TCR_Public/160212.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, February 12, 2016, Vol. 20, No. 43

                            Headlines

33 VANDERBILT A&P: Voluntary Chapter 11 Case Summary
ALLIANCE ONE: Dimensional Fund Reports 6.3% Stake as of Dec. 31
AMERICAN APPAREL: Charney Joins Group Targeting Chapter 11 Stay
AMERICAN ENERGY: S&P Lowers CCR to 'CCC', Outlook Negative
ANNA ROBINSON: 7th Cir. Blocks Trustee from Seizing Book of Mormon

ANTELOPE VALLEY: Moody's Assigns Ba3 Rating to 2016A Revenue Bonds
ARCH COAL: Kaye Scholer, 2 Others File Rule 2019 Statement
ARCTIC GLACIER: Court Dismisses Antitrust Claims
ATLANTIC CITY: Has 45 Days to Pay $62.5M Casino Tax Refund
BOOM LIMO: Case Summary & 7 Largest Unsecured Creditors

CAESARS ENTERTAINMENT: Operating Unit Wants Plan Filing Until July
CALMENA ENERGY: E&Y Seeks Court OK to Pay C$1-Mil. to HSBC
CHICAGO BOARD: Slashes Biggest Junk Bond Deal, to Pay Interest
CIVITAS SOLUTIONS: S&P Assigns 'B+' CCR, Outlook Positive
CONTRA COSTA PFA: S&P Raises Rating  on 2007B Bonds to 'BB+'

CONTRA COSTA PFA: S&P Raises Rating on 2007A Bonds From BB+
CORUS ENTERTAINMENT: S&P Rates Proposed C$300MM Sr. Notes 'B+'
CURTIS JAMES JACKSON: Wants to Extend Contract as Effen Vodka Rep
DEWEY & LEBOEUF: Manhattan DA Rips Execs' Bids to Dodge 2nd Trial
ELITE PHARMACEUTICALS: Incurs $37 Million Net Loss in 3rd Quarter

ENERGY TRANSFER: Tumbles as Chief Financial Officer Replaced
ERIE ACQUISITION: Moody's Assigns B2 Corporate Family Rating
FILENE'S BASEMENT: Blasts Ex-CEO Syms' Bid for Severance
GEMINI HDPE: Moody's Affirms Ba2 Rating on Sr. Secured Term Loan
GT ADVANCED: Disclosure Statement Approved Over Objections

HAGGEN HOLDINGS: Hires RGP as Consultants on Claims Reconciliation
HALCON RESOURCES: Goldman Sachs Holds 6% Stake as of Dec. 31
HOPE ACADEMY: Fitch Lowers Rating on $8.6MM 2011 Bonds to 'B'
HORSEHEAD HOLDING: $90M DIP Gets Interim Approval After Rework
HORSEHEAD HOLDING: Meeting of Creditors Set for March 11

IGPS COMPANY: Trustee's Suit Against Former Officers Remanded
IMMUNICON CORP: Trustee's Appeal Goes to 3rd Cir.
INTELLICELL BIOSCIENCES: YA Global Reports 9.99% Stake
KDP BELLEFONTE: Voluntary Chapter 11 Case Summary
KINGOLD JEWELRY: NASDAQ Extends Listing Compliance Deadline

LEHMAN BROTHERS: Defends $83M Swap Suit Against Barclays
LEHMAN BROTHERS: Sues Lenders Over Faulty Mortgage Sales
LENDINGCLUB CORP: Average Loan Performance "Within Expectations"
LIQUIDMETAL TECHNOLOGIES: Amends "Change of Control" Agreements
LIQUIDMETAL TECHNOLOGIES: Amends Employment Agreement with CEO

MALIBU LIGHTING: Hires Keen-Summit as Real Estate Broker
MCCLATCHY CO: Dimensional Fund Reports 5.5% of Class A Shares
METRO AFFILIATES: McCarthy Bid to Scrap MOU, Clarify Plan Denied
MF GLOBAL: Liquidation Ends with $8.1 Billion Distributed
MIDSTATES PETROLEUM: Borrows $249.2 Million From SunTrust

MIDSTATES PETROLEUM: Common Stock Delisted From NYSE
MIDSTATES PETROLEUM: S&P Lowers CCR to 'CCC-', Outlook Negative
MORGANS HOTEL: Units Extend Notes and Loans Maturity Date to 2017
NATIONAL JEWISH: Fitch Affirms BB+ Rating on 2012/2005 Rev. Bonds
NAVISTAR INTERNATIONAL: Franklin Resources Reports 18.7% Stake

NELSON DESIGN: Case Summary & 8 Largest Unsecured Creditors
NEOMEDIA TECHNOLOGIES: YA Global, et al., Report 9.9% Stake
NEW BEGINNINGS: Case Summary & 12 Largest Unsecured Creditors
NEW GULF RESOURCES: $75MM DIP, Disclosure Cleared at 11th Hour
NUO THERAPEUTICS: Feb. 22 Hearing on Key Employee Incentive Plan

NYC CONSTRUCTORS: WTC Contractor Gets Nod for March Auction
OLDE COUNTRY REPRODUCTIONS: Case Summary & 20 Top Creditors
OLLIE'S HOLDINGS: Moody's Withdraws Ba3 Corporate Family Rating
OSAGE EXPLORATION: Asks Court to Approve $1.4MM Apollo DIP Loan
OSAGE EXPLORATION: Limited Objections to Apollo Financing Filed

OSAGE EXPLORATION: Massive Drop in Crude Oil Cues Chapter Filing
PHILADELPHIA SCHOOL: Fitch Affirms 'BB-' Rating on $1.7-Bil. Bonds
POWERWAVE TECHNOLOGIES: Subcontractor's Suit Survives Dismissal Bid
PREMIER EXHIBITIONS: Commences Trading on OTCQB Marketplace
QUICKSILVER RESOURCES: Sells Oil Assets to BlueStone for $245-Mil.

REICHHOLD HOLDINGS: Gets Court Approval for PBGC Deal
RETROPHIN INC: Goldman Sachs Reports 5.4% Stake as of Dec. 31
RICEBRAN TECHNOLOGIES: Inks Joint Venture with Narula Group
RONA INC: DBRS Puts BB Rating Under Review With Pos. Implication
ROTHSTEIN ROSENFELDT: Sale of Florida Mansion Gets Court's Nod

RYCKMAN CREEK: Okayed to Get $3 Million Bridge Loan
SAMUEL E. WYLY: Denies Liability in Atty's $2.2-Bil. Tax Row Theory
SANMINA CORP: Fitch Affirms 'BB+' IDR Then Withdraws Rating
SANTA FE GOLD: Plan Filing Exclusivity Ends March 23
SEABOARD REALTY: Parties Say Newbury Case Like Ponzi Scheme

SEARS HOLDINGS: Provides Fourth Quarter Financial Update
SHAI SHAWN TAMIR: Banks' Claims are Secured, Court Rules
SHAPPHIRE RESOURCES: Entitled to Turnover of Calif. Property
SIGNAL INTERNATIONAL: Wants Removal Period Extended to May 6
SPENDSMART NETWORKS: Has 38.3M Shares of Common stock Outstanding

SPRINGMORE II: $30K Interim Payment for Administrative Fees Okayed
SUNDEVIL POWER: Case Summary & 12 Largest Unsecured Creditors
SUNDEVIL POWER: Files for Chapter 11 Petition to Seek Buyer
TAYLOR-WHARTON INT'L: Court Approves Logan & Co as Admin Advisor
TAYLOR-WHARTON INT'L: Court Okays Nixon Peabody as Special Counsel

TAYLOR-WHARTON: Seeks Approval of $1.2-Mil. Inventory Sale
TAYLOR-WHARTON: Wants Until May 4 to Decide on Liberty Lease
TENET HEALTHCARE: London Company Reports 4.8% Stake as of Dec. 31
TGHI INC: Hires KCC as Administrative Agent
TGHI INC: Seeks Joint Administration of Cases

TGHI INC: Taps KCC as Claims and Noticing Agent
TRACK GROUP: Incurs $2.12 Million Net Loss in First Quarter
TRIAD CONSTRUCTION: JKV's Bid to Dismiss Co-Owners' Claims Granted
TRONOX INC: 2nd Circ. Stays Order Blocking Pa. Pollution Suit
VARIANT HOLDING: Ex-Atty Facing Contempt Over Held Docs, Emails

VILLAGE GREEN I: 6th Cir. Affirms Reversal of Confirmation Order
VISION ADVENTURES: Default Judgment Bid vs. Linda Griffin Denied
WHISKEY ONE: Has Interim DIP Financing Order
XINERGY CORP: Completes Restructuring, Exits Chapter 11
[*] Bankruptcy Filings for 2015 Lowest Since 2007

[*] Hedge Fund Slaps Olshan Frome with $21M Malpractice Suit
[*] Heidi Sorvino Joins LeClairRyan Manhattan as Shareholder
[*] Houlihan Lokey Sees "Growing Pockets of Distress"
[*] HSBC Will Pay $601 Million in Federal-State Mortgage Case
[*] Oil Bankruptcies Seen Spurring Mergers

[*] Senate Judiciary Committee Considers FACT Act, Asbestos Claims
[^] BOOK REVIEW: The Sorcerer's Apprentice - Medical Miracles

                            *********

33 VANDERBILT A&P: Voluntary Chapter 11 Case Summary
----------------------------------------------------
Debtor: 33 Vanderbilt A&P, Inc
        1172 Fulton Street
        Brooklyn, NY 11216

Case No.: 16-40569

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: February 10, 2016

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Irene Nwanyanwu, Esq.
                  ANELE & ASSOCIATES
                  97-13 Springfield Boulevard, 1st Floor
                  Queens Village, NY 11429
                  Tel: 718 776 0022
                  Fax: 718 776 0033
                  Email: irenenn@optonline.net

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Abdel  Satti, president.

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


ALLIANCE ONE: Dimensional Fund Reports 6.3% Stake as of Dec. 31
---------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Dimensional Fund Advisors LP disclosed that as of
Dec. 31, 2015, it beneficially owns 562,456 shares of common stock
of Alliance One International representing 6.33 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/ZPVs5X

                        About Alliance One

Alliance One International is principally engaged in purchasing,
processing, storing, and selling leaf tobacco.  The Company
purchases tobacco primarily in the United States, Africa, Europe,
South America and Asia for sale to customers primarily in the
United States, Europe and Asia.

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

                            *    *    *

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

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


AMERICAN APPAREL: Charney Joins Group Targeting Chapter 11 Stay
---------------------------------------------------------------
Pete Brush at Bankruptcy Law360 reported that ousted American
Apparel CEO Dov Charney and other former workers at the
reorganizing retailer asked a Delaware bankruptcy judge on Feb. 3,
2016, to lift a stay barring them from pursuing employment-related
and other claims in Los Angeles, California, superior court,
arguing that the company's insurance fund would bear any resulting
liability.  The motion was lodged less than two weeks after
Charney's plan to reorganize the retailer was turned aside by U.S.
Bankruptcy Judge Brendan L. Shannon in favor of a plan backed by
bondholders.

                      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, 2016, 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.


AMERICAN ENERGY: S&P Lowers CCR to 'CCC', Outlook Negative
----------------------------------------------------------
Standard & Poor's Ratings Services lowered the corporate credit
rating on Oklahoma City-based oil and gas exploration and
production (E&P) company American Energy – Woodford LLC (AEW) to
'CCC' from 'CCC+'.  The outlook is negative.

S&P also affirmed the 'CCC-' issue-level rating on the company's
second-lien notes and revised the recovery rating on the notes to
'5', indicating S&P's expectation for modest (10% to 30%, higher
end of the range) recovery to creditors in the event of a payment
default, from '6'.  S&P also lowered the issue-level rating on the
company's senior unsecured notes to 'CC' from 'CCC-'.  The recovery
rating on the notes is '6', indicating S&P's expectations for
negligible (0% to 10%) recovery to creditors in the event of a
payment default.

"The downgrade reflects our view that AEW's leverage and liquidity
continue to deteriorate in light of our recently reduced commodity
price deck and our estimate that the company could face a near-term
liquidity crisis over the next 12 months," said Standard & Poor's
credit analyst Carin Dehne-Kiley.  The rating also reflects S&P's
opinion that the company could consider a debt exchange, given the
current market value of its second lien notes, which S&P would view
as distressed.

S&P's ratings on AEW reflect S&P's view of the company's vulnerable
business risk profile, highly leveraged financial risk profile, and
less-than-adequate liquidity.

The negative outlook reflects S&P's view that the company could
face a near-term liquidity crisis or consider a distressed exchange
over the next 12 months.

S&P could lower the rating if AEW announced a distressed exchange
or if were unable to meet its financial obligations.  

S&P could raise the rating if AEW were able to boost liquidity,
which would most likely occur if the company were able to raise
additional capital.


ANNA ROBINSON: 7th Cir. Blocks Trustee from Seizing Book of Mormon
------------------------------------------------------------------
Jessica Corso at Bankruptcy Law360 reported that an Illinois law
that exempts religious texts from being collected and sold in
bankruptcy applies even to high-value texts, the Seventh Circuit
ruled on Feb. 4, 2016, preventing a trustee from getting her hands
on a first-edition Book of Mormon.

Trustee Cynthia Hagan said the Book of Mormon owned by bankrupt
individual Anna Robinson should be used to pay back creditors since
she owns other, less valuable copies of the Mormon Bible.


ANTELOPE VALLEY: Moody's Assigns Ba3 Rating to 2016A Revenue Bonds
------------------------------------------------------------------
Issue: Revenue Bonds, Series 2016A (Tax-Exempt); Rating: Ba3; Sale
Amount: $140,000,000; Expected Sale Date: 02/23/2016; Rating
Description: Revenue: Other

Summary Rating Rationale

Moody's Investors Service assigns a Ba3 to Antelope Valley
Healthcare District's (AVHD) proposed, $140 million Series 2016A
bonds. Bonds are expected to have their final maturity in 2046. The
rating and outlook assume that AVHD is able to complete the
transaction on terms that are reasonably economic and do not
increase annual debt service. At this time we are affirming the Ba3
rating on AVHD's existing debt. The outlook is negative

The Ba3 rating reflects AVHD's history of challenging operating
performance characterized by low levels of operating cash flow, a
challenging payor mix that is heavily weighted towards government
payors, and modest liquidity including a steadily decreasing days
cash on hand position. Compounding these challenges has been
turnover in senior management over the last several years that we
believe is partly due to a difficult working relationship with the
board of AVHD.

These challenges are offset by fundamental strengths of the
organization, including its status as a provider of many unique
services in its market, the absence of material competition, and
the organization's success in securing supplemental funding over
many years.

Rating Outlook

The negative outlook reflects the challenges AVHD has had
maintaining steady operating performance and the turnover in senior
management over the last several years. If the organization is able
to maintain current levels of performance and halt the erosion of
its liquidity, we expect to revise the outlook to stable in
subsequent reviews.

Factors that Could Lead to an Upgrade

Sustained improvement of operating cash flow

Stabilization of senior management

Factors that Could Lead to a Downgrade

Further turnover in senior management

Material reductions of supplemental funding leading to weaker
operating cash flow

Inability to complete the proposed transaction on terms
substantially similar to what has been proposed

Legal Security

The bonds are secured by a revenue pledge. Financial covenants on
AVHD's existing debt include minimum debt service coverage of
1.35x, debt to capitalization of under 60% and minimum days cash on
hand of 90 days.

The proposed Series 2016A would include financial covenants of
minimum debt service coverage of 1.1x, and minimum days cash on
hand of 55 days.

Use of Proceeds

Bond proceeds will be used to refinance all of AVHD's debt and
provide $10 million in proceeds for several construction projects
that will bring AVHD into seismic compliance through 2030.

Obligor Profile

AVHD operates 420 licensed bed Antelope Valley Hospital, an acute
care hospital located in Lancaster, CA. AVHD is a political
subdivision of the State of California and is governed by a
five-member elected board of directors.


ARCH COAL: Kaye Scholer, 2 Others File Rule 2019 Statement
----------------------------------------------------------
Kaye Scholer LLP, Paul Weiss Rifkind Wharton & Garrison LLP, and
Thompson Coburn LLP disclosed in a court filing that they represent
some creditors in the Chapter 11 cases of Arch Coal Inc. and its
affiliates.

A list of these creditors is available without charge at
http://is.gd/inh1Sq

Thompson Coburn also represents Wilmington Trust National
Association in its capacity as administrative agent under a credit
agreement dated June 14, 2011, among Arch Coal, PNC Bank National
Association and the lenders; and as agent under a credit agreement
dated Jan. 21, 2016, among the company, its subsidiaries and the
lenders.

The law firms made the disclosure pursuant to Rule 2019 of the
Federal Rules of Bankruptcy Procedure.

The firms can be reached through:

   Mark F. Liscio, Esq.
   Scott D. Talmadge, Esq.
   Kaye Scholer LLP
   250 W. 55th Street
   New York, NY 10019
   Telephone: (212) 836-8000
   Facsimile: (212) 836-6540

      -- and --

   Michael D. Messersmith, Esq.
   Kaye Scholer LLP
   Three First National Plaza
   70 West Madison Street, Suite 4200
   Chicago, IL 60602
   Telephone: (312) 583-2300
   Facsimile: (312) 583-2360

   Mark V. Bossi, Esq.
   Thompson Coburn LLP
   One US Bank Plaza
   St. Louis, MO 63101
   Telephone: (314) 552-6000
   Facsimile: (314) 552-7000

   Brian S. Hermann, Esq.
   Sarah Hartnett, Esq.
   Paul Weiss Rifkind Wharton & Garrison LLP
   1285 Avenue of the Americas
   New York, NY 10019
   Telephone: (212) 373-3000
   Facsimile: (212) 757-3990

                         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.


ARCTIC GLACIER: Court Dismisses Antitrust Claims
------------------------------------------------
Eleanor Tyler, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that a former packaged ice salesman who contends he was
boycotted for blowing the whistle on a market allocation conspiracy
can't reassert antitrust claims against his bankrupt former
employer or other alleged conspirators.

According to the report, Martin McNulty claimed he was blackballed
from the packaged ice sales market for refusing to go along with a
market allocation scheme his employer, Arctic Glacier Inc., had
going with its competitors.  He became an informant for the
government in an eventual criminal prosecution of several in the
packaged ice industry, the report said.

Judge Paul D. Borman in 2009 dismissed McNulty's boycott claim
against his former employer and related companies because McNulty
couldn't allege any competitive harm to the market for "packaged
ice sales representatives" from his being blackballed, just injury
to himself personally, the report related.  Judge Borman let
McNulty's RICO claims proceed.

After Arctic Glacier and a competitor, Reddy Ice, declared
bankruptcy, McNulty sought to not only amend his complaint to
reassert the antitrust claims but to deal administratively with the
fact that two of the defendants went bankrupt, the report further
related.  Judge Borman instead granted Arctic Glacier's motion to
dismiss, holding that all of McNulty's claims against Arctic
Glacier were released under the bankruptcy plan for the company, so
amendment would be futile, the report added.

Judge Borman also held that McNulty had already released Reddy Ice
when it entered bankruptcy.  That leaves only McNulty's RICO claim
against Home City Ice Co. remaining to be adjudicated, since his
other claims were either released or have been dismissed for
failure to state a claim, the report noted.

                       About Arctic Glacier

Winnipeg, Canada-based Arctic Glacier Inc., et al., manufacture
packaged ice for distribution in Canada and the United States.

Philip J. Reynolds of Alvarez & Marsal Canada Inc., as monitor and
foreign representative, filed Chapter 15 petitions for Arctic
Glacier, et al. (Bankr. D. Del. Lead Case No. 12-10603) on Feb.
22, 2012.  Bankruptcy Judge Kevin Gross presides over the case.
Mr. Reynolds is represented by Robert S. Brady, Esq., at Young,
Conaway, Stargatt & Taylor, LLP.

The Debtors is estimated to have assets and debts at $100 million
to $500 million.

The Troubled Company Reporter reported that Arctic Glacier Income
Fund, Arctic Glacier Inc., Arctic Glacier International Inc., and
its subsidiaries, and Glacier Valley Ice Company L.P. have filed
with the Manitoba Court of Queen's Bench (Winnipeg Centre) a plan
of compromise or arrangement dated May 21, 2014, as amended,
pursuant to the Companies' Creditors Arrangement Act (Canada).

                          About Reddy Ice

Reddy Ice Holdings Inc. and wholly owned subsidiary Reddy Ice
Corp. manufacture and distribute packaged ice in the United
States.  As of Dec. 31, 2011, the Company had assets totaling
$434 million and total liabilities of $531 million.  The bulk of
the liabilities were total debt outstanding of $471.5 million.

Reddy Holdings and Reddy Corp. on April 12, 2012, filed voluntary
Chapter 11 bankruptcy petitions (Bankr. N.D. Tex. Case Nos. 12-
32349 and 12-32350) together with a plan of reorganization and
accompanying disclosure statement to complete a previously
announced plan to strengthen its balance sheet and ensure strong
financial footing for the future.  As part of the restructuring,
Reddy Ice seeks to pursue a strategic acquisition of all or
substantially all of the businesses and assets of Arctic Glacier
Income Fund and its subsidiaries, including Arctic Glacier Inc., a
major producer, marketer and distributor of packaged ice in North
America.

Arctic Glacier on Feb. 22, 2012, filed for protection under the
Companies' Creditors Arrangement Act in Canada and Chapter 15 of
the Bankruptcy Code in the United States.  Arctic is seeking sale
or investment proposals from qualified bidders.

Reddy Ice's Plan provides for the restructuring of the Company's
obligations with respect to $300 million of First Lien Notes;
$139.4 million of Second Lien Notes; and $11.7 million of Discount
Notes.  If the Plan is approved, all Second Lien Notes will be
exchanged and will be retired and cancelled and all Discount Notes
will be cancelled.  Reddy Ice said the Plan has the support of a
majority of its lenders and major creditors, led by Centerbridge
Capital Partners II, L.P.  A hearing to approve the Disclosure
Statement and confirm the Plan has been set for May 18, 2012.

Judge Stacey G. Jernigan presides over the case.  Reddy Ice's
financial advisors are Jefferies & Company, Inc. and FTI
Consulting, Inc.  Kurtzman Carson Consultants serves as claims and
notice agent.

Centerbridge Partners is represented by Jonathan S. Zinman, Esq.,
Joshua A. Sussberg, Esq., James H.M. Sprayregen, Esq., and Anup
Sathy, Esq., at Kirkland & Ellis.

Macquarie Bank Limited is represented by Sarah Hiltz Seewer, Esq.,
and David R. Seligman, Esq., also at Kirkland & Ellis.

The ad hoc group of First Lien and Second Lien Noteholders is
represented by Joshua Andrew Feltman, Esq., at Wachtell Lipton
Rosen & Katz.  Wells Fargo Bank, National Association, serves as
First Lien and Second Lien Agent.

The U.S. Bankruptcy Court for the Northern District of Texas,
Dallas Division confirmed the first amended joint plan of
reorganization of the Company and its direct subsidiary, Reddy Ice
Corporation.

As reported in the Troubled Company Reporter on June 5, 2012,
Reddy Ice Holdings announced that its Plan is now effective, and
the Company has emerged from Chapter 11 protection. The Company is
now majority-owned by affiliates of Centerbridge Partners.


ATLANTIC CITY: Has 45 Days to Pay $62.5M Casino Tax Refund
----------------------------------------------------------
Jeannie O'Sullivan at Bankruptcy Law360 reported that a New Jersey
judge on Feb. 5, 2016, ordered Atlantic City pay the overdue $62.5
million tax refund it owes to Borgata Hotel and Casino on Feb. 2,
2016, but gave the cash-strapped municipality a 45-day window so a
new plan for the state's financial intervention has time to
unfold.

During a hearing in Atlantic County Superior Court, Judge Julio L.
Mendez declared it "showtime" for the resort town, which missed its
Dec. 19 deadline to pay the debt that was litigated in tax court.


BOOM LIMO: Case Summary & 7 Largest Unsecured Creditors
-------------------------------------------------------
Debtor: Boom Limo LLC
        P.O. Box 641504
        San Jose, CA 95154

Case No.: 16-50390

Chapter 11 Petition Date: February 10, 2016

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

Debtor's Counsel: John G. Downing, Esq.
                  JOHN G. DOWNING, APC
                  2021 The Alameda #200
                  San Jose, CA 95126
                  Tel: (408) 564-7020
                  Email: john@downinglaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Francisco Carlos Rezende,
president/CEO.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/canb16-50390.pdf


CAESARS ENTERTAINMENT: Operating Unit Wants Plan Filing Until July
------------------------------------------------------------------
BankruptcyData reported that Caesars Entertainment Operating
Company filed with the U.S. Bankruptcy Court a motion to extend the
exclusive period during which the Company can file a Chapter 11
plan and solicit acceptances thereof through and including July 15,
2016, and Sept. 15, 2016, respectively.

The motion explains, "The Debtors believe that the plan process can
be moved forward with the updated chapter 11 plan and disclosure
statement that will be filed at some point after the issuance of
the examiner's report, and that plan can then be amended as
necessary to reflect additional consensus reached with the Debtors'
other constituents.

Although the Debtors recognize that full consensus may not be
achievable -- if at all -- until the parties are on the courthouse
steps at the confirmation hearing, the Debtors believe that the
right time to commence in parallel both a mediation process as well
as the confirmation process (with relevant schedules and deadlines
that are often the vehicles that drive people to consensus) is
after parties have had a reasonable opportunity to study the
Examiner's report.  Accordingly, the Debtors request that the Court
extend the exclusivity periods to the maximum time provided under
the Bankruptcy Code to give the Debtors the time and stability
necessary to move these cases forward, hopefully bringing all of
their stakeholders on board with a consensual chapter 11 plan that
maximizes value for all stakeholders."

The Court scheduled a Feb. 17, hearing to consider the motion.

                   About Caesars Entertainment

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

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

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

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

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

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

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

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

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


CALMENA ENERGY: E&Y Seeks Court OK to Pay C$1-Mil. to HSBC
----------------------------------------------------------
Court-appointed receiver and authorized foreign representative
Ernst & Young Inc. asks the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, to approve an interim
distribution of U.S. sale proceeds to HSBC Bank Canada.

EY seeks to make an interim distribution of up to C$1,000,000 to
pay on HSBC Bank Canada's secured claim.

HSBC Bank Canada filed these secured proofs of claim:

   (a) Claim No. 9, Debtor: Calmena Energy Services, Inc., Claims
Register Case No. 15-30786, Amount: $13,306,538.96 (USD).

   (b) Claim No. 10, Debtor: Calmena Drilling Services US LP,
Claims Register Case No. 15-30786, Amount: $13,306,539 (USD).

   (c) Claim No. 4, Debtor: Calmena Energy Services (USA), Claims
Register Case No. 15-30787, Amount: $13,306,539 (USD).

   (d) Claim No. 7, Debtor: Calmena Drilling Services LLC, Claims
Register Case No. 15-30789, Amount: $13,306,539 (USD).

EY relates that all of Debtors Calmena Energy Services Inc., et.
al.'s assets that were in the territorial jurisdiction of the
United States have been sold and reduced to cash, with the liens
against those assets attaching to those cash proceeds.  EY further
relates that based on the recoveries from those sales, there will
not be enough cash to make a dividend to general unsecured
creditors.  EY tells the Court that it holds cash for the benefit
of priority tax claims and for HSBC Bank Canada, the first priority
secured lender.  It further tells the Court that it is in  the
process of determining the amount of priority tax claims that must
be paid from the sales proceeds, and has reserved an USD $400,000
to cover such tax claims when they are finally determined.

Ernst & Young is represented by:

          Steve A. Peirce, Esq.
          NORTON ROSE FULBRIGHT US LLP
          300 Convent Street, Suite 2100
          San Antonio, TX 78205-3792
          Telephone: (210)224-5575
          Facsimile: (210)270-7205
          E-mail: steve.peirce@nortonrosefulbright.com

                 - and -

          R. Andrew Black, Esq.
          Bob Bruner, Esq.
          NORTON ROSE FULBRIGHT US LLP
          Fulbright Tower
          1301 McKinney, Suite 5100
          Houston, TX 77010-3095
          Telephone: (713)651-5364
          Facsimile: (713)651-5246
          E-mail: andrew.black@nortonrosefulbright.com
                  bob.bruner@nortonrosefulbright.com

                 - and -

          Louis R. Strubeck, Jr., Esq.
          Timothy S. Springer, Esq.
          NORTON ROSE FULBRIGHT US LLP
          2200 Ross Avenue, Suite 2800
          Dallas, TX 75201
          Telephone: (214)855-8000
          Facsimile: (214)855-8200
          E-mail: louis.strubeck@nortonrosefulbright.com
                  tim.springer@nortonrosefulbright.com

                  About Calmena Energy Services

Ernst & Young Inc., as foreign representative, filed petitions
under Chapter 15 of the U.S. Bankruptcy Code on behalf of
Calgary, Canada-based Calmena Energy Services Inc. and its three
affiliates.

The lead Chapter 15 case is Case No. 15-30786.  The case is
assigned to Judge Karen K. Brown of the U.S. Bankruptcy Court
for the Southern District of Texas (Houston).

The Chapter 15 petitioner is represented by Robert Andrew Black,
Esq., at Norton Rose Fulbright LLP, in Houston, Texas.



CHICAGO BOARD: Slashes Biggest Junk Bond Deal, to Pay Interest
--------------------------------------------------------------
Karen Pierog and Dave Mckinney at Reuters reported that Chicago's
troubled public school system on Feb. 3, 2016, had to slash the
size of one of the biggest "junk" bond offerings the municipal
market has seen in years and agree to pay interest costs rivaling
Puerto Rico's in order to lure investors into the deal.

The Chicago Board of Education managed to sell only $725 million of
an originally planned $795.5 million of tax-exempt bonds, and
yields on the deal topped out at 8.5 percent, a massive premium
relative to higher-rated debt sold in the U.S. municipal bond
market and a clear indication of investors' view of the depths of
the district's fiscal woes.

Feb. 3's sale came a week after the school system had to pull the
deal in its first attempt at an offering amid worry by investors
that the district could end up in bankruptcy.

The nation's third-largest public school system has become
dependent on borrowing to bolster its budget, which is sinking
under escalating pension payments, despite credit ratings that have
dropped into the "junk" level.

The 8.5 percent yield for bonds due in 2044 with a 7 percent coupon
was slightly below the 8.727 yield for 21-year bonds in the
municipal market's last big junk bond sale -- a $3.5 billion Puerto
Rico issue in March 2014.

But the school district's so-called credit spread over the market's
benchmark triple-A scale was wider at 580 basis points versus 514
basis points for Puerto Rico in 2014, indicating investors are
demanding a stiffer penalty from the Chicago Public Schools.

"It's a Puerto-Rico grade yield and clearly signals that the
district is on an unsustainable path," said Matt Fabian, a partner
at Municipal Market Analytics.

In contrast, a top-rated issuer's debt would yield only around 2.70
percent on Wednesday, according to Municipal Market Data's
benchmark scale.

CPS officials said bond proceeds will reimburse the district's
operating fund for out-of-pocket capital costs and free up
$206 million by pushing out debt service payments.  Portions of the
deal to restructure variable-rate debt to fixed rate and
finance-related interest rate swap termination fees were
postponed.

                           *     *     *

As reported by the Troubled Company Reporter on Feb. 2, 2016,
Moody's Investors Service has downgraded to B2 from B1 the rating
on the Chicago Board of Education, IL's $5.5 billion of
Moody's-rated general obligation (GO) debt.  The district has $6.1
billion of GO debt outstanding.  The Chicago Board of Education is
the primary debt issuer for the Chicago Public Schools (CPS or the
district).  The outlook is negative.  This rating action concludes
a review for possible downgrade that Moody's initiated on Dec. 21,
2015.


CIVITAS SOLUTIONS: S&P Assigns 'B+' CCR, Outlook Positive
---------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' corporate
credit rating to home and community based-health and human services
provider Civitas Solutions Inc. on Jan. 29, 2016.  The outlook is
positive.  In conjunction with this rating action, Standard &
Poor's Ratings Services withdrew its 'B+' corporate credit rating
National Mentor Holdings Inc.

At the same time, S&P affirmed its 'B+' issue-level rating on
National Mentor Holdings Inc.'s senior secured credit facility. The
recovery rating on this debt remains '3', indicating expectations
for meaningful (50% to 70%; at the high end of the range) recovery
in the event of a payment default.

S&P's positive outlook on Civitas is based on outperformance
relative to S&P's previous 2015 base-case projections, and
potential for a higher rating if Civitas meets S&P's base-case
projections through 2016 and if the increasing public ownership of
the company results in a less aggressive financial policy.
Civitas' operating performance over the past several quarters, as
measured by margins, has been stronger than S&P's expectations, due
to lower labor and insurance costs.

"Our positive outlook on Civitas Solutions Inc. reflects our view
that improving EBITDA margins in 2016 and 2017 will sustain
leverage below 4x," said Standard & Poor's credit analyst James
Uko.  In S&P's view, these measures would result in a credit
profile consistent with a 'BB-' corporate credit rating, as opposed
to a 'B+.'  However, consideration for a rating upgrade will be
influenced by the company's financial policy as it adjusts to its
growing public ownership.

S&P could lower its outlook to stable if adjusted leverage were to
rise and remain above 5x.  This could be the result of significant
adverse reimbursement changes, difficulty integrating acquisitions,
or greater competition that hurts revenue growth that could
contribute to an EBITDA margin contraction of about 200 to 250
basis points.  It could also be caused by a large debt-financed
acquisition of more than $180 million.

S&P could consider an upgrade if, in its view, the company could
achieve and sustain leverage below 4x and the financial policy
becomes less aggressive as the financial sponsor relinquishes its
majority stake in the company over the near term.  This scenario
would entail an increase of revenue into low-double-digit range and
a 50 to 100 basis point margin improvement.


CONTRA COSTA PFA: S&P Raises Rating  on 2007B Bonds to 'BB+'
------------------------------------------------------------
Standard & Poor's Ratings Services raised its underlying rating
(SPUR) to 'BB+' from 'B' on Contra Costa County Public Financing
Authority, Calif.'s series 2007B subordinate-lien tax allocation
revenue bonds outstanding, issued for the Contra Costa County
Redevelopment Agency.  The outlook is stable.

"The upgrade reflects our improving opinion of the credit quality
of the Bay Point project area, which we consider the weakest of the
underlying project area loans, as well as our opinion of the
reduced likelihood of a draw on unrated surety debt service
reserves in light of recent assessed value growth and the state's
and the county's continuing approval of the use of surplus
unpledged redevelopment property tax trust fund revenue to pay debt
service on obligations secured by project areas with pro forma
coverage of less than 1x annual debt service," said Standard &
Poor's credit analyst Sarah Sullivant.

The rating further reflects S&P's view of:

   -- Continued inadequate coverage of annual loan payments by
      revenue generated from the Bay Point project area, although
      coverage has improved;

   -- A concentrated tax base across the five project areas; and

   -- Debt service reserves funded with unrated sureties from
      Radian Asset Assurance Inc.


