TCR_Public/160220.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, February 20, 2016, Vol. 20, No. 51

                            Headlines

ASSOCIATED WHOLESALERS: Incurs $1.43 Million Net Loss in October
ASSOCIATED WHOLESALERS: November Net Loss Dips to $595,997
ASSOCIATED WHOLESALERS: Posts $550,599 Net Loss in December
F-SQUARED INVESTMENT: Ends November With $6.27 Million Cash
MAGNUM HUNTER: Files Initial Monthly Operating Report

MILLENNIUM LAB: Files Initial Monthly Operating Report
MOLYCORP INC: Net Loss Increases to $26.52 Million in November
NEW GULF RESOURCES: Files Initial Monthly Operating Report
OFFSHORE GROUP: Files Initial Monthly Operating Report

                            *********

ASSOCIATED WHOLESALERS: Incurs $1.43 Million Net Loss in October
----------------------------------------------------------------
Associated Wholesalers, Inc., et al., on January 6, 2016, filed a
monthly operating report for the period from September 26, 2015, to
October 30, 2015.

The Debtors' consolidated income statement showed a net loss of
$1.43 million on net revenues of $18,109 for the period.

At October 30, 2015, the Debtors had $123.69 million in
consolidated total assets, $70.47 million in consolidated total
liabilities, and total shareholders' equity of $53.22 million.

The Debtors started the period with $66.84 million cash. During the
period, the Debtors had $2.57 million in total receipts and $4.79
million in total disbursements. At the end of the period, the
Debtors' cash balance was pegged at $64.62 million.

A copy of the monthly operating report is available at:

    http://bankrupt.com/misc/ASSOWHOLESALERS_oct2015mor.pdf

                   About Associated Wholesalers

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

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

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

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

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

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

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

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


ASSOCIATED WHOLESALERS: November Net Loss Dips to $595,997
----------------------------------------------------------
Associated Wholesalers, Inc., now known as ADI Liquidation, Inc.,
et al., on January 6, 2016, filed a monthly operating report for
the period from October 31, 2015, to November 27, 2015.

The Debtors' consolidated income statement showed a net loss of
$595,997 on net revenues of $769 for the period.

At November 27, 2015, the Debtors had $124.12 million in
consolidated total assets, $71.49 million in consolidated total
liabilities, and total shareholders' equity of $52.62 million.

The Debtors started the period with $64.62 million cash. During the
period, the Debtors had $2.19 million in total receipts and $1.07
million in total disbursements. At the end of the period, the
Debtors had a cash balance was pegged at $65.74 million.

A copy of the monthly operating report is available at:

     http://bankrupt.com/misc/ASSOWHOLESALERS_nov2015mor.pdf

                   About Associated Wholesalers

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

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

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

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

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

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

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

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


ASSOCIATED WHOLESALERS: Posts $550,599 Net Loss in December
-----------------------------------------------------------
Associated Wholesalers, Inc., now known as ADI Liquidation, Inc.,
et al., on January 20, 2016, filed a monthly operating report for
the period from November 28, 2015, to December 25, 2015.

The Debtors' consolidated income statement showed a net loss of
$550,599 on zero net revenues for the period.

At December 25, 2015, the Debtors had $122.93 million in
consolidated total assets, $70.86 million in consolidated total
liabilities, and total shareholders' equity of $52.07 million.

The Debtors started the period with $65.74 million cash. During the
period, the Debtors had $93,462 in total receipts and $1.16 million
in total disbursements. At the end of the period, the Debtors’
cash balance was pegged at $64.67 million.

A copy of the monthly operating report is available at:

    http://bankrupt.com/misc/ASSOWHOLESALERS_dec2015mor.pdf

                   About Associated Wholesalers

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

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

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

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

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

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

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

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


F-SQUARED INVESTMENT: Ends November With $6.27 Million Cash
-----------------------------------------------------------
F-Squared Investment Management, LLC, et al., on Jan. 6, 2016,
filed a monthly operating report for the period November 1 to 30,
2015.

The Debtors' statement of operations showed a net loss of $424,854

on total revenue of $41,249 for November.

As of Nov. 30, 2015, the Debtors listed consolidated total assets
of $17.46 million, consolidated total liabilities of $13.12
million, and $4.34 million in consolidated total shareholders'
equity.

At Nov. 1, the Debtors had $6.82 million cash. They posted total
cash receipts of $51,744 and total disbursements of $595,343 for
the month.  The Debtors ended the month with a $6.27 million cash
balance.

