TCR_Public/160227.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 26, 2016, Vol. 20, No. 57

                            Headlines

800 BUILDING: Plan Confirmed After Vilks Objection Resolved
800 BUILDING: Reorganization Plan Became Effective Jan. 28
99 CENTS: Bank Debt Trades at 41% Off
ABENGOA BIOENERGY: Proposes $41M DIP Financing From Sandton
ABENGOA BIOENERGY: Seeks Joint Administration of Cases

ABENGOA BIOENERGY: Taps Prime Clerk as Claims & Noticing Agent
ABENGOA BIOENERGY: Wants April 8 Deadline to File Schedules
AEOLUS PHARMACEUTICALS: FDA Lifts Clinical Hold for AEOL 10150
ALPHA MEDIA: S&P Affirms 'B' CCR, Outlook Remains Stable
AMERICAN AIRLINES: Unions Seek Distribution Under Ch. 11 Plan

ATNA RESOURCES: Has Court Authority Pay $100K to Key Employees
AVAGO TECHNOLOGIES: Bank Debt Trades at 2% Off
BAHA MAR: Ch. 11 Case of Northshore Mainland Dismissed
BATTLE CREEK: Hearing on Case Dismissal Continued to March 28
BIOSTAR PHARMACEUTICALS: Regains NASDAQ Listing Compliance

BOMBARDIER RECREATIONAL: Bank Debt Trades at 3% Off
CAESARS ENTERTAINMENT: Bank Debt Trades at 14% Off
CAESARS ENTERTAINMENT: Reports Q4 and Full-Year 2015 Results
CAPITOL LAKES: Proposes April 1 Deadline for Filing Claims
CARDIAC SCIENCE: Dietzen, Gutermuth No Longer Members of Committee

CITY OF CENTERTON: Moody's Cuts Rating on 2014 Rev. Bonds to Ba2
CLEVELAND BIOLABS: Incurs $13 Million Net Loss in 2015
CRAIG ENERGY: Files for Ch. 11 as Revenues Sink
CRAIG WALKER: U.S. Trustee Forms Three-Member Committee
DAVID'S BRIDAL: Bank Debt Trades at 19% Off

DEERFIELD RANCH WINERY: Can Use Cash Collateral Until Feb. 29
DEERFIELD RANCH WINERY: Makes Immaterial Modifications to Plan
DEERFIELD RANCH: To Seek Confirmation of Amended Plan Today
DEX MEDIA: Bank Debt Trades at 57% Off
DON RICHARD ILEY: U.S. Trustee Forms Seven-Member Committee

EAST COAST BROKERS: Trustee Seeks Release of $115K from NBC
EASTERN ILLINOIS: Moody's Cuts AFS Revenue Bonds to 'Ba1'
EMPIRE RESORTS: Has 27.1 Million Shares Resale Prospectus
ENERGY TRANSFER: Bank Debt Trades at 30% Off
EPICOR SOFTWARE: Bank Debt Trades at 6% Off

ERG INTERMEDIATE: Plan Agent Resolves MMI Services Claim
FERGUSON CONVALESCENT: Case Summary & 20 Top Unsecured Creditors
FOREST PARK FRISCO: $19-Mil. Sale to HCA Unit Approved
FOREST PARK FRISCO: Hearing Over Cigna Contract Moved to March 17
FORTESCUE METALS: Bank Debt Trades at 29% Off

FPMC FORT WORTH: Court Approves Franklin Hayward as Counsel
FPMC FORT WORTH: Court OKs Diamond McCarthy as Real Estate Counsel
FPMC SAN ANTONIO: Diamond McCarthy Approved as Special Counsel
FRESH & EASY: Debtor, UCC Oppose Lewis Class Certification Bid
GMAC MORTGAGE: Settlement Fairness Hearing Scheduled for May 24

GO YE VILLAGE: Armstrong Bank Wants 25-Acre Property
GUESTLOGIX INC: Court Approves Interim Facility, SISP Process
GUIDED THERAPEUTICS: Effects a 1-for-100 Reverse Stock Split
GULFMARK OFFSHORE: Moody's Cuts Corporate Family Rating to Caa3
GYMBOREE CORP: Bank Debt Trades at 48% Off

H. KREVIT: Delays Auction for 2nd Time Due to Environmental Issues
H. KREVIT: Seeks to Extend ACM Credit Facility to March 18
HALAIS GROUP: Voluntary Chapter 11 Case Summary
HEBREW HOSPITAL: Court Directs Trustee to Appoint Ombudsman
HEBREW HOSPITAL: Seeks $2-Mil. DIP Financing from HHH Westchester

HIGHWOODS PROPERTIES: Fitch Withdraws BB+ Pref. Stock Rating
HYDROCARB ENERGY: To Hold "Say on Pay" Votes Triennially
INEOS GROUP: Bank Debt Due 2018 Trades at 4% Off
INEOS GROUP: Bank Debt Due 2022 Trades at 7% Off
INFORMATICA CORP: Bank Debt Trades at 7% Off

INFRAX SYSTEMS: Incurs $63,000 Net Loss in H1 2015
INTERNATIONAL TECHNICAL: Panel May Hire Conflicts Counsel
INTERNATIONAL TECHNICAL: Panel Questions Dinsmore Hiring
JTS LLC: Plan Disclosures Hearing Moved to March 14
JTS LLC: Stipulation on Cash Use Until March 31 Approved

KALOBIOS PHARMACEUTICALS: Wants Quick OK to Buy Chagas Drug Rights
KAR AUCTION: S&P Assigns 'BB' Rating on New Credit Facility
LEVEL 3: Laurinda Pang No Longer Serves as EVP and CAO
LIGHTSQUARED INC: 2nd Circuit Questions Valuation of Start Up
LIQUIDMETAL TECHNOLOGIES: Grants Stock Options to Executives

LWP CAPITAL: Provides Update on Liquidation Proceedings
MALIBU LIGHTING: Can Hire J. Eisch as Accountants
MEDICURE INC: Tirofiban HCl Analysis Presented at CRT Conference
MEMORIAL RESOURCE: S&P Raises Rating on Sr. Unsec. Debt to 'B'
METALDYNE CORP: Bank Debt Trades at 5% Off

MIDSTATES PETROLEUM: Common Stock Delisted From NYSE
MIG LLC: Court OKs Rejection of David Lee Contract
MISSISSIPPI PHOSPHATES: Committee Seeks to Prosecute $1.9MM Suit
MODULAR SPACE: S&P Affirms 'B-' Rating on Senior Secured Notes
MOLYCORP INC: Reports Breakthrough Settlement With Creditors

NATURAL PORK: Consensual Plan Confirmed by Judge
NEIMAN MARCUS: Bank Debt Trades at 15% Off
NORANDA ALUMINUM: Meeting of Creditors Set for April 13
NORANDA ALUMINUM: U.S. Trustee Forms Seven-Member Committee
NW VALLEY: Has Deal Allowing KEH's Claim for $2.15-Mil.

ODEBRECHT OFFSHORE: Moody's Cuts Sr. Bond/Debenture Rating to Caa3
OUTER HARBOR: Terex Seeks $141K Monthly Payment
PACIFIC WEBWORKS: Files for Chapter 11 Protection in Utah
PARAGON OFFSHORE: Has Interim Authorization to Use Cash Collateral
PARAGON OFFSHORE: U.S. Trustee to Hold 341 Meeting on March 24

PICO HOLDINGS: Leder Begins Solicitation Process
PREMIER GOLF: Seeks Approval of Premium Finance Agreement with IPFS
QUALITY HOME: S&P Affirms 'B-' CCR, Outlook Stable
QUANTUM MATERIALS: Stockholders Re-Elects 5 Directors to Board
QUIKSILVER INC: Hired KPMG LLP as Audit Advisors

RELATIVITY FASHION: Court OKs Houlihan Lokey as Financial Advisor
REPUBLIC AIRWAYS: Business as Usual While in Chapter 11
REPUBLIC AIRWAYS: Case Summary & 40 Largest Unsecured Creditors
REPUBLIC AIRWAYS: Files for Chapter 11 After Pilot Shortage
REPUBLIC AIRWAYS: Seeking Joint Administration of Cases

REXNORD: Bank Debt Trades at 5% Off
RICEBRAN TECHNOLOGIES: Files Series F Certificate of Determination
RIVERBED TECHNOLOGY: Bank Debt Trades at 3% Off
SALEM, NJ: Moody's Affirms Ba3 Rating on General Obligation Debt
SALTY DOG: Case Summary & 19 Largest Unsecured Creditors

SAMSON RESOURCES: Texas Tax Authorities Object to Sale of Oil Wells
SCHAHIN II: Moody's Withdraws 'C' Rating on Notes Due 2022
SEAL123 INC: Plan Trustee Wants Removal Period Moved to July 11
SFX ENTERTAINMENT: To Be Removed from Nasdaq Listing on March 4
SHASTA ENTERPRISES: Trustee Can Use Cash Collateral Until June 30

SHERWIN ALUMINA: United Steelworkers Appointed as Committee Member
SINOFRESH HEALTHCARE: Amends 2007 Annual Report
SOMERSET REGIONAL: Bid to Hire IAC as Broker Challenged
SOMERSET REGIONAL: Ordered to Surrender 22 Vehicles to PACCAR
SOMERSET REGIONAL: Wants to Hire Colliers to Sell 12 Properties

SOMERSET REGIONAL: Wants to Hire RMB Realty to Sell 5 Properties
SRAM LLC: S&P Lowers Corp. Credit Rating to 'B', Outlook Stable
STAR COMPUTER: Avila Rodriguez Okayed as Real Estate Counsel
STAR COMPUTER: Taps Cherry Bakaert and Monte Gordon as Accountants
SUMMIT MATERIALS: Moody's Gives 'Caa1' Rating on Proposed Sr. Notes

SUPERVALU: Bank Debt Trades at 5% Off
SWIFT ENERGY: Court Authorizes Joint Administration of Cases
SWIFT ENERGY: Lazard Freres Approved as Investment Banker
SWIFT ENERGY: Lists $416-Mil. in Assets, $1.2-Bil. in Debts
T-L BRYWOOD: Has Access to Cash Collateral Until March 31

T-L BRYWOOD: Warring Parties Go to March 3 Mediation Conference
TELKONET INC: Extends Maturity of Heritage Bank Facility to 2018
TERRAFORM POWER: Moody's Cuts Corporate Family Rating to B3
TORQUED-UP ENERGY: Wants to Tap Maltby & Wilmoth as Tax Preparers
TRANSUNION: S&P Raises CCR to 'BB-', Outlook Positive

TRAVELPORT INC: Bank Debt Trades at 5% Off
TRINITY TOWN: U.S. Trustee Unable to Appoint Committee
ULTIMATE NUTRITION: Plan Confirmed; Final Decree Due March 31
VARIANT HOLDING: Units Propose DSI & B. Sharp as CRO
VARIANT HOLDING: Units Seek Nod for Pachulski as Counsel

VERSO CORP: $100-Mil. DIP Financing Has Interim Approval
VERSO CORP: Creditors Say $775M DIP Loan Leaves Them Hanging
WAVE SYSTEMS: Common Stock Delisted From NASDAQ
WIDEOPENWEST FINANCE: Bank Debt Trades at 4% Off
WOOD RESOURCE: Hires Hopping Green as Special Legal Counsel

WOOD RESOURCE: Seeks to Retain Patrice Boyes as Special Counsel
XTERA COMMUNICATIONS: Raises Going Concern Doubt Amid Losses
[*] CyberlawStudio & COTS Advogados Enter Into Collaboration Deal
[*] Moody's Says Chemical Firms' 5Yr Refinancing Needs up 18%
[*] Regulator Warns Risk of Mortgage Giants Under Gov't. Control

[^] BOOK REVIEW: Competitive Strategy for Health Care Organizations

                            *********

800 BUILDING: Plan Confirmed After Vilks Objection Resolved
-----------------------------------------------------------
The 800 Building, LLC, and 1016 West Hollywood LLC, have won
approval of their reorganization plan.

Following a hearing on Jan. 20, Judge Jacqueline P. Cox entered an
order confirming the Debtors' First Amended Joint Plan of
Reorganization and approving the Disclosure Statement.

At a hearing, counsel for the lone objector, Joseph and Igor Vilk,
informed the Court that (a) the Vilks have agreed to resolve all
claims with the Debtors, Leon and Helen Petcov, by allowance of
their claims against the Debtors in the aggregate amount of
$250,000 and (b) the Vilks do not now, nor will they ever, own or
in any fashion have any interest in any claims against the Petcov
Parties.

The judge held that the First Amended Plan satisfies the
requirements of 11 U.S.C. Sec. 1129(a) and (b).

                         Plan Timeline

On Nov. 3, 2015, the Debtors filed a proposed Joint Plan of
Reorganization and related Disclosure Statement.

On Nov. 3, 2015, the Plan and Disclosure Statement were transmitted
to creditors and equity security holders.

Creditors entitled to vote on the Plan submitted their ballots and
a report of voting was filed with the Court demonstrating that at
least one impaired class for each of the Debtors has accepted the
Plan.

On Dec. 30, 2015, creditors Joseph and Igor Vilk filed an objection
to the Plan.

On Jan. 6, 2015, the Debtors filed their response to the
objection.

On Jan. 20, 2016, the Debtors filed the First Amended Joint Plan
ofReorganization, which made certain-non adverse, immaterial
modifications to the Joint Plan.  A red-lined copy of the First
Amended Plan is available for free at:

   http://bankrupt.com/misc/800_Building_128_Am_Plan_RL.pdf

On Jan. 21, 2016, the Court conducted a combined hearing on the
adequacy of the Disclosure Statement and confirmation of the First
Amended Joint Plan.

On Jan. 22, 2016, the Court entered its order confirming the Plan
and approving the Disclosure Statement.  A copy of the order is
available for free at:

   http://bankrupt.com/misc/800_Building_137_Plan_Conf_Ord.pdf

                        The Chapter 11 Plan

As reported in the TCR, The 800 Building, and 1016 West Hollywood's
Chapter 11 plan proposes to pay unsecured creditors in full and let
the equity sponsors, Leon and Helen Petcov, retain 100% of the
membership interests in exchange for a contribution of $200,000 in
cash plus any and all claims or causes of action of the Petcovs
against Fine Homes, LLC.

The Debtors' property secures outstanding debt totaling
approximately $20.67 million, consisting of approximately (a) $5.52
million in first- and second- priority secured borrowings by the
Hollywood Debtor, (b) an additional $15.2 million in obligations of
their non-debtor affiliates for which the Properties serve as
collateral.  The Hollywood Debtor also has approximately $144,000
in unsecured debt, while the 800 Building Debtor has approximately
$1.486 million in unsecured debt, of which approximately $1 million
has been asserted by a single party, Fine Homes, LLC, and is
disputed by the Hollywood Debtor.  

Fine Homes also asserts a third-priority lien against the Hollywood
Property for this same amount.  Finally, the Hollywood Property is
subject to a fourth-priority lien in favor of 1st Equity Bank
Northwest which secures a note owed to 1st Equity by Fine Homes,
and 1st Equity also has a judgment against Leon and Helen Petcov on
their guarantee of the 1st Equity Note.

The Reorganized Debtors will emerge with substantially less debt,
after giving effect to the restructuring transactions contemplated
by the Plan, which include:

   * payment in full satisfaction of the $5.52 million in principal
obligations owed to IBC under the senior secured Prepetition Credit
Agreements (i.e., the Class 3 and Class 4 Claims) and a reduction
of the other first-priority obligations of
the Debtor by approximately $2.5 million on the following terms:
(a) a reduction of $300,000 of the obligations of the Prepetition
Credit Agreements and (b) payment in full of the remaining
$5,200,000 in principal obligations owed under the senior secured
Prepetition Credit Agreements on or before the 18-month anniversary
of the Effective Date of the Plan;

   * elimination of $8.1 million in cross-collateralized,
first-priority secured obligations owed to IBC upon repayment in
full of the Prepetition Credit Agreement Claims on or within 18
months of the Effective Date;

   * satisfaction and release of the Fourth Priority Lien Claims of
1st Equity by payment on the Effective Date of $3 million to 1st
Equity in exchange for the 1st Equity Note and Mortgage and the
issuance of the $3.7 million 1st Equity Note Purchase Promissory
Note;

   * resolution of the Fine Homes' Third Prior Line Claim against
the Hollywood Debtor and the underlying $1 million claim filed by
Fine Homes against both the Debtors, after applying the Debtor's
offsetting claims against Fine Homes.

   * payment in full of the Allowed Other Priority Claims and Other
Secured Claims;

   * payment in full of the present value, as of the Effective
Date, of the Allowed Chicago Water Department Claims, in the form
of 60 monthly, equal cash payments;

   * payment in full of the present value, as of the Effective
Date, of the Allowed General Unsecured Claims, in the form of 12
monthly, equal cash payments; and

   * 100 percent of the New Membership Interests in the Reorganized
Debtor will be distributed to the Equity Sponsor in exchange for
the New Equity Contribution.

The consummation of the financial restructurings contemplated by
the Plan will provide the Reorganized Hollywood Debtor with the
ability to refinance its debt obligations at the end of 18 months.
In addition, during that time, the Plan will protect the
Reorganized Debtors from efforts of the creditors of its non-debtor
affiliates to seek to enforce their liens on the Property.

Because borrowings under IBC notes that will replace the
Prepetition Credit Agreement may be paid down at any time during
the 18 months following the Effective Date, the Reorganized Debtors
will be able to take advantage of potential refinancing
opportunities, which are likely to be more available as a result of
the improved capital structure.

The 800 Building and 1016 West Hollywood's attorneys:

         David J. Fischer, Esq.
         Phillip W. Nelson, Esq.
         LOCKE LORD LLP
         111 South Wacker Drive
         Chicago, IL 60606
         Tel: (312) 201-2000
         Fax: (312) 201-2555
         E-mail: david.fischer@lockelord.com
                 phillip.nelson@lockelord.com

                      About The 800 Building

The 800 Building, LLC, owns and operates two adjacent but related
rental properties in downtown Louisville, Kentucky: (a) a 246-unit
residential apartment building known as The 800 Building, with a
street address of 800 South 4th Street; and (b) a 48-slot parking
garage, with a street address of 820 South 4th Street.  1016 West
Hollywood, LLC, owns an apartment building commonly known as 1016
West Hollywood Avenue, Chicago, Illinois.  The companies are owned
by Leon and Helen Petcov and are managed by Leon Petcov.

The 800 Building sought Chapter 11 protection (Bankr. N.D. Ill.
Case No. 15-17314) on May 15, 2015.  The Debtor disclosed
$21,564,298 in assets and $33,706,487 in liabilities as of the
Chapter 11 filing.

1016 West Hollywood sought Chapter 11 protection (Bankr. N.D. Ill.
Case No. 14-02696) on Jan. 29, 2014.  The Debtor estimated assets
and debt of $1 million to $10 million.

The cases are assigned to Judge Jacqueline P. Cox.  

The Debtors tapped Phillip W. Nelson, Esq., at Locke Lord LLP, in
Chicago, as counsel.


800 BUILDING: Reorganization Plan Became Effective Jan. 28
----------------------------------------------------------
The 800 Building, LLC, and 1016 West Hollywood LLC, announced that
their First Amended Joint Plan of Reorganization became effective
Jan. 28, 2016.

Judge Jacqueline P. Cox on Jan. 22, 2016, entered an order
confirming the Debtors' First Amended Joint Plan of Reorganization
and approving the Disclosure Statement.

Requests for payment of Administrative Expense Claims that accrued
on or before the Effective Date that were not otherwise paid in the
ordinary course of business must be filed with the Bankruptcy
Court and served on the Reorganized Debtor at Locke Lord LLP, 111
South Wacker Drive, Chicago, Illinois 60606, Attn: Phillip W.
Nelson, no later than March 29, 2016 -- Administrative Claim Bar
Date -- which is the first business day that occurs 60 days after
the Effective Date.

All Claims for damages arising from the rejection of Executory
Contracts will be filed by the Holder of such Claim with the
Bankruptcy Court, and served on the Reorganized Debtors at Locke
Lord LLP, 111 South Wacker Drive, Chicago, Illinois 60606, Attn:
Phillip W. Nelson, and all other parties required to receive
notice, no later than 30 days from the Effective Date.

A copy of the Court's order confirming the Plan is available for
free at:

   http://bankrupt.com/misc/800_Building_137_Plan_Conf_Ord.pdf

                      About The 800 Building

The 800 Building, LLC, owns and operates two adjacent but related
rental properties in downtown Louisville, Kentucky: (a) a 246-unit
residential apartment building known as The 800 Building, with a
street address of 800 South 4th Street; and (b) a 48-slot parking
garage, with a street address of 820 South 4th Street.  1016 West
Hollywood, LLC, owns an apartment building commonly known as 1016
West Hollywood Avenue, Chicago, Illinois.  The companies are owned
by Leon and Helen Petcov and are managed by Leon Petcov.

The 800 Building sought Chapter 11 protection (Bankr. N.D. Ill.
Case No. 15-17314) on May 15, 2015.  The Debtor disclosed
$21,564,298 in assets and $33,706,487 in liabilities as of the
Chapter 11 filing.

1016 West Hollywood sought Chapter 11 protection (Bankr. N.D. Ill.
Case No. 14-02696) on Jan. 29, 2014.  The Debtor estimated assets
and debt of $1 million to $10 million.

The cases are assigned to Judge Jacqueline P. Cox.  

The Debtors tapped Phillip W. Nelson, Esq., at Locke Lord LLP, in
Chicago, as counsel.


99 CENTS: Bank Debt Trades at 41% Off
-------------------------------------
Participations in a syndicated loan under which 99 Cents Only
Stores is a borrower traded in the secondary market at 59.20
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.33 percentage points from the
previous week.  99 Cents pays 350 basis points above LIBOR to
borrow under the $614 million facility. The bank loan matures on
Jan. 13, 2019 and carries Moody's Caa1 rating and Standard & Poor's
B- rating.  The loan is one of the biggest gainers and losers among
247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


ABENGOA BIOENERGY: Proposes $41M DIP Financing From Sandton
-----------------------------------------------------------
Abengoa Bioenergy US Holding, LLC, and its affiliated debtors are
seeking permission from the U.S. Bankruptcy Court for the Eastern
District of Missouri to obtain a senior secured postpetition
financing of up to $41 million from The Kimberley Fund, LP, an
affiliate of Sandton Capital Partners, L.P.

The Debtors also seek approval to use cash collateral in which
their prepetition lenders have an interest.

The first-day hearing is scheduled for March 2, 2016, at 10:00 a.m.
(Prevailing Central Time).

The Debtors assert that immediate access to financing and use of
Cash Collateral is necessary to enhance their liquidity, resume and
maintain plant operations, provide necessary working capital during
the pendency of these Chapter 11 cases, and work towards an
eventual sale transaction.

"[F]ailure to obtain approval of the DIP Loan will lead to a
wind-down of the Debtors' business operations which, in turn, will
preclude any sale of the Debtors' assets and adversely affect the
value ultimately received by stakeholders," said Richard W. Engel,
Jr., Esq., at Armstrong Teasdale LLP, counsel for the Debtors.

On Feb. 24, 2016, the Debtors entered into a postpetition financing
arrangement pursuant to a debtor-in-possession credit and security
agreement with The Kimberley Fund, LP.  The DIP Facility has a
maximum borrowing amount of $41 million, $8 million of which will
be available for draws upon entry of the Court's interim order.

The DIP Loan will be available to the Borrowers to fund each
Borrower's expenses in accordance with a budget.  The Budget will
be agreed to by the Borrowers and the DIP Lender and will include,
without limitation, budgeted professional fees.  An amount not in
excess of $3.8 million of the DIP Loan proceeds may be used for the
purpose of restarting the York, Nebraska, facility.  In addition,
excess cash generated by the Ravenna, Nebraska, facility's
operations may also be used for the restart of the York facility.

The Lender will be entitled to immediate repayment of all
outstanding obligations under the DIP Loan on the earliest of: (a)
the effective date of the plan of reorganization or closing on a
sale of substantially all of the Borrowers' assets; (b) the
effective date of the closing of the sale of the Ravenna plant; and
(c) through and including 180 days following the entry of the DIP
Interim Order.

The DIP Loan interest rates and fees will be as follows:

  (i) Initial Fee: The Borrowers will pay the Lender an initial
      fee of $1 million, which fee will be fully earned as, and
      payable on the date of the payment, of the Initial Draw
     (the Initial Fee will be payable as a draw under the DIP
      Loan).

(ii) Cash Interest: The Borrowers will pay the Lender cash
      interest at 14% per annum on the outstanding Principal
      Amount.  This interest will be payable monthly.  The
      Borrowers, at their option, may PIK the Cash Interest
      on a monthly basis.  Cash interest that is PIK'ed will
      not be counted towards to draw limits.

(iii) Exit Fee: The Borrowers will pay the Lender an exit fee
      of $1.5 million which will be earned on the date of the
      Initial Draw, but will be payable on the earlier to occur
      of the date: (a) the DIP Loan is required repaid in full;
      and (b) the DIP Loan is paid in full or in part prior (on
      a pro rata basis) to the Repayment Date.

(iv) Default Interest Rate: During the occurrence and
      continuance of an Event of Default, the Cash Interest
      rate will increase by 700 basis points.

  (v) Renewal Fee.  If the DIP Loan is not repaid on or
      before the Repayment Date, time being of the essence,
      the Borrowers will pay to the Lender, in addition to all
      other amounts as set forth in this Term Sheet, an
      additional renewal fee of $1.5 million, which will
      extend the Repayment Date by an additional 180 days.

The Debtors propose to grant the DIP Lender a valid, binding,
continuing, enforceable, fully-perfected first priority senior
security interest in and lien upon all prepetition and postpetition
property of the Debtors, whether existing on the Petition Date or
thereafter acquired, including, without limitation, all cash and
cash collateral of the Debtors and any investment of such cash and
cash collateral, inventory, accounts receivable, other rights to
payment whether arising before or after the Petition Date,
contracts, properties, plants, equipment, general intangibles,
documents, instruments, interests in leaseholds, real properties,
patents, copyrights, trademarks, trade names, other intellectual
property, capital stock of subsidiaries and the proceeds, product,
offspring or profits of all the foregoing.

The proposed Interim DIP Order provides that the DIP Lender will be
granted the right to credit bid (pursuant to Section 363(k) of the
Bankruptcy Code and/or applicable law) the DIP Loan, in whole or in
part, in connection with any sale or disposition of assets in the
Chapter 11 cases.

                     About Abengoa Bionergy

Abengoa Bioenergy is a collection of indirect subsidiaries of
Abengoa S.A. ("Abengoa"), a Spanish company founded in 1941. The
global headquarters of Abengoa Bioenergy is in Chesterfield,
Missouri.  With a total investment of $3.3 billion, the United
States has become Abengoa S.A.'s largest market in terms of sales
volume, particularly from developing solar, bioethanol, and water
projects.

Spanish energy giant Abengoa S.A. is an engineering and clean
technology company with operations in more than 50 countries
worldwide that provides innovative solutions for a diverse range of
customers in the energy and environmental sectors.  Abengoa is one
of the world's top builders of power lines transporting energy
across Latin America and a top engineering and construction
business, making massive renewable-energy power plants worldwide.

On Nov. 25, 2015, in Spain, Abengoa S.A. announced its intention to
seek protection under Article 5bis of Spanish insolvency law, a
pre-insolvency statute that permits a company to enter into
negotiations with certain creditors for restricting of its
financial affairs.  The Spanish company is facing a March 28, 2016,
deadline to agree on a viability plan or restructuring plan with
its banks and bondholders, without which it could be forced to
declare bankruptcy.

Gavilon Grain, LLC, et al., on Feb. 1, 2016, filed an involuntary
Chapter 7 petition for Abengoa Bioenergy of Nebraska, LLC ("ABNE")
and on Feb. 11, 2016, filed an involuntary Chapter 7 petition for
Abengoa Bioenergy Company, LLC ("ABC").  ABC's involuntary Chapter
7 case is Bankr. D. Kan. Case No. 16-20178.  ABNE's involuntary
case is Bankr. D. Neb. Case No. 16-80141.  An order for relief has
not been entered, and no interim Chapter 7 trustee has been
appointed in the Involuntary Cases.  The petitioning creditors are
represented by McGrath, North, Mullin & Kratz, P.C.

On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and five
affiliated debtors each filed a Chapter 11 voluntary petition in
St. Louis, Missouri, disclosing total assets of $1.3 billion and
debt of $1.2 billion.  The cases are pending before the Honorable
Kathy A. Surratt-States and are jointly administered under Bankr.
E.D. Mo. Case No. 16-41161.

The Debtors have engaged DLA Piper LLP (US) as counsel, Armstrong
Teasdale LLP as co-counsel, Alvarez & Marsal North America, LLC as
financial advisor, Lazard as investment banker and Prime Clerk LLC
as claims and noticing agent.



ABENGOA BIOENERGY: Seeks Joint Administration of Cases
------------------------------------------------------
Abengoa Bioenergy US Holding, LLC, et al., ask the Bankruptcy Court
to enter an order providing for the joint administration of their
separate bankruptcy cases for procedural purposes only, under the
Lead Case No. 16-41161.  According to the Debtors, the joint
administration of their Chapter 11 cases will:

   (a) permit the Clerk of the Court to use a single general
       docket for each of their Chapter 11 cases and to combine
       notices to creditors and other parties-in-interest of their
       respective estates;

   (b) save time and money and avoid duplicative and potentially
       confusing filings by permitting counsel for all   
       parties-in-interest to (a) use a single caption on the
       numerous documents that will be served and filed and (b)
       file the papers in one case rather than in each case;

   (c) protect parties-in-interest by ensuring that parties in
       each of their respective cases will be apprised of the
       various matters before the Court in these cases; and

   (d) ease the burden on the office of the United States Trustee
       for the Eastern District of Missouri in supervising these
       Chapter 11 cases.

The Debtors maintained that the rights of their respective
creditors and stakeholders will not be adversely affected by joint
administration of these cases inasmuch as the relief sought is
purely procedural and is in no way intended to affect substantive
rights.

                     About Abengoa Bionergy

Abengoa Bioenergy is a collection of indirect subsidiaries of
Abengoa S.A. ("Abengoa"), a Spanish company founded in 1941. The
global headquarters of Abengoa Bioenergy is in Chesterfield,
Missouri.  With a total investment of $3.3 billion, the United
States has become Abengoa S.A.'s largest market in terms of sales
volume, particularly from developing solar, bioethanol, and water
projects.

Spanish energy giant Abengoa S.A. is an engineering and clean
technology company with operations in more than 50 countries
worldwide that provides innovative solutions for a diverse range of
customers in the energy and environmental sectors.  Abengoa is one
of the world's top builders of power lines transporting energy
across Latin America and a top engineering and construction
business, making massive renewable-energy power plants worldwide.

On Nov. 25, 2015, in Spain, Abengoa S.A. announced its intention to
seek protection under Article 5bis of Spanish insolvency law, a
pre-insolvency statute that permits a company to enter into
negotiations with certain creditors for restricting of its
financial affairs.  The Spanish company is facing a March 28, 2016,
deadline to agree on a viability plan or restructuring plan with
its banks and bondholders, without which it could be forced to
declare bankruptcy.

Gavilon Grain, LLC, et al., on Feb. 1, 2016, filed an involuntary
Chapter 7 petition for Abengoa Bioenergy of Nebraska, LLC ("ABNE")
and on Feb. 11, 2016, filed an involuntary Chapter 7 petition for
Abengoa Bioenergy Company, LLC ("ABC").  ABC's involuntary Chapter
7 case is Bankr. D. Kan. Case No. 16-20178.  ABNE's involuntary
case is Bankr. D. Neb. Case No. 16-80141.  An order for relief has
not been entered, and no interim Chapter 7 trustee has been
appointed in the Involuntary Cases.  The petitioning creditors are
represented by McGrath, North, Mullin & Kratz, P.C.

On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and five
affiliated debtors each filed a Chapter 11 voluntary petition in
St. Louis, Missouri, disclosing total assets of $1.3 billion and
debt of $1.2 billion.  The cases are pending before the Honorable
Kathy A. Surratt-States and are jointly administered under Bankr.
E.D. Mo. Case No. 16-41161.

The Debtors have engaged DLA Piper LLP (US) as counsel, Armstrong
Teasdale LLP as co-counsel, Alvarez & Marsal North America, LLC as
financial advisor, Lazard as investment banker and Prime Clerk LLC
as claims and noticing agent.


ABENGOA BIOENERGY: Taps Prime Clerk as Claims & Noticing Agent
--------------------------------------------------------------
Abengoa Bioenergy US Holding, LLC, and its debtor affiliates seek
authority from the Bankruptcy Court to employ Prime Clerk LLC as
their claims, noticing and solicitation agent, effective nunc pro
tunc to the Petition Date, to expedite the distribution of notices
and the processing of claims, facilitate other administrative
aspects of these Chapter 11 cases, and relieve the Office of the
Clerk of the Bankruptcy Court of administrative burdens.

The Debtors anticipate that these Chapter 11 cases will require
thousands of entities to be noticed.  In view of that large number
and the complexity of their businesses, the Debtors assert that the
employment of a claims and noticing agent is in the best interests
of their estates and creditors.

Prime Clerk's Claims and Noticing Rates are:

         Title                           Hourly Rate
         -----                           -----------
         Analyst                           $25-$45
         Technology Consultant             $35-$85
         Consultant/Senior Consultant      $65-$170
         Director                          $175-$190
         Solicitation Consultant             $190
         Director of Solicitation            $200

The Debtors request that the undisputed fees and expenses incurred
by Prime Clerk in the performance of the services be treated as
administrative expenses of their Chapter 11 estates and be paid in
the ordinary course of business without further application to or
order of the Court.

Prior to the Petition Date, the Debtors provided Prime Clerk a
$25,000 retainer.  Prime Clerk seeks to apply its retainer to all
prepetition invoices, which retainer will be replenished to the
original retainer amount, and thereafter, Prime Clerk may hold its
retainer under the Engagement Agreement during these Chapter 11
cases as security for the payment of fees and expenses incurred
under the Engagement Agreement.

The Debtors have agreed to indemnify Prime Clerk under the terms of
the Engagement Agreement.

Prime Clerk represents it is a "disinterested person" as that term
is defined in Bankruptcy Code Section 101(14) for the matters on
which it is engaged.

                     About Abengoa Bionergy

Abengoa Bioenergy is a collection of indirect subsidiaries of
Abengoa S.A. ("Abengoa"), a Spanish company founded in 1941. The
global headquarters of Abengoa Bioenergy is in Chesterfield,
Missouri.  With a total investment of $3.3 billion, the United
States has become Abengoa S.A.'s largest market in terms of sales
volume, particularly from developing solar, bioethanol, and water
projects.

Spanish energy giant Abengoa S.A. is an engineering and clean
technology company with operations in more than 50 countries
worldwide that provides innovative solutions for a diverse range of
customers in the energy and environmental sectors.  Abengoa is one
of the world's top builders of power lines transporting energy
across Latin America and a top engineering and construction
business, making massive renewable-energy power plants worldwide.

On Nov. 25, 2015, in Spain, Abengoa S.A. announced its intention to
seek protection under Article 5bis of Spanish insolvency law, a
pre-insolvency statute that permits a company to enter into
negotiations with certain creditors for restricting of its
financial affairs.  The Spanish company is facing a March 28, 2016,
deadline to agree on a viability plan or restructuring plan with
its banks and bondholders, without which it could be forced to
declare bankruptcy.

Gavilon Grain, LLC, et al., on Feb. 1, 2016, filed an involuntary
Chapter 7 petition for Abengoa Bioenergy of Nebraska, LLC ("ABNE")
and on Feb. 11, 2016, filed an involuntary Chapter 7 petition for
Abengoa Bioenergy Company, LLC ("ABC").  ABC's involuntary Chapter
7 case is Bankr. D. Kan. Case No. 16-20178.  ABNE's involuntary
case is Bankr. D. Neb. Case No. 16-80141.  An order for relief has
not been entered, and no interim Chapter 7 trustee has been
appointed in the Involuntary Cases.  The petitioning creditors are
represented by McGrath, North, Mullin & Kratz, P.C.

On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and five
affiliated debtors each filed a Chapter 11 voluntary petition in
St. Louis, Missouri, disclosing total assets of $1.3 billion and
debt of $1.2 billion.  The cases are pending before the Honorable
Kathy A. Surratt-States and are jointly administered under Bankr.
E.D. Mo. Case No. 16-41161.

The Debtors have engaged DLA Piper LLP (US) as counsel, Armstrong
Teasdale LLP as co-counsel, Alvarez & Marsal North America, LLC as
financial advisor, Lazard as investment banker and Prime Clerk LLC
as claims and noticing agent.


ABENGOA BIOENERGY: Wants April 8 Deadline to File Schedules
-----------------------------------------------------------
Abengoa Bioenergy US Holding, LLC, and its affiliated debtors are
seeking an extension of deadline to file their schedules of assets
and liabilities and statements of financial affairs, by an
additional 30 days, through April 8, 2016.

The Debtors have provided a list of more than 2,000 creditors with
addresses to Prime Clerk LLC, their claims and noticing agent.
Given the volume of material that must be compiled and reviewed by
the Debtors' limited staff and professionals and the work required
to stabilize the Debtors' business operations and resume operations
at the plants in Ravenna and York, Nebraska, the Debtors believe
that they should be granted an extension to file their Schedules
and SOFAs.

The current deadline for the Debtors to file their Schedules and
SOFAs is March 9, 2016, which is 14 days from the Petition Date.

In addition, Bankruptcy Rule 2003(a) provides that in a Chapter 11
case the U.S. Trustee "shall call a meeting of creditors to be held
no fewer than 21 and no more than 40 days after the order for
relief." Fed. R. Bankr. P. 2003(a).  However, Local Rule 1007-6(A)
allows the U.S. Trustee to reschedule the Section 341 Meeting if
the Court extends the time for filing the Schedules and SOFA to a
date that is less than 10 days before the Section 341 Meeting.

To the extent the U.S. Trustee wishes schedule the Section 341
Meeting to a date after the Schedules and SOFA have been filed that
is more than 40 days after the Petition Date, the Debtors request
that the Court authorize the U.S. Trustee to do so.

                     About Abengoa Bionergy

Abengoa Bioenergy is a collection of indirect subsidiaries of
Abengoa S.A. ("Abengoa"), a Spanish company founded in 1941. The
global headquarters of Abengoa Bioenergy is in Chesterfield,
Missouri.  With a total investment of $3.3 billion, the United
States has become Abengoa S.A.'s largest market in terms of sales
volume, particularly from developing solar, bioethanol, and water
projects.

Spanish energy giant Abengoa S.A. is an engineering and clean
technology company with operations in more than 50 countries
worldwide that provides innovative solutions for a diverse range of
customers in the energy and environmental sectors.  Abengoa is one
of the world's top builders of power lines transporting energy
across Latin America and a top engineering and construction
business, making massive renewable-energy power plants worldwide.

On Nov. 25, 2015, in Spain, Abengoa S.A. announced its intention to
seek protection under Article 5bis of Spanish insolvency law, a
pre-insolvency statute that permits a company to enter into
negotiations with certain creditors for restricting of its
financial affairs.  The Spanish company is facing a March 28, 2016,
deadline to agree on a viability plan or restructuring plan with
its banks and bondholders, without which it could be forced to
declare bankruptcy.

Gavilon Grain, LLC, et al., on Feb. 1, 2016, filed an involuntary
Chapter 7 petition for Abengoa Bioenergy of Nebraska, LLC ("ABNE")
and on Feb. 11, 2016, filed an involuntary Chapter 7 petition for
Abengoa Bioenergy Company, LLC ("ABC").  ABC's involuntary Chapter
7 case is Bankr. D. Kan. Case No. 16-20178.  ABNE's involuntary
case is Bankr. D. Neb. Case No. 16-80141.  An order for relief has
not been entered, and no interim Chapter 7 trustee has been
appointed in the Involuntary Cases.  The petitioning creditors are
represented by McGrath, North, Mullin & Kratz, P.C.

On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and five
affiliated debtors each filed a Chapter 11 voluntary petition in
St. Louis, Missouri, disclosing total assets of $1.3 billion and
debt of $1.2 billion.  The cases are pending before the Honorable
Kathy A. Surratt-States and are jointly administered under Bankr.
E.D. Mo. Case No. 16-41161.

The Debtors have engaged DLA Piper LLP (US) as counsel, Armstrong
Teasdale LLP as co-counsel, Alvarez & Marsal North America, LLC as
financial advisor, Lazard as investment banker and Prime Clerk LLC
as claims and noticing agent.


AEOLUS PHARMACEUTICALS: FDA Lifts Clinical Hold for AEOL 10150
--------------------------------------------------------------
Aeolus Pharmaceuticals, Inc. disclosed in a Form 8-K filed with the
Securities and Exchange Commission it received notice from the U.S.
Food & Drug Administration that the clinical hold on the safety
study in healthy normal volunteers proposed in its Investigational
New Drug Application for AEOL 10150 in the pulmonary effects of
Acute Radiation Syndrome ("Lung-ARS") has been removed.  The
Company said it plans to initiate the proposed safety study as soon
as practicable.

                  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.


ALPHA MEDIA: S&P Affirms 'B' CCR, Outlook Remains Stable
--------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Portland, Ore.-based radio broadcaster Alpha Media
LLC.  The rating outlook remains stable.

At the same time, S&P assigned its 'B+' issue-level rating and '2'
recovery rating to the company's proposed $285 million senior
secured first-lien credit facility, which consists of a $265
million senior secured first-lien term loan and a $20 million
senior secured first-lien revolving credit facility.  The '2'
recovery rating indicates S&P's expectation for substantial
recovery (70%-90%; upper half of the range) of principal for
lenders in the event of default.

S&P does not rate Alpha Media's privately placed $65 million
second-lien loan and $55 million payment-in-kind (PIK) holding
company notes; however, S&P includes the debt in our debt leverage
estimate.

"The 'B' corporate credit rating reflects Alpha Media's relatively
smaller size and lack of meaningful diversification outside of
radio broadcasting, the secular pressures affecting radio
advertising, and the execution risk inherent in the aggressive
acquisition strategy the company has employed over the past few
years," said Standard & Poor's credit analyst Jawad Hussain.  "The
rating also reflects Alpha Media's highly leveraged financial risk
profile, which results from the increased debt in the capital
structure due to the company's acquisition of Digity LLC's radio
broadcasting assets," he added.

The stable rating outlook on Alpha Media reflects S&P's expectation
that the company will successfully integrate and operate all of its
recent acquisitions, which would allow it to improve margins,
maintain lease-adjusted leveraged below 6x on a sustained basis and
adequate liquidity, and to generate moderate discretionary cash
flow.

S&P could lower its corporate credit rating on Alpha Media if the
company's leverage rises above 6.5x on a sustained basis or its
discretionary cash flow declines below $15 million, which in S&P's
view would result in liquidity concerns.  This could occur as a
result of poor execution in integrating its newly acquired
stations, further debt-financed acquisitions, or operational
weakness due to audience rating declines or general economic
weakness.

Although unlikely over the next 12 months, S&P could raise the
rating if it becomes apparent that Alpha Media can maintain
adequate liquidity while reducing leverage to below 5x on a
sustained basis.  This would likely entail the company experiencing
positive organic revenue and EBITDA growth coupled with a
commitment to use its discretionary cash flow to pay down debt.


AMERICAN AIRLINES: Unions Seek Distribution Under Ch. 11 Plan
-------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that labor unions
representing American Airlines employees said on Feb. 23, 2016, in
New York bankruptcy court that their members will be entitled to an
additional payout under the company's Chapter 11 plan after a
federal appeals court blocked a $632 million claim being pursued by
its senior pilots.  The unions contend that they are entitled to an
additional distribution of American Airlines shares via "true-up"
provision of the restructuring plan intended to square their
claims, but a dispute with the company has emerged over how the
payout should be taxed. The dispute is part of litigation that’s
sprung up since the airlines’ former corporate parent, AMR Corp.,
got court approval for its restructuring plan in 2013.  The
distribution the unions are seeking would come from additional
shares of company stock held in a reserve to cover the cost of
disputed claims.

                   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.


ATNA RESOURCES: Has Court Authority Pay $100K to Key Employees
--------------------------------------------------------------
Atna Resources Inc. and its affiliated debtors sought and obtained
authority from Judge Joseph G. Rosania, Jr., of the United States
Bankruptcy Court for the District of Colorado to implement a key
employee retention plan that will pay $100,000 to eight key
employees.

The Debtors developed the KERP with the goal of providing
sufficient incentive for the Key Employees to stay employed by the
Debtors without paying an amount greater than is likely necessary
to achieve that result.  

The aggregate total amount of proposed payments under the KERP is
approximately $100,000, which, the Debtors asserted, is reasonable
in the context of their assets and liabilities.  The Debtors
further asserted that the KERP does not discriminate unfairly
because it is focused on only those employees who, in the Debtors'
judgment, are integral to maintaining operational stability and
driving cash flow.

Atna Resources Inc. and the affiliated debtors are represented by:

     Stephen D. Lerner, Esq.
     SQUIRE PATTON BOGGS (US) LLP
     221 E. Fourth Street, Suite 2900
     Cincinnati, OH 45202
     Telephone: (513) 361-1200
     Facsimile: (513) 361-1201
     Email: Stephen.lerner@squirepb.com

        -- and –

     Nava Hazan, Esq.
     SQUIRE PATTON BOGGS (US) LLP
     30 Rockefeller Plaza, 23rd Floor
     New York, NY 10112
     Telephone: (212) 872-9800
     Facsimile: (212) 872-9815
     Email: Nava.hazan@squirepb.com

        -- and -–

     Aaron A. Boschee, Esq.
     SQUIRE PATTON BOGGS (US) LLP
     1801 California Street, Suite 4900
     Denver, CO 80202
     Telephone: (303) 830-1776
     Facsimile: (303) 894-9239
     Email: Aaron.boschee@squirepb.com

        About Atna Resources

Headquartered in Lakewood, Colorado, Atna Resources Ltd. --
http://www.atna.com/-- is engaged in all phases of the mining
business, including exploration, preparation of pre-feasibility and
feasibility studies, permitting, construction and development,
operation and final closure of mining properties.  

The Company owns or controls various properties with gold
resources.  The Company's production property includes Briggs Mine
California and Pinson Mine Property, Nevada.  The Company's
development properties include Mag Pit at Pinson; Columbia Project,
Montana and Briggs Satellite Projects, California.  Its exploration
properties include Sand Creek Uranium Joint Arrangement, Wyoming;
Blue Bird Prospect, Montana and Canadian Properties, Yukon and
British Columbia.  Its Closure Property is Kendall, Montana.  The
Briggs mine is located on approximately 156 unpatented claims,
including approximately 15 mill site claims, covering over 2,890
acres.  The Company's Pinson Mine Property is located in Humboldt
County, Nevada, over 30 miles east of Winnemucca.

Atna Resources, Inc. and its direct and indirect subsidiaries filed
Chapter 11 bankruptcy petitions (Bankr. D. Colo. Proposed Lead Case
No. 15-22848) on Nov. 18, 2015.  The petitions were signed by
Rodney D. Gloss as vice president & chief financial officer.  

Atna also sought ancillary relief in Canada pursuant to the
Companies' Creditors Arrangement Act in the Supreme Court of
British Columbia in Vancouver, Canada.

In its Chapter 11 petition, Atna estimated assets in the range of
$10 million to $50 million and liabilities of $50 million to $100
million.  

Squire Patton Boggs (US) LLP serves as counsel to the Debtors.

On Dec. 14, 2015, the Office of the United States Trustee for the
District of Colorado appointed a statutory committee of unsecured
creditors in the Chapter 11 Cases.  The Committee tapped Onsager |
Guyerson | Fletcher | Johnson as attorneys.


AVAGO TECHNOLOGIES: Bank Debt Trades at 2% Off
----------------------------------------------
Participations in a syndicated loan under which Avago Technologies
is a borrower traded in the secondary market at 97.50
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.58 percentage points from the
previous week.  Avago Technologies pays 350 basis points above
LIBOR to borrow under the $9.750 billion facility. The bank loan
matures on Nov. 13, 2022 and carries Moody's Ba1 rating and
Standard & Poor's BBB rating.  The loan is one of the biggest
gainers and losers among 247 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Feb. 19.


BAHA MAR: Ch. 11 Case of Northshore Mainland Dismissed
------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware has dismissed the Chapter 11 case of Northshore
Mainland Services Inc.

The Court ordered that the Debtor (1) remit to the U.S. Trustee all
accrued and unpaid U.S. Trustee fees; and (2) satisfy all
outstanding professional fee claims in the amount agreed upon
between the debtor and each professional without the need for the
professionals to file any further applications with the Court.

As reported by the Troubled Company Reporter on Oct. 5, 2015, the
Court granted the separate motions filed by CCA Bahamas, Ltd., and
The Export-Import Bank of China to dismiss the Debtors' bankruptcy
cases, except only as to the chapter 11 case filed by Northshore
Mainland Services, Inc.

Following entry of the Dismissal Order, negotiations among the
former debtor entities, CEXIM, and CCA proved fruitless, despite
good faith proposals by the developer to provide financing
necessary to complete the "Baha Mar Project."  In the absence of an
automatic stay, CEXIM commenced exercising remedies under its
security documents against collateral in the Bahamas and, on
October 30, 2015, it appointed receiver-managers to take possession
of the Baha Mar property and assets.  The Baha Mar Project
currently remains unfinished and shuttered.

In light of the current status of the Baha Mar Project, including
CEXIM's appointment of a receiver, and in order to avoid any
further accrual of administrative expenses, the Debtor has
determined that dismissal of the Chapter 11 Case is in the best
interests of its estate and parties in interest.

