TCR_Public/160316.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, March 16, 2016, Vol. 20, No. 76

                            Headlines

ADVANCED MICRO: Fitch Cuts LT Issuer Default Rating to 'CCC'
AFFYMETRIX INC: Egan-Jones Hikes Sr. Unsecured Rating to BB
AMBAC FINANCIAL: Shareholder Begins Proxy Fight
ANADARKO PETROLEUM: Moody's Assigns Ba1 Rating on Proposed Notes
ANESTHESIA HEALTHCARE: Chapter 11 Case Dismissed

ANGLO IRISH: Ex-Bank Chief Extradited from U.S. to Face Charges
ARCHDIOCESE OF ST. PAUL: Wants More Parties to Review Abuse Claims
ARCHROCK PARTNERS: Moody's Lowers CFR to B1, Outlook Negative
ASP BLADE: Moody's Assigns B1 CFR, Outlook Stable
ASPECT SOFTWARE: March 18 Meeting Set to Form Creditors' Panel

AVIS BUDGET: S&P Assigns 'B+' Rating on $300MM Sr. Notes
AXION INTERNATIONAL: Community Bank Wins Stay Relief
AXION INTERNATIONAL: Court Approves Joint Administration of Cases
AXION INTERNATIONAL: UCC Challenge Period Extended to May 11
BASIC ENERGY: Egan-Jones Cuts Sr. Unsecured Rating to B+

BATE LAND & TIMBER: Opposes BLC Bid to Stay Plan Approval Order
BEAUTIFUL VIEW REALTY: Court Lifts Stay for Meilitz, BNY Mellon
BENJAMIN ASHMORE: Bankruptcy Didn't Deprive Tax Ct. of Jurisdiction
BERNARD L. MADOFF: Victims' Claims for Repayment Total $17.5-Bil.
BRIAR'S CREEK: Court Enters Final Decree Closing Chapter 11 Case

BUFFETS LLC: $4M Alamo Financing Has Interim Approval
BUFFETS LLC: Court Approves Joint Administration of Cases
BUFFETS LLC: Transfers Tahoe Joe's Employees to Non-Debtor
CANADIAN SOLAR: 2015 Results Support Ba2 CFR, Moody's Says
CANAL ASPHALT: Auction for Asphalt Plant Moved to April 18

CARDIAC SCIENCE: Court OKs Deadline to File Lease Rejection Claims
CHICAGO BOARD: S&P Maintains GO Bonds' 'B+' Rating on Watch Neg.
CLEAN HARBORS: Moody's Affirms Ba2 CFR, Outlook Stable
CLEAN HARBORS: S&P Affirms 'BB+' CCR, Outlook Stable
CLOUD PEAK: Moody's Lowers CFR to B3, Outlook Negative

CLUB AT SHENANDOAH: Chapter 11 Case Closed
CNH INDUSTRIAL: Moody's Assigns B1 Rating on $500MM Notes
CNH INDUSTRIAL: S&P Assigns 'BB' Rating on Proposed Sr. Notes
CONGREGATION BIRCHOS: Gets Approval to Hire Goldberg as Counsel
CONSOL ENERGY: Moody's Lowers CFR to B2, Outlook Negative

CONTINENTAL RESOURCES: Egan-Jones Cuts Sr. Unsecured Rating to B+
DDMG ESTATE: DIP Lenders Extend Forbearance Period to April 1
DEAN FOODS: S&P Affirms 'BB-' CCR & Revises Outlook to Positive
DETROIT CITY: S&P Affirms 'B' Rating on 1997 Tax-Increment Bonds
DETROIT DOWNTOWN: S&P Affirms 'BB' Rating on Bonds, Outlook Stable

DJ OILFIELD: Voluntary Chapter 11 Case Summary
DRD TECHNOLOGIES: Bankr. Administrator Wants Ch. 7 Case Conversion
EMPLOYBRIDGE HOLDING: S&P Affirms 'B-' CCR, Outlook Negative
EMRISE CORP: To Make 2nd Liquidation Distribution to Stockholders
ENERGY XXI: Debt Burden to Grow in Coming Years

EXTREME PLASTICS: Schedules $87.9M in Assets, $69.9M in Debt
FAIRMONT GENERAL: Trustee Gets Partial Win in Marion County Suit
FANNIE MAE & FREDDIE MAC: FHFA Turns to JPMDL to Delay Lawsuits
FANNIE MAE & FREDDIE MAC: New Shareholder Suits in Del. & Va. Cts.
FELD LIMITED: Associated Bank Objects to Cash Collateral Use

FMC TECHNOLOGIES: Egan-Jones Cuts Sr. Unsecured Rating to BB+
FOREST PARK FORT WORTH: $4M Loan From TBK Requires Sale by June
FOREST PARK FORT WORTH: Can Access Cash Collateral Until March 24
FOREST PARK MEDICAL: Hires Spector & Johnson as Counsel
FOREST PARK MEDICAL: Taps BlackBriar Advisors to Provide CRO

FRANKLIN INTERNATIONAL: Case Summary & Unsecured Creditor
FREEDOM ACADEMY: S&P Assigns 'BB' Rating on $6.1MM Revenue Bonds
FREEDOM COMMUNICATIONS: Selects $45.5-Mil. Lead Offer
GEORGE JOHNSON: Court Must Revisit Student Debt Dischargeability
GLOBAL PAYMENTS: Moody's Assigns Ba2 CFR & Rates $4.8BB Debt Ba2

GORDIAN MEDICAL: Court Enters Final Decree Closing Chapter 11
GRAHAM GULF: Has Final Authority to Use Cash Collateral
HARTFORD & SONS: Approval of Deal Isn't "Final" Order
HASHFAST TECHNOLOGIES: Bitcoins Not Dollars in Bankr. Court
HOLDER GROUP: Asks Court to Dismiss Chapter 11 Bankruptcy Case

HORSEHEAD HOLDING: Employs Lazard as Investment Banker
HORSEHEAD HOLDING: Taps Aird & Berlis as Canadian Counsel
HORSEHEAD HOLDING: Taps Epiq Bankruptcy as Administrative Advisor
HORSEHEAD HOLDING: Taps Pachulski Stang as Conflicts Counsel
HRK HOLDINGS: Exclusive Plan Filing Period Extended to May 14

I.E.C. RENTALS: Amends Schedules of Assets and Debt
INDIANA REGIONAL: Moody's Lowers Rating to Ba1; Outlook Negative
INTERNATIONAL TECHNICAL: Wants June 16 as Plan Filing Deadline
INTERPARK INVESTORS: Has Until June 13 to File Plan, Disclosures
J. CREW: TPG Said to Write Down Stake by 84% at End of 2015

KALOBIOS PHARMA: Offered Financing to Aid Drug Purchase
KEAHEY CARPENTER: Case Summary & 16 Largest Unsecured Creditors
KIRWAN OFFICES: Involuntary Chapter 11 Case Summary
KLX INC: Moody's Lowers CFR to B1, Outlook Stable
L. SCOTT APPAREL: Court Enters Default Judgment vs. Huize Trading

LB STEEL: Committee Objects to Validity of Lender's Liens
LB STEEL: Has Court Authority to Sell Assets for $11.7-Mil.
LEHR CONSTRUCTION: Plan Confirmed, Unsecureds to Get at Least 3%
LINN ENERGY: Says Bankruptcy "Unavoidable"
LINN ENERGY: Skips $60M Interest Payment, Has Going Concern Doubt

LONG BEACH MEDICAL: May 4 Hearing on Allocation of Sale Proceeds
MACCO PROPERTIES: Court Denies Bid to Dismiss "McGinnis"
MACCO PROPERTIES: Court Recommends Denial of Transfer of "McGinnis"
MADISON PAPER: 5th Mill to Shut Down in 2 Years
MEDIASHIFT INC: Exclusive Plan Filing Period Extended to May 27

METROPOLITAN AUTOMOTIVE: Court Approves Sale of Assets
MF GLOBAL: Underwriters Settle with Investors for $29.8-Mil.
MOLYCORP INC: Plan Confirmation Hearing to Begin March 29
NEWFIELD EXPLORATION: Egan-Jones Cuts Sr. Unsecured Rating to B+
NOAH E. ESTRADA: Court OKs Bid to Borrow $1-Mil.

NORANDA ALUMINUM: Sherwin Asks Court to Dismiss NBL's Ch. 11 Case
NORFE GROUP: Schedules $17.3M in Assets, $31.4M in Debt
NORTHERN BLIZZARD: S&P Affirms 'B' CCR, Outlook Stable
OKLAHOMA: Bond Market Rescue for Budget Woes Entices Governor
OUTER HARBOR: Has Final Authority to Obtain $9.5-Mil. DIP Loan

OUTER HARBOR: To Pay $141K Monthly to Terex as Adequate Protection
PARAGON OFFSHORE: Court Approves Joint Administration of Cases
PARAGON OFFSHORE: Has Final Approval to Use Cash Collateral
PAUL GREMILLION: Can Hire Anderson Firm as Counsel
PEABODY ENERGY: Bonds, Shares Soar to Highest Levels in Weeks

PETROLEUM PRODUCTS: U.S. Trustee Forms 5-Member Committee
PETTERS COMPANY: Stay of Substantive Consolidation Order Sought
PTAK PROPERTIES: Involuntary Chapter 11 Case Summary
QUANTUM FUEL: Hires Advisers Following Debt Default
RADIAN GROUP: S&P Raises ICR to 'BB-', Outlook Positive

RCS CAPITAL: Schedules $1.40B in Assets, $912M in Debt
RIVERSIDE PLAZA: Case Summary & 8 Unsecured Creditors
SABINE OIL: Seeks to Extend Access to Cash Collateral
SANCTUARY OF PRAISE: Case Summary & 10 Unsecured Creditors
SCARBOROUGH & HARGETT: U.S. Trustee Unable to Appoint Committee

SEPCO CORP: Schedules $60.7M in Assets, $619K in Debt
SHASTA ENTERPRISES: Sale of Redbanks Greenbelt Property Okayed
SUNDEVIL POWER: Court OK's May 4 Auction of Assets
TIERRA DEL REY: Property Refinancing to Fund Full-Payment Plan
TIERRA DEL REY: Secured Creditors Object to Revised Disclosures

TIERRA DEL REY: Seeks July 1 Extension of Plan Filing Date
TRANEN CAPITAL: Liquidation Proceedings Recognized in U.S. Courts
TRINITY TOWN: Schedules $25.2M in Assets, $21.6M in Debt
UNITED NATIONAL: March 24 Meeting Set to Form Creditors' Panel
VALEANT PHARMA: Delay in Filing Audited Results Add to Discord

VARIANT HOLDING: LFHC Discloses Zero Assets, $110M in Debt
WESTECH CAPITAL: Case Summary & 7 Unsecured Creditors
WESTERN DIGITAL: Fitch Assigns 'BB+' Issuer Default Rating
WHITEWATER PLAZA: Case Summary & 10 Unsecured Creditors
WINDSOR FINANCIAL: Gets Approval to Hire Lowenstein as Counsel

WINDSTREAM SERVICES: S&P Rates Proposed $400MM Sr. Sec. Loan 'BB'
WIRECO WORLDGROUP: Closing Most Operations in St. Joseph
XENONICS HOLDINGS: Sec. 341 Meeting Set for April 12
YBRANT MEDIA: Declares Bankruptcy Over Lycos-Related Lawsuit
YBRANT MEDIA: Voluntary Chapter 11 Case Summary

ZLOOP INC: U.S. Trustee Objects to Plan, Disclosure Statement

                            *********

ADVANCED MICRO: Fitch Cuts LT Issuer Default Rating to 'CCC'
------------------------------------------------------------
Fitch Ratings has downgraded and withdrawn the ratings for Advanced
Micro Devices, Inc. (AMD) including the Long-term Issuer Default
Rating (IDR) to 'CCC' from 'B-'.

Fitch's actions affect about $2.2 billion of total funded debt. A
rating Outlook is not assigned at the 'CCC' IDR level. Fitch has
withdrawn AMD's ratings for commercial reasons. Fitch reserves the
right in its sole discretion to withdraw or maintain any rating at
any time for any reason it deems sufficient.

KEY RATING DRIVERS

The downgrade reflects prospects for negative free cash flow (FCF)
over the intermediate term and the consequent liquidity issues and
refinancing risk that could develop as the 2019 and 2020 debt
maturities approach. Fitch's view is based on the execution risk
involved in AMD's strategic plan, the success of which largely
hinges on capturing share in the declining personal computer (PC)
market, gaining scale in the highly competitive $15 billion data
center market (where AMD currently operates a less than $300
million business), and accelerating growth in embedded and
semi-custom products.

Fitch believes that it will be difficult for AMD to generate
positive FCF at its current scale, given the significant costs
already taken out of the business. We estimate that AMD would need
to increase revenue by at least $700 million from its fiscal 2015
level of about $4 billion to generate positive FCF and approach an
EBITDA level that would support a viable capital structure at the
company's current debt load (in the context of low- to mid-30%
gross margins).

Despite management's guidance for growth in fiscal 2016, Fitch's
rating case assumes that AMD's revenue could decline again next
year, as many of the company's growth catalysts (design wins in
data center, ARM, IP monetization) are not expected to contribute
meaningfully to revenue until at least 2017. Another year of
declining revenue and negative FCF would place considerable
pressure on AMD to achieve outsized growth in 2017 and 2018 in
order to achieve EBITDA and FCF that would enable it to refinance
the $1.05 billion of debt maturities coming due in 2019 and 2020
(excluding the $230 million currently drawn on the revolver)
without a material reduction in existing debt terms.

Fitch does not expect AMD to experience liquidity issues over the
next 12-24 months based on cash on hand of $785 million as of Dec.
26, 2015, $320 million of net proceeds expected in first half 2016
(1H16) from the company's joint venture (JV) with Nantong Fujitsu
Microelectronics (NF), and $87 million of availability under the
company's asset-backed loan (ABL) credit facility. Fitch believes
liquidity could become a concern beginning in 2018 if AMD is unable
to offset legacy product declines with new design wins in its
growth segments. Following the contribution of the company's
assembly, test, mark and pack (ATMP) facilities to the JV with NF
and numerous sale leasebacks of office and industrial buildings
over the past several years, future asset monetization
opportunities appear to be limited, other than plans to license IP,
the financial impact of which has yet to be quantified.

AMD's Recovery Ratings (RRs) reflect Fitch's belief that the
company would be reorganized rather than liquidated in a bankruptcy
scenario. To arrive at a reorganization value, Fitch assumes a 5x
reorganization multiple and applies it to an estimate for
post-restructuring operating EBITDA of $300 million.

The recovery scenario reflects our belief that AMD would shed
exposure to legacy PC markets within the context of reorganization
and focus on higher-growth-client APUs, semi-custom servers,
high-end graphics and gaming-related royalties. This results in an
adjusted reorganization value of $1.35 billion after subtracting
administrative claims, and exceeds a projected liquidation value of
$803 million.

Fitch estimates AMD's post-reorganization ABL would be fully drawn
at reorganization, given still sizeable receivables, inventory and
PP&E. The $500 million senior secured ABL would then recover 100%,
resulting in an 'RR1' rating. Fitch estimates the approximately $2
billion of unsecured claims recover approximately 42%, resulting in
an RR of 'RR4'.

KEY ASSUMPTIONS

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

-- Mid-single-digit revenue decline in fiscal 2016 as ongoing
    weakness in Computing and Graphics offsets momentum in
    Enterprise, Embedded and Semi-Customer (EESC); low- to mid-
    single-digit revenue growth beginning in 2017 based on stable
    Computing and Graphics and acceleration in EESC as design wins

    in data center and semi-custom begin to materialize;

-- Gross margin approaching low 30% area;

-- Operating expenses remain between $320 million - $340 million
    per quarter;

-- FCF negative through 2018;

-- Capex margin of 2%

-- One-time cash inflow of $320 million in 2016 from JV with NF.

RATING SENSITIVITIES

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

LIQUIDITY

Liquidity as of Dec. 26, 2015 was adequate, with cash and cash
equivalents of $785 million, 90% of which is held in the U.S. AMD
also has a $500 million senior secured RCF, under which $87 million
was available at Dec. 26, 2015. Despite Fitch's expectations for
negative FCF, Fitch does not expect AMD to experience liquidity
issues over the next 12-24 months, based on cash on hand of $785
million, $320 million of net proceeds expected in 1H16 from the
company's JV with NF and $87 million of availability under the
company's ABL credit facility. AMD has $600 million of debt
maturing in 2019 and $450 million in 2020 (excluding the drawn
portion of its revolver due 2020). Fitch believes liquidity issues
could develop as these debt maturities approach if the company does
not experience a significant turnaround in operating performance.