A copy of the monthly operating report is available at:

          http://bankrupt.com/misc/FSquared_nov2015mor.pdf

                    About F-Squared Investments

Headquartered in Wellesley, MA, F-Squared Investments, Inc.
-- http://www.f-squaredinvestments.com/-- is a privately owned   
investment manager.  The firm primarily provides its services to
other investment advisers.  It also caters to individuals, high
net worth individuals, and pension and profit sharing plans.  The
firm
provides index management services.  It manages separate
client-focused equity, fixed income, and multi-asset portfolios.
The firm invests in the public equity, fixed income, and
alternative investment markets across the globe.  It makes all its
investments through exchange-traded funds.  The firm invests in
small-cap stocks of companies across diversified sectors.

F-Squared Investment Management, LLC and eight of its affiliates
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Lead Case
No. 15-11469) on July 8, 2015.  The petitions were signed by Laura
Dagan, the president and CEO.  The cases are assigned to Laurie
Selber Silverstein.

Richards, Layton & Finger, P.A., serves as the Debtors' counsel.
Gennari Aronson, LLP, is the special corporate counsel.  Grail
Advisory Partners LLC (d/b/a PL Advisors) and Managed Account
Services, LLC act as the Debtors' financial advisors and
investment bankers.  Stillwater Advisory Group LLC is the Debtors'
crisis
managers and restructuring advisors.  BMC Group, Inc. acts as the
Debtors' claims and noticing agent.

The Official Committee of Unsecured Creditors retained Brown
Rudnick LLP and The Rosner Law Group LLC as attorneys.


MAGNUM HUNTER: Files Initial Monthly Operating Report
-----------------------------------------------------
Magnum Hunter Resources Corp., et al., filed an initial monthly
operating report on January 5, 2016.

The Debtors' Initial MOR includes a cash flow projection for the
13-week period covering the week ended December 18, 2015 through
the
week ended March 11, 2016.

Magnum Hunter projects $176,000 in total capital expenditures for
the week ended Feb. 26, 2016.

The Debtor projects cash receipts to total $17.12 million for the
13-week period ended March 11.  Disbursements for the
same period is projected at 20 million.

The Initial MOR also include a schedule of retainers paid to
professionals.  Among the Debtors' bankruptcy professionals are
Kirkland & Ellis, Alvarez & Marsal, and Pachulski Stang Ziehl &
Jones LLP.

A copy of the initial monthly operating report is available at:

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

               About Magnum Hunter Resources

Irving, Texas-based Magnum Hunter Resources Corporation, an oil
and
gas company that primarily engaged, through its subsidiaries, in
the acquisition, development, and production of oil and natural
gas
reserves in the United States, said these macroeconomic factors,
coupled with the their substantial debt obligations and natural
gas
gathering and transportation costs, strained their ability to
sustain the weight of their capital structure and devote the
capital necessary to maintain and grow their businesses.  MHRC's
total number of drilling rigs in operation in the United States is
just 38 percent of the number of rigs that were in operation just
one year ago.

Magnum Hunter Resources Corporation and 19 of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead Case
No. 15-12533) on Dec. 15, 2015.  The petition was signed by Gary
C.
Evans, the chairman and CEO.

The Debtors have engaged Kirkland & Ellis, LLP as their general
counsel, Pachulski Stang Ziehl & Jones LLP as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC, as restructuring advisor, and Prime Clerk, LLC as notice,
claims and balloting agent.

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.


MILLENNIUM LAB: Files Initial Monthly Operating Report
------------------------------------------------------
Millennium Lab Holdings II, LLC, et al., filed an initial monthly
operating report on November 25, 2015.

The Debtors' Initial MOR includes a cash flow projection for the
13-week period covering the week ended November 13, 2015 through
the
week ended February 5, 2016.

The Debtor projected cash receipts to total $239.84 million for
the
13-week period ended February 5.

The Initial MOR also include a schedule of retainers paid to
professionals.  Among the Debtors' bankruptcy professionals are
Young
Conaway Stargatt & Taylor, LLP, Skadden, Arps, Slate, Meagher &
Flom LLP,
and Alvarez & Marsal.

A copy of the initial monthly operating report is available at:

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

                   About Millennium Lab

Millennium Lab Holdings II, LLC, Millennium Health, LLC and
Rxante, LLC, providers of laboratory-based diagnostic testing
focused on drugs of abuse and clinical medication monitoring,
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos.
15-12284, 15-12285 and 15-12286, respectively) on Nov. 10, 2015.
The Debtors estimated assets in the range of $100 million to $500
million and liabilities of more than $1 billion.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP
as counsel; Young Conaway Stargatt & Taylor, LLP as conflicts
counsel; Lazard Freres & Co., LLC, as investment banker; Alvarez &
Marsal as financial advisor; and Prime Clerk LLC as claims and
noticing agent.

Judge Laurie Selber Silverstein has been assigned to the case.


