TCR_Public/160209.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, February 9, 2016, Vol. 20, No. 40

                            Headlines

33 PECK SLIP: Completes Sale of New York Property to Howard Hughes
33 PECK SLIP: Liquidating Plan Declared Effective
ACCUTHERM INC: Court Affirms Summary Judgment Under Spill Act
ACQUISITIONS COGECO II: S&P Affirms 'BB-' CCR, Outlook Stable
AGFC CAPITAL: Fitch Cuts Preferred Securities Ratings to 'CC/RR6'

ALLIED NEVADA: Court OKs Ashby & Geddes's $207K Fees, Expenses
AMERICAN APPAREL: Exits Chapter 11 Reorganization
AMERICAN NATURAL: Court Allows $360K Additional Secured Financing
ARCH COAL: Citizen Suit Against Mingo Logan Mine Stayed
ASSOCIATED WHOLESALERS: Debtor Needs Until March 9 to File Plan

BERNARD L. MADOFF: Picard to Explain Opposition to Declaration
BERNARD L. MADOFF: PwC Wants Trustee Protest to $55M Deal Barred
BOOMERANG SYSTEMS: Files Liquidating Trust Agreement
BROADCOM CORP: Moody's Lowers Sr. Unsecured Rating to Ba2
CCNG ENERGY: Guggenheim-Led Auction for Feb. 23 Set

CCNG ENERGY: Michael Epstein Okayed as Chief Restructuring Officer
CEC ENTERTAINMENT: Moody's Lowers CFR to B3, Outlook Stable
CERES INC: Admits Going Concern Doubt, Expects Further Losses
CHURCH STREET: Tenant Allowed to Amend Suit vs. Landlord
CN RESOURCES: Posts Net Loss, Raises Going Concern Doubt

COTY INC: $500MM Share Buyback No Impact on Moody's 'Ba1' CFR
COX INVESTMENTS II: Case Summary & 3 Top Unsecured Creditors
CRYOPORT INC: Effects Mandatory Exchange of Preferred Shares
CUSTOM SOFTWARE: Case Summary & 20 Largest Unsecured Creditors
D.J. CHRISTIE: Court Affirms Approval of Deal with Meyer, Pratt

DRUG STORES II: Case Summary & 20 Largest Unsecured Creditors
EXTREME PLASTICS: Feb. 10 Meeting Set to Form Creditors' Panel
FELD LIMITED: Files for Chapter 11 Bankruptcy Protection
FIDELITY & GUARANTY: S&P Keeps 'BB-' Rating on Watch Developing
FOUNTAINS OF BOYNTON: Case Summary & 17 Top Unsecured Creditors

FREEDOM INDUSTRIES: Fined $900K Over Chemical Spill
FRESH & EASY: Seeks May 27 Extension of Plan Filing Period
FRONTIER COMMUNICATIONS: Fitch Affirms 'BB' Issuer Default Rating
GENWORTH HOLDINGS: Moody's Lowers Sr. Unsecured Debt Rating to Ba3
GLOBAL ENERGY: Case Summary & 20 Largest Unsecured Creditors

GOLDEN MARINA: Case Summary & 20 Largest Unsecured Creditors
HANCOCK FABRICS: Feb. 10 Meeting Set to Form Creditors' Panel
HASKELL PROPERTIES: Tells Court Buyout Conferred Cleanup Coverage
HENRY LONDON ANDERSON: Law Firm Loses Ch. 11 Fees Due to Tax Lien
HII TECHNOLOGIES: Creditors Seek to End Apache's Plan Exclusivity

HORSEHEAD HOLDING: Feb. 16 Meeting Set to Form Creditors' Panel
HOUGHTON MIFFLIN: Moody's Lowers Company Family Rating to B2
IASIS HEALTHCARE: Moody's Affirms B2 CFR, Outlook Stable
JAMES RIVER: Plan Confirmation Hearing Set for March 10
JCBG INCORPORATED: Closes, Sale of Liquor License & Property OK'd

JOSEPH DETWEILER: Wins Partial Summary Judgment in Sequatchie Suit
KALOBIOS PHARMACEUTICALS: U.S. Trustee Wants Trustee or Chapter 7
KUZINA BY SOFIA: Files for Chapter 11 Bankruptcy Protection
LEHMAN BROTHERS: Pulled $380M Out of Anglo Irish Prior to Ch. 11
LIQUID HOLDINGS: Feb. 11 Meeting Set to Form Creditors' Panel

LOGISTIC ENTERPRISES: Voluntary Chapter 11 Case Summary
MALIBU LIGHTING: Seeks June 4 Extension of Plan Filing Period
MEDRISK LLC: Moody's Assigns B2 CFR & Rates Credit Facilities Ba3
METROPOLITAN AUTOMOTIVE: Asks for March 4, 2016 Bid Deadline
METROPOLITAN BAPTIST: Voluntary Chapter 11 Case Summary

MID-STATES SUPPLY: Case Summary & 20 Top Unsecured Creditors
MISSISSIPPI REGIONAL CANCER: Case Summary & Top Unsecured Creditor
MOLYCORP: Oaktree Objects to Mediation Privilege Order Stay Motion
MOTORS LIQUIDATION: Drivers Want Rulings on Protection Reversed
NATIONAL UNION: Court Affirms $10MM Coverage for Previti Parties

NESCO LLC: S&P Lowers CCR to 'CCC' on Weak Liquidity
NEW GULF RESOURCES: Backstop & Plan Support Agreements Revised
NORANDA ALUMINUM: Case Summary & 30 Largest Unsecured Creditors
NORANDA ALUMINUM: Files for Chapter 11 Amid Aluminum Price Drop
NORANDA ALUMINUM: In Ch. 11 to Stabilize Upstream Operations

NORANDA ALUMINUM: Proposes Procedures to Protect NOLs
NORANDA ALUMINUM: Seeking Joint Administration of Cases
NORANDA ALUMINUM: Wants 45-Day Extension to File Schedules
NORTEL NETWORKS: Overseas Units Can't Escape US Software Suit
OUTER HARBOR: Feb. 11 Meeting Set to Form Creditors' Panel

PARAGON OFFSHORE: Lenders May Blame Parent If Oil Driller Fails
PEEK AREN'T YOU: Case Summary & 20 Largest Unsecured Creditors
PHILLIPS INVESTMENTS: Wins Nod to Tap Real Cap as Expert Witness
PICO HOLDINGS: Activist Blog Values UCP Unit at $12 Per Share
PIERCE ELEVATOR: Voluntary Chapter 11 Case Summary

PROMPT RESTORATION: Case Summary & 17 Largest Unsecured Creditors
PYKKONEN CAPITAL: Case Summary & 19 Largest Unsecured Creditors
QUICKSILVER RESOURCES: Needs Until June 15 to File Plan
RADIOSHACK CORP: Fends Off Class Action Claims
RCS CAPITAL: Feb. 11 Meeting Set to Form Creditors' Panel

RELATIVITY MEDIA: Judge Confirms Bankruptcy-Exit Plan
RELATIVITY MEDIA: Manchester Parties, 2 Others to Accept Plan
RELATIVITY MEDIA: Moses & Singer Submits Verified Statement
RELATIVITY MEDIA: Panel's Settlement with Manchester Okayed
RELATIVITY MEDIA: Touts Kevin Spacey Partnership in Ch. 11 Push

RYCKMAN CREEK: Feb. 12 Meeting Set to Form Creditors' Panel
SABINE OIL: Creditors Gird for Fight Over Merger
SAMSON RESOURCES: Committee Seeks to Hire Holland for Land Services
SAMSON RESOURCES: Seeks to Retain Quinn as Conflicts Counsel
SAN BERNARDINO, CA: Bondholders Resume Talks

SAPPHIRE DEVELOPMENT: Ch. 11 a "Tactical Litigation Maneuver"
SEAPORT AIRLINES: Case Summary & 20 Largest Unsecured Creditors
SFX ENTERTAINMENT: Feb. 12 Meeting Set to Form Creditors' Panel
SPORTS AUTHORITY: Said to Take Steps Toward Chapter 11
SPYGLASS RESOURCES: Oil Assets for Sale; Bids Due March 10

SWIFT ENERGY: Creditors Have Until March 4, 2016 to File Claims
SYCAMORE INVESTMENT: Case Summary & 20 Top Unsecured Creditors
TAYLOR-WHARTON INT'L: Court Approves Joint Administration of Cases
TERVITA CORP: Considers Asset Sales, Restructuring
TRANSCOASTAL CORP: Plan Declared Effective Jan. 28; Bar Dates Set

VARIANT HOLDING: H14 Debtors Can Use Cash Collateral in Interim
VARIANT HOLDING: Seeks Approval of $190-Mil. Sale to Beach Point
VAUGHAN COMPANY: Court Issues Amended Opinion Denying Confirmation
VERSO CORP: 341 Meeting of Creditors Set for March 7
VERSO CORP: U.S. Trustee Forms 7-Member Creditors' Committee

VISION SOLUTIONS: S&P Lowers CCR to 'B-', on CreditWatch Negative
WALTER ENERGY: Asset Sale Garners Conditional Court Approval
WASHINGTON TRANSIT: Hires Jones Day as Adviser
WATTENBERG OIL: Creditors Want Interim, Permanent Trustee
WORLD IMPORTS: Suppliers' Claims Not Entitled to Admin. Priority

YAMANA GOLD: S&P Alters Outlook to Negative on Lower Metal Prices
ZOHAR CDO 2003-1: Lynn Tilton Steps Down from $2.5-Bil. CLO Funds
[*] The Deal Unveils Results of Q4 2015 Bankruptcy League Tables
[^] Large Companies with Insolvent Balance Sheet

                            *********

33 PECK SLIP: Completes Sale of New York Property to Howard Hughes
------------------------------------------------------------------
33 Peck Slip Acquisition LLC, et al., notified the U.S. Bankruptcy
Court for the Southern District of New York of the closing of sale
of real property assets located at 33 Peck Slip, New York City, to
The Howard Hughes Corporation.

The sale of property for $38,300,000 closed on Jan. 29, 2016,
pursuant to the (a) the Debtors' First Amended Joint Liquidating
Plan dated Dec. 2, 2015; (b) order confirming the Debtors' First
Amended Liquidating Plan; and (c) purchase and sale agreement dated
as of Nov. 24, 2015, by and between the Debtor and Howard Hughes,
the purchaser.

As reported by the Troubled Company Reporter on Dec. 31, 2015, the
Debtor has sold its hotel in Manhattan to Howard Hughes Corp.

Howard Hughes made a $38.3 million offer for the Best Western
Seaport Hotel located at 33 Peck Slip, New York.  Its offer was
declared as the winning bid at a bankruptcy auction held earlier
this month.

Morning View Hotels New York Seaport LLC, which offered $37.3
million for the property in September, had earlier opposed Howard
Hughes' $38.3 million bid.

In its objection, Morning View Hotels said the company made an
offer after the deadline for submitting bids in violation of the
court-approved bidding process.  Morning View Hotels also argued
that creditors will not benefit from the deal.

The objection was overruled by U.S. Bankruptcy Judge James Garrity
Jr. earlier this month.

In connection with the sale, Judge Garrity has given 33 Peck
interim approval to pay $375,500 to RobertDouglas, the company's
real estate advisor, according to court filings.

                          About 33 Peck

Owners of four New York City hotel properties, namely 33 Peck Slip
Acquisition LLC, Gemini 37 West 24th Street MT, LLC, 36 West 38th
Street LLC and 52 West 13th P, LLC, have sought Chapter 11
bankruptcy protection, intending to auction off their assets in
connection with a Chapter 11 plan.  The Debtors are affiliated
with
Gemini Real Estate Advisors.

As of the bankruptcy filing, the Debtors owned:

   * the Best Western Seaport Hotel, at 33 Peck Slip in the South
Street Seaport Historic District on the Lower Manhattan waterfront
in New York City, New York;

   * the Wyndham Flatiron Hotel, at 37 West 24th Street in the
Flatiron district of New York City, New York;

   * the Jade Greenwich Village Hotel at 52 West 13th Street in
Greenwich Village in Lower Manhattan in New York City, New York;
and

   * the Bryant Park Development Site, a development lot that is
approved for development as a 114-room boutique hotel at 34-36
West
38th Street in the Bryant Park district of New York City, New
York.

33 Peck Slip Acquisition LLC, et al., sought Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case Nos. 15-12479 to 15-12482) on
Sept. 3, 2015.

The Debtors reported total assets of $205.8 million and total
liabilities of $135.6 million.

The Debtors tapped Robins Kaplan LLP as attorneys; and Robert
Douglas as real estate advisor.

                           *     *     *

The Court's Oct. 19, 2015 Bar Date Order provides that the last
date to file a proof of claim in the Chapter 11 cases was Dec. 16,
2015, and the last date for governmental units to file proofs of
claim is March 1, 2016.

The Debtors on Dec. 8, 2015 won confirmation of a liquidating plan
that will pay off creditors from proceeds of the sale of their
assets.


33 PECK SLIP: Liquidating Plan Declared Effective
-------------------------------------------------
33 Peck Slip Acquisition LLC, et al., notified the U.S. Bankruptcy
Court for the Southern District of New York that the Effective Date
of its First Amended Joint Liquidating Plan occurred on Jan. 29,
2016.

The Court entered an order confirming the Plan on Dec. 8, 2015.

As reported in the Troubled Company Reporter on Jan. 8, 2016, the
Debtors proposed a full-payment plan that will be funded from the
sales of 4 New York City hotel properties.

The Debtors have prepared a joint plan, which provides for the sale
of each of the Debtors' real estate assets and the distribution of
the sale proceeds to the applicable Debtor's creditors and
members.

All creditor classes will either receive payment in full on the
effective date of the Plan or will retain unaltered the legal,
equitable, and contractual rights, and all member classes will
retain their interests.  Because the Plan does not propose to
impair any class of claims or interests, the Debtors won't be
soliciting votes on the Plan.

The distribution to creditors will be funded from the proceeds of
the sale of the Debtors' real estate assets:

   * 33 Peck has entered into an agreement to sell its real
     property located at 33 Peck Slip, New York, NY, to
     Morning View Hotels - New York Seaport, LLC for $37,300,000.

   * 36 West has entered into an agreement to sell its real
     property located at 36 West 38th Street, New York, NY,
     to Hansji Corporation for $25,500,000.  Subsequently, Hanji
     elected to terminate the agreement.  The Debtors expect that
     a new agreement with a new buyer will be filed with the
     Bankruptcy Court prior to the Confirmation Hearing.

   * 37 West has entered into an agreement to sell its real
     property located at 37 West 24th Street, New York, NY, to
     Bridgeton Acquisitions LLC for $57,000,000.

   * 52 West has entered into an agreement to sell its real
     property located at 52 West 13th Street, New York, NY,
     to Bridgeton Acquisitions LLC for $78,000,000.

Each of the sales, subject to higher and better bids, will be
consummated in connection with the Plan.

A copy of the Debtors' First Amended Joint Liquidating Plan filed
Dec. 2, 2015, is available for free at:

    http://bankrupt.com/misc/33_Peck_Slip_195_Am_Plan.pdf

The Debtors are represented by:

         David B. Shemano, Esq.
         ROBINS KAPLAN LLP
         601 Lexington Avenue, Suite 3400
         New York, NY 10022-4611
         Tel: (212) 980-7400
         Fax: (212) 980-7499

            -- and --

         Howard J. Weg, Esq.
         Scott F. Gautier, Esq.
         ROBINS KAPLAN LLP
         2049 Century Park East, Suite 3400
         Los Angeles, CA 90067-3208
         Tel: (310) 552-0130
         Fax: (310) 229-5800

                          About 33 Peck

Owners of four New York City hotel properties, namely 33 Peck Slip
Acquisition LLC, Gemini 37 West 24th Street MT, LLC, 36 West 38th
Street LLC and 52 West 13th P, LLC, have sought Chapter 11
bankruptcy protection, intending to auction off their assets in
connection with a Chapter 11 plan.  The Debtors are affiliated with
Gemini Real Estate Advisors.

As of the bankruptcy filing, the Debtors owned:

   * the Best Western Seaport Hotel, at 33 Peck Slip in the South
Street Seaport Historic District on the Lower Manhattan waterfront
in New York City, New York;

   * the Wyndham Flatiron Hotel, at 37 West 24th Street in the
Flatiron district of New York City, New York;

   * the Jade Greenwich Village Hotel at 52 West 13th Street in
Greenwich Village in Lower Manhattan in New York City, New York;
and

   * the Bryant Park Development Site, a development lot that is
approved for development as a 114-room boutique hotel at 34-36 West
38th Street in the Bryant Park district of New York City, New
York.

33 Peck Slip Acquisition LLC, et al., sought Chapter 11 bankruptcy
protection (Bankr. S.D.N.Y. Case Nos. 15-12479 to 15-12482) on
Sept. 3, 2015.

The Debtors reported total assets of $205.8 million and total
liabilities of $135.6 million.

The Debtors tapped Robins Kaplan LLP as attorneys; and Robert
Douglas as real estate advisor.

                           *     *     *

The Court's Oct. 19, 2015 Bar Date Order provides that the last
date to file a proof of claim in the Chapter 11 cases was Dec. 16,
2015, and the last date for governmental units to file proofs of
claim is March 1, 2016.

The Debtors on Dec. 8, 2015 won confirmation of a liquidating plan
that will pay off creditors from proceeds of the sale of their
assets.


ACCUTHERM INC: Court Affirms Summary Judgment Under Spill Act
-------------------------------------------------------------
Defendants/Appellants Navillus Group, et al., except Accutherm,
Inc., and Philip J. Giuliano, appeal from a May 16, 2014 order
entering summary judgment against them for costs related to the
remediation of the site of a former thermometer manufacturing plant
in Salem County.

The Appellants contend the trial court erred by granting summary
judgment despite genuinely disputed material facts as to whether
they were innocent purchasers of the contaminated site and as to
the damages.  They also contend the trial court erred by finding
the general partners of defendant Navillus Group, a General
Partnership, liable for the judgment against it and by piercing the
corporate veil of Jim Sullivan, Inc.  They also argue the trial
court misapplied the doctrine of unjust enrichment.

In an Opinion dated January 14, 2016, which is available at
http://is.gd/CWGvF7from Leagle.com, the Superior Court of New
Jersey, Appellate Division, affirmed the summary judgment under the
Spill Act as to Jim Sullivan, Inc., Navillus, and the four siblings
as Navillus general partners and reversed the summary judgment as
to Jim Sullivan based upon piercing Jim Sullivan, Inc.'s corporate
veil.  Also reversed is the order granting summary judgment insofar
as it is based on the doctrine of unjust enrichment and case is
remanded to the trial court for further proceedings consistent with
this opinion.

Having considered the defendants' arguments in light of the summary
judgment motion record and applicable law, this court agreed with
the trial court's decision to pierce Jim Sullivan, Inc.'s corporate
veil is not supported by sufficient undisputed evidence on the
motion record.  There was insufficient undisputed evidence on the
record to impose liability on defendants on a theory of unjust
enrichment.

The case is NEW JERSEY DEPARTMENT OF ENVIRONMENTAL PROTECTION, and
THE ADMINISTRATOR OF THE NEW JERSEY SPILL COMPENSATION FUND,
Plaintiffs-Respondents, v. NAVILLUS GROUP, A GENERAL PARTNERSHIP;
JIM SULLIVAN, INC.; JAMES SULLIVAN, JR.; JAMES SULLIVAN, III;
SANDRA LYONS-SULLIVAN; DREW A. SULLIVAN; and TERRI L. CLAY,
Defendants-Appellants, and ACCUTHERM, INC., and PHILIP J. GIULIANO,
Defendants, No. A-4726-13T3.

Alan C. Milstein, Esq.-- amilstein@shermansilverstein.com --
Sherman, Silverstein, Kohl, Rose & Podolsky, P.A., attorneys for
appellants.


ACQUISITIONS COGECO II: S&P Affirms 'BB-' CCR, Outlook Stable
-------------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB-'
corporate credit rating on Acquisitions Cogeco Cable II Inc., the
parent holding company of Quincy, Mass.-based Atlantic Broadband.
The outlook is stable.

S&P also affirmed its 'BB' issue-level rating, with a '2' recovery
rating, on the secured first-lien debt (issued by Acquisitions
Cogeco Cable II LP and guaranteed by Atlantic Broadband (Penn)
Holdings Inc.).  The '2' recovery rating indicates S&P's
expectation for substantial recovery (70-90%; upper end of the
range) for lenders in the event of a payment default.

"The rating reflects Atlantic Broadband's (ABB) successful
integration of assets it acquired from MetroCast in Connecticut,
and we our expectation for debt to EBITDA to decline to the mid-4x
area over the next couple years," said Standard & Poor's credit
analyst Eric Nietsch.

S&P expects the leverage decline to be driven by EBITDA growth and
modest debt reduction.  However, S&P believes that it might not
sustain lower leverage and is likely to incur additional debt for
acquisitions.  S&P believes that the strategic owner, Canada-based
Cogeco Inc., purchased ABB with the intention of growing its U.S.
based cable footprint and that it would fund acquisitions with new
debt held at ABB.

The 'BB-' corporate credit rating on ABB reflects the 'b+'
stand-alone credit profile plus one notch of support based on S&P's
view that that ABB is moderately strategic to Cogeco.

The stable outlook reflects the good revenue visibility from the
company's mostly subscription-based cable business model.  S&P
anticipates growth in HSD subscribers, selective rate increases,
and increased penetration from commercial services to roughly
offset the loss of video customers.  While S&P expects leverage to
decline over the next 12 months due to organic EBITDA growth, it
believes there is the potential for additional debt-financed
acquisitions that could limit improvement in key credit metrics
longer term.



AGFC CAPITAL: Fitch Cuts Preferred Securities Ratings to 'CC/RR6'
-----------------------------------------------------------------
Fitch Ratings has downgraded the ratings assigned to AGFC Capital
Trust I's (AGFC) trust preferred securities to 'CC/RR6' from
'CCC/RR6'. The ratings have been removed from Rating Watch
Negative.

AGFC Capital Trust I is a special-purpose entity that was set up in
2007 to facilitate the issuance of trust preferred securities on
behalf of Springleaf Financial Corporation (SFC).

KEY RATING DRIVERS - TRUST PREFERRED SECURITIES

The rating downgrades maintain the two-notch differential between
AGFC's trust preferred securities and the Long-term Issuer Default
Rating (IDR) of SFC, the parent company of AGFC Capital Trust I,
reflecting the subordinated nature of the instrument and its poor
recovery prospects. SFC was downgraded to 'B-' from 'B' on Nov. 16,
2015, following the completion of the company's acquisition of
OneMain Financial Holdings, Inc. (OneMain).

This rating action concludes Fitch's rating actions with respect to
the SFC/OneMain acquisition in November 2015, and does not reflect
any further material developments of additional information since
that time.

RATING SENSITIVITIES - TRUST PREFERRED SECURITIES

The ratings assigned to the trust preferred securities are
primarily sensitive to changes in SFC's IDR and, to a lesser
extent, the recovery prospects of the instrument.

That said, Fitch views further downgrades to the trust preferred
securities as more limited because a downgrade to 'C' would
represent nonperformance, so that even a further downgrade to SFC
would not result in a downgrade to the trust preferred securities -
unless they were to defer and Fitch believed that nonperformance
would be sustained and not temporary. .

For additional details on the rating drivers and sensitivities for
SFC, please refer to Fitch's rating action commentary dated Nov.
16, 2015, "Fitch Downgrades Springleaf to 'B-' Following Completion
of OneMain Acquisition."

Fitch has downgraded the following ratings:

AGFC Capital Trust I

-- Trust preferred securities to 'CC/RR6' from 'CCC/RR6' and
    removed from Rating Watch Negative.


ALLIED NEVADA: Court OKs Ashby & Geddes's $207K Fees, Expenses
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware allowed
Ashby & Geddes, P.A.'s interim application for fees totaling
$167,360 for services rendered and expenses totaling $40,040, which
was incurred in relation to performing its task as co-counsel to
the Official Committee of Equity Security Holders in the Chapter 11
case of Allied Nevada Gold Corp., for the period from April 14
until May 27, 2015.

As reported by the Troubled Company Reporter on June 15, 2015,
Ashby & Geddes is expected to:

   (a) assist Susman Godfrey in providing legal advice regarding
       the rules and practices of the Court applicable to the
       Equity Committee's powers and duties as an official
       committee appointed under section 1102 of the Bankruptcy
       Code;

   (b) assist Susman Godfrey in providing legal advice regarding
       any disclosure statement and plan filed in these cases and
       with respect to the process for approving or disapproving a
       disclosure statement and confirming or denying confirmation
       of a plan;

   (c) assist Susman Godfrey in preparing and reviewing
       applications, motions, complaints, answers, orders,
       agreements and other legal papers filed on behalf of the
       Equity Committee for compliance with the rules and
       practices of the Court;

   (d) consult with the Debtors and their professionals, other
       parties-in-interest and their professionals, and the UST
       concerning the administration of the Debtors' estates;

   (e) appear in Court to present necessary motions, applications,
       and pleadings and otherwise protecting the interests of the
       Equity Committee and the Debtors' equity security holders;
       and

   (f) perform such other legal services for the Equity Committee
       as the Equity Committee believes may be necessary and
       proper in these chapter 11 cases.

Ashby & Geddes will be paid at these hourly rates:

       William P. Bowden, Member           $685
       Gregory A. Taylor, Member           $540
       Karen B. Skomorucha Owens, Member   $445
       Stacy L. Newman, Associate          $380
       Christopher Warnick, Paralegal      $195

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

William P. Bowden, member of Ashby & Geddes, 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.

                      About Allied Nevada

Allied Nevada Gold Corp. ("ANV"), a Delaware corporation, is a
publicly traded U.S.-based gold and silver producer engaged in
mining, developing and exploring properties in the State of
Nevada.

ANV was spun off from Vista Gold Corp. in 2006 and began
Operations in May 2007.  Nevada-based mining properties acquired
from Vista include the Hycroft Mine, an open-pit heap leach
operation located 54 miles west of Winnemucca, Nevada.  ANV
controls 75 exploration properties throughout Nevada as of Dec.
31,
2014.

On March 10, 2015, ANV and 13 affiliated debtors each filed a
voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware.  The cases are jointly administered under
Lead Case No. 15-10503.  The cases are assigned to Judge Mary F.
Walrath.

The Debtors have tapped Blank Rome LLP and Akin Gump Strauss Hauer
& Feld LLP as attorneys; FTI Consulting Inc. as financial advisor;
Moelis & Company as financial advisor; and Prime Clerk LLC as
claims and noticing agent.

ANV disclosed $941 million in total assets and $664 million in
total debt as of Dec. 31, 2014.

BankruptcyData reported that Allied Nevada Gold's Amended Joint
Chapter 11 Plan of Reorganization became effective and the Company
emerged from Chapter 11 protection.

The Court confirmed the Plan on Oct. 8, 2015.  Highlights of the
Plan include the following: As a result of the financial
restructuring, the Company eliminated approximately $447.7 million
of debt and related interest payments from its balance sheet.  The
Company closed two financings: a $126.7 million first lien term
loan credit agreement and $95 million of second lien convertible
notes.  The credit agreement proceeds were used to repay the
Company's outstanding loan obligations related to its revolving
credit agreement and the amounts owed under the Company's diesel
and cross-currency swap arrangements.


AMERICAN APPAREL: Exits Chapter 11 Reorganization
-------------------------------------------------
American Apparel, LLC, a manufacturer, distributor, and retailer of
branded fashion-basic apparel, on Feb. 5 disclosed that it has
emerged from chapter 11 as a private company after successfully
implementing its plan of reorganization, approved by the Delaware
bankruptcy court on January 27, 2016.

American Apparel's reorganization plan converted approximately $230
million of bonds into equity in the Company and provided for the
infusion into the Company of $40 million of exit capital and a
commitment for a $40 million asset-backed loan.  These sources of
incremental liquidity will serve as vital support to the Company's
turnaround plan, and interest expense will decrease by $20 million
as compared to the period before the Company's chapter 11 case.
Under the reorganization plan, the Company also converted its
corporate form from a Delaware corporation to a Delaware limited
liability company and, therefore, is now known as American Apparel,
LLC.

"I'm pleased to announce that our plan of reorganization, which was
supported by our Unsecured Creditors' Committee and our
bondholders, unanimously accepted by our voting creditors and
confirmed by the Court, has now enabled us to emerge from
bankruptcy in just a few short months.  This is the start of a new
day at American Apparel," said Chief Executive Officer Paula
Schneider.

Ms. Schneider added: "With the enormous debt burden removed, we can
now turn our full attention to our strategic turnaround, which will
benefit our customers, vendors and employees.  Our strategy will
focus on: designing fresh products and merchandising; launching new
partnerships to grow the
e-commerce platform; unveiling progressive advertising and
marketing campaigns; investing in brick-and-mortar retail locations
in more promising areas; and implementing rigorous planning and
forecasting for timely product deliveries and to streamline excess
inventory."

American Apparel's legal advisor in connection with the
restructuring was Jones Day.  FTI Consulting served as its
restructuring advisor and Moelis & Company served as its investment
banker for the restructuring.  Milbank, Tweed, Hadley & McCloy LLP
was the legal advisor to the bondholders and Ducera Partners LLC
served as restructuring advisor.

                    About American Apparel

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

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

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

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

                          *     *     *

The Debtors filed a proposed Joint Plan of Reorganization that
contemplates converting more than $200 million of senior notes into
equity interests of the reorganized American Apparel.

On Nov. 20, 2015, the Court approved the Disclosure Statement and
set a Jan. 7, 2016 voting deadline and a Jan. 20 plan confirmation
hearing.

On Jan. 10, the Debtors received a letter from former CEO Dov
Charney disclosing a proposed $300 million alternative transaction
that will be funded by Hagan Capital Group and Silver Creek Capital
Partners but American Apparel rejected the proposal.

On Jan. 25, 2016, the Court held a telephonic hearing, granting
confirmation of the Debtors' First Amended Plan, provided certain
revisions were made to the First Amended Plan and the proposed
confirmation order.  On Jan. 27, the Court entered an order
confirming the Plan.


AMERICAN NATURAL: Court Allows $360K Additional Secured Financing
-----------------------------------------------------------------
American Natural Energy Corporation sought and obtained from Judge
Elizabeth W. Magner of the U.S. Bankruptcy Court for the Eastern
District of Louisiana authorization to modify the terms of its
existing postpetition secured financing, as well as obtain
additional postpetition secured financing.

Judge Magner, in her final order, authorized the Debtor to obtain
additional postpetition secured financing in the amount of
$360,000.

The Debtor had originally asked the Court to authorize additional
postpetition secured financing in the amount of $430,000. Pursuant
to the approved DIP Budget the Debtor has anticipated net revenues
in the amount of $66,877 for January 2016 and $80,575 for February
2016.  The Debtor has likewise projected total expenses in the
amount of $219,333 for January 2016 and $280,433 for February,
leading to a net shortfall of $156,864 for January 2016 and
$199,858 for February 2016.

The Debtor related that under the Existing DIP Financing Order, the
Court previously authorized it to obtain Debtor-in-Possession
financing from its existing primary secured creditor, Hillair
Capital Investments, LP in the maximum principal amount of
$1,000,000 pursuant to a Revolving Loan Agreement between the
Debtor and Hillair.

The Debtor told the Court that one of the circumstances that led to
the Case was its loss of access to its market when the pipeline
ANEC used to transport its oil ruptured in February 2015 and was
abandoned by the pipeline owner.  The Debtor further told the Court
that at the time it sought the Existing DIP Facility, it had no
production or revenues and needed the Existing DIP Facility to
upgrade barges the Debtor needed to ship its oil, to restart
production, and to pay operating expenses until it could begin
generating revenue again.  The Debtor contended that since it has
restarted production, it is in a position to sell its assets as a
going concern or its equity interests.  It further contended that
Hillair recognizes the Debtor's need for an additional source of
revenue to cover expenses while it seeks a buyer.

The Debtor related that Hillair is willing to modify the terms of
the existing DIP Loan Agreement to increase the maximum principal
amount under the DIP Loan Agreement by $430,000 ("Additional
Advance") to $1,430,000.  The Debtor further related that the
Additional Advance would carry a 12 percent interest rate and have
a July 2, 2016 maturity date -- the same terms as the Existing DIP
Facility.  The Debtor added that the Additional Advance would have
a default interest rate of seventeen percent and would be secured
by a lien and administrative expense claim of equal priority to the
Existing DIP Facility, which currently has super-priority lien
status.

The Debtor contended that as part of the Existing DIP Facility,
ANEC and Hillair agreed upon, and the Court approved, a budget for
the first 60 days of the Case, where it is estimated that almost
$900,000 would be required to restore production and put the Debtor
in position to pay its ongoing operating expenses from revenues
during the remainder of the Case.  The Debtor told the Court that
it will soon propose to employ a broker as part of its strategy to
market and sell its assets or its equity interests. The Debtor
further told the Court that retention of the Broker, along with
other anticipated expenses in connection with marketing its assets
and or the equity interests, will result in the Debtor expending
approximately $50,000.  The Debtor added that its budget for
January and February, 2016 projects a cumulative operating deficit
of approximately $427,000.  As a result, to sell its assets on a
going-concern basis or its equity interests and generate the
maximum return to creditors, the Debtor will need to fund
approximately $430,000 of expenses that will not be covered by
revenues.

American Natural Energy Corporation is represented by:

          Jan M. Hayden, Esq.
          Edward H. Arnold, Esq.
          Patrick H. Willis, Esq.
          BAKER DONELSON BEARMAN
          CALDWELL & BERKOWITZ, PC
          201 St. Charles Avenue, Suite 3600
          New Orleans, LA 70170
          Telephone: (504)566-5200
          Facsimile: (504)636-4000
          E-mail: jhayden@bakerdonelson.com
                  harnold@bakerdonelson.com
                  pwillis@bakerdonelson.com
                       About American Natural

American Natural Energy Corporation is a Tulsa, Oklahoma-based
independent exploration and production company with operations in
St. Charles Parish, Louisiana.  ANEC is engaged in the
acquisition,
development, exploitation and production of oil and natural gas.
ANEC holds mineral interests in approximately 1,320 acres of land
in St. Charles Parish, Louisiana.  ANEC's wholly owned subsidiary,
Gothic Resources Inc., is a corporation organized under the Canada
Business Corporation Act.

American Natural was subject to an involuntary Chapter 11 petition
on Aug. 31, 2015 (Bankr. E.D. La., Case No. 15-122290), by Reamco,
Inc., C&M Contractors, Inc., Bayou Fuel Marine & Hardware
Supplies,
Inc., and Hillair Capital Investments, L.P.  ANEC consented to
entry of an Order for Relief on October 2, 2015, and an Order for
Relief was entered by the Court on the same date.

The Petitioners are represented by Philip Kirkpatrick Jones, Jr.,
Esq., at Liskow & Lewis, in New Orleans, Louisiana; and Michael A.
Crawford, Esq., at Taylor, Porter, Brooks & Phillips LLP, in Baton
Rouge, Louisiana.

The Debtor tapped (i) Baker Donelson Bearman Caldwell & Berkowitz,
PC as attorneys and (ii) Northpoint Energy Partners, LLC, to
provide Andrew Reckles and James Schroeder as CRO.

The U.S. trustee overseeing the Debtor's case appointed three
creditors to the official committee of unsecured creditors.  The
creditors are Baker Hughes Oilfield Operations Inc., PAR III Inc.,
and Summa Engineering Inc.  The committee is represented by
Lugenbuhl Wheaton Peck Rankin & Hubbard.

                           *     *     *

By final order entered on Oct. 30, 2015, the Court authorized the
Debtor to obtain DIP financing from its existing primary secured
creditor, Hillair, of up to $1,000,000.  Subsequently on December
11, 2015 the Debtor requested and later obtained approval to raise
the maximum to be borrowed under that facility to $1,360,000.

On Dec. 21, 2015, the Court entered an order granting the Debtor's
bar date motion, and set non-government proofs of claim for Feb.
15, 2016, and governmental proofs of claim for March 31, 2016.

The Debtor, and its largest secured creditor, Hillair Capital
Investments, L.P., have proposed a reorganization plan that would
give 92.5% of the stock of the reorganized company to Hillair and
the remaining shares to unsecured creditors.


ARCH COAL: Citizen Suit Against Mingo Logan Mine Stayed
-------------------------------------------------------
Bebe Raupe, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that a citizen's lawsuit against a West Virginia mining
company has been stayed pending the outcome of Arch Coal Inc.'s
bankruptcy proceedings.

According to the report, Judge Thomas Johnson of the U.S. District
Court for the Southern District of West Virginia issued the stay
requested by Mingo Logan Coal Co., which three environmental groups
allege has failed to protect West Virginia waterways in violation
of its Clean Water Act permit.

In his order, issued Jan. 25, Judge Johnson not only stayed the
civil action, he directed that the case be removed from the court's
active docket until Mingo Logan's parent corporation's bankruptcy
proceedings are concluded, the report said.

The citizen's lawsuit, filed last July in the U.S. District Court
for the Southern District of West Virginia, seeks enforcement of
water quality protections contained in Mingo Logan's permit issued
by the state under Section 401 of the Clean Water Act, the report
related.  According to the plaintiff environmental groups -- the
Ohio Valley Environmental Coalition, the Sierra Club and the West
Virginia Highlands Conservancy -- the
case represents the first time that citizens are suing to enforce a
condition in a Clean Water Act Section 401 water quality
certification, the report further related.

                         About Arch Coal

Founded in 1969, Arch Coal, Inc., is a producer and marketer of
coal in the United States, with operations and coal reserves in
each of the major coal-producing regions of the Country.  As of
January 2016, it was the second-largest holder of coal reserves in
the United States, owning or controlling over five billion tons of
proven and probable reserves.  As of the Petition Date, Arch
employed approximately 4,600 full- and part-time employees.

Arch Coal, Inc. and 71 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. E.D. Mo. Case Nos. 16-40120 to
16-40191) on Jan. 11, 2016.  The petition was signed by Robert G.
Jones as senior vice president-law, general counsel and secretary.
The Debtors disclosed total assets of $5.84 billion and total
debts
of $6.45 billion.  Judge Charles E. Rendlen III has been assigned
the case.

The Debtors have engaged Davis Polk & Wardwell LLP as counsel,
Bryan Cave LLP as local counsel, FTI Consulting, Inc. as
restructuring advisor, PJT Partners as investment banker, and
Prime
Clerk LLC as notice, claims and solicitation agent.


ASSOCIATED WHOLESALERS: Debtor Needs Until March 9 to File Plan
---------------------------------------------------------------
ADI Liquidation, Inc., f/k/a AWI Delaware, Inc., et al., ask the
U.S. Bankruptcy Court for the District of Delaware to further
extend the period by which they have exclusive right to file a
Chapter 11 plan through and including March 9, 2016, and extend the
period by which they have exclusive right to solicit acceptances of
that plan through and including May 4, 2016.

On October 29, 2014, following a successful competitive auction,
the Court entered an order approving the sale of substantially all
of the Debtors' assets to C&S Wholesale Grocers, Inc., or any one
or more of its affiliates designated as a purchaser of any acquired
asset at closing in accordance with an asset purchase agreement.
The Sale to the Purchaser closed on November 12,
2014.

In support of their extension request, the Debtors state: "The
Debtors intend to maintain the speed and efficiency of these
Chapter 11 Cases as they work to liquidate the Debtors' remaining
assets and formulate a chapter 11 liquidating plan; however, the
Debtors are mindful of the time required to monetize certain
remaining assets, conduct an analysis of claims filed and work with
the Committee and other constituents to negotiate a consensual
plan.  The Debtors also require sufficient time to consider plan
structure alternatives and the financial implications of each so
that the resulting plan serves the best interests of the Debtors
and their creditors.  The Debtors thus seek a brief extension of
the Exclusive Periods so that the Debtors, in consultation with
their key constituents, can work to develop a viable chapter 11
plan."

The extension motion was filed by Mark Minuti, Esq., at Saul Ewing
LLP, in Wilmington, Delaware, and Jeffrey C. Hampton, Esq., and
Monique B. DiSabatino, Esq., at Saul Ewing LLP, in Philadelphia,
Pennsylvania.

                   About Associated Wholesalers

Founded in 1962 and headquartered in Robesonia, Pennsylvania,
Associated Wholesalers Inc. serviced 800 supermarkets, specialty
stores, convenience stores and superettes with grocery, meat,
produce, dairy, frozen foods and general merchandise/health and
beauty care products.  AWI, with distribution facilities in
Robesonia, Pennsylvania, and York, Pennsylvania, served the
mid-Atlantic United States.  AWI is owned by its 500 retail
members, who in turn operate supermarkets.  AWI had 1,459
employees.

White Rose Inc. is a food wholesaler and distributor serving the
greater New York metropolitan area.  The company traces its
origins
to 1886, when brothers Joseph and Sigel Seeman founded Seeman
Brothers & Doremus to provide grocery deliveries throughout New
York City.  White Rose carries out its operations through three
leased warehouse and distribution centers, two of which are located
in Carteret, New Jersey, and one in Woodbridge, New Jersey.  White
Rose has 777 employees.