CONTRA COSTA PFA: S&P Raises Rating on 2007A Bonds From BB+
-----------------------------------------------------------
Standard & Poor's Ratings Services raised its underlying rating
(SPUR) to 'BBB-' from 'BB+' on the Contra Costa County Public
Financing Authority, Calif.'s senior series 2007A and 2007A-T tax
allocation revenue bonds outstanding, issued for the Contra Costa
County Redevelopment Agency.  The outlook is stable.

"The upgrade reflects our opinion of strong recent assessed value
growth in the combined project areas, which has strengthened annual
debt service coverage to an adequate 1.21x," said Standard & Poor's
credit analyst Sarah Sullivant.

The rating further reflects S&P's opinion of the successor agency's
cash and debt management, which has been sufficient to meet annual
debt service requirements with no use of reserves.


CORUS ENTERTAINMENT: S&P Rates Proposed C$300MM Sr. Notes 'B+'
--------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'B+'
issue-level rating and '6' recovery rating to Corus Entertainment
Inc.'s proposed C$300 million senior unsecured notes.  Standard &
Poor's also assigned its 'BBB-' issue-level rating and '1' recovery
to the company's proposed C$2 billion secured term loan and C$300
million revolver.

"We understand that Corus will use the proceeds from the term loan
and notes to partially fund the acquisition of Shaw Media for
C$2.65 billion," said Standard & Poor's credit analyst Stephen
Goltz.

At the same time, Standard & Poor's maintained its CreditWatch
placement on its existing ratings on Corus, including its 'BB+'
long-term corporate credit rating (CCR) on the company.  Corus was
placed on CreditWatch with negative implications Jan. 13.  The new
issues are not on CreditWatch.

Under the terms of the agreement, the proceeds from the note
issuance will go into escrow until the deal closes.  Corus will
ultimately receive the proceeds of the notes if the escrow
conditions are met.  The company has already raised the equity
portion and has a committed bank facility and bridge loan in place.
If the acquisition does not close, S&P expects Corus will redeem
the notes and repay the notes, and S&P will withdraw its ratings on
the new issue-level debt.

The '6' recovery rating on the senior unsecured notes indicates
S&P's expectation for negligible (0%-10%) recovery for the
unsecured lenders in default.  The '1' recovery on the secured term
loan and revolver indicates S&P's expectation of very high
(90%-100%) recovery in the event of a default.  S&P bases the
recovery ratings on our prospective view of the combined entities
if the acquisition closes as proposed, which would increase Corus'
pro forma leverage.  The increase in leverage post-acquisition will
also likely lead to a one-notch downgrade on the company.  S&P
rates the unsecured notes at 'B+', two notches lower than its
expected 'BB' CCR on Corus, and rate the secured term loan and
revolver 'BBB-', two notches higher than the CCR.

S&P will aim to resolve the CreditWatch on close of the transaction
and repayment of the existing C$550 million senior unsecured notes.
S&P will likely lower the long-term CCR on Corus by one notch if
the transaction closes as proposed, as S&P expects leverage to
increase above our downside threshold of 4x.


CURTIS JAMES JACKSON: Wants to Extend Contract as Effen Vodka Rep
-----------------------------------------------------------------
Carmen Germaine at Bankruptcy Law360 reported that rapper 50 Cent
asked a Connecticut federal judge Feb. 3, 2016, to approve an
extension to his contract to represent Jim Beam Brands Co.'s Effen
brand of vodka, saying under the contract amendment he will no
longer have to contribute to Effen's marketing budget.

50 Cent, whose legal name is Curtis James Jackson III, filed a
motion Feb. 3, asking U.S. Bankruptcy Judge Ann M. Nevins to
approve an amendment to his brand collaboration agreement with Jim
Beam Brands, saying it will add a year to his contract.

Curtis James Jackson, III, aka 50 Cent, filed for Chapter 11
bankruptcy protection (Bankr. D. Conn. Case No. 15-21233) on
July 13, 2015.


DEWEY & LEBOEUF: Manhattan DA Rips Execs' Bids to Dodge 2nd Trial
-----------------------------------------------------------------
Stewart Bishop at Bankruptcy Law360 reported that the New York
County District Attorney's Office on Feb. 3, 2016, shot back at
efforts by former top executives at Dewey & LeBoeuf LLP to avoid a
second trial on charges of conning lenders and investors out of
over $100 million when the law firm collapsed, saying to let the
leaders off would disregard the law.

Prosecutors took aim at contentions by former Dewey Executive
Director Stephen DiCarmine and Chief Financial Officer Joel Sanders
that the evidence presented at their first trial was insufficient.

                      About Dewey & LeBoeuf

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

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

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

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

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

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

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

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

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

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


ELITE PHARMACEUTICALS: Incurs $37 Million Net Loss in 3rd Quarter
-----------------------------------------------------------------
Elite Pharmaceuticals, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common shareholders of $37.01 million on $2.19
million of total revenues for the three months ended
Dec. 31, 2015, compared to net income attributable to common
shareholders of $21.01 million on $1.36 million of total revenues
for the same period in 2014.

For the nine months ended Dec. 31, 2015, the Company reported a net
loss attributable to common shareholders of $32.61 million on $7.30
million of total revenues compared to net income attributable to
common shareholders of $37.99 million on $3.78 million of total
revenues for the nine months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $27.13 million in total
assets, $29.20 million in total liabilities, $58.42 million in
convertible preferred shares and a $60.49 million total
stockholders' deficit.

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

                       http://is.gd/ZuPICF

                    About Elite Pharmaceuticals

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

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


ENERGY TRANSFER: Tumbles as Chief Financial Officer Replaced
------------------------------------------------------------
Jim Polson, writing for Bloomberg Brief - Distress & Bankruptcy,
reported on Feb. 9 that Energy Transfer Equity LP, the pipeline
conglomerate that's agreed to buy Williams Cos., fell as much as 36
percent after announcing the replacement of its chief financial
officer amid investor concern that the deal is in trouble, analysts
said.

According to the report, units of Dallas-based Energy Transfer were
down 29 percent to $4.94 at midday in New York on Feb. 8, after
touching $4.44, the lowest since 2009.  Shares of Williams dropped
25 percent to $12.76 after touching $10.41, also the lowest price
since 2009, the Bloomberg report.

Energy Transfer CFO Jamie Welch will be replaced by Thomas Long,
CFO of publicly traded affiliate Energy Transfer Partners LP,
according to a filing on Feb. 5 with the U.S. Securities and
Exchange Commission.  

The change "was not based on any disagreement with respect to any
accounting or financial matter involving
the Partnership or any of its affiliates," according to a statement
on Feb. 8, the report related.  The company is in talks with Welch
about taking a consulting role on its liquefied gas export
project.

                      *     *     *

The Troubled Company Reporter, on Jan. 14, 2016, reported that
Fitch Ratings has affirmed Energy Transfer Equity, LP's (ETE)
ratings, resolving the Positive Rating Watch, as follows:

Energy Transfer Equity, L.P.

-- Long Term Issuer Default Rating (IDR) at 'BB';
-- Secured senior notes at BB+';
-- Secured term loan at 'BB+';
-- Secured revolving credit facility at 'BB+'.

The TCR, on Jan. 12, 2016, reported that Moody's Investors Service
changed Energy Transfer Equity, L.P.'s (ETE) outlook to stable from
positive, while affirming ETE's Ba2 Corporate Family Rating, its
Ba2 Senior Secured debt rating and its SGL-3 liquidity rating.  The
change in outlook to stable largely reflects Moody's downgrade of
Williams Partners L.P.'s (WPZ) senior unsecured rating to Baa3 with
a negative outlook from Baa2 negative on Jan. 7, 2015.  ETE
announced on September 28 that it would combine with The Williams
Companies, Inc. (WMB, Ba1 review down), WPZ's general partner, in a
transaction which is expected to close in the second quarter of
2016.


ERIE ACQUISITION: Moody's Assigns B2 Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service assigned B2 Corporate Family Rating (CFR)
and B2-PD Probability of Default Rating (PDR) to Erie Acquisition
Holdings, Inc. ("GCA," initially "GCA Merger Sub, Inc.") following
the announcement of its leveraged buyout. GCA Merger Sub, Inc. is
an acquisition vehicle that will be merged with and into Erie
Acquisition Holdings, Inc. upon closings of the transaction, with
Erie Acquisitions Holdings, Inc. being the surviving entity and
obligor under the new capital structure. At the same time, Moody's
assigned B1 ratings to the company's proposed first lien credit
facilities, including a $515 million first lien senior secured term
loan and a $100 million revolving credit facility. Moody's also
assigned a Caa1 rating the company's proposed $160 million senior
secured second lien term loan. The rating outlook is stable.

The proceeds from the proposed senior secured term loans, along
with a contribution of common equity, will fund the leveraged
buyout of the company by affiliates of Thomas H. Lee Partners L.P.
and Goldman Sachs & Co. ("the Sponsors"), refinance existing debt,
and pay transaction fees and expenses. Both sponsors will retain
equal ownership and controlling interest in the new company.

Moody's assigned the following rating to GCA Merger Sub, Inc.:

-- Corporate Family Rating of B2

-- Probability of Default Rating of B2-PD

-- Proposed $100 million first lien revolving credit facility due

    2021 at B1 (LGD3)

-- Proposed $515 million first lien senior secured term loan due
    2023 at B1 (LGD3)

-- Proposed $160 million second lien senior secured term loan due

    2024 at Caa1 (LGD5)

-- Stable outlook

All ratings are subject to review of final documentation. Moody's
anticipates all of the corporate and instrument ratings at GCA
Services Group, Inc. (the predecessor) to be withdrawn upon
completion of the proposed transaction and repayment of existing
debt.

RATINGS RATIONALE

"The B2 Corporate Family Rating reflects the high financial
leverage resulting from the sizable amount of debt that will be
used to fund the leveraged buyout of the company," stated Moody's
analyst Oleg Markin. "However the company's credit profile benefits
from its strong market position in the K-12 education market and
favorable business fundamentals for outsourcing custodial and
related services at a time when school districts as well as the
company's commercial clients look to streamline costs," continued
Oleg Markin.

As a result of this transaction, GCA's leverage will be higher than
typical for B2 rated companies in this industry, which is a key
constraint to the rating. Moody's estimates GCA's pro forma
debt-to-EBITDA at approximately 7.0 times on close, including
Moody's standard adjustments as of the twelve months ended
September 30, 2015s and reflecting a full year of new contracts
signed in 2015. The rating also reflects the company's modest
revenue size and limited service offerings, its recent contracts
losses in the commercial segment, moderate customer concentration,
and risks associated with private equity ownership. However, the
rating is supported by Moody's expectation for low-to-mid single
digit revenue and EBITDA growth and stable operating margins.
Revenue growth is expected to be derived primarily through the
Educational segment where outsourcing of custodial and related
services is still growing. GCA's contracts averaging 5 years for
Education customers and 3 years in the Commercial division and
renewal rates above 90% make revenue stable and predictable,
providing further support for the rating. Moody's also anticipates
that the company will generate approximately $25-30 million of
positive free cash flow on annual basis given limited capital
expenditure and working capital needs, which will be used towards
reducing overall funded debt levels. Additionally, Moody's expects
that GCA will maintain a good liquidity profile, which has been
enhanced by the increase in the revolver from $65 million to $100
million through this refinancing, which provides further support to
the rating.

The stable rating outlook reflects Moody's expectation that the
company will exhibit steady organic revenue and earnings growth at
stable margins, generating positive free cash flow that will be
used to repay moderate amount of debt and deleverage to around 6.0
times over the next 12-18 months.

The ratings could be downgraded if GCA cannot maintain leverage
(debt-to-EBITDA) below 6.0 times over the next 12-18 months, or if
the company's revenue growth decelerates caused by price erosion,
escalating costs or customer losses leading to diminished EBITDA.
Failure to maintain good liquidity or a deterioration in margins
could also warrant a downgrade.

An upgrade in the near term is unlikely given GCA's very high
financial leverage and private equity ownership. However,
achievements of consistent and high revenue growth and free cash
flow levels, along with a demonstration of balanced financial
policies, could result in an upgrade of ratings if Moody's expects
debt-to-EBITDA (Moody's adjusted) to be maintained below 5.0 times
and free-cash-flow to debt sustained above 8%.

Erie Acquisition Holdings, Inc. ("GCA," initially "GCA Merger Sub,
Inc.") provides custodial and related services to business and
educational customers in the U.S. and Puerto Rico. Management
reported revenues of over $1 billion during the twelve months ended
September 30, 2015. Following the LBO, the company will be owned by
the Sponsors.

Erie Acquisition Holdings, Inc. ("GCA," initially "GCA Merger Sub,
Inc.") provides custodial and related services to business and
educational customers in the U.S. and Puerto Rico. Management
reported revenues of over $1 billion during the twelve months ended
September 30, 2015. Following the LBO, the company will be owned by
the Sponsors.


FILENE'S BASEMENT: Blasts Ex-CEO Syms' Bid for Severance
--------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Filene's
Basement is fighting an attempt by Marcy Syms, former chief of the
retailer's corporate parent Syms Corp., to recover severance from
the company, calling the request a "cash grab" in documents filed
Friday in Delaware bankruptcy court.

The retailer is objecting to claims Syms has filed that seek to
recover $15,677 in payroll prior to the company's 2011 Chapter 11
filing and $145,577 in severance.  

In court papers, Filene's Basement said Syms is already entitled to
a settlement worth nearly $17.8 million.

                  About Filene's Basement, LLC

Massachusetts-based Filene's Basement, also called The Basement,
was the oldest off-price retailer in the United States.  The
Basement focuses on high-end goods and is known for its
distinctive, low-technology automatic markdown system.

Filene's Basement first filed for Chapter 11 bankruptcy protection
in August 1999.  Filene's Basement was bought by a predecessor of
Retail Ventures, Inc., the following year.  Retail Ventures in
April 2009 transferred the unit to Buxbaum.

Filene's Basement, Inc. and its affiliates filed for Chapter 22
(Bankr. D. Del. Case No. 09-11525) on May 4, 2009, represented by
lawyers at Pachulski Stang Ziehl & Jones LLP.  Epiq Bankruptcy
Solutions serves as claims and notice agent.  The Debtors
disclosed assets of $236 million, including real estate of $97.7
million, and liabilities of $94 million, including $31.1 million
owing on a revolving credit with Bank of America NA as agent. In
addition, there were $11.1 million in letters of credit
outstanding on the revolver.

The 2009 Debtor was formally renamed FB Liquidating Estate,
following the sale of all of its assets to Syms Corp. in June
2009.

Pursuant to the Liquidating Plan confirmed in January 2010,
secured creditors in the Chapter 11 case have been paid in full,
and holders of priority, administrative and convenience class
claims have received 100% of their allowed claims.  As reported by
the Troubled Company Reporter on Dec. 20, 2010, Alan Cohen,
Chairman of Abacus Advisors LLC and Chief Restructuring Officer
for FB Liquidating Estate disclosed that a second distribution of
dividend checks to Filene's unsecured creditors amounting to 12.5%
of approved claims has been made, bringing the cumulative
distributions on unsecured claims to 62.5%.

On Nov. 2, 2011, Syms Corp. placed itself, Filene's Basement and
two other units in Chapter 11 bankruptcy (Bankr. D. Del. Case Nos.
11-13511 to 11-13514) after a failed bid to sell the business.
The two units are Syms Clothing Inc. and Syms Advertising Inc.

Judge Kevin J. Carey presides over the case.  Lawyers at Skadden
Arps Slate Meagher & Flom LLP serve as the Debtors' counsel.  The
Debtors tapped Rothschild Inc. as investment banker and Cushman
and Wakefield Securities, Inc., as real estate financial advisors.

Syms shuttered its namesake and Filene's Basement outlets upon the
bankruptcy filing and tapped a joint venture of Gordon Brothers
Retail Partners LLC and Hilco Merchant Resources LLC to run the
going-out-of-business sales.  

Filene's Basement estimated $1 million to $10 million in assets
and $50 million to $100 million in debts.  The petitions were
signed by Gary Binkoski, authorized representative of Filene's
Basement.

The official committee of unsecured creditors appointed in the
2011 case retained Hahn & Hessen LLP as legal counsel.

Holders of equity in Syms Corp. pushed for an official
shareholders' committee and separation of the Syms and Filene's
Basement bankruptcy estates.

Gordon Brothers and Hilco were represented by Goulston & Storrs,
P.C. and Ashby & Geddes, P.A.

On August 30, 2012 the Court entered the Order Confirming the
Modified Second Amended Joint Chapter 11 Plan of Reorganization of
Syms Corp. and its subsidiaries.  The Plan provides that holders
of
Class 4 general unsecured claims of Filene's Basement, LLC will
receive 100% payment in cash, and holders of Class 5 lease
rejection claims of Filene's Basement, LLC will receive 75%
payment
in cash.


GEMINI HDPE: Moody's Affirms Ba2 Rating on Sr. Secured Term Loan
----------------------------------------------------------------
Moody's Investor Service changed Gemini HDPE, LLC's rating outlook
to negative from stable and affirmed the Ba2 rating on its senior
secured term loan.

RATINGS RATIONALE

Gemini's negative outlook considers the recent credit deterioration
at Sasol Limited's (Sasol, Baa2 negative) and Sasol Financing Pty's
(Sasol Financing, not rated). Sasol Limited owns Sasol Financing,
which is a major credit party for Gemini. For example, Sasol
Financing guarantees 50% of the debt during construction and during
operations, Sasol Financing is the guarantor under one of two
Tolling Agreements, which obligates a Sasol affiliate to pay for
50% of the project costs including debt service. To the extent
Sasol's credit quality drops further, the weighted average
off-taker quality would decline, which would likely lead to a
rating downgrade at Gemini. We also recognize that Gemini has
incurred some construction challenges. However, lenders remain
protected by the sponsor provided several but not joint debt
guarantees during construction, which highlight the importance of
sponsor credit quality.

The affirmation of Gemini's Ba2 rating considers INEOS Group
Holdings S.A.'s (INEOS: B1 stable) and Sasol Financing obligations
under the terms of the Completion Agreements and Tolling Agreements
that effectively transfers construction and operational risks to
INEOS and Sasol Financing on a several but not joint basis. Sasol's
investment grade credit quality, Gemini's fit within Sasol's larger
strategic plans in the US Gulf Coast, and INEOS's extensive
industry experience as a global chemicals manufacturer are key
supportive factors. However, the rating also considers INEOS's B1
rating and INEOS' deep involvement in the project as operator,
technology provider, and Gemini's location within INEOS's
manufacturing complex. Other weaknesses include refinancing risk
for approximately 50% of the debt and the lack of reserves,
including a debt service reserve.

Gemini is unlikely to be upgraded given the negative outlook.
However, Gemini's outlook could stabilize if Sasol's credit quality
stabilizes at its current rating or if INEOS's credit quality
significantly improves.

Given Gemini's strong credit linkage to Sasol and Ineos, a
downgrade of Gemini's rating is likely if either Sasol or Ineos's
credit quality deteriorates. The project's rating could also
decline if either counterparty defaults on its contractual
obligations, Gemini experiences substantial construction delays
and/or budget overruns or if the project incurs extensive operating
problems.

Gemini HDPE LLC (Gemini) is a high-density polyethylene (HDPE)
manufacturing plant currently under construction within INEOS
Battleground Manufacturing Complex (BMC) located in La Porte,
Texas. Upon construction completion, the project will be capable of
producing approximately 1 billion pounds of HDPE per year using
INEOS' licensed proprietary Innovene-S process. The project will be
able to produce a range of HDPE products and will use ethylene as
the feedstock and 1-hexene as the catalyst. INEOS and Sasol each
indirectly own 50% of Gemini.


GT ADVANCED: Disclosure Statement Approved Over Objections
----------------------------------------------------------
GT Advanced Technologies, Inc., and its debtor-affiliates cleared
hurdles to the approval of the disclosure statement explaining
their joint plan of reorganization and scheduled a March 3, 2016
for confirmation of their bankruptcy-exit plan.

The Debtors pointed out that neither the Creditors' Committee, nor
the DIP Lenders, nor the Consenting Parties, nor any governmental
entity (other than the U.S. Trustee) filed any objections to the
approval of the Disclosure Statement.

Only a handful of parties have filed objections to the Disclosure
Statement or joinders to such objections.  The objecting parties
were Midland Precision Machining, Inc., Lapmaster International,
LLC, Liquidity Solutions, Inc., U.S. Trustee, Securities
Plaintiffs, Kamron Mofrad, Lapmaster, DCM Tech Corporation.

The Objections raise various arguments regarding the adequacy of
the information contained in the Disclosure Statement, including as
it relates to the Plan's release provisions, the Valuation
Analysis, the Liquidation Analysis, and the details of the Debtors'
assets.  In each instance, the Debtors said, the Objections seek
information that:

     (a) the Debtors are not required to disclose under section
         1125 of the or any other provision of the Bankruptcy
         Code,

     (b) has already been adequately disclosed in the Disclosure
         Statement or elsewhere, or

     (c) will be disclosed prior to the deadline for voting on
         the Plan.

According to the Debtors, in some instances, the objectors' hidden
agenda is to extract a release from the estates for preference
exposure they have.  The Court should be mindful of not allowing
the disclosure statement process to be hijacked by creditors
pursuing a purely parochial interest, the Debtors aver.

Where appropriate, the Debtors have revised the Disclosure
Statement to address the concerns raised in the Objections.  The
Debtors on Jan. 20 submitted a revised Disclosure Statement and the
revised Plan contemporaneously with their omnibus reply to the
objections.

The Debtors also pointed out that some of the Objections raise
arguments directed not toward the adequacy of the Disclosure
Statement, but rather to the underlying merits of the Plan and
whether it is confirmable. None of these arguments come close to
demonstrating that the Plan is patently unconfirmable. Accordingly,
these arguments need not and should not be addressed at the
Disclosure Statement stage, but should instead be deferred until
the confirmation hearing.

Midland Precision Machining, Inc., asserts that the Plan fails to
comply with section 1123(a)(4) of the Bankruptcy Code, because not
all holders of Class 4C Claims (General Unsecured Claims against
the Corp Debtors) are receiving the same treatment under the Plan.


The Debtors pointed out that all creditors in Class 4C are
receiving the same treatment on account of their Class 4C Claims,
namely a pro rata share of (i) 62% of the Reorganized Common Stock
Pool, subject to the Cashing-Out Programs, (ii) the Corp Debtors
Excess Proceeds Pool, and (iii) 71.1% of the beneficial interests
in the Litigation Trust.

The U.S. Trustee objects to the releases contained in Article XIV
of the Plan.  

According to the Debtors, objections to release and exculpation
provisions are not appropriate for resolution at the Disclosure
Statement stage as they do not concern the adequacy of disclosures;
instead, they should be deferred to the confirmation hearing.

                Revisions to Disclosure Statement

The Debtors on Jan. 20 submitted a revised Disclosure Statement
together with their omnibus response to the objections.  On Jan. 27
the Debtors submitted further revisions to the Disclosure
Statement.  On Feb. 1, the Debtors amended the Plan outline to
correct typographical errors.  A blacklined version of the
Disclosure Statement dated Feb. 1, 2016, is available at

         http://bankrupt.com/misc/GTAT_3001_Am_DS_BL.pdf

                         March 3 Hearing

Judge Henry J. Boroff on Feb. 2, 2016, approved the disclosure
statement explaining GT Advanced Technologies, Inc., et al.'s joint
plan of reorganization and scheduled the hearing to consider
confirmation of the plan for March 3, 2016, at 10:00 a.m.
(prevailing Eastern Time).

The voting record date is Feb. 1, 2016.  To be counted as a vote,
all Ballots must be received by no later than Feb. 26.  Objections
or responses to confirmation of the Plan must be received no later
than Feb. 26.  The Debtors may file and serve replies to the
objections and a memorandum in support of confirmation of the Plan
on or before Feb. 29.  A copy of the Disclosure Statement Order is
available for free at:

     http://bankrupt.com/misc/GTAT_3006_DS_Order.pdf

                          Terms of Plan

The Debtors submitted a Plan of Reorganization following extensive
negotiations with certain of their key stakeholders.

In connection with the Plan, certain of the DIP Lenders in the
Chapter 11 Cases, as well as holders of large prepetition claims
against GT Hong Kong, the Corp Debtors, and GT Inc. -- Financing
Support Parties -- have committed $80 million of exit financing
that will fund, in part, the Debtors' obligations under the Plan.
The Official Committee of Unsecured Creditors and holders of claims
arising under the GT Inc. Notes -- Consenting Parties -- support
the Plan.

The Financing Support Parties include one or more affiliates of or
funds managed by WBox 2014-3 Ltd., Jefferies LLC, QPB Holdings
Ltd., Wolverine Flagship Fund Trading Limited, Privet Fund
Management LLC, Citigroup Financial Products Inc., Caspian Capital
LP, Corre Partners Management LLC, and Empyrean Capital Partners,
LP.

The Consenting Parties include AQR Capital Management, LLC,
Aristeia Capital, L.L.C., CNH Partners, LLC, Latigo Partners, LP,
New Generation Advisors, LLC, Pine River Capital Management, L.P.,
and their respective permitted assignees.

The Plan and the distributions contemplated thereby are premised on
a global settlement of numerous inter-Debtor, Debtor-creditor, and
inter-creditor issues, including substantive consolidation, the
allocation of Reorganized Common Stock and other value to be
distributed to creditors under the Plan, treatment of the Debtors'
tax attributes, and other issues affecting the Debtors and their
creditors.

The Plan not only keeps the Debtors operating as a going concern
but also provides for the distribution to holders of Allowed
General Unsecured Claims of a portion of the Reorganized Debtors'
equity or Cash (in lieu of such equity) that is not being
distributed to the Financing Support Parties.  In addition, the
Plan also establishes a Litigation Trust that may generate Cash for
distribution for holders of Allowed General Unsecured Claims in
accordance with the procedures and methodologies set forth in the
Litigation Trust Agreement.

Under the Plan, holders of Allowed Administrative Expense Claims,
Allowed Priority Tax Claims, Allowed Priority Non-Tax Claims, and
Allowed Secured Tax Claims, will be paid in full in Cash unless
such holders agree to less favorable treatment, and holders of
Allowed Other Secured Claims, at the option of the applicable
Debtor, will either be reinstated, paid in full in Cash, or the
holders of such Allowed Other Secured Claims will receive the
collateral securing such Allowed Other Secured Claim.

Holders of DIP Facility Claims will receive (i) Cash in an amount
of such Allowed DIP Facility Claim; (ii) the DIP Warrants; (iii)
the DIP Amendment Fee, and (iv) the DIP Prepayment Fee. Any holder
of a DIP Facility Claim or and Administrative Expense Claim that is
also a Financing Support Party may, at its option, elect to
exchange, on a dollar-for-dollar basis, some or all of such Claims
to participate in the Exit Financing based upon and solely up to
its respective Exit Financing Commitment Amount, which exchanged
amount shall be in lieu of the cash distribution to which it would
otherwise be entitled.

In accordance with the Plan, (a) holders of Allowed GT Inc. Notes
Claims in Class 4A will receive (i) Reorganized Common Stock
(subject to the Cashing-Out Programs), (ii) a portion of the Excess
Proceeds, if any; (iii) a beneficial interest in the Litigation
Trust, and (iv) the Noteholder Warrants, and (b) holders of Allowed
General Unsecured Claims in Classes 4C and 4D will receive (i)
Reorganized Common Stock (subject to the Cashing-Out Programs),
(ii) a portion of the Excess Proceeds, if any, and (iii) a
beneficial interest in the Litigation Trust.

Upon the Effective Date of the Plan, the Reorganized Debtors'
capital structure will consist of (a) the Senior Secured Notes in
the amount of $60 million, (b) shares of Preferred Stock, which
will represent 86% of the ownership of the common stock in
Reorganized GT Inc. on an as-converted basis (subject to dilution),
and (c) shares of Reorganized Common Stock.  Reorganized GT Inc.
will issue the Preferred Stock to the Financing Support Parties in
exchange for $20 million.

Reorganized GT Inc. will also issue shares of Reorganized Common
Stock to holders of Allowed General Unsecured Claims in Class 4A,
Class 4C, and Class 4D, subject to dilution and the Cashing-Out
Programs, which will represent 14% of the equity in Reorganized GT
Inc.

In accordance with the Plan, (a) holders of Allowed GT Inc. Notes
Claims in Class 4A will receive their pro rata share of (i) 21.6%
of the Reorganized Common Stock Pool, (ii) 12.5% of the Excess
Proceeds, if any, (iii) a 12.5% beneficial interest in the
Litigation Trust, and (iv) the Noteholder Warrants; (b) holders of
Allowed Corp. Debtors General Unsecured Claims will receive their
pro rata share of (i) 62.0% of the Reorganized Common Stock Pool,
(ii) 71.1% of the Excess Proceeds, if any, and (iii) a 71.1%
beneficial interest in the Litigation Trust; and (c) holders of
Allowed GT Hong Kong General Unsecured Claims will receive their
pro rata share of (i) 16.4% of the Reorganized Common Stock Pool,
(ii) 16.4% of Excess Proceeds, if any, and (iii) a 16.4% beneficial
interest in the Litigation Trust.

                        About GT Advanced

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

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

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

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

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

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

The Debtors tapped Paul Hastings LLP as general bankruptcy
counsel;
Nixon Peabody LLP as local New Hampshire counsel; Quinn Emanuel
Urquhart & Sullivan, LLP, as special counsel to GT SPE; Alvarez &
Marsal North America, LLC as restructuring advisor; Rothschild
Inc.; as financial advisor and investment banker; Ropes & Gray LLP
as corporate counsel and conflicts counsel; PricewaterhouseCoopers
LLP as accountant and tax advisor; StoneTurn Group, LLP, through
Ropes & Gray, as accountants; Hilco Valuation Services, LLC, as
appraiser and valuation consultant; and Kurtzman Carson
Consultants
LLC as claims and noticing agent.

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

                           *     *     *

In October 2014, GTAT reached a settlement with Apple.  The
settlement gives Apple an approved claim for $439 million secured
by more than 2,000 sapphire furnaces that GT Advanced owns and has
four years to sell, with proceeds going to Apple.  In addition,
Apple gets royalty-free, non-exclusive licenses for GTAT's
technology.

Pursuant to the settlement approved in December 2014, GTAT was
obligated to turn over the Mesa Facility to Apple in "broom clean"
condition by December 31, 2015, other than certain designated
storage space for the ASF Furnaces. However, as of November 2,
2015, GTAT had not sold any of the more than 2,000 ASF Furnaces
located in the Mesa Facility.  Accordingly, in December 2015, GTAT
obtained approval of a revised settlement with Apple, which
provides for the sale of ASF Furnaces pursuant to agreed auction
procedures.


HAGGEN HOLDINGS: Hires RGP as Consultants on Claims Reconciliation
------------------------------------------------------------------
Haggen Holdings LLC, et al., sought and obtained Bankruptcy Court
permission to employ Resources Connection LLC, dba Resources Global
Professionals (RGP), as consultants nunc pro tunc to Dec. 28, 2015
in connection with the claims reconciliation process in their
Chapter 11 cases.

RGP has agreed to render these services:

  (a) Review and evaluate claims to determine their validity;

  (b) Match claims to scheduled liabilities;

  (c) Research disputed claims; and

  (d) Provide litigation support in litigated claims disputes.

The Debtors will pay for RGP's services. The hourly rates for RGP
professionals are:

         Thora Thoroddsen       $375
         Donald Yafee           $165
         Yolanda Hoelscher      $165
         Add'l. Professionals   $165

RGP will also seek reimbursement for reasonable necessary expenses
incurred.

Thora Thoroddsen, a senior managing director of RGP, assures the
Court that her firm is a "disinterested person" within the meaning
of Section 101(14) of the Bankruptcy Code, and does not hold or
represent an interest materially adverse to the Debtors' estates.

                     About Haggen Holdings

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

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

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

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

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

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

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


HALCON RESOURCES: Goldman Sachs Holds 6% Stake as of Dec. 31
------------------------------------------------------------
Goldman Sachs Asset Management disclosed in a Schedule 13G filed
with the Securities and Exchange Commisssion that as of Dec. 31,
2015, it beneficially owns 7,237,117 shares of common stock of
Halcon Resources Corporation representing 6 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/0OrmUz

                      About Halcon Resources

Halcon Resources Corporation acquires, produces, explores and
develops onshore liquids-rich assets in the United States.  This
independent energy company operates in the Bakken/Three Forks, El
Halcon and Tuscaloosa Marine Shale formations.

As of Sept. 30, 2015, the Company had $4.25 billion in total
assets, $3.62 billion in total liabilities, $156 million in
redeemable noncontrolling interest and $473 million in total
stockholders' equity.

                           *     *      *

As reported by the TCR on Jan. 27, 2015, Moody's Investors Service
downgraded Halcon's Corporate Family Rating to 'Caa1' from 'B3' and
the Probability of Default Rating to 'Caa1-PD' from 'B3-PD'.  The
downgrade reflects growing risk for Halcon's business profile
because of high financial leverage and limited liquidity as its
existing hedges roll-off and stop contributing to its borrowing
base over the next 12-18 months.

In September 2015, Standard & Poor's Ratings Services lowered its
corporate credit rating on Oklahoma City-based Halcon Resource
Corp. to 'SD' (selective default) from 'B-'.  "The downgrade
follows Halcon's announcement that it reached an agreement with
holders of portions of its senior unsecured notes to exchange the
notes for new senior secured third-lien notes," said Standard &
Poor's credit analyst Ben Tsocanos.


HOPE ACADEMY: Fitch Lowers Rating on $8.6MM 2011 Bonds to 'B'
-------------------------------------------------------------
Fitch Ratings has downgraded the rating on approximately
$8.6 million of public school academy limited obligation revenue
bonds, series 2011, issued by the Michigan Finance Authority on
behalf of Hope Academy to 'B' from 'BB-'.

The Rating Outlook is Negative.

                               SECURITY

Pledged revenues consist of up to 20% of state allocated per-pupil
foundation allowance (PPFA), and all other legally available,
unrestricted funds.  The trustee intercepts the pledged revenues
from the state of Michigan monthly for bond debt service, prior to
remitting excess funds to Hope.  In addition to the intercept,
bondholders benefit from a property mortgage and a cash-funded debt
service reserve equal to maximum annual debt service (MADS). There
is an annual debt service coverage (DSC) covenant of at least 1.1x.


                       KEY RATING DRIVERS

MULTIPLE FACTORS DRIVE DOWNGRADE: Hope's negative fiscal 2015
operating performance, in conjunction with two years of enrollment
declines, weak balance sheet, high debt burden, and weak academic
ranking, all drive the rating downgrade.

WEAK BALANCE SHEET: Hope's balance sheet provides limited
flexibility to manage operating or enrollment fluctuations.  Fiscal
2015 available funds ratios, as calculated by Fitch, were only 1.6%
of operating expenses and 1.1% of debt.

LOW ACADEMIC PERFORMANCE: Hope has demonstrated low academic
performance in recent years.  State-wide academic rankings are
frozen for the current 2015/2016 academic year due to adoption of
Common Core standards, and as such Hope remains a state-designated
'Priority School'.  This is the weakest academic ranking relative
to all Michigan schools.  Hope's charter authorizer does report
academic improvement.

