TCR_Public/160310.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, March 10, 2016, Vol. 20, No. 70

                            Headlines

ABERCROMBIE & FITCH: S&P Affirms 'BB-' CCR, Outlook Stable
ASPECT SOFTWARE: Case Summary & 50 Largest Unsecured Creditors
ASPECT SOFTWARE: Files Ch. 11 With Deal to Reduce $795M Debt
AZIZ CONVENIENCE: Final Decree Entered, Chapter 11 Case Closed
BUDD COMPANY: March 11 Hearing on 5th Amended Disclosures

BUFFETS LLC: Requests Joint Administration of Cases
BUFFETS LLC: Seeks Nod for Consolidated List of Top Unsec Creditors
BUILDERS FIRSTSOURCE: Raging Capital Has 5.4% Stake as of March 4
CANAL ASPHALT: Files Liquidation Plan; Auction Set for April 21
CANAL ASPHALT: SSG Capital to Assist in Sale of Asphalt Plant

CENVEO INC: Moody's Lowers CFR to Caa2 & Changes Outlook to Neg.
CHINA BAK: Xiangqian Li Resigns as Chairman, CEO & President
CIPHERLOC CORP: Reports $230,000 Net Income for Dec. 2015 Quarter
CLEAREDGE POWER: Court Confirms Debtors' 2nd Amended Plan
CONGREGATION BIRCHOS: Sale Free of Yeshiva's Interests, Bank Says

CTI BIOPHARMA: Dr. Mary Mundinger Won't Seek Re-Election
DETROIT PUBLIC SCHOOLS: Taps Judge Rhodes as Transition Manager
DF SERVICING: AFS CPA Group Approved as Auditor
DF SERVICING: Hires Salichs Pou as Special Counsel
EAST ORANGE GENERAL: Expands PwC Role to Include Valuation

EXTREME PLASTICS: PACCAR Seeks Adequate Protection
EXTREME PLASTICS: Taps Epiq as Administrative Advisor
EXTREME PLASTICS: Taps Epiq as Claims, Noticing Agent
FC WINDENERGY: German Case Recognized as "Foreign Main Proceeding"
FELD LIMITED: Taps Jon Anderson to Handle Tenant/Landlord Suits

FJK PROPERTIES: Full-Payment Plan Confirmed After $21.5M Sale
FJK PROPERTIES: Says Creditors Paid, Wants Case Closed
FOREST PARK SOUTHLAKE: Court Set to Hear Tax Consultant Hiring
FOREST PARK: Needs Time to Close Sale Before Ending FPMC Deal
GINGER OIL: Has Access to Cash Collateral Until April 27

GUIDED THERAPEUTICS: Inks Amendment #8 to 2014 Promissory Notes
HAGGEN HOLDINGS: Wants Plan Filing Exclusivity Until June 6
HEMCON MEDICAL: Goldstein & McClintock Okayed as Committee Counsel
HEMCON MEDICAL: Healthios Approved as Panel's Investment Banker
HEMCON MEDICAL: Taps Miller Nash Over Intellectual Property Issues

HEMCON MEDICAL: Zupancic Okayed as Committee's Oregon Counsel
HORSEHEAD HOLDING: Wants April 17 as General Claims Bar Date
ICONIX BRAND: S&P Affirms 'B' CCR & Rates $300MM Sec. Loan 'B'
ICTS INTERNATIONAL: Atzmon Has 18.6% Ownership
IDERA PHARMACEUTICALS: Files Investor Presentation with SEC

IHEARTCOMMUNICATIONS INC: Moody's Affirms Caa2 Corp. Family Rating
IHEARTMEDIA INC: S&P Puts 'CCC' CCR on CreditWatch Negative
JOYCE LESLIE: Clear Thinking Approved as Financial Advisor
JOYCE LESLIE: Court Approves Oberon as Investment Banker
JOYCE LESLIE: Goldberg Weprin Approved as Bankr. Counsel

LATTICE INC: Obtains $375,000 Loan From Cantone Asset
LEVEL 3 FINANCING: Fitch Gives BB Rating on Unsec. Notes Due 2026
LEVEL 3 FINANCING: Moody's Assigns B1 Rating on New $500MM Notes
LEVEL 3 FINANCING: S&P Assigns 'B' Rating on $500MM Sr. Notes
LIQUIDMETAL TECHNOLOGIES: Incurs $7.31 Million Net Loss in 2015

MARVELL TECHNOLOGY: Seeks Extension of Nasdaq Listing Compliance
METROPOLITAN AUTOMOTIVE: Files Schedules of Assets & Liabilities
METROPOLITAN AUTOMOTIVE: Gets Court OK to Retain Pachulski as CRO
METROPOLITAN AUTOMOTIVE: Hires Winthrop Couchot as Gen. Counsel
METROPOLITAN AUTOMOTIVE: Stipulates With UST Over Winthrop Fees

MID-STATES SUPPLY: Required by Lender to Complete Sale by April 15
MISSISSIPPI PHOSPHATES: UCC Bid for Standing Unopposed, Approved
NCR CORP: $250MM Share Repurchase No Impact on Moody's Ba3 CFR
NEW LOUISIANA: March 15 Hearing to Estimate Tort Claims
NEW LOUISIANA: March 15 Hearing to Extend Plan Filing Date

NEW YORK LIGHT: Amended Order on Premium Financing Deals Entered
NEW YORK LIGHT: Has Access to Cash Collateral Until June
O.W. BUNKER: Liquidation Plans Declared Effective
OMINTO INC: Posts $2 Million Net Loss During Dec. 2015 Quarter
PARC ENGLAND: Case Summary & 20 Largest Unsecured Creditors

PETROLEUM PRODUCTS: Wants Extension of Schedules Filing Deadline
PREMIER PAIN: U.S. Trustee Unable to Appoint Committee
PRESSURE BIOSCIENCES: Gets Add'l $550,000 From Private Offering
PRIMA BIOMED: Receives NASDAQ Bid Price Deficiency Notice
PRIME GLOBAL: Gets Approval for Revised Development Land Order

PRIME GLOBAL: Sek Fong Wong Resigns as Secretary
PROSPECT HOLDING: S&P Lowers ICR to 'SD' on Finalized Tender Offer
QUICKSILVER RESOURCES: Canada Unit COO Gets $89,000 Bonus
QUICKSILVER RESOURCES: Canada Unit Sells Oil & Gas Biz for $79M
REALOGY HOLDINGS: Jessica Bibliowicz Quits as Director

REEVES DEVELOPMENT: Ordered to File 4th Amended Plan & Disclosures
REHOBOTH MCKINLEY: Fitch Keeps $5.6MM 2007 Bonds on Watch Negative
RESEARCH SOLUTIONS: 12 West Has 9.3% Stake as of Feb. 26
RESOLUTE ENERGY: S&P Lowers CCR to 'CCC-', Outlook Negative
REXFORD PROPERTIES: Taps Sherwood Partners as Finc'l. Advisors

RWL INVESTMENTS: Case Summary & 9 Unsecured Creditors
RWL INVESTMENTS: Files Schedules of Assets and Liabilities
SEMGROUP CORP: Moody's Lowers CFR to 'B2', Outlook Stable
SIBLING GROUP: Posts $1.19 Million Net Loss in Dec. 2015 Quarter
SPIG INDUSTRY: Judge Set to Confirm Plan Over Grundy Objections

ST MICHAEL'S: Has Until June 5 to Remove Pending Actions
SUNTECH AMERICA: IRS Objects to Plan Releases
SUNTECH AMERICA: Plan Confirmation Hearing Deferred
SURGICAL CARE: Moody's Raises CFR to B1, Outlook Stable
T-REX OIL: Posts $1.5 Million Net Loss in Dec. 2015 Quarter

TANDOORI AT TRANSIT: Case Summary & 20 Top Unsecured Creditors
TASC INC: Moody's Affirms B2 CFR & Changes Outlook to Negative
THERAPEUTICSMD INC: Presents Data From Phase 3 Rejoice Trial
TOWN SPORTS: S&P Lowers CCR to 'SD' on Debt Repurchase
TRAC INTERMODAL: Moody's Assigns Caa1 Rating on $485MM Sr. Notes

ULTRA PETROLEUM: In Default; E&Y Raises Going Concern Doubt
UNIFIEDONLINE INC: Has Going Concern Doubt Amid IWEB Loan Default
US FOODS: S&P Raises Rating on $2.1BB Secured Loan to 'B'
US SILICA: Moody's Lowers CFR to B2, Outlook Remains Negative
USA DISCOUNTERS: Committee's Challenge Period Extended to March 29

VARIANT HOLDING: Disclosure Statement Hearing Set for March 30
VERMILION ENERGY: S&P Affirms 'BB-' CCR Then Withdraws Rating
VULCAN MATERIALS: S&P Raises Rating on Unsecured Notes From 'BB+'
WASHINGTON MUTUAL: Steering Committee Members Enter Into Mediation
[*] Fitch Lowers Ratings on 24 Bonds in 10 CMBS Deals to 'D'

[*] Fitch Says Personal Bankruptcies Set for Sixth Straight Drop
[*] Global Speculative-Grade Default Continues to Rise, Moody's Say
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

ABERCROMBIE & FITCH: S&P Affirms 'BB-' CCR, Outlook Stable
----------------------------------------------------------
Standard & Poor's Ratings Services revised its rating outlook on
Ohio-based Abercrombie & Fitch Co. to stable from negative.  At the
same time, S&P affirmed its 'BB-' corporate credit rating on the
company.

S&P is also affirming the 'BB+' issue-level rating on the
asset-based lending (ABL) revolver.  The '1' recovery rating is
unchanged and reflects S&P's expectations for very high recovery
(90% to 100%) in the event of default.  S&P also affirmed its 'BB-'
issue-level rating on the term loan.  The '3' recovery rating is
unchanged and reflects S&P's expectations for meaningful recovery
at the high end of the 50% to 70% range.

"The outlook revision reflects our expectation for a modest
improvement in operating trends over the next 12 months, and for
credit metrics to remain around the current levels.  The recent
improvement in operating performance indicates the company's
initiatives to right-size the store base and improve merchandise
assortments are beginning to pay dividends, and we expect operating
performance to stabilize further in fiscal 2016," said credit
analyst Andrew Bove.  "Despite our expectations that the company's
EBITDA base will continue to decline over the next 12 to 24 months
as a result of 30 to 40 net store closures per year, we believe
these store closures are a necessary step to reduce the company's
cost structure and compete more effectively in a specialty apparel
segment where e-commerce has increasingly become the preferred
channel for consumers."

The stable outlook reflects S&P's expectation for sequential,
modest improvement in operating performance over the next 12 to 24
months, driven by continued closure of underperforming stores and
improved merchandise assortments.  Although S&P expects the
company's EBITDA base to shrink further over that time frame as a
result of the store closures and neutral- to slightly-negative
same-store sales, S&P forecasts leverage to remain in the mid- to
high-4.0x area, and FFO to debt to remain in the 13% range at the
end of fiscal 2016.

S&P could take a negative rating action if the company fails to
drive traffic through stores and e-commerce as a result of
ineffective merchandising and lower consumer spending on
discretionary items.  This would result in mid-single-digit
same-store sales declines, coupled with a 100-basis-point decline
in gross margin because of increase promotional activity.  Under
this scenario, debt to EBITDA would weaken to the low-5.0x on a
sustained basis.  Continued underperformance and unfavorable
traffic trends could also cause S&P to revise down its assessment
of the business, resulting in a lower rating.

Although unlikely in the near term, S&P could take a positive
rating action if the company can meaningfully improve operating
performance and credit metrics over the next 12 months by improving
traffic trends and further decrease in promotional activity.  Under
this scenario, revenue would grow in the low-single digits
(compared with S&P's forecast of negative mid-single digits) and
gross margin would expand by 200 bps, resulting in sustained debt
to EBITDA under 4.0x.


ASPECT SOFTWARE: Case Summary & 50 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

     Debtor                                     Case No.
     ------                                     --------
     Aspect Software Parent, Inc.               16-10597
        aka Aspect International LLC
        aka Aspect Software Intermediate Holdings LLC
     2325 E. Camelback Road, Suite 700
     Phoenix, AZ 85016

     Aspect Software, Inc.                      16-10598

     VoiceObjects Holdings Inc.                 16-10599

     Voxeo Plaza Ten, LLC                       16-10600

     Davox International Holdings, LLC          16-10601

Type of Business: Technology and Communication Companies

Chapter 11 Petition Date: March 9, 2016

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Judge: Hon. Mary F. Walrath

Debtors'          Joshua A. Sussberg, P.C.
General           Aparna Yenamandra, Esq.
Bankruptcy        KIRKLAND & ELLIS LLP (NEW YORK)
Counsel:          601 Lexington Avenue
                  New York, NY 10022
                  Tel: 212.446.4800
                  Fax: 212.446.4900
                  Email: joshua.sussberg@kirkland.com
                         aparna.yenamandra@kirkland.com

                     - and -

                  James H.M. Sprayregen, P.C.
                  William A. Guerrieri, Esq.
                  KIRKLAND & ELLIS LLP (CHICAGO)
                  300 North LaSalle
                  Chicago, IL 60654
                  Tel: 312.862.2000
                  Fax: 312.862.2200
                  Email: james.sprayregen@kirkland.com
                         will.guerrieri@kirkland.com

Debtors'          Domenic E. Pacitti, Esq.
Co-Bankruptcy     Michael W. Yurkewicz, Esq.
Counsel:          KLEHR HARRISON HARVEY BRANZBURG LLP (DELAWARE)
                  919 Market Street, Suite 1000
                  Wilmington, DE 19801
                  Tel: 302-552-5511
                  Fax: 302-426-9193
                  Email: dpacitti@klehr.com
                         myurkewicz@klehr.com

                     - and -
                 
                  Morton Branzburg, Esq.
                  KLEHR HARRISON HARVEY BRANZBURG LLP  
                 (PHILADELPHIA)
                  1835 Market Street, Suite 1400
                  Philadelphia, PA   19103
                  Tel: 215.569.2700
                  Fax: 215.568.6603
                  Email: mbranzburg@klehr.com

Debtors'          ALIX PARTNERS, LLP
Financial
Advisor:

Debtors'          JEFFERIES LLC
Investment
Banker and
Financial
Advisor:

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

Total Assets: $940 million

Total Debts: $1 billion

The petition was signed by Robert Krakauer, executive vice
president and chief financial officer.

List of Debtor's 50 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
U.S. Bank National Association     Notes Deficiency  Undetermined
Two Liberty Place                      Claim
50 S. 16th Street, Suite 1950
Philadelphia, PA 19102
Attn: Berthan McClean
Tel: 215-761-9322
Email: Bertha.Mcclean@usbank.com

Golden Gate Capital                   Trade Payable    $4,833,333
1 Embradradero 39rd Flr
San Fancisco, CA 94111

Microsoft Licensing                   Trade Payable    $1,528,221
Dept 551 Volume Licensing
6100 Neil Rod Suite 210
Reno, NV 89511-1137

Ernst & Young LLP                     Trade Payable    $1,156,063
PNC Bank
c/o Ernst & Young US LLP
3712 Solutions Center
Chicago, IL 60677-3007
Attn: Eric S. Lewis
Email: gss.accountsreceivable@xe02.ey.com

United States Advanced               Trade Payable       $624,654
Network, Inc.
3080 Northwoods Circle
Norcross, GA 30071
Attn: Michell Clendenen
Tel: 770-453-6034
Fax: 770-729-8589
Email: Michelle@shaw@usan.com

Verint Systems Inc.                   Trade Payable      $435,748
330 South Service Rd
Melville, NY 11747
Tel: 631-962-9446
Fax: 631-962-9300

Arrow Electronics                     Trade Payable      $409,442
7459 S. Lima Street
Englewood, CO 80111
Attn: Ket Seedroff
Tel: 303-566-7035
Fax: 303-790-4945
Email: Kseedroff@arrow.com

Servicesource International Inc.       Trade Payable     $397,614
634 2nd St.
San Francisco, CA 94107
Attn: Denise Goodrum
Tel: 615-523-5450
Email: dgoodrum@servicesource.com

Nuance Communications                  Trade Payable     $349,057
PO Box 2561
Carol Stream, IL 60132-2561
Attn: Janice Buck
Tel: 781-565-5197
Fax: 1 781-565-5197
Email: jaince.buck@nuance.com

Verizon                                Trade Payable     $342,541
PO Box 660206
Dallas, TX 75266-0206

Dell Marketing LP                     Trade Payable      $274,173
PO Box 802816
Chicago, IL 60680-2816
Attn: Nagaraj G K
Tel: 1800-571-3355
Fax: 512-283-9092
Email: Nagaraj_g_k@dell.com

Microsoft Corporation                 Trade Payable      $249,199
Attn: Lockbock 849045
1950 N Stemmons FWY
Suite 5010
Dallas, TX 75207
Attn: Romelds Irish Gadut
Tel: (425) 897-3623
Fax: 425-708-6859
Email: V-Romirg@Microsoft.com

Bandwidth.com Inc.                    Trade Payable      $241,049
Email: Rveintimilla@Bandwidth.com

CDW Direct LLC                        Trade Payable      $234,756
Email: Achremittance@CDW.com

Oracle America Inc.                   Trade Payable      $229,065
Email: Balaji.r@oracle.com

Comsys SA                             Trade Payable      $205,833
Email: info@comsys.gr

Clink Limited                         Trade Payable      $198,408
Email: V.Galakos@comsys.gr

Verizon Business                      Trade Payable      $186,987
Email: Kyle.ebert@verizon.com

Rackspace Hosting                     Trade Payable      $186,384

Octasic Semiconductor                 Trade Payable      $176,880
Email: Janie.Duguay@octasic.com

Amazon Web Services LLC               Trade Payable      $165,199
Email: Aws-receivables-support@
email.amazon.com

Microsoft Licensing                   Trade Payable      $164,279
Email: v-krbact@microsoft.com

Google, Inc.                          Trade Payable      $160,364
Email: remittance-request@google.com

Intradiem Inc.                        Trade Payable      $155,369
Email: Jhallaszyn@intradiem.com

American Express TRS                  Trade Payable      $150,001

AGC Networks Inc.                     Trade Payable      $138,000
Email: Ar.US@agcnetworks.com

Fedex                                 Trade Payable      $137,605

Adage Technologies Inc.               Trade Payable      $125,041

Xactly Corporation                    Trade Payable      $116,501

Willpowers Corp.                      Trade Payable      $116,280

Business Objects Software Ltd.        Trade Payable      $115,748
Email: Rveintimilla@bandwidth.com

IEC Electronics Corp.                 Trade Payable      $102,580
Email: Sbarry@iec.electronics.com

PSS, Inc.                             Trade Payable      $102,573
Email: Billingdept@pss-inc.net

Microsoft Corporation                 Trade Payable      $101,392

Global Crossing Telecommunications    Trade Payable       $99,937
Email: paula.jones@level3.com

EC Sourcing, LLC                      Trade Payable       $99,620
Email: ecsmanager@comcast.net

Sunera LLC                            Trade Payable       $93,089
Email: cverscharen@sunera.com

Arrow Electronics                     Trade Payable       $89,350
Email: kseedroff@arrow.com

Emergtech Business Solutions Inc.     Trade Payable       $84,060
Email: invoices@emergtechinc.com

AT&T                                  Trade Payable       $83,690

SRI International  Inc.               Trade Payable       $82,705
Email: douglas.bercow@sri.com

Nintex USA LLC                        Trade Payable       $79,770
Email: donna.williams@nintex.com

EG Solutionos PLC                     Trade Payable       $74,245
Email: nickcuryer@egoptimize.com

Chrysalis Software, Inc.              Trade Payable       $73,000
Email: desai@waterfield.com

Intelepeer, Inc.                      Trade Payable       $67,531

Crossrealms Inc.                      Trade Payable       $66,873

Baker and McKenzie                    Trade Payable       $63,404
Email:
Deborah.kozie@bakermckenzie.com

Infosage Systems India PVT Ltd        Trade Payable       $59,644
Email:
ramesh.reddy@infosagesystems.com

Brightlink Communications             Trade Payable       $59,589
Email: ar@brightlinkip.com

Empirix Inc.                          Trade Payable       $54,938
Email: customercare@empirix.com


ASPECT SOFTWARE: Files Ch. 11 With Deal to Reduce $795M Debt
------------------------------------------------------------
Aspect Software Parent, Inc., commenced a case under Chapter 11 of
the Bankruptcy Code with a pre-arranged agreement with certain
unaffiliated holders of its debt obligations to eliminate
approximately $320 million of second lien debt, equitize $60
million of first lien claims, and provide Aspect with access to $60
million through a rights offering.  The Company expects to complete
the restructuring within 105 days from the Petition Date.

"This transaction marks a major milestone in the multi-year
transformation of Aspect's business, through which we have evolved
from a legacy technology company that sold a limited set of
on-premises contact center software, to a contemporary and
comprehensive provider of contact center and workforce optimization
solutions in the cloud," said Stew Bloom, Aspect's Chairman and
CEO.  "By resetting our capital structure and dramatically
improving our balance sheet, we will be well-positioned to compete
over the long-term while continuing to accelerate investments in
our product and service capabilities."

Court documents show that as of Dec. 31, 2015, Aspect had
approximately $940 million in book value in assets and $1 billion
in total liabilities.  As of Dec. 31, 2015, Aspect's significant
funded debt obligations include: (a) approximately $29 million of
principal amount and $1 million of issued letters of credit
obligations under the First Lien Revolving Credit Facility; (b)
approximately $445 million of principal amount of obligations under
the First Lien Term Loan; and (c) approximately $320 million in
principal amount of Second Lien Secured Notes.

The bankruptcy filing came amid the current and impending
maturities of its $475 million first lien secured debt (the
revolver matured on March 8, 2016 and the term loans mature on  May
7, 2016).  The Company realized that a refinancing of the first
lien secured obligations did not seem feasible and the magnitude of
its cash interest payment obligations -- approximately $34 million
annually -- was unsustainable.

Stewart M. Bloom, chairman and chief executive officer of Aspect,
said: "Like most technology and communication companies worldwide,
Aspect has consistently strived to stay competitive with its peers
by developing new product lines and business initiatives, all of
which require significant research and development investments as
well as capital expenditures."  He continued, "At the same time,
Aspect has had to mitigate the effects of competition,
technological change, and the delayed realization of profits from
these new product lines."

According to Mr. Bloom, Contact Centers have evolved from live
agents to multichannel that combine automated and live-agent
options along with a host of available platforms such as SMS
texting, mobile applications, e-mails, web interaction, messaging
capabilities, and social media.  Cloud-based, on-demand technology
that allows parties to share information over the Internet has
increasingly become the norm, with a focus on minimal management
effort, reduced infrastructure costs, and ability to be utilized on
previously unable platforms such as tablets and smartphones.
Aspect also faces significant competition from, among others,
Avaya, Genesys Laboratories, Cisco, Interactive Intelligence, Nice
Systems, and Verint.

"The state of transformation in Aspect's primary product lines and
the need for capital that is required to be on the cutting-edge of
software solutions has been especially challenging given Aspect's
highly-leveraged capital structure," Mr. Bloom said.

Starting May 2015, Aspect had commenced a formal process to address
its capital structure.  In light of the potential that third
quarter 2015 results would likely reflect a decline in key
financial metrics, Aspect began exploring sale options.  However,
Aspect said no party has submitted a superior proposal.

                       Plan Support Agreement

After a year of planning, discussions, and negotiations, Aspect has
reached an agreement with a group of approximately 60% of the First
Lien Term Loan lenders and an ad hoc group of holders of certain
claims against the debtors (holding, in some instances, interests
in the First Lien Term Loan as well), reflecting those creditors'
support of a proposed plan of reorganization.

The transaction is supported by 33.3% of holders of First Lien
Revolver Claims, 94% of First Lien Term Loan Claims, and 42% of
holders of Second Lien Note Claims, all of whom have executed a
plan support agreement with Aspect.

Among other things, the Term Sheet generally contemplates that:

   (a) holders of $60 million of first lien claims will equitize
       such $60 million of first lien claims and receive 100% of
       the equity in reorganized Aspect;

   (b) holders of first lien revolver claims that are not
       equitized as part of the aforementioned $60 million and
       who agree to participate on a dollar-for-dollar basis in
       the new first lien revolver will have their prepetition
       first lien revolver claims paid in full in cash;

   (c) all other first lien claims will receive their pro rata
       share of (i) an amended and restated senior secured first
       lien term loan in the principal amount of $386 million,
      (ii) cash in an amount equal to the amount of first lien
       revolving claims that are being equitized, and (iii) cash
       in an amount equal to the amount of first lien revolver
       claims for which the holders thereof do not agree to
       participate in the new first lien revolver;

   (d) holders of second lien note claims will receive the right
       to participate in a $60 million new money investment for
       new HoldCo PIK securities that will convert into 25% of the
       equity in reorganized Aspect in certain circumstances,  
       which new money investment will be backstopped by the
       Backstop Parties and potentially certain holders of
       first lien revolver claims;

   (e) holders of general unsecured claims will be paid in full in
       cash; and

   (f) holders of existing equity in Aspect will not receive any
       recovery.

"Backstop Parties" means certain funds or accounts managed,
advised, or sub-advised by GSO Capital Partners LP, certain funds
and accounts managed and advised by MidOcean Credit Fund
Management, LP, and certain funds or accounts managed, advised, or
sub-advised by Guggenheim Partners Investment Management, LLC or
its affiliates.

The Term Sheet also details the key terms regarding a
debtor-in-possession facility in the amount of $30 million being
provided by certain holders of First Lien Claims.

The pre-arranged agreement is principally led by certain affiliates
and funds of GSO Capital, a unit of The Blackstone Group,
Guggenheim Partners Investment Management, LLC, LLC and MidOcean
Credit Partners.  GSO Capital Partners LP is the global credit
investment platform of Blackstone, one of the world's leading
investment firms with $330B in assets under management.  Guggenheim
Partners Investment Management, LLC is an affiliate of Guggenheim
Partners, a global investment and advisory firm.  MidOcean Credit
Partners is a multi-billion alternative credit manager and is
affiliated with MidOcean Partners, a New York based private equity
firm.

                         First Day Motions

To minimize the adverse effects on its business, Aspect has filed
motions and pleadings seeking various types of "first day" relief
seeking authority to, among other things, pay employee obligations,
utilize existing cash management system, pay prepetition claims of
critical vendors, and prohibit utility providers from discontinuing
services.

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

         http://bankrupt.com/misc/4_ASPECT_Affidavit.pdf

                       About Aspect Software

Headquartered in Phoenix, Arizona, with 38 offices located in 19
countries, Aspect Software serves as a global provider of software
systems and equipment for contact centers that service the needs of
customers across various industries.  Aspect delivers solutions to
more than 2,200 Contact Centers in more than 70 countries, and its
products currently support approximately 1.5 million contact center
agent seats, managing over 100 million enterprise customer
interactions daily.

Aspect Software Parent, Inc., Aspect Software, Inc., VoiceObjects
Holdings Inc., Voxeo Plaza Ten, LLC and Davox International
Holdings, LLC filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Proposed Lead Case No. 16-10597) on March 9, 2016.  Robert Krakauer
signed the petitions as executive vice president and chief
financial officer.

The Debtors have hired Kirkland & Ellis LLP as general bankruptcy
counsel, Klehr Harrison Harvey Branzburg LLP as co-bankruptcy
counsel, Alix Partners, LLP as financial advisor, Jefferies LLC as
investment banker and Prime Clerk LLC as claims, notice, and
balloting agent.


AZIZ CONVENIENCE: Final Decree Entered, Chapter 11 Case Closed
--------------------------------------------------------------
The Hon. Eduardo V. Rodriguez of the U.S. Bankruptcy Court for the
Southern District of Texas entered a final decree closing the
Chapter 11 case of Aziz Convenience Stores, L.L.C.

The Court found that the estate has been fully administered and
that the plan is fully consummated.

The Debtor has sold substantially all of its assets and distributed
the proceeds.  The Debtor said closing the case would avoid the
additional expense of maintaining the case.

As reported in the Troubled Company Reporter on Dec. 31, 2015, the
Debtor has paid off its primary secured creditors from various sale
transactions, and believes that it has enough funds to pay off
remaining creditors in full under its confirmed plan of
reorganization.

On April 14, 2015, the Bankruptcy Court entered an order approving
the sale of the 200-acre property in Hidalgo County, Texas, to Mr.
Taek Kim for a total purchase price of $4,500,000.  Pursuant to the
sale order, the secured claim of Greenwich Investors XLV Trust
2013-1 was paid in full from the sale proceeds. After closing
costs, broker's fees and payment of the Greenwich Secured Claim,
the Debtor received $379,405.35 from the sale.  Most of these sale
proceeds were paid to the Comptroller as partial payment of its
claim against the Estate.

On July 28, 2015, the Bankruptcy Court approved the sale of the
bulk of the Debtor's assets to Susser Petroleum Property Company
LLC, following a marketing process of approximately six months.
Susser, the stalking horse buyer, submitted an offer of $28 million
plus inventory.  At the July 14, 2015 bid deadline, the Debtor
received two qualifying overbids.  At an auction held July 20,
Susser emerged as the winning bidder with a $41,600,000 offer for
27 of the 28 Stores, plus the purchase of the Debtor's inventory.  
Circle K Stores Inc. submitted a $41,500,000 backup bid.  The sale
to Susser closed on Aug. 10, 2015.

As a result of the due diligence conducted by Susser certain
potential environmental issues related to the Stores were
discovered. Thus, in connection with the Susser Transaction, the
Debtor funded an escrow reserve of $519,000 to cover potential
remediation and monitoring expenses. All rights to any remainder of
this escrow fund shall transfer to Newco as part of the Residual
Estate. Further, Susser opted to exclude Store #2 from the Susser
Transaction.  As a result, on the Effective Date, Store #2 will be
transferred to Newco as part of the Residual Estate.

Pursuant to a settlement approved by the bankruptcy court on June
23, 2015, Plains Capital Bank's secured claim was capped at
$27,601,798, and secured claim was paid from the cash proceeds from
the Susser Transaction.

In addition, on Aug. 8, 2015, the Bankruptcy Court entered an order
approving a compromise by and between the Debtor and the
Comptroller of Public Accounts for the State of Texas.  The terms
of the settlement provided for full and final satisfaction of the
Sales & Excise Tax Claim and full and final payment of the
Comptroller's claim for franchise taxes due in 2015.  On September
2, 2015, the Debtor paid the amounts due to the Comptroller under
the Comptroller Settlement thereby satisfying the Sales & Excise
Claim in full.

As a result of the 200 Acres Sale and the Susser Transaction -- in
connection with the PCB Settlement and the Comptroller Settlement
-- the largest Secured Claims against the Debtor have been fully
satisfied. Further, the Debtor does not anticipate significant
Non-tax Priority Claims.  As a result, the Debtor anticipates that
on the Effective Date there will exist sufficient Available Cash to
pay Allowed Administrative Claims in full and to pay Allowed
General Unsecured Claims the full amount of their prepetition claim
amounts.  The remainder, or the Residual Estate, shall be
transferred to Newco for the benefit of Equity Interest Holders.

Allowed Administrative Claims and Allowed Priority Tax Claims
against the Debtor will be paid in cash and in full from the Debtor
on the later of (i) the Effective Date, (ii) the date on which such
Claim becomes an Allowed Claim; or (iii) such date as the Plan
Agent and the holder of the Allowed Administrative or Allowed
Priority Tax Claim shall agree.  Allowed Administrative Claims and
Priority Tax Claims are not entitled to post-petition interest.

The Plan designates only two classes:

   * Class 1 - General Unsecured Claims.  Class 1 is comprised
     of all Allowed General Unsecured Claims against the Debtor.

   * Class 2 - Equity Interests.  Class 2 is comprised of all
     Allowed Equity Interests in the Debtor.

Holders of Allowed General Unsecured Claims will receive a Pro Rata
share of Distributions from Available Cash up to the Allowed Amount
of the Class 1 Claim without payment of postpetition interest.  On
the Effective Date, the Residual Estate will be transferred to
Newco for the benefit of Allowed Equity Interests. Once the Plan
Agent has paid all Allowed Administrative Claims, Allowed Priority
Tax Claims, and Allowed General Unsecured Claims and satisfied all
costs of administering the Plan, all remaining funds in the Plan
Reserve will be paid to Newco.  In addition, any remaining Causes
of action not resolved by the Plan Agent shall be assigned to
Newco.

A copy of the Plan of Reorganization and Related Disclosure
Statement dated Sept. 23, 2015, is available for free at:

         http://bankrupt.com/misc/Aziz_C_366_Plan_DS.pdf

The Debtor is represented by:

         Matthew S. Okin, Esq.
         George Nino, Esq.
         David L. Curry, Jr.
         OKIN & ADAMS LLP
         1113 Vine St. Suite 201
         Houston, TX 77002
         Tel: (713) 228-4100
         Fax: (888) 865-2118
         E-mails: mokin@okinadams.com
                  gnino@okinadams.com
                  dcurry@okinadams.com

                      About Aziz Convenience

Aziz Convenience Stores, L.L.C., owned 28 convenience stores with
gas pumps in Texas.  Aziz also claimed to be the beneficial owner
of a 205.888 acre real property in Hidalgo County, Texas, which was
purchased by its principal, Dagoberto G. Trevino, using Aziz's
funds.

Aziz Convenience Stores filed a Chapter 11 bankruptcy petition
(Bankr. S.D. Tex. Case No. 14-70427) in its hometown in McAllen,
Texas, on Aug. 4, 2014.

The Debtor tapped Okin & Adams LLP as general bankruptcy counsel
and Douglas J. Brickley and The Claro Group, LLC as Chief
Restructuring Officer and financial advisors.  The Debtor also
engaged Keen as its investment banker to market the Debtor's assets
for sale or refinancing.  Additionally, the Debtor hired Wick
Phillips Gould & Martin, LLP and Munsch Hardt Kopf & Harr, P.C., as
special counsel.


BUDD COMPANY: March 11 Hearing on 5th Amended Disclosures
---------------------------------------------------------
Bankruptcy Judge Jack. B. Schmetterrer scheduled a hearing for
March 11, 2016, at 1:30 p.m. to consider approval of the disclosure
statement explaining former automotive parts supplier The Budd
Company, Inc.'s Fifth Amended Plan.

Objections to the Fifth Amended Disclosure Statement are due March
9.

The Debtor on March 1, 2016, filed a Fifth Amended Disclosure
Statement, a copy of which is available for free at:

    http://bankrupt.com/misc/Budd_Co_1627_DS_5th_Am_Plan.pdf

The International Union, United Automobile, Aerospace and
Agricultural Implement Workers of America (UAW), filed objections
to the prior iterations of the Disclosure Statement.

The UAW, which received an advance copy of the Fifth Amended
Disclosure Statement, said, "As the Court is aware, the UAW has
twice objected to earlier iterations of the Debtor's disclosure
statement.  While some of these objections have been remedied, many
have not.  Notwithstanding the Debtor's fifth attempt to adequately
disclose information regarding its proposed plan, the February 22
Fifth Amended DS Draft still fails to provide basic and critical
information, and remains materially misleading in many respects."

The UAW is represented by Cleary Gottlieb Steen & Hamilton LLP and
Crane, Heyman, Simon, Welch & Clar.

                           Terms of Plan

The Budd Company's Chapter 11 plan is premised on a settlement
with
parent ThyssenKrupp North America, Inc.  To monetize the Debtor's
largest causes of action, the Plan seeks approval of the TKNA
Settlement Agreement, which provides for, among other things,
that:

   1. TKNA will pay on behalf of the Debtor directly to the UAW
      VEBA for the benefit of the UAW Retirees $285 million Cash,
      over a period of eight years, starting on October 3, 2016,
      subject to adjustment.

   2. If the Confirmation Order includes the Waupaca Claims
      Release, then TKNA will pay on behalf of the Debtor
      directly to the UAW VEBA for the benefit of the UAW
      Retirees an additional $35 million cash, over a period of
      eight years starting on Oct. 3, 2016, subject to
      adjustment.  If the Confirmation Order does not include the
      Waupaca Claims Release, then the Independent Fiduciary will
      have authority to prosecute claims against KPS for the sole
      benefit of the UAW Retirees.

   3. TKNA will pay on behalf of the Debtor directly to the E&A
      VEBA for the benefit of the E&A Retirees $15 million Cash,
      subject to upward adjustment.

   4. The Cash contributed by TKNA, as well as what is projected
      to be more than $200 million of the Debtor's Effective Date
      Cash, will fund the Debtor's Retiree Benefits obligations
      as modified.

   5. TKNA will issue the Letter of Credit in an amount not less
      than $35 million, which Letter of Credit will secure TKNA's
      payment obligations to the UAW VEBA.

   6. TKNA will assume the Pension Plans (which means that the
      ERISA Pension Plans and the SERP would remain in effect
      without change).  This assumption will have the effect of
      eliminating the claims filed by the PBGC, asserting
      liability well over $100 million.

   7. TKNA affirms that it is solely responsible for the Debtor's
      Workers Compensation Claims.

   8. TKNA will assume financial responsibility for Claim number
      521 Filed by Waupaca Foundry, Inc. in the Chapter 11 Case.

   9. TKNA will continue to provide administrative services to
      the Debtor under the terms of the Amended Services
      Agreement (which is attached to the TKNA Settlement
      Agreement).

  10. TKNA and the other Affiliates will waive and release all of
      their respective Claims and potential Claims against the
      Debtor, which Claims TKNA asserts may be worth hundreds of
      millions of dollars, if not more, subject to TKNA's
      reserved setoff rights.

  11. TKNA will continue to own the Equity Interests of the
      Debtor.

  12. TKNA will appoint an Independent Fiduciary acceptable to
      the UAW, who will be responsible for enforcing the TKNA
      Settlement Agreement and will oversee contributions to the
      Retiree VEBAs pursuant to the Plan.

  13. The UAW VEBA and the E&A VEBA are third party beneficiaries
      of the TKNA Settlement Agreement and have authority to
      enforce the TKNA Settlement Agreement.

In exchange for the benefits to be received by the Debtor and its
creditors, the Debtor would release TKNA, other affiliates
including TKAG, Clark Hill, BAML, KPS, Perella Weinberg, and the
officers, directors, and other agents of the foregoing from all
potential claims and causes of action.

According to the Disclosure Statement explaining the Fifth Amended
Plan, holders of non-priority tax claims (Class 1) and secured
claims (Class 2) are expected to have a 100% recovery.  In
satisfaction of the 4,000 UAW retiree benefit claims (Class 3),
which are now scheduled as unliquidated, the UAW VEBA will be
established and funded for the benefit of the UAW Retirees.  In
satisfaction of the 1,000 E&A retiree benefit claims (Class 4),
which are now scheduled as unliquidated, the E&A retirees will
receive retiree benefits through the E&A VEBA.  As to asbestos
claims (Class 5), allowed insured asbestos claims will have an
estimated recovery of 100% from the proceeds of asbestos insurance
policies and holders of uninsured asbestos claims will have a
recovery of 66%, from the asbestos claim fund.  Holders of 11
general unsecured claims totaling $7.5 million (Class 6) will
receive cash equal to the amount of 66% of the allowed amount of
their claims.  The 78 holders of claims assumed by TKNA in the
aggregate amount of $228 million (Class 7) will have a 100 percent
recovery.  As for the equity interests (Class 8), TKNA will retain
100% of the equity interests in the Debtor in accordance with the
TKNA Settlement Agreement.

Presently, the Debtor estimates that it will be holding
approximately $254 million of cash as of July 1, 2016.

                          1114 Application

On Jan. 6, 2016, The Budd Company, Inc., filed an application
pursuant to section 1114 of chapter 11 of title 11 of the United
States Code, seeking an order authorizing the Debtor to modify
certain retirement benefits owed to its retirees who were members
of the UAW.  The Court conducted an evidentiary hearing on the 1114
Application on January 21, 22, 28, and 29, 2016, and February 1, 4
and 5, 2016.  The Debtor's response to UAW's post-trial proposed
findings of fact and conclusions of law regarding the Debtors'
application is available for free at:

    http://bankrupt.com/misc/Budd_Co_1623_1114_App_Brief.pdf

                      About The Budd Company

The Budd Company, Inc., a former supplier to the automotive
industry, filed for chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 14-11873) on March 31, 2014, with a deal to settle
potential claims against its parent, ThyssenKrupp AG.

The company -- which ceased manufacturing operations in 2006 and
does not have any current employees, facilities or customers --
has obligations consisting largely of medical and other benefits
to approximately 10,000 former employees.

Liabilities amount to approximately $1 billion with assets of
approximately $400 million.  Most of the debt consists largely of
medical and other benefits to approximately 10,000 former
employees.

The Debtor disclosed $387,555,681 in assets and $1,107,350,034 in
liabilities as of the Chapter 11 filing.

The Hon. Jack B. Schmetterer oversees the case.  The Debtor has
tapped Proskauer Rose LLP as Chapter 11 counsel, Dickinson Wright
PLLC as special counsel, Epiq Bankruptcy Solutions, LLC as
noticing, claims and balloting agent, and Conway MacKenzie
Management Services, LLC's Charles M. Moore as CRO.

The U.S. Trustee appointed five individuals to serve on the
Committee of Executive & Administrative Retirees.  The Segal
Company (Eastern States), Inc. serves as the Committee's actuarial
consultant.  The Committee retained Solic Capital Advisors, LLC as
its financial advisor.

Reed Heiligman, Esq., at FrankGecker LLP, in Chicago, Illinois,
represents the ad hoc committee of asbestos personal injury
claimants.


BUFFETS LLC: Requests Joint Administration of Cases
---------------------------------------------------
Buffets, LLC, et al., ask the Bankruptcy Court to direct the joint
administration of their Chapter 11 cases for procedural purposes
under the Lead Case No. 16-50557.

The Debtors also request that the Clerk of the Court maintain one
file and one docket for their Chapter 11 cases, which file and
docket will be the file and docket for Buffets, LLC.

According to the Debtors, joint administration will:

   (a) ease the administrative burden on the Court and all
       parties-in-interest;

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

   (c) significantly reduce the volume of paper that otherwise
       would be filed with the Clerk of the Court, render the
       completion of various administrative tasks less
       costly and minimize the number of unnecessary delays;
       and

   (d) simplify supervision of the administrative aspects of these

       Chapter 11 cases by the Office of the United States
       Trustee.

