TCR_Public/160201.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, February 1, 2016, Vol. 20, No. 32

                            Headlines

11 EAST 36TH: Third-Party Suit Against DIP Lender Dismissed
ADAMIS PHARMACEUTICALS: OKs Increase in Executives' Base Salaries
ALLIANCE ONE: Principal Accounting Officer Resigns
ALLY FINANCIAL: BlackRock Reports 9.8% Stake as of Dec. 31
ALVION PROPERTIES: Disbursing Agent Hires Desai Eggman as Counsel

ALVION PROPERTIES: Panel Taps Kingett Warrant as Tax Counsel
AMERICAN CHARTER: Fitch Affirms 'BB' Rating on Series 2007A Bonds
ATKINSON INVESTMENT: Case Summary & 4 Top Unsecured Creditors
ATLANTIC CITY, NJ: S&P Lowers Rating on GO Debt to 'CCC-'
ATLANTIC CITY, NJ: S&P Lowers Underlying Rating on GO Bonds to BB-

BEAZER HOMES: Invesco Ltd. Reports 3.9% Stake as of Dec. 31
BENZIE LEASING: Case Summary & 19 Largest Unsecured Creditors
BILL MICHAEL INC: Case Summary & 20 Largest Unsecured Creditors
BIOMED REALTY: Moody's Lowers Unsecured Debt Ratings to Ba1
BOOMERANG TUBE: Court Confirms Second Amended Ch. 11 Plan

BOOMERANG TUBE: Exclusive Solicitation Period Extended to June 2
CHAMPION INDUSTRIES: Incurs $1.19 Million Net Loss in Fiscal 2015
CHENIERE ENERGY: S&P Affirms 'BB' CCR, Outlook Stable
CHINA GINSENG: Guoqin Yin Quits as Chairman and CEO
CINCINNATI BELL: S&P Affirms 'B' CCR; Outlook Remains Stable

CLIFFS NATURAL: George Connell Reports 9.3% Stake as of Dec. 31
CLIFFS NATURAL: S&P Lowers CCR to 'CC', Outlook Negative
COYNE INTERNATIONAL: Hires Pyramid as Broker for Remaining Assets
COYNE INTERNATIONAL: Taps BidItUp to Auction Remaining Assets
CSI COMPRESSCO: S&P Lowers CCR to 'B-', Outlook Stable

CTI BIOPHARMA: NB Public Equity, et al., Report 5.5% Stake
CURO HEALTH: S&P Affirms 'B' Rating on 1st Lien Debt
DENTAL KIDZ: Voluntary Chapter 11 Case Summary
DIFFERENTIAL BRANDS: Names Michael Buckley CEO
DIFFERENTIAL BRANDS: Signs Credit Pacts With Wells Fargo, et al.

DOVER DOWNS: Reports Results for Q4 and Full Year 2015
EAST RIDGE RETIREMENT: Fitch Affirms 'BB' Rating on Revs Bonds
ELBIT IMAGING: Plaza Centers Appoints Acting CEO and CFO
ELITE PHARMACEUTICALS: FDA Approves Waiver of NDA Filing Fee
ELITE PHARMACEUTICALS: Nasrat Hakim Named Board Chairman

EXTREME REACH: S&P Lowers CCR to 'B-', Outlook Negative
FINGER LAKES: Case Summary & 7 Largest Unsecured Creditors
GENIUS BRANDS: Bard Associates Holds 12.4% Stake as of Dec. 31
GEOMET INC: Suspending Filing of Reports with SEC
GEORGETOWN MOBILE: Court Approves ARA USA as Exclusive Broker

GIBSON BRANDS: S&P Lowers CCR to 'CCC+', Outlook Negative
GK HOLDINGS: S&P Lowers CCR to 'B' on Weak Credit Metrics
GRAHAM GULF: Objects to Request for Payment of Carl Marks' Fees
GREENBRIER WHALEY: Case Summary & 3 Largest Unsecured Creditors
HAGGEN HOLDINGS: Court Approves Stroock & Stroock as Attorneys

HAGGEN HOLDINGS: Court Okays Alvarez & Marsal as Financial Advisor
HAGGEN HOLDINGS: Has Until March 7, 2016 to File Ch. 11 Plan
HAGGEN HOLDINGS: Kurtzmann Carson Okayed as Admin. Advisor
HAGGEN HOLDINGS: May Hire Akerman LLP as Corporate Counsel
HEADWATERS INC: S&P Raises CCR to 'BB-', Outlook Stable

HII TECHNOLOGIES: AES Creditors Seek Appointment of Ch. 11 Trustee
HONG KONG ENTERTAINMENT: Wants to Hire Timothy H. Bellas as Counsel
HOVENSA LLC: Has Until March 14 to File Plan
HUB INTERNATIONAL: S&P Affirms 'B' Counterparty Credit Rating
ILLINOIS CORPORATE RESOURCE: Case Summary & Top Unsecured Creditor

IMPERIAL METALS: S&P Lowers CCR to 'CCC', Outlook Negative
INTERNATIONAL SUPPLY: Gets Approval to Hire Briggs as Consultant
INTERNATIONAL SUPPLY: Gets Approval to Hire Gordon as Accountant
INTERNATIONAL SUPPLY: Hires David Cover as Special Attorney
JHK INVESTMENTS: Ch. 11 Case Assigned to Judge Carla E. Craig

JOE'S JEANS: Launches Differential Brands Group
KEMET CORP: Rama Marda Reports 5.9% Equity Stake as of Dec. 31
KEMET CORP: Reports Preliminary Fiscal 2016 Q3 Quarterly Results
KEMET CORP: Tocqueville Asset Holds 6.5% Stake as of Dec. 31
KOPPERS INC: S&P Lowers CCR to 'B' on Weaker Operating Results

LARRY MILLER: 5th Cir. Reverses Ruling Releasing FLSA Claim
LEONARDO ACQUISITION: S&P Withdraws 'B' Corp. Credit Rating
LEXARIA CORP: Signs Distribution Agreement with Telluride Coffee
MANITOWOC FOODSERVICE: Moody's Assigns B2 Corporate Family Rating
MARION AVENUE: Case Summary & 6 Largest Unsecured Creditors

MISSOURI CORPORATE RESOURCE: Case Summary & Top Unsecured Creditor
MMM HOLDINGS: S&P Assigns 'B-' LT Counterparty Credit Rating
MODULAR SPACE: S&P Puts 'B-' CCR on CreditWatch Negative
MOLYCORP INC: Panel Hires Boies Schiller as Conflicts Counsel
MONAKER GROUP: Obtains $600,000 From Private Placement

MORGANS HOTEL: FelCor to Sell Royalton and Morgans Hotels
NORTHWEST BARS: Files Ch 11 Bankr. Petition for Katie Mullen's
OMNICOMM SYSTEMS: Guus Kesteren Reports 3.2% Stake as of Dec. 31
PERFORMANCE SPORTS: S&P Lowers CCR to 'B-' on Weak Profitability
PLEASE TOUCH MUSEUM: Gets Interim Approval to Use Cash Collateral

PLUG POWER: BlackRock Reports 5.4% Equity Stake as of Dec. 31
POSITIVEID CORP: Signs $2.1 Million Subscription Agreement
PREMIERE GLOBAL: S&P Assigns 'B' CCR & Rates $50MM Revolver 'B'
PRESCOTT VALLEY: Has Until March 11 to Decide on Unexpired Leases
PRIME GOLD: Incurs $1.59 Million Net Loss in Fiscal 2015

QUICKSILVER RESOURCES: Second Lien Creditors Have Perfected Liens
RELATIVITY FASHION: Panel Can Tap Drinker Biddle as Litigation Atty
RELATIVITY FASHION: Wants Until April 25 to Remove Civil Actions
RELATIVITY MEDIA: CIT Bank Objects to Plan of Reorganization
RETROPHIN INC: BlackRock Reports 6.4% Stake as of Dec. 31

RETROPHIN INC: Prudential Reports 6.6% Stake as of Dec. 31
ROCKWELL MEDICAL: BlackRock Holds 5.5% Stake as of Dec. 31
SABINE OIL: Panel Extends Scope of Porter Hedges Employment
SEQUENOM INC: Amends Bylaws to Add Forum Selection Provision
SEQUENOM INC: To Amend Director Removal Provision in Bylaws

SHILOH INDUSTRIES: S&P Lowers CCR to 'B+' Then Withdraws Rating
SOUTHERN REGIONAL: Speedy Hearing on Sale-Related Issues Sought
SPANISH BROADCASTING: Moody's Cuts Corporate Family Rating to Caa2
STONEWALL GAS: S&P Affirms 'B-' CCR, Outlook Stable
TEXAS CORPORATE RESOURCE: Case Summary & Top Unsecured Creditor

TRANS-LUX CORP: Bard Associates Reports 6% Stake as of Dec. 31
TREEHOUSE FOODS: S&P Assigns 'BB' Rating on Proposed $775MM Notes
UMEWORLD LIMITED: Incurs $1.37 Million Net Loss in Fiscal 2015
VIGGLE INC: Amends Employment Agreement with EVP Mitchell Nelson
VIGGLE INC: Cancels Circle Shared Services Agreement

VIGGLE INC: Changes Name to "DraftDay Fantasy Sports, Inc."
VIGGLE INC: Five Directors Elected to Board
VIGGLE INC: Terminates SFX Shared Services Agreement
VIRTUAL PIGGY: Extends Warrants Expiration to 2017
VIZIENT INC: Moody's Assigns B2 Corporate Family Rating

WAFERGEN BIO-SYSTEMS: Reports 50% Growth in Q4 Revenues
WALTER ENERGY: Hahn Loeser, Wallace Jordan Represent 2 Creditors
WALTER ENERGY: Wants KMPG to Prepare Federal State Tax Returns
WOOD RESOURCE: Voluntary Chapter 11 Case Summary
WORLDWIDE TRANSPORTATION: Files for Chapter 11 Bankr. Protection

ZLOOP INC: Has Until March 6 to File Ch. 11 Plan
[*] Dorsey & Whitney Bags Two M&A Advisor Turnaround Awards
[*] Fitch Says Repricing of Risk Evident in 2015 for Finance Market
[*] Moody's Reviews Energy Cos. in EMEA Region for Downgrade
[*] Moody's Takes Rating Actions on Five US Mortgage Insurers

[^] BOND PRICING: For the Week from January 25 to 29, 2016

                            *********

11 EAST 36TH: Third-Party Suit Against DIP Lender Dismissed
-----------------------------------------------------------
Third party defendant 11 East 36th 1 LLC (or the "DIP Lender")
filed a motion seeking to dismiss the Third Party Complaint filed
by third party plaintiffs 11 East 36th Note Buyer LLC and Griffon V
LLC.

The Third Party Plaintiffs assert a single claim against the DIP
Lender for common law indemnity and contribution relating to
Postpetition Financing that 11 East 36th LLC and Morgan Lofts LLC
obtained from the DIP Lender and used, in part, to satisfy the
claims of the Third Party Plaintiffs.  Specifically, they contend
that when, in connection with that financing, the DIP Lender
accepted an assignment of the Third Party Plaintiffs' debt and
security instruments, by operation of law, the DIP Lender became a
co-obligor with them as to the claims asserted in this adversary
proceeding.  The Third Party Plaintiffs therefore seek contribution
or indemnification from the DIP Lender to the extent they are
ultimately held liable in this proceeding.

In the Motion, the DIP Lender submits that the exculpation
provision in the Financing Order bars the Third Party Plaintiffs'
claims against it as a matter of law.  Alternatively, the DIP
Lender argues that allowing the Third Party Plaintiffs to seek
indemnity and contribution from it would "elevate form over
substance" as the Postpetition Financing was "in essence" a new
loan to the Debtors, not an assignment of the Third Party
Plaintiffs' claims to the DIP Lender.  Although the DIP Lender in
fact took the Third Party Plaintiffs' debt instruments by
assignment, it contends that it did so only as an accommodation to
the Debtors who were seeking to reduce the mortgage recording taxes
due on the transaction and that it did not assume any of the Third
Party Plaintiffs' liabilities.  In either case, the DIP Lender
argues that the Third Party Complaint should be dismissed as it
fails to state a claim upon which relief can be granted.

In a Memorandum Decision dated January 12, 2016, which is available
at http://is.gd/Z9igq9from Leagle.com, Judge James L. Garritty,
Jr., of the United States Bankruptcy Court for the Southern
District of New York granted the motion to dismiss the Third Party
Complaint as the exculpation clause in Paragraph 23 of the
Financing Order bars the assertion of claims against the DIP
Lender.

According to Judge Garrity, under the doctrine of res judicata, the
Third Party Plaintiffs have failed to state a claim against the DIP
Lender and the Third Party Complaint must be dismissed in its
entirety.

The case is In re: 11 EAST 36TH LLC, et al., Chapter 11, Debtors.
11 EAST 36TH LLC, Plaintiff, v. FIRST CENTRAL SAVINGS BANK, 11 EAST
36TH NOTE BUYER LLC, AND GRIFFON V LLC, Defendants. 11 EAST 36TH
NOTE BUYER LLC AND GRIFFON V LLC, Third Party Plaintiffs, v. 11
EAST 36TH 1 LLC, Third Party Defendant, Case No. 13-11506 (JLG),
Adversary No. 14-01819 (JLG).

KRISS & FEUERSTEIN LLP Jerold C. Feuerstein, Esq. --
jfeuerstein@kandfllp.com, Greg A. Friedman, Esq. --
gfriedman@kandfllp.com, New York, New York, Attorneys for 11 East
36th 1 LLC.

WOODS OVIATT GILMAN LLP, William F. Savino, Esq. --
Wsavino@woodsoviatt.com, Bernard Schenkler, Esq., Buffalo, New
York, Attorneys for 11 East 36th Note Buyer LLC and Griffon V LLC
and BACKENROTH FRANKEL & KRINSKY LLP, Mark A. Frankel, Esq. --
mfrankel@bfklaw.com, New York, New York, Attorneys for 11 East 36th
Note Buyer LLC and Griffon V LLC.

                          About East 36th LLC

11 East 36th LLC and Morgan Lofts LLC filed voluntary petitions
for
relief under Chapter 11 of the Bankruptcy Code (Bankr. S.D.N.Y.
Case Nos. 13-11506 and 13-11507) on May 8, 2013.  Judge James M.
Peck was assigned to oversee both cases.  Anthony J. Gallo, Esq.,
at AJ Gallo Associates, P.C., served as counsel to the Debtors.
In
its petition, 11 East 36th LLC estimated $0 to $50,000 in assets
and $10 million to $50 million in liabilities. The petitions were
signed by Ben Bobker, managing member.


ADAMIS PHARMACEUTICALS: OKs Increase in Executives' Base Salaries
-----------------------------------------------------------------
The Compensation Committee of the Board of Directors of Adamis
Pharmaceuticals Corporation approved an increase in the annual base
salaries of its officers in amounts ranging from 3% to 15% of such
officer's previous base salary, effective as of Jan. 1, 2016. In
addition, upon the recommendation of the Compensation Committee,
the Board approved cash bonus payments under the Company's 2015
Bonus Plan for 2015 as follows: Dr. Carlo, $137,500; Mr. Marguglio,
$60,000; Mr. Hopkins, $39,000; Ms. Daniels, $39,000; and Dr. Moll,
$39,000.

                          About Adamis

San Diego, Calif.-based Adamis Pharmaceuticals Corporation (OTC
QB: ADMP) is a biopharmaceutical company engaged in the
development and commercialization of specialty pharmaceutical and
biotechnology products in the therapeutic areas of respiratory
disease, allergy, oncology and immunology.

Mayer Hoffman McCann, P.C., in San Diego, California, issued a
"going concern" qualification on the consolidated financial
statements for the transition period ended Dec. 31, 2014, citing
that the Company has incurred recurring losses from operations, and
is dependent on additional financing to fund operations.

Adamis reported a net loss of $8.15 million for the year ended
March 31, 2014, as compared with a net loss of $7.19 million for
the year ended March 31, 2013.

                        Bankruptcy Warning

"Our management intends to attempt to secure additional required
funding through equity or debt financings, sales or out-licensing
of intellectual property assets, seeking partnerships with other
pharmaceutical companies or third parties to co-develop and fund
research and development efforts, or similar transactions. However,
there can be no assurance that we will be able to obtain any
required additional funding.  If we are unsuccessful in securing
funding from any of these sources, we will defer, reduce or
eliminate certain planned expenditures and delay development or
commercialization of some or all of our products.  If we do not
have sufficient funds to continue operations, we could be required
to seek bankruptcy protection or other alternatives that could
result in our stockholders losing some or all of their investment
in us," the Company states in its quarterly report for the period
ended Sept. 30, 2015.


ALLIANCE ONE: Principal Accounting Officer Resigns
--------------------------------------------------
Nichlas A. Fink, vice president-controller (principal accounting
officer) and chief compliance officer of Alliance One
International, Inc. informed the Company of his resignation, to be
effective on Feb. 5, 2016, to permit him to accept a position with
a company in an unrelated industry.

The Company has appointed Todd B. Compton as vice
president-controller (principal accounting officer) upon the
effectiveness of Mr. Fink's resignation.  Ms. Compton, age 55,
currently serves as the Company's assistant controller, a position
she has held since August 2008.  Ms. Compton has been an employee
in the Company's finance group since November 1997.  She began her
career with McGladrey LLP, now known as RSM US LLP, and is a
certified public accountant.  Effective upon Ms. Compton becoming
vice president-controller, her annual salary will be increased by
$48,600 and she will be eligible to participate in the Company's
equity compensation program.

                         About Alliance One

Alliance One International is a leading global independent leaf
merchant.  Visit the Company's Web site at http://www.aointl.com/


Alliance One reported a net loss of $15.6 million on $2.10 billion
of sales and other operating revenues for the year ended March 31,
2015, compared to a net loss of $87 million on $2.3 billion of
sales and other operating revenues for the year ended March 31,
2014.

                            *    *    *

As reported by the TCR on Feb. 12, 2015, Moody's Investor Service
downgraded the Corporate Family Rating of Alliance One
International, Inc. (AOI) to Caa1 from B3.  The downgrade of AOI's
CFR to Caa1 reflects Moody's expectation that credit metrics will
remain weak over the next 12 - 18 months.

The TCR reported on April 13, 2015, that Standard & Poor's Ratings
Services lowered its corporate credit rating on Morrisville,
N.C.-based Alliance One International Inc. to 'CCC+' from 'B-'.


ALLY FINANCIAL: BlackRock Reports 9.8% Stake as of Dec. 31
----------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, BlackRock, Inc. disclosed that as of Dec. 31, 2015, it
beneficially owns 47,057,438 shares of common stock of Ally
Financial Inc. representing 9.8 percent of the shares outstanding.
A copy of the regulatory filing is available for free at:

                        http://is.gd/hkCD7p
  
                        About Ally Financial

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

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

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

                           *     *     *

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

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

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


ALVION PROPERTIES: Disbursing Agent Hires Desai Eggman as Counsel
-----------------------------------------------------------------
Robert E. Eggman, the disbursing agent of Alvion Properties, Inc.,
seeks authorization from the U.S. Bankruptcy Court for the Southern
District of Illinois to employ Desai Eggmann Mason LLC as counsel
to the disbursing agent.

To perform his duties, the Disbursing Agent requires assistance of
legal counsel for numerous matters, including but not limited to:

   (a) providing disbursing agent with legal advice with respect
       to its powers and duties as the disbursing agent in this
       proceeding;

   (b) preparing on behalf of the disbursing agent necessary
       applications, notices, orders, and other legal papers; and

   (c) assisting the disbursing agent in the distribution of the
       proceeds to creditors pursuant to a confirmed Chapter 11
       Plan or Order to Disburse on the approval of the sale of
       assets.

Desai Eggmann will be paid at these hourly rates:

       Robert E. Eggmann            $360
       Senior Level Attorneys       $360
       Legal Assistants             $170

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

Robert E. Eggman, member of Desai Eggman, 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.

Desai Eggman can be reached at:

       Robert E. Eggmann, Esq.
       DESAI EGGMANN MASON LLC
       7733 Forsyth Boulevard, Suite 800
       St. Louis, MO 63105
       Tel: (314) 881-0800
       Fax: (314) 881-0820

                       About Alvion Properties

Alvion Properties, Inc., is a Virginia corporation formed in 1995
with the placement of real property and mineral rights it owns
today.  Alvion owns 1,295 acres of undeveloped land, with
significant coal reserves along with timber and building stone, in
Scott County, Virginia.  Alvion also owns an additional 3,219
acres of mineral rights in property north of its fee simple
ownership.

The current stockholders are Harold M. (Jack) Reynolds and Shirley
Medley.  Mr. Reynolds owns several entities involved in the coal
business.  Shirley and her family also owned coal mines from 1970
to 2010.

Alvion Properties filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Ill. Case No. 15-40462) on May 14, 2015.  Karnes Medley, the
president, signed the petition.

The Debtor disclosed total assets of $1 billion and total debts of
$2.7 million in its petition.

Antonik Law Offices serves as the Debtor's counsel.

The meeting of creditors was held on June 17, 2015.

The U.S. trustee overseeing the Chapter 11 case of Alvion
Properties appointed four creditors to serve on the official
committee of unsecured creditors.  Pachulski Stang Ziehl & Jones
LLP and Bryan Cave LLP represent the Creditors Committee.


ALVION PROPERTIES: Panel Taps Kingett Warrant as Tax Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors of Alvion Properties,
Inc. seeks authorization from the U.S. Bankruptcy Court for the
Southern District of Illinois to retain Kingett Warren, PC as
special tax counsel for the Committee, effective Nov. 19, 2015.

The Committee requires Kingett Warren to analyze tax implications
relating to the Debtor's proposed sale of assets.

Kingett Warren will be paid at $395 per hour.

Ronald Warren, attorney at Kingett Warren, 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.

Kingett Warren can be reached at:

       Ronald M. Warren, Esq.
       KINGETT WARREN, PC
       Berlin Business Park
       140 Bradford Drive
       West Berlin, NJ 08091
       Tel: (856) 375-5800
       Fax: (856) 374-5333

                       About Alvion Properties

Alvion Properties, Inc., is a Virginia corporation formed in 1995
with the placement of real property and mineral rights it owns
today.  Alvion owns 1,295 acres of undeveloped land, with
significant coal reserves along with timber and building stone, in
Scott County, Virginia.  Alvion also owns an additional 3,219
acres of mineral rights in property north of its fee simple
ownership.

The current stockholders are Harold M. (Jack) Reynolds and Shirley
Medley.  Mr. Reynolds owns several entities involved in the coal
business.  Shirley and her family also owned coal mines from 1970
to 2010.

Alvion Properties filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Ill. Case No. 15-40462) on May 14, 2015.  Karnes Medley, the
president, signed the petition.

The Debtor disclosed total assets of $1 billion and total debts of
$2.7 million in its petition.

Antonik Law Offices serves as the Debtor's counsel.

The meeting of creditors was held on June 17, 2015.

The U.S. trustee overseeing the Chapter 11 case of Alvion
Properties appointed four creditors to serve on the official
committee of unsecured creditors.  Pachulski Stang Ziehl & Jones
LLP and Bryan Cave LLP represent the Creditors Committee.


AMERICAN CHARTER: Fitch Affirms 'BB' Rating on Series 2007A Bonds
-----------------------------------------------------------------
Fitch Ratings affirms the 'BB' rating on approximately $72.6
million series 2007A bonds issued by the Pima County Industrial
Development Authority, Arizona (PCIDA). The bonds were issued on
behalf of the American Charter Schools Foundation (ACSF).

The Rating Outlook is Stable.

SECURITY

The bonds are secured by a joint and several pledge of the revenues
of 10 ACSF schools in Arizona (collectively, the bond schools),
which primarily consists of state aid based on enrollment. The
bonds are additionally secured by a debt service reserve (DSR). The
schools also make annual renewal and replacement deposits. Charter
payments from the state are made directly to the bond trustee.

KEY RATING DRIVERS

WEAK FINANCIAL PROFILE: The rating reflects a history of near
break-even GAAP operations (fiscal 2015 margins were 2.2%), a very
limited financial cushion, a high debt burden and adequate, albeit
limited, coverage of transaction maximum annual debt service
(TMADS). ACSF's financial profile has characteristics consistent
with a speculative grade rating.

ENROLLMENT ISSUES PERSIST: Aggregate enrollment at the 10 schools
leveled out, falling 0.7% in fall 2015 (fiscal 2016), much less
than the 12% decline in fall 2014 (fiscal 2015). Enrollment
volatility is uneven among the 10 schools and the recent declines
are a credit concern. However, the charter management organization
(CMO) has a track-record of managing effectively through enrollment
fluctuations, and fiscal 2015 operations were positive even with a
large enrollment decline.

STRUCTURAL BONDHOLDER PROVISIONS: Legal and structural security
measures include a trustee intercept of state aid. This provides
for payment of debt service before any pro-rata distribution of
revenues to the schools, and contractual subordination of the CMO
fee.

RATING SENSITIVITIES

MARGIN DETERIORATION: Should American Charter School Foundation's
operating margin deteriorate, causing transactional maximum annual
debt service coverage for the 10 bond schools to fall below 1x, or
further weakening of already slim balance sheet resources, negative
rating action is likely.

ENROLLMENT AND RENEWAL PRESSURES: Failure to stabilize enrollment
would negatively pressure the rating. Additionally, Fitch will
monitor charter renewals for the 10 schools, all of which expire in
2017 or 2018.

STANDARD SECTOR CONCERNS: A limited financial cushion, substantial
reliance on enrollment-driven, per-pupil funding and charter
renewal risk are credit concerns common among all charter school
transactions which, if pressured, could have a negative impact on
the rating.

CREDIT PROFILE

ACSF is composed of 10 high schools, nine of which operate in the
Phoenix, AZ metropolitan area. A tenth school operates in Tucson.
Enrollment in fall 2015 was 3,772, down 0.7% from fall 2014,
reflecting some stabilization from fall 2014 (enrollment of 3,800,
down 12% from the year before). All of the 10 bond schools are
alternative schools except for South Ridge High School. The schools
maintain independent charters from the Arizona State Board of
Charter Schools (ASBCS). Each charter has a 15-year term (which is
standard in Arizona) and expires in 2017 or 2018. The schools
currently remain in good standing under their charters, and ASBCS
reports a positive working relationship with the operator. Seven of
the schools' charters are up for renewal in 2017; the remaining
three in 2018.

The ACSF bond schools each have management agreements with the
Leona Group, one of the larger CMOs in Arizona. At this time, Leona
manages 58 charter schools nationwide, including 25 in Arizona,
including the 10 bond schools. Leona maintains dual headquarters in
Arizona and Michigan.

ENROLLMENT STRESSES OPERATIONS

Fall enrollment fell 0.7% in fall 2015, less than the 12% decline
in fall 2014. The prior two academic years saw enrollment increase
modestly. Fitch views enrollment volatility negatively, but notes
that fiscal 2015 operations were positive even with the large fall
2014 enrollment dip. The CMO has a track-record of managing
operations through enrollment volatility.

Management reports continued focus on growing enrollment, and notes
that most of the schools have available physical capacity.
Enrollment volatility over time is reflected in the 'BB' rating.

SLIM OPERATING PERFORMANCE

The 'BB' rating reflects a financial profile that Fitch considers
consistent with a non-investment-grade rating. ACSF's GAAP
operating margin varies year to year. Margins were 2.2% for the
fiscal year ending June 30, 2015, which compares to 4.1% in fiscal
2014, and negative 1.1% in fiscal 2013. Management projects fiscal
2016 operating results to be somewhat slimmer than fiscal 2015, but
still balanced.

The ACFS bond schools, as a group, have generated slim but positive
TMADS coverage in each of the last six years. Fitch defines TMADS
as maximum annual debt service excluding a balloon payment in the
last maturity (typically funded from the DSR). TMADS coverage was
1.3x for fiscal 2015, compared to 1.4x for fiscal 2014, and 1.1x in
2013. The annual debt service coverage requirement is 1x; a higher
coverage level is required for issuance of additional bonds.

LIMITED BALANCE SHEET

In addition to slim operating results, ACFS has a weak balance
sheet; both factors limit operating flexibility. Available funds,
defined as cash and investments not permanently restricted, was
$2.1 million at the end of fiscal 2015, improved from $1.5 million
in 2014 and $994,000 in 2013. Fiscal 2015 available funds still
represented a very slim 6.9% of operating expenses ($30.5 million)
and 2.9% of outstanding debt (about $73 million).

HIGH DEBT BURDEN

ACSF has a high debt burden, which is typical of the sector. TMADS
of $5.6 million (in 2038) represented 17.9% of fiscal 2015
operating revenues, comparable to recent years. No additional debt
is planned for the ACSF bond schools at this time.

ACADEMIC PERFORMANCE

All Arizona schools, including charter schools, transitioned to
Common Core (CC) academic standards and testing in the 2014/2015
academic year. This transition means that 2014/2015 academic test
results are not comparable to those of prior years, and the state
is still developing a rating scale for Arizona schools.
For the 2013/2014 academic year, seven of the schools met the ASBCS
dashboard expectations, and three did not. The academic performance
of the 10 schools varied widely; two received the highest 'A'
designation, four received a 'B', and four received a 'C'. During
the 2012/2013 academic year, all 10 schools met the state's
academic expectations.

For the 2014/2015 academic year, test results are expected to be
posted publicly, but school letter grades will not be assigned.
Fitch understands that 2014/2015 test results will not drive the
authorizer renewal process. Seven of the 10 ACSF bond schools have
charter expirations in 2017, and for five of those schools renewal
is not expected to be an issue due to meeting ASBCS dashboard
requirements in 2013/2014. For the other two 2017 renewal schools,
ACSF reports that they have provided academic progress data to
ASBCS.

Given the timing of ASCSF charter renewals, the lack of comparable
academic results, and the importance of academic performance
historically in that process, there is uncertainty in the 2017
renewal process.



ATKINSON INVESTMENT: Case Summary & 4 Top Unsecured Creditors
-------------------------------------------------------------
Debtor: Atkinson Investment Holding, Inc.
        3053 Sunset Lakes Blvd.
        Land O Lakes, FL 34638

Case No.: 16-00711

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 28, 2016

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

Debtor's Counsel: David W Steen, Esq.
                  DAVID W STEEN, P.A.
                  2901 W. Busch Boulevard, Suite 311
                  Tampa, FL 33618
                  Tel: (813) 251-3000
                  Fax: (813) 251-3100
                  Email: dwsteen@dsteenpa.com

Total Assets: $2.50 million

Total Liabilities: $2.16 million

The petition was signed by Ann-Margret Arbet, president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/flmb16-00711.pdf


ATLANTIC CITY, NJ: S&P Lowers Rating on GO Debt to 'CCC-'
---------------------------------------------------------
Standard & Poor's Ratings Services has lowered its rating on
Atlantic City, N.J.'s general obligation (GO) debt four notches to
'CCC-' from 'B' and placed the rating on CreditWatch Developing.

"The 'CCC-' rating reflects our opinion that a default, distressed
exchange, or redemption appears to be inevitable within six months,
absent unanticipated significantly favorable changes in the
issuer's circumstances," said Standard & Poor's credit analyst
Timothy Little.  "The city is currently vulnerable to non-payment
on its obligations and we believe it is likely to default without
an unforeseen positive development."  The city faces a near-term
liquidity crisis of potentially negative cash flow around April 1
if extraordinary state action is not taken to prevent a missed
payment.  The city's financial commitments appear, in our opinion,
to be unsustainable in the long term.  The CreditWatch Developing
reflects our opinion that there has been a material change in the
city's performance, but the magnitude of the rating effect has not
been fully determined, and our belief that a rating change is
likely in the short term.  Factors contributing to S&P's view of a
material change in the performance of the city include: (i) the
governor's veto of various aid bills for the city, (ii) an updated
report from the Emergency Manager regarding the long-term financial
recovery of the city, and (iii) pending litigation regarding
outstanding unfunded liabilities (principally tax appeals) that may
pressure the city's liquidity and ability to meet payments on its
bonded indebtedness.

"The CreditWatch Developing reflects the unusual circumstances
surrounding the city's current fiscal conditions," said Mr. Little,
"in particular, that the use of funds approved in the city's budget
for the payment of debt service by the state Department of
Community Affairs was vetoed by the governor."  The rating reflects
a potential near-term liquidity crisis that, if remedied, could
lead S&P to raise its rating if S&P no longer considers a payment
default inevitable within the six-month period absent unanticipated
significantly favorable changes.

The full faith, credit, and taxing power of the city is available
for the payment of principal and interest on its GO debt.  The
bonds are payable from ad valorem taxes levied on all taxable real
property in the city without limitation as to rate or amount.

"The CreditWatch Developing status reflects the governor's veto of
the city's aid package and the potential for a near-term liquidity
crisis without unanticipated significantly favorable changes in the
city's circumstances," added Mr. Little, "which could lead to
further downward rating action."  However, S&P also considers that
given the state's strong history of oversight and intervention
regarding its distressed municipalities there is potential for
state action to prevent the impending liquidity crisis, which could
lead to a higher rating.  Within the next 90-days, the city may
default on its obligations if it doesn't receive extraordinary
support.

If the city can achieve interim financing, prevent a near-term
liquidity crisis, and S&P's opinion of its liquidity and financial
position improves so that S&P no longer considers a payment default
inevitable within six months, absent unanticipated significantly
favorable changes, S&P may raise its rating. However, should the
city indicate it will likely miss a payment on its indebtedness,
file a bankruptcy petition indicating a missed payment or similar
action, intend to undertake an exchange offer or similar
restructuring that S&P classifies as distressed, or a default of an
issue to be a virtual certainty; S&P may revise its rating,
potentially into the 'CC' category and view payment on its
obligations as highly vulnerable.



ATLANTIC CITY, NJ: S&P Lowers Underlying Rating on GO Bonds to BB-
------------------------------------------------------------------
Standard & Poor's Ratings Services has lowered its underlying
rating on Atlantic City Board of Education, N.J.'s existing general
obligation (GO) bonds to 'BB-' from 'BBB-'.  At the same time, S&P
removed the rating from CreditWatch negative.  The outlook is
negative.

At the same time, S&P affirmed its 'A' school program rating.  The
outlook on the program rating is stable.

"The resolution of the CreditWatch negative by lowering the
underlying rating on the district to 'BB-' reflects our opinion of
its exposure to adverse economic and financial conditions and
ongoing uncertainties, leaving it vulnerable to unanticipated
deterioration of its financial position and liquidity," said
Standard & Poor's credit analyst Danielle Leonardis.

"The negative outlook reflects our opinion that the district may
face near-term liquidity pressures and a significant negative
reserve position in fiscal 2017 resulting from a structural
imbalance due to reductions in local revenue sources from an
eroding tax base and ongoing stress from Atlantic City, which is
responsible for levying and remitting property taxes to the
district."

The 'A' long-term rating reflects S&P's view of the district's
participation in the New Jersey Fund for the Support of Free Public
Schools.  The long-term rating continues to reflect the
creditworthiness of the program rating.

The bonds are secured by the district's full-faith-and-GO credit
pledge and further secured by the district's participation in the
New Jersey Fund for the Free Public School Program.

The full faith, credit, and taxing power of the district is
available for the payment of principal and interest on its GO debt.
The bonds are payable from ad valorem taxes levied on all taxable
real property in the district without limitation as to rate or
amount.

The district continues to face revenue uncertainty, and despite
efforts to right-size the budget and achieve structural balance,
pressures and uncertainty remain.  Some of the district's efforts
have included the appointment of a state monitor in February 2015,
by the Department of Education and the hiring of a full-time
business administrator.  However, the district relies on Atlantic
City for roughly 75% of its general fund revenues.  Because of the
city's current liquidity concerns, tax remittances have been
delayed 30 to 45 days.  If the city's liquidity continues to
deteriorate, it will likely pressure the school district.

The negative outlook reflects S&P's opinion that that the rating
may be further lowered as a result of the ongoing economic and
financial uncertainties the district is facing.  These
uncertainties include the potential for further delay or reduction
of city payments to the district, which the district budget may not
be able to absorb; uncertainty regarding a property tax increase,
which is partially associated with the inability to present a
structurally balanced budget; and a lack of clarity regarding any
further actions at the state level for support.  If the district's
liquidity is further compromised as a result of these uncertainties
or reserves significantly deteriorate, S&P might lower the rating
further.

S&P could revise the outlook to stable if the district's financial
position stabilizes, liquidity concerns are sufficiently addressed,
and the district maintains a positive reserve position.