MOLYCORP INC: Net Loss Increases to $26.52 Million in November
--------------------------------------------------------------
Molycorp, Inc., et al., on Dec. 31, 2015, filed a monthly
operating
report for November 2015.

The Debtors' statement of operations showed a net loss of $26.52
million in November on $13.24 million total revenue, an increase
from
the $23.1 million net loss posted for the previous month.

As of Nov. 30, 2015, the Debtors listed consolidated total assets
of $2.13 billion, consolidated total liabilities of $2.08 billion,
and $48.58 million in consolidated total shareholders' equity.

The Debtors had a beginning book balance of $128.87 million at the
start of the month.  They posted total cash receipts of $6.247
million and total disbursements of $10.59 million.  Taking into
account net intercompany funds totaling $2.662 million, the
Debtors
had an ending book balance of $121.87 million.

A copy of the monthly operating report is available at:

   http://bankrupt.com/misc/MolycorpInc_nov2015mor.pdf

                      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.

                           *     *     *

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.


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.


NEW GULF RESOURCES: Files Initial Monthly Operating Report
----------------------------------------------------------
New Gulf Resources, LLC, et. al., filed an initial monthly
operating report on January 4, 2016.

The Debtors' Initial MOR includes a cash flow projection for the
13-week period covering the week ended December 20, 2015 through
the week ended March 13, 2016.

For the week ended Feb. 28, 2016, the Debtors project total net
receipts to be $3.14 million and total disbursements to be $2.41
million.

The Initial MOR also include a schedule of retainers paid to
professionals. Among the Debtors' bankruptcy professionals are
Zolfo Cooper LLC, Baker Botts LLC, and Young Conaway Stargatt &
Taylor, LLP.

A copy of the monthly operating report is available at:

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

                     About New Gulf Resources

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

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

The Company currently employs 55 people.

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

                      *     *     *

Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the
District of Delaware on Feb. 4, 2016, approved the disclosure
statement explaining New Gulf Resources, LLC, et al.'s First
Amended Joint Plan of Reorganization and scheduled the
confirmation hearing for April 11, 2016, at 10:00 a.m. (prevailing
Eastern
Time).

The Plan Objection Deadline and Voting Deadline are established as
March 24, 2016.

Prior to the Disclosure Statement hearing, the Debtors amended the
Plan outline to provide that holders of Class 6 - Subordinated PIK
Notes Claims will be entitled to receive: (i) if Class 6 votes to
accept the Plan, its Pro Rata share of 12.5% of the New Equity
Interests that are issued and outstanding as of the Effective
Date; or (ii) if Class 6 does not vote to accept the Plan, its Pro
Rata
share of 5% of the New Equity Interests that are issued and
outstanding as of the Effective Date.


OFFSHORE GROUP: Files Initial Monthly Operating Report
------------------------------------------------------
Offshore Group Investment Limited, et al., filed an initial
monthly
operating report on December 18, 2015.

The Debtors' Initial MOR includes a cash flow projection for the
13-week period covering the week ended December 4, 2015 through
the
week ended February 26, 2016.

The Debtor projects cash receipts to total $131.39 million for the
13-week period ended February 26.  Total operating disbursements of
$98.47
million and total restructuring disbursements of $36.37 million
projected for the same period.

The Initial MOR also include a schedule of retainers paid to
professionals.  Among the Debtors' bankruptcy professionals are
Weil Gotshal & Manges LLP, Lazard Freres & Co LLC, Alvarez Marsal
North America, LLC, and Richards, Layton & Finger.

A copy of the initial monthly operating report is available at:

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

                     About Offshore Group

Offshore Group Investment Limited is an international offshore
drilling company operating a fleet of modern, high-specification
drilling units around the world.  Its principal business is to
contract their drilling units, related equipment, and work crews
to drill underwater oil and natural gas wells for major, national,
and independent oil and natural gas companies.

Offshore Group Investment Limited and 23 other units of publicly
traded Vantage Drilling Company filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12421) on Dec. 3, 2015
to pursue a prepackaged restructuring backed by Vantage.

Christopher G. DeClaire, the authorized officer, signed the
petition.

The Debtors have engaged Weil, Gotshal & Manges LLP as counsel;
Richards, Layton & Finger, P.A. as co-counsel; Lazard Freres & Co.
LLC as investment banker; Alvarez & Marsal North America, LLC, as
restructuring advisor; and Epiq Bankruptcy Solutions, LLC as
claims and noticing agent.

                          *     *     *

Offshore Group on Feb. 10, 2016, disclosed that it has
successfully
completed its prepackaged restructuring and recapitalization and
emerged from chapter 11 bankruptcy protection.  The Debtors'
prepackaged plan was confirmed by the bankruptcy judge Jan. 15,
2016.


                            *********

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.

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