ENROLLMENT AND POPULATION DECLINES: Enrollment fell 15% in fall
2015 and 13% in fall 2014.  Hope had previously realized several
years of growth.  The recent enrollment trend is partly due to
Detroit area population losses and resulting higher competition.  
DSC NOT ACHIEVED: Hope did not meet fiscal 2015 MADS coverage per
Fitch calculations (0.9x on a consolidated basis).  Previously,
Fitch calculated coverage had met or slightly exceeded DSC of 1.1x
in six out of the last seven fiscal years.  Operations remain
highly stressed due to further enrollment declines in fiscal 2016.


                        RATING SENSITIVITIES

ACADEMIC PERFORMANCE: Failure of Hope Academy (MI) to improve
academic performance and receive a charter renewal in 2016 would
cause another rating downgrade.

ENROLLMENT AND FINANCIAL PERFORMANCE: Failure to reverse enrollment
losses, strengthen operating performance, and achieve debt service
coverage and bond covenant compliance would result in another
downgrade.

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

                          CREDIT PROFILE

Hope Academy is a K-8 charter school located near the historic
district of Detroit, MI (the city), and serves students living in
the city and surrounding suburbs.  Hope has operated since 1998,
having received three five-year charters, with the most recent
renewal a three-year charter through June 2016.  The shorter
charter term was due partly to poor academic performance.  Most
students qualify for free or reduced lunch assistance, and about
10% receive special education services.

A separate alternative high school shared both Hope's facility and
its charter authorization for only the 2012/2013 academic year;
that arrangement has ended.

                       ENROLLMENT PRESSURES

Hope operates in a former public school building with capacity of
about 700 students, which the charter authorizer characterizes as
attractive and well maintained.  Enrollment declines are a
significant concern.  Enrollment for fall 2015 declined 15% to 520
students, following a 13% decline in fall 2014 to 615.  This
followed six years of enrollment growth, from 441 students in fall
2017 to 705 in fall 2013.

Management reports that lower enrollment is due to population
declines in the Detroit metro area, which has an excess of both
public and charter school seats.  Additionally, management reports
that area demographics are changing, with fewer families with
school-aged children.  Hope does not provide student
transportation, which can be a competitive issue.  Management
adjusted its fiscal 2016 budget to reflect actual enrollment,
including several lay-offs.

                         MANAGEMENT CHANGES

Hope made significant management changes to lower expenses in
fiscal 2015, continuing into fiscal 2016.  These include changing
to a management-company structure with BFDI Educational Services
(BES) as manager and employer of all staff, hiring a new school
leader, cutting expenses, and laying off some non-teaching staff to
focus on academics.  Effective fiscal 2015, Hope/BES employees are
no longer part of the state retirement system.  Hope's board
composition remains stable with five members.

A new school superintendent started in the 2014/2015 academic year,
and an acting principal position was made permanent in 2015/2016.
The school has an active working relationship with its authorizer,
Eastern Michigan University (EMU).

                         CHARTER RENEWAL

EMU, Hope's authorizer, noted that academic performance is weighted
heavily (as much as 60%) by renewal considerations.  EMU renewed
Hope's charter in 2013, for a three-year period instead of the
standard (and former) five-year period.  This change was due in
part to Hope's academic performance.  Fitch views Hope's charter
renewal risk as heightened; however, the authorizer indicates
academic progress.

                    WEAK OPERATING PERFORMANCE

Audited fiscal 2015 results were weaker than recent years at
negative $316,000 (negative 5.6% margin); operations reflected a
13% enrollment decline.  This compared to fiscal 2014 results which
were close to break-even at negative 0.2%.  Hope's GAAP operating
margin tends to fluctuate; on a full accrual basis between fiscal
2008 and 2014 it has been modestly negative in four out of the last
seven years.

For the current fiscal 2016 budget year, management reports
operations remain very tight, but are on track for balanced results
and achieving the covenanted 1.1x coverage.  However, weakening
operating performance due to enrollment declines drives Fitch's
downgrade to 'B'.  Failure in fiscal 2016 to improve operations in
general and meet coverage covenants would trigger further negative
rating actions by Fitch.  Hope's weak balance sheet reserves
further limit the school's ability to absorb significant enrollment
or state funding fluctuations.

Fitch measures debt service coverage on a consolidated basis (which
appears to be different from bond covenants).  Hope achieved at
least 1.0x current coverage in all but two of the last seven years
in Fitch's analysis.  However, fiscal 2015 MADS coverage (which is
the same as transactional MADS coverage due to level debt service)
was only 0.9x.  In contrast, fiscal 2014 MADS coverage was 1.3x,
and fiscal 2013 coverage was 1.5x.

Management reports that it met fiscal 2015 coverage covenants,
which it measures using only general fund operations.  The school's
2015 audit is silent regarding meeting - or not meeting - bond
covenants.  However, the weak fiscal 2015 MADS coverage calculated
by Fitch indicates strained operating results.  Given further
enrollment declines in fall 2015, Fitch does not expect significant
improvement in fiscal 2016.  Hope has no new debt capacity at this
time; management reports no debt plans.

                        WEAK BALANCE SHEET

Hope has a weak balance sheet relative to the rating category.
Available funds (AF) is defined as cash and investments not
permanently restricted.  For fiscal 2015, this was $81,000, only
1.6% of annual operating expenses ($5.7 million) and 1.1% of
outstanding debt ($8.6 million).  Fitch's AF calculation does not
reflect $3.5 million of non-cash accounting adjustments for GASB 68
pension liabilities.

The school has a 2016 state aid note for $950,000 (the same amount
as in 2015 and in 2014) to smooth cash-flow during the academic
year.  The note is secured by state per-pupil funding and was about
16% of fiscal 2015 revenue.  Hope reports that state payments are
consistently made on time.

                       ACADEMIC PERFORMANCE

In recent years Hope has failed to achieve state academic targets.
In both fiscal 2013 and 2014, and continuing into 2015, the state
classified Hope as a 'Priority School', an under-performing
institution with academic achievement among the lowest 5% of all
Michigan schools.  State-wide, academic classifications were frozen
in the 2015/2015 academic year due to transition to new common core
testing.  As such, Hope's academic classification did not change
for the current 2015/2016 academic year.  However, EMU, the
authorizer, reports academic progress.

Hope is in the second of a three-year, state-mandated, academic
plan.  Like other schools in Michigan and many in the U.S.,
academic year 2014/2015 testing results are not yet available, and
are not comparable to prior testing results.  Michigan adopted a
hybrid of its previous achievement test with some Common Core
components, first administered in the spring of 2015.


HORSEHEAD HOLDING: $90M DIP Gets Interim Approval After Rework
--------------------------------------------------------------
Jeff Montgomery at Bankruptcy Law360 reported that Horsehead
Holding Corp. scrambled to redraft key terms for a $90 million
debtor-in-possession loan late Fab. 3, 2016, after a Delaware
bankruptcy judge flagged the original deal for piling too much of
the debt guarantee on a Canadian subsidiary, though she eventually
gave her preliminary blessing to reworked package.

U.S. Bankruptcy Judge Mary F. Walrath pressed the issue after
Horsehead attorney Ryan Preston Dahl of Kirkland & Ellis LLP said
three Horsehead directors sit on Ontario-based Zochem Inc.'s board,
with only one independent Canadian seat.

                     About Horsehead Holding

Horsehead Holding Corp., Horsehead Corporation, Horsehead Metal
Products, LLC, The International Metals Reclamation Company, LLC,
and Zochem Inc. filed Chapter 11 bankruptcy petitions (Bankr. D.
Del. Case Nos. 16-10287 to 16-10291) on Feb. 2, 2016.  The petition
was signed by Robert D. Scherich as vice president and chief
financial officer.  Judge Christopher S. Sontchi is assigned to the
case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Pachulski Stang Ziehl & Jones LLP as local counsel, RAS Management
Advisors, LLC as financial advisor, Lazard Middle Market LLC as
investment banker, Epiq Bankruptcy Solutions, LLC as claims and
noticing agent and Aird & Berlis LLP as Canadian counsel.

The Debtors currently employ approximately 730 full-time
individuals.

The Debtors disclosed total assets of $1 billion and total
liabilities of $544.6 million.  As of the Petition Date, the
Debtors' consolidated long-term debt obligations totaled
approximately $420.7 million.


HORSEHEAD HOLDING: Meeting of Creditors Set for March 11
--------------------------------------------------------
The meeting of creditors of Horsehead Holding Corp. is set to be
held on March 11, 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, in Wilmington, Delaware.

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

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

                       About Horsehead Holding

Horsehead Holding Corp. is the parent company of Horsehead
Corporation, a U.S. producer of specialty zinc and zinc-based
products and a leading recycler of electric arc furnace dust; The
International Metals Reclamation Company, LLC ("INMETCO"), a
leading recycler of metals-bearing wastes and a leading processor
of nickel-cadmium (NiCd) batteries in North America; and Zochem
Inc., a zinc oxide producer located in Brampton, Ontario.
Horsehead, headquartered in Pittsburgh, Pa., has seven facilities
throughout the U.S. and Canada.  The Debtors currently employ
approximately 730 full-time individuals.

Horsehead Holding Corp., Horsehead Corporation, Horsehead Metal
Products, LLC, The International Metals Reclamation Company, LLC,
and Zochem Inc. filed Chapter 11 bankruptcy petitions (Bankr. D.
Del. Case Nos. 16-10287 to 16-10291) on Feb. 2, 2016.  The petition
was signed by Robert D. Scherich as vice president and chief
financial officer.  Judge Christopher S. Sontchi is assigned to the
case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Pachulski Stang Ziehl & Jones LLP as local counsel, RAS Management
Advisors, LLC as financial advisor, Lazard Middle Market LLC as
investment banker, Epiq Bankruptcy Solutions, LLC as claims and
noticing agent and Aird & Berlis LLP as Canadian counsel.

The Debtors disclosed total assets of $1 billion and total
liabilities of $544.6 million.  As of the Petition Date, the
Debtors' consolidated long-term debt obligations totaled
approximately $420.7 million.


IGPS COMPANY: Trustee's Suit Against Former Officers Remanded
-------------------------------------------------------------
Plaintiff Peter Kravitz filed a motion to remand a case involving
allegations of breach of fiduciary duty and gross negligence in the
management of startup pallet leasing company Pallet Company LLC.

The Plaintiff, the Company's liquidation trustee, initiated the
suit in state court against 13 of the Company's former managers and
officers seeking, inter alia, damages for losses in excess of $300
million and disgorgement of the Defendants' managerial
compensation.  Eight of the Defendants ("Removal Defendants")
removed the action on grounds of bankruptcy-related jurisdiction
and diversity jurisdiction.  The Plaintiff moves for remand.  All
but one Defendant oppose the Remand Motion and request that the
venue of the case be transferred to United States District Court
for the District of Delaware so they may ultimately seek referral
to the Delaware Bankruptcy Court, where the Company formerly
initiated bankruptcy proceedings.  The Plaintiff opposes the
Transfer Motion.

In an Order dated January 25, 2016, which is available at
http://is.gd/ztbUHbfrom Leagle.com, Judge Roy B. Dalton, Jr., of
the United States District Court for the Middle District of
Florida, Orlando Division, granted the Plaintiff's Remand Motion,
holding that the removal of the Defendants is improper as it is in
clear violation of the forum defendant rule as the Plaintiff
initiated the action in the Ninth Judicial Circuit in and for
Orange County, Florida, and four of the Defendants are Florida
citizens.  Unanimous consent to removal is also lacking as only
eight of the thirteen Defendants joined in removal, Judge Dalton
held.

The case is PETER KRAVITZ, Plaintiff, v. AL FARRELL; BOBBY L.
MOORE; BEN STOLLER; PHIL BERNEY; CHRIS COLLINS; DAVID CUNNINGHAM;
STEVE DUTTON; JOHN FLETCHER; GREG GISH; CARLOS GUTIERREZ; JOE
MONTANA; TERRY TAMMINEN; and RICHARD WEINBERG, Defendants, Case No.
6:15-cv-1108-Orl-37KRS (M.D. Fla.).

Peter Kravitz, Plaintiff, is represented by Monica L. Irel, Esq. --
monica.irel@dentons.com -- Dentons US LLP,John Benjamin King, Esq.
-- bking@rctlegal.com -- Reid Collins & Tsai, LLP, Jordan L.
Vimont, Esq. -- jvimont@rctlegal.com -- Reid Collins & Tsai, LLP &
P. Jason Collins, Esq. -- jcollins@rctlegal.com -- Reid Collins &
Tsai, LLP.

Defendants are represented by Arthur Halsey Rice, Esq. --
arice@rprslaw.com -- Rice, Pugatch, Robinson & Schiller, PA &
Ronald J. Lewittes, Esq. -- rlewittes@rprslaw.com -- Rice, Pugatch,
Robinson & Schiller, PA.,Daniel J. Kaiser, Esq. --
kaiser@ksmlaw.com -- Kaiser Saurborn & Mair, PC, Scott A.
Livingston, Esq. -- Livingston Law Group, PLLC, David A. Coulson,
Esq. -- coulsond@gtlaw.com -- Greenberg Traurig, LLP, Dawn Ivy
Giebler-Millner, Esq. --  
millnerd@gtlaw.com -- Greenberg Traurig, LLP,Roxanne Tizravesh,
Esq. -- rtizravesh@akingump.com -- Akin, Gump, Strauss, Hauer &
Feld, LLP, Stephen M. Baldini, Esq. -- sbaldini@akingump.com --
Akin, Gump, Strauss, Hauer & Feld, LLP, Jeffrey Clark Schneider,
Esq. -- JCS@lklsg.com -- Levine, Kellogg, Lehman, Schneider &
Grossman, LLP, Leon N. Patricios, Zumpano, Esq. -- Patricios &
Winker, PA, Matthew McGuane, Esq. -- mjm@lklsg.com -- Levine
Kellogg Lehman Schneider & Grossman LLP,

                          About iGPS Co.

iGPS Company LLC filed a Chapter 11 bankruptcy petition (Bankr. D.
Del. Case No. 13-11459) on June 4, 2013, to sell its assets to a
group led by Balmoral Funds LLC, absent higher and better offers.

iGPS Company -- http://www.igps.net-- is the first and only  
plastic pallet pooling rental and leasing company in the U.S. It
offers plastic pallets with embedded radio frequency
identification (RFID) tags.  Founded in 2006, the company is
headquartered in Orlando, Florida, and has a sales and innovation
center in Bentonville, Arkansas.

The Debtor estimated $100 million to $500 million in assets and
liabilities in its Chapter 11 petition.

According to the board resolution authorizing the bankruptcy,
Pegasus IGPS LLC owns 12.55% of the company; iGPS Co-Investment
LLC owns 18.75%; Kia VIII (iGPS Sub), LLC owns 30.74%; and KIA
VIII iGPS Blocker, LLC, owns 12.27%.

John H. Strock, Esq., and L. John Bird, Esq., at Fox Rothschild
LLP, in Wilmington, Delaware; and John K. Cunningham, Esq.,
Richard S. Kebrdle, Esq., Kevin M. McGill, Esq., Fan B. He, Esq.,
at White & Case LLP, in Miami, Florida, also represent the Debtor.

The Plan filed in the Debtor's case proposes to transfer to a
liquidation trust all of the remaining assets of the Debtor.
Under the Plan, Priority Claims (Class 1) and Non-Lender Secured
Claims (Class 2) are unimpaired and will recover 100% of the
allowed claim amount.  Unsecured Claims (Class 3) are impaired and
will receive its pro rata share of the available proceeds.  Equity
Interests (Class 4) are also impaired and will be canceled on the
effective date.

The Official Committee of Unsecured Creditors is represented by
the law firm of McKenna Long & Aldridge LLP, as its counsel, and
Cole, Schotz, Meisel, Forman & Leonard, P.A., as its Delaware
counsel.  The Committee tapped to retain Emerald Capital Advisors
as its financial advisors.

iGPS received court approval in July to sell the business largely
in exchange for secured debt and filed the liquidating plan based
on a settlement negotiated between the lenders and the unsecured
creditors' committee.

iGPS Logistics LLC, an entity established by the lenders, bought
the business for $2.5 million cash and a commitment to pay all
priority tax claims and claims by workers fired without required
notice.  The lenders agreed to waive their claims.  The buyers are
Balmoral Funds LLC, One Equity Partners LLC, and Jeff and Robert
Liebesman. They purchased the $148.8 million working-capital loan
shortly before bankruptcy.

In September 2013, the Court authorized the Debtor to change its
name to "Pallet Company LLC."

The Debtor's Second Amended Chapter 11 Plan, which was co-proposed
by the Official Committee of Unsecured Creditors, was confirmed on
Nov. 14, 2013, and declared effective Nov. 27, 2013.  Creditors
were projected to recoup 28% to 35% on $13.8 million in unsecured
claims.


IMMUNICON CORP: Trustee's Appeal Goes to 3rd Cir.
-------------------------------------------------
On June 11, 2008, IMMC Corporation f/k/a Immunicon Corporation
filed a petition for relief under Chapter 11 of the Bankruptcy
Code.  On November 7, 2008, the Bankruptcy Court confirmed the
debtors' plan of liquidation.  Pursuant to the plan, Robert F.
Troisio was appointed as liquidating trustee to implement wind-down
of the debtors' affairs and liquidation of the debtors' property,
and also to pursue certain causes of action.  On September 18,
2010, the Liquidating Trustee filed a complaint initiating an
adversary proceeding asserting breach of fiduciary duty claims
against the debtors' former officers and directors.

By Memorandum Order dated December 29, 2011, the Bankruptcy Court
determined that it was without jurisdiction to decide the claims
asserted in the adversary proceeding but scheduled a further
hearing to consider Appellant's request that the Bankruptcy Court
transfer the adversary proceeding to the District Court for the
Eastern District of Pennsylvania, pursuant to 28 U.S.C. Section
1631, rather than dismiss the case for want of jurisdiction.

Following briefing and oral argument, the Bankruptcy Court denied
the request to transfer the adversary proceeding to the E.D.Pa.
Court.  On February 19, 2015, the Trustee filed with the Bankruptcy
Court a renewed motion to transfer the adversary proceeding to the
E.D.Pa. Court, which cited In re DMW Marine, LLC, 509 B.R. 497
(Bankr. E.D. Pa. 2014) in support.  Following oral argument, the
Bankruptcy Court denied the renewed motion and dismissed the
complaint, finding that neither of the decisions cited by Appellant
addressed the transfer issue and that the Bankruptcy Court
"remain[ed] convinced that the express language and legislative
history of Section 610 support the proposition that Congress did
not intend to include bankruptcy courts in the definition of
`courts.'"

On November 11, 2015, the Liquidating Trustee filed a notice of
appeal of the 2012 Decision and the 2015 Decision.  On the same
day, the Liquidating Trustee filed a Certification Motion seeking
certification of HIS appeal directly to the United States Court of
Appeals for the Third Circuit, arguing that the question presented
is "Whether bankruptcy judges have the authority to order a
transfer of an adversary proceeding pursuant to 28 U.S.C. Section
1631."

In a Memorandum Opinion dated January 26, 2016, which is available
at http://is.gd/ZMP4n3from Leagle.com, Judge Gregory M. Sleet of
the United States District Court for the District of Delaware
granted the Appellant's Certification Motion, concluding that the
appeal raises a question of law as to which there is no controlling
decision of the Third Circuit or of the Supreme Court, and thus
certification is required under 28 U.S.C. Section 158(d)(2)(A)(i).

The adversary proceeding is ROBERT F. TROISIO, as Liquidating
Trustee of IMMC CORPORATION, f/k/a IMMUNICON CORPORATION v. EDWARD
L. ERICKSON, BYRON HEWETT, LEON TERSTAPPEN, JAMES L. WILCOX,
ELIZABETH E. TALLETT, J. WILLIAM FREYTAG, ZOLA P. HOROWITZ, JAMES
G. MURPHY, BRIAN GEIGER, JONATHAN COOL, and ALLEN J. LAUER, Adv.
Proc. No. 10-53063 (BLS)(Bankr. D.Del.).

The district court proceeding is ROBERT F. TROISIO, as Liquidating
Trustee of IMMC CORPORATION, f/k/a IMMUNICON CORPORATION,
Appellant, v. EDWARD L. ERICKSON, BYRON HEWETT, LEON TERSTAPPEN,
JAMES L. WILCOX, ELIZABETH E. TALLETT, J. WILLIAM FREYTAG, ZOLA P.
HOROWITZ, JAMES G. MURPHY, BRIAN GEIGER, JONATHAN COOL, and ALLEN
J. LAUER, Appellees, Civ. No. 15-1043 (GMS)(D.Del.).

The bankruptcy case is IN RE: IMMC CORPORATION, f/k/a IMMUNICON
CORPORATION, et al., Chapter 11, Debtors, Bankr. Case No. 08-11178
(KJC)(Bankr. D. Del.).

Robert F. Troisio, Appellant, is represented by Jason C. Powell,
Esq. -- dferry@ferryjoseph.com -- Ferry, Joseph & Pearce, P.A.

                   About Immunicon Corporation

Headquartered in Huntington Valley, Pennsylvania, Immunicon
Corporation and its debtor-affiliates -- http://www.immunicon.com/

-- offers products and services for cell analysis and molecular
research.  The Debtors filed for Chapter 11 protection on June 11,
2008 (Bankr. D. Del. Lead Case No. 08-11178).  Sheldon K. Rennie,
Esq., at Fox Rothschild LLP, represents the Debtors in their
restructuring efforts.  When Immunicon Corp. filed for protection
from its creditors, it listed estimated assets of $9,231,264 and
estimated debts of $24,309,838.

The U.S. Bankruptcy Court for the District of Delaware confirmed
on Nov. 7, 2008, Immunicon Corp. and its debtor-affiliates' fourth
amended plan of liquidation under Chapter 11 of the Bankruptcy
Code, dated Oct. 13, 2008.  All objections, if any, to the extent
not withdrawn were overruled by the Court.

Classes 2, 3, and 4, which are the only Classes entitled to vote
on the Plan, have each accepted the Plan.

The fourth amended plan of liquidation became effective on
Nov. 17, 2008.  Robert F. Troisio has been appointed Liquidating
Trustee of the IMMC Liquidating Estate.


INTELLICELL BIOSCIENCES: YA Global Reports 9.99% Stake
------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, YA Global Master SPV, Ltd., Yorkville Advisors Global,
LP, Yorkville Advisors Global, LLC, Matthew Beckman disclosed that
as of Dec. 31, 2015, they beneficially own 313,596,831 shares of
common stock of Intellicell Biosciences representing 9.99 percent
of the shares outstanding.  A copy of the regulatory filing is
available for free at http://is.gd/Y4f3Or

                   About Intellicell Biosciences

Intellicell BioSciences, Inc., headquartered in New York, N.Y.,
was formed on Aug. 13, 2010, under the name "Regen Biosciences,
Inc." as a pioneering regenerative medicine company to develop and
commercialize regenerative medical technologies in large markets
with unmet clinical needs.  On Feb. 17, 2011, the company changed
its name from "Regen Biosciences, Inc." to "IntelliCell
BioSciences Inc".  To date, IntelliCell has developed proprietary
technologies that allow for the efficient and reproducible
separation of stromal vascular fraction (branded
"IntelliCell(TM)") containing adipose stem cells that can be
performed in tissue processing centers and in doctors' offices.

Intellicell Biosciences reported a net loss of $11.14 million on
$0 of total net revenues for the year ended Dec. 31, 2013, as
compared with a net loss of $4.15 million on $534,942 of total net
revenues during the prior year.

As of Sept. 30, 2014, the Company had $3.10 million in total
assets, $17.53 million in total liabilities and a $14.42 million
total stockholders' deficit.

"The Company has incurred losses since inception resulting in an
accumulated deficit of $61,164,954 and a working capital deficit
of $15,319,535 as of June 30, 2014, respectively.  Further losses
are anticipated in the continued development of its business,
raising substantial doubt about the Company's ability to continue
as a going concern.  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 a private placement of common stock or other debt or
equity securities.  There can be no assurance that we will be able
to obtain further financing, do so on reasonable terms, or do so
on terms that would not substantially dilute our current
stockholders' equity interests in us.  If we are unable to raise
additional funds on a timely basis, or at all, we probably will
not be able to continue as a going concern," the Company stated in
the Form 10-Q for the quarterly period ended June 30, 2014.


KDP BELLEFONTE: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: KDP Bellefonte, Inc.
           fdba Gamble Mill Restaurant & Microbrewery
         160 Dunlap Street
        Bellefonte, PA 16823

Case No.: 16-00543

Chapter 11 Petition Date: February 10, 2016

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Williamsport)

Judge: Hon. John J Thomas

Debtor's Counsel: Donald M Hahn, Esq.
                  STOVER MCGLAUGHLIN GERACE WEYANDT & MCCORMICK PC
                  122 East High Street
                  PO Box 209
                  Bellefonte, PA 16823
                  Tel: 814 355-8235
                  Fax: 814 355-1304
                  Email: dhahn@nittanylaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by David Fonash, president.

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


KINGOLD JEWELRY: NASDAQ Extends Listing Compliance Deadline
-----------------------------------------------------------
Kingold Jewelry, Inc. on Feb. 11 disclosed that the Listing
Qualifications Staff of The NASDAQ Stock Market LLC ("NASDAQ") has
granted the Company's request for an additional 180 calendar day
extension within which to evidence compliance with the $1.00 per
share minimum required for continued listing on The NASDAQ Capital
Market pursuant to NASDAQ Marketplace Rule 5550(a)(2) (the "Minimum
Bid Price Rule").

As previously reported, on August 11, 2015, the Company received a
notification letter (the "Notice") from NASDAQ advising the Company
that for 30 consecutive business days preceding the date of the
Notice, the bid price of the Company's common stock had closed
below the $1.00 per share minimum required for continued listing on
The NASDAQ Capital Market pursuant to the Minimum Bid Price Rule.
The Company was provided 180 calendar days, or until February 8,
2016, to regain compliance with the Minimum Bid Price Rule, and now
has been granted until August 8, 2016 to regain compliance.  The
NASDAQ determination to grant the second compliance period was
based on the Company meeting the continued listing requirement for
market value of publicly held shares and all other applicable
requirements for initial listing on The NASDAQ Capital Market, with
the exception of the bid price requirement, and the Company's
written notice of its intention to cure the deficiency during the
second compliance period by effecting a reverse stock split, if
necessary.

The Notice has no effect on the listing of the Company's common
stock at this time and the Company's common stock will continue to
trade on The NASDAQ Capital Market under the symbol "KGJI."

Kingold Jewelry, Inc. is engaged in designing and manufacturing
24-karat gold jewelry and Chinese ornaments, through a variable
interest entity relationship with Wuhan Kingold Jewelry Company
Limited (Wuhan Kingold).


LEHMAN BROTHERS: Defends $83M Swap Suit Against Barclays
--------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Lehman Brothers
Holdings defended on Feb. 4, 2016, in New York court an $83 million
lawsuit accusing Barclays Bank PLC of working with an investment
firm to manipulate an interest swap agreement, saying Barclays
seized upon on Lehman's 2008 bankruptcy to get a sweetheart deal on
a replacement swap.

The complaint involves Barclays, which purchased Lehman's brokerage
business following the investment bank's collapse, and real estate
investment company LCOR Alexandria LLC.  LBHI claims that LCOR,
with Barclays' assistance, made bogus calculations after canceling
the swap deal with subsidiary.

                     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.


LEHMAN BROTHERS: Sues Lenders Over Faulty Mortgage Sales
--------------------------------------------------------
Evan Weinberger at Bankruptcy Law360 reported that Lehman Brothers
Holdings Inc. on Feb. 3, 2016, sued nearly 60 mortgage originators
that it says sold it faulty mortgages that resulted in the failed
investment bank paying more than $1.2 billion in settlements with
Fannie Mae and Freddie Mac.

The adversary complaint Lehman's estate filed in the federal
bankruptcy court in New York is the latest in a string of lawsuits
it has filed seeking to enforce indemnification claims against
mortgage lenders.  The complaint filed on Feb. 3, 2016, alleges
that the lenders sold Lehman thousands of defective mortgage
loans.

                     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.


LENDINGCLUB CORP: Average Loan Performance "Within Expectations"
----------------------------------------------------------------
Noah Buhayar, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that LendingClub Corp. said it wants to clarify a
presentation from January that showed some loans it arranged had
soured more often than anticipated.

According to the report, internal models are meeting the company's
expectations for predicting average credit performance on its
standard three- and five-year loans, it said in a blog post on Feb.
7.  The post revised a chart released in January by the firm's LC
Advisors subsidiary, which had labeled two segments of three-year
loans as "underpriced" without specifying whether they had been
included in aggregate performance data shown, the report related.

The company's stock slid 7.8 percent on Feb. 5 after Bloomberg
wrote about the original late-January presentation posted by LC
Advisors, an investment adviser owned by LendingClub that helps
people buy loans arranged by the company.

Based in San Francisco, LendingClub Corporation is an online
financial platform that enables qualified borrower members to
obtain unsecured consumer loans (which the Company refers to as
"Member Loans").  The Company was incorporated in Delaware in
October 2006, and in May 2007, began operations as an application
on Facebook.com.  The Company expanded its operations in August
2007 with the launch of its public website, www.lendingclub.com.
Investors have the opportunity to purchase Member Payment
Dependent Notes issued by the Company, with each series of Notes
corresponding to an individual Member Loan facilitated through the
Company's platform. The Notes are unsecured, are dependent for
payment on the related Member Loan and offer interest rates and
credit characteristics that the Company believes the investors
find attractive.


LIQUIDMETAL TECHNOLOGIES: Amends "Change of Control" Agreements
---------------------------------------------------------------
In a Form 8-K report filed with the Securities and Exchange
Commission, Liquidmetal Technologies, Inc. amended Change of
Control Agreements with Tony Chung, the Company's chief financial
officer, Bruce Bromage, the Company's executive vice
president-Business Development and Operations and certain other
executive officers who are not "named executive officers" of the
Company for SEC reporting purposes.  As so amended, the Change of
Control Agreements provide that if the executive officer's
employment with the Company is terminated without cause during the
one-year period after a change of control of the Company, then the
terminated officer will receive a lump sum severance compensation
in an amount equal to eighteen months of his then-current base
salary.

For both the Restated Employment Agreement and the amended Change
of Control Agreements, "change of control" is defined, with certain
exceptions, as a merger of the Company with a third-party, the sale
of all or substantially all of the Company's assets, the
acquisition by a single person or group of more than 50% of the
combined voting power of the Company's outstanding securities or
the "Continuing Directors" ceasing to be a majority of the
Company's directors.  "Cause" is defined in the Change of Control
Agreements to include fraud, embezzlement, dishonesty, material
harm to the Company, or an uncured failure to adequately perform
job duties, among other things.  Under the amended Change of
Control Agreements, the executive officers will each also be
entitled to the severance compensation in the event he terminates
his own employment within one year after a change of control
because of a salary decrease, assignment to a lower-level position
or a required move of more than 25 miles.

                  About Liquidmetal Technologies

Based in Rancho Santa Margarita, Cal., Liquidmetal Technologies,
Inc., and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.  The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

Liquidmetal Technologies reported a net loss and comprehensive
loss of of $6.55 million on $603,000 of total revenues for the year
ended Dec. 31, 2014, compared to a net loss and comprehensive loss
of $14.2 million on $1.02 million of total revenue in 2013.

As of Sept. 30, 2015, the Company had $9 million in total assets,
$3.44 million in total liabilities and $5.56 million in total
stockholders' equity.

SingerLewak LLP, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that the Company has suffered recurring losses from
operations, has negative cash flows from operations and has an
accumulated deficit.  This raises substantial doubt about the
Company's ability to continue as a going concern.


LIQUIDMETAL TECHNOLOGIES: Amends Employment Agreement with CEO
--------------------------------------------------------------
Liquidmetal Technologies, Inc., disclosed in a Form 8-K filed with
the Securities and Exchange Commission that it executed an Amended
and Restated Employment Agreement with Thomas Steipp, the Company's
president and chief executive officer.  The Restated Employment
Agreement provides for an employment term from its effective date
through Aug. 3, 2017, after which the employment term is renewed
annually for successive one year terms, unless terminated by the
Company or Mr. Steipp.

Under the Restated Employment Agreement, Mr. Steipp is entitled to
certain benefits if his employment is terminated involuntarily.
These benefits include payment of a lump sum amount equal to one
year of his annual base salary, continued insurance benefits at the
Company's expense for one year and accelerated vesting of equity
awards.  If the Company undergoes a "change of control", Mr. Steipp
has the right to resign his employment voluntarily within 30 days
and receive the same benefits.  If, after a change of control, Mr.
Steipp does not voluntarily resign within such 30 days, but (i) he
is subsequently terminated, or (ii) the Company subsequently takes
certain actions that constitute "good reason" as defined in the
Restated Employment Agreement, and thereafter Mr. Steipp resigns,
he will be entitled to a payment equal to two years of base salary,
plus continued insurance benefits for two years, plus acceleration
of vesting on equity awards and an extended time during which to
exercise any equity awards that are stock options.

                  About Liquidmetal Technologies

Based in Rancho Santa Margarita, Cal., Liquidmetal Technologies,
Inc., and its subsidiaries are in the business of developing,
manufacturing, and marketing products made from amorphous alloys.
Liquidmetal Technologies markets and sells Liquidmetal(R) alloy
industrial coatings and also manufactures, markets and sells
products and components from bulk Liquidmetal alloys that can be
incorporated into the finished goods of its customers across a
variety of industries.  The Company also partners with third-
party licensees and distributors to develop and commercialize
Liquidmetal alloy products.

Liquidmetal Technologies reported a net loss and comprehensive
loss of of $6.55 million on $603,000 of total revenues for the year
ended Dec. 31, 2014, compared to a net loss and comprehensive loss
of $14.2 million on $1.02 million of total revenue in 2013.

As of Sept. 30, 2015, the Company had $9 million in total assets,
$3.44 million in total liabilities and $5.56 million in total
stockholders' equity.

SingerLewak LLP, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that the Company has suffered recurring losses from
operations, has negative cash flows from operations and has an
accumulated deficit.  This raises substantial doubt about the
Company's ability to continue as a going concern.


MALIBU LIGHTING: Hires Keen-Summit as Real Estate Broker
--------------------------------------------------------
Malibu Lighting Corporation and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court for the District of
Delaware to employ Keen-Summit Capital Partners LLC as real estate
broker for the Debtors, nunc pro tunc to January 21, 2016.

Keen-Summit will provide services in connection with the sale of
certain of the Debtors' real properties, including:

     (1) the Real Property commonly known as 4821 Simonton Road
         (Farmers Branch) Dallas, Texas 75244 and

     (2) the Real Property commonly known as 10745 Marina Drive,
         Olive Branch, Mississippi 38654.

The parties' Retention Agreement provides that Keen-Summit will
perform these services for the Debtors:

   (a) meet with the Debtors' representatives to ascertain the
       Debtors' goals, objectives, and financial parameters;

   (b) develop a marketing plan for the Real Properties and
       solicit offers therefore;

   (c) evaluate, structure, negotiate, and implement the terms
       and conditions of a proposed sale of the Real Properties;
       and

   (d) if an auction format is selected, develop and implement an
       auction plan, including arranging auction logistics,
       assisting Debtors' counsel with auction bid procedures,
       assisting the Debtors to qualify bidders, and running the
       auction at the offices of Pachulski Stang, Ziehl & Jones
       LLP or such other location that may be designated by the
       Debtors.