Total debt as of Dec. 26, 2015 was $2.2 billion and primarily
consisted of:

-- $230 million drawn on a $500 million senior secured RCF due
    April 2020;
-- $600 million 6.725% senior unsecured notes due March 2019;
-- $450 million 7.75% senior unsecured notes due August 2020;
-- $475 million 7.5% senior unsecured notes due August 2022;
-- $500 million 8.125% senior unsecured notes due July 2024.

The following ratings have been downgraded and withdrawn:

Advanced Micro Devices, Inc.

-- Long-term Issuer Default Rating (IDR) to 'CCC' from 'B-';
-- Senior secured revolving credit facility to 'B'/'RR1' from
    'BB-'/'RR1';
-- Senior unsecured notes to 'CCC'/'RR4' from 'B-'/'RR4'.



AFFYMETRIX INC: Egan-Jones Hikes Sr. Unsecured Rating to BB
-----------------------------------------------------------
Egan-Jones Ratings Company raised the senior unsecured rating for
debt issued by Affymetrix Inc. to BB from BB- on March 2, 2016.

Affymetrix Inc. develops and manufactures DNA chip technology.


AMBAC FINANCIAL: Shareholder Begins Proxy Fight
-----------------------------------------------
Michael J. de la Merced, writing for The New York Times' DealBook,
reported that an activist shareholder in the Ambac Financial Group
kicked off a board fight at the insurance firm on March 14,
nominating three candidates for the company's board.

According to the report, the investor, Canyon Capital Advisors,
began its proxy fight after Ambac elevated its interim chief
executive, Nader Tavakoli, to its permanent chief.  Canyon, which
says that it owns nearly 5 percent of the company's shares, argued
that Ambac had suffered during Mr. Tavakoli's tenure, including a
42 percent drop in its stock price last year, the report related.
Ambac's expenses rose under Mr. Tavakoli despite its projecting
cost cuts during that same time, the report further related.

In a statement on March 14, Canyon said that it was nominating
Frederick Arnold, the chief financial officer of Convergex Group;
John R. Brecker, a director of ACA Financial Guaranty; and Eugene
I. Davis, chief executive of the Pirinate Consulting Group, the
report added.

                       About Ambac Financial

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

Ambac Financial filed a voluntary petition for relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No.
10-15973) in Manhattan on Nov. 8, 2010.

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

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

The Blackstone Group LP is the Debtor's financial advisor.
Kurtzman Carson Consultants LLC is the claims and notice agent.
KPMG LLP is tax consultant to the Debtor.

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

Bankruptcy Judge Shelley C. Chapman entered an order confirming
the Fifth Amended Plan of Reorganization of Ambac Financial Group,
Inc. on March 14, 2012.  The Plan provides for the full payment of
secured claims and 8.5% to 13.2% recovery for general unsecured
claims.  The second modified version of the confirmed Plan was
declared effective on May 1, 2013, with Ambac obtaining bankruptcy
court approval of a $100+ million claims settlement with the
Internal Revenue Service.


ANADARKO PETROLEUM: Moody's Assigns Ba1 Rating on Proposed Notes
----------------------------------------------------------------
Moody's Investors Service assigned Ba1 ratings to Anadarko
Petroleum Corporation's proposed offering of senior notes. Proceeds
from the new notes offering will be ultimately used to refinance
$1.75 billion of senior notes that mature in September 2016.  All
existing ratings of Anadarko, including the Ba1 Corporate Family
Rating (CFR), and the negative rating outlook are unchanged.

"Anadarko is proactively refinancing its upcoming debt maturities
with this senior notes offering, supporting its liquidity in this
weak commodity price environment," commented Pete Speer, Moody's
Senior Vice President.

Assignments:

Issuer: Anadarko Petroleum Corporation

  Senior Unsecured Regular Bond/Debentures, Assigned Ba1 (LGD 4)

                          RATINGS RATIONALE

The new senior notes have been rated Ba1, consistent with the
ratings of Anadarko's existing senior notes and the senior notes of
its guaranteed subsidiaries: Kerr-McGee Corporation (Kerr-McGee)
and Union Pacific Resources Group Inc.'s (UPR).  The new notes are
unsecured and have no subsidiary guarantees, consistent with
Anadarko's other senior notes and its committed revolving credit
facility.

The Kerr-McGee and UPR notes are guaranteed by Anadarko, but those
subsidiaries do not guarantee Anadarko's debts.  Consequently, the
Anadarko senior notes and other debts are structurally subordinated
to the senior notes at Kerr-McGee and UPR with respect to the
specific assets held at those entities or their subsidiaries.
Since the Anadarko notes are structurally subordinated to only a
portion of the company's consolidated assets, Moody's has not
notched down the notes and rated them consistent with the company's
Ba1 CFR.

Anadarko's Ba1 CFR reflects the company's substantially lower
forecasted cash flow generation under Moody's commodity price
estimates, high debt levels relative to cash flow and Moody's
expectation of some production declines caused by reduced capital
investment.  These concerns are partially offset by the company's
low operating and reserve replacement costs, allowing Anadarko to
replace reserves at lower break-even commodity prices than many of
its large E&P peers.  The company benefits from a globally
diversified property base that includes a mix of conventional and
unconventional onshore and offshore resources, which provides a
lower overall production decline rate and capital intensity than
peers focused solely on unconventional onshore US properties.

This notes offering will address a meaningful amount of Anadarko's
large debt maturities in 2016 and 2017.  The company has adequate
liquidity, supported by its inventory of undeveloped discoveries
and equity ownership in Western Gas Equity Partners (unrated) that
provide saleable assets even in a more challenging industry
environment.

The negative outlook reflects Anadarko's very weak cash flow based
credit metrics through 2017 and the execution risk on asset sales
necessary to improve the financial leverage metrics and maintain
adequate liquidity in this challenging industry environment.

The rating could be downgraded if RCF/Debt does not improve towards
15% in 2017 or if the company does not maintain adequate liquidity
in advance of its debt maturities.  The rating could be upgraded if
RCF/debt is sustained above 20% and the LFCR is greater than 1x.

The principal methodology used in these ratings was Global
Independent Exploration and Production Industry published in
December 2011.

Anadarko Petroleum Corporation is an independent exploration and
production (E&P) company based in The Woodlands, Texas.


ANESTHESIA HEALTHCARE: Chapter 11 Case Dismissed
------------------------------------------------
The U.S. Bankrptcy Court for the Northern District of Georgia has
dismissed the Chapter 11 case of Anesthesia Healthcare Partners,
Inc., et al.

As reported by the Troubled Company Reporter, the U.S. Trustee for
Region 21 requested that the Court dismiss the cases, or, in the
alternative, converting the cases under Chapter 7 of the Bankruptcy
Code.

The U.S. Trustee pointed out that although the Chapter 11 cases
have been pending for over eight months, the Debtors have not yet
proposed a Chapter 11 plan, and upon information and belief, they
place the ability to reorganize and do not presently intend to file
a chapter 11 plan.  Furthermore, according to the U.S. Trustee,
there appears to be no possibility that unsecured creditors could
benefit from further administration of the case, because SunTrust
Bank asserts a blanket lien on the Debtors' assets as security for
a claim that, upon information and belief, is substantially greater
than the value of those assets.

Failure or inability to propose a plan within a reasonable period
of time constitutes cause for dismissal or conversion of a chapter
11 case under 11 U.S.C. Sec. 1112(b), the U.S. Trustee maintained.

The U.S. Trustee also noted that the Debtors have filed no monthly
operating reports accounting for their receipts, disbursements and
other operating results since November 2014.  The U.S. Trustee
avers that the Debtors' failure to file such reports in a timely
manner is violative of their statutory obligations under 11 U.S.C.
Sec. 704(a)(2)& (8), made applicable to them as debtors in
possession by 11 U.S.C. Sections 1106(a)(1) and 1107, and
constitutes cause for dismissal or conversion of the cases under 11
U.S.C. Sec. 1112(b)(4)(F)&(H).

                   About Anesthesia Healthcare

Anesthesia Healthcare Partners, Inc. and its affiliates filed
Chapter 11 petitions (Bankr. N.D. Ga. Case No. 14-59631) in Atlanta
on May 15, 2014.  The cases are assigned to Judge Wendy L.
Hagenau.

The Debtors tapped Theodore N. Stapleton, Esq., at Theodore N.
Stapleton, P.C., in Atlanta, as counsel.  The Debtors also engaged
Carl Marks Advisory Group, Inc., to provide the services of F.
Duffield Meyercord as Chief Restructuring Officer Sean Lynch of
Suwannee, Georgia, the CEO of the company, owns 100% of the common
stock.

In its schedules, Anesthesia Healthcare listed $19,632,440 in total
assets and $11,827,716 in total liabilities.


ANGLO IRISH: Ex-Bank Chief Extradited from U.S. to Face Charges
---------------------------------------------------------------
Dow Jones' Daily Bankruptcy Review, citing Agence France-Presse,
reported that a former top bank chief returned to Ireland on Monday
after being extradited from the United States to face 33 charges
over a financial collapse that cost the Irish state EUR30
billion($33 billion).

According to the report, David Drumm, the ex-chief executive of
Anglo Irish Bank, appeared in court for the first time as he awaits
possible trial on a series of allegations including false
accounting and fraud dating back to 2008 and 2009.

The Irish Times previously reported that Mr. Drumm had been due in
court on Feb. 8, but bad weather forced the hearing's postponement.
The hearing was rescheduled to begin at 8:00 p.m. Irish time Feb.
11.

According to The Irish Times, the State is seeking his extradition
to face 33 charges arising from transactions carried out during
his time at Anglo, which he led in the period before its collapse
in 2009.

                       About Anglo Irish

Anglo Irish Bank was an Irish bank headquartered in Dublin from
1964 to 2011.  It went into wind-down mode after nationalization
in 2009.  In July 2011, Anglo Irish merged with the Irish
Nationwide Building Society, with the new company being named the
Irish Bank Resolution Corporation (IBRC).

Standard & Poor's Ratings Services lowered its long- and short-
term counterparty credit ratings on Irish Bank Resolution Corp.
Ltd. (IBRC) to 'D/D' from 'B-/C'.   S&P also lowered the senior
unsecured ratings to 'D' from 'B-'.  S&P then withdrew the
counterparty credit ratings, the senior unsecured ratings, and
the preferred stock ratings on IBRC.  At the same time, S&P
affirmed its 'BBB+' issue rating on three government-guaranteed
debt issues.

The rating actions follow the Feb. 6, 2013, announcement that the
Irish government has liquidated IBRC.

The former Irish bank sought protection from creditors under
Chapter 15 of the U.S. Bankruptcy Code on Aug. 26, 2013 (Bankr.
D. Del., Case No. 13-12159).  The former bank's Foreign
Representatives are Kieran Wallace and Eamonn Richardson.  Its
U.S. bankruptcy counsel are Mark D. Collins, Esq., and Jason M.
Madron, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware.


ARCHDIOCESE OF ST. PAUL: Wants More Parties to Review Abuse Claims
------------------------------------------------------------------
The Archdiocese of Saint Paul and Minneapolis and the Official
Committee of Unsecured Creditors (the "UCC") filed a stipulated
motion for an order designating additional parties as permitted
parties authorized to review sexual abuse proof of claim forms.
The Court will hold a hearing on the motion on March 24, 2016 at
10:00 a.m.

The parties seek an order from the U.S. Bankruptcy Court for the
District of Minnesota designating representatives authorized to
make settlement determination and attorneys and insurance companies
(and their attorneys) for non-debtor Catholic entities that are (1)
not already covered by a previous order designating "permitted
parties" in the case, and (2) implicated in a sexual abuse proof of
claim as "permitted parties" within the meaning of this Court's
April 17, 2015 order regarding the confidential handling and
viewing of Sexual Abuse Proof of Claim forms (the "Filing Deadline
Order").  Such entities include certain Catholic high schools that
are not Parishes.

Disclosure of claim information specific to the representatives and
attorneys for these entities is important in order to facilitate
these entities' participation in upcoming confidential mediation
sessions on March 22 and 23, 2016 and April 6, 7, and 8, 2016 and
other settlement discussions in the context of the global
resolution of sexual abuse claims.

On April 1, 2015, the Archdiocese moved the Court to set a deadline
for filing proofs of claim and for an order regarding the
confidential handling and viewing of Sexual Abuse Proof of Claim
forms.  Permitted parties include: (a) counsel for the Archdiocese;
(b) officers and employers of the Archdiocese who are necessary to
assist the Archdiocese and its counsel address issues with respect
to Sexual Abuse Claims; (c) counsel for the committee of unsecured
creditors; (d) insurance companies or their successors, including
any authorized claim administrators of such insurance companies,
that issued or allegedly issued polices to the Archdiocese and
their reinsurers and attorneys; (e) any future claims
representative appointed by the court in this case; (f) any
mediator, special arbitrator or claims reviewer appointed by the
court, including Judge Arthur Boylan, to review and resolve the
Sexual Abuse Claims; (g) any trustee appointed to administer
payments to Sexual Abuse Claimants; (h) authorized representatives
of a department of corrections with respect to a Sexual Abuse Claim
by a Sexual Abuse Claimant who is incarcerated but only to the
extent such disclosure is authorized under applicable
non-bankruptcy law; (i) members of the committee of unsecured
creditors and their personal counsel; (j) law enforcement in the
city or county where the Sexual Abuse Claim arose; (k) auditors of
the United States Conference of Catholic Bishops charged with
preparing annual audits of Archdiocesan compliance with the Charter
for the Protection of Children and Young People; and (l) such other
persons as the court determines should have the information in
order to evaluate Sexual Abuse Claims only upon a motion by the
Archdiocese or the committee of unsecured creditors.

Only permitted parties who have signed an agreed-upon
confidentiality agreement are authorized to review confidential
Sexual Abuse Proof of Claim forms.  The order states that the Court
may approve additional "permitted parties" upon motion.

The Court has previously expanded the list of who may be a
permitted party in accordance with this order -- i.e, for Parish
Committee counsel and counsel for insurers, for parish officials
who needed access to the alleged claims against their parish in
order to adequately perform their fiduciary duties to the entities
they serve in connection with the resolution of the claims, for
representatives of religious orders implicated in the mediation and
claims process and their counsel, and for specific members of the
Archdiocese finance council and board of directors.

In addition to certain other persons who already qualify as
permitted parties, to facilitate mediation of the case,
representatives and attorneys for certain non-debtor Catholic
entities implicated in sexual abuse proofs of claim have been asked
to participate in mediation sessions and other settlement
discussions related to the sexual abuse claims.  Such sessions are
likely to include discussion of information contained in Sexual
Abuse Proof of Claim forms.

Counsel for the UCC have agreed to add these individuals as
permitted parties to allow them to participate in the mediation
process and view sexual abuse proof of claim forms after signing
the previously agreed-upon confidentiality agreement.

The parties request entry of an order granting relief and ordering
that with respect to non-debtor Catholic entities that are (1) not
already covered by a previous order designating "permitted parties"
in this case and (2) implicated in a sexual abuse proof of claim,
the following persons are designated as "permitted parties"
pursuant to paragraph 8 of the court's April 17, 2015 order and are
authorized to review confidential Sexual Abuse Proof of Claim forms
upon execution of the agreed-upon confidentiality agreement:

  (a) Counsel for the non-debtor Catholic entity implicated in a
sexual abuse proof of claim,

  (b) Designated representatives of the non-debtor Catholic entity
implicated in a sexual abuse proof of claim authorized to make
settlement determinations on the non-debtor Catholic entity's
behalf,

  (c) Insurance companies or their successors, including any
authorized claim administrators of such insurance companies, that
issued or allegedly issued policies to the non-debtor Catholic
entity and their reinsurers and attorneys.

Attorneys for The Archdiocese of Saint Paul and Minneapolis:

         BRIGGS AND MORGAN, P.A.
         Richard D. Anderson
         Benjamin E. Gurstelle
         2200 IDS Center
         80 South 8th Street
         Minneapolis, MN 55402
         Telephone: (612) 977-8400
         Facsimile: (612) 977-8650
         E-mail: randerson@briggs.com
                 bgurstelle@briggs.com

Attorneys for the Official Committee of Unsecured Creditors:

         STINSON LEONARD STREET LLP
         Edwin H. Caldie
         Robert T. Kugler
         Edwin H. Caldie
         150 South Fifth Street, Suite 2300
         Minneapolis, MN 55402
         Telephone: (612) 335-1500
         Facsimile: (612) 335-1657

                About the Archdiocese of Saint Paul
                        and Minneapolis

The Archdiocese of Saint Paul and Minneapolis was originally
established by the Vatican in 1850 and serves a geographical area
consisting of 12 greater Twin Cities metro-area counties in
Minnesota, including Ramsey, Hennepin, Anoka, Carver, Chicago,
Dakota, Goodhue, Le Sueur, Rice, Scott, Washington, and Wright
counties.  There are 187 parishes and approximately 825,000
Catholic individuals in the region.  These individuals and
parishes are served by 3999 priests and 173 deacons.

