TCR_Public/160219.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 19, 2016, Vol. 20, No. 50

                            Headlines

22ND CENTURY: Crede CG Reports 9.9% Equity Stake as of Dec. 31
2622 LAKE: RAIT CRE to Auction Off Collateral on March 14
3575 MOREAU: RAIT CRE to Auction Off Collateral on March 14
6930 GETTYSBURG: RAIT CRE to Auction Off Collateral on March 14
6932 GETTYSBURG: RAIT CRE to Auction Off Collateral on March 14

ACTIVECARE INC: Needs More Time to File Dec. 31 Form 10-Q
ADAMIS PHARMACEUTICALS: Sio Capital Has 9.8% Stake as Dec. 31
ADT CORP: Fitch Downgrades Issuer Default Rating to 'BB'
AEOLUS PHARMACEUTICALS: Biotechnology Value Reports 4.8% Stake
AEOLUS PHARMACEUTICALS: Incurs $1.6-Mil. Net Loss in Fiscal Q1

ALVION PROPERTIES: Disbursing Agent Objects to Dismissal Bid
AMBAC ASSURANCE: Ad Hoc Policyholder Group Taps Chadbourne
AMERICAN AIRLINES: Envoy FAs Approve Contract Upgrades
AMERICAN MEDIA: Incurs $2.28 Million Net Loss in Third Quarter
APOLLO MEDICAL: Reports $1.68 Million Net Loss for 3rd Quarter

ARCH COAL: Asks for Approval to Sell Knott County Assets
ARCH COAL: Creditors Slam $275M Chapter 11 Financing Proposal
ARCH COAL: Feb. 23 Final Hearing on DIP Financing Request
ARCH COAL: Feb. 23 Hearing on Deal with Wyoming for Cleanup Relief
ARCH COAL: Floats $75M Deal Over Wyoming Environmental Obligations

ARCH COAL: Has Until March 10 to File Schedules and Statements
ARCH COAL: Spars with Creditors Over $275-Mil. Bankruptcy Loan
ARCH COAL: U.S. Trustee Sets March 10 as Meeting of Creditors
ARGENT ENERGY: Chapter 15 Case Summary
ARGENT ENERGY: Monitor Seeks US Recognition of CCAA Proceeding

ATHABASCA OIL: Moody's Cuts Sr. Unsecured Rating to 'Ba3'
AXION INT'L: Committee Touts Offer From Industrial Assets
AXION INT'L: Committee Wants Management Replaced by Ch.11 Trustee
AXION INT'L: Fails to Get Loan Approval; Key Hearing on Feb. 24
AXION INT'L: Kronstadt, DIP Lender Balk at Committee's Bid to Sue

BEAZER HOMES: Brookfield No Longer Owns Shares as of Dec. 31
BEAZER HOMES: Citadel Advisors Ceases as 5% Shareholder
BERNARD L. MADOFF: Trustee Fights Proposed $64-Bil. Investor Suit
BERNARD L. MADOFF: Trustee Shuts $11-Bil. Investor Suit for Now
BLACK DIAMOND MINING: Holmes Must Deposit Funds to Reopen Case

BMB MUNAI: Incurs $105,000 Net Loss in Third Quarter
BON-TON STORES: Brigade Capital Reports 8% Stake as of Dec. 31
CAESARS ENTERTAINMENT: Bank Lenders Say Patience "Wearing Thin"
CAESARS ENTERTAINMENT: Creditors Threaten to Smash Framework Plan
CAESARS ENTERTAINMENT: Judge Declines to Authorize Mediation

CAESARS ENTERTAINMENT: Paulson & Co. Holds 9.9% Stake as of Dec. 31
CAMBIUM LEARNING: Moody's Withdraws Caa1 Corporate Family Rating
CAMELBACK LLC: Voluntary Chapter 11 Case Summary
CARDIAC SCIENCE: Freeborn & Peters Okayed as Committee Counsel
CARDINAL L.S.D: Moody's Lowers GO Rating to 'B1'

CARLBROOK SCHOOL: Case Summary & 20 Largest Unsecured Creditors
CHINA NATURAL: Receives NASDAQ Listing Non-Compliance Notice
COMMUNITY HOME: March 22 Status Conference on Conversion of Case
COMSTOCK MINING: Van Den Berg Has 19.8% Stake as of Dec. 31
CONSOLIDATED BEDDING: Settles With FXI in Antirust MDL

CROWN MEDIA: J.P. Morgan Partners No Longer Owns Common Shares
CTI BIOPHARMA: Reports Q4 and Full Year 2015 Financial Results
CUBIC ENERGY: Court Confirms Prepackaged Ch. 11 Plan
CUBIC ENERGY: Court Overrules Objections to Plan Confirmation
CUBIC ENERGY: Obtains Court Authority to Assume Plan Support Deal

CURTIS JAMES JACKSON: Says Plan Would Be Like Indentured Servitude
DAEBO INT'L: Court Stays Maritime Attachments Ruling Pending Appeal
DANNY FONTANA: Iron Horse to Auction Assets on February 25
DAVID ZACHARY: Order Sustaining Bank's Plan Objection Affirmed
DOLAN COMPANY: Dismissal of "Rand-Heart" Suit Reversed in Part

DRAFTDAY FANTASY: Delays Filing of Dec. 31 Form 10-Q
DRD TECHNOLOGIES: Alabama Judge Confirms Liquidating Plan
DRD TECHNOLOGIES: Resolves IRS Confirmation Objection
ENERGY FUTURE: Noteholders Lose Appeal Over Make-Whole Premium
FEDERAL RESOURCES: DJP's Duane Gillman Named Ch. 11 Trustee

FEDERAL RESOURCES: Execs. Ousted Over Secret Marijuana Plantation
FIRST DATA: Capital Research Reports 6% Stake as of Dec. 31
FIRST DATA: Citadel Holds Less Than 5% of Class A Shares
FIRST DATA: New Omaha Holdings, et al., Hold 74.9% Cass A Shares
FIRST DATA: Viking Global Investors Holds 10.8% Class A Shares

FOURTH QUARTER: Court OKs $1.75MM DIP Hike, Oct. 31 Extension
FREESEAS INC: Crede CG Holds 1.4% of Outstanding Common Shares
GLOBAL ARENA: Put Under Liquidation, SIPC Serves as Trustee
GRAND & PULASKI: Case Summary & 20 Largest Unsecured Creditors
GT ADVANCED: Has Deal Allowing Kerry Claims for $1.3-Mil.

HAWKER BEECHCRAFT: 10th Cir. Affirms Ruling Against Former Worker
HDGM ADVISORY: Court Grants HSBC's Bid to Dismiss Suit
HEBREW HOSPITAL: Files Schedules of Assets, Debts
HERCULES OFFSHORE: Mulls Sale of Assets to Maximize Biz Value
HOMER CITY: S&P Ratings on Watch Neg. Over Low PJM Power Prices

HORSEHEAD HOLDING: Named RAS's Timothy Boates as CRO
HORSEHEAD HOLDING: U.S. Bank Steps Down as Indenture Trustee
HOVNANIAN ENTERPRISES: Citadel Holds Less Than 1% Class A Shares
IDENTIPHI INC: Investor Has Standing to Sue DLA Piper
IDERA PHARMACEUTICALS: Baker Bros. Holds 6% Stake as of Dec. 31

INDEPENDENCE TAX II: Incurs $182,000 Net Loss in Third Quarter
INT'L OIL TRADE: Court Refuses to Dismiss Bankruptcy Proceeding
INTEGRATED BIOPHARMA: Delays Filing of Dec. 31 Form 10-Q
ISTAR INC: Apollo Management Reports 8.2% Stake as of Dec. 31
ISTAR INC: Robert Pitts Reports 4.4% Stake as of Feb. 11

J.M. HUBER: S&P Rates Sr. Unsecured Credit Facilities BB+
KALOBIOS PHARMACEUTICALS: Faces Fire for Employee Bonus Plan
KGIC INC: Enters Into Amended Forbearance Agreement with BMO
KU6 MEDIA: Fails to Regain NASDAQ Listing Rules Compliance
LA CASA DE LA RAZA: Voluntary Chapter 11 Case Summary

LEE STEEL: Committee Seeks Approval for ArcelorMittal Settlement
LEHMAN BROTHERS: Tells 2nd Circ. Treaty Entitles It to Tax Credits
LIFE PARTNERS: Investors Say Trustee Derailing Chapter 11 Plan
LONESTAR GEOPHYSICAL: Court Strikes Hearing on Plan Confirmation
MAGNETATION LLC: To Pay Back Overtime, Company Official Says

MAGNUM HUNTER: March 21 Set as Administrative Claims Bar Date
MAKWA BUILDERS: Everguard's Claim Allowed as Contingent Claim
MEDICURE INC: Elliott International No Longer a Shareholder
MGM RESORTS: Capital Research Reports 5.6% Stake as of Dec. 31
MGM RESORTS: Growth Fund of America Reports 6% Equity Stake

MICHIGAN POWER: S&P Assigns 'BB+' to Term Loan & Revolver Debt
MOLYCORP INC: Del. Judge OKs New Oaktree Depositions for Trial
MOTORS LIQUIDATION: New GM Says Mistake Doesn't Allow Crash Claims
MUSCLEPHARM CORP: Inks Employment Pact with Executive Chairman
NAVISTAR INTERNATIONAL: Discovery Capital No Longer Holds Shares

NEOMEDIA TECHNOLOGIES: Suspending Filing of Reports with SEC
NEUROLOGIX INC: Medtronic Reports 7.3% Stake as of Jan. 26
NORTH AMERICAN HEALTH: Court Approves Mediation of Tort Claims
NVA HOLDINGS: Moody's Rates $100MM Incremental 1st Lien Loan 'B1'
OAKLAND PHYSICIANS: Court Confirms Sant's Plan

ODIN DEMOLITION: Court Denies Request to Reopen Ch. 11 Case
OMNICOMM SYSTEMS: Issues 6.9M Shares to Preferred Stockholders
OSAGE EXPLORATION: Meeting of Creditors Set for March 14
PADILLA CONSTRUCTION: Court Grants Insurer's Bid to Dismiss Suit
PARAGON OFFSHORE: Faces Lender Opposition to Smooth Chapter 11

PETERSBURG REGENCY: Hits LeClairRyan Hit With Malpractice Suit
PLY GEM HOLDINGS: Raging Capital Holds 5.4% Stake as of Dec. 31
PMC MARKETING: BAP Orders $16K Judgment in Trustee's Favor
PMC MARKETING: BAP Orders $22K Judgment in Trustee's Favor
POWERWAVE TECHNOLOGIES: Suit vs. Carrier Group Stays in Dist. Court

PRIMROSE LA SARA: Case Summary & 2 Unsecured Creditors
QUALITY DISTRIBUTION: Moab Capital No Longer Holds Common Shares
QUIKSILVER INC: Reorganization Plan Declared Effective
RADIOSHACK CORP: Judge OKs $5.5M Deal With Pa. Store Managers
RCS CAPITAL: Has Interim OK to Obtain $25-Mil. in DIP Loans

SABRA HEALTH: Sells Frisco Hospital in $96M HCA Holdings Deal
SAMUEL E. WYLY: Feds Say Wylys Can't Escape Fraud Allegations
SANDIA RESORTS: Court Finds 2nd Ch. 11 Filing Impermissible
SANUWAVE HEALTH: Amends Prospectus of 18.7 Million Units
SCIENTIFIC GAMES: Baker Street No Longer Holds Class A Shares

SCIENTIFIC GAMES: Fine Capital Beneficially Owns 9.7% CL-A Shares
SCIENTIFIC GAMES: Nantahala Capital, et al., Hold 9.6% A Shares
SCIENTIFIC GAMES: Park West Holds 3.4% of Class A Shares
SCIENTIFIC GAMES: Stone House Holds 7.6% of Class A Shares
SEAPORT AIRLINES: Owes $2,191 to Salina Airport Authority

SEARS HOLDINGS: Force Capital Reports 4.7% Stake as of Dec. 31
SELECT MEDICAL: Moody's Rates New $625MM Term Loan 'Ba2'
SELECT MEDICAL: S&P Lowers Rating on $625MM Secured Debt to 'B+'
SEQUENOM INC: Palo Alto, et al., Report 8.4% Stake as of Dec. 31
SEVENTY SEVEN ENERGY: May File for Bankruptcy

SFX ENTERTAINMENT: Bankruptcy Triggers Nasdaq Delisting
SFX ENTERTAINMENT: Has Interim Approval of $87.6M DIP Loan
SFX ENTERTAINMENT: Inks RSA Forbearance Agreement
SFX ENTERTAINMENT: Six-Month Cash Flow Budget Through July 2016
SHAPPHIRE RESOURCES: Post-Judgment Status Conference Set for March1

SHELLS SEAFOOD: Claim Purchaser Entitled to Same Priority
SIGA TECHNOLOGIES: Plan Confirmation Hearing Scheduled for April 5
SIMPLY WHEELZ: Court Approves Settlement with Merchants Automotive
SIMPLY WHEELZ: Court Dismisses Bankruptcy Case
SOMERSET REGIONAL: US Trustee Appoints Interim Chapter 11 Trustee

SPORTS AUTHORITY: Said to Be Closing 140 of 450 Outlets
SPRINT INDUSTRIAL: S&P Ratings on Watch Neg on Likely Default
SSNN-5532-34: Case Summary & 6 Unsecured Creditors
SSNN-RESIDENTIAL: Case Summary & 8 Unsecured Creditors
STANDARD INDUSTRIES: S&P Raises CCR From BB on Improved Earnings

STEREOTAXIS INC: DAFNA Capital Holds 6.4% Stake as of Dec. 31
SUN BANCORP: EJF Capital Reports 5.5% Stake as of Dec. 31
SUNEDISON INC: Barred from Asset Transfers in $150M Arbitration
TAYLOR-WHARTON: Committee Has EisnerAmper as Financial Advisor
TAYLOR-WHARTON: Committee Retains Rosner as Delaware Counsel

TRACK GROUP: Edison Investment Issues Updated Report
TRANSCOASTAL CORP: Blackhill Touts Completed Restructuring
TRELLIS EARTH: Case Summary & 20 Largest Unsecured Creditors
TRUSTEES OF CONNEAUT LAKE: To Sell 2 Lakefront Lots
UCI HOLDINGS: Defers $17.3 Million Interest Payment

UCI HOLDINGS: Names Alan Carr to Board of Directors
UCI HOLDINGS: S&P Rating Cut to CCC After Missed Interest Payment
UNIVERSITY GENERAL: Confirms Plan After Assets Sold for $33MM
UNIVERSITY GENERAL: Liquidating Plan Declared Effective
VARIANT HOLDING: Ex-Atty in Contempt for Hoarding Company Records

VARIANT HOLDING: Ex-Atty in Contempt, Hit With $20K Sanctions
VERSO CORP: NewPage $675M Loan Set for Feb. 24 Hearing
VILLAGE CHRYSLER: Says Chrysler Misrepresentations Warrant Sanction
WALTER ENERGY: Closes Sale of Non-Core U.S. Assets to Seminole
WEST CORP: Gary West Reports 9.8% Equity Stake as of Dec. 31

WEST CORP: QCP GP Investors Reports 4.5% Stake as of Dec. 31
WINDMILL RUN ASSOCIATES: Court Refuses to Lift Stay for Fannie Mae
XINERGY LTD: Plan of Reorganization Declared Effective
YELLOW CAB: Chicago Cab Co., Creditors Scolded for Discovery Row
YELLOWSTONE MOUNTAIN: Founder's Atty Ordered to Explain Negligence

YRC WORLDWIDE: Amici Capital Reports 0.9% Stake as of Dec. 31
ZOGENIX INC: Armistice Capital No Longer a Shareholder
ZOGENIX INC: Great Point Reports 6.1% Stake as of Dec. 31
ZOGENIX INC: RA Capital Reports 9.1% Stake as of Dec. 31
[*] Bankruptcy Attorney Jonathan Aberman Joins Dykema in Chicago

[*] Brucke Dopke Joins Stahl Cowen's Restructuring Team
[*] Chair Yellen Catches Heat for Fed's Handling of Living Wills
[*] Haynes and Boone Assessments of Oilfield Economics
[*] Heidi Sorvino Joins LeClairRyan's Manhattan Office
[*] K&L Adds Bryce D. Linsenmayer as Corporate/M&A Partner

[*] Levine Joins Morrison & Foerster's N.Y. Restructuring Practice
[*] Moody's: Lower Oil Price Outlook Increases Risk for Reg. Banks
[*] Now's The Time to Buy Bulk, AllianceBernstein Says
[*] Oil Bankruptcies May Exceed Recession Level, Deloitte Says
[*] PointState Said to Expand Distressed-Debt Effort

[*] Restructuring Partner Gregg Galardi Leaps to Ropes & Gray NY
[*] Ropes & Gray Cements NY Position with Gregg Galardi
[*] Texas Appeals Court Axes Atty Fees in Real Estate Blog Row
[*] Veteran Bankruptcy Litigator Joins Phillips Nizer in NY
[^] BOOK REVIEW: Transnational Mergers and Acquisitions


                            *********

22ND CENTURY: Crede CG Reports 9.9% Equity Stake as of Dec. 31
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Crede CG III, Ltd., Crede Capital Group, LLC, Acuitas
Financial Group, LLC, and Terren S. Peizer disclosed that as of
Dec. 31, 2015, they beneficially own 5,884,330 shares of Common
Stock and 2,250,000 shares of Common Stock issuable upon exercise
of Warrants of 22nd Century Group, Inc., representing 9.9 percent
of the shares outstanding.  A copy of the regulatory filing is
available for free at http://is.gd/m0tgp4

                      About 22nd Century

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

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

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


2622 LAKE: RAIT CRE to Auction Off Collateral on March 14
---------------------------------------------------------
RAIT CRE CDO I Ltd., as secured party, will sell one share of
certificate representing 100% of the limited liability company
interest of 2622 Lake LLC and all related rights to the highest
qualified bidder at a public sale on March 14, 2016, at 10:00 a.m.
(ET) at Reed Smith LLP, Three Logan Square, 1717 Arch Street, Suite
3100, Philadelphia, Pennsylvania.

The purchase price of the sale collateral must be paid at the time
of the sale immediately available funds, except that secured party
may pay the purchase price by crediting it against the unpaid
balance of the loan secured by the sale collateral.

Any prospective purchaser must purchase the sale collateral for its
own investment and account and not for subsequent resale of
distribution.

Prospective purchasers may participate in the sale either in person
or remotely by telephone.  For more information, contact Brian M.
Scheneker, Esq., at 215-851-8100.

2622 Lake LLC is the fee owner of the real estate and improvements
consisting of medical office space located at 2622 Lake Avenue,
Fort Wayne, Indiana.


3575 MOREAU: RAIT CRE to Auction Off Collateral on March 14
-----------------------------------------------------------
RAIT CRE CDO I Ltd., as secured party, will sell one share of
certificate representing 100% of the limited liability company
interest ("sale collateral") of 3575 Moreau LLC and all related
rights to the highest qualified bidder at a public sale on March
14, 2016, at 10:00 a.m. (ET) at Reed Smith LLP, Three Logan Square,
1717 Arch Street, Suite 3100, Philadelphia, Pennsylvania.

The purchase price of the sale collateral must be paid at the time
of the sale immediately available funds, except that secured party
may pay the purchase price by crediting it against the unpaid
balance of the loan secured by the sale collateral.

Any prospective purchaser must purchase the sale collateral for its
own investment and account and not for subsequent resale of
distribution.

Prospective purchasers may participate in the sale either in person
or remotely by telephone.  For more information, contact Brian M.
Scheneker, Esq., at 215-851-8100.

3575 Moreau LLC is the owner of the real estate and improvements
consisting of office space located at 3575 Moreau Court, South
Bend, Indiana.


6930 GETTYSBURG: RAIT CRE to Auction Off Collateral on March 14
---------------------------------------------------------------
RAIT CRE CDO I Ltd., as secured party, will sell one share of
certificate representing 100% of the limited liability company
interest of 6930 Gettysburg LLC and all related rights to the
highest qualified bidder at a public sale on March 14, 2016, at
10:00 a.m. (ET) at Reed Smith LLP, Three Logan Square, 1717 Arch
Street, Suite 3100, Philadelphia, Pennsylvania.

The purchase price of the sale collateral must be paid at the time
of the sale immediately available funds, except that secured party
may pay the purchase price by crediting it against the unpaid
balance of the loan secured by the sale collateral.

Any prospective purchaser must purchase the sale collateral for its
own investment and account and not for subsequent resale of
distribution.

Prospective purchasers may participate in the sale either in person
or remotely by telephone.  For more information, contact Brian M.
Scheneker, Esq., at 215-851-8100.

6930 Gettysburg LLC is the owner of the real estate and
improvements consisting of industrial located at 6930 Gettyburg
Pike, Fort Wayne, Indiana.


6932 GETTYSBURG: RAIT CRE to Auction Off Collateral on March 14
---------------------------------------------------------------
RAIT CRE CDO I Ltd., as secured party, will sell one share of
certificate representing 100% of the limited liability company
interest of 6932 Gettysburg LLC and all related rights to the
highest qualified bidder at a public sale on March 14, 2016, at
10:00 a.m. (ET) at Reed Smith LLP, Three Logan Square, 1717 Arch
Street, Suite 3100, Philadelphia, Pennsylvania.

The purchase price of the sale collateral must be paid at the time
of the sale immediately available funds, except that secured party
may pay the purchase price by crediting it against the unpaid
balance of the loan secured by the sale collateral.

Any prospective purchaser must purchase the sale collateral for its
own investment and account and not for subsequent resale of
distribution.

Prospective purchasers may participate in the sale either in person
or remotely by telephone.  For more information, contact Brian M.
Scheneker, Esq., at 215-851-8100.

6932 Gettysburg LLC is the fee owner of the real estate and
improvements consisting of industrial space located at 6932
Gettyburg Pike, Fort Wayne, Indiana.


ACTIVECARE INC: Needs More Time to File Dec. 31 Form 10-Q
---------------------------------------------------------
ActiveCare, Inc. filed with the U.S. Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
Dec. 31, 2015.  The Company said it needs additional time to
complete the presentation of its financial statements and the
analysis thereof.

                           About ActiveCare

South West Valley City, Utah-based ActiveCare, Inc., is organized
into three business segments based primarily on the nature of the
Company's products.  The Stains and Reagents segment is engaged in
the business of manufacturing and marketing medical diagnostic
stains, solutions and related equipment to hospitals and medical
testing labs.  The CareServices segment is engaged in the business
of developing, distributing and marketing mobile health monitoring
and concierge services to distributors and customers.  The Chronic
Illness Monitoring segment is primarily engaged in the monitoring
of diabetic patients on a real time basis.

The Company's business plan is to develop and market products for
monitoring the health of and providing assistance to mobile and
homebound seniors and the chronically ill, including those who may
require a personal assistant to check on them during the day to
ensure their safety and well being.

ActiveCare reported a net loss attributable to common stockholders
of $12.8 million on $6.59 million of chronic illness monitoring
revenues for the year ended Sept. 30, 2015, compared with a net
loss attributable to common stockholders of $16.4 million on $6.10
million of chronic illness monitoring revenues for the year ended
Sept. 30, 2014.

As of Sept. 30, 2015, the Company had $2.53 million in total
assets, $11.1 million in total liabilities, and a $8.60 million
total stockholders' deficit.

Tanner LLC, in Salt Lake City, Utah, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Sept. 30, 2015, citing that the Company has recurring losses,
negative cash flows from operating activities, negative working
capital, negative total equity, and certain debt that is in
default.  These conditions, among others, raise substantial doubt
about its ability to continue as a going concern.  


ADAMIS PHARMACEUTICALS: Sio Capital Has 9.8% Stake as Dec. 31
-------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Sio Capital Management, LLC disclosed that as of
Dec. 31, 2015, it beneficially owns 1,318,630 shares of common
stock of Adamis Pharmaceuticals Corporation representing 9.82
percent of the shares outstanding.  A copy of the regulatory filing
is available for free at http://is.gd/4seYhw

                           About Adamis

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

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

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

                        Bankruptcy Warning

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


ADT CORP: Fitch Downgrades Issuer Default Rating to 'BB'
--------------------------------------------------------
Fitch Ratings has downgraded the ratings of ADT Corporation (NYSE:
ADT), including the company's Issuer Default Rating (IDR), to 'BB'
from 'BBB-'. Fitch has also placed the ratings on Rating Watch
Negative following ADT's announcement that it has entered into a
definitive agreement to be acquired by an affiliate of certain
funds (the Apollo Funds) managed by affiliates of Apollo Global
Management, LLC (NYSE: APO).

ADT had about $5.4 billion of debt as of Dec. 31, 2015.

KEY RATING DRIVERS

The downgrade of the IDR to 'BB' reflects Fitch's expectation that
the company's credit metrics will be meaningfully weaker following
the completion of ADT's acquisition. Fitch expects leverage as
measured by debt to EBITDA will likely settle between 5x-5.5x on a
pro forma basis compared with 3.0x for ADT on a standalone basis
for the latest-12-months ended Dec. 31, 2015.

Acquisition by Apollo Funds

On Feb. 16, 2016, the company reached a definitive agreement to be
acquired by certain Apollo Funds for $42 per share. ADT is expected
to be merged with Prime Security Services Borrower LLC (Protection
1), a leading full-service business and home security company in
the U.S. also owned by the Apollo Funds.

The combined company will have total revenues of about $4.2 billion
and $318 million of recurring monthly revenue. Based on management
estimates, the combined company will have about 30% market share in
the North American residential monitored security market.
Protection 1's robust commercial presence will also further enhance
ADT's capabilities in the commercial sector.

Increased Leverage

The acquisition of ADT by the Apollo Funds will be funded by $1.555
billion of new first lien term loans, $3.14 billion of new second
lien loans, $750 million of preferred securities and $4.5 billion
of equity contribution from funds managed by Apollo.

Protection 1 expects that its existing $1.095 billion first lien
term loan and $260 million second lien term loan will remain
outstanding.

Protection 1 intends to redeem all of ADT's outstanding $750
million 2.25% senior unsecured notes due 2017 and $500 million
4.125% senior unsecured notes due 2019 and repay all outstanding
borrowings under ADT's revolving credit facility ($355 million as
of Dec. 31, 2015). ADT's remaining $3.75 billion of senior
unsecured notes will remain outstanding and will be guaranteed by
Protection 1 and all wholly-owned domestic subsidiaries of the
combined company and will be secured by first priority security
interests in substantially all of the assets of the issuer and
guarantors.

The combined company will have total debt of about $9.8 billion,
including $6.4 billion of first lien debt and $3.4 billion of
second lien loans. Fitch estimates that the combined company will
have pro forma debt to EBITDA of about 5.0x. As of Dec. 31, 2015,
ADT had debt to LTM EBITDA of about 3.0x.

Liquidity

Following the completion of the acquisition, ADT's revolver will be
repaid and terminated. Protection 1 will enter into a new $255
million first lien revolving facility concurrently with the closing
of the merger, bringing the total combined senior secured revolving
facility to $350 million.

Fitch expects to resolve the Negative Watch prior to completion of
the merger after it has an opportunity to review details about the
merged company's operating strategy, capital structure, integration
plans, and future FCF and leverage.

KEY ASSUMPTIONS

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

-- Completion of the acquisition of ADT by affiliates of the
    Apollo Funds;

-- ADT's $3.75 billion of senior unsecured notes are expected to
    remain outstanding and will be secured by first priority
    security interests in substantially all of the assets of the
    issuer and guarantors (including Protection 1 and its wholly-
    owned domestic subsidiaries). Fitch expects the remaining ADT
    notes will rank pari passu with the existing and new first-
    lien notes of the combined company;

-- Debt to EBITDA settles between 5.0x - 5.5x on a pro forma
    basis.

RATING SENSITIVITIES

Further negative rating actions will be considered if debt to
EBITDA is sustained above 5.0x for an extended period following the
completion of the acquisition of ADT.

The 'BB+/RR2' rating on ADT's senior notes that are expected to
remain outstanding after the acquisition may be downgraded if the
collateral securing these obligations are not on par with the
existing and new first-lien notes of the combined company.

Positive rating actions are unlikely in the near term.

FULL LIST OF RATING ACTIONS

Fitch has downgraded and placed the following ratings on Rating
Watch Negative:

ADT Corporation

-- Long-term IDR to 'BB' from 'BBB-';

-- $3.75 billion of senior notes 'expected to remain outstanding'

    to 'BB+/RR2' from 'BBB-';

-- Unsecured debt to 'BB/RR4' from 'BBB-'.



AEOLUS PHARMACEUTICALS: Biotechnology Value Reports 4.8% Stake
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Biotechnology Value Fund, L.P. disclosed that as of
Dec. 31, 2015, it beneficially owns 7,350,669 shares of common
stock of Aeolus Pharmaceuticals, Inc., representing 4.8 percent of
the shares outstanding.  Biotechnology Value Fund II, L.P. also
reported beneficial ownership of 3,730,929 shares.  A copy of the
regulatory filing is available at http://is.gd/ayI0YO

                   About Aeolus Pharmaceuticals

Mission Viejo, California-based Aeolus Pharmaceuticals, Inc., is a
Southern California-based biopharmaceutical company leveraging
significant government investment to develop a platform of novel
compounds in oncology and biodefense.  The platform consists of
over 200 compounds licensed from Duke University and National
Jewish Health.

The Company's lead compound, AEOL 10150, is being developed as a
medical countermeasure ("MCM") against the pulmonary sub-syndrome
of acute radiation syndrome ("Pulmonary Acute Radiation Syndrome"
or "Lung-ARS") as well as the gastrointestinal sub-syndrome of
acute radiation syndrome ("GI-ARS").  Both syndromes are caused by
acute exposure to high levels of radiation due to a radiological
or nuclear event.  It is also being developed for use as a MCM for
exposure to chemical vesicants such as chlorine gas, sulfur
mustard gas and nerve agents.

Aeolus reported a net loss of $2.62 million for the fiscal year
ended Sept. 30, 2015, compared to a net loss of $80,000 for the
fiscal year ended Sept. 30, 2014.

As of Dec. 31, 2015, the Company had $6.41 million in total assets,
$796,000 in total liabilities and $5.61 million in total
stockholders' equity.


AEOLUS PHARMACEUTICALS: Incurs $1.6-Mil. Net Loss in Fiscal Q1
--------------------------------------------------------------
Aeolus Pharmaceuticals, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss attributable to common stockholders of $1.61 million on
$305,000 of contract revenue for the three months ended Dec. 31,
2015, compared to a net loss attributable to common stockholders of
$698,000 on $925,000 of contract revenue for the same period in
2014.

As of Dec. 31, 2015, the Company had $6.41 million in total assets,
$796,000 in total liabilities and $5.61 million in total
stockholders' equity.

The Company had cash and cash equivalents of $5,444,000 on
Dec. 31, 2015, and $94,000 on Sept. 30, 2015.  The increase in cash
was primarily due to financing activities.

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

                       http://is.gd/JIbaMY

                   About Aeolus Pharmaceuticals

Mission Viejo, California-based Aeolus Pharmaceuticals, Inc., is a
Southern California-based biopharmaceutical company leveraging
significant government investment to develop a platform of novel
compounds in oncology and biodefense.  The platform consists of
over 200 compounds licensed from Duke University and National
Jewish Health.

The Company's lead compound, AEOL 10150, is being developed as a
medical countermeasure ("MCM") against the pulmonary sub-syndrome
of acute radiation syndrome ("Pulmonary Acute Radiation Syndrome"
or "Lung-ARS") as well as the gastrointestinal sub-syndrome of
acute radiation syndrome ("GI-ARS").  Both syndromes are caused by
acute exposure to high levels of radiation due to a radiological
or nuclear event.  It is also being developed for use as a MCM for
exposure to chemical vesicants such as chlorine gas, sulfur
mustard gas and nerve agents.

Aeolus reported a net loss of $2.62 million for the fiscal year
ended Sept. 30, 2015, compared to a net loss of $80,000 for the
fiscal year ended Sept. 30, 2014.


ALVION PROPERTIES: Disbursing Agent Objects to Dismissal Bid
------------------------------------------------------------
Disbursing Agent Robert E. Eggmann objects to the dismissal of
Alvion Properties, Inc.'s Chapter 11 Case, until the time all claim
objections have been adjudicated and the funds held by the
Disbursing Agent, representing net sale proceeds of the Debtor's
real estate in the sum of $1,537,355 have been distributed to
creditors holding filed and allowed claims.

The Professionals retained by the Official Committee of Unsecured
Creditors ask that the Motion to Dismiss be approved only subject
to modifications regarding payment of allowed fees and expenses of
the Professionals, so that any Order approving the Motion to
Dismiss should authorize the Debtor's disbursing agent to pay the
amounts allowed by the Bankruptcy Court under the Professionals'
fee applications prior to dismissal of the case, which exceed
$50,000 in the aggregate.

The Troubled Company Reporter previously reported that the Debtor
filed the motion on Jan. 13 in which it asked for the dismissal of
the case and approval to pay the remaining claims of five creditors
totaling $39,338.  The company had earlier paid more than $4.48
million to Farmers State Bank of Alto Pass, George Howard and SWRR
Properties Inc., and a group led by Coffman Law Group.

Alvion used the proceeds from the sale of its real properties to
pay the claims.  The sale generated more than $6.02 million, court
filings show.

The U.S. Bankruptcy Court for the Southern District of Illinois
will take up the motion at a hearing on Feb. 29.

Disbursing Agent is represented by:

     Robert E. Eggmann, Esq.
     DESAI EGGMANN MASON LLC
     7733 Forsyth Boulevard, Suite 800
     St. Louis, Missouri 63105
     Telephone: (314) 881-0800
     Facsimile: (314) 881-0820
     Email: reggmann@demlawllc.com

The Official Committee of Unsecured Creditors is represented by:

     Daniel C. Nester, Esq.
     Laura Uberti Hughes, Esq.
     BRYAN CAVE LLP
     One Metropolitan Square
     211 N. Broadway, Suite 3600
     St. Louis, MO 63102
     Telephone: (314) 259-2000
     Facsimile: (314) 259-2020
     Email: dcnester@bryancave.com
            laura.hughes@bryancave.com

     -- and --

     Bradford J. Sandler, Esq.
     Shirley S. Cho, Esq.
     PACHULSKI STANG ZIEHL & JONES LLP
     919 North Market St., 17th Fl.
     Wilmington, DE 19801
     Telephone: (302) 652-4100
     Facsimile: (302) 652-4400
     Email: bsandler@pszjlaw.com
            scho@pszjlaw.com

          About Alvion Properties

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

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

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

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

Antonik Law Offices serves as the Debtor's counsel.

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

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


AMBAC ASSURANCE: Ad Hoc Policyholder Group Taps Chadbourne
----------------------------------------------------------
A group of alternative asset managers (the "Ad Hoc Policyholder
Group") holding bonds totaling more than $3.3 billion in par
exposure insured by Ambac Assurance Corporation's ("AAC") "General
Account" has come together to advocate for the interests of General
Account policyholders in AAC's ongoing Wisconsin state-law
rehabilitation proceedings.  In the wake of the 2008-09 financial
crisis, AAC entered into rehabilitation proceedings culminating in
the approval of a plan that divided AAC's liabilities into
then-healthy "General Account" liabilities -- consisting primarily
of exposure to municipal and similar issuances—and "Segregated
Account" liabilities -- consisting primarily of exposure to
structured finance products.  AAC's plan of rehabilitation is
intended to foster the orderly rehabilitation of the troubled
liabilities assigned to the Segregated Account while treating as
structurally senior and fully preserving policy claims against the
General Account.

The Ad Hoc Policyholder Group has retained Chadbourne & Parke LLP
as its legal advisor in connection with the rehabilitation
proceedings and ongoing communications with AAC and its regulator,
the Wisconsin Commissioner of Insurance, who acts as AAC's
rehabilitator.  Chadbourne's mandate includes ensuring that any
further distributions to holders of claims against the structurally
subordinate Segregated Account do not impair AAC's continuing
ability to pay General Account creditors in full.  The recently
filed motion by certain creditors of the Segregated Account seeking
to force a dramatic increase in the payment percentage of their
claims illustrates the need for the Ad Hoc Policyholder Group's
participation in the process.

"Ambac's General Account risk profile has changed dramatically
since the Segregated Account was formed in 2010," said Lawrence A.
Larose, the Chadbourne partner leading the representation.  "In
particular, the General Account's risk on bonds issued by the
Commonwealth of Puerto Rico, Chicago Illinois, and their respective
affiliates, to name just a few, presents a significant and growing
challenge not anticipated at formation.  Ambac's obligation to our
clients extends almost 40 years into the future and must be
adequately addressed and provided for in any distribution to
creditors of the Segregated Account," Larose concluded.

                  About Chadbourne & Parke LLP

For more than a century, Chadbourne & Parke LLP has counseled
innovators around the world.  It is a full-service law firm that
leverages the extraordinary talent from our 11 international
offices to offer the highest caliber client service in more than 80
countries on six continents.  Today, it is recognized
internationally for its groundbreaking work in emerging economies
and our deep experience in energy and infrastructure, corporate and
finance transactions, international disputes, and bankruptcy and
financial restructuring, including municipal restructurings.

                   About Ambac Financial

Ambac Financial Group, Inc., headquartered in New York City, is a
holding company whose affiliates provided financial guarantees and
financial services to clients in both the public and private
sectors around the world.

Ambac Financial filed a voluntary petition for relief under Chapter
11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 10-15973)
in Manhattan on Nov. 8, 2010.  Ambac said it will continue to
operate in the ordinary course of business as
"debtor-in-possession" under the jurisdiction of the Bankruptcy
Court and in accordance with the applicable provisions of the
Bankruptcy Code and the orders of the Bankruptcy Court.

Ambac's bond insurance unit, Ambac Assurance Corp., did not file
for bankruptcy.  AAC is being restructured by state regulators in
Wisconsin.  AAC is domiciled in Wisconsin and regulated by the
Office of the Commissioner of Insurance of the State of Wisconsin.
The parent company is not regulated by the OCI.

Ambac's consolidated balance sheet -- which includes non-debtor
Ambac Assurance Corp -- showed US$30.05 billion in total assets,
US$31.47 billion in total liabilities, and a US$1.42 billion
stockholders' deficit, at June 30, 2010.

On an unconsolidated basis, Ambac said in a court filing that it
has assets of (US$394.5 million) and total liabilities of US$1.6826
billion as of June 30, 2010.

Bank of New York Mellon Corp., as trustee to seven different types
of notes, is listed as the largest unsecured creditor, with claims
totaling about US$1.62 billion.

Peter A. Ivanick, Esq., Allison H. Weiss, Esq., and Todd L. Padnos,
Esq., at Dewey & LeBoeuf LLP, serve as the Debtor's bankruptcy
counsel.  The Blackstone Group LP is the Debtor's financial
advisor.  Kurtzman Carson Consultants LLC is the claims and notice
agent.  KPMG LLP is tax consultant to the Debtor.

Anthony Princi, Esq., Gary S. Lee, Esq., and Brett H. Miller, Esq.,
at Morrison & Foerster LLP, in New York, serve as counsel to the
Official Committee of Unsecured Creditors.  Lazard Freres & Co. LLC
is the Committee's financial advisor.

Bankruptcy Creditors' Service, Inc., publishes AMBAC BANKRUPTCY
NEWS.  The newsletter tracks the Chapter 11 proceeding undertaken
by Ambac Financial Group and the restructuring proceedings of Ambac
Assurance Corp. (http://bankrupt.com/newsstand/or 215/945-7000).


AMERICAN AIRLINES: Envoy FAs Approve Contract Upgrades
------------------------------------------------------
Bloomberg Brief - Distress & Bankruptcy reported that members of
the Association of Flight Attendants-CWA ratified a tentative
agreement with Envoy Air Inc. that modifies a concessionary 2012
contract covering 1,200 employees, the union said on Feb. 12.

According to the report, improvements include annual pay increases
through 2020, when the current eight-year
contract will become amendable, and higher per diem and reserve
standby pay, the AFA said.  Flight attendants approved the
agreement by a vote of 76 percent to 24 percent, a union
spokeswoman said on Feb. 17, the report related.

The regional carrier, formerly called American Eagle, is a
subsidiary of Fort Worth, Texas-based AMR Corp., owner of American
Airlines, the report pointed out.

Negotiations on midterm changes began late last year, precluding
the need for binding arbitration scheduled to occur this year under
the contract, the Bloomberg report said.

                   About American Airlines

AMR Corp. and its subsidiaries including American Airlines, the
third largest airline in the United States, filed for bankruptcy
protection (Bankr. S.D.N.Y. Lead Case No. 11-15463) in Manhattan
on Nov. 29, 2011, after failing to secure cost-cutting labor
agreements.

The Debtors tapped Weil, Gotshal & Manges LLP as bankruptcy
counsel;  Paul Hastings LLP and Debevoise & Plimpton LLP Groom Law
Group, Chartered, as special counsel; Rothschild Inc., as
financial
advisor; and Garden City Group Inc. as claims and notice agent.

The Official Committee of Unsecured Creditors retained Jack
Butler,
Esq., John Lyons, Esq., Felecia Perlman, Esq., and Jay Goffman,
Esq., at Skadden, Arps, Slate, Meagher & Flom LLP as counsel;
Togut, Segal & Segal LLP as co-counsel for conflicts and other
matters; Moelis & Company LLC as investment banker; and Mesirow
Financial Consulting, LLC, as financial advisor.

AMR Corp., emerged from Chapter 11 bankruptcy protection on Dec.
9,
2013, upon which it merged with US Airways Group.  The combination
of American Airlines and US Airways will result in
the largest U.S. airline, with the leading share of traffic along
the East Coast and Central U.S. regions.


AMERICAN MEDIA: Incurs $2.28 Million Net Loss in Third Quarter
--------------------------------------------------------------
American Media, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $2.28 million on $55.1 million of total revenues for the three
months ended Dec. 31, 2015, compared to net income of $9.95 milion
on $60.14 million of total operating revenues for the same period
in 2014.

For the nine months ended Dec. 31, 2015, American Media reported
net income of $20.58 million on $173.18 million of total operating
revenues compared to a net loss of $30.86 million on $184.95
million of total operating revenues for the nine months ended
Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $423.52 million in total
assets, $437.96 million in total liabilities, $3 million in
redeemable noncontrolling interests and a total stockholders'
deficit of $17.41 million.

The Company disclosed that as of Dec. 31, 2015, it had
approximately $326.5 million of outstanding indebtedness,
consisting of $308.3 million of senior secured notes and $18.2
million under the revolving credit facility.

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

                       http://is.gd/o6cFME

                       About American Media

Based in New York, American Media, Inc., publishes celebrity
journalism and health and fitness magazines in the U.S.  These
include Star, Shape, Men's Fitness, Fit Pregnancy, Natural Health,
and The National Enquirer.  In addition to print properties, AMI
manages 14 different Web sites.  The company also owns
Distribution Services, Inc., an in-store magazine merchandising
company.

American Media, Inc., and 15 units, including American Media
Operations, Inc., filed for Chapter 11 protection in Manhattan
(Bankr. S.D.N.Y. Case No. 10-16140) on Nov. 17, 2010, with a
prepackaged plan.  The Debtors emerged from Chapter 11
reorganization in December 2010, handing ownership to former
bondholders.  The new owners include hedge funds Avenue Capital
Group and Angelo Gordon & Co.

American Media reported a net loss of $54.3 million on
$344 million of total operating revenues for the fiscal year ended
March 31, 2014, following a net loss of $56.2 million on $349
million of total operating revenues for the year ended March 31,
2013.

                           *     *     *

As reported in the Jan. 9, 2015 edition of the TCR, American Media
carries a 'Caa1' corporate family rating from Moody's.  American
Media's Caa1 CFR reflects the company's elevated total debt to
EBITDA leverage that Moody's expect will rise to the 8-9x range
(Moody's adjusted) over the rating horizon from about 7x as of
Sept. 30, 2014 as a result of lower EBITDA performance that
stems from a reduction in circulation sales associated with the
bankruptcy filing of AMI's second largest publications wholesaler,
Source Interlink Distribution ("Source").  The rating also captures
AMI's weak liquidity profile and deteriorating EBITDA cushion under
the revolver's first-lien leverage covenant resulting from the
lower circulation revenue aggravated by the Source bankruptcy,
which required temporary covenant relief through an amendment to
the credit facility.

The TCR reported on December 2015 that Standard & Poor's Ratings
Services raised its corporate credit rating on Boca Raton,
Fla.-based American Media Inc. to 'CCC+' from 'CCC'.  The upgrade
follows S&P's review of American Media's liquidity and capital
structure after company announced its fiscal third quarter
(ended Sept. 30, 2015) results.


APOLLO MEDICAL: Reports $1.68 Million Net Loss for 3rd Quarter
--------------------------------------------------------------
Apollo Medical Holdings, Inc., filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss attributable to the Company of $1.68 million on $10.65
million of net revenues for the three months ended Dec. 31, 2015,
compared to a net loss attributable to the Company of $1.69 million
on $7.64 million of net revenues for the same period in 2014.

For the nine months ended Dec. 31, 2015, the Company reported a net
loss attributable to the Company of $4.69 million on $32.23 million
of net revenues compared to a net loss attributable to the Company
of $1.99 million on $23.40 million of net revenues for the nine
months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $14.56 million in total
assets, $9.78 million in total liabilities, $7.07 million in
mezzanine equity and a total stockholders' deficit of $2.29
million.

The Company has a history of operating losses and as of Dec. 31,
2015, has an accumulated deficit of approximately $24 million, and
during the nine months ended Dec. 31, 2015, net cash used in
operating activities was approximately $1.8 million.

"Management is uncertain whether ongoing requirements for working
capital, debt service and planned capital expenditures will be
adequately funded from current sources for at least the next twelve
months.  Furthermore, the Company may need to obtain additional
financing or reduce its cost of operations to meet its ongoing
liquidity requirements and there is no assurance that the Company
will be successful in doing so," according to the report.

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

                       http://is.gd/jGMhbe

                       About Apollo Medical

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

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


ARCH COAL: Asks for Approval to Sell Knott County Assets
--------------------------------------------------------
BankruptcyData reported that Arch Coal filed with the U.S.
Bankruptcy Court a motion for entry of an order approving the sale
and transfers of certain assets and liabilities free and clear of
encumbrances, authorizing the Debtors to enter into a
securitization amendment.

The motion explains, "During the months leading up to the Petition
Date, the Selling Debtors engaged in discussions and negotiations
with the purchaser, well as other prospective purchasers, to sell
the Knott County Assets.

The Knott County Assets include Debtor ICG's 100% membership
interest in Debtor ICG Knott County, (the 'Sold Debtor'), a company
that holds certain property and idled operations generally located
in Knott, Letcher, Breathitt, Pike, Floyd, Leslie and Perry
Counties in Kentucky....The Selling Debtors believe that the Knott
County Sale would generate substantial value for their estates by
relieving them of significant liabilities with respect to idled
assets that they do not plan to use in the future, and that entry
of the Proposed Order is essential in order to achieve these
benefits….It is extremely unlikely that other purchasers could be
found in the near term for the Knott County Assets on similarly
favorable terms, given the size of the associated reclamation
liabilities and the current market environment.  The Selling
Debtors have therefore concluded, in the exercise of their sound
business judgment, that the Knott County Sale is fair and
reasonable, and that the Knott County Sale is in the best interests
of their estates and creditors....The Knott County MIPA includes
the following salient provisions: The Seller will transfer the
Knott County Assets and associated liabilities to Quest; At
closing, in consideration of Quest taking the Seller's Membership
Interests in ICG Knott County, the Seller will pay the sum of $2.3
million in cash, plus Estimated Closing Date Liabilities."

The Court scheduled a Feb. 23, 2016 hearing on the motion.

                         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.


ARCH COAL: Creditors Slam $275M Chapter 11 Financing Proposal
-------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Arch Coal's
unsecured creditors are fighting the company's bid for $275 million
in bankruptcy financing backed by the Debtor's senior lenders,
saying in court papers filed on Feb. 17, 2016, in Missouri federal
court that the deal includes terms that would severely limit the
debtor's liquidity.  The official committee of unsecured creditors
in Arch Coal's Chapter 11 case filed an objection to the company's
request for final approval of a debtor-in-possession financing
package, or DIP financing.

                         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.


ARCH COAL: Feb. 23 Final Hearing on DIP Financing Request
---------------------------------------------------------
Judge Charles E. Rendlen III of the U.S. Bankruptcy Court for the
Eastern District of Missouri, Eastern Division, gave Arch Coal,
Inc., and its debtor subsidiaries interim authority to obtain a
portion of the $275 million delayed draw term loan facility and use
cash collateral securing their prepetition indebtedness.

Judge Rendlen will convene a final hearing on February 23, 2016, at
10:00 A.M., to consider entry of a final order authorizing the
Debtors to borrow from the DIP Lenders under the DIP Documents up
to the full amount of the DIP Financing.

The Debtors told the Court that their liquidity is anticipated to
decline considering the deterioration of the coal market that would
place them in a difficult position to continue operations and
settle their obligations of approximately $2.2 billion in secured
indebtedness and an approximately $2.9 billion in aggregate
principal amount of senior unsecured notes.

Among the significant features of the Debtors' DIP Financing are:

   -- it has delayed draw feature minimizing interest expense;

   -- it requires that the Debtors satisfy certain milestones for
progress in the Chapter 11 case; and

   -- will allow the Debtors to incur up to $75 million of
superpriority claims in connection with the Debtors' self-bonded
obligations to certain governmental authorities, particularly
self-bonded reclamation obligations to the Wyoming Department of
Environmental Quality's Land Quality Division.

Moreover, the DIP Financing will permit the Debtors to continue
selling and/or contributing receivables pursuant to an amendment
and restatement of the Debtors' existing $200 million receivables
securitization facility to a non-Debtor, Arch Receivable Company,
LLC, pursuant to which the Debtors may obtain letters of credit to
secure the payment or performance of certain obligations in respect
of, among other things, crucial environmental an workers'
compensation obligations owed to state and federal regulatory
agencies, surety bond providers, insurers and other third parties.

The DIP accrues interest at (a) LIBOR Rate + 900 bps (subject to a
LIBOR floor of 1.0%) or (b) the Base Rate + 800 bps.  The DIP
matures on the earliest of (i) January 31, 2017, (ii) the
consummation of the sale of all or substantially all of the assets
of the Borrower and the Guarantors pursuant to section 363 of the
Bankruptcy Code and (iii) the date of the substantial consummation
of a Reorganization Plan that is confirmed pursuant to an order of
the Bankruptcy Court.

A full-text copy of the Interim DIP Order is available at
http://bankrupt.com/misc/ARCHCOALdipord0115.pdf

Arch Coal, Inc. is represented by:

     Marshall S. Huebner, Esq.
     Brian M. Resnick, Esq.
     Michelle M. McGreal, Esq.
     Kevin J. Coco, Esq.
     DAVIS POLK & WARDWELL LLP
     450 Lexington Avenue
     New York, New York 10017
     Telephone: (212) 450-4000
     Facsimile: (212) 607-7983
     Email: marshall.huebner@davispolk.com
            brian.resnick@davispolk.com
            michelle.mcgreal@davispolk.com
            kevin.coco@davispolk.com

     -- and --

     Lloyd A. Palans, Esq.
     Brian C. Walsh, Esq.
     Cullen K. Kuhn, Esq.
     Laura Uberti Hughes, Esq.
     BRYAN CAVE LLP
     One Metropolitan Square
     211 N. Broadway, Suite 3600
     St. Louis, Missouri 63102
     Telephone: (314) 259-2000
     Facsimile: (314) 259-2020
     Email: lapalans@bryancave.com
            brian.walsh@bryancave.com
            ckkuhn@bryancave.com
            laura.hughes@bryancave.com

          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.


ARCH COAL: Feb. 23 Hearing on Deal with Wyoming for Cleanup Relief
------------------------------------------------------------------
Tracy Rucinski at Reuters reported that Arch Coal Inc. has reached
a deal with the state of Wyoming that will provide it with
temporary relief from liability for millions of dollars in future
cleanup costs for coal mines, according to court documents.

In the past, companies like Arch Coal have covered the costs of
cleaning up mines through self-bonds that allowed them to use their
balance sheet as a guarantee.

Arch said in a court filing that the state of Wyoming and the
Wyoming Department of Environmental Quality (WDEQ) have agreed to
accept $75 million from a debtor-in-possession financing carve-out
in the bankruptcy.  That amount will cover cleanup costs related to
mines operated by Arch, including Black Thunder, one of the
country's largest mines, as well as the Coal Creek and Vanguard
mines.  An additional $17 million will be provided in third-party
collateral for four smaller mines, it said. While this is a
fraction of the total estimated cleanup costs of $485.5 million,
Arch must provide new bonds for the remaining amount once it
emerges from bankruptcy, according to the terms of the settlement.

The deal must be approved by a federal bankruptcy judge at a
hearing on Feb. 23.

In the filing, Arch said it estimates the final cleanup costs will
be significantly less than $485.5 million.  Still, it warned that
without temporary relief from cleanup obligations it would be
"faced with the limited options of closure or fire sale of the
Wyoming mines."  

                         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.


ARCH COAL: Floats $75M Deal Over Wyoming Environmental Obligations
------------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Arch Coal said
that on Feb. 9, 2016, that it has reached a $75 million agreement
with Wyoming environmental regulators that would resolve a dispute
over the company's need to post bonds in order to continue
operating its coal mines within the state as it moves to
restructure billions in debt.  The deal, which will need to be
approved by a Missouri bankruptcy judge, is between Arch Coal
Western Resources LLC, its subsidiaries, and the Wyoming Department
of Environmental Quality, which regulates the state's coal
industry.

                         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.


ARCH COAL: Has Until March 10 to File Schedules and Statements
--------------------------------------------------------------
The Hon. Charles E. Rendlen, III, of the U.S. Bankruptcy Court for
the Eastern District of Missouri extended until March 10, 2016,
Arch Coal, Inc., et al.'s time to file their:

   (a) schedules of assets and liabilities;

   (b) schedules of current income and expenditures;

   (c) schedules of executory contracts and unexpired leases; and

   (d) statements of financial affairs.

Judge Rendlen also ordered that:

   -- the Office of the U.S. Trustee is authorized to schedule the
meeting of creditors under Section 341 of the Bankruptcy Code on a
date that is more than 40 days after the Petition Date;

   -- the requirement under Bankruptcy Rule 1007(a)(3) to file
equity lists, and give notice to the equity security holders of the
Debtors is waived; and

   -- the Debtors are authorized to file a consolidated list of
their 30 largest unsecured creditors in lieu of each Debtor filing
a list of its 20 largest unsecured creditors.

As reported by the Troubled Company Reporter on Jan. 13, 2016, the
Debtors explained collection of the necessary information requires
an enormous expenditure of time and effort on the part of the
Debtors and their employees.  The Debtors asserted that the large
amount of information that must be assembled and compiled, the
multiple places where the information is located and the
potentially hundreds of employee and professional hours required to
complete the schedules constitute good and sufficient cause for
granting the requested extension of time.

                   List of Equity Security Holders

The Debtors maintained that preparing a list of Arch Coal, Inc.'s
equity security holders with last known addresses and sending
notices to all parties on that Equity List would be extremely
expensive and time-consuming.  The Debtors further added that, to
the extent it is determined that equity security holders are
entitled to distributions from the Debtors' estates, those parties
will be provided with notice of the bar date and will then have an
opportunity to assert their interests.  Thus, equity security
holders will not be prejudiced.

                List of 30 Largest Unsecured Creditors

According to the Debtors, numerous creditors are shared amongst
them.  Thus, the Debtors asserted that compiling separate top 20
creditor lists for each individual Debtor would consume an
excessive amount of their scarce time and resources.  Accordingly,
the Debtors request authority to file a single, consolidated list
of their 30 largest general unsecured creditors, which list was
filed together with the petitions.

Moreover, because the Debtors will request the United States
Trustee to appoint a single official committee of unsecured
creditors in these chapter 11 cases, a consolidated list of the
Debtors' largest creditors will better represent the Debtors' most
significant unsecured creditors, Mr. Walsh maintained.

                        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.


ARCH COAL: Spars with Creditors Over $275-Mil. Bankruptcy Loan
--------------------------------------------------------------
Tom Corrigan, writing for Dow Jones' Daily Bankruptcy Review,
reported that Arch Coal Inc.'s unsecured creditors have asked a
judge to pare down a requested $275 million bankruptcy loan by more
than half, saying the financing is both unnecessary and too
expensive.

According to the report, in an an objection filed Feb. 16, the
creditors urged Judge Charles Rendlen III to reconsider an earlier
interim order approving the loan, painting it as a gift to the
company's lenders, who would take home substantial fees and
interest.

                         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.


ARCH COAL: U.S. Trustee Sets March 10 as Meeting of Creditors
-------------------------------------------------------------
The U.S. Trustee for Region 13 will convene a meeting of creditors
in the Chapter 11 cases of Arch Coal, Inc., et al., on March 10,
2016, at 2:00 p.m.  The meeting will be held at Multi-Purpose Room
located at Thomas F. Eagleton U. S. Courthouse, 111 South 10th
Street, Suite 22.304, St. Louis, Missouri.

The Court also set May 9, 2016, as the dischargeability date or the
last day to oppose discharge.

                         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.
(Cecil -- Assigned Feb. 10; arch coal 75 1-13)
The U.S. Trustee for Region 13 will convene a meeting of creditors
in the Chapter 11 cases of Arch Coal, Inc., et al., on March 10,
2016, at 2:00 p.m.  The meeting will be held at Multi-Purpose Room
located at Thomas F. Eagleton U. S. Courthouse, 111 South 10th
Street, Suite 22.304, St. Louis, Missouri.

The Court also set May 9, 2016, as the dischargeability date or the
last day to oppose discharge.

                         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.
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.


ARGENT ENERGY: Chapter 15 Case Summary
--------------------------------------
Chapter 15 Petitioner: FTI Consulting Canada Inc.