The term of the Retention Agreement shall be through the closing of
all transactions contemplated thereby or for a period through and
including June 30, 2016, whichever comes first.

In accordance with the terms of the Retention Agreement,
Keen-Summit will be paid as follows:

   -- As and when Company closes a Transaction, whether such
      Transaction is completed individually or as part of a
      package or as part of a sale of all or a portion of
      Company's business or as part of a plan of reorganization,
      then Keen-Summit shall have earned compensation per
      Transaction equal to 5% of the total consideration
      paid to the Company as part of the Transaction.

   -- All Transaction Fees shall be paid, in full, off the top,
      from the Transaction proceeds or otherwise, simultaneously
      with the closing or other consummation of each Transaction.

   -- Keen shall he deemed a Professional under Paragraph 17 of
      the Final Order Approving Stipulation Authorizing Use of
      Cash Collateral by Debtors Outdoor Direct Corporation fka
      The Brinkmann Corporation and Other Syndicated Facility
      Debtors [Docket No. 153] (the "Cash Collateral Order"), as
      amended from time to time, and entitled to the "carve out'
      protections provided to Professionals under the Cash
      Collateral Order.

   -- With regards to the marketing of a the Properties, Keen-
      Summit has prepared and the Debtors have approved a
      marketing plan and budget in the amount of approximately
      $27,100. Upon the Effective Date of this Agreement, the
      Debtors shall advance to Keen-Summit 50% of the budgeted
      amount and agree to pay the remainder of the approved
      budget within five business days of the proper presentation
      of invoices. Other than travel, Keen-Summit shall not incur
      costs in excess of $27,100 without the Debtors' prior
      written consent. With respect to travel costs, Keen-Summit
      may incur costs per trip of up to $1,000 without the
      Debtors' prior approval and may incur aggregate travel
      costs of up to $5,000 without the Debtors' prior approval.
      So long as Keen-Summit's travel costs are consistent with
      this policy, the Debtors will reimburse Keen-Summit for all
      reasonable, additional costs and expenses within 5 business
      days of the proper presentation of an invoice.

   -- The Debtors shall be liable for any out-of-pocket due
      diligence costs and expenses, if any, including but not
      limited to updating appraisals, title reports, surveys,
      environmental reports, property condition assessments, etc.
      incurred by Keen-Summit in connection with the engagement.
      Keen-Summit shall report to the Debtors monthly with
      respect to any expenses incurred.

   -- The Debtors shall be responsible to pay Transaction Fees
      in connection with certain transactions that may be
      consummated following the expiration of the Retention
      Agreement, where the Company entered into a Transaction
      prior to the expiration of the Retention Agreement or where
      the purchaser was introduced to the Company by Keen-Summit
      in connection with the Real Properties prior to the
      expiration of the Retention Agreement, and a purchase
      agreement is signed within 12 months of expiration of the
      Retention Agreement.

Harold Bordwin, principal and managing director of Keen-Summit,
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.

The Bankruptcy Court will hold a hearing on the motion on February
24, 2016, at 10:00 a.m.  Objections were due February 5, 2016.

Keen-Summit can be reached at:

       Harold Bordwin
       KEEN-SUMMIT CAPITAL PARTNERS LLC
       1460 Broadway
       New York, NY 10036
       Tel: (646) 381-9201
       E-mail: hbordwin@keen-summit.com

                        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.


MCCLATCHY CO: Dimensional Fund Reports 5.5% of Class A Shares
-------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Dimensional Fund Advisors LP disclosed that as of
Dec. 31, 2015, it beneficially owns 3,384,176 shares of Class A
common stock of McClatchy Co representing 5.51 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/ldvT0B

                   About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is a media company that provides
both print and digital news and advertising services.  Its
operations include 30 daily newspapers, community newspapers,
websites, mobile news and advertising, niche publications, direct
marketing and direct mail services.  Its owned newspapers include,
among others, the (Fort Worth) Star-Telegram, The Sacramento Bee,
The Kansas City Star, the Miami Herald, The Charlotte Observer,
and The (Raleigh) News & Observer.  The Company holds interest in
digital assets which include CareerBuilder, LLC, Classified
Ventures, LLC, HomeFinder, LLC, and Wanderful Media.

McClatchy Co reported net income of $374 million on $1.14 billion
of net revenues for the year ended Dec. 28, 2014, compared with net
income of $18.8 million on $1.21 billion of net revenues for the
year ended Dec. 29, 2013.

As of Sept. 27, 2015, the Company had $1.95 billion in total
assets, $1.74 billion in total liabilities and $202 million in
stockholders' equity.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

As reported by the TCR on April 2, 2014, Standard & Poor's Ratings
Services affirmed all ratings on U.S. newspaper company The
McClatchy Co., including the 'B-' corporate credit rating, and
revised the rating outlook to stable from positive.  The outlook
revision to stable reflects S&P's expectation that the
timeframe for a potential upgrade lies beyond the next 12 months,
and could also depend on the company realizing value from its
digital minority interests.


METRO AFFILIATES: McCarthy Bid to Scrap MOU, Clarify Plan Denied
----------------------------------------------------------------
Bankruptcy Judge Sean H. Lane on Feb. 3, 2016, denied approval of
two motions filed by Kathleen McCarthy in the Chapter 11 cases of
Metro Affiliates, Inc., et al.:

     1. A motion for an order rejecting a stipulation and
        memorandum of understanding between the liquidating
        trustee and Liberty Mutual Insurance Company regarding
        claims-handling matters; and

     2. A cross-motion for an order seeking to clarify the
        confirmed plan.

McCarthy seeks to clarify how certain collateral held by Liberty
will be applied as to insured claims covered by Class 6 of the
confirmed plan in this case.  That class includes claims such as
her claim, which arises out of a motor vehicle accident allegedly
involving individuals employed by the Debtors and which may be
entitled to insurance coverage by Liberty.

McCarthy further requests the Court issue an order requiring that
the collateral be used to pay, on a pro rata basis, all insured
claims and the cost of coverage, and that the MOU be rejected
because it does not do so.

McCarthy has alleged a personal injury claim against the Debtors
arising out of an accident that occurred prior to the petition
date.  Prior to the petition date, Liberty had issued certain
workers' compensation liability, auto liability, and general
liability insurance policies to the Debtors.  Among the insurance
policies issued by the Debtors was a policy that McCarthy asserts
provides coverage for loss of damages arising out of the accident.
The policy provides coverage of $1 million per accident subject to
a $500,000 deductible payable by the Debtors.  As a result, Liberty
is obligated to pay claims covered under the policy only to the
extent that such loss, damages or expenses exceed the deductible.

Liberty has informed the liquidating trustee that it intends to pay
the deductible portion of claims arising under the policy and other
automobile liability insurance issued by Liberty to the Debtors
only to the extent of applicable minimum amounts of liability
insurance that the Debtors were required to maintain under
applicable financial responsibility laws in effect in the states in
which they operated their businesses.  In some states in which the
Debtors operated, including New York and New Jersey, the mandated
minimum auto liability insurance amount is significantly lower than
the $500,000 deductible amount.  In this case, the parties refer to
the minimum amount in New York as $25,000.  Both the liquidating
trustee and Liberty understand that Liberty intends to obtain
reimbursement from the collateral for the deductible amounts
Liberty pays to claimants as well as the allocated loss adjustment
expense associated with such claims.

As of the effective date, Liberty was the beneficiary under letters
of credit, held cash, and/or letter of credit proceeds in the
approximate amount of $16,200.  That collateral has served as
security for the Debtors' ongoing payment obligations to Liberty
under automobile liability and workers' compensation insurance
policies, including the policy issued by Liberty to the Debtors
that is the subject of the potential coverage for McCarthy. The
collateral is held by Liberty under the terms and conditions of the
applicable insurance collateral agreements as security for the
Debtors' performance of its financial obligations under the
insurance policy.  It is subject to being returned or refunded to
the extent not used to satisfy obligations of the Debtors to
Liberty.  The parties are not in agreement as to the liquidating
trustee's rights to obtain the return of the remaining collateral.
But it has been the Debtors' consistent position throughout the
case -- and it is now the liquidating trust's position -- that the
money should come back to the estate once Liberty has been paid.
But there are some reservations of rights by other parties as to
any remaining collateral.

The first amended joint Chapter 11 plan of liquidation has been
confirmed in the Chapter 11 cases.  Under the Plan, holders of
insured claims, like McCarthy, are permitted to proceed with
litigation to liquidate their claims and seek recovery from
applicable insurance policies maintained by the Debtors.  Section
5.1.6(b) of the Plan provides, however, that there may be
"no applicable or available insurance policies or proceeds
from applicable or available insurance policies [may be] exhausted
or are otherwise insufficient to pay in full a Holder's recovery. .
. ."  If holders of allowed insurance claims do not obtain a full
recovery from insurance proceeds, the Plan provides that they have
an allowed general unsecured claim to the extent of a shortfall,
and it puts them in the same position as Class 5 unsecured claims.

The Order confirming the Plan provides that the Plan does not
impair the rights or obligations under the insurance policies
between Liberty and the Debtors.  It is insurance neutral.
Paragraph 6(d) of the confirmation order states in relevant part,
"The rights and obligations of the insureds and the insurers shall
be determined under the Liberty Mutual Insurance Agreements,
including all terms, conditions, limitations and exclusions
thereof, which shall remain in full force and effect, and in any
applicable non-bankruptcy law."

The liquidating trust offers a hypothetical that is helpful to
explain how coverage would work considering all these
circumstances.  The liquidating trustee's hypothetical posits a
claimant who obtains a judgment in the amount of $1 million, where
the requirement under the applicable financial responsibility law
is $100,000, and the Debtors' deductible is $500,000.  In that
case, the liquidating trustee contends that the claimant would
receive $100,000 dollars in cash from Liberty, and Liberty would
obtain reimbursement for such amount in related defense costs from
the collateral. The claimant also would have an allowed general
unsecured claim in the bankruptcy case in the amount of $400,000,
and Liberty would pay the claimant an additional $500,000
representing the amount in excess of the deductible.

                         Court's Ruling

The Court concluded that the Plan does not require clarification.

"While it is certainly not simple, the Plan clearly provides that
insured claims in Class 6 may proceed to liquidate their claims and
recover against any applicable insurance.  The Plan further
provides that to the extent that these claimants are unable to
fully recover the amount of their claims in that fashion, they
shall have an unsecured claim in Class 5 for any deficiency.  The
Plan also makes clear that the rights of insureds and insurers
under Liberty policies are unaffected by the Plan," the Judge
ruled.

"What may be less clear to the movant, and perhaps others, is how
the Liberty insurance policy operates given the Plan and the
Debtors' insurance coverage.  And it is for that reason,
apparently, that the liquidating trustee and Liberty entered into
the MOU to make clear how insurance claims would be handled and to
avoid disputes and the needless waste of the collateral in
litigating that issue.  The MOU and the extensive briefing by the
parties on this issue do, in fact, shed great light as to how these
claims will be addressed."

To the extent McCarthy seeks clarification of how the Plan and
applicable insurance coverage work together as to its insured
claim, therefore, the Court concludes that such clarification has
been provided by the briefing on these motions as well as the MOU.
To the extent, however, that McCarthy disagrees with these
explanations and posits another reading of the Plan and how these
various agreements work together, the Court rejects her position as
unsupported by the applicable agreements and the applicable law.

The Court further concludes that McCarthy has not identified
anything in the MOU that is inconsistent with the Plan, or the
pre-petition agreements entered into by the Debtors and Liberty.
She also has not identified anything about the Plan, the MOU, or
the pre-petition insurance agreements that violate applicable law.


In her reply, McCarthy raises a new argument based on novation
theory.  She contends that Liberty "now having possession of the
funds that were to be utilized for the payment of claims made and
expenses occurred [sic] in connection with those claims, now stands
in the shoes of Atlantic and has assumed Atlantics [sic] obligation
to defend and pay claims up to the $16.2 million it drew down from
the security fund."

Considering all of the arguments in the papers and in oral
argument, however, the Court concludes that McCarthy has failed to
meet its burden of establishing that a novation has occurred.

The Court made these two final conclusions:

     1. The Court agrees with the liquidating trustee that
        McCarthy's attempt to stake ownership over the collateral
        solely for the benefit of the insured unsecured claims is
        improper under the Plan and applicable bankruptcy law. It
        is clear that, while the collateral is not currently
        property of the Debtors per se, given the applicable law
        and letters of credit, the Debtor retains a residual
        property interest in seeking the return of any unused
        portions of the collateral after the lease obligations
        have been satisfied. Indeed, the estate's views on this
        issue have been expressed consistently before this Court
        by counsel for the Debtors well before any plan was ever
        confirmed.

        There is nothing in the Plan that provides preferential
        treatment of insured unsecured claims against the Debtor
        as compared to other unsecured claims. The Plan treats
        them the same when it comes to payments from the estate.
        The fact that the Plan allows insured unsecured claims to
        proceed with their lawsuits to liquidate their claims and
        recover on any available insurance from third parties,
        such as Liberty, does not somehow change how claims
        against the Debtors should be treated.

     2. The Court understands that McCarthy's injuries in the
        accident were very serious. Unfortunately, there is often
        very bad news to deliver in bankruptcy cases. And here,
        this case is no different. Indeed, there is very likely a
        very small recovery from the estate -- rather than
        insurance -- for unsecured creditors' claims like her.
        While this is unfortunate, it is unavoidable when
        applicable law, the terms of the Plan, and the facts of
        this case are applied.

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

    http://bankrupt.com/misc/Metro_Aff_1910_McCarthy_Ruling.pdf

                      About Metro Affiliates

Staten Island, New York-based Metro Affiliates, Inc., and its
subsidiaries sought protection under Chapter 11 of the Bankruptcy
Code on Nov. 4, 2013 (Bankr. S.D.N.Y. Case No. 13-13591).  The
case is assigned to Judge Sean Lane.  In its schedules, Metro
Affiliates disclosed $14,438,351 in total assets and $163,562,007
total liabilities.

Lisa G. Beckerman, Esq., and Rachel Ehrlich Albanese, Esq., at
Akin Gump Strauss Hauer & Feld LLP, in New York; and Scott L.
Alberino, Esq., at Akin Gump Strauss Hauer & Feld LLP, in
Washington, D.C., represent the Debtors.  Silverman Shin & Byrne
PLLC serves as special counsel.  Rothschild Inc. serves as the
Debtors' investment banker, while Kurtzman Carson Consultants LLC
serves as their claims and noticing agent.

The Joint Chapter 11 Plan of Liquidation filed by Metro
Affiliates, Inc. and its debtor affiliates embodies a global
settlement among the Debtors, the Creditors Committee, Wells Fargo
and Wayzata for a fair allocation of the Debtors' remaining
assets.  Wayzata holds a substantial majority of the Debtors'
Notes.  Among other things, the Settlement provides that proceeds
of the Noteholders' Collateral will be used to pay certain
administrative expenses.

The Plan creates a trust for unsecured creditors who are given the
right to pursue lawsuits.  Recoveries will be shared, with 70%
going to noteholders on their remaining claim of $14.3 million and
30% earmarked for other unsecured creditors.

On June 11, 2014, the U.S. Bankruptcy Court entered its Findings
of Fact, Conclusions of Law, and Order Confirming First Amended
Joint Chapter 11 Plan of Liquidation for the Debtors.

Wells Fargo Bank, National Association, as agent for a consortium
of DIP lenders, is represented by Jonathan N. Helfat, Esq., at
Otterbourg, Steindler, Houston & Rosen, P.C., in New York.

The Bank of New York Mellon as indenture trustee and collateral
agent for prepetition noteholders, is represented by James
Gadsden, Esq., at Carter, Ledyard & Milburn LLP, in New York.
Certain Noteholders are represented by Kristopher M. Hansen, Esq.,
at Stroock & Stroock & Lavan LLP, in New York.

The U.S. appointed a three-member official committee of
unsecured creditors represented by Farrell Fritz, P.C.
PricewaterhouseCoopers LLP serves as the Committee's
Financial advisors.

This is Metro Affiliates' third trip to Chapter 11.  The Company,
together with its subsidiaries, previously sought protection under
Chapter 11 of the Bankruptcy Code on Aug. 16, 2002 (In re Metro
Affiliates, Inc., Case No. 02-42560 (PCB), Bankr. S.D.N.Y.).  A
plan in the second Chapter 11 case was confirmed in September
2003.  The first bankruptcy was in 1994.

                           *     *     *

The Debtors won confirmation of their Plan of Liquidation on June
11, 2014.  The effective date of the Plan occurred on June 30,
2014.

The plan creates a trust for unsecured creditors who are given the
right to pursue lawsuits.  Recoveries will be shared, with 70
percent going to noteholders on their remaining claim of $14.3
million and 30 percent earmarked for other unsecured creditors.


MF GLOBAL: Liquidation Ends with $8.1 Billion Distributed
---------------------------------------------------------
Bloomberg Brief - Distress & Bankruptcy reported that the
liquidation of MF Global Inc. assets ended Feb. 9 with former
customers of the bankrupt futures commission merchant being made
100 percent whole, the trustee for the liquidation, James Giddens,
said Feb. 9.

In announcing that the U.S. Bankruptcy Court for the Southern
District of New York closed the liquidation, Mr. Giddens said that
since the October 2011 failure of MF Global, he had distributed
more than $8.1 billion, the report related.

Ninety-five percent of all non-affiliate, non-subordinated, allowed
general unsecured creditor claimants also were made whole, he said,
the report cited.

Customer claimants received approximately $6.9 billion while
nonaffiliate unsecured general claimants received approximately
$219 million, while affiliate unsecured general claimants received
$905 million, the report related.

According to Mr. Giddens, "customers and secured creditors are
completely satisfied, and unsecured creditors have received a near
full recovery."  He said that outcome was "unimaginable" when the
process started in fall 2011.

                       About MG Global

New York-based MF Global -- http://www.mfglobal.com/-- was one of

the world's leading brokers of commodities and listed derivatives.

MF Global provides access to more than 70 exchanges around the
world.  The firm also was one of 22 primary dealers authorized to
trade U.S. government securities with the Federal Reserve Bank of
New York.  MF Global's roots go back nearly 230 years to a sugar
brokerage on the banks of the Thames River in London.

On Oct. 31, 2011, MF Global Holdings Ltd. and MF Global Finance
USA
Inc. filed voluntary Chapter 11 petitions (Bankr. S.D.N.Y. Case
Nos. 11-15059 and 11-5058), after a planned sale to Interactive
Brokers Group collapsed.  As of Sept. 30, 2011, MF Global had
$41,046,594,000 in total assets and $39,683,915,000 in total
liabilities.

On Nov. 7, 2011, the United States Trustee appointed the statutory
creditors' committee in the Debtors' cases.  At the behest of the
Statutory Creditor's Committee, the Court directed the U.S.
Trustee to appoint a chapter 11 trustee.  On Nov. 28, 2011, the
Bankruptcy Court entered an order approving the appointment of
Louis J. Freeh, Esq., of Freeh Group International Solutions, LLC,
as Chapter 11 trustee.

On Dec. 19, 2011, MF Global Capital LLC, MF Global Market Services
LLC and MF Global FX Clear LLC filed voluntary Chapter 11
petitions
(Bankr. S.D.N.Y. Case Nos. 11-15808, 11-15809 and 11-15810).  On
Dec. 27, the Court entered an order installing Mr. Freeh as
Chapter
11 Trustee of the New Debtors.

On March 2, 2012, MF Global Holdings USA Inc. filed a voluntary
Chapter 11 petition (Bankr. S.D.N.Y. Case No. 12-10863), and Mr.
Freeh also was installed as its Chapter 11 Trustee.

Judge Honorable Martin Glenn presides over the Chapter 11 case.
J.
Gregory Milmoe, Esq., Kenneth S. Ziman, Esq., and J. Eric Ivester,
Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, serve as
bankruptcy counsel.  The Garden City Group, Inc., serves as claims
and noticing agent.  The petition was signed by Bradley I. Abelow,
Executive Vice President and Chief Executive Officer of MF Global
Finance USA Inc.

The Chapter 11 Trustee has tapped (i) Freeh Sporkin & Sullivan
LLP,
as investigative counsel; (ii) FTI Consulting Inc., as
restructuring advisors; (iii) Morrison & Foerster LLP, as
bankruptcy counsel; and (iv) Pepper Hamilton as special counsel.

The Official Committee of Unsecured Creditors has retained
Capstone
Advisory Group LLC as financial advisor, while lawyers at
Proskauer
Rose LLP serve as counsel.

The Securities Investor Protection Corporation commenced
liquidation proceedings against MF Global Inc. to protect
customers.  James W. Giddens was appointed as trustee pursuant to
the Securities Investor Protection Act.  He is a partner at Hughes
Hubbard & Reed LLP in New York.

Jon Corzine, the former New Jersey governor and co-CEO of Goldman
Sachs Group Inc., stepped down as chairman and chief executive
officer of MF Global just days after the bankruptcy filing.

In April 2013, the Bankruptcy Court approved MF Global Holdings'
plan to liquidate its assets.  Bloomberg News reported that the
court-approved disclosure statement initially told creditors with
$1.134 billion in unsecured claims against the parent holding
company why they could expect a recovery of 13.4% to 39.1% from
the
plan.  As a consequence of a settlement with JPMorgan,
supplemental
materials informed unsecured creditors their recovery was reduced
to the range of 11.4% to 34.4%.  Bank lenders will have the same
recovery on their $1.174 billion claim against the holding
company.
As a consequence of the settlement, the predicted recovery became
18% to 41.5% for holders of $1.19
billion in unsecured claims against the finance subsidiary, one of
the companies under the umbrella of the holding company trustee.
Previously, the predicted recovery was 14.7% to 34% on bank
lenders' claims against the finance subsidiary.


MIDSTATES PETROLEUM: Borrows $249.2 Million From SunTrust
---------------------------------------------------------
Midstates Petroleum Company, Inc., disclosed in a Form 8-K filed
with the Securities and Exchange Commission that on Feb. 4, 2016,
it borrowed approximately $249.2 million under a Second Amended and
Restated Credit Agreement dated as of June 8, 2012, among the
Issuers, as borrowers, SunTrust Bank, N.A., as administrative
agent, and the lenders and other parties thereto, which represented
the remaining undrawn amount that was available under the Credit
Facility.  These funds are intended to be used for general
corporate purposes.

As of Feb. 9, 2016, following the funding of this borrowing, the
aggregate principal amount of borrowings under the Credit Facility
were approximately $252 million, including approximately $2.8
million of outstanding letters of credit, and the Company's cash
balance was approximately $335.7 million.  Borrowings under the
Credit Facility bear interest, at the Company's option, at either
(i) the alternative base rate (the highest of (a) the
administrative agent's prime rate, (b) the federal funds rate plus
0.5%, or (c) the one-month adjusted LIBOR rate (as defined in the
agreement) plus 1.0%), plus an applicable margin that ranges
between 1.0% and 2.0%, depending on the Company's borrowing base
utilization, or (ii) the LIBOR rate plus an applicable margin that
ranges between 2.0% and 3.0%, depending on the Company's borrowing
base utilization.

                About Midstates Petroleum Company

Midstates Petroleum Company, Inc. --
http://www.midstatespetroleum.com/-- is an independent exploration
and production company focused on the application of modern
drilling and completion techniques in oil and liquids-rich basins
in the onshore U.S. Midstates' drilling and completion efforts are
currently focused in the Mississippian Lime oil play in Oklahoma
and Anadarko Basin in Texas and Oklahoma.  The Company's operations
also include the upper Gulf Coast tertiary trend in central
Louisiana.

Midstates reported net income of $117 million on $794 million of
total revenues for the year ended Dec. 31, 2014, compared to a net
loss of $344 million on $470 million of total revenues for the year
ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $2.47 billion in total assets,
$2 billion in total liabilities and $466 million in total
stockholders' equity.

The Company's independent auditor, Deloittee & Touche LLP, in
Houston, Texas, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that Midstates' projected debt covenant violation and
resulting lack of liquidity raise substantial doubt about its
ability to continue as a going concern.

                             *    *    *

Midstates Petroleum carries a 'B' corporate credit rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 8, 2013, Moody's Investors Service
affirmed Midstates Petroleum's 'B3' Corporate Family Rating.


MIDSTATES PETROLEUM: Common Stock Delisted From NYSE
----------------------------------------------------
Midstates Petroleum Company, Inc., disclosed in a Form 8-K filed
with the Securities and Exchange Commission it was notified by the
New York Stock Exchange that because the Company's average global
market capitalization over a consecutive 30 trading-day period fell
below $15,000,000, pursuant to Section 802.01B of the NYSE's Listed
Company Manual, the NYSE has determined to commence proceedings to
delist its common stock. Trading in the Company's common stock was
suspended after market hours on Feb. 3, 2016.

The NYSE will apply to the Securities and Exchange Commission to
delist the common stock upon completion of all applicable
procedures, including any appeal by the Company of the decision.  

The Company has a right to appeal this determination.  However,
the Company does not intend to appeal the determination and,
therefore, it is expected the Company's common stock will be
delisted.

Effective Feb. 4, 2016, the common stock of the Company commenced
trading on the OTC Pink marketplace under the symbol "MPOY."  The
Company can provide no assurance that its common stock will
continue to trade on this market, whether broker-dealers will
continue to provide public quotes of the Company's common stock on
this market, whether the trading volume of the Company's common
stock will be sufficient to provide for an efficient trading market
or whether quotes for the Company's common stock may be blocked by
OTC Markets Group in the future.

                About Midstates Petroleum Company

Midstates Petroleum Company, Inc. --
http://www.midstatespetroleum.com/-- is an independent exploration
and production company focused on the application of modern
drilling and completion techniques in oil and liquids-rich basins
in the onshore U.S. Midstates' drilling and completion efforts are
currently focused in the Mississippian Lime oil play in Oklahoma
and Anadarko Basin in Texas and Oklahoma.  The Company's operations
also include the upper Gulf Coast tertiary trend in central
Louisiana.

Midstates reported net income of $117 million on $794 million of
total revenues for the year ended Dec. 31, 2014, compared to a net
loss of $344 million on $470 million of total revenues for the year
ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $2.47 billion in total assets,
$2 billion in total liabilities and $466 million in total
stockholders' equity.

The Company's independent auditor, Deloittee & Touche LLP, in
Houston, Texas, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2014,
citing that Midstates' projected debt covenant violation and
resulting lack of liquidity raise substantial doubt about its
ability to continue as a going concern.

                             *    *    *

Midstates Petroleum carries a 'B' corporate credit rating from
Standard & Poor's Ratings Services.

As reported by the TCR on April 8, 2013, Moody's Investors Service
affirmed Midstates Petroleum's 'B3' Corporate Family Rating.


MIDSTATES PETROLEUM: S&P Lowers CCR to 'CCC-', Outlook Negative
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on U.S.-based oil and gas exploration and production company
Midstates Petroleum Co. Inc. to 'CCC-' from 'CCC+'.  The outlook is
negative.

At the same time, S&P lowered its issue-level rating on the
company's second-lien debt to 'CCC' from 'B-'.  The recovery rating
is '2', indicating S&P's expectation of substantial (70% to 90%,
lower half of the range) recovery in the event of a payment
default.  S&P also lowered its issue-level ratings on the company's
third-lien and senior unsecured debt to 'C' from 'CCC-'. The
recovery rating is '6', indicating S&P's expectation of negligible
(0% to 10%) recovery in the event of a payment default.

"The downgrade reflects the risk that Midstates Petroleum could
elect to file for chapter 11 following the draw-down on its credit
facility," said Standard & Poor's credit analyst Michael Tsai.  "As
a result of the draw, we expect Midstates to trip its 1x first-lien
leverage covenant under its reserve-based lending facility based on
our 2016 forecast for EBITDA under $150 million," he added.

S&P expects that the company could skip its next interest payment
on its 10.75% senior unsecured notes due April 1, 2016.
Additionally, S&P expects the borrowing base on the company's
reserve-based lending facility to decrease in the spring, which
will cause the company to be overdrawn.

S&P also revised its assessment on the company's liquidity to less
than adequate from adequate.  After accounting for the draw on the
credit facility, S&P expects the company to generate negative funds
from operation (FFO) in 2016.  S&P also expects the company will
have limited access to additional capital.

The negative rating outlook on Midstates Petroleum reflects the
likelihood the company could default on its debt, including the
upcoming interest payment on its 10.75% senior unsecured notes.

Although unlikely given S&P's current expectations, it could
consider raising the rating if it expects the company will be able
to pay all debt obligations in full and on time.


MORGANS HOTEL: Units Extend Notes and Loans Maturity Date to 2017
-----------------------------------------------------------------
As disclosed in a Form 8-K report filed with the Securities and
Exchange Commission, certain subsidiaries of Morgans Hotel Group
Co. exercised their first option to extend the initial maturity
date of the nonrecourse mortgage notes and the mezzanine loans
outstanding under the Hudson/Delano 2014 Mortgage Loan from Feb. 9,
2016, to Feb. 9, 2017.  

In connection with the initial maturity date extensions, the
Borrowers prepaid approximately $28.2 million, with cash on hand,
of outstanding indebtedness under the Hudson/Delano 2014 Mortgage
Loan to satisfy the condition precedent that requires the Debt
Yield (as defined in the agreements governing the Hudson/Delano
2014 Mortgage Loan) to be no less than 7.25% at the time of
exercise of the first extension option.  Following the prepayment,
the aggregate principal amount of indebtedness outstanding under
the Hudson/Delano 2014 Mortgage Loan was reduced from $450 million
to approximately $421.8 million, which provides the Company with
lower leverage and expected annual cash flow savings of
approximately $1.7 million.  In connection with the loan extension,
the Company entered into an interest rate cap agreement, which
effectively caps the interest rate at 5.94% through the extended
maturity date.  Other than the exercise of the option to extend the
initial maturity dates, no other modifications were made to the
terms of the agreements governing the Hudson/Delano 2014 Mortgage
Loan.

The Borrowers entered into the original financing arrangements on
Feb. 6, 2014, with Citigroup Global Markets Realty Corp. and Bank
of America, N.A., as lenders, consisting of an aggregate principal
amount of $300 million of nonrecourse mortgage notes and an
aggregate principal amount of $150 million of mezzanine loans,
resulting in an aggregate principal amount of $450 million of
indebtedness, secured by mortgages encumbering the Delano South
Beach hotel and the Hudson hotel and pledges of equity interests in
certain subsidiaries of the Company.  Pursuant to the agreements
governing the Hudson/Delano 2014 Mortgage Loan, the Borrowers have
three, one-year extension options that permit them to extend the
maturity date of the Hudson/Delano 2014 Mortgage Loan to Feb. 9,
2019, if certain conditions are satisfied at the respective
extension dates, including achievement by the Company of a
specified Debt Yield.  After the exercise of the first extension
option on the date hereof, the Company has two, one-year extension
options remaining under the Hudson/Delano 2014 Mortgage Loan.

                   About Morgans Hotel Group

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

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

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


NATIONAL JEWISH: Fitch Affirms BB+ Rating on 2012/2005 Rev. Bonds
-----------------------------------------------------------------
Fitch Ratings has affirmed the 'BB+' rating on these revenue bonds
issued by the Colorado Health Facilities Authority on behalf of
National Jewish Health (NJH):

   -- $21,075,000 series 2012 fixed-rate bonds;
   -- $10,300,000 series 2005 variable-rate demand bonds (VRDBs).

The series 2005 VRDBs are secured by a letter of credit (LOC; UMB
Bank, National Association).

The Rating Outlook is revised to Positive from Stable.

                             SECURITY

The bonds are secured by a pledge of gross revenues (excluding
restricted charitable donations and grants) and a debt service
reserve fund.

                        KEY RATING DRIVERS

RECOVERING PROFITABILITY: The Positive Outlook is driven by
dramatically improved operating profitability in the fiscal year
ended June 30, 2015, and through the six-month interim period ended
Dec. 31, 2015.  Total operating revenue increased over 11% aided
primarily by nearly 15% growth in clinical revenues (including
joint agreements) against total expense growth of 6%. As a result,
operating margin improved to negative 0.9% in fiscal 2015 compared
to negative 6% in 2014.  Profitability continued to improve through
the interim period, with a positive operating margin of 1.1%
compared to negative 4.9% in the prior year period.

LEVERAGING HIGHLY SPECIALIZED SERVICES: NJH is a national leader in
the treatment of pulmonary disease with a focus on research and
teaching.  NJH continues to execute its strategy in expanding
clinical presence via agreements with various healthcare providers,
leveraging its status as a national leader in the treatment of
complex respiratory diseases and related illnesses. Key
partnerships in the last three years include a joint operating
agreement (JOA) with St. Joseph Hospital (SJH; part of the Sisters
of Charity of Leavenworth Health System, revenue bonds rated 'AA-),
joint venture (JV) with Icahn School of Medicine at Mount Sinai
(affiliated with Mount Sinai Hospital, revenue bonds rated 'A'),
Banner Health (revenue bonds rated 'AA-'), and Rocky Mountain
Children's Hospital.  Fitch views this strategy positively,
believing it can further enhance NJH's national presence and
reputation while providing additional revenue opportunities.

LOW UNRESTRICTED LIQUIDITY: Despite stronger operating cash flow,
unrestricted cash and investments remained flat year-over-year, due
to weak investment returns and temporarily elevated accounts
receivables.  While liquidity ratios are relatively weak, Fitch
notes that NJH has a sizable endowment and temporarily restricted
funds that supports various projects.

DEBT SERVICE COVERAGE RECOVERY: Coverage of maximum annual debt
service (MADS) by EBITDA recovered to a sound 2.4x in 2015 and 2.9x
in 2016 year to date, compared to 0.6x in 2014.  MADS coverage as
calculated under the Master Trust Indenture (MTI) also improved to
4.8x in 2015 compared to 2.1x in 2014.

                       RATING SENSITIVITIES

SUSTAINED IMPROVEMENTS NEEDED: Sustained improvements and
realization of cash flows should lead to balance sheet recovery
over 12 to 24 months.  A return to investment grade is likely with
further evidence of financial stability.

                           CREDIT PROFILE

NJH is a national referral medical institute engaged in patient
care, medical research, and teaching, primarily in the areas of
respiratory, cardiac, allergic, and immunologic medicine.  NJH has
historically provided most of its services on an outpatient basis,
but the majority of NJH's inpatient services are provided at SJH's
new hospital beginning December 2014.  Total operating revenue for
fiscal year ended June 30, 2015, was $228.2 million.

Joint Operating Agreement with St. Joseph Hospital

Effective August 2014, NJH formed a JOA with SJH, and began
admitting patients at SJH's new hospital in December 2014, which is
located just two miles from NJH's existing main campus.  NJH
management reports that the move-in to the new facility, as well as
patient transfers, went very smoothly.  Fitch believes the capital
avoidance and access to a larger patient base should benefit NJH's
clinical and research efforts.