                         About Buffets LLC

Buffets LLC, et al., are one of the largest operators of
buffet-style restaurants in the U.S.  The buffet restaurants,
located in 25 states, principally operate under the names Old
Country Buffet(R), Country Buffet(R), HomeTown(R) Buffet, Ryan's(R)
and Fire Mountain(R).  These locations primarily offer self-service
buffets with entrees, sides, and desserts for an all-inclusive
price.  In addition, Buffets owns and operates an 10-unit full
service, casual dining chain under the name Tahoe Joe's Famous
Steakhouse(R).

Buffets Holdings, Inc., filed for Chapter 11 relief in January 2008
and won confirmation of a reorganization plan in April 2009.  In
January 2012, Buffets again sought Chapter 11 protection and
emerged from bankruptcy in July 2012.

In Aug. 19, 2015, Alamo Ovation, LLC acquired Buffets Restaurants
Holdings, Inc., and as a result of the merger, Buffets
operated over 300 restaurants in 35 states.

Down to 150 restaurants in 25 states after closing unprofitable
locations, Buffets LLC and its affiliated entities sought Chapter
11 protection (Bankr. W.D. Tex. Case No. Lead Case No. 16-50557) in
San Antonio, Texas, on March 7, 2016.  The cases are assigned to
Judge Ronald B. King.

The Debtors have tapped Akerman, LLP as counsel, Bridgepoint
Consulting, LLC as financial advisor and Donlin, Recano & Company
as claims and noticing agent.


BUFFETS LLC: Seeks Nod for Consolidated List of Top Unsec Creditors
-------------------------------------------------------------------
Buffets, LLC, et al., seek the Bankruptcy Court's approval of the
filing of a consolidated list of 30 largest general unsecured
creditors in lieu of submitting separate creditor lists for each
Debtor.  The Debtors also redacted certain personal identification
information for individual creditors.

The Debtors assert that the Top 30 List will help alleviate
administrative burdens, costs, and the possibility of duplicative
service.  Although they reserve the right to do so in the future,
the Debtors are not requesting authority to file consolidated
schedules of assets and liabilities and statements of financial
affairs at this time.

The Debtors aver that cause exists to authorize them to redact the
address information of individual creditors -- many of whom are
their employees -- from the Creditor Matrix because such
information could be used to perpetrate identity theft.  The
Debtors propose to provide an un-redacted version of the Creditor
Matrix to the Court, the Office of the United States Trustee for
the Western District of Texas, and any official committee of
unsecured creditors appointed in these Chapter 11 cases.

Through Donlin, Recano & Company, the Debtors' noticing and claims
agent, the Debtors propose to serve the Notice of Commencement on
all parties to advise them of the meeting of creditors under
Section 341 of the Bankruptcy Code.  The Debtors said the service
of the single Notice of Commencement will not only avoid confusion
among creditors, but will prevent them from incurring unnecessary
costs associated with serving multiple notices to the parties
listed on their voluminous creditor matrix.

The list of the Debtors' 30 Largest General Unsecured Creditors was
filed contemporaneously with the bankruptcy petitions.

                         About Buffets LLC

Buffets LLC, et al., are one of the largest operators of
buffet-style restaurants in the U.S.  The buffet restaurants,
located in 25 states, principally operate under the names Old
Country Buffet(R), Country Buffet(R), HomeTown(R) Buffet, Ryan's(R)
and Fire Mountain(R).  These locations primarily offer self-service
buffets with entrees, sides, and desserts for an all-inclusive
price.  In addition, Buffets owns and operates an 10-unit full
service, casual dining chain under the name Tahoe Joe's Famous
Steakhouse(R).

Buffets Holdings, Inc., filed for Chapter 11 relief in January 2008
and won confirmation of a reorganization plan in April 2009.  In
January 2012, Buffets again sought Chapter 11 protection and
emerged from bankruptcy in July 2012.

In Aug. 19, 2015, Alamo Ovation, LLC acquired Buffets Restaurants
Holdings, Inc., and as a result of the merger, Buffets operated
over 300 restaurants in 35 states.

Down to 150 restaurants in 25 states after closing unprofitable
locations, Buffets LLC and its affiliated entities sought Chapter
11 protection (Bankr. W.D. Tex. Case No. Lead Case No. 16-50557) in
San Antonio, Texas, on March 7, 2016.  The cases are assigned to
Judge Ronald B. King.

The Debtors have tapped Akerman, LLP as counsel, Bridgepoint
Consulting, LLC as financial advisor and Donlin, Recano & Company
as claims and noticing agent.


BUILDERS FIRSTSOURCE: Raging Capital Has 5.4% Stake as of March 4
-----------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Raging Capital Management, LLC and William C. Martin
disclosed that as of March 4, 2016, they beneficially own 5,903,096
shares of common stock of Builders FirstSource, Inc., representing
5.4 percent (based upon 109,267,948 Shares outstanding, which is
the total number of Shares outstanding as of Nov. 18, 2015, as
reported in the Issuer's Prospectus Supplement to Prospectus filed
with the Securities and Exchange Commission on Nov. 23, 2015).  A
copy of the regulatory filing is available for free at
http://is.gd/u6ARII

                   About Builders FirstSource

Headquartered in Dallas, Texas, Builders FirstSource --
http://www.bldr.com/-- is a supplier and manufacturer of
structural and related building products for residential new
construction.  The Company operates 56 distribution centers and 56
manufacturing facilities in nine states, principally in the
southern and eastern United States.  Manufacturing facilities
include plants that manufacture roof and floor trusses, wall
panels, stairs, aluminum and vinyl windows, custom millwork and
pre-hung doors.  Builders FirstSource also distributes windows,
interior and exterior doors, dimensional lumber and lumber sheet
goods, millwork and other building products.

Builders FirstSource reported a net loss of $22.8 million on
$3.56 billion of sales for the year ended Dec. 31, 2015, compared
to net income of $18.2 million on $1.60 billion of sales for the
year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $2.88 billion in total assets,
$2.73 billion in total liabilities and $149 million in total
stockholders' equity.

                           *     *     *

As reported by the TCR on July 15, 2015, Standard & Poor's Ratings
Services said it raised its corporate credit rating on Builders
FirstSource Inc. to 'B+' from 'B'.  

"The stable outlook reflects our view that Builders FirstSource
will continue to increase sales and EBITDA as U.S. residential
construction continues to recover from an historic downturn and the
company realizes significant synergies from the merger.  As a
result, we expect some improvement in the company's leverage
measures over the next 12 to 24 months while it maintains adequate
liquidity," said Standard & Poor's credit analyst Pablo Garces.

In the May 13, 2014, edition of the TCR, Moody's Investors Service
upgraded Builders FirstSource's Corporate Family Rating to 'B3'
from 'Caa1'.  The upgrade reflects Moody's expectation that BLDR's
operating performance will continue to benefit from improved
housing construction, repair and remodeling.


CANAL ASPHALT: Files Liquidation Plan; Auction Set for April 21
---------------------------------------------------------------
Canal Asphalt Inc. on March 1, 2016, filed a plan of liquidation
and accompanying disclosure statement in the Bankruptcy Court.

Bloomberg.com says the Plan proposes to pay these claims in full,
in cash:

     -- Administrative Claims,
     -- US Trustee Fees,
     -- Priority Non-Tax Unsecured Claims of $0.16 million,
     -- Priority Tax Claims of $0.07 million,
     -- Allowed Secured Mortgage Claims of Signature Bank
        of $5.24 million,
     -- Allowed Secured Mortgage Claim of C.L. of $1.1 million,
     -- Allowed Secured Mortgage Claim of New Flow of $0.5
        million,
     -- Allowed Secured Claim of Putnam of $0.1 million,
     -- Other Secured Claims, and
     -- Allowed General Unsecured Claims of $4.82 million

Equity Interests will be cancelled and will receive cash payment
after paying all other claim holders, Bloomberg.com says.

PCI Industries Corp. has made an offer to acquire for the total
price of $10.8 million the Debtor's asphalt plant at 800 Canal
Street, in Mount Vernon, New York.  The Debtor said in court
filings that PCI's offer would result in the full satisfaction of
all secured debt, including that of Peckham Industries, Inc., plus
a significant distribution to the holders of allowed general
unsecured claims.

Peckham has responded with a bid of its own.  Peckham is offering
to acquire the Plant for a cash payment of $11.0 million. Peckham's
bid will also result in the full satisfaction of all secured
claims, including Peckham's, plus a significant distribution to the
holders of allowed general unsecured claims, according to the
Debtor.

After the Debtor communicated Peckham's higher offer to PCI, PCI
increased its offer to $13.3 million.

The competing bids were brought before the Court at a hearing held
on January 25, 2016. At the hearing, the Bankruptcy Court
authorized the Debtor to proceed with PCI's letter of intent, to be
effectuated through a plan of reorganization, subject to higher and
better offers.

According to Bloomberg.com, the Bankruptcy Court on February 9,
2016, approved revised bidding procedures for the Plant sale.  To
qualify as a qualified bidder, interested parties should submit
their bids by April 14, 2016. Minimum opening bid should be of $11
million or $13.85 million on the same or better payment terms which
includes break-up fee and expense reimbursement. Bidders must
provide a good-faith deposit of $0.10 million.

The auction is set for April 21.  At the auction, the subsequent
bids would be in increments of $0.1 million.

Bloomberg.com says the stalking-horse bidder shall be entitled to
the break-up fee of up to 3% of the purchase price and expense
reimbursement of up to $0.05 million.

                    About Canal Asphalt

Canal Asphalt Inc. filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 15-23094) on July 31, 2015.  The petition was
signed by August Nigro III as president.  The Debtor disclosed
total assets of $20.3 million and total liabilities of $23 million.
Goetz Fitzpatrick LLP serves as the Debtor's counsel.  CohnReznick
LLP serves as financial advisor.  SSG Capital Advisors, LLC serves
as its exclusive investment banker, with respect to the sale of its
asphalt plant at 800 Canal Street, in Mount Vernon, New York.  Hon.
Robert D. Drain presides over the case.


CANAL ASPHALT: SSG Capital to Assist in Sale of Asphalt Plant
-------------------------------------------------------------
Canal Asphalt, Inc., sought and obtained approval from the
Bankruptcy Court to employ SSG Capital Advisors, LLC as its
exclusive investment banker, to assist it in getting the highest
and best offer for the sale of its asphalt plant at 800 Canal
Street, in Mount Vernon, New York.

On December 8, 2015, the Bankruptcy Court approved an auction of
the Canal Plant and various bidding procedures associated
therewith.  In late December 2015, PCI Industries Corp. made an
offer to acquire the Canal Plant and related assets for the total
price of $10.8 million, which offer was memorialized in a letter of
intent dated January 5, 2016,

PCI's offer would result in the full satisfaction of all secured
debt, including that of Peckham Industries, Inc., plus a
significant distribution to the holders of allowed general
unsecured claims. The Debtor filed the LOI with the Bankruptcy
Court on January 8, 2016.  

Following the submission of the LOI to the Court, Peckham responded
with a bid for the acquisition of the Canal Plant for a cash
payment of $11.0 million. Peckham's bid will also result in the
full satisfaction of all secured claims, including Peckham's, plus
a significant distribution to the holders of allowed general
unsecured claims. After the Debtor communicated Peckham's higher
offer to PCI, PCI increased its offer to $13.3 million.

The competing bids were brought before the Court at a hearing held
on January 25, 2016. At the hearing, the Bankruptcy Court
authorized the Debtor to proceed with PCI's LOI, to be effectuated
through a plan of reorganization, subject to higher and better
offers.  

J. Scott Victor, managing director at SSG, says the firm has
agreed, with the consent of the Debtor's secured creditors, to be
paid according to this structure:

     (A) Upon the consummation of a sale or sales of the Canal
         Plant, SSG shall be paid a flat fee in an amount equal
         to (i) $125,000, plus reasonable out-of-pocket expenses
         incurred.

     (B) In the event that the sale price for the Canal Plant
         exceeds $13.3 million, SSG shall receive an additional
         fee in the amount of:

         (x) 4.0% of the amount of the sale price in excess of
             $13.3 million if PCI or Peckham is the highest
             bidder; or

         (y) 8.0%) of the amount of the sale price in excess of
             $13.3 million in the event that anyone other than
             PCI or Peckham is the highest bidder.

         The payment of SSG's Flat Fee shall be shared equally
         between the Debtor and its secured creditors -- Peckham,
         C.L. Consulting & Management Corp., and New Flow, LLC
         -- with the secured creditors' 50% of the Flat Fee being
         prorated amongst the secured creditors.

         The Sale Fee, if any, will be paid entirely by the
         Debtor from the sale proceeds or the assets of the
         estate.

The Debtor also has agreed to indemnify SSG.

The firm may be reached at:

     J. Scott Victor
     Managing Director
     SSG Capital Advisors, LLC
     Five Tower Bridge, Suite 420
     300 Barr Harbor Drive
     Tel: (610) 940-5802
     E-mail: jsvictor@ssgca.com

                    About Canal Asphalt

Canal Asphalt Inc. filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 15-23094) on July 31, 2015.  The petition was
signed by August Nigro III as president.  The Debtor disclosed
total assets of $20.3 million and total liabilities of $23 million.
Goetz Fitzpatrick LLP serves as the Debtor's counsel.  CohnReznick
LLP serves as financial advisor.  SSG Capital Advisors, LLC serves
as its exclusive investment banker, with respect to the sale of its
asphalt plant at 800 Canal Street, in Mount Vernon, New York.  Hon.
Robert D. Drain presides over the case.


CENVEO INC: Moody's Lowers CFR to Caa2 & Changes Outlook to Neg.
----------------------------------------------------------------
Moody's Investors Service downgraded Cenveo Inc.'s corporate family
rating and probability of default ratings, respectively, to Caa2
from Caa1 and Caa2-PD from Caa1-PD, and changed the ratings outlook
to negative from stable.  Debt instrument ratings at Cenveo
Corporation, a wholly-owned subsidiary whose debts are guaranteed
by Cenveo were downgraded or affirmed as follows: senior secured
first lien notes, downgraded to Caa1 from B3; senior secured second
lien notes, downgraded to Caa3 from Caa2; senior unsecured notes,
affirmed at Caa3.  Cenveo's speculative grade liquidity rating was
lowered to SGL-4 from SGL-3, indicating poor liquidity.

The actions result from Moody's opinion that Cenveo's May 2017
maturities are not refinance-able at par and need to be
reconfigured ($190 million of Caa3-rated unsecured debt due and $49
million of exchangeable notes).  With Debt/EBITDA in the 8x range
(Moody's adjusted, forecast for 2016), and with it being unlikely
that material de-levering can occur over the next year, Moody's
believes that Cenveo's capital structure and liquidity arrangements
are unsustainable and need to be substantially revised.

This summarizes Moody's ratings and the rating actions for Cenveo:

Actions for Cenveo Inc.

  Corporate Family Rating, Downgraded to Caa2 from Caa1
  Probability of Default Rating, Downgraded to Caa2-PD from Caa1-
   PD
  Speculative Grade Liquidity Rating, Lowered to SGL-4 from SGL-3
  Outlook, Changed to Negative from Stable

Actions for Cenveo Corporation

  Senior Secured First Lien Notes, Downgraded to Caa1 (LGD3) from
   B3 (LGD3)
  Senior Secured Second Lien Notes, Downgraded to Caa3 (LGD4) from

   Caa2 (LGD4)
  Senior Unsecured Notes, Affirmed at Caa3 (LGD5)

                         RATINGS RATIONALE

Cenveo's Caa2 CFR reflects Moody's opinion that the company's debt
structure is not sustainable, a matter stemming from ongoing
revenue and EBITDA declines which, given the company's aggressive
debt load, are expected to cause leverage of Debt/EBITDA to be in
the around 8x during 2016/2017.  Cenveo is in the latter stages of
a protracted business restructuring that has seen operations
transitioned into envelope converting, significantly reducing
exposure to commercial printing.  However, while the operational
repositioning is credit positive, EBITDA has been declining,
something that Moody's expects will continue, and Cenveo has not
restructured its debts to align with its operational restructuring.
With aggressive leverage, and with debts in the junior-most of
four strata due in May 2017, Moody's believes that they are not
refinance-able at par.

This matter flows directly into Cenveo's speculative grade
liquidity rating, which is assessed at SGL-4 (poor) because of 2017
refinance risks.  While the maturities are slightly outside of
Moody's usual rolling forward four quarters perspective, the
importance of refinance matters caused Moody's to revise its
liquidity rating.  Absent refinance issues, Moody's expects Cenveo
to generate $30 million to $40 million of free cash flow, and the
company has a $240 million ABL facility with about $124 million of
unused capacity.  However, the ABL facility is also due in 2017
unless the senior unsecured notes have been previously refinanced,
a matter that would extend its maturity date to 2018.

Rating Outlook

The negative outlook anticipates the potential of additional
further adverse ratings activity that would result from Cenveo
re-sizing its debts.

What Could Change the Rating - Up

  Expectations of cash flow self-sustainability and an absence of
   refinance risks

  Together with
   --- Solid liquidity
   --- Clarity on business asset portfolio planning

What Could Change the Rating - Down

Expectations of an imminent default including a distressed debt
exchange or buy-back which Moody's may consider as a limited
default depending on the terms of the exchange or buyback.

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

Cenveo Inc. is a publicly-traded holding company, headquartered in
Stamford Connecticut.  Cenveo owns Cenveo Corporation (Corp), which
has about $1.7 billion of revenue from envelope converting (52%),
commercial printing (29%) and label/packaging (19%).

While all debt instruments are issued by Corp, Cenveo guarantees
all of Corp's debt and financial statements are issued only by
Cenveo.  Moody's maintains corporate-level ratings and the
associated outlook at Cenveo.


CHINA BAK: Xiangqian Li Resigns as Chairman, CEO & President
------------------------------------------------------------
Mr. Xiangqian Li resigned as chairman, director, chief executive
officer, president and secretary of China Bak Battery, Inc.,
effective March 1, 2016, according to a Form 8-K report filed with
the Securities and Exchange Commission.  According to the filing,
Mr. Li's resignation was due to personal reasons and not because of
any disagreement with the Company on any matter relating to the
Company's operations, policies or practices.

On the same date, the Board of Directors of the Company appointed
Mr. Yunfei Li as chairman, chief executive officer, president and
secretary of the Company.

Mr. Yunfei Li, 49, has more than 20 years management experience in
industries of real estate development, battery and new energy.
Since May 2014, he has been vice president of the Company's
subsidiary, Dalian BAK Power Battery Co., Ltd in charge of the
company's construction of manufacturing facilities, government
relationship and development of new customers.  From May 2010 to
May 2014, Mr. Yunfei Li held management positions of various new
energy development and real estate development companies in China.
Prior to that, he was director of Construction Department, Director
of Comprehensive Management Department and Assistant to President
of Shenzhen BAK Battery Co., Ltd., a former subsidiary of the
Company, from March 2003 to May 2010.  Mr. Yunfei Li holds a
Bachelor's degree in Civil Engineering from Liao Yuan Vocational
Technical College.

Mr. Yunfei Li is entitled to receive an annual salary of RMB
144,000 (approximately $22,086) from the Company.

                        About China BAK

China BAK Battery conducted business through BAK International
Limited and its subsidiaries that produced prismatic cells,
cylindrical cells, lithium polymer cells and high power lithium
batters.  The BAK International business was foreclosed on
June 30, 2014.  Consequently, China BAK is looking to develop,
manufacture and sell energy high power lithium batteries primarily
for electric vehicles when its Dalian, China manufacturing
facilities start to operate in the first quarter of 2015.

China BAK reported net profit of US$15.87 million for the year
ended Sept. 30, 2015, compared to net profit of US$37.77 million
for the year ended Sept. 30, 2014.

As of Dec. 31, 2015, the Company had US$64.28 million in total
assets, US$44.85 million in total liabilities and US$19.42 million
in total shareholders' equity.

Crowe Horwath (HK) CPA Limited, in Hong Kong, China, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Sept. 30, 2015, citing that the
Company has a working capital deficiency, accumulated deficit from
recurring net losses and significant short-term debt obligations
maturing in less than one year as of Sept. 30, 2015.  All these
factors raise substantial doubt about its ability to continue as a
going concern.


CIPHERLOC CORP: Reports $230,000 Net Income for Dec. 2015 Quarter
-----------------------------------------------------------------
Cipherloc Corporation, formerly National Scientific Corporation,
swung to a net income of $230,071 for the quarterly period ended
December 31, 2015, from a net loss of $263,133 for the same
three-month period in 2014.   Cipherloc reported revenues of
$433,594 during the December 2015 quarter and none during the same
period in 2014.

At Dec. 31, 2015, the Company had total assets of $1,391,655
against total liabilities of $1,098,408.

The Company noted that it has incurred losses from operations, has
an accumulated deficit at Dec. 31, 2015 of $42,908,755 and needs
additional cash to maintain its operations.  "These factors raise
substantial doubt about the Company’s ability to continue as a
going concern. . . . The Company's continued existence is dependent
upon management's ability to develop profitable operations,
continued contributions from the Company's executive officers to
finance its operations and the ability to obtain additional funding
sources to explore potential strategic relationships and to provide
capital and other resources for the further development and
marketing of the Company’s products and business," it said.

A copy of the Company's Form 10-Q report is available at
http://is.gd/W55pDI

Cipherloc Corporation, formerly National Scientific Corporation,
is
a technology and services based solutions company, headquartered
in
Henderson, Nevada.  The company has introduced a new type of
encryption technology with five international patents and two US
patents pending and is believed to be the industry's first
"Polymorphic Cipher Engine", called CipherLoc(R).

MaloneBailey, LLP, in a report addressed to the board of directors
and stockholders of Cipherloc Corporation on February 4, 2016,
expressed substantial doubt about the company's ability to continue
as a going concern.  MaloneBailey noted that the company has a
working capital deficit and has incurred recurring losses, which
raises substantial doubt about its ability to continue as a going
concern.


CLEAREDGE POWER: Court Confirms Debtors' 2nd Amended Plan
---------------------------------------------------------
Judge Charles Novack on March 3, 2016, entered an order confirming
the Second Amended Chapter 11 Plan proposed by CEP Reorganization,
Inc., formerly known as ClearEdge Power, Inc., et al., and their
Official Committee of Unsecured Creditors.

According to the balloting report, holders of general unsecured
claims in Classes 5(a), 5(b) and 5(c) voted to accept the Plan.
Only two objections to Confirmation of the Plan were filed: the
precautionary objection filed by Washington County, Oregon, and (2)
the limited objection filed by Verizon Sourcing LLC.  The
Washington County Objection and the Verizon Objection are withdrawn
or otherwise overruled, according to Judge Novack.

On the effective date, Peter S. Kravitz will be appointed as the
liquidating trustee and remaining assets will be vested in the
Liquidation Trust.  On the Effective Date, the Oversight Committee
shall be created and consist of the following three (3) members:
(a) Peter Wojciechowski, or other designee appointed by the
Plaintiff class in the adversary proceeding entitled Wojciechowski
et al. v. ClearEdge Power, Inc., Case No. 14-05043 (Bankr. N.D.
Cal.); (b) the Claims Recovery Group; and (c) Michelle
Hilderbrand.

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

    http://bankrupt.com/misc/CEP_R_1032_Plan_Conf_Ord.pdf

                           Terms of Plan

As previously reported in the TCR, the Debtors and the Committee's
proposed Chapter 11 Plan provides for:

     -- the reorganization of CEP Reorganization, Inc., formerly
        known as ClearEdge Power, Inc. ("CEP"),

     -- the liquidation of CEP Reorganization LLC ("CEP LLC"),
        and CEP Service Reorganization, LLC ("CEPIS"), and

     -- the formation of a liquidation trust pursuant to a
        Liquidation Trust Agreement to be executed by the Debtors
        and the liquidation trustee (and approved by the
        Committee) as of the Plan effective date.

The Liquidation Trust will be managed by a liquidation trustee as
well as by an oversight committee selected by the Committee and the
Debtors, and its primary purpose will be to administer and
liquidate the liquidation trust assets (including potential
avoidance actions and other affirmative causes of action, if any)
and resolve disputed claims.  The Liquidation Trust will be
responsible for making distributions to holders of allowed claims
and allowed interests, if applicable, as well as for managing all
administrative tasks necessary for ultimate resolution of these
Bankruptcy Cases pursuant to the terms of the Plan and the
Liquidation Trust Agreement.

On the Plan effective date, CEP will emerge as "Reorganized CEP"
and continue to exist as a separate corporation permitted to
conduct its business without supervision by the Bankruptcy Court.
By retaining and continuing the corporate structure of CEP, the
Plan augments the amount included in the assets to be liquidated
by
the Liquidation Trust and provides a mechanism for additional
amounts to be contributed during the bankruptcy cases.

Specifically, under the Plan, (a) holders of CEP stock may elect
to
be sponsors of the Plan who will pay the aggregate amount of, at
minimum, $200,000 to the Liquidation Trust on or before the date
on
which the Court enters its order confirming the Plan; and (b)
Reorganized CEP will, on an annual basis, calculate, report on,
and, if required, periodically pay contributions to the
Liquidation
Trust, equal to 20% of all amounts, if any, realized from tax
attributes retained by Reorganized CEP under the Plan and carried
forward or carried backward.

The Plan provides that:

   -- Holders of secured claims will have a 100% recovery in
      the form of (i) 100% of net proceeds from the sale of the
      collateral, or (ii) the return of the collateral.

   -- Holders of unsecured claims each in the amount of not more
      than $3,000, which are classified as administrative
      convenience claims, will recover 100% on the Effective
      Date.

   -- Holders of general unsecured claims will have a 3% to 6.6%
      recovery.  They will receive a pro rata share of
      Liquidation Trust interests.  If Reorganized CEP
      Contributions are realized, Liquidation Trust Assets will
      be increased, and distributions to general unsecured
      creditors could increase up to the approximate range of
      between 19% and 22%

   -- Holders of allowed interests in CEP who elect to be Plan
      Sponsors will have left unaltered the legal, equitable
      and contractual rights to which each such holder is
      entitled on account of such interest.  All stock Interests
      of Plan Non-Sponsors will be cancelled as of the Effective
      Date.

   -- In the unlikely event that a surplus of available cash
      remains after creditors are paid in full, holders of CEP
      interests will receive one or more distributions of
      available cash.

A copy of the Second Amended Disclosure Statement filed Jan. 8,
2016, is available for free at:

     http://bankrupt.com/misc/ClearEdge_951_2nd_Am_DS.pdf

Attorneys for the Debtors:

         Stephen T. O'Neill, Esq.
         Robert A. Franklin, Esq.
         Thomas T. Hwang, Esq.
         DORSEY & WHITNEY LLP
         305 Lytton Avenue
         Palo Alto, CA 94301
         Telephone: (650) 857-1717
         Facsimile: (650) 857-1288
         E-mail: oneill.stephen@dorsey.com
                 franklin.robert@dorsey.com
                 hwang.thomas@dorsey.com

Attorneys for the Official Committee of Unsecured Creditors:

         Cathrine M. Castaldi, Esq.
         Howard L. Siegel, Esq.
         R. Benjamin Chapman, Esq.
         BROWN RUDNICK LLP
         2211 Michelson Drive, Seventh Floor
         Irvine, CA 92612
         Telephone: (949) 752-7100
         Facsimile: (949) 252-1514
         E-mail: ccastaldi@brownrudnick.com
                 hsiegel@brownrudnick.com
                 bchapman@brownrudnick.com

                      About ClearEdge Power

Sunnyvale, California-based ClearEdge Power Inc. and two other
affiliates filed for Chapter 11 bankruptcy protection (Bankr. N.D.
Cal. Lead Case No. 14-51955) on May 1, 2014, in San Jose.
Affiliates ClearEdge Power, LLC, and ClearEdge Power International
Service, LLC, are based in South Windsor, Connecticut, where the
manufacturing operations are located.

Privately held ClearEdge designs, manufactures, sells and services
distributed generation fuel cell systems for commercial,
industrial, utility and residential applications.  ClearEdge bought
United Technologies Corp.'s UTC Power division in late 2012.
ClearEdge sought bankruptcy protection just a week after shutting
operations.

The petitions were signed by David B. Wright, chief executive
officer.

ClearEdge Power disclosed $31.3 million in assets and $67.4 million
in liabilities as of the Chapter 11 filing.

The Debtors have employed these professionals to assist in their
reorganization efforts: (i) Dorsey & Whitney LLP, as general
bankruptcy counsel; (ii) Davis Polk & Wardwell LLP, as special
corporate counsel; (iii) McNutt Law Group LLP, as special
conflicts
counsel; (iv) Leonard Law Group LLP as special counsel to manage
all matters related to a certain receivership proceeding in the
Circuit Court for the State of Oregon, County of Clackamas; (v)
Kieckhafer, Schiffer & Company LLP, as 401(k) auditors; (vi) BDO
USA, LLP as accountants; (vii) KPMG, LLP as tax professionals, and
(viii) TGI Financial, Inc. dba Gerbsman Partners as financial
advisor.  In addition, the Court appointed Insolvency Services
Group, Inc., serves as noticing and claims agent.

On May 22, 2014, the U.S. Trustee for Region 17 appointed five
creditors to serve in the Committee.  The Committee retained Brown
Rudnick as Counsel and Teneo Securities as financial advisors.

                           *     *     *

The U.S. Bankruptcy Court in San Jose, California, on July 18,
2014, approved the sale of substantially all of the assets of the
Debtors to Doosan Corporation, a unit of Doosan Co. Ltd., of South
Korea.  The consideration included cash, the assumption of certain
liabilities and the assumption of certain executory contracts and
unexpired leases, and resulted in an estimated $32,397,000 to the
Estates, $20,000,000 of which were reserved for the payment of cure
costs associated with assumption but which will be released to the
Estates to the extent of any reserved funds remaining following the
payment of all cure costs.

The Debtors changed their names to CEP Reorganization, Inc., et
al., following the sale to Dooasan.

The Debtors estimate that the total value of their remaining assets
as of Sept. 30, 2015, approximates $13,585,000, including
unrestricted cash equivalents of $9,821,000 and restricted cash
equivalents comprised of amounts held in trust for payments to be
made in connection with the sale of $2,834,000.  The Debtors
estimate that, in addition to administrative claims, their
liabilities through Sept. 30, 2015, approximate $82,000,000,
comprised of $5,420,000 asserted as Secured Claims, $4,605,000
asserted as Priority Claims, $1,070,000 asserted as Tax Claims,
$70,935,000 asserted as General Unsecured Claims.


CONGREGATION BIRCHOS: Sale Free of Yeshiva's Interests, Bank Says
-----------------------------------------------------------------
TD Bank, N.A., which is proposing a sale-based Chapter 11 plan for
debtor Congregation Birchos Yosef, responded to Yeshiva Ohr Torah's
objection to the proposed sale and Chapter 11 plan.  Yeshiva, a
tenant at the Debtor's property located at 201 Route 306, Monsey,
New York, claims that a Court order approving the sale cannot
extinguish the Yeshiva's leasehold interests in the Property.  TD
Bank noted that in December 2014, it had obtained from the Supreme
Court of the State of New York, Rockland County, a Judgment of
Foreclosure and Sale, which adjudicated that TD Bank's interests in
the Property were and are superior to the Yeshiva's interests.  TD
Bank thus asserts that the Property can be sold free and clear of
the Yeshiva's tenancy interests.  While the objection seeks to have
TD Bank amend the Plan to preserve the Yeshiva's interests in the
Property as provided in the Dec. 1, 2015 arbitration decision by a
Rabbinical Court, TD Bank said it will amend the Plan so to allow
the Property to be sold under state law, as provided under the
Foreclosure Judgment (entered December 2014).

                          The Chapter 11 Plan

As reported in the Jan. 14, 2016 edition of the TCR, the hearing on
the confirmation of the Chapter 11 plan proposed by TD Bank N.A.
for Congregation Birchos Yosef is scheduled for March 16, 2016.  
The deadline for filing objections to the plan is March 9.

The proposed plan calls for the swift sale of Congregation Birchos'
real property.  Proceeds from the sale will be used to pay
creditors in full.

Under the plan, TD Bank's $9.2 million secured claim will be paid
from the sale proceeds.  In case the net proceeds are less than the
amount of the secured claim, the deficiency portion will be treated
as an unsecured claim.  General unsecured claims estimated at $1
million will be paid in full from the available cash or the
litigation proceeds.  Meanwhile, mechanic's lien claims), if
allowed, will be paid from the net proceeds from the sale of the
201 Route 306 property, according to court filings.

                 About Congregation Birchos Yosef

Congregation Birchos Yosef is a religious corporation which was
formed on Jan. 16, 1985 for the purposes of creating and
maintaining a "House of Worship" in accordance with the traditions
of the Hebrew faith and to serve and advance the affairs of the
surrounding community under the leadership of the Grand Rebbe of
Nikolsburg.  Its principal office is located at 201 Route 306,
Monsey, New York.  It has real properties located in Spring Valley
and Monsey, New York.

Congregation Birchos Yosef sought bankruptcy protection (Bankr.
S.D.N.Y. Case No. 15-22254) in White Plains, New York, on Feb. 26,
2015.  Breindy Lebovits, the vice-president, signed the petition.

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

On May 4, 2015, the Debtor won approval to hire (i) Pick & Zabicki
LLP as its counsel, (ii) Frances M. Caruso as its bookkeeper and
(iii) Montalbano, Condon & Frank, P.C. as special counsel for real
property tax-related matters.  On May 18, the Court authorized the
Debtor's retention of Levine & Associates, PC as special
litigation
counsel.  On Sept. 11, 2015, the Court approved the retention of
The Law Offices of David Carlebach, Esq. as the Debtor's
substituted bankruptcy counsel.  On Nov. 11, 2015, the Debtor
filed
a stipulation of substitution of counsel, reflecting that The Law
Offices of Allen A. Kolber, Esq. will serve as the Debtor's
substituted bankruptcy counsel

                           *     *     *

The Debtor's "exclusivity period" under Section 1121 of the
Bankruptcy Code expired June 26, 2015.

On Aug. 24, 2015, the Court entered a memorandum of decision in
support of its order granting the Debtor's motion to enforce the
automatic stay against Bais Chinuch L'Bonois, Inc. and certain
individuals.  This order is being appealed.


CTI BIOPHARMA: Dr. Mary Mundinger Won't Seek Re-Election
--------------------------------------------------------
Mary O. Mundinger, DrPH, notified the Board of Directors of CTI
BioPharma Corp. that she will not seek re-election as a director at
the Company's 2016 Annual Meeting of Shareholders, as disclosed in
a Form 8-K report filed with the Securities and Exchange
Commission.

Dr. Mundinger will continue to serve as a director until the Annual
Meeting.  The decision of Dr. Mundinger not to seek re-election at
the Annual Meeting was not the result of any disagreement with the
Company on any matter relating to the Company's operations,
policies or practices, the Company said in the filing.

                     About CTI BioPharma

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

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

As of Dec. 31, 2015, the Company had $144.33 million in total
assets, $96.91 million in total liabilities and $47.41 million in
total shareholders' equity.

The Company's independent registered public accounting firm
included an explanatory paragraph in its reports on its
consolidated financial statements for each of the years ended
Dec. 31, 2007, through Dec. 31, 2011, and for the year ended
Dec. 31, 2014, regarding their substantial doubt as to the
Company's ability to continue as a going concern.  The Company said
that although its independent registered public accounting firm
removed this going concern explanatory paragraph in its report on
our Dec. 31, 2015, consolidated financial statements, the Company
expects to continue to need to raise additional financing to fund
its operations and satisfy obligations as they become due.
According to the Company, the inclusion of a going concern
explanatory paragraph in future years may negatively impact the
trading price of its common stock and make it more difficult, time
consuming or expensive to obtain necessary financing, and the
Company cannot guarantee that it will not receive such an
explanatory paragraph in the future.


DETROIT PUBLIC SCHOOLS: Taps Judge Rhodes as Transition Manager
---------------------------------------------------------------
Reuters reported that the federal judge who oversaw Detroit's
historic bankruptcy case will now tackle the financial problems of
the city's financially struggling public schools, Michigan Governor
Rick Snyder announced on Feb. 29, 2016.  Steven Rhodes, who retired
from the U.S. District Court last year, will become transition
manager of Detroit Public Schools (DPS) while state lawmakers work
on bills to improve the district's academics and finances, the
Republican governor said in a statement.

According to Reuters, Detroit exited the biggest-ever municipal
bankruptcy in December 2014 after Judge Rhodes approved a plan
allowing the city to shed about $7 billion of its $18 billion of
debt and obligations.

The school system, which has 97 schools and about 47,000 students,
is drowning under $3.5 billion of debt, including $1.7 billion of
bonds backed by property taxes, and is suffering from declining
enrollment.  Despite being under state oversight since 2009, the
school district has a $515 million operating deficit and is on
track to run out of money this spring.

Gov. Snyder this month announced the departure of the school
system's state-appointed emergency manager, Darnell Earley, who
previously was the emergency manager of Flint, which is currently
dealing with a lead-tainted water crisis.

Bills pending in Michigan's legislature would create two entities
-- the Detroit Community District to run the schools and the
current DPS to retire debt. S nyder is seeking $72 million annually
over 10 years to fund the plan, using money from Michigan's share
of a nationwide settlement with U.S. tobacco companies.  He has
also asked lawmakers for an immediate
$50 million to enable DPS to continue to pay employees and
vendors.

Unlike the city of Detroit's bankruptcy, the state would be on the
hook in the event of a bankruptcy filing to cover $1.45 billion
over 11 years to pay off bonds issued for DPS through Michigan's
school bond loan fund.


DF SERVICING: AFS CPA Group Approved as Auditor
-----------------------------------------------
The Bankruptcy Court in Puerto Rico has authorized DF Servicing,
LLC, to employ AFS CPA Group, LLC, as auditor.

The Debtor is in need of an external auditor to assist it in the
preparation of its external audit and related statements of income
and retained earnings, cash flows, preparation of corporate income
tax returns, volume of business tax return, personal property tax
return and annual corporation report.  In selecting AFS CPA Group,
LLC, the Debtor has made careful and diligent inquiry into its
qualifications and connections and has found AFS and its members to
be duly qualified to assist the Debtor by reason of their ability,
integrity and professional experience.

The duties of AFS will include the preparation of the Debtor's
annual tax returns in order to meet governmental deadlines and
avoid interest and penalties, and providing auditing services for
the year ended on December 31, 2015, including the completion of
planning and evaluation, field work procedures, preparation of
reports and performance of tests and reviews of the Debtor's
accounting procedures to assure that the Debtor is operating in an
efficient manner.

AFS's fee is estimated to be:

     $1,900.00 for the preparation of corporate income tax
               return, volume of business tax return, personal
               property tax return and annual corporation report;

     $7,500.00 for the external audit (Parent Only) and $1,800.00
               (Consolidated), plus out of pocket expenses which
               customarily range from 5% to 10% of the total
               fees;

Supplementary schedules will be billed separately and the estimated
fee will range between $750 and $2,000.

AFS's personnel hourly rates are $125.00 for certified public
accountants and partners, and $75.00 for assistants and staff.  

AFS attests that its members do not represent or hold any interest
adverse to the Debtor or its estate, and that the firm and its
members are disinterested persons as defined in 11 U.S.C. Sec.
101(14).

                        About DF Servicing

Engaged in the business of purchase and sale of construction
projects, DF Servicing, LLC, DF Tier I, LLC, DF Investments, LLC,
and DF Holdings LLC filed Chapter 11 bankruptcy petitions (Bankr.
D.P.R. Case Nos. 15-10253 to 15-10256) on Dec. 24, 2015.  The
petitions were signed by Mark Mashburn, the president.  Charles A
Cuprill, PSC Law Office, serves as counsel to the Debtors.  AFS CPA
Group, LLC, serves as auditor.


DF SERVICING: Hires Salichs Pou as Special Counsel
--------------------------------------------------
DF Servicing, LLC, may employ Salichs Pou & Associates, PSC, as
special counsel, according to the bankruptcy court in Puerto Rico.

DF Servicing engaged the firm prior to the bankruptcy filing date
as its counsel in the cases:

     (a) DF Servicing, LLC v. Terrazas De Borinquen, Inc.,
         Civil Case No. E CD2011-1071(402), wherein judgment
         was entered, non-litigation real estate matters
         remaining to be disposed of; and

     (b) DF Servicing, LLC v. Hillview Condominium Corp.;
         Builders Group & Development, Corp.; El Cordoves Limited
         Partnership - Sociedad Especial; Jorge Alberto Rios
         Pulpeiro, Civil Case No. F CD2010-1378, wherein
         litigation is pending -- currently in discovery phase.

The Debtor wants the firm to continue representing it in those
cases.

The firm charges $180 per hour for members and senior counsels,
$135.00 per hour for associates; and $85 per hour for paralegals,
plus costs and expenses.

The firm may be reached at:

     Juan C. Salichs, Esq.
     SALICHS POU & ASSOCIATES, PSC
     Popular Center
     208 Ponce de Leon Avenue, 14th Floor, Suite 1434
     San Juan, PR 00918
     Tel: (787) 449-6000
     Fax: (787) 474-3892

Mr. Salichs attests that his firm, its partners and associates, do
not represent or hold any interest adverse to the Debtor or to its
estate in respect to the matters on which the firm is to be
employed; and that the firm and its members are disinterested
persons as defined in 11 U.S.C. Sec. 101(14), and within the
meaning of 11 U.S.C. Sec. 327(a).

The Debtor owes the firm $792 representing fees and expenses
incurred in litigation of certain Puerto Rico State Court cases,
but the firm waives the rights to collect those fees in order to
qualify as disinterested persons.

                        About DF Servicing

Engaged in the business of purchase and sale of construction
projects, DF Servicing, LLC, DF Tier I, LLC, DF Investments, LLC,
and DF Holdings LLC filed Chapter 11 bankruptcy petitions (Bankr.
D.P.R. Case Nos. 15-10253 to 15-10256) on Dec. 24, 2015.  The
petitions were signed by Mark Mashburn, the president.  Charles A
Cuprill, PSC Law Office, serves as counsel to the Debtors.  AFS CPA
Group, LLC, serves as auditor.


EAST ORANGE GENERAL: Expands PwC Role to Include Valuation
----------------------------------------------------------
East Orange General Hospital, Inc., and its debtor-affiliates
sought and obtained approval from the New Jersey Bankruptcy Court
to expand the role of PricewaterhouseCoopers LLP, their financial
advisors, to provide services for valuation of real estate and
other assets.