Associated Wholesalers and its affiliates sought Chapter 11
bankruptcy protection on Sept. 9, 2014, to sell their assets under
11 U.S.C. Sec. 363 to C&S Wholesale Grocers, absent higher and
better offers.  The Debtors were granted joint administration of
their Chapter 11 cases for procedural purposes, under the lead case
of AWI Delaware, Inc., Bankr. D. Del. Case No. 14-12092.

As of the Petition Date, the Debtors owed the Bank Group
(consisting of lenders, Bank of America, N.A., Bank of American
Securities LLC as sole lead arranger and joint book runner, Wells
Fargo Capital Finance, LLC as joint book runner and syndication
agent, and RBS Capita, as documentation agent) an aggregate
principal amount of not less than $131,857,966 (inclusive of
outstanding letters of credit), plus accrued interest.  The Debtors
estimate trade debt of $72 million.  AWI Delaware disclosed $11,440
in assets and $125,112,386 in liabilities as of the Chapter 11
filing.

Saul Ewing LLP and Rhoads & Sinon LLP are serving as legal advisors
to the Debtors, Lazard Middle Market is serving as financial
advisor, and Carl Marks Advisors is serving as restructuring
advisor to AWI.  Carl Marks' Douglas A. Booth has been tapped as
chief restructuring officer.  Epiq Systems serves as the claims
agent.

The Official Committee of Unsecured Creditors is represented by
David B. Stratton, Esq., and Evelyn J. Meltzer, Esq., at Pepper
Hamilton, LLP, in Wilmington, Delaware; and Mark T. Power, Esq.,
and Christopher J. Hunker, Esq., at Hahn & Hessen LLP, in New York.
The Committee also has retained Capstone Advisory Group, LLC,
together with its wholly-owned subsidiary Capstone Valuation
Services, LLC, as its financial advisors.

The Troubled Company Reporter, on Nov. 5, 2014, reported that the
Bankruptcy Court authorized Associated Wholesalers to sell
substantially all of its assets, including their White Rose grocery
distribution business, to C&S Wholesale Grocers, Inc.   The C&S
purchase price consists of the lesser of the amount of the bank
debt, which totals about $18.1 million and $152 million, plus other
liabilities, which amount is valued at $194 million.  C&S,
according to Bill Rochelle and Sherri Toub, bankruptcy columnists
for Bloomberg News, ended up paying $86.5 million more cash to be
anointed as the winner at the auction.

Associated Wholesalers, which changed its name to AWI Delaware,
Inc., prior to the approval of the sale.  AWI Delaware notified the
Bankruptcy Court on Nov. 12, 2014, that closing occurred in
connection with the sale of their assets to C&S.  AWI Delaware then
changed its name to ADI Liquidation, Inc., following the closing of
the sale.


BERNARD L. MADOFF: Picard to Explain Opposition to Declaration
--------------------------------------------------------------
Carmen Germaine at Bankruptcy Law360 reported that a New York
federal judge on Feb. 1, 2016, ordered Bernard Madoff's liquidation
trustee to show why a group of investors trying to sue one of
Madoff's former top clients can't include the con man's apparent
assertion that the client controlled the Ponzi scheme.

U.S. Bankruptcy Judge Stuart M. Bernstein ordered Madoff trustee
Irving Picard, along with the estate of Madoff client Jeffry
Picower and several of Picower's companies, to show cause why he
shouldn't strike letters they submitted taking issue with a
declaration from Madoff himself.

                     About Bernard L. Madoff

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

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

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

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

From recoveries in lawsuits coupled with money advanced by SIPC,
Mr. Picard has commenced distributions to victims.  As of December
2015, the SIPA Trustee has recovered more than $10.91 billion and
has distributed approximately $9.16 billion, including $833 million
in committed advances from the Securities Investor Protection
Corporation (SIPC).


BERNARD L. MADOFF: PwC Wants Trustee Protest to $55M Deal Barred
----------------------------------------------------------------
Diana Novak Jones at Bankruptcy Law360 reported that
PricewaterhouseCoopers LLP and a class of investors who lost money
in Bernie Madoff's Ponzi scheme have asked a New York federal judge
to block attempts from a bankruptcy trustee to intervene in their
$55 million settlement, saying the trustee's arguments have too
many holes to move forward.  New Greenwich Litigation Trustee LLC,
the bankruptcy trustee for two feeder funds that invested in Bernie
L. Madoff Investment Securities LLC, told U.S. District Judge
Victor Marrero the landmark settlement is void.

                     About Bernard L. Madoff

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

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

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

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

From recoveries in lawsuits coupled with money advanced by SIPC,
Mr. Picard has commenced distributions to victims.  As of December
2015, the SIPA Trustee has recovered more than $10.91 billion and
has distributed approximately $9.16 billion, including $833 million
in committed advances from the Securities Investor Protection
Corporation (SIPC).


BOOMERANG SYSTEMS: Files Liquidating Trust Agreement
----------------------------------------------------
Boomerang Systems, Inc., et al., filed with the U.S. Bankruptcy
Court for the District of a liquidating trust agreement, a
full-text copy of which is available at http://is.gd/GRWtmA,as
exhibit to their First Amended Joint Plan of Liquidation.

This Plan is premised upon, and incorporates, (i) the PrePetition
Lender/Committee Settlement, a proposed settlement by and between
the Committee and the LSA Lenders, and (ii) the sale of
substantially all the Debtors' Sale Assets.  The fundamental terms
of the PrePepetition Lender Settlement provides for the allocation
of proceeds received from the Sale process and from the Liquidating
Trustee's administration of certain litigation assets.  This
allocation is intended to ensure that unsecured creditors will
benefit from the efforts of the Committee and the Liquidating
Trustee in administering and liquidating the Debtors' assets and
litigation rights.

                      About Boomerang Systems

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

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

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

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


BROADCOM CORP: Moody's Lowers Sr. Unsecured Rating to Ba2
---------------------------------------------------------
Moody's Investors Service downgraded the senior unsecured rating of
Broadcom Corporation to Ba2 from A2 following the closing of
Broadcom's purchase by Avago Technologies Limited.  This concludes
a review for downgrade initiated on May 28, 2015.  The outlook is
positive.

RATINGS RATIONALE

The remaining senior unsecured notes of Broadcom that were not
tendered will not be guaranteed by Broadcom Ltd (parent company of
merged Avago and Broadcom entities), nor will the holders of
Broadcom Corporation's senior unsecured notes be party to any
collateral agreement.  As a result, the Broadcom notes are rated
one notch below Avago Technologies Cayman Finance Ltd.'s Corporate
Family Rating.  Moody's do not expect Broadcom Ltd to file
separate, audited financial statements of Broadcom Corporation.  As
a result, Moody's believes that it has inadequate information to
maintain the rating and will withdraw Broadcom Corporation's
ratings.

  Senior unsecured notes, to Ba2 (LGD6) from A2

The principal methodology used in these ratings was Semiconductor
Industry Methodology published in December 2015.

Broadcom Corporation, founded in 1991, is headquartered in Irvine,
California.  With $8.5 billion of revenue for the twelve months
ended September 2015, Broadcom is a leading fabless semiconductor
supplier, addressing both wired and wireless transmission of voice,
video, data and multimedia.


CCNG ENERGY: Guggenheim-Led Auction for Feb. 23 Set
---------------------------------------------------
CCNG Energy Partners, L.P., sought and obtained Bankruptcy Court
approval of the bidding procedures for the sale of certain
membership interests and other assets.

In addition, Guggenheim Corporate Funding, LLC, is designated as
the stalking horse, including, pursuant to the terms of the
Agreement, the requested break-up fee in the amount of $3,000,000
and expense reimbursement in an amount that will be determined
prior to the Auction, which will have administrative claim status
in the cases of the Debtors pursuant to section 503(b) of the
Bankruptcy Code.

CCNG and Guggenheim Corporate Funding, LLC, entered into a Purchase
Agreement on Dec. 2, 2015.  Under the Agreement, the total
consideration to be paid by Guggenheim to CCNG and its  operating
subsidiaries for the Assets will be the sum of (a) $100,000 in
cash, plus (b) a credit bid of obligations under the Prepetition
Credit Facility as well as any obligations incurred by the Debtors
under the Postpetition Credit Facility, plus (c) the assumption of
the Assumed Liabilities, plus (d) the assumption of the Assumed
Indebtedness.

Guggenheim is the administrative agent under the Prepetition Credit
Facility under which the Debtors owe a total of $185.5 million.  In
addition, Guggenheim is the DIP Agent under the $30 million
Postpetition Credit Facility.

Under the bidding procedures, each bid package must be received no
later than Feb. 19, 2016 at 4:00 p.m. (prevailing Central Time).
The amount of the purchase price in any bids for the Assets must
provide for value that is at least $250,000 more than the purchase
price contained in the Agreement, plus the amount of the Expense
Reimbursement and the Break-up Fee, and any incremental Transaction
Fees.  A Potential Bidder for the Assets must deposit 5% of the
purchase price under the Modified Agreement with counsel for the
Debtors in the form of a certified check or wire transfer on or
before the Bid Deadline.

In the event that the Debtors timely receive more than one
Qualified Bid, the Debtors will conduct the Auction which will take
place on Feb. 23, 2016.  The Court will conduct the sale hearing on
Feb. 25, 2016 at 2:00 p.m. (prevailing Central Time).

                         About CCNG Energy

CCNG Energy Partners, L.P. (the "Parent"), CCNG Energy Partners GP,
L.L.C. ("CCNG GP"), Trinity Environmental SWD, L.L.C., Trinity
Environmental Catarina SWD, L.L.C., Trinity Environmental Titan
Trucking, L.L.C., Moss Bluff Property, L.L.C. and Trinity
Environmental Services, L.L.C. (collectively, the "Operating
Subsidiaries") filed Chapter 11 bankruptcy petitions (Bankr. W.D.
Tex. Proposed Lead Case No. 15-70136) on Oct. 12, 2015.  The
petition was signed by Daniel B. Porter as CEO of General Partner.

All of the Debtors' operations are performed by the Operating
Subsidiaries.

The Debtors estimated both assets and liabilities in the range of
$100 million to $500 million.

Taube Summers Harrison Taylor Meinzer Brown LLP serves as the
Debtors' counsel.

Judge Ronald B. King is assigned to the case.

The Debtors are engaged in the disposal of produced saltwater and
waste from the exploration and production of oil and gas.

In 2015, the Office of the U.S. Trustee appointed six creditors to
the official committee of unsecured creditors.  The creditors are
Sun Coast Resources Inc., KBK Industries, Sabine Storage &
Operations Inc., Cambrian Management Ltd., WLP Oilfield Services,
and Dolphin Services & Chemicals LLC.


CCNG ENERGY: Michael Epstein Okayed as Chief Restructuring Officer
------------------------------------------------------------------
The Hon. Ronald B. King of the U.S. Bankruptcy Court for the
Western District of Texas modified the prior order authorizing CCNG
Energy Partners, LP, et al., to employ Deloitte Transactions and
Business Analytics LLP in order to authorize Deloitte to provide
certain of the Debtors with an interim vice president of finance
and related services.

Judge King also authorized the Debtors to designate Michael Epstein
as chief restructuring officer of certain of the Debtors nunc pro
tunc to Nov. 24, 2015.

The engagement letter dated Oct. 13, 2015, is modified to provide
that DTBA agreed to provide two of the Debtors with an interim vice
president of finance and to provide certain related services.

Mr. Epstein will be designated to serve as CRO for these same two
debtor-entities.

As CRO, Mr. Epstein is anticipated to provide, among other things:

   -- assist client in (i) identifying various operational,
managerial, financial and strategic restructuring alternatives and
(ii) understanding the business and financial impact of same;

   -- assist client in its preparation of contingency plans to
reflect the impact of restructuring alternatives, and assist in its
revision of relevant cash flow projections and business plans; and

   -- assist Client in connection with client's communications,
relationships, and negotiations with other parties, including its
lenders.

The engagement amendment adds that the services of Mr. Epstein as
CRO will be billed on an hourly basis at the rate of $745.

The Court also said that the prior order remains fully in effect
aside from the limited extent of giving effect to the engagement
amendment and permitting the retention of Mr. Epstein as CRO of
certain of the Debtors.

On Nov. 24, 2015, Judge King approved the employment of DTBA; and
(ii) designate Christopher Pizzo as interim vice president of
finance nunc pro tunc to oct. 12, 2015

The Debtors initially engaged DTBA as a business advisor in March
2015 after discussions with Guggenheim Corporate Funding, LLC, as
administrative agent wherein the Debtors and Guggenheim agreed that
a consulting firm would be helpful in assisting the Debtors in
navigating the downturn in the oil and gas industry due to a
decrease in commodity prices, assisting the Debtors with cost
reduction initiatives, and augmenting and facilitating
communication and reporting between the Debtors and Guggenheim.

DTBA's charge for the engagement are:

   a) Professional fees for the services of Pizzo as Interim VP
will be billed on an hourly basis at the rate of $495, but his fees
will not exceed $30,000 per week without prior approval of client.


   b) DTBA will be entitled to reimbursement of reasonable
expenses incurred in connection with the engagement.

   c) All fees and expenses will be billed to client weekly and are
payable upon receipt.

In addition to the foregoing, the Debtors will pay DTBA a retainer
in the amount of $100,000, to be held by DTBA and applied to DTBA's
final bill and to secure the fees and expenses it incurs in the
course of the engagement.

The Debtors are represented by:

         Christopher G. Bradley, Esq.
         Eric J. Taube, Esq.
         Mark C. Taylor, Esq.
         Cleveland R. Burke, Esq.
         TAUBE SUMMERS HARRISON TAYLOR MEINZER BROWN LLP
         100 Congress Avenue, 18th Floor
         Austin, TX 78701
         Tel: (512) 472-5997
         Fax: (512) 472-5248
         E-mails: etaube@taubesummers.com
                  mtaylor@taubesummers.com
                  cburke@taubesummers.com
                  cbradley@taubesummers.com

                         About CCNG Energy

CCNG Energy Partners, L.P. (the "Parent"), CCNG Energy Partners GP,
L.L.C. ("CCNG GP"), Trinity Environmental SWD, L.L.C., Trinity
Environmental Catarina SWD, L.L.C., Trinity Environmental Titan
Trucking, L.L.C., Moss Bluff Property, L.L.C. and Trinity
Environmental Services, L.L.C. (collectively, the "Operating
Subsidiaries") filed Chapter 11 bankruptcy petitions (Bankr. W.D.
Tex. Proposed Lead Case No. 15-70136) on Oct. 12, 2015.  The
petition was signed by Daniel B. Porter as CEO of General Partner.

All of the Debtors' operations are performed by the Operating
Subsidiaries.

The Debtors estimated both assets and liabilities in the range of
$100 million to $500 million.

Taube Summers Harrison Taylor Meinzer Brown LLP serves as the
Debtors' counsel.

Judge Ronald B. King is assigned to the case.

The Debtors are engaged in the disposal of produced saltwater and
waste from the exploration and production of oil and gas.

In 2015, the Office of the U.S. Trustee appointed six creditors to
the official committee of unsecured creditors.  The creditors are
Sun Coast Resources Inc., KBK Industries, Sabine Storage &
Operations Inc., Cambrian Management Ltd., WLP Oilfield Services,
and Dolphin Services & Chemicals LLC.


CEC ENTERTAINMENT: Moody's Lowers CFR to B3, Outlook Stable
-----------------------------------------------------------
Moody's Investors Service downgraded CEC Entertainment Inc.'s
Corporate Family Rating to B3 from B2 and Probability of Default
rating to B3-PD from B2-PD.  In addition, Moody's downgraded the
company's senior secured bank ratings to B2 from B1, and senior
unsecured note rating to Caa2 from Caa1.  The company's Speculative
Grade Liquidity Rating was affirmed at SGL-1.  The outlook is
stable.

RATINGS RATIONALE

"The ratings downgrade reflects CEC's persistently weak credit
metrics that were driven by higher than expected adjusted debt
levels and lower than anticipated earnings improvement" stated Bill
Fahy, Moody's Senior Credit Officer.  "The downgrade also
incorporates our view that the company's ability to material
improve credit metrics over the intermediate term through operating
performance alone will be challenging as soft consumer spending and
intense competitive pressures persist" stated Fahy.

The ratings downgraded are:

  Corporate Family Rating to B3 from B2

  Probability of Default Rating to B3-PD from B2-PD

  $150 million senior secured revolver due February 14, 2019, to
   B2 (LGD3) from B1 (LGD3)

  $750 million senior secured term loan B due February 14, 2021,
   to B2 (LGD3) from B1 (LGD3)

  $255 million 8% senior unsecured notes due February 15, 2022 to
   Caa2 (LGD5) from Caa1 (LGD5)

Ratings affirmed are:

  SGL-1 Speculative Grade Liquidity rating

The B3 Corporate Family Rating reflects CEC's high leverage and
weak coverage, driven in part by high adjusted debt levels and soft
same store sales performance and our concern that soft consumer
spending and competition will continue to pressure earnings and
debt protection metrics.  The ratings also incorporate the high
seasonality of CEC's earnings in the first quarter, store
concentration in California, Texas and Florida and relatively
aggressive financial policy.  The ratings are supported by CEC's
meaningful scale, reasonable level of brand awareness, and very
good liquidity.

The stable outlook reflects Moody's view that CEC's strategic
initiatives surrounding food and the overall customer experience
with an increased focus on parents should help to improve traffic
trends, earnings and debt protection metrics over time.  However,
the outlook also reflects Moody's view that soft consumer spending
and competitor pressures from other entertainment venues could make
it difficult to materially improve debt protection metrics through
stronger earnings growth alone over the intermediate term.

Factors that could result in an upgrade include a sustained
improvement in earnings driven by positive operating trends and
lower costs.  Specifically, an upgrade would require EBIT coverage
of interest expense above 1.5 times and debt to EBITDA of under 6.0
times on a sustained basis.  A higher rating would also require
very good liquidity.

Factors that could result in a downgrade include a deterioration in
liquidity for any reason or an inability to stabilize same store
sales.  A further deterioration in credit metrics from current
levels could also result in a downgrade.

CEC Entertainment, Inc., headquartered in Irving, Texas, owns,
operates, and franchises a total of 589 Chuck E.  Cheese stores and
140 Peter Piper Pizza locations that provide family-oriented
entertainment.  CEC is wholly owned by an affiliate of Apollo
Global Management, LLC.  Annual revenues are approximately $900
million.

The principal methodology used in these ratings was Restaurant
Industry published in September 2015.


CERES INC: Admits Going Concern Doubt, Expects Further Losses
-------------------------------------------------------------
Ceres, Inc., expects to incur further losses in the operations of
its business and has been dependent on funding its operations
through the issuance and sale of equity securities, according to
Paul Kuc, chief financial officer of the company, in a regulatory
filing with the U.S. Securities and Exchange Commission on January
14, 2016.

The company's accumulated deficit as of November 30, 2015 was
$335.5 million.  "Our cash and cash equivalents of $3.4 million as
of November 30, 2015 and net proceeds received of $6.4 million in
our public offering on December 17, 2015 is not sufficient to
enable us to remain in business beyond July 2016 without raising
further capital or significantly curtailing our operations," Mr.
Kuc pointed out.  

"These circumstances raise substantial doubt about our ability to
continue as a going concern."

Mr. Kuc elaborated: "During the fourth quarter of fiscal 2015, we
announced the continued realignment of our business to focus on
food and forage opportunities and biotechnology traits for
sugarcane and other crops.  The realignment primarily involved a
restructuring of our Brazilian seed operations.  The restructuring
of our Brazilian seed operations, included, among other actions, a
workforce reduction that impacted 33 positions in Brazil primarily
related to administration, operations and manufacturing as well as
2 support positions in the United States.  As of November 30, 2015,
these reductions have been substantially completed.  We have paid
total charges of approximately $1.4 million with respect to these
reductions, including $1.2 million of one-time severance expenses,
and $0.2 million for continuation of salary and benefits until
their work was completed.  We expect to save up to approximately
$8.0 to $10.0 million in cash in fiscal 2016 as a result of
restructuring our operations.  After full implementation of the
restructuring plan, our Brazilian operations will be focused on
sugarcane trait development activities for the Brazilian sugarcane
market.  There can be no assurance that we will achieve the cost
savings we expect in fiscal 2016 after fully implementing the
realignment plan.

"In July 2014, our Brazilian subsidiary was selected for a grant
and a multi-year credit facility to fund a product development
project for sorghum and sugarcane under the government's PAISS
Agricola program.  In light of the restructuring of our Brazilian
operations we have decided not to pursue the original project,
which focused primarily on sorghum, nor accept the non-repayable
grant tied to the original project plan.  We have approached the
Brazilian government to narrow the focus and significantly reduce
the size of the project.  We may still be eligible to utilize the
program's subsidized credit facility to fund certain development
and commercialization activities in Brazil."

At November 30, 2015, the company had total assets of $6,833,000,
total liabilities of $5,651,000 and total stockholders' equity of
$1,182,000.

For the three months ended November 30, 2015, the company incurred
a net loss of $3,419,000 as compared with a net loss of $5,973,000
for the three months ended November 30, 2014.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/jf4sxjx

Ceres, Inc. is an agricultural biotechnology company that develops
and markets seeds and traits to produce crops for feed, forages,
sugar and other markets.  The Thousand Oaks, California-based
company uses a combination of advanced plant breeding,
biotechnology and bioinformatics to develop seed products and
biotechnology traits to address many of the current limitations and
future challenges facing agriculture.


CHURCH STREET: Tenant Allowed to Amend Suit vs. Landlord
--------------------------------------------------------
Plaintiffs Bonnie Loren and Process Studio Theatre, Inc., move for
leave to amend the summons and complaint to add as defendants
Ashkenazy Acquisition Corp. and 257 Church Retail, LLC, Ushca Pohl,
Francesca Monari, Ming La, shareholders, officers or directors of
Church Street Apartment Corp., and Michael Ashkenazy, Ben
Ashkenazy, Izzy Ashkenazy and Ben Alpert, shareholders, officers or
directors of AAC.  The Plaintiffs further move to amend the
complaint to assert causes of action against all of the
defendants.

In 2002, the plaintiffs commenced an action against CSA and Solomon
Levine by C. Jaye Berger, Bankruptcy Trustee, in Supreme Court, New
York County, seeking millions of dollars in damages.  That
complaint asserted claims against CSA sounding in negligence and
breach of lease arising out of a flood that occurred in 2000.  The
Plaintiffs alleged that the flood occurred because of a ruptured
sprinkler pipe, that there was a leak before the pipe burst, that
the defendants were negligent in not preventing the pipe from
bursting and that as a result of the flood, theater construction
had to be suspended and property was damaged.  The Plaintiffs
alleged that water was not properly removed from the Premises
causing mold and illness.  The Plaintiffs explained that in order
to prepare the Premises for mold remediation, it was necessary to
repair the sidewalk that had previously caved in and that the
plaintiffs undertook to repair the sidewalk but the defendants
interfered with the repairs.  They urged that defendants caused the
plaintiffs to "abandon the leasehold and give up valuable rights."

AAC, 257 CR and the AAC Defendants oppose the motion.  CSA opposes
the motion to amend and cross-moves, in the event that the motion
is granted, to dismiss the amended complaint based on collateral
estoppel, res judicata, the existence of a release and passage of
the statute of limitations.

In a Decision dated January 8, 2016, which is available at
http://is.gd/h298BVfrom Leagle.com, the Supreme Court, New York
County, granted the plaintiffs' motion to amend the complaint, but
denied the Plaintiffs' motion as to all of the proposed individual
defendants.  CSA's cross-motion to dismiss is granted.

The case is BONNIE LOREN and PROCESS STUDIO THEATRE, INC.,
Plaintiffs, v. CHURCH STREET APARTMENT CORP., Defendant, 2016 NY
Slip Op 30031(U), Docket No. 152558/13.


CN RESOURCES: Posts Net Loss, Raises Going Concern Doubt
--------------------------------------------------------
CN Resources Inc. The company posted a net loss of $13,187 for the
three months ended November 30, 2015, compared with a net loss of
$10,631 for the three months ended November 30, 2014.

"The company has incurred a loss of $22,182 for the six months
ended November 30, 2015 and has an accumulated deficit of $760,484
since inception; further losses are anticipated in the development
of its business raising substantial doubt about the company's
ability to continue as a going concern," said Oliver Xing,
president, principal executive officer, principal accounting
officer, principal financial officer, secretary/treasurer and sole
member of the company's board of directors, in a regulatory filing
with the U.S. Securities and Exchange Commission on January 19,
2016.

"The ability to continue as a going concern is dependent upon the
Company generating profitable operations in the future and/or to
obtain the necessary financing to meet its obligations and repay
its liabilities arising from normal business operations when they
come due.  Management intends to finance operating costs over the
next twelve months with existing cash on hand and loans from
director and or private placements of common stock."

At November 30, 2015, the company had total assets of $4,930,274,
total liabilities of $40,730 and total stockholders' equity of
$4,889,544.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/hw7q2xy

Based in Toronto, Canada, CN Resources Inc. is an independent
energy company engaged in the exploration, development, production,
and sale of crude oil.  The company's operations are conducted
through a 100% wholly owned Ontario Corporation (also named CN
Resources Inc.) which owns a producing joint venture oil well in
the Redwater area in Alberta, Canada.


COTY INC: $500MM Share Buyback No Impact on Moody's 'Ba1' CFR
-------------------------------------------------------------
Moody's Investors Service said that Coty Inc.'s announcement that
the company's Board of Directors approved an additional $500
million share buyback authorization is credit negative, but that
the company's Ba1 CFR and stable outlook are not affected.

Coty Inc., headquartered in New York, NY, is one of the leading
manufacturers and marketers of fragrance, color cosmetics, and skin
and body care products.  The company's products are sold in over
130 countries and territories under well-recognized names such as
adidas, Calvin Klein, Chloe, Davidoff, Marc Jacobs, OPI,
philosophy, Playboy, Rimmel and Sally Hansen.  Coty announced the
$12.5 billion acquisition of Procter & Gamble's Beauty (P&G Beauty)
business on July 9th, 2015 and expects to close the transaction in
the second half of 2016.  In February 2016 the company closed the
$1 billion acquisition of the Brazilian personal care and beauty
business of Hypermarcas S.A.  Pro forma for both acquisitions sales
are around $10 billion.


COX INVESTMENTS II: Case Summary & 3 Top Unsecured Creditors
------------------------------------------------------------
Debtor: Cox Investments II, LLC
        2300 E. Ganson St.
        Jackson, MI 49202

Case No.: 16-41485

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Hon. Phillip J Shefferly

Debtor's Counsel: Donald C. Darnell, Esq.
                  DON DARNELL
                  7926 Ann Arbor St.
                  Dexter, MI 48130
                  Tel: (734) 424-5200
                  Fax: (734) 786-1605
                  Email: dondarnell@darnell-law.com

Total Assets: $446,400

Total Liabilities: $2.10 million

The petition was signed by Russell Cox, member.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/mieb16-41485.pdf


CRYOPORT INC: Effects Mandatory Exchange of Preferred Shares
------------------------------------------------------------
Cryoport, Inc., said in a regulatory filing that it caused the
mandatory exchange of all its outstanding Class A Preferred Stock
and Class B Preferred Stock, consisting of 454,750 shares of Class
A Preferred Stock and 534,571 shares of Class B Preferred Stock,
into (i) an aggregate of 4,977,038 shares of common stock, $0.001
par value per share, of the Company and (ii) an aggregate of
4,977,038 warrants, each warrant representing the right to purchase
one share of Common Stock.

The Mandatory Exchange was effected in accordance with the terms
and conditions of the Company's Amended and Restated Certificate of
Designation of Class A Preferred Stock and the Company's Amended
and Restated Certificate of Designation of Class B Preferred Stock.
In accordance with each of the Certificates of Designation, a
mandatory exchange of the Preferred Stock is triggered upon a
Qualified Offering.  The mandatory exchange occurs on the day that
is six months and one day after the closing of such Qualified
Offering.  On July 29, 2015, the Company completed its public
offering of 2,090,750 units (consisting of one share of Common
Stock and one Warrant) at the public offering price of $3.25 per
unit, which constituted a Qualified Offering. As a result, all
outstanding shares of Preferred Stock were automatically exchanged
at the Mandatory Exchange Time for such units sold in the Qualified
Offering (consisting of one share of Common Stock and one Warrant)
at an exchange rate determined by:

   1) multiplying the number of shares of Preferred Stock to be
      exchanged by the Class A Original Issue Price or Class B
      Original Issue Price (as defined in the Certificates of
      Designation), as applicable;

   2) adding to the result all dividends then accrued but unpaid
      on such shares of Preferred Stock to be exchanged; then

    3) dividing the result by $2.60 (which is eighty percent (80%)

       of the price per unit issued in the Qualified Offering).

The issuance of the Securities in connection with the Mandatory
Exchange was exempt from registration pursuant to Section 3(a)(9)
of the Securities Act of 1933, as amended.

                        About Cryoport

Lake Forest, Calif.-based CryoPort, Inc. (OTC BB: CYRX) provides
comprehensive solutions for frozen cold chain logistics, primarily
in the life science industries.  Its solutions afford new and
reliable alternatives to currently existing products and services
utilized for bio-pharmaceuticals and biologics, including in-vitro
fertilization, cell lines, vaccines, tissue and other commodities
requiring a reliable frozen solution.

As of Sept. 30, 2015, the Company had $8.91 million in total
assets, $2.19 million in total liabilities and $6.71 million in
total stockholders' equity.

Cryoport reported a net loss attributable to common stockholders of
$12.2 million for the year ended March 31, 2015, compared to a net
loss attributable to common stockholders of $19.6 million for the
year ended March 31, 2014.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" qualification on the consolidated financial
statements for the year ended March 31, 2015, citing that the
Company has incurred recurring operating losses and has had
negative cash flows from operations since inception.  Although the
Company has cash and cash equivalents of $1.4 million at March 31,
2015, management has estimated that cash on hand, which include
proceeds from Class B convertible preferred stock received
subsequent to the fourth quarter of fiscal 2015, will only be
sufficient to allow the Company to continue its operations into the
third quarter of fiscal 2016.  These matters raise substantial
doubt about the Company's ability to continue as a going concern,
the auditors said.


CUSTOM SOFTWARE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Custom Software, Inc.
           dba M33 Access
           dba TWD Communications
           dba Net4Kids.com, Inc.
        PO Box 219
        Rose City, MI 48654

Case No.: 16-20173

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       Eastern District of Michigan (Bay City)

Judge: Hon. Daniel S. Opperman

Debtor's Counsel: Rozanne M. Giunta, Esq.
                  LAMBERT LESER, ATTORNEYS AT LAW
                  916 Washington Ave., Suite 309
                  Bay City, MI 48708
                  Tel: (989) 893-3518
                  Fax: (989) 894-2232
                  Email: rmgiunta@lambertleser.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Glenn A. Wilson Sr., president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mieb16-20173.pdf


D.J. CHRISTIE: Court Affirms Approval of Deal with Meyer, Pratt
---------------------------------------------------------------
Liberty Bank appeals from the bankruptcy court's March 4, 2015
memorandum opinion and judgment approving the settlement agreement
between D.J. Christie, Inc., David J. Christie, and Alexander
Glenn, and Alan E. Meyer and John R. Pratt.

On appeal of the first bankruptcy decision, the court  United
States District Court for the District of Kansas reversed in part
and remanded the case for the bankruptcy court to consider Liberty
Bank's priority in the $7,170,703 affirmed by the Tenth Circuit in
deciding whether to approve the Settlement Agreement.  The
bankruptcy court considered Liberty Bank's priority on remand and
determined that the offsets of the Iowa Judgments against the
Federal Judgment had priority over Liberty Bank's rights as
garnishor.  Liberty Bank appeals again.

In a Memorandum Order dated January 13, 2016, which is available at
http://is.gd/OvKbuZfrom Leagle.com, Judge Carlos Murguia of the
United States District Court for the District of Kansas affirmed
the decision of the bankruptcy court.

The case is LIBERTY BANK, F.S.B., Appellant, v. D.J. CHRISTIE,
INC., et al., Appellees, Case No. 15-4861-CM.

Liberty Bank, F.S.B., Appellant, is represented by David E. Shay,
Esq. -- dshay@sb-kc.com -- Seigfreid Bingham PC.

D.J. Christie, Inc., Appellee, is represented by Todd A. Luckman,
Esq. -- todd@stumbolaw.com  -- Stumbo Hanson LLP & Tom R. Barnes,
II, Esq. -- todd@stumbolaw.com  -- Stumbo Hanson LLP.

Overland Park, Kansas-based D.J. Christie Inc. filed for Chapter
11 bankruptcy (Bankr. D. Kan. Case No. 11-40764) on May 20, 2011.
Judge Dale L. Somers presides over the case.  Kathryn E. Sheedy,
Esq., and Tom R. Barnes, II, Esq., at Stumbo Hanson, LLP, serve
as the Debtor's counsel.  In its petition, the Debtor estimated
$1 million to $10 million in assets and under $1 million in debts.
The petition was signed by David J. Christie, its president.


DRUG STORES II: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: Drug Stores II, Limited Liability Company
           dba Innovo Specialty Compounding Solutions
           dba Innovo Specialty Pharmacy
           dba Health Shoppe Pharmacy
        279 Princeton Hightstown Road
        East Windsor, NJ 08520

Case No.: 16-12198

Chapter 11 Petition Date: February 6, 2016

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

Judge: Hon. Kathryn C. Ferguson

Debtor's Counsel: Justin B. Singer, Esq.
                  HERRICK FEINSTEIN LLP
                  Two Park Ave.
                  New York, NY 10016
                  Tel: 212-592-5928
                  Fax: 212-592-2346
                  Email: jsinger@herrick.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Piushbhai Patel, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb16-12198.pdf


EXTREME PLASTICS: Feb. 10 Meeting Set to Form Creditors' Panel
--------------------------------------------------------------
Andy Vara, Acting United States Trustee of Region 3, will hold an
organizational meeting on Feb. 10, 2016, at 1:00 p.m. in the
bankruptcy case of Extreme Plastics Plus, Inc., et al.

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

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

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

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

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


FELD LIMITED: Files for Chapter 11 Bankruptcy Protection
--------------------------------------------------------
Feld Limited Partnership filed a Chapter 11 bankruptcy petition
(Bank. E.D. Wisc. Case No. 16-20826) on Feb. 3, 2016, disclosing
total assets of $15.2 million and total debt of $7.50 million.
Dennis J. Feld, the Debtor's general partner, signed the petition.

The Company is engaged in the business of leasing and managing real
properties in the Madison and Green Bay areas.  It made the
decision to file for bankruptcy after Humana, its main tenant,
notified it was considering leaving a 65,000 square foot facility
owned by the Debtor at 300 Madison Street in Green Bay, Wisconsin.
The lease with Humana expired April 20, 2015, but was extended
through March 31, 2016.

According to a document filed with the Court, Associated Bank,
secured lender of Feld Limited, had been informed regarding
Humana's decision to leave.  The Debtor and Associated Bank entered
into a series of forbearance agreements in connection with a note
that was due November 2014 to allow the Debtor to secure
replacement tenants.  However, when it became apparent that no new
tenants had been found, Associated Bank refused to further renew
the forbearance agreement after Jan. 31, 2016.

The Debtor said Associated Bank had frozen its bank accounts, and
as a result, it has been unable to pay its obligations as they come
due and has been unable to pay payroll.   Additionally, in light of
the circumstances, Associated Bank required the liquidation of the
Debtor's properties, one of which was located at 414 E. Walnut
Street in Green Bay, Wisconsin, which sold for $800,000, generating
a taxable event in the amount of $105,000.  

As of the Petition Date, the Debtor owed Associated Bank
approximately $7.2 million.

Steinhilber, Swanson, Mares, Marone & McDermott acts as the
Debtor's counsel.


FIDELITY & GUARANTY: S&P Keeps 'BB-' Rating on Watch Developing
---------------------------------------------------------------
Standard & Poor's Ratings Services said that it is keeping its
'BBB-' long-term counterparty credit and financial strength ratings
on Fidelity & Guaranty Life Insurance Co. and its related insurance
subsidiary, Fidelity & Guaranty Life Insurance Co. of New York
(collectively FGL) on CreditWatch with developing implications.
S&P is also keeping its 'BB-' long-term counterparty credit rating
on Fidelity & Guaranty Life Holdings Inc. on CreditWatch with
developing implications.

The CreditWatch reflects S&P's currently limited information about
Anbang Insurance Group Co. Ltd.'s creditworthiness in light of its
November 2015 announcement that it intends to acquire 100% of FGL.
Anbang appears to be growing rapidly through acquisition, including
the 2015 acquisition of Dutch insurer VIVAT N.V.

"To settle the CreditWatch placement we will continue to work with
Anbang to determine the creditworthiness of the consolidated
organization of which FGL is becoming a part," said Standard &
Poor's credit analyst Shellie Stoddard.  FGL will become a member
of the Anbang insurance group and our ratings will factor in
Anbang's group credit profile, group status, and any other caps or
enhancements.

S&P expects to resolve the CreditWatch placement once it assess
Anbang's creditworthiness.  If S&P do not make progress in
obtaining adequate financial information from Anbang within the
next 90 days, it will suspend or possibly withdraw its ratings on
FGL.


FOUNTAINS OF BOYNTON: Case Summary & 17 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Fountains of Boynton Associates, Ltd.
        6849 Cobia Circle
        Boynton Beach, FL 33437

Case No.: 16-11690

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: February 5, 2016


Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Hon. Erik P. Kimball

Debtor's Counsel: Bradley S Shraiberg, Esq.
                  SHRAIBERG, FERRARA, & LANDAU P.A.
                  2385 NW Executive Center Dr. #300
                  Boca Raton, FL 33431
                  Tel: (561) 443-0801
                  Fax: (561) 998-0047
                  Email: bshraiberg@sfl-pa.com

Estimated Assets: $50 million to $100 million

Estimated Debts: $50 million to $100 million

The petition was signed by John B. Kennelly, manager.

List of Debtor's 17 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Advanced Fire & Security             Fire Alarm             $460
                                     Monitoring

AT&T                                   Phone                $150

Flatiron Capital Insurance             Monthly           $19,500
                                      Insurance

Florida Department of Revenue          Monthly           $14,000
                                      Estimated
                                      Sales Tax

Florida Power & Light                 Utilities           $2,700

Future Energy Solutions Contracts      Monthly            $1,809
                                        Draft

Hessler Paint & Decorating Center II   Judgment          $16,435
  
Internal Revenue Service                                 Unknown

Internal Revenue Service                                 Unknown

Office of Attorney General                               Unknown

Palm Beach County                      Utilities          $4,000

Republic Services                      Utilities          $2,400

SEC Headquarters                                         Unknown

Securities and Exchange Commission                       Unknown

Specimen Tree and Landscape           Maintenance     $1,610,573
Service Specialized Industries
Inc.

United States Attorney                                   Unknown
General's Office

US Attorney
Southern District of Florida                             Unknown


FREEDOM INDUSTRIES: Fined $900K Over Chemical Spill
---------------------------------------------------
Dow Jones' Daily Bankruptcy Review reported that a bankrupt
chemical company responsible for a spill that contaminated a West
Virginia river and fouled the drinking water supply of 300,000
residents was fined $900,000 on pollution charges on Feb. 4, with a
judge noting that Freedom Industries likely could never pay it.

"I might as well enter the maximum fine," U.S. District Judge
Thomas Johnston said, the report cited.  "It's all symbolic
anyway."

                     About Freedom Industries

Freedom Industries Inc. is engaged principally in the business of
producing specialty chemicals for the mining, steel and cement
industries.  The Debtor operates two production facilities located
in (a) Nitro, West Virginia; and (b) Charleston, West Virginia.

The company, connected to a chemical spill that tainted the water
supply in West Virginia, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. W.Va. Case No. 14-bk-20017) on Jan.
17, 2014.  The case is assigned to Judge Ronald G. Pearson. The
petition was signed by Gary Southern, president.

The Debtor is represented by Mark E Freedlander, Esq., at McGuire
Woods LLP, in Pittsburgh, Pennsylvania; and Stephen L. Thompson,
Esq., at Barth & Thompson, in Charleston, West Virginia.

On Dec. 31, 2013, four companies merged under the umbrella of
Freedom Industries: Freedom Industries Inc., Etowah River
Terminal LLC, Poca Blending LLC and Crete Technologies LLC.

The Debtor disclosed $16 million in assets and $6 million in
liabilities when it filed for bankruptcy.

On Feb. 5, 2014, the U.S. Trustee appointed an official committee
of unsecured creditors.  The Committee retained Frost Brown Todd
LLC as counsel.

On March 18, 2014, the Bankruptcy Court approved the hiring of
Mark Welch at Morris Anderson in Chicago as Freedom's chief
restructuring officer.

                         *     *     *

The effective date of Freedom Industries Inc.'s liquidating plan
occurred Nov. 16, 2015, when all initial distributions to
creditors
were made.

On Oct. 6, 2015, the U.S. Bankruptcy Court for the Southern
District of West Virginia entered an Order Confirming The Debtor's
Third Modified Amended Chapter 11 Plan Of Liquidation.  The
Confirmation Order confirmed and approved the Debtor's Third
Modified Amended Plan of Liquidation dated Aug. 12, 2015.