   Chapter 15 Debtor                            Case No.
   -----------------                            --------
   Argent Energy (Canada) Holdings, Inc.        16-20060
   4500 Bankers Hall East
   855-2nd St. S.W.
   Calgary, Canada

   Argent Energy (US) Holdings, Inc.            16-20061
   1209 Orange Street   
   Wilmington, DE 19801
    
Type of Business: Owner of interests in oil and gas assets in
                  three states: Texas, Wyoming, and Colorado.

Chapter 15 Petition Date: February 17, 2016

Court: United States Bankruptcy Court
       Southern District of Texas (Corpus Christi)

Chapter 15 Petitioner's     William R. Greendyke, Esq.
Counsel:                    Jason L. Boland, Esq.
                            Andrew R. Black, Esq.
                            Bob B. Bruner, Esq.
                            NORTON ROSE FULBRIGHT US LLP
                            State Bar No. 24062637
                            1301 McKinney Street, Suite 5100
                            Houston, Texas 77010-3095
                            Tel: (713) 651-5151
                            Fax: (713) 651-5246
                        william.greendyke@nortonrosefulbright.com
                            jason.boland@nortonrosefulbright.com
                            andrew.black@nortonrosefulbright.com
                            bob.bruner@nortonrosefulbright.com

                              - and -

                            Louis R. Strubeck, Esq.
                            State Bar No. 19425600
                            louis.strubeck@nortonrosefulbright.com
                            2200 Ross Avenue, Suite 3600
                            Dallas, TX 75201
                            Tel: (214) 855-8000
                            Fax: (214) 855-8200

Estimated Assets: Unknown

Estimated Debts: Unknown


ARGENT ENERGY: Monitor Seeks US Recognition of CCAA Proceeding
--------------------------------------------------------------
Argent Energy (Canada) Holdings, Inc. and Argent Energy (US)
Holdings, Inc. sought protection under Chapter 15 of the Bankruptcy
Code (Bankr. S.D. Tex. Case Nos. 16-20060 and 16-20061,
respectively) after failing to repay $51.9 million under a credit
facility dated as of Oct. 25, 2012, with a lending syndicate
comprised of The Bank of Nova Scotia, Canadian Imperial Bank of
Commerce, Royal Bank of Canada, and Wells Fargo Bank, N.A.,
Canadian Branch, with The Bank of Nova Scotia as administrative
agent.

Contemporaneously with the filing of the petition, the Debtors,
through FTI Consulting Canada Inc., in its capacity as the
court-appointed monitor and authorized foreign representative, ask
the Bankruptcy Court to recognize in the United States a proceeding
pending in the Court of Queen's Bench of Alberta, Judicial Centre
of Calgary under the Companies' Creditors Arrangement Act.  CCAA is
a Canadian federal act that affords financially troubled
corporations the opportunity to restructure their financial
affairs.

Argent Canada and Argent US, owners of interests in oil and gas
assets in Texas, Wyoming, and Colorado, are part of a group of
companies who have been granted protection under the CCAA.  The
Canadian Court has appointed FTI as the monitor and authorized
foreign representative of the Debtors.  As part of the
restructuring process in the Canadian Proceeding and these related
Chapter 15 cases, the Debtors intend to sell their assets through a
court-supervised procedure.  On Feb. 17, 2016, the Canadian Court
granted an initial order, among other things, imposing a stay in
Canada prohibiting any proceeding or enforcement process against
the Canadian Debtors or their assets and approving a sale
solicitation process for the marketing and sale of Argent's
assets.

In papers filed with the Court, FTI said the global decline in oil
and gas prices triggered the bankruptcy filing.

"The severe decline in commodity prices has led to a significant
reduction in the value of Argent's reserves, such that the current
market value of the assets is now significantly less than Argent's
outstanding liabilities," according to William R. Greendyke, Esq.,
at Norton Rose Fulbright US LLP, counsel for the Monitor.  "In
addition, the oversupply of global oil production, coupled with
weakened demand for fuel in the global economy, has compressed the
margins that oil and gas suppliers like Argent can command," he
added.

The Debtors said that in 2014, they initiated a process to explore
a range of strategic alternatives, with BMO Capital Markets
providing assistance in that process.   As part of this strategic
review process, Argent considered all alternatives, including an
asset sale, a sale of Argent as a whole, a merger or business
combination, and a joint venture or farmout on a material portion
of Argent's assets.

The Debtors have engaged The Oil & Gas Asset Clearinghouse, LLC
entered to assist them in soliciting and evaluating offers for a
sale of (i) all of the equity interests of Argent US held by Argent
Canada, or (ii) some or all of Argent US's oil and gas properties.
The Debtors have offices in both Calgary, Alberta, Canada and
Houston, Texas, and the majority of the Debtors' assets are located
in the United States, like its hydrocarbon interests.

According to papers filed with the Court, Argent sold its interests
in the Manvel Field in Texas for gross proceeds of $20.5 million,
effective Jan. 1, 2015.  Additionally, On July 1, 2015, Argent
announced the sale of its interests in Oklahoma and Kansas for
gross proceeds of $20 million.  Proceeds of the sales were used to
pay down their Credit Facility.

Argent US owes its parent Argent Energy Trust over $100 million
under Intercompany Notes governed by Canadian Law and payable in
Canada, Court documents show.

Argent presently has 47 employees, most of whom are employed by
Argent US.


ATHABASCA OIL: Moody's Cuts Sr. Unsecured Rating to 'Ba3'
---------------------------------------------------------
Moody's Investors Service downgraded Athabasca Oil Sands
Investments Inc. (Athabasca Oil Sands) senior unsecured rating to
Ba3 from Baa3 and assigned a stable outlook. The debt of Athabasca
Oil Sands is guaranteed by Canadian Oil Sands Limited (Ba3 stable)
and its senior unsecured rating is equivalent to the senior
unsecured rating of COS. This action resolves the review for
downgrade that was initiated on December 16, 2015.

Downgrades:

Issuer: Athabasca Oil Sands Investments Inc.

-- Senior Unsecured Regular Bond/Debenture (Foreign Currency) Apr

    1, 2027, Downgraded to Ba3 from Baa3

Outlook Actions:

Issuer: Athabasca Oil Sands Investments Inc.

-- Outlook, Changed To Stable From No Outlook

RATINGS RATIONALE

Athabasca Oil Sands Ba3 CFR is based on a guarantee from Canadian
Oil Sands (COS). COS's Ba3 CFR reflects its stand-alone credit
profile of B2 and implicit support from its parent, Suncor Energy
Inc. for which we attribute two notches of rating uplift. COS's B2
stand-alone credit profile is driven by its very high cost
structure with all-in cash operating costs of C$55/bbl
(US$38.50/bbl) with associated negative free cash flow, but
supported by adequate liquidity and good asset value coverage. The
cash operating costs include operating and interest expense and
maintenance capex. Leverage and interest coverage will be very weak
in 2016 and 2017 (debt to EBITDA of about 10x and EBITDA to
interest of 2x in 2017) and COS will need to rely on its committed
liquidity and voluntary support from Suncor to fund negative free
cash flow of about $400 million through this period. COS has
performed poorly in recent years, suffering numerous operating
challenges that have hampered production and kept unit costs high.
COS benefits from very long-lived mining oil sands reserves with no
geologic or exploration risk, lower associated capex (about
C$7/barrel) given that all major development costs are largely
already spent and 100% synthetic crude oil production (SCO).

The SGL-3 Speculative Grade Liquidity Rating reflects COS's
adequate liquidity through 2016. At September 30, 2015 COS had
C$1.2 billion available on its C$1.5 billion revolving credit
facility due June 2019, which is sufficient to fund negative free
cash flow in 2016 of about C$300 million (and an estimated $100
million in 2017). However we expect that this facility may be
revised when Suncor completes the acquisition of 100% of COS, in
which case we assume that COS will continue to have adequate
liquidity. Moody's expects the COS to be in compliance with its
single financial covenant under the credit facility and the 2021
senior notes through this period. COSL has no debt maturities until
2019.

The stable outlook reflects improving metrics in 2017 based upon a
slightly higher Moody's oil price estimate.

The stand-alone credit profile could be upgraded from B2 if
debt/EBITDA and EBITDA/interest appear likely to improve towards 5x
and 2.5x, respectively and adequate liquidity is maintained. The
assigned Ba3 CFR, incorporating our opinion of likely support from
Suncor, could be upgraded if the stand-alone credit profile
improves and we continue to believe Suncor will support COS.

The stand-alone credit profile could be downgraded from B2 if
EBITDA to interest appears unlikely to improve towards 1.5x or if
liquidity is deemed weak. The assigned Ba3 CFR, incorporating our
opinion of likely support from Suncor, could be downgraded should
we adversely change our view of the support likely to be provided
by Suncor.

Athabasca Oil Sands Investment Inc. is a wholly-owned subsidiary of
Canadian Oil Sands Limited, a Calgary, Alberta-based subsidiary of
Suncor Energy Inc. Suncor's ownership stake is in process to 100%.
COS owns the largest working interest (36.74%) in the Syncrude
Joint Venture (Syncrude), while Suncor directly owns another 12%.
Syncrude, COS's sole asset, is a large oil sands mining and
upgrading operation in the Fort McMurray area of northern Alberta,
producing about 87,000 barrels/day (net of royalties) of synthetic
crude oil in 2015.


AXION INT'L: Committee Touts Offer From Industrial Assets
---------------------------------------------------------
After Axion International Inc. in January failed to obtain approval
of a (i) bidding process where a credit bid by secured creditor
Allen Kronstadt would open the auction, and (ii) a $2.2 million
loan from Plastic Ties Financing LLC, the Official Committee of
Unsecured Creditors said Feb. 4 that it has secured a replacement
proposed DIP lender and stalking horse bidder for the assets.

The Creditors Committee has filed a motion for appointment of a
Chapter 11 trustee to replace the Debtors' current management.  The
Committee said the Debtors have failed to consider other potential
replacement DIP lenders and pre-auction bidders.

"The Committee, without solicitation, has received inquiry
regarding the acquisition of the Debtors' assets.  On at least
three occasions, the interested party has indicated to Committee
counsel that they would be interested in acquiring the assets if
management is replaced, but they cannot get traction with the
Debtors to discuss."

"Most recently, the Committee was approached by a potential buyer
who felt it was being ignored by Debtors.  Industrial Assets first
contacted the Debtors in December, but it asserts it was ignored.
When they contacted the Debtors again in January, they were told to
wait until an investment banker was retained.  They then got access
to the data room, but no serious dialogue. When they contacted
Gordian again and offered to put up a minimum guarantee for a
liquidation which would leave the Debtors with all of its general
and bankruptcy causes of action to pursue, they were told the
Debtors preferred "a transaction".  They then had a call with
Gordian and indicated they would be pleased to come in as a DIP
lender or stalking horse buyer for an acquisition of the Debtors.
They never heard from Gordian or the Debtors again."

"Industrial Assets is a legitimate lead that the Debtors' failed to
pursue.  By ignoring them, the Debtors failed to realize a golden
opportunity to determine, at no cost to the estates, what a
liquidation would be worth.  The Committee continues to believe a
liquidation of the hard assets followed by pursuit of the many
causes of action unencumbered by Kronstadt's liens would allow the
Debtors to repay the DIP and return value to unsecured creditors,
but the Debtors refuse to test this theory."

"The Debtors also ignore a golden opportunity to replace the
Kronstadt DIP Loan, which has been a noose around the Debtors'
necks, with a takeout DIP Loan. With less than an hour of
discussion, Industrial Assets has provided the Committee with a
term sheet for a takeout DIP Loan that has significant benefits to
the estates and their creditors."

"The Debtors also ignore a golden opportunity to replace the
Kronstadt DIP Loan, which has been a noose around the Debtors'
necks, with a takeout DIP Loan.  With less than an hour of
discussion, Industrial Assets has provided the Committee with a
term sheet for a takeout DIP Loan that has significant benefits to
the estates and their creditors.  Not only does this proposed Term
Sheet provide more funding to the Debtors than the current DIP, it
is available for a much longer period of time, allowing the Debtors
to properly consider all options and have time to complete the Lien
Challenge, try to resolve Rutgers, and then have a robust sale
process."

"Furthermore, Industrial Assets has indicated it is not likely to
buy either the general or bankruptcy causes of action, which can
then be litigated or monetized for the benefit of the estates'
creditors.  While Industrial Assets may, like Kronstadt, try to use
a DIP Loan to parlay itself into the stalking horse bidder role,
and this Term Sheet needs to be negotiated, because it is a viable
alternative opportunity for the Debtors.  Makes one wonder what an
independent trustee who actually wants to shop the DIP and listen
to potential buyers and liquidators other than Kronstadt might
accomplish."

                          About Axion

Axion International, Inc., et al., manufacture, market and sell
structural products and building materials, with an emphasis on
railroad ties and construction mats. As of Dec. 2, 2015, Axion had
70 employees.

Axion International Holdings, Inc., is a publicly-traded company
(AXIH), organized under Colorado law, with executive offices
located in Zanesville, Ohio.  As of the Petition Date, Holdings had
54,121,611 shares of common stock, par value $0.016 per share,
traded on the OTCC Bulletin Board.

Axion International, Inc., Axion International Holdings, Inc. and
Axion Recycled Plastics Incorporated filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12415) on Dec. 2, 2015.
The petitions were signed by Donald W. Fallon, the CFO and
treasurer.  Judge Christopher S. Sontchi has been assigned to the
cases.

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

The Debtors tapped Bayard, P.A., as counsel.  Epiq Bankruptcy
Solutions, LLC serves as the Debtors' claims and noticing agent.

The Official Committee of Unsecured Creditors is represented by
Eric J. Monzo, Esq., at Morris James LLP and Sandra E. Mayerson,
Esquire., at the Law Offices Of Sandra Mayerson.


AXION INT'L: Committee Wants Management Replaced by Ch.11 Trustee
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors formed in Axion
International, Inc., et al.'s Chapter 11 cases will appear at a
hearing on Feb. 24, 2016, at 10:00 a.m. to ask the U.S. Bankruptcy
Court for the District of Delaware to approve its motion for the
appointment of a Chapter 11 trustee who will replace current
management of the Debtors.

"A month has passed since the hearing denying the final DIP order
and bidding procedures, and instead of seriously considering the
full gamut of options, the Debtors continue to try to force a
failed insider 363 sale on the Committee on a tight schedule that
this Court has already denied.  This time, the Debtors hope to have
the Court's blessing simply by adding Gordian Group and its
$250,000 upfront administrative expense fee, which actually puts
unsecured creditors in a worse position," the Committee pointed
out.

At a hearing on Jan. 4, 2016, Judge Christopher S. Sontchi denied
the Debtors' proposed bidding procedures that contemplated a
stalking horse bid from Allen Kronstadt, who has offered to
purchase the assets for a credit bid of his $5.2 million claim.  On
Feb. 3, the Debtors filed a motion seeking approval of revised bid
procedures, which still lets Kronstadt submit a credit bid and let
DIP lender submit a credit bid.  In the revised bidding procedures,
the Debtors said that effective Jan. 20, Gordian has resumed
providing services as investment banker in connection with its
efforts to sell.  The Debtors are proposing a March 14 bidding
deadline and a March 18 auction.

"The Gordian engagement is a clear attempt to 'muzzle' Gordian whom
the Debtors and Kronstadt viewed as critical of the sale process.
In fact, the new proposed engagement letter contains a sweeping
confidentiality provision that was not in the previous engagement
letter, and, on information and belief, is not typical of Gordian
engagement letters," the Committee tells the Court.

According to the Committee, although this new sale process is
dressed up with the imprimatur of a highly qualified investment
banker, it nonetheless will fail to maximize value for numerous
reasons:

  * Mr. Kronstadt is being allowed to credit bid despite the
Committee having demonstrated that there are significant colorable
challenges to his liens.  Not only is this highly inappropriate and
certain to chill bidding, see e.g., In re Fisker Auto. Holdings,
Inc. 510 B.R. 55, 61 (Bankr. D.Del. 2014), but it also
inappropriately moots the proposed Lien Challenge which is a
significant opportunity for creditors to realize value and has been
developed at great cost to the estates.  It is difficult to see how
a competing bidder would spend the time and money to engage in
meaningful due diligence if a combination of bidders, including one
with a highly dubious lien, can credit bid $13.5 million.

   * The Debtors' going concern value is tied to its superior
technology which is licensed to a great extent from Rutgers
University.  Rutgers has stated on the record that it believes its
license cannot be assumed due to non-monetary pre-petition
defaults.

   * No alternative to a 363 sale has been evaluated. The Committee
believes significantly more value will be realized by the estates
through a liquidation and pursuit of causes of action, or by a
reorganization.  The Debtors' failure to even consider alternatives
to Mr. Kronstadt has caused the Committee to lose confidence in
management.

    * As long as Mr. Kronstadt can control the sale process through
the DIP financing, as he has done, it is unlikely to produce a
salutary result; yet, Debtors have never shopped the DIP financing.
Alternatives are available, but the Debtors refuse to look at any
alternative that does not favor Kronstadt.

"The Court should see through Debtors' attempt to flagrantly abuse
the bankruptcy process to favor Kronstadt's suspect security
interests over the interests of the creditor body as a whole,
including unsecured creditors.  Because it is apparent that
management's ties to Kronstadt are wound too tightly to allow it to
fulfill its fiduciary duties to the creditors, the Committee
respectfully requests the appointment of a chapter 11 trustee so
that an independent assessment of Debtors' assets and options can
take place," the Committee said in the filing.

A copy of the Creditors Committee's Chapter 11 Trustee Motion is
available for free at:

http://bankrupt.com/misc/Axion_Intl_161_Panel_UCC_M_Trustee.pdf

                          About Axion

Axion International, Inc., et al., manufacture, market and sell
structural products and building materials, with an emphasis on
railroad ties and construction mats. As of Dec. 2, 2015, Axion had
70 employees.

Axion International Holdings, Inc., is a publicly-traded company
(AXIH), organized under Colorado law, with executive offices
located in Zanesville, Ohio.  As of the Petition Date, Holdings had
54,121,611 shares of common stock, par value $0.016 per share,
traded on the OTCC Bulletin Board.

Axion International, Inc., Axion International Holdings, Inc. and
Axion Recycled Plastics Incorporated filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12415) on Dec. 2, 2015.
The petitions were signed by Donald W. Fallon, the CFO and
treasurer.  Judge Christopher S. Sontchi has been assigned to the
cases.

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

The Debtors tapped Bayard, P.A., as counsel.  Epiq Bankruptcy
Solutions, LLC serves as the Debtors' claims and noticing agent.

The Official Committee of Unsecured Creditors is represented by
Eric J. Monzo, Esq., at Morris James LLP and Sandra E. Mayerson,
Esquire., at the Law Offices Of Sandra Mayerson.


AXION INT'L: Fails to Get Loan Approval; Key Hearing on Feb. 24
---------------------------------------------------------------
Axion International, Inc., in January was unable to obtain final
approval from the U.S. Bankruptcy Court for the District of
Delaware of:

     -- a $2.2 million credit facility from Plastic Ties
        Financing LLC, and

     -- its proposal to sell its assets via a credit bid, absent
        rival offers in a Jan. 18 auction.

On Nov. 24 to 25, 2015, before commencement of the Chapter 11
proceedings, the Debtors and Plastic Ties entered into a loan
facility pursuant to which Plastic Ties agreed to provide debt
financing to the Debtors upon certain terms and conditions and
ultimately subject to bankruptcy court approval.  To induce Plastic
Ties to make the DIP Loan, secured creditor Allen Kronstadt
subordinated his first-priority security interests in the Debtors'
assets to the security interests granted by the Debtors to Plastic
Ties.

On Nov. 25, Plastic Ties advanced $200,000 to the Debtors, which
was used to fund payroll, pay utilities and other operating
expenses, and purchase raw materials.  On Dec. 1, the Plastic Ties
advanced an additional $150,000 for payroll and operating expenses.
The parties agreed that the $350,000 was to be rolled into the DIP
Loan by court order.

On Dec. 2, the Debtors sought bankruptcy protection and filed a
motion to approve the DIP Loan.  The Debtors also filed a motion
for approval of bidding procedures that contemplated a quick sale
of the assets to Mr. Kronstadt in exchange for credit bidding $3.2
million of his $5.2 million claim and $500,000 in cash for
collateral that Mr. Kronstadt holds a second lien, absent higher
and better offers.

On Dec. 3, the Court held an interim hearing on the DIP Motion and
approved the DIP Loan on an interim basis, including the Roll-Up.
A copy of the Interim DIP Order is available for free at
http://bankrupt.com/misc/Axion_Intl_24_Int_DIP_Order.pdf

After entry of the Interim DIP Order, Plastic Ties said it advanced
the Debtors $500,000 in new funds under the DIP Loan, and deemed
the $350,000 prepetition advance as having paid in accordance with
the terms of the Interim DIP Order.

Objections were filed by (a) The Community Bank, which provided
$4,500,000 in term loans in 2013, (b) Gordian Group, which provided
investment banking services to the Debtors prepetition, and (c) the
Official Committee of Unsecured Creditors, to final approval of the
DIP financing.  The parties also objected to the Kronstadt-led sale
process.

After hearings conducted on Dec. 29, 2015 and Jan. 4, 2016, the
Court was unwilling to approve the Debtors' initially-proposed
bidding procedures, and consequently did not approve the DIP loan
on a final basis (for reasons stated on the record).

Because approval of the DIP Loan on a final basis would have
resulted in an immediate default (by virtue of the Court's denial
of the request for approval of bidding procedures), the Court did
not approve the DIP Loan on a final basis, according Plastic Ties.

As a final order was not entered on the DIP Loan, the Creditors
Committee believes that the Interim DIP Order has expired on its
terms and is no longer enforceable.

According to the Debtors, although the Court indicated that it
would not approve the Original Bidding Procedures (or the proposed
final DIP Loan order), Judge Christopher S. Sontchi indicated at
the Jan. 4 hearing that it would approve bidding procedures that
contemplated credit bidding by secured creditors against the assets
in which they hold security interests, ruling:

    I don't see any reason not to allow a credit bid here. It just

    needs to be limited to the actual collateral. I don't think  
    we've come close to a record that would meet the kinds of
    facts that were in play in the cases like Lone Star and the
    cases cited by the committee, that would prevent credit
    bidding or limit credit bidding to a sub-piece of the debt.
    So, again, credit bidding is fine.  It's a protection for
    secured creditors. It's fully appropriate, but it's got to be
    limited to the collateral and that needs to be specified.

Since Jan. 4, 2016, the Debtors have engaged Gordian (subject to
court approval) as their investment banker to run a Section 363
sale process.  On Feb. 3, the Debtors filed revised bidding
procedures, which contemplate a bid deadline of March 14 and an
auction on March 18.  Additionally, on Feb. 2, Community Bank
sought relief from the automatic stay with respect to its
collateral (alleging lack of equity), and more recently, on
Feb. 4, the Committee filed a motion for appointment of a chapter
11 trustee.  These matters will be heard on Feb. 24, 2016.

Attorneys for Debtors:

         BAYARD, P.A.
         Scott D. Cousins, Esq.
         Justin R. Alberto, Esq.
         222 Delaware Avenue, Suite 900
         Wilmington, DE 19801
         Tel: (302) 655-5000
         Fax: (302) 658-6395
         E-mail: scousins@bayardlaw.com
                 jalberto@bayardlaw.com

Counsel for the Official Committee of Unsecured Creditors:

         MORRIS JAMES LLP
         Eric J. Monzo, Esq.
         500 Delaware Avenue, Suite 1500
         P.O. Box 2306
         Wilmington, DE 19899-2306
         Tel: (302) 888-6800
         Fax: (302) 571-1750
         E-mail: emonzo@morrisjames.com

              - and -

         Sandra E. Mayerson, Esquire
         LAW OFFICES OF SANDRA MAYERSON
         136 E. 64th Street, Suite 11E
         New York, NY 10065
         Tel: (917) 446-6884
         Fax: (212) 750-1906
         E-mail: sandy@sandymayersonlaw.com

Attorneys for Plastic Ties Financing LLC:

         STEVENS & LEE, P.C.
         John D. Demmy, Esq.
         919 North Market St., Suite 1300
         Wilmington, DE 19801
         Tel: (302)425-3308
         E-mail: jdd@stevenslee.com

              - and -

         PILLSBURY WINTHROP SHAW PITTMAN LLP
         Patrick J. Potter, Esq.
         1200 Seventeenth Street, NW
         Washington, DC 20036
         Tel: (202) 663-8000
         Fax: (202) 663-8007

Attorneys for Allen Kronstadt:

         STEVENS & LEE, P.C.
         John D. Demmy, Esq.
         919 North Market St., Suite 1300
         Wilmington, Delaware 19801
         Tel: (302)425-3308

            - and -

         PILLSBURY WINTHROP SHAW PITTMAN LLP
         Patrick J. Potter (admitted pro hac vice)
         1200 Seventeenth Street, NW
         Washington, DC 20036
         Tel: (202) 663-8000
         Fax: (202) 663-8007

Counsel for The Community Bank:

         CROSS & SIMON, LLC
         Christopher P. Simon, Esq.
         Kevin S. Mann, Esq.
         1105 N. Market St., Suite 901
         Wilmington, DE 19801
         Tel: (302) 777-4200
         Fax: (302) 777-4224
         E-mail: csimon@crosslaw.com
                 kmann@crosslaw.com

Attorneys for Creditor Gordian Group LLC:

         THE ROSNER LAW GROUP LLC
         Frederick B. Rosner, Esq.
         Scott J. Leonhardt, Esq.
         824 Market Street, Suite 810
         Wilmington, Delaware 19801
         Telephone: (302) 777-1111
         E-mail: leonhardt@teamrosner.com

              - and -

         PERKINS COIE LLP
         Schuyler G. Carroll
         30 Rockefeller Center, 22nd Floor
         New York, NY 10112-0085
         Tel: (212) 262-6900
         Fax: (212) 977-1649

                          About Axion

Axion International, Inc., et al., manufacture, market and sell
structural products and building materials, with an emphasis on
railroad ties and construction mats. As of Dec. 2, 2015, Axion had
70 employees.

Axion International Holdings, Inc., is a publicly-traded company
(AXIH), organized under Colorado law, with executive offices
located in Zanesville, Ohio.  As of the Petition Date, Holdings had
54,121,611 shares of common stock, par value $0.016 per share,
traded on the OTCC Bulletin Board.

Axion International, Inc., Axion International Holdings, Inc. and
Axion Recycled Plastics Incorporated filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12415) on Dec. 2, 2015.
The petitions were signed by Donald W. Fallon, the CFO and
treasurer.  Judge Christopher S. Sontchi has been assigned to the
cases.

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

The Debtors tapped Bayard, P.A., as counsel.  Epiq Bankruptcy
Solutions, LLC serves as the Debtors' claims and noticing agent.

The Official Committee of Unsecured Creditors is represented by
Eric J. Monzo, Esq., at Morris James LLP and Sandra E. Mayerson,
Esquire., at the Law Offices Of Sandra Mayerson.


AXION INT'L: Kronstadt, DIP Lender Balk at Committee's Bid to Sue
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors formed in Axion
International, Inc., et al.'s Chapter 11 cases filed on Jan. 28,
2016, a motion asking the Bankruptcy Court to grant it derivative
standing to:

   (i) commence an adversary proceeding against prepetition lender
Allen Kronstadt to (i) recharacterize as equity rather than loans,
the $5.2 million that in 2012 through 2014, he advanced to the
Debtors pursuant to contemporaneously-negotiated and executed debt
and security instruments, and/or (ii) subordinate Mr. Kronstadt's
secured loans to the debts of unsecured creditors.

   (ii) "recharacterize" the roll-up of the $350,000 advanced by
DIP lender Plastic Ties immediately before the bankruptcy filing as
a prepetition unsecured or undersecured loan, and to have the
deemed repayment of the prepetition advance "disgorged" to the
Debtors' estates as an improper payment on a prepetition debt.

The Debtors asserted that Kronstadt has $5.2 million in outstanding
secured 8% convertible notes which are secured by (a) a second
priority perfected security interest in the State of Ohio
collateral and The Community Bank collateral, and (b) a first
priority perfected security interest in all of the other assets of
all three Debtors.  A review has permitted the Committee to
conclude that (a) Mr. Kronstadt does not have a valid, perfected
second lien on any of the collateral of The Community Bank; (b)
Kronstadt does not have a valid, perfected lien on the assets of
Recycled, and the purported lien can be avoided for the benefit of
the estate; (c) Mr. Kronstadt does not have a lien on certain
identifiable assets of Axion and Holdings; (d) cause exists to
recharacterize Mr. Kronstadt's "loans" as equity; and (e) cause
exists to equitably subordinate Mr. Kronstadt's liens.

As to Plastic Ties' $350,000 prepetition advance to the Debtors
which was repaid from the first draw on the interim DIP loan, the
Committee determined this was an improper attempt to convert a
pre-petition unsecured or undersecured debt into and a
post-petition first priority secured debt to the detriment of other
creditors.

"There is no question that whatever pre-petition advances were
made, they were made prior to the Petition Date, and any security
interest securing them, are pre-petition security interests which
are deeply subordinated," the Committee averred.

"Given the deep subordination, approximately $10 million in alleged
liens ahead of the DIP Lender and the value of Holdings and
Recycled assets, and given that there does not appear to even be a
lien at the Axion International level, it would appear that on the
Petition Date, the DIP Lender's collateral was worthless. The DIP
Lender may well be an unsecured creditor under 11 U.S.C. Sec.
506."

                   $5.2M Allen Kronstadt Claim

"The overwhelming documentary evidence and public filings
demonstrate that Kronstadt's advances to the Debtors under the
First and Second Note Purchase Agreements were intended (by both
Kronstadt and the Debtors) to be, and were at all times treated as,
secured debt.  Similarly, there is no evidence that Kronstadt
engaged in prepetition or postpetition inequitable conduct, let
alone conduct that harmed anyone, including the Debtors'
creditors," Mr. Kronstadt said in response to the Committee's
motion.

Mr. Kronstadt opposes the Committee's request to hold up the sale
process until the Committee prosecutes recharacterization and
equitable subordination claims aimed at stripping Kronstadt of his
liens.

"The Committee's strategy is ill-conceived: If a third party is
prepared to pay more than Kronstadt's $5.2 million secured debt
(net of the DIP loan), then there is no reason to hold up the
auction process.  A bidder at $8 million, for example, closes on
the transaction; the DIP loan is repaid; and all of the residual
proceeds are held in escrow pending resolution of the Committee's
challenge to Kronstadt's liens. Of course, the Committee is not
gaming the process based on any expectation of bids that high,"
Kronstadt said in a court filing.

Mr. Kronstadt began investing in stock of Axion in late 2007.  He
began providing Axion financing in 2012.  When he agreed to make
his loans, Kronstadt said he knew that the Company was in need of
cash and was at risk as a going concern.  He says that was, in
part, why he refused to continue contributing cash for equity and
insisted on lending on a secured basis.

The Debtors joined in Kronstadt's objection to the Committee's
motion.

                         $350,000 Roll-Up

The Committee seeks derivative standing to "recharacterize" the
roll-up of the $350,000 prepetition advance by Plastic Ties into
the DIP Loan as a prepetition unsecured or undersecured loan, and
to have the deemed repayment of the Prepetition Advance "disgorged"
to the Debtors' estates as an improper payment on a prepetition
debt.  The Committee seeks to challenge the roll-up treatment
afforded the Prepetition Advance under the Interim DIP Order.

The alleged grounds for reconsideration of the Interim DIP Order
include that the Term Sheet only required rolling up $200,000,
rather than $350,000.  The Committee also alleges that given the
value of the Debtors' assets and approximately $10 million in liens
ahead of the Prepetition Advance, Plastic Ties' collateral was
worthless and thus Plastic Ties was an unsecured creditor under
section 506 of the Bankruptcy Code.  By deeming the Prepetition
Advance satisfied and including it in the DIP Loan, the Committee
alleges that the Debtors converted a deeply subordinated
prepetition debt into a postpetition debt with the highest
priority.

In its objection to the Committee's Motion, Plastic Ties pointed
out that the Prepetition Advance was used by the Debtors for
payroll and other critical operating expenses that likely are
entitled to priority under various sections of the Bankruptcy Code,
including sections 105, 365, 503, and 507.  The DIP Lender noted
that creditors were not harmed by the Prepetition Advance, but
instead benefited from it because it provided the Debtors with
critical funding necessary to continue operating and get to a
bankruptcy filing.

Specifically, according to Plastic Ties, the Debtors used the
Prepetition Advance to pay (approximate amounts):

               Expense Category            Amount
               ----------------            ------
   Payroll and Employee Benefits         $185,528
   Rent                                   $48,896
   Purchase Raw Materials                 $43,208
   Utilities                              $33,000
   Operating Expenses                     $39,369

                          About Axion

Axion International, Inc., et al., manufacture, market and sell
structural products and building materials, with an emphasis on
railroad ties and construction mats. As of Dec. 2, 2015, Axion had
70 employees.

Axion International Holdings, Inc., is a publicly-traded company
(AXIH), organized under Colorado law, with executive offices
located in Zanesville, Ohio.  As of the Petition Date, Holdings had
54,121,611 shares of common stock, par value $0.016 per share,
traded on the OTCC Bulletin Board.

Axion International, Inc., Axion International Holdings, Inc. and
Axion Recycled Plastics Incorporated filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12415) on Dec. 2, 2015.
The petitions were signed by Donald W. Fallon, the CFO and
treasurer.  Judge Christopher S. Sontchi has been assigned to the
cases.

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

The Debtors tapped Bayard, P.A., as counsel.  Epiq Bankruptcy
Solutions, LLC serves as the Debtors' claims and noticing agent.

The Official Committee of Unsecured Creditors has tapped Morris
James LLP and the Law Offices of Sandra Mayerson as attorneys.


BEAZER HOMES: Brookfield No Longer Owns Shares as of Dec. 31
------------------------------------------------------------
Brookfield Investment Management Inc. reported in an amended
Schedule 13G filed with the Securities and Exchange Commission that
as of Dec. 31, 2015, it no longer owns shares of common stock of
Beazer Homes USA, Inc.  A copy of the regulatory filing is
available for free at http://is.gd/ZnyMaY

                       About Beazer Homes

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

As of Dec. 31, 2015, Beazer Homes had $2.33 billion in total
assets, $1.70 billion in total liabilities and $632.97 million in
total stockholders' equity.

                           *     *     *

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

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

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


BEAZER HOMES: Citadel Advisors Ceases as 5% Shareholder
-------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Citadel Advisors LLC, Citadel Advisors Holdings II LP,
Citadel GP LLC and Mr. Kenneth Griffin disclosed that as of
Dec. 31, 2015, they ceased to be the beneficial owner of more than
five percent of the common stock of Beazer Homes USA, Inc.

Specifically, Citadel Advisors beneficially owns owns 0.1% equity
stake, Citadel Advisors Holdings beneficially holds 0.2% equity
stake, Citadel GP beneficially owns 0.6% and Mr. Griffin
beneficially owns 0.6% equity stake.

Citadel Advisors is the portfolio manager for CG.  Citadel Advisors
II LLC, a Delaware limited liability company, is the portfolio
manager for CQ.  CAH2 is the managing member of Citadel Advisors
and CA2.  CALC II LP, a Delaware limited partnership, is the
non-member manager of Citadel Securities. CGP is the general
partner of CALC3 and CAH2.  Mr. Griffin is the president and chief
executive officer of, and owns a controlling interest in, CGP.

A copy of the regulatory filing is available for free at:

                      http://is.gd/3jYhin

                       About Beazer Homes

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

As of Dec. 31, 2015, Beazer Homes had $2.33 billion in total
assets, $1.70 billion in total liabilities and $632.97 million in
total stockholders' equity.

                           *     *     *

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

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

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


BERNARD L. MADOFF: Trustee Fights Proposed $64-Bil. Investor Suit
-----------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that the trustee
overseeing the liquidation of Bernie Madoff's shuttered securities
firm urged a New York bankruptcy judge to block a proposed
$64 billion class action suit against former Madoff associate
Jeffry Picower, saying on Feb. 11, 2016, the action is blocked by a
2011 settlement.

An attorney representing Madoff trustee Irving Picard told U.S.
Bankruptcy Judge Stuart Bernstein that the complaint is covered by
a $7.2 billion settlement that ended Picard's own suit against
Picower. The plaintiffs who filed the complaint, among others, are
Adele Fox, Susanne Stone Marwill, Marsha Peshkin.

                     About Bernard L. Madoff

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

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

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

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

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


BERNARD L. MADOFF: Trustee Shuts $11-Bil. Investor Suit for Now
---------------------------------------------------------------
Jody Godoy at Bankruptcy Law360 reported that a Manhattan federal
bankruptcy judge on Feb. 17, 2016, blocked the latest investor suit
targeting a Bernie Madoff associate for his role in Madoff's
massive Ponzi scheme, agreeing with the trustee for Madoff's
defunct securities firm that the $11 billion claims are preempted
by a 2011 settlement.

U.S. Bankruptcy Judge Stuart Bernstein said Pamela Goldman's suit
in Florida federal court seeking $11 billion in damages against the
estate of former Madoff investor Jeffry Picower is barred by a $7.2
billion settlement between Picower and Madoff trustee Irving
Picard.

                     About Bernard L. Madoff

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

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

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

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

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


BLACK DIAMOND MINING: Holmes Must Deposit Funds to Reopen Case
--------------------------------------------------------------
The bankruptcy court ordered Richard Holmes Enterprises, LLC, to
deposit funds into an escrow account if it wants to reopen the
bankruptcy case of Black Diamond Mining.  Holmes Enterprises moves
to stay that order.

In a Memorandum Opinion and Order dated February 5, 2016, which is
available at http://is.gd/A59zYsfrom Leagle.com, Judge Amul R.
Thapar of the United States District Court for the Eastern District
of Kentucky, Southern Division, denied Holmes Enterprises's motion
for stay pending appeal of the bankruptcy court's revised order.

To be entitled to a stay, Holmes Enterprises must show serious
questions as to whether the bankruptcy court abused its discretion
in using its equitable powers to condition the reopening of the
bankruptcy case on repayment, Judge Thapar held.  Holmes
Enterprises failed to make this showing, Judge Thapar ruled.

The case is In re BLACK DIAMOND MINING COMPANY, LLC, et al. TAFT A.
MCKINSTRY, Trustee of the BD Unsecured Creditors Trust, and
DINSMORE & SHOHL LLP, Appellants, v. RICHARD HOLMES ENTERPRISES,
LLC, Appellee, Civil No. 15-96-ART.

Dinsmore & Shohl LLP, Appellant, is represented by David James
Treacy, Esq. -- david.treacy@dinsmore.com
-- Dinsmore & Shohl LLP, Michael R. Limrick, Esq. --
mlimrick@hooverhullturner.com -- Hoover Hull Turner LLP,Patrick A.
Ziepolt, Esq. -- pziepolt@hooverhullturner.com -- Hoover Hull
Turner LLP & Wayne C. Turner, Esq. -- wturner@hooverhullturner.com
-- Hoover Hull Turner LLP.

Richard Holmes Enterprises, LLC, Appellee, is represented by C.
Thomas Ezzell, Esq. -- tezzell@gettylawgroup.com -- The Getty Law
Group, PLLC, Paul Smith, Esq. -- paulsmith@warejackson.com -- Ware
Jackson Lee O'Neill Smith & Barrow, LLP, Richard A. Getty, Esq. --
rgetty@gettylawgroup.com -- The Getty Law Group, PLLC & Timothy F.
Lee, Esq. -- timothylee@warejackson.com -- Ware Jackson Lee O'Neill
Smith & Barrow, LLP.

                About Black Diamond Mining

Headquartered in Pikeville, Kentucky, Black Diamond Mining Co.,
LLC, is a coal-mine operator formed in 2006.  The company
and seven of its affiliates sought Chapter 11 protection on
(Bankr. E.D. Ky. Case No. 08-70109) on March 4, 2008.  David M.
Cantor, Esq., at Seiller Waterman, LLC, represents the Debtors in
these cases.  The U.S. Trustee for Region 8 appointed creditors to
serve on an Official Committee of Unsecured Creditors.  Foley &
Lardner LLP represents the Committee in these cases.

Prudential Insurance Co. of America and subsidiaries of CIT Group
Inc., C.I.T. Capital U.S.A., Inc. and The C.I.T Group/Commercial
Services Inc., filed involuntary Chapter 11 petitions against
FCDC Coal Inc., Black Diamond Mining Co., Martin Coal Processing
Corp., Spurlock Energy Corp., Turner Elkhorn Mining Co., Wolverine
Resources, Inc. and Black Diamond Land Co. LLC on Feb. 19, 2008
(Bankr. E.D. Ky. Case Nos. 08-50369 to 08-50372 and 08-70066 to
08-70067).  Robert J. Brown, Esq., at Wyatt, Tarrant & Combs,
L.L.P., represent the petitioners.  According to the petitioners,
the Debtors owe them $150 million.  The Debtors schedules showed
$73,669,934 in total assets and $207,403,591 in total liabilities.

As reported in the Troubled Company Reporter on Feb. 25, 2008, the
petitioning creditors sought the appointment of a Chapter 11
trustee for the Debtors.  The petitioners alleged that the
Debtors' controlling equity owner Harold E. Sergent and other
shareholders are "hopelessly conflicted."  They insisted that the
company has no money since losing $25 million last year and they
had refused to dole out a single cent until a trustee assumes
control of the company and comes up with an appropriate budget.

The Court entered an order for relief on the involuntary petitions
on March 11, 2008.  Alvarez & Marsal North America LLC was
appointed to provide a chief restructuring officer for FCDC Coal
Inc. and Black Diamond Mining Co.

The Company filed a Chapter 11 plan in early 2009.  The Court on
July 23, 2009, entered an order confirming the Debtors' Third
Amended Joint Plan of Liquidation, as Modified.  On the effective
date of the Plan, the Unsecured Creditors Trust was created and
Taft A. McKinstry was appointed.

Harold Sergent filed his own chapter 7 bankruptcy petition (Bankr.
E.D. Ky. Case No. 10-50763) on March 9, 2010.  Phaedra Spradlin
was appointed the Chapter 7 Trustee.


BMB MUNAI: Incurs $105,000 Net Loss in Third Quarter
----------------------------------------------------
BMB Munai, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $104,908
on $0 of revenues for the three months ended Dec. 31, 2015,
compared to a net loss of $77,822 on $0 of revenues for the same
period in 2014.

For the nine months ended Dec. 31, 2015, the Company reported a net
loss of $389,233 on $0 of revenues.  The Company also reported a
net loss of $77,822 on $0 of revenues for the period from
Aug. 25, 2014, to Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $8.64 million in total assets,
$8.71 million in total liabilities and a total shareholders'
deficit of $72,604.

"Our ability to continue as a going concern is dependent upon,
among other things, our ability to generate revenues.  We are
currently generating net losses and we do not anticipate generating
revenue until (i) FFIN satisfies regulatory requirements to operate
as a securities broker-dealer in the United States and commences
business operations, or (ii) the closing conditions necessary to
complete the acquisitions of some or all of the Freedom Companies
are satisfied and the acquisitions are completed.  We cannot assure
that FFIN will satisfy regulatory requirements and commence
securities broker-dealer activities in the United States, or that
the closing conditions necessary to complete the acquisitions of
some or all of the Freedom Companies will be satisfied and the
acquisitions completed," the Company stated in the report.

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

                       http://is.gd/LZl0Ki

                         About BMB Munai

BMB Munai, Inc., is engaged in oil and natural gas exploration and
production through Emir Oil LLP, which was sold to a third party
entity in 2011.  The Company has been focused on satisfying its
post-closing undertakings in connection with the sale of Emir Oil,
winding down its operations in Kazakhstan and exploring oil and
gas opportunities.

BMB Munai reported a net loss of $18,800 on $0 of revenues for the
year ended March 31, 2015, compared with a net loss of $1.6 million
on $0 of revenues for the year ended March 31, 2014.

Eide Bailly LLP, in Salt Lake City, Utah, issued a "going concern"
qualification on the consolidated financial statements for the year
ended March 31, 2015, citing that BMB Munai, Inc. has no continuing
operations that result in positive cash flow.  This situation
raises substantial doubt about its ability to continue as a going
concern.


BON-TON STORES: Brigade Capital Reports 8% Stake as of Dec. 31
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Brigade Capital Management, LP, Brigade Capital
Management GP, LLC, and Donald E. Morgan, III disclosed that as of
Dec. 31, 2015, they beneficially own 1,453,356 shares of common
stock of The Bon-Ton Stores, Inc., representing 8 percent of the
shares outstanding.  Brigade Leveraged Capital Structures Fund Ltd.
also reported beneficial ownership of 1,168,356 common shares.  A
copy of the regulatory filing is available for free at:

                        http://is.gd/QTeJJ5

                       About Bon-Ton Stores

The Bon-Ton Stores, Inc., with corporate headquarters in York,
Pennsylvania and Milwaukee, Wisconsin, operates 270 stores, which
includes nine furniture galleries and four clearance centers, in
26 states in the Northeast, Midwest and upper Great Plains under
the Bon-Ton, Bergner's, Boston Store, Carson's, Elder-Beerman,
Herberger's and Younkers nameplates.  The stores offer a broad
assortment of national and private brand fashion apparel and
accessories for women, men and children, as well as cosmetics and
home furnishings.  For further information, please visit the
investor relations section of the Company's Web site at
http://investors.bonton.com.      

Bon-Ton Stores reported a net loss of $6.97 million on $2.75
billion of net sales for the fiscal year ended Jan. 31, 2015,
compared to a net loss of $3.55 million on $2.77 billion of net
sales for the fiscal year ended Feb. 1, 2014.  The Company reported
a net loss of $21.6 million for the fiscal year ended Feb. 2,
2013.

As of Oct. 31, 2015, the Company had $1.86 billion in total assets,
$1.88 billion in total liabilities and a total shareholders'
deficit of $17.79 million.

                           *     *     *

As reported in the TCR on Dec. 4, 2015, Moody's Investors Service
downgraded Bon-Ton Stores's Corporate Family Rating to Caa1 from
B3. The company's Speculative Grade Liquidity rating was affirmed
at SGL-2. The rating outlook is stable.  The downgrade considers
the continuing and persistent negative pressure on Bon-Ton's
revenue and EBITDA margins which has been accelerating during the
course of fiscal 2015.

Standard & Poor's Ratings Services in December 2015 lowered its
corporate credit rating Bon-Ton Stores to 'CCC+' from 'B-'.
The outlook is negative.  S&P said the downgrade reflects both
Bon-Ton's weakening performance and our forecast for an
unsustainable capital structure and "less than adequate" liquidity.


CAESARS ENTERTAINMENT: Bank Lenders Say Patience "Wearing Thin"
---------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that lenders holding
most of the first-lien debt in Caesars Entertainment's bankrupt
operating unit said on Feb. 10, 2016, in Illinois court that they
will support the business' request for additional breathing room as
it looks to restructure its debt, but indicated that negotiations
with financial stakeholders have stalled and that their patience is
"wearing thin."  In a court filing, Caesars Entertainment Operating
Co.'s first-lien lenders said they will not oppose the Debtor's
request to extend through July 15 the exclusive period during which
it can file a Chapter 11 plan.

                   About Caesars Entertainment

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

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

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

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

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

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

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

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

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


CAESARS ENTERTAINMENT: Creditors Threaten to Smash Framework Plan
-----------------------------------------------------------------
Tracy Rucinski at Reuters reported that senior creditors of Caesars
Entertainment Corp's bankrupt operating unit are threatening to
abandon a framework agreement and propose their own formal
restructuring plan soon as Feb. 15, 2016, court documents showed.

According to the report, until now, senior lenders and bondholders
have been the only creditors to back a framework agreement to slash
some $10 billion of debt from Caesars' operating unit, which filed
for bankruptcy with $18 billion of debt in January 2015.

But since that deal was revised in October, they say there has been
"a very substantial decline in the value of the debt and equity
securities proposed to be provided" to them, according to a Chicago
bankruptcy court filing late on Feb. 9, 2016.

"If sufficient progress toward a consensual plan is not made (...)
it may very well be that a plan proposed by the first lien bank and
noteholders becomes the most efficient means to allow (the company)
to emerge in a timely manner from bankruptcy," first-lien
noteholders said in the filing, according to the Reuters report.

Reuters notes that Caesars' plan has faced fierce opposition from
other creditor groups who accuse the company of looting its
operating unit of its best assets before the bankruptcy to benefit
private equity owners Apollo Global Management and TPG Capital
Management.

Those transactions are the subject of an independent examination,
which is due to be published later this month.

Caesars has already said it could revise its restructuring
agreement in light of the examiner's report and has proposed
mediation to help warring parties reach consensus in the
contentious case.

                   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.

                         *     *     *

The Troubled Company Reporter, on April 27, 2015, reported that
Fitch Ratings has affirmed and withdrawn the Issuer Default
Ratings (IDR) and issue ratings of Caesars Entertainment Operating
Company (CEOC).  These actions follow CEOC's Chapter 11 filing on
Jan. 15, 2015.  Accordingly, Fitch will no longer provide ratings
or analytical coverage for CEOC.

In addition, Fitch has affirmed the IDR and issue rating of
Chester Downs and Marina LLC (Chester Downs) and the ratings have
been simultaneously withdrawn for business reason.


CAESARS ENTERTAINMENT: Judge Declines to Authorize Mediation
------------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that a bankruptcy judge declined to authorize Caesars
Entertainment Operating Co. to enter mediation with creditors
warring over its reorganization, though he said such talks would be
a good idea.

According to the report, Judge A. Benjamin Goldgar of the U.S.
Bankruptcy Court in Chicago on Feb. 17 said it wasn't within his
power to grant Caesars's request to appoint a mediator to help the
company reach a restructuring deal with creditors.

                   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.


CAESARS ENTERTAINMENT: Paulson & Co. Holds 9.9% Stake as of Dec. 31
-------------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Paulson & Co. Inc. reported that as of Dec. 31, 2015,
it benefiically owns 14,458,300 shares of common stock of Caesars
Entertainment Corporation representing 9.98 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/vkATql

                   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.


CAMBIUM LEARNING: Moody's Withdraws Caa1 Corporate Family Rating
----------------------------------------------------------------
Moody's Investors Service has withdrawn all ratings and LGD
assessments of Cambium Learning Group, Inc., following the
redemption of the company's senior secured notes on February 15,
2016.

RATINGS RATIONALE

Cambium's ratings were withdrawn because Cambium no longer has
rated debt outstanding.

The following ratings and assessments were withdrawn:

Corporate Family Rating -- Caa1

Probability of Default Rating -- Caa1-PD

$140 million Senior Secured Notes due February 15, 2017 -- Caa1
(LGD-3, 46%)

Speculative Grade Liquidity Rating - SGL-2

Outlook, changed to Withdrawn from Stable

Headquartered in Dallas, TX, Cambium Learning Group, Inc.
("Cambium") provides evidence-based educational solutions and
professional services focused on helping students reach their full
potential.


CAMELBACK LLC: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Camelback, LLC
           dba Paddock Pools
        8178 E. Shea Blvd
        Scottsdale, AZ 85260

Case No.: 16-01413

Chapter 11 Petition Date: February 17, 2016

Court: United States Bankruptcy Court
       District of Arizona (Phoenix)

Judge: Hon. Eddward P. Ballinger Jr.

Debtor's Counsel: John C Smith, Esq.
                  SMITH & SMITH LAW OFFICES, PLLC
                  6720 E Camino Principal, Ste. 203
                  Tucson, AZ 85715
                  Tel: 520-722-1605
                  Fax: 520-722-9096
                  Email: john@smithandsmithpllc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John C. Smith, attorney for the Debtor.

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


CARDIAC SCIENCE: Freeborn & Peters Okayed as Committee Counsel
--------------------------------------------------------------
The Hon. Robert D. Martin of the U.S. Bankruptcy Court for the
Western District of Wisconsin authorized the Official Committee of
Unsecured Creditors in the Chapter 11 case of Cardiac Science
Corporation to retain Freeborn & Peters LLP as counsel, nunc pro
tunc to Nov. 4, 2015.

Freeborn is expected to, among other things:

   a. advise the Committee on all legal issues as they arise;

   b. advise the Committee on all motions and pleadings filed by
the Debtor and other parties-in-interest and responding to the
same; and

   c. represent and advise the Committee regarding the terms of any
sale of assets or plan of reorganization or liquidation and
assisting the Committee in negotiations with the Debtor and other
parties.

Freeborn will charge for its legal services on an hourly basis:

         New Associates                      $250
         Senior Partners                     $615
         Paraprofessional                 $200 - $280

The hourly rates for the Freeborn professionals expected to have
primary responsibility for the case are:
   
         Shelly A. DeRousse (partner)         $400
         Devon J. Eggert (partner)            $370
         Elizabeth L. Janczak (associate)     $290

The Committee has also agreed to reimburse Freeborn for all actual
out-of-pocket expenses incurred.

To the best of the Committee's knowledge, Freeborn does not hold or
represent any interest adverse to the Committee or the creditors of
the Debtor's estate.  Freeborn, however, has represented or may
currently represent several of the Debtor's creditors or
parties-in-interest in connection with matters unrelated to the
case.

The firm can be reached at:

         Shelly A. DeRousse, Esq.
         Devon J. Eggert, Esq.
         Elizabeth L. Janczak, Esq.
         FREEBORN & PETERS LLP
         311 South Wacker Drive, Suite 3000
         Chicago, IL 60606-6677
         Tel: (312) 360-6000
         Fax: (312) 360-6520
         E-mail: sderousse@freeborn.com
                 deggert@freeborn.com
                 ejanczak@freeborn.com

                        About Cardiac Science

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

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

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

Judge Robert D. Martin presides over the case.

The Debtor disclosed total assets of $45,335,596 plus an
undetermined amount and $104,715,678 plus an undetermined amount as
of the Chapter 11 filing.  Celestica Electronics (M) SDN BHD is the
Debtor's largest unsecured creditor holding a claim of $2.5
million.  CFS 915 LLC is the largest creditor of the Debtor, and
its $87 million pre-petition loan is secured by substantially all
of the Debtor's assets. CFS has agreed to provide $10 million in
postpetition financing for the Debtor.

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

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



CARDINAL L.S.D: Moody's Lowers GO Rating to 'B1'
------------------------------------------------
Moody's Investors Service has downgraded to B1 from Baa2 the
general obligation (GO) rating on Cardinal Local School District,
OH, affecting $7.5 million of Moody's-rated debt. The rating is
under review for further downgrade.

The downgrade to B1 reflects the district's default on a December
2015 GO debt service payment that was subsequently paid in full on
February 2, 2016; ongoing structural imbalance which has led to
narrow cash reserves and lack of revenue raising flexibility
without voter support. The rating also incorporates the district's
modestly-sized tax base which has seen recent growth in
agricultural values.

Rating Outlook

The B1 rating is under review for possible downgrade as the
district faces severe cash pressures and other potential risks to
its credit profile. We expect to resolve our review once we assess
these risks. Our review will include confirmation of the district's
ability to make timely debt service payments on all outstanding
obligations, to maintain sufficient cash flows for ongoing
operations, as well as a review of the legal covenants pursuant to
a private placement of GOLT debt in 2015. We will consider all
factors relevant to an understanding of the district's ongoing
management of its operations, liquidity, and debt profile.

Factors that Could Lead to an Upgrade

Restoration of operational balance that positions the district for
growth in liquidity

Passage of further operating levies resulting in substantial
increases to reserve levels

Factors that Could Lead to a Downgrade

Further delays and/or defaults in debt service

Inability to gain voter support for new levies

Failure to maintain positive operations and restore General Fund
cash reserves

Legal Security

The district's outstanding bonds are secured by a general
obligation unlimited tax pledge which benefits from a dedicated
property tax levy which is not limited as to rate or amount. The
privately placed Series 2015 debt is secured by the city's general
obligation limited tax pledge, subject to the ten mill limitation
defined in Ohio law.

Use of Proceeds. Not applicable.

Obligor Profile

The district is located 35 miles southeast of Cleveland (A1 stable)
in Geauga County, and encompasses the village of Middlefield and
several surrounding towns. In 2015, the district had an approximate
population of 15,000 and enrolled 1,155 students.


CARLBROOK SCHOOL: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

    Debtor                                        Case No.
    ------                                        --------
    The Carlbrook School, LLC                     16-60268  
    3046 Carlbrook Road
    South Boston, VA 24592

    Carlbrook Properties, LLC                     16-60269
    3046 Carlbrook Road
    South Boston, VA 24592

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: February 17, 2016

Court: United States Bankruptcy Court
       Western District of Virginia (Lynchburg)

Judge: Paul M. Black

Debtors' Counsel: Andrew S Goldstein, Esq.
                  MAGEE GOLDTEIN LASKY & SAYERS, P.C.
                  P O BOX 404
                  Roanoke, VA 24003
                  Tel: 540 343-9800
                  Email: agoldstein@mglspc.com

                    - and -

                  Garren R. Laymon, Esq.
                  MAGEE GOLDSTEIN LASKY & SAYERS, PC
                  P. O. Box 404
                  Roanoke, VA 24003
                  Tel: (540) 343-9800
                  Fax: (540)343-9898
                  Email: glaymon@mglspc.com

Debtors'          WOLTZ & ASSOCIATES, INC.
Auctioneer:

                                       Estimated    Estimated
                                         Assets    Liabilities
                                      ----------   -----------
The Carlbrook School                  $100K-$500K   $1MM-$10MM
Carlbrook Properties                  $1MM-$10MM    $1MM-$10MM

The petition was signed by Justin J. Merritt, managing member of
Education
Management Services, LLC, manager of The Carlbrook School, LLC.

