prior to filing for bankruptcy.  The Debtor intends to
liquidate properties over a period of time, so as to achieve
maximum recovery for the creditors while avoiding a deleterious
effect on the housing market.  The Plan provides for a
distribution
of $1 million as an Unsecured Distribution Amount.  
Owner David Fleet will pledge up to $1 million to fund
distributions under the Plan.  It also provides for the
distribution of the stock in the Reorganized Debtor to holders of
Allowed Unsecured Noteholder Claims under Class 5.  The Class 5
Claimants are expected to receive 7% plus distribution of stock on
the Distribution Date.  The Claimants are impaired and entitled to
vote on the Plan.

No hearing was slated to consider the Amended Plan documents.
Instead, the Court accepted the request of the Committee to
appoint
a Chapter 11 trustee to replace management.  The Court approved
the
appointment of Michael H. Arnold, Esq., as Chapter 11 trustee.  He
is represented by his law firm, Place and Arnold as his counsel.

Michael H. Arnold, Chapter 11 trustee, is represented by the firm
of Place and Arnold.  LeClairRyan and Barclay Damon LLP serve as
his special counsel.


CUI GLOBAL: Clear Harbor Holds 5.2% Equity Stake as of Dec. 31
--------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Clear Harbor Asset Management, LLC disclosed that as of
Dec. 31, 2015, it beneficially owns 1,025,907 shares of common
stock of CUI Global Inc. representing 5.25 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/Ttbwzx

                       About CUI Global

Tualatin, Ore.-based CUI Global, Inc., formerly known as Waytronx,
Inc., is a platform company dedicated to maximizing shareholder
value through the acquisition, development and commercialization
of new, innovative technologies.

CUI Global reported a consolidated net loss of $2.80 million in
2014, a consolidated net loss of $943,000 in 2013 and a
consolidated net loss of $2.52 million in 2012.

As of Sept. 30, 2015, the Company had $91.20 million in total
assets, $30.10 million in total liabilities and $61.10 million in
total stockholders' equity.


DETROIT, MI: Taubitz's Plan Appeal Dismissed as Equitably Moot
--------------------------------------------------------------
The City of Detroit, Michigan, filed a motion seeking dismissal of
the appeal of Dennis Taubitz and Irma Industrious as equitably and
constitutionally moot.

All three factors of the equitable mootness analysis weigh in favor
of dismissing the appellants' appeal as moot: the appellants did
not obtain a stay; the confirmed Plan has been substantially
consummated; and reversal of the Plan would adversely impact third
parties and the success of the Plan, Senior Judge Bernard A.
Friedman of the United States District Court for the Eastern
District of Michigan, Southern Division, found.  Accordingly, Judge
Friedman granted the Appellee's Motion to Dismiss the Appeal As
Equitably and Constitutionally Moot.

The appeals case is DENNIS TAUBITZ and IRMA INDUSTRIOUS,
Appellants, v. CITY OF DETROIT, MICHIGAN, et al., Appellees, CASE
NO. 14-CV-14917 (E.D. Mich.).

The bankruptcy case is captioned In re CITY OF DETROIT, MICHIGAN,
Debtor, NO. 13-53846 (Bankr. E. D. Mich.).

A full-text of the Opinion and Order dated September 29, 2015 is
available at http://is.gd/nN1hXofrom Leagle.com.

Dennis Taubitz, Appellant, Pro Se.

Irma Industrious, Appellant, represented by Irma E. Industrious.

Appellees, represented by Bruce Bennett, Esq. --
bbennett@jonesday.com -- Jones Day, Jonathan S. Green, Esq. --
greenj@millercanfield.com -- Miller, Canfield, Beth Heifetz, Esq.
-- bheifetz@jonesday.com -- Jones Day & Heather Lennox, Jones Day,
Sam J. Alberts, Esq. -- sam.alberts@dentons.com -- Dentons US LLP,
Robert D. Gordon, Esq. -- rgordon@clarkhill.com -- Clark Hill, Ryan
C. Plecha, Esq. -- rplecha@lippittokeefe.com -- Lippitt O'Keefe,
PLLC.

                About the City of Detroit

The City of Detroit, Michigan, weighed down by more than $18
billion in accrued obligations, sought municipal bankruptcy
protection on July 18, 2013, by filing a voluntary Chapter 9
petition (Bankr. E.D. Mich. Case No. 13-53846).  Detroit estimated
more than $1 billion in both assets and debts.

Kevyn Orr, who was appointed in March 2013 as Detroit's emergency
manager, signed the petition.  Detroit is represented by lawyers
at Jones Day and Miller Canfield Paddock and Stone PLC.

Michigan Governor Rick Snyder authorized the bankruptcy filing.

The filing makes Detroit the largest American city to seek
bankruptcy, in terms of population and the size of the debts and
liabilities involved.

The City's $18 billion in debt includes $5.85 billion in special
revenue obligations, $6.4 billion in post-employment benefits,
$3.5 billion for underfunded pensions, $1.13 billion on secured
and unsecured general obligations, and $1.43 billion on pension-
related debt, according to a court filing.  Debt service consumes
42.5 percent of revenue.  The city has 100,000 creditors and
20,000 retirees.

Detroit is represented by David G. Heiman, Esq., and Heather
Lennox, Esq., at Jones Day, in Cleveland, Ohio; Bruce Bennett,
Esq., at Jones Day, in Los Angeles, California; and Jonathan S.
Green, Esq., and Stephen S. LaPlante, Esq., at Miller Canfield
Paddock and Stone PLC, in Detroit, Michigan.

Sharon Levine, Esq., at Lowenstein Sandler LLP, is representing
the American Federation of State, County and Municipal Employees
and the International Union.

Babette Ceccotti, Esq., at Cohen, Weiss & Simon LLP, is
representing the United Automobile, Aerospace and Agricultural
Implement Workers of America.

A nine-member official committee of retired workers appointed in
the case is represented by Dentons US LLP.  Lazard Freres & Co.
LLC serves as the Retiree Committee's financial advisor.

Detroit filed a notice that the effective date of its
bankruptcy-exit plan occurred on Dec. 10, 2014.  Judge Steven
Rhodes on Nov. 12, 2014, entered an order confirming the Eighth
Amended Plan for the Adjustment of Debts of the City of Detroit.

Thomas Tucker, a federal bankruptcy judge since 2003, took over
Detroit's landmark bankruptcy case following the retirement of
Judge Rhodes.


DISTRICT AT MCALLEN: City Bank Withdraws Bid to Appoint Trustee
---------------------------------------------------------------
City Bank Texas notified the U.S. Bankruptcy Court for the Southern
District of Texas that it has withdrawn its motion to appoint a
Chapter 11 trustee for District at Mcallen, LP.

City Bank, in its motion, alleged that the Debtor has grossly
mismanaged the property by, among other things, allowing tenant
occupancy to decline that the value of property has left the Debtor
and its creditors exposed.  The Debtor, City Bank added, has failed
to collect and remit rents necessary to remain current on tax
obligations.

City Bank stated that an independent chapter 11 trustee would have
the ability to manage the property, analyze the Debtor's books and
records, make demands on the tenants for any outstanding rents due,
market the property for sale, if necessary, and communicate with
the Debtor's creditors regarding a course of action the trustee
deems to be in creditors' best interests.

As of the Petition Date, City Bank was owed no less than
$5,268,653, excluding accrued but unpaid interest and fees payable
under the Note, Deed of Trust and related loan documents.

City Bank is represented by:

         Aaron M. Kaufman, Esq.
         Mark E. Andrews, Esq.
         DYKEMA COX SMITH
         1201 Elm Street, Suite 3300
         Dallas, Texas 75270
         Tel: (214) 698-7800
         Fax: (214) 698-7899
         E-mails: mandrews@dykema.com
                  akaufman@dykema.com

                   About The District at McAllen, LP

Dr. Ernesto Ramirez filed an involuntary Chapter 11 bankruptcy
petition against McAllen, Texas-based The District at McAllen LP
(Bankr. S.D. Tex., Case No 14-70661) on Dec. 2, 2014.  The
petitioner's counsel is Nathaniel Peter Holzer, Esq., at Jordan
Hyden Womble Culbreth & Holzer PC.

The Debtor disclosed total assets of $3,390,434 and total
liabilities of $9,911,548.


DOMARK INTERNATIONAL: Tonaquint Has 9.9% Stake as of Jan. 22
------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission on Jan. 22, 2016, Tonaquint, Inc., et al., disclosed
that they beneficially own 204,358 shares of common stock of
Domark International Inc. representing 9.99 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/N8fSTc

                  About Domark International

Based in Lake Mary, Florida, DoMark International, Inc., was
incorporated under the laws of the State of Nevada on March 30,
2006.  The Company was formed to engage in the acquisition and
refinishing of aged furniture using exotic materials and then
reselling it through interior decorators, high-end consignment
shops and online sales.  The Company abandoned its original
business of exotic furniture sales in May of 2008 and pursued the
acquisition of entities to best bring value to the company and its
shareholders.

For the nine months ended Feb. 28, 2015, the Company reported a net
loss of $1.86 million on $0 of sales compared to a net loss of
$2.34 million on $0 of sales for the same period a year ago.

As of Nov. 30, 2015, the Company had $1.24 million in total assets,
$3.66 million in total liabilities, all current, and a $2.42
million total stockholders' deficit.


DOMINION RESOURCES TRUST: Auditor Expresses Going Concern Doubt
---------------------------------------------------------------
Deloitte & Touche LLP, in its Nov. 23, 2015 letter to the unit
holders of Dominion Resources Black Warrior Trust (trust) and
Southwest Bank, N.A., in its capacity as trustee, expressed
substantial doubt about the trust's ability to continue as a going
concern.  The firm reviewed the condensed statement of assets,
liabilities and trust corpus of the trust as of September 30, 2015,
and the related condensed statements of distributable income (loss)
for the three-month and nine-month periods ended September 30, 2015
and 2014 and changes in trust corpus for the nine-month periods
ended September 30, 2015 and 2014.

Deloitte & Touche noted that "certain conditions raise substantial
doubt about the trust's ability to continue as a going concern."

Ron E. Hooper, senior vice president of Royalty Trust Management,
Southwest Bank, in a November 23, 2015 regulatory filing with the
U.S. Securities and Exchange Commission, related: "Contingencies
related to the underlying properties owned by Walter Black Warrior
Basin LLC, as successor to Dominion Black Warrior Basin, Inc. (the
company) that are unfavorably resolved would generally be reflected
by the trust as reductions to future royalty income payments to the
trust with corresponding reductions to cash distributions to
Unitholders.  The trustee is aware of no such items as of September
30, 2015, other than as stated.

"On July 28, 2015, the trust announced that it received a letter
from Walter Energy, Inc., the parent of the company, stating that
it, together with certain of its subsidiaries and affiliates,
including the company (Debtors) filed a petition for relief under
Chapter 11 of the U.S. Bankruptcy Code with the United States
Bankruptcy Court for the Northern District of Alabama Southern
Division on July 15, 2015 and that it had an agreement with lenders
regarding a pre-negotiated restructuring plan.  In the letter,
Walter Energy, Inc. advised the trust that it is not permitted to
pay obligations that arose prior to July 15, 2015, including
payments on the royalty interests.  Specifically, the trustee was
informed by Walter Energy, Inc. that it would not be paying the
distribution to the trust that would normally be paid by August 14,
2015 and normally would include payments on the Royalty Interests
for the production months of April, May and June 2015, as well as
the portion of any future quarterly distributions relating to
production attributable to periods prior to July 15, 2015.

"On the date the bankruptcy was filed – in a series of 'first day
motions' – the Debtors filed motions relating to use of their
cash collateral and cash management, which provide that Debtors'
cash and certain other property constitute collateral of the
Debtors' lenders subject to protective liens and permit use of a
'zero balance' cash management system where receipts from
operations, including Debtors' gas operations, could be swept into
certain concentration or disbursement accounts.  The motions did
not separately segregate or provide separate treatment for
production proceeds relating to the trust's Royalty Interests.  The
trust engaged counsel, filed motions asking the court to reconsider
and amend the Debtors' cash management order and objected to the
cash collateral motion by seeking segregation of production
proceeds relating to the trust's Royalty Interests and judicial
confirmation that such proceeds are not property of the Debtor's
bankruptcy estate.  On August 18, 2015, the Bankruptcy Court denied
the trust's motion to reconsider the Debtors' cash management
order.  A hearing on the trust's objection to the Debtors' cash
collateral motion, among others, was held on September 2 and 3,
2015.  On September 14, 2015, the court issued its ruling on the
Debtors' cash collateral motion and denied the trust's request for
protections based on the Debtors' use of the production proceeds,
which included denying (i) segregation of the production proceeds
and (ii) a requirement for continued distributions of production
proceeds to the trust in the ordinary course of business.  After a
subsequent hearing to consider additional cash collateral issues,
on October 12, 2015, the trust filed a notice of appeal of the
Bankruptcy Court's cash collateral ruling, and the appeal is
currently pending.

"On October 2, 2015, the company filed a motion in the Bankruptcy
Court to reject the Conveyance whereby the royalty interests were
conveyed to the trust by the company pursuant to the overriding
royalty conveyance on June 28, 1994 (and certain related contracts)
effective retroactively to July 15, 2015.  The contracts that the
company seeks to reject create the trust's right to receive
payments on the Royalty Interests from the company.  If granted and
not reversed on subsequent appeal, the relief sought in this motion
would excuse the company from performance under the Conveyance at
all times after July 15, 2015, including payments on the Royalty
Interests.  The company's motion to reject the Conveyance was heard
on November 10, 2015.  At that time, the Court requested written
findings of fact and conclusions from the company and the trustee
and took the matter under advisement.  The Court has not yet ruled
on the motion.

"If Walter Energy, Inc. does not pay a distribution to the trust by
December 31, 2015 representing payments on the Royalty Interests
for the production months of July, August and September 2015,
pursuant to Section 9.02(b) of the Trust Agreement, it is expected
that the trust will terminate as a result of the failure to
maintain a 1.2 to 1.0 ratio for two consecutive calendar quarters
of (i) cash received pursuant to the Royalty Interests to (ii)
administrative costs.  To date, Walter Energy, Inc. has not paid a
distribution to the trust representing payments on the Royalty
Interests for the production months of July, August and September.

"In March 2012, the company notified the trustee that it is
undertaking a study of the Underlying Properties on a well-by-well
basis to determine the economic viability of continuing to produce
each individual well.  The company informed the trustee that it
abandoned 11 wells in 2012, 11 wells in 2013 and 8 wells in 2014 as
the company considered them uneconomic and will continue to
evaluate an additional 10 to 20 wells in 2015.  It is currently
unclear what impact the bankruptcy proceeding will have on this
process.  If the company decides to suspend production or abandon
any such additional wells, such decision could adversely affect the
trust's future revenue stream, and if a significant number of wells
are abandoned, it could cause a termination of the trust.

"The trust is named as a defendant in an action, styled Southwest
Royalties, Inc. v. Dominion Black Warrior Basin, Inc., et al.,
filed in the Circuit Court of Fayette County Alabama on October 5,
2007 regarding the quieting of title in certain oil and gas rights
related to property in Fayette and Tuscaloosa Counties in Alabama.
The plaintiff alleges that defendants are knowingly producing gas
in violation of the deeds in question.  The plaintiff is also
alleging conversion of gas, continuing trespass by defendants on
the plaintiff's property, and suppression of material facts by
defendants, and the plaintiff is requesting an accounting,
injunctive relief and compensatory and punitive damages, plus court
costs and attorneys' fees.  The trustee does not believe this
litigation will have a material effect on the trust's financial
statements.

"As discussed, certain conditions raise substantial doubt about the
trust's ability to continue as a going concern."  

At September 30, 2015, the trust had total assets of $3,927,694 and
trust corpus of $3,228,542.

The distributable loss for the third quarter of 2015 was $640,050,
or a loss of $0.08 per unit, compared to distributable income for
the third quarter of 2014 of $1,574,332, or $0.20 per unit.  As a
result of rulings by the Bankruptcy Court related to the Walter
Energy bankruptcy proceeding, the trust does not anticipate making
any further distributions in 2015.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/hrd7hpb

Dominion Resources Black Warrior Trust, based in Dallas, was formed
as a Delaware business trust pursuant to a Trust Agreement of
Dominion Resources Black Warrior Trust entered into effective as of
May 31, 1994 among Dominion Black Warrior Basin, Inc., as trustor;
Dominion Resources, Inc.; and NationsBank of Texas, N.A., as the
initial trustee; and BNY Mellon Trust of Delaware as trustees.
Southwest Bank, a state bank chartered under the laws of the State
of Texas now serves as the trustee.

The trust is a grantor formed to acquire and hold certain
overriding royalty interests burdening proved natural gas
properties located in the Pottsville coal formation of the Black
Warrior Basin, Tuscaloosa County, Alabama owned by Walter Black
Warrior Basin LLC, as successor to Dominion Black Warrior Basin,
Inc.


DREIER LLP: Cosmetics Plus's Claims Unsecured, Court Rules
----------------------------------------------------------
Sheila M. Gowan, the former Chapter 11 trustee and current Plan
Administrator for the estate of Dreier LLP, objected to the
overlapping proofs of claim filed by Robin Bartosh, Toby Bartosh,
and the Cosmetics Plus Group Ltd.

The Claimants assert that they have a security interest in certain
funds that Gowan holds, or alternatively, that Gowan holds those
funds in trust for their benefit.

In a Memorandum Decision dated January 4, 2016, which is available
at http://is.gd/spkAX2from Leagle.com, Judge Stuart M. Bernstein
of the United States Bankruptcy Court for the Southern District of
New York concluded that the Claimants are, at most, unsecured
creditors.  Any superior claims to the funds acquired by the
Claimants are subject to disallowance and the claims must be
reclassified as general unsecured claims.

The Court rejected the remaining arguments of Claimants for lack of
merit.

The case is In re: DREIER LLP, Chapter 11, Debtor, Case No.
08-15051 (SMB)(Bankr. S.D.N.Y.).

Dreier LLP, Debtor, is represented by Angela Ferrante, Esq. --
angela.ferrante@gardencitygroup.com -- Garden City Group, LLC, Alan
Jay Lipkin, Esq. -- alipkin@willkie.com -- Willkie Farr & Gallagher
LLP, Sheldon Pollock, III, Esq. -- Davis Polk & Wardwell, Stephen
J. Shimshak, Esq. -- sshimshak@paulweiss.com -- Paul, Weiss,
Rifkind, Wharton & Garrison LLP.

Sheila M. Gowan, Trustee, represented by Eric Fisher, Esq. --
efisher@binderschwartz.com -- Binder & Schwartz LLP, Richard I.
Janvey, Esq. -- rjanvey@diamondmccarthy.com -- Diamond McCarthy
LLP, J. Benjamin King, Esq. -- bking@rctlegal.com -- Reid Collins &
Tsai LLP, Brandon Lewis,  Esq. -- blewis@diamondmccarthy.com --
Diamond McCarthy LLP, Stephen T. Loden,  Esq. --
sloden@diamondmccarthy.com -- Diamond McCarthy LLP, Howard D.
Ressler,  Esq. -- hressler@diamondmccarthy.com -- Diamond McCarthy
LLP, Charles Rubio,  Esq. -- crubio@diamondmccarthy.com -- Diamond
McCarthy LLP, Karen M. Scheibe, A S K Financial, LLP, Brendan M.
Scott, Esq. -- bscott@klestadt.com -- Klestadt Winters Jureller
Southard & Stevens, LLP, Joseph L. Steinfeld, Jr., Esq. --
jsteinfeld@askllp.com -- ASK LLP, Gary D. Underdahl, Esq. --
gunderdahl@askllp.com -- ASK LLP.

               About Marc Dreier and Dreier LLP

Marc Dreier founded New York-based law firm Dreier LLP --
http://www.dreierllp.com/-- in 1996. On Dec. 8, 2008, the U.S.   
Securities and Exchange Commission filed a suit, alleging that Mr.
Dreier made fraudulent offers and sales of securities in several
cities, selling fake promissory notes to hedge and other private
investment funds. The SEC asserted that Mr. Dreier also
distributed phony financial statements and audit opinions, and
recruited accomplices in connection with that scheme. Mr. Dreier,
currently in prison, was charged by the U.S. government for
conspiracy, securities fraud and wire fraud (S.D.N.Y. Case No.
09-cr-00085).

Dreier LLP sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
08-15051) on Dec. 16, 2008. Stephen J. Shimshak, Esq., at Paul,
Weiss, Rifkind, Wharton & Garrison LLP, was tapped as counsel.
The Debtor estimated assets of $100 million to $500 million, and
debts between $10 million and $50 million in its Chapter 11
petition.

Sheila M. Gowan, a partner with Diamond McCarthy, was appointed
Chapter 11 trustee for the Dreier law firm. Ms. Gowan is
represented by Diamond McCarthy LLP. Dickstein Shapiro LLP is the
trustee's special trial counsel.

Wachovia Bank National Association; the Dreier LLP Chapter 11
Trustee; and Steven J. Reisman as post-confirmation representative
of the bankruptcy estate of 360networks (USA) Inc. signed a
petition that put Mr. Dreier into bankruptcy under Chapter 7 on
Jan. 26, 2009 (Bankr. S.D.N.Y. Case No. 09-10371). Mr. Dreier
pleaded guilty to fraud and other charges in May 2009. The scheme
to sell $700 million in fake notes unraveled in late 2008.  Mr.
Dreier is serving a 20-year sentence in a federal prison in
Minneapolis.

The May 15, 2014, edition of The TCR said the Hon. Stuart M.
Bernstein of the U.S. Bankruptcy Court for the Southern District
of New York confirmed the second amended Chapter 11 plan of
liquidation filed by Sheila M. Gowan, the Chapter 11 trustee for
Dreier LLP, and the Official Committee of Unsecured Creditors.


EMPIRE RESORTS: Kien Huat Reports 71.5% Stake as of Jan. 14
-----------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Kien Huat Realty III Limited and Lim Kok Thay
disclosed that as of Jan. 14, 2016, they beneficially own
8,321,540 shares of common stock of Empire Resorts, Inc.,
representing 71.5 percent of the shares outstanding.  A copy of the
regulatory filing is available for free at http://is.gd/v4Axxl

                     About Empire Resorts

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

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

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


FOREST PARK SOUTHLAKE: GAHC3 Agrees to Provide $13M in Financing
----------------------------------------------------------------
Forest Park Medical Center at Southlake, LLC seeks authority from
the Bankruptcy Court to obtain post-petition financing of up to
$6,500,000 on an interim basis, and up to $13,000,000 on a final
basis, from GAHC3 Southlake Texas Hospital, LLC.

The Debtor anticipated that without continuing liquidity, the value
of its assets would rapidly diminish and would more than likely
require it to close down the Hospital and liquidate its assets.

"The DIP Financing is necessary to maintain the value of the
Debtor's assets, including going-concern value, and the ability to
continue its business and hospital and healthcare operations and
provide medical care to the Southlake and North Texas community,"
said Stephen M. Pezanosky, Esq., at Haynes and Boone, LLP, counsel
for the Debtor.

The Interim DIP Financing will bear interest at a non-default rate
equal to 6% per annum.  After the occurrence of an Event of
Default, the Interim DIP Financing will bear interest at a rate
equal to the Pre-Default Rate plus 4% per annum.  Interest on the
Interim DIP Financing will accrue and be payable monthly in arrears
in accordance with the DIP Note.

The Lender is granted a super-priority administrative claim with
priority equivalent to a claim under Section 364(c)(1) of the
Bankruptcy Code in an aggregate amount equal to the DIP
Obligations, which Super-Priority Claim will have priority over all
other costs and expenses of administration of any kind.

                        About Forest Park

Forest Park Medical Center at Southlake, LLC filed a Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 16-40273) on
Jan. 19, 2016.  Charles Nasem signed the petition as chief
executive officer.  The Debtor estimated both assets and
liabilities in the range of $10 million to $50 million.  Haynes and
Boone, LLP represents the Debtor as counsel.  Judge Russell F.
Nelms has been assigned the case.


FOREVERGREEN WORLDWIDE: Amends 2014 Form 10-K to Add Disclosure
---------------------------------------------------------------
Pursuant to a limited review of Forevergreen Worldwide
Corporation's reports by the Securities and Exchange Commission,
the SEC has requested that the Company amend its annual report for
the year ended Dec. 31, 2014, to expand its disclosures to quantify
and discuss in more detail the Company's increased revenues for the
2014 year.

The Company disclosed, among other things, the following:

"We recognized product revenues of $58,267,466, royalty revenues of
$5,029, and $68,927 other revenues for 2014 compared to product
revenues of $17,466,415, royalty revenues of $290,973, and $0 other
revenues for 2013.  We recognize revenue upon shipment of a sales
order.

"The Company experienced a 229% increase in revenues in 2014 over
2013 resulting from a quarter over quarter increase in revenues.
Our source of revenues is from the sale of various foods, other
natural products, member sign up fees, kits, and freight and
handling to deliver products to the members and customers.  The
FGXpress product offering was responsible for 64.0% and 89.6% of
sales, in 2013 and 2014, respectively; while The Farmer's Market
product offering represented 36.0% and 10.4% in 2013 and 2014,
respectively.  The significant increase in revenues for 2014 is
directly related to the increased number of members and their
business related to the FGXpress products which began to be
released for purchase at the end of 2012.  The FGXpress product
offering is unique to our business as it could be delivered through
the US Postal Service via First Class mail, giving the Company a
more global sales opportunity than previous products.  In 2013 we
had 36,216 active Members.  In 2014 that number jumped dramatically
to 139,077 active Members, which is a 284% increase.  This increase
very closely reflects the revenue growth of 229%.  

"Cost of sales consists primarily of the cost of procuring and
packaging products, and the cost of shipping product to our
international subsidiaries and warehouses and to our Members, plus
credit card sales processing fees.  Cost of sales was approximately
21.0% of revenues for 2014 compared to 26.7 % of revenues for 2013.
The 2014 decrease is primarily due to decreasing our product and
shipping costs.  During 2014, we were able to optimize pricing with
several key vendors.  Product costs also decreased because the
Company's sales mix was more heavily weighted towards FGX
PowerStrips.  The product and shipping costs for this product line
is lower than our other FGI product lines."

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

                      http://is.gd/4K7xKF

                  About ForeverGreen Worldwide

Orem, Utah-based ForeverGreen Worldwide Corporation is a holding
company that operates through its wholly owned subsidiary,
ForeverGreen International, LLC.  The Company's product philosophy
is to develop, manufacture and market the best of science and
nature through innovative formulations as it produces and
manufactures a wide array of whole foods, nutritional supplements,
personal care products and essential oils.

Forevergreen Worldwide reported net income of $1.02 million on
$58.3 million of net total revenues for the year ended Dec. 31,
2014, compared to net income of $117,000 on $17.8 million of net
total revenues in 2013.

As of Sept. 30, 2015, the Company had $10.4 million in total
assets, $10.6 million in total liabilities and a total
stockholders' deficit of $181,000.


FUHU HOLDINGS: Mattel Wins Auction With $21.5M Bid
--------------------------------------------------
Lindsay Blakely at Inc.com reports that Mattel has bid $21.5
million in a bankruptcy auction to win Fuhu.  According to Inc.com,
Mattel's offer beat Great White Shark Enterprises' $10 million
opening bid.  Inc.com relates that GWSE can receive a $250,000
break-up fee.

                           About Fuhu

Fuhu, Inc., and Fuhu Holdings, Inc., filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Proposed Lead Case No. 15-12465) on Dec.
7, 2015.  The petition was signed by James Mitchell as chief
executive officer.  The Debtors estimated assets in the range of
$10 million to $50 million and liabilities of $100 million to $500
million.  Pachulski Stang Ziehl & Jones LLP represents the Debtors
as counsel.  Judge Christopher S. Sontchi presides over the case.

Fuhu is headquartered in El Segundo, California, and employs
approximately 115 employees and retains one independent contractor
who work in various areas including marketing, sales, operations,
creative, technology, development and management.

Court document indicates that between 2010 and 2013, Fuhu's
revenue grew to more than $195 million in 2013.  Fuhu's array of
nabi tablets are sold in more than 10,000 retail outlets, including
Target, Best Buy, Costco Wholesale, Toys R'Us and Walmart stores.

Fuhu Moldings owns significant intellectual property assets of the
Debtors, including trademarks and copyrights.


FUHU INC: Creditor Asserts Insufficient Marketing of Assets
-----------------------------------------------------------
Jeff Montgomery at Bankruptcy Law360 reported that new objections
are threatening to short-circuit plans for a quick, $10 million
sale of bankrupt children's tablet-maker Fuhu Inc., with the
Chapter 11 estate's largest creditor saying the deal had moved
toward closure at "breakneck speed" despite moves that allegedly
violate bankruptcy rules.  Leading Fuhu supplier and creditor Hon
Hai Precision Industry Co. Ltd., said in a Delaware court document
that Fuhu had insufficiently marketed its assets before agreeing to
a privately negotiated sale.

                           About Fuhu

Fuhu, Inc. and Fuhu Holdings, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Proposed Lead Case No. 15-12465) on Dec.
7, 2015.  The petition was signed by James Mitchell as chief
executive officer.  The Debtors estimated assets in the range of
$10 million to $50 million and liabilities of $100 million to $500
million.  Pachulski Stang Ziehl & Jones LLP represents the Debtors
as counsel.  Judge Christopher S. Sontchi presides over the case.

Fuhu is headquartered in El Segundo, California, and employs
approximately 115 employees and retains one independent contractor
who work in various areas including marketing, sales, operations,
creative, technology, development and management.

Court document indicates that between 2010 and 2013, Fuhu's
revenue grew to more than $195 million in 2013.  Fuhu's array of
nabi tablets are sold in more than 10,000 retail outlets,
including
Target, Best Buy, Costco Wholesale, Toys R'Us and Walmart stores.

Fuhu Moldings owns significant intellectual property assets of the
Debtors, including trademarks and copyrights.


FUHU INC: Mattel Wins Bankruptcy Auction with $21.5-Mil. Bid
------------------------------------------------------------
Steven Church, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that Mattel Inc., the world's largest toymaker, is seeking
a judge's permission to pay $21.5 million for bankrupt Fuhu Inc., a
maker of tablet computers for children, according to court papers.

Mattel beat out a private-equity firm founded by golfer Greg Norman
with the winning bid at a court-supervised auction for the assets,
the report related.

Fuhu's bankruptcy petition included a plan to sell itself to Mattel
unless a higher bid came in, the report further related.  Norman's
GWS Fuhu LLC threatened to scuttle that deal with a bid of $10
million, $500,000 more than Mattel had said it would pay in
December, Norman's firm is entitled to a $250,000 breakup fee,
which is also subject to court approval, according to court
documents, the report added.

                           About Fuhu

Fuhu, Inc. and Fuhu Holdings, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Proposed Lead Case No. 15-12465) on Dec.
7, 2015.  The petition was signed by James Mitchell as chief
executive officer.  The Debtors estimated assets in the range of
$10 million to $50 million and liabilities of $100 million to $500
million.  Pachulski Stang Ziehl & Jones LLP represents the Debtors
as counsel.  Judge Christopher S. Sontchi presides over the case.

Fuhu is headquartered in El Segundo, California, and employs
approximately 115 employees and retains one independent contractor
who work in various areas including marketing, sales, operations,
creative, technology, development and management.

Court document indicates that between 2010 and 2013, Fuhu's
revenue grew to more than $195 million in 2013.  Fuhu's array of
nabi tablets are sold in more than 10,000 retail outlets,
including
Target, Best Buy, Costco Wholesale, Toys R'Us and Walmart stores.

Fuhu Moldings owns significant intellectual property assets of the
Debtors, including trademarks and copyrights.


GELTECH SOLUTIONS: Presented at 2016 Annual Shareholders Meeting
----------------------------------------------------------------
GelTech Solutions, Inc., gave a presentation at its 2016 Annual
Shareholders Meeting held on Jan. 22, 2016.  The PowerPoint
presentation is available for free at http://is.gd/Eenpj8

                        About GelTech

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

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

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


GRAFTECH INT'L: Moody's Lowers CFR to B3, Outlook Negative
----------------------------------------------------------
Moody's Investors Service downgraded all long-term ratings for
GrafTech International Ltd., including the Corporate Family Rating
to B3 from Ba3 and the $300 million Senior Unsecured Notes due 2020
to Caa1 from B1.  Moody's also lowered the company's Speculative
Grade Liquidity Rating to SGL-4 from SGL-3.  The rating outlook
remains negative.

Rating actions:

Issuer: GrafTech International Ltd.

  Probability of Default Rating, Downgraded to B3-PD from Ba3-PD;
  Corporate Family Rating, Downgraded to B3 from Ba3;
  Senior Secured Bank Credit Facility, Downgraded to B1(LGD2) from

   Ba2 (LGD2);
  Senior Unsecured Regular Bond/Debenture, Downgraded to Caa1
   (LGD5) from B1 (LGD5);
  Speculative Grade Liquidity Rating, Downgraded to SGL-4 from
   SGL-3; and
  Outlook, Remains Negative.

RATINGS RATIONALE

Moody's downgraded the CFR to B3 from Ba3 and SGL to SGL-4 from
SGL-3 based on the view that business conditions in the graphite
electrode industry have weakened materially over the past several
months such that GrafTech's financial performance will decline
meaningfully in 2016.  The steel industry continues to struggle
with difficult market conditions with substantive weakening in both
capacity utilization rates and pricing.  The absence of
commensurate capacity reduction in the graphite electrode industry
has exacerbated the unfavorable supply/demand balance in the
industry that likely will result in lower electrode pricing in
2016.  GrafTech has done a highly-credible job of rationalizing
facilities, reducing overhead costs, lowering inventories, and
paying down overall debt, but the magnitude of the expected decline
in financial performance likely will exceed the benefits from these
actions at least in the near-term.  While the company has several
important levers to help preserve cash amid these challenging
market conditions, Moody's expects a material increase in adjusted
financial leverage and believes that the company could breach
financial maintenance covenants as early as the second quarter of
2016.

GrafTech is a wholly-owned subsidiary of an affiliate of Brookfield
Capital Partners Ltd.  Brookfield acquired the company in a
transaction that involved an equity investment of nearly $1
billion, including the cancellation of convertible preferred stock;
reduction of GrafTech's debt by more than 25%; and including an
amendment to the company's existing credit agreement that loosened
financial maintenance covenants, significantly improving the
company's liquidity position.  Brookfield clearly has the financial
capacity to improve GrafTech's credit profile and for this reason
the company's credit ratings could be subject to unusual volatility
compared to rated peers.

The B3 CFR is constrained primarily by the challenges of trying to
navigate an extended cyclical trough in the graphite electrode
industry with a leveraged balance sheet.  GrafTech is highly
reliant on graphite electrodes for the majority of its earnings and
cash flow.  Credit metrics are weak for the rating category,
including adjusted financial leverage near 8 times (Debt/EBITDA)
and near 5 times (Debt/EBITDA; normalized for current oil prices)
for the twelve months ended Sept. 30, 2015.  The rating benefits
from the company's leading market positions within the graphite
electrode industry, solid mid-cycle profit margins supported by
three low-cost facilities, back-integration into needle coke, and
geographic and operational diversity.