The Archdiocese of St. Paul and Minneapolis filed for Chapter 11
protection (Bankr. D. Minn. Case No. 15-30125) in Minnesota on
Jan. 16, 2015, saying it has large and growing liabilities related
to child sexual abuse and that its pension obligations are
underfunded.

The Debtor disclosed $45,203,010 in assets and $15,890,460 in
liabilities as of the Chapter 11 filing.

The Debtor has tapped Briggs and Morgan, P.A., as Chapter 11
counsel; BGA Management LLC d/b/a Alliance Management as financial
advisor; Lindquist & Vennum LLP as attorney.

Eleven other dioceses have commenced Chapter 11 bankruptcy cases
in the United States to settle claims from current and former
parishioners who say they were sexually molested by priests.

U.S. Trustee for Region 12 appointed five creditors to serve on
the official committee of unsecured creditors.

The U.S. Trustee appointed five creditors to serve on the Committee
of Parish Creditors.  Ginny Dwyer appointed as the acting
chairperson of the committee until such time as the members can
meet and officially elect their own person.


ARCHROCK PARTNERS: Moody's Lowers CFR to B1, Outlook Negative
-------------------------------------------------------------
Moody's Investors Service downgraded Archrock Partners, L.P.'s
Corporate Family Rating to B1 from Ba3, Probability of Default
Rating to B1-PD from Ba3-PD and senior unsecured notes rating to B3
from B1.  The Speculative Grade Liquidity Rating remains SGL-3. The
rating outlook is negative.  This action resolves the review for
downgrade that was initiated on Jan. 21, 2016.

"The downgrade reflects declining cash flow and weakening leverage
resulting from lower fleet utilization and pricing pressure for
natural gas compression units," said Terry Marshall, Moody's Senior
Vice President.  "Archrock Partners' distribution coverage could
fall below 1x this year, resulting in debt-funded distributions."

Downgrades:

Issuer: Archrock Partners.

  Probability of Default Rating, Downgraded to B1-PD from Ba3-PD
  Corporate Family Rating, Downgraded to B1 from Ba3
  Senior Unsecured Regular Bond/Debenture, Downgraded to B3(LGD5)
   from B1(LGD5)

Outlook Actions:

Issuer: Archrock Partners.

  Outlook, Changed To Negative From Rating Under Review

                         RATINGS RATIONALE

Archrock Partners' B1 CFR reflects expected high leverage resulting
from the softness in utilization of natural gas compressors and
pricing pressure.  The current downturn in oil & gas prices has
resulted in E&P companies requesting price concessions from their
service providers, and in some cases shutting in production.
Moody's estimate of Archrock Partners' 2016 EBITDA will be about
10% lower than 2015, causing leverage to be around 5.1x in 2016 and
5.7x in 2017.  Moody's expects the company will generate negative
free cash flow of about $80 million in 2016 mainly due to its
distribution pay-outs of approximately $160 million.  Archrock
Partners' distribution coverage could fall below 1x in the second
half of 2016 unless the company chooses to cut the distribution.
The rating is supported by its leading market position in the US
natural gas contract compression business and cash flow that is
tied to production rather than drilling activity, which makes
Archrock Partners more stable than other oil field service
providers.

Archrock Partners' SGL-3 liquidity rating reflects adequate
liquidity through the first quarter of 2017.  As of Dec. 31, 2015,
Archrock Partners had roughly no cash and $320 million available
under its $900 million secured revolving credit facility, due May
2018.  Moody's expects roughly $100 million of negative free cash
flow through the fifteen months to March 31, 2017.  Compliance
under the senior debt leverage covenant (less than 4x) and the
EBITDA to interest coverage (above 2.75x) is expected to be
comfortable, but the total debt to EBITDA leverage covenant (less
than 5.25x) will be very tight.  Alternative sources of liquidity
are limited principally to the sale of Archrock Partners' existing
compressor units, which are largely encumbered.

In accordance with Moody's Loss Given Default (LGD) Methodology,
the senior unsecured notes are rated B3, two notches below the CFR,
reflecting the priority ranking of the $900 million senior secured
revolving credit facility and the $150 million senior secured term
loan in the capital structure.

The negative outlook reflects Moody's expectation that EBITDA will
weaken in 2016 and 2017 increasing leverage towards 6x and
distribution coverage below 1x.

The rating could be downgraded if leverage increases above 6x, the
distribution coverage is sustained below 1x or liquidity
deteriorates.

The rating could be upgraded if leverage approaches 4.5x with
distribution coverage sustainably above 1.2x.

Archrock Partners is the largest natural gas contract compression
services company in the US with a fleet of approximately 6,500
compressor units and 3.3 million available horsepower as of
Dec. 31, 2015.

The principal methodology used in these ratings was Global Oilfield
Services Industry Rating Methodology published in December 2014.


ASP BLADE: Moody's Assigns B1 CFR, Outlook Stable
-------------------------------------------------
Moody's Investors Service assigned a B1 Corporate Family Rating and
B2-PD Probability of Default Rating to ASP Blade Merger Sub, Inc.
(dba Blount International, Inc.).  Moody's also assigned a B1
rating to the company's proposed $550 million Senior Secured First
Lien Credit Facilities that are comprised of a $75 million
revolving credit facility due 2021 and $475 million term loan due
2023.  The rating outlook is stable.

The proceeds from the proposed $475 million term loan along with
$484 million of sponsor equity will be used to acquire Blount by
American Securities and P2 Capital at about 8.9x multiple (based on
Moody's adjusted EBITDA).  At the close of the transaction, ASP
Blade Merger Sub, Inc. will be merged into Blount International,
Inc. which will then become the borrower and all of the ratings
will be moved to Blount International, Inc.

These ratings were assigned (all ratings are subject to Moody's
review of final documentation):

  Corporate Family Rating, assigned B1;

  Probability of Default Rating, assigned B2-PD;

  $75 million Senior Secured Revolving Credit Facility due 2021,
   assigned B1 (LGD3);

  $475 million Senior Secured Term Loan due 2023, assigned B1
   (LGD3);

Rating outlook, assigned stable.

                         RATINGS RATIONALE

The B1 Corporate Family Rating is supported by Blount's consistent
free cash flow generation, recurring nature of its revenues,
dominant global market share along with strong brand recognition,
wide array of products, attractive end markets, and long operating
history (founded in 1946).  Globally, Blount manufactures and sells
over half of all saw chains and principally competes with only one
other manufacturer.  Many of Blount's products such as saw chains
must be replaced multiple times in a year when used by
professionals, leading to recurring revenue streams.  Furthermore,
the B1 Corporate Family Rating considers the significant equity
contribution of $484 million or approximately 50% of the total
transaction value by the private equity firms to finance the buyout
of Blount.  Therefore, Blount is well capitalized for the rating
category with pro forma debt to capitalization (unadjusted) of
around 50%.

At the same time, the rating is constrained by the company's
relatively high pro forma debt leverage of 5.1x for the B1 rating
category.  However, Blount is expected to apply its free cash flow
toward debt repayment and deleverage below 4.5x within the next
12-18 months which will place the company comfortably within its
rating category.  The rating is also constrained by the company's
exposure to volatile end markets, such as the agriculture industry
in the United States that is currently experiencing a downcycle.

The stable rating outlook reflects Moody's view that the company's
credit metrics will continue to improve over the next 12-18
months.

Positive rating action could be considered if the company's
adjusted debt to EBITDA declines below 4x on a sustained basis and
its adjusted EBITA coverage of interest increases above 3.5x on a
sustained basis while it maintains strong free cash flow generation
and good liquidity profile.

Negative rating action could be considered if the company is unable
to reduce its debt leverage following the buyout, specifically, if
debt to EBITDA rises above 5.5x.  In addition, dividend
distributions and other shareholder friendly activities,
deterioration in the company's liquidity profile, market share
loss, and debt financed acquisitions could place negative pressure
on the ratings.

The principal methodology used in these ratings was Global
Manufacturing Companies published in July 2014.

Blount International, Inc. is headquartered in Portland, Oregon and
is a manufacturer of equipment and replacement parts for the
forestry and agriculture industries.  Revenues and net income for
2015 were $829 million and $50 million, respectively.


ASPECT SOFTWARE: March 18 Meeting Set to Form Creditors' Panel
--------------------------------------------------------------
Andy Vara, United States Trustee of Region 3, will hold an
organizational meeting on March 18, 2016, at 10:00 a.m. in the
bankruptcy case of Aspect Software Parent, Inc., et al.

The meeting will be held at:
        
         J. Caleb Boggs Federal Building
         844 King St., Room 2112
         Wilmington, DE 19801

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.



AVIS BUDGET: S&P Assigns 'B+' Rating on $300MM Sr. Notes
--------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' issue-level
rating and '5' recovery rating to Parsippany, N.J.-based car and
truck renter Avis Budget Group Inc.'s $300 million senior notes due
2024.  The '5' recovery rating indicates S&P's expectation that
lenders would receive modest recovery (10%-30%; upper half of the
range) of their principal in the event of a payment default.

Avis Budget Car Rental LLC and Avis Budget Finance Inc. are issuing
the notes.  Both entities are indirect subsidiaries of Avis Budget
and will use the proceeds from this issuance to redeem the
company's senior notes due 2017.

S&P's ratings on Avis Budget reflect the company's position as one
of the largest global car rental companies and the
price-competitive and cyclical nature of on-airport car rentals.
S&P's ratings also incorporate the relatively stable cash flow that
the company's car rental business generates -- even during periods
of earnings weakness--and its substantial capital spending
requirements, which it has the ability to reduce if industry or
economic conditions warrant.  S&P assess the company's business
risk profile as fair and its financial risk profile as aggressive.

The stable outlook on Avis Budget reflects S&P's expectation that
the company's credit metrics will remain relatively consistent
through 2016, with an EBITDA interest coverage metric in the
mid-to-high 5x area, a funds from operations (FFO)-to-debt ratio in
the low-20% area, and a debt-to-EBITDA metric of around 4x.  S&P
could raise its ratings on Avis Budget over the next year if the
company's operating performance exceeds our expectations, based on
better than expected demand and pricing, causing its EBITDA
interest coverage metric to exceed 6x while its FFO-to-debt ratio
remains above 20% over a sustained period.  S&P believes that a
downgrade is unlikely over the next year; however, S&P could lower
its ratings on Avis Budget if industry conditions weaken, causing
the company's EBITDA interest coverage metric to fall to below 4.5x
on a sustained basis.

RATINGS LIST

Avis Budget Group Inc.
Corporate Credit Rating                      BB-/Stable/--

New Ratings

Avis Budget Car Rental LLC
Avis Budget Finance Inc.
$300 Million Senior Notes Due 2024           B+
  Recovery Rating                             5H



AXION INTERNATIONAL: Community Bank Wins Stay Relief
----------------------------------------------------
The Community Bank in February won an order providing that the
automatic stay imposed by 11 U.S.C. Sec. 362 in Axion
International, Inc., et al.'s cases is vacated with respect to
Community Bank.  Community Bank is entitled to exercise any and all
rights it may have under the Notes and Security Agreements
including, inter alia, initiating foreclosure proceedings and/or
taking possession of the equipment.

The Community Bank filed a motion asking the Court to allow it to
enforce its rights against collateral, or, in the alternative, to
compel adequate protection payments.  The Bank complained that the
Debtors continue to use the assets and equipment that serve as
collateral to the debt owed to Community Bank in their normal
operations.  The Bank says the Debtors have not made any payments
to it since Oct. 14, 2015.  The Debtors' debt now exceeds
$4,471,137, according to the bank.

The Bank is represented by:

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

                           About Axion

Axion International, Inc., Axion International Holdings, Inc., and
Axion Recycled Plastics Incorporated manufacture, market and sell
structural products and building materials, with an emphasis on
railroad ties and construction mats.  Using patented technology
and
proprietary know-how, they transform post-consumer and
post-industrial recycled plastics, such as high-density
polyethylene and glass-filled polypropylene, into products that
are
ideal replacements for similar products made from traditional
materials such as wood, steel or concrete.  Their manufacturing
facilities (both of which are leased) are located in Zanesville,
Ohio and Waco, Texas.

Axion International, Inc., Axion International Holdings, Inc. and
Axion Recycled Plastics Incorporated filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Proposed Lead Case No. 15-12415) on Dec.
2, 2015.  The petition was signed by Donald W. Fallon as chief
financial officer and treasurer.  The Debtors estimated both
assets
and liabilities in the range of $10 million to $50 million.

Bayard, P.A. represents and Debtors as counsel.  Epiq Bankruptcy
Solutions, LLC serves as the Debtors' claims and noticing agent.
Judge Christopher S. Sontchi has been assigned the case.

An official committee of unsecured creditors has been appointed in
the case.  The Law Offices of Sandra Mayerson and Morris James
LLP's Eric J. Monzo, Esq. represent the Committee.

The Debtors are seeking to sell their assets at an auction in
March
2016.  Washington Amigos, Plastic Ties and Allen Kronstadt, a
former director, have offered to acquire certain of the assets.
They are represented by Pillsbury Winthrop Shaw Pittman LLP's
Patrick Potter, Esq.; and Stein Sperling Bennett De Jong Driscoll
PC's Don Sperling, Esq.  Gordian Group, LLC, is assisting the
Debtors with respect to the sale.


AXION INTERNATIONAL: Court Approves Joint Administration of Cases
-----------------------------------------------------------------
The Hon. Christopher R. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware authorized the joint administration of
that Chapter 11 cases of Axion International, Inc., et al., for
procedural purposes only.

Cases will be jointly administered under Axion International, Inc.,
Case No. 15-12415.

As reported by the Troubled Company Reporter on Dec. 7, 2015, Axion
International, Inc., Axion International Holdings, Inc., and Axion
Recycled Plastics Incorporated asked the Bankruptcy Court to
authorize the joint administration of their cases.

The Debtors anticipate that numerous filings and additional
matters, including notices, applications, motions, orders, hearings
and other proceedings will affect several, if not all, of them.

"Joint administration of the Debtors' estates will avoid
repetitive, duplicative and potentially confusing filings by
permitting counsel for all parties-in-interest to (i) use a single
caption on the numerous documents that will be filed and served in
the Debtors' reorganization cases, and (ii) file many documents in
only one of the Debtors' reorganization cases rather than in
multiple cases; provided, however, that all schedules of assets and
liabilities, statements of financial affairs, and proofs of claims
will be captioned and filed in each of the Debtors' respective,
separate cases, as appropriate," says Justin R. Alberto, Esq., at
Bayard, P.A., attorney for the Debtors.

According to Mr. Alberto, supervision of the administrative aspects
of the Chapter 11 cases by the Office of the U.S. Trustee and the
Court will be simplified by joint administration.

Bankruptcy Rule 1015(b) states that: "[i]f a joint petition or two
or more petitions are pending in the same court by or against ... a
debtor and an affiliate, the court may order a joint administration
of the estates" of such debtor and affiliates.

                          About Axion

Axion International, Inc., Axion International Holdings, Inc. and
Axion Recycled Plastics Incorporated filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Proposed Lead Case No. 15-12415) on
Dec. 2, 2015.  The petition was signed by Donald W. Fallon as chief
financial officer and treasurer.  The Debtors estimated both assets
and liabilities in the range of $10 million to $50 million.
Bayard, P.A. represents and Debtors as counsel.  Epiq Bankruptcy
Solutions, LLC serves as the Debtors' claims and noticing agent.
Judge Christopher S. Sontchi has been assigned the case.

The Debtors manufacture, market and sell structural products and
building materials, with an emphasis on railroad ties and
construction mats.

As of the Petition Date, the Debtors employ approximately 70
employees.

The Official Committee of Unsecured Creditors is represented by
Eric J. Monzo, Esq., at Morris James LLP and Sandra E. Mayerson,
Esquire., at the Law Offices of Sandra Mayerson.  EisnerAmper LLP
serves as its financial advisor.


AXION INTERNATIONAL: UCC Challenge Period Extended to May 11
------------------------------------------------------------
The Official Committee of Unsecured Creditors of Axion
International, Inc., et al., obtained entry of an order extending
until May 11, 2016, at 5:00 p.m., its deadline to challenge the
liens of the secured lenders.  On Feb. 26, 2016, the Committee won
approval of its motion for an order granting leave, standing and
authority to commence, prosecute, settle and recover certain causes
of action on behalf of the Debtors' estates.  The Feb. 26 order
gave the Committee until March 4 to assert its lien challenge by
filing an adversary complaint.  By agreement between the Committee,
the Debtors, Kronstadt and the DIP Lenders, the parties agree that
the challenge period will be extended until two business days after
the effective date of a proposed plan of liquidation.  The proposed
effective date of the Debtors' plan is May 9, 2016.

                         About Axion

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

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

Axion International, Inc., Axion International Holdings, Inc. and
Axion Recycled Plastics Incorporated filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 15-12415) on Dec. 2, 2015.