A list of Carlbrook School's 20 largest unsecured creditors is
available for free at http://bankrupt.com/misc/vawb16-60268.pdf


CHINA NATURAL: Receives NASDAQ Listing Non-Compliance Notice
------------------------------------------------------------
China Natural Resources, Inc. (CHNR), a company based in the
People's Republic of China, on Feb. 16 disclosed that, on February
9, 2016, the Company received a written notice from the Listing
Qualifications department of The Nasdaq Stock Market (the "Notice")
indicating that the Company is not in compliance with the $35
million market value of listed securities ("MVLS") requirement set
forth in Nasdaq Rule 5550(b)(2) for continued listing on The Nasdaq
Capital Market.  The Nasdaq Rule requires listed securities to
maintain a minimum MVLS of $35 million and, based upon the closing
bid price of the Company's common shares for the 30 consecutive
business day measurement period, the Company no longer meets this
requirement.  The Notice indicates that the Company will be
provided 180 calendar days (until August 8, 2016) in which to
regain compliance.

If at any time during this compliance period the MVLS of the
Company's common shares closes at or above $35 million for a
minimum of ten consecutive business days, or the Company
demonstrates compliance with one of the alternative continued
listing standards, the Nasdaq Staff will provide the Company with a
written confirmation of compliance and the matter will be closed.
In the event the Company does not regain compliance with Rule
5550(b)(2), or satisfy one of the alternative continued listing
standards, prior to expiration of the 180-calendar day compliance
period, the Nasdaq Staff will provide the Company with written
notification that its securities are subject to delisting from The
Nasdaq Capital Market.  At that time, the Company may appeal the
delisting determination to a Hearings Panel.

The Company is actively evaluating several business transactions
which the Company believes, if consummated, will enable it to
achieve compliance with Nasdaq continued listing criteria.

              About China Natural Resources, Inc.:

China Natural Resources, Inc., a British Virgin Islands
corporation, through its operating subsidiaries in the People's
Republic of China, is currently engaged in the acquisition and
exploitation of mining rights, including the exploration, mineral
extraction, processing and sale of iron, zinc and other nonferrous
metals, extracted or produced at mine primarily located in Anhui
Province in the PRC.  Due to the depressed market price of metals,
it is currently not economical to engage in metal mining activities
and, accordingly, effective December 27, 2015, mining operations at
the Company's sole current mining property were temporarily
suspended.


COMMUNITY HOME: March 22 Status Conference on Conversion of Case
----------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Mississippi
is set to hold a status conference on March 22 on the proposed
conversion of Community Home Financial Services Inc.'s Chapter 11
case to a Chapter 7 liquidation.

Edwards Family Partnership LP and Beher Holdings Trust, both
creditors of the company, proposed the conversion, which had drawn
opposition from the company's Chapter 11 trustee and the U.S.
trustee overseeing the case.

Also to be discussed at the status conference is the company's
Chapter 11 plan of liquidation proposed by its bankruptcy trustee.


Judge Edward Ellington earlier signed off on an order that resolved
objections to the liquidating plan filed by the two creditors and
The Debt Exchange Inc.  A copy of the order is available for free
at http://is.gd/skFY5L

                 About Community Home Financial

Community Home Financial Services, Inc., filed a Chapter 11
petition (Bankr. S.D. Miss. Case No. 12-01703) on May 23, 2012.
The petition was signed by William D. Dickson, president.

Community Home Financial is a specialty finance company located in
Jackson, Mississippi, providing contractors with financing for
their customers.  CHFS operates from one central location providing
financing through its dealer network throughout 25 states, Alabama,
Delaware, and Tennessee.  The Debtor scheduled $44.9 million in
total assets and $30.3 million in total liabilities.  Judge Edward
Ellington presides over the case.

The Debtor was first represented by Roy H. Liddell, Esq., and
Jonathan Bissette, Esq., at Wells, Marble, & Hurst, PPLC as Chapter
11 counsel.  Wells Marble was terminated Nov. 13, 2013.

The Debtor is now being represented by Derek A. Henderson, Esq., in
Jackson, Miss.  In 2013, the Debtor sought to employ David Mullin,
Esq., at Mullin Hoard & Brown LLP, as special counsel.

On Jan. 9, 2014, Kristina M. Johnson was appointed as Chapter 11
Trustee for the Debtor.  Jones Walker LLP serves as counsel to the
Chapter 11 trustee, while Stephen Smith, C.P.A., acts as
accountant.


COMSTOCK MINING: Van Den Berg Has 19.8% Stake as of Dec. 31
-----------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Van Den Berg Management I, Inc. disclosed that as of
Dec. 31, 2015, it beneficially owns 30,189,136 shares of common
stock of Comstock Mining Inc. representing 19.87 percent of the
shares outstanding.  A copy of the regulatory filing is available
at http://is.gd/KFAEvP

                       About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.  The Company began acquiring
properties in the Comstock District in 2003.  Since then, the
Company has consolidated a substantial portion of the Comstock
district, secured permits, built an infrastructure and brought the
exploration project into test mining production.  The Company
continues acquiring additional properties in the Comstock
district, expanding its footprint and creating opportunities for
exploration and mining.  The goal of the Company's strategic plan
is to deliver stockholder value by validating qualified resources
(measured and indicated) and reserves (probable and proven) of
3,250,000 gold equivalent ounces by 2013, and commencing
commercial mining and processing operations by 2011, with annual
production rates of 20,000 gold equivalent ounces.

Comstock Mining reported a net loss available to common
shareholders of $15.9 million on $18.5 million of total revenues
for the year ended Dec. 31, 2015, compared to a net loss available
to common shareholders of $13.3 million on $25.6 million of total
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $43.2 million in total assets,
$24.5 million in total liabilities and $18.8 million in total
stockholders' equity.


CONSOLIDATED BEDDING: Settles With FXI in Antirust MDL
------------------------------------------------------
Matthew Bultman at Bankruptcy Law360 reported that bankrupt
mattress maker Consolidated Bedding Inc. and its affiliates have
agreed to settle with FXI Holdings Inc. over allegations in a
multi-district litigation that it plotted with other polyurethane
foam companies to fix prices, according to documents filed on Feb.
11, 2016.  The Company's bankruptcy trustee, Alfred T. Giuliano,
recently told an Ohio federal judge an agreement had been reached
to dismiss claims that had been brought against FXI on behalf of
companies in Consolidated Bedding's bankruptcy estate.  U.S.
District Judge Jack Zouhary signed off on the dismissal.

Consolidated Bedding, Inc., owned and operated mattress
manufacturing facilities.  Consolidated was created as a part of a
2005 transaction where defendant American Bedding Industries, Inc.
("American Bedding") merged with Spring Air Partners—North
America, Inc. ("SAPNA").  On May 5, 2009, Consolidated Bedding
closed the facilities.  On May 29, 2009, Consolidated Bedding and
certain affiliated businesses filed voluntary petitions for relief
under chapter 7 of the Bankruptcy Code (Case No. 09-11875).  Alfred
T. Guiliano (the "Trustee") was appointed as the Chapter 7 trustee
of the Debtors' estates.


CROWN MEDIA: J.P. Morgan Partners No Longer Owns Common Shares
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, J.P. Morgan Partners (BHCA), L.P. disclosed that as of
Dec. 31, 2015, it has ceased to be the beneficial owner of shares
of common stock of Crown Media Holdings, Inc.  A copy of the
regulatory filing is available for free at http://is.gd/wu7Ugc

                      About Crown Media

Crown Media Holdings, Inc., is the corporate parent for the
portfolio of cable networks and related businesses under Crown
Media Family Networks.  The company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to 86 million subscribers in the U.S.
Hallmark Channel is the nation's leading destination for quality
family programming with an ambitious slate of TV movies and
specials; original scripted series, including Cedar Cove, When
Calls the Heart, and Signed, Sealed, Delivered; as well as some of
television's most beloved sitcoms and series.  Hallmark Channel's
sibling network, Hallmark Movie Channel, is available in 54
million homes in HD and SD. One of America's fastest-growing cable
networks, Hallmark Movie Channel provides family-friendly original
movies with a mix of original films, classic theatrical releases,
and presentations from the acclaimed Hallmark Hall of Fame
library.  In addition, Crown Media Family Networks includes the
online offerings of http://www.HallmarkChannel.com/and
http://www.HallmarkMovieChannel.com/    

As of Sept. 30, 2015, the Company had $1.03 billion in total
assets, $500 million in total liabilities and $539 million in total
stockholders' equity.

                           *     *     *

As reported by the TCR on July 3, 2015, Standard & Poor's Ratings
Services said that it raised its corporate credit rating on Crown
Media Holdings Inc. to 'BB-' from 'B+'.  "The upgrade reflects
Crown Media's improved financial risk profile," said Standard &
Poor's credit analyst Naveen Sarma.

As reported by the TCR on July 2, 2014, Moody's Investors Service
upgraded the Corporate Family Rating (CFR) of Crown Media
Holdings, Inc. to B1 from B2, its Probability of Default Rating to
B1-PD from B2-PD, and instrument ratings.  The outlook is stable.
The upgrade incorporates evidence of traction with the original
programming strategy and better than expected performance, which,
combined with debt reduction, improved the credit profile.


CTI BIOPHARMA: Reports Q4 and Full Year 2015 Financial Results
--------------------------------------------------------------
CTI BioPharma Corp. reported a net loss attributable to common
shareholders of $28.83 million on $11.32 million of total revenues
for the three months ended Dec. 31, 2015, compared to a net loss
attributable to common shareholders of $44.19 million on $17.78
million of total revenues for the same period in 2014.

For the 12 months ended Dec. 31, 2015, the Company reported a net
loss attributable to common shareholders of $122.62 million on
$16.11 million of total revenues compared to a net loss
attributable to common shareholders of $95.99 million on $60.07
million of total revenues for the 12 months ended Dec. 31, 2014.

"While we were disappointed and surprised by the FDA's decision to
place pacritinib's IND on full clinical hold, our priority and
sense of purpose has always been to do what is best for patients,"
said James A. Bianco, M.D., president and chief executive officer
of CTI BioPharma.  "There remains a significant unmet medical need
in the treatment of myelofibrosis, especially for those with low
platelet counts.  We continue to see the potential of pacritinib to
help this patient population and we are committed to resolving the
FDA's concerns in order to identify a path forward. Additionally,
we plan to define the registration path for tosedostat, which
recent interim data from a cooperative group study showed the
potential therapeutic utility of this oral aminopeptidase inhibitor
for older patients with AML and high-risk MDS.  We ended the year
with a strong financial position that we believe will enable us to
achieve our goals in 2016 and beyond."

As of Dec. 31, 2015, cash and cash equivalents totaled $128.2
million, compared to $70.9 million as of Dec. 31, 2014.

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

                     http://is.gd/nRq2uY

                     About CTI BioPharma

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

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


CUBIC ENERGY: Court Confirms Prepackaged Ch. 11 Plan
----------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware on Feb. 17, 2016, issued a findings of fact,
conclusions of law, and order confirming Cubic Energy, Inc., et
al.'s Third Amended Joint Prepackaged Plan of Reorganization and
approving the Disclosure Statement explaining the Plan.

Jay S. Weinberger, a Director for Houlihan Lokey Capital, Inc.,
filed a declaration in support of confirmation of the Plan.
According to Mr. Weinberger, Houlihan Lokey concluded that the
estimated reorganization value of Cubic Asset ranges between $46
million and $76 million (with a midpoint of $61 million).  That
value, he said, is well below the approximately $96.5 million of
Prepetition Secured Notes Claims that are secured by first priority
liens on the Cubic Asset Debtors' assets.  Houlihan also concluded
that the estimated reorganization value of the Cubic Louisiana
Debtor ranges between $7 million and $10 million (with a midpoint
of $8.5 million), which, again, is well below the approximately
$29.9 million of Wells Fargo Energy Capital, Inc., claims that are
secured by first priority liens on the Cubic Louisiana Debtors'
assets.

Pursuant to the Plan, the claims of WFEC will be converted into
equity interests constituting ownership and control of Cubic
Louisiana and/or Cubic Louisiana Holding and the claims of the
Prepetition Secured Noteholders will be converted into new senior
notes and equity interests constituting ownership and control of
the other reorganized Debtors.

A full-text copy of the Second Amended Plan dated Jan. 7, 2016, is
available at http://bankrupt.com/misc/CUBICplan0107.pdf

A full-text copy of the First Amended Plan dated Jan. 5, 2016, is
available at http://bankrupt.com/misc/CUBICplan0105.pdf

A full-text copy of the Plan Exhibits -- List of Assumed Trade
Claim Payables for Cubic Asset, LLC, and List of Assumed Trade
Claim Payables for Cubic Louisiana, LLC -- is available at
http://bankrupt.com/misc/CUBICplanex0115.pdf

The Debtors are represented by Robert W. Jones, Esq., Brent R.
McIlwain, Esq., and Brian Smith, Esq., at Holland & Knight LLP, in
Dallas, Texas; and Scott D. Cousins, Esq., and Justin R. Alberto,
Esq., at Bayard, P.A., in Wilmington, Delaware.

                    About Cubic Energy

Texas-based Cubic Energy, Inc., Cubic Asset Holding, LLC, Cubic
Asset, LLC, Cubic Louisiana Holding, LLC and Cubic Louisiana, LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead Case No. 15-12500) on Dec. 11, 2015.  Jon R. Ross signed the
petition as executive vice president and corporate secretary.
Cubic Energy disclosed total assets of $120.7 million and total
debts of $114.2 million, both as of March 31, 2015.

The Debtors have engaged Bayard P.A., as Delaware counsel,
Holland & Knight LLP as restructuring counsel, Houlihan Lokey
Capital, Inc. as financial advisor and Prime Clerk LLC as noticing,
balloting and claims agent.

The Debtors disclosed $68,803,615 in total property and
$119,109,288 in total liabilities.

The U.S. Trustee for Region 3 notified the Court that no unsecured
creditors' committee has been appointed in the Chapter 11 case due
to no unsecured creditor response to the U.S. Trustee's
communication for service on the committee.

The Debtors are independent energy companies engaged in the
development and production of, and exploration for, crude oil,
natural gas and natural gas liquids.  The Debtors' oil and gas
assets are located in Texas and Louisiana.


CUBIC ENERGY: Court Overrules Objections to Plan Confirmation
-------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware overruled on the merits all objections and
reservations of rights pertaining to the confirmation of Cubic
Energy, Inc., et al.'s Third Amended Joint Prepackaged Plan of
Reorganization and approval of the Disclosure Statement explaining
the Plan.

Gloria's Ranch, L.L.C., and Andrew R. Vara, Acting U.S. Trustee for
Region 3, objected to the approval of the Plan and proposed the
solicitations protocol.

Gloria's Ranch complained that the rush to confirmation proposed by
the Debtors and others does not serve the interests of unsecured
creditors, including creditors like Gloria's Ranch, which will not
receive anything under the plan, including any right to pursue
estate causes of action from which a recovery might be obtained.
Moreover, Gloria's Ranch complained that while the Debtors' plan
contemplates that certain unsecured creditors will receive payment
on prepetition claims after the Debtors emerge from bankruptcy,
even those favored creditors are required to keep quiet in the
bankruptcy cases and provide releases in favor of non-debtor
parties in order to obtain whatever payment on prepetition debts
they may receive after the Debtors emerge from bankruptcy.  And
notwithstanding the representations of the Debtors and other plan
proponents to the contrary at the first-day hearings, a fair
interpretation of the originally proposed plan is that it clearly
intended to release the Debtors, Wells Fargo Energy Capital, and
their officers and representatives from liability to Gloria's
Ranch.

To resolve Gloria's Ranch's objection, the Confirmation Order
provides that nothing in the Plan Agreements will or will be deemed
to alter any of Gloria Ranch, L.L.C.'s rights, claims, causes of
action against any debt or liability against any person or entity
other than the Debtors, including all claims Gloria Ranch has, may
assert, or have asserted against any non-debtor entity in the case
captioned Gloria's Ranch, L.L.C., versus Tauren Exploration, Inc.,
Cubic Energy, Inc., Wells Fargo Energy Capital, Inc., and Exco USA
Asset, LLC, Case No. 541-768-A, in the First Judicial District
Court, Caddo Parish, Louisiana, or under the Final Judgment and
Judgment on Motions for New Trial entered by the Louisiana court on
November 24, 2015.

The U.S. Trustee complained that "the Plan includes numeros
provisions that attempt to re-write the Bankruptcy Code in the
treatment the Plan purports to provide to Unsecured Claims, the
allowance of claims, and the treatment of executory contracts and
unexpired leases."  The U.S. Trustee thinks the Plan is patently
not confirmable and the Disclosure Statement does not contain
adequate information, thus a combined hearing is inappropriate.

Nothing in the Confirmation Order or the Plan discharges, releases,
precludes or enjoins, among others: (i) any police or regulatory
liability to any governmental unit as defined in Section 101(27) of
the Bankruptcy Code that is not a Claim; (ii) any Claim of a
Governmental Unit arising on or after the Effective Date; or (iii)
any police or regulatory liability to a Governmental Unit on the
part of any entity as the owner or operator of property after the
Effective Date.

The Confirmation Order provides that Chieftain Exploration Company,
Inc., is not a Releasing Party.  The automatic stay is lifted
solely as to Chieftain following the Effective Date solely to
permit Chieftain to pursue appeal Cause No. 10-15-00037-CV, pending
in the Tenth Court of Appeals for the State of Texas, of case Cause
No. NOT-13-126 captioned Chieftain Exploration Company, Inc. v.
Gastar Exploration, Ltd., filed in the 12th Judicial District, Leon
County, Texas, and any further proceedings therein, with respect to
any Causes of Action that are not discharged or enjoined pursuant
to the Plan.

The Debtors pointed out that the Solicitation Procedures Order
established February 9, 2016 as the deadline to submit objections
to confirmation of the Plan or approval of the Disclosure Statement
and they did not receive any Plan confirmation objections on or
before the deadline.

The Debtors maintained that the Plan and the Plan Support Agreement
are the product of their restructuring negotiations and resulting
consensus with all material creditors.

Gloria's Ranch is represented by:

         Paul N. Heath, Esq.
         Marcos A. Ramos, Esq.
         Robert C. Maddox, Esq.
         RICHARDS, LAYTON & FINGER, P.A.
         One Rodney Square
         920 North King Street
         Wilmington, DE 19801
         Tel: (302) 651-7700
         Fax: (302) 651-7701
         Email: heath@rlf.com
                ramos@rlf.com
                maddox@rlf.com

            -- and --

         R. Joseph Naus, Esq.
         WIENER, WEISS & MADISON
         333 Texas Street, Suite 2350
         Shreveport, LA 71120
         Tel: (318) 226-9100
         Fax: (318) 424-5128
         Email: rjnaus@wwmlaw.com

The Acting U.S. Trustee is represented by:

         David L. Buchbinder, Esq.
         Trial Attorney
         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

                    About Cubic Energy

Texas-based Cubic Energy, Inc., Cubic Asset Holding, LLC, Cubic
Asset, LLC, Cubic Louisiana Holding, LLC and Cubic Louisiana, LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead Case No. 15-12500) on Dec. 11, 2015.  Jon R. Ross signed the
petition as executive vice president and corporate secretary.
Cubic Energy disclosed total assets of $120.7 million and total
debts of $114.2 million, both as of March 31, 2015.

The Debtors have engaged Bayard P.A., as Delaware counsel,
Holland & Knight LLP as restructuring counsel, Houlihan Lokey
Capital, Inc. as financial advisor and Prime Clerk LLC as noticing,
balloting and claims agent.

The Debtors disclosed $68,803,615 in total property and
$119,109,288 in total liabilities.

The U.S. Trustee for Region 3 notified the Court that no unsecured
creditors' committee has been appointed in the Chapter 11 case due
to no unsecured creditor response to the U.S. Trustee's
communication for service on the committee.

The Debtors are independent energy companies engaged in the
development and production of, and exploration for, crude oil,
natural gas and natural gas liquids.  The Debtors' oil and gas
assets are located in Texas and Louisiana.


CUBIC ENERGY: Obtains Court Authority to Assume Plan Support Deal
-----------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware authorized Cubic Energy, Inc., et al., to
assume the Plan Support Agreement with the prepetition noteholders,
BP Energy Company, Wells Fargo Energy Capital, Inc., Fossil
Operating Inc., and other parties.

The PSA was entered into after months of intense negotiations with
creditors and an exhaustive process that included input and
direction from the Debtors' experienced restructuring
professionals.

"The Plan Support Agreement is the lynchpin of the Debtors'
consensual restructuring negotiations, providing a clear path
towards reorganization and emergence from Chapter 11," says Justin
R. Alberto, Esq., at Bayard, P.A., counsel to the Debtors.  "The
unanimously supported Plan Support Agreement binds the Plan
Support Parties to implement a series of steps and transactions
necessary to restructure the Debtors' prepetition debts through
confirmation of the Chapter 11 plan, which will transfer control of
the applicable reorganized Debtors to the Prepetition Noteholders
and Wells Fargo," he adds.

"Plan Support Agreement is critical to the Debtors' success in
obtaining approval of the Chapter 11 Plan and expeditiously
emerging from chapter 11 to the benefit of the Debtors' creditors
and their estates," Mr. Alberto relates.

Pursuant to the Plan Support Agreement, the Debtors and the Plan
Support Parties have agreed to pursue the effectuation and
consummation of a financial restructuring through a "prepackaged"
plan of reorganization.

By the Plan Support Agreement, the Debtors have agreed to take or
forego certain actions to, among other things, effectuate and
consummate the Restructuring for as long as the Plan Support
Agreement has not been terminated in accordance with its
terms.

In exchange for the Debtors' promises under the Plan Support
Agreement, the Supporting Creditors have agreed to, among other
things:

   a. vote in favor of the Chapter 11 Plan, not change or withdraw
      such vote, and take other actions necessary in order to
      support the Chapter 11 Plan;

   b. consent to the Debtors' use of cash collateral pursuant to
      the Cash Collateral Orders;

   c. with respect to Wells Fargo, make a $150,000 cash payment to
      Cubic Energy prior to the Effective Date as reimbursement of
      expenses incurred by the Debtors in connection with the
      Restructuring;

   d. with respect to the Prepetition Noteholders, fund certain
      employee severance payments and payments to trade creditors
      on or after the Effective Date, and cause reorganized Cubic
      Energy and Fossil to enter into a new master services
      agreement;

   e. work with the Debtors to prepare the Plan Supplement
      Documents;

   f. with respect to BP, refrain from exercising any of its
      rights and remedies under the Hedging and Call Option and
      Operations Arrangements;

   g. with respect to the Prepetition Noteholders, refraining from
      transferring any Prepetition Interests in a manner that
      would impede reorganized Cubic Energy from qualifying for
      Section 382(l)(5) of the Internal Revenue Code or use its
      tax net operating losses on an unrestricted basis; and

   h. refrain from transferring any of their prepetition claims or

      equity interests to any person that does not join the Plan
      Support Agreement.

Similarly, Fossil has agreed to support the Chapter 11 Plan, not
cast any potential votes against the Plan, and otherwise refrain
from contesting confirmation of the Chapter 11 Plan.

The Plan Support Agreement also permits BP and WFEC to terminate
their obligations under the Plan Support Agreement upon the
occurrence of certain specified events.  Those events include,
without limitation, an uncured, material breach by the Debtors or
Prepetition Noteholders, certain unauthorized amendments of the
Plan Support Agreement, or the occurrence of one of the events.

                    About Cubic Energy

Texas-based Cubic Energy, Inc., Cubic Asset Holding, LLC, Cubic
Asset, LLC, Cubic Louisiana Holding, LLC and Cubic Louisiana, LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead Case No. 15-12500) on Dec. 11, 2015.  Jon R. Ross signed the
petition as executive vice president and corporate secretary.
Cubic Energy disclosed total assets of $120.7 million and total
debts of $114.2 million, both as of March 31, 2015.

The Debtors have engaged Bayard P.A., as Delaware counsel,
Holland & Knight LLP as restructuring counsel, Houlihan Lokey
Capital, Inc. as financial advisor and Prime Clerk LLC as noticing,
balloting and claims agent.

The Debtors disclosed $68,803,615 in total property and
$119,109,288 in total liabilities.

The U.S. Trustee for Region 3 notified the Court that no unsecured
creditors' committee has been appointed in the Chapter 11 case due
to no unsecured creditor response to the U.S. Trustee's
communication for service on the committee.

The Debtors are independent energy companies engaged in the
development and production of, and exploration for, crude oil,
natural gas and natural gas liquids.  The Debtors' oil and gas
assets are located in Texas and Louisiana.


CURTIS JAMES JACKSON: Says Plan Would Be Like Indentured Servitude
------------------------------------------------------------------
Katy Stech, writing for The Wall Street Journal, reported that
bankrupt rapper 50 Cent, whose real name is Curtis James Jackson
III, says the debt-repayment proposal up for review by a judge
would subject him to a form of modern-day indentured servitude.

According to the report, in court papers, lawyers for 50 Cent
argued the proposal would force the 40-year-old entertainer to turn
over all of the money he earns to another lawyer until his more
than $30 million in debt is paid.  The proposal doesn't require the
lawyer, Richard M. Coan of Connecticut, to let Mr. Jackson keep a
certain amount of money for basic living expenses, the Journal
said.  Mr. Jackson would get "access to food and shelter on the
whims of [Mr. Coan]," his lawyers said in documents filed Feb. 15
in U.S. Bankruptcy Court in Hartford, Conn.

"The plan violates the Thirteenth Amendment's prohibition on
involuntary servitude," the Journal cited the lawyers as saying in
a 30-page court document.  "Both Congress and the United States
Supreme Court recognize that, by requiring an individual debtor to
commit future earnings to the funding of a plan, [the bankruptcy
law could] run afoul of the constitutional prohibitions on peonage
and indentured servitude."

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


DAEBO INT'L: Court Stays Maritime Attachments Ruling Pending Appeal
-------------------------------------------------------------------
On December 15, 2015, the United States Bankruptcy Court for the
Southern District of New York issued a Memorandum Decision and a
separate Order granting the motion of the foreign representative of
Daebo International Shipping Co., Ltd., to vacate maritime
attachments made against the M/V DAEBO TRADER in Louisiana by SPV1,
LLC, and by other parties that collectively were referred to as the
"Rule B Plaintiffs."

SPV filed an appeal on January 6, 2016, and a motion for a stay
pending appeal, which the foreign representative opposes.  Another
Rule B Plaintiff also filed a motion for a stay pending appeal but
that party has not filed an appeal and its motion is moot.  SPV has
alleged that the appeal could be rendered moot in the absence of a
stay SPV, during the pendency of its appeal.

In a Decision dated February 4, 2016 which is available at
http://is.gd/iDIs2ifrom Leagle.com, U.S. Bankruptcy Judge Michael
E. Wiles in the Southern District of New York granted SPV's motion
for stay pending appeal to avoid the risk that SPV's appeal would
become moot notwithstanding the lack of merit to the Rule B
Plaintiffs' arguments.

The case is In re: DAEBO INTERNATIONAL SHIPPING CO., LTD. Chapter
15, Debtor in a Foreign Proceeding, Case No. 15-10616 (Bankr.
S.D.N.Y.).

Daebo International Shipping Co., Ltd., Foreign Representative, is
represented by Michael B. Schaedle, Esq. – Schaedle@BlankRome.com
-- Blank Rome LLP.

                About Daebo International

Based in Seoul, Korea, Daebo International Shipping Co., Ltd.,
engages in the marine cargo transport business and also acts as an
international shipping agency providing marine cargo
transportation forwarding, ship management, and combined transport
agency and trading to its customers.  The company operates bulk
carriers as its cores business.

Then operating 19 vessels, Daebo had revenue of about
$143 million in 2013 and $140 million in 2014.  Key customers
include KEPCO, Malaysia Electric Power Company, SeAH Steel Corp.
and Hanwha Chemical, for which the Company transports coal, steel
products and salt.

On Feb. 11, 2015, Daebo filed an application for commencement of
rehabilitation proceedings under the Korean Rehabilitation and
Bankruptcy Act pending before the Seoul Central District Court
(Case No. 2015 10036 Rehabilitation).

Daebo filed a Chapter 15 bankruptcy petition (Bankr. S.D.N.Y. Case
No. 15-10616) on March 16, 2015, in Manhattan, in the United
States to seek recognition of its proceedings in Korea.  The case
is assigned to Judge Michael E. Wiles.  Chang-Jung Kim, the
custodian and foreign representative, signed the petition.  Blank
Rome LLP, in Philadelphia, serves as counsel to the Debtor.


DANNY FONTANA: Iron Horse to Auction Assets on February 25
----------------------------------------------------------
Iron Horse Auction Company of Rockingham, NC has been ordered to
auction the personal assets of The Late Danny Fontana.  This
includes Mr. Fontana's personal wine collection, art collection and
furnishings.

The auction is currently running online at
ironhorseauction.com/Fontana and will begin closing February 25 at
6:00 p.m.

Iron Horse Auction Company, Inc. and its principals are recognized
on an international level for their luxury and specialty auctions.
Will Lilly of Iron Horse states, "It is an honor to bring these
distinct art and wine collections to market.  This is a rare
opportunity to purchase the work of Bill Mack, Erte and Icart at
such reasonable prices."

For further information or see the current bids, go to
http://www.ironhorseauction.com/fontanaor call: 800-997-2248.


DAVID ZACHARY: Order Sustaining Bank's Plan Objection Affirmed
--------------------------------------------------------------
This case presents an arcane but important question of first
impression in this Circuit: Does the absolute priority rule
continue to apply in individual chapter 11 reorganizations after
the amendments to the Bankruptcy Code enacted as part of the
Bankruptcy Abuse Prevention and Consumer Protection Act of 2005
("BAPCPA")?

In an Opinion dated January 28, 2016, which is available at
http://is.gd/0qrwpTfrom Leagle.com, the United States Court of
Appeals for the Ninth Circuit concluded that the BAPCPA amendments
do not impliedly repeal the long-standing absolute priority rule.

Accordingly, the Ninth Circuit affirms the order of the bankruptcy
court sustaining California Bank's objection to Debtors David K.
Zachary and Annmarie S. Snorsky's plan.

The case is DAVID K. ZACHARY; ANNMARIE S. SNORSKY,
Debtors-Appellants, v. CALIFORNIA BANK & TRUST,
Respondent-Appellee, No. 13-16402 (9th Cir.).

Gregg W. Koechlein, Esq., Reno, Nevada, for Debtors-Appellants.

Matthew D. Murphey, Esq. -- matthew.murphey@troutmansanders.com --
Troutman Sanders LLP, Penelope Parmes, Esq. --
penelope.parmes@troutmansanders.com -- Troutman Sanders LLP, Martin
W. Taylor,Esq. -- martin.taylor@troutmansanders.com -- Troutman
Sanders LLP, Meghan Canty Sherrill, Esq. --
meghan.sherrill@troutmansanders.com -- Troutman Sanders LLP,
Irvine, California, for Respondent-Appellee.


DOLAN COMPANY: Dismissal of "Rand-Heart" Suit Reversed in Part
--------------------------------------------------------------
The United States Court of Appeals for the Eighth Circuit affirmed
in part and reversed in part the ruling of the district court
dismissing the putative class action that was brought by Rand-Heart
of New York, Inc, on behalf of purchasers of Dolan Company's
securities between August 1, 2013 and January 2, 2014.

In the class action suit, Rand-Heart alleged that Dolan made
material misrepresentations and omission's about the financial
stability of its subsidiary, DiscoverReady.  The district court
granted Dolan's motion to dismiss, finding that Rand-Heart failed
to allege scienter under section 10(b) and Rule 10b-5, thereby
precluding secondary liability under the control-person theory of
section 20(a).  The district court also held that Rand-Heart failed
to establish loss-causation for the period between November 12,
2013 and January 2, 2014.

The Eighth Circuit held that the district court erred in dismissing
the section 10(b) and Rule 10b-5 claim for failure to state a
claim, and thus also erred in dismissing secondary liability claim
under section 20(a).  The Eighth Circuit found that Dolan's August
1 statements are not protected by the Securities Exchange Act's
safe-harbor provision because, even if the statements were
"forward-looking," they were not meaningfully cautionary.  The
Eighth Circuit further found that the complaint also sufficiently
alleged that Dolan had actual knowledge that the statements were,
at least, misleading.

The Eighth Circuit, however, found that the district court did not
err in finding no loss-causation for the period between November 21
and January 12.

The case is Rand-Heart of New York, Inc.; Michael Rodolico; Ian
Henderson; Antonino Floridia; Matthew Dudevoir; David Hall; Tammy
Hall, individually and on behalf of all others similarly situated,
Plaintiffs-Appellants, v. James P. Dolan; Vicki J. Duncomb,
Defendants-Appellees, No. 15-1838 (8th Cir.).

A full-text copy of the Eight Circuit's February 10, 2016 opinion
is available at http://is.gd/1QNeBpfrom Leagle.com.

                    About the Dolan Company

Minneapolis, Minn.-based The Dolan Company (OTC:DOLN) and its
subsidiaries provide professional services and business
information to the legal, financial and real estate sectors.

The Dolan Company and several affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Case Nos. 14-10614 to
14-10637) on March 23, 2014.  The Company has said it expects to
emerge from bankruptcy within two months.

Judge Brendan L. Shannon oversees the cases.  Marc Kieselstein,
P.C., Jeffrey D. Pawlitz, Esq., and Joseph M. Graham, Esq., at
Kirkland & Ellis LLP, serve as the Debtors' counsel.  Timothy P.
Cairns, Esq., Laura Davis Jones, Esq., and Michael Seidl, Esq., at
Pachulski Stang Ziehl & Jones LLP, serve as local counsel.

Kevin Nystrom serves as the Company's chief restructuring officer.

Faegre Baker Daniels LLP serves as the Debtors' special counsel;
Peter J. Solomon Company serves as financial advisors; and
Kurtzman Carson Consultants, LLC, serves s noticing and balloting
agent.
Deloitte Tax LLP serves as tax advisors.  Zolfo Cooper LLC also
serves as advisors.

Dolan listed $236.2 million in total assets and $185.9 million in
total debts at Sept. 30, 2013.  The petitions were signed by Vicki
J. Duncomb, authorized signatory.

Global investment management firm T. Rowe Price Associates, Inc.,
owns nearly 10% of the company's stock, while James Dolan owns
6.8%.

Dolan's e-discovery business, DiscoverReady LLC, did not file a
chapter 11 petition and its operations will not be affected by the
chapter 11 process.

On March 18, 2014, Dolan and its lenders and certain of its swap
counterparties executed a restructuring support agreement that
sets
forth the material terms of the chapter 11 restructuring and
secures the support of the secured creditors for that process. In
accordance with the RSA, the Company commenced solicitation for
votes on the chapter 11 plan from secured creditors, the only
parties entitled to vote under the plan of reorganization.

The chapter 11 plan contemplates that the secured lenders will
become the owner of DiscoverReady and The Dolan Company upon the
completion of the restructuring process and each business will be
operated as separate and distinct entities.  Investment funds
managed by Bayside Capital, Inc. will become the majority owner of
DiscoverReady and The Dolan Company.  Bayside Capital is an
affiliate of H.I.G. Capital, a global private investment firm with
more than $15 billion of equity capital under management.

The chapter 11 plan process will allow the filing subsidiaries of
the Company to deleverage its capital structure by reducing its
projected secured debt obligations from approximately $170 million
to approximately $50 million.  The RSA also secures support from
the lenders to refinance DiscoverReady's capital structure with a
$10 million unfunded secured revolving facility.  The existing
preferred and common shares will be cancelled and will not receive
a recovery in the chapter 11 plan.  After emergence from
bankruptcy, both The Dolan Company and DiscoverReady LLC will be
privately held companies.

The lenders are to provide a $10 million DIP loan to fund the cash
needs of the Company and DiscoverReady through the reorganization
process.

Bayside Capital is represented in the case by Akin Gump Strauss
Hauer & Feld LLP's Michael S. Stamer, Esq., and Sarah Link
Schultz, Esq.

An Official Committee of Equity Security Holders is represented by
Neil B. Glassman, Esq., GianClaudio Finizio, Esq., and Justin R.
Alberto, Esq., at Bayard, P.A., in Wilmington, Delaware; Robert J.
Stark, Esq., at Brown Rudnick LLP, in New York; and Steven B.
Levine, Esq., at Brown Rudnick LLP, in Boston, Massachusetts.

The Debtors have filed a request to disband the Equity Committee,
given the "hopeless insolvency" of their estates.

Dolan Company and its subsidiaries on June 12 disclosed that they
have emerged from chapter 11 only 81 days after voluntarily filing
for bankruptcy protection.  As previously announced, the United
States Bankruptcy Court for the District of Delaware confirmed the
Company's plan of reorganization on June 9, 2014.


DRAFTDAY FANTASY: Delays Filing of Dec. 31 Form 10-Q
----------------------------------------------------
DraftDay Fantasy Sports, Inc. filed with the U.S. Securities and
Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
Dec. 31, 2015.  

On Dec. 14, 2015, the Company entered into an agreement to sell its
rewards business to Perk.com, Inc.  The Perk Transaction was
completed on Feb. 8, 2016.  As a consequence, the Company's
financial statements now need to reflect lines of business, and the
additional days are needed to complete the work, according to the
regulatory filing.

                         About DraftDay

DraftDay Fantasy Sports Inc., formerly known as Viggle Inc., offers
a high quality daily fantasy sports experience directly to
consumers and to businesses desiring turnkey solutions to new
revenue streams.  DraftDay Fantasy Sports Inc. is the largest
shareholder of DraftDay Gaming Group, with a 44% stake.  Sportech
owns 35%.  By combining and capitalizing on the well-established
operational business assets of DraftDay and Sportech, the new
DraftDay is well-positioned to become a significant player in the
explosive fantasy sports market.  DraftDay has paid out over $30
million in prizes with increased player retention and brand
loyalty.  DraftDay Fantasy Sports also operates MyGuy and Viggle
Football both of which offer real-time interactive participation
with professional and college football games; Wetpaint, which
offers entertainment and celebrity news; and Choose Digital, a
digital marketplace platform that allows companies to incorporate
digital content into existing rewards and loyalty programs in
support of marketing and sales initiatives.

Viggle reported a net loss attributable to common stockholders of
$78.9 million on $25.5 million of revenue for the year ended
June 30, 2015, compared to a net loss attributable to common
stockholders of $68.1 million on $18.0 million of revenues for the
year ended June 30, 2014.

As of Sept. 30, 2015, the Company had $74.0 million in total
assets, $59.8 million in total liabilities, $12.04 million in
series C convertible preferred stock and $2.10 million in total
stockholders' equity.

BDO USA, LLP, in New York, issued a "going concern" qualification
on the consolidated financial statements for the year ended
June 30, 2015, citing that the Company has suffered recurring
losses from operations and at June 30, 2015, has a deficiency in
working capital that raise substantial doubt about its ability to
continue as a going concern.


DRD TECHNOLOGIES: Alabama Judge Confirms Liquidating Plan
---------------------------------------------------------
DRD Technologies, Inc., has received approval from the Bankruptcy
Court of a Chapter 11 plan that provides for a disbursing agent to
liquidate all property of the Debtor not sold or liquidated before
the Plan's effective date.

The Debtor is liquidating all property of the estate to satisfy
allowed claims.  The Debtor is of the opinion that the sale of the
NExFIELD Technology is likely to result in proceeds sufficient to
pay all Allowed Claims, whether scheduled or unscheduled, and
return proceeds to equity interests.  In the event the NExFIELD
Technology sale does not result in sufficient proceeds to satisfy
all allowed claims, other property of the estate, including
accounts receivable and/or inventory may be sold.

On Dec. 11, 2015, the Debtor won approval of bidding procedures for
the sale of substantially all assets.  The Debtor was authorized to
conduct an auction Jan. 29, 2016.

The Plan treats claims and interests as follows:

   * Class 1 – Allowed Secured Claims of ServisFirst Bank.  The
Bank asserts a claim asserts a claim against the Debtor in the
approximate amount of $3,500,000, plus interest and attorney's
fees.  This claim is secured by all inventory, accounts, equipment,
general intangibles and security interest.  It will be paid with
proceeds from the proposed sale of the Debtor's assets, with each
such claim only being paid from their respective collateral.

   * Class 2 – Allowed Unsecured Claims of Blue Ridge Capital.
Blue Ridge Financial, LLC asserts a claim against the Debtor in the
approximate amount of $50,000.  This claim is secured by business
assets and security interest.  It will be paid with proceeds from
the proposed sale of the Debtor's assets, with each such claim only
being paid from their respective collateral.

   * Class 3 - Allowed Claim of Channel Partners Capital.  Channel
Partners Capital, LLC asserts a claim against the Debtor in the
approximate amount of $50,000.  This claim is secured by business
assets and security interest.  It will be paid with proceeds from
the proposed sale of the Debtor's assets, with each such claim only
being paid from their respective collateral.

   * Class 4 – Unsecured Claims.  The allowed claims of all other
unsecured creditors will be paid profits from the proceeds of
purported sale or sales of the Debtor's assets.

   * Class 5 – Debtor's Interests.  Interest holders will be paid
from any proceeds from the sale of the Property after all other
classes are paid in full.

A copy of the First Amended Disclosure Statement filed Dec. 8,
2015, is available for free at:

     http://bankrupt.com/misc/DRD_Tech_183_Am_DS.pdf

                      About DRD Technologies

DRD Technologies, Inc., based in Huntsville, Alabama, operates a
logistics and technology development sales and service business.
The business was founded 1993.  Its most valuable asset is a
patented off grid communication product, "NExFIELD" which is being
actively marketed to government agencies.  The Company's shares are
owned 100% by David R. Dobbs.  It has 7 employees, and had 2014
gross revenues of $4,500,000.

DRD Technologies sought Chapter 11 protection (Bankr. N.D. Ala.
Case No. 15-81366) on May 19, 2015, to halt efforts by creditor
ServisFirst Bank to appoint a receiver.

The Debtor disclosed $205,849,965 in assets and $4,289,268 in
liabilities as of the Chapter 11 filing.

The Debtor tapped Stuart M. Maples, Esq., at Maples Law Firm, PC,
as counsel.  The Debtor also engaged Riparian Partners, LLC as
financial advisors in the proposed sale of assets and Huntsville
Integrated Technology, LLC, as business consultants regarding
marketing aspects of the sale of NExFIELD.

No creditor's committee was formed in the case.


DRD TECHNOLOGIES: Resolves IRS Confirmation Objection
-----------------------------------------------------
Judge Clifton R. Jessup, Jr., in early February 2016 confirmed DRD
Technologies, Inc.'s Chapter 11 plan after a lone objector withdrew
its challenge to the Plan.

The Debtor filed its sale-based Chapter 11 Plan and Disclosure
Statement on Nov. 2, 2015.  On Dec. 8, the Debtor filed an Amended
Disclosure Statement.

The Court on Dec. 9 approved the Amended Disclosure Statement and
set a Jan. 19, 2016 objection and voting deadline; and a Jan. 20
hearing to consider confirmation of the Plan.

All classes accepted the Plan, according to DRD's summary of
ballots.

One objection was filed by the Internal Revenue Service which the
Debtor has addressed with the filing of the June 30, 2015, Form 941
Tax Return.

The IRS, which asserts a $10,661 claim, said the Plan cannot be
confirmed because it fails to adequately provide for the payment of
the unsecured priority claim of the IRS.

The objection was withdrawn in open court subject to inclusion of
this agreed-upon language in the Plan:

      The claim for prepetition tax debt filed by the IRS on
January 29, 2016 in the sum of $10,774 will be allowed as filed.

      The tax and interest for the tax periods listed on the claim
will be treated and paid as an unsecured priority debt.  The tax
and interest in the sum of $10,774.15 shall be amortized over a
period of five years at the Internal Revenue Code interest rate of
3.00%.  This amount will be paid in 60 months by the Debtor
remitting to the IRS equal monthly payments in the sum of $193.60.
The first monthly installment will be due on or before March 1,
2016 and subsequent installments will be due on the 1st day of each
month thereafter until said debt has been paid in full.

     The postpetition tax debt for the Form 941 tax periods ended
June 30, 2015 and Sept. 30, 2015 in the approximate sum of $29,386
will be paid in full including applicable interest and penalty on
or before March 31, 2016.

     In the event the Debtor fails to remit any monthly payment on
the IRS unsecured priority claim as each payment becomes due or pay
in full the postpetition tax debt for the From 941 tax periods
ended June 30, 2015 and Sept. 30, 2015 by March 31, 2016, the
automatic stay will be considered terminated and the IRS may
proceed with its legal and/or administrative remedies to collect
any and all sums due for the prepetition and postpetition tax debt
owed to the IRS.

     The Debtor shall timely file any and all postpetition federal
Form 941 tax returns beginning with the Form 941 for the tax period
ended Dec. 31, 2015 and the Form 940 tax return for the tax period
ended December 31, 2015 by the due date for each respective tax
period.  Upon the filing of the applicable Form 941 and Form 940
tax returns beginning with the Form 941 for the tax period ended
Dec. 31, 2015 and the Form 940 tax return for the tax period ended
Dec. 31, 2015 to the extent there is a balance due the IRS, the
Debtor will remit the balance due at the time the return is filed
with the IRS.

     During the pendency of the repayment period for the
pre-petition tax debt owed to the IRS, in the event the Debtor
fails to timely file any and all postpetition federal Form 941 tax
returns beginning with the Form 941 for the tax period ended Dec.
31, 2015 and the Form 940 tax return beginning with the tax period
Dec. 31, 2015 and remit any balance due the IRS; the automatic stay
will be considered terminated and the IRS may proceed with its
legal and/or administrative remedies to collect any and all sums
due on the pre-petition tax liability and any postpetition
liability.

     For the tax periods listed on the claim filed by the IRS, the
time periods found at 26 U.S.C. Sec. 6503(b) and 6503(h) are tolled
during the term for repayment stated in this plan.

     The IRS tax debt for the tax periods listed on the amended IRS
claim will not be the subject of any discharge entered in this case
until the Debtor has complied with the terms of the repayment of
the terms of the secured, unsecured priority and general unsecured
debt of the IRS debt.

     For the tax periods listed on the claim filed by the IRS, the
time periods found at 11 U.S.C. Sec. 507(a)(8) are tolled during
the term for repayment stated in this plan.

     The IRS reserves the right to adjust the amount of its claim
if it is determined through the IRS administrative process that the
amounts due on any tax period listed on the IRS claim are due to be
adjusted.

The judge entered a confirmation order Feb. 3, 2016, after ruling
that the Plan complies with all applicable provisions of the
Bankruptcy Code.

A copy of the Plan confirmation order is available for free at:

   http://bankrupt.com/misc/DRD_Tech_223_Plan_Conf_Order.pdf

The IRS is represented by:

         JOYCE WHITE VANCE
         United States Attorney
         RICHARD E. O'NEAL
         Assistant United States Attorney
         1801 4th Avenue North
         Birmingham, AL 35203
         Tel: (205) 244-2120

The Debtor's counsel:

         Stuart M. Maples
         MAPLES LAW FIRM, PC
         200 Clinton Ave. West, Suite 1000
         Huntsville, AL 35801
         Tel: (256) 489-9779
         Fax: (256) 489-9720
         E-mail: smaples@mapleslawfirmpc.com

                      About DRD Technologies

DRD Technologies, Inc., based in Huntsville, Alabama, operates a
logistics and technology development sales and service business.
The business was founded 1993.  Its most valuable asset is a
patented off grid communication product, "NExFIELD" which is being
actively marketed to government agencies.  The Company's shares are
owned 100% by David R. Dobbs.  It has 7 employees, and had 2014
gross revenues of $4,500,000.

DRD Technologies sought Chapter 11 protection (Bankr. N.D. Ala.
Case No. 15-81366) on May 19, 2015, to halt efforts by creditor
ServisFirst Bank to appoint a receiver.

The Debtor disclosed $205,849,965 in assets and $4,289,268 in
liabilities as of the Chapter 11 filing.

The Debtor tapped Stuart M. Maples, Esq., at Maples Law Firm, PC,
as counsel.  The Debtor also engaged Riparian Partners, LLC as
financial advisors in the proposed sale of assets and Huntsville
Integrated Technology, LLC, as business consultants regarding
marketing aspects of the sale of NExFIELD.

No creditor's committee was formed in the case.


ENERGY FUTURE: Noteholders Lose Appeal Over Make-Whole Premium
--------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that Energy Future
Holdings' senior noteholders lost an appeal on Feb. 16, 2016, in
Delaware federal court over whether the bankrupt utility owes
lenders a sizeable make-whole premium after refinancing $4 billion
in secured notes, the latest setback for bondholders in the ongoing
dispute.  U.S. District Judge Richard Andrews said that a
bankruptcy stay that went into effect when EFH filed for Chapter 11
in 2014 essentially blocked the noteholders' claim for a make-whole
premium or subsequent damages.

                       About Energy Future

Energy Future Holdings Corp., formerly known as TXU Corp., is a
privately held diversified energy holding company with a Portfolio
of competitive and regulated energy businesses in Texas.

Oncor, an 80 percent-owned entity within the EFH group, is the
largest regulated transmission and distribution utility in Texas.

The Company delivers electricity to roughly three million delivery
points in and around Dallas-Fort Worth.  EFH Corp. was created in
October 2007 in a $45 billion leverage buyout of Texas power
company TXU in a deal led by private-equity companies Kohlberg
Kravis Roberts & Co. and TPG Inc.

On April 29, 2014, Energy Future Holdings and 70 affiliated
companies sought Chapter 11 bankruptcy protection (Bankr. D. Del.
Lead Case No. 14-10979) after reaching a deal with some key
financial stakeholders to keep its businesses operating while
reducing its roughly $40 billion in debt.

The Debtors' cases have been assigned to Judge Christopher S.
Sontchi (CSS).  The Debtors are seeking to have their cases
Jointly administered for procedural purposes.

As of Dec. 31, 2013, EFH Corp. reported assets of $36.4 billion in
book value and liabilities of $49.7 billion.  The Debtors have $42
billion of funded indebtedness.

EFH's legal advisor for the Chapter 11 proceedings is Kirkland &
Ellis LLP, its financial advisor is Evercore Partners and its
restructuring advisor is Alvarez & Marsal.  The TCEH first lien
lenders supporting the restructuring agreement are represented by
Paul, Weiss, Rifkind, Wharton & Garrison, LLP as legal advisor,
and Millstein & Co., LLC, as financial advisor.

The EFIH unsecured creditors supporting the restructuring
Agreement are represented by Akin Gump Strauss Hauer & Feld LLP,
as
legal advisor, and Centerview Partners, as financial advisor.  The
EFH equity holders supporting the restructuring agreement are
represented by Wachtell, Lipton, Rosen & Katz, as legal advisor,
and Blackstone Advisory Partners LP, as financial advisor.  Epiq
Systems is the claims agent.

Wilmington Savings Fund Society, FSB, the successor trustee for
the second-lien noteholders owed about $1.6 billion, is
represented by Ashby & Geddes, P.A.'s William P. Bowden, Esq., and
Gregory A.
Taylor, Esq., and Brown Rudnick LLP's Edward S. Weisfelner, Esq.,
Jeffrey L. Jonas, Esq., Andrew P. Strehle, Esq., Jeremy B. Coffey,
Esq., and Howard L. Siegel, Esq.

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee represents the interests of the unsecured
creditors of ONLY of Energy Future Competitive Holdings Company
LLC; EFCH's direct subsidiary, Texas Competitive Electric Holdings
Company LLC; and EFH Corporate Services Company, and of no other
debtors.  The Committee has selected Morrison & Foerster LLP and
Polsinelli PC for representation in this high-profile energy
restructuring.  The lawyers working on the case are James M. Peck,
Esq., Brett H. Miller, Esq., and Lorenzo Marinuzzi, Esq., at
Morrison & Foerster LLP; and Christopher A. Ward, Esq., Justin K.
Edelson, Esq., Shanti M. Katona, Esq., and Edward Fox, Esq., at
Polsinelli PC.


FEDERAL RESOURCES: DJP's Duane Gillman Named Ch. 11 Trustee
-----------------------------------------------------------
The U.S. Trustee appointed Duane H. Gillman to serve as the chapter
11 trustee of Federal Resources Corporation and Camp Bird Colorado,
Inc.

Judge Kevin R. Anderson on Feb. 3, 2016, approved the appointment
of Mr. Gillman as Chapter 11 Trustee.

The Chapter 11 Trustee can be reached at:

         Duane H. Gillman
         DURHAM JONES & PINEGAR
         111 East Broadway, Suite 900,
         P.O. Box 4050
         Salt Lake City, UT 84110
         E-mail: dgillman@djplaw.com

Mr. Gillman joined Durham Jones & Pinegar in October 2005 and has
practiced in the areas of business and personal reorganization,
bankruptcy litigation, creditors' rights, and trustee and receiver
representation for twenty-five years.  Mr. Gillman has distributed
over $80 million to creditors and other parties in interest as a
trustee in Chapter 7, Chapter 11 and Chapter 12 cases.  He has
represented the prevailing party in over 60 published opinions. He
maintains an "AV" rating with Martindale-Hubbell, which is the
highest rating awarded to attorneys for professional competence and
ethics.


According to a Feb. 3 filing by the U.S. Trustee, the chapter 11
trustee bond is initially set at $50,000.00. The bond may require
adjustment as the trustee collects and liquidates assets of the
estate, and the trustee is directed to inform the Office of the
United States Trustee when changes to the bond amount are required
or made.

The Court on Jan. 28 granted an emergency motion by Caldera Mineral
Resources, LLC, one of the largest creditors of FRC, for the
immediate appointment of a Ch. 11 trustee due to alleged gross
mismanagement and fraud by the principal of the Debtors.  It
accused the company's principal of accepting money from a drug
dealer and allowing a marijuana plantation at its Camp Bird
property in Ouray, Colorado.

                      About Federal Resources

Federal Resources Corporation is a Nevada Corporation that was
formed in 1960 as a result of a merger between Radorock Resources,
Inc., and Federal Uranium Corporation.  Federal currently has only
two assets: (1) 100% of the stock of Camp Bird, a Colorado
corporation and (2) 100% interest in a Madawaska Mines Limited, a
Canadian corporation doing business in Ontario Canada.

Camp Bird Colorado, Inc.'s principal assets consist of patented
gold mining claims and related land located in Ouray, Colorado.
Camp Bird also is the sole owner of Camp Bird Tunnel, Mining and
Transportation Company ("CTMT"), which owns various water and
tunnel rights used and associated with the Camp Bird properties.

Madawaska Mines owns a 5l% interest in a joint venture, which holds
the Madawaska Mine near Bancroft, Ontario.

Scott A. Butters is the President and CEO.  Bentley J. Blum is the
controlling shareholder of FRC.

Federal Resources Corporation, along with subsidiary Camp Bird
Colorado, sought Chapter 11 bankruptcy protection (Bankr. D. Utah
Case No. 14-33427 and 14-33428) in Salt Lake City on Dec. 29, 2014,
with plans to sell subsidiary Camp Bird's gold mine in Ouray,
Colorado to pay off creditors.  The petitions were signed by Scott
A. Butters, president and director.

The Debtors are represented by David E. Leta, Esq., at Snell &
Wilmer, in Salt Lake City.

Federal and Camp Bird each estimated $10 million to $50 million in
asset and debt.

The Chapter 11 cases and any associated open adversary proceedings
are assigned to Judge Kevin R. Anderson.

                           *     *     *

On March 27, 2015, the Debtors filed their joint plan of
liquidation and accompanying disclosure statement.  The Plan
contemplates the establishment of a liquidating trust and the
appointment of an independent liquidating agent to sell the
Debtors' assets.

In November 2015, the Debtors won approval for bid procedures for
Sale of Camp Bird Colorado's mining equipment.  Richard Ciardo, the
stalking horse bidder, purchased the equipment for $87,000.

On Nov. 6, 2015, the Court entered an order extending the exclusive
time period within which the Debtors may solicit acceptances to
their Plan pursuant to 11 U.S.C. Sec. 1121(d) up to and including
Feb. 29, 2016.

On Jan. 28, 2016, the bankruptcy judge entered an order granting
Caldera's motion for the immediate appointment of a Chapter 11
trustee in the Debtors' Chapter 11 cases.


FEDERAL RESOURCES: Execs. Ousted Over Secret Marijuana Plantation
-----------------------------------------------------------------
Caldera Mineral Resources, LLC, one of the largest creditors of
Federal Resources Corporation, succeeded in its bid to oust
management of FRC after accusing the company's principal of
accepting money from a drug dealer and allowing a marijuana
plantation at its Camp Bird Mine property in Ouray, Colorado.

Caldera Mineral Resources, LLC and Caldera Holdings, LLC, filed
with the U.S. Bankruptcy Court for the District of Utah, Central
Division, on Dec. 17, 2015, an emergency motion for the appointment
a Chapter 11 trustee.  Caldera said the Debtors have engaged in the
following wrongful conduct and gross mismanagement which require
the immediate appointment of a trustee:

   (a) The Debtors concealed from this Court that they entered into
a written lease with a convicted drug dealer for the purpose of
growing marijuana on the Camp Bird Mine property, mischaracterized
the lease in its Disclosure Statement as being a "Water Lease", and
never obtained approval of the lease or March 2015 amendment
thereto;

   (b) The Debtors concealed that their principal, Bentley Blum,
personally accepted money from the drug dealer at the time CBCI
entered into the lease amendment;

   (c) CBCI appointed the drug dealer as its authorized agent to
apply for a marijuana permit on its behalf;

   (d) The Debtors permitted a theft of Caldera's equipment from
the Camp Bird Mine property and damage to the equipment and the
property which appear to have been perpetrated by the drug dealer;
and

   (e) The Debtors' motion to sell personal property was designed
so that their stalking horse bidder, the drug dealer, would acquire
the equipment at below market prices, presumably to finance the
illegal marijuana business.

According to Caldera, Richard Ciardo is a convicted drug dealer who
was sentenced to four concurrent prison terms of 235 months (19.5
years) in 1994 for conspiring to possess and import into the United
States a total of 14 kilograms of cocaine.  

On Dec. 28, 2014, the day before the cases were filed, the Debtors
entered into a written "Lease and Option to Purchase Agreement"
with Richard Ciardo (the "December 2014 Lease").  While the
December 2014 Lease is silent on the issue of marijuana
cultivation, subsequent communications leave absolutely no doubt as
to its purpose, Caldera said.