The definition of Effective Date under the Plan is a Business Day
after the Confirmation Date as mutually agreed by the Debtor and
the Committee that is as soon as reasonably practicable after the
conditions to the effectiveness of the Plan specified in Section
10.1 have been satisfied.

Section 10.1 of the Plan contains six conditions precedent to the
Effective Date of the Plan.  All such conditions have been
satisfied or waived.

On Nov. 16, 2015, the Debtor made all initial distributions
required under the Plan, including without limitation, payments
to:
(i) the Spill Claim Plan Administrator with respect to
(a) the payment due to the ERT Remediation Fund from the Debtor,
(b) payment to the Spill Claim Plan Administrator with respect to
Class 4 Spill Claims; and (c) payment to Spill Claim Plan
Administrator with respect to Class 5 Spill Claims; and (ii)
payment to the GC Plan Administrator with respect to Class 3
General Unsecured Claims.


FRESH & EASY: Seeks May 27 Extension of Plan Filing Period
----------------------------------------------------------
Fresh & Easy, LLC, asks the U.S. Bankruptcy Court for the District
of Delaware to extend the exclusive plan filing period through and
including May 27, 2016, and the exclusive solicitation period
through and including July 26, 2016.

According to J. Kate Stickles, Esq., at Cole Schotz P.C., in
Wilmington, Delaware, the Debtor has been operating under the
protection of chapter 11 for approximately three months, and during
this short period of time has made significant and material
progress in administering the Chapter 11 Case.  The extension will
provide the Debtor and its advisors the opportunity to fully
negotiate, confirm and implement the terms of a chapter 11 plan for
the distribution of assets to creditors, Ms. Stickles says.

The Debtor is also represented by Norman L. Pernick, Esq., Patrick
J. Reilley, Esq., and David W. Giattino, Esq., at Cole Schotz P.C.,
in Wilmington, Delaware.

                        About Fresh & Easy

Fresh & Easy, LLC, a chain of grocery stores in the Southwest
United States, filed Chapter 11 bankruptcy petition (Bankr. D.
Del., Case No. 15-12220) on Oct. 30, 2015.  The petition was signed
by Peter McPhee as chief financial officer.  The Debtor estimated
assets of $10 million to $50 million and liabilities of at least
$100 million.

The Debtor has engaged Cole Schotz P.C. as counsel, Epiq Bankruptcy
Solutions, LLC as claims and noticing agent, DJM Realty Services,
LLC and CBRE Group, Inc., as real estate consultants and
FTI Consulting, Inc. as restructuring advisors.

Judge Christopher S. Sontchi is assigned to the case.


FRONTIER COMMUNICATIONS: Fitch Affirms 'BB' Issuer Default Rating
-----------------------------------------------------------------
Fitch Ratings has affirmed the Issuer Default Rating (IDR) and
long-term issue ratings of Frontier Communications Corporation
(Frontier; NYSE: FTR) and assigned Recovery Ratings to the debt
issuances as follows:

-- IDR at 'BB';

-- Senior unsecured $750 million revolving credit facility due
    2018 at 'BB/RR4';

-- Senior unsecured notes and debentures at 'BB/RR4'.

The Rating Watch Negative is removed from all ratings, and the
Rating Outlook is Negative.

In addition, Fitch has revised the ratings of other Frontier
subsidiaries and assigned Recovery Ratings as listed at the end of
this release.

The Rating Outlook is Negative, as Fitch does not expect Frontier
to reach Fitch's net leverage threshold of 3.75x for the current
rating until approximately the end of 2017. The Negative Watch
stemmed from Frontier's plans to acquire certain wireline
operations in California, Texas and Florida from Verizon
Communications Inc. for approximately $10.54 billion, including
$600 million of assumed debt. The transaction was announced in
February 2015 and is expected to close at the end of March 2016.
All necessary regulatory approvals have been obtained and Frontier
is completing necessary system conversions, as planned, before the
close of the transaction.

Frontier has raised or entered into bank financing arrangements for
all the financing necessary to close the transaction. In September
2015, Frontier raised the remaining $6.6 billion needed to close
the transaction, after taking into account previous debt and equity
financings. In August 2015, Frontier entered into an agreement for
a $1.5 billion senior secured delayed draw term loan. The proceeds
from a common equity and mandatory convertible preferred offerings
were raised in June 2015 and net proceeds total approximately $2.7
billion, including proceeds from the exercise of overallotments.
The preferred offering was given 100% equity credit.

Upon the draw of the senior secured term loan, the company's
existing $750 million unsecured revolving credit facility and
unsecured term loans will become equally and ratably secured with
the delayed draw term loan. Combined with other secured debt, the
pledges will introduce approximately $2.3 billion of secured debt
into the capital structure, excluding potential drawings on the
currently undrawn revolving credit facility. At this time, Fitch
has not upgraded the revolver or rated the senior secured, delayed
draw term loan but anticipates upgrading the revolver, which
becomes secured, to 'BB+/RR1', and assigning a 'BB+/RR1' rating to
the term loan at the close of the transaction.

There is no rating action at this time on the debt or IDR of the
three Verizon subsidiaries that are being acquired by Frontier,
which are rated as follows:

Verizon California
Verizon Florida
-- IDR 'A-';
-- Senior unsecured 'A-'.

GTE Southwest
-- IDR 'A-';
-- First mortgage bonds 'A-'.

Fitch had previously maintained these subsidiaries on Rating Watch
Negative in December 2015 when Verizon was reviewed. Fitch
anticipates downgrading the IDR of these issuers to 'BB' and
downgrading the senior unsecured and mortgage bonds to 'BB+/RR1' at
the time of the close of the transaction.

KEY RATING DRIVERS

Leverage Elevated for Rating: Excluding $6.6 billion of senior
notes issued to fund the Verizon transaction, leverage declined to
4.1x at Sept. 30, 2015 from 4.5x the previous year (leverage at
3Q'14 included $2 billion of debt issued to fund the October 2014
close of the Connecticut acquisition). However, leverage remains
slightly elevated compared to expectations of leverage maintained
under 4x for the current rating category. Frontier will need
additional time to deleverage to incorporate the Verizon assets
into its operations. Fitch estimates Frontier's pro forma gross
leverage could be 4.5x at the close of the transaction (4.3x net
leverage).

Acquisitions Improve Scale: Fitch believes the acquisition of the
Connecticut operations in late 2014 and the pending acquisition of
the Verizon properties will increase the scale of Frontier, and
lead to improved free cash flow (FCF, defined as net cash provided
by operating activities less capital spending and dividends) over
time. In Fitch's view, the two acquisitions will not require
material additional capital spending given past network upgrades by
AT&T and Verizon.

Revenue Pressures Moderating: During the first three quarters of
the year, Frontier's revenues have been relatively stable, with a
slight downward bias. Pro forma revenues for the Verizon assets
through the first two quarters demonstrate similar results. A key
issue for Frontier over time will continue to be retaining and
attracting customers.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for the issuer
include:

-- In 2016, Frontier's consolidated revenues are expected to rise

    to approximately $10 billion owing to the expected close of
    the Verizon line acquisition at the end of March 2016;

-- 2016 EBITDA margins are in the low 40 percent range. Fitch has

    conservatively assumed synergies for the first year following
    the close of the transaction will be $500 million, slightly
    less than the expectations by Frontier of day one synergies of

    $525 million. While there is some risk that costs could vary
    around this metric, the synergies represent costs allocated to

    these properties by Verizon that will no longer occur as
    operations are flash cut to Frontier's systems. Frontier has
    achieved its synergy targets in previous recent transactions;

-- Capex is expected to be in the range of $1.6 billion to $1.7
    billion in 2016. Fitch's assumptions reflect capital spending
    related to operations in the range of 12% to 12.5% of revenues

    for legacy Frontier and the Verizon properties, with
    additional capital spending for CAF II and integration;

-- Other than the $1.5 billion drawn on the senior secured term
    loan to complete the Verizon transaction, Fitch forecasts only

    a modest debt issuance in 2017 to maintain cash balances of
    approximately $500 million during the 2016 to 2018 period.

RATING SENSITIVITIES

The Outlook could be revised to Stable if in Fitch's view Frontier
will be able to sustain post-transaction net leverage at or below
3.75x. Fitch has revised the net leverage threshold down to 3.75x
from 4.0x owing to the continued secular challenges faced by the
wireline industry. Business services revenue has been slower than
Fitch's previously expected levels of GDP-type growth owing to
factors such as aggressive cable operator competition and slow
economic growth.

The rating could be downgraded if net leverage is expected to be
above 3.75x due to a number of factors, including lower synergy
realization or assumptions, and competitive pressures on EBITDA.
Revenue pressures in the wireline industry have moderated, but a
return to mid-single digit declines in revenue, while not expected,
would lead to a negative action.

LIQUIDITY

Manageable Maturities: Excluding the draw on the senior secured
term loan related to the Verizon transaction financing, Frontier is
not expected to need to access the capital markets to refinance
maturing debt through at least 2016. Existing principal repayments
amount to approximately $384 million and $646 million during 2016
and 2017, respectively.

Liquidity Solid: Supporting the rating is Frontier's ample
liquidity, which is derived from its cash balances and its $750
million revolving credit facility. At Sept. 30, 2015, Frontier had
$1.011 billion in balance sheet cash, excluding $8.44 billion of
restricted cash which will be released upon the closing of the
Verizon transaction to fund a portion of the purchase price.

Credit Facility: The $750 million senior unsecured revolving credit
facility is in place until May 2018. The facility is available for
general corporate purposes but may not be used to fund dividend
payments. The revolving credit facility will become secured when
the company draws on its $1.5 billion delayed draw secured term
loan facility upon the funding of the Verizon transaction. The main
financial covenant in the revolving credit facility requires the
maintenance of a net debt-to-EBITDA level of 4.5x or less during
the entire period. Net debt is defined as total debt less cash
exceeding $50 million.

FULL LIST OF RATING ACTIONS

Fitch has removed the following ratings from Rating Watch Negative
and affirmed and assigned Recovery Ratings as follows:

Frontier Communications Corporation

-- IDR at 'BB';

-- Senior unsecured $750 million revolving credit facility due
    2018 at 'BB/RR4';

-- Senior unsecured notes and debentures at 'BB/RR4'.

Frontier North Inc.

-- IDR at 'BB';
-- $200 million unsecured notes due 2028 at 'BB+/RR1'.

Frontier West Virginia

-- IDR at 'BB';
-- $50 million private placement notes due 2029 at 'BB+/RR1'.


GENWORTH HOLDINGS: Moody's Lowers Sr. Unsecured Debt Rating to Ba3
------------------------------------------------------------------
Moody's Investors Service has downgraded the credit ratings of
Genworth Holdings, Inc. -- senior unsecured debt downgraded to Ba3
from Ba1, the insurance financial strength ratings of Genworth Life
Insurance Company (GLIC) and Genworth Life Insurance Company of New
York (GLICNY) to Ba1 from Baa1, and the IFS rating of Genworth Life
and Annuity Insurance Company (GLAIC) to Baa2 from Baa1.

The rating action follows Genworth's announcement on Feb. 4, 2016,
that the company was suspending sales of life and fixed annuity
products and actively seeking multiple restructuring options to
separate and isolate its long term care (LTC) business. The outlook
on Genworth Holdings and its life insurance subsidiaries is
stable.

The rating agency also confirmed the Ba1 IFS rating of Genworth
Mortgage Insurance Corporation (GMICO) with a stable outlook.  This
rating action concluded the review for upgrade that was initiated
on Nov. 3, 2015.  No other Genworth ratings were on review.

The ratings on Genworth's Australian mortgage insurance (MI)
operations (A3 IFS rating, negative) are not part of this rating
action.

RATINGS RATIONALE

Moody's downgrade of Genworth Holdings and its life insurance
subsidiaries is largely driven by the deterioration in the
financial flexibility of the holding company, somewhat offset by
the company’s recent announcement that it was exploring options
to separate and isolate its underperforming LTC business.

"While Genworth has meaningful holding company resources, including
its stake in its global mortgage insurance operations and net cash
and investments of over $1 billion, it has modest dividend capacity
in aggregate from its insurance subsidiaries, relative to its debt
load," said Moody's Senior Vice President Scott Robinson.
"Furthermore, although Genworth has been successful with a number
of transactions over the past year, and recently redeemed its 2016
debt maturity, the larger upcoming debt maturities -- in 2018, and
especially 2020 and 2021 -- weigh on our view of the company’s
financial flexibility."

The credit rating agency said the downgrade of the IFS ratings of
GLIC/GLICNY to Ba1 from Baa1 is due to the deterioration in the
holding company's financial flexibility, as well as the two
companies’ expected further concentration in long duration and
volatile LTC business given the company's plan to separate and
isolate the LTC business.  Specifically, the downgrade reflects
GLIC/GLICNY's stand-alone credit profile given its LTC
concentration, and removes the rating uplift previously provided by
the diversification within the companies and embedded profits in
the life and annuity business in GLAIC.

The downgrade of the IFS rating of GLAIC to Baa2 from Baa1 is due
to the deterioration of the company's business profile, as
evidenced by its poor life and annuity sales and anticipated runoff
status, as well as the deterioration in the group’s financial
flexibility.

Commenting on the stable outlook on the Ba3 holding company senior
debt rating, Moody’s noted that while the company is in a state
of transition, its expectation is that the current ratings are
appropriately positioned at the new level.  Furthermore, the stable
outlook on the ratings reflects Moody’s view that additional
material deterioration is unlikely to occur over the 12-18 month
time horizon of an outlook, as well as the fact that at the lower
rating level, more potential volatility from Genworth is
anticipated and incorporated into the current rating.

Moody's added that its confirmation of GMICO's Ba1 IFS rating with
a stable outlook balances GMICO's improving fundamentals, including
compliance with Fannie Mae's and Freddie Mac's capital standards,
against the deterioration of financial flexibility at Genworth
Holdings, as reflected in Moody's downgrade of the holding
company's debt.  Because of the group's weakened financial
flexibility, Moody's believes that GMICO is unlikely to receive
meaningful support from the group if the need arose and,
conversely, would likely pay dividends to the parent once
meaningful dividend capacity has been restored.

Rating Drivers -- US life insurance operating subsidiaries

Moody's stated that these factors could result in GLAIC's rating
being upgraded: 1) stability in statutory earnings and return on
statutory surplus greater than 10%, and 2) improvement in financial
flexibility at the holding company (i.e., reduction in and/or
refinancing of 2018 and 2020/2021 debt maturities).

Moody's stated that the following factors could result in
GLIC's/GLICNY's ratings being upgraded: 1) significant LTC rate
approvals and/or other actions that help grow margins in the legacy
LTC book of business, and 2) improvement in financial flexibility
at the holding company (i.e., reduction in and/or refinancing of
2018 and 2020/2021 debt maturities).

Conversely, factors that could result in a downgrade of GLAIC's
rating include: 1) RBC ratio less than 350% of company action level
(CAL), 2) return on statutory surplus less than 5%, and 3) lack of
progress in addressing upcoming debt maturities in 2018 and
2020/2021.

Factors that could result in a downgrade of GLIC's/GLICNY's ratings
include: 1) further deterioration of the margins on LTC reserves,
increasing the probability of a material reserve charge in the
future, 2) RBC ratio less than 300% CAL, and 3) denial of LTC rate
approvals, pressuring reserve adequacy of legacy LTC business.

Rating Drivers -- US mortgage insurance

An improvement in the group's financial flexibility, including a
clear path to managing the debt maturities in 2018 and 2020/2021,
could lead to an upgrade of GMICO's rating.  Conversely, a further
decline in the group's financial flexibility or non-compliance with
Fannie Mae's and Freddie Mac's capital standards could lead to a
downgrade of GMICO.

Rating Drivers -- Holding company

These could result in an upgrade of the holding company's ratings:


1) An upgrade of Genworth's life insurance subsidiaries and/or an
upgrade of the US MI operations; and 2) successful separation and
isolation of the LTC business and improvement of holding company
financial flexibility (i.e., reduction in and/or refinancing of
2018 and 2020/2021 debt maturities).  Conversely, these could
result in a downgrade of the holding company's ratings: 1) further
downgrade of the US life insurance operations; and 2) lack of
progress in addressing upcoming debt maturities in 2018 and
2020/2021.

These ratings were downgraded with a stable outlook:

  Genworth Holdings, Inc.: backed senior unsecured to Ba3 from
   Ba1, backed junior subordinate to B1 (hyb) from Ba2 (hyb),
   backed provisional senior unsecured shelf to (P)Ba3 from
   (P)Ba1, backed provisional subordinate shelf to (P)B1 from
   (P)Ba2;

  Genworth Life Insurance Company: insurance financial strength to

   Ba1 from Baa1;

  Genworth Life Insurance Company of New York: insurance financial

   strength to Ba1 from Baa1;

  General Repackaging ACES SPC 2007-2, 3, 7: funding agreement-
   backed senior secured notes to Ba1 from Baa1;

  Genworth Life and Annuity Insurance Company: insurance financial

   strength to Baa2 from Baa1.

  Genworth Global Funding Trusts: funding agreement-backed senior
   secured MTN notes to Baa2 from Baa1.

This rating was confirmed with a stable outlook:

  Genworth Mortgage Insurance Corporation -- Ba1 insurance
   financial strength.

Genworth Holdings is the intermediate holding company of Genworth
Financial, Inc., an insurance and financial services holding
company headquartered in Richmond, Virginia.  The group reported a
net operating loss of $255 million for 2015, compared with a loss
of $398 million for period one year earlier.

The principal methodologies used in rating Genworth Holdings, Inc.
were Global Life Insurers published in December 2015, and Mortgage
Insurers published in December 2015.  The principal methodology
used in rating Genworth Mortgage Insurance Corporation was Mortgage
Insurers published in December 2015.  The principal methodology
used in rating Genworth Life Insurance Company, Genworth Life
Insurance Company of New York, General Repackaging ACES SPC 2007-2,
General Repackaging ACES SPC 2007-3, General Repackaging ACES SPC
2007-7, Genworth Life and Annuity Insurance Company, and Genworth
Global Funding Trusts was Global Life Insurers published in
December 2015.

Moody's insurance financial strength ratings are opinions of the
ability of insurance companies to pay punctually senior
policyholder claims and obligations.


GLOBAL ENERGY: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Global Energy Efficiency Holdings, Inc.
        14 Bruckner Blvd, 3rd Floor
        Bronx, NY 10454

Case No.: 16-10289

Chapter 11 Petition Date: February 7, 2016

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

Debtor's Counsel: Armando Llorens, Esq.
                  FURGANG & ADWAR LLP
                  1325 Avenue of the Americas, 28th Fl
                  New York, NY 10019
                  Tel: 212-725-1818
                  Fax: 212-725-1818
                  Email: armando@furgang.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $10 million to $50 million

The petition was signed by Vladimir Reynoso, chief executive
officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nysb16-10289.pdf


GOLDEN MARINA: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Golden Marina Causeway, LLC
        5611 Walnut Ave.
        Downers Grove, IL 60516

Case No.: 16-03587

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Hon. Carol A. Doyle

Debtor's Counsel: Jeffrey K. Paulsen, Esq.
                  THE LAW OFFICE OF WILLIAM J. FACTOR, LTD
                  105 W. Madison, Suite 1500
                  Chicago, IL 60602
                  Tel: (312) 878-0969
                  Email: jpaulsen@wfactorlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Lawrence D. Fromelius, manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-03587.pdf


HANCOCK FABRICS: Feb. 10 Meeting Set to Form Creditors' Panel
-------------------------------------------------------------
Andy Vara, Acting United States Trustee of Region 3, will hold an
organizational meeting on Feb. 10, 2016, at 10:00 a.m. in the
bankruptcy case of Hancock Fabrics, Inc., et al.

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

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

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

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

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


HASKELL PROPERTIES: Tells Court Buyout Conferred Cleanup Coverage
-----------------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reported that Haskell
Properties LLC on Feb. 2, 2016, urged a New Jersey appeals court to
breathe new life into its suit for environmental cleanup coverage
against carriers that insured the bankrupt former owner of a
contaminated property, contending that it was properly assigned the
policies through an asset purchase deal.

Haskell wants to unwind the dismissal that Great American Insurance
Co. of New York, American Insurance Co., Fireman's Fund Insurance
Co., and St. Paul Fire & Marine Insurance Co. won in 2014.

Haskell Properties, Inc., a real estate agent, filed a Chapter 11
petition (Bankr. M.D.N.C. Case No. 08-80596) in Durham, North
Carolina on April 21, 2008.  J. Marshall Shelton, Esq., at Ivey,
McClellan, Gatton & Talcott, LLP, in Greensboro, North Carolina,
serves as counsel.  The Debtor estimated $1 million to $10 million
in assets and debt.


HENRY LONDON ANDERSON: Law Firm Loses Ch. 11 Fees Due to Tax Lien
-----------------------------------------------------------------
Diane Davis, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that a secured tax claim owed by a debtor takes priority
in a Chapter 7 liquidation over the legal fees owed to a law firm
that represented the debtor in his Chapter 11 case, which was later
converted to one under Chapter 7, the U.S. Court of Appeals for the
Fourth Circuit held Jan. 26.

According to the report, as a result of the Fourth Circuit's ruling
on the tax subordination issue, the law firm that represented the
debtor in his Chapter 11 case won't receive nearly $200,000 in
administrative expenses because there won't be enough money left
out of the bankruptcy estate after paying the IRS's secured tax
claim.

Affirming the bankruptcy and district court judgment, Judge Pamela
Harris concluded that Bankruptcy Code Section 724(b)(2), which
governs the subordination of tax liens to administrative claims,
shouldn't be applied retroactively because conversion of the
debtor's Chapter 11 case to one under Chapter 7 liquidation
occurred after the technical amendments to the statute were
adopted, the report related.

The appeals case is STUBBS & PERDUE, P.A., Appellant, v. JAMES B.
ANGELL, Chapter 7 Trustee, Trustee-Appellee, and UNITED STATES OF
AMERICA, Appellee, No. 15-1316 (4th Cir.), In Re: HENRY LONDON
ANDERSON, JR., Debtor.

A full-text copy of the Opinion dated Jan. 26, 2016, is available
at http://is.gd/oi8Jp4from Leagle.com.

ARGUED: Trawick Hamilton Stubbs, Jr., Esq. --
tstubbs@stubbsperdue.com -- STUBBS & PERDUE, P.A., New Bern, North
Carolina, for Appellant.

Paul Andrew Allulis, UNITED STATES DEPARTMENT OF JUSTICE,
Washington, D.C.; James B. Angell, Esq. -- jangell@hsfh.com --
HOWARD, STALLINGS, FROM, HUTSON, ATKINS, ANGELL & DAVIS, P.A.,
Raleigh, North Carolina, for Appellees.

ON BRIEF: Joseph Z. Frost, Esq. -- jfrost@stubbsperdue.com --
STUBBS & PERDUE, P.A., Raleigh, North Carolina, for Appellant.

Caroline D. Ciraolo, Acting Assistant Attorney General, Thomas J.
Clark, Tax Division, UNITED STATES DEPARTMENT OF JUSTICE,
Washington, D.C.; Thomas G. Walker, United States Attorney, OFFICE
OF THE UNITED STATES ATTORNEY, Raleigh, North Carolina; Nicholas C.
Brown, Esq. -- nbrown@hsfh.com -- HOWARD, STALLINGS, FROM, HUTSON,
ATKINS, ANGELL & DAVIS, P.A., Raleigh, North Carolina, for
Appellees.


HII TECHNOLOGIES: Creditors Seek to End Apache's Plan Exclusivity
-----------------------------------------------------------------
The Ad Hoc Committee of Unsecured Creditors of debtor Apache Energy
Services LLC asks the Bankruptcy Court to terminate the exclusive
period in which only AES may file a plan of reorganization.

The Ad Hoc Committee believes that any chapter 11 plan to be
proposed by HII Technologies, Inc., and the other jointly
administered debtors will be a liquidating plan that will in
essence substantively consolidate the assets of all debtors.  The
Ad Hoc Committee wishes to pursue and propose an alternative to a
jointly administered plan.  In addition, the Ad Hoc Committee
believes that a plan that preserves in some manner the on-going
value of AES's assets and/or business must be expeditiously
pursued.

                        Debtors Object

HII Technologies, Inc., and its debtor-affiliates object to the
motion to terminate the exclusive period with respect to Apache
Energy Services.

According to the Debtors, the Ad Hoc Committee would bear a heavy
burden under any scenario, but it bears an especially heavy burden
given that it seeks to terminate exclusivity prior to the
expiration of the initial 120-day and 180-day periods provided by
the Bankruptcy Code.  The Ad Hoc Committee, the Debtors argue, has
failed to establish cause and the Motion should be denied.

The Debtors point out that the Ad Hoc Committee has alleged no
facts sufficient to establish cause for terminating exclusivity.
They note that the Ad Hoc Committee's argument that cause exists,
boils down to its belief that it could propose a better plan for
Debtor AES.  However, courts have previously held that this is
insufficient to establish cause to terminate exclusivity, the
Debtors tell the Court.

The Official Committee of Unsecured Creditors of HII Technologies,
Inc., has joined in the Debtors' objection.

The Ad Hoc Committee of AES Unsecured Creditors is represented by:

         Leonard H. Simon, Esq.
         Pendergraft & Simon, L.L.P.
         2777 Allen Parkway, Suite 800
         Houston, Texas 77019
         Tel: (713) 737-8207
         Fax: (832) 202-2810
         E-mail: lsimon@pendergraftsimon.com

                - and -

         Joan Kehlhof, Esq.
         Wist Holland & Kehlhof
         720 North Post Oak Road, Suite 610
         Houston, Texas 77024
         Tel: (713) 686-5444
         Fax: (713) 686-0703
         E-mail: jkehlhof@whkllp.com

The Official Committee is represented by:

         W. Steven Bryant, Esq.
         Elizabeth M. Guffy, Esq.
         Locke Lord LLP
         600 Travis Street, Suite 2800
         Houston, Texas 77002
         Tel: (713) 226-1489
         Fax: (713) 229-2536
         Email: sbryant@lockelord.com
                eguffy@lockelord.com

                      About HII Technologies

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

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

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

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

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

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


HORSEHEAD HOLDING: Feb. 16 Meeting Set to Form Creditors' Panel
---------------------------------------------------------------
Andy Vara, Acting United States Trustee of Region 3, will hold an
organizational meeting on Feb. 16, 2016, at 1:00 p.m. in the
bankruptcy case of Horsehead Holding Corp., et al.

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

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

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

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

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


HOUGHTON MIFFLIN: Moody's Lowers Company Family Rating to B2
------------------------------------------------------------
Moody's Investors Service downgraded Houghton Mifflin Harcourt
Publishers Inc.'s senior secured bank credit facility rating to B2
from B1.  The Speculative Grade Liquidity Rating was lowered to
SGL-2 from SGL-1.  Moody's also downgraded the company's Corporate
Family Rating to B2 and its Probability of Default Rating to B3-PD.
The rating outlook is stable.  The action reflects
underperformance of HMH business relative to expectations, combined
with a more aggressive financial policy toward share buybacks.

Houghton Mifflin Harcourt Publishers Inc.:

Ratings Downgraded:

  Corporate Family Rating, downgraded to B2 from B1

  Probability of Default Rating, downgraded to B3-PD from B1-PD

  Speculative Grade Liquidity Rating, lowered to SGL-2 from SGL-1

  $800 million senior secured term loan due 2021, downgraded to B2

   (LGD3) from B1 (LGD4)

Outlook Action:

  Outlook is Stable

RATINGS RATIONALE

The rating downgrade reflects Moody's concerns regarding K-12
education market, due to weaker than expected performance in the
open territory markets in 2015 and expectations of light adoptions
in 2016.  While the company has been able to maintain market share,
HMH's performance through the first nine months of 2015 was weaker
than expected, both in terms of currently recognized revenue and
billings for new sales (including a lower than expected
contribution to deferred sales) resulting in material increase in
leverage from 2.3x debt-to-cash EBITDA to 3.8x pro-forma for
estimated full year contribution of the EdTech business. While the
adoption schedule was expected to be weak over 2015-2016, the open
territory market sales were below expectations, resulting in HMH
having lower sales within this segment.  Cash EBITDA margins have
also declined from 29% to 17%, as HMH continued to fund growth
investments.  Since the open territory market is likely to have
more discretionary purchasing of its education materials, we
estimate that this market weakness will continue into 2016,
resulting in flat or slightly negative top line growth for HMH
(with margins remaining in high-teens), at a minimum until 2017,
when there will be a more robust educational materials adoption
market within which HMH performs well.

Furthermore, Moody's remains concerned regarding the company's
financial policies and its aggressive usage of debt to fund share
buy-backs, thereby resulting in higher leverage and reduced
liquidity in weaker demand periods.  The company raised an
incremental $300 million of debt to use for share buybacks
contemporaneously with its EdTech acquisition financing, and had
this debt not been raised, HMH would be better positioned to
withstand an unanticipated performance deterioration within the
open territory market.  Moody's expects the company's leverage to
remain near 4x debt-to-cash EBITDA over the next 12 months without
any incremental debt raise.  Assuming the company's execution of an
announced incremental debt raise of $250 million, debt-to-cash
EBITDA leverage may rise to the high 4x range, further pressuring
downward the B2 rating.  Moody's estimates free cash flow to debt
to be in low-teens without additional incremental share buybacks
over the next 12 months.

The stable outlook incorporates weaker K-12 market over the next 12
months, and HMH maintenance of its current market-share over the
forecast horizon.  Moody's anticipates HMH earnings to stay flat to
slightly down through 2016 and expects the company to manage its
cost-base appropriately should actual sales and billings miss
expectations.  The outlook also incorporates good liquidity, with
proactive cash management during seasonal working capital swings.
The outlook also incorporates the potential for a $250 million
debt-funded share repurchase.

Ratings could be downgraded if investment spending or operating
weakness leads to free cash flow-to-debt being sustained below 7%
(including Moody's standard adjustments).  Market share erosion,
extended delays in local or state spending on education materials,
or additional debt financed acquisitions or shareholder
distributions resulting in debt-to-cash EBITDA being sustained
above 5.0x (including Moody's standard adjustments, changes in
deferred revenue, and cash pre-publication costs as a reduction in
EBITDA) could also result in a downgrade.  A deterioration of
liquidity would reduce the company's flexibility to invest and
execute its growth initiatives and could lead to downward rating
pressure.

Ratings could be upgraded if Moody's believes the company is
performing well above expectations in the open market territories,
with commensurate market share and operating increase.  A sustained
debt-to-cash EBITDA leverage of less than 3x and free cash flow to
debt in high-teens would also be needed to be considered for a
rating upgrade.  The company would also need to maintain a solid
liquidity position to deal with seasonal working capital swings and
acquisitions to be considered for an upgrade. Finally, Moody's
would need to be assured that management will adhere to operating
and financial policies that are consistent with a higher rating
including acceptable leverage and prudent levels of shareholder
distributions.

The principal methodology used in these ratings was Global
Publishing Industry published in December 2011.

Houghton Mifflin Harcourt Company, headquartered in Boston, MA, is
one of the three largest U.S. education publishers focusing on the
K-12 market with an estimated $1.5 billion of reported revenue for
the 12 months ended Sept. 30, 2015, pro forma for full year impact
of EdTech acquisition.  Houghton Mifflin Harcourt Company is the
ultimate parent of Houghton Mifflin Harcourt Publishers, Inc.
(HMH), which is a joint and several co-borrower of the rated debt
along with Houghton Mifflin Harcourt Publishing Company and HMH
Publishers LLC.  The largest shareholder is Anchorage Capital with
approximately 15% ownership of the company; Lazard Asset
Management, Fidelity Investments and the Vanguard Group each hold
5% - 8%, with the remainder being widely held.


IASIS HEALTHCARE: Moody's Affirms B2 CFR, Outlook Stable
--------------------------------------------------------
Moody's Investors Service raised the Speculative Grade Liquidity
Rating of IASIS Healthcare LLC (IASIS) to SGL-2 from SGL-3. Moody's
also affirmed all other existing ratings of the company, including
the B2 Corporate Family Rating, the B2-PD Probability of Default
Rating, and the Ba3 senior secured and the Caa1 senior unsecured
instrument ratings.  The outlook is stable.

Raising the Speculative Grade Liquidity Rating to SGL-2 reflects
Moody's expectation that the company will operate with good
liquidity over the next 12 to 18 months.  The improvement in IASIS'
liquidity reflects the establishment of a new five year $207.4
million revolving credit facility (not rated by Moody's) to replace
the $300 million facility set to expire in May 2016.  While the new
revolver is smaller in size, Moody's believes that the company's
revolving credit facility, along with cash flow and a considerable
cash balance, provide sufficient liquidity sources to address the
company's operating and capital spending needs, including an
upcoming IT conversion.

The affirmation of IASIS' B2 Corporate Family Ratings reflects
Moody's expectation that the company will continue to operate with
very high financial leverage and modest interest coverage over the
next year.  However, improving trends at both the company's acute
care hospitals and at Health Choice, a subsidiary providing managed
care and insurance services, will likely reduce debt/EBITDA closer
to 6.5 times by IASIS' September 30, 2016 fiscal year end.

Rating raised:

  Speculative Grade Liquidity Rating to SGL-2 from SGL-3

Ratings affirmed:

  Corporate Family Rating at B2
  Probability of Default Rating at B2-PD
  Senior secured credit facilities at Ba3 (LGD2)
  Senior unsecured notes at Caa1 (LGD5)

The rating outlook is stable.

RATINGS RATIONALE

IASIS' B2 Corporate Family Rating reflects Moody's expectation that
the company will continue to operate with very high financial
leverage.  Moody's expects EBITDA growth to result in a modest
reduction in leverage as recent asset sales in the acute care
business allow for more focused investment in remaining markets and
the Health Choice business continues to grow.  Moody's believes
IASIS will not generate meaningful free cash flow, thereby limiting
the ability to reduce leverage through voluntary debt repayment.
Further, the company will continue to operate with significant
concentrations in a few highly competitive markets.

The stable rating outlook incorporates Moody's expectation that
financial leverage will decline over the next 12 months through
EBITDA growth but still remain very high.  The outlook also
reflects Moody's expectation that the company will look to
supplement organic growth with acquisitions or continued investment
in existing markets using its available cash balance.

Given Moody's expectation that leverage will remain high and that
the majority of available cash will be used to reinvest in the
business in lieu of debt repayment, an upgrade of the ratings is
not anticipated in the near term.  However, Moody's could upgrade
the ratings if adjusted debt/EBITDA improves and is expected to be
sustained below 5.0 times through either debt repayment, growth in
EBITDA or through an initial public offering.

Moody's could downgrade the ratings if the company does not reduce
debt to EBITDA closer to 6.5 times over the next 12 months. Moody's
could also downgrade the ratings if cash flow declines and results
in sustained negative free cash flow.  This could transpire if the
company experiences disruption from a major IT conversion, growth
at Health Choice is not sustainable, or from trends in the acute
care business, including weak volumes or market specific issues
such as changes to reimbursement in any of the company's markets.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.

IASIS Healthcare LLC, a wholly owned subsidiary of IASIS Healthcare
Corporation (collectively IASIS), headquartered in Franklin,
Tennessee is an owner operator of acute care hospitals in high
growth urban and suburban markets.  IASIS also owns and operates
Health Choice, a managed care operation that includes health plans,
third party management and administrative services (MSO) and
accountable care network development and management. IASIS
recognized approximately $2.8 billion in revenues in the fiscal
year ended Sept. 30, 2015.


JAMES RIVER: Plan Confirmation Hearing Set for March 10
-------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Virginia
approved the adequacy of the disclosure statement describing the
Chapter 11 plan of liquidation filed by James River Coal Company
and its debtor-affiliates.

The Court set March 3, 2016, at 4:00 p.m. (prevailing Eastern Time)
as deadline to vote on the Debtors' plan.  A hearing is scheduled
for March 10, 2016, at 1:00 p.m. (prevailing Eastern Time) to
confirm the Debtors' plan.  Objections to the confirmation of the
Debtors' plan must be filed no later than 4:00 p.m. (prevailing
Eastern Time) on March 3, 2016.

As reported by the Troubled Company Reporter on Jan. 7, 2016, the
Debtors' Plan contemplates the liquidation and dissolution of the
Debtors and the resolution of all outstanding claims against, and
interests in, the Debtors.

The Debtors, in August 2014, sold their Hampden Mining Complex
(including the assets of Logan & Kanawha Coal Company, LLC), the
Hazard Mining Complex and the Triad Mining Complex for $52 million
plus the assumption of certain environmental and other liabilities,
to a unit of Blackhawk Mining.  In December 2014, the Debtors sold
their mines commonly referred to as the Bell Complex and the
Bledsoe Complex, along with certain assets of debtor Laurel
Mountain Resources, LLC, to Revelation Energy, LLC for $2 million
plus the assumption of liabilities.  With the assistance of Great
American Global Partners, LLC, the Debtors sold equipment excluded
from the Revelation sale for $4.9 million.

The Debtors' remaining assets currently consist of, among other
things, cash, accounts receivable, avoidance actions, interests in
collateral held by third party insurers and surety bond providers
and tax refunds and deposits.  The Plan provides for the Debtors'
assets already liquidated or to be liquidated over time and the
proceeds thereof to be distributed to Holders of Allowed Claims in
accordance with the terms of the Plan.  The plan administrator, or,
a liquidating trust, will be the means to effect such liquidation
and distribution.  The Debtors will be dissolved as soon as
practicable after the Effective Date.

The projected recoveries under the Plan are:

                                                       Projected
  Class & Description        Proposed Treatment         Recovery
  -------------------        ------------------         --------
1A-34A Other Priority
  Claims                Unimpaired. Payment in full
                        in Cash; or other treatment
                        that will render the Claim
                        Unimpaired.                       100%

1B-34B Secured Claims   Unimpaired. Payment in full in
                        Cash, to the extent of the value
                        of the holder's secured interest
                        in such Collateral; or other
                        treatment that will render the
                        Claim Unimpaired.                 100%

1C; 2C-34C 7.875%
  Senior Notes Parent
  Claims; 7.875% Senior
  Notes Guarantee
  Claims                Impaired. Subject to Section
                        3.2(c) of the Plan, each Holder
                        of an Allowed 7.875% Senior Notes
                        Parent Claim shall be entitled
                        to its Ratable Share of Total
                        Distributable Cash.               3.8%

1D; 2D-34D  10.00%
  Convertible Senior
  Notes Parent Claims;
  10.00% Convertible
  Senior Notes
  Guarantee Claims      Impaired. Subject to Section
                        3.2(d) of the Plan, each Holder
                        of an Allowed 10.00% Convertible
                        Senior Notes Parent Claim
                        will be entitled to its Ratable
                        Share of Total Distributable
                        Cash.                            1.75%

1E; 2E-34E  PBGC Parent
  Claims; PBGC
  Subsidiary Claims     Impaired. Subject to Section
                        3.2(e) of the Plan, on account
                        of any Allowed PBGC Parent Claim,
                        PBGC shall be entitled to such
                        Allowed PBGC Parent Claim's
                        Ratable Share of Total
                        Distributable Cash.              3.8%

1F-34F General
  Unsecured Claims      Impaired.  Subject to Section
                        3.2(f), each Holder of an
                        Allowed General Unsecured
                        Claim shall be entitled to
                        its Ratable Share of Total
                        Distributable Cash.              1.0%
                                                      (Debtor
                                                      Group 1)
                                                      Or 0.5%
                                                      (Debtor
                                                      Group 2)

1G-34G  Subordinated
  Claims                Impaired. No distribution.        0%

1H-34H Intercompany
  Claims                Impaired. Cancelled;
                        no distribution.                  0%

1I Interests in
  James River           Impaired. No distribution.        0%

1J; 2I-34I Interests in
  Subsidiary Debtors    Unimpaired. Reinstated.         100%

Under the Plan, holders of Claims in Classes 1C; 2C-34C, 1D;
2D-34D, 1E; 2E-34E and 1F-34F are impaired and are entitled to vote
on the Plan.   Holders of Claims and Interests in Classes 1G-34G,
1H-34H and 1I are impaired and will not receive or retain any
property under the Plan on account of such claims or interests and,
therefore, are not entitled to vote on the Plan and deemed to
reject the Plan.

A copy of the Disclosure Statement for the Liquidating Plan filed
Dec. 22, 2015, is available for free at:

     http://bankrupt.com/misc/James_River_1565_DS_Liq_Plan.pdf

                      About James River Coal

James River Coal Company is a producer and marketer of coal in the
Central Appalachia ("CAPP") and the Midwest coal regions of the
United States.  James River's principal business is the mining,
preparation and sale of metallurgical coal, thermal coal (which is
also known as steam coal) and specialty coal.

James River and 33 of its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. E.D. Va. Case Nos. 14-31848 to 14-31886) in
Richmond, Virginia, on April 7, 2014.  The petitions were signed by
Peter T. Socha as president and chief executive officer.  Judge
Kevin R. Huennekens oversees the Chapter 11 cases.