The petitions were signed by Donald W. Fallon, the CFO and
treasurer.  Judge Christopher S. Sontchi has been assigned to the
cases.

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

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

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


BASIC ENERGY: Egan-Jones Cuts Sr. Unsecured Rating to B+
--------------------------------------------------------
Egan-Jones Rating Company downgraded the rating on commercial paper
issued by Basic Energy Services, Inc. to D from C on March 1,
2016.

Basic Energy Services, Inc. provides well site services to oil and
gas drilling and producing companies.  The Company operates well
maintenance, workover, and fluid handling service through a fleet
of well servicing rigs and fluid service trucks and equipment.



BATE LAND & TIMBER: Opposes BLC Bid to Stay Plan Approval Order
---------------------------------------------------------------
Debtor Bate Land & Timber, LLC asks the Bankruptcy Court to throw
out the door Bate Land Company, L.P.'s request for a stay of the
Order Confirming Plan issued by the Court on Feb. 3, 2016, saying
that BLC fails to meet not just one, but all four factors required
to obtain a stay pending appeal.

Postpetition, the U.S. Bankruptcy Court for the Eastern District of
North Carolina has entered a series of Orders regarding the Plan of
Reorganization, as proposed, modified and amended. BLC has appealed
a "majority" of these orders, including the Confirmation Order that
it now seeks to stay pending the Appeal.  BLC has noted its appeal
of the Confirmation Order to the U.S. District Court for the
Eastern District of North Carolina Southern District, which has
been consolidated with BLC's appeal of five other orders of this
Court by Order entered by the Honorable Terrence W. Boyle on Feb.
18, 2016 (Case No. 7:16-CV-23-BO) (the "Appeal").  In addition to
its appeal of the Confirmation Order, BLC appealed Orders of the
Court entered on Jan. 15, 2015, Aug. 25, 2015, Nov. 25, 2015, Jan.
5, 2016, and Jan. 21, 2016.

After hearing extensive evidence and arguments in this case
involving purchase money financing of properties (with its unique
treatment under North Carolina law) by a seller -- BLC -- that had
historically owned and managed the properties, this court
determined values of certain of the properties and confirmed
Debtor's plan.  BLC has not satisfied the standard for obtaining a
stay pending appeal as required by applicable law, including recent
cases such as Real Truth About Obama, Inc. v. Fed. Election Comm'n,
575 F.3d 342, 346–47 (4th Cir. 2009), vacated on other grounds,
130 S. Ct. 2371 (2010) and adhered to in part sub nom.

According to the Debtor, the standard for determining whether to
grant a stay pending appeal in a bankruptcy case is similar to the
standard for determining whether to issue a preliminary injunction:
(1) likelihood of success on the merits of its appeal; (2)
likelihood the moving party will suffer irreparable harm if a stay
is not granted; (3) the balance of equities tips in the moving
party's favor; and (4) a stay is in the public interest.

As was contemplated by the Plan, proceeds from the sale of timber
will be used to meet the Debtor's obligations for Plan payments,
and 50% of the timber sale proceeds will be paid to BLC pursuant to
the Plan.

"The Debtor has already been effectively shut out of an improving
real estate development market for over two-and-a half years since
the filing of its bankruptcy petition, largely due to foot-dragging
and over-lawyering on BLC's behalf.  Further delays to
participation in this real estate market would be crippling," the
Debtor argues.

"In addition, an immediate and major source of funding for the
Debtor and its plan is from the harvest and sale of timber. Current
timber prices, due to extremely wet conditions, are significantly
more than even the high pricing the Debtor has negotiated in the
past.  Each day closer to spring and drier weather will cause
prices to drop, as loggers will be able to harvest on tracts they
currently cannot.  The Debtor cannot afford to miss this
opportunity during what promises to be a lengthy appeals process.
If the Debtor were to fail to honor its timber contracts, the
Debtor's reputation in the marketplace would be damaged among the
other parties involved with the contracts, who, in turn, will have
suffered the expense of site visits, contract negotiations,
arrangements with loggers and truckers, mobilization of heavy
equipment, potential unemployment and opportunity costs. BLC is
also entitled to receive fifty percent of timber sale proceeds
towards payment of the remaining balance of its claim, and proceeds
from timber harvests are needed to make payments to Bate's other
creditors."

"To grant the stay and prohibit the Debtor from cutting and selling
timber would actually decrease the future value of the Debtor's
property and BLC's collateral.  As was explained to the Court by
timber consultants for both sides, trees of a certain age that are
densely populated cause an unhealthy competition for light, water,
and minerals, which drastically stunts tree growth and maturity,
resulting in a significant loss of income that would be derived not
only immediately from a thinning, but from the harvesting of mature
trees at a future point in time.  A thinning removes the smaller
and lower quality trees, opening up the stand and providing space
for the residual trees to mature.  As the trees grow larger, the
total volume of wood increases, but, more importantly, the value
increases significantly.  The smaller, low-value trees mature into
higher value forest products such as saw timber and veneer.  In
sum, when balancing the equities, the Debtor's inability to cut
timber weighs as a negative for the Debtor, BLC and all of the
Debtor's creditors."

Attorneys for Bate Land & Timber:

          George Mason Oliver
          THE LAW OFFICES OF OLIVER & CHEEK, PLLC
          P.O. Box 1548
          New Bern, NC 28563
          Tel: (252) 633-1930
          Fax: (252) 633-1950
          E-mail: george@olivercheek.com

                        The Confirmed Plan

BLC is a secured creditor of the Debtor pursuant to purchase money
financing that requires unique treatment under North Carolina law.
On August 30, 2013, the Debtor filed its Plan of reorganization,
which was subsequently amended.  The Debtor has proposed to satisfy
all or a portion of BLC's claim through the surrender of certain
properties -- including but not limited to two properties, the
Broad Creek Tract and the Bay River/Smith Creek Tract -- thereby
requiring the Bankruptcy Court to determine the fair market value
of the property proposed for surrender.  BLC objected to the
proposed treatment of its claim under the Plan.  The ballot cast by
BLC constituted the only rejecting ballot to the Plan.

After seven months of careful review and consideration of all of
the evidence, Judge Humrickhouse issued on Jan. 15, 2015 an order
finding that (1) the applicable burden of proof for determinations
concerning the requirements of 11 U.S.C. Sec. 1129 is a
preponderance of the evidence; (2) if the Debtor chose to satisfy
Appellant's claim solely through dirt for debt, the feasibility
requirement of 11 U.S.C. Sec. 1129(a)(11) was clearly satisfied;
(3) the Debtor's Plan was proposed in good faith as required by 11
U.S.C. Sec. 1129(a)(3) and satisfied the impaired accepting class
requirement of 11 U.S.C. Sec. 1129(a)(10); (4) the conservative
present value of the Broad Creek tract was $3,143,000; and (5) the
conservative present value of the Bay River/Smith Creek Tract was
$5,700,000.

The Bankruptcy Court entered an order confirming the Plan on
Feb. 3, 2016.

The Debtor has already conveyed certain of its properties --
including but not limited to two the Broad Creek Tract and the Bay
River/Smith Creek Tract -- to BLC by deeds recorded on Feb. 4,
2016, and the stamped deeds were hand-delivered to BLC’s counsel
on Feb. 4 and 5, 2016.

The issues presented by BLC in its appeal are as follows:

     1. Whether the Bankruptcy Court erred in concluding that
Appellee's Plan was proposed in good faith and, therefore,
satisfied the requirements of 11 U.S.C. Sections 1129(a)(3).

     2. Whether the Bankruptcy Court erred in concluding that
Appellee's Plan was accepted by at least one accepting impaired
class under 11 U.S.C. Sec. 1129(a)(10).

     3. Whether the Bankruptcy Court's findings, with respect to
the highest and best use for, and values of, the "Broad Creek
Tract" and the "Smith Creek Tract," were clearly erroneous.

     4. Whether the Bankruptcy Court erred, in application of the
burden of proof, on the issue of indubitable equivalence under 11
U.S.C. Sec. 1129(b)(2)(A)(iii).

                     About Bate Land & Timber

Willotte, North Carolina-based Bate Land & Timber, LLC, sought
protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D.N.C.
Case No. 13-04665) on July 25, 2013.  Judge Stephani W.
Humrickhouse oversees the Chapter 11 case.

The Debtor, in amended schedules, disclosed $53,477,624 in assets
and $74,162,211 liabilities as of the Chapter 11 filing.  The
petition was signed by Brad Cheers, manager.

The Bankruptcy Administrator for the Eastern District of North
Carolina was unable to organize and recommend the appointment of a
committee of creditors holding unsecured claims against the Debtor.


BEAUTIFUL VIEW REALTY: Court Lifts Stay for Meilitz, BNY Mellon
---------------------------------------------------------------
Secured creditor Meilitz, Inc., and NYCTL 1998-2 Trust and the Bank
of New York Mellon, as Collateral Agent and Custodian for the NYCTL
1998-2 Trust, filed separate motions seeking relief from the
automatic stay imposed in the bankruptcy case of Beautiful View
Realty, Inc.

Meilitz filed a proof of claim in the amount of $1,649,195 followed
by an amended proof of claim the same day that included additional
documentation.  The basis for the claim is four separate notes and
mortgages that encumber the Properties.

The Bank is the holder of several tax liens from the City of New
York for unpaid real estate taxes on 1211 Nostrand.  The Bank filed
four proofs of claim for the tax liens.  The Bank's
predecessor-in-interest commenced a foreclosure proceeding in New
York State Supreme Court against 1211 Nostrand on account of one of
the tax liens dated June 26, 2008.  The court entered a judgment in
favor of the Bank on March 20, 2013.  The Debtor filed a voluntary
petition under Chapter 11 of the Bankruptcy Code on the same day,
staying the foreclosure sale.  The total of the Bank's claims as of
the Petition Date is $133,671.93.

Meilitz argues that the Debtor has not made any post-petition
payments on account of its secured claim, and that the Debtor has
used Meilitz's cash collateral without authorization.

The Bank argues that the timing of the bankruptcy filings, right
before scheduled foreclosure sales, shows bad faith. It also argues
that there is a lack of adequate protection as the property value
is declining due to continued unpaid taxes and accumulating
interest on the Bank's claim. In addition, the Bank argues that
there is a lack of equity due to the other secured claims on 1211
Nostrand.

In a Decision dated February 29, 2016, which is available at
http://is.gd/817dlnfrom Leagle.com, Chief Judge Carla E. Craig of
the United States Bankruptcy Court for the Eastern District of New
York granted the Motions.

According to Judge Craig, the Debtor has failed to take any steps
to effectuate a reorganization. The Debtor has not proposed a plan
of reorganization nor given the Court any indication that it could
propose a confirmable plan, Judge Craig noted.  The Debtor's
exclusive period to file a plan expired on September 28, 2015.  The
monthly operating reports field by the Debtor consistently show
rent collections that are well below the stated rent roll.  Arrears
on each rental unit have been increasing almost every month.  The
Court found that the Debtor lacks any prospect of a successful
reorganization at this time.

The case is In re: Beautiful View Realty, Inc., Chapter 11,
Debtor(s), Case No. 15-41682-cec (E.D.N.Y.).

Nnenna Okike Onua, Esq. -- McKinley Onua & Associates, PLLC,
Brooklyn, New York, Counsel for the Debtor.

Jeremy Sussman, Esq. -- Law Office of Daniel H. Richland, PLLC, New
York, New York, Counsel for secured creditor Meilitz, Inc.

Rachel B. Drucker, Esq. -- rdrucker@windelsmarx.com -- Windels Marx
Lane & Mittendorf, LLP, New York, New York, Counsel for secured
creditor the NYCTL 1998-2 Trust and the Bank of New York Mellon as
Collateral Agent and Custodian for the NYCTL 1998-2 Trust.


BENJAMIN ASHMORE: Bankruptcy Didn't Deprive Tax Ct. of Jurisdiction
-------------------------------------------------------------------
Erin McManus, writing for Bloomberg Brief, reported that a
taxpayer's bankruptcy filing didn't deprive the U.S. Tax Court of
jurisdiction over the taxpayer's liability and an accuracy-related
penalty.

According to the report, Judge Thomas B. Wells ruled March 2 that
the Tax Court had jurisdiction over Benjamin J. Ashmore's 2009 tax
liability, because the deficiency wasn't adjudicated in the
bankruptcy court and a general discharge by the bankruptcy court
wasn't a judgment on the merits of Ashmore's 2009 tax issue and
didn't confirm that any 2009 tax liability was discharged.

According to the report, Judge Wells sustained the accuracy-related
penalty against Ashmore, because Ashmore's unpredictable annual
income combined with his experience and education should have put
Ashmore on notice that he couldn't rely on Forms W-2 to determine
his tax liability.  The report noted that Ashmore had a master's
degree in business administration and a position as a senior policy
analyst for the Department of Housing and Urban Development in
which he would regularly encounter numbers, formulas and details.
Wells said with this experience and education, Ashmore couldn't
claim he made a good faith effort to determine his tax liability.

The report related that Ashmore said that he failed to report
$20,567 of his 2009 wage income of $117,464 due to a missing Form
W-2, contentious divorce proceedings, a move from New York to New
Jersey and fluctuations in his annual income.  Judge Wells wasn't
sympathetic, saying the variations in Ashmore's earnings were
sufficient that Ashmore should have compared earnings "reported on
the Forms W-2 with bank records, paycheck stubs, or paycheck
histories, all of which were available to him, to ensure that
amounts reported on those Forms W-2 matched the actual amounts that
he had received," the report further related.


BERNARD L. MADOFF: Victims' Claims for Repayment Total $17.5-Bil.
-----------------------------------------------------------------
Erik Larson, writing for Bloomberg Brief, reported that Bernie
Madoff's Ponzi scheme, which collapsed in 2008, wiped out $20
billion of investors' money, but victims' claims for repayment
total just $17.5 billion.

According to the report, almost half of the unclaimed $2.5 billion
can be traced to a couple of Caribbean-based hedge funds, which did
not file claims as any recovery on their $1.2 billion of claims
would be tiny
compared with what they might be forced to give back if they got
tangled up in U.S. courts, according to lawyers familiar with the
recovery process.

As for the remaining $1.3 billion in unclaimed money, experts are
left to ponder, the report related.  Unlike the two funds, these
are likely individual investors who had a variety of reasons to shy
away from the claims process, especially at a time when victims
were expecting to recover only 4 or 5 cents on the dollar, legal
experts say, the report further related.  Some of these people may
be kicking themselves now; victims are getting 57 cents on the
dollar, the report noted.

"We can't speculate on the motivations for any customer deciding
not to attempt to recover lost principal via the claims process,"
Amanda Remus, spokeswoman for Picard and his team of lawyers at
BakerHostetler LLP in Manhattan, told Bloomberg.

                     About Bernard L. Madoff

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

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

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

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

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


BRIAR'S CREEK: Court Enters Final Decree Closing Chapter 11 Case
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of South Carolina has
entered a final decree closing the Chapter 11 case of Creek Golf,
LLC d/b/a The Golf Club at Briar's Creek.

On Aug. 28, 2015, William Harrison Penn of McCarthy Law Firm, LLC,
on behalf of the Debtor submitted, with the motion, a report of
substantial consummation.

As reported by the Troubled Company Reporter on April 15, 2015, the
Debtor on April 6 won approval of the disclosure statement
explaining its Chapter 11 plan which was filed on Feb. 27, 2015,
subject to an addendum filed March 31, 2015.

The Addendum provides, among other things:

   -- The purchased assets under the APA include the declarant and
developer rights in the Debtor's real property.

   -- Purchaser has prepared its New Club Transition Plan and New
Club Membership Plan.  These new club documents can be reviewed
upon written request to Debtor's counsel at
bmccarthy@mccarthy-lawfirm.com or dreynolds@mccarthy-lawfirm.com.

   -- Condemnation proceeds, if any, received after entry of the
final order approving sale will be paid to the successful
purchaser
at such sale and/or the Property Owner's Association ("POA") at
Briar's Creek on terms and in amounts which are jointly acceptable
to them.

   -- While the fair market value of the Debtor’s real
property
will ultimately be determined through a sale, the Debtor believes
that the proposed sale price of $11,300,000 represents fair market
value for the property.

   -- At this time the Debtor does not believe any Chapter 5
causes
of action have any value.  Any funds remaining with the Debtor
after will be distributed to Creditors pursuant to the terms of
the
Plan.

   -- April 24, 2015 is established as the last day for a
non-government creditor to file claims against the Debtor in this
case.  Aug. 10, 2015 will remain the deadline for filing of claims
by government entities.

A copy of the Addendum is available for free at:

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

                        The Sale-Based Plan

The Debtor intends to exit bankruptcy through a sale of its assets
and distribution of sale proceeds to creditors.  

The Debtor has filed a motion for entry of an order approving the
terms of a sale of substantially all of the assets to Briar's Creek
Holdings, LLC, a Delaware limited liability company, or its assigns
as purchaser pursuant to 11 U.S.C. Sec. 363 for a purchase price of
$11,300,000.