The SGL-4 Speculative Grade Liquidity Rating reflects weak
liquidity to support operations based on our expectation that
GrafTech likely will require a covenant-related waivers or
amendments in 2016.  The company has a $375 million revolving
credit facility and with $70 million of drawings at September 30,
2015.  The credit agreement contains two financial maintenance
covenants: a senior secured leverage ratio test set at 5.75x (with
step-downs) and an interest coverage ratio test set at 1.50x (with
step-downs).  GrafTech reported 1.19x and 4.43x, respectively, on
these ratio tests for the twelve months ended Sept. 30, 2015.

The negative rating outlook reflects meaningful uncertainty in the
graphite electrode industry with no evident catalyst for
improvement in the near-term.  Moody's could downgrade the rating
if GrafTech does not make the adjustments necessary to put the
company on a deleveraging trajectory and restore adequate near-term
liquidity.  Moody's could upgrade the rating with expectations for
adjusted financial leverage sustained below 6 times and adequate
near-term liquidity -- including no expectation of covenant
breaches in the near-term.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 2013.

GrafTech International Ltd. manufactures graphite electrodes,
refractory products, needle coke products, advanced graphite
materials, and natural graphite products.  The company has about
195k metric tons of electrode capacity.  GrafTech is a wholly-owned
subsidiary of an affiliate of Brookfield Capital Partners Ltd.
Brookfield acquired GrafTech in a transaction that closed on Aug.
17, 2015.  Headquartered in Independence, Ohio, GrafTech generated
approximately $1.1 billion of revenue in 2014.



HAGGEN HOLDINGS: Albertsons Settles Litigation
----------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that Albertsons Cos. has settled legal quarrels with West
Coast grocer Haggen Holdings LLC, which filed for bankruptcy less
than a year after buying 146 stores from Albertsons.

According to the report, described in a filing on Jan. 22 with the
Securities and Exchange Commission, the settlement is worth up to
$14 million for Haggen's unsecured creditors, including $5.8
million in cash contributed by Albertsons.

                      About Haggen Holdings

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

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

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

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

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

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

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


HEADWATERS INCORPORATED: Moody's Raises CFR to B1, Outlook Stable
-----------------------------------------------------------------
Moody's Investors Service upgraded Headwaters Incorporated's
Corporate Family Rating to B1 from B2 and its Probability of
Default Rating to B1-PD from B2-PD based on our expectations that
the company's operating performance will continue to benefit from
domestic construction, the main driver of Headwaters' revenues,
yielding debt credit metrics more supportive of the higher rating.
In related rating actions, Moody's upgraded Headwaters' senior
secured term loan due 2022 to Ba3 from B1 and its senior unsecured
notes due 2019 to B3 from Caa1.  The Speculative Grade Liquidity
Rating of SGL-2 is affirmed.  The rating outlook is stable.

These ratings/assessments were affected by this action:

  Corporate Family Rating upgraded to B1 from B2;
  Probability of Default Rating upgraded to B1-PD from B2-PD;
  Sr. Sec. Term Loan B due 2022 upgraded to Ba3 (LGD3) from B1
   (LGD3); and,
  Sr. Unsec. Notes due 2019 upgraded to B3 (LGD5) from Caa1
   (LGD5).
  Speculative Grade Liquidity Rating of SGL-2 is affirmed.

RATINGS RATIONALE

The upgrade of Headwaters' Corporate Family Rating to B1 from B2
reflects our expectations that operating profits and cash flow
generation will continue to grow due to higher volumes and better
pricing across its businesses, resulting in debt credit metrics
supportive of the higher rating.  Over the next 12-18 months,
Moody's projects Headwaters' EBITA margins nearing 14.75% from
14.2% for FY15 ended Sept. 30, 2015.  This operational improvement
will translate into better credit metrics.  Moody's expects
interest coverage (measured as EBITA-to-interest expense)
approaching 3.75x compared to 2.7x for FY15 and debt leverage
nearing 3.25x by in the next 12-18 months from 3.6x at FY15 (all
ratios incorporate Moody's standard adjustments).  Moody's also
forecast Headwaters generating positive free cash flow throughout
the year.

Headwaters' Building Products business, from which Headwaters
derives about 58% of total revenues, will benefit from sustained
growth in new housing construction as well as repair and remodeling
end markets.  Moody's estimates new housing starts will be in the
1.2 million range for 2016, at least a 9% increase from the 2015
total of about 1.1 million new units.  Repair and remodeling
activity continues to expand, as evidenced by the National
Association of Home Builders Remodeling Market Index.  The overall
index reading of 57.6 for 4Q15 remains well above 50, indicating
end market growth.  Headwaters' Construction Materials division,
which represents about 40% of total revenues, will continue to be a
significant earnings contributor due to higher levels of spending
in both the domestic infrastructure and the commercial and
industrial end markets.  The Portland Cement Association projects
United States' cement market growing to about 92.2 million tons in
2015, a 3.5% growth over the previous year, followed by stronger
growth rates of 5.0% 2016 and 5.7% 2017.

Positive rating actions could ensue if Headwaters continues to
benefit from the strength in its end markets, resulting in
performance and more robust credit metrics that exceeds Moody's
forecasts, resulting in a better liquidity profile or the following
credit metrics supported by permanent debt reduction (ratios
include Moody's standard adjustments):

   -- EBITA-to-interest expense sustained above 3.75x (2.7x for
      FY15)
   -- Debt-to-EBITDA remaining near 3.0x (3.6x at FYE15)

Negative rating actions could occur if Headwaters operating
performance falls below Moody's expectations, resulting in the
following credit metrics (ratios include Moody's standard
adjustments) and characteristics:

   -- EBITA-to-interest expense sustained below 2.0x
   -- Debt-to-EBITDA remaining above 4.5x
   -- Deterioration in the company's liquidity profile

Headwaters Inc., headquartered in South Jordan, Utah, is a domestic
building products company.  It has mainly two lines of businesses:
Building Products and Construction Materials.  The Building
Products business manufactures and sells manufactured architectural
stone, siding accessory products, roof products and concrete block.
The Construction Materials operations market coal combustion
products, including fly ash that is primarily used as a partial
replacement for cement in concrete.  Revenues for the last 12
months through Sept. 30, 2015, totaled approximately $895 million.

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 2014.



HEALTH DIAGNOSTIC: Assets Sold to True Health, Oncimmune & Sydney
-----------------------------------------------------------------
Health Diagnostic Laboratory, Inc., et al., received approval from
the U.S. Bankruptcy Court for the Eastern District of Virginia
between September and December 2015 to sell certain key assets.

                        Sale to True Health

On June 29, 2015, the Debtors filed a motion seeking approval of
bidding procedures for selling substantially all of the Debtors'
assets.  On July 15, 2015, the Court entered an order approving the
Bidding Procedures.

On Sept. 4, 2015, the Debtors announced that they have selected
True Health Diagnostics, LLC, as the stalking horse bidder for the
purchase of the assets with an aggregate purchase price valued at
$32,000,000.

On Sept. 10, 2015, the Debtors conducted an auction for the HDL
Sale and selected True Health as the successful bidder for such
assets.

On Sept. 17, 2015, the Court entered an order approving the terms
of the HDL Sale, including the terms of the Asset Purchase
Agreement with True Health (the "HDL Purchase Agreement").  The HDL
Sale closed on Sept. 29, 2015. The consideration for the HDL Sale
consisted of, among other things, $27,100,000 less the Good Faith
Deposit and any Closing AR Adjustment (each, as defined in the HDL
Purchase Agreement), the assumption of certain assumed liabilities,
and the execution of a promissory note (the "True Health Note"),
which obligated True Health in the initial principal amount of
$10,000,000 plus Contingent Principal.

Under the True Health Note, Contingent Principal is 85% of all
collections on accounts receivable sold by HDL to True Health in
excess of the $10,000,000 initial principal amount. The True Health
Note is secured by certain accounts receivable (the "Accounts
Receivable") outstanding as of the closing of the HDL Sale.  As of
Dec. 31, 2015, True Health had paid the initial principal amount of
$10,000,000.  True Health continues to pay the Contingent Principal
amounts under the True Health Note.

In connection with the HDL Sale, HDL's lease agreement with Biotech
8 was assumed and assigned, as amended, to True Health.
Following the closing of the HDL Sale, as authorized by the HDL
Sale Order, the Debtors repaid in full their obligations under the
DIP Financing, their obligations to BB&T under the BB&T Loan
Facilities, and their obligations to BB&T Equipment Finance under
the BB&T Equipment Finance Loan Facility.  On Nov. 19, 2015, the
Court entered the Order Granting Relief from the Automatic Stay and
Allowing Unsecured Claim of Bank of the West, which addresses the
treatment of the Collateral of Bank of the West.  On Dec. 11, 2015,
the Court entered the Order Granting Relief from the Automatic Stay
and Providing Adequate Protection for PNC Equipment Finance LLC,
which addresses the treatment of the Collateral of PNC.

                       CML Sale to Oncimmune

On July 16, 2015, the Debtors filed a motion seeking approval of
bid procedures for the sale of all or substantially all of the
assets of Central Medical Laboratories, LLC.  On Aug. 3, 2015, the
Court entered an order approving the bidding procedures for the CML
Sale (the "CML Bidding Procedures").

As announced Sept. 10, 2015, the Debtors, in consultation with the
Official Committee of Unsecured Creditors, selected Oncimmune
Limited as the successful bidder for substantially all of the
assets of CML.

The Debtors later selected Oncimmune as the successful bidder for
the CML Sale.  On Sept. 17, 2015, the Court entered an order
approving the terms of the CML Sale.  The purchase price for the
CML Sale consisted of a waiver of the administrative claim of
Oncimmune Limited, an affiliate of Oncimmune, in the amount of at
least $746,875, plus $22,625 in cash, and the assumption of certain
assumed liabilities.  The CML Sale closed effective as of Sept. 22,
2015.  A copy of the CML Sale Order is available for free at:

   http://bankrupt.com/misc/Health_Diagnostic_511_CML_Sale_Ord.pdf

                      Sale of Equity Interests

On July 15, 2015, the Court approved procedures for soliciting
offers for the purchase of debtor Health Diagnostic Laboratory,
Inc.'s membership interests in HDL USA Holdings, LLC.
Simultaneously, non-debtor HDL USA Holdings, LLC was soliciting
offers for the purchase of its membership interests in Global
Genomics Group, LLC ("Equity in G3") or Grenova Holdings, LLC
("Equity in Grenova Holdings"), and non-debtor Grenova Holdings,
LLC was soliciting offers for the purchase of its membership
interests in Grenova, LLC.

The Debtors set a Nov. 9 deadline for preliminary indications of
interests, a Nov. 12 deadline for initial bids, a Nov. 16 auction
and a Nov. 18 sale hearing.

HDL USA Holdings LLC ("Seller") owned 49.5% of the issued and
outstanding membership interests of Global Genomics Group, LLC
("Company").  Health Diagnostic Laboratory Inc. ("Parent"), which
is subject to the Chapter 11 proceeding, owns all and issued and
outstanding membership interests of HDL USA.  The Company made a
revolving Promissory Note dated as of July 1, 2014, in the maximum
amount of $6 million, with a balance scheduled by Parent in the
amount of $2,183,074.  

G3 Founders, LLC ("Member") disputed the validity of the Note.
Under the LLC Agreement, HDL USA obligated itself to Member to
provide certain blood testing services to Global Genomics.  Member
asserts that Parent assumed the blood testing obligation.

HDL USA has filed a proof of claim ("POC") in the bankruptcy case
of Parent reflecting an unsecured claim in the amount of
$17,674,607, calculated as the unpaid balance due of the Blood
Testing Obligation in the amount of $19,857,681, reduced by the
Note Balance.

On Dec. 11, 2015, the Court entered an order approving the sale of
the Interest and Note to Sydney Investment Group LLC.  Pursuant to
the Asset Purchase Agreement, the aggregate purchase price to be
paid to Sydney in respect to the Interest and Note will be
$500,000, composed of the deposit plus an additional $400,000
closing payment plus the withdrawal of the POC.  A copy of the
Court's order approving the sale to Sydney is available for free
at:

http://bankrupt.com/misc/Health_Diagnostic_720_Sale_Ord_Sydney.pdf

Debtors' attorneys:

          Tyler P. Brown, Esq.
          Jason W. Harbour, 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

                      About Health Diagnostic

Health Diagnostic Laboratory, Inc., Central Medical Laboratory,
LLC, and Integrated Health Leaders, LLC, are health care businesses
based in Richmond, Virginia.  HDL is a blood testing company.

Health Diagnostic Laboratory, Inc. (Bankr. E.D. Va. Case No.
15-32919) and affiliates Central Medical Laboratory, LLC (Bankr.
E.D. Va. Case No. 15-32920) and Integrated Health Leaders, LLC
(Bankr. E.D. Va. Case No. 15-32921) filed separate Chapter 11
bankruptcy petitions on June 7, 2015.  The petitions were signed by
Martin McGahan, chief restructuring officer.  

HDL disclosed $96,130,468 in assets and $108,328,110 in liabilities
as of the Chapter 11 filing.

Justin F. Paget, Esq., Tyler P. Brown, Esq., Jason W. Harbour,
Esq., and Henry P. (Toby) Long, III, Esq. at Hunton & Williams LLP

serve as the Debtors' bankruptcy counsel.  Alvarez & Marsal is the
Debtors' financial advisor.  Robert S. Westermann, Esq., at
Hirshler Fleisher, P.C., serve as the Debtors' conflicts counsel.
American Legal Claims Services, LLC, is the Debtors' claims,
noticing and balloting agent.  Ettin Group, LLC, will market and
sell the miscellaneous equipment and other assets.  MTS Health
Partners, L.P., serves as investment banker.

To assist them with their restructuring efforts and to help
maximize the value of their estates, the Debtors filed with the
Court an application seeking entry of an order authorizing the
Debtors to retain Alvarez & Marsal Healthcare Industry Group, LLC
("A&M") to provide the Debtors with a Chief Restructuring Officer
and certain additional personnel.  Richard Arrowsmith is presently
the CRO.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  The official committee
retained Cooley LLP as its counsel and Protiviti Inc. as its
financial advisor.

                           *     *     *

On Oct. 29, 2015, the Court entered an order extending until Jan.
4, 2016, the period during which the Debtors have the exclusive
right to propose a Chapter 11 plan, and until March 3, 2016, the
exclusive period to solicit acceptances of that plan.

On Nov. 5, 2015, the Court entered an order setting Dec. 22, 2015,
as the Bar Date for the filing of all proofs of claim.

On Jan. 4, 2016, the Debtors filed a proposed Plan of Liquidation
and Disclosure Statement.  A hearing on the Disclosure Statement is
scheduled for Feb. 11, 2016.


HEALTH DIAGNOSTIC: Files Proposed Plan of Liquidation
-----------------------------------------------------
Health Diagnostic Laboratory, Inc., et al., which has sold most of
its assets, filed a proposed Plan of Liquidation that offers to
return 100 cents on the dollar to secured creditors and let
unsecured creditors split from recoveries of any litigation
claims.

The classification, treatment, voting rights, and estimated
recoveries, estimated as of Jan. 6, of the claims and interests, by
class, under the Plan are:

                                                         Projected
                                                            Plan
  Class  Claim or Interest     Voting Rights  Treatment   Recovery
  -----  -----------------     -------------  ---------   --------
    1   Priority Non-Tax Claims     No        Unimpaired    100%
    2   Secured Claims              No        Unimpaired    100%
    3   General Unsecured Claims   Yes        Impaired       TBD
    4   Subordinated Claims        Yes        Impaired        0%
    5   Equity Interests            No        Impaired        0%

The Debtor said that the estimated recovery for holders of general
unsecured claims is still to be determined.  The Debtor also said
that its liquidation analysis will be filed separately.

The Plan contemplates the establishment of a Liquidating Trust, and
the appointment of a Liquidating Trustee, who will be responsible
for liquidating any assets that have not been liquidated prior to
the Effective Date, pursuant to the Plan and a Liquidating Trust
Agreement.

Each Holder of an allowed claim in Class 3 will be satisfied by
receipt of its ratable share of Series A Liquidating Trust
Interests, which will entitle such Holder to its ratable share of
liquidating trust distributions until the principal amount of such
holder's Allowed Class 3 Claim is satisfied in full, and, after the
principal amount of Allowed Class 4 Claims are satisfied in full,
postpetition interest at the Federal Judgment Rate.

Upon the occurrence of the Effective Date, (a) the members of the
board of directors or managers, as the case may be, of each of the
Debtors will be deemed to have resigned; and (b) each of the
Debtors will cause all of its Assets and those of the Estates to be
transferred to the Liquidating Trust in accordance with the Plan.

Subject to the limitations set forth in the Liquidating Trust
Agreement, on and after the Effective Date, the Liquidating Trustee
shall have sole authority and responsibility for investigating,
analyzing, commencing, prosecuting, litigating, compromising,
collecting, and otherwise administering all Litigation Claims.

A copy of the Disclosure Statement filed Jan. 4, 2016, is available
for free at:

     http://bankrupt.com/misc/Health_Diagnostic_745_DS.pdf

                   Rule 2004 Investigations

On June 30, 2015, the Debtors filed a motion seeking authority to
conduct a Fed. R. Bankr. P. 2004 examination of UnitedHealthcare
Insurance Company to determine whether the Debtors may have any
claims against United for United's failure to pay millions of
dollars of claims submitted by the Debtors under that certain
Facility Participation Agreement dated June 1, 2014, by and between
the Debtors and United.  On July 16, 2015, the Court entered an
order authorizing the Debtors to conduct a Rule 2004 examination of
United.

The Debtors subsequently filed a motion seeking authority to
conduct a Rule 2004 examination of Humana, Inc. to determine
whether the Debtors may have any similar claims against Humana.  On
Sept. 17, 2015, the Court entered an order authorizing the Debtors
to conduct a Rule 2004 examination of Humana.

The Debtors continue to investigate these potential claims.

On Sept. 30, 2015, the Creditors' Committee filed a motion seeking
authority to conduct a Rule 2004 examination of numerous Persons,
including the Debtors.  On Oct. 27, 2015, the Court entered an
order authorizing the Creditors' Committee to conduct a Rule 2004
examination of numerous Persons, including the Debtors.  

The Committee 2004 Motion identifies potential Causes of Action
against numerous Persons, including Causes of Action based upon
fraudulent conveyance, preference, unlawful distribution and breach
of fiduciary duty under the Bankruptcy Code and Virginia law, as
applicable.  The Committee 2004 Motion identifies as targets of
this investigation, among others, certain of the Debtors'
shareholders, D&Os, and BlueWave and certain of its shareholders,
officers and directors, and related entities.  

In addition, on Oct. 26, 2015, the Creditors' Committee sent a
letter to certain D&Os asserting numerous Causes of Action against
such Persons.

                           *     *     *

In an October 2015 limited objection to the Debtor's motion to
extend its exclusive period to propose a plan, the Committee asked
the Court that it be granted with the Debtor the co-exclusive right
to file a plan of liquidation.  The Committee said it contemplates
a straightforward plan of liquidation, with no third party
releases, and with any and all potential claims and causes of
action of the estates being assigned to a liquidating trust for the
benefit of all creditors.

The Committee is not a co-proponent to the Debtor's Plan.

                      About Health Diagnostic

Health Diagnostic Laboratory, Inc., Central Medical Laboratory,
LLC, and Integrated Health Leaders, LLC, are health care businesses
based in Richmond, Virginia.  HDL is a blood testing company.

Health Diagnostic Laboratory, Inc. (Bankr. E.D. Va. Case No.
15-32919) and affiliates Central Medical Laboratory, LLC (Bankr.
E.D. Va. Case No. 15-32920) and Integrated Health Leaders, LLC
(Bankr. E.D. Va. Case No. 15-32921) filed separate Chapter 11
bankruptcy petitions on June 7, 2015.  The petitions were signed by
Martin McGahan, chief restructuring officer.  

HDL disclosed $96,130,468 in assets and $108,328,110 in liabilities
as of the Chapter 11 filing.

Justin F. Paget, Esq., Tyler P. Brown, Esq., Jason W. Harbour,
Esq., and Henry P. (Toby) Long, III, Esq. at Hunton & Williams LLP
serve as the Debtors' bankruptcy counsel.  Alvarez & Marsal is the
Debtors' financial advisor.  Robert S. Westermann, Esq., at
Hirshler Fleisher, P.C., serve as the Debtors' conflicts counsel.
American Legal Claims Services, LLC, is the Debtors' claims,
noticing and balloting agent.  Ettin Group, LLC, will market and
sell the miscellaneous equipment and other assets.  MTS Health
Partners, L.P., serves as investment banker.

To assist them with their restructuring efforts and to help
maximize the value of their estates, the Debtors filed with the
Court an application seeking entry of an order authorizing the
Debtors to retain Alvarez & Marsal Healthcare Industry Group, LLC
("A&M") to provide the Debtors with a Chief Restructuring Officer
and certain additional personnel.  Richard Arrowsmith is presently
the CRO.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  The official committee
retained Cooley LLP as its counsel and Protiviti Inc. as its
financial advisor.

                           *     *     *

On Oct. 29, 2015, the Court entered an order extending until Jan.
4, 2016, the period during which the Debtors have the exclusive
right to propose a Chapter 11 plan, and until March 3, 2016, the
exclusive period to solicit acceptances of that plan.

On Nov. 5, 2015, the Court entered an order setting Dec. 22, 2015,
as the Bar Date for the filing of all proofs of claim.

On Jan. 4, 2016, the Debtors filed a proposed Plan of Liquidation
and Disclosure Statement.  A hearing on the Disclosure Statement is
scheduled for Feb. 11, 2016.


HEALTH DIAGNOSTIC: Targeting March 29 Confirmation of Plan
----------------------------------------------------------
Health Diagnostic Laboratory, Inc., et al., is slated to ask Judge
Kevin R. Huennekens on Feb. 11, 2016, at 10:00 a.m., prevailing
Eastern Time, for approval of the disclosure statement explaining
their proposed Plan of Liquidation.

Objections to the adequacy of the information in the Disclosure
Statement are due Feb. 1, 2016, at 4:00 p.m., prevailing Eastern
Time.

Aside from seeking approval of the Disclosure Statement, the
Debtors are seeking an order:

   -- establishing the date of the hearing on the approval of the
Disclosure Statement, Feb. 11, 2016, as the record date for the
purposes of determining creditors entitled to receive a
Solicitation Package and who may be entitled to vote on the Plan
(the "Record Date");

   -- Fixing seven days prior to the Confirmation Hearing, March
22, 2016, as the deadline (1) by which creditors must vote to
accept or reject the Plan (the "Voting Deadline"); and (2) by which
parties must file objections to the Plan (the "Confirmation
Objection Deadline"); and

   -- scheduling the Confirmation Hearing for March 29, 2016, at
10:00 a.m. (prevailing Eastern Time).

The Debtors also ask the Court to approve the form and manner of
the solicitation packages, the form and manner of notice of the
confirmation hearing, procedures for distributing solicitation
packages, and the forms of ballots.

                      About Health Diagnostic

Health Diagnostic Laboratory, Inc., Central Medical Laboratory,
LLC, and Integrated Health Leaders, LLC, are health care businesses
based in Richmond, Virginia.  HDL is a blood testing company.

Health Diagnostic Laboratory, Inc. (Bankr. E.D. Va. Case No.
15-32919) and affiliates Central Medical Laboratory, LLC (Bankr.
E.D. Va. Case No. 15-32920) and Integrated Health Leaders, LLC
(Bankr. E.D. Va. Case No. 15-32921) filed separate Chapter 11
bankruptcy petitions on June 7, 2015.  The petitions were signed by
Martin McGahan, chief restructuring officer.  

HDL disclosed $96,130,468 in assets and $108,328,110 in liabilities
as of the Chapter 11 filing.

Justin F. Paget, Esq., Tyler P. Brown, Esq., Jason W. Harbour,
Esq., and Henry P. (Toby) Long, III, Esq. at Hunton & Williams LLP
serve as the Debtors' bankruptcy counsel.  Alvarez & Marsal is the
Debtors' financial advisor.  Robert S. Westermann, Esq., at
Hirshler Fleisher, P.C., serve as the Debtors' conflicts counsel.
American Legal Claims Services, LLC, is the Debtors' claims,
noticing and balloting agent.  Ettin Group, LLC, will market and
sell the miscellaneous equipment and other assets.  MTS Health
Partners, L.P., serves as investment banker.

To assist them with their restructuring efforts and to help
maximize the value of their estates, the Debtors filed with the
Court an application seeking entry of an order authorizing the
Debtors to retain Alvarez & Marsal Healthcare Industry Group, LLC
("A&M") to provide the Debtors with a Chief Restructuring Officer
and certain additional personnel.  Richard Arrowsmith is presently
the CRO.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  The official committee
retained Cooley LLP as its counsel and Protiviti Inc. as its
financial advisor.

                           *     *     *

On Oct. 29, 2015, the Court entered an order extending until Jan.
4, 2016, the period during which the Debtors have the exclusive
right to propose a Chapter 11 plan, and until March 3, 2016, the
exclusive period to solicit acceptances of that plan.

On Nov. 5, 2015, the Court entered an order setting Dec. 22, 2015,
as the Bar Date for the filing of all proofs of claim.

On Jan. 4, 2016, the Debtors filed a proposed Plan of Liquidation
and Disclosure Statement.  A hearing on the Disclosure Statement is
scheduled for Feb. 11, 2016.


HEMCON MEDICAL: Hires Tonkon Torp as Bankruptcy Counsel
-------------------------------------------------------
HemCon Medical Technologies, Inc., seeks permission from the
Bankruptcy Court to employ Tonkon Torp as its counsel to:

   (a) advise the Debtor of its rights, powers and duties as a
       debtor and debtor-in-possession continuing to operate and
       manage its business and property under Chapter 11 of the
       Code;

   (b) take all actions necessary to protect and preserve Debtor's
       bankruptcy estate, including the prosecution of actions on
       the Debtor's behalf, the defense of any action commenced
       against the Debtor, negotiations concerning all litigation
       in which Debtor is involved, objections to claims filed    
       against Debtor in this bankruptcy case, and the
       compromise or settlement of claims;

   (c) advise the Debtor concerning, and prepare on behalf of the
       Debtor, all necessary applications, motions, memoranda,
       responses, complaints, answers, orders, notices, reports
       and other papers, and review all financial and other
       reports required from Debtor as debtor-in-possession in
       connection with administration of this Chapter 11 case;

   (d) advise the Debtor with respect to, and assist in the
       negotiation and documentation of, financing agreements,
       debt and cash collateral orders, and related
       transactions;

   (e) review the nature and validity of any liens asserted
       against the Debtor's property and advise the Debtor
       concerning the enforceability of those liens;

   (f) prepare, conduct and assist with the sale of the Debtor;

   (g) advise the Debtor regarding (i) its ability to initiate
       actions to collect and recover property for the benefit of
       its estate; (ii) any potential property dispositions; and
      (iii) executory contract and unexpired lease assumptions,
       assignments and rejections, and lease restructuring and
       recharacterizations;

   (h) if appropriate, negotiate with creditors concerning a
       Chapter 11 plan; prepare the plan, disclosure statement and
       related documents; take the steps necessary to confirm and
       implement the plan, including, if necessary, negotiations
       for financing the plan; and

   (i) provide such other legal advice or services as may be
       required in connection with this Chapter 11 case.

The Debtor has agreed to compensate Tonkon Torp on an hourly basis
in accordance with Tonkon Torp's ordinary and customary hourly
rates in effect on the date services are rendered.  The Tonkon Torp
professionals who will be primarily responsible for providing these
services, their status and their billing rates are as
follows:

  Attorney Name            Status                 Hourly Rate
  -------------            ------                 -----------
  Albert N. Kennedy        Partner                   $520
  Timothy J. Conway        Partner                   $475
  Michael W. Fletcher      Partner                   $350
  Ava L. Schoen            Of Counsel                $325
  Spencer Fisher           Paralegal                 $150

In the 12 months preceding the Petition Date, Tonkon Torp received
payments totaling $129,214 for prepetition fees, costs and
expenses, which includes the bankruptcy filing fee of $1,717.

To the best of the Debtor's knowledge, the partners and associates
of Tonkon Torp do not have any connections with it, its creditors,
any other party-in-interest, or their respective attorneys or
accountants, except as stated in the Rule 2014 Verified Statement
of Proposed Professional.

                    Rule 2014 Verified Statement

Tonkon Torp researched its conflicts database to determine whether
it had any connections with the Debtor, the Debtor's officers and
directors, and the Debtor's creditors or other parties-in-
interest.

Tonkon disclosed that it currently represents the following
creditors of the Debtor in matters unrelated to this case: FedEx,
Rose City Moving & Storage, Graphic Arts Center, and PGE.  In the
event a dispute arises with these creditors Tonkon will not
represent either side.  

Tonkon formerly represented NW Natural Gas and Regence Blue Cross
Blue Shield in matters unrelated to this case.  

Tonkon represents the following other clients in matters adverse to
the following creditors of the Debtor in matters completely
unrelated to this case: IndCor Properities, SSOE Group, IPFS, IRS,
Graphic Arts Center, Washington County Taxation and Assessment.

Tonkon has banking relationships with Wells Fargo, Bank of America,
Union Bank, and Bank of the Cascades.  Tonkon may have vendors,
suppliers, or other service providers who have connections with the
Debtor, the Debtor's officers and directors, and Debtor's creditors
or other parties in interest.  Tonkon has conducted no
investigation of its vendors, suppliers, or other service providers
in preparing this statement.

Certain Tonkon attorneys or staff, or the Tonkon retirement plan,
may own equity or debt securities -- directly or through mutual
funds, trusts and portfolios -- issued by creditors or other
parties-in-interest in this Chapter 11 case.  In addition, clients
of Tonkon may own equity or debt securities -- directly or through
mutual funds, trusts and portfolios -- issued by creditors or other
parties in interest.

Attorneys and staff at Tonkon or their spouses or relatives may be
current or former employees or officers and directors of creditors
or other parties-in-interest and may have beneficial ownership of
securities issued by, or banking, insurance, brokerage or money
management relationships with, creditors or other parties-in-
interest in this Chapter 11 case.  

                       About Hemcon Medical

HemCon Medical Technologies, Inc. filed Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30119) on Jan. 15, 2016.
The petition was signed by Michael Wax as president and CEO. The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Tonkon Torp LLP represents the Debtor as
counsel.

HemCon began operations in 2001 and today brings advanced wound
care technologies to the worldwide healthcare market.

The Debtor previously filed a Chapter 11 bankruptcy on April 10,
2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on May
6, 2013, and the Final Decree was entered and the case was closed
on Nov. 20, 2013.


HEMCON MEDICAL: Obtains $800,000 DIP Commitment From Tricol
-----------------------------------------------------------
HemCon Medical Technologies, Inc., seeks permission from the
Bankruptcy Court to obtain post-petition financing from Tricol
International Group Limited in an amount up to $800,000.

Proceeds of the DIP Facility will be used to fund the working
capital requirements and other general corporate needs of the
Debtor during the pendency of this case and to pay certain fees and
other costs and expenses consistent with the Budget and other
administrative expenses as approved by the Court.

The outstanding principal balance under the DIP Facility will bear
interest at the rate of 12% per annum.

The DIP Facility will mature, and all obligations of the Debtor
under the DIP Facility will be due and payable in full in cash on
the earliest of (i) the closing of a sale of all or substantially
all of the Debtor's assets; or (ii) conversion or dismissal of this
Chapter 11 case.

"Approval of the DIP Facility will provide Debtor with immediate
and ongoing access to borrowing availability to pay its current and
ongoing operating expenses, including post-petition wages and
salaries, and utility and vendor costs.  Unless these expenses are
paid, Debtor will be forced to cease operations and immediately
liquidate," said Albert N. Kennedy, Esq., at Tonkon Torp, LLP,
counsel for the Debtor.

The Debtor proposes to grant to the Lender security interests in
and liens upon all of the Collateral, subject, however, to any and
all valid and perfected liens and security interests in existence
on the Petition Date, to secure the repayment in full of the DIP
Facility, including Lender's Continuing Security Interest until the
DIP Facility is paid.

               HemCon Medical Technologies, Inc.

HemCon Medical Technologies, Inc. filed Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30119) on Jan. 15, 2016. The
petition was signed by Michael Wax as president and CEO. The Debtor
estimated both assets and liabilities in the range of $10 million
to $50 million.  Tonkon Torp LLP represents the Debtor as counsel.

HemCon began operations in 2001 and today brings advanced wound
care technologies to the worldwide healthcare market.

The Debtor previously filed a Chapter 11 bankruptcy on April 10,
2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on May
6, 2013, and the Final Decree was entered and the case was closed
on Nov. 20, 2013.


HEMCON MEDICAL: Section 341 Meeting Scheduled for Feb. 23
---------------------------------------------------------
A meeting of creditors in the bankruptcy case of HemCon Medical
Technologies, Inc. will be held on Feb. 23, 2016, at 10:00 a.m. at
UST1, US Trustee's Office, Portland, Rm 223.

This is the first meeting of creditors required under Section
341(a) of the Bankruptcy Code in all bankruptcy cases.

All creditors are invited, but not required, to attend.  This
meeting of creditors offers the one opportunity in a bankruptcy
proceeding for creditors to question a responsible office of the
Debtor under oath about the company's financial affairs and
operations that would be of interest to the general body of
creditors.

               HemCon Medical Technologies, Inc.

HemCon Medical Technologies, Inc. filed Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30119) on Jan. 15, 2016.
The petition was signed by Michael Wax as president and CEO. The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Tonkon Torp LLP represents the Debtor as
counsel.

HemCon began operations in 2001 and today brings advanced wound
care technologies to the worldwide healthcare market.

The Debtor previously filed a Chapter 11 bankruptcy on April 10,
2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on May
6, 2013, and the Final Decree was entered and the case was closed
on Nov. 20, 2013.

Proofs of Claims due are by May 23, 2016.


HEMCON MEDICAL: Signs $4 Million Purchase Agreement with Tricol
---------------------------------------------------------------
HemCon Medical Technologies, Inc., asks the Bankruptcy Court to
approve proposed bid procedures in connection with the sale of
substantially all of its assets.

The Debtor entered into the Asset Purchase Agreement with Tricol
International Group Limited as the stalking horse bidder.  The sale
proposed under the Stalking Horse APA is subject to the receipt of
higher and better offers received through a court-approved auction
or sale process.  If the auction yields a higher and better offer,
the Debtor will seek authority to effect a sale with the winning
bidder.

The decision to sell the assets has been approved by Debtor's board
of directors as necessary given Debtor's lack of sufficient capital
to continue operations.  The assets are fully encumbered by Tricol
to secure post-petition financing extended by Tricol to Debtor.