On the petition date, James River Coal disclosed total assets of
$1.06 billion and total liabilities of $818.6 million.

The Debtors are represented by Tyler P. Brown, Esq., Henry P.
(Toby) Long, III, Esq., and Justin F. Paget, Esq. at Hunton &
Williams LLP of Richmond, VA and Marwill S. Huebner, Esq, Brian M.
Resnick, Esq., and Michelle M. McGreal, Esq. at Davis Polk &
Wardwell LLP of New York, NY.  Kilpatrick Townsend & Stockton LLP
serves as the Debtors' special counsel.  Perella Weinberg Partners
L.P. is the Debtors' financial advisor.  Deutsche Bank Securities
Inc. serves as the Debtors' investment banker and M&G advisor.
Epiq Bankruptcy Solutions, LLC, acts as the debtors' notice, claims
and administrative agent.

The U.S. Trustee for Region 4 has appointed five creditors to the
Official Committee of Unsecured Creditors.  Michael S. Stamer,
Esq., Alexis Freeman, Esq., and Jack M. Tracy II, Esq., at Akin
Gump Strauss Hauer & Feld LLP; and Jonathan L. Gold, Esq.,
Christopher L. Perkins, Esq., and Christian K. Vogel, Esq., at
LeClairRyan.

The Debtors, in August 2014, won authority to sell the Hampden
Mining Complex (including the assets of Logan & Kanawha Coal
Company, LLC), the Hazard Mining Complex (other than the assets of
Laurel Mountain Resources LLC) and the Triad Mining Complex for $52
million plus the assumption of certain environmental and other
liabilities, to a unit of Blackhawk Mining.  The Buyer is
represented by Mitchell A. Seider, Esq., and Charles E. Carpenter,
Esq., at Latham & Watkins LLP.


JCBG INCORPORATED: Closes, Sale of Liquor License & Property OK'd
-----------------------------------------------------------------
The Hon. Andrew B. Altenburg of the U.S. Bankruptcy Court for the
District of New Jersey has approved the sale of Coastline
Restaurant's liquor license for more than $1 million to the Village
at Woodcrest, court documents say.  Barbara Boyer at Pilly.com
relates that Judge Altenburg also approved the sale of the
Company's property at 1240 Brace Road for more than $2.5 million to
Orens Development Inc.

The sales were expected to close in early to mid-February,
Pilly.com states, citing Dino S. Mantzas, Esq., at the Law Office
of Dino S. Mantzas, the Company's bankruptcy counsel.  Mr. Mantzas,
according to the report, said that the contents of the business
also will be scheduled for sale, as the Company would liquidate all
its assets and become insolvent.

Coastline Restaurant, which operated for almost 40 years on Brace
Road and closed earlier in January 2016, Jim Walsh at Courier-Post
reports.

Headquartered in Cherry Hill, New Jersey, JCBG Incorporated -- aka
Coastline Restaurant and Coastline Bar and Grill -- filed for
Chapter 11 bankruptcy protection (Bankr. D. N.J. Case No. 15-22426)
on July 1, 2015, listing $3.7 million in total assets and $4.7
million in total liabilities.  The petition was signed by Dawn
Mourtos, president.

Judge Andrew B. Altenburg Jr. presides over the case.

Dino S. Mantzas, Esq., at the Law Office of Dino S. Mantzas serves
as the Company's bankruptcy counsel.


JOSEPH DETWEILER: Wins Partial Summary Judgment in Sequatchie Suit
------------------------------------------------------------------
Sequatchie Mountain Creditors allege in their complaint that Debtor
Joseph Detweiler's misrepresentations and fraudulent conduct caused
$13,500,000 in non-dischargeable damages.  The Debtor moves for
summary judgment on all of the Plaintiffs' claims, arguing that the
Plaintiffs cannot pierce the corporate veil to assert liability and
that the debts are dischargeable.  The Plaintiffs object, arguing
that the Debtor's own unlawful conduct creates liability, the
corporate veil can be pierced, and that the debts are
nondischargeable because of the Debtor's fraudulent acts.

In a Memorandum Opinion dated January 25, 2016, which is available
at http://is.gd/xjtby3from Leagle.com, Judge Russ Kendig of the
United States Bankruptcy Court for the Northern District of  Ohio,
Eastern Division, granted the Debtor's motion for summary judgment
regarding all of the Plaintiffs' claims that the debt is
nondischargeable.

Further, the Court granted summary judgment on Plaintiffs Wesley
Jinks, Mary Czaijka, Ana Rodriguez, William King, Manuel Real, Gene
Renz, Joyce Rence, and the Estate of John Hallman's claim that the
debt is non-dischargeable.

Judge Kendig denied the Debtor's motion for summary judgment
regarding Plaintiffs Catherine Walton, Dennis Walton, Denise
Voyles, Anthony Voyles, Constance Van Doren, William Van Doren,
Deborah Valvo, Michael Valvo, Susan Stone, George Stone, Dianne
Schmid, Joseph Schmid, Gayne Meadows-Roberts, Robert Roberts, Flora
Rela, Federico Pratts, Elida Perez, Julio Perez, Lana Meschino,
Paul Meschino, Mary Olivas, Frank Meier, Ellen McAvoy, Charles
McAvoy, Sharyn Roettger, Stan Malecki, Irmgard Lisi, Ronald Kroll,
Diana King, Baeley Jaikaran, Katie Hoehn, Ryan Hoehn, Bonnie Hill,
Robert Hill, Fred Hearn, Donna Hauser, Richard Hauser, Wanda
Crowell, Julius Harris, Shirley Hallman, Diana Graham, Thomas
Graham, Gay Glassman, Deborah Friske, Robert Friske, Carol
Ferkinoff, Marvin Ferkinoff, Richard Czajka, Mary Lou Constant,
Robert Constant, Christine Clewes, Carol Charland, William
Charland, Diane Beaudoin, Daniel Beaudoin, Lisa Allen, Robert
Allen, Mary Alice Agusta, and Vincent Agusta's, claims that the
debt is nondischargeable.

IN RE: JOSEPH J. DETWEILER, Chapter 11, Debtor. SEQUATCHIE MOUNTAIN
63377, Adv. No. 09-6118 (Bankr. N.D. Ohio).

Sequatchie Mountain Creditors, Plaintiff, is represented by Peter
G. Tsarnas, Esq. -- ptsarnas@goldman-rosen.com -- Goldman & Rosen,
Ltd.

Wesley Jinks, Plaintiff, is represented by Valerie W. Epstein,
Esq. -- Epstein Law Firm, PLLC.

Joseph J. Detweiler, Defendant, is represented by Aletha M. Carver,
Esq. -- acarver@kwgd.com  -- Krugliak, Wilkins, Griffiths &
Dougherty, Anthony J DeGirolamo, Matthew W. Onest, Esq. --
monest@kwgd.com  -- Krugliak, Wilkins, Griffiths & Dougherty,
Stephan R. Wright, Fleissner, Esq. -- swright@fleissnerfirm.com --
Davis and Johnson, Scott M Zurakowski, Esq. -- szurakowski@kwgd.com
-- Krugliak, Wilkins, Griffiths & Dougherty

Joseph J. Detweiler filed a chapter 11 petition (Bankr. N.D. Ohio
Case No. 09-63377) on Aug. 17, 2009.


KALOBIOS PHARMACEUTICALS: U.S. Trustee Wants Trustee or Chapter 7
-----------------------------------------------------------------
Kurt Orzeck at Bankruptcy Law360 reported that the U.S. trustee in
the Delaware bankruptcy of KaloBios Pharmaceuticals Inc. on Feb. 1,
2016, recommended that management for the beleaguered company,
previously led by recently arrested investor Martin Shkreli, be
replaced by an independent trustee, or that the company face
possible liquidation under Chapter 7.  Acting U.S. Trustee Andrew
R. Vara filed an emergency motion for an order directing the
appointment of a Chapter 11 trustee or, in the alternative, for the
bankruptcy to be converted to a Chapter 7 case.

                 About KaloBios Pharmaceuticals

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

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

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

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


KUZINA BY SOFIA: Files for Chapter 11 Bankruptcy Protection
-----------------------------------------------------------
Jim Walsh at Courier-Post reports that Kuzina by Sofia has filed
for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court
for the District of New Jersey.

Court documents show that the Company listed liabilities of between
$100,000 and $500,000, versus assets of less than $50,000.

Courier-Post quoted Dino Mantzas, Esq., the attorney for the
Company, as saying, "Their intention is to continue operating."

According to court filings made in the name of Kuzina Hospitality,
the Company previously operated under bankruptcy protection from
May 2012 through September 2014.  

Kuzina by Sofia is a Greek eatery based in Cherry Hill, New Jersey.
It is run by Sofia Karakasidiou, and has operated since 2007 in
the Sawmill Village shopping center.


LEHMAN BROTHERS: Pulled $380M Out of Anglo Irish Prior to Ch. 11
----------------------------------------------------------------
Joe Brennan, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that days before Lehman Brothers Holdings Inc. filed for
bankruptcy in 2008, the U.S. investment bank pulled 350 million
euros ($380 million) out of Anglo Irish Bank Corp., exacerbating
the Irish lender's funding crisis.

According to the report, an internal e-mail circulated between
Anglo Irish executives on Sept. 12, 2008, showed the lender lost 2
billion euros in deposits over seven days, including from Lehman
Brothers, according to documents shown to jurors at a trial of
former finance executives in Dublin.

The U.S. bank's withdrawal "was interesting as the Lehman crisis or
collapse was only days away," said Una Ni Raifeartaigh, a
prosecutor in the case against four former Irish bankers, said in
the Dublin Circuit Criminal Court, the report related.

                     About Lehman Brothers

Lehman Brothers Holdings Inc. -- http://www.lehman.com/--         

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

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

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

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

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

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

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

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

                          *     *     *

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

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


LIQUID HOLDINGS: Feb. 11 Meeting Set to Form Creditors' Panel
-------------------------------------------------------------
Andy Vara, Acting United States Trustee of Region 3, will hold an
organizational meeting on Feb. 11, 2016, at 10:00 a.m. in the
bankruptcy case of Liquid Holdings Group, Inc., et al.

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

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

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

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

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


LOGISTIC ENTERPRISES: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Logistic Enterprises, LLC
        601 Trenton Road
        Ste D PMB 10
        McAllen, TX 78504

Case No.: 16-70066

Chapter 11 Petition Date: February 5, 2016

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

Judge: Hon. Eduardo V Rodriguez

Debtor's Counsel: Antonio Villeda, Esq.
                  VILLEDA LAW GROUP
                  6316 N 10th St, Bldg. B
                  McAllen, TX 78504
                  Tel: 956-631-9100
                  Email: avilleda@mybusinesslawyer.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Maria Lozano, member and
representative.

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


MALIBU LIGHTING: Seeks June 4 Extension of Plan Filing Period
-------------------------------------------------------------
Malibu Lighting Corporation, et al., ask the U.S. Bankruptcy Court
for the District of Delaware to extend the period by which they
have exclusive right to file a plan through and including June 4,
2016, and the period by which they have exclusive right to solicit
acceptances of that plan through and including Aug. 3, 2016.

On Nov. 19, 2015, the Court entered an order authorizing the sale
of substantially all assets of National Consumer Outdoors
Corporation f/k/a Dallas Manufacturing Company pursuant to an Asset
Purchase Agreement dated November 12, 2015, between NCOC and
Central Garden &Pet Company.

On December 30, 2015, Outdoor Direct Corporation f/k/a The
Brinkmann Corporation and Malibu Lighting Corporation entered into
an APA with Sears Holdings Management Corp. for the sale of
the remaining inventory of ODC and MLC.  Pursuant to Court-approved
Bid Procedures, the bid deadline was February 5, 2016, and an
auction was held on February 9, 2016.

According to Jeffrey N. Pomerantz, Esq., at Pachulski Stang Ziehl &
Jones LLP, in Wilmington, Delaware, the Debtors, in consultation
with the Official Committee of Unsecured Creditors, will need to
begin the process of reconciling the proofs of claim received with
their schedules of assets and liabilities.  The Debtors, Mr.
Pomerantz tells the Court, will use the extension to monetize
substantially all of the remaining assets of the estates.  Lastly,
the extension will enable the Debtors to engage the secured lender,
the Committee, and the Debtors' equity holder, in discussions on
the appropriate exit strategy, he adds.

The Debtors are also represented by Maxim B. Litvak, Esq., and
Michael R. Seidl, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware.

                       About Malibu Lighting

Malibu Lighting Corporation, Outdoor Direct Corporation, National
Consumer Outdoors Corporation, Beam Corporation, Smoke 'N Pit
Corporation, Treasure Sensor Corporation and Stubbs Collections
Inc. filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead
Case No. 15-12080) on Oct. 8, 2015.  The petition was signed by
David M. Baker as chief restructuring officer.  Judge Kevin Gross
is assigned to the case.

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

The Debtors have engaged Pachulski Stang Ziehl & Jones LLP as
counsel, Piper Jaffray Co. as investment banker and Kurtzman Carson
Consultants as claims and noticing agent.

MLC was a manufacturer and supplier of outdoor and landscape
lighting products, such as solar and low voltage lights and home
security lights, including the parts and accessories associated
with these products.

ODC was a manufacturer and supplier of a variety of consumer goods,
including (a) outdoor cooking products, such as outdoor gas grills,
charcoal grills, smokers and fryers, (b) hand held lighting
products, such as flashlights and spotlights, (c) landscape
lighting products, and (d) parts and accessories associated with
the foregoing products.

MLC and ODC are currently winding down operations as a result of
the termination of a business relationship with principal customer,
Home Depot.

NCOC is a manufacturer and supplier of both branded and private
label pet bedding and pet accessory products.  NCOC manufactures
beds, accessories, and deodorizers for dogs as well as beds,
scratching posts, and toys for cats.  In addition, NCOC markets and
sells boat covers manufactured primarily from Chinese suppliers.

The Office of the U.S. Trustee appointed five creditors to the
official committee of unsecured creditors.  The committee is
represented by Lowenstein Sandler PC.


MEDRISK LLC: Moody's Assigns B2 CFR & Rates Credit Facilities Ba3
-----------------------------------------------------------------
Moody's Investors Service assigned a B2 Corporate Family Rating and
B2-PD Probability of Default Rating to MedRisk, LLC.  At the same
time, Moody's assigned Ba3 ratings to the company's proposed first
lien senior secured credit facilities, including a $202.5 million
first lien senior secured term loan and a $25 million revolving
credit facility.  This is the first time Moody's has rated MedRisk,
LLC.  The rating outlook is stable.  All ratings are subject to
Moody's review of final documentation.

Proceeds from the term loan, along with rollover equity, cash
equity from new private equity sponsor TA Associates, and mezzanine
financing (unrated) provided by management and TA Associates were
used to capitalize MedRisk LLC and pay transaction fees and
expenses.

Rating Assignments:

Issuer: MedRisk, LLC

  Probability of Default Rating, B2-PD

  Corporate Family Rating, B2

  Senior Secured Bank Credit Facility, Ba3 (LGD3)

  Senior Secured Term Loan, Ba3 (LGD3)

  Outlook, Assigned Stable

RATINGS RATIONALE

The B2 Corporate Family Rating reflects MedRisk's high financial
leverage, position as a distant #2 specialized network provider in
the workers' compensation market, small size and substantial
customer concentration.  Pro-forma for this transaction, Moody's
estimates MedRisk's adjusted debt to EBITDA to be approximately
6.6x as of Nov. 30, 2015.  The company's primary competitor is One
Call Medical, Inc. (an indirect subsidiary of Opal Acquisition,
Inc.; B3 stable).  The rating is supported by the firm's strong
value proposition to its payor clients and network providers, and
its preference to pursue growth organically.

The stable outlook reflects Moody's expectation that MedRisk will
reduce financial leverage to below 6.0 times within the next 12-18
months through a combination of EBITDA growth and modest debt
repayment.  The stable outlook also reflects Moody's expectation
that the company will be free cash flow positive and maintain good
liquidity.

Moody's does not expect an upgrade over the near-term due to the
company's high financial leverage.  Over time, the ratings could be
upgraded if credit metrics improve and financial leverage is
lowered such that adjusted debt to EBITDA is sustained below 4.5
times.  The company would also need to effectively manage its
growth as it increases its scale.

The ratings could be downgraded if the company is unable to reduce
adjusted leverage below 6.0 times over the next 12 to 18 months, if
free cash flow turns negative, or liquidity deteriorates.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.

Based in King of Prussia, Pennsylvania, MedRisk, LLC is a provider
of cost containment services for workers' compensation claims.  The
firm acts as an intermediary between healthcare payors, providers
and patients by coordinating patient care and actively managing the
claims management process for its clients.  The company's clients
include workers' compensation insurance carriers, third-party
administrators, self-insured employers and government entities in
the workers' compensation market.  MedRisk reported revenues of
approximately $324 million for the twelve months ended Nov. 30,
2015.


METROPOLITAN AUTOMOTIVE: Asks for March 4, 2016 Bid Deadline
------------------------------------------------------------
Katy Stech, writing for The Wall Street Journal, reported that
lawyers trying to sell California's Metropolitan Automotive
Warehouse Inc., which fell into bankruptcy after saying it lost
money expanding its online auto parts sales, want a bankruptcy
judge to set a March 4, 2016 bid deadline for potential buyers.

According to the Journal, Metropolitan Automotive Warehouse
officials told Judge Wayne E. Johnson in court papers that several
buyers are interested in purchasing the Los Angeles-area company
out of bankruptcy at an auction.  The company, combined with
affiliate Star Auto Parts Inc., employs about 1,000 people, the
Journal said.

Metropolitan Automotive Warehouse officials didn't say how much
buyers were offering to pay but proposed to reveal the value of the
auction's opening bid by Feb. 12, the report related.  One offer is
expected to come from New York-based Parts Authority Inc., which
called itself one of the largest distributors or automotive and
truck parts on the East Coast in a document filed in U.S.
Bankruptcy Court in Riverside, Calif., the report further related.

                  About Metropolitan Automotive

Metropolitan Automotive Warehouse, Inc. filed a Chapter 11
bankruptcy petition (Bankr. C.D. Cal. Case No. 16-10096) on Jan.
6,
2016.  The petition was signed by Ron Turner, the president.

The Debtor has estimated assets in the range $10 million to $50
million and estimated liabilities of $50 million to $100 million.
Winthrop Couchot Professional Corporation serves as the Debtor's
counsel.  Judge Wayne E. Johnson has been assigned the case.

Metropolitan Automotive Wholesale, Inc. is a family-owned Southern
California-based business, distributing automotive aftermarket
parts for the last 60 years, with operations in Southern
California
and Central California.  The Debtor distributes aftermarket
automotive parts to retail stores and also sells to and fulfills
orders for various e-commerce customers.

Star Auto Parts, Inc., a wholly-owned subsidiary of the Debtor, is
a Southern California based retailer of aftermarket parts.  Star
sells aftermarket automotive parts directly to repair facilities
also known as the "Do-it-for-Me" channel, end users, also known as
the "Do-it-Yourself" channel, and businesses which own and operate
vehicle fleets.  The Debtors employ approximately 1,000 persons.


METROPOLITAN BAPTIST: Voluntary Chapter 11 Case Summary
-------------------------------------------------------
Debtor: Metropolitan Baptist Church
        1200 Mercantile Lane
        Largo, MD 20020

Case No.: 16-00040

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       for the District of Columbia (Washington, D.C.)

Judge: Hon. Martin S. Teel, Jr.

Debtor's Counsel: Wendell W. Webster, Esq.
                  WEBSTER & FREDRICKSON, PLLC
                  1775 K Street, NW, Suite 600
                  Washington, DC 20006
                  Tel: 202- 659-8510
                  Fax: (202) 659-4082
                  Email: gspence@websterfredrickson.com
                         wwebster@websterfredrickson.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Harry T. Jones, Jr.
, Chair, Board of Trustees.

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


MID-STATES SUPPLY: Case Summary & 20 Top Unsecured Creditors
------------------------------------------------------------
Debtor: Mid-States Supply Company, Inc.
        1716 Guinotte Avenue
        Kansas City, MO 64120

Case No.: 16-40271

Type of Business: The Debtor supplies pipes, valves and fittings
                  to ethanol, pipeline and power industries in the

                  United States.

Chapter 11 Petition Date: February 7, 2016

Court: United States Bankruptcy Court
       Western District of Missouri (Kansas City)

Debtor's Counsel: Andrea M. Chase, Esq.
                  SPENCER FANE LLP
                  1000 Walnut St., Ste. 1400
                  Kansas City, MO 64106
                  Tel: 816-474-8100
                  Fax: 816-474-3216
                  Email: achase@spencerfane.com

                     - and -

                  Lisa A. Epps, Esq.
                  SPENCER FANE LLP
                  1000 Walnut Street, Suite 1400
                  Kansas City, MO 64106
                  Tel: 816-292-8881
                  Fax: 816-474-3216
                  Email: lepps@spencerfane.com

                     - and -

                  Scott J. Goldstein, Esq.
                  SPENCER FANE LLP
                  1000 Walnut Street, Suite 1400
                  Kansas City, MO 64106
                  Tel: 816-292-8218
                  Fax: 816-474-3216
                  Email: sgoldstein@spencerfane.com

                     - and -

                  Eric L. Johnson, Esq.
                  SPENCER FANE LLP
                  1000 Walnut St., Ste 1400
                  Kansas City, MO 64106
                  Tel: 816-292-8267
                  Fax: 816-474-3216
                  Email: ejohnson@spencerfane.com

Debtor's          Eric Glassman, Esq.
Financial         WINTER HARBOR LLC
Advisor:          265 Franklin Street, 10th Floor
                  Boston, MA 02110
                  Tel: (617) 275-5411

Debtor's          SSG ADVISORS, LLC
Investment
Bankers:             - and -
                     
                  FRONTIER INVESTMENT BANC CORPORATION

Debtor's CFO      TARSUS CFO SERVICES, LLC
Services
Provider:

Debtor's          EPIQ BANKRUPTCY SOLUTIONS, LLC
Claims and
Noticing
Agent:

Estimated Assets: $50 million to $100 million

Estimated Debts: $50 million to $100 million

The petition was signed by Stuart Noyes, chief restructuring
officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Cameron Engineered Valves            Trade Vendor     $18,215,772

3250 Briarpark Dr
Houston, TX 77042

Flowserve/ED Vogt Valve/Jeffer       Trade Vendor      $1,973,336
1511 Jefferson
Sulphur Springs, TX 75482

Forum Valve Solutions                Trade Vendor        $948,607
10600 Corporate Drive
Stafford, TX 77477

Texas Bolt Co.                       Trade Vendor        $896,575
6300 West BY NW Blvd
Houston, TX 77040

Emerson Process Management           Trade Vendor        $606,818
11100 Brittmoore Park DR
Houston, TX 77041

ABZ Valves & Controls                Trade Vendor        $567,571
119 W. Main
Madison, KS 66860

Texas Pipe & Supply Co.              Trade Vendor        $533,864
2330 Holmes RD
Houston, TX 77051

Global Stainless Supply              Trade Vendor        $526,324
9040 Railwood Drive
Houston, TX 77078

Ameri-Forge                          Trade Vendor        $493,210
945 Bunker Hill, Suite 500
Houston, TX 77024

Lamons Gasket Co.                    Trade Vendor        $490,164
7300 Airport Blvd.
Houston, TX 77061

Dynamic Products, Inc.               Trade Vendor        $468,511
16520 Peninsula Blvd.
Houston, TX 77015

Global Pipe Supply                   Trade Vendor        $445,401
8900 Railwood Drive
Houston, TX 77078

Anchor Sales & Service Co.           Trade Vendor        $429,148
106 W. 31st St.
Independence, MO 64055

IPSCO Tubulars Inc.                  Trade Vendor        $408,978
2011-7th Avenue
Camanche, IA 52730

Maverick International Ltd.          Trade Vendor        $405,075
1650 Brockman St.
Beaumont, TX 77705

Multalloy                            Trade Vendor        $344,317
8511 Monroe Blvd.
Houston, TX 77061

Apollo Valves/Conbraco               Trade Vendor        $337,769
701 Matthews-Mint Hill Rd.
Matthews, NC 28105

Flowserve/Durco Valve Div            Trade Vendor        $331,225
1978 Foreman Drive
Cookeville, TN 38501

Steel Ventures, LLC DBA EXLTUB       Trade Vendor        $329,930
905 Atlantic Street
N. Kansas City, MO 64116

Service Metal Products               Trade Vendor        $324,883
4001 N. Kingshighway
St. Louis, MO 63115


MISSISSIPPI REGIONAL CANCER: Case Summary & Top Unsecured Creditor
------------------------------------------------------------------
Debtor: North Central Mississippi Regional Cancer Center, Inc.
        764 Gillespie Street
        Jackson, MS 39202

Case No.: 16-00342

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       Southern District of Mississippi
      (Jackson-3 Divisional Office)

Judge: Hon. Edward Ellington

Debtor's Counsel: Craig M. Geno, Esq.
                  LAW OFFICES OF CRAIG M. GENO, PLLC
                  587 Highland Colony Pkwy.
                  Ridgeland, MS 39157
                  Tel: 601 427-0048
                  Fax: 601-427-0050
                  Email: cmgeno@cmgenolaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jennifer Welch, director, vice
president.

The Debtor listed Albert Lee Abraham, Jr., as its largest unsecured
creditor holding an unknown amount of claim.

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

          http://bankrupt.com/misc/mssb16-00342.pdf


MOLYCORP: Oaktree Objects to Mediation Privilege Order Stay Motion
------------------------------------------------------------------
OCM MLYCo CTB Ltd. ("Oaktree"), the Official Committee of Unsecured
Creditors and debtors Molycorp, Inc., et al., object to the motion
filed by Bloomberg L.P. before the U.S. Bankruptcy Court for the
District of Delaware, seeking to stay and reconsider the Court's
Mediation Privilege Order.

Andrew R. Remming, Esq., at Morris, Nichols, Arsht & Tunnell LLP,
in Wilmington, Delaware, relates that the Court entered a
Protective Order reflecting agreements reached between each of the
Debtors, Oaktree, the Official Committee of Unsecured Creditors,
and certain holders of Molycorp, Inc. 10% Senior Secured Notes,
concerning the confidential nature of documents shared between the
Parties through discovery.  Mr. Remming further relates that the
Court then entered a Mediation Procedures Order which specified
that all communications made by the Parties in connection with the
Mediation are confidential and should not be disclosed to other
parties or third persons.

Mr. Remming notes that on Dec. 11, 2015 and Jan. 5, 2016, Bloomberg
published articles reporting purportedly confidential information
that, if accurate, could only have been obtained from one of the
Parties, indicating that at least one of the Parties had violated
either the Protective Order or the Mediation Procedures Order.  Mr.
Remming further notes that at the request of the Parties, the Court
entered the Mediation Privilege Order directing the Parties to file
declarations attesting to their contact with the Bloomberg
reporters involved in the Bloomberg Articles, solely with respect
to Molycorp.  Mr. Remming adds that the Order was requested by the
Parties to enforce the confidentiality obligations previously
ordered by the Court in the Mediation Procedures Order and the
Protective Order.

-- OCM MLYCo CTB Ltd.

Oaktree relates that Bloomberg has asked the Court to stay,
reconsider, and modify the Mediation Privilege Order on the grounds
that it impermissibly interferes with Bloomberg's newsgathering.
Oaktree contends that this mischaracterizes the nature, scope, and
effect of the Mediation Privilege Order. Oaktree further contends
that the Order merely seeks to enforce other orders issued by this
Court in order to preserve the value of the estate, and does so in
a manner narrowly tailored to the concerns at hand.  Oaktree
asserts that the Court should deny the Motion.

-- Creditors Committee

The Official Committee of Unsecured Creditors tells the Court that
Bloomberg's argument, that the Mediation Privilege Order violates
First Amendment rights, rests entirely on the faulty premise that
the Mediation Privilege Order "compels" the Parties'
representatives to disclose information that they otherwise would
not voluntarily disclose.  The Committee further tells the Court
that no Party has been compelled to disclose anything and that the
Parties agreed, among themselves and without any prompting from any
judicial or other authority, to negotiate, agree upon, and seek the
Court's entry of the Mediation Privilege Order in a joint effort to
bolster the integrity of the Debtors' sales process and the
mediation.  The Committee contends that the Mediation Privilege
Order is 100% consensual and voluntary and does not compel the
Parties or their respective representatives to disclose any
information that they have not agreed to disclose.

-- Debtors

The Debtors contend that notwithstanding the voluntary agreement of
the Mediation Parties to the "Absolute Mediation Pivilege", an
article was published on Bloomberg.com titled "Molycorp Said to
Push Ahead with Plan as Creditor Talks Fail" that disclosed
intimate details of the Mediation, including certain specifics of
offers and counter-offers purportedly made by the various parties
during the Mediation.  The Debtors further contend that not only
did the public disclosure of such information by one of the
Mediation Parties directly violate the Court's Mediation Order, it
also undermines the Mediation itself.  The Debtors assert that for
there to be meaningful progress in the Mediation, parties must be
able to rely upon the Mediation Order and the Absolute Mediation
Privilege set forth therein.  The Debtors further assert that
non-enforcement of these provisions will have a chilling effect on
the Mediation, where all parties need to have confidence that their
proposals and candid discussions will remain confidential.

                          *     *     *

OCM MLYCo CTB Ltd. is represented by:

          Robert J. Dehney, Esq.
          Gregory W. Werkheiser, Esq.
          Andrew R. Remming, Esq.
          MORRIS, NICHOLS, ARSHT & TUNNELL LLP
          1201 North Market Street, 16th Floor
          P.O. Bix 1347
          Wilmington, DE 19899
          Telephone: (302)658-9200
          Facsimile: (302)658-3989
          E-mail: rdehney@mnat.com
                  gwerkheiser@mnat.com

                - and -

          Dennis F. Dunne, Esq.
          Samuel A. Khalil, Esq.
          Lauren C. Doyle, Esq.
          MILBANK, TWEED, HADLEY & MCCLOY LLP
          28 Liberty Street
          New York, NY 10005
          Telephone: (212)530-5000
          Facsimile: (212)530-5219
          E-mail: ddunne@milbank.com
                  skhalil@milbank.com
                  ldoyle@milbank.com

                - and -

          Andrew M. Leblanc, Esq.
          Aaron L. Renenger, Esq.
          MILBANK, TWEED, HADLEY & MCCLOY LLP
          1850 K Street NW, Suite 1100
          Washington, DC 20006
          Telephone: (202)835-7500
          Facsimile: (202)263-7586
          E-mail: aleblanc@milbank.com
                  arenenger@milbank.com

The Official Committee of Unsecured Creditors is represented by:

          William P. Bowden, Esq.
          Gregory A. Taylor, Esq.
          ASHBY & GEDDES, P.A.
          500 Delaware Avenue, 8th Floor
          P.O. Box 1150
          Wilmington, DE 19899
          Telephone: (302)654-1888
          Facsimile: (302)654-2067
          E-mail: wbowden@ashby-geddes.com
                  gtaylor@ashby-geddes.com

                - and -

          Luc A. Despins, Esq.
          Andrew Tenzer, Esq.
          Robert E. Winter, Esq.
          PAUL HASTINGS LLP
          Park Avenue Tower
          75 East 55th Street, First Floor
          New York, NY 10022
          Telephone: (212)318-6000
          E-mail: lucdespins@paulhastings.com
                  andrewtenzer@paulhastings.com
                  robertwinter@paulhastings.com

Molycorp, Inc., and its affiliated debtors are represented by:

          M. Blake Cleary, Esq.
          Edmon L. Morton, Esq.
          Justin H. Rucki, Esq.
          Ashley E. Jacobs, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Telephone: (302)571-6600
          Facsimile: (302)571-1253
          E-mail: mbcleary@ycst.com
                  emorton@ycst.com
                  jrucki@ycst.com
                  ajacobs@ycst.com

                - and -

          Paul D. Leake, Esq.
          Lisa Laukitis, Esq.
          George R. Howard, Esq.
          JONES DAY
          222 East 41st Street
          New York, NY 10017
          Telephone: (212)326-3939
          Facsimile: (212)755-7306
          E-mail: pdleake@jonesday.com
                  llaukitis@jonesday.com
                  grhoward@jonesday.com

                - and -

          Brad B. Erens, Esq.
          Joseph M. Tiller, Esq.
          JONES DAY
          77 West Wacker
          901 Lakeside Avenue
          Chicago, IL 60601
          Telephone: (312)782-3939
          Facsimile: (312)782-8585
          E-mail: bberens@jonesday.com
                 jtiller@jonesday.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.


MOTORS LIQUIDATION: Drivers Want Rulings on Protection Reversed
---------------------------------------------------------------
Emily Field at Bankruptcy Law360 reported that two groups of
consumers pressed the Second Circuit on Feb. 1, 2016, to reverse
rulings that General Motors' bankruptcy protections block most car
owners from suing New GM for billions over an ignition switch
defect.

One group, a proposed class led by Steve Groman, again urged the
appeals court in a reply brief to overturn U.S. Bankruptcy Judge
Robert Gerber's April 2014 decision that General Motors LLC is
protected from most of the suits, saying that New GM has largely
failed to respond to their arguments.

                     About Motors Liquidation

General Motors Corporation and three of its affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 09-50026) on
June 1, 2009.  The Honorable Robert E. Gerber presides over the
Chapter 11 cases.  Harvey R. Miller, Esq., Stephen Karotkin,
Esq., and Joseph H. Smolinsky, Esq., at Weil, Gotshal & Manges
LLP, assist the Debtors in their restructuring efforts.  Al Koch
at AP Services, LLC, an affiliate of AlixPartners, LLP, serves as
the Chief Executive Officer for Motors Liquidation Company.  GM
is also represented by Jenner & Block LLP and Honigman Miller
Schwartz and Cohn LLP as counsel.  Cravath, Swaine, & Moore LLP
is providing legal advice to the GM Board of Directors.  GM's
financial advisors are Morgan Stanley, Evercore Partners and the
Blackstone Group LLP.  Garden City Group is the claims and notice
agent of the Debtors.

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

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

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

As of June 30, 2015, Motors Liquidation had $860 million in total
assets, $74 million in total liabilities and $786 million in net
assets in liquidation.


NATIONAL UNION: Court Affirms $10MM Coverage for Previti Parties
----------------------------------------------------------------
James P. Previti, The James Previti Family Trust, Previti Realty
Fund, LP, Larry Day, Empire Partners, Inc., Empire Residential,
Inc., Forecast Corporation, Guardian Commercial Real Estate, LP,
Guardian Investment Capital, LLC, Neil Miller, and Paul Roman
appeal from the partial judgment entered against them and in favor
of Appellee National Union Fire Insurance Company of Pittsburgh.

National Union issued to the Previti Parties three Directors,
Officers and Private Company Liability insurance policies for the
consecutive periods December 31, 2007, to April 28, 2009, April 28,
2009, to April 28, 2010, and April 28, 2010, to April 28, 2011.
Each policy provided a limit of liability of $10 million.  In
November 2008, the Previti Parties sent to National Union a copy of
a motion for entry of order converting Chapter 11 bankruptcy cases
to Chapter 7, which alleged preferential and fraudulent transfers
of money from the debtor companies to non-debtor affiliates.
National Union accepted the Conversion Motion as a Notice of
Circumstances invoking coverage under the 2007-2009 Policy.

After the Chapter 7 trustee filed its first action on May 12, 2009,
the Previti Parties submitted a claim under the 2007-2009 Policy,
for which National Union agreed to advance defense costs.
Thereafter, the Previti Parties argued that the subsequent
twenty-seven claims filed against them fell under the later two
policies, thus entitling them to advancement of an additional $20
million in defense costs under the 2009-2010 and 2010-2011
Policies. The district court granted partial summary judgment for
National Union, finding that all twenty-eight actions, together
called the Underlying Actions, fell under the 2007-2009 Policy
alone, entitling the Previti Parties only to $10 million in
coverage, and not to an additional $20 million provided through the
subsequent policies.

On appeal, the Previti Parties offer three arguments: first, that
in granting partial summary judgment the district court applied an
incorrect burden of proof; second, that the district court
construed the term "Related Wrongful Acts" in the relevant policies
over broadly; and, third, that the district court erred in
concluding that the 2008 Notice of Circumstances constituted
sufficient notice as to all of the Underlying Actions.

In a Memorandum dated January 22, 2016, which is available at
http://is.gd/1gGV4ofrom Leagle.com, the United States Court of
Appeals for the Ninth Circuit affirmed the district court’s
partial summary judgment in favor of National Union as none of the
Previti Parties' arguments withstands scrutiny.

The case is JAMES P. PREVITI, et al., Plaintiffs-Appellants, v.
NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA,
Defendant-Appellee, No. 13-56368.


NESCO LLC: S&P Lowers CCR to 'CCC' on Weak Liquidity
----------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
corporate credit rating on Bluffton, Ind.-based specialty equipment
rental company NESCO LLC to 'CCC' from 'B-'.  The outlook is
negative.

S&P also lowered its issue rating on the company's senior secured
second-lien notes to 'CCC-' from 'CCC+'.  The recovery rating on
these notes is unchanged at '5', indicating S&P's expectation of
modest (10%-30%, lower end of the range) recovery prospects in the
event of a payment default.

"We believe the upcoming February interest payment will leave NESCO
with very low borrowing capacity under its asset-backed revolving
facility.  We believe NESCO is at risk of violating its springing
covenant or not meeting its next scheduled interest payment if
operating performance does not improve and the company does not
curtail its capital expenditures," said Standard & Poor's credit
analyst Svetlana Olsha.

S&P could lower the rating if the company is unable to increase its
liquidity by increasing its asset-backed revolving facility
availability to prevent the triggering of the springing covenants
and/or it becomes apparent the company will struggle to meet debt
service requirements.  One or both of these events could lead S&P
to the conclusion that a default, distressed exchange, or
redemption is inevitable.

S&P could revise the outlook to stable or raise the rating if NESCO
significantly improves the availability under its revolver, and if
the risk of a covenant breach is low and S&P is comfortable with
the ability to meet debt service requirements.


NEW GULF RESOURCES: Backstop & Plan Support Agreements Revised
--------------------------------------------------------------
New Gulf Resources, LLC, et al., on Feb. 1, 2016, filed a notice of
an omnibus amendment to their Backstop Note Purchase Agreement and
Restructuring Support Agreement.  

On Dec. 17, 2015, the Debtors filed motions to assume the Backstop
Note Purchase Agreement and to assume the RSA.  The hearing on the
motions is scheduled this February.  

A black-lined copy of the Omnibus Amendment against the draft of
the document filed with the Court on Jan. 21, 2016, is available
for free at:

   http://bankrupt.com/misc/New_Gulf_231_Am_Backstop_RSA.pdf

As reported in the Troubled Company Reporter, the Debtors relate
that two core elements of their Chapter 11 cases are the raising of
new capital through a rights offering and the conversion of
necessary debtor-in-possession financing into flexible exit
financing.

The Debtors have negotiated a chapter 11 plan of reorganization
with the members of the Ad Hoc Committee, who collectively hold at
least approximately 72% of the Second Lien Notes and approximately
22% of the Subordinated PIK notes.  The Debtors on Dec. 17, 2015,
entered into the RSA with certain holders of the senior secured
notes.

The Plan contemplates that the Debtors will issue, as exit
financing, New First Lien Notes in the Original principal amount of
$135.25 million.  Under the Plan, the New First Lien Notes issuance
would satisfy in full the claims of the Debtors' DIP Lenders,
through a dollar-for-dollar exchange of the approximately $75
million in borrowings under the DIP Facility, and raise an
additional $50 million of new operating capital.  The Debtors
relate that under the Plan, they will offer the right to fund the
Rights Offering Amount, on a pro rata basis, to holders of the
prepetition Second Lien Notes through the Rights Offering.  They
note that the terms of the New First Lien Notes will minimize debt
service obligations by allowing the reorganized Debtors, at their
election, to pay all interest in kind for up to five years.

To ensure that the Rights Offering raises the required funds for a
successful emergence from bankruptcy, the Backstop Agreement
memorializes each Backstop Party's commitment to purchase its pro
rata share of the Rights Offering Notes.  In exchange, the Debtors
agreed to provide the Backstop Parties:

     (i) the Put Option Notes, which constitutes a put option
         premium payment in the total amount of $5 million,
         payable entirely in New First Lien Notes;

    (ii) a Liquidated Damages Payment, representing liquidated
         damages in the amount of $3.5 million should the Debtors
         exercise the Fiduciary Out and consummate an alternative
         transaction;

   (iii) payment and reimbursement of all transaction expenses,
         which include reasonable fees and expenses incurred by
         the Backstop Parties and their professionals in
         connection with the transactions contemplated under
         the Restructuring Support Agreement, the Plan, the DIP
         Facility, the Rights Offering and the Backstop
         Agreement; and

    (iv) indemnification of the Backstop Parties and their
         affiliated parties and representatives from and against
         any and all losses, claims, damages, liabilities and
         expenses they may sustain, incur or suffer in connection
         with the transactions contemplated under the RSA, the
         Plan, the DIP Facility, the Rights Offering and the
         Backstop Agreement.