The Debtor is represented by:

          Laura Davis Jones, Esq.
          James E. O'Neill, Esq.
          Colin R. Robinson, Esq.
          Peter J. Keane, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          919 North Market Street, 17th Floor
          Wilmington, DE 19801
          Telephone: (302) 652-4100
          Facsimile: (302) 652-4400
          Email: ljones@pszjlaw.com
                 joneill@pszjlaw.com
                 crobinson@pszjlaw.com
                 pkeane@pszjlaw.com

              -- and --

           Paul S. Aronzon, Esq.
           Mark Shinderman, Esq.
           MILBANK, TWEED, HADLEY & McCLOY LLP
           601 S. Figueroa Street, 30th Floor
           Los Angeles, CA 90017
           Telephone: (213) 892-4000
           Facsimile: (213) 629-5063
           Email: paronzon@milbank.com
                  mshinderman@milbank.com

              -- and --

           Tyson M. Lomazow, Esq.
           Thomas J. Matz, Esq.
           Steven Z. Szanzer, Esq.
           MILBANK, TWEED, HADLEY & McCLOY LLP
           28 Liberty Street
           New York, NY 10005
           Telephone: (212) 530-5000
           Facsimile: (212) 530-5219
           Email: tlomazow@milbank.com
                  tmatz@milbank.com
                  sszanzer@milbank.com

                          About Baha Mar

Orlando, Florida-based Northshore Mainland Services Inc., Baha Mar
Enterprises Ltd., and their affiliates sought protection under
Chapter 11 of the Bankruptcy Code on June 29, 2015 (Bankr. D.Del.,
Case No. 15-11402).  Baha Mar owns, and is in the final stages of
developing, a 3.3 million square foot resort complex located in
Cable Beach, Nassau, The Bahamas.

The bankruptcy cases are assigned to Judge Kevin J. Carey.  The
Debtors are represented by Paul S. Aronzon, Esq., and Mark
Shinderman, Esq., at Milbank, Tweed, Hadley & McCloy LLP, in Los
Angeles, California; and Gerard Uzzi, Esq., Thomas J. Matz,
Esq.,and Steven Z. Szanzer, Esq., at Milbank, Tweed, Hadley &
McCloy LLP, in New York.  The Debtors' Delaware counsel are Laura
Davis Jones, Esq., James E. O'Neill, Esq., Colin R. Robinson, Esq.,
and Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware.  The Debtors' Bahamian counsel is Glinton
Sweeting O'Brien.  The Debtors' special litigation counsel is Kobre
& Kim LLP.  The Debtors' construction counsel is Glaser Weil Fink
Howard Avchen & Shapiro LLP.

The Debtors' investment banker and financial advisor is Moelis
Company LLC.  The Debtors' claims and noticing agent is Prime
Clerk LLC.


BATTLE CREEK: Hearing on Case Dismissal Continued to March 28
-------------------------------------------------------------
The Hon. Maureen Tighe of the U.S. Bankruptcy Court for the Central
District of California continued until March 28, 2016, at 9:30
a.m., the hearing to consider the motion to dismiss the Chapter 11
case of Battle Creek Conservation Ventures, LLC.

As reported by the Troubled Company Reporter, creditor Charles A.
Orwick, III, trustee of the Charles A. Orwick, III, Trust of 2001,
motion asserted that there is ample cause under Section 1112(b) of
the Bankruptcy Code to dismiss the Single Asset Real Estate case,
noting that there has been no plan of reorganization proposed, the
Debtor has failed to seek approval to employ an appraiser or obtain
an appraisal of the Real Property, and there is no chance or
reorganization of the Debtor.

In the alternative, the trustee asked the Court convert the
Debtor's Chapter 11 case to a case under Chapter 7, whichever is in
the best interests of creditors and the estate, for cause.

The Debtor, in response, argued that there is no good cause for
dismissal or conversion of its Chapter 11 case, maintaining that
the estate has been properly managed and there is a strong
likelihood that the case will result in a feasible confirmed plan
for the benefit of all creditors and interested parties.

James R. Felton, the state court-appointed receiver for the Debtor,
stated, in support of the Debtor's objection, that "I do know that
there is enough evidence to suggest that an accounting needs to be
done so that the Receivership estate can determine who invested
what."

                About Battle Creek Conservation

Battle Creek Conservation Ventures, LLC, commenced a Chapter 11
bankruptcy case (Bankr. C.D. Cal. Case No. 15-11683) on May 13,
2015.  Judge Maureen Tighe presides over the case.  The Debtor
estimated assets of $11 million and total liabilities of $9.3
million.


BIOSTAR PHARMACEUTICALS: Regains NASDAQ Listing Compliance
----------------------------------------------------------
Biostar Pharmaceuticals, Inc. (BSPM) ("Biostar"), a PRC-based
developer, manufacturer and marketer of pharmaceutical and health
supplement products in China, on Feb. 24 disclosed that on February
22, 2016, NASDAQ notified the Company that it had regained
compliance with continued listing Rule 5550(a)(2), which requires a
minimum bid price of $1.00 for continued listing on the NASDAQ
Stock Market and that the matter was now closed.     

Ronghua Wang, Biostar's Chairman and CEO, commenting on the
announcement, stated that "Regaining compliance with NASDAQ's
minimum bid price rule is a significant achievement for the
Company.  With this issue behind us, the Company's management will
continue to pursue its objective of maximizing shareholder value
and strengthening the Company's core business."

               About Biostar Pharmaceuticals, Inc.

Through its wholly owned subsidiary and controlled affiliate in
China, Biostar Pharmaceuticals, Inc.
--http://www.biostarpharmaceuticals.com-- develops, manufactures
and markets pharmaceutical and health supplement products for a
variety of diseases and conditions.


BOMBARDIER RECREATIONAL: Bank Debt Trades at 3% Off
---------------------------------------------------
Participations in a syndicated loan under which Bombardier
Recreational Products is a borrower traded in the secondary market
at 96.79 cents-on-the-dollar during the week ended Friday, Feb. 19,
2016, according to data compiled by LSTA/Thomson Reuters MTM
Pricing.  This represents a decrease of 0.93 percentage points from
the previous week.  Bombardier Recreational pays 275 basis points
above LIBOR to borrow under the $0.792 billion facility. The bank
loan matures on Jan. 30, 2019 and carries Moody's Ba3 rating and
Standard & Poor's BB- rating.  The loan is one of the biggest
gainers and losers among 247 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Feb. 19.


CAESARS ENTERTAINMENT: Bank Debt Trades at 14% Off
--------------------------------------------------
Participations in a syndicated loan under which Caesars
Entertainment Inc is a borrower traded in the secondary market at
86.10 cents-on-the-dollar during the week ended Friday, Feb. 19,
2016, according to data compiled by LSTA/Thomson Reuters MTM
Pricing.  This represents a decrease of 0.90 percentage points from
the previous week.  Caesars Entertainment pays 600 basis points
above LIBOR to borrow under the $2.5 billion facility. The bank
loan matures on Sept. 24, 2020 and carries Moody's B2 rating and
Standard & Poor's CCC+ rating.  The loan is one of the biggest
gainers and losers among 247 widely quoted syndicated loans with
five or more bids in secondary trading for the week ended Feb. 19.


CAESARS ENTERTAINMENT: Reports Q4 and Full-Year 2015 Results
------------------------------------------------------------
Caesars Entertainment Corporation reported a net loss attributable
to the Company of $76 million on $1.11 billion of net revenues for
the three months ended Dec. 31, 2015, compared to a net loss
attributable to the Company of $1.02 billion on $2.13 billion of
net revenues for the three months ended Dec. 31, 2014.

For the year ended Dec. 31, 2015, the Company reported net income
attributable to the Company of $5.92 billion on $4.65 billion of
net revenues compared to a net loss attributable to the Company of
$2.78 billion on $8.51 billion of net revenues for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, Caesars had $12.19 billion in total assets,
$9.96 billion in total liabilities and $2.23 billion in total
stockholders' equity.

"Caesars achieved solid operating momentum throughout 2015.
Including CEOC's results, the enterprise experienced its best
full-year of operating results since 2007," said Mark Frissora,
president and CEO of Caesars Entertainment.  "These results largely
reflect higher hotel revenues, with cash ADR up double-digits, and
increased marketing and operational efficiencies, which delivered
approximately $350 million in incremental EBITDA enterprise-wide
year-over-year."

"The ability to generate this level of sustained growth is a
testament to the success of our low-cost, high-quality operating
model.  We remain focused on executing a balanced agenda of
enhancing revenue growth while driving productivity gains to
improve margins and cash flow, while increasing long-term value for
our stakeholders," Frissora concluded.

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

                      http://is.gd/1zfOnc

                   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.


CAPITOL LAKES: Proposes April 1 Deadline for Filing Claims
----------------------------------------------------------
Capitol Lakes Inc. has filed a motion seeking court approval to
establish April 1, 2016, as the deadline for creditors holding
pre-bankruptcy claims to file a proof of their claims.

This deadline is called a "bar date" because it means that
creditors who come forward after that date may be "barred" from
ever filing a claim against the company.   

In the same filing, Capitol Lakes also proposed a July 18 deadline
for governmental units to file their pre-bankruptcy claims.

                       About Capitol Lakes

On January 20, 2016, Capitol Lakes Inc. filed a Chapter 11
bankruptcy petition in the United States Bankruptcy Court for the
Western District of Wisconsin.  The case (Case No. 16-10158) is
assigned to Judge Robert D. Martin.

The Debtor has tapped DLA Piper LLP as its legal counsel, and Cain
Brothers & Company LLC as its financial advisor.

The Debtor estimated assets of $50 million to $100 million and
debts of $100 million to $500 million.  

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  They are Margaret
Barker, John Burkhalter, Geri Dickson, Sally Drew, Patrick J.
Holzem, Judith Snyderman and M. Crawford Young.  Murphy Desmond
S.C. represents the committee.


CARDIAC SCIENCE: Dietzen, Gutermuth No Longer Members of Committee
------------------------------------------------------------------
The Office of the U.S. Trustee on Feb. 24 announced that Douglas
Dietzen and Tony Gutermuth are no longer members of the official
committee of unsecured creditors of CS Estate Inc., formerly known
as Cardiac Science Corporation.

The committee is now composed of:

     (1) Electronic Concepts, Inc.
         Donald E. Welker
         526 Industrial Way West
         Eatontown, NJ 07724
          (732)542-7880
         dwelker@ecicaps.com

     (2) Cascadia Intellectual Property
         Patrick J. S. Inouye
         12360 Lake City Way NE, Ste. 501
         Seattle, WA 98125
         206.381.3900
         206.381.3999, fax
         info@cascadiaip.com
         patrick@cascadiaip.com

     (3) Modern Metal Products
         David C. Pfieffer
         1200 12th Ave. NW
         P.O. Box 247
         Owatonna, MN 55060
          (507)451-7115
          (507)451-0882, fax
         davep@mmpmodernmetal.com

     (4) Shell Case Limited
         Yuval Spector
         4B, 12 Shipyard Lane
         Quarry Bay, Hong Kong
         972-54-4452200
         972-72-2740072, fax
         yuval@shell-case.com

     (5) Wild Connect
         Andrea Ott
         Merveldstrasse 6
         Heitersheim 79423
         Germany
         49-7634-5265-12
         49-7664-4056-018
         49-7634-5265-66, fax
         a.ott@wild-connect.de

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense.  They may investigate the debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                        About 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 efibrillators, 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 prepetition 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.


CITY OF CENTERTON: Moody's Cuts Rating on 2014 Rev. Bonds to Ba2
----------------------------------------------------------------
Moody's Investors Service has downgraded to Ba2 from Baa3 the
rating on the City of Centerton Waterworks and Sewer Commission's,
AR Water and Sewer System revenue bonds, affecting $10 million in
Series 2014 Revenue Bonds. The outlook is stable.

The downgrade to Ba2 reflects the highly leveraged system's rapid
deterioration of debt service coverage to below 1 times in fiscal
2014 and expected coverage below sum sufficient again in fiscal
2015. The downgrade also reflects a narrowing cash position, which
we expect to worsen. Additionally, the rating takes into account
the district's stable customer base that has experienced steady
growth and recently adopted rate increases.

Rating Outlook

The stable outlook reflects the adopted rate increases for fiscal
2016 and our expectation that debt service coverage will be
restored to covenanted levels. The outlook also reflects the
expectation that the system's expanded customer base will remain
stable.

Factors that Could Lead to an Upgrade

  Trend of improved financial performance leading to strengthened
debt service coverage

  Bolstered liquidity

  Decline of the system's debt profile

Factors that Could Lead to a Downgrade

  Continued decline of debt service coverage

  Continued erosion of the district's liquidity

Legal Security

The Bonds are special obligations payable solely from and secured
by a pledge of the revenues derived from operation of the System.

Use of Proceeds

N/A

Obligor Profile

The system serves an area of 72 square miles. The City of Centerton
is in Benton County, Arkansas, and is organized and existing under
the laws of the State of Arkansas. The City is located in the
northwest part of the State and is approximately 210 miles
northwest of Little Rock, Arkansas. It is four miles west of
Bentonville, Arkansas and five miles north of the Northwest
Arkansas Regional Airport.


CLEVELAND BIOLABS: Incurs $13 Million Net Loss in 2015
------------------------------------------------------
Cleveland Biolabs, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$13.04 million on $2.70 million of grants and contracts revenues
for the year ended Dec. 31, 2015, compared to net income of $35,366
on $3.70 million of grants and contracts revenues for the year
ended Dec. 31, 2014.

As of Dec. 31, 2015, Cleveland Biolabs had $20.88 million in total
assets, $5.84 million in total liabilities and $15.03 million in
total stockholders' equity.

"We have incurred significant losses to date.  We reported net
losses of approximately $(13.0) million, and $0.0 million million
for the years ended December 31, 2015, and 2014, respectively.
However, were it not for a one-time, non-cash gain of $14.2 million
associated with the deconsolidation of Incuron, we would have
incurred a net loss of approximately $(14.2) million for the year
ended December 31, 2014.  We expect significant losses to continue
for the next few years as we spend substantial sums on the
continued R&D of our proprietary product candidates, and there is
no certainty that we will ever become profitable as a result of
these expenditures.  As a result of losses that will continue
throughout our development stage, we may exhaust our financial
resources and be unable to complete the development of our product
candidates," the Company stated in the report.

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

                      http://is.gd/nlWe9e

                    About Cleveland BioLabs

Cleveland BioLabs, Inc. (NASDAQ: CBLI) is a biopharmaceutical
company developing novel approaches to activate the immune system
and address serious unmet medical needs.  The Buffalo, New
York-based company's proprietary platform of toll-like immune
receptor activators has applications in radiation mitigation,
oncology immunotherapy and vaccines.


CRAIG ENERGY: Files for Ch. 11 as Revenues Sink
-----------------------------------------------
Alicia Wallace at The Denver Post reported that Craig Energy, a
Denver-based oilfield services firm, is the latest energy firm to
succumb to bankruptcy.

According to the report, Craig Energy listed assets of $26.2
million, primarily in equipment such as drill rigs, pumps and
vehicles.  The Debtors' debt amounted in excess of $45 million --
more than $38 million of which is secured.  Craig Energy's
operations span formations as Bakken in North Dakota and Montana,
Niobrara in Wyoming and Colorado, and Bone Spring in Texas.

Court filings show that annual revenue sunk by more than
50% to $46.2 million in 2015 from the year before.

The two largest holders of secured debt are Capital One Business
Credit Corp. and Medley Capital Corp. with liabilities of
$17.8 million and $14.6 million, respectively.  Under those loans,
all of Craig Energy's assets are subject to liens, according to
court documents.

CF Equipment Loans LLC and GE Capital Commercial are suing to
repossess equipment leased to Craig Energy, the company disclosed.

                        About Craig Energy

Craig Energy, LLC and Craig Energy Holdings, LLC filed for Chapter
11 protections (Bankr. D. Colo. Case Nos. 16-11308 and 16-11318) on
Feb. 19, 2016.  The Hon. Howard R Tallman presides over the cases.


Craig Energy disclosed total assets of $26.2 million and total
liabilities of $45.4 million.  Holdings, LLC disclosed total assets
of $0 and total liabilities of $35.2 million.

Harrie F. Lewis, Esq., and John C. Smiley, Esq., at Lindquist &
Vennum LLP - Denver, represent the Debtors in their restructuring
effort.


CRAIG WALKER: U.S. Trustee Forms Three-Member Committee
-------------------------------------------------------
The Office of the U.S. Trustee on Feb. 24 appointed three creditors
of Craig J. Walker and Susan Ann Walker to serve on the official
committee of unsecured creditors.

The unsecured creditors are:

     (1) Guaranty Bank and Trust Company
         Attn: Brad Schwindt
         2700 47th Avenue
         Greeley, CO 80634
         Phone: 970-454-4179
         Brad.schwindt@guarantybankco.com

     (2) The Mission Bank
         Attn: David E. Shepherd, Sr. V.P.
         5201 Johnson Dr.
         Mission, KS 66205-2925
         Phone: 913-831-2400
         Fax: 913-831-1230
         dshepherd@themissionbank

     (3) Hallmark Marketing Company, LLC
         Attn: Phyllis Leach
         2501 McGee MD 339
         Kansas City, MO 64108
         Phone: 816-545-6253
         Fax: 816-274-7171
         Phyllis.Leach@Hallmark.com

                        About The Walkers

On July 24, 2015, Craig J. Walker and Susan Ann Walker filed a
voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code in the U.S. Bankruptcy Court for the District of
Colorado (Denver).

The Debtors' case (Case No. 15-18281) is assigned to Judge
Elizabeth E. Brown.

Christopher J. Conant, Esq., serves as legal counsel for the
Debtors.


DAVID'S BRIDAL: Bank Debt Trades at 19% Off
-------------------------------------------
Participations in a syndicated loan under which David's Bridal Inc
is a borrower traded in the secondary market at 81.10
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.40 percentage points from the
previous week.  David's Bridal pays 375 basis points above LIBOR to
borrow under the $0.520 billion facility. The bank loan matures on
Oct. 11, 2019 and carries Moody's B3 rating and Standard & Poor's
B- rating.  The loan is one of the biggest gainers and losers among
247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


DEERFIELD RANCH WINERY: Can Use Cash Collateral Until Feb. 29
-------------------------------------------------------------
Deerfield Ranch Winery, LLC, its secured creditor Rabobank, N.A.,
and the Official Committee of Unsecured Creditors on Feb. 1, 2016,
signed a seventh stipulation authorizing the Debtor's continued use
of cash collateral until Feb. 29, 2016.  

For the use of cash for Feb. 1, 2016, Rabobank will receive a one
month adequate protection payment of $30,933 as well as a
replacement lien.  Rabobank is the secured creditor owed on a term
loan with a current principal balance of $7.66 million and a line
of credit with a principal balance of $3 million.  

A copy of the stipulation is available for free at:

    http://bankrupt.com/misc/Deerfield_R_212_7th_Cash_Stip.pdf

                   About Deerfield Ranch Winery

Sonoma Valley-based Deerfield Ranch Winery, LLC, was founded in
1982 by Robert and PJ Rex.

Deerfield Ranch Winery filed a Chapter 11 bankruptcy petition
(Bank. N.D. Cal. Case No. 15-10150) on Feb. 13, 2015.  The Debtor
disclosed $25,197,611 in assets and $12,041,939 in liabilities as
of the Chapter 11 filing.

Scott H. McNutt, Esq., and Shane J. Moses, Esq., at McNutt Law
Group LLP serve as the Debtor's counsel.  Jigsaw Advisors LLC acts

as the Debtor's restructuring financial advisor.  Judge Alan
Jaroslovsky is assigned to the case.  Dana Burwell, as appraiser,
will assist in valuing its real property known as 10176 Sonoma
Highway, Kenwood, California.  Rabobank N.A, is the Debtor's
primary secured lender.

The U.S. Trustee for Region 17 appointed three creditors to serve
on the official committee of unsecured creditors.  Pachulski Stang

Ziehl & Jones LLP serves as Committee counsel.


DEERFIELD RANCH WINERY: Makes Immaterial Modifications to Plan
--------------------------------------------------------------
The Deerfield Ranch Winery, LLC, which has completed solicitation
of votes for its Plan of Reorganization dated Nov. 10, 2015, seeks
Bankruptcy Court approval of a non-material modification to certain
terms of the Plan.

On Feb. 22, 2016, the Debtor filed an Amended Plan, which contains
non-material modifications agreed upon by Rabobank, the Creditors
Committee and the Debtor.

According to the Debtor, the modification is intended to address
certain concerns regarding the remedy provided to Rabobank in the
event of a default by the Debtor under either the Plan or the
restructured loan documents that are being entered into in
connection with the Plan.  As originally drafted, the Plan provides
Rabobank the right to seek appointment of a liquidating trustee on
the event of a material default.  This remedy was based on the
mediated settlement between the Debtor, the Creditors Committee,
and Rabobank regarding terms of the Plan.

The appointment of a liquidating trustee under the Plan would have
occurred only on a default, a situation that hopefully will never
materialize.  The parties have determined that there are
significant practical difficulties with implementing a liquidating
trust in a situation where the liquidating trust would be created
only in the event of a contingent future event.  Unfortunately,
this did not become apparent until the parties were working to
finalize the loan documents.  In order to address this, the parties
have agreed to certain modifications, such that the default remedy
would be appointment of a plan administrator, rather than a
liquidating trustee.

The Debtor believes that this modification could not be considered
material to the Debtor's creditors or equity holders for two
reasons.  First, it modifies only Rabobank's default remedy.
Second, only the mechanism of the default remedy is changed; the
substance of the remedy and its effect on creditors and equity
holders remains the same.

The primary changes to the Amended Plan are as follows:

   * Section 3.2.2.4 of the Amended Plan, has been revised to
provide for appointment of a Plan Administrator in the event of
default, instead of appointment of a liquidating trustee.  The
conditions for appointment, and the duties following
appointment remain substantively the same.

   * Where the Plan originally contemplated a liquidating trust
agreement, which would define the powers and responsibilities of
the liquidating trustee, the Amended Plan now provides for the Plan
Administrator Provisions, which govern the powers and
responsibilities of the Plan Administrator if one is appointed.

   * Certain changes have been made to the definitions, in order to
remove the definitions associated with a liquidating trustee, and
add definitions for the Plan Administrator.

   * The Plan provided for certain things to happen no later than
Jan. 31, 2016.  This related to payment of certain secured claims,
and the filing by the Debtor of a list of allowed unsecured claims.
These dates were necessarily changed to 30 days from the Effective
Date of the Amended Plan.

                   About Deerfield Ranch Winery

Sonoma Valley-based Deerfield Ranch Winery, LLC, was founded in
1982 by Robert and PJ Rex.

Deerfield Ranch Winery filed a Chapter 11 bankruptcy petition
(Bank. N.D. Cal. Case No. 15-10150) on Feb. 13, 2015.  The Debtor
disclosed $25,197,611 in assets and $12,041,939 in liabilities as
of the Chapter 11 filing.

Scott H. McNutt, Esq., and Shane J. Moses, Esq., at McNutt Law
Group LLP serve as the Debtor's counsel.  Jigsaw Advisors LLC acts

as the Debtor's restructuring financial advisor.  Judge Alan
Jaroslovsky is assigned to the case.  Dana Burwell, as appraiser,
will assist in valuing its real property known as 10176 Sonoma
Highway, Kenwood, California.  Rabobank N.A, is the Debtor's
primary secured lender.

The U.S. Trustee for Region 17 appointed three creditors to serve
on the official committee of unsecured creditors.  Pachulski Stang

Ziehl & Jones LLP serves as Committee counsel.


DEERFIELD RANCH: To Seek Confirmation of Amended Plan Today
-----------------------------------------------------------
Deerfield Ranch Winery, LLC, is slated on Feb. 26, 2016, at 10:00
a.m. to seek confirmation of its Amended Plan of Reorganization.

The Plan provides for payment in full of all creditors, with
interest.  The Plan is the result of an extensive negotiation
process with Rabobank, N.A., Deerfield's primary secured lender,
and ultimately of a successful mediation before Judge Thomas E.
Carlson of the Northern District of California Bankruptcy Court.
With Judge Carlson's help, Deerfield, Rabobank, and the Creditors
Committee were able to reach agreement on the material terms of a
consensual plan, which is reflected in the Plan on file before the
Court.

Following a successful mediation with the Creditors Committee and
Rabobank regarding plan terms for treatment of Rabobank's secured
claim, the Debtor filed its proposed plan of reorganization and
disclosure statement, which were subsequently modified at the
request of the US Trustee and Rabobank in connection with the
disclosure statement hearing.  

On Nov. 10, 2015, the Debtor filed both the Plan and the Disclosure
Statement.  The Bankruptcy Court approved the Disclosure Statement
by order dated Nov. 12, 2015.

The Plan received unanimous approval from all classes of creditors
and equity holders who were entitled to vote.  There were no
objections.

A Plan confirmation hearing was held Dec. 18, 2015.  At that
hearing, the Court found that the Plan could be confirmed,
conditioned on first finalizing the Restructured Loan Documents and
then obtaining the approval of a confirmation order by Rabobank and
the Creditors Committee.  At the time, the parties hoped that this
could be completed within a couple of weeks.  Unfortunately, it
took longer than all parties anticipated to negotiate the
resolution of certain terms of the Restructured Loan Documents,
although this was ultimately accomplished.

On Feb. 22, 2016, the Debtor filed an Amended Plan, which contains
non-material modifications agreed upon by Rabobank, the Creditors
Committee and the Debtor.  A copy of the Plan, as amended Feb. 22,
2016, is available for free at:

     http://bankrupt.com/misc/Deerfield_Ranch_208_Am_Plan.pdf

Attorneys for the Debtor:

         McNutt Law Group LLP
         Scott H. McNutt, Esq.
         Shane J. Moses, Esq.
         Thomas B. Rupp, Esq.
         219 9th Street
         San Francisco, CA 94103
         Telephone: (415) 995-8475
         Facsimile: (415) 995-8487

Attorneys for secured creditor RABOBANK, N.A.:

         JEFFER MANGELS BUTLER & MITCHELL LLP
         Richard A. Rogan, Esq.
         Nicolas De Lancie, Esq.
         Two Embarcadero Center, Fifth Floor
         San Francisco, CA 94111-3813
         Telephone: (415) 398-8080
         Facsimile: (415) 398-5584
         E-mail: rar@jmbm.com
                 nde@jmbm.com

                   About Deerfield Ranch Winery

Sonoma Valley-based Deerfield Ranch Winery, LLC, was founded in
1982 by Robert and PJ Rex.

Deerfield Ranch Winery filed a Chapter 11 bankruptcy petition
(Bank. N.D. Cal. Case No. 15-10150) on Feb. 13, 2015.  The Debtor
disclosed $25,197,611 in assets and $12,041,939 in liabilities as
of the Chapter 11 filing.

Scott H. McNutt, Esq., and Shane J. Moses, Esq., at McNutt Law
Group LLP serve as the Debtor's counsel.  Jigsaw Advisors LLC acts

as the Debtor's restructuring financial advisor.  Judge Alan
Jaroslovsky is assigned to the case.  Dana Burwell, as appraiser,
will assist in valuing its real property known as 10176 Sonoma
Highway, Kenwood, California.  Rabobank N.A, is the Debtor's
primary secured lender.

The U.S. Trustee for Region 17 appointed three creditors to serve
on the official committee of unsecured creditors.  Pachulski Stang

Ziehl & Jones LLP serves as Committee counsel.


DEX MEDIA: Bank Debt Trades at 57% Off
--------------------------------------
Participations in a syndicated loan under which Dex Media East LLC
is a borrower traded in the secondary market at 43.10
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.80 percentage points from the
previous week.  Dex Media East LLC pays 250 basis points above
LIBOR to borrow under the $0.950 billion facility. The bank loan
matures on Oct. 24, 2016 and carries Moody's N.R. rating and
Standard & Poor's did not give any rating.  The loan is one of the
biggest gainers and losers among 247 widely quoted syndicated loans
with five or more bids in secondary trading for the week ended Feb.
19.


DON RICHARD ILEY: U.S. Trustee Forms Seven-Member Committee
-----------------------------------------------------------
The Office of the U.S. Trustee on Feb. 24 appointed seven creditors
of Don Richard Iley and Iley & Associates to serve on the official
committee of unsecured creditors.

The unsecured creditors are:

     (1) Muse Inc.
         d/b/a Voodoo Hair Lounge
         2100 Pearl Street
         Boulder, CO 80302

     (2) Bridges Community Homecare
         c/o Mario Nicolais, Esq.
         12136 W. Bayaud Avenue #200
         Lakewood, CO 80226
         Mnicolais@vivage.com

     (3) Seniors Rock, Inc.
         Attn: Richard W. Cseak, Jr.
         4251 S. Natches Court, Unit B
         Englewood, CO 80110
         Rick@homehelpershomecare.com

     (4) Iron Mike Construction, LLC
         Attn: Michael R. Yaggi
         6950 S. Tucson Way, Suite A
         Centennial, CO 80112
         Myaggi@ironmikeconstruction.com

     (5) Western Storage & Handling, Inc.
         Attn: Harry Neumann, Jr.
         1630 W. Evans Avenue, Unit L
         Denver, CO 80110
         Hneumann@westernstorageandhandling.com

     (6) Landcare Management, Inc.
         Attn: Eric Haugen
         4852 S. Hoyt Street
         Littleton, CO 80123
         Eric@landcaremanagement.com

     (7) In-Site Telecom, Inc.
         Attn: Steven Adelman
         2734 S. Braun Way
         Lakewood, CO 80228

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense.  They may investigate the debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                     About Don Richard Iley

On December 28 2015, Auto Magic of Colorado, Inc., and several
other creditors filed involuntary Chapter 7 petition for Don
Richard Iley.  On January 26, 2016, the Chapter 7 proceeding was
converted to a Chapter 11 case.  

The Debtor's case (Case No. 15-23985) is assigned to Judge
Elizabeth E. Brown of the U.S. Bankruptcy Court for the District of
Colorado (Denver).  

The Debtor has tapped Nicole M. Detweiler of Allen & Vellone as
legal counsel.


EAST COAST BROKERS: Trustee Seeks Release of $115K from NBC
-----------------------------------------------------------
Gerard A. McHale, Jr., the duly appointed and acting Chapter 11
Trustee for the estate of East Coast Brokers & Packers, Inc., asks
the Bankruptcy Court to direct NBC Securities to release to the
Trustee proceeds from the sale of 8,400 shares of CenterState
Banks, Inc.

On October 13, 2015, the Trustee filed his Notice of Proposed Sale
of 8,400 Shares of CenterState Banks, Inc., under negative notice.
No objections to the Sale Notice were filed and the Court entered
its Order approving the Trustee'sa Sale of the Shares.  The Sale
Order authorized the Trustee to sell the Stock through the transfer
agent, NBC Securities.

NBC Securities has informed the Chapter 11 Trustee that it has sold
the Stock for $115,000.

Chapter 11 Trustee is represented by:

     Jordi Guso, Esq.
     BERGER SINGERMAN LLP
     1450 Brickell Avenue, Suite 1900
     Miami, FL 33131
     Telephone: (305) 755-9500
     Facsimile: (305) 714-4340
     Email: jguso@bergersingerman.com

        About East Coast Brokers

East Coast Brokers & Packers, Inc., along with related entities,
sought Chapter 11 protection (Bankr. M.D. Fla. Lead Case No.
13-02894) in Tampa, Florida, on March 6, 2013.  East Coast Brokers
& Packers disclosed $12,663,307 in assets and $75,181,975 in
liabilities as of the Chapter 11 filing.

The debtor-affiliates are Batista J. Madonia, Sr. and Evelyn M.
Madonia (Case No. 13-02895); Circle M Ranch, Inc., Case No.
13-02896); Ruskin Vegetable Corporation, Case No. 13-02897);
Oakwood Place, Inc. (Case No. 13-2898); Byrd Foods of Virginia,
Inc. (Case No. 13-03069); Eastern Shore Properties, Inc. (Case No.
13-03070); and Stellaro Bay, Inc. (Case No. 13-3071).

Scott A. Stichter, Esq., and Susan H. Sharp, Esq., at Stichter,
Riedel, Blain & Prosser, P.A., in Tampa, serve as counsel to the
Debtors.  Steven M. Berman, Esq., and Hugo S. deBeaubien, Esq., at
Shumaker, Loop, & Kendrick, LLP, in Tampa, are the Debtors' special
counsel.

In June 2013, the bankruptcy court approved the appointment of
Gerard A. McHale, Jr., to serve as Chapter 11 trustee.  MLIC Asset
Holdings LLC and MLIC CB Holdings LLC asked the Bankruptcy Court to
appoint a Chapter 11 trustee, or, in the alternative, dismiss the
Debtors' Chapter 11 cases.  According to the MLIC entities, the
Debtors, among other things had mishandled the potential rents from
employees, failed to pay taxes, failed to maintain insurance, has
inadequate security regarding the Debtors' personal and real
property, and delayed the filing of schedules and reports required
under the Bankruptcy Code.


EASTERN ILLINOIS: Moody's Cuts AFS Revenue Bonds to 'Ba1'
---------------------------------------------------------
Moody's Investors Service downgrades Eastern Illinois University's
(EIU's) Auxiliary Facilities System (AFS) Revenue Bonds to Ba1 from
Baa3 and the Certificates of Participation (COPs) to Ba3 from Baa3.
The outlook is negative.

The downgrade is driven by EIU's increasing vulnerability to the
ongoing state budget impasse given its thin liquidity, declining
enrollment, and high reliance on state funding. Liquid reserves are
expected to be exhausted by the end of the fiscal year. The ratings
incorporate the expectation that EIU will take the necessary
actions to cut expenses and manage cash flow to meet all
obligations.

The Ba1 rating for the AFS Revenue Bonds is based on strong
reserves within the AFS which roughly equal AFS debt outstanding
and are legally restricted to support only AFS expenses and debt
obligations. The AFS has historically been profitable, but also
benefits from a priority claim on net tuition revenue should net
AFS revenues be insufficient to cover debt service.

The Ba3 rating on the COPs reflects the increased risk of the COPs
security pledge given the absence of a state budget, no receipt of
any FY 2016 state appropriations, near exhaustion of unrestricted
reserves, no access to external liquidity facilities, minimal funds
at its foundation, and scant revenue anticipated until the next
wave of tuition revenue in July/August. The next payment on the
Series 2009 COPs of $3.7 million (net of the BABs subsidy) is on
April 1, 2016 and the next payment on the Series 2005 COPs of
approximately $146,000 is due August 15, 2016.

Rating Outlook

The negative outlook reflects the expectation that the university's
liquidity position will remain severely pressured.

Factors that Could Lead to an Upgrade

Significant and sustained improvement in liquidity with consistent
receipt of state operating appropriations

Strengthened student demand evidenced in net tuition revenue growth
and stronger cash flow

Factors that Could Lead to a Downgrade

Insufficient cash flow to fund current operations or make debt
service payments

Material decline in state appropriations, including on-behalf
payments

Further credit deterioration of the state

Failure to replenish and build reserves following resolution of the
budget impasse

Inability to stabilize enrollment or adjust expenses to balance
operations

Legal Security

The revenue bonds are secured by the net revenues of the Auxiliary
Facilities System (AFS), as well as mandatory student fees and
tuition revenues, subject to the prior payment of operating and
maintenance expenses of the Auxiliary Facilities System, but only
to the extent necessary. There is a rate covenant to provide 2.0
times coverage of maximum annual debt service as well an additional
bonds test. There is no debt service reserve fund. For FY 2015,
pledged revenues provided 14 times MADS ($5.2 million reached in FY
2016).

The Certificates of Participation (COPs) are payable from both
state-appropriated funds and from budgeted legally available funds
of the university from sources other than state appropriations,
including tuition and fees. The COPs are payable from the
university's broad budget, and the obligation to pay can only be
terminated in the event that the university does not receive
sufficient state appropriations and does not have other legally
available funds. While the COPs typically benefit from the breadth
of revenue available to pay debt service, the lack of state
appropriation and severe budgetary and liquidity pressures
materially weakens COP security for EIU relative to the AFS bonds
in the current environment.

Use of Proceeds

Not applicable

Obligor Profile

Eastern Illinois University is a regional public university,
founded in 1895, located in Charleston, approximately 50 miles
south of Champaign. EIU offers baccalaureate and master's degrees
in education, business, arts, sciences, and humanities to about
8,500 headcount students in fall 2015.



EMPIRE RESORTS: Has 27.1 Million Shares Resale Prospectus
---------------------------------------------------------
Empire Resorts, Inc., filed with the Securities and Exchange
Commission a Form S-3 registration statement relating to the
reoffer and resale by Kien Huat Realty III Limited of up to an
aggregate of 27,079,454 shares of common stock, par value $0.01 per
share, of the Company.  The Company will not receive any of the
proceeds from the sale of the shares.

The selling stockholder may sell the shares of common stock in a
number of different ways and at varying prices.

The Company's common stock is traded on the NASDAQ Global Market
under the symbol "NYNY."  The last reported sale price on Feb. 22,
2016, was $14.59 per share.

A full-text copy of the Form S-3 prospectus is available for free
at http://is.gd/lNUhZl

                     About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- owns and operates Monticello
Casino & Raceway, a video gaming machine and harness racing track
and casino located in Monticello, New York, 90 miles northwest of
New York City.

Empire Resorts reported a net loss applicable to common shares of
$24.1 million on $65.2 million of net revenues for the year ended
Dec. 31, 2014, compared to a net loss applicable to common shares
of $27.05 million on $70.96 million of net revenues in 2013.

As of Sept. 30, 2015, the Company had $73.4 million in total
assets, $63.4 million in total liabilities and $10 million in total
stockholders' equity.


ENERGY TRANSFER: Bank Debt Trades at 30% Off
--------------------------------------------
Participations in a syndicated loan under which Energy Transfer
Equity LP is a borrower traded in the secondary market at 70.10
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.53 percentage points from the
previous week.  Energy Transfer pays 250 basis points above LIBOR
to borrow under the $1.0 billion facility. The bank loan matures on
Nov. 15, 2019 and carries Moody's Ba2 rating and Standard & Poor's
BB rating.  The loan is one of the biggest gainers and losers among
247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


EPICOR SOFTWARE: Bank Debt Trades at 6% Off
-------------------------------------------
Participations in a syndicated loan under which Epicor Software
Corp is a borrower traded in the secondary market at 93.93
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.58 percentage points from the
previous week.  Epicor Software Corp pays 375 basis points above
LIBOR to borrow under the $1.4 billion facility. The bank loan
matures on May 25, 2022 and carries Moody's B2 rating and Standard
& Poor's B rating.  The loan is one of the biggest gainers and
losers among 247 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Feb. 19.


ERG INTERMEDIATE: Plan Agent Resolves MMI Services Claim
--------------------------------------------------------
CLMG Corp., who serves as Administrative Agent under the First
Amended Joint Chapter 11 Plan of Reorganization Dated September 18,
2015, as Amended, in Respect of ERG Intermediate Holdings, LLC and
Its Affiliated Debtors, asks the Bankruptcy Court to approve a
stipulation resolving a lien dispute with, and allowing the claim
of, MMI Services, Inc.

Prior to the Petition Date, MMI performed certain services for the
Debtors in connection with their oil and natural gas exploration
and production activities.  MMI asserted a prepetition claim
against the Debtors in the amount of $1,717,331, and has contended
that the claim was secured by a senior materialmen's lien in
certain of the Debtors' property.

Prior to the Petition Date, MMI sought to enforce its purported
lien right against a receivable owed by Phillips 66 Company to the
Debtors as constituting proceeds of production from the Debtors'
properties.  As a consequence, Phillips has withheld payment of
$1,717,331 of a valid debt owed to the Debtors -- Phillips
Receivable -- pending resolution of MMI's purported lien.

As Administrative Agent, CLMG has standing under section 4.1(c) of
the Plan to object to the liens and claims of MMI.

In order to resolve the disputes without the cost and expense of
litigation, the Parties have agreed to fully and finally resolve
MMI's claim against the Debtors.  Pursuant to a Stipulation, they
agree that:

   a. The Debtors will either (i) pay to MMI from the Exit Facility
or the Debtors' cash on hand, or (ii) instruct Phillips to pay to
MMI from the Phillips Receivable, the sum of $858,666.

   b. The Payment will be in full satisfaction of any and all
secured claims and liens (if any) of any kind or nature whatsoever
that MMI may have held, may now hold, or may assert in the future
against the Debtors and/or their property arising from services
performed on or before the Petition Date.

   c. Within two business days after receiving the Payment, MMI
will instruct Phillips to release the remaining balance of the
Phillips Receivable (whether or not reduced by the Payment).

   d. MMI will further promptly record and/or file all such
documents and instruments as may be necessary to evidence the
satisfaction and release of its secured claims and liens.

   e. As of the Stipulation Effective Date, MMI will have an
allowed Class 5 – Unsecured Claim against the Debtors' estates in
the amount of $858,666, which will be satisfied only as a Class 5
claim by the Exempt Assets Trust as provided in the Plan.

   f. The Payment will constitute the payment of an "Essential
Provider Claim" in the amount of $858,666 under the terms of the
approved Settlement and Transaction Support Agreement.

   g. All other prepetition claims of MMI will be disallowed in
their entirety and expunged from the claims register maintained in
the Chapter 11 Cases.

The Court approved the Stipulation on Feb. 19, 2016.

                  Summary of ERG's Confirmed Plan

In June 2015, the bankruptcy court denied a motion filed by the
Creditors Committee to transfer venue to the Central District of
California.

The Court extended the Debtors' exclusive period to propose a
Chapter 11 plan until Oct. 31, 2015, and the period to solicit
acceptances of that plan until Dec. 31, 2015.

The Debtors, unable to find a buyer willing to pony up at least
$250 million in cash, filed the reorganization plan that
contemplates giving control of the company to their prepetition
lenders.  On Oct. 30, 2015, they obtained confirmation of an first
amended version of the Plan.  The plan became effective Nov. 12,
2015.

A copy of the Plan Confirmation Order is available for free at:

     http://bankrupt.com/misc/ERG_Int_655_Plan_Conf_Ord.pdf

On Nov. 2, 2015, the Court entered the Chapter 11 Post-Confirmation
Order governing the treatment of, among other items, (a)
applications for compensation or expenses by professional persons,
(b) motions for administrative expenses, and (c) objections to
claims.  The deadline for filing administrative claims was Dec. 22,
2015.

As reported in the Nov. 16, 2015 edition of the TCR, the estimated
recoveries for creditors under the Plan are:

                                                        Estimated
                                Estimated               Percentage
  Class                       Aggregate Amount  Status  Recovery
  ------                      ----------------  ------  --------
1 - Priority Claims           $1M to $3.7M    Unimpaired  100%
2 - Prep. Facility Claims      $400 million   Impaired   Unknown
3 - Other Secured Claims      $1M to $9.6M    Unimpaired  100%
4 - Admin. Convenience Claims $75K to $250K   Unimpaired  100%
5 - Unsecured Claims         $11.5M to $64M   Impaired  0 to 100%
6 - Intercompany Claims           N/A         Unimpaired   N/A
7 - Holdings Membership
      Interests                   N/A         Impaired     N/A
8 - Other Debtor Membership
      Interests                   N/A         Unimpaired   N/A

                        About ERG Resources

ERG Resources, LLC, is a privately owned oil & gas producer that
was formed in 1996.  Since 2010, ERG Resources and ERG Operating
Co. have been primarily engaged in the exploration and production
of crude oil and natural gas in the Cat Canyon Field in Santa
Barbara County, California.  ERG Resources owns 19,027 gross lease
acreage in the Cat Canyon Field.  ERG Resources also owns and
operates oil & gas leases representing 683 gross acres of
leasehold located in Liberty County, Texas.  The Company's
corporate headquarters is located in Houston, Texas.  Scott Y.
Wood, through two of his affiliates, owns 100% of the membership
units in ERG Intermediate Holdings LLC, the parent company.

ERG Intermediate Holdings, ERG Resources and three affiliates
sought Chapter 11 bankruptcy protection (Bankr. N.D. Tex. Case No.
15-31858) on April 30, 2015, in Dallas, Texas.

The Debtors tapped Jones Day as counsel; DLA Piper as co-counsel;
AP Services, LLC, to provide a CRO; and Epiq Bankruptcy Solutions,
LLC.  The Debtors also obtained approval to retain the law firm of
Gibbs and Bruns to prosecute the Nabors Lawsuit on a contingency
fee basis.

ERG Intermediate estimated $100 million to $500 million in assets
and debt.

The U.S. Trustee overseeing the Chapter 11 case of ERG
Intermediate Holdings LLC appointed five creditors, led by Baker
Petrolite Corporation, to serve on the official committee of
unsecured creditors.  The Committee has tapped Pachulski Stang
Ziehl & Jones LLP as counsel.

CLMG Corp., serves as Administrative Agent under the First Amended
Joint Chapter 11 Plan of Reorganization.  Attorneys for CLMG are:

         WHITE & CASE LLP
         Craig H. Averch, Esq.
         Roberto J. Kampfner, Esq.
         555 South Flower Street, Suite 2700
         Los Angeles, CA 90071
         Telephone: (213) 620-7700
         Facsimile: (213) 452-2329
         E-mail: caverch@whitecase.com
                 rkampfner@whitecase.com

              - and -

         Thomas E Lauria, Esq.
         Southeast Financial Center, Suite 4900
         200 South Biscayne Blvd.
         Miami, FL 33131
         Telephone: (305) 371-2700
         Facsimile: (305) 358-5744
         E-mail: tlauria@whitecase.com


FERGUSON CONVALESCENT: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: Ferguson Convalescent Home, Inc.
        239 S. Main St.
        Lapeer, MI 48446

Case No.: 16-30397

Nature of Business: Health Care

Chapter 11 Petition Date: February  24, 2016

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

Judge: Hon. Daniel S. Opperman

Debtor's Counsel: Martin W. Hable, Esq.
                  MARTIN W. HABLE
                  235 W. Genesee St., Ste. B
                  Lapeer, MI 48446
                  Tel: 810-667-7123
                  E-mail: hablelaw@yahoo.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

Largest unsecured creditor: I.R.S., $1.45 million

The petition was signed by Paul M. Ferguson, vice-president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mieb16-30397.pdf


FOREST PARK FRISCO: $19-Mil. Sale to HCA Unit Approved
------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Texas in
Sherman, authorized Forest Park Medical Center at Frisco, LLC, to
sell all assets currently used by the Debtor in the operation of
its hospital to Columbia Medical Center of Plano Subsidiary, L.P.
for $19,000,000.

The Debtor owns the operations of Forest Park Medical Center, a
54-bed specialty hospital located at 5500 Frisco Square Boulevard,
Frisco, Texas.

Sabra Texas Holdings, L.P., a Texas limited partnership, owns the
real estate on which the Hospital is located and the buildings and
other facilities that comprise the Hospital and leases the property
to the Debtor pursuant to a Lease Agreement dated December 6, 2010
between Sabra (as successor in interest to FPMC Frisco Realty
Partners, L.P.) and the Debtor, as amended by a First Amendment to
Lease Agreement dated October 22, 2013.

The buyer is a wholly owned, indirect subsidiary of HCA Inc.
Closing of the deal is expected on or about March 31, 2016,
according to news reports.  

The Buyer is also buying Sabra's asset.  The consummation of the
purchase and sale contemplated by the Sabra purchase agreement will
occur simultaneously with the Closing.  

Either party may terminate the deal if closing has not occured by
April 1, 2016.

The Debtor attempted to sell its assets prior to filing for
bankruptcy.  It engaged Juniper Advisory, LLC for assistance to
pursue a sale of the Hospital to a purchaser in June, 2014. Despite
many possible purchasers performing due diligence and even one
offer for purchase, (such offer included a purchase of the real
estate
owned by Sabra and Sabra was unwilling to sell the real estate at
the proposed purchase price) the Debtor was unable to close a
sale.

Moreover, the Bankruptcy Court authorized an auction of the
Debtor's assets.  That, however, was cancelled after no competing
bids were received.

Some assets are excluded from the sale, including the Debtor's (a)
restricted and unrestricted cash and cash equivalents; (b)
corporate record books, minute books and tax records, and any other
records which Seller is required to retain by Law; (c) all
Inventory disposed of or exhausted prior to the Effective Time in
the ordinary course of business; (f) all assets, rights and funds
in connection with any Benefit Plan; (g) all insurance proceeds
arising in connection with the Hospital prior to the Closing; and
(h) certain contracts Accounts Receivables, and Causes of Action.

Judge Brenda T. Rhoades held that the Debtor's prepetition secured
lenders --

     (A) Sabra Texas Holdings, L.P., a secured creditor under a
financing statement filed November 10, 2015 and as DIP lender under
a Senior Secured Superpriority Debtor-In-Possession Loan and
Security Agreement.  Sabra agreed to provide the Debtor with
$18,500,000 in DIP financing;

     (B) Texas Capital Bank, N.A, a secured lender pursuant to
financing statements filed June 1, 2012, October 16, 2012, and
January 31, 2014; and

     (C) GE HFS, LLC, a secured lender pursuant to a financing
statement filed April 25, 2012,

-- are deemed to either consent to or be subject to having its
collateral sold, and the sale of the Assets to the Buyer pursuant
to the Asset Purchase Agreement is free and clear of any Claims of
the Secured Lenders against the Assets, with any claim, lien or
right any Secured Lender may have against the Assets attaching to
the proceeds of the Sale Transaction.

The Court also held that the statutory tax liens currently held by
the Collin County Tax Assessor/Collector will attach to the gross
sale proceeds with the same validity, priority and extent that the
liens attached to the assets sold.

The sale order provides that the Buyer (i) is not, and shall not be
considered a successor to the Debtor; Forest Park Medical Center,
LLC; FPMC Services, LLC; Vibrant Healthcare Frisco, LLC as manager;
or any officer, director, agent, employee or anyone under the
direction of any of the foregoing, (ii) has not, de facto or
otherwise, merged with or into the Debtor, (iii) is not a
continuation or substantial continuation, and is not holding itself
out as a mere continuation, of the Debtor, the Debtor's estate,
FPMC, Services, Manager, or their respective, businesses or
operations, or any enterprise of the Debtor, FPMC, Services, or
Manager, and (iv) does not have a common identity of incorporators,
directors or equity holders with the Debtor.

Judge Rhoades further held that Commerce Bank, Olympus America
Inc., De Lage Landen/Karl Storz Capital are each a Lessor of
equipment and other property to the Debtor as evidenced by a true
lease agreement.  All amounts owed under the leases will be
indefeasibly paid in full at Closing in accordance with the Sale
Order and the underlying assets of such Equipment Lessors will be
transferred to the Buyer free and clear of all claims and
encumbrances.