PwC's Perry Mandarino -- perry.mandarino@us.pwc.com -- attests
that:

     (i) PwC has no connection with the Debtors, their creditors,
or any other party in interest, respective attorneys or
professionals, the United States Trustee or any person employed in
the Office of the United States Trustee, and does not have any
adverse interest to the Debtors in connection with the  Debtors'
Chapter 11 Case;

    (ii) PwC is a "disinterested person" as that phrase is defined
in Sec. 101(14) of the Bankruptcy Code;

   (iii) neither PwC nor its professionals have any  connection
with the Debtors, their creditors or any other party in interest;
and

    (iv) expansion of PwC's employment to include valuation
services is necessary and in the best interest of the Debtors.

The Hon. Vincent F. Papalia previously authorized East Orange
General Hospital, Inc., et al., to employ PwC as financial advisor
effective as of the Petition Date.  PwC's tasks include:

   -- assist, advice and analyze cash flow forecasting, budgets,
cash management, feasibility studies, vendor payable management,
preparation of form the Court, preparation of presentations and
responding to discovery requests;

   -- advice and assist regarding the Debtors' identification and
implementation of both short-term and long-term liquidity
generating initiatives;

   -- advice and assist with the Debtors' development of cash flow
projections and business restructuring plans;

   -- advice and perform analysis relating to any proposed asset
sales and other proposed transactions in which the Debtors seek
Court approval;

   -- advise the Debtors in connection with their negotiations with
lenders regarding debtor-in-possession and exit financing
facilities and key vendors regarding postpetition critical vendor
payments and assistance in preparation thereof;

   -- perform financial analysis of facts relating to prepetition
asset transfers and transfers and transactions;

   -- testify as a "fact or percipient witness" in the Debtors'
bankruptcy court proceedings based on PwC's direct knowledge of the
estates arising from or relating to the services performed; and

   -- if requested by the Debtors, provide advice and assistance to
the debtors in connection with the Debtors' accumulation of data
and preparation of various schedules, account, analyses, and
reconciliations.
Perry Mandarino, a partner at PwC, told the Court that, prior to
the Petition, the Debtors paid PwC three separate retainer
payments, each totaling $25,0000, for a total aggregate sum of
$75,000 for financial advisory services in contemplation of and in
connection with the cases.

PwC's standard hourly rates:

         Personnel                    Hourly Billing Rate
         ---------                    -------------------
         Partner                             $860
         Director                            $651
         Manager                             $506
         Senior Associate                    $420
         Associate                           $360
         Secretarial                          110

The Debtors will reimburse PwC for the reasonable out-of pocket
expenses

The Debtor is represented by:

         Kenneth A. Rosen, Esq.
         Gerald C. Bender, Esq.
         Michael Savetsky, Esq.
         Anthony D. Leo, Esq.
         LOWENSTEIN SANDLER LLP
         65 Livingston Avenue
         Roseland, NJ 07068
         Tel: (973) 597-2500
         Fax: (973) 597-2400

                     About East Orange General

Located in East Orange, New Jersey, East Orange General Hospital is
a 211-bed hospital that claims to be the only independent, fully
accredited, acute-care hospital in Essex County and is a recognized
leader in behavioral health services, renal dialysis, wound care,
diagnostic services, emergency services, and family health care.

East Orange General Hospital, Inc. and parent Essex Valley
Healthcare, Inc. filed Chapter 11 bankruptcy petitions (Bankr. D.
N.J. Case Nos. 15-31232 and 15-31233, respectively) on Nov. 10,
2015.  Martin A. Bieber, the interim president and chief executive
officer, signed the petitions.  The Debtors estimated both assets
and liabilities in the range of $100 million to $500 million.

The Debtors have engaged Lowenstein Sandler LLP as counsel,
PricewaterhouseCoopers LLP as financial advisor, McCarter &
English, LLP as special transactional counsel, and Prime Clerk LLC
as claims, noticing and balloting agent.

Judge Vincent F. Papalia has been assigned the case.

The Debtors employ approximately 860 individuals.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  The committee is
represented by Arent Fox LLP and Trenk, DiPasquale, Della Fera &
Sodono, P.C.

Laura L. Katz was appointed the Patient Care Ombudsman on Nov. 23,
2015.  Ms. Katz is a member of the law firm of Saul Ewing, LLP,
which also serves as her counsel in the Ch. 11 case.


EXTREME PLASTICS: PACCAR Seeks Adequate Protection
--------------------------------------------------
PACCAR Financial Corp., a first lien holder registered owner of an
equipment sold to Extreme Plastics Plus, Inc., in exchange for
monthly payments of $2,842 for 60 months, says Sec. 363(c)(2) of
the Bankruptcy Code allows a debtor to use cash collateral so long
as the debtor provides its secured creditors with adequate
protection.  The Debtors have not included PFC in the budget and
PFC requests that it be included in the budget at this time.  PFC
does not consent to the granting of a superpriority or other lien
in favor of any other party with respect to its equipment.  PFC
says it did not receive a notice of the Debtors' bankruptcy filing,
so it did not known the deadlines to object to the Debtors' cash
collateral motion.  

Judge Christopher Sontchi will convene a final hearing on March 11,
2016, on the Debtors' motion to use cash collateral.

Judge Sontchi has issued interim orders authorizing Extreme
Plastics Plus, Inc., et al., to use cash collateral securing their
indebtedness from Citizens Bank of Pennsylvania as agent for a
consortium of lenders.

                      About Extreme Plastics

Founded in 2007, privately-held Extreme Plastics Plus, Inc.,
operates an environmental containment business specializing in
providing environmental lining, above ground storage tanks,
composite rig mats, secondary steel wall containment systems, and
closed loop solids control services, primarily for the oil and gas
industry.  Extreme Plastics has six facilities in Fairmont, West
Virginia, Tunkhannock, Pennsylvania, St. Clairsville, Ohio, Moore,
Texas, Odessa, Texas, and Oklahoma City, Oklahoma.

The stock of Extreme Plastics is held entirely by EPP Intermediate
Holdings, Inc.  The stock of EPP Intermediate is held entirely by
EPP Holding Company, LLC, a non-debtor.

Extreme Plastics, and affiliate EPP Intermediate Holdings, Inc.,
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
16-10221) on Jan. 31, 2016, as the ongoing decline in the price of
oil and natural gas negatively impacted demand of the Debtors'
services.

Extreme Plastics estimated $10 million to $50 million in assets
and $50 million to $100 million in debt.  EPP Intermediate
estimated $1 million to $10 million in assets and $50 million to
$100 million in debt.

As of the Petition Date, Extreme Plastics owes $49.5 million under
a secured facility provided by lenders led by Citizens Bank of
Pennsylvania, as agent.   The facility is secured by a lien in
substantially all of the Debtors' assets, as well as a pledge of
100% of the equity in Extreme Plastics and EPP Intermediate.

The Debtors tapped Sullivan Hazeltine Allinson LLC as attorneys
and Epiq Bankruptcy Solutions, LLC, as claims and noticing agent.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors.  The Committee selected Reed
Smith LLP as counsel.


EXTREME PLASTICS: Taps Epiq as Administrative Advisor
-----------------------------------------------------
Extreme Plastics Plus, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Delaware for permission to employ Epiq
Bankruptcy Solutions, LLC, as administrative advisor nunc pro tunc
to the Petition Date.

As administrative advisor, Epiq will:

   1. assist with, among other things, Solicitation, balloting,
tabulation, and calculation of votes, well as preparing any
appropriate reports, as required in furtherance of confirmation of
any Chapter 11 plan;

   2. generate an official ballot certification and testifying, if
necessary, in support of the ballot tabulations for any chapter 11
plan in the case;

   3. provide a confidential data room;

   4. provide assistance with the preparation of the Debtors'
schedules of assets and liabilities and statements of financial
affairs;

   5. generate, provide and assist with claims objections,
exhibits, claims reconciliation and related matters;

   6. manage any distributions pursuant to the confirmed chapter 11
plan in the case; and

   7. provide such other claims processing, noticing, solicitation,
balloting and administrative services described in the services
agreement but not included in the Section 156(c) application, as
may be requested by the Debtors from time to time.

On Feb. 4, 2016, the Debtors provided Epiq a retainer of $25,000.
Epiq seeks to hold the retainer and use it per terms of the
services agreement during the Chapter 11 cases.

To the best of the Debtors' knowledge, Epiq is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                      About Extreme Plastics

Founded in 2007, privately-held Extreme Plastics Plus, Inc.,
operates an environmental containment business specializing in
providing environmental lining, above ground storage tanks,
composite rig mats, secondary steel wall containment systems, and
closed loop solids control services, primarily for the oil and gas
industry.  Extreme Plastics has six facilities in Fairmont, West
Virginia, Tunkhannock, Pennsylvania, St. Clairsville, Ohio, Moore,
Texas, Odessa, Texas, and Oklahoma City, Oklahoma.

The stock of Extreme Plastics is held entirely by EPP Intermediate
Holdings, Inc.  The stock of EPP Intermediate is held entirely by
EPP Holding Company, LLC, a non-debtor.

Extreme Plastics, and affiliate EPP Intermediate Holdings, Inc.,
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
16-10221) on Jan. 31, 2016, as the ongoing decline in the price of
oil and natural gas negatively impacted demand of the Debtors'
services.

Extreme Plastics estimated $10 million to $50 million in assets
and $50 million to $100 million in debt.  EPP Intermediate
estimated $1 million to $10 million in assets and $50 million to
$100 million in debt.

As of the Petition Date, Extreme Plastics owes $49.5 million under
a secured facility provided by lenders led by Citizens Bank of
Pennsylvania, as agent.   The facility is secured by a lien in
substantially all of the Debtors' assets, as well as a pledge of
100% of the equity in Extreme Plastics and EPP Intermediate.

The Debtors tapped Sullivan Hazeltine Allinson LLC as attorneys
and Epiq Bankruptcy Solutions, LLC, as claims and noticing agent.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors.


EXTREME PLASTICS: Taps Epiq as Claims, Noticing Agent
-----------------------------------------------------
Extreme Plastics Plus, Inc., et al., ask the U.S. Bankruptcy Court
for the District of Delaware for permission to employ Epiq
Bankruptcy Solutions, LLC, as claims and noticing agent nunc pro
tunc to the Petition Date.

As claims and noticing agent, Epiq will perform these tasks in its
role as claims agent, well as quality control relating thereto:

    1. prepare and serve required notices and documents in the
Chapter 11 cases in accordance with the Bankruptcy Code and the
Bankruptcy Rules in the form and manner directed by the Debtor and
the Court;

    2. maintain an official copy of the Debtors' schedules of
assets and liabilities and statement of financial affairs, listing
the Debtors known creditors and the amount owned thereto;

    3. maintain (i) a list of all potential creditors, equity
holders and other parties-in-interest, and 9ii) a core mailing list
consisting of all parties described in Bankruptcy Rule 2002(i),(j)
and (k), and those parties that have filed a notice of appearance
pursuant to Bankruptcy Rule 9010, and update and make said list
available upon request by a party-in-interest or the clerk;

    4. furnish a notice to all potential creditors of the last date
for filing proofs of claim and a form for filing a proof of claim,
after the notice and form are approved by the Court and notify said
potential creditors of the existence, amount and classification of
their respective claims as set forth in the schedules;

    5. maintain a post office box or address for the purpose of
receiving claims and returned mail, and process all mail received;

    6. for all notices, motions, order or other pleadings or
documents served, prepare and file or cause to be filed with the
clerk an affidavit or certificate of service within seven business
days of service;

    7. process all proofs of claims register for the Debtors on
behalf of the clerk;

    8. maintain the official claims register for the Debtors;

    9. implement necessary security measures to ensure the
completeness and integrity of the claim register and safekeeping of
the original claims;

   10. record all transfers of claims and provide any notices of
the transfers as required by Bankruptcy Rule 3001(e);

   11. relocate, by messenger or overnight delivery, all of the
court-filed proofs of claim to the offices of Epiq, not less than
weekly;

   12. upon completion of the docketing process for all claim
received to date for each case, turn over to the clerk copies of
the claims register for the Clerk's review (upon the Clerk's
request);

   13. monitor the Court's docket for all notices of appearance,
address changes, and claims-related pleading and orders filed and
make necessary notations on or changes to the claims register and
any service or mailing lists;

   14. assist in the dissemination of information to the public and
respond to request for administrative information regarding the
Chapter 11 cases;

   15. if the Chapter 11 cases are converted to cases under Chapter
7 of the Bankruptcy Code, contact the Clerk withing three days of
notice;

   16. 30 days prior to the close of the cases, request that the
Debtors submit to the Court a proposed order dismissing Epiq as
claims agent and terminating its services;

   17. within seven days of notice to Epiq of entry of an order
closing the Chapter 11 cases, provide the Court the final version
of the claims register as of the date immediately before the close
of the Chapter 11 cases; and

   18. at the close of the cases, box and transport all original
documents to (i) the Federal Archives; or (ii) any other located
requested by the Clerk.

Epiq received a retainer of $25,000.  Epiq seek to apply the
retainer to all prepetition invoices and to retain any unapplied
portion as retainer through the pendency of the cases.

To the best of the Debtors' knowledge, Epiq is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code.

                      About Extreme Plastics

Founded in 2007, privately-held Extreme Plastics Plus, Inc.,
operates an environmental containment business specializing in
providing environmental lining, above ground storage tanks,
composite rig mats, secondary steel wall containment systems, and
closed loop solids control services, primarily for the oil and gas
industry.  Extreme Plastics has six facilities in Fairmont, West
Virginia, Tunkhannock, Pennsylvania, St. Clairsville, Ohio, Moore,
Texas, Odessa, Texas, and Oklahoma City, Oklahoma.

The stock of Extreme Plastics is held entirely by EPP Intermediate
Holdings, Inc.  The stock of EPP Intermediate is held entirely by
EPP Holding Company, LLC, a non-debtor.

Extreme Plastics, and affiliate EPP Intermediate Holdings, Inc.,
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
16-10221) on Jan. 31, 2016, as the ongoing decline in the price of
oil and natural gas negatively impacted demand of the Debtors'
services.

Extreme Plastics estimated $10 million to $50 million in assets
and $50 million to $100 million in debt.  EPP Intermediate
estimated $1 million to $10 million in assets and $50 million to
$100 million in debt.

As of the Petition Date, Extreme Plastics owes $49.5 million under
a secured facility provided by lenders led by Citizens Bank of
Pennsylvania, as agent.   The facility is secured by a lien in
substantially all of the Debtors' assets, as well as a pledge of
100% of the equity in Extreme Plastics and EPP Intermediate.

The Debtors tapped Sullivan Hazeltine Allinson LLC as attorneys
and Epiq Bankruptcy Solutions, LLC, as claims and noticing agent.

The U.S. Trustee has appointed five members to the Official
Committee of Unsecured Creditors.


FC WINDENERGY: German Case Recognized as "Foreign Main Proceeding"
------------------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware on Feb. 4, 2016, issued an order recognizing FC
Windenergy GMBH's proceeding pending in the Local Court -
Insolvency Court - of Esslingen, Germany, Case No. 5 IN 398/13, as
a "foreign main proceeding" pursuant to Section 1517 of the
Bankruptcy Code.

All persons and entities are stayed and enjoined from, among other
things, commencing or continuing any legal proceeding or action
against the Debtor, its assets located in the United States, or the
proceeds of its assets.  Subject to the right of any party to file
a notice of removal to an appropriate federal district court, the
stay applies to the case styled Natenco, LLC v. FC Windenergy GmbH,
et al., Case No. 2015-CP-40-03481, pending in the Court of Common
Pleas for Richland County, South Carolina.

The Debtor was formerly a member of Natenco, which was formerly
engaged in the development and construction of wind energy farms in
the United States and Canada.  The extent and nature of the
Debtor's interest in Natenco is an issue pending in the South
Carolina Litigation, which issues relate to the Debtor's assets
within the territorial jurisdiction of the United States.  Natenco
filed a response to the Debtor's request for recognition, stating
that it does not oppose the Debtor's recognition petition but
objects to any attempt by the Debtor to obtain relief with respect
to Natenco that is not available to the Debtor under the Delaware
Limited Liability Company as an insolvent former member of
Natenco.

Natenco is represented by:

          Jeffrey C. Wisler, Esq.
          CONNOLLY GALLAGHER LLP
          1000 N. West Street, Suite 1400
          Wilmington, DE 19801
          Tel: (302) 757-7300
          Fax: (302) 658-0380
          Email: jwisler@connollygallagher.com

             -- and --

          Stanley H. McGuffin, Esq.
          Hamilton Osborne, Jr., Esq.
          HAYNSWORTH SINKLER BOYD, P.A.
          1201 Main Street, 22nd Floor
          Columbia, SC 29201
          Tel: (803) 779-3080
          Email: smcguffin@hsblawfirm.com
                 hosborne@hsblawfirm.com

Holger Blumle, in his capacity as the duly appointed German
Insolvency Administrator, filed a Chapter 11 petition for FC
Windenergy GmbH (Bankr. D. Del., Case No. 16-10056) on January 11,
2016.  The Debtor develops, constructs (as general contractor),
operates, buys and sells wind energy plants, and manages and
represents other companies.  The case is assigned to Judge Mary F.
Walrath.

The Chapter 15 Petitioner is represented by Adam Hiller, Esq., at
Hiller & Arban, LLC, in Wilmington, Delaware.


FELD LIMITED: Taps Jon Anderson to Handle Tenant/Landlord Suits
---------------------------------------------------------------
Feld Limited Partnership filed a supplemental application seeking
permission from the U.S. Bankruptcy Court for the Eastern District
of Wisconsin to employ Jon Anderson as attorney to represent the
Debtor in landlord/tenant eviction and collection actions related
to past due rent owed it.

The Debtor relates that at this time, there is a current tenant in
substantial arrears, which will require immediate civil action to
resolve.  The Debtor foresees that there will be at least one more
similar instance of this type moving forward, for which applicant's
services will be required.

The hourly rate for Mr. Anderson will be $200 per hour.  All
professionals employed by the Debtor understand and agree to keep
detailed records of all time spent on the matters.

Attorney Anderson will not rely on any associates or paralegals.

The total fees for Attorney Anderson's services will not exceed
$7,500 without further order of the Court.  It is anticipated that
applicant will move the Court for approval of fees related to each
civil action as it concludes. If he expects that his total accrued
fees may surpass $7,500, he will move the Court to raise the $7,500
fee cap.

To the best of the Debtor's knowledge, Attorney Anderson is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

In its original motion dated Feb. 17, 2016, Mr. Anderson, owner of
the Law Office of Jon D. Anderson, LLC with business office located
at 414 E. Walnut St. No. 201, Green Bay, WI 54301, Tel No. (920)
431-0790, told the Court that the Debtor owes the firm $8,000 in
prepetition fees.

The Debtor is represented by:

         Nicholas Hahn
         Paul G. Swanson, Esq.
         STEINHILBER, SWANSON, MARES, MARONE & McDERMOTT
         107 Church Ave.
         P.O. Box 617
         Oshkosh, WI 54903-0617
         Tel: (920) 235-6690
         Fax: (920) 426-5530
         E-mails: pswanson@oshkoshlawyers.com
                  NHahn@oshkoshlawyers.com

              About Feld Limited Partnership

Feld Limited Partnership, engaged in the business of leasing and
managing real properties in the Madison and Green Bay areas, filed
a Chapter 11 bankruptcy petition (Bank. E.D. Wisc. Case No.
16-20826) on Feb. 3, 2016.  Dennis J. Feld signed the petition as
general partner.  The Debtor disclosed total assets of $15.17
million and total debts of $7.50 million.  Steinhilber, Swanson,
Mares, Marone & McDermott serves as the Debtor's counsel.


FJK PROPERTIES: Full-Payment Plan Confirmed After $21.5M Sale
-------------------------------------------------------------
Judge Paul G. Hyman, Jr., on Jan. 26, 2016, entered an order (i)
confirming the Joint Plan of Liquidation of FJK Properties, Inc.
and FJK III Properties, Inc., and (ii) granting final approval to
the Amended Disclosure Statement.

The Plan will be funded by the sale proceeds received from the sale
of the Debtors' real property and any cash held by the Debtors as
of the date of the confirmation hearing.  The net sale proceeds to
be paid pursuant to the Plan will be sufficient to pay the allowed
non-insider unsecured claims in full.

Robert C. Furr, Esquire of Furr and Cohen, P.A., is named as
disbursing agent without additional compensation.

After the Effective Date of the order confirming the Plan, the
Debtors will cease operations.  Frederick J. Keitel, III, will
serve as corporate representative of the Liquidated Debtor for the
purpose of making final distributions to all Classes and winding
down the affairs of the Liquidated Debtors, including preparing any
final tax returns and filings with the State of Florida and Palm
Beach County Tax Collector.

The Debtor does not intend to pursue preference, fraudulent
conveyance, or other avoidance actions.

The Debtor on Dec. 18, 2015, filed the Joint Plan of Liquidation
and a Disclosure Statement.  On Dec. 23, 2015, it filed an Amended
Disclosure Statement.  A copy of the Amended Disclosure Statement
is available free of charge at:

           http://bankrupt.com/misc/FJK_P_76_Am_DS.pdf

The Court on Dec. 23 entered a preliminary order approving the
Amended Disclosure Statement and set a Jan. 25 hearing to consider
confirmation of the Plan and final approval of the Disclosure
Statement.

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

     http://bankrupt.com/misc/FJK_P_113_M_Final_Decree.pdf

                         Sale of Properties

The Debtor on Dec. 18, 2015, filed a motion to sell the properties
at 230 and 240 Royal Palm Way, Palm Beach, Florida 33480 Royal Palm
Owner, LLC and JHD Associates, LLC, for the purchase price of
$21,450,000, including all improvement, fixtures, equipment,
appliances, furnishings, the Debtors' interest in all leases or any
rental license, concession or other agreement or arrangement for
occupancy, all refundable security deposits, prepaid rents,
governmental permits, warranties, licenses, development rights,
certificate of occupancy or approvals in connection with the Royal
Palm Properties, services agreements, as is, where is and with all
faults and defects.

The Broker's Listing Agreement with realtor Holiday Fenoglio
Fowler, LP, provides that Realtor shall receive a success fee of
2.5% of the total gross purchase price, plus an incentive fee equal
to 3% of any portion of the gross purchase price in excess of
$22,000,000.  Also, the Realtor will receive reimbursable expenses
up to $10,000 for out-of-pocket costs, expenses reasonably incurred
in the marketing of the Properties.

The Court approved the sale of the properties on Jan. 13, 2016.

                       About FJK Properties

FJK Properties Inc. is a Florida profit corporation located in Palm
Beach, Florida and was formed on November 17, 1995 to purchase and
operate an office building located at 230 Royal Palm Way, Palm
Beach, Florida.

FJK III Properties, Inc., is a Florida profit corporation located
in Palm Beach, Florida and was formed on June 27, 1997 to purchase
and operate an office building located at 240 Royal Palm Way, Palm
Beach, Florida.

FJK Properties Inc. filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Fla. Case No. 15-19494) on May 26, 2015.  FJK III also filed a
Chapter 11 petition (Case No. 15-19496).  Hon. Paul G. Hyman, Jr.,
is assigned to the cases.

The Debtors tapped Robert C. Furr and the law firm Furr and Cohen,
P.A., as counsel.   The Debtors also won approval to hire David J.
Thomas, CPA and the firm of Holyfield & Thomas LLC ("Accountants")
as financial advisor and accountants.  The Debtors also engaged (i)
Manuel de Zaraga, Real Estate Broker and the firm of Holiday
Fenoglio Fowler, LP as exclusive agent to sell the debtors' real
property, and (ii) Jessica T. Lifshitz, Esq. and the law firm of
McDonald Hopkins as special real estate counsel.

                        *     *     *

The Court in July 2015 entered order dismissing the Chapter 11
cases due to failure to timely file schedules.  In August, the
Court vacated the dismissal orders after the Debtors file their
initial schedules and statements of financial affairs on July 14.

The Meeting of Creditors was held and concluded on August 14, 2015.
The U.S. Trustee did not appoint a Creditors' Committee.  

The Claims Bar Date expired on Nov. 12, 2015.


FJK PROPERTIES: Says Creditors Paid, Wants Case Closed
------------------------------------------------------
FJK Properties Inc., through its attorneys, filed a final report
and a motion for a final decree closing its Chapter 11 case.

The Debtor disclosed that:

   1. The plan of reorganization was confirmed on January 26, 2016.
The plan provided for a 100% dividend to unsecured creditors.

   2. The deposit required by the plan has been distributed and all
matters to be completed upon the effective date of the confirmed
plan have been fulfilled or completed.

   3. There are no longer any pending adversary proceedings or
contested matters which would affect the substantial consummation
of this case and the debtor, if an individual, has filed the local
form "Notice of Deadline to Object to Debtor's Statement Re: 11
U.S.C. Sec. 522(q)(1) Applicability, Payment of Domestic Support
Obligations, and (for Chapter 11 Cases Only) Applicability of
Financial Management Course and Statement Regarding Eligibility to
Receive Discharge".

   4. All administrative claims and expenses have been paid in
full, or appropriate arrangements have been made for the full
payment thereof.  The fees and expenses paid are:

     Fee for Attorney for Debtor              $116,343
     U.S. Trustee Fees                         $23,575
     Clerk of Court                             $2,099
     Other Professionals                       $27,686
                                              --------
     ALL expenses, including Trustee's        $169,703

   5. Distributions have been made to creditors of FJK III
Properties, Inc. Case No. 15-19496-PGH and FJK Properties, Inc.
Case No. 15-19494-PGH.

A copy of the Final Report and Motion for Final Decree, which
includes a list of the all the creditors paid by the Debtor:

     http://bankrupt.com/misc/FJK_P_113_M_Final_Decree.pdf

Based upon the Debtor's Final Report, the U.S. Trustee has no
objection to the Court granting the Debtor's Motion for Final
Decree.  The Debtor will remain liable for United States Trustee
quarterly fees for each calendar quarter (or portion thereof)
through the date the Final Decree is entered in this case.  The
United States Trustee reserves the right to seek to have the Final
Decree vacated should any United States Trustee Quarterly Fees
remain unpaid through date of closing by the court.

                       About FJK Properties

FJK Properties Inc. is a Florida profit corporation located in Palm
Beach, Florida and was formed on November 17, 1995 to purchase and
operate an office building located at 230 Royal Palm Way, Palm
Beach, Florida.

FJK III Properties, Inc., is a Florida profit corporation located
in Palm Beach, Florida and was formed on June 27, 1997 to purchase
and operate an office building located at 240 Royal Palm Way, Palm
Beach, Florida.

FJK Properties Inc. filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Fla. Case No. 15-19494) on May 26, 2015.  FJK III also filed a
Chapter 11 petition (Case No. 15-19496).  Hon. Paul G. Hyman, Jr.,
is assigned to the cases.

The Debtors tapped Robert C. Furr and the law firm Furr and Cohen,
P.A., as counsel.   The Debtors also won approval to hire David J.
Thomas, CPA and the firm of Holyfield & Thomas LLC ("Accountants")
as financial advisor and accountants.  The Debtors also engaged (i)
Manuel de Zaraga, Real Estate Broker and the firm of Holiday
Fenoglio Fowler, LP as exclusive agent to sell the debtors' real
property, and (ii) Jessica T. Lifshitz, Esq. and the law firm of
McDonald Hopkins as special real estate counsel.

                        *     *     *

The Court in July 2015 entered order dismissing the Chapter 11
cases due to failure to timely file schedules.  In August, the
Court vacated the dismissal orders after the Debtors file their
initial schedules and statements of financial affairs on July 14.

The Meeting of Creditors was held and concluded on August 14, 2015.
The U.S. Trustee's did not appoint a Creditors' Committee.

The Claims Bar Date expired on Nov. 12, 2015.


FOREST PARK SOUTHLAKE: Court Set to Hear Tax Consultant Hiring
--------------------------------------------------------------
A U.S. bankruptcy court is set to hear the applications filed by
Forest Park Medical Center at Southlake LLC to hire tax
consultants.

The U.S. Bankruptcy Court for the Northern District of Texas will
take up the applications at a hearing on March 21.

The company on Feb. 18 filed two separate applications to hire Tax
Advisors Group Inc. and Tax Advisors Group Sales and Use Tax LLC.

FPMC tapped Tax Advisors Group Inc. to be its business personal
property tax consultant.  The firm will also assist the company in
litigation proceedings.

The company proposed to pay the firm a contingent fee.  Tax
Advisors Group Inc.'s current contingent fee rate is 25% of the tax
savings, according to court filings.

Meanwhile, the other firm will serve as FPMC's sales and use tax
consultant.  Among the services to be provided by the firm is the
preparation of documents necessary to effect a refund from the
state government.

FPMC also proposed to pay the firm a contingent fee whose current
contingent fee rate is 33% of the tax savings, according to court
filings.

William Blankenship, a principal of both firms, disclosed in court
filings that the firms do not represent any interest adverse to
FPMC.

Early last month, FPMC received court approval to hire FTI
Consulting Inc.  

The order, issued by Judge Russell Nelms, also allowed the company
to designate J. Robert Medlin as its chief restructuring officer,
and Walt Brown as restructuring officer.

The bankruptcy judge approved the hiring despite opposition from
Vibrant Healthcare Southlake LLC and FPMC Services LLC.  Both
companies criticized FPMC for not explaining how the hiring of
restructuring officers will affect the management of its hospital
in Fort Worth, Texas.

                 About Forest Park Medical Center

Forest Park Medical Center at Southlake, LLC, owns and operates a
54 private bed state-of-the-art medical facility, including 10
family suites and 6 intensive care beds, located at 421 East Texas
114 Frontage Road, Southlake, Texas, and commonly known as Forest
Park Medical Center at Southlake.  The Hospital is a licensed, full
service, acute-care medical facility with an emergency room, full
service imaging and lab, twelve operating rooms and two procedure
rooms.  The Hospital provides all manner of in-patient and
out-patient services and treatments, including primarily elective
scheduled out-patient surgery.  The Hospital was opened in June of
2013, and since that time has performed over 15,000 surgeries and
provided non-surgical procedures, x-rays, lab work, ER, and related
services to numerous other patients.

Forest Park Medical Center at Southlake, LLC, filed a Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 16-40273) on Jan.
19, 2016.  Charles Nasem, the CEO, signed the petition.  Judge
Russell F. Nelms has been assigned the case.

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

Haynes and Boone, LLP, serves as counsel to the Debtor.


FOREST PARK: Needs Time to Close Sale Before Ending FPMC Deal
-------------------------------------------------------------
Forest Park Medical Center at Frisco, LLC, asks the Bankruptcy
Court for time to close the sale of substantially all of its assets
before it can file a motion seeking to reject the management
agreement with FPMC Services, LLC.

Vibrant Healthcare Frisco, LLC, and FPMC filed a motion to compel
the Debtor to decide whether to assume or reject the management
agreement.  In response, the Debtor said the sale is anticipated to
close by March 31, 2016.  The Court, on Feb. 18, 2016, approved the
sale of substantially all of the Debtor's assets to Columbia
Medical Center of Plano Subsidiary, L.P.  The Debtor stated that
once the sale has closed it would no longer need the services being
provided by FPMC under the management agreement.  Therefore, the
Debtor intends to file a motion to reject the management agreement
once the sale has closed.

However, prior to the closing of the sale, the Debtor continues to
need the services of FPMC Services including but not limited to
providing the hospital with employees and certain other back office
services.  Based on these, the Debtor said it is not opposed to the
relief sought under the motion to compel but asked the Court to
allow it the time needed until the close of the sale to file the
motion to reject the management agreement.

The Debtor is represented by:

         William L. Medford, Esq.
         Vickie L. Driver, Esq.
         Christina W. Stephenson, Esq.
         LEWIS BRISBOIS BISGAARD & SMITH, LLP
         2100 Ross Avenue, Suite 2000
         Dallas, TX 75201
         Tel: (214) 722-7100
         Fax: (214) 722-7111
         E-mails: william.medford@lewisbrisbois.com
                  vickie.driver@lewisbrisbois.com
                  christina.stephenson@lewisbrisbois.com

                    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.


GINGER OIL: Has Access to Cash Collateral Until April 27
--------------------------------------------------------
As of March 3, 2016, Judge Marvin Isgur has already entered two
interim orders authorizing Ginger Oil Company's limited use of cash
collateral.

The Debtor filed its cash collateral motion on Feb. 4.  On Feb. 11,
the Court entered its first interim order.  Pursuant to an
agreement between the Debtor and Independent Bank, the Court has
granted a second interim order, which authorizes the Debtor to use
IBTX's cash collateral until the continued final hearing, which is
scheduled for April 27, 2016, at 3:30 p.m. (prevailing Central
Time).  

IBTX does not consent to the Debtor's use of cash collateral except
in strict accordance with the budget and the Second Interim Order.
Access to cash collateral will terminate on the earlier of: (a) the
date of IBTX's provision of written notice of the occurrence of an
Event of Default; or (b) April 27.  As adequate protection for its
interests, IBTX will receive replacement liens, superpriority
administrative expense claims, and payment by the Debtor of all
fees and expenses, including attorney's fees of the Lender.  

A copy of the Second Interim Order is available for free at:

   http://bankrupt.com/misc/Ginger_Oil_30_2nd_Int_Cash_Ord.pdf

                        About Ginger Oil

Ginger Oil Company, engaged in the business of oil and gas
exploration and development in Arkansas, Louisiana and Texas, filed
a Chapter 11 bankruptcy petition (Bankr. S.D. Tex. Case No.
16-30678) on Feb. 4, 2016.  The petition was signed by William D.
Neville as president/director. Judge Marvin Isgur handles the case.
The Debtor disclosed total assets of $29.27 million and total
debts of $6.47 million.  

Cooper & Scully, PC, serves as counsel to the Debtor.  

Proofs of claim are due by June 6, 2016.  For governmental units,
the bar date is Aug. 2, 2016.


GUIDED THERAPEUTICS: Inks Amendment #8 to 2014 Promissory Notes
---------------------------------------------------------------
Guided Therapeutics, Inc., entered into an amendment agreement with
the holders of its secured promissory notes, originally issued
Sept. 10, 2014 ("Amendment #8"), in order to eliminate the volume
limitations on sales of common stock issued or issuable upon
conversion of the secured promissory notes, according to a Form
8-K report filed with the Securities and Exchange Commission.

The Amendment #8 was entered into as of March 7, 2016, by and among
GPB Debt Holdings II LLC and Aquarius Opportunity Fund (the
"Lenders") and the Company.

                     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.


HAGGEN HOLDINGS: Wants Plan Filing Exclusivity Until June 6
-----------------------------------------------------------
Haggen Holdings, LLC, et al., ask the U.S. Bankruptcy Court for the
District of Delaware to further extend until June 6, 2016, the
period by which they have exclusive rights to file a plan and until
August 4, 2016, the period by which they have exclusive rights to
solicit acceptance of the plan.

The Debtors have been operating under the protections of chapter 11
for just under six months.  During this time, the Debtors'
management and professionals have made significant progress in
stabilizing their business operations, ensuring a smooth transition
into Chapter 11, and preserving and maximizing the value of the
Debtors' estates for the benefit of all stakeholders.

Since the filing of the First Exclusivity Motion, the Debtors have,
among other things: (i) continued to pursue the sale of certain
core stores; (ii) conducted an additional GOB Sale with respect to
the Debtors' store located at 11012 Canyon Rd., East in Puyallup,
WA; (iii) conducted a Pharmacy Sale for the Puyallup Store; and
(iv) began reconciling claims.

In addition, the Debtors entered into a settlement agreement with
Albertson's LLC and Albertsons Companies, LLC, among others,
resolving the significant, outstanding litigation between the
Debtors and Albertson's; and negotiated at arms'-length with their
postpetition secured lenders to obtain extensions of certain
milestones and the maturity date under the postpetition credit
agreement.

According to Ian J. Bambrick, Esq., at Young Conaway Stargatt &
Taylor, LLP, in Wilmington, Delaware, accomplishing these tasks
within a mere six months has been a labor-intensive process, fully
occupying the Debtors' representatives and professionals.  In light
of these circumstances, including, without limitation, the on-going
marketing and sale process with respect to the Debtors' core
stores, the Debtors submit that the requested extensions are both
appropriate and necessary to afford them with sufficient time to
adequately prepare a viable chapter 11 plan and related
disclosure statement.

At this stage, an extension of the Exclusive Periods will allow the
Debtors to negotiate a chapter 11 plan, while continuing to devote
the necessary resources towards maximizing the value of their
estates through the Court-approved sale process, among other
things, Mr. Bambrick tells the Court.  The Debtors' current
progress towards resolving the issues facing their estates and
successfully negotiating and consummating the sales in these
chapter 11 cases justify the requested extension of the Exclusive
Periods, Mr. Bambrick asserts.

The Debtors are also represented by Matthew B. Lunn, Esq., Robert
F. Poppiti, Jr., Esq., and Ashley E. Jacobs, Esq., at Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware; and Frank A.
Merola, Esq., Sayan Bhattacharyya, Esq., and Elizabeth Taveras,
Esq., at Stroock & Stroock & Lavan LLP, in New York.

                      About Haggen Holdings

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

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

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

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

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

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

In September 2015, T. Patrick Tinker, assistant U.S. trustee for
Region 3, appointed seven creditors to the official committee of
unsecured creditors.  The Creditors Committee tapped Pachulski
Stang Ziehl & Jones LLP as counsel.


HEMCON MEDICAL: Goldstein & McClintock Okayed as Committee Counsel
------------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
bankruptcy case of HemCon Medical Technologies, Inc., won Court
approval to retain Goldstein & McClintock LLLP as its lead counsel,
nunc pro tunc to Jan. 22, 2016.

The firm will provide the full range of services required to
represent the Committee, including:

     (a) advising the Committee on all legal issues as they arise;


     (b) representing and advising the Committee regarding the
terms of any sales of assets or plans of reorganization or
liquidation, and assisting the Committee in negotiations with the
Debtor and other parties;

     (c) investigating the Debtor's assets and pre-bankruptcy
conduct;

     (d) preparing, on behalf of the Committee, all necessary
pleadings, reports, and other papers;

     (e) representing and advising the Committee in all proceedings
in these cases;

     (f) assisting and advising the Committee in its
administration; and

     (g) providing other services as are customarily provided by
counsel to a creditors' committee in cases of this kind.

Goldstein & McClintock will charge for its legal services on an
hourly basis.  Goldstein & McClintock's billing rates for attorneys
for the 2016 calendar year range from approximately $195.00 per
hour for associates to $725.00 per hour for senior partners, though
no attorney with a billing rate in excess of $435.00 per hour is
expected to spend substantial time on the case.  Time devoted by
legal assistants for the 2016 calendar year range from
approximately $135.00 to $255.00 per hour.

The Goldstein & McClintock professionals expected to be primarily
responsible for providing services to the Committee include:

     Thomas R. Fawkes – partner ($435/hour),
     Matthew E. McClintock – partner ($435/hour), and
     Sean Williams – associate ($285/hour)

Matthew E. McClintock, Esq., attests that his firm does not have
any connection with the Debtor, any other creditor of the same
class as the Committee, or other parties in interest or their
respective attorneys, and that the firm is a "disinterested person"
as that term is defined in section 101(14) of the Bankruptcy Code.


Tricol International Group Limited objected to the Committee's
request to retain Goldstein & McClintock LLLP and Zupancic Rathbone
Law Group, P.C.  Allowing the panel to hire both Chicago and local
counsel would create a substantial duplication of efforts resulting
in excessive fees, Tricol said.

Tricol has provided interim DIP financing to the Debtor and is
serving as stalking horse bidder.

"As the Stalking Horse Bidder under the Sale Motion, Tricol has a
heightened interest in assuring that only reasonable and necessary
administrative expenses are incurred and approved by the court,"
Tricol said in court papers.  It added that the approval of
unnecessary administrative expenses could also discourage bidding
since part of the purchase price includes unpaid administrative
expenses.

The Committee defended its applications, saying "there is nothing
unusual about this arrangement.  It happens routinely in cases
across the country, including in many committee representations in
Oregon."  The Committee also noted that it chose to retain
Goldstein & McClintock to substantively represent it in this
bankruptcy case.  Because Goldstein & McClintock has no Oregon
office, the Committee said Rule 83-3 of the Local Rules of Civil
Procedure requires Goldstein & McClintock to associate with local
counsel.  Hence, the Committee filed an application to retain
Zupancic, and more specifically an associate at Zupancic whose
billing rate is $285 per hour, to associate with Goldstein &
McClintock and assist the Committee as its Oregon counsel.

Tricol is represented by:

     Tara J. Schleicher, Esq.
     Margot D. Seitz, Esq.
     FARLEIGH WADA WITT
     121 SW Morrison Street, Suite 600
     Portland, OR 97204-3136
     Telephone: (503) 228-6044
     Facsimile: (503) 228-1741
     E-mail: tschleicher@fwwlaw.com
             mseitz@fwwlaw.com

Goldstein & McClintock may be reached at:

     GOLDSTEIN & MCCLINTOCK LLLP
     208 South LaSalle Street, Suite 1750
     Chicago, IL 60604
     Matthew E. McClintock, Esq.
     Direct Dial: (312) 219-6732
     Facsimile:  (312) 277.2305
     E-mail: mattm@goldmclaw.com
     Thomas R. Fawkes, Esq.
     Direct Dial: (312) 219-6702
     Facsimile: (312) 216-0734
     E-mail: tomf@goldmclaw.com

               HemCon Medical Technologies, Inc.

HemCon Medical Technologies, Inc. filed Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30119) on Jan. 15, 2016.
The petition was signed by Michael Wax as president and CEO. The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Tonkon Torp LLP represents the Debtor as
counsel.

On Jan. 22, 2016, the Office of the United States Trustee appointed
an official committee to represent the interests of unsecured
creditors.  The Committee selected Goldstein & McClintock LLLP as
its lead counsel, and Zupancic Rathbone Law Group, P.C. as its
Oregon counsel.  Healthios Capital Markets, LLC serves as its
investment banker.

HemCon began operations in 2001 and today brings advanced wound
care technologies to the worldwide healthcare market.

The Debtor previously filed a Chapter 11 bankruptcy on April 10,
2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on
May 6, 2013, and the Final Decree was entered and the case was
closed on Nov. 20, 2013.


HEMCON MEDICAL: Healthios Approved as Panel's Investment Banker
---------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
bankruptcy case of HemCon Medical Technologies, Inc., sought and
obtained Court approval to retain Healthios Capital Markets, LLC,
as its investment banker.