The purchase price consists of $7,400,000 in cash and assumption of
the approximately $3,890,732 secured debt owed to Edward L. Myrick,
Sr., plus assumption of the post-closing liabilities under the
Debtor's executory contracts and a post-closing commitment to
infuse $2,000,000 into a new operating reserve.

The proposed sale is subject to higher or otherwise better offers.

The Debtor owns a private golf club on Johns Island, South
Carolina, with approximately 198 active members and 77 resigned
members, and is engaged in the business of operating its private
golf club and developing its real property.  The Debtor's assets
consist primarily of real estate, specifically including an 18-hole
golf course, practice facilities, a clubhouse, dining and country
club facilities, golf maintenance and storage buildings, eight
developed lots, unimproved land for development.

                       About Briar's Creek

Briar's Creek Golf, LLC, sought Chapter 11 protection (Bankr. D.
S.C. Case No. 15-00712) in Charleston, South Carolina, on Feb. 9,
2015.  

The Debtor owns The Golf Club at Briar's Creek, in Johns Island,
South Carolina.  The Debtor disclosed that the property's value is
unknown and the property secures $6.74 million of debt.  Secured
creditors Edward L. Myrick Sr. and South Coast Community Bank are
owed $3.89 million and $2.85 million.

The Debtor is pursuing a sale of substantially all of its assets to
Briar's Creek Holdings, LLC, for a purchase price of $11.3 million,
which consists of $7.4 million in cash and assumption of the $3.9
million secured debt owed to Edward L. Myrick, Sr., plus assumption
of the post-closing liabilities under the Debtor's executory
contracts.

The Hon. John E. Waites presides over the bankruptcy case.

The Debtor is represented by G. William McCarthy, Jr., Esq., Daniel
J. Reynolds, Jr., Esq., and W. Harrison Penn, Esq., at McCarthy Law
Firm, LLC, in Columbia, South Carolina.

The Debtor also filed an application to appoint Ouzts Ouzts &
Company as accountants, and Dixon Hughes to file tax returns and do
other related accounting functions.  The Debtor tapped Keen Summit
as its business broker to assist in the marketing and sale of
assets.


BUFFETS LLC: $4M Alamo Financing Has Interim Approval
-----------------------------------------------------
Judge Craig A. Gargotta on March 10, 2016, issued an interim order
authorizing Buffets, LLC, et al., to obtain debtor-in-possession
financing from Alamo CRG, LLC, and use cash collateral.  A final
hearing on the Debtors' motion is scheduled for March 24, 2016, at
1:00 p.m. (Central Time).

Alamo CRG, LLC, which is also the proposed purchaser of the new
equity to be issued under the Debtors' proposed plan, has agreed to
provide $2,000,000 in financing.  Subsequent advances up to an
additional $2,000,000 may be made at the Lender's discretion.
Interest on the Loan will accrue at a rate of 7% per annum and,
upon default, 10% per annum, and will be paid on the first day of
each month.   The Debtors' obligations under the DIP Note will be
payable on demand of the DIP Lender, or upon the Maturity Date,
which will be 180 days after the Petition Date, unless extended in
writing by the DIP Lender.

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

   http://bankrupt.com/misc/Buffets_LLC_103_Int_DIP_Ord.pdf

                         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: Court Approves Joint Administration of Cases
---------------------------------------------------------
Buffets, LLC, et al., obtained from the Bankruptcy Court to direct
the joint administration of their Chapter 11 cases for procedural
purposes.  Buffets, LLC, Hometown Buffet, Inc., OCB Restaurant
Company, LLC, OCB Purchasing, Co., Ryan's Restaurant Group, LLC,
Fire Mountain Restaurants, LLC and Tahoe Joe's, Inc. are to be
jointly administered under Case No. 16-50557-rbk.  Judge Ronald B.
King will preside over these jointly administered cases.

                         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: Transfers Tahoe Joe's Employees to Non-Debtor
----------------------------------------------------------
Buffets LLC, et al., received approval from the Bankruptcy Court to
transfer the employees of debtor Tahoe Joe's, Inc., to non-debtor
affiliate FMP Ovation-Payroll LLC.

FMP-Ovation, a privately held company, employs personnel to perform
a broad spectrum of services for debtors Buffets, LLC, Hometown
Buffet, Inc., OCB Purchasing Company, LLC, OCB Purchasing, Co.,
Ryan's Restaurant Group, LLC, and Fire Mountain Restaurants, LLC.
In the period prior to the Petition Date, there were approximately
15,325 salaried and hourly FMP-Ovation employees working at the
restaurants, with the exception of Tahoe Joe's.

Tahoe Joe's has its own employees.  In the months leading up to the
Chapter 11 filing, the Debtors were in advanced discussions with
third parties regarding a potential sale of Tahoe Joe's. To keep
Tahoe Joe's "separate" and thus ease a sale of the enterprise to a
third party, the Debtors did not migrate Tahoe Joe's employees to
FMP Ovation.  Unfortunately, no sale was able to be consummated
prior to the Petition Date.

On March 9, the Debtors received authorization from the Bankruptcy
Court to move Tahoe Joe's employees to FMP Ovation.

The Debtors explained in their motion that Tahoe Joe's employs its
workforce and uses a payroll processor, ADP, to pay payroll. Having
duplicative employers and payroll processors is wasteful for the
estates and denies Tahoe Joe's the efficiencies that come with
consolidation of employees at FMP Ovation.  Moving Tahoe Joe's
employees over to FMP Ovation will eliminate the high cost burden
of the ADP payroll processing fees and allow Buffets to reject the
ADP contract.  The Tahoe Joe's payroll will be efficiently managed
and processed by FMP Ovation at a much lower cost.

                         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.

On 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.


CANADIAN SOLAR: 2015 Results Support Ba2 CFR, Moody's Says
----------------------------------------------------------
Moody's Investors Service says that Canadian Solar Inc.'s 2015
results are in line with Moody's expectations and support its Ba2
corporate family rating and stable outlook.

"CSI's strong growth in solar module shipments in 2015 reflected
reasonably supportive market conditions and the company's leading
position in this business," says Wan Hee Yoo, a Moody's Vice
President and Senior Analyst.

In addition, CSI's revenue rose 17% year-on-year to $3.5 billion in
2015 from $3.0 billion in 2014, as the company recorded 4.4
gigawatts (GW) of external solar module shipments, up by more than
50% from 2.8 GW in 2014, but partially offset by the decline in
average selling prices (ASP).

As for its solar power projects, the company had 398 MW of plants
in operation at end-2015 and a late-stage project pipeline totaling
2.0 GW.

Moody's expects the long-term fundamentals of the industry to
remain reasonably favorable, and that CSI will continue to benefit
from strong growth in module shipments, supported by the global
drive for clean energy and the five-year extension of the US
investment tax credit.

"We expect CSI's financial leverage to improve over the next 1-2
years after the weakening in 2015," adds Yoo.

CSI has shifted the business strategy for its solar power projects
to a build-to-hold model from its previous build-to-sell model.

As a result, Moody's estimates adjusted debt/EBITDA rose to about
6.5x-6.7x in 2015 from 3.0x in 2014, which is broadly in line with
our expectations.  The rise was driven by the sizable debt incurred
to fund its large scale solar power projects as well as the loss of
earnings from its previous sales of solar power projects.

CSI originally planned to launch a yieldco in late 2015 or early
2016, based on its contracted solar power assets in developed
countries, but its ability or willingness to raise proceeds through
the launch of the yieldco is uncertain considering the current
unfavorable yieldco market conditions.

However, Moody's notes that management is committed to maintaining
a financial profile consistent with the current rating level.

In particular, should the launch of the yieldco prove to be
unviable, we expect CSI to return to the build-to-sell model --
which would not be difficult -- to reduce financial leverage.

CSI estimates that the resale value of the solar power plants it
owns and operates in the OECD market will total approximately $2.5
billion by end-2016, with a gross profit contribution of
approximately $355 million.

Consequently, Moody's expect financial leverage will likely improve
to about 5.5x over the next 1-2 years through either the launch of
the yieldco or the sale of its project assets, as well as the
higher earnings contributions from increased solar module shipments
and solar power plants.

CSI's liquidity is moderate, given its large capital expenditures
and sizable short-term debt.  However, this weakness is mitigated
by its good access to project-based secured financing and its
strong business profile.

The principal methodology used in this rating was Global
Manufacturing Companies published in July 2014.

Headquartered in Ontario, Canadian Solar Inc. is a leading
vertically integrated provider of solar power products and system
solutions and operations, with operations mainly in the US, Canada,
Japan and China.  It was incorporated in 2001 and listed on NASDAQ
in 2006.



CANAL ASPHALT: Auction for Asphalt Plant Moved to April 18
----------------------------------------------------------
The auction for Canal Asphalt, Inc.'s asphalt plant will now be
held on April 18, 2016, at 2:00 p.m., instead of April 21, 2016.

As reported by the Troubled Company Reporter on March 10, 2016,
the Debtor wants to auction its asphalt plant at 800 Canal Street,
in Mount Vernon, New York.  PCI Industries Corp. has made an offer
to acquire for the total price of $13.3 million, while Peckham
Industries, Inc., is offering to acquire the Plant for a cash
payment of $11.0 million.  Bloomberg.com says the stalking-horse
bidder will be entitled to the break-up fee of up to 3% of the
purchase price and expense reimbursement of up to $0.05 million.

Gary M. Kushner, Esq., a partner at Goetz Fitzpatrick LLP, the
counsel for the Debtor, said in a declaration filed with the
Bankruptcy Court on Jan. 8, 2016, that Peckham refused to consent
to a reasonable carve-out to pay the professional fees of the
Debtor's proposed auction advisor, SSG Capital Advisors, LLC.
Peckham originally committed to the carve-out but ultimately
reneged by it belatedly making a counter-proposal that was far from
what the parties had originally discussed and agreed to in
principle.  Mr. Kushner stated, "Because the Debtor lacks the
liquidity and assets to assure SSG that it will be paid, SSG has
understandably declined to begin work unless the Debtor's secured
creditors consent to a carve-out for SSG's fees.  Peckham's refusal
to grant a reasonable carve-out means that the Debtor cannot
presently retain SSG . . . .  Without the ability to retain or pay
SSG, the Debtor has now resorted to an alternative method of
maximizing the value of the estate's assets by agreeing to transfer
ownership of the Canal Plant to an entity that has agreed to fund a
Chapter 11 plan.  In this way, the services of SSG will not be
required, so Peckham's latest attempt to undermine the marketing
process and/or the disposition of assets at fair value will be
thwarted."  

The Debtor, according to Mr. Kushner, then sought on Jan. 8, 2016,
to vacate the sale procedures order dated Dec. 8, 2015, in light of
the firm offer from PCI.  Petrillo Contracting, Inc., objected on
Jan. 21, 2016, the termination of the auction, saying that there
should be an open and fair opportunity provided for other parties
in interest to bid.

In an objection filed with the Bankruptcy Court on Jan. 22, 2016,
Peckham said that the Debtor sought to scuttle the auction process
and substitute in its place an illusory and highly problematic plan
of reorganization that channels substantial and impermissible
benefits to existing equity.  "The Court should not permit the
Debtor to derail the auction process in order to steer a sale to
its preferred purchaser and benefit an insider.  Given the obvious
bias  demonstrated by the Debtor and its counsel, the Court should
strongly consider appointing an examiner to make a report and
recommendation to the Court as to the highest and best bid at the
auction," Peckham stated.

Mr. Kushner said in a filing dated Jan. 22, 2016, that PCI's and
Peckham's offers to entities or persons other than the Debtor are
identical, but PCI is viewed as the better offer because unsecured
creditors will receive $2.3 million more than Peckham's offer.  If
Peckham is not satisfied with the prospect that it will be paid in
full on the loans that it acquired, then it should match or better
PCI's offer, Mr. Kushner added.

On Feb. 9, 2016, the Bankruptcy Court entered an amended order -- a
copy of which, along with the auction and sale procedures, is
available for free at http://is.gd/7bf9zi-- authorizing the
auction process and approving the bid procedures for the sale of
the Plant.  

Any potential bidder who wishes to participate in the auction must
submit a bid by April 14, 2016, at 10:00 a.m. (Eastern Time).

The Bankruptcy Court will also hold on March 29, 2016, at 10:00
a.m., a hearing to consider the adequacy of the disclosure
statement.  The TCR also reported on March 10 that on March 1,
2016, the Debtor 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

Petrillo is represented by:

        Forchelli, Curto, Deegan,
        Schwartz, Mineo & Terrana, LLP
        Brian J. Hufnagel, Esq.
        The Omni
        333 Earle Ovington Boulevard
        Suite 1010 Uniondale, New York 11553        
        Tel. (516) 248-1700        
        Fax (516) 248-1729

                    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.


CARDIAC SCIENCE: Court OKs Deadline to File Lease Rejection Claims
------------------------------------------------------------------
A bankruptcy court approved the deadline proposed by CS Estate
Inc., formerly known as Cardiac Science Corp., for filing proofs of
claim resulting from the rejection of an unexpired lease or
executory contract.

The order, issued by the U.S. Bankruptcy Court for the Western
District of Wisconsin, gives any claimant who is counterparty to
the unexpired lease or executory contract 30 days after receiving a
notice of rejection to file a proof of claim.

                        About Cardiac Science

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

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

Judge Robert D. Martin presides over the case.

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

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

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

                             *     *      *

The Debtor on Jan. 8, 2016 won approval from the Bankruptcy Court
to sell substantially all of its assets to CFS 915 LLC.  The sale
closed on Jan. 25.  As required by the parties Asset Purchase
Agreement, the Debtor changed its name from "Cardiac Science
Corporation" to "CS Estate, Inc."  The Debtor filed a corresponding
motion to amend the case caption to reflect the name change.


CHICAGO BOARD: S&P Maintains GO Bonds' 'B+' Rating on Watch Neg.
----------------------------------------------------------------
Standard & Poor's Ratings Services maintained on CreditWatch with
negative implications its 'B+' long-term rating and underlying
rating (SPUR) on Chicago Board of Education's general obligation
(GO) bonds.

S&P kept the rating on CreditWatch with negative implications after
lowering it to 'B+' on Jan. 15.  Since that rating action, S&P
believes the board has continued to exhibit signs of severe
liquidity pressure, faced further challenges from the governor's
threatened state takeover, and experienced deterioration in its
ability to tap the market for long-term debt at an acceptable
price.  The CreditWatch listing reflects our view that there is at
least a one-in-two likelihood of a rating change within the next
four months.

"We believe that the board continues to be under severe liquidity
pressure, and that its liquidity position continues to make the
district particularly vulnerable to any unexpected variances," said
Standard & Poor's credit analyst Jennifer Boyd.



CLEAN HARBORS: Moody's Affirms Ba2 CFR, Outlook Stable
------------------------------------------------------
Moody's Investors Service affirmed the ratings of Clean Harbors,
Inc. including the Ba2 Corporate Family Rating, the Ba2-PD
Probability of Default Rating and the Ba2 rating on the senior
notes.  This rating action follows the announcement that the
company will issue a $200 million add-on to its existing 5.125%
senior notes due June 2021 with proceeds used to fund potential
acquisitions and for general corporate purposes.  Additionally, the
Speculative Grade Liquidity rating was maintained at SGL-2. The
rating outlook is stable.

The affirmation reflects Moody's expectation that Clean Harbors
will continue to expand margins and generate free cash flow in
excess of $100 million despite lingering headwinds from the energy
sector.  The company has a proven track record of effectively
integrating various-sized acquisitions and maintains a fairly
conservative balance sheet that should provide the financial
flexibility to not only manage through the current downcycle but to
capitalize on acquiring assets at reasonable multiples.
Furthermore, the $200 million of incremental debt doesn't
materially weaken credit metrics.

Moody's took these rating actions on Clean Harbors, Inc.:

   -- Corporate Family Rating affirmed at Ba2
   -- Probability of Default Rating affirmed at Ba2-PD
   -- Senior notes affirmed at Ba2 (LGD4)
   -- $200 million of add-on senior notes assigned at Ba2 (LGD4)
   -- Outlook is stable
   -- The Speculative Grade Liquidity rating was maintained at
      SGL-2

                        RATINGS RATIONALE

Clean Harbors' Ba2 CFR rating reflects Moody's expectation for the
company to maintain its leading position across a number of the
North American hazardous and non-hazardous waste end markets.  The
rating benefits from the company's unique collection of high-value
assets that generate a fairly stable recurring revenue stream in
several of its operating segments - Technical Services, SK
Environmental Services and to a lesser degree Industrial and Field
Services - and the formidable barriers to entry that it enjoys in
these specialty sectors of the waste industry.  Accordingly,
Moody's anticipates margins (operating margin of 7% at year-end
2015) to improve and free cash flow generation (averaged $100
million annually over the past five years) to be commensurate with
the 2015 level over the next 12-18 months driven by heightened
focus on return on invested capital, significant cost-reduction
initiatives and more normalized capital expenditures beginning in
2017.  In addition, returns should modestly benefit from the full
impact of the charge-for-oil and stop-pay programs the company
implemented in the second half of 2015.