Pursuant to the terms of the Asset Purchase Agreement, the
aggregate consideration for Debtor's assets will include:

   (a) $1,600,000 in cash;

   (b) assumption of obligations owing to the Debtor's trade
       creditors totaling approximately $622,550;

   (c) assumption and payment of all administrative expenses,
       including the total obligation owed under the DIP Facility
       and compensation and expenses allowed to Debtor's
       professionals;

   (d) the amount (up to $150,000) required to maintain directors'

       and officers' tail insurance for three years following
       closing of the sale; and

   (e) the total obligation owed under the Pre-Petition Loan (as
       defined in the Asset Purchase Agreement) of $200,000.  

The total consideration paid or payable by Tricol under the Asset
Purchase Agreement will approach $4 million.

The Debtor establishes the following dates and deadlines relating
to competitive bidding and approval of the sale:

Bid Deadline: March 18, 2016, at 5:00 p.m. prevailing Pacific time,
as the deadline by which all binding bids must be actually received
by Debtor's counsel pursuant to the Bid Procedures.

Objection Deadline: March 18, 2016, at 5:00 p.m. prevailing Pacific
time as the deadline to object to the sale transactions and/or the
assumption and assignment of Assumed Agreements or cure costs
related thereto.

Auction: March 28, 2016, at 10:00 a.m. prevailing Pacific time, as
the date and time the auction, if one is needed, will be held at
the offices of Tonkon Torp LLP, 888 S.W. Fifth Avenue, Suite 1600,
Portland, Oregon, 97204.

Sale Hearing: March 30, 2016, at 9:30 a.m. or such other time as is
announced at the conclusion of the Auction, which will be held
before the Honorable Peter C. McKittrick, United States Bankruptcy
Judge for the United States Bankruptcy Court for the District of
Oregon, Courtroom No. 1 1001 S.W. Fifth Avenue, Portland, Oregon.

                     Auction and Bid Procedures

The Debtor's proposed Bid Procedures are intended to permit a fair
and efficient competitive sale consistent with the time line of
this Chapter 11 case and promptly identify any alternative bid that
is higher or otherwise better than the bid set forth in the
Stalking Horse APA.  The Bid Procedures establish, among other
things:

  * The deadlines and requirements for becoming a Potential
    Bidder, submitting competing bids and the method and criteria
    by which such competing bids are to become entitled to be
    Qualified Bids sufficient to trigger an Auction, including the
    minimum consideration that must be provided and the terms and
    conditions that must be satisfied by any Bidder (other than
    Tricol) to be entitled to be a Potential Bidder and a     
    Qualified Bidder;

  * The manner in which Qualified Bids will be evaluated by the
    Debtor to determine the starting bid for the Auction;

  * The procedures for conducting the Auction, if any;

  * The criteria by which the "Successful Purchaser" will be
    selected by the Debtor, in consultation with its advisors;
    and

  * Various other matters relating to the sale process
    generally, including the Sale Hearing, designation of a
    Back-Up Bidder, payment of the bid protections, return
    of any Sale Deposits and certain reservations of rights.

Debtor also requests approval of a breakup fee of $200,000.  The
breakup fee would be payable to Tricol in the event another bidder
prevails at the Auction and an alternate sale ultimately is
approved.

               HemCon Medical Technologies, Inc.

HemCon Medical Technologies, Inc. filed Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30119) on Jan. 15, 2016.
The petition was signed by Michael Wax as president and CEO. The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Tonkon Torp LLP represents the Debtor as
counsel.

HemCon began operations in 2001 and today brings advanced wound
care technologies to the worldwide healthcare market.

The Debtor previously filed a Chapter 11 bankruptcy on April 10,
2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on  May
6, 2013, and the Final Decree was entered and the case was closed
on Nov. 20, 2013.


HEMCON MEDICAL: Wants to Use Sussex's Cash Collateral
-----------------------------------------------------
HemCon Medical Technologies, Inc., seeks authority from the
Bankruptcy Court to use cash collateral of Sussex Associates, L.P.
amounting to $710,000, to pay its operating expenses.

The Debtor and Sussex are parties to certain loan and security
agreements pursuant to which Sussex asserts it holds perfected
security interests and liens in the Debtor's cash, existing and
future accounts receivable, inventory, purchase orders, and all
intellectual property and patents owned or licensed for use by the
Debtor and all proceeds thereof.  However, the Debtor believes
Sussex has not perfected a security interest in any cash.

On the Petition Date, the Debtor's obligations to Sussex totaled
approximately $5,000,000, including principal, interest, fees, and
costs, to which Sussex is entitled under the Loan Documents and
applicable law.  

According to the Debtor, Sussex is undersecured in that the value
of the accounts, inventory, purchase orders, and intellectual
property in which it has an interest are dependent on its continued
operation.  If the Debtor does not continue operations, it is
extremely unlikely that accounts will be paid or inventory will be
sold.  The intellectual property will have little or no value.

To provide adequate protection, Sussex is granted a replacement
security interest in and lien upon all of the Debtor's assets of
the same category, type, kind, character and description as were
subject to the perfected and valid security interests in existence
on the Petition Date and will have the same relative priority as
any valid and unavoidable lien held by Sussex as of the Petition
Date.  The liens and security interest to be granted to Sussex will
be granted for adequate protection purposes only, and will not
enhance or improve the position of Sussex.

                HemCon Medical Technologies, Inc.

HemCon Medical Technologies, Inc. filed Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30119) on Jan. 15, 2016.
The petition was signed by Michael Wax as president and CEO. The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Tonkon Torp LLP represents the Debtor as
counsel.

HemCon began operations in 2001 and today brings advanced wound
care technologies to the worldwide healthcare market.

The Debtor previously filed a Chapter 11 bankruptcy on April 10,
2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on May
6, 2013, and the Final Decree was entered and the case was closed
on Nov. 20, 2013.


HII TECHNOLOGIES: Creditors Committee Opposes Roll-Up Removal
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of HII Technologies,
Inc. ("Official Committee") objected to the Motion filed by the Ad
Hoc Committee of Creditors of debtor Apache Energy Services, Inc.
("Ad Hoc Committee"), asking the U.S. Bankruptcy Court for the
Southern District of Texas, Victoria Division, to amend findings of
fact and conclusions of law in connection with the Court's Final
Order authorizing postpetition financing.

The Official Committee relates that the Motion asks the Court to
excise a material provision in the Court's Final Order that
rolls-up $12 million in pre-petition loans into post-petition debt
("Roll-Up").  The Official Committee further relates that removing
the Roll-Up from the order is not a simple amendment of the Court's
carefully-considered Order and that doing so would constitute a
unilateral judicial re-write of the DIP facility.  The Official
Committee asserts that the Court has already approved the Roll-Up,
and the issue should not be revisited, as doing so would have
disastrous consequences, according to the Official Committee.

The Official Committee of Unsecured Creditors is represented by:

          W. Steve Bryant, Esq.
          Elizabeth M. Guffy, Esq.
          Steven W. Golden, Esq.
          LOCKE LORD LLP
          600 Travis Street, Suite 2800
          Houston, TX 77002
          Telephone: (713)226-1489
          Facsimile: (713)229-2536
          E-mail: sbryant@lockelord.com
                  eguffy@lockelord.com
                  steven.golden@lockelord.com

                      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 McKool Smith P.C. as counsel, and Stout Risius
Ross, Inc. for management and restructuring services.

On Sept. 29, 2015, HII Technologies appointed Power Reserve Corp.,
Bold Production Services LLC, and Black Gold Energy LLC to serve on
its official committee of unsecured creditors.  On Oct. 7, Black
Gold was replaced by Worldwide Power Products LLC.


HONG KONG ENTERTAINMENT: Court Dismisses Ch. 11 Bankruptcy Case
---------------------------------------------------------------
Raquel C. Bagnol at Marianas Variety reports that U.S. Bankruptcy
Judge Robert J. Faris has granted U.S. Trustee's request to dismiss
Hong Kong Entertainment (Overseas) Investment, Ltd.'s Chapter 11
bankruptcy case, without precluding the Company from refiling a
Chapter 11 bankruptcy petition.

Citing Assistant U.S. Trustee Curtis Ching, Variety relates that
the Company's case has to be dismissed for these reasons: (i) the
Company lacks appropriate insurance and its ongoing uninsured
business operations pose a risk to the estate and to the public;
(ii) the Company appears to be incurring substantial losses and
lacks a reasonable likelihood for rehabilitation; and (iii) the
Company has not complied with the U.S. Trustee's standard request
for background documents.

As confirmed by the Company's insurance broker, Traders Insurance,
the Company lacks appropriate insurance and has admitted to the
U.S. Trustee that it has no general liability insurance, no
property insurance and no typhoon insurance, the report states,
citing Mr. Ching.  According to the report, Mr. Ching said that the
Company has not provided documents to verify its claim that it has
vehicle insurance for its 12 vehicles.

Mr. Ching, Variety states, said that the Company values itself
around $55 million but its secured debts exceed $194 million while
its unsecured debts total over $78 million.  The Company failed to
provide the documents requested by the U.S. Trustee and lacks the
ability to reorganize because it has, among other things, been
apparently operating without permission to use cash collateral and
does not appear to have the ability to make adequate protection
payments.

The Company had virtually no income at the time of the filing
except for the prepaid tours, Variety.com reports, citing Mr.
Ching.

                   About Hong Kong Entertainment

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


HS 45 JOHN: Chapter 11 Plan, $73MM Sale Approved by Judge
---------------------------------------------------------
HS 45 John LLC has won approval from the U.S. Bankruptcy Court for
the Southern District of New York of its Chapter 11 plan predicated
on the sale of the property at 45 John Street, New York, NY (Block
78, Lots 1701-1787), for $73 million.

On Nov. 11, 2015, Judge Sean Lane granted conditional approval of
the Disclosure Statement and scheduled a Dec. 9, 2015 combined
hearing to consider final approval of the Disclosure Statement and
confirmation of the Plan.

On Dec. 22, Judge Lane confirmed the Debtor's Chapter 11 Plan of
Reorganization dated Nov. 10, 2015, as supplemented on Dec. 3, 2015
and Dec. 4, 2015.

The Judge also approved the sale of the Property 45 John NY LLC
pursuant to the Sale Agreement.

Objections to the Plan filed by the 41% Investors and Chun Peter
Dong, holders of the Class 3 Claims under the Debtor's proposed
Plan relating to the consequences of a potential default by Chaim
Miller and Sam Sprei with respect to their obligations under the
Settlement Agreement.  The objections were addressed and resolved
by the Second Supplement and at the Confirmation Hearing.

The Debtor disclosed in its Second Supplement that the stalking
horse purchaser, 45 John NY LLC, has been designated the high
bidder and successful purchaser for purposes of confirmation of the
Plan.  Accordingly, the Debtor intends to close the stalking horse
contract and sell the Property to 45 John NY LLC for $73 million,
subject to the exemption for payment of real estate transfer taxes
and mortgage recording taxes under 11 U.S.C Sec. 1146(a).  Section
5.3 of the Plan is also clarified to provide an exemption for
payment of mortgage transfer taxes by 45 John NY LLC, as the
successful purchaser, to the extent any additional mortgage
recording taxes are used in connection with the sale transaction,
after the assignment of the underlying mortgages by the SDF Lenders
to 45 John LLC's mortgage lender, which is providing the financing
to close the sale transaction.

Section 4.5 of the Plan, relating to the treatment of the Class 2
Claims of the SDF Lenders, is supplemented and clarified as
follows:

      While Cham Miller ("Miller") and Sam Sprei ("Sprei") are
      responsible to pay all accrued interest to the SDF Lenders
      accruing for the period as of Sept. 17, 2015, at a rate of
      $3,333 per day, until Nov. 30, 2015 as part of the
      Settlement, the failure of Sprei and Miller or any other
      party to pay to interest accruals set forth above shall not
      impact the obligation to pay the SDF Lenders in accordance
      with the Section 2(C) of the Settlement Agreement.  However,

      in the event of a default by Miller and Sprei, they shall
      not receive their releases as provided in Article VIII of
      the Plan and the Debtor Injunction shall continue until such

      time as Miller and Sprei comply with all of their
      obligations under the Settlement Agreement.  All interest
      which accrues on or after Dec. 1, 2015, will be paid by 45
      John NY LLC in accordance with the Stalking Horse Contract.

Copies of the Plan Supplements are available for free at:

    http://bankrupt.com/misc/HS_45_170_Plan_Supplement.pdf
    http://bankrupt.com/misc/HS_45_173_Plan_Supplement_2.pdf

A copy of the Plan Confirmation and Sale Order dated Dec. 22, 2015,
is available for free at:

     http://bankrupt.com/misc/HS_45_184_Plan_Conf_Ord.pdf

                        The Chapter 11 Plan

HS 45 John LLC proposed a Chapter 11 Plan of Reorganization reached
among all of the major creditors and parties-in-interest.

The Settlement Agreement was approved by Order dated Nov. 9, 2015,
and resolves the competing claims and counterclaims relating to the
Debtor's contested rights to purchase the property at 45 John
Street, New York, NY.  In essence, the Debtor's claims for specific
performance were settled in favor of proceeding with an auction
sale of the John Street Property pursuant to a Stalking Horse
Contract of $73 million, subject to any higher and better bids that
may be received.

The Auction Sale was scheduled for Dec. 2, 2015, with all competing
bids to be received on or before Nov. 30, 2015.  The results of the
Auction Sale was to be approved in connection with the confirmation
of the Plan, although the actual closing of the transaction will
occur on a post-confirmation basis so as to preserve entitlement to
the transfer tax exemptions under Section 1146(a) of the Bankruptcy
Code.  Pursuant to the Settlement Agreement, the closing dated will
be on or before Dec. 30, 2015, but absolutely no later than Jan.
20, 2016 (time of the essence).

The Plan provides for distribution of the sale proceeds to various
creditors and other parties-in-interest in accordance with the
waterfalls established under the Settlement Agreement.  To the
extent that the John Street Property is sold for more than $73.6
million, the Plan also provide for additional recoveries primarily
to the 41% Investors, the Debtor and Chung Peter Dong, with limited
entitlements to the SDF Lenders (up to $100,000), Bao Di Liu (up to
$150,000) and Riverside Abstract LLC (15% of the sale proceeds over
$80 million).  The Settlement Agreement is specifically
incorporated as part of the Plan and liberally referenced and
quoted throughout.

In accordance with Section 1126(f) of the Bankruptcy Code, all
classes of claims that are impaired under the Plan may vote to
accept or reject the Plan.  The Class 2 Secured Claims of the SDF
Lenders, the Class 3 claims of the 41% Investors, and the Class 4
Claim of Chun Peter Dong are impaired, making them eligible to
vote.  The other classes of allowed claims are being paid in full
and thus are deemed unimpaired and not eligible to vote.

Holders of no-insider unsecured claims will be paid in full on the
Effective Date and are unimpaired under the Plan.

A copy of the Revised Disclosure Statement filed Nov. 11, 2015, is
available for free at:

        http://bankrupt.com/misc/HS_45_John_160_Rev_DS.pdf

The Debtor is represented by:

          Kevin J. Nash, Esq.
          GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
          1501 Broadway, 22nd Floor
          New York, New York 10036
          Tel: (212) 221-5700
          Fax: (212) 422-6836
          E-mail: KNash@gwfglaw.com

               - and -

          Vadim J. Rubinstein, Esq.
          LOEB & LOEB LLP
          345 Park Avenue
          New York, New York 10154
          Tel: (212) 407-4000
          Fax: (212) 656-1307
          E-mail: vrubinstein@loeb.com

                        About HS 45

The 45 John Street, New York, NY (Block 78, Lots 1701-1787), is a
vacant, partially renovated mixed use condominium with three
commercial units and 84 residential units on twelve floors.

The John Street Property is owned by 45 John Lofts LLC which was
organized in February 2014 by Chaim Miller, as the 68% member and
initial manager, and Chun Peter Dong as the other 32% member.
Thereafter, Miller assigned portions of his 68% membership interest
in 45 John Lofts LLC to a group of Asian investors headed by Wing
Fung Chau and Tu Kang Yang. The group also included Sum Tsang
Cheng, Wan Bin Lu, Song Lin, Mei Hua Chen, Xiu Qin Lin, Xin Yu
Huang, Bao Di Liu, Shu Ping Chan, Season Garden Realty, Inc., Li
Lan Liao a/k/a Li Lan Wu and Aiyun Chen (all of whom are
collectively referred to as the "41% Investors").

John Lofts' acquisition of the John Street Property was financed
through various mortgage loans obtained from two Madison Capital
affiliates, SDF81 45 John Street 1 LLC and SDF81 45 John Street 2
LLC (collectively the "SDF Lenders") in the aggregate principal
amount of $48 million.

On Sept. 19, 2014, Miller and John Lofts entered into Contract to
sell the John Street Property to the Debtor for a total sum of
approximately $65.9 million. The Debtor's Contract included a
deposit of $14.33 million which was paid directly to John Lofts,
less certain reserves and prepayments.  As events unfolded, most of
the deposit ($10.75 million) was simultaneously used by Miller to
consummate a separate set of transactions to buy out his partner Bo
Jin Zhu (the "Zhu Buyout"), concerning four other properties
located at (i) 97 Grand Avenue, Brooklyn; (ii) 203-205 North 8th
Street, Brooklyn; (iii) 32-34 Fifth Ave, Brooklyn; and (iv) 29
Ryerson Street, Brooklyn (collectively, the "Brooklyn
Properties").

In connection with the Debtor's Contract, 45 John Lofts, together
with Miller and his associate, Sam Sprei, made a series of
warranties and representations relating to the status of the
mortgages encumbering the John Street Property, promising that the
Mortgages were, and would remain current, and were not in default.
These representations and warranties proved to be completely false
and untrue.

In addition, Miller and Sprei became subject to a number of State
Court lawsuits with, among others, Dong and the 41% Investors
challenging Miller's authority to sell the John Street Property to
the Debtor without their consent.

In light of all of the competing claims and interests, HS 45 John
LLC, a single asset real estate, filed a Chapter 11 bankruptcy
petition (Bankr. S.D.N.Y. Case No. 15-10368) on Feb. 20, 2015.  The
case is assigned to Judge Sean H. Lane.  

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

The Debtor tapped Goldberg Weprin Finkel Goldstein LLP and Loeb &
Loeb LLP as attorneys.


IDENTIPHI INC: High Court Takes Up $1.7M DLA Piper Negligence Row
-----------------------------------------------------------------
Michelle Casady at Bankruptcy Law360 reported that the Texas
Supreme Court agreed on Jan. 19, 2016, to determine whether a
security technology company's former majority shareholder had
standing to sue DLA Piper for allegedly causing him $1.7 million in
losses on a bridge loan he provided the now-defunct company.

A jury had awarded Chris Linegar $1.1 million after finding the law
firm was 90 percent liable for the $1.7 million he allegedly lost
as a result of following his DLA Piper attorneys' negligent

                      About IdentiPHI, Inc.

Austin, Tex.-based IdentiPHI, Inc., a technology company, offered
enterprise security solutions and consulting services.  IdentiPHI,
Inc., filed a Chapter 11 petition (Bankr. W.D. Texas Case No.
09-10349) on Feb. 11, 2009.  Judge Craig A. Gargotta presides over
the case.  Joseph D. Martinec, Esq., at Martinec, Winn, Vickers &
McElroy, P.C., represents the Debtor.  The Debtor estimated assets
and debts between $1 million and $10 million.


INT'L BENEFITS: Continental Properly Denied Coverage, 4th Cir. Says
-------------------------------------------------------------------
In 2006, entities and individuals related to W.C. & A.N. Miller
Development Company were sued in a contract dispute.  Subsequently,
in 2010, Miller entered into a liability insurance contract with
Continental Casualty Company.  Miller itself was sued in 2010 in a
fraudulent conveyance action seeking recovery on the judgment
entered in the 2006 lawsuit.  Miller tendered the 2010 suit to
Continental, seeking coverage of defense costs.  Continental,
however, determined that the 2010 lawsuit alleged interrelated
wrongful conduct with the allegations made in the 2006 lawsuit
brought against entities related to Miller.  Because allegations of
the interrelated wrongful conduct constituted a claim first made in
2006, before the policy period, Continental denied coverage.
Miller went on to successfully defend the 2010 lawsuit at its own
cost.

In 2014, Miller sued Continental for breach of the insurance
contract and sought as damages the costs it incurred defending
itself in the 2010 lawsuit.  The crux of the parties' dispute is
whether the allegations in the 2006 and 2010 lawsuits are, indeed,
interrelated wrongful acts as defined by the insurance policy.  The
district court determined that Continental properly denied
coverage.

In a Decision dated December 30, 2015, which is available at
http://is.gd/voCeYs,the United States Court of Appeals for the
Fourth Circuit affirmed the district court's judgment.

The case is W.C. AND A.N. MILLER DEVELOPMENT COMPANY,
Plaintiff-Appellant, v. CONTINENTAL CASUALTY COMPANY,
Defendant-Appellee, No. 14-2327 (4th Cir.).

W.C. and A.N. Miller Development Company, Plaintiff and Counter
Defendant, is represented by Paul J Kiernan --
paul.kiernan@hklaw.com -- at Holland and Knight LLP.

Continental Casualty Company, Defendant and Counter Claimant,
is represented by Ashley Eiler -- aeiler@wileyrein.com -- Richard
A
Simpson -- rsimpson@wileyrein.com -- Theodore A Howard --
toward@wileyrein.com -- at Wiley Rein LLP.


KUSH BOTTLES: RBSM LLP Expresses Going Concern Doubt
----------------------------------------------------
RBSM LLP, in a letter to the board of directors and shareholders of
Kush Bottles, Inc., dated Nov. 30, 2015, expressed substantial
doubt about the company's ability to continue as a going concern.
The firm audited the consolidated balance sheets of the company as
of Aug. 31, 2015 and 2014, and the related consolidated statements
of operations, stockholders' equity and cash flows for the years
then ended.

RBSM pointed out that the company has sustained recurring net
losses, negative cash flow from operations, and faces uncertainties
surrounding the company's ability to raise additional funds.
"These conditions raise substantial doubt about the company's
ability to continue as a going concern."

"During the year ended August 31, 2015, the company had a net loss
of $339,303 and negative cash flow from operations of $202,228.
Historically, the company has had operating losses and negative
cash flows from operations.  Whether, and when, the company can
attain profitability and positive cash flows from operations is
uncertain," Nicholas Kovacevich, chief executive officer and
secretary, and Chris Martin, chief financial officer of the company
said in a regulatory filing with the U.S. Securities and Exchange
Commission dated November 30, 2015.

"These uncertainties cast significant doubt upon the company's
ability to continue as a going concern."

The officers continued: "The company will need to raise capital in
order to fund its operations.  This need may be adversely impacted
by uncertain market conditions and changes in the regulatory
environment.  To address its financing requirements, the company
will seek financing through debt and equity issuances and rights
offerings to existing shareholders.

"Specifically, management has identified that a minimum of $350,000
of capital is needed over the next 12 months in order sustain
operations.  These capital needs take into account, among other
things, management's plans to alleviate cash constraints over the
next 12 months by increasing sales volume and gross margin through
focused sales and marketing efforts in developing states.
Management expects to utilize the $350,000 for working capital.
Moreover, on April 6, 2015, the company entered into a $240,000
revolving line of credit facility with a financial institution,
which the company can utilize to fund working capital requirements.
Furthermore, management has outlined a plan to raise $1,000,000 in
capital over the next 12 months through the issuance of shares of
the company's common stock to accredited investors.  Management
believes that the capital raised through these methods will be
sufficient to sustain operations for the next 12 months.  However,
the outcome of these matters cannot be predicted with certainty at
this time."

At Aug. 31, 2015, the company had total assets of $3,745,268, total
liabilities of $1,010,512, and stockholders' equity of $2,734,756.

For the year ended Aug. 31, 2015, the company recorded a net loss
of $339,303 as compared with a net loss of $395,517 during the same
period in 2014.

A full-text copy of the company's annual report is available for
free at http://tinyurl.com/jsrkt8z

Based in Santa Ana, California, Kush Bottles, Inc. specializes in
the wholesale distribution of packaging supplies for the cannabis
industry.  On April 10, 2015, the company entered into an equity
purchase agreement to acquire all of the membership interests in
Dank Bottles, LLC, for $373,725.


LAKE ROAD HOLDING: Plans to Wind Down in February
-------------------------------------------------
Lake Road Holding Company LLC intends to file a certificate of
dissolution in February 2016.  Any claims against the Company must
be sent in writing to:

   Lake Road Holding Company LLC
   c/o Capstone Advisory Group
   104 West 40th Street, 16th Floor
   New York, NY 10018
   Attention: Chris Kearns

Each claim must include the name, address, and telephone number of
the claimants, the dates of occurrence of events upon which the
claim is based and brief description of the basis for the claim or
the nature of the debt, the amount of the claim and whether the
claim is secured, and, if so, the nature of the security.


LAREDO PETROLEUM: S&P Lowers CCR to 'B', Outlook Stable
-------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Tulsa, Ok.-based exploration and production (E&P) company
Laredo Petroleum Inc. to 'B' from 'B+'.  The outlook is stable.

At the same time, S&P lowered its issue-level ratings on the
company's senior unsecured debt to 'B-' from 'B'.  The recovery
rating on this debt remains '5', indicating S&P's expectation of
modest (upper half of the 10% to 30% range) recovery in the event
of a payment default.

"The downgrade reflects our reduced oil and natural gas price
assumptions and our resulting estimates for higher debt leverage in
2016 and 2017," said Standard & Poor's credit analyst Daniel
Krauss.  "As a result, we have revised Laredo's financial risk
profile assessment to highly leveraged from aggressive," he added.


S&P assesses Laredo's business risk profile as weak, reflecting
S&P's view of the company's small and concentrated reserve base
with a high percentage classified as proved-undeveloped and its
participation in the highly competitive, capital-intensive, and
cyclical oil and gas E&P industry.  S&P views Laredo's liquidity as
adequate.

The outlook is stable.  Based on S&P's scenario forecasts, it
expects that credit measures will weaken materially over the next
one to two years, given the depressed commodity pricing
environment.  In S&P's base case scenario, it forecasts that
weighted average credit measures will weaken into the highly
leveraged band, with debt to EBITDA exceeding 5x and FFO/debt
approaching 12%.  S&P expects that the company will continue to
preserve its adequate liquidity position, despite potential drops
in the borrowing base at 2016 redeterminations.

S&P would consider a downgrade within the next year if the company
faced material liquidity issues that limited its access to capital
to fund its growth or if FFO to debt dropped to below 10% and debt
to EBITDA exceeded 6.5x for a sustained period.  S&P believes this
could occur under a scenario in which capital spending remains
aggressive but production falls well short of expectations or is
delayed for an extended period.

The potential for an upgrade over the next year is limited by the
company's geographic concentration and financial sponsor ownership
at above 40%.  S&P could consider an upgrade if the company's
financial sponsor ownership dropped below 40% and if S&P expected
the company would be able to maintain FFO to debt at about 15% and
debt to EBITDA of below 5x on a sustained basis.



MADISON NICHE: Seeking U.S. Recognition of Cayman Liquidation
-------------------------------------------------------------
Matthew James Wright and Christopher Barnett Kennedy, duly
appointed joint official liquidators and authorized foreign
representatives of Madison Niche Opportunities Fund, Ltd. and
Madison Niche Assets Fund, Ltd., filed Chapter 15 bankruptcy
petitions in the U.S. Bankruptcy Court for the District of Delaware
(Bankr. D. Del. Case Nos. 16-10043 and 16-10045, respectively) on
Jan. 11, 2016, seeking recognition in the United States of the
Funds' liquidations.

The Liquidations are under the supervision of the Financial
Services Division of the Grand Court of the Cayman Islands as a
result of the Grand Court's orders made pursuant to the Official
Liquidators' petitions for the Grand Court's supervision under
Section 131 of the Companies Law of the Cayman Islands (2013
Revision).

While the Funds were formerly registered as mutual funds and
regulated by the Cayman Islands Monetary Authority, both Funds'
CIMA licenses were terminated following their entry into voluntary
liquidation.

On July 1, 2014, the sole ordinary voting shareholders of both
Funds passed resolutions as special written resolutions, in each
case providing that the business and affairs of the Funds be
voluntarily wound up in accordance with section 116(c) of the
Companies Law, and that the Official Liquidators be appointed as
the joint voluntary liquidators of the Funds.

After the Funds' entry into voluntary liquidation and the
appointment of the Petitioners as joint voluntary liquidators of
the Funds, the Petitioners determined that petitioning the Grand
Court for an order that the liquidation of the Funds be brought
under its supervision was necessary in order to best serve the
interests of the Funds and their respective creditors.  The
Petitioners reached this conclusion based upon their analysis of
all relevant factors, including the bankruptcy of Red Mesa and the
escalating dispute arising out of a Consulting Agreement with TMC
Consulting Services, LLC.  Opportunities Fund holds a 90.3%
interest in Red Mesa.

On March 6, 2015, the Petitioners, acting then in their capacities
as joint voluntary liquidations of the Funds, issued petitions to
the Grand Court under section 131 of the Companies Law seeking,
among other orders, that: the voluntary liquidation of the Funds
continue under the supervision of the Grand Court; Messrs. Wright
and Kennedy be appointed as the Official Liquidators of the Funds;
and the Petitioners be granted powers in their capacities as the
official liquidators of the Funds.

The Petitioners have engaged Young, Conaway, Stargatt & Taylor and
Holland & Knight LLP as their counsel.  Judge Kevin J. Carey has
been assigned the case.

                   Joint Administration Sought

Contemporaneously with the filing of the petitions, the Petitioners
ask the Bankruptcy Court to jointly administer the Chapter 15 cases
of the Funds for procedural purposes only under the Lead Case No.
16-10043.  The Official Liquidators said joint administration will
allow for the efficient and convenient administration of the Funds'
interrelated Chapter 15 cases, will yield significant cost savings
and will not prejudice the substantive rights of any
party-in-interest.


MAGNUM HUNTER: Court Authorizes $200-Mil. Postpetition Financing
----------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware authorized Magnum Hunter Resources Corporation and its
affiliated debtors to obtain both senior and junior secured
postpetition financing from lenders led by Cantor Fitzgerald
Securities, as the administrative agent and collateral agent of the
lenders.

Judge Gross authorized the Debtors to obtain secured postpetition
financing in the amount of $200,000,000, consisting of
approximately $70,000,000 of senior secured financing and up to
$130,000,000 in junior secured financing, and in the form of a
multiple delayed draw term loan subject and pursuant to the terms
and conditions set forth in the Court's Interim Order, Final Order
and the Debtor-In-Possession Credit Agreement dated Dec. 17, 2015.

Judge Gross also authorized the Debtors to use cash collateral and
provide adequate protection to the Prepetition Secured Parties
under (i) the credit agreement between Magnum Hunter Resources
Corporation ("MHRC") and the Prepetition First Lien Facility
Secured Lenders, in the principal amount of $70,000,000; and (ii)
the credit facility between MHRC and the Prepetition Second Lien
Facility Secured Lenders in the principal amount of $340,000,000.

Judge Gross approved and ratified in full, any DIP Financing
Documents executed by any Debtor prior to the entry of the Final
Order in accordance with the terms and conditions of the Interim
Order. He authorized the Debtors to continue to perform under the
DIP Financing Documents and, in the case of the Borrower, to borrow
the DIP Financing Loans in an aggregate principal amount of up to
$200,000,000 for working capital, to repay in full and in cash the
Prepetition First Lien Facility obligations, and other general
corporate purposes of the Debtors, and upon entry of the Final
Order, payment in full of the Prepetition First Lien Facility
Secured Obligations, to be incurred, or has been incurred, as the
case may be, as follows: (i)$40,000,000 upon entry of the Interim
Order; (ii) $100,000,000 upon entry of the Final Order; and (iii)
$60,000,000 upon the occurrence of certain conditions, as set forth
in the DIP Financing Documents.

Judge Gross held that the Debtors' use of Cash Collateral and other
unrestricted cash and cash equivalents shall only be permitted
pursuant to the terms of, and in accordance with, the Budget
subject to permitted variances. He further held that each of the
holders of approximately 80% of MHRC's Prepetition Notes and
holders of approximately 65% of MHRC's Prepetition Second Lien
Facility ("Backstoppers"), and the Committee has the right to
object to any payment or distribution of prepetition (i)(a)
Operating Expenses, Marketing Expenses and joint Interest Billings
in excess of $100,000 and (b) Shipping and Warehousing Claims and
503(b)(9) Claims in excess of $50,000 and (ii)(a) Operating
Expenses, Marketing Expenses, and Joint Interest Billings equal to
or less than $100,000 and (b) Shipping and Warehousing Claims and
503(b)(9) Claims equal or less than $50,000 to the extent the
aggregate amount of such payments exceeds:

     (1) in the week ending Dec. 25, 2015, $500,000;

     (2) in the week beginning Dec. 28, 2015 and ending Jan. 1,
2016, $1,250,000;

     (3) in the week beginning Jan. 2, 2016 and ending Jan. 8,
2016, $1,000,000;

     (4) in the week beginning Jan. 9, 2016 and ending Jan. 15,
2016, $750,000; and

     (5) in any subsequent calendar week, $500,000.

                       DIP Financing Motion

The Debtors said that, as of the Petition Date, their total cash
balance is approximately $2.2 million, which is insufficient to
operate their enterprise and continue paying their debts as they
come due.

The DIP Financing Facility will include loans to be advanced and
made available to the Borrower as follows:

  * $40 million to be made available on the date the Court enters
    the Interim DIP Order;

  * $100 million to be made available on the date the Court enters
    the Final DIP Order; and

  * $60 million to be made available upon the occurrence of
    certain conditions.

The term of the DIP Financing Facility will mature on the earliest
to occur of (i) of nine months after the closing date of the DIP
Financing Facility, (ii) 31 days after entry by the Court of the
Interim DIP Order, if the Final DIP Order has not been entered by
the Court prior to the expiration of such 30-day period, (iii) the
effective date of a plan of reorganization or liquidation in the
Bankruptcy Cases, (iv) the consummation of a sale of all or
substantially all of the assets of the Borrower and its
subsidiaries pursuant to Section 363 of the Bankruptcy Code, or (v)
the date of termination of the DIP Financing Lenders' Commitments
and the acceleration of any outstanding extensions of
credit, in each case, under the DIP Facility in accordance with the
terms of the DIP Financing Documents.

Loans under the DIP Facility bear an interest rate of LIBOR plus
8.0 percent, with a LIBOR floor of 1.0 percent (plus 2.0 percent
upon default).

                  About Magnum Hunter Resources

Irving, Texas-based Magnum Hunter Resources Corporation, 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.  MHRC's
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.

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, the chairman and CEO.

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.


MEDICURE INC: To Present at Cantech Investment Conference
---------------------------------------------------------
Medicure Inc. announced that it will present at the 2016 Cantech
Investment Conference on January 26th in Toronto.