BEAZER HOMES: Invesco Ltd. Reports 3.9% Stake as of Dec. 31
-----------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Invesco Ltd. disclosed that as of Dec. 31, 2015, it
beneficially owns 1,296,706 shares of common stock of
Beazer Homes USA Inc. representing 3.9 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/qCRAf1

                         About Beazer Homes

Beazer Homes USA, Inc. (NYSE: BZH) -- http://www.beazer.com/--
headquartered in Atlanta, is one of the country's 10 largest
single-family homebuilders with continuing operations in Arizona,
California, Delaware, Florida, Georgia, Indiana, Maryland, Nevada,
New Jersey, New Mexico, North Carolina, Pennsylvania, South
Carolina, Tennessee, Texas, and Virginia.  Beazer Homes is listed
on the New York Stock Exchange under the ticker symbol "BZH."

As of Sept. 30, 2015, Beazer Homes had $2.42 billion in total
assets, $1.79 billion in total liabilities and $630.42 million in
total stockholders' equity.

                           *     *     *

Beazer carries a 'B-' issuer credit rating, with "negative"
outlook, from Standard & Poor's.

In June 2015, Moody's Investors Service upgraded Beazer Homes USA,
Inc.'s Corporate Family Rating to B3 from Caa1 and its Probability
of Default Rating to B3-PD from Caa1-PD.

As reported by the TCR on Sept. 4, 2015, Fitch Ratings had affirmed
the ratings of Beazer Homes USA, Inc. (NYSE: BZH), including the
company's Issuer Default Rating (IDR), at 'B-'.  Beazer's 'B-' IDR
reflects the company's execution of its business model in the
current moderately recovering housing environment, land policies,
and geographic diversity.


BENZIE LEASING: Case Summary & 19 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Benzie Leasing, LLC
          dba Xpress Lube of Benzonia
          dba Bay Auto Wash
          dba Benzie Wash
        2840 Benzie Hwy
        Benzonia, MI 49616

Case No.: 16-00348

Chapter 11 Petition Date: January 28, 2016

Court: United States Bankruptcy Court
       Western District of Michigan (Grand Rapids)

Judge: Hon. James W. Boyd

Debtor's Counsel: Michael P. Corcoran, Esq.
                  CORCORAN LAW OFFICE
                  617 West Front Street
                  Traverse City, MI 49684
                  Tel: (231) 929-7000
                  Email: 2corm@charter.net

Total Assets: $817,220

Total Liabilities: $1.27 million

The petition was signed by David A. Wolfe, sole member and
manager.

A list of the Debtor's 19 largest unsecured creditors is available
for free at http://bankrupt.com/misc/miwb16-00348.pdf


BILL MICHAEL INC: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Bill Michael, Inc.
           dba Catfish Cove
        11112 Katie Beth Lane
        Oklahoma City, OK 73170

Case No.: 16-10236

Chapter 11 Petition Date: January 28, 2016

Court: United States Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: Hon. Sarah A. Hall

Debtor's Counsel: Clifton O. Gooding, Esq.
                  THE GOODING LAW FIRM, P.C.
                  650 City Place Building
                  204 N Robinson Avenue
                  Oklahoma City, OK 73102
                  Tel: (405) 948-1978
                  Fax: 405.948.0864
                  Email: cgooding@goodingfirm.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Bill Michael, owner/president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/okwb16-10236.pdf


BIOMED REALTY: Moody's Lowers Unsecured Debt Ratings to Ba1
-----------------------------------------------------------
Moody's Investors Service downgraded the unsecured debt ratings of
BioMed Realty Trust, Inc. to Ba1 from Baa2. This action concludes
the review that began on October 12, 2015. The rating outlook is
negative since the likelihood of additional leverage, particularly
secured leverage, as well as the deterioration of other credit
metrics is high.

The following ratings were downgraded with a negative outlook:

BioMed Realty Trust, Inc. -- Issuer rating to Ba1, from Baa2;
senior unsecured debt shelf to (P)Ba1, from (P)Baa2; subordinate
debt shelf to (P)Ba2, from (P)Baa3; preferred stock shelf to
(P)Ba2, from (P)Baa3.

BioMed Realty, L.P. -- Senior unsecured debt to Ba1, from Baa2;
senior unsecured debt shelf to (P)Ba1, from (P)Baa2; subordinate
debt shelf to (P)Ba2, from (P)Baa3.

RATINGS RATIONALE

On January 21, 2016, shareholders of BioMed approved the
acquisition of BioMed Realty Trust, Inc. by affiliates of
Blackstone Real Estate Partners VIII L.P. ("Blackstone"). On
January 27, 2016, BioMed announced the completion of the
acquisition. The downgrade to Ba1 reflects Moody's estimate of
secured leverage and encumbered assets, which are expected to
significantly increase upon consummation of the merger.

In connection with the transaction closing, BioMed Realty, L.P.
provided a notice of redemption for all outstanding senior
unsecured notes. In connection with the redemption of the senior
notes due in 2016, 2019, 2020 and 2022, BioMed has irrevocably
deposited with the U.S. Bank National Association, the trustee
under the indentures, cash in an amount sufficient to pay the
redemption price payable for all outstanding senior notes
(including accrued and unpaid interest) and all other sums payable
by BioMed under the applicable indenture. The redemptions will
occur as follows: the 3.85% senior notes due 2016 will be redeemed
on March 16, 2016; the 2.625% senior notes due 2019 will be
redeemed on February 11, 2016; and the 6.125% senior notes due 2020
and 4.25% senior notes due 2022 will both be redeemed on February
26, 2016.

Moody's last rating action with respect to BioMed was on October
12, 2015 when its ratings were placed on review for downgrade.

BioMed Realty Trust, Inc. is focused on delivering optimal real
estate solutions for biotechnology and pharmaceutical companies,
scientific research institutions, government agencies and other
entities involved in the life science industry. At September 30,
2015, BioMed owned or had interests in properties comprising
approximately 18.9 million rentable square feet, $6.5 billion in
total assets and $3 billion in total equity.





BOOMERANG TUBE: Court Confirms Second Amended Ch. 11 Plan
---------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware on Jan. 27, 2016, issued a findings of fact,
conclusions of law, and order confirming Boomerang Tube, LLC, et
al.'s Second Amended Joint Chapter 11 Plan, after a majority of
holders of claims entitled to vote on the Plan voted to accept the
Plan.

In a declaration filed by Jung W. Song, the managing director at
Donlin, Recano & Company, Inc., he said 100% of holders of Classes
3A, 3B, 3C, 4A, 4B, 4C, and 6B claims voted to accept the Plan.
added that 94.6% of holders of Class 6A claims and 87.5% of holders
of Class 6C claims voted to accept the Plan.  A full-text copy of
Mr. Jung's Declaration is available at
http://bankrupt.com/misc/BTtabreport.pdf

The Second Amended Plan retains many of the other benefits to the
Debtors and their estates that were set forth in the Prior Plan,
including reducing the Debtors' funded debt obligations by
converting approximately $214 million in outstanding principal of
Term Loan Facility obligations into (i) 100% of the New Holdco
Common Stock (subject to dilution for (x) issuances of equity under
a management incentive plan not to exceed 5% of the total
outstanding equity of New Holdco, and (y) by the Exit Term Facility
Closing Fee) and (ii) $55 million of subordinated secured notes
issued by New Opco.

The Plan will be financed with the proceeds of the committed Exit
Term Facility, which will be used to pay off the obligations under
the DIP Term Facility, fund expenses under the Plan, and provide
additional working capital to the Reorganized Debtors.  The Debtors
may also elect to enter into the Exit ABL Facility, which would be
used to pay off the obligations under the DIP ABL Facility and
provide additional working capital to the Reorganized Debtors.

Holders of General Unsecured Claims are estimated to recover 4% to
6% of their total allowed claims.

Prior to the confirmation hearing, the Debtors filed amended or
supplemental exhibits to the Plan Supplement.  Included in the
amendment is the Commitment Letter for the Exit Term Facility,
which was modified so that the maturity date for the Exit Term
Facility was reduced from the fifty-seven (57) month anniversary of
the Exit Term Facility to the three (3) year anniversary of the
Exit Term Facility.

Judge Walrath, on Dec. 29, 2015, issued an order approving the
Disclosure Statement explaining the Debtors' Plan on a preliminary
basis.  The preliminary order gave SB Boomerang Tubular, LLC, until
Jan. 8 to make any election under Section 1111(6) of the Bankruptcy
Code.

A full-text copy of Judge Walrath's Confirmation Order is available
at http://bankrupt.com/misc/BTplanord0127.pdf

                     About Boomerang Tube

Boomerang Tube, LLC, is a manufacturer of welded Oil Country
Tubular Goods ("OCTG") in the United States.  OCTG are used by
drillers in exploration and production of oil and natural gas and
consist of drill pipe, casing and tubing.  Boomerang has corporate
offices in Chesterfield, Missouri and manufacturing facilities in
Liberty, Texas, strategically located near major steel production
centers and end-user markets.  With a 487,000 square foot plant
that houses two mills and heat treat lines and a contingent 119
acres, these facilities constitute the second largest alloy OCTG
mill in North America.  Access Tubulars, LLC, owns 81% of the
equity interests in Boomerang.

Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
15-11247) on June 9, 2015, with a deal with lenders on a balance
sheet restructuring that would convert $214 million of debt to
100% of the common stock of the reorganized company.

The cases are assigned to Judge Mary F. Walrath.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
attorneys; Lazard Freres & Co. LLC, as financial advisor; and
Donlin, Recano & Co., Inc., as claims and noticing agent.


BOOMERANG TUBE: Exclusive Solicitation Period Extended to June 2
----------------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware extended the period by which Boomerang Tube, LLC, et
al., have exclusive authority to file a plan through and including
April 4, 2016, and the period by which the Debtors have exclusive
authority to solicit acceptances of the plan through and including
June 2, 2016.

Judge Walrath, on Jan. 27, 2016, confirmed the Debtors' Joint
Chapter 11 Plan.

                     About Boomerang Tube

Boomerang Tube, LLC, is a manufacturer of welded Oil Country
Tubular Goods ("OCTG") in the United States.  OCTG are used by
drillers in exploration and production of oil and natural gas and
consist of drill pipe, casing and tubing.  Boomerang has corporate
offices in Chesterfield, Missouri and manufacturing facilities in
Liberty, Texas, strategically located near major steel production
centers and end-user markets.  With a 487,000 square foot plant
that houses two mills and heat treat lines and a contingent 119
acres, these facilities constitute the second largest alloy OCTG
mill in North America.  Access Tubulars, LLC, owns 81% of the
equity interests in Boomerang.

Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
15-11247) on June 9, 2015, with a deal with lenders on a balance
sheet restructuring that would convert $214 million of debt to
100% of the common stock of the reorganized company.

The cases are assigned to Judge Mary F. Walrath.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
attorneys; Lazard Freres & Co. LLC, as financial advisor; and
Donlin, Recano & Co., Inc., as claims and noticing agent.


CHAMPION INDUSTRIES: Incurs $1.19 Million Net Loss in Fiscal 2015
-----------------------------------------------------------------
Champion Industries, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$1.19 million on $61.28 million of total revenues for the year
ended Dec. 31, 2015, compared to a net loss of $1.13 million on
$63.52 million of total revenues for the year ended Oct. 31, 2014.

As of Oct. 31, 2015, the Company had $22.92 million in total
assets, $20.91 million in total liabilities and $2.01 million in
total shareholders' equity.

As of Oct. 31, 2015, the Company had a $0.5 million book cash
balance.  Working capital as of Oct. 31, 2015, was $1.8 million.
The working capital includes $2.5 million of debt to a shareholder
that the Company intends to convert to Preferred Stock upon
approval by shareholders at its Annual Meeting of Shareholders
expected to be held March 21, 2016.  Assuming this action is
approved, the Company's working capital at Oct. 31, 2015, would be
$4.3 million.

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

                     http://is.gd/pOqboa

                  About Champion Industries

Champion Industries, Inc., is engaged in the commercial printing
and office products and furniture supply business in regional
markets east of the Mississippi River.  The Company also publishes
The Herald-Dispatch daily newspaper in Huntington, West Virginia
with a total daily and Sunday circulation of approximately 23,000
and 28,000.


CHENIERE ENERGY: S&P Affirms 'BB' CCR, Outlook Stable
-----------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB' corporate
credit rating on Cheniere Energy Partners L.P. (CQP) on Jan. 26,
2016, following its assessment of the potential credit implications
of CQP's plan to obtain a $2.8 billion senior secured credit
facility and use most of the capacity to repay a similar amount of
debt at two of its subsidiaries.  The outlook is stable.

CQP plans to repay $400 million in senior secured term loan B debt
at its Creole Trail pipeline subsidiary soon after arranging the
facility and about $2.1 billion in senior secured notes at
regasification project Sabine Pass LNG (SPLNG) later in 2016.  The
plan does not result in any change to S&P's assessment of CQP's
business risk profile as fair or S&P's assessment of the company's
financial risk profile as intermediate.  S&P continues to add more
weight in its financial analysis to years 2018 to 2020 because the
Sabine Pass Liquefaction project is not expected to make
distributions until 2020 since construction won't be complete until
late 2019.

"The decision to raise debt at the CQP level differs from our
expectations based on previous conversations with CQP owners that
debt would remain at the project level, but we consider the debt
reduction at the subsidiary level as a mitigant to the higher
amount of corporate level debt," said Standard & Poor's credit
analyst Terry Pratt.  This seems a first step to establish a
long-term capital structure for CQP and its part owner and general
partner, Cheniere Energy Inc. (CEI)

CQP's interests are CEI, a unit of Blackstone, and the public.  S&P
continues to apply a negative financial policy assessment to the
company, reflecting the potential for higher financial risk profile
in the future.  Although CEI is the general partner of CQP, is does
not control CQP based on the management agreement with Blackstone.

The stable outlook reflects the stable cash flow from SPLNG and the
construction progress at SPLIQ that will likely remain within S&P's
schedule and budget expectations.

An upgrade would require an improvement in the business risk
profile or material deleveraging--both of which S&P thinks unlikely
at this time.

Factors that could lead to a downgrade would be S&P's assessment of
the financial risk profile falling to significant from
intermediate.  This would generally require S&P's expectation that
EBITDA would decline materially from its expectations in 2020 which
is unlikely.



CHINA GINSENG: Guoqin Yin Quits as Chairman and CEO
---------------------------------------------------
Mr. Guoqin Yin tendered his resignation to China Ginseng Holdings,
Inc. as the Company's chairman, director and chief executive
officer.  Mr. Yin's resignation did not result from any
disagreement regarding any matter related to the Company's
operations, policies or practices.

The Company's Board of Directors accepted Mr. Yin's resignation and
simultaneously appointed Mr. Long He as its chairman, director and
chief executive officer.

Mr. He has extensive experience in green and organic agriculture
and food & restaurant industry.  Mr. He is an owner of a green
organic agricultural entity, Fujing Lifeng Rice Cooperatives, which
was incorporated in 2009 and operates under a cooperation agreement
with Suibin County Government of Heilongjian Province in China and
an owner of a restaurant, LongHe Grill, opened in 2004 in Jiamusi
City, Heilongjian Province which later became a chain restaurant in
China in 2007.  Mr. He graduated from Shijiazhuang Huabei Medical
College in 2000 with an associate degree and major in clinical
care.

The Company is currently negotiating the terms of Mr. He's
employment agreement, and will file a copy of the agreement when it
becomes available.   

                      About China Ginseng

Changchun City, China-based China Ginseng Holdings, Inc., conducts
business through its four wholly-owned subsidiaries located in
China.  The Company has been granted 20-year land use rights to
3,705 acres of lands by the Chinese government for ginseng
planting and it controls, through lease, approximately 750 acres
of grape vineyards.  However, recent harvests of grapes showed
poor quality for wine production which indicates that the
vineyards are no longer suitable for planting grapes for wine
production.  Therefore, the Company has decided not to renew its
lease for the vineyards with the Chinese government upon
expiration in 2013 and, going forward, it intends to purchase
grapes from the open market in order to produce grape juice and
wine.

China Ginseng reported a net loss of $3.90 million on $272,600 of
revenue for the year ended June 30, 2015, compared with a net loss
of $4.76 million on $2.61 million of revenue for the year ended
June 30, 2014.

As of Sept. 30, 2015, the Company had $8.58 million in total
assets, $19.09 million in total liabilities and a total
stockholders' deficit of $10.5 million.

Cowan, Gunteski & Co., P.A., in Tinton Falls, NJ, issued a "going
concern" qualification on the consolidated financial statements for
the year ended June 30, 2015, citing that the Company had net
losses of $3.90 million and $4.76 million for the years ended June
30, 2015 and 2014, respectively, an accumulated deficit of $18.1
million at June 30, 2015 and a working capital deficit of $16.5
million at June 30, 2015, and there are existing uncertain
conditions the Company faces relative to its ability to obtain
working capital and operate successfully.  These conditions raise
substantial doubt about its ability to continue as a going concern.


CINCINNATI BELL: S&P Affirms 'B' CCR; Outlook Remains Stable
------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'B'
corporate credit rating, and all other ratings, on Ohio-based
telecom company Cincinnati Bell Inc.  The outlook remains stable.

"We have revised Cincinnati Bell's financial risk profile upward to
aggressive from highly leveraged based on our expectation that the
ratio of lease- and pension-adjusted debt to EBITDA will be in the
mid-to-high 4x area over the next 12 to 18 months," said Standard &
Poor's credit analyst William Savage.

Over the course of 2015, the company has reduced its stake in
CyrusOne and used the proceeds to repay debt, offsetting modest
EBITDA declines and reducing leverage below 5x, S&P's threshold for
a highly leveraged financial risk profile.

The outlook is stable.  S&P expects that liquidity will remain
adequate despite negative FOCF through at least 2016.  In addition,
we expect lease- and pension-adjusted leverage will be below 5x in
the near term, with the possibility that leverage could decline
further over the next 12 months with the sale of the company's
remaining 9.5% stake in CyrusOne.

S&P views a downgrade as unlikely over the next 12 months.  S&P
could lower the rating in the longer term if fully adjusted
leverage (net of S&P's valuation for any remaining stake in
CyrusOne) rises above 5x on a sustained basis or if FOCF is
negative for an extended period as a result of EBITDA declines, in
conjunction with increased capital spending related to fiber
investments.  Although unlikely, S&P believes that such a scenario
would be the result of a reversal of revenue trends in the wireline
segment.

S&P do not believe an upgrade is likely in the near term, but could
occur if the company reduces adjusted leverage to the low 4x area
or below on a sustained basis, in conjunction with relatively
stable wireline revenue and profitability as well as a path toward
positive FOCF.



CLIFFS NATURAL: George Connell Reports 9.3% Stake as of Dec. 31
---------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, George W. Connell disclosed that as of Dec. 31, 2015,
it beneficially owns 14,300,000 shares of common stock of Cliffs
Natural Resources, Inc. representing 9.32 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/9Z3WDR

                  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.


CLIFFS NATURAL: S&P Lowers CCR to 'CC', Outlook Negative
--------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Cleveland-based iron ore producer Cliffs Natural
Resources Inc. to 'CC' from 'B'.  The outlook is negative.

At the same time, S&P also lowered the issue-level ratings on the
company's second-lien notes to 'CC' from 'BB-' and on its senior
unsecured notes to 'CC' from 'B'.

The issue-level rating on the first-lien debt remains unchanged at
'BB-'.

The rating action reflects Cliffs' Jan. 27, 2016, announcement of a
private debt exchange offer for its second-lien and senior
unsecured debt.  S&P is lowering the corporate credit rating and
the issue-level ratings on the affected debt because S&P views the
exchange to be distressed, according to its criteria.  This
determination is based on the company's financial condition and the
significant discounts associated with the exchange offer.

"The outlook on the corporate credit rating is negative, indicating
that if the exchange offer proceeds, we intend to lower the
corporate credit rating to 'SD' and the affected issue-level
ratings to 'D'," said Standard & Poor's credit analyst Chiza Vitta.
"Subsequently, we would assign a corporate credit rating and
outlook that would reflect the new capital structure."



COYNE INTERNATIONAL: Hires Pyramid as Broker for Remaining Assets
-----------------------------------------------------------------
Coyne International Enterprises Corp. sought and obtained authority
from Judge Margaret Cangilos-Ruiz of the U.S. Bankruptcy Court for
the Northern District of New York to employ Pyramid Brokerage
Company, as lead real estate co-broker.

Pursuant to a memorandum of understanding between the Broker and
the Debtor, the Broker will list for sale, at a commission rate of
7% of the purchase price, the portion of the real property assets
that were that sold pursuant to several sale transactions last
year.  The remaining real property assets are located in Bristol,
TN; Buffalo, NY; Cleveland, NY; and Syracuse, NY.  The Broker will
market the properties and seek to obtain contracts for the sale of
each of the properties prior to the auction.

The Broker will maintain comprehensive records of parties who have
been shown each property, parties who register for the Auction,
parties from whom offers are received, and other interested
parties.  If the Broker is unable to obtain a sales contract for
any real property prior to the Auction, the Broker will provide the
Auctioneer the list of interested parties.  If a party from the
list of interested parties is ultimately the successful bidder on a
real property asset at the Auction, then the Broker and the
Auctioneer will each receive a 2.5% commission.

The Court authorizes the Broker to seek compensation of 7% of the
purchase price of any sale of the Debtor's real property assets.
All sale proceeds remaining after reimbursement of the Auctioneer
of an amount equal to the Guarantee Price Funds and reimbursement
of out-of-pocket expenses will be remitted to the Debtor and all
funds will be segregated by the Debtor and subject to the security
interests of Medley Opportunity Fund II, LP.

John Clark, president of Pyramid, assures the Court that his 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.

Mr. Clark may be reached at:

         John L. Clark, SIOR, CRE
         President – Syracuse
         Real Estate Broker
         5786 Widewaters Pkwy, P.O. Box 3
         Syracuse, NY 13214
         T: +1 (315) 445-8509
         M: +1 (315) 491-8509
         F: +1 (315) 445-2074
         Email: jclark@pyramidbrokerage.com

               About Coyne International

Coyne International Enterprises Corp. filed a Chapter 11 Bankruptcy
petition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015.  The
petition was signed by Mark Samson as CEO.  

Herrick Feinstein LLP serves as the Debtor's general counsel.
Phillips Lytle LLP acts as the Debtor's local bankruptcy counsel.
Cohnreznick LLP is the Debtor's financial advisor. SSG Capital
Advisors LLC is the Debtor's investment banker. Rust Omni serves
the Debtor as claims and administrative agent. Raab, Sturm &
Ganchrow, LLP acts as labor counsel to the Debtor.  Harbridge
Consulting Group, LLC serves as the Debtor's pension consultant.

Beveridge & Diamond PC is the Debtor's environmental counsel.  GZA
Geoenvironmental, Inc. serves as the Debtor's environmental
consultant.

The Troubled Company Reporter, on Jan. 12, 2016, reported that
Medley Opportunity Fund II LP sought and obtained from Judge
Margaret Cangilos-Ruiz the conversion of its Chapter 11 case to a
case under Chapter 7.


COYNE INTERNATIONAL: Taps BidItUp to Auction Remaining Assets
-------------------------------------------------------------
Coyne International Enterprises Corp. sought and obtained authority
from Judge Margaret Cangilos-Ruiz of the U.S. Bankruptcy Court for
the Northern District of New York to employ Industrial Assets
Corp., doing business as BidItUp Auctions, Worldwide, Inc., and its
joint venture partner, Maynard's Industries, as auctioneer and
non-exclusive real estate co-broker.

After the successful auction in October, the Debtor began to
develop a strategy to liquidate its remaining real and personal
property assets.  The Debtor approached several parties in the
equipment auction industry and solicited proposals from four
companies, including the Auctioneer.  The Auctioneer's Guaranteed
Price of $1 million is more than 25% of the highest of the offers
from other parties and is substantially greater than the aggregate
liquidation value of $407,236 that the Debtor attributes to the
Equipment.

The material terms of the engagement include:

   (a) The Auctioneer will guarantee the Debtor the sum of
       $1,000,000.  The Guaranteed Price is paid upfront and
       is nonrefundable.  The Auctioneer will pay the Debtor a
       deposit of 15% upon execution of an asset purchase
       agreement with the Auctioneer, which will be credited to
       the Guarantee Price.  The balance of the Guarantee Price
       will be paid to the Debtor no later than 48 hours prior to
       the Auction.

   (b) The Auctioneer will conduct a public auction of the
       Equipment, free and clear of any liens, claims, interests
       and encumbrances, approximately 8-12 weeks following Court
       approval, on a date to be determined by the Debtor and the
       Auctioneer.  The Equipment will be sold "as is, where is."
       The Auctioneer will be granted access to the Debtor's
       facilities to conduct the Auction.

   (c) The Auctioneer will retain the first $1,000,000 of Auction
       proceeds as reimbursement of the Guarantee Price and the
       next $150,000 of Auction proceeds to offset Auction
       expenses advanced by the Auctioneer.  All Auction proceeds
       in excess of $1,150,000 will be paid to the Debtor, with
       the Auctioneer charging and retaining industry standard
       buyer's premium of 18%, which buyer's premium will be paid
       by the buyer directly to the Auctioneer and will not become
       property of the Debtor's estate.

   (d) The Auctioneer will market the real properties in which the
       Equipment is located, and maintain a list of parties that
       are interested in the real properties.  To the extent that
       a party identified by the Auctioneer through its marketing
       efforts is the successful bidder for any real property that
       is sold at the Auction, the Auctioneer will be entitled to
       a 2.5% commission, representing a portion of the commission
       that would otherwise be payable to the Debtor's broker.

   (e) The Auctioneer will market the Equipment and real estate,
       the marketing to include direct mailers to over 10,000
       businesses and individuals domestically and several
       thousand internationally, advertising in trade
       publications, and email marketing to over 200,000 approved
       and vetted email addresses.

Immediately after the approval of the Debtor's request to sell its
assets, the Auctioneer is authorized to pay to the Debtor any
unpaid portion of the Guarantee Price of $1,000,000.  The
Auctioneer may be reimbursed for out-of-pocket expenses in an
amount not to exceed $150,000.

Venice Gamble, Director Legal & Business Development of Industrial
Assets Corp., doing business as BidItUp Auctions, Worldwide, Inc.
and its affilate Maynard's Industries, Inc., assures the Court that
her 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.

Ms. Gamble may be reached at:

         Venice Gamble
         Industrial Assets Corp.
         Tel: 818-508-7034 ext. 215
         Email: vgamble@industrialassets.com

               About Coyne International

Coyne International Enterprises Corp. filed a Chapter 11 Bankruptcy
petition (Bankr. N.D.N.Y. Case No. 15-31160) on July 31, 2015.  The
petition was signed by Mark Samson as CEO.  

Herrick Feinstein LLP serves as the Debtor's general counsel.
Phillips Lytle LLP acts as the Debtor's local bankruptcy counsel.
Cohnreznick LLP is the Debtor's financial advisor. SSG Capital
Advisors LLC is the Debtor's investment banker. Rust Omni serves
the Debtor as claims and administrative agent. Raab, Sturm &
Ganchrow, LLP acts as labor counsel to the Debtor.  Harbridge
Consulting Group, LLC serves as the Debtor's pension consultant.

Beveridge & Diamond PC is the Debtor's environmental counsel.  GZA
Geoenvironmental, Inc. serves as the Debtor's environmental
consultant.

The Troubled Company Reporter, on Jan. 12, 2016, reported that
Medley Opportunity Fund II LP sought and obtained from Judge
Margaret Cangilos-Ruiz the conversion of its Chapter 11 case to a
case under Chapter 7.


CSI COMPRESSCO: S&P Lowers CCR to 'B-', Outlook Stable
------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit and
senior unsecured debt ratings on CSI Compresscco L.P. to 'B-' from
'B'.  The outlook is stable.

The recovery rating on the senior unsecured debt remains '4',
indicating expectations for average (50% to 70%; upper half of the
range) recovery in a payment default.

"The downgrade reflects our expectation that Compressco's credit
measures will weaken as natural gas producers reduce production in
response to weak natural gas prices," said Standard & Poor's credit
analyst Geoffrey Mrema.  Standard & Poor's Ratings Services now
expects natural gas prices to remain weak through at least the end
of 2016.  Although CSI Compressco benefits from having a large
percentage of fee-based cash flows, it is still exposed to oil and
gas industry capital spending, which tends to fall when commodity
prices are low.  In this low commodity price environment, S&P
expects that producers may attempt to negotiate lower prices for
services, like compression, which could put downward pressure on
margins for Compressco.  The combination of weak commodity prices,
depressed unit prices for master limited partnerships (MLPs), and a
challenging credit market will make it difficult for Compressco to
fund external capital in a balanced manner to fund capital
expenditures and distributions.  S&P now forecasts adjusted debt to
EBTIDA of 5x to 5.25x compared to its previous expectations of
adjusted debt to EBTIDA of about 4.5x.

The stable outlook reflects S&P's expectation that CSI Compressco
will optimize its fleet to minimize declines in utilization rates
and aggressively manage costs while maintaining adequate
liquidity.

S&P could lower the ratings if liquidity becomes constrained or if
EBITDA decreases and S&P believes the capital structure could be
unsustainable unless industry conditions improve.

S&P could raise the ratings if the partnership can maintain debt to
EBITDA below 5x and adequate liquidity, particularly during these
difficult market conditions.



CTI BIOPHARMA: NB Public Equity, et al., Report 5.5% Stake
----------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, NB Public Equity K/S, NB Public Equity Komplementar
ApS, Cora Madsen and Florian Schonharting disclosed that as of
Jan. 25, 2016, they beneficially own 12,666,354 shares of common
stock of CTI BioPharma Corp. representing 5.5 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/l4tJy4

                        About CTI BioPharma

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

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

As of Sept. 30, 2015, the Company had $63.1 million in total
assets, $90.6 million in total liabilities and a $27.5 million
total shareholders' deficit.


CURO HEALTH: S&P Affirms 'B' Rating on 1st Lien Debt
----------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' issue-level
rating on hospice care provider Curo Health Services Holdings
Inc.'s first-lien debt. The recovery rating on this debt remains
'3'.  S&P also affirmed its 'CCC+' issue-level rating on Curo's
second-lien debt.  The recovery remains '6'.

Although S&P views the recovery prospects for first-lien lenders as
improved following the close of the $126 million acquisition of New
Century Hospice, Inc., funded primarily with $95 million of
incremental second-lien debt, this improvement was not sufficient
to move the rating.

The '3' recovery rating on the first-lien debt indicates S&P's
expectation for meaningful (50% to 70%, at the higher end of the
range) recovery in the event of a payment default.  The '6'
recovery rating on the second-lien debt indicates S&P's expectation
for negligible (0% to 10%) recovery in the event of a payment
default.

S&P's corporate credit rating of 'B' is also unchanged and reflects
its assessment of business risk as weak and S&P's assessment of
financial risk as highly leveraged.

S&P's assessment of a weak business risk profile is based on its
narrow focus as a provider of hospice services, the highly
fragmented nature of the hospice industry, reimbursement risk, and
modest scale.  This is partially offset by the favorable
demographic trends and the company's improving operational
performance over the past few years.  S&P's assessment of a highly
leveraged financial risk profile reflects our expectation for debt
leverage to be about 7x and for the ratio of funds from operations
(FFO) to debt to be below 10%, for 2016.  It also reflects S&P's
expectation that leverage will remain above 5x, given ownership by
private equity sponsors.

RECOVERY ANALYSIS

Key analytical factors:

   -- S&P estimates that for Curo to default, EBITDA would need to

      decline to about $61 million, which is S&P's estimate of the

      company's fixed charges (interest, debt amortization, and
      minimal capital expenditures) at that point in time.

   -- Given the company's market position within the very
      fragmented hospice sector, S&P would expect the company to
      be reorganized if there were to be an event of default.

   -- S&P valued the company applying a 5x multiple to S&P's
      default level EBITDA.

   -- S&P's hypothetical default scenario contemplates a default
      stemming primarily from a decline or adverse change in
      Medicare reimbursement for hospice services.

Simulated default and valuation assumptions:

   -- Simulated year of default: 2018
   -- EBITDA at emergence: $61 million
   -- EBITDA multiple: 5x

Simplified waterfall:

   -- Net enterprise value (after 5% administrative costs):
      $290 mil.
   -- Valuation split in % (obligors/nonobligors): 100/0
      ----------------------------------------------------------
   -- Collateral value available to 1st lien secured creditors:
      $290 million
   -- Secured first-lien debt: $423 million
      -- Recovery expectations: 50% to 70% (high end of the range)
      -----------------------------------------------------------
   -- Total value available to second-lien secured claims: $0
   -- Second-lien debt claims: $227 million
      -- Recovery expectations: 0% to 10%

Notes: All debt amounts include six months' prepetition interest.

RATINGS LIST

Curo Health Services Holdings Inc.
Corporate Credit Rating                  B/Stable/--

Ratings Affirmed; Recovery Ratings Unchanged
Curo Health Services Holdings Inc.
Senior Secured First-Lien                B
  Recovery Rating                         3H
Senior Secured Second-Lien               CCC+
  Recovery Rating                         6



DENTAL KIDZ: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: Dental Kidz, LLC
        24 Commerce Street, 11th Floor
        Newark, NJ 07102

Case No.: 16-11434

Nature of Business: Health Care

Chapter 11 Petition Date: January 28, 2016

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

Judge: Hon. Stacey L. Meisel

Debtor's Counsel: Eric R. Perkins, Esq.
                  MCELROY, DEUTSCH, MULVANEY & CARPENTER, LLP
                  40 West Ridgewood Avenue
                  Ridgewood, NJ 07450
                  Tel: 201-445-6722
                  Fax: 201-445-5376
                  Email: eperkins@mdmc-law.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Christopher Harvell, CEO.

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


DIFFERENTIAL BRANDS: Names Michael Buckley CEO
----------------------------------------------
Samuel J. Furrow resigned from his position as interim chief
executive officer and Chairman of the Board of Directors, and each
of Joanne Calabrese and Suhail R. Rizvi resigned as directors of
Differential Brands Group Inc.

In connection with the consummation of the Merger, on Jan. 28,
2016, Michael Buckley was elected as chief executive officer of the
Company.

Pursuant to the terms of the employment agreement, Mr. Buckley will
report to the Company's Board of Directors, for an initial
three-year term with automatic, one-year renewal terms, unless the
Company or Mr. Buckley gives notice 180 days prior to the end of
the then-current term.

The employment agreement provides that the Company will pay Mr.
Buckley an annual base salary of $600,000 and that Mr. Buckley will
be eligible to receive an annual bonus of up to 150% of his base
salary, based on the Company's achievement of annual EBITDA targets
set by the Compensation Committee of the Board of Directors after
consultation with Mr. Buckley.

The employment agreement also provides that the Company will grant
Mr. Buckley a restricted stock unit award in respect of 433,764
shares of Company common stock.  The RSU Award will vest in annual
installments over a three-year period with the first installment
vesting on Dec. 31, 2016, subject to Mr. Buckley's continued
employment through the applicable vesting dates.  The Company will
also grant Mr. Buckley a performance share unit award in respect of
347,011 shares of Company common stock.  The PSU Award will vest in
annual installments over a three-year period, based on the
Company's achievement of EBITDA targets set by the Compensation
Committee and subject to Mr. Buckley's continued employment through
the applicable vesting dates.

                    About Differential Brands

Joe's Jeans Inc. -- http://www.joesjeans.com/-- designs, produces
and sells apparel and apparel-related products to the retail and
premium markets under the Joe's(R) brand and related trademarks.

Joe's Jeans Inc. has completed the merger combining Hudson Jeans
and Robert Graham.  Additionally, the company has been renamed
Differential Brands Group Inc. and will remain publicly listed on
NASDAQ under the ticker DFBG.

As of Aug. 31, 2015, the Company had $172 million in total
assets, $149 million in total liabilities and $22.6 million in
total stockholders' equity.

In its audit report on the consolidated financial statements for
the year ended Nov. 30, 2014, Moss Adams LLP expressed substantial
doubt about the Company's ability to continue as a going concern,
citing that the Company has a net working capital deficiency due to
debt covenant violations and has suffered recurring losses from
operations.

The Company reported a net loss of $27.7 million on $189 million of
net sales for the fiscal year ended Nov. 30, 2014, compared with a
net loss of $7.31 million on $140 million of net sales in 2013.


DIFFERENTIAL BRANDS: Signs Credit Pacts With Wells Fargo, et al.
----------------------------------------------------------------
Differential Brands Group Inc. (formerly named Joe's Jeans Inc.),
and certain of its subsidiaries entered into (i) a new credit and
security agreement with Wells Fargo Bank, National Association, as
lender, and (ii) a new credit and security agreement with TCW Asset
Management Company, as agent, and the lenders party thereto.

The ABL Credit Agreement provides for a senior secured asset-based
revolving credit facility with commitments in an aggregate
principal amount of $40 million.  The Term Credit Agreement
provides for a senior secured term loan credit facility in an
aggregate principal amount of $50 million.  The Term Facility
matures on the date that is five years after the Closing Date.  The
Revolving Facility matures on the date that is the earlier of five
years after the Closing Date and the date which is 90 days prior to
the maturity date of the Term Facility.  The amount available to be
drawn under the Revolving Facility will be based on the borrowing
base values attributed to eligible accounts receivable and eligible
inventory.