On Feb. 12, 2016, the Committee selected Healthios as its
investment banker to market and sell the Debtor's assets.
According to the Committee, in addition to the fact that Healthios
has substantial experience marketing and selling companies in the
medical device industry, Healthios was retained by the Debtor
pre-petition.  Although Healthios had identified numerous
interested parties, it struggled to find a buyer outside of
bankruptcy in light of the Debtor's debt obligations and the SEC
investigation involving its parent company.  Those issues are now
resolved with the bankruptcy -- the assets can be sold "free and
clear" -- and given its prior work and connections, as well as the
expedited sale timeframe, the Committee determined that retaining
Healthios presents the best opportunity to maximize value.

Given the importance of a robust sales process and competitive
auction, the Debtor, Sussex Associates, L.P. (the only creditor
listed as having a security interest in the Debtor's schedules),
and the Committee are all in favor of the Committee retaining
Healthios.  The Committee circulated the Application, a Rule 2014
Verified Statement, and proposed order to the Debtor, Sussex
Associates, and the U.S. Trustee.  No parties opposed the
application, according to the Committee.

Healthios will be paid according to this structure:

                        Percentage of
                        Incremental
                        Aggregate  
                        Consideration      Advisor's
     Aggregate          payable as         Maximum
     Consideration      Success Fee        Success Fee
     -------------      --------------     -----------
     $1 - 4 million                 0%              $0

     Above $4 million
     - $5 million                   2%      $20,000.00

     Above $5 million
     - $6 million                  10%     $120,000.00

     Above $6 million
     - $7 million                  10%     $220,000.00

     Above $7 million
     - $8 million                  15%     $370,000.00

     Above $8 million
     - $9 million                  15%     $520,000.00

     Above $9 million
     - $10 million                 15%     $770,000.00

     Above $10 million
     - $11 million                 15%     $820,000.00

     Above $11 million
     - $20 million                  5%   $1,000,000.00

     Above $20 million              0%   $1,000,000.00

The Committee said it has negotiated a contingency fee structure
whereby Healthios will only be paid a Success Fee in the event that
the Debtor's assets are sold for more than $4 million (i.e., more
than the stalking horse bid).  In fact, unless Healthios is able to
help the Debtor drive the price of the assets above $5 million --
i.e., over a million dollars more than the current bid -- Healthios
would at most earn $20,000.  The structure is designed to
incentivize Healthios to truly maximize value, and to fairly reward
Healthios if it is successful at doing so.

Healthios attests that it does not have any connection with the
Debtor, any other creditor of the same class as the Committee, or
other parties in interest or their respective attorneys, and is a
"disinterested person" as that term is defined in section 101(14)
of the Bankruptcy Code.

The firm may be reached at:

     W. Gregory Shearer
     Managing Director
     Healthios Capital Markets, LLC
     Tel: (847) 400-5000
     E-mail: dloucks@healthios.com

               HemCon Medical Technologies, Inc.

HemCon Medical Technologies, Inc. filed Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30119) on Jan. 15, 2016.
The petition was signed by Michael Wax as president and CEO. The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Tonkon Torp LLP represents the Debtor as
counsel.

On Jan. 22, 2016, the Office of the United States Trustee appointed
an official committee to represent the interests of unsecured
creditors.  The Committee selected Goldstein & McClintock LLLP as
its lead counsel, and Zupancic Rathbone Law Group, P.C. as its
Oregon counsel.  Healthios Capital Markets, LLC serves as its
investment banker.

HemCon began operations in 2001 and today brings advanced wound
care technologies to the worldwide healthcare market.

The Debtor previously filed a Chapter 11 bankruptcy on April 10,
2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on
May 6, 2013, and the Final Decree was entered and the case was
closed on Nov. 20, 2013.


HEMCON MEDICAL: Taps Miller Nash Over Intellectual Property Issues
------------------------------------------------------------------
HemCon Medical Technologies, Inc. asks the Bankruptcy Court for
authority to employ Miller Nash Graham & Dunn LLP as special
counsel to assist the Debtor in intellectual property matters.

The Debtor also asks the Court to approve procedures authorizing it
to retain, employ and compensate certain patent professionals
utilized in the ordinary course
of business in connection with patent matters in foreign
jurisdictions.

The Debtor said Miller Nash will represent it in connection with
intellectual property matters, primarily in maintaining its
existing patent portfolio and providing patent counseling and
closing of a sale to a prospective purchaser.  Patent maintenance
includes the tracking of and ensuring timely response to patent
office actions and payment of ongoing patent-related fees, as well
as providing instructions to various attorneys and similar service
providers in foreign jurisdictions in relation to the maintenance
of foreign applications and patents on the Debtor's behalf.

The Debtor said Miller Nash has substantial experience in legal
matters related to the United States Patent & Trademark Office,
including registration to practice before the Office.  Furthermore,
Miller Nash has represented Debtor for many years as its
intellectual property counsel, and is intimately familiar with the
Debtor's extensive patent portfolio.

The Miller Nash professionals who will be primarily responsible for
providing these services, their status and their current billing
rates are:

     Professional       Status      Hourly Rate
     ------------       ------      -----------   
     Chandra Eidt       Partner         $450
     Erich Merrill      Partner         $570
     Elizabeth Miller   Paralegal       $240
     Hillary Pratt      Administrative   $95
                        Assistant

Prior to the Petition Date, Miller Nash provided legal services to
the Debtor.  As of the Petition Date, Miller Nash's unpaid billings
to the Debtor are $97,754.19 and Miller Nash holds an unapplied
prepetition retainer of $13,060.50, as stated in the accompanying
Rule 2014 Verified Statement of Chandra Eidt.  Within the 90 days
prepetition Miller Nash received payments toward invoices and to
its trust account of $17,250.00.

Miller Nash attests that it does not represent or hold any interest
adverse to the Debtor or to the estate with respect to the matter
on which Miller Nash is to be employed.  

The Debtor estimates the fees and expenses for Miller Nash
(including Foreign Patent Professionals) as intellectual property
counsel will total $25,700 through closing of the proposed sale, if
the sale is closed by April 8, 2016, or $33,700 if the sale does
not close until April 29, 2016.  

Miller Nash provides instructions to the Foreign Patent
Professionals in connection the maintenance of the Debtor's patents
in foreign jurisdictions.  The Foreign Patent Professionals will
not be involved in the administration of this Chapter 11 case.
Consequently, the Debtor does not believe the Foreign Patent
Professionals are "professionals" as that term is used in Section
327 of the Bankruptcy Code, whose retention must be approved by
this Court.  Nevertheless, the Debtor makes this request out of an
abundance of caution.  Specifically, the Debtor seeks entry of an
order authorizing it to (a) retain and employ Foreign Patent
Professionals on an "as needed" basis without the submission of
separate, formal retention applications for each Foreign Patent
Professional; and (b) establish procedures to compensate the
Foreign Patent Professionals.

The firm may be reached at:

     Chandra Eidt
     Miller Nash Graham & Dunn LLP as
     2801 Alaskan Way, Suite 300
     Seattle, WA 98121
     Tel: 206.777.7513
     E-mail: Chandra.Eidt@millernash.com

               HemCon Medical Technologies, Inc.

HemCon Medical Technologies, Inc. filed Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30119) on Jan. 15, 2016.
The petition was signed by Michael Wax as president and CEO. The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Tonkon Torp LLP represents the Debtor as
counsel.

On Jan. 22, 2016, the Office of the United States Trustee appointed
an official committee to represent the interests of unsecured
creditors.  The Committee selected Goldstein & McClintock LLLP as
its lead counsel, and Zupancic Rathbone Law Group, P.C. as its
Oregon counsel.  Healthios Capital Markets, LLC serves as its
investment banker.

HemCon began operations in 2001 and today brings advanced wound
care technologies to the worldwide healthcare market.

The Debtor previously filed a Chapter 11 bankruptcy on April 10,
2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on
May 6, 2013, and the Final Decree was entered and the case was
closed on Nov. 20, 2013.


HEMCON MEDICAL: Zupancic Okayed as Committee's Oregon Counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
bankruptcy case of HemCon Medical Technologies, Inc., won Court
approval to retain Zupancic Rathbone Law Group, P.C. as Oregon
counsel to the Committee, nunc pro tunc to Jan. 22, 2016.

Although Goldstein & McClintock LLLP, will be serving as the
Committee's lead counsel, where more efficient, Zupancic will
provide a range of services including:

     (a) advising the Committee on legal issues as they arise,
including compliance with local rules and procedure;

     (b) attending hearings on behalf of the Committee;

     (c) representing and advising the Committee regarding the
terms of any sales of assets or plans of reorganization or
liquidation, and assisting the Committee in negotiations with the
Debtor and other parties;

     (d) investigating the Debtor's assets and pre-bankruptcy
conduct;  

     (e) preparing, on behalf of the Committee, necessary
pleadings, reports, and other papers;

     (f) representing and advising the Committee in proceedings in
these cases;

     (g) assisting and advising the Committee in its
administration; and

     (h) providing such other services as are customarily provided
by counsel to a creditors' committee in cases of this kind.

Zupancic will charge for its legal services on an hourly basis.
Its billing rates for attorneys for the 2016 calendar year range
from approximately $235.00 per hour for associates to $465.00 per
hour for senior partners, though no attorney with a billing rate in
excess of $285.00 per hour is expected to spend substantial time on
the case.  Time devoted by paralegals for the 2016 calendar year is
billed at $175.00 per hour.  

The attorney expected to be primarily responsible for providing
services to the Committee is Marjorie A. Elken - associate
($285/hour).   From time to time, it may be necessary for other
Zupancic professionals to provide services to the Committee.

Tricol International Group Limited objected to the Committee's
request to retain Goldstein & McClintock LLLP and Zupancic Rathbone
Law Group, P.C.  Allowing the panel to hire both Chicago and local
counsel would create a substantial duplication of efforts resulting
in excessive fees, Tricol said.

Tricol has provided interim DIP financing to the Debtor and is
serving as stalking horse bidder.

"As the Stalking Horse Bidder under the Sale Motion, Tricol has a
heightened interest in assuring that only reasonable and necessary
administrative expenses are incurred and approved by the court,"
Tricol said in court papers.  It added that the approval of
unnecessary administrative expenses could also discourage bidding
since part of the purchase price includes unpaid administrative
expenses.

The Committee defended its applications, saying "there is nothing
unusual about this arrangement.  It happens routinely in cases
across the country, including in many committee representations in
Oregon."  The Committee also noted that it chose to retain
Goldstein & McClintock to substantively represent it in this
bankruptcy case.  Because Goldstein & McClintock has no Oregon
office, the Committee said Rule 83-3 of the Local Rules of Civil
Procedure requires Goldstein & McClintock to associate with local
counsel.  Hence, the Committee filed an application to retain
Zupancic, and more specifically an associate at Zupancic whose
billing rate is $285 per hour, to associate with Goldstein &
McClintock and assist the Committee as its Oregon counsel.

Tricol is represented by:

     Tara J. Schleicher, Esq.
     Margot D. Seitz, Esq.
     FARLEIGH WADA WITT
     121 SW Morrison Street, Suite 600
     Portland, OR 97204-3136
     Telephone: (503) 228-6044
     Facsimile: (503) 228-1741
     E-mail: tschleicher@fwwlaw.com
             mseitz@fwwlaw.com

Zupancic may be reached at:

     Marjorie A. Elken, Esq.
     ZUPANCIC RATHBONE LAW GROUP, P.C.
     4949 Meadows Road, Suite 600
     Lake Oswego, OR 97035
     Direct Dial:  (503) 210-2242
     Facsimile: (503) 968-8017
     E-mail:  MElken@zrlawgroup.com

               HemCon Medical Technologies, Inc.

HemCon Medical Technologies, Inc. filed Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30119) on Jan. 15, 2016.
The petition was signed by Michael Wax as president and CEO. The
Debtor estimated both assets and liabilities in the range of $10
million to $50 million.  Tonkon Torp LLP represents the Debtor as
counsel.

On Jan. 22, 2016, the Office of the United States Trustee appointed
an official committee to represent the interests of unsecured
creditors.  The Committee selected Goldstein & McClintock LLLP as
its lead counsel, and Zupancic Rathbone Law Group, P.C. as its
Oregon counsel.  Healthios Capital Markets, LLC serves as its
investment banker.

HemCon began operations in 2001 and today brings advanced wound
care technologies to the worldwide healthcare market.

The Debtor previously filed a Chapter 11 bankruptcy on April 10,
2012, in the District of Oregon (Case No. 12-32652-elp11).  The
Debtor's Fifth Amended Plan of Reorganization was confirmed on
May 6, 2013, and the Final Decree was entered and the case was
closed on Nov. 20, 2013.


HORSEHEAD HOLDING: Wants April 17 as General Claims Bar Date
------------------------------------------------------------
Horsehead Holding Corp., et al., ask the U.S. Bankruptcy Court for
the District of Delaware to establish:

   a. April 17, 2016, at 5:00 p.m., as the last date and time for
any individual or entity to file proofs of claim against any
Debtor;

   b. Aug. 1, 2016, at 5:00 p.m., as deadline solely as to
governmental units to file Proofs of Claim against any Debtor; and

   c. establish April 17, at 5:00 p.m., as the administrative
claims bar date for all parties asserting a request for payment of
administrative claims arising between the Petition Date and April
1, 2016, excluding claims for fees and expenses of professionals
retained in the proceedings and claims asserting priority pursuant
to Section 503(b)(9) of the Bankruptcy Code;

Each proof of claim must be filed, including supporting
documentation, by U.S. Mail or other hand delivery system, so as to
be actually received by the claims and noticing agent at these
addresses:

If by first-class mail, send to:

         Horsehead Holding Corp., Claims Processing Center
         c/o Epiq Bankruptcy Solutions, LLC
         P.O. Box 4421
         Beaverton, OR 97076-4421

If by hand delivery or overnight mail, send to:

         Horsehead Holding Corp., Claims Processing Center
         c/o Epiq Bankruptcy Solutions, LLC
         10300 SW Allen Blvd.
         Beaverton, OR 97005

                     About Horsehead Holding

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

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

The Debtors currently employ approximately 730 full-time
individuals.

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


ICONIX BRAND: S&P Affirms 'B' CCR & Rates $300MM Sec. Loan 'B'
--------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on New York City-based Iconix Brand Group Inc.  At
the same time, S&P assigned a 'B' issue-level rating to Iconix's
$300 million secured term loan due 2021, with a recovery rating of
'3'.  The '3' recovery rating indicates S&P's expectation for
meaningful recovery in the event of a payment default, at the lower
end of the range 50% to 70% range.  S&P based the issue-level and
recovery ratings on preliminary terms and are subject to final
review upon receipt of final documentation.

Pro forma for the new term loan facility issued to refinance the
maturity convertible notes, S&P estimates Iconix's debt level will
remain around $1.4 billion for 2016.

"Our rating affirmation incorporates our expectations that Iconix's
credit profile can sustain the $40 million increased annual cash
interest cost and required principal amortization from the new term
loan," said credit analyst Suyun Qu.  "We expect the company's
operating result to be generally in line with previous expectation
and adjusted financial leverage will remain just around 6x as the
company continues to grow via acquisitions."

The stable outlook reflects S&P's view that the newly hired CEO,
the conclusion of the SEC comment letter process, and the
refinancing of the near term maturity, should enable to company to
focus on executing the new management's strategy to support stable
profits and cash flows, with debt leverage remaining between 5x and
6x as the company reinvests into the business via acquisitions.
S&P also assumes any repercussions from the ongoing SEC
investigation are limited and contained, and does not jeopardize
Iconix's business.

S&P could lower the rating over the next year if the new management
team fails to execute its strategies and cannot generate expected
levels of royalty income, which could lead to weaker-than-expected
credit metrics.  S&P could also lower the rating if declining
operating performance with EBITDA declining 30%, such that free
operating cash flow decreases to below $100 million, leaving only
marginal positive free cash flow after required debt amortization.

Additionally, S&P could lower the rating if it believes
reputational, legal, or regulatory developments related to the
ongoing SEC investigation are likely to imperil the company's
ability to generate sufficient levels of contract renewal and cash
flow, or if it leads to reputational damages.

While highly unlikely over the next year, considering Iconix's
acquisitive nature and governance issues, S&P could upgrade the
company if it believes it is sustaining leverage at below 5x.  S&P
estimates this could occur if, for example, the company directs
free cash flow toward reducing debt.  S&P calculates that more than
$280 million of debt reduction from S&P's projected debt and EBITDA
levels at end of 2016 would cause debt leverage to decline to below
5x.  In addition, S&P would need to see its management and
governance risks, including a successful conclusion of the SEC
investigation, having subsided.



ICTS INTERNATIONAL: Atzmon Has 18.6% Ownership
----------------------------------------------
In a Schedule 13D filed with the Securities and Exchange
Commission, Menachem Atzmon, a director of ICTS International N.V.,
reported that as of Dec. 24, 2015, he beneficially owns 1,500,000
shares of common stock of ICTS representing 18.6 percent based on
8,061,698 shares of Common Stock outstanding as of June 30, 2015,
as reported in the Issuer's Report on FORM 6-K submitted on Dec.
22, 2015.  A copy of the regulatory filing is available for free at
http://is.gd/9JeQb7

                   About ICTS International

ICTS International N.V. is a public limited liability company
organized under the laws of The Netherlands in 1992.

ICTS specializes in the provision of aviation security and other
aviation services.  Following the taking of its aviation security
business in the United States by the TSA in 2002, ICTS, through
its subsidiary Huntleigh U.S.A. Corporation, engages primarily in
non-security related activities in the USA.

ICTS, through I-SEC International Security B.V., supplies aviation
security services at airports in Europe and the Far East.

In addition, I-SEC Technologies B.V. including its subsidiaries
develops technological systems and solutions for aviation and non?
aviation security.

ICTS International reported a net loss of $4.25 million on
$85.0 million of revenue for the six months ended June 30, 2015,
compared with a net loss of $2.55 million on $82.5 million of
revenue for the same period during the prior year.  As of June 30,
2015, the Company had $37.2 million in total assets, $80.7 million
in total liabilities and a total shareholders' deficit of $43.5
million.

Mayer Hoffman McCann CPAs, in New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, citing that the Company has a history of
losses from continuing operations, negative cash flows from
operations and a working capital and shareholders' deficit.
Collectively, these conditions raise substantial doubt about the
Company's ability to continue as a going concern.


IDERA PHARMACEUTICALS: Files Investor Presentation with SEC
-----------------------------------------------------------
Idera Pharmaceuticals, Inc. uploaded a presentation to its website,
www.iderapharma.com, discussing the state of the Company.   A copy
of the presentation is available for free at:

                        http://is.gd/VBBD7s

                            About Idera

Cambridge, Massachusetts-based Idera Pharmaceuticals, Inc., is a
clinical stage biotechnology company engaged in the discovery and
development of novel synthetic DNA- and RNA-based drug candidates
that are designed to modulate immune responses mediated through
Toll-like Receptors, or TLRs.  The Company has two drug
candidates, IMO-3100, a TLR7 and TLR9 antagonist, and IMO-8400, a
TLR7, TLR8, and TLR9 antagonist, in clinical development for the
treatment of autoimmune and inflammatory diseases.

Idera Pharmaceuticals reported a net loss attributable to common
stockholders of $39.2 million in 2014, a net loss applicable to
common stockholders of $21.09 million in 2013 and a net loss
applicable to common stockholders of $22.5 million in 2012.

As of Sept. 30, 2015, the Company had $99.08 million in total
assets, $6.42 million in total liabilities and $92.7 million in
total stockholders' equity.


IHEARTCOMMUNICATIONS INC: Moody's Affirms Caa2 Corp. Family Rating
------------------------------------------------------------------
Moody's Investors Service says iHeartCommunications, Inc.'s receipt
of a Notice of Default on March 7, 2016, from holders of at least
25% of the outstanding principal amount of four of the company's
Priority Guarantee Notes will not change the existing ratings
including the Caa2 CFR and Caa1 PGN rating.

However, if the debt were to be accelerated, Moody's would consider
it as a default.  Moody's expects the company to look for ways to
reduce leverage and extend its debt maturities in the near term.  A
restructuring plan that led to a bankruptcy filing would be
considered as a default.  An exchange of debt for another security
is possible and would likely be considered a distressed exchange
and categorized as a Limited Default by Moody's.  Buying back the
company's debt at a discount may also be considered a distressed
exchange, although we view this option as less likely given the
limited improvement offered to the balance sheet.

iHeartCommunications, Inc. (iHeart) (fka Clear Channel
Communications, Inc.) with its headquarters in San Antonio, Texas,
is a global media and entertainment company specializing in mobile
and on-demand entertainment and information services for local
communities and advertisers.  The company's businesses include
digital music, radio broadcasting and outdoor displays (via the
company's 90% ownership of Clear Channel Outdoor Holdings Inc.
("CCOH")).  iHeart's consolidated revenue for the LTM period ending
Q4 2015 was approximately $6.2 billion.


IHEARTMEDIA INC: S&P Puts 'CCC' CCR on CreditWatch Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services said that it placed its ratings,
including the 'CCC' corporate credit ratings, on San Antonio,
Texas-based radio broadcaster and outdoor advertising company
iHeartMedia Inc. and its subsidiary iHeartCommunications Inc. on
CreditWatch with negative implications.

At the same time, S&P placed its issue-level ratings on CCU Escrow
Corp.'s debt on CreditWatch negative. CCU Escrow was merged into
iHeartCommunications in 2014.

"The CreditWatch placement reflects our view that, barring a
resolution of the alleged covenant violations within the next 60
days, iHeartCommunications will default," said Standard & Poor's
credit analyst Jeanne L Shoesmith.  "If iHeartCommunications debt
is accelerated, we do not believe the company has the financial
resources to pay these obligations. In the event of default, we
would lower our ratings on iHeartMedia and iHeartCommunications to
'D'."

The alleged notices of default stem from iHeartCommunications'
contribution of 100 million Clear Channel Outdoor Holdings Inc.
shares, currently worth about $440 million, to an unrestricted
subsidiary.

iHeartMedia faces significant debt maturities starting in 2018 and
a total debt load of more than $20 billion, including $905 million
due in 2018 and $8.3 billion due in 2019.  As of Dec. 31, 2015, the
company had $772.7 million of cash.  The company depends on
favorable business, financial, and economic conditions to meet its
financial commitments, which appear to be unsustainable, barring
meaningful growth and cash generation over the next three years.
iHeartCommunications' debt is trading at steep discount to par, and
S&P believes the company may repurchase debt at discounted levels,
which it would view as tantamount to default, based on S&P's
criteria.

Resolution of the CreditWatch depends on iHeartCommunications'
ability to resolve the covenant violations before the 60-day notice
expires.  S&P could lower its corporate credit rating on
iHeartMedia if S&P views a default as inevitable within the next
six months, absent any significantly favorable changes in the
company's circumstances.


JOYCE LESLIE: Clear Thinking Approved as Financial Advisor
----------------------------------------------------------
Joyce Leslie, Inc., may employ Clear Thinking Group LLC as its
financial advisor, the Bankruptcy Court has ruled.

Clear Thinking's involvement with the Debtor began in or about
January 2014 when the firm was retained to assist the Debtor in
connection with comprehensive negotiations with various factoring
companies on the terms of a forbearance agreement.  Since that
time, Clear Thinking's input has been looked upon very favorably by
the factoring and vendor community, and the firm assisted the
Debtor in procuring an Asset Based Lender, improved the Company's
financial reporting and recommended various programs to reduce
expenses and better maximize store operations.  

Thus, following completion of the forbearance agreement, Clear
Thinking remained as the Debtor's financial consultants performing
in a variety of capacities, most recently pursuant to a certain
engagement agreement effective as of October 1, 2015.  The
Engagement Agreement coincided with the appointment of Lee Diercks
as
the Debtor's Chief Restructuring Officer and the hiring of a new
CEO.

The Debtor seeks to continue Clear Thinking engagement's as its
financial advisor.

Before the Chapter 11 filing, Clear Thinking also began a marketing
process for the Debtor's assets and negotiated a proposed stalking
horse Agency Agreement with SB Capital and its joint venture
partners.

Clear Thinking will:

     a. assist in the evaluation of the Debtor's options and sale
prospects;   

     b. assist the Debtor in preparing financial materials in
conjunction with the sale of the Company either as a going concern
or under a liquidation scenario;   

     c. assist in the development of financial data and
presentations to landlords, various creditors, the Court and other
third parties;   

     d. assist with the preparation of necessary schedules, budgets
and court related reporting;   

     e. analyze various liquidation scenarios and potential impact
of these scenarios on the recoveries for creditors;   

     f. participate in negotiation among the Debtor and its
various, suppliers, landlords; and  

     g. provide other advisory services as customarily provided in
connection with a retail Chapter 11 proceeding.

Mr. Diercks attests that (a) Clear Thinking is a "disinterested
person" within the meaning of section 101(14) of the Bankruptcy
Code and as required by section 327(a)
of the Bankruptcy Code and referenced by section 328 of the
Bankruptcy Code, and holds no interest materially adverse to the
Debtor, its creditors, and shareholders for the matters for which
Clear Thinking is to be employed; and (b) Clear Thinking has no
other connection to the Debtor, its creditors, equity holders or
related parties.

The Debtor and Clear Thinking agreed to these terms of
compensation:

     Retainer: $75,000.00

     Hourly Fees:

          Partner $350.00
          Managing Director $300.00
          Manager / Consultant $250.00
          Consultant $200.00  

     Cash Expenses: The Debtor will reimburse Clear Thinking for
all reasonable out- of-pocket expenses incurred in connection with
the engagement.

Of the $75,000 retainer paid to Clear Thinking, $30,000 was
utilized for pre-petition services and approximately $45,000 is
available for post-petition services. The Debtor does not owe Clear
Thinking any amount for services performed or expenses incurred
prior to the Petition Date. Accordingly, Clear Thinking is not a
prepetition creditor of the Debtor.

The firm may be reached at:

     Lee A. Diercks
     Clear Thinking Group, LLC
     401 Towne Center Drive
     Hillsborough, N.J. 08844.
     Tel: (908) 431-2122
     E-mail: ldiercks@clearthinkinggrp.com

                       About Joyce Leslie

Joyce Leslie, Inc., operates a chain of 47 women's retail clothing
stores located throughout New York, New Jersey, Pennsylvania and
Connecticut.  It filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 16-22035) on Jan. 9, 2016.  The petition was
signed by Lee Diercks as chief restructuring officer.  The Debtor
disclosed total assets of $7 million and total debts of $9
million.

Judge Robert D. Drain has been assigned the case.

The Debtor has engaged Goldberg Weprin Finkel Goldstein LLP as
counsel, Clear Thinking Group as financial advisor, Oberon
Securities, LLC, as investment advisor, SB Capital Group LLC,
Tiger
Capital Group, LLC, and 360 Merchant Solutions, LLC, as
liquidation
agents and Rust Consulting/Omni Bankruptcy as claims and noticing
agent.

An official commitee of unsecured creditors has been appointed in
the case.


JOYCE LESLIE: Court Approves Oberon as Investment Banker
--------------------------------------------------------
Joyce Leslie, Inc., sought and obtained Court approval to employ
Oberon Securities, LLC and Lynx Capital, LLC as as its investment
banker.

Oberon will provide advising and investment banking related
services to the Debtor, including the pursuit of a going concern
buyer for the company, or
buyers for select assets and store leases.  

Oberon's involvement with the Debtor began in or about October 2014
when Oberon was first retained to assist the Debtor with attempting
to locate a potential going concern  buyer.  Since that time,
Oberon has contacted dozens of potential purchasers and maintained
an active list of contacts and an electronic "data room," where
interested parties can view information about the Debtor.  Although
Oberon did not successfully locate a going concern buyer
pre-petition, the Debtor decided to continue utilizing Oberon's
services post-petition on a restructured and reduced basis, so as
to pursue all possible sale options.

Oberon is a New York-based  investment banking firm, founded in
2004, that provides a wide range of investment advisory services,
including (i) strategic advisory services; (ii) general financial
advice; and (iii) facilitating mergers, acquisitions and
divestitures, to middle-market companies. In April 2014, Oberon was
retained as investment banker and financial advisor by New
Koosharem Corporation (a.k.a. Select Staffing) with respect to its
approximately $700 million Chapter 11 prepackaged bankruptcy
filing. Oberon's founders and senior professionals, many of whom
come from bulge bracket firms, have extensive transactional
experience across a broad range of industries, including Consumer
Products and Retail.  

Oberon attests that it is a "disinterested person" within the
meaning of section 101(14) of the Bankruptcy Code and as required
by section 327(a) of the Bankruptcy Code and referenced by section
328 of the Bankruptcy Code, and holds no interest materially
adverse to the Debtor, its creditors, and shareholders for the
matters for which Oberon is to be employed.

The Debtor and Oberon agreed that Oberon's compensation would be
based upon a $50,000 work fee and a sliding-scale percentage of
proceeds only due and payable upon the
closing of a Going Concern transaction, for the entire company or
substantially all of its assets, or for the sale of select real
estate leases or other assets on a
going concern.

For a Going Concern Transaction, Oberon would receive a fee that
varies depending upon the size of the transaction:

     (i) $50,000 plus 5.0% of the gross proceeds of a Going Concern
Transaction if the gross proceeds are below $2.0 million; or

    (ii) 75,000 plus 6.0% of the gross proceeds of  a Going Concern
Transaction if the gross proceeds are from $2.0 million to $3.5
million; or

   (iii) 100,000 plus 7.0% of the gross proceeds of a Going Concern
Transaction if the gross proceeds are above $3.5 million.

For a Real Estate Sale transaction, Oberon would receive an amount
equal to 5.0% of the total value of the specific assets sold if the
value of the assets is less than or equal to $1.0 million, or 6.5%
if the value of the assets exceeds $1.0 million.  

The Debtor also agreed to reimburse Oberon for its reasonable
out-of-pocket expenses.  The  work fee of $50,000 which was paid
pre-petition is a credit against any fees that may be earned by
Oberon pursuant to the new Engagement Agreement.

Nicole Schmidt, a key registered representative and a founding
partner of Oberon Securities, LLC, said Oberon has been retained by
Joyce Leslie to act as an
investment banker and advisor since October 2014 for the purpose of
seeking a buyer for the company.  "Our initial engagement was
predicated upon a success fee between 5% and 8% depending upon the
size of the transaction, plus a work fee of $50,000," she said.
"In anticipation of a Chapter 11 filing, the Debtor requested that
Oberon  restructure its engagement and terminate the prior
agreement.  Oberon agreed to that request after much discussion and
the prior agreement is no longer in force and effect and has been
superseded by a new engagement agreement for the post-petition
bankruptcy periods."

Ms. Schmidt said her firm is a "disinterested person" as that term
is defined in section 101(14) of the Bankruptcy Code, as modified
by section 1107(b) of the Bankruptcy Code.

She may be reached at:

     Nicole Schmidt, Esq.
     Oberon Securities, LLC
     1412 Broadway, Suite 2304
     New York, NY 10018
     Tel: (212) 386-7080
     Fax: (212) 386-7078

Joyce Greenberg, a key registered representative of Lynx Capital,
LLC and CEO of CAP Greenberg LLC, a boutique investment firm doing
business in the New York City metropolitan area, said her firm has
been retained by the Debtor to act as an investment banker and
advisor since October 2014 for the purpose of seeking a buyer for
the company.  "Our initial engagement was predicated upon a success
fee between 5% and 8% depending upon the size of the transaction,
plus a retainer of $50,000," she said.  "In anticipation of a
Chapter 11 filing, the Debtor requested that Lynx restructure its
engagement and terminate the prior agreement.  Lynx agreed to that
request after much discussion and the prior agreement is no longer
in force and effect and has been superseded by a new engagement
agreement for the post-petition bankruptcy periods."

She said Lynx is a "disinterested person" as that term is defined
in section 101(14) of the Bankruptcy Code, as modified by section
1107(b) of the Bankruptcy Code.

She may be reached atL

     Joyce Greenberg
     CAP Greenberg LLC
     750 LEXINGTON AVENUE SUITE 1501
     NEW YORK, NY, 10022
     Tel: 212-287-6192

                       About Joyce Leslie

Joyce Leslie, Inc., operates a chain of 47 women's retail clothing
stores located throughout New York, New Jersey, Pennsylvania and
Connecticut.  It filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 16-22035) on Jan. 9, 2016.  The petition was
signed by Lee Diercks as chief restructuring officer.  The Debtor
disclosed total assets of $7 million and total debts of $9
million.

Judge Robert D. Drain has been assigned the case.

The Debtor has engaged Goldberg Weprin Finkel Goldstein LLP as
counsel, Clear Thinking Group as financial advisor, Oberon
Securities, LLC, as investment advisor, SB Capital Group LLC,
Tiger
Capital Group, LLC, and 360 Merchant Solutions, LLC, as
liquidation
agents and Rust Consulting/Omni Bankruptcy as claims and noticing
agent.

An official commitee of unsecured creditors has been appointed in
the case.


JOYCE LESLIE: Goldberg Weprin Approved as Bankr. Counsel
--------------------------------------------------------
Joyce Leslie, Inc. sought and obtained authority from the
Bankruptcy Court to employ Goldberg Weprin Finkel Goldstein LLP as
its Chapter 11 counsel.

The Debtor said Goldberg Weprin (together with its predecessor
firms) has continuously served as the Debtor's corporate counsel
since a prior Chapter 11 reorganization in or about 1975.  Most
recently, in 2014, Goldberg Weprin represented the Debtor in
connection with a successfully concluded forbearance agreement
entered into by the Debtor with its lead factoring creditors.
Following the forbearance, Goldberg Weprin has also worked with the
Debtor's financial consultants on strategies to restructure the
company as a prelude to the Chapter 11 filing and ensuing
negotiations with liquidators and other prospective lease
purchasers.   

Kevin J. Nash, member of Goldberg Weprin, disclosed that his firm
received a pre-petition retainer of $100,000 in advance of the
Chapter 11 filing.  Of this amount, $53,000 was expended for
prepetition services and expenses.  The balance of the retainer
will be applied to any interim or final compensation that may be
awarded by the Court.

The firm's current billing rates are:

     $495.00 for bankruptcy partner time,
     $250.00 - $425.00 for associate time, and
      $90.00 - $120.00 for paralegal time.

Mr. Nash attests that his firm is a "disinterested person" within
the meaning of Bankruptcy Code section 101(14), as modified by
Bankruptcy Code section 1107(b).

The firm may be reached at:

     Kevin J. Nash, Esq.
     Evan M. Lazerowitz, Esq.
     Goldberg Weprin Finkel Goldstein LLP
     1501 Broadway, 22nd Floor
     New York, NY 10036
     Telephone: (212) 221-5700
     Facsimile: (212) 221-6532

                       About Joyce Leslie

Joyce Leslie, Inc., operates a chain of 47 women's retail clothing
stores located throughout New York, New Jersey, Pennsylvania and
Connecticut.  It filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 16-22035) on Jan. 9, 2016.  The petition was
signed by Lee Diercks as chief restructuring officer.  The Debtor
disclosed total assets of $7 million and total debts of $9
million.

Judge Robert D. Drain has been assigned the case.

The Debtor has engaged Goldberg Weprin Finkel Goldstein LLP as
counsel, Clear Thinking Group as financial advisor, Oberon
Securities, LLC, as investment advisor, SB Capital Group LLC,
Tiger
Capital Group, LLC, and 360 Merchant Solutions, LLC, as
liquidation
agents and Rust Consulting/Omni Bankruptcy as claims and noticing
agent.

An official commitee of unsecured creditors has been appointed in
the case.


LATTICE INC: Obtains $375,000 Loan From Cantone Asset
-----------------------------------------------------
Lattice Incorporated disclosed in a Form 8-K filed with the
Securities and Exchange Commission it entered into a Loan and
Security Agreement with Cantone Asset Management LLC, a third party
lender, pursuant to which the Company issued a promissory note in
the aggregate principal amount $375,000 and received $356,250 in
gross proceeds (equivalent to a 5% original issue discount).  The
Company is also obligated to issue 600,000 shares of its common
stock to Cantone pursuant to the Loan Agreement, and paid Cantone
additional fees of approximately $3,000.  The Loan is secured by a
first priority security interest in certain of the Company's
components and work-in progress.

In connection with the Loan Agreement, the Company issued a
promissory note dated Feb. 26, 2016, bearing an interest rate of
14% per year.  The Note matures on the earlier of Aug. 26, 2016,
and the date that the Company receives payment from its customer
for the equipment purchased with the proceeds of the Note.  The
Note provides for customary events of default, including the
failure to pay any amount due under the Note on the applicable due
date (subject to a cure period), any default on any other
indebtedness by the Company, the Company becoming insolvent, or the
company filing for voluntary bankruptcy.  In the event of a
default, the interest rate on the Note would increase to 18% per
year and $37,500 would be added to the to the principal as a
penalty.  If the Company fails to make a payment within 10 days of
the due date, the Company would be obligated to pay a late charge
of 5% of the amount due.

                       About Lattice Inc.

Pennsauken, New Jersey-based Lattice Incorporated provides
telecommunications services to correctional facilities and
specialized telecommunication service providers in the United
States.

Lattice Inc. reported a net loss of $1.8 million on $8.94 million
of revenue for the year ended Dec. 31, 2014, compared to a net loss
of $1 million on $8.26 million of revenue in 2013.

As of Sept. 30, 2015, the Company had $4.88 million in total
assets, $8.84 million in total liabilities and a total
shareholders' deficit of $3.96 million.

Rosenberg Rich Baker Berman & Company, in Somerset, New Jersey,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2014, noting that
the Company has a working capital deficit and requires additional
working capital to meet its current liabilities.  The auditors said
these factors raise substantial doubt about the Company's ability
to continue as a going concern.


LEVEL 3 FINANCING: Fitch Gives BB Rating on Unsec. Notes Due 2026
-----------------------------------------------------------------
Fitch Ratings has assigned a 'BB/RR2' issue rating to Level 3
Financing, Inc.'s (Level 3 Financing) issuance of senior unsecured
notes due 2026. Level 3 Financing is a wholly owned subsidiary of
Level 3 Communications, Inc. (LVLT). The Issuer Default Rating
(IDR) for both LVLT and Level 3 Financing is 'BB-' with a Stable
Rating Outlook. LVLT had approximately $11 billion of consolidated
debt outstanding on Dec. 31, 2015.

Proceeds from the senior note offering are expected to be used to
redeem $775 million outstanding aggregate principal amount of Level
3 Financing's 7% senior notes due 2020. The notes currently have
$775 million aggregate principal amount outstanding. The new notes
will rank pari passu with Level 3 Financing's existing senior
unsecured indebtedness. Outside of the extension of the company's
maturity profile and an expected reduction of interest expense
related to this transaction, LVLT's credit profile has not
substantially changed.

KEY RATING DRIVERS

Leverage on Target: LVLT remains committed to deleveraging to the
low end of its target of between 3x to 4x net leverage. The
enhanced scale and ability to generate meaningful free cash flow
(FCF) resulting from TWTC reinforces Fitch's expectation for
further strengthening of LVLT's credit profile. The company's
leverage was 4.2x as of the latest 12 month (LTM) period ended Dec.
31, 2015 as the company is clearly operating within its net
leverage target. Fitch foresees LVLT leverage will further
strengthen during 2016 with leverage approximating 3.8x by year-end
2016.

Strengthening Credit Profile: LVLT's credit profile continues to
improve in line with Fitch's expectations as the company
capitalizes on its on-going revenue mix transformation, growing
high-margin core network services revenues, and the cost and
revenue benefits associated with the TWTC acquisition. Fitch
anticipates LVLT's credit profile will continue to strengthen over
the ratings horizon as the company benefits from anticipated EBITDA
growth, strong FCF generation and modest debt reduction.

Synergies Fuel Margin Expansion: The integration of TWTC is LVLT's
highest priority as an organization and the key integration and
synergy assumptions the company disclosed when the transaction was
announced remain unchanged. The company has realized cost synergies
faster than Fitch's expectations. Since the transaction closed,
Level 3 has achieved approximately $216 million of annualized run
rate EBITDA synergies through the end of 2015, which exceeds its
target of $140 million by the end of the first quarter of 2016
(1Q16) and $200 million total.

FCF Enhances Credit Profile: LVLT is poised to generate sustainable
levels of FCF (defined as cash flow from operations less capital
expenditures and dividends). Fitch believes the company's ability
to grow high-margin core network services (CNS) revenues coupled
with the strong operating leverage inherent in its operating
profile position the company to generate consistent levels of FCF.
Fitch anticipates LVLT FCF generation will exceed 11% of
consolidated revenues by year-end 2016 on a pro forma basis.

Revenue Mix Transformation Proceeding: LVLT's operating strategies
are aimed at shifting its revenue and customer focus to become a
predominantly enterprise-focused entity. The company's network
capabilities, in particular its strong metropolitan network along
with a broad product and service portfolio emphasizing IP-based
infrastructure and managed services, provide the company with a
solid base to grow its enterprise segment revenues.

Strong Operating Leverage: The products and services LVLT sells
combined with its strategy to sell services 'on net' enable the
company to generate significant operating leverage. At scale, the
services sold within this business segment generate 60% incremental
EBITDA margins. From Fitch's perspective, the company must be
successful in growing the CNS revenue base to improve its credit
profile and generate FCF.

Overall, Fitch's ratings incorporate LVLT's improving competitive
position while acknowledging its smaller market share and lack of
scale relative to larger and better capitalized market
participants. The ratings for LVLT reflect the company's strong
metropolitan network facilities position relative to alternative
carriers, as well as the diversity of its customer base and service
offering, and a relatively stable pricing environment for a
significant portion of its service portfolio.

Outside of material change to its financial strategy, ratings
concerns center on event-driven merger and acquisition activity and
the resultant increase in integration risks, and the sensitivity of
the company's operating profile to the effects of a weaker economic
outlook or a more competitive operating and pricing environment.
Fitch expects that M&A activity will remain a key component of
LVLT's overall growth strategy. M&A is expected to focus on
building incremental network and product capabilities and building
scale in Europe and Latin America.

Leverage and Financial Policy

The focus of LVLT's capital structure strategy is to strengthen the
company's overall credit profile and efficiently manage its
maturity profile. LVLT remains committed to deleveraging to the low
end of its target of between 3x and 4x on a net debt basis. The
pace of further deleveraging will largely depend on the company's
ability to leverage cost synergies and capitalize on incremental
EBITDA growth stemming from the positive operating momentum within
LVLT's CNS segment.