Now entering its third year, The Cantech Investment Conference is
where Canada's next great technology companies meet the investment
community.  The conference, brought by Cantech Letter and Cambridge
House International, attracts public market investors, VCs, and
angel investors for a one-day exhibit and presentation.

The conference will start from 8:00 a.m. to 6:00 p.m. at the Metro
Toronto Convention Centre.  Medicure's President and Chief
Operating Officer, Mr. Dawson Reimer, will present on the TSX Stage
at 1:45 p.m.

                        About Medicure Inc.

Medicure -- http://www.medicure.com/-- is a specialty
pharmaceutical company focused on the development and
commercialization of therapeutics for the U.S. hospital market.
The primary focus of the Company and its subsidiaries is the
marketing and distribution of AGGRASTAT (tirofiban HCl) for non-ST
elevation acute coronary syndrome in the United States, where it is
sold through the Company's U.S. subsidiary, Medicure Pharma, Inc.

Ernst & Young LLP expressed substantial doubt about the Company's
ability to continue as a going concern, citing that the Company has
experienced losses and has accumulated a deficit of C$127 million
since incorporation and has a working capital deficiency of
C$503,000 as at Dec. 31, 2014.

The Company reported net income of C$1.2 million on C$5.26 million
in revenue for the year ended Dec. 31, 2014.  As of Sept. 30, 2015,
Medicure had C$12.1 million in total assets, C$10.2 million in
total liabilities and a C$1.95 million in total equity.


MEGA RETAIL: Plan to Sell YOU Chain Casts Going Concern Doubt
-------------------------------------------------------------
Mega Retail Ltd.'s management believes there are substantial doubts
regarding the continued existence of the company as a going
concern, according to Avigdor Kaplan, chairman of the company's
parent, Alon Blue Square Israel Ltd., in a Form 6-K filing with the
U.S. Securities and Exchange Commission dated Nov. 30, 2015.

Mr. Kaplan elaborated: "The company has accumulated significant
losses in recent years.  These losses during the nine month periods
ended September 30, 2015 amounted to NIS565 million.  In 2014 and
2013 the losses of the company and its subsidiaries amounted to
NIS436 million and NIS130 million, respectively.  The company's
shareholders' deficiency as of Sept. 30, 2015 amounted to NIS345
million and the excess of current liabilities over current assets
at that date amounted to NIS180 million.

"Following a deterioration in the financial strength of Mega and as
part of its reorganization plan, Mega reached an agreement with its
employees as well as an arrangement with some of its creditors (the
'the arrangement' or 'the creditors arrangement' or Mega's
arrangement) in a proceeding under section 350 of the Companies'
Law conducted in the Lod District Court (hereinafter: 'Court
proceedings').  In addition, Mega petitioned the District Court
seeking the issuance of a stay of proceedings order with respect to
its subsidiaries.  Immediately after approval of Mega's debt
arrangement by the District Court in July 2015 and in recent
months, Mega's management together with the Board of Directors,
which includes a number of new members appointed under the
arrangement, adopted considerable efficacy measures that included:
the closure of 32 branches, reduction of the personnel roster by
approximately 1000 employees, and investment of considerable
efforts to meet the targets of its business plan underlying the
approved arrangement.

"The company management estimate that the demand by some suppliers
for guarantees from the parent company, Blue Square, and negative
publicity regarding the parent company's disputes with its
creditors, resulted in recent weeks in changes in the credit terms
from suppliers and a significant slowdown in the supply of goods by
Mega's suppliers to its retail stores.  This slowdown has led to a
decrease in sales and is one of the central causes for Mega's
deviation from the reorganization plan.  Other significant causes
for Mega's deviation from the reorganization plan are a sale of
only a part of the branches that were closed, at a slower pace and
for consideration less than Mega's forecasts prior to the
arrangement and the need to pay rental fees on account of some of
the branches that were closed for a longer period than planned.  To
increase the prospects of the success of the reorganization, on
November 25, 2015, Mega's Board of Directors resolved to take other
efficiency measures, mainly the sale of Mega's discount stores
(YOU) and focus on the operation of the city stores chain.

"Mega's Board of Directors and management believe that Mega's
reaching an agreement for the sale of YOU discount store chain,
while reaching understandings with employees and suppliers and the
continued operation of the reorganization plan while focusing on
operating city store chain, will increase the prospects of the
plan's success.

"Taking into account the uncertainties in relation to the
realization of Mega's plan for selling the discount YOU stores,
inter alia, because of the need to reach an agreement quickly with
third parties (purchasers and renters of assets) regarding the sale
of branches, wholly or partly, and the need to reach agreements
with employees about significant reduction in manpower derived
therefrom, in view of the need to financially strengthen Mega in
the future beyond the liabilities of the parent company and given
the uncertainty about the willingness of the suppliers to maintain
a steady supply of goods in credit terms prior to the arrangement,
Mega's management believes that there are substantial doubts
regarding the continued existence of Mega as a going concern."

At September 30, 2015, the company had total assets of
NIS936,888,000, total liabilities of NIS1,282,118,000 and total
deficit of NIS345,230,000.

Net gain in the third quarter of 2015 amounted to NIS66 million, of
which NIS154 million were one-time expenses for 32 branches the
management resolved to close under the reorganization plan, and
other onetime expenses and onetime income of NIS229 million from a
gain from change in the fair value of financial liabilities
resulting from the debt arrangement as compared to a loss of NIS37
million in the comparable quarter last year.

Full-text copies of the company's Form 6-K and financial results
are available for free at:

* http://tinyurl.com/j2uvwnc
* http://tinyurl.com/j67ntu3

Mega Retail Ltd. is a subsidiary of Alon Blue Square Israel Ltd.
and operates the second largest food retail chain in Israel.  As of
November 30, 2015, the company closed 32 branches it planned to
close in accordance with its reorganization plan and now operates
148 branches and an internet sales Web site.


MICROCHIP TECHNOLOGY: S&P Lowers CCR to 'BB', Outlook Stable
------------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
unsolicited corporate credit rating on Chandler, Ariz.-based
Microchip Technology Inc. to 'BB' from 'BB+.'  The outlook is
stable.

In addition, S&P lowered its unsolicited issue-level rating on the
company's senior secured revolving credit facility to 'BB+' from
'BBB-'.  The recovery rating remains '2', which indicates S&P's
expectation of substantial (70% to 90%; upper half of the range)
recovery in the event of payment default.

S&P also lowered its unsolicited issue-level ratings on the
company's senior subordinated convertible notes due 2025 and junior
subordinated convertible notes due 2037 to 'B+' from 'BB-'. The
recovery rating remains '6', which indicates S&P's expectation of
negligible (0% to 10%) recovery in the event of payment default.

The downgrade reflects Microchip's weaker credit metrics as a
result of the acquisition of Atmel for approximately $3.6 billion.
S&P expects Microchip to fund the acquisition with $2.2 billion of
cash, $0.8 billion of revolver borrowings, and $0.6 billion of
Microchip stock and equity awards.  The transaction has been
approved by the Board of Directors of Microchip and Atmel and is
expected to close in the second fiscal quarter in 2016 (May 2016).
Pro forma leverage will rise to about 4x at close, up from the
low-2x area at Sept. 30, 2015, but S&P expects Microchip's organic
growth trajectory to continue, leading to leverage declining to the
mid-3x within a year of transaction close.

S&P views the acquisition of Atmel as positive, as it broadens
Microchip's product portfolio in microcontrollers (MCUs), estimated
to account for about 60% of the combined company's total revenues,
to include ARM-based microcontrollers and a greater focus on
wireless connectivity.  However, the MCU market is highly
fragmented and includes strong competition from larger
semiconductor firms with greater financial resources. Additionally,
despite Microchip's aggressive acquisition strategy over the past
few years, it has yet to demonstrate the ability to integrate an
acquisition of Atmel's size.  These factors are partially offset by
Microchip's strong market position within the 8-bit MCU sub-segment
and improving market position within the 32-bit MCU sub-segment,
each representing about 30% of the total MCU market in 2015, and a
healthy MCU market growth environment. Microchip, together with
Atmel, will become the third largest MCU provider by revenues.  S&P
estimates the combined company will have about 20% and less than
10% of revenues coming from analog and memory products,
respectively.  S&P expects Microchip to achieve consistent organic
revenue growth over the next two years, benefitting from the
secular growth trends in Internet of Things, which includes
increasing MCU content.

The stable outlook reflects S&P's view that the company will
continue to experience organic revenue growth, successfully
integrate its recent acquisitions and achieve identified cost
synergies, leading to pro forma leverage declining to below 4x
within 12 months post-transaction close.



MILLENNIUM HEALTH: S&P Suspends 'D' Corporate Credit Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services suspended its 'D' corporate
credit rating on Millennium Health LLC.  At the same time S&P
suspended its 'D' issue level rating on the company's senior
secured term loan.  S&P is also suspending its '4' recovery rating
on the company's term loan.

"Our suspension of the ratings on Millennium reflects a lack of
information to satisfactorily assess the company and make a
well-informed ratings decision," said Standard & Poor's credit
analyst David Peknay.  If the company provides sufficient
information within 90 days and discusses its plans for the company,
S&P could reconvene a rating committee and assign a rating.
However, if the level of information remains insufficient or is not
of satisfactory quality, S&P will subsequently withdraw the ratings
after 90 days.



MOLYCORP INC: Eyes Chapter 11 Bankruptcy Exit in April
------------------------------------------------------
Alan Zimmerman, writing for Forbes, reports that Molycorp Inc. sees
itself exiting Chapter 11 bankruptcy protection in April 2016 and
is likely to wind up in the hands of either senior lender Oaktree
Capital Management or a third-party buyer (with a group of 10%
noteholders still in the mix with an outside chance).

According to Forbes, the effective date of the Company's
reorganization plan would occur on April 8.

Forbes says that the Company's fate should be clear by the middle
of March at the latest.

Forbes relates that the Company filed a second amended
reorganization plan and disclosure statement.  The report explains
that where the Company's initial plan called for a sale of the
Company that would toggle to a standalone plan if certain
net-proceed thresholds were not met, the new plan called for a
standalone reorganization plan as the baseline that could toggle to
a sale option under certain circumstances, provided the sale
generated net proceeds to repay Oaktree Capital.  The report adds
that the amended plan provided for a distribution to unsecured
creditors under the standalone option in the form of warrants, and
extended the Company's proposed confirmation timeline by about five
weeks, contemplating a confirmation hearing on March 14.

Forbes recalls that on Jan. 14, 2016, the Bankruptcy Court: (i)
extended the exclusive period for the Company to file and solicit
votes to a reorganization plan through the date on which the
Bankruptcy Court reaches a decision on reorganization plan
confirmation, provided that under certain circumstances the
creditors' committee and the ad hoc panel of 10% noteholders would
have the right to seek exclusivity termination; (ii) authorized the
creditors' committee to file its adversary action against Oaktree
Capital, which it did on Jan. 15, 2016; and (iii) approved bidding
procedures for the sale of the Company's assets that, among other
things, provides that the Company would not proceed with any sale
unless the Bankruptcy Court confirms either the Company's proposed
reorganization plan or a different plan as long as it provides
Oaktree Capital "with the same treatment and benefits as the
[current] plan."


The bidding procedures, according to Forbes, name the unsecured
creditors' committee and the ad hoc panel of 10% noteholders as
"consultation parties" in evaluating bids and entitle the Company
to name a stalking-horse bidder before Feb. 19 under an agreement
that would provide, among other things, a 3% breakup fee (although
it is worth noting that neither Oaktree nor the 10% noteholders
would be entitled to a breakup fee).  The report says that the bid
deadline would be Feb. 26, and an auction, if required, would be
held on March 4.  The report adds that the hearing to approve a
sale and confirm the plan was set back an additional week from the
prior plan, to March 28, 29, and 30, and April 1.  

                       About Molycorp Inc.

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

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

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

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

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

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

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

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

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

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


MOLYCORP INC: Files Amended Reorganization Plan
-----------------------------------------------
BankruptcyData reported that Molycorp Inc. filed with the U.S.
Bankruptcy Court an Amended Chapter 11 Joint Plan of Reorganization
and related Disclosure Statement.

According to the Disclosure Statement, "The result of the
organizational structure and lien priorities, in addition to its
rights to the pari passu collateral shared with the 10%
Noteholders, Oaktree is entitled to substantially all of the value
attributable to the Downstream Businesses (except for certain
limited amounts payable on account of Intercompany Claims) until it
is paid in full before any value is available for creditors who are
either structurally junior (i.e., higher up in the corporate
organizational structure) or junior in priority, for example, the
10% Noteholders and the Holders of General Unsecured Claims against
Molycorp.  The Plan respects these priorities and distributes value
accordingly...The Plan requires that the Entire Company Sale must
be approved in connection with confirmation of the Plan. If the
Bankruptcy Court determines that the Oaktree Prepetition Claims
should be disallowed in whole or in part, the Debtors will proceed
with confirmation and consummation of the Plan if the Entire
Company Sale Trigger has occurred, provided that the portion of the
cash payable to Oaktree under the Plan equal to the disallowed
amount shall be put in an escrow account and not distributed to
creditors pending resolution of any and all appeals by Oaktree of
such order... If the Entire Company Sale Trigger does not occur,
and the Bankruptcy Court determines that the Oaktree Prepetition
Claims should be disallowed in whole or in part, the Debtors shall
not proceed with confirmation and consummation of the Plan and the
Bid Procedures will no longer apply, provided that the Debtors may
consummate the Molycorp Minerals Assets Sale outside of the Plan."
The Court subsequently approved the Disclosure Statement.

                       About Molycorp Inc.

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

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

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

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

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

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

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

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

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

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


MOLYCORP INC: Judge to Hear Bloomberg Objections To Leak Hunt
-------------------------------------------------------------
Jeff Montgomery at Bankruptcy Law360 reported that a Delaware
bankruptcy judge reversed himself on Jan. 20, 2016, and agreed to
hear Bloomberg News objections to the court's collection of sworn
statements on news leaks involving Molycorp Inc.'s $1.9 billion
Chapter 11 reorganization.

U.S. Bankruptcy Judge Christopher S. Sontchi, who had denied
Bloomberg's emergency request to intervene in the process on
Tuesday, said on Jan. 20, his decision was a mistake.  He also
immediately scheduled a hearing on the issue for Jan. 22 morning,
with the news company permitted to intervene and participate.

                       About Molycorp Inc.

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

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

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

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

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

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

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

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

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

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


MONTREAL MAINE: Insurers Barred from Suing Western Petroleum
------------------------------------------------------------
Robert J. Keach, as trustee of Montreal Maine & Atlantic Railway,
Ltd., sought and obtained from the U.S. Bankruptcy Court for the
District of Maine, an order:

     (i) enforcing the Releases and Injunctions provided for in
         the Trustee's Revised First Amended Plan of Liquidation
         Dated July 15, 2015 (as amended October 8, 2015), which
         was confirmed by the Court on Oct. 9, 2015, as against
         Zurich American Insurance Company and Lexington
         Insurance Company, and

    (ii) imposing sanctions on the Insurance Plaintiffs in the
         form of the costs and expenses of the Trustee in
         connection with bringing the motion.

A copy of the order is available for free at:

    http://bankrupt.com/misc/MMAR_1874_Plan_Injunction.pdf

According to the Motion, the Insurance Plaintiffs seek to continue
their lawsuit against a Released Party, Western Petroleum Company,
for claims arising out of the Derailment in direct contravention of
the Court's order confirming the Plan, as well as the Chapter 15
Recognition and Enforcement Order, which, among other things,
permanently enjoins the pursuit of claims related to the Derailment
against Released Parties.

According to Timothy J. McKeon, Esq., at Bernstein, Shur, Sawyer &
Nelson, P.A., the Insurance Plaintiffs are aware of the release and
injunction provisions of the Plan; yet nevertheless refuse to cease
their pursuit of the Action, baselessly, and without credible legal
or factual support, arguing they are not bound by either the Plan
or the Confirmation Order.

Judge Peter G. Cary approved the Trustee's Motion in its entirety,
ordering that:

   * The Plaintiffs are enjoined from the continued prosecution
     of the Action against Western Petroleum, and shall dismiss
     the Action, with prejudice.

   * The Trustee and/or Western Petroleum are authorized to take
     all actions necessary to effectuate the relief granted
     pursuant to the Order.

   * The Plaintiffs will reimburse the Trustee for his attorneys'
     fees and costs related to bringing and prosecuting the
     Motion in the amount set forth in the Trustee's Affidavit of
     Costs and Expenses filed with the Court at the hearing on
     the Motion.

                       About Montreal Maine

Montreal, Maine & Atlantic Railway Ltd., operated the train that
derailed and exploded in July 2013, killing 47 people and
destroying part of Lac-Megantic, Quebec.

The Company sought bankruptcy protection (Bankr. D. Maine Case No.
13-10670) on Aug. 7, 2013, with the aim of selling its business.
ts Canadian counterpart, Montreal, Maine & Atlantic Canada Co.,
meanwhile, filed for protection from creditors in Superior Court of
Quebec in Montreal.

Montreal, Maine & Atlantic Canada Co. ("MMA Canada"), the Canadian
unit of Chapter 11 debtor Montreal, Maine & Atlantic Railway Ltd.
("MMA"), on July 20, 2015, filed a Chapter 15 bankruptcy petition
(Bankr. D. Maine Case No. 15-20518) in Portland, Maine, to seek
recognition and enforcement in the U.S. of the order by the Quebec
Court approving MMA Canada's plan to pay off victims of the July
2013 derailment.

The law firm of Verrill Dana serves as counsel to the Debtor.

Robert J. Keach, Esq., at Bernstein, Shur, Sawyer, and Nelson,
P.A., is the Chapter 11 trustee.  Lindsay K. Zahradka and and D.
Sam Anderson, Esq. serves as his counsel.  Development
Specialists,
Inc., serves as his financial advisor; and Gordian Group, LLC,
serves as his investment banker.

Justice Martin Castonguay oversees the case in Canada.  Andrew
Adessky at Richter Consulting was named CCAA monitor.  The CCAA
Monitor is represented by Sylvain Vauclair at Woods LLP.  MM&A
Canada is represented by Patrice Benoit, Esq., at Gowling LaFleur
Henderson LLP.

The U.S. Trustee appointed a four-member official committee of
derailment victims.  The Official Committee is represented by
Richard P. Olson, Esq., at Perkins Olson; and Luc A. Despins,
Esq., at Paul Hastings LLP.

The unofficial committee of wrongful death claimants is
Represented
by George W. Kurr, Jr., Esq., at Gross, Minsky & Mogul, P.A.;
Daniel C. Cohn, Esq., at Murtha Cullina LLP; Peter J. Flowers,
Esq., at Meyers & Flowers, LLC; Jason C. Webster, Esq., at The
Webster Law Firm; and Mitchell A. Toups, Esq., at Weller, Green
Toups & Terrell LLP.


MONTREAL MAINE: Payout Plan Became Effective Dec. 22
----------------------------------------------------
Montreal Maine & Atlantic Railway, Ltd.'s Revised First Amended
Plan of Liquidation, which created a C$446 million settlement fund
for the benefit of all victims of the train derailment in 2013 that
killed 47 people, became effective Dec. 22, 2015.

On Oct. 9, 2015, the U.S. Bankruptcy Court for the District of
Maine entered an order confirming the Trustee's Revised First
Amended Plan of Liquidation Dated July 15, 2015 (As Amended on
October 8, 2015).  A copy of the Order is available for free at:

     http://bankrupt.com/misc/MMAR_1801_Plan_Order.pdf

The time for parties to appeal the Confirmation Order expired on
Oct. 23, 2015, and no notice of appeal of the Confirmation Order
was timely filed in the Chapter 11 Case.  On Oct. 24, 2015, the
Confirmation Order became a Final Order.

On Nov. 18, 2015, the U.S. District Court for the District of Maine
entered an order adopting the Bankruptcy Court's order confirming
the Plan ("Adopting Order").  On Dec. 19, 2015, the Adopting Order
became a Final Order.  A copy of the Adopting Order is available
for free at:

     http://bankrupt.com/misc/MMAR_1868_Plan_Ord_DC.pdf

All conditions to the Effective Date of the Plan, as set forth in
Section 9.3 of the Plan and paragraphs 47 and 48 of the
Confirmation Order, have been satisfied.

On Dec. 22, 2015, the Effective Date of the Plan occurred.

Pursuant to Section 2.2 of the Plan, all persons seeking an award
by the Bankruptcy Court of compensation for services rendered or
reimbursement of expenses incurred through and including the
Effective Date under Sections 326, 328, 330, and 331 of the
Bankruptcy Code or filing applications for allowance of
administrative expense claims arising under Section 503(b)(2),
503(b)(3), 503(b)(4), or 503(b)(5) of the Bankruptcy Code will file
their respective final applications for allowance of compensation
for services rendered and reimbursement of expenses incurred no
later than Feb. 19, 2016.

                        The Chapter 11 Plan

Judge Peter G. Cary of the U.S. Bankruptcy Court of the District of
Maine on Oct. 9, 2015, entered an order confirming the Revised
First Amended Plan of Liquidation filed by the Chapter 11 trustee
of Montreal Maine & Atlantic Railway, Ltd.

The Plan is premised on the creation of a C$446 million settlement
fund for the benefit of all victims of the train derailment in 2013
that killed 47 people.  

The Plan is funded in part by contributions and settlement
agreements with various parties with potential liability arising
out of the derailment, and including, without limitation, such
parties' insurance companies.  

The Trustee, the Monitor and MMA Canada worked collectively from
the commencement of the cases to engage in settlement discussions
with various parties identified as potentially liable for damages
arising from the Derailment.  As a result of these negotiations,
approximately 25 entities or groups of affiliated entities entered
into Settlement Agreements, whereby the Released Party will
contribute Settlement Funds in exchange, inter alia, for a full and
final release of all Claims arising out of the Derailment,
including any Claims for contribution and/or indemnity asserted by
third parties, as well as the protection of a global injunction
barring assertion of any Derailment-related Claims against the
Released Parties.  The settlement funds constitute, as of Sept. 17,
2015, approximately C$446 million.

The Trustee's Chapter 11 plan will distribute the C$446 million
(US$343 million) to creditors, including families of the 48 people
who died during the 2013 trail derailment accident.  According to
the latest iteration of the Disclosure Statement, the Plan proposes
to satisfy claims on account of the derailment as follows:

     C$191 million -- Government agencies, including the Province
                      of Quebec, city of Lac-Megantic and the
                      Canadian government will split over C$191
                      million in full and final satisfaction of
                      their allowed claims.

     C$111 million -- Families of those who died are expected to
                      receive over C$111 million to satisfy their
                      allowed wrongful death claims.  The WD
                      Trust will make distributions to creditors
                      holding derailment wrongful death claims.

      C$48 million -- Holders of allowed derailment moral damages
                      and personal-injury claims are in line for
                      more than C$48 million.

      C$41 million -- Holders of allowed derailment property
                      damage claims are to receive more than
                      C$41 million.

      C$16 million -- Holders of allowed derailment subrogated
                      insurance claims will receive more than
                      C$16 million.

If the aggregate value of the derailment property damage claims is
reduced below C$75 million, any difference between C$75 million and
the revised aggregate value of these claims will be allowed and
added, on a pro-rated basis, to the value of the other derailment
claims.

With respect to non-derailment claims, the estate representative
will distribute the Debtor's cash and convert to cash all other
remaining property of the Debtor, including causes of action.  The
Plan provides that:

  * Assets are expected to be sufficient to pay all
    administrative expense claims and priority tax claims.

  * Holders of secured claims are unimpaired.

  * General unsecured claims are estimated to aggregate between
    approximately $49 and $66 million (taking into account claims
    which will be released under settlement agreements).
    Depending on the amount of residual assets, which is
    dependent on the outcome of litigation or settlements,
    holders of allowed general unsecured claims will receive
    distributions on a range of 1.3% to 88.4% of the allowed
    amount of their claims.

  * There will be no recovery for holders of subordinated claims
    unless and until all allowed general unsecured claims are
    paid in full.  At this time, the Trustee does not expect that
    holders of subordinated claims will receive anything under
    the Plan.

  * There will be no recovery for holders of equity interests
    unless and until all allowed claims are paid in full.  At
    this time, the Trustee does not expect that holders of equity
    interests will receive any distributions under the Plan.

A copy of the Trustee's Revised First Amended Plan of Liquidation
dated July 15, 2015, as amended on Oct. 8, 2015, is available for
free at:

    http://bankrupt.com/misc/MMAR_1822_Rev_1st_Am_Plan.pdf

Chapter 11 Trustee Robert J. Keach's attorneys:

         Timothy J. McKeon
         BERNSTEIN, SHUR, SAWYER & NELSON, P.A.
         100 Middle Street
         P.O. Box 9729
         Portland, ME 04104
         Telephone: (207) 774-1200
         Facsimile: (207) 774-1127

                       About Montreal Maine

Montreal, Maine & Atlantic Railway Ltd., operated the train that
derailed and exploded in July 2013, killing 47 people and
destroying part of Lac-Megantic, Quebec.

The Company sought bankruptcy protection (Bankr. D. Maine Case No.
13-10670) on Aug. 7, 2013, with the aim of selling its business.
ts Canadian counterpart, Montreal, Maine & Atlantic Canada Co.,
meanwhile, filed for protection from creditors in Superior Court of
Quebec in Montreal.

Montreal, Maine & Atlantic Canada Co. ("MMA Canada"), the Canadian
unit of Chapter 11 debtor Montreal, Maine & Atlantic Railway Ltd.
("MMA"), on July 20, 2015, filed a Chapter 15 bankruptcy petition
(Bankr. D. Maine Case No. 15-20518) in Portland, Maine, to seek
recognition and enforcement in the U.S. of the order by the Quebec
Court approving MMA Canada's plan to pay off victims of the July
2013 derailment.

The law firm of Verrill Dana serves as counsel to the Debtor.

Robert J. Keach, Esq., at Bernstein, Shur, Sawyer, and Nelson,
P.A., is the Chapter 11 trustee.  Lindsay K. Zahradka and and D.
Sam Anderson, Esq. serves as his counsel.  Development
Specialists,
Inc., serves as his financial advisor; and Gordian Group, LLC,
serves as his investment banker.

Justice Martin Castonguay oversees the case in Canada.  Andrew
Adessky at Richter Consulting was named CCAA monitor.  The CCAA
Monitor is represented by Sylvain Vauclair at Woods LLP.  MM&A
Canada is represented by Patrice Benoit, Esq., at Gowling LaFleur
Henderson LLP.

The U.S. Trustee appointed a four-member official committee of
derailment victims.  The Official Committee is represented by
Richard P. Olson, Esq., at Perkins Olson; and Luc A. Despins,
Esq., at Paul Hastings LLP.

The unofficial committee of wrongful death claimants is
Represented
by George W. Kurr, Jr., Esq., at Gross, Minsky & Mogul, P.A.;
Daniel C. Cohn, Esq., at Murtha Cullina LLP; Peter J. Flowers,
Esq., at Meyers & Flowers, LLC; Jason C. Webster, Esq., at The
Webster Law Firm; and Mitchell A. Toups, Esq., at Weller, Green
Toups & Terrell LLP.


NCI BUILDING: S&P Raises CCR to 'BB-', Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Houston-based NCI Building Systems Inc. to 'BB-'
from 'B+'.  The outlook is stable.

At the same time, S&P raised its issue-level rating on NCI's $238
million term loan due 2019 to 'BB+' from 'BB'.  The recovery rating
is '1', which indicates S&P's expectation of very high (90% to
100%) recovery for lenders in the event of a default.  S&P also
raised its issue-level rating on NCI's $250 million unsecured notes
due 2023 to 'BB-' (the same as the corporate credit rating) from
'B+'.  The recovery rating on the notes is '4', which indicates
S&P's expectation of average (30% to 50%, upper end of the range)
recovery for lenders in the event of a default.

The stable outlook reflects what Standard & Poor's views as
moderate growth expectations in NCI's markets in 2016.  S&P expects
the company's leverage to decline to about 3.1x over the next 12
months due to a commitment to repay debt, moderate sales growth,
and slightly elevated EBITDA margins.  S&P also expects the company
to continue to maintain strong liquidity based on its asset-based
revolving credit borrowing capacity, substantial cash on hand, and
modest capital spending.

S&P could lower its rating on NCI if the company were to increase
leverage toward the 5x mark in 2016.  S&P could also consider
lowering its rating if a moderate recession caused a reversal in
nonresidential construction trends such that NCI's EBITDA levels
after the acquisition were below $80 million, resulting in debt
leverage approaching 5x.  However, S&P's economists think there is
only a 10% to 15% probability of a new recession.

S&P could raise its corporate credit rating if NCI's operating
performance leads to sustained debt on an adjusted basis of less
than 3x over the next 12 months, consistent with an intermediate
financial risk profile.  Also necessary for an upgrade would be a
commitment from NCI's owners and/or management that the risk of
additional leveraging would remain low.

S&P could also raise its ratings if CD&R further divests its
ownership in NCI to below 40% and relinquishes any remaining
operational and strategic control, in accordance with S&P's
criteria regarding companies owned by financial sponsors.



NDB COMPANY: Board Approves Plan of Liquidation & Dissolution
-------------------------------------------------------------
N.D.B. Company Inc., a Texas corporation, has announced that the
Company's Board of Directors has unanimously approved a plan of
liquidation and dissolution of the Company.  The outstanding shares
of the Company are held in trust for the benefit of the
shareholders of North Dallas Bank & Trust Co.  If the Plan is
approved by the Trustees and a 2/3 total vote of the beneficial
interest owners, the Company plans to make a one-time distribution
of cash proceeds, if any, from the liquidation of the Company's
assets after provisions for the Company's liabilities to the
shareholders of record of the Bank at the date of distribution.
The Company is currently unable to predict the time required to
complete the plan or the precise timing or amount of any
distribution pursuant to the plan.

North Dallas Bank & Trust Co. is an independent bank established in
1961 with current locations in Dallas, Plano, Irving, Frisco and
Addison, Texas.


NET ELEMENT: Kenges Rakishev Reports 18.4% Stake as of Jan. 21
--------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Kenges Rakishev disclosed that as of Jan. 21, 2016, he
beneficially owns 21,986,049 shares of common stock of Net Element,
Inc., representing 18.4 percent of the shares outstanding.  A copy
of the regulatory filing is available for free at
http://is.gd/gBpcRZ

                        About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $10.18 million on $21.2
million of net revenues for the 12 months ended Dec. 31, 2014,
compared to a net loss of $48.3 million on $18.7 million of net
revenues for the 12 months ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $26.17 million in total
assets, $17.03 million in total liabilities, and $9.14 million in
total stockholders' equity.

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification in its report on the consolidated financial
statements for the year ended Dec. 31, 2014.  The accounting firm
said that the Company has suffered recurring losses from operations
and has used substantial amounts of cash to fund its operating
activities that raise substantial doubt about its ability to
continue as a going concern.


NET ELEMENT: Signs Second Letter Agreement with Director
--------------------------------------------------------
Net Element, Inc., entered into a Second Additional Letter
Agreement with Kenges Rakishev, an accredited investor on Jan. 21,
2016.  The Second Additional Agreement further modified the terms
of the Letter Agreement, dated Sept. 11, 2015, as modified by that
certain Additional Letter Agreement dated Oct. 7, 2015, with
certain accredited investors listed on the signature pages attached
to that Letter Agreement.  Mr. Rakishev is a director of the
Company.

The Second Additional Agreement provided for the second and final
round of $910,000 equity financing to the Company contemplated by
the Original Agreement in consideration for the issuance by the
Company to the Investor of (i) 4,664,275 restricted shares of the
Company's common stock based on $0.1951 per share, equal to the
closing trading price of the Company Common Stock reported on The
NASDAQ Capital Market on Jan. 20, 2016, the trading date
immediately preceding the date when the Investor and the Company
committed to the transactions contemplated in the Second Additional
Agreement; and (ii) options to purchase 4,664,275 restricted shares
of the Company's common stock.

The Company intends to use the proceeds from the sale of the
Restricted Shares and the Restricted Options for general working
capital purposes.

However, such issuance of Restricted Shares and the Restricted
Options is subject to the Company's stockholders approval within
120 days from the date of Second Additional Agreement.

Each Restricted Option will expire on the fifth annual anniversary
of the date of the Second Additional Agreement and shall be
exercisable (prior to its expiration) into one (1) Restricted Share
at the exercise price equal to $0.2146 (which is 110% of the
closing trading price of the Company Common Stock reported on The
NASDAQ Capital Market on Jan. 20, 2016, the trading date
immediately preceding the date when the Investor and the Company
committed to the transactions contemplated in the Second Additional
Agreement).  The Investor may elect to exercise his Restricted
Options through a cashless exercise, in which case the Investor
would receive upon such exercise the "net number" of shares of
Company common stock determined according to the formula set forth
in the Restricted Option.

                      About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $10.18 million on $21.2
million of net revenues for the 12 months ended Dec. 31, 2014,
compared to a net loss of $48.3 million on $18.7 million of net
revenues for the 12 months ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $26.17 million in total
assets, $17.03 million in total liabilities, and $9.14 million in
total stockholders' equity.

BDO USA, LLP, in Miami, Florida, issued a "going concern"
qualification in its report on the consolidated financial
statements for the year ended Dec. 31, 2014.  The accounting firm
said that the Company has suffered recurring losses from operations
and has used substantial amounts of cash to fund its operating
activities that raise substantial doubt about its ability to
continue as a going concern.


NEW BEGINNINGS: Case Summary & 30 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

       Debtor                                        Case No.
       ------                                        --------
       New Beginnings Healthcare & Rehab, LLC        16-10272
       4704 Hixson Pike
       Hixson, TN 37343

       Abbeville Healthcare & Rehab, LLC             16-10273
       Campus Healthcare & Rehab, LLC                16-10275
       Cedarcreek Healthcare & Rehab, LLC            16-10276
       Eastman Healthcare & Rehab, LLC               16-10277
       Edwards Redeemer Healthcare & Rehab, LLC      16-10278
       Goodwill Healthcare & Rehab, LLC              16-10279
       Jeffersonville Healthcare & Rehab, LLC        16-10280
       Mt Pleasant Healthcare & Rehab, LLC           16-10282
       Oceanside Healthcare & Rehab, LLC             16-10283
       Pinewood Healthcare & Rehab, LLC              16-10284
       Rockmart Healthcare & Rehab, LLC              16-10285
       Savannah Beach Healthcare & Rehab, LLC        16-10286
       Woodlands Healthcare & Rehab, LLC             16-10287

Nature of Business: Health Care

Chapter 11 Petition Date: January 22, 2016

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Chattanooga)

Judge: Hon. Nicholas W. Whittenburg

Debtors' Counsel: David J. Fulton, Esq.
                  SCARBOROUGH & FULTON
                  701 Market Street, Suite 1000
                  Chattanooga, TN 37402
                  Tel: 423- 648-1880
                  Fax: (423) 648-1881
                  Email: djf@sfglegal.com

Estimated Assets: $0  to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Debbie Jones, member.