Under the JOA, NJH receives a fixed percentage of NJH and SJH's
combined Colorado operating income including both inpatient and
outpatient activities (but excluding foundation activity).  For the
first 24 months, NJH receives a certain minimum level of operating
income from the JOA.  Significant revenue growth in fiscal 2015 in
part reflects the benefits from the guarantee, but management
reports comparable results would have been achieved without the
guarantee, which Fitch views positively.  While a significant
portion of NJH's income is tied to the total JOA operations, which
includes clinical services much beyond services NJH has
historically provided, Fitch believes the near-term risks to the
JOA are very manageable at the current rating level based on the
combined market position and operating platform of NJH and SJH.

Over the medium to long term, Fitch believes that the JOA has the
potential to yield material clinical and financial advantages.  NJH
should be able to capitalize on revenue growth opportunities in
Colorado by having access to a larger network and being able to
offer its patients a fuller continuum of care while maintaining the
ability to pursue further expansion strategies across the country.
Research should benefit as well through increased access to
patients and clinical trials.  Financial reporting remains similar
to prior years, as assets and liabilities remain separate.

Other Strategic Partnerships

Over the last two years, NJH has been also executing several other
partnerships with regional and national providers.  The Mount
Sinai-National Jewish Health Respiratory Institute (established
under a JV with the Icahn School of Medicine at Mount Sinai) has
seen over 11,000 patients, and generated strong than budgeted
financial results.  Research efforts with SOM have also been
fruitful, benefitting from synergies between the research expertise
of both entities.

NJH also signed an agreement to provide electronic intensive care
(nightly ICU coverage) for Banner Health (a multi-state system) and
an agreement to provide pediatric pulmonology, allergy, and
immunology services at Rocky Mount Children's Hospital in Colorado.
The increased affiliation activity reflects NJH's strategy to
expand its national presence leveraging its highly specialized
expertise in respiratory services.  Fitch positively views NJH's
strategy to maintain its presence in a consolidating market
increasingly dominated by large systems, and expects the
organization to continue pursuing various strategic partnerships.

                     Solid Fiscal 2015 Results

The Positive Outlook reflects dramatically improved profitability
largely driven by solid growth in revenues.  Net patient service
revenues grew nearly $13 million (11%) in fiscal 2015 and revenues
from affiliates (joint agreement income) added another $3.9 million
to unrestricted revenues.  Combined with a significantly lower 6%
increase in operating expenses, profitability exhibited significant
improvement year-over-year.  Operating and operating EBITDA margin
was negative 0.9% and positive 4.1% in 2015 compared to negative 6%
and negative 0.4% in fiscal 2014.

Management is projecting to sustain improvements in fiscal 2016,
supported by the enhanced clinical operations at the new facility
as well as income generated from other partnerships.  Continued
positive momentum was evident in profitability metrics for the
six-month interim period ended Dec. 31, 2015, with operating and
operating EBITDA margins of 1.1% and 6.1%.  Management also noted
improved research revenues and fundraising successes, which
contributed to overall improvement in profitability.  Fitch
believes that the various strategic partnerships will continue
yielding financial benefits in the near term, which would be a key
component in returning to an investment grade rating.

Solid Development Activity and Manageable Capital Needs

Philanthropy activity is a credit strength, with a record amount of
$32 million raised in 2015 versus typical annual fundraising levels
of over $20 million.  NJH's largest campaign is underway, with the
goal of raising an additional $150 million that includes $100
million to fund a center for outpatient health, $20 million for an
institute for lung health (research space), and $30 million for
targeted faculty recruitments.  Capital projects will be evaluated
once sufficient amount of funds are raised.

Outside of the larger projects contingent upon fundraising success,
capital plans are manageable and have been helped by NJH admitting
to the SJH facility under the JOA.  The annual capital budget is
estimated around $3 million to $4 million going forward,
significantly below depreciation around $10 million.  NJH's
expansion projects outside of Colorado typically require little to
no capital investments.  The lower capital spending should help NJH
preserve cash.

                     Low Unrestricted Liquidity

Unrestricted cash and liquidity remained flat year-over-year
despite stronger cash flows, due to a weak investment market and
heightened accounts receivables (both net patient and net
fundraising receivables) affected by an unexpected coder loss and
increase in pledges collectible.  Unrestricted cash and investments
totaling $40.4 million at Dec. 31, 2015 equates to 71 days cash on
hand, 7.2x cushion ratio, and 77.5% cash to debt, which is mostly
unchanged from Fitch's last review and adequate for the 'BB+'
rating.  The realization of cash flows leading to balance sheet
recovery would likely lead to an upgrade.

                           DEBT PROFILE

Total outstanding debt as of Dec. 31, 2015 was $52.1 million, which
included $31.5 million in series 2012 and 2015 bonds, $2 million
capital lease, and $9 million drawn on an operating line of credit.
Fitch treats the line of credit as long-term debt based on NJH's
intentions to leave it outstanding for the foreseeable future.  The
bonds and capital leases are 78% fixed rate and 22% floating rate.
The $10.3 million series 2005 variable-rate demand bonds are
supported by an LOC from UMB bank that renews automatically
(current expiration date is March 1, 2017).

Per Fitch's calculations (based on unrestricted activity only),
coverage of MADS by EBITDA recovered to a solid 2.4x in 2015 and
2.9x in the 2016 interim period, compared to a very low 0.6x in
fiscal 2014.  Fitch uses a MADS figure of $5.6 million, which
occurs in 2017, and MADS drops to below $4 million in 2020. Payment
on the $6.3 million bullet maturity previously due in 2017 has been
extended, and a $3 million bullet maturity is due instead in 2019.
The bullet payment relates to the 2011 Grove School Property Note,
which Fitch excludes from MADS due to management's stated goals to
pay off the note with fundraising and NJH's history of success with
philanthropy.

Debt service coverage under the MTI allows for inclusion of certain
restricted philanthropic funds (Fitch's calculation only includes
unrestricted) in revenues available and only use debt service on
bonded debt.  As a result, MTI based coverage, while volatile, has
been satisfactory even in the weaker years, and was most recently
4.8x in 2015 and 2.1x in 2014.


NAVISTAR INTERNATIONAL: Franklin Resources Reports 18.7% Stake
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Franklin Resources, Inc., Charles B. Johnson, and
Rupert H. Johnson, Jr., disclosed that as of Dec. 31, 2015, it
beneficially owns 15,268,623 shares of common stock of
Navistar International Corporation representing 18.7 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/ltW6Tv

                   About Navistar International

Navistar International Corporation (NYSE: NAV) --
http://www.navistar.com/-- is a holding company whose           
subsidiaries and affiliates subsidiaries produce International(R)
brand commercial and military trucks, MaxxForce(R) brand diesel
engines, IC Bus(TM) brand school and commercial buses, Monaco RV
brands of recreational vehicles, and Workhorse(R) brand chassis
for motor homes and step vans.  It also is a private-label
designer and manufacturer of diesel engines for the pickup truck,
van and SUV markets.  The Company also provides truck and diesel
engine parts and service.  Another affiliate offers financing
services.

Navistar International reported a net loss attributable to the
Company of $619 million for the year ended Oct. 31, 2014, compared
to a net loss attributable to the Company of $898 million for the
year ended Oct. 31, 2013.

                          *     *     *

In the Oct. 9, 2013, edition of the TCR, Moody's Investors Service
affirmed the ratings of Navistar International Corp., including the
'B3' corporate family rating.  The ratings reflect Moody's
expectation that Navistar's successful incorporation of Cummins
engines throughout its product line up will enable the company to
regain lost market share, and that progress in addressing component
failures in 2010 vintage-engines will significantly reduce warranty
expenses.

As reported by the TCR on Oct. 9, 2013, Standard & Poor's Ratings
Services lowered its long-term corporate credit rating on Navistar
International to 'CCC+' from 'B-'.  "The rating downgrades reflect
our increased skepticism regarding NAV's prospects for achieving
the market shares it needs for a successful business turnaround,"
said credit analyst Sol Samson.

In January 2013, Fitch Ratings affirmed the issuer default ratings
for Navistar International at 'CCC' and removed the negative
outlook on the ratings.  The removal reflects Fitch's view that
immediate concerns about liquidity have lessened, although
liquidity remains an important rating consideration as NAV
implements its selective catalytic reduction engine strategy.


NELSON DESIGN: Case Summary & 8 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Nelson Design Group, LLC
        2200 Fowler Ave., Suite D
        Jonesboro, AR 72401

Case No.: 16-10670

Chapter 11 Petition Date: February 10, 2016

Court: United States Bankruptcy Court
       Eastern District of Arkansas (Jonesboro)

Judge: Hon. Phyllis M. Jones

Debtor's Counsel: Joel G. Hargis, Esq.
                  HARGIS LAW OFFICE
                  512 West Washington Avenue
                  Jonesboro, AR 72401
                  Tel: 870-336-6407
                  Fax: 870-277-4005
                  Email: joel@hargislawoffice.com

Total Assets: $890,202

Total Liabilities: $3.44 million

The petition was signed by Michael E. Nelson, managing member.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/areb16-10670.pdf


NEOMEDIA TECHNOLOGIES: YA Global, et al., Report 9.9% Stake
-----------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, YA Global Investments, L.P., Yorkville Advisors, LLC,
Yorkville Advisors GP, LLC and Matthew Beckman disclosed that as of
Dec. 31, 2015, they beneficially own 111,111,111 shares of common
stock of NeoMedia Technologies, Inc., representing 9.9 percent of
the shares outstanding.  A copy of the regulatory filing is
available for free at http://is.gd/xC9WGS

                     About NeoMedia Technologies

Atlanta, Ga.-based NeoMedia Technologies provides mobile barcode
scanning solutions.  The Company's technology allows mobile
devices with cameras to read 1D and 2D barcodes and provide "one
click" access to mobile content.

NeoMedia reported a net loss of $2.46 million on $3.51 million of
revenues for the year ended Dec. 31, 2014, compared to net income
of $28.46 million on $4.29 million of revenues in 2013.

As of Sept. 30, 2015, the Company had $1.17 million in total
assets, $41.63 million in total liabilities, $4.31 million in
series C convertible preferred stock, $348,000 in series D
convertible preferred stock and a $45.12 million total
shareholders' deficit.

StarkSchenkein, LLP, in Denver, CO, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014.  The independent auditors noted that the
Company has suffered recurring losses from operations, has
significant working capital and shareholder deficits and may have
ongoing requirements for additional capital investment.  These
factors, the auditors noted, raise substantial doubt about the
Company's ability to continue as a going concern.


NEW BEGINNINGS: Case Summary & 12 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: New Beginnings of South Florida, Inc.
        c/o Salazar Jackson, LLP
        Attn: Luis Salazar, Esq.
        2000 Ponce De Leon Boulevard, Penthouse
        Coral Gables, FL 33134

Case No.: 16-11907

Chapter 11 Petition Date: February 10, 2016

Court: United States Bankruptcy Court
       Southern District of Florida (Miami)

Judge: Hon. Robert A Mark

Debtor's Counsel: Luis Salazar, Esq.
                  SALAZAR JACKSON, LLP
                  2000 Ponce De Leon Boulevard, Penthouse
                  Coral Gables, FL 33134
                  Tel: 305.374.4848
                  Fax: (305) 397-1021
                  Email: salazar@salazarjackson.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Elvira Smith, president.

A list of the Debtor's 12 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb16-11907.pdf


NEW GULF RESOURCES: $75MM DIP, Disclosure Cleared at 11th Hour
--------------------------------------------------------------
Jeff Montgomery at Bankruptcy Law360 reported that Oklahoma-based
New Gulf Resources secured 11th hour approvals in Delaware late
Feb. 4, 2016, for a final $75 million debtor-in-possession loan and
Chapter 11 disclosure, amid warnings of future challenges to the
company restructuring plan and $570 million debt rework.

During bankruptcy court testimony, New Gulf CEO Ralph A. Hill said
the oil and gas production company had only two weeks of cash left
for operations.  Failure to secure the final DIP and release of new
funds, he said, would have triggered an immediate $55 million debt
default.

                    About New Gulf Resources

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

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

The Company currently employs 55 people.

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


NUO THERAPEUTICS: Feb. 22 Hearing on Key Employee Incentive Plan
----------------------------------------------------------------
BankruptcyData reported that Nuo Therapeutics filed with the U.S.
Bankruptcy Court a redacted motion for entry of an order
authorizing and approving key employee incentive plan.

The motion explains, "Since the Petition Date, the Debtor and its
professionals have, among other things, taken steps to implement a
comprehensive sale process that will permit the Debtor to
aggressively market, and eventually auction, substantially all of
its assets.  In furtherance of the marketing and sale process, and
in connection with the Debtor's efforts to maintain and maximize
its going concern value, the Debtor's board of directors approved
the KEIP to ensure that key personnel are properly incentivized to
obtain the highest price for the Debtor's assets.

The Debtor believes that the KEIP (i) provides much needed
incentives and assurances to the Debtor's key employees during this
challenging time, and (ii) incentivizes such key employees to
outperform and maximize the value of the Debtor's business during
the sale process. Importantly, the Debtor believes that there is an
urgent need to sufficiently incentivize the Debtor's key employees
to take those extraordinary steps, above and beyond their typical
duties and responsibilities that are critical to a successful
conclusion to this chapter 11 case."

The motion continues, "Under the terms of the KEIP, KEIP
Participants will receive certain discretionary KEIP Payments out
of an increasing pool of funds tied to the total amount of Sale
consideration.  The amount of KEIP Payment will be determined,
subject to the Debtor's discretion and reasonable business
judgment, based on a number of conditions and milestones...The
total cost of the KEIP is expected to be between approximately
$150,000 and $380,000."

The Court scheduled a Feb. 22, 2016 hearing on the motion.

                     About NUO Therapeutics

Nuo Therapeutics, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 16-10192) on Jan. 26, 2016.  The petition
was signed by David E. Jorden as acting chief executive officer and
acting chief financial officer.

Ashby & Geddes, P.A. represents the Debtor as counsel and Epiq
Bankruptcy Solutions, LLC serves as the Debtor's claims, balloting
and noticing agent.  Hon. Mary F. Walrath has been assigned the
case.


NYC CONSTRUCTORS: WTC Contractor Gets Nod for March Auction
-----------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that a New York
construction firm that ran into financial problems after starting
work on the 3 World Trade Center office tower in lower Manhattan
got court approval on Feb. 5, 2016, to go ahead with a March
bankruptcy auction led by a $7.2 million stalking horse bid from
Banker Steel.

U.S. Bankruptcy Judge Shelley Chapman approved bidding procedures
for an auction of New York Constructors Inc.'s assets.

                      About NYC Constructors

NYC Constructors Inc. and its subsidiary, MRP, LLC, are under
contract to install steel at the 3 World Trade Center tower.
Besides work at 3 World Trade Center, New York Constructors said in
court documents that it has active steel erection projects at the
Museum of Modern Art and Rockefeller University.

NYC Constructors and MRP, LLC, sought Chapter 11 protection (Bankr.
S.D.N.Y. Case Nos. 16-10069 and 16-10070) on Jan. 14, 2016, with
plans to their assets to Banker Steel for at least $7.2 million.
Judge Shelley C. Chapman presides over the cases.

The Debtors tapped Scott S. Markowitz, Esq., at Tarter Krinsky &
Drogin LLP, as attorneys; and Getzler Henrich & Associates LLC, as
advisor.  NYC Constructors estimated $1 million to $10 million in
assets and debt.  The petition was signed by Barry King, president.


OLDE COUNTRY REPRODUCTIONS: Case Summary & 20 Top Creditors
-----------------------------------------------------------
Debtor: Olde Country Reproductions, Inc.
            dba Pewtarex
            dba Rhino Frames
        P.O. Box 2617
        York, PA 17401

Case No.: 16-00536

Chapter 11 Petition Date: February 10, 2016

Court: United States Bankruptcy Court
       Middle District of Pennsylvania (Harrisburg)

Judge: Hon. Robert N Opel II

Debtor's Counsel: Lawrence V. Young, Esq.
                  CGA LAW FIRM
                  135 North George Street
                  York, PA 17401
                  Tel: 717 848-4900
                  Fax: 717 843-9039
                  Email: lyoung@cgalaw.com

Total Assets: $106,622

Total Liabilities: $2.01 million

The petition was signed by William H. Swartz, III, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pamb16-00536.pdf


OLLIE'S HOLDINGS: Moody's Withdraws Ba3 Corporate Family Rating
---------------------------------------------------------------
Moody's Investors Service has withdrawn all ratings of Ollie's
Holdings, Inc. including its Ba3 Corporate Family Rating, Ba3-PD
Probability of Default Rating, Ba3 senior secured term loan rating
and SGL-2 speculative grade liquidity rating.

Moody's withdrew the company's ratings following the refinancing
and repayment of its rated senior secured term loan. The company's
new $200 million senior secured term loan is unrated.

RATINGS RATIONALE

On January 29, 2016, Ollie's announced that it had refinanced its
existing senior secured term loan and senior secured ABL revolving
credit facility with a new $200 million senior secured term loan
and $100 million revolving credit facility maturing 2021. In
connection with the refinancing all existing rated debt was repaid
in full and therefore all ratings have been withdrawn.

Rating withdrawn are:

Corporate Family Rating at Ba3

Probability of Default Rating at Ba3-PD

Senior secured first lien term loan at Ba3 (LGD 4)

Speculative Grade Liquidity Rating at SGL-2


OSAGE EXPLORATION: Asks Court to Approve $1.4MM Apollo DIP Loan
---------------------------------------------------------------
Osage Exploration and Development, Inc., is asking the U.S.
Bankruptcy Court for the Western District of Oklahoma for authority
to obtain postpetition loans and other extensions of credit from
Apollo Investment Corporation or one or more of its affiliates in
an amount not to exceed $1,400,000, of which $400,000 will be
available upon interim approval of the financing.

The DIP facility will have maturity date of the earlier of the
occurrence of (i) April 25, 2016, (ii) the effective date of a
chapter 11 plan with respect to the Bankruptcy Case, (iii)
the sale of all or a substantial part of the assets of the Debtor
and its subsidiaries -- which, for the avoidance of doubt, shall
include any sale of any oil and/or gas well operated by the Debtor
-- and (iv) the date that the Loans shall become due and payable in
full or pursuant to the DIP Order, whether by acceleration or
otherwise.

The DIP loans will have interest rate of 8% per annum, payable in
arrears at the end of every calendar month at maturity.  There is a
default rate of 2% per annum in excess of the interest rate
otherwise payable.  The Debtor agrees to pay fees of 2% of the
principal amount of the DIP Facility, payable on the date of the
applicable funding and 2% of the total amount advanced under the
DIP Facility payable upon maturity.

The Debtor also requests for approval to use cash collateral.  The
Lender has consented to the Debtor's use of cash collateral subject
to funding and budget limitations.  Use of cash collateral will
terminate on April 25, 2016.  The parties agreed to a 13-week
budget.

The Debtor is already indebted to Apollo pursuant to a Credit
Agreement dated April 27, 2012.  The Lender holds a valid,
enforceable, and allowable claim against the Debtor, as of the
Petition Date, in an aggregate amount of at least $25,000,000 of
unpaid principal, plus any and all accrued and unpaid interest,
fees, costs, expenses, charges, and other claims.

The parties agree that the Debtor will conduct a comprehensive
marketing and sale process of its assets and businesses.

The DIP Facility and the use of Cash Collateral will fund necessary
restructuring costs and other essential costs as the Debtor moves
toward a sale of its assets.

Attorneys for the Debtor:

          CROWE & DUNLEVY
          Mark A. Craige, Esq.
          Michael R. Pacewicz, Esq.
          500 Kennedy Building
          321 South Boston Avenue
          Tulsa, OK 74103-3313
          Tel: 918-592-9800
          Fax: 918-592-9801
          E-mail: mark.craige@crowedunlevy.com
                  michael.pacewicz@crowedunlevy.com

                    About Osage Exploration

Based in San Diego, California with production offices in Oklahoma
City, Oklahoma, and executive offices in Bogota, Colombia, Osage
Exploration and Development, Inc. (OTC BB: OEDV) --
http://www.osageexploration.com/-- is an independent exploration  
and production company with interests in oil and gas wells and
prospects in the US and Colombia.

Osage Exploration filed a Chapter 11 petition (Bankr. W.D. Okla.
Case No. 16-10308) on Feb. 3, 2016, to pursue a sale of
substantially all assets.  The Debtor tapped Crowe & Dunlevy as
counsel.  The Debtor estimated assets and debt of $10 million to
$50 million.


OSAGE EXPLORATION: Limited Objections to Apollo Financing Filed
---------------------------------------------------------------
Parties-in-interest have filed limited objections to Osage
Exploration and Development, Inc.'s bid to secure postpetition
financing.  They are not objecting to the Debtor's decision obtain
a $1.4 million DIP facility from existing lender Apollo Investment
Corporation to finance its Sec. 363 sales process but they raised
various issues.

The Debtor said it has entered into a stalking-horse bid to sell
substantially all of its assets for $5,000,000.  Apollo is alleged
to be a prepetition lender to the Debtor in the approximate amount
of $25,000,000 secured by a first lien on all debtor assets not
otherwise subject to prior liens.

Blake Arnold Working Interest Oil & Gas Properties, L.L.C., et al.,
said that at this stage of the case, any limitations on the ability
of parties, or any creditors committee appointed in this case, to
investigate and pursue claim against Apollo, if any, are
inappropriate.

"On information and belief, there does not appear to be any
potential recovery for unsecured creditors in this case.  Pledging
avoidance actions to secure repayment of the DIP Facility, incurred
for the purpose of facilitating a sale possibility for the sole
benefit of Apollo, is inappropriate," Blake Arnold Working Interest
Oil & Gas Properties, L.L.C., et al., said.

"If the Section 363 sale process is conducted for the sole or
primary benefit of Apollo, Apollo should bear the administrative
cost of the process.  Any limitation on recovery of those costs in
inappropriate."

The objectors, Blake Arnold Working Interest Oil & Gas Properties,
L.L.C. ("BA"), Claude C. Arnold Working Interest Oil & Gas
Properties, L.L.C. ("CCA") and R. Scott Thompson Enterprises, LLC
("RST"), are working interest owners in the George Plagg 1-18MH and
the Norval Gooch 1-7MH wells ("Wells") operated by the Debtor.
They pre-paid approximately $3,700,000 for the sole and limited
purpose of covering their proportionate costs for the drilling and
completion of the Wells (the "Earmarked Pre-Payment").  The Wells
have been drilled and completed.

CFE Partners LLC and Endico, Inc. joined in the Limited Objection
filed by Blake Arnold Working Interest Oil & Gas Properties, et
al.

Another group of objectors, Weatherford U.S., L.P., et al., object
to certain specific terms of the proposed DIP Facility and
Proposed Order:

   * By addressing only those claims held by Apollo and/or its
     affiliate entities, the Proposed Order fails to adequately
     protect the interests of mineral and mineral subcontractor
     lienholders, including Weatherford.  The Proposed Order
     fails to address existing mineral and/or mineral subcontract
     liens on any wells other than the Everest 1-9MH, such as
     those of Weatherford, in any way.

   * The DIP Motion states that there are approximately $100,000
     in other existing liens upon the Priming Collateral.  To
     the contrary, Weatherford asserts liens in excess of
     $2.6 million on wells other than the Everest 1-9MH.

   * The Proposed Order stipulates that Apollo has a first-
     priority lien on all assets.  The Proposed Order does not
     grant standing to any statutory committee or other party-in-
     interest. Thus, absent Weatherford (or any other party-in-
     interest) filing an immediate motion for standing to
     challenge Apollo's liens and, assuming such motion is
     approved, filing a complaint (all within 30 days)
     challenging Apollo's liens, Apollo will receive the benefit
     of 100% of the sale proceeds of the Debtor's assets other
     than the Everest 1-9 well.

   * Weatherford objects to the proposed DIP Liens to the extent
     those liens prime existing mineral and mineral subcontractor
     liens, such as those held by Weatherford.  Any DIP liens
     provided to Apollo should be expressly subordinate to
     Weatherford's valid, perfected mineral or mineral
     subcontractor liens under applicable state law.

   * The Proposed Order grants Apollo a first-priority lien on
     chapter 5 avoidance actions.  Again, taking the Debtor's
     stipulations at face value, 100% of sale proceeds of the
     Debtor's assets will go to secured creditors.  At a minimum,
     chapter 5 causes of action must remain unencumbered for this
     bankruptcy case to have any hope of providing any benefit to
     unsecured creditors.

   * Any administrative expense claim, whether superpriority or
     not, granted to Apollo should be expressly subordinate to
     (i) any valid, perfected mineral and mineral subcontractor
     liens which are senior to those of Apollo, (ii) any adequate
     protection replacement liens granted to mineral and mineral
     subcontractor lien holders, (iii) administrative expense
     claims granted to such holders, and (iv) should not be able
     to look to proceeds of chapter 5 causes of action for
     satisfaction.

Weatherford, through its various divisions and/or affiliates,
furnished goods, materials, supplies, machinery, equipment, and/or
labor under contract with the Debtor in connection with oil and gas
operations conducted by the Debtor for which Weatherford has not
been paid.  As a result, Weatherford has lien rights under
applicable state law, including the laws of the State of Oklahoma.

Counsel for Weatherford U.S., L.P., Weatherford Artificial Lift
Systems, LLC, and Precision Energy Services, Inc.:

         GARDERE WYNNE SEWELL LLP
         Michael S. Haynes, Esq.
         Marcus A. Helt, Esq.
         1601 Elm Street, Suite 3000
         Dallas, TX 75201-4761
         Telephone: 214.999.3000
         Facsimile: 214.999.4667
         E-mail: mhaynes@gardere.com
                 mhelt@gardere.com

                - and -

         Jeffrey S. Davis, Esq.
         1000 Louisiana Street, Suite 2000
         Houston, TX 77002-5007
         Telephone: 713.276.5500
         Facsimile: 713.276.5555
         E-mail: jdavis@gardere.com

Counsel for Blake Arnold Working Interest Oil & Gas Properties,
L.L.C., et al.:

         Stephen J. Moriarty, Esq.
         FELLERS, SNIDER, BLANKENSHIP, BAILEY & TIPPENS, P.C.
         100 North Broadway Avenue, Suite 1700
         Oklahoma City, OK 73102-8820
         Telephone: (405) 232-0621
         Facsimile: (405) 232-9659
         E-mail: smoriarty@fellerssnider.com

Attorneys for CFE Partners LLC and Endico, Inc.:

         Stephen J. Moriarty, Esq.
         FELLERS, SNIDER, BLANKENSHIP, BAILEY & TIPPENS, P.C.
         100 North Broadway Avenue, Suite 1700
         Oklahoma City, OK 73102-8820
         Telephone: (405) 232-0621
         Facsimile: (405) 232-9659
         E-mail: smoriarty@fellerssnider.com

                    About Osage Exploration

Based in San Diego, California with production offices in Oklahoma
City, Oklahoma, and executive offices in Bogota, Colombia, Osage
Exploration and Development, Inc. (OTC BB: OEDV) --
http://www.osageexploration.com/-- is an independent exploration  
and production company with interests in oil and gas wells and
prospects in the US and Colombia.

Osage Exploration filed a Chapter 11 petition (Bankr. W.D. Okla.
Case No. 16-10308) on Feb. 3, 2016, to pursue a sale of
substantially all assets.  The Debtor tapped Crowe & Dunlevy as
counsel.  The Debtor estimated assets and debt of $10 million to
$50 million.


OSAGE EXPLORATION: Massive Drop in Crude Oil Cues Chapter Filing
----------------------------------------------------------------
BankruptcyData reported that Osage filed for Chapter 11 protection
with the U.S. Bankruptcy Court in the Western District of
Oklahoma.

The Company is engaged in the exploration, production, development,
acquisition and exploitation of crude oil and natural gas
properties.

According to documents filed with the Court, "the Debtor has been
struggling due to the substantial drop in and sustained low crude
oil and natural gas prices over the past months.  Based on Debtor's
current capital structure, liquidity constraints, and inability to
raise new capital, it has become necessary for Debtor to seek
chapter 11 protection in order to protect and preserve its going
concern value and to facilitate a prompt sale of all of its assets
for the benefit of all stakeholders."

In a separate report, Stewart Bishop at Bankruptcy Law360 said that
the Company cited steady decline in crude oil and natural gas
prices in its Chapter 11 petition.

The Company also filed a plan to execute a sale of all of its
assets.

The company said that it lacks the capital to continue drilling for
its proven undeveloped Oklahoma oil and gas reserves and doesn't
have enough cash to pay its operational expenses.

                    About Osage Exploration

Based in San Diego, California with production offices in Oklahoma
City, Oklahoma, and executive offices in Bogota, Colombia, Osage
Exploration and Development, Inc. (OTC BB: OEDV) --
http://www.osageexploration.com/-- is an independent exploration  
and production company with interests in oil and gas wells and
prospects in the US and Colombia.

Osage Exploration filed a Chapter 11 petition (Bankr. W.D. Okla.
Case No. 16-10308) on Feb. 3, 2016.

The Debtor tapped Crowe & Dunlevy as counsel.

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


PHILADELPHIA SCHOOL: Fitch Affirms 'BB-' Rating on $1.7-Bil. Bonds
------------------------------------------------------------------
Fitch Ratings has affirmed the underlying 'BB-' rating on the bonds
issued for the school district of Philadelphia (SDP, or the
district):

   -- $1.1 billion Pennsylvania State Public School Building
      Authority school lease revenue and revenue refunding bonds
      issued on behalf of SDP;

   -- $1.6 billion school district of Philadelphia general
      obligation (GO) and GO refunding bonds;

The Rating Outlooks for the underlying district and authority
ratings remain Negative.  The enhanced rating of 'A+' with a Stable
Outlook on the bonds reflects protections under the Pennsylvania
School Credit Enhancement Law.

                             SECURITY

The bonds are payable from the district's full faith, credit and
taxing power.  The rating on the bonds is enhanced by the
Pennsylvania School Credit Enhancement Law.

                       KEY RATING DRIVERS

UNCERTAIN RECOVERY PROSPECTS: The district has made progress
towards structural budgetary balance with several years of dramatic
expenditure cuts and implementation of substantial recurring
revenue increases.  Major obstacles remain, including rising cost
pressures and the incomplete commonwealth budget.

RAPID CHARTER SCHOOL GROWTH: The number of students enrolled in
charter schools more than doubled in the past six years.  Further
growth is expected, increasing financial challenges as charter
schools divert resources from the district.

LIMITED ABILITY TO RAISE REVENUE: As is typical for school
districts, the largest source of funding is from the state. Raising
locally generated revenue requires city council approval.

ELEVATED DEBT LEVELS: The district's overall debt burden is high
relative to the tax base, although annual debt service expenditures
consume a moderate share of the district's operating budget.
Payments for other long-term liabilities are moderate but growing.

STABLE, BUT CHALLENGED, SERVICE AREA: Demographic and economic
indicators are weak, although the city's economy is anchored by the
presence of several large healthcare and higher education
institutions.

                        RATING SENSITIVITIES

FURTHER FINANCIAL DETERIORATION: Additional reductions in the
Philadelphia school district's financial flexibility over the
medium term due to an inability to continue making progress toward
long-term structural balance would lead to a further downgrade.

                          CREDIT PROFILE

FISCAL PROGRESS BUT CHALLENGES PERSIST

The district's fiscal 2015 budget was balanced through a number of
largely recurring measures, including $120 million from a one
percent city sales tax and $49 million from a new locally-levied
cigarette tax.  SDP ended the year on June 30 with a modest
budgetary operating surplus of $6.9 million across its three
primary funds.  For fiscal 2016, the district anticipates another
modest operating surplus, benefiting from $70 million in new
recurring revenues via city tax increases and continued fiscal
austerity.  This follows several years of operating deficits and
$300 million in deficit borrowing in fiscal 2013.

      UNION NEGOTIATIONS GARNER SAVINGS; TEACHERS AT IMPASSE

New labor contracts have been a key source of recurring savings for
SDP.  The district reached an agreement in 2012 with the Service
Employees International Union (SEIU) that provides $100 million in
savings over the four year life of the contract, largely from an
approximately 10% reduction in wages.  In 2014 the district also
reached agreement with its administrators for a new contract that
includes 12% - 16% pay cuts, a shorter work year, and increased
health care contributions, netting $20 million a year in savings.
Both contracts expire on Aug. 31, 2016 and the district is engaged
in negotiations to extend them.  Fitch anticipates SDP will work
with the unions to reach fiscally sustainable terms.

The district's contract with the Philadelphia Federation of
Teachers (PFT) expired in August 2013.  For some time, the district
was requesting large wage cuts similar to those agreed to by SEIU,
but the two sides could not reach an agreement.  PFT is not legally
permitted to strike.  In October, 2014, the School Reform
Commission (SRC), the commonwealth-appointed board overseeing the
district, cancelled the union's existing, expired contract and
attempted to impose changes in health care benefits, require
employee contributions to health care benefits, and eliminate an
existing health and welfare fund.  This would have saved the
district approximately $50 million a year.

In January 2015, the Commonwealth Court ruled the SRC's actions
illegal.  The Supreme Court of Pennsylvania accepted SRC's appeal
in August and is currently reviewing legal briefs on the case.
Fitch is not aware of a scheduled trial date.  In the interim,
teachers continue to work under terms of the expired contract and
all salary increments under the prior contract have been frozen
since August 2013.

           SUSTAINED STRUCTURAL BALANCE STILL A CHALLENGE

While positive, recent fiscal improvement does not fully address
SDP's lingering challenges.  The district's fiscal 2015 - 2019
five-year financial plan projects a steadily increasing structural
budgetary gap across its three primary operating funds reaching
$152 million, or 5.6% of revenues, in fiscal 2019.  This plan was
adopted in December 2014, before recent revenue-raising actions by
the city council, discussed further below.

Charter school enrollment continues to grow, consuming larger
portions of the district's operating budget as the district makes
per-pupil payments to charter schools based on a state formula.  In
fiscal 2015 (unaudited) charter school payments made up nearly 38%
of general fund expenditures, up from 18% in fiscal 2009.  In its
five-year financial plan, SDP estimated charter schools would
account for $140 million of an anticipated $282 million in new
costs by 2019.

Escalating pension payments are another fiscal pressure point.  As
with charter schools, pension costs are dictated by state law with
steep increases in recent years and another one anticipated in
fiscal 2017.  Under current law, increases in following years
should moderate but by fiscal 2019, SDP's five year financial plan
projects pensions will account for $75 million of the $282 million
in additional costs.

District officials believe that their recent expenditure control
efforts (including school closures and layoffs) bring them to a
bare minimum service level, and are seeking significant additional
funding.  Additional resources could also stem the flow of district
residents to charter schools and alleviate cost pressure.

In the last several years, the city of Philadelphia (general
obligation bonds rated 'A-' with a Stable Outlook) made significant
recurring contributions to SDP with tax and fee increases including
$70 million enacted for fiscal 2016.  With state legislative
support, the city also began directing $120 million in a local
sales tax levy to the district and implemented a new cigarette tax.
In contrast, beyond assenting to these local tax changes,
commonwealth funding increases have been minimal.