Certain domestic subsidiaries of the Company are co-borrowers under
the Credit Agreements.  The obligations under the Credit Agreements
are guaranteed by the domestic subsidiaries of the Company that are
not co-borrowers under the Credit Agreements and are secured by
substantially all assets of the Company and its domestic
subsidiaries.

There are no scheduled payments under the Revolving Facility.  The
Term Facility will be subject to quarterly payments of principal as
follows: (i) 0.25% for each of the first four fiscal quarters; (ii)
0.625% for each of the four fiscal quarters thereafter; (iii) 1.25%
for each of the next following four fiscal quarters; (iv) 1.875%
for each of the next following four fiscal quarters; and (v) 2.50%
for each fiscal quarter thereafter, with the balance payable at
maturity.

The Term Facility includes mandatory prepayments customary for
credit facilities of its nature, including, subject to certain
exceptions: (i) 100% of the net cash proceeds from issuances of
debt that is not permitted and certain equity issuances; (ii) 100%
of the net cash proceeds from certain non-ordinary course asset
sales, subject to customary exceptions and reinvestment rights;
(iii) 100% of certain insurance proceeds and condemnation
recoveries, subject to customary exceptions and reinvestment
rights; (iv) 100% of the net cash proceeds from certain
extraordinary receipts; and (v) a variable percentage of excess
cash flow of 50% or 25% depending on the Company's senior leverage
ratio.  Outstanding loans under the Term Facility may be prepaid at
any time at the option of the Company subject to customary
"breakage" costs with respect to LIBO rate loans.  Subject to
certain exceptions, prepayments of loans under the Term Facility
are subject to a prepayment premium of (i) 2.00% during the first
year after the Closing Date and (ii) 1.00% during the second year
after the Closing Date.  The Revolving Facility is required to be
prepaid to the extent extensions of credit thereunder exceed the
applicable borrowing base.  Outstanding loans under the Revolving
Facility may be prepaid at any time at the option of the Company
without premium or penalty, other than customary "breakage" costs
with respect to LIBO rate loans.

The ABL Credit Agreement provides that, subject to customary
conditions, the Company and certain of its subsidiaries as
borrowers thereunder may seek to obtain incremental commitments
under the Revolving Facility in an aggregate amount not to exceed
$10 million.  The Term Credit Agreement provides that, subject to
customary conditions, the Company and certain of its subsidiaries
as borrowers thereunder may seek to obtain incremental term loans
under the Term Facility in an aggregate amount not to exceed $50
million.  The Company does not currently have any commitments for
such incremental loans under either Facility.

Borrowings under the Credit Agreements will bear interest at a rate
equal to either, at the Company's option, an adjusted base rate or
the LIBO rate (subject to a 0.50% floor for borrowings under the
Term Facility), in each case plus an applicable margin.  The
applicable margins for borrowing under the Term Facility (which
varies based on the Company's senior leverage ratio) range from
8.00% to 6.00% for base rate loans and 9.00% to 7.00% for LIBO rate
loans.  The applicable margin for borrowings under the Revolving
Facility is 0.50% for base rate loans and 1.75% for LIBO rate
loans.  An unused commitment fee equal to 0.25% per annum of the
average daily amount by which the total commitments under the
Revolving Facility exceeds the outstanding usage under the
Revolving Facility will be payable monthly in arrears.

                     About Differential Brands

Joe's Jeans Inc. -- http://www.joesjeans.com/-- designs, produces
and sells apparel and apparel-related products to the retail and
premium markets under the Joe's(R) brand and related trademarks.

Joe's Jeans Inc. has completed the merger combining Hudson Jeans
and Robert Graham.  Additionally, the company has been renamed
Differential Brands Group Inc. and will remain publicly listed on
NASDAQ under the ticker DFBG.

As of Aug. 31, 2015, the Company had $172 million in total
assets, $149 million in total liabilities and $22.6 million in
total stockholders' equity.

In its audit report on the consolidated financial statements for
the year ended Nov. 30, 2014, Moss Adams LLP expressed substantial
doubt about the Company's ability to continue as a going concern,
citing that the Company has a net working capital deficiency due to
debt covenant violations and has suffered recurring losses from
operations.

The Company reported a net loss of $27.7 million on $189 million of
net sales for the fiscal year ended Nov. 30, 2014, compared with a
net loss of $7.31 million on $140 million of net sales in 2013.


DOVER DOWNS: Reports Results for Q4 and Full Year 2015
------------------------------------------------------
Dover Downs Gaming & Entertainment, Inc., reported net earnings of
$768,000 on $46.11 million of revenues for the three months ended
Dec. 31, 2015, compared to a net loss of $516,000 on $45.71 million
of revenues for the same period in 2014.

For the year ended Dec. 31, 2015, the Company reported net earnings
of $1.87 million on $182.94 million of revenues compared to a net
loss of $706,000 on $185.38 million of revenues for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $173.95 million in total
assets, $58.94 million in total liabilities and $115 million in
total stockholders' equity.

Denis McGlynn, the Company's president and chief executive officer,
stated: "Despite a reduction in gaming revenues, we managed to
achieve minor earnings improvement last year through various cost
containment measures.  We remain focused on the challenges to come.
In addition to cost increases most businesses are dealing with,
such as in healthcare, minimum wage and property taxes, new
competition will enter the market later this year in Maryland, and
in Pennsylvania in the next couple of years.  This means our need
to reinvest in our hotel and other amenities, as well as our
ability to market and promote, become more important."

"To that end, we expect to see legislation introduced in the State
Senate shortly to once again attempt to restructure the
distribution of gaming revenues between the State and Delaware's
three casinos.  It would seek to implement several recommendations
from last year's Lottery and Gaming Study Commission relative to
revenue sharing, license fees and incentives.  Changes would be
phased in over the course of the next four years in an effort to
minimize any perceived negative impact on the State's General Fund.
We believe that without making these changes, the State will
experience a significant long-term decline in contributions to the
General Fund from its video lottery operations."

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

                       http://is.gd/ZqrDxf

                       About Dover Downs

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

KPMG LLP, in Philadelphia, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company's credit facility
expires on Sept. 30, 2015, and at present no agreement has been
reached to refinance the debt, which raises substantial doubt about
the Company's ability to continue as a going concern.


EAST RIDGE RETIREMENT: Fitch Affirms 'BB' Rating on Revs Bonds
--------------------------------------------------------------
Fitch Ratings has affirmed the 'BB' rating on the following Alachua
County Health Facilities Authority, FL bonds issued on behalf of
East Ridge Retirement Village (ERRV):

-- $68.2 million health facilities revenue bonds, series 2014.

The Rating Outlook is Stable.

SECURITY

The bonds are secured by a pledge of gross revenues and receivables
of the obligated group (OG), a first mortgage lien on all current
and future property of the OG, and a fully-funded debt service
reserve.

KEY RATING DRIVERS

PROJECT COMPLETED; STABILIZATION UNDERWAY: The $53 million total
capital project was completed in 2015, within budget and slightly
behind schedule. ERRV took occupancy of the new assisted living
units (ALUs), memory support units (MSUs) and skilled nursing
facility (SNF) in December 2015. Project stabilization is still
expected by May 2017, when the units reach 93% occupancy.

ADEQUATE CASH FLOW: Though slightly weaker in 2014 with 23 sales
and $2.7 million in net entrance fees, ERRV generated an improved
28 sales and approximately $4 million in net entrance fees through
Nov. 30, 2015. Further, its operating ratio remains healthy at
92.7%, indicative of solid expense controls. ERRV is expected to
maintain net entrance fee levels and existing occupancy levels,
producing adequate maximum annual debt service (MADS) coverage near
1.0x through stabilization.

GOOD ILU OCCUPANCY: Despite heavier turnover than prior years,
solid sales and marketing helped maintain ERRVs ILU occupancy near
80% in 2014 and through November 2015. With a total $4 million in
net entrance fees through November, ERRV remains in line with
budget expectations.

ELEVATED DEBT LEVEL: Overall, ERRV's pro forma leverage metrics
reflect a sizeable debt burden against its current financial
profile, as indicated by 1.1x coverage of MADS by turnover entrance
fees and MADS equal to 25.3% of 2015 revenues.

RATING SENSITIVITIES

PROJECT STABILIZATION: The rating remains contingent upon East
Ridge Retirement Village's ability to attain sufficient fill of its
new units, reaching stabilized occupancy by mid-2017. Fitch
believes the risk on the fill up of the units is mitigated by the
strong demand for skilled nursing services and the experience of
sponsor, manager and developer in successfully managing campus
repositioning projects.

FUTURE CAPITAL PLANS: While outside the 12-24 month rating review
period, East Ridge Retirement Village is contemplating its second
campus expansion phase which would likely include an independent
living unit (ILU) expansion with possible debt financing. Fitch
anticipates reviewing these plans as they are formed and approved,
and will take rating action as necessary.

CREDIT PROFILE

ERRV is a Type A lifecare continuing care retirement community
(CCRC) located on 76 acres in the town of Cutler Bay, Florida,
approximately 20 miles south of Miami. The community currently
includes 221 Independent Living Units (ILUs) 90 Assisted Living
Units (up from 57 in 2014) 31 memory support units (up from 0 in
2014) and 74 Skilled Nursing Facility units (up from 60 in 2014).
ERRV reported total revenues of $20.4 million in fiscal 2014 (year
ended Dec. 31).

PROJECT IS PROGRESSING
ERRV's $53 million expansion of its assisted living, memory
support, and health care units opened nearly on time in December
2015. With a net of 78 new units, ERRV expects to achieve
stabilized occupancy by mid-2017 on schedule. Through Nov. 30, 2015
ERRV reported 86.7% ALU and 86.5% SNF occupancy, and expects to
meet or exceed its first occupancy covenant test at March 31,
2016.

STEADY PROFITABILITY EXPECTED
Despite elevated turnover in 2014 and 2015, ERRV has maintained
sufficient ILU sales and occupancy to generate adequate operating
cash flow and coverage metrics. In addition, marketing of the newly
opened ALU, MSU and SNF units will escalate in the coming months
and are expected to support ongoing revenue growth and improving
occupancy in 2016. In addition, ongoing ILU renovations should
preserve healthy sales and occupancy in 2016 and 2017. Limited
competition coupled with the appeal of larger units is expected to
preserve and grow occupancy over the near to medium term.

DEBT PROFILE

ERRV remains highly leveraged, as indicated by marginal coverage of
MADS as well as a high 11.9x debt to net available at Nov. 30,
2015. Still, ERRV's first debt service coverage covenant test will
occur in the earliest of a) 2017 after stabilized occupancy, or b)
in 2019.

ERRV has $68.2 million in series 2014 fixed-rate term bonds
outstanding, with maturity in 2049. Debt service is not level, with
25 months of capitalized interest and amortization through 2019.
MADS is equal to $5.1 million, and debt service is level from 2020
through maturity. ERRV has no swaps.

DISCLOSURE

ERRV covenants to provide annual disclosure within 150 days of
fiscal year end and quarterly disclosure within 45 days of each
quarter end. Disclosure will include balance sheet, statement of
revenues/expenses, statement of cash flows, calculation of days of
cash on hand, debt service coverage, and occupancy. Disclosure is
made through the Municipal Securities Rulemaking Board's EMMA
system, and has been timely and thorough.



ELBIT IMAGING: Plaza Centers Appoints Acting CEO and CFO
--------------------------------------------------------
Elbit Imaging Ltd. announced that Plaza Centers N.V., an indirect
subsidiary of the Company, has appointed Dori Keren and Yitshak
(Izzie) Elias to the roles of acting chief executive officer and
chief financial officer, respectively.

                        About Elbit Imaging

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

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

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

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


ELITE PHARMACEUTICALS: FDA Approves Waiver of NDA Filing Fee
------------------------------------------------------------
The United States Food and Drug Administration granted Elite
Pharmaceuticals, Inc. a waiver of the application fee required for
the filing of a New Drug Application.  Under section 736(d)(1)(E)
of the Federal Food, Drug and Cosmetic Act the FDA may grant a
waiver of the $2,335,200 NDA application fee for the first human
drug application that a small business submits for review.

Elite will immediately submit a 505(b)(2) New Drug Application for
its lead opioid abuse-deterrent candidate ELI-200,
immediate-release Oxycodone Hydrochloride 5mg, 10mg, 15 mg, 20 mg
and 30mg capsules with sequestered Naltrexone Hydrochloride, for
the treatment of moderate to severe pain with the United States
Food and Drug Administration.  FDA notification regarding
acceptance of the submission for review is expected to take 6 to 12
weeks.

"Having the FDA waive the application fee is a huge benefit to
Elite.  We will file the ELI-200 submission immediately.  I look
forward to hearing from the FDA concerning a notification of the
acceptance for review in the coming weeks," said Nasrat Hakim,
president and chief executive officer of Elite.

                    About Elite Pharmaceuticals

Northvale, New Jersey-based Elite Pharmaceuticals, Inc., is a
specialty pharmaceutical company principally engaged in the
development and manufacture of oral, controlled-release products,
using proprietary technology and the development and manufacture
of generic pharmaceuticals.  The Company has one product,
Phentermine 37.5mg tablets, currently being sold commercially.

Elite Pharmaceuticals reported net income attributable to common
shareholders of $28.9 million on $5 million of total revenues for
the year ended March 31, 2015, compared to a net loss attributable
to common shareholders of $96.5 million on $4.6 million of total
revenues for the year ended March 31, 2014.

As of Sept. 30, 2015, the Company had $28.69 million in total
assets, $16.20 million in total liabilities, $32.85 million in
convertible preferred shares and a $20.36 million total
stockholders' deficit.


ELITE PHARMACEUTICALS: Nasrat Hakim Named Board Chairman
--------------------------------------------------------
Elite Pharmaceuticals, Inc. announced that Jerry Treppel has
resigned as the Company's Chairman and as a member of the Board of
Directors, effective Jan. 11, 2016, to pursue other opportunities.

The Board of Directors has appointed Nasrat Hakim, Elite's
president and CEO to serve as Chairman of the Board of Directors.

"I want to thank Jerry for his years of dedicated service and
contributions to the company, and I wish him all the best in his
future endeavors," said Mr. Hakim.

Mr. Treppel stated, "I am proud of the accomplishments of the
company during my time on the Board.  It has been my pleasure to
work with Elite's team and I am confident that the company is
well-positioned for the future as it continues to execute on its
strategy."

On Jan. 21, 2016, the Board amended the Aug. 1, 2013, employment
agreement between Elite and Mr. Hakim.  Pursuant to the amendment,
effective Jan. 1, 2016, and during the term of the Agreement, Mr.
Hakim's base annual salary will be $500,000, plus an annual bonus
equal to 100% of his base salary.  The base salary is payable in
shares of Elite Common Stock with the annual bonus payable in
accordance with Elite's regular payroll practices.

                      About Elite Pharmaceuticals

Northvale, New Jersey-based Elite Pharmaceuticals, Inc., is a
specialty pharmaceutical company principally engaged in the
development and manufacture of oral, controlled-release products,
using proprietary technology and the development and manufacture
of generic pharmaceuticals.  The Company has one product,
Phentermine 37.5mg tablets, currently being sold commercially.

Elite Pharmaceuticals reported net income attributable to common
shareholders of $28.9 million on $5 million of total revenues for
the year ended March 31, 2015, compared to a net loss attributable
to common shareholders of $96.5 million on $4.6 million of total
revenues for the year ended March 31, 2014.

As of Sept. 30, 2015, the Company had $28.69 million in total
assets, $16.20 million in total liabilities, $32.85 million in
convertible preferred shares and a $20.36 million total
stockholders' deficit.


EXTREME REACH: S&P Lowers CCR to 'B-', Outlook Negative
-------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
corporate credit rating on Extreme Reach Inc. to 'B-' from 'B'. The
rating outlook is negative.

At the same time, S&P lowered its issue-level ratings on the
company's first-lien term loan and revolving facility to 'B+' from
'BB-'.  The '1' recovery rating remains unchanged, indicating S&P's
expectation for very high recovery (90%-100%) of principal in the
event of a payment default.

S&P also lowered its issue-level rating on Extreme Reach's
second-lien term loan to 'CCC' from 'CCC+'.  The '6' recovery
rating remains unchanged, indicating S&P's expectation for
negligible recovery (0%-10%) of principal in the event of a payment
default.

"The downgrade reflects the risk that the company could violate its
leverage covenant by the first quarter of 2017," said Standard &
Poor's credit analyst Dylan Singh.  The company's bank facility has
onerous terms, specifically 10% mandatory debt amortization
payments (which total $39.2 million annually), and aggressive
leverage covenant step downs in 2016 and 2017 (4.5x as of Dec. 31,
2015, 4.25x as of June 30, 2016, 4x as of Sept. 30, 2016, and 3.75x
as of Dec. 31, 2016).  The bank facility will further step down to
3.5x as of March 31, 2017, and then 3.25x as of June 30, 2017).
S&P do not believe the company will generate enough free cash flow
to make the amortization payments, and it will therefore have to
draw on its revolving credit facility to make those payments.  S&P
believes that doing so would likely prevent the company from
reducing leverage in advance of the step downs, resulting in a
potential covenant violation.  The company could violate the
covenants by the first quarter of 2017 if it does not receive
covenant relief in the form of an amendment to its bank facility to
relax the covenant step downs and mandatory amortization, get an
equity infusion from its investors, or significantly outperforms
S&P's base-case scenario.

The negative rating outlook reflects the risk that Extreme Reach
could violate its covenants by the first quarter of 2017 if it does
not amend its bank facility to relax the leverage covenant and
mandatory amortization payments, does not get an equity infusion
from its investors, or fails to significantly outperform our
base-case scenario.

S&P could lower its corporate credit rating on Extreme Reach if S&P
believes that the company will violate its covenants during the
next 12 months.

S&P could revise the outlook to stable if the company is able to
get debt relief through an amendment to its credit agreement that
relaxes the leverage covenant step downs and mandatory debt
amortization payments, if it gets an equity infusion from its
investors, or if it is able to outperform S&P's expectations such
that a covenant violation is no longer likely.



FINGER LAKES: Case Summary & 7 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: Finger Lakes Capital Partners, LLC
        168a Irving Avenue
        Port Chester, NY 10573

Case No.: 16-22112

Chapter 11 Petition Date: January 29, 2016

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Judge: Hon. Robert D. Drain

Debtor's Counsel: Dawn Kirby Arnold, Esq.
                  DELBELLO DONNELLAN WEINGARTEN WISE & WIEDERKEHR,
                  LLP
                  One North Lexington Avenue
                  White Plains, NY 10601
                  Tel: (914) 681-0200
                  Fax: 914-681-0288
                  Email: dkirby@ddw-law.com

                    - and -

                  Jonathan S. Pasternak, Esq.
                  DELBELLO DONNELLAN WEINGARTEN WISE & WIEDERKEHR,
                  LLP
                  One North Lexington Avenue
                  White Plains, NY 10601
                  Tel: (914) 681-0200
                  Fax: (914) 684-0288
                  Email: jpasternak@ddw-law.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gregory Shalov, managing member.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/nysb16-22112.pdf


GENIUS BRANDS: Bard Associates Holds 12.4% Stake as of Dec. 31
--------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Bard Associates, Inc. disclosed that as of Dec. 31,
2015, it beneficially owns 1,900,000 shares of common stock of
Genius Brands International Inc. representing 12.4 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/ilinek

                        About Genius Brands

Beverly Hills, Calif.-based Genius Brands International, Inc.,
creates and distributes music-based products which it believes are
entertaining, educational and beneficial to the well-being of
infants and young children under its brands, including Baby Genius
and Little Genius.

Genius Brands reported a net loss of $3.72 million in 2014, a net
loss of $7.21 million in 2013, a net loss of $2.06 million in
2012 and a net loss of $1.37 million in 2011.

As of Sept. 30, 2015, the Company had $16.0 million in total
assets, $4.67 million in total liabilities, and $11.3 million in
total equity.


GEOMET INC: Suspending Filing of Reports with SEC
-------------------------------------------------
GeoMet, Inc., filed with the Securities and Exchange Commission a
Form 15 to terminate the registration of its common stock, par
value $0.001 per share and Series A Convertible Redeemable
Preferred Stock, par value $0.001 per share pursuant to Section
12(g) of the Securities Exchange Act of 1934.  As a result of the
Form 15 filing, the Company is not anymore obligated to file
periodic reports with the SEC.

                       About Geomet Inc.

Houston, Texas-based GeoMet, Inc., is an independent energy
company primarily engaged in the exploration for and development
and production of natural gas from coal seams (coalbed methane)
and non-conventional shallow gas.  Its principal operations and
producing properties are located in the Cahaba and Black Warrior
Basins in Alabama and the central Appalachian Basin in Virginia
and West Virginia.  It also owns additional coalbed methane and
oil and gas development rights, principally in Alabama, Virginia,
West Virginia, and British Columbia.  As of March 31, 2012, it
owns a total of 192,000 net acres of coalbed methane and oil and
gas development rights.

As reported by the TCR on Feb. 20, 2015, GeoMet said it has no
operations and minimal assets, which raises substantial doubt about
its ability to return any additional value to its stockholders.
The Company added it may file a plan of dissolution if it cannot
consummate a corporate transaction/merger prior to the third
quarter of 2015.

As of Sept. 30, 2015, the Company had $18.82 million in total
assets, $138,000 in total liabilities, $52.81 million in series A
convertible redeemable preferred stock and a $34.12 million total
stockholders' deficit.


GEORGETOWN MOBILE: Court Approves ARA USA as Exclusive Broker
-------------------------------------------------------------
Georgetown Mobile Estates, LLC sought and obtained permission from
the U.S. Bankruptcy Court for the Eastern District of Kentucky to
employ ARA USA as exclusive broker.

For its services, ARA will receive a fixed percentage -- 1.5% -- of
the sale proceeds plus out of pocket expenses not to exceed
$2,500.

Debra Corson, vice chairman of ARA, 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.

ARA can be reached at:

       Debra Corson
       ARA USA
       230 West Monroe, Suite 325
       Chicago, IL 60606
       Tel: (312) 899-1094
       Fax: (312) 899-0150
       E-mail: dcorson@aranewmark.com

                  About Georgetown Mobile Estates

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

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

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

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

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

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

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


GIBSON BRANDS: S&P Lowers CCR to 'CCC+', Outlook Negative
---------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Nashville, Tenn.-based Gibson Brands Inc. to
'CCC+' from 'B-'.  The outlook is negative.

S&P also lowered its issue-level rating on Gibson's $375 million
senior secured notes due 2018 to 'CCC+' from 'B-'.  The '4'
recovery rating is unchanged and indicates S&P's expectation for
average (30% to 50%; upper half of range) recovery in the event of
payment default.

"The downgrade reflects our concern that the increase in financial
obligations following the agreement made with Philips N.V. for
overdue receivables will further pressure the company's slowly
improving cash flow outlook," said Standard & Poor's credit analyst
Stephanie Harter.

Philips has agreed to forebear the receivables provided that a
payment of $36 million is made in calendar year 2016 and $62
million in 2017.  Initially S&P had expected slowly improving
operating cash flow in late third quarter (end December) and early
in the fourth quarter, as holiday sales would permit the company to
meet its interest expense obligations and build cash to start
repaying future debt obligations.  However, the agreement with
Philips further weakens credit metrics.  S&P now estimates Gibson's
adjusted leverage will remain above 8x at fiscal year-end March 31,
2016 (adjusted for the acquisition of a controlling interest of
TEAC Corp., which is fully consolidated in S&P's credit metrics),
with a much more burdensome serving requirements that will require
the company to continue to strengthen operating performance to meet
these obligations.

The negative outlook reflects the risk that Gibson may not be able
to meet its near-term financial commitments, which are now
materially higher following the restructuring of its accounts
payable to Philips.

S&P could lower the ratings if the company does not materially
improve its free cash flow generation to meet its $36 million
financial obligations in fiscal 2017 or its subsequent $62 million
obligation in the following fiscal year.

S&P could consider an upgrade if Gibson improves and sustains
operating performance, resulting in better profitability and credit
measures -- including meeting its obligations under the Philips
restructuring while maintaining interest coverage of more than 2x
and reducing leverage closer to 6x -- while maintaining adequate
liquidity.  S&P estimates this could occur if the company builds on
the anticipated turnaround in the next two quarters well into
fiscal 2017.



GK HOLDINGS: S&P Lowers CCR to 'B' on Weak Credit Metrics
---------------------------------------------------------
Standard & Poor's Ratings Services said that it lowered its
corporate credit rating on U.S.-based information technology (IT)
and business skills learning solutions provider GK Holdings Inc.
(Global Knowledge) to 'B' from 'B+'.  The rating outlook is stable.


At the same time, S&P lowered its issue-level rating on the
company's first-lien debt to 'B' from 'B+'.  The '3' recovery
rating remains unchanged, indicating S&P's expectation for
meaningful recovery (50%-70%; upper half of the range) of principal
in the event of a payment default.

S&P also lowered its issue-level rating on Global Knowledge's
second-lien term loan to 'B-' from 'B'.  The '5' recovery rating
remains unchanged, indicating S&P's expectation for modest recovery
(10%-30%; lower half of the range) of principal in the event of a
payment default.

"Global Knowledge has underperformed our expectations for revenue
growth, EBITDA margins, and adjusted debt leverage since its debt
issuance in January 2015," said Standard & Poor's credit analyst
Scott Zari.  "We had expected that revenue would grow at a mid- to
high-single-digit percentage rate, adjusted EBITDA margins would
improve to the mid- to high-teens percent area, and adjusted debt
leverage would decrease to the mid-4x area by the end of 2015."
Instead, revenue decreased at a mid-single-digit percentage rate,
adjusted EBITDA margins contracted, and adjusted debt leverage was
6.6x as of the 12 months ended Sept. 30, 2015.

The revenue underperformance was mainly due to foreign exchange
headwinds and the company's inability to drive organic growth from
existing vendors.  Global Knowledge also restructured and invested
in its sales force, which led to a disruption in sales because new
and repurposed sales representatives will take time to ramp-up to
full production.  EBITDA margins were negatively affected by higher
selling, general, and administrative (SG&A) expenses due to the
sales force investment and increased marketing spend, as well as
lower fixed-cost leverage.

The stable rating outlook reflects S&P's expectations that Global
Knowledge will recover from the negative trends that affected its
operating performance in fiscal 2015, and that the company will
organically grow revenue and EBITDA, generate positive
discretionary cash flow, and maintain adequate liquidity over the
next 12 months.

S&P could lower its corporate credit rating on Global Knowledge if
the company fails to generate organic revenue and EBITDA growth,
leading to minimal or negative discretionary cash flow, liquidity
issues, or EBITDA cushions of compliance with its covenants of less
than 15%.  This could occur if increased competitive pressures lead
to market share erosion and lower EBITDA margins. S&P could also
lower the rating if the company's adjusted debt leverage rises
above 7x.

S&P views an upgrade as unlikely over the next 12 months.
Nevertheless, an upgrade could occur if the company demonstrates
significant and sustainable organic revenue growth and if it also
shows an ability to improve its EBITDA margins, broaden its scale
of operations, and commit to a less aggressive financial policy.
Additionally, an upgrade would require S&P's expectation that
adjusted debt leverage will decrease and remain significantly below
5x.



GRAHAM GULF: Objects to Request for Payment of Carl Marks' Fees
---------------------------------------------------------------
Graham Gulf, Inc., the United States Bankruptcy Administrator for
the Southern District of Alabama and the Official Committee of
Unsecured Creditors, object to the request for payment of
professionals fees of Carl Marks Advisory Group LLC, submitted by
Wells Fargo Bank, N.A.

Pursuant to the Cash Collateral Order, Wells Fargo was entitled to
payment of all fees, costs, expenses and other charges payable
under the Wells' Pre-Petition Loan Agreements on the condition that
Wells Fargo submit copies of invoices for those charges.  Wells
Fargo submitted an invoice dated December 17, 2015, for fees and
expenses totaling $155,051 incurred by Marks for the period of
September 18, 2015, through October 31, 2015.

The Debtors, the Bankruptcy Administrator and the Committee argue
that the hourly rates charged by Marks are not reasonable because
it is simply imprudent to require the Debtor's estate to bear the
financial burden of paying an uncapped amount to Marks at hourly
rates ranging from $350-$800 per hour, amounting to $155,051, which
exceeded and essentially doubling compared to those fees and
expenses charged by Wells' legal counsel.

The Objectors question the necessity of the Marks' fees when Wells
has highly qualified team of legal professionals to assist Wells in
the Case, and Wells itself surely has qualified financial analysts,
loan officers, and others in-house to deal with the issues in the
case.  In addition, the Objectors point out that there is not a
need for the high level of expertise associated with a New
York-based team of financial advisors when the Debtor's ongoing
operations are trending downward and operating on a negative
cash-flow basis.

The Objectors also complain that the recent agreement between the
parties has extended the cash collateral issues until January 25,
2016, when there may not be sufficient cash flow to operate by the
end of January based on the parties' representations to the Court
at the last hearing, at which time the Amended Consent Order was
entered, which appears that the Debtor's cash is being depleted.
According to the Objectors, with the payment of the amount
described in the Marks Fee Request, the Debtor would be left with
approximately $16,500, a cash position, which is a violation of the
minimum liquidity requirements found in the Cash Collateral Order.
The Objectors added that the Supplemental Budget contemplates a
closing cash balance on January 29, 2016, of $171,517 which does
not include adequate amounts for "Lender Professional Fees" to
require immediate payment of the amounts sought by Marks.

The Committee asks the Court to limit and/or modify the Debtor's
payment obligation under the Collateral Order to reflect a
reduction in hourly rates to an amount commensurate with customary
financial advisory fees for respected professionals in similar
Chapter 11 cases and to deny the reimbursement request with respect
to the Subject Time Entries and request for immediate payment.

The Debtor ask for an evidentiary hearing to determine the
reasonableness, value and/or necessity of each fee, cost and/or
expense requested by Carl Marks.  The Debtor also questions the
reasonableness and necessity of the fees, costs and expenses sought
by Paul Hastings LLP, as previous counsel for Wells Fargo,
particularly to the submitted invoice that has no meaningful detail
or particularity and also because the value added to the case by
Paul Hastings's has not been established.  The Debtor seek for an
evidentiary hearing to determine the reasonableness, value and/or
necessity of each fee, cost and/or expense requested once the Paul
Hastings fee application is corrected.

Graham Gulf, Inc. is represented by:

     Jeffery J. Hartley, Esq.
     Christopher T. Conte, Esq.
     HELMSING, LEACH, HERLONG,
     NEWMAN & ROUSE, P.C.
     Post Office Box 2767
     Mobile, AL 36652
     Telephone: (251) 432-5521
     Facsimile: (251) 432-0633
     Email: jjh@helmsinglaw.com
            ctc@helmsinglaw.com

Bankruptcy Administrator is represented by:

     W. Alexander Gray Jr., Attorney
     Bankruptcy Administrator
     113 St. Joseph St. Box 16
     Mobile, Alabama 36602
     Telephone: (251) 441-5434
     Email: alec_gray@alsba.uscourts.gov

Proposed Counsel for The Official Committee of Unsecured
Creditors:

     Stewart F. Peck, Esq.
     Christopher T. Caplinger, Esq.
     Benjamin W. Kadden, Esq.
     LUGENBUHL, WHEATON, PECK, RANKIN & HUBBARD
     601 Poydras Street, Suite 2775
     New Orleans, LA 70130
     Telephone: (504) 568-1990
     Facsimile: (504) 310-9195
     Email: speck@lawla.com
            ccaplinger@lawla.com,
            bkadden@lawla.com

        About Graham Gulf

Founded in 1996, Graham Gulf, Inc. operates 11 fast supply vessels
designed specifically for providing a more efficient and
cost-effective support for field production operations and remote
drilling location services.

Graham Gulf filed Chapter 11 bankruptcy petition (Bankr. S.D. Ala.
Case No. 15-03065) on Sept. 18, 2015.  The petition was signed by
Janson Graham, the president and owner.  The Debtor estimated
assets and liabilities in the range of $10 million to $50 million.

Helmsing, Leach, Herlong, Newman & Rouse PC serves as the Debtor's
counsel.

Six creditors were appointed to Graham Gulf's official committee of
unsecured creditors.  The creditors are Superior Shipyard &
Fabrication Inc., Thrustmaster of Texas Inc., American Supply LLC,
Safety Controls Inc., Force Power Systems LLC and United Power
Systems LLC.


GREENBRIER WHALEY: Case Summary & 3 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Greenbrier Whaley Group 2, LLC
        3909 Snyder Road
        Kodak, TN 37764

Case No.: 16-50104

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 28, 2016

Court: United States Bankruptcy Court
       Eastern District of Tennessee (Greeneville)

Judge: Hon. Marcia Phillips Parsons

Debtor's Counsel: Dean B. Farmer, Esq.
                  HODGES, DOUGHTY & CARSON PLLC
                  P. O. Box 869
                  Knoxville, TN 37901
                  Tel: 865-292-2307
                  Fax: 865-292-2252
                  Email: dfarmer@hdclaw.com

Total Assets: $2.11 million

Total Liabilities: $3.70 million

The petition was signed by Kenneth P. Whaley, sole shareholder.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/tneb16-50104.pdf


HAGGEN HOLDINGS: Court Approves Stroock & Stroock as Attorneys
--------------------------------------------------------------
Haggen Holdings, LLC, et al., sought and obtained permission from
the Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware to employ Stroock & Stroock & Lavan LLP as attorneys,
nunc pro tunc to the September 8, 2015 petition date.

The Debtors require Stroock & Stroock to:

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

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

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

   (d) take necessary actions to protect and preserve the Debtors'

       estates, including prosecuting actions on the Debtors'
       behalf, defending actions commenced against the Debtors and

       representing the Debtors' interests in negotiations
       concerning litigation in which the Debtors are involved,
       including objections to claims filed against the Debtors'
       estates;

   (e) prepare, on behalf of the Debtors, pleadings, including
       motions, applications, answers, orders, reports and papers
       necessary or otherwise beneficial to the administration of
       the Debtors' estates;

   (f) advise the Debtors in connection with obtaining post-
       petition financing;

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

   (h) consult with the Debtors regarding tax matters;

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

   (j) perform all other necessary or otherwise beneficial legal
       services and providing legal advice to the Debtors in these

       Chapter 11 cases.

The current hourly rates for Stroock & Stroock's bankruptcy and
other professionals and para-professionals who are expected to
render services to the Debtors in these Chapter 11 Cases
range from $225 per hour to $1,175 per hour.

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

Stroock & Stroock received a retainer in the amount of $650,000.

Kristopher M. Hansen, partner of Stroock & Stroock, 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.

As previously reported in the Troubled Company Reporter, a U.S.
trustee overseeing the bankruptcy of grocery giant Haggen told a
Delaware court on Oct. 9, 2015, that Stroock & Stroock & Lavan LLP
should not serve as counsel for the Debtor, because JPMorgan Chase
Bank, a participant in Haggen's credit facility, is a major client
of the law firm.

Andrew R. Vara urged the federal bankruptcy court to prevent
Stroock from representing Haggen Holdings LLC, saying the firm has
failed to demonstrate that it is disinterested in the outcome of
the case.

Stroock & Stroock can be reached at:

       Frank A. Merola, Esq.
       STROOCK & STROOCK & LAVAN LLP
       180 Maiden Lane
       New York, NY 10038
       Tel: (212) 806-5400
       Fax: (212) 806-6006

                       About Haggen Holdings

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

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

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

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

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

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

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


HAGGEN HOLDINGS: Court Okays Alvarez & Marsal as Financial Advisor
------------------------------------------------------------------
Haggen Holdings, LLC and its debtor-affiliates sought and obtained
permission from the Hon. Kevin Gross of the U.S. Bankruptcy Court
for the District of Delaware to employ Alvarez & Marsal North
America, LLC as financial advisor, nunc pro tunc to the September
8, 2015 petition date.

The Debtors require Alvarez & Marsal to:

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

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

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

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

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

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

   (g) assist in the preparation of information and analysis
       necessary for the confirmation of a chapter 11 plan,
       including information contained in the disclosure
       statement;

   (h) render other general business consulting or such other
       assistance as Debtors' management or counsel may deem
       necessary consistent with the role of a financial advisor
       to the extent that it would not be duplicative of services
       provided by other professionals in these chapter 11 cases.

Alvarez & Marsal will be paid at these hourly rates:

       Managing Director            $750-$950
       Director                     $550-$750
       Associate                    $400-$550
       Analyst                      $350-$400

Alvarez & Marsal will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Alvarez & Marsal received a retainer of $200,000 in preparing for
and conducting the filing of these chapter 11 cases.

Jonathan Goulding, managing director with Alvarez & Marsal, 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.