The Court said the sale transaction does not constitute a de facto
plan of reorganization or liquidation as it does not propose to (i)
impair or restructure existing debt of, or equity interests in, the
Debtor, (ii) impair or circumvent voting rights with respect to any
plan proposed by the Debtor, (iii) circumvent chapter 11
safeguards, such as those set forth in sections 1125 and 1129 of
the Bankruptcy Code, or (iv) classify claims or equity interests or
extend debt maturities.

Nothing in the Sale Agreement will obligate or prevent or otherwise
subject the Buyer to any liability in connection with offering to
engage or hire past or present personnel of the Debtor or FPMC
Services, LLC -- the Management Company -- or their respective
affiliates who provided services at or in connection with the
business of the Hospital prior to the Closing.

The Official Committee of Unsecured Creditors filed a limited
objection to the Asset sale.  The Committee balks at the Debtor's
attempt to have the Court approve a transition services agreement
that, according to the Committee, has not been filed with the
Bankruptcy Court at the time the Committee filed its objection on
Feb. 17.  The Committee said the TSA could create significant tax
consequences or other medical malpractice liability, insurance or
other issues.

The Committee also questioned the Debtor's bid to to immediately
pay as much as $7 million in current and future lease obligations
as well as secured claims without any meaningful review of the
validity and amount that is actually due to the lessors or the
secured claimants.

The Committee was appointed on Sept. 30.  The present members of
the Committee are:

     -- Thomas Walker, Chairman
        Pro Silver Star Ltd
        One Cowboys Pkwy
        Irving, TX 75063
        Tel: (972) 497-4394
        Fax: (972) 497-4690
        E-mail: Twalker@dallascowboys.net

     -- Shane Reed
        Medline Industries, Inc.
        1 Medline Place
        Mundelein, IL 60060
        Tel: (847) 643-4103
        Fax: (866) 914-2729
        E-mail: sreed@medline.com

     -- Matthew Davis, M.D.
        Inpatient Physician Associates, PLLC
        6901 Snider Plaza #130
        Dallas, TX 75205
        Tel: (214) 696-8033
        Fax: (214) 361-7855
        E-mail: mdavis@inpatientdocs.com

     -- Scott Way
        LDR Spine USA, Inc.
        13785 Research Blvd, Suite 200
        Austin, TX 78750
        Tel: (512) 344-3421
        Fax: (512) 344-3450
        E-mail: Scott.way@ldrspine.com

Identity Media Services stepped down from the Committee on Oct. 28.
It may be reached through:

        Steven Nuesse
        Identity Media Services
        1801 Royal Lane, Suite 800
        Dallas, TX 75229
        Tel: (972) 868-3000
        E-mail: steve@identitymediaservices.com

Columbia Medical and HCA Inc. are represented in the deal by:

     Brian R. Browder, Esq.
     Waller Lansden Dortch & Davis, LLP
     511 Union Street, Suite 2700
     Nashville, TN 37219-1760
     Facsimile: (615) 244-6804

The Debtor is represented in the deal by:

     William L. Medford, Esq.
     Vickie Driver
     Lewis Brisbois Bisgaard & Smith, LLP
     2100 Ross Avenue, Suite 2000
     Dallas, TX 75201
     Facsimile: 214-722-7111

                    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.  

In its schedules filed in November 2015, the Debtor listed
$21,904,586.97 in total assets (all personal property) and
$32,507,044.12 in total liabilities, including $11,973,088.60 in
general unsecured claims and $19,993,998.76 in secured claims.

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.   Houlihan Lokey, led by Adam Dunayer -- adunayer@hl.com --
its managing director, serves as the Debtor's investment banker.
Donlin, Recano & Company, Inc., serves as claims, noticing and
solicitation agent.  The Debtor also has hired Michael Silhol, Esq.
-- michael.silhol@lawsilhol.com -- at Silhol Law, PLLC, a
Dallas-based law firm that exclusively represents healthcare
providers.  Bell Nunnally & Martin, LLP, led by its partner, R.
Barrett Richards, Esq. --brichards@bellnunnally.com -- as special
counsel to evaluate the estate's health law, corporate law, and tax
obligations.  Wm. Blankenship and Tax Advisors Group, Inc. serves
as the Debtor's property tax consultant.

The Official Committee of Unsecured Creditors is represented by:

     Eric A. Liepins, Esq.
     12770 Coit Road, Suite 1100
     Dallas, TX 75251-1366
     Telephone: (972) 991-5591
     Facsimile: (972) 991-5788
     E-mail: eric@ealpc.com

          - and -

     ARENT FOX LLP
     Robert M. Hirsh, Esq.
     George P. Angelich, Esq.
     1675 Broadway
     New York, NY 10019
     Telephone: (212) 484-3900
     Facsimile: (212) 484-3990
     E-mail: robert.hirsh@arentfox.com
             george.angelich@arentfox.com

The Committee retained CohnReznick LLP, led by partner Clifford
Zucker -- clifford.zucker@cohnreznick.com -- as financial
advisors.

The U.S. Trustee appointed, and the Court approved, Susan N.
Goodman as the patient care ombudsman in the case.  She may be
reached at:

     Susan N. Goodman, RN JD
     MESCH, CLARK & ROTHSCHILD, P.C.
     259 N. Meyer Ave.
     Tucson, AZ 85702
     Tel: 800-467-8886 x141
     Fax: 520-798-1037
     E-mail: sgoodman@mcrazlaw.com


FOREST PARK FRISCO: Hearing Over Cigna Contract Moved to March 17
-----------------------------------------------------------------
Forest Park Medical Center at Frisco, LLC and Cigna HealthCare of
Texas, Inc. announced in open court during a Feb. 18 hearing that
the parties agreed to the continuance of the resolution of certain
issues raised by Cigna with regard to the Debtor's sale of its
assets.

At the hearing, the U.S. Bankruptcy Court in Sherman, Texas,
authorized the Debtor to sell all assets currently used by the
Debtor in the operation of its hospital to Columbia Medical Center
of Plano Subsidiary, L.P. for $19,000,000.  The buyer is a wholly
owned, indirect subsidiary of HCA Inc.  Closing of the deal is
expected on or about March 31, 2016, according to news reports.
Either party may terminate the deal if closing has not occured by
April 1, 2016.

The Debtor and Cigna announced to the Court that the Cigna Matters
would be continued for hearing on March 17, 2016 at 9:30 a.m.,
unless otherwise resolved by the parties.

Cigna and the Debtor are parties to a Hospital Services Agreement,
as amended, under which the Debtor provides Covered Services to
Participants within Cigna's Provider Network.  The Hospital
Agreement can be terminated without cause only upon 120 days'
advance written notice.  

As part of the sale, the Debtor has proposed to assume and assign
certain of the Debtor's executory contracts to the Purchaser, as of
the effective date of the Sale.

According to Cigna, because the Debtor is proposing to sell all of
its operations, the failure to assume and assign the Hospital
Agreement to the Purchaser will sever the Hospital Agreement from
the Forest Park Medical Center, and remove FPMC from Cigna's
Provider Network.  This severance will have a significant and
immediate effect on, among others:

     (i) those patients who are in the FPMC awaiting or
         recovering from treatment because the Debtor is
         currently a Cigna in-network provider under the
         patients' healthcare insurance policies,

    (ii) people covered under Cigna healthcare insurance policies
         who may be contemplating treatment at FPMC and have
         already received or are awaiting pre-authorization, and

   (iii) patients of private practice physicians in Cigna's
         health services network who have privileges only at
         FPMC.

Additionally, any failure to assume and assign the Hospital
Agreement to Purchaser may disrupt certain area doctors, employer
groups and insured persons, Cigna said in papers filed Feb. 16.

Prior to the initial hearing on the Sale Motion, Cigna and Debtor
conferred to address the Termination Notice issues.  As a result of
those discussions, the Court's order approving the sale and bidding
procedures requires at least 90 days' advance notice to Cigna of
any proposed severance of the Debtor's facility from the Cigna
Provider Network.

According to Cigna, the Debtor on Feb. 12 disclosed the contracts
it intends to assume as part of the sale.  The Notice of Proposed
Assumption does not include the Hospital Agreement. However, the
Notice provides that the Purchaser may add contracts to the list of
those to be assumed and assigned.  Prior to the filing of the
Notice of Proposed Assumption, the proposed disposition of the
Hospital Agreement under the Sale was unknown.

According to Cigna, should the Debtor's operations be transferred
to the Purchaser without assignment of the Hospital Agreement, FPMC
will, upon the Effective Date, be severed from the Cigna Network.
Cigna does not object to the Sale itself. However, the Sale
Procedures Order required notice of any proposed severance of the
Hospital Agreement from the FPMC no less than 90 days prior to the
Effective Date.  Accordingly, either the Hospital Agreement must be
assumed and assigned as part of the Sale, or the Effective Date of
the Sale must be delayed until 90 days after irrevocable notice of
severance is provided, Cigna said.

Cigna is represented by:

     Jason S. Brookner, Esq.
     GRAY REED & McGRAW, P.C.
     1601 Elm Street, Suite 4600
     Dallas, TX 75201
     Telephone: (469) 320-6132
     Facsimile: (469) 320-6894
     E-mail: jbrookner@grayreed.com

          - and -

     Jeffrey C. Wisler, Esq.
     CONNOLLY GALLAGHER LLP
     The Brandywine Building
     1000 West Street, Suite 1400
     Wilmington, DE 19801
     Telephone: (302) 757-7300
     Facsimile: (302) 658-0380

                    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.  

In its schedules filed in November 2015, the Debtor listed
$21,904,586.97 in total assets (all personal property) and
$32,507,044.12 in total liabilities, including $11,973,088.60 in
general unsecured claims and $19,993,998.76 in secured claims.

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.

William L. Medford, Esq., and Vickie Driver, Esq., at Lewis
Brisbois Bisgaard & Smith, LLP serve as counsel to the Debtor.  
Houlihan Lokey, led by Adam Dunayer, the firm's managing director,
serves as the Debtor's investment banker.  Donlin, Recano &
Company, Inc., serves as claims, noticing and solicitation agent.
The Debtor also has hired Michael Silhol, Esq., at Silhol Law,
PLLC, a Dallas-based law firm that exclusively represents
healthcare providers.  Bell Nunnally & Martin, LLP, led by its
partner, R. Barrett Richards, Esq., serves as special counsel to
evaluate the estate's health law, corporate law, and tax
obligations.  Wm. Blankenship and Tax Advisors Group, Inc. serves
as the Debtor's property tax consultant.

The Official Committee of Unsecured Creditors is represented by
Eric A. Liepins, Esq., as local counsel, and Arent Fox LLP's Robert
M. Hirsh, Esq., and George P. Angelich, Esq., as lead counsel.  The
Committee retained CohnReznick LLP, led by partner Clifford Zucker,
as financial advisors.

The U.S. Trustee appointed, and the Court approved, Susan N.
Goodman as the patient care ombudsman in the case.  

Columbia Medical Center of Plano Subsidiary,  L.P. and HCA Inc.,
which are buying the Debtor's assets, are represented by Brian R.
Browder, Esq., at Waller Lansden Dortch & Davis, LLP.


FORTESCUE METALS: Bank Debt Trades at 29% Off
---------------------------------------------
Participations in a syndicated loan under which Fortescue Metals
Group Ltd is a borrower traded in the secondary market at 70.50
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents an increase of 1.93 percentage points from the
previous week.  Fortescue Metals pays 275 basis points above LIBOR
to borrow under the $4.950 billion facility. The bank loan matures
on June 13, 2019 and carries Moody's Ba1 rating and Standard &
Poor's BB+ rating.  The loan is one of the biggest gainers and
losers among 247 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Feb. 19.


FPMC FORT WORTH: Court Approves Franklin Hayward as Counsel
-----------------------------------------------------------
FPMC Fort Worth Realty Partners, LP sought and obtained permission
from the Hon. Mark X. Mullin of the U.S. Bankruptcy Court for the
Northern District of Texas to employ Franklin Hayward LLP as
general bankruptcy counsel, effective as of the November 30, 2015
petition date.

Melissa S. Hayward, Esq., will lead the firm's engagement.

Franklin Hayward will be paid at these hourly rates:

       Melissa Hayward          $375
       Julian Vasek             $260
       Paralegal                $160

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

Franklin Hayward was retained by the Debtor in November 2015 to
assist the Debtor in preparing to file its voluntary bankruptcy
petition. To cover the costs and expenses of preparing the
documents related to this bankruptcy case, the Debtor paid $50,000
as a retainer to Franklin Hayward. Franklin Hayward withdrew
$4,441.83 from the retainer pre-petition to pay for its prepetition
services rendered to the Debtor and the chapter 11 filing fee. The
remaining retainer amount will be held as security against
post-petition fees and expenses, as approved by orders of the
Court.

Ms. Hayward, partner of Franklin Hayward, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Franklin Hayward can be reached at:

       Melissa S. Hayward, Esq.
       Julian Vasek, Esq.
       FRANKLIN HAYWARD LLP
       10501 N. Central Expy, Ste. 106
       Dallas, TX 75231
       Tel: (972) 755-7100
       Fax: (972) 755-7110
       E-mail: MHayward@FranklinHayward.com
               JVasek@FranklinHayward.com

                     About FPMC Fort Worth

FPMC Fort Worth Realty Partners, LP filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Tex. Case No. 15-44791) on Nov. 30, 2015.
The petition was signed by Todd Furniss as manager of Neal Richards
Group Forest Park Development LLC, its general partner.  Franklin
Hayward LLP represents the Debtor as counsel.  Judge Mark X. Mullin
has been assigned the case.  

Proofs of claim are due by April 7, 2016.


FPMC FORT WORTH: Court OKs Diamond McCarthy as Real Estate Counsel
------------------------------------------------------------------
FPMC Fort Worth Realty Partners, LP sought and obtained permission
from the Hon. Mark X. Mullin of the U.S. Bankruptcy Court for the
Northern District of Texas to employ Diamond McCarthy, LLP as real
estate counsel.

The Debtor requests that the Court approve the employment of
Diamond McCarthy as its counsel to perform the legal services
pertaining to the sale of the land and improvements located at 5400
Clearfork Main Street, 5450 Clearfork Main Street and 4943
Trailhead Bend Way, Fort Worth, TX 76109, work with the Debtor on
appropriate disclosure materials, negotiate earnest money contracts
with potential buyers, prepare closing documents, and represent the
Debtor through the closing of the sale of the Property, including
addressing any title objections raised by the buyer.

Diamond McCarthy will be paid at these hourly rates:

       Paul Berry, Senior Counsel      $715
       Jason Fulton, Partner           $405
       Charles M. Rubio, Partner       $365
       William Hotze, Associate        $235
       Catherine Burrow, Paralegal     $180

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

Jason Fulton, partner of Diamond McCarthy, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Diamond McCarthy can be reached at:

       Jason Fulton, Esq.
       Diamond McCarthy, LLP
       Tower at Cityplace
       2711 N. Haskell Ave.
       Suite 3100
       Dallas, TX 75204
       Tel: (214) 389-5325
       E-mail: jfulton@diamondmccarthy.com

                      About FPMC Fort Worth

FPMC Fort Worth Realty Partners, LP filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Tex. Case No. 15-44791) on Nov. 30, 2015.
The petition was signed by Todd Furniss as manager of Neal Richards
Group Forest Park Development LLC, its general partner.  Franklin
Hayward LLP represents the Debtor as counsel.  Judge Mark X. Mullin
has been assigned the case.  

Proofs of claim are due by April 7, 2016.



FPMC SAN ANTONIO: Diamond McCarthy Approved as Special Counsel
--------------------------------------------------------------
FPMC San Antonio Realty, Partners, LP sought and obtained
permission from the Hon. Craig Gargotta of the U.S. Bankruptcy
Court for the Western District of Texas to employ Diamond McCarthy,
LLP as special counsel, effective as of the October 6, 2015
petition date.

The Debtor requires special counsel to advise the Debtor in
connection with the sale of the land and improvements located at
5510 Presidio Parkway, San Antonio, TX 78249.

Diamond McCarthy will render services to the Debtor including,
serving as special real estate counsel to the Debtor to advise the
Debtor in connection with the sale of the Forrest Park Hospital
Complex, work with the Debtor on appropriate disclosure materials,
negotiate earnest money contract(s) with potential buyer(s),
prepare closing documents, and represent the Debtor through the
closing of the sale the Property, including addressing any title
objections raised by the buyer. The representation does not include
handling any disputes with the tenants or the property management
company of the Forrest Park Hospital Complex.

Diamond McCarthy will apply to the Court for payment of any fees
and expenses pursuant to the procedures set forth in the Bankruptcy
Code, the Federal Rules of Bankruptcy Procedures and any applicable
orders of this Court for payment of any fees earned.

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

Jason Fulton, partner of Diamond McCarthy, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Diamond McCarthy can be reached at:

       Jason Fulton, Esq.
       Diamond McCarthy, LLP
       Tower at Cityplace
       2711 N. Haskell Ave.
       Suite 3100
       Dallas, TX 75204
       Tel: (214) 389-5325
       E-mail: jfulton@diamondmccarthy.com

                     About FPMC San Antonio

FPMC San Antonio Realty Partners, LP's primary asset is a property
commonly known as the Forest Park Medical Center Hospital and
Medical Office Building located at 5510 Presidio Parkway in San
Antonio, Texas.  Forest Park Medical Center Hospital is a specialty
surgical hospital and medical office building.  The four-story,
150,000 square-foot hospital has 54 beds.  The Property includes an
adjacent 4-story, 84,000 square foot Medical Office Building,
together with a parking garage.

The Debtor did not operate the health care business conducted on
its property and instead leased the surgical hospital to a third
party.  The hospital has ceased operations and furloughed its
employees.

FPMC San Antonio Realty Partners sought Chapter 11 bankruptcy
protection (Bankr. W.D. Tex. Case No. 15-52462) on Oct. 6, 2015 to
pursue an 11 U.S.C. Sec. 363 sale of the assets.   The Debtor was
forced to file the Chapter 11 Case in order to stop an impending
foreclosure on the Property.

Judge Craig A. Gargotta is assigned to the case.

FPMC reported $110.3 million in assets and $67.4 million in
liabilities, according to San Antonio Express-News. The mortgage
loan accounts for most of the debt.

The Debtor tapped the Law Offices of Ray Battaglia, PLLC, as
counsel. The Debtor also engaged CBRE, Inc., to market the
property.

DIP Lender Texas Capital Bank is represented by J. Mark Chevallier,
Esq., at McGuire, Craddock & Strother.


FRESH & EASY: Debtor, UCC Oppose Lewis Class Certification Bid
--------------------------------------------------------------
Fresh & Easy, LLC, and its Official Committee of Unsecured
Creditors are asking the Bankruptcy Court to deny approval of
motions by a former Fresh & Easy employee seeking certification of
a class of all former employees who were allegedly not paid their
accrued and unused paid time off wages.

On Jan. 13, 2016, two motions:

     (1) a "Motion of Darlene Lewis for an Order Applying Fed.
         R. Bankr. P. 7023, Pursuant to Fed. R. Bankr. P. 9014";
         and

     (2) an accompanying "Motion of Darlene Lewis for Class
         Certification and Related Relief",

were filed by former Fresh & Easy employee Darlene Lewis.  The
Motions seek certification of a class of all former Nevada and
Arizona-based employees of Debtor, who were "not paid their accrued
and unused Paid Time Off ("PTO") wages at the time of their
separation of employment from the Debtor."

Ms. Lewis argues that the proposed class is sufficiently numerous
to warrant certification pursuant to Rule 23 of the Federal Rules
of Civil Procedure.  "The Debtor employed approximately 20-30
associates per store location and operated approximately 14 stores
in Nevada and 24 stores in Arizona; thus there are approximately
1,140 Class Members within the applicable statute of limitations.
Based on the foregoing, numerosity can easily be demonstrated," she
said in court filings.

Ms. Lewis, on behalf of herself and all other similarly situated
persons, is asking the Bankruptcy Court to enter an order:

     (i) certifying the class of all former Nevada and Arizona
         employees of the Debtor who were not paid their accrued
         and unused PTO at the time of their separation of
         employment from Fresh & Easy;

    (ii) authorizing Lewis standing to file a general unsecured
         claim on behalf of the Class;

   (iii) appointing Darlene Lewis as Class Representatives; and

    (iv) appointing Thierman Buck LLP and The Law Office of
         Edward J. Kosmowski, LLC as class counsel.

According to the Debtors, no lawsuit has been filed by Ms. Lewis
pre or post-petition, either in this Court or any other
jurisdiction.  On or about Jan. 14, 2016, Ms. Lewis filed a proof
of claim, seeking "Unpaid PTO" on behalf of herself and "and all
other similarly situated persons."  Ms. Lewis filed a second proof
of claim for administrative expenses ("Administrative Proof of
Claim") on behalf of herself and "all other similarly situated
persons" on or about Feb. 1, 2016.

                        Where's the Class?

In its objection, the Debtor argues that Ms. Lewis has failed to
provide a factual or legal basis to support granting either of the
Motions.  The Debtor notes that:

   * Claimant has not initiated an action in any court asserting
     the claims raised in her proofs of claim and the Motions;
     indeed, there is no operative pleading on file in any forum.
     Without an action upon which to base her request for
     certification, it is improper and should be denied on that
     basis alone.

   * Claimant's counsel has not filed the required verified
     statement of multiple creditor representation, as required
     under Bankruptcy Rule 2019.

   * Claimant entered into an enforceable arbitration agreement
     with the Debtor, under which all claims pertaining to her
     employment with Debtor are to be resolved on an individual
     (non-class) basis in arbitration.  The single legal claim
     asserted by Claimant for unpaid paid time off is clearly
     encompassed by this agreement, which necessitates that these
     Motions be denied.

   * Claimant has the burden to show both that the Court should
     apply Rule 7023 to her Proof of Claim, and that the Rule 23
     factors support certification, yet fails to show either.
     First, because putative class members have already received
     notice of the bankruptcy and the claims bar date, certifying
     a class to provide an avenue for former employees to make
     claims against Debtor is unnecessary -- all putative class
     members can easily and cheaply file proofs of claim.
     Moreover, the fact that no class has been certified by a
     non-bankruptcy court (indeed, no action has even been filed)
     also weighs against applying Rule 7023 to the Proof of
     Claim.  Finally, the orderly administration of the estate
     (which is well underway) would be hampered by a certified
     class of employees.

   * Even if the Court did grant Claimant's Rule 7023 and apply
     the factors under Rule 23 to Claimant's Proof of Claim, the
     Motion for Certification should be denied.  Many of the
     pertinent elements and requirements of Rule 23 do not
     support certification; indeed, they weigh against it.
     First, the putative class lacks commonality. Not only does
     Claimant lack any knowledge of the claims of other
     employees, but she cannot dispute that the putative class
     would be divided among those employees who may have claims
     subject to priority in bankruptcy, and those who do not.

   * In addition, Claimant fails to show that her claim is
     typical of other putative class members.  She appears to
     lack any knowledge of the change in Fresh & Easy policy
     regarding the payout of paid time off ("PTO") at termination
     of employment, which makes her claim plainly different from
     other employees. Further, to the extent her Administrative
     Proof of Claim for administrative expenses is even
     encompassed within her request for certification, Claimant
     fails to identify how this claim is typical of other
     putative class members.

The Committee joined in the Debtor's Objection.

"Ms. Lewis appears to be attempting to obtain relief for a class of
claimants which may not actually exist and has sought relief from
this Court without performing any of the procedural requirements to
obtain the relief she seeks.  Accordingly, and for all the reasons
set forth in the Objection, the Court should deny Ms. Lewis'
motions, filed on January 13, 2016, and grant such further relief
as is just," the Committee stated.

Attorneys for Darlene Lewis on behalf of herself and all other
similarly situated persons:

         The Law Office of Edward J. Kosmowski, LLC
         Edward J. Kosmowski, Esq.
         2 Mill Road, Suite 202
         Wilmington, Delaware 19806
         Telephone: (302) 351-9010
         Facsimile: (302) 635-1805
         E-mail: Ed@KosmowskiLaw.com

                 - and -

         Mark R. Thierman, Esq.
         Joshua D. Buck, Esq.
         Leah L. Jones, Esq.
         THIERMAN BUCK LLP
         7287 Lakeside Drive
         Reno, Nevada 89511
         Tel: (775) 284-1500
         Fax: (775) 703-5027
         E-mail: mark@thiermanbuck.com
                 josh@thiermanbuck.com
                 leah@thiermanbuck.com

Attorney for Defendant Fresh & Easy, LLC:

         COLE SCHOTZ P.C.
         Patrick J. Reilley, Esq.
         J. Kate Stickles, Esq.
         Patrick J. Reilley, Esq.
         David W. Giattino, Esq.
         500 Delaware Avenue, Suite 1410
         Wilmington, DE 19801
         Telephone: (302) 652-3131
         Facsimile: (302) 652-3117
         E-mail: npernick@coleschotz.com
                 jstickles@coleschotz.com
                 preilley@coleschotz.com
                 dgiattino@coleschotz.com

               - and -

         SHEPPARD MULLIN
         David Van Pelt, Esq.
         1901 Avenue of the Stars, Suite 1600
         Los Angeles, CA 90067
         Telephone: (310) 228-3734
         Facsimile: (310) 228-3701
         E-mail: dvanpelt@sheppardmullin.com

Counsel to the Official Committee of Unsecured Creditors:

         FOX ROTHSCHILD LLP
         L. John Bird, Esq.
         919 North Market Street, Suite 300
         Wilmington, DE 19801
         Telephone: (302) 654-7444
         Facsimile: (302) 656-8920

               - and -

         Mette H. Kurth, Esq.
         Michael A. Sweet, Esq.
         FOX ROTHSCHILD LLP
         1800 Century Park East, Suite 300
         Los Angeles, CA 90067-1506
         Telephone: (310) 598-4150
         Facsimile: (310) 556-9828

                        About Fresh & Easy

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

Judge Christopher S. Sontchi is assigned to the case.

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

                           *     *     *

As part of the claims process, a bar date of February 19, 2016 has
been established by the Court for creditor claims.


GMAC MORTGAGE: Settlement Fairness Hearing Scheduled for May 24
---------------------------------------------------------------
UNITED STATES BANKRUPTCY COURT  
SOUTHERN DISTRICT OF NEW YORK

IN RE RESIDENTIAL CAPITAL, LLC, et al.,
Debtors.

Case No. 12-12020 (MG)
Chapter 11
Jointly Administered

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION;
(II) PROPOSED SETTLEMENT AND PLAN OF ALLOCATION;
(III) SETTLEMENT FAIRNESS HEARING; AND (IV) MOTION FOR AN AWARD OF

ATTORNEYS' FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO:     All residential mortgage loan borrowers whose loans were
serviced by GMAC Mortgage, LLC ("GMACM") and from whose payments
GMACM recouped or recovered, in whole or part, charges for
lender-placed hazard insurance on residential real property
("Lender-Placed Insurance"), including, without limitation, any
borrowers whose payments were applied, in whole or part, to charges
for Lender-Placed Insurance, at any time from February 3, 2004
through October 2, 2013 (the "Class Period").

THIS NOTICE WAS AUTHORIZED BY THE BANKRUPTCY COURT.  IT IS NOT A
LAWYER SOLICITATION.  PLEASE READ THIS NOTICE CAREFULLY AND IN ITS
ENTIRETY, YOUR RIGHTS MAY BE AFFECTED BY A CLASS ACTION SETTLEMENT
THAT HAS BEEN PROPOSED IN THE ABOVE-CAPTIONED BANKRUPTCY BEFORE
THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 7023 and 9019 of the
Federal Rules of Bankruptcy Procedure and an Order of the United
States Bankruptcy Court for the Southern District of New York, (i)
that Bankruptcy Proof of Claim No. 4074 (the "Bankruptcy Proof of
Claim") in the above-captioned bankruptcy has been preliminarily
certified as a Class Proof of Claim on behalf of a class of all
residential mortgage loan borrowers whose loans were serviced by
GMACM and from whose payments GMACM recouped or recovered, in whole
or in part, charges for Lender-Placed Insurance, including, without
limitation, any borrowers whose payments were applied, in whole or
part, to charges for Lenders-Placed Insurance, at any time during
the Class Period (the "Settlement Class"), except for certain
persons and entities who are excluded from the Settlement Class, as
defined  in the Stipulation and Agreement of Settlement With
Rothstein Plaintiffs (the "Stipulation"); and (ii) that the
Court-Appointed Class Representatives, as defined in the
Stipulation, have reached an agreement to settle the Bankruptcy
Proofs of Claim for an allowed unsecured claim not subject to
subordination in the amount of $13 million against GMAC only (the
"Allowed Claim").  The Allowed Claim will be an "Allowed Borrower
Claim" in Class GS-5, as set forth in the Chapter 11 Plan.

A hearing will be held on May 24, 2016 at 10:00 a.m. before the
Honorable Martin Glenn at the United States Bankruptcy Court for
the Southern District of New York, One Bowling Green, New York, NY
10004-1408, to determine, among other things: (i) whether the
proposed settlement should be approved as fair, reasonable and
adequate; (ii) whether the Bankruptcy Proof of Claim should be
dismissed on the merits and with prejudice against all the Settling
Defendants, and whether the releases specified and described in the
Stipulation should be granted; (iii) whether the proposed Plan of
Allocation should be approved as fair and reasonable; and (iv)
whether Lead Class Counsel's application for an award of attorneys'
fees and reimbursement of expenses should be approved.

If you are a member of the Settlement Class, your rights will be
affected by the Proceeding and the settlement, and you may be
entitled to share in the Settlement Fund.  If you have not yet
received the Summary Direct U.S. Mail Postcard Notice that refers
to, among others, the full printed Notice of (I) Pendency of Class
Action; (II) Proposed Settlement and Plan of Allocation, (III)
Settlement Fairness Hearing, and (IV) Motion for an Award of
Attorneys' Fees and Reimbursement of Litigation Expenses (the
"Notice"), copies of the full printed Notice can be downloaded from
the website maintained by the Claims Administrator at
www.GMACMortgageLenderPlacedInsuranceClassActionSettlement.com  

If you are a member of the Settlement Class and you wish to
participate in the settlement and receive the benefits to which you
are entitled, you do not need to do anything.  By participating in
the settlement, you will be bound by the release provisions and
other provisions of the proposed settlement including any judgments
or orders entered by the Court.    

However, if you are a member of the Settlement Class and do not
wish to participate in the settlement and do not wish to be bound
by the release provisions and other provisions of the proposed
settlement, you must submit a request for exclusion from the
Settlement Class such that it is received no later than May 10,
2016, in accordance with the instructions set forth in the Notice.
If you properly and timely exclude yourself from the Settlement
Class, you will not be bound by any judgments or orders entered by
the Court in the Proceeding and you will not be eligible to share
in the proceeds of the settlement.  Please note however, that you
will be otherwise enjoined from commencing any such lawsuit,
arbitration or other proceeding by the Chapter 11 Plan and orders
of the Bankruptcy Court.

Any objections to any aspect of the proposed settlement, the
proposed Plan of Allocation or Lead Class Counsel's application for
an award of attorneys' fees and reimbursement of expenses must be
filed with the Court and delivered to designated representative
Lead Class Counsel and counsel for the Settling Defendants such
that they are received no later than May 10, 2016, in accordance
with the instructions set forth in the Notice.

PLEASE DO NOT CONTACT THE BANKRUPTCY COURT OR THE CLERK'S OFFICE
REGARDING THIS NOTICE.  Inquiries, other than requests for the
Notice, may be made to Class Counsel:

Mark A. Strauss, Esq.  
Thomas W. Elrod, Esq.  
KIRBY McINERNEY LLP  
825 Third Avenue  
New York, NY 10022  
(212) 371-6600

Dated:  February 23, 2016
By Order of the United States Bankruptcy
Court for the Southern District of New York

                   About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012.

Neither Ally Financial nor Ally Bank is included in the bankruptcy
filings.

ResCap, one of the country's largest mortgage originators and
servicers, was sent to Chapter 11 with 50 subsidiaries amid
"continuing industry challenges, rising litigation costs and
claims, and regulatory uncertainty," according to a company
statement.

ResCap disclosed $15.68 billion in assets and $15.28 billion in
liabilities at March 31, 2012.

Centerview Partners LLC and FTI Consulting are acting as financial
advisers to ResCap.  Morrison & Foerster LLP is acting as legal
adviser to ResCap.  Curtis, Mallet-Prevost, Colt & Mosle LLP is
the
conflicts counsel.  Rubenstein Associates, Inc., is the public
relations consultants to the Company in the Chapter 11 case.
Morrison Cohen LLP is advising ResCap's independent directors.
Kurtzman Carson Consultants LLP is the claims and notice agent.

Ray C. Schrock, Esq., at Kirkland & Ellis LLP, in New York, serves
as counsel to Ally Financial.

ResCap sold most of the businesses for a combined $4.5 billion.
The Bankruptcy Court in November 2012 approved ResCap's sale of its
mortgage servicing and origination platform assets to Ocwen Loan
Servicing, LLC and Walter Investment Management Corporation for $3
billion; and its portfolio of roughly 50,000 whole loans to
Berkshire Hathaway for $1.5 billion.

Judge Martin Glenn in December 2013 confirmed the Joint Chapter 11
Plan co-proposed by Residential Capital and the Official Committee
of Unsecured Creditors.


GO YE VILLAGE: Armstrong Bank Wants 25-Acre Property
----------------------------------------------------
Armstrong Bank asks the U.S. Bankruptcy Court for the Eastern
District of Oklahoma for relief from the automatic stay in the
Chapter 11 case of Go Ye Village, Inc., and to require the
abandonment of Go Ye Village's 25-acre property in Tahlequah,
Oklahoma.

The Bank says it is the original and current holder of a Promissory
Note that was executed by Debtor Go Ye Village, Inc., with an
original principal sum of $309,191.  The Note fully matured on Nov.
16, 2015, and is now due, owing and unpaid, according to the Bank.

The Bank tells the Court that the Debtor is obligated to the Bank
in the sum of $291,715 as of the Petition Date, with interest
thereon from and after said date, at the rate of 7 percent per
annum, until paid.  The Bank claims to hold a properly perfected
first priority lien and security interest in a tract of real
property consisting of approximately 25 acres unimproved land in
Tahlequah, Oklahoma, including the real property, rents, insurance
policies and the proceeds of all such property ("Prepetition
Collateral").

The Bank notes that the value of the Prepetition Collateral, as
stated in the Debtor's Schedule D, is $300,000.  The Bank intends
to file its Proof of Claim shortly.

The Bank contends that the Prepetition Collateral is not necessary
for an effective reorganization.  The Bank further contends that
the Prepetition Collateral has no equity and does not generate any
income.  The Bank asserts that in addition to relief from the
automatic stay, it is further entitled to an order directing that
the Prepetition Collateral be deemed abandoned from the Estate
pursuant to 11 U.S.C. Sec. 554 because there is no value in the
Prepetition Collateral beyond the amount needed to pay the Bank's
valid, secured claim against such Prepetition Collateral.

                        Debtor's Objection

Debtor Go Ye Village tells the Court that the valuation of the
Property at issue in the Bank's Motion as reflected in the Debtor's
schedules was based solely on the amount that the Debtor was able
to borrow against the Property, without any appraisal or
contemporaneous market offers.  The Debtor believes that the value
of the property may be substantially greater and is making
arrangements for a current appraisal.  The Debtor further believes
that there is equity in the Property above the Bank debt.

The Debtor relates that the Property is necessary for the Debtor's
operations and for an effective reorganization.  It further relates
that the Property includes a 6,000 square foot building, which is
the Debtor's principal maintenance facility, used for parts
storage, a woodworking shop and for mechanical work such as repair
of equipment in the living facilities, repair of heat and air and
the like.  The Property also contains an 1,800 square foot building
used for lawn maintenance which stores tractors and lawn equipment
and other items used for landscape maintenance of the Property.
Furthermore, the Property also contains a 20 by 20 foot medical
storage building which is used in its operations, according to the
Debtor.

The Debtor avers that the total replacement cost of all of these
buildings would exceed $300,000.  The Debtor further tells the
Court that the Property contains approximately 20 recreational
vehicle pads which are equipped for electricity and waste disposal.
It relates that the RV pads are in frequent use by visitors to the
facility and are used for other events related to the facility.

The Debtor further relates that the acreage provides opportunity
for expansion and adds to the overall value of the Debtor's
property for purposes of sale or refinancing.  The Debtor asserts
that loss of the Property would materially reduce the value of the
Debtor's remaining Property and impair its prospects for
reorganization.

The Official Committee of Unsecured Creditors joined in the
Debtor's objection.

Armstrong Bank is represented by:

          Mark A. Craige, Esq.
          CROWE & DUNLEVY
          500 Kennedy Building
          321 South Boston Avenue
          Tulsa, OK 74103
          Telephone: (918)592-9878
          Facsimile: (918)599-6318
          E-mail: mark.craige@crowedunlevy.com

Go Ye Village, Inc.'s attorneys:

          Sam G. Bratton II, Esq.
          David H. Herrold, Esq.
          J. Patrick Mensching, Esq.
          DOERNER, SAUNDERS, DANIEL &
          ANDERSON, L.L.P.
          Williams Center Tower II
          Two West Second St., Suite 700
          Tulsa, OK 74103
          Telephone: (918)582-1211
          Facsimile: (918)591-5360
          E-mail: sbratton@dsda.com
                  dherrold@dsda.com
                  pmensching@dsda.com

The Official Committee of Unsecured Creditors' attorney:

          Andrew R. Turner, Esq.
          CONNER & WINTERS, LLP
          4000 One Williams Center
          Tulsa, OK 74172-0148
          Telephone: (918)586-8972
          Facsimile: (918)586-8672
          E-mail: aturner@cwlaw.com

                      About Go Ye Village, Inc.

Go Ye Village, Inc. filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Okla Case No. 15-81287) on Nov. 30, 2015.  The petition was
signed by Maurice D. Turney, the president.  Judge Tom R. Cornish
is assigned to the case.

The Debtor disclosed total assets of $24.48 million and total debts
of $36.18 million.

Proofs of claim are due by April 10, 2016.

Doerner, Saunders, Daniel & Anderson, LLP serves as the Debtor's
counsel.  

The U.S. Trustee for Region 20 appointed an official committee of
unsecured creditors.  Conner & Winters represents the committee.

The U.S. Trustee also appointed a patient care ombudsman in the
Debtors' bankruptcy case.


GUESTLOGIX INC: Court Approves Interim Facility, SISP Process
-------------------------------------------------------------
GuestLogix Inc. on Feb. 22 disclosed that the Ontario Superior
Court of Justice (Commercial List) granted (i) on February 12,
2016, an order approving a US$3 million interim facility (the
"Interim Facility") in the context of its previously disclosed
Companies' Creditors Arrangement Act ("CCAA") proceedings and (ii)
on February 19, 2016, an order approving the SISP Procedure.

Sale and Investment Solicitation Process

The Company has received court approval for the implementation of a
sale and investment solicitation process (the "SISP Procedure") to
be conducted within the CCAA proceedings under the supervision of
the Monitor.  The goal of the SISP Procedure is to generate the
highest possible bids for the acquisition of the business or the
assets of the Company or a refinancing or recapitalization of the
Company.  Canaccord Genuity Corp. ("Canaccord") will act as
financial advisor to the Company in connection with the SISP
Procedure.

Parties interested in participating in the SISP are advised to
review the SISP Procedure, a copy of which can be found on the
Monitor's website at www.pwc.com/ca/guestlogix

All defined terms herein shall have the meanings ascribed to them
in the SISP Procedure.

The SISP Procedure describes the manner in which prospective
bidders may gain access to or continue to have access to due
diligence materials concerning the Company and its assets, the
manner in which bidders, letters of interest and bids become Phase
1 Qualified Bidders and Phase 2 Qualified Bidders, Qualified LOIs
or Qualified Bids (as each term is defined under the SISP
Procedure), respectively, the receipt and negotiations of Qualified
Bids received, the ultimate selection of the successful bidder, if
any, and the approval thereof by the Company, Canaccord, the
Interim Lenders (as defined below), the Monitor and the court.  The
Monitor will supervise the SISP Procedure.

Phase 1 Qualified Bidders will be required to deliver non-binding
letters of interest that meet the SISP Procedure requirements to
Canaccord and the Monitor by no later than 5:00 p.m. (Eastern Time)
on March 18, 2016.

Phase 2 Qualified Bidders, if they wish to submit a bid, will be
required to deliver Qualified Bids to Canaccord and the Monitor by
no later than 5:00 p.m. (Eastern Time) on March 31, 2016, or such
other date and time as may be agreed to by the Company and
Canaccord, with approval of the Monitor and the Interim Lenders.

Qualified Bids must, amongst other things, be binding and
irrevocable offers to acquire GuestLogix or its assets or business
or for the restructuring, reorganization or refinancing of
GuestLogix or its business.  Qualified Bids cannot be conditional
on due diligence or financing, and must include written evidence of
a firm, irrevocable commitment for financing or other evidence of
ability to consummate the proposed transaction.

Under the CCAA proceedings, it is expected that the Company's
operations will continue uninterrupted in the ordinary course of
business and, during the CCAA proceedings and SISP Procedure,
obligations to employees, key suppliers of goods and services and
obligations to the Company's customers will continue to be met on
an ongoing basis and the Company's management will remain
responsible for the day-to-day operations of the Company.

Interim Financing

The Company has obtained court approval of the Interim Facility in
the maximum amount of US$3,000,000 from its secured creditors (the
"Interim Lenders") and a court ordered charge ranking senior in
priority to existing security interests to secure the Company's
obligations to the Interim Lenders under the Interim Financing.

Monitor

PricewaterhouseCoopers Inc. (the "Monitor") has been appointed
Monitor of the Company for the CCAA proceedings and SISP Procedure.
A copy of all court orders or amendments thereto, the SISP
Procedure and other details related thereto may be accessed on the
Monitor's website at www.pwc.com/ca/guestlogix Enquiries for the
Monitor may be directed at Tammy Muradova at 1 (416) 687-8238.

                       About GuestLogix

GuestLogix -- http://www.guestlogix.com-- provides merchandising,
payment and business intelligence technology to the passenger
travel industry, both onboard and off-board.


GUIDED THERAPEUTICS: Effects a 1-for-100 Reverse Stock Split
------------------------------------------------------------
Guided Therapeutics, Inc. announced a one-for-one hundred reverse
split of its issued and outstanding common stock.  The reverse
stock split was effective on Feb. 24, 2016, and Guided's common
stock began trading on a split-adjusted basis at that time, with a
"D" temporarily appended to the end of its ticker symbol to signify
the split.

The reverse stock split will affect all issued and outstanding
shares of Guided's common stock, as well as shares of common stock
underlying stock options, warrants and convertible preferred stock
outstanding immediately prior to the reverse stock split.  Guided's
stockholders granted authority to the Board of Directors to effect
the reverse stock split at a special meeting of stockholders held
on Nov. 11, 2015.

Upon the reverse stock split, every 100 shares of issued and
outstanding common stock will automatically be converted into one
share of common stock.  Fractional shares will be rounded up to a
full share.  The reverse stock split will not impact any
stockholder's percentage ownership or voting power, except for
minimal effects resulting from the treatment of fractional shares.
Following the reverse stock split, the number of outstanding shares
of common stock will be reduced by a factor of 100.  There will be
no change in the number of authorized shares of common stock that
Guided has authority to issue.

Computershare Inc. will act as exchange agent for the reverse stock
split.  Stockholders holding their shares in book-entry form or
through a bank, broker or other nominee do not need to take any
action in connection with the reverse stock split, and will see the
impact of the reverse stock split automatically reflected in their
accounts following the effective date.  Beneficial holders may
contact their bank, broker or nominee for more information. For
those stockholders holding physical stock certificates,
Computershare will send instructions for exchanging those
certificates for shares held in book-entry form or for new
certificates, in either case representing the post-split number of
shares. Computershare can be reached at (800) 962-4284.

                    About Guided Therapeutics

Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.

For the year ended Dec. 31, 2014, the Company reported a net loss
attributable to common stockholders of $10.03 million on $65,000 of
contract and grant revenue compared to a net loss attributable to
common stockholders of $10.39 million on $820,000 of contract and
grant revenue in 2013.

As of Sept. 30, 2015, the Company had $2.76 million in total
assets, $6.25 million in total liabilities and a total
stockholders' deficit of $3.48 million.


GULFMARK OFFSHORE: Moody's Cuts Corporate Family Rating to Caa3
---------------------------------------------------------------
Moody's Investors Service downgraded GulfMark Offshore Inc.'s
(GulfMark) Corporate Family Rating (CFR) to Caa3 from B3,
Probability of Default Rating (PDR) to Caa3-PD from B3-PD, and
senior unsecured notes to Ca from Caa1. In addition, the
Speculative Grade Liquidity (SGL) Rating was lowered to SGL-4 from
SGL-3. The rating outlook is negative. This action concludes the
rating reviews begun on January 21, 2016.

"The downgrades of GulfMark's ratings are driven by the extreme
softness in the offshore supply vessel (OSV) industry and the
resulting weak credit metrics at Gulfmark. The sharp decline in OSV
utilization and dayrates will significantly weaken GulfMark's 2016
EBITDA and exacerbate the balance sheet stress," said Sreedhar
Kona, Moody's Senior Analyst. "The negative outlook reflects
Gulfmark's heighted likelihood of pursuing a balance sheet
restructuring option or purchase of its debt at steep discount."

Downgrades:

-- Issuer: GulfMark Offshore Inc.

--  Corporate Family Rating, Downgraded to Caa3 from B3

-- Probability of Default Rating, Downgraded to Caa3-PD from B3-
    PD

-- Senior Unsecured Notes due 2022, Downgraded to Ca (LGD4) from
    Caa1 (LGD4)

-- Speculative Grade Liquidity (SGL) Rating, Lowered to SGL-4
    from SGL-3

Outlook Actions:

-- Issuer: GulfMark Offshore Inc.

-- Outlook changed to Negative from Rating under Review

RATINGS RATIONALE

The downgrade of GulfMark's Corporate Family Rating (CFR) to Caa3
from B3 is primarily driven by the continued deterioration of its
cash flow generation due to poor demand for oil field services.
Reduction in capex budgets for 2016 by the offshore E&P companies
will result in further declines in the utilization and the day
rates of the OSVs. Based on Moody's projections, Gulfmark is
expected to generate approximately $42 million of EBITDA for 2015
(which is less than 25% of its 2014 EBITDA) and less than $7
million of EBITDA through 2016. This weak cash flow generation
trend will result in leverage metrics that are unsustainable and
point towards an increased risk of balance sheet restructuring.
Gulfmark could also execute open market debt purchases at steep
discount to the par value, resulting in a distressed exchange (an
event of default per Moody's definition of default). Additionally,
Gulfmark could potentially breach its covenants under its senior
secured revolving credit facility.

The Ca rating on GulfMark's $500 million of senior unsecured notes
due 2022 reflects their subordination to the $100 million senior
secured revolving credit facility (Multicurrency Facility
Agreement) due 2019 and the NOK 600 million (approximately $70
million) senior secured revolving credit facility (Norwegian
Facility Agreement) due 2017, and their priority claims to certain
of the company's assets. The combined size of these revolver
facilities relative to GulfMark's outstanding senior unsecured
notes results in the notes being rated one-notch below the Caa3
CFR.

GulfMark's SGL-4 Speculative Grade Liquidity (SGL) indicates weak
liquidity over the next 12-18 months. At September 30, 2015,
GulfMark had $31.2 million of cash, $175.1 million of availability
under its $200 million Multicurrency facility ($23 million of
borrowings and $1.9 million of letters of credit outstanding) and
NOK 600 million fully available under its Norwegian senior secured
revolving credit facility. However, in December 2015, the
Multicurrency Facility Agreement was amended to reduce the revolver
size to $100 million. For the next twelve months, GulfMark's cash
interest will be approximately $32 million and capital spending of
approximately $38 million. We expect the company to either rely on
the existing cash on the balance sheet or borrowings under the
revolving credit facility to meet its cash needs, as the EBITDA
generated through 2016 will not be sufficient. There are a
multitude of financial maintenance covenants under the
Multicurrency Facility and the Norwegian Facility. The
Multicurrency Facility has a capitalization ratio requirement of
60%, a collateral to debt ratio of 300%, a collateral to
commitments ratio of 200%, a minimum liquidity test of $35 million
and a consolidated last twelve months adjusted EBITDA of $10
million for first quarter, $15 million for second quarter of 2016
and $20 million from thereon. The Norwegian Facility has the same
capitalization ratio test and the same minimum EBITDA test as the
Multicurrency facility, and in addition an aggregate loans to fleet
market value of 300%, for the vessels securing the facility. Given
the projected EBITDA for 2016, GulfMark could potentially breach
the EBITDA covenant in the second quarter of 2016. The company has
54% of its fleet not pledged as collateral to the secured
facilities and the potential sale of some assets moderately
accounts for alternate liquidity sources. However, given the weak
asset sale environment, the amount of proceeds from these asset
sales is uncertain.

The negative outlook reflects the likelihood of distressed
exchanges and potential covenant breach risk.

A downgrade could occur if the company breaches covenants or
performs a balance sheet restructuring.

Ratings are not likely to be upgraded at least through 2016, given
the weak demand outlook and softness in the oilfield services
sector. Should a rise in utilization rates and dayrates contribute
to debt to EBITDA ratio appearing to be sustainable below 6.0x,
combined with adequate liquidity, GulfMark's ratings could be
upgraded.

GulfMark Offshore, Inc. (GulfMark) owns and operates a fleet of
marine offshore support vessels (OSVs), which provide support and
transportation services for the offshore oil and gas industry. The
company's vessels are used to transport drilling materials,
supplies, and personnel to offshore facilities, and to move
drilling structures.


GYMBOREE CORP: Bank Debt Trades at 48% Off
------------------------------------------
Participations in a syndicated loan under which Gymboree Corp is a
borrower traded in the secondary market at 51.88
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.48 percentage points from the
previous week.  Gymboree Corp pays 350 basis points above LIBOR to
borrow under the $0.82 billion facility. The bank loan matures on
Feb. 23, 2018 and carries Moody's B3 rating and Standard & Poor's
CCC+ rating.  The loan is one of the biggest gainers and losers
among 247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


H. KREVIT: Delays Auction for 2nd Time Due to Environmental Issues
------------------------------------------------------------------
H. Krevit and Company, Incorporated, and the stalking horse bidder
are working on an amendment to their asset purchase agreement to
deal with environmental issues and other issues.  Thus, the Debtors
sought and obtained a Bankruptcy Court order granting a one
week-extension of the same timeline, extending the bidding deadline
to Feb. 25, the auction to Feb. 29 at 10:00 a.m. and the sale
hearing to March 2, 2016 at 11:00 a.m.