Total debt outstanding as of Dec. 31 2015 was approximately $11
billion, reflecting a modest 3% decline relative to the $11.4
billion of debt outstanding as of Dec. 31, 2014. LVLT's outstanding
debt materially increased during 2014 to facilitate the tw telecom
acquisition. Leverage as of the LTM period ended Dec. 31, 2015 was
4.2x and is expected to decrease to 3.8 by year-end 2016.

KEY ASSUMPTIONS

Fitch's key assumptions within its rating case include:

-- LVLT continues to optimize network expenses and leverage the
    cost synergies related to its acquisition of tw telecom.

-- CNS revenue growth ranging between 2% and 3% driven by
    continued strong growth within the company's North American
    Enterprise segment.

-- LVLT's network access margin (gross margin) growing to over
    67% by year-end 2017.

-- Capital expenditures will approximate 15% of consolidated
    revenues.

-- FCF generation exceeding 10% and 12% during years ended 2016
    and 2017, respectively.

-- Debt levels are expected to remain relatively consistent and
    Fitch anticipates that LVLT will repay the floating-rate notes

    due 2018 ($300 million outstanding Dec. 31, 2015) with
    available cash on hand.”

RATING SENSITIVITIES

What Could Lead to a Positive Rating Action:

Positive rating action would likely coincide with the expectation
that Level 3 will maintain leverage at 3.5x or lower while
consistently generating positive FCF with FCF/adjusted debt of 8%
or greater. Additionally the company will need to demonstrate
positive operating momentum characterized by consistent core
network services revenue growth, gross margin expansion, no
material delays in achieving anticipated cost synergies, and lack
of a material erosion of revenue churn.

What Could Lead to a Negative Rating Action:

Negative rating actions are more likely to coincide with a
perceived weakening of LVLT's operating profile, as signaled by
deteriorating margins and revenue erosion brought on by difficult
economic conditions or competitive pressure. Additionally, negative
rating actions could result from discretionary management decisions
including, but not limited to, execution of merger and acquisition
activity that increases leverage beyond 5x in the absence of a
credible deleveraging plan.

LIQUIDITY

LVLT reported $626 million of FCF generation during the LTM ended
Dec. 31, 2015. Based on public guidance, the company expects to
generate FCF ranging between $1.0 billion and $1.1 billion during
2016, which is in line with Fitch's expectations. Looking forward,
FCF generation should accelerate as integration costs diminish and
cost synergies materialize. Fitch anticipates LVLT FCF generation
will exceed 12% of consolidated revenues by year-end 2017. In
addition to LVLT's positive operating momentum driving EBITDA
growth, additional factors such as interest expense savings derived
from capital market activities and on-going operating cost
optimization efforts position the company to grow FCF during the
ratings horizon.

Fitch believes that LVLT's liquidity position is adequate given the
rating and that overall financial flexibility is enhanced with
positive FCF generation. The company's liquidity position was
primarily supported by cash carried on its balance sheet, which as
of Dec. 31, 2015 totaled approximately $854 million and expected
FCF generation. Importantly, there are no restrictions on the
company's ability to repatriate foreign cash (other than the
conversion and repatriation restrictions existing in Venezuela and
Argentina) to fund domestic operations including debt service. The
company does not maintain a revolver, which limits its financial
flexibility in Fitch's opinion.

LVLT's maturity profile is manageable within the context of FCF
generation expectations and access to capital markets. The company
does not have material scheduled maturities during the remainder of
2016, and the next scheduled maturity is not until 2018 when
approximately $300 million of debt is scheduled to mature.

FULL LIST OF RATING ACTIONS

Fitch currently rates LVLT as follows:

LVLT
-- IDR 'BB-';
-- Senior unsecured notes 'B+/RR5'.

Level 3 Financing, Inc.
-- IDR 'BB-';
-- Senior secured term loan 'BB+/RR1';
-- Senior unsecured notes 'BB/RR2'.

The Rating Outlook is Stable.


LEVEL 3 FINANCING: Moody's Assigns B1 Rating on New $500MM Notes
----------------------------------------------------------------
Moody's Investors Service assigned a B1 rating to Level 3
Financing, Inc.'s new $500 million senior unsecured notes issue and
changed Level 3 Communications, Inc.'s outlook to positive from
stable.  Financing is a wholly-owned subsidiary of Level 3
Communications, Inc., a publicly traded holding company that
guarantees Financing's notes, and, as the senior most company in
the Level 3 corporate family, is the entity at which Moody's
maintains corporate level ratings.  Level 3's Ba3 corporate family
rating and Ba3-PD probability of default rating (PDR) were affirmed
as was the company's SGL-2 speculative grade liquidity rating
(indicating good liquidity).  All existing debt instrument ratings
were affirmed at their existing ratings (refer to the ratings
listing below).

Proceeds from the new issue will be used to repay a like amount of
the Financing's $775 million B1-rated senior unsecured 7% notes
which mature in June 2020.  While the refinancing transaction is
credit positive because it extends the maturity to 2026 and reduces
interest expense, the transaction is ratings neutral because the
amount and structure of Level 3's debt remains unchanged.
Accordingly, the new notes are rated at the same B1 rating level as
the notes they replace.

The ratings outlook was changed to positive from stable because
Moody's expects that leverage of Debt/EBITDA will trend towards
3.75x through 2017 (4.5x at 31Dec15; Moody's adjusted gross
leverage).  "With both leverage and free cash generation continuing
to improve, there is the potential that within the next year or so,
we will be able to confidently anticipate Level 3's financial
profile justifying an upgrade," said Bill Wolfe, a Moody's senior
vice president.  Moody's had previously signaled that it would
consider positive ratings activity were it to expect Level 3's
leverage of Debt/EBITDA being sustained below 3.5x with Free Cash
Flow/Debt approaching 10%.  While year-end 2015 measures were 4.5x
and 5%, respectively, and it may be 2018 before the company reaches
the 3.5x and 10%, Wolfe indicated that "Momentum is solidly
positive as Level 3's strong performance continues subsequent to
the tw telecom acquisition".

This summarizes the rating actions and Level 3's ratings:

Issuer: Level 3 Communications, Inc.

  Corporate Family Rating, Affirmed at Ba3
  Probability of Default Rating, Affirmed at Ba3-PD
  Speculative Grade Liquidity Rating, Affirmed at SGL-2
  Outlook, Changed to Positive from Stable
  Senior Unsecured Regular Bond/Debenture, Affirmed at B2 (LGD6)

Issuer: Level 3 Financing, Inc.

  Senior Secured Bank Credit Facility, Affirmed at Ba1 (LGD2)
  Senior Unsecured Regular Bond/Debenture, Rated B1 (LGD5)
  Senior Unsecured Regular Bond/Debenture, Affirmed at B1 (LGD5)
  Outlook, Changed to Positive from Stable

Issuer: Level 3 Escrow II, Inc. (assumed by Level 3 Financing,
Inc.)

  Senior Unsecured Regular Bond/Debenture, Affirmed at B1 (LGD5)

                         RATINGS RATIONALE

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.  With the margin
improvement, Moody's anticipates leverage of Debt-to-EBITDA
approaching 3.75x in 2017, with Free Cash Flow-to-Debt approaching
9%. The rating is constrained by a lack of forwards earnings
visibility, off-market liquidity arrangements, and expectations
that the company's growth strategy will continue to feature
acquisitions and their attendant execution risks.  With the company
showing improved free cash generation, there is also the potential
of a dividend being initiated.

Level 3's liquidity is assessed as good, SGL-2, based on
expectations of free cash flow of about $1 billion over the next
year and the company having a December 31, 2015 cash balance of
$854 million.  Moody's expects a telecommunications company of
Level 3's stature to maintain liquidity of between 10% and 15% of
its revenues, indicating that Moody's views the entirety of the
company's cash position as being integral to its liquidity.  That
said, with no debt maturities until 2018 and with no financial
covenants to comply with, the combination of the cash on hand and
cash to be generated over the next year provide good liquidity.

Rating Outlook

The outlook is positive based on expectations leverage of
Debt/EBITDA trending towards 3.75x through 2017 (4.5x at Dec. 31,
2015).

What Could Change the Rating -- Up

  Continued solid operating performance and margin expansion
  Solid liquidity arrangements
  Leverage of Debt/EBITDA approaching 3.5x on a sustainable basis
   (4.5x at 31Dec15)
  Free Cash Flow/Debt approaching 10% on a sustainable basis (4.9%

   at Dec. 31, 2015)

What Could Change the Rating -- Down

  Debt/EBITDA sustained above 4.5x (4.5x at Dec. 31, 2015)
  Free Cash Flow/Debt sustained below 5% (4.9% at Dec. 31, 2015)
  Deteriorating business performance including elevated churn and
   integration set-backs
  Weaker liquidity arrangements

The principal methodology used in these ratings was Global
Telecommunications Industry published in December 2010.

                          Corporate Profile

Headquartered in Broomfield, Colorado, Level 3 Communications, Inc.
(Level 3) is a publicly traded international communications company
with one of the world's largest long-haul communications and
optical Internet backbones.  Level 3's 2016 revenue is expected to
be approximately $8.9 billion and annual (Moody's adjusted) EBITDA
to be $3.2 billion.


LEVEL 3 FINANCING: S&P Assigns 'B' Rating on $500MM Sr. Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' issue-level
rating and '6' recovery rating to Broomfield, Colo.-based
telecommunications provider Level 3 Communications Inc.'s proposed
$500 million senior unsecured notes due 2026.  The '6' recovery
rating reflects S&P's expectation for negligible (0%-10%) recovery
in the event of a payment default.  Wholly-owned subsidiary Level 3
Financing Inc. will issues the notes, and the company will use
proceeds to redeem a portion of its existing 7% senior notes due
2020.

S&P's 'BB-' corporate credit rating and positive outlook on Level 3
remain unchanged.  S&P do not expect the proposed notes to have an
impact on key credit measures, including adjusted leverage, which
S&P expects to be around the mid- to high-3x area, and funds from
operations to debt, which S&P expects to be 18%-20%.  S&P also
expects the company to generate solid free operating cash flow
during the year, approaching 10% of total operating lease adjusted
debt.

RATINGS LIST

Level 3 Communications Inc.
Corporate Credit Rating           BB-/Positive/--

New Rating

Level 3 Financing Inc.
$500 mil. notes due 2026
Senior Unsecured                  B
  Recovery Rating                  6



LIQUIDMETAL TECHNOLOGIES: Incurs $7.31 Million Net Loss in 2015
---------------------------------------------------------------
Liquidmetal Technologies, Inc., filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss and comprehensive loss of $7.31 million on $125,000 of total
revenue for the year ended Dec. 31, 2015, compared to a net loss
and comprehensive loss of $6.55 million on $603,000 of total
revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $7.27 million in total assets,
$2.88 million in total liabilities and $4.38 million in total
shareholders' equity.

SingerLewak LLP, in Los Angeles, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, stating 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.

As of Dec. 31, 2015, the Company's cash and restricted cash balance
was $4.78 million which consisted of $2.77 million of cash and $2
million of short-term restricted cash.  The Company said it will
need to raise funds during 2016 to be able to continue its
operations beyond 2016.

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

                     http://is.gd/yFazuj

                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.


MARVELL TECHNOLOGY: Seeks Extension of Nasdaq Listing Compliance
----------------------------------------------------------------
Marvell Technology Group Ltd. on March 8 disclosed that, as a
result of the previously announced delayed filings of its Forms
10-Q for the second and third quarters of fiscal 2016, Marvell
received notice that the Listing Qualifications Staff of The NASDAQ
Stock Market LLC ("Nasdaq") had determined that Marvell will not
meet the terms of the previously granted extension, which expires
on March 8, 2016, and by which date Marvell was required to
evidence compliance with Nasdaq Listing Rule 5250(c)(1), which
requires the timely filing of all required periodic reports with
the SEC.

Marvell intends to request a hearing before the Nasdaq Hearings
Panel (the "Panel") on or before March 11, 2016 to request a
further extension.  The Panel has the authority to grant Marvell an
extension of up to 360 days from the due date of the first missed
periodic report, or September 5, 2016.  Such request will
automatically stay any suspension or delisting action until March
28, 2016, and the Company will request a further stay of any
suspension or delisting action pending the issuance of the Panel
decision following the hearing.  The Panel will notify Marvell no
later than March 28, 2016 whether its request for a stay of
suspension or delisting action pending the hearing has been
granted.  Marvell is working diligently to complete and file the
Forms 10-Q as soon as possible.

                         About Marvell

Marvell (NASDAQ: MRVL) -- http://www.Marvell.com-- is a global
provider of complete silicon solutions and Kinoma software enabling
the "Smart Life and Smart Lifestyle."  From storage to Internet of
Things (IoT), cloud infrastructure, digital entertainment and
in-home content delivery, Marvell's diverse product portfolio
aligns complete platform designs with industry-leading performance,
security, reliability and efficiency.


METROPOLITAN AUTOMOTIVE: Files Schedules of Assets & Liabilities
----------------------------------------------------------------
Metropolitan Automotive Warehouse, Inc., filed with the U.S.
Bankruptcy Court for Central District of California its schedules
of assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                  $154,423
  B. Personal Property           $40,971,033
  C. Property Claimed as
     Exempt
  D. Creditors Holding                             
     Secured Claims                                $3,287,726      
  
  E. Creditors Holding
     Unsecured Priority
     Claims                                          $691,217
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                       $78,401,972
                                 -----------      -----------
        Total                    $41,125,456      $82,380,916

A copy of the Schedules is available for free at:

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

               About Metropolitan Automotive

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

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

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

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



METROPOLITAN AUTOMOTIVE: Gets Court OK to Retain Pachulski as CRO
-----------------------------------------------------------------
Judge Wayne Johnson has granted Metropolitan Automotive Warehouse,
Inc.'s motion to retain Richard Pachulski as its chief
restructuring officer nunc pro tunc to the Petition Date.

Before the ruling was entered, the Debtor was able to address
objections and concerns to the CRO Motion, specifically from the
U.S. Trustee and the Official Committee of Unsecured Creditors.

In mid-January 2016, the Debtor filed a supplement to the CRO
Motion, which points to the addition of a "termination provision"
to the revised Engagement Contract.  Under the termination
provision, (i) Mr. Pachulski as CRO may only be terminated by the
Debtor for cause pursuant to a Court order; (ii) Mr. Pachulski's
services may be terminated by him, at will, effective on no less
than 30 days following filing of a written notice in the cases; and
(iii) The Engagement Contract shall be terminated on (a) the
conversion of the bankruptcy case to case under Chapter 7 or (b)
the appointment of a trustee.

Subsequently, Peter C. Anderson, the U.S. Trustee for Region 16,
filed an objection to the CRO Motion, asserting that there is no
evidence in the record that Mr. Pachulski, much less other
employees at his law firm, Pachulski, Stang, Ziehl & Jones LLP,
have specialized knowledge pertaining to auto part businesses.  The
U.S. Trustee also objected to the termination provision.

In late January 2016, subsidiary to the Debtor, Star Auto Parts,
Inc. filed in its own bankruptcy case a Second Supplement to the
CRO Motion.  A redlined copy of the revised Engagement Contract was
attached to the Second Supplement.  Among other things, the
redlined document noted that:

  -- Teddy Kapur of PSZJ was named as whose services may be
     tapped to assist Mr. Pachulski as CRO.  Mr. Kapur's hourly
     rate is $595.

  -- The Creditors Committee will be consulted on a real-time
     basis regarding significant developments and issues in
     connection with the services of the CRO.

  -- The Creditors Committee will be afforded time to review and
     object to each monthly statement provided by Pachulski.

Furthermore, under the Second Supplement, a noticed motion
establishing cause to terminate the CRO services is no longer
required.  Rather, the Debtors may terminate Mr. Pachulski on three
days' written notice, without the need for a motion.

Satisfied with the Revised CRO Contract, the Creditors Committee
filed a Joinder supporting approval of the CRO Motion. The
Committee said it has negotiated in good faith its concerns of the
CRO Retention, and the Revised CRO Contract is the result of those
negotiations.

For its part, the Debtor filed a reply, maintaining that the U.S.
Trustee's objections largely arise from a misunderstanding of the
terms of the engagement, and/or misplaced.  Mr. Pachulski will not
be drafting a plan nor performing legal services, rather, he as CRO
will be involved in the business and strategic aspects of plan
formulation, the Debtors clarify.

Subsequently, the U.S. Trustee filed another statement saying that
he will not oppose the CRO Motion based on the Debtor's
representation that it will revise the Amended Engagement Contract
to eliminate the ability of Mr. Pachulski to delegate the
performance of any CRO duties to any professionals employed by
PSZJ.

Garrick A. Hollander, Esq., and Peter W. Lianides, Esq. of Winthrop
Couchot, represent the Debtor.

Jeffrey E. Bjork, Esq., Christina M. Craige, Esq. and Helena G.
Tseregounis, Esq., of Sidley Austin LLP, in Los Angeles,
California, represent the Creditors Committee.
  
                   About Metropolitan Automotive

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

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

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

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


METROPOLITAN AUTOMOTIVE: Hires Winthrop Couchot as Gen. Counsel
---------------------------------------------------------------
Judge Wayne Johnson of the California Bankruptcy Court granted
Metropolitan Automotive Warehouse, Inc.'s request to hire Winthrop
Couchot P.C. as its general insolvency counsel effective as of Jan.
6, 2016.

As general insolvency counsel, the Firm will, among other things:

  1. advise and assist the Debtors with respect to compliance
     with the requirements of the Office of the U.S. Trustee;

  2. advise the Debtors regarding matters of bankruptcy law;

  3. represent the Debtors in Court hearings;

  4. conduct examination of witnesses, claimants, or adverse
     parties, and prepare and assist the Debtors in the
     preparation of reports, accounts and pleadings;

  5. review claims filed in the Debtors' cases; and

  6. assist the Debtors in the negotiation, formulation,  
     confirmation and implementation of a joint Chapter 11 plan.

The Firm will render services to the Debtors at its regular hourly
rates, which are:

     Attorneys                  Hourly Rates
     ---------                  ------------
     Marc J. Winthrop               $750
     Robert E. Opera                 750
     Sean A. O'Keefe, Of Counsel     750
     Paul J. Couchot                 750
     Richard H. Golubow              595
     Peter W. Lianides               595
     Garrick A. Hollander            595
     Andrew Levin                    395
     Jeannie Kim                     375

     Legal Assistants
     ----------------                  
     P.J. Marksbury                  270
     Legal Assistant Associates      150

The Firm is authorized for six months from the Petition Date to be
paid on a monthly basis in an amount equal to 80% of its fees and
100% of its costs, pursuant to the monthly payment procedures set
forth in the Employment Application.  Thereafter, the Firm may seek
an order from the Court extending the six-month period by which the
Firm may be paid monthly fees and costs.

The monthly payment procedures have these terms:

  1. The Retainer will be held in the Firm's client trust account.
No disbursements will be made from the Retainer, except on the
Firm's compliance with the procedures set.

  2. The Firm will file a copy of its montly billing statements
itemizing fees and costs it incurred on behalf of the Debtors
during the preceeding month; and will serve copies to the Debtors,
the U.S. Trustee and the notice parties.

  3. If no objection is filed within 10 days after service of the
Professional Fee Statement, the Firm will withdraw from its trust
account the amount of fees and costs indicated in the Fee
Statement.  If the Retainer has been exhausted, the Debtors may pay
the Firm the fees and costs.  If a written objection is filed, the
Firm will refrain from withdrawing the amount until the objection
is resolved.  The Firm however may be paid any undisputed amount of
fees and costs indicated in the Fee Statement.

  4. No fees or costs of the Firm will be deemed to be allowed,
except only pursuant to an order of the Court with respect to a fee
application filed by the Firm after notice and a hearing.

The Firm has conducted a conflicts check on the Debtors' creditors.
Accordingly, the Firm maintains that it does not hold or represent
any interest adverse to the Debtors or their Chapter 11 cases and
is thus "disinterested" pursuant to Section 101(14) of the
Bankruptcy Code.

The Firm can be contacted at:

     WINTHROP COUCHOT PROFESSIONAL CORPORATION
     Garrick A. Hollander, Esq.
     Richard H. Golubow, Esq.
     Jeannie Kim, Esq.
     660 Newport Center Drive, Fourth Floor
     Newport Beach, CA 92660
     Telephone: (949) 720-4100
     Facsimile: (949) 720-4111
     E-mail: ghollander@winthropcouchot.com
             rgolubow@winthropcouchot.com
             jkim@winthropcouchot.com

            About Metropolitan Automotive

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

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

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


METROPOLITAN AUTOMOTIVE: Stipulates With UST Over Winthrop Fees
---------------------------------------------------------------
Metropolitan Automotive Inc. entered into a stipulation with its
subsidiary, Star Auto Parts, Inc., and Peter C. Anderson, the U.S.
Trustee for Region 16, regarding the employment of Winthrop Couchot
as general insolvency counsel.

The U.S. Trustee has advised Winthrop that it believes that a
"holdback" of 20% of the Firm's accrued fees is appropriate until
such time as Winthrop applies to and obtains authorization from the
Court for approval of interim and/or final compensation.

The U.S. Trustee has also advised Winthrop that the U.S. Trustee
initially believes that the Debtors' bankruptcy cases are subject
to specialized U.S. Trustee Guidelines for the review of Fee
Applications in Chapter 11 cases with $50 million or more in assets
and $50 million or more in liabilities (Appendix B Guidelines).  

To resolve any dispute and litigation relating to the Winthrop
employment, the parties stipulate that:

  1. Until and unless Winthrop applies to and obtains Court
     authorization for payment of its fees and costs, in using the

     monthly payment procedures described in the Winthrop
     Employment Application, Winthrop will be entitled to 80% of
     its fees and 100% of its costs; and

  2. Winthrop agrees to comply with the Appendix B Guidelines.

            About Metropolitan Automotive

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

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

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

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


MID-STATES SUPPLY: Required by Lender to Complete Sale by April 15
------------------------------------------------------------------
Judge Cynthia A Norton on Feb. 26, 2016, entered a second interim
order approving Mid-States Supply Company, Inc.'s proposed $20
million DIP financing from existing lender Wells Fargo Bank,
National Association.  The final hearing to approve the DIP
facility is scheduled for March 14, 2016, at 9:30 a.m. (Central
time).  Objections to entry of a Final Order are due March 11.

The Second Interim Order provides that the revolving advances made
and the letters of credit issued under the DIP Facility will
terminate on the earliest of:

     (i) April 24, 2016,

    (ii) the closing of a sale of all or substantially all of
         the assets of the Debtor pursuant to a sale under
         section 363 of the Bankruptcy Code,

   (iii) the date on which the Debtor's plan of reorganization
         becomes effective, or

    (iv) the occurrence of an Event of Default (as such term
         is defined in the Credit Agreement).

The Events of Default contained in the Credit Agreement include,
but are not limited to the Debtor's failure to satisfy the
following milestones in the Case:

     (a) By no later than Feb. 16, 2016, the Debtor shall file
         a motion with the Bankruptcy Court seeking authorization
         to sell substantially all of its assets and seeking
         approval of bidding and sale procedures therefor (which
         motion will be in form and substance satisfactory to
         Lender);

     (b) By no later than March 14, 2016, a bid procedures Order
         (in form and substance satisfactory to Lender) shall be
         entered by the Bankruptcy Court;

     (c) By no later than March 11, 2016, the Debtor shall have
         entered into a definitive asset purchase agreement with
         a prospective purchaser in form and substance
         satisfactory Lender;

     (d) By no later than April 11, 2016, a sale hearing shall
         be held and a sale order entered by the Bankruptcy Court
         approving such sale under Section 363 of the Bankruptcy
         Code (in form and substance acceptable to Lender); and

     (e) By no later than April 15, 2016, the sale of
         substantially all of Debtor's assets shall be
         consummated.

A copy of the Second Interim Order is available for free at:

  http://bankrupt.com/misc/Mid_States_S_135_2nd_Int_DIP_Order.pdf

                  About Mid-States Supply Company

Founded and headquartered in Kansas City, Missouri, Mid-States
Supply Company, Inc., is a supplier of pipes, valves and fittings
to ethanol, pipeline and power industries in the United States.

Mid-States Supply Company filed a Chapter 11 bankruptcy petition
(Bankr. W.D. Mo. Case No. 16-40271) on Feb. 7, 2016, to pursue a
sale of substantially all assets.  The petition was signed by
Stuart Noyes, the chief restructuring officer.  

The Debtor estimated both assets and liabilities in the range of
$50 million to $100 million.

The Debtor has engaged Spencer Fane LLP as counsel; Winter Harbor
LLC as financial advisor; Tarsus CFO Services, LLC as chief
financial officer services provider; and Epiq Bankruptcy
Solutions,
LLC as claims and noticing agent.  The Debtor also tapped SSG
Advisors, LLC and Frontier Investment Banc Corporation as
investment bankers,

On Feb. 12, 2016, the Office of the United States Trustee
appointed
an Official Committee of Unsecured Creditors to represent the
interests of all unsecured creditors in this Case pursuant to
Section 1102 of the Bankruptcy Code.  The Committee tapped Gardere
Wynne Sewell LLP as counsel.


MISSISSIPPI PHOSPHATES: UCC Bid for Standing Unopposed, Approved
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Mississippi
Phosphates Corporation, et al., received approval of its unopposed
motion for standing on behalf of the estate related to any dispute
the Debtor has regarding the Mississippi Public Service Commission
and Mississippi Power Company.  The motion was approved by Judge
Katharine M. Samson on Feb. 29, 2016.

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.

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, AL 36602
     Telephone: (251) 344-5151
     Facsimile: (251) 344-9696
     E-mail: bcreswell@burr.com
            ksparks@burr.com

         - and -

     Derek M. Meek, Esq.
     Marc P. Solomon, Esq.
     BURR & FORMAN, LLP
     420 North 20th Street
     Birmingham, AL 35203
     Telephone: (205) 251-3000
     Facsimile: (205) 458-5100
     E-mail: 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.


NCR CORP: $250MM Share Repurchase No Impact on Moody's Ba3 CFR
--------------------------------------------------------------
Moody's Investors Service says that NCR Corporation's announced
$250 million additional share repurchase does not impact its Ba3
CFR rating or stable outlook.  Although Moody's expects that the
share repurchase will increase leverage modestly, NCR's rating
already considers its willingness to take on incremental credit
risk to finance shareholder returns as the company undergoes a
business transformation amid a rapidly shifting landscape for
legacy hardware products.  Significantly larger shareholder
friendly activities may endanger the rating and/or the outlook,
especially if operating performance does not improve as
anticipated, the company loses market share in key business
segments, or there is a deterioration in NCR's competitive
position.


NEW LOUISIANA: March 15 Hearing to Estimate Tort Claims
-------------------------------------------------------
A U.S. bankruptcy court is set to hear a motion filed by New
Louisiana Holdings LLC to approve a memorandum of understanding to
estimate tort claims.

The U.S. Bankruptcy Court for the Western District of Louisiana
will take up the motion at a hearing on March 15.

CHG Legacy Group LLC, an affiliate of New Louisiana, entered into a
memorandum of understanding with a group of creditors to estimate
their tort claims solely for the purpose of voting on a bankruptcy
plan, which is yet to be filed by the holdings company.

The creditors filed claims for damages they allegedly sustained
while they were residents at various skilled nursing facilities
operated by New Louisiana and its affiliates.  The creditors,
together, assert $500 million, according to court filings.

Pursuant to the MOU, an entity to be formed by insiders of the
companies will pay the creditors to settle their tort claims in
return for an assignment of those claims.  

The settlement is expected to facilitate a plan, which New
Louisiana has been negotiating with the official committee of
unsecured creditors, according to court filings.

The tort claimants, represented by Wilkes & McHugh P.A., had
earlier defended the settlement against criticism from the
unsecured creditors' committee that the tort claims will not be
extinguished by the settlement.

"The [committee's] concerns are not properly raised as an objection
to a settlement of non-debtor claims using strictly non-debtor
funds," the Florida-based law firm said in a court filing.

According to Wilkes, the committee should raise its concerns during
a court hearing to consider approval of a bankruptcy plan.

                   About New Louisiana Holdings

New Louisiana Holdings LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), on June
25, 2014.

Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (Case
No. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium at
Lafreniere Assisted Living (Case No. 14-50851), Citiscape 5010
Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853), Lakewood
Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854), Lakewood
Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855), Panola 501
Partners, LP (Case No. 14-50862), Regency 14333 Tenant, LLC (Case
No. 14-50861), Retirement Center 14686 Tenant, LLC (Case No.
14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.
Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village
5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcy
petitions on July 16, 2014.

Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC
(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No.
14-50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PG
Gainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (Case
No. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG North
Miami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No.
14-50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.
Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.
14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero Beach
LLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No.
14-50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filed
separate Chapter 11 bankruptcy petitions on July 28, 2014.

Four more affiliates of New Louisiana -- CHC-CLP Operator Holding
LLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-51101),
SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC (Case No.
14-51103) -- that operate skilled nursing facilities located in
Lakeland, Clewiston and St. Peterburg, Florida, sought protection
under Chapter 11 of the Bankruptcy Code on Sept. 3, 2014.

The Chapter 11 cases are jointly consolidated with New Louisiana's
Chapter 11 case at Case No. 14-50756 before Judge Robert Summerhays
of the United States Bankruptcy Court for the Western District of
Louisiana (Lafayette).

The Debtors are represented by Patrick J. Neligan, Jr., Esq., at
Neligan Foley LLP, in Dallas, Texas.  Jan M. Hayden and Baker
Donelson Bearman Caldwell & Berkowitz, P.C. serves as local
counsel.

The U.S. Trustee for Region 5 on Oct. 3, 2014, appointed three
creditors of New Louisiana Holdings, LLC, to serve on the official
committee of unsecured creditors.  Pepper Hamilton LLP and
McGlinchey Stafford PLLC serve as counsel to the Committee.


NEW LOUISIANA: March 15 Hearing to Extend Plan Filing Date
----------------------------------------------------------
A U.S. bankruptcy court is set to hear a motion filed by New
Louisiana Holdings LLC to further extend its exclusive right to
propose a bankruptcy plan.

The U.S. Bankruptcy Court for the Western District of Louisiana
will take up the motion at a hearing on March 15.

Early last month, the court issued an order that extended the
company's exclusive right to file a bankruptcy plan to March 15,
and to solicit votes from creditors to June 15.  

The extension, if approved, would prevent others from filing rival
plans in court and maintain New Louisiana's control over its
bankruptcy case.

                   About New Louisiana Holdings

New Louisiana Holdings LLC, sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. W.D. La. Case No. 14-50756), on June
25, 2014.

Ten affiliates of New Louisiana -- Acadian 4005 Tenant, LLC (Case
No. 14-50850), Atrium 6555 Tenant, LLC, dba The Atrium at
Lafreniere Assisted Living (Case No. 14-50851), Citiscape 5010
Tenant, LLC, dba Citiscape Apartments (Case No. 14-50853), Lakewood
Quarters Assisted 8585 Tenant, LLC (Case No. 14-50854), Lakewood
Quarters Rehab 8225 Tenant, LLC (Case No. 14-50855), Panola 501
Partners, LP (Case No. 14-50862), Regency 14333 Tenant, LLC (Case
No. 14-50861), Retirement Center 14686 Tenant, LLC (Case No.
14-50856), Sherwood 2828 Tenant, LLC (Case No. 14-50857), St.
Charles 1539 Tenant, LLC (Case No. 14-50858) and Woodland Village
5301 Tenant, LLC (Case No. 14-50859) filed Chapter 11 bankruptcy
petitions on July 16, 2014.

Fifteen additional affiliates of New Louisiana -- SA-PG Ocala LLC
(Case No. 14-50909), SA-PG Operator Holdings LLC (Case No.
14-50912), SA-PG Clearwater LLC (Case No. 14-50913), SA-PG
Gainesville LLC (Case No. 14-50914), SA-PG Jacksonville LLC (Case
No. 14-50915), SA-PG Largo LLC (Case No. 14-50916), SA-PG North
Miami LLC (Case No. 14-50917), SA-PG Orlando LLC (Case No.
14-50918), SA-PG Pinellas LLC (Case No. 14-50919), SA-PG Port St.
Lucie LLC (Case No. 14-50920), SA-PG Sun City Center LLC (Case No.
14-50921), SA-PG Tampa LLC (Case No. 14-50922), SA-PG Vero Beach
LLC (Case No. 14-50923), SA-PG West Palm Beach LLC (Case No.
14-50924) and SA-PG Winterhaven LLC (Case No. 14-50925) filed
separate Chapter 11 bankruptcy petitions on July 28, 2014.

Four more affiliates of New Louisiana -- CHC-CLP Operator Holding
LLC (Case No. 14-51104), SA-St. Petersburg LLC (Case No. 14-51101),
SA-Clewiston LLC (Case No. 14-51102) and SA-Lakeland LLC (Case No.
14-51103) -- that operate skilled nursing facilities located in
Lakeland, Clewiston and St. Peterburg, Florida, sought protection
under Chapter 11 of the Bankruptcy Code on Sept. 3, 2014.

The Chapter 11 cases are jointly consolidated with New Louisiana's
Chapter 11 case at Case No. 14-50756 before Judge Robert Summerhays
of the United States Bankruptcy Court for the Western District of
Louisiana (Lafayette).

The Debtors are represented by Patrick J. Neligan, Jr., Esq., at
Neligan Foley LLP, in Dallas, Texas.  Jan M. Hayden and Baker
Donelson Bearman Caldwell & Berkowitz, P.C. serves as local
counsel.

The U.S. Trustee for Region 5 on Oct. 3, 2014, appointed three
creditors of New Louisiana Holdings, LLC, to serve on the official
committee of unsecured creditors.  Pepper Hamilton LLP and
McGlinchey Stafford PLLC serve as counsel to the Committee.


NEW YORK LIGHT: Amended Order on Premium Financing Deals Entered
----------------------------------------------------------------
The Hon. Robert E. Littlefield, Jr., of the U.S. Bankruptcy Court
for the Northern District of New York entered an amended final
order in connection with New York Light Energy, LLC, et al.'s
motion to honor their prepetition insurance premium financing
agreements, and enter into new premium financing agreements in the
ordinary course of business.  The Court on May 28, 2015, entered an
interim order and on June 10, 2015, a final order granting the
Motion.  At the behest of the Debtors, the Court on Feb. 26, 2016,
entered an amended final order to specify that:

   a. Pursuant to Bankruptcy Code section 364(c), the Debtors are
authorized to grant to IPFS and any other applicable premium
insurance financing company a first priority security interest in
its Policies including, to the extent permitted by applicable law:
(i) all money that is or may become due under its current or future
Agreements because of a loss under the Policies that reduces
unearned premiums (subject to the interest of any applicable
mortgagee or loss payee); (ii) any return of premiums or unearned
premiums under the Policies; and (iii) any dividends that may
become due the Debtors in connection with the Policies; and

   b. In the event that any of the Debtors defaults under the terms
of the current or future Agreements, IPFS may, in accordance with
the terms of the Agreement, and without further order of the Court,
cancel the Policies listed in the Agreement or agreement thereto
and receive and apply the unearned or return premiums to the
account of the Debtor; and

   c. Notwithstanding anything to the contrary contained in any
Order approving secured financing in these cases, security interest
in the Policies granted under the Agreements shall be senior to any
security interests and/or liens granted to any other secured
creditors in the Debtor's case.

                   About New York Light Energy

Founded in 2009 and based in Latham, New York, New York Light
Energy, LLC, designs and installs medium-scale solar arrays in New
York State and Massachusetts.  The Company has installed solar
arrays on more than 180 industrial, commercial, municipal, and
residential sites, with a total of over 15 megawatts of capacity
to date.

NYLE and its affiliates commenced Chapter 11 bankruptcy cases
(Bankr. N.D.N.Y. Lead Case No. 15-11121) in Albany, New York, on
May 27, 2015.  Judge Robert E. Littlefield Jr. is assigned to the
cases.

The Debtors tapped Bond, Schoeneck & King, PLLC, as counsel.

The U.S. Trustee for Region 2, appointed three creditors to serve
in an Official Committee of Unsecured Creditors in the Chapter 11
cases of New York Light Energy, LLC, et al.  The Committee retains
Hodgson Russ LLP as its attorneys and Emerald Capital Advisors
Corp. as financial advisor.


NEW YORK LIGHT: Has Access to Cash Collateral Until June
--------------------------------------------------------
Judge Robert E. Littlefield, Jr., entered a final order approving a
stipulation between New York Light Energy, LLC, and Light Energy
Installers, LLC -- Debtor Guarantors -- and lender Manufacturers
and Traders Trust Company that authorizes the Debtor Guarantors to
use the Lender's cash collateral.  The Debtor Guarantors are
authorized to incur postpetition indebtedness to the limited extent
that advances made by the Lender to Light Energy Fund, III. LP,
(including the Bridge Loan Term Note in the principal amount of
$8,030,000) will be secured, covered, and included within the scope
of repayment of the Debtor Guaranties, the Debtor Security
Agreements, and the Postpetition Energy Lien.  If a plan of
reorganization has not been confirmed, a hearing will commence at
the term of the Court to be held on June 22, 2016, at 10:30 a.m.,
at which the Court will consider its approval of any further
stipulation or agreement which might be executed by and between
Debtor Guarantors and the Lender to which the Expiration Date or
any other provisions would be amended or modified.  If a Renewal
Stipulation is executed between the Debtor and the Lender, it must
be filed with the Court on or before June 1, 2016.  Objections to a
Renewal Stipulation are due June 15, 2016.  A copy of the Final
Cash Order is available for free at:

     http://bankrupt.com/misc/NY_Light_296_Final_Cash_Ord.pdf

                   About New York Light Energy

Founded in 2009 and based in Latham, New York, New York Light
Energy, LLC, designs and installs medium-scale solar arrays in New
York State and Massachusetts.  The Company has installed solar
arrays on more than 180 industrial, commercial, municipal, and
residential sites, with a total of over 15 megawatts of capacity
to date.

NYLE and its affiliates commenced Chapter 11 bankruptcy cases
(Bankr. N.D.N.Y. Lead Case No. 15-11121) in Albany, New York, on
May 27, 2015.  Judge Robert E. Littlefield Jr. is assigned to the
cases.

The Debtors tapped Bond, Schoeneck & King, PLLC, as counsel.

The U.S. Trustee for Region 2, appointed three creditors to serve
in an Official Committee of Unsecured Creditors in the Chapter 11
cases of New York Light Energy, LLC, et al.  The Committee retains
Hodgson Russ LLP as its attorneys and Emerald Capital Advisors
Corp. as financial advisor.


O.W. BUNKER: Liquidation Plans Declared Effective
-------------------------------------------------
O.W. Bunker Holding North America Inc., and its debtor-affiliates
announced that their First Modified Liquidation Plans became
effective on Jan. 4, 2016.  The Court approved the Disclosure
Statement in October and confirmed the First Modified Plan in
December 2015.  The U.S. Trustee's objections to the releases of
claims and causes of action were overruled.  The Plan sets up two
trusts to liquidate the assets of the North American businesses and
repay part of the nearly $100 million creditors are owed.  A copy
of the Confirmation Order is available for free at:

      http://bankrupt.com/misc/OW_Bunker_1279_Plan_Conf_Ord.pdf

                         About O.W. Bunker

OW Bunker AS is a global marine fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.ne fuel (bunker) company founded in
Denmark.  The company declared bankruptcy on Nov. 7, 2014,
following its admission that it had lost US$275 million through a
combination of fraud committed by senior executives at its
Singaporean unit.

The Danish company placed its U.S. subsidiaries -- O.W. Bunker
Holding North America Inc., O.W. Bunker North America Inc. and
O.W. Bunker USA Inc. -- in Chapter 11 bankruptcy (Bankr. D. Conn.
Case Nos. 14-51720 to 14-51722) in Bridgeport, Conn., on Nov. 13,
2014.

The U.S. cases are assigned to Judge Alan H.W. Shiff.  The U.S.
Debtors have tapped Patrick M. Birney, Esq., and Michael R.
Enright, Esq., at Robinson & Cole LLP, as counsel.   McCracken,
Walker & Rhoads LLP is serving as co-counsel.  Alvarez & Marsal is
the financial advisor.

                           *     *     *

The Debtors' Liquidation Plan was confirmed on Dec. 15, 2015, and
was declared effective Jan. 4, 2016.  Final fee applications were
due 45 days after the Effective Date, and rejection damages claims
were due 30 days after entry of the Confirmation Order.


OMINTO INC: Posts $2 Million Net Loss During Dec. 2015 Quarter
--------------------------------------------------------------
Bellevue, Wash.-based Ominto, Inc., reported revenues of $5,432,229
for the fiscal first quarter ended December 31, 2015, from
$4,746,129 in revenues during the same period in 2014.

The Company said net loss spiked up to $2,003,765 during the
quarter from $1,143,902 during the same period in 2014.

At Dec. 31, 2015, the Company had total assets of $9,879,619
against total liabilities of $14,996,622, and stockholders' deficit
of $5,117,003.

"We have incurred substantial losses through December 31, 2015. We
experienced negative net cash flows from our operating activities
of approximately $2.4 million and $5.2 million for the three months
ended December 31, 2015 and the fiscal year ended September 30,
2015, respectively. We will require additional financing to meet
our working capital and capital expenditures requirements. We can
provide no assurance that such additional financing will be
available in an amount or on terms acceptable to us. If we are
unable to obtain additional funds when they are needed or if such
funds cannot be obtained on terms acceptable to us, we will be
unable to execute upon our business plan and fund operations, which
could have a material, adverse effect on our business, financial
condition and results of operations," the Company said.

"Our financial statements for the fiscal year ended September 30,
2015 were prepared assuming that we will continue as a going
concern. We have incurred losses since our inception. We do not
have sufficient cash to fund normal operations and meet debt
obligations for the next twelve months without deferring payment on
certain current liabilities and raising additional funds. For the
fiscal year ended September 30, 2015 we incurred a loss from
continuing operations of $12.2 million and had negative cash flows
from continuing operations of $5.2 million. We had an accumulated
deficit for the period from our inception through September 30,
2015 of approximately $49.3 million. As a result, we had a working
capital deficit of approximately $10.7 million as of September 30,
2015. These factors raise substantial doubt about our ability to
continue as a going concern."

Ominto explained that its ability to continue as a going concern is
dependent on its ability to raise capital to fund future operations
and working capital requirements, and its ability to profitably
execute its business plan.