Alvarez & Marsal can be reached at:

       Jonathan Goulding
       ALVAREZ & MARSAL NORTH AMERICA, LLC
       2029 Century Park East, Ste 2060
       Los Angeles, CA 90067
       Tel: (310) 975-2600
       Fax: (310) 975-2601
       E-mail: jgoulding@alvarezandmarsal.com

                       About Haggen Holdings

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

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

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

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

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

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

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



HAGGEN HOLDINGS: Has Until March 7, 2016 to File Ch. 11 Plan
------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware extended until March 7, 2016, the period by which Haggen
Holdings, LLC, et al., have exclusive right to file a plan and
until May 6, 2016, the period by which the Debtors have exclusive
right to solicit acceptances of that plan.

The Debtors originally asked for an extension of the exclusive plan
filing period through and including April 5, 2016, and the
exclusive solicitation period through and including June 6, 2016.

The Debtors said they have been operating under the protections of
chapter 11 for just under four months.  During this short period of
time, the Debtors have worked diligently to ensure the smooth
transition of their operations into Chapter 11 and to maximize the
value of the Debtors' estates for the benefit of all stakeholders.
To that end, the Debtors have, among other things: (i) conducted
going out of business sales with respect to their non-core stores;
(ii) marketed and sold, on an expedited basis, certain
pharmaceutical assets; (iii) after conducting a robust auction and
sale process, and resolving numerous objections related thereto and
litigating those that were not resolved, obtained approval of
numerous sales of certain of their non-core stores; (iv) prepared
and filed their Schedules of Assets and Liabilities and Statements
of Financial Affairs and established a claims bar date; (v)
responded to various creditor inquiries and demands; (vi) retained
professionals; (vii) worked feverishly to stabilize the Debtors'
vendor base; (viii) evaluated and resolved requests for additional
adequate assurance of future payment from certain utility
providers; (ix) evaluated certain of the Debtors' executory
contracts and unexpired leases and rejected certain of those
agreements; (x) successfully prosecuted (over an objection from the
United Food and Commercial Workers International Union) their
motion for entry of an order approving their key employee retention
plan; (xi) settled, in a timely and efficient manner, a number of
issues that threatened to jeopardize the Debtors' ongoing business
operations and Chapter 11 efforts; (xii) obtained approval of the
bidding procedures for the sale of certain core stores after
resolving numerous objections related thereto; (xiii) resolved
various objections to entry of a final order authorizing
the Debtors to obtain postpetition financing and use cash
collateral; and (xiv) handled the various other tasks related to
the administration of the Debtors' bankruptcy estates and these
Chapter 11 cases.

Finally, since their appointment, the Debtors have worked
diligently to get the Committee up to speed on these Chapter 11
cases.

Ashley E. Jacobs, Esq., at Young Conaway Stargatt & Taylor, LLP, in
Wilmington, Delaware, told the Court that accomplishing these
tasks within a mere four months has been a labor-intensive process,
fully occupying the Debtors' representatives and professionals.  In
light of these circumstances, including without limitation the
on-going marketing and sale process with respect to the core
stores, the Debtors said the requested extensions are both
appropriate and necessary to afford the Debtors with sufficient
time to adequately prepare a viable Chapter 11 plan and related
disclosure statement, Ms. Jacobs added.

Subsequent to the filing of the Extension Motion, the Debtors
received informal comments from the Official Committee of Unsecured
Creditors.  The Debtors have worked with the Committee to address
its concerns and have resolved the Committee's issues through
changes to the proposed form of order.  The changes shortened the
allowed extension of the exclusive plan filing period to March 7
and the exclusive solicitation period to May 6.

The Debtors are represented by:

         Matthew B. Lunn, Esq.
         Robert F. Poppiti, Jr., Esq.
         Ian J. Bambrick, Esq.
         Ashley E. Jacobs, Esq.
         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, DE 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1256

            -- and --

         Frank A. Merola, Esq.
         Sayan Bhattacharyya, Esq.
         Elizabeth Taveras, Esq.
         STROOCK & STROOCK & LAVAN LLP
         180 Maiden Lane
         New York, NY 10038
         Tel: (212) 806-5400
         Fax: (212) 806-6006

                      About Haggen Holdings

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

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

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

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

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

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

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


HAGGEN HOLDINGS: Kurtzmann Carson Okayed as Admin. Advisor
----------------------------------------------------------
Haggen Holdings, LLC and its debtor-affiliates sought and obtained
permission from the Hon. Kevin Gross of the U.S. Bankruptcy Court
for the District of Delaware to employ Kurtzman Carson Consultants
LLC as administrative advisor, nunc pro tunc to the September 8,
2015 petition date.

The Debtors require Kurtzman Carson to:

   (a) assist with, among other things, solicitation, balloting,
       and tabulation and calculation of votes, as well as
       preparing any appropriate reports, as required in
       furtherance of confirmation of chapter 11 plans in these
       cases;

   (b) generate an official ballot certification and testifying,
       if necessary, in support of the ballot tabulation results;

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

   (d) provide a confidential data room;

   (e) manage any distributions pursuant to a confirmed chapter 11

       plan; and

   (f) provide such other claims processing, noticing,
       solicitation, balloting, and administrative services
       described in the Services Agreement, but not included in
       the Section 156(c) Application, as may be requested from
       time to time by the Debtors.

Kurtzman Carson will be paid at these hourly rates:

       Executive Vice President             Waived
       Director/Senior Managing Consultant  $170
       Consultant/Senior Consultant         $70-$160
       Project Specialist                   $50-$100
       Technology/Programming Consultant    $35-$70
       Clerical                             $25-$50

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

Prior to the Petition Date, the Debtors provided KCC a retainer in
the amount of $40,000.

Evan Gershbein, senior vice president of corporate restructuring
services at Kurtzman Carson, assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtors and their estates.

Kurtzman Carson can be reached at:

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

                       About Haggen Holdings

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

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

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

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

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

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

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



HAGGEN HOLDINGS: May Hire Akerman LLP as Corporate Counsel
----------------------------------------------------------
Haggen Holdings, LLC, et al., sought and obtained permission from
the Hon. Kevin Gross of the U.S. Bankruptcy Court for the District
of Delaware to employ Akerman LLP as special corporate counsel to
the Debtors, nunc pro tunc to the September 8, 2015 petition date.

As special corporate counsel, Akerman will limit its engagement to
transactions relating to the disposition of the Debtors' assets.

Akerman will be paid at these hourly rates:

       Carl Roston                  $695
       Nathan Balint                $560
       Jed Freeland                 $410
       Susanne Zabloudil            $590
       Jane Hinton                  $495
       William Arnhols              $690
       Michael Goldberg             $690
       Joan Levit                   $480
       Partners & Of Counsel        $400-$790
       Associates                   $250-$410
       Paraprofessionals            $95-$250

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

Carl Roston, partner of Akerman, 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.

Akerman can be reached at:

       Carl Roston, Esq.
       AKERMAN LLP
       One Southeast Third Ave., Ste 2500
       Miami, FL 33131-1714
       Tel: (305) 374-5600
       Fax: (305) 374-5095
       E-mail: carl.roston@akerman.com

                       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 INC: S&P Raises CCR to 'BB-', Outlook Stable
-------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on South Jordan, Utah-based Headwaters Inc. to 'BB-'
from 'B+'.  The outlook is stable.

At the same time, S&P raised its issue-level ratings on Headwaters'
$425 million senior secured term loan to 'BB' from 'BB-'.  The
recovery rating on the loan remains unchanged at '2', indicating
S&P's expectation for substantial (70%-90%; higher end of the
range) recovery in the event of payment default.

In addition, S&P raised its issue-level ratings on Headwaters' $150
million senior unsecured notes to 'B' from 'B-'.  The recovery
rating on the notes remains unchanged at '6', indicating S&P's
expectation for negligible (0%-10%) recovery in the event of
payment default.

"The outlook is stable, reflecting our expectations that the
improvement in housing starts and nonresidential construction will
result in continued growth in sales and earnings for Headwaters,"
said Standard & Poor's credit analyst Kimberly Garen.  "We expect
credit measures to improve during the year but to remain in line
with our assessment of its significant financial risk profile, with
year-end 2016 leverage of about 3x and FFO to debt of 25%."

S&P believes that a downgrade is unlikely within the next 12 months
based on its favorable view of industry fundamentals. However, S&P
could lower the ratings if the improvement in residential
construction activity or fly ash demand is less than expected, such
that leverage increases more than 5x, causing S&P to revise its
assessment of financial risk to highly leveraged.

S&P could raise the rating if 2016 sales and earnings growth
exceeded its expectations such that debt to EBITDA leverage was
sustained below 3x and FFO to debt was maintained at more than 30%,
commensurate with an intermediate financial risk profile.  For this
to occur, S&P estimates sales growth would need to approach 10% and
gross margins would need to exceed 35%.



HII TECHNOLOGIES: AES Creditors Seek Appointment of Ch. 11 Trustee
------------------------------------------------------------------
The Ad Hoc Committee of Unsecured Creditors of Debtor Apache Energy
Services, LLC, ask the U.S. Bankruptcy Court for the Southern
District of Texas to appoint a Chapter 11 trustee for AES.

According to the AES Ad Hoc Committee, it has long been held that
conflict of interest and acrimony between a debtor and its
creditors mandate the appointment of a trustee.  The Ad Hoc
Committee asserts that a Chapter 11 trustee is needed to protect
the independent decision making power of AES and to avoid an
obvious and incurable conflict of interest that exists between AES
and the other jointly administered debtors since at the present
time, all managerial and financial decisions of AES and its other
four related companies are being made by Loretta Cross, the
court-appointed Chief Restructuring Officer.  The Ad Hoc Committee
points out that Miss Cross is the sole corporate officer of AES's
parent, HII Technologies, Inc., but is not an officer, director or
employee of AES.

Unlike HII and the other related entities, the goals of the
unsecured creditors of AES differ from those of the creditors of
HII, the Ad Hoc Committee tells the Court.  AES, the Committee
notes, was a viable operating company that can be reorganized and
put back into business to pay creditors through continued
operations, and for this reason, AES should be carved out from
HII's liquidation scheme, since it was and can be a viable entity
and can stand on its own, the Ad Hoc Committee asserts.

The Ad Hoc Committee further asserts that, although the $12 million
DIP loan proposed by HII and Heartland Bank will provide HII and
the other subsidiaries of HII with much needed capital, it will not
benefit AES, but will impair the ability of AES to reorganize.  To
obtain this loan, AES will have to grant Heartland Bank
post-petition super priority liens on all its post-petition assets,
even though AES will receive little, if any, of the post-petition
loan proceeds, the Ad Hoc Committee further tells the Court.  The
Ad Hoc Committee adds that at the outset of the case AES is being
forced to waive any and all claims it might have against Heartland
Bank on an expedited basis and with no meaningful opportunity for
review.

According to the Ad Hoc Committee, the schedules in this case were
signed, but their truth and veracity cannot be taken as true for
there are approximately $5 million in assets identified by HII as
assets of AES that have not been scheduled by AES, not including
the potential claim against Heartland, which also is not scheduled.
In viewing the actual assets of AES, Heartland's desire to include
AES in its post-petition financing becomes immediately apparent
considering that AES owns significant assets and Heartland wants
the benefit of the equity in those assets, regardless of how this
impacts AES or its unsecured creditors, the Ad Hoc Committee
alleges.

                         Debtors' Objection

The Debtors oppose the motion to appoint on the grounds of estoppel
and factual deficiencies.

The Debtors complain that the Ad Hoc Committee could have raised
any of their objections to the retention of the Debtors' CRO or
their counsel at the hearing when the Court considered and approved
such retentions after the Ad Hoc Committee had been adequately
notified.

For its failure to use the given opportunity, the Movant is now
estopped and cannot collaterally attack the Court's orders
approving the retention of the Debtors' CRO and counsel by its
Amended Motion, the Debtors argue.  The Debtors further argue that
the Movant is incorrect in stating that there is a conflict between
the respective Debtors who hold intercompany debts of $25 million,
which requires, according to the Movant, independent managerial,
legal, and financial decisions.  The underlying issues -- whether
the Debtors required and properly incurred the DIP Loan and whether
the Debtors’ CRO and counsel could ethically be engaged to
represent each of the Debtors -- have already been decided by the
Court in favor of the Debtors.  The Ad Hoc Committee's arguments to
the contrary are therefore barred by collateral estoppel, the
Debtors further argued.

              HII Creditors' Committee Opposes

The Official Committee of Unsecured Creditors of HII Technologies,
Inc., assert that inter-debtor claims or disputes do not create a
conflict of interest necessitating the appointment of a trustee
because inter-debtor claims are exceedingly common in bankruptcy
and separate estate fiduciaries is unnecessary in such situations.
In fact, an appointment of a trustee would be extraordinarily
destructive and unnecessarily costly and if a trustee or other
fiduciary were appointed for one of the Debtors, other creditor
groups would make similar demands, resulting in the 'balkanization
of decision making' for all the Debtors, causing inefficiency,
costs, error and delay, the Committee further assert.  Ironically,
however, the Committee surmised that were the Motion will be
granted and the Movant's scheme be effectuated, then a conflict
would arise since the "Ad Hoc Group" is hardly representative of
the creditors of AES for at least four of the five members of the
Ad Hoc Group are insiders, the Committee points out.

The Committee complains that the Movant's real goal is to
circumvent the Court's prior order approving the DIP loan for the
Movant once again is arguing, as it did at the hearing on the DIP
loan and has done repeatedly in its pleadings, that AES has a
viable chance to reorganize without providing any evidence for such
an assertion besides blanket assertions from counsel.  The Movant's
assertions continue to be unfounded for not only is the DIP loan
the DIP has been decided and approved, but it is substantially
consummated with funds being advanced pursuant to its terms on a
regular basis, the Committee adds.

HII Technologies, Inc. is represented by:

     Hugh M. Ray, III, Esq.
     Christopher D. Johnson, Esq.
     Benjamin W. Hugon, Esq.
     MCKOOL SMITH, P.C.
     600 Travis, Suite 7000
     Houston, Texas 77002
     Telephone: (713) 485-7300
     Facsimile: (713) 485-7344
     Email: hmray@mckoolsmith.com
            cjohnson@mckoolsmith.com
            bhugon@mckoolsmith.com

The Official Committee of Unsecured Creditors of HII Technologies,
Inc., et al. are represented by:

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

The Ad Hoc Committee of Unsecured Creditors of Apache Energy
Services, LLC is represented by:

     Leonard H. Simon, Esq.
     PENDERGRAFT & SIMON, L.L.P.
     The Riviana Building
     2777 Allen Parkway, Suite 800
     Houston, Texas 77019
     Direct Line: (713) 737-8207
     Direct Fax: (832) 202-2810
     Email: lsimon@pendergraftsimon.com

        -- and --

     Joan Kehlhof, Esq.
     WIST HOLLAND & KEHLHOF
     720 North Post Oak Road, Suite 610
     Houston, Texas 77024
     Telephone: (713) 686-5444
     Facsimile: (713) 686-0703
     Email: jkehlhof@whkllp.com E-mail

               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, 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: Wants to Hire Timothy H. Bellas as Counsel
-------------------------------------------------------------------
Hong Kong Entertainment (Overseas) Investment, Ltd., asks authority
from the U.S. Bankruptcy Court for the Northern Mariana Islands to
employ Timothy H. Bellas, Esq., as counsel.

Prior to the Petition Date, Mr. Bellas assisted the Debtor with the
filing of the case.  

Mr. Bellas will render these services to the Debtor:

   (a) advise and represent the Debtor with respect to all matters
and proceedings in the case, and prepare on behalf of the Debtor
necessary applications, motions, answers, orders, reports, and
other legal papers;

   (b) assist the Debtor in all bankruptcy issues which may arise
in the administration of the Debtor's affairs, including
representation at the first meeting of creditors, evaluation of
assets, negotiations with creditors, interest groups, and any
Official Committee of Unsecured Creditors, verification of claims,
and asset disposition; and

   (c) assist the Debtor with the preparation of a disclosure
statement and a plan of reorganization.

Mr. Bellas requested that he be allowed to submit his monthly
billing statements to the Debtor and U.S. Trustee and if there is
no objection that such billings be paid up to 75% of the amount of
such billed fees and 100% of costs.

In a declaration filed in support of the application, Mr. Bellas
said he was contacted by a Hong Kong based entity known as Gain
Millenia, Ltd., to provide a legal opinion about a contemplated
investment transaction and how that transaction would be affected
by local laws and in particular the Tinian Casino Gaming Control
Act.

His hourly rates range from $225 to $250 in other cases but he
agreed to a $275 rate per hour because the case has already
consumed a large number of his hours and will likely continue to
represent a large portion of his billable time in the near future.

                   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.

The Debtor, in an amended schedules, disclosed total assets of
$55,213,814 and total liabilities of $273,462,659.  In its original
schedules, the Debtor disclosed total assets of $55,204,880 and
total liabilities of $258,482,942.


HOVENSA LLC: Has Until March 14 to File Plan
--------------------------------------------
The District Court of the Virgin Islands Bankruptcy Division
extended Hovensa, L.L.C.'s exclusive period to file a Chapter 11
plan until March 14, 2016, and solicit acceptances for that Plan
until May 13.

As previously reported by The Troubled Company Reporter, citing
Bankruptcy Law360, reported that the Hess-linked oil refinery at
the center of a U.S. Virgin Islands bankruptcy tangle will maintain
control of its bankruptcy for a bit longer, a federal judge ruled
on Jan. 4, 2015, extending Hovensa LLC's exclusivity period to
March 14.

Hovensa filed for bankruptcy in September, citing poor economic
conditions, "intense competition," and approximately $1.3 billion
in losses between 2009 and 2011, according to first-day filings.
The St. Croix refinery, which processed crude oil from Venezuela
and other places, is dually owned by Hess Corp. and Petroleos de
Venezuela.

                          About Hovensa

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

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

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

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

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

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

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

                           *     *     *

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

The Debtor has filed a liquidating plan.


HUB INTERNATIONAL: S&P Affirms 'B' Counterparty Credit Rating
-------------------------------------------------------------
Standard & Poor's Ratings Services said that it affirmed its 'B'
long-term counterparty credit rating on HUB International Ltd.
(HUB).  S&P also affirmed all related issue-level and recovery
ratings on the company's debt.  The outlook is stable.  At the same
time, S&P assigned its 'CCC+' rating with a '6' recovery
rating--indicating expectations of negligible recovery (0%-10%) in
the event of a default--to the planned $300 million second-lien
senior secured notes due 2021.

"Our ratings continue to reflect HUB's fair business risk profile
and highly leveraged financial risk profile," said Standard &
Poor's credit analyst Joe Marinucci.  Although the proposed new
issuance results in weaker credit-protection measures (pro-forma
debt-to-EBITDA ratio of 8.2x according to S&P's calculations as of
Sept. 30, 2015), it believes HUB's sustained competitive position
and improving revenue, earnings, and cash-flow generating
capabilities will enable it to support an increased debt load and
de-lever modestly through next year.

The stable outlook on HUB reflects S&P's expectation that its
established presence and acquisition-supported growth strategy will
drive sustained earnings and cash-flow improvement, with organic
revenue growth in the mid-single digits and adjusted EBITDA margins
of more than 30%.  S&P expects the company's financial profile to
remain highly leveraged, with a debt-to-EBITDA ratio of 8.0x-8.5x
through year-end 2016.  For the same period, S&P expects funds from
operations-to-debt ratio in the 6%-8% range, and EBITDA coverage of
2.0x-2.5x.

S&P may lower its rating within the next 12 months if organic
growth or cash-flow generation meaningfully deteriorates,
indicating strained strategic execution and increased risk of an
unfavorable combination of higher-than-expected financial leverage
and weaker-than-expected EBITDA coverage.  Specific trigger points
that could lead to a downgrade include financial leverage of more
than 8.5x and EBITDA coverage less than 2.0x.

S&P may raise its rating in connection with improved competitive
positioning, stemming from an improved business risk profile
relative to peers'.  Also, if the company's financial profile
reflects a more-conservative and sustainable posture of financial
leverage of less than 6.0x and EBITDA coverage of 3.0x-4.0x, S&P
may raise its rating.



ILLINOIS CORPORATE RESOURCE: Case Summary & Top Unsecured Creditor
------------------------------------------------------------------
Debtor: Illinois Corporate Resource, Inc.
        11318 N. May Ave, Suite C
        Oklahoma City, OK 73120-5859

Case No.: 16-10244

Chapter 11 Petition Date: January 28, 2016

Court: United States Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: Hon. Sarah A. Hall

Debtor's Counsel: David B. Sisson, Esq.
                  LAW OFFICES OF B DAVID SISSON
                  PO Box 534
                  224 W. Gray, Ste 101
                  Norman, OK 73070-0534
                  Tel: (405) 447-2521
                  Fax: (405) 447-2552
                  Email: sisson@sissonlawoffice.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Janis A Edwards, president.

The Debtor listed the Internal Revenue Service as its largest
unsecured creditor holding a claim of $3.66 million.

A copy of the petition is available for free at:

             http://bankrupt.com/misc/okwb16-10244.pdf


IMPERIAL METALS: S&P Lowers CCR to 'CCC', Outlook Negative
----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit rating on Vancouver-based Imperial Metals Corp. to
'CCC' from 'CCC+'.  The outlook is negative.

Standard & Poor's also revised its recovery rating on the company's
senior unsecured notes to '5' from '4', which reflects S&P's view
of modest (10%-30%; upper half of the range) estimated recovery in
its simulated default scenario.  As a result, Standard & Poor's
lowered its issue-level rating on the debt to 'CCC-' from 'CCC+',
one-notch below the corporate credit rating.

"The downgrade primarily reflects our view that Imperial Metals'
risk of default has increased from our previous expectations,
following the sharp deterioration in copper prices," said Standard
& Poor's credit analyst Jarrett Bilous.

S&P recently revised its copper price assumption for 2016-2018,
which has led to a material reduction in S&P's cash flow estimates
for the company.  In S&P's view, Imperial Metals has limited
flexibility to withstand the impact of lower copper prices, which
are currently below S&P's assumption for the year, given its weak
liquidity position and high near-term interest payment
requirements.  In absence of an unforeseen positive development,
S&P believes the company could exhaust its available liquidity and
default on its debt obligations or consider a distressed exchange
within 12 months.  

The negative outlook mainly reflects the potential for a downgrade
within the next 12 months in the event that the company defaults on
its debt obligations, including a distressed exchange, or if S&P
believes this to be a virtual certainty.

S&P could lower the rating within the next 12 months in the event
that the company defaults on its debt obligations, which could
include a distressed exchange, or if S&P believes a default to be a
virtual certainty.  In this scenario, S&P would ascribe little to
no probability for further capital injections from Imperial Metals'
major shareholders or other sources, or the company's ability to
amend and extend its credit facilities.

Although S&P views it as unlikely in the next 12 months, an upgrade
could result from a material improvement in liquidity, which S&P
assumes would result primarily from further capital injections from
the company's major shareholders, or other financing options, in
tandem with the amendment and extension of Imperial Metals' senior
credit facility and materially higher cash flow mainly due to
significantly higher copper prices.



INTERNATIONAL SUPPLY: Gets Approval to Hire Briggs as Consultant
----------------------------------------------------------------
International Supply Co. received court approval to hire its former
chief financial officer Denise Briggs as consultant nunc pro tunc
to Dec. 18, 2015.

The company needs a consultant to:

   (1) complete its monthly operating reports through the end of
       disbursements from the debtor-in-possession operating
       account;

   (2) complete and finalize payroll;  

   (3) provide required information to the bankruptcy estate's
       accountants; and

   (4) respond to requests from counsel for the company and
       creditors.

Ms. Briggs has agreed to perform her duties at the rate of $50 per
hour as a Form 1099 independent contractor.

                   About International Supply

International Supply Co. commenced bankruptcy proceedings under
Chapter 11 of the U.S. Bankruptcy Code in Central District of
Illinois (Case No. 15-81467) on September 24, 2015.

The Debtor's primary line of business is integration services and
machinery for power generation systems throughout the country.

The Debtor has tapped Sumner Bourne, Esq., as its counsel.  Judge
Thomas L. Perkins has been assigned the case.

The Office of the U.S. Trustee appointed six creditors to the
official committee of unsecured creditors.  The committee is
represented by Goldstein & McClintock LLLP.


INTERNATIONAL SUPPLY: Gets Approval to Hire Gordon as Accountant
----------------------------------------------------------------
International Supply Co. received court approval to hire Gordon,
Stockman & Waugh P.C. as its accountant.

The order, issued by Judge Thomas Perkins of the U.S. Bankruptcy
Court for the Central District of Illinois, allowed the company to
employ the firm nunc pro tunc to Dec. 2, 2015.

"The debtor is in the process of selling substantially all of its
assets, which will require analysis and opinion of any tax
consequences of the sale," said its lawyer Sumner Bourne, Esq., at
Rafool, Bourne & Shelby P.C. in Peoria, Illinois.

Gordon has agreed to assist the company at its standard hourly
billing rate of $185, plus expenses.

The firm is a "disinterested person" pursuant to section 101(14) of
U.S. Bankruptcy Code, according to Steve Stockman, a partner
account at Gordon.

Gordon can be reached through:

   Steve Stockman
   Gordon, Stockman & Waugh P.C.
   8726 N. Industrial Road
   Peoria, IL 61615
   Tel: (309) 692-4030
   Fax: (309) 692-4159

                   About International Supply

International Supply Co. commenced bankruptcy proceedings under
Chapter 11 of the U.S. Bankruptcy Code in Central District of
Illinois (Case No. 15-81467) on September 24, 2015.

The Debtor's primary line of business is integration services and
machinery for power generation systems throughout the country.

The Debtor has tapped Sumner Bourne, Esq., as its counsel.  Judge
Thomas L. Perkins has been assigned the case.

The Office of the U.S. Trustee appointed six creditors to the
official committee of unsecured creditors.  The committee is
represented by Goldstein & McClintock LLLP.


INTERNATIONAL SUPPLY: Hires David Cover as Special Attorney
-----------------------------------------------------------
International Supply Co. has hired David Cover of the law firm of
Cover, Evans & Fricke LLP as its special attorney.

Mr. Cover was hired by the company to review and draft
confidentiality agreements, according to its lawyer Sumner Bourne,
Esq., at Rafool, Bourne & Shelby P.C. in Peoria, Illinois.

"The debtor is in the process of marketing itself, and issuing
sensitive financial information to potential purchasers," the
lawyer said.  "Non-disclosure and confidentiality agreements need
to be reviewed or drafted by an attorney with experience in such
matters."

Mr. Cover will also help the company prepare documents related to a
possible sale of its assets, provide legal advice and perform
routine corporate legal services.

Mr. Cover has agreed to represent the company at his standard
hourly billing rate of $270.  International Supply will also
reimburse him for work-related expenses.   

In a declaration, Mr. Cover disclosed that he and his firm are
"disinterested persons" within the scope of section 101(14) of U.S.
Bankruptcy Code.

Mr. Cover can be reached through:

   Cover, Evans & Fricke LLP
   Twin Towers Plaza
   456 Fulton, Suite 203
   Peoria, IL 61602
   Tel: (309) 673-8227
   Fax: (309) 673-4238

                   About International Supply

International Supply Co. commenced bankruptcy proceedings under
Chapter 11 of the U.S. Bankruptcy Code in Central District of
Illinois (Case No. 15-81467) on September 24, 2015.

The Debtor's primary line of business is integration services and
machinery for power generation systems throughout the country.

The Debtor has tapped Sumner Bourne, Esq., as its counsel.  Judge
Thomas L. Perkins has been assigned the case.

The Office of the U.S. Trustee appointed six creditors to the
official committee of unsecured creditors.  The committee is
represented by Goldstein & McClintock LLLP.


JHK INVESTMENTS: Ch. 11 Case Assigned to Judge Carla E. Craig
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Connecticut
reassigned the Chapter 11 case of JHK Investments, LLC, from Judge
Alan H.W. Shiff to Judge Carla E. Craig.

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

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

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

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

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


JOE'S JEANS: Launches Differential Brands Group
-----------------------------------------------
Joe's Jeans, Inc., completed a merger combining Hudson Jeans and
Robert Graham, pursuant to an Agreement and Plan of Merger dated
Sept. 8, 2015.  Concurrent with the closing of the transaction, the
Company has been renamed Differential Brands Group Inc. and will
remain publicly listed on NASDAQ under the ticker DFBG.  The name
change signifies the transformation of the standalone Hudson Jeans
and Robert Graham businesses into a unified consumer platform.

The strategic combination of Hudson Jeans and Robert Graham will
serve as the initial foundation for Differential, which will focus
on organically growing its owned brands through a global,
omni-channel distribution strategy across premium wholesale
channels, direct-to-consumer retail stores and e-commerce, while
seeking opportunities to acquire accretive, complementary, premium
brands.

Michael Buckley, current chief executive officer of Robert Graham,
who has previous public company leadership experience at True
Religion, in addition to experience at Diesel and Ben Sherman, will
lead Differential as chief executive officer.  Mr. Buckley stated,
"I believe Differential is uniquely positioned to become one of the
foremost premium omni-channel brand platforms in the world, and I
am thrilled with the opportunity to lead the company as Chief
Executive Officer and to work closely with the Board of Directors
and Tengram Capital Partners in the years to come."

Mr. Sweedler, co-founder and managing partner of Tengram Capital
Partners, added, "Tengram is thrilled to sponsor this unique
transaction and to have the opportunity to create a new
transformative public platform focused on wholesale operating
companies with strong brands that possess the potential to grow
through global omni-channel distribution."  Mr. Sweedler further
added, "We believe Differential fills a void in the U.S. public
market landscape by focusing exclusively on brands that develop
products for consumers shopping at premium retailers. Additionally,
we believe that Differential will be able to offer retail customers
a unique, one-stop resource for their diverse in-store brand needs.
Our playbook calls for Differential to build its existing brands
organically and for the company to pursue complementary
acquisitions with strong accretion metrics both financially and
operationally."

                       About Joe's Jeans

Joe's Jeans Inc. -- http://www.joesjeans.com/-- designs, produces
and sells apparel and apparel-related products to the retail and
premium markets under the Joe's(R) brand and related trademarks.

As of Aug. 31, 2015, the Company had $172 million in total
assets, $149 million in total liabilities and $22.6 million in
total stockholders' equity.

In its audit report on the consolidated financial statements for
the year ended Nov. 30, 2014, Moss Adams LLP expressed substantial
doubt about the Company's ability to continue as a going concern,
citing that the Company has a net working capital deficiency due to
debt covenant violations and has suffered recurring losses from
operations.

The Company reported a net loss of $27.7 million on $189 million of
net sales for the fiscal year ended Nov. 30, 2014, compared with a
net loss of $7.31 million on $140 million of net sales in 2013.


KEMET CORP: Rama Marda Reports 5.9% Equity Stake as of Dec. 31
--------------------------------------------------------------
Rama S Marda disclosed in an amended Schedule 13G filed with the
Securities and Exchange Commission that as of Dec. 31, 2015, it
beneficially owns 2,721,860 shares of common stock of Kemet
Corporation representing 5.95 percent of the shares outstanding.  A
copy of the regulatory filing is available for free at:

                       http://is.gd/p3TPpm

                           About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

As of Dec. 31, 2015, the Company had $706.97 million in total
assets, $582.56 million in total liabilities and $124.41 million in
total stockholders' equity.

                           *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to 'Caa1'
from 'B2' and the Probability of Default Rating to 'Caa1-PD' from
'B2- PD' based on Moody's expectation that KEMET's liquidity will
be pressured by maturing liabilities and negative free cash flow
due to the interest burden and continued operating losses at the
Film and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on KEMET to 'B-' from
'B+'.  "The downgrade is based on continued top-line and margin
pressures and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that S&P revised its outlook on
KEMET to 'stable' from 'negative'.  S&P affirmed the ratings,
including the 'B-' corporate credit rating.


KEMET CORP: Reports Preliminary Fiscal 2016 Q3 Quarterly Results
----------------------------------------------------------------
KEMET Corporation reported a net loss of $8.60 million on $177.18
million of net sales for the quarter ended Dec. 31, 2015, compared
to net income of $2.91 million on $201.31 million of net sales for
the quarter ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $706.97 million in total
assets, $582.56 million in total liabilities and $124.41 million in
total stockholders' equity.

"Even though the distribution channel continued its inventory
correction our OEM and EMS channels remained steady with our
adjusted gross margin continuing strong this quarter at 22.2%,"
stated Per Loof, KEMET's chief executive officer.  "We believe the
distributor inventory correction is over as bookings are up early
this quarter compared to the same time last quarter.  Longer term
demand will be driven by market innovation by the key customers we
serve and we are well positioned to provide creative solutions
across multiple end markets with a cost structure that will provide
increasing value to our shareholders," continued Loof.

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

                       http://is.gd/4ocfPP

                           About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

                           *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to 'Caa1'
from 'B2' and the Probability of Default Rating to 'Caa1-PD' from
'B2- PD' based on Moody's expectation that KEMET's liquidity will
be pressured by maturing liabilities and negative free cash flow
due to the interest burden and continued operating losses at the
Film and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on KEMET to 'B-' from
'B+'.  "The downgrade is based on continued top-line and margin
pressures and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that S&P revised its outlook on
KEMET to 'stable' from 'negative'.  S&P affirmed the ratings,
including the 'B-' corporate credit rating.


KEMET CORP: Tocqueville Asset Holds 6.5% Stake as of Dec. 31
------------------------------------------------------------
Tocqueville Asset Management L.P. reported in a Schedule 13G filed
with the Securities and Exchange Commission that as of Dec. 31,
2015, it beneficially owns 2,970,000 shares of common stock of
Kemet Corp representing 6.49 percent of the shares outstanding.  A
copy of the regulatory filing is available for free at:

                       http://is.gd/yeJaUb

                           About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

As of Sept. 30, 2015, the Company had $739 million in total assets,
$609 million in total liabilities, and $130 million in total
stockholders' equity.

                           *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to 'Caa1'
from 'B2' and the Probability of Default Rating to 'Caa1-PD' from
'B2- PD' based on Moody's expectation that KEMET's liquidity will
be pressured by maturing liabilities and negative free cash flow
due to the interest burden and continued operating losses at the
Film and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on KEMET to 'B-' from
'B+'.  "The downgrade is based on continued top-line and margin
pressures and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that S&P revised its outlook on
KEMET to 'stable' from 'negative'.  S&P affirmed the ratings,
including the 'B-' corporate credit rating.


KOPPERS INC: S&P Lowers CCR to 'B' on Weaker Operating Results
--------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Pittsburgh-based Koppers Inc. and Koppers Holdings 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 secured debt, including its $500 million senior
secured revolving credit facility, $300 million term loan A, and
$300 million ratably secured notes due 2019, to 'B+' from 'BB-'.
The recovery rating remains '2', indicating S&P's expectations for
substantial (lower end of the 70% to 90% range) recovery in the
event of a payment default.

"The downgrade reflects our expectation that the company's 2015 and
2016 EBITDA and credit measures will be moderately weaker than we
had previously forecast," said Standard & Poor's credit analyst
Brian Garcia.  "As a result, we now view the company's liquidity
position to be less than adequate, with EBITDA cushion under its
covenants below 15% over the next 12 months," he added.

Koppers Inc. is a producer of carbon materials and chemicals,
performance chemicals, and railroad and utilities products and
services.  S&P assess the company's business profile as fair and
its financial risk profile as aggressive.  S&P views liquidity as
less than adequate.

The stable outlook reflects S&P's belief that the relatively steady
earnings generated by the performance chemicals and RUPS segments
will impart some stability to the company's operating results.
S&P's base case projects that stability in these two segments
should help offset anticipated continued weakness in the more
volatile CM&C segment.  S&P anticipates that over the next year the
company will focus on using free cash flow to reduce debt.  S&P
expects the company to have less-than-adequate liquidity, with
covenant headroom of less than 15% over the next year.  At the
current rating, S&P would expect the company to maintain credit
measures at the lower end of the aggressive financial risk profile,
including weighted average FFO to debt of 12% to 15% (pro forma for
acquisitions).

S&P could lower the ratings in the next 12 months if liquidity
deteriorates such that S&P considers it weak or it appears that the
company could not successfully negotiate covenant relief if needed.
S&P could consider a downgrade if the CM&C segment has a
larger-than-expected decline in 2016 EBITDA, partially due to
continually depressed oil prices.  S&P could consider a downgrade
if it expects FFO to debt to drop below 12% on a weighted average
basis (pro forma for acquisitions).

"We could raise the ratings in the next 12 months if we think that
the company will maintain adequate liquidity, including building
and maintaining at least a 15% EBITDA cushion under its financial
covenants.  This could be a result of improved EBITDA above our
current expectations combined with greater than expected debt
repayment or an amendment to the company's covenants.  We could
also consider a one-notch upgrade if we anticipate that the company
could maintain FFO to debt in the higher end of the aggressive
band, at consistently above 15% (pro forma for acquisitions)," S&P
said.