In early March 2015, Mr. Ciardo requested an amendment to the
December 2014 Lease wherein, among other things, the Debtors would
acknowledge that the property was going to be used for marijuana
cultivation.  Caldera noted that on March 27, 2015, the Debtors
filed a Disclosure Statement which falsely characterized the
December 2014 Lease as being a "Water Lease."  On Nov. 27, 2015,
the Debtors entered into a new written "Lease and Option to
Purchase Agreement", which provides that Mr. Ciardo may lease 28
acres and water rights for $5,000 per month and may sublease the
leased property (a deal Caldera says was commercially unreasonable
given the purported $5 million purchase price).  On Nov. 29, 2015,
the President of CBCI, Scott A. Butters, signed an agent
authorization form appointing Mr. Ciardo as CBCI's authorized agent
for purposes of the marijuana permit.  CBCI failed to disclose to
the Bankruptcy Court that it appointed Mr. Ciardo and Mr. Dodd as
its agents to obtain a marijuana cultivation license on CBCI's
behalf.

"Given the Debtors' concealment of their true relationship with Mr.
Ciardo and his cannabis business plan for the Camp Bird property,
their failure to obtain approvals from the Bankruptcy Court for
outside the ordinary course transactions, the undisclosed
relationship between Mr. Ciardo and Mr. Blum, the damage to and
theft of property under the Debtors' control, violations of federal
law, and gross mismanagement of the estates, a trustee must be
appointed," Caldera said in court filings.

The United States, also a creditor in the case, supported Caldera's
motion.  The U.S. submitted documents from litigation filed in the
United States District Court for the District of Idaho (the "Idaho
Court"), captioned as United States v. Federal Resources
Corporation et al., No. 2:11-cv-127 (D. Idaho), providing that:

   * In that case the Idaho Court, based on the -- largely
unchallenged -- factual record before it, concluded that Mr. Blum
had managed the affairs of Debtors in a manner that resulted in (1)
the fraudulent transfer of FRC's sole asset of value (the ownership
of CBCI); and (2) a ruling that Mr. Blum and CBCI were both the
alter egos of FRC.

   * In the time since judgment was issued by the Idaho Court, Mr.
Blum has disregarded his legal obligations in that judicial
proceeding.  This conduct resulted in the issuance of three orders
to compel appropriate discovery requests and one order to compel
compliance with a prior Court Order.

   * Mr. Blum, with the apparent assistance of Mr. Butters, managed
the affairs of Debtors in such a manner such that Mr. Blum and CBCI
were held to be the alter egos of FRC

According to the U.S., findings by the Idaho Court with respect to
Current Management's actions in that litigation readily translate
to findings of fraud, dishonesty, incompetence, and/or gross
mismanagement under subsection 1104(a)(1).

                      Conviction 20 Years Ago

In a response filed Jan. 11, 2016, the Debtors asked the Court to
deny approval of the Motion, citing that the Movants have utterly
failed to establish any colorable claim of fraud.

"The Motion is replete with name calling, conclusory assertions and
speculation.  For example, throughout the Motion, instead of using
Mr. Ciardo's name, Movants repeatedly disparage him by referring to
him as the "drug dealer."  They also frequently use the term "gang"
in reference to individuals that allegedly accompanied Mr. Ciardo
to the Camp Bird Mine.  The Movants' refer to agreements as if the
documents are effective, when those documents clearly and expressly
state that they are subject to prior bankruptcy court approval
after appropriate notice.  Name calling, speculation and inaccurate
assumptions are not evidence, but such techniques are often used to
hide a weak or specious claim.  The Motion clearly is a smoke
screen to hide the Movants' own wrongdoing," the Debtors said in
court filings.

"In truth, no party has done more harm to the Debtors than the
Movants.  The Movants breached the terms of the lease and option
agreement and a stipulation that they signed in connection with an
Idaho federal court action.  They made representations to a federal
court that they either knew were false at the time, or never
intended to perform.  This breach resulted in damages to the
Debtors of no less than $6,500,000, and it also directly resulted
in the need for the Debtors to seek bankruptcy protection.  The
Movants are not virtuous creditors trying to correct an injustice,
but wrongdoers who are trying to divert the Court's attention away
from their own misdeeds."

According to FRC, Caldera ignores the fact that Mr. Ciardo's
conviction occurred more than 20 years ago.  Instead, they want to
continue to punish Mr. Ciardo for this conviction by using it to
deny him the right to freely enter into contracts and to conduct
business.  According to the Debtors, attempted use of Mr. Ciardo's
prior conviction on a drug related offense as evidence of current
misconduct is inadmissible improper character evidence and should
be excluded by the Court.

FRC also claimed that it did not hide anything from the Court.  It
explained that Mr. Ciardo never commenced making payments under the
Water Lease Amendment, so the Debtors never presented the Water
Lease Amendment to the Court for approval.  FRC said that if it had
sought approval of the Water Lease Amendment, they intended to
disclose the intended use of the water for the cultivation of
cannabis.

As to claims that Mr. Ciardo caused damage to the Camp Bird Mine
and stole some of the Equipment, the Debtors said the Movants have
no evidence that Mr. Ciardo actually stole any equipment or that he
actually damaged the Camp Bird Mine site.

                       Debtors Make About-Face

On Jan. 26, 2016, the Debtors filed documents saying that they are
withdrawing their opposition to the appointment of a trustee.

"Despite the Debtors diligent and good faith efforts to manage the
estates to bring value to creditors, the disapproval of various
disputed creditors to the direction of these bankruptcy cases leads
the Debtors to now file this Withdrawal.  As they always
have been, the Debtors remain committed to acting in the best
interests of the creditors of their estates," FRC said.

"It still is the belief of the Debtors that the appointment of a
Trustee is counterproductive with respect to the complicated nature
of the disputed claims and the pending appeal of the Idaho
Judgment.  To the Debtors, it appears that these creditors with
disputed claims think that they will obtain more favorable outcomes
on the resolution of their disputes if a trustee is appointed.  The
Debtors, however, will not oppose the immediate appointment of a
Chapter 11 trustee in these cases."

The Court on Jan. 28, 2016, entered an order directing the U.S.
Trustee to appoint a Chapter 11 trustee.

A full-text copy of Caldera's motion for appointment of a Chapter
11 trustee is available for free at:

  http://bankrupt.com/misc/FRC_262_Caldera_M_Trustee.pdf

A full-text copy of the Debtors' objection to the motion for a
Chapter 11 trustee is avaIlable for free at:

  http://bankrupt.com/misc/FRC_287_Obj_Trustee.pdf

A copy of Debtors' notice of withdrawal of the objection:

   http://bankrupt.com/misc/FRC_303_Trustee_Obj_Withdrawn.pdf

Counsel for Caldera Mineral Resources and Caldera Holdings:

         Martin J. Brill, Esq.
         Krikor J. Meshefejian, Esq.
         LEVENE, NEALE, BENDER, YOO & BRILL, L.L.P.
         10250 Constellation Blvd., Suite 1700
         Los Angeles, CA 90067
         Telephone: (310) 229-1234
         Facsimile: (310) 229-1244
         E-mail: mjb@lnbyb.com

Attorneys for Federal Resources Corporation and Camp Bird Colorado,
Inc.:

         David E. Leta, Esq.
         Troy J. Aramburu, Esq.
         Jeff D. Tuttle, Esq.
         SNELL & WILMER L.L.P.
         15 W South Temple, Suite 1200
         Salt Lake City, UT 84101
         Telephone: 801.257.1900
         Facsimile: 801.257.1800
         E-mail: dleta@swlaw.com
                 ahardenbrook@swlaw.com

The United States is represented by:

         David L. Dain, Esq.
         John B. Lyman, Esq.
         Environmental Enforcement Section
         United States Department of Justice
         999 18th Street, South Terrace, Suite 370
         Denver, CO 80202
         Telephone: (303) 844-7371
         E-mail: david.dain@usdoj.gov

                      About Federal Resources

Federal Resources Corporation is a Nevada Corporation that was
formed in 1960 as a result of a merger between Radorock Resources,
Inc., and Federal Uranium Corporation.  Federal currently has only
two assets: (1) 100% of the stock of Camp Bird, a Colorado
corporation and (2) 100% interest in a Madawaska Mines Limited, a
Canadian corporation doing business in Ontario Canada.

Camp Bird Colorado, Inc.'s principal assets consist of patented
gold mining claims and related land located in Ouray, Colorado.
Camp Bird also is the sole owner of Camp Bird Tunnel, Mining and
Transportation Company ("CTMT"), which owns various water and
tunnel rights used and associated with the Camp Bird properties.

Madawaska Mines owns a 5l% interest in a joint venture, which holds
the Madawaska Mine near Bancroft, Ontario.

Scott A. Butters is the President and CEO.  Bentley J. Blum is the
controlling shareholder of FRC.

Federal Resources Corporation, along with subsidiary Camp Bird
Colorado, sought Chapter 11 bankruptcy protection (Bankr. D. Utah
Case No. 14-33427 and 14-33428) in Salt Lake City on Dec. 29, 2014,
with plans to sell subsidiary Camp Bird's gold mine in Ouray,
Colorado to pay off creditors.  The petitions were signed by Scott
A. Butters, president and director.

The Debtors are represented by David E. Leta, Esq., at Snell &
Wilmer, in Salt Lake City.

Federal and Camp Bird each estimated $10 million to $50 million in
asset and debt.

The Chapter 11 cases and any associated open adversary proceedings
are assigned to Judge Kevin R. Anderson.

                           *     *     *

On March 27, 2015, the Debtors filed their joint plan of
liquidation and accompanying disclosure statement.  The Plan
contemplates the establishment of a liquidating trust and the
appointment of an independent liquidating agent to sell the
Debtors' assets.

In November 2015, the Debtors won approval for bid procedures for
Sale of Camp Bird Colorado's mining equipment.  Richard Ciardo, the
stalking horse bidder, purchased the equipment for $87,000.

On Nov. 6, 2015, the Court entered an order extending the exclusive
time period within which the Debtors may solicit acceptances to
their Plan pursuant to 11 U.S.C. Sec. 1121(d) up to and including
Feb. 29, 2016.

On Jan. 28, 2016, the bankruptcy judge entered an order granting
Caldera's motion for the immediate appointment of a Chapter 11
trustee in the Debtors' Chapter 11 cases.


FIRST DATA: Capital Research Reports 6% Stake as of Dec. 31
-----------------------------------------------------------
Capital Research Global Investors reported in a Schedule 13G filed
with the Securities and Exchange Commission that as of Dec. 31,
2015, is deemed to be the beneficial owner of 10,770,546 shares or
6% of the 179,873,244 shares of First Data Corporation believed to
be outstanding as a result of CRMC acting as investment adviser to
various investment companies registered under Section 8 of the
Investment Company Act of 1940.  A copy of the regulatory filing is
available for free at http://is.gd/1irWZb

                        About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

For the 12 months ended Dec. 31, 2015, the Company reported a net
loss attributable to the Company of $1.48 billion on $11.45 billion
of total revenues compared to a net loss attributable to the
Company of $458 million on $11.15 billion of total revenues for the
12 months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $34.62 billion in total
assets, $30.62 billion in total liabilities, $77 million in
redeemable noncontrolling interest and $3.66 billion in total
equity.

                           *     *     *

The Company carries a 'B3' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FIRST DATA: Citadel Holds Less Than 5% of Class A Shares
--------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, the following reporting persons disclosed beneficial
ownership of less than five percent of shares of Class A common
stock of First Data Corporation: Citadel Advisors LLC, 3.4%;
Citadel Advisors Holdings II LP, 3.4%; Citadel GP LLC, 3.5% and;
Kenneth Griffin, 3.5%.

Citadel Advisors is the portfolio manager for CG and SC.  CAH2 is
the managing member of Citadel Advisors.  CALC III LP, a Delaware
limited partnership, is the non-member manager of Citadel
Securities.  CGP is the general partner of CALC3 and CAH2.  Mr.
Griffin is the president and chief executive officer of, and owns a
controlling interest in, CGP.

A copy of the regulatory filing is available for free at:

                      http://is.gd/uoed4i

                       About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

For the 12 months ended Dec. 31, 2015, the Company reported a net
loss attributable to the Company of $1.48 billion on $11.45 billion
of total revenues compared to a net loss attributable to the
Company of $458 million on $11.15 billion of total revenues for the
12 months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $34.62 billion in total
assets, $30.62 billion in total liabilities, $77 million in
redeemable noncontrolling interest and $3.66 billion in total
equity.

                           *     *     *

The Company carries a 'B3' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FIRST DATA: New Omaha Holdings, et al., Hold 74.9% Cass A Shares
----------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, New Omaha Holdings L.P., New Omaha Holdings LLC
KKR 2006 Fund L.P., et al., disclosed that as of Dec. 31, 2015,
they beneficially own 535,791,146 shares of Class A common stock of
First Data Corporation representing 74.9 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/YvwK9J

                         About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

For the 12 months ended Dec. 31, 2015, the Company reported a net
loss attributable to the Company of $1.48 billion on $11.45 billion
of total revenues compared to a net loss attributable to the
Company of $458 million on $11.15 billion of total revenues for the
12 months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $34.62 billion in total
assets, $30.62 billion in total liabilities, $77 million in
redeemable noncontrolling interest and $3.66 billion in total
equity.

                           *     *     *

The Company carries a 'B3' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FIRST DATA: Viking Global Investors Holds 10.8% Class A Shares
--------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, the following reporting persons disclosed beneficial
ownership of shares of Class A common stock of First Data
Corporation:

                                               Percent of
   Name                                          Class
   ----                                        ----------
   Viking Global Investors LP                    10.8%
   Viking Global Performance LLC                  7.9%  
   Viking Global Equities LP                      2.7%
   Viking Global Equities II LP                   0.2%
   VGE III Portfolio Ltd.                         5.0%
   Viking Long Fund GP LLC                        2.9%
   Viking Long Fund Master Ltd.                   2.9%
   Andreas O. Halvorsen                          10.8%
   David C. Ott                                  10.8%
   Daniel S. Sundheim                            10.8%

The percentages are calculated based upon the Company having
201,623,308 shares of Class A common Stock outstanding, which
figure reflects (i) the 179,873,244 shares of Class A Common Stock
outstanding as of Oct. 30, 2015, as stated in the Company's Form
10-Q for the quarterly period ended Sept. 30, 2015, filed on Nov.
10, 2015 and (ii) the 21,750,064 shares of Class B Common Stock
beneficially owned in the aggregate by the Reporting Persons.

A copy of the regulatory filing is available for free at:

                      http://is.gd/VWVUx8

                        About First Data

Based in Atlanta, Georgia, First Data Corporation provides
commerce and payment solutions for financial institutions,
merchants, and other organizations worldwide.

For the 12 months ended Dec. 31, 2015, the Company reported a net
loss attributable to the Company of $1.48 billion on $11.45 billion
of total revenues compared to a net loss attributable to the
Company of $458 million on $11.15 billion of total revenues for the
12 months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $34.62 billion in total
assets, $30.62 billion in total liabilities, $77 million in
redeemable noncontrolling interest and $3.66 billion in total
equity.

                           *     *     *

The Company carries a 'B3' corporate family rating, with a
stable outlook, from Moody's Investors Service, a 'B' corporate
credit rating, with stable outlook, from Standard & Poor's, and
a 'B' long-term issuer default rating from Fitch Ratings.


FOURTH QUARTER: Court OKs $1.75MM DIP Hike, Oct. 31 Extension
-------------------------------------------------------------
Judge W. Homer Drake of the U.S. Bankruptcy Court for the Northern
District of Georgia, Newnan Division, authorized Fourth Quarter
Properties 86, LLC, to enter into, execute and be bound by the
First Amendment extending the term of the DIP Financing Agreement.

The Amendment extends the DIP Agreement through Oct. 31, 2016, and
increases the maximum amount available under the DIP Financing
Agreement to be $1,750,000.

The Troubled Company Reporter reported that the Court previously
entered an order authorizing the Debtor to
obtain financing from FQP 100, LLC with a credit limit up to
$500,000 through the earlier of: (i) Feb. 1, 2016, (ii) the
effective date of any plan confirmed in the case, or (iii) the date
of sale of substantially all of the Debtor's assets.  

The Debtor related that since approval of the DIP Order, it has
filed its Liquidating Plan of Reorganization, which provides that
funds required for payment to creditors will be generated from
operating the cattle ranch and proceeds of the sale of real and
personal property, which will occur no later than Oct. 31, 2016.

The Debtor contended that in order to continue the operations of
the
cattle ranch until the sale of the real and personal property, the
Debtor will continue to require DIP Financing through Oct. 31,
2016
and an increase in the Maximum Amount Available under the DIP
Financing agreement to $1,750,000 to aid in the efficient
administration of the estate.  

Fourth Quarter Properties 86, LLC, is represented by:

     Matthew S. Cathey, Esq.
     STONE & BAXTER, LLP
     Suite 800, Flicking & Co. Building
     577 Mulberry Street
     Macon, Georgia 31201
     Telephone: (478) 750-9898
     Facsimile: (478) 750-9899
     Email: mcathey@stoneandbaxter.com

          About Fourth Quarter Properties 86

Fourth Quarter Properties 86, LLC, sought Chapter 11 protection
(Bankr. N.D. Ga. Case No. 15-10135) in Newnan, Georgia, on Jan. 22,
2015.  According to the docket, the Debtor's Chapter 11 plan and
disclosure statement are due May 22, 2015.

Little Suwanee Holdings, LLC, owns 95 percent of the membership
interests in the Debtor while J. Bruce Williams, Jr., holds the
remaining 5 percent.

The Debtor is represented by Ward Stone, Jr., Esq., at Stone &
Baxter LLP, in Macon, Georgia.

The Debtor disclosed $49,124,608 in assets and $75,377,946 in
liabilities in its schedules.


FREESEAS INC: Crede CG Holds 1.4% of Outstanding Common Shares
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Crede CG III, Ltd., Crede Capital Group, LLC, Acuitas
Financial Group, LLC and Terren S. Peizer disclosed that as of Dec.
31, 2015, they beneficially own 9,748 shares of common stock of
FreeSeas Inc. representing 1.4 percent of the shares outstanding.
A copy of the regulatory filing is available for free at:

                      http://is.gd/IxnGFM

                      About FreeSeas Inc.

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

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

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

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

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


GLOBAL ARENA: Put Under Liquidation, SIPC Serves as Trustee
-----------------------------------------------------------
On January 28, 2016, the Securities Investor Protection Corporation
(SIPC) filed an application seeking an order placing Global Arena
Capital Corp. (Global Arena), a brokerage firm located in New York
City, in liquidation under the Securities Investor Protection Act
(SIPA).  On Feb. 18, 2016, the order of the United States District
Court for the Southern District of New York, Judge Robert Sweet
presiding, was docketed, placing Global Arena in liquidation and
appointing SIPC as trustee.  Global Arena ceased doing business in
2015, but some customers of the firm have not received the assets
in their accounts.  Under SIPA, the case will be removed to the
United States Bankruptcy Court for the Southern District of New
York.

Claim forms will be sent to customers and creditors of the firm as
soon as mailing lists can be compiled and claim forms printed. SIPC
received information from the Financial Industry Regulatory
Authority (FINRA) that prompted the application.

Information on filing claims and related deadlines will be posted
on www.sipc.org

                          About SIPC

The Securities Investor Protection Corporation
--http://www.sipc.org -- is the U.S. investor's first line of
defense in the event of the failure of a brokerage firm owing
customers cash and securities that are missing from customer
accounts.

                       About Global Arena

New York, N.Y.-based Global Arena Holding, Inc., formerly Global
Arena Holding Subsidiary Corp., was formed in February 2009, in the
state of Delaware.  The Company is a financial services firm that
services the financial community through its subsidiaries as
follows:

Global Arena Investment Management LLC provides investment advisory
services to its clients.  GAIM is registered with the Securities
and Exchange Commission as an investment advisor and clears all of
its business through Fidelity Advisors, its correspondent broker.
Global Arena Commodities Corp. provides
commodities brokerage services and earns commissions.  Global Arena
Trading Advisors, LLC provides futures advisory services and earns
fees.  GATA is registered with the National Futures Association
(NFA) as a commodities trading advisor.  Lillybell Entertainment,
LLC provides finance services to the entertainment industry.

Global Arena disclosed a net loss attributable to common
stockholders of $2.44 million in 2012, as compared with a net loss
attributable to common stockholders of $2.75 million in 2011.

Wei, Wei & Co., LLP, in New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2012.  The independent auditors noted that the
Company has suffered recurring losses since inception, experiences
a deficiency of cash flow from operations and has a stockholders'
deficiency.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


GRAND & PULASKI: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Grand & Pulaski Citgo, Inc.
        1345 North Pulaski Road
        Chicago, IL 60651

Case No.: 16-05081

Chapter 11 Petition Date: February 17, 2016

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

Judge: Hon. Deborah L. Thorne

Debtor's Counsel: Joel H Shapiro, Esq.
                  KAMENEAR KADISON SHAPIRO & CRAIG
                  20 North Clark Street, Suite 2200
                  Chicago, IL 60602
                  Tel: 312 332-0490
                  Fax: 312 332-6163
                  Email: jshapiro@kksclaw.com

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

Estimated Liabilities: $1 million to $10 million

Largest unsecured creditor: Lakeside Bank, $2,682,755.

The petition was signed by John M. Scali, Sr., president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-05081.pdf


GT ADVANCED: Has Deal Allowing Kerry Claims for $1.3-Mil.
---------------------------------------------------------
GT Advanced Technologies Inc. and its affiliated debtors ask the
United States Bankruptcy Court to approve the Stipulation and
Agreed Order executed by and among the Debtors, Kerry Freight (Hong
Kong) Limited and Kerry Logistics (Hong Kong) Limited regarding
allowance of claims and resolution of the Debtors' Fourth Omnibus
Objection to Claims.

The Stipulation provides, among other things, that Claim No. 588
filed by Kerry Freight will be allowed as a non-priority unsecured
claim in the amount of $431,206 and Claim No. 590 filed by Kerry
Logistics will be allowed as a secured claim in the amount of
$675,933 and a non-priority unsecured claim in the amount of
$225,311, respectively, against GT Hong Kong.

Kerry Freight and Kerry Logistics agree that they will not object
to the Debtors' chapter 11 plan as long as the chapter 11 plan
provides for allowance and treatment of Claim No. 588 and Claim No.
590 as set forth in the Stipulation.

Concurrently with the disbursement of the Adequate Protection
Account in the sum of $675,933 to Kerry Logistics, the Debtors are
authorized to close the Adequate Protection Account, and all
secured claims of Kerry Logistics will be deemed satisfied, paid,
and discharged in full but shall retain its allowed unsecured
claim. Kerry Freight and Kerry Logistics provide the Debtors with a
global release, subject to certain carve-outs.

In addition, Claim No. 1033 filed by Kerry Freight and Claim No.
1034 filed by Kerry Logistics, respectively, will be disallowed and
expunged for all purposes.

The Mediator, Louis H. Kornreich, told the Court that the Parties
had reached into settlements with compliance of the Mediation
Order.

GT Advanced Technologies Inc. and its affiliated debtors as debtors
in possession are represented by:

     Luc A. Despins, Esq.
     Andrew V. Tenzer, Esq.
     James T. Grogan, Esq.
     G. Alexander Bongartz, Esq.
     PAUL HASTINGS LLP
     Park Avenue Tower
     75 East 55th Street, First Floor
     New York, New York 10022
     Telephone: (212) 318-6000
     Facsimile: (212) 319-4090
     Email: lucdespins@paulhastings.com
            andrewtenzer@paulhastings.com
            jamesgrogan@paulhastings.com
            alexbongartz@paulhastings.com

        -- and --

     Daniel W. Sklar, Esq.
     Holly J. Barcroft, Esq.
     NIXON PEABODY LLP
     900 Elm Street
     Manchester, NH 03101-2031
     Telephone: (603) 628-4000
     Facsimile: (603) 628-4040
     Email: dsklar@nixonpeabody.com
            hbarcroft@nixonpeabody.com

The Mediator is represented by:

     Louis H. Kornreich, Esq.
     BERNSTEIN, SHUR, SAWYER & NELSON, P.A.
     100 Middle Street, PO Box 9729
     Portland, ME 04104-5029
     Telephone: (207) 774-1200
     E-mail: lkornreich@bernsteinshur.com

        About GT Advanced

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

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

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

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

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

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

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

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

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


HAWKER BEECHCRAFT: 10th Cir. Affirms Ruling Against Former Worker
-----------------------------------------------------------------
Plaintiff-Appellant Harold Nyanjom sued his former employer, Hawker
Beechcraft Corporation, for violations of the Americans with
Disabilities Act and the Kansas Act Against Discrimination --
alleging that HBC discriminated against him because he is visually
impaired and retaliated against him for complaining about the
discrimination.  On cross-motions for summary judgment, the
district court found in favor of HBC.

In an Order and Judgment dated January 28, 2016, which is available
at http://is.gd/jyoyDXfrom Leagle.com, the United States Court of
Appeals for the Tenth Circuit affirmed the judgment of the district
court.

The case is HAROLD M. NYANJOM, Plaintiff-Appellant, v. HAWKER
BEECHCRAFT CORP., Defendant-Appellee, No. 15-3148 (10th Cir.).

                   About Hawker Beechcraft

Hawker Beechcraft Acquisition Company, LLC, headquartered in
Wichita, Kansas, manufactures business jets, turboprops and piston
aircraft for corporations, governments and individuals worldwide.

Hawker Beechcraft Inc. and 17 affiliates filed for Chapter 11
reorganization (Bankr. S.D.N.Y. Lead Case No. 12-11873) on May 3,
2012.  Hawker is 49%-owned by affiliates of Goldman Sachs Group
Inc. and 49%-owned by Onex Corp.  The Company's balance sheet at
Dec. 31, 2011, showed $2.77 billion in total assets, $3.73 billion
in total liabilities and a $956.90 million total deficit.  Other
claims include pensions underfunded by $493 million.

Hawker's legal representative was Kirkland & Ellis LLP, its
financial advisor was Perella Weinberg Partners LP and its
restructuring advisor was Alvarez & Marsal.  Epiq Bankruptcy
Solutions LLC served as claims and notice agent.

Sidley Austin LLP served as legal counsel and Houlihan Lokey
Howard & Zukin Capital Inc. served as financial advisor to the DIP
Agent and the Prepetition Agent.

Wachtell, Lipton, Rosen & Katz represented an ad hoc committee of
senior secured prepetition lenders holding 70% of the loans.

Milbank, Tweed, Hadley & McCloy LLP represented an ad hoc
committee
of holders of the 8.500% Senior Fixed Rate Notes due 2015 and
8.875%/9.625% Senior PIK Election Notes due 2015 issued by Hawker
Beechcraft Acquisition Company LLC and Hawker Beechcraft Notes
Company.  The members of the Ad Hoc Committee -- GSO Capital
Partners, L.P. and Tennenbaum Capital Partners, LLC -- hold claims
or manage accounts that hold claims against the Debtors' estates
arising from the purchase of the Senior Notes.  Deutsche Bank
National Trust Company, the indenture trustee for senior fixed
rate
notes and the senior PIK-election notes, is represented by Foley &
Lardner LLP.

An Official Committee of Unsecured Creditors appointed in the case
selected Daniel H. Golden, Esq., and the law firm of Akin Gump
Strauss Hauer & Feld LLP as legal counsel.  The Committee's
financial advisor was FTI Consulting, Inc.

On June 30, 2012, Hawker filed its Plan, which proposed to
eliminate $2.5 billion in debt and $125 million of annual cash
interest expense.  The plan would give 81.9% of the new stock to
holders of $1.83 billion of secured debt, while 18.9% of the new
shares are for unsecured creditors.  The proposal has support from
68% of secured creditors and holders of 72.5% of the senior
unsecured notes.

In July 2012, Hawker disclosed it was in exclusive talks with
China's Superior Aviation Beijing Co. for the purchase of Hawker's
corporate jet and propeller plane operations out of bankruptcy for
$1.79 billion.  In October 2012, Hawker unveiled that those talks
have collapsed amid concerns a deal with Superior wouldn't pass
muster with a U.S. government panel and other cross-cultural
complications.  Sources told The Wall Street Journal that Superior
encountered difficulties separating Hawker's defense business from
those units in a way that would make both sides comfortable the
deal would get U.S. government clearance.  The sources told WSJ
the
defense operations were integrated in various ways with Hawker's
civilian businesses, especially the propeller plane unit, in ways
that proved difficult to untangle.

Thereafter, Hawker said it intends to emerge from bankruptcy as an
independent company.  On Oct. 29, 2012, Hawker filed a modified
reorganization plan and disclosure materials.  Hawker said the
plan
was supported by the official creditors' committee and by a
"substantial majority" of holders of the senior credit and a
majority of holders of senior notes.  Hawker said it will either
sell or close the jet-manufacturing business.

The revised plan still offered 81.9% of the new stock in return
for
$921 million of the $1.83 billion owing on the senior credit.
Unsecured creditors were slated to receive the remaining 18.9% of
the new stock.  Holders of the senior credit would receive 86% of
the new stock.  The senior credit holders were projected to have a
43.1% recovery from the plan.  General unsecured creditors'
recovery was a projected 5.7% to 6.3%.  The recovery by holders of
$510 million in senior notes was predicted to be 9.2% to 10%.

The company's Joint Plan of Reorganization was approved by the
Bankruptcy Court on Feb. 1, 2013, and became effective on Feb. 15.

Hawker Beechcraft, on Feb. 19, 2013, disclosed that it formally
emerged from the Chapter 11 process as Beechcraft Corp., a new
company well-positioned to compete in the worldwide business
aviation, special mission, trainer and light attack markets.


HDGM ADVISORY: Court Grants HSBC's Bid to Dismiss Suit
------------------------------------------------------
Defendant HSBC Capital (USA), Inc., filed a motion to withdraw the
reference to the United States Bankruptcy Court for the Southern
District of Indiana of the adversary proceeding filed by Harold D.
Garrison.  The Debtor did not respond to HSBC's motion.  The Debtor
moved to convert his Chapter 11 petition to a Chapter 7 liquidation
proceeding and HSBC subsequently filed a motion to dismiss the
adversary proceeding complaint with prejudice.  Jenice
Golson-Dunlap, the Chapter 7 Trustee, and thus the current
plaintiff in the matter, has not opposed either the motion to
withdraw the reference or the motion to dismiss.

In an Order dated February 5, 2016, which is available at
http://is.gd/xXIGyhfrom Leagle.com, Judge Richard L. Young of the
United States District Court for the Southern District of Indiana,
Indianapolis Division, granted HSBC's motion to withdraw the
reference of the adversary proceeding and HSBC's Request for a
Ruling on Motion to Withdraw the Reference.  Judge Young also
granted the motion to dismiss the case and denied as moot the
request for a ruling on the motion to withdraw the reference.

The adversary proceeding is JENICE GOLSON-DUNLAP, Trustee,
Plaintiff, v. HSBC CAPITAL (USA), INC., Defendant, No.
1:15-cv-00588-RLY-DKL, Adversary Proceeding No. 15-50052 (S.D.
Ind.).

The bankruptcy case is In re: HAROLD D. GARRISON, Debtor,
Bankruptcy No. 14-09237-JMC-11 (Bankr. S.D. Ind.).

HAROLD D. GARRISON, Plaintiff, is represented by Bradley J.
Buchheit, Esq. -- TUCKER, HESTER, BAKER & KREBS.

HSBC CAPITAL (USA), INC., Defendant, is represented by Thomas C.
Scherer, Esq. -- tscherer@bgdlegal.com -- BINGHAM GREENEBAUM DOLL
LLP & Whitney L. Mosby, Esq. -- wmosby@bgdlegal.com -- BINGHAM
GREENEBAUM DOLL LLP.

                   About HDGM Advisory Services

HDGM Advisory Services, LLC ("MAS") and HDG Mansur Investments
Services, Inc. ("MISI") invest in and develop real estate around
the world.  They also provided management and investment services
to real estate funds that were set up as an investment vehicle for
religious Muslims.  MISI developed Finzels Reach, a real estate
development in Bristol England.  MAS and MISI are directly
or indirectly owned by Harold D. Garrison, who is also a debtor in
possession in a separate chapter 11 case.

MAS and MISI sought Chapter 11 bankruptcy protection (Bankr. S.D.
Ind. Case No. 14-04797 and 14-04798) in Indianapolis, Indiana, on
May 21, 2014.  On May 28, 2014, the Hon. James M. Carr directed
the joint administration the cases, under the lead case -- HDGM
Advisory, Case No. 14-04797.

MAS disclosed $20.3 million in assets and $7.99 million in
liabilities as of the Chapter 11 filing.  MISI disclosed $20.4
million in assets and $12.4 million in liabilities.  According to
a court filing, the Debtors don't have any secured creditors.

The Debtors have tapped Michael W. Hile, Esq., and Christine K.
Jacobson, Esq., at Katz & Korin PC, as counsel.

An affiliate of the Debtors, Hamilton Proper Partners Golf
Partnership, L.P., sought bankruptcy protection (Bankr. S.D. Ind.
Case No. 14-00461) on Jan. 24, 2014.

On Nov. 10, 2014, Debtors filed their First Amended Joint Plan of
Reorganization and their Disclosure Statement.  In the Amended
Plan, the Debtors proposed that their estates be liquidated by a
Liquidating Trust that would liquidate assets and claims and
distribute recoveries in accord with the practices of the
Bankruptcy Code.


HEBREW HOSPITAL: Files Schedules of Assets, Debts
-------------------------------------------------
Hebrew Hospital Senior Housing Inc. filed with the U.S. Bankruptcy
Court for the Southern District of New York its schedules of assets
and liabilities for non-individuals, disclosing:

   Name of Schedule                   Assets       Liabilities
   ----------------                   ------       -----------
A. Real Property                 $32,837,607                       
                              
B. Personal Property              $3,056,790         
D. Creditors Holding
   Secured Claims                                   $8,955,000     
         
E. Creditors Holding Unsecured
   Priority Claims                                          $0     
                       
F. Creditors Holding Unsecured
   Non-priority Claims                             $53,683,925
                                  -----------      -----------
TOTAL                             $35,894,397      $62,638,925

A copy of Hebrew Hospital's schedules of assets and liabilities is
available at http://is.gd/l3xVOj

                    About Hebrew Hospital

Hebrew Hospital Senior Housing Inc. sought for Chapter 11
bankruptcy protection (Bankr. S.D.N.Y. Case No. 15-13264) on Dec.
9, 2015.  The petition was signed by Mary Frances Barrett as CEO.
Harter Secrest & Emery LLP represents the Debtor as counsel. The
Debtor has engaged RBC Capital Markets as its investment banker.
Judge Michael E. Wiles has been assigned the case.

The Debtor is engaged in the sponsorship and operation of a 120
unit continuing care retirement community.  CCRCs are senior adult
programs that offer independent living apartments, residential
amenities and long-term care services to senior adults.  The Debtor
generates the majority of its revenue from resident entrance fees
and monthly rents.

The Office of the U.S. Trustee appointed five creditors to the
official committee of unsecured creditors.  DLA Piper LLP (US)
represents the committee.


HERCULES OFFSHORE: Mulls Sale of Assets to Maximize Biz Value
-------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that months after
emerging from Chapter 11 bankruptcy, oil and gas drilling services
provider Hercules Offshore Inc. on Feb. 11, 2016, said that it is
exploring a possible sale of the company.

Hercules said in a statement that it has formed a special committee
to "explore various strategic alternatives potentially available to
the company" to maximize the value of its business. The
announcement comes months after Hercules emerged from bankruptcy on
the back of a $1.2 billion debt-for-equity swap.

                        Plan Effective Date

The Debtors notified the U.S. Bankruptcy Court for the District of
Delaware that Effective Date of their Joint Prepackaged Plan of
Reorganization occurred on Nov. 6, 2015.

On Sept. 24, 2015, the Court approved the Debtors' solicitation and
Disclosure Statement; and confirmed the Prepackaged Plan.

                      About Hercules Offshore

Headquartered in Houston, Hercules Offshore, Inc. --
http://www.herculesoffshore.com/-- operates a fleet of 27 jackup  

rigs, including one rig under construction, and 21 liftboats. The
Company offers a range of services to oil and gas producers to
meet their needs during drilling, well service, platform
inspection, maintenance, and decommissioning operations in several
key shallow water provinces around the world.

On Aug. 13, 2015 Hercules Offshore and 14 affiliated debtors each
filed a voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Lead Case No. 15-11685) in the
U.S.
Bankruptcy Court for the District of Delaware.  The cases are
pending before the Honorable Kevin J. Carey.

The Debtors tapped Baker Botts LLP as counsel; Morris, Nichols,
Arsht & Tunnell, as local counsel; Andrews Kurth LLP, as general
corporate counsel; Lazard Freres & Co. LLC, as investment banker,
Alvarez & Marsal, as restructuring advisor; and Prime Clerk, LLC,
as claims and noticing agent.

The Steering Group of Holders of Senior Notes is represented by
Akin Gump Strauss Hauer & Feld LLP's Arik Preis, Esq., and Michael
S. Stamer, Esq.

HERO disclosed $546 million in assets and $1.306 billion in debt as
of Aug. 11, 2015.

                           *     *     *

The Debtors on the Petition Date filed a pre-packaged Chapter 11
plan that would convert $1.2 billion of outstanding senior notes to
96.9% of new common equity.


HOMER CITY: S&P Ratings on Watch Neg. Over Low PJM Power Prices
---------------------------------------------------------------
Standard & Poor's Ratings Services placed its ratings on Homer City
Generation L.P., including the 'B-' issuer credit rating and 'B+'
rating on the senior secured notes, on CreditWatch with negative
implications. The recovery rating on the notes remains '1',
indicating expectations for very high (90% to 100%) recovery in the
event of a default.

"The CreditWatch placement is based on the potential for financial
performance to weaken materially due to lower power prices in the
PJM Interconnection power market," said Standard & Poor's credit
analyst Terry Pratt. Persistently low natural gas prices have
significantly reduced power prices in the PJM energy market, which
will negatively affect Homer City's financial performance. Homer
City earns energy and capacity revenues from its single asset, a
1,884 megawatt coal-fired power plant located in western
Pennsylvania.

S&P expects to resolve the CreditWatch on Homer City once it
conclude its forecast of revenues and the cost of production
profile based on its current commodity prices assumptions. S&P will
also take into account any changes to the long-term major
maintenance and capital expenditures profile that might occur due
to the significant potential for lower earnings.


HORSEHEAD HOLDING: Named RAS's Timothy Boates as CRO
----------------------------------------------------
The board of directors of Horsehead Holding Corp. on February 15,
2016, created the office of Chief Restructuring Officer and
appointed Mr. Timothy Boates as the Company's Chief Restructuring
Officer. Mr. Boates will report directly to the Board.

His primary responsibilities will involve:

     (i) the management of all aspects of the financial resources
         of the Company and its direct and indirect wholly-owned
         subsidiaries that filed voluntary petitions for
         reorganization under Chapter 11,

    (ii) evaluating all aspects of the Debtors' operations for
         cost reduction measures during the pendency of the
         bankruptcy proceedings,

   (iii) directing the efforts of the Debtors' management,
         employees and external professionals in bankruptcy-
         related matters and transaction efforts,

    (iv) directing the development of a plan of reorganization,
         and

     (v) managing the obligations owed by the Debtors to its
         significant creditors.

Mr. Boates -- tboates@rasmanagement.com -- is 54 years old and is
the President of RAS Management Advisors, LLC, which he joined in
May 2000. During his tenure at RAS, Mr. Boates has acted as the
chief restructuring officer, interim chief financial officer and/or
the restructuring advisor in many companies across multiple
industries.

Mr. Boates started his career with Price Waterhouse LLP, where he
spent eight years, including three in Germany. He later served as a
chief executive officer and chief financial officer of various
companies in food distribution and electronics manufacturing
services. Mr. Boates holds a bachelor's degree in business
administration and accounting from the University of Houston. Mr.
Boates does not have any family relationships with any directors or
executive officers of the Company and there are no related party
transactions with Mr. Boates reportable under Item 404(a) of
Regulation S-K under the Securities Act of 1933, as amended.

As part of Mr. Boates' appointment as the Company's Chief
Restructuring Officer, on February 15, 2016, the Company and RAS
entered into an engagement letter. Pursuant to the letter, and
subject to approval from the bankruptcy court, RAS and its
representatives, including Mr. Boates, will provide their services
based on daily and hourly rates and will invoice the Debtors for
fees and out-of-pocket expenses on a weekly basis. The Debtors are
free to terminate RAS's services, including the services of Mr.
Boates as Chief Restructuring Officer, at any time, subject to
notice provisions. Subject to approval from the bankruptcy court,
the Debtors have agreed to indemnify RAS, its employees, directors,
officers and agents, including Mr. Boates, against any and all
claims arising from the performance of their duties as described in
the letter.

                       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.


HORSEHEAD HOLDING: U.S. Bank Steps Down as Indenture Trustee
------------------------------------------------------------
Horsehead Holding Corp. on February 10, 2016, entered into an
Instrument of Resignation, Appointment and Acceptance with U.S.
Bank National Association, as resigning trustee, and Delaware Trust
Company, as successor trustee, with respect to the indenture, dated
as of July 27, 2011, governing the Company's 3.80% Convertible
Senior Notes due 2017.

On February 11, 2016, the Company and certain subsidiary guarantors
entered into an Instrument of Resignation, Appointment and
Acceptance with the Resigning Trustee and Wilmington Trust,
National Association, as successor trustee, with respect to the
indenture, dated as of July 29, 2014, governing the Company's 9.00%
Senior Notes due 2017.

Pursuant to each instrument, the Company accepted the resignation
of the Resigning Trustee and appointed the Successor Trustees to
act as trustee, paying agent, registrar, custodian, conversion
agent or bid solicitation agent, as applicable, under the
respective Indenture. Each instrument provides, among other things,
that the Resigning Trustee assigns, transfers, delivers, and
conveys to the applicable Successor Trustee all rights, powers,
trusts, privileges, duties and obligations of the Resigning Trustee
in and to the trust created by the respective Indenture and each
Successor Trustee accepts its appointment as trustee under the
applicable Indenture and assumes all the rights, powers, and duties
of the trustee under such Indenture, and accepts its appointment as
paying agent, registrar, custodian, conversion agent or bid
solicitation agent, as applicable, under the respective Indenture.

U.S. Bank National Association will continue to act as trustee,
collateral agent, paying agent and registrar of the Company's
10.50% senior secured notes due 2017 issued under the indenture,
dated as of July 26, 2012.

                       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.


HOVNANIAN ENTERPRISES: Citadel Holds Less Than 1% Class A Shares
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Citadel Advisors LLC, Citadel Advisors Holdings II LP,
Citadel GP LLC and Mr. Kenneth Griffin disclosed that as of
Dec. 31, 2015, they beneficially owned less than 1 percent of
outstanding common stock of Hovnanian Enterprises, Inc.  A copy of
the regulatory filing is available at http://is.gd/8g7taf

                  About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

Hovnanian Enterprises reported a net loss of $16.1 million on $2.14
billion of total revenues for the year ended Oct. 31, 2015,
compared to net income of $307 million on $2.06 billion of total
revenues for the year ended Oct. 31, 2014.  As of Oct. 31, 2015,
the Company had $2.60 billion in total assets, $2.73 billion in
total liabilities and a $128.08 million total stockholders'
deficit.

                           *     *     *

As reported by the Troubled Company Reporter on April 25, 2013,
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Hovnanian Enterprises Inc. to 'B-' from 'CCC+'.
"The upgrade reflects strengthening operating performance
supported by the broader recovery in the housing market that, we
believe, should support modest profitability in 2013," said
Standard & Poor's credit analyst George Skoufis.

In the Dec. 9, 2013, edition of the TCR, Fitch Ratings upgraded
the Issuer Default Rating (IDR) of Hovnanian Enterprises to 'B-'
from 'CCC'.  The upgrade and the Stable Outlook reflects HOV's
operating performance year-to-date (YTD), adequate liquidity
position, and moderately better prospects for the housing sector
during the remainder of this year and in 2014.

The TCR reported on Jan. 9, 2014, that Moody's Investors Service
raised the Corporate Family Rating of Hovnanian Enterprises, Inc.,
to B3 from Caa1.  The upgrade of the Corporate Family Rating to B3
reflects Hovnanian's improved financial performance including
improvement in interest coverage to slightly above 1x and finally
turning net income positive for the fiscal year 2013.


IDENTIPHI INC: Investor Has Standing to Sue DLA Piper
-----------------------------------------------------
Michelle Casady at Bankruptcy Law360 reported that an Australian
financier and investor who lost $1.7 million in retirement funds
because he took allegedly negligent advice from his attorneys and
granted a loan to a now-defunct company has standing to sue DLA
Piper under longstanding state law, the Texas Supreme Court was
told in oral arguments on Feb. 11, 2016.  Chris Linegar, the former
majority shareholder of a security technology company, sued DLA
Piper for malpractice after he lost the money on a bridge loan he
provided to now-defunct IdentiPHI.

                      About IdentiPHI, Inc.

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


IDERA PHARMACEUTICALS: Baker Bros. Holds 6% Stake as of Dec. 31
---------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Baker Bros. Advisors LP, Baker Bros. Advisors (GP) LLC,
Felix J. Baker and Julian C. Baker disclosed that as of
Dec. 31, 2015, they beneficially own 7,117,277 shares of common
stock of Idera Pharmaceuticals, Inc., representing 6 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/aNjgmC

                          About Idera

Cambridge, Massachusetts-based Idera Pharmaceuticals, Inc., is a
clinical stage biotechnology company engaged in the discovery and
development of novel synthetic DNA- and RNA-based drug candidates
that are designed to modulate immune responses mediated through
Toll-like Receptors, or TLRs.  The Company has two drug
candidates, IMO-3100, a TLR7 and TLR9 antagonist, and IMO-8400, a
TLR7, TLR8, and TLR9 antagonist, in clinical development for the
treatment of autoimmune and inflammatory diseases.

Idera Pharmaceuticals reported a net loss attributable to common
stockholders of $39.2 million in 2014, a net loss applicable to
common stockholders of $21.09 million in 2013 and a net loss
applicable to common stockholders of $22.5 million in 2012.

As of Sept. 30, 2015, the Company had $99.08 million in total
assets, $6.42 million in total liabilities and $92.7 million in
total stockholders' equity.


INDEPENDENCE TAX II: Incurs $182,000 Net Loss in Third Quarter
--------------------------------------------------------------
Independence Tax Credit Plus L.P. II filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss of $182,282 on $197,030 of total revenues for the three
months ended Dec. 31, 2015, compared to a net loss of $124,517 on
$209,385 of total revenues for the same period in 2014.

For the nine months ended Dec. 31, 2015, the Company reported a net
loss of $429,246 on $634,810 of total revenues compared to a net
loss of $371,214 on $646,159 of total revenues for the nine months
ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $2.33 million in total assets,
$17.03 million in total liabilities and a $14.70 million total
partners' deficit.

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

                      http://is.gd/OL4dXc

            About Independence Tax Credit Plus L.P. II

Based in New York, Independence Tax Credit Plus L.P. II was
organized on Feb. 11, 1992, and commenced its public offering on
Jan. 19, 1993.  The general partner of the Partnership is Related
Independence Associates L.P., a Delaware limited partnership.  The
general partner of Related Independence Associates L.P. is Related
Independence Associates Inc., a Delaware Corporation.  The
ultimate parent of Related Independence Associates L.P. is
Centerline Holding Company.

The Partnership's business is primarily to invest in other
partnerships owning leveraged apartment complexes that are
eligible for the low-income housing tax credit enacted in the Tax
Reform Act of 1986, some of which may also be eligible for the
historic rehabilitation tax credit.

The Partnership is in the process of developing a plan to dispose
of all of its investments.

Independence Tax II reported a net loss of $493,000 on $868,000 of
total revenues for the year ended March 31, 2015, compared with a
net loss of $568,000 on $849,000 of total revenues for the year
ended March 31, 2014.


INT'L OIL TRADE: Court Refuses to Dismiss Bankruptcy Proceeding
---------------------------------------------------------------
Petitioning creditor Mohammad Al-Saleh filed a Motion for Summary
Judgment as to Involuntary Petition filed by International Oil
Trading Company, LLC ("IOTC USA").  The Alleged Debtor filed a
Memorandum in Opposition to Mr. Al-Saleh's Motion for Summary
Judgment and Mr. Al-Saleh filed a Reply to IOTC's Response.

In an Order dated February 8, 2016, which is available at
http://is.gd/4jerNwfrom Leagle.com, Judge Erik P. Kimball of the
United States Bankruptcy Court for the Southern District of
Florida, West Palm Beach Division, granted the Motion for Summary
Judgment and denied in part the Motion to Dismiss.

Judge Kimball denied with prejudice the Alleged Debtor's motion to
dismiss the proceeding.  The Court will conduct trial in the matter
solely on the issue of whether the Court should abstain from
exercising jurisdiction over the involuntary bankruptcy
proceeding.

The case is In re: INTERNATIONAL OIL TRADING COMPANY, LLC, CHAPTER
7, Alleged Debtor, Case No. 15-21596-EPK.


INTEGRATED BIOPHARMA: Delays Filing of Dec. 31 Form 10-Q
--------------------------------------------------------
Integrated Biopharma, Inc. disclosed in a Form 12b-25 filed with
the Securities and Exchange Commission that its quarterly report on
Form 10-Q for the quarterly period ended Dec. 31, 2015, cannot be
filed within the prescribed time period because the Company is
experiencing delays in the collection and compilation of certain
information required to be included in the Form 10-Q.  The Company
said the Quarterly Report will be filed on or before the fifth
calendar day following the prescribed due date.

                    About Integrated BioPharma

Based in Hillside, N.J., Integrated BioPharma, Inc. (INBP.OB) --
-- http://www.healthproductscorp.us/-- is engaged primarily in
manufacturing, distributing, marketing and sales of vitamins,
nutritional supplements and herbal products.  The Company's
customers are located primarily in the United States.  The Company
was previously known as Integrated Health Technologies, Inc., and,
prior to that, as Chem International, Inc.  The Company was
reincorporated in its current form in Delaware in 1995.  The
Company continues to do business as Chem International, Inc., with
certain of its customers and certain vendors.

Integrated Biopharma reported net income of $735,000 on $37.5
million of net sales for the year ended June 30, 2015, compared to
net income of $131,000 on $33.7 million of net sales for the year
ended June 30, 2014.

As of Sept. 30, 2015, the Company had $12.1 million in total
assets, $21.1 million in total liabilities and a $9.06 million
total stockholders' deficiency.


ISTAR INC: Apollo Management Reports 8.2% Stake as of Dec. 31
-------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Apollo Management Holdings GP, LLC, et al., disclosed
that as of Dec. 31, 2015, they beneficially own 7,467,726 shares of
common stock of iStar Inc. representing 8.2 percent of the shares
outstanding.
  
The percentage is based on 84,804,518 shares of Common Stock
outstanding as of Oct. 30, 2015, as reported in the Issuer's
Quarterly Report on Form 10-Q filed with the SEC on Nov. 3, 2015,
plus, where applicable, the shares of Common Stock issuable upon
conversion of the 1.5% Convertible Senior Notes due 2016, the 3.0%
Convertible Senior Notes due 2016 and the 4.5% Series J Cumulative
Convertible Perpetual Preferred Stock of the Issuer.

A copy of the regulatory filing is available for free at:

                       http://is.gd/cJUFGP

                          About iStar Inc.

New York-based iStar Inc., formerly known as iStar Financial Inc.
(NYSE: SFI) provides custom-tailored investment capital to high-end
private and corporate owners of real estate, including senior and
mezzanine real estate debt, senior and mezzanine corporate capital,
as well as corporate net lease financing and equity.  The Company,
which is taxed as a real estate investment trust, provides
innovative and value added financing solutions to its customers.

iStar Financial reported a net loss allocable to common
shareholders of $33.72 million in 2014, a net loss allocable to
common shareholders of $155.76 million in 2013 and a net loss
allocable to common shareholders of $272.99 million in 2012.

As of Sept. 30, 2015, the Company had $5.64 billion in total
assets, $4.48 billion in total liabilities, $11.6 million in
redeemable noncontrolling interests and $1.14 billion in total
equity.

                            *     *     *

As reported by the TCR on June 26, 2014, Fitch Ratings had
affirmed the Issuer Default Rating (IDR) of iStar Financial
at 'B'.  The 'B' IDR is driven by improvements in the company's
leverage, continued demonstrated access to the capital markets and
new sources of growth capital and material reductions in non-
performing loans (NPLs).

As reported by the TCR on Oct. 5, 2012, Standard & Poor's Ratings
Services affirmed its 'B+' long-term issuer credit rating on iStar
Financial.

In October 2012, Moody's Investors Service upgraded the corporate
family rating to 'B2' from 'B3'.  The current rating reflects the
REIT's success in extending near term debt maturities and
improving fundamentals in commercial real estate.  The ratings on
the October 2012 senior secured credit facility takes into account
the asset coverage, the size and quality of the collateral pool,
and the term of facility.


ISTAR INC: Robert Pitts Reports 4.4% Stake as of Feb. 11
--------------------------------------------------------
Robert S. Pitts, Jr. disclosed in an amended Schedule 13G filed
with the Securities and Exchange Commission that as of Feb. 11,
2016, he beneficially owns 3,767,860 shares of common stock of
iStar Inc. representing 4.4 percent of the shares outstanding.

Also included in the filing are the following reporting persons:

-- Steadfast Capital Management LP, 3,615,401 shares;

-- Steadfast Advisors LP, 152,459 shares;

-- Steadfast Capital, L.P., 152,459 shares;

-- American Steadfast, L.P., 1,358,631 shares; and

-- Steadfast International Master Fund Ltd., 2,256,770 shares.

A copy of the regulatory filing is available for free at:

                       http://is.gd/bA8NHf

                         About iStar Inc.

New York-based iStar Inc., formerly known as iStar Financial Inc.
(NYSE: SFI) provides custom-tailored investment capital to high-end
private and corporate owners of real estate, including senior and
mezzanine real estate debt, senior and mezzanine corporate capital,
as well as corporate net lease financing and equity.  The Company,
which is taxed as a real estate investment trust, provides
innovative and value added financing solutions to its customers.

iStar Financial reported a net loss allocable to common
shareholders of $33.72 million in 2014, a net loss allocable to
common shareholders of $155.76 million in 2013 and a net loss
allocable to common shareholders of $272.99 million in 2012.

As of Sept. 30, 2015, the Company had $5.64 billion in total
assets, $4.48 billion in total liabilities, $11.6 million in
redeemable noncontrolling interests and $1.14 billion in total
equity.

                            *     *     *

As reported by the TCR on June 26, 2014, Fitch Ratings had
affirmed the Issuer Default Rating (IDR) of iStar Financial
at 'B'.  The 'B' IDR is driven by improvements in the company's
leverage, continued demonstrated access to the capital markets and
new sources of growth capital and material reductions in non-
performing loans (NPLs).

As reported by the TCR on Oct. 5, 2012, Standard & Poor's Ratings
Services affirmed its 'B+' long-term issuer credit rating on iStar
Financial.

In October 2012, Moody's Investors Service upgraded the corporate
family rating to 'B2' from 'B3'.  The current rating reflects the
REIT's success in extending near term debt maturities and
improving fundamentals in commercial real estate.  The ratings on
the October 2012 senior secured credit facility takes into account
the asset coverage, the size and quality of the collateral pool,
and the term of facility.


J.M. HUBER: S&P Rates Sr. Unsecured Credit Facilities BB+
---------------------------------------------------------
Standard & Poor's Ratings Services on Feb. 17, 2016, assigned its
'BB+' issue-level and '3' recovery ratings to J.M. Huber Corp.'s
senior unsecured credit facilities.

The company's credit facilities consist of a $300 million
U.S.-dollar-denominated revolving credit facility and $360 million
U.S.-dollar-denominated term loan A facility, a $200 million
incremental term loan A-1 facility, and a $220 million delayed draw
incremental term loan A-2 facility.

The '3' recovery rating assigned to each facility, indicates our
expectation of meaningful recovery (upper half of the 50% to 70%
range) in the event of a payment default.

Based on terms and conditions, S&P assumes that the company will
use the delayed draw incremental term loan A-2 facility for the
express purposes of paying down existing senior notes as they
become due.

The ratings reflect J.M. Huber Corp.'s fair business risk profile
and intermediate financial risk profile. This combination of scores
map to a 'bb+' anchor score. There are no modifiers that affect the
anchor score and the resulting stand-alone credit profile score is
'bb+'.

RATINGS LIST

J.M. Huber Corp.
Corporate credit rating                         BB+/Stable/--

New Ratings
J.M. Huber Corp.
Senior Unsecured
$300 mil U.S.-dollar-denom revolver            BB+
  Recovery rating                               3H
$360 mil U.S.-dollar-denom term loan A         BB+
  Recovery rating                               3H
$200 mil incremental term loan A-1              BB+
  Recovery rating                               3H
$220 mil delayed draw term loan A-2            BB+
  Recovery rating                               3H


KALOBIOS PHARMACEUTICALS: Faces Fire for Employee Bonus Plan
------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that investors suing
KaloBios, which hit Chapter 11 weeks after its ousted CEO Martin
Shkreli was charged with securities fraud, took aim on Feb. 9,
2016, at the embattled drug developer's employee bonus plan,
arguing it's unnecessary for a company with uncertain prospects for
any future revenues.  In an objection before the Delaware
bankruptcy court, the investors -- Cayman Islands-based Armistice
Capital Master Fund, RTAT LLC and several individuals -- argued
that the $378,000 in bonuses slated for its eight-person staff
doesn't make sense.