               COMMONWEALTH FUNDING REMAINS IN FLUX

The lack of a full-year commonwealth budget creates significant
uncertainty for all school districts in Pennsylvania.  SDP is
particularly exposed given its significant reliance (approximately
50% of budgetary operating revenues) on state aid.

The district borrowed $300 million in tax revenue anticipation
notes (TRANs) at the start of the current fiscal year for its
normal cash flow needs, and added an additional $525 million as the
state's budget impasse continued (all via private placement). The
partial commonwealth budget enacted at the end of calendar year
2015 provided six months of basic education funding (BEF) to school
districts (the primary stream of state aid) and a full year of
funding in other categories including special education and
transportation.

SDP repaid $250 million of TRANs in January following the partial
commonwealth budget, with the $575 million balance due on June 1.
Fitch believes that the commonwealth remains committed to
supporting its school districts, as evidenced by passage of the
partial budget and close engagement with fiscally challenged
districts.  Fitch anticipates Pennsylvania will make every effort
to ensure SDP is able to meet its debt service obligations.
However, the lack of a full budget creates liquidity pressures and
operating uncertainty warranting the continued negative outlook for
the district.

A key point of contention in the ongoing commonwealth budget
impasse is the extent of increased BEF and its distribution across
school districts.  All key parties agree that some increase should
be included in a final budget agreement, but they differ on the
magnitude and how it should be paid for.  Conservatively, SDP's
most recent fiscal 2016 forecast and its current five-year
financial plan project no increase in commonwealth funding from the
prior year.

                       ELEVATED DEBT LEVELS

Overall debt ratios are above average at over $4,700 per capita and
a high 8.1% of market value.  Amortization is slightly below
average at approximately 50% in 10 years.

SDP's pension costs will nearly double from fiscal 2015 to fiscal
2019 under current law.  The district is hoping for relief from
statewide pension reform, and the issue is part of the ongoing
budget negotiations.  SDP participates in a state-sponsored plan
(Public School Employees Retirement System) with approximately 67%
of employer contributions made by the state through appropriations
to the district.  The plan is currently approximately 60% funded
using a Fitch-adjusted 7% return level, and the funding level has
been deteriorating as the state has consistently underfunded its
annual required contribution (ARC).  The increased costs are
partially caused by the plan shifting towards full funding of the
ARC by 2017, which Fitch views favorably.

Other post-employment benefits are minimal. Carrying costs are a
moderate 16% of governmental spending, though this will grow with
increased pension costs.

           LARGE URBAN DISTRICT WITH WEAK SOCIOECONOMICS

The Philadelphia School District is the nation's eighth largest
school district and the largest in the commonwealth, with fiscal
year 2015 enrollment of 207,000 students, including charter school
students.  District enrollment has shown growth in recent years
primarily because charter school enrollment continues to escalate
at a healthy rate.  As of fall 2014, 71,183 students within SDP
enrolled in charter schools with 64,301 enrolled in brick and
mortar charters within the district, 6,619 in cyber charters
(essentially online schools intended mainly for alternative
students), and 263 in charters outside of SDP.  In fall 2008, SPD
charter school enrollment was just below 35,458.  Non-charter
school enrollment declined nearly 18% since then.

As both a city and county and with an estimated population of
approximately 1.5 million residents, Philadelphia benefits from its
role as a regional economic center with a stable employment base
weighted in higher education and health care sectors.  Led by the
University of Pennsylvania, Jefferson Health System and Temple
University, the city is home to several large colleges and
universities and is anchored by multiple hospitals and health
systems.

Though down from past levels, the city's December 2015 unemployment
rate of 5.4% remains high as does the poverty rate at 26% of the
population.  Income levels on both a per capita and median
household level are well below state and national levels.


POWERWAVE TECHNOLOGIES: Subcontractor's Suit Survives Dismissal Bid
-------------------------------------------------------------------
Jacob Fischler at Bankruptcy Law360 reported that a D.C. federal
judge on Feb. 5, 2016, nixed efforts by a wireless carrier
partnership to move or dismiss a subcontractor's $1 million suit
claiming the group failed to vet the prime contractor on a
Washington subway project, saying the group's contract with the
transit authority required diligence.

U.S. District Judge Rudolph Contreras dismissed three of seven
claims Intelect Corp. -- a subcontractor on a $65.7 million
contract to bring wireless capabilities to the tunnels and stations
of the Washington Metropolitan Area Transit Authority -- had
leveled against a consortium of the nation’s four biggest
wireless carriers.

Intelect properly pled negligence, unjust enrichment and that it
was entitled to relief as a beneficial third party to a contract
between WMATA and Powerwave Technologies Inc., which allegedly
failed to pay about $1 million to the subcontractor and has since
filed for bankruptcy, Judge Contreras said. He dismissed charges of
constructive fraud, misrepresentation and — provisionally —
promissory estoppel, though he allowed Intelect to amend its
complaint to better demonstrate how it was harmed by the
carriers’ promise that work on the project would resume.

Intelect rightly held that the contract between WMATA and the
carriers — Verizon, AT&T, T-Mobile and Sprint — required the
partnership to obtain an effective surety bond from the general
contractor, Powerwave, the judge said. Instead, Intelect said, the
carriers obtained only a nominal bond from Powerwave, which was not
enough to cover the missed payments to Intelect and others when the
contractor’s financial hardships began.

Judge Contreras said he remained uncertain about the carriers’
obligation to protect Intelect, but said at this stage at least,
the company had enough to pursue its case.

                   About Powerwave Technologies

Powerwave Technologies Inc. (NASDAQ: PWAV) filed for Chapter 11
bankruptcy (Bankr. D. Del. Case No. 13-10134) on Jan. 28, 2013.

Powerwave Technologies, headquartered in Santa Ana, Cal., is a
global supplier of end-to-end wireless solutions for wireless
communications networks.  The Company has historically sold the
majority of its product solutions to the commercial wireless
infrastructure industry.

The Company's balance sheet at Sept. 30, 2012, showed $213 million
in total assets, $396 million in total liabilities, and a $183
million total shareholders' deficit.

Aside from a $35 million secured debt to P-Wave Holdings LLC, the
Debtor owes $150 million in principal under 3.875% convertible
subordinated notes and $106 million in principal under 2.5%
convertible senior subordinated notes where Deutsche Bank Trust
Company Americas is the indenture trustee.  In addition, as of the
Petition Date, the Debtor estimates that between $15 and $25
million is outstanding to its vendors.

The Debtor is represented by attorneys at Proskauer Rose LLP and
Potter Anderson & Corroon LLP.

Prepetition secured lender, P-Wave Holdings LLC, is represented by
Martin A. Sosland, Esq., and Joseph H. Smolinsky, Esq., at Weil
Gotshal & Manges LLP; and Mark D. Collins, Esq., and John H.
Knight, Esq., at Richards Layton & Finger.

The Official Committee of Unsecured Creditors retained Sidley
Austin LLP; Young Conaway Stargatt & Taylor LLP; and Zolfo Cooper,
LLC.

The Debtor's patent portfolio, accounts receivable, and intangible
assets were purchased by secured lender P-Wave Holdings LLC in
exchange for $10.25 million in secured debt.  A consortium of
Counsel RB Capital LLC, The Branford Group and Maynards Industries
bought the machinery and equipment for $6.6 million.   Teak
Capital Partners Ltd. bought affiliate Powerwave Technologies
(Thailand) Ltd. for $50,000.


PREMIER EXHIBITIONS: Commences Trading on OTCQB Marketplace
-----------------------------------------------------------
Premier Exhibitions, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission that it received a letter from
the Listing Qualifications Department of the Nasdaq Stock Market
relating to the Company's merger transaction with Dinoking Tech
Inc.  The Notice informed the Company of Nasdaq's determination
that the Merger was a "Change of Control" pursuant to Nasdaq
Listing Rule 5110(a), and that the post-transaction entity was
required to submit a listing application satisfying Nasdaq's
initial listing criteria.  The Notice indicated that: (i) Nasdaq
was unable to complete its review of the Company's listing
application due to incomplete responses by the Company to certain
Nasdaq comments received Oct. 16, 2015; (ii) the Company did not
comply with the minimum $4 requirement for an initial listing, as
stated in Nasdaq Listing Rule 5505(a); and (iii) accordingly, that
Nasdaq intended to delist the Company.

The Company appealed the decision to a Nasdaq Hearings Panel and
was given additional time to comply with the listing standards.
However, the Company has determined that it will be unable to
comply with the listing requirements during this time period, and
informed the Nasdaq Panel of this determination.  As a result, on
Feb. 8, 2016, Nasdaq notified the Company of its decision to
suspend trading in the Company's securities effective at the open
of business on Feb. 10, 2016, and to delist the Company.

Effective Feb. 10, 2016, the common stock of the Company commenced
trading on the OTCQB marketplace.  The Company can provide no
assurance that its common stock will continue to trade on this
market, whether broker-dealers will continue to provide public
quotes of the Company's common stock on this market, or whether the
trading volume of the Company's common stock will be sufficient to
provide for an efficient trading market.

                  About Premier Exhibitions

Premier Exhibitions, Inc., develops, deploys and operates
exhibition products that are presented to the public in exhibition
centers, museums and non-traditional venues.  The Atlanta-based
Company's exhibitions generate income primarily through ticket
sales, third-party licensing, sponsorship and merchandise sales.

Premier Exhibitions reported a net loss of $11.7 million on $29.4
million of total revenue for the year ended Feb. 28, 2015, compared
with a net loss of $778,000 on $29.3 million of total revenue for
the year ended Feb. 28, 2014.

As of Aug. 31, 2015, the Company had $35.89 million in total
assets, $32.2 million in total liabilities, $2.66 million in equity
attributable to shareholders of the Company and $1.02 million in
equity attributable to non-controlling interest.


QUICKSILVER RESOURCES: Sells Oil Assets to BlueStone for $245-Mil.
------------------------------------------------------------------
A bankruptcy judge approved the sale of Quicksilver Resources
Inc.'s domestic oil and gas assets to BlueStone Natural Resources
II, LLC.

The order, issued by U.S. Bankruptcy Judge Laurie Silverstein,
allowed the oil and gas producer to sell its assets to the
Tulsa-based company, which made a $245 million offer.

BlueStone offered $240 million to acquire Quicksilver's oil and gas
assets located in the Barnett Shale in the Fort Worth basin of
North Texas, and $5 million for those assets located in the
Delaware basin in West Texas.

BlueStone emerged as the winning bidder at a court-supervised
auction that lasted 19 hours and stretched over two days.  

The company beat out rival bidder Barnett Shale Gas LLC, which made
a $250 million offer, comprised of $93 million in cash and $157
million in credit bid.  Barnett was designated as the "back-up
bidder," according to court papers.

The transaction is expected to close in the coming weeks.

The sale had drawn objections, most of which came from companies
with existing contracts with Quicksilver.   Many of these
objections had been resolved prior to court approval of the sale,
the company said in a filing.  

Quicksilver's official committee of unsecured creditors did not
file an objection but said in a statement that it would oppose any
credit bid that might be submitted by the company's second lien
lenders.

Quicksilver filed for bankruptcy protection in March 2015.  Since
its bankruptcy filing, the company has used the cash collateral of
its lenders to support its operations.  

On Dec. 14 last year, Judge Silverstein allowed the company to use
the cash collateral until April 30, 2016, despite opposition from
the unsecured creditors' committee.

The committee opposed Quicksilver's request to make cash payments
to the second lien lenders as "adequate protection," saying it
would further drain the company's cash.

Quicksilver and the second lien lenders defended the proposed
payment, arguing it is the "most appropriate form of adequate
protection" and is supported by law.

                  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.


REICHHOLD HOLDINGS: Gets Court Approval for PBGC Deal
-----------------------------------------------------
U.S. Bankruptcy Judge Mary Walrath approved an agreement between
Reichhold Holdings US, Inc. and the Pension Benefit Guaranty Corp.

Under the agreement, PBGC will get an administrative expense claim
of $950,000, and a general unsecured claim of $102 million.

                   About Reichhold Holdings US

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

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

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

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

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

The cases are assigned to Judge Mary F. Walrath.

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

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

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


RETROPHIN INC: Goldman Sachs Reports 5.4% Stake as of Dec. 31
-------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, The Goldman Sachs Group, Inc., and Goldman, Sachs & Co.
disclosed that as of Dec. 31, 2015, they beneficially own 1,945,467
shares of common stock of Retrophin Inc. representing 5.4 percent
of the shares outstanding.  A copy of the regulatory filing is
available for free at http://is.gd/QAp23m

                          About Retrophin

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

Retrophin reported a net loss of $111 million in 2014 following a
net loss of $34.6 million in 2013.  As of Sept. 30, 2015, the
Company had $512 million in total assets, $221 million in total
liabilities, and $291 million in total stockholders' equity.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
Dec. 31, 2014.  The accounting firm noted that the Company has
suffered recurring losses from operations, used significant
amounts of cash in its operations, and expects continuing future
losses.  In addition, at Dec. 31, 2014, the Company had
deficiencies in working capital and net assets of $70.2 million and
$37.3 million, respectively.  Finally, while the Company was in
compliance with its debt covenants at Dec. 31, 2014, it expects to
not be in compliance with these covenants in 2015.  These matters
raise substantial doubt about the Company's ability to continue as
a going concern, the auditors said.


RICEBRAN TECHNOLOGIES: Inks Joint Venture with Narula Group
-----------------------------------------------------------
RiceBran Technologies announced that it has entered into an
exclusive strategic supply agreement for organic rice bran and an
LLC Agreement for the formation of a jointly owned sales and
marketing entity with the Bangkok, Thailand based Narula Group of
Companies, one of the world's largest growers of organic rice,
which is controlled by social impact entrepreneur Arvind Narula.

Under the terms of the strategic supply agreement, RIBT will gain
exclusive worldwide supply and distribution rights for organic
jasmine rice bran and organic rice bran from other rice varieties
produced by the Narula Group.  The exclusive territory excludes
certain South East Asian markets, Germany and the United Kingdom,
which will continue to be serviced by Narula Group.

RIBT will purchase organic rice bran from the Narula Group at an
agreed price and the Narula Group will receive an additional amount
based on a portion of the achieved margin earned by RIBT on the
sale of products derived from that organic rice bran ("Achieved
Margin Share").  The Narula Group has agreed to accept the first
$2,660,000 of its Achieved Margin Share  through the issuance of
950,000 shares of RIBT's common stock at a fixed purchase price of
$2.80 per share ("Margin-for-Shares Mechanism"), representing a
premium of 52% to the closing price on the date immediately prior
to signing.  As the Narula Group earns RIBT common stock through
the Margin-for-Shares Mechanism, those earned shares shall be
released from escrow on a quarterly basis until such time as the
Achieved Margin Share is sufficient to purchase all 950,000
shares.

Additionally, a joint venture company owned 55% by RIBT and 45% by
the Narula Group is being established to market the Narula Group's
non-rice bran products in North America, including organic chia,
kale, coconut water and coconut products.  Results  for the newly
established joint venture will be consolidated into RIBT's
financial statements and profits will be shared on a proportional
ownership basis by the partners.  Both companies  expect to bring
additional organic products to market in North America in the near
future.

W. John Short, CEO and president of RIBT, commented: "According to
the NEXT Forecast 2016 published by New Hope Natural Media, sales
of natural, organic and functional foods reached $110 billion in
2014, or 15% of total US food and beverage sales; are the fastest
growing segment in the US food and beverage market; and are
experiencing double digit growth.  And within the natural, organic
and functional food segment, non-GMO products are gaining ground
even faster.  The agreements reached with the Narula Group add
organic rice bran and other healthy, natural and organic products
to our existing offerings of non-GMO, healthy and natural
functional food products and significantly broadening our product
range, putting RIBT in an even better position to take advantage of
rapidly developing consumer trends away from dietary supplements
and toward healthy whole food nutrition through functional foods
and ingredients."

Arvind Narula, president of the Narula Group, commented: "I have
spent the last 30 years developing a for-profit business model
based on organic products that gives back to the economically
disadvantaged and culturally indigenous groups who work with us to
grow our crops.  I am excited to enter into this strategic
relationship with RiceBran Technologies, a company that shares our
deeply held philosophy that businesses need to be socially and
environmentally responsible and give back to the communities where
they do business."

RIBT expects sales of high value, high margin organic rice bran and
organic non-rice bran products to launch in North America in the
second quarter of 2016 and become a significant driver of sales
growth in our USA Segment in the coming years.

A copy of the Exclusive Supply and Cooperation Agreement dated Feb.
8, 2016, is available for free at http://is.gd/cgZ4rH

                         About RiceBran

Scottsdale, Ariz.-based RiceBran Technologies, a California
corporation, is a human food ingredient and animal nutrition
company focused on the procurement, bio-refining and marketing of
numerous products derived from rice bran.

Ricebran incurred a net loss of $26.6 million in 2014 following a
net loss of $17.6 million in 2013.

As of Sept. 30, 2015, the Company had $35.5 million in total
assets, $27.2 million in total liabilities, $195,000 in temporary
equity and $8.14 million in total equity attributable to the
Company's shareholders.

Marcum, LLP, in New York, NY, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has suffered recurring
losses from operations resulting in an accumulated deficit of
$242.5 million at Dec. 31, 2014.  This factor among other things,
raises substantial doubt about its ability to continue as a going
concern.


RONA INC: DBRS Puts BB Rating Under Review With Pos. Implication
----------------------------------------------------------------
DBRS Limited placed the ratings of RONA inc. Under Review with
Positive Implications following the Company' announcement that it
has entered into a definitive agreement under which RONA will be
acquired by Lowe's Companies, Inc. for a total transaction value of
$3.2 billion. The total transaction value comprises Lowe's offer to
acquire RONA's issued and outstanding common shares for $24 per
share in cash as well as its issued and outstanding preferred
shares for $20 per share, plus RONA's outstanding debt.

The Transaction has been approved by RONA's board of directors and
is supported by its management team, but will be subject to
customary closing conditions including approval by RONA's
shareholders and regulators. RONA expects the Transaction to close
in Q2 2016. Lowe's has agreed to key commitments for RONA and its
stakeholders, including to headquarter its Canadian business in
Boucherville, Quebec; maintain RONA's store banners; continue
distribution to RONA's independent dealers; and employ the majority
of RONA's staff.

Rona's Under Review - Positive Implications status reflects Lowe's
current ratings (A (low) and R-1 (low) as rated by DBRS), the
intention to purchase RONA's outstanding preferred shares and the
assumption of RONA's outstanding senior unsecured debt. As of
September 27, 2015, RONA had approximately $313 million of senior
unsecured debt outstanding, consisting of $116 million of senior
unsecured debentures and $197 million drawn on its revolving credit
facility (maximum limit of $700 million). DBRS notes that the
Company's senior unsecured debentures will mature in October 2016.


DBRS will proceed with its review as more information becomes
available and aims to resolve the Under Review status by the
closing of the Transaction.

Issuer: RONA Inc.

Debt Rated       Rating   Rating     Trend  Recovery   Published
Issued
                            Action                     Rating      
                                                       Issuer
Rating     UR-Pos.  BB (high)   --               Feb 3, 2016 CA E
Senior Unsecured  UR-Pos.  BB (high)   --    RR3        Feb 3, 2016
CA E
Debt
Preferred Shares  UR-Pos.  Pfd-4(high) --               Feb 3, 2016
CA E


ROTHSTEIN ROSENFELDT: Sale of Florida Mansion Gets Court's Nod
--------------------------------------------------------------
Vince Sullivan at Bankruptcy Law360 reported that a Florida federal
judge on Feb. 3, 2016, approved the sale of a Boca Raton mansion as
part of the ongoing liquidation of Rothstein Rosenfeldt Adler PA
caused by the revelation of a $1.2 billion Ponzi scheme perpetrated
by one of the firm's partners.

U.S. Bankruptcy Judge Raymond B. Ray approved a bid and sale
process for the 12,000-square-foot property at the Boca Raton Golf
Club after a stalking horse bidder offered $2.5 million for the
property, which was relinquished after partner Scott Rothstein was
charged.

                    About Rothstein Rosenfeldt

Scott Rothstein, co-founder of law firm Rothstein Rosenfeldt Adler
PA -- http://www.rra-law.com/-- was suspected of running a       
$1.2 billion Ponzi scheme.  U.S. authorities claimed in a civil
forfeiture lawsuit filed Nov. 9, 2009, that Mr. Rothstein, the
firm's former chief executive officer, sold investments in non-
existent legal settlements.  Mr. Rothstein pleaded guilty to five
counts of conspiracy and wire fraud on Jan. 27, 2010.

Creditors of Rothstein Rosenfeldt Adler signed a petition sending
the Florida law firm to bankruptcy (Bankr. S.D. Fla. Case No.
09-34791).  The petitioners include Bonnie Barnett, who says she
lost $500,000 in legal settlement investments; Aran Development,
Inc., which said it lost $345,000 in investments; and trade
creditor Universal Legal, identified as a recruitment firm, which
said it is owed $7,800.  The creditors alleged being owed money
invested in lawsuit settlements.

Herbert M. Stettin, the state-court appointed receiver for
Rothstein Rosenfeldt, was officially carried over as the
Chapter 11 trustee in the involuntary bankruptcy case.

On June 10, 2010, Mr. Rothstein was sentenced to 50 years in
prison.

The official committee of unsecured creditors appointed in the
case is represented by Michael Goldberg, Esq., at Akerman
Senterfitt.

RRA won approval of an amended liquidating Chapter 11 plan
pursuant to the Court's July 17, 2013 confirmation order.  The
revised plan, filed in May, is centered around a $72.4 million
settlement payment from TD Bank NA.


RYCKMAN CREEK: Okayed to Get $3 Million Bridge Loan
---------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge gave natural gas storage company Ryckman Creek
Resources LLC the nod on Feb. 3, 2016, to temporarily fund its
Chapter 11 case with a $3 million bridge loan as it works to
finalize a postpetition loan 10 times that size and restructure
more than $300 million in debt.  During a hearing in Wilmington,
U.S. Bankruptcy Judge Kevin J. Carey gave his stamp to the loan
being extended by ING Capital LLC, which administers the bulk of
Ryckman's prepetition bank debt.

                           About Ryckman

Ryckman Creek Resources, LLC, Ryckman Creek Resources Holdings
LLC,
Peregrine Rocky Mountains LLC and Peregrine Midstream Partners LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos.
16-10292 to 16-10295) on Feb. 2, 2016.  The petitions were signed
by Robert Foss as chief executive officer.  Kevin J. Carey has
been
assigned the case.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP
as counsel, AP Services, LLC as management provider, Evercore
Group
LLC as investment banker, and Kurtzman Carson Consultants LLC as
claims and noticing agent.

The Debtors estimated both assets and liabilities in the range of
$100 million to $500 million.  As of the Petition Date, Ryckman
had
approximately $333 million of prepetition bank debt.


SAMUEL E. WYLY: Denies Liability in Atty's $2.2-Bil. Tax Row Theory
-------------------------------------------------------------------
Brandon Lowrey at Bankruptcy Law360 reported that business tycoon
Sam Wyly and his sister-in-law Dee Wyly told a Texas bankruptcy
court on Feb. 5, 2016, that they can't be held responsible for what
their former attorney knew about alleged tax evasion schemes in a
$2.2 billion row with the Internal Revenue Service.  Following a
three-week trial, the Wylys contended that the government can't
prove the fraud allegations against them without showing they were
willful in the tax avoidance scheme, and that former Wyly attorney
Mike French's knowledge about transactions designed to evade taxes
shouldn't be attributed.

                         About Sam Wyly

Sam Wyly is a lifelong entrepreneur and author.  His first book,
1,000 Dollars & An Idea, is a biography that tells his story of
creating and building companies, including University Computing,
Michaels Arts & Crafts, Sterling Software, and Bonanza Steakhouse.
His second book, Texas Got It Right!, co-authored with his son,
Andrew, was gifted to roughly 450,000 students and teachers,
thought leaders, and readers, and continues to be a best-seller in
its Amazon category.

Samuel Wyly filed for Chapter 11 bankruptcy protection (Bankr.
N.D. Tex. Case No. 14-35043) on Oct. 19, 2014, weeks after a judge
ordered him to pay several hundred million dollars in a civil
fraud case.  In September 2014, a federal judge ordered Mr. Wyly
and the estate of his deceased brother to pay more than $300
million in sanctions after they were found guilty of committing
civil fraud to hide stock sales and nab millions of dollars in
profits.

                        About Caroline Wyly

Caroline Wyly is the widow of business tycoon Charles Wyly.  She
and her brother-in-law Sam Wyly sought Chapter 11 bankruptcy
protection as leverage to settle a looming tax bill and a $329
million claim from the Securities and Exchange Commission.  Her
bankruptcy is In re Caroline D. Wyly, 14-35074, in U.S. Bankruptcy
Court, Northern District Texas (Dallas).


SANMINA CORP: Fitch Affirms 'BB+' IDR Then Withdraws Rating
-----------------------------------------------------------
Fitch Ratings has affirmed and withdrawn these ratings for Sanmina
Corporation:

   -- Long-Term Issuer Default Rating (IDR) at 'BB+':
   -- Senior Secured Revolver Credit Facility (RCF) at 'BBB-/RR1';
   -- Senior Secured Notes at 'BB+/RR3'.

Fitch has withdrawn Sanmina's ratings for commercial reasons. Fitch
reserves the right in its sole discretion to withdraw or maintain
any rating at any time for any reason it deems sufficient.

                       KEY RATING DRIVERS

Fitch expects steady operating performance through the intermediate
term, driven by increasing exposure to faster-growing emerging end
markets, including industrial, defense and automotive.  Profit
margins and annual free cash flow (FCF) should expand with a higher
mix of emerging end-market sales, which are characterized by higher
profit margins and longer product lifecycles.

Strength in Sanmina's industrial, medical and defense end markets
(roughly 40% of total sales) should continue, with design wins
adding to growing electronics content.  Fitch expects
communications and networks end markets (35%-40% of sales) will
remain uneven given cyclical wireless carrier spending.  Embedded
computing and storage markets should benefit from increasing
electronic content in the automotive and other non-technology
sectors and data center growth.

Increased penetration of emerging industrial, defense and
automotive end markets and investments in Components, Products and
Service segment (CPS) should drive positive low-single-digit
mid-cycle revenue growth over the longer term.  In addition, Fitch
expects the increased mix of faster growing and higher gross margin
CPS sales will drive mid-cycle profitability higher, although
operating EBITDA margins will remain in the mid-single digits,
consistent with the operating profile of the electronics
manufacturing services (EMS) industry.

Fitch estimates operating EBITDA margin was 5.3% for the latest 12
months (LTM) ended Jan. 2, 2016, versus 5.4% for the prior year,
driven by negative year-over-year top-line growth.  Fitch expects
annual FCF of more than $200 million, although quarterly FCF will
remain uneven, given higher the inventory levels that come with
larger-scale new program ramps.

Fitch expects Sanmina will use FCF for share repurchases and small
technology-focused acquisitions, targeting new capabilities and
customer relationships.  Fitch expects future acquisitions to be
similar in size and funded with FCF.  Beyond acquisitions, $175.2
million remains available for repurchase as of Jan. 2, 2016 under
Sanmina's current share repurchase authorization.

Fitch expects Sanmina will maintain strong credit protection
measures for the rating, including total leverage (total debt to
operating EBITDA) below 2x and FCF-to-total debt of more than 20%.
For the LTM ended Jan. 2, 2015, Fitch estimates total leverage was
1.6x and FCF-to-total debt was 24%, versus 1.4x and 36% in the
comparable prior year period.

The ratings are supported by:

   -- Favorable industry trends toward increased outsourcing in
      underpenetrated markets for product design consultation,
      component sourcing, manufacturing, fulfillment, logistic and

      repair/reverse logistics.

   -- Significant capabilities in low-volume, high mix design and
      assembly, positioning Sanmina to gain share in non-
      traditional end markets.

   -- Consistent annual FCF from profitability expansion during
      positive demand environments and cash generation from lower
      inventory levels in a downturn.

Ratings concerns center on:

   -- Low mid-cycle profit margins associated with the EMS model,
      resulting in minimal room for execution missteps.

   -- Ongoing volatility associated with revenues in more project-
      oriented legacy networking and communications end markets,
      although this revenue contribution should continue to
      decline.

   -- Customer concentration with Sanmina's top 10 customers
      representing roughly half of revenues, in line with the EMS
      industry.

                          KEY ASSUMPTIONS

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

   -- Low-single-digit revenue growth for the fiscal year ending
      Sept. 30, 2016, and longer term, driven by increased
      penetration of emerging markets.

   -- Operating EBITDA margin in the 5%-5.5% range, driven by an
      increasing mix of higher margin emerging markets sales.

   -- Consistent inventory turns and capital spending, resulting
      in annual FCF of $100 million to $250 million.

   -- Limited incremental debt reduction through the forecast
      period and FCF used primarily for acquisitions and share
      repurchases, given sufficient cash levels.

                        RATING SENSITIVITIES

Rating sensitivities are no longer relevant given today's rating
withdrawal.

                             LIQUIDITY

Sanmina's liquidity was solid as of Jan. 2, 2016, and supported
by:

   -- $398 million of cash and short-term investments, roughly
      half of which is in the U.S.;

   -- $267 million available under a $375 million senior secured
      cash flow revolver due May 20, 2020.

Fitch's expectation for $100 million to $250 million of annual FCF
also supports liquidity.

Total debt was $514 million as of Jan 2, 2016 and consisted of:

   -- $40 million loan secured by the company's corporate campus
      due December 2017;

   -- $375 million of senior secured 4.375% notes due June 2019;

   -- $12.5 million of non-interest bearing notes payable;

   -- $86 million of borrowings under the RCF.

Fitch has affirmed and withdrawn these ratings:

Sanmina Corporation

   -- Long-Term IDR at 'BB+'';
   -- RCF at 'BBB-/RR1';
   -- Senior secured notes at 'BB+/RR3'.


SANTA FE GOLD: Plan Filing Exclusivity Ends March 23
----------------------------------------------------
BankruptcyData reported that the U.S. Bankruptcy Court approved
Santa Fe Gold's motion to extend the exclusive period during which
the Company can file a Chapter 11 plan and solicit acceptances
thereof through and including March 23, 2016 and May 23, 2016,
respectively.

As previously reported, "The Debtors' pursuit of a sale of their
assets, and the significant and time-intensive nature of the tasks
that the Debtors' professionals and employees will be tackling over
the next several months related to the sale, extending the
Exclusive Periods is justified. Indeed, under the current sale
timeline, the hearing on the sale of the Debtors' assets will not
take place until January 14th...after the expiration of the current
Plan Period.  Further, extending the Exclusive Periods will
facilitate an orderly and cost-effective process for the benefit of
all creditors by providing the Debtors with a meaningful
opportunity to build on the progress that has been made in these
Chapter 11 Cases without unnecessary interference from non-debtor
parties. Termination of the Exclusive Periods, on the other hand,
would give rise to the threat of competing plans, resulting in
increased administrative expenses that would diminish the value of
the Debtors' estates to the detriment of creditors. Termination of
the Exclusive Periods could also meaningfully delay, if not
completely undermine, the Debtors' ability to confirm any plan."

                       About Santa Fe Gold

Santa Fe Gold Corporation and three affiliated entities, a group
of mining and mineral exploration companies headquartered in
Lordsburg, New Mexico, filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Lead Case No. 15-11761) on Aug. 26, 2015, to
pursue an expedited sale of their assets in order to maximize value
for all stakeholders.

The case is pending before the Honorable Mary F. Walrath.  The
cases are being jointly administered for procedural purposes.  The
Debtor continues to operate its business and manage its properties
as a debtor-in-possession.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
counsel; Canaccord Genuity Group Inc., as financial advisor; and
American Legal Claim Services, LLC, as notice, claims, and
solicitation agent.

Santa Fe Gold disclosed $19.1 million in assets and $29.9 million
in debt as of March 31, 2015.


SEABOARD REALTY: Parties Say Newbury Case Like Ponzi Scheme
-----------------------------------------------------------
Jeff Montgomery at Bankruptcy Law360 reported that parties on both
sides of a Connecticut real estate consortium's unfolding Chapter
11 case on Feb. 5, 2016, likened it to a Ponzi scheme, as a
Delaware bankruptcy judge pressed creditors and the Debtors to work
out an emergency funding compromise for the group's cash-short
commercial and residential properties.

The comments surfaced as a representative of Stamford,
Connecticut-based Newbury Common Associates LLC and 24 other
companies struggled to explain and identify debts that remain
vaguely summed up as $100 million to $500 million.

                      About Seaboard Realty

Seaboard Realty LLC and certain of its affiliates on Dec. 13,

2015, filed petitions with the United States Bankruptcy Court for
the District of Delaware seeking protection under Chapter 11 of the
United States Bankruptcy Code.

Seaboard and its affiliates own a portfolio of first class
commercial real estate in Stamford, Connecticut, including office,
residential and hotel properties.  All operations are expected to
continue as normal throughout this process.

The Chapter 11 filing includes Seaboard Realty LLC and a number of
affiliates it manages, which own the equity of subsidiaries that
directly own the properties, but does not include the
property-owning subsidiaries themselves.

Seaboard Realty LLC is owned by John DiMenna, Thomas Kelly and
William Merritt.  Mr. DiMenna actively managed the Seaboard
operations as the managing member of Seaboard Realty LLC, and
managed the properties owned by its affiliates through a
property-management company owned solely by Mr. DiMenna.

The Debtors have sought and obtained an order authorizing joint
administration of their Chapter 11 cases, with all further
pleadings or other papers to be filed in the case of Newbury
Common Associates, LLC, Case No. 15-12507 (LSS).

On Feb. 3, 2016, Newbury Common Member Associates and eight
affiliated debtors filed for Chapter 11 protection.  The filings
are related to the December 2015 bankruptcy of Seaboard Realty and
14 affiliated debtors, and the current bankruptcies are seeking
joint administration with the December 2015 proceedings under Lead
Case No. 15-12508.

The Debtors tapped Dechert LLP as counsel and directing
the accounting firm of Anchin, Block and Anchin as forensic
accountant.


SEARS HOLDINGS: Provides Fourth Quarter Financial Update
--------------------------------------------------------
Sears Holdings Corporation provided an update on our fourth quarter
performance, financial position and actions intended to enhance our
liquidity and business operations.

Estimated Fourth Quarter Performance

The Company entered the holiday selling season with key product
offerings and promotions intended to build engagement with its
members and provide them with the best experience possible.  The
holiday selling season proved to be challenging, with historically
warm weather and intense competition pressuring margins and driving
comparable store sales declines, particularly in the Company's
apparel and related softlines businesses.

The Company expects total revenues of $7.3 billion and $25.1
billion for the fourth quarter and full-year of 2015, respectively.
The Company expects that its fourth quarter Adjusted EBITDA,
excluding Seritage and joint venture rents, will range between
$(100) million and $(50) million, compared to Adjusted EBITDA of
$125 million in the fourth quarter of 2014.  The Company has
provided a reconciliation of Adjusted EBITDA, a non-GAAP financial
measure, to net loss attributable to Holdings' shareholders.

The Company's fourth quarter comparable store sales showed an
improvement from the trend in the first three quarters, and January
2016 was our best monthly comparable store sales performance of the
year (-4.5%).