LARRY MILLER: 5th Cir. Reverses Ruling Releasing FLSA Claim
-----------------------------------------------------------
Plaintiff-Appellant Jose Hernandez filed a claim for unpaid
overtime wages in violation of the Fair Labor Standards Act against
Defendants-Appellees Larry Miller Roofing, Inc., and Larry Miller
individually.

The district court stayed the action when LMRI filed a Suggestion
of Bankruptcy.  LMRI filed a reorganization plan with the
bankruptcy court, and Hernandez voted to accept the plan.  In
accordance with the plan, Hernandez received 30% of his FLSA claim
for unpaid wages.  Following the confirmation of LMRI's
reorganization plan by the bankruptcy court, the district court
reopened Hernandez's FLSA case against Miller individually.  The
court granted summary judgment to Miller on the FLSA claim,
reasoning that LMRI's reorganization plan released Hernandez's FLSA
claim against both LMRI and Miller.

In a Decision dated January 6, 2016, which is available at
http://is.gd/H8aPGBfrom Leagle.com, the United States Court of
Appeals for the Fifth Circuit reversed the judgment of the district
court and remanded the case for further proceedings consistent with
how the court interprets LMRI's reorganization plan as releasing
only Hernandez's FLSA claim against LMRI.

The case is JOSE E. HERNANDEZ, and all others similarly situated
under 29 U.S.C. 216(b), Plaintiff-Appellant, v. LARRY MILLER
ROOFING, INCORPORATED; LARRY MILLER, Defendants-Appellees, No.
15-10287.


LEONARDO ACQUISITION: S&P Withdraws 'B' Corp. Credit Rating
-----------------------------------------------------------
Standard & Poor's Ratings Services withdrew its ratings on contact
lens provider Leonardo Acquisition Corp (d/b/a 1-800 Contacts),
including the 'B' corporate credit rating, following the completion
of CNT Holdings III Corp.'s acquisition of the company. 1-800
Contact's is now wholly owned by CNT, and all of its previously
rated debt has been repaid.


LEXARIA CORP: Signs Distribution Agreement with Telluride Coffee
----------------------------------------------------------------
Lexaria, Corp. has signed a sales distribution agreement with
Telluride Coffee Roasters, LLC.

TCR is a wholesale coffee roasting company in business since 1991
creating European style, slow roasted coffees shipped fresh to
coffeehouses, grocery stores and individuals around the country.
TCR's principals bring over 45 years' combined experience in coffee
growing, importing, classifying and roasting assuring retail
outlets they are purchasing only the finest coffees and teas.  TCR
currently distributes its handmade coffee products at several dozen
locations throughout Colorado and beyond.

Sales efforts of ViPova and Lexaria Products have already commenced
at Colorado grocery stores, coffee shops, dispensaries, and other
retail outlets.  Distribution through TCR marks Lexaria and
ViPova's first-ever distribution efforts into mainstream stores,
and adheres to the Company's plans of seeking broader channel
distribution throughout 2016.

Tom Ihrke, president of ViPova said, "Residents of a state like
Colorado are well aware of the wellness benefits of hemp and its
non-psychoactive properties.  We have every reason to expect
Telluride will have great success selling our products throughout
their network."

Throughout 2016, Lexaria plans further distribution of its products
within some of the hundreds of thousands of appropriate existing
retail outlets in channels such as coffee shops, convenience
stores, pharmacies, fitness clubs, and more.

ViPova products are also available at www.vipova.com.

                          About Lexaria

Lexaria Corp. was formed under the laws of the State of Nevada and
commenced operations on Dec. 9, 2004.  The Company is an
independent natural gas and oil company engaged in the exploration,
development and acquisition of oil and gas properties in the United
States and Canada.  The Company's entry into the oil and gas
business began on Feb. 3, 2005.  The Company has offices in
Vancouver and Kelowna, BC, Canada.  Lexaria's shares are quoted in
the USA under the symbol LXRP and in Canada under the symbol LXX.

The Company reported a net loss of $459,000 for the three months
ended Feb. 28, 2015, compared with a net loss of $126,000 for the
same period in 2013.

The Company's balance sheet at May 31, 2015, showed $1.2 million in
total assets, $62,604 in total liabilities, and stockholders'
equity of $1.14 million.

"The Company has a net loss of $1,254,670 for the nine months ended
May 31, 2015 (May 31, 2014: $639,936) and at May 31, 2015 had a
deficit accumulated since its inception of $9,570,059 (August 31,
2014: $8,315,389).  The Company has working capital surplus of
$1,095,293 as at May 31, 2015 (August 31, 2014 working capital
surplus: $1,649,436).  The Company requires additional funds to
maintain its existing operations and developments.  These
conditions raise substantial doubt about our Company's ability to
continue as a going concern," according to the Form 10-Q report for
the period ended May 31, 2015.


MANITOWOC FOODSERVICE: Moody's Assigns B2 Corporate Family Rating
-----------------------------------------------------------------
Moody's Investors Service assigned initial ratings to Manitowoc
Foodservice, Inc., including the Corporate Family Rating ("CFR") of
B2 and Probability of Default Rating ("PDR") of B2-PD.
Concurrently, Moody's assigned B1 ratings to Foodservice's proposed
$250 million 5-year revolving credit facility and proposed
first-lien $975 million 7-year senior secured term loan B. Moody's
also assigned the Speculative Grade Liquidity rating at SGL-2. The
rating outlook is stable.

MTW Foodservice Escrow Corp ("Escrow Corp.") proposed $425 million
senior unsecured notes were rated Caa1. Escrow Corp. is expected to
be merged into Foodservice upon the funding and consummation of the
spin-off transaction as Manitowoc Foodservice, Inc. will be the
issuer going forward (per the offering circular).

Proceeds from the proposed debt facilities will fund a dividend of
approximately $1.4 billion to The Manitowoc Company, Inc.
("Manitowoc") as compensation for the Foodservice spin-off and fund
its initial cash balance, financing fees and expenses. The
transaction is expected to close in the first half of 2016.

Moody's assigned the following ratings:

Manitowoc Foodservice, Inc. :

Corporate Family Rating, B2;

Probability of Default Rating, B2-PD;

Proposed 5-year revolving credit facility, B1 (LGD3);

Proposed 7-year Term Loan B, B1 (LGD 3);

Speculative Grade Liquidity Rating, SGL-2.

The outlook is stable.

MTW Foodservice Escrow Corp:

Proposed 8-yr Senior Unsecured Notes, Caa1 (LGD5)

RATINGS RATIONALE

The B2 CFR reflects Moody's expectation for weak demand growth in
Foodservice's end market of commercial kitchen equipment, which is
likely to remain challenging into 2017. This is anticipated to
result in continued lackluster organic revenue growth. Initial
financial leverage is high given this business profile. Pro forma
for the debt to fund the dividend to The Manitowoc Company, Inc.
(the Cranes business), Foodservice is expected to have debt /
EBITDA of over 6 times and moderate interest coverage (EBITA /
Interest) of 1.9 times as of the last twelve months ended December
31, 2015 (all numbers inclusive of Moody's standard adjustments).

The B2 is predicated on the expectation that Foodservice will
improve its EBITDA and margins by managing pricing and achieving
cost efficiencies, and maintain adequate room under its financial
covenants, which tighten through December 2018. Higher EBITDA going
forward should enable deleveraging by debt reduction. Moody's
believes Foodservice will have good liquidity, indicated by the
SGL-2 rating, driven primarily by the expectation of at least $90
million of free cash flow over the next year, and a $250 million
revolving credit facility expected to be largely unused.

The stable ratings outlook reflects Moody's expectations for flat
to lackluster revenue growth in 2016 and the right sizing of the
company's operations to improve EBITDA margins and reduce leverage
from current levels, particularly in the anticipated challenging
global macroeconomic and business environment.

The ratings and/or outlook could be downgraded if Moody's expects
debt/EBITDA to remain above 6 times or a marked deterioration in
EBIT /Interest coverage approaching 1.25x. Similarly, a material
decline in revenue, EBITDA margin erosion or a sustained weakening
in free cash flow or liquidity could adversely affect the ratings.
Inability to continue the cost reductions to steadily boost margins
or to improve pricing could also pressure the ratings.

A sustained increase in revenues, coupled with significant
improvement in margins from cost savings and higher manufacturing
capacity utilization and debt/EBITDA approaching 4.5x, could lead
to an upgrade.

Manitowoc Foodservice, Inc. is a global manufacturer and designer
of commercial foodservice equipment, including refrigeration,
ice-making, cooking, and beverage dispensing products for use in
commercial food preparation applications. Pro-forma revenues were
approximately $1.5Bn for the last twelve months ended September
2015.




MARION AVENUE: Case Summary & 6 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Marion Avenue Management LLC
        507 West 186th Street
        New York, NY 10033

Case No.: 16-10213

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: January 29, 2016

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Judge: Hon. James L. Garrity Jr.

Debtor's Counsel: Ted Donovan, Jr.
                  GOLDBERG WEPRIN FINKEL GOLDSTEIN LLP
                  1501 Broadway, 22nd Floor
                  New York, NY 10036
                  Tel: (212)-221-5700
                  Fax: 212-422-6836
                  Email: TDonovan@GWFGlaw.com

                     - and -

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

Total Assets: $2.01 million

Total Liabilities: $554,169

The petition was signed by Sion Sohayegh, manager.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/nysb16-10213.pdf


MISSOURI CORPORATE RESOURCE: Case Summary & Top Unsecured Creditor
------------------------------------------------------------------
Debtor: Missouri Corporate Resource, Inc.
        11318 N. May Ave, Suite C
        Oklahoma City, OK 73120-5859

Case No.: 16-10247

Chapter 11 Petition Date: January 28, 2016

Court: United States Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: Hon. Sarah A. Hall

Debtor's Counsel: David B. Sisson, Esq.
                  LAW OFFICES OF B DAVID SISSON
                  PO Box 534
                  224 W. Gray, Ste 101
                  Norman, OK 73070-0534
                  Tel: (405) 447-2521
                  Fax: (405) 447-2552
                  Email: sisson@sissonlawoffice.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Janis A Edwards, president.

The Debtor listed the Internal Revenue Service as its largest
unsecured creditor holding a claim of $1.88 million.

A copy of the petition is available for free at:

            http://bankrupt.com/misc/okwb16-10247.pdf


MMM HOLDINGS: S&P Assigns 'B-' LT Counterparty Credit Rating
------------------------------------------------------------
Standard & Poor's Ratings Services said that it assigned its 'B-'
local-currency, long-term counterparty credit rating to MMM
Holdings Inc.  S&P also have a 'B-' foreign-currency long-term
counterparty credit rating on MMM Holdings Inc.  The outlook is
negative.

"We are correcting our rating on MMM Holdings Inc. by assigning the
local-currency counterparty credit rating.  We previously
incorrectly only had a 'B-' foreign-currency counterparty credit
rating on MMM Holdings Inc.," said Standard & Poor's credit analyst
James Sung.  The outlook is negative.

The negative outlook reflects the potential for a downgrade to the
'CCC' category during the next 12 months if the company cannot
sustain its earnings stabilization, and if this increases the
refinancing risk regarding its term loan, which effectively matures
in March 31, 2017 (or up to June 30, 2017, with extensions).  If it
appears likely that the company will be unable to refinance its
debt and default is inevitable, S&P will downgrade the rating to
'CC'.

An upgrade during the next 12 months is unlikely.  However, S&P
would consider affirming the current ratings if the company meets
our expectations for operating performance in 2016-2017 and
positions itself for a successful refinancing or strategic
alternative.



MODULAR SPACE: S&P Puts 'B-' CCR on CreditWatch Negative
--------------------------------------------------------
Standard & Poor's Ratings Services said that it has placed all of
its ratings on Berwyn, Pa.-based Modular Space Corp., including
S&P's 'B-' corporate credit rating, on CreditWatch with negative
implications.

"The CreditWatch placement reflects our expectation that the
upcoming maturity of Modular Space's revolver may affect its
ability to fund its near-term obligations and overall liquidity
position," said Standard & Poor's credit analyst Tatiana Kleiman.
"It also incorporates our view that Modular Space's credit metrics
could remain weak because of foreign-exchange losses (caused by the
relative strength of the U.S. dollar compared to the Canadian
dollar), continued softness in the company's domestic markets, and
declining oil prices."

S&P will resolve the CreditWatch after it has further information
about the company's refinancing plans.



MOLYCORP INC: Panel Hires Boies Schiller as Conflicts Counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of Molycorp, Inc., et
al., seeks permission from the U.S. Bankruptcy Court for the
District of Delaware to retain Boies, Schiller & Flexner LLP as
special conflicts counsel for the Committee effective November 13,
2015.

The Committee requires Boies Schiller to:

   (a) serve as lead trial counsel in prosecuting the Proposed
       Committee Complaint;

   (b) represent the Committee as special conflicts counsel in
       hearings and other judicial proceedings with regard to the
       merits of the Committee Litigation;

   (c) consult with the Committee, the Debtors, Oaktree, any other
       potential defendants with respect to the Proposed Committee
       Complaint, and the U.S. Trustee concerning the Committee
       Litigation;

   (d) represent the Committee as special conflicts counsel with
       respect to any objections to Oaktree's claims against the
       Debtors; and

   (e) in each of cases (a) through (d) in a manner that avoids
       unnecessary duplication of the work of any other advisor to

       the Committee.

Boies Schiller will be paid at these hourly rates:

       Karen Dyer                    $990
       Robin Henry                   $1,150
       Hamish Hume                   $1,090
       Scott Gant                    $990
       George Coe                    $720
       Miguel Lopez                  $610
       Colin Quinlan                 $490
       Jennifer Edward               $250
       Rita Vanbeuren                $220
       Partners                      $780-$1,500
       Counsel                       $720-$1,180
       Associates                    $490-$790
       Paraprofessionals             $200-$330

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

Karen C. Dyer, partner of Boies Schiller, 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.

Boies Schiller provides the following statement regarding the U.S.
Trustee Guidelines:

  -- Boies Schiller is agreeable to reducing its standard    
     photocopy charge from $0.20 per page to $0.10 per page in
     accordance with the Local Rules. Otherwise Boies Schiller has

     not agreed to any variations from its standard or customary
     billing arrangements for services in these Chapter 11 cases.

  -- The Committee and Boies Schiller expect to work together to
     develop a budget and staffing plan for the period from
     November 13, 2015 through March 31, 2016.

Desai Eggman can be reached at:

       Karen C. Dyer, Esq.
       BOIES SCHILLER & FLEXNER LLP
       121 South Orange Avenue, Ste. 840
       Orlando, FL 32801
       Tel: (407) 245-8793
       Fax: (407) 425-7047
       E-mail: kdyer@bsfllp.com

                          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.


MONAKER GROUP: Obtains $600,000 From Private Placement
------------------------------------------------------
Monaker Group, Inc. closed an offering of an aggregate of 240,000
units to Donald P. Monaco Insurance Trust, an accredited investor,
at a price per unit of $2.50 with each Unit consisting of (i) one
(1) share of the Company's common stock, par value $0.00001 per
share, and (ii) one (1) warrant to acquire one share of Common
Stock at an exercise price of $1.50 per share, for aggregate cash
proceeds of $600,000.  Donald P. Monaco, a member of the Company's
Board of Directors, is the trustee of the Monaco Insurance Trust.

The Warrants issued in the Offering expire on Jan. 21, 2017, may be
exercised on a cashless basis, and contain certain anti-dilution
protection provisions, including those that are triggered upon the
payment by the Company of a stock dividend, if the Company
subdivides or reclassifies its outstanding shares of Common Stock
into a greater number of shares, or if the Company combines or
reclassifies its outstanding shares of Common Stock into a smaller
number of shares.

The Company intends to use the net proceeds of the Offering for
working capital and general corporate purposes, including without
limitation, to purchase assets to enhance the Company's strategy.


                        About Monaker Group

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

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

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

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


MORGANS HOTEL: FelCor to Sell Royalton and Morgans Hotels
---------------------------------------------------------
Morgans Hotel Group Management LLC entered into amendments to each
of the hotel management agreements relating to Royalton hotel and
Morgans hotel, both owned by affiliates of FelCor Lodging Trust
Incorporated.  In connection with FelCor's potential sale of each
of Royalton and Morgans, Morgans and FelCor agreed to allow FelCor
to sell the hotels unencumbered by the current hotel management
agreements.  Under each of the amendments, FelCor has the right to
terminate the hotel management agreements at any time upon at least
30 days' prior written notice in exchange for paying Morgans $3.5
million for each of the hotels upon a termination of each agreement
(for a total of $7.0 million).  FelCor has stated that it expects
that Morgans will continue to manage the hotels for FelCor until
they are sold.

                    About Morgans Hotel Group

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

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

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


NORTHWEST BARS: Files Ch 11 Bankr. Petition for Katie Mullen's
--------------------------------------------------------------
Alicia Wallace at The Denver Post reports that Northwest Bars Inc.
has filed for Chapter 11 bankruptcy protection for the downtown
location, Katie Mullen's Irish Restaurant & Pub, estimating its
assets and debts at between $100,001 and $500,000.  

Court documents show that Katie Mullen's has fewer than 50
creditors.

The filing pertains only to the downtown location, as its sister
pubs Wee Katie's Irish Restaurant and Pub in Lower Highland and
Katie Eile's Restaurant & Pub in Westminster are independently
owned, The Denver Post relates, citing Paul Maye, the Company's
owner.

"We opened up in the worst of times, when conventional banking was
not available," the report quoted Mr. Maye as saying.

According to Amy DiPierro at BusinessDen, the restaurant has faced
increased competition as the Denver market grows.

The restructuring will not affect day-to-day business at the pub,
BusinessDen states, citing Mr. Maye.

The Law Office of David M. Serafin is representing the Company,
BusinessDen reports.

Katie Mullen's Irish Restaurant & Pub opened in the Sheraton Denver
Downtown Hotel six years ago.


OMNICOMM SYSTEMS: Guus Kesteren Reports 3.2% Stake as of Dec. 31
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Guus van Kesteren disclosed that as of Dec. 31, 2015,
it beneficially owns 4,147,410 shares of common stock of Omnicomm
Systems, Inc., representing 3.2 percent of the shares oustanding.
A copy of the regulatory filing is available for free at:

                        http://is.gd/BWhtrG

                       About OmniComm Systems

Ft. Lauderdale, Fla.-based OmniComm Systems, Inc., is a healthcare
technology company that provides Web-based electronic data capture
("EDC") solutions and related value-added services to
pharmaceutical and biotech companies, clinical research
organizations, and other clinical trial sponsors principally
located in the United States and Europe.

OmniComm Systems reported a net loss attributable to common
stockholders of $4.66 million on $16.5 million of total revenues
for the year ended Dec. 31, 2014, compared to a net loss
attributable to common stockholders of $3.36 million on $14.3
million of total revenues for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $6.79 million in total
assets, $37.90 million in total liabilities and a total
shareholders' deficit of $31.11 million.

Liggett, Vogt & Webb, P.A., in Boynton Beach, Florida, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company has experienced net losses and negative cash flows and has
utilized debt and equity financing to satisfy the Company's capital
requirements.  These factors raise substantial doubt about the
Company's ability to continue as a going concern, the auditors
noted.


PERFORMANCE SPORTS: S&P Lowers CCR to 'B-' on Weak Profitability
----------------------------------------------------------------
Standard & Poor's Ratings lowered its corporate credit rating on
Exeter, N.H.-based Performance Sports Group Ltd. to 'B-' from 'B'.
The outlook is stable.

At the same time, S&P lowered the issue-level rating on PSG's $450
million term loan due 2021 to 'B-' from 'B'.  The recovery rating
remains unchanged at '3', indicating S&P's anticipation of
meaningful (50% to 70% recovery, in the upper half of the range) in
the event of a payment default.

"The rating action reflects our expectation that profitability and
credit metrics will remain weak as a result of lower sales," said
Standard & Poor's credit analyst Beverly Correa.  "These lower
sales result from a strengthened U.S. dollar, weakened global
economic growth in its key international hockey markets, including
Russia, and continued competitive challenges within the sector,"
Ms. Correa added.

The stable outlook reflects S&P's expectation that the company will
keep credit protection measures near its forecast levels, maintain
adequate liquidity, and generate positive FOCF.  



PLEASE TOUCH MUSEUM: Gets Interim Approval to Use Cash Collateral
-----------------------------------------------------------------
Please Touch Museum received interim approval to use the cash
collateral of U.S. Bank, National Association.

U.S. Bankruptcy Judge Jean FitzSimon allowed Please Touch Museum to
use the cash collateral of its secured lender starting Jan. 27 and
until the next order is issued by the judge.

This is the fifth interim order issued by the bankruptcy judge.
Last month, Judge FitzSimon allowed Please Touch Museum to use the
cash collateral from Dec. 23 to Jan. 27, court filings show.

A copy of the Jan. 27 order is available without charge at
http://is.gd/SeNqTy

                     About Please Touch Museum

Please Touch Museum operates a children's museum known as the
Please Touch Museum located at Memorial Hall in the Fairmount Park
section of Philadelphia.  It generates its revenues through a
combination of sales of memberships and tickets to the Museum,
event revenue, endowment income, and charitable contributions.

Please Touch Museum filed Chapter 11 bankruptcy petition (Bankr.
E.D. Pa. Case No. 15-16558) on Sept. 11, 2015.  The petition was
signed by Lynn McMaster, the president and chief executive
officer.

Judge Jean K. FitzSimon is assigned to the case.

The Debtor disclosed total assets of $16,244,356 and total
liabilities of $63,513,617.

Dilworth Paxson LLP serves as the Debtor's counsel.  EisnerAmper
LLP acts as the Debtor's financial advisor.  Isdaner & Company, LLC
is the Debtor's tax advisor and auditor.  Rust Consulting/Omni
Bankruptcy is the Debtor's claims, notice and solicitation agent.


PLUG POWER: BlackRock Reports 5.4% Equity Stake as of Dec. 31
-------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, BlackRock, Inc. disclosed that as of Dec. 31, 2015, it
beneficially owns 9,675,953 shares of common stock of Plug Power
Inc. representing 5.4 percent of the shares outstanding.  A copy of
the regulatory filing is available at http://is.gd/kiLs1t

                      About Plug Power

Plug Power Inc. is a provider of alternative energy technology
focused on the design, development, commercialization and
manufacture of fuel cell systems for the industrial off-road
(forklift or material handling) market.

Plug Power reported a net loss attributable to common shareholders
of $88.6 million on $64.2 million of total revenue for the year
ended Dec. 31, 2014, compared to a net loss attributable to common
shareholders of $62.8 million on $26.6 million of total revenue for
the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $205 million in total assets,
$54.8 million in total liabilities, $1.15 million in Series C
redeemable convertible preferred stock and $149 million in total
stockholders' equity.


POSITIVEID CORP: Signs $2.1 Million Subscription Agreement
----------------------------------------------------------
PositiveID Corporation closed a financing transaction by entering
into a Securities Purchase Agreement dated Jan. 28, 2016, with
Dominion Capital LLC for an aggregate subscription amount of
$2,100,000.  

Pursuant to the Securities Purchase Agreement, the Company will
issue a series of 4% Original Issue Discount Senior Secured
Convertible Promissory Notes to the Purchaser.  The Purchase Price
will be paid in six equal monthly tranches of $350,000.  Each
individual Note will be issued upon payment and will be amortized
beginning six months after issuance, with amortization payments
being 1/24th of the principal and accrued interest, made in cash or
common stock at the option of the Company, on a semi-monthly basis,
subject to certain conditions and limitations contained in the
Securities Purchase Agreement.  The amortization payments will
begin on the 15th day of the month immediately following the
six-month anniversary of the Closing Date.  The Company also
reimbursed the Purchaser $30,000 for legal fees and transaction
expenses from the proceeds of the first tranche.  The use of
proceeds from this financing is intended for general working
capital including development of Firefly Dx.

The total principal amount of the Notes is issued with a 4%
original issue discount whereby the aggregate Principal Amount of
the Notes is $2,187,500, with an aggregate net purchase price of
$2,100,000.  Each Note accrues interest at a rate equal to 12% per
annum (interest is guaranteed for the first 12 months) and the
initial note has a maturity date of July 15, 2017.  Each Note is
convertible any time after its issuance date.  The Purchaser has
the right to convert any or all of the Notes into shares of the
Company's common stock at a fixed conversion price equal to $0.022
(which was a 22% premium to the closing bid price of the Company's
common stock on Jan. 27, 2016), subject to adjustment as described
in the Notes.  The Notes can be prepaid at any time upon five days'
notice to the Holder by paying an amount in cash equal to the
outstanding principal and interest, and a 20% premium.

In connection with the Company's obligations under the Notes, the
Company entered into a Security Agreement with the Purchaser,
pursuant to which the Company granted a lien on all assets of the
Company, subject to existing security interests, for the benefit of
the Purchaser, to secure the Company's obligations under the Notes.
In the event of a default as defined in the Notes, the Purchaser
may, among other things, collect or take possession of the
Collateral, proceed with the foreclosure of the security interest
in the Collateral, or sell, lease or dispose of the Collateral.

The Company engaged Aegis Capital Corp. as placement agent for this
offering, and issued to Aegis a placement agent warrant to purchase
an aggregate of 1,150,000 shares of common stock at an exercise
price set at a 25% premium to the Purchaser's conversion price as
of the Closing Date as a component of their commission. The Company
also will pay a fee of 8% of the gross cash proceeds from the
Purchase Price.

                        About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $8.22 million on $945,000 of revenue for the year ended
Dec. 31, 2014, compared with a net loss attributable to common
stockholders of $13.33 million on $0 of revenue for the year ended
Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $1.04 million in total
assets, $10.86 million in total liabilities and a $9.82 million
total stockholders' deficit.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014.  The accounting firm noted that the
Company reported a net loss, and used cash for operating
activities of approximately $7.19 million and $2.57 million
respectively, in 2014.  At Dec. 31, 2014, the Company had a working
capital deficiency, stockholders' deficit and accumulated deficit
of approximately $8.076 million, $8.45 million and $133 million,
respectively.


PREMIERE GLOBAL: S&P Assigns 'B' CCR & Rates $50MM Revolver 'B'
---------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B'
corporate credit rating to Atlanta-based Premiere Global Services
Inc. (PGI).  The outlook is negative.

At the same time, S&P assigned its 'B' issue-level rating and '3'
recovery rating to the company's $50 million first-lien revolver
maturing 2020 and its $550 million first-lien term loan maturing
2021.  The '3' recovery rating indicates S&P's expectation for
meaningful (50%-70%; upper half of the range) recovery in the event
of a payment default.

"The ratings on PGI reflect the company's middle-tier position
within the highly competitive and fragmented audio conferencing
market," said Standard & Poor's credit analyst Kenneth Fleming.

The ratings also reflect pro forma leverage in the high-6x to
low-7x area as of Sept. 30, 2015, which S&P expects to decline to
the low-6x area by Dec. 31, 2016.  Over the coming year, S&P
expects that the company will realize a portion of its planned cost
reductions, thus improving EBITDA margins and reducing leverage.
The ratings are consistent with our assessments of the company's
"weak" business risk profile and "highly leveraged" financial risk
profile.

The negative outlook reflects the high leverage post-transaction
and the risk of unplanned business disruption from the company's
cost restructuring activities.

S&P could lower the rating on PGI if the audio conferencing segment
contracts at a faster than expected pace, or if disruption from
restructuring activities causes market share loss, resulting in
leverage sustained above 7x.

S&P could revise the outlook to stable if the company can maintain
its market share while implementing material cost reductions such
that it records sustained leverage below 6.5x.



PRESCOTT VALLEY: Has Until March 11 to Decide on Unexpired Leases
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona extended
until March 11, 2016, the deadline by which Prescott Valley Events
Center, LLC, must assume or reject the unexpired leases of
non-residential real property under which the Debtor is the lessee,
licensee, or occupant.

Specifically, the Debtor seeks an order extending the deadline by
which it must assume or reject (1) the Lease Agreement with
Entertainment Center Community Facilities District as lessor, and
the Debtor as lessee, dated Dec. 21, 2006; and (2) the Prescott
Valley Event Center Parking Access Agreement with Prescott Valley
Signature Entertainment, L.L.C., and the Debtor dated Oct. 2,
2006.

                About Prescott Valley Events Center

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

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

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

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

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


PRIME GOLD: Incurs $1.59 Million Net Loss in Fiscal 2015
--------------------------------------------------------
Prime Gold Capital Group Incorporated filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $1.59 million on $1.91 million of net total revenues for
the year ended Oct. 31, 2015, compared to a net loss of $1.33
million on $2.30 million of net total revenues for the year ended
Oct. 31, 2014.

As of Oct. 31, 2015, the Company had $47.08 million in total
assets, $18.44 million in total liabilities and $28.63 million in
total equity.

Crowe Horwath (HK) CPA Limited, in Hong Kong, China, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has a working capital deficiency, accumulated deficit from
recurring net losses and significant short-term debt obligations
maturing in less than one year as of Oct. 31, 2015.  All these
factors raise substantial doubt about its ability to continue as a
going concern.

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

                      http://is.gd/BRHiFG

                       About Prime Global

Prime Global Capital Group Incorporated (formerly Home Touch
Holding Company) was incorporated in the State of Nevada on
Jan. 26, 2009.  On Jan. 25, 2011, the Company changed its name to
Prime Global Capital Group Incorporated.

Currently, the Company, through its subsidiaries, is principally
engaged in the operation of a durian plantation, leasing and
development of the operation of a oil palm plantation, commercial
and residential real estate properties in Malaysia.


QUICKSILVER RESOURCES: Second Lien Creditors Have Perfected Liens
-----------------------------------------------------------------
Judge Laurie Selber Silverstein of the United States Bankruptcy
Court for the District of Delaware concluded that the Second Lien
Parties have liens on all of Quicksilver Resources, Inc.'s real
property interests located in Texas, and that those liens are
perfected in the seven counties in which mortgages are recorded.

On November 9, 2015, the Official Committee of Unsecured Creditors
initiated an adversary proceeding by filing its 19-count Complaint
for Declaratory Judgment and for Related Relief and Objection to
Claims against the Second Lien Parties, seeking separate
declaratory judgments regarding various categories of collateral,
avoidance of unperfected liens and security interests, and relief
under sections 506(c) and 552(b)(1) of the Bankruptcy Code.

On June 21, 2013, Quicksilver and certain of its direct and
indirect subsidiaries entered into that certain Second Lien Credit
Agreement, which made available to Quicksilver a $625 million
second lien term loan.  On the same day, Quicksilver also issued
that certain second lien senior secured floating rate notes due
2019 indenture, as well as that certain Mortgage, Deed of Trust,
Assignment of As-Extracted Collateral, Security Agreement, Fixture
Filing and Financing Statement.

The Committee argued that Section 2.01 of the mortgages grant liens
only on the oil and gas properties that are specifically listed on
each Exhibit A to the accompanying mortgages.  Because the real
property interests are not included in Exhibit A, the Committee
concluded that Section 2.01 does not grant a lien on those
interests.  Alternatively, the Committee also argued that the
mortgages do not satisfy the Texas statute of frauds because the
disputed real property interests are not listed on any Exhibit A,
and thus, the liens are subject to avoidance.

The Second Lien Parties argued that subsections (a) and (e) in
Section 2.01 both grant a lien on the disputed real property
interests.

Judge Silverstein found that Subsection (a) does not grant a lien
on the disputed real property interests.  However, the judge agreed
with the Second Lien parties in finding that subsection (e) grants
a blanket lien on all real property interests in Texas, including
the disputed real property interests, and that the said subsection
satisfied the statute of frauds as to those real estate interests
within Texas.  Finally, Judge Silverstein concluded that the Second
Lien Parties hold perfected liens on all of Quicksilver's real
property interests located in seven counties in Texas.

The adversary proceeding is THE OFFICIAL COMMITTEE OF UNSECURED
CREDITORS, on behalf of the Debtors' estates, Plaintiff, v. THE
BANK OF NEW YORK MELLON TRUST COMPANY N.A., as indenture trustee
under that certain Indenture dated June 21, 2013 and as Second Lien
Agent under that certain Mortgage, Deed of Trust, Assignment of
As-Extracted Collateral, Security Agreement, Fixture Filing and
Financing Statement dated June 21, 2013; CREDIT SUISSE AG, as
administrative agent under that certain Second Lien Credit
Agreement dated June 21, 2013; and LINDA DAUGHERTY, as trustee
under that certain Mortgage, Deed of Trust, Assignment of
As-Extracted Collateral, Security Agreement, Fixture Filing and
Financing Statement dated June 21, 2013; and JOHN DOES 1-1,000,
Adv. Pro. No. 15-51896 (LSS) (Bankr. D. Del.).

The case is In re: QUICKSILVER RESOURCES INC., et al., Chapter 11,
Case No. 15-10585 (LSS)(Bankr. D. Del.).

A full-text copy of Judge Silverstein's January 8, 2016, opinion is
available at http://is.gd/jsTFn8from Leagle.com.

Quicksilver Resources Inc. is represented by:

          Joel Byron Bailey, Esq.
          Maurice L. Brimmage, Jr., Esq.
          Sarah J. Crow, Esq.
          Charles R. Gibbs, Esq.
          Lacy M. Lawrence, Esq.
          Sarah Link Schultz, Esq.
          AKIN GUMP STRAUSS HAUER & FELD LLP
          1700 Pacific Avenue Suite 4100
          Dallas, TX 75201-4624
          Tel: (214)969-2800
          Fax: (214)969-4343
          Email: jbailey@akingump.com
                 mbrimmage@akingump.com
                 sjcrow@akingump.com
                 cgibbs@akingump.com
                 llawrence@akingump.com
                 sschultz@akingump.com

            -- and --

          Ashleigh L. Blaylock, Esq.
          Kevin M. Eide, Esq.
          AKIN GUMP STRAUSS HAUER & FELD LLP
          1333 New Hampshire Avenue, N.W.
          Washington, DC 20036-1564
          Tel: (202)887-4000
          Fax: (202)887-4288
          Email: blaylock@akingump.com
                 keide@akingump.com

            -- and --

          Rachel Layne Biblo, Esq.
          Paul N. Heath, Esq.
          Amanda R. Steele, Esq.
          RICHARDS, LAYTON & FINGER, P.A.
          One Rodney Square
          920 North King Street
          Wilmington, DE 19801
          Tel: (302)651-7700
          Fax: (302)651-7701
          Email: biblo@rlf.com
                 heath@rlf.com
                 steele@rlf.com

United States Trustee, U.S. Trustee, is represented by:

          Jane M. Leamy, Esq.
          OFFICE OF THE U.S. TRUSTEE
          844 King Street Suite 2207
          Lockbox 35
          Wilmington, DE 19801
          Tel: (302)573-6491
          Fax: (302)573-6497

Garden City Group, LLC, Claims Agent, is represented by:

          Angela Ferrante, Esq.
          Karen Beth Shaer, Esq.
          THE GARDEN CITY GROUP, LLC.
          1985 Marcus Ave.
          Lake Success, NY 11042
          Tel: (800)327-3664
          Email: angela.ferrante@gardencitygroup.com

OFFICIAL COMMITTEE OF UNSECURED CREDITORS, Creditor Committee, is
represented by:

          Richard Scott Cobb, Esq.
          Travis J. Ferguson, Esq.
          Matthew B. McGuire, Esq.
          Joseph D. Wright, Esq.
          LANDIS RATH & COBB LLP
          Email: cobb@lrclaw.com
                 ferguson@lrclaw.com
                 mcguire@lrclaw.com
                 wright@lrclaw.com

            -- and --

          Adam M. Denhoff, Esq.
          Elizabeth R. McColm, Esq.
          Paul Paterson Esquire, Esq.
          Margaret A Phillips, Esq.
          Andrew N. Rosenberg, Esq.
          Jacqueline Rubin, Esq.
          Holly A. VanderSluis, Esq.
          Maria T. Vullo, Esq.
          PAUL WEISS RIFKIND WHARTON & GARRISON
          1285 Avenue of the Americas
          New York, NY 10019-6064
          Tel: (212)373-3000
          Fax: (212)757-3990
          Email: adenhoff@paulweiss.com
                 emccolm@paulweiss.com
                 arosenberg@paulweiss.com
                 jrubin@paulweiss.com
                 hvandersluis@paulweiss.com
                 mvullo@paulweiss.com

              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: Panel Can Tap Drinker Biddle as Litigation Atty
-------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York
authorized the Official Committee of Unsecured Creditors in the
Chapter 11 cases of Relativity Fashion, LLC, et al., to employ
Drinker Biddle & Reath LLP as special litigation counsel nunc pro
tunc to Aug. 27, 2015.

On Aug. 27, the Committee selected Drinker as special litigation
counsel to, among other things, initially investigate and
determine, on an expedited basis, the extent and validity of liens
asserted against the Debtors' assets and to provide such other
bankruptcy litigation services as may be directed by the Committee
in the cases.