                 About KaloBios Pharmaceuticals

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

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

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

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


KGIC INC: Enters Into Amended Forbearance Agreement with BMO
------------------------------------------------------------
KGIC Inc. on Feb. 17 provided an update to shareholders on the
following key matters affecting the Company:

The Company has entered into an amended and restated forbearance
agreement with the Bank of Montreal ("BMO"), a copy of which is
available on SEDAR at www.sedar.com (the "Amended Forbearance
Agreement").  The Amended Forbearance Agreement requires the
Company to exercise all avenues of liquidity in order to meet its
obligations to BMO.  In connection therewith, the board of
directors of the Company has initiated a review of strategic
alternatives to determine the best course to satisfy the Company's
obligations under the Amended Forbearance Agreement and to enhance
the Company's value. G.S. MacLeod & Associates Inc. has been
retained to act as exclusive financial advisor to the Company in
connection therewith. Strategic alternatives could include a
reorganization of capital or the sale of all or some of the assets
of the Company.  There can be no assurance that this strategic
review process will result in the completion of any transaction or
other alternative.  The Company does not intend to comment further
regarding the review process unless a specific transaction or other
alternative is approved by the board of directors, the review
process is concluded or it is otherwise determined that further
disclosure is appropriate or required by law.  The Company will
continue to operate in the ordinary course during this review
process.

BMO has advised the Company that it is supportive of the Company's
approach in this regard.  In connection therewith, the Company has
entered into an amended and restated credit agreement with BMO, a
copy of which is available on SEDAR at www.sedar.com (the "Amended
Credit Agreement").  Under the terms of the Amended Credit
Agreement, BMO has agreed to provide the Company with a
discretionary, non-revolving demand credit facility in the amount
of up to $3,000,000 (the "Facility").  Each advance under the
Facility is at the discretion of BMO.  The Facility may be used by
the Company only for working capital and general corporate
purposes.  Subject to the terms of the Amended Credit Agreement,
the Company shall only be entitled to obtain advances under the
Facility until April 22, 2016.  All advances will bear interest at
BMO's prime rate plus 3.75% per annum.

The Company has elected to not proceed with its previously
announced preferred share offering and will instead explore the
possibility of a debt offering as part of the strategic review
process noted above.  There can be no assurance that any such
offering will be completed.

The Company has made a continued effort to stabilize its school
campuses and improve on reporting and operating standards and
enrollment.

                        About KGIC Inc.

KGIC owns and operates private English as a Second Language (ESL)
Schools, Career Colleges and Community Colleges in Toronto,
Vancouver and Victoria.


KU6 MEDIA: Fails to Regain NASDAQ Listing Rules Compliance
----------------------------------------------------------
Ku6 Media Co., Ltd., an internet video company focused on User
Generated Content in China, on Feb. 16 disclosed that it has
received a determination letter from The NASDAQ Stock Market LLC
("NASDAQ") dated February 10, 2016, indicating that the Company has
failed to regain compliance with the US$50,000,000 minimum market
value requirement under NASDAQ Listing Rule 5450(b)(2)(A) (the
"MVLS Rule") and the US$15,000,000 minimum market value of publicly
held securities requirement under NASDAQ Listing Rule 5450(b)(2)(C)
(the "MVPHS Rule").  The Company was first notified by NASDAQ that
it failed to comply with the MVLS Rule and the MVPHS Rule on August
13, 2015.  In accordance with NASDAQ Listing Rules 5810(c)(3)(C)
and 5810(c)(3)(D), the Company was provided 180 calendar days, or
until February 9, 2016, to regain compliance with the MVLS Rule and
the MVPHS Rule.

NASDAQ has indicated that the Company's American Depositary Shares
will be delisted from The Nasdaq Global Market unless the Company
appeals NASDAQ's determination to a Hearing Panel.  The Company
intends to request a hearing to appeal NASDAQ's determination.  If
the Company appeals NASDAQ's determination, the Company's American
Depositary Shares will continue to trade on The Nasdaq Global
Market during the appeal process.  There is no assurance that the
Hearing Panel will grant the Company's request for continued
listing.

               About Ku6 Media Co., Ltd.

Ku6 Media Co., Ltd. (KUTV) -- http://ir.ku6.com-- is an internet
video company in China focused on User Generated Content ("UGC").
Through its premier online brand and online video website,
www.ku6.com, Ku6 Media provides online video uploading and sharing
services, video reports, information and entertainment in China.


LA CASA DE LA RAZA: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: La Casa de la Raza, Inc.
        601 E Montecito St
        Santa Barbara, CA 93103

Case No.: 16-10283

Chapter 11 Petition Date: February 17, 2016

Court: United States Bankruptcy Court
       Central District of California (Santa Barbara)

Judge: Hon. Peter Carroll

Debtor's Counsel: Matthew M Clarke, Esq.
                  CHRISTMAN, KELLEY & CLARKE PC
                  1334 Anacapa St
                  Santa Barbara, CA 93101
                  Tel: 805-884-9922
                  Fax: 866-611-9852
                  Email: matt@christmankelley.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Marisela Marquez, chief executive
officer.

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


LEE STEEL: Committee Seeks Approval for ArcelorMittal Settlement
----------------------------------------------------------------
Lee Steel Corp.'s official committee of unsecured creditors has
filed a motion seeking court approval for a deal that would resolve
its dispute with ArcelorMittal USA LLC over money it received from
the steel maker.

The company received a total of $184,385 from Lee Steel prior to
the steel maker's bankruptcy filing, which the committee says is
"avoidable" under U.S. bankruptcy law.

Avoidance actions are typically brought against corporations or
individuals who have received payments from a debtor within 90 days
of the filing.  

ArcelorMittal refused to pay back the money it received and filed a
$361,057 claim against the steel maker, according to court
filings.

To avoid litigation, the companies entered into a settlement under
which ArcelorMittal will get a $77,454 administrative claim, down
from the $103,272 administrative claim it originally wanted.  The
company will also get a $283,603 unsecured claim against the steel
maker.

The administrative claim will be paid pursuant to Lee Steel's
liquidating plan, according to court filings.

                    About Lee Steel Corporation

Novi, Michigan-based Lee Steel Corp., provides flat rolled steel,
including hot rolled steel, cold rolled steel, and exposed coated
products for automotive and other manufacturing industries.

Lee Steel and 2 affiliated companies -- Taylor Industrial
Properties, L.L.C., and 4L Ventures, LLC -- filed for separate
bankruptcy protection (Bankr. D. Del. Case No. 15-45784) on April
13, 2015.

The Hon. Marci B. McIvor presides over the cases. Joshua A.
Gadharf, Esq., at McDonald Hopkins PLC, represents the Debtor.
Huron Business Advisory, serves as financial advisor; and Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lee Steel disclosed $63,206,282 in total assets and $62,659,806 in
total liabilities.

Hilco Global has purchased the steel processing facility located at
the Lee Steel Corporation site in Romulus, Michigan. The deal which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site. The sale is expected to close in mid-September.

The U.S. Trustee for Region 9 appointed three creditors to serve on
the official committee of unsecured creditors. Conway Mackenzie,
Inc. serves as its financial advisor.

                           *     *     *

The Debtors sold their steel processing facility located in
Romulus, Michigan, to Hilco Global for $14 million.  The deal which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site.

Union Partners I, LLC, won an auction for the Debtors' Wyoming
facility and working capital assets with a $23.6 million offer.
Effective Sept. 18, 2015, the sale to Union Partners closed, and
the Debtors ceased operations and commenced the process of winding
down their affairs.  The Debtors changed their names to LSC
Liquidation Inc., et al., following the sale.


LEHMAN BROTHERS: Tells 2nd Circ. Treaty Entitles It to Tax Credits
------------------------------------------------------------------
Hannah Sheehan at Bankruptcy Law360 reported that defunct
investment bank Lehman Brothers Holding Inc. told the Second
Circuit on Feb. 16, 2016, that its bankruptcy administrators are
entitled to $67 million in foreign tax credits under the terms of a
1975 U.S-U.K. income tax treaty favoring newly enacted legislation.
Lehman argued that a New York federal judge wrongly denied the
credits for U.K. withholding taxes, saying a section of the U.S.
tax code trumps the bilateral agreement, according to the treaty's
"last-in-time" rule.

                     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.


LIFE PARTNERS: Investors Say Trustee Derailing Chapter 11 Plan
--------------------------------------------------------------
Kali Hays at Bankruptcy Law360 reported that multiple creditors of
Life Partners Holdings Inc. on Feb. 8, 2016, came out against its
current Chapter 11 reorganization plan, with one informal group of
investors telling a Texas bankruptcy court the estate trustee
essentially forced their objection by insisting that he be
appointed to control several trusts proposed in the plan.  The
creditor group is composed of smaller-scale investors in Life
Partners, which acquires unneeded life insurance policies and sells
fractional interests back to investors.

                    About Life Partners

Headquartered in Waco, Texas, Life Partners Holdings, Inc. --
http://www.lphi.com/-- is the parent company engaged in the      
secondary market for life insurance, commonly called "life
settlements."  Since its incorporation in 1991, Life Partners,
Inc. has completed over 162,000 transactions for its worldwide
client base of over 30,000 high net worth individuals and
institutions in connection with the purchase of over 6,500
policies totaling over $3.2 billion in face value.

LPHI is a publicly traded company incorporated in Texas and its
common stock has been delisted from the NASDAQ (formerly trading
under the symbol LPHI).

Life Partners Holdings sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 15-40289) on Jan. 20,
2015.

The case is assigned to Judge Russell F. Nelms.  J. Robert
Forshey, Esq., at Forshey & Prostok, LLP, serves as counsel to the
Debtor.

LPHI disclosed $2,406,137 in assets and $52,722,308 in liabilities
as of the Chapter 11 filing.

The official committee of unsecured creditors formed in the case
tapped Munsch Hardt Kopf & Harr, P.C., as counsel.

Tracy A. Bolt of BDO USA, LLP was named as examiner for the
Debtor's case.  At the behest of the U.S. Securities and Exchange
Commission, the U.S. Trustee, and the Creditors Committee, the
Court ordered the appointment of a Chapter 11 trustee.  On March
13, 2015, H. Thomas Moran II was appointed as Chapter 11 trustee
in LPHI's case.  The trustee is represented by Thompson & Knight
LLP.

The Chapter 11 trustee signed Chapter 11 bankruptcy petitions for
LPHI's subsidiaries on May 19, 2015: Life Partners Inc. (Case No.
15-41995) and LPI Financial Services, Inc. (Case No. 15-41996).

Life Partners is estimated to have $100 million to $500 million in
assets and more than $1 billion in debt.  LPI Financial estimated
less than $50,000.


LONESTAR GEOPHYSICAL: Court Strikes Hearing on Plan Confirmation
----------------------------------------------------------------
A U.S. bankruptcy judge signed off on an order striking the hearing
on Lonestar Geophysical Survey LLC's restructuring plan set for
Feb. 23.

Judge Sara Hall approved the application of Lonestar to strike the
hearing to allow the company to revise its proposed Chapter 11 plan
of reorganization.

The plan needs revision after Heath Harris, president of LoneStar
who owns 75.1% membership interests in the company, filed a Chapter
7 case.  His interests are now owned by a trustee.

The U.S. Bankruptcy Court for the Western District of Oklahoma had
also denied the company's motion in which it sought summary
judgment determining that Cypress Springs Investments LP's and
Cypress Springs Associates LLC's membership interests in the
company were being held for collateral purposes only under Oklahoma
law.

The ruling will require LoneStar to revise the plan to reflect the
ownership as determined by the court, according to court filings.

CSI owned 22.4% of membership interests in the company while CSA
owned 2.5% when the plan was filed.

Lonestar's current restructuring plan proposes to pay claims in
full.  Under the plan, Frontier State Bank's secured claim will be
paid in full and the bank will retain its security interests.
Holders of unsecured non-insider and insider claims will also get
full payments.  

Meanwhile, equity interests will be cancelled.  All member
interests in the reorganized company will then be owned by Mr.
Harris.

                   About LoneStar Geophysical

LoneStar Geophysical Surveys, LLC, is in the business of acquiring
seismic data for the oil and gas industry.  It owns a fleet of 13
state-of-the-art vibes (vibrators that generate seismic waves) and
a commensurately large inventory of wireless nodes (that receive
those seismic waves and transmit the resulting information for
processing and interpretation).  LoneStar was formed as an Oklahoma
limited liability company on August 4, 2009, by Heath Harris who
continues to serve as its manager.

LoneStar Geophysical sought Chapter 11 bankruptcy protection
(Bankr. W.D. Okla. Case No. 15-11872) on May 18, 2015.  The Debtor
disclosed total assets of $21,643,793 and total liabilities of
$12,311,768 in its amended schedules.

Judge Hon. Sarah A. Hall presides over the case.  The Debtor tapped
Ross A. Plourde, Esq., at McAfee & Taft, as counsel.


MAGNETATION LLC: To Pay Back Overtime, Company Official Says
------------------------------------------------------------
John Myers, writing for Duluth News Tribune, reports that Matt
Lehtinen, president of Magnetation, said in a statement they will
work to repay hundreds of thousands of dollars in back overtime to
employees because of a misinterpretation of overtime regulations.

The report notes Local 49 of the International Union of Operating
Engineers had accused the company of not paying overtime on a
portion of employee wages that were paid in a bonus based on plant
production.

"We spoke with Glen Johnson of the 49ers late [Wednesday] and have
resolved the misunderstanding. Magnetation prides itself on being
the highest paying mine on the Iron Range," Mr. Lehtinen said. "As
soon as we became aware of the issue, we have corrected the error
in overtime calculation. Back pay amounts are being determined and
will be paid subject to restrictions imposed by the ongoing
bankruptcy case."

Exactly when the money might be available remains unclear, the
report adds.

Magnetation has closed two of its three plants in the face of the
U.S. steel industry downturn.  The payments are subject to
bankruptcy court approval.

                     About Magnetation LLC

Magnetation LLC -- http://www.magnetation.com/-- is a joint  
venture between Magnetation, Inc. (50.1% owner) and AK Iron
Resources, LLC, an affiliate of AK Steel Corporation (49.9%
owner).

Magnetation LLC recovers high-quality iron ore concentrate from
previously abandoned iron ore waste stockpiles and tailings
basins.

Magnetation LLC owns iron ore concentrate plants located in
Keewatin, MN, Bovey, MN and Grand Rapids, MN, and an iron ore
pellet plant in Reynolds, IN.  

Magnetation LLC and four subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Minn. Lead Case No. 15-50307) in Duluth,
Minnesota, on May 5, 2015, after reaching a deal with secured
noteholders on a balance sheet restructuring.  The cases are
assigned to Chief Judge Gregory F Kishel.

The Debtors have tapped Davis Polk & Wardwell LLP and Lapp, Libra,
Thomson, Stoebner & Pusch, Chtd., as attorneys; Blackstone
Advisory
Partners LP as financial advisor; and Donlin, Recano & Company,
Inc., as the claims agent.

The Debtor's exclusive period for filing a plan and disclosure
statement ends Sept. 2, 2015.

The U.S. Trustee for Region 12 appointed three creditors of
Magnetation LLC to serve on an official committee of unsecured
creditors.


MAGNUM HUNTER: March 21 Set as Administrative Claims Bar Date
-------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware established
March 21, 2016, at 5:00 p.m., as the deadline to file requests for
allowance of certain administrative claims against Magnum Hunter
Resources Corporation, et al.

The bar date is for administrative claims incurred from the
Petition Date to March 7, 2016.

Proofs of claim must be submitted to the Debtors' claims and
noticing agent:

         Magnum Hunter Resources Corporation Processing Center
         c/o Prime Clerrk LLC
         830 Third Avenue, 3rd Floor
         New York, NY 10022

                        About Magnum Hunter

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

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

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

As of Sept. 30, 2015, the Debtors reported approximately $1.1
billion in total liabilities, as well as $416.3 million in stated
value of preferred stock.  The Debtors' significant funded debt
obligations include: (a) approximately $70 million in principal
amount of obligations under the Debtors' Bridge Financing Facility;

(b) approximately $336.6 million in principal amount of obligations

under the Debtors' second lien credit agreement; (c) approximately

$13.2 million in principal amount of Equipment and Real Estate
Notes;
and (d) approximately $600 million in principal amount of Notes.


MAKWA BUILDERS: Everguard's Claim Allowed as Contingent Claim
-------------------------------------------------------------
Judge Robert H. Jacobvitz of the United States Bankruptcy Court for
the District of New Mexico sustained in part and overruled in part
Makwa Builders, LLC's objection to Claim Nos. 7-1 and 27-1 filed by
Everguard Roofing, LLC.

On November 16, 2012, Everguard filed a proof of claim ("Proof of
Claim 7-1") in the amount of $66,710.63, specifying "breach of
contract" as the basis for its claim.  On March 12, 2013, Everguard
filed an amendment to its proof of claim ("Proof of Claim 27-1"),
increasing its unsecured nonpriority claim to $76,357.90.  The
amendment stated that the basis of the claim is "construction work
at NMHU Student Union," and asserted an entitlement to a fixed rate
of 18% per annum interest.

Makwa timely objected to Everguard's claim, asserting that it has
yet to receive payment from New Mexico Highlands University
("NMHU") on account of the work that forms the basis of Everguard's
claim and that, pursuant to a pay-if-paid provision in its
subcontract agreement with Everguard, nothing is due to Everguard
unless and until NMHU pays Makwa on account of such work.

Judge Jacobvitz agreed with Makwa regarding the applicability of
the pay-if-paid clause in the subcontract.  The judge allowed
Everguard's claim as contingent because, pursuant to Sections 5.4.2
and 5.5.1 of the subcontract, whether and in what amount Makwa will
ultimately be obligated to pay Everguard depends on whether and in
what amount Makwa receives payent from NMHU on account of
Everguard's work.  Judge Jacobvitz ordered that Everguard's claim
be designated as a Class 6A claim under Makwa's plan of
reorganization.

Judge Jacobvitz, however, held that Everguard is not entitled to
interest on its claim under either the subcontract or New Mexico's
Prompt Pay Act, nor to an award of attorney's fees.

The case is In re: MAKWA BUILDERS, LLC, Debtor, Case No. 12-13664
(Bankr. D.N.M.).

A full-text copy of Judge Jacobvitz's February 4, 2016 memorandum
opinion and order is available at http://is.gd/43CBqgfrom
Leagle.com.

Makwa Builders, LLC is represented by:

          Robert J Berens, Esq.
          Adam Davis Melton, Esq.
          LANGLEY LLP
          901 Main St., Suite 600
          Dallas, TX 75202
          Tel: (214)722-7160
          Fax: (214)722-7161

            -- and --

          Shay E Meagle, Esq.
          MEAGLE LAW, P.A.
          6500 Jefferson St. NE Ste. 260
          Albuquerque, NM 87109-3490
          Tel: (505)255-0202
          Fax: (505)503-7641

            -- and --

          Louis Puccini, Jr., Esq.
          PUCCINI LAW
          8015 Mountain Road Place N.E.
          Albuquerque, NM 87110
          Tel: (505)255-0202
          Fax: (505)255-8726

Everguard Roofing, LLC is represented by:

          Lillian G Apodaca, Esq.
          BINGHAM, HURST & APODACA, PC
          2420 Comanche Rd., NE, Ste. H-6
          Albuquerque, NM 87107
          Tel: (505)881-4545
          Fax: (505)889-0988

            -- and --

          Bonnie P. Bassan, Esq.
          MOORE, BERKSON, BASSAN & BEHLES P.C.
          3800 Osuna Road, NE, Ste. 2
          Albuquerque, NM 87109
          Tel: (505)242-1218
          Email: bbg11usc@swcp.com

United States Trustee is represented by:

          Alice Nystel Page, Esq.
          OFFICE OF THE US TRUSTEE
          421 Gold Avenue SE, Rm 112
          Albuquerque, NM 87103-0608
          Tel: (505)248-6550

Stephen D. Hoffman is represented by:

          Stephen D Hoffman, Esq.
          LEWIS BRISBOIS BISGAARD & SMITH, LLP
          2929 North Central Avenue, Suite 1700
          Phoenix, AZ 85012-2761
          Tel: (602)385-1040
          Fax: (602)385-1051
          Email: stephen.hoffman@lewisbrisbois.com


MEDICURE INC: Elliott International No Longer a Shareholder
-----------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Elliott International, L.P. and Elliott International
Capital Advisors Inc. disclosed that as of Dec. 31, 2015, they have
ceased to beneficially own shares of common stock of Medicure Inc.
A copy of the regulatory filing is available for free at:

                       http://is.gd/VKWPN3

                       About Medicure Inc.

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

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

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


MGM RESORTS: Capital Research Reports 5.6% Stake as of Dec. 31
--------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Capital Research Global Investors disclosed that as of
Dec. 31, 2015, it beneficially owns 31,832,000 shares of common
stock of MGM Resorts International representing 5.6 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/SyaOyd

                         About MGM Resorts

MGM Resorts International (NYSE: MGM) a global hospitality
company, operating a portfolio of destination resort brands
including Bellagio, MGM Grand, Mandalay Bay and The Mirage.  The
Company also owns 51% of MGM China Holdings Limited, which owns
the MGM Macau resort and casino and is in the process of
developing a gaming resort in Cotai, and 50% of CityCenter in Las
Vegas, which features ARIA resort and casino.  For more
information about MGM Resorts International, visit the Company's
Web site at www.mgmresorts.com.

MGM Resorts reported a net loss attributable to the Company of
$156.60 million in 2013 following a net loss attributable to the
Company of $1.76 billion in 2012.

As of June 30, 2015, the Company had $27.1 billion in total assets,
$17.9 billion in total liabilities, $5 million in redeemable
noncontrolling interest and $9.1 billion in total stockholders'
equity.

                         Bankruptcy Warning

The Company stated in its 2013 Annual Report, "The agreements
governing our senior secured credit facility and other senior
indebtedness contain restrictions and limitations that could
significantly affect our ability to operate our business, as well
as significantly affect our liquidity, and therefore could
adversely affect our results of operations.  Covenants governing
our senior secured credit facility and certain of our debt
securities restrict, among other things, our ability to:

   * pay dividends or distributions, repurchase or issue equity,
     prepay certain debt or make certain investments;

   * incur additional debt;

   * incur liens on assets;

   * sell assets or consolidate with another company or sell all
     or substantially all assets;

   * enter into transactions with affiliates;

   * allow certain subsidiaries to transfer assets; and

   * enter into sale and lease-back transactions.

Our ability to comply with these provisions may be affected by
events beyond our control.  The breach of any such covenants or
obligations not otherwise waived or cured could result in a
default under the applicable debt obligations and could trigger
acceleration of those obligations, which in turn could trigger
cross defaults under other agreements governing our long-term
indebtedness.  Any default under our senior secured credit
facility or the indentures governing our other debt could
adversely affect our growth, our financial condition, our results
of operations and our ability to make payments on our debt, and
could force us to seek protection under the bankruptcy laws."

                           *     *     *

As reported by the TCR on Nov. 14, 2011, Standard & Poor's Ratings
Services raised its corporate credit rating on MGM Resorts
International to 'B-' from 'CCC+'.   In March 2012, S&P revised
the outlook to positive from stable.

"The revision of our rating outlook to positive reflects strong
performance in 2011 and our expectation that MGM will continue to
benefit from the improving performance trends on the Las Vegas
Strip," S&P said.

In March 2012, Moody's Investors Service affirmed its B2 corporate
family rating and probability of default rating.  The affirmation
of MGM's B2 Corporate Family Rating reflects Moody's view that
positive lodging trends in Las Vegas will continue through 2012
which will help improve MGM's leverage and coverage metrics,
albeit modestly. Additionally, the company's declaration of a $400
million dividend ($204 million to MGM) from its 51% owned Macau
joint venture due to be paid shortly will also improve the
company's liquidity profile. The ratings also consider MGM's
recent bank amendment that resulted in about 50% of its
$3.5 billion senior credit facility being extended one year from
2014 to 2015.

As reported by the TCR on Sept. 29, 2014, Fitch Ratings has
upgraded MGM Resorts International's (MGM) and MGM China Holdings
Ltd's (MGM China) IDRs to 'B+' from 'B' and 'BB' from 'BB-',
respectively.  Fitch's upgrade of MGM's IDR to 'B+' and the
Positive Outlook reflect the company's strong performance on the
Las Vegas Strip and in Macau as well as Fitch's longer-term
positive outlooks for these markets.


MGM RESORTS: Growth Fund of America Reports 6% Equity Stake
-----------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, The Growth Fund of America reported that as of
Dec. 31, 2015, it beneficially owns 33,685,244 shares of common
stock of MGM Resorts International representing 6 percent of the
shares outstanding.  A copy of the regulatory filing is available
for free at http://is.gd/D3VM16

                         About MGM Resorts

MGM Resorts International (NYSE: MGM) a global hospitality
company, operating a portfolio of destination resort brands
including Bellagio, MGM Grand, Mandalay Bay and The Mirage.  The
Company also owns 51% of MGM China Holdings Limited, which owns
the MGM Macau resort and casino and is in the process of
developing a gaming resort in Cotai, and 50% of CityCenter in Las
Vegas, which features ARIA resort and casino.  For more
information about MGM Resorts International, visit the Company's
Web site at www.mgmresorts.com.

MGM Resorts reported a net loss attributable to the Company of
$156.60 million in 2013 following a net loss attributable to the
Company of $1.76 billion in 2012.

As of June 30, 2015, the Company had $27.1 billion in total assets,
$17.9 billion in total liabilities, $5 million in redeemable
noncontrolling interest and $9.1 billion in total stockholders'
equity.

                         Bankruptcy Warning

The Company stated in its 2013 Annual Report, "The agreements
governing our senior secured credit facility and other senior
indebtedness contain restrictions and limitations that could
significantly affect our ability to operate our business, as well
as significantly affect our liquidity, and therefore could
adversely affect our results of operations.  Covenants governing
our senior secured credit facility and certain of our debt
securities restrict, among other things, our ability to:

   * pay dividends or distributions, repurchase or issue equity,
     prepay certain debt or make certain investments;

   * incur additional debt;

   * incur liens on assets;

   * sell assets or consolidate with another company or sell all
     or substantially all assets;

   * enter into transactions with affiliates;

   * allow certain subsidiaries to transfer assets; and

   * enter into sale and lease-back transactions.

Our ability to comply with these provisions may be affected by
events beyond our control.  The breach of any such covenants or
obligations not otherwise waived or cured could result in a
default under the applicable debt obligations and could trigger
acceleration of those obligations, which in turn could trigger
cross defaults under other agreements governing our long-term
indebtedness.  Any default under our senior secured credit
facility or the indentures governing our other debt could
adversely affect our growth, our financial condition, our results
of operations and our ability to make payments on our debt, and
could force us to seek protection under the bankruptcy laws."

                           *     *     *

As reported by the TCR on Nov. 14, 2011, Standard & Poor's Ratings
Services raised its corporate credit rating on MGM Resorts
International to 'B-' from 'CCC+'.   In March 2012, S&P revised
the outlook to positive from stable.

"The revision of our rating outlook to positive reflects strong
performance in 2011 and our expectation that MGM will continue to
benefit from the improving performance trends on the Las Vegas
Strip," S&P said.

In March 2012, Moody's Investors Service affirmed its B2 corporate
family rating and probability of default rating.  The affirmation
of MGM's B2 Corporate Family Rating reflects Moody's view that
positive lodging trends in Las Vegas will continue through 2012
which will help improve MGM's leverage and coverage metrics,
albeit modestly. Additionally, the company's declaration of a $400
million dividend ($204 million to MGM) from its 51% owned Macau
joint venture due to be paid shortly will also improve the
company's liquidity profile. The ratings also consider MGM's
recent bank amendment that resulted in about 50% of its
$3.5 billion senior credit facility being extended one year from
2014 to 2015.

As reported by the TCR on Sept. 29, 2014, Fitch Ratings has
upgraded MGM Resorts International's (MGM) and MGM China Holdings
Ltd's (MGM China) IDRs to 'B+' from 'B' and 'BB' from 'BB-',
respectively.  Fitch's upgrade of MGM's IDR to 'B+' and the
Positive Outlook reflect the company's strong performance on the
Las Vegas Strip and in Macau as well as Fitch's longer-term
positive outlooks for these markets.


MICHIGAN POWER: S&P Assigns 'BB+' to Term Loan & Revolver Debt
--------------------------------------------------------------
Standard & Poor's Ratings Services said it assigned its 'BB+'
rating to Michigan Power L.P.'s $216 million term loan due 2022 and
$47 million revolving credit facility due 2020. The outlook is
stable. S&P also assigned its '1' recovery rating to the term loan
and credit facility, indicating expectations for very high (90% to
100%) recovery under a default scenario.

Michigan Power is a limited-purpose entity that owns a gas-fired
power plant located in Ludington, Mich. Sponsor Rockland Capital
intends to raise $216 million with a term loan to help finance its
purchase of Michigan Power from the previous owner, Arclight
Capital. The term loan, along with $72 million in equity, will
be used to acquire Michigan Power, pay fees associated with the
transaction, and fund working capital and maintenance reserves.

"The operations phase business risk reflects the inherent operating
risk associated with Michigan Power's power plant asset, good
operating track record diversity, low exposure to market risk, and
relatively aggressive financial leverage," said Standard & Poor's
credit analyst Geoffrey Mrema.

The stable outlook reflects S&P's expectations that Michigan Power
will continue to operate at high availability and perform in line
with past performance.

S&P could lower the ratings if significant underperformance causes
minimum consolidated DSCRs to decline below 1.6x. A significant
outage or higher O&M expenses could lead to these weaker ratios.
DSCRs could also decline if energy
payments under the power purchase agreement decline due to O&M
costs at Consumers Energy not increasing as fast as S&P predicted.

A rating upgrade is possible if Michigan Power has excellent
operational performance and earns higher-than-expected energy
payments due to high costs of environmental compliance for
Consumers Energy's coal fleet. S&P could consider an upgrade if
minimum DSCR levels improve to above 2.25x on a sustainable basis.


MOLYCORP INC: Del. Judge OKs New Oaktree Depositions for Trial
--------------------------------------------------------------
Jeff Montgomery at Bankruptcy Law360 reported that a Delaware
bankruptcy judge declined on Feb. 17, 2016, to shield two senior
Oaktree Capital Management LP officials from questioning about the
company's role in Molycorp Inc.'s business before and after its
$1.9 billion Chapter 11 filing, turning aside objections about
excessive pre-trial deposition requests.

Judge Christopher S. Sontchi ruled that portfolio managers Robert
O'Leary and Edgar Lee could have information relevant to an
upcoming bankruptcy trial focused on Oaktree's lending to Molycorp
and financing terms.  The trial's focus includes allegations of a
private equity "loan to own" strategy.

                       About Molycorp, Inc.

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare      

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

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

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

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

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

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

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

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

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

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

                            *     *     *

The U.S. Bankruptcy Court for the District of Delaware will
convene a hearing to consideration confirmation of Molycorp, Inc.,
et
al.'s Plan, including the approval of the sale of substantially all
of
the Debtors' assets pursuant to the Plan, on March 28, 2016, 10:00
a.m., Eastern Time.

Judge Christopher Sontchi in Delaware approved the disclosure
statement explaining the Debtors' Plan on Jan. 20, 2015, after the
Debtors revised the Disclosure Statement to incorporate certain
modifications directed by the Court during the Jan. 14 hearing.

The Plan contemplates two possible outcomes: (1) the sale of
substantially all of the Debtors' assets if certain conditions set
forth in the Plan are satisfied and (2) (a) the sale of the assets
associated with the Debtors' Mountain Pass mining facility in San
Bernardino County, California; and (b) the stand-alone
reorganization around the Debtors' other three business units.


MOTORS LIQUIDATION: New GM Says Mistake Doesn't Allow Crash Claims
------------------------------------------------------------------
Joe Van Acker at Bankruptcy Law360 reported that the
post-bankruptcy iteration of General Motors known as New GM claimed
in New York federal court on Feb. 9, 2016, that a bankruptcy judge
erred by allowing a man to sue the company for a fatal accident
that occurred before it took over for its now-defunct predecessor,
Old GM, based on a mistaken reference.  New GM, officially known as
General Motors LLC, said that it accidentally cited an early
version of the sale agreement between the two entities in a
footnote when it responded to a complaint.

                     About Motors Liquidation

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

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

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

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

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


MUSCLEPHARM CORP: Inks Employment Pact with Executive Chairman
--------------------------------------------------------------
MusclePharm Corporation and Ryan Drexler entered into an employment
agreement setting forth the terms of Mr. Drexler's employment as
executive chairman of the Company, according to a Form 8-K report
filed with the Securities and Exchange Commission.  The Employment
Agreement was approved by the Compensation Committee of the
Company's Board of Directors and, upon the recommendation of the
Compensation Committee, the Board.

Pursuant to the terms of the Employment Agreement, Mr. Drexler will
initially receive an annual base salary of $550,000, subject to
annual adjustment by the Board.  With respect to services since Mr.
Drexler's start date of Aug. 26, 2015 (and in lieu of any other
Base Salary for 2015), Mr. Drexler will be paid $250,000 on March
1, 2016.  During his employment, Mr. Drexler will be eligible for
certain target incentive bonuses, including an annual bonus of up
to 200% of his base salary upon the achievement of certain
performance targets, and a transaction bonus for certain qualifying
business combinations.  Mr. Drexler will also receive a grant of
options to purchase shares of the Company's common stock valued at
$250,000.  Mr. Drexler will also be eligible for equity grants
available to the Company's management under its incentive plan.

The term of the Employment Agreement is for a three year period
commencing Feb. 10, 2016, after which the Employment Agreement
shall be automatically renewed for successive one year periods
unless terminated by either party with at least three months'
written notice prior to the expiration of the initial term or any
renewal term.

Mr. Drexler's bonuses and any and all stock-based compensation will
be subject to certain clawback rights as follows: during the period
that Mr. Drexler's is employed by the Company, upon his termination
and for a period of three years thereafter, if there is a
restatement of any Company financial results from which any
Clawback Benefits will have been determined, Mr. Drexler will repay
any amounts which were determined by reference to any Company
financial results which were later restated, to the extent the
Clawback Benefits amounts paid exceed the Clawback Benefits amounts
that would have been paid, based on the restatement of the
Company's financial information.

                       About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm Corporation reported a net loss of $13.8 million in
2014, a net loss of $17.7 million in 2013 and a net loss of $19
million in 2012.

As of Sept. 30, 2015, the Company had $62.2 million in total
assets, $67.8 million in total liabilities and a $5.54 million
total stockholders' deficit.


NAVISTAR INTERNATIONAL: Discovery Capital No Longer Holds Shares
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Discovery Capital Management, LLC and Robert K. Citrone
diclosed that as of Dec. 31, 2015, they have ceased to be the
beneficial owner of shares of common stock of Navistar
International Corporation.  A copy of the regulatory filing is
available for free at http://is.gd/8uThrQ

                   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.


NEOMEDIA TECHNOLOGIES: Suspending Filing of Reports with SEC
------------------------------------------------------------
Neomedia Technologies, Inc., filed a Form 15 with the Securities
and Exchange Commission relating to the termination of registration
of the Company's common stock, no par value per share, under
Section 12(g) of the Securities Exchange Act of 1934.  As of Feb.
16, 2016, there were 287 holders of record of the Common Shares.
As a result of the Form 15 filing, the Company is not anymore
obligated to file periodic reports with the SEC.

                   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.


NEUROLOGIX INC: Medtronic Reports 7.3% Stake as of Jan. 26
----------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Medtronic plc, Medtronic, Inc. and Medtronic
International, Ltd. disclosed that as of Jan. 26, 2015, they
beneficially own 2,036,171 shares of common stock of Neurologix,
Inc. representing 7.3 percent based on a total of 27,997,701 shares
of Common Stock outstanding as of Aug. 8, 2011, as reported by the
Issuer on its Form 10-Q filed on Aug. 11, 2011.  A copy of the
regulatory filing is available at http://is.gd/aQf09Z

                     About Neurologix, Inc.

Fort Lee, N.J.-based Neurologix, Inc. (OTC Bulletin Board: NRGX)
-- http://www.neurologix.net/-- is a clinical-stage biotechnology
company dedicated to the discovery, development, and
commercialization of gene transfer therapies for serious disorders
of the brain and the central nervous system.  The Company's
current programs address such conditions as Parkinson's disease,
epilepsy, depression and Huntington's disease, all of which are
large markets not adequately served by current therapeutic
options.

The Company reported a net loss of $10.16 million on $0 of revenue
for the year ended Dec. 31, 2010, compared with a net loss of
$13.46 million on $0 of revenue during the prior year.

The Company's balance sheet at June 30, 2011, showed $4.96 million
in total assets, $13.62 million in total liabilities, and a
$8.66 million total stockholders' deficit.

BDO USA, LLP, in New York, raised substantial doubt about the
Company's ability to continue as a going concern in its report on
the consolidated financial statements for the year ended Dec. 31,
2010.  BDO noted that the Company has suffered recurring losses
from operations, expects to incur future losses for the foreseeable
future and has deficiencies in working capital and capital.


NORTH AMERICAN HEALTH: Court Approves Mediation of Tort Claims
--------------------------------------------------------------
North American Health Care, Inc., and Carmichael Care, Inc., filed
a motion for an order approving and adopting their Tort Claim
Resolution Proposal filed June 12, 2015.

The TCRP provides for the mediation of each of the six personal
injury/wrongful death tort claims subject to the TCRP, followed by
the Court's estimation of any claim unresolved through mediation.
Should estimation be required, the Debtors have asked the Court to
estimate the claims individually for purposes of voting and
distribution.

The Debtors filed chapter 11 petitions on February 6, 2015. They
allege that their bankruptcy filings were necessitated by what they
describe as a "barrage" of tort claim lawsuits filed against them,
sounding in elder abuse, wrongful death, infliction of mental
distress and other causes of action. The Debtors complain that
despite the fact that they are providing "Five Star Care" to their
patients, they have been targeted by the plaintiffs' counsel and
have been relentlessly pursued because they are perceived to be
"deep pockets" for recovery.  The Debtors deny any liability with
respect to these lawsuits.

In a Memorandum Decision and Order dated February 5, 2016, which is
available at http://is.gd/BnQ0vTfrom Leagle.com, Judge Mark S.
Wallace of the United States Bankruptcy Court for the Central
District of California, Santa Ann Division, granted the motion in
part and denied it in part.

The Court approves the mediation component of the TCRP with the
modification that the Mediation Period will run for 120 days
following the date of entry of this Memorandum Decision and Order.


The Court disapproves that portion of the TCRP that estimates the
tort claims individually for purposes of distribution and instead
modifies the purpose and procedure for estimating the tort claims
subject to the TCRP that have not settled through mediation and
with respect to which no timely tort claimant election has been
made  as follows: (1) The Remaining Tort Claims will be estimated
in the aggregate for purposes of voting and plan confirmation only.
(2) Within 60 days after the tort claimants' election period (10
days after the end of the Mediation Period), Debtors shall file a
motion to estimate the Remaining Tort Claims in the aggregate. (3)
The Ad Hoc Group shall have 60 days after Debtors filed their
estimation motion to file an opposition thereto. (4) Debtors shall
have 15 days to file a reply. (5) 15 days after expiration of the
time for filing a reply, and as the Court's calendar would permit,
a hearing shall be held on Debtors' estimation motion after which
the Court will estimate the monetary amount of the Remaining Tort
Claims in the aggregate.

The cases are In re: North American Health Care, Inc., Chapter 11
Cases Debtor and Debtor in Possession. In re: Carmichael Care,
Inc., Debtor and Debtor in Possession, Case No. 8:15-bk-10612-MW,
Jointly administered with 8:15-bk-10610-MW (Bankr. C.D. Calif.).

North American Health Care, Inc., Debtor,  is represented by Krikor
J Meshefejian, Esq. -- kjm@lnbyb.com -- Levene Neale Bender Yoo &
Brill LLP, David L. Neale,  Esq. -- dln@lnbyb.com -- Levene Neale
Bender Yoo & Brill LLP.

United States Trustee (SA), U.S. Trustee, represented by Frank
Cadigan,

North American Health Care, Inc., is a nursing home headquartered
in Dana Point, California.  It operates more than 30 homes in
California and other Western states.  North American Health Care,
Inc., filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. C.D. Cal. Case No. 15-10610) on Feb. 6,
2015.  The
Hon. Mark S Wallace presides over the Chapter 11 case.  David L.
Neale, Esq., at Levene, Neale, Bender, Yoo & Brill LLP, serves as
counsel to the Debtor.  In its petition, the Debtor estimated $1
million to $10 million in both assets and liabilities.  The
petition was signed by John L. Sorensen, president and chief
executive officer.  A list of the Debtor's 15 largest unsecured
creditors is available for free at
http://bankrupt.com/misc/cacb15-10610.pdf


NVA HOLDINGS: Moody's Rates $100MM Incremental 1st Lien Loan 'B1'
-----------------------------------------------------------------
Moody's Investors Service assigned a B1 (LGD 3) rating to NVA
Holdings, Inc.'s ("NVA") proposed $100 million incremental senior
secured first lien term loan. NVA's B3 Corporate Family Rating,
B3-PD Probability of Default Rating, and B1 rating for the
company's existing senior secured first lien credit facilities,
including a $70 million revolver and first lien term loans, remain
unchanged. Also unchanged is the Caa2 rating for NVA's $160 million
senior secured second lien term loan. The rating outlook is
stable.

The proceeds from the $100 million incremental first lien term loan
will be used primarily to fund acquisitions under signed letters of
intent, repay borrowings under the revolving credit facility, and
for general corporate purposes. On a pro forma basis for the
transaction, the company's adjusted financial leverage remains over
7 times. Moody's expects the incremental term loan to support NVA's
liquidity profile through the maintenance of full availability
under its revolving credit facility and increased balance sheet
cash.

Moody's estimates that any upsize to the incremental first lien
term loan by more than $30 million would likely result in a
downgrade on all of the existing senior secured first lien credit
facilities' rating to B2 from B1. Such a downgrade would reflect
the reduced loss absorption provided by the 2nd lien term loan and
increase in the amount of first lien debt outstanding.

Following is a summary of Moody's rating assignment on NVA
Holdings, Inc.:

$100M incremental senior secured first lien term loan, at B1 (LGD
3)

The following ratings of NVA Holdings, Inc. are unchanged:

Corporate Family Rating, B3

Probability of Default Rating, B3-PD

Senior secured revolving credit facility, B1 (LGD 3)

Senior secured first lien term loan, B1 (LGD 3)

Senior secured second lien term loan, Caa2 (LGD 5)

The rating outlook is stable.

The ratings are subject to review of final documentation.

RATINGS RATIONALE

NVA's B3 Corporate Family Rating reflects the company's very high
financial leverage, small absolute revenue size, and uncertainty
related to the pace of acquisitions over the
near-to-intermediate-term and the extent to which incremental debt
will be utilized. However, NVA's credit profile benefits from its
solid market presence as a leading provider of freestanding
veterinary hospitals in the U.S., with a diverse geographic
footprint across the U.S. and Canada. While Moody's expects
positive organic same-store sales growth over the next 12 to 18
months, the company will likely also pursue growth through an
aggressive acquisition strategy. However, while part of this
strategy will likely involve incremental debt and potentially
reduce available external liquidity sources, the rating is
supported by the company's flexibility to temper the pace of
acquisitions should the operating environment deteriorate or if the
company's cash needs increase.

The rating outlook is stable, reflecting the company's relatively
stable business profile and positive free cash flow generation, as
well as Moody's expectation that credit metrics will improve over
the next year driven by higher earnings. The stable rating outlook
does not incorporate significant debt-funded acquisitions or
shareholder distributions.

The ratings could be downgraded if the company faces top-line and
earnings pressure such that operating margins, cash flow, or
liquidity deteriorate. The ratings could also be downgraded if the
company engages in material debt-financed shareholder initiatives.

The ratings could be upgraded if NVA sustains revenue and earnings
growth that would enable the company to reduce and sustain its
adjusted debt-to-EBITDA below 6.0 times.

Based in Agoura Hills, California, NVA Holdings, Inc. ("NVA") is a
leading provider of veterinary medical services, operating over 300
locally-branded animal hospitals across the United States. NVA
provides medical, diagnostic testing, and surgical services to
support veterinary care. The company also offers ancillary services
including boarding and grooming, and the sale of pet food and other
retail pet care products. NVA is privately-owned by funds
affiliated with financial sponsor, Ares Management LLC ("Ares"). On
a reported basis, the company generated revenues of approximately
$552 million for the twelve months ended December 31, 2015.


OAKLAND PHYSICIANS: Court Confirms Sant's Plan
----------------------------------------------
Sant Partners, LLC, and Save the Hospital Group each filed separate
competing Combined Plan and Disclosure Statements for Oakland
Physicians Medical Center, L.L.C.  A confirmation hearing was held
relative to both plans.

In an Opinion dated February 2, 2016, which is available at
http://is.gd/JtR72Sfrom Leagle.com, Judge Walter Shapero of the
United States Bankruptcy Court for the Eastern District of
Michigan, Southern Division, Detroit, granted Confirmation of the
Sant Partners's Plan and denied Confirmation of the Save the
Hospital Group Plan.

Judge Shapero held that Sant's plan is superior to SHG's plan for a
number of reasons, because it (a) has the support of a greater
number of creditors; (b) has the support of a greater dollar amount
of creditor claims; (c) has the support of Crittenton, a creditor
that will continue to have long-term business relationship with the
Reorganized Debtor; (d) has the support of the Official Committee
of Unsecured Creditors; (e) as of the confirmation hearing was a
better plan in terms of ultimate creditor recovery; and (f)
importantly because of feasibility, for all the reasons discussed.

The case is In re: OAKLAND PHYSICIANS MEDICAL CENTER, L.L.C. d/b/a
DOCTORS' HOSPITAL OF MICHIGAN, Chapter 11, Debtor, Case No.
15-51011-wsd.

Oakland Physicians Medical Center, LL.C., Debtor In Possession, is
represented by Max J. Newman,Esq. -- newman@butzel.com -- Butzel
Long Stoneridge West, Thomas B. Radom, Esq. -- radom@butzel.com --
Butzel Long Stoneridge West

Basil T. Simon, Trustee, is represented by Stephen P. Stella, Esq.

                 About Oakland Physicians

Oakland Physicians Medical Center, LLC, filed for Chapter 11
bankruptcy protection (Bankr. E.D. Mich. Case No. 15-51011) on
July
22, 2015, estimating its assets at between $1 million and $10
million and its liabilities at between $10 million and $50
million.
The petition was signed by Yatinder M. Singhal, M.D.,
member/chairman of the Board.

Carol Hopkins at The Oakland Press recalls that the Hospital was
ordered in June 2015 to pay more than $2.7 million as a result of
a
lawsuit regarding loans, some of which were paid by a doctor who,
as recently as February 2015, had been listed as a member of the
Hospital's four-person board of directors.  Crain's Detroit
Business relates that the Hospital had been trying to cope with a
lawsuit filed by the Shree Investment Group and several physician
investors for unpaid loans of about $2 million.

Citing Cost Report Data, Crain's Detroit Business reports that the
Hospital lost $59.5 million from 2009 to 2013.  Crain's says
there's no financial information available for 2014 and 2015.  

According to the report, the Hospital tried over the past several
years to lessen operating expenses.  The report states that the
Hospital closed its emergency department in October 2013 but in
January 2014 expanded its urgent care center to 24 hours.  The
Hospital laid off in April some 40 of the estimated 300 employees
and earlier this year, more than 170 hospital retirees were
notified their life insurance coverage was terminated, effective
Dec. 31, 2015, the report adds.

Judge Walter Shapero presides over the case.

Thomas B. Radom, Esq., at Butzel Long, A Professional Corporation,
serves as the Company's bankruptcy counsel.

The physician-owned 47-bed hospital Oakland Physicians Medical
Center, LLC, is headquartered in Bloomfield Hills, Michigan.  
Oakland Physicians is the legal name of Doctors Hospital.


ODIN DEMOLITION: Court Denies Request to Reopen Ch. 11 Case
-----------------------------------------------------------
On November 12, 2015, Mainland Bank and Marathon Petroleum Company
LP filed their Joint Motion to reopen Odin Demolition & Asset
Recovery, LLC's bankruptcy case so that they can file a motion
requesting the Court: (1) to interpret the confirmed plan; (2) to
hold that the plan did not reserve the claims that the reorganized
debtor is now prosecuting; and (3) to enter an order requiring the
reorganized debtor to dismiss the state court lawsuit with
prejudice.

On December 2, 2015, the Debtor filed its objection to the Motion
to Reopen. On December 7, 2015, Northwinds Abatement, Inc., the
largest unsecured creditor of the Debtor, filed its Limited Joinder
to the Debtor's Objection. On December 17, 2015, the Movants filed
their Reply to the Debtor's Objection. Then, on January 11, 2016,
the Debtor filed its Response to the Movants' Reply.

In a Memorandum Opinion dated February 5, 2016, which is available
at http://is.gd/aR1bBwfrom Leagle.com, Judge Jeff Bohm of the
United States Bankruptcy Court for the Southern District of Texas,
Houston Division, denied the Movants' request to reopen the
bankruptcy case.

Judge Bohm held that the Motion to Reopen is nothing more than a
litigation tactic of the Movants to escape a legitimate lawsuit
being prosecuted by a legitimately reorganized Debtor in order to
pay allowed claims under a legitimately confirmed plan of
reorganization.  Rather than open the door to allow the Movants to
obtain unwarranted relief in this case, the Court will slam the
door shut so that the Movants and the Debtor can return to state
court -- where, it should be noted, the Movants will have ample
opportunity to defend themselves and avoid paying a dime to the
Debtor.

The case is In re: ODIN DEMOLITION & ASSET RECOVERY, LLC, Chapter
11, Debtor, Case No. 14-35211 (Bankr. S.D. Tex.).

ODIN Demolition & Asset Recovery, LLC, Debtor, is represented by
Jarrod Barclay Martin, Esq. -- Wauson Probus, Margaret Maxwell
McClure, Esq.,  Peter Schneider, Esq. --
pschneider@schneiderwallace.com  -- Schneider Wallace et al., John
Wesley Wauson, Esq. -- jwwauson@w-plaw.com -- Wauson Probus.

US Trustee, U.S. Trustee, represented by Christine A March, Office
of the US Trustee, Stephen Douglas Statham, Office of US Trustee.


OMNICOMM SYSTEMS: Issues 6.9M Shares to Preferred Stockholders
--------------------------------------------------------------
OmniComm Systems, Inc., entered into separate agreements with
certain holders of the Company's 5% Series A Convertible Preferred
Stock, par value $0.001 per share, pursuant to which the Company
and each such Holder agreed to exchange the Holder's Series A
Preferred Stock and waive all accrued and unpaid dividends on the
Series A Preferred Stock accrued through to the effective date of
the agreement, for shares of the Company's common stock, par value
$0.001 per share.  In the aggregate, the Company issued 6,983,520
shares of Common Stock (approximately 5.4% of the Company's
outstanding shares of Common Stock as of Feb. 11, 2016, giving
effect to the issuance, as previously reported in the Company's
Form 8-K filed Nov. 20, 2015, of 37,023,517 shares of Common Stock
prior to Feb. 16, 2016, but not giving effect to the issuance, as
previously reported in the Registrant's Form 8-K filed Jan. 27,
2016, of 7,643,376 shares of Common Stock prior to the date hereof)
in exchange for 1,745,880 shares of Series A Preferred Stock and
approximately $1,120,488 of accrued and unpaid dividends on the
Series A Preferred Stock.  

As of Feb. 11, 2016, and including those agreements previously
reported in the Registrant’s Form 8-K filed Jan. 27, 2016, the
Company has entered into agreements with respect to exchanges of
shares of Series A Preferred Stock (and waiving all accrued and
unpaid dividends on the Series A Preferred Stock) for an aggregate
of approximately 14,626,896 shares of Common Stock.

                   About OmniComm Systems

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

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

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

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


OSAGE EXPLORATION: Meeting of Creditors Set for March 14
--------------------------------------------------------
The U.S. Trustee for Region 20 will convene a meeting of creditors
in the Chapter 11 cases of Osage Exploration and Development, Inc.,
on March 14, 2016, at 2:00 p.m.  The meeting will be held at 1st
Floor, Room 113, 215 Dean A. McGee Avenue, Oklahoma City,
Oklahoma.

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

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

                    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.


PADILLA CONSTRUCTION: Court Grants Insurer's Bid to Dismiss Suit
----------------------------------------------------------------
Defendant National Union Fire Insurance Company of Pittsburgh, PA,
filed a motion to dismiss for failure to state a claim.  Also
before the court is defendant's request for judicial notice in
support of its motion to dismiss.

In an Order dated February 5, 2016, which is available at
http://is.gd/NOurfRfrom Leagle.com, Judge Howard D. McKibben of
the United States District Court for the District of Nevada granted
the defendant's motion to dismiss with Leave to Amend as to the
breach of good faith and fair dealing, statutory bad faith,
punitive damages, and attorney's fees and denied in all other
respects.

The court will grant plaintiffs Troy and Paula Burley and Paul
Ackerman amd Judy Ackerman, et al.'s leave to amend their second
amended complaint if the plaintiffs can allege that they are a
named insured or specific intended beneficiaries under the terms of
the insurance policy.  Additionally, the plaintiffs may amend their
complaint to restore their request for punitive damages and
attorneys' fees if they can demonstrate a basis for recovery
consistent with the order.

The case is TROY AND PAULA BURLEY AND PAUL ACKERMAN AND JUDY
ACKERMAN AS TRUSTEES OF THE ACKERMAN FAMILY TRUST, et al.,
Plaintiffs, v. NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH
PA, a subsidiary of AMERICAN INTERNATIONAL GROUP, INC., and DOES
1through 100, inclusive, Defendants, No. 3:15-cv-00272-HDM-WGC (D.
Nev.).

Troy and Paula Burley, Plaintiff, is represented by Ardea G.
Canepa, Esq. -- acanepa@msclawyers.com  -- Maddox, Segerblom, and
Canepa, LLP, Eva Segerblom, Esq. -- esegerblom@msclawyers.com --
Maddox, Segerblom, and Canepa, LLP & Robert C. Maddox, , Esq. --
rmaddox@msclawyers.com  -- Maddox, Segerblom, and Canepa, LLP

Paul and Judy Ackerman, Plaintiff, is represented by Ardea G.
Canepa, Maddox, Segerblom, and Canepa, LLP, Eva Segerblom, Maddox,
Segerblom, and Canepa, LLP & Robert C. Maddox.

National Union Fire Insurance Company of Pittsburgh PA, Defendant,
is represented by Andrew D. Herold, Esq. --
aherold@heroldsagerlaw.com -- Herold & Sager & Joshua Zlotlow, Esq.
-- jzlotlow@heroldsagerlaw.com -- Herold & Sager.


PARAGON OFFSHORE: Faces Lender Opposition to Smooth Chapter 11
--------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that Paragon Offshore
PLC ran into opposition to its strategy for a quick trip through
Chapter 11 when term lenders, owed some $650 million, said on Feb.
17, 2016, they were not on board with the offshore oil and gas
developer's plans to offload $1 billion in debt.  During Paragon's
first-day hearing in Wilmington, attorneys for Cortland Capital
Market Services LLC, the proposed successor agent for the Debtor's
senior secured term loan facility, said the term lenders have not
only been excluded from restructuring talks but do not back the
proposed plan.

                      About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/--  
is a global provider of offshore drilling rigs.  Paragon's
operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the
over-the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-10410) on
Feb. 14, 2016, after reaching a deal with lenders on a
reorganization plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total debts
of $2.96 billion as of Sept. 30, 2015.  

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.


PETERSBURG REGENCY: Hits LeClairRyan Hit With Malpractice Suit
--------------------------------------------------------------
Martin Bricketto at Bankruptcy Law360 reported that the onetime
owners of a hurricane-damaged Virginia hotel have accused
LeClairRyan of breach of contract and malpractice in insurance
coverage litigation, telling a New Jersey court the firm colluded
with creditors and improperly spearheaded an involuntary bankruptcy
against the hotel.  

The claims against the firm are being brought by hotel Petersburg
Regency LLC and its owners, Robert and Marlene Harmon, as part of a
wider-ranging suit that targets a James Burt, who repeatedly lent
the hotel and Robert Harmon money; Garrison Investment Group, the
manager for the purchaser of a mortgage on the damaged hotel; and
others. Petersburg Regency halted operations in 2011 and lost the
hotel in 2014 as part of a tax foreclosure sale, according to court
documents.

The Harmons and Petersburg Regency are represented by F.R. "Chip"
Dunne III of Dunne & Associates LLC.

The case is Harmon et al. v. Burt et al., case number L-300-16, in
the Superior Court of the State of New Jersey, County of Morris.

                    About Petersburg Regency

Petersburg Regency, LLC, commenced a Chapter 11 bankruptcy case
(Bankr. D.N.J. Case No. 15-17169) in Newark, New Jersey, on April
20, 2015.  The case is assigned to Judge Vincent F. Papalia.

An involuntary bankruptcy case was previously filed against the
company (Bankr. E.D. Va. Case No. 15-30526) but the case was
dismissed by consent order in March 2015.


PLY GEM HOLDINGS: Raging Capital Holds 5.4% Stake as of Dec. 31
---------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Raging Capital Management, LLC and William C. Martin
disclosed that as of Dec. 31, 2015, they beneficially own
3,692,429 shares of common stock of Ply Gem Holdings, Inc.
representing 5.4 percent of the shares outstanding.  A copy of the
regulatory filing is available for free at http://is.gd/VdtE0i

                          About Ply Gem

Based in Cary, North Carolina, Ply Gem Holdings Inc. is a
diversified manufacturer of residential and commercial building
products, which are sold primarily in the United States and
Canada, and include a wide variety of products for the residential
and commercial construction, the do-it-yourself and the
professional remodeling and renovation markets.

Ply Gem reported a net loss of $31.3 million on $1.56 billion of
net sales for the year ended Dec. 31, 2014, compared to a net loss
of $79.5 million on $1.36 billion of net sales for the year ended
Dec. 31, 2013.

As of Oct. 3, 2015, the Company had $1.31 billion in total assets,
$1.39 billion in total liabilities and a $80.8 million total
stockholders' deficit.

                            *     *     *

In May 2010, Standard & Poor's Ratings Services raised its
(unsolicited) corporate credit rating on Ply Gem to 'B-' from
'CCC+'.  "The ratings upgrade reflects our expectation that the
Company's credit measures are likely to improve modestly over the
next several quarters to levels that we would consider more in
line with the 'B-' corporate credit rating," said Standard &
Poor's credit analyst Tobias Crabtree.