On Dec. 18, the Debtors filed motions to sell assets and to
implement auction procedures.  The Debtors presented a contract to
sell their operating assets to secured creditor AJM Industries for
$19,026,544, absent higher and better offers.  AJM has offered to
purchase the assets for a credit bid of $15 million:

     $2,250,000 claim vs. Krevit,
    $11,400,000 claim vs. GreenChlor,
       $422,500 claim vs. Trucking, and
       $885,000 claim vs. GCTR,

   payment of amounts to repay the DIP lender of the
   $1.5 million DIP financing,

   payment of the cure costs for assume contracts,

   plus cash of:

   * $175,000 to satisfy the carve-out;
   * $800,000 to satisfy payroll obligations;
   * $150,000 to satisfy all administrative claims
   * $200,000 to be utilized for distributions to holders
     of unsecured claims.

On Dec. 23, 2015, the Court approved the auction procedures and set
a Feb. 4 deadline for bids, a Feb. 8 auction and a Feb. 10 sale
hearing.  

The judge also approved a break-up fee of $200,000 payable to AJM
in the event the assets are sold to another party.

On Feb. 1, 2016, the Debtors filed a motion to extend the date of
the auction and other related deadlines, which Motion was granted
on Feb. 3, extending the bid deadline to Feb. 18, the auction to
Feb. 22, and the hearing to consider approval of the sale to Feb.
24.  

On Feb. 16, 2016, the Debtors filed a second agreed motion to
extend the sale related deadlines, seeking to extend by one week to
the bidding deadline to Feb. 25, the auction to Feb. 29 and the
sale hearing to March 2.

One of the items which have generated significant interest by
stalking horse bidder AJM and others is the environmental condition
of the real property leased and owned by the Debtors. Towards that
end, the Debtors have permitted the Stalking Horse Bidder to
conduct a site investigation and have informed the Stalking Horse
Bidder that the Stalking Horse Bidder must be the certifying party
under the Connecticut Transfer Act (Conn. Gen Stat. Sections
221-134 to 22a-134e). The Debtors have also permitted another
prospective bidder, Allied New Technologies 2, Inc., to conduct a
site investigation.

The Debtors said that they are extending the deadlines by one
additional week because the parties are still working out the terms
of an amendment to the Asset Purchase Agreement to deal with the
environmental issues and other issues among the Debtor, the
Official Committee, and the Stalking Horse Bidder.

                    About H. Krevit and Company

H. Krevit and Company, Incorporated is a manufacturer and
distributor of various inorganic chemicals, including sodium
hypochlorite (bleach), hydrochloric acid, and sodium hydroxide
(caustic soda). Krevit was established in 1919 and is the oldest
manufacturer of sodium hypochlorite in the United States.

GreenChlor, Inc. is the owner and operator of a chlor-alkali
manufacturing facility in New Haven, Connecticut and Krevit, which
owns 80% of GreenChlor, is its sole customer.  GCTR Realty, LLC
("GCTR") owns the real property located at 71-73 Welton Street, New
Haven, Connecticut.  Trucking, LLC ("HKC Trucking") is the owner of
a fleet of Volvo tractors which are used by Krevit in the operation
of Krevit's business.

H. Krevit and Company and its three affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Conn. Case Nos. 15-31904 to
15-31907) on Nov. 19, 2015, with plans to effectuate a sale of the
assets as a going concern.

The petitions were signed by Thomas S. Ross as president.  Judge
Julie A. Manning has been assigned the cases.

AJM Industries LLC ("AJM") is the Debtors' primary secured
creditor.  As of the Petition Date, AJM held claims against the
Debtors in the aggregate amount of $19,838,168.  AJM's claims are
secured by liens on substantially all of the Debtors' assets having
priority, with limited exceptions, ahead of all other
claims, liens, interests and encumbrances.

Rogin Nassau LLC serves as counsel to the Debtors.  The Debtors
tapped TrueNorth Capital Partners LLC to act as investment banker
in selling their assets.

The Office of the U.S. Trustee appointed five creditors to the
official committee of unsecured creditors.  Timothy S. Ponsler at
Olin Chlor Alkali Products Division; and Anthony Bellucci at
Hamilton Connections, are Co-Chairs of the Official Committee of
Unsecured Creditors.  Polsinelli PC represents the Committee.


H. KREVIT: Seeks to Extend ACM Credit Facility to March 18
----------------------------------------------------------
H. Krevit and Company, Incorporated, is asking the Bankruptcy Court
for approval to extend its $1.5 million revolving credit facility
provided by ACM Business Solutions, LLC to March 18, 2016.  

Judge Julie A. Manning has granted interim approval of the extended
revolving credit facility.  A copy of the Interim Order is
available for free at:

    http://bankrupt.com/misc/H_Krevit_165_2nd_DIP_Int_Ord.pdf

On the Petition Date, Debtors filed a motion to obtain credit from
ACM, use cash collateral, and grant adequate protection to the
prepetition secured creditors.

On Nov. 25, Dec. 9, and Dec. 16, 2015, the Court entered interim
orders authorizing the Debtors to use cash collateral and obtain
credit.

On Dec. 23, 2015, the Court entered a final order approving the
postpetition financing and use of cash collateral.  The Final Order
provided for the Debtors to borrow up through Feb. 15, 2016 (in
anticipation of an auction of the Debtor's assets taking place on
or before Feb. 15, 2016).

On Feb. 1, 2016, the Debtors filed a motion to extend the date of
the auction and other related deadlines, which Motion was granted
on Feb. 3, extending the bid deadline to Feb. 18, the auction to
Feb. 22, and the hearing to consider approval of the sale to Feb.
24.  Accordingly, the Debtors now seek an additional interim and
final order authorizing them to obtain credit and granting adequate
protection to ACM and authorizing use of cash collateral, all upon
essentially the same terms contained within the prior Final Order,
up through and including March 18, 2016.

Pursuant to the DIP Facility, the Debtors established a secured
lending facility pursuant to which Debtors may obtain loans from
time to time in an aggregate principal amount up to $1,500,000
outstanding at any time, secured by all personal property of
Debtors, wherever located and whether created, acquired or arising
prior to or after the Petition Date.  

An immediate and ongoing need exists for the Debtors to obtain
financing to continue the operation of their businesses as
debtor-in-possession under Chapter 11 of the Bankruptcy Code, to
minimize disruption of Debtors' businesses and to allow the Debtor
to effectuate a sale of its assets.

Counsel to the Debtors:

         Barry S. Feigenbaum, Esq.
         Matthew T. Wax-Krell, Esq.
         ROGIN NASSAU LLC
         E-mail: bfeigenbaum@roginlaw.com
                 mwax-krell@roginlaw.com

                    About H. Krevit and Company

H. Krevit and Company, Incorporated is a manufacturer and
distributor of various inorganic chemicals, including sodium
hypochlorite (bleach), hydrochloric acid, and sodium hydroxide
(caustic soda). Krevit was established in 1919 and is the oldest
manufacturer of sodium hypochlorite in the United States.

GreenChlor, Inc. is the owner and operator of a chlor-alkali
manufacturing facility in New Haven, Connecticut and Krevit, which
owns 80% of GreenChlor, is its sole customer.  GCTR Realty, LLC
("GCTR") owns the real property located at 71-73 Welton Street, New
Haven, Connecticut.  Trucking, LLC ("HKC Trucking") is the owner of
a fleet of Volvo tractors which are used by Krevit in the operation
of Krevit's business.

H. Krevit and Company and its three affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Conn. Case Nos. 15-31904 to
15-31907) on Nov. 19, 2015, with plans to effectuate a sale of the
assets as a going concern.

The petitions were signed by Thomas S. Ross as president.  Judge
Julie A. Manning has been assigned the cases.

AJM Industries LLC ("AJM") is the Debtors' primary secured
creditor.  As of the Petition Date, AJM held claims against the
Debtors in the aggregate amount of $19,838,168.  AJM's claims are
secured by liens on substantially all of the Debtors' assets having
priority, with limited exceptions, ahead of all other
claims, liens, interests and encumbrances.

Rogin Nassau LLC serves as counsel to the Debtors.  The Debtors
tapped TrueNorth Capital Partners LLC to act as investment banker
in selling their assets.

The Office of the U.S. Trustee appointed five creditors to the
official committee of unsecured creditors.  Timothy S. Ponsler at
Olin Chlor Alkali Products Division; and Anthony Bellucci at
Hamilton Connections, are Co-Chairs of the Official Committee of
Unsecured Creditors.  Polsinelli PC represents the committee.


HALAIS GROUP: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Halais Group, Inc.
           dba Monte Calvario
        PO Box 5519
        Caguas, PR 00726

Case No.: 16-01361

Chapter 11 Petition Date: February 24, 2016

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Hon. Mildred Caban Flores

Debtor's Counsel: Carlos A Ruiz Rodriguez, Esq.
                  LCDO. CARLOS ALBERTO RUIZ, CSP
                  PO Box 1298
                  Caguas, PR 00726-1298
                  Tel: (787) 286-9775
                  Fax: (787) 747-2174
                  E-mail: caruiz@reclamatusderechos.com
                          carlosalbertoruizquiebras@gmail.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Raymond Halais, president, authorized
representative of Halais.

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


HEBREW HOSPITAL: Court Directs Trustee to Appoint Ombudsman
-----------------------------------------------------------
Judge Michael E. Wiles of the United States Bankruptcy Court for
the Southern District of New York entered an order directing the
United States Trustee to appoint a patient care ombudsman pursuant
to Section 333 of the Bankruptcy Code for quality monitoring of
patient care and to represent the interests of the Hebrew Hospital
Senior Housing Inc.'s patients.

William Harrington, United States Trustee, is represented by:

     Greg M. Zipes, Esq.
     Trial Attorney
     OFFICE OF THE UNITED STATES TRUSTEE
     201 Varick Street, Room 1006
     New York, NY 10014

        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.


HEBREW HOSPITAL: Seeks $2-Mil. DIP Financing from HHH Westchester
-----------------------------------------------------------------
Hebrew Hospital Senior Housing Inc. seeks authority from the
Bankruptcy Court for HHSH to obtain a super-priority, post-petition
debtor-in-possession financing in the aggregate principal amount of
$2 million -- $500,000 of which is to be borrowed on an interim
basis -- from Hebrew Hospital Home of Westchester, Inc.

Loans under the DIP Facility will accrue interest at the rate of
5.75% per annum.  Upon the occurrence and during the continuance of
an Event of Default, Loans under the DIP Facility will accrue
interest at the rate of 7.75% per annum.  The DIP Facility provides
that an amount of up to $400,000 in proceeds of borrowings under
the DIP Facility will be available for the payment of U.S. Trustee
fees and applicable interest, professional fees of the Debtors and
the official committees of unsecured creditors.

According to the Debtors' counsel, Raymond L. Fink, Esq., at Harter
Secrest & Emery LLP, in Buffalo, New York, prior to the HHSH
Petition Date, HHSH received and accepted a proposal for a $12.2
million post-petition credit facility, which contemplated the
payment in full of the Pre-Petition Obligations, proposed to be
extended by Millennium Trust Company, LLC, custodian FBO Lapis
Municipal Opportunities Fund II LP and Lapis Aquilo Fund II LP, as
Lender.  However, strident oppositions were filed in response to
HHSH's motion and the prospects for obtaining approval of the Lapis
DIP Facility are dim, leaving HHHW as the only remaining prospect,
Mr. Fink says.

Mr. Fink asserts that HHSH has an imminent and critical need to
obtain the post-petition financing under the DIP Facility and to
use Cash Collateral so that it can ensure that services to its
residents remain undisturbed and that HHSH has sufficient runway to
operate through an orderly sale process.  The quality of care for
the clients who reside in HHSH’s enriched housing and skilled
nursing facilities is of paramount importance, and without the DIP
Facility, HHSH will have insufficient funds to service those needs
on an ongoing basis, Mr. Fink adds.  After considering all of its
alternatives, HHSH has concluded that the willingness of HHHW to
provide HHSH with capital for operations upon the terms and
conditions set forth in the DIP Loan Document and the Interim
Order, and pursuant to the terms of an agreed upon Budget
represents the best financing presently available to HHSH, Mr. Fink
tells the Court.

               NY Attorney General Objects

The Office of the New York State Attorney General, as the statutory
representative of the ultimate beneficiary of charitable assets, is
concerned about the extension of an additional $2,000,000 loan to
HHSH because, typically, not-for-profit corporations are not
generally in the business of making loans, and certainly not high
risk loans like the one being sought by the Debtors.

Moreover, the OAG is troubled about how HHSH is managing its cash
flow because in approximately two months after HHSH's receipt of
the bridge loan from HHHW, HHSH has managed to burn through $1
million, which was obtained exclusively for the Debtor's operations
and to carry it through to a bankruptcy sale with a stalking horse
buyer.

According to the OAG, the additional loan of $2 million seems to be
a bridge to nowhere in the light of the HHSH's inability to satisfy
the existing bridge loan and to secure a stalking horse buyer
hardly seems to be in the best interest of HHHW and to the benefit
of its creditors.

Hebrew Hospital Senior Housing Inc. and Hebrew Hospital Home of
Westchester, Inc. are represented by:

     Raymond L. Fink, Esq.
     John A. Mueller, Esq.
     HARTER SECREST & EMERY LLP
     12 Fountain Plaza, Suite 400
     Buffalo, New York 14203-2293
     Telephone: (716) 853-1616
     Email: rfink@hselaw.com
            jmueller@hselaw.com

Eric T. Schneiderman, Attorney General of the State of New York,
Attorney for the Ultimate Charitable Beneficiaries is represented
by:

     Sandra Giorno-Tocco, Esq.
     Assistant Attorney General
     44 S. Broadway, 5th Floor
     Westchester Regional Office
     White Plains, New York 10601
     Telephone: (914) 422-8755
     Facsimile: (914) 422-8706

                    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.


HIGHWOODS PROPERTIES: Fitch Withdraws BB+ Pref. Stock Rating
------------------------------------------------------------
Fitch Ratings has affirmed and withdrawn these ratings for
Highwoods Properties, Inc. and its operating partnership Highwoods
Realty, L.P. (collectively, HIW):

Highwoods Properties, Inc.

   -- Issuer Default Rating (IDR) at 'BBB';
   -- Preferred stock at 'BB+'.

Highwoods Realty Limited Partnership

   -- IDR at 'BBB';
   -- Senior unsecured line of credit at 'BBB';
   -- Senior unsecured term loans at 'BBB';
   -- Senior unsecured notes at 'BBB'.

The Rating Outlook is Stable.

Fitch has chosen to withdraw the ratings for Highwoods for
commercial reasons.

                         KEY RATING DRIVERS

Fitch's ratings for HIW reflect the company's credit metrics, which
are consistent with a 'BBB' rated office REIT with the company's
asset profile.  HIW owns a high quality real estate portfolio
within its core Southeast and Mid-Atlantic markets that has a
granular tenant base with solid credit quality and manageable lease
expirations over the next several years.  HIW also has good
contingent liquidity provided by unencumbered assets, which cover
unsecured debt by 2.1x, on a pro forma basis that includes the sale
of the company's Country Club Plaza (CCP) asset.

The company's focus on capital intensive office properties in less
supply constrained secondary urban and suburban markets, as well as
a shortfall under Fitch's base case liquidity analysis and the
company's high adjusted funds from operations (AFFO) payout ratio
are ratings limiting factors.

                    APPROPRIATE CREDIT METRICS

Fitch expects HIW's leverage to sustain in the mid-to-high 5.0x
range through 2018 assuming low single digit same store net
operating income (SSNOI) growth, successful stabilization of its
development pipeline.

The company's leverage was 6.3x as of Dec. 31, 2015 and 6.0x on an
annualized fourth-quarter 2015 basis, which includes a full period
contribution from the company's $440 million of acquisitions on
Sept. 30, 2015.  This compares to 5.7x and 5.8x for the years ended
2014 and 2013, respectively.  Fitch defines leverage as
consolidated debt net of readily available cash for debt repayment
over recurring operating EBITDA (excluding non-cash above/below
market lease income and non-cash stock compensation expense, but
including recurring cash distributions from joint ventures).

Fixed charge coverage (FCC) should sustain in the high 2.0x range
through 2018, supported by lower interest cost on debt refinancings
in addition to the internal growth and development completions that
support Fitch's leverage expectations.

Fixed charge coverage was 2.9x for the year ended Dec. 31, 2015,
compared to 2.6x in 2014 and 2.7x in 2013.  Fitch defines FCC as
recurring operating EBITDA, less recurring capital expenditures and
straight-line rent adjustments, divided by total cash interest
incurred and preferred dividends.

              PRE-LEASING MITIGATES DEVELOPMENT RISK

Fitch expects Highwoods to increase its development risk exposure
during the next one-to-three years.  HIW has moderately increased
its speculative development starts, primarily adjacent to existing
owned assets with healthy tenant demand.  The company's development
pipeline was 76.8% pre-leased based on total estimated investment
at the end of 2015 compared to 88.9% at Dec. 31, 2014, excluding
developments placed in service.  The company also plans to
selectively replenish its land bank during 2016.

Highwoods had $333 million of unfunded development spending
commitments that comprised 6.1% of gross assets at Dec. 31, 2015,
compared to 6.1% and 3.7% at Dec. 31, 2014 and 2013, respectively.


                   ELEVATED NEAR-TERM MATURITIES

Sixteen percent of the company's debt matures during 2016,
primarily comprised of the $350 million unsecured bridge loan
facility associated with its Monarch Centre and SunTrust Financial
Centre acquisitions completed during 3Q15.  The company plans to
repay borrowings under its bridge loan with a portion of the $660
million of proceeds from its CCP asset sale expected to close on
March 1, 2016.  HIW also has roughly $44 million of consolidated
mortgage maturities that Fitch expects the company to refinance
with unsecured borrowings.  Fitch expects HIW's portfolio will be
100% unencumbered when it repays its last maturing mortgage during
2017.

                     MODERATE LIQUIDITY PRESSURE

Fitch's stressed liquidity analysis shows HIW's sources of
liquidity covering its uses of liquidity by only 0.8x between
Jan. 1, 2016, to Dec. 31, 2017, period (on a pro forma basis
including the sale of CCP), resulting in an approximate $368
million deficit.  Unfunded development expenses of $330 million and
the company's high (63% drawn) revolver utilization rate are the
principal reasons for the shortfall.

Fitch expects the company to bridge the funding gap with asset
sales, unsecured borrowings and equity issuance under the company's
$250 million at-the-market equity program.  HIW's unencumbered
asset pool can provide liquidity in a more challenged capital
markets environment.

The liquidity shortfall is driven in part by a $299 million balance
on the $475 million line of credit at Dec. 31, 2015, that matures
in 2018.  The company's 37% line availability compares with a
median availability of roughly 80% for the office REIT sector at
Dec. 31, 2015.

Highwoods has also maintained higher utilization historically - the
line was 43% drawn on average at the end of each year between 2006
and 2014 compared to roughly 25% for its peers.  Fitch does not
expect the elevated balance to impact credit quality in the near
term given an accommodating capital markets environment and minimal
near-term debt maturities; however, the company is less well
positioned to handle an unanticipated, stressed liquidity
environment similar to late 2008-2009.

                        SOLID INTERNAL GROWTH

Fitch expects HIW's GAAP same store NOI (SSNOI) to increase by 3%
in 2016 and 2% in 2017 and 2018.  The company's 1.4% average SSNOI
growth during the last five years was moderately (+50 bps) higher
than its peers, largely due to its strong (+6.7%) 2015 growth. Over
longer periods, HIW's SSNOI growth has generally trailed CBD
focused office REITs by a small margin, although it has outpaced
many of its suburban office peers.

HIW's occupancy rate averaged 90.7% during the last five years,
which exceeds its market averages (and was slightly above its
peers), suggesting the company's better quality assets are
garnering more than their fair share of demand.  Cash and GAAP rent
spreads have shown mixed trends during the last three years. The
company's cash rent spreads were negative 1%, negative 2% and
negative 7% during 2015, 2014 and 2013, respectively.  GAAP lease
spreads were 10% during 2015, 10% during 2014 and 5% during 2013.

             WEAK DIVIDEND COVERAGE, MODESTLY IMPROVING

The company's AFFO payout ratio improved to 91% during 2015 from
100.5% and 95.3% during 2014 and 2013, respectively.  However, the
payout ratio remains elevated and limits HIW's internally generated
liquidity.

Fitch views reluctance by REITs generally to cut dividends when
AFFO payout ratios are near, or exceed 100% as speaking to
management's investor priorities, recognizing that the REIT
structure requires a careful balancing of investor constituencies.
High payout ratios are only one of many credit metrics, not as
important to credit evaluation as leverage, unencumbered asset
coverage and other liquidity measures.

                          KEY ASSUMPTIONS

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

   -- SSNOI growth of 3% in 2016 and 2% in 2017 and 2018,
   -- Acquisitions of $100 million per year during the 2016 to
      2018 projection period at 6% cap rates,
   -- Dispositions of $150 million per annum through 2018 at an 8%

      cap rate,
   -- Development spending of $150 million during 2016,
      $325 million during 2017 and $100 million during 2018,
   -- Development deliveries of roughly $115 million, $400 million

      and $200 million at 8% yields in 2016, 2017 and 2018,
      respectively,
   -- Capital spending within a range of $100 million to
      $125 million per annum through 2018,
   -- Incremental unsecured debt issuance of $250 million during
      2016, $750 million during 2017 and $500 million during 2018
      at yields of 4%, 4.25% and 4.5%, respectively,
   -- HIW pays a $100MM special dividend during 2016.

                       RATING SENSITIVITIES

These factors may have a positive impact on Highwoods' ratings
and/or Outlook:

   -- Fitch's expectation of leverage sustaining below 5.5x
      (leverage at Dec. 31, 2015 was 6.3x);
   -- Maintaining a fixed charge coverage ratio above 2.5x (fixed
      charge coverage was 2.9x for the year ended Dec. 31, 2015);
   -- Unencumbered asset coverage of unsecured debt assuming a
      stressed 9% cap rate above 2.5x (coverage is currently
      1.5x).

These factors may have a negative impact on the company's ratings
and/or Outlook:

   -- A persistent shortfall in the company's liquidity coverage
      under Fitch's stressed liquidity analysis, in the context of

      Highwoods' historical above peer revolver utilization;
   -- Fitch's expectation of leverage sustaining above 6.5x;
   -- Fitch's expectation of fixed-charge coverage sustaining
      below 2.0x.



HYDROCARB ENERGY: To Hold "Say on Pay" Votes Triennially
--------------------------------------------------------
As previously reported, at the Annual Meeting of Shareholders of
the Company on Sept. 28, 2015, shareholders holding 72.2% of the
total shares eligible to be voted at the Meeting and 92.7% of the
shares voted at the Meeting, voted in favor of holding future
advisory votes on executive compensation of Hydrocarb Energy's
named executive officers every three years.

In light of the voting results with respect to the frequency of
holding a non-binding, advisory vote on executive compensation, and
consistent with the fact that such period received the highest
number of votes cast at the meeting, the Board of Directors has
determined that the Company will hold future non-binding, advisory
votes of stockholders to approve the compensation of the named
executive officers every three years until the next non-binding,
advisory stockholder vote on the frequency of stockholder votes on
executive compensation, scheduled to occur at the Company's 2018
annual meeting of stockholders, or until the Board of Directors
otherwise determines a different frequency for such non-binding,
advisory votes.

                     About Hydrocarb Energy

Hydrocarb Energy, formerly known as Duma Energy Corp, is a
publicly-traded Domestic and International energy exploration and
production company targeting major under-explored oil and gas
projects in emerging, highly prospective regions of the world.
With exploration concessions in Africa, production in Galveston
Bay and Oil Field Services in the United Arab Emirates, the
Company maintain offices in Houston, Texas, Abu Dhabi, UAE and
Windhoek, Namibia.

Hydrocarb Energy reported a net loss of $12.6 million on $3.94
million of revenues for the year ended July 31, 2015, compared to a
net loss of $6.55 million on $5.06 million of revenues for the year
ended July 31, 2014.

As of Oct. 31, 2015, the Company had $26.7 million in total assets,
$26.5 million in total liabilities and $181,000 in total equity.

MaloneBailey, LLP, in Houston, Texas, issued a "going concern"
qualification on the consolidated financial statements for the year
ended July 31, 2015, citing that the Company has suffered recurring
losses from operations, which raises substantial doubt about its
ability to continue as a going concern.


INEOS GROUP: Bank Debt Due 2018 Trades at 4% Off
------------------------------------------------
Participations in a syndicated loan under which Ineos Group Plc is
a borrower traded in the secondary market at 96.04
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.46 percentage points from the
previous week.  Ineos Group pays 275 basis points above LIBOR to
borrow under the $2.617 billion facility. The bank loan matures on
May 2, 2018 and carries Moody's Ba3 rating and Standard & Poor's
BB- rating.  The loan is one of the biggest gainers and losers
among 247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


INEOS GROUP: Bank Debt Due 2022 Trades at 7% Off
------------------------------------------------
Participations in a syndicated loan under which Ineos Group Plc is
a borrower traded in the secondary market at 93.25
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.17 percentage points from the
previous week.  Ineos Group pays 325 basis points above LIBOR to
borrow under the $0.625 billion facility. The bank loan matures on
March 11, 2022 and carries Moody's Ba3 rating and Standard & Poor's
BB- rating.  The loan is one of the biggest gainers and losers
among 247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


INFORMATICA CORP: Bank Debt Trades at 7% Off
--------------------------------------------
Participations in a syndicated loan under which Informatica Corp is
a borrower traded in the secondary market at 92.60
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.30 percentage points from the
previous week.  Informatica Corp pays 350 basis points above LIBOR
to borrow under the $1.875 billion facility. The bank loan matures
on June 1, 2022 and carries Moody's B2 rating and Standard & Poor's
B rating.  The loan is one of the biggest gainers and losers among
247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


INFRAX SYSTEMS: Incurs $63,000 Net Loss in H1 2015
--------------------------------------------------
Infrax Systems, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $63,131 on $0 of revenues for the six months ended Dec. 31,
2015, compared to a net loss of $501,043 on $0 of revenues for the
same period in 2014.  As of Dec. 31, 2015, the Company had $237,404
in total assets, $878,918 in total liabilities and a $641,514 in
total stockholders' deficit.  

The Company's independent auditors resigned on June 29, 2015.  The
reports of DKM Certified Public Accountants on the Company's
financial statements for the past two fiscal years, did not contain
an adverse opinion or a disclaimer of opinion and were not
qualified or modified as to uncertainty, audit scope, or accounting
principles, except that substantial doubt was raised as to the
Company's ability to continue as a going concern.  In connection
with the audits of the Company's financial statements for each of
the two fiscal years ended June 30, 2014, and 2013, and in the
subsequent interim periods, there were no disagreements with DKM
Certified Public Accountants on any matters of accounting
principles or practices, financial statement disclosure, or
auditing scope and procedures which, if not resolved to the
satisfaction of DKM Certified Public Accountants, would have caused
DKM to make reference to the matter in their report.

The Company has not yet engaged a new auditor, and consequently the
Company has not been able to complete an audit of its financial
statements for the year ended June 30, 2015, nor its independent
review of this Form 10Q for the three months ended Dec. 31, 2015.

The Company said it understands that the staff of the Securities
and Exchange Commission has taken the position that this report is
deficient because the quarterly financial statements contained in
this report for the three months ended Dec. 31, 2015, have not been
reviewed by an independent registered public accountant as required
by Rule 10-01(d) of Regulation S-X.  Pursuant to the position taken
by the staff, the Company is deemed not to be current in its
filings required under the Securities Exchange Act of 1934, as
amended.  The Company understands that completion of an audit of
its annual financial statements and the filing of an amendment will
make this report current.  When the review is complete, the Company
said it will file an amendment to this report which will include
the required certifications of the Company's principal executive
officer and principal financial and accounting officer as required
by Sections 302 and 906 of the Sarbanes-Oxley Act.

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

                      http://is.gd/goMLf8

                      About Infrax Systems

St. Petersburg, Fla.-based Infrax Systems, Inc., engages in the
design, development, systems integration, and manufacture of
turnkey secure solutions for the utility industry.

The Company reported a net loss of $501,000 on $16,000 of total
revenue for the quarter ended Sept. 30, 2014, compared with a net
loss of $559,000 on $65,200 of total revenue for the same period in
2013.


INTERNATIONAL TECHNICAL: Panel May Hire Conflicts Counsel
---------------------------------------------------------
The Official Committee of Unsecured Creditors received the green
light to retain the Law Offices of Michael W. Carmel, Ltd. as its
conflicts counsel.

Michael W. Carmel, the principal, is the sole attorney associated
with the Carmel Firm.  Mr. Carmel has practiced in the area of
bankruptcy and restructuring for more than 30 years and has
frequently represented debtors and trustees in chapter 11 cases in
Arizona.

As reported by the Troubled Company Reporter, the Carmel Firm has
arranged to represent the Committee as conflicts counsel with
respect to matters relating to Bank of America, N.A., and such
other matters for which the Committee may require conflicts
counsel.

The Carmel Firm will charge for professional fees at hourly rates
customarily charged by the Carmel Firm for the services of the
professionals involved, and will seek reimbursement for costs and
expenses incurred in representing the Committee.  Mr. Carmel will
charge $550 per hour.

The Carmel Firm has received no an advance retainer from the
Committee in the Chapter 11 case.

Mr. Carmel attests that his firm does not represent or hold any
interest adverse to the Debtor, the Committee, or the estate with
respect to the matters on which the firm is to be employed.

                   About International Technical

International Technical Coatings, Inc. is a Phoenix, Arizona-based
steel wire manufacturer.  It has facilities located in Phoenix,
Arizona and Columbus, Ohio.

ITC filed a Chapter 11 bankruptcy petition (Bank. D. Ariz. Case No.
15-14709) on Nov. 18, 2015.  John Caldwel, the chairman, signed the
petition.  Judge Madeleine C. Wanslee is assigned the case.

Bank of America Bank, N.A., which is owed more than $25.7 million
in outstanding matured, defaulted loan obligations, applied for the
appointment of a receiver over ITC on Oct. 28, 2015.  The Maricopa
County Superior Court held an initial hearing on the matter on Nov.
4.  A final hearing on the appointment of a receiver was scheduled
for Nov. 18 at 1:30 p.m.  Unable to secure an agreement with the
Bank prior to the scheduled hearing, ITC filed for Chapter 11
protection.

In its petition, the Debtor estimated assets of $50 million to $100
million and liabilities of more than $10 million.

The Debtor tapped Osborn Maledon, P.A., as bankruptcy counsel.
Morris Anderson & Associates, Ltd. serves as its financial
advisor.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Stinson Leonard Street,
LLP represents the committee.  The Law Offices of Michael W.
Carmel, Ltd. serves as its conflicts counsel. The Committee
retained KRyS Global, USA, as its financial advisor.

Secured creditor Bank of America is represented by Robert J.
Miller, Esq., Kyle S. Hirsch, Esq., and Amanda L. Cartwright, Esq.,
at Bryan Cave LLP.


INTERNATIONAL TECHNICAL: Panel Questions Dinsmore Hiring
--------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 case of International Technical Coatings, Inc., asks the
Bankruptcy Court in Arizona to deny the Debtor's request to employ
Dinsmore & Shohl, LLP as special counsel, due to potential
conflicts of interest.

The Debtor seeks authority to employ Dinsmore as its Special
Counsel to resolve its dispute with Miriam Solorio Vargas, the
widow of the decedent Andres Solorio Vargas.  The Committee,
however, tells the Court that the firm's Michael L. Squillace --
mike.squillace@dinsmore.com -- was already employed by the Debtor's
wholly owned subsidiary ITC Manufacturing, LLC, prior to the
Petition Date to "assist ITC Manufacturing with the defense" of the
Vargas claim.

Mr. Squillace's relationship is with ITCM and not the Debtor, the
Committee contends.  The panel also points out that a settlement
has been reached in the lawsuit between Vargas and ITCM in Ohio,
and that settlement was fully completed prior to the Petition
Date.

The Dinsmore's Application "appears to be an attempt to use estate
funds to pay the separate pre-petition obligations of ITCM as an
administrative claim in the Debtor's bankruptcy case," the
Committee observes.

"It is entirely unclear what additional services Dismore would be
performing for the estate."

Vargas worked (and was mortally injured) at the ITCM facility, but
was employed through a staffing agency by the name of Minute Men
Staffing.  

"This Debtor's estate is not the legal party to this matter, and
using the assets of this estate for payment of a non-debtor
subsidiary is not appropriate as it diminished assets available to
creditors of this estate," the Committee said.

In its application, the Debtor said it wants to employ Dinsmore
nunc pro tunc to the date of the petition as counsel for the
Debtors for the limited purpose of assisting them respecting the
Debtor's dispute with Miriam Solorio Vargas related to Claim
15-819501 filed before the Ohio Bureau of Workers' Compensation.
The Employment Application was filed with the Bankruptcy Court on
Feb. 4, 2016.

ITC and Vargas have entered into settlement negotiations and
ultimately executed a Settlement Agreement on November 16, 2015.
In exchange for $50,000, ITC obtained a broad release from Ms.
Vargas.

Dinsmore will seek fee compensation from the estates of the Debtor
for services rendered in accordance with their hourly rates.
Dinsmore provided pre-petition services to the Debtor and has been
paid in accordance for time billed through November 30, 2015, the
amount of $2,376.  Dinsmore is currently owed approximately
$4,731.38 for pre-petition services provided to ITC.

The Debtor has not paid Dinsmore a retainer.

The Debtor said Mr. Squillace represents no interest adverse to the
estate respecting the matters for which it is to be engaged, but is
owed the $4,731.38 for pre-petition services provided to the
Debtor

The Panel also noted that neither the Dinsmore Retention Letter nor
the Ohio Complaint giving rise to the Vargas Settlement Agreement
-- also seeking to be approved through separate application by the
Debtor -- were actually attached to the Dinsmore Application and
were produced only after request for these fundamental documents.

"It is disappointing," the Committee tells the Court.

"Apparently not even Debtor's counsel was aware that Dinsmore was
already engaged by ITCM. The Committee has continued concerns about
the transparency of this Debtor under [John] Caldwell's direction,"
the Committee added.

Mr. Caldwell is the Debtor's chairman.

                   About International Technical

International Technical Coatings, Inc. is a Phoenix, Arizona-based
steel wire manufacturer.  It has facilities located in Phoenix,
Arizona and Columbus, Ohio.

ITC filed a Chapter 11 bankruptcy petition (Bank. D. Ariz. Case No.
15-14709) on Nov. 18, 2015.  John Caldwel, the chairman, signed the
petition.  Judge Madeleine C. Wanslee is assigned the case.

Bank of America Bank, N.A., which is owed more than $25.7 million
in outstanding matured, defaulted loan obligations, applied for the
appointment of a receiver over ITC on Oct. 28, 2015.  The Maricopa
County Superior Court held an initial hearing on the matter on Nov.
4.  A final hearing on the appointment of a receiver was scheduled
for Nov. 18 at 1:30 p.m.  Unable to secure an agreement with the
Bank prior to the scheduled hearing, ITC filed for Chapter 11
protection.

In its petition, the Debtor estimated assets of $50 million to $100
million and liabilities of more than $10 million.

The Debtor tapped Osborn Maledon, P.A., as bankruptcy counsel.
Morris Anderson & Associates, Ltd. serves as its financial
advisor.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Stinson Leonard Street,
LLP represents the committee.  The Committee retained KRyS Global,
USA, as its financial advisor.

Secured creditor Bank of America is represented by Robert J.
Miller, Esq., Kyle S. Hirsch, Esq., and Amanda L. Cartwright, Esq.,
at Bryan Cave LLP.


JTS LLC: Plan Disclosures Hearing Moved to March 14
---------------------------------------------------
The hearing to consider approval of the disclosure statement
explaining JTS, LLC's Amended Chapter 11 Plan has been rescheduled
to March 14, 2016, at 9:30 a.m.  Judge Gary Spraker has ordered the
Debtor to file a status report by Feb. 29.

The hearing on the Debtor's First Amended Disclosure Statement was
originally scheduled for Jan. 20 but was continued to Jan. 27, then
to Feb. 3 and then to March 14 at the request of the Debtor.

In seeking the latest extension, the Debtor said it is still in
discussions with a possible lessee who may be interested in all of
the available space on a long term basis.  These discussions are
proceeding more slowly than the Debtor expected, and the Debtor has
not received a specific lease proposal but still expects to hear
very soon, one way or the other.

The Debtor has advised other counsel by email of the need for a
continuance and the approximate schedule and has received no
objection.

By the next hearing, the Debtor expects to be able to advise the
Court whether it wants to proceed with the First Amended Disclosure
Statement and Plan or will instead be revising the plan in light of
a likely lease of the property.

                        The Chapter 11 Plan

The Debtor filed its original Plan of Reorganization and Disclosure
Statement on Oct. 27, 2015.  On Dec. 18, 2015, it filed an Amended
Plan and an Amended Disclosure Statement.  A copy of the First
Amended Disclosure Statement is available for free at:

    http://bankrupt.com/misc/JTS_LLC_205_Am_DS.pdf

The Debtor is proposing a Chapter 11 plan that contemplates selling
the property located at 3330 Denali St. in Anchorage, Alaska, in
order to pay off claims.  According to the Plan, the Debtor’s
Denali Street property was recently appraised at a value of
$11,930,000.

JTS' secured creditors are its lenders Northrim Bank and the U.S.
Small Business Association and the tire manufacturers, Maxxis
International and Continental Tire the Americas.  The values of
secured claims on the bankruptcy filing date were: Northrim Bank
and SBA: $9,663,129; Cooper Tire & Rubber Company: $347,866;
Continental Tire: $142,616; Maxxis: $90,919.  Cooper Tire has been
paid in full through port-petition sales, and on the Effective Date
the secured claims should be reduced to approximately $9.6 million
in total.

Unsecured Claims are estimated at $2.5 million.

Under the Plan, Northrim Bank's real estate loan will be paid in
accordance with the loan documents until the Denali Property is
sold, at which time the loan will be paid in full with non-default
interest.  Northrim Bank's equipment loan will receive no monthly
payments until the Denali Property is sold, at which time the loan
shall be paid in full, including non-default interest; however, if
the Debtor sells any equipment on which Northrim Bank has a first
priority lien, the Debtor will pay 60% of the net proceeds of sale
to the bank to be applied on this loan.  Northrim Bank's Line of
Credit will receive no payments until the Denali Property is sold,
at which time the loan will be paid in full, including non-default
interest and attorney's fees and costs.
Evergreen (SBA)'s Loan will receive no payments until the Denali
Property is sold, at which time the loan will be paid in full,
including non-default interest and attorney's fees and costs.

As to Maxxis International's claim and the Continental Tires'
claim, any balance remaining on the claims as of the Effective Date
of the Plan will be paid by payment to the creditor of 50% of the
gross sale proceeds of the tires on which the creditor has a lien,
with such payments to be made within ten days of the sale.

Holders of unsecured claims will receive an initial distribution
and a possible subsequent distribution.  The first distribution to
the class shall be made 30 days following the closing of the sale
of the Debtor's property at 3300 Denali St, Anchorage, and will be
the greater of $300,000 or 50% of the net proceeds of sale of the
property.  The holders of these claims should recover approximately
28% of the amount of the claim.

Pursuant to the Plan, Kelly Gaede, the sole equity owner, will
surrender his interest on the effective date and no longer be an
owner of the Debtor.  Gaede is serving as manager and is being paid
$14,000 per month.

The original iteration of the Disclosure Statement provided that
the source of payments under the Plan will be funded from cash on
hand, ongoing revenue, sale of the Denali Street Property, and a
$500,000 loan to be obtained from DIP Lending, LLC.  

H. Watt & Scott, Inc., filed an objection complaining that the
Disclosure Statement, among other things, is void of any
verification or proof that the Debtor will obtain a loan of
$500,000 from any source.

                         Changes in Plan

After filing a Plan in October, the Debtor sought a Dec. 18
extension to file an Amended Plan and Disclosure Statement.

The Debtor explained that at the settlement conference on Dec. 8 an
agreement was reached under which the Debtor agreed to vacate the
Wasilla and Eagle River properties by Feb. 29, 2016.  This will
require a re-evaluation of the Debtor’s operating plan for 2016;
even though the Debtor still plans to sell the Denali property it
does want to continue operations at that location at least until
the property is sold, and it is possible the Debtor will seek to
sublease more of the property in order to increase revenue.
Accordingly, the Debtor said it needs to revise its projections and
its proposal for payments to unsecured creditors

Attorney for the Debtor:

         David H. Bundy, Esq.
         DAVID H. BUNDY, P.C.
         310 K Street, Suite 200
         Anchorage, AK 99501
         Tel: (907) 248-8431

Attorneys for H. Watt & Scott, Inc., et al., the so-called Judgment
Creditors:

         Michelle Boutin, Esq.
         RCO LEGAL– ALASKA, INC.
         911 W. 8th Avenue, Suite 200
         Anchorage, AK 99501
         Tel: 907-754-9900
         Fax: 907-334-5858

                            About JTS

JTS, LLC, d/b/a Johnson's Tire Service, a privately held single
member LLC owned by Kelly Gaede, is one of the largest family owned
and operated independent tire dealer and auto repair companies in
Alaska. The company provides three main services: (i) new tires
(ii) tire change over (iii) automotive repair. With corporate
headquarters in Anchorage, JTS, LLC currently operates three
locations across the Anchorage Metro area which services a combined
population of 400,000 in the communities of Anchorage, Eagle River
and Wasilla. The Eagle River and Wasilla locations are scheduled to
close by Feb. 29, 2016.

JTS, LLC sought Chapter 11 protection (Bankr. D. Alaska Case No.
15-00167) in Anchorage, Alaska, on June 15, 2015.  JTS estimated
$10 million to $50 million in assets and debt.

The Debtor tapped David H. Bundy, Esq., at David H. Bundy, PC, in
Anchorage, as counsel.  The Debtor also engaged BDO, LLP as
accountants to prepare income tax returns; Newhouse & Vogler as
accountants to audit the Debtor's 2014 financial statement; and
Gary Petros, a real estate agent with Jack White Commercial to list
and sell the Debtor's property at 3300 Denali St, Anchorage.


JTS LLC: Stipulation on Cash Use Until March 31 Approved
--------------------------------------------------------
Judge Gary Spraker in January approved a stipulation authorizing
JTS, LLC to use Northrim Bank's cash collateral through March 31,
2016.  At the hearing on January 8, the Debtor and Northrim agreed
that the monthly payment to Northrim for the period covered by the
stipulation will be $43,814, which includes the monthly tax escrow
deposit of $9,797.

                            About JTS

JTS, LLC, d/b/a Johnson's Tire Service, a privately held single
member LLC owned by Kelly Gaede, is one of the largest family owned
and operated independent tire dealer and auto repair companies in
Alaska. The company provides three main services: (i) new tires
(ii) tire change over (iii) automotive repair. With corporate
headquarters in Anchorage, JTS, LLC currently operates three
locations across the Anchorage Metro area which services a combined
population of 400,000 in the communities of Anchorage, Eagle River
and Wasilla. The Eagle River and Wasilla locations are scheduled to
close by Feb. 29, 2016.

JTS, LLC sought Chapter 11 protection (Bankr. D. Alaska Case No.
15-00167) in Anchorage, Alaska, on June 15, 2015.  JTS estimated
$10 million to $50 million in assets and debt.

The Debtor tapped David H. Bundy, Esq., at David H. Bundy, PC, in
Anchorage, as counsel.  The Debtor also engaged BDO, LLP as
accountants to prepare income tax returns; Newhouse & Vogler as
accountants to audit the Debtor's 2014 financial statement; and
Gary Petros, a real estate agent with Jack White Commercial to list
and sell the Debtor's property at 3300 Denali St, Anchorage.


KALOBIOS PHARMACEUTICALS: Wants Quick OK to Buy Chagas Drug Rights
------------------------------------------------------------------
Vince Sullivan at Bankruptcy Law360 reported that KaloBios
Pharmaceuticals Inc. filed a motion Ton Feb. 23, 2016, in Delaware
court seeking rapid approval of a bid to buy the rights to a
treatment for Chagas disease in an effort to create a new revenue
stream potentially worth hundreds of millions of dollars for the
company.  KaloBios has been negotiating with Savant Neglected
Disease LLC since December to purchase the rights to the drug,
Benznidazole, from privately-held Savant Neglected Diseases LLC for
an upfront payment of $2 million, regulatory milestones and a
royalty based on product sales.

                 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.


KAR AUCTION: S&P Assigns 'BB' Rating on New Credit Facility
-----------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' issue-level
rating and '2' recovery rating to KAR Auction Services Inc.'s new
credit facility (consisting of a senior secured term loan B-3 due
2023 and a revolver due 2021).  The '2' recovery rating indicates
S&P's expectation for substantial (70%-90%; lower half of the
range) recovery in the event of a payment default.

All of S&P's other ratings on KAR are unchanged.

The company is undertaking this refinancing in order to extend its
debt maturities and to provide additional financial flexibility.
KAR Auction's term loan B-2 due 2021 will remain outstanding.

After the company completes its refinancing, S&P will withdraw all
of its ratings on KAR Auction Services' term loan B due 2017 and
revolving credit facility due 2019.

S&P's 'BB-' corporate credit rating on KAR is based on S&P's
aggressive assessment of the company's financial risk profile,
which reflects its positive but somewhat volatile free operating
cash flow.  S&P assess the company's business risk profile as fair
to reflect its established positions in the whole-car and salvage
auction markets, which are somewhat mitigated by its business
concentration in North America and its strategic focus on growing
through acquisitions.

RATINGS LIST

KAR Auction Services Inc.
Corporate Credit Rating                BB-/Stable/--

New Ratings

KAR Auction Services Inc.
Sr Secd Trm Ln Due 2023                BB
  Recovery Rating                       2L
Revolver Due 2021                      BB
  Recovery Rating                       2L


LEVEL 3: Laurinda Pang No Longer Serves as EVP and CAO
------------------------------------------------------
In connection with being named Regional President, North America
and Asia Pacific, Ms. Laurinda Y. Pang, a named executive officer
of Level 3 Communications, Inc., is no longer Level 3's executive
vice president and chief administrative officer.

                  About Level 3 Communications

Headquartered in Broomfield, Colorado, Level 3 Communications,
Inc., is a publicly traded international communications company
with one of the world's largest communications and Internet
backbones.

                           *     *     *

In September 2015, Fitch Ratings has upgraded the Issuer Default
Rating (IDR) assigned to Level 3 Communications, Inc. (LVLT) and
its wholly owned subsidiary level 3 Financing, Inc. (Level 3
Financing) to 'BB-' from 'B+'.  The rating action recognizes LVLT's
strengthening financial and operating profile as the company
completes the integration of tw telecom, Inc.

In June 2013, Standard & Poor's Ratings Services raised its
corporate credit rating on Level 3 to 'B' from 'B-'.  "The upgrade
reflects improved debt leverage, initially from the acquisition of
the lower-leveraged Global Crossing in October 2011, and
subsequently from realization of the bulk of what the company
expects to eventually be $300 million of annual operating
synergies," said Standard & Poor's credit analyst Richard
Siderman.

As reported by the TCR on Aug. 17, 2015, Moody's Investors Service
upgraded Level 3 Communications, Inc.'s corporate family rating
(CFR) to Ba3 from B2.  Level 3's Ba3 CFR is based on the company's
solidifying business and financial profiles as it integrates the
former tw telecom, inc., with Moody's anticipating continued margin
improvement as synergies are realized, and as higher margin
Internet Protocol-based services replace legacy services.


LIGHTSQUARED INC: 2nd Circuit Questions Valuation of Start Up
-------------------------------------------------------------
Jonathan Randles at Bankruptcy Law360 reported that the Second
Circuit on Feb. 18, 2016, questioned whether the New York
bankruptcy judge that oversaw the restructuring of LightSquared did
a proper valuation on the wireless startup before approving its
Chapter 11 plan last year.  Debate over whether LightSquared's plan
was properly approved by the bankruptcy court came during a hearing
in Manhattan over an appeal brought by the company's former chief
executive, Sanjiv Ahuja, who had his shares in the business wiped
out under the Chapter 11 plan.

                  About LightSquared Inc.

LightSquared Inc. and 19 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. S.D.N.Y. Lead Case No. 12-12080) on
May 14, 2012, as the Company seeks to resolve regulatory issues
that have prevented it from building its coast-to-coast integrated
satellite 4G wireless network.

LightSquared had invested more than $4 billion to deploy an
integrated satellite-terrestrial network.  In February 2012,
however, the U.S. Federal Communications Commission told
LightSquared the agency would revoke a license to build out the
network as it would interfere with global positioning systems used
by the military and various industries.  In March 2012, the
Company's partner, Sprint, canceled a master services agreement.
LightSquared's lenders deemed the termination of the Sprint
agreement would trigger cross-defaults under LightSquared's
prepetition credit agreements.

LightSquared and its prepetition lenders attempted to negotiate a
global restructuring that would provide LightSquared with
liquidity and runway necessary to resolve its issues with the FCC.
Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Despite working diligently and in good faith, however,
LightSquared and the lenders were not able to consummate a global
restructuring on terms acceptable to all interested parties.

Lawyers at Milbank, Tweed, Hadley & McCloy LLP serve as counsel to
the Debtors.  Alvarez & Marsal North America, LLC, is the
financial advisor.  Kurtzman Carson Consultants LLC serves as
claims and notice agent.