Drinker Biddle is expected to:

   (a) attend the meetings of the Committee;

   (b) review financial and operational information furnished by
the Debtors and their professionals to the Committee; and

   (c) confer with the Debtors' management, counsel and financial
advisors.

Drinker Biddle's current rates range from $550 to $775 per hour for
partners, $605 per hour for of counsel, $375 to $540 per hour for
associates, and $295 per hour for paralegals and law clerks.

Drinker Biddle will also charge the Committee for all charges and
disbursements incurred in rendering services to the Committee.

To the best of the Committee knowledge, Drinker Biddle is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

Drinker Biddle also provided these statement in response to the
request for additional information set forth in Paragraph D.1. of
the Revised UST Guidelines:

Question: Did you agree to any variations from, or alternatives
          to, your standard or customary billing arrangements for
          this engagement?

Response: Yes; Drinker Biddle has agreed to cap the firm's rates
          at $775 per hour.

Question: Do any of the professionals included in this engagement
          vary their rate based on the geographic location of the
          bankruptcy case?

Response: No.

Question: If you represented the client in the 12 months
          prepetition, disclose your billing rates and material
          financial terms for the prepetition engagement,
          including any adjustments during the 12 months
          prepetition.  If your billing rates and material
          financial terms have changed postpetition, explain the
          difference and the reasons for the difference.

Response: Drinker Biddle did not represent the Committee or
          Committee members in the 12 months prepetition. Drinker
          Biddle may represent in the future certain Committee
          members or their affiliates in their capacities as
          official committee members in other chapter 11 cases.

Question: Has your client approved your prospective budget and
          staffing plan, and if so for what budget period?

Response: In conjunction with the Togut Firm, Drinker Biddle is in

          the process of formulating a budget and staffing plan
          for this proposed engagement, which it will review with
          the Committee as contemplated by Part E of the Revised
          UST Guidelines (may be amended as necessary to reflect
          changed circumstances or unanticipated developments).
          Any disclosure of such budget and staffing plan will be
          retrospective only in conjunction with the filing of fee

          applications by Drinker Biddle.

The firm can be reached at:

         Robert K. Malone, Esq.
         Marita S. Erbeck, Esq.
         DRINKER BIDDLE & REATH LLP
         1177 Avenue of the Americas, 41 st Floor
         New York, NY 10036-2714
         Tel: (212) 248-3140
         Fax: (212) 248-3141

            -- and --

         600 Campus Drive
         Florham Park, NJ 07932-1047
         Tel: (973) 549-7000
         Fax: (973) 360-9831

            About Relativity

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

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

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

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

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

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

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

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

                           *     *     *

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

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


RELATIVITY FASHION: Wants Until April 25 to Remove Civil Actions
----------------------------------------------------------------
Relativity Fashion, LLC, et al., ask the U.S. Bankruptcy Court for
the Southern District of New York to extend until April 25, 2016,
their time to  file notices of removal of the civil actions and
proceedings in state and federal courts.  According to the Debtors,
they needed additional time to analyze the civil action.

                         About Relativity

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

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

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

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

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

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

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

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

                           *     *     *

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

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


RELATIVITY MEDIA: CIT Bank Objects to Plan of Reorganization
------------------------------------------------------------
Eriq Gardner, writing for The Hollywood Reporter, reports that CIT
Bank, which extended a production loan on Relativity Media's
forthcoming film 'Masterminds' and horror film The Disappointments
Room, has objected the Company's reorganization plan.

According to The Hollywood Reporter, CIT Bank argued that the plan
proponents cannot take advantage of the "cram down" provision of
bankruptcy law.  The report quoted CITY Bank's attorney as saying,
"The Proposed Plan is not fair and equitable to the lenders as it
neither provides for them to retain their liens nor for their
realization of the indubitable equivalent of their claims."

The Company intends to extend the maturity date of loans by as much
as three-and-a-half years -- in the case of Masterminds, that would
be March 1, 2019 -- but those loans have been structured in a way
that the loan is repaid when a film is completed, before the
theatrical release, The Hollywood Reporter says, citing CIT Bank.

The report states that other objections from Google and Comcast
(over advertising debt), QNO (over the assumption of a contract for
the film Somnia), Viacom (over Relativity's commitment to place
advertising for the Brick Mansions), The Weinstein Company (over
The Crow) Nicholas Sparks (over profit participation from Safe
Haven) and Brett Ratner (over a lingering dispute over
participation on Catfish) have been tabled to Feb. 17, 2016.

David Lieberman at Deadline.com relates that a hearing will be held
on Feb. 1, 2016, where Judge Michael Wiles could decide to let the
Company operate once again independently, without court oversight
and free of most of the commitments that it couldn't fulfill.

                         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.


RETROPHIN INC: BlackRock Reports 6.4% Stake as of Dec. 31
---------------------------------------------------------
BlackRock, Inc., disclosed in a Schedule 13G filed with the
Securities and Exchange Commission that as of Dec. 31, 2015, it
beneficially owns 2,319,621 shares of common stock of Retrophin
Inc. representing 6.4 percent of the shares outstanding.  A copy of
the regulatory filing is available at http://is.gd/SI9USZ

                       About Retrophin

Retrophin, Inc., develops, acquires and commercializes therapies
for the treatment of serious, catastrophic or rare diseases.  The
Company offers Chenodal(R), a treatment for gallstones;
Vecamyl(R), a treatment for moderately severe to severe essential
hypertension and uncomplicated cases of malignant hypertension;
and Thiola, for the prevention of kidney stone formation in
patients with severe homozygous cystinuria.

Retrophin reported a net loss of $111 million in 2014 following a
net loss of $34.6 million in 2013.  As of Sept. 30, 2015, the
Company had $512 million in total assets, $221 million in total
liabilities, and $291 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
Dec. 31, 2014.  The accounting firm noted that the Company has
suffered recurring losses from operations, used significant amounts
of cash in its operations, and expects continuing future losses.
In addition, at Dec. 31, 2014, the Company had deficiencies in
working capital and net assets of $70.2 million and $37.3 million,
respectively.  Finally, while the Company was in compliance with
its debt covenants at Dec. 31, 2014, it expects to not be in
compliance with these covenants in 2015.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern, the auditors said.


RETROPHIN INC: Prudential Reports 6.6% Stake as of Dec. 31
----------------------------------------------------------
Prudential Financial, Inc. disclosed in an amended Schedule 13G
filed with the Securities and Exchange Commission that as of
Dec. 31, 2015, it beneficially owns 2,399,056 shares of common
stock of Retrophin Inc. representing 6.6 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/p9WHOG

                         About Retrophin

Retrophin, Inc., develops, acquires and commercializes therapies
for the treatment of serious, catastrophic or rare diseases.  The
Company offers Chenodal(R), a treatment for gallstones;
Vecamyl(R), a treatment for moderately severe to severe essential
hypertension and uncomplicated cases of malignant hypertension;
and Thiola, for the prevention of kidney stone formation in
patients with severe homozygous cystinuria.

Retrophin reported a net loss of $111 million in 2014 following a
net loss of $34.6 million in 2013.  As of Sept. 30, 2015, the
Company had $512 million in total assets, $221 million in total
liabilities, and $291 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
Dec. 31, 2014.  The accounting firm noted that the Company has
suffered recurring losses from operations, used significant amounts
of cash in its operations, and expects continuing future losses.
In addition, at Dec. 31, 2014, the Company had deficiencies in
working capital and net assets of $70.2 million and $37.3 million,
respectively.  Finally, while the Company was in compliance with
its debt covenants at Dec. 31, 2014, it expects to not be in
compliance with these covenants in 2015.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern, the auditors said.


ROCKWELL MEDICAL: BlackRock Holds 5.5% Stake as of Dec. 31
----------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, BlackRock, Inc. disclosed that as of Dec. 31, 2015, it
beneficially owns 2,824,943 shares of common stock of Rockwell
Medical Inc. representing 5.5 percent of the shares outstanding.  A
copy of the regulatory filing is available at:

                      http://is.gd/7CIiLH

                        About Rockwell

Rockwell Medical, Inc. (Nasdaq: RMTI), headquartered in Wixom,
Michigan, is a fully-integrated biopharmaceutical company
targeting end-stage renal disease ("ESRD") and chronic kidney
disease ("CKD") with innovative products and services for the
treatment of iron deficiency, secondary hyperparathyroidism and
hemodialysis (also referred to as "HD" or "dialysis").

Rockwell's lead investigational drug is in late stage clinical
development for iron therapy treatment in CKD-HD patients.  It is
called Soluble Ferric Pyrophosphate ("SFP").  SFP delivers iron to
the bone marrow in a non-invasive, physiologic manner to
hemodialysis patients via dialysate during their regular dialysis
treatment.

Rockwell reported a net loss of $21.3 million in 2014, a net loss
of $48.8 million in 2013 and a net loss of $54.02 million in 2012.

As of Sept. 30, 2015, the Company had $90.9 million in total
assets, $26.5 million in total liabilities and $64.4 million in
total shareholders' equity.


SABINE OIL: Panel Extends Scope of Porter Hedges Employment
-----------------------------------------------------------
The Official Committee of Unsecured Creditors of Sabine Oil & Gas
Corporation, et al., seeks authorization from the Hon. Shelley C.
Chapman of the U.S. Bankruptcy Court for the Southern District of
New York to expand the scope of Porter Hedges LLP's retention as
Texas and Oil and Gas counsel.

Subsequent to the entry of the Retention Order, the Committee
requested, and Porter Hedges agreed, to expand the scope of the
firm's employment to include the provision of legal services
relating to matters within the scope of services to be provided by
Ropes and Gray LLP, but which are not appropriately handled by
Ropes and Gray because of an actual or potential conflict of
interest.

Porter Hedges can be reached at:

       Porter Hedges LLP
       1000 Main Street, 36th Floor
       Houston, TX 77002
       Tel: (713) 226-6000
       Fax: (713) 228-1331

                  About Sabine Oil & Gas Corporation

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

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

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

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


SEQUENOM INC: Amends Bylaws to Add Forum Selection Provision
------------------------------------------------------------
The Board of Directors of Sequenom, Inc., approved an amendment to
the Company's Restated Bylaws, as amended, effective Jan. 26, 2016,
in order to add a forum selection provision for the adjudication of
certain disputes.  The Amendment, set forth in Article XI, Section
1 of the Bylaws, provides that, unless the Company consents in
writing to the selection of an alternative forum, the Court of
Chancery of the State of Delaware (or, if the Court of Chancery
does not have jurisdiction, another state court located within the
State of Delaware or, if no state court located within the State of
Delaware has jurisdiction, the federal district court for the
District of Delaware) will, to the fullest extent permitted by law,
be the sole and exclusive forum for:

    (i) any derivative action or proceeding brought on behalf of
        the Company;

   (ii) any action asserting a claim of breach of a fiduciary duty
        owed by any director, officer or other employee of the
        Company to the Company or the Company's stockholders;

  (iii) any action asserting a claim arising pursuant to any
        provision of the General Corporation Law of Delaware, the
        certificate of incorporation of the Company or the Bylaws;
        or

   (iv) any action asserting a claim governed by the internal
        affairs doctrine.

                          About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

As of Sept. 30, 2015, the Company had $129 million in total assets,
$156 million in total liabilities and a $27.7 million total
stockholders' deficit.

"If we fail to generate enough cash flow from our operations or
otherwise obtain the capital necessary to fund our operations, our
financial results, financial condition and our ability to continue
as a going concern will be adversely affected and we will have to
cease or reduce further commercialization efforts or delay or
terminate some or all of our diagnostic testing services or other
product development programs," the Company said in its 2014 annual
report.


SEQUENOM INC: To Amend Director Removal Provision in Bylaws
-----------------------------------------------------------
The Delaware Chancery Court issued an opinion in In re VAALCO
Energy, Inc. Stockholder Litigation, Consol. C.A. No. 11775-VCL,
invalidating as a matter of law provisions of the certificate of
incorporation and bylaws of VAALCO Energy, Inc., a Delaware
corporation, that permitted the removal of VAALCO's directors by
its stockholders only for cause.  The Chancery Court held that, in
the absence of a classified board or cumulative voting, VAALCO's
"only for-cause" director removal provisions conflict with Section
141(k) of the Delaware General Corporation Law and are therefore
invalid.

Article III, Section 13 of the Bylaws contains a similar "only
for-cause" director removal provision, and Sequenom, Inc. does not
have a classified board of directors or cumulative voting.  As
such, and in light of the recent VAALCO decision, the Company will
not attempt to enforce the foregoing "only for-cause" director
removal provision.  The Company will also seek to amend the Bylaws
at its 2016 Annual Meeting of Stockholders in order to provide
that, consistent with Section 141(k) of the Delaware General
Corporation Law, any of the Company's directors or its entire board
of directors may be removed, with or without cause, by the holders
of a majority of the shares then entitled to vote at an election of
directors.

                         About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

As of Sept. 30, 2015, the Company had $129 million in total assets,
$156 million in total liabilities and a $27.7 million total
stockholders' deficit.

"If we fail to generate enough cash flow from our operations or
otherwise obtain the capital necessary to fund our operations, our
financial results, financial condition and our ability to continue
as a going concern will be adversely affected and we will have to
cease or reduce further commercialization efforts or delay or
terminate some or all of our diagnostic testing services or other
product development programs," the Company said in its 2014 annual
report.


SHILOH INDUSTRIES: S&P Lowers CCR to 'B+' Then Withdraws Rating
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it has lowered its
corporate credit rating on Shiloh Industries Inc. to 'B+' from
'BB-'.  The outlook is negative.

S&P withdrew all of its ratings on Shiloh Industries Inc. at the
company's request.

"The downgrade reflects that we have revised our assessment of
Shiloh's financial risk profile to aggressive from significant
because the company's credit measures have been weakening
(debt-to-EBITDA of over 5x and negative FOCF in fiscal-year 2015),"
said Standard & Poor's credit analyst Naomi Dsouza.  Shiloh's
credit metrics have been pressured because the company is adjusting
to its larger corporate structure (following its recent
acquisitions), increasing its capital expenditures above historical
levels (to support a larger manufacturing footprint), and managing
an active program launch cycle.  While the company's recent
acquisitions and new program wins have improved its business
diversity, its FOCF-to-debt ratio has fallen below S&P's expected
range for a 'BB-' corporate credit rating.

The negative outlook reflects that there at least a one-in-three
chance that the company's debt-to-EBITDA metric will remain above
5x while its FOCF-to-debt ratio remains below 5% during fiscal-year
2016.

S&P withdrew all of its ratings on Shiloh at the company's
request.



SOUTHERN REGIONAL: Speedy Hearing on Sale-Related Issues Sought
---------------------------------------------------------------
First Financial Investment Fund V, LLC asked a bankruptcy judge to
hold a hearing to resolve issues related to the sale of Southern
Regional Health System Inc.'s assets to Prime Healthcare Foundation
Inc.

In a motion it filed in the U.S. Bankruptcy Court for the Northern
District of Georgia, the company asked Judge Wendy Hagenau to hear
the issues before the sale closes.  

First Financial had opposed last year any move by Southern Regional
to include in the sale the accounts receivable it purchased from
the company.

When Judge Hagenau approved the sale, she ordered First Financial
and Prime Healthcare to resolve issues regarding the former's
continued access to Southern Regional's books and records, and the
delivery of funds that the buyer may receive on the accounts
receivable.

The issues, however, have not been resolved to date, according to
First Financial.

Southern Regional has sold most of its assets to Prime Healthcare,
including the Southern Regional Medical Center in Riverdale,
Georgia, after receiving approval from Judge Hagenau on Oct. 27
last year.  

As part of the deal, Southern Regional was offered a $9.2 million
financing to get the company through bankruptcy, according to court
filings.

The assets were supposed to be sold in an auction pursuant to a
court-approved bidding process launched by the company.  The
auction was canceled after it failed to draw multiple bids.

Pension Benefit Guaranty Corp. and a group led by Cigna HealthCare
of Georgia Inc. that provides benefits to Southern Regional
employees had previously opposed the sale.

PBGC complained the company did not disclose enough information
that would allow it to evaluate the deal.  Meanwhile, the Cigna-led
group opposed any proposed assignment of its contracts with the
company without its consent.

The sale had also drawn opposition from the committee representing
Southern Regional's unsecured creditors.  

In a court filing, the committee complained that the sale would
only benefit lenders while leaving the company "administratively
insolvent."

The committee also said the company violated Georgia law by
attempting to sell fraud claims and the Bankruptcy Code by using
section 363 to sell "non-debtor" assets.

Southern Regional and Prime Healthcare defended the sale by saying
it will keep open the only hospital in Clayton County.  Southern
Regional also denied it would be selling fraud claims and
non-debtor assets.

On Nov. 9, the committee appealed the sale order before the U.S.
District Court for the Northern District of Georgia.

              About Southern Regional Health System

Southern Regional Health System, Inc., owns the Southern Regional
Medical Center, a 331-licensed bed full-service hospital located in
Riverdale, Georgia.  Managed by Emory Healthcare, Inc., the
hospital serves residents throughout the region south of Atlanta.
As a leader in neurologic, heart & vascular, bariatric, and women's
healthcare services, Southern Regional's medical staff is comprise
of more than 480 physicians that blend their passion for healing
with advanced technology to offer the latest procedures and
treatments.

Southern Regional and its subsidiaries sought Chapter 11 protection
(Bankr. N.D. Ga. Case No. 15-64266) on July 30, 2015, in Atlanta,
Georgia.  The cases are assigned to Judge Wendy L. Hagenau.

Southern Regional Health System, Inc. disclosed total assets of
$41,996,075 and total liabilities of $42,884,499.  The Debtors'
secured creditors are Gemino Healthcare Finance, LLC, and U.S.
Foods, Inc.

Gemino claims to be owed in excess of $10 million, while U.S. Foods
has a $60,000 claim.

The Debtors tapped Scroggins & Williamson, P.C., as bankruptcy
attorneys, Nelson Mulins Riley & Scarborough LLP, as outside
general counsel, and Kurtzman Carson Consultants LLC as claims and
balloting agent.  GGG Partners, LLC serves as financial advisors to
the Debtors.

The Official Committee of Unsecured Creditors tapped Lamberth,
ifelli, Ellis & Nason, P.A., and Pepper Hamilton, LLP, as
attorneys.  PricewaterhouseCoopers LLP serves as its financial
advisors.


SPANISH BROADCASTING: Moody's Cuts Corporate Family Rating to Caa2
------------------------------------------------------------------
Moody's Investors Service downgraded Spanish Broadcasting System,
Inc.'s Corporate Family Rating to Caa2 from Caa1, Probability of
Default Rating to Caa3-PD from Caa1-PD, and lowered its Speculative
Grade Liquidity Rating to SGL-4 from SGL-3. Moody's also downgraded
the company's $275 million senior secured notes due 2017 to Caa2
from Caa1 and the 10 3/4% Series B Preferred Stock to Ca from Caa3
and changed the outlook to Negative from Stable. The downgrades and
Negative outlook reflect the need to address restrictions related
to its Voting Rights Triggering Event and the heightened potential
for payment default given the near term maturity of the $275
million senior secured notes due April 2017.

Issuer: Spanish Broadcasting System, Inc.

-- Downgraded:

-- Corporate Family Rating: Downgraded to Caa2 from Caa1

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

-- $275 million Senior Secured Notes due April 2017: Downgraded
    to Caa2, LGD3 from Caa1, LGD3

-- 10 3/4% Series B Preferred Stock: Downgraded to Ca, LGD6 from
    Caa3, LGD6

-- Speculative Grade Liquidity (SGL) Rating: Lowered to SGL-4
    from SGL-3

-- Outlook Actions:

-- Outlook changed to Negative from Stable

RATINGS RATIONALE

Spanish Broadcasting's Caa2 Corporate Family Rating and Caa3-PD
Probability of Default Rating reflect very high debt+preferred
stock-to-EBITDA of 10.4x estimated for LTM December 2015 (including
Moody's standard adjustments, 6.9x excluding preferred stock and
accrued dividends), the need to address the Voting Rights
Triggering Event, and the heightened potential of a payment default
given the near term maturity of the 12.5% senior secured notes due
April 2017. Ratings incorporate significant restrictions as a
result of the continuation of the Voting Rights Triggering Event
that occurred in October 2013 when the holders of the company's
Series B Preferred Stock put 92,223 outstanding shares (roughly
$145 million including accrued dividends as of December 2015) to
the company. These restrictions include limitations on the ability
to incur debt, make certain restricted payments, or undertake
mergers or consolidations. The inability to incur debt creates
significant refinancing risk for the 12.5% notes due 2017 given
that resolution could potentially require the sale of assets or
issuing additional debt to redeem some or all outstanding preferred
shares to address the Voting Rights Triggering Event. Earlier in
January 2016, the company announced it filed applications to
participate in the FCC's television spectrum incentive auction in
Miami, Houston and Puerto Rico to potentially generate cash
proceeds. Moody's does not currently ascribe value to auction
proceeds given uncertainties related to timing for the auction
completion as well as the absence of any guarantee that an operator
will be successful in submitting a winning bid in a given market.
Moody's expects the company to continue working towards an
agreement with preferred shareholders and noteholders, but if
principal payments are not made in accordance with the scheduled
terms, Moody's will treat the failure to meet the original
contractual terms as a default. Accordingly, we view a delay or
forbearance of payment of interest or principal as they come due to
be a default.

Since the issuance of the 12.5% notes at the beginning of 2012,
consolidated revenue and EBITDA fell behind Moody's initial
forecasts, resulting in higher than expected leverage and reduced
free cash flow. Operating performance through September 30, 2015
reflects continued revenue declines in radio and television due to
a decrease in scheduled events, paid programming, and local sales.
Free cash flow generation remains nominal which reduces the
company's ability to accumulate cash or pay down debt. Ratings
reflect ongoing media fragmentation, increasing competition in
Spanish language broadcasting from existing and new competitors,
and the cyclical nature of radio and television advertising demand.
Ratings are also constrained by its dependence on three markets,
(Los Angeles, New York, and Miami) for a majority of total revenue;
however, the company's presence in these large Hispanic markets and
expectations for above average population and buying power growth
for Hispanics in the continental U.S. support revenue and asset
value. The company is expected to have weak liquidity given the
April 2017 note maturity, cash balances of roughly $15 million -
$20 million, no external liquidity facility such as a revolver, and
nominal free cash flow over the next 12 months.

The Negative outlook reflects the heightened potential for a
payment default given the need to address the Voting Rights
Triggering Event and refinance the 12.5% notes due April 2017.
Ratings could be downgraded further if the TV segment unexpectedly
reverts to generating negative EBITDA or if radio operations suffer
from increased competition or soft ad demand in one or more key
markets resulting in the inability to improve leverage and grow
free cash flow. Ratings could also be downgraded if liquidity
deteriorates. Very high leverage and uncertainty related to
resolution of the put of preferred shares limit upward ratings
momentum; however, ratings could be upgraded or the outlook changed
to Stable if we are assured that resolution of the preferred shares
put positions the company to maintain credit metrics, including
leverage, and we believe there is a clear path to refinance the
12.5% notes prior to the April 2017 maturity. The company would
also need to demonstrate good performance with the TV segment
generating higher EBITDA and liquidity remaining adequate with at
least low single-digit percentage free cash flow-to-debt.

Spanish Broadcasting System, Inc., headquartered in Miami, FL, owns
or operates 17 radio stations (91% of LTM September 2015 net
revenue) in six of the eight largest Hispanic markets in the U.S.,
including New York and Los Angeles. The company also operates AIRE
Radio Networks, a national radio platform with more than 100
affiliated stations reaching 88% of the U.S. Hispanic audience.
Spanish Broadcasting's television operations (9% of LTM September
2015 net revenue) include MegaTV, a television operation with
affiliates in the continental U.S. and Puerto Rico, as well as
owned and operated television stations in South Florida and
Houston. The company also operates 21 bilingual websites, including
lamusica.com, Mega.tv and various station websites. Chairman,
President and CEO, Raul Alarcon, Jr., owns 33% of the economic
interest in the company and controls approximately 83% of voting
power through a dual class share structure. In addition, CBS
Corporation and Third Avenue Capital own roughly 10.5% and 9.4% of
the economic interest in the company, respectively, with remaining
shares being widely held. Net revenue for the 12 months ended
September 30, 2015 totaled $143 million.



STONEWALL GAS: S&P Affirms 'B-' CCR, Outlook Stable
---------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on Stonewall Gas Gathering LLC.  The outlook is
stable.

At the same time, S&P affirmed its 'B' issue-level rating on the
company's senior secured term loan B due 2022.  The '2' recovery
rating on this debt remains unchanged, indicating S&P's expectation
of substantial recovery for lenders in the case of a payment
default, in the lower half of the 70% to 90% range.

Stonewall is a single-asset gas-gathering pipeline system located
in the southwestern part of the Marcellus shale basin.  The company
is majority owned by M3 Midstream LLC, an investment vehicle for
the Momentum Energy Group.

Stonewall's gas-gathering pipeline system has been operational as
of Nov. 30, 2015, and construction is within budgeted expectations.
"Our assessment of Stonewall's business risk profile as vulnerable
reflects the company's limited scale, lack of geographic diversity,
and counterparty risk," said Standard & Poor's credit analyst Mike
Llanos.  Partially offsetting these factors is the fee-based nature
of its contracted cash flows.  With construction risk minimized,
the 67-mile system lacks geographic and basin diversity.

The stable outlook reflects S&P's expectation of stable volumes and
adjusted leverage between 4.5x and 5x by year end 2016.

S&P could lower the rating if operational issues pressure volumes
such that liquidity becomes constrained, or if debt leverage
increases to levels that S&P would believe make the capital
structure unsustainable, warranting a downgrade to the 'CCC'
category.

S&P could consider raising the rating if the previously mentioned
companies exercise their option for an ownership stake in the
system and Stonewall uses the proceeds to pay down debt.  S&P could
also consider an upgrade if Stonewall maintains leverage below 5x
and alleviates counterparty risk.



TEXAS CORPORATE RESOURCE: Case Summary & Top Unsecured Creditor
---------------------------------------------------------------
Debtor: Texas Corporate Resource, Inc.
        11318 N. May Ave, Suite C
        Oklahoma City, OK 73120-5859

Case No.: 16-10246

Chapter 11 Petition Date: January 28, 2016

Court: United States Bankruptcy Court
       Western District of Oklahoma (Oklahoma City)

Judge: Hon. Sarah A. Hall

Debtor's Counsel: David B. Sisson, Esq.
                  LAW OFFICES OF B DAVID SISSON
                  PO Box 534
                  224 W. Gray, Ste 101
                  Norman, OK 73070-0534
                  Tel: (405) 447-2521
                  Fax: (405) 447-2552
                  Email: sisson@sissonlawoffice.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Janis A Edwards, president.

The Debtor listed the Internal Revenue Service as its largest
unsecured creditor holding a claim of $1.81 million.

A copy of the petition is available for free at:

           http://bankrupt.com/misc/okwb16-10246.pdf


TRANS-LUX CORP: Bard Associates Reports 6% Stake as of Dec. 31
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Bard Associates, Inc. disclosed that as of Dec. 31,
2015, it beneficially owns 100,730 shares of common stock of
Trans Lux Corporation representing 6 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/i2WS9G

                     About Trans-Lux Corporation

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

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

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

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


TREEHOUSE FOODS: S&P Assigns 'BB' Rating on Proposed $775MM Notes
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BBB-' issue-level
rating to U.S.-based TreeHouse Foods Inc.'s proposed $1.025 billion
senior secured term loan A-2 maturing in 2021.  The recovery rating
is '1', indicating S&P's expectations for very high (90% to 100%)
recovery in the event of a payment default.  At the same time, S&P
removed the company's existing term loans and revolver from
CreditWatch, where they were placed with positive implications on
Dec. 16, 2015.  Also, S&P raised its issue-level ratings on the
existing term loans and revolver to 'BBB-' from 'BB' and revised
the recovery rating to '1' from '3'.  The higher recovery rating
reflects the debts' improved recovery prospects from becoming
secured obligations ahead of the senior unsecured notes in
conjunction with this transaction.  Once leverage falls below 3.5x,
the collateral will be released and S&P will revisit its
issue-level and recovery ratings on these debts.

S&P also assigned a 'BB' issue-level rating to the company's
proposed $775 million senior unsecured notes maturing in 2024.  The
recovery rating on the unsecured debt obligations is '3',
indicating S&P's expectations for meaningful recovery (50%-70%,
lower half of the range) in the event of a payment default.  The
increase in secured debt has pushed the senior unsecured $400
million 4.875% notes recovery rate down into the lower end of the
range, though the ratings on these notes remain unchanged.

Proceeds from the proposed term loan and notes, incremental
revolver borrowings, and $750 million of equity, will fund the
acquisition of the private-label business of ConAgra Foods Inc. for
$2.7 billion.

S&P still believes the company can deleverage to below 4x in 12
months from the close of the transaction, despite the acquisition
being funded with more debt and less equity than originally
contemplated.  The company will fund the difference in equity with
incremental revolver borrowings.  The increase in revolver
borrowings is somewhat offset by the company using free operating
cash flow to reduce its existing revolver balance in the fourth
quarter of 2015, which S&P had not originally considered.  The
equity issuance also has an option to increase the amount of shares
sold by 15%, which could reduce the anticipated revolver draw by
approximately $100 million if exercised.  Leverage will remain
above 4x through 2016 because, under ConAgra's ownership, the
private-label business' EBITDA margins fell into the
high-single-digit area from the low-double-digits due to customer
service issues.  EBITDA margins will be depressed in the 10%-11%
range on an adjusted basis as the company absorbs the lower margin
private-label business and increases its costs to build an
infrastructure to support the $3.7 billion private-label business
that was previously a segment of ConAgra.  However, S&P expects
margins to improve over time with cost savings realization and its
belief that TreeHouse could turn around the underperforming
business.

The acquisition will increase scale, almost doubling TreeHouse's
revenues to about $7 billion, making the company the leading
private-label food manufacturer in North America, and allow entry
into more product categories.  The combined companies will have
minimal product overlap and improve TreeHouse's existing product
diversity.  S&P believes there is upside to the business risk
profile over the intermediate term if the company is able to
execute on its integration plan and repair the private-label
business' relationships with customers and improve order
fulfillment rates.

RATINGS LIST

TreeHouse Foods Inc.
Corporate credit rating                 BB/Stable/--

Ratings Assigned
TreeHouse Foods Inc.
Senior secured
  $1.025 bil. term loan A-2 due 2021     BBB-
   Recovery rating                       1
Senior unsecured
  $775 mil. notes due 2024               BB
   Recovery rating                       3L

Upgraded; Off CreditWatch
                                         To     From
TreeHouse Foods Inc.
Senior secured (formerly unsecured)
  $200 mil. term loan A-1 due 2019       BBB-   BB/Watch Pos
   Recovery rating                       1      3H
  $300 mil. term loan A due 2021         BBB-   BB/Watch Pos
   Recovery rating                       1      3H
  $900 mil. revolver due 2019            BBB-   BB/Watch Pos
   Recovery rating                       1      3H



UMEWORLD LIMITED: Incurs $1.37 Million Net Loss in Fiscal 2015
--------------------------------------------------------------
UMeWorld, Limited filed with the Securities and Exchange Commission
its annual report on Form 20-F disclosing a net loss attributable
to the Company's stockholders of of $1.37 million on $0 of total
revenues for the year ended Sept. 30, 2015, compared to a net loss
attributable to common stockholders of $3.87 million on $0 of total
revenues for the year ended Sept. 30, 2014.

As of Sept. 30, 2015, the Company had $825,773 in total assets,
$2.54 million in total liabilities and a total stockholders'
deficiency of $1.72 million.

AWC (CPA) Limited, in Hong Kong, China, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Sept. 30, 2015, citing that the Company has suffered
recurring losses from operations that raise substantial doubt about
its ability to continue as a going concern.

A full-text copy of the Form 20-F is available for free at:

                     http://is.gd/1YurIr

                        About UmeWorld

UMeWorld was incorporated under the laws of the State of Delaware
on August 8, 1997 under its prior name AlphaRx Inc.  The Company
was re-domiciled to the British Virgin Islands and continued as a
BVI registered company in Jan. 7, 2013.  On March 8, 2013, AlphaRx
Inc. changed its name to UMeWorld Limited.  AlphaRx Inc. was a
pharmaceutical company specializing in the formulation of
therapeutic products using proprietary drug delivery technologies.
On Nov. 4, 2011, the Company ceased all operations on its drug
development business and adopted a new corporate development
strategy that changed the business operation of the Company to
digital media and digital education.


VIGGLE INC: Amends Employment Agreement with EVP Mitchell Nelson
----------------------------------------------------------------
The Compensation Committee of the Board of Directors of Viggle Inc.
has approved an amendment to the employment agreement entered into
on Sept. 8, 2011, between the Company and Mitchell J. Nelson, the
Company's executive vice president and corporate secretary.  

As of Jan. 1, 2016, Mr. Nelson's salary from the Company will be
$150,000 and it is anticipated he will devote at least one-third of
his time to performing services for the Company.  All other terms
and conditions of his employment agreement remain the same.

                           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.


VIGGLE INC: Cancels Circle Shared Services Agreement
----------------------------------------------------
Viggle Inc. and Circle Entertainment Inc. have agreed to terminate,
effective as of Jan. 1, 2016, the Shared Services Agreement between
them dated as of Feb. 15, 2011.  Circle is in the process of
liquidation and any claim to be made under the Circle Shared
Services Agreement will survive the termination of the Circle
Shared Services Agreement.

                           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.


VIGGLE INC: Changes Name to "DraftDay Fantasy Sports, Inc."
-----------------------------------------------------------
Viggle Inc. amended Article First of its Amended and Restated
Certificate of Incorporation, as amended, to change the Company's
name to DraftDay Fantasy Sports, Inc. by filing a Certificate of
Amendment with the Secretary of State of the State of Delaware.

The Company's common stock began being quoted on the NASDAQ Stock
Market under the symbol "DDAY" on Jan. 28, 2016.  The Company has
been assigned the CUSIP number 261427 108.  The Company's
stockholders are not required to take any action with regard to
their ownership of shares of stock of the Company in connection
with the name change.

                          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.


VIGGLE INC: Five Directors Elected to Board
-------------------------------------------
Pursuant to the Written Consent in Lieu of Annual Meeting
previously executed by the holder of the majority of issued and
outstanding shares of Viggle Inc., the following people were
elected to serve on the Board of Directors of the Company until the
next annual meeting of stockholders and until their respective
successors are duly elected and qualified:

      Robert F.X. Sillerman
      Peter C. Horan
      Michael J. Meyer
      Mitchell J. Nelson
      Birame N. Sock

The Stockholder Consent also provided for the reduction in the
number of directors from six to five, three of whom are deemed to
be independent directors, effective as of Jan. 27, 2016.  The
independent directors are Peter C. Horan (who serves as the Board's
Lead Director), Michael J. Meyer, and Birame N. Sock.  John D.
Miller had previously informed the Board of his decision not to
stand for re-election to the Board due to his other
responsibilities.

The holder of the majority of shares of the Company also approved
by written consent the following corporate actions, to become
effective on Jan. 27, 2016:

  * the Amendment to the Company's Certificate of Incorporation
    and change of name;

  * the sale of the Company's rewards business to Perk.com, Inc.;  

    and

  * the ratification of the appointment of BDO USA, LLC as the
    Company's independent registered public accounting firm for
    the fiscal year ending June 30, 2016.

                           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.


VIGGLE INC: Terminates SFX Shared Services Agreement
----------------------------------------------------
Viggle Inc. and SFX Entertainment, Inc. have agreed to terminate,
effective as of Jan. 1, 2016, the Shared Services Agreement between
them dated as of Jan. 4, 2013.  The Company and SFX have agreed to
use best efforts to settle any amounts due to the other within 60
days of the termination of the SFX Shared Services Agreement.

                           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.


VIRTUAL PIGGY: Extends Warrants Expiration to 2017
--------------------------------------------------
The Board of Directors of Virtual Piggy, Inc. approved amendments
extending the term of outstanding warrants to purchase in the
aggregate 24,522,838 shares of common stock of the Company at
exercise prices ranging from $0.01 per share to $3.00 per share.
These Warrants were scheduled to expire at various dates during
2016 and were each extended for an additional one year period from
the applicable current expiration date, with the new expiration
dates ranging from Jan. 26, 2017, to Dec. 28, 2017.

One of the Company's directors, Gerald Hannahs, and entities
affiliated with Mr. Hannahs, currently hold: (i) Warrants to
purchase 3,000,000 shares at an exercise price of $1.00 per share,
which previously were to expire on January 26, 2016 and will now
expire on Jan. 26, 2017, (ii) Warrants to purchase 70,000 shares at
an exercise price of $1.00 per share, which previously were to
expire on Feb. 6, 2016, and will now expire on Feb. 6, 2017, (iii)
Warrants to purchase 37,500 shares at an exercise price of $0.01
per share, which previously were to expire on December 26, 2016 and
will now expire on Dec. 26, 2017, and (iv) Warrants to purchase
50,000 shares at an exercise price of $1.00 per share, which
previously were to expire on Dec. 26, 2016, and will now expire on
Dec. 26, 2017.