New Gulf Resources is represented by:

          M. Blake Cleary, Esq.
          Ryan M. Bartley, Esq.
          Justin P. Duda, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          100 N. King Street
          Rodney Square
          Wilmington, DE 19801
          Telephone: (302)571-6600
          E-mail: mbcleary@ycst.com
                  rbartley@ycst.com
                  jduda@ycst.com

                - and -

          C. Luckey McDowell, Esq.
          Ian E. Roberts, Esq.
          Meggie S. Gilstrap, Esq.
          BAKER BOTTS L.L.P.
          2001 Ross Avenue
          Dallas, TX 75201
          Telephone: (214)953-6500
          E-mail: luckey.mcdowell@bakerbotts.com
                  ian.roberts@bakerbotts.com
                  meggie.gilstrap@bakerbotts.com

                     About New Gulf Resources

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

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

The Company currently employs 55 people.

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

Judge Brendan Linehan Shannon has been assigned the case.


NORANDA ALUMINUM: Case Summary & 30 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

       Debtor                                       Case No.
       ------                                       --------
       Noranda Aluminum, Inc.                       16-10083
       P.O. Box 70/391 St. Jude Industrial Park
       New Madrid, MO 63869

       Noranda Aluminum Holding Corporation         16-40739

       Noranda Aluminum Acquisition Corporation     16-40740

       NHB Capital, LLC                             16-40741

       Noranda Intermediate Holding Corporation     16-40742

       Norandal USA, Inc.                           16-40743

       Gramercy Alumina Holdings Inc.               16-40744

       Gramercy Alumina Holdings II, Inc.           16-40745

       Noranda Alumina LLC                          16-40746

       Noranda Bauxite Holdings Ltd.                16-40747

       Noranda Bauxite Limited                      16-40748

Type of Business: Producers of primary aluminum and high-quality
                  rolled aluminum coils

Chapter 11 Petition Date: February 8, 2016

Court: United States Bankruptcy Court
       Eastern District of Missouri (Cape Girardeau)

Judge: Hon. Barry S. Schermer

Debtors'          Alan W. Kornberg, Esq.  
General           Elizabeth McColm, Esq.
Counsel:          Alexander Woolverton, Esq.
                  PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
                  1285 Avenue of the Americas
                  New York, NY 10019-6064
                  Tel: 212.373.3000
                  Fax: 212.757.3990               
                  Email: akornberg@paulweiss.com
                         awoolverton@paulweiss.com

Debtors' Local    Christopher J. Lawhorn, Esq.
Counsel:          Angela L. Drumm, Esq.
                  Colin M. Luoma, Esq.
                  CARMODY MACDONALD P.C.
                  120 South Central Ave., Suite 1800
                  Clayton, MO 63105
                  Tel: (314) 854-8600
                  Email: cjl@carmodymacdonald.com
                         ald@carmodymacdonald.com
                         cml@carmodymacdonald.com

Debtors'          PJT PARTNERS, LP
Investment
Banker:

Debtors'          Charles Moore   
Restructuring     Holden Bixler
Advisors:         ALVAREZ & MARSAL NORTH AMERICA, LLC
                  1000 Town Center, Suite 750
                  Southfield, MI 48075
                  Tel: 248.936.0800
                  Fax: 248.936.0801
                  Email: cmoore@alvarezandmarsal.com
                         hbixler@alvarezandmarsal.com

Debtors'          PRIME CLERK LLC
Claims,
Solicitation,
and Balloting
Agent:

Estimated Assets: $1 billion to $10 billion

Estimated Debts: $1 billion to $10 billion

The petition was signed by Dale W. Boyles, chief financial
officer.

List of Debtor's 30 Largest Unsecured Creditors:


   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
U.S. Bank National Association       11% Senior      $175,000,000
U.S. Bank Global                   Unsecured Notes
Corporate Trust Services
100 Wall Street - Suite 1600
New York, NY 10005

Surela Investments Ltd.                 Loan          $16,875,000
c/o Aviva Stewart
50 Berkeley Street
London, W1J 8HD
England, United Kingdom

Petrocoque S.A.                     Trade Payable      $6,031,172
Rodovia Conego
Domenico Rangoni, KM 267,5
Zona Industrial
Cubatao, SP 11573-000

University and Allied                 Litigation       $2,856,865
Workers Union                         Settlement
50 Lady Musgrave Road
Kingston 10 Jamaica

Rain CII Carbon, LLC                 Trade Payable     $2,235,494
Attn: President and General
Counsel
Ten Signal, 2nd Floor
Stamford, CT 06902

Artisan Contracting, LLC             Trade Payable     $2,156,575
Attn: Larry E. Frankum
President
160 South Broadview,
Third Floor
Cape Girardeua, MO 63703

MAX Trans LLC                        Trade Payable     $1,688,798
Attn: President or
General Counsel
219 Hwy 45
Humboldt, TN 38343

Kostmayer Construction, LLC          Trade Payable     $1,609,762
Attn: President and General
      Counsel
1080 Old Spanish Trail
Suite  #14
Slidell, LA 70458

Motion Industries, Inc.              Trade Payable     $1,269,707
Attn: President or General Counsel
1605 Alton Rd.
Birmingham, AL 35210

Mid-Ship Group LLC                   Trade Payable     $1,130,603
Attn: President or General Counsel
145 Main Street
Port Washington, NY 11050

Associated Terminals, LLC            Trade Payable     $1,030,668
Attn: Todd Fuller, President
9100 Safety Drive
Covent, LA 70723

Mexichem Fluor                       Trade Payable     $1,011,623
Commercial, S.A. De C.V.
Attn: President and
      General Counsel
Carretera A Reynosa
KIM4.5 S/Nejido
Las Rusiasma Tamoros,
TM 87560

Mechatherm                            Trade Payable      $805,921
Attn: President and General
Counsel
Hampshire house
High Street
Kingswinford DY6 8AW

Remedial Construction                 Trade Payable      $742,692
Services, L.P.
Attn: Jerry O. Mason
President and CEO
9977 W. Sam Houston
Parkway N. Suite 100
Houston, TX 77064-7509

Koppers Industries, Inc.              Trade Payable      $716,700
Attn: Markus G. Spiess
436 Seventh Avenue
Pittsburgh, PA 15219-1800

Progressive Roofing                   Trade Payable      $714,955
23 North 35th Avenue
Phoenix, AZ 85009

Carmeuse Lime Sale Corporation        Trade Payable      $641,724
Attn: Kven Whyte, VP Safety
Environmental and Legal
11 Stanwix Street
21st Floor
Pittsburgh, PA 15222

DMI Contractors, Inc.                 Trade Payable      $597,102
Attn: President or
General Counsel
16942 Old Hammond Highway
Baton Rouge, LA 70816

Occidental Chemical Corporation       Trade Payable      $552,027
Attn: President or General
Counsel
5005 LBJ Freeway
Dallas, TX 75380-9050

EIU, Inc.                             Trade Payable      $550,000
Electric & Instrumentation
Unlimited
204 S Bernard Rd
Broussard, LA 70518

Boh Bros.                             Trade Payable      $519,176
Construction Co., LLC
Attn: Ed Scheuermann, P.E.
730 South Tonti Street
New Orleans, LA 70119

Nalco Company                         Trade Payable      $480,618
Attn: Stephen N. Landsman, Esq.
1601 W. Diehl Rd
Naperville, IL 60563-1198

HDR Inc.                              Trade Payable      $443,623
Attn: Jody Debs
8404 Indian Hills Drive
Omaha, NE 68114-4098

Steward Steel                         Trade Payable      $435,745
Attn: Fred Steward, Jr., CEO
1219 East US Highway 62
P.O. Box 551
Sikeston, MO 63801

Nissan Lift Trucks                    Trade Payable      $377,340
Attn: President and General
Counsel
Nissan North America, Inc.
1 Nissan way
Franklin, TN 37067

Aramark                               Trade Payable      $340,891
Attn: Steve Reynolds
Aramark Tower
1101 Market Street
Philadelphia, PA 19107

Vecta Environmental Services, LLC     Trade Payable       $33,586
Attn: Kenny Rouse
3122 S. Ruby Street
Gonsales, LA 70737

CCC Group, Inc.                       Trade Payable      $322,589
Attn: Edna A. Martinez
5797 Dietrich Road
San Antonio, TX 78219

American River                        Trade Payable  Undetermined
Transporation
Attn: Jennifer Marshall
General Counsel
4666 Faries Parkway
Decatur, IL 62526-5630

Donjon Marine Co. Inc.                  Litigation   Undetermined
100 Central Ave
Hiillside, NJ 07205


NORANDA ALUMINUM: Files for Chapter 11 Amid Aluminum Price Drop
---------------------------------------------------------------
Noranda Aluminum, Inc., et al., sought protection under Chapter 11
of the Bankruptcy Code blaming, among other things, the sustained
and dramatic decline in the price of primary aluminum.  The Debtors
said their businesses have reached a point of unsustainability
without assistance from the Court and use of the restructuring
tools provided by the Bankruptcy Code.

Headquartered in New Madrid, Missouri, the Debtors are engaged in
the production of primary aluminum and rolled aluminum coils.  In
2015, the Debtors produced approximately 498 million pounds of
primary aluminum, Court document indicates.

The Debtors operate their businesses through two main business
lines: the "Upstream Business" and the "Downstream Business."  The
Company's Upstream Business consists of three separate segments:
(1) The Debtors' bauxite mining operations (the "St. Ann Facility")
which are operated by Noranda Bauxite Ltd. (Jamaica), (2) The
Debtors' alumina refinery in Gramercy, Louisiana owned and operated
by Noranda Alumina LLC and (3) the New Madrid Facility which
converts molten primary aluminum into value-added products.  The
"Downstream Business" is owned and operated by Norandal USA, Inc.
It consists of three rolling mills located in (a) Salisbury, North
Carolina, (b) Huntingdon, Tennessee, and (c) Newport, Arkansas.

In fiscal year 2014, the company reported total revenues of
approximately $1.355 billion and a net loss of approximately $26.6
million.  Through Dec. 31, 2015, the Debtors reported total
revenues of approximately $1.23 billion and a net loss of
approximately $258 million.

In their bankruptcy filing, the Debtors disclosed that additional
exacerbating factors have placed significant pressure on their
already strained businesses, including:

   (i) multiple incidents at the New Madrid Facility;

  (ii) the substantial increase in rates the Debtors pay for
       electricity to power the New Madrid Facility;

(iii) an unsuccessful arbitration with the Government of Jamaica
       regarding the production levy NBL is obligated to pay to
       the Government of Jamaica for the bauxite it mines;

  (iv) the Bauxite Supply Contract with Alumina Co., LLC, one of
       NBL's significant customers, that is substantially below-
       market, thereby increasing NBL's operational challenges;
       and

   (v) significant labor-related liabilities.  

At the same time, the Debtors said their liabilities have been
increasing at an unsustainable pace.

Primary aluminum is a global commodity, and its price is set on
global exchanges such as the London Metal Exchange.  Dale W.
Boyles, chief financial officer of Noranda, disclosed in a
declaration filed with the Court that the LME price has experienced
a significant decline since November 2014, as a result of (i) an
oversupply of aluminum in the market; (ii) increasing exports from
China; and (iii) decreased demand, resulting in the lowest prices
since 2009.

"The net result of the industry-wide downturn, coupled with the
Company's leverage and dwindling liquidity, was a material decrease
in the Debtors' financial performance in 2015," said Mr. Boyles.

On Aug. 4, 2015, a molten metal explosion occurred in the casthouse
of the Debtors' facility in New Madrid, where molten aluminum is
converted into commodity and value added products.  A portion of
the casthouse suffered extensive damage, affecting the Debtors'
entire production of extrusion billet, a product that earns
fabrication premiums for the Debtors, which adversely affected
their Upstream Business' operations.  Additionally, on Jan. 7,
2016, the Debtors lost power to two of the three pot-lines for
smelting primary aluminum at the New Madrid Facility when an
electrical control circuit failed.  As a result, production was
curtailed at these two pot-lines.

Since 2008 through May 31, 2015, Ameren Missouri, the Debtors'
long-term supplier of electricity, has brought successful rate
increase cases before the Missouri Public Service Commission,
resulting in cumulatively increased annual power costs in the
amount of approximately $44 million.

On Dec. 18, 2015, an arbitration panel issued its decision
resolving the Debtors' disputes with the GOJ concerning the amount
of the production levy payments required to be paid under a
Establishment Agreement with the GOJ.  While the Debtors await the
arbitration panel's final award, the Debtors calculate the
effective production levy in effect for the year ended Dec. 31,
2015, to be approximately $6.35 per DMT of bauxite, and the
effective production levy in effect for 2016 to be $5.78 per DMT of
bauxite, comprised of a base levy of $5.00, plus an LME adjustment
of $0.78.  According to Mr. Boyles, this substantial increase in
the production levy has placed significant additional pressure on
their ability to operate their St. Ann Facility.

Mr. Boyles related that the economic terms of a Bauxite Supply
Contract between NBL with a subsidiary of Glencore are so
unsustainable for NBL that they threaten the viability of the
Upstream Business.  Thus, the Debtors are seeking permission from
the Court to reject the Bauxite Supply Contract.

Moreover, the Debtors have substantial and unsustainable
labor-related liabilities, principally in the form of pension
obligations.

As disclosed in the filing, significant steps have been taken to
improve their financial condition.  In April 2015, the MPSC
established a reduced electricity rate structure for the New Madrid
Facility, which, prior to the planned idling of the New Madrid
Facility, the Debtors project would have resulted in $17 to $25
million in annual savings.  The Debtors have also completed a
reduction in force affecting approximately 628 of the Debtors'
employees, which accounted for approximately 25% of the Debtors'
total workforce.

"Despite these efforts, the sustained decline in aluminum prices
has only intensified the pressure on the Debtors' business and
capital structure.  This has made maintaining acceptable levels of
liquidity impossible," Mr. Boyles maintained.

                          DIP Financing

The Debtors secured two separate but coordinated facilities in
the form of an asset-based revolving credit facility and a term
loan facility, and an agreement in principle to use the Prepetition
Secured Lenders' collateral, including cash collateral.  One of the
DIP Facilities is a senior secured asset-based revolving credit
facility in the principal amount not to exceed approximately $130
million, including sub-facilities for swingline loans in an amount
equal to $10 million and letters of credit in an amount equal to
$50 million, with Bank of America, N.A., acting as agent, for
itself and a syndicate of banks, financial institutions and other
institutional lenders party to the ABL Facility.  The other DIP
Facility is a senior secured, new money multiple draw term loan
facility in the principal amount of $35 million to be provided by
certain lenders party to the Debtors' Term Loan Agreement.

"Access to cash collateral and credit under the DIP Facilities will
instill much needed confidence in parties that are critical to the
success of the Chapter 11 Cases, including the Debtors' employees,
vendors, regulators and customers, as well as potential bidders for
the Debtors' assets," Mr. Boyles said.  "I believe this assurance
greatly enhances the likelihood that the Debtors will continue to
receive the support of key constituents during the pendency of the
Chapter 11 Cases, and increases the opportunity for a robust,
competitive sale process that will yield the greatest recovery for
the Debtors' estates and creditors," he added.

The DIP Facilities contemplate a comprehensive sale process for the
"Downstream Business".  With respect to the "Upstream Business",
the Debtors intend to continue operating the New Madrid Facility
until its existing supplies and inventory are exhausted, which the
Debtors expect to be March 2016.  After that point, remaining
operations at the New Madrid Facility will be curtailed, though the
Debtors will retain the flexibility, should conditions allow, to
resume operations at the New Madrid Facility.

The Debtors intend to continue to operate the St. Ann and
Gramercy, Loiusiana Facilities at full production levels throughout
the Chapter 11 cases.  With respect to the Gramercy Facility, the
Debtors intend increase domestic and export smelter grade alumina
shipments, to replace the New Madrid Facility's alumina
consumption.

                        First Day Motions

Contemporaneously with the petitions, the Debtors filed certain
first day motions seeking authority to, among other things,
continue existing insurance policies, prohibit utility providers
from discontinuing services, pay employee compensation, pay
critical vendor claims, use existing cash management system,

A copy of the declaration in support of the First Day Motions is
available for free at:

     http://bankrupt.com/misc/5_NORANDA_Declaration.pdf

                      About Noranda Aluminum

Noranda Aluminum, Inc., and 10 of its affiliates filed separate
Chapter 11 bankruptcy petitions (Bankr. E.D. Mo. Proposed Lead Case
No. 16-10083) on Feb. 8, 2016.  The petitions were signed by Dale
W. Boyles as chief financial officer.  Judge Barry S. Schermer is
assigned to the case.

The Debtors have engaged Paul, Weiss, Rifkind, Wharton & Garrison
LLP as counsel, Carmody MacDonald P.C. as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC as restructuring advisors and Prime Clerk LLC as claims,
solicitation and balloting agent.

The Debtors estimated both assets and liabilities in the range of
$1 billion to $10 billion.  As of the Petition Date, the Debtors
had approximately $529.6 million in outstanding principal amount of
secured indebtedness, consisting of a revolving credit facility and
a term loan facility.

The Debtors had approximately 1,857 employees as of the Petition
Date.


NORANDA ALUMINUM: In Ch. 11 to Stabilize Upstream Operations
------------------------------------------------------------
Noranda Aluminum Holding Corporation on Feb. 8 disclosed that
Noranda and all of its wholly owned direct and indirect
subsidiaries have filed voluntary petitions for a court-supervised
restructuring process under Chapter 11 of the United States
Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern
District of Missouri.  Noranda has taken this action to have
additional time and financial flexibility to evaluate options for
its various business operations.

In conjunction with the filing, Noranda has entered into an
agreement in principle with its existing ABL lenders for up to $130
million in debtor-in-possession ("DIP") financing and has received
a commitment for up to $35 million in incremental DIP financing
provided by certain existing term loan lenders.

Upon approval by the Court, the new financing, combined with cash
generated from the Company's ongoing operations, will be used to
support the business during the court-supervised process.

Kip Smith, Noranda's President and Chief Executive Officer, said,
"In light of the challenging market conditions for the aluminum
industry and the recent disruptions in our primary business
operations, the Board and management team, with the support of our
principal lenders, determined that undertaking this
court-supervised process is in the best interests of Noranda and
its stakeholders.  We believe this court-supervised process will
provide us with time and financial flexibility to evaluate options
to enhance the sustainability of our major business operations."

The Company has filed a number of customary motions seeking court
authorization to support its business operations during the
court-supervised process, including the payment of employee wages,
salaries and health and disability benefits.  The Company expects
to receive court approval for these requests shortly.  For goods
and services provided post-Chapter 11 filing, the Company intends
to pay suppliers in full under normal terms.

Business Unit Operating Status

Describing the current operating status of each of the Company's
businesses, Mr. Smith said, "Our objective is to stabilize our
upstream operations as we explore ways to make them economically
viable.  Our downstream Flat-Rolled Products business is
profitable, generates positive cash flow and continues to serve
customers in the ordinary course.  As we move forward, we remain
committed to strong relationships with our customers and suppliers
and continuing our longstanding dedication to operational safety
and environmental stewardship in our communities."

   -- The Company expects to continue operating the single
remaining pot line at its primary aluminum smelter in New Madrid,
Missouri until March 2016.  At that point, all remaining operations
at New Madrid will be curtailed, although the Company will maintain
the flexibility to restart operations at New Madrid should
conditions allow.  As previously announced, an electrical circuit
failure in January 2016 resulted in the idling of two of the three
pot lines at the New Madrid facility.

   -- The alumina refinery in Gramercy, Louisiana continues to
operate at full production levels while executing actions necessary
to operate without the New Madrid smelter as a major source of
demand.  These actions are principally focused on building upon
current progress to secure suitable replacement volume for alumina
previously provided to the New Madrid smelter, along with achieving
additional cost reductions and maintaining the Company's bauxite
business as a secure source of supply.  Consistent with these
actions, and in addition to increasing third-party domestic and
export smelter grade alumina shipments, the Company is in the
process of implementing a fast track expansion of the refinery's
non-metallurgical or chemical grade alumina capacity, which
approximately doubles the refinery's capacity for this product
segment by March 2016.

   -- Noranda Bauxite Limited ("NBL"), a wholly-owned subsidiary of
Noranda, is continuing production and its partnership with the
Government of Jamaica at its Noranda Jamaica Bauxite Partners mine
in St. Ann, Jamaica.  To maintain NBL as a secure source of bauxite
supply to the Company's alumina operations, the Company continues
to focus its efforts on improving productivity and reducing its
costs, as well as maintaining bauxite sales volumes and achieving
improved pricing with respect to its largest third party customer,
Sherwin Alumina LLC.  Sherwin filed for Chapter 11 relief in
January 2016.

   -- The Company's Flat-Rolled Products business continues to
benefit from stable U.S. demand for its products and to operate and
serve customers in the ordinary course.  Noranda sources metal from
a portfolio of suppliers and is confident it has access to
sufficient sources of aluminum to meet customer commitments for
flat-rolled products.  It is likely that the downstream Flat-Rolled
Products business will be the subject of a court-supervised sale
process.

Company Names Chief Restructuring Officer

Noranda's Board of Directors has appointed Robert M. Caruso as
Chief Restructuring Officer.  
Mr. Caruso is a noted financial restructuring expert and a Managing
Director of Alvarez & Marsal, a leading restructuring firm.

Mr. Smith stated, "We are fortunate to have the benefit of Bob's
experience and expertise in this crucial role.  With resources he
brings from Alvarez & Marsal, Bob's involvement will serve the
Company and its stakeholders well as we proceed through the
court-supervised process."

Alvarez & Marsal is serving as the Company's restructuring advisor,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as its restructuring
counsel, and PJT Partners Inc. as its financial advisor.

                     About Noranda Aluminum

Noranda Aluminum Holding Corporation is an integrated producer of
primary aluminum and high-quality rolled aluminum coils.  The
Company has two businesses: an Upstream Business and a Downstream
Business.  The Upstream Business consists of a smelter near New
Madrid, Missouri, referred to as "New Madrid," and supporting
operations at a bauxite mining operation ("St. Ann") and an alumina
refinery ("Gramercy").  The Downstream, or Flat-Rolled Products
Business is one of the largest aluminum foil producers in North
America, and consists of four rolling mill facilities.

                         *    *     *

As reported by the TCR on Nov. 18, 2015, Standard & Poor's Ratings
Services lowered its corporate credit rating on Franklin,
Tenn.-based Noranda Aluminum Holding Corp. to 'CCC+' from 'B-'.
The downgrade reflects S&P's view that Noranda's capital structure
is unsustainable in the long term, given that credit measures have
worsened considerably and the financial risk profile remains
"highly leveraged."

Noranda Aluminum carries a 'B1' corporate credit rating from
Moody's Investors Service.


NORANDA ALUMINUM: Proposes Procedures to Protect NOLs
-----------------------------------------------------
Noranda Aluminum, Inc., and its affiliated debtors seek authority
from the Bankruptcy Court to establish notification and hearing
procedures regarding the trading of, or declarations of
worthlessness with respect to, equity securities in Noranda
Aluminum Holding. According to the Debtors, the procedures are
designed to monitor trading of their Equity Securities particularly
if it appears that additional trading may jeopardize the use of
their tax attributes.

The Debtors have incurred, and are currently incurring, significant
net operating losses, which are currently expected to be between
$15 million and $25 million as of the end of 2015, translating to
potential tax savings of between $5.25 million and $8.75 million
based on a 35% federal income tax rate.  The Internal Revenue Code
of 1986 permits a corporation to carry forward Tax Attributes to
offset taxable income and tax liability, thereby significantly
improving the corporation's liquidity in the future.  The Debtors'
NOLs consist of losses generated for federal income tax purposes
that can be "carried forward" to up to 20 subsequent tax years to
offset the Debtors' future taxable income, thereby reducing future
aggregate tax obligations.

"The Debtors' NOLs are substantial and any loss of the Debtors' Tax
Attributes could cause significant and irreparable damage to the
estates and stakeholders," Christopher J. Lawhorn, Esq., at Carmody
MacDonald, P.C., counsel for the Debtors, said.  

       Proposed Procedures for Trading in Equity Securities

Any Entity that currently is or becomes a Substantial Shareholder
shall file with the Court, and serve upon (i) counsel to the
Debtors, Paul, Weiss, Rifkind, Wharton & Garrison LLP, 1285 Avenue
of the Americas, New York, New York 10019, Attention: Elizabeth R.
McColm & Alexander Woolverton; (ii) counsel to the Term Loan DIP
Agent, Kaye Scholer LLP, 70 West Madison Street, Suite 4200,
Chicago, Illinois 60602, Attention: Seth J. Kleinman; and (iii)
counsel to the ABL DIP Agent, Parker, Hudson, Rainer & Dobbs LLP,
303 Peachtree St. NE, Suite 3600, Atlanta, Georgia 30308,
Attention: Rufus T. Dorsey, a declaration of such status, on or
before the later of (i) 30 days after the date of the Notice of
Proposed Order and (ii) 10 days after becoming a Substantial
Shareholder.

Prior to effectuating any transfer of, or exchange or conversion
into, shares of Equity Securities that would result in an increase
in the amount of shares of Equity Securities of which a Substantial
Shareholder has Beneficial Ownership or that would result in an
Entity becoming a Substantial Shareholder, such Entity or
Substantial Shareholder shall file with the Court, and serve upon
Notice Parties written declaration of the intended transfer of
Equity Securities, specifically and in detail describing the
proposed transaction in which shares of Equity Securities would be
acquired.

Prior to effectuating any transfer of shares of Equity Securities
that would result in a decrease in the amount of shares of Equity
Securities of which a Substantial Shareholder has Beneficial
Ownership or would result in an Entity ceasing to be a Substantial
Shareholder, such Substantial Shareholder shall file with the
Court, and serve upon Notice Parties an advance written declaration
of the intended transfer of Equity Securities a Declaration of
Intent to Purchase, Acquire or Accumulate Equity.

The Debtors will have 20 calendar days after receipt of a
Declaration of Proposed Transfer to file with the Court and serve
on such Substantial Shareholder an objection to any proposed
transfer of shares of Equity Securities described in the
Declaration of Proposed Transfer on the grounds that such transfer
might adversely affect the Debtors' ability to utilize their Tax
Attributes.

If the Debtors file an objection, such transaction would not be
effective unless such objection is withdrawn by the Debtors or such
transaction is approved by a final order of the Court that becomes
nonappealable.  If the Debtors do not object within such 20-day
period, the transaction could proceed solely as set forth in the
Declaration of Proposed Transfer.

Any acquisition, disposition or other transfer of Beneficial
Ownership of shares of Equity Securities, including Options to
acquire shares of Equity Securities, in violation of the procedures
will be null and void ab initio as an act in violation of the
automatic stay under Bankruptcy Code Sections 362 and 105(a).

The Debtors also request that the Court enter an order restricting
the ability of shareholders that own or have owned 50% or more, by
value, of the Debtors' Equity Securities to claim a deduction for
the worthlessness of those securities on their federal or state
tax returns for a tax year ending before the Debtors emerge from
chapter 11 protection.  

"By restricting 50% shareholders from claiming a worthlessness
deduction prior to the Debtors' emergence from chapter 11
protection, the Debtors can preserve their ability to seek
substantive relief to use the NOLs at a later date," Mr. Lawhorn
asserted.

                    About Noranda Aluminum

Headquartered in New Madrid, Missouri, Noranda Aluminum, Inc., et
al., engaged in the production of primary aluminum and rolled
aluminum coils, filed separate Chapter 11 bankruptcy petitions
(Bankr. E.D. Mo. Proposed Lead Case No. 16-10083) on Feb. 8, 2016.
The petitions were signed by Dale W. Boyles as chief financial
officer.  Judge Barry S. Schermer is assigned to the case.

The Debtors estimated both assets and liabilities in the range of
$1 billion to $10 billion.  As of the Petition Date, the Debtors
had approximately $529.6 million in outstanding principal amount of
secured indebtedness, consisting of a revolving credit facility and
a term loan facility.

The Debtors have engaged Paul, Weiss, Rifkind, Wharton & Garrison
LLP as general counsel, Carmody MacDonald P.C. as local counsel,
PJT Partners, LP as investment banker, Alvarez & Marsal North
America, LLC as restructuring advisors and Prime Clerk LLC as
claims, solicitation and balloting agent.

The Debtors had approximately 1,857 employees as of the Petition
Date.


NORANDA ALUMINUM: Seeking Joint Administration of Cases
-------------------------------------------------------
Noranda Aluminum, Inc., and 10 of its affiliates ask the Bankruptcy
Court to jointly administer their Chapter 11 cases under Lead Case
No. 16-10083.

"There is no question that the joint administration of the Debtors'
respective estates will ease the administrative burden on the Court
and all parties in interest in these Chapter 11 Cases, particularly
in light of the unified manner in which the Debtors operate their
businesses," according to Christopher J. Lawhorn, Esq., at Carmody
MacDonald, P.C., counsel for the Debtors.

According to Mr. Lawhorn, the joint administration of these Chapter
11 cases will also:

   (a) permit the Clerk of the Court to utilize a single docket
       for all the Chapter 11 cases and to combine notices to
       creditors and other parties-in-interest in the Debtors'
       respective cases

   (b) permit counsel for all parties-in-interest to include the
       Chapter 11 cases in a single caption for the numerous
       documents that are likely to be filed and served in these
       cases;

   (c) enable parties-in- interest in each of the Chapter 11 cases
       to stay apprised of all the various matters before the
       Court.

Mr. Lawhorn added that joint administration will significantly
reduce the volume of paper that otherwise would be filed with the
Clerk of this Court, render the completion of various
administrative tasks less costly, and minimize the number of
unnecessary delays.  Moreover, he maintained, the supervision of
the administrative aspects of these Chapter 11 cases by the Office
of the United States Trustee will also be simplified.

The Debtors also seek authorization to file the monthly operating
reports required by the United States Trustee's Chapter 11
Guidelines for Debtors-In-Possession on a consolidated basis.  The
Debtors' proposed consolidated monthly operating reports will
identify disbursements on a Debtor-by-Debtor basis.

                     About Noranda Aluminum

Headquartered in New Madrid, Missouri, Noranda Aluminum, Inc., et
al., engaged in the production of primary aluminum and rolled
aluminum coils, filed separate Chapter 11 bankruptcy petitions
(Bankr. E.D. Mo. Proposed Lead Case No. 16-10083) on Feb. 8, 2016.
The petitions were signed by Dale W. Boyles as chief financial
officer.  Judge Barry S. Schermer is assigned to the case.

The Debtors estimated both assets and liabilities in the range of
$1 billion to $10 billion.  As of the Petition Date, the Debtors
had approximately $529.6 million in outstanding principal amount of
secured indebtedness, consisting of a revolving credit facility and
a term loan facility.

The Debtors have engaged Paul, Weiss, Rifkind, Wharton & Garrison
LLP as general counsel, Carmody MacDonald P.C. as local counsel,
PJT Partners, LP as investment banker, Alvarez & Marsal North
America, LLC as restructuring advisors and Prime Clerk LLC as
claims, solicitation and balloting agent.

The Debtors had approximately 1,857 employees as of the Petition
Date.


NORANDA ALUMINUM: Wants 45-Day Extension to File Schedules
----------------------------------------------------------
Noranda Aluminum, Inc., and its affiliated debtors ask the
Bankruptcy Court to extend their time to file schedules of assets
and liabilities, schedules of executory contracts and unexpired
leases and statements of financial affairs to March 24, 2016, (ii)
extend their deadline to schedule a meeting of creditors, (iii)
waive the requirements to file equity lists and provide notice to
equity security holders and (iv) authorize them to file a
consolidated list of 30 largest unsecured creditors.

The Debtors maintained they have spent the months preceding the
commencement of the Chapter 11 cases endeavoring to improve their
existing financial arrangements, striving to implement cost saving
measures and responding to several disruptions in their
operations.

"Due to the quantity of work necessary to complete the Schedules
and Statements and the competing demands upon the Debtors'
employees and professionals to assist in efforts to stabilize
business operations during the this critical time, the Debtors will
not be able to properly and accurately complete the Schedules and
Statements within the required fourteen (14) day time period," said
Christopher J. Lawhorn, Esq., at Carmody MacDonald P.C., attorney
for the Debtors.

Bankruptcy Rule 2003(a) provides that in a Chapter 11 case the
U.S. Trustee "shall call a meeting of creditors to be held no fewer
than 21 and no more than 40 days after the order for relief."
However, Local Rule 1007-6(A) allows the U.S. Trustee to reschedule
the Section 341 Meeting if the Court extends the time for filing
the Schedules and Statements to a date that is less than 10 days
before the Section 341 Meeting.  To the extent the U.S. Trustee
wishes schedule the Section 341 Meeting on a date
that is more than 40 days after the Petition Date, the Debtors also
request that the Court authorize the U.S. Trustee to do so.

Under Bankruptcy Rule 1007(a)(3), the Debtors are required to file
Equity Lists "within 14 days after entry of the order for relief."
Under Bankruptcy Rule 2002(d), the Debtors are required to give
notice of the order for relief to all equity security holders.  As
of Jan. 4, 2016, Aluminum Holding Corp., a publicly held company,
had approximately 10,000,000 outstanding shares of publicly-held
common stock.  The Debtors maintained that preparing a list of the
equity security holders of Noranda Aluminum Holding with last known
addresses and sending notices to all parties on that Equity List
would be extremely expensive and time-consuming.

Pursuant to Bankruptcy Rule 1007(d), a debtor must file "a list
containing the name, address and claim of the creditors that hold
the 20 largest unsecured claims, excluding insiders."  According to
the Debtors, numerous creditors are shared among themselves.   The
Debtors said compiling separate top 20 creditor lists for each
individual Debtor would consume an excessive amount of the Debtors'
scarce time and resources.  Moreover, because the Debtors will
request the U.S. Trustee to appoint a single official committee of
unsecured creditors in these Chapter 11 cases, a consolidated list
of the Debtors' largest creditors will, according to the Debtors,
better represent the Debtors' most significant unsecured
creditors.

                      About Noranda Aluminum

Headquartered in New Madrid, Missouri, Noranda Aluminum, Inc., et
al., engaged in the production of primary aluminum and rolled
aluminum coils, filed separate Chapter 11 bankruptcy petitions
(Bankr. E.D. Mo. Proposed Lead Case No. 16-10083) on Feb. 8, 2016.
The petitions were signed by Dale W. Boyles as chief financial
officer.  Judge Barry S. Schermer is assigned to the case.

The Debtors estimated both assets and liabilities in the range of
$1 billion to $10 billion.  As of the Petition Date, the Debtors
had approximately $529.6 million in outstanding principal amount of
secured indebtedness, consisting of a revolving credit facility and
a term loan facility.

The Debtors have engaged Paul, Weiss, Rifkind, Wharton & Garrison
LLP as general counsel, Carmody MacDonald P.C. as local counsel,
PJT Partners, LP as investment banker, Alvarez & Marsal North
America, LLC as restructuring advisors and Prime Clerk LLC as
claims, solicitation and balloting agent.

The Debtors had approximately 1,857 employees as of the Petition
Date.


NORTEL NETWORKS: Overseas Units Can't Escape US Software Suit
-------------------------------------------------------------
Stewart Bishop at Bankruptcy Law360 reported that a Delaware
bankruptcy judge on Feb. 1, 2016, refused to dismiss foreign units
of Nortel Networks Inc. from a software copyright infringement and
breach of contract dispute aimed at the defunct telecom's U.S. arm,
rebuffing arguments that the court lacks jurisdiction.

U.S. Bankruptcy Judge Kevin Gross said he has specific personal
jurisdiction over the bankruptcy estates of Nortel's European,
Middle Eastern and African units, known as the EMEA debtors, which
had argued that a determination of their liability must be made by
a U.K. court.

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates
commenced
a proceeding with the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act (Canada) seeking relief from
their creditors.  Ernst & Young was appointed to serve as monitor
and foreign representative of the Canadian Nortel Group.  That same
day, the Monitor sought recognition of the CCAA Proceedings in U.S.
Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter
15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New York,
serve as the U.S. Debtors' general bankruptcy counsel; Derek C.
Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in Wilmington,
serves as Delaware counsel.  The Chapter 11 Debtors' other
professionals are Lazard Freres & Co. LLC as financial advisors;
and Epiq Bankruptcy Solutions LLC as claims and notice agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of
Long-Term Disability Participants tapped Alvarez & Marsal
Healthcare Industry Group as financial advisor.  The Retiree
Committee is represented by McCarter & English LLP as Delaware
counsel, and Togut Segal & Segal serves as the Retiree Committee.
The Committee retained Alvarez & Marsal Healthcare Industry Group
as financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.  The question of
how to divide $7.3 billion raised in the international bankruptcy
of Nortel Networks Corp. was answered on May 12, 2015, by two
judges, one in the U.S. and one in Canada.

According to The Wall Street Journal, Justice Frank Newbould of the
Ontario Superior Court of Justice in Toronto and Judge Kevin Gross
of the U.S. Bankruptcy Court in Wilmington, Del., agreed on the
outcome: a modified pro rata split of the money.


OUTER HARBOR: Feb. 11 Meeting Set to Form Creditors' Panel
----------------------------------------------------------
Andy Vara, Acting United States Trustee of Region 3, will hold an
organizational meeting on Feb. 11, 2016, at 12:00 p.m. in the
bankruptcy case of Outer Harbor Terminal, LLC.

The meeting will be held at:
        
         The Sheraton Suites Wilmington Downtown
         422 Delaware Ave.
         Wilmington, DE 19801

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

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

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

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


PARAGON OFFSHORE: Lenders May Blame Parent If Oil Driller Fails
---------------------------------------------------------------
Tiffany Kary and David Wethe, writing for Bloomberg Brief -
Distress & Bankruptcy, reported that investors in Paragon Offshore
Plc, a fledgling oil rig contractor struggling to pay its lenders,
are weighing what some analysts say is a risky strategy: blame the
parent.

According to the report, should restructuring efforts fail, Paragon
could wind up in bankruptcy, giving creditors the chance to sue
Noble Corp., which spun Paragon off in 2014.  In its lawsuit,
creditors could argue that Noble's offspring was doomed to fail
from the outset, the report said.  Such so-called
fraudulent-conveyance suits are often used by creditors looking to
boost their recovery in a bankruptcy, the report noted.

"The distressed community feels confident about the fraudulent
conveyance overtones for this case," Kevin Starke, a managing
director at CRT Capital Group LLC, told Bloomberg in a phone
interview.

                     About Paragon Offshore

Paragon -- http://www.paragonoffshore.com/-- is a global provider

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


PEEK AREN'T YOU: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Peek, Aren't You Curious, Inc.
           dba Peek Kids
        425 Second Street, Ste.405
        San Francisco, CA 94107-1420

Case No.: 16-30146

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Hon. Hannah L. Blumenstiel

Debtor's Counsel: Kevin W. Coleman, Esq.
                  Gregory C. Nuti, Esq.
                  SCHANDER HARRISON SEGAL AND LEWIS LLP
                  650 California St. 19th Fl.
                  San Francisco, CA 94108
                  Tel: (415)364-6700
                  Email: kcoleman@schnader.com
                         gnuti@schnader.com

Debtor's          GORDON BROTHERS RETAIL PARTNERS Llc
Liquidation
Agent:

Debtor's          DJM REALTY SERVICES, LLC
Real Estate
Consultant:

Debtor's          DONLIN, RECANO & COMPANY, INC.
Claims and
Noticing Agent:

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Maria C. Canales, CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/canb16-30146.pdf


PHILLIPS INVESTMENTS: Wins Nod to Tap Real Cap as Expert Witness
----------------------------------------------------------------
U.S. Bankruptcy Judge Mary Grace Diehl has authorized Phillips
Investments, LLC, to employ Real Cap Services, LLC, as expert
witness.

Mr. Jeffrey Gladstein of Real Cap Services will serve as Expert
Witness for the purpose of testifying during the Confirmation
Hearing as an expert.

The Debtor desires to employ on the following fee basis, subject to
review by the Court: Mr. Gladstein’s hourly rate is $275.  Out of
pocket expenses are in addition to fees and may include any
charges, reimbursable travel and related expenses.  Given the
nature of Applicant’s proposed retention, the Debtor will
Applicant upon submission of invoices by Mr. Gladstein, subject to
availability of cash collateral and a final fee application.

Mr. Gladstein assures 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.

The firm can be reached at:

         REAL CAP SERVICES, LLC
         Jeffrey Gladstein
         23120 L'Ermitage Circle
         Boca Raton, FL 33433
         Phone: (561) 417-6193
         Cell:  (954) 610-5262
         E-mail: realcap@bellsouth.net

                    About Phillips Investments

Phillips Investments, LLC, a Georgia limited liability company that
was formed in 2001, filed a Chapter 11 bankruptcy petition (Bankr.
N.D. Ga. Case No. 14-61444) on June 11, 2014.  Ly Phillips, the
managing member, signed the petition.  Judge Mary Grace Diehl
presides over the case.  