                          *     *     *

Bankruptcy Judge Shelley C. Chapman in late March 2015, approved
LightSquared Inc.'s Chapter 11 reorganization plan.  As previously
reported by The Troubled Company Reporter, the Debtors, in
December, filed a joint plan and disclosure statement, which
contemplate, among other things, (A) new money investments by the
New Investors in exchange for a combination of preferred and
common equity, (B) the conversion of the Prepetition LP Facility
Claims into new second lien debt obligations, (C) the repayment in
full, in cash, of the Inc. Facility Prepetition Inc. Facility
NonSubordinated Claims immediately following confirmation of the
Plan, (D) the payment in full, in cash, of LightSquared's general
unsecured claims, (E) the provision of $1.25 billion in new money
working capital for the Reorganized Debtors, (F) the assumption of
certain liabilities, (G) the resolution of all inter-Estate
disputes, and (H) the contribution by Harbinger of the Harbinger
Litigations.


LIQUIDMETAL TECHNOLOGIES: Grants Stock Options to Executives
------------------------------------------------------------
The Board of Directors of Liquidmetal Technologies, Inc. made
annual option grants under the Company's 2015 Equity Incentive Plan
to certain executive officers and to five non-employee directors,
according to a Form 8-K filed with the Securities and Exchange
Commission.

Options were granted to Thomas Steipp, the Company's president and
chief executive officer, to purchase 4,300,000 shares of Company
common stock.  Options were granted to Tony Chung, the Company's
chief financial officer, to purchase 1,500,000 shares of Company
common stock.  Options were granted to Bruce Bromage, the Company's
executive vice president of Business Development and Operations, to
purchase 1,500,000 shares of common stock.  Lastly, options were
granted to each of the Company's five non-employee directors to
purchase 400,000 shares of common stock each.

All of the foregoing option grants have an exercise price of $0.07
per share and will expire 10 years from the date of grant unless
they terminate earlier upon a termination of service.  The shares
covered by the Option will vest 20% on the first year anniversary
date from the date of grant.  Thereafter, the shares covered by the
Option will vest monthly over 4 years with the Option being 100%
vested on the fifth anniversary of the date of grant.

                About Liquidmetal Technologies

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

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

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

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


LWP CAPITAL: Provides Update on Liquidation Proceedings
-------------------------------------------------------
LWP Capital Inc., by KSV Advisory Inc., in its capacity as the
Court-appointed liquidator of LWP (the "Liquidator"), on Feb. 23
disclosed that it has received an objection notice (the "Objection
Notice") from The Scoular Company (the "Purchaser") objecting to
the Company's calculation of the Closing Working Capital set out in
the Company's Closing Statement delivered pursuant to Section
2.7(3) of the Asset Purchase Agreement dated September 14, 2015,
entered into among the Purchaser, the Company and certain
wholly-owned subsidiaries of LWP, as amended (the "Asset Purchase
Agreement").

The Liquidator provides the following update on this matter:

   -- The calculation prepared by the Purchaser contemplates a
downward adjustment to the purchase price of approximately CAD$19
million;

   -- The Liquidator intends to provide an update once the Closing
Working Capital has been definitively determined;

   -- If the Closing Working Capital is not definitively determined
in a manner that is favorable to the Company, the funds available
for distribution to shareholders may be materially less than the
range of CAD$1.69 to CAD$1.98 per share disclosed in the Company's
press release dated November 23, 2015; and

   -- The Purchaser's Objection Notice may not address all
adjustments or claims which the Purchaser may advance under the
Asset Purchase Agreement and/or the Court supervised claims process
which is presently being administered by the Liquidator.  The
results of the claims process will be made available by the
Liquidator following the claims bar date of March 15, 2016.

All Court materials filed and updates on the status of the
liquidation proceedings will be available on the Liquidator's
website at www.ksvadvisory.com

LWP Capital Inc, previously Legumex Walker Inc (LWI) is a
Canada-based processor and merchandiser of food.  The Company's
processing facilities are located in the Canadian Prairies,
American Midwest and China.  The Company operates through two
segments Oilseed Processing and Corporate.  The Oilseed Processing
segment consists of an 84 % interest in Pacific Coast Canola LLC
(PCC), a canola oilseed processing facility in the State of
Washington in the United States.  The Corporate segment consists of
costs related to executive, finance, treasury, human resources,
legal, information technology, governance, professional fees and
other corporate development costs.


MALIBU LIGHTING: Can Hire J. Eisch as Accountants
-------------------------------------------------
Malibu Lighting Corporation, et al., sought and obtained authority
from the Bankruptcy Court to employ J. Eisch & Associates, P.C., as
their accountants, nunc pro tunc to October 8, 2015.

J. Eisch will perform services for the Debtors in connection with
the preparation of those portions of the Consolidated Federal
Return and 2015 Combined Texas Franchise tax return relating to the
Debtors, as well as to prepare the state corporate income tax and
franchise tax returns for Debtor Outdoor Direct Corporation (ODC)
for the states of Texas, Mississippi, and Louisiana for the fiscal
year ended February 28, 2015, the Louisiana tax return for Smoke 'N
Pit Corp. for the fiscal year ended February 28, 2015, and the
California income tax return for Debtor National Consumer Outdoors
Corporation (NCOC).

Eisch's current customary hourly rates, subject to change from time
to time, range from $40 per hour for clerical employees to $225 for
certified public accountants.

The Debtors are looking at allocating Eisch's fees among themselves
as follows:

   -- 55% payable by Debtor ODC,
   -- 28% payable by Debtor NCOC, and
   -- 17% payable by Debtor MLC.

Eisch has received, prepetition, $42,500 from the Debtors as a
retainer.

Jan Eisch, president of J. Eisch & Associates, assures the
Bankruptcy Court that the Firm is a "disinterested person" within
the meaning of Section 101(14) of the Bankruptcy Code.

                      Amended Scope of Services

Subsequently, the Debtors sought an expansion of Eisch's services.

Accordingly, in a Feb. 22, 2016 ruling, Judge Kevin Gross modified
the Initial Retention Order to increase the scope of Eisch's
employment to include Eisch's review and reconciliation of claims
against the Debtors for unpaid sales, income, franchise, and annual
report taxes.

The Initial Retention Order is further modified to increase the
scope of Eisch's employment to include Eisch's preparation of the
Debtors' fiscal year (02/29/2016) tax returns and any local tax
reporting, including personal property and sales and use taxes, as
they come due.

Compensation for the Additional Services will be on the same terms
as Eisch's initial engagement.

                      About Malibu Lighting

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

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

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

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

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

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

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


MEDICURE INC: Tirofiban HCl Analysis Presented at CRT Conference
----------------------------------------------------------------
Medicure Inc. announced that a study titled "Comparison of
High-Dose Bolus Tirofiban With Other Anticoagulation Strategies for
Percutaneous Coronary Intervention: A Network Meta-Analysis of
Randomized Controlled Trials" was presented by primary investigator
and lead author, Dr. Michael J. Lipinski, M.D., Ph.D., of the
MedStar Heart and Vascular Institute in Washington, DC at the
Cardiovascular Research Technologies (CRT) 2016 conference.

The CRT conference, which concluded February 23 at the Omni
Shoreham Hotel in Washington, DC, is one of the leading educational
forums on new cardiovascular technology and procedures for
physicians and health care professionals.

The study was selected as a late-breaking iMPACT Trial at the CRT
conference.  iMPACT Trials are those studies selected to be
innovative and providing the latest breakthroughs in clinical
science, and are expected to highlight new improvements in quality
of patient care and significantly "iMPACT" the field of
interventional cardiology.

The investigators pooled data from 41 randomized clinical trials to
perform a network meta-analysis to directly and indirectly compare
different glycoprotein IIb/IIIa inhibitor (GPI) strategies for
percutaneous coronary intervention with a focus on the impact of
High-Dose Bolus (HDB) tirofiban.  A total of 38,645 patients were
included in the analysis (2,654 randomized to HDB tirofiban, 6,752
to abciximab, 1,669 to eptifibatide, 16,500 to heparin, and 11,070
to bivalirudin).  Results of the analysis found that HDB tirofiban
had a significant reduction in all-cause mortality when compared
with both heparin and eptifibatide (Integrilin, Merck & Co., Inc.)
(p


MEMORIAL RESOURCE: S&P Raises Rating on Sr. Unsec. Debt to 'B'
--------------------------------------------------------------
Standard & Poor's Ratings Services raised its issue-level rating on
Houston-based exploration and production (E&P) company Memorial
Resource Development Corp.'s senior unsecured debt to 'B' (same
level as the corporate credit rating) from 'B-'.  At the same time,
S&P removed the rating from CreditWatch where it placed it with
negative implications on Feb. 9, 2016.  S&P simultaneously revised
the recovery rating on this debt to '4', indicating its expectation
of average (30% to 50%; higher end of range) recovery in the event
of a payment default, from '5'.

S&P also affirmed its 'BB-' issue-level rating on the company's
senior secured revolving credit facility and removed the rating
from CreditWatch where S&P placed it with negative implications on
Feb. 9, 2016.  The recovery rating on this debt remains '1',
indicating S&P's expectation of very high (90% to 100%) recovery in
the event of a payment default.

The corporate credit rating on MRD remains 'B'.  The outlook is
positive.

S&P revised its recovery rating and raised its issue-level rating
on MRD's senior unsecured debt based on an increase in the PV-10
valuation of the company's reserves as of year-end 2015, resulting
in higher recovery prospects for the senior unsecured debt.

S&P considers MRD's business risk profile vulnerable.  MRD's
aggressive financial risk profile primarily reflects S&P's
assessment of the company's policy based on its financial sponsor
ownership structure.  S&P characterizes MRD's liquidity as adequate
because S&P expects liquidity sources to exceed uses by at least
1.2x over the next 12 months.

"The positive outlook reflects the likelihood of an upgrade if MRD
successfully expands its reserves size and the percentage of proved
developed reserves to levels more in line with its 'B+' rated
peers, while keeping debt to EBITDA below 5x and FFO to debt above
20% on average," said Standard & Poor's credit analyst Christine
Besset.

S&P could return the rating outlook to stable if it expected debt
to EBITDA to exceed 5x for a sustained period, leading to a
reassessment of the company's financial policy.  This would most
likely occur if the company incurred debt to finance distributions
to its shareholders, acquisitions, or from higher-than-anticipated
capital spending.



METALDYNE CORP: Bank Debt Trades at 5% Off
------------------------------------------
Participations in a syndicated loan under which Metaldyne Corp is a
borrower traded in the secondary market at 94.60
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.70 percentage points from the
previous week.  Metaldyne Corp pays 275 basis points above LIBOR to
borrow under the $1.072 billion facility. The bank loan matures
Oct. 5, 2021 and carries Moody's Ba3 rating and Standard & Poor's
BB+ rating.  The loan is one of the biggest gainers and losers
among 247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


MIDSTATES PETROLEUM: Common Stock Delisted From NYSE
----------------------------------------------------
The New York Stock Exchange LLC filed a Form 25 with the Securities
and Exchange Commission notifying the removal from listing or
registration of Midstates Petroleum Company, Inc.'s common stock.

                   About Midstates Petroleum Company

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

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

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

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

                             *    *    *

In February 2016, Standard & Poor's Ratings Services lowered its
corporate credit rating on U.S.-based oil and gas exploration and
production company Midstates Petroleum Co. Inc. to 'CCC-' from
'CCC+'.  The outlook is negative.

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

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


MIG LLC: Court OKs Rejection of David Lee Contract
--------------------------------------------------
BankruptcyData reported that the U.S. Bankruptcy Court approved
MIG's motion for an order authorizing the Debtors to reject their
employment agreement with David Lee.

As previously reported, "David Lee and Metromedia International
Telecommunications Services (MITS) first entered into an employment
agreement dated as of April 1, 2006, pursuant to which the MITS
agreed to employ Mr. Lee as vice president of Georgian Operations
in exchange for an annual salary of $230,000, subject to certain
adjustments, and certain additional compensation and benefits set
forth therein….The Debtors believe that accruing administrative
expenses, if any, on account of the agreement will not offer any
additional value to their estates and, hence, submit that the
immediate rejection of the agreement nunc pro tunc to Jan. 29,
2016, is appropriate in order to relieve the burden on the Debtors'
estates.  

The agreement imposes an unnecessary burden on the Debtors' estates
without adding any value. In this context, the Debtors, in their
sound and reasonable business judgment, believe that the Agreement
is no longer necessary for the Debtors' business and that its
rejection is in the best interests of the Debtors and their
constituents."

                       About MIG LLC

Formerly operating under the name "Metromedia International Group,
Inc.," MIG LLC -- http://www.migllc-group.com/-- owned and   
operated and sold dozens of companies in diverse industries,
including entertainment, photo finishing, garden equipment and
sporting goods, until the late 1990s.  In 1997 and 1998, MIG
consummated the sale of substantially all of its U.S.-based
entertainment assets and began focusing on expanding into emerging
communications and media businesses.  By 2005, all of MIG's
operating businesses were located in the Republic of Georgia and
operated through its subsidiaries.

MIG LLC and affiliate ITC Cellular, LLC, filed for Chapter 11
bankruptcy protection on June 30, 2014.  The cases are currently
jointly administered under Bankr. D. Del. Lead Case No. 14-11605.
As of the bankruptcy filing, MIG's sole valuable asset, beyond its
existing cash, is its indirect interest in Magticom Ltd.  The
cases
are assigned to Judge Kevin Gross.  MIG LLC disclosed $15.9
million
in assets and $254 million in liabilities.

Headquartered in Tbilisi, Georgia, Magticom is the leading mobile
telephony operator in Georgia and is also the largest telephone
operator in Georgia.  Magticom serves 2.4 million subscribers with
a network that covers 97% of the populated regions in Georgia.
Magticom is owned by International Telcell Cellular, LLC, which is
46% owned by MIG unit ITC Cellular, 51% owned by Dr. George
Jokhtaberidze, and 3% owned by Gemstone Management Ltd.

Formerly known as MIG, Inc., MIG was a debtor in a previous case
(Bankr. D. Del. Case NO. 09-12118). It obtained approval of its
reorganization plan in November 2010.

The Debtors have tapped Greenberg Traurig LLP as counsel, Fox
Rothschild Inc. as financial advisor; Cousins Chipman and Brown,
LLP as conflicts counsel; and Prime Clerk LLC as claims and notice
agent and administrative advisor.  The Debtors have retained
Natalia Alexeeva as chief restructuring officer.

A three-member panel has been appointed in these cases to serve as
the official committee of unsecured creditors, consisting of
Walter
M. Grant, Paul N. Kiel, and Lawrence P. Klamon.


MISSISSIPPI PHOSPHATES: Committee Seeks to Prosecute $1.9MM Suit
----------------------------------------------------------------
The Official Committee of Unsecured Creditors ask the Bankruptcy
Court to allow it standing on behalf of Mississippi Phosphates
Corporation, et al., related to any dispute the Debtor has
regarding the Mississippi Public Service Commission and Mississippi
Power Company.

On June 11, 2015, the Supreme Court of Mississippi issued its
opinion in Miss. Power Co., Inc. v. Miss. Pub. Serv. Comm'n and
Thomas A. Blanton. 168 So. 3d 905 (Miss. 2015).  The case involved
a challenge to rate increases, designated Construction Work In
Progress assessments, which were approved by the Commission for
Mississippi Power.  The relief granted by the Court in Miss. Pub.
Serv. Comm'n took the form of class relief.  Given its status as a
ratepayer, the Debtor is entitled to a refund of monies
attributable to the rate increases allowed by the March 5, 2013
order.

The Debtor advised the Committee of the existence of these funds
and further advised the Committee that the MPC Liquidation Trust
had asserted that the funds at issue constituted a Purchased Asset
now belonging to the MPC Liquidation Trust.

Following the Mississippi Supreme Court entering its opinion in
Miss. Pub. Serv. Comm'n, the MPC Liquidation Trust brought an
adversary proceeding against the Debtor and Mississippi Power.  MPC
Liquidation Trust v. Miss. Phosphates Corp., Adv. Pro. No.:
16-6001-KMS.  In the Adversary Proceeding, the MPC Liquidation
Trust asserts that approximately $1.9 million dollars was paid to
Mississippi Power as a result of improper rate increases and
ordered the Commission to immediately order Mississippi Power to
refund all previously collected Kemper-related rate payments to
Mississippi Power’'s Customers, including MPC.

The Committee sought the Debtor's consent to pursue the funds at
issue on behalf of the Debtor's estate, and the Debtor stated that
it had no objection to the Committee's request to take any and all
actions to recover the funds at issue for the Debtor's estate.  The
Debtor further agreed that as counsel for the Committee prosecuting
for the Debtor's estate, the Committee will have authority to bind
the Debtor's estate.

The Official Committee of Unsecured Creditors is represented by:

     Bess M. Parrish Creswell, Esq.
     Kasee Sparks Heisterhagen, Esq.
     BURR & FORMAN, LLP
     RSA Tower, Suite 22200
     11 North Water Street
     Mobile, Alabama 36602
     Telephone: (251) 344-5151
     Facsimile: (251) 344-9696
     Email: bcreswell@burr.com
            ksparks@burr.com

     -- and –-

     Derek M. Meek, Esq.
     Marc P. Solomon, Esq.
     BURR & FORMAN, LLP
     420 North 20th Street
     Birmingham, Alabama 35203
     Telephone: (205) 251-3000
     Facsimile: (205) 458-5100
     Email: dmeek@burr.com
            msolomon@burr.com

        About Mississippi Phosphates

Mississippi Phosphates Corporation is a major United States
producer and marketer of diammonium phosphate ("DAP"), one of the
most common types of phosphate fertilizer.  MPC, which was formed
as a Delaware corporation in October 1990, owns a DAP facility in
Pascagoula, Mississippi, which was acquired from Nu-South, Inc. in
its 1990 bankruptcy.  Phosphate rock, the primary raw material used
in the production of DAP, is being supplied by OCP S.A., a
corporation owned by the Kingdom of Morocco.

The parent, Phosphate Holdings, Inc., was formed in December 2004
in connection with the bankruptcy reorganization of MPC and its
then-parent Mississippi Chemical Corporation, the first fertilizer
cooperative in the United States.

As of Oct. 27, 2014, MPC has a work force of 250 employees, broken
into 224 regular employees and 26 "nested" third-party contract
employees.

MPC and its subsidiaries, namely Ammonia Tank Subsidiary, Inc., and
Sulfuric Acid Tanks Subsidiary, Inc., sought Chapter 11 bankruptcy
protection (Bankr. S.D. Miss. Lead Case No. 14-51667) on Oct. 27,
2014. Judge Katharine M. Samson is assigned to the cases.

Mississippi Phosphates disclosed in its amended schedules, assets
of $98,949,677 and liabilities of $140,941,276 plus unknown
amounts.  Affiliates Ammonia Tank and Sulfuric Acid Tanks each
estimated $1 million to $10 million in both assets and
liabilities.

The Debtors have tapped Stephen W. Rosenblatt, Esq., at Butler Snow
LLP as counsel.

The U.S. Trustee for Region 5 appointed seven creditors of
Mississippi Phosphates Corp. to serve on the official committee of
unsecured creditors.  The Committee tapped to retain Burr & Forman
LLP as its counsel.


MODULAR SPACE: S&P Affirms 'B-' Rating on Senior Secured Notes
--------------------------------------------------------------
Standard & Poor's Ratings Services revised its recovery rating on
Berwyn, Pa.-based Modular Space Corp.'s senior secured notes to '4'
from '3'.  The '4' recovery rating indicates S&P's expectation for
average (30%-50%; upper half of the range) recovery in the event of
a payment default.

At the same time, S&P affirmed its 'B-' issue-level rating on the
company's senior secured notes.

All of S&P's other ratings on Modular Space Corp. remain
unchanged.

S&P lowered its recovery rating on Modular Space Corp.'s senior
secured notes to reflect S&P's revised assumptions about the
company's usage of its asset-based lending (ABL) revolver and S&P's
expectation that the value of the assets securing the notes will
modestly decrease.  S&P now expects that the company will use about
75% (across the U.S. and Canadian tranche) of its revolver's
committed size (the current amount outstanding), which is
consistent with the level of borrowing that we have seen over the
past year.

S&P expects to resolve the negative CreditWatch placement after the
company successfully extends the maturity of its ABL revolver.
Alternatively, S&P could lower its ratings on Modular Space Corp.
by April 2016 if S&P no longer believes that it will be able to
successfuly refinance its ABL revolver in a timely manner.

                           RECOVERY ANALYSIS

Key analytical factors

   -- S&P's simulated default scenario contemplates a default in
      2018 caused by a downturn in the economy that reduces
      demand, rental rates, and utilization.  These economic
      conditions will likely affect the demand for modular
      structures--particularly for mobile offices and commercial
      construction facilities--although there will likely be a lag

      between the beginning of the downturn and when the company
      starts to see its demand decline.

   -- In addition, the expense and relative difficulty of moving
      the company's assets around will further exacerbate these
      cyclical pressures.  The reduced rental rates and lower
      utilization levels would generate lower revenues and
      earnings, requiring additional draws under the company's ABL

      revolving credit facility and ultimately leading to a
      default.

   -- S&P has valued the company on a discrete asset-going concern

      basis.

Simulated default assumptions

   -- Simulated year of default: 2018

Simplified waterfall

   -- Net enterprise value (after 3% admin. costs): $815 million
   -- Valuation split (domestic/foreign): 70%/30%
   -- Value available to first-lien debt claims
      (collateral/noncollateral): $740 million/$0
   -- Secured first-lien debt claims: $613 million
      -- Recovery expectations: Not rated
   -- Value available to second-lien debt claims
      (collateral/noncollateral):
   -- $127 million/$50 million
   -- Secured second-lien debt claims: $394 million
      -- Recovery expectations: 30%-50% (upper half of the range)
   -- Total value available to unsecured claims: $51 million
   -- Recovery expectations: Not applicable

Note: All debt amounts include six months of prepetition interest.
Collateral value equals asset pledge from obligors after priority
claims plus equity pledge from nonobligors after nonobligor debt.

RATINGS LIST

Modular Space Corp.
Corporate Credit Rating       B-/Watch Neg/--

Rating Affirmed; Recovery Rating Revised
                               To                 From

Modular Space Corp.
Senior Secured Notes          B-/Watch Neg       B-/Watch Neg
  Recovery Rating              4H                 3L


MOLYCORP INC: Reports Breakthrough Settlement With Creditors
------------------------------------------------------------
Jeff Montgomery at Bankruptcy Law360 reported that Molycorp Inc.
outlined terms of a breakthrough settlement with most of its big
creditors on Feb. 23, 2016, setting the stage for a hearing and
vote as early as next month on a sale or restructuring of the
company and its $1.9 billion debt.  The deal, the result of a
month's-long mediation effort by a bankruptcy judge in New York,
averted a planned multi-day trial scheduled to start on March 8,
pitting unsecured creditors against Oaktree Capital Management LP.

                       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.


NATURAL PORK: Consensual Plan Confirmed by Judge
------------------------------------------------
Natural Pork Production II, LLP, and its four subsidiaries have won
confirmation of its Chapter 11 plan after the Debtors filed
modifications to the plan to resolve objections.

The Bankruptcy Court approved the Plan in January 2016.

The Debtor filed a second amendment to the Second Modified Plan
before confirmation.  The Second Amendment is the basis of the
withdrawal of the objections filed by D & G Family Farms Co., Diane
Weihs, Gary Weihs, and R II B FAMILY, LLC.  The objectors had
opposed the treatment of their claims, including the proposed
fractional distributions for their claims while gifting $950,000 to
current shareholders.  They later withdrew their objections
following the latest changes to the Plan.

There was only one ballot cast (a class 10 claim of $53,998) that
rejected the Plan.  That ballot has been withdrawn and a ballot in
favor of the Plan has now been submitted.  As a result, the revised
balloting report says that all creditors in Classes 8, 9, 10, 11
and 12 who have submitted ballots unanimously voted to accept the
Plan.

Accordingly, the Second Modified Plan before Confirmation and the
Second Amendment thereto resulted in a consensual plan.

The Debtor also filed a corrected balloting report and a Final
Second Amendment to Second Modified Plan, which is available for
free at:
  
    http://bankrupt.com/misc/Nat_Pork_887_2nd_Am_2nd_Plan.pdf

"The requirements of 11 U.S.C. section 1129(a) having been
satisfied, the pending Modified Plan and the Final Second Amendment
to Second Modified Plan filed is confirmed," Judge Anita L. Shodeen
ruled.

                     Terms of Liquidating Plan

Earlier in the case, the bankruptcy judge ordered the Debtor, the
Official Committee of Unsecured Creditors and other key parties to
participate in mediation involving the Debtor's plan of
reorganization.  Following mediation, the Debtor submitted a Second
Amended Plan that's being co-proposed by the Creditors Committee
and backed by the Intercreditor Committee and the First National
Bank of Omaha.

Since the Petition Date, the Debtors have liquidated substantially
all of their individual and collective assets, with the exception
of the Windthorst asset, which shall be transferred to Lawrence
Handlos pursuant to the Joint Plan.

Through the liquidation of assets during the pendency of the
Bankruptcy Cases, the Plan Proponents believe the Debtors will have
sufficient Cash on hand to pay all Allowed Secured Creditors in
full, certain Unsecured Creditors in full and certain Unsecured
Creditors paid in part, on the Effective Date of the Joint Plan

Under the Plan, holders of general unsecured claims totaling
$216,520 (Class 8) will be paid at 100% of the allowed claims
without postpetition interest.  Holders of allowed subordinated
unsecured claims totaling $12,835,900 (Class 9) will be paid at 90%
of the allowed claims, less such holder's pro rata share of the
obligation of Class 9 to fund 10% of the Administrative Claim
Overage.  The holders of the allowed unsecured claims of
subordinated note holders who are IC Class Members who are owed in
the aggregate $3,407,604 (Class 11) will receive a total
distribution of 90% of their allowed claims in lieu of receiving
any payment on their buy-sell notes.   Holders of equity interests
(Class 13) will receive a pro rata share of $950,000 based on unit
ownership in Natural Pork.

A copy of the Disclosure Statement for the Second Amended Plan is
available for free at:

    http://bankrupt.com/misc/Natural_P_830_DS_2nd_A_Plan.pdf

Natural Pork Production II, et al.'s attorneys:

          Jeffrey D. Goetz, Esq.
          BRADSHAW, FOWLER, PROCTOR & FAIRGRAVE, P.C.
          801 Grand Avenue, Suite 3700
          Des Moines, IA 50309-8004
          Tel: (515) 246-5817
          Fax: (515) 246-5808
          E-mail: goetz.jeffrey@bradshawlaw.com

The Official Committee of Unsecured Creditors' attorneys:

          Aaron L. Hammer, Esq.
          Mark S. Melickian, Esq.
          SUGAR FELSENTHAL GRAIS & HAMMER LLP
          30 N. LaSalle Street, Ste. 3000
          Chicago, IL 60602
          Tel: (312) 704-9400
          Fax: (312) 372-7951
          E-mail: ahammer@sugarfgh.com
                  mmelickian@sugarfgh.com

Attorney for Gary Weihs, Diane Weihs and D & G Family Famrs Co.

          Nicole Hughes
          TELPNER, PETERSON, SMITH, RUESCH & THOMAS
          25 Main Place, Suite #200
          P. O. Box 248
          Council Bluffs, IA 51502-0248
          Tel: (712) 325-9000
          Fax: (712) 328-1946

Attorney for R II B Family, LLC:

          Dallas J. Janssen, Esq.
          JANSSEN LAW OFFICE
          700 Second Avenue, Suite 103
          Des Moines, Iowa 50309-1712
          Telephone: (515) 274-9161
          Facsimile: (515) 274-1364
          E-mail: DJanssen@dwx.com

                        About Natural Pork

Hog raiser Natural Pork Production II, LLP, filed for Chapter 11
bankruptcy (Bankr. S.D. Iowa Case No. 12-02872) on Sept. 11, 2012,
in Des Moines.  The Company formerly did business as Natural Pork
Production, LLC.  The Debtor disclosed $31.9 million in asset and
$27.9 million in liabilities, including $7.49 million of secured
debt in its schedules.

Crawfordsville, LLC, Brayton, LLC, North Harlan, LLC, and South
Harlan, LLC are wholly-owned subsidiaries of Natural Pork, and they
each filed voluntary Chapter 11 petitions on Dec. 7, 2012.

All five Bankruptcy Cases are not jointly administered or
substantively consolidated pursuant to Bankruptcy Rule 1015, but
the Joint Plan proposes that the cases be substantively
consolidated upon Confirmation.  Therefore, the Natural Pork case
is being designated herein as the Lead Case.

Bankruptcy Judge Anita L. Shodeen oversees the cases.

Donald F. Neiman, Esq., and Jeffrey D. Goetz, Esq., at Bradshaw,
Fowler, Proctor & Fairgrave, P.C., in Des Moines, Iowa, represent
the Debtor as general reorganization counsel.  Attorneys at Davis,
Brown, Koehn, Shors & Roberts, P.C., in Des Moines, Iowa, represent
the Debtor as special litigation counsel.

Attorneys at Sugar, Felsenthal Grais & Hammer LLP, in Chicago,
represent the Official Committee of Unsecured Creditors.  Robert C.
Gainer, Esq. at Cutler Law Firm, P.C., in West Des Moines, Iowa,
represent the Committee as associate counsel. Conway MacKenzie,
Inc., serves as its financial advisor.

Gary W. Koch, Esq., and Michael S. Dove, Esq., represent AgStar
Financial Services, ACA, and AgStar Financial Services, FLCA, as
counsel.

Michael P. Mallaney, Esq., at Hudson Mallaney Schindler & Anderson,
in West Des Moines, Iowa, represents the IC Committee as counsel.


NEIMAN MARCUS: Bank Debt Trades at 15% Off
------------------------------------------
Participations in a syndicated loan under which Neiman Marcus Group
Inc is a borrower traded in the secondary market at 85.33
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.24 percentage points from the
previous week.  Neiman Marcus pays 300 basis points above LIBOR to
borrow under the $2.9 billion facility. The bank loan matures on
Oct. 16, 2022 and carries Moody's B2 rating and Standard & Poor's
N.R. rating.  The loan is one of the biggest gainers and losers
among 247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


NORANDA ALUMINUM: Meeting of Creditors Set for April 13
-------------------------------------------------------
The meeting of creditors of Noranda Aluminum Holding Corp. and its
affiliated debtors is set to be held on April 13, 2016, at 11:00
a.m., according to a filing with the U.S. Bankruptcy Court for the
Eastern District of Missouri.

The meeting will be held at Thomas F. Eagleton U. S. Courthouse,
Suite 21.130, U.S. Attorney Multipurpose Room, 111 South 10th
Street, in St. Louis, Missouri.

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

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

                     About Noranda Aluminum

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

Headquartered in New Madrid, Missouri, Noranda Aluminum, Inc., et
al., engaged in the production of primary aluminum and rolled
aluminum coils, filed separate Chapter 11 bankruptcy petitions
(Bankr. E.D. Mo. Proposed Lead Case No. 16-10083) on Feb. 8, 2016.

The petitions were signed by Dale W. Boyles, the chief financial
officer.  Judge Barry S. Schermer is assigned to the case.

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

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

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


NORANDA ALUMINUM: U.S. Trustee Forms Seven-Member Committee
-----------------------------------------------------------
The Office of the U.S. Trustee appointed seven creditors of Noranda
Aluminum Holding Corp. and its affiliated debtors to serve on the
official committee of unsecured creditors.

The unsecured creditors are:

     (1) Artisan Contracting, LLC
         Attn: Larry E. Frankum
         160 S. Broadview, 3rd Floor
         Cape Girardeau, MO 63703
         573-339-1103 (Phone)
         573-339-0169 (Fax)

     (2) Delaware Trust Co. * co-chair
         Indenture Trustee
         Attn: Ms. Michelle A. Dreyer
         2711 Centerville Rd.
         Wilmington, DE 19808
         877-374-6010 ext. 63503 (Phone)
         302-636-8666 (Fax)

     (3) Mexichem Fluor Comercial, S.A de C.V.
         Attn: Peter Geosits
         4490B ICI Road
         St. Gabriel, LA 70776
         610-662-7716 (Phone)
         610-565-2979 (Fax)

     (4) Pension Benefit Guaranty Corp.* co-chair
         Attn: Thomas Taylor
         1200 K Street, N.W.
         Washington, DC 20005-4026
         202-326-4000 Ext 3303 (Phone)
         202-380-2074 (Fax)

     (5) Rain CII Carbon LLC
         Attn: Kelly Sponheimer
         Ten Signal Road
         Stamford, CT 06902
         203-517-2814 (Phone)
         203-316-0384 (Fax)

     (6) Steward Steel, Inc.
         Attn: Don Moore
         P.O. Box 551
         Sikeston, MO 63801
         573-481-2603 (Phone)
         573-471-2336 (Fax)

     (7) United Steel, Paper and Forestry,
         Rubber, Manufacturing, Energy, Allied
         Industrial and Service Workers International
         Union (United Steelworkers or USW)
         Attn: David R. Jury, Assoc. Gen. Counsel
         60 Boulevard of the Allies, Rm. 807
         Pittsburgh, PA 15222
         412-562-2545 (Phone)
         412-562-2574 (Fax)

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense.  They may investigate the debtor's business and financial
affairs.  Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                     About Noranda Aluminum

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

Headquartered in New Madrid, Missouri, Noranda Aluminum, Inc., et
al., engaged in the production of primary aluminum and rolled
aluminum coils, filed separate Chapter 11 bankruptcy petitions
(Bankr. E.D. Mo. Proposed Lead Case No. 16-10083) on Feb. 8, 2016.

The petitions were signed by Dale W. Boyles, the chief financial
officer.  Judge Barry S. Schermer is assigned to the case.

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

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

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


NW VALLEY: Has Deal Allowing KEH's Claim for $2.15-Mil.
-------------------------------------------------------
NW Valley Holdings LLC asks the Bankruptcy Court to approve a
settlement agreement with Kyle Entity Holdings, LLC, et al.

According to the Debtor, the Proposed Settlement Agreement is in
the best interest of the creditors because it finally resolves
matters with the Debtor's only allowed claim holder, KEH, thereby
taking a big step toward bringing the Chapter 11 Case to a timely
resolution, while also reducing KEH's claim to such a degree so as
to allow an equity distribution in which both if the two main
constituents would share.

The terms of the Settlement Agreement are as follows:

   (a) KEH will compromise all claims against the estate of the
Debtor, including but not limited to any arising from the
Homebuilder Settlement Agreement and Focus Settlement Agreement in
the total amount of $2,150,000 as an allowed general unsecured
claim in the estate subject to further reduction by the $100,000
credit for the Remaining Real Property.

   (b) KEH will pay the Water Deposit to the Debtor.

   (c) KEH will receive the Remaining Real Property for a credit in
the amount of $100,000 against its claim, thus leaving it with only
a $2,050,000 general unsecured claim on a net basis against the
estate after application of this credit.

NW Valley Holdings LLC is represented by:

     Zachariah Larson, Esq.
     Matthew C Zirzow, Esq.
     LARSON & ZIRZOW, LLC
     810 S. Casino Center Blvd., #101
     Las Vegas, Nevada 89101
     Telephone: (702) 382-1170
     Facsimile: (702) 382-1169
     Email: zlarson@lzlawnv.com
            mzirzow@lzlawnv.com

        About NW Valley Holdings

NW Valley Holdings LLC was organized on Feb. 12, 2014, to provide a
vehicle and a process for its managers and members, who were all
homebuilders and other property developers, to group together and
make a joint bid to acquire certain real property consisting of
1,710.86 gross acres located in the City of Las Vegas, Nevada at a
Bureau of Land Management auction, and on which they intended to
develop a master-planned community.  A syndicate of lenders led by
Wachovia Bank, N.A., as administrative agent, agreed to provide
$565,000,000 to finance the acquisition and develop the property.

The great recession and financial crisis of 2007 to 2008 hit.  In
September 2008, a trustee's deed upon sale was recorded, thereby
evidencing the transfer of the property for a credit bid of $5
million to an entity called KAG Property, LLC, as successor to
Wachovia's rights under the loan.  The trustee's deed excluded any
portion of the property "lying within the U.S. Highway 95/Rancho
Drive as it presently exists."  The remaining real property
consists of 6 very small parcels of property directly under or
immediately adjacent to the U.S. Highway 95.

In May 2013, Wells Fargo, successor by merger to Wachovia, sold all
of its rights and interests in the loan and KAG Property to
affiliates of Kyle Partners, LLC.  Kyle Agent, LLC, was named
successor administrative agent.  Kyle Partners owns 89% of the
beneficial interest of any remaining amounts owing under the credit
agreement.

KEH acquired an aggregate 90.41% of the membership interests in the
Company.  The Kimball Hill Trusts hold the remaining 9.59%.

NW Valley Holdings LLC filed a Chapter 11 bankruptcy petition
(Bank. D. Nev. Case No. 15-10116) on Jan. 10, 2015.  The petition
was signed by Charles C. Reardon, senior managing director of
Asgaard Capital, LLC, as manager.  The Debtor disclosed assets of
$815,000 and liabilities of $428 million.  Judge August B. Landis
is assigned to the case.  

On Feb. 27, 2015, the Court authorized the employment of Asgaard
Capital LLC as the Debtor's manager.

The Debtor has tapped Larson & Zirzow, LLC, as general bankruptcy
counsel.  The Debtor also hired Asset Insight of Nevada as real
property appraiser to provide an appraisal of the Remaining Real
Property.  The Debtor has tapped David R. Black, CPA, as its
accountant.


ODEBRECHT OFFSHORE: Moody's Cuts Sr. Bond/Debenture Rating to Caa3
------------------------------------------------------------------
Moody's Investors Service downgraded the rating of the senior
secured global notes due 2022 (the "Notes") issued by Odebrecht
Offshore Drilling Finance Limited ("OODFL") to Caa3 from Caa1, and
maintained a negative outlook.

Downgrades:

-- Issuer: Odebrecht Offshore Drilling Finance Limited

-- Senior Secured Regular Bond/Debenture, Downgraded to Caa3 from

    Caa1

RATINGS RATIONALE

The rating action reflects Moody's opinion that Odebrecht Oil & Gas
("OOG"; not rated), the project sponsor and operator of the
underlying drilling vessels (ODN I, ODN II, Norbe VI and ODN Tay
IV) continues to face significant challenges in the near term in
its attempt to re-contract ODN Tay IV, which had its charter and
services agreements terminated by Petroleo Brasileiro S.A. --
Petrobras on September 22, 2015. Moody's estimates that the lack of
replacement charter and services contracts will continue to exert
pressure on OODFL's liquidity, as will the much shorter period of
coverage of the letters of credit that are part of the Notes'
collateral package. According to OOG's announcement on 19 February
2016, these LCs will be renewed for only 60 additional days
starting on 24 February 2016. Moody's expects that the
deterioration in liquidity will affect OODFL's ability to make
scheduled principal and interest payments in the next 12 months.
The rating action also reflects the uncertainty and lack of
visibility of the ongoing Notes' restructuring process, with an
unclear outcome for Notes' holders.

As per the Notes' indenture, the lack of replacement charter and
services contracts on terms not less favorable than the agreements
that have been terminated, within 90 days of such termination (by
December 22, 2015), could have triggered an event of default and
debt acceleration at the option of the holders of at least 25% of
the aggregate outstanding Notes' principal. Debt acceleration,
however, was avoided through a forbearance agreement entered into
between the issuer and the majority Notes' holders on December 23,
2015.

The negative outlook reflects Moody's view about the difficulties
that OOG will continue to face in its attempts to re-contract ODN
Tay IV given the ongoing challenging environment for oil prices and
drillers worldwide. Moody's expects that the operating environment
in which OODFL's vessels operate will continue to deteriorate. Oil
prices, which have been at historically low levels in the recent
past, have dampened the demand for drilling vessels on a worldwide
basis, severely impacting their ability to re-contract in the event
that Petrobras were to terminate the charter and services
agreements prior to debt maturity. Low oil prices will also
translate into lower day rates in a re-chartered agreement, thereby
affecting operating revenues, cash flows and asset values.

The negative outlook also incorporates Moody's views about
Petrobras' continuing efforts to reduce operating costs and
increase productivity and competitiveness, thus the likelihood of
Petrobras to attempt to re-negotiate charter contracts for lower
day rates, or even terminate these contracts for vessels that have
presented any material operational weaknesses. Petrobras continues
to be the sole off-taker of ODN I, ODN II and Norbe VI, hence the
sole revenue and cash flow source to service OODFL's outstanding
Notes. Moody´s foresees that a potential for reduction in day
rates of ODN I, ODN II or Norbe VI's charter contracts or a
termination of any of their respective charter contracts could have
a material negative impact on OODFL's operating cash flows, hence
on its ability to make scheduled interest and principal payments.
The potential for reduced cash flows also heightens the refinancing
risk given the Notes' high balloon payment at maturity.

What Could Change the Rating Up/Down

Moody's does not anticipate an upward pressure on the rating or
outlook in the near or medium term.

OODFL's rating could be further downgraded if ODN I, ODN II or
Norbe VI's charter and services agreements are re-negotiated at
worse terms or even terminated, or upon a deterioration in the
quality or sufficiency of OODFL's liquidity arrangements, or the
occurrence of any payment acceleration, or a negative outcome for
Note holders from the current and ongoing debt restructuring
negotiations. A downgrade could also occur if there were a
deterioration in: (i) the credit profile of OOG, the operator of
the assets, (ii) OODFL's performance relative to the standards in
the remaining charter agreements with Petrobras, including uptime
performance of ODN I, ODN II or Norbe VI; (iii) the re-contracting
market for offshore vessels; or (iv) Petrobras' rating.

OODFL is a tax-exempted company organized under the laws of the
Cayman Islands and is indirectly owned by OOG.


OUTER HARBOR: Terex Seeks $141K Monthly Payment
-----------------------------------------------
Terex Corporation and Terex Financial Services, Inc., ask the
Bankruptcy Court to direct Outer Harbor Terminal, LLC, to provide
adequate protection of their secured interest in six cranes.

On or about August 2, 2013, the Debtor and Terex Financial
Services, Inc., entered into a Master Note and Security Agreement,
whereby Terex Financial Services, Inc., provided the Debtor with
financing for the purchase of six cranes for use in the Debtor's
business operations.  In exchange, the Debtor granted Terex
Financial Services, Inc. a purchase-money security interest in the
Personal Property.

As of the Petition Date, the Debtor owed Terex at least $7,256,986
for the Personal Property.  Terex estimates the current value of
the Personal Property to be less than the debt owed by the Debtor
to Terex.  Upon information and belief, the Debtor is continuing to
use the Personal Property in its daily business operations and the
value of the Personal Property is declining, Terex tells the
Court.

In light of the foregoing, there is no equity cushion in the
Personal Property, Terex asserts.

Terex asks that the Court, at a minimum, order the Debtor to make
adequate protection payments in the amount of the normal
contractual payment of $141,618 per month on or before the last day
of each month beginning in February 2016.  In addition, Terex asks
the Court to require the Debtor to provide immediate proof that the
Personal Property is adequately insured and that any personal
property taxes have been paid.

Terex Corporation and Terex Financial Services, Inc. are
represented by:

     Stephen M. Miller, Esq.
     MORRIS JAMES LLP
     500 Delaware Avenue, Suite 1500
     Wilmington, Delaware 19801
     Telephone: (302) 888-6800
     Facsimile: (302) 571-1750
     Email: smiller@morrisjames.com

     -- and –-

     Robert S. Westermann, Esq.
     Rachel A. Greenleaf, Esq.
     HIRSCHLER FLEISCHER, P.C.
     The Edgeworth Building
     2100 East Cary Street
     Richmond, Virginia 232218-0500
     Telephone: (804) 771-9500
     Telephone: (804) 644-0957
     Email: rwestermann@hf-law.com
            rgreenleaf@hf-law.com

        About Outer Harbor

Oakland, California-based port operator Outer Harbor Terminal, LLC
filed for Chapter 11 protection (Bankr. D. Del. Case No. 16-10283)
on Feb. 1, 2016.

The Hon. Laurie Selber Silverstein presides over the case.
Milbank, Tweed, Hadley & Mccloy LLP is the Debtor's general
counsel.  Mark D. Collins, Esq., at Richards, Layton & Finger,
P.A., serves as its Delaware counsel.

The Debtor estimated assets and debts at $100 million to $500
million.  The petition was signed by Heather Stack, chief financial
officer.


PACIFIC WEBWORKS: Files for Chapter 11 Protection in Utah
---------------------------------------------------------
Pacific WebWorks, Inc., previously known as Asphalt Associates,
sought Chapter 11 protection (Bankr. D. Utah. Case No. 16-21223) on
Feb. 23, 2016.  It estimated assets and debt of $1 million to $10
million.  Pacific WebWorks operates as an application service
provider and software development company.

The Company is represented by George B. Hofmann of Cohne
Kinghorne.

According to BankruptcyData, concurrent with the petition, the
Company also filed a motion to retain Rocky Mountain Advisory as an
independent contractor to provide management services and appoint
Gil Miller as chief restructuring officer.  

BankruptcyData reports that the Debtor said in court filings that
it determined that an orderly liquidation of its assets and of the
Claims within the scope of this Chapter 11 proceeding is the most
effective means available to maximize returns to the Debtor's
creditors, and also to possibly make a return to the Debtor's
equity security holders.


PARAGON OFFSHORE: Has Interim Authorization to Use Cash Collateral
------------------------------------------------------------------
U.S. Bankruptcy Judge Christopher Sontchi has authorized Paragon
Offshore plc and its affiliated debtors, on an interim basis, to
use cash collateral of JPMorgan Chase Bank, N.A. and Cortland
Capital Market Services LLC through March 20, 2016.  

The Debtors will use the cash collateral to fund their payments to
vendors and employees and to satisfy the other ordinary costs of
operation, including rent, taxes, and insurance.

JPMorgan serves as the administrative agent for the revolver
lenders and collateral agent for the revolver lenders and term loan
lenders.  Cortland Capital Market Services L.L.C. acts as the
proposed successor administrative agent for the term loan lenders.

To protect the prepetition secured parties to the extent of any
aggregate diminution in value of the Prepetition Collateral
resulting from the use of Cash Collateral, the Debtors will provide
various forms of adequate protection, including a first priority
lien on, and security interest in "Unencumbered Property," which
includes approximately $332 million in a Goldman Sachs Bank Account
owned by Paragon Offshore Group plc.

The final hearing on the motion is scheduled on March 9, 2016, at
10:00 a.m. Eastern Time.

                      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.


PARAGON OFFSHORE: U.S. Trustee to Hold 341 Meeting on March 24
--------------------------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, has requested the
Clerk of Bankruptcy Court to schedule a meeting of creditors of
Paragon Offshore plc on March 24, 2016, at 10:00 a.m.

Mr. Vara plans to hold the meeting at J. Caleb Boggs Federal
Building, 2nd Floor, Room 2112, 844 King Street, in Wilmington,
Delaware.

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

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

                      About 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
case.

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.

Judge Christopher S. Sontchi is assigned to the cases.


PICO HOLDINGS: Leder Begins Solicitation Process
------------------------------------------------
By Geoffrey J. Bailey -- gjbaileypb@hotmail.com -- PICO Holdings,
Inc. (Nasdaq:PICO), based in La Jolla, Calif., is a diversified
holding company reporting recurring losses since 2008. PICO owns
57% of UCP, Inc. (NYSE:UCP), 100% of Vidler Water Company, Inc., a
securities portfolio and various interests in small businesses.
PICO has $676 million in assets and $431 million in shareholder
equity. Central Square Management LLC and River Road Asset
Management LLC collectively own more than 14% of PICO and have
agitated for governance and financial changes. Sean Leder owns 1%
of PICO shares and seeks shareholder authorization to call a
Special Meeting to remove and replace five directors. Other
activists at http://ReformPICONow.com/have taken to the Internet
to advance the shareholder cause.

In a DEFN14A filed with the Securities and Exchange Commission on
February 24, 2016, Sean Leder begins the Solicitation Process.
Leder Holdings will mail the Information Packages to PICO Holdings'
shareholders who contact Okapi Partners. In reality, Okapi
Partners,as Information Agent, will order Proxy Intermediary,
Broadridge Financial Solutions, Inc., to mail the Information
Packages, but that is a technical detail. PICO investors can call
Okapi Partners toll free at (855) 208-8901. Ask to speak with Chuck
or Dan.

Electronic voting is not available. Broadridge disallows electronic
voting in contested situations. Shareholders must fill out and
return by standard mail, their Information Packages, including and
especially, the White Request Card.

Leder Holdings will submit the Special Meeting Request Form to PICO
by March 25, 2016.

Activist bloggers at www.reformpiconow.com strongly encourage PICO
shareholders to call Okapi Partners and vote their shares in favor
of Mr. Leder's Special Meeting. There are several important reasons
for their enthusiastic advocacy.

"First, if shareholders do not act now, we can expect two more
years of continued poor corporate governance, wasted shareholder
funds, excessive director compensation and a lower stock price.
Second, Mr. Leder will maximize the value of PICO assets. Third, a
strong showing will send a signal to this Board and will save
shareholder funds. Fourth, non-action or a vote for this Board will
only lead to further entrenchment of a corrupt and incompetent
group of Directors."

Given that entities friendly to the PICO Board hold 1,260,713
shares, the activist bloggers hope to garner the remaining
21,776,874 PICO shares in favor of Mr. Leder's campaign.


PREMIER GOLF: Seeks Approval of Premium Finance Agreement with IPFS
-------------------------------------------------------------------
Premier Golf Properties, LP, seeks authority from the Bankruptcy
Court to enter into a Premium Finance Agreement with IPFS
Corporation of California.

In the ordinary course of its business, the Debtor must maintain
various insurance policies.  The Debtor is, however, unable after
reasonable efforts, to obtain unsecured credit for the payment.

The Agreement would require the Debtor to make a cash payment to
IPFS in the amount of $8,775 and to make nine monthly payments in
the amount of $5,267.  The annual percentage rate is 7.00% with a
finance charge in the amount of $1,353 for a total amount financed
under the Agreement of $46,055.

According to the Debtor, after reasonable efforts engaging in
discussions with various companies in the business of providing
insurance premium financing, the Debtor has determined that IPFS
offers the most advantageous terms for such financing.

IPFS, before the Petition Date, and under the regular course of
business financed the Debtor's Umbrella Insurance coverage.
However, IPFS is requesting for an order for authorization under
Section 364(c) of the Bankruptcy Code in order to continue to
finance Debtor as done in previous years.