A Consolidated list of the Debtors' 30 largest unsecured creditors
is available for free at http://bankrupt.com/misc/tneb16-10272.pdf


NORTEL NETWORKS: Milbank Tweed Files Supplemental 2019 Statement
----------------------------------------------------------------
Milbank, Tweed, Hadley & McCloy LLP filed a supplemental statement
to disclose that as Jan. 13, 2016, the law firm represents only the
ad hoc group of bondholders in connection with the Chapter 11 cases
of Nortel Networks Inc. and its affiliated debtors.

The bondholders hold claims or act as investment managers and
advisors to funds or accounts that hold claims against the estates
resulting from the purchase of the bonds issued or guaranteed by
the companies, according to the filing.

Milbank Tweed made the disclosure pursuant to Rule 2019 of the
Federal Rules of Bankruptcy Procedure.

                     About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates commenced
a proceeding with the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act (Canada) seeking relief from
their creditors.  Ernst & Young was appointed to serve as monitor
and foreign representative of the Canadian Nortel Group.  That same
day, the Monitor sought recognition of the CCAA Proceedings in U.S.
Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter
15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of NNI's
European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy Court
for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New York,
serve as the U.S. Debtors' general bankruptcy counsel; Derek C.
Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in Wilmington,
serves as Delaware counsel.  The Chapter 11 Debtors' other
professionals are Lazard Freres & Co. LLC as financial advisors;
and Epiq Bankruptcy Solutions LLC as claims and notice agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of
Long-Term Disability Participants tapped Alvarez & Marsal
Healthcare Industry Group as financial advisor.  The Retiree
Committee is represented by McCarter & English LLP as Delaware
counsel, and Togut Segal & Segal serves as the Retiree Committee.
The Committee retained Alvarez & Marsal Healthcare Industry Group
as financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.
The deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.  The question of
how to divide $7.3 billion raised in the international bankruptcy
of Nortel Networks Corp. was answered on May 12, 2015, by two
judges, one in the U.S. and one in Canada.

According to The Wall Street Journal, Justice Frank Newbould of The
Ontario Superior Court of Justice in Toronto and Judge Kevin Gross
of the U.S. Bankruptcy Court in Wilmington, Del., agreed on the
outcome: a modified pro rata split of the money.


PEABODY ENERGY: Might Run Out of Cash in 9 Months, Bankr. Possible
------------------------------------------------------------------
Tim Loh at Bloomberg Business reports that investors are wondering
if Peabody Energy Corp. could be the next to file for bankruptcy.


"Peabody's on everybody's list," Bloomberg Business quoted Spencer
Cutter, a Bloomberg Intelligence analyst, as saying.

The Company said in a filing that it had $1.4 billion in liquidity
including cash and availability under its revolving loans as of
Nov. 5, 2015.  Cash decreased to $167.4 million on that day from
$334.3 million at the end of September 2015, Bloomberg Business
relates.  Bloomberg data show that at that rate, the Company is
going to run out of cash in nine months.

Bloomberg Business states that the Company's cushion will be
pressured with coal prices so low.  According to Bloomberg data
interest expenses are more than its cash on hand.  Bloomberg
Business relates that for the 12 months ended Sept. 30, 2015, the
Company burned through $445 million.

Bloomberg Business says that the Company's shares have been cut
roughly in half since Arch Coal Inc. filed for Chapter 11
protection on Jan. 11, 2016, closing at $3.38 last Wednesday.

Bloomberg Business, citing Financial Industry Regulatory
Authority's bond-price reporting system Trace, reports that the
Company's 6.5% unsecured bonds have lost 27%, or 3.1 cents on the
dollar, over the same period, most recently trading on Jan. 14,
2016, at 8.6 cents and yielding 99%.

The Company and Arch, Bloomberg Business recalls, were among the
miners that raised a total of $6.4 billion of debt in 2010 and
2011, betting that prices for metallurgical coal would continue to
increase due to China's growing demand to build its cities.  The
report states that Goldman Sachs Group Inc. forecasts benchmark
metallurgical coal prices to drop to $75 in 2016.

According to Bloomberg Business, the Company has been working on a
debt exchange with its lenders since 2015, but has yet to agree to
a deal.

Peabody Energy Corp. is based in St. Louis, Missouri, and is the
largest coal miner in the U.S.

                       *     *     *
                
As reported by the Troubled Company Reporter on Jan. 20, 2016,
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on St. Louis-based Peabody Energy Corp. to 'CCC+'
from 'B'.


POSTMEDIA NETWORK: Moody's Lowers CFR to Caa2, Outlook Negative
---------------------------------------------------------------
Moody's Investors Service downgraded Postmedia Network Inc.'s
corporate family rating to Caa2 from B3, probability of default
rating to Caa2-PD from B3-PD, first lien notes rating to B1 from
Ba3, and second-lien notes rating to Caa3 from Caa1.  The company's
speculative grade liquidity rating was also lowered to SGL-4 from
SGL-3 and the ratings outlook was changed to negative from stable.

"Postmedia's results following its April 2015 acquisition of the
Sun Media assets have been worse than we expected.  The downgrade
was a result of our lack of confidence that the company will be
able to refinance its 2017 and 2018 debt maturities at par", said
Peter Adu, a Moody's analyst.

Ratings Downgraded:

  Corporate Family Rating, to Caa2 from B3

  Probability of Default Rating, to Caa2-PD from B3-PD

  8.25% First Lien Notes due August 2017, to B1 (LGD2) from Ba3
   (LGD2)

  12.5% Second Lien Notes due July 2018, to Caa3 (LGD4) from Caa1
   (LGD5)

Ratings Lowered:

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

Outlook Action:
  Changed to Negative from Stable

RATINGS RATIONALE

Postmedia's Caa2 CFR primarily reflects substantial refinancing
risk in 2017 and 2018 caused by a combination of high leverage
(adjusted Debt/EBITDA of 6x), high business risk from a continuing
steep revenue decline from its traditional Canadian newspaper
business, and weak ability to generate replacement revenue from
digital content.  The rating considers that digital's low entry
barriers and non-existent geographic boundaries will limit the
company's potential to compensate for the decline in print
revenue.

Postmedia has weak liquidity (SGL-4).  It had cash of $32 million
at Q1/2016 and Moody's expects annual free cash flow around $20
million in the next year, which is likely sufficient to pay
mandatory debt repayments of about $20 million per year.  However,
Postmedia will not have enough cash to fund its upcoming debt
maturities in August 2017 and July 2018, totaling $660 million. The
company does not have a revolving credit facility.  Postmedia has
limited alternative liquidity generating potential as individual
asset sale proceeds above $10 million must be used to repay debt
rather than to enhance liquidity.

The negative outlook reflects refinancing risk with the company's
upcoming debt maturities given the high business risk of the
newspaper publishing industry and Postmedia's high leverage.  The
outlook could be stabilized if the company is able to refinance its
debt maturities without impairment.

The ratings will be downgraded further if it is highly likely the
company will default on its debt obligations.  A ratings upgrade
will be considered if the company successfully refinances its debt
maturities at par, demonstrates improvement in liquidity, and
stabilizes revenue and EBITDA.

The principal methodology used in these ratings was Global
Publishing Industry published in December 2011.

Postmedia Network Inc. is the largest publisher by circulation of
English language daily newspapers in Canada.  Revenue for the last
twelve months ended Nov. 30, 2015, was $832 million.  The company
is headquartered in Toronto.



PRIMORSK INTL: Gets OK to Tap Cash; Lender Questions NY Case Venue
------------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that oil tanker
operator Primorsk International Shipping received approval on Jan.
20, 2016, from a New York bankruptcy judge to tap encumbered cash
in order to keep its operation afloat in Chapter 11, but a major
lender questioned the company's decision to seek court protection
in the Empire State.

During a court hearing in Manhattan, U.S. Bankruptcy Judge Martin
Glenn gave Primorsk interim approval to tap cash collateral that
the company said it needs in order to continue operating a fleet of
nine oil tankers in the short term.

                   About Primorsk International

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
petitions were signed by Holly Felder Etlin, chief restructuring
officer.

Primorsk estimated assets and liabilities between $100 million and
$500 million.

Judge Martin Glenn presides over the cases.

Andrew G. Dietderich, Esq., at Sullivan & Cromwell LLP serves as
the Debtors' bankruptcy counsel.  AlixPartners, LLP, is the
Debtors' financial and restructuring
advisor.


PT HOLDCO: Ontario Court Names FTI Consulting as Monitor
--------------------------------------------------------
The Ontario Superior Court of Justice in Toronto appointed FTI
Consulting Canada Inc. as monitor for the bankruptcy cases of PT
Holdco Inc. and its debtor-affiliates.  FTI Consulting can be
reached at:

   FTI Consulting Canada Inc.
   Monitor of PT Holdco Inc. et al.
   TD Warehouse Tower
   79 Wellington Street West
   Suite 2010, P.O. Box 104
   Toronto, Ontario M5K 1G8
   Tel: 416-649-8062
   Fax: 1-855-649-8072
   Email: primus@fticonsulting.com

                         About PT Holdco

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

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

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

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


PTC SEAMLESS: Court OKs Settlement with Black Diamond, Committee
----------------------------------------------------------------
Judge Thomas P. Agresti of the United States Bankruptcy Court for
the Western District of Pennsylvania, after consideration of PTC
Seamless Tube Corp., f/k/a PTC Alliance Pipe Acquisition LLC's
motion seeking authority from the Bankruptcy Court that the
settlement with Black Diamond, the Pre-Petition Term Agent, and the
Official Committee of Unsecured Creditors, ordered that the motion
is granted in its entirety and all objections to the motion is
overruled.

Under the settlement agreement, the Debtor, the Pre-Petition Term
Agent, and the Creditors' Committee agreed to resolve the Committee
Claims in a manner that avoids uncertainty in outcome and the
expense and delay of litigation, by providing the Debtor's general
unsecured class a carve-out from the value received by the Debtor's
Estate in the sale of the Debtor’s Assets.

The terms of the Settlement, among others, includes that:

   (a) In the event the Debtor's Assets are acquired by the Term
Lenders or Black Diamond through a "Credit Bid Scenario," unsecured
creditors of the Debtor would receive warrants in the Term Lender
or Black Diamond owned or controlled company that is established to
own the Assets equal to 5% of the common equity in this company,
with the strike price for the 5% warrants proportional to the
purchase price for the assets.

   (b) In the event that the Debtor consummates the Proposed Sale
pursuant to the Cash Bid Scenario, the Pre-Petition Term Lenders
will pay to the Committee for distribution to the General Unsecured
Creditors an amount equal to 5% of the cash sale proceeds in excess
of the sum of: (i) the amount received by the DIP Lenders in
repayment of the DIP Facility, (ii) all allowed administrative
expenses incurred by the Debtor in the ordinary course through the
closing of the Proposed Sale pursuant to the Approved Budget and
which amounts will be either funded into escrow for the benefit of
the holders of such administrative expenses claims, or paid at
closing of the Proposed Sale from proceeds of the DIP Facility or
proceeds of the Proposed Sale), and (iii) an agreed-upon wind-down
amount that is not to exceed $200,000.

   (c) Under the scenario where PTC Alliance, Black Diamond, or any
Term Lender owned or controlled company acquires the assets, Term
Lender/Black Diamond Newco will agree to most favored nation status
for pre-petition vendors to the Debtor in excess of $50,000 (other
than Robinson Mechanical) that execute a full release of the
Released Parties.  In a Cash Bid Scenario by a third party, the
Debtor will use reasonable efforts to cause the cash bidder to
agree to most favored nation status for prepetition vendors of the
Debtor.

   (d) Under a Term Lender/Black Diamond Acquisition Scenario, Term
Lender/Black Diamond Newco would include among acquired assets all
potential Avoidance Actions against pre-petition vendors of the
Debtor and Term Lender/Black Diamond Newco would be prohibited from
pursuing the same.  Under a Cash Bid Scenario by a third party, the
Debtor will agree to waive potential bankruptcy avoidance actions
against pre-petition vendors of the Debtor.

   (e) In either the Credit Bid Scenario or the Cash Bid Scenario,
the Committee would consent to the Debtor's stipulations contained
in the Final DIP Order and grant a release of independent claims
and causes of action that the Committee may be able to assert
against the Released Parties and agree not to seek standing to
pursue any derivative claims or causes of action that could be
asserted against the Released Parties.  The Debtor would fully
release any claims or causes of action that could be asserted
against the Released Parties by the Debtor.

Judge Agresti authorized the Debtor, the Committee, the
Pre-Petition Term Agent, and Black Diamond to (a) take all
necessary acts to carry out and implement the Settlement in
accordance with the terms and conditions thereof and (b) execute
any other documentation and perform such other ministerial tasks as
may be necessary to carry out the terms of the Settlement,
including but not limited to the execution of the Settlement
Agreement.

PTC Seamless Tube Corp. f/k/a PTC Alliance Pipe Acquisition LLC is
represented by:

          George T. Snyder, Esq.
          Jeanne S. Lofgren, Esq.
          STONECIPHER LAW FIRM
          125 First Avenue
          Pittsburgh, PA 15222
          Telephone: (412) 391-8510
          Email: gsnyder@stonecipherlaw.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.


QUANTUM CORP: Eric Singer Reports 7.8% Stake as of Jan. 19
----------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Eric Singer disclosed that as of Jan. 19, 2016, he
beneficially owns 20,677,265 shares of common stock of Quantum
Corporation, representing 7.8 percent of the shares outstanding.  A
copy of the regulatory filing is available for free at:

                      http://is.gd/y6sTyB

                       About Quantum Corp.

Based in San Jose, California, Quantum Corp. (NYSE:QTM) --
http://www.quantum.com/-- is a storage company specializing in
backup, recovery and archive.  Quantum provides a comprehensive,
integrated range of disk, tape, and software solutions supported
by a world-class sales and service organization.

Quantum reported net income of $16.7 million on $553 million of
total revenue for the year ended March 31, 2015, compared to a net
loss of $21.5 million on $553 million of total revenue for the year
ended March 31, 2014.

As of Sept. 30, 2015, the Company had $305 million in total assets,
$384 million in total liabilities and a $78.5 million total
stockholders' deficit.


QUICKSILVER RESOURCES: Completes Auction of U.S. Oil & Gas Assets
-----------------------------------------------------------------
Quicksilver Resources Inc. and its U.S. subsidiaries on Jan. 23
disclosed that they have successfully completed a Bankruptcy
Court-approved auction for their U.S. oil and gas assets located
primarily in the Barnett Shale in the Fort Worth basin of North
Texas as well as assets in the Delaware basin in West Texas, which
are concentrated in Pecos County, Texas and to a lesser extent
Crockett and Upton Counties, Texas.  The completion of the auction
follows a months-long marketing process of all of Quicksilver's and
its U.S. subsidiaries' U.S. assets that began in September 2015.
At the auction, which was held on January 20 and 21, 2016,
Quicksilver and its U.S. subsidiaries declared an all-cash bid from
BlueStone Natural Resources II, LLC in the amount of $245 million
the highest or otherwise best bid for the oil and gas assets, and
the successful bid.

Regarding the outcome of the auction, Glenn Darden, President and
CEO of Quicksilver, said, "We believe that the marketing and sales
process was thorough and resulted in a successful outcome.  This
sale maximizes value for the benefit of our creditors in the face
of difficult market conditions."

Quicksilver and BlueStone executed the asset purchase agreement for
the sale of the oil and gas assets on January 22, 2016. Quicksilver
and its U.S. subsidiaries will seek final approval for the sale
from the United States Bankruptcy Court for the District of
Delaware on January 27, 2016.  Quicksilver and its U.S.
subsidiaries intend to continue normal operations pending the
consummation of the sale.

Quicksilver and its U.S. subsidiaries filed voluntary petitions
under chapter 11 of title 11 of the United States Code on March 17,
2015, in the United States Bankruptcy Court for the District of
Delaware.  The chapter 11 cases are being jointly administered
under the case number 15-10585.  Quicksilver's Canadian
subsidiaries were not included in the chapter 11 filing and are not
subject to the requirements of the Bankruptcy Code. The assets of
Quicksilver's Canadian subsidiaries are not included in this sale,
and the sale process for those assets remains ongoing.

The Company's legal advisors are Akin Gump Strauss Hauer & Feld LLP
in the U.S. and Bennett Jones LLP in Canada.  Houlihan Lokey
Capital, Inc. is serving as financial advisor.

                  About Quicksilver Resources

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

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

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

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

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

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

                           *     *     *

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


QUICKSILVER RESOURCES: Creditors Complain of Inadequate Cure Amount
-------------------------------------------------------------------
Cigna Health and Life Insurance Company, Life Insurance Company of
North America, and Cigna Behavioral Health, Inc., TG Barnett
Resources, LP, Oracle America, Inc., successor in interest to
Oracle USA, Inc., and Hyperion Solutions Corporation, the United
States, on behalf of the Department of Interior, through the Office
of Natural Resources Revenue and the Bureau of Land Management,
object to Quicksilver Resources, Inc., et al.'s proposed sale and
bidding procedures.

The creditors object to the Sale Motion particularly in relation to
the proposed assumption and assignment of executory contracts and
unexpired leases.

The creditors oppose the proposed assumption and assignment
because: (i) the Debtors have not fully and accurately identified
all of the Creditors Contracts as contracts to be assumed and
assigned; (ii) the Debtors have not proposed a disposition of any
unassumed Contracts of the Creditors; (iii) the cure amounts
proposed by the Debtors are incorrect and inadequate; (iv) the
Debtors have provided no adequate assurance of future performance;
and (v) the assumption and assignment of any of the Creditors’
Contracts must be consistent with their respective and collective
terms and functions.

As a condition precedent to the assumption and assignment of Cigna
Contracts, Cigna demands that the Debtors must provide for the
proper use and disposition of the plan bank account(s) through
which Employee Healthcare Claims are funded, maintain the required
imprest deposit in the Plan Bank Account and fund all amounts
necessary to process and pay all eligible Employee Healthcare
Claims under the Debtors' Employee Benefits Plan incurred prior to
the Effective Date that have not been submitted, processed and paid
as of the Effective Date.  With specific regard to adequate
assurance of future performance under the ASO Agreement, Cigna
requirs that the Debtors must identify, in advance of any
assignment of the ASO Agreement to any party, the individual(s) at
the proposed assignee: (i) to whom employee and Cigna questions may
be directed relating to the Employee Benefits Plan and the Cigna
Contracts; (ii) who is to receive notices pursuant to certain
sections of the ASO Agreement, and (iii) who is to receive employee
personal health information.  This information is critical to
assure continued processing and payment of Employee Healthcare
Claims, Cigna asserts.

To the extent that the Debtors do not elect to assume and assign
the ASO Agreement as part of the Sale, or otherwise seek to
terminate the ASO Agreement, the Debtors must provide for the
processing and funding of Run-Out Claims which includes payment of
approximately $17,300 of run-out fees to Cigna and the continued
funding of allowed Employee Healthcare Claims throughout the
run-out period, Cigna further asserts.

TG Barnett alleges that the Debtors' proposed assumption and
assignment of the Supplemental Contracts should be denied by the
Court until the time as TG Barnett's objections are satisfactorily
addressed and for such other and further relief as may be
appropriate.

Oracle America argues that the Debtors may not assume and assign
the Oracle Agreements absent Oracle's consent because they pertain
to one or more Licenses of Intellectual Property.  Non-exclusive
patent and copyright licenses create only personal not property
rights in the licensed intellectual property and so are not
assignable in accordance with Federal law which makes non-exclusive
patent licenses non-assignable absent consent of the licensor.  To
enable Oracle to evaluate whether any of the Oracle Agreements are
assignable, and to allow Oracle to assess whether it may accept
performance from other entities, Oracle asks that with respect to
each Oracle Agreement, the Debtors must specify the contract (a)
name; (b) identification number; (c) any associated support or
support renewals; and (d) the governing license agreement.

The U.S. Government objects to the Sale Motion to the extent that
it fails to recognize the rights of the United States to: (1)
require consent and adequate cure prior to the assignment of the
Interior Contract and the Agreements under Section 365 of the
Bankruptcy Code; and (2) requires compliance with financial
assurance, decommissioning, audit and other associated obligations
of any federal leases and contracts and other non-bankruptcy law.

Consistent with the Bankruptcy Code, the Mineral Act of 1920
provides that no federal lease may be assigned or sublet or
otherwise transferred without the consent of the Secretary of
Interior, the Government points out.  The agencies' regulations
require specific approval for assumption and assignment of federal
oil and gas interests, the Government asserts.  Prerequisites to
the approval include, but not limited to, the payment of the actual
cure amounts, the cure of existing contract and lease defaults, the
assumption of decommissioning obligations, and the posting of
appropriate bonds or other security and the qualification of the
assignee to hold a lease or other agreement, the Government says.
Further, the Assignment of Contracts Act provides that a party to a
federal contract may not transfer the contract or any interest in
the contract -- the Debtors may not assign or assume a contract
with the United States without first obtaining its consent, the
Government adds.

Cigna Health and Life Insurance Company, Life Insurance Company of
North America and Cigna Behavioral Health, Inc. are represented
by:

         Jeffrey C. Wisler, Esq.
         CONNOLLY & GALLAGHER, LLP
         1000 West Street, Suite 1400
         Wilmington, DE 19081
         Telephone: (302) 757-7300
         Facsimile: (302) 658-0380
         Email: jwisler@connollygallagher.com

Oracle America, Inc., successor in interest to Oracle USA, Inc. and
Hyperion Solutions Corporation are represented by:

         James E. Huggett, Esq.
         MARGOLIS EDELSTEIN
         300 Delaware Avenue, Suite 800
         Wilmington, Delaware 19801
         Telephone: (302) 888-1112
         E-mail: jhuggett@margolisedelstein.com

         -- and --

         Amish R. Doshi, Esq.
         MAGNOZZI & KYE, LLP
         23 Green Street, Suite 302
         Huntington, New York 11743
         Telephone: (631) 923-2858
         E-Mail: adoshi@magnozzikye.com

         -- and --

         Shawn M. Christianson, Esq.
         BUCHALTER NEMER P.C.
         55 Second Street, Suite 1700
         San Francisco, California 94105
         Telephone: (415) 227-0900
         Email: schristianson@buchalter.com

TG Barnett Resources, LP is represented by:

          Gregory A. Taylor, Esq.
          Stacy L. Newman, Esq.
          ASHBY & GEDDES, P.A.
          500 Delaware Avenue, 8th Fl.
          Wilmington, DE 19899
          Telephone: (302) 654-1888
          Facsimile: (302) 654-2067
          Email: gtaylor@ashby-geddes.com
                 snewman@ashby-geddes.com

         -- and --

          John E. West, Esq.
          Harry Perrin, Esq.
          VINSON & ELKINS LLP
          1001 Fannin Street, Suite 2500
          Houston, TX 77002-6760
          Telephone: (713) 758-2222
          Facsimile: (713) 758-2346
          Email: jwest@velaw.com
                 hperrin@velaw.com

The United States is represented by:

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

            About Quicksilver Resources

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

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

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

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

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

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

                                        *     *     *

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


RELATIVITY FASHION: Court OKs Payment of Fees to Co-Lead Arrangers
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized Relativity Fashion, LLC, et al.,  to pay fees under a
fee letter to co-lead arrangers Aperture Media Partners, LLC, and
EMP Media Partners LLC.

Pursuant to Section 363(b) of the Bankruptcy Code, the fee letter
is approved in all respects, including without limitation
reimbursement of expenses, indemnification and exclusivity.

The provisions of the fee letter are explicitly modified as, among
other things, in subsection "(a)" of the first paragraph on page 1
of the fee letter, the following language will be deleted in its
entirety:

     "a postpetition financing facility in an amount up to
$60,000,000 to be used for interim financing requirements of
Borrower during the course of its pending chapter 11 cases. . . ."

All other and further references to the "DIP Facility" and any fees
associated specifically therewith throughout the fee letter will
also be deleted.

A copy of the modifications is available for free at
http://bankrupt.com/misc/RelativityFashion_1163_Arrangersfee.pdf

                          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 filed 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 FASHION: Netflix Files Objection to Chapter 11 Plan
--------------------------------------------------------------
David Lieberman at Deadline.com reports that Netflix has filed an
objection to Relativity Media's plan to emerge from Chapter 11
bankruptcy protection, saying that the Company's CEO Ryan Kavanaugh
and his backers have "failed to demonstrate that they have even the
funding projected as necessary to exit bankruptcy."

"The Debtors' own projections show some $160 million in new equity
and debt for which the Debtors have yet to identify a source," the
report quoted Netflix as saying.

Netflix, according to Deadline.com, said that while it "would like
to be supportive of the Debtors' efforts to reorganize," it wants
out of a deal that's been lucrative for the studio, and that it
wants "substantially more assurance" that the Company will be able
to make good on its commitment to provide a certain number of films
per year -- the exact number is redacted.

Netflix said in court documents that the Company has "not filed
anything with the Court amending or supplementing the Plan to
address the transactions with Trigger Street or Spacey and
Brunetti, or otherwise disclosing any such transactions.  This
leaves it unclear whether the transactions with Trigger Street, Mr.
Spacey, and Mr. Brunetti have even been finalized, despite the
Debtor reporting them as a done deal."

The Company responded, saying that in 2012 it "signed a
distribution deal with Netflix whose terms were by far the most
favorable of any studio. T his objection is nothing more than a
blatant attempt by Netflix to use the Chapter 11 process to once
again renegotiate the agreement, which does not expire until 2018,"
Deadline.com reports.

Discovery, Paramount and RatPac Entertainment also objected to the
Plan.

                         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.


RG STEEL: Ira Rennert Settles Lawsuit Filed by U.S. Pension Agency
------------------------------------------------------------------
Jonathan Stempel at Reuters reported that the billionaire Ira
Rennert has settled a lawsuit in which a U.S. government agency
accused his holding company Renco Group Inc of trying to evade $70
million of pension obligations for its bankrupt RG Steel unit.

In a letter filed on Jan. 19, 2016, in Manhattan federal court,
lawyers for Rennert and the U.S. Pension Benefit Guaranty Corp said
they reached an agreement in principle to end the three-year-old
case.

Terms were not disclosed, and the lawyers said they plan to work
out a settlement agreement by Feb. 19.

Renco had been sued by the PBGC for $97 million over the New
York-based company's January 2012 sale of a 24.5 percent stake in
RG to private equity firm Cerberus Capital Management LP.

                         About RG Steel

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

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

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

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

Judge Kevin J. Carey presides over the case.

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

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

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

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

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

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


RITE AID: Signs Stock Trading Plan with Chief Accounting Officer
----------------------------------------------------------------
Douglas E. Donley, senior vice president, chief accounting officer
of Rite Aid Corporation, entered into a pre-arranged stock trading
plan to exercise his options to purchase a limited number of shares
of the Company's common stock, par value $1.00 per share, and to
sell the shares acquired on exercise for personal financial
management purposes.

The Donley 10b5-1 Plan allows for the exercise of options to
purchase a maximum of 34,106 shares of Common Stock if the Common
Stock reaches a specified market price during the period commencing
April 11, 2016, and continuing until the options to purchase all
34,106 shares have been exercised and the acquired shares sold, or
June 20, 2016, whichever occurs first.  The shares acquired upon
exercise will be sold contemporaneously with the exercise.

The Donley 10b5-1 Plan was designed to comply with the guidelines
specified in Rule 10b5-1 promulgated under the Securities Exchange
Act of 1934, as amended, which permit persons to enter into a
pre-arranged plan for buying or selling Company stock at a time
when such person is not in possession of material, nonpublic
information about the Company.  Mr. Donley will continue to be
subject to the Company's stock ownership guidelines, and the sales
contemplated by the Donley 10b5-1 Plan will not reduce Mr. Donley's
ownership of Common Stock below the levels required by the
guidelines.

                        About Rite Aid Corp.

Rite Aid is a drugstore chain with 4,570 stores in 31 states and
the District of Columbia.

The Company disclosed in its annual report for the year ended
Feb. 28, 2015, that it is highly leveraged.  Its substantial
indebtedness could limit cash flow available for its operations and
could adversely affect its ability to service debt or obtain
additional financing if necessary.

As of Nov. 28, 2015, the Company had $11.7 billion in total assets,
$11.2 billion in total liabilities and $501 million in total
stockholders' equity.

                           *     *     *

In March 2015, Moody's Investor Service confirmed its 'B2'
Corporate Family Rating of Rite Aid.  The confirmation reflects
Moody's expectation that Rite Aid will maintain debt to EBITDA
below 7.0 times after closing the acquisition of Envision
Pharmaceutical Holdings, Inc.

As reported by the TCR on Oct. 2, 2013, Standard & Poor's Ratings
Services said it raised its ratings on Rite Aid, including the
corporate credit rating, which S&P raised to 'B' from 'B-'.

In April 2014, Fitch Ratings upgraded its ratings on Rite Aid,
including its Issuer Default Rating to 'B' from 'B-'.  The upgrades
reflect the material improvement in the company's operating
performance, credit metrics and liquidity profile over the past 24
months.


ROYAL ENERGY: Paritz & Company Expresses Going Concern Doubt
------------------------------------------------------------
Paritz & Company, P.A., in its Nov. 24, 2015 letter to the board of
directors and stockholders of Royal Energy Resources, Inc.,
expressed substantial doubt about the company's ability to continue
as a going concern.  The firm audited the consolidated balance
sheet of the company as of August 31, 2015, and the related
consolidated statement of operations, stockholders' equity, and
cash flows for the year ended August 31, 2015.

Paritz & Company noted that the company has not established sources
of revenues sufficient to fund the development of its business, or
to pay projected operating expenses and commitments for the next
year.  The company has accumulated a net loss of $5,010,502 since
inception through August 31, 2015, and incurred a loss of $502,169
for the year ended August 31, 2015.  "These factors, among others,
raise substantial doubt that the company will be able to continue
as a going concern."

William L. Tuorto, chief executive officer, and Douglas C. Holsted,
chief financial officer of the company in a November 30, 2015
regulatory filing with the U.S. Securities and Exchange Commission,
stated: "We incurred a net operating loss in the year ended August
31, 2015, and have minimal revenues at this time.  

"These factors create an uncertainty about our ability to continue
as a going concern.  

"We are currently trying to raise capital through private offerings
of convertible notes.  As of October 9, 2015, the company had
completed an Offering in which it raised $7,500,000 from the sale
of 3,000,000 shares of its common stock.  Our ability to continue
as a going concern is dependent on the success of this plan."

In another letter to the board of directors of the company
(formerly World Marketing, Inc.) dated December 8, 2014, GZTY CPA
Group LLC also expressed substantial doubt about the company's
ability to continue as a going concern.  The firm had audited the
balance sheet of the company as of August 31, 2014 and the related
statements of operations, cash flows and the statement of
stockholders' deficit for the year ended August 31, 2014.  The firm
noted: "... the company has no established source of revenue and is
dependent on its ability to raise capital from shareholders or
other sources to sustain operations.  These factors among other
matters, raise substantial doubt that the company will be able to
continue as a going concern."

At Aug. 31, 2015, the company had total assets of $12,350,120,
total liabilities of $567,573 and stockholders' equity of
$11,782,547.

The company posted a net loss of $502,169 for the year ended August
31, 2015 as compared with a net loss of $816,857 for the year ended
August 31, 2014.

A full-text copy of the company's annual report is available for
free at: http://tinyurl.com/j98npje

Charleston, South Carolina-based Royal Energy Resources, Inc.
previously pursued gold, silver, copper and rare earth metals
mining concessions in Romania and mining leases in the United
States.  Commencing in January 2015, the company began a series of
transactions under which it would dispose of all of its existing
assets, undergo a change in ownership control and management, and
repurpose itself as a North American energy recovery company, with
plans to purchase a group of synergistic, long-lived energy assets
by taking advantage of favorable valuations for mergers and
acquisitions in the current energy markets.  On April 17, 2015, the
company completed its first acquisition in furtherance of its
change in principle operations, consisting of 40,976 net acres of
coal and coalbed methane mineral rights, located across 22 counties
in West Virginia.


SEAHAWK DRILLING: 5th Circ. Upholds Insurers' Oil Rig Coverage Win
------------------------------------------------------------------
Steven Trader at Bankruptcy Law360 reported that the Fifth Circuit
on Jan. 19, 2016, affirmed a district judge's bench verdict that a
slew of insurers owed no coverage toward the $17 million in damages
a now-defunct company's offshore oil rig sustained during two 2010
storms, finding they constituted separate incidents with neither
exceeding the relevant policy deductibles.

In a published opinion, the three-judge appellate panel found that
a Louisiana federal court was correct in determining that the
liquidating trust for Seahawk Drilling Inc. was owed no coverage
from 14 insurers.

                       About Seahawk Drilling

Houston, Texas-based Seahawk Drilling, Inc., engaged in a jackup
rig business in the United States, Gulf of Mexico, and offshore
Mexico.  It offered rigs and drilling crews on a day rate
contractual basis.  The Company and several affiliates filed for
Chapter 11 bankruptcy protection (Bankr. S.D. Tex. Lead Case No.
11-20089) on Feb. 11, 2011.  Berry D. Spears, Esq., and Jonathan
C. Bolton, Esq., at Fullbright & Jaworkski L.L.P., in Houston,
served as the Debtors' bankruptcy counsel.  Shelby A. Jordan,
Esq., and Nathaniel Peter Holzer, Esq. at Jordan, Hyden, Womble,
Culbreth & Holzer, P.C., in Corpus Christi, Texas, served as the
Debtors' co-counsel.  Alvarez and Marsal North America, LLC, acted
as the Debtors' restructuring advisor.  Simmons & Company
International served as the Debtors' transaction advisor.
Kurtzman Carson Consultants LLC served as the Debtors' claims
agent.  Judy A. Robbins, U.S. Trustee for Region 7, appointed
three creditors to serve on an Official Committee of Unsecured
Creditors.  Heller, Draper, Hayden, Patrick & Horn, L.L.C.,
represented the creditors committee.

In its amended schedules, Seahawk Drilling disclosed $208,190,199
in assets and $438,458,460 in liabilities as of the petition date.

Seahawk filed for Chapter 11 protection to complete the sale of
all assets to Hercules Offshore, Inc.  As reported by the Troubled
Company Reporter on April 11, 2011, the Bankruptcy Court approved
an Asset Purchase Agreement between Hercules Offshore and its
wholly owned subsidiary, SD Drilling LLC, and Seahawk Drilling,
pursuant to which Seahawk agreed to sell to Hercules, and Hercules
agreed to acquire from Seahawk, all 20 of Sellers' jackup rigs and
related assets, accounts receivable and cash and certain
liabilities of Sellers in a transaction pursuant to Section 363 of
the U.S. Bankruptcy Code.  The deal was valued at about $176
million when it received court approval.  The purchase price for
the acquisition was funded by the issuance of roughly 22.3 million
shares of Hercules Offshore common stock and cash consideration of
$25 million, which was used primarily to pay off Seahawk's DIP
loan.  The number of shares of Hercules Offshore common stock to
be issued was to be proportionally reduced at closing, based on a
fixed price of $3.36 per share, if the outstanding amount of the
DIP loan exceeds $25 million, with the total cash consideration
not to exceed $45 million.  The deal closed on April 27, 2011.