The operating performance of the Company's apparel business has a
substantial impact on our overall profitability, and, in 2016 and
future periods, the Company intends to improve the performance of
our apparel business through changes to its sourcing, product
assortment, space allocation, pricing and inventory management
practices.

Financial Position and Focus on Operating Performance

Based on this performance, the Company is taking further actions to
accelerate its transformation, which is focused on its Shop Your
Way membership program and its Integrated Retail offerings. The
Company will accelerate the closing of unprofitable stores,
including, but not limited to, roughly 50 stores that the Company
recently announced would be closing in the next few months.  The
Company also intend to continue to evaluate and optimize its cost
structure, including optimizing store-level marketing expenditures
and overall staffing levels, and the Company will be taking action
to reduce its fixed costs, and to improve its inventory management
and gross margin realization.

The Company expects to report year-over-year expense reductions of
between $135 million and $155 million for the fourth quarter of
2015, and for the full year, the Company expects expenses will
decline by between $765 million and $790 million versus the prior
year.  Looking toward 2016, the Company plans to take actions that
will further reduce its costs by between $550 million and $650
million, depending on the overall volume of sales.

The Company has significantly reduced its net debt (including
unfunded pension and postretirement benefit obligations) by
approximately $1.0 billion compared to year-end 2014.  The sale of
266 properties to Seritage raised significant cash for Sears
Holdings, which the Company used to reduce its debt, fund its
pension plan and to absorb operating losses.  While the Company
does have lease obligations associated with the sale-leaseback
transaction with Seritage, the Company expects the nature of the
leases will lead to substantially reduced lease expense over the
next few years.  The Company expects that its rent obligations will
decrease significantly as space in these stores is recaptured as
permitted under the terms of the leases.  The Company separates the
reporting of the Seritage rent expense to allow investors and other
stakeholders to better understand these costs and to allow them to
track how the rents decline over time.

In addition to the expense actions and store closing actions
referred to above, the Company will be targeting at least $300
million of other asset sales during the first half of fiscal year
2016.  The Company has a significant asset base, including a
variety of businesses and a vast real estate portfolio.  The
specific assets involved, the timing of the sales, and the overall
amount will depend on a variety of factors, including market
conditions, interest in specific assets, valuations of those assets
and the Company's underlying operating performance.  As previously
disclosed, the Company is also considering options for its Sears
Auto Center business which could include the sale of the business
in whole or in part.

Finally, the Company will continue to consider its overall capital
structure and its liquidity position with a goal of creating
long-term value and funding its transformation.  This may include
near-term actions to bolster liquidity given the flexibility the
Company has to raise up to $1.0 billion under the accordion feature
in its credit facility, up to $500 million of FILO capacity and up
to $2.0 billion of 2nd lien capacity, all depending on the
applicable and available borrowing base as defined in its credit
agreement.  Actions may also include borrowings under our $750
million short-term basket as permitted under the credit agreement
and may include real estate backed financings to secure either
short-term or long-term borrowings.

The Company's intention is not to borrow money to fund continued
operating losses, but instead to provide the Company flexibility as
it transitions from a traditional network based model to a more
asset light member-centric integrated retailer leveraging its Shop
Your Way program.  As part of this transformation, the Company
intends to optimize the value of its assets and to take actions
that will generate positive Adjusted EBITDA in the near future.
Generating positive Adjusted EBITDA is the Company's most important
focus during 2016.  This may require the Company to take additional
actions over-and-above those described above.

Indefinite-lived Trade Name Impairment

In addition, the Company is performing its annual testing of
goodwill and indefinite-lived intangible assets.  In the Company's
quarterly reports on Form 10-Q filed in 2015, the Company disclosed
that if results continued to decline, it could result in revisions
in its estimates of the fair value of the Company's trade names and
may result in future impairment charges.  As a result of continued
declines in revenue experienced in the fourth quarter, and based on
the preliminary results of the Company's annual trade name
impairment review, which includes the impact of store closures, the
Company anticipates an estimated impairment related to the Sears
trade name of between $150 million and $200 million.  The non-cash
accounting charge will not impact the Company's liquidity, cash
flows or compliance with debt covenants.

Fourth Quarter Earnings Release

The Company currently plans to release financial results or post
materials to http://searsholdings.com/investfor its fiscal 2015
fourth quarter and full year on or about Feb. 25, 2016, before the
market opens.

                           About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The Company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

For the year ended Jan. 31, 2015, the Company reported a net loss
attributable to Holdings' shareholders of $1.68 billion compared
to a net loss attributable to Holdings' shareholders of $1.36
billion for the year ended Feb. 1, 2014.

As of Oct. 1, 2015, Sears Holdings had $12.76 billion in total
assets, $14.06 billion in total liabilities and a $1.29 billion
total deficit.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to 'Caa1' from 'B3'.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period.  For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year.  Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014.  "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SHAI SHAWN TAMIR: Banks' Claims are Secured, Court Rules
--------------------------------------------------------
Shai Shawn Tamir filed a Chapter 11 petition with the Bankruptcy
Court for the District of Maine.  His schedules of assets and
liabilities included mortgaged apartment buildings.  Under Schedule
D (creditors holding secured claims), Tamir listed -- as disputed
-- HSBC Bank and Citibank.  Thereafter, each bank filed a proof of
claim asserting its secured claim, and Tamir filed an omnibus
objection to the claims.  Tamir argued that the bank creditors
could not hold secured claims against him because they lacked
standing to foreclose given that each held its mortgage by
assignment from MERS.

The Bankruptcy Court ultimately overruled Tamir's objection and
allowed the banks' amended POCs as secured claims, reasoning that
the fact that the banks may not have standing to foreclose their
mortgages on Tamir's properties is not a basis for determining the
validity of their secured claims in the Chapter 11 case.  The
Bankruptcy Court concluded that for purposes of asserting a secured
claim in a borrower's bankruptcy case, a noteholder's beneficial
ownership of the mortgage is sufficient to establish secured
status.  A timely appeal followed.

In a Memorandum Decision and Order dated January 22, 2016, which is
available at http://is.gd/emxOjjfrom Leagle.com, Judge D. Bronck
Hornby of theUnited States District Court for the District of Maine
affirmed the Bankruptcy Court's decision.

The case is SHAI SHAWN TAMIR, APPELLANT v. UNITED STATES TRUSTEE,
ET AL., APPELLEES, Civil No. 2:15-CV-333-DBH (D. Maine).

SHAI SHAWN TAMIR, Appellant, is represented by DAVID C. JOHNSON,
Esq. -- djohnson@mcm-law.com -- MARCUS, CLEGG & MISTRETTA, P.A. &
JENNIE L. CLEGG, Esq. -- jclegg@mcm-law.com -- MARCUS, CLEGG &
MISTRETTA, P.A..


SHAPPHIRE RESOURCES: Entitled to Turnover of Calif. Property
------------------------------------------------------------
The adversary proceeding captioned SHAPPHIRE RESOURCES, LLC, a Utah
limited liability company, Plaintiff, v. STANLEY TAMBINGON, an
Individual, Defendant, Adv. No. 2:12-ap-02532-RK (Bankr. C.D.
Calif.) for turnover of real property and for declaratory relief
came on for trial on March 13, 2015, April 30, 2015 and July 29,
2015.  Plaintiff Shapphire Resources, LLC, brought the adversary
proceeding seeking declaratory relief that it has the ownership
interest and right to possession in the property located at 2770
Cold Plains Drive, in Hacienda Heights, California, and turnover of
the Property from Defendant Stanley Tambingon.

In a Findings of Fact and Conclusions of Law after trial dated
January 25, 2016, which is available at http://is.gd/3G4Sjbfrom
Leagle.com, Judge Robert Kwan of the United States Bankruptcy Court
for the Central District of California, Los Angeles Division,
determined that Shapphire Resources has met its burden of proving
by a preponderance of the evidence that it is entitled to turnover
of the Property by Mr. Tambingon on its claim and for declaratory
relief that it is the owner of the Property and is entitled to
judgment on its claims.

The bankruptcy case is In re: SHAPPHIRE RESOURCES, LLC, Chapter 11,
Debtor, Case No. 2:10-bk-57493-RK (Bankr. C.D. Calif.).



SIGNAL INTERNATIONAL: Wants Removal Period Extended to May 6
------------------------------------------------------------
A U.S. bankruptcy court is set to hear a motion filed by GGG
Partners LLC to extend the deadline to remove lawsuits involving
Signal International Inc. and its affiliates.

The U.S. Bankruptcy Court for the District of Delaware will take up
the motion at a hearing on Feb. 22.

On Jan. 6, GGG Partners, the firm overseeing the Signal Liquidating
Trust, filed the motion in which it proposed to extend the deadline
to May 6, 2016.

The extension, if granted, would give the trustee enough time to
make informed decisions concerning removal of the lawsuits,
according to its lawyer, Travis Buchanan, Esq., at Young Conaway
Stargatt & Taylor LLP, in Wilmington, Delaware.

Mr. Buchanan said that his firm did not receive any objection to
the proposed extension prior to the Jan. 20 objection deadline.

GGG Partners is considered a "judicial substitute" for Signal
International and its affiliates pursuant to a liquidating plan,
which was confirmed by the bankruptcy court on Nov. 24, 2015.  The
plan went effective on Dec. 14, 2015.

                   About Signal International

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

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

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

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

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

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

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


SPENDSMART NETWORKS: Has 38.3M Shares of Common stock Outstanding
-----------------------------------------------------------------
Spendsmart Networks, Inc., filed a final amendment to its
Tender Offer Statement on Schedule TO filed with the Securities and
Exchange Commission relating to an offer by SpendSmart to amend
warrants to purchase an aggregate of 21,634,695 shares of common
stock including:

   (i) outstanding warrants to purchase an aggregate of 17,918,675

       shares of the Company's common stock issued to investors
       who participated in the Company's private placement
       financing closed on Feb. 11, 2014, Feb. 21, 2014, March 6,
       2014, and March 14, 2014;

  (ii) outstanding warrants to purchase an aggregate of 1,711,106
       shares of the Company's common stock issued to investors
       who participated in the Company's private placement
       financings closed on Nov. 30, 2012, July 19, 2012, June 20,
       2012, May 24, 2012 and March 31, 2012, as well as warrants
       issued to the placement agent in connection with such
       financings;

(iii) outstanding warrants to purchase an aggregate of 1,569,935
       shares of the Company's common stock issued to investors
       who participated in the Company's private placement
       financing completed on Jan. 19, 2011, May 20, 2011,
       Oct. 21, 2011, and Nov. 21, 2011, as well as warrants
       issued to the placement agent; and

  (iv) outstanding warrants to purchase an aggregate of 434,979
       shares of the Company's common stock issued to investors
       who participated in the Company's private placement
       financings closed on Nov. 16, 2010, upon the terms set
       forth in the Offer to Amend and Exercise Warrants dated
       Dec. 4, 2015, and as amended and supplemented by Amendment
       No. 1 and Amendment No. 2.

This is the final amendment to the Schedule TO and is being filed
to report the results of the Offer to Amend and Exercise. The
following information is filed pursuant to Rule 13e-4(c) of the
Securities Exchange Act of 1934, as amended.  Except as otherwise
set forth below, the information included in the Schedule TO, as
amended by this Amendment No. 3, remains unchanged and is
incorporated by reference herein as relevant to the items in this
Amendment No. 3.

The Offer to Amend and Exercise expired at 5:00 p.m. Eastern Time
on Feb. 5, 2016.  Pursuant to the Offer to Amend and Exercise, an
aggregate of 16,172,144 Original Warrants were tendered by their
holders and were amended and exercised in connection herewith for
an aggregate exercise price of approximately $2,425,822 following
the amendment and exercise of the 16,172,144 Original Warrants, the
Company has 38,271,281 shares of common stock issued and
outstanding.

                     About SpendSmart Networks

SpendSmart Networks, Inc., provides proprietary loyalty systems
and a suite of digital engagement and marketing services that help
local merchants build relationships with consumers and drive
revenues.  These services are implemented and supported by a vast
network of certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing, mobile commerce
and financial tools, such as prepaid card and reward systems.  We
enter into licensing agreements for our proprietary loyalty
marketing solution with "Certified Masterminds" which sell and
support the technology in their respective markets.  The Company's
products aim to make Consumers' dollars go further when they spend
it with merchants in the SpendSmart network of merchants, as they
receive exclusive deals, earn rewards and ultimately build a
connection with their favorite merchants.

SpendSmart Networks incurred a net loss of $12.2 million on $4.03
million of total revenues for the year ended Dec. 31, 2014,
compared to a net loss of $14.09 million on $0 of total revenues
for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $8.52 million in total
assets, $4.48 million in total liabilities and $4.04 million in
total stockholders' equity.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has recurring net
losses since inception and has yet to establish a profitable
operation.  These factors among others raise substantial doubt
about the ability of the Company to continue as a going concern.


SPRINGMORE II: $30K Interim Payment for Administrative Fees Okayed
------------------------------------------------------------------
Springmore II, LLC, sought and obtained from Judge Frank W. Volk of
the U.S. Bankruptcy Court for the Southern District of West
Virginia, authorization for the distribution of sale proceeds held
in trust for the interim payment of administrative claims.

Judge Volk directed the Debtor's counsel to disburse $30,000 of the
sale proceeds held in trust on a pro-rata basis for payment of the
outstanding fees of the Office of the U.S. Trustee, and the
approved fees of John Smith, CPA, and the approved fees and
expenses of Supple Law Office, PLLC.

The Debtor related that the Court had approved the sale of its
hotel located in Wytheville, Virginia free and clear of liens for
the sum of $730,000.  The Debtor further related that City National
Bank held a first deed of trust against the hotel in the amount of
$1.1 million, but agreed to carve-out the sum of $30,000 for the
payment of approved professional fees and U.S. Trustee fees.  The
Debtor added that the Court authorized the $30,000 carve-out.  The
Debtor contended that the sale of its assets closed and funds in
the amount of $30,000 were paid to its counsel and deposited in
trust.

The Debtor told the Court that its accountant, John Smith, has
approved but unpaid accounting fees of $12,475 and that unpaid U.S.
Trustee fees total $5,975, and Debtor's co-counsel, Joe M. Supple,
has a compensation application pending before the Court in the
amount of $18,165 for the period ending Oct. 9, 2015.

Springmore II is represented by:

          Joe M. Supple, Esq.
          SUPPLE LAW OFFICE, PLLC
          801 Viand Street
          Point Pleasant, WV 25550
          Telephone: (304)675-6249

                       About Springmore II

Bettye J. Morehead, Brown Edwards & Co., and DBK Investments &
Development Corporation, filed an involuntary petition for Chapter
11 against Wytheville, Virginia-based Springmore II, LLC (Bankr.
S.D. W.Va. Case No. 13-50064) on April 1, 2013.  Judge Ronald G.
Pearson presides over the case.  Joe M. Supple, Esq., at Supple
Law Office, PLLC, in Point Pleasant, West Virginia, represents the
petitioners as counsel.

The Court entered a default order for relief on May 1, 2013.

George L. Lemon, Esq., represents the Debtor as counsel.

The U.S. Trustee has been unable to appoint a committee of
unsecured creditors.


SUNDEVIL POWER: Case Summary & 12 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                     Case No.
      ------                                     --------
      Sundevil Power Holdings, LLC               16-10369
      701 East Lake Street Suite 300
      Wayzata, MN 55391

      SPH Holdco LLC                             16-10370

Type of Business: Merchant Power Generators

Chapter 11 Petition Date: February 11, 2016

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

Judge: Hon. Kevin J. Carey

Debtors' Legal              David S. Meyer, Esq.
Counsel:                    Jessica C. Peet, Esq.
                            Lauren R. Kanzer, Esq.
                            VINSON & ELKINS LLP
                            666 Fifth Avenue, 26th Floor
                            New York, NY 10103-0040
                            Tel: (212) 237-0000
                            Fax: (212) 237-0100
                            Email: dmeyer@velaw.com
                                   jpeet@velaw.com
                                   lkanzer@velaw.com

                              - and -

                            Paul E. Heath, Esq.
                            Reese A. O'Connor, Esq.
                            VINSON & ELKINS LLP
                            Trammell Crow Center
                            2001 Ross Avenue, Suite 3700
                            Dallas, TX 75201
                            Tel: (214) 220-7700
                            Fax: (214) 220-7716
                            Email: pheath@velaw.com
                                   roconnor@velaw.com

Debtors'                    Steven K. Kortanek, Esq.
Local                       Howard Cohen, Esq.
Counsel:                    DRINKER BIDDLE & REATH LLP
                            Joseph N. Argentina, Jr.
                            222 Delaware Avenue, Suite 1400
                            Wilmington, DE 19801
                            Tel: (302) 467-4200
                            Fax: (302) 467-4201
                            Email: howard.cohen@dbr.com
                                   Steven.Kortanek@dbr.com

Debtors'                    GARDEN CITY GROUP
Claims and                  P.O. Box 10267
Noticing                    Dublin, Ohio 43017-5767
Agent:                      Tel: (855) 907-3217
                            Email: SNDInfo@gardencitygroup.com

Estimated Assets: $100 million to $500 million

Estimated Debts: $100 million to $500 million

The petition was signed by Blake M. Carlson, authorized signatory.

List of Sundevil Powers 12 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Paradigm Tax Group                  Trade Payable    Undetermined
3030 N Central Ave
Ste 1001
Phoenix, AZ 85012

Maricopa County Treasurers Office       Taxes          $2,461,006
301 W Jefferson Ste 100
Phoenix, AZ 85003

Gila Bend Operations Co, LLC         Trade Payable     $1,032,887
c/o Entegra Power Group, LLC
100 S Ashley DR Ste 1400
Tampa, FL 33602

Transwestern Pipeline Company        Trade Payable       $415,400
1300 Main
Houston, TX 77002

EDF Trading North America, LLC       Trade Payable       $266,000
4700 W Sam Houston Parkway N
Houston, TX 77041

El Paso Natural Gas Company LLC      Trade Payable       $160,600
PO Box 1087
Colorado Spings, CO 80994

Gila River Power                     Trade Payable        $25,000

Praxair Distribution Inc.            Trade Payable        $10,000

State of Arizona Deparment of           Taxes              $7,500
Revenue

Arizona Public Service Electric      Trade Payable         $7,000
Company

Bank of America                      Trade Payable         $3,200

Stinson Leonardo Street LLP          Trade Payable         $1,000


SUNDEVIL POWER: Files for Chapter 11 Petition to Seek Buyer
-----------------------------------------------------------
Merchant power generators Sundevil Power Holdings, LLC and SPH
Holdco LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case Nos. 16-10369 and 16-10370,
respectively), with the goal of pursuing a sale of all or
substantially all of their assets or equity interests through
Section 363 of the Code.

Headquartered in Wayzata, Minnesota, the Debtors own two of the
four 550 megawatt natural gas-fired power blocks of the Gila River
Power Station, located in Gila Bend, Arizona.  Sundevil is a wholly
owned subsidiary of SPH Holdco, which is jointly owned by the
Wayzata Funds.  Sundevil was formed for the purpose of purchasing
Power Blocks I and II of the GRPS.  SPH Holdco was formed for the
purpose of owning the equity interests in Sundevil and facilitating
a secured financing.  Sundevil is a party to a number of material
project contracts relating to the management and operation of Power
Blocks I and II ("Project Assets").

Raphael T. Wallander, principal at Wayzata Investment Partners LLC,
the Debtors' manager, said the combination of lower than
anticipated power demand growth, declining natural gas prices,
increased distributed generation (rooftop solar), slower than
expected retirement of older, inflexible coal-fired generation and
a substantial buildout of utility scale renewable energy sources
have contributed to the Debtors' inability to generate sufficient
revenue and liquidity to continue to maintain their capital
structure on a long term basis.

As disclosed in the filing, due to continued losses, the Debtors
began considering strategic alternatives in early 2015 and in June
2015, commenced an effort to market their assets or equity
interests outside of bankruptcy to one or more third-party
investors or buyers.  The Debtors hired Jefferies LLC as a
financial adviser to lead this process.  While several parties have
expressed interest, no party has yet committed to purchase a
portion or all of the Project Assets or all of the Equity
Interests.

Beal Bank USA, the Debtors' prepetition lender, has agreed to
provide the Debtors up to $45,000,000 in financing in order to
continue to operate their business and continue their sale
efforts.

"An immediate need exists for the Debtors to obtain funds and
liquidity in order to continue operations, administer and preserve
the value of their estates, and to fund in full the administrative
costs of these chapter 11 cases pending a sale of the Project
Assets or the Equity Interests," said Mr. Wallander.

To minimize the Chapter 11 cases' impact on their business
operations, the Debtors have filed motions and pleadings seeking
various types of "first day" relief.  The Debtors are seeking
authority to, among other things, continue using existing cash
management system, continue performance under energy trading
contracts, use cash collateral and obtain postpetition financing.

The Debtors have engaged Vinson & Elkins LLP as legal counsel,
Drinker Biddle & Reath LLP as Delaware counsel, and Garden City
Group as claims and noticing agent.

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

Judge Kevin J. Carey is assigned to the case.

A full-text copy of the declaration in support of the First Day
Motions is available at:

       http://bankrupt.com/misc/4_SUNDEVIL_Declaration.pdf


TAYLOR-WHARTON INT'L: Court Approves Logan & Co as Admin Advisor
----------------------------------------------------------------
Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
sought and obtained permission from the Hon. Brendan L. Shannon of
the U.S. Bankruptcy Court for the District of Delaware to employ
Logan & Company, Inc. as administrative advisor, nunc pro tunc to
November 11, 2015.

Logan will assist in the preparation of the Debtors' schedules of
assets and liabilities and statement of financial affairs,
including any necessary amendments.

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

Kate Logan, president and chief executive officer of Logan, 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.

Logan can be reached at:

       Kate Logan
       LOGAN & COMPANY, INC.
       546 Valley Road
       Upper Montclair, NJ 07043
       Tel: (973) 509-3190
       Fax: (973) 509-3191

                        About Taylor-Wharton

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead Case No. 15-12075) on Oct. 7, 2015.  The petition was signed
by Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct
or indirect parent of several foreign non-debtor subsidiaries
which have manufacturing operations in China, Malaysia, Slovakia,
and warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Argus Management Corporation as interim management
services provider, Stifel, Nicolaus & Company, Incorporated and
Miller Buckfire & Company LLC as investment banker and Logan &
Company, Inc., as noticing and claims agent.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.  O'Neal Steel Inc. is listed as the largest
unsecured creditor holding a trade claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.


TAYLOR-WHARTON INT'L: Court Okays Nixon Peabody as Special Counsel
------------------------------------------------------------------
Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
sought and obtained permission from the Hon. Brendan L. Shannon of
the U.S. Bankruptcy Court for the District of Delaware to employ
Nixon Peabody LLP as special counsel, nunc pro tunc to November 22,
2015.

The Debtors need Nixon Peabody to continue certain of the services
it provided prior to the bankruptcy filing, including acting as the
Debtors' National Coordinating Counsel for product liability
litigation prior to the Commencement Date; collecting, tracking and
providing the Debtors information with respect to and assisting the
Debtors with issues arising from the Debtors' history concerning
product liability litigation and the product liability claims
pending against the Debtors; to provide advice, representation and
the preparation of necessary documentation regarding various
litigation matters, including the PL Actions, and any other
services related to the foregoing.

The Debtors will compensate Nixon Peabody on an hourly fee basis,
to be capped at $20,000 monthly in fees with the addition of costs.
Any unused portion of the $20,000 cap may be used in any subsequent
month.

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

Samuel Goldblatt, partner of Nixon Peabody, 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.

Andrew R. Vara, Acting United States Trustee for Region 3 for the
Debtors, filed an objection to Nixon Peabody's employment. The
Trustee stated that the application does not establish
extraordinary circumstances that would justify the retention of
Nixon Peabody retroactively by 76 days.

The Trustee is represented by:

       Benjamin A. Hackman, Esq.
       United States Department of Justice
       Office of the United States Trustee
       J. Caleb Boggs Federal Building
       844 King Street, Suite 2207, Lockbox 35
       Wilmington, DE 19801
       Tel: (302) 573-6491
       Fax: (302) 573-6497

Nixon Peabody can be reached at:

       Samuel Goldblatt, Esq.
       NIXON PEABODY LLP
       100 Summer Street
       Boston, MA 02110-2131
       Tel: (617) 345-1131
       Fax: (866) 283-1388

                        About Taylor-Wharton

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead Case No. 15-12075) on Oct. 7, 2015.  The petition was signed
by Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct
or indirect parent of several foreign non-debtor subsidiaries
which have manufacturing operations in China, Malaysia, Slovakia,
and warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Argus Management Corporation as interim management
services provider, Stifel, Nicolaus & Company, Incorporated and
Miller Buckfire & Company LLC as investment banker and Logan &
Company, Inc., as noticing and claims agent.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.  O'Neal Steel Inc. is listed as the largest
unsecured creditor holding a trade claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.


TAYLOR-WHARTON: Seeks Approval of $1.2-Mil. Inventory Sale
----------------------------------------------------------
Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
ask the U.S. Bankruptcy Court for the District of Delaware to
authorize the sale of certain inventory free and clear of all
liens, claims, encumbrances and interests.

The Debtors relate that they have  successfully engaged in a going
concern sale of the Debtors' worldwide CryoScience Business and
also sold substantially all of their U.S. based property, plant and
equipment associated with their CryoIndustrial and CryoLNG
businesses for over $33 million.  The Debtors continued to retain
ownership of U.S. based account receivables and inventory
associated with the Debtors' CryoIndustrial and CryoLNG businesses
and have since been engaged in an orderly collection and sale of
such U.S. based account receivables and inventory in the ordinary
course of business.

The Court has approved the Debtors' sale of their CryoScience
Business and certain other assets to Worthington Cylinder
Corporation, as successful bidder ("Worthington Sale"), under the
parties' Asset Purchase Agreement ("Worthington APA").  The
Worthington APA excluded certain enumerated inventory from the
Worthington Sale, which includes "any parts any parts, supplies,
materials and other inventories exclusively or primarily related to
the CryoIndustrial Business or the CryoLNG Business, including any
such inventories on consignment and any inventories located in
warehouses or similar facilities." ("CryoIndustrial and CryoLNG
Inventory")

The Debtors relate that they seek to sell substantially all of the
remaining CryoIndustrial and CryoLNG Inventory consisting of
finished and semi-finished goods in a private sale to Air Water
Inc., a corporation organized under the laws of Japan, or its
designee ("Buyer"), for the aggregate purchase price of $1,227,922.


The Debtors further relate that the sale would be made in
connection with the Buyer’s potential purchase of the equity
interests of Taylor- Wharton Malaysia SDN. BHD., a corporation
organized under the laws of Malaysia, from the Debtors’
non-debtor subsidiary Endurium Holding Limited.

The Debtor's Motion is scheduled for hearing on Feb. 18, 2016 at
10:00 a.m.  The deadline for the submission of objections to the
Debtor's Motion was Feb. 11.

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
are represented by:

          J. Cory Falgowski, Esq.
          REED SMITH LLP
          1201 Market Street, Suite 1500
          Wilmington, DE 19801
          Telephone: (302)778-7500
          Facsimile: (302)778-7575
          E-mail: jfalgowski@reedsmith.com

                 - and -

          Paul M. Singer, Esq.
          REED SMITH LLP
          225 Fifth Avenue, Suite 1200
          Pittsburgh, PA 15222
          Telephone: (412)288-3131
          Facsimile: (412)288-3063
          E-mail: psinger@reedsmith.com

                 - and -

          Derek J. Baker, Esq.
          1717 Arch Street, Suite 3100
          Philadelphia, PA 19103
          Telephone: (215)851-8100
          Facsimile: (215)851-1420
          E-mail: dbaker@reedsmith.com

                About Taylor-Wharton International

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead Case No. 15-12075) on Oct. 7, 2015.  The petition was signed
by Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct
or indirect parent of several foreign non-debtor subsidiaries
which have manufacturing operations in China, Malaysia, Slovakia,
and warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Argus Management Corporation as interim management
services provider, Stifel, Nicolaus & Company, Incorporated and
Miller Buckfire & Company LLC as investment banker and Logan &
Company, Inc., as noticing and claims agent.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.  O'Neal Steel Inc. is listed as the largest
unsecured creditor holding a trade claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.


TAYLOR-WHARTON: Wants Until May 4 to Decide on Liberty Lease
------------------------------------------------------------
Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
ask the U.S. Bankruptcy Court for the District of Delaware to
extend their deadline to assume or reject unexpired lease of
nonresidential real property through May 4, 2016.

Taylor-Wharton International LLC, as tenant, and Liberty Property
Limited Partnership ("Landlord") are parties to a certain Lease
Agreement dated October 11, 2012 relating to the premises described
as Rowland Pond I, 5600 Rowland Road, Suite 170, Minnetonka, MN.
The  Lease is the only unexpired lease of nonresidential real
property to which either of the Debtors is a party.

The Debtors tell the Court that the proposed extension of the
Assumption/Rejection Period will not adversely affect the
substantive rights of the Landlord.  The Debtors believe that they
are current on their postpetition rent obligations under the Lease,
and they intend to timely perform their obligations under the
Lease, as and to the extent prescribed by Section 365(d)(3) of the
Bankruptcy Code.

The Debtors' Motion is scheduled for hearing on March 17, 2016 at
10:00 a.m.  The deadline for the filing of objections to the
Debtors' Motion is set on March 10, 2016 at 4:00 p.m.

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
are represented by:

          J. Cory Falgowski, Esq.
          REED SMITH LLP
          1201 Market Street, Suite 1500
          Wilmington, DE 19801
          Telephone: (302)778-7500
          Facsimile: (302)778-7575
          E-mail: jfalgowski@reedsmith.com

                - and -

          Paul M. Singer, Esq.
          REED SMITH LLP
          225 Fifth Avenue, Suite 1200
          Pittsburgh, PA 15222
          Telephone: (412)288-3131
          Facsimile: (412)288-3063
          E-mail: psinger@reedsmith.com

                - and -

          Derek J. Baker, Esq.
          1717 Arch Street, Suite 3100
          Philadelphia, PA 19103
          Telephone: (215)851-8100
          Facsimile: (215)851-1420
          Email: dbaker@reedsmith.com

                About Taylor-Wharton International

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead Case No. 15-12075) on Oct. 7, 2015.  The petition was signed
by Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct
or indirect parent of several foreign non-debtor subsidiaries
which have manufacturing operations in China, Malaysia, Slovakia,
and warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Argus Management Corporation as interim management
services provider, Stifel, Nicolaus & Company, Incorporated and
Miller Buckfire & Company LLC as investment banker and Logan &
Company, Inc., as noticing and claims agent.

The Debtors estimated both assets and liabilities of $100 million
to $500 million.  O'Neal Steel Inc. is listed as the largest
unsecured creditor holding a trade claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.


TENET HEALTHCARE: London Company Reports 4.8% Stake as of Dec. 31
-----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, The London Company disclosed that as of Dec. 31, 2015,
it beneficially owns 4,839,798 shares of common stock of Tenet
Healthcare Corp. representing 4.86 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/IbC3GP

                          About Tenet

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

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

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

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

                         *    *    *

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


TGHI INC: Hires KCC as Administrative Agent
-------------------------------------------
TGHI, Inc., and Parent THI, Inc., seek permission from the
Bankruptcy Court to employ KCC as their administrative agent nunc
pro tunc to the Petition Date.

Pursuant to the Retention Agreement, KCC will, among other things:

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

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

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

   (d) manage and coordinate any distributions pursuant to a
       confirmed plan of reorganization or otherwise; and

   (e) provide other processing, solicitation, balloting, and
       other administrative services.

"By appointing an administrative agent, the administration of these
Chapter 11 Cases will be expedited as the Debtors and the Debtors'
professionals will be relieved of handling certain necessary
administrative burdens and may focus on other priorities,"
according to Christopher Layden, president of the Debtors.

The Debtors agree to pay KCC for its services, expenses and
supplies at the rates or prices set by KCC and in effect as of the
date of the Agreement in accordance with the KCC Fee Structure.
KCC's prices are generally adjusted periodically to reflect changes
in the business and economic environment.  KCC reserves the right
to reasonably increase its prices, charges and rates annually.  If
any price increases exceed 10%, KCC will give 30 days written
notice to the Debtors.

The Debtors also agree to pay the reasonable out of pocket expenses
incurred by KCC in connection with services provided under the
Agreement, including but not limited to, transportation,
lodging, and meals.

As part of the overall compensation payable to the Administrative
Agent, the Debtors have agreed, subject to certain exceptions, to
indemnify and hold harmless KCC and its directors, officers,
employees, affiliates, and agents, against any losses incurred by
the Administrative Agent.

KCC represented it is a "disinterested person," as that term is
defined in the Bankruptcy Code.

                       About TGHI, Inc.

TGHI, Inc. and Parent THI, Inc. filed petitions under Chapter 11 of
the Bankruptcy Code (Bankr. S.D.N.Y. Case Nos. 16-10300 and
16-10301, respectively) on Feb. 9, 2016, to effectuate a wind down
and dissolution of their estates.

The Debtors were the former direct or indirect holding companies of
Targus Group International, Inc. and its operating subsidiaries --
which are now unaffiliated with the Debtors and are not "Debtors"
in the Chapter 11 Cases -- and were a leading global supplier of
carrying cases and accessory products for the mobile lifestyle.

TGHI, Inc. estimated assets in the range of $1 million to $10
million and liabilities of $10 million to $50 million.  Parent THI,
Inc. estimated assets of $0 to $50,000 and liabilities of $50
million to $100 million.

Judge Michael E. Wiles is assigned to the case.

The Debtors have engaged Klestadt Winters Jureller Southard &
Stevens, LLP as counsel and Kurtzman Carson Consultants LLC as
claims, noticing agent and administrative agent.


TGHI INC: Seeks Joint Administration of Cases
---------------------------------------------
TGHI, Inc. and Parent THI, Inc., ask the Bankruptcy Court to enter
an order directing the joint administration of their Chapter 11
cases under the Lead Case No. 16-10300.

Tracy L. Klestadt, Esq., at Klestadt Winters Jureller Southard &
Stevens, LLP, counsel for the Debtors, said that absent entry of an
order directing joint administration, day-to-day administration
would require duplicative notices, applications and orders.  He
added that joint administration eliminates these issues, thereby
saving the Debtors' estates significant time and expense.

Additionally, Mr. Klestadt maintained that (a) the Court would be
relieved of the burden of entering duplicative orders and
maintaining duplicative dockets and files, and (b) the United
States Trustee for Southern District of New York's supervision of
the administrative aspects of the Chapter 11 Cases would be
simplified.

Accordingly, the Debtors request that the Clerk of the United
States Bankruptcy Court for the Southern District of New York
maintain one file and one docket for the two jointly administered
cases under the case number of TGHI, Inc. and that the Clerk of the
Court administer the cases under a consolidated caption.

                          About TGHI, Inc.

TGHI, Inc. and Parent THI, Inc. filed petitions under Chapter 11 of
the Bankruptcy Code (Bankr. S.D.N.Y. Case Nos. 16-10300 and
16-10301, respectively) on Feb. 9, 2016, to effectuate a wind down
and dissolution of their estates.