"Our plans for the long-term return to and continuation as a going
concern include financing our future operations through sales of
our common stock and/or debt and the eventual profitable operation
of our business. The consolidated financial statements do not
include any adjustments that might be necessary should the Company
be unable to continue as a going concern," it said.

"We continue to update our product offerings, which places
additional demands on future cash flows and may decrease liquidity.
Our future liquidity and capital requirements will depend on
numerous factors including market acceptance of our future
products, revenues generated from our operations, the impact of
competitive product offerings, and whether we are successful in
acquiring additional customers on a large scale basis through
partners. We also intend to increase our efforts to recruit BAs
which we expect will improve sales of our e-commerce products.
These efforts will place additional demands on our cash flows and
liquidity. We cannot offer any assurance that we will be successful
in generating revenues from operations, adequately dealing with
competitive pressures, acquiring complementary products,
technologies, or businesses, or increase our marketing efforts."

Because of constraints on its sources of capital and liquidity
needs, the Company disclosed it has continued to borrow from
Michael Hansen, its founder, a director, and its current Executive
Vice President of Development, to fund operations. As of December
31, 2015, it owed Mr. Hansen a total of approximately $0.4 million
in advances.  On January 8, 2016, the Company paid Mr. Hansen the
remaining balance of outstanding advances.

Subsequent to December 31, 2015, the Company sold 26,533 shares of
common stock at $8.00 per share for total cash consideration of
$0.2 million to a private investor.  The Company did not identify
the investor.

"Beginning in January 2016, we implemented a series of changes to
streamline our organization and reduce monthly operating expenses.
Our efforts focused on reducing staffing costs, transferring
certain functions to lower cost locations, consolidating our
operations to fewer locations, and reducing our efforts on
activities not related to our core operations. These changes were
designed to conserve our resources and allow for continued
investment in the completion and launch of our new Ominto.com and
its related DubLi.com technology platform. We expect the launch of
this platform will provide an opportunity for the Company to grow
its revenue and improve the profit potential of its operations,"
the Company said.

Bellevue, Wash.-based Ominto, Inc., is a global e-commerce cash
back and network marketing company which operates a worldwide
shopping portal.  It markets membership subscriptions directly to
consumers and through partner programs and its network marketing
subsidiary.


PARC ENGLAND: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Parc England Holding, LLC
          d/b/a Parc England Hotel and
          d/b/a Bistro on the Bayou
        1321 Chappie James Avenue
        Alexandria, LA 71303

Case No.: 16-80255

Chapter 11 Petition Date: March 8, 2016

Court: United States Bankruptcy Court
       Western District of Louisiana (Alexandria)

Judge: Hon. John W. Kolwe

Debtor's Counsel: Thomas R. Willson, Esq.
                  THOMAS R. WILLSON
                  P. O. Drawer 1630
                  Alexandria, LA 71309-1630
                  Tel: (318) 442-8658
                  Fax: 318-442-9637
                  E-mail: rocky@rockywillsonlaw.com

Total Assets: $0

Total Liabilities: $5.87 million

The petition was signed by Fred Rosenfeld, managing member.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/lawb16-80255.pdf


PETROLEUM PRODUCTS: Wants Extension of Schedules Filing Deadline
----------------------------------------------------------------
Petroleum Products & Services, Inc., asks the Bankruptcy Court to
extend its deadline to file its schedules of assets and liabilities
and statement of financial affairs through April 15, 2016.

The Debtor said that due to reduced workforce, it has not yet had
sufficient time to collect and assemble all of the requisite
financial data and other relevant information required to complete
all of the Schedules and Statement.

"The Meeting of creditors has not yet been scheduled and is likely
not to be scheduled prior to the requested deadline, so the
extension should not unfairly prejudice creditors," according to
Josh Judd, Esq., at Hoover Slovacek LLP, attorney for the Debtor.

The current deadline for filing the schedules and statements is
March 18, 2016.

                     About Petroleum Products

Petroleum Products & Services, Inc.(d/b/a Wellhead Distributors
Int'l and dba WDi) distributes API-6A wellhead equipment and valves
used in the petroleum and natural gas industries.

The Company filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Tex. Case No. 16-31201) on March 4, 2016.  Alejandro Kiss signed
the petition as president.  The Debtor estimated assets in the
range of $10 million to $50 million and liabilities of at least $10
million.

The Debtor has engaged Hoover Slovacek, LLP as counsel and Hirsch
Westheimer, P.C. as special litigation counsel.


PREMIER PAIN: 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 District of Arizona that no official
committee of unsecured creditors has been appointed in the Chapter
11 case of Premier Pain Surgery Center LLC.

Premier Pain Surgery Center LLC sought protection under Chapter 11
of the Bankruptcy Code in the U.S. Bankruptcy Court for the
District of Arizona (Phoenix) (Bankr. D. Ariz., Case No. 15-16327),
on December 31, 2015.  The petition was signed by Sky Moore,
member.

The Debtor is represented by Richard A. Drake, Esq., at Drake Law
Firm Plc.  The case is assigned to Judge Madeleine C. Wanslee.

The Debtor estimated both assets and liabilities in the range of $1
million to $10 million.


PRESSURE BIOSCIENCES: Gets Add'l $550,000 From Private Offering
---------------------------------------------------------------
Pressure BioSciences, Inc., announced it has closed the first
tranche of the over-subscription amount of its $5 million Private
Placement following the receipt of $550,000 in gross proceeds from
the sixth overall closing of the Offering.  This closing increased
the total amount raised in the Offering to $5,560,000.

The initial terms of the Offering limited the amount that could be
raised in the Offering to $6.25 million ($5 million plus a $1.25
million over-subscription amount).  The Company recently approved
an increase in the over-subscription amount to $2.5 million, which
increased the capacity of the Offering to a maximum of $7.5
million.  Following the sixth closing, $1,940,000 remains available
in the Offering.

Pursuant to the terms of the Offering, the Company will issue to
the investors, senior secured convertible debentures with a fixed
conversion price of $0.28 per restricted common share, and common
stock purchase warrants exercisable into shares of restricted
common stock at an exercise price of $0.40 per share.  The Company
is under no obligation to file a registration statement to register
the shares underlying the Debentures and Warrants.

Mr. Richard T. Schumacher, president and CEO of PBI, commented: "In
mid-January 2016, SCIEX, a global leader in life science analytical
technologies and a wholly-owned subsidiary of the Danaher
Corporation, announced an exclusive co-marketing agreement with
PBI.  Under the agreement, the companies will jointly promote PBI's
PCT-based sample preparation systems and SCIEX's mass spectrometry
equipment, with a focus on improved sample preparation, a crucial
step performed by tens of thousands of research scientists
worldwide."

Mr. Schumacher continued: "We believe the combination of PBI and
SCIEX technologies could result in superior biological insights and
discoveries in the life sciences industry, and in rapid and
sustainable revenue growth for PBI.  It is therefore important to
do everything possible to strongly support the PBI-SCIEX
co-marketing agreement.  Consequently, we decided to increase the
over-subscription amount to help ensure that we fulfill our
obligations under the co-marketing agreement, and to enable us to
take full advantage of the opportunities that the co-marketing
agreement and new working relationship with SCIEX will most
certainly offer."

                     About Pressure Biosciences

Pressure BioSciences, Inc., headquartered in South Easton,
Massachusetts, holds 14 United States and 10 foreign patents
covering multiple applications of pressure cycling technology in
the life sciences field.

Pressure Biosciences reported a net loss applicable to common
shareholders of $6.25 million on $1.37 million of revenue for the
year ended Dec. 31, 2014, compared to a net loss applicable to
common shareholders of $5.24 million on $1.5 million of total
revenue for the year ended Dec. 31, 2013.

As of Sept. 30, 2015, the Company had $2.21 million in total
assets, $6.70 million in total liabilities and a total
stockholders' deficit of $4.49 million.

Marcum LLP, in Boston, Massachusetts, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014, noting that the Company has had recurring net
losses and continues to experience negative cash flows from
operations.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern, the auditors
said.


PRIMA BIOMED: Receives NASDAQ Bid Price Deficiency Notice
---------------------------------------------------------
Prima BioMed Ltd. has received notification from the Listing
Qualifications Department of The NASDAQ Stock Market (the "Staff")
indicating that, for the period from January 13, 2016 through
February 26, 2016, the closing bid price of the Company's American
Depositary Shares, or ADS, had not been maintained at the minimum
required closing bid price of at least US$1.00 per share as
required for continued listing on The NASDAQ Global Market pursuant
to NASDAQ Listing Rule 5450(a)(1) (the "Minimum Bid Price Rule").

Prima has a period of 180-calendar days, or until August 29, 2016,
to regain compliance with the Minimum Bid Price Rule.  If within
any time during the 180-day period the minimum closing bid price
per share of the ADSs closes at or above US$1.00 for a minimum of
ten consecutive business days, the Staff will provide written
notification to the Company that it complies with the Minimum Bid
Price Rule and the matter will be closed.  Prima's management is
looking into various options available to the Company in order to
regain compliance and maintain its continued listing on The NASDAQ
Global Market.

Prima's ADSs will continue to trade uninterrupted on The NASDAQ
Global Market under the symbol "PBMD."  The Company's ordinary
shares which are traded on the Australian Stock Exchange ("ASX")
under the symbol "PRR" are in full compliance with ASX listing
requirements and are completely independent of the NASDAQ listing.

In the event that Prima does not regain compliance within the above
mentioned period, the Company may be eligible to receive an
additional 180-day compliance period; such additional compliance
period would be available provided that the Company meets the
continued listing requirement for market value of publicly held
shares and all other initial listing standards for The NASDAQ
Capital Market, with the exception of the minimum bid price
requirement, based on the Company's most recent public filings and
provides written notice of its intention to cure the minimum bid
price deficiency.  If it appears to the Staff that the Company will
not be able to cure the deficiency, or if the Company is not
otherwise eligible for the additional compliance period, the Staff
would provide written notification to the Company that its ADSs are
subject to delisting.

                       About Prima BioMed

Prima BioMed -- http://www.primabiomed.com.au-- is an
Australia-based biotechnology company.  The Company is engaged in
research, development and commercialization of licensed medical
biotechnology.  It is listed on the Australian Stock Exchange and
on the NASDAQ in the US.


PRIME GLOBAL: Gets Approval for Revised Development Land Order
--------------------------------------------------------------
Prime Global Capital Incorporated disclosed in a Form 8-K filed
with the Securities and Exchange Commission that it submitted a
request to convert some of its planned semi-detached and bungalow
home parcels into cluster semi-detached homes to improve the
marketability of the Company's proposed development on land located
in Puncak Alam.

On March 4, 2016, the Company received notification from the Kuala
Selangor District Council that its revised Development Order
relating to the Puncak Alam land was approved on Feb. 24, 2016.

                      About Prime Global

Kuala Lumpur, Malaysia-based Prime Global Capital Group operated in
the following three business segments during fiscal year 2014: (i)
software business (the provision of IT consulting, programming and
website development services); (ii) plantation business (including
oilseeds and castor seeds business); and (iii) its real estate
business.  In the fourth quarter of fiscal 2014, the Company
discontinued its castor seeds business in China, and in December
2014 it discontinued the software business (the provision of IT
consulting, programming and website services) in Malaysia. As a
result, the Company no longer conduct business operations in China
and anticipate winding down or otherwise selling its interests in
the following entities: Power Green Investments Limited; Max Trend
International Limited and Shenzhen Max Trend Green Energy Co Ltd.

Prime Global Capital reported a net loss of US$1.33 million for the
year ended Dec. 31, 2014, compared to a net loss of US$2.09 million
for the year ended Dec. 31, 2013.

B F Borgers CPA PC, in Lakewood, CO, issued a "going concern
qualification in its report on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company's capital commitments in comparison to available cash
balances raise substantial doubt about its ability to continue as a
going concern.


PRIME GLOBAL: Sek Fong Wong Resigns as Secretary
------------------------------------------------
Sek Fong Wong resigned from her position as the secretary of Prime
Global Capital Incorporated, effective March 7, 2016, according to
a regulatory filing with the Securities and Exchange Commission.
Ms. Wong's departure was for personal reasons and not due to any
disagreement with the Company on any matter related to the
Company's operations, policies or practices, the filing stated.

In connection with Ms. Wong's resignation from her position, the
Board appointed Liong Tat Teh, the Company's chief financial
officer, to serve as the Company's secretary.

                       About Prime Global

Kuala Lumpur, Malaysia-based Prime Global Capital Group operated in
the following three business segments during fiscal year 2014: (i)
software business (the provision of IT consulting, programming and
website development services); (ii) plantation business (including
oilseeds and castor seeds business); and (iii) its real estate
business.  In the fourth quarter of fiscal 2014, the Company
discontinued its castor seeds business in China, and in December
2014 it discontinued the software business (the provision of IT
consulting, programming and website services) in Malaysia. As a
result, the Company no longer conduct business operations in China
and anticipate winding down or otherwise selling its interests in
the following entities: Power Green Investments Limited; Max Trend
International Limited and Shenzhen Max Trend Green Energy Co Ltd.

Prime Global Capital reported a net loss of US$1.33 million for the
year ended Dec. 31, 2014, compared to a net loss of US$2.09 million
for the year ended Dec. 31, 2013.

B F Borgers CPA PC, in Lakewood, CO, issued a "going concern
qualification in its report on the consolidated financial
statements for the year ended Dec. 31, 2014, citing that the
Company's capital commitments in comparison to available cash
balances raise substantial doubt about its ability to continue as a
going concern.


PROSPECT HOLDING: S&P Lowers ICR to 'SD' on Finalized Tender Offer
------------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
issuer credit rating on Prospect Holding Co. LLC to 'SD' from 'CC'
and the rating on the senior notes to 'D' from 'CC'.

The rating actions follow Prospect's finalization of its previously
announced tender offer for its senior notes.  The company paid $53
million to redeem and retire notes with a notional value of about
$88 million.  The $53 million in capital largely came from the
company's recent sale of its mortgage servicing rights portfolio.
Following the tender offer, the company will have about $41.5
million of senior notes remaining.

"We will look to raise the issuer credit rating from 'SD' in as
soon as one business day.  However, we expect to leave the
remaining senior notes at 'D' since the company could make
additional purchases on the secondary market at distressed prices,"
said Standard & Poor's credit analyst Stephen Lynch.


QUICKSILVER RESOURCES: Canada Unit COO Gets $89,000 Bonus
---------------------------------------------------------
Quicksilver Resources Canada Inc., on March 2, 2016, granted a cash
bonus award of $89,280 (converted to U.S. dollars using an exchange
rate of 0.7518 U.S. dollars per 1 Canadian dollar) to J. David
Rushford, Senior Vice President - Chief Operating Officer of QRCI.
The bonus is payable upon the completed transition of all of the
assets of QRCI.  If Mr. Rushford's employment is terminated by QRCI
without cause prior to the Payment Date, he will remain eligible to
receive the bonus payment. If Mr. Rushford terminates his own
employment at any time prior to the Payment Date, he will not be
eligible to receive the bonus payment.

                  About Quicksilver Resources

Quicksilver Resources Inc. (OTCQB: KWKA) is an exploration and
production company engaged in the development and production of
long-lived natural gas and oil properties onshore North America.
Based in Fort Worth, Texas, the company claims to be a leader in
the development and production from unconventional reservoirs
including shale gas, and coal bed methane.  Following more than 30
years of operating as a private company, Quicksilver became public
in 1999.

The Company has U.S. offices in Fort Worth, Texas; Glen Rose,
Texas; Steamboat Springs, Colorado; Craig, Colorado and Cut Bank,
Montana.  The Company's Canadian subsidiary, Quicksilver Resources
Canada Inc. is headquartered in Calgary, Alberta.

On March 17, 2015, Quicksilver Resources Inc. and certain of its
affiliates filed voluntary petitions for relief under Chapter 11 of
the Bankruptcy Code in Delaware.  Quicksilver's Canadian
subsidiaries were not included in the chapter 11 filing.

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

The Company's balance sheet at Dec. 31, 2014, showed $1.21 billion
in total assets, $2.35 billion in total liabilities and total
stockholders' deficit of $1.14 billion.

The U.S. Trustee for Region 3 appointed five creditors of
Quicksilver Resources Inc. to serve on the official committee of
unsecured creditors.

                           *     *     *

Quicksilver Resources Inc. and its U.S. subsidiaries on January 22,
2016, entered into an Asset Purchase Agreement with BlueStone
Natural Resources II, LLC pursuant to which the Buyer agreed to
purchase substantially all of the Sellers' U.S. oil and gas assets
for a cash purchase price of $245.0 million.

The consummation of the transactions contemplated by the Purchase
Agreement is subject to customary closing conditions, and such
transactions are expected to close on or before March 31, 2016.


QUICKSILVER RESOURCES: Canada Unit Sells Oil & Gas Biz for $79M
---------------------------------------------------------------
Quicksilver Resources Canada Inc., a wholly owned subsidiary of
Quicksilver Resources Inc., on March 1, 2016, entered into an Asset
Purchase Agreement with CPC Resources ULC pursuant to which the
Buyer agreed to purchase certain of QRCI's oil and gas assets
primarily located in the Horseshoe Canyon area of Alberta, Canada,
for a cash purchase price of approximately US$79 million, subject
to customary adjustments. QRCI and the Buyer have made customary
representations, warranties and covenants in the Purchase
Agreement.

Pursuant to the Purchase Agreement, the Buyer made a deposit of
approximately US$8 million.  If the Purchase Agreement is
terminated by QRCI as a result of a breach by the Buyer that is not
cured within a specified cure period, then the deposit plus any
accrued interest will be forfeited to QRCI as liquidated damages.


The consummation of the transactions contemplated by the Purchase
Agreement is subject to various closing conditions, and such
transactions are expected to close on or before April 29, 2016.

                  About Quicksilver Resources

Quicksilver Resources Inc. (OTCQB: KWKA) is an exploration and
production company engaged in the development and production of
long-lived natural gas and oil properties onshore North America.
Based in Fort Worth, Texas, the company claims to be a leader in
the development and production from unconventional reservoirs
including shale gas, and coal bed methane.  Following more than 30
years of operating as a private company, Quicksilver became public
in 1999.

The Company has U.S. offices in Fort Worth, Texas; Glen Rose,
Texas; Steamboat Springs, Colorado; Craig, Colorado and Cut Bank,
Montana.  The Company's Canadian subsidiary, Quicksilver Resources
Canada Inc. is headquartered in Calgary, Alberta.

On March 17, 2015, Quicksilver Resources Inc. and certain of its
affiliates filed voluntary petitions for relief under Chapter 11 of
the Bankruptcy Code in Delaware.  Quicksilver's Canadian
subsidiaries were not included in the chapter 11 filing.

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

The Company's balance sheet at Dec. 31, 2014, showed $1.21 billion
in total assets, $2.35 billion in total liabilities and total
stockholders' deficit of $1.14 billion.

The U.S. Trustee for Region 3 appointed five creditors of
Quicksilver Resources Inc. to serve on the official committee of
unsecured creditors.

                           *     *     *

Quicksilver Resources Inc. and its U.S. subsidiaries on January 22,
2016, entered into an Asset Purchase Agreement with BlueStone
Natural Resources II, LLC pursuant to which the Buyer agreed to
purchase substantially all of the Sellers' U.S. oil and gas assets
for a cash purchase price of $245.0 million.

The consummation of the transactions contemplated by the Purchase
Agreement is subject to customary closing conditions, and such
transactions are expected to close on or before March 31, 2016.


REALOGY HOLDINGS: Jessica Bibliowicz Quits as Director
------------------------------------------------------
Realogy Holdings Corp. disclosed in a Form 8-K report filed with
the Securities and Exchange Commission that Jessica M. Bibliowicz,
notified the Company of her decision to resign as a member of the
Board of Directors, effective as of the Realogy Holdings Corp. 2016
Annual Meeting of Stockholders to be held on May 4, 2016.  

The Company said Ms. Bibliowicz's decision to resign is based
solely on her recent increased time commitments with other for
profit and non-profit affiliations.  Ms. Bibliowicz currently
serves as a member of the Board's Audit Committee.

                   About Realogy Holdings Corp.

Realogy Holdings Corp. (NYSE: RLGY) is a global leader in
residential real estate franchising with company-owned real estate
brokerage operations doing business under its franchise systems as
well as relocation and title services.  Realogy's brands and
business units include Better Homes and Gardens(R) Real Estate,
CENTURY 21(R), Coldwell Banker(R), Coldwell Banker Commercial(R),
The Corcoran Group(R), ERA(R), Sotheby's International Realty(R),
NRT LLC, Cartus and Title Resource Group.  Collectively, Realogy's
franchise system members operate approximately 13,500 offices with
251,000 independent sales associates doing business in 104
countries around the world. Realogy is headquartered in Madison,
N.J.

Realogy Holdings reported net income attributable to the Company of
$143 million on $5.32 billion of net revenues for the year ended
Dec. 31, 2014, compared to net income attributable to the Company
of $438 million on $5.28 billion of net revenues during the prior
year.

As of Sept. 30, 2015, the Company had $8.02 billion in total
assets, $5.63 billion in total liabilities and $2.39 billion in
total equity.

                           *     *     *

In the Aug. 1, 2013, edition of the TCR, Moody's Investors Service
upgraded the corporate family rating of Realogy Group to to B2
from B3.  The upgrade to B2 CFR is driven by expectations for
ongoing strong financial performance, supported by Realogy's
recently-concluded debt and equity financing activities and a
continuing recovery in the US existing home sale market.

As reported by the TCR on Feb. 18, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on Realogy Corp. to
'B+' from 'B'.

"The one notch upgrade in the corporate credit rating to 'B+'
reflects an increase in our expectation for operating performance
at Realogy in 2013, and S&P's expectation that total lease
adjusted debt to EBITDA will improve to the low-6x area and funds
from operations (FFO) to total adjusted debt will be improve to
the high-single-digits percentage area in 2013, mostly due to
EBITDA growth in the low- to mid-teens percentage area in 2013,"
S&P said.


REEVES DEVELOPMENT: Ordered to File 4th Amended Plan & Disclosures
------------------------------------------------------------------
Reeves Development Company, LLC, on Jan. 21, 2016, filed a Third
Amended Chapter 11 Plan of Reorganization and a Third Amended
Disclosure Statement, and a hearing on the Disclosure Statement was
held Feb. 18.  According to a minute entry, Judge Robert R.
Summerhays ruled, "The Debtor shall file an amended plan and
disclosure statement within 20 days and notice for hearing on April
14, 2016."

According to the Third Amended Disclosure Statement, the Plan
contemplates payment of all Allowed Claims against the Debtor based
upon the cash flow created through the Debtor's business operations
and the sale of property developed by the Debtor and affiliated
companies.  The holders of equity interests will not receive any
distribution unless the Debtor is current on all payments to
creditors under this plan, and only to the extent that such
distributions are for an amount equal to, or less than, the tax
liability created by the Debtor and passed through to the equity
interests.

Under the Plan, the holder of the secured claim of Iberia Bnak will
receive principal reduction payments as set forth in the Settlement
Agreement.  Holders of secured vendor claims totaling $77,200 will
receive, beginning 180 days after the Effective Date, quarterly
interest payments equal to 1% per annum, plus an amount equal to
$750 per acre for each acre of land sold by the Debtor.  Holders of
general unsecured claims owed $153,000 will receive payment of 10%
of the balance in year 1, 15% in year 2, 25% in year 3, 25% in year
4 and 25% in year five.  Any payments to Equity holders allowed
hereunder shall be limited to an amount equal to the tax liability
passed through to the equity holders by the Debtor.

A copy of the Third Amended Disclosure Statement is available at:

         http://bankrupt.com/misc/Reeves_354_3rd_Am_DS.pdf

                     About Reeves Development

Reeves Development Company, LLC, a commercial and residential
real estate developer, filed a Chapter 11 petition (Bankr. W.D.
La.Case No. 12-21008) in Lake Charles, Louisiana, on Oct. 30,
2012. The closely held developer was founded in 1998 by Charles
Reeves  Jr., its sole owner. Reeves Development has about 80
employees  and generates about $40 million in annual revenue,
according to its Web site.

Bankruptcy Judge Robert Summerhays oversees the case. Arthur
A. Vingiello, Esq., at Steffes, Vingiello & McKenzie, LLC, in
Baton Rogue, Louisiana, represents the Debtor as counsel.

Reeves Development scheduled assets of $15,454,626 and
liabilities of $20,156,597 as of the Petition Date.

Affiliate Reeves Commercial Properties, LLC (Bankr. W.D. La.
Case No. 12-21009) also sought court protection.


REHOBOTH MCKINLEY: Fitch Keeps $5.6MM 2007 Bonds on Watch Negative
------------------------------------------------------------------
Fitch Ratings maintains its Rating Watch Negative on the following
revenue bonds issued by the New Mexico Hospital Equipment Loan
Council on behalf of Rehoboth McKinley Christian Health Care
Services, Inc. (Rehoboth), which are currently rated 'B'.

-- $5.6 million hospital facility improvement and refunding
    revenue bonds, series 2007A.

SECURITY

The bonds are secured by a pledge of revenues and equipment and a
debt service reserve fund.

KEY RATING DRIVERS

OUTSTANDING EVENT OF DEFAULT: Maintenance of the Rating Watch
Negative reflects the lack of resolution to Rehoboth's violation of
its rate covenant in fiscal 2014, which triggered an Event of
Default under the Master Trust Indenture. Management, through the
Trustee, is working to secure a Forbearance Agreement with
bondholders. At this time, Rehoboth is current with all loan and
lease payments and has not drawn on the debt service reserve fund.


IMPROVED 2015 RESULTS: Twelve month unaudited results for the year
ended Dec. 31, 2015, shows much stronger operating performance and
profitability. Excluding approximately $2.5 million of tax revenues
that are not available for debt service, RRMCHS generated a 1.3%
operating margin and a 5.7% operating EBITDA margin. Debt service
coverage by EBITDA through the interim period is a solid 3.7x.

SMALL REVENUE BASE: Fitch believes RMCHS's small revenue base
remains a key credit concern as the hospital has limited
flexibility to handle adverse events.

RATING SENSITIVITIES

EXECUTION OF A FOREBEARANCE AGREEMENT: The maintenance of the
Negative Watch reflects the uncertainty surrounding successful
negotiation by Rehoboth McKinley Christian Health System of a
forbearance agreement with its bondholders. While the improved
interim results would indicate a favorable outcome with no
acceleration of the outstanding debt, future rating action,
including the removal from Rating Watch, is contingent on
negotiations between Rehoboth and bondholders.

CREDIT PROFILE

Rehoboth McKinley Health Care Services, Inc. is a 69-bed general
acute care hospital located in Gallup, NM (138 miles west of
Albuquerque, NM and 180 miles east of Flagstaff, AZ). Total
operating revenue in fiscal 2014 was $48.2 million.

DISCLOSURE

Rehoboth covenants to provide annual financial statements within 30
days after the approval of the report by the state auditor, which
has usually resulted in fairly late receipt of audits. Rehoboth has
also been posting monthly financial statements on EMMA.


RESEARCH SOLUTIONS: 12 West Has 9.3% Stake as of Feb. 26
--------------------------------------------------------
(Jhonas SEC March 9 2)- coverage off
In a Schedule 13G filed with the Securities and Exchange
Commission, 12 West Capital Management LP reported that as of
Feb. 26, 2016, it beneficially owns 1,721,000 common shares of
Research Solutions, Inc., representing 9.3 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/4GvMRO

                     About Research Solutions

Research Solutions, Inc. provides research information services
and software to research-intensive industries in the Life Sciences
and other fields.  The Encino, California-based Company delivers
copyrighted copies of published content, including articles from
published journals, to content users in hard copy or electronic
form.

As of June 30, 2015, the Company had $6.7 million in total assets,
$5.6 million in total liabilities and $1.1 million in total
stockholders' equity.

                             *   *    *

This concludes the Troubled Company Reporter's coverage of Research
Solutions, Inc. until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


RESOLUTE ENERGY: S&P Lowers CCR to 'CCC-', Outlook Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Denver-based Resolute Energy Corp. to 'CCC-' from 'CCC'.
The outlook is negative.

At the same time, S&P lowered the rating on the company's
second-lien term loan to 'CC' from 'CCC' and removed it from
CreditWatch where S&P placed it with negative implications Feb. 9,
2016.  S&P also revised the recovery rating on this loan to '5'
from '3'.  The '5' recovery rating indicates S&P's expectation of
modest (the higher end of the 10%-30% range) recovery in the event
of a payment default.  S&P also lowered the rating on the company's
senior unsecured notes to 'C' from 'CC'.  The recovery rating on
these notes remains '6', indicating S&P's expectation for
negligible (0%-10%) recovery in the event of a payment default.

The downgrade follows Resolute's announcement that it could pursue
a debt restructuring and the likelihood S&P would consider any such
restructuring as a selective default ('SD'), particularly given
that the senior notes currently trade substantially below par
value.  S&P also revised its recovery rating on the second-lien
term loan to '5' from '3', reflecting the application of Resolute's
Dec. 31, 2015, PV-10 to S&P's recovery analysis. Although
outstanding debt on the company's credit facility and term loan
have decreased during 2015, the combination of asset sales and the
impact of lower crude oil and natural gas prices on the company's
reserve valuation offsets the lower debt level.

"The ratings on Resolute reflect our view of the company's
vulnerable business risk and highly leveraged financial risk
profiles, and our assessment of liquidity as adequate," said
Standard & Poor's credit analyst Paul Harvey.

The negative outlook reflects the potential for a downgrade if the
company announced a debt exchange that S&P views as distressed, or
if it violated covenants under its revolving credit facility.

S&P could lower the rating if the company announced a distressed
exchange of its debt or if they violated covenants under their
revolving credit facility.

S&P could consider a positive rating action if it no longer
believed the company would consider a distressed exchange.


REXFORD PROPERTIES: Taps Sherwood Partners as Finc'l. Advisors
--------------------------------------------------------------
Rexford Properties LLC seek Bankruptcy Court approval to employ
Sherwood Partners, Inc., as financial advisor, effective as of
January 28, 2016.

The Debtor relates that it is in final stages of drafting a plan of
reorganization and related disclosure statement, and thus need a
financial advisor in connection with its Plan confirmation
efforts.

The Debtor needs Sherwood Partners in:

(a) The review and analysis of any valuations of the Debtor's
     assets prepared to support the Plan;

(b) The preparation of a liquidation analysis and a feasibility
     analysis;

(c) The preparation of financial information, including, but not
     limited to, cash flow projections and budgets, cash receipts
     and disbursement analysis, and analysis of asset and
     liability accounts;

(d) The analysis of creditor claims;

(e) The interpretation and analysis of financial materials,
     including accounting, tax, statistical, financial and
     economic data, regarding the Debtor;

(f) The preparation of information and analysis necessary for
     the development and confirmation of a chapter 11 plan; and

(g) The provisions of such other business consulting or such
     other assistance as the Debtor or counsel may deem necessary
     which are consistent with the role of a financial advisor
     and not duplicative of services provided by other
     professionals in this Bankruptcy Case.

Sherwood professionals most likely to render services in the
Debtor's case and their hourly rates are:

  Andrew De Camara, senior managing director     $525
  David Johnson, managing director               $450

If other Sherwood personnel assist in the matter, they will be
charged at the individuals' applicable hourly rates, not to exceed
$450 per hour.

Sherwood's billing statements will also include charges for
reasonable and necessary third party and staff services employed in
the court of its work for the Debtor.

Andrew De Camara, a Sherwood professional, assures the Court that
his Firm has no interest materially adverse to the interest of the
Debtor's estate and thus, is a disinterested person within the
meaning of Section 101(14) of the Bankruptcy Code.

The Firm can be reached at:

     SHERWOOD PARTNERS LLC
     Andrew De Camara
     David Johnson
     1100 La Avenida Street
     Building A
     Mountain View, CA 94043
     Tel No: 650-454-8001
     Fax No: 650-454-8040
     info@shrwood.com

                  About Rexford Properties

Valley Village, California-based Rexford Properties LLC filed for
Chapter 11 protection (Bank. C.D. Calif. Case No. 15-12116) on June
16, 2015.  The petition was signed by Lisa Ehrlich, managing
member.

Bankruptcy Judge Martin R. Barash presides over the case.  Michael
M. Lauter, Esq., at Sheppard Mullin Richter & Hampton LLP
represents the Debtor in its restructuring effort.

The Debtor disclosed total assets of $1,107,620 plus a unknown
amount and total liabilities of $12,883,441.


RWL INVESTMENTS: Case Summary & 9 Unsecured Creditors
-----------------------------------------------------
Debtor: RWL Investments, LLC
        1321 Scott Street
        Little Rock, AR 72202

Case No.: 16-11251

Chapter 11 Petition Date: March 8, 2016

Court: United States Bankruptcy Court
       Eastern District of Arkansas (Little Rock)

Debtor's Counsel: Seth Daniel Hyder, Esq.
                  KEECH LAW FIRM, P.A.
                  2011 S. Broadway
                  Little Rock, AR 72206
                  Tel: 501-221-3200
                  Fax: 501-221-3201
                  Email: shyder@keechlawfirm.com

                     - and -

                  Kevin P. Keech, Esq.
                  KEECH LAW FIRM, P.A.
                  2011 S. Broadway St.
                  Little Rock, AR 72206
                  Tel: (501)221-3200
                  Fax: (501)221-3201
                  E-mail: kkeech@keechlawfirm.com

Total Assets: $11.1 million

Total Debts: $8.57 million

The petition was signed by Ryan Lazenby, manager.

List of 20 Largest Unsecured Creditors only contains nine entries:


   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Arkansas Dept of Fin & Admin                                 $0

Arkansas Dept of Workforce                                   $0

Centennial Bank                        Credit          $199,637

Centerpoint Energy                                           $0

Central Arkansas Water                                       $0

Entergy                                                      $0

Internal Revenue Service                                     $0

North Little Rock Electric                                   $0

Utility Billing Services                                     $0


RWL INVESTMENTS: Files Schedules of Assets and Liabilities
----------------------------------------------------------
RWL Investments, LLC, filed with the U.S. Bankruptcy Court for the
Eastern District of Arkansas its schedules of assets and
liabilities, disclosing:

     Schedule A/B: Assets-Real and Personal Property

          1a. Real property:                          $11,113,015

          1b. Total personal property:                         $0
                                                -----------------
          1c. Total of all property:                  $11,113,015

     Summary of Liabilities

          Schedule D: Creditors Who Have Claims
            Secured by Property                        $8,379,758

          Schedule E/F: Creditors Who Have
            Unsecured Claims

              3a. Total claim amounts of
                  priority unsecured claims                    $0

              3b. Total amount of claims of
                  nonpriority amount of
                  unsecured claims                       $199,637
                                                -----------------
          Total liabilities                            $8,579,395

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

             http://bankrupt.com/misc/areb16-11251.pdf

                       About RWL Investments

RWL Investments, LLC filed a Chapter 11 bankruptcy petition (Bankr.
E.D. Ark. Case No. 16-11251) on March 8, 2016.  The petition was
signed by Ryan Lazenby as manager.  Keech Law Firm, P.A.,
represents the Debtor as counsel.


SEMGROUP CORP: Moody's Lowers CFR to 'B2', Outlook Stable
---------------------------------------------------------
Moody's Investors Service downgraded SemGroup Corporation's
Corporate Family Rating to B2 from B1, its Probability of Default
Rating (PDR) to B2-PD from B1-PD, and its senior unsecured notes
rating to Caa1 from B3.  Moody's affirmed SemGroup Corporation's
Speculative Grade Liquidity Rating SGL -- 3.  The rating outlook is
negative.  At the same time, Moody's downgraded Rose Rock
Midstream, L.P.'s CFR to B1 from Ba3, its PDR to B1-PD from Ba3-PD,
and its senior unsecured notes rating to B2 from B1.  Moody's
affirmed Rose Rock's SGL-3 rating.  The outlook is stable.

"The downgrades reflect management's increasingly aggressive
distribution and dividend policy at the MLP and corporate levels,
as well as a need to debt finance essentially all of 2016's
approximately $400 million of growth capital spending on SemGroup's
revolving credit facility," said John Thieroff, Moody's Vice
President.  "Both SemGroup and Rose Rock face downward pressure on
throughput volumes related to precipitous declines in upstream
spending and heightened counterparty risk, while Rose Rock's White
Cliffs pipeline faces intensified competition that will likely
materially erode margins."

Issuer: Rose Rock Midstream, L.P.

Downgrades:

  Probability of Default Rating, Downgraded to B1-PD from Ba3-PD
  Corporate Family Rating, Downgraded to B1 from Ba3
  Senior Unsecured Regular Bond/Debentures, Downgraded to B2
   (LGD 5) from B1 (LGD 4)

Affirmations:
  Speculative Grade Liquidity Rating, Affirmed SGL-3

Outlook Actions:
  Outlook, Remains Stable

Downgrades:

Issuer: SemGroup Corporation

Downgrades:

  Probability of Default Rating, Downgraded to B2-PD from B1-PD
  Corporate Family Rating, Downgraded to B2 from B1
  Senior Unsecured Regular Bond/Debenture, Downgraded to Caa1
   (LGD 5) from B3 (LGD 5)

Affirmations:

  Speculative Grade Liquidity Rating, Affirmed SGL-3

Outlook Actions:

  Outlook, Changed To Negative From Stable

                         RATINGS RATIONALE

SemGroup's B2 Corporate Family Rating (CFR) reflects the company's
limited scale, large growth capital expenditures, increasing
leverage, significant exposure to weak natural gas prices, and the
evolving, complex corporate structure associated with its MLP
subsidiary, Rose Rock.  SemGroup seeks to develop organic growth
projects that it drops down to Rose Rock, post-completion.  In
2016, Moody's expects that SemGroup will fully debt finance the
remaining $326 million to construct the Maurepas pipeline, a
pipeline network connecting Motiva Enterprises LLC (A2 rating under
review for downgrade) refineries on the Gulf Coast, causing a
significant increase in leverage at SemGroup prior to the eventual
dropdown.

The rating is further constrained by the company's exposure to
volumetric risk in its SemGas business as the corporation has no
take-or-pay contracts in this business segment.  Additionally, the
creditworthiness of several of the corporation's upstream
counterparties in this business continues to deteriorate and
Moody's expects that several of these companies will halt drilling
operations in 2016 as crude oil prices remain weak.  SemGroup
employs leverage within its capital structure at both the holding
company and at Rose Rock, creating structural subordination
concerns for debt holders at SemGroup since the core cash
generating crude assets and much of the consolidated company's
future growth will eventually rest at Rose Rock.  The rating is
supported by the increasing proportion of fee-based cash flows
within strong growth areas and its diversified operations and asset
portfolio across several key North American oil and gas basins.

Rose Rock's B1 Corporate Family Rating (CFR) reflects the
partnership's limited size and scale and the risks inherent in the
business model for growth-oriented MLPs, including an aggressive
distribution policy that results in distribution coverage under 1x
by the fourth quarter of 2016 and continuing through 2017.  The
rating is further constrained by our expectation that leverage
rises to or slightly exceeds 5x, when including Moody's
adjustments.  Additionally, increased competition facing White
Cliffs Pipeline beginning in mid-2016 is likely to pressure
margins.  The rating is supported by the high percentage of
fee-based services and fixed-margin transactions, over half of
which are take-or-pay contracts, within strong growth areas that
mitigate commodity price volatility and provide for stable, visible
cash flow growth potential.  The rating also incorporates the
strategic nature of its assets and its relationship with SemGroup.

SemGroup's SGL-3 Speculative Grade Liquidity Rating reflects
adequate liquidity through early-2017.  Moody's expects the
company's dividends and maintenance capital to slightly outpace
cash from operations, likely causing the company to fund its
approximately $400 million of 2016 growth spending entirely under
its $500 million revolving credit facility.  The company is not
expected to need to access the capital markets in 2016; however in
doing so and maintaining its dividend at current levels, available
liquidity is anticipated to be less than $100 million by the end of
the first quarter of 2017.  The revolver agreement has financial
covenants requiring total leverage not exceed 5.5x, senior secured
leverage not to exceed 3.5x and interest coverage not to fall below
2.5x.  Moody's expects the company to remain in compliance with
these covenants.

Rose Rock's SGL-3 Speculative Grade Liquidity Rating reflects
adequate liquidity through early-2017.  At Dec. 31, 2015, Rose Rock
had $550 available under its $585 million senior secured revolver
along with $9 million of cash.  Given that the majority of growth
capital in 2016 will be funded at the SemGroup level, we believe
that the partnership's liquidity profile will remain adequate
through early-2017 and that revolver usage will be moderate.  The
credit facility expires in September 2018 and is subject to a total
leverage covenant of no more than 5.5x, a senior secured leverage
covenant of no more than 3.5x and EBITDA / interest coverage
covenant of no less than 2.5x.  Moody's expects Rose Rock will
remain in compliance with its financial covenant ratios through
early-2017.

SemGroup's negative outlook reflects the corporation's heightened
risk as its upstream counterparties in its SemGas business slow
down or halt drilling activity in 2016.  In addition, Moody's
expects that SemGroup will utilize most of its revolver capacity by
early 2017 to fund capital spending, which could pose liquidity
constraints for the company in 2017 and will elevate consolidated
leverage to slightly above 5x.  Ratings could be downgraded if debt
to EBITDA appears likely to materially exceed 5x and no
remediation, such as asset sales or a cut to the dividend, occurs.
A significant reliance on Rose Rock's distributions relative to its
own cash flow could lead to a widening of the notching between the
two companies; a deterioration of Rose Rock's credit profile would
also negatively impact SemGroup.

While unlikely in 2016 due to weakness at several of its
subsidiaries, SemGroup's ratings could be considered for an upgrade
if the company were to restore leverage to its historical range of
3.5x to 4x.  Moody's would also consider an upgrade if SemGroup
significantly increased its size and built additional scale without
a deterioration in business risk profile or leverage metrics.  An
upgrade of Rose Rock could also lead to an upgrade of SemGroup.

Rose Rock's stable outlook reflects the partnership's high
proportion of fee-based cash flows.  An upgrade is unlikely in 2016
given significantly reduced drilling budgets of its upstream
counterparties and the throughput uncertainty at White Cliffs that
will be caused by Saddlehorn pipeline when it comes onstream.  An
upgrade would likely depend on a deleveraging event, such as the
dropdown of a stable cash flow producing asset funded in a balanced
manner.  An upgrade further depends on Rose Rock achieving and
maintaining a minimum distribution coverage of 1.1x. The ratings
could be downgraded if Rose Rock's financial leverage increases due
to debt funded acquisitions or elevated capital expenditures.  More
specifically, if leverage appears to be approaching 5.5x on a
sustained basis and distribution coverage remains under 1x into
2017, a ratings downgrade could result.