SEVENTY SEVEN: Moody's Lowers CFR to Caa3, Outlook Negative
-----------------------------------------------------------
Moody's Investors Service downgraded Seventy Seven Energy Inc.'s
(SSE) Corporate Family Rating to Caa3 from Caa1, its Probability of
Default Rating to Caa3-PD from Caa1-PD, and its senior unsecured
notes due 2022 to C from Caa3.  At the same time, SSE's Speculative
Grade Liquidity rating was affirmed at SGL-3.  The debts of SSE's
operating subsidiary, Seventy-Seven Operating LLC were downgraded
as follows: its senior secured term loan to Caa2 from B1 and its
senior unsecured notes due 2019 to Ca from Caa2. The rating outlook
remains negative.

"The downgrade reflects the difficulty SSE is likely to face
generating sufficient cash flow to cover interest expense in 2016
and 2017, given its high leverage and bleak operating outlook,"
said John Thieroff, Moody's Vice President.  "The company's
announcement that it has retained Lazard Freres & Co. LLC to assist
in restructuring its debt is a further indication of the company's
untenable capital structure."

Downgrades:

Issuer: Seventy Seven Energy Inc.

  Corporate Family Rating, Downgraded to Caa3 from Caa1
  Probability of Default Rating, Downgraded to Caa3-PD from Caa1-
   PD
  Senior Unsecured Regular Bond/Debenture, Downgraded to C (LGD6)
   from Caa3 (LGD6)

Issuer: Seventy Seven Operating LLC

  Senior Secured Bank Credit Facility, Downgraded to Caa2 (LGD2)
   from B1 (LGD2)
  Senior Unsecured Regular Bond/Debenture, Downgraded to Ca (LGD4)

   from Caa2 (LGD4)

Rating Affirmed:

Issuer: Seventy Seven Energy Inc.

  Speculative Grade Liquidity, affirmed at SGL-3

RATING RATIONALE

Seventy-Seven Energy's Caa3 CFR reflects very high leverage and an
untenable capital structure, exposure to the highly cyclical oil
and natural gas land drilling and hydraulic fracturing activities
and limited track record as a standalone entity competing for
market share with non-Chesapeake Energy Corporation (B2, ratings
under review ) customers.  The rating is supported by contracts on
its fleet of land drilling rigs and pressure pumping spreads that
provide a measure of revenue visibility in 2016, however margins
will likely be pressured further as contracts roll off through 2016
in an oversupplied market leading to additional pricing erosion --
evidenced by the large number of idled rigs currently under
contract.  Additional support to the rating is provided by the
company's broad geographic footprint in the onshore US and good
service line diversification, relative to similarly rated peers.

SSE's SGL-3 rating is based on Moody's expectation that the company
will maintain adequate liquidity through 2016.  At September 30,
2015 SSE had $156 million in cash and an undrawn $275 million
borrowing base revolver, which matures in April 2019. The borrowing
base at September 30 was $163 million with availability of $153
million, net of $10 million of outstanding letters of credit.
Negative free cash flow, driven primarily by spending necessary to
complete the company's newbuild drilling rig program, is expected
to be sufficiently funded by cash on hand and drawings under the
revolver through 2016.  The revolver has no financial covenants
unless revolver utilization exceeds 90% of the available borrowing
base, at which time a minimum fixed charge coverage ratio of 1.0x
would be applicable.  Based on limited expected utilization of the
revolver, the company has ample headroom for compliance.  SSE's
assets are fully encumbered, limiting its ability to raise cash
through asset sales.

Seventy Seven Operating LLC (SSO) is an operating subsidiary of SSE
and is the obligor under the revolving credit facility (not rated),
senior secured term loan due 2021 and senior unsecured notes due
2019.  The revolver is secured by a first lien on all of the
company's accounts receivable, inventory and other current assets
as defined in the agreement.  The term loan is secured by a first
lien on all of the company's drilling rigs, oilfield services
equipment and other long-term tangible assets.  The first priority
position and relative size of the term loan results in it being
rated Caa2, one notch above the Caa3 CFR under Moody's Loss Given
Default Methodology.

The 2019 notes are unsecured obligations of SSO and guaranteed by
all of SSO's subsidiaries on a senior unsecured basis.  SSE is a
holding company and its senior unsecured notes due 2022 are
unsecured with no subsidiary guarantees until the 2019 notes are
retired.  Therefore the $450 million 2022 senior notes are
structurally subordinated to all debts at SSO which, combined with
our expectation of very limited prospects for recovery, results in
those notes being rated C, two notches beneath the Caa3 CFR.  The
2019 notes are subordinate to the senior secured claims of the term
loan and revolver, but ahead of the senior notes at SSE, resulting
in the 2019 senior notes being rated Ca, one notch below the CFR.

The rating outlook is negative reflecting our expectation that the
company is likely to restructure within the next 12 months due to
its unsustainably leveraged capital structure and dim near term
prospects for US land drilling activity and completion activity.

SSE's ratings could be downgraded if liquidity declines materially,
if the company substantially draws down its revolver in advance of
a possible bankruptcy filing, or operating conditions deteriorate
beyond current expectations.

An upgrade is unlikely through 2016; however, Moody's could
consider an upgrade if the company can sustain EBITDA/Interest
coverage consistently above 1.2x while maintaining adequate
liquidity.

Seventy Seven Energy Inc. is a publicly traded oilfield services
company that was spun-off from Chesapeake Energy Corporation (CHK,
B2 ratings under review) on June 30, 2014.  SSE, through Seventy
Seven Operating LLC and its subsidiary companies owns and operates
drilling rigs, pressure pumping equipment and other oilfield
services assets.

The principal methodology used in these ratings was Global Oilfield
Services Industry Rating Methodology published in December 2014.



SMART WORLDWIDE: S&P Revises Outlook to Neg. & Affirms 'B' CCR
--------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its rating
outlook on Newark, Calif.-based memory packaging and specialty
module manufacturer SMART Worldwide Holdings Inc. to negative from
stable.  At the same time, S&P affirmed its ratings on the company,
including the 'B' corporate credit rating and all issue-level
ratings.

"We are revising our outlook on SMART to negative from stable
because of our forecast of significantly weakened credit metrics,
including leverage over 6x, over the next 12 months," said Standard
& Poor's credit analyst James Thomas.

While S&P expects the firm's leading share in Brazilian memory
packaging and favorable local content regulations to enable SMART
to eventually return to growth and reduce leverage, recent revenue
declines have been sufficiently severe that any further
deterioration could lead to an extended period of elevated leverage
and weak to negative free cash flow generation.  S&P also notes
that SMART's term loan comes due in August of 2017, and that
failure to make significant progress in improving operations over
the next fiscal year could threaten SMART's ability to refinance or
extend the loan on favorable terms.

S&P's negative outlook is based on significant revenue declines and
operating weakness in SMART's Brazil memory packaging business.
S&P believes that local end-market demand for SMART's products has
sufficiently declined that the firm's ability to reduce leverage
below 6x over the next four quarters is uncertain, in spite of a
supportive local regulatory environment.

S&P could lower the rating if continued weakness in Brazil or a
significant downturn in SMART's other businesses leads to leverage
sustained over 6x or persistently negative free cash flow.  Any
perceived challenges to SMART's ability to refinance or extend its
2017 term loan or a decline in liquidity could also cause S&P to
lower the rating by one or more notches.

S&P could revise the outlook to stable if SMART is able to
capitalize on increasing Brazilian local content requirements for
smartphone and tablet memory, and total unit sales do not continue
to decline precipitously, such that SMART is able to sustain
leverage below 6x.



SPENDSMART NETWORKS: Further Extends Tender Offer Until Feb. 5
--------------------------------------------------------------
Spendsmart Networks, Inc., is extending the expiration date of its
Offer to Amend and Exercise until 5:00 p.m. Eastern Time on
Feb. 5, 2016, unless further extended.  The Offer had been
previously scheduled to expire at 5:00 p.m. Eastern Time on
Jan. 22, 2016.

SpendSmart had offered to amend warrants to purchase an aggregate
of 21,634,695 shares of common stock including:

   (i) outstanding warrants to purchase an aggregate of 17,918,675
       shares of the Company's common stock issued to investors
       who participated in the Company's private placement
       financing closed on Feb. 11, 2014, Feb. 21, 2014, March 6,
       2014, and March 14, 2014;

  (ii) outstanding warrants to purchase an aggregate of 1,711,106
       shares of the Company's common stock issued to investors
       who participated in the Company's private placement
       financings closed on Nov. 30, 2012, July 19, 2012, June 20,
       2012, May 24, 2012, and March 31, 2012, as well as warrants
       issued to the placement agent in connection with such
       financings;

(iii) outstanding warrants to purchase an aggregate of 1,569,935
       shares of the Company's common stock issued to investors
       who participated in the Company's private placement
       financing completed on Jan. 19, 2011, May 20, 2011,
       Oct. 21, 2011, and Nov. 21, 2011, as well as warrants
       issued to the placement agent; and

  (iv) outstanding warrants to purchase an aggregate of 434,979
       shares of the Company's common stock issued to investors
       who participated in the Company's private placement
       financings closed on Nov. 16, 2010.

                     About SpendSmart Networks

SpendSmart Networks, Inc., provides proprietary loyalty systems
and a suite of digital engagement and marketing services that help
local merchants build relationships with consumers and drive
revenues.  These services are implemented and supported by a vast
network of certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing, mobile commerce
and financial tools, such as prepaid card and reward systems.  We
enter into licensing agreements for our proprietary loyalty
marketing solution with "Certified Masterminds" which sell and
support the technology in their respective markets.  The Company's
products aim to make Consumers' dollars go further when they spend
it with merchants in the SpendSmart network of merchants, as they
receive exclusive deals, earn rewards and ultimately build a
connection with their favorite merchants.

SpendSmart Networks incurred a net loss of $12.2 million on $4.03
million of total revenues for the year ended Dec. 31, 2014,
compared to a net loss of $14.09 million on $0 of total revenues
for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $8.52 million in total
assets, $4.48 million in total liabilities and $4.04 million in
total stockholders' equity.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has recurring net
losses since inception and has yet to establish a profitable
operation.  These factors among others raise substantial doubt
about the ability of the Company to continue as a going concern.


SPORTS AUTHORITY: May File for Bankr. If Bondholder Talks Fail
--------------------------------------------------------------
Sports Authority Inc. may seek bankruptcy protection if it fails to
reach an agreement with the bondholders, Jodi Xu Klein and Lauren
Coleman-Lochner at Bloomberg reports, citing people familiar with
the matter.

The sources said that the Company is struggling to persuade
creditors to decrease its outstanding debt as it tries to avoid
filing for Chapter 11 reorganization, Bloomberg relates.

The Company, according to Moody's Investors Service, entered a
30-day grace period two weeks ago.  Bloomberg says that a default
will be triggered if the interest payment still isn't covered.

As reported by the Troubled Company Reporter on Jan. 21, 2016, Jodi
Xu Klein and Lauren Coleman-Lochner, writing for Bloomberg
Brief - Distress & Bankruptcy, reported that the Company skipped a
$20 million interest payment on its bonds last week as the Company
continued talks with creditors about how to restructure debt.

                       *     *     *

As reported by the Troubled Company Reporter on Jan. 22, 2016,
Moody's Investors Service downgraded The Sports Authority Inc.'s
Corporate Family Rating 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 Jan. 15, 2016.  The ratings
outlook is negative.


STELMA PROPERTIES: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: Stelma Properties, LLC
           pdba MZ Inc.
           dba Courts Plus Fitness Centers
        P.O. Box 14035
        New Bern, NC 28561

Case No.: 16-00344

Chapter 11 Petition Date: January 22, 2016

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

Judge: Hon. Joseph N. Callaway

Debtor's Counsel: George M. Oliver, Esq.
                  THE LAW OFFICES OF OLIVER & CHEEK, PLLC
                  PO Box 1548
                  New Bern, NC 28563
                  Tel: 252 633-1930
                  Fax: 252 633-1950
                  Email: efile@ofc-law.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jan Stelma, member/manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nceb16-00344.pdf


TARGUS INC: Public Auction of Assets on February 1
--------------------------------------------------
A public auction for the sale of the assets of Targus Inc. and its
affiliates, Targus USA Inc. and Oten Inc., will take place on Feb.
1, 2016, at 10:00 a.m. (PST) at the offices of:

     Kaye Scholer LLP
     1999 Avenue of the Stars, Suite 1600
     Los Angeles, CA 90067-6048

The assets to be sold may be offered as single unit or in parcels
as separate assets.  All interested potential bidders are invited
to attend and bid at the auction.

Under a credit and guaranty agreement dated May 24, 2011, among
Targus Group International Inc. and guarantors party thereto from
time to time, Wilmington Trust, National Association, as
administrative agent thereunder and as collateral agent thereunder,
Cortland Capital Market Services LLC, as supplemental Collateral
Agent thereunder and the lenders party there to from time to time;
and a pledge and security agreement dated May 24, 2011, among the
companies and the collateral agent, a security interest in
substantially all of the property and assets of the Companies was
granted to the collateral agent, for the benefit of the secured
parties.

The security interest in the collateral granted pursuant to the
security agreement secure all of the obligations of the Companies
to the secured parties under the credit agreement and any related
credit documents.

For more information, please contact:

   Kaye Scholer LLP
   70 West Madison Street, Suite 4200
   Chicago, IL 60602-4231
   Attn: Ken Anderson
   Tel: 312-583-2376
   Email: kenneth.anderson@kayescholer.com

Targus Inc. -- http://targus.com/-- supplies carrying cases and
accessories for the mobile lifestyle.


TAYLOR BEAN: Freddie Mac Ends $1.3 Billion Suit Against Deloitte
----------------------------------------------------------------
John Kennedy at Bankruptcy Law360 reported that Freddie Mac is
dropping its $1.3 billion lawsuit against Deloitte & Touche LLP for
the accounting firm's alleged complacency in the fraud and eventual
collapse of mortgage lender Taylor Bean & Whitaker Mortgage Corp.,
according to a short filing in Florida federal court on Jan. 20,
2016.

Freddie Mac had shown that Deloitte put amateurs on the job to
audit Taylor Bean and overlooked inconsistencies, according to a
Florida federal judge.  

                        About Taylor Bean

Taylor, Bean & Whitaker Mortgage Corp. grew from a small Ocala-
based mortgage broker to become one of the largest mortgage
bankers in the United States.  In 2009, Taylor Bean was the
country's third largest direct-endorsement lender of FHA-insured
loans of the largest wholesale mortgage lenders and issuer of
mortgage backed securities.  It also managed a combined mortgage
servicing portfolio of approximately $80 billion.  The company
employed more than 2,000 people in offices located throughout the
United States.

Taylor Bean sought Chapter 11 protection (Bankr. M.D. Fla. Case
No. 09-07047) on Aug. 24, 2009.  Taylor Bean filed the Chapter 11
petition three weeks after federal investigators searched its
offices.  The day following the search, the Federal Housing
Administration, Ginnie Mae and Freddie Mac prohibited the company
from issuing new mortgages and terminated servicing rights.
Taylor Bean estimated more than $1 billion in both assets and
liabilities in its bankruptcy petition.

Lee Farkas, the former chairman, was sentenced in June to 30 years
in federal prison after being convicted on 14 counts of conspiracy
and bank, wire and securities fraud in what prosecutors said was a
$3 billion scheme involving fake mortgage assets.

Jeffrey W. Kelly, Esq., and J. David Dantzler, Jr., Esq., at
Troutman Sanders LLP, in Atlanta, Ga., and Russel M. Blain, Esq.,
and Edward J. Peterson, III, Esq., at Stichter, Riedel, Blain &
Prosser, PA, in Tampa, Fla., represent the Debtors.  Paul Steven
Singerman, Esq., and Arthur J. Spector, Esq., at Berger Singerman
PA, in Miami, Fla., represent the Committee.  BMC Group, Inc.,
serves as the claims and noticing agent.

Unsecured creditors were expected to receive 3.3% to 4.4% under a
Chapter 11 plan approved in July 2011.


TAYLOR WHARTON: Worthington Industries Buys CryoScience Assets
--------------------------------------------------------------
Kelli M. Dugan at Alabama Newscenter reports that Worthington
Industries, Inc.'s pressure cylinders segment has acquired the
CryoScience assets of Taylor-Wharton International LLC and
Taylor-Wharton Cryogenics LLC out of Chapter 11 bankruptcy, and is
considering investing almost $8.5 million on the Theodore plant.

As reported by the Troubled Company Reporter on Nov. 25, 2015,
Worthington Industries on Nov. 23, 2015, disclosed that its
Cryogenics business in the Pressure Cylinders segment is purchasing
the assets of the global CryoScience business of Taylor-Wharton,
including a manufacturing facility in Theodore, Alabama.  Asset
purchase was expected to close on Dec. 7, 2015.  

Newscenter relates that Worthington Industries is considering
investing almost $8.5 million in its recently purchased Theodore
manufacturing facility in a bid to consolidate operations.
According to company documents, Worthington Industry paid $6
million to acquire the Theodore facility and plans to invest an
additional $3.85 million in building improvements and repairs.

Newscenter states that because Worthington Industries rehired 57 of
the 112 Taylor-Wharton workers terminated when the Company filed
for bankruptcy, the chamber's cost analysis for the abatement
request reflects total employment of 118 with average annual
salaries of $55,000.

According to Newscenter, the Worthington Industry board's counsel
is investigating whether any abatements awarded to Taylor-Wharton
can be transferred to Worthington Industry and how the bankruptcy
affected their standing.

                      About Taylor-Wharton

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead
Case No. 15-12075) on Oct. 7, 2015.  The petition was signed by
Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct or
indirect parent of several foreign non-debtor subsidiaries which
have manufacturing operations in China, Malaysia, Slovakia, and
warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Argus Management Corporation as interim management
services provider, Stifel, Nicolaus & Company, Incorporated and
Miller Buckfire & Company LLC as investment banker and Logan &
Company, Inc., as noticing and claims agent.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.  O'Neal Steel Inc. is listed as the largest
unsecured creditor holding a trade claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.


TELEXFREE LLC: Trustee Files Suit Against 78,000 Investors
----------------------------------------------------------
Tom Corrigan, writing for Dow Jones' Daily Bankruptcy Review,
reported that a new lawsuit brought by the trustee responsible for
recouping assets for victims of the $3 billion TelexFree pyramid
scheme is seeking to force nearly 80,000 so-called "winners" of the
scheme to hand over their profits.

According to the report, the suit, filed earlier this month in U.S.
Bankruptcy Court in Worcester, Mass., specifically names 33
individuals who, according to the suit, collectively pocketed about
$27 million and are among those who took home the largest profits.

                         About TelexFREE

TelexFREE -- http://www.TelexFREE.com/-- is a telecommunications  
business that uses multi-level marketing to assist in the
distribution of voice over internet protocol telephone services.
TelexFREE's retail VoIP product, 99TelexFREE, allows for unlimited
international calling to seventy countries for a flat monthly rate
of $49.90.  TelexFREE has over 700,000 associates or promoters
worldwide.

The company believes the sales of the 99TelexFREE product, the
TelexFREE "app," and other new products will ultimately prove
successful and profitable.  The company is struggling, however,
with several factors that required it to seek chapter 11
protection.  First, the Company experienced exponential growth in
revenue between 2012 and 2013 (from de minimus amounts to over
$1 billion), which put tremendous pressure on the Company's
financial, operational and management systems.  Second, although
the company revised its original compensation plan to promoters in
order to address certain questions that were raised regarding such
plan, the company believes that the plans need to be further
revised.  Finally, the trailing liabilities arising from the
original compensation plan are difficult to quantify and have
resulted in substantial asserted liabilities against the company,
a number of which may not be valid.

TelexFREE LLC and two affiliates sought bankruptcy protection
(Bankr. D. Nev. Lead Case No. 14-12525) on April 13, 2014.

Alvarez & Marsal North America, LLC is serving as restructuring
advisor and Greenberg Traurig, LLP and Gordon Silver are serving
as legal advisors to TelexFREE.  Kurtzman Carson Consultants LLC
serves as claims and noticing agent.

TelexFREE, LLC, estimated $50 million to $100 million in assets
and $100 million to $500 million in liabilities.

TelexFREE is facing accusations of operating a $1 billion-plus
pyramid scheme.

In May, the Court approved the motion by the U.S. Securities &
Exchange Commission to transfer the venue of the Debtors' cases to
the U.S. Bankruptcy Court, District of Massachusetts (Bankr. D.
Mass. Case Nos. 14-40987, 14-40988 and 14-40989).  The Court
entered an order in relation to the venue transfer stating that
the cases remain jointly administered, and KCC will continue to
serve as claims processing agent.

The Debtors had opposed to the motion, stating that while the SEC
contends that the Massachusetts Bankruptcy Court is more
convenient for the SEC, the SEC has failed entirely to meet its
burden to show that the Massachusetts Bankruptcy Court is better
than the Nevada Bankruptcy Court for administration of the Chapter
11 Cases.  The Debtors chose the Nevada Bankruptcy Court because,
inter alia, TelexFREE Nevada, a Nevada entity, is a counter-party
to more than 700,000 contracts governed by Nevada law.

A creditors' committee has not yet been appointed in the Chapter
11 Cases.


TERA GROUP: LeoGroup To Hold Public Sale on February 11
-------------------------------------------------------
LeoGroup Private Debt Facility LP will sell all of the assets of
Tera Group Inc. located at 110 Wall Street, 4th Floor in New York,
New York, to the highest qualified bidder by public sale in
accordance with 6 Del. 9-610 as follows:

   Day and date: Thursday, Feb. 11, 2016
   Time:         9:00 a.m. EST
   Place:        Foley & Lardner LLP
                 90 Park Avenue
                 New York, NY 10016-1314

To be eligible to bid at the sale, bidders must first submit bids
in writing by electronic mail to counsel for LeoGroup, Michael J.
Small at Foley & Lardner at msmall@foley.com no later than Feb. 8,
2016, at 5:00 p.m. EST.  

Qualified bidders must wire a refundable deposit of $25,000 along
with a proof of financial wherewithal sufficient to subsequently
wire transfer in immediately available funds in U.S. Dollars the
amount of any successful bid on the date of the sale.  The deposit
of the winning bidder will be applied to the purchase price.


TRI STATE TRUCKING: Gets Interim Approval to Use Cash Collateral
----------------------------------------------------------------
Tri State Trucking Co. received interim court approval to use the
cash collateral of its lenders.

The order, issued by U.S. Bankruptcy Judge John Thomas, allowed the
company to use the cash collateral of Citizens & Northern Bank,
Mansfield Crane Services Corp. and People's United Equipment
Finance Corp. beginning Jan. 8, 2016, for a period of at least 120
days pending final court hearing.

In exchange for using the cash collateral, the company will grant
the lenders lien and security interest in the cash collateral.

Tri State Trucking will also make monthly payments to C&N and
People's United.  

C&N will receive a monthly payment of $11,308 for the two loans it
provided to the company totaling $390,000.  The other lender will
receive a monthly payment of $7,000.

A copy of the court order is available without charge at
http://is.gd/E1EFCv

The lenders had previously opposed the use of their cash
collateral.  In court papers, the lenders cited the company's
failure to recognize their security interest in the collateral and
the lack of "adequate protection" of their interest.

                     About Tri State Trucking

Tri State Trucking Company filed Chapter 11 bankruptcy petition
(Bankr. M.D. Pa. Case No. 15-04444) on Oct. 13, 2015.  William E.
Robinson signed the petition as president.  The Debtor estimated
assets in the range of $10 million to $50 million and liabilities
of at least $1 million.  Mette, Evans, & Woodside represents the
Debtor as counsel.  Judge John J Thomas is assigned to the case.

Tri State operates an over the road logistics company hauling
various freight of its customers.  The Debtor employs approximately
50 people and operates from its headquarters located at 16064 Route
6, Mansfield, Pennsylvania 16933.


ULTIMATE NUTRITION: Cash Collateral Used Okayed Until Jan. 31
-------------------------------------------------------------
Judge Ann M. Nevis of the U.S. Bankruptcy Court for the District of
Connecticut, Hartford Division, authorized debtors Ultimate
Nutrition, Inc. and Prostar, Inc., to use funds that constitute
cash collateral of TD Bank, N.A.

Judge Nevis authorized the Debtors to use cash collateral to pay
actual, necessary and ordinary operating expenses, not to exceed
$10,349,984, from Nov. 3, 2015 until the Termination Date.

The Debtors' authority to spend cash collateral will automatically
expire upon the soonest to occur of (i) Jan. 31, 2016 at 5:00 p.m.,
or (ii) the failure by the Debtors to materially comply with the
provisions of the Court's Order, or (iii) the confirmation of a
plan of reorganization in the Chapter 11 case ("Termination
Date").

TD extended prepetition financing to the Debtors pursuant to:

     (a) a Revolving Credit and Term Loan Agreement in the original
principal amount of $10 million.  As of Petition Date, the amount
of approximately $8,007,000 was due and owing on account of the
Revolving Loan.

     (b) A Term Loan in the original principal amount of $5
million.  As of the Petition Date, the amount of $2,417,000 was due
and owing on account of the Term Loan.

     (c) An Export Revolving Line of Credit facility in the
original principal amount of $1,750,000.  As of the Petition Date,
the amount of $1,662,000 was due and owing on account of the
facility.

     (d) An Equipment Line of Credit in the original principal
amount of $1.6 million.  As of the Petition Date, the amount of
approximately $1,084,000 was due and owing on account of the
Equipment Loan.

     (e) Unlimited Continuing Guaranty Agreements, pursuant to
which the Debtors guaranteed the obligations of VHR Development,
LLC to TD with respect to a promissory note in the original
principal amount of $1.5 million, which is secured by a mortgage in
the same amount against real property located at 7 Corporate
Avenue, Farmington, Connecticut and which is used by the Debtors as
their place of business.  As of the Petition Date, the amount of
approximately $1,258,000 was due and owing on account of VHR's note
and mortgage to TD.

In connection with the TD Prepetition Indebtedness, TD was granted
liens on substantially all the assets of the Debtors, including
inventory, accounts receivable and the proceeds thereof ("TD
Prepetition Collateral").  As of the Petition Date, the Debtors
were indebted to TD in an amount of not less than $13,170,000.

Prior to the Petition Date, the Debtors had no borrowing
availability from TD and therefore have an immediate and continuing
need to use cash to fund their business operations.  Substantially
all of the Debtors' cash on hand and cash flow from operations
consist of proceeds of prepetition accounts or inventory that is
subject to liens in favor of TD and that all such cash is cash
collateral in which TD has an interest.  If the Debtors are not
able to use Cash Collateral, they will be unable to fund payroll
and other operating expenses that are necessary to maintain the
value of their estates and enable them to maximize recoveries for
all parties in interest.

                     About Ultimate Nutrition

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

Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter 11
bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402 and
14-22403) on Dec. 17, 2014.  On Dec. 19, 2014, the Court entered an
order directing the joint administration of the Debtors' cases for
procedural purposes.

The Debtors tapped Pullman & Comley, in Bridgeport, Connecticut, as
counsel; LaQuerre Michaud & Company, LLC, as accountant; and Marcum
LLP, as financial advisor.

Ultimate Nutrition disclosed $20,157,424 in assets and $19,885,142
in liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 2 appointed three creditors of to serve
on the official committee of unsecured creditors.  The Committee
has selected Lowenstein Sandler, LLP to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.
GlassRatner Advisory & Capital Group LLC, serves as the Committee's
financial advisor.


VERSO PAPER: S&P Lowers Corporate Credit Rating to 'D'
------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit ratings on Verso Paper Holdings LLC and Verso Paper Finance
Holdings LLC to 'D' from 'CCC-'.  At the same time, S&P took these
rating actions:

   -- S&P lowered its issue-level ratings on Verso Holdings LLC's
      11.75% senior secured notes issued in 2012 and 2015 (noted
      by the company as "2012 first-lien notes" and "2015 first-
      lien notes", respectively) to 'D' from 'CCC-.  The '4'
      recovery rating on the notes is unchanged and indicates
      S&P's expectation for average recovery (30% to 50%; lower
      half of the range) in the event of default.

   -- S&P lowered its issue-level rating on Verso Holdings LLC's
      remaining 11.75% senior notes (noted by the company as "1.5-
      lien notes") to 'D' from 'C'.  The '6' recovery rating on
      the notes is unchanged and indicates S&P's expectation for
      negligible recovery (0% to 10%).

   -- S&P lowered its issue-level rating on NewPage Corp.'s senior

      secured term loan to 'D' from 'CCC-'.  The '3' recovery
      rating on the term loan is unchanged and indicates S&P's
      expectation for meaningful recovery (50% to 70%; lower half
      of the range).  S&P lowered its issue-level ratings on Verso

      Paper Holdings LLC's $150 million asset-backed loan
      revolving credit facility (ABL) due 2017 to 'CC' from
      'CCC+'.  The '1' recovery reflects our expectation for very
      high recovery (90% to 100%).  It is S&P's understanding that

      Verso is current on the ABL, but S&P views a default to be a

      virtual certainty given the company's disclosure that it is
      exploring alternatives to restructure its balance sheet.

   -- S&P lowered its issue-level ratings on Verso Paper Holdings
      LLC's $50 million revolving cash flow facility, due 2017 to
      'CC' from 'CCC-'.  The '4' recovery rating on the facility
      reflects S&P's expectation for average recovery (30% to 50%;

      lower half of the range).  Similar to S&P's view of the ABL,

      S&P expects a default to be a virtual certainty given the
      company's stated intentions to restructure its balance
      sheet.

The 'C' issue-level rating and '6' recovery rating on the company's
second priority and senior subordinated notes are unchanged at this
time.

S&P lowered the ratings on Memphis, Tenn.-based paper manufacturer
Verso Corp.'s subsidiaries, Verso Paper Holdings LLC and Verso
Paper Finance Holdings LLC, after the company announced that it had
elected to exercise the grace periods with respect to interest
payments due on several debt obligations.



VIGGLE INC: 6% Shareholder Calls for New Chief Executive Officer
----------------------------------------------------------------
Wolverine Asset Management, LLC, a significant shareholder with
ownership of approximately 6 percent of Viggle Inc.'s outstanding
shares, delivered a letter to Robert F.X. Sillerman, chairman and
chief executive officer of Viggle expressing its serious and urgent
concerns regarding the strategic direction of the Viggle and
outlined the opportunities it believes are available to maximize
value for the benefit of all shareholders.  

Wolverine stated in the letter that it is specifically concerned
that the Company's current strategy has not achieved anywhere near
the expected values (in its asset sales), and that the Company has
neither demonstrated nor articulated a cogent go-forward operating
plan other than to say it is exploring strategic alternatives.
Wolverine also expressed its concerns that Mr. Sillerman's
attention to the current issues facing SFX Entertainment has become
a major distraction for the Company and that the senior management
team assembled by Mr. Sillerman just a couple years ago is in
disarray given that three of the senior executives have
subsequently departed.  Wolverine requested that Mr. Sillerman
immediately engage in active dialog with Wolverine to discuss its
plans to improve shareholder value at the Company, including, among
others: (i) monetizing assets/maximizing (preserving) value; (ii)
fixing the overleveraged balance sheet; (iii) devising a broader
operating strategy that leverages the Company's historical media
success; and (iv) attracting a new CEO and senior management team.


                           About Viggle

New York City-based Viggle Inc. is a loyalty marketing company.
The Company has developed a loyalty program for television that
gives people real rewards for checking into the television shows
they are watching on most mobile operating system.  Viggle users
can redeem their points in the app's rewards catalog for items
such as movie tickets, music, or gift cards.

Viggle reported a net loss attributable to common stockholders of
$78.9 million on $25.5 million of revenue for the year ended
June 30, 2015, compared to a net loss attributable to common
stockholders of $68.1 million on $18.0 million of revenues for the
year ended June 30, 2014.

As of Sept. 30, 2015, the Company had $74.0 million in total
assets, $59.8 million in total liabilities, $12.04 million in
series C convertible preferred stock and $2.10 million in total
stockholders' equity.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2015, citing that the Company has suffered recurring
losses from operations and at June 30, 2015, has a deficiency in
working capital that raise substantial doubt about its ability to
continue as a going concern.


VISCOUNT SYSTEMS: Appoints Principal Financial Officer
------------------------------------------------------
Viscount Systems, Inc. appointed Zhi Yuan (Yvonne) Zheng, who has
been the Company's internal controller since September 2015, its
principal financial officer pursuant to an employment agreement,
dated Jan. 18, 2016.

Prior to joining the Company, Ms. Zheng, 41, served as a senior
accountant for the global finance team at Colliers International
Group Inc., a publicly traded real estate company, from October
2014 to July 2015, and from April 2012 to October 2014, Ms. Zheng
served as a lead financial analyst at TIO Networks Corp., a
publicly traded bill payment processing company listed on the
Toronto Stock Exchange.  From February 2012 to April 2012, Ms.
Zheng worked as a financial consultant at Gateway Casinos and
Entertainment, a Canadian gaming and entertainment operator.  From
May 2011 to February 2012, Ms. Zheng served as a financial
reporting and accounting manager at HSBC Bank Canada, assisting
with managing the bank's financial planning and analysis among its
global business units.  From April 2007 to May 2011, Ms. Zheng
worked as a senior financial accountant in charge of the accounting
and internal control departments at Quality Move Management, Inc.,
a moving company.

Ms. Zheng has over 15 years of professional financial accounting
and analysis experience.  Prior to April 2007, Ms. Zheng worked in
China for six years as a cost control supervisor for Unicom Guomai
Communications Co., Ltd., a public telecommunications company that
had traded on the Shanghai Stock Exchange, and served as a
representative on the telecommunications company's securities
affairs board for two years.  Ms. Zheng holds an MBA from
Laurentian University and a bachelor's degree in engineering from
Shanghai University.  Ms. Zheng is a Chartered Professional
Accountant and has been a member of the Certified General
Accountants Association of Canada since 2010.

Pursuant to the Agreement, the Company will provide Ms. Zheng with
an annual base salary of C$95,000, with an annual bonus of up to
20% of such base salary.  In addition, Ms. Zheng will receive an
initial option to purchase 200,000 shares of the Company's common
stock, with an exercise price equal to the fair market value on the
date of the option grant, which option shall be fully vested at
issuance and valid for two years after the date of such issuance,
unless extended in writing.  Ms. Zheng may be eligible to receive
additional grants of stock options or purchase rights from time to
time, on such terms and conditions as determined by the board of
directors of the Company.  There are no family relationships
between Ms. Zheng and any director or executive officer of the
Company or its subsidiaries.

                    About Viscount Systems

Burnaby, Canada-based Viscount Systems, Inc., is a manufacturer,
developer and service provider of access control security
products.

Viscount Systems reported a net loss and comprehensive loss of
C$991,000 on C$4.76 million of sales for the year ended Dec. 31,
2014, compared to a net loss and comprehensive loss of C$3.08
million on C$4.13 million of sales in 2013.