As of the Petition Date, the Debtor's primary business was owning
and managing two shopping centers and related real estate located
in Gwinnett County, Georgia, generally known as Gwinnett Station
and Gwinnett Prado.  Gwinnett Station consists of approximately 9.7
acres of improved real property, including a building of
approximately 103,090 square feet, that was located at or about
2180 Pleasant Hill Road, Duluth, Georgia. Gwinnett Prado consists
of approximately 32 acres of improved real property, including
buildings totaling approximately 361,715 square feet, that was
located at or about 2300 Pleasant Hill Road, Duluth, Georgia.

The Debtor disclosed $29,558,424 in assets and $28,667,234 in
liabilities as of the Chapter 11 filing.

As of the Petition Date, the Debtor's largest creditor was East
West Bank.  Great Wall is the Debtor's most significant tenant,
paying monthly rent of approximately $75,000.

Scroggins & Williamson, P.C., serves as the Debtor's counsel.

                           *     *     *

The Debtor in December 2014 won approval from the Bankruptcy Court
in December to sell part of the property known as Gwinnett Station
to Pleasant Hill Real Estate LLC for $8.4 million.  A copy of the
sale order is available at:

     http://bankrupt.com/misc/Phillips_I_84_GS_Sale_Ord.pdf

The hearing to consider confirmation of the Debtor's Reorganization
Plan, originally scheduled for Jan. 25, 2016, has been rescheduled
to March 7 and 8, 2016, to give the parties time to negotiate.


PICO HOLDINGS: Activist Blog Values UCP Unit at $12 Per Share
-------------------------------------------------------------
By Geoffrey J. Bailey -- gjbaileypb@hotmail.com -- PICO Holdings,
Inc. (Nasdaq:PICO), based in La Jolla, Calif., is a diversified
holding company reporting recurring losses since 2008. PICO owns
57% of UCP, Inc. (NYSE:UCP), 100% of Vidler Water Company, Inc., a
securities portfolio and various interests in small businesses.
Central Square Management LLC and River Road Asset Management LLC
collectively own more than 14% of PICO and have agitated for
governance and financial changes. Sean Leder owns 1% of PICO shares
and seeks shareholder authorization to call a Special Meeting to
remove and replace five directors. Other activists at
http://ReformPICONow.com/have taken to the Internet to advance the
shareholder cause.

The bloggers at ReformPICONow published a post analyzing and
valuing UCP. The post notes that UCP suffers from significant
competitive disadvantages, namely low gross margins due to high
borrowing costs, and high expenses as a result of inefficiencies.
The blog relates that UCP earns uneconomic returns on equity and
invested capital, with no credible plan for improvement. Finally,
the blog highlights that UCP is disadvantaged due to lack of an
in-house mortgage operation.

The activist bloggers conclude that UCP is worth more to an
acquirer than as a going-concern, operating entity. Based on
replacement cost, they value UCP at $12 per share and demand that
PICO sell UCP.


PIERCE ELEVATOR: Voluntary Chapter 11 Case Summary
--------------------------------------------------
Debtor: Pierce Elevator, Inc.
        403 West Randall
        Randolph, NE 68771

Case No.: 16-80151

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       District of Nebraska (Omaha Office)

Judge: Hon. Thomas L. Saladino

Debtor's Counsel: Howard T. Duncan, Esq.
                  HOWARD T. DUNCAN, PC, LLO
                  6910 Pacific Street, Suite 103
                  Omaha, NE 68106
                  Tel: (402) 934-4221
                  Fax: (402) 391-0088
                  Email: ecf@hduncanlaw.com

Estimated Assets: $1 million to $10 million

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

The petition was signed by Brian Bargstadt, president.

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


PROMPT RESTORATION: Case Summary & 17 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Prompt Restoration, Inc.
        6675 Business Parkway Suite D
        Elkridge, MD 21075

Case No.: 16-11352

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       District of Maryland (Baltimore)

Judge: Hon. Nancy V. Alquist

Debtor's Counsel: George R. Roles, Esq.
                  RUSSACK ASSOCIATES LLC
                  100 Severn Avenue, Suite 101
                  Annapolis, MD 21403
                  Tel: 410-505-4150
                  Email: george@russacklaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by James Martin, president.

A list of the Debtor's 17 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mdb16-11352.pdf


PYKKONEN CAPITAL: Case Summary & 19 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Pykkonen Capital, LLC
           dba Echo Mountain Resort
           dba Front Range Ski Club
        6887 Timbers Drive
        Evergreen, CO 80439

Case No.: 16-10897

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       District of Colorado (Denver)

Judge: Hon. Joseph G. Rosania Jr.

Debtor's Counsel: Lee M. Kutner, Esq.
                  KUTNER BRINEN GARBER, P.C
                  1660 Lincoln St., Ste. 1850
                  Denver, CO 80264
                  Tel: 303-832-2400
                  Email: lmk@kutnerlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Nora Pykkonen, manager.

A list of the Debtor's 19 largest unsecured creditors is available
for free at http://bankrupt.com/misc/dcb16-10897.pdf


QUICKSILVER RESOURCES: Needs Until June 15 to File Plan
-------------------------------------------------------
Quicksilver Resources, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Delaware to further extend their exclusive
period to file a Chapter 11 plan through and including June 15,
2016, and the exclusive period to solicit acceptances of a Chapter
11 plan through and including Aug. 11, 2016.

This is the Debtors' third request for extension of the Exclusive
Periods.

According to Amanda R. Steele, Esq., at Richards, Layton & Finger,
P.A., in Wilmington, Delaware, the Debtors have made significant
progress toward concluding these Chapter 11 cases, which recently
culminated with the Court approving the sale of the Debtors' U.S.
assets to BlueStone Natural Resources II, LLC, for $245 million in
cash.  Ms. Steele states that this long-awaited case milestone,
while significant, still leaves more to be accomplished to conclude
these chapter 11 cases.

Specifically, additional time is needed for the Debtors to close
the Sale and formulate a chapter 11 plan to distribute the Sale
proceeds, Ms. Steele tells the Court.  While the precise timing of
a plan is unclear, it is unquestionably true that no plan can be
finalized prior to the end of the current Exclusive Filing Period.
Indeed, numerous aspects of the Official Committee of Unsecured
Creditors' Litigation have yet to be prosecuted and the issue of
potential diminution in value claims for the Debtors' prepetition
secured parties and the priority of those claims have yet to be
brought before this Court, Ms. Steele says.  Each of those issues
must be resolved to determine the appropriate distribution of Sale
proceeds among certain of the Debtors' creditor constituencies
under any chapter 11 plan, she adds.

Ms. Steele asserts that the Court's approval of the Sale further
crystalized the Debtors' path toward emerging from their chapter 11
cases -- close the Sale, distribute its proceeds, and exit from
bankruptcy.  While the Debtors and the Purchaser intend to close on
the Sale as quickly as possible (the outside date to close the
transaction is March 31, 2016), several critical steps remain
thereafter before the Debtors can exit chapter 11, Ms. Steele
says.

In view of the time needed to (i) satisfy closing conditions for,
and close the Sale to, the Purchaser; (ii) resolve the
creditor-distribution issues inherent to the Litigation; and (iii)
develop and confirm a chapter 11 plan to distribute the Sale
proceeds, the Debtors believe that extending the Exclusive Periods
as requested is reasonable, appropriate, and in the best interest
of these cases and their stakeholders, Ms. Steele asserts.

Granting the requested extensions will allow the Debtors to pursue
the Court-approved Sale Process to its logical conclusion by
affording time to close the Sale and to develop an appropriate
chapter 11 plan for distributing proceeds therefrom, Ms. Steele
further asserts.

The Debtors are also represented by Paul N. Heath, Esq., and Rachel
L. Biblo, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware; Charles R. Gibbs, Esq., Sarah Link Schultz, Esq., and
Travis A. McRoberts, Esq., at Akin Gump Strauss Hauer & Feld LLP,
in Dallas, Texas; and Ashleigh L. Blaylock, Esq., at Akin Gump
Strauss Hauer & Feld LLP, in Washington, D.C.

                  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.  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.

Quicksilver Resources Inc. and its U.S. subsidiaries on January
22,
2016, entered into an Asset Purchase Agreement with BlueStone
Natural Resources II, LLC pursuant to which the Buyer agreed to
purchase substantially all of the Sellers' U.S. oil and gas assets
for a cash purchase price of $245.0 million.

The consummation of the transactions contemplated by the Purchase
Agreement is subject to customary closing conditions, and such
transactions are expected to close on or before March 31, 2016.


RADIOSHACK CORP: Fends Off Class Action Claims
----------------------------------------------
Jacklyn Wille, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that RadioShack Corp. executives defeated class action
claims that they violated federal benefits law by continuing to
expose workers' retirement savings to declining company stock.

According to the report, on Jan. 25, Judge Reed C. O'Connor of the
U.S. District Court for the Northern District of Texas found that
the RadioShack workers failed to meet the stringent pleading
standards for challenging drops in employer stock under the
Employee Retirement Income Security Act.

Presciently or coincidentally, this ruling came on the same day
that the U.S. Supreme Court reaffirmed just how high those pleading
standards are when it ordered a federal appeals court to reconsider
its decision allowing a similar class action to proceed against
Amgen Inc., the report related.

Both rulings interpret the Supreme Court's 2014 decision in Fifth
Third Bancorp v. Dudenhoeffer, which struck down the
defendant-friendly presumption of prudence that frequently blocked
challenges to employer stock plans, while simultaneously
articulating new pleading requirements for workers bringing these
types of ERISA suits, the report pointed out.

According to Judge O'Connor, the complaint against RadioShack --
which, unlike the Amgen suit, relied on publicly available
information about the company's financial troubles -- failed to
satisfy Dudenhoeffer's requirement that allegations based on public
information about a company's stock price identify some "special
circumstances" that would cast doubt on the price set by the
market, the report related.

In particular, Judge O'Connor said that RadioShack's slide toward
bankruptcy in 2014 didn't qualify as a special circumstance under
Dudenhoeffer, the report added.

                 About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack is a retailer of
mobile technology products and services, as well as products
related to personal and home technology and power supply needs.
RadioShack's retail network includes more than 4,300
company-operated stores in the United States, 270 company-operated
stores in Mexico, and approximately 1,000 dealer and other outlets
worldwide.

RadioShack Corp. and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015,
disclosing
total assets of $1.2 billion, versus total debt of $1.3 billion.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul
M.
Green, Esq., at Jones Day serve as the Debtors' bankruptcy
counsel.
David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc. is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
turnaround advisor. Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real
estate
advisor.  Prime Clerk is the Debtors' claims and noticing agent.

The Official Committee of Unsecured Creditors tapped Quinn Emanuel
Urquhart & Sullivan, LLP and Cooley LLP as co-counsel, and
Houlihan
Lokey Capital, Inc., as financial advisor and investment banker.  

                           *     *     *

After an auction in March 2015, the Debtors sold most of the
assets
to General Wireless, Inc., an entity formed by Standard General,
L.P., for $150 million.  The Debtors also sold Mexican assets to
Office Depot de Mexico, S.A. de C.V., for $31.8 million plus the
assumption of debt.  Regal Forest Holding Co. Ltd. bought the
Debtors' intellectual property assets in Latin America for a
purchase price of $5,000,000.

In June 2015, the Debtors changed their name to RS Legacy
Corporation, et al., following the sale of the Company's brand
name
and customer data to General Wireless.

The bankruptcy judge on Oct. 2, 2015, issued an order confirming
the first amended joint plan of liquidation of the Debtors.  The
centerpiece of the Plan is the resolution of various disputes
among
the Debtors, the Creditors' Committee and the SCP Secured Parties.

The Plan was declared effective on Oct. 7, 2015.


RCS CAPITAL: Feb. 11 Meeting Set to Form Creditors' Panel
---------------------------------------------------------
Andy Vara, Acting United States Trustee of Region 3, will hold an
organizational meeting on Feb. 11, 2016, at 11:00 a.m. in the
bankruptcy case of RCS Capital Corporation, et al.

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

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

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

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

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


RELATIVITY MEDIA: Judge Confirms Bankruptcy-Exit Plan
-----------------------------------------------------
The Hon. Michael E. Wiles of the U.S. Bankruptcy Court for the
Southern District of New York has approved Relativity Media LLC's
plan of reorganization clearing the way for Relativity to emerge
from Chapter 11 protection.  

Judge Wiles entered his Findings of Fact, Conclusions of Law and
Order Confirming, Pursuant to Section 1129 of the Bankruptcy Code,
the Plan Proponents' Fourth Amended Plan of Reorganization, on Feb.
8, 2016.  

The Plan Proponents filed the Fourth Amended Plan on Monday,
following comments from the judge at last week's confirmation
hearings.

A copy of the Confirmation Order is available at
http://is.gd/5fTIWk

A copy of the Fourth Amended Plan is available at
http://is.gd/wZI1gd

According to Relativity, in confirming the Plan, Judge Wiles found
that the Plan as described satisfied the various requirements of
the U.S. Bankruptcy Code and said the Court will entertain an order
confirming the Plan, with required modifications, following the
hearings held Feb. 1 and 2.

Ahead of the Feb. 1 hearing, the Debtors and Ryan C. Kavanaugh, and
together with Joseph Nicholas, filed the Third Amended & Restated
Plan of Reorganization to, among other things, incorporate an
agreement with Manchester Securities Corp, et al.

In seeking confirmation of the Plan, the Debtors noted that the
Plan, as modified, now embodies comprehensive settlements not only
with the Cortland Lenders, but also with RKA Film Financing, LLC,
the Manchester Parties, Macquarie and others.  In other words, all
but one of the Debtors' secured lenders support the Plan and have
voted overwhelmingly to accept it.  The Plan is also supported by
the Creditors Committee, and has been by accepted by creditors
holding approximately 85% the unsecured debt (on a consolidated
basis).  

A copy of the Third Amended Plan is available at
http://is.gd/fuxLwz

                        Settlements Reached

The Debtors have engaged in substantive negotiations with their
largest stakeholders, and have reached significant settlements and
support for their reorganization efforts, and additional
negotiations are ongoing with the remaining objecting parties.

An important component of the Plan, as amended, is the agreement
that has been now finalized and filed with the Court for approval
whereby RKA Film Financing -- the Debtors' principal print and
advertising (P&A) lender on four films to be released this year
-- has agreed to vote in favor of the Plan and allow the Debtors to
subordinate its existing liens to the New P&A/Ultimates Facility.
This agreement facilitates the financing of the required P&A for
the release of these films.

Another significant and related means of implementation of the Plan
is an arrangement with Carat, the Debtors' media buyer, whereby
Carat will provide significant credit terms up to a specified
amount for media purchased through Carat related to advertising for
the Debtors' completed but yet-to-be-released films.  Such
financing will go a long way towards paving the Debtors' path to
emergence from chapter 11 by funding much of the media spend that
is necessary to realize upon the films' value.

                      Outstanding Objections

A number of Plan confirmation objections (or potential Objections)
have been addressed as set forth in stipulations that have been or
will be separately filed with the Court.  Aside from a settlement
with RKA, the Debtors have reached stipulations with LAMF LLC and
the Manchester parties.  Additional Objections have been resolved
through modifications to the Plan or by amendments to exhibits to
the Plan Supplement.  Finally, the Debtors have agreed with many of
the Objecting Parties to postpone resolution of their Objections
(which primarily relate to the determination of contract cure
amounts) until the Feb. 17, 2016 omnibus hearing.

Notable objections that remain unresolved as of Jan. 28 are those
by:

     (i) CIT Bank, as Ultimates Agent (the "Ultimates Agent");
    (ii) Unifi Completion Guaranty Insurance Solutions, Inc.;
   (iii) Colbeck Capital Management, LLC et al.;
    (iv) Netflix, Inc.;
     (v) VII Peaks Co-Optivist Income BDC II, Inc. et al.; and
    (vi) CIT Bank, as Production Loan Agent and Lender (the
         "Production Loan Agent").

The Debtors filed a memorandum addressing the Objections filed by
the Ultimates Agent, Netflix, and VII Peaks.  A copy of the
memorandum is available for free at:

    http://bankrupt.com/misc/Relativity_1472_Plan_Brief.pdf

The Debtors filed a separate memorandum addressing objections filed
by UniFi, Colbeck and the Production Loan Agent.  A copy of the
document is available at:

    http://bankrupt.com/misc/Relativity_1510_Plan_Brief_Supp.pdf

A copy of Ronald E. Hohauser's declaration in support of
confirmation of the Plan is available for free at:

    http://bankrupt.com/misc/Relativity_1509_Plan_Decla.pdf

A copy of the Updated Exhibit M to the Plan is available for free
at:

    http://bankrupt.com/misc/Relativity_1525_Plan_Rev_Exh_M.pdf

Colbeck Capital Management, LLC, CP IV SPV, LLC, and CB CA Lending,
LLC, Jason Coldne, and CB Agency Services' attorneys:

         Adam C. Harris, Esq.
         Parker J. Milender, Esq.
         SCHULTE ROTH & ZABEL
         Tel: 212-756-2000
         E-mail: Adam.Harris@srz.com
                 Parker.Milender@srz.com

VII Peaks Co-Optivist Income BDC II, Inc., VII Peaks Capital FBO
Marquette. and VII Peaks-R Holdings, Inc.'s attorneys:

         RABINOWITZ, LUBETKIN & TULLY, LLC
         Jeffrey A. Cooper, Esq.
         293 Eisenhower Parkway, Suite 100
         Livingston, NJ 07039
         Tel: (973) 597-9100

             - and -

         DEUTSCH, LEVY & ENGEL, CHARTERED
         Joel A. Stein, Esq.
         225 W Washington St # 1700
         Chicago, IL 60606
         Tel: (312) 346-1460
         E-mail: stein@dlec.com

Netflix, Inc.'s attorneys:

         Shane J. Moses, Esq.
         Scott H. McNutt, Esq.
         MCNUTT LAW GROUP LLP
         188 The Embarcadero, Suite 800
         San Francisco, CA  94105
         Tel: (415) 995-8475
         E-mail: smoses@ml-sf.com
                 smcNutt@ml-sf.com

Unifi Completion Guaranty Insurance Solutions, Inc.'s counsel:

         Jason Wallach
         GIPSON HOFFMAN & PANCIONE
         Tel: (310) 556-4660
         E-mail: jwallach@ghplaw.com

Counsel for CIT Bank, N.A.:

         Walter H. Curchack, Esq.
         Lance N. Jurich, Esq.
         Vadim J. Rubinstein, Esq.
         LOEB & LOEB LLP
         345 Park Avenue
         New York, NY 10154
         Tel: (212) 407-4000
         Fax: (212) 407-4990
Relativity Media's attorneys:

          Richard L. Wynne, Esq.
          Bennett L. Spiegel, Esq.
          Lori Sinanyan, Esq.
          JONES DAY
          222 East 41st Street
          New York, NY 10017
          Telephone: (212)326-3939
          Facsimile: (212)755-7306
          E-mail: rlwynne@jonesday.com
                 blspiegel@jonesday.com

                  - and -

          Craig A. Wolfe, Esq.
          Malani J. Cademartori, Esq.
          Blanka K. Wolfe, Esq.
          SHEPPARD MULLIN RICHTER & HAMPTON LLP
          30 Rockefeller Plaza
          New York, NY 10112
          Telephone: (212)653-8700
          Facsimile: (212)653-8701
          E-mail: cwolfe@sheppardmullin.com
                  mcademartori@sheppardmullin.com
                  bwolfe@sheppardmullin.com

                        About Relativity

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

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

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

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

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

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

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

                           *     *     *

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

After selling their TV business, the Debtors and CEO Ryan C.
Kavanaughfiled a proposed plan of reorganization that will allow
the Debtors to reorganize their non-TV business units with a
substantially de-levered balance sheet utilizing new equity
investments and new financing.  

Jim Cantelupe, of Summit Trail Advisors, LLC, assisted the Debtors
in raising up to $100 million of new equity to fund the Plan.


RELATIVITY MEDIA: Manchester Parties, 2 Others to Accept Plan
-------------------------------------------------------------
Relativity Fashion, LLC, and its affiliated debtors on Jan. 28,
2016, sought from the U.S. Bankruptcy Court an order pursuant to
Rule 3018 of the Federal Rules of Bankruptcy Procedure authorizing
certain of the Debtors' unsecured creditors to change their votes
on the Plan.  

The Debtors and those creditors have stipulated to changing the
vote on the Debtors' Plan, as amended, prior to, or at, the
confirmation hearing.

On Dec. 14, 2015 and Dec. 17, 2015, the Debtors and Ryan C.
Kavanaugh, and together with Joseph Nicholas, filed their proposed
Second Amended Plan and Disclosure Statement.  In response to the
Plan, the Debtors received votes from numerous creditors.

Three creditors originally voted to reject the Plan but, following
negotiations, later agreed to change their vote to either vote in
favor of the Plan or abstain from voting pursuant to certain
stipulations filed with the Court:

                      Original    Stipulation     Changed
   Creditor           Vote        at Docket No.   Vote
   --------           --------    -------------   -------
LAMF, LLC             Reject       1454           Accept
MICA Fund I, L.P.     Reject       1400           Abstain
Manchester Parties    Reject       1432           Accept

On Jan. 28, Jung W. Song, Managing Director at Donlin, Recano &
Company, Inc., the balloting agent, filed a ballot report
indicating that the Plan was accepted by holders of claims entitled
to vote to accept or reject the Plan.  A copy of the ballot report
is available for free at:

   http://bankrupt.com/misc/Relativity_1459_Ballot_Report.pdf

Mr. Song may be reached at:

     Jung W. Song, Esq.
     Managing Director, Vote & Distribution
     DONLIN, RECANO & COMPANY, INC.
     48 Wall Street
     New York, NY 10005
     Tel: 212-481-1411
     E-mail: JSong@DonlinRecano.com

                       The Stipulations

The Manchester Parties reached a settlement agreement with the
Official Committee of Unsecured Creditors wherein the parties
agreed that (i) the Manchester unsecured claim will be fixed and
allowed in the amount of $137,000,000, and (ii) Manchester waives
its right to distributions on the claim from the first $35 million
in distributions to creditors.  The Debtors supported the
settlement after negotiating certain modifications.  The Debtors,
the Creditor Parties, and the Committee also negotiated changes to
the Second Amended Plan, which changes reflect the terms of the
negotiated agreement by the parties and will be included in the
Third Amended Plan.  As part of the parties' agreement, the
Manchester Parties agreed to change their votes to accept the
Plan.

Another party, RKA Film Financing, LLC, which made certain
dedicated pre-release print and advertising loans to special
purpose entities that own or license a single film and that are
wholly-owned subsidiaries of Relativity Media, was granted an
extension of the deadline to submit ballots on the Chapter 11 Plan
to Jan. 26, 2016.  Pursuant to a stipulation, RKA agreed to vote in
favor of the Plan Proponent's Second Amended Plan of Reorganization
Pursuant to Chapter 11 of the Bankruptcy Code, provided that, among
other things, RKA will receive certain secured Replacement P&A
Notes on the terms set forth in the Chapter 11 Plan, and RKA will
not be a "releasing party" under the Plan.

MICA Fund's attorneys:

         GIPSON HOFFMAN & PANCIONE
         Jason Wallach, Esq.
         1901 Avenue of the Stars, Suite 1100
         Los Angeles, CA 90067
         Tel: (310) 556-4660
         Fax: (310) 557-8945
         E-mail: jwallach@ghplaw.com

                        About Relativity

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

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

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

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

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

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

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

                           *     *     *

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

After selling their TV business, the Debtors and CEO Ryan C.
Kavanaughfiled a proposed plan of reorganization that will allow
the Debtors to reorganize their non-TV business units with a
substantially de-levered balance sheet utilizing new equity
investments and new financing.  

Jim Cantelupe, of Summit Trail Advisors, LLC, assisted the Debtors
in raising up to $100 million of new equity to fund the Plan.


RELATIVITY MEDIA: Moses & Singer Submits Verified Statement
-----------------------------------------------------------
Moses & Singer LLP, pursuant to Rule 2019(a) of the Federal Rules
of Bankruptcy Procedure, submitted a verified statement as an
entity representing more than one creditor in the Chapter 11 cases
of Relativity Fashion, LLC, et al.

M&S has been engaged to represent multiple parties in interest in
connection with the chapter 11 cases:

         CARAT USA, Inc.
         150 EAST 42nd Street
         New York, NY 10017

         Mitchell Grossbach
         38 Hillside Avenue
         Montclair, NJ 07042

The Entities each hold a claim against and/or are party to a
pre-petition agreement with one or more of the Debtors.

The firm can be reached at:

         MOSES & SINGER LLP
         Alan E. Gamza
         Christopher R. Gresh
         The Chrysler Building
         405 Lexington Avenue
         New York, NY 10174
         Tel: (212) 554-7800
         Fax: (212) 554-7700

                        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, assisted the Debtors
in raising up to $100 million of new equity to fund the Plan.


RELATIVITY MEDIA: Panel's Settlement with Manchester Okayed
-----------------------------------------------------------
The Official Committee of Unsecured Creditors Relativity Fashion,
LLC, and its affiliated debtors on Feb. 1, 2016, received approval
of a settlement with Manchester Securities Corp., and other
creditors of the Debtors.

The Creditors Committee on Jan. 8, 2016, filed a motion seeking
approval of a settlement agreement with Manchester Securities
Corp., Manchester Library Company LLC, Heatherden Securities LLC,
Heatherden Securities Corp., Heatherden Holdings LLC, Beverly Blvd
2 Holdings LLC, Beverly Blvd 2 LLC, Elliott Management Corporation,
Elliott Associates, L.P., Elliott Capital Advisors, L.P., Elliott
International, L.P., Braxton Associates, Inc., and Elliott
International Capital Advisors Inc.

On Dec. 8, 2015, Manchester timely filed a proof of claim against
each of the Debtors for claims arising under a prepetition credit
facility.  Each Manchester Claim asserts at least $137,078,557 in a
liquidated, secured claim and an undetermined unliquidated,
contingent claim arising under the A&R Credit Facility.  The
obligations of the Debtors under the A&R Credit Facility are
secured by substantially all of the assets of the Debtors.

The Committee conducted an investigation of claims and potential
causes of actions against the Manchester Parties.  Among other
things, the Committee believes that:

     (i) the estate could assert a fraudulent conveyance claim
         against the Manchester Parties to recover the value of
         the Class A Interests that were transferred because
         Heatherden Sdecurities LLC received greater than
         reasonably equivalent value for its $1 payment at a time
         when the Debtors were insolvent on a balance sheet
         basis, and

    (ii) the Restated Manchester Credit Facility entered into on
         May 30, 2012, could be re-characterized as an equity
         instrument.

The Committee said that while it had a reasonable litigation
position in challenging the prepetition transactions involving
Manchester and other investment funds, it acknowledged that
pursuing litigation had an inherent level of significant risk,
uncertainty, and cost.  Pursuant to the settlement, the parties
agree that:

     (i) the Manchester unsecured claim will be fixed and allowed
         in the amount of $137,000,000,

    (ii) Manchester waives its right to distributions on the
         claim from the first $35 million in distributions to
         creditors, which will be increased to $70 million, if,
         among other things, Manchester objects to the Plan.

The Debtors and Ryan Kavanaugh, the co-proponent to the Debtors'
proposed Plan of Reorganization, objected to the Committee's
settlement motion.  The Debtors complained that, among other
things, the Creditor Parties remain free to oppose and/or reject
the Plan Proponents' Second Amended Plan of Reorganization.

After negotiations, the Plan Proponents, the Committee, and the
Creditor Parties agreed to the terms of the order approving the
Settlement.  At the behest of the parties, the Court approved the
Settlement and ordered that:

   * The Manchester Claim is fully and finally allowed as a
     general unsecured claim in the amount of $137,000,000
     against each Debtor listed on Schedule 1 to the Settlement
     Agreement; provided that despite allowance against multiple
     Debtors, the Manchester Claim is not entitled to more than
     payment in full; provided, further, that any recoveries on
     account of the Manchester Claim are conditioned as provided
     in Section III of the Settlement Agreement.

   * The Committee is authorized and directed to execute and
     grant the releases of the Creditor Parties provided for in
     the Settlement Agreement on behalf of each of the Debtors
     and their respective estates, which releases shall bind the
     rights of creditors to bring fraudulent conveyance and other
     avoidance actions.

   * To the fullest extent permissible by applicable law and
     subject to the applicable governing documents, for non-
     debtor subsidiaries and affiliates of the Debtors in which
     the Debtors, in the aggregate, directly or indirectly, hold:

     (1) more than 50% of the equity interests,

     (2) equity rights entitling the Debtors to appoint a
         controlling majority of the board of directors, board of
         managers, or similar persons or entities with ultimate
         authority over the subject entity, or

     (3) equity rights entitling the Debtors to control, directly
         or indirectly, mergers or sales of substantially all
         assets of the subject entity ((1) – (3), together, the
         "Controlled Non-Debtor Subsidiaries"),

     the Debtors are authorized to cause each Controlled Non-
     Debtor Subsidiary to authorize, execute, and deliver to the
     Creditor Parties a Release Agreement in the form attached to
     the Settlement Agreement.

   * The time period in paragraph 34 of the Amended and Restated
     Final Order Pursuant to Sections 105, 361, 362, 363, 364,
     and 507 of the Bankruptcy Code (I) Authorizing Debtors to
     Obtain Superpriority Secured Debtor-in-Possession Financing,
     (II) Authorizing Debtors to Use Cash Collateral, (III)
     Granting Adequate Protection to the Cortland Parties and
     Manchester Parties and (IV) Granting Related Relief, entered
     by the Court on Nov. 3, 2015, to bring challenge
     Manchester's claims is terminated.

   * In accordance with the Amended DIP Order, the Creditors
     Parties shall have an allowed unsecured administrative
     expense claim against the Debtors' estates, pursuant to
     Bankruptcy Code section 364(c), in the amount of $5,750,000
     on account of the professional fees and expenses of Ropes &
     Gray LLP, O'Melveny & Myers LLP, and Moelis & Company
     incurred by the Creditor Parties.  The Professional Fee
     Claim represents a bargained for compromise, following
     reasonableness review by the Debtors and the Committee, and
     shall not be subject to further review for reasonableness
     under the Amended DIP Order or otherwise, including, without
     limitation, review by any fee examiner that may be appointed
     in these chapter 11 cases. The Plan Proponents' Second
     Amended Plan of Reorganization will be amended by the Plan
     Proponents to provide that the Debtors will issue two joint
     and several unsecured notes to the Creditor Parties in
     respect of the Professional Fee Claim:

        (i) a note for $2,875,000 with a balloon maturity on
            August 17, 2016, and

       (ii) a note for $2,875,000 with a balloon maturity on
            February 17, 2017.

     The Fee Notes shall provide that the payee of the Fee Notes
     will receive payment of the costs of collection and
     enforcement (including reasonable attorneys' fees and
     expenses) in the event of any default on payment of the Fee
     Notes.

Counsel to the Creditor Parties:

         ROPES & GRAY LLP
         Keith H. Wofford, Esq.
         James A. Wright III, Esq.
         1211 Avenue of the Americas
         New York, NY 10036-8704
         Telephone: (212) 596-9000
         Facsimile: (212) 596-9090
         E-mail: keith.wofford@ropesgray.com
                 james.wright@ropesgray.com

                 - and -

         O'MELVENY & MYERS LLP
         Evan M. Jones, Esq.
         Daniel S. Shamah, Esq.
         400 South Hope Street
         Los Angeles, CA 90071
         Telephone: (213) 430-6236
         Facsimile: (213) 430-6407
         E-mail: ejones@omm.com
                 dshamah@omm.com

Attorneys for Ryan Kavanaugh:

         SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
         Van C. Durrer II, Esq.
         Annie Z. Li, Esq.
         300 South Grand Avenue, Suite 3400
         Los Angeles, CA 90071

             - and -

         Shana A. Elberg, Esq.
         Four Times Square
         New York, NY 10036

                        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: Touts Kevin Spacey Partnership in Ch. 11 Push
---------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Relativity
Media began its push on Feb. 1, 2016, in New York for court
approval of its plan to restructure about $1 billion in debt,
trumpeting a plan to have Kevin Spacey oversee the company's film
production business -- a plan the "House of Cards" star endorsed in
court via video -- as the key to turning around the troubled
studio.  In an unusual move, Relativity's attorneys kicked off the
company's Chapter 11 confirmation hearing by playing a video for
U.S. Bankruptcy Judge Michael Wiles of Spacey.

                         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.


RYCKMAN CREEK: Feb. 12 Meeting Set to Form Creditors' Panel
-----------------------------------------------------------
Andy Vara, Acting United States Trustee of Region 3, will hold an
organizational meeting on Feb. 12, 2016, at 12:00 p.m. in the
bankruptcy case of Ryckman Creek Resources, LLC, et al.

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

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

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

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

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



SABINE OIL: Creditors Gird for Fight Over Merger
------------------------------------------------
Tom Corrigan, writing for Dow Jones' Daily Bankruptcy Review,
reported that Sabine Oil & Gas Corp.'s creditors are preparing to
challenge the company's plan to restructure some $3 billion in debt
at a potentially lengthy trial examining its ill-fated merger with
Forest Oil Corp.

According to the report, the trial, set to go before U.S.
Bankruptcy Court Judge Shelley Chapman in Manhattan on Feb. 8, is
the culmination of months of controversy over the merger and is
likely to determine the future direction of Sabine's bankruptcy
proceeding.  According to the court's calendar, the judge has set
aside four days for the hearing, the report related.

As previously reported by The Troubled Company Reporter, citing
Jonathan Randles at Bankruptcy Law360, Sabine Oil submitted a
Chapter 11 plan on Jan. 26, 2016, in New York federal court and
asked the court for permission to begin soliciting creditors on the
gas and oil producer's plan to restructure $2.9 billion in debt.

Sabine submitted its plan and a disclosure statement that's
intended to give the Debtor's financial stakeholders a clear idea
of how the company intends to restructure itself.  The company
filed for bankruptcy in July, blaming its significant debt on a
dramatic plunge in oil prices.

                  About Sabine Oil & Gas Corporation

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

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

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

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


SAMSON RESOURCES: Committee Seeks to Hire Holland for Land Services
-------------------------------------------------------------------
The Official Committee of Unsecured Creditors of Samson Resources
Corporation seeks court approval to retain Holland Acquisitions,
Inc. d/b/a Holland Services, as its land services company, nunc pro
tunc to Nov. 16, 2015.

Holland and its professionals have over 30 years of significant
experience through all phases of the production cycle, in virtually
every basin in the United States.  Holland has considerable
experience investigating oil and gas-related real property records
and has performed such work for bankruptcy trustees, as well as
secured and unsecured creditors, in bankruptcy cases of all sizes.
For instance, Holland was recently retained by the Official
Committee of Unsecured Creditors of Quicksilver Resources, Inc. and
by the Chapter 11 Trustee in the chapter 11 case of Buckingham Oil
Interests, Inc.

The Committee has selected Holland as its land services company
based upon, among other things, (i) the Committee’s need to
retain a skilled land services company to perform certain tasks
with respect to the Debtors’ assets and complex restructuring
activities and (ii) Holland’s extensive experience and excellent
reputation with regard to oil and gas assets and its specialized
knowledge in and out of the bankruptcy context.

Holland will review and analyze the Debtors’ oil and gas reserves
and related real property interests, determine which of such
interests are described on mortgages filed against the Debtors,
advise the Committee, and provide such other services as requested
by the Committee.

The Master Services Agreement provides that as compensation for
services provided in the Chapter 11 Cases, Holland will be paid in
accordance with the compensation terms and rate sheets:

     Project Manager/Crew Chief $450.00 per day
     Senior Landman/Senior Abstractor $400.00 per day
     Landman/Abstractor $350.00 per day
     GIS Operator $55.00 per hour
     GIS Tech $45.00 per hour
     Land/Lease Analyst $350.00 per day
     Land/Lease Tech $300.00 per day

Holland also will seek reimbursement of expenses incurred by
Holland personnel in connection with services performed under the
Master Services Agreement, including, but not limited to, a fixed
rate per diem, a mobile phone charge, a mileage allowance,
administrative/supervision charges, and additional third party
charges.

Holland 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.

Holland Services can be reached at:

         HOLLAND SERVICES
         309 West 7th Street, Suite 200
         Fort Worth, TX 76102
         Toll Free: 800.585.3755
         Tel: 817.698.9393
         Fax: 817.698.9396
         E-mail: info@hollandservices.com

                        About Samson Resources

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

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

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

Kirkland & Ellis LLP is the Debtors' general counsel.  Klehr
Harrison Harvey Branzburg LLP is the Debtors' local counsel.
Alvarez & Marsal LLC acts as the Debtors' financial advisor.
Blackstone Advisory Partners L.P. serves as the Debtors' Investment
banker.  Garden City Group, LLC serves as claims and noticing agent
to the Debtors.

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


SAMSON RESOURCES: Seeks to Retain Quinn as Conflicts Counsel
------------------------------------------------------------
Samson Resources Corporation and its affiliated debtors seek
authorization to employ Quinn Emanuel Urquhart & Sullivan, LLP, as
special litigation and conflicts counsel, nunc pro tunc to Dec. 16,
2015.

The Debtors propose to tap Quinn Emanuel to represent them as
special litigation and conflicts counsel for matters in which
Kirkland & Ellis, LLP, the Debtors' primary bankruptcy counsel, has
an actual or potential conflict of interest.  One such matter has
already arisen, involving potential disputes or other issues
regarding the Debtors and certain of the Hedge Banks and the First
Lien Agent.

Compensation will be payable to Quinn Emanuel on an hourly basis at
the firm’s standard hourly rates, plus reimbursement of actual,
necessary expenses and other charges incurred by the Firm.
Currently, hourly rates of partners of Quinn Emanuel range from
$840 to $1,175.  Other attorneys' hourly rates, including counsel
positions, range from $490 to $1,010.  The hourly rates charged for
Quinn Emanuel's law clerks and legal assistants range from $300 to
$365.

The following professionals presently are expected to have primary
responsibility for providing services to the Debtors:

     Susheel Kirpalani (Partner, $1,045 per hour)
     James C. Tecce (Partner, $935 per hour)
     Kate Scherling (Associate, $735 per hour)
     William Pugh (Associate, $570 per hour).

James C. Teece, a partner of Quinn Emanuel Urquhart & Sullivan,
LLP, assures 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.

The firm can be reached at:

         Susheel  Kirpalani
         QUINN EMANUEL URQUHART & SULLIVAN, LLP
         Tel: (212) 849 7000
         Fax: (212) 849 7100
         E-mail: susheelkirpalani@quinnemanuel.com

                      About Samson Resources

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

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

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

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

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

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Samson Resources Corp. and its affiliated debtors to
serve on the official committee of unsecured creditors.  The
Committee has tapped White & Case LLP as counsel and Farnan LLP as
local counsel.


SAN BERNARDINO, CA: Bondholders Resume Talks
--------------------------------------------
Steven Church, writing for Bloomberg News, reported that San
Bernardino bondholders are back at the bargaining table to hash out
a reorganization plan for the bankrupt city, perhaps spurred by a
deadly terrorist shooting in December.

According to the report, the bondholders, who are owed about $50
million, were the last major creditor group opposing the city's
plan to impose cuts on them and city employees while it also tried
to reform a city charter that contributes to high wages for police
and firefighters.

The report related that the Dec. 2 shooting in which 14 people were
killed and the national outpouring of sympathy it engendered might
have prompted the bondholders to renew talks, city attorney Gary
Saenz said.  The bondholders' attorney called soon after the
shooting to ask that mediation resume, Mr. Saenz told Bloomberg.

"Prior to that we had reached an impasse and we were pretty far
apart," Mr. Saenz further told Bloomberg.  The two sides met
earlier in January and are now much closer to a deal, according to
Mr. Saenz.

                         About San Bernardino

San Bernardino, California, filed an emergency petition for
municipal bankruptcy under Chapter 9 of the U.S. Bankruptcy Code
(Bankr. C.D. Cal. Case No. 12-28006) on Aug. 1, 2012.  San
Bernardino, a city of about 210,000 residents roughly 65 miles
(104
km) east of Los Angeles, estimated assets and debt of more than $1
billion in the bare-bones bankruptcy petition.

The city council voted on July 10, 2012, to file for bankruptcy.
The move lets San Bernardino bypass state-required mediation with
creditors and proceed directly to U.S. Bankruptcy Court.

The city is represented that Paul R. Glassman, Esq., at Stradling
Yocca Carlson & Rauth.

San Bernardino joined two other California cities in bankruptcy:
Stockton, an agricultural center of 292,000 east of San Francisco,
and Mammoth Lakes, a mountain resort town of 8,200 south of
Yosemite National Park.

The City was granted Chapter 9 protection on Aug. 28, 2013.

The City filed on May 14, 2015, a Plan to exit court protection.
The Plan proposes to some bondholders a penny on the dollar but
maintains pension benefits for retired city workers.  The Plan
proposes to make full payments into the pension fund run by
California Public Employees' Retirement System.

                          *     *     *

The Troubled Company Reporter, on Oct. 28, 2015, reported that the
hearing on the disclosure statement with respect to the Plan for
the Adjustment of Debts of the City of San Bernardino, California,
has been continued to Dec. 23, 2015, at 1:30 p.m.