The agreement grants IPFS a first priority lien and security
interest in all unearned or return premiums and dividends, which
may become payable under the policies identified in the Agreement,
and a lien and security interest in loss payments, which reduce the
unearned premiums subject only to any mortgagee or loss payee
interests.  The Debtor asks that any deficiency claim of IPFS
remaining in the event that IPFS must proceed against its
collateral be afforded administrative expense priority.

Premier Golf Properties, LP, is represented by:

     Jack F. Fitzmaurice, Esq.
     FITZMAURICE & DEMERGIAN
     1061 Tierra Del Rey, Suite 204
     Chula Vista, California 91910
     Telephone: (619) 591-1000
     Facsimile: (619) 591-1010
     E-Mail: JackF@FitzmauriceLaw.com

        About Premier Golf Properties

Premier Golf Properties, LP filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Cal. Case No. 15-01068) on Feb. 24, 2015.  Daryl Idler
signed the petition as secretary of Premier Golf Property
Management Inc, general partner.  Jack Fitzmaurice, Esq., at
Fitzmaurice & Demergian, represents the Debtor as counsel.

Premier Golf Properties LP disclosed $44,363,923 in assets and
$19,228,427 in liabilities as of the Chapter 11 filing.


QUALITY HOME: S&P Affirms 'B-' CCR, Outlook Stable
--------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B-' corporate
credit rating on Quality Home Brands Holdings LLC (QHB).  The
outlook is stable.

At the same time, S&P revised its recovery rating on QHB's $160
million first-lien term loan due 2018 to '3' from '4', indicating
S&P's anticipation of meaningful (50% to 70%; in the lower half of
the range) recovery in the event of a payment default.  This is a
result of S&P's expectations of continued EBITDA growth stemming
from favorable underlying industry trends, which supports a higher
valuation.  S&P affirmed the 'B-' issue-level rating on the $160
million first-lien due 2018 and 'CCC' issue-level rating on the
company's $70 million senior second-lien term loan due 2019.  The
recovery rating on the $70 million senior second-lien is '6',
indicating S&P's anticipation of negligible (0% to 10%) recovery in
the event of a payment default.

"The corporate credit rating on QHB reflects its narrow product
focus and high leverage," said Standard & Poor's credit analyst
Beverly Correa.

QHB is a niche domestic supplier of residential and commercial
lighting products and ceiling fans distributed through mass market
retailers, electrical distributors, homebuilders, and specialty
showrooms.

The outlook reflects S&P's expectation that QHB will continue to
gradually improve profitability and cash flow as it benefits from a
strengthening U.S. housing market while maintaining at least 15%
EBITDA cushion on its financial maintenance covenants over the next
12 months.


QUANTUM MATERIALS: Stockholders Re-Elects 5 Directors to Board
--------------------------------------------------------------
Quantum Materials Corp. held an annual meeting of its stockholders
on Feb. 17, 2016, at which the stockholders:

   (1) re-elected Stephen Squires, David Doderer, Ray Martin,
       Daniel Carlson and Sriram Peruvemba to the Board of
       Directors;

   (2) approved the 2015 Employee Benefit and Consulting Services
       Compensation Plan; and

   (3) ratified the selection of Weaver & Tidwell, LLP as the
       Company's independent public accountants for 2015.

                    About Quantum Materials

Quantum Materials Corp. and its wholly owned subsidiary, Solterra
Renewable Technologies, Inc. (collectively referred to as the
company) are headquartered in San Marcos, Texas.  The company
specializes in the design, development, production and supply of
quantum dots, including tetrapod quantum dots, a high performance
variant of quantum dots, and highly uniform nanoparticles, using
its patented automated continuous flow production process.

As of Dec. 31, 2015, the Company had $1.46 million in total assets,
$1.35 million in total liabilities and $112,222 in total
stockholders' equity.

Weaver and Tidwell, L.L.P., in an October 13, 2015 report addressed
to the board of directors and stockholders of Quantum Materials
Corp., expressed substantial doubt about the company's ability to
continue as a going concern.  The firm audited the consolidated
balance sheets of the company as of June 30, 2015 and 2014, and the
related consolidated statements of operations, stockholders' equity
(deficit), and cash flows for each of the years in the two-year
period ended June 30, 2015.  The independent auditor noted that the
Company has suffered recurring losses from operations and has an
accumulated deficit that raises substantial doubt about its ability
to continue as a going concern.


QUIKSILVER INC: Hired KPMG LLP as Audit Advisors
------------------------------------------------
Quiksilver Inc. and its debtor affiliates, early on in their
bankruptcy cases, sought and obtained the Bankruptcy Court's
permission to hire KPMG LLC as accounting and internal audit
advisors nunc pro tunc to the Petition Date.

KPMG has provided and will continue to provide these services:

Accounting Advisory Services:

(a) Assistance with planning an approach, consideration of
     alternatives, research, analysis, implementation and
     documentation related to accounting and report the emergence
     from chapter 11 and related bankruptcy transactions;

(b) Assistance in the preparation of the financial statements
     and footnotes;

(c) Assistance with the preparation of whitepapers that document
     the Debtors' conclusions on accounting issues, key
     assumptions, methodologies and outcomes;

(d) Assistance with ZQK's assessment of historical accounting
     for stock compensation expenses, particularly as it relates
     to historical forfeiture assumptions;

(e) Assistance with the assembly and documentation of support to
     facilitate the financial statement audit effort;

(f) Identification of differences between book and tax balances
     and determination of deferred tax assets and liabilities
     that arise from the reorganization;

(g) Assistance with the push down of valuation results and plan
     effects into ZQK's sub-ledgers, books, and records (parts
     (a) - (g), collectively, the "Accounting Advisory
     Services");

Internal Audit Services:

(a) Testing of the Debtors' Information Technology General
     Controls ("ITGC") for roll-forward and year-end in the
     United States and Russia, including documentation planning
     assistance, indirect entity level control documentation
     assistance, and direct entity and transaction level control
     documentation assistance;

(b) Assistance with performing tests of the design and operating
     effectiveness of the Debtors' Internal Control over
     Financial Reporting ("ICOFR");

(c) Assistance to the Debtors' personnel in a loan staff
     capacity in supporting its ICOFR services (the "Loan Staff
     Service") (parts (a) - (c), collectively, the "Internal
     Audit Services").

The Accounting Advisory Services will be billed at these hourly
rates:

         Personnel                      Discounted
         Classification                 Hourly Rate
         --------------                 -----------
         Partners                           $710
         Managing Directors                 $600
         Directors/Senior Managers          $560
         Managers                           $460
         Senior Associates                  $350
         Associates                         $295

For Loan Staff Services, KPMG will provide the Debtors with a
senior associate to be billed at the senior associate rate noted;
for all other services, the hourly rates for Internal Audit
Services will be billed at these hourly rates:

         Personnel                      Discounted
         Classification                 Hourly Rate
         --------------                 -----------
         Partners                           $365
         Directors                          $350
         Managers                           $290
         Senior Associates                  $250
         Associates                         $150
         Para-professionals                 $100

In addition, the fee to be charged for Russia personnel in
supporting the Debtors' ICOFR services will be billed at a senior
associate rate of $200/hour.

The Debtors have also agreed to reimburse KPMG for its reasonable
and necessary engagement-related expenses, including meals,
lodging, travel, photocopying, third-party database fees, and other
out-of-pocket expenses.

With respect to the prepetition services provided by KPMG, the
Debtors have paid KPMG approximately $277,177.50, including a
retainer in the amount of $50,000, in the 90-day period prior to
the Petition Date. As of the Petition Date, $0 of the retainer
amount remained. As of the Petition Date, approximately $82,852 was
outstanding with respect to invoices issued by KPMG to the Debtors
prior to the Petition Date. KPMG has agreed to waive
amounts owed for professional services rendered prior to the
Petition Date, contingent on approval of the Employment
Application.

Pierre Kahn, a partners at KPMG LLC, assured the Court that his
firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.

The Firm can be reached at:

   KPMG LLP
   550 South Hope Street, Suite 1500
   Los Angeles, CA 90071
   Pierre Kahn
   Partner, Los Angeles
   Tel No: 213-955-8569
   E-mail: pkhan@kpmg.com

                       About Quiksilver Inc.

Quiksilver, Inc. -- http://www.quiksilver.com,http://www.roxy.com

and http://www.dcshoes.com-- is an outdoor sports lifestyle  
companies, that designs, produces and distributes branded apparel,
footwear and accessories.  The Company's apparel and footwear
brands, inspired by a passion for outdoor action sports, represent
a casual lifestyle for young-minded people who connect with its
boardriding culture and heritage.  The Company's Quiksilver, Roxy,
and DC brands have authentic roots and heritage in surf, snow and
skate.  The Company's products are sold in more than 100 countries
in a wide range of distribution, including surf shops, skate shops,
snow shops, its proprietary Boardriders shops and other
Company-owned retail stores, other specialty stores, select
department stores and through various e-commerce channels.

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 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.

                           *     *    *

The Court filed a pre-arranged Chapter 11 restructuring plan backed
by Oaktree Capital Management, a holder of 73% of the Company's
U.S. Secured Notes.  The Plan was confirmed Jan. 29, 2016, and the
Plan was declared effective Feb. 11, 2016.

Under the Plan, 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.



RELATIVITY FASHION: Court OKs Houlihan Lokey as Financial Advisor
-----------------------------------------------------------------
Judge Michael E. Wiles authorized Relativity Fashion, et al., to
employ Houlihan Lokey Capital, Inc., as their investment banker and
financial advisor.

Prior to the entry of the Court's ruling, and as previously
reported by The Troubled Company Reporter, the United States
Trustee objected to the retention of Houlihan asserting that the
Debtors have not demonstrated that it is a "disinterested person"
within the meaning of the Bankruptcy Code.

Specifically, the U.S. Trustee contended that Ryan Kavanaugh's, the
Debtors' chief executive officer, personal financial obligations
under his previous engagement of Houlihan Lokey are being shifted
to the Debtors. In addition, the U.S. Trustee stated that Mr.
Kavanaugh's guarantee of Houlihan Lokey's fees may create an
impermissible conflict of interest.

In response, the Debtors reiterated that Houlihan does not hold nor
represent any interests adverse to their estates and is, therefore,
disinterested.

The Debtors noted that pursuant to the Supplemental Declaration of
Houlihan director Michael Krakovsky, Houlihan Lokey (i) disclosed
the dates and amounts of the three payments that it received from
Mr. Kavanaugh under a prior engagement, (ii) clarified that
Houlihan Lokey was not entitled to receive any payments under the
proposed engagement with the Debtors that would duplicate payments
received or to be received from Mr. Kavanaugh, and (iii) described
Mr. Kavanaugh's agreement to guarantee payments due to Houlihan
Lokey by the Debtors if Houlihan Lokey's retention is not approved
by the Court.

The Official Committee of Unsecured Creditors also issued a
statement on the matter, saying that, "Kavanaugh's guarantee has
been disclosed, the Debtors consented to the guarantee, the
relationship among the Debtors, Kavanaugh, and Houlihan has been
fully disclosed, and as Houlihan and the Debtor have demonstrated,
Houlihan is otherwise disinterested."  The Committee supported the
overruling of the U.S. Trustee objection.

In his Retention Order, Judge Wiles rules that the United States
Trustee and the Committee retain all rights to respond or object
to Houlihan Lokey's interim and final applications for compensation
and any requests for substantial contribution claims (including
without limitation the Retainer Fees and the Transaction Fees) and
reimbursement of out-of-pocket expenses on all grounds.

                     About Relativity Fashion

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

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

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

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

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

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

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

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

                           *     *     *

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

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


REPUBLIC AIRWAYS: Business as Usual While in Chapter 11
-------------------------------------------------------
Republic Airways Holdings Inc. (RJET) and certain of its
subsidiaries have filed voluntary petitions for relief under
Chapter 11 of the United States Bankruptcy Code.  The petitions
were filed in the U.S. Bankruptcy Court for the Southern District
of New York.

Republic's board of directors unanimously determined that a Chapter
11 reorganization is in the best interest of the company and its
stakeholders.  The process allows Republic and its subsidiaries to
continue normal business operations while restructuring the
company's finances and contractual relationships.

"We worked hard to avoid this step," said Bryan Bedford, Republic's
chairman, president and chief executive officer. "Over the last
several months, we've attempted to restructure the obligations on
our out-of-favor aircraft – made so by a nationwide pilot
shortage – and to increase our revenues. It's become clear that
this process has reached an impasse and that any further delay
would unnecessarily waste valuable resources of the enterprise. Our
filing today is a result of our loss of revenue during the past
several quarters associated with grounding aircraft due to a lack
of pilot resources, combined with the reality that our negotiating
effort with key stakeholders shows no apparent prospect of a near
term resolution."

"The airline, our associates, partners, passengers, creditors,
shareholders and its other stakeholders – including the
communities served by Republic – will be best served by an
orderly, court-supervised restructuring," Bedford continued.  "We
filed with a strong core business and the liquidity resources
necessary to carry out our restructuring plan.  Our restructuring
will maintain Republic as the world's largest operator of EJET
aircraft.  Along with the 6,000 dedicated professional women and
men of Republic, we believe this action will allow us to restore
our airline and take it to new heights."

Republic's operating subsidiaries are conducting normal flight
operations and the company is doing business as usual across its
locations.  As it navigates the Chapter 11 process, Republic will
continue to:

   * Deliver a safe, clean and reliable product for its customers;
Provide wages, healthcare and other benefits to its associates
without interruption; Fund its 401(k) contributions on schedule;

   * Honor and retain its collective bargaining agreements with its
unions, and;

   * Pay suppliers and vendors for the goods and services its
receive in the ordinary course of business throughout the
restructuring process.

The company has sufficient assets and liquidity to meet its working
capital and operating expenses during the restructuring process.

In connection with the filing, the company has named Lars Arnell to
the role of senior vice president and chief restructuring officer.
In his new position, Arnell will be responsible for all
restructuring activities at the airline and its subsidiaries during
the pendency of the Chapter 11 proceeding. Arnell's duties include
implementing procedures and processes designed to immediately
improve the core business as well as cohesive strategies aimed at
ensuring the long-term success of Republic. Arnell was previously
Republic's senior vice president of corporate development.  The
appointment is effective immediately.

                     About Republic Airways

Republic Airways Holdings Inc., based in Indianapolis, is an
airline holding company (NASDAQ: RJET) that owns Republic Airline
and Shuttle America Corporation.  Republic Airline and Shuttle
America -- http://www.rjet.com/-- offer approximately 1,000
flights daily to 105 cities in 38 states, Canada, the Caribbean,
and the Bahamas through Republic's fixed-fee codeshare agreements
under our major airline partner brands of American Eagle, Delta
Connection and United Express.  The airlines currently employ about
6,000 aviation professionals.  

On Feb. 25, 2016 Republic Airways Holdings Inc. and 6 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the United States Bankruptcy Code in the United States
Bankruptcy Court for the Southern District of New York.   The
Debtors have requested that their cases be jointly administered
under Case No. 16-10429.  The petitions were signed by Joseph P.
Allman as senior vice president and chief financial officer.

Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are
serving as Republic's legal advisors in the restructuring. Seabury
Group LLC is serving as financial advisor.  Deloitte & Touche LLP
is the independent auditor.  Prime Clerk is the claims and noticing
agent.


REPUBLIC AIRWAYS: Case Summary & 40 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                      Case No.
      ------                                      --------
      Republic Airways Services, Inc.             16-10426
         aka Bestcare Holdings, Inc.
      80 Broad Street
      New York, NY 10004

      Shuttle America Corporation                 16-10427

      Republic Airline Inc.                       16-10428

      Republic Airways Holdings Inc.              16-10429
       
      Midwest Air Group, Inc.                     16-10430

      Midwest Airlines, Inc.                      16-10431

      Skyway Airlines, Inc.                       16-10432         
           

Type of Business: Airline

Chapter 11 Petition Date: February 25, 2016

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

Judge: Hon. Sean H. Lane

Debtors' Counsel:     Bruce Robert Zirinsky, Esq.
                      Sharon J. Richardson, Esq.
                      Gary D. Ticoll, Esq.
                      ZIRINSKY LAW PARTNERS PLLC
                      375 Park Avenue, Suite 2607
                      New York, NY 10152
                      Tel: 212-763-0192
                      Email: bzirinsky@zirinskylaw.com
                             srichardson@zirinskylaw.com

                             gticoll@zirinskylaw.com

Debtors' Co-Counsel:  Christopher K. Kiplok, Esq.
                      Ramsey Chamie, Esq.
                      Erin E. Diers, Esq.
                      HUGHES HUBBARD & REED LLP
                      One Battery Park Plaza

                      New York, New York 10004
                      Tel: (212) 837-6000
                      E-mail: chris.kiplok@hugheshubbard.com
                             ramsey.chamie@hugheshubbard.com
                             erin.diers@hugheshubbard.com

Debtors' Financial    SEABURY CORPORATE ADVISORS LLC AND
Advisor and           AND SEABURY SECURITIES LLC
Investment Banker:    1350 Avenue of the Americas,
                      25th Floor, New York, New York 10019,

Debtors'              DELOITTE & TOUCHE LLP
Independent           111 Monument Circle
Auditor:              Suite 2000, Indianapolis,
                      Indiana 46204

Debtors' Claims       PRIME CLERK LLC
and Noticing          830 Third Avenue,
Agent:                9th Floor, New York,
                      New York 10022

Total Assets: $3.56 billion as of Jan. 31, 2016

Total Debt: $2.97 billion as of Jan. 31, 2016

The petitions were signed by Joseph P. Allman, senior vice
president and chief financial officer.

Consolidated List of Debtors' 40 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
GE Engine Services, LLC                Trade          $20,612,355
1 Neumann Way
Cincinnati, OH 45215
Jim Zyck: Jim.zyck@ge.com

NAC Aviation 21 Ltd.                  Contract       Unliquidated
5th Floor
Bedford Place, Henry St.
Limerick Ireland
Tom Turley:
+353(86) 816-5666;
ttu@nac.dk

NAC Aviation 23 Ltd.                  Contract       Unliquidated
5th Floor
Bedford Place, Henry St.
Limerick Ireland
Tom Turley:
+353(86) 816-5666;
ttu@nac.dk

GE Capital Aviation                   Contract       Unliquidated
Services, 901 Main
Avenue Norwalk, CT 06851
Jim Steckert: 203-842-5224;
jim.steckart@gecas.com

RESIDCO, 70 W                         Contract       Unliquidated
Madison, Suite 2340
Chicago, IL 60602
Glenn Davis: 312-635-3161;
davis@residco.com

CitiBank NA, 2                        Bank Loan      Unliquidated
Court Square 7th
Floor Long Island
City, NY 11101
Joseph Shanahan:
212-816-5426;
joseph.b.shanahan@citi.com

Embraer Aircraft                        Trade         $10,058,816
Customer Services,
Inc., 276 SW 34th
Street Fort
Lauderdale, FL 33315
Paolo Caser de
Souza e Silva:
pcssilva@embraer.com.br

EAMS-Embraer                            Trade          $6,345,766
Aircraft Maintenance
Services, Inc.,
10 Airways Blvd.
Nashville, TN 37217
John Linn: 954-359-3818;
954-328-6095
jlinn@embraer.com

Emery Air, Inc., 46                     Trade          $2,731,718
Airport Drive,
Rockford, IL 61109
Robert Pike: 815-
986-2178; 312-543-2126;
bpike@emeryair.com

Meggitt Aircraft                        Trade          $1,737,591
Braking Systems,
1204 Massillon Road
Akron, OH 44306
Bob Fredenburg:
330-796-7179; 330-666-7199
Bob.Fredenburg@meggitt.com

Honeywell                               Trade          $1,710,819
International Inc.,
John Ashton: 480-
592-4683; 480-619-1194
2111 N 19th Ave
Phoenix, AZ 85027
john.ashton@honeywell.com

Pratt & Whitney                         Trade          $1,619,326
Component Solutions, Inc.,
4905 Stariha
Drive Muskegon, MI 49441
Dan Silverman:
450-647-2251;
dan.silverman@pwc.ca

Flight Safety                           Trade          $1,601,830
International, Marine
Air Terminal
LaGuardia Airport,
Flushing, NY 11371-1061
Terry Hibler: 201-218-1079;
terry.hibler@flightsafety.com

Honeywell                               Trade          $1,300,000
International Inc.,
Aerospace Electronic
Systems, 21111 N.
19 th Avenue, Phoenix,
AZ 85027-2701
John Ashton: 480-
592-4683; 480-619-1194
john.ashton@honeywell.com

Rolls-Royce                             Trade          $1,192,795
Corporation, 1875
Explorer Street, Suite
200 Reston, VA 20190
Mike Tuohy:
mike.tuohy@rolls-royce.com;
317-230-8408

Hamilton Sundstrand,                    Trade            $982,184
One Hamilton Road
Windsor Locks, CT
06096-1010
Karl Johanson: 858-
627-6545; 619-548-
0435;
karl.johanson@hs.utc.com

Bombardier - Learjet                    Trade            $866,197
Inc., 7761 West
Kellogg Wichita, KS 67209
Elaine Kato: 416-
375-4016; 416-317-0446;
elaine.kato@aero.bombardier.com

Parker, 14300 Alton                     Trade            $595,038
Parkway Irvine, CA
92618-1898
Mark Mourani:
949-809-8310; 949-981-0606;
mmourani@parker.com

MTU Maintenance                         Trade            $517,862
Canada Ltd., 6020
Russ Baker Way
Richmond, BC
Canada V7B-1B4
Les Cronin: 678-
352-4740 678-756-4975
Les.CRONIN@mtu.de

Timothy Dooley,                         Former       Unliquidated
8727 Lancaster Road,                   Employee
Indpls, IN 46260
Tim Dooley: 317-
710-4622;
timdooley317@gmail.com

C&D Zodiac Inc.,                        Trade            $382,662
11240 Warland Dr.
Cypress, CA 90630
Mike Levine: 714
934-0000 X228;
714-305-5320;
mike.levine@zodia
caerospace.com

Zodiac Seats                            Trade            $318,596
California,
James Finn: 714-
756-0142; 714-756-0142;
James.Finn@zodiacaerospace.com

Aircelle, Route du                      Trade            $260,532
Pont VIII BP 91
Gonfreville l'Orcher
France 76700
Nicolas Bohn;
703-980-4287;
nicolas.bohn@aircelle.com

Wayne Heller, 10534                    Former        Unliquidated
Iron Horse Lane,                      Employee
Carmel, IN 46032
Wayne Heller:
317-710-4504;
wch903@aol.com

Allen Group, PO Box                     Trade            $250,000
1605, Indianapolis, IN 46206
Matt Henry: 316-
208-8006; 316-945-2575;
mhenry@appearancegroup.com

Skyservice 6120                         Trade            $240,000
Midfield Road,
Mississauga, Ontario, L5P 1B1
Mark Rinaldi: 905-678-5844;
mark_rinaldi@skyservicebas.com

PlaneTechs, 1520                        Trade            $240,000
Mike Shally: 630-

468-1685;
mikeshally@planetechs.com

Jeppesen Sanderson Inc.,                Trade            $238,086
Todd Duval: 303-328-4224;
Todd.duval@jeppesen.com

Sabre                                   Trade            $230,000
Greg Hilliard: 682-
605-1780;
greg.hilliard@sabre.com

Goodrich Aircraft                       Trade            $227,876
Jim Patrick: 704-
483-3490;
james.patrick@hs.utc.com

Leading Edge Aviation Services,         Trade            $193,923
Dave Patterson:
949-633-4656;
dave@leascorp.com

Ultimate Software                       Trade            $188,232
Mark Thompson:
614-367-6740;
mark_thompson@u
ltimatesoftware.com

Crowne Plaza Newark                     Trade            $173,218
Tel: (908) 527-1600;
reservations@cpne
warkairport.com

KLX Inc., 1300                          Trade            $172,084
Tinalee Smallhorne:
305-716-6912; 214-

693-6111;
tinalee.smallhorne

@klx.com

JettPro Line                            Trade            $163,958
Danny Smith: 317-
727-6267;
dsmith@jettpro.aero

FedEx Freight,                          Trade            $150,456
Jack Duckworth:
612-716-6158;
jeduckworth@fedex.com

Piedmont Aviation Component             Trade            $120,004
Chap Berrier: 336-
776-6381; 336-407-4310;
Chap.Berrier@pied
montaviation.com

Ramco Aviation                          Trade            $115,000
Manoj Singh: 972-
834-0422; mks@ramco.com

Subsidiary of Eastman Chemical Company  Trade             $97,406
Sharon Dunn: 314-
674-1149;
sbdunn@eastman.com

Louisville Regional Airport Authority   Trade             $92,675
Skip Miller: 502-363-8501;
Skip.Miller@flylouisville.com


REPUBLIC AIRWAYS: Files for Chapter 11 After Pilot Shortage
-----------------------------------------------------------
Regional carrier Republic Airways Holdings Inc., which provides
flights for larger airlines including American Airlines, Delta Air
Lines and United Continental, has filed for Chapter 11 bankruptcy,
saying pilot shortages forced it to reduce operations at a time
when major airlines are enjoying record profits.

"[T]here is a growing, national shortage of qualified pilots in the
United States. This shortage is making it increasingly difficult to
maintain the necessary pilot staffing levels to sustain reliable
performance requirements under the agreements with the Codeshare
Partners.  As a result of the pilot shortage, Republic has been
forced to ground operating aircraft and reduce scheduled flying for
each of the Codeshare Partners, which has adversely affected
Republic's financial position and cash flows from operations.
Although a new three-year collective bargaining agreement reached
with its pilots in late 2015 has enabled Republic to stem the rate
of attrition and significantly increase new pilot hiring, Republic
needs time to be able to train new pilots, return more of its idled
aircraft to revenue service, and restore higher levels of scheduled
service for the Codeshare Partners," Bryan K. Bedford, president
and CEO said in a court filing.

Republic has a fleet of about 240 small planes that are used by
airlines such as American Airlines, Delta and United Continental on
regional flights.  Republic provides just under 3.5% of the total
domestic industry seats with higher concentrations in the
Northeast, Mid-Atlantic, and Midwest regions.  The New York City
metropolitan area represents Republic's single largest market, with
more than 360 arrivals and departures daily.

As of Jan. 31, 2016, Republic was providing approximately 285
flights per day as US Airways Express and approximately 225 flights
per day as American Eagle, approximately 240 flights per day as
Delta Connection, and approximately 280 flights per day as United
Express.

For the year ended Dec. 31, 2015, on a consolidated basis, Republic
had operating revenue of $1,343,900,000, operating expenses of
$1,259,200,000, and net loss of $27,117,000.

Approximately 71% of Republic's workforce is employed under
collective bargaining agreements.  Pilots comprise 2,077 of the
4,238 union employees.

                       Contract With Pilots

Republic was in a protracted, eight-year labor dispute with the
International Brotherhood of Teamsters, which represents all of
Republic's pilots.  During the height of the labor dispute and
largely because of Republic's inferior pilot labor agreement,
Republic experienced unprecedented pilot attrition and severely
challenged new pilot hiring, according to Mr. Bedford.

In October 2007, Republic's collective bargaining agreement with
the IBT became amendable.  Following collective bargaining
negotiations supervised by the National Mediation Board (the
"NMB"), on September 27, 2015, Republic and the IBT reached a
tentative agreement on the terms of a new three-year contract,
which was ratified by Republic's pilots on Oct. 27, 2015.

The new three-year pilot labor agreement has significantly
increased Republic's pilot labor costs.  Republic as a result
engaged in dialogue with each codeshare partner regarding an
increase in payments under the fixed-fee code sharing agreements to
compensate Republic for its significant increase in pilot labor
costs

For the past several months, Republic has engaged in extensive
discussions and negotiations with the Codeshare Partners and other
key stakeholders to secure compensation for the higher labor costs,
address its costs for idle aircraft, and to improve its
liquidity position.  While there has been substantial progress,
including the resolution of the eight-year labor dispute with the
pilots, it has recently become apparent that Republic will not be
able to reach agreement with all the necessary parties within a
reasonable period of time.

Although Republic had hoped to achieve these goals through
consensual out-of-court agreements with each of these parties,
because of the loss of revenues during the past several quarters
and the decline in its liquidity, Republic believes the Debtors,
their employees, their creditors, shareholders, and other
stakeholders (including the many communities served by Republic),
their Codeshare Partners, and their passengers, will all be better
served by completing a restructuring under the protections of
chapter 11 of title 11, United States Code.

                       Codeshare Agreements

According to Republic, each of the Codeshare Partners has expressed
a willingness to address Republic's increased costs and to modify
its agreement in order to accommodate Republic's rebuilding its
levels of operations as it recruited and trained new pilots.

However, each party's willingness to participate has been
conditioned on Republic's ability to achieve new agreements with
all of the Codeshare Partners and other key stakeholders.  Despite
extensive negotiations, such agreements have proven elusive.

On Oct. 5, 2015, Delta chose abruptly to cease further negotiations
with Republic and instead filed litigation against Republic
alleging breach of the fixed-fee agreements.  Republic disputed
Delta's allegations, and for approximately six weeks there was no
further engagement on modifications to their agreements.  Although
there was no merit to Delta's lawsuit, unfortunately, the existence
of the litigation and the uncertainty of its resolution became an
impediment to reaching resolutions with the other Codeshare
Partners.  After weeks of preliminary litigation and as a result of
outreach by representatives of Republic, Delta and Republic have
recently reengaged in extensive negotiations and on Jan. 30, 2015,
a nonbinding letter of intent was signed, and the litigation was
stayed.

Republic has continued to engage in extensive negotiations with all
of its major stakeholders, including its Codeshare Partners, OEM
counterparties (such as Embraer, Pratt & Whitney, Rolls Royce, and
Bombardier), and aircraft and equipment financing partners
(such as GECAS, NAC, and RESIDCO), to address the necessary
modifications to its agreements that will enable Republic to
restructure and return to reliable and profitable operations.
Although all Republic's stakeholders have expressed their support,
and a willingness to participate in these efforts, no binding
agreements have been reached.  Republic can no longer afford to
bear the substantial costs of unproductive assets and unprofitable
agreements while it seeks consensual agreements with its
stakeholders.  Republic believes that the protections afforded to
debtors by chapter 11 will help stem these costs and losses and
afford Republic the necessary time to reach agreements with its key
stakeholders.

Republic is optimistic about its long-term prospects as it
stabilizes its business and continues to operate during the chapter
11 cases.  Through the chapter 11 process, Republic intends to
continue to work with its constituents to grow back its business by
restructuring its flight schedules, divesting itself of burdensome,
underutilized aircraft and equipment, and simplifying its
operational fleet by transitioning to a single, larger regional jet
fleet and a single operating certificate and assuring sufficient
liquidity to support its operations and future growth.  These
chapter 11 cases present the opportunity for Republic to accomplish
these goals on a consensual basis for the benefit of all
stakeholders.

                        Restructuring Plan

Having achieved a new collective bargaining agreement with its
pilots, Republic has been and will continue to pursue the following
restructuring plan:

   * Obtain modified agreements from our Codeshare Partners to
reimburse the increased costs from the new collective bargaining
agreement with its pilots and allow an orderly restoration of
service.

   * Agree to an early return/settlement of claims relating to out
of favor aircraft (Q400 and ERJ-145).

   * Streamline our operations by operating a single aircraft type
(E170/175) and under a single operating certificate.

  * Secure additional liquidity to fund future operations and
growth.

In furtherance of Republic's plan to simplify its business by
operating fewer fleet types on fewer certificates, on Jan. 1, 2015,
Republic completed the consolidation of the operations of its
50-seat regional jet platform, Chautauqua Airlines, into the
Shuttle America operating certificate.  All operating aircraft and
related employees were transferred to Shuttle America's operations
as Chautauqua was merged into Shuttle America.  Consistent with its
business plan, and through the chapter 11 process, Republic expects
to sell its remaining related assets and complete the wind down of
its smaller regional jet and turboprop aircraft.

                         First Day Motions

Contemporaneously with the petitions, the Debtors are filing
first-day pleadings to ensure that their business continues on an
uninterrupted basis during the Chapter 11 cases.  The Debtors are
seeking authority to, among other things, continue using existing
cash management system, pay employee obligations, pay critical
vendor claims, and prohibit utility providers from discontinuing
services.

A copy of the affidavit in support of the first-day motions is
available for free at:

  http://bankrupt.com/misc/Republic_Air_4_1st_Day_Affidavit.pdf

                  Cash Receipts and Disbursements

Pursuant to Local Bankruptcy Rule 1007-2(b)(3), the Debtors
provided, for the 30-day period following the Petition Date, the
estimated cash receipts and disbursements, net cash gain or loss,
and obligations and receivables expected to accrue but remain
unpaid, other than professional fees:

       Cash Receipts         $107,900,000
       Cash Disbursements     $70,000,000
       Net Cash Gain          $37,900,000
       Unpaid Obligations     $56,000,000
       Unpaid Receivables              $0

Pursuant to Local Bankruptcy Rule 1007-2(b)(1), (b)(2)(A) &
(b)(2)(C), the Debtors also provided an estimated amount of weekly
payroll, on a consolidated basis, to be paid to the Debtors'
employees and the estimated amount to be paid to officers,
directors, and stockholders for the 30-day period following the
Commencement Date.

       Payroll for executive officers and directors    $130,000
       Payroll for all other employees              $28,270,000
                                                    -----------
            Total Payroll                           $28,400,000

The Debtors will not pay fees to any financial or business
consultants during the 30 days following the Commencement Date.

                   Prepetition Capital Structure

As of Jan. 31, 2016, on a consolidated basis, Republic had assets
and liabilities of $3,561,000,000 and $2,971,000,000, respectively,
unrestricted cash and short-term investments of $132,300,000, and
stockholders' equity of $590,000,000.  Republic's restricted cash
of $4,788,000 consists of amounts segregated for certain debt and
lease payment obligations during the upcoming year, and
certificates of deposit that secure certain letters of credit
issued for workers' compensation claim reserves and certain airport
authorities.

As of the Petition Date, Republic has $60 million in borrowings
outstanding under a revolving credit facility and $8.8 million in
issued and outstanding letters of credit pursuant to a Credit and
Guarantee Agreement, dated April 7, 2015, as amended (the "DB
Facility"), with DB AG New York Branch, as administrative agent,
revolving lender, and revolving facility issuing lender, Key Bank
National Association and Morgan Stanley Bank, N.A., as revolving
lenders.  Republic's obligations under the DB Facility are secured
by certain spare parts and spare engines.

In addition, Republic has $23 million in borrowings outstanding
under a Credit and Guaranty Agreement, dated as of April 24, 2015
(the "Citi Facility"), with Citibank, N.A., as administrative
agent.  Republic's obligations under the Citi Facility are secured
by certain aircraft and engines.

Republic is party to numerous arrangements that provide for the
financing of its aircraft and equipment.  These financing
arrangements include (as of Dec. 31, 2015):

   (a) Approximately $2.318 billion in principal amount of notes
amortized through 2027, bearing interest at fixed rates ranging
from 2.04% to 8.49%, secured by aircraft;

   (b) Approximately $56.7 million in principal amount of notes
amortized through 2022, bearing interest at fixed rates ranging
from 5.13% to 8.38%, secured by spare parts and equipment; and

   (c) Approximately $1.7 million in principal amount of notes
amortized through 2017, bearing interest at variable rates based on
LIBOR plus a margin ranging from 3.18% to 3.66%, secured by spare
parts and equipment.

With respect to new aircraft commitments, as of Dec. 31, 2015,
Republic has firm orders to purchase 40 CS300 aircraft from
Bombardier that are contracted to be delivered starting in the
second quarter of 2015 (which deliveries have not yet commenced),
with scheduled delivery dates continuing through the third quarter
of 2017. Republic also has commitments with Embraer for 24 E175
aircraft under the United brand that have scheduled delivery dates
between the third quarter of 2016 and the fourth quarter of 2017.
In addition, Republic has commitments with Pratt & Whitney and GE
Engines Services for a total of a minimum of 15 spare engines to be
delivered in 2016 and 2017.

As of Dec. 31, 2015, Republic's financed aircraft obligations,
including the foregoing commitments, aggregate approximately $3.461
billion, payable (assuming delivery dates as projected) as follows:
$1.211 billion in 2016, $1.471 billion in 2017, and $778.4 million
in 2018.  

Republic also has significant obligations for aircraft and engines
that are classified as operating leases and not reflected on its
balance sheet.  Republic's aircraft operating leases expire between
2016 and 2023.  The estimated minimum rental payments on these
leases for the next year are approximately $97.3 million.
Republic's other operating leases are for engines, terminal space,
operating facilities, office space, and office equipment, and
expire from 2016 through 2033.  Republic's estimated minimum rental
payments on these leases for the next year are approximately $15.9
million.

Apart from any unsecured deficiency claims that may exist with
respect to financed aircraft and equipment or the credit
facilities, Republic does not have any unsecured indebtedness for
borrowed money.  As of Feb. 16, 2016, Republic's unsecured trade
payables aggregated $25.7 million.

Republic Airways Holdings is a public reporting company under
section 12(g) of the Securities Exchange Act of 1934. RAH's shares
of common stock, par value $.001, are traded on the NASDAQ under
the symbol "RJET."

                     About Republic Airways

Republic Airways Holdings Inc., based in Indianapolis, is an
airline holding company (NASDAQ: RJET) that owns Republic Airline
and Shuttle America Corporation.  Republic Airline and Shuttle
America -- http://www.rjet.com/-- offer approximately 1,000
flights daily to 105 cities in 38 states, Canada, the Caribbean,
and the Bahamas through Republic's fixed-fee codeshare agreements
under our major airline partner brands of American Eagle, Delta
Connection and United Express.  The airlines currently employ about
6,000 aviation professionals.  

On Feb. 25, 2016 Republic Airways Holdings Inc. and 6 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the United States Bankruptcy Code in the United States
Bankruptcy Court for the Southern District of New York.   The
Debtors have requested that their cases be jointly administered
under Case No. 16-10429.  The petitions were signed by Joseph P.
Allman as senior vice president and chief financial officer.

Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are
serving as Republic's legal advisors in the restructuring. Seabury
Group LLC is serving as financial advisor.  Deloitte & Touche LLP
is the independent auditor.  Prime Clerk is the claims and noticing
agent.


REPUBLIC AIRWAYS: Seeking Joint Administration of Cases
-------------------------------------------------------
Republic Airways Holdings Inc. and its affiliated debtors ask the
Bankruptcy Court to enter an order directing joint administration
of their Chapter 11 cases.

The Debtors assert that joint administration of these cases is
warranted as it will avoid the preparation, replication, service,
and filing, as applicable, of duplicative notices, applications,
and orders, thereby saving them considerable expense and
resources.

Republic also seeks authority to file its monthly operating reports
required by the Operating Guidelines and Reporting Requirements for
Debtors in Possession and Trustees, issued by the U.S. Trustee, by
consolidating the information required for each Debtor in one
report that tracks and breaks out the specific information on a
debtor-by-debtor basis in each monthly operating report.

                     About Republic Airways

Republic Airways Holdings Inc., based in Indianapolis, is an
airline holding company (NASDAQ: RJET) that owns Republic Airline
and Shuttle America Corporation.  Republic Airline and Shuttle
America -- http://www.rjet.com/-- offer approximately 1,000
flights daily to 105 cities in 38 states, Canada, the Caribbean,
and the Bahamas through Republic's fixed-fee codeshare agreements
under our major airline partner brands of American Eagle, Delta
Connection and United Express.  The airlines currently employ about
6,000 aviation professionals.  

On Feb. 25, 2016 Republic Airways Holdings Inc. and 6 affiliated
debtors each filed a voluntary petition for relief under Chapter 11
of the United States Bankruptcy Code in the United States
Bankruptcy Court for the Southern District of New York.   The
Debtors have requested that their cases be jointly administered
under Case No. 16-10429.  The petitions were signed by Joseph P.
Allman as senior vice president and chief financial officer.  Judge
Sean H. Lane has been assigned the cases.

As of Jan. 31, 2016, on a consolidated basis, Republic had assets
and liabilities of $3,561,000,000 and $2,971,000,000 (unaudited),
respectively.

Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are
serving as Republic's legal advisors in the restructuring. Seabury
Group LLC is serving as financial advisor.  Deloitte & Touche LLP
is the independent auditor.  Prime Clerk is the claims and noticing
agent.


REXNORD: Bank Debt Trades at 5% Off
-----------------------------------
Participations in a syndicated loan under which Rexnord is a
borrower traded in the secondary market at 95.05
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents an increase of 0.42 percentage points from the
previous week.  Rexnord pays 300 basis points above LIBOR to borrow
under the $1.950 billion facility. The bank loan matures on Aug.
15, 2020 and carries Moody's B2 rating and Standard & Poor's BB-
rating.  The loan is one of the biggest gainers and losers among
247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


RICEBRAN TECHNOLOGIES: Files Series F Certificate of Determination
------------------------------------------------------------------
RiceBran Technologies filed a Certificate of Determination of
Preferences and Rights of the Series F Preferred Stock of RiceBran
Technologies with the Secretary of State of the State of
California, establishing the Series F Preferred Stock in connection
with the issuance of Series F Preferred Stock under the Securities
Purchase Agreement dated Feb. 17, 2016, previously disclosed in its
Form 8-K filed with the SEC on Feb. 17, 2016.

The Certificate of Determination provides that the Series F
Preferred Stock is non-voting and has a conversion into the
Company's common stock at the holder's election at any time, at a
cashless conversion price of $1.50 per share of common stock based
on a Series F Preferred Stock price of $1,000, i.e. each share of
Series F Preferred Stock can be converted into approximately six
hundred sixty six and two thirds shares of common stock.  The
Series F Preferred Stock is only entitled to receive dividends if
any are declared by Company, in which case the dividend will be
paid (a) first an amount equal to $0.01 per share of Series F
Preferred Stock (before any distributions or payments to junior
securities), and (b) then (on an "as converted to common stock"
basis) to and in the same form as dividends actually paid on shares
of the Company's common stock.  Otherwise, the Series F Preferred
Stock has no liquidation or other preferences over the Company's
common stock.  Subject to limited exceptions, a holder of Series F
Preferred Stock will not have the right to exercise any portion of
its Series F Preferred Stock if the holder, together with its
affiliates, would beneficially own over 4.99% of the number of
shares of the Company's common stock outstanding immediately after
giving effect to such exercise; provided, however, that upon 61
days' prior notice to the Company, the holder may increase the
Shares' Beneficial Ownership Limitation, provided that in no event
will the Shares' Beneficial Ownership Limitation exceed 9.99%.  

                        About RiceBran

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

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

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

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


RIVERBED TECHNOLOGY: Bank Debt Trades at 3% Off
-----------------------------------------------
Participations in a syndicated loan under which Riverbed Technology
Inc is a borrower traded in the secondary market at 97.29
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.26 percentage points from the
previous week.  Riverbed Technology pays 500 basis points above
LIBOR to borrow under the $1.625 billion facility. The bank loan
matures on Feb. 11, 2022 and carries Moody's B1 rating and Standard
& Poor's B rating.  The loan is one of the biggest gainers and
losers among 247 widely quoted syndicated loans with five or more
bids in secondary trading for the week ended Feb. 19.


SALEM, NJ: Moody's Affirms Ba3 Rating on General Obligation Debt
----------------------------------------------------------------
Moody's Investors Service has affirmed the Ba3 rating on the City
of Salem, NJ's General Obligation debt. The outlook has been
revised to negative from stable. Concurrently, Moody's has affirmed
the A3 enhanced rating on the city's Series 2012 Municipal
Qualified Bond Act (MQBA) enhanced bonds. The outlook on the
enhanced rating remains negative.

The affirmation of the Ba3 rating reflects the large and possibly
unaffordable guaranty the city pledged for debt issued to fund an
office project. The city has provided budgetary support to the
project in recent years. Debt service is expected to escalate
significantly beginning in 2027 and the size of the liability
relative to the city's budget poses risks of significant bondholder
loss in the future. The rating also encompasses the city's adequate
but weakening financial position and very weak tax base and
demographic profile.

The A3 enhanced rating reflects the additional security provided by
the state's Municipal Qualified Bond Act (MQBA) pre-default state
intercept program. The A3 rating is one notch below the State of
New Jersey (A2 negative), reflecting a strong 2.8 times 2014 debt
service coverage of provided by qualified state aid revenues.

Rating Outlook

The negative underlying outlook reflects our expectation that city
operations will be significantly pressured over the next 12 to 18
months, and that the city's financial position could deteriorate
further. The outlook also reflects the lack of progress in
restructuring the guaranteed project in a way which would render it
self-supporting.

The negative outlook assigned to the enhanced qualified bond
ratings is directly linked to the state's negative outlook.

Factors that Could Lead to an Upgrade/Removal of Negative Outlook

Long-term prospects for city-guaranteed debt to become permanently
self-sustaining

Demonstrated ability to meet GO guaranty if called in full

Significant and sustained improvement in liquidity and Current Fund
balance

Material improvements in the city's socioeconomic profile

Factors that Could Lead to a Downgrade

Further deterioration in Current Fund balance and/or cash reserves

Material declines in the tax base or socioeconomic profile

Loss of tenant or increase in costs leading to large call on city
GO guaranty

Demonstration of a lack of willingness to meet GO guaranty if
called

Absence of positive development which would tend to render the
city-guaranteed debt self-sustaining

Legal Security

The city's bonds are secured by the its general obligation
unlimited tax pledge. The series 2012 bonds are additionally
enhanced by the State of New Jersey's Municipal Qualified Bond Act
pre-default intercept program.

Use of Proceeds

Not applicable.

Obligor Profile

Salem is the county seat of Salem County. It is located in the
southwestern part of the state along across the Delaware River from
the State of Delaware (Aaa stable). The city has a population of
approximately 5,000.


SALTY DOG: Case Summary & 19 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Salty Dog Rest, Ltd.
        7509 Third Avenue
        Brooklyn, NY 11209

Case No.: 16-40679

Chapter 11 Petition Date: February 24, 2016

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

Judge: Hon. Elizabeth S. Stong

Debtor's Counsel: Randall S. D. Jacobs, Esq.
                  RANDALL S. D. JACOBS, PLLC
                  30 Wall Street, 8th Floor
                  New York, NY 10005
                  Tel: 212 709 8116
                  Fax: (973) 226-8897
                  E-mail: rsdjacobs@chapter11esq.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

Largest unsecured creditor: George Kabbez, $100,000

The petition was signed by Robert P. Fadel, president.

A list of the Debtor's 19 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nyeb16-40679.pdf


SAMSON RESOURCES: Texas Tax Authorities Object to Sale of Oil Wells
-------------------------------------------------------------------
Local Texas tax authorities oppose Samson Resources Corp., et al.'s
motion seeking authority to sell more than 1,000 of their oil
wells, complaining that the sale motion does not provide for their
tax liens to attach to the sale proceeds and does not provide for
adequate protection for the ad valorem tax liens of the Tax
Authorities.

According to the Tax Authorities, the relief sought by the Debtors
should not be granted unless some form of adequate protection for
which a segregated account must be established from the sale
proceeds for their liens and claims for over $250,000 in unpaid and
delinquent from 2015 and prior years' owed taxes, plus their 2016
taxes which will amount to a total of more than $1,000,000.

The Tax Authorities assert that pursuant to the Texas Constitution
and the Texas Property Tax Code, their claims are secured with
unavoidable liens that are superior to that of any other secured
claimant, and such, tax lien is a lien in solido and is a lien on
all personal property of the Debtor.  Any proceeds from the sale of
the Tax Authorities' collateral should not be distributed to any
other party unless and until their claims, including any allowed
interests are paid in full, the Tax Authorities assert.

The Local Texas Tax Authorities composed of Cherokee CAD, Cleveland
ISD, Grayson County, Harris County, Jackson County, Matagorda
County, Orange County, Palacios ISD, Upshur County, Wise CAD, Wise
County, Duval County, Era ISD, Freer ISD, Beckville ISD, Ector CAD,
Franklin County, Gregg County, Marion County, Montgomery County,
Rio Grande City ISD, Rusk County, Smith County, Starr County, Van
Zandt CAD, and Ward County, are represented by:

     Elizabeth Weller, Esq.
     LINEBARGER GOGGAN BLAIR & SAMPSON, LLP
     2777 N. Stemmons Fwy., Ste. 1000
     Dallas, TX 75207
     Telephone: (469) 221-5075
     Facsimile: (469) 221-5003
     Email: BethW@LGBS.com

           About Samson Resources

Samson Resources Corporation, et al., filed Chapter 11 bankruptcy
petitions (D. Del. Lead Case No. 15-11934) on Sept. 16, 2015.
Philip W. Cook signed the petition as executive vice president and
chief financial officer. The Debtors estimated assets and
liabilities of more than $1 billion.

Samson is an onshore oil and gas exploration and production company
with interests in various oil and gas leases primarily located in
Colorado, Louisiana, North Dakota, Oklahoma, Texas, and Wyoming.
The Operating Companies operate, or have royalty or working
interests in, approximately 8,700 oil and gas production sites.

Samson was acquired by KKR and Crestview from Charles Schusterman
in December 2011 for approximately $7.2 billion. The investor group
provided approximately $4.1 billion in equity investments as part
of the purchase price.

Kirkland & Ellis LLP represents the Debtors as general counsel.
Klehr Harrison Harvey Branzburg LLP is the Debtors’ local
counsel.

Alvarez & Marsal LLC acts as the Debtors' financial advisor.
Blackstone Advisory Partners L.P. serves as the Debtors' investment
banker. Garden City Group, LLC serves as claims and noticing agent
to the Debtors.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Samson Resources Corp. and its affiliated debtors to
serve on the official committee of unsecured creditors.


SCHAHIN II: Moody's Withdraws 'C' Rating on Notes Due 2022
----------------------------------------------------------
Moody's Investors Service has withdrawn the C rating with stable
outlook for Schahin II Finance Company (SPV) Limited's (Schahin II
or the Project) 5.875% senior secured global notes (the "Notes")
due on 25 September 2022.