As of June 30, 2015, the Company had C$1.84 million in total
assets, C$1.74 million in total liabilities, C$16,696 in
convertible redeemable preferred stock and C$88,796 in total
stockholders' equity.

Dale Matheson Carr-Hilton Labonte LLP, in Vancouver, Canada, issued
a "going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company has incurred losses in developing its business, and further
losses are anticipated in the future.  The Company requires
additional funds to meet its obligations and the costs of its
operations and there is no assurance that additional financing can
be raised when needed.  These factors raise substantial doubt about
the Company's ability to continue as a going concern.


WALTER ENERGY: Court Denies Bid to Stay Order Approving Asset Sale
------------------------------------------------------------------
BankruptcyData reported that the U.S. Bankruptcy Court denied an
emergency motion filed by United Mine Workers of America Combined
Benefit Fund and United Mine Workers of America 1992 Benefit Plan
(together, the Coal Act Funds) for a stay pending appeal of the
Court's Jan. 8, 2016 order approving the sale of Walter Energy's
acquired assets free and clear of claims, liens, interests and
encumbrances and approving the assumption and assignment of certain
executory contracts and unexpired leases.

The order states, "Upon due consideration of the Stay Motion, the
Joinder, the Debtors' Opposition, the Steering Committee's
Objection, the arguments and representations of counsel at the
hearing on Jan. 20, 2016, all other matters brought before the
Court, and based upon the findings of fact and conclusions of law
stated on the record at the hearing on Jan. 20, and for other good
cause, the Court Finds, Determines, and Concludes that the Stay
Motion and Joinder are each without merit and should be Denied."

                         About Walter Energy

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

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

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

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

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

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

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


WIRE COMPANY: Court OKs $3.69-Mil. DIP Credit Agreement
-------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware authorized debtors Wire Company Holdings,
Inc., et al., to obtain postpetition financing and use cash
collateral.

Judge Silverstein authorized the Debtors to enter into a Senior
Secured Superpriority Debtor-In-Possession Credit Agreement with
First Niagara Bank, N.A., pursuant to which the Debtors will obtain
up to $3,691,545 of aggregate postpetition senior secured
superpriority debtor-in-possession financing, comprised of (a) a
revolving credit facility in the maximum principal amount of
$1,400,000 and (b) a roll-up credit facility in the maximum
principal amount of $2,291,555.

The senior secured, superpriority Debtor-In-Possession Credit
Agreement contains, among others, the following terms:

     (a) Interest: Each Loan will bear interest on the outstanding
principal amount thereof from the date when made at a rate per
annum equal to 7 percent.

     (b) Fees: On the Closing Date and as a condition precedent
thereto, the Borrower agrees to pay to Lender the Revolving Credit
Commitment Fee.  Upon entry of the Final Order, the Borrower agrees
to pay to Lender the Roll-Up Commitment Fee.

The Debtors and Wire Mesh Holdings, Inc. ("Wire Mesh"), were
jointly and severally indebted to the Prepetition Lender in the
aggregate principal amount of not less than $12,273,952 of
outstanding borrowings under Prepetition Secured Agreements.  The
Prepetition Secured Obligations are secured by first priority,
valid and perfected security interests in and liens on
substantially all of the Debtors' assets, including real property,
fixtures, accounts, inventory, capital stock of Wire Property
Holdings, LLC, Wire Mesh, AP Wire Hong Kong Holding Limited and
Suzhou New York Wire Precision, Inc., contract rights, instruments,
documents, chattel paper, drafts and acceptances, general
intangibles and all other forms of obligations owing to the Debtors
("Prepetition Collateral").  All proceeds of the Prepetition
Collateral constitute cash collateral of the Prepetition Lender.

The Debtors say they have an immediate need to obtain the DIP Loan
Facility and to use the Prepetition Collateral, including Cash
Collateral to, among other things, permit the orderly continuation
of the operation of their businesses, preserve the going concern
value of the Debtors, complete the Debtors' sale process, and pay
the costs of administration of their estates.  The Debtors' access
to sufficient working capital and liquidity through the use of the
Prepetition Collateral, including the Cash Collateral, and
borrowing under the DIP Loan Facility is vital to preserve the
enterprise value of the Debtors' estates, assure the continued
employment of many of the Debtors' employees prior to a sale and,
ultimately, to facilitate a successful sale.

As adequate protection for the Debtors' use, consumption, sale,
collection or other disposition of any of the Prepetition
Collateral, Judge Silverstein ordered that the Prepetition Lender
receive the following:

     i. Conversion of Prepetition Secured Obligations to DIP
Obligations pursuant to DIP Extensions of Credit under the DIP
Roll-Up Facility;

    ii. To the extent there is diminution in the value of the
interests of the Prepetition Lender in the Prepetition Collateral,
the Prepetition Lender is granted replacement liens on the
Prepetition Collateral, as well as a lien on the proceeds and
products of the Chapter 5 Claims;

   iii. An allowed administrative claim against the Debtors'
estates, to the extent that the Replacement Liens and Chapter 5
Claim Liens do not adequately protect the diminution in the value
of the Prepetition Collateral; and

    iv. Payment of fees and expenses of the Prepetition Lender to
the extent incurred prior to, on or after the Petition Date.

Wire Company Holdings' attorneys:

          Sharon L. Levine, Esq.
          Nicole Stefanelli, Esq.
          Andrew D. Behlmann, Esq.
          LOWENSTEIN SANDLER LLP
          65 Livingston Avenue
          Roseland, NJ 07068
          Telephone: (973)597-2500
          Facsimile: (973)597-2400
          E-mail: slevine@lowenstein.com
                  nstefanelli@lowenstein.com
                  abehlmann@lowenstein.com

                   - and -

          Christopher A. Ward, Esq.
          Justin K. Edelson, Esq.
          POLSINELLI PC
          222 Delaware Avenue, Suite 1101
          Wilmington, DE 19801
          Telephone: (302)252-0920
          Facsimile: (302)252-0921
          E-mail: cward@polsinelli.com
                  jedelson@polsinelli.com

                   About Wire Company Holdings

With headquarters in Hanover, Pennsylvania, Wire Company Holdings,
Inc. and Wire Property Holdings, LLC, are manufacturers of wire and
wire mesh products servicing a broad range of applications.  The
wire and mesh products can be used in diverse functions: as support
for filter media in the automobile industry, as filtering in the
appliance industry, as EMF shielding in the electronics industry,
or as a signal receiver in the communications industry, to name
just a few.

For the year ended Dec. 31, 2014, Wire Company reported a net loss
of $4,942,000 on revenues of $44,399,000 on a consolidated basis.
For the year ended Dec. 31, 2013, Wire Company reported a net loss
of approximately $4,145,000 on revenues of $46,712,000.  Through
August 2015, it reported a net loss of $3,859,000 on revenues of
$27,617,000 on a consolidated basis.  As of Sept. 1, 2015, it
employed approximately 237 individuals.

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

Wire Company estimated both assets and liabilities of $10 million
to $50 million.

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


YELLOW CAB COOP: Case Summary & 25 Top Unsecured Creditors
----------------------------------------------------------
Debtor: Yellow Cab Cooperative, Inc.
           aka All Taxi Electronics
        1200 Mississippi Street
        San Francisco, CA 94107

Case No.: 16-30063

Chapter 11 Petition Date: January 22, 2016

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Hon. Dennis Montali

Debtor's Counsel: Gary M. Kaplan, Esq.
                  FARELLA BRAUN AND MARTEL LLP
                  235 Montgomery St.
                  San Francisco, CA 94104
                  Tel: (415)954-4940
                  Email: gkaplan@fbm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Pamela Martinez, president.

A list of the Debtor's 25 largest unsecured creditors is available
for free at http://bankrupt.com/misc/canb16-30063.pdf


[*] Conway MacKenzie Announces the Promotion of 11 Professionals
----------------------------------------------------------------
Conway MacKenzie announced the promotion of eleven professionals.

They are the following:

Michael S. Correra
Senior Managing Director
New York

Michael Correra has a strong background in restructuring,
reorganization, and bankruptcy advisory services.  He's also one of
the key contacts for Engineering & Construction and Transportation
& Logistics.

He brings practical solutions to companies through his experience
in cash management, financial analysis, financial forecasting,
interim management, creditor negotiations, and restructuring plan
development and execution.

Mr. Correra has extensive knowledge of a wide variety of industries
but specializes in advising companies and/or their constituents in
the industries of engineering and construction, automotive, heavy
equipment, general manufacturing and transportation.  He has played
significant roles at clients such as Allied Holdings, Alstom
Transportation, Dick Corporation, Dura Automotive, Foamade
Industries, General Car and Truck, S.G. Marino Crane Service,
Matrix Service Company, Motor Coach Industries and RailWorks
Corporation.

Mr. Correra is a Certified Insolvency & Restructuring Advisor
(CIRA), holds his Certification in Distressed Business Valuation
(CDBV), and a member of the Association of Insolvency &
Restructuring Advisors, Turnaround Management Association and the
American Bankruptcy Institute.

Kent J. Laber
Senior Managing Director
Dallas

Kent Laber provides a full range of crisis management and
turnaround consulting services to under-performing and financially
troubled businesses, including interim management and debtor
advisory, secured and unsecured lender advisory, litigation
support, merger and acquisition advisory, and debt restructuring
and refinancing.

He performs financial, operational, management and manufacturing
analysis for the purpose of determining the viability of a business
and developing a survival, sale or liquidation plan.  He has
negotiated debt restructuring and reorganization transactions in
both out-of-court and Chapter filing settings.

In addition to providing typical restructuring services, Mr. Laber
has been integrally involved in the sale of numerous troubled
companies both out-of-court and pursuant to Section 363 of the
Bankruptcy Code.  He has also testified on valuation and
restructuring matters in Bankruptcy Court.

His credentials include: Certified Public Accountant (CPA, Texas
and Colorado), Certified Turnaround Professional (CTP), Certified
Insolvency and Restructuring Advisor (CIRA) and is Certified in
Financial Forensics (CFF).  Mr. Laber is active in the Dallas
community serving on the Board of Directors of the Lake Highlands
Family YMCA. He currently serves on the Board of Directors of the
Dallas chapter of the Turnaround Management Association.

Kenneth T. Latz
Senior Managing Director
New York

Kenneth Latz is a Senior Managing Director and leader of the Firm's
Private Fund Services practice area and also a key contact for the
Retail, Consumer Products and Direct Marketing industry. Mr. Latz
has nearly 20 years of experience in private equity, financial and
operational restructuring, merger and acquisition advisory services
and the management of performing and under-performing companies.

As leader of the Firm's Private Fund Services practice, Mr. Latz
oversees the deployment of the Firm's strategy for the provision of
portfolio management and other advisory services to private capital
fund stakeholders to help maximize the value of investments during
periods of fund-level transition, recapitalization, restructuring
or distress.  The group also pursues and manages direct secondary
investments of equity and debt portfolios in partnership with
select capital partners.

As a restructuring advisor, Mr. Latz has represented the interests
of debtor and creditor constituencies in out-of-court
restructurings and formal bankruptcy settings in a variety of
industries, including automotive, manufacturing, retail, consumer
products, healthcare, distribution, telecommunications and
technology.

Mr. Latz has also served in various executive management roles for
performing and under-performing companies including, Chief
Executive Officer, Chief Financial Officer, Chief Restructuring
Officer, Corporate Controller and Treasurer across a variety of
industries and situations.

Pete J. Smidt
Senior Managing Director
Practice Group Leader, Transaction Services
Detroit

Pete Smidt is a shareholder of Conway MacKenzie and leads our
Transaction Services practice.  Mr. Smidt has twenty years of
mergers and acquisition services, advising on over 350
transactions, including buy-side, merger integration and sell-side
engagements.

In addition, Mr. Smidt also provides strategic consulting, debt
restructuring, and performance improvement services for performing
and under-performing businesses.  Mr. Smidt works extensively with
the firm's private equity and hedge fund clients.  He is also a
Certified Public Accountant.

Jeremy B. Vann
Managing Director
Detroit

Jeremy Vann provides financial advisory, mergers and acquisitions,
capital raising and restructuring services to both performing and
under-performing companies.

He is a member of the American Bankruptcy Institute and the
Turnaround Management Association.

Danielle M. Iafrate
Director Detroit

Danielle M. Iafrate specializes in providing turnaround consulting
and crisis management services to under-performing companies in the
governmental, gaming & hospitality, automotive and manufacturing
industries, among others.  Mrs. Iafrate more recently has
significant experience with the restructuring of municipal entities
and is accomplished in both financial and operational aspects of
corporate and municipal revitalization.   


She is a Certified Public Accountant and a Certified Insolvency &
Restructuring Advisor.  Mrs. Iafrate is a member of the American
Bankruptcy Institute, Michigan Association of Certified Public
Accountants, American Institute of Certified Public Accountants,
Turnaround Management Association, Association of Insolvency &
Restructuring Advisors, International Women's Insolvency &
Restructuring Confederation, Risk Management Association and the
Society of Automotive Analysts.

John A. Jansen
Director
Detroit

John Jansen provides turnaround consulting and crisis management
services to performing and under-performing companies in a variety
of industries.

His experience includes financial and operational management,
treasury management, preparation of integrated financial models and
various types of financing transactions.

Mr. Jansen is a member of the Turnaround Management Association and
the American Bankruptcy Institute.

Taylor A. Jones
Director
Detroit

Taylor Jones provides financial advisory, mergers and acquisitions,
capital raising and restructuring services to both performing and
under-performing companies.

He is a member of the Association for Corporate Growth and the
Turnaround Management Association.

Mr. Jones holds the following FINRA licenses: Series 79 (Limited
Representative – Investment Banking), Series 82 (Limited
Representative – Private Securities Offerings) and Series 63
(Uniform Securities Agent State Law).

Michael W. Morton
Director
Dallas

Michael Morton specializes in advising performing and
underperforming companies, unsecured creditors and banking
institutions on financial restructurings, valuation, strategic
planning and business turnarounds.

He is a Certified Public Accountant and holds memberships with the
American Bankruptcy Institute, American Institute of Certified
Public Accountants, Texas State Board of Public Accountancy and the
Turnaround Management Association.

R.J. Prossner
Director
New York

RJ Prossner specializes in providing liquidity management,
financial modeling, strategic planning, turnaround and operational
management services to both performing and underperforming
companies.

As a restructuring advisor, Mr. Prossner has represented the
interests of debtor and creditor constituencies in out-of-court
restructurings and formal bankruptcy settings in a variety of
industries, including automotive, manufacturing, consumer products,
retail, distribution, metals & specialty metals, telecommunications
and technology.

Mr. Prossner is a Certified Insolvency & Restructuring Advisor
(CIRA) and a member of the Association of Insolvency &
Restructuring Advisors.  He is also a member of the Turnaround
Management Association, the American Bankruptcy Institute and the
Association for Corporate Growth.

Michael J. Wills
Director
Chicago

Michael J. Wills is a Director specializing in providing turnaround
and crisis management, bankruptcy, and financial restructuring
services to distressed businesses.

His experience includes cash management, vendor management,
financial analysis, constituent communications, and bankruptcy
administration.  His industry experience includes automotive
supply, food processing, metal recycling and staffing companies.
In a recent assignment, Mr. Wills was part of a team that
successfully advised a $170M food processing company via Chapter 11
bankruptcy and sale process allowing the company to adequately
recapitalize and operate as a going-concern.

Mr. Wills is a Certified Public Accountant and is a member of the
Turnaround Management Association, the American Bankruptcy
Institute, and the American Institute of Certified Public
Accountants.


[*] Greenberg Traurig Malpractice Suit Dismissed by Calif. Court
----------------------------------------------------------------
Y. Peter Kang at Bankruptcy Law360 reported that a California
appeals court upheld the dismissal of a malpractice suit alleging
Greenberg Traurig LLP helped a now-bankrupt California real estate
investment firm perpetuate a fraud on investors, finding the
bankruptcy trustee's attempt to pin the scheme on the firm was
fairly rejected.

In an unpublished Jan. 15 opinion, a three-judge First Appellate
District panel affirmed a trial court's dismissal of the suit filed
against Greenberg Traurig and attorneys Toni Wise and Dennis Zentil
under the in pari delicto doctrine.


[*] Jones Day Named Among Blaw360's Bankruptcy Group of the Year
----------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that Jones Day has
continued to distinguish itself as one of the premier bankruptcy
firms and merited mention among Law360's Bankruptcy Groups of the
Year.

Jones Day handled significant successful cases in 2015, including
NII Holdings Inc. and RadioShack, and major ones like American
Apparel and Alpha Natural Resources pending in 2016.

One of the keys to Jones Day's success is a practice area that it
set up as a team effort from the get-go.


[*] Justices Won't Eye Ruling to Keep Ch. 15-Linked Suit Federal
----------------------------------------------------------------
Cara Salvatore at Bankruptcy Law360 reported that the Supreme Court
will not review a Fifth Circuit decision that forces a Chapter
15-related lawsuit by three pension funds to stay in federal court
and shoots down a judge's attempt to remand it to state court,
letting a ruling on an issue of first impression stand.  The
Supreme Court denied a petition for certiorari on Jan. 19, 2016, in
Firefighters Retirement System v. Citco Group Ltd., which the Fifth
Circuit ruled on in June.


[*] Moody's Puts 11 U.S. Mining Companies on Review for Downgrade
-----------------------------------------------------------------
Moody's Investors Service has placed the ratings of 11 mining
companies rated in the US and their rated subsidiaries, on review
for downgrade.

The actions reflect Moody's effort to recalibrate the ratings in
the mining portfolio to align with the fundamental shift in the
credit conditions of the global mining sector.

"Slowing growth in China, which consumes and produces at least half
of base metals, and is a material player in the precious metals,
iron ore and metallurgical coal markets is weakening demand for
these commodities and driving prices to multi-year lows," says
Carol Cowan, a Moody's Senior Vice President. "China's outsized
influence on the commodities market, coupled with the need for
significant recalibration of supply to bring the industry back into
balance indicates that this is not a normal cyclical downturn, but
a fundamental shift that will place an unprecedented level of
stress on mining companies."

On Review for Downgrade:

-- Issuer: Alcoa Inc.

-- Corporate Family Rating, Ba1, Placed on Review for Downgrade

-- Probability of Default Rating, Ba1-PD, Placed on Review for
    Downgrade

-- Senior Unsecured Shelf, (P)Ba1, Placed on Review for Downgrade

-- Pref. Stock Preferred Stock, Ba2 (LGD6), Placed on Review for
    Downgrade

-- Senior Unsecured Medium-Term Note Program, (P)Ba1, Placed on
    Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, Ba1 (LGD4), Placed on

    Review for Downgrade

-- Issuer: Iowa Finance Authority

-- Backed Senior Unsecured Revenue Bonds, Ba1 (LGD4), Placed on
    Review for Downgrade

-- Issuer: Chelan County Development Corporation, WA

-- Backed Senior Unsecured Revenue Bonds, Ba1 (LGD4), Placed on
    Review for Downgrade

-- Issuer: Hecla Mining Company

-- Corporate Family Rating, B2, Placed on Review for Downgrade

-- Probability of Default Rating, B2-PD, Placed on Review for
    Downgrade

-- Senior Unsecured Regular Bond/Debenture, B3 (LGD4), Placed on
    Review for Downgrade

-- Issuer: Newmont Mining Corporation

-- Backed Senior Unsecured Shelf, (P)Baa2, Placed on Review for
    Downgrade

-- Backed Senior Unsecured Regular Bond/Debenture, Baa2, Placed
    on Review for Downgrade

-- Issuer: Rio Tinto (Commercial Paper) Limited

-- Backed Senior Unsecured Commercial Paper, P-2, Placed on
    Review for Downgrade

-- Issuer: Rio Tinto (Commercial Paper) plc

-- Backed Senior Unsecured Commercial Paper, P-2, Placed on
    Review for Downgrade

-- Issuer: Rio Tinto America Inc.

-- Backed Issuer Rating, A3, Placed on Review for Downgrade

-- Backed Senior Unsecured Commercial Paper, P-2, Placed on
    Review for Downgrade

-- Issuer: Rio Tinto Finance (USA) Limited

-- Backed Senior Unsecured Medium-Term Note Program, (P)A3,
    Placed on Review for Downgrade

-- Backed Senior Unsecured Regular Bond/Debenture, A3, Placed on
    Review for Downgrade

-- Backed Senior Unsecured Shelf, (P)A3, Placed on Review for
    Downgrade

-- Issuer: Rio Tinto Finance (USA) plc

-- Backed Senior Unsecured Medium-Term Note Program, (P)A3,
    Placed on Review for Downgrade

-- Backed Senior Unsecured Regular Bond/Debenture, A3, Placed on
    Review for Downgrade

-- Backed Senior Unsecured Shelf, (P)A3, Placed on Review for
    Downgrade

-- Issuer: Rio Tinto Finance Canada Inc

-- Backed Senior Unsecured Commercial Paper, P-2, Placed on
    Review for Downgrade

-- Issuer: Rio Tinto Finance Limited

-- Backed Senior Unsecured Commercial Paper, P-2, Placed on
    Review for Downgrade

-- Issuer: Rio Tinto Finance plc

-- Backed Issuer Rating, A3, Placed on Review for Downgrade

-- Backed Senior Unsecured Commercial Paper, P-2, Placed on
    Review for Downgrade

-- Backed Senior Unsecured Regular Bond/Debenture, A3, Placed on
    Review for Downgrade

-- Issuer: Rio Tinto Limited

-- Issuer Rating, A3, Placed on Review for Downgrade

-- Issuer: Rio Tinto plc

-- Issuer Rating, A3, Placed on Review for Downgrade

-- Issuer: Salt Lake County

-- Backed Senior Unsecured Revenue Bonds, A3, VMIG 2, Placed on
    Review for Downgrade

-- Issuer: Armstrong Energy, Inc.

-- Corporate Family Rating, B3, Placed on Review for downgrade

-- Probability of Default Rating, B3-PD, Placed on Review for
    downgrade

-- Senior Secured Regular Bond/Debenture, B3 (LGD3), Placed on
    Review for downgrade

-- Issuer: Bowie Resource Partners LLC

-- Corporate Family Rating, B2, Placed on Review for downgrade

-- Probability of Default Rating, B2-PD , Placed on Review for
    downgrade

-- Senior Secured Bank Credit Facility, B1 (LGD3), Placed on
    Review for downgrade

-- Senior Secured Bank Credit Facility, Caa1 (LGD5), Placed on
Review for downgrade

-- Issuer: Cloud Peak Energy Resources LLC

-- Corporate Family Rating, B1, Placed on Review for downgrade

-- Probability of Default Rating, B1-PD, Placed on Review for
    downgrade

-- Senior Unsecured Regular Bond/Debenture, B3 (LGD5), Placed on
    Review for downgrade

-- Backed Senior Unsecured Regular Bond/Debenture, B3 (LGD5),
    Placed on Review for downgrade

-- Issuer: Coeur Mining, Inc.

-- Corporate Family Rating, B3, Placed on Review for downgrade

-- Probability of Default Rating, B3-PD, Placed on Review for
    downgrade

-- Senior Secured Bank Credit Facility, Ba3 (LGD1), Placed on
    Review for downgrade

-- Senior Unsecured Regular Bond/Debenture, Caa1 (LGD4), Placed
    on Review for downgrade

-- Issuer: CONSOL Energy Inc.

-- Corporate Family Rating, B1, Placed on Review for downgrade

-- Probability of Default Rating, B1-PD, Placed on Review for
    downgrade

-- Senior Unsecured Regular Bond/Debenture, B3 (LGD5), Placed on
    Review for downgrade

-- Issuer: Natural Resource Partners L.P.

-- Corporate Family Rating, B1, Placed on Review for downgrade

-- Probability of Default Rating, B1-PD, Placed on Review for
    downgrade

-- Senior Unsecured Regular Bond/Debenture, B3 (LGD5), Placed on
    Review for downgrade

-- Backed Senior Unsecured Regular Bond/Debenture, B3 (LGD5),
    Placed on Review for downgrade

-- Issuer: Westmoreland Coal Company

-- Corporate Family Rating, B3, Placed on Review for downgrade

-- Probability of Default Rating, B3-PD, Placed on Review for
    downgrade

-- Senior Secured Bank Credit Facility, Caa1 (LGD4), Placed on
    Review for downgrade

-- Senior Secured Regular Bond/Debenture, Caa1 (LGD4), Placed on
    Review for downgrade

Outlook Actions:

-- Issuer: Alcoa Inc.

-- Outlook, Changed To Rating Under Review From Developing

-- Issuer: Hecla Mining Company

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: Newmont Mining Corporation

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: Rio Tinto (Commercial Paper) Limited

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Rio Tinto (Commercial Paper) plc

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Rio Tinto America Inc.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Rio Tinto Finance (USA) Limited

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Rio Tinto Finance (USA) plc

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Rio Tinto Finance Canada Inc

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Rio Tinto Finance Limited

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Rio Tinto Finance plc

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Rio Tinto Limited

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Rio Tinto plc

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Armstrong Energy, Inc.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Bowie Resource Partners LLC

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Cloud Peak Energy Resources LLC

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: Coeur Mining, Inc.

-- Outlook, Changed To Rating Under Review From Positive

-- Issuer: CONSOL Energy Inc.

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: Natural Resource Partners L.P.

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: Westmoreland Coal Company

-- Outlook, Changed To Rating Under Review From Stable

Unchanged:

-- Issuer: Alcoa Inc.

-- Speculative Grade Liquidity Rating, Unchanged at SGL-1

-- Issuer: Hecla Mining Company

-- Speculative Grade Liquidity Rating, Unchanged at SGL-2

-- Issuer: Cloud Peak Energy Resources LLC

-- Speculative Grade Liquidity Rating, Unchanged at SGL-2

-- Issuer: Coeur Mining, Inc.

-- Speculative Grade Liquidity Rating, Unchanged at SGL-2

-- Issuer: CONSOL Energy Inc.

-- Speculative Grade Liquidity Rating, Unchanged at SGL-3

-- Issuer: Natural Resource Partners L.P.

-- Speculative Grade Liquidity Rating, Unchanged at SGL-3

-- Issuer: Westmoreland Coal Company

-- Speculative Grade Liquidity Rating, Unchanged at SGL-3



[*] Moody's Puts 12 Canadian Mining Cos. on Review for Downgrade
----------------------------------------------------------------
Moody's Investors Service has placed the ratings of 12 mining
companies rated in Canada and their rated subsidiaries, on review
for downgrade.

The actions reflect Moody's effort to recalibrate the ratings in
the mining portfolio to align with the fundamental shift in the
credit conditions of the global mining sector.

"Slowing growth in China, which consumes and produces at least half
of base metals, and is a material player in the precious metals,
iron ore and metallurgical coal markets is weakening demand for
these commodities and driving prices to multi-year lows," says
Jamie Koutsoukis, a Moody's VP - Senior Analyst. "China's outsized
influence on the commodities market, coupled with the need for
significant recalibration of supply to bring the industry back into
balance indicates that this is not a normal cyclical downturn, but
a fundamental shift that will place an unprecedented level of
stress on mining companies."

On Review for Downgrade:

-- Issuer: Alamos Gold Inc.

-- Probability of Default Rating B2-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating B2, Placed on Review for Downgrade

-- Senior Secured Regular Bond/Debenture B3, Placed on Review for

    Downgrade

-- Issuer: Barrick (PD) Australia Finance Pty Ltd

-- Senior Unsecured Regular Bond/Debenture Baa3, Placed on Review

    for Downgrade

-- Issuer: Barrick Gold Corporation

-- Senior Unsecured Regular Bond/Debenture Baa3, Placed on Review

    for Downgrade

-- Issuer: Barrick International Bank Corp.

-- Senior Unsecured Regular Bond/Debenture Baa3, Placed on Review

    for Downgrade

-- Issuer: Barrick North America Finance LLC

-- Senior Unsecured Regular Bond/Debenture Baa3, Placed on Review

    for Downgrade

-- Issuer: Barrick Gold Finance Company

-- Senior Unsecured Regular Bond/Debenture Baa3, Placed on Review

    for Downgrade

-- Issuer: Placer Dome Inc.

-- Senior Unsecured Regular Bond/Debenture Baa3, Placed on Review

    for Downgrade

-- Issuer: Eldorado Gold Corporation

-- Probability of Default Rating Ba3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating Ba3 , Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture Ba3 , Placed on Review

    for Downgrade

-- Issuer: Goldcorp Inc.

-- Issuer Rating Baa2, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture Baa2, Placed on Review

    for Downgrade

-- Senior Unsecured Shelf (P)Baa2, Placed on Review for Downgrade

-- Issuer: HudBay Minerals, Inc.

-- Probability of Default Rating B3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating B3, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture B3, Placed on Review
    for Downgrade

-- Issuer: IAMGOLD Corp. (IAG)

-- Probability of Default Rating B2-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating B2, Placed on Review for Downgrade

-- Subordinate Regular Bond/Debenture B3, Placed on Review for
    Downgrade

-- Issuer: Kinross Gold Corporation

-- Probability of Default Rating Ba1-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating Ba1, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture Ba1, Placed on Review
    for Downgrade

-- Issuer: Lundin Mining Corporation

-- Probability of Default Rating Ba2-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating Ba2, Placed on Review for Downgrade

-- Senior Secured Regular Bond/Debenture Ba2, Placed on Review
    for Downgrade

-- Issuer: New Gold Inc.

-- Probability of Default Rating B1-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating B1, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture B2, Placed on Review
    for Downgrade

-- Issuer: Taseko Mines Limited

-- Probability of Default Rating B3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating B3, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture B3, Placed on Review
    for Downgrade

-- Senior Unsecured Shelf (P)B3 , Placed on Review for Downgrade

-- Issuer: Teck Resources Limited

-- Probability of Default Rating Ba3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating Ba3, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture Ba3, Placed on Review
    for Downgrade

-- Senior Unsecured Shelf (P)Ba3, Placed on Review for Downgrade

-- Issuer: Yamana Gold, Inc.

-- Senior Unsecured Regular Bond/Debenture Baa3, Placed on Review

    for Downgrade

Outlook Actions:

-- Issuer: Alamos Gold Inc.

-- Outlook, Changed To Rating Under Review From Positive

-- Issuer: Barrick (PD) Australia Finance Pty Ltd

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Barrick Gold Corporation

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Barrick International Bank Corp.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Barrick North America Finance LLC

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Barrick Gold Finance Company

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Placer Dome Inc.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Eldorado Gold Corporation

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Goldcorp Inc.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: HudBay Minerals, Inc.

-- Outlook, Changed To Rating Under Review From Positive

-- Issuer: IAMGOLD Corp. (IAG)

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: Kinross Gold Corporation

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: Lundin Mining Corporation

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: New Gold Inc.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Taseko Mines Limited

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Teck Resources Limited

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: Yamana Gold, Inc.

-- Outlook, Changed To Rating Under Review From Stable

RATINGS RATIONALE

As part of an ongoing assessment of mining companies, Moody's
sharply reduced its price sensitivity assumptions on December 8,
2015. Since then, credit conditions in the mining industry have
weakened further, with prices continuing to decline. The likelihood
has increased that prices for base metals, precious metals, iron
ore and metallurgical coal will approach levels closer to Moody's
stressed sensitivity scenario. In addition, the strong US dollar is
a further factor contributing to weakening demand and driving
prices lower since most metals are traded in dollars.

This broad ratings review will consider each mining company's asset
base, cost structure, likely cash burn and liquidity, as well as
management's strategy for coping with a prolonged downturn and the
ability to execute on same. The review will assess each company's
cash flow and credit metrics closer to our latest stressed price
assumptions and the relative rating positioning. Moody's expects to
conclude most reviews within a relatively short timeframe.

Moody's believes that this downturn will mark an unprecedented
shift for the mining industry. Whereas previous downturns have been
cyclical, the effect of slowing growth in China indicates a
fundamental change that will heighten credit risk for mining
companies. This review reflects the belief that deteriorating
industry fundamentals require a recalibration of the global mining
portfolio rated by Moody's. The agency expects that it will
downgrade most companies' ratings by at least one notch and
believes that many of the issuers ratings could have multi-notch
declines. While this review focuses on companies rated in the range
from A1 to B3, Moody's will continue to assess the credit metrics
of all rated companies in the mining sector.



[*] Moody's Reviews Canadian Energy Cos.' Ratings for Downgrade
---------------------------------------------------------------
Moody's Investors Service, on Jan. 21, 2016, placed the ratings of
19 exploration and production (E&P), and oilfield services
companies on review for downgrade.

RATINGS RATIONALE

Oil prices have deteriorated substantially in the past few weeks
and have reached nominal price lows not seen in more than a decade.
Moody's has adjusted its view downward for the likely range of
prices. We see a substantial risk that prices may recover much more
slowly over the medium term than many companies expect, as well as
a risk that prices might fall further. Even under a scenario with a
modest recovery from current prices, producing companies and the
drillers and service companies that support them will experience
rising financial stress with much lower cash flows.

The review for downgrade considers that much weaker industry
fundamentals have potential to warrant rating changes for all
companies covered in this press release. While this review focuses
on companies rated in the range from A1 to B3, Moody's is also
reevaluating higher and lower rated companies in the context of
industry conditions. The higher rated companies on average are
somewhat more resilient to low oil prices and Moody's has recently
downgraded many of the lower rated companies.

As part of its ongoing assessment of energy markets, Moody's
sharply reduced its oil price assumptions on January 21 in light of
continuing oversupply in the global oil markets and demand growth
that remains tepid. Iran is poised to add more than 500,000 barrels
per day to global supply while OPEC and many non-OPEC oil producers
continue to produce without restraint as they battle for market
share. The addition of Iranian oil to the market this year will
offset or exceed expected declines in US production of about
500,000 barrels per day. Increased production vastly exceeds growth
in oil consumption, given modest growth in consumption from major
consumers such as China, India and the US. Production now exceeds
demand by about 2 million barrels per day, adding to already high
global oil stocks. Our natural gas and natural gas liquids price
assumptions are unchanged. Natural gas production in the US
continues to increase while costs decline and producers generate
cash returns at ever-lower prices, although in many cases these
appear insufficient to service their debt.

Lower oil prices will further weaken cash flows for E&P companies
and the upstream portion of integrated oil and gas companies. This
will cause further deterioration in financial ratios, including
deeper negative free cash flow. Most companies are unable to
internally fund sustaining levels of capital spending at current
market prices. Current industry conditions also reduce the value of
assets offered for sale and have made accessing capital markets
more expensive for some companies and unavailable for others. While
integrated oil and gas companies benefit from the profitability of
their downstream operations, the upstream operations represent a
much larger part of the capital employed and cash flow for most of
these companies.

Projected capex reductions by E&P and integrated oil companies will
severely challenge the drilling and oilfield services (OFS) sector
beyond what it had already experienced in 2015. Moody's expects OFS
sector EBITDA to drop by another 25%-30% in 2016, testing the
viability of the capital structures of many of these businesses.
Even if commodity prices recover, OFS companies are unlikely to
gain any pricing power because of the continued excess capacity
across most OFS subsectors. As a result, Moody's expects credit
quality to deteriorate for all OFS players in 2016. Smaller and
more leveraged OFS companies in particular will struggle to comply
with debt agreement covenants, service their debt and access the
capital markets, raising their risk of default. Even large,
diversified investment grade OFS companies will have less financial
flexibility and increasing financial leverage. Drillers with
significant contract expirations will also suffer material credit
degradation as contracts are either not renewed or are renewed at
rates that produce far less revenue.

Although all issuers in these sectors have been adversely affected
by declining prices, severity varies substantially by issuer.
Accordingly, the range of possible outcomes upon conclusion of the
review for given issuers varies from possible confirmation of
ratings to multi-notch downgrades. Multi-notch downgrades are
particularly likely among issuers whose activities are centered in
North America, where natural gas prices have declined dramatically
along with oil prices. Moody's expects to conclude a majority of
the reviews by the end of the first quarter.

On Review for Downgrade:

-- Issuer: Bellatrix Exploration Ltd.

-- Probability of Default Rating, B1-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B1, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B3, Placed on Review
    for Downgrade

-- Issuer: Canbriam Energy Inc

-- Probability of Default Rating, B3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B3, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, Caa1, Placed on
    Review for Downgrade

-- Issuer: Jupiter Resources Inc.

-- Probability of Default Rating, B3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B3, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, Caa1, Placed on
    Review for Downgrade

-- Issuer: MEG Energy Corp.

-- Probability of Default Rating, B1-PD, Placed on Review for
Downgrade

-- Corporate Family Rating, B1, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B2, Placed on Review
    for Downgrade

-- Issuer: Northern Blizzard Resources Inc.

-- Probability of Default Rating, B1-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B1, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B3, Placed on Review
    for Downgrade

-- Issuer: Osum Production Corp.

-- Probability of Default Rating, B3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B3, Placed on Review for Downgrade

-- Senior Secured 1st Lien Term Loan, B3, Placed on Review for
    Downgrade

-- Senior Secured Revolving Credit Facility Ba3, Placed on Review

    for Downgrade

-- Issuer: Paramount Resources Ltd.

-- Probability of Default Rating, B1-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B1, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B3, Placed on Review
    for Downgrade

-- Issuer: Seven Generations Energy Ltd.

-- Probability of Default Rating, B1-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B1, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B2, Placed on Review
    for Downgrade

-- Issuer: Teine Energy Ltd.

-- Probability of Default Rating, B2-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B2, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B3, Placed on Review
    for Downgrade

-- Issuer: Archrock Partners.

-- Probability of Default Rating, Ba3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, Ba3, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B1, Placed on Review
    for Downgrade

-- Issuer: Calfrac Holdings, LP

-- Probability of Default Rating, B3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B3, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, Caa1, Placed on
    Review for Downgrade

-- Issuer: CHC Group Ltd.

-- Probability of Default Rating, B2-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B2, Placed on Review for Downgrade

-- Issuer: CHC Helicopter S.A.

-- Senior Secured Regular Bond/Debenture, B1, Placed on Review
    for Downgrade

-- Senior Unsecured Regular Bond/Debenture, Caa1, Placed on
    Review for Downgrade

-- Issuer: Helmerich & Payne Intl. Drilling Co.

-- Senior Unsecured Regular Bond/Debenture, A3, Placed on Review
    for Downgrade

-- Issuer: Newalta Corporation

-- Probability of Default Rating, B1-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B1, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B2, Placed on Review
    for Downgrade

-- Issuer: North American Energy Partners, Inc.

-- Probability of Default Rating, B3-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating , B3, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, Caa1, Placed on
    Review for Downgrade

-- Issuer: Precision Drilling Corporation

-- Probability of Default Rating, Ba2-PD , Placed on Review for
    Downgrade

-- Corporate Family Rating, Ba2, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, Ba2, Placed on Review

    for Downgrade

-- Issuer: Trinidad Drilling Ltd.

-- Probability of Default Rating, Ba3-PD, Placed on Review for
    Downgrade

--  Corporate Family Rating, Ba3, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B1, Placed on Review
for Downgrade

-- Issuer: Western Energy Services Corp.

-- Probability of Default Rating, B2-PD, Placed on Review for
    Downgrade

-- Corporate Family Rating, B2, Placed on Review for Downgrade

-- Senior Unsecured Regular Bond/Debenture, B3, Placed on Review
    for Downgrade

Outlook Actions:

-- Issuer: Bellatrix Exploration Ltd.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Canbriam Energy Inc

-- Outlook, Changed To Rating Under Review From Positive

-- Issuer: Jupiter Resources Inc.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: MEG Energy Corp.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Northern Blizzard Resources Inc.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Osum Production Corp.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Paramount Resources Ltd.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Seven Generations Energy Ltd.

-- Outlook, Changed To Rating Under Review From Positive

-- Issuer: Teine Energy Ltd.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Archrock Partners.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Calfrac Holdings, LP

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: CHC Group Ltd.

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: CHC Helicopter S.A.

-- Outlook, Changed To Rating Under Review From Negative

-- Issuer: Helmerich & Payne Intl. Drilling Co.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Newalta Corporation

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: North American Energy Partners, Inc.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Precision Drilling Corporation

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Trinidad Drilling Ltd.

-- Outlook, Changed To Rating Under Review From Stable

-- Issuer: Western Energy Services Corp.

-- Outlook, Changed To Rating Under Review From Stable



[*] US Corn Belt Wants New Debt Cap for Fear of Farm Bankruptcies
-----------------------------------------------------------------
Tracy Rucinski and P.J. Huffstutter at Reuters reported that with
agricultural lenders fearing a tidal wave of farm bankruptcies soon
as this spring, lawyers in the Midwest say they want U.S. Senator
Chuck Grassley of Iowa to raise the debt limit for so-called
"family farmer" bankruptcies.

Farmers in states like Illinois, Indiana and Iowa are scrambling to
secure lending for the 2016 growing season at a time when prices
for their corn have halved from three years ago.

As they seek restructuring advice, many are told their debts
surpass the $4 million limit for a Chapter 12 family farm
bankruptcy, said at least five lawyers who represent either debtors
or creditors.

They say the $4 million cap is out of touch with most farms'
current operating size, often thousands of acres of land paid for
by expensive leases and worked using tractors that can cost more
than $250,000.

Chapter 12 was created during the 1980s farm crisis as a simple
court procedure to let farmers keep operating while working out a
plan to repay lenders.


[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
                                                 Total
                                                Share-      Total
                                    Total     Holders'    Working
                                   Assets       Equity    Capital
  Company         Ticker             ($MM)        ($MM)      ($MM)
  -------         ------           ------     --------    -------
ABSOLUTE SOFTWRE  ABT CN            140.4        (51.4)     (47.6)
ABSOLUTE SOFTWRE  ALSWF US          140.4        (51.4)     (47.6)
ABSOLUTE SOFTWRE  OU1 GR            140.4        (51.4)     (47.6)
ADV MICRO DEVICE  AMD* MM         3,109.0       (412.0)     917.0
ADVENT SOFTWARE   ADVS US           424.8        (50.1)    (110.8)
AEROJET ROCKETDY  GCY GR          1,957.4       (107.2)      96.3
AEROJET ROCKETDY  AJRD US         1,957.4       (107.2)      96.3
AEROJET ROCKETDY  GCY TH          1,957.4       (107.2)      96.3
AIR CANADA        ADH2 TH        12,755.0        (51.0)     531.0
AIR CANADA        ACEUR EU       12,755.0        (51.0)     531.0
AIR CANADA        AC CN          12,755.0        (51.0)     531.0
AIR CANADA        ACDVF US       12,755.0        (51.0)     531.0
AIR CANADA        ADH2 GR        12,755.0        (51.0)     531.0
AK STEEL HLDG     AKS* MM         4,250.3       (484.7)     792.0
AMER RESTAUR-LP   ICTPU US           33.5         (4.0)      (6.2)
AMYLIN PHARMACEU  AMLN US         1,998.7        (42.4)     263.0
ANGIE'S LIST INC  ANGI US           173.2        (19.8)     (33.1)
ANGIE'S LIST INC  8AL GR            173.2        (19.8)     (33.1)
ANGIE'S LIST INC  8AL TH            173.2        (19.8)     (33.1)
ARCH COAL INC     ACIIQ* MM       5,848.0       (605.4)     824.1
ARIAD PHARM       ARIA SW           576.1        (49.7)     213.9
ARIAD PHARM       ARIACHF EU        576.1        (49.7)     213.9
ARIAD PHARM       ARIA US           576.1        (49.7)     213.9
ARIAD PHARM       APS GR            576.1        (49.7)     213.9
ARIAD PHARM       ARIAEUR EU        576.1        (49.7)     213.9
ARIAD PHARM       APS TH            576.1        (49.7)     213.9
ASPEN TECHNOLOGY  AZPN US           266.8        (63.0)     (44.1)
ASPEN TECHNOLOGY  AST GR            266.8        (63.0)     (44.1)
AUTOZONE INC      AZO US          8,217.5     (1,778.1)    (721.4)
AUTOZONE INC      AZ5 TH          8,217.5     (1,778.1)    (721.4)
AUTOZONE INC      AZOEUR EU       8,217.5     (1,778.1)    (721.4)
AUTOZONE INC      AZ5 QT          8,217.5     (1,778.1)    (721.4)
AUTOZONE INC      AZ5 GR          8,217.5     (1,778.1)    (721.4)
AVID TECHNOLOGY   AVD GR            264.2       (327.6)    (158.4)
AVID TECHNOLOGY   AVID US           264.2       (327.6)    (158.4)
AVINTIV SPECIALT  POLGA US        1,991.4         (3.9)     322.1
AVON - BDR        AVON34 BZ       3,774.7       (768.4)     660.1
AVON PRODUCTS     AVP CI          3,774.7       (768.4)     660.1
AVON PRODUCTS     AVP QT          3,774.7       (768.4)     660.1
AVON PRODUCTS     AVP* MM         3,774.7       (768.4)     660.1
BARRACUDA NETWOR  CUDA US           429.9        (30.5)     (27.7)
BARRACUDA NETWOR  7BM GR            429.9        (30.5)     (27.7)
BARRACUDA NETWOR  CUDAEUR EU        429.9        (30.5)     (27.7)
BENEFITFOCUS INC  BNFT US           172.4         (8.7)      28.3
BENEFITFOCUS INC  BTF GR            172.4         (8.7)      28.3
BERRY PLASTICS G  BERY US         5,028.0        (53.0)     678.0
BERRY PLASTICS G  BP0 GR          5,028.0        (53.0)     678.0
BLUE BIRD CORP    1291067D US       307.6       (133.8)       5.4
BLUE BIRD CORP    BLBD US           307.6       (133.8)       5.4
BLUE BUFFALO PET  B6B TH            479.1         (2.7)     290.6
BLUE BUFFALO PET  B6B GR            479.1         (2.7)     290.6
BLUE BUFFALO PET  BUFF US           479.1         (2.7)     290.6
BOMBARDIER INC-B  BBDBN MM       23,863.0     (3,660.0)   1,076.0
BOMBARDIER-B OLD  BBDYB BB       23,863.0     (3,660.0)   1,076.0
BOMBARDIER-B W/I  BBD/W CN       23,863.0     (3,660.0)   1,076.0
BRINKER INTL      EAT US          1,579.9       (164.9)    (195.1)
BRINKER INTL      BKJ GR          1,579.9       (164.9)    (195.1)
BUFFALO COAL COR  BUC SJ             54.9        (10.1)      (4.5)
BURLINGTON STORE  BUI GR          2,805.3       (121.9)     112.6
BURLINGTON STORE  BURL* MM        2,805.3       (121.9)     112.6
BURLINGTON STORE  BURL US         2,805.3       (121.9)     112.6
CABLEVISION SY-A  CVC US          6,745.7     (4,957.7)      39.4
CABLEVISION SY-A  CVY TH          6,745.7     (4,957.7)      39.4
CABLEVISION SY-A  CVCEUR EU       6,745.7     (4,957.7)      39.4
CABLEVISION SY-A  CVY GR          6,745.7     (4,957.7)      39.4
CABLEVISION-W/I   CVC-W US        6,745.7     (4,957.7)      39.4
CABLEVISION-W/I   8441293Q US     6,745.7     (4,957.7)      39.4
CAMBIUM LEARNING  ABCD US           185.8        (72.7)     (12.7)
CASELLA WASTE     CWST US           660.7        (15.6)       4.9
CASELLA WASTE     WA3 GR            660.7        (15.6)       4.9
CENTENNIAL COMM   CYCL US         1,480.9       (925.9)     (52.1)
CHOICE HOTELS     CZH GR            712.8       (400.6)     168.4
CHOICE HOTELS     CHH US            712.8       (400.6)     168.4
CINCINNATI BELL   CBB US          1,460.2       (323.3)     (38.6)
CLEAR CHANNEL-A   CCO US          6,133.3       (297.8)     433.3
CLEAR CHANNEL-A   C7C GR          6,133.3       (297.8)     433.3
CLIFFS NATURAL R  CLF* MM         2,271.5     (1,759.5)     406.0
COMMUNICATION     8XC GR          2,622.8     (1,092.2)       -
COMMUNICATION     CSAL US         2,622.8     (1,092.2)       -
CPI CARD GROUP I  PMTS US           289.3       (207.8)      55.7
CPI CARD GROUP I  PNT CN            289.3       (207.8)      55.7
CPI CARD GROUP I  CPB GR            289.3       (207.8)      55.7
CYAN INC          YCN GR            112.1        (18.4)      56.9
CYAN INC          CYNI US           112.1        (18.4)      56.9
DELEK LOGISTICS   D6L GR            361.8        (11.7)       8.2
DELEK LOGISTICS   DKL US            361.8        (11.7)       8.2
DENNY'S CORP      DE8 GR            289.7         (7.5)     (18.3)
DENNY'S CORP      DENN US           289.7         (7.5)     (18.3)
DIRECTV           DTV US         25,321.0     (3,463.0)   1,360.0
DIRECTV           DTV CI         25,321.0     (3,463.0)   1,360.0
DIRECTV           DTVEUR EU      25,321.0     (3,463.0)   1,360.0
DOMINO'S PIZZA    EZV TH            603.2     (1,255.9)     125.1
DOMINO'S PIZZA    EZV GR            603.2     (1,255.9)     125.1
DOMINO'S PIZZA    DPZ US            603.2     (1,255.9)     125.1
DUN & BRADSTREET  DNB US          2,082.4     (1,146.5)     (96.6)
DUN & BRADSTREET  DB5 GR          2,082.4     (1,146.5)     (96.6)
DUN & BRADSTREET  DNB1EUR EU      2,082.4     (1,146.5)     (96.6)
DUN & BRADSTREET  DB5 TH          2,082.4     (1,146.5)     (96.6)
DUNKIN' BRANDS G  2DB TH          3,348.1        (65.8)     285.7
DUNKIN' BRANDS G  2DB GR          3,348.1        (65.8)     285.7
DUNKIN' BRANDS G  DNKN US         3,348.1        (65.8)     285.7
DURATA THERAPEUT  DRTXEUR EU         82.1        (16.1)      11.7
DURATA THERAPEUT  DRTX US            82.1        (16.1)      11.7
DURATA THERAPEUT  DTA GR             82.1        (16.1)      11.7
EDGE THERAPEUTIC  EDGE US            58.5        (50.6)      47.1
EDGE THERAPEUTIC  EU5 GR             58.5        (50.6)      47.1
EDGEN GROUP INC   EDG US            883.8         (0.8)     409.2
ENERGIZER HOLDIN  ENR US          1,629.6        (60.1)     658.7
EOS PETRO INC     EOPT US             1.2        (27.9)     (29.0)
EPL OIL & GAS IN  EPA1 GR         1,140.6       (388.7)    (257.6)
EPL OIL & GAS IN  EPL US          1,140.6       (388.7)    (257.6)
EXELIXIS INC      EX9 GR            363.2        (74.2)     151.4
EXELIXIS INC      EXEL US           363.2        (74.2)     151.4
EXELIXIS INC      EX9 TH            363.2        (74.2)     151.4
EXELIXIS INC      EXELEUR EU        363.2        (74.2)     151.4
FREESCALE SEMICO  1FS QT          3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  1FS GR          3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  FSLEUR EU       3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  1FS TH          3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  FSL US          3,159.0     (3,079.0)   1,264.0
GAMING AND LEISU  GLPI US         2,516.1       (236.6)     (98.2)
GAMING AND LEISU  2GL GR          2,516.1       (236.6)     (98.2)
GARDA WRLD -CL A  GW CN           1,828.2       (378.3)     124.2
GARTNER INC       IT* MM          2,091.5       (159.6)    (173.7)
GARTNER INC       GGRA GR         2,091.5       (159.6)    (173.7)
GARTNER INC       IT US           2,091.5       (159.6)    (173.7)
GENTIVA HEALTH    GHT GR          1,225.2       (285.2)     130.0
GENTIVA HEALTH    GTIV US         1,225.2       (285.2)     130.0
GLG PARTNERS INC  GLG US            400.0       (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US          400.0       (285.6)     156.9
GOLD RESERVE INC  GRZ CN             15.0        (32.3)     (42.5)
GRAHAM PACKAGING  GRM US          2,947.5       (520.8)     298.5
GYMBOREE CORP/TH  GYMB US         1,242.0       (386.5)      30.8
H&R BLOCK INC     HRB TH          2,289.9        (27.2)     160.2
H&R BLOCK INC     HRB GR          2,289.9        (27.2)     160.2
H&R BLOCK INC     HRB US          2,289.9        (27.2)     160.2
H&R BLOCK INC     HRBEUR EU       2,289.9        (27.2)     160.2
HCA HOLDINGS INC  HCAEUR EU      31,896.0     (5,812.0)   2,908.0
HCA HOLDINGS INC  2BH TH         31,896.0     (5,812.0)   2,908.0
HCA HOLDINGS INC  2BH GR         31,896.0     (5,812.0)   2,908.0
HCA HOLDINGS INC  HCA US         31,896.0     (5,812.0)   2,908.0
HD SUPPLY HOLDIN  5HD GR          5,486.0       (126.0)   1,101.0
HD SUPPLY HOLDIN  HDS US          5,486.0       (126.0)   1,101.0
HECKMANN CORP-U   HEK/U US          582.6         (4.9)      50.0
HERBALIFE LTD     HLF US          2,421.5       (130.7)     461.6
HERBALIFE LTD     HOO GR          2,421.5       (130.7)     461.6
HERBALIFE LTD     HLFEUR EU       2,421.5       (130.7)     461.6
HOVNANIAN-A-WI    HOV-W US        2,602.3       (128.1)   1,612.1
HUGHES TELEMATIC  HUTCU US          110.2       (101.6)    (113.8)
IDEXX LABS        IX1 GR          1,477.2        (38.8)       8.6
IDEXX LABS        IDXX US         1,477.2        (38.8)       8.6
INFOR US INC      LWSN US         6,778.1       (460.0)    (305.9)
INNOVIVA INC      INVA US           437.6       (323.0)     212.5
INNOVIVA INC      HVE GR            437.6       (323.0)     212.5
INSTRUCTURE INC   1IN GR             64.2        (15.3)     (15.5)
INSTRUCTURE INC   INST US            64.2        (15.3)     (15.5)
INTERNATIONAL WI  ITWG US           345.4         (9.7)      99.8
INVENTIV HEALTH   VTIV US         2,205.7       (699.2)     112.4
IPCS INC          IPCS US           559.2        (33.0)      72.1
ISTA PHARMACEUTI  ISTA US           124.7        (64.8)       2.2
J CREW GROUP INC  JCG US          1,627.1       (759.0)     111.7
JUST ENERGY GROU  JE US           1,281.8       (650.4)     (48.0)
JUST ENERGY GROU  JE CN           1,281.8       (650.4)     (48.0)
JUST ENERGY GROU  1JE GR          1,281.8       (650.4)     (48.0)
KEMPHARM INC      1GD GR             61.4         (5.7)      52.8
KEMPHARM INC      KMPH US            61.4         (5.7)      52.8
L BRANDS INC      LBEUR EU        7,969.0       (657.0)   1,836.0
L BRANDS INC      LB* MM          7,969.0       (657.0)   1,836.0
L BRANDS INC      LB US           7,969.0       (657.0)   1,836.0
L BRANDS INC      LTD GR          7,969.0       (657.0)   1,836.0
L BRANDS INC      LTD TH          7,969.0       (657.0)   1,836.0
LEAP WIRELESS     LWI GR          4,662.9       (125.1)     346.9
LEAP WIRELESS     LWI TH          4,662.9       (125.1)     346.9
LEAP WIRELESS     LEAP US         4,662.9       (125.1)     346.9
LORILLARD INC     LLV GR          4,154.0     (2,134.0)   1,135.0
LORILLARD INC     LO US           4,154.0     (2,134.0)   1,135.0
LORILLARD INC     LLV TH          4,154.0     (2,134.0)   1,135.0
MADISON-A/NEW-WI  MSGN-W US         863.1     (1,246.3)      78.8
MAJESCOR RESOURC  MJXEUR EU           0.0         (0.1)      (0.1)
MALIBU BOATS-A    MBUU US           195.3         (8.5)       9.7
MALIBU BOATS-A    M05 GR            195.3         (8.5)       9.7
MANNKIND CORP     MNKD IT           278.0       (124.6)    (196.1)
MARRIOTT INTL-A   MAR US          6,153.0     (3,589.0)  (1,786.0)
MARRIOTT INTL-A   MAQ GR          6,153.0     (3,589.0)  (1,786.0)
MARRIOTT INTL-A   MAQ TH          6,153.0     (3,589.0)  (1,786.0)
MDC COMM-W/I      MDZ/W CN        1,617.2       (376.7)    (326.5)
MDC PARTNERS-A    MD7A GR         1,617.2       (376.7)    (326.5)
MDC PARTNERS-A    MDZ/A CN        1,617.2       (376.7)    (326.5)
MDC PARTNERS-A    MDCA US         1,617.2       (376.7)    (326.5)
MDC PARTNERS-EXC  MDZ/N CN        1,617.2       (376.7)    (326.5)
MERITOR INC       MTOR US         2,195.0       (646.0)     174.0
MERITOR INC       AID1 GR         2,195.0       (646.0)     174.0
MERRIMACK PHARMA  MACK US           102.7       (140.7)     (24.3)
MERRIMACK PHARMA  MP6 GR            102.7       (140.7)     (24.3)
MICHAELS COS INC  MIK US          2,083.1     (1,909.9)     585.9
MICHAELS COS INC  MIM GR          2,083.1     (1,909.9)     585.9
MIDSTATES PETROL  MPO1EUR EU      1,298.1       (816.0)      96.2
MONEYGRAM INTERN  MGI US          4,511.4       (244.2)     (27.1)
MOODY'S CORP      MCOEUR EU       4,772.9       (240.2)   1,811.9
MOODY'S CORP      MCO US          4,772.9       (240.2)   1,811.9
MOODY'S CORP      DUT GR          4,772.9       (240.2)   1,811.9
MOODY'S CORP      DUT TH          4,772.9       (240.2)   1,811.9
MOTOROLA SOLUTIO  MSI US          8,086.0       (298.0)   2,758.0
MOTOROLA SOLUTIO  MTLA TH         8,086.0       (298.0)   2,758.0
MOTOROLA SOLUTIO  MOT TE          8,086.0       (298.0)   2,758.0
MOTOROLA SOLUTIO  MTLA GR         8,086.0       (298.0)   2,758.0
MPG OFFICE TRUST  1052394D US     1,280.0       (437.3)       -
MSG NETWORKS- A   MSGN US           863.1     (1,246.3)      78.8
MSG NETWORKS- A   1M4 TH            863.1     (1,246.3)      78.8
MSG NETWORKS- A   1M4 GR            863.1     (1,246.3)      78.8
NATHANS FAMOUS    NATH US            81.9        (61.6)      60.8
NATHANS FAMOUS    NFA GR             81.9        (61.6)      60.8
NATIONAL CINEMED  XWM GR          1,006.2       (228.3)      65.4
NATIONAL CINEMED  NCMI US         1,006.2       (228.3)      65.4
NAVIDEA BIOPHARM  NAVB IT            17.5        (51.8)       8.7
NAVISTAR INTL     NAV US          6,692.0     (5,160.0)     834.0
NAVISTAR INTL     IHR GR          6,692.0     (5,160.0)     834.0
NAVISTAR INTL     IHR TH          6,692.0     (5,160.0)     834.0
NEW ENG RLTY-LP   NEN US            202.4        (30.1)       -
NTELOS HOLDINGS   NTLS US           668.4        (22.1)     150.8
OMEROS CORP       3O8 TH             41.4         (9.0)      17.2
OMEROS CORP       OMER US            41.4         (9.0)      17.2
OMEROS CORP       OMEREUR EU         41.4         (9.0)      17.2
OMEROS CORP       3O8 GR             41.4         (9.0)      17.2
OMTHERA PHARMACE  OMTH US            18.3         (8.5)     (12.0)
OUTERWALL INC     OUTR US         1,266.8         (2.1)      (7.0)
OUTERWALL INC     CS5 GR          1,266.8         (2.1)      (7.0)
PALM INC          PALM US         1,007.2         (6.2)     141.7
PBF LOGISTICS LP  11P GR            432.7       (191.5)      27.8
PBF LOGISTICS LP  PBFX US           432.7       (191.5)      27.8
PHILIP MORRIS IN  4I1 GR         32,011.0    (12,226.0)      10.0
PHILIP MORRIS IN  PM1CHF EU      32,011.0    (12,226.0)      10.0
PHILIP MORRIS IN  PMI1 IX        32,011.0    (12,226.0)      10.0
PHILIP MORRIS IN  PM1 TE         32,011.0    (12,226.0)      10.0
PHILIP MORRIS IN  PM1EUR EU      32,011.0    (12,226.0)      10.0
PHILIP MORRIS IN  PMI EB         32,011.0    (12,226.0)      10.0
PHILIP MORRIS IN  PM FP          32,011.0    (12,226.0)      10.0
PHILIP MORRIS IN  PM US          32,011.0    (12,226.0)      10.0
PHILIP MORRIS IN  4I1 TH         32,011.0    (12,226.0)      10.0
PHILIP MORRIS IN  PMI SW         32,011.0    (12,226.0)      10.0
PLANET FITNESS-A  3PL TH            701.1        (14.2)      (1.2)
PLANET FITNESS-A  PLNT US           701.1        (14.2)      (1.2)
PLANET FITNESS-A  3PL GR            701.1        (14.2)      (1.2)
PLAYBOY ENTERP-A  PLA/A US          165.8        (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US            165.8        (54.4)     (16.9)
PLY GEM HOLDINGS  PG6 GR          1,311.1        (80.8)     264.6
PLY GEM HOLDINGS  PGEM US         1,311.1        (80.8)     264.6
POLYMER GROUP-B   POLGB US        1,991.4         (3.9)     322.1
PROTECTION ONE    PONE US           562.9        (61.8)      (7.6)
PUREBASE CORP     PUBC US             0.4         (1.1)      (1.4)
PURETECH HEALTH   PRTC LN             -            -          -
PURETECH HEALTH   PRTCGBX EU          -            -          -
PURETECH HEALTH   PRTCL IX            -            -          -
PURETECH HEALTH   PRTCL EB            -            -          -
QUALITY DISTRIBU  QLTY US           413.0        (22.9)     102.9
QUALITY DISTRIBU  QDZ GR            413.0        (22.9)     102.9
QUINTILES TRANSN  Q US            4,033.7       (179.9)     996.2
QUINTILES TRANSN  QTS GR          4,033.7       (179.9)     996.2
RAYONIER ADV      RYAM US         1,286.9        (17.0)     208.0
RAYONIER ADV      RYQ GR          1,286.9        (17.0)     208.0
REGAL ENTERTAI-A  RETA GR         2,409.1       (902.0)    (133.8)
REGAL ENTERTAI-A  RGC* MM         2,409.1       (902.0)    (133.8)
REGAL ENTERTAI-A  RGC US          2,409.1       (902.0)    (133.8)
RENAISSANCE LEA   RLRN US            57.0        (28.2)     (31.4)
RENTECH NITROGEN  2RN GR            291.1       (138.0)      13.7
RENTECH NITROGEN  RNF US            291.1       (138.0)      13.7
RENTPATH LLC      PRM US            208.0        (91.7)       3.6
REVLON INC-A      RVL1 GR         1,924.5       (623.3)     334.4
REVLON INC-A      REV US          1,924.5       (623.3)     334.4
ROUNDY'S INC      RNDY US         1,095.7        (92.7)      59.7
ROUNDY'S INC      4R1 GR          1,095.7        (92.7)      59.7
RURAL/METRO CORP  RURL US           303.7        (92.1)      72.4
SALLY BEAUTY HOL  SBH US          2,094.4       (297.8)     695.4
SALLY BEAUTY HOL  S7V GR          2,094.4       (297.8)     695.4
SANCHEZ ENERGY C  SN* MM          1,532.2       (473.6)     171.9
SANCHEZ ENERGY C  SN US           1,532.2       (473.6)     171.9
SBA COMM CORP-A   SBJ TH          7,396.8     (1,697.7)      46.6
SBA COMM CORP-A   SBAC US         7,396.8     (1,697.7)      46.6
SBA COMM CORP-A   SBACEUR EU      7,396.8     (1,697.7)      46.6
SBA COMM CORP-A   SBJ GR          7,396.8     (1,697.7)      46.6
SCIENTIFIC GAM-A  SGMS US         8,615.1       (980.8)     655.1
SCIENTIFIC GAM-A  TJW GR          8,615.1       (980.8)     655.1
SEARS HOLDINGS    SEE GR         12,769.0     (1,293.0)     701.0
SEARS HOLDINGS    SHLD US        12,769.0     (1,293.0)     701.0
SEARS HOLDINGS    SEE TH         12,769.0     (1,293.0)     701.0
SILVER SPRING NE  9SI GR            529.8        (99.3)     (31.1)
SILVER SPRING NE  9SI TH            529.8        (99.3)     (31.1)
SILVER SPRING NE  SSNI US           529.8        (99.3)     (31.1)
SIRIUS XM CANADA  XSR CN            311.1       (147.2)    (189.0)
SOLERA HOLDINGS   BXS GR          3,754.7        (10.8)     378.4
SOLERA HOLDINGS   SLH US          3,754.7        (10.8)     378.4
SONIC CORP        SONC US           616.1        (20.7)       7.4
SONIC CORP        SO4 GR            616.1        (20.7)       7.4
SONIC CORP        SONCEUR EU        616.1        (20.7)       7.4
SPORTSMAN'S WARE  SPWH US           343.4        (14.0)      91.8
SPORTSMAN'S WARE  06S GR            343.4        (14.0)      91.8
STINGRAY - SUB V  RAY/A CN          128.2        (17.8)     (41.0)
STINGRAY DIG-VSV  RAY/B CN          128.2        (17.8)     (41.0)
SUN BIOPHARMA IN  SNBP US             -            -          -
SUPERVALU INC     SJ1 TH          4,643.0       (444.0)      81.0
SUPERVALU INC     SJ1 GR          4,643.0       (444.0)      81.0
SUPERVALU INC     SVU US          4,643.0       (444.0)      81.0
SYNERGY PHARMACE  SGYP US           144.0        (27.1)     123.4
SYNERGY PHARMACE  S90 GR            144.0        (27.1)     123.4
SYNERGY PHARMACE  SGYPEUR EU        144.0        (27.1)     123.4
TRANSDIGM GROUP   TDG US          8,427.0     (1,038.3)   1,173.7
TRANSDIGM GROUP   T7D GR          8,427.0     (1,038.3)   1,173.7
TRINET GROUP INC  TN3 TH          1,609.6        (14.1)      54.4
TRINET GROUP INC  TNETEUR EU      1,609.6        (14.1)      54.4
TRINET GROUP INC  TN3 GR          1,609.6        (14.1)      54.4
TRINET GROUP INC  TNET US         1,609.6        (14.1)      54.4
UNISYS CORP       USY1 TH         2,097.9     (1,451.3)     124.7
UNISYS CORP       UISCHF EU       2,097.9     (1,451.3)     124.7
UNISYS CORP       UIS1 SW         2,097.9     (1,451.3)     124.7
UNISYS CORP       UIS US          2,097.9     (1,451.3)     124.7
UNISYS CORP       USY1 GR         2,097.9     (1,451.3)     124.7
UNISYS CORP       UISEUR EU       2,097.9     (1,451.3)     124.7
VECTOR GROUP LTD  VGR US          1,398.8        (56.8)     457.4
VECTOR GROUP LTD  VGR GR          1,398.8        (56.8)     457.4
VENOCO INC        VQ US             403.8       (354.3)     195.7
VERISIGN INC      VRS TH          2,577.3     (1,031.4)     (38.8)
VERISIGN INC      VRSN US         2,577.3     (1,031.4)     (38.8)
VERISIGN INC      VRS GR          2,577.3     (1,031.4)     (38.8)
VERIZON TELEMATI  HUTC US           110.2       (101.6)    (113.8)
VERSEON CORP      VSN LN              -            -          -
VIRGIN MOBILE-A   VM US             307.4       (244.2)    (138.3)
WEIGHT WATCHERS   WTW US          1,395.2     (1,337.7)    (193.6)
WEIGHT WATCHERS   WW6 TH          1,395.2     (1,337.7)    (193.6)
WEIGHT WATCHERS   WW6 QT          1,395.2     (1,337.7)    (193.6)
WEIGHT WATCHERS   WW6 GR          1,395.2     (1,337.7)    (193.6)
WEIGHT WATCHERS   WTWEUR EU       1,395.2     (1,337.7)    (193.6)
WEST CORP         WSTC US         3,556.9       (595.5)      (6.6)
WEST CORP         WT2 GR          3,556.9       (595.5)      (6.6)
WESTERN REFINING  WNRL US           412.0        (28.1)      66.3
WESTERN REFINING  WR2 GR            412.0        (28.1)      66.3
WINGSTOP INC      WING US           117.2        (14.3)       3.6
WINGSTOP INC      EWG GR            117.2        (14.3)       3.6
WINMARK CORP      GBZ GR             46.8        (36.0)      11.1
WINMARK CORP      WINA US            46.8        (36.0)      11.1
WYNN RESORTS LTD  WYNN US         9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYNN* MM        9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYR QT          9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYR TH          9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYR GR          9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYNNCHF EU      9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYNN SW         9,981.2        (60.8)   1,234.7
YRC WORLDWIDE IN  YEL1 TH         1,964.8       (427.3)     197.3
YRC WORLDWIDE IN  YRCW US         1,964.8       (427.3)     197.3
YRC WORLDWIDE IN  YEL1 GR         1,964.8       (427.3)     197.3


                            *********

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

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

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

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

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

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

                            *********

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

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

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

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

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

                   *** End of Transmission ***