The rating is constrained by the company's sizable exposure to the
energy markets.  From the sharp drop in drilling activity, to
delayed and/or cancelled projects, deferred maintenance work, low
base-oil pricing and customers' reduced capital expenditure
budgets, negative sentiment originating in the energy sector has
extended into other sectors of the industrial market.  Highlighting
this exposure is the fall-off in performance of the Oil and Gas
Field Services and Lodging Services segments.  As recently as 2013
the segments combined to generate nearly $150 million of EBITDA -
in 2015, they generated only $16 million, a 90% decline.  The
company announced a planned carve-out of these segments in early
2015, however, energy sector conditions have severely limited Clean
Harbors' options for monetizing these businesses and therefore
represent a sizable drag to overall results.

The stable outlook reflects Moody's expectation for revenues to
remain challenged over the next twelve months yet for the company's
ongoing cost-reduction initiatives to buoy margin growth and
maintain steady free cash flow generation.  Moody's does not expect
higher-margin emergency response revenues to repeat in 2016 at a
similar level as in 2015, but notes that incremental revenues above
the normal run-rate of around $650 million would provide additional
operating flexibility to help the company manage through the
current energy sector downturn.

The outlook also anticipates that the add-on proceeds will be used
for value-enhancing activities as opposed to share repurchases.

Some level of stabilization in the energy sector (i.e. customers
returning to more normal spending practices) such that asset
utilization rates substantially increase and landfill tonnage
trends meaningfully back towards levels consistent with pre-2015
amounts could lead to an upgrade.  Continued margin improvement
(operating margin nearing 10%), free cash flow-to-debt approaching
15% or debt-to-EBITDA approximating 3x for an extended period of
time could also result in positive rating momentum.  Reduced
reliance on the energy sector would also be viewed favorably.  In
contrast, further erosion in base business revenues and earnings
and the inability of lean initiatives to offset much of the decline
could result in negative rating actions.  Additionally,
deterioration of the liquidity profile, overly aggressive
shareholder-friendly initiatives or additional debt-financed
acquisitions may lead to a downgrade.  On a metrics basis, free
cash flow-to-debt falling to the mid-single digits or
debt-to-EBITDA exceeding 4x would create downward rating pressure.

Clean Harbors, Inc. provides environmental, energy and industrial
services throughout North America with services ranging from the
collection, packaging, transportation, recycling, treatment and
disposal of hazardous and non-hazardous waste; emergency spill
response; cleaning/remediation activities and oil re-refining.  The
company reported revenues of $3.3 billion for its year-ended Dec.
31, 2015.

The principal methodology used in these ratings was Environmental
Services and Waste Management Companies published in June 2014.



CLEAN HARBORS: S&P Affirms 'BB+' CCR, Outlook Stable
----------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed its
'BB+' corporate credit rating on Massachusetts-based Clean Harbors
Inc.  The outlook is stable.

At the same time, S&P affirmed its 'BB+' issue-level ratings on the
company's senior unsecured debt.  The '3' recovery rating on the
debt remains unchanged, indicating S&P's expectation for meaningful
(50-70%; upper half of the range) recovery in the event of a
default.

"We are affirming our ratings on Clean Harbors Inc. in light of its
proposed $200 million add-on to its existing 5.125% senior
unsecured notes due June 2021," said Standard & Poor's credit
analyst Daniel Lee.  "We expect that the add-on will have a modest
impact on the company's credit measures."  The company's pro forma
debt capital structure will consist of a $400 million revolving
credit facility, $800 million of 5.25% senior unsecured notes due
2020, and $800 million of 5.125% senior unsecured notes due 2021
($795 million outstanding).

The stable outlook on Clean Harbors Inc. reflects S&P's view that,
despite the weakness in its oil re-refining, oil and gas field
services, and lodging segments, the company's operating performance
will be sufficient for S&P's current ratings based on our
expectation for steady growth in its technical services and
industrial and field services units.  High incinerator and landfill
utilization will help support Clean Harbor's operating results and
should offset the tepid activity in its energy end markets.  S&P
expects that the potential divestiture of the company's oil and gas
field services and lodging segments will have limited impact on our
assessment of its business risk profile.  S&P do not anticipate any
significant debt reduction, though it expects management to adhere
to prudent financial policies.

S&P could lower its ratings on Clean Harbors if lower waste volumes
and capacity utilization in the company's technical services
division or continued weakness in its oil re-refining and recycling
business causes its EBITDA margins to decline by about 200 basis
points on a sustained basis.  This would likely cause the company's
FFO-to-total debt ratio to fall below 20%.

Though unlikely, S&P could raise its ratings on Clean Harbors if
increased waste volumes and capacity utilization in the company's
technical services divisions or accretive acquisitions cause its
revenue to increase modestly and its EBITDA margins improve by 400
basis points on a sustained basis.  This would likely cause the
company's FFO-to-debt ratio to exceed 30%.



CLOUD PEAK: Moody's Lowers CFR to B3, Outlook Negative
------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating of
Cloud Peak Energy Resources LLC to B3 from B1.  At the same time,
Moody's downgraded the Probability of Default Rating (PDR) to B3-PD
from B1-PD, and the ratings on senior unsecured notes to Caa1 from
B3.  Moody's also lowered the Speculative Grade Liquidity Rating to
SGL-3 from SGL-2.  This concludes the review initiated on January
21, 2016, when Moody's placed all ratings on review for downgrade,
reflecting an effort to recalibrate ratings in the mining sector
given perceived fundamental shift in the operating environment.
The outlook is negative.

Downgrades:

Issuer: Cloud Peak Energy Resources LLC

  Probability of Default Rating, Downgraded to B3-PD from B1-PD
  Corporate Family Rating, Downgraded to B3 from B1
  Senior Unsecured Regular Bond/Debenture, Downgraded to
   Caa1(LGD5) from B3(LGD5)

Ratings Lowered:

  Speculative Grade Liquidity Rating, Lowered to SGL-3 from SGL-2

Outlook Actions:

Issuer: Cloud Peak Energy Resources LLC
  Outlook, Changed To Negative From Rating Under Review

                        RATINGS RATIONALE

The B3 Corporate Family Rating (CFR) reflects continued
deterioration of the coal industry, with long-term demand for
Powder River Basin coal challenged by low natural gas prices and
regulatory pressures.  Cloud Peak's B3 CFR is supported by its
significant production platform in the PRB, efficient surface
mining operations, solid customer base, good contracted position
and low employee healthcare liabilities.  However, the rating is
constrained by the concentration of Cloud Peak's assets in one coal
basin and the resultant exposure to price, transportation,
production disruptions, and regulatory risks.  The ratings are
supported by the company's conservative balance sheet, solid cash
and liquidity position, no near-term maturities and ability to
scale operations and capital requirements to maintain break even
free cash flows over the next eighteen months.

Cloud Peak's SGL-3 speculative grade liquidity rating reflects
adequate liquidity.  As of Dec. 31, 2015, the company had about $89
million in cash and a fully available $500 million revolving credit
facility that matures in 2019.  They also have about $30.3 million
available under their Accounts Receivable Securitization facility.
The revolving credit facility contains several financial covenants,
requiring the company to maintain a minimum level of interest
coverage and providing limits on the company's leverage ratio.
Moody's expects the company to be in compliance with these
covenants over the next 12 to 18 months.  Alternative liquidity is
limited given the comprehensive security package provided under the
revolver.

Cloud Peak's $500 million revolver has a first priority lien on all
assets except the Lease By Application (LBA) leases while the $500
million senior notes are unsecured obligations of the company.
Both the revolver and the notes have the same upstream guarantees
from all of Cloud Peaks' domestic subsidiaries.  The $500 million
senior unsecured notes are rated Caa1, one notch below the assigned
CFR, reflecting the note holders' effective subordinated claim
behind the bank facility and potential for higher revolver
utilization, if poor market conditions persist over the long term.

The negative outlook reflects the continued pressure facing the US
coal industry and Moody's expectation that metrics will continue to
deteriorate.

A rating upgrade is unlikely at this time, but the outlook could be
stabilized if Moody's sees a sustainable price recovery in the
Powder River Basin.

A downgrade would be considered if liquidity were to deteriorate
further, or if Debt/ EBITDA, as adjusted, were to increase above
6x.

Cloud Peak Energy Resources LLC is one of the largest producers of
coal in the US with three wholly-owned surface mining operations in
Wyoming and Montana.  The company produces subbituminous thermal
coal with low sulfur content and an average heat value between
8,400 Btu and 9,350 Btu.  The coal is primarily sold to domestic
electric utilities.  Cloud Peak is the only pure play Powder River
Basin (PRB) coal producer we rate, and it controls an estimated 1.1
billion tons of proven and probable reserves.  The company
generated about $1.1 billion of revenues on about 75 million tons
sold through the twelve months ended December 31, 2015.

The principal methodology used in these ratings was Global Mining
Industry published in August 2014.



CLUB AT SHENANDOAH: Chapter 11 Case Closed
------------------------------------------
The U.S. Bankruptcy Court for the Central District of California
closed, on Dec. 4, 2015, the Chapter 11 case of The Club at
Shenandoah Springs Village, Inc.

The Court found that no further matters were required that the case
remain open, or that the jurisdiction of the Court continue.

On Nov. 13, 2015, the Court dismissed the case of the Debtor.
Daniel A. Lev submitted, on Nov. 6, 2015, a declaration in support
of the order authorizing voluntary dismissal of the case and
approving distribution procedures.

As reported by the Troubled Company Reporter on July 17, 2015, the
Debtor explained that sufficient cause exists to grant their motion
as (1) it Debtor has sold substantially all assets of the estate;
(2) although there are ongoing business operations, there is no
further benefit to be provided by a continuation of the bankruptcy
proceedings; (3) the available funds will be distributed to
creditors; (4) distribution of the available funds to the estate's
creditors will occur much faster through dismissal than through a
plan of reorganization; (5) continuation of the Chapter 11 will
provide no additional benefit but will guaranty additional cost and
delay, (6) dismissal will stop the accrual of additional fees and
costs, including quarterly fees for the Office of the United States
Trustee, and other costs associated with the
administration of the Debtor's chapter 11 case; and (7) conversion
of the case to Chapter 7, as opposed to dismissal, would offer no
benefit to creditors of the estate since no purpose would be served
due to the payment of all claims as a condition of dismissal
thereby making administration of the case in a Chapter 7 context
imprudent and unnecessary.

Patricia Wood, a creditor, opposed the Debtor's Motion, saying her
claim is not listed as a claim to be paid as a condition of
dismissal and arguing that there is no reason to dismiss the
present case before the resolution or payment of her claim, to
which Debtor has not objected, and who has been required by the
bankruptcy stay to wait nearly and half years to have her claim
adjudicated/resolved.  

The U.S. Trustee also opposed the Debtor's motion, arguing that the
motion does not explain how the Debtor will address certain claims
like 2014 income taxes, GE Capital, Inc., Rickards & Phillips and
Pegasus Investments.  In addition, the U.S. Trustee complained that
the Debtor's proof of service of the notice of the motion does not
evidence service on Pegasus.  Moreover, the liabilities not
addressed by the motion may prevent the Debtor from paying 100% to
general unsecured creditors, the U.S. Trustee said.

In response, the Debtor argued that the oppositions are without
merit and must be overruled.  The Debtor pointed out that the U.S.
Trustee's is based on false assumptions, a misreading of the motion
and improbable hypotheticals.  The Debtor told the Court that it
has addressed all tax claims, its motion adequately describes the
treatment of GE Capital's claims, and the potential administrative
claim of Rickards & Phillips is de minimis at best.  Moreover, the
Debtor said Pegasus Investments is not a creditor of the estate and
is not entitled to notice of the motion.

The Debtor also told the Court that it has agreed to a settlement
of the Ms. Wood's action and her claim.  In their settlement
agreement, the parties agreed that: (1) the Debtor will pay Ms.
Wood $375,000; (2) Ms. Wood will withdraw her opposition to the
motion; (3) Ms. Wood may withdraw from the settlement if the
compromise is not approved as part of the pending Chapter 11 case;
and (4) upon receipt of payment in full of the settlement proceeds,
Ms. Wood will dismiss, with prejudice, the Wood Action.

The Debtor is represented by:

         Daniel A. Lev, Esq.
         Steven F. Werth, Esq.
         SULMEYERKUPETZ - A PROFESSIONAL CORPORATION
         333 South Hope Street, Thirty-Fifth Floor
         Los Angeles, CA 90071
         Tel: 213 626-2311
         Fax: 213 629-4520
         Email: dlev@sulmeyerlaw.com
                swerth@sulmeyerlaw.com

Patricia Wood is represented by:

         George Hanover, Esq.
         Summer Shaw, Esq.
         LAW OFFICES OF HANOVER & SHAW
         73-710 Fred Waring Drive, Suite 100
         Palm Desert, CA 92260
         Tel: 760 862-1982
         Fax: 760 776-6555

The U.S. Trustee is represented by:

         Abram S. Feuerstein, Esq.
         Jason Schrader, Esq.
         United States Department of Justice
         Office of the United States Trustee
         3801 University Avenue, Suite 720
         Riverside, CA 92501
         Tel: 951 276-6990
         Fax: 951 276-6973
         Email: jason.k.schrader@usdoj.gov

                        About The Club at Shenandoah

The Club at Shenandoah Springs Village, Inc., owns The Club At
Shenandoah Springs Village, a golf and leisure resort in Thousand
Palms, a desert region of central California.  It filed for Chapter
11 protection (Bankr. C.D. Cal. Case No. 12-36723) on  Dec. 3,
2012.

The Debtor disclosed $31,280,992 in assets and $12,840,954 in
liabilities as of the Chapter 11 filing.  Judge Mark D. Houle
presides over the case.  Daniel A. Lev, Esq., and Steven Worth,
Esq., at SulmeyerKupetz, in Los Angeles, California represent the
Debtor as counsel.


CNH INDUSTRIAL: Moody's Assigns B1 Rating on $500MM Notes
---------------------------------------------------------
Moody's Investors Service assigned a Ba1 rating to the $500 million
of notes offered by CNH Industrial Capital LLC.  Moody's also
affirmed the Ba1 Corporate Family Rating (CFR) of CNH Industrial NV
(CNHI), the Ba1 long-term rating of Case New Holland Industrial
Inc., the Ba1 long-term rating of CNH Industrial Capital LLC, and
the Ba2 ratings of CNH Industrial Finance Europe SA.  A Speculative
Grade Liquidity rating of SGL-3 was assigned to CNH.  The outlook
is stable.

                         RATINGS RATIONALE

The Ba1 rating of the CNHI Capital notes reflects a support
agreement from CNHI.  The Ba1 CFR of CNHI reflects Moody's
expectations that the company's strong competitive position in the
global agricultural equipment market and the favorable long-term
fundamentals in this sector will enable it to contend with the
severe cyclical downturn in the farming sector.  This downturn,
which Moody's expects to last at least through 2016, is pressuring
the company's credit metrics.  Nevertheless, Moody's anticipates
that the restructuring initiatives taken by CNHI will position it
to generate stronger metrics during 2017 even without any
improvement in its core agriculture equipment market.

CNHI's credit profile continues to benefit from important
operational strength and supportive long-term industry fundamentals
that include: the company's number-two position in an oligopolistic
farm equipment market that has only three principal global players;
growing world population and an expanding need for agricultural
commodities; and, a continued movement toward high-efficiency
farming techniques and equipment.  In addition, CNHI is making
steady progress in strengthening the operating performance in each
of its four segments: farm equipment, commercial vehicles,
construction equipment, and powertrain.

CNHI Capital fills a vital role in providing retail and wholesale
financing in support of CNHI's North American equipment operations.
CNHI Capital has adequate capitalization with a December 2015
ratio of debt-to-equity of 8.5 to 1, and receivables past due
30-day of only .6% of total receivables (down from 1.5% in 2010).

CNHI's consolidated liquidity profile is adequate, with liquidity
sources that include: $4.4 billion in cash; $3 billion available
under long-term committed credit facilities; approximately $500
million available under committed ABS conduit facilities; and the
ability to generate approximately $500 million in free cash flow.
These resources the total approximately $8.4 billion provide
adequate coverage of industrial and finance company debt (including
ABS securities) maturing during the coming twelve months.

CNHI's CFR would come under pressure if the downturn in the farm
sector were to become more severe and the company were unable to
adequately adjust its operating and cost structure.  Metrics that
might result in pressure on the rating would include: interest
coverage remaining below 1.5x through 2016 and debt/EBITDA reaming
above 4.5x.  The rating would also be pressured if the company were
to allow its liquidity position to erode.