PMC MARKETING: BAP Orders $16K Judgment in Trustee's Favor
----------------------------------------------------------
Noreen Wiscovitch-Rentas, the plaintiff and chapter 7 trustee,
appeals from the bankruptcy court order relating to her complaint
seeking to avoid and recover preferential transfers, whereby the
court granted summary judgment in favor of the defendant-appellee,
Sur CSM Plaza, Inc. and denied her amended cross-motion.  

In a Decision dated January 19, 2016, which is available at
http://is.gd/kn8mA6from Leagle.com, the United States Bankruptcy
Appellate Panel for the First Circuit, reversed the Order, in part,
to the extent that it granted the Summary Judgment Motion, vacated
the Order to the extent that it denied the Cross-motion and struck
the Amended-Cross-motion, and remanded the matter to the bankruptcy
court for the entry of judgment in favor of the Trustee in the
amount of $16,085.95, plus interest and costs.

The case is PMC MARKETING CORP., Debtor. NOREEN WISCOVITCH-RENTAS,
Chapter 7 Trustee, Plaintiff-Appellant, v. SUR CSM PLAZA, INC.,
Defendant-Appellee, BAP No. PR 15-023, Bankruptcy Case No.
09-02048-BKT, Adversary Proceeding No. 12-00094-BKT.

Rafael A. González Valiente, Esq. -- rgonzalez@lbrglaw.com --
Latimer, Biaggi, Rachid & Godreau, LLP., on brief for
Plaintiff-Appellant.

Maria Fernanda Velez Pastrana, Esq., on brief for
Defendant-Appellee.

                  About PMC Marketing

PMC Marketing Corp. filed a Chapter 11 bankruptcy petition (Bankr.
D.P.R. Case No. 09-02048) on March 18, 2009.  The case was
converted into a Chapter 7 proceeding on May 19, 2010.  On May 20,
2010, Noreen Wiscovitch-Rentas was appointed the Chapter 7
trustee.


PMC MARKETING: BAP Orders $22K Judgment in Trustee's Favor
----------------------------------------------------------
Noreen Wiscovitch-Rentas, the plaintiff and chapter 7 trustee,
appeals from the bankruptcy court's April 10, 2015 order relating
to her complaint seeking to avoid and recover preferential
transfers, whereby the court granted summary judgment in favor of
the defendant-appellee, Santa Rosa Mall, LLC and denied her amended
cross-motion.

In a Decision dated January 19, 2016, which is available at
http://is.gd/Bao5knfrom Leagle.com, the United States Bankruptcy
Appellate Panel for the First Circuit reversed the Order, and
remanded the matter to the bankruptcy court for the entry of
judgment in favor of the Trustee in the amount of $22,789.21, plus
interest and costs.

The case is PMC MARKETING CORP., Debtor. NOREEN WISCOVITCH-RENTAS,
Chapter 7 Trustee, Plaintiff-Appellant, v. SANTA ROSA MALL, LLC,
Defendant-Appellee., BAP No. PR 15-024, Bankruptcy Case No.
09-02048-BKT, Adversary Proceeding No. 12-00167-BKT.

Rafael A. González Valiente, Esq. -- rgonzalez@lbrglaw.com --
Latimer, Biaggi, Rachid & Godreau, LLP., on brief for
Plaintiff-Appellant.

Maria Fernanda Velez Pastrana, Esq., on brief for
Defendant-Appellee.
             
                  About PMC Marketing

PMC Marketing Corp. filed a Chapter 11 bankruptcy petition (Bankr.
D.P.R. Case No. 09-02048) on March 18, 2009.  The case was
converted into a Chapter 7 proceeding on May 19, 2010.  On May 20,
2010, Noreen Wiscovitch-Rentas was appointed the Chapter 7
trustee.


POWERWAVE TECHNOLOGIES: Suit vs. Carrier Group Stays in Dist. Court
-------------------------------------------------------------------
Judge Rudolph Contreras of the United States District Court for the
District of Columbia denied the motion filed by four cellular
telephone carriers to transfer venue of their lawsuit to the United
States District Court for the District of Delaware, and granted in
part and denied in part their motion to dismiss.

In 2009, the Carrier Consortium entered into a Master License
Agreement with the Washington Metropolitan Area Transit Authority
("WMATA") for the design and construction of a wireless
communications infrastructure that would allow WMATA riders to use
their cellular phones in Metrorail tunnels and stations.  The
Carrier Consortium hired Powerwave Technologies, Inc. ("Powerwave")
as the project's general contractor.  Powerwave, in turn, hired
Intelect Corporation ("Intelect") as a subcontractor.

After Powerwave filed for bankruptcy, Intelect directly sued the
Carrier Consortium for the latter's alleged failure to ensure that
Powerwave obtained the required surety payment bond covering the
entire contract price in order to assure payment to all of
Powerwave's subcontractors.  Intelect claimed that Powerwave failed
to make payments on several invoices, and that a total of
$1,013,016.83 remains due to Intelect.

The Carrier Consortium filed a motion to transfer venue to the
United States District Court for the District of Delaware, where
Powerwave's bankruptcy proceedings were ongoing.  The Carrier
Consortium also sought to dismiss Intelect's amended complaint for
failure to state a claim.

In denying the defendants' motion to transfer venue, Judge
Contreras found that the convenience of the parties and witnesses
and the interest of justice weigh against transferring the case.
The judge was also inclined to think that Intelect's claims in this
case do not "relate to" the Powerwave bankruptcy proceeding because
the said claims arise out of the Carrier Consortium's own actions.

As to the motion to dismiss, Judge Contreras agreed that Intelect
has failed to state a claim for negligent misrepresentation (Count
II), constructive fraud (Count VI), and promissory estoppel (Count
VII).  On the remaining counts, however, Judge Contreras concluded
that Intelect has plausibly stated a claim and therefore denied the
Carrier Consortium's motion to dismiss as to Counts I, III, IV, and
V.

The case is INTELECT CORPORATION, Plaintiff, v. CELLCO PARTNERSHIP
GP, et al., Defendants, Civil Action No. 15-0902 (RC) (D.C.).

A full-text copy of the Judge Contreras' February 5, 2016
memorandum opinion is available at http://is.gd/p8rsXNfrom
Leagle.com.

INTELECT CORPORATION is represented by:

          Philip C. Jones, Esq.
          JONES & COHEN, LLC
          1125 West St #200
          Annapolis, MD 21401
          Tel: (410)921-3360
          Email: pjones@jonescohenlaw.com

CELLCO PARTNERSHIP GP, NEW CINGULAR WIRELESS, PCS, LLC, APC REALTY
AND EQUIPMENT CO., LLC, NEXTEL COMMUNICATIONS OF THE MID-ATLANTIC,
INC. and T-MOBILE NORTHEAST, LLC are represented by:

          Scott M Jarvis, Esq.
          Suzanne N. Boyd, Esq.
          William S. Sugden, Esq.
          ALSTON & BIRD, LLP
          One Atlantic Center
          1201 West Peachtree Street, Suite 4900
          Atlanta, GA 30309-3424
          Tel: (404)881-7000
          Fax: (404)881-7777
          Email: scott.jarvis@alston.com
                 suzanne.roberts.alston.com
                 will.sugden@alston.com

             -- and --
                 
          Marianne R. Casserly, Esq.
          ALSTON & BIRD, LLP
          The Atlantic Building
          950 F Street, NW
          Washington, DC 20004-1404
          Tel: (202)239-3300
          Fax: (202)239-3333
          Email: marianne.casserly@alston.com

                    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.


PRIMROSE LA SARA: Case Summary & 2 Unsecured Creditors
------------------------------------------------------
Debtor: Primrose La Sara, LLC
          fka Risco La Sara, LLC
        715 Discovery, Suite 302
        Cedar Park, TX 78613

Case No.: 16-30822

Chapter 11 Petition Date: February 17, 2016

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

Judge: Hon. Karen K. Brown

Debtor's Counsel: Richard L Fuqua, II, Esq.
                  FUQUA & ASSOCIATES, PC
                  5005 Riverway, Ste. 250
                  Houston, TX 77056
                  Tel: 713-960-0277
                  Email: fuqua@fuqualegal.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

Largest unsecured creditor: Blakenergy, Ltd., $231,514

The petition was signed by Miles Klepper, president.

A list of the Debtor's two largest unsecured creditors is available
for free at http://bankrupt.com/misc/txsb16-30822.pdf


QUALITY DISTRIBUTION: Moab Capital No Longer Holds Common Shares
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Moab Capital Partners, LLC, Moab Partners, L.P., and
and Mr. Michael M. Rothenberg disclosed that as of Dec. 31, 2015,
they have ceased to be the beneficial owner of shares of common
stock of Quality Distribution Inc.  A copy of the regulatory filing
is available for free at http://is.gd/lTTVSA

                    About Quality Distribution

Quality Distribution, LLC, and its parent holding company, Quality
Distribution, Inc., are headquartered in Tampa, Florida.  The
company is a transporter of bulk liquid and dry bulk chemicals.
The company's 2010 revenues are approximately $686 million.
Apollo Management, L.P., owns roughly 30 percent of the common
stock of Quality Distribution, Inc.

As of June 30, 2015, the Company had $413 million in total assets,
$436 million in total liabilities and a $22.9 million total
shareholders' deficit.

                        Bankruptcy Warning

"We have substantial indebtedness and may not be able to make
required payments on our indebtedness.

We had consolidated indebtedness and capital lease obligations,
including current maturities of $351.3 million, as of December 31,
2014.  We must make regular payments under the ABL Facility,
including the Term Loan, thereunder, and our capital leases and
semi-annual interest payments under our 2018 Notes.

The ABL will mature at the earlier of November 2019 and the date
that is 91 days prior to the maturity of the Company's currently
outstanding 2018 Notes or any replacement notes if the outstanding
amount of such debt is above a certain threshold.  The Term Loan
matures on November 3, 2017 but we are subject to mandatory
prepayment of the principal amount of the Term Loan in equal
quarterly payments beginning as early as November 2015.  The
maturity date of the ABL Facility, including the Term Loan, may be
accelerated if we default on our obligations.  If the maturity of
the ABL Facility and/or such other debt is accelerated, we may not
have sufficient cash on hand to repay the ABL Facility and/or such
other debt or be able to refinance the ABL Facility and/or such
other debt on acceptable terms, or at all.  The failure to repay
or refinance the ABL Facility and/or such other debt at maturity
would have a material adverse effect on our business and financial
condition, would cause substantial liquidity problems and may
result in the bankruptcy of us and/or our subsidiaries.  Any actual
or potential bankruptcy or liquidity crisis may materially harm our
relationships with our customers, suppliers and independent
affiliates," the Company stated in its 2014 annual report.

                           *     *     *

As reported in the TCR on June 28, 2013, Moody's Investors Service
upgraded Quality Distribution, LLC's Corporate Family Rating to
'B2' from 'B3' and Probability of Default Rating to 'B2-PD' from
'B3-PD'.

The upgrade of Quality's CFR to 'B2' was largely driven by the
expectation that credit metrics will improve over the next twelve
to eighteen months, through a combination of EBITDA growth and
debt paydowns, to levels consistent with the 'B2' rating level.
The company is in the process of integrating the bolt-on
acquisitions made in its Energy Logistics business sector since
2011.

As reported by the TCR on July 17, 2015, Standard & Poor's Ratings
Services said that it has lowered its corporate credit rating on
Tampa-based transportation and logistics provider Quality
Distribution Inc. to 'B-' from 'B' and removed the ratings from
CreditWatch, where S&P had placed them with negative implications
on May 8, 2015.  "The downgrade reflects Quality Distribution's
higher debt-leverage pro forma for its acquisition by Apax
Partners," said Standard & Poor's credit analyst Michael Durand.


QUIKSILVER INC: Reorganization Plan Declared Effective
------------------------------------------------------
BankruptcyData reported that Quiksilver's Third Amended Joint
Chapter 11 Plan of Reorganization became effective, and the Company
emerged from Chapter 11 protection.

The Court confirmed the Plan on Jan. 29, 2016.  According to
documents filed with the SEC, "On the effective date of the Plan,
all of the Company's existing equity securities, including its
shares of common stocks and warrants, will be canceled and
extinguished without holders receiving any distribution.  New
common shares will be distributed to the holders of the Company's
7.875% Senior Secured Notes due 2018 and 10.000% Senior Unsecured
Notes due 2020, and additional new common shares will be issued to
the holders of the Company's 7.875% Senior Secured Notes due 2018,
10.000% Senior Unsecured Notes due 2020, and the backstop parties
that participated in rights offerings described under the Plan. In
addition, the Debtors will enter into an asset-based revolving
credit facility in the principal amount of up to $140 million, as
well as a term loan credit facility in the principal amount of up
to $50 million.

The debtor-in-possession financing provided to the Debtors and
authorized by the Bankruptcy Court, consisting of a secured
revolving credit facility and secured term loan credit facility,
will be repaid in full utilizing new financing and proceeds from
the exit rights offering obtained by the Debtors."  The Company is
now owned by private equity firm Oaktree Capital Management, whose
managing director David Tanner notes, "Loyal customers, both in the
U.S. and abroad, are a key reason Oaktree Capital Management
investors bailed out the brand, resurrecting the surf wear company
with a $175 million investment.  The first move after emerging from
bankruptcy is to take a step back to make the 'brand strategies
crisper,' and to find out where it fits within the constantly
changing action-sports landscape.  Another key fix is to tighten
internal production by figuring out whether regional operations
could be done more efficiently on a global scale."  This specialty
apparel retailer filed for Chapter 11 protection on Sept. 9, 2015,
listing $1.3 billion in prepetition assets.

                       About Quiksilver Inc.

Quiksilver, Inc., and its affiliates filed Chapter 11 bankruptcy
petitions (Bankr. D. Del., Case Nos. 15-11880 to 15-11890) on
Sept. 9, 2015. Andrew Bruenjes signed the petition as chief
financial officer.  The Debtors disclosed total assets of $337
million and total debts of $826 million.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as the
Debtors' legal advisor, FTI Consulting, Inc. as their
restructuring advisor, and Peter J. Solomon Company as their
investment banker.  Kurtzman Carson Consultants LLC acts as the
Debtors' claims and noticing agent.

The Debtors' First Amended Joint Chapter 11 Plan of Reorganization

provides that on the effective date, Reorganized Quiksilver will
issue new common stock to be distributed as follows: (a) first,
19% to holders of Allowed Secured Notes Claims; (b) second, up to
77% to Rights Offering Participants; and (c) third, 4% to the
Backstop Parties.  As of the Effective Date, the anticipated value
of the New Quiksilver Common Stock will be approximately $276
million.

The U.S. trustee overseeing the Chapter 11 cases of Quiksilver
Inc. and its affiliates appointed seven members to the official
committee of unsecured creditors.  The Committee tapped Akin Gump
Strauss Hauer & Feld LLP, and Pepper Hamilton LLP as its
co-counsel as co-counsel; Province Inc. as its financial advisor
and PJT Partners Inc. as investment banker.


RADIOSHACK CORP: Judge OKs $5.5M Deal With Pa. Store Managers
-------------------------------------------------------------
Jacob Fischler at Bankruptcy Law360 reported that the liquidating
trustee overseeing RadioShack's bankruptcy agreed to pay $5.5
million in unsecured claims to a class of store managers who did
not receive overtime pay from the now-bankrupt electronics retail
chain under a settlement a Delaware federal bankruptcy judge
approved on Feb. 10, 2016.  Under the agreement, the 569 managers
who worked at Pennsylvania RadioShack Corp. locations are to
receive a general unsecured claim of $3.67 million, and a $1.83
million claim will be allocated to their attorneys, which covers
all legal fees and expenses.

                 About RadioShack Corporation

Headquartered in Fort Worth, Texas, RadioShack is a retailer of
mobile technology products and services, as well as products
related to personal and home technology and power supply needs.
RadioShack's retail network includes more than 4,300
company-operated stores in the United States, 270 company-operated
stores in Mexico, and approximately 1,000 dealer and other outlets
worldwide.

RadioShack Corp. and affiliates sought Chapter 11 protection
(Bankr. D. Del. Lead Case No. 15-10197) on Feb. 5, 2015,
disclosing total assets of $1.2 billion, versus total debt of $1.3
billion.

David G. Heiman, Esq., Greg M. Gordon, Esq., Amanda M. Suzuki,
Esq., Jonathan M. Fisher, Esq., Thomas A. Howley, Esq., and Paul
M. Green, Esq., at Jones Day serve as the Debtors' bankruptcy
counsel.  David M. Fournier, Esq., Evelyn J. Meltzer, Esq., and
John H.
Schanne, II, Esq., at Pepper Hamilton LLP serve as co-counsel.
Carlin Adrianopoli at FTI Consulting, Inc. is the Debtors'
restructuring advisor.  Maeva Group, LLC, is the Debtors'
turnaround advisor. Lazard Freres & Co. LLC is the Debtors'
investment banker.  A&G Realty Partners is the Debtors' real
estate advisor.  Prime Clerk is the Debtors' claims and noticing
agent.

The Official Committee of Unsecured Creditors tapped Quinn Emanuel
Urquhart & Sullivan, LLP and Cooley LLP as co-counsel, and
Houlihan Lokey Capital, Inc., as financial advisor and investment
banker.  

                           *     *     *

After an auction in March 2015, the Debtors sold most of the
assets to General Wireless, Inc., an entity formed by Standard
General,
L.P., for $150 million.  The Debtors also sold Mexican assets to
Office Depot de Mexico, S.A. de C.V., for $31.8 million plus the
assumption of debt.  Regal Forest Holding Co. Ltd. bought the
Debtors' intellectual property assets in Latin America for a
purchase price of $5,000,000.

In June 2015, the Debtors changed their name to RS Legacy
Corporation, et al., following the sale of the Company's brand
name and customer data to General Wireless.

The bankruptcy judge on Oct. 2, 2015, issued an order confirming
the first amended joint plan of liquidation of the Debtors.  The
centerpiece of the Plan is the resolution of various disputes
among the Debtors, the Creditors' Committee and the SCP Secured
Parties.

The Plan was declared effective on Oct. 7, 2015.



RCS CAPITAL: Has Interim OK to Obtain $25-Mil. in DIP Loans
-----------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware gave RCS Capital Corporation, et al., interim authority
to borrow money under the DIP Credit Agreement up to an aggregate
principal amount not to exceed $25 million.

Under the DIP facility, the Debtors are authorized to borrow up to
an aggregate principal amount of $100 million to be issued net of
1.0 % discount, the remainder of which will be made available upon
entry of the Final Order, plus Professional Expense Cap not
exceeding $1.5 million in the aggregate.

First Lien Lenders with its administrative agent and collateral
agent, Barclays Bank PLC, extended to the Debtors a $575 million
Senior Secured First Lien Term Loan Facility and a $25 million
Senior Secured First Lien Revolving Facility, while Second Lien
Lenders, with its administrative agent and collateral agent,
Wilmington Trust, N.A., extended to the Debtor a $150 million
Senior Secured Second Lien Term Loan Facility with respect to
hedging agreements and cash management arrangements and secured by
liens on substantially all of the assets of the Debtors.

The aggregate principal balance of the Prepetition Secured
Obligations comprised of not less than approximately $556 million
on account of the First Lien Credit Facility plus all other First
Lien Obligations and $153.2 million on account of the Second Credit
Facility plus all other Second Lien Obligations, respectively.

On a final basis, the payment of any professional fees incurred on
or after the Carve-Out Trigger Date will not exceed $1.5 million in
the aggregate. To the extent that one is appointed to investigate
the prepetition liens and claims of the Prepetition Secured
Parties, the Committee may use no more that $50,00 of the proceeds
of the DIP Facility or DIP Collateral or Cash Collateral.

The final hearing to consider entry of the final order and final
approval of the DIP Facility is scheduled for Feb. 24, 2016, at
11:30 A.M. (ET).

A full-text copy of the Interim DIP Order with Budget is available
at http://bankrupt.com/misc/RCSdipord0203.pdf

RCS Capital Corporation and Debtors-In-Possession are represented
by:

     Robert S. Brady, Esq.
     Edmon L. Morton, Esq.
     Robert F. Poppiti, Jr., Esq.
     Ian J. Bambrick, Esq.
     YOUNG CONAWAY STARGATT & TAYLOR, LLP
     Rodney Square
     1000 North King Street
     Wilmington, DE 19801
     Telephone: (302) 571-6600
     Facsimile: (302) 571-1256
     Email: rbrady@ycst.com
            emorton@ycst.com
            rpoppiti@ycst.com
            ibambrick@ycst.com

     --and--

     Michael J. Sage, Esq.
     Shmuel Vasser, Esq.
     Stephen M. Wolpert, Esq.
     Andrew C. Harmeyer, Esq.
     DECHERT LLP
     1095 Avenue of the Americas
     New York, NY 10036
     Telephone: (212) 698-3500
     Facsimile: (212) 698-3599
     Email: michael.sage@dechert.com
            shmuel.vasser@dechert.com
            stephen.wolpert@dechert.com
            andrew.harmeyer@dechert.com

          About RCS Capital

New York-based RCS Capital Corporation --
http://www.rcscapital.com/-- is a full-service investment firm
focused on the individual retail investor.  With operating
subsidiaries primarily focused on retail advice and until the
completion of recently announced pending sales and divestiture of
its wholesale distribution and investment banking, the company's
business aims to capitalize, grow and maximize value for the
investment programs its distributes and the independent advisors
and clients it serves.

RCS Capital Corporation and 11 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10223 to
16-10234) on Jan. 31, 2016.  The petitions were signed by David
Orlofsky as chief restructuring officer. The Debtors disclosed
total assets of $1.97 billion and total debts of $1.39 billion.

The Debtors have engaged Dechert LLP as general counsel, Young
Conaway Stargatt & Taylor, LLP as Delaware counsel, Zolfo Cooper
Management, LLC as restructuring advisor, Lazard Freres & Co. LLC
as investment banker and Prime Clerk LLC as administrative advisor
and claims and noticing agent.


SABRA HEALTH: Sells Frisco Hospital in $96M HCA Holdings Deal
-------------------------------------------------------------
Andrew McIntyre at Bankruptcy Law360 reported that Sabra Health
Care REIT Inc. has reached a deal to sell its bankrupt hospital in
Frisco, Texas, to a subsidiary of HCA Holdings Inc. for
$96.25 million, and with that sale will take a steep loss on its
investments in the property, according to an announcement from
Sabra on Feb. 10, 2016.

Sabra and so-called Forest Park Medical Center at Frisco LLC are
selling their interests in the Forest Park Medical Center -- Frisco
hospital, one of several bankrupt Forest Park facilities in Texas.

                       About Sabra Health

Sabra Health Care REIT, Inc., a Maryland corporation, operates as a
self-administered, self-managed real estate investment trust that,
through its subsidiaries, owns and invests in real estate serving
the healthcare industry.  Sabra Health leases properties to tenants
and operators throughout the United States and Canada.

                    About Forest Park Medical

Forest Park Medical Center at Frisco, LLC filed Chapter 11
bankruptcy petition (Bankr. E.D. Tex. Case No. 15-41684) on
Sept. 22, 2015.  The petition was signed by Michael Miller, the
CRO.  The Debtor estimated assets and liabilities in the range of
$10 million to $50 million.

The Debtor is a doctor-owned Texas limited liability company that
owns and operates a 54-bed state-of-the-art medical facility,
including 30 private rooms, 14 family suites, and 10 intensive care
rooms in Frisco, Texas.

Hon. Brenda T. Rhoades is assigned to the case.

Lewis Brisbois Bisgaard & Smith LLP serves as counsel to the
Debtor.


SAMUEL E. WYLY: Feds Say Wylys Can't Escape Fraud Allegations
-------------------------------------------------------------
Hannah Sheehan at Bankruptcy Law360 reported that the IRS told a
Texas bankruptcy court on Feb. 10, 2016, that business tycoon Sam
Wyly and his late brother's widow can't escape fraud allegations in
a $2.2 billion dispute over alleged tax evasion schemes because the
pair had direct knowledge of the conduct at issue.  In post-trial
briefing ordered by U.S. Bankruptcy Judge Barbara Houser, the
agency said Sam and Dee Wyly can't claim ignorance to circumvent
the firmly established facts of the case.  

                         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).


SANDIA RESORTS: Court Finds 2nd Ch. 11 Filing Impermissible
-----------------------------------------------------------
This Chapter 11 case is Sandia Resorts' second attempt to
reorganize in three years.  First National Bank of Santa Fe, Sandia
Resorts' largest creditor in this Chapter 11 case and in the first
Chapter 11 case, does not want Sandia Resorts to use this second
Chapter 11 case to thwart its foreclosure efforts in state court
where a receiver was appointed prior to the fling of this Chapter
11 case.

FNBSF filed a motion to dismiss Sandia Resorts' Chapter 11 case and
a motion to excuse turnover of the Hotel.  Sandia Resorts filed an
adversary proceeding against FNBSF and C. Randal Lewis, Western
Receiver, Trustee and Consulting Services, Ltd. requesting turnover
of Sandia Resorts' assets and the operation of the Hotel to Sandia
Resorts.  The Court authorized the parties to submit optional
post-trial briefs on the issue of whether a debtor may file a
second Chapter 11 case to restructure debt that had already been
restructured in a prior Chapter 11 case. Sandia Resorts and FNBSF
each submitted a post-trial brief.

In a Memorandum Opinion dated February 6, 2016, which is available
at http://is.gd/qpounufrom Leagle.com, Judge Robert H. Jacobvitz
of the United States Bankruptcy Court for the District of New
Mexico concluded that Sandia Resorts' second Chapter 11 bankruptcy
case is an impermissible attempt to circumvent the prohibition
against modification of a Chapter 11 plan after substantial
consummation and that cause exists to dismiss this Chapter 11 case.
Accordingly, the Court granted the Motion to Dismiss, denied the
Motion for Turnover, and dismissed the Adversary Proceeding.

The case is In re: SANDIA RESORTS, INC., Debtor, No. 11-15-11532 JA
(Bankr. D.N.M.).

Sandia Resorts, Inc, New Mexico Corporation, Debtor, represented
byShay E Meagle, Meagle Law, P.A., Joshua R Simms, Joshua R Simms
PC.

Western Receiver, Trustee & Consulting Services, Ltd., Receiver, is
represented by Nathan C. Sprague, Esq. -- Moses Dunn Farmer &
Tuthill PC, Ronald A. Tucker, Esq. -- Moses Dunn Farmer & Tuthill
PC.


SANUWAVE HEALTH: Amends Prospectus of 18.7 Million Units
--------------------------------------------------------
SANUWAVE Health, Inc., filed an amended Form S-1 registration
statement with the Securities and Exchange Commission relating to
the offering of a minimum of 18,750,000 Units, with each Unit
consisting of (i) one share of its common stock, $0.001 par value
and, (ii) one detachable warrant to purchase one share of the
Company's Common Stock at an exercise price of $0.08 per share for
gross proceeds of $1,500,000 before deduction of commissions and
offering expenses and a maximum of 50,000,000 Units for gross
proceeds of $4,000,000 before deduction of commissions and offering
expenses.  The Units will separate immediately and the Common Stock
and Warrants will be issued separately.  This offering expires on
the earlier of (i) the date upon which all of the Units being
offered have been sold, or (ii) March 31, 2016.  

In addition, this prospectus relates to the sale of up to
23,545,114 outstanding shares of the Company's Common Stock by
certain stockholders.  The shares offered by this prospectus may be
sold by the selling stockholders, from time to time, in the
over-the-counter market or other national securities exchange or
automated interdealer quotation system on which the Company's
Common Stock is then listed or quoted.  The Company will receive
none of the proceeds from the sale of any shares by the selling
stockholders.  The Company will bear all expenses of registration
incurred in connection with this offering, but all selling and
other expenses incurred by the selling stockholders will be borne
by them.

The Company has engaged Newport Coast Securities, Inc. to act as
its exclusive placement agent in connection with this offering.
The Company has agreed to pay the placement agent a cash fee of (i)
10% of the aggregate purchase price of the Units sold in this
offering and (ii) warrants to purchase 10% of the number of shares
sold in this offering.  In the case of the Minimum Offering,
18,750,000 Units, the placement agent will be issued warrants to
purchase 1,875,000 shares of Common Stock at an exercise price of
$0.08 per share and in the case of the Maximum Offering, 50,000,000
Units, the placement agent will be issued warrants to purchase
5,000,000 shares of Common Stock at an exercise price of $0.08 per
share.  

The Company's Common Stock is quoted on the OTC Bulletin Board
under the symbol SNWV.OB.  The high and low bid prices for shares
of our Common Stock on Feb. 12, 2016, were $0.08 and $0.07 per
share, respectively, based upon bids that represent prices quoted
by broker-dealers on the OTC Bulletin Board.  These quotations
reflect inter-dealer prices, without retail mark-up, mark-down or
commissions, and may not represent actual transactions.

A full-text copy of the Form S-1/A is available for free at:

                     http://is.gd/OEQMfr

                     About SANUWAVE Health

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

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

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

                        Bankruptcy Warning

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


SCIENTIFIC GAMES: Baker Street No Longer Holds Class A Shares
-------------------------------------------------------------
Baker Street Capital L.P., Baker Street Capital Management, LLC,
Baker Street Capital GP, LLC, and Vadim Perelman disclosed that as
of Dec. 31, 2015, they have ceased to be the beneficial owner of
shares of Class A common stock of Scientific Games Corporation.  A
copy of the regulatory filing is available for free at:

                      http://is.gd/gifkFJ

                     About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/       

Scientific Games reported a net loss of $234 million in 2014, a net
loss of $30.2 million in 2013 and a net loss of $62.6 million for
2012.

As of Sept. 30, 2015, the Company had $8.61 billion in total
assets, $9.59 billion in total liabilities and a $981 million total
stockholders' deficit.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SCIENTIFIC GAMES: Fine Capital Beneficially Owns 9.7% CL-A Shares
-----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Fine Capital Partners, L.P., Fine Capital Advisors, LLC
and Debra Fine disclosed that as of Dec. 31, 2015, they
beneficially own 8,361,231 shares of common stock of Scientific
Games Corporation representing 9.71 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/ZRnheH

                     About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/       

Scientific Games reported a net loss of $234 million in 2014, a net
loss of $30.2 million in 2013 and a net loss of $62.6 million for
2012.

As of Sept. 30, 2015, the Company had $8.61 billion in total
assets, $9.59 billion in total liabilities and a $981 million total
stockholders' deficit.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SCIENTIFIC GAMES: Nantahala Capital, et al., Hold 9.6% A Shares
---------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Nantahala Capital Management, LLC, Wilmot B. Harkey
and Daniel Mack disclosed that as of Dec. 31, 2015, they
beneficially own 8,306,080 shares of common stock of Scientific
Games Corporation representing 9.6 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/EMSwAl

                    About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/       

Scientific Games reported a net loss of $234 million in 2014, a net
loss of $30.2 million in 2013 and a net loss of $62.6 million for
2012.

As of Sept. 30, 2015, the Company had $8.61 billion in total
assets, $9.59 billion in total liabilities and a $981 million total
stockholders' deficit.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SCIENTIFIC GAMES: Park West Holds 3.4% of Class A Shares
--------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Park West Asset Management LLC and Peter S. Park
disclosed that as of Dec. 31, 2015, they beneficially own
3,007,000 shares of Class A common stock of Scientific Games
Corporation representing 3.4 percent of the shares outstanding.  A
copy of the regulatory filing is available at http://is.gd/p8cFJi

                     About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/       

Scientific Games reported a net loss of $234 million in 2014, a net
loss of $30.2 million in 2013 and a net loss of $62.6 million for
2012.

As of Sept. 30, 2015, the Company had $8.61 billion in total
assets, $9.59 billion in total liabilities and a $981 million total
stockholders' deficit.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SCIENTIFIC GAMES: Stone House Holds 7.6% of Class A Shares
----------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Stone House Capital Management, LLC, SH Capital
Partners, L.P. and Mark Cohen reported that as of Dec. 31, 2015,
they beneficially own 6,880,827 shares of Class A common stock of
Scientific Games Corporation representing 7.6 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/5036vf

                    About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/       

Scientific Games reported a net loss of $234 million in 2014, a net
loss of $30.2 million in 2013 and a net loss of $62.6 million for
2012.

As of Sept. 30, 2015, the Company had $8.61 billion in total
assets, $9.59 billion in total liabilities and a $981 million total
stockholders' deficit.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SEAPORT AIRLINES: Owes $2,191 to Salina Airport Authority
---------------------------------------------------------
Tim Unruh, writing for Salina Journal, reported that the board
members of the Salina Airport Authority in Kansas were informed of
SeaPort Airlines' Chapter 11 bankruptcy filing at their meeting on
Feb. 17.  SeaPort owes the airport authority $2,191 for rent and
landing fees, and Shelli Swanson, director of administration and
finance, said a federal claim will be filed to recover that debt.

SeaPort canceled operations at Salina Regional Airport on Jan. 16,
the report noted.

Dale Hogg, Managing Editor at GB Tribune, reported that Martin
Miller, manager of the Great Bend Municipal Airport in Great Bend,
Kansas, updated the City Council on Feb. 15 on the effort to resume
regional air service after its most recent provider, Seaport
Airlines, pulled out in January. The flights to the airport fell
under the federal Essential Air Service program.  The report says
Great Bend must convince the United States Department of
Transportation that it is eligible for EAS, Miller said.

Miller also noted that Seaport had been struggling with its Great
Bend operations for some time, and had improperly billed and
calculated flights through Great Bend.

Portland, Oregon-based SeaPort Airlines, Inc. -- fdba Wings of
Alaska and fka Alaska Juneau Aeronautics, Inc. -- filed for Chapter
11 bankruptcy protection (Bankr. D. Ore. Case No. 16-30406) on
February 5, 2016.  The Hon. Randall L. Dunn presides over the case.
Douglas R Ricks, Esq., and Robert J Vanden Bos, Esq., at Vanden
Bos & Chapman, LLP, serve as the Debtor's counsel.  In its
petition, SeaPort estimated $1 million to $10 million in both
assets and liabilities.  The petition was signed by Timothy F.
Sieber, SeaPort's president.  A list of its 20 largest unsecured
creditors is available for free at
http://bankrupt.com/misc/orb16-30406.pdf


SEARS HOLDINGS: Force Capital Reports 4.7% Stake as of Dec. 31
--------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Force Capital Management, LLC disclosed that as of Dec.
31, 2015, it beneficially owns 5,195,671 shares of common stock of
Sears Holding Corporation representing 4.71 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/JscvCz

                           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.


SELECT MEDICAL: Moody's Rates New $625MM Term Loan 'Ba2'
--------------------------------------------------------
Moody's Investors Service assigned a Ba2 (LGD 2) rating to Select
Medical Corporation's proposed $625 million term loan due 2021.
Select Medical Corporation is a wholly owned subsidiary of Select
Medical Holdings Corporation (collectively Select). Select's other
ratings, including its B1 Corporate Family Rating and B1-PD
Probability of Default Rating are unchanged. The stable rating
outlook is also unchanged.

The proceeds of the new term loan will be used to fund the
previously announced acquisition of Physiotherapy Associates
Holdings Inc. (unrated) for $400 million in cash. The remainder
will be used to refinance Select's existing term loan due 2016.
Moody's continues to believe that the debt-financed acquisition of
Physiotherapy is credit negative for Select because it will delay a
reduction in leverage, which the rating agency had expected
following Select's acquisition of Concentra Inc. in June 2015.
However, the refinancing of the $218 million near term maturity of
a portion of the company's term loan will enhance Moody's view of
the company's liquidity position. Therefore, if the transaction is
completed as contemplated, Moody's will upgrade Select's
Speculative Grade Liquidity Rating (currently SGL-4).

The following rating has been assigned.

$625 million senior secured term loan due 2021, at Ba2 (LGD 2)

RATINGS RATIONALE

Select's B1 Corporate Family Rating reflects Moody's view that the
company will focus on reducing its considerable leverage through
synergies and margin expansion of the acquired businesses of
Physiotherapy and Concentra as well as the maturation of recently
opened specialty hospitals. The rating also reflects risks
associated with Select's continued concentration on the specialty
hospital segment for the majority of its EBITDA, which relies
predominantly on the Medicare program as a source of revenue.
Supporting the rating is Moody's consideration of Select's
significant scale and position as one of the largest LTCH operators
and outpatient rehabilitation providers in the US.

The ratings could be upgraded if Moody's expects the company to
maintain debt/EBITDA below 4.0 times either through debt repayment
or EBITDA growth. Additionally, Moody's would have to be
comfortable that the current operations could absorb negative
regulatory developments at the higher rating level. The company
would also have to improve its liquidity position.

Moody's could downgrade the ratings if adverse developments in
Medicare regulations or reimbursement result in significant
deterioration in margins or cash flow coverage metrics. The ratings
could also be downgraded if the company completes a material debt
financed acquisition, shareholder distribution or share repurchase,
such that debt to EBITDA is expected to be sustained above 5.0
times. The ratings could also be downgraded if the company's
liquidity deteriorates.

Headquartered in Mechanicsburg, PA, Select provides long-term acute
care hospital services and inpatient acute rehabilitative care
through its specialty hospital segment. The company also provides
physical, occupational, and speech rehabilitation services through
its outpatient rehabilitation segment. Through the joint venture
partnership with affiliates of Welsh, Carson, Anderson & Stowe, the
company is also a majority interest owner of MJ Acquisition
Corporation, the direct parent of Concentra Inc. Concentra's
services include workers' compensation injury care, physical exams
and drug testing for employers, and wellness and preventative care.
Select's consolidated revenue for the twelve months ended September
30, 2015 was in excess of $3.4 billion.


SELECT MEDICAL: S&P Lowers Rating on $625MM Secured Debt to 'B+'
----------------------------------------------------------------
Mechanicsburg, Pa.-based Select Medical Corp. is issuing a $625
million series F term loan to fund its previously announced
acquisition of U.S.-based outpatient physical rehabilitation
provider Physiotherapy Associates Holdings Inc. and to refinance
its existing series D term loan.

Standard & Poor's Ratings Services lowered its ratings on Select
Medical Corp.'s secured debt to 'B+' from 'BB-' and revised the
recovery rating on this debt to '3' from '2'. The '3' recovery
rating indicates S&P's expectation of meaningful (50% to 70%, on
the higher end of the range) recovery in a default.

S&P also assigned a 'B+' issue-level rating and '3' recovery rating
to the new $625 million series F term loan.

The 'B-' rating on the unsecured notes is unchanged; the recovery
rating on this debt remains '6'.

The corporate credit rating on Select Medical remains 'B+' and the
outlook is negative.

"The downgrade on the secured debt reflects deterioration in
recovery prospects for secured debtholders primarily stemming from
the material increase in first-lien debt associated with the
Physiotherapy acquisition," said Standard & Poor's credit analyst
David Kaplan. "The new issuance increases first-lien debt as a
proportion of total debt, reducing the relative advantage of first
lien lenders, in the event of default," he added.

S&P's negative outlook on Select Medical reflects heightened
uncertainty relating to the financial impact from the adverse
change in patient eligibility criteria for LTAC services which
begin to go into effect in October 2015. S&P sees the potential for
leverage to rise and remain above 5x in 2016 and beyond stemming
from increased pressures on revenue and margins.

S&P said, "We could lower our rating if we conclude that adjusted
debt leverage will likely remain above 5x on a sustained basis.
This could occur in 2017 if margins contract by 100 basis points
and the company allocates free cash flow primarily for shareholder
returns.

"We could revise the outlook to stable if we gain confidence the
company will maintain leverage below 5x on a sustained basis,
either by limiting  revenue loss in its LTAC business, managing its
costs well enough to offset margin pressures, or prioritizing debt
reduction."


SEQUENOM INC: Palo Alto, et al., Report 8.4% Stake as of Dec. 31
----------------------------------------------------------------
Palo Alto Investors, LLC, Patrick Lee, MD and Anthony Joonkyoo Yun,
MD disclosed in an amended Schedule 13G filed with the Securities
and Exchange Commission that as of Dec. 31, 2015, they beneficially
own 10,023,842 shares of common stock of Sequenom Inc. representing
8.45 percent of the shares outstanding.  A copy of the regulatory
filing is available at http://is.gd/Q0RbzV

                         About Sequenom

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

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

"If we fail to generate enough cash flow from our operations or
otherwise obtain the capital necessary to fund our operations, our
financial results, financial condition and our ability to continue
as a going concern will be adversely affected and we will have to
cease or reduce further commercialization efforts or delay or
terminate some or all of our diagnostic testing services or other
product development programs," the Company said in its 2014 annual
report.


SEVENTY SEVEN ENERGY: May File for Bankruptcy
---------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that publicly traded oilfield services company Seventy
Seven Energy Inc., which recently hired restructuring advisers,
said on Feb. 17 it may need to file for bankruptcy if it can't
reach a deal to slash its debts.

According to the report, the Oklahoma City company, which was spun
off of Chesapeake Energy Corp. in 2014, cited the shakeout in the
oil patch for its need to restructure some $1.6 billion in funded
debt.  Seventy Seven Energy said it's "actively exploring and
evaluating" such debt-cutting strategies as repurchases, exchanges
or debt-for-equity swaps, among other actions, though it warned
such efforts may not be successful outside of bankruptcy court, the
report related.

                   *     *     *

The Troubled Company Reporter, on Jan. 26, 2016, reported that
Moody's Investors Service downgraded Seventy Seven Energy Inc.'s
(SSE) Corporate Family Rating to Caa3 from Caa1, its Probability of
Default Rating to Caa3-PD from Caa1-PD, and its senior unsecured
notes due 2022 to C from Caa3.  At the same time, SSE's Speculative
Grade Liquidity rating was affirmed at SGL-3.  The debts of SSE's
operating subsidiary, Seventy-Seven Operating LLC were downgraded
as follows: its senior secured term loan to Caa2 from B1 and its
senior unsecured notes due 2019 to Ca from Caa2. The rating outlook
remains negative.

The TCR, on Jan. 18, 2016, reported that Standard & Poor's Ratings
Services lowered its corporate credit rating on Oklahoma City-based
Seventy Seven Energy Inc. to 'CCC-' from 'CCC+'.  The outlook is
negative.

At the same time, S&P lowered its issue-level ratings on the
company's secured notes to 'CCC+' from 'B', unsecured notes to
'CCC-' from 'CCC+', and structurally subordinated unsecured notes
to 'C' from 'CCC-'.  The recovery rating on the senior secured
notes remains '1', indicating very high (90% to 100%) recovery,
the
recovery rating on the senior unsecured notes remains '3',
indicating meaningful (50% to 70%; at the lower half of the range)
recovery in the case of a payment default.  The recovery rating on
the subordinated notes remains '6', indicating negligible (0% to
10%) recovery in the case of a payment default.


SFX ENTERTAINMENT: Bankruptcy Triggers Nasdaq Delisting
-------------------------------------------------------
The Nasdaq Stock Market notified SFX Entertainment, Inc., on
February 1, 2016, that it has determined that the Company's common
stock will be delisted from the Exchange pursuant to Listing Rules
5101 and 5110(b), which provide the Exchange broad discretionary
authority with respect to continued listing, including in the event
of bankruptcy.  Accordingly, unless the Company requests an appeal
of this determination, trading of the Company's common stock would
be suspended at the opening of business on February 10, 2016, and a
Form 25-NSE would be filed with the SEC, which would remove the
Company's securities from listing and registration on the Exchange.


Specifically, the Notice stated that in reaching its determination,
the Exchange noted the Company's filing of the Bankruptcy
Petitions, concerns regarding the residual value of the common
stock, and concerns about the Company's ability to sustain
compliance with all requirements for continued listing on the
Exchange.  The Exchange also cited non-compliance with Listing Rule
5450(a)(1), which relates to the minimum bid price for the common
stock required for continued listing, and with Listing Rules
5635(c) and 5635(d)(2), which relate to the requirement for advance
shareholder approval in connection with certain stock issuances.  

The Company said it does not intend to appeal the delisting
determination, and expected the common stock would be delisted from
the Exchange.

                      About SFX Entertainment

Headquartered in New York, New York, SFX Entertainment, with
approximately $312 million in pro-forma revenues, is a producer of
live events and media and entertainment content focused
exclusively on electronic music culture.

SFX Entertainment, Inc., and 43 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10238 to
16-10281) on Feb. 1, 2016.  The petitions were signed by Michael
Katzenstein as chief restructuring officer.

The Debtors disclosed total assets of $661.6 million and total
debts of $490.2 million.

Greenberg Traurig, LLP serves as the Debtors' counsel.   Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.  

Judge Mary F. Walrath is assigned to the case.


SFX ENTERTAINMENT: Has Interim Approval of $87.6M DIP Loan
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware on Feb. 9,
2016, granted, on an interim basis, the request of SFX
Entertainment, Inc. and its affiliated debtors to dip their hands
into a Senior Secured Super-Priority Debtor-in-Possession Credit
Agreement, dated as of February 10, 2016, arranged by Wilmington
Savings Fund Society, FSB, as Administrative Agent.

The DIP Credit Agreement provides for a multiple-draw, senior
secured, super-priority debtor-in-possession term loan facility in
an aggregate principal amount of up to $87.6 million, which
consists of:

     -- tranche A loans up to $30.0 million made by the tranche A
        lenders; and

     -- tranche B loans up to $57.6 million made by the tranche B
        lenders.

However, the Tranche B DIP Facility shall be reduced on a
dollar-for-dollar basis by an amount equal to the aggregate
principal amount of any extensions of credit made by the Tranche B
Lenders or any of their affiliates (or an entity or affiliate of an
entity that administers, advises or manages any Tranche B Lender)
under a facility agreement, dated as of January 14, 2016, by and
among SFXE Netherlands Holdings Cooperatief U.A., a wholly-owned
subsidiary of the Company, as the borrower, the Supporting Parties,
as lenders, and Stichting Grabrok, as facility and security agent,
which credit facility agreement was assigned by Catalyst Fund
Limited Partnership V to the Supporting Parties on February 10,
2016.  The Supporting Parties are certain holders of the Company's
9.625% second lien senior secured notes due 2019.

At the time it filed the Chapter 11 petitions, the Company said the
DIP Credit Agreement was still under negotiation between the
Debtors and the Supporting Parties, and that the DIP Financing
contemplates a multiple-draw, senior secured, super-priority
debtor-in-possession term loan facility in an aggregate principal
amount of up to $115.0 million, which consists of tranche A loans
up to $30.0 million made by the tranche A lenders and tranche B
loans up to $85.0 million made by the tranche B lenders.

On February 10, 2016, the Company made an initial $43.0 million
draw from the DIP Facility, consisting of $30.0 million from the
Tranche A Facility and $13.0 million of the Tranche B Facility.

Under the DIP Credit Agreement, the Company may request up to $15.0
million of additional loans under the Tranche B DIP Facility,
subject to the consent of the Tranche B Lenders. The Filing
Subsidiaries have guaranteed the obligations of the Company under
the DIP Facility pursuant to the terms and conditions of the DIP
Credit Agreement. Subject to certain exceptions, carve-outs and
permitted liens as set forth in the DIP Credit Agreement, the
obligations under the DIP Facility are secured by first priority
perfected security interests and liens on substantially all of the
assets of the Debtors in accordance with the relevant provisions of
the Bankruptcy Code.

Outstanding amounts under the Tranche A DIP Facility will bear an
interest rate of 12% per annum, payable in cash in arrears on a
monthly basis, and outstanding amounts under the Tranche B DIP
Facility will bear an interest rate of 10% per annum, payable
in-kind in arrears on a monthly basis. Upon an event of default
under the DIP Credit Agreement, an additional 2% per annum will be
added to each respective interest rate, payable in cash in respect
of the Tranche A DIP Facility and payable in-kind in respect of the
Tranche B DIP Facility.

The DIP Credit Agreement also provides for the payment of:

      (i) an up-front commitment fee, payable in cash, equal to
          2% of the Tranche A DIP Facility to the Tranche A
          Lenders; and

     (ii) commitment fees, payable in kind, equal to 2% of the
          Tranche A DIP Facility to the Tranche A Lenders and 4%
          of the Tranche B DIP Facility to the Tranche B Lenders.

Commitment fees payable in-kind will be added to the principal
amounts outstanding under the Tranche A DIP Facility and the
Tranche B DIP Facility and interest will accrue thereon. The
Company may voluntarily prepay the Tranche A DIP Facility with the
net cash proceeds from certain asset sales. The DIP Credit
Agreement does not contain any mandatory prepayments.

The DIP Facility will terminate on the earliest to occur of:

     (i) January 31, 2017,

    (ii) 45 after the Petition Date, if the Bankruptcy Court
         has not yet entered a final order approving the terms of
         the DIP Facility,

   (iii) the effective date of the Plan of Reorganization,

    (iv) the date on which the DIP Facility loans are accelerated
         and the unfunded amounts of the DIP Facility are
         terminated in accordance with the DIP Credit Agreement,
         by operation of law or otherwise; and

     (v) the consummation of a sale of all or substantially all of
         the assets of the Company and its subsidiaries pursuant
         to Section 363 of the Bankruptcy Code.

Upon the Termination Date, all outstanding amounts under the DIP
Facility plus any accrued and unpaid interest or additional fees
become immediately due and payable, except to the extent that the
outstanding DIP Facility loans are converted into new debt or
equity in the Reorganized Company upon the Effective Date pursuant
to a Restructuring Support Agreement.

On February 10, 2016, the Company made an initial $43.0 million
draw from the DIP Facility, consisting of $30.0 million from the
Tranche A Facility and $13.0 million of the Tranche B Facility,
which were used in part to pay the Cash Commitment Fee and to fully
satisfy the amounts due to Catalyst under the Amended and Restated
Credit Agreement, dated as of September 17, 2015, by and among the
Company, as the borrower, the lenders party thereto, and Catalyst,
as successor administrative agent (as amended by that certain First
Forbearance Agreement and First Amendment to Credit Agreement,
dated as of December 31, 2015.

The Debtors are subject to certain covenants and restrictions under
the DIP Credit Agreement, including, without limitation,
restrictions on the incurrence of additional debt, liens, and
making restricted payments; compliance with certain
bankruptcy-related covenants; financial and operational reporting
and approval requirements; disposition of assets; and achievement
of certain milestones for progress in the Bankruptcy Court
proceedings and in the restructuring transaction; in each case, as
set forth in the DIP Credit Agreement and/or the order(s) of the
Bankruptcy Court.

                      About SFX Entertainment

Headquartered in New York, New York, SFX Entertainment, with
approximately $312 million in pro-forma revenues, is a producer of
live events and media and entertainment content focused
exclusively on electronic music culture.

SFX Entertainment, Inc., and 43 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10238 to
16-10281) on Feb. 1, 2016.  The petitions were signed by Michael
Katzenstein as chief restructuring officer.

The Debtors disclosed total assets of $661.6 million and total
debts of $490.2 million.

Greenberg Traurig, LLP serves as the Debtors' counsel.   Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.  

Judge Mary F. Walrath is assigned to the case.


SFX ENTERTAINMENT: Inks RSA Forbearance Agreement
-------------------------------------------------
SFX Entertainment, Inc. and its affiliated debtors entered into a
Restructuring Support Agreement, dated as of January 31, 2016, by
and among the Debtors, on behalf of themselves and their respective
domestic and controlled foreign subsidiaries and controlled
affiliates, certain holders of the Company's 9.625% second lien
senior secured notes due 2019 -- Supporting Parties -- and Mr.
Robert F.X. Sillerman, the Company's Chairman and Chief Executive
Officer.

On February 10, 2016, the RSA Parties entered into an RSA
Forbearance Agreement, which RSA Forbearance Agreement provides for
a forbearance period through the earlier to occur of February 23,
2016 or the occurrence of certain events as set forth in the RSA
Forbearance Agreement, during which period (i) each RSA Party will
not exercise its rights against any other RSA Party with respect to
any termination right that any RSA Party may have had under to the
Restructuring Support Agreement and (ii) the Company will not
exercise any rights it may have pursuant to a determination that
any action or inaction would be inconsistent with or a breach the
fiduciary obligations of its directors or officers, in each case,
prior to the date of the RSA Forbearance Agreement.

The RSA Parties also agreed, among other things, to work together
in good faith during the Forbearance Agreement to modify the terms
of the restructuring transaction, as set forth in the Restructuring
Support Agreement including the Restructuring Term Sheet attached
thereto, and to amend and restated the Restructuring Support
Agreement.

The commencement of the Chapter 11 Cases constituted an event of
default under:

     i) the Amended and Restated Credit Agreement, dated as of
        September 17, 2015, by and among the Company, as the
        borrower, the lenders party thereto, and Catalyst Fund
        Limited Partnership V, as successor administrative agent
        (as amended by that certain First Forbearance Agreement
        and First Amendment to Credit Agreement, dated as of
        December 31, 2015) -- US Credit Facility -- and

    ii) the facility agreement, dated as of January 14, 2016, by
        and among SFXE Netherlands Holdings Cooperatief U.A., a
        wholly-owned subsidiary of the Company, as the borrower,
        Catalyst, as lender, and Catalyst Media Cooperatief U.A.,
        as facility and security agent -- Foreign Credit
        Facility

As a result of the filing of the Chapter 11 Cases, all commitments
under the US Credit Facility and the Foreign Credit Facility were
terminated and the principal amount of all outstanding loans
(together with accrued and unpaid interest thereon) and all other
amounts outstanding under such facilities became immediately due
and payable. As of January 31, 2016, the aggregate principal amount
outstanding under the US Credit Facility and the Foreign Credit
Facility was $50.0 million.

In addition, the commencement of the Chapter 11 Cases constituted
an event of default under the Second Lien Indenture. As a result of
the filing of the Chapter 11 Cases, all unpaid principal and
accrued and unpaid interest on the Second Lien Notes became
immediately due and payable. As of January 31, 2016, the
outstanding principal amount of Second Lien Notes was $295.0
million.

As a result of the filing of the Chapter 11 Cases, the Company
believes that the ability of the Debtors' creditors to seek
remedies to enforce their respective rights against the Debtors
under these and other agreements are stayed and creditor rights of
enforcement against the Debtors are subject to orders of the
Bankruptcy Court and the applicable provisions of the Bankruptcy
Code and certain contractual agreements.

The RSA provides that the Company's US Credit Facility and Foreign
Credit Facility will be repaid in full with the proceeds from the
DIP Facility as provided in the DIP Credit Agreement.  

Upon the effective date of the Plan, each Tranche A Lender will
either be paid in full in cash or convert into a new first lien
loan facility in the reorganized Company in accordance with the RSA
Term Sheet.

Upon the Effective Date, each Tranche B Lender will receive its pro
rata share of the following equity interests in the Reorganized
Company: (i) 100% of the Series A Preferred Stock; (ii) 50% of the
Common Stock; (iii) Series A Warrants; and (iv) Series B Warrants.

All claims for unpaid principal, interest, fees, costs and other
amounts arising under or in connection with the Second Lien Notes
will convert into 50% of the Common Stock in the Reorganized
Company in full satisfaction, settlement, discharge and release of,
and in exchange for, the Noteholder Claims.

Holders of general unsecured claims against the Company will not
receive recovery, except for certain holders of such claims that
may receive payment pursuant to critical vendor motions or other
motions filed in connection with the Chapter 11 Cases in accordance
with the Restructuring Support Agreement and as otherwise ordered
by the Bankruptcy Court.  On the Effective Date, the Company's
preferred stock and common stock, together with any options,
warrants or other rights with respect to the Company's equity
interests, will be extinguished and cancelled, and the holders
thereof will not receive a distribution on account of such
interests.

The RSA also provides that upon the Effective Date, the Reorganized
Company will be a private company.  The Reorganized Company would
have this capital structure:

     -- Exit Facility for a principal amount equal to the
        then-accrued, unpaid balance of the Tranche A DIP
        Facility;

     -- Series A Preferred Stock with a face amount equal to the
        unpaid amount of the Tranche B DIP Facility, including any
        unpaid Incremental Tranche B Loans;

     -- Common Stock which will entitle the holders thereof to
        100% of the equity value of the Reorganized Company after
        the redemption of the Series A Preferred Stock, subject to
        the exercise of the Series A Warrants and Series B
        Warrants;

     -- Series A Warrants which will be exercisable upon a
        Liquidity Event (as defined in the RSA Term Sheet) where
        the enterprise value of the Reorganized Company is equal
        to:

             (i) $276.25 million plus
            (ii) 1.75 times the amount of any committed amount
                 under the Incremental Tranche B Loans, if any;
                 and

     -- Series B Warrants which will be exercisable upon a
        Liquidity Event where the enterprise value of the
        Reorganized Company is equal to (i) the Series A Warrant
        Strike Price plus (ii) $150 million.

                      About SFX Entertainment

Headquartered in New York, New York, SFX Entertainment, with
approximately $312 million in pro-forma revenues, is a producer of
live events and media and entertainment content focused
exclusively on electronic music culture.

SFX Entertainment, Inc., and 43 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10238 to
16-10281) on Feb. 1, 2016.  The petitions were signed by Michael
Katzenstein as chief restructuring officer.

The Debtors disclosed total assets of $661.6 million and total
debts of $490.2 million.

Greenberg Traurig, LLP serves as the Debtors' counsel.   Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.  

Judge Mary F. Walrath is assigned to the case.


SFX ENTERTAINMENT: Six-Month Cash Flow Budget Through July 2016
---------------------------------------------------------------
Prior to the execution by SFX Entertainment of the DIP Credit
Agreement, the Company and its advisors shared certain non-public
information regarding the Company with certain holders of the
Company's 9.625% Second Lien Secured Notes Due 2019.  The
Non-Public Information was shared with the Restricted Parties and
their advisors on and after November 23, 2015, pursuant to a series
of confidentiality agreements entered into between the Company and
the Restricted Parties, in connection with discussions and
negotiations between the Restricted Parties and the Company.  Those
discussions and negotiations ultimately resulted in the execution
of the DIP Credit Agreement and the Restructuring Support
Agreement.