Issuer: Schahin II Finance Company (SPV) Limited

Senior Secured Regular Bond/Debenture due 2022 Withdrawn,
previously rated C

Outlook Actions:

Outlook, Changed To Rating Withdrawn From Stable

RATINGS RATIONALE

Based on the last available report from the indenture trustee of 23
December 2015, the indenture trustee has filed an admiralty claim
in the United Kingdom against Dleif Drilling LLC, the owner of the
drilling vessel, in the amount of US$678.4 million, comprising
principal of US$651.5 million and interest of US$26.9 million. The
vessel, which is the main piece of collateral, has been arrested by
the English Admiralty court authorities and is currently under
writ. Since the trustee's last report, Moody's has not received
sufficient information to support the adequate maintenance of the
rating.

The C rating incorporates both the payment default that occurred in
September 2015 and Moody's view of the expected recovery for
Schahin II's Notes' holders. Moody´s assumptions consider the
liquidation value of the collateral, which has been negatively
affected by the April 17th filing for creditor protection under
Brazilian Law by several Schahin Group entities, including the
former operator of the Project, Schahin Petroleo e Gas (unrated),
as well as the termination by Petroleo Brasileiro S.A. -- Petrobras
of the long-term charter and services agreements. Moody´s
understands that since the termination of the contracts in May
2015, the Project has failed to enter into new charter or services
agreements, thus causing a further deterioration of Schahin II's
liquidity.

The rating and outlook also reflect the complexity of realizing the
main piece of collateral (the drilling vessel) which Moody's
expects will involve legal and regulatory hurdles, and the
uncertainty of disposition value, which has been significantly
affected by a deteriorating oil price environment.

Schahin II Finance Company (SPV) Limited is a special purpose
limited liability company established under the laws of the Cayman
Islands. The Project's underlying drilling vessel, Sertao, is owned
by Dleif Drilling LLC, a Delaware limited liability corporation,
which was set up to charter the vessel to Petrobras for the
drilling of oil and gas wells up to a maximum depth of 11,400
meters in waters with a maximum depth of 3,000 meters.


SEAL123 INC: Plan Trustee Wants Removal Period Moved to July 11
---------------------------------------------------------------
The Seal123, Inc., Liquidation Trust -- through META Advisors, LLC,
the liquidation trustee appointed under Seal123's confirmed Chapter
11 plan -- in January 2016 filed a motion asking the Court to
extend by 180 days through July 11, 2016, the period within which
the Trust may remove actions pursuant to 12 U.S.C. Sec. 1452.

The Debtors are parties to actions currently pending in the courts
of certain states and federal district courts.  Pursuant to the
Plan, the Liquidation Trust is the representative of the Debtors'
estates and all of the Liquidation Trust Assets have been
transferred to the estates.  The Liquidation Trust Assets includes
all Assets of the estates.

The Liquidation Trust, on behalf of the Debtors' estates, believes
that it is prudent to seek an additional extension of the time to
seek removal to protect the rights of the Liquidation Trust to
remove these Actions.

The Debtor's Plan only recently became effective on Dec. 31, 2015.
The Liquidation Trustee and its professionals are getting up to
speed and have not had sufficient time to review the Actions to
determine if any should be removed pursuant to Bankruptcy Rule
9027(a).  Accordingly, the Liquidation Trust submits that extending
the Current Removal Deadline is in the best interests of the
Liquidation Trust, the Debtors' estates, and creditors.

                          About Wet Seal

The Wet Seal, Inc., et al., are retailers selling fashion apparel
and accessory items designed for female customers aged 13 to 24
years old.

The Company, and three affiliates -- The Wet Seal Retail,
Inc., Wet Seal Catalog, Inc., and Wet Seal GC, LLC -- filed for
separate Chapter 11 petitions (Bankr. D. Del. Case Nos. 15-10081
to 15-10084) on Jan. 15, 2015.  The Wet Seal, Inc., disclosed
$215,254,952 in assets and $60,598,968 in liabilities as of the
Chapter 11 filing.

The Hon. Christopher S. Sontchi presides over the jointly
administered cases.  Maris J. Kandestin, Esq., and Michael R.
Nestor, Esq., at Young Conaway Stargatt & Taylor, LLP; Lee R.
Bogdanoff, Esq., Michael L. Tuchin, Esq., David M. Guess, Esq.,
and Jonathan M. Weiss, Esq., at Klee, Tuchin, Bogdanoff & Stern
LLP; and Paul Hastings LLP, serve as the Debtors' Chapter 11
counsel.  FTI Consulting serves as the Debtors' restructuring
advisor.  The Debtors' investment banker is Houlihan Lokey.  The
Debtors tapped Donlin, Recano & Co., Inc. as claims and noticing
agent.  

The petitions were signed by Thomas R. Hillebrandt, interim chief
financial officer.

B. Riley, the original DIP lender and plan sponsor, is represented
by Van C. Durrer, II, Esq., at Skadden, Arps, Slate, Meagher &
Flom LLP.

Versa Capital Management, LLC, and its affiliate, Mador Lending,
LLC, which was selected as the successful bidder at an auction, is
being advised by Greenberg Traurig LLP, Klehr Harrison Harvey
Branzburg LLP, and KPMG LLP.  

The U.S. Trustee has appointed an Official Committee of Unsecured
Creditors.  The Committee retained Pachulski Stang Ziehl & Jones
LLP as its counsel and Province Inc. as its financial advisor.

The Wet Seal, Inc., changed its name to "Seal123, Inc." on
April 17, 2015, in accordance with the asset purchase agreement
with Mador Lending, LLC, an affiliate of Versa Capital Management,
LLC, as buyer.

                           *     *     *

The Court on Oct. 30, 2015, entered an order confirming the First
Amended Joint Plan of Liquidation proposed by the Debtors and the
Creditors Committee.  The Plan became effective on Dec. 31, 2015.
The Plan provided for the establishment of a liquidation trust for
the benefit of holders of general unsecured claims.  META Advisors
LLC was appointed as liquidation trustee.  A copy of the Plan
confirmation Order is available for free at:

    http://bankrupt.com/misc/Shasta_Ent_444_Am_Cash_Ord.pdf


SFX ENTERTAINMENT: To Be Removed from Nasdaq Listing on March 4
---------------------------------------------------------------
The Nasdaq Stock Market, Inc., has determined to remove from
listing the common stock of SFX Entertainment, Inc., effective at
the opening of the trading session on March 4, 2016.

Based on review of information provided by the Company, Nasdaq
Staff determined that the Company no longer qualified for listing
on the Exchange pursuant to Listing Rules 5101, 5110(b), IM-5101-1,
and 5450(a)(1).

The Company was notified of the Staffs determination on February 1,
2016.

The Company did not appeal the Staff determination to the Hearings
Panel, and the Staff determination to delist the Company became
final on February 10, 2016.

                      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.


SHASTA ENTERPRISES: Trustee Can Use Cash Collateral Until June 30
-----------------------------------------------------------------
Hank M. Spacone, the Chapter 11 Trustee of Shasta Enterprises,
sought and obtained an order authorizing him to use cash collateral
until June 30, 2016.

On Dec. 24, 2015, the Chapter 11 Trustee asked the Bankruptcy Court
for an order:

     (1) authorizing the Trustee to continue to use cash
         collateral for the six month period of Jan. 1, 2016
         through Jan. 30, 2016,

     (2) granting secured lenders Joe L. Curto and L. Lavone
         Curto, as co-trustees of the Curto Family Trust and
         Redding Bank of Commerce, replacement liens on the same
         terms and conditions as previously authorized by the
         Court in its order authorizing the use of cash collateral
         through Dec. 31, 2015, and

     (3) authorizing the Trustee to make monthly adequate
         protection payments to the Lenders.

The Proposed Budget is similar to the most recent budget that was
approved by the Court in August 2015 Order, except that the
proposed total adequate protection amount will be reduced from
$20,000 per month to $5,000 per month (assuming the timely closing
of 250 Hemsted) and the income and expenses have been adjusted
based upon the sale or other disposition of certain properties.

The Chapter 11 Trustee noticed a hearing on Dec. 28, 2015 on his
motion for authority to sell the real property located at 250
Hemsted Drive, Redding, CA, a commercial property with existing
tenants, with a close of escrow to occur no later than Jan. 15,
2015.  Upon the sale of 250 Hemsted, the Estate will no longer have
the income and expenses related to that property, and the Estate
will no longer hold any real property collateral of Redding Bank.

The Motion came for hearing on Jan. 11, 2016.

On Jan. 14, 2016, Judge Michael S. McManus entered an order
authorizing the Trustee to use cash collateral until June 30, 2016.
Then, on Jan. 18 Judge McManus entered an amended order solely to
include the budget, which was inadvertently omitted by the Trustee
from the previous order.  A copy of the Amended Order is available
for free at:

       http://bankrupt.com/misc/Shasta_Ent_444_Am_Cash_Ord.pdf

The Cash Collateral Order also provides that:

   * Cash collateral will not be used to pay for the salaries to
the Debtor's two general partners, for the country club dues, or
for fees of court appointed professionals.

   * The Trustee may maintain all rents collected by the estate in
one comingled cash collateral account.  To the extent the liens of
Redding Bank and Curto do not extend to the cash collateral account
pursuant to 11 U.S.C. Sec. 522(b)(2), they are granted replacement
liens.  

   * As further adequate protection, the Trustee is authorized to
pay Curto adequate protection payments totaling $5,000 per month;
provided, however, that if the sale of 250 Hemsted does not close
by Jan. 15, 2016, the Trustee will make adequate protection
payments of $20,000 to be paid pro rata to the Lenders (Redding
Bank and Curto) for January 2016 and each month thereafter that 250
Hemsted is property of the estate for the entire month, subject to
the monthly adequate protection payments being reduced to a minimum
of $5,000 per month to be paid to Curto beginning in the month that
250 Hemsted will no longer be property of the estate.

   * The Trustee may seek further o r modified use of cash
collateral, and the Lenders may seek to restrictor modify use of
cash collateral, on not less than 14-days' notice with opposition
to be filed no later than 7 days before the hearing.

Hank M. Spacone, Chapter 11 Trustee, is represented by:

          Donald W. Fitzgerald, Esq.
          Jason E. Rios, Esq.
          FELDERSTEIN FITZGERALD WILLOUGHBY & PASCUZZI LLP
          400 Capitol Mall, Suite 1750
          Sacramento, CA 95814
          Telephone: (916)329-7400
          Facsimile: (916)329-7435
          E-mail: dfitzgerald@ffwplaw.com
                  jrios@ffwplaw.com

                     About Shasta Enterprises

Redding, California-based Shasta Enterprises, dba Vidal Vineyards,
dba Silverado Knolls, dba Villa Vidal Vineyards, sought bankruptcy
protection (Bankr. E.D. Cal. Case No. 14-30833) on Oct. 31,
2014. The petition was signed by Antonio Rodriguez, general
partner.

Judge Michael S. McManus presides over the case.  The Debtor's
counsel is David M. Brady, Esq., at Law Office of Cowan & Brady,
in Redding, California.

The Debtor disclosed total assets of $33.4 million and total debt
of $21.5 million.

The Court, on Dec. 29, 2014, approved the appointment of Hank
Spacone as the Chapter 11 trustee of the Debtor's estate.


SHERWIN ALUMINA: United Steelworkers Appointed as Committee Member
------------------------------------------------------------------
The Office of the U.S. Trustee appointed United Steelworkers to
Sherwin Alumina Company LLC's official committee of unsecured
creditors.  

United Steelworkers replaced Occidental Chemical Corp., which
resigned as member of the committee, according to a filing with the
U.S. Bankruptcy Court for the Southern District of Texas.

The unsecured creditors' committee is now composed of:

     (1) CCC Group, Inc.
         P.O. Box 200350
         San Antonio, TX 78220
         Attn: Joe A Garza, Jr.
         (210) 666-7796 Telephone
         (210) 661-6060 Facsimile

     (2) Cegertec Worley Parsons, Inc.
         575 North Diary Ashford Street
         Houston, TX 77079
         Attn: Timothy Evered
         (713) 354-5481 Telephone
         (713) 407-5097 Facsimile

     (3) Host Terminals, Inc.
         150 West Main Street, Suite 1600
         Norfolk, VA 23510
         Attn: Charles R. Bowman
         (757) 627-6286 Telephone
         (757) 627-9763 Facsimile

     (4) GHX Industrial, LLC
         3430 S. Sam Houston Pkwy East, Suite 500
         Houston, TX 77047
         Attn: Daniel D. Maddox
         (713) 579-3133 Telephone
         (713) 222-8347 Facsimile

     (5) United Steelworkers
         60 Boulevard of the Allies, Room 807
         Pittsburgh, PA 15222
         Attn: David R. Jury
         (412) 562-2545 Telephone
         (412) 562-2574 Facsimile

                     About Sherwin Alumina

Sherwin Alumina Company, LLC and Sherwin Pipeline, Inc. filed
Chapter 11 bankruptcy petitions (Bankr. S.D. Tex. Case Nos.
16-20012 and 16-20013, respectively) on Jan. 11, 2016.  Thomas
Russell signed the petitions as authorized signatory.  The Debtors
estimated both assets and liabilities in the range of $100 million
to $500 million.  Judge David R Jones has been assigned the case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Zack A. Clement PLLC as local counsel, Huron Consulting Services
LLC as financial advisor and Kurtzman Carson Consultants LLC as
claims, notice and balloting agent.

Sherwin operates an alumina plant in Gregory, Texas that produces
aluminum oxide (or alumina), which is the primary component of
aluminum, from bauxite.  Sherwin produces alumina through the
"Bayer Process," a refining technique that produces alumina from
bauxite ore by dissolving the bauxite in a caustic solution.


SINOFRESH HEALTHCARE: Amends 2007 Annual Report
-----------------------------------------------
SinoFresh Healthcare, Inc. filed an amended annual report on
Form 10-K/A for the fiscal year ended Dec. 31, 2007, as filed with
the Securities and Exchange Commission on May 15, 2008, to amend
and restate Item 8A Controls and Procedures in order to include a
management report on its assessment of the Company's internal
control over financial reporting as required by Item 8A(T) of Part
II of the Annual Report.  

"Our management, with the participation of our Certifying Officer,
evaluated the effectiveness of the Company's internal control over
financial reporting as of December 31, 2007.  In making this
assessment, our management used the criteria set forth by the
Committee of Sponsoring Organizations of the Treadway Commission
(COSO) in Internal Control -- Integrated Framework.  Based on this
evaluation, our management, with the participation of the
Certifying Officer, concluded that, as of December 31, 2007, our
internal control over financial reporting was not effective."

"Specifically, management has identified the following
deficiencies: The Company has not properly segregated duties as one
or two individuals initiate, authorize, and complete all
transactions.  The Company has not implemented measures that would
prevent the individuals from overriding the internal control
system.  The Company does not have an audit committee composed of
independent directors or any individual on the audit committee
qualified as an Audit Committee Financial Expert, as that term is
defined by the rules of the Securities and Exchange Commission
("SEC") and in compliance with the Sarbanes-Oxley Act of 2002.
Further, the Company lacks a Chief Financial Officer and Controller
who is primarily responsible for our public disclosures such as
financial reporting and oversight of the internal control over
financial reporting.  It is the Company's intent to remedy these
deficiencies as adequate working capital is raised and available to
fund the segregation of duties.  Also, the Company anticipates it
would be able to attract an Audit Committee Financial Expert onto
its Board upon reaching certain capital/cash objectives."

"The Company does not believe that these control deficiencies have
resulted in deficient financial reporting.  The Chief Executive
Officer is aware of his responsibilities under the SEC's reporting
requirements and personally certifies that the financial statements
fairly present the financial condition, results of operations and
cash flows of the Company as of, and for, the periods covered by
this Annual Report.  In November 2007, the Company hired an
independent consulting firm to assist the Company in preparing the
financial statements for our periodic reporting.  In September
2008, the Company's independent consulting firm assisted the CEO in
evaluating its internal control over financial reporting using the
framework set forth in COSO.  Due to the size and nature of the
Company and its business, segregation of all conflicting duties may
not always be possible and may not be economically feasible."

"Because of its inherent limitation, internal control over
financial reporting may not prevent or detect misstatements.  Also,
projections of any evaluation of effectiveness to future periods
are subject to the risk that controls may become inadequate because
of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate."

"Further, there were changes in the Company's internal control over
financial reporting identified in connection with the evaluation
required by paragraph (d) of Rule 13a-15 of the Exchange Act that
is reasonably likely to materially affect the Company's internal
control over financial reporting.  In October 2007, the Company's
Controller resigned.  In November 2007, the Company retained an
independent consulting firm to assist the Company to prepare its
financial statements for the fourth quarter and for the year ended
December 31, 2007."

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

                     http://is.gd/J9UBC8

                       About Sinofresh

Sinofresh Healthcare Inc. filed a Chapter 11 bankruptcy petition
(Bankr. M.D. Fla. Case No. 15-12776) on Dec. 29, 2015.  The
petition was signed by David R. Olund as CEO.  The Debtor estimated
assets in the range of $0 to $50,000 and liabilities of $1 million
to $10 million.  Lawrence Klepetko, Esq., represents the Debtor as
counsel.

Sinofresh is a pharmaceutical company engaged in the research,
development and marketing of novel therapies to treat inflammatory
and infectious diseases and disorders of the upper respiratory
system. Our principal product is SinoFresh Nasal and Sinus Care,
which the Company markets through national drug and food chain
stores, including, Wal-Mart, Walgreens, CVS, Osco Drug, Publix
Super Markets, Rite Aid, Sav-on Drugs, and Duane Reade.  The
Company is seeking to expand its retail distribution network to
include the remainder of the chain stores the Company is already
servicing, other national food and drug chain stores and
independent pharmacies.


SOMERSET REGIONAL: Bid to Hire IAC as Broker Challenged
-------------------------------------------------------
People's United Equipment Finance Corp. and the official committee
of unsecured creditors in the Chapter 11 case of Somerset Regional
Water Resources, LLC, are seeking to block the Debtor's attempt to
hire a broker or auctioneer.

The Debtor is seeking to hire Industrial Assets Corp. to market and
sell the Debtor's business assets located in Tunkhannock, PA and
Somerset, PA.  The Debtor proposes to pay Industrial Assets Corp.
$50,000 of the gross sales price of assets sold.  A buyer’s
premium will be borne by the purchasers.

The assets are to be sold on an "as-is, where-is" basis.

Robert O Lampl, the Debtor's bankruptcy counsel, says neither
Venice Gamble, nor anyone at Industrial Assets Corp. has any
connection with the Debtor nor represents any interest adverse to
the Debtor or any other parties-in-interest.

People's United said the Debtor filed this Application prior to the
appointment of the chapter 11 trustee and therefore the relief as
requested in the Application may be moot.  People's United also
objects to the extent that the Debtor is seeking to sell any of the
assets subject to People's United's security interest in any
collateral.

People's United said the Debtor is obligated to it under, inter
alia, approximately twenty promissory notes executed by the Debtor,
as maker, in favor of People's United, as holder, between February
23, 2012 and June 12, 2015 in the aggregate original face amount
$7,328,324.  As of the Petition Date, the amount due and owing,
according to People's United, exceeded $3.6 million which
obligations are secured by perfected purchase money security
interests in specific items of equipment and goods, and a blanket
security interest in all of the Debtor's assets including goods,
inventory, equipment, accounts, accounts receivable, chattel paper,
documents, instruments, contract rights, general intangibles,
investment property, securities entitlements, fixtures and other
property owned by the Debtor, and the proceeds of the collateral,
substitutions, replacement parts, additions and accessions.

The Committee echoes People's United's argument.  The Committee
said the Bankruptcy Court should wait to enter an order on the
Application until the chapter 11 trustee has had an opportunity to
review and assert a position on the Application.  

Counsel to People's United Equipment Finance Corp:

     Beverly Weiss Manne, Esq.
     Jillian Nolan Snider, Esq.
     TUCKER ARENSBERG, P.C.
     1500 One PPG Place
     Pittsburgh, PA 15222
     Tel: (412) 566-1212
     Fax: (412) 594-5619

Counsel to Creditors Committee:

     Crystal H. Thornton-Illar, Esq.
     John M. Steiner, Esq.
     Leech Tishman Fuscaldo & Lampl, LLC
     525 William Penn Place, 28th Floor
     Pittsburgh, PA 15219
     Tel: (412) 261-1600
     Fax: (412) 227-5551
     E-mail: Cthornton-illar@leechtishman.com
             jsteiner@leechtishman.com

Industrial Asset Corp. may be reached at:

     Venice Gamble
     Industrial Assets Corp.
     2301 Belgrave Ave
     Huntington Park, CA 90255
     Tel: (323) 587-1887

The firm's Web site is http://www.iamachinery.com/and the firm is
led by:

     Steven Mattes, CEO
     Tel: (818) 508-7034 ext 203
     E-mail: smattes@mattesdiversified.com

          - and -

     Rick Kruger, President
     Tel: (323) 587-1887
     E-mail: rick@iamachinery.com

                      About Somerset Regional

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. Compass Advisory Partners, LLC
serves as financial advisors to the Debtor.

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.

On Feb. 9, 2016, the Court approved the U.S. trustee's appointment
of Charles Zebley, Esq., as Chapter 11 trustee for the company.
Somerset Trust Co., which provided loan to get Somerset Regional
through bankruptcy, sought appointment of an outside trustee to
oversee the company's operations after talks to expand the role of
the Debtor's chief restructuring officer in lieu of a trustee
deteriorated.


SOMERSET REGIONAL: Ordered to Surrender 22 Vehicles to PACCAR
-------------------------------------------------------------
Judge Jeffrey A. Deller of the United States Bankruptcy Court for
the Western District of Pennsylvania (Johnstown), at PACCAR
Financial Corp.'s request, directed Somerset Regional Water
Resources, LLC, to surrender 22 vehicles to PACCAR.

PACCAR filed a motion asking the Court to lift the automatic stay
to allow it to exercise its state law rights regarding 22
commercial vehicles covered by contracts with the Debtor.  PACCAR
alleged that it holds a properly perfected first lien arising from
the Security Contracts in relation to its loan transactions with
the Debtor.  PACCAR related that the Debtor failed to make payments
to the Contracts when due, and it has received zero postpetition
payments in spite of the fact that the Debtor has possession of all
the Vehicles.  PACCAR told the Court that it is concerned because
the Debtor is driving and using the Vehicles, thus exposing the
Vehicles to rapid depreciation.  PACCAR asserted that there is no
material equity in the Vehicles for the benefit of the Debtor, the
bankruptcy estate or creditors.

The Debtor, in response, asserted, among other things, that it is
currently determining which Vehicles are necessary for a
reorganization.  The Debtor told the Court that that it will return
any Vehicles to PACCAR that are not necessary for its
reorganization and will pay adequate protection going forward to
PACCAR for any Vehicles that are necessary for its reorganization.

The Official Committee of Unsecured Creditors joined in the
Debtor's Response and reserved its rights to the extent it is
determined that there is equity in the Vehicles.

Somerset Regional Water Resources, LLC is represented by:

     Robert O Lampl, Esq.
     John P. Lacher, Esq.
     David L. Fuchs, Esq.
     Ryan J. Cooney, Esq.
     ROBERT O LAMPL, ATTORNEY AT LAW
     960 Penn Avenue, Suite 1200
     Pittsburgh, PA 15222
     Telephone: (412) 392-0330
     Facsimile: (412) 392-0335
     Email: rlampl@lampllaw.com

The Official Committee of Unsecured Creditors is represented by:

     John M. Steiner, Esq.
     LEECH TISHMAN FUSCALDO & LAMPL, LLC
     525 William Penn Place, 28th Floor
     Pittsburgh, PA 15219
     Telephone: (412) 261-1600
     Facsimile: (412) 227-5551
     Email: jsteiner@leechtishman.com

PACCAR Financial Corporation is represented by:

     Mark G. Claypool, Esq.
     KNOX McLAUGHLIN GORNALL & SENNETT, P.C.
     120 West Tenth Street
     Erie, PA 16501
     Telephone: (814) 459-2800
     Email: mclaypool@kmgslaw.com

                      About Somerset Regional

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.

                         *      *     *

On Feb. 9, 2016, the Court approved the U.S. trustee's appointment
of Charles Zebley, Esq., as interim trustee for the company.
Somerset Trust Co., which provided loan to get Somerset Regional
through bankruptcy, sought appointment of an outside trustee to
oversee the company's operations after talks to expand the role of
the Debtor's chief restructuring officer in lieu of a trustee
deteriorated.


SOMERSET REGIONAL: Wants to Hire Colliers to Sell 12 Properties
---------------------------------------------------------------
Somerset Regional Water Resources, LLC, seeks Court approval to
hire a real estate broker in connection with the sale of 12
properties.

The Debtor believes that Colliers International/Pittsburgh is
experienced in these matters and is well qualified to perform all
of the Real Estate Broker services necessary and required by the
Debtor in the marketing and sale of those properties.  Colliers
International/Pittsburgh will be paid at the commission rate of 6%
of the sales price of the properties sold, plus an additional
commission of 1% if the property is sold to a prospective purchaser
who is represented by an Outside Broker, the Debtor said.

Neither Gregory HM Broujos, Managing Principal and Broker of
Record, nor anyone at Colliers International/Pittsburgh, has any
connection with the Debtor nor represents any interest adverse to
the Debtor or any other parties-in-interest, Robert O Lampl, Esq.,
the Debtor's counsel, said.

The firm may be reached at:

     Gregory HM Broujos
     Managing Principal & Broker-of-Record
     Colliers International/Pittsburgh
     Two Gateway Center
     603 Stanwix Street, Suite 125
     Pittsburgh, PA 15222
     E-mail: gregg.broujos@colliers.com

                      About Somerset Regional

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. Compass Advisory Partners, LLC
serves as financial advisors to the Debtor.

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.

People's United Equipment Finance Corp, a secured creditor, is
represented by Beverly Weiss Manne, Esq., and Jillian Nolan Snider,
Esq., at Tucker Arensberg.

On Feb. 9, 2016, the Court approved the U.S. trustee's appointment
of Charles Zebley, Esq., as Chapter 11 trustee for the company.
Somerset Trust Co., which provided loan to get Somerset Regional
through bankruptcy, sought appointment of an outside trustee to
oversee the company's operations after talks to expand the role of
the Debtor's chief restructuring officer in lieu of a trustee
deteriorated.


SOMERSET REGIONAL: Wants to Hire RMB Realty to Sell 5 Properties
----------------------------------------------------------------
Somerset Regional Water Resources, LLC, informed the Bankruptcy
Court in Johnstown, Pennsylvania, that it intends to sell these
five Somerset area properties:

     a) 264 Market Street - Single family residence;
     b) 3034 Stutzmantown Road - Single family residence;
     c) Stoystown Road - 29 acres commercially zoned vacant
        land;
     d) Berlin Plank Road - 5.7 acres commercially zoned
        vacant land;
     e) Garrett Shortcut Road - 6.4 acres un-zoned vacant land

The Debtor seeks the Court's authority to employ RMB Realty, which,
the Debtor believes, is experienced in these matters and is well
qualified to perform all of the Real Estate Broker services
necessary and required in the marketing and sale of those
properties.

The Debtor proposes to pay RMB Realty a commission rate of 6% of
the sales price of the properties sold.

Neither R. Michael Boland, nor anyone at RMB Realty has any
connection with the Debtor nor represents any interest adverse to
the Debtor or any other parties-in-interest, Robert O Lampl, Esq.,
the Debtor's counsel, said.

The firm may be reached at:

     R. Michael Boland
     RMB Realty
     2279 W. Bakersville-Edie Road
     Somerset, PA 15501

                      About Somerset Regional

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. Compass Advisory Partners, LLC
serves as financial advisors to the Debtor.

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.

People's United Equipment Finance Corp, a secured creditor, is
represented by Beverly Weiss Manne, Esq., and Jillian Nolan Snider,
Esq., at Tucker Arensberg.

On Feb. 9, 2016, the Court approved the U.S. trustee's appointment
of Charles Zebley, Esq., as Chapter 11 trustee for the company.
Somerset Trust Co., which provided loan to get Somerset Regional
through bankruptcy, sought appointment of an outside trustee to
oversee the company's operations after talks to expand the role of
the Debtor's chief restructuring officer in lieu of a trustee
deteriorated.


SRAM LLC: S&P Lowers Corp. Credit Rating to 'B', Outlook Stable
---------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Chicago-based SRAM LLC to 'B' from 'B+'.  The
outlook is stable.

At the same time, S&P is lowering the issue-level rating on the
company's senior secured credit facilities (consisting of a $40
million revolver due 2018 and a $715 million term loan due 2020)
one notch to 'B' from 'B+', in line with S&P's recovery notching
criteria and the lower corporate credit rating.  However, S&P's
'3L' recovery rating is unchanged and represents meaningful
recovery (50% to 70%; the lower end of the range) prospects for
lenders in the event of a payment default.

"The downgrade reflects an updated base-case forecast for EBITDA
through 2017 that is lower than we previously anticipated, in a
manner that will likely cause lease-adjusted debt to EBTIDA to
exceed 5x through 2017, which was our downgrade threshold," said
Standard & Poor's credit analyst Emile Courtney.

"We are lowering our EBITDA forecast on SRAM through 2017 primarily
due to uncertainty regarding the timing for recovery in order
volumes for SRAM's bicycle components in both the original
equipment manufacturer (OEM) and aftermarket channels, which could
result in lower gross and EBITDA margin levels through 2017 than we
previously anticipated.  Despite our understanding that there are
good current bicycle ridership trends and good channel feedback on
model year 2017 products (to be introduced mid-2016), risks
regarding the timing for volume recovery are related to the
following: our belief there may be some residual negative impact on
orders due to a strong U.S. dollar increasing the cost of bikes
sold to European OEMs (a significant portion of SRAM components are
priced in U.S. dollars, including volumes produced in Taiwan; also,
a strengthening in the Euro, if it were to occur, could favorably
impact order volumes); an increase in competitive new products in
the marketplace; potential uncertainty regarding recovery in order
volumes due to distribution changes in the European aftermarket
channel; potential order disruption due to the growth of the
Internet channel that might cause some retailers to stock fewer
parts, and a still-challenging high-end bike market," S&P said.

"As a result, we have lowered our base-case forecast for EBITDA,
resulting in lease-adjusted debt to EBITDA sustained above 5x
through 2017.  Specifically, we expect total lease-adjusted debt to
EBITDA to be in the high-5x area in 2016 and in the low-5x area in
2017, which is in line with our highly leveraged financial risk
assessment.  Partly offsetting high leverage are good EBITDA
interest coverage anticipated in the high-3x to low-4x range
through 2017 and positive discretionary cash flow that we believe
SRAM will use to repay debt," S&P noted.

The stable outlook reflects S&P's expectation for order volumes to
begin to stabilize by the end of 2016 and good EBITDA coverage of
interest expense in the high-3x to low-4x range through 2017.
Additionally, S&P believes that the company will continue to
dedicate available free cash flow toward paying down debt.


STAR COMPUTER: Avila Rodriguez Okayed as Real Estate Counsel
------------------------------------------------------------
Star Computer Group, Inc., sought and obtained permission from the
U.S. Bankruptcy Court for the Southern District of Florida to
employ Avila Rodriguez Hernandez Mena & Ferri LLP as special real
estate and corporate counsel nunc pro tunc to Dec. 5, 2015.

The Court also approved the flat fee of $7,500.00, plus expenses
for the services of Avila Rodriguez in connection with the sale of
the Debtor's warehouse, and the hourly rates set forth in the
Application for corporate services.

The Debtor are directed to advise the Official Committee of
Unsecured Creditors, through their respective counsel, before Avila
Rodriguez undertakes performance of services as corporate counsel
to the Debtor.

The Debtor has determined that specialized real estate expertise is
required to advance the estate's interests, and the firm's lawyers
and paralegals at Avila Rodriguez are already familiar with the
Debtor's interest in the property.

Prior to the Debtor's bankruptcy filing, the firm provided legal
advice to the Debtor and its subsidiaries relating to various
corporate, financing, real estate and transactional matters,
including without limitation, the purchase of its warehouse.

Avila Rodriguez' Asnardo Garro and Monica Cunill Fals will
primarily represent the Debtor in connection with the
sale of its warehouse.  

Asnardo Garro, a partner at the firm with offices located at 2525
Ponce de Leon Blvd., Suite 1225, Coral Gables, submitted a
declaration, and an amended one, in support of the Debtor's
application.

Mr. Garro said that the Debtor has agreed to pay a flat fee of
$7,500, plus expenses for the services of the firm in connection
with the sale of the Debtor's warehouse.  The Debtor proposed to
pay the firm for corporate services on an hourly basis.  His hourly
rate is $460 and other attorney and paralegal hourly rates range
from $145 to $605.  

Mr. Garro assured the Court that the firm is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

The firm may be reached at:

     Asnardo Garro, Esq.
     Monica Cunill Fals, Esq.
     AVILA RODRIGUEZ HERNANDEZ MENA & FERRI LLP
     2525 Ponce de Leon Blvd., Suite 1225
     Coral Gables, FL 33134
     Tel: (305) 779-3573
     E-mail: agarro@arhmf.com

                    About Star Computer Group

Star Computer Group, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-28100) on Oct. 12, 2015.  The
petition was signed by James S. Howard as chief restructuring
officer.

The Debtor listed assets of $22.7 million and liabilities of $68.3
million.

Founded in 1994 with its office located at 2175 N.W. 115 Avenue,
Miami, FL 33172, the Company was engaged in the business of
supplying wholesale computers, smart phones, and related equipment
and software to dealers and wholesales in Latin America.  The
Company is jointly owned by Henry Waissmann (54%) and Henry Aguilar
(46%).

The Debtor has engaged Kozyak, Tropin & Throckmorton, P.A., as
bankruptcy counsel, GlassRatner as financial advisor, Fuerst
Ittleman David & Joseph PL as special tax counsel, and Cherry
Bekaert, LLP as accountants.

Judge Jay Cristol is assigned to the case.


STAR COMPUTER: Taps Cherry Bakaert and Monte Gordon as Accountants
------------------------------------------------------------------
Star Computer Group, Inc., sought and obtained permission from the
U.S. Bankruptcy Court for the Southern District of Florida to
employ Cherry Bakaert, LLP and Monte Gordon, CPA as accountants
nunc pro tunc to Oct. 29, 2015.

According to the Debtor, the firm will, among other things:

   1. prepare 2014 and 2015 federal and state/local (as
      applicable) corporate income tax returns; and

   2. prepare 2011-2013 federal and state/local (as applicable)
      amended corporate income tax returns;

The Debtor also stated that any additional services and advice will
be subject to separate arrangements made at the time requested or
invoiced under the firm's customary billing practices.

Cherry Bekaert will seek from the Debtor payment for compensation
on an hourly basis for all Engagement Personnel, and reimbursement
of actual and necessary expenses incurred by Cherry Bekaert.  

Monte Gordon -- mgordon@cbh.com -- a partner at Cherry Bekaert,
with offices located at 2525 Ponce de Leon Blvd., Suite 1040, Coral
Gables, submitted an amended declaration in support of the
application disclosing that the firm is eligible for employment by
the Debtor.

                    About Star Computer Group

Star Computer Group, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-28100) on Oct. 12, 2015.  The
petition was signed by James S. Howard as chief restructuring
officer.

The Debtor listed assets of $22.7 million and liabilities of $68.3
million.

Founded in 1994 with its office located at 2175 N.W. 115 Avenue,
Miami, FL 33172, the Company was engaged in the business of
supplying wholesale computers, smart phones, and related equipment
and software to dealers and wholesales in Latin America.  The
Company is jointly owned by Henry Waissmann (54%) and Henry
Aguilar
(46%).

The Debtor has engaged Kozyak, Tropin & Throckmorton, P.A., as
bankruptcy counsel, GlassRatner as financial advisor, Fuerst
Ittleman David & Joseph PL as special tax counsel, and Cherry
Bekaert, LLP as accountants.

Judge Jay Cristol is assigned to the case.


SUMMIT MATERIALS: Moody's Gives 'Caa1' Rating on Proposed Sr. Notes
-------------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating to the company's
proposed $250 million senior notes. At the same time, Moody's
upgraded Summit Materials LLC's Corporate Family Rating to B2 from
B3, Probability of Default Rating to B2-PD from B3-PD, the senior
secured revolving credit facility to Ba3 from B1, the senior
secured term loan B to Ba3 from B1, and the senior unsecured notes
to Caa1 from Caa2. The proceeds from the offering will be used to
fund the acquisition of Boxley Materials Company, replenish cash
used for the acquisition of American Materials Company, and to pay
fees associated with the offering and acquisitions. On February 22,
2016, Summit announced that it signed a definitive agreement to
acquire Boxley Materials Company which is an aggregates-based,
vertically integrated construction materials company located near
Roanoke, Virginia. Summit acquired American Materials Company, a
sand a gravel company based in Wilmington, North Carolina on
February 5, 2016. The rating outlook is stable.

The following rating was assigned, and is subject to Moody's review
of final documentation and closing of the proposed $250 million
senior notes:

$250 million senior unsecured notes due 2022, assigned at Caa1
(LGD-5)

The following rating actions were taken:

Corporate Family Rating, upgraded to B2 from B3;

Probability of Default Rating, upgraded to B2-PD from B3-PD;

$235 million senior secured revolving credit facility due 2020,
upgraded to Ba3 (LGD-2) from B1 (LGD-2);

$650 million senior secured term loan B due 2022, upgraded to Ba3
(LGD-2) from B1 (LGD-2);

$650 million senior unsecured notes due 2023, upgraded to Caa1
(LGD-5) from Caa2 (LGD-5);

Speculative Grade Liquidity, revised to SGL-2 from SLG-3

The rating outlook is stable.

RATINGS RATIONALE

The ratings upgrade reflect Summit's growth in scale, expanded
geographic diversity and improvement in key credit metrics over the
last two years. Total revenue has grown to $1.4 billion for the
year ended January 2, 2016 from $916 million at year end December
28, 2013, and operating margin has improved to 11.1% from 4.1% over
the same period. Pro forma for the proposed $250 million senior
notes offering, adjusted debt to EBITDA is approximately 5.0x
compared to adjusted debt to EBITDA for the year ended January 2,
2016 at 4.5x, 5.7x for the year ended December 27, 2014, and 6.0x
for the year ended December 28, 2013. We expect continued operating
improvement in 2016, supported by healthy construction spending in
its end markets. Key credit metrics will also improve.

The B2 Corporate Family Rating balances Summit's growing scale,
market positions, improving operating margin and experienced
management team against the company's acquisitive growth model,
risks associated with execution and integration, geographic
concentration in Texas, and exposure to cyclical construction end
markets. The B2 rating also reflects Summit's high adjusted debt
leverage, the expectation that the company will remain acquisitive
and that financial leverage will fluctuate over time. Summit has
typically funded its acquisitions primarily with debt capital,
which temporarily diminishes the company's financial flexibility
until it realizes the full year benefit of EBITDA contributions. We
expect Summit to fund future acquisitions predominately with debt
capital and de-leverage through EBITDA growth. These swings in debt
leverage are incorporated into the company's B2 Corporate Family
Rating.

The stable outlook reflects Summits' scale, geographic
diversification and leadership position in its local markets, while
taking into account the company's debt leverage appetite and
acquisition growth strategy. The stable outlook also presumes that
the company will demonstrate organic growth over the near-term, as
evidenced by moderate increases in organic operating margins, as
well as maintain adequate liquidity to support its acquisitions and
seasonal cash flows.

Moody's indicated that the ratings could be upgraded if Summit
demonstrates healthy, organic operating performance. In addition,
the ratings could be upgraded should the company reduce adjusted
debt leverage below 4.0X and achieve adjusted EBIT to interest
above 2.0X, both on a sustainable basis and inclusive of Moody's
standard adjustments.

Alternatively, Moody's stated the ratings could be downgraded
should Summit's organic operating performance decline such that
adjusted debt leverage increases beyond 5.5X, adjusted EBIT to
interest declines below 1.5X, or operating margin declines below
7%, all for an extended period. This could result from decreased
construction spending, economic weakness or employment of a more
aggressive acquisition funding strategy. The ratings could also be
downgraded should liquidity deteriorate, or the company employs
large share repurchases or other shareholder friendly activities.

Summit Materials [NYSE: SUM] is a vertically integrated
construction materials company that supplies aggregates, cement,
ready-mixed concrete and asphalt in the United States and western
Canada. Summit is a geographically diverse, aggregates-based
business of scale that offers customers a single-source provider of
construction materials and related downstream products in the
residential, nonresidential, and public infrastructure end markets.
For the trailing twelve months ending January 2, 2016, the company
generated approximately $1.4 billion in revenue.


SUPERVALU: Bank Debt Trades at 5% Off
-------------------------------------
Participations in a syndicated loan under which SuperValu is a
borrower traded in the secondary market at 94.75
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.64 percentage points from the
previous week.  SuperValu pays 350 basis points above LIBOR to
borrow under the $1.485 billion facility. The bank loan matures on
March 21, 2019 and carries Moody's Ba3 rating and Standard & Poor's
BB- rating.  The loan is one of the biggest gainers and losers
among 247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


SWIFT ENERGY: Court Authorizes Joint Administration of Cases
------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware authorized the joint administration of the
Chapter 11 cases of Swift Energy Company, et al., under case number
15-12670.  The joint administration of the cases are for procedural
purposes only.

Bankruptcy Rule 1015(b) provides, in relevant part, "[i]f a joint
petition or two or more petitions are pending in the same court by
or against ... a debtor and an affiliate, the court may order a
joint administration of the estates."  The Debtors relate they are
"affiliates," as that term is defined in Section 101(2) of the
Bankruptcy Code.

"The joint administration of the Debtors' chapter 11 cases will
permit the Clerk of the Court to utilize a single general docket
for these cases and combine notices to creditors of the Debtors'
respective estates and other parties in interest," says Zachary I.
Shapiro, Esq., at Richards, Layton & Finger, P.A., counsel for the
Debtors.  "Entering an order directing joint administration of the
Debtors' chapter 11 cases will avoid the need for duplicative
notices, motions and applications, thereby saving time and
expense.
Joint administration also will enable parties in interest in each
of the above-captioned chapter 11 cases to be apprised of the
various matters before the Court in all of these cases," he adds.

According to Mr. Shapiro, because this is not a motion for the
substantive consolidation of the Debtors' estates, the rights of
parties-in-interest will not be prejudiced or otherwise affected
in any way by the entry of an order directing the joint
administration.

Headquartered in Houston, Texas, Swift Energy Company is an
independent energy company engaged in the exploration,
development,
production and acquisition of oil and natural gas properties.  Its
primary assets and operations are focused in the Eagle Ford trend
of South Texas and the onshore and inland waters of Louisiana.

Swift Energy Company and eight of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-12669 to
15-12677) on Dec. 31, 2015, with a Chapter 11plan of
Reorganization
that, among other things, exchanges the approximately $905.1
million outstanding on account of senior notes obligations for 96%
of the common equity in the Reorganized Debtors.

The petitions were signed by Alton D. Heckaman, Jr., the executive
vice president and CFO.  Judge Mary F. Walrath is assigned to the
cases.

The Debtors disclosed total assets of $1.02 billion and total debt
of $1.34 billion as of Sept. 30, 2015.

The Debtors engaged Jones Day as general counsel; Richards, Layton
& Finger, P.A., as local counsel; Lazard Freres & Co, LLC as
investment banker; Alvarez & Marsal North America LLC as financial
advisor; and Kurtzman Carson Consultants LLC as claims and
noticing
agent.

The Office of the U.S. Trustee appointed three creditors to the
Debtors' official committee of unsecured creditors.  Reed Smith
LLP represents the committee.


SWIFT ENERGY: Lazard Freres Approved as Investment Banker
---------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Swift Energy Company, et al., to employ Lazard Freres & Co. LLC, as
investment banker nunc pro tunc as of the Petition Date.

Lazard, along with the Debtors' other professionals, advised the
Debtors in their negotiations with the Debtors' existing secured
lenders and holders of a majority of the Debtors' unsecured notes.
The negotiations ultimately resulted in the execution of a
restructuring support agreement between the Debtors and the
Noteholder Committee.

Lazard Freres is expected to:

   (a) review and analyze the Debtors' business, operations and
financial projections;

   b) evaluate the Debtors' potential debt capacity in light of
their projected cash flows; and

   c) assist in the determination of a capital structure for the
Debtors.

Lazard will be compensated according to the fee structure:

   (a) a monthly cash fee in the amount of $150,000, payable on
Nov. 16, 2015, and on the sixteenth day of each month thereafter
until the earlier of the completion of the restructuring or the
termination of Lazard's engagement pursuant to Section 10 of the
Engagement Letter; provided however, that one half of the monthly
fees paid with respect to any month following the sixth month of
Lazard's engagement will be credited against any restructuring fee
or financing fee;

   b) a cash fee (a restructuring fee) payable at the closing of
any restructuring, including a Restructuring completed through a
"pre-packaged" or "pre-arranged" plan of reorganization, equal to
1.25% of the aggregate face value of the existing obligations
involved in the restructuring, provided, however, that if any
restructuring is consummated, the minimum restructuring fee will be
$2,000,000 and, the maximum restructuring fee will be $5,750,000;
provided, further, that if a restructuring is to be completed
through a "pre-packaged" or "pre-arranged" plan of reorganization,
the restructuring fee will be earned and payable upon consummation
of such plan of reorganization;

   c) a fee, one half of which will be payable upon the execution
of definitive documentation with respect to any financing and one
half of which will be payable upon closing of such financing, equal
to the total gross proceeds provided for in such financing
multiplied by 1.0% in the case of debt financing and 2.0% in the
case of equity or equity-linked financing.

During the 90 days immediately preceding the Petition Date, the
Debtors paid Lazard $550,000 in monthly fees and $62,345 in
expenses.  As of the Petition Date, the Debtors did not owe Lazard
for any fees or expenses incurred prior to the Petition Date.

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

                       About Swift Energy

Headquartered in Houston, Texas, Swift Energy Company is an
independent energy company engaged in the exploration, development,
production and acquisition of oil and natural gas properties.  Its
primary assets and operations are focused in the Eagle Ford trend
of South Texas and the onshore and inland waters of Louisiana.

Swift Energy Company and eight of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-12669 to
15-12677) on Dec. 31, 2015, with a Chapter 11plan of Reorganization
that, among other things, exchanges the approximately $905.1
million outstanding on account of senior notes obligations for 96%
of the common equity in the Reorganized Debtors.

The petitions were signed by Alton D. Heckaman, Jr., the executive
vice president and CFO.  Judge Mary F. Walrath is assigned to the
cases.

Swift Energy Company disclosed total assets of $416,358,243 plus an
undetermined amount and total liabilities of $1,233,022,421 plus an
undetermined amount.  Other Debtors disclosed total assets of $1.02
billion and total debt of $1.34 billion as of Sept. 30, 2015.

The Debtors engaged Jones Day as general counsel; Richards, Layton
& Finger, P.A., as local counsel; Lazard Freres & Co, LLC as
investment banker; Alvarez & Marsal North America LLC as financial
advisor; and Kurtzman Carson Consultants LLC as claims and noticing
agent.

The Office of the U.S. Trustee appointed three creditors to the
Debtors' official committee of unsecured creditors.  Reed Smith
LLP represents the committee.


SWIFT ENERGY: Lists $416-Mil. in Assets, $1.2-Bil. in Debts
-----------------------------------------------------------
Swift Energy Company filed with the U.S. Bankruptcy Court for the
its schedules of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                        $0
  B. Personal Property          $416,358,243*
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                              $324,900,000*
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                      $908,122,421*
                                 -----------      -----------
        Total                   $416,358,243*   $1,233,022,421*

* plus undetermined amount

Swift Energy Exploration Services, Inc., in a separate filing,
disclosed total assets of $0 plus as undetermined amount and total
liabilities of $147,000.

Executive Vice President and Chief Financial Officer Alton D.
Heckaman, Jr., signed the schedules.  Copies of the schedules are
available for free at

          http://bankrupt.com/misc/SwiftEnergy_SAL.pdf
      http://bankrupt.com/misc/SwiftEnergy_177_Jan29_SALs.pdf

                       About Swift Energy

Headquartered in Houston, Texas, Swift Energy Company is an
independent energy company engaged in the exploration,
development,
production and acquisition of oil and natural gas properties.  Its
primary assets and operations are focused in the Eagle Ford trend
of South Texas and the onshore and inland waters of Louisiana.

Swift Energy Company and eight of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-12669 to
15-12677) on Dec. 31, 2015, with a Chapter 11plan of
Reorganization
that, among other things, exchanges the approximately $905.1
million outstanding on account of senior notes obligations for 96%
of the common equity in the Reorganized Debtors.

The petitions were signed by Alton D. Heckaman, Jr., the executive
vice president and CFO.  Judge Mary F. Walrath is assigned to the
cases.

The Debtors disclosed total assets of $1.02 billion and total debt
of $1.34 billion as of Sept. 30, 2015.

The Debtors engaged Jones Day as general counsel; Richards, Layton
& Finger, P.A., as local counsel; Lazard Freres & Co, LLC as
investment banker; Alvarez & Marsal North America LLC as financial
advisor; and Kurtzman Carson Consultants LLC as claims and
noticing
agent.

The Office of the U.S. Trustee appointed three creditors to the
Debtors' official committee of unsecured creditors.  Reed Smith
LLP represents the committee.


T-L BRYWOOD: Has Access to Cash Collateral Until March 31
---------------------------------------------------------
Judge Philip Klingeberger on Jan. 28, 2016, an interim order
authorizing T-L Brywood LLC to use cash collateral through March
31, 2016.  The secured creditor, RCG-KC Brywood LLC, has consented
to the use of cash collateral.  

The judge has already entered several interim orders authorizing
the Debtor's use of cash collateral in accordance with a budget.  A
further telephonic hearing on the continued use of cash collateral
is set for March 23, 20165, at 11:00 a.m.  

A copy of the Jan. 28 interim cash collateral order is available
for free at:

   http://bankrupt.com/misc/T-L_Brywood_589_Cash_Coll_Ord.pdf

                        About T-L Brywood

T-L Brywood LLC filed for Chapter 11 bankruptcy (Bankr. N.D. Ill.
Case No. 12-09582) on March 12, 2012.  The case was transferred to
the U.S. Bankruptcy Court for the Northern District of Indiana
(Case. 13-21804) on May 14, 2013.  The petition was signed by
Richard Dube, president of Tri-Land Properties, Inc., manager.
Judge J. Philip Klingeberger oversees the case.