SAPPHIRE DEVELOPMENT: Ch. 11 a "Tactical Litigation Maneuver"
-------------------------------------------------------------
Diane Davis, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that the Chapter 11 bankruptcy filing of a business that
conducted no business, had no employees, failed to pay taxes on its
property, and only received income from related entities was filed
in bad faith, and the bankruptcy court properly dismissed it, a
district court in Connecticut held Feb. 1.

According to the report, affirming the judgment of the bankruptcy
court, Judge Michael P. Shea of the U.S. District Court for the
District of Connecticut concluded that the "dismissal for cause"
was supported by the evidence that debtor Sapphire Development,
LLC's bankruptcy filing was a "tactical litigation maneuver" that
wasn't supported by the purpose of bankruptcy law.

The purpose of Chapter 11 reorganization, the court said, is "to
assist financially distressed busines enterprises by providing them
with breathing space in which to return to a viable state," the
report related.  

Whether a finding of both subjective bad faith and objective
futility is needed for a court to dismiss a bankruptcy case for
cause under Bankruptcy Code Section 1112(b) isn't clear in the
Second Circuit, the court said, citing In re C-TC 9th Ave. P'ship,
113 F.3d 1304 (2d Cir. 1997), the report further related.
Nevertheless, the district court found that Second Circuit
precedents don't require both subjective bad faith and objective
futility, the report added.


SEAPORT AIRLINES: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: SeaPort Airlines, Inc.
           fdba Wings of Alaska
           fka Alaska Juneau Aeronautics, Inc.
        7505 NE Airport Way
        Portland, OR 97218

Case No.: 16-30406

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       District of Oregon

Judge: Hon. Randall L. Dunn

Debtor's Counsel: Douglas R Ricks, Esq.
                  VANDEN BOS & CHAPMAN, LLP
                  319 SW Washington St #520
                  Portland, OR 97204
                  Tel: (503) 241-4869
                  Email: vbcservicedougr@yahoo.com

                    - and -

                  Robert J Vanden Bos, Esq.
                  VANDEN BOS & CHAPMAN, LLP
                  319 SW Washington #520
                  Portland, OR 97204
                  Tel: (503) 241-4869
                  Email: vbcservice@yahoo.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Timothy F. Sieber, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/orb16-30406.pdf


SFX ENTERTAINMENT: Feb. 12 Meeting Set to Form Creditors' Panel
---------------------------------------------------------------
Andy Vara, Acting United States Trustee of Region 3, will hold an
organizational meeting on Feb. 12, 2016, at 10:00 a.m. in the
bankruptcy case of SFX Entertainment, Inc., et al.

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

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

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

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

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


SPORTS AUTHORITY: Said to Take Steps Toward Chapter 11
------------------------------------------------------
Jodi Xu Klein and Lauren Coleman-Lochner, writing for Bloomberg
Brief - Distress & Bankruptcy, reported that Sports Authority Inc.
is preparing to file for bankruptcy as it faces a debt payment due
in 10 days, according to people with knowledge of the matter.

The retailer, once the biggest sporting-goods chain in the U.S., is
in talks with lenders including TPG Capital Management LP on a deal
to reorganize in Chapter 11 bankruptcy proceedings, the Bloomberg
report said, citing the people, who asked not to be named because
the negotiations are private.  It's also mapping out a plan to
close as many as 200 of its more than 450 stores under the
bankruptcy plan, the report further cited the people as saying.

Sports Authority is negotiating with creditors as the clock ticks
on a $20 million interest payment that it skipped in January on its
$343 million of subordinated debt, the Bloomberg report related.
It's been talking to holders of those bonds about accepting a loss
in exchange for other securities, said the people, the report
further related.  The company would be able to stave off a
bankruptcy filing if it reaches a deal with the bondholders, the
Bloomberg report said.

The subordinated bondholders are being advised by Houlihan Lokey
Inc.  The company's advisers are Rothschild & Co., FTI Consulting
Inc. and Gibson Dunn & Crutcher LLP.

                       *     *     *

As reported by the Troubled Company Reporter on Jan. 22, 2016,
Moody's Investors Service downgraded The Sports Authority Inc.'s
Corporate Family Rating and $300 million secured term loan due
2017
rating to Caa3 from Caa1 due to the company's announcement that it
elected to not make the approximately $21 million subordinated
notes interest payment that was due Jan. 15, 2016.  The ratings
outlook is negative.


SPYGLASS RESOURCES: Oil Assets for Sale; Bids Due March 10
----------------------------------------------------------
Ernst & Young Inc., the court-appointed receiver and manager of
Spyglass Resources Corp. and its affiliates, is putting Spyglass'
oil assets on the sale block.

The assets had combined 2015 average production of approximately
9,603 boe/d, and include 345,708 net underdeveloped acres of land
in Alberta and British Columbia, and associated infrastructure.

The assets of Spyglass are being offered for sale in these
packages:

   1. Dixonville - 1,312 boe/d and 12,542 net underdeveloped
      acres

   2. Southern Alberta Oil (SAB Oil) - 2,801 boe/d and 49,228 net
      underdeveloped acres

   3. Matziwin - 464 boe/d and 59,641 net underdeveloped acres

   4. British Columbia (BC) - 740 boe/d and 49,215

   5. Peace River Arch (PRA) - 843 boe/d and 10,600 net
      underdeveloped acres

   6. Drumheller - 309 boe/d and 22,216 net underdeveloped acres

   7. Southern Alberta Gas (SAB Gas) - 414 boe/d and 8,324 net
      underdeveloped acres

   8. Provost - 527 boe/d and 42,237 net underdeveloped acres

   9. Pembina - 173 boe/d and 6,053 net underdeveloped acres

  10. Northern Alberta (NAB) - 1,933 boe/d and 85,562 net
      underdeveloped acres

  11. Royalty Interests - 87 boe/d and royalty interests in
      159,256 acres of land

  12. Proprietary Seismic - proprietary and partner interests in
      3,917 sq. km. of 3D seismic and 23,801 km of 2D seismic

Bid deadline is 5:00 p.m. (Mountain Time) on March 10, 2016.
Parties interested in acquiring all of any of the asset packages of
Spyglass are invited to contact the receiver by phone or email; or
go to the receiver's website for further information and detail of
the Spyglass sale process at
http://www.ey.com/ca/spyglassresources

The receiver can be reached at:

      Spyglass Resources Corp.
      1000, 440 2nd Avenue SW
      Calgary, Alberta T2P 5E9
      Tel: +1-403-930-3504
      Email: spyglass.saleprocess@ca.ey.com

Based in Calgary, Canada, Spyglass Resources Corp. (TSX: SGL,
OTCQX: SGLRF) -- http://www.spyglassresources.com-- is a
intermediate oil & gas company.  The company's asset base includes
stable, low decline oil and natural gas production in Alberta and
British Columbia.


SWIFT ENERGY: Creditors Have Until March 4, 2016 to File Claims
---------------------------------------------------------------
A federal judge approved the deadline proposed by Swift Energy Co.
for filing pre-bankruptcy claims.

The order, issued by U.S. Bankruptcy Judge Mary Walrath, gives
creditors holding claims that arose on or before the company's
bankruptcy filing until March 4, 2016, to file a proof of their
claims.

Meanwhile, all governmental units that have pre-bankruptcy claims
must submit a proof of their claims on or before June 28, 2016.

This deadline is called a "bar date" because it means that
creditors who come forward after that date may be "barred" from
ever filing a claim against the company.   

                       About Swift Energy

Headquartered in Houston, Texas, Swift Energy Company is an
independent energy company engaged in the exploration, development,
production and acquisition of oil and natural gas properties.  Its
primary assets and operations are focused in the  Eagle Ford trend
of South Texas and the onshore and inland waters of Louisiana.

Swift Energy Company and eight of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-12669 to
15-12677) on Dec. 31, 2015.  The petitions were signed by Alton D.
Heckaman, Jr., the executive vice president and CFO.  Judge Mary
F. Walrath has been assigned the cases.

The Debtors disclosed total assets of $1.02 billion and total debt
of $1.34 billion as of Sept. 30, 2015.

The Debtors engaged Jones Day as general counsel; Richards, Layton
& Finger, P.A., as local counsel; Lazard Freres & Co, LLC as
investment banker; Alvarez & Marsal North America LLC as financial
advisor; and Kurtzman Carson Consultants LLC as claims and noticing
agent.

The Office of the U.S. Trustee appointed three creditors to the
Debtors' official committee of unsecured creditors.  Reed Smith LLP
represents the committee.



SYCAMORE INVESTMENT: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Sycamore Investment Group-Olympiad, LLC
           dba Magnolia Terrace
        15500 New Barn Road, Suite 104
        Miami Lakes, FL 33014

Case No.: 16-11720

Chapter 11 Petition Date: February 5, 2016

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Hon. Jay A. Cristol

Debtor's Counsel: Paul J. Battista, Esq.
                  GENOVESE JOBLOVE & BATTISTA, P.A.
                  100 SE 2 St #4400
                  Miami, FL 33131
                  Tel: (305) 349-2300
                  Fax: (305) 349-2310
                  Email: pbattista@gjb-law.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Peter S. Pessoa, authorized officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb16-11720.pdf


TAYLOR-WHARTON INT'L: Court Approves Joint Administration of Cases
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
the joint administration of the Chapter 11 case of Taylor-Wharton
International LLC with Taylor-Wharton Cryogenics LLC.

The cases are consolidated for procedural purposes only and will be
administered under Case No. 15-12075 (Taylor-Wharton International
LLC).

                       About Taylor-Wharton

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead Case No. 15-12075) on Oct. 7, 2015.  The petition was signed
by Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct
or indirect parent of several foreign non-debtor subsidiaries
which have manufacturing operations in China, Malaysia, Slovakia,
and warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Argus Management Corporation as interim management
services provider, Stifel, Nicolaus & Company, Incorporated and
Miller Buckfire & Company LLC as investment banker and Logan &
Company, Inc., as noticing and claims agent.

Taylor-Wharton International LLC disclosed total assets of
$14,463,438 and total liabilities of $47,978,923 as of the Chapter
11 filing.  O'Neal Steel Inc. is listed as the largest
unsecured creditor holding a trade claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.


TERVITA CORP: Considers Asset Sales, Restructuring
--------------------------------------------------
Rebecca Penty, Scott Deveau and Michael Bellusci, writing for
Bloomberg Brief - Distress & Bankruptcy, reported that Tervita
Corp. is considering options including asset sales and debt
restructuring as it struggles with high leverage amid a crude
market slump.

According to the report, the Calgary-based oil-field services
company is working with advisers on the process, Cam Hantiuk, a
company spokesman, said in an e-mail.

"Like a great many companies in the energy space we would always
consider divestiture of non-core assets just as we did in 2015,
when we divested the majority of our U.S. operations," Mr. Hantiuk
told Bloomberg.  "Some of those considerations relate to debt
structure."

Tervita, a closely held company focused on environmental and energy
waste management services for the oil
and natural gas industry, is carrying C$3.45 billion ($2.45
billion) of debt 19 months into a crude price rout, according to
data compiled by Bloomberg.

                  *     *     *

The Troubled Company Reporter, on Nov. 27, 2015, reported that
Moody's Investors Service downgraded Tervita Corporation's
Corporate Family Rating to Caa2 from Caa1, Probability of Default
Rating to Caa2-PD from Caa1-PD, senior secured term loan rating to
Caa1 from B3, senior secured notes rating to Caa1 from B3, and the
senior unsecured notes rating to Caa3 from Caa2.  The first lien
senior secured revolver rating was affirmed at B1.  The outlook was
changed to negative from stable.  Moody's withdrew the SGL rating.

"The downgrade reflects the expected decline in Tervita's EBITDA
that will lead to leverage of 15x in 2016," said Paresh Chari,
Moody's Analyst.  "Tervita's capital structure is untenable in
this
weak commodity price environment."


TRANSCOASTAL CORP: Plan Declared Effective Jan. 28; Bar Dates Set
-----------------------------------------------------------------
TransCoastal Corporation and Corterra Operating LLC filed a notice
with the U.S. Bankruptcy Court for the Northern District of Texas
to inform that their first amended joint prepackage plan of
reorganization became effective on Jan. 28, 2016.  The Debtors'
plan was confirmed by the Court on Jan. 12, 2016.

Transcoastal and Corterra also notified parties-in-interest of
these deadlines related to the processing of post-petition claims:

   -- Deadline to file applications or claims for payment of
      administrative claims (other than professional fee claims)
      is March 13, 2016 or 45 days after the effective date.

   -- Deadline to file claims arising from the rejection of an
      executory contract is Feb. 29, 2016 or first business day
      that is 30 days after the effective date.

   -- Deadline to file applications for professional fee claims
      is March 13, 2016 or (45 days after the effective date).

   -- Deadline for the reorganized Debtors to file claims
      objections is Sept. 3, 2016 or 180 days after the proof of
      claim bar date.

   -- Deadline to file post-petition tax claims is March 13, 2016
      or the later of (i) 45 days after the effective date, or
      (ii) 90 days following the filing with the applicable
      governmental unit of tax return for taxes for tax year or
      period.

Dallas, Texas-based TransCoastal Corporation, et al., filed for
Chapter 11 protection (Bankr. N.D. Tex. Case No. 15-34956) on  Dec.
8, 2015.  The petitions were signed by Stuart Hagler, chief
executive officer.  The Hon. Harlin DeWayne Hale presides over the
cases.  

The Debtors tapped Stephen M. Pezanosky, Esq., at Haynes And Boone,
LLP, as counsel, and Blackhill Partners, LLC, as their financial
advisor.

TransCoastal estimated assets at $1 million to $10 million and
debts at $10 million to $50 million.


VARIANT HOLDING: H14 Debtors Can Use Cash Collateral in Interim
---------------------------------------------------------------
Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware authorized debtors 100400 Sandpiper
Apartments, LLC, et al. ("H14 Portfolio Debtors") to use cash
collateral in the interim.

The H14 Portfolio Debtors obtained a loan from Centennial Bank
("Lender") in the original maximum principal amount of $65 million
("Prepetition Debt").  As of Petition Date, the H14 Portfolio
Debtors are jointly and severally liable for payment of the
Prepetition Debt in an amount not less than $55,271,546, plus
certain unpaid fees, interests, expenses, disbursements,
indemnification, obligations and charges or claims of whatever
nature.  Fees, costs and expenses reimbursable under prepetition
loan documents in the aggregate amount of $116,886, consisting of
$104,562 in unpaid legal fees, $12,000 in unpaid advisor fees, and
$324 in unreimbursed costs, remain unpaid.

Judge Shannon authorized the H14 Portfolio Debtors to use cash
collateral in which the Lender has an interest, all deposits
subject to set-off rights in favor of the Lender, and all cash
arising from the collection or other conversion to cash of the
Prepetition Collateral, including from the collection of rents and
accounts receivable, and to pay allowable amounts including
interest at the 7% non-default rate of interest, all fees, costs,
expenses, and other charges due or coming due under the Prepetition
Loan Documents or in connection with the Prepetition Debt, and all
reasonable costs and expenses incurred by the Lender in connection
with (a) the negotiation, preparation and submission of the Interim
Order and any other document related thereto, and (b) the
representation of the Lender in the Chapter 11 Cases.

The Termination Date will occur upon the earliest to occur of the
following: (i) the H14 Portfolio Debtors' failure, within 35 days
after the Petition Date, to obtain entry of the Final Order; (ii)
the occurrence of an Event of Default; (iii) the closing date of
the sale of substantially all of the assets of the H14 Portfolio
Debtors; (iv) the occurrence of the effective date of a chapter 11
plan for any of the H14 Portfolio Debtors; and (v) Dec. 1, 2016.
On the Termination Date, (i) the H14 Portfolio Debtors'
authorization to use Cash Collateral for any purpose will
automatically terminate; (ii) the H14 Portfolio Debtors will be
prohibited from using Cash Collateral for any purpose other than
payment of the Lender's claim, or payment of any outstanding
Adequate Protection Payments; and (iii) the Lender shall be
entitled to set off any cash in the Lender's possession or control
and apply such cash to the Lender's claim. Judge Shannon adds that
the H14 Portfolio Debtors will be permitted to use Cash Collateral
after the Termination Date to pay accrued but unpaid expenses, but
solely to the extent such expenses were incurred prior to the
Termination Date in accordance with the Approved Budget.

The H14 Portfolio Debtors said they have an immediate and critical
need to use Cash Collateral, in order to minimize disruption to and
avoid the diminution in value of their properties and businesses.
He further acknowledged that the entry of the Interim Order will
enhance the possibility of maximizing the value of the H14
Portfolio Debtors' businesses.  Without the use of cash collateral,
the H14 Portfolio Debtors will not have sufficient liquidity to
continue their operations.

The Lender is entitled to receive adequate protection to the extent
of any diminution in value of its interests in the Prepetittion
Collateral, including the Cash Collateral, computed on an aggregate
basis, from and after the Petition date, resulting from the use of
Cash Collateral, and the use, sale, lease, consumption or
disposition of Prepetition Collateral, among others.

The final hearing on the H14 Portfolio Debtors' Motion is scheduled
on Feb. 11, 2016 at 10:00 a.m.

                  About Variant Holding Company

Tucson, Arizona-based Variant Holding Company, LLC, and its direct
and indirect subsidiaries are a commercial real estate business
with direct and indirect ownership interests in 23 real property
interests in various states.

Variant Holding commenced bankruptcy proceedings under Chapter 11
of the U.S. Bankruptcy Code in Delaware (Case No. 14-12021) on
Aug.
28, 2014.  Variant Holding estimated $100 million to $500 million
in assets and less than $100 million in debt.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.

Variant's subsidiaries filed voluntary Chapter 11 petitions on
Jan.
12, 2016.  Variant's property-owning subsidiaries, which own 23
apartment complexes, and which are debtors are: (1) Broadmoor
Apartments, LLC, Chesapeake Apartments, LLC, Holly Ridge
Apartments, LLC, Holly Tree Apartments, LLC, Preston Valley
Apartments, LLC, Ravenwood Hills Apartments, LLC, River Road
Terrace Apartments, LLC, and Sandridge Apartments, LLC
(collectively, the "FX3 Portfolio Debtors"); (2) 10400 Sandpiper
Apartments, LLC, 10301 Vista Apartments, LLC, Pines of Westbury,
Ltd., 201 Ashton Oaks Apartments, LLC, 13875 Cranbook Forest
Apartments, LLC, 5900 Crystal Springs Apartments, LLC, 7107 Las
Palmas Apartments, LLC, 11911 Park Texas Apartments, LLC, 1201
Oaks
of Brittany Apartments LLC, 3504 Mesa Ridge Apartments, LLC, 667
Maxey Village Apartments, LLC, 17103 Pine Forest Apartments, LLC,
7600 Royal Oaks Apartments, LLC, and 4101 Pointe Apartments, LLC
(collectively, the "H14 Portfolio Debtors"); and (3) The Oaks of
Stonecrest Apartments, LLC ("Oaks at Stonecrest")(the FX3
Portfolio
Debtors, the H14 Portfolio Debtors and Oaks at Stonecrest are
collectively referred as the "Property-Owning Debtors").

The FX3 Portfolio Debtors own 8 apartment projects in Texas,
Maryland, Virginia, and South Carolina, which properties total
1,850 housing units.  The H14 Portfolio Debtors own 14 apartment
projects in Texas, which consist of a total of 5,050 housing
units.
Oaks at Stonecrest owns a single apartment project in Lithonia,
Georgia, which has 280 housing units.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP, as
counsel and UpShot Services LLC as claims and noticing agent.


VARIANT HOLDING: Seeks Approval of $190-Mil. Sale to Beach Point
----------------------------------------------------------------
Variant Holding Company, LLC and its affiliated debtors ask the
U.S. Bankruptcy Court for the District of Delaware to authorize the
sale of their properties free and clear of liens, claims,
encumbrances and other interests to BPC VHI, L.P., Beach Point
Total Return Master Fund, L.P., and Beach Point Distressed Master
Fund, L.P. ("Beach Point Funds").

The properties which the Debtors seek to sell a portfolio of 23
properties ("Full Portfolio") which consists of real property,
improvements, and related personal property, located in various
states.

The Debtors relate that under the Purchase Agreement, the Beach
Point Funds will acquire the Acquired Assets for consideration
totaling $190,000,000 ("Purchase Price"), which consideration shall
be provided in the form of the Beach Point Funds (i) credit bidding
the full amount of the "Tranche B Obligations" under the Amended
and Restated Debtor-in-Possession Loan, Security and Guaranty
Agreement, dated Jan. 14, 2016, which, under the DIP Agreement, are
to be secured by the Properties and may be over
$41 million at the time of closing of the Sale, (ii) the assumption
or payment in full of all allowed claims asserted against the
Property-Owning Debtors, and (iii) the Beach Point Funds' waiver of
any right to payment or distribution of proceeds of the Purchase
Price that would otherwise be payable to the Beach Point Funds
pursuant to the Settlement Agreement, dated Oct. 17, 2014.  The
Debtors further relate that the Beach Point Funds were owed
$94,863,172 under the Settlement Agreement.

The Debtors tell the Court that they concurrently filed a Motion to
approve Bid Procedures and an auction and sale process to solicit
higher and better bids for the Properties.  They further tell the
Court that they have entered into the Purchase Agreement with the
Buyer in order to bring certainty to the sale process.  The Debtors
assert that the offer from Beach Point Funds is the highest and
best offer currently available.  The Debtors, however, intend to
continue to market the Properties over the next 60 days pursuant to
the Bid Procedures Motion, and they will be looking for proposals
for the Properties as either the Full Portfolio or for one or more
Properties, subject to the terms of the Bid Procedures.

The Debtors relate that as set forth in their Bid Procedures,
potential bidders may submit bids as a cash amount or credit bid
either (a) for the Full Portfolio for a purchase price equal to not
less than the Stalking Horse Purchase Price plus the Termination
Payment plus the Expense Reimbursement plus $250,000, or (b) for
one or more of the Properties for a purchase price equal to not
less than the price set forth in Exhibit A to the Bid Procedures
for each Property being bid on; provided that any bid, including
any credit bid, must provide for the payment of the Termination
Payment and Expense Reimbursement, or any amount thereof allocated
to any Property being bid, in cash.

The Debtors tell the Court that they will seek approval of the Sale
or Sales at a hearing following the auction for the Properties
established by the Bid Procedures.  The Debtors further tell the
Court that at the Sale Hearing, the they will seek the entry of a
report and recommendation from the Court, whereby the Court will
recommend that the United States District Court for the District of
Delaware enter the Sale Order authorizing and approving the
transactions contemplated by one or more of the Sales, or approval
of the Sale of the Acquired Assets to the Buyer pursuant to the
Purchase Agreement.  The Debtors add that unless they are able to
sell the Properties without the need for a District Court order or
not through a chapter 11 plan, the Sale Hearing will be held
contemporaneously with a hearing for confirmation of a chapter 11
plan to be proposed by the Debtors.

The Debtors submit that the Sale is in the best interests of their
estates and maximizes recoveries for the Debtors' Properties.

Variant Holding Company and its affiliated debtors are represented
by:

          Richard M. Pachulski, Esq.
          Maxim B. Litvak, Esq.
          Peter J. Keane, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          919 North Market Street, 17th Floor
          P.O. Box 8705
          Wilmington, DE 19899-8705 (Courier 19801)
          Telephone: (302)652-4100
          Facsimile: (302)652-4400
          E-mail: rpachulski@pszjlaw.com
                  mlitvak@pszjlaw.com
                  pkeane@pszjlaw.com

                   About Variant Holding Company

Tucson, Arizona-based Variant Holding Company, LLC, and its direct
and indirect subsidiaries are a commercial real estate business
with direct and indirect ownership interests in 23 real property
interests in various states.

Variant Holding commenced bankruptcy proceedings under Chapter 11
of the U.S. Bankruptcy Code in Delaware (Case No. 14-12021) on Aug.
28, 2014.  Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.

Variant's subsidiaries filed voluntary Chapter 11 petitions on Jan.
12, 2016.  Variant's property-owning subsidiaries, which own 23
apartment complexes, and which are debtors are: (1) Broadmoor
Apartments, LLC, Chesapeake Apartments, LLC, Holly Ridge
Apartments, LLC, Holly Tree Apartments, LLC, Preston Valley
Apartments, LLC, Ravenwood Hills Apartments, LLC, River Road
Terrace Apartments, LLC, and Sandridge Apartments, LLC
(collectively, the "FX3 Portfolio Debtors"); (2) 10400 Sandpiper
Apartments, LLC, 10301 Vista Apartments, LLC, Pines of Westbury,
Ltd., 201 Ashton Oaks Apartments, LLC, 13875 Cranbook Forest
Apartments, LLC, 5900 Crystal Springs Apartments, LLC, 7107 Las
Palmas Apartments, LLC, 11911 Park Texas Apartments, LLC, 1201
Oaks
of Brittany Apartments LLC, 3504 Mesa Ridge Apartments, LLC, 667
Maxey Village Apartments, LLC, 17103 Pine Forest Apartments, LLC,
7600 Royal Oaks Apartments, LLC, and 4101 Pointe Apartments, LLC
(collectively, the "H14 Portfolio Debtors"); and (3) The Oaks of
Stonecrest Apartments, LLC ("Oaks at Stonecrest")(the FX3 Portfolio
Debtors, the H14 Portfolio Debtors and Oaks at Stonecrest are
collectively referred as the "Property-Owning Debtors").

The FX3 Portfolio Debtors own 8 apartment projects in Texas,
Maryland, Virginia, and South Carolina, which properties total
1,850 housing units.  The H14 Portfolio Debtors own 14 apartment
projects in Texas, which consist of a total of 5,050 housing units.
Oaks at Stonecrest owns a single apartment project in Lithonia,
Georgia, which has 280 housing units.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP, as
counsel and UpShot Services LLC as claims and noticing agent.


VAUGHAN COMPANY: Court Issues Amended Opinion Denying Confirmation
------------------------------------------------------------------
Judge Robert H. Jacobvitz of the United States Bankruptcy Court for
the District of New Mexico issued an Amended Memorandum Opinion
dated December 21, 2015, which is available at http://is.gd/xCwJT6
from Leagle.com, denying confirmation of the Chapter 11 plan
proposed by Judith Wagner, Chapter 11 Trustee of the estate of
Debto; Vaughan Company, Realtors.

The Debtor defrauded hundreds of innocent investors through its
promissory note program which paid earlier investors with funds
contributed by later investors. Through the plan, the Trustee seeks
to effectuate a "rising tide" distribution method because Trustee
believes that type of distribution method is the most equitable way
to distribute limited funds among investors defrauded by the
scheme. The Unsecured Creditors' Committee objected to
confirmation, asserting that the "rising tide" distribution method
fails to comply with the confirmation requirements under the
Bankruptcy Code.

The amended memorandum opinion corrects typographical errors in a
chart setting forth the number of votes cast in Class 4 and the
number of holders of Class 4 claims voting to accept the Plan.  The
memorandum opinion dated Dec. 14, 2015, has not otherwise been
amended.

The case is In re: THE VAUGHAN COMPANY, REALTORS, Debtor, No.
11-10-10759 JA (Bankr. D.N.M.).

                 About The Vaughan Company Realtors

The Vaughan Company Realtors filed for Chapter 11 protection
(Bankr. N.M. Case No. 10-10759) on Feb. 22, 2010.  George D.
Giddens, Jr., Esq., represents the Debtor in its restructuring
efforts.  The Company estimated both assets and debts of between
$1
million and $10 million.  Judith A. Wagner was appointed as
Chapter 11 Trustee.

Mr. Vaughan filed a separate Chapter 11 petition (Bankr. D. N.M.
Case No. 10-10763) on Feb. 22, 2010.  The case was converted to a
chapter 7 proceeding on May 20, 2010.  Yvette Gonzales is the duly
appointed trustee of the Chapter 7 estate.


VERSO CORP: 341 Meeting of Creditors Set for March 7
----------------------------------------------------
A meeting of creditors of Verso Corp. and its affiliates is set to
be held on March 7, 2016, at 2:00 p.m., according to a filing with
the U.S. Bankruptcy Court for the District of Delaware.

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

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

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

                     About Verso Corporation

Verso Corporation and 26 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10163 to
16-10189, respectively) on Jan. 26, 2016.  The petitions were
signed by David Paterson as president and chief executive officer.

Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  The Debtors employ approximately
5,200 personnel.

The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.

The Debtors have engaged O'Melveny & Myers LLP as general counsel,

Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,

Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing agent.


VERSO CORP: U.S. Trustee Forms 7-Member Creditors' Committee
------------------------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, appointed seven
creditors of Verso Corp. and its affiliates to serve on the
official committee of unsecured creditors.

The unsecured creditors are:

     (1) Wilmington Trust, N.A.
         Attn: Steven M. Cimalore
         Rodney Square North
         1100 N. Market St.
         Wilmington, DE 19890
         Phone: 302-636-6058
         Fax: 302-636-4145

     (2) Delaware Trust Co.
         Attn: Sandra E. Horwitz
         2711 Centerville Rd.
         Wilmington, DE 19808
         Phone: 800-927-9801 x 62412
         Fax: 302-636-8666

     (3) Pension Benefit Guaranty Corp.
         Attn: Michael Strollo
         1200 K St., NW, Washington DC 20005
         Phone: 202-326-4070 x 4907
         Fax: 202-326-4112

     (4) United Steelworkers
         Attn: David R. Jury
         60 Boulevard of the Allies Room 807
         Pittsburgh, PA 15222
         Phone: 412-562-2545
         Fax: 412-562-2574

     (5) General Electric International Inc.
         Attn: Glenn Reisman
         12 Old Hollow Rd., Ste. B
         Trumbull, CT 06611
         Phone: 203-944-0401

     (6) Valmet, Inc.
         Attn: Tony Auffant
         2425 Commerce Ave., Ste. 100
         Duluth, GA 30096
         Phone: 770-263-1572
         Fax: 770-441-9652

     (7) Andritz Inc.
         Attn: Carl Luhrmann
         One Namic Pl.
         Glens Falls, NY 12801
         Phone: 518-745-2752
         Fax: 518-793-6555

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

                     About Verso Corporation

Verso Corporation and 26 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10163 to
16-10189, respectively) on Jan. 26, 2016.  The petitions were
signed by David Paterson as president and chief executive officer.

Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  The Debtors employ approximately
5,200 personnel.

The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.

The Debtors have engaged O'Melveny & Myers LLP as general counsel,

Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,

Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing agent.


VISION SOLUTIONS: S&P Lowers CCR to 'B-', on CreditWatch Negative
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Irvine, Calif.-based Vision Solutions Inc. to 'B-'
from 'B+' and placed the rating on CreditWatch with negative
implications.

In addition, S&P lowered the issue-level rating to 'B' from 'BB-'
on the company's $240 million first-lien senior secured term loan
due July 2016.  The recovery rating remains '2', which indicates
S&P's expectation of substantial (70% to 90%; upper half of the
range) recovery in the event of payment default.  S&P also lowered
the issue-level rating to 'CCC' from 'B-' on the company's $90
million second-lien senior secured term loan due July 2017. The
recovery rating remains '6', which indicates S&P's expectation of
negligible (0% to 10%) recovery in the event of payment default.
S&P also placed all issue-level ratings on CreditWatch with
negative implications.

"The rating action reflects our view that Vision Solutions faces
significant refinancing risk related to its near-term debt
maturities in July 2016 and July 2017 totaling $270 million," said
Standard & Poor's credit analyst Tuan Duong.

"In addition, Vision Solutions' operating performance has fallen
short of our expectations because of continued declines in license
and maintenance revenues in fiscal 2015.  During the year total
revenues declined by approximately 4%, as Windows-related revenues
decreased by 11% and IBM Power Server-related revenues were flat.
We estimate that approximately two-thirds and one-third of fiscal
2015 revenues were derived from IBM Power- and Windows-related
revenues, respectively.  The company's software revenues streams
are closely linked to the upgrade activity of IBM Power Servers,
which has ramped new software sales slower than we expected since
the new product release in late 2014.  In addition, extended server
refreshes and longer sales cycles have resulted in greater revenue
volatility for Vision Solutions, in our view.  We are also
concerned that the company's revenue declines have yet to abate,
despite low- to mid-single-digit growth in the availability
software and data protection and recovery software industries,
according to IDC.  Although we expect Vision Solutions' license
sales related to IBM Power Systems server upgrades to occur in
2016, those streams along with recurring maintenance (about
two-thirds of total revenues) will not sufficiently offset the
challenges in Windows license and maintenance revenues, which have
been hampered by server virtualization, and public cloud migration.
Given the challenging operating environment, we expect Vision
Solutions' weak performance to persist over the next 12 months,"
S&P said.

The CreditWatch action reflects S&P's view that it could lower the
ratings within the next 90 days as a result of a specific event.
Because of market conditions and underperformance, S&P believes the
Vision Solutions faces significant refinancing risk related to its
upcoming debt maturities.  The resolution of the rating will depend
on the company's ability to address its near-term obligations
before maturity.  Potential scenarios include a global refinancing,
an amendment and extension, or a restructuring event.


WALTER ENERGY: Asset Sale Garners Conditional Court Approval
------------------------------------------------------------
Judge Tamara Mitchell of the U.S. Bankruptcy Court for the Northern
District of Alabama conditionally approved the sale of Walter
Energy, Inc.'s non-core assets, according to various news sources.

Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that Judge Mitchell authorized the sale of the Debtors'
remaining assets in a deal that offloads some $38 million in debt
from the company's books but calls for proof of the buyer's
financial wherewithal.

Dawn McCarty, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that Walter Energy received conditional bankruptcy court
approval for the sale of its remaining U.S. assets to Seminole Coal
Resources LLC, ERP Compliant Coke LLC and ERP Environmental Fund
Inc.

According to Bloomberg, Judge Tamara Mitchell requested
documentation from the purchaser proving they
have financial ability to close the transaction.  Judge Mitchell
said once the information is received and deemed consistent with
the court record, the conditional approval will become a final, the
Bloomberg report related.

The purchaser is buying assets in West Virginia, including Gauley
Eagle and Maple properties, the Bloomberg report said.  In Alabama
it is buying Walter Coke and Taft properties, the report further
related.

Seminole/ERP will pay $1 and assume liabilities related to about
$38 million worth of assets, the report added.

                      About Walter Energy

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

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

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

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

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

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

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


WASHINGTON TRANSIT: Hires Jones Day as Adviser
----------------------------------------------
Brian Chappatta, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that the Washington Metropolitan Area Transit
Authority, which runs the public transportation system around the
U.S. capital, has hired the law firm of former Detroit Emergency
Manager Kevyn Orr as an adviser.

According to the report, Mr. Orr, a partner at Jones Day in
Washington, which will serve as a part-time strategic adviser to
Metro Chief Executive Officer Paul Wiedefeld, Sherri Ly, a
spokeswoman for the agency known as Metro, said in an e-mail.  The
agency awarded the law firm a contract for up to $1.7 million to
complement reviews by McKinsey & Co. and Ernst & Young, she said,
the report related.

The report noted that Metro doesn't fit the typical profile of
localities that Mr. Orr works with: it has a AA- rank from S&P, the
fourth-highest.  Metro has about $256 million of fixed-rate
municipal bonds outstanding, according to data compiled by
Bloomberg.  The Post quoted an anonymous agency official saying one
of the goals of bringing in Mr. Orr was to have discussions with
bondholders about easing the agency's debt load, the Bloomberg
report said.


WATTENBERG OIL: Creditors Want Interim, Permanent Trustee
---------------------------------------------------------
Donald Keith Mooney, et al. ("Petitioning Creditors") and Bill
Nachatilo, et. al. ("Joining Creditors") responded to debtor
Wattenberg Oil & Gas Investment Group, LLC's objection to their
motion asking the U.S. Bankruptcy Court for the District of Nevada
to appoint an interim and permanent Chapter 11 Trustee.

On behalf of the Creditors, Kevin A. Darby, Esq., at Darby Law
Practice, Ltd., in Reno, Nevada, tells the Court that the Debtor's
claim that the Code does not specifically allow for the appointment
of an interim trustee in an involuntary Chapter 11 case is
incorrect.  Mr. Darby contends that a plain reading of 11 U.S.C.
Section 1104(a) establishes that, at any time after the
commencement of a Chapter 11 case, a party-in-interest can seek the
appointment of a trustee.  Mr. Darby further contends that pursuant
to 11 U.S.C. Section 303, an involuntary Chapter 11 case is
commenced by the filing of an involuntary petition.

Mr. Darby asserts that the Debtor has offered no admissible
evidence in support of its opposition and that the Debtor has
failed to offer even a single declaration.  Mr. Darby further
asserts that instead, the Debtor makes an improper attempt to get
evidence in front of the Court by attaching various documents to
its Opposition.  Mr. Darby relates that such documents are not
admissible as evidence under either the Federal Rules of Evidence
or the Local Rules of practice in the Court. He further relates
that the Debtor failed to authenticate any of the documents
attached to the Opposition and that the only imaginable way for the
Debtor to get those documents into evidence would be to
authenticate them through a declaration.  Mr. Darby contends that
absent such declaration, all exhibits to the Opposition cannot be
admitted as evidence and should be stricken from the record in the
case.

Mr. Darby tells the Court that in order to preserve the property of
the estate, and to prevent further loss, it is necessary that an
interim Chapter 11 trustee be appointed during the gap period
between the filing of the involuntary chapter 11 case, and the
entry of an order for relief.  Mr. Darby further tells the Court
that such trustee's interim appointment should further become
permanent upon entry of an order for relief.

Donald Keith Mooney, as Trustee of the Arkansas Urology, PA PSP &
401K, et. al., are represented by:

          Kevin A. Darby, Esq.
          Tricia M. Darby, Esq.
          DARBY LAW PRACTICE, LTD.
          4777 Caughlin Parkway
          Reno, NV 89519
          Telephone: (775)322-1237
          Facsimile: (775)996-7290
          E-mail: kevin@darbylawpractice.com

                    About Wattenburg Oil & Gas

On Dec. 14, 2015, an involuntary Chapter 11 bankruptcy petition
(Case No. 15-51635, Bankr. Nevada) was filed against Wattenberg Oil
& Gas Investment Group, LLC by petitioning creditors Donald Keith
Mooney, as trustee of the Arkansas Urology; PA PSP & 401k; Gerard
Geosciences, Inc.; Gerald Family LLC; Leo & Melinda Gerard and John
E. Atkins.  The Petitioning Creditors are joined by Bill Nachatilo,
Mike Jessen, Matt Jessen, WR Bob Atkins, and Mark Thurman.

The Petitioning Creditors and Joining Creditors claim to have lent
over $4.4 million to Wattenberg.

The Petitioning Creditors are represented by Kevin A. Darby, Esq.,
of Darby Law Practice, Ltd., in Reno, Nevada.

Wattenberg is primarily a holding company, with its most
significant asset being 100% of the membership interest in Elite
Energy Engineering, LLC. Located in Carson City, Nevada, EEE is an
energy management and manufacturing company that specializes in
cogeneration.

The Debtor has tapped Stephen R. Harris, Esq. of Harris Law
Practice, LLC, as counsel.


WORLD IMPORTS: Suppliers' Claims Not Entitled to Admin. Priority
----------------------------------------------------------------
In a Memorandum dated January 19, 2016, which is available at
http://is.gd/TuzNUdfrom Leagle.com, Chief Judge Petrese B. Tucker
of the United States District Court for the Eastern District of
Pennsylvania affirmed the judgment of the Bankruptcy Court that
Fujian Zhangzhou Foreign Trade Co, Ltd. and Haining Wansheng Sofa
Co., Ltd.'s claims were not entitled to administrative expense
priority status.

According to Judge Tucker, Appellee World Imports, Ltd. did not
receive the goods in question within 20 days of its bankruptcy
filing, precluding the claims from administrative expense.  The
goods at issue in the Haining claim were shipped from Shanghai and
received by the Appellee on May 26, 2013, and the goods at issue in
the Fujian claim were shipped from Xiamen and received by the
Appellee on May 17, May 31, and June 7, 2013, Judge Tucker pointed
out.  These dates all occurred more than 20 days prior to the
Appellee's bankruptcy filing on June 3, 2013, therefore the
Bankruptcy Court properly concluded that the Appellants' claims do
not warrant an administrative priority, Judge Tucker held.

The adversary proceeding is FUJIAN ZHANGZHOU FOREIGN TRADE CO.,
LTD., and, HAINING WANSHENG SOFA CO., LTD., Appellants, v. WORLD
IMPORTS, LTD., Appellee, Civil Action No. 14-4920 (E.D. Pa.).

The bankruptcy case is IN RE: WORLD IMPORTS, LTD., Debtor,
Bankruptcy No. 13-15929 (E.D. Pa.).

HAINING WANSHENG SOFA CO., LTD., Appellant, is represented by KIRK
BURKLEY, BERNSTEIN & BURKLEY, PC.

FUJIAN ZHANGZHOU FOREIGN TRADE CO., LTD., Appellant, is represented
by KIRK BURKLEY, BERNSTEIN & BURKLEY, PC.

WORLD IMPORTS, LTD., Debtor-in-Possess, is represented by JOHN E.
KASKEY,  Esq. -- jkaskey@braverlaw.com -- BRAVERMAN KASKEY PC.