An upgrade of the CFR before mid-2017 is unlikely due to the
current downturn in the farm sector.  Should the market begin to
recover an upgrade would be supported by EBIT/interest of 4x and
debt/EBITDA below 3x.

The methodologies used in these ratings were Captive Finance
Subsidiaries of Nonfinancial Corporations published in December
2015, Global Manufacturing Companies published in July 2014 and
Finance Companies published in October 2015.

Assignments:

Issuer: CNH Industrial Capital LLC
  Senior Unsecured Regular Bond/Debenture, Assigned Ba1

Issuer: CNH Industrial N.V.
  Speculative Grade Liquidity Rating, Assigned SGL-3

Affirmations:

Issuer: Case New Holland Inc.
  Senior Unsecured Regular Bond/Debenture, Affirmed Ba1 (LGD2 from

   LGD3)

Issuer: CNH Industrial Capital LLC
  Senior Unsecured Regular Bond/Debentures, Affirmed Ba1

Issuer: CNH Industrial Finance Europe S.A.
  Short Term Senior Unsecured Medium-Term Note Program, Affirmed
   (P)NP
  Senior Unsecured Medium-Term Note Program, Affirmed (P)Ba2
  Senior Unsecured Regular Bond/Debentures, Affirmed Ba2 (LGD5)

Issuer: CNH Industrial Finance North America, Inc.
  Short Term Senior Unsecured Medium-Term Note Program, Affirmed
   (P)NP
  Senior Unsecured Medium-Term Note Program, Affirmed (P)Ba2

Issuer: CNH Industrial N.V.
  Probability of Default Rating, Affirmed Ba1-PD
  Corporate Family Rating, Affirmed Ba1

Outlook Actions:

Issuer: Case New Holland Inc.
  Outlook, Remains Stable

Issuer: CNH Industrial Capital LLC
  Outlook, Remains Stable

Issuer: CNH Industrial Finance Europe S.A.
  Outlook, Remains Stable

Issuer: CNH Industrial Finance North America, Inc.
  Outlook, Remains Stable

Issuer: CNH Industrial N.V.
  Outlook, Remains Stable



CNH INDUSTRIAL: S&P Assigns 'BB' Rating on Proposed Sr. Notes
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' issue-level
rating to U.S.-based CNH Industrial Capital LLC's proposed senior
unsecured notes.  CNH Industrial Capital America LLC (unrated) and
New Holland Credit Co. LLC, both wholly owned subsidiaries of CNH
Industrial Capital, will guarantee the notes.  S&P understands that
the company expects to use the proceeds from this debt issuance for
working capital, to repay its maturing debt, or for other general
corporate purposes.

S&P rated the unsecured notes one notch lower than its corporate
credit rating on CNH because S&P estimates that the amount of the
company's unencumbered assets (after considering potential draws on
committed asset-backed facilities) will remain close to or less
than the amount of its unsecured debt.  The company's heavy
reliance on secured debt, through asset-backed security
transactions, encumbers a significant majority of its balance sheet
assets.

CNH Industrial Capital is a wholly owned subsidiary of CNH
Industrial N.V. (CNHI), a public limited liability company
organized under the laws of the Netherlands with its principal
office located in the U.K. CNH Industrial Capital is a captive
finance company that provides financial services for CNH's
customers in the U.S. and Canada.

S&P's 'BB+' corporate credit rating on CNH Industrial Capital
reflects S&P's long-term corporate credit rating on CNHI, its
parent.  S&P views this subsidiary as a core holding of CNHI, given
its strategic importance to the parent (financial services are a
key offering that facilitates the sale of CNH's equipment), CNH's
ability to influence its actions, and our expectation that the
parent would provide financial support to the company in times of
need.  There is a support agreement between the two companies and
CNH Industrial Capital's receivables account for about half of the
total managed portfolio of CNH's financial services organization
globally.

RATINGS LIST

CNH Industrial Capital LLC
Corporate Credit Rating                      BB+/Stable/--

New Ratings

CNH Industrial Capital LLC
Proposed Senior Unsecured Notes              BB



CONGREGATION BIRCHOS: Gets Approval to Hire Goldberg as Counsel
---------------------------------------------------------------
Congregation Birchos Yosef received court approval to hire Goldberg
Weprin Finkel Goldstein LLP as its bankruptcy counsel.

Goldberg will help Congregation Birchos develop sales contracts to
generate funds; provide legal advice with respect to its duties as
a debtor-in-possession; prepare court documents; deal with residual
claims of creditors; and reform a plan of reorganization to compete
with the liquidating plan filed by its senior secured creditor.

The firm's current billing rate is $495 per hour for partners, and
$275 to $425 for associates.  

Congregation Birchos tapped the firm to replace the Law Offices of
Allen A. Kobler, Esq., which had withdrawn as its counsel.  

TD Bank N.A. had earlier criticized Kobler for withdrawing as
Congregation Birchos' counsel, saying the firm failed to provide
the court with "satisfactory reasons."

                 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.


CONSOL ENERGY: Moody's Lowers CFR to B2, Outlook Negative
---------------------------------------------------------
Moody's Investors Service downgraded CONSOL Energy Inc.'s corporate
family rating to B2 from B1, probability of default rating (PDR) to
B2-PD from B1-PD and senior unsecured ratings to Caa1 from B3.  The
Speculative Grade Liquidity rating of SGL-3 remains unchanged.
This concludes the review initiated on Jan. 21, 2016, when Moody's
placed ratings on review for downgrade, reflecting an effort to
recalibrate ratings in the mining sector given perceived
fundamental shift in the operating environment. The outlook is
negative.

                         RATINGS RATIONALE

The downgrade reflects Moody's expectation that leverage (as
measured by Debt/ EBITDA, as adjusted) will approach 5x in 2016, on
the back of declining realizations in coal and natural gas
divisions, while also acknowledging ample liquidity and
management's demonstrated willingness and ability to scale down
capital investments and institute asset sales in order to manage
leverage and limit cash burn.  The ratings also reflect the
company's recent announcement that it has entered into an agreement
for the sale of its Buchanan Mine for total consideration of $420
million.

CONSOL's B2 corporate family rating continues to reflect CONSOL's
efficient, high quality coal assets in the Northern Appalachian
coal basin, sizable and growing presence in the gas business, large
reserves of coal and natural gas, and the stability provided by its
long-term thermal coal agreements and natural gas hedging program.

The ratings also reflect weak pricing conditions affecting the
company's coal and natural gas businesses, which Moody's expects to
persist for the foreseeable future.  If current pricing conditions
do not improve, Moody's expects the company to eventually face
declining EBITDA and increasing leverage as higher priced coal
contracts and natural gas hedge positions roll off.

The speculative grade liquidity of SGL-3 reflects our expectation
that CONSOL will have adequate liquidity, which at December 31,
2015 included $73 million in cash, roughly $790 million available
under the company's $2 billion revolver, roughly $215 million
available under the $400 million revolver at CNX Coal Resources,
and another $177 million available under the $250 million unsecured
revolver at CONE Midstream Partners.  Moody's expects the company
to be in compliance with the financial covenants under its credit
facility over the next twelve months.  The company has a
substantial asset base that's available for sale, as an alternative
source of liquidity to offset negative free cash flows.

The Caa1 rating on the senior unsecured notes, two notches below
the B2 CFR reflects their weaker position relative to claim on
collateral, as compared to the secured revolver.

The negative outlook reflects the continued pressure facing the US
coal and natural gas industry and our expectation that industry
dynamics will not change for the next 12 to 18 months.

A rating upgrade is unlikely at this time, but the outlook could be
stabilized if we see a sustainable price recovery in coal and
natural gas prices.

A downgrade would be considered if liquidity were to deteriorate
further, industry dynamics were worsen, or if Debt/ EBITDA, as
adjusted, were to increase above 5.5x.

CONSOL Energy Inc. is a major diversified fuel producer in the
Eastern US, engaged in production of natural gas and thermal and
metallurgical coal.  CONSOL controls approximately 5.6 Tcfe of
proved natural gas reserves and 3 billion tons of coal reserves in
Northern and Central Appalachia.  For the last twelve months ending
Dec. 31, 2015, the company generated approximately $3.1 billion in
revenues.

The principal methodology used in these ratings was Global Mining
Industry published in August 2014.



CONTINENTAL RESOURCES: Egan-Jones Cuts Sr. Unsecured Rating to B+
-----------------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured rating for
debt issued by Continental Resources Inc. to B+ from BB- on March
2, 2016.

Continental Resources Inc, based in Oklahoma City, is focused on
the exploration and production of onshore oil-prone plays in the
United States.



DDMG ESTATE: DIP Lenders Extend Forbearance Period to April 1
-------------------------------------------------------------
DDMG Estate, et al., formerly Digital Domain Media Group, Inc., et
al., obtained a Bankruptcy Court order granting a 27th amendment to
the final order authorizing the Debtors to access postpetition
financing and use cash collateral.  The 27th amendment, signed Feb.
26, 2016, provides that notwithstanding the occurrence of a
Termination Event, the expiration of the "remedies notice period"
and the termination of the automatic stay under 11 U.S.C. Sec.
362(a) to allow the DIP agent to exercise any and all default
remedies, the DIP agent and the DIP Lenders will forbear from
exercising their remedies under the Final DIP Order until the
earlier of:

     (i) April 1, 2016, or

    (ii) the occurrence of a termination event (other than the
         occurrence of the Maturity Date).

The 27th amendment includes an approved budget for the period Jan.
1, 2016, through April 1, 2016.  A copy of the 27th amendment is
available for free at:

   http://bankrupt.com/misc/DDMG_1782_27th_Am_Final_DIP_Ord.pdf

                         About DDMG Estate

Port St. Lucie, Florida-based Digital Domain Media Group, Inc. --
http://www.digitaldomain.com/-- engaged in the creation of
original  content animation feature films, and development of
computer-generated imagery for feature films and trans-media
advertising primarily in the United States.

Digital Domain Media Group, Inc. and 13 affiliates sought Chapter
11 protection (Bankr. D. Del. Lead Case No. 12-12568) on Sept. 11,
2012, to sell its business for $15 million to Searchlight Capital
Partners LP, subject to higher and better offers.  The Company
disclosed assets of $205 million and liabilities totaling $214
million.

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

Attorneys at Pachulski Stang Ziehl & Jones serve as counsel to the
Debtors.  FTI Consulting, Inc.'s Michael Katzenstein is the chief
restructuring officer.  Kurtzman Carson Consultants LLC is the
claims and notice agent.  An official committee of unsecured
creditors appointed in the case is represented by lawyers at
Sullivan Hazeltine Allinson LLC and Brown Rudnick LLP.

At a bankruptcy auction, the principal part of the business was
purchased by a joint venture between Galloping Horse America LLC,
an affiliate of Beijing Galloping Horse Co., and an affiliate of
Reliance Capital Ltd., based in Mumbai.  The $36.7 million total
value of the contact includes $3.6 million to cure defaults
on contracts and $2.9 million in reimbursement of payroll costs.
As
the result of a settlement negotiated by the unsecured creditors'
committee with secured lenders, there will be some recovery for
the committee's constituency.


DEAN FOODS: S&P Affirms 'BB-' CCR & Revises Outlook to Positive
---------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'BB-' corporate
credit rating on Dean Foods Co. and revised the outlook to positive
from stable.

At the same time, S&P affirmed its 'BB+' issue-level rating on the
company's $450 million revolving facility.  The recovery rating
remains '1', indicating S&P's expectation for very high (90% to
100%) recovery in the event of a payment default.

S&P also affirmed the issue-level rating on the $700 million
unsecured notes at 'BB-'.  The recovery rating remains unchanged at
'3', indicating S&P's expectation for meaningful recovery (in the
upper half of the 50% to 70% range--previously the lower half) in
the event of a payment default.

S&P also affirmed the 'B' issue-level rating on Dean Holding Co.'s
$150 million senior unsecured debt.  The recovery rating remains
'6', indicating S&P's expectation for negligible (0%-10%) recovery
in the event of a payment default.

On Dec. 31, 2015, Dean Foods had approximately $842 million of
reported debt outstanding.

"The positive outlook reflects our expectation that Dean Foods will
sustain its improved credit protection measures in 2016, including
debt to EBITDA near or below 2.5x," said Standard & Poor's credit
analyst Stephanie Harter.  These expectations are based on Standard
& Poor's expectation that milk costs will remain low for the
remainder of the year and that future milk inflationary cycles
likely will be less pronounced than the 2014 cycle (partly because
of higher global milk production following the deregulation of
European markets).

"In addition, the company continues to focus on cost reduction,
expecting to take an additional 3% to 4% in costs over the next
year while emphasizing selling higher-margin branded products," Ms.
Harter added.  "These factors support the likelihood that Dean
Foods' cash flow ratios will not erode by as much as they did in
the prior cyclical troughs."

Standard & Poor's could consider an upgrade if the company sustains
its improved credit measures, including debt to EBITDA near 2.5x
over the next year, while demonstrating more cash flow ratio
stability during weaker earnings cycles.  More specifically, S&P
would likely upgrade the company if it believes its debt to EBITDA
would only modestly weaken closer to 3x in a weaker earning cycle.
S&P thinks the company could demonstrate this in fiscal 2017 when
milk costs could increase by as much as 20% from the current
cyclical lows.

S&P could consider an outlook revision to stable if higher milk
costs crimp margins and leverage increases to well over 3x.  This
could occur if milk costs increase by more than 30%, which the
company cannot adequately offset with pricing because of
promotional pressures to a gross margin decline of more than 300
hundred basis points, similar to what the company suffered in
2014.



DETROIT CITY: S&P Affirms 'B' Rating on 1997 Tax-Increment Bonds
----------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to stable
from negative and affirmed its 'B' rating on Detroit City Local
Development Finance Authority, Mich.'s series 1997A and 1997B
tax-increment bonds, and its 'B-' rating on the authority's series
1997C and 1998A tax-increment bonds.

"The outlook revision reflects our understanding that the state's
personal property tax repeal didn't have a significant impact on
the incremental revenue generated and that funds on hand will still
be sufficient to cover debt service payments in the next two
years," said Standard & Poor's credit analyst Anna Uboytseva.

The speculative-grade ratings reflect S&P's assessment of:

   -- The concentration of the property tax base in one taxpayer,
      with more than 95% of the project area's TV in one
      automobile assembly plant owned by Fiat;

   -- Recent continued assessed value (AV) declines in the project

      area, which have further depressed coverage;

   -- Inadequate maximum annual debt service (MADS) coverage of
      0.47x for all debt in fiscal 2015, as reflected in the 'B-'
      rating; and

   -- Low senior coverage of 1.2x MADS, as reflected in the 'B'
      rating.

Offsetting the above-mentioned weaknesses is the facility's
importance as the only North American assembly plant for the Jeep
Grand Cherokee sport utility vehicle.

The series 1997A and 1997B bonds have a senior pledge of revenues
in the tax-increment area.  The series 1997C and 1998A bonds are
junior to the 1997A and 1997B bonds. Additional senior bonds may be
issued if available revenues provide at least 1.5x coverage of
annual senior bond debt service.  Additional junior-lien bonds may
be issued with at least 1.2x coverage of combined annual debt
service.

The project area totals 380 acres, encompassing Chrysler's
Jefferson Avenue North assembly plant, a 1.7-million-square-foot
facility in southeastern Detroit.



DETROIT DOWNTOWN: S&P Affirms 'BB' Rating on Bonds, Outlook Stable
------------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to stable
from negative and affirmed its 'BB' rating on Detroit Downtown
Development Authority (DDDA), Mich.'s senior-lien tax-increment
revenue bonds.

"The outlook revision reflects our view of the authority's
stabilizing revenues, modest improvement in coverage, as well as
our expectation that coverage will stay at least stable given the
area's growth and the fact that the state's personal property tax
repeal didn't have a significant impact on the incremental revenue
generated," said Standard & Poor's credit analyst Anna Uboytseva.

The 'BB' rating reflects S&P's assessment of the area's:

   -- Highly concentrated tax base, with the 10 leading taxpayers
      accounting for 76% of incremental assessed value; and

   -- High volatility ratio and historical tax base declines that
      have affected tax-increment revenue.

Moderating the aforementioned weaknesses, in S&P's view, are:

   -- The size and depth of the project area, which includes the
      city's downtown commercial core;

   -- The stabilization of values in the past two years; and

   -- A closed senior lien with bond provisions S&P considers low,

      including a surety debt service reserve.

The new event center that would house the Detroit Red Wings Hockey
team (catalyst development project) is currently under development.
The authority will own the event center and lease it for
operations.  The 2014 bonds issued for the construction of the
hockey stadium under the new indenture are subordinate to the
senior-lien tax-increment revenue bonds that S&P rates, and the
catalyst tax increment revenues cannot be used to repay the bonds.
However, this major development already had a positive impact on
the values in 2015, which improved by 26%.