T-L Brywood owns and operates a commercial shopping center known as
the "Brywood Centre" -- http://www.brywoodcentre.com/-- in Kansas
City, Missouri.  The property encompasses roughly 25.6 acres and
comprises 183,159 square feet of retail space.

Related entities, T-L Conyers LLC, T-L Cherokee South, LLC, T-L
Smyrna LLC, and T-L Village Green LLC sought Chapter 11 protection
(Bankr. N.D. Ind. Case Nos. 13-20280, and 13-20282 to 13-20284) in
Hammond, Indiana, on Feb. 1, 2013.  T-L Conreys owns the Sale Gate
Shopping Center in Conyers, Georgia.  T-L Cherokee owns the
Cherokee South Shopping Center in Overland Park, Kansas.  T-L
Smyrna owns the Crossings Shopping Center in Smyrna, Georgia.  

The Debtors are entities managed by Westchester, Illinois-based
Tri-Land Properties, Inc., which sought Chapter 11 protection (Case
No. 12-22623) on July 11, 2012.  Tri-Land and an affiliate
collectively manage a portfolio of 10 properties in Georgia,
Indiana, Kansas, Minnesota, Missouri and Wisconsin.

T-L Brywood disclosed total assets of $16.7 million and total
liabilities of $14.0 million in its schedules.  

T-L Brywood is represented by David K. Welch, Esq., Arthur G.
Simon, Esq., and Jeffrey C. Dan. Esq., at Crane, Heyman, Simon,
Welch & Clar, in Chicago.

                           *     *     *

The secured lender in the Chapter 11 cases of T-L Conyers, T-L
Smyrna, T-L Cherokee and T-L Village (collectively, "Other Related
Debtors") was MB Financial N.A.  The parties reached a settlement
resolving all of the disputes that resulted in, among other things,
the voluntary dismissal of the Chapter 11 cases of the Other
Related Debtors.

T-L Brywood and creditor RCG-KC Brywood, LLC, have filed competing
plans in T-L Brywood's Chapter 11 case.


T-L BRYWOOD: Warring Parties Go to March 3 Mediation Conference
---------------------------------------------------------------
To achieve a resolution of the competing Chapter 11 plans proposed
by debtor T-L Brywood LLC, and its secured creditor, RCG-KC
Brywood, LLC in the four-year old Chapter 11 case of T-L Brywood,
the parties will subject themselves to mediation on March 3, 2016.

On Jan. 20, 2016, at a hearing held in open court, debtor T-L
Brywood LLC, and its principal creditor RCG-KC Brywood LLC, advised
the U.S. Bankruptcy Court for the Northern District of Indiana that
mediation of controversies between them in the Chapter 11 case,
particularly with respect to competing Chapter 11 plans which each
has filed, might be productive.

"IT IS ORDERED that a settlement/mediation conference will be held
on March 3, 2016, at 10:00 A.M.  The Court has reserved the entire
day of March 3, 2016, for this conference.  The mediation will be
undertaken by the undersigned as the mediator.  No additional
submissions to the Court shall be required, or allowed -- the
record as it presently stands will be the sole source of recorded
information available to the Court with respect to background
concerning the case," Judge Philip Klingeberger ruled Jan. 29.

"IT IS FURTHER ORDERED that each party shall be represented at the
settlement conference by at least one attorney who has formally
appeared in this action on behalf of that party, and by such person
or persons as are necessary to provide that party with final
settlement authority regarding all matters relating to this
matter."

                     Updated Plan Documents

The Debtor has claimed that the disclosure statement explaining
RCG's Plan should be rejected while RCG has asked the Court to
reject the other's disclosure statement.

The parties have amended their respective disclosure statements
explaining their proposed Chapter 11 Plan.

On Jan. 13, 2016, the Debtor filed a Third Amended Disclosure
Statement, a copy of which is available for free at

    http://bankrupt.com/misc/T-L_Brywood_581_3rd_Am_DS.pdf

On Jan. 13, 2016, RCG filed an Amended Disclosure Statement
explaining its Second Amended Plan of Reorganization for the
Debtor, a copy of which is available for free at:

    http://bankrupt.com/misc/T-L_Brywood_583_RCG_DS_2nd_A_Plan.pdf

                            Rival Plans

The Debtor's plan of reorganization proposes to pay RCG for its
$8,350,000 secured claim: (i) monthly interest payments at the
annual interest rate of 5%, and (ii) payment of the balance of the
principal on or before 5 years following the effective date.
Holders of unsecured claims estimated at $134,000 will be paid 100%
of the allowed amount of the claims in cash within 120 days of the
Effective Date.  Noteholder claims estimated at $999,000 will be
paid 100% in cash, with 50% of the claims to be paid within 90 days
of the Effective Date, and 5% of the balance every 90 days until
the claims are paid in full.  Existing interests in the Debtor will
be cancelled.   A new membership interest in the Debtor will be
distributed to a joint venture in exchange for the joint venture's
commitment to invest up to $4,200,000 in new capital to further
develop the Brywood shopping center.

The Plan proposed by RCG-KC Brywood, an entity formed by RCG
Ventures Distressed Real Estate Opportunity Fund, LP, provides for
the reorganization of the Debtor through, among other things, a
substantial cash infusion from RCG in exchange for a cancellation
of all current equity interests in the Debtor and the issuance of
shares in the Reorganized Debtor in favor of RCG.  RCG is making an
equity infusion of $525,000 and has agreed to convert its $3.91
million in unsecured deficiency claim to equity.  Under its plan,
RCG will still be the primary secured creditor, with its $8.35
million claim to be paid in full no later than 10 years with
interest at 5% per annum.  RCG's unsecured deficiency claim of
$3.14 million to $3.91 million will be converted to 100% of the new
equity interests in the reorganized Debtor (0% to 0.5% recovery).
Holders of general unsecured claims estimated at $161,000, Mesirow
notes estimated at $812,000, and insider claims estimated at $1.02
million will each receive a pro rata share of $860,000 (estimated
recovery at 43%).  Holders of equity interests won't receive
anything.

The Debtor's attorneys:

         David K. Welch, Esq.
         Arthur G. Simon, Esq.
         Jeffrey C. Dan, Esq.
         Brian P. Welch, Esq.
         CRANE, HEYMAN, SIMON, WELCH & CLAR
         135 South LaSalle Street, Suite 3705
         Chicago, IL 60603
         Tel: (312) 641-6777
         Fax: (312) 641-7114

Attorneys to RCG-KC Brywood:

         David J. Fischer, Esq.
         Phillip W. Nelson, Esq.
         LOCKE LORD LLP
         111 South Wacker Drive
         Chicago, IL 60606
         Telephone: 312-201-2000
         Facsimile: 312-201-2555
         E-mail: david.fischer@lockelord.com
                 phillip.nelson@lockelord.com

                        About T-L Brywood

T-L Brywood LLC filed for Chapter 11 bankruptcy (Bankr. N.D. Ill.
Case No. 12-09582) on March 12, 2012.  The case was transferred to
the U.S. Bankruptcy Court for the Northern District of Indiana
(Case. 13-21804) on May 14, 2013.  The petition was signed by
Richard Dube, president of Tri-Land Properties, Inc., manager.
Judge  J. Philip Klingeberger oversees the case.

T-L Brywood owns and operates a commercial shopping center known as
the "Brywood Centre" -- http://www.brywoodcentre.com/-- in Kansas
City, Missouri.  The property encompasses roughly 25.6 acres and
comprises 183,159 square feet of retail space.

Related entities, T-L Conyers LLC, T-L Cherokee South, LLC, T-L
Smyrna LLC, and T-L Village Green LLC sought Chapter 11 protection
(Bankr. N.D. Ind. Case Nos. 13-20280, and 13-20282 to 13-20284) in
Hammond, Indiana, on Feb. 1, 2013.  T-L Conreys owns the Sale Gate
Shopping Center in Conyers, Georgia.  T-L Cherokee owns the
Cherokee South Shopping Center in Overland Park, Kansas.  T-L
Smyrna owns the Crossings Shopping Center in Smyrna, Georgia.  

The Debtors are entities managed by Westchester, Illinois-based
Tri-Land Properties, Inc., which sought Chapter 11 protection
(Case
No. 12-22623) on July 11, 2012.  Tri-Land and an affiliate
collectively manage a portfolio of 10 properties in Georgia,
Indiana, Kansas, Minnesota, Missouri and Wisconsin.

T-L Brywood disclosed total assets of $16.7 million and total
liabilities of $14.0 million in its schedules.  

T-L Brywood is represented by David K. Welch, Esq., Arthur G.
Simon, Esq., and Jeffrey C. Dan. Esq., at Crane, Heyman, Simon,
Welch & Clar, in Chicago.

                           *     *     *

The secured lender in the Chapter 11 cases of T-L Conyers, T-L
Smyrna, T-L Cherokee and T-L Village (collectively, "Other Related
Debtors") was MB Financial N.A.  The parties reached a settlement
resolving all of the disputes that resulted in, among other things,
the voluntary dismissal of the Chapter 11 cases of the Other
Related Debtors.

T-L Brywood and creditor RCG-KC Brywood, LLC, have filed competing
plans in T-L Brywood's Chapter 11 case.


TELKONET INC: Extends Maturity of Heritage Bank Facility to 2018
----------------------------------------------------------------
Telkonet, Inc., and its wholly owned subsidiary, EthoStream LLC, as
co-borrowers, entered into a First Amendment to Loan and Security
Agreement with Heritage Bank of Commerce, a California state
chartered bank, as disclosed in a Form 8-K report filed with the
Securities and Exchange Commission.  The Company and the Bank are
parties to a Loan and Security Agreement dated as of Sept. 30,
2014.

The Amendment extends the revolving maturity date from Sept. 30,
2016, to Sept. 30, 2018, unless earlier accelerated under the terms
of the Amendment, and defines the 2016 EBITDA levels required to be
achieved by the Company each fiscal quarter.  All other terms of
the Loan Agreement remain in full force and effect.

                          About Telkonet

Milwaukee, Wisconsin-based Telkonet, Inc., is a clean technology
company that develops and manufactures proprietary energy
efficiency and smart grid networking technology.

Telkonet reported a net loss attributable to common stockholders
of $95,400 in 2014 following a net loss attributable to common
stockholders of $4.9 million in 2013.

As of Sept. 30, 2015, the Company had $11.5 million in total
assets, $5.35 million in total liabilities and $6.12 million in
total stockholders' equity.

BDO USA, LLP, in Milwaukee, Wisconsin, issued a "going concern"
qualification on the consolidated financial statements for the
year ended Dec. 31, 2014, citing that the Company has a history of
losses from operations, a working capital deficiency, and an
accumulated deficit of $121,906,017 that raise substantial doubt
about its ability to continue as a going concern.


TERRAFORM POWER: Moody's Cuts Corporate Family Rating to B3
-----------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating
(CFR) of TerraForm Power Operating LLC (TPO) and TerraForm Global
Operating LLC (TGO) to B3 from B2. The unsecured debt rating at
both TPO and TGO were downgraded to Caa1 from B3, and the
Probability of Default rating at both TPO and TGO were downgraded
to B3-PD from B2-PD. The Speculative Grade Liquidity (SGL) rating
of TPO was lowered to SGL-4 and the SGL of TGO was maintained at
SGL-3. The rating outlook of both entities is negative. TPO and TGO
are subsidiaries of TerraForm Power Inc (TERP) and TerraForm Global
Inc (GLBL), respectively, which are the publicly listed YieldCos
and subsidiaries of sponsor SunEdison Inc (SUNE, unrated).

Downgrades:

Issuer: TerraForm Global Operating, LLC

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

--  Corporate Family Rating, Downgraded to B3 from B2

-- Senior Unsecured Regular Bond/Debenture, Downgraded to Caa1
    (LGD 5) from B3 (LGD4)

Issuer: TerraForm Power Operating LLC

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

--  Speculative Grade Liquidity Rating, Downgraded to SGL-4 from
     SGL-3

--  Corporate Family Rating, Downgraded to B3 from B2

-- Senior Unsecured Regular Bond/Debenture, Downgraded to Caa1
    (LGD 5) from B3 (LGD 5)

Outlook Actions:

Issuer: TerraForm Global Operating, LLC

-- Outlook, Remains Negative

Issuer: TerraForm Power Operating LLC

-- Outlook, Remains Negative

Affirmations:

Issuer: TerraForm Global Operating, LLC

--  Speculative Grade Liquidity Rating, Affirmed SGL-3

RATINGS RATIONALE

Rating Rationale

"Our rating action reflects heightened concerns around the solvency
of SunEdison as well as liquidity considerations at the yieldcos,
with TERP likely needing additional capital in 2016 to meet
obligations under the Vivint asset purchase commitment agreement",
said Swami Venkataraman, Moody's Vice President -- Senior Credit
Officer. "In our opinion, both TERP and GLBL exhibit stronger
credit quality than parent SUNE because their cash flows remain
stable. However, our rating incorporates a low but not negligible
probability that one or both yieldcos may eventually end up in
bankruptcy proceedings as a result of a SUNE bankruptcy", he
added.

We believe that the fundamental credit quality of both TERP and
GLBL has been weakened as they have not been able to terminate or
otherwise eliminate certain of their financial obligations. In
TERP's case, while the ultimate obligation to purchase the
Invenergy assets always resided with TERP, the initial plan called
for SUNE to own a part of the portfolio in a warehouse and for the
assets to be dropped into TERP over time. SUNE's inability to raise
capital resulted in TERP purchasing all of the assets in 2015 --
In addition, TERP signed an amended "purchase commitment" that
reduced its prior obligation but will potentially still require it
to purchase 400-450 MW of rooftop systems from Vivint annually for
up to five years. This obligation, along with the requirement to
purchase other assets from SUNE, will require TERP to incur
additional non-recourse debt, sell assets or access the capital
markets in 2016 as its liquidity is limited, although the
obligations would fall away if SUNE is successful in selling these
assets to third-parties. We estimate that TERP will need to draw
down a substantial all of its $725 million revolver, accounting for
the downgrade of its SGL rating to SGL-4 from SGL-3. Proforma for
the Invenergy acquisition that closed in Dec 2015, we estimate that
TERP's Debt/EBITDA stands at about 6.9x, and cash flow coverage of
interest and debt at 2.57x and 8.5%, respectively.

In our opinion GLBL has also stepped up to support SUNE, with SUNE
selling it 425 MW of solar projects in India. GLBL pre-paid $231
million for these assets in Q4 2015, with an adjustment to the
price paid to be made as the projects are completed and transferred
in 2016. GLBL is yet to complete four of its originally planned
acquisitions (under construction or pending project lender or
governmental approvals) and one planned acquisition has been
terminated by SUNE. As a result the company did not need external
capital to complete the Indian solar acquisition and we estimate
still has approximately $800 million of cash balances as of Dec 31,
2015 and full availability of its $485 million revolving credit
facility, leading us to keep GLBL's SGL rating unchanged at SGL-3.

On January 7, 2016, when SUNE completed its $725 million second
lien debt and exchange offer, the company disclosed that it had
$1.1 billion of cash on hand proforma for the debt issuance. We
estimate that about $500 million of this amount likely resides at
various projects currently under construction and a majority of
this amount is not really free cash available to meet liquidity
needs. A portion of this cashincludes EPC profits retained
temporarily at the projects by SUNE, which normally acts as the EPC
contractor for all the projects it develops, and which we believe
is likely available for general liquidity if needed. SUNE has about
$200 million in interest payments and approximately $600 million in
G&A expenses for 2016. Even if one assumes $200 million of EBITDA
at SUNE's services business as forecasted by the company, this
leaves SUNE dependent upon sales of developed assets to maintain
its solvency.

SUNE's challenging financial position and heightened bankruptcy
risk also contributed to the downgrade since it raises the
possibility, although unlikely, that the yieldcos may be pulled
into a SUNE bankruptcy. When SUNE added independent directors to
the board in November 2015, the CEO and the CFO of both TERP and
GLBL were replaced and two former independent directors resigned,
in our opinion it strengthened each yieldco's connection with SUNE
rather than reinforcing their independence. The new Chairman of
both yieldcos was a director on SUNE's board, and the CEO also acts
as SUNE's CFO. The current board of both yieldcos consists of 4
independent directors and 3 representatives from SUNE. SUNE's
ability to sell assets to the yieldcos also illustrates this
increasingly close relationship.

The yieldcos will face collateral consequences from a SUNE
bankruptcy and at some point, it is possible that their boards may
need to make an independent decision as to whether the yieldcos
themselves may need to be filed into bankruptcy. In our view, there
are a number of factors that reduce the risk of a voluntary
bankruptcy filing by TERP or GLBL including: (i) The companies are
currently able to meet all of their obligations and are not
themselves insolvent; (ii) SUNE only has a minority economic
interest in both yieldcos, though it controls both companies
through class B shares; (iii) Both TERP and GLBL are publicly
listed Delaware corporations rather than wholly owned SPVs and
Delaware law imposes fiduciary duties on a company's directors; and
(iv) a voluntary filing of either yieldco requires a vote of a
majority of three independent directors on the yieldco's "corporate
governance and conflicts committee".

The assets and cash flows of the yieldcos would only be available
to SUNE's creditors in case of a SUNE bankruptcy if a substantive
consolidation of the yieldcos into a SUNE bankruptcy were ordered
by a bankruptcy judge. Although we consider the likelihood of this
event to be remote, since all three companies have operated as
clearly separate legal entities with their own boards, capital
structures and financing documents, it is not impossible that a
bankruptcy court might reach a different result. At the time of the
original ratings of TERP and GLBL, Moody's was also provided with
non-consolidation opinions from an external counsel.

Liquidity

TPO has an SGL-4 rating while TGO has an SGL-3 rating. We project
TERP'S liquidity is weaker because of our expectation that they
will draw substantially all of their revolver while we project that
TGO has approximately $800 million of cash balances and full
availability of its $485 million revolving credit facility. TERP's
liquidity is also affected by its need to raise additional capital
in relation to Vivint related asset purchase obligations should
that acquisition close.

Outlook: The negative outlook primarily reflects liquidity and
solvency risks at SUNE and the possibility that TPO and TGO may be
drawn into a SUNE bankruptcy, should it occur.

What could change the rating Up?

Limited near term prospects exist for a rating upgrade. However, if
SUNE is able to either successfully close or terminate the Vivint
acquisition, a stable outlook on TPO and TGO could be considered.
This would also require a high degree of certainty that SUNE will
not file for bankruptcy and is able to successfully continue as a
going concern. A stable outlook would also require that TPO and TGO
are not saddled with additional financial obligations that pressure
their financial profiles and that they continue to maintain
adequate liquidity to support their operations

What could change the rating Down?

Ratings at both TPO and TGO could be lowered further if we perceive
an increase in the risk at TPO and TGO from a bankruptcy filing at
SUNE. Moreover, we will assess how recent management changes at
SUNE, TERP and GLBL impact financing plans around the completion of
near-term acquisitions, both yieldcos' strategic direction, SUNE's
liquidity profile and corporate governance practices, especially
how TERP and GLBL's independent directors view and react to ongoing
developments.


TORQUED-UP ENERGY: Wants to Tap Maltby & Wilmoth as Tax Preparers
-----------------------------------------------------------------
Torqued-Up Energy Services, Inc., et al., seeks authority fro
Bankruptcy Court to hire Maltby & Wilmoth as tax preparers for:

  (a) the preparation of 1120 Federal Tax Return for 2015;

  (b) the preparation of Texas Franchise Tax Returns and Public
      Information Reports;

  (c) the facilitation of Federal Information Reports related to
      cash payments to individuals and pass through entities;
      and

  (d) any and all other tax services which may arise.

The normal billing rates of Maltby & Wilmoth are $125 per hour for
services rendered by Brant D. Maltby, and $125 per hour for
services rendered by Finis Wilmoth.

To the best of the Debtors' knowledge, Maltby & Wilmoth and its
members hold no interest contrary to the Debtors' estates and are
disinterested parties.

The Firm can be reached at:

          MALTBY & WILMOTH
          c/o Brant D. Maltby
          5 Sagestone, Conroe, Texas 77304-6712
          Tel No: (713) 805-7696
          E-mail: bmaltby@consolidated.net

                      About Torqued-Up Energy

Torqued-Up Energy Services, Inc., Arctic Acquisition Corporation
and Torqued-up Enterprises, LLC filed Chapter 11 bankruptcy
petitions (Bankr. E.D. Tex. Case Nos. 15-60796, 15-60798, and
15-60799, respectively) on Nov. 24, 2015.  The petitions were
signed by Kelly W. Prentiss as CEO.  Judge Bill Parker has been
assigned the case.

Torgued-Up Energy estimated assets and liabilities in the range of
$10 million to $50 million.  

Arctic and Enterprises, while non-operating, are guarantors on
debt to the senior secured lenders and have pledged assets to
secure that debt.

As of Oct. 9, 2015, the Company had on hand the sum of
approximately $1.2 million in cash.  The Debtor also owns
approximately $3 million in outstanding accounts receivables of
which approximately $1.5 million is collectible.

The Company's other non-insider, third-party debt is approximately
$1.5 million as of Oct. 9, 2015, consisting largely of
approximately 41 capital leases.

The Company has unsecured subordinated debt which has been
advanced by one or more equity owners over time.  That sub-debt is
contractually subordinated to the secured debt of the Banks and as
of Oct. 9, 2015, totals in the amount of $32.5 million.  No
interest or other payments have been made on the sub-debt.

Ireland, Carroll, & Kelley and Searcy & Searcy, P.C. serve as the
Debtors' counsel.  


TRANSUNION: S&P Raises CCR to 'BB-', Outlook Positive
-----------------------------------------------------
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Chicago-based TransUnion to 'BB-'.  The outlook is
positive.

At the same time, S&P raised its issue-level rating on TransUnion's
senior secured credit facilities to 'BB-' from 'B+'. The recovery
rating remains '3', indicating S&P's expectation for meaningful
(50%-70%; lower half of the range) recovery in the event of a
payment default.

"Our upgrade of TransUnion reflects the firm's significant progress
in reducing leverage and growing EBITDA since its IPO in June
2015," said Standard & Poor's credit analyst James Thomas.

The firm has grown revenues by 15.5% year over year to $1.5
billion, expanded EBITDA margins by approximately 20 basis points
(bps), and retired its unsecured notes, collectively leading to a
reduction in adjusted leverage to the mid-4x area as of the end of
the fourth quarter of 2015.  As a result, S&P is revising its
assessment of the firm's financial risk profile to aggressive from
highly leveraged.  S&P expects credit metrics to continue to
improve over the next year, based on its forecast of 6%-8% revenue
growth and modest incremental debt reduction, and note that S&P
would view a further increase in the firm's public ownership as an
additional credit positive.

The positive outlook on TransUnion reflects S&P's expectation that
continued revenue growth, growing international diversity, and
further deleveraging from both increased EBITDA and additional debt
reduction will enable TransUnion to continue to improve credit
metrics over the next year.  S&P also believes that incremental
reductions in the share of equity held by the firm's financial
sponsors will support a more creditor-friendly financial policy in
the future.


TRAVELPORT INC: Bank Debt Trades at 5% Off
------------------------------------------
Participations in a syndicated loan under which Travelport Inc is a
borrower traded in the secondary market at 95.48
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 0.43 percentage points from the
previous week.  Travelport Inc pays 500 basis points above LIBOR to
borrow under the $2.375 billion facility. The bank loan matures on
Aug. 4, 2021 and carries Moody's B2 rating and Standard & Poor's B
rating.  The loan is one of the biggest gainers and losers among
247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


TRINITY TOWN: U.S. Trustee Unable to Appoint Committee
------------------------------------------------------
The Office of the U.S. Trustee disclosed in a filing with the U.S.
Bankruptcy Court for the Middle District of Florida that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Trinity Town Center LLLP.

                   About Trinity Town Center

On January 20, 2015, Trinity Town Center LLLP filed a Chapter 11
petition in the U.S. Bankruptcy Court for the Middle District of
Florida (Tampa).  The petition was signed by Michael D. Luetgert,
chief restructuring officer.

The Debtor has tapped McIntyre Thanasides Bringgold Elliot as its
legal counsel.

The Debtor estimated assets of $10 million to $50 million and debts
of $0 to $50,000.


ULTIMATE NUTRITION: Plan Confirmed; Final Decree Due March 31
-------------------------------------------------------------
Judge Ann M. Nevins confirmed the First Amended Chapter 11 Plan of
Reorganization proposed by Ultimate Nutrition, Inc. and Prostar,
Inc.

The United States Trustee's objection to confirmation of the Plan
was resolved.  The U.S. Trustee objected to the release and
exculpation provisions in the Plan.

In response to issues specifically raised by the United States
Trustee, Brian Rubino states that he is not aware of any specific
claim or cause of action that the Debtors or any
successor-in-interest to the Debtors, might have against him or
against any other insider of the Debtors and, to the best of his
knowledge and belief, the release provision was not included in the
Chapter 11 Plan or the First Amended Chapter 11 Plan for the
purpose of protecting Mr. Rubino or any other insider of the Debtor
from any liability, known or suspected.

Upon the death of his father and company founder Victor Rubino in
2003, Brian Rubino assumed an active management role and became CEO
in 2014.

Mr. Rubino said he has agreed to remain as chief executive officer
of both Debtors, post-confirmation, despite the fact that Mr.
Rubino has received multiple, unsolicited offers of employment
during the pendency of these bankruptcy cases.

                         Plan Confirmed

"The Plan is revised in the following respects: (i) the address for
notice to the United States Trustee, as set forth in Sec. 3.1 of
the Plan, is changed to Giaimo Federal Building, Room 302, 150
Court Street, New Haven, CT 06510; and (ii) the injunction in Sec.
12.2 of the Plan shall be revised to apply to all Claims that arose
before the Petition Date up until the Confirmation Date," Judge
Nevins ruled in her order confirming the Plan.

The Debtors are required to file an application for a final decree
on or before March 31.

The judge approved the disclosure statement on Dec. 3, 2015, and
set a Dec. 21 deadline for returning ballots, and a Dec. 23
confirmation hearing.

A copy of the Plan Confirmation Order entered Dec. 28, 2015, which
includes the confirmed Plan, is available for free at:

    http://bankrupt.com/misc/Ultimate_N_750_Plan_Conf_Ord.pdf

                           Terms of Plan

The Plan is the product of intense negotiations among the Debtors,
the Official Committee of Unsecured Creditors, and other parties
having an interest in the Chapter 11 Case.

Under the Plan, TD Bank, N.A.'s secured claim of $13.2 million will
be paid at least $50,000 interest for the first two months after
the Effective Date; $110,000 per month for the next 17 months up
until the month in which general unsecured claims are paid the 50%
distribution; monthly payments plus $110,000 for the next 5 months
ending on the 24 month; and beginning in the 25th month, monthly
payments of principal and interest based on a straight amortization
over a period over 4 years, subject to the Reorganized Debtors
being entitled to discounts totaling $3 million in the 36 months
provided no default occurs.  General unsecured creditors owed $3.91
million will receive a 50% distribution, payable in monthly cash
installments until 50% payment is achieved.  Holders of interests
will retain their interests.

The Reorganized Debtors have agreed to be bound by certain
covenants during the period commencing with confirmation of the
Plan until the payment in full to holders of allowed unsecured
claims.

A copy of the solicitation version of the First Amended Disclosure
Statement filed Dec. 3, 2015, is available for free at:

       http://bankrupt.com/misc/Ultimate_N_692_1st_Am_DS.pdf

The Reorganized Debtors can be reached at:

         Brian Rubino, President
         Ultimate Nutrition, Inc.
         21 Hyde Road
         PO Box 643
         Farmington, CT 06032
         E-mail: brubino@ultimatenutrition.com

The Debtors' attorneys:

         PULLMAN & COMLEY, LLC
         850 Main Street
         PO Box 7006
         Bridgeport, CT 06601-7006
         Attn: Irve J. Goldman, Esq.
         E-mail: igoldman@pullcom.com

                     About Ultimate Nutrition

Ultimate Nutrition, Inc., develops and distributes nutritional
supplements for body building, enhanced athletic performance and
fitness.  The products are sold worldwide in over 100 countries.
The business was founded in 1979 by the late Victor H. Rubino, one
of the top amateur power lifters in the United States at that
time.

The company has two facilities located in Farmington, Connecticut,
one product distribution center in New Britain, Connecticut and a
research and development center in West Palm Beach, Florida.

Ultimate Nutrition and affiliate Prostar, Inc., sought Chapter 11
bankruptcy protection (Bankr. D. Conn. Case Nos. 14-22402 and
14-22403) on Dec. 17, 2014.  On Dec. 19, 2014, the Court entered an
order directing the joint administration of the Debtors' cases for
procedural purposes.

Ultimate Nutrition disclosed $20,157,424 in assets and $19,885,142
in liabilities as of the Chapter 11 filing.

The Debtors tapped Pullman & Comley, in Bridgeport, Connecticut, as
counsel; LaQuerre Michaud & Company, LLC, as accountant; and Marcum
LLP, as financial advisor.  The Debtors also engaged Epstein,
Drangel, LLP and Fattibene & Fattibene as special intellectual
property counsel; and Halloran & Sage, LLP as special labor and
employment counsel.

The U.S. Trustee for Region 2 appointed three creditors of to serve
on the official committee of unsecured creditors.  The Committee
has selected Lowenstein Sandler, LLP to serve as its counsel, and
Neubert, Pepe & Monteith, P.C. to serve as its local counsel.
GlassRatner Advisory & Capital Group LLC serves as the Committee's
financial advisor.


VARIANT HOLDING: Units Propose DSI & B. Sharp as CRO
----------------------------------------------------
The debtor subsidiaries of Variant Holding Company, LLC, seek to
employ Development Specialists, Inc. (DSI) to, nunc pro tunc to the
Petition Date:

  (1) provide Bradley D. Sharp as their chief restructuring
      officer;

  (2) provide additional personnel; and

  (3) provide financial advisory and restructuring-related
      services to the Subsidiary Debtors.

Other services to be rendered by DSI are:

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

  (b) advising and assisting the Subsidiary Debtors, the
      Subsidiary Debtors' counsel and other professionals in
      responding to third party due diligence requests, including
      with respect to potential sales of the Subsidiary Debtors'
      assets.

  (c) attending meetings and assisting in communications with
      parties-in-interest in these cases and their professionals,
      including the Subsidiary Debtors' secured lenders, any
      official committee(s) appointed in these chapter 11 cases
      and the Office of the United States Trustee;

  (d) providing litigation advisory services with respect to
      accounting matters, along with expert witness testimony on
      case related issues; and

  (e) rendering other general business consulting or other
      assistance as the Subsidiary Debtors' counsel may deem
      necessary and consistent with the role of a financial
      advisor.

The hourly rates of DSI personnel are:

           Bradley D. Sharp          $595
           R. Brian Calvert          $590
           Eric J. Held              $450
           Matthew P. Sorenson       $380
           Jeffery S. Gasbarra       $320
           Shelly L. Cuff            $280
           William F. Brandt         $175
           Mandana Yedidsion         $125

DSI will also bill the Subsidiary Debtors for reimbursement of
reasonable costs and expenses incurred on the Subsidiary Debtors'
behalf.

As of the Petition Date, DSI has received the sum of $850,000 on
account of work performed, or to be performed, for the Subsidiary
Debtors.  Upon final reconciliation of the amount actually incurred
prepetition, any balance remaining from the payments to DSI will be
credited to the Subsidiary Debtors and utilized as DSI's retainer
to apply to postpetition fees and expenses approved by the
Bankruptcy Court.

                    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: Units Seek Nod for Pachulski as Counsel
--------------------------------------------------------
The debtor subsidiaries of Variant Holding Company, LLC, seek to
hire Pachulski Stang Ziehl & Jones LLP as counsel nunc pro tunc to
the Petition Date.

The professional services that Pachulski Stang will provide
include:

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

  (b) preparing on behalf of the Subsidiary Debtors any necessary
      applications, motions, answers, orders, reports, and other
      legal papers;

  (c) appearing in Court on behalf of the Subsidiary Debtors;

  (d) preparing and pursuing confirmation of a plan and approval
      of a disclosure statement; and

  (e) performing other legal services for the Subsidiary Debtors
      that may be necessary and proper in these proceedings.

The Firm's hourly rates are:

          Richard M. Pachulski      $1,145
          Maxim B. Litvak             $825
          Peter J. Keane              $550
          Lynzy McGee                 $325
           
As of the Petition Date, Pachulski Stang has received the sum of
$962,500 on account of work performed, or to be performed, for the
Subsidiary Debtors.  Upon final reconciliation of the amount
actually incurred prepetition, any balance remaining from the
payments to Pachulski Stand will be credited to the Subsidiary
Debtors and utilized as Pachulski Stang's retainer to apply to
postpetition fees and expenses approved by the Bankruptcy Court.

Richard Pachulski assures the Bankruptcy Court that his Firm is a
"disinterested person" as that phrase is defined in Section 101(14)
of the Bankruptcy Code.

                     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.


VERSO CORP: $100-Mil. DIP Financing Has Interim Approval
--------------------------------------------------------
Verso Paper Holdings LLC and its affiliated debtors sought and
obtained, in the interim, approval from the Bankruptcy Court of
their proposed $100 million DIP financing provided by existing
lenders.

The Debtors have arranged a senior secured asset-based revolving
DIP Facility in an aggregate principal amount of up to $100
million, including a $50 million letter of credit ("DIP L/C")
sub-facility.
Pursuant to Secured Debtor-in-Possession Credit Agreement, dated as
of Jan. 26, 2016, the DIP financing will be provided on these
terms:

     (1) Borrower: Verso Paper Holdings LLC

     (2) Guarantors: Verso Paper Finance Holdings, LLC, et. al.

     (3) Lenders: The DIP Lenders, as constituted from time to
time.

     (4) DIP Agent: Citibank, N.A.

     (5) Purpose and Limitation on Use of Proceeds: Proceeds of the
DIP Facility may be used solely for working capital and general
corporate purposes of the Verso Debtors and their subsidiaries,
including to refinance in full the indebtedness under the
Prepetition ABL Facility and to pay fees, costs and expenses
incurred in connection with the Chapter 11 Cases.

     (6) Interest Rate: (i) Eurocurrency Loans: LIBOR + 2.50%, with
0% LIBOR floor; (ii) Alternative Base Rate Loans: Base Rate +
1.50%

     (7) Default Interest: During the continuance of an Event of
Default, Loans will bear interest at an additional 2.0% per annum.

     (8) Maturity: 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, and (d) the acceleration of the DIP Loans
and termination of commitments with respect to such DIP Facility in
accordance with the DIP Documents.

As of the Petition Date, the Verso Debtors owed the aggregate
principal amount of not less than $63,050,000 in respect of loans
made and $31,382,921 in respect of letters of credit issued by the
Prepetition ABL Lenders.

The Debtors contended that with the liquidity available from the
DIP Financing, they 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.
They further contended that failure to secure financing will likely
result in liquidation, severe employee dislocation and major losses
for vendors and customers.

The final hearing was scheduled for Feb. 24, 2016.

A full-text copy of the Interim DIP Order dated Jan. 27, 2016, is
available at http://is.gd/3eiv87

The ad hoc group of holders of Old First Lien Notes Debt,, Net
First Lien Debt, and other Prepetition Debt are represented by
Milbank, Tweed, Hadley & McCloy LLP, Houlihan Lokey Capital, Inc.,
and Morris, Nichols, Arsht & Tunnell LLP.

Verso Corporation and its affiliated debtors are represented by:

          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.
          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
                  aparlen@omm.com
                  dperez@omm.com

                    About Verso Corporation

Verso Corporation and 26 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10163 to
16-10189, respectively) on Jan. 26, 2016.  The petitions were
signed by David Paterson as president and chief executive officer.

Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  The Debtors employ approximately
5,200 personnel.

The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.

The Debtors have engaged O'Melveny & Myers LLP as general counsel,

Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,

Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing agent.


VERSO CORP: Creditors Say $775M DIP Loan Leaves Them Hanging
------------------------------------------------------------
Vince Sullivan at Bankruptcy Law360 reported that unsecured
creditors in Verso's Chapter 11 proceedings filed objections on
Feb. 22, 2016, in Delaware to portions of the company's proposed
$775 million debtor-in-possession financing, saying a restructuring
support agreement doesn't account for the creditors' claims.  The
official committee of unsecured creditors filed a pair of
objections saying they need more time to investigate the complex
prepetition financing of Verso Corp. and NewPage Holdings Inc., a
competing company Verso acquired before filing for Chapter 11
protection in January, to decide whether to pursue challenge
proceedings.

                     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.


WAVE SYSTEMS: Common Stock Delisted From NASDAQ
-----------------------------------------------
The NASDAQ Stock Market LLC filed a Form 25 with the Securities and
Exchange Commission notifying the removal from listing or
registration of Wave Systems Corp.'s common stock.

                        About Wave Systems

Lee, Massachusetts-based Wave Systems Corp. (NASDAQ: WAVX) --
http://www.wave.com/-- develops, produces and markets products for
hardware-based digital security, including security applications
and services that are complementary to and work with the
specifications of the Trusted Computing Group, an industry
standards organization comprised of computer and device
manufacturers, software vendors and other computing products
manufacturers.

Wave Systems filed a Chapter 7 bankruptcy petition (Bankr. D. Del.)
on Feb. 1, 2016.  As a result of the filing of the Chapter 7 Case,
a Chapter 7 trustee will be appointed by the Bankruptcy Court and
will assume control of the Company.  The assets of the Company will
be liquidated in accordance with the Code.


WIDEOPENWEST FINANCE: Bank Debt Trades at 4% Off
------------------------------------------------
Participations in a syndicated loan under which WideOpenWest
Finance LLC is a borrower traded in the secondary market at 96.10
cents-on-the-dollar during the week ended Friday, Feb. 19, 2016,
according to data compiled by LSTA/Thomson Reuters MTM Pricing.
This represents a decrease of 1.03 percentage points from the
previous week.  WideOpenWest pays 350 basis points above LIBOR to
borrow under the $1.41 billion facility. The bank loan matures on
April 1, 2019 and carries Moody's Ba3 rating and Standard & Poor's
B rating.  The loan is one of the biggest gainers and losers among
247 widely quoted syndicated loans with five or more bids in
secondary trading for the week ended Feb. 19.


WOOD RESOURCE: Hires Hopping Green as Special Legal Counsel
-----------------------------------------------------------
Wood Resource Recovery, L.L.C., asks the Bankruptcy Court to retain
Hopping Green & Sams, P.A., as special legal counsel.

The Debtor requires the assistance of Hopping Green as special
litigation counsel in this case, for the purpose of representing
the Debtor with respect to matters related to certain litigation in
which the Firm and D. Kent Safriet, Esq., represented the Debtor
prior to the commencement of its chapter 11 case.  The Debtor has
sued Gainesville Regional Energy Center for breach of contract,
alleging damages exceeding $20,000,000.

The Firm will be primarily responsible for the prosecution of
Applicant's lawsuit against Gainesville Regional Energy Center and
all related state-court activities, including negotiating for the
Debtor at mediation.

D. Kent Safriet, 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.

The firm can be reached at:

         HOPPING GREEN & SAMS, P.A.
         D. Kent Safriet, Esq.
         119 South Monroe Street – Suite 300
         Tallahassee, Florida 32301
         Tel: (850) 425-2207
         E-mail: kents@hgslaw.com

                        About Wood Resource

Gainesville, Florida-based Wood Resource Recovery, L.L.C., filed on
Jan. 28, 2016, voluntary petitions (Bankr. N.D. Fla. Case No.
16-10014).  The case is assigned to Judge Karen K. Specie.  

Wood Resource Recovery disclosed estimated assets and liabilities
of between $10 million to $50 million as of the Chapter 11 filing.

The Debtor's proposed bankruptcy counsel is Seldon J. Childers,
Esq., at ChildersLaw, LLC.


WOOD RESOURCE: Seeks to Retain Patrice Boyes as Special Counsel
---------------------------------------------------------------
Wood Resource Recovery, L.L.C., asks the Bankruptcy Court to retain
Patrice Boyes, Esq., of Patrice Boyes, P.A., as special legal
counsel.

The Debtor requires the assistance of Patrice Boyes, P.A. as
special litigation counsel in this case, for the purpose of
representing the Debtor with respect to matters related to certain
litigation in which Patrice Boyes, P.A., and Patrice Boyes,
Esquire, represented the Debtor prior to the commencement of its
chapter 11 case.  The Debtor has sued Gainesville Regional Energy
Center for breach of contract, alleging damages exceeding
$20,000,000.

Patrice Boyes 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.

The firm can be reached at:

         Patrice Boyes, Esq.
         PATRICE BOYES, P.A.
         414 SW 140th Terrace, Suite 100
         Newberry, FL 32669
         Tel: (352) 372-2684
         Fax: (352) 379-0385
         E-mail: pboyes@boyeslaw.com

                         About Wood Resource

Gainesville, Florida-based Wood Resource Recovery, L.L.C., filed on
January 28, 2016, voluntary petitions (Bankr. N.D. Fla., Case No.
16-10014).  The case is assigned to Judge Karen K. Specie.  

Wood Resource Recovery disclosed estimated assets and liabilities
of between $10 million to $50 million as of the Chapter 11 filing.

The Debtor's proposed bankruptcy counsel is Seldon J. Childers,
Esq., at ChildersLaw, LLC.


XTERA COMMUNICATIONS: Raises Going Concern Doubt Amid Losses
------------------------------------------------------------
Xtera Communications, Inc. posted a net loss of $7,214,000 for the
three months ended December 31, 2015 as compared with a net loss of
$3,244,000 for the same period in 2014.

"As shown in the accompanying financial statements, the company has
recurring losses and negative cash flows from operations.  As of
September 30, 2015, the company's current liabilities exceeded its
current assets by $4.7 million," said Jon R. Hopper, president,
chief executive officer and director, and Paul J. Colan, chief
financial officer of the company in a regulatory filing with the
U.S. Securities and Exchange Commission on February 11, 2016.

"These factors raise substantial doubt about the company's ability
to continue as a going concern."

The officers further noted: "The company has funded its operations
through a combination of bank debt, draws on line of credit and
sale of common stock.  During the three months ended December 31,
2015, the company closed an initial public offering that raised net
proceeds of $21.76 million.  Additionally, the company continues to
invest in new product solutions including focus on additional
turnkey projects.  Management believes this investment will allow
the company to attract new customers and leverage relationships
with existing customers resulting in improved operating margins and
cash flows from operations.  To fund this investment, we continue
to explore opportunities to improve our working capital position
and believe our plans mitigate the substantial doubt about the
entity's ability to continue as a going concern as of December 31,
2015."

At December 31, 2015, the company had total assets of $54,366,000,
total liabilities of $35,713,000 and total stockholders' equity of
$18,653,000.

A full-text copy of the company's quarterly report is available for
free at: http://tinyurl.com/jdjn2gp

Xtera Communications, Inc. is a provider of optical transport
solutions to telecommunications service providers, content source
providers, enterprises and government entities worldwide to support
their deployments of long-haul terrestrial and submarine optical
cable networks.  The company maintains its headquarters in Allen,
Texas.


[*] CyberlawStudio & COTS Advogados Enter Into Collaboration Deal
-----------------------------------------------------------------
In a move to further support start-ups, e-commerce businesses and
IT companies seeking specialized legal advice on international
projects, US law firm of CyberlawStudio and Brazilian law firm of
COTS Advogados (COTS Attorneys-at-law) announced that they have
entered into a collaboration agreement after several years of
cooperating on various multinational projects.

CyberlawStudio is a compact and efficient "legal services module"
serving New York, Los Angeles and San Francisco seasoned
entrepreneurs and professionals, emerging businesses and technology
startups on matters including company formation and restructure,
debt and equity financing, executive compensation, employment,
intellectual property, digital media, software, internet law,
commercial contract disputes and bankruptcies.

COTS Advogados (COTS Attorneys-at-law) is a law firm based in Sao
Paulo/Brazil specializing in advising e-commerce businesses and IT
companies, with projects domestic and overseas, including Brazil,
France, Spain, Germany, Italy, Russia, Angola, Argentina and
Chile.

"Many of COTS and CyberlawStudio's clients are in the internet,
e-commerce or IT industries servicing a global audience which
requires navigating a myriad of different country legal systems
when conducting their businesses", said COTS founding and managing
partner, Marcio Cots.

"Having strategic partners in different countries is imperative to
our firm and we could not have found a better partner than
CyberlawStudio when it comes to meeting our clients needs in the
US," added Mr. Cots.

"We are very excited about this partnership opportunity with COTS.
With a solid team of lawyers advising clients on business,
technology and intellectual property in the United States, we look
forward to Mr. Cots' extensive experience in international projects
to help create a seamless experience for our clients when advising
them on issues with international legal ramifications", said
CyberlawStudio founding and managing partner, Julia Cheng.    


[*] Moody's Says Chemical Firms' 5Yr Refinancing Needs up 18%
-------------------------------------------------------------
Five-year refinancing needs for US chemical companies have
increased by 18% from last year, but refinancing risk is limited
for most issuers, says Moody's Investors Service.

Five-year investment-grade maturities rose 8% to $36 billion, while
speculative-grade maturities increased 32% to $32 billion, as
pre-existing investment-grade and high-yield maturities rolled into
the five-year window.

"A majority of the near-term maturities are investment grade, and
we do not expect these issuers to have problems refinancing," said
Anastasija Johnson, a Moody's Analyst. "However, refinancing risk
has increased for certain chemical companies as a result of
deteriorating macroeconomic and market conditions."

Falling commodity prices, a strengthening US dollar, and slowing
global growth are likely to pressure certain sectors within the US
chemical industry, such as commodity chemicals, according to the
report "Chemical Industry -- US: Industry's Debt Maturities Rise to
$68 Billion Through 2020." Furthermore, credit profile for ethylene
producers may weaken in 2017 if margins remain depressed from low
oil prices and overcapacity.

The industry's refunding needs are concentrated among 10 companies,
which together account for $32 billion or 47% of total refunding
needs. The investment-grade issuers with the largest maturities are
The Dow Chemical Company (Baa2 stable), Praxair (A2 stable) and
E.I. du Pont de Nemours and Company(A3 negative). Among
speculative-grade companies,the top three are Hexion Inc. (Caa1
negative), Platform Specialty Products Corporation (B2 negative)
and Ashland (Ba1 stable).


[*] Regulator Warns Risk of Mortgage Giants Under Gov't. Control
----------------------------------------------------------------
Andrea Riquier at MarketWatch.com reported the director of the
federal regulator of mortgage giants Fannie Mae and Freddie Mac is
urging Congress to reconsider the conservatorship structure under
which the two enterprises operate.  Federal Housing Finance Agency
Director Mel Watt said on Feb. 18, 2016 in an address at the
Bipartisan Policy council, that the practice of sweeping all
profits from Fannie FNMA, and Freddie FMCC, to the government is
the most serious risk.  The enterprises are allowed to retain a
"capital buffer" after the sweeps, but that amount is shrinking
each year.  The capital buffers will dwindle to zero by Jan. 1,
2018, Watt said.  A full-text copy of the MarketWatch report is
available at goo.gl/yD8txp


[^] BOOK REVIEW: Competitive Strategy for Health Care Organizations
-------------------------------------------------------------------
Authors: Alan Sheldon and Susan Windham
Publisher: Beard Books
Softcover: 190 pages
List Price:  $34.95
Review by Francoise C. Arsenault

Order your personal copy today at http://bit.ly/1nqvQ7V

Competitive Strategy for Health Care Organizations: Techniques for
Strategic Action is an informative book that provides practical
guidance for senior health care managers and other health care
professionals on the organizational and competitive strategic
action needed to survive and to be successful in today's
increasingly competitive health care marketplace. An important
premise of the book is that the development and implementation of
good competitive strategy involves a profound understanding of
change. As the authors state at the outset: "What may need to be
done in today's environment may involve great departure from the
past, including major changes in the skills and attitudes of
staff, and great tact and patience in bringing about the necessary
strategic training."

Although understanding change is certainly important in most
fields, the authors demonstrate the particular importance of
change to the health care field in the first and second chapters.
In Chapter 1, the authors review the three eras of medical care
(individual medicine, organizational medicine, and network
medicine) and lay the groundwork for their model for competitive
strategy development. Chapter 2 describes the factors that must be
taken into account for successful strategic decision-making. These
factors include the analysis of the environmental trends and
competitive forces affecting the health care field, past, current,
and future; the analysis of the competitive position of the
organization; the setting of goals, objectives, and a strategy;
the analysis of competitive performance; and the readaptation of
the business, if necessary, through positioning activities,
redirection of strategy, and organizational change.

Chapters 3 through 7 discuss in detail the five positioning
activities that are part of the model and therefore critical to
the development and implementation of a successful strategy:
scanning; product market analysis; collaboration; restructuring;
and managing the physician. The chapter on managing the physician
(Chapter 7) is the only section in the book that appears dated
(the book was first published in 1984). In this day of physician-
owned hospitals and physician-backed joint ventures, it is
difficult to envision the physician in the passive role of "being
managed." However, even the changing role of physicians since the
book's first publication correlates with the authors' premise that
their model for competitive strategic planning is based exactly on
understanding and anticipating change, which is no better
illustrated than in health care where change is measured not in
years but in months. These middle chapters and the other chapters
use a mixture of didactic presentation, graphs and charts,
quotations from famous individuals, and anecdotes to render what
can frequently be dry information in an entertaining and readable
format.

The final chapter of the book presents a case example (using the
"South Clinic") as a summary of many of the issues and strategic
alternatives discussed in the previous chapters. The final chapter
also discusses the competitive issues specific to various types of
health care delivery organizations, including teaching hospitals,
community hospitals, group practices, independent practice
associations, hospital groups, super groups and alliances, nursing
homes, home health agencies, and for-profits. An interesting quote
on for-profits indicates how time and change are indeed important
factors in strategic planning in the health care field: "Behind
many of the competitive concerns.lies the specter of the for-
profits. Their competitive edge has lain until now in the
excellence of their management. But developments in the past half-
decade have shown that the voluntary sector can match the for-
profits in management excellence. Despite reservations that may
not always be untrue, the for-profit sector has demonstrated that
good management can pay off in health care. But will the voluntary
institutions end up making the same mistakes and having the same
accusations leveled at them as the for-profits have? It is
disturbing to talk to the head of a voluntary hospital group and
hear him describe physicians as his potential competitors."


                            *********

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 ***