                      About World Imports

World Imports, Ltd., filed a Chapter 11 petition (Bankr. E.D. Pa.
Case No. 13-15929) on July 3, 2013, in Philadelphia.  Debtor-
affiliates World Imports South, LLC (Bankr. E.D. Pa. Case No.
13-15933), 11000 LLC (Bankr. E.D. Pa. Case No. 13-15934, and World
Imports Chicago, LLC (Bankr. E.D. Pa. Case No. 13-15935) filed
separate petitions for Chapter 11 relief.  The cases are jointly
administered under Case No. 13-15929.  John E. Kaskey, Esq., at
Braverman Kaskey, P.C., in Philadelphia, serves as counsel to the
Debtors.  World Imports, Ltd., estimated assets and debts of $10
million to $50 million.  World Imports South, LLC, estimated
assets
of $1 million to $10 million.

Roberta A. DeAngelis, United States Trustee for Region 3,
appointed a 3-member Committee of Unsecured Creditors.  Fox
Rothschild LLP as counsel.


YAMANA GOLD: S&P Alters Outlook to Negative on Lower Metal Prices
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it revised its outlook on
Toronto-based Yamana Gold Inc. to negative from stable.

At the same time, Standard & Poor's affirmed its 'BB+' long-term
corporate credit and senior unsecured debt ratings on Yamana.  The
'3' recovery rating on the debt, which corresponds with what S&P
considers meaningful (50%-70%, at the high end of the range),
recovery, is unchanged.

"The outlook revision primarily reflects the increased risk that
Yamana will not generate sufficient improvement in its cash flow
generation or balance sheet required to strengthen its core credit
ratios and maintain its intermediate financial risk profile," said
Standard & Poor's credit analyst Jarrett Bilous.

S&P now estimates the company will generate an adjusted
debt-to-EBITDA ratio of about 3x and funds from operations
(FFO)-to-debt close to 20% in 2016--weaker than S&P's previous
expectations and in line with its downside rating triggers.  S&P
attributes this primarily to the downward revision to its gold and
copper price assumptions for the year, and modest increase to our
cash cost estimates.  S&P would expect to lower its rating on
Yamana by one notch if, in its view, it becomes more likely that
the company will not generate sustained improvement in its core
credit measures over the next 12 months.

Gold, silver, and copper prices have steadily declined over much of
the past year and recently reached multi-year lows.  In S&P's view,
prices for these commodities are expected to remain subdued over
the next few years and constrain the company's revenue growth based
mainly on S&P's expectation for relatively stable gold output from
Yamana.  In addition, S&P now assumes generally stable cash costs
of production rather than material improvement this year that, in
S&P's view, primarily reflects lower byproduct copper and silver
revenues netted from operating costs.  S&P cannot rule out
improvement in the company's earnings and cash flow to an extent
that preserves its financial risk profile, which could notably
result from further weakening in the Canadian dollar and South
American currencies (assuming no corresponding deterioration in
metals prices), higher than expected byproduct revenues, and
further efficiency gains.  However, S&P believes the company's
financial risk profile is now highly sensitive to a relatively
modest decline in gold margins.

Based on S&P's revised earnings estimates and relatively stable
capital expenditures, it now expects Yamana to generate free
operating cash flow (as defined by Standard & Poor's) at about
break-even levels over the next two years.  In addition, S&P's
base-case scenario does not include asset sales or other
cash-generating initiatives (although we acknowledge this remains a
possibility).  As such, S&P estimates Yamana's net debt position
will remain relatively stable over the next two years.

The negative outlook reflects the increased risk that Yamana will
not generate sufficient improvement in its cash flow generation or
balance sheet over the next 12 months that S&P estimates is
required to maintain an intermediate financial risk profile.  The
outlook revision primarily reflects the reduction to S&P's gold and
copper price assumptions for the year, higher cash cost estimates
for the company, and a corresponding decline in estimated free
operating cash flow available for debt repayment.

S&P could lower the ratings on Yamana if S&P believes the company
will generate sustained adjusted debt-to-EBITDA that exceeds 3x or
if it sustains FFO-to-debt near 20% over the next 12 months.  In
this scenario, S&P would expect gold prices to average about
US$1,100 per oz or lower without a corresponding improvement in our
estimate of the Yamana's cash cost position

S&P could revise the outlook to stable if it expects the company
will generate sustained adjusted debt-to-EBITDA below 3x and if it
sustains FFO-to-debt approaching the 30% area, while maintaining at
least a fair business risk profile.  In this scenario, S&P would
expect higher average gold prices, lower-than-expected cash costs,
or cash inflows that lead to material improvement in net debt
levels.



ZOHAR CDO 2003-1: Lynn Tilton Steps Down from $2.5-Bil. CLO Funds
-----------------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that Lynn Tilton said on Feb. 5 that her Patriarch
Partners LLC is stepping down from its role as collateral manager
at the investment funds that feed liquidity to her portfolio of
troubled companies.

According to the report, the move comes amid a bruising legal fight
with bond insurer MBIA Insurance Corp. over Ms. Tilton's attempt to
force one of the funds, Zohar-I into an involuntary bankruptcy
proceeding.  It signals a major change in direction for Ms.
Tilton's $2.5 billion distressed debt empire that, until this
point, included the investment funds that backed loans to
Patriarch's portfolio businesses, the businesses themselves and Ms.
Tilton's management operation, the report pointed out.

As previously reported by The Troubled Company Reporter, on Jan.
11, 2016, citing Tiffany Kary and Phil Milford, writing for
Bloomberg Brief - Distress & Bankruptcy, the investment vehicle
created by self-styled turnaround queen Lynn Tilton will get a full
federal court hearing on a bankruptcy petition that could affect
$800 million in debt insured by MBIA Inc. and disrupt the market in
structured investment products.

U.S. Bankruptcy Judge Robert Drain in White Plains, New York, said
he wants to hold an evidentiary hearing over the petition, filed by
Tilton's Patriarch Partners LLC.  The petition would force the
vehicle, Zohar I, into bankruptcy.

Judge Drain said he wants to determine if a reorganization plan
for
Zohar, made up of loans to distressed companies, would serve a
valid legal purpose or become "a pig in a poke," the Bloomberg
report related.  "Trillions are at stake," with "industrywide
implications," Rick Antonoff, a lawyer for Zohar, told the judge
in
arguing against the petition, the Bloomberg report further
related.

                      About Zohar CDO 2003-1

Patriarch Partners XV, LLC filed involuntary Chapter 11 bankruptcy
petitions against Zohar CDO 2003-1, Corp., Zohar CDO 2003-1,
Limited and Zohar CDO 2003-1, LLC (Bankr. S.D.N.Y. Case Nos.
15-23681 to 15-23682) on Nov. 22, 2015.

Patriarch's restructuring counsel is Skadden, Arps, Slate, Meagher
& Flom LLP and its financial advisor is Moelis & Co.


[*] The Deal Unveils Results of Q4 2015 Bankruptcy League Tables
----------------------------------------------------------------
The Deal, a business unit of TheStreet, Inc., on Feb. 5 announced
the results of its quarterly rankings of the top firms and
professionals involved in active bankruptcy cases for the fourth
quarter of 2015.  Collected data captures only active bankruptcy
work for ongoing U.S. and Canadian cases.

"Bankruptcy and restructuring advisers make their livings
rearranging assets or selling them, but in 2015, some firms they
work for underwent their own overhauls," said Alexis Acosta from
The Deal.  "The maneuvers have increased because industries began
to experience trouble.  Bankruptcy filings in the energy and mining
sectors increased as commodity prices fell.  Industry experts
believe that more problems in these sectors may present themselves
in 2016."

League Table highlights:

Akin Gump Strauss Hauer & Feld LLP remained in the top spot for
bankruptcy law firms by volume, with $1,037.9 billion in
liabilities.  Vedder Price PC followed, with $989.4 billion in
liabilities.  Dentons ranked third, with $929.5 billion in
liabilities.  Duane Morris LLP followed in fourth with $925.1
billion in liabilities and Latham & Watkins LLP ranked fifth with
$924.6 billion in liabilities.

Among lawyers by volume, Douglas Rosner (Goulston & Storrs PC)
ranked first, followed by Daniel Golden (Akin Gump Strauss Hauer &
Feld), Peter Gilhuly (Latham & Watkins LLP), Richard Hahn
(Debevoise & Plimpton LLP) and Scott Davidson (King & Spalding
LLP).

For investment banks by volume, Miller Buckfire & Co. LLC moved
into the top spot, with $726.1 billion in liabilities.  PJT
Partners Inc. followed in second, with $91.7 billion in
liabilities.  Jefferies LLC and Solic Capital Advisors LLC tied for
third, with $83.8 billion each in liabilities.  Lazard Ltd. ranked
fourth, with $79.0 billion in liabilities.

Stuart Erickson (Miller Buckfire & Co. LLC) moved to the top spot
for investment bankers by volume in the fourth quarter of 2015,
with $653.2 billion in liabilities.  Neil Luria (Solic Capital
Advisors LLC) ranked second, while Steven Zelin (PJT Partners Inc.)
ranked third.  Richard Klein (Jefferies LLC) ranked fourth,
followed by Leon Szlezinger (Jefferies LLC).

The full suite of rankings is available at The Deal, and the full
report is also available online at:

          http://www.thedeal.com/pdf/BLTQ42015.pdf

            About The Deal's Bankruptcy League Tables

The Deal's Bankruptcy League Tables are the industry's only league
tables focused solely on active bankruptcy cases.  The Bankruptcy
League Tables by volume involve only active U.S. bankruptcy cases
of debtors with liabilities of $10 million or more.  The rankings
are based on the aggregation of those liability values.  The table
reflects the number of active cases fitting that criteria and may
not characterize the total number of active cases.  Firms and
professionals only get one credit for each active case, not each
active assignment.  The Bankruptcy League Tables by number involve
U.S. and Canadian bankruptcy cases irrespective of debtor asset
size.  Professionals receive credit for multiple assignments on one
case.

                        About The Deal

The Deal -- http://www.thedeal.com-- is a media and technology
company providing over 100,000 users with actionable ideas from its
two services - The Deal & BoardEx.  Law firms, investment banks,
private equity firms and hedge funds use The Deal service to find
their next deal and BoardEx to connect the dots between their
organizations and clients.  The Deal has offices in New York,
London, Washington, D.C., Petaluma, CA and Chennai, India.


[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
                                                 Total
                                                Share-      Total
                                    Total     Holders'    Working
                                   Assets       Equity    Capital
  Company         Ticker             ($MM)        ($MM)      ($MM)
  -------         ------           ------     --------    -------
ABSOLUTE SOFTWRE  ALSWF US          108.3        (42.6)     (41.9)
ABSOLUTE SOFTWRE  ABT CN            108.3        (42.6)     (41.9)
ADV MICRO DEVICE  AMD* MM         3,109.0       (412.0)     917.0
ADVENT SOFTWARE   ADVS US           424.8        (50.1)    (110.8)
AEROJET ROCKETDY  AJRD US         1,957.4       (107.2)      96.3
AEROJET ROCKETDY  GCY GR          1,957.4       (107.2)      96.3
AEROJET ROCKETDY  GCY TH          1,957.4       (107.2)      96.3
AIR CANADA        AC CN          12,755.0        (51.0)     531.0
AIR CANADA        ACDVF US       12,755.0        (51.0)     531.0
AIR CANADA        ACEUR EU       12,755.0        (51.0)     531.0
AIR CANADA        ADH2 GR        12,755.0        (51.0)     531.0
AIR CANADA        ADH2 TH        12,755.0        (51.0)     531.0
AK STEEL HLDG     AKS* MM         4,084.4       (599.7)     763.6
AMER RESTAUR-LP   ICTPU US           33.5         (4.0)      (6.2)
AMYLIN PHARMACEU  AMLN US         1,998.7        (42.4)     263.0
ANGIE'S LIST INC  8AL GR            173.2        (19.8)     (33.1)
ANGIE'S LIST INC  ANGI US           173.2        (19.8)     (33.1)
ANGIE'S LIST INC  8AL TH            173.2        (19.8)     (33.1)
ARCH COAL INC     ACIIQ* MM       5,848.0       (605.4)     824.1
ARIAD PHARM       ARIACHF EU        576.1        (49.7)     213.9
ARIAD PHARM       ARIAEUR EU        576.1        (49.7)     213.9
ARIAD PHARM       ARIA US           576.1        (49.7)     213.9
ARIAD PHARM       APS TH            576.1        (49.7)     213.9
ARIAD PHARM       APS GR            576.1        (49.7)     213.9
ARIAD PHARM       ARIA SW           576.1        (49.7)     213.9
ASPEN TECHNOLOGY  AZPN US           276.4        (22.2)      (4.4)
ASPEN TECHNOLOGY  AST GR            276.4        (22.2)      (4.4)
AUTOZONE INC      AZ5 TH          8,217.5     (1,778.1)    (721.4)
AUTOZONE INC      AZOEUR EU       8,217.5     (1,778.1)    (721.4)
AUTOZONE INC      AZ5 GR          8,217.5     (1,778.1)    (721.4)
AUTOZONE INC      AZ5 QT          8,217.5     (1,778.1)    (721.4)
AUTOZONE INC      AZO US          8,217.5     (1,778.1)    (721.4)
AVID TECHNOLOGY   AVD GR            264.2       (327.6)    (158.4)
AVID TECHNOLOGY   AVID US           264.2       (327.6)    (158.4)
AVINTIV SPECIALT  POLGA US        1,991.4         (3.9)     322.1
AVON - BDR        AVON34 BZ       3,774.7       (768.4)     660.1
AVON PRODUCTS     AVP TH          3,774.7       (768.4)     660.1
AVON PRODUCTS     AVP CI          3,774.7       (768.4)     660.1
AVON PRODUCTS     AVP US          3,774.7       (768.4)     660.1
AVON PRODUCTS     AVP* MM         3,774.7       (768.4)     660.1
BARRACUDA NETWOR  CUDA US           429.9        (30.5)     (27.7)
BARRACUDA NETWOR  7BM GR            429.9        (30.5)     (27.7)
BARRACUDA NETWOR  CUDAEUR EU        429.9        (30.5)     (27.7)
BENEFITFOCUS INC  BNFT US           172.4         (8.7)      28.3
BENEFITFOCUS INC  BTF GR            172.4         (8.7)      28.3
BERRY PLASTICS G  BERY US         5,028.0        (53.0)     678.0
BERRY PLASTICS G  BP0 GR          5,028.0        (53.0)     678.0
BLUE BIRD CORP    1291067D US       307.6       (133.8)       5.4
BLUE BIRD CORP    BLBD US           307.6       (133.8)       5.4
BLUE BUFFALO PET  BUFF US           479.1         (2.7)     290.6
BLUE BUFFALO PET  B6B TH            479.1         (2.7)     290.6
BLUE BUFFALO PET  B6B GR            479.1         (2.7)     290.6
BLUE BUFFALO PET  BUFFEUR EU        479.1         (2.7)     290.6
BOMBARDIER INC-B  BBDBN MM       23,863.0     (3,660.0)   1,076.0
BOMBARDIER-B OLD  BBDYB BB       23,863.0     (3,660.0)   1,076.0
BOMBARDIER-B W/I  BBD/W CN       23,863.0     (3,660.0)   1,076.0
BRINKER INTL      EAT US          1,579.9       (164.9)    (195.1)
BRINKER INTL      BKJ GR          1,579.9       (164.9)    (195.1)
BUFFALO COAL COR  BUC SJ             54.9        (10.1)      (4.5)
BURLINGTON STORE  BUI GR          2,805.3       (121.9)     112.6
BURLINGTON STORE  BURL US         2,805.3       (121.9)     112.6
CABLEVISION SY-A  CVCEUR EU       6,745.7     (4,957.7)      39.4
CABLEVISION SY-A  CVY GR          6,745.7     (4,957.7)      39.4
CABLEVISION SY-A  CVC US          6,745.7     (4,957.7)      39.4
CABLEVISION SY-A  CVY TH          6,745.7     (4,957.7)      39.4
CABLEVISION-W/I   8441293Q US     6,745.7     (4,957.7)      39.4
CABLEVISION-W/I   CVC-W US        6,745.7     (4,957.7)      39.4
CAMBIUM LEARNING  ABCD US           185.8        (72.7)     (12.7)
CASELLA WASTE     CWST US           660.7        (15.6)       4.9
CASELLA WASTE     WA3 GR            660.7        (15.6)       4.9
CENTENNIAL COMM   CYCL US         1,480.9       (925.9)     (52.1)
CHARTER COM-A     CHTR US        39,316.0        (46.0)  (1,627.0)
CHARTER COM-A     CKZA GR        39,316.0        (46.0)  (1,627.0)
CHARTER COM-A     CKZA TH        39,316.0        (46.0)  (1,627.0)
CHOICE HOTELS     CZH GR            712.8       (400.6)     168.4
CHOICE HOTELS     CHH US            712.8       (400.6)     168.4
CINCINNATI BELL   CBB US          1,460.2       (323.3)     (38.6)
CLEAR CHANNEL-A   C7C GR          6,133.3       (297.8)     433.3
CLEAR CHANNEL-A   CCO US          6,133.3       (297.8)     433.3
CLIFFS NATURAL R  CLF* MM         2,134.5     (1,811.6)     401.1
COLGATE-BDR       COLG34 BZ      11,958.0        (44.0)   1,152.0
COLGATE-PALMOLIV  CPA GR         11,958.0        (44.0)   1,152.0
COLGATE-PALMOLIV  CLEUR EU       11,958.0        (44.0)   1,152.0
COLGATE-PALMOLIV  CPA TH         11,958.0        (44.0)   1,152.0
COLGATE-PALMOLIV  CL US          11,958.0        (44.0)   1,152.0
COLGATE-PALMOLIV  CLCHF EU       11,958.0        (44.0)   1,152.0
COLGATE-PALMOLIV  CL SW          11,958.0        (44.0)   1,152.0
COLGATE-PALMOLIV  CL* MM         11,958.0        (44.0)   1,152.0
COLGATE-PALMOLIV  CPA QT         11,958.0        (44.0)   1,152.0
COMMUNICATION     8XC GR          2,622.8     (1,092.2)       -
COMMUNICATION     CSAL US         2,622.8     (1,092.2)       -
CPI CARD GROUP I  CPB GR            289.3       (207.8)      55.7
CPI CARD GROUP I  PNT CN            289.3       (207.8)      55.7
CPI CARD GROUP I  PMTS US           289.3       (207.8)      55.7
CYAN INC          YCN GR            112.1        (18.4)      56.9
CYAN INC          CYNI US           112.1        (18.4)      56.9
DELEK LOGISTICS   DKL US            361.8        (11.7)       8.2
DELEK LOGISTICS   D6L GR            361.8        (11.7)       8.2
DENNY'S CORP      DENN US           289.7         (7.5)     (18.3)
DENNY'S CORP      DE8 GR            289.7         (7.5)     (18.3)
DIRECTV           DTV CI         25,321.0     (3,463.0)   1,360.0
DIRECTV           DTV US         25,321.0     (3,463.0)   1,360.0
DIRECTV           DTVEUR EU      25,321.0     (3,463.0)   1,360.0
DOMINO'S PIZZA    EZV GR            603.2     (1,255.9)     125.1
DOMINO'S PIZZA    EZV TH            603.2     (1,255.9)     125.1
DOMINO'S PIZZA    DPZ US            603.2     (1,255.9)     125.1
DUN & BRADSTREET  DB5 GR          2,082.4     (1,146.5)     (96.6)
DUN & BRADSTREET  DB5 TH          2,082.4     (1,146.5)     (96.6)
DUN & BRADSTREET  DNB US          2,082.4     (1,146.5)     (96.6)
DUN & BRADSTREET  DNB1EUR EU      2,082.4     (1,146.5)     (96.6)
DUNKIN' BRANDS G  2DB GR          3,197.1       (220.7)     139.0
DUNKIN' BRANDS G  2DB TH          3,197.1       (220.7)     139.0
DUNKIN' BRANDS G  DNKN US         3,197.1       (220.7)     139.0
DURATA THERAPEUT  DTA GR             82.1        (16.1)      11.7
DURATA THERAPEUT  DRTX US            82.1        (16.1)      11.7
DURATA THERAPEUT  DRTXEUR EU         82.1        (16.1)      11.7
EDGE THERAPEUTIC  EDGE US            58.5        (50.6)      47.1
EDGE THERAPEUTIC  EU5 GR             58.5        (50.6)      47.1
EDGEN GROUP INC   EDG US            883.8         (0.8)     409.2
ENERGIZER HOLDIN  ENR US          1,617.5        (32.5)     639.3
ENERGIZER HOLDIN  ENR-WEUR EU     1,617.5        (32.5)     639.3
ENERGIZER HOLDIN  EGG GR          1,617.5        (32.5)     639.3
EOS PETRO INC     EOPT US             1.2        (27.9)     (29.0)
EPL OIL & GAS IN  EPA1 GR         1,140.6       (388.7)    (257.6)
EPL OIL & GAS IN  EPL US          1,140.6       (388.7)    (257.6)
EXELIXIS INC      EXELEUR EU        363.2        (74.2)     151.4
EXELIXIS INC      EXEL US           363.2        (74.2)     151.4
EXELIXIS INC      EX9 GR            363.2        (74.2)     151.4
EXELIXIS INC      EX9 TH            363.2        (74.2)     151.4
FREESCALE SEMICO  1FS QT          3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  1FS GR          3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  FSLEUR EU       3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  1FS TH          3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  FSL US          3,159.0     (3,079.0)   1,264.0
GAMING AND LEISU  2GL GR          2,516.1       (236.6)     (98.2)
GAMING AND LEISU  GLPI US         2,516.1       (236.6)     (98.2)
GARDA WRLD -CL A  GW CN           1,828.2       (378.3)     124.2
GARTNER INC       IT US           2,091.5       (159.6)    (173.7)
GARTNER INC       IT* MM          2,091.5       (159.6)    (173.7)
GARTNER INC       GGRA GR         2,091.5       (159.6)    (173.7)
GCP APPLIED TECH  GCP US            961.6       (224.1)     217.6
GCP APPLIED TECH  43G GR            961.6       (224.1)     217.6
GENTIVA HEALTH    GHT GR          1,225.2       (285.2)     130.0
GENTIVA HEALTH    GTIV US         1,225.2       (285.2)     130.0
GLG PARTNERS INC  GLG US            400.0       (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US          400.0       (285.6)     156.9
GOLD RESERVE INC  GRZ CN             15.0        (32.3)     (42.5)
GRAHAM PACKAGING  GRM US          2,947.5       (520.8)     298.5
GYMBOREE CORP/TH  GYMB US         1,242.0       (386.5)      30.8
H&R BLOCK INC     HRB US          2,289.9        (27.2)     160.2
H&R BLOCK INC     HRB TH          2,289.9        (27.2)     160.2
H&R BLOCK INC     HRB GR          2,289.9        (27.2)     160.2
H&R BLOCK INC     HRBEUR EU       2,289.9        (27.2)     160.2
HCA HOLDINGS INC  HCAEUR EU      32,744.0     (6,046.0)   3,716.0
HCA HOLDINGS INC  2BH TH         32,744.0     (6,046.0)   3,716.0
HCA HOLDINGS INC  2BH GR         32,744.0     (6,046.0)   3,716.0
HCA HOLDINGS INC  HCA US         32,744.0     (6,046.0)   3,716.0
HD SUPPLY HOLDIN  HDS US          5,486.0       (126.0)   1,101.0
HD SUPPLY HOLDIN  5HD GR          5,486.0       (126.0)   1,101.0
HECKMANN CORP-U   HEK/U US          582.6         (4.9)      50.0
HERBALIFE LTD     HOO GR          2,421.5       (130.7)     461.6
HERBALIFE LTD     HLF US          2,421.5       (130.7)     461.6
HERBALIFE LTD     HLFEUR EU       2,421.5       (130.7)     461.6
HOVNANIAN-A-WI    HOV-W US        2,602.3       (128.1)   1,612.1
HUGHES TELEMATIC  HUTCU US          110.2       (101.6)    (113.8)
IDEXX LABS        IX1 TH          1,475.0        (84.0)     (35.1)
IDEXX LABS        IDXX US         1,475.0        (84.0)     (35.1)
IDEXX LABS        IX1 GR          1,475.0        (84.0)     (35.1)
IMMUNOGEN INC     IMGN US           251.6        (16.7)     179.3
IMMUNOGEN INC     IMU GR            251.6        (16.7)     179.3
IMMUNOGEN INC     IMU TH            251.6        (16.7)     179.3
INFOR US INC      LWSN US         6,778.1       (460.0)    (305.9)
INNOVIVA INC      HVE GR            424.1       (342.6)     201.7
INNOVIVA INC      INVA US           424.1       (342.6)     201.7
INSTRUCTURE INC   INST US            64.2        (15.3)     (15.5)
INSTRUCTURE INC   1IN GR             64.2        (15.3)     (15.5)
INTERNATIONAL WI  ITWG US           345.4         (9.7)      99.8
INVENTIV HEALTH   VTIV US         2,205.7       (699.2)     112.4
IPCS INC          IPCS US           559.2        (33.0)      72.1
ISTA PHARMACEUTI  ISTA US           124.7        (64.8)       2.2
J CREW GROUP INC  JCG US          1,627.1       (759.0)     111.7
JUST ENERGY GROU  1JE GR          1,281.8       (650.4)     (48.0)
JUST ENERGY GROU  JE US           1,281.8       (650.4)     (48.0)
JUST ENERGY GROU  JE CN           1,281.8       (650.4)     (48.0)
KEMPHARM INC      KMPH US            61.4         (5.7)      52.8
KEMPHARM INC      1GD GR             61.4         (5.7)      52.8
L BRANDS INC      LB US           7,969.0       (657.0)   1,836.0
L BRANDS INC      LTD GR          7,969.0       (657.0)   1,836.0
L BRANDS INC      LB* MM          7,969.0       (657.0)   1,836.0
L BRANDS INC      LTD TH          7,969.0       (657.0)   1,836.0
L BRANDS INC      LBEUR EU        7,969.0       (657.0)   1,836.0
LEAP WIRELESS     LEAP US         4,662.9       (125.1)     346.9
LEAP WIRELESS     LWI TH          4,662.9       (125.1)     346.9
LEAP WIRELESS     LWI GR          4,662.9       (125.1)     346.9
LORILLARD INC     LLV GR          4,154.0     (2,134.0)   1,135.0
LORILLARD INC     LO US           4,154.0     (2,134.0)   1,135.0
LORILLARD INC     LLV TH          4,154.0     (2,134.0)   1,135.0
MADISON-A/NEW-WI  MSGN-W US         911.0     (1,213.9)     103.4
MAJESCOR RESOURC  MJXEUR EU           0.0         (0.1)      (0.1)
MALIBU BOATS-A    M05 GR            199.9         (1.4)      13.7
MALIBU BOATS-A    MBUU US           199.9         (1.4)      13.7
MANNKIND CORP     MNKD IT           278.0       (124.6)    (196.1)
MARRIOTT INTL-A   MAQ QT          6,153.0     (3,589.0)  (1,786.0)
MARRIOTT INTL-A   MAR US          6,153.0     (3,589.0)  (1,786.0)
MARRIOTT INTL-A   MAQ GR          6,153.0     (3,589.0)  (1,786.0)
MARRIOTT INTL-A   MAQ TH          6,153.0     (3,589.0)  (1,786.0)
MDC COMM-W/I      MDZ/W CN        1,617.2       (376.7)    (326.5)
MDC PARTNERS-A    MDZ/A CN        1,617.2       (376.7)    (326.5)
MDC PARTNERS-A    MDCA US         1,617.2       (376.7)    (326.5)
MDC PARTNERS-A    MD7A GR         1,617.2       (376.7)    (326.5)
MDC PARTNERS-EXC  MDZ/N CN        1,617.2       (376.7)    (326.5)
MEAD JOHNSON      0MJA TH         3,998.1       (592.5)   1,349.1
MEAD JOHNSON      0MJA GR         3,998.1       (592.5)   1,349.1
MEAD JOHNSON      MJNEUR EU       3,998.1       (592.5)   1,349.1
MEAD JOHNSON      MJN US          3,998.1       (592.5)   1,349.1
MERITOR INC       AID1 GR         2,050.0       (653.0)     118.0
MERITOR INC       MTOR US         2,050.0       (653.0)     118.0
MERRIMACK PHARMA  MP6 GR            102.7       (140.7)     (24.3)
MERRIMACK PHARMA  MACK US           102.7       (140.7)     (24.3)
MICHAELS COS INC  MIM GR          2,083.1     (1,909.9)     585.9
MICHAELS COS INC  MIK US          2,083.1     (1,909.9)     585.9
MIDSTATES PETROL  MPO1EUR EU      1,298.1       (816.0)      96.2
MONEYGRAM INTERN  MGI US          4,511.4       (244.2)     (27.1)
MOODY'S CORP      MCO US          5,123.4       (333.0)   2,024.6
MOODY'S CORP      MCOEUR EU       5,123.4       (333.0)   2,024.6
MOODY'S CORP      DUT GR          5,123.4       (333.0)   2,024.6
MOODY'S CORP      DUT TH          5,123.4       (333.0)   2,024.6
MOTOROLA SOLUTIO  MOT TE          8,086.0       (298.0)   2,758.0
MOTOROLA SOLUTIO  MTLA TH         8,086.0       (298.0)   2,758.0
MOTOROLA SOLUTIO  MTLA GR         8,086.0       (298.0)   2,758.0
MOTOROLA SOLUTIO  MSI US          8,086.0       (298.0)   2,758.0
MPG OFFICE TRUST  1052394D US     1,280.0       (437.3)       -
MSG NETWORKS- A   1M4 GR            911.0     (1,213.9)     103.4
MSG NETWORKS- A   1M4 TH            911.0     (1,213.9)     103.4
MSG NETWORKS- A   MSGN US           911.0     (1,213.9)     103.4
NATHANS FAMOUS    NFA GR             81.0        (65.2)      57.4
NATHANS FAMOUS    NATH US            81.0        (65.2)      57.4
NATIONAL CINEMED  XWM GR          1,006.2       (228.3)      65.4
NATIONAL CINEMED  NCMI US         1,006.2       (228.3)      65.4
NAVIDEA BIOPHARM  NAVB IT            17.5        (51.8)       8.7
NAVISTAR INTL     IHR TH          6,692.0     (5,160.0)     834.0
NAVISTAR INTL     NAV US          6,692.0     (5,160.0)     834.0
NAVISTAR INTL     IHR GR          6,692.0     (5,160.0)     834.0
NEW ENG RLTY-LP   NEN US            202.4        (30.1)       -
NORTHERN OIL AND  NOG US          1,001.2        (28.3)      32.8
NTELOS HOLDINGS   NTLS US           668.4        (22.1)     150.8
OMEROS CORP       OMER US            41.4         (9.0)      17.2
OMEROS CORP       3O8 TH             41.4         (9.0)      17.2
OMEROS CORP       3O8 GR             41.4         (9.0)      17.2
OMEROS CORP       OMEREUR EU         41.4         (9.0)      17.2
OMTHERA PHARMACE  OMTH US            18.3         (8.5)     (12.0)
OUTERWALL INC     OUTR US         1,366.1        (22.1)      43.2
OUTERWALL INC     CS5 GR          1,366.1        (22.1)      43.2
PALM INC          PALM US         1,007.2         (6.2)     141.7
PBF LOGISTICS LP  11P GR            432.7       (191.5)      27.8
PBF LOGISTICS LP  PBFX US           432.7       (191.5)      27.8
PHILIP MORRIS IN  4I1 TH         33,956.0    (11,476.0)     418.0
PHILIP MORRIS IN  PMI SW         33,956.0    (11,476.0)     418.0
PHILIP MORRIS IN  PM1CHF EU      33,956.0    (11,476.0)     418.0
PHILIP MORRIS IN  PMI1 IX        33,956.0    (11,476.0)     418.0
PHILIP MORRIS IN  PM FP          33,956.0    (11,476.0)     418.0
PHILIP MORRIS IN  4I1 GR         33,956.0    (11,476.0)     418.0
PHILIP MORRIS IN  PMI EB         33,956.0    (11,476.0)     418.0
PHILIP MORRIS IN  PM1EUR EU      33,956.0    (11,476.0)     418.0
PHILIP MORRIS IN  PM1 TE         33,956.0    (11,476.0)     418.0
PHILIP MORRIS IN  PM US          33,956.0    (11,476.0)     418.0
PLANET FITNESS-A  3PL TH            701.1        (14.2)      (1.2)
PLANET FITNESS-A  3PL GR            701.1        (14.2)      (1.2)
PLANET FITNESS-A  PLNT US           701.1        (14.2)      (1.2)
PLAYBOY ENTERP-A  PLA/A US          165.8        (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US            165.8        (54.4)     (16.9)
PLY GEM HOLDINGS  PGEM US         1,311.1        (80.8)     264.6
PLY GEM HOLDINGS  PG6 GR          1,311.1        (80.8)     264.6
POLYMER GROUP-B   POLGB US        1,991.4         (3.9)     322.1
PROTECTION ONE    PONE US           562.9        (61.8)      (7.6)
PURETECH HEALTH   PRTCL EB            -            -          -
PURETECH HEALTH   PRTCL IX            -            -          -
PURETECH HEALTH   PRTC LN             -            -          -
PURETECH HEALTH   PRTCGBX EU          -            -          -
QUALITY DISTRIBU  QDZ GR            413.0        (22.9)     102.9
QUALITY DISTRIBU  QLTY US           413.0        (22.9)     102.9
QUINTILES TRANSN  QTS GR          4,033.7       (179.9)     996.2
QUINTILES TRANSN  Q US            4,033.7       (179.9)     996.2
RAYONIER ADV      RYQ GR          1,288.0        (17.0)     195.0
RAYONIER ADV      RYAM US         1,288.0        (17.0)     195.0
REGAL ENTERTAI-A  RETA GR         2,409.1       (902.0)    (133.8)
REGAL ENTERTAI-A  RGC* MM         2,409.1       (902.0)    (133.8)
REGAL ENTERTAI-A  RGC US          2,409.1       (902.0)    (133.8)
RENAISSANCE LEA   RLRN US            57.0        (28.2)     (31.4)
RENTECH NITROGEN  2RN GR            291.1       (138.0)      13.7
RENTECH NITROGEN  RNF US            291.1       (138.0)      13.7
RENTPATH LLC      PRM US            208.0        (91.7)       3.6
REVLON INC-A      RVL1 GR         1,924.5       (623.3)     334.4
REVLON INC-A      REV US          1,924.5       (623.3)     334.4
ROUNDY'S INC      RNDY US         1,095.7        (92.7)      59.7
ROUNDY'S INC      4R1 GR          1,095.7        (92.7)      59.7
RURAL/METRO CORP  RURL US           303.7        (92.1)      72.4
SALLY BEAUTY HOL  S7V GR          2,043.1       (321.7)     674.9
SALLY BEAUTY HOL  SBH US          2,043.1       (321.7)     674.9
SANCHEZ ENERGY C  SN* MM          1,532.2       (473.6)     171.9
SANCHEZ ENERGY C  SN US           1,532.2       (473.6)     171.9
SBA COMM CORP-A   SBACEUR EU      7,396.8     (1,697.7)      46.6
SBA COMM CORP-A   SBJ GR          7,396.8     (1,697.7)      46.6
SBA COMM CORP-A   SBAC US         7,396.8     (1,697.7)      46.6
SBA COMM CORP-A   SBJ TH          7,396.8     (1,697.7)      46.6
SCIENTIFIC GAM-A  TJW GR          8,615.1       (980.8)     655.1
SCIENTIFIC GAM-A  SGMS US         8,615.1       (980.8)     655.1
SEARS HOLDINGS    SHLD US        12,769.0     (1,293.0)     701.0
SEARS HOLDINGS    SEE GR         12,769.0     (1,293.0)     701.0
SEARS HOLDINGS    SEE TH         12,769.0     (1,293.0)     701.0
SILVER SPRING NE  SSNI US           529.8        (99.3)     (31.1)
SILVER SPRING NE  9SI TH            529.8        (99.3)     (31.1)
SILVER SPRING NE  9SI GR            529.8        (99.3)     (31.1)
SIRIUS XM CANADA  XSR CN            311.1       (147.2)    (189.0)
SIRIUS XM HOLDIN  SIRI US         8,046.7       (166.5)  (1,934.6)
SIRIUS XM HOLDIN  RDO TH          8,046.7       (166.5)  (1,934.6)
SIRIUS XM HOLDIN  RDO GR          8,046.7       (166.5)  (1,934.6)
SONIC CORP        SO4 GR            616.1        (20.7)       7.4
SONIC CORP        SONC US           616.1        (20.7)       7.4
SONIC CORP        SONCEUR EU        616.1        (20.7)       7.4
SPORTSMAN'S WARE  SPWH US           343.4        (14.0)      91.8
SPORTSMAN'S WARE  06S GR            343.4        (14.0)      91.8
STINGRAY - SUB V  RAY/A CN          128.2        (17.8)     (41.0)
STINGRAY DIG-VSV  RAY/B CN          128.2        (17.8)     (41.0)
SUN BIOPHARMA IN  SNBP US             -            -          -
SUPERVALU INC     SVU US          4,643.0       (444.0)      81.0
SUPERVALU INC     SJ1 TH          4,643.0       (444.0)      81.0
SUPERVALU INC     SJ1 GR          4,643.0       (444.0)      81.0
SYNERGY PHARMACE  SGYP US           144.0        (27.1)     123.4
SYNERGY PHARMACE  SGYPEUR EU        144.0        (27.1)     123.4
SYNERGY PHARMACE  S90 GR            144.0        (27.1)     123.4
TRANSDIGM GROUP   T7D GR          8,427.0     (1,038.3)   1,173.7
TRANSDIGM GROUP   TDG US          8,427.0     (1,038.3)   1,173.7
TRINET GROUP INC  TNETEUR EU      1,609.6        (14.1)      54.4
TRINET GROUP INC  TN3 TH          1,609.6        (14.1)      54.4
TRINET GROUP INC  TNET US         1,609.6        (14.1)      54.4
TRINET GROUP INC  TN3 GR          1,609.6        (14.1)      54.4
UNISYS CORP       UISCHF EU       2,143.2     (1,378.6)     165.2
UNISYS CORP       UIS1 SW         2,143.2     (1,378.6)     165.2
UNISYS CORP       USY1 GR         2,143.2     (1,378.6)     165.2
UNISYS CORP       USY1 TH         2,143.2     (1,378.6)     165.2
UNISYS CORP       UISEUR EU       2,143.2     (1,378.6)     165.2
UNISYS CORP       UIS US          2,143.2     (1,378.6)     165.2
VECTOR GROUP LTD  VGR US          1,398.8        (56.8)     457.4
VECTOR GROUP LTD  VGR GR          1,398.8        (56.8)     457.4
VENOCO INC        VQ US             403.8       (354.3)     195.7
VERISIGN INC      VRSN US         2,577.3     (1,031.4)     (38.8)
VERISIGN INC      VRS TH          2,577.3     (1,031.4)     (38.8)
VERISIGN INC      VRS GR          2,577.3     (1,031.4)     (38.8)
VERIZON TELEMATI  HUTC US           110.2       (101.6)    (113.8)
VERSEON CORP      VSN LN              -            -          -
VIRGIN MOBILE-A   VM US             307.4       (244.2)    (138.3)
WEIGHT WATCHERS   WTW US          1,395.2     (1,337.7)    (193.6)
WEIGHT WATCHERS   WW6 QT          1,395.2     (1,337.7)    (193.6)
WEIGHT WATCHERS   WTWEUR EU       1,395.2     (1,337.7)    (193.6)
WEIGHT WATCHERS   WW6 TH          1,395.2     (1,337.7)    (193.6)
WEIGHT WATCHERS   WW6 GR          1,395.2     (1,337.7)    (193.6)
WEST CORP         WSTC US         3,612.3       (552.1)     243.1
WEST CORP         WT2 GR          3,612.3       (552.1)     243.1
WESTERN REFINING  WR2 GR            412.0        (28.1)      66.3
WESTERN REFINING  WNRL US           412.0        (28.1)      66.3
WINGSTOP INC      WING US           117.2        (14.3)       3.6
WINGSTOP INC      EWG GR            117.2        (14.3)       3.6
WINMARK CORP      GBZ GR             46.8        (36.0)      11.1
WINMARK CORP      WINA US            46.8        (36.0)      11.1
WYNN RESORTS LTD  WYNNCHF EU      9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYNN SW         9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYNN US         9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYNN* MM        9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYR TH          9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYR QT          9,981.2        (60.8)   1,234.7
WYNN RESORTS LTD  WYR GR          9,981.2        (60.8)   1,234.7
YRC WORLDWIDE IN  YEL1 GR         1,894.6       (379.4)     160.9
YRC WORLDWIDE IN  YRCWEUR EU      1,894.6       (379.4)     160.9
YRC WORLDWIDE IN  YEL1 TH         1,894.6       (379.4)     160.9
YRC WORLDWIDE IN  YRCW US         1,894.6       (379.4)     160.9


                            *********

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 ***