               About Oink (Virtual Piggy, Inc.)

Virtual Piggy is the provider of Oink, a secure online and in-store
teen wallet.  Oink enables teens to manage and spend money within
parental controls, while gaining valuable financial management
skills.  The technology company also delivers payment platforms
designed for the Under 21 age group in the global market, and
enables online businesses the ability to function in a  manner
consistent with the Children's Online Privacy Protection Act and
similar international children's privacy laws.  The company, based
in Hermosa Beach, CA, is on the Web at: http://www.oink.com/and
holds three technology patents, US Patent No. 8,762,230, 8,650,621
and 8,812,395.

Virtual Piggy reported a net loss of $9.65 million in 2014, a net
loss of $16 million in 2013 and a net loss of $12.03 million in
2012.

As of Sept. 30, 2015, the Company had $1.31 million in total
assets, $6.26 million in total liabilities, all current, and a
$4.94 million stockholders' deficit.

Morison Cogen LLP, in Bala Cynwyd, PA, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company's losses from
development stage activities raise substantial doubt about its
ability to continue as a going concern.


VIZIENT INC: Moody's Assigns B2 Corporate Family Rating
-------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating
(CFR) and B2-PD Probability of Default Rating to Vizient, Inc.
("Vizient"). At the same time, Moody's assigned B1 (LGD 3) ratings
to the company's proposed first lien senior secured credit
facilities, including a $1.475 billion first lien senior secured
term loan and a $75 million revolving credit facility. Moody's also
assigned a Caa1 (LGD 6) rating to the company's proposed $400
million of senior unsecured notes. This is the first time Moody's
has rated Vizient, Inc. The rating outlook is stable. All ratings
are subject to review of final documentation.

Proceeds from the term loan and senior notes, along with existing
cash, will fund Vizient's acquisition of the Spend and Clinical
Resource Management ("SCM") and Sg2 businesses from MedAssets,
Inc., as well as to refinance existing debt, and pay transaction
fees and expenses. This transaction follows the recent leveraged
buyout of MedAssets by Pamplona Capital Management.

Moody's assigned the following ratings:

Issuer: Vizient, Inc.:

Corporate Family Rating at B2

Probability of Default Rating at B2-PD

Senior secured revolving credit facility at B1 (LGD 3)

Senior secured first lien term loan at B1 (LGD 3)

Senior unsecured notes at Caa1 (LGD 6)

The rating outlook is stable.

RATINGS RATIONALE

The B2 Corporate Family Rating reflects Vizient's high financial
leverage, its aggressive acquisition strategy, and the substantial
integration and execution risks inherent in the consummation of the
MedAssets' Spend and Clinical Resource Management ("SCM")
acquisition, the largest acquisition in Vizient's history. The
rating also reflects the intensely competitive market for Vizient's
services, characterized by the need for innovation and the frequent
introduction of new product and service offerings to remain
successful. In addition, while Moody's expects the company to
generate good free cash flow, liquidity is constrained by a very
large $280 million tax payment which the company needs to make in
April 2017. Partially mitigating these risks, the rating is
supported by the combined company's good scale and market presence,
relatively large and geographically diverse customer base, and
favorable fundamentals and macro trends within the market for group
purchasing organizations ("GPO").

Pro forma for the SCM acquisition and MedAssets' recent loss of a
major contract, Moody's estimates adjusted debt to EBITDA in the
high-6-times range. The estimate also includes the reclassification
of a pending $280 million tax obligation due by April 2017 as debt.
The exclusion of the tax obligation would result in adjusted debt
to EBITDA in the low 6-times range -- still very high.

The stable outlook reflects Moody's expectation that while
Vizient's financial leverage is very high, the company will reduce
leverage to below 6 times within the next 12-18 months with
earnings growth and cost synergies. The stable outlook also
reflects Moody's expectation that the company will maintain at
least adequate liquidity.

While not expected over the near-term due to the company's very
high financial leverage, the ratings could be upgraded if credit
metrics improve due to revenue growth and realization of
acquisition-related synergies. In particular, the ratings could be
upgraded if adjusted debt to EBITDA is sustained below 4.5 times,
and if the company's has satisfied its large outstanding tax
liability.

The ratings could be downgraded if top-line pressure increases, or
the company fails to successfully integrate and realize synergies
from the MedAssets SCM acquisition. In particular, ratings could be
downgraded if adjusted debt to EBITDA is not reduced to below 6
times over the next 12 to 18 months, or if operating margins, cash
flow, or liquidity deteriorate. In addition, the ratings could be
lowered if the company engages in material debt-financed
acquisitions or shareholder initiatives.

Based in Irving, Texas, Vizient, Inc. provides products and
services which enable health care organizations to deliver more
cost-effective care. Health care organizations accessing Vizient's
products and services range from independent, community-based
health care organizations to large, integrated systems and academic
medical centers. Pro forma sales are approximately $1.1 billion.




WAFERGEN BIO-SYSTEMS: Reports 50% Growth in Q4 Revenues
-------------------------------------------------------
WaferGen Bio-systems announced preliminary, unaudited revenue for
the fourth quarter of 2015.  The Company expects total revenue for
the fourth quarter of 2015 to be in the range of $2.3 million to
$2.5 million, which would represent an increase of 43-55% when
compared to the $1.6 million reported for the fourth quarter of
2014.  This also represents a sequential increase of 14-24%
compared to the $2.0 million generated in the third quarter of
2015.  Revenue for the fourth quarter is expected to be the highest
in WaferGen's history, and represents the third consecutive quarter
of revenue growth.  The primary driver of revenue growth was sales
of the Company's SmartChip products and services and the initial
two ICELL8 Single-Cell System sales.

For full-year 2015, WaferGen expects total revenue to be in the
range of $7.1-$7.3 million, which would represent an increase of
18-22% when compared to the $6.0 million reported for the full-year
2014.

"We are extremely pleased with the positive momentum our business
continues to build," said Dr. Rolland Carlson, CEO of WaferGen
Bio-systems.  "The initial feedback from potential ICELL8 customers
has been overwhelmingly positive, and we look forward to continuing
to gain traction in the marketplace in 2016 with this revolutionary
platform.  In addition, the demand for our base business products
remains strong, and we expect that strength to carry over into
2016.  While our 2015 full-year revenues are below our previously
provided guidance of $7.8 to $8.2 million, the anticipated
shortfall is related to the timing associated with certain revenues
that have now been included in our 2016 total revenue guidance of
$12.0-$13.0 million, which would represent an increase of
approximately 70 percent over full-year 2015 total revenues."

                   About WaferGen Bio-systems

Fremont, California-based WaferGen Bio-systems, Inc., engages in
the development of systems for gene expression quantification,
genotyping and stem cell research.  Since 2008, the Company's
primary focus has been on the development, manufacture and
marketing of its SmartChip System, a genetic analysis platform
used for profiling and validating molecular biomarkers in the life
sciences and pharmaceutical drug discovery industries.

WaferGen Bio-systems reported a net loss of $10.7 million in 2014,
a net loss of $16.3 million in 2013 and a net loss of $8.97
million in 2012.

As of Sept. 30, 2015, the Company had $10.65 million in total
assets, $7.66 million in total liabilities and $2.99 million in
total stockholders' equity.


WALTER ENERGY: Hahn Loeser, Wallace Jordan Represent 2 Creditors
----------------------------------------------------------------
Pursuant to Rule 2019 of the Federal Rules of Bankruptcy Procedure,
Hahn Loeser & Parks LLP and Wallace Jordan Ratliff & Brandt, LLC,
disclosed that have been retained as attorneys for the following
creditors in the Chapter 11 cases of Walter Energy, Inc., et al.:

   (1) Crown Castle USA Inc., on its own behalf and on behalf of
its affiliates and subsidiaries including but not limited to CC
Holdings GS V LLC and Global Signal Acquisitions II LLC.  Crown
Castle is a non-debtor counterparty to a contract being assumed by
the debtor and assigned to the buyer.  There is no cure claim due
by the Debtor to assume the agreements.  HLP has represented Crown
Castle in numerous bankruptcy cases throughout the United States.
Crown Castle requested HLP to represent its interests in these
bankruptcy cases.  Crown Castle's limited objection to the proposed
sale had been resolved by the time HLP was contacted by ARP.  HLP
does not anticipate taking any further action on behalf of Crown
Castle in these Bankruptcy Cases.  WJRB has not represented Crown
Castle prior to this engagement.

   (2) ARP Production Company, LLC.  ARP has no pre-petition claim
against the Debtors.  ARP owns a fifty percent interest in a
non-debtor entity that the debtors are selling their interest to
the stalking horse buyer.  HLP has represented ARP and its related
entities, including but not limited to Atlas Resource Partners,
L.P. in numerous bankruptcy cases throughout the United States.
ARP requested HLP to represent its interest in these Bankruptcy
Cases. WJRB has not represented ARP prior to this engagement.

The firm can be reached at:

         Clark R. Hammond, Esq.
         WALLACE, JORDAN, RATLIFF & BRANDT, LLC
         First Commercial Bank Building
         800 Shades Creek Pkwy., Suite 400
         Birmingham, AL 35209
         Tel: (205) 870-0331
         Fax: (205) 874-3270
         E-mail: chammond@wallacejordan.com

           -- and --

         Christopher B. Wick, Esq.
         Hahn Loeser & Parks LLP
         200 Public Square, Suite 2800
         Cleveland, OH 44114
         Tel: (216) 621-0150
         Fax: (216) 241-2824
         E-mail: cwick@hahnlaw.com

              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.


WALTER ENERGY: Wants KMPG to Prepare Federal State Tax Returns
--------------------------------------------------------------
Walter Energy, Inc., et al., notified the U.S. Bankruptcy Court for
the Northern District of Alabama that they had entered into an
additional engagement letter for valuation services with KPMG LLP.

On Sept. 4, 2015, the Court authorized the Debtors to employ KPMG
as tax, valuation, accounting, and bankruptcy administration
advisors nunc pro tunc to the Petition Date.  The additional
engagement letter provides that KMPG will prepare federal state tax
returns and supporting schedules for Walter's 2015 tax year.

A full-text copy of the engagement letter is available for free at
http://bankrupt.com/misc/WalterEnergy_1598_KPMGadd'lserv.pdf

                         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.


WOOD RESOURCE: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Wood Resource Recovery, L.L.C.
        6241 NW 23rd St., Suite 501A
        Gainesville, FL 32653

Case No.: 16-10014

Chapter 11 Petition Date: January 28, 2016

Court: United States Bankruptcy Court
       Northern District of Florida (Gainesville)

Judge: Hon. Karen K. Specie

Debtor's Counsel: Seldon J. Childers, Esq.
                  CHILDERSLAW, LLC
                  2135 N.W. 40th Terrace, Suite B
                  Gainesville, FL 32605
                  Tel: 866-996-6104
                  Fax: 407-209-3870
                  Email: jchilders@smartbizlaw.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by William G. Gaston, III, president/CEO.

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


WORLDWIDE TRANSPORTATION: Files for Chapter 11 Bankr. Protection
----------------------------------------------------------------
Worldwide Transportation Services Inc. filed for Chapter 11
bankruptcy protection (Bankr. S.D. Fla. Case No. 16-11136) on Jan.
26, 2016, estimating its assets and liabilities at between $1
million and $10 million.  The petition was signed by Ali A. Malek,
president.

The Company was operating as usual and continuing to provide
service to its clients, Brian Bandell at South Florida Business
Journal reports, citing Eyal Berger, Esq., at Akerman LLP serves,
the Company's bankruptcy counsel.

Mr. Berger, according to the report, said that he'll present a plan
in Court to sell the assets to the Company.

Judge Laurel M Isicoff presides over the case.

Worldwide Transportation Services Inc. is headquartered in Miami
Lakes, Florida.  It provides old school chauffeurs with luxury
vehicles.


ZLOOP INC: Has Until March 6 to File Ch. 11 Plan
------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware extended the exclusive plan filing date of ZLoop, Inc.,
et al., through and including March 6, 2016, and the exclusive
solicitation period through and including May 6, 2016.

According to the Debtors, there are a number of issues that must
develop or be resolved before they will be at a point where they
could develop and propose a plan of reorganization and negotiate
with their various constituencies respecting plan issues.  The
Debtors assure the Court that they are not seeking an extension of
exclusivity to delay the administration of their bankruptcy cases
or to pressure creditors into acceding to a plan that they find
unsatisfactory.  Rather, the Debtors say, the extension of
exclusivity will ensure that their continuing efforts to maximize
the value of their estates are not negatively impacted by the need
to file a Chapter 11 plan before a viable sale or exit financing
arrangement is identified and developed and the Debtors have an
opportunity to garner the support of their creditors.

                         About ZLOOP, Inc.

ZLOOP, Inc., and two affiliates sought Chapter 11 protection
(Bankr. D. Del. Case No. 15-11660) on Aug. 9, 2015.  

ZLOOP operates a proprietary, state of the art, 100% landfill free
eWaste recycling company headquartered in Hickory, North Carolina.

The Debtors tapped DLA Piper LLP as counsel.

As of the Petition Date, the Debtors' unaudited consolidated
balance sheet reflect total assets of approximately $25 million,
including the land and improvements, but excluding certain
commodity inventories that are the output of eWaste recycling, and
total liabilities of approximately $32 million.

On Sept. 2, 2015, the U.S. trustee overseeing the Debtors' Chapter
11 cases appointed Recycling Equipment Inc., E Recycling Systems
LLC and Carolina Metals Group to serve on the official committee
of unsecured creditors.  The committee is represented by Cole
Schotz P.C.


[*] Dorsey & Whitney Bags Two M&A Advisor Turnaround Awards
-----------------------------------------------------------
Dorsey & Whitney disclosed that the firm is the recipient of two
awards at the 10th Annual M&A Advisor Turnaround Awards.  Dorsey &
Whitney LLP was named a winner in the following categories:

     -- Mining Deal of the Year (Acquisition of Assets of Veris
        Gold U.S.A., Inc.)

     -- Cross-Border Restructuring Deal of the Year -- Up to
        $100MM (Acquisition of Assets of Veris Gold by Whitebox
        Advisors LLC).

Dorsey represented JCM Holdings III Limited, an affiliate of
Jerritt Canyon Gold LLC, in the purchase out of bankruptcy of Elko
County, Nevada gold mines from Veris Gold U.S.A., Inc.  The
multi-office, multi-disciplinary Dorsey team was led by Partners
William Prince, Wells Parker and Annette Jarvis.  The Dorsey team
also included Partners Ken Sam, Thomas Kelly, John Hollinrake,
Michael Voves, and Michael Thomson, Of Counsel Richard Manner,
Associates Heath Waddington, Megan Baker, Aaron Goldstein, Spencer
Kirton, and Senior Paralegal Kathryn Shelton.

"This transaction involved so many of Dorsey's strengths including
mining, bankruptcy, and real estate," said Dorsey & Whitney
Managing Partner Ken Cutler.  "The recognition is much deserved."

Since 2002, M&A Advisor has been honoring the leading turnaround
transactions, companies and dealmakers.  

                  About Dorsey & Whitney LLP

With locations across the United States and in Canada, Europe and
the Asia-Pacific region, Dorsey provides an integrated, proactive
approach to its clients' legal and business needs.  Dorsey
represents a number of the world's most successful companies from a
wide range of industries, including leaders in the banking, energy,
food and agribusiness, health care, mining and natural resources,
and public-private project development sectors, as well as major
non-profit and government entities.


[*] Fitch Says Repricing of Risk Evident in 2015 for Finance Market
-------------------------------------------------------------------
Mounting liquidity fears, slowing global growth concerns, falling
commodity prices, and equity market volatility have resulted in a
repricing of risk in the high-yield bond and leveraged loan
markets, particularly at the lower end of the rating spectrum,
according to Fitch Ratings' new 'U.S. Leveraged Market Quarterly
(Fourth-Quarter 2015)' report.

The repricing of risk stunted activity in the second-half of 2015
as high-yield bond issuance totaled only $78 billion compared to
$174 billion in the first half of 2015. High-yield bond issuance
was pressured in particular by the decline in deals from riskier
credits. 'CCC' debt only represented 5% of issuance in
fourth-quarter 2015 compared to 20% in fourth-quarter 2014.

The option-adjusted spread (OAS) on the BofAML U.S. High Yield 'CCC
& Lower' Index (CCC Index) has widened to levels not seen since
June 2009 as investors have exited the riskiest tranches of debt
while spreads for the BofAML U.S. High Yield 'BB' Index (BB Index)
are only marginally wider. As of Friday, Jan. 22, 2016, the OAS for
the CCC Index was 1,812 bps compared to an average of 981 bps the
last six years. The OAS for the BB Index was 497 bps Friday,
compared to an average of 388 bps the last six years.

Leveraged loan issuance has seen similar pressure in the
fourth-quarter. Fitch identified 23 deals that were pulled from the
primary during syndication as issuers reacted negatively to
investors demanding higher pricing and larger issue discounts.
October and November alone saw 10 deals, totaling approximately $5
billion in institutional loan volume, pulled from the market.
Pricing at the lower end of the rating spectrum has lacked investor
interest at current levels. Thirty-nine upward flexes were seen in
the fourth quarter compared to only nine downward flexes. For 'B'
credits, the average pricing on newly issued institutional term
loans increased 82 bps throughout the second half of 2015 to 487
bps.

As the market adjusts to increased risk premiums, we believe
leveraged credit fundamentals will remain largely unchanged from
what is currently reflected in our ratings and default
expectations. While high-yield bond and leveraged loan defaults are
forecasted to rise, pockets of risk remain mostly isolated to the
energy and metals/mining sectors.

This quarter's report also highlights Fitch's 2016 U.S. Corporates
Outlook. Industry fundamentals are broadly stable with 26 of 34
sectors assigned a Stable Outlook. However, with commodity prices
hovering around recent historical lows, four of the six negative
sector outlooks are in commodities-related areas: Oil & Gas,
Midstream Services, Oilfield Services & Mining.



[*] Moody's Reviews Energy Cos. in EMEA Region for Downgrade
------------------------------------------------------------
Moody's Investors Service placed the ratings of 32 integrated oil,
exploration and production (E&P), and oilfield services companies
in the EMEA region 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.  Moody's sees 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.  Moody's 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.

List of Affected Ratings:

On Review for Downgrade:

Issuer: Ithaca Energy Inc.

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B3-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B3
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently Caa2

Issuer: EnQuest plc

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B3-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B3
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently Caa2

Issuer: Tullow Oil plc

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B2-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B2
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently Caa1

Issuer: Nostrum Oil & Gas Plc

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B2-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B2

Issuer: Zhaikmunai LLP

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently B2

Issuer: OAO Novatek

  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1

Issuer: Novatek Finance Limited

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Ba1
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently Ba1

Issuer: RussNeft

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B2-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B2

Issuer: Borets Finance Limited

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently B1

Issuer: Borets International Ltd

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B1

Issuer: C.A.T. Oil AG

  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba3

Issuer: IG Seismic Services Plc

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B2-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B2

Issuer: Neftserviceholding LLC

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B1

Issuer: KCA Deutag Alpha Ltd

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B3-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B3
  Senior Secured Bank Credit Facility, Placed on Review for
   Downgrade, currently B3

Issuer: Globe Luxembourg SCA

  Senior Secured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently B3

Issuer: KCA DEUTAG UK Finance plc

  BACKED Senior Secured Regular Bond/Debenture, Placed on Review
   for Downgrade, currently B3

Issuer: Petroleum Geo-Services ASA

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B1
  Senior Secured Bank Credit Facility, Placed on Review for
   Downgrade, currently B1
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently B1

Issuer: Bibby Offshore Services Plc

  BACKED Senior Secured Regular Bond/Debenture, Placed on Review
   for Downgrade, currently B3

Issuer: Bibby Offshore Holdings Ltd

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B3-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B3

Issuer: Welltec A/S

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B1
  Senior Secured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently B1

Issuer: Seadrill Partners LLC

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B2-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B2

Issuer: Seadrill Operating LP

  BACKED Senior Secured Bank Credit Facility, Placed on Review for

   Downgrade, currently B2
  BACKED Senior Secured Bank Credit Facility, Placed on Review for

   Downgrade, currently Ba2

Issuer: Shelf Drilling Midco, Ltd.

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B1
  Senior Secured Bank Credit Facility, Placed on Review for
   Downgrade, currently B2

Issuer: Shelf Drilling Holdings, Ltd.

  Senior Secured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently B1

Issuer: Topaz Energy and Marine Limited

  Probability of Default Rating, Placed on Review for Downgrade,
   currently B2-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently B2

Issuer: Topaz Marine S.A.

  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently B3

Issuer: Gazprom, PJSC

  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1

Issuer: Gaz Capital S.A.

  Senior Unsecured Medium-Term Note Program, Placed on Review for
   Downgrade, currently (P)Ba1
  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Ba1
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently Ba1

Issuer: OOO Gazprom Capital

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Ba1

Issuer: Gazprom Neft PJSC

  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1

Issuer: GPN Capital S.A.

  BACKED Senior Unsecured Medium-Term Note Program, Placed on
   Review for Downgrade, currently (P)Ba1
  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Ba1

Issuer: OJSC Oil Company Rosneft

  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1

Issuer: Rosneft Finance S.A.

  BACKED Senior Unsecured Medium-Term Note Program, Placed on
   Review for Downgrade, currently (P)Ba1
  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Ba1

Issuer: Rosneft International Finance Limited

  BACKED Senior Unsecured Medium-Term Note Program, Placed on
   Review for Downgrade, currently (P)Ba1
  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Ba1

Issuer: Rosneft International Holdings Limited

  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1

Issuer: Bashneft

  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1

Issuer: KazMunayGas NC JSC

  Issuer Rating, Placed on Review for Downgrade, currently Baa3
  Senior Unsecured Medium-Term Note Program, Placed on Review for
   Downgrade, currently (P)Baa3
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently Baa3

Issuer: KazMunaiGaz Finance Sub B.V.

  BACKED Senior Unsecured Medium-Term Note Program, Placed on
   Review for Downgrade, currently (P)Baa3
  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Baa3

Issuer: State Oil Company of the Azerbaijan Republic

  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently Ba1

Issuer: Tatneft PJSC

  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1

Issuer: LUKOIL International Finance B.V.

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Ba1

Issuer: Lukoil, PJSC

  Probability of Default Rating, Placed on Review for Downgrade,
   currently Ba1-PD
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Ba1

Issuer: BP p.l.c.

  Issuer Rating, Placed on Review for Downgrade, currently A2
  BACKED Senior Unsecured Revenue Bonds supported by BP p.l.c.,
   Placed on Review for Downgrade, currently A2
  BACKED Senior Unsecured Revenue Bonds supported by BP p.l.c.,
   Placed on Review for Downgrade, currently VMIG 1
  BACKED Senior Unsecured Revenue Bonds supported by BP p.l.c.,
   Placed on Review for Downgrade, currently P-1
  BACKED Revenue Bonds supported by BP p.l.c., Placed on Review
   for Downgrade, currently A2
  BACKED Revenue Bonds supported by BP p.l.c., Placed on Review
   for Downgrade, currently P-1

Issuer: Atlantic Richfield Company

  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently A2
  BACKED Revenue Bonds supported by Atlantic Richfield Company,
   Placed on Review for Downgrade, currently A2
  BACKED Senior Unsecured Revenue Bonds supported by Atlantic
   Richfield Company, Placed on Review for Downgrade, currently A2
  BACKED Senior Unsecured Revenue Bonds supported by Atlantic
   Richfield Company, Placed on Review for Downgrade, currently
   VMIG 1
  BACKED Senior Unsecured Revenue Bonds supported by Atlantic
   Richfield Company, Placed on Review for Downgrade, currently
   P-1

Issuer: BP AMI Leasing, Inc.

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently A2

Issuer: BP Capital Markets America Inc

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently A2

Issuer: BP Capital Markets plc

  BACKED Senior Unsecured Commercial Paper, Placed on Review for
   Downgrade, currently P-1
  BACKED Senior Unsecured Medium-Term Note Program, Placed on
   Review for Downgrade, currently (P)A2
  BACKED Senior Unsecured Medium-Term Note Program, Placed on
   Review for Downgrade, currently (P)P-1
  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently A2
  BACKED Senior Unsecured Shelf, Placed on Review for Downgrade,
   currently (P)A2

Issuer: BP Corporation North America, Inc.

  Issuer Rating, Placed on Review for Downgrade, currently Baa1
  BACKED Senior Unsecured Commercial Paper, Placed on Review for
   Downgrade, currently P-1

Issuer: BP Finance Plc

  Issuer Rating, Placed on Review for Downgrade, currently A3

Issuer: Standard Oil Company

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently A2

Issuer: eni finance international SA

  BACKED Senior Unsecured Medium-Term Note Program Placed on
   Review for Downgrade, currently (P)A3
  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently A3

Issuer: ENI S.p.A.

  Issuer Rating, Placed on Review for Downgrade, currently A3
  Senior Unsecured Medium-Term Note Program (Local Currency),
   Placed on Review for Downgrade, currently (P)A3
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently A3

Issuer: Eni USA Inc.

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Baa1

Issuer: OMV AG

  Issuer Rating, Placed on Review for Downgrade, currently A3
  Issuer Rating, Placed on Review for Downgrade, currently A3
  Junior Subordinated Regular Bond/Debenture, Placed on Review for

   Downgrade, currently Baa3
  Senior Unsecured Medium-Term Note Program, Placed on Review for
   Downgrade, currently (P)A3
  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently A3

Issuer: Repsol S.A.

  Issuer Rating, Placed on Review for Downgrade, currently Baa2

Issuer: Repsol International Finance B.V.

  BACKED Junior Subordinated Regular Bond/Debenture, Placed on
   Review for Downgrade, currently Ba1
  BACKED Senior Unsecured Commercial Paper, Placed on Review for
   Downgrade, currently P-2
  BACKED Senior Unsecured Medium-Term Note Program, Placed on
   Review for Downgrade, currently (P)P-2
  BACKED Senior Unsecured Medium-Term Note Program, Placed on
   Review for Downgrade, currently (P)Baa2
  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Baa2
  BACKED Senior Unsecured Shelf, Placed on Review for Downgrade,
   currently (P)Baa2

Issuer: Talisman Energy Inc.

  Multiple Seniority Shelf, Placed on Review for Downgrade,
   currently (P)Baa3

  Senior Unsecured Regular Bond/Debenture, Placed on Review for
   Downgrade, currently Baa3

Issuer: Intergas Central Asia

  Issuer Rating, Placed on Review for Downgrade, currently Baa3

Issuer: Intergas Finance B.V.

  BACKED Senior Unsecured Regular Bond/Debenture, Placed on Review

   for Downgrade, currently Baa3

Issuer: JSC KazTransGas

  Issuer Rating, Placed on Review for Downgrade, currently Baa3

Issuer: JSC KazTransOil

  Issuer Rating, Placed on Review for Downgrade, currently Baa3
  Corporate Family Rating, Placed on Review for Downgrade,
   currently Baa3

Affirmations:

Issuer: eni finance international SA
  BACKED Senior Unsecured Commercial Paper, Affirmed P-2

Issuer: Eni Finance USA Inc.
  BACKED Senior Unsecured Commercial Paper, Affirmed P-2

Issuer: ENI S.p.A.
  Senior Unsecured Commercial Paper, Affirmed P-2

Outlook Actions:
Issuer: Ithaca Energy Inc.
  Outlook, Changed To Rating Under Review From Negative

Issuer: EnQuest plc
  Outlook, Changed To Rating Under Review From Negative

Issuer: Tullow Oil plc
  Outlook, Changed To Rating Under Review From Negative

Issuer: Nostrum Oil & Gas Plc
  Outlook, Changed To Rating Under Review From Negative

Issuer: Zhaikmunai LLP
  Outlook, Changed To Rating Under Review From Negative

Issuer: OAO Novatek
  Outlook, Changed To Rating Under Review From Stable

Issuer: Novatek Finance Limited
  Outlook, Changed To Rating Under Review From Stable

Issuer: RussNeft
  Outlook, Changed To Rating Under Review From Negative

Issuer: Borets Finance Limited
  Outlook, Changed To Rating Under Review From Stable

Issuer: Borets International Ltd
  Outlook, Changed To Rating Under Review From Stable

Issuer: C.A.T. Oil AG
  Outlook, Changed To Rating Under Review From Stable

Issuer: IG Seismic Services Plc
  Outlook, Changed To Rating Under Review From Negative

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

Issuer: KCA Deutag Alpha Ltd
  Outlook, Changed To Rating Under Review From Negative

Issuer: Globe Luxembourg SCA
  Outlook, Changed To Rating Under Review From Negative

Issuer: KCA DEUTAG UK Finance plc
  Outlook, Changed To Rating Under Review From Negative

Issuer: Petroleum Geo-Services ASA
  Outlook, Changed To Rating Under Review From Negative

Issuer: Bibby Offshore Holdings Ltd
  Outlook, Changed To Rating Under Review From Negative

Issuer: Bibby Offshore Services Plc
  Outlook, Changed To Rating Under Review From Negative

Issuer: Welltec A/S
  Outlook, Changed To Rating Under Review From Stable

Issuer: Seadrill Partners LLC
  Outlook, Changed To Rating Under Review From Negative

Issuer: Seadrill Operating LP
  Outlook, Changed To Rating Under Review From Negative

Issuer: Shelf Drilling Midco, Ltd.
  Outlook, Changed To Rating Under Review From Negative

Issuer: Shelf Drilling Holdings, Ltd.
  Outlook, Changed To Rating Under Review From Negative

Issuer: Topaz Energy and Marine Limited
  Outlook, Changed To Rating Under Review From Stable

Issuer: Topaz Marine S.A.
  Outlook, Changed To Rating Under Review From Stable

Issuer: Gazprom, PJSC
  Outlook, Changed To Rating Under Review From Stable

Issuer: Gaz Capital S.A.
  Outlook, Changed To Rating Under Review From Stable

Issuer: OOO Gazprom Capital
  Outlook, Changed To Rating Under Review From Stable

Issuer: Gazprom Neft PJSC
  Outlook, Changed To Rating Under Review From Stable

Issuer: GPN Capital S.A.
  Outlook, Changed To Rating Under Review From Stable

Issuer: OJSC Oil Company Rosneft
  Outlook, Changed To Rating Under Review From Stable

Issuer: Rosneft Finance S.A.
  Outlook, Changed To Rating Under Review From Stable

Issuer: Rosneft International Finance Limited
  Outlook, Changed To Rating Under Review From Stable

Issuer: Rosneft International Holdings Limited
  Outlook, Changed To Rating Under Review From Stable

Issuer: Bashneft
  Outlook, Changed To Rating Under Review From Stable

Issuer: KazMunayGas NC JSC
  Outlook, Changed To Rating Under Review From Stable

Issuer: KazMunaiGaz Finance Sub B.V.
  Outlook, Changed To Rating Under Review From Stable

Issuer: State Oil Company of the Azerbaijan Republic
  Outlook, Changed To Rating Under Review From Stable

Issuer: Tatneft PJSC
  Outlook, Changed To Rating Under Review From Stable

Issuer: LUKOIL International Finance B.V.
  Outlook, Changed To Rating Under Review From Stable

Issuer: Lukoil, PJSC
  Outlook, Changed To Rating Under Review From Stable

Issuer: BP p.l.c.
  Outlook, Changed To Rating Under Review From Positive

Issuer: Atlantic Richfield Company
  Outlook, Changed To Rating Under Review From Positive

Issuer: BP AMI Leasing, Inc.
  Outlook, Changed To Rating Under Review From Positive

Issuer: BP Capital Markets America Inc
  Outlook, Changed To Rating Under Review From Positive

Issuer: BP Capital Markets plc
  Outlook, Changed To Rating Under Review From Positive

Issuer: BP Corporation North America, Inc.
  Outlook, Changed To Rating Under Review From Positive

Issuer: BP Finance Plc
  Outlook, Changed To Rating Under Review From Positive

Issuer: BP Company North America Inc.
  Outlook, Changed To Rating Under Review From Positive

Issuer: Standard Oil Company
  Outlook, Changed To Rating Under Review From Positive

Issuer: eni finance international SA
  Outlook, Changed To Rating Under Review From Stable

Issuer: ENI S.p.A.
  Outlook, Changed To Rating Under Review From Stable

Issuer: Eni USA Inc.
  Outlook, Changed To Rating Under Review From Stable

Issuer: OMV AG
  Outlook, Changed To Rating Under Review From Stable

Issuer: Repsol S.A.
  Outlook, Changed To Rating Under Review From Negative

Issuer: Repsol International Finance B.V.
  Outlook, Changed To Rating Under Review From Negative

Issuer: Talisman Energy Inc.
  Outlook, Changed To Rating Under Review From Negative

Issuer: Intergas Central Asia
  Outlook, Changed To Rating Under Review From Stable

Issuer: Intergas Finance B.V.
  Outlook, Changed To Rating Under Review From Stable

Issuer: JSC KazTransGas
  Outlook, Changed To Rating Under Review From Stable

Issuer: JSC KazTransOil
  Outlook, Changed To Rating Under Review From Stable

The principal methodology used in rating JSC KazTransOil was Global
Midstream Energy published in December 2010.  Other methodologies
used include the Government-Related Issuers methodology published
in October 2014.

The principal methodology used in rating JSC KazTransGas, Intergas
Central Asia and Intergas Finance B.V. was Natural Gas Pipelines
published in November 2012.  Other methodologies used include the
Government-Related Issuers methodology published in October 2014.

The principal methodology used in rating OJSC Oil Company Rosneft,
Rosneft Finance S.A., Rosneft International Finance Limited,
Rosneft International Holdings Limited, Gazprom, PJSC, Gaz Capital
S.A., OOO Gazprom Capital, Bashneft, Tatneft PJSC, State Oil
Company of the Azerbaijan Republic, KazMunayGas NC JSC and
KazMunaiGaz Finance Sub B.V. was Global Integrated Oil & Gas
Industry published in April 2014.  Other methodologies used include
the Government-Related Issuers methodology published in October
2014.

The principal methodology used in rating BP p.l.c., Atlantic
Richfield Company, BP AMI Leasing, Inc., BP Capital Markets America
Inc, BP Capital Markets plc, BP Corporation North America, Inc, BP
Finance Plc, BP Company North America Inc., Standard Oil Company,
Repsol S.A., Repsol International Finance B.V., Talisman Energy
Inc., OMV AG, ENI S.p.A., Eni Finance USA Inc., Eni USA Inc, eni
finance international SA, Gazprom Neft PJSC, GPN Capital S.A.,
Lukoil, PJSC and LUKOIL International Finance B.V. was Global
Integrated Oil & Gas Industry published in April 2014.

The principal methodology used in rating Ithaca Energy Inc., Tullow
Oil plc, EnQuest plc, RussNeft, OAO Novatek, Novatek Finance
Limited, Nostrum Oil & Gas Plc, Zhaikmunai LLP was Global
Independent Exploration and Production Industry published in
December 2011.

The principal methodology used in rating Petroleum Geo-Services
ASA, KCA Deutag Alpha Ltd, Globe Luxembourg SCA, KCA DEUTAG UK
Finance plc, Bibby Offshore Services Plc, Bibby Offshore Holdings
Ltd, Welltec A/S, Seadrill Partners LLC, Seadrill Operating LP,
Topaz Energy and Marine Limited, Topaz Marine S.A., Shelf Drilling
Midco, Ltd., Shelf Drilling Holdings, Ltd., Neftserviceholding LLC,
Borets International Ltd, Borets Finance Limited, C.A.T. Oil AG and
IG Seismic Services Plc was Global Oilfield Services Industry
Rating Methodology published in December 2014.

The local market analyst for Topaz Energy and Marine Limited, Topaz
Marine S.A., Shelf Drilling Midco, Ltd. and Shelf Drilling
Holdings, Ltd. ratings of is Julien Haddad, 9714-237-9539.



[*] Moody's Takes Rating Actions on Five US Mortgage Insurers
-------------------------------------------------------------
Moody's Investors Service has taken rating actions on five US
mortgage insurers. It has upgraded the insurance financial strength
ratings of Mortgage Guaranty Insurance Corporation and Radian
Guaranty Inc. by one notch to Baa3 with a stable outlook, and
affirmed the insurance financial strength ratings of Essent
Guaranty, Inc. (Baa2), Arch Mortgage Insurance Company (Baa1), and
National Mortgage Insurance Corporation (Ba2), all with a stable
outlook.