DJ OILFIELD: Voluntary Chapter 11 Case Summary
----------------------------------------------
Debtor: DJ Oilfield Services, LLC
        1833 W. State Road 300
        P.O. Box 1617
        Levelland, TX 79336

Case No.: 16-50062

Chapter 11 Petition Date: March 14, 2016

Court: United States Bankruptcy Court
       Northern District of Texas (Lubbock)

Judge: Hon. Robert L. Jones

Debtor's Counsel: Clinton W. Cook, Esq.
                  LAW OFFICES OF CLINTON W. COOK
                  P.O. Box 53116
                  Lubbock, TX 79453-3116
                  Tel: 806-798-5797
                  E-mail: clintonwcook@suddenlinkmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Douglas H. Parsley, president.

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


DRD TECHNOLOGIES: Bankr. Administrator Wants Ch. 7 Case Conversion
------------------------------------------------------------------
The U.S. Bankruptcy Administrator for the Northern District of
Alabama asks the U.S. Bankruptcy Court for the Northern District of
Alabama to convert the Chapter 11 case of DRD Technologies, Inc.,
to one under Chapter 7, or in the alternative, dismiss the case.

A hearing on the conversion motion is set for April 4, 2016, at
3:00 p.m.

The Bankruptcy Administrator claims that the Debtor, whose Plan of
Reorganization was confirmed on Feb. 3, 2016, is delinquent in
filing its Quarterly Fee Statement and in payment of Chapter 11
quarterly fees, as authorized by the Judicial Conference of the
United States pursuant to 28 U.S.C. Section 1930(a)(7).  The
Debtor, according to the Bankruptcy Administrator, has failed to
file the required fee statement and failed to pay the fee due for
the 3rd and 4th quarter 2015.  Failure to pay the quarterly fee
constitutes cause and warrants conversion to Chapter 7  or
dismissal.

On Dec. 11, 2015, the Court approved the Debtor's proposed bidding
procedures for the sale of substantially all of the Debtor's
assets, with an auction set for Jan. 29, 2016.  Any objections to
the bidding procedures were overruled.  Secured creditor
ServisFirst Bank filed on Nov. 18, 2015, a limited objection to the
bidding procedures, along with the Debtor's Disclosure Statement
for Chapter 11 Plan.  ServisFirst Bank said that the Debtor's Oct.
30, 2015 sale motion did not include the Form Asset Purchase
Agreement by which Debtor proposed to sell its assets.  ServisFirst
Bank submitted the limited objection out of an abundance of caution
to preserve its rights to object to the Form APA to the extent it
would contain terms unfavorable to ServisFirst Bank or to which
ServisFirst Bank would not consent.

ServisFirst Bank is represented by:

      Kevin C. Gray, Esq.
      Emily J. Chancey, Esq.
      Maynard, Cooper & Gale, P.C.
      P.O. Box 18668
      Huntsville, AL 35804-8668
      Tel: (256) 551-0171
      Fax: (256) 512-0119
      E-mail: kgray@maynardcooper.com
              echancey@maynardcooper.com

                      About DRD Technologies

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

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

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

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

No creditor's committee was formed in the case.


EMPLOYBRIDGE HOLDING: S&P Affirms 'B-' CCR, Outlook Negative
------------------------------------------------------------
Standard & Poor's Ratings Services said that it revised its rating
outlook on EmployBridge Holding Co. to negative from positive and
affirmed its ratings on the company, including the 'B-' corporate
credit rating.

"The negative outlook reflects our expectation for tight liquidity,
specifically in the second quarter of 2016, due to limited revolver
availability, and the risk that liquidity could worsen if the
company underperforms our base-case scenario," said Standard &
Poor's credit analyst Heidi Zhang.

EmployBridge's operating performance was weaker than S&P expected,
and its leverage remains in the low-9x area with discretionary cash
flow deficits.  The weaker-than-expected performance primarily
reflected softness in the manufacturing industry, sales disruption
from the company's bankruptcy and merger transition, and
higher-than-expected expenses.  S&P expects that debt leverage will
eventually decline to about 6x at the end of 2016 due to modest
revenue growth, the absence of one-time charges, and synergy
realization.

S&P could lower its corporate credit rating on EmployBridge over
the next one to two quarters if the company underperforms S&P's
expectations, which will likely exacerbate the acute liquidity
pressure the company faces in the second quarter of 2016.

S&P could revise the outlook to stable if EmployBridge improves its
operating performance or secures an amendment for an expanded ABL
facility, such that S&P no longer believe the company will face
near-term liquidity pressure.



EMRISE CORP: To Make 2nd Liquidation Distribution to Stockholders
-----------------------------------------------------------------
EMRISE Corporation on March 15 disclosed that it expects to make a
second liquidation distribution to its stockholders in the amount
of $0.36 per share (approximately $3.9 million in the aggregate)
during the week of April 19, 2016 (the Distribution).  Stockholders
of record as of the close of business on July 7, 2015 will be
entitled to receive the Distribution.
  
The Distribution is being made in connection with the Company's
previously announced voluntary Plan of Dissolution (Plan) that was
approved by its stockholders at a special meeting held on June 25,
2015.  When paid, the Distribution will bring the total amount of
liquidation distributions paid to stockholders under the Plan, to
$1.11 per share.

The Distribution follows the previously announced closing on
February 18, 2016, of the Company's sale of its remaining business
unit, CXR Anderson Jacobson S.A.S. (CXR-AJ) based in France (the
Transaction).  Details of the Transaction are contained in the
Company's news release disseminated on February 18, 2016, and in
its Form 8-K filed with the Securities and Exchange Commission on
February 22, 2016.

The Distribution includes: the net cash realized by the Company at
the close of the Transaction, after deducting investment banking
fees, legal fees and other associated costs; the release of certain
escrow funds held to secure any shortfall in working capital as of
the closing of the sale of the Company's Electronic Devices
business unit to an affiliate of Data Device Corporation (DDC) on
June 30, 2015; and the release of the additional reserve the
Company announced on November 16, 2015, to cover liabilities in the
event CXR-AJ was not sold.

Reserve

As of the date of this announcement, the Company has a reserve of
$6.2 million to satisfy and discharge all known, potential, or
contingent debts, obligations, and liabilities of the Company under
the Plan.  Immediately following the Distribution, the size of the
Company's reserve will be reduced to approximately $2.3 million,
from which the Company expects to pay Federal and State taxes in
the U.S. on the sales of the Company's Electronic Devices business
unit and CXR-AJ, as well as other costs associated with the Plan.

Subsequent distributions

At this time, EMRISE cannot determine when, or if, it will be able
to make a subsequent liquidation distribution to its stockholders,
or the amount of any such distribution.  The determination of
whether any such distribution can be made will depend on a variety
of factors, including, the receipt of further monies in connection
with the Transaction; the amount of funds released from the
$900,000 of escrow funds held to secure certain indemnification
obligations of the Company under the purchase agreement related to
the sale of the Company's Electronic Devices business unit to DDC;
the final determination and the payment of State and Federal taxes
in the U.S.; and other costs in connection with the dissolution of
the Company.

As necessary, EMRISE intends to make public disclosures to provide
its stockholders subsequent updates on the status of the Plan, the
first of which could occur in approximately six months.

Only holders of record of the Company's common stock as of the
close of business on July 7, 2015 will be eligible to receive
distributions of funds from the sale of the Company's assets, in
connection with the Company's dissolution.

FOR A DETAILED DESCRIPTION OF THE PLAN AND THE MATTERS RELATING TO
IT, STOCKHOLDERS ARE ENCOURAGED TO READ CAREFULLY THE COMPANY'S
NEWS RELEASE DATED JUNE 30, 2015, ITS FORM 8K FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION ON JULY 1, 2015, AND THE PROXY
STATEMENT IT MAILED TO STOCKHOLDERS BEGINNING MAY 11, 2015.

Headquartered in Durham, North Carolina, EMRISE Corporation --
http://www.emrise.com/-- designs, manufactures and markets
electronic devices, sub-systems and equipment for aerospace,
defense, industrial and communications markets.


ENERGY XXI: Debt Burden to Grow in Coming Years
-----------------------------------------------
Aleksandrs Rozens, writing for Bloomberg Brief, reported that
Energy XXI Ltd., an oil and gas exploration business based in
Houston, has $721 million worth of debt that will come due next
year and nearly $1.5 billion due in 2020.

According to the report, the E&P company warned last week that
"absent a material improvement in oil and gas prices or a
refinancing or some restructuring of ... debt obligations or other
improvements, we may seek bankruptcy protection."

The company's debt and equity prices have slid to record lows in
recent weeks, the report said.  The $721 million worth of debt that
comes due in 2017 was sold in June 2011 and was used to fund a bond
exchange, the report noted.

At the time this debt was sold, crude oil futures were above $90 a
barrel, while on March 11, crude was at $38.50 a barrel, the report
further noted.

Energy XXI Ltd was incorporated in Bermuda on July 25, 2005.  With
its principal operating subsidiary headquartered in Houston,
Texas,
Energy XXI is engaged in the acquisition, exploration, development
and operation of oil and natural gas properties onshore in
Louisiana and Texas and in the Gulf of Mexico Shelf.  It is listed
on the NASDAQ Global Select Market under the symbol "EXXI".

The Company lists total assets of $1,764,237,000 and total
liabilities of $4,381,300,000 at Dec. 31, 2015.

                      *     *     *

The Troubled Company Reporter, on Feb. 18, 2016, reported that
Standard & Poor's Ratings Services lowered its corporate credit
ratings on oil and gas exploration and production company Energy
XXI Ltd. and its subsidiary EPL Oil & Gas to 'D' from 'CCC+'.

S&P also lowered the issue-level rating on the company's
second-lien debt to 'D' from 'B-'.  The recovery rating on the
second-lien debt remains '2', indicating S&P's expectation of
substantial (70% to 90%, lower end of the range) recovery in the
event of default.  S&P lowered the rating on the company's
unsecured debt to 'D' from 'CCC-'.  The recovery rating remains
'6', indicating S&P's expectation of negligible (0%-10%) recovery
in the event of default.

At the same time, S&P lowered the issue-level rating on subsidiary
EPL Oil & Gas' debt to 'D' from 'CCC'.  The recovery rating
remains
'5', indicating S&P's expectation of modest (10% to 30%, lower end
of the range) recovery in the event of a default.


EXTREME PLASTICS: Schedules $87.9M in Assets, $69.9M in Debt
------------------------------------------------------------
Extreme Plastics Plus Inc. filed its schedules of assets and
liabilities, disclosing:

   Name of Schedule                   Assets       Liabilities
   ----------------                   ------       -----------
A. Real Property                  $3,950,419                       
   
B. Personal Property             $83,999,356           
C. Property Claimed as Exempt
D. Creditors Holding
   Secured Claims                                  $53,369,124
E. Creditors Holding Unsecured
   Priority Claims                                    $525,049
F. Creditors Holding Unsecured
   Non-priority Claims                             $16,086,668
                                 -----------       -----------
TOTAL                            $87,949,776       $69,980,842

A copy of the company's schedules is available without charge at
http://is.gd/yZizdn

                      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.

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.


FAIRMONT GENERAL: Trustee Gets Partial Win in Marion County Suit
----------------------------------------------------------------
Clifford Zucker, in his capacity as Debtor Representative and
Liquidating Trustee of Fairmont General Hospital, and UMB Bank,
N.A., in its capacity as successor trustee with respect to the 2007
bonds seek summary judgment on Counts I and II raised in the First
Amended Complaint against Marion County Commission.

The Plaintiffs ask the court to enter summary judgment in their
favor as to Count I because there are no genuine disputes of
material facts as to whether the Plaintiffs benefited from a
transfer of property by the Debtor within 90 days before the
Petition Date and while the Debtor was insolvent. The Plaintiffs
assert that they are entitled to summary judgment on to Count II
because there is no genuine dispute of material fact that, but for
the preferential transfer challenged in Count I, the Defendant was
not perfected in the Debtor's property prepetition such that the
Liquidating Trustee may avoid the Defendant's interest.

The Plaintiffs assert two causes of action against the Defendant:
Count I of its Complaint seeks to avoid the recordation of the 2013
financing statement as a preferential transfer. In Count II, the
Plaintiffs seek a declaration that they have a superior interest in
the Debtor's Gross Revenues because the 2007 financing statement
was ineffective to perfect a security interest in the Debtor's
Gross Revenues.

The Defendant argues that summary judgment is not proper as to
either claim because the Defendant assigned its interests to a
third-party and has thus never been a creditor of the Debtor.

In a Memorandum Opinion dated February 25, 2016, which is available
at http://is.gd/Tdf06dfrom Leagle.com, Judge Patrick M. Flatley of
the United States Bankruptcy Court for the Northern District of
West Virginia denied summary judgment as to Count I and granted
summary judgment as to Count II, holding that the Liquidating
Trustee's interest is unimpeded because the Defendant lacked a
secured interest in the Debtor's property as of the petition date.

The case is In re: FAIRMONT GENERAL HOSPITAL, INC., et al., Chapter
11, Debtors. CLIFFORD ZUCKER, in his capacity as Debtor
Representative and Liquidating Trustee, and UMB BANK, N.A., in its
capacity as successor trustee, Plaintiffs, v. WESBANCO BANK, INC.,
STEPTOE & JOHNSON PLLC, COUNTY COMMISSION OF MARION COUNTY (WEST
VIRGINIA), ROBERT MARQUARDT, DANIEL HORNERBRINK, PATRICK BONASSO,
DAVID FOX, MIKE MARTIN, TONI NESSELROTTE, WALTER OSBORNE, JOHN
PANZA, ROBIN SMITH, RANDY ELLIOT, AND JOHN DOES 1 THROUGH 99,
Defendants, Case No. 1:13-bk-01054, Adversary No. 15-ap-00024.

Clifford Zucker, in his capacity as Debtor Representative and
Liquidating Trustee, Plaintiff, is represented by Janet Smith
Holbrook, Esq. -- janet.holbrook@dinsmore.com  -- Dinsmore & Shohl
LLP, Boris I. Mankovetskiy, Esq. -- bmankovetskiy@sillscummis.com
-- Sills Cummis & Gross, PC, Andrew H. Sherman, Esq. --
asherman@sillscummis.com -- Sills Cummis & Gross, PC.

Wesbanco Bank, Inc., Defendant, is represented by Mark E.
Freedlander, Esq. -- mfreedlander@mcguirewoods.com  -- McGuireWoods
LLP, Denise Knouse-Snyder, Esq. --  denisesnyder@pgka.com --
Phillips, Gardill, Kaiser & Altmeyer PLL, Laura Lange, Esq. --
llange@mcguirewoods.com -- McGuireWoods LLP.

Steptoe & Johnson PLLC, Defendant, is represented by Christopher R.
Arthur, Esq. -- chris.arthur@steptoe-johnson.com -- Steptoe &
Johnson PLLC, James D. Newell, Esq. -- james.newell@bipc.com  --
Buchanan Ingersoll & Rooney LLP, Timothy P. Palmer, Esq. –
james.newell@bipc.com -- Buchanan Ingersall and Rooney PC, Peter S.
Russ, Esq. – peter.russ@bipc.com -- Buchanan Ingersoll & Rooney
LLP.

County Commission of Marion County (West Virginia), Defendant, is
represented by Wendy Elizabeth Greve, Esq. -- wgreve@pffwv.com --
Pullin Fowler Flanagan Brown & Poe PLLC.

Robert Marquardt, Defendant, represented by Douglas Paul Lobel,
Cooley LLP, Suzanne Jett Trowbridge, Goodwin & Goodwin, LLP.

Daniel Honerbrink, Defendant, represented by Timothy C. Bass,
Greenberg Traurig LLP, William F. Dobbs, Jr., Jackson Kelly PLLC.

Patrick Bonasso, Defendant, represented by Julia A. Chincheck,
Bowles Rice McDavid Graff & Love LLP, Daniel J. Cohn, Bowles Rice
LLP, Roger Gold, Squire Patton Boggs (US) LLP, Sean McGrane, Squire
Patton Boggs (US) LLP,Thompson R Pearcy, Bowles Rice LLP, Joseph C.
Weinstein, Squire Patton Boggs (US) LLP.

              About Fairmont General Hospital

Fairmont General Hospital Inc. and Fairmont Physicians, Inc.,
which
operate a 207-bed acute-care facility in Fairmont, West Virginia,
sought Chapter 11 bankruptcy protection (Bankr. N.D. W.Va. Case
No.
13-01054) on Sept. 3, 2013.  The fourth-largest employer in Marion
County, West Virginia, filed for bankruptcy as it looks to partner
with another hospital or health system.

The Debtors are represented by Rayford K. Adams, III, Esq., and
Casey H. Howard, Esq., at Spilman Thomas & Battle, PLLC, in
Winston-Salem, North Carolina; David R. Croft, Esq., at Spilman