Specifically, the Non-public information is a 6-Month Cash Flow
Budget through July 2016.  A copy of the Budget forecast is
available at http://is.gd/7OEC9l

                      About SFX Entertainment

Headquartered in New York, New York, SFX Entertainment, with
approximately $312 million in pro-forma revenues, is a producer of
live events and media and entertainment content focused
exclusively on electronic music culture.

SFX Entertainment, Inc., and 43 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10238 to
16-10281) on Feb. 1, 2016.  The petitions were signed by Michael
Katzenstein as chief restructuring officer.

The Debtors disclosed total assets of $661.6 million and total
debts of $490.2 million.

Greenberg Traurig, LLP serves as the Debtors' counsel.   Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.  

Judge Mary F. Walrath is assigned to the case.


SHAPPHIRE RESOURCES: Post-Judgment Status Conference Set for March1
-------------------------------------------------------------------
The proposed Judgment for Turnover of Real Property of the Estate
and for Declaratory Relief, lodged by Shapphire Resources, LLC,
with the court on January 28, 2016, provides that the judgment
direct the use of the United States Marshals Service in the first
instance to forcibly remove Stanley Tambingon from the property
located at 2770 Cold Plains Drive, in Hacienda Heights,
California.

In an Order dated January 29, 2016, which is available at
http://is.gd/3kD5HZfrom Leagle.com, Judge Robert Kwan of the
United States Bankruptcy Court for the Central District of
California, Los Angeles Division, declined to enter the form
proposed by the Plaintiff and will enter a modified form of
judgment to be separately entered.

A post-judgment status conference is set for March 1, 2016, at 1:30
p.m. to address the procedure for turnover of the Property by
Defendant to Plaintiff.

Plaintiff Shapphire Resources, through its counsel of record,
Raymond H. Aver, Law Offices of Raymond H. Aver, and Defendant
Stanley Tambingon are ordered to appear for the post-judgment
status conference before the United States Bankruptcy Judge on
March 1, 2016 at 1:30 p.m.4. If Defendant has turned over the
Property to Plaintiff before the post-judgment status conference on
March 1, 2016 at 1:30 p.m., his appearance at the status conference
is not required.

The case is In re: SHAPPHIRE RESOURCES, LLC, Chapter 11, Debtor.
SHAPPHIRE RESOURCES, LLC, a Utah limited liability company,
Plaintiff, v. STANLEY TAMBINGON, an Individual, Defendant, Case No.
2:10-bk-57493-RK, Adv. No. 2:12-ap-02532-RK.

Shapphire Resources, LLC, Plaintiff, represented by Raymond H Aver,
Esq. -- Law Offices of Raymond H Aver APC.


SHELLS SEAFOOD: Claim Purchaser Entitled to Same Priority
---------------------------------------------------------
In a contested matter, the Court must determine whether the
purchaser of a priority claim is an assignee or a subrogee to
resolve the ultimate question of whether the claim purchaser is
entitled to the priority accorded to the original claimant's
claim.

JM Partners LLC acquired three claims and thereafter filed a Notice
of Transfer/Assignment of Claim for each.  The United States
Trustee objects to the claims and argues that JM was subrogated to
the rights of the wage claim holders when it acquired the claims
and, therefore, is not entitled to the priority status accorded to
wage claims.  In response, JM argues that it is an assignee of the
employees' wage claims and, as such, may assert the same priority
status the employees would possess.

In a Memorandum Opinion dated January 22, 2016, which is available
at http://is.gd/Aot7aQfrom Leagle.com, Judge Catherine Peek McEwen
of the United States Bankruptcy Court for the Middle District of
Florida, Tampa Division, concluded that JM was under no legal or
contractual obligation to purchase the wage claims of the Debtor's
employees and, as such, is merely an assignee of those claims and
entitled to assert the same priority the claims enjoyed in the
hands of the employees.

Accordingly, Judge McEwen overruled the Trustee's objection to
Claim Nos. 139-1, and 350-1 of JM Partners.

The case is In re: Shells Seafood Restaurant, Inc., Chapter 7,
Debtor, Case No. 8:08-bk-13440-CPM.

                    About Shells Seafood

Based in Tampa, Florida, Shells Seafood Restaurants, Inc. aka
Shells of Stuart-Monterey, manages and operates seafood restaurants
in Florida under the name "Shells".  The company filed for Chapter
11 relief on Sept. 2, 2008 (Bankr. M.D. Fla. Case No. 08-13440).
Don M. Stichter, Esq., at Stichter, Riedel, Blain & Prosser
represent the Debtor as counsel.  When the Debtor filed for
protection from its creditors, it listed assets of $1 million to
$10 million, and debts of $1 million to $10 million.


SIGA TECHNOLOGIES: Plan Confirmation Hearing Scheduled for April 5
------------------------------------------------------------------
BankruptcyData reported that SIGA Technologies filed with the U.S.
Bankruptcy Court an Amended Chapter 11 Plan and related Disclosure
Statement.

According to the disclosure statement, "On or as soon as reasonably
practicable after the later of (i) the Effective Date and (ii) the
date such General Unsecured Claim becomes Allowed, each holder of
an Allowed General Unsecured Claim will receive Cash in an amount
equal to such Allowed General Unsecured Claim up to Five Million
Dollars ($5,000,000), plus postpetition interest at the
Postpetition Interest Rate accrued from the Commencement Date to
the Effective Date.  

To the extent any such Allowed General Unsecured Claim is
$5,000,000 or less, such treatment will be in full settlement and
satisfaction of such Claim.  The PharmAthene Claim will be deemed
allowed to the extent of $5,000,000 on the Effective Date, if not
otherwise allowed in a greater amount on such date....The only
potential holder of an Allowed General Unsecured Claim in excess of
Five Million Dollars ($5,000,000) is PharmAthene.  PharmAthene will
receive in respect of the portion, if any, of the PharmAthene
Allowed Claim in excess of $5,000,000, in full settlement and
satisfaction of such Claim, the following: (i) Treatment on
PharmAthene Allowed Claim Treatment Date.  On the PharmAthene
Allowed Claim Treatment Date, treatment in accordance with one of
the following options, which option will be determined by the
Debtor or Reorganized Debtor, as applicable, in its sole and
absolute discretion: (A) Option 1: Payment in full in Cash of the
unpaid balance of the PharmAthene Allowed Claim.  Option 1 will
only be available if the PharmAthene Final Order provides for a
single lump sum payment, together with any interest, fees and
expenses included in such PharmAthene Final Order, to be paid to
PharmAthene (a 'Lump Sum Payment Award'); (B) Option 2: Treatment
of the PharmAthene Allowed Claim pursuant to and in compliance with
the provisions of the PharmAthene Final Order if, and only if, such
order provides for something other than a single lump sum payment
(plus any interest, fees and expenses included in such PharmAthene
Final Order) to be paid to PharmAthene (or an award of specific
performance))."

The Court scheduled a confirmation hearing on April 5, 2016, with
objections due by March 15, 2016.

                     About SIGA Technologies

Publicly held SIGA Technologies, Inc., with headquarters in
Madison Avenue, New York, is a biotech/pharmaceutical company that
specializes in the development and commercialization of solutions
for serious unmet medical needs and biothreats.  SIGA's lead
product is Tecovirimat, also known as ST-246, an orally
administered antiviral drug that targets orthopoxviruses.

SIGA sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case
No. 14-12623) on Sept. 16, 2014, in Manhattan.  The case is
assigned to Judge Sean H. Lane.

The Debtor has tapped Weil, Gotshal & Manges LLP, as counsel, and
Prime Clerk LLC as claims agent.

The Debtor's Chapter 11 plan and disclosure statement are due
May 14, 2015.

The Debtor disclosed total assets of $131,669,746 and $7,954,645
in liabilities as of the Chapter 11 filing.

The Statutory Creditors' Committee is represented by Martin J.
Bienenstock, Esq., Scott K. Rutsky, Esq., and Ehud Barak, Esq., at
Proskauer Rose LLP.  The Committee tapped to retain Guggenheim
Securities, LLC, as its financial advisor and investment banker.


SIMPLY WHEELZ: Court Approves Settlement with Merchants Automotive
------------------------------------------------------------------
Judge Edward Ellington of the U.S. Bankruptcy for the Southern
District of Mississippi approved the settlement among Simply Wheelz
LLC, f/d/b/a Advantage Rent A Car, Advantage Opco, Catalyst,
Merchants Automotive Group, Inc.

The settlement provides that Merchants' Proof of Claim will be
deemed withdrawn and Merchants will be deemed to have waived any
further claims against the Debtor.  The settlement also provides
that Advantage Opco will be exclusively responsible for paying all
administrative expense claims consisting of ad valorem taxes
asserted against the Debtor for any locations purchased by
Advantage Opco pursuant to the APA.  Advantage Opco has remitted
$250,000 for payment of certain administrative expenses of the
Debtor pursuant to a Non-Debtor Settlement Agreement.

It is further ordered that all objections to the Settlement Motion
or the relief requested therein that have not been withdrawn,
waived or settled, and all reservations of rights included therein,
are overruled on the merits and denied with prejudice.

Simply Wheelz LLC, f/d/b/a Advantage Rent A Car is represented by:

     Stephen W. Rosenblatt, Esq.
     Christopher R. Maddux, Esq.
     J. Mitchell Carrington, Esq.
     Thomas M. Hewitt, Esq.
     BUTLER SNOW LLP
     1020 Highland Colony Parkway, Suite 1400
     Ridgeland, MS 39157
     Telephone: (601) 985-4504
     Email: Steve.Rosenblatt@butlersnow.com
            Chris.Maddux@butlersnow.com
            Mitch.Carrington@butlersnow.com
            Thomas.Hewitt@butlersnow.com

        About Simply Wheelz

Simply Wheelz LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Miss. Case No. 13-03332) on Nov. 5,
2013.  The case is assigned to Judge Edward Ellingon.  The Debtor
disclosed $414 million in assets and $322 million in liabilities as
of the Chapter 11 filing.

The Debtor is represented by Stephen W. Rosenblatt, Esq.,
Christopher R. Maddux, Esq., J. Mitchell Carrington, Esq., and
Thomas M. Hewitt, Esq., at Butler Snow LLP of Ridgeland,
Mississippi.  Simply Wheelz tapped EPIQ Bankruptcy Solutions LLC as
noticing and claims agent, and Capstone Advisory Group, LLC, as
financial advisor.

As reported by the Troubled Company Reporter on Jan. 7, 2014, the
Bankruptcy Court has approved the sale of substantially all of the
Debtors' assets to The Catalyst Group, Inc., in exchange for the
$46 million loan that is financing the Chapter 11 reorganization.


SIMPLY WHEELZ: Court Dismisses Bankruptcy Case
----------------------------------------------
Judge Edward Ellington of the U.S. Bankruptcy Court for the
Southern District of Mississippi dismissed the bankruptcy case of
Simply Wheelz, LLC, d/b/a Advantage Rent-A-Car, pursuant to the
motion filed by Merchants Automotive Group, Inc.

In light of the dismissal of the bankruptcy case, Butler Snow is
not required to file a final fee application in the Bankruptcy Case
and the Debtor does not need authorization to pay fees and expenses
to Butler Snow.

Simply Wheelz LLC, f/d/b/a Advantage Rent A Car is represented by:

     Stephen W. Rosenblatt, Esq.
     Christopher R. Maddux, Esq.
     J. Mitchell Carrington, Esq.
     Thomas M. Hewitt, Esq.
     BUTLER SNOW LLP
     1020 Highland Colony Parkway, Suite 1400
     Ridgeland, MS 39157
     Telephone: (601) 985-4504
     Email: Steve.Rosenblatt@butlersnow.com
            Chris.Maddux@butlersnow.com
            Mitch.Carrington@butlersnow.com
            Thomas.Hewitt@butlersnow.com

        About Simply Wheelz

Simply Wheelz LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Miss. Case No. 13-03332) on Nov. 5,
2013.  The case is assigned to Judge Edward Ellingon.  The Debtor
disclosed $414 million in assets and $322 million in liabilities as
of the Chapter 11 filing.

The Debtor is represented by Stephen W. Rosenblatt, Esq.,
Christopher R. Maddux, Esq., J. Mitchell Carrington, Esq., and
Thomas M. Hewitt, Esq., at Butler Snow LLP of Ridgeland,
Mississippi.  Simply Wheelz tapped EPIQ Bankruptcy Solutions LLC as
noticing and claims agent, and Capstone Advisory Group, LLC, as
financial advisor.

As reported by the Troubled Company Reporter on Jan. 7, 2014, the
Bankruptcy Court has approved the sale of substantially all of the
Debtors' assets to The Catalyst Group, Inc., in exchange for the
$46 million loan that is financing the Chapter 11 reorganization.


SOMERSET REGIONAL: US Trustee Appoints Interim Chapter 11 Trustee
-----------------------------------------------------------------
A bankruptcy watchdog appointed a Chapter 11 trustee for Somerset
Regional Water Resources LLC.

Andrew Vara, acting U.S. trustee for Region 3, appointed Charles
Zebley, Esq., as interim trustee for the company.

Mr. Zebley will serve as trustee unless another one is elected at
the meeting of creditors, which usually takes place about 30 days
after a bankruptcy petition is filed.  

The meeting is called the "341 meeting" after the section of the
Bankruptcy Code that requires it.

Somerset Trust Co., which provided loan to get Somerset Regional
through bankruptcy, had asked for the appointment of an outside
trustee to oversee the company's operations after talks to expand
the role of its chief restructuring officer in lieu of a trustee
deteriorated.

The immediate appointment of the bankruptcy trustee was seen as
necessary in light of Somerset Regional's financial health.  

The company is barely generating any revenue and its monthly
operating reports show negative net cash flows and increasing debt,
according to Somerset Trust.

Somerset Regional had earlier admitted in court papers that it
defaulted on its payment obligations, which caused the termination
of its right to use cash collateral and allowed the secured
creditor to refuse to provide further loans.

"An independent fiduciary needs to be installed as soon as possible
to prevent any further diminution of the estate and harm to the
debtor's creditors," the company said in a motion it filed in the
U.S. Bankruptcy Court for the Western District of Pennsylvania.

The appointment was supported by the official committee
representing Somerset Regional's unsecured creditors and was
approved by the court on Feb. 9.

                          About Somerset

Somerset Regional Water Resources, LLC, filed a Chapter 11
bankruptcy petition (Bankr. W.D. Pa. Case No. 15-70766) on Nov. 9,
2015.  The petition was signed by Larry Mostoller, managing
member.

The Debtor estimated both assets and liabilities in the range of
$10 million to $50 million.  Robert O. Lampl, Attorney at Law,
represents the Debtor as counsel.

The Office of the U.S. Trustee appointed three creditors to the
official committee of unsecured creditors.  Leech Tishman Fuscaldo
& Lampl LLC represents the committee.


SPORTS AUTHORITY: Said to Be Closing 140 of 450 Outlets
-------------------------------------------------------
Molly Armbrister, writing for Denver Business Journal, reported
that Sports Authority plans to shutter as many as 140 of its 450
locations nationwide.

Maria Halkias, retail writer for the Dallas Morning News, reported
that the retailer is closing all 25 of its Texas stores, according
to store employees.

Sports Authority didn’t respond to a request for an interview,
Dallas Morning News said.

Englewood, Colo.-based Sports Authority Inc. is a sporting-goods
chain in the U.S.  Sports Authority was acquired in 2006 in a $1.4
billion leveraged buyout by Los Angeles-based private equity firm
Leonard Green & Partners.

The Company in January skipped a $21 million interest payment on
its $643 million in debt.  The Company has been widely reported to
be preparing to file for bankruptcy as it faced a debt payment.
According to various reports, the Company was reportedly in talks
with lenders including TPG Capital Management on a deal to
reorganize in Chapter 11 bankruptcy proceedings.

                       *     *     *

As reported by the Troubled Company Reporter on Jan. 22, 2016,
Moody's Investors Service downgraded The Sports Authority Inc.'s
Corporate Family Rating and $300 million secured term loan due
2017 rating to Caa3 from Caa1 due to the company's announcement
that it elected to not make the approximately $21 million
subordinated notes interest payment that was due Jan. 15, 2016.
The ratings outlook is negative.


SPRINT INDUSTRIAL: S&P Ratings on Watch Neg on Likely Default
-------------------------------------------------------------
Standard & Poor's Ratings Services said it placed all its ratings,
including its 'CCC' corporate credit rating, on Houston-based
Sprint Industrial Holdings LLC on CreditWatch with negative
implications.

The CreditWatch placement reflects its belief that the company is
likely to default in the next 90 days or less unless it can
negotiate favorable waiver or amendment terms with revolver
lenders. Sprint is on track to violate its first-lien senior
secured leverage covenant on its revolving credit facility, which
likely will force the company to seek an amendment from its lenders
or to raise capital from its private equity sponsor. Sprint's
revolving credit facility is subject to a springing maximum
first-lien senior secured leverage ratio covenant when more than
20% of the facility's committed amount is drawn.

The covenant stepped down to 5x in Dec. 31, 2015, and the revolving
credit facility is nearly fully drawn. S&P believes the company
will not be able to meet the financial covenant over the next 12
months. S&P believes that Sprint is engaged in ongoing discussions
with its revolving credit facility lenders to secure a permanent
amendment to its credit facilities to provide covenant relief.
However, the discussions around a resolution are taking longer than
S&P previously expected.

"We will likely lower the ratings if it appears unlikely that the
company will successfully negotiate covenant amendments or obtain
an equity cure in a timely manner. We could also lower the ratings
if we believe default, a distressed exchange, or redemption appears
to be inevitable in the next six months," said Standard & Poor's
credit analyst Svetlana Olsha.

"We could affirm the rating if the company successfully negotiates
an amendment with lenders and if we believe there is sufficient
liquidity and cushion under the amendment given weak business
prospects in 2016, said S&P.


SSNN-5532-34: Case Summary & 6 Unsecured Creditors
--------------------------------------------------
Debtor: SSNN-5532-34 S. Kimbark, LLC
        P.O. Box 3124
        Oak Brook, IL 60522

Case No.: 16-04994

Chapter 11 Petition Date: February 17, 2016

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

Judge: Hon. Pamela S. Hollis

Debtor's Counsel: Gregory K Stern, Esq.
                  GREGORY K. STERN, P.C.
                  53 West Jackson Blvd., Suite 1442
                  Chicago, IL 60604
                  Tel: 312 427-1558
                  Fax: 312 427-1289
                  Email: gstern1@flash.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

Largest unsecured creditor: Ridgestone Bank, $750,987

The petition was signed by Sunil K. Srivastava, managing member.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-04994.pdf


SSNN-RESIDENTIAL: Case Summary & 8 Unsecured Creditors
------------------------------------------------------
Debtor: SSNN-Residential, LLC
        P.O. Box 3124
        Oak Brook, IL 60522

Case No.: 16-04997

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: February 17, 2016

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

Judge: Hon. Pamela S. Hollis

Debtor's Counsel: Gregory K Stern, Esq.
                  GREGORY K. STERN, P.C.
                  53 West Jackson Blvd., Suite 1442
                  Chicago, IL 60604
                  Tel: 312 427-1558
                  Fax: 312 427-1289
                  Email: gstern1@flash.net

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

Estimated Liabilities: $1 million to $10 million

Largest unsecured creditor: JP Morgan Chase
Bank, N.A., $980,063.

The petition was signed by Sunil K. Srivastava, managing member.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/ilnb16-04997.pdf


STANDARD INDUSTRIES: S&P Raises CCR From BB on Improved Earnings
----------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Standard Industries Inc. to 'BBB-' from 'BB+'. The
outlook is stable.

At the same time, S&P raised its issue-level ratings on the
company's $1.1 billion 5 3/8% senior unsecured notes due 2024 and
$1.1 billion 6% senior unsecured notes due 2025 to 'BBB-' from
'BB+'.

"The stable outlook reflects Standard & Poor's expectation that the
company's leverage measures will remain in line with a significant
financial risk profile in the next two years because we expect
improved employment, consumer confidence, and higher housing starts
in the U.S to increase demand for roofing materials," said Standard
& Poor's credit analyst Kimberly Garen.

"We also expect that the Icopal acquisition will generate modest
growth in sales and earnings in Europe for the company as that
economy improves. Given our expectation of a gradually improving
U.S. economy, we expect Standard to generate significant cash flow
and maintain leverage of about 2.5x to 3.0x and FFO to debt of
about 25% over the next two years."

S&P said, "We consider a downgrade unlikely within the next two
years, given the expected improvement in the company's operating
environment and the company's broadened scale and geographic
diversity into the European roofing market. However, we could lower
the rating if roof replacement demand deteriorates significantly or
if profitability declines because of raw material cost pressures,
energy cost increases, or severe price competition that results in
Standard's forecast EBITDA declining about 35% from projected
levels, resulting in leverage in excess of 4x on a sustained basis.
Similarly, we would consider lowering the ratings if Standard takes
aggressive financial actions, such as debt-financed shareholder
distributions or acquisitions that result in a longer-term increase
in its debt leverage to above 4x."

Given Standard Industries relatively narrow product focus --
limited to roofing products -- S&P views an upgrade as unlikely
over the next two years. However, S&P could raise the ratings if
the company further expands its geographic and product diversity
while achieving cash flow leverage measures in the intermediate
category, including debt leverage of 2x to 3x, FFO to debt greater
than 30%, and interest coverage greater than 5x. S&P would also
expect that the company will maintain a prudent financial policy by
managing returns to owners and other debt-financed initiatives at
levels that maintain investment grade financial measures.


STEREOTAXIS INC: DAFNA Capital Holds 6.4% Stake as of Dec. 31
-------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, DAFNA Capital Management, LLC, Nathan Fischel and
Fariba Ghodsian disclosed that as of Dec. 31, 2015, they
beneficially own 1,372,862 shares of common stock of Stereotaxis
Inc. representing 6.37 percent of the shares outstanding.  A copy
of the regulatory filing is available at http://is.gd/uG1Z3z

                           About Stereotaxis

Based in St. Louis, Missouri, Stereotaxis, Inc., is a manufacturer
and developer of a suite of navigation systems in interventional
surgical procedures.  The Company's Epoch Solution is used in the
treatment of arrhythmias and coronary artery disease.

Stereotaxis reported a net loss of $5.20 million in 2014, a net
loss of $68.8 million in 2013 and a net loss of $9.23 million in
2012.

As of Sept. 30, 2015, the Company had $18.63 million in total
assets, $35.21 million in total liabilities and a $16.57 million
total stockholders' deficit.

Ernst & Young LLP, in St. Louis, Missouri, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has incurred recurring
operating losses and has a net capital deficiency.  These
conditions raise substantial doubt about the Company's ability to
continue as a going concern.


SUN BANCORP: EJF Capital Reports 5.5% Stake as of Dec. 31
---------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, EJF Capital LLC, Emanuel J. Friedman, EJF Financial
Services Fund, LP and EJF Financial Services GP, LLC. disclosed
that as of Dec. 31, 2015, they beneficially own 1,027,207 shares of
common stock of Sun Bancorp, Inc., representing 5.5 percent based
on 18,688,789 shares of common stock outstanding as of Dec. 31,
2015, as disclosed in the Issuer's Form 8-K filed with the SEC on
Feb. 2, 2016.  A copy of the regulatory filing is available for
free at http://is.gd/ADCgQF

                    About Sun Bancorp. Inc.

Sun Bancorp, Inc. is a bank holding company headquartered in Mount
Laurel, New Jersey.  Its primary subsidiary is Sun National Bank, a
community bank serving customers throughout New Jersey.  Sun
National Bank -- http://www.sunnationalbank.com/-- is an Equal    

Housing Lender and its deposits are insured up to the legal maximum
by the Federal Deposit Insurance Corporation (FDIC).

Sun Bancorp reported a net loss available to common shareholders of
$29.8 million in 2014, a net loss available to common shareholders
of $9.94 million in 2013, and a net loss available to common
shareholders of $50.49 million in 2012.


SUNEDISON INC: Barred from Asset Transfers in $150M Arbitration
---------------------------------------------------------------
Jack Newsham at Bankruptcy Law360 reported that a group of South
American investors seeking $150 million from troubled renewables
developer SunEdison for allegedly abandoning a $733 million
acquisition won an order in New York state court on Feb. 11, 2016,
morning temporarily barring it from socking away funds that could
be used to pay an arbitral award.

SunEdison Inc. and units SunEdison Holdings Corp. and TerraForm
Power Inc. were hit with a lawsuit on Feb. 10, 2016, by
shareholders of Latin America Power Holding BV seeking
$150 million to satisfy a possible arbitral award against SunEdison
for backing out.

                          *     *     *

As reported by the Troubled Company Reporter on Dec. 24, 2015,
Standard & Poor's Ratings Services lowered its corporate credit
rating on TerraForm Power Inc. (TERP) to 'B-' from 'B+'.  The
outlook is negative.

At the same time, S&P lowered the rating on TerraForm Power
Operating LLC's senior unsecured debt to 'B-' from 'B+'.  The
recovery rating on this debt is '4', indicating expectations of
average (30% to 50%; upper half of the range) recovery if a default
occurs.

S&P is lowering its corporate credit rating on TerraForm Global
Inc. (GLBL) to 'B' from 'B+'.  The outlook is negative.  At the
same time, S&P is lowering its rating on Terraform Global Operating
LLC's senior unsecured debt to 'B' from 'B+' and on the senior
secured debt to 'BB-' from 'BB'.  The recovery rating on the senior
unsecured debt is '3', indicating S&P's expectation of meaningful
(50% to 70%; upper half of the range) recovery if a default occurs.


TAYLOR-WHARTON: Committee Has EisnerAmper as Financial Advisor
--------------------------------------------------------------
U.S. Bankruptcy Judge Brendan L. Shannon has authorized the
Official Committee of Unsecured Creditors in Taylor-Wharton
International LLC's case to retain EisnerAmper LLP as its Financial
Advisor, nunc pro tunc to October 16, 2015.  

The Committee made some revisions to the retention to reflect the
objections raised by the U.S. Trustee.

It is anticipated that EisnerAmper will render professional
services to the Committee, including, without limitation, the
following:

  a) Analyzing the financial operations of the Debtors pre- and
post-petition as necessary;

  b) Performing forensic investigating services as requested by the
Committee and counsel regarding pre-petition activities of the
Debtors in order to identify potential causes of action as
necessary;

  c) Performing claims analysis for the Committee, as necessary;

  d) Verifying the physical inventory of supplies, equipment and
other material assets and liabilities, as necessary;

  e) Assisting the Committee in its analysis and review of monthly
statements of operations to be submitted by the Debtors;

  f) Analyzing the Debtors' budgets, cash flow projections, cash
disbursements, restructuring programs, selling and general
administrative expense structure and other reports or analyses
prepared by the Debtors or its professionals in order to advise the
Committee on the status of the Debtors' operations;

  g) Analyzing transactions with insiders, related and/or
affiliated companies;

  h) Preparing and submitting reports to the Committee as
necessary;

  i) Assisting the Committee in its review of the financial aspects
of a plan of reorganization or liquidation, if any, to be submitted
by the Debtors;

  j) Attending meetings of Creditors and conferences with
representatives of the creditor groups and their counsel;

  k) Preparing hypothetical orderly liquidation analyses, as
necessary;

  l) Monitoring, participating in and consulting with the Committee
in regard to the marketing, and sale of any of the Debtors' assets
as necessary;

  m) Analyzing the tax ramifications of any proposed transactions
with non-debtor, foreign subsidiaries as necessary;

  n) Analyzing the financial ramifications of any proposed
transactions for which the Debtors seeks Bankruptcy Court approval
including, but not limited to, post-petition financing, sale of all
or a portion of the Debtors' assets, management compensation and/or
retention and severance plans;

  o) Providing assistance, including expert testimony, and analysis
in support of potential litigation (including avoidance actions)
that may be investigated and/or prosecuted by the Committee as
necessary; and

  p) Any other services in which the Committee requests its
Financial Advisor to perform.

EisnerAmper will bill at its normal hourly rates:

         Directors/Partners $425-$625
         Managers/Senior Managers $280-$420
         Associates/Seniors $160-$390
         Paraprofessionals $130-$175

The principal professionals at EisnerAmper designated to represent
the Committee are:

     Wayne P. Weitz (Managing Director) $600
     William Pederson (Director) $490
     Georgiana Nertea (Senior Manager) $390
     Various Associates as needed $160-$390
     Stephanie Prinston (Paraprofessional) $175

It is EisnerAmper's policy to charge its clients in all areas of
practice for all other out-of-pocket expenses incurred in
connection with the client's engagement.

Wayne P. Weitz, a Managing Director of EisnerAmper, assures the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

                    U.S. Trustee Objection

Andrew R. Vara, Acting United States Trustee for Region 3, filed an
objection.

EisnerAmper seeks to be indemnified and paid “from the Debtors’
estates for any fees or costs arising out of the successful defense
of any fee application by [the Firm] in response to any objection
to its fees or expenses in these cases pursuant to section 328(a)
of the Bankruptcy Code” to the fullest extent permitted by law.

According to the U.S. Trustee, the Fee Defense Provisions violate
the Code and the American Rule, ignore the express directives of
the United States Supreme Court, and are otherwise unreasonable.
The Supreme Court recently held that section 330(a) does not
authorize a court to approve a law firm’s fee for litigating its
fee application.  The Firm, the U.S. Trustee argues, cannot
circumvent ASARCO by having the same fees approved as a term or
condition of its employment under section 328(a).

In response, Julia B. Klein, Esq., representing the Committee,
stated that the professionals are neither seeking to circumvent
Asarco nor obtain pre-approval of fees, if any, that may be
incurred in connection with litigation of fee disputes (should that
even occur).   Rather, the Proposed Language preserves the
Committee professionals’ rights to seek indemnification and only
to the extent permitted by law.  

                       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: Committee Retains Rosner as Delaware Counsel
------------------------------------------------------------
U.S. Bankruptcy Judge Brendan L. Shannon has authorized the
Official Committee of Unsecured Creditors in Taylor-Wharton
International LLC's case to retain The Rosner Law Group LLC as its
Delaware counsel nunc pro tunc to October 16, 2015.  

The Committee made some revisions to the retention to reflect the
objections raised by the U.S. Trustee.

The Committee believes that the services of RLG are necessary to
enable it to execute faithfully its statutory duties.  RLG will
render the following professional services:

   a. provide legal advice regarding local rules, practices, and
procedures and provide substantive and strategic advice on how to
accomplish the Committee's goals in connection with the prosecution
of these cases, bearing in mind that the Court relies on Delaware
counsel such as RLG to be involved in all aspects of these
bankruptcy cases;

   b. review, comment upon and/or prepare drafts of documents to be
filed with the Court as Delaware counsel to the Committee;

   c. appear in Court and at any meeting with the U.S. Trustee and
any meeting of creditors at any given time on behalf of the
Committee as its Delaware counsel;

   d. perform various services in connection with the
administration of these cases including, without limitation, (i)
preparing certificates of no objection, certifications of counsel,
notices of fee applications and hearings, and hearing binders of
documents and pleadings, (ii) monitoring the docket for filings and
coordinating with Lowenstein on pending matters that need
responses, (iii) preparing and maintaining critical dates memoranda
to monitor pending applications, motions, hearing dates and other
matters and the deadlines associated with the same, and (iv)
handling inquiries and calls from creditors and counsel to
interested parties regarding pending matters and the general status
of these cases and coordinating with Lowenstein on any necessary
responses; and

   e. perform all other services assigned by the Committee, in
consultation with Lowenstein, to RLG as Delaware counsel to the
Committee.

The principal professionals and paraprofessionals designated to
represent the Committee and the discounted hourly rates they will
charge on this matter are:

         Frederick B. Rosner $250 per hour
         Scott Leonhardt $250 per hour
         Julia Klein $250 per hour
         Frederick Sassler (paralegal) $150 per hour
         Law Clerk $200 per hour

Frederick B. Rosner, Esq., assures the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtors and their estates.

                    U.S. Trustee Objection

Andrew R. Vara, Acting United States Trustee for Region 3, filed an
objection to the retention of The Rosner Law Group.

The Rosner Law Group seeks to be indemnified and paid "from the
Debtors' estates for any fees or costs arising out of the
successful defense of any fee application by [the Firm] in response
to any objection to its fees or expenses in these cases pursuant to
Section 328(a) of the Bankruptcy Code" to the fullest extent
permitted by law.

According to the U.S. Trustee, the Fee Defense Provisions violate
the Code and the American Rule, ignore the express directives of
the United States Supreme Court, and are otherwise unreasonable.
The Supreme Court recently held that Section 330(a) does not
authorize a court to approve a law firm's fee for litigating its
fee application.  The Firm cannot circumvent ASARCO by having the
same fees approved as a term or condition of its employment under
section 328(a), according to the U.S. Trustee.

The U.S. Trustee is represented by:

         Benjamin A. Hackman, Esq.
         Office of the U.S. Trustee, J. Caleb Boggs Bldg.
         844 King Street, Suite 2207, Lockbox 35
         Wilmington, DE 19801
         Tel: (302) 573-6491
         Fax: (302) 573-6497

                        Committee Response

The Committee asked the Court to overrule the U.S. Trustee's
objections.  Julia B. Klein, Esq., representing the Committee,
states that the professionals are neither seeking to circumvent
Asarco nor obtain pre-approval of fees, if any, that may be
incurred in connection with litigation of fee disputes (should that
even occur).  Rather, the Proposed Language preserves the Committee
professionals' rights to seek indemnification and only to the
extent permitted by law.  The Committee's professionals are simply
seeking to preserve the right to seek indemnification as permitted
by applicable law when and if the issue ever arises.  

The Committee's Delaware attorneys:

         THE ROSNER LAW GROUP LLC
         Julia Klein, Esq.
         Frederick B. Rosner, Esq.
         824 Market Street, Suite 810
         Wilmington, DE 19801
         Tel: (302) 777-1111
         Email: rosner@teamrosner.com
                klein@teamrosner.com

                       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.


TRACK GROUP: Edison Investment Issues Updated Report
----------------------------------------------------
Edison Investment Research issued an updated research report on
Track Group, Inc., as disclosed in a Form 8-K report filed with the
Securities and Exchange Commission.

The report issued by Edison is sponsored research by the Company.
The Company does not expressly or by implication warrant or assume
any legal liability or responsibility for the accuracy,
completeness, or usefulness of any information, assumption, data,
forecast, estimate or projection contained in the report, and the
dissemination of the report does not necessarily constitute or
imply the Company's endorsement or recommendation.

A copy of Research Report is available for free at:

                       http://is.gd/jIB2zl

                        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.

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.


TRANSCOASTAL CORP: Blackhill Touts Completed Restructuring
----------------------------------------------------------
Blackhill Partners, an investment bank specializing in complex
situations, has completed a restructuring for TransCoastal
Corporation, including guiding the company through a pre-packaged
bankruptcy in 36 days.  TransCoastal, a Dallas-based independent
oil and gas company focused on the acquisition of producing oil and
gas properties, retained Blackhill Partners to evaluate assets,
identify strategic alternatives, and negotiate a restructuring with
its senior lender.

"The challenging energy environment is leading numerous oil and gas
companies to pursue restructurings both in and out of court. At
Blackhill Partners, our focus is to assist these firms to move
rapidly through the reorganization process and minimize the costs
of doing so," said Joe Stone, Blackhill Partners managing director.
"TransCoastal benefited from our team's broad industry knowledge,
derived from years in energy restructurings, that enabled us to
complete the reorganization quickly."

TransCoastal's assets include primarily operated and non-operated
properties located in the panhandle and north central regions of
Texas.  The company retained Blackhill managing directors Stone and
Jeff Jones, and vice president Joel Brown to manage the
restructuring.  Steve Pezanosky and Autumn Highsmith both partners
of law firm Haynes and Boone served as counsel to TransCoastal. The
Blackhill team has more than 75 years' experience in energy
restructuring, with expertise in both financial and operational
restructuring and distressed mergers and acquisitions.

                  About Blackhill Partners

Headquartered in Dallas, Texas, Blackhill Partners, LLC --
http://www.blackhillpartners.com-- is an investment bank
specializing in complex situations.  Blackhill's professionals have
advised Fortune 500 and middle-market companies on over $100
billion of mergers, acquisitions, financings and restructurings
across a broad range of industries, with particular depth in energy
and industrial businesses.

                About TransCoastal Corporation

Dallas, Texas-based TransCoastal Corporation, et al., filed for
Chapter 11 protection (Bankr. N.D. Tex. Case No. 15-34956) on  Dec.
8, 2015.  The petitions were signed by Stuart Hagler, chief
executive officer.  The Hon. Harlin DeWayne Hale presides over the
cases.  

The Debtors tapped Stephen M. Pezanosky, Esq., at Haynes And Boone,
LLP, as counsel, and Blackhill Partners, LLC, as their financial
advisor.

TransCoastal estimated assets at $1 million to $10 million and
debts at $10 million to $50 million.


TRELLIS EARTH: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Trellis Earth Products, Inc.
           dba Trellis Bioplastics
        8600 SW Salish Lane, Suite 6
        Wilsonville, OR 97070

Case No.: 16-90205

Chapter 11 Petition Date: February 17, 2016

Court: United States Bankruptcy Court
       Southern District of Indiana (New Albany)

Judge: Hon. Basil H. Lorch III

Debtor's Counsel: David R. Krebs, Esq.
                  TUCKER, HESTER, BAKER & KREBS, LLC
                  One Indiana Square, Suite 1600
                  Indianapolis, IN 46204
                  Tel: 317-833-3030
                  Fax: 317-833-3031
                  Email: dkrebs@thbklaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

Largest unsecured creditor: Zhejiang Wafa Ecosystem Science,
$1,642,874.

The petition was signed by William Collins, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/insb16-90205.pdf


TRUSTEES OF CONNEAUT LAKE: To Sell 2 Lakefront Lots
---------------------------------------------------
Keith Gushard, writing for Meadville Tribune, reported that
Trustees of Conneaut Lake Park intend to file a motion with U.S.
Bankruptcy Court for approval of the sale of two lakefront lots.

According to the report, Mark Turner, executive director of
Trustees of Conneaut Lake Park, said at a meeting of Trustees on
the evening of Feb. 16 that the motions are expected to be filed
"within the next week."

Subject to the sale motion will be the Flynn property, which has
about 330 feet of lakefront access.  Proceeds of the sale will be
used to pay off the park's debts.

According to the report, Mr. Turner said there are potential buyers
for two of the lots -- one at $281,000 and another at $255,000.   

If bankruptcy court approves those land sales in the coming weeks,
the docks the amusement park has in front of the property would
have to be relocated, the report added.  The plan would move the
pilings that support the docks south of their current location to
in front of the midway/former Beach Club site, but the docks
probably wouldn't be in operation until the 2017 boating season
because of permitting requirements from the Pennsylvania Fish and
Boat Commission, Mr. Turner said.

                     About Conneaut Lake Park

Conneaut Lake Park is a summer amusement resort, located in
Conneaut Lake, Pennsylvania.

Trustees of Conneaut Lake Park, Inc., filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Pa. Case No. 14-11277) in Erie, Pennsylvania,
on Dec. 4, 2014.  The case is assigned to Judge Thomas P. Agresti.


The Debtor tapped George T. Snyder, Esq., at Stonecipher Law Firm,
in Pittsburgh, as counsel.  The Debtor estimated assets and debt of
$1 million to $10 million.

Trustees of Conneaut Lake Park filed for bankruptcy protection less
than 20 hours before the Crawford County amusement park was
scheduled to go to sheriff's sale for almost $930,000 in back taxes
and related fees.


UCI HOLDINGS: Defers $17.3 Million Interest Payment
---------------------------------------------------
UCI Holdings Limited said its wholly-owned subsidiaries, UCI
International LLC and UCI Acquisition Holdings (No.3) Corp., have
elected to exercise the grace period with respect to the
$17,250,000 interest payment due on its 8.625% senior unsecured
notes.

Under the terms of the indenture governing the Notes, the Company
has a 30 day grace period for interest payments.

The Company is engaged in discussions with representatives of
certain of the Noteholders. The Company has the right to make the
interest payment at any time during the grace period and thereby
avoid an event of default. The Company believes it has sufficient
liquidity to continue meeting all of its obligations to employees,
customers, and suppliers during the grace period.

Auckland, New Zealand-based UCI Holdings Limited is a supplier to
the light and heavy-duty vehicle aftermarket for replacement parts,
supplying a broad range of filtration, fuel delivery systems,
vehicle electronics and cooling systems products.  In the U.S., the
Company has an office in Lake Forest, Illinois.

UCI Holdings, as of Dec. 31, 2014, reported total assets of
$1,360,123,000 and total liabilities of $1,134,542,000.


UCI HOLDINGS: Names Alan Carr to Board of Directors
---------------------------------------------------
Alan J. Carr has been appointed to the Board of Directors of UCI
Holdings Limited, effective February 10, 2016.

Auckland, New Zealand-based UCI Holdings Limited is a supplier to
the light and heavy-duty vehicle aftermarket for replacement parts,
supplying a broad range of filtration, fuel delivery systems,
vehicle electronics and cooling systems products.  In the U.S., the
Company has an office in Lake Forest, Illinois.

UCI Holdings, as of Dec. 31, 2014, reported total assets of
$1,360,123,000 and total liabilities of $1,134,542,000, according
to its Annual Report on Form 20-F filing with the Securities and
Exchange Commission in March 2015.


UCI HOLDINGS: S&P Rating Cut to CCC After Missed Interest Payment
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered the corporate credit
rating on UCI Holdings Ltd. to 'CCC' from 'CCC+' and, as a
consequence, lowered the issue-level rating on the company's
unsecured debt to a 'CCC-' from 'CCC'. The recovery rating on this
debt remains a '5', which indicates S&P's expectation of modest
(10% to 30%; lower half of the range) recovery in the event of a
default.

S&P is placing all of the ratings on UCI on CreditWatch with
negative implications.

"The downgrade reflects our view that there is at least a
one-in-two likelihood of default within the next 12 months," said
Standard & Poor's credit analyst Lawrence Orlowski. "UCI's
announcement [] indicating its intent to exercise its grace period
with respect to a $17.25 million interest payment due on its 8.625%
senior unsecured notes raises questions as to the likelihood that
it will meet its debt obligation."

Under the terms governing the notes, the company has a 30-day grace
period for interest payments.

"While the company believes it has sufficient liquidity to continue
meeting all of its obligations to employees, customers, and
suppliers during the grace period, the decision to delay making its
interest payments could indicate that the company might engage in
an exchange offer that we would deem as a selective default, or
could be considering filing for bankruptcy," said Mr. Orlowski.

Standard & Poor's expects to resolve the CreditWatch placement in
the next 90 days after it has gained greater clarity as to the
company's future strategic plans.


UNIVERSITY GENERAL: Confirms Plan After Assets Sold for $33MM
-------------------------------------------------------------
University General Health System, Inc., sold its 69-bed acute care
hospital located near the Texas Medical Center in Houston, Texas,
in December 2015 and in January 2016 won confirmation of its
Chapter 11 liquidating plan.

The Debtors won approval from the Bankruptcy Court to sell
substantially all of their assets to Foundation Surgical Hospital
Holdings, LLC for $33 million.  A November auction was cancelled a
scheduled after no competing bids were received by UGH.  The
proceeds from the sale will fund the distributions under the Plan.

Under the Plan, the Debtors' remaining assets, including cash and
causes of action, shall vest in the Liquidating Trust, free and
clear of all liens, claims and encumbrances, except as otherwise
provided in the Plan.  The Liquidating Trustee will have the
authority to object to the allowance of any claims filed against
the Debtors.  The Liquidating Trustee will prosecute causes
of action in her discretion, liquidate other remaining tangible
assets, and make distributions to creditors in accordance with the
Bankruptcy Code.

Administrative claims of Chapter 11 professionals are estimated at
$2,500,000.  H2C is slated to receive a $1,530,000 success fee.
Liquidating trustee fees and attorneys fees were set at $700,000.
After deducting Chapter 11 costs from the $33 million sale
proceeds, $28,270,000 are available for distribution.

The Debtors' primary secured creditor, MidCap, is owed
approximately $16 million.  Total filed unsecured claims are
$106,546,784.  After a $15,879,750 payment for Mid-Cap's claims, a
$7,900,000 payment to the IRS, $3,000,000 payment for non-IRS tax
claims, cure payments of $948,000, the Debtors estimated $542,250
will be available for distribution for unsecured creditors, for an
estimated recovery of 0.51%.

Pursuant to Section 1.68 of the Plan, Official Committee of
Unsecured Creditors has designated as the Liquidating Trustee of
the Liquidating Trust:

         MICHAEL D. WARNER
         Member, Cole Schotz
         301 Commerce Street, Suite 1700
         Fort Worth, TX 76102
         Direct: 817.810.5265
         Firm: 817.810.5250
         Fax: 817.977.1611
         Cell: 817.832.5566
         E-mail: mwarner@coleschotz.com

                     About University General

University General Health System, Inc., with headquarters in
Houston, Texas, was a multi-specialty health care provider that
delivered concierge physician- and patient-oriented services. UGHS
and its consolidated subsidiaries operate, amongst others, a
general acute care hospital, ambulatory surgical centers,
hyperbaric wound care centers, diagnostic imaging centers,
physical therapy centers, and senior living centers.

UGHS owned the University General Hospital, a 70-bed, general
Acute care hospital in the heart of the Texas Medical Center in
Houston, Texas.

UGHS and its affiliated entities sought Chapter 11 protection
(Bankr. S.D. Tex. Lead Case No. 15-31086) in Houston, Texas, on
Feb. 27, 2015.  The case is assigned to Judge Letitia Z. Paul.

The Debtors tapped John F Higgins, IV, Esq., Aaron James Power,
Esq., and Joshua W. Wolfshohl, Esq., at Porter Hedges LLP, in
Houston, Texas, as counsel.  Upshot Services, LLC, is the claims
and noticing agent.  The Debtors also engaged Hammon Hanlon Camp,
LLC ("H2C") as their investment bankers.  The Debtors retained
Munsch Hardt Kopf & Harr, P.C. as special counsel to advise them
regarding healthcare issue related to the sale of substantially all
of their assets on an hourly fee basis.  Finally, the Debtors
tapped Martin & Martin LLP as accountants to prepare the Debtors'
federal tax returns.

U.S. Trustee Judy A. Robbins formed a nine-member panel of
unsecured creditors in the Chapter 11 cases of the Debtors.  The
Committee retained Locke Lord LLP as its counsel and Solic Capital
Advisors, LLC as its financial advisor.

                          *     *     *

The deadline to file proofs of claim in the cases was July 6,
2015.

The Debtors on July 13, 2015, obtained final approval of a $16
million postpetition revolving credit facility from existing lender
Mid-Cap.

On Oct. 21, 2015, the Court entered an order extending the Debtor's
exclusive period to file a plan until Jan. 25, 2016, and the
exclusive period to obtain acceptances of the plan until March 23,
2016.


UNIVERSITY GENERAL: Liquidating Plan Declared Effective
-------------------------------------------------------
University General Health System, Inc., announced that its Chapter
11 Plan of Liquidation became effective in accordance with its
terms on Feb. 4, 2016.

All final requests for payment of Professional Fee Claims must be
filed no later than March 21, 2016 (i.e. 45 days after the
Effective Date, and in accordance with Bankruptcy Rule 9006).

The last day to file an application for allowance of an
Administrative Claim (other than (i) quarterly U.S. Trustee Fees
and (ii) Professional Fee Claims) is Feb. 24, 2016 (i.e. 20 days
after the Effective Date).  All Administrative Claims must be filed
in accordance with Section 16.1 of the Plan (except for
Professional Fee Claims and U.S. Trustee Claims).

All executory contracts and unexpired leases that are not assumed
under the Plan and the Foundation Purchase Agreement are rejected.
Any Claim for damages arising from the rejection of an executory
contract or unexpired lease must be asserted in a proof of claim
filed with the Bankruptcy Court no later than 30 days following the
earlier of (a) the date of entry of an order of the Bankruptcy
Court approving such rejection, or (b) March 7, 2016 (i.e. 30 days
after the Effective Date of the Plan, and in accordance with
Bankruptcy Rule 9006).

The Liquidating Trustee:

         MICHAEL D. WARNER
         Cole Schotz P.C.
         301 Commerce Street, Suite 1700
         Fort Worth, TX 76102
         Tel: (817) 810-5250
         Fax: (817) 810-5255
         E-mail: mwarner@coleschotz.com

Attorneys for Michael D. Warner, Liquidating Trustee:

         Jill B. Bienstock, Esq.
         COLE SCHOTZ P.C.
         25 Main Street, Court Plaza North
         Hackensack, NJ 07601
         Tel: (201) 525-6328
         Fax: (201) 678-6328
         E-mail: jbienstock@coleschotz.com

                        Plan & Sale Timeline

On Oct. 15, 2015, the Debtors received approval for bid procedures,
setting Nov. 3, 2015 as the deadline for interested parties to
submit qualified bids.  Pursuant to the bid procedures order, the
Debtors received one bid in the form of a Purchase and Sale
Agreement from Foundation Surgical Hospital Holdings, LLC.   No
other qualified bids were received.  Accordingly, the Debtors did
not conduct an auction.

On Nov. 9, the Court entered an order approving a sale of the
Debtors assets to Foundation based on its Purchase and Sale
Agreement.  The proposed purchase price is $33 million.

On Dec. 3, the Debtors filed a Chapter 11 Plan of Liquidation and
Disclosure Statement.  Under the Plan, the Debtors' remaining
assets, including cash and causes of action, shall vest in the
Liquidating Trust, free and clear of all liens, claims and
encumbrances, except as otherwise provided in the Plan.

On Dec. 7, Judge Letitia Z. Paul granted approval of the Disclosure
Statement and scheduled a Jan. 11 hearing to consider confirmation
of the Plan.

On Dec. 31, the Debtors closed the sale of substantially all of
their assets to Foundation.

On Jan. 11, 2016, the Court confirmed the Joint Chapter 11 Plan of
Liquidation Court and on Jan. 12, 2016, entered a formal order
confirming the Plan.  A copy of the Plan confirmation order is
available for free at:

      http://bankrupt.com/misc/UGH_799_Plan_Conf_Order.pdf

Counsel for Debtors:

         PORTER HEDGES, LLP
         John F. Higgins
         Joshua W. Wolfshohl
         Aaron J. Power
         1000 Main Street, 36th Floor
         Houston, Texas 77002
         Telephone: (713) 226-6000
         Facsimile: (713) 226-6248

The Committee's attorneys:

         LOCKE LORD LLP
         Elizabeth M. Guffy
         W. Steven Bryant
         Brooke B. Chadeayne
         600 Travis Street, Suite 2800
         Houston, Texas 77002
         Phone: (713) 226-1489
         Fax: (713) 229-2536
         E-mail: eguffy@lockelord.com
                 sbryant@lockelord.com
                 bchadeayne@lockelord.com
                     About University General

University General Health System, Inc., with headquarters in
Houston, Texas, was a multi-specialty health care provider that
delivered concierge physician- and patient-oriented services. UGHS
and its consolidated subsidiaries operate, amongst others, a
general acute care hospital, ambulatory surgical centers,
hyperbaric wound care centers, diagnostic imaging centers,
physical therapy centers, and senior living centers.

UGHS owned the University General Hospital, a 70-bed, general
Acute care hospital in the heart of the Texas Medical Center in
Houston, Texas.

UGHS and its affiliated entities sought Chapter 11 protection
(Bankr. S.D. Tex. Lead Case No. 15-31086) in Houston, Texas, on
Feb. 27, 2015.  The case is assigned to Judge Letitia Z. Paul.

The Debtors tapped John F Higgins, IV, Esq., Aaron James Power,
Esq., and Joshua W. Wolfshohl, Esq., at Porter Hedges LLP, in
Houston, Texas, as counsel.  Upshot Services, LLC, is the claims
and noticing agent.  The Debtors also engaged Hammon Hanlon Camp,
LLC ("H2C") as their investment bankers.  The Debtors retained
Munsch Hardt Kopf & Harr, P.C. as special counsel to advise them
regarding healthcare issue related to the sale of substantially all
of their assets on an hourly fee basis.  Finally, the Debtors
tapped Martin & Martin LLP as accountants to prepare the Debtors'
federal tax returns.

U.S. Trustee Judy A. Robbins formed a nine-member panel of
unsecured creditors in the Chapter 11 cases of the Debtors.  The
Committee retained Locke Lord LLP as its counsel and Solic Capital
Advisors, LLC as its financial advisor.

                          *     *     *

The deadline to file proofs of claim in the cases was July 6,
2015.

The Debtors on July 13, 2015, obtained final approval of a $16
million postpetition revolving credit facility from existing lender
Mid-Cap.

On Oct. 21, 2015, the Court entered an order extending the Debtor's
exclusive period to file a plan until Jan. 25, 2016, and the
exclusive period to obtain acceptances of the plan until March 23,
2016.


VARIANT HOLDING: Ex-Atty in Contempt for Hoarding Company Records
-----------------------------------------------------------------
Aebra Coe at Bankruptcy Law360 reported that Variant Holding Co.
LLC's former counsel was held in contempt of court on Feb. 16,
2016, and sanctioned $20,000 for failing to turn over various
records related to the real estate company, including 108 gigabytes
of emails, despite numerous court orders directing him to do so.
After a Feb. 11 hearing on Variant's request for sanctions, U.S.
Bankruptcy Judge Brendan L. Shannon concluded that Arizona-based
attorney Jeffrey H. Greenberg had repeatedly flouted court orders
by failing to produce records, documents, files and a mass of
emails requested by the Company.

                      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


VARIANT HOLDING: Ex-Atty in Contempt, Hit With $20K Sanctions
-------------------------------------------------------------
Matt Chiappardi at Bankruptcy Law360 reported that a Delaware
bankruptcy judge found real estate company Variant Holding Co.
LLC's former counsel Jeffrey H. Greenberg of JH Greenberg &
Associates PLLC in contempt on Feb. 11, 2016, hitting him with
$20,000 in sanctions for repeatedly ignoring orders to turn over
records related to the Debtor.

                   About Variant Holding Company

Tucson, Arizona-based Variant Holding Company, LLC, and its direct
and indirect subsidiaries are a commercial real estate business
with direct and indirect ownership interests in 23 real property
interests in various states.

Variant Holding commenced bankruptcy proceedings under Chapter 11
of the U.S. Bankruptcy Code in Delaware (Case No. 14-12021) on
Aug.
28, 2014.  Variant Holding estimated $100 million to
$500 million in assets and less than $100 million in debt.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.

Variant's subsidiaries filed voluntary Chapter 11 petitions on
Jan.
12, 2016.  Variant's property-owning subsidiaries, which own 23
apartment complexes, and which are debtors are: (1) Broadmoor
Apartments, LLC, Chesapeake Apartments, LLC, Holly Ridge
Apartments, LLC, Holly Tree Apartments, LLC, Preston Valley
Apartments, LLC, Ravenwood Hills Apartments, LLC, River Road
Terrace Apartments, LLC, and Sandridge Apartments, LLC
(collectively, the "FX3 Portfolio Debtors"); (2) 10400 Sandpiper
Apartments, LLC, 10301 Vista Apartments, LLC, Pines of Westbury,
Ltd., 201 Ashton Oaks Apartments, LLC, 13875 Cranbook Forest
Apartments, LLC, 5900 Crystal Springs Apartments, LLC, 7107 Las
Palmas Apartments, LLC, 11911 Park Texas Apartments, LLC, 1201
Oaks of Brittany Apartments LLC, 3504 Mesa Ridge Apartments, LLC,
667
Maxey Village Apartments, LLC, 17103 Pine Forest Apartments, LLC,
7600 Royal Oaks Apartments, LLC, and 4101 Pointe Apartments, LLC
(collectively, the "H14 Portfolio Debtors"); and (3) The Oaks of
Stonecrest Apartments, LLC ("Oaks at Stonecrest")(the FX3
Portfolio
Debtors, the H14 Portfolio Debtors and Oaks at Stonecrest are
collectively referred as the "Property-Owning Debtors").

The FX3 Portfolio Debtors own 8 apartment projects in Texas,
Maryland, Virginia, and South Carolina, which properties total
1,850 housing units.  The H14 Portfolio Debtors own 14 apartment
projects in Texas, which consist of a total of 5,050 housing
units.
Oaks at Stonecrest owns a single apartment project in Lithonia,
Georgia, which has 280 housing units.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP, as
counsel and UpShot Services LLC as claims and noticing agent


VERSO CORP: NewPage $675M Loan Set for Feb. 24 Hearing
------------------------------------------------------
NewPage Corporation and related entities sought and obtained, in
the interim, authorization to obtain postpetition financing from
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware.

The NewPage Debtors are seeking approval to obtain up to $675
million in DIP Financing, consisting of two DIP Facilities: (i) a
senior secured superpriority Revolving DIP Facility in an aggregate
principal amount of up to $325 million, including a $100 million
letter of credit subfacility; and (ii) a senior secured
superpriority Term DIP Facility in an aggregate principal amount of
up to $350 million, including $175 million in New Money Term DIP
Loans, $125 million of which will be available upon entry of the
Interim Order, and $175 million in Roll Up Term DIP Loans.

With the liquidity available from the DIP Financing, the NewPage
Debtors, and all other Debtors, can stabilize their business, pay
critical vendors who have been stretched, and take necessary steps
to survive and thrive in their changed and changing economic
environment.  Failure to secure financing will likely result in a
liquidation, severe employee dislocation and major losses for
vendors and customers, the Debtors tell the Court.

The DIP Financing Facilities contain, among others, these relevant
terms:

A. Revolving DIP Facility

     (1) Borrower: NewPage Corporation

     (2) Guarantors: NewPage Investment Company LLC, et. al.

     (3) Lenders: The Revolving DIP Lenders, consisting of certain
lenders under the Prepetition ABL Facility.

     (4) DIP Agent: Barclays Bank PLC, as Administrative Agent and
Collateral Agent, and BMO Harris Bank, N.A., as Co-Collateral
Agent.

     (5) Amount and Facility: $325 million senior secured
superpriority non-amortizing asset-based revolving credit facility,
all of which will be available upon the Closing Date, and a $100
million DIP L/C Subfacility.