The Debtors were the former direct or indirect holding companies of
Targus Group International, Inc. and its operating subsidiaries --
which are now unaffiliated with the Debtors and are not "Debtors"
in the Chapter 11 Cases -- and were a leading global supplier of
carrying cases and accessory products for the mobile lifestyle.

TGHI, Inc. estimated assets in the range of $1 million to $10
million and liabilities of $10 million to $50 million.  Parent THI,
Inc. estimated assets of $0 to $50,000 and liabilities of     $50
million to $100 million.

Judge Michael E. Wiles is assigned to the case.

The Debtors have engaged Klestadt Winters Jureller Southard &
Stevens, LLP as counsel and Kurtzman Carson Consultants LLC as
claims, noticing agent and administrative agent.


TGHI INC: Taps KCC as Claims and Noticing Agent
-----------------------------------------------
TGHI, Inc. and Parent TGI, Inc., seek authority from the Bankruptcy
Court to employ Kurtzman Carson Consultants LLC as their claims and
noticing agent to assume full responsibility for the distribution
of notices and the maintenance, and the processing and docketing of
proofs of claim filed in their Chapter 11 cases.

"By appointing KCC as the claims and noticing agent in these
Chapter 11 Cases, the distribution of notices and the processing of
claims will be expedited, and the clerk's office will be relieved
of the administrative burden of processing what may be an
overwhelming number of claims," said Christopher Layden, president
of the Debtors.

The Debtors proposed to pay KCC for its services, expenses and
supplies at the rates or prices set by KCC and in effect as of the
date of the Agreement in accordance with the KCC Fee Structure.
KCC's prices are generally adjusted periodically to reflect changes
in the business and economic environment.  KCC reserves the right
to reasonably increase its prices, charges and rates annually.  If
any price increases exceed 10%, KCC will give 30 days written
notice to the Debtors.

The Debtors request that the undisputed fees and expenses incurred
by KCC be treated as administrative expenses of their Chapter 11
estates and be paid in the ordinary course of business without
further application to, or order of, the Court.

Prior to the Petition Date, the Debtors paid to KCC the amount of
$7,500.  KCC will apply its retainer to all pre-petition invoices,
which retainer will be replenished to the original retainer amount,
and thereafter, KCC may hold its retainer under the Retention
Agreement during the Chapter 11 cases as security for the payment
of fees and expenses incurred under the Retention Agreement.

The Debtors agreed to indemnify Claims and Noticing Agent under the
terms of the Retention Agreement.

KCC represented it is a "disinterested person," as that term is
defined in Section 101(14) of the Bankruptcy Code.

                          About TGHI, Inc.

TGHI, Inc. and Parent THI, Inc. filed petitions under Chapter 11 of
the Bankruptcy Code (Bankr. S.D.N.Y. Case Nos. 16-10300 and
16-10301, respectively) on Feb. 9, 2016, to effectuate a wind down
and dissolution of their estates.

The Debtors were the former direct or indirect holding companies of
Targus Group International, Inc. and its operating subsidiaries --
which are now unaffiliated with the Debtors and are not "Debtors"
in the Chapter 11 Cases -- and were a leading global supplier of
carrying cases and accessory products for the mobile lifestyle.

TGHI, Inc. estimated assets in the range of $1 million to $10
million and liabilities of $10 million to $50 million.  Parent THI,
Inc. estimated assets of $0 to $50,000 and liabilities of $50
million to $100 million.

Judge Michael E. Wiles is assigned to the case.

The Debtors have engaged Klestadt Winters Jureller Southard &
Stevens, LLP as counsel and Kurtzman Carson Consultants LLC as
claims, noticing agent and administrative agent.


TRACK GROUP: Incurs $2.12 Million Net Loss in First Quarter
-----------------------------------------------------------
Track Group, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common shareholders of $2.12 million on $6.31
million of total revenues for the three months ended Dec. 31, 2015,
compared to a net loss attributable to common shareholders of $2.21
million on $4.62 million of total revenues for the same period in
2014.

As of Dec. 31, 2015, the Company had $52.35 million in total
assets, $39.70 million in total liabilities and $12.65 million in
total equity.

"I am pleased with our continued growth and momentum and our
current run rate is aligned with our full year revenue outlook,"
said Guy Dubois, Track Group's Chairman.

"We anticipate cost of revenues, as a percentage of total revenue,
will continue to decline in fiscal 2016," stated John Merrill,
chief financial officer.  He continued, "Supply chain outsourcing,
a lower daily cost per device, automation, and higher margin
analytic services will reflect in a lower cost of revenues hence
driving higher gross profit."

"As a growth company, we must attract and retain the very best
people in order to accelerate the onboarding process and continue
to deliver impeccable service to our customers.  We remain
committed to investing in technology and infrastructure to deliver
the best suite of tracking solutions at the right price," said Mr.
Dubois.

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

                       http://is.gd/QW6xOc

                        About Track Group

Track Group (formerly SecureAlert) -- http://www.trackgrp.com/--
is a global provider of customizable tracking solutions that
leverage real-time tracking data, best-practice monitoring, and
analytics capabilities to create complete, end-to-end solutions.

Track Group reported a net loss attributable to common shareholders
of $5.66 million on $20.8 million of total revenues for the fiscal
year ended Sept. 30, 2015, compared with a net loss attributable to
common shareholders of $8.76 million on $12.26 million of total
revenues for the fiscal year ended Sept. 30, 2014.


TRIAD CONSTRUCTION: JKV's Bid to Dismiss Co-Owners' Claims Granted
------------------------------------------------------------------
Defendant John Knox Village filed a Motion to Dismiss, arguing that
Plaintiffs Nadler, Don Nadler and Gary Rodenberg,'s claims are
barred by the Rooker-Feldman doctrine, collateral estoppels and
laches; and the Plaintiffs are non-debtor parties so the automatic
stay didn't apply.  The Plaintiffs filed a response to the
Defendant's motion to dismiss asserting that the Rooker-Feldman
doctrine, collateral estoppel and laches are not applicable and
that they have standing to bring the action.

In a Memorandum Opinion dated January 26, 2016, which is available
at http://is.gd/j2JcXvfrom Leagle.com, Judge Dennis R. Dow of the
United States Bankruptcy Court for the Western District of Missouri
granted the Motion to Dismiss, holding that the Plaintiffs' claims
are barred by collateral estoppel and lack of standing.

The adversary proceeding is Tom Nadler, Don Nadler & Gary
Rodenberg, Plaintiffs, v. John Knox Village, Defendant, Adversary
No. 15-4102 (Bankr. W.D. Mo.).

The bankruptcy case is In re: Triad Construction Company, Inc.,
Debtor, Case No. 11-41662-drd7 (Bankr. W.D. Mo.).

Tom Nadler, Plaintiff, is represented by Stanley B. Bachman, Esq.
-- Bachman Law Firm.

John Knox Village, Defendant, is represented by Jerry D. Rank,
Esq. -- Law Office of Jerry Rank.


TRONOX INC: 2nd Circ. Stays Order Blocking Pa. Pollution Suit
-------------------------------------------------------------
Juan Carlos Rodriguez at Bankruptcy Law360 reported that the Second
Circuit on Feb. 8, 2016, granted a group of former creosote wood
treatment plant workers' bid for an emergency stay of an order
directing them to drop a Pennsylvania state court case against an
Anadarko Petroleum Corp. unit that is related to a $5.2 billion
Tronox Inc. pollution cleanup deal.

The plaintiffs had asked the Second Circuit to stay U.S. District
Judge Katherine Forrest's order directing them to dismiss with
prejudice their actions pending in the Luzerne County Court of
Common Pleas.

                         About Tronox Inc.

Tronox Inc., aka New-Co Chemical, Inc., and 14 other affiliates
filed for Chapter 11 protection (Bankr. S.D.N.Y. Case No.
09-10156) on Jan. 13, 2009, before Hon. Allan L. Gropper.  Richard
M. Cieri, Esq., Jonathan S. Henes, Esq., and Colin M. Adams, Esq.,
at Kirkland & Ellis LLP in New York, represented the Debtors.  The
Debtors also tapped Togut, Segal & Segal LLP as conflicts counsel;
Rothschild Inc. as investment bankers; Alvarez & Marsal North
America LLC, as restructuring consultants; and Kurtzman Carson
Consultants served as notice and claims agent.

An official committee of unsecured creditors and an official
committee of equity security holders were appointed in the cases.
The Creditors Committee retained Paul, Weiss, Rifkind, Wharton &
Garrison LLP as counsel.

Until Sept. 30, 2008, Tronox was publicly traded on the New
York Stock Exchange under the symbols TRX and TRX.B.  Since then,
Tronox has traded on the Over the Counter Bulletin Board under the
symbols TROX.A.PK and TROX.B.PK.  As of Dec. 31, 2008, Tronox
had 19,107,367 outstanding shares of class A common stock and
22,889,431 outstanding shares of class B common stock.

On Nov. 17, 2010, the Bankruptcy Court confirmed the Debtors'
First Amended Joint Plan of Reorganization under Chapter 11 of the
Bankruptcy Code, dated Nov. 5, 2010.  Under the Plan, Tronox
reorganized around its existing operating businesses, including
its facilities at Oklahoma City, Oklahoma; Hamilton, Mississippi;
Henderson, Nevada; Botlek, The Netherlands and Kwinana, Australia.


VARIANT HOLDING: Ex-Atty Facing Contempt Over Held Docs, Emails
---------------------------------------------------------------
Kali Hays at Bankruptcy Law360 reported that a Delaware bankruptcy
judge on Feb. 5, 2016, ordered Variant's former counsel from JH
Greenberg & Associates PLLC to show why he should not be held in
contempt for his ongoing failure to turn over various records
related to the real estate company, including 108 gigabytes of
emails, despite numerous court orders.

Calling the apparent refusal of Arizona-based attorney Jeffrey H.
Greenberg to produce records, documents, files and a mass of emails
pertinent to the ongoing Chapter 11 bankruptcy of Variant Holding
Co. "repeated and egregious."

                      About Variant Holding

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.


VILLAGE GREEN I: 6th Cir. Affirms Reversal of Confirmation Order
----------------------------------------------------------------
Debtor/Appellant Village Green I, GP, owes Appellee Fannie Mae $8.6
million pursuant to loan agreements executed when Village Green
purchased an apartment building in Memphis.  Under those
agreements, Village Green's mortgage payment is about $55,000 per
month.  Village Green missed its payment in December 2009; four
months later it filed for bankruptcy under Chapter 11 of the
Bankruptcy Code.  The bankruptcy court promptly stayed any creditor
action against Village Green, which prevented Fannie Mae from
foreclosing on the apartment building.  The building itself is
worth $5.4 million and is Village Green's only asset in the
bankruptcy.  Apart from Fannie Mae, Village Green's only creditors
are its former lawyer and accountant.

The only creditors who voted in favor of Village Green's Ch. 11
plan were its own former lawyer and accountant, whom Village Green
owed less than $2,400 in total, and whose interests were impaired
only because Village Green proposed to pay them in full over 60
days rather than up front.  That arrangement, the district court
found, was merely an artifice to circumvent the Bankruptcy Code's
requirement that an impaired class of creditors approve the plan.
The district court, therefore, reversed the bankruptcy court's
confirmation of the plan, holding that Village Green had not
proposed the plan in good faith.

In an Opinion dated January 27, 2016, which is available at
http://is.gd/Bd8JvCfrom Leagle.com, the United States Court of
Appeals for the Sixth Circuit agreed with the district court that
the bankruptcy court clearly erred when it found that Village Green
proposed its plan in good faith.  Accordingly, the Sixth Circuit
affirmed the district court's December 1, 2014 order and judgment.

The appeals case is VILLAGE GREEN I, GP Appellant, v. FEDERAL
NATIONAL MORTGAGE ASSOCIATION, dba Fannie Mae, Appellee. No.
14-6521 (6th Cir.), relating to In re: VILLAGE GREEN I, GP,
Debtor.

John L. Ryder, Esq. -- jryder@harrisshelton.com -- HARRIS SHELTON
HANOVER WALSH, P.L.L.C., Memphis, Tennessee, for Appellant.

Daniel H. Slate, Esq. -- dslate@buchalter.com -- BUCHALTER NEMER,
Los Angeles, California, for Appellee.

                    About Village Green I GP

Village Green I GP is the owner of the Village Green Apartments
located at 3450 Fescue Lane, Memphis, Tennessee.  The property is
a 314-unit apartment complex situated in the Hickory Hill
neighborhood of Memphis, Tennessee.  Village Green sought Chapter
11 protection (Bankr. W.D. Tenn. Case No. 10-24178) on April 16,
2010.  John L. Ryder, Esq., at Harris Shelton Hanover Walsh, PLLC,
in Memphis, Tenn., represents the single-asset real estate debtor.

The debtor estimated its assets and debts at less than $10 million
in its bankruptcy petition.  Fannie Mae is owed about $9.2
million.


VISION ADVENTURES: Default Judgment Bid vs. Linda Griffin Denied
----------------------------------------------------------------
Joseph M. DiOrio, the Chapter 7 trustee for Vision Adventures, LLC,
seeks entry of a default judgment against Linda K. Davis Griffin
and Shirley Davis after entry of default against them for failure
to file an answer, or other responsive pleading to the complaint
commencing an adversary proceeding.

The Defendants seek to vacate the default and object to the entry
of a default judgment against them, justifying their failure to
respond to the Complaint by relying on a blanket assertion of their
Fifth Amendment privilege against self-incrimination because of a
criminal case they allege is pending before the United States
District Court relating to transactions similar to those alleged in
the Complaint.

In a Decision and Order dated January 25, 2016, which is available
at http://is.gd/ogKCXDfrom Leagle.com, Judge Diane Finkle of the
United States Bankruptcy Court for the District of Rhode Island
granted the Motion to Vacate Default as to both Defendants.  Ruling
on the Trustee's Motion for Default Judgment is deferred for being
not yet ripe for consideration, Judge Finkle held.

The adversary proceeding is Joseph M. DiOrio, Chapter 7 Trustee of
Vision Adventures, LLC, Plaintiff, v. Linda K. Davis Griffin and
Shirley Davis, Defendants, A.P. No. 15-01006 (Bankr. D.R.I.).

The bankruptcy case is In re: Vision Adventures, LLC, Chapter 7,
Debtor, BK No. 13-10660 (Bankr. D.R.I.).

Joseph M. DiOrio, Plaintiff, is represented by Kristen Leigh
Forbes, Esq. -- klforbes@dioriolaw.com, Law Offices of Joseph M.
DiOrio.


WHISKEY ONE: Has Interim DIP Financing Order
--------------------------------------------
U.S. Bankruptcy Judge David E. Rice has signed off on an interim
authorization granting Whiskey One Eight, LLC, to obtain
postpetition financing from Forman Capital, LLC. The $5,182,000 DIP
Facility shall bear interest at 12% per annum.  

As security for the DIP Loans, the DIP Lender will be granted (i) a
Priming Lien on the Property; and (ii) an assignment of rents,
leases and contracts on the Property.  In addition, the DIP Loans
will have superpriority over all administrative expenses, subject
only to the Carve-Out.

The DIP Loan reduces the lender’s broker commission due to the
Hogan Companies from 5% to 3%, a total savings to the Debtor of
$185,000 in direct reduction of broker fee from $269,000 to
$155,000, for a savings of $114,000, and in reduced interest carry
from $1,962,000 to $1,891,000, for a $71,000 savings from the
original Forman Capital proposal that was submitted for approval
with the DIP Motion.  In addition, Forman Capital is now willing to
lend additional sums, if and as needed, to secure adequate public
facilities by lending additional sums so that the Debtor may pay
reservation fees to Anne Arundel County to lock in their
availability through completion of development.  There would be no
cost to the Debtor if additional loan proceeds are not needed for
that purpose.

                       About Whiskey One

Whiskey One Eight, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Md. Case No. 15-19885) on July 15, 2015.  Andrew Zois
signed the petition as managing member.  The Debtor disclosed total
assets of $18,008,600 and total liabilities of $5,100,057 as of the
Chapter 11 filing.

Lawrence Joseph Yumkas, Esq., at Yumkas, Vedmar & Sweeney, LLC as
the Debtor's counsel.  Judge David E. Rice presides over the case.


XINERGY CORP: Completes Restructuring, Exits Chapter 11
-------------------------------------------------------
Xinergy Corp., a U.S. producer of metallurgical and thermal coal,
has on Feb. 11 disclosed that it has successfully completed its
financial restructuring and has emerged from Chapter 11 bankruptcy,
following confirmation of the First Amended Joint Chapter 11 Plan
of Reorganization of Xinergy Ltd. and Its Subsidiary Debtors and
Debtors in Possession (the "Plan") by the United States Bankruptcy
Court for the Western District of Virginia.  The effective date of
the Plan occurred on February 10, 2016 (the "Effective Date").  The
reorganized company has been renamed White Forest Resources, Inc.

On the Effective Date, the reorganized company also entered into a
new credit facility (the "Exit Facility") providing additional
liquidity under a new first lien term loan.  With a strengthened
balance sheet and the liquidity provided under the Exit Facility,
the reorganized company is well positioned to continue operations
for the foreseeable future and leverage its low cost structure in
an improving market for Central Appalachian coal.

Jeffrey A. Wilson will serve as President and CEO of the
reorganized company.  Michael R. Castle will continue to serve the
reorganized company as its CFO.  The new members of the Board of
Directors will include Mr. Wilson, Matthew Cantor, formerly a
partner with the law firm of Kirkland & Ellis and founding
principal of Normandy Hill Capital, Jacob Mercer, a Senior
Portfolio Manager with Whitebox Advisors, LLC, Jeffrey Buller, a
Managing Director with Spectrum Group Management LLC, and Seth
Schwartz, the President of Energy Ventures Analysis, Inc.

                About White Forest Resources, Inc.

Headquartered in Knoxville, Tennessee, White Forest Resources Inc.,
through its wholly owned subsidiary Xinergy Corp. and its
subsidiaries, is engaged in coal mining in West Virginia and
Virginia.  The Company sells high quality thermal and metallurgical
coal to electric utilities, steelmakers, energy trading firms and
industrial companies.

                       About Xinergy Ltd.

Xinergy is a U.S. producer of metallurgical and thermal coal with
mineral reserves, mining operations and coal properties located in
the Central Appalachian ("CAPP") regions of West Virginia and
Virginia.  Xinergy's operations principally include two active
mining complexes known as South Fork and Raven Crest located in
Greenbrier and Boone Counties, West Virginia.  Xinergy also leases
or owns the mineral rights to properties located in Fayette,
Nicholas and Greenbrier Counties, West Virginia and Wise County,
Virginia.  Collectively, Xinergy leases or owns mineral rights to
approximately 72,000 acres with proven and probable coal reserves
of approximately 77 million tons and additional estimated reserves
of 40 million tons.

Xinergy Ltd. and 25 subsidiaries commenced Chapter 11 bankruptcy
cases (Bankr. W.D. Va. Lead Case No. 15-70444) on April 6, 2015.
The cases have been assigned to Judge Paul M. Black.  The cases are
being jointly administered for procedural purposes.

Xinergy Ltd. disclosed $36,968,445 in assets and $215,000,000 in
liabilities as of the Chapter 11 filing.

The Debtors tapped Hunton & Williams LLP as attorneys; Global
Hunter Securities, as financial advisor, and American Legal Claims
Services, LLC as claims, noticing and balloting agent.

The U.S. Trustee appointed a two-member official committee of
unsecured creditors.  The Committee tapped to retain McGuireWoods
LLP as lead counsel, and Whiteford, Taylor & Preston, LLP as its
local counsel.

The Informal Prepetition Noteholder Committee and DIP Lenders are
represented by Paul, Weiss, Rifkind, Wharton & Garrison.


[*] Bankruptcy Filings for 2015 Lowest Since 2007
-------------------------------------------------
Diane Davis, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that bankruptcy filings during the 12-month period ending
Dec. 31, 2015, dropped 9.9 percent, according to new statistics
released Feb. 4 by the Administrative Office of the US Courts
(AOUSC).

According to the Bloomberg report, the AOUSCs statistics reveal
that 844,495 cases were filed in federal bankruptcy courts during
the 12-month period ending Dec. 31, 2015, down from the 936,795
bankruptcy cases filed in calendar year 2014.  This is the lowest
number of bankruptcy filings for any 12-month period since 2007,
and the fifth consecutive calendar year that filings have fallen,
the AOUSC said, the report cited.

Both business and non-business bankruptcies have continued to
decline steadily, the report further cited the AOUSC statistics.
During the 12-month period ending Dec. 31, 2015, the total number
of business filings
was 24,735, down from 26,983 in the previous year.  The total
number of non-business filings was 819,760, down from 909,812 in
the previous year.


[*] Hedge Fund Slaps Olshan Frome with $21M Malpractice Suit
------------------------------------------------------------
Aebra Coe at Bankruptcy Law360 reported that Olshan Frome Wolosky
LLP was hit with a $21 million legal malpractice suit on Feb. 5,
2016, in New York state court by a hedge fund that alleges the law
firm negligently failed to secure its interest in a loan to a guar
processing facility that was later forced into bankruptcy.

Hedge fund and private equity fund Scopia Windmill LP says that it
hired Olshan to make sure its $6 million loan to West Texas Guar
Inc. was secured by a first-priority lien.

                    About West Texas Guar

Representatives of 24 farms filed an involuntary Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 14-50056) on  
March 14, 2014, against West Texas Guar Inc.  The farmers claim
they are owed nearly $4 million for seed they've delivered on the
2013 harvest but haven't been paid for.  Guar is a seed crop that
has a variety of uses in human and animal food production, textiles

and fracking for oil and gas wells.

Judge Robert L. Jones oversees the case.  The farmers are
represented by R. Byrn Bass, Jr., Esq., Attorney at Law.

WTG is represented by Samuel M. Stricklin, Esq., Tricia R. DeLeon,

Esq., and Lauren C. Kessler, Esq., at Bracewell & Giuliani LLP, in

Dallas, Texas.  The Debtor disclosed in amended schedules  
$19.2 million in assets and $29.3 million in liabilities as of the

Chapter 11 filing.

West Texas Guar's Third Amended Chapter 11 Plan of Reorganization
became effective on Dec. 12, 2014, and substantial consummation of

that plan occurred.


[*] Heidi Sorvino Joins LeClairRyan Manhattan as Shareholder
------------------------------------------------------------
Heidi J. Sorvino, formerly of Hodgson Russ LLP, has joined
LeClairRyan as a shareholder on the firm's Bankruptcy and
Creditors' Rights Practice Area Team.  She will be resident in the
national law firm's Manhattan office.  

Ms. Sorvino represents business entities, debtors, and secured
creditors including banks, financial institutions, hedge funds,
creditors' committees, distressed-debt investors, and indenture
trustees in complex bankruptcy and insolvency proceedings,
corporate restructurings, and related litigation.  Her extensive
experience includes Chapter 11 and Chapter 7 cases; non-bankruptcy
workouts; the acquisition, financing, and disposition of real
estate; cash collateral orders; debtor-in-possession financing;
automatic stay relief; plan negotiations; sales of assets;
preference and fraudulent conveyance actions; and trading in
claims.

Ms. Sorvino is a member of the Turnaround Management Association,
the American Bankruptcy Institute, the International Women's
Insolvency and Restructuring Confederation and the Executive
Women's Golf Association.  She is a graduate of St. John's
University (J.D), New York University (M.S.W.) and Hamilton College
(B.A.). Sorvino is admitted to practice in New York and New Jersey.



[*] Houlihan Lokey Sees "Growing Pockets of Distress"
-----------------------------------------------------
Sonali Basak and Lily Katz, writing for Bloomberg Brief - Distress
& Bankruptcy, reported that Houlihan Lokey Inc., the investment
bank that has advised on some of the world's largest bankruptcies,
said the volume of restructuring work has reached the highest level
since the 2008 credit crisis as struggling companies find it harder
to obtain financing.

"While the overall default rate remains at near-historic lows,
there are growing pockets of distress," Chief Executive Officer
Scott Beiser said in a conference call discussing fourth-quarter
results.  "The amounts of new leveraged loans and high-yield debt
issued has recently slowed, potentially impacting future
opportunities for companies in need of refinancings."

Beiser said the rout includes energy companies rattled by low fuel
prices, and retailers challenged by competition from online
purchasing, the report related.




[*] HSBC Will Pay $601 Million in Federal-State Mortgage Case
-------------------------------------------------------------
Evan Weinberger at Bankruptcy Law360 reported that HSBC Holdings
PLC on Feb. 5, 2016, agreed to pay $601 million in a series of
settlements with state and federal regulators and law enforcement
agencies related to its mortgage origination, servicing and
foreclosure activities.

HSBC is on the hook for $601 million in multiple settlements
related to its mortgage servicing practices.  In one settlement,
HSBC agreed to pay $470 million in a deal with the U.S. Department
of Justice, the U.S. Department of Housing and Urban Development
and 49 states.


[*] Oil Bankruptcies Seen Spurring Mergers
------------------------------------------
Aaron Clark and Stephen Stapczynski, writing for Bloomberg Brief -
Distress & Bankruptcy, reported that about 150 oil and gas
companies tracked by energy consultant IHS Inc. may go bust as a
supply glut pressures prices and punishes revenues.

According to the report, citing Bob Fryklund, chief upstream
analyst at IHS, the number of companies at risk is more than twice
the 60 producers that have already filed for bankruptcy.  A further
shake out would help stimulate deals that have been on hold because
buyers and sellers have disagreed on asset values, he told
Bloomberg.

More bankruptcies would be one signal that energy prices have
reached a bottom and would help kick off deals for the $230 billion
worth of oil and gas assets currently up for sale, the report said,
citing Mr. Fryklund.

"Nobody is buying because there is a mismatch between
expectations," Mr. Fryklund said in an interview with Bloomberg.
"We need to close that gap. And the way that that will happen is
the rest of those bankruptcies will go forward."




[*] Senate Judiciary Committee Considers FACT Act, Asbestos Claims
------------------------------------------------------------------
Tim Povtak at Asbestos.com reported that the U.S. Senate Judiciary
Committee will begin discussing the Furthering Asbestos Claims
Transparency (FACT) Act -- despite growing, widespread opposition.

Groups of veterans, teachers, firefighters, municipal, county and
state workers delivered letters Monday to ranking Senate Judiciary
Committee members, voicing their disapproval.

The bill would require new, stiffer requirements for those seeking
compensation from asbestos trusts. The U.S. Bankruptcy Code
established asbestos trusts to compensate victims of asbestos
exposure.  The trusts are worth an estimated $30 billion.

Earlier this year, the FACT Act was folded into a larger proposal
and renamed the Fairness in Class Action Litigation and Furthering
Asbestos Claim Transparency Act of 2016 (H.R. 1927).  The U.S.
House of Representatives recently passed that version.

For this legislation to be enacted, the Senate must pass the bill
and the approval of President Barack Obama, who already vowed to
veto the proposal.  Although the House passed similar legislation
three times in the last four years, the Senate struck down each
proposal.

Opponents of the FACT Act believe it unfairly targets military
veterans.

Because of the military's past reliance on asbestos products,
diseases related to asbestos exposure, including mesothelioma, have
hit veterans in disproportionate numbers.  An estimated 30 percent
of all mesothelioma lawsuits involve veterans.

                          Veterans Unite

"The bill is a cynical ploy by the asbestos industry to avoid
compensating its victims who are seeking justice in court, many of
whom are veterans who were doubly exposed; first while in uniform
and then when they went on to work for companies that knowingly
exposed them to the deadly fiber," read one letter signed by
members of 17 different veterans organizations.

The organizations against the bill include Vietnam Veterans of
America, National Defense Council and the Air Force Sergeants
Association.

The International Association of Fire Fighters, National Education
Association and American Federation of State, County and Municipal
Employees co-wrote another letter to the Senate Judiciary
Committee.

"Victims of asbestos exposure, including first responders and
teachers, among many other dedicated public employees, are entitled
to compensation through companies that caused their illnesses,"
that letter stated.  "The measure actually is designed to help the
asbestos industry avoid paying victims through delay tactics and
waste of scarce trust resources set aside for victims."

Opponents delivered the letters to Judiciary Committee Chairman
U.S. Sen. Chuck Grassley, R-Iowa, and the committee's ranking
member, U.S. Sen. Patrick Leahy, D-Vt.

           Undue Burden for People Affected by Asbestos

Proponents of the bill say it is designed to protect the asbestos
trusts from fraudulent claims and save the funds for those entitled
by law to be compensated.

The Senate's version of the legislation, known as S. 357, would
require public disclosure of asbestos exposure history, basis for
compensation and complete work history. It also would require
personal data such as partial social security numbers.

Opponents say it exposes the victims to possible identity theft,
slows an already tedious process and places an undue burden on the
victims.

               Schumer Leads Fight Against FACT Act

U.S. Sen. Chuck Schumer, D-N.Y., is leading the fight against the
FACT Act, vowing to block it from proceeding through the Senate.
Schumer is a member of the Finance Committee's subcommittee on
Health Care. Sen. Jeff Flake, R-Ariz., officially introduced the
bill in the Senate.

Schumer was especially bothered by the bill's effects on veterans,
who comprise 8 percent of the adult population, but one-third of
those who file mesothelioma cases.

State and federal laws currently view trust fund payments as
confidential and private, not admissible in court.  Under the FACT
Act, the trust funds would be required to release quarterly reports
with information that could be used in asbestos liability cases.


[^] BOOK REVIEW: The Sorcerer's Apprentice - Medical Miracles
-------------------------------------------------------------
Author:     Sallie Tisdale
Publisher:  BeardBooks
Softcover:  270 pages
List Price: $34.95
Review by Henry Berry
Order your own personal copy at http://is.gd/9SAfJR

An earlier edition of "The Sorcerer's Apprentice" won an American
Health Book Award in 1986. The book has been recognized as an
outstanding book on popular science. Tisdale brings to her subject
of the wide nd engrossing field of health and illness the
perspective, as well as the special sympathies and sensitivities,
of a registered nurse. She is an exceptionally skilled writer.
Again and again, her descriptions of ill individuals and images of
illnesses such as cancer and meningitis make a lasting impression.
Tisdale accomplishes the tricky business of bringing the reader to
an understanding of what persons experience when they are ill; and
in doing this, to understand more about the nature of illness as
well. Her style and aim as a writer are like that of a medical or
science journalist for leading major newspaper, say the "New York
Times" or "Los Angeles Times." To this informative, readable style
is added the probing interest and concern of the philosopher
trying to shed some light on one of the central and most
unsettling aspects of human existence. In this insightful,
illuminating, probing exploration of the mystery of illness,
Tisdale also outlines the limits of the effectiveness of
treatments and cures, even with modern medicine's store of
technology and drugs. These are often called "miracles" of modern
medicine. But from this author's perspective, with the most
serious, life-threatening, illnesses, doctors and other health-
care professionals are like sorcerer's trying to work magic on
them. They hope to bring improvement, but can never be sure what
they do will bring it about. Tisdale's intent is not to debunk
modern medicine, belittle its resources and ways, or suggest that
the medical profession holds out false hopes. Her intent is do
report on the mystery of serious illness as she has witnessed it
and from this, imagined what it is like in her varied work as a
registered nurse. She also writes from her own experiences in
being chronically ill when she was younger and the pain and
surgery going with this.

She writes, "I want to get at the reasons for the strange state of
amnesia we in the health professions find ourselves in. I want to
find clues to my weird experiences, try to sense the nature of
being sick." The amnesia of health professionals is their state of
mind from the demands placed on them all the time by patients,
employers, and society, as well as themselves, to cure illness, to
save lives, to make sick people feel better. Doctors, surgeons,
nurses, and other health-care professionals become primarily
technicians applying the wonders of modern medicine. Because of
the volume of patients, they do not get to spend much time with
any one or a few of them. It's all they can do to apply the
prescribed treatment, apply more of it if it doesn't work the
first time, and try something else if this treatment doesn't seem
to be effective. Added to this is keeping up with the new medical
studies and treatments. But Tisdale stepped out of this problem-
solving outlook, can-do, perfectionist mentality by opting to
spend most of her time in nursing homes, where she would be among
old persons she would see regularly, away from the high-charged
atmosphere of a hospital with its "many medical students,
technicians, administrators, and insurance review artists." To
stay on her "medical toes," she balanced this with working
occasional shifts in a nearby hospital. In her hospital work, she
worked in a neonatal intensive care unit (NICU), intensive care
unit (ICU), a burn center, and in a surgery room. From this
combination of work with the infirm, ill, and the latest medical
technology and procedures among highly-skilled professionals,
Tisdale learned that "being sick is the strangest of states." This
is not the lesson nearly all other health-care workers come away
with. For them, sick persons are like something that has to be
"fixed." They're focused on the practical, physical matter of
treating a malady. Unlike this author, they're not focused
consciously on the nature of pain and what the patient is
experiencing. The pragmatic, results-oriented medical profession
is focused on the effects of treatment. Tisdale brings into the
picture of health care and seriously-ill patients all of what the
medical profession in its amnesia, as she called it, overlooks.

Simply in describing what she observes, Tisdale leads those in the
medical profession as well as other interested readers to see what
they normally overlook, what they normally do not see in the
business and pressures of their work. She describes the beginning
of a hip-replacement operation, the surgeon "takes the scalpel and
cuts--the top of the hip to a third of the way down the thigh--and
cuts again through the globular yellow fat, and deeper. The
resident follows with a cautery, holding tiny spraying blood
vessels and burning them shut with an electric current. One small,
throbbing arteriole escapes, and his glasses and cheek are
splattered." One learns more about what is actually going on in an
operation from this and following passages than from seeing one of
those glimpses of operations commonly shown on TV. The author
explains the illness of meningitis, "The brain becomes swollen
with blood and tissue fluid, its entire surface layered with
pus...The pressure in the skull increases until the winding
convolutions of the brain are flattened out...The spreading
infection and pressure from the growing turbulent ocean sitting on
top of the brain cause permanent weakness and paralysis,
blindness, deafness...." This dramatic depiction of meningitis
brings together medical facts, symptoms, and effects on the
patient. Tisdale does this repeatedly to present illness and the
persons whose lives revolve around it from patients and relatives
to doctors and nurses in a light readers could never imagine, even
those who are immersed in this world.

Tisdale's main point is that the miracles of modern medicine do
not unquestionably end the miseries of illness, or even
unquestionably alleviate them. As much as they bring some relief
to ill individuals and sometimes cure illness, in many cases they
bring on other kinds of pains and sorrows. Tisdale reminds readers
that the mystery of illness does, and always will, elude the
miracle of medical technology, drugs, and practices. Part of the
mystery of the paradoxes of treatment and the elusiveness of
restored health for ill persons she focuses on is "simply the
mystery of illness. Erosion, obviously, is natural. Our bodies are
essentially entropic." This is what many persons, both among the
public and medical professionals, tend to forget. "The Sorcerer's
Apprentice" serves as a reminder that the faith and hope placed in
modern medicine need to be balanced with an awareness of the
mystery of illness which will always be a part of human life.


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2016.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
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re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
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are $25 each.  For subscription information, contact Peter A.
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                   *** End of Transmission ***