The principal methodology used in these ratings was Global
Midstream Energy published in December 2010.


SIBLING GROUP: Posts $1.19 Million Net Loss in Dec. 2015 Quarter
----------------------------------------------------------------
Sibling Group Holdings, Inc., reported a net loss of $1,194,802 for
the fiscal second quarter ended Dec. 31, 2015, slightly up from the
$1,091,707 net loss during the same period in 2014.  Revenues were
$494,544 during the December 2015 quarter, down from $570,374
during the same period in 2014.

During the six months ended December 31, 2015, the Company had a
net loss of $2,391,456 and negative cash flow from operations of
$3,863,920.  These conditions, according to the Company, raise
substantial doubt about its ability to continue as a going concern.


"The ability of the Company to continue as a going concern is
dependent on generating future profitable operations and raising
additional capital needed until the Company generates profits.
There can be no assurance that the Company will be able to raise
the necessary funds when needed to finance its ongoing costs," it
said.

"We had working capital of $284,725 and $1,009,792 in cash as of
December 31, 2015, compared to working capital of $2,896,154 and
$5,415,744 in cash as of June 30, 2015," the Company added.
"Management believes that the Company's current cash and cash
equivalents will not be sufficient to meet working capital and
capital expenditure requirements for the next 12 months.  As a
result, the ability of the Company to continue as a going concern
is dependent on generating future profitable operations and raising
additional capital needed until the Company generates profits.
Management is therefore seeking to raise additional debt and/or
equity capital.  There can be no assurance that the Company will be
able to raise the necessary funds when needed to finance its
ongoing working capital requirements."

At Dec. 31, 2015, the Company had total assets of $3,080,625
against total liabilities, all current, of $1,329,000.  Total
stockholders' equity was $1,751,625.

A copy of the Company's Form 10-Q report for the quarterly period
ended December 31, 2015, is available at http://is.gd/O2nITq

Orlando, Fla.-based Sibling Group Holdings, Inc., d/b/a Global
Personalized Academics, provides virtual and classroom learning to
help students across the globe transform the way they learn.  GPA
aims to take online learning to the next level with the latest
technologies and education practices to help students reach their
full potential.  

The Company has gone under different names.  It was incorporated
under the laws of the State of Texas on December 28, 1988, as
"Houston Produce Corporation". On June 24, 1997, the Company
changed its name to "Net Masters Consultants, Inc." On November 27,
2002, the Company changed its name to "Sona Development
Corporation" in an effort to restructure the business image to
attract prospective business opportunities. The Company name
changed on May 14, 2007 to "Sibling Entertainment Group Holdings,
Inc." and on August 15, 2012, the Company name was changed to
"Sibling Group Holdings, Inc."  On July 20, 2015, the Company
issued a press release announcing its intent to do business under
the name of Global Personalized Academics.  The Company intends to
formally change its name to GPA, and has taken steps towards this
achieving this objective.


SPIG INDUSTRY: Judge Set to Confirm Plan Over Grundy Objections
---------------------------------------------------------------
Judge Paul M. Black on March 3, 2016, convened a hearing on Spig
Industry, LLC's Chapter 11 plan of reorganization and is expected
to sign an order confirming the Plan.

"Plan confirmed with stipulation that it provide for 28 days to
object, default of which entry becomes final. Order to include
language resolving motion for cramdown. Order to be Tendered by
Copeland with endorsements of parties Due by 3/14/2016," according
to the docket entry for the March 3 hearing.

The Debtor filed a Disclosure Statement and Plan on Nov. 6, 2015.


On or about Dec. 23, 2015, the Debtor, Grundy National Bank and
others entered into a detailed, ten page Settlement Agreement.  The
Settlement Agreement required the Debtor to file an Amended Plan.
The Settlement Agreement sets out a repayment plan to the Bank.

The Court, by order entered Dec. 30, 2015 directed the Debtor to
file an amended disclosure statement to resolve certain issues
identified by the court at the hearing.  The Debtor filed an
Amended Disclosure Statement as directed on Dec. 31, 2015, which
was approved by the Court by order entered Jan. 20, 2016.
Thereafter, the Debtor caused ballots to be mailed to all
creditors, as evidenced by the certificate of service of same dated
Jan. 27, 2016.

Ballots have been received and tabulated from three of the classes
of claims in the case, and Classes 3 and 4 have accepted the
Chapter 11 plan as amended.  Jones Day with $6.93 million claim in
Class 3; and Feralloy Corp ($2 million claim) and Spig Industry
Tulsa ($159,000) in Class 4 all voted to accept the Plan.  No
ballot has been received from any Class 5 creditor.  The Class 2
creditor, Grundy National Bank (with a $2.77 million claim), has
filed a ballot rejecting the Plan.

On Feb. 25, 2016, the Debtor filed a document titled Non Material
Modifications to the Plan, a copy of which is available at:

        http://bankrupt.com/misc/Spig_I_93_Modif_Plan.pdf

On March 1, 2016, the Debtor filed a motion seeking an order
confirming the Chapter 11 plan over the objection and rejection of
the treatment of Grundy.  Even though Class 2 has rejected the
Plan, the Debtor moves that the plan be confirmed pursuant to the
provisions of 11 U.S.C. 1129 (b) on the following grounds:

   a. The Plan complies with all the provisions of 11 U.S.C.
1129(a), except subparagraph 8.

   b. The Plan does not unfairly discriminate against Grundy
National Bank, as it is in a class by itself and no other
similarly-situated creditor is treated in a more favorable manner
than Grundy National Bank.

   c. The Plan is fair and equitable as to Grundy National Bank
because it incorporates the settlement agreement reached between
the debtor, the guarantors, and the bank, and the debt, along with
the liens of the bank, pass through the Chapter 11 and are not
impaired by the Chapter 11 plan, except to the extent to which the
bank has agreed in the settlement agreement between the parties.

The Court held a hearing on the latest iteration of the Plan as
well as the objections by Grundy on March 3.

                  Grundy Objection and Rejection

Aside from submitting a ballot rejecting the Plan, Grundy National
Bank submitted an objection to confirmation of the Plan.  It noted
that the Amended Plan filed Dec. 31, 2015 did not incorporate the
settlement reached by the parties on Dec. 23.  The Amended Plan
only included the Settlement as an exhibit.

"Confirmation of the Plan would not make sense.  The Plan does not
provide for payment of Grundy National Bank's allowed, secured
claims; it violates the terms of the Settlement Agreement; and, it
is too vague to be implemented," the Bank argued in its
confirmation objection.

After the Debtor filed a "Non Material Modifications to Plan of
Debtor" ("Modified Plan") on Feb. 25, Grundy filed an objection
saying the Modified Plan violates the Settlement Agreement the
Debtor entered into with GNB, the Bankruptcy Code, the national and
local Bankruptcy Rules, and the due process of law required by the
14th Amendment to the U.S. Constitution.  The Modified Plan was
filed after voting creditors submitted their ballots, and only four
working days before the confirmation hearing.

According to Grundy:

   * The Debtor's Modified Plan attempts to correct some of the
deficiencies described in GNB's Objection to Confirmation of the
Plan but fails.

   * The Debtor failed to file the required certificate of service
required by Federal Rules of Bankruptcy Procedure 9014(b) and
7005(d) and Local Rule 2002-1 (A)(1).

   * Federal Rule of Bankruptcy Procedure 3019 (a) allows for
pre-confirmation modification of a Chapter 11 plan in limited
circumstances, which do not apply here, but even then proper notice
and hearing are required.

  * The Debtor has not filed nor obtained approval of a new
Disclosure Statement as required by 11 U.S.C. Sec. 1127 (c) and
1125.

   * The Debtor has not given the 28 day notice of a hearing on the
required new Disclosure Statement.

   * The Debtor has not given the required 28 day notice of a
hearing to consider the Modified Plan (see Federal Rules of
Bankruptcy Procedure 3019(a) and 2002 (b)(2) and Local Rule 2002-1
(A)(2)) and cannot do so until it gets a new Disclosure Statement
approved.

   * The creditors and other parties-in-interest have not been
given adequate information as required by 11 U.S.C. Sec. 1125 (b)
to allow them to understand the Modified Plan.

Attorney for the Debtor:

         Robert T. Copeland, Esq.
         COPELAND LAW FIRM, P.C.
         Post Office Box 1296
         Abingdon, VA 24212NOTICE
         Tel: (276) 628-9525
         E-mail: rtc@rcopelandlaw.com

Grundy National Bank's attorneys:

         Michael L. Shortridge, Esq.
         SHORTRIDGE AND SHORTRIDGE, P.C.
         329 W. Main St.
         Abingdon, VA 24210
         Tel: 276-628-5001
         Fax: 276-628-4009
         E-mail: shortridge4you@embarqmail.com

                        About Spig Industry

Spig Industry, LLC is a Bristol, Virginia-based manufacturer of
guard rails and other safety products.  The business began in 2007
when it was formed by two brothers, Josh and Chris Harman.  

The business grew rapidly, and in the year 2009 the company decided
to manufacture its own designed head end, because it felt that the
patents covering the unit were no longer valid.  Trinity believed
its patents were still valid and filed a lawsuit against Spig.  The
litigation was expensive, costing Spig $12 million.

Spig Industry, LLC filed a Chapter 11 bankruptcy petition (Bankr.
W.D. Va. 15-70310) in Roanoke, Virginia, on March 16, 2015, with
$21.0 million in assets against $11.7 million in debt.

The case is assigned to Judge Paul M. Black.  The Debtor tapped
Robert Tayloe Copeland, Esq., at Copeland Law Firm, P.C., in
Abingdon, Virginia, serves as counsel.

The U.S. Trustee has named an Official Committee of Unsecured
Creditors in the case.  The Committee retained Spilman Thomas &
Battle, PLLC as counsel.

                           *     *     *

Spig Industry has proposed a reorganization plan that lets
unsecured creditors choose to (i) receive payment in full if they
wait up to four years, or (i) receive 15 cents on the dollar if
they want payment immediately after the plan is confirmed.  A copy
of the Amended Disclosure Statement filed Dec. 31, 2015, is
available for free at:

     http://bankrupt.com/misc/Spig_Industry_86_Am_DS.pdf


ST MICHAEL'S: Has Until June 5 to Remove Pending Actions
--------------------------------------------------------
The Hon Vincent F. Papalia of the U.S. Bankruptcy Court for the
District of New Jersey extended until June 5, 2016, Saint Michael's
Medical Center, Inc., et al.'s time for the Debtors to file notices
of removal of the pending actions pursuant to 28 U.S.C. Section
1452 and Fed. R. Bankr. P. 9006 and 9027.

The Debtors are represented by:

         Michael D. Sirota, Esq.
         Gerald H. Gline, Esq.
         Ryan T. Jareck, Esq.
         COLE SCHOTZ P.C.
         Court Plaza North
         25 Main Street
         P.O. Box 800
         Hackensack, NJ 07602-0800
         Tel: (201) 489-3000
         Fax: (201) 489-1536

                About Saint Michael's Medical Center

Saint Michael's Medical Center, Inc., was incorporated in 2008 to
acquire St. Michael's Medical Center and 2 other now defunct
hospitals (Saint James Hospital and Columbus Hospital) was
acquired from Cathedral Healthcare System Inc., a New Jersey
nonprofit.

SMMC is a second tier subsidiary of Trinity Health Corporation.
The immediate sole corporate member of SMMC is Maxis Health System,
a Pennsylvania not-for-profit corporation.

Established by the Franciscan Sisters of the Poor in 1867, St.
Michael's Medical Center is a 357- bed licensed regional
tertiary-care, teaching, and research center in the heart of
Newark, New Jersey's business and educational district and is
accredited by The Joint Commission.

On Aug. 10, 2015, SMMC Inc. and three affiliated debtors each
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
New Jersey.  The cases are pending before the Honorable Vincent F.
Papalia, and the Debtors have requested that their cases be
jointly administered under Case No. 15-24999.

The Debtors tapped Cole Schotz P.C. as bankruptcy counsel;
EisnerAmper LLP as financial advisor; and Prime Clerk LLC as
claims and noticing agent.

SMMC estimated $100 million to $500 million in assets and debt.

United States Trustee Region 3, notified the United States
Bankruptcy Court for the District of New Jersey of the appointment
of Susan N. Goodman, RN JD, as patient care ombudsman in the
Chapter 11 case of Saint Michael's Medical Center, Inc., and its
debtor affiliates.

U.S. trustee for Region 3, appointed seven creditors of Saint
Michael's Medical Center Inc. and its affiliates to serve on the
official committee of unsecured creditors.   Andrew H. Sherman,
Esq., Boris I. Mankovetskiy, Esq., and Lucas F. Hammonds, Esq., at
Sills Cummis & Gross PC, represent the Committee.


SUNTECH AMERICA: IRS Objects to Plan Releases
---------------------------------------------
The United States, on behalf of the Internal Revenue Service, filed
an objection to Suntech America, Inc.'s Combined Disclosure
Statement and Chapter 11 Plan of Liquidation.  IRS, which asserts
an unsecured priority and general unsecured claim for $4,354, says
it objects to the third party non-debtor limitation of liability,
injunction and release provisions set forth in Article AXII of the
Plan.  The Plan provides that creditors who vote may opt out of
third party release provisions in the Plan but most of the IRS
claims are not in a voting class.  The IRS also objects to the Plan
to the extent that it (i) fails to preserve the setoff and
recoupment rights of the United States and (ii) provides for the
retention of exclusive jurisdiction over matters involving the
IRS.

The United States is represented by:

         Charles M. Oberly, III
         United States Attorney
         Ellen W. Slights
         Assistant U.S. Attorney
         1007 Orange Street, Suite 700
         P.O. Box 2046
         Wilmington, DE

                      About Suntech America

Headquartered in San Francisco, California, Suntech America, Inc.,
aka Suntech Power, an affiliate of Wuxi, China-based Suntech Power
Holdings Corp., was the main operating subsidiary of the Suntech
Group in the Americas and its primary business purpose was acting
as an intermediary for marketing, selling and distributing Suntech
Group manufactured products.

Suntech America, Inc., and Suntech Arizona, Inc. filed for Chapter
11 bankruptcy protection (Bankr. D. Del. Case Nos. 15-10054 and
15-10056) on Jan. 12, 2015.  Judge Christopher S. Sontchi presides
over the cases.

Mark D. Collins, Esq., Paul Noble Heath, Esq., William A.
Romanowicz, Esq., Zachary I Shapiro, Esq., at Richards, Layton &
Finger, P.A., serve as the Debtors' bankruptcy counsel.  Upshot
Services LLC is the Debtors' claims and noticing agent.

The Debtors estimated their assets at between $100 million and
$500
million, and their debts at between $100 million and $500 million.


SUNTECH AMERICA: Plan Confirmation Hearing Deferred
---------------------------------------------------
Suntech America, Inc., and its affiliated debtors scheduled a Feb.
25 hearing for confirmation of their proposed plan of liquidation.
The Debtors later announced that the hearing has been adjourned,
and that they have not yet secured a hearing date for the plan.

On Nov. 17, 2015, the Debtors, with the support of the Committee,
filed the Debtors' Combined Disclosure Statement and Chapter 11
Plan of Liquidation.

On Jan. 14, 2016, the Court entered an order approving the
Solicitation Procedures Motion and authorizing the Debtors to
solicit votes on the Combined Plan and Disclosure Statement.  The
Court set a Feb. 16 deadline for ballots and objections, and a Feb.
25 hearing to consider confirmation of the Plan.

On Feb. 5, 2016, the Debtors notified parties that the confirmation
hearing scheduled for Feb. 25 has been adjourned for 14 days to a
date and time to be scheduled at the Bankruptcy Court's
convenience.  The Debtors also stated that the voting deadline and
plan objection deadline have been extended to March 1, 2016.  The
Debtors said they will send a subsequent notice of the date and
time of the confirmation hearing once a date and time for the
adjourned confirmation hearing are secured.  According to the
docket and the Web site of the claims agent, the confirmation
hearing date is still to be determined.

On Feb. 19, 2016, the Debtors filed an omnibus objection to
disputed warranty-related claims solely for purposes of voting to
accept or reject the Plan.  The Debtors explained that they have
received claims on account of warranties provided by former
affiliate Wuxi Suntech Power Co., Ltd., to customers of
photovoltaic (PV) modules.  According to the Debtors, Wuxi has
agreed to honor the warranties with the same force, effect and
validity as such warranties existed prior to the sale of Wuxi to
Jiangsu Sunfeng Photovoltaic Technology Co., Ltd. in April 2014.
The Debtors have examined the disputed warranty claims and have
determined that such Claims seek recovery for amounts for which the
Debtors have no liability.

On March 4, Wuxi Suntech Power Co. Ltd., responded to the Omnibus
Objection, acknowledging that "Wuxi has agreed to reconfirm its
obligation to honor Old Wuxi's standard warranties in effect on the
day Wuxi purchased Old Wuxi's assets in the PRC with the same
force, effect and validity as such warranties existed against Old
Wuxi."  However, Wuxi objects to the Debtors' characterization that
the Disputed Warranty Claims "all relate to claims that arise
under, or are otherwise covered by, the Warranties."

As of March 9, the Court has not yet ruled on the Omnibus
Objection.

Counsel for Wuxi Suntech Power Co. Ltd.

         BUCHANAN INGERSOLL & ROONEY PC
         Peter J. Duhig
         919 North Market Street, Suite 1500
         Tel: (302) 552-4249
         Fax: (302) 552-4295
         E-mail: peter.duhig@bipc.com

              - and  -

         Louis T. DeLucia
         SCHIFF HARDIN LLP
         666 Fifth Ave., 17th Floor
         New York, NY 10103
         Tel: (212) 753-5000
         Fax: (212) 753-5044
         E-mail: ldelucia@schiffhardin.com

                           *     *     *

Judge Christopher Sontchi on Feb. 17, 2016 entered an order
scheduling an omnibus hearing date of April 11, 2016.  On Feb. 26,
2016, the Debtors announced that the omnibus hearing scheduled on
April 11 has been rescheduled at the direction of the Court to
April 27, 2016 at 1:00 p.m.

                        The Chapter 11 Plan

Suntech America, Inc., et al., filed with the U.S. Bankruptcy Court
for the District of Delaware a combined disclosure statement and
Chapter 11 plan of liquidation, which serve as the culmination of
extensive negotiations between the Debtors, the Official Committee
of Unsecured Creditors, The Solyndra Residual Trust and Wuxi
Suntech Power Co., Ltd./Suntech Power Asia Pacific.

Majority of the Debtors' assets have already been liquidated to
cash.  The Debtor has $16.3 million in cash and cash equivalents.

A plan settlement provides for the resolution of two significant
disputed claims against the Debtors (The Solyndra Residual Trust's
$1.5 billion Claim and Wuxi Suntech Power Co.'s approximate $145
million Claim).  The general unsecured claims of Solyndra and Wuxi
are allowed at $360,441,916 and these claimants have agreed to a
payment of $10,312,500 plus 60% of the total value of any
additional assets, for a 2.86% recovery.  Holders of other general
unsecured claims totaling $6 million are slated to recover 30%.
Holders of equity interests will receive the remaining cash after
distribution to holders of allowed claims have been made.

A black-lined version of the Combined Plan filed Jan. 14, 2016, is
available for free at http://bankrupt.com/misc/SUNTECHplan0114.pdf

                      About Suntech America

Headquartered in San Francisco, California, Suntech America, Inc.,
aka Suntech Power, an affiliate of Wuxi, China-based Suntech Power
Holdings Corp., was the main operating subsidiary of the Suntech
Group in the Americas and its primary business purpose was acting
as an intermediary for marketing, selling and distributing Suntech
Group manufactured products.

Suntech America, Inc., and Suntech Arizona, Inc. filed for Chapter
11 bankruptcy protection (Bankr. D. Del. Case Nos. 15-10054 and
15-10056) on Jan. 12, 2015.  Judge Christopher S. Sontchi presides
over the cases.

Mark D. Collins, Esq., Paul Noble Heath, Esq., William A.
Romanowicz, Esq., Zachary I Shapiro, Esq., at Richards, Layton &
Finger, P.A., serve as the Debtors' bankruptcy counsel.  Upshot
Services LLC is the Debtors' claims and noticing agent.

The Debtors estimated their assets at between $100 million and
$500
million, and their debts at between $100 million and $500 million.


SURGICAL CARE: Moody's Raises CFR to B1, Outlook Stable
-------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating of
Surgical Care Affiliates, LLC's to B1 from B2.  SCA's Probability
of Default Rating was also upgraded to B1-PD from B2-PD.
Concurrently, Moody's upgraded the senior secured credit facilities
to Ba3 from B1 and senior unsecured notes to B3 from Caa1.  The
Speculative Grade Liquidity Rating is affirmed at SGL-2.  The
outlook is stable.

The ratings upgrade primarily reflects Moody's expectation that
revenue and EBITDA growth at the company's existing and newly
acquired ambulatory surgical centers will contribute to earnings
growth and improved credit metrics.  Moody's expects SCA to sustain
debt to EBITDA below 5.0 times over the next 12 to 18 months.

These ratings were upgraded:

Surgical Care Affiliates, LLC:

  Corporate Family Rating to B1 from B2

  Probability of Default Rating to B1-PD from B2-PD

  Senior secured revolver expiring 2020 to Ba3 (LGD 3) from B1
   (LGD 3)

  Senior secured term loan B due 2022 to Ba3 (LGD 3) from B1
   (LGD 3)

  Senior unsecured notes due 2023 to B3 (LGD 5) from Caa1 (LGD 5)

Rating affirmed:

  Speculative Grade Liquidity Rating at SGL-2

                          RATING RATIONALE

SCA's B1 Corporate Family Rating reflects the company's moderate
financial leverage, adequate interest coverage and good free cash
flow.  Moody's anticipates that SCA will remain acquisitive in
order to gain scale and diversify product line services.  As such,
Moody's expects that free cash flow will be used primarily for
growth expansion and not debt repayment over the next 18 to 24
months.

The rating reflects favorable industry fundamentals over the longer
term.  Moody's expects insurance payers, including Medicare, to
continue driving patients to less expensive points of care, such as
ASCs.  The rating also benefits from the company's strong market
position and good case mix.

The stable outlook reflects Moody's expectation that SCA's
financial leverage will remain moderately high, but will benefit
from near-term acquisitions that will be funded primarily with
internally generated cash.  Moody's also expects that SCA will
maintain good liquidity.

Given SCA's relatively small size and service line concentration,
Moody's does not anticipate an upgrade of the ratings in the
near-term.  However, over the longer term, the ratings could be
upgraded if the company can significantly increase scale and
enhance revenue and earnings diversification.  Further, the ratings
could be upgraded if SCA maintains debt to EBITDA below 4.0 times
and sustains a measured approach towards debt-funded acquisitions
or shareholder initiatives.

The ratings could be downgraded if operational or reimbursement
challenges cause a significant deterioration in financial metrics
or the company undertakes a material debt-funded acquisition or
shareholder distribution.  More specifically, ratings could be
downgraded if Moody's expects debt to EBITDA to be sustained above
5.0 times or if liquidity weakens.

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

Surgical Care Affiliates, LLC, headquartered in Deerfield,
Illinois, operates one of the largest networks of surgical
facilities in the US, comprised of 193 surgical facilities,
including ambulatory surgery centers and seven surgical hospitals
as of Dec. 31, 2015.



T-REX OIL: Posts $1.5 Million Net Loss in Dec. 2015 Quarter
-----------------------------------------------------------
T-Rex Oil, Inc. reported a net loss of $1,504,405 for the quarterly
period ended December 31, 2015, from a net loss of $229,318 for the
same period in 2014.  The Company reported revenues of $102,612 for
the December 2015 quarter and none during the same period in 2014.

The Company posted a net loss of $2,995,105 for the nine months
ended December 31, 2015 and an accumulated deficit of $14,052,077
at December 31, 2015.  At December 31, 2015, the Company had a
working capital deficit of $947,830.

A copy of the Company's Form 10-Q Report is available at
http://is.gd/nlh0j6

T-Rex Oil said its future success is dependent on its ability to
attract additional capital and ultimately, upon its ability to
develop future profitable operations.  There can be no assurance
that the Company will be successful in obtaining such financing, or
that it will attain positive cash flow from operations.  Management
believes that actions presently being taken to revise the Company's
operating and financial requirements provide the opportunity for
the Company to continue as a going concern.

B F Borgers CPA PC, in Denver, Colo., the Company's independent
registered public accounting firm, which audited the Company's
financial statements as of March 31, 2015, and for each of the
years in the two-year period then ended, raised substantial doubt
about the Company's ability to continue as a going concern in a
July 14, 2015 letter to the Company's board of directors and
stockholders.  The letter was filed with the Securities and
Exchange Commission together with the Company's revised Annual
Report on Form 10-K delivered to the Commission in December.

B F Borgers said the Company's significant operating losses raise
substantial doubt about its ability to continue as a going concern.
The Company's fiscal year ends March 31.

At Dec. 31, 2015, the Company had total assets of $14,829,253
against total liabilities of $1,735,552 and stockholders' equity of
$13,093,701.

T-Rex Oil, Inc., fka Rancher Energy Corp., is an energy company,
focused on the acquisition, exploration, development and production
of oil and natural gas.


TANDOORI AT TRANSIT: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Tandoori at Transit, Inc.
           dba "Tandoori's Royal Indian Cuisine"
           dba "The Palms Banquets"
        7740 Transit Road
        Williamsville, NY 14221

Case No.: 16-10413

Chapter 11 Petition Date: March 7, 2016

Court: United States Bankruptcy Court
       Western District of New York (Buffalo)

Debtor's Counsel: Daniel F. Brown, Esq.
                  ANDREOZZI, BLUESTEIN, WEBER, BROWN, LLP
                  9145 Main Street
                  Clarence, NY 14031
                  Tel: 716-633-3200
                  Fax: 716-633-0301
                  E-mail: dfb@abfmwb.com

Estimated Assets: $50,000 to $100,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ravi Sabharwal, vice president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nywb16-10413.pdf


TASC INC: Moody's Affirms B2 CFR & Changes Outlook to Negative
--------------------------------------------------------------
Moody's Investors Service affirmed the ratings of TASC, Inc.
("TASC" which reports financial statements at its ultimate parent,
Engility Holdings, Inc.), including the Corporate Family Rating of
B2, and changed the rating outlook to Negative from Stable.  The
rating outlook revision follows performance weakness since the
February 2015 business combination between TASC and Engility.

Affirmations:

Issuer: TASC, Inc.

  Corporate Family Rating, Affirmed B2
  Probability of Default Rating, Affirmed B2-PD
  Speculative Grade Liquidity Rating, Affirmed SGL-3
  Senior Secured 1st lien Bank Credit Facility, Affirmed Ba3 LGD2
  Senior Secured 2nd lien Bank Credit Facility, Affirmed Caa1 LGD5

Outlook Actions:

Issuer: TASC, Inc.
  Outlook, changed to Negative from Stable

                        RATINGS RATIONALE

The rating outlook has been changed to Negative as lower organic
revenues (down 8% to 10%) and EBITDA margin (to around 9% reported
from 10%) are expected this year after having already contracted
during 2015.  In addition, the CEO's unanticipated departure of
last week could disrupt the company's effort to fix its performance
issues.  The revenue decline contrasts with other defense services
contractors who should report gradually rising sales in 2016 on
higher US defense spending.  TASC plans to limit its market share
loss by enhancing its new business development effort with staffing
additions and practice revisions.  Higher indirect costs in 2016
will likely result.  As well, a greater portion of TASC's revenues
this year will stem from cost-plus rather than (typically more
profitable) fixed price-based contracts.

The B2 CFR has been affirmed because TASC should generate
sufficient free cash flow to reduce debt by about $75 million in
2016, the US defense services industry has become more favorable
with increased budget level/visibility, and the incoming CEO, who
has been a member of TASC's and subsequently Engility's Board of
Directors, is a seasoned executive with a strong defense
contracting background.  Further, while TASC's revenues have been
soft, contract performance has not been a problem.  No significant
contract re-compete or new contract wins are necessary to achieve
the envisioned $2.1 billion in 2016 revenues.  Low scheduled debt
amortization until term loans begin to mature in 2020 provides TASC
financial flexibility to pursue marketing improvement.

Credit metrics, while weaker than we had expected at this point
following the merger, should remain supportive if better revenue
and margin traction take hold by early 2017.  A reasonably good
conversion rate of the existing bid pipeline will be critical to
revenue stability by 2017.  For 2016 Moody's anticipates
debt/EBITDA at mid 5x, EBITDA/interest of 1.8x and FCF/debt in the
high single digit percentage range.

The rating could be downgraded with a softer revenue view, EBITDA
margin below mid 10%, annual free cash flow of less than $80
million, low covenant headroom or liquidity weakness otherwise.

Stabilization of the rating outlook would likely depend on
expectation of at least flat revenues, with funds from operation
above $100 million (CFFO before the change in net working capital
and net long term assets) and an adequate liquidity profile.

Upward rating momentum would depend on rising backlog, revenues
approaching $2.5 billion, funds from operation closer to $150
million, debt/EBITDA at mid 4x level and good liquidity.

Engility Holdings, Inc., headquartered in Chantilly, Virginia is
the ultimate parent of TASC, Inc.  Engility provides integrated
solutions and services for the U.S. government, supporting
customers throughout defense, intelligence, space, federal civilian
and international communities.  Engility is majority-owned by
entities of General Atlantic and Kohlberg Kravis Roberts. Revenue
in 2015, pro forma for the February 2015 business combination with
TASC, was about $2.25 billion.

The principal methodology used in these ratings was Global
Aerospace and Defense Industry published in April 2014.


THERAPEUTICSMD INC: Presents Data From Phase 3 Rejoice Trial
------------------------------------------------------------
TherapeuticsMD, Inc. presented detailed results from the phase 3
Rejoice Trial for its TX-004HR product candidate at separate
upcoming investor and medical conferences.  TX-004HR is an
applicator-free vaginal estradiol softgel drug candidate for the
treatment of moderate to severe vaginal pain during sexual
intercourse (dyspareunia), a symptom of vulvar and vaginal atrophy
(VVA) due to menopause.

According to the presentation, TX-004HR at 4, 10 and 25 mcg
demonstrated a positive benefit/risk profile for the proposed
indication of "treatement of moderate to severe dyspareunia, a
symptom of vulvar and vaginal atrophy due to menopause."

Sebastian Mirkin, M.D., chief medical officer of TherapeuticsMD led
the presentation.

Copy of the Presentation can be accessed for free at:

                     http://is.gd/dN2NHK

                     About TherapeuticsMD

Boca Raton, Florida-based TherapeuticsMD, Inc. (OTC QB: TXMD) is a
women's healthcare product company focused on creating and
commercializing products targeted exclusively for women.  The
Company currently manufactures and distributes branded and generic
prescription prenatal vitamins as well as over-the-counter
vitamins and cosmetics.  The Company is currently focused on
conducting the clinical trials necessary for regulatory approval
and commercialization of advanced hormone therapy pharmaceutical
products designed to alleviate the symptoms of and reduce the
health risks resulting from menopause-related hormone
deficiencies.

For the year ended Dec. 31, 2015, the Company reported a net loss
of $85.07 million on $20.1 million of net revenues compared to a
net loss of $54.2 million on $15.0 million of net revenues for the
year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $73.7 million in total assets,
$10.7 million in total liabilities, all current, and $63.1 million
in total stockholders' equity.


TOWN SPORTS: S&P Lowers CCR to 'SD' on Debt Repurchase
------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Town Sports International Holdings Inc. to 'SD'
from 'B-'.  S&P also lowered its issue-level rating on subsidiary
Town Sports International LLC's term loan due 2020 to 'D' to
reflect the distressed restructuring that S&P views as tantamount
to default.  S&P expects that the issue-level rating on the term
loan will remain at 'D' given the term loan will remain subject to
distressed repurchases under an amendment to the company's credit
facility that allows them.

"The downgrade reflects our conclusion that Town Sports' debt
repurchase is equivalent to a distressed restructuring and
tantamount to default," said Standard & Poor's credit analyst Emile
Courtney.

The company repurchased an aggregate $30 million in face value of
its term loan under an amendment to its credit facility that allows
the repurchases, at an average price of 37% of par, for about $11
million.  S&P views this purchase as a distressed restructuring of
the company's debt for the following reasons:  The price at which
Town Sports repurchased its loan is far below par at an average
price of 37% of par; the company's operations are troubled and
undergoing a turnaround transition; the company is experiencing
negative free cash flow, the current market capitalization of the
company is significantly below the level of reported cash on the
balance sheet (approximately $30 million market cap as of March 7,
2016, compared to $76 million in cash at December 2015); and the
issuer credit rating was very low at 'B-' with a negative outlook.

S&P plans to raise the corporate credit rating from 'SD' as soon as
practical, likely within a few days, to a level that will reflect
the ongoing risk of a conventional default.


TRAC INTERMODAL: Moody's Assigns Caa1 Rating on $485MM Sr. Notes
----------------------------------------------------------------
Moody's Investors Service assigned a Caa1 rating to TRAC Intermodal
LLC's planned $485 million senior secured second lien notes due
2021.  The Second Lien Notes are being issued to fund a $325
million dividend and redeem TRAC's $150 million 11% Senior Secured
Notes due 2019.  Should the transaction proceed as planned, Moody's
expects to downgrade TRAC's corporate family rating (CFR) to B2
from B1 and withdraw the ratings on TRAC's existing $150 million
senior secured second lien notes.  Moody's has also assigned an
SGL-3 rating to TRAC.  The outlook is stable.

                         RATINGS RATIONALE

The Caa1 rating on the Second Lien Notes reflects TRAC's high
financial leverage and less predictability in the cash flow going
forward.  Pro forma for the increased debt, Moody's anticipates
that TRAC's leverage will be about 7.0 times debt to EBITDA.

The chassis leasing industry has changed in the last several years
to a potentially more volatile model of shared pools by multiple
users at a daily rate, rather than the more stable model that had
relied on long term leases.  The new model has yet to be tested
through a downcycle, wherein TRAC would experience capacity and
pricing pressure, in Moody's view.  In addition, Moody's believes
the liquidation value of the company's fleet in a stressed scenario
would be insufficient to make lenders whole.

The stable outlook anticipates that TRAC, as the largest
independent North American lessor of chassis, will efficiently
manage its fleet during the current period of moderating freight
volumes to support margin and cash flows.  As such, the cash flow
we expect TRAC to generate will enable the company to lower debt to
EBITDA through calendar year 2017.

The ratings could be downgraded if Moody's expects EBIT margins to
fall to 15%, or debt to EBITDA is not lowered below 5.0 times on a
sustained basis, EBIT to Interest of less than 1.3 times or
persistently negative free cash flow and a deterioration in
liquidity could also result in a ratings downgrade.

The ratings could be upgraded if the company were to repay a
substantial portion of its debt, while improving operating margins
and maintaining an appropriate balance of fleet size to underlying
demand, such that debt to EBITDA declines below 4.5 times, EBIT to
Interest approaches 2.0 times, and Retained Cash Flow to Debt would
exceeds 15%.

Moody's assigned these ratings:

Issuer: TRAC Intermodal LLC:

  Proposed 5-year Second Lien Senior Secured Notes, Caa1 (LGD5)
  Speculative Grade Liquidity Rating, SGL-3

TRAC Intermodal LLC, headquartered in Princeton, NJ, is a leading
provider of intermodal container chassis to the transportation
industry in North America.

The principal methodology used in these ratings was Global Surface
Transportation and Logistics Companies published in April 2013.


ULTRA PETROLEUM: In Default; E&Y Raises Going Concern Doubt
-----------------------------------------------------------
Yukon, Canada-based Ultra Petroleum Corp., said in a regulatory
filing that it expects to be in default under its credit agreement
on March 15, 2016, when it deliver its financial statements to the
lenders.

Ernst & Young LLP in Houston, Texas, the Company's independent
registered public accounting firm, said in a letter dated February
29, 2016, to the Company's board of directors and shareholders that
the Company's maturing credit agreement and debt covenant violation
raise substantial doubt about its ability to continue as a going
concern.  Ernst & Young audited the Company's consolidated balance
sheets, as of December 31, 2015 and 2014, and the related
consolidated statements of operations, shareholders' equity and
cash flows for each of the three years in the period ended December
31, 2015.

Ultra Petroleum said in its Annual Report on Form 10-K filed with
the Securities and Exchange Commission that continued low oil and
natural gas prices during 2015 have had a significant adverse
impact on its business, and as a result of its financial condition,
substantial doubt exists that it will be able to continue as a
going concern.

As of February 29, 2016, the total outstanding principal amount of
the Company's debt obligations was $3.76 billion, consisting of:

     $450.0 million of 2018 Notes;
     $850.0 million of 2024 Notes;
     $999.0 million under the Credit Agreement; and
      $1.46 billion of Senior Notes.

"We recently borrowed $266.0 million under the Credit Agreement,
which represented substantially all of the remaining undrawn amount
under the Credit Agreement. As a result, no material further
extensions of credit are available under the Credit Agreement. As
of February 29, 2016, the Company's cash on hand exceeds the amount
recently borrowed under the Credit Agreement. These funds are
intended to be used for general corporate purposes," the Company
said.

The Company's Credit Agreement contains covenants, including: a
consolidated leverage covenant pursuant to which Ultra Resources
must maintain a maximum ratio of its total funded consolidated debt
to its trailing four fiscal quarters' EBITDAX of 3.5 to 1.0; a PV-9
covenant pursuant to which Ultra Resources is required to maintain
a minimum ratio of the discounted net present value of its oil and
gas properties to its total funded consolidated debt of 1.5 to 1.0;
and a covenant requiring the Company to deliver annual, audited,
consolidated financial statements of the Company without a "going
concern" or like qualification or exception.  The Master Note
Purchase Agreement governing the Company's Senior Notes contains a
consolidated leverage ratio covenant similar to the consolidated
leverage ratio covenant in the Credit Agreement. The indentures
governing the Company's 2018 Notes and 2024 Notes contain an
interest charge coverage ratio pursuant to which the Company is
required to maintain a minimum ratio of its trailing four fiscal
quarters' consolidated EBITDA to total interest expense of no less
than 2.25 to 1.00 as a precondition to its incurring additional
indebtedness.

"Based on our EBITDAX for the trailing four fiscal quarters ended
December 31, 2015, we were in compliance with the consolidated
leverage ratio covenant in the Credit Agreement and the Master Note
Purchase Agreement at December 31, 2015 (the ratio was 3.37 to 1.00
at December 31, 2015). However, based on our estimates of forward
commodity prices and our most recent production forecasts, we
expect to breach the consolidated leverage covenant for the
trailing four fiscal quarters ended March 31, 2016. A violation of
this covenant can become an event of default under our debt
agreements and result in the acceleration of all of our
indebtedness," the Company said.

"Based on the net present value of Ultra Resources' oil and gas
properties and Ultra Resources' total funded consolidated debt at
December 31, 2015, we expect to breach the PV-9 ratio in the Credit
Agreement when we report whether or not we are in compliance with
the covenant on April 1, 2016. A violation of this covenant can
become an event of default under our debt agreements and result in
the acceleration of all of our indebtedness."

"A violation of this covenant can become an event of default under
our debt agreements and result in the acceleration of all of our
indebtedness," the Company said.

"Based on our EBITDA for the trailing four fiscal quarters ended
December 31, 2015, we were in compliance with the interest charge
coverage ratio in the indentures governing our 2018 Notes and our
2024 Notes at December 31, 2015," the Company said.  "However, if
commodity prices stay at or decline from recent levels or if we
fail to develop new properties and operate our existing properties
profitably or if our interest expense increases due to changes in
the agreements governing our indebtedness or due to breaches of the
covenants in the agreements governing our indebtedness, we may not
be able to continue to comply with this covenant during the next
twelve months. If we breach this covenant, our ability to incur
additional indebtedness will be limited, or we may not be able to
incur additional indebtedness at all."

"We cannot provide any assurances that we will be able to comply
with the covenants or to make satisfactory alternative arrangements
in the event we cannot do so. If we are unable to cure any such
default, or obtain a forbearance, a waiver or replacement
financing, and those lenders, or other parties entitled to do so,
accelerate the payment of such indebtedness or obligations, we may
consider or pursue various forms of negotiated restructurings of
our debt obligations and/or asset sales under court supervision
pursuant to a voluntary bankruptcy filing under Chapter 11 of the
U.S. Bankruptcy Code or the Canadian Bankruptcy and Insolvency Act,
which would have a material adverse effect on our business,
financial condition, results of operations and cash flows. Under
certain circumstances, it is also possible that our creditors may
file an involuntary petition for bankruptcy against us."


UNIFIEDONLINE INC: Has Going Concern Doubt Amid IWEB Loan Default
-----------------------------------------------------------------
UnifiedOnline, Inc., reported a net loss of $879,022 for the second
fiscal quarter ended Dec. 31, 2015, from a net loss of $459,661 for
the same period  in 2014.  Sales were $215,020 during the
three-months ended Dec. 31, 2015, compared to $223,631 during the
same period in 2014.

Total assets were $5,207,983 against total liabilities of
$11,138,620 at Dec. 31, 2015.  Shareholders' deficit was
$5,930,637.

UnifiedOnline said, "The Company had net losses and net cash used
in operating activities of $1,349,251 and $127,113, respectively,
for the six months ended December 31, 2015.  The Company also had
an accumulated deficit and stockholder's deficit of $56,046,142 and
$5,390,637 respectively at December 31, 2015. These matters raise
substantial doubt about the Company's ability to continue as a
going concern."

The Company said it is currently in default on the loans to IWEB
Growth Fund, and there is no guarantee that IWEB Growth Fund will
not enter a judgment against the Company.

On November 2, 2012 the Company entered into a Loan Agreement with
IWEB Growth Fund, a Virginia limited liability company established
by the Company's former independent directors.  Under the terms of
the Loan Agreement, IWEB Growth Fund agreed to make one or more
loans up to the total principal amount of $1.5 million. The lending
of any amounts under the Loan Agreement is conditioned upon the
negotiation of notes and related loan documents which contain terms
and conditions that are acceptable to the lender to be determined
at the time of the loans.  The Company agreed to grant IWEB Growth
Fund a security interest in its assets as collateral for these
loans.  