     (6) Interest Rate: (i) ABR Loans: ABR + 1.5%, (ii)
Eurocurrency Rate Loans: Adjusted LIBO Rate + 2.5%

B. Term DIP Facility

     (1) Borrower: New Page Corporation

     (2) Lenders: The Term DIP Lenders, consisting of certain
lenders under the Prepetition Term Loan Facility.

     (3) Amount and Facility: $350 million senior secured
superpriority non-amortizing term loan facility, consisting of $175
million in new money term loans ("New Money Term DIP Loans") and a
dollar-for-dollar roll-up of up to $175 million in loans held by
the Term DIP Lenders under the Prepetition Term Loan Facility
("Roll Up Term DIP Loans").  $125 million of the New Money Term DIP
Loans would be available upon the first draw on the facility,
following entry of the Interim Order, with the remaining $50
million in New Money Term DIP Loans funded, and the full $175
million of Roll Up Term DIP Loans deemed borrowed, upon the final
draw on the facility, following entry of the Final Order.

     (4) Interest Rate: (i) ABR Loans: ABR + 8.5%, (ii)
Eurocurrency Rate Loans: Adjusted LIBO Rate + 9.5%

The Debtors related that the proceeds of the DIP Facilities may be
used for working capital and general corporate purposes materially
consistent with the DIP Budget, including to refinance in full the
indebtedness under the Prepetition ABL Facility, and to pay fees,
costs and expenses in connection with the chapter 11 cases. The
Debtors further related that during the continuance of an Event of
Default, the Loans, including unreimbursed amounts on account of
drawn DIP L/Cs, will bear interest at an additional 2% per annum.

The Debtors noted that under each DIP Facility, the maturity date
is the earliest to occur of (a) 18 months after the Closing Date,
(b) 45 days after entry of the Interim Order if the Final Order has
not been entered, (c) substantial consummation of a plan of
reorganization, (d) consummation of a sale of substantially all of
the assets of the NewPage Debtors, and (e) the acceleration of the
DIP Loans and termination of commitments with respect to such DIP
Facility in accordance with the DIP Documents.

The Final Hearing is scheduled on Feb. 24, 2016 at 12:00 p.m. The
deadline for the submission of objections to the relief sought at
the Final Hearing is set on Feb. 16, 2016 at 4:00 p.m.

NewPage Corporation's attorneys:

          Mark D. Collins, Esq.
          Michael J. Merchant, Esq.
          RICHARDS, LAYTON & FINGER, P.A.
          One Rodney Square
          920 North King Street
          Wilmington, DE 19801
          Telephone: (302)651-7700
          Facsimile: (302)651-7701
          E-mail: collins@rlf.com
                 merchant@rlf.com

                - and -

          George A. Davis, Esq.
          Suzanne S. Uhland, Esq.
          Peter Friedman, Esq.
          Andrew M. Parlen, Esq.
          Diana M. Perez, Esq.
          O'MELVENY & MYERS LLP
          Times Square Tower
          Seven Times Square
          New York, NY 10036
          Telephone: (212)326-2000
          Facsimile: (212)326-2061
          E-mail: gdavis@omm.com
                  suhland@omm.com
                 pfriedman@omm.com
                 aparlen@omm.com
                 dperez@omm.com

                     About Verso Corporation

Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.

Verso Corporation and 26 of its affiliates, including NewPage
Corporation, filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Case Nos. 16-10163 to 16-10189, respectively) on Jan. 26, 2016.
The petitions were signed by David Paterson, the president and
CEO.

The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.

The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing agent.


VILLAGE CHRYSLER: Says Chrysler Misrepresentations Warrant Sanction
-------------------------------------------------------------------
Aebra Coe at Bankruptcy Law360 reported that a Detroit-area
automotive dealership told a Michigan federal court on Feb. 9,
2016, that Chrysler is telling lies about its refusal to honor a
sales agreement that would reboot the dealership's business after a
protracted court battle, asserting that the automaker should be
sanctioned.  Village Chrysler Jeep Inc. said that Chrysler
successor FCA US LLC's contention that it has not backed out of the
agreement is a misrepresentation.



WALTER ENERGY: Closes Sale of Non-Core U.S. Assets to Seminole
--------------------------------------------------------------
Walter Energy, Inc. on Feb. 12 closed the previously announced sale
of certain U.S. non-core assets to Seminole Coal Resources, LLC,
ERP Compliant Coke, LLC and ERP Environmental Fund, Inc., all
affiliates of ERP Compliant Fuels, LLC and Virginia Conservation
Legacy Fund, Inc.

Under the terms of the agreement, Seminole has acquired Walter
Energy's assets in West Virginia, including the Gauley Eagle and
Maple properties, as well as the Walter Coke facility and Taft in
Alabama. As part of the acquisition, Seminole assumes certain
liabilities related to the assets it is acquiring. The agreement
was previously approved by the Bankruptcy Court for the Northern
District of Alabama in connection with a court-approved sale
process under section 363 of the Bankruptcy Code.

With the close of this sale, Walter Energy's remaining U.S. assets
consist of its core Alabama coal operations.  The sale of those
assets to its senior lender group was also approved by the
Bankruptcy Court and is expected to close in the near future.

On July 15, 2015, Walter Energy and its U.S. subsidiaries filed for
relief under chapter 11 of the U.S. Bankruptcy Code in the
Bankruptcy Court for the Northern District of Alabama.

PJT Partners is serving as financial advisor and Paul, Weiss,
Rifkind, Wharton & Garrison LLP and Bradley Arant Boult Cummings
LLP are serving as legal advisors to Walter Energy.

Contact:

     William Stanhouse
     Tel: 205-745-2664
     william.stanhouse@walterenergy.com

          - or -

     Ruth Pachman
     KEKST AND COMPANY
     Tel: 212-521-4891
     E-mail: ruth.pachman@kekst.com

                     About ERP Compliant Fuels and
                 the Virginia Conservation Legacy Fund

Virginia Conservation Legacy Fund, Inc. ("VCLF") is a nonprofit
organization seeking sustainable approaches and public awareness
about natural resource use. VCLF controls over 30,000 acres of
conservation land, including the Natural Bridge of Virginia. VCLF
works closely with the coal industry to promote best management
practices in land reclamation, reforestation, and water quality
improvement. VCLF provides "environmental management services" to
459 coal mining and water quality permits in 5 states. VCLF
affiliate ERP Compliant Fuels, LLC seeks to promote the sale of
coal, and now coke, which is bundled with carbon credits from the
reforestation of Appalachian lands to reduce the rate of growth in
atmospheric carbon dioxide. With the Seminole purchase, ERP will
operate one coke plant and four underground mines, including three
longwalls, producing over 10 million tons of thermal and
metallurgical coal annually. VCLF is supported by The Plains,
Virginia based Green-Trees which has reforested over 100,000 acres
(36 million trees) in the Mississippi Alluvial Delta generating
over 12 million tons of carbon dioxide emission offsets.

                      About Walter Energy

Walter Energy, Inc. -- http://www.walterenergy.com/-- is a
metallurgical coal producer for the global steel industry with
strategic access to steel producers in Europe, Asia and South
America.  The Company also produces thermal coal, anthracite,
metallurgical coke and coal bed methane gas, with operations in the
United States, Canada and the United Kingdom.

For the year ended Dec. 31, 2014, the Company reported a net loss
of $471 million following a net loss of $359 million in 2013.  

Walter Energy and its affiliates sought Chapter 11 protection
(Bankr. N.D. Ala. Lead Case No. 15-02741) in Birmingham, Alabama on
July 15, 2015, after signing a restructuring support agreement with
first-lien lenders.

Walter Energy disclosed total assets of $5.2 billion and total
debt of $5 billion as of March 31, 2015.

The Debtors tapped Paul, Weiss, Rifkind, Wharton & Garrison as
counsel; Bradley Arant Boult Cummings LLP, as co-counsel; Ogletree
Deakins LLP, as labor and employment counsel; Maynard, Cooper &
Gale, P.C., as special counsel; PJT Partners LP serves as
investment banker, replacing Blackstone Advisory Services, L.P.;
AlixPartners, LLP, as financial advisor, and Kurtzman Carson
Consultants LLC, as claims and noticing agent.

The Bankruptcy Administrator for the Northern District of Alabama
appointed an Official Committee of Unsecured Creditors and an
Official Committee of Retirees.  The Creditors Committee tapped
Morrison & Foerster LLP and Christian & Small LLP as attorneys.
The Retiree Committee retained Adams & Reese LLP and Jenner &
Block LLP as attorneys.

The informal group of certain unaffiliated First Lien Lenders and
First Lien Noteholders -- Steering Committee -- retained Akin,
Gump, Strauss, Hauer and Feld LLP as legal advisor, and Lazard
Freres & Co. LLC as financial advisor.


WEST CORP: Gary West Reports 9.8% Equity Stake as of Dec. 31
------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Gary L. West disclosed that as of Dec. 31, 2015, he
beneficially owns 8,164,510 shares of common stock of West
Corporation representing 9.8 percent of the shares outstanding.
Mary E. West also disclosed beneficial ownership of 8,070,761
common shares.  A copy of the regulatory filing is available for
free at http://is.gd/1oSR2W

                       About West Corporation

Omaha, Neb.-based West Corporation is a global provider of
communication and network infrastructure solutions.  West helps
manage or support essential enterprise communications with services
that include conferencing and collaboration, public safety
services, IP communications, interactive services such as automated
notifications, large-scale agent services and telecom services.

West Corp reported net income of $158 million in 2014 following net
income of $143 million in 2013.

As of Sept. 30, 2015, the Company had $3.55 billion in total
assets, $4.15 billion in total liabilities and a $596 million
stockholders' deficit.

                       Bankruptcy Warning

"If we cannot make scheduled payments on our debt, we will be in
default, and as a result:

   * our debt holders could declare all outstanding principal and
     interest to be due and payable;

   * the lenders under our Senior Secured Credit Facilities could
     terminate their commitments to lend us money and foreclose
     against the assets securing our borrowings; and

   * we could be forced into bankruptcy or liquidation," the    
     Company states in the quarterly report for the period ended
     Sept. 30 ,2015.

                          *     *     *

As reported by the TCR on June 21, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on West Corp. to 'BB-'
from 'B+'.  The upgrade reflects Standard & Poor's view that lower
debt leverage and a less aggressive financial policy will
strengthen the company's financial profile.

In the April 4, 2013, edition of the TCR, Moody's Investor Service
upgraded West Corporation's Corporate Family Rating to 'B1' from
'B2'.  "The CFR upgrade to B1 reflects West's shift to a more
conservative capital structure and financial policies as a publicly
owned company," stated Moody's analyst Suzanne Wingo.


WEST CORP: QCP GP Investors Reports 4.5% Stake as of Dec. 31
------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, QCP GP Investors II LLC disclosed that as of Dec. 31,
2015, it beneficially owns 3,781,961 shares of common stock of
West Corporation representing 4.5 percent of the shares
outstanding.  

QCP GP Investors II LLC is the general partner of Quadrangle GP
Investors II LP, which is the general partner of each of Quadrangle
Capital Partners II LP, Quadrangle Select Partners II LP and
Quadrangle Capital Partners II-A LP.  Each of QCP GP Investors II
LLC and Quadrangle GP Investors II LP may be deemed to be the
beneficial owner of the Shares held by the QCP II Funds.

A copy of the regulatory filing is available for free at:
  
                        http://is.gd/uMQCXk

                      About West Corporation

Omaha, Neb.-based West Corporation is a global provider of
communication and network infrastructure solutions.  West helps
manage or support essential enterprise communications with services
that include conferencing and collaboration, public safety
services, IP communications, interactive services such as automated
notifications, large-scale agent services and telecom services.

West Corp reported net income of $158 million in 2014 following net
income of $143 million in 2013.

As of Sept. 30, 2015, the Company had $3.55 billion in total
assets, $4.15 billion in total liabilities and a $596 million
stockholders' deficit.

                       Bankruptcy Warning

"If we cannot make scheduled payments on our debt, we will be in
default, and as a result:

   * our debt holders could declare all outstanding principal and
     interest to be due and payable;

   * the lenders under our Senior Secured Credit Facilities could
     terminate their commitments to lend us money and foreclose
     against the assets securing our borrowings; and

   * we could be forced into bankruptcy or liquidation," the    
     Company states in the quarterly report for the period ended
     Sept. 30 ,2015.

                          *     *     *

As reported by the TCR on June 21, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on West Corp. to 'BB-'
from 'B+'.  The upgrade reflects Standard & Poor's view that lower
debt leverage and a less aggressive financial policy will
strengthen the company's financial profile.

In the April 4, 2013, edition of the TCR, Moody's Investor Service
upgraded West Corporation's Corporate Family Rating to 'B1' from
'B2'.  "The CFR upgrade to B1 reflects West's shift to a more
conservative capital structure and financial policies as a publicly
owned company," stated Moody's analyst Suzanne Wingo.


WINDMILL RUN ASSOCIATES: Court Refuses to Lift Stay for Fannie Mae
------------------------------------------------------------------
Judge Letitia Z. Paul of the United States Bankruptcy Court for the
Southern District of Texas, Galveston Division, issued findings of
fact and conclusions of law on Fannie Mae's "Motion for Relief from
the Automatic Stay," and concluded that the stay should be
continued on terms, which will encourage continued adequate
protection of Fannie Mae's interest in the property.

Fannie Mae has filed a proof of claim for $1,767,945.61, secured by
debtor Windmill Run Associates, Ltd.'s 76-unit low income housing
tax credit apartment complex in Sweeny, Texas.  Fannie Mae sought
relief from stay on two grounds: (1) that Windmill lacks equity in
the property and the property is not necessary for an effective
reorganization, and (2) that Windmill cannot provide adequate
protection of Fannie Mae's interest in the property.  Windmill
asserted that Fannie Mae is adequately protected by an equity
cushion.

After holding an evidentiary hearing on Fannie Mae's motion, Judge
Paul concluded that the property is necessary for an effective
reorganization and that the stay should not be lifted pursuant to
Section 362(d)(2).  The judge found that Fannie Mae is presently
adequately protected by an equity cushion, although the size of the
equity cushion, and the question of whether the equity cushion is
increasing or decreasing, is the subject of dispute and widely
disparate opinions as to the value of the property.

The case is IN RE WINDMILL RUN ASSOCIATES, LTD., Debtor, Case No.
15-80319-G3-11 (Bankr. S.D. Tex.).

A full-text copy of Judge Paul's February 4, 2016 memorandum
opinion is available at http://is.gd/47qiGhfrom Leagle.com.

Windmill Run Associates, Ltd. is represented by:

          Annie E Catmull, Esq.
          T. Josh Judd, Esq.
          Edward L Rothberg, Esq.
          HOOVER SLOVACEK LLP
          Galleria Tower II
          5051 Westheimer, Suite 1200
          Houston, TX 77056
          Tel: 713-977-8686
          Fax: 713-977-5395
          Email: judd@hooverslovack.com
                 rothberg@hooverslovacek.com

            -- and --

          Ellen Maresh Hickman, Esq.
          OFFICE OF THE US TRUSTEE
          515 Rust St Ste 3516
          Houston, TX 77002
          Tel: (713)718-4650


XINERGY LTD: Plan of Reorganization Declared Effective
------------------------------------------------------
BankruptcyData reported that Xinergy's First Amended Chapter 11
Plan of Reorganization became effective, and the Company emerged
from Chapter 11 protection.

The Court confirmed the Plan on Jan. 27, 2016.  

According to documents filed with the Court, "Holders of
administrative claims, priority tax claims and priority non tax
claims will be paid in full cash.  Holders of other secured claims
will be paid in full in cash, the collateral securing the other
secured claim or other treatment in accordance with Section 1124.
Senior Secured Note Claims will be Allowed in the aggregate
principal amount of $195,000,000 plus accrued and unpaid interest
of $7,114,791 as of the Petition Date, plus, to the extent the
following are payable in accordance with the Indenture, fees and
expenses (including any prepayment fees and professionals fees and
expenses), penalties, premiums and other obligations incurred in
connection with the Senior Secured Note Claims.

The Senior Secured Note Claims are secured claims pursuant to
section 506(a) of the Bankruptcy Code to the extent of the Debtors'
Reorganization Value less the estimated amount of the DIP Facility
Claims and the Other Secured Claims, or approximately $65,500,000,
on account of which holders of Class 3 Claims are receiving 100% of
New Common Stock.  The remaining portion of the Senior Secured Note
Claims, or $136,614,791, is unsecured Senior Secured Note
Deficiency Claims, which are treated as Class 4 Claims." This
metallurgical coal producer filed for Chapter 11 protection on
April 6, 2015, listing $139 million in prepetition assets.

                       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.


YELLOW CAB: Chicago Cab Co., Creditors Scolded for Discovery Row
----------------------------------------------------------------
Diana Novak Jones at Bankruptcy Law360 reported that an Illinois
bankruptcy judge admonished Chicago's Yellow Cab unit and its
creditors in court on Feb. 11, 2016, telling them their continued
bickering over nearly year-old discovery issues in the company's
Chapter 11 is "appalling."  U.S. Bankruptcy Judge Carol A. Doyle
grew increasingly frustrated with counsel for Yellow Cab
Affiliation Inc. and its unsecured creditors committee as the two
parties argued over the creditors' motion to compel financial
documents from the cab company months after the creditors issued a
broad request for similar information.

                   About Yellow Cab Affiliation

Chicago, Illinois-based Yellow Cab Affiliation, Inc., filed for
Chapter 11 protection (Bankr. N.D. Ill. Case No. 15-09539) on March
18, 2015.  The petition was signed by Michael Levine, president.

Bankruptcy Judge Hon. Carol A. Doyle presides over the case.
Matthew T. Gensburg, Esq., and Martin S Kedziora, Esq., at
Greenberg Traurig, LLP, and Bruce Zirinksky represent the Debtor in
its restructuring effort.

The Debtor estimated assets at $1 million to $10 million and debt
of $10 million to $50 million.


YELLOWSTONE MOUNTAIN: Founder's Atty Ordered to Explain Negligence
------------------------------------------------------------------
Dani Meyer at Bankruptcy Law360 reported that the Tenth Circuit
instructed an attorney for the bankrupt Yellowstone Mountain Club
LLC's former owner, who is trying to revive a racketeering suit
against Cushman & Wakefield and Credit Suisse, to show why he
shouldn't be disciplined for failing to comply with court rules.

The appellate court said Philip H. Stillman of Stillman &
Associates has been notified numerous times via e-mail and
telephone to apply for admission to the Tenth Circuit's bar since
filing an entry of appearance nearly three months ago.

              About Yellowstone Mountain Club

Located near Big Sky, Montana, Yellowstone Mountain Club LLC --
http://www.theyellowstoneclub.com/-- is a private golf and ski    

community with more than 350 members, including Bill Gates and Dan
Quayle.  The Company was founded in 1999.

Yellowstone Club and its affiliates filed for Chapter 11
bankruptcy (Bankr. D. Montana, Case No. 08-61570) on Nov. 10,
2008.  The Company's owner affiliate, Edra D. Blixseth, filed
a separate Chapter 11 petition on March 27, 2009 (Case No.
09-60452).

Attorneys at Bullivant Houser Bailey PC and Bekkedahl & Green
PLLC represented Yellowstone.  The Debtors hired FTI Consulting
Inc. and Ronald Greenspan as CRO.  The official committee of
unsecured creditors were represented by Parsons, Behle and
Latimer; and James H. Cossitt, Esq., as counsel.  Credit Suisse,
the prepetition first lien lender, was represented by Skadden,
Arps, Slate, Meagher & Flom.

In June 2009, the Bankruptcy Court entered an order confirming
Yellowstone's Chapter 11 Plan.  Pursuant to the Plan, CrossHarbor
Capital Partners LLC acquired equity ownership in the reorganized
Club for $115 million.

Marc S. Kirschner, Esq., was appointed the Trustee of the
Yellowstone Club Liquidating Trust created under the Plan.


YRC WORLDWIDE: Amici Capital Reports 0.9% Stake as of Dec. 31
-------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Amici Capital, LLC and Paul E. Orlin disclosed that as
of Dec. 31, 2015, they beneficially own 297,104 shares of common
stock of YRC Worldwide Inc. representing 0.9 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/TT5SwA

                      About YRC Worldwide

Headquartered in Overland Park, Kan., YRC Worldwide Inc. (NASDAQ:
YRCW) -- http://www.yrcw.com/-- is a holding company that offers
its customers a wide range of transportation services.  These
services include global, national and regional transportation as
well as logistics.

YRC Worldwide reported a net loss attributable to common
shareholders of $85.8 million in 2014, a net loss attributable to
common shareholders of $83.6 million in 2013 and a net loss
attributable to common shareholders of $140.4 million in 2012.

                            *    *    *

As reported by the TCR on Feb. 18, 2014, Moody's Investors Service
had upgraded the Corporate Family Rating for YRC Worldwide from
'Caa3' to 'B3', following the successful closing of its refinancing
transactions.

In the Aug. 11, 2015, TCR report, Standard & Poor's Ratings
Services said that it has raised its corporate credit rating on
Overland, Kan.-based less-than-truckload (LTL) trucking company YRC
Worldwide to 'B-' from 'CCC+'.

"The upgrade reflects YRC's earnings growth and improved liquidity
position, along with our belief that gradual improvement in the
company's operating performance will result in credit measures that
are commensurate with the rating," said Standard & Poor's credit
analyst Michael Durand.


ZOGENIX INC: Armistice Capital No Longer a Shareholder
------------------------------------------------------
Armistice Capital, LLC, Armistice Capital Master Fund Ltd. and
Steven Boyd reported in an amended Schedule 13G filed with the
Securities and Exchange Commission that as of Dec. 31, 2015, they
have ceased to beneficially own shares of common stock of Zogenix,
Inc.  A copy of the regulatory filing is available for free at
http://is.gd/f1F5bn

                        About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

Zogenix reported net income of $8.58 million in 2014 following a
net loss of $80.85 million in 2013.

As of June 30, 2015, the Company had $246.7 million in total
assets, $138.6 million in total liabilities and $108.1 million in
total stockholders' equity.

Ernst & Young LLP, in San Diego, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2014, citing that the Company's
recurring losses from operations and negative cash flows from
operating activities raise substantial doubt about its ability to
continue as a going concern.


ZOGENIX INC: Great Point Reports 6.1% Stake as of Dec. 31
---------------------------------------------------------
Great Point Partners, LLC, Dr. Jeffrey R. Jay, M.D. and Mr. David
Kroin disclosed in an amended Schedule 13G filed with the
Securities and Exchange Commission that as of Dec. 31, 2015, they
beneficially own 1,518,521 shares of common stock of Zogenix Inc.
representing 6.11 percent of the shares outstanding.  A copy of the
regulatory filing is available for free at http://is.gd/HfN6Wp

                       About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

Zogenix reported net income of $8.58 million in 2014 following a
net loss of $80.85 million in 2013.

As of June 30, 2015, the Company had $246.7 million in total
assets, $138.6 million in total liabilities and $108.1 million in
total stockholders' equity.

Ernst & Young LLP, in San Diego, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2014, citing that the Company's
recurring losses from operations and negative cash flows from
operating activities raise substantial doubt about its ability to
continue as a going concern.


ZOGENIX INC: RA Capital Reports 9.1% Stake as of Dec. 31
--------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, RA Capital Management, LLC and Peter Kolchinsky
disclosed that as of Dec. 31, 2015, they beneficially own 2,253,237
shares of common stock of Zogenix Inc. representing 9.1 percent of
the shares outstanding.  RA Capital Healthcare Fund, L.P. also
reported beneficial ownership of 1,867,405 shares.  A copy of the
regulatory filing is available at http://is.gd/oB7SII

                        About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

Zogenix reported net income of $8.58 million in 2014 following a
net loss of $80.85 million in 2013.

As of June 30, 2015, the Company had $246.7 million in total
assets, $138.6 million in total liabilities and $108.1 million in
total stockholders' equity.

Ernst & Young LLP, in San Diego, California, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2014, citing that the Company's
recurring losses from operations and negative cash flows from
operating activities raise substantial doubt about its ability to
continue as a going concern.


[*] Bankruptcy Attorney Jonathan Aberman Joins Dykema in Chicago
----------------------------------------------------------------
Jonathan E. Aberman joined Dykema's Bankruptcy Practice Group as a
member in the firm's Chicago office.  Prior to joining Dykema, Mr.
Aberman practiced at Vedder Price in Chicago.

Mr. Aberman's practice focuses on helping his clients find valuable
and cost-effective solutions to complex bankruptcy and
insolvency-related problems, both in and out of court.  He has
helped numerous businesses, banks, finance companies and other
secured and unsecured creditors protect their assets and interests
in bankruptcy cases, foreclosures, receiverships, assignments,
workouts and restructurings.  Mr. Aberman has also helped
businesses structure their deals and financial transactions with
insolvency issues in mind.  He also has represented buyers and
sellers of assets in the distressed marketplace, in
bankruptcy-related sales and sales under Article 9 of the Uniform
Commercial Code.

Mr. Aberman has extensive experience in the Bankruptcy Courts,
handling debtor-in-possession financing and cash collateral
disputes, auctions and asset sales under Section 363 of the
Bankruptcy Code, plan formation and confirmation, claims and
objections, preference actions and fraudulent transfer suits.

"Jon adds new depth in our Chicago office, bringing his experience
not only in the bankruptcy courtrooms around the country, but in
structuring complex transactions with attention to insolvency
issues," said Mike Borders, Vice Chairman of Dykema and Office
Managing Member of the firm's Chicago office.


[*] Brucke Dopke Joins Stahl Cowen's Restructuring Team
-------------------------------------------------------
The Wall Street Journal reported tthat Bruce C. Dopke has joined
Stahl Cowen Crowley Addis, a Chicago-based law firm, and is of
counsel in the bankruptcy and restructuring team.  Mr. Dopke has
represented debtors, creditors and other parties in chapter 7,
chapter 11 and chapter 13 bankruptcy cases.  He has been a member
of the American Bankruptcy Institute and the National Association
of Consumer Bankruptcy Attorneys.

Bruce C Dopke, Esq.
Of-Counsel
Tel: 312-377-7870
Email: bdopke@stahlcowen.com


[*] Chair Yellen Catches Heat for Fed's Handling of Living Wills
----------------------------------------------------------------
Dani Kass at Bankruptcy Law360 reported that senators pressured
Federal Reserve Board Chair Janet Yellen on Feb. 11, 2016, about a
purported lack of transparency in the agency's decision-making
process for approving living wills, designed to help guide banks
through bankruptcy during a crisis, concerns she failed to
alleviate.  Federal Reserve Board Chair Janet Yellen testifies on
Capitol Hill in Washington on Feb. 11, 2016 before the Senate
Banking Committee.  In August 2014, the Federal Deposit Insurance
Corp and the Fed had determined 11 major banks' proposals were
insufficient.


[*] Haynes and Boone Assessments of Oilfield Economics
------------------------------------------------------
Haynes and Boone, LLP bankruptcy and energy finance lawyers
continue to draw worldwide attention to their work documenting the
effects of slumping oil prices using three research products
created as a service to the industry. Since November 2015, the
firm's research has been cited in more than 90 press and industry
assessments of the current dynamic market.

Most recently, the firm issued an update of its Oil Patch
Bankruptcy Monitor, which has identified 48 North American oil and
gas producers that have filed for bankruptcy since the beginning of
2015. These bankruptcies, including Chapter 7, Chapter 11, and
Canadian cases, involve over $17.3 billion in cumulative secured
and unsecured debt.

As of mid-February, six producers have filed bankruptcy so far in
2016. All indications suggest many more producer bankruptcy filings
will occur throughout the year.

"We are gratified that the information in our reports is helpful to
the industry and press," says Buddy Clark, Houston partner who
heads the firm's energy practice. "As the oil price continues in a
protracted downturn, it is important that everyone understand
exactly what is happening and why. The Monitor and our other
research tools help capture the rolling impact as it moves through
the industry."

Added Ian Peck, chair of the Haynes and Boone Bankruptcy and
Restructuring Section: "This year will bring more distress for many
more energy-related companies.  Previously, we were tracking
distress in real time to assess the full impact of low oil prices
on our clients.  Based on positive client feedback, we decided to
make our data available to others in the industry. It is great to
see the attention our reports have garnered in the marketplace."

With the slump in commodity prices persisting, the lawyers of
Haynes and Boone's Energy and Bankruptcy practice groups are
continuing to follow industry developments. The firm has played a
key role in a number of high-profile E&P and oilfield service
matters, including asset sales, refinancings, debt restructurings
and Chapter 11 cases, representing debtors, creditors, energy
lenders and private equity investors.

This month the firm also updated its Oilfield Services Bankruptcy
Tracker, which profiles insolvency activity among middle-market E&P
service providers. And earlier this year, the Haynes and Boone team
issued its spring 2016 Borrowing Base Redetermination Survey, which
queried oil and gas lenders, borrowers and others in the industry
about expectations for borrowing base redeterminations in light of
oil price uncertainty.

As a result of these reports, the firm is now regularly relied upon
by reporters worldwide for their expertise on the impact of the oil
price downturn.

Notations of the reports have included a front-page mention in the
Wall Street Journal (one of the three times the firm's work was
cited in January and February), CNN Money, CNBC, the Los Angeles
Times, New York Times, including regional newspapers in areas of
active oil and gas operations as well as news sources in the UK,
France and elsewhere around the world. The lawyers regularly update
the figures as the business climate warrants.

Some representative appearances of the Monitor, Tracker and
Redetermination Survey include:

NATIONAL

     Bloomberg Business - Some Bankrupt Oil and Gas Drillers
     Can't Give Their Assets Away

     CNN Money - Big banks brace for oil loans to implode

     New York Times (subscription required) - Despite Global
     Events, U.S. Gasoline Prices Remain Low

     NPR Marketplace - With busts, the past is no indicator of
     the future

     Reuters Legal - U.S. Restructuring Firms Bulk Up as Crude
     Dive Boosts Business

     Wall Street Journal (subscription required) - Oil Plunge
     Sparks Bankruptcy Concerns

INTERNATIONAL

     Agence France Presse English Wire (Westlaw required) - Oil
     Price Plunge Threatens Shale Revolution

     Australian Financial Review (subscription required) -
     Collapsing Oil Price Has Everyone Guessing

     UK Daily Telegraph - US Shale Drillers' Hallelujah Chorus
     Turns to Increasingly Lonely Lament

TRADES

     Fuel Fix - Year After Key OPEC Meeting, Oil Bankruptcies Rise
     to 37

     OilPro - Difficult Times Ahead for US Shale Drillers

     Rigzone - First Half 2016 to be Hard on Oil, Gas

LOCAL

     Houston Business Journal (subscription required) - Energy
     Bankruptcies Expected to Continue

     KTRH Radio - Price Of Oil Keeps Going Down

     Pittsburgh Post-Gazette - Consumers have become accustomed
     And almost indifferent to falling gasoline prices

     San Antonio Express-News -- "Bust Is Taking Hold in the Oil
     Patch"

CONTACT:  

     Douglas R. Bedell
     Haynes and Boone, LLP
     214.651.5815 (office)
     214.704.3058 (cell)
     E-MAIL: doug.bedell@haynesboone.com


[*] Heidi Sorvino Joins LeClairRyan's Manhattan Office
------------------------------------------------------
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.

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.

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.

Heidi J. Sorvino, Esq.
885 Third Avenue
Sixteenth Floor
New York, NY 10022
Tel: 212.634.5047
Fax: 212.634.5053
Email: heidi.sorvino@leclairryan.com


[*] K&L Adds Bryce D. Linsenmayer as Corporate/M&A Partner
----------------------------------------------------------
K&L Gates LLP has added Bryce D. Linsenmayer as a corporate/M&A
partner in the Houston office. He joins K&L Gates from Baker &
Hostetler LLP.

With a focus on U.S. and cross-border mergers and acquisitions and
securities law, Linsenmayer advises issuers and investment bankers
in public offerings, strategic partnerships, and domestic and
foreign private placements of debt and equity securities.  He also
counsels clients on corporate matters in the energy, cyber
security, healthcare, environmental, and technology industries, and
focuses a major part of his practice on advising corporate boards
in insolvency and pre-insolvency situations.  Linsenmayer advises
on public offerings on the New York Stock Exchange, NASDAQ, and
London Stock Exchange, particularly on the AIM market for smaller
cap companies, and served as the U.S. contributing editor to "A
Practitioner's Guide to the AIM Rules".

"We are delighted to have Bryce Linsenmayer join K&L Gates in
Houston," said Randel Young, administrative partner of K&L Gates'
Houston office.  "Bryce works extensively with AIM-listed companies
investing and operating in the United States and internationally,
and his substantial cross-border corporate and transactional
experience brings even greater depth to our inbound and outbound
investment practices, where Bryce will work closely with our
colleagues in London and other European offices on a wide range of
cross-border investments and transactions."

"In addition, we expect Bryce's extensive experience in advising
corporate boards in insolvency and restructuring situations to be
particularly helpful to U.S. oil and gas and oilfield
service/supply clients, who are facing some of the most challenging
economic times in recent memory."

Mr. Linsenmayer is the seventh new partner to join K&L Gates'
corporate/M&A practice in 2016, following the additions of Nick
Humphrey, Hal Lloyd, and Daniel Atkin in Sydney, Fatiha El-Boubsi
in Brussels, Ian Liao in Shanghai, and Michelle Repp in Pittsburgh.
K&L Gates' corporate/M&A practice is one of the most substantial in
the legal industry, with lawyers in 45 offices across five
continents assisting clients across a diverse array of sectors in
the structuring, financing, and completion of domestic,
international, and cross-border transactions.

K&L Gates comprises approximately 2,000 lawyers who practice in
fully integrated offices located on five continents.  The firm
represents multinational corporations, growth and middle-market
companies, capital markets participants and entrepreneurs in every
major industry group well as public sector entities, educational
institutions, philanthropic organizations and individuals.


[*] Levine Joins Morrison & Foerster's N.Y. Restructuring Practice
------------------------------------------------------------------
Morrison & Foerster, a global law firm, on Feb. 18 disclosed that
Jonathan Levine has joined the firm's New York office as a partner
in its Business Restructuring & Insolvency Group.  Mr. Levine comes
to the firm from Andrews Kurth, where he represented ad hoc
bondholder groups, indenture trustees, and creditor committees. His
addition follows the recent arrival of Peter Declercq and Sonya Van
de Graaff as business restructuring and insolvency partners in
London.

"I've known Jon for nearly a decade and have seen what an
outstanding lawyer he is from working opposite him in a number of
different matters," said Brett Miller, managing partner of the
New York office and a partner in the Business Restructuring &
Insolvency Group.  "Jon's practice and his strong corporate
background complement our current restructuring capabilities, and
make him a great resource for our clients. Jon's addition is also
particularly timely, given the significant uptick in bankruptcy
filings so far in 2016 and the current uncertain global economic
climate."

"The growth of our global restructuring platform is a key component
of MoFo's strategic development," said
Lorenzo Marinuzzi, global co-chair of the firmwide Business
Restructuring & Insolvency Group.  "Jon brings distinguished
restructuring experience to MoFo, strengthening an already
impressive bench of high-caliber lawyers.  We are thrilled to have
him join our team."

Mr. Levine's practice involves the representation of official and
ad hoc creditors and equity committees, significant strategic and
financial investors, and debtors/issuers in complex chapter 11
reorganizations and out-of-court restructurings.  Mr. Levine
regularly advises indenture trustees, hedge funds, and other market
participants on a variety of matters.  He earned his J.D. from the
University of California at Los Angeles School of Law and his B.A.
from Stanford University.

"I've worked with numerous lawyers from Morrison & Foerster's
Business Restructuring & Insolvency Group over the years, and the
client-focused culture of the firm was a huge draw for me," said
Mr. Levine.  "Joining the firm gives me the opportunity to expand
my practice and represent clients on particularly critical matters.
I look forward to beginning the next chapter of my career in the
company of attorneys who set the bar in the practice of bankruptcy
law."

Morrison & Foerster's Business Restructuring & Insolvency Group has
one of the strongest practices in the industry and has advised on
many of the most complex matters in recent years.  Its most recent
high-profile cases include representing:

   -- The creditors' committee in the chapter 11 case of Energy
      Future Holdings
   -- Residential Capital as the debtor in its chapter 11 case
   -- The chapter 11 trustee for MF Global
   -- The winding-up board of LBI (formerly Landsbanki) through
      its cross-border restructuring and its recently filed
      composition

                           About MOFO

Morrison & Foerster is a global firm. Its clients include some of
the largest financial institutions, investment banks, Fortune 100,
and technology and life sciences companies.  The Financial Times
has named the firm to its lists of most innovative law firms in
North America and Asia every year that it has published its
Innovative Lawyers Reports in those regions.  In the past few
years, Chambers USA has honored MoFo's Bankruptcy and IP teams with
Firm of the Year awards, the Corporate/M&A team with a client
service award, and the firm as a whole as Global USA Firm of the
Year.


[*] Moody's: Lower Oil Price Outlook Increases Risk for Reg. Banks
------------------------------------------------------------------
The deepening oil price slump will intensify pressure on US
regional banks with high energy-concentrated exposures, said
Moody's Investors Service.

Moody's said it had reduced its forward-looking price estimates in
light of continued oversupply and tepid demand growth in global
energy markets. The ratings agency said the increasing financial
stress on oil producers and oil services companies will also erode
the creditworthiness of banks with material direct loan
concentrations to these companies.

On February 16, 2016, Moody's took action on six banks, placing on
review for downgrade the long-term ratings and standalone baseline
credit assessments (BCA) of BOK Financial Corporation (BOK, A2
review for downgrade), Cullen/Frost Bankers, Inc. (CFR, A2 review
for downgrade), Hancock Holding Company (HBHC, Baa1 review for
downgrade) and Texas Capital Bancshares, Inc. (TCBI, Baa3 review
for downgrade). In addition, Moody's changed two banks' outlooks to
negative: Comerica Incorporated (CMA, A3 negative) and Associated
Banc-Corp (ASBC, Baa1 negative). Moody's said it increased its loss
assumptions for the banks' energy loan portfolios based on its
expectation that oil prices will remain low for longer than
previously anticipated.

In a report expanding on yesterday's actions, Moody's outlined its
stress scenarios and assessed the effect on US banks, which
resulted in rating actions on the country's most
energy-concentrated regional banks. These banks hold significantly
higher direct energy-related loan concentrations than the median
for US regional banks, 40%-110% of tangible common equity, compared
to 10%-15% median for roughly 60 rated US regional banks.

Under Moody's moderate stress scenario, the capital ratios of BOK,
CFR and Hancock would decline, assuming their loan losses are
offset against four quarters of pre-provision income, with a 10%
haircut, net of current dividend levels. Moody's analysts said the
banks' outsized energy-lending concentrations materially increase
their asset risk, especially given the likelihood that oil prices
will remain depressed for an extended period.

"We believe it is reasonable to assume increased problem loans in
the energy sector as a result of weakening liquidity as energy
borrowers experience reduced cash flow, pressure from bank-loan
covenants and a withdrawal of bank and capital market liquidity,"
said Moody's Analyst Megan Snyder.

Moody's noted that falling oil prices will have negative impact
beyond banks' energy portfolios. As such, the ratings agency
included loan loss assumptions on banks' loan portfolios located in
regional economies with outsized oil and gas employment and
economic activity in its testing, which resulted in erosion of
capital for the banks with the largest comparative exposure to
oil-driven economies.

"Falling oil prices have a negative impact not only on the US
regional banks with high energy concentrations, but on the
communities they serve as well," said Snyder. "So in our analysis,
we are looking at the implications of the energy sector turmoil and
how the spill-over effect to commercial and consumer loan
portfolios will intensify for banks that primarily serve oil-driven
local economies."


[*] Now's The Time to Buy Bulk, AllianceBernstein Says
------------------------------------------------------
Fion Li, writing for Bloomberg Brief - Distress & Bankruptcy,
reported that the cost for high-yield companies to borrow in the
bond market is the highest in more than six years -- and that's a
buy signal to AllianceBernstein Holding LP, which sees junk debt
outperforming stocks when the market turns around.

Market turmoil is "making people nervous, but that's a buying
opportunity," Gershon Distenfeld, director of high-yield at
AllianceBernstein, a mutual-fund manager with $456 billion in
assets, said in a Bloomberg Television interview on Feb. 16.
"Everything is oversold because of the fear of energy. Lower oil
prices are very bad for the energy companies, but they are not
necessarily bad for the rest of the market."

The yield on U.S. dollar-denominated speculative-grade debt touched
10.17 percent on Feb. 11, the highest since 2009, according to Bank
of America Merrill Lynch indexes, the Bloomberg report related.
That pushed the extra yield that investors demand to hold U.S.
corporate high-yield debt over Treasuries, or spread, to the most
since 2011, Bloomberg further related.

Bonds sold by energy companies lead losses in fixed-income assets
this year as oil prices tumbled to a 12-year low, the report added.


[*] Oil Bankruptcies May Exceed Recession Level, Deloitte Says
--------------------------------------------------------------
Carolina Wilson, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that bankruptcies in the oil and gas industry
this year could surpass levels seen in the Great Recession,
according to Deloitte LLP.

According to the report, about 35 percent of listed pure-play
companies, which focus only on exploration and production, are at
high risk of facing bankruptcy worldwide, a Deloitte study shows.
The 175 producers at risk saw their combined debt surge to about
$150 billion, while cash flows dwindled, Deloitte said, the report
related.  The wave of potential bankruptcies could be worse than
during the downturn of the end of the last decade as funding
shrinks and hedges unwind, John England, vice chairman and US oil
and gas sector leader for Deloitte, said in a statement Feb. 16,
the report further related.

"Access to capital markets, bankers' support and derivatives
protection, which helped smooth an otherwise rocky road for the
industry in 2015, are fast waning," Mr. England told Bloomberg.  "A
looming capital crunch and heightened cash flow volatility suggest
that 2016 will be a period of tough, new financial choices for the
industry."

Mr. England can be reached at:

John England
Vice chairman, US and Americas Oil & Gas leader
Deloitte LLP
1111 Bagby St.
Suite 4500
Houston, TX 77002-2591
Tel: 713 982 2556
Email: jengland@deloitte.com


[*] PointState Said to Expand Distressed-Debt Effort
----------------------------------------------------
Sridhar Natarajan, writing for Bloomberg Brief - Distress &
Bankruptcy, reported that PointState Capital LP, which famously
made a $1 billion profit wagering on oil market woes, is bolstering
its team for betting on companies that have fallen on hard times in
the credit market.

According to the report, citing people with knowledge of the
matter, the firm, which was started by proteges of Stanley
Druckenmiller, is adding a duo from Citigroup's distressed debt
team.  Jim Russo, a distressed-debt salesman, and analyst Rina
Joshi left the bank to join the asset manager, the report said,
further citing the people.  They will be working with their old
boss Scott Balkan, the former head of distressed-debt at Citigroup
who joined PointState last year, the report added.


[*] Restructuring Partner Gregg Galardi Leaps to Ropes & Gray NY
----------------------------------------------------------------
Gregg Galardi joined global law firm Ropes & Gray LLP as a partner.
Mr. Galardi joins Ropes & Gray from DLA Piper, where he served as
the global co-chair of the restructuring practice.  Prior to that,
he was a partner in the corporate restructuring group at Skadden
Arps Slate Meagher & Flom. Mr. Galardi has extensive U.S. and
international experience and a nationally recognized debtor-side
practice that will enhance Ropes & Gray’s suite of services for
clients at a time of increased demand for restructuring counsel.

Mr. Galardi has represented companies in a variety of industries in
out-of-court workouts as well as pre-packaged, pre-negotiated and
traditional Chapter 11 cases and cross-border restructurings. He
successfully steered CIT Group in the largest prepackaged
bankruptcy ever, and has acted as the debtor's counsel in such
recent and notable cases as Delia's, City Sports, Reddy Ice,
Plastech, Circuit City and Polaroid.  He regularly represents
leading financial institutions, private equity and hedge funds, and
significant creditors in contested and consensual restructuring
proceedings, as well as in-court and out-of-court acquisitions of
distressed assets.  Most recently, Mr. Galardi advised hedge fund
Standard General in connection with the debtor-in-possession
financing and acquisition of the business and assets of
RadioShack.

Mr. Galardi has been cited by clients in Chambers USA as "a
first-rate bankruptcy litigator: he has a wealth of knowledge,
which allows him to really push the envelope and try new
directions."  His addition to the business restructuring group will
not only complement Ropes & Gray's formidable creditor practice,
which has played key roles in recent high-profile, complex
bankruptcy litigations and settlements, including Sabine Oil & Gas
Corp., Residential Capital, LLC (ResCap), and TXU, but augment
Ropes & Gray’s ability to handle debtor representations generated
from the firm’s sponsor client base.

Moreover, as a distinguished appellate litigator and former Third
Circuit clerk, Mr. Galardi adds strength to a bankruptcy appellate
practice that has made two appearances at the U.S. Supreme Court in
the last three years and features Douglas Hallward-Driemeier, one
of the foremost Supreme Court practitioners in the country.

"Gregg's impressive credentials, broad experience and national
reputation will benefit Ropes & Gray's clients around the world,”
said partner Mark Bane, who co-chairs the firm's business
restructuring practice.  "His arrival bolsters our debtor-side
practice, complements our hallmark creditor-side practice, and
expands our capabilities for sponsors and portfolio company clients
in distressed M&A and special situations.  He is a rare talent, and
we are incredibly pleased to welcome him to the firm."

A Fellow of the American College of Bankruptcy, Mr. Galardi has
garnered significant accolades over the course of his career,
including recognition as a "Star Individual" by Chambers &
Partners.  He is ranked nationally and in New York for in Chambers
USA and recommended in The Legal 500 United States.  In 2013 and
2014, the Global M&A Network honored Mr. Galardi as one of the Top
100: Global Restructuring and Turnaround Professionals, and
Turnarounds and Workouts Special Report named him among its
outstanding restructuring lawyers in 2009 and 2011.

Mr. Galardi holds a J.D., cum laude, from the University of
Pennsylvania Law School as well as a Ph.D. in philosophy, an M.A.
in economics and a B.A., cum laude, all from the University of
Pennsylvania. He served as a clerk to the Hon. Collins J. Seitz Sr.
of the U.S. Court of Appeals for the Third Circuit.

With more than 300 lawyers in New York, Ropes & Gray is one of the
20 largest law firms in the city.  The firm has expanded its
presence in New York significantly in the past year with
high-profile additions including capital markets partner Michael
Littenberg in early January 2016 and five lateral partners in 2015:
finance partner Joanne De Silva, mergers & acquisitions partner
John Sorkin, and business & securities litigation partners Robert
Rice, David Hennes and Gregg Weiner. Marc Berger, the former chief
of the Securities and Commodities Fraud Task Force in the Manhattan
U.S. Attorney’s Office, joined the government enforcement
practice in New York in 2014.


[*] Ropes & Gray Cements NY Position with Gregg Galardi
-------------------------------------------------------
Preeminent global law firm Ropes & Gray LLP announced the arrival
of Gregg Galardi as a partner in the business restructuring group
in New York -- the latest high-profile addition to the firm as it
cements its position as a destination for market-leading legal
talent in one of the world’s financial capitals.

Mr. Galardi joins Ropes & Gray from DLA Piper, where he served as
the global co-chair of the restructuring practice. Prior to that,
he was a partner in the corporate restructuring group at Skadden
Arps Slate Meagher & Flom. Mr. Galardi has extensive U.S. and
international experience and a nationally recognized debtor-side
practice that will enhance Ropes & Gray's suite of services for
clients at a time of increased demand for restructuring counsel.

Mr. Galardi has represented companies in a wide variety of
industries in out-of-court workouts as well as pre-packaged,
pre-negotiated and traditional Chapter 11 cases and cross-border
restructurings. He successfully steered CIT Group in the largest
prepackaged bankruptcy ever, and has acted as debtor's counsel in
such recent and notable cases as Delia's, City Sports, Reddy Ice,
Plastech, Circuit City and Polaroid. He regularly represents
leading financial institutions, private equity and hedge funds, and
significant creditors in contested and consensual restructuring
proceedings, as well as in-court and out-of-court acquisitions of
distressed assets. Most recently, Mr. Galardi advised hedge fund
Standard General in connection with the debtor-in-possession
financing and acquisition of the business and assets of
RadioShack.

Mr. Galardi has been cited by clients in Chambers USA as "a
first-rate bankruptcy litigator: he has a wealth of knowledge,
which allows him to really push the envelope and try new
directions." His addition to the business restructuring group will
not only complement Ropes & Gray's formidable creditor practice,
which has played key roles in recent high-profile, complex
bankruptcy litigations and settlements, including Sabine Oil & Gas
Corp., Residential Capital, LLC (ResCap), and TXU, but augment
Ropes & Gray's ability to handle debtor representations generated
from the firm's sponsor client base.

Moreover, as a distinguished appellate litigator and former Third
Circuit clerk, Mr. Galardi adds strength to a bankruptcy appellate
practice that has made two appearances at the U.S. Supreme Court in
the last three years and features Douglas Hallward-Driemeier, one
of the foremost Supreme Court practitioners in the country.

"Gregg's impressive credentials, broad experience and national
reputation will benefit Ropes & Gray's clients around the world,"
said partner Mark Bane, who co-chairs the firm’s business
restructuring practice. "His arrival bolsters our debtor-side
practice, complements our hallmark creditor-side practice, and
expands our capabilities for sponsors and portfolio company clients
in distressed M&A and special situations. He is a rare talent, and
we are incredibly pleased to welcome him to the firm."

A Fellow of the American College of Bankruptcy, Mr. Galardi has
garnered significant accolades over the course of his career,
including recognition as a "Star Individual" by Chambers &
Partners. He is ranked nationally and in New York for in Chambers
USA and recommended in The Legal 500 United States. In 2013 and
2014, the Global M&A Network honored Mr. Galardi as one of the Top
100: Global Restructuring and Turnaround Professionals, and
Turnarounds and Workouts Special Report named him among its
outstanding restructuring lawyers in 2009 and 2011.

Mr. Galardi holds a J.D., cum laude, from the University of
Pennsylvania Law School as well as a Ph.D. in philosophy, an M.A.
in economics and a B.A., cum laude, all from the University of
Pennsylvania. He served as a clerk to the Hon. Collins J. Seitz Sr.
of the U.S. Court of Appeals for the Third Circuit.

"Ropes & Gray's global sensibility, collaborative culture and
strength in the business restructuring space were key drivers in my
decision to join the firm," said Mr. Galardi. "I look forward to
working with its talented attorneys as we build a top-tier
bankruptcy and special situations practice of the highest
caliber."

With more than 300 lawyers in New York, Ropes & Gray is one of the
20 largest law firms in the city. The firm has expanded its
presence in New York significantly in the past year with
high-profile additions including capital markets partner Michael
Littenberg in early January 2016 and five lateral partners in 2015:
finance partner Joanne De Silva, mergers & acquisitions partner
John Sorkin, and business & securities litigation partners Robert
Rice, David Hennes and Gregg Weiner. Marc Berger, the former chief
of the Securities and Commodities Fraud Task Force in the Manhattan
U.S. Attorney’s Office, joined the government enforcement
practice in New York in 2014.

"We are so pleased Gregg has joined us in New York," said Keith
Wofford, co-managing partner of the New York office and a partner
in the business restructuring practice. "We've had tremendous
success of late attracting top-tier talent to the firm to serve our
clients in this dynamic and demanding market. They expect the best
from us, and Gregg is one of the best restructuring lawyers there
is."

Gregg Galardi, Esq.
Tel: 212 596 9139
Email: Gregg.Galardi@ropesgray.com


[*] Texas Appeals Court Axes Atty Fees in Real Estate Blog Row
--------------------------------------------------------------
Shayna Posses at Bankruptcy Law360 reported that a Texas appeals
court found that when a plaintiff drops claims to avoid having them
dismissed as baseless under Texas law, this doesn't make the
defendant a prevailing party entitled to attorneys' fees, tossing
fees awarded to a real estate blog in a fight with the former
president of a homeowners association.  In a matter of first
impression, the Fourteenth Court of Appeals in Houston held that
Swamplot.com wasn't entitled to fees after Mark Thuesen withdrew
his claims that it had violated a settlement in a defamation suit.
A lower court judge had found that the ex-homeowner's association
president had dropped the allegations to head off a bid by the blog
and its lawyers at Doyle Raizner LLP to toss them as baseless.

Mark Thuesen is representing himself pro se. The Swamplot parties
are represented by James A. Hemphill of Graves Dougherty Hearon &
Moody PC.

The suit is Mark Thuesen v. Amerisure Insurance Co. et al., suit
number 14-14-00666, in the Court of Appeals for the Fourteenth
Judicial District of Texas.


[*] Veteran Bankruptcy Litigator Joins Phillips Nizer in NY
-----------------------------------------------------------
Phillips Nizer LLP welcomes Jared R. Clark, a veteran financial
services litigator, as a partner in the firm's Bankruptcy &
Restructuring and Litigation Practices. Mr. Clark was previously a
partner at Bingham McCutchen LLP.

Mr. Clark is the most recent lateral partner to join the firm and
the second from Bingham McCutchen in the last year. Phillips Nizer
had earlier added Mark Elliott, also a seasoned financial services
and restructuring litigator from Bingham.

Mr. Clark represents clients in cases involving creditors' rights,
director and officer liability, and complex contractual disputes.
Throughout his career, Mr. Clark has handled a number of
high-profile and complex matters, notably and most recently, over
two years of negotiation, mediation and litigation in connection
with the City of Detroit's landmark bankruptcy filing. His work
involved significant analysis of Detroit's secured and unsecured
debt issuances, service contracts, financial guaranty insurance
policies, and derivatives programs. The team litigated and then
successfully settled multiple claims related to a complex set of
municipal finance transactions involving over $1.4 billion.

"Jared's addition to our restructuring and litigation practices is
a major coup," said Marc Landis, Phillips Nizer's managing partner.
"Ten months ago, we added Mark Elliott, also a veteran financial
restructuring litigator from Bingham, and we had every intention of
boosting the practices even further. Jared's close working
relationship with Mark for years made this a perfect fit for him
and our firm."

Mr. Clark earned his J.D. from Tulane Law School ('95) and a
Bachelor of Arts degree in Economics and Philosophy from Columbia
College. He is admitted to practice in New York, the U.S. District
Courts of the Southern and Eastern Districts of New York, the
District of Columbia, and the Second and Ninth Circuit Courts.

               About Phillips Nizer LLP

Phillips Nizer, founded in 1926, represents domestic and
international clients in business, finance and real estate
transactions, intellectual property matters, commercial litigation
and tax and estate planning, with a particular focus on the
entertainment, fashion, real estate and technology industries.

Established by world-renowned trial attorney Louis Nizer, Phillips
Nizer's principal office is in Manhattan. The firm is a member of
the International Alliance of Law Firms, an association of
independent, midsized law firms worldwide. To learn more about
Phillips Nizer LLP, visit: www.phillipsnizer.com.

Marc A. Landis, Esq.
Managing Partner
Tel: (212) 841-0705
Email: mlandis@phillipsnizer.com

Stacy Salmon
Media Relations
Tel: (212) 977-9700
Email: ssalmon@phillipsnizer.com


[^] BOOK REVIEW: Transnational Mergers and Acquisitions
-------------------------------------------------------
Author:     Sarkis J. Khoury
Publisher:  Beard Books
Softcover:  292 pages
List Price: $34.95
Review by Gail Owens Hoelscher

Order your personal copy today at http://is.gd/hl7cni

Transnational Mergers and Acquisitions in the United States will
appeal to a wide range of readers.  Dr. Khoury's analysis is
valuable for managers involved in transnational acquisitions,
whether they are acquiring companies or being acquired themselves.

At the same time, he provides a comprehensive and large-scale look
at the industrial sector of the U.S. economy that proves very
useful for policy makers even today.  With its nearly 100 tables
of data and numerous examples, Khoury provides a wealth of
information for business historians and researchers as well.

Until the late 1960s, we Americans were confident (some might say
smug) in our belief that U.S. direct investment abroad would
continue to grow as it had in the 1950s and 1960s, and that we
would dominate the other large world economies in foreign
investment for some time to come.  And then came the 1970s, U.S.
investment abroad stood at $78 billion, in contrast to only $13
billion in foreign investment in the U.S.  In 1978, however, only
eight years later, foreign investment in the U.S. had skyrocketed
to nearly #41 billion, about half of it in acquisition of U.S.
firms.  Foreign acquisitions of U.S. companies grew from 20 in
1970 to 188 in 1978.  The tables had turned an Americans were
worried.  Acquisitions in the banking and insurance sectors were
increasing sharply, which in particular alarmed many analysts.

Thus, when it was first published in 1980, this book met a growing
need for analytical and empirical data on this rapidly increasing
flow of foreign investment money into the U.S., much of it in
acquisitions.  Khoury answers many of the questions arising from
the situation as it stood in 1980, many of which are applicable
today: What are the motives for transnational acquisitions? How do
foreign firms plans, evaluate, and negotiate mergers in the U.S.?
What are the effects of these acquisitions on competition, money
and capital markets;  relative technological position; balance of
payments and economic policy in the U.S.?

To begin to answer these questions, Khoury researched foreign
investment in the U.S. from 1790 to 1979.  His historical review
includes foreign firms' industry preferences, choice of location
in the U.S., and methods for penetrating the U.S. market.  He
notes the importance of foreign investment to growth in the U.S.,
particularly until the early 20th century, and that prior to the
1970s, foreign investment had grown steadily throughout U.S.
history, with lapses during and after the world wars.

Khoury found that rates of return to foreign companies were not
excessive.  He determined that the effect on the U.S. economy was
generally positive and concluded that restricting the inflow of
direct and indirect foreign investment would hinder U.S. economic
growth both in the short term and long term.  Further, he found no
compelling reason to restrict the activities of multinational
corporations in the U.S. from a policy perspective.  Khoury's
research broke new ground and provided input for economic policy
at just the right time.

Sarkis J. Khoury holds a Ph.D. in International Finance from
Wharton.  He teaches finance and international finance at the
University of California, Riverside, and serves as the Executive
Director of International Programs at the Anderson Graduate School
of Business.


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2016.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***