RATINGS RATIONALE

SECTOR RATIONALE

Moody's rating actions were prompted by the introduction of Fannie
Mae and Freddie Mac's ("the GSEs") new Private Mortgage Insurer
Eligibility Requirements ("PMIERS"), which came into effect on 31
December 2015. Among other rules, the PMIERS require US mortgage
insurers to hold a minimum level of liquid assets based on the
riskiness of the mortgages that they insure. Moody's believes that
the PMIERS will improve protection for beneficiaries (GSEs and
investors in insured mortgages) and debt holders of the US mortgage
insurers. While official compliance will not be certified until
March 2016, Moody's expects all of its rated US mortgage insurers
to comply with the PMIERS as of the effective date.

As part of this action, Moody's has changed its industry outlook on
the US mortgage insurance sector to stable from positive now that
PMIERS compliance has been achieved on the effective date.
Moreover, the shift from a positive to stable outlook reflects both
cyclical and more persistent challenges that limit further positive
pressure on this sector. Moody's expects more competition within
the crowded mortgage insurance market in the next 12-18 months.

Moody's believes that the average rating in the US mortgage
insurance sector should currently be in the Baa range, lower than
that of other insurance sectors such as property-casualty and life
insurance. In its 58-year modern history, the sector has made
almost no money on a cumulative basis. "We believe that US mortgage
insurers represent a very small part of the mortgage origination
value chain and operate in a commodity business whose fortunes are
greatly influenced by lenders, the GSEs, public policy decisions,
and other uncontrollable variables," said Kevin Lee, an analyst for
mortgage insurers. Moreover, Moody's believes that the sector is
still fighting to restore its market credibility after the 2007-08
financial crisis.

Moody's also notes that mortgage insurance presents risk
characteristics that have historically posed challenges to
insurers. Unlike many other insurance lines, the law of large
numbers does not readily apply to mortgage insurance because the
exposures are less independent and are subject to serial
correlation from one year to the next.

COMPANY RATIONALE

Radian Guaranty Inc. ("Radian Guaranty", upgrade to Baa3 stable
(from Ba1 positive)): The one notch upgrade of Radian Guaranty
reflects: (a) its compliance with the PMIERS, helped by its
previous sale of Radian Asset Assurance, Inc., (b) its recent
actions to spread out its debt maturity profile to alleviate
pressures on holding company liquidity, and (c) its historical
market leadership alongside United Guaranty and MGIC. That said,
the parent's significant debt burden (~33% adjusted debt-to-capital
as of 12/31/15) and an unresolved IRS tax dispute continue to weigh
on Radian Guaranty's rating. The IRS dispute revolves around legacy
real estate mortgage investment conduits ("REMICs").

Mortgage Guaranty Insurance Corporation ("MGIC", upgrade to Baa3
stable (from Ba1 positive)): The one notch upgrade of MGIC
reflects: (a) its compliance with the PMIERS, (b) its improving
holding company liquidity, and (c) its historical market leadership
alongside United Guaranty and Radian. Similar to Radian Guaranty,
MGIC's rating continues to be weighed down by its parent's
significant debt burden (~36% adjusted debt-to-capital as of
12/31/15) and a similar IRS tax dispute. The parent has recently
started to repurchase the 2017 senior convertible notes and
estimates that it will have enough liquidity to repay the 2017
notes even if it doesn't refinance the securities or is unable to
get a special dividend from its MGIC subsidiary.

Essent Guaranty, Inc. ("EGI", affirm Baa2 and change outlook to
stable from positive): The affirmation of EGI's Baa2 financial
strength is based on its lack of legacy exposures and its ability
to gain traction as a newer entrant. EGI started writing business
in 2010 and hence has no pre-2009 legacy exposures, facilitating
compliance with the PMIERS (the PMIER risk charges are relatively
high for pre-2009 vintage years). The change in outlook to stable
from positive reflects Moody's current view of sector dynamics
(resulting in the changing of Moody's industry outlook to stable
from positive) and EGI's customer (lender) base, which is more
concentrated than that of some insurers. While EGI has been able to
gain traction in market share and diversify its customers, it still
trails United Guaranty, Radian, and MGIC in these areas by a wide
margin.

Arch Mortgage Insurance Company ("Arch MI", affirm Baa1 stable):
The affirmation of Arch MI's Baa1 financial strength is based on
good support from its corporate parent (Arch Capital Group Ltd.),
including access to additional capital if needed. Arch MI was
founded in January 2014 when Arch Capital Group acquired CMG
Mortgage Insurance Company and certain assets from an insurer in
regulatory receivership. Its PMIER compliance was facilitated by
negligible legacy exposures. Arch MI benefits from a reinsurance
agreement with an 'A1' rated property-casualty sister company. Its
Baa1 rating is based on: (a) a Baa3 standalone credit assessment,
and (b) two notches of uplift due to implicit and explicit support
from its ultimate parent. Although Arch MI has a diverse customer
base of credit unions, it currently has the lowest market share in
the sector and has yet to achieve scale.

National Mortgage Insurance Corporation ("NMIC", affirm Ba2
stable): The affirmation of NMIC's Ba2 financial strength is based
on its compliance with the PMIERS. Moody's rationale for the rating
has not changed since the initial rating assignment in November
2015, and reflects the company's startup status, and its need for
growth and additional capital to justify its cost structure and
achieve critical scale. While Moody's believes additional funding
and growth can be attained, it sees significant uncertainties
related to both, in part due to NMIC's late entry into a crowded
mortgage insurance market as the high-cost producer. Moreover,
Moody's base case projections suggest that the company will not
earn its cost of capital until 2018 or later.

Moody's added that Genworth Mortgage Insurance Corp. (Ba1, review
up) and United Guaranty Residential Insurance Co. (Baa1, review
down) were not part of the rating action.

WHAT COULD MOVE THE RATINGS UP OR DOWN

Moody's sees the sector as a highly competitive business in which
companies' fortunes tend to move in lockstep. As such, an
improvement in the sector's credibility with stakeholders, a better
track record, or public policy decisions that work materially in
favor of mortgage insurers could provide upward rating pressure on
this sector. Conversely, public policy decisions that work against
the sector or widespread price competition in an effort to purchase
market share could provide downward rating pressure on this
sector.

In addition, the following rating drivers apply to individual
companies:

Radian Guaranty Inc.: The following factors could lead to an
upgrade: (a) better alignment of the parent's debt maturity profile
to Radian Guaranty's expected dividend capacity and/or reduction of
debt at the parent; (b) comfortable compliance with PMIERS; (c)
more clarity about the range of potential outcomes in the group's
tax dispute with the IRS. The following factors could lead to a
downgrade: (a) non-compliance with PMIERS; (b) deterioration in the
parent company's ability to meet its debt service requirements; (c)
an adverse outcome on the IRS tax dispute that is significantly
beyond the amount that has already been placed on deposit or held
in reserves.

MGIC: The following factors could lead to an upgrade: (a)
noteholders convert their convertible notes to common shares; (b)
better alignment of the parent's debt maturity profile to MGIC's
expected dividend capacity and/or reduction of debt at the parent;
(c) comfortable compliance with PMIERS; (d) more clarity about the
range of potential outcomes in the group's tax dispute with the
IRS. The following factors could lead to a downgrade: (a)
non-compliance with PMIERS; (b) deterioration in the parent
company's ability to meet its debt service requirements; (c) an
adverse outcome on the IRS tax dispute that is significantly beyond
the amount that has already been placed on deposit or held in
reserves.

Essent Guaranty, Inc.: The following factors could lead to an
upgrade: (a) stronger market presence and broader client base on
par with market leaders; (b) improved scaling of expense base; (c)
increased capitalization relative to exposures. The following
factors could lead to a downgrade: (a) non-compliance with PMIERs;
(b) significant weakening of underwriting standards or pricing; (c)
debt-to-capital ratio above 20%.

Arch Mortgage Insurance Company: The following factors could lead
to an upgrade: (a) ability to grow to scale and be on a clear
trajectory towards a sub-70 combined ratio; (b) stronger
capitalization, or a greater degree of support from Arch Capital or
its affiliated entities. The following factors could lead to a
downgrade: (a) failure to grow to scale; (b) termination of the
reinsurance agreement with Arch Reinsurance Ltd.; (c) a downgrade
of Arch Capital or lower implicit support from the group; (d)
non-compliance with PMIERS.

National Mortgage Insurance Corp.: The following factors could lead
to an upgrade: (a) improved likelihood of attaining scale relative
to its cost structure; (b) success in accessing capital to fund
growth (in addition to the existing $150 million term loan); (c)
comfortable compliance with PMIERs going forward. The following
factors could lead to a downgrade: (a) failure to grow and attain
scale; (b) inability to access enough capital to fund required
growth; (c) non-compliance with PMIERs; (d) significant discounting
of prices to buy market share; (e) debt-to-capital ratio above
35%.

LIST OF AFFECTED RATINGS

The following ratings have been upgraded with a stable outlook:

Radian Guaranty Inc. -- upgraded financial strength to Baa3;

Radian Group Inc. -- upgraded senior unsecured debt to Ba3;
provisional senior unsecured shelf to (P)Ba3; provisional senior
subordinate shelf to (P)B1; provisional subordinate shelf to (P)B1;
provisional preferred shares shelf to (P)B2; provisional preferred
non-cumulative shares shelf to (P)B2.

Radian Mortgage Assurance Inc. -- upgraded financial strength to
Baa3. Moody's will subsequently withdraw the credit rating for its
own business reasons. Please refer to Moody's Investors Service's
Withdrawal Policy, which can be found on our website,
www.moodys.com.

Mortgage Guaranty Insurance Corporation -- upgraded financial
strength to Baa3.

MGIC Indemnity Corporation -- upgraded financial strength to Baa3.

MGIC Investment Corporation -- upgraded junior subordinate debt to
B1 (hyb).

The following ratings have been affirmed with a stable outlook:

Essent Guaranty, Inc. -- financial strength at Baa2.

Arch Mortgage Insurance Company -- financial strength at Baa1.

National Mortgage Insurance Corporation -- financial strength at
Ba2.

NMI Holdings, Inc -- senior secured term loan at B2.



[^] BOND PRICING: For the Week from January 25 to 29, 2016
----------------------------------------------------------
  Company                   Ticker  Coupon Bid Price   Maturity
  -------                   ------  ------ ---------   --------
99 Cents Only Stores LLC    NDN     11.000    36.103 12/15/2019
A. M. Castle & Co           CAS     12.750    71.099 12/15/2016
A. M. Castle & Co           CAS      7.000    39.000 12/15/2017
A. M. Castle & Co           CAS     12.750    70.750 12/15/2016
A. M. Castle & Co           CAS     12.750    70.750 12/15/2016
ACE Cash Express Inc        AACE    11.000    47.000   2/1/2019
ACE Cash Express Inc        AACE    11.000    46.500   2/1/2019
AV Homes Inc                AVHI     7.500    97.882  2/15/2016
Alpha Appalachia
  Holdings Inc              ANR      3.250     1.000   8/1/2015
Alpha Natural
  Resources Inc             ANR      6.000     0.260   6/1/2019
Alpha Natural
  Resources Inc             ANR      6.250     0.209   6/1/2021
Alpha Natural
  Resources Inc             ANR      7.500     1.000   8/1/2020
Alpha Natural
  Resources Inc             ANR      4.875     0.100 12/15/2020
Alpha Natural
  Resources Inc             ANR      3.750     0.500 12/15/2017
Alpha Natural
  Resources Inc             ANR      7.500     0.869   8/1/2020
Alpha Natural
  Resources Inc             ANR      7.500     0.869   8/1/2020
Alta Mesa Holdings LP /
  Alta Mesa Finance
  Services Corp             ALTMES   9.625    33.750 10/15/2018
American Eagle
  Energy Corp               AMZG    11.000     8.000   9/1/2019
American Eagle
  Energy Corp               AMZG    11.000     5.250   9/1/2019
American Energy-Permian
  Basin LLC / AEPB
  Finance Corp              AMEPER   7.125    27.000  11/1/2020
American Energy-Permian
  Basin LLC / AEPB
  Finance Corp              AMEPER   7.113    25.000   8/1/2019
American Energy-Permian
  Basin LLC / AEPB
  Finance Corp              AMEPER   7.125    28.625  11/1/2020
American Energy-Permian
  Basin LLC / AEPB
  Finance Corp              AMEPER   7.375    28.875  11/1/2021
American Energy-Permian
  Basin LLC / AEPB
  Finance Corp              AMEPER   7.113    26.041   8/1/2019
American Gilsonite Co       AMEGIL  11.500    51.500   9/1/2017
American Gilsonite Co       AMEGIL  11.500    61.250   9/1/2017
Approach Resources Inc      AREX     7.000    20.250  6/15/2021
Appvion Inc                 APPPAP   9.000    33.938   6/1/2020
Appvion Inc                 APPPAP   9.000    38.250   6/1/2020
Arch Coal Inc               ACI      7.000     0.700  6/15/2019
Arch Coal Inc               ACI      7.250     0.822  6/15/2021
Arch Coal Inc               ACI      8.000     0.875  1/15/2019
Arch Coal Inc               ACI      9.875     1.245  6/15/2019
Arch Coal Inc               ACI      8.000     5.030  1/15/2019
Ares Capital Corp           ARCC     5.750    99.500   2/1/2016
Armstrong Energy Inc        ARMS    11.750    36.033 12/15/2019
Armstrong Energy Inc        ARMS    11.750    41.875 12/15/2019
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp              ARP      7.750    15.000  1/15/2021
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp              ARP      9.250    16.000  8/15/2021
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp              ARP      9.250    16.500  8/15/2021
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp              ARP      9.250    16.500  8/15/2021
Avaya Inc                   AVYA    10.500    25.000   3/1/2021
Avaya Inc                   AVYA    10.500    29.290   3/1/2021
BPZ Resources Inc           BPZR     6.500     4.000   3/1/2015
BPZ Resources Inc           BPZR     8.500     4.000  10/1/2017
BPZ Resources Inc           BPZR     6.500     3.948   3/1/2049
Basic Energy Services Inc   BAS      7.750    26.875  2/15/2019
Basic Energy Services Inc   BAS      7.750    26.100 10/15/2022
Berry Petroleum Co LLC      LINE     6.375    20.000  9/15/2022
Berry Petroleum Co LLC      LINE     6.750    22.130  11/1/2020
BioMed Realty LP            BMR      6.125   110.131  4/15/2020
BioMed Realty LP            BMR      4.250    98.530  7/15/2022
Black Elk Energy Offshore
  Operations LLC /
  Black Elk Finance Corp    BLELK   13.750     2.600  12/1/2015
Bon-Ton Department
  Stores Inc/The            BONT    10.625    56.000  7/15/2017
Bon-Ton Department
  Stores Inc/The            BONT    10.625    57.250  7/15/2017
Bon-Ton Department
  Stores Inc/The            BONT    10.625    57.250  7/15/2017
BreitBurn Energy
  Partners LP /
  BreitBurn Finance Corp    BBEP     7.875    16.625  4/15/2022
BreitBurn Energy
  Partners LP /
  BreitBurn Finance Corp    BBEP     8.625    20.156 10/15/2020
BreitBurn Energy
  Partners LP /
  BreitBurn Finance Corp    BBEP     8.625    16.750 10/15/2020
BreitBurn Energy
  Partners LP /
  BreitBurn Finance Corp    BBEP     8.625    16.750 10/15/2020
CNG Holdings Inc            CNGHLD   9.375    41.000  5/15/2020
CNG Holdings Inc            CNGHLD   9.375    42.000  5/15/2020
Caesars Entertainment
  Operating Co Inc          CZR     10.000    31.250 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR     11.250    73.000   6/1/2017
Caesars Entertainment
  Operating Co Inc          CZR      6.500    30.593   6/1/2016
Caesars Entertainment
  Operating Co Inc          CZR     12.750    30.500  4/15/2018
Caesars Entertainment
  Operating Co Inc          CZR     10.000    32.500 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR      5.750    29.250  10/1/2017
Caesars Entertainment
  Operating Co Inc          CZR     10.000    31.625 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR      5.750    12.250  10/1/2017
Caesars Entertainment
  Operating Co Inc          CZR     10.000    32.000 12/15/2018
Caesars Entertainment
  Operating Co Inc          CZR     10.000    31.625 12/15/2018
California Resources Corp   CRC      6.000    19.000 11/15/2024
California Resources Corp   CRC      5.500    20.250  9/15/2021
California Resources Corp   CRC      5.000    20.000  1/15/2020
California Resources Corp   CRC      6.000    18.875 11/15/2024
California Resources Corp   CRC      5.000    35.750  1/15/2020
California Resources Corp   CRC      6.000    18.875 11/15/2024
California Resources Corp   CRC      5.000    20.125  1/15/2020
Cenveo Corp                 CVO     11.500    65.500  5/15/2017
Cenveo Corp                 CVO      7.000    54.875  5/15/2017
Chaparral Energy Inc        CHAPAR   9.875    19.190  10/1/2020
Chaparral Energy Inc        CHAPAR   7.625    20.430 11/15/2022
Chaparral Energy Inc        CHAPAR   8.250    18.000   9/1/2021
Chassix Holdings Inc        CHASSX  10.000     8.000 12/15/2018
Chassix Holdings Inc        CHASSX  10.000     8.000 12/15/2018
Chesapeake Energy Corp      CHK      3.250    93.077  3/15/2016
Chesapeake Energy Corp      CHK      6.500    48.500  8/15/2017
Chesapeake Energy Corp      CHK      3.872    26.750  4/15/2019
Chesapeake Energy Corp      CHK      6.625    26.925  8/15/2020
Chesapeake Energy Corp      CHK      7.250    37.188 12/15/2018
Chesapeake Energy Corp      CHK      6.125    28.000  2/15/2021
Chesapeake Energy Corp      CHK      2.500    47.500  5/15/2037
Chesapeake Energy Corp      CHK      6.875    28.245 11/15/2020
Chesapeake Energy Corp      CHK      5.375    26.692  6/15/2021
Chesapeake Energy Corp      CHK      2.500    47.375  5/15/2037
Chesapeake Energy Corp      CHK      2.250    32.000 12/15/2038
Chesapeake Energy Corp      CHK      2.750     5.000 11/15/2035
Chesapeake Energy Corp      CHK      6.875    27.250 11/15/2020
Claire's Stores Inc         CLE      8.875    19.795  3/15/2019
Claire's Stores Inc         CLE      7.750    15.000   6/1/2020
Claire's Stores Inc         CLE     10.500    44.720   6/1/2017
Claire's Stores Inc         CLE      7.750    17.500   6/1/2020
Clean Energy Fuels Corp     CLNE     5.250    42.109  10/1/2018
Cliffs Natural
  Resources Inc             CLF      5.950    20.613  1/15/2018
Cliffs Natural
  Resources Inc             CLF      5.900    15.250  3/15/2020
Cliffs Natural
  Resources Inc             CLF      6.250    15.500  10/1/2040
Cliffs Natural
  Resources Inc             CLF      4.875    14.400   4/1/2021
Cliffs Natural
  Resources Inc             CLF      7.750    20.000  3/31/2020
Cliffs Natural
  Resources Inc             CLF      4.800    13.009  10/1/2020
Cliffs Natural
  Resources Inc             CLF      7.750    16.800  3/31/2020
Community Choice
  Financial Inc             CCFI    10.750    34.050   5/1/2019
Comstock Resources Inc      CRK     10.000    38.750  3/15/2020
Comstock Resources Inc      CRK      7.750    11.875   4/1/2019
Comstock Resources Inc      CRK      9.500    11.750  6/15/2020
Comstock Resources Inc      CRK     10.000    39.000  3/15/2020
Cumulus Media
  Holdings Inc              CMLS     7.750    39.125   5/1/2019
DynCorp International Inc   DCP     10.375    71.075   7/1/2017
EPL Oil & Gas Inc           EXXI     8.250    10.040  2/15/2018
EV Energy Partners LP /
  EV Energy Finance Corp    EVEP     8.000    35.002  4/15/2019
EXCO Resources Inc          XCO      7.500    34.000  9/15/2018
EXCO Resources Inc          XCO      8.500    18.000  4/15/2022
Eagle Rock Energy
  Partners LP /
  Eagle Rock Energy
  Finance Corp              EROC     8.375    17.000   6/1/2019
Emerald Oil Inc             EOX      2.000    35.500   4/1/2019
Endeavour
  International Corp        END     12.000     1.017   3/1/2018
Endeavour
  International Corp        END     12.000     1.017   3/1/2018
Energy & Exploration
  Partners Inc              ENEXPR   8.000     2.809   7/1/2019
Energy & Exploration
  Partners Inc              ENEXPR   8.000     2.809   7/1/2019
Energy Conversion
  Devices Inc               ENER     3.000     7.875  6/15/2013
Energy Future
  Holdings Corp             TXU      9.750    36.000 10/15/2019
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc               TXU     10.000     3.250  12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc               TXU      9.750    33.000 10/15/2019
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc               TXU     10.000     3.125  12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc               TXU      6.875     2.875  8/15/2017
Energy XXI Gulf Coast Inc   EXXI    11.000    24.882  3/15/2020
Energy XXI Gulf Coast Inc   EXXI     9.250    11.150 12/15/2017
Energy XXI Gulf Coast Inc   EXXI     7.500     6.500 12/15/2021
Energy XXI Gulf Coast Inc   EXXI     7.750     6.750  6/15/2019
Energy XXI Gulf Coast Inc   EXXI     6.875     5.500  3/15/2024
FBOP Corp                   FBOPCP  10.000     1.843  1/15/2009
FTS International Inc       FTSINT   6.250    19.000   5/1/2022
FairPoint
  Communications Inc/Old    FRP     13.125     1.879   4/2/2018
Federal Farm Credit Banks   FFCB     3.590   100.000 12/24/2029
Federal Farm Credit Banks   FFCB     2.950    99.860  12/4/2024
Federal Farm Credit Banks   FFCB     3.600    99.299   7/5/2030
Federal Home Loan Banks     FHLB     3.950   100.024  6/29/2035
Federal Home Loan Banks     FHLB     1.780   100.000  6/24/2019
Federal Home Loan
  Mortgage Corp             FHLMC    1.855    99.738  11/5/2020
Fleetwood Enterprises Inc   FLTW    14.000     3.557 12/15/2011
Forbes Energy
  Services Ltd              FES      9.000    40.640  6/15/2019
GT Advanced
  Technologies Inc          GTAT     3.000     0.500  10/1/2017
GT Advanced
  Technologies Inc          GTAT     3.000     0.303 12/15/2020
Gastar Exploration Inc      GST      8.625    50.250  5/15/2018
Goodman Networks Inc        GOODNT  12.125    34.474   7/1/2018
Goodrich Petroleum Corp     GDPM     8.875     1.050  3/15/2019
Goodrich Petroleum Corp     GDPM     8.875     4.375  3/15/2018
Goodrich Petroleum Corp     GDPM     5.000     2.000  10/1/2032
Goodrich Petroleum Corp     GDPM     5.000     0.600  10/1/2029
Goodrich Petroleum Corp     GDPM     8.875     3.063  3/15/2018
Goodrich Petroleum Corp     GDPM     8.875     1.039  3/15/2019
Goodrich Petroleum Corp     GDPM     8.875     1.039  3/15/2019
Gymboree Corp/The           GYMB     9.125    23.758  12/1/2018
Halcon Resources Corp       HKUS     9.750    15.000  7/15/2020
Halcon Resources Corp       HKUS     8.875    15.000  5/15/2021
Halcon Resources Corp       HKUS    13.000    26.000  2/15/2022
Halcon Resources Corp       HKUS     9.250    23.820  2/15/2022
Halcon Resources Corp       HKUS    13.000    26.000  2/15/2022
Hexion Inc                  HXN      7.875    25.400  2/15/2023
Hexion Inc                  HXN      9.200    28.250  3/15/2021
Horsehead Holding Corp      ZINC     3.800    14.938   7/1/2017
Horsehead Holding Corp      ZINC    10.500    57.750   6/1/2017
Horsehead Holding Corp      ZINC     9.000    20.000   6/1/2017
Horsehead Holding Corp      ZINC    10.500    55.750   6/1/2017
Horsehead Holding Corp      ZINC    10.500    55.750   6/1/2017
ION Geophysical Corp        IO       8.125    34.650  5/15/2018
Illinois Power
  Generating Co             DYN      7.000    51.740  4/15/2018
Interactive Network Inc /
  FriendFinder
  Networks Inc              FFNT    14.000    47.250 12/20/2018
James River Coal Co         JRCC     7.875     2.662   4/1/2019
James River Coal Co         JRCC     4.500     0.750  12/1/2015
James River Coal Co         JRCC     3.125     0.500  3/15/2018
Key Energy Services Inc     KEG      6.750    15.770   3/1/2021
Las Vegas Monorail Co       LASVMC   5.500     3.000  7/15/2019
Legacy Reserves LP /
  Legacy Reserves
  Finance Corp              LGCY     8.000    19.250  12/1/2020
Legacy Reserves LP /
  Legacy Reserves
  Finance Corp              LGCY     6.625    21.100  12/1/2021
Lehman Brothers
  Holdings Inc              LEH      4.000     5.500  4/30/2009
Lehman Brothers
  Holdings Inc              LEH      5.000     5.500   2/7/2009
Lehman Brothers Inc         LEH      7.500     3.750   8/1/2026
Light Tower Rentals Inc     LHTTWR   8.125    44.500   8/1/2019
Light Tower Rentals Inc     LHTTWR   8.125    44.000   8/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     8.625    15.635  4/15/2020
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.500    14.968  5/15/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     7.750    12.250   2/1/2021
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.250    12.500  11/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE    12.000    36.000 12/15/2020
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.500    11.500  9/15/2021
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.250    12.375  11/1/2019
Linn Energy LLC / Linn
  Energy Finance Corp       LINE     6.250    12.375  11/1/2019
Logan's Roadhouse Inc       LGNS    10.750    36.650 10/15/2017
MBIA Insurance Corp         MBI     11.882    26.750  1/15/2033
MBIA Insurance Corp         MBI     11.882    26.375  1/15/2033
MF Global Holdings Ltd      MF       6.250    22.125   8/8/2016
MF Global Holdings Ltd      MF       3.375    23.000   8/1/2018
MModal Inc                  MODL    10.750    10.125  8/15/2020
Magnetation LLC /
  Mag Finance Corp          MAGNTN  11.000     6.000  5/15/2018
Magnetation LLC /
  Mag Finance Corp          MAGNTN  11.000     6.375  5/15/2018
Magnetation LLC /
  Mag Finance Corp          MAGNTN  11.000     6.375  5/15/2018
Magnum Hunter
  Resources Corp            MHRC     9.750    26.000  5/15/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO     10.000    29.500   6/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO     10.750     6.000  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO      9.250     6.000   6/1/2021
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO     10.000    66.500   6/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO     10.750     4.876  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC          MPO     10.750     4.876  10/1/2020
Modular Space Corp          MODSPA  10.250    32.500  1/31/2019
Modular Space Corp          MODSPA  10.250    32.250  1/31/2019
Molycorp Inc                MCP     10.000    11.030   6/1/2020
Molycorp Inc                MCP      6.000     1.260   9/1/2017
Molycorp Inc                MCP      5.500     1.500   2/1/2018
Morgan Stanley & Co LLC     MS       2.412 #N/A N/A   2/28/2016
Murray Energy Corp          MURREN  11.250    14.000  4/15/2021
Murray Energy Corp          MURREN   9.500    16.500  12/5/2020
Murray Energy Corp          MURREN  11.250    13.750  4/15/2021
Murray Energy Corp          MURREN   9.500    16.500  12/5/2020
Navient Corp                NAVI     2.171    99.000  2/12/2016
Navistar
  International Corp        NAV      4.750    39.500  4/15/2019
Navistar
  International Corp        NAV      4.500    45.850 10/15/2018
New Enterprise Stone &
  Lime Co Inc               NEENST  11.000    57.500   9/1/2018
New Gulf Resources LLC/
  NGR Finance Corp          NGREFN  12.250     8.625  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp          NGREFN  12.250    23.500  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp          NGREFN  12.250    16.250  5/15/2019
Nine West Holdings Inc      JNY      8.250    23.000  3/15/2019
Nine West Holdings Inc      JNY      6.125    14.000 11/15/2034
Nine West Holdings Inc      JNY      6.875    15.000  3/15/2019
Nine West Holdings Inc      JNY      8.250    23.250  3/15/2019
Noranda Aluminum
  Acquisition Corp          NOR     11.000     9.700   6/1/2019
Nuverra Environmental
  Solutions Inc             NESC     9.875    15.330  4/15/2018
Peabody Energy Corp         BTU      6.000     8.250 11/15/2018
Peabody Energy Corp         BTU      6.500     5.891  9/15/2020
Peabody Energy Corp         BTU      6.250     5.901 11/15/2021
Peabody Energy Corp         BTU     10.000    10.000  3/15/2022
Peabody Energy Corp         BTU      7.875     5.750  11/1/2026
Peabody Energy Corp         BTU      4.750     3.250 12/15/2041
Peabody Energy Corp         BTU     10.000    11.500  3/15/2022
Peabody Energy Corp         BTU      6.000     9.625 11/15/2018
Peabody Energy Corp         BTU      6.000    17.250 11/15/2018
Peabody Energy Corp         BTU      6.250     5.625 11/15/2021
Peabody Energy Corp         BTU      6.250     5.625 11/15/2021
Penn Virginia Corp          PVAH     8.500    16.250   5/1/2020
Penn Virginia Corp          PVAH     7.250    13.920  4/15/2019
Performance Drilling
  Co LLC                    PERDRI   6.000     8.327  9/30/2022
Permian Holdings Inc        PRMIAN  10.500    38.625  1/15/2018
Permian Holdings Inc        PRMIAN  10.500    38.625  1/15/2018
PetroQuest Energy Inc       PQ      10.000    57.120   9/1/2017
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                PRSPCT  10.250    50.500  10/1/2018
Prospect Holding Co LLC /
  Prospect Holding
  Finance Co                PRSPCT  10.250    52.000  10/1/2018
Quicksilver Resources Inc   KWKA     9.125     2.250  8/15/2019
Quicksilver Resources Inc   KWKA    11.000     1.250   7/1/2021
Quiksilver Inc /
  QS Wholesale Inc          ZQK     10.000     6.250   8/1/2020
Quiksilver Inc /
  QS Wholesale Inc          ZQK      7.875    20.375   8/1/2018
Quiksilver Inc /
  QS Wholesale Inc          ZQK      7.875    20.125   8/1/2018
RAAM Global Energy Co       RAMGEN  12.500     8.750  10/1/2015
RAIT Financial Trust        RAS      7.000    77.000   4/1/2031
Resolute Energy Corp        REN      8.500    38.050   5/1/2020
Rex Energy Corp             REXX     8.875    12.250  12/1/2020
Rex Energy Corp             REXX     6.250    14.000   8/1/2022
Rex Energy Corp             REXX     8.875    12.125  12/1/2020
Rex Energy Corp             REXX     8.875    12.125  12/1/2020
Rolta LLC                   RLTAIN  10.750    53.500  5/16/2018
Sabine Oil & Gas Corp       SOGC     7.250     6.500  6/15/2019
Sabine Oil & Gas Corp       SOGC     7.500     6.500  9/15/2020
Sabine Oil & Gas Corp       SOGC     7.500     6.750  9/15/2020
Sabine Oil & Gas Corp       SOGC     7.500     6.750  9/15/2020
SandRidge Energy Inc        SD       8.750    19.000   6/1/2020
SandRidge Energy Inc        SD       7.500     0.765  3/15/2021
SandRidge Energy Inc        SD       8.750     3.520  1/15/2020
SandRidge Energy Inc        SD       8.125     0.271 10/15/2022
SandRidge Energy Inc        SD       7.500     0.730  2/15/2023
SandRidge Energy Inc        SD       8.125     0.375 10/16/2022
SandRidge Energy Inc        SD       8.750    17.425   6/1/2020
SandRidge Energy Inc        SD       7.500     0.444  3/15/2021
SandRidge Energy Inc        SD       7.500     0.444  3/15/2021
Savient
  Pharmaceuticals Inc       SVNT     4.750     0.225   2/1/2018
Sequa Corp                  SQA      7.000    26.750 12/15/2017
Sequa Corp                  SQA      7.000    26.750 12/15/2017
Seventy Seven Energy Inc    SSE      6.500     7.000  7/15/2022
Seventy Seven
  Operating LLC             SSE      6.625    22.000 11/15/2019
Seventy Seven
  Operating LLC             SSE      6.625    38.000 11/15/2019
Seventy Seven
  Operating LLC             SSE      6.625    20.500 11/15/2019
Sidewinder Drilling Inc     SIDDRI   9.750    43.500 11/15/2019
Sidewinder Drilling Inc     SIDDRI   9.750    43.500 11/15/2019
Solazyme Inc                SZYM     6.000    51.734   2/1/2018
Speedy Cash Intermediate
  Holdings Corp             SPEEDY  10.750    55.000  5/15/2018
Speedy Cash Intermediate
  Holdings Corp             SPEEDY  10.750    55.500  5/15/2018
Speedy Cash Intermediate
  Holdings Corp             SPEEDY  10.750    55.250  5/15/2018
Speedy Cash Intermediate
  Holdings Corp             SPEEDY  10.750    55.250  5/15/2018
Speedy Group
  Holdings Corp             SPEEDY  12.000    53.375 11/15/2017
Speedy Group
  Holdings Corp             SPEEDY  12.000    53.375 11/15/2017
SquareTwo Financial Corp    SQRTW   11.625    35.000   4/1/2017
Stone Energy Corp           SGY      1.750    59.000   3/1/2017
SunEdison Inc               SUNE     2.000    38.000  10/1/2018
SunEdison Inc               SUNE     0.250    20.149  1/15/2020
Swift Energy Co             SFY      7.875     9.250   3/1/2022
Swift Energy Co             SFY      7.125     3.550   6/1/2017
Swift Energy Co             SFY      8.875     4.361  1/15/2020
Syniverse Holdings Inc      SVR      9.125    39.500  1/15/2019
TMST Inc                    THMR     8.000    15.250  5/15/2013
Talos Production LLC /
  Talos Production
  Finance Inc               TALPRO   9.750    43.500  2/15/2018
Talos Production LLC /
  Talos Production
  Finance Inc               TALPRO   9.750    35.500  2/15/2018
Terrestar Networks Inc      TSTR     6.500    10.000  6/15/2014
TetraLogic
  Pharmaceuticals Corp      TLOG     8.000    26.500  6/15/2019
Texas Competitive Electric
  Holdings Co LLC /
  TCEH Finance Inc          TXU     10.250     5.625  11/1/2015
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc               TXU     11.500    32.250  10/1/2020
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc               TXU     15.000     6.150   4/1/2021
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc               TXU     10.250     7.000  11/1/2015
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc               TXU     11.500    32.000  10/1/2020
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc               TXU     15.000     2.800   4/1/2021
Texas Competitive Electric
  Holdings Co LLC / TCEH
  Finance Inc               TXU     10.250     5.875  11/1/2015
Triangle USA
  Petroleum Corp            TPLM     6.750    17.500  7/15/2022
Triangle USA
  Petroleum Corp            TPLM     6.750    27.000  7/15/2022
UCI International LLC       UCII     8.625    28.250  2/15/2019
Vanguard Natural
  Resources LLC /
  VNR Finance Corp          VNR      7.875    15.750   4/1/2020
Venoco Inc                  VQ       8.875    10.050  2/15/2019
Verso Paper Holdings
  LLC / Verso Paper Inc     VRS     11.750    17.000  1/15/2019
Verso Paper Holdings
  LLC / Verso Paper Inc     VRS     11.750    16.500  1/15/2019
Verso Paper Holdings
  LLC / Verso Paper Inc     VRS     13.000     1.350   8/1/2020
Verso Paper Holdings
  LLC / Verso Paper Inc     VRS     11.750    14.000  1/15/2019
Verso Paper Holdings
  LLC / Verso Paper Inc     VRS     13.000     0.138   8/1/2020
Verso Paper Holdings
  LLC / Verso Paper Inc     VRS     13.000     0.138   8/1/2020
Verso Paper Holdings
  LLC / Verso Paper Inc     VRS     11.750    14.000  1/15/2019
W&T Offshore Inc            WTI      8.500    26.500  6/15/2019
Walter Energy Inc           WLTG     9.500    27.250 10/15/2019
Walter Energy Inc           WLTG     9.500    28.500 10/15/2019
Walter Energy Inc           WLTG     9.500    27.000 10/15/2019
Walter Energy Inc           WLTG     9.500    27.000 10/15/2019
Warren Resources Inc        WRES     9.000     7.375   8/1/2022
Warren Resources Inc        WRES     9.000     7.375   8/1/2022
Warren Resources Inc        WRES     9.000     7.375   8/1/2022
iHeartCommunications Inc    IHRT    10.000    41.500  1/15/2018
iHeartCommunications Inc    IHRT     6.875    52.914  6/15/2018


                            *********

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

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

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

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

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

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

                            *********

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

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

Copyright 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 ***