Between November 9, 2012 and July 11, 2013, IWEB Growth Fund lent
an aggregate of $186,000 under the terms of 9 separate Confession
of Judgment Promissory Notes. In Fiscal 2015, $1,000 was paid on
one of the notes.  These notes, which are identical in their terms
other than the dates and principal amounts, are for a one year term
and bear interest at 12% per annum payable at maturity. Embodied in
each of the notes is a confession of judgment which means that
should the Company default upon the payment of the note, the
Company has agreed to permit IWEB Growth Fund to enter a judgment
against it in the appropriate court in Virginia before filing suit
against the Company for collection of the amounts. Pursuant to the
terms of the Loan Agreement, the Company paid IWEB Growth Fund's
expenses of $1,500 for the preparation of the Loan Agreement and
related documents.  The Company used the net proceeds from these
initial loans for general working capital.

In October 2015, a forbearance agreement was reached between the
Company and UO! IP of NC, LLC which forbore its enforcement of
rights under the capital lease due to the existing defaults and
amended the payment terms of the lease.  A new section was added to
the lease pursuant to which the company agrees to pay an initial
Forbearance Fee of $60,000 payable in full on the final payment
date and a monthly Forbearance Fee equal to 1% of the principal
balance of the lease, calculated on the first day each month.  The
Monthly Forbearance Fee will accrue monthly and become due and
payable in full on the final payment date or the earlier prepayment
of the entire principal and accrued interest due under the lease.
The forbearance fee balance was $101,990 and $0 at December 31,
2015 and June 30, 2015, respectively.

According to the Company, management has established plans intended
to increase the sales of its products and services. Management
intends to seek new capital from new equity securities offerings to
provide funds needed to increase liquidity, fund growth, and
implement its business plan.  The Company, however, cautioned that
there is no assurances that it will be able to raise any additional
funds.

A copy of the Company's Form 10-Q for the quarterly period ended
December 31, 2015, is available at http://is.gd/Bn68mb

Fairfax, Va.-based UnifiedOnline, Inc., fka IceWEB, Inc., has three
wholly owned operating subsidiaries, Computers & Telecom, Inc. and
KCNAP, LLC -- collectively "CTC" -- and IceWEB Storage Corporation
(formerly known as Inline Corporation).  CTC provides wireless and
fiber broadband service, co-location space and related services and
operates a Network Access Point where customers directly
interconnect with a network ecosystem of partners and customers.
This access to Internet routes provides CTC customers improved
reliability and streamlined connectivity while significantly
reducing costs by reaching a critical mass of networks within a
centralized physical location.  Through IceWEB Storage, the Company
delivers on-line cloud computing application services, other
managed services such as Disaster Recovery, Archive Storage,
Redundant File Storage, Redundant Broadband Services and Business
Continuity Services.


US FOODS: S&P Raises Rating on $2.1BB Secured Loan to 'B'
---------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on Rosemont-Ill. based US Foods Inc. (USF).  The
outlook is stable.

"At the same time, we raised our issue-level rating on the
company's $2.1 billion senior secured term loan B to 'B' from 'B-'
and affirmed our 'BB-' and 'CCC+' issue-level ratings on the
company's $1.3 billion asset-backed revolving facility (ABL) and
$1.35 billion senior unsecured notes, respectively.  We revised the
recovery rating on the $2.1 billion senior secured term loan B to
'3', indicating our view that lenders could expect meaningful (50%
to 70%, at the lower half of the range) recovery in the event of a
payment default, from '5'.  We maintained our '1' recovery rating
on the company's $1.3 billion senior secured ABL (indicating our
view that lenders could expect 90%-100% recovery) and '6' recovery
rating on its $1.35 billion senior unsecured notes (indicating our
view that lenders could expect 0-10% recovery)," S&P said.

The rating affirmation reflects Standard & Poor's view of USF's
renewed focus after the Sysco merger termination, which S&P
believes includes cost savings initiatives that will result in
improved profitability.  "Despite losing a number of customers and
sales representatives during the failed merger process, and our
expectations for deflationary food cost headwinds, we believe the
company will navigate the intensely competitive environment with
the cost savings initiatives and modest case volume growth with
independent street operators, which are generally more profitable
than chain customers," said Standard & Poor's credit analyst
Brennan Clark.

Standard & Poor's ratings also assume USF's financial sponsor
ownership will result in continued weak credit metrics, including
debt to EBITDA well above 5x.  Notwithstanding USF's recent
disclosure that it could pursue an initial public offering, S&P
continues to assume its financial policy will favor shareholder
returns over meaningful permanent debt reduction, keeping debt to
EBITDA high, despite anticipated modest EBITDA growth.  S&P's
ratings do not presently factor in the potential for an IPO since
volatile capital markets may preclude a highly leveraged company
such as USF from successfully completing a transaction.  In
addition, should an IPO occur, the size, timing, and use of
proceeds are not clear.

S&P's stable outlook reflects its expectation that USF will
maintain steady operating performance in an intensely competitive
environment and improve credit ratios modestly, including leverage
in the high-6x area.  S&P believes the company will modestly
improve profitability through increased case volumes with higher
margin independent street operators, and from cost savings
initiatives.



US SILICA: Moody's Lowers CFR to B2, Outlook Remains Negative
-------------------------------------------------------------
Moody's Investors Service downgraded US Silica Company, Inc.'s
Corporate Family Rating to B2 from Ba3, its senior secured credit
facility to B2 from Ba3, and its Probability of Default Rating to
B3-PD from B1-PD.  The Speculative Grade Liquidity rating was
affirmed at SGL-2.  The rating outlook remains negative.

These actions were taken:

  Corporate Family Rating, downgraded to B2 from Ba3;

  $510 million senior secured 1st lien term loan B, downgraded to
   B2 (LGD3) from Ba3 (LGD2);

  $50 million senior secured revolving credit facility, downgraded

   to B2 (LGD3) from Ba3 (LGD2);

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

  Speculative Grade Liquidity rating, affirmed at SGL-2.

The rating outlook is negative.

                         RATINGS RATIONALE

U.S. Silica's B2 Corporate Family Rating and negative outlook
reflect the significant deterioration in key credit metrics and our
expectation of further deterioration in 2016 as a result of the
persistent challenges in the energy markets.  U.S. Silica's
adjusted EBITDA declined 45% in the year ended 2015 from 2014.
Adjusted debt-to-EBITDA increased to 6.0x from 2.7x, adjusted EBIT
to interest coverage declined to 1.1x from 6.4x for the same
periods, and adjusted operating margin also declined to 8.2% from
21.2% for the same periods.  In 2016, Moody's foresees material
reductions in E&P capital spending.  Oversupply continues in the
global oil markets, demand growth remains tepid, and the timing of
an oil price recovery is uncertain.

The company's CFR rating reflects its limited size, reliance on a
single commodity product, exposure to cyclical end markets and
reliance on the hydraulic fracturing industry for the majority of
its revenue and operating income.  Customer credit is becoming a
larger concern.  Customer credit is deteriorating and any extended
payments by customers could pressure U.S. Silica's cash flow.

The rating is supported by its strong market position in the
frac-sand industry and its good liquidity.  U.S. Silica has a large
cash balance and no near-term debt maturities.  The rating also
considers the contribution from U.S.  Silica's Industrial and
Specialty Products segment which represented 33% of total revenue
for the year ended 2015, its large and flexible mining operation,
and its ability to capture market share from the smaller sand
producers.  The company's credit profile benefits from its position
as one of the largest producers of industrial silica in the United
States, its extensive proven and probable reserves, strategically
located quarries and production facilities, developed logistical
network and long-standing customer relationships.

US Silica's SGL-2 reflects the company's good liquidity position
over the next 12 months.  At year-end 2015, the company's liquidity
was supported by approximately $277 million of cash, $22 million of
short-term investments and a $50 million senior secured revolving
credit facility which expires in July 2018.  The facility had no
borrowings and $3.3 million allocated for letters of credit as of
December 31, 2015, leaving $46.7 million available.  The company
has no near term debt maturities.  The $510 million Term Loan
Facility matures July 2020.  The company has generated negative
free cash flow over the past several years due to shareholder
dividends and capital investments in raw sand plants, resin coated
product facilities and transloading terminals.  For year ended Dec.
31, 2015, the company generated, as reported, $61.5 million of cash
from operations, but used $27 million to pay dividends and $53.6
million for growth and maintenance capital expenditures.  In 2016,
Moody's expects U.S. Silica to preserve cash by using cash only for
maintenance cap ex and cost improvement initiatives.  Moody's still
expects the company to pay a quarterly dividend.  Moody's liquidity
scenario does not account for any potential acquisitions which U.S.
Silica might pursue.  The company's revolving credit facility is
governed by a total net leverage covenant of no more than 3.75x
whenever usage of the revolving credit facility exceeds 25% of the
revolver commitment, excluding certain undrawn letters of credit.
Moody's do not expect the company to be subject to this springing
financial covenant over the next 12 months.

Moody's indicated the rating outlook could be returned to stable if
the oil and natural gas end markets stabilize such that drilling
activity increases and operating performance improves.  In
addition, adjusted operating margin above 7.5%, adjusted EBIT to
interest expense sustained above 1.5x and positive free cash flow
generation would also support a stable rating outlook.

The ratings could be downgraded if operating results deteriorate
such that adjusted debt-to-EBITDA increases beyond 8.0x, without
near-term visibility to improvement, most likely due to persistent
weakness in the oil and natural gas end market.  Should the company
aggressively pursue growth through leveraged acquisitions, engage
in shareholder friendly activity that would negatively impact
liquidity, especially during this period of weakness in the oil and
natural gas end markets, the ratings would be downgraded. Finally,
if the company's cash cushion declines materially, the ratings
would be downgraded.

The principal methodology used in these ratings was Building
Materials Industry published in September 2014.

Based in Frederick, Maryland, U.S. Silica operates 17 silica mining
and processing facilities and is one of the largest producers of
industrial silica sand in North America.  The company holds
approximately 400 million metric tons of reserves, including 222
million tons of API spec frac sand.  The company is organized into
two segments: (1) Oil & Gas Proppants (Oil & Gas), which serves the
oil & gas industry, and (2) Industrial & Specialty Products (ISP),
which serves the foundry, automotive, building products, sports and
recreation, glassmaking and filtration industries.  Oil & Gas
generated 67% of 2015 revenue and ISP generated 33%.  For the year
ended Dec. 31, 2015, the company generated approximately $643
million of revenue.


USA DISCOUNTERS: Committee's Challenge Period Extended to March 29
------------------------------------------------------------------
The Official Committee of Unsecured Creditors in USA Discounters'
Chapter 11 case has so far negotiated three extensions of its
"challenge period" set forth in the Court's final order authorizing
the Debtor to use the cash collateral of prepetition secured
lenders, which are led by Wells Fargo Bank, N.A., as prepetition
agent.  The Debtors have stipulated that they owe lenders $60
million as of Petition Date.  The Final Cash Collateral Order gave
the Committee until Nov. 2, 2015, to challenge the amount owed by
the company to its pre-bankruptcy lenders or the validity of liens
held by those lenders.  The Committee later signed a stipulation
with the Debtors and Wells Fargo to extend the challenge period to
Nov. 30, then another stipulation for an extension until Jan. 29,
2016, and a third stipulation extending the deadline to March 29.
The stipulations were entered by the parties as part of their
desire to save costs and expenses of addressing issues through
litigation or otherwise.

In connection with the investigation of the secured parties' liens
and security interests, the Committee disputes the perfection of
certain liens of the secured parties with respect to these assets:

   1. USAD's right and interest in commercial tort claims against
parties other than the Prepetition Agent and Secured Parties.

   2. USAD's right, title and interest in intellectual property.

   3. USAD's right, title and interest in real property
leaseholds;

   4. USAD's right, title and interest in motor vehicles;
   
   5. All right, title and interest in to any real or personal
property of USA Discounters Holding Company, Inc., filed at CA
15-11753 and USA Discounters Credit LLC filed at CA No. 15-11754;p
and

   6. USAD's right, title and interest in and to amounts on deposit
on the Petition Date at all banking institutions other than Wells
Fargo.

According to the Third Stipulation, the Challenge Period is further
extended solely with respect to a challenge with respect to the
Disputed Assets and the Disputed Asset Liens through and including
March 29, 2016.

Counsel to Wells Fargo Bank

         BLANK ROME LLP
         Regina Stango Kelbon
         Alan M. Root
         1201 Market Street, Suite 800
         Wilmington, DE 19801
         Tel: (302) 425-6400
         Fax: (302) 425-6464
         E-mail: Kelbon@BlankRome.com
                 Root@BlankRome.com

Counsel to the Creditors Committee:

         KLEHR HARRISON HARVEY BRANZBURG LLP
         Domenic E. Pacitti, Esq.
         919 Market Street, Suite 1000
         Wilmington, DE 19801
         Tel: (302) 426-1189
         Fax: (302) 426-9193
         E-mail: dpacitti@klehr.com

               - and -

         KELLEY DRYE & WARREN LLP
         Eric R. Wilson, Esq.
         Jason R. Adams, Esq.
         101 Park Avenue
         New York, NY
         Tel: (212) 808-7800
         Fax: (212) 808-7897
         E-mail: ewilson@kelleydrye.com
                 jadams@kelleydrye.com

                       About USA Discounters

USA Discounters was founded in May 1991. in the City of Norfolk,
Virginia, under the name USA Furniture Discounters, Ltd.  It sold
goods through two groups of stores -- one group of specialty
retail
stores operating under the "USA Living" brand, typically in
standalone locations, and seven additional retail stores operating
under the "Fletcher's Jewelers" brand, typically in major shopping
malls.

USA Discounters, Ltd., and two affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 15-11755) on
Aug. 24, 2015, to wind down the business.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys, and Kurtzman Carson
Consultants, LLC, as claims and noticing agent.

USA Discounters Ltd. disclosed total assets of $97,490,455 plus an
undetermined amount and total liabilities of $63,011,206 plus an
undetermined amount.

The Official Committee of Unsecured Creditors is represented by
Kelly Drye & Warren LLP as lead counsel, Khler Harrison Harvey
Branzburg LLP as its Delaware co-counsel.  FTI Consulting, Inc.,
serves as its financial advisor.


VARIANT HOLDING: Disclosure Statement Hearing Set for March 30
--------------------------------------------------------------
Judge Brendan L. Shannon will convene a hearing on March 30, 2016,
at 10:30 a.m., ET, to consider Variant Holding Company, LLC, et
al.'s motion for approval of the disclosure statement explaining
their Chapter 11 plan of liquidation and the proposed solicitation
procedures.  Objections and responses to the Solicitation Motion
are due March 23, 2016 at 4:00 p.m. ET;

As reported in the March 2, 2016 edition of the TCR, Variant
Holding and its subsidiary debtors have filed a Chapter 11 plan of
liquidation and accompanying disclosure statement, which, among
other things, (a) contemplate a sale of the Debtors' principal real
estate assets and distribution of the proceeds consistent with the
priority scheme under the Bankruptcy Code and the Beach Point
Settlement Agreement, and (b) provides for a Plan Administrator to
liquidate or otherwise dispose of the Estates' remaining assets.

Certain of the Debtors have entered into the Beach Point Purchase
Agreement, which contemplates a purchase price of $195,000,000 for
certain assets, subject to higher and better bids.  The Plan
incorporates the terms of the sale.

Under the Plan, holders of Class 5 - General Unsecured Claims
Against the Property-Owning Debtors will recover 100% of their
total allowed claims, while holders of Class 6 - General Unsecured
Claims Against Variant and the Intermediate Debtors will recover
3%-8% of their allowed claims, assuming all claimants opt into
voluntary settlement distribution, and 0%, absent settlement
distribution.

A full-text copy of the Disclosure Statement dated Feb. 28, 2016,
is available at http://bankrupt.com/misc/VARIANTds0228.pdf

The Debtors request that the Confirmation Hearing be held during
the week of May 9, 2016.

The Plan was filed by Richard M. Pachulski, Esq., Maxim B. Litvak,
Esq., and Peter J. Keane, Esq., at Pachulski Stang Ziehl & Jones
LLP, in Wilmington, Delaware, on behalf of the Debtors.

                      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.


VERMILION ENERGY: S&P Affirms 'BB-' CCR Then Withdraws Rating
-------------------------------------------------------------
Standard & Poor's Rating Services said it affirmed its 'BB-'
long-term corporate credit rating on Calgary, Alta.-based Vermilion
Energy Inc.  Standard & Poor's then withdrew the rating at the
company's request.

"The affirmation reflects our view of Vermilion's weak business
risk profile, which is unchanged from our previous assessment, and
significant financial risk profile," said Standard & Poor's credit
analyst Michelle Dathorne.  The company's cash flow and leverage
metrics have improved due to the relative stability of the prices
for its European production, as well as the depreciating Canadian
dollar.  Standard & Poor's had previously rated Vermilion's C$225
million senior unsecured debt, which the company repaid Feb. 11,
2016.

The rating on Vermilion reflects Standard & Poor's view of the
company's small, albeit broadly diversified, international oil and
gas upstream operations; Vermilion's high unit production and
full-cycle costs; and its weakened cash flow adequacy and leverage
profile.  S&P believes the company's strong profitability metrics,
which benefit from Brent benchmark based pricing for its liquids
and gas production outside North America; its adequate liquidity
position; and improved cash flow and leverage metrics somewhat
offset these weaknesses.

Vermilion is an exploration and production company with extensive
international operations.  The company operates in seven countries:
Australia, Canada, France, Ireland, Germany, the Netherlands, and
the U.S. It produces light and medium oil, natural gas, and natural
gas liquids.


VULCAN MATERIALS: S&P Raises Rating on Unsecured Notes From 'BB+'
-----------------------------------------------------------------
Standard & Poor's Ratings Services said it raised its rating on
Birmingham, Ala.-based aggregates producer Vulcan Materials Co. to
'BBB' from 'BB+'.  The outlook is stable.

In addition, S&P raised its issue-level ratings on the company's
senior unsecured notes to 'BBB' (the same as the corporate credit
rating) from 'BB+'.

"The stable outlook reflects our expectation that Vulcan will
continue to improve operating performance over the course of 2016,
resulting in leverage and FFO to debt of 2x-2.5x and approximately
30%, respectively," said Standard & Poor's credit analyst Pablo
Garces.  "The stable outlook further reflects our view that many of
Vulcans end markets, including infrastructure, residential, and
nonresidential construction will experience moderate growth in the
next 24 months."

An upgrade could occur if Vulcan is able to achieve and maintain
debt-to-EBITDA leverage of less than 2x, as well as reach and
sustain FFO to debt of more than 45%, levels in line with a modest
financial risk profile.  S&P views such events as unlikely given
our belief that the company would engage in shareholder friendly
policies (increased dividends, share repurchases) or accelerate
debt-funded acquisitions if its leverage were to improve to such a
point.

While unlikely, S&P could lower its rating on Vulcan if it
significantly underperforms in 2016 or 2017, to the extent that
EBITDA declines cause leverage to increase to 4x.  S&P believes a
recessionary environment would be required to lead to such events;
specifically, a drastic drop in revenues by 30% and concurrent
erosion of margins by 300 basis points would be necessary in order
to envision such a scenario.



WASHINGTON MUTUAL: Steering Committee Members Enter Into Mediation
------------------------------------------------------------------
Between July and October 2015, a mediation (the "First Mediation")
took place between the members of the Steering Committee ("Steering
Committee") of the Ad Hoc Committee of Washington Mutual Bank
("WMB") Senior Note Holders and certain holders ("Institutional
Investors") of residential mortgage-backed securities ("RMBS")
sponsored by WMB.  Among other terms, the last proposal made by the
Steering Committee to the Institutional Investors, reflected in a
proposed memorandum of understanding, included an allowed unsecured
claim against the WMB Receivership in the amount of approximately
$2.28 billion on behalf of the WMB RMBS trusts for which Deutsche
Bank National Trust Co. ("Deutsche Bank") serves as trustee (not
including trusts with mortgage repurchase liability claims for
which Washington Mutual Mortgage Securities Corporation is
obligor).  Other terms and conditions of the last proposal
included, but were not limited to, provisions regarding the
possible reduction of Deutsche Bank's claims against the WMB
Receivership in the event of a successful appeal in the WMB
Litigation, the payment of counsel fees, and various procedural
details.  It was contemplated that the terms would be reflected in
an executed memorandum of understanding, and then would be fully
documented in settlement agreements that would include Deutsche
Bank and the FDIC.  The Steering Committee and the Institutional
Investors have not executed the memorandum of understanding or any
settlement agreement.  An agreement between the parties to the
First Mediation was meant to be a step towards a global settlement
of the claims asserted by Deutsche Bank on behalf of certain WMB
RMBS trusts in the action Deutsche Bank Nat’l Trust Co. v. FDIC,
et al., No. 09-1656 (D.D.C.), and of the indemnity claims asserted
against the WMB Receivership by JPMorgan Chase Bank N. A.
("JPMorgan") (collectively, the "WMB Litigation").  The members of
the Steering Committee understand that a mediation among the named
parties to the WMB Litigation (the "Second Mediation") commenced in
December 2015.  The members of the Steering Committee further
understand that the legal and financial advisors to the Ad Hoc
Committee may have information regarding the Second Mediation, but
no information regarding that mediation has been shared with
members of the Steering Committee.

                     About Washington Mutual

Based in Seattle, Washington, Washington Mutual Inc. --
http://www.wamu.com/-- was the holding company for Washington
Mutual Bank as well as numerous non-bank subsidiaries.

Washington Mutual Bank was taken over on Sept. 25, 2008, by U.S.
government regulators.  The next day, WaMu and its affiliate, WMI
Investment Corp., filed separate petitions for Chapter 11 relief
(Bankr. D. Del. 08-12229 and 08-12228, respectively).  WaMu owns
100% of the equity in WMI Investment.


[*] Fitch Lowers Ratings on 24 Bonds in 10 CMBS Deals to 'D'
------------------------------------------------------------
Fitch Ratings, on March 8, 2016, took various rating actions on
already distressed U.S. commercial mortgage-backed securities
(CMBS) bonds. Fitch downgraded 24 bonds in 10 transactions to 'D',
as the bonds have incurred a principal write-down. The bonds were
all previously rated 'CC' or 'C', which indicates that losses were
considered probable or inevitable.

Fitch has also withdrawn the ratings on three classes in one
transaction as a result of realized losses. The trust balances have
been reduced to $0 or have experienced non-recoverable realized
losses and are no longer considered by Fitch to be relevant to the
agency's coverage.

KEY RATING DRIVERS

The downgrades are limited to just the bonds with write-downs. Any
remaining bonds in these transactions have not been analyzed as
part of this review. In cases where the last rated tranches of a
transaction are in default and rated 'D', the defaulted ratings
will be automatically withdrawn within 11 months of the date of the
previous rating action.

A spreadsheet detailing Fitch's rating actions on the affected
transactions is available at 'www.fitchratings.com' by performing a
title search for: 'Fitch Downgrades or Withdraws Ratings on
Distressed Classes in 11 U.S. CMBS Transactions'.

RATING SENSITIVITIES

While the bonds that have defaulted are not expected to recover any
material amount of lost principal in the future, there is a limited
possibility this may happen. In this unlikely scenario, Fitch would
further review the affected classes.

DUE DILIGENCE USAGE

No third party due diligence was provided or reviewed in relation
to this rating action.


[*] Fitch Says Personal Bankruptcies Set for Sixth Straight Drop
----------------------------------------------------------------
Reuters reported that total 2016 U.S. personal bankruptcy filings
are positioned to fall for a sixth consecutive year, according to
Fitch Ratings in a special report.  Fitch projects personal
bankruptcies to decline by roughly 6% to 8%, with stable
unemployment levels, sustained consumer discipline and continued
price growth in the housing sector driving the decline.  'The labor
market remains steady, consumer confidence is up and gas prices
figure to stay low for the foreseeable future, which should help
keep personal bankruptcy filings trending lower,' said Director
Herman Poon.


[*] Global Speculative-Grade Default Continues to Rise, Moody's Say
-------------------------------------------------------------------
Moody's Investors Service forecasts that the global
speculative-grade default rate will rise to 4.7% in one year from
the current 3.7%, a sign that the corporate default cycle has
turned.

Moody's also forecasts that the global speculative-grade default
rate will reach 4.3% in July 2016, surpassing its long-term average
for the first time since August 2010.

Low commodity prices continue to fuel defaults, with the Oil & Gas
and Metals & Mining sectors fueling the rise in the default rate.

"Of the 18 defaults since the start of the year, half have been in
commodity sectors," said Sharon Ou, a Moody's Vice President and
Senior Credit Officer.  "There were only 11 defaults during the
same period in 2015, with only one in commodity sectors."

Moody's expects the default rates in these sectors to remain high
among Moody's-rated issuers in the US, to 14.0% for Metals & Mining
sector and 9.1% for the Oil & Gas sector over the next 12 months.
Although Moody's forecasts lower default rates in Europe, those
sectors will continue to drive the default rate, according to the
report "Global speculative-grade default rate to surpass its
long-term average in five months."

"Two of the 10 defaults in February were of sizable amounts," said
Ou. "Pacific Exploration and Production Corp defaulted on $3.7
billion in debt, and Paragon Offshore plc defaulted on $2.3
billion."

The rise in defaults has also led to an increase in the trailing
12-month global speculative-grade default rate, which rose to 3.7%
in February from 3.5% in January and 2.1% a year ago.  The overall
default rate also increased year over year in the US and Europe.

Three out of the five leveraged loan defaults in February were in
the US, pushing the issuer-weighted US loan default rate to 2.4% in
February from 2.2% in January.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Lexington Business Centers Inc.
   Bankr. C.D. Cal. Case No. 15-29547
      Chapter 11 Petition filed December 31, 2015
         See http://bankrupt.com/misc/cacb15-29547.pdf
         represented by: Gerald Lewis Price, Esq.
                         E-mail: labe03@aol.com

In re S and L Holdings NW LLC
   Bankr. W.D. Wash. Case No. 15-17559
      Chapter 11 Petition filed December 31, 2015
         See http://bankrupt.com/misc/wawb15-17559.pdf
         represented by: Jacob D DeGraaff, Esq.
                         HENRY DEGRAAFF & MCCORMICK PS
                         E-mail: mainline@hdm-legal.com

In re AC I Toms River LLC
   Bankr. S.D.N.Y. Case No. 16-22023
      Chapter 11 Petition filed January 8, 2016
         See http://bankrupt.com/misc/nysb16-22023.pdf
         represented by: Arnold Mitchell Greene, Esq.
                ROBINSON BROG LEINWAND GREENE GENOVESE & GLUCK, PC
                         E-mail: amg@robinsonbrog.com

In re Robert Marshall
   Bankr. C.D. Cal. Case No. 16-10486
      Chapter 11 Petition filed February 19, 2016
         Represented by: M Jonathan Hayes, Esq.
                         SIMON RESNIK HAYES LLP
                         E-mail: jhayes@srhlawfirm.com

In re Felahy Law Group, APC
   Bankr. C.D. Cal. Case No. 16-12068
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/cacb16-12068.pdf
         represented by: Todd B Becker, Esq.
                         LAW OFFICES OF TODD B BECKER
                         E-mail: brief@beckerlawgroup.com

In re 129 Arrowhead Circle, LLC
   Bankr. S.D. Fla. Case No. 16-12303
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/flsb16-12303.pdf
         represented by: David L. Merrill, Esq.
                         MERRILL PA
                         E-mail: dlmerrill@merrillpa.com

In re Ashley T Wallace and Sara J Wallace
   Bankr. E.D.N.C. Case No. 16-00859
      Chapter 11 Petition filed February 19, 2016
         represented by: Jonathan E. Friesen, Esq.
                         GILLESPIE & MURPHY, PA
                         E-mail: jef@friesenlaw.com

In re Alpha Diner Corp.
   Bankr. E.D.N.Y. Case No. 16-40648
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/nyeb16-40648.pdf
         represented by: Lawrence Morrison, Esq.
                         MORRISON TENENBAUM, PLLC
                         E-mail: lmorrison@m-t-law.com

In re Italian & French Pastry Shop, Inc.
   Bankr. E.D. Penn. Case No. 16-11085
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/paeb16-11085.pdf
         represented by: John A. Digiamberardino, Esq.
                         CASE & DIGIAMBERARDINO, PC
                         E-mail: jad@cdllawoffice.com

In re T.D. Iron Works Corp.
   Bankr. D.P>R. Case No. 16-01192
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/prb16-01192.pdf
         represented by: Rosana Moreno Rodriguez, Esq.
                         MORENO & SOLTERO LAW OFFICE, LLC
                         E-mail: rmoreno@morenosolterolaw.com

In re Sandwich D' Light Rincon PR, LLC
   Bankr. D.P.R. Case No. 16-01213
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/prb16-01213.pdf
         represented by: Enrique M Almeida Bernal, Esq.
                         ALMEIDA & DAVILA PSC
                         E-mail: info@almeidadavila.com

In re Euroderm Spa, Corp.
   Bankr. D.P.R. Case No. 16-01223
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/prb16-01223.pdf
         represented by: Luis E Correa Gutierrez, Esq.
                         CORREA BUSINESS CONSULTING GROUP, LLC
                         E-mail: lcorrea@correalawoffice.com

In re Folicure, Inc.
   Bankr. N.D. Tex. Case No. 16-30703
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/txnb16-30703.pdf
         represented by: Robert Thomas DeMarco, Esq.
                         DEMARCO-MITCHELL, PLLC
                         E-mail: robert@demarcomitchell.com

In re Arends Inspection LLC
   Bankr. S.D. Tex. Case No. 16-30847
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/txsb16-30847.pdf
         represented by: David J Sadegh, Esq.
                         LAW OFFICES OF DAVID J. SADEGH
                         E-mail: djsadegh@sadeghlaw.com

In re Compressor Products, Inc
   Bankr. S.D. Tex. Case No. 16-30851
      Chapter 11 Petition filed February 19, 2016
         Filed Pro Se

In re DEI Transportation, LLC
   Bankr. S.D. Tex. Case No. 16-70078
      Chapter 11 Petition filed February 19, 2016
         See http://bankrupt.com/misc/txsb16-70078.pdf
         represented by: Antonio Villeda, Esq.
                         VILLEDA LAW GROUP
                         E-mail: avilleda@mybusinesslawyer.com

In re Fernando Jesus Paonessa Lopez
   Bankr. D.P.R. Case No. 16-01234
      Chapter 11 Petition filed February 20, 2016

In re Michael A. Gral
   Bankr. E.D Wis. Case No. 16-21329
      Chapter 11 Petition filed February 20, 2016

In re Gral Holdings Key Biscayne, LLC
   Bankr. E.D. Wis. Case No. 16-21330
      Chapter 11 Petition filed February 20, 2016
         See http://bankrupt.com/misc/wieb16-21330.pdf
         represented by: Jonathan V. Goodman, Esq.
                         LAW OFFICES OF JONATHAN V. GOODMAN
                         E-mail: jgoodman@ameritech.net

In re Roy J Klebowicz and Norene Klebowicz
   Bankr. D.N.J. Case No. 16-13046
      Chapter 11 Petition filed February 21, 2016

In re Arjang K. Miremadi and Hamideh Miremadi
   Bankr. S.D. Cal. Case No. 16-00846
      Chapter 11 Petition filed February 22, 2016
         Represented by: Ahren Tiller, Esq.
                         BANKRUPTCY LAW CENTER
                         E-mail: atiller@blc-sd.com

In re New World Condominium Apartments IV Condominium Association
Inc.
   Bankr. S.D. Fla. Case No. 16-12401
      Chapter 11 Petition filed February 22, 2016
         See http://bankrupt.com/misc/flsb16-12401.pdf
         represented by: Jay M Gamberg, Esq.
                         GAMBERG & ABRAMS
                         E-mail: Lbernstein@gamberglaw.com

In re Z3 Sports Academy LLC
   Bankr. D. Haw. Case No. 16-00171
      Chapter 11 Petition filed February 22, 2016
         See http://bankrupt.com/misc/hib16-00171.pdf
         represented by: Chuck C. Choi, Esq.
                         WAGNER CHOI & VERBRUGGE
                         E-mail: cchoi@hibklaw.com

In re Burst Sound & Lighting Systems LLC
   Bankr. E.D. Mich. Case No. 16-42293
      Chapter 11 Petition filed February 22, 2016
         See http://bankrupt.com/misc/mieb16-42293.pdf
         represented by: Joseph L. Grima, Esq.
                         JOSEPH L. GRIMA & ASSOC. PC
                         E-mail: grimalaw@gmail.com

In re Alpine Mountain Resort Inc.
   Bankr. M.D. Penn. Case No. 16-00651
      Chapter 11 Petition filed February 22, 2016
         See http://bankrupt.com/misc/pamb16-00651.pdf          
represented by: Philip W. Stock, Esq.
                         LAW OFFICE OF PHILIP W. STOCK
                         E-mail: pwstock@ptd.net

In re Carnegie EMS, Inc.
   Bankr. W.D. Penn. Case No. 16-20593
      Chapter 11 Petition filed February 22, 2016
         See http://bankrupt.com/misc/pawb16-20593.pdf
         represented by: Robert S. Bernstein, Esq.
                         BERNSTEIN-BURKLEY, PC
                         E-mail: rbernstein@bernsteinlaw.com

In re La Casa Del Maestro Y El Estudiante, Inc.
   Bankr. D.P.R. Case No. 16-01241
      Chapter 11 Petition filed February 22, 2016
         See http://bankrupt.com/misc/prb16-01241.pdf
         represented by: Wigberto Mercado Barbosa, Esq.
                         MERCADO & CONAWAY LAW OFFICE
                         E-mail: lcdowmercado@yahoo.com

In re Luis F Jimenez Acevedo and Maria Del C Sanchez-Mieles
   Bankr. D.P.R. Case No. 16-01259
      Chapter 11 Petition filed February 22, 2016

In re Allan Andrew Copeland and Valerie Jean Copeland
   Bankr. C.D. Cal. Case No. 16-12183
      Chapter 11 Petition filed February 23, 2016
         represented by: Michael Avanesian, Esq.
                         AVANESIAN LAW FIRM
                         E-mail: michael@avanesianlaw.com

In re Robert Joel Roxberry and Clarissa Barbara Roxberry
   Bankr. S.D, Fla. Case No. 16-12454
      Chapter 11 Petition filed February 23, 2016

In re Butterfly Daycare, Inc.
   Bankr. D. Md. Case No. 16-12131
      Chapter 11 Petition filed February 23, 2016
         See http://bankrupt.com/misc/mdb16-12131.pdf
         represented by: Kim D. Parker, Esq.
                         LAW OFFICES OF KIM PARKER, PA
                         E-mail: kp@kimparkerlaw.com

In re Ocean Parkway Management Realty LLC
   Bankr. E.D.N.Y. Case No. 16-40673
      Chapter 11 Petition filed February 23, 2016
         Filed Pro Se

In re James Schecher
   Bankr. E.D.N.Y. Case No. 16-70675
      Chapter 11 Petition filed February 23, 2016

In re Kenneth Baker
   Bankr. S.D.N.Y. Case No. 16-10401
      Chapter 11 Petition filed February 23, 2016

In re SC Concretera Corp.
   Bankr. D.P.R. Case No. 16-01313
      Chapter 11 Petition filed February 23, 2016
         See http://bankrupt.com/misc/prb16-01313.pdf
         represented by: , Esq.
                         

In re Eddie Ortiz-Zayas
   Bankr. D.P.R. Case No. 16-01323
      Chapter 11 Petition filed February 23, 2016
                         

In re Pacific WebWorks, Inc.
   Bankr.D. Utah Case No. 16-21223
      Chapter 11 Petition filed February 23, 2016
         See http://bankrupt.com/misc/utb16-21223.pdf
         represented by: George B. Hofmann, Esq.
                         COHNE KINGHORN PC
                         E-mail: ghofmann@cohnekinghorn.com

In re Teresa A. Reed
   Bankr. W.D. Tex. Case No. 16-30254
      Chapter 11 Petition filed February 23, 2016

In re A-Frame Awards, Inc.
   Bankr. E.D. Mich. Case No. 16-30391
      Chapter 11 Petition filed February 24, 2016
         See http://bankrupt.com/misc/mieb16-30391.pdf
         represented by: Peter T. Mooney, Esq.
                         SIMEN, FIGURA & PARKER
                         E-mail: pmooney@sfplaw.com

In re Peninsula Holdings, LLC
   Bankr. D. Colo. Case No. 16-11466
      Chapter 11 Petition filed February 23, 2016
         See http://bankrupt.com/misc/cob16-11466.pdf
         filed Pro Se

In re The Austin House Property, LLC
   Bankr. M.D. Fla. Case No. 16-01443
      Chapter 11 Petition filed February 24, 2016
         See http://bankrupt.com/misc/flmb16-01443.pdf
         represented by: Buddy D. Ford, Esq.
                         BUDDY D. FORD, PA
                         E-mail: Nancy@TampaEsq.com

In re Manuel F Rodriguez, Jr.
   Bankr. M.D. Fla. Case No. 16-01444
      Chapter 11 Petition filed February 24, 2016

In re William Charles McDaniel, III and Crystal Gail McDaniel
   Bankr. N.D. Fla. Case No. 16-50050
      Chapter 11 Petition filed February 24, 2016

In re Paul Cashman Murphy, Jr.
   Bankr. S.D. Fla. Case No. 16-12574
      Chapter 11 Petition filed February 24, 2016

In re John T. McMahan
   Bankr. N.D. Ill. Case No. 16-06137
      Chapter 11 Petition filed February 24, 2016

In re Dilcia M. Mendez
   Bankr. D.N.J. Case No. 16-13306
      Chapter 11 Petition filed February 24, 2016

In re Watts Perfections, Inc.
   Bankr. W.D.N.C. Case No. 16-40057
      Chapter 11 Petition filed February 24, 2016
         See http://bankrupt.com/misc/ncwb16-40057.pdf
         represented by: Kerry L. Balentine, Esq.
                         MAXGARDNERLAW PLLC
                         E-mail: kbalentine@maxgardner.com

In re DiMarino P Daniel
   Bankr. S.D.N.Y. Case No. 16-22231
      Chapter 11 Petition filed February 24, 2016

In re Leslie Joe Wenninger and Cheryl Lynn Wenninger
   Bankr. W.D. Okla. Case No. 16-10560
      Chapter 11 Petition filed February 24, 2016

In re A&J Farm Stand LLC A&J Farm Stand LLC
   Bankr. D. Conn. Case No. 16-50266
      Chapter 11 Petition filed February 25, 2016
         See http://bankrupt.com/misc/ctb16-50266.pdf
         represented by: Paul S. Nakian, Esq.
                         PAUL S. NAKIAN LLC
                         E-mail: nakianlaw@aol.com

In re Wealth Mortgage Strategies, LLC
   Bankr. S.D. Fla. Case No. 16-12576
      Chapter 11 Petition filed February 25, 2016
         See http://bankrupt.com/misc/flsb16-12576.pdf
         represented by: Brett A Elam, Esq.
                         FARBER + ELAM, LLC
                         E-mail: belam@brettelamlaw.com

In re RCL, LLC
   Bankr. D. Haw. Case No. 16-00183
      Chapter 11 Petition filed February 25, 2016
         See http://bankrupt.com/misc/hib16-00183.pdf
         represented by: Jeffery S. Flores, Esq.
                         O'CONNOR PLAYDON & GUBEN LLP
                         E-mail: jsf@opglaw.com

In re James Samuel Dickey
   Bankr. D. Mass Case No. 16-40283
      Chapter 11 Petition filed February 25, 2016

In re St. Louis Metal and Recycling Company, Inc.
   Bankr. E.D. Mo Case No. 16-41211
      Chapter 11 Petition filed February 25, 2016
         See http://bankrupt.com/misc/moeb16-41211.pdf
         represented by: Richard J. Magee, Esq.
                         ECKENRODE-MAUPIN, ATTORNEYS AT LAW
                         E-mail: rmageelaw@gmail.com

In re St. Louis Metal and Recycling Company Inc
   Bankr. E.D. Mo. Case No. 16-41215
      Chapter 11 Petition filed February 25, 2016
         See http://bankrupt.com/misc/moeb16-41215.pdf
         represented by: Richard J. Magee, Esq.
                         ECKENRODE-MAUPIN, ATTORNEYS AT LAW
                         E-mail: rmageelaw@gmail.com

In re Live Wire Electric Company, LLC
   Bankr. E.D.N.C. Case No. 16-00965
      Chapter 11 Petition filed February 25, 2016
         See http://bankrupt.com/misc/nceb16-00965.pdf
         represented by: Clayton W. Cheek, Esq.
                         THE LAW OFFICES OF OLIVER & CHEEK, PLLC
                         E-mail: clayton@olivercheek.com

In re Kee-Ledbetter, Inc.
   Bankr. W.D.N.C. Case No. 16-40063
      Chapter 11 Petition filed February 25, 2016
         See http://bankrupt.com/misc/ncwb16-40063.pdf
         represented by: Kerry L. Balentine, Esq.
                         MAXGARDNERLAW PLLC
                         E-mail: kbalentine@maxgardner.com

In re Michael Dean Gatten
   Bankr. D.N.M. Case No. 16-10402
      Chapter 11 Petition filed February 25, 2016

In re Royal One, Inc.
   Bankr. W.D. Penn. Case No. 16-20630
      Chapter 11 Petition filed February 25, 2016
         See http://bankrupt.com/misc/pawb16-20630.pdf
         represented by: Francis E. Corbett, Esq.
                         E-mail: fcorbett@fcorbettlaw.com

In re Lura Dee Kirkland
   Bankr. W.D. Tex. Case No. 16-70027
      Chapter 11 Petition filed February 25, 2016

In re Stacey Anne Anstead
   Bankr. N.D. Cal. Case No. 26-50530
      Chapter 11 Petition filed February 25, 2016
         Filed Pro Se

In re Julio L Jimenez
   Bankr. D. Nev. Case No. 26-10892
      Chapter 11 Petition filed February 25, 2016
         represented by: Michael J. Harker, Esq.
                         E-mail: notices@harkerlawfirm.com

In re Larry K Heggerness
   Bankr. W.D. Wash. Case No. 26-10964
      Chapter 11 Petition filed February 25, 2016
         represented by: David Carl Hill, Esq.
                         LAW OFFICE OF DAVID CARL HILL
                         E-mail: bankruptcy@hilllaw.com


                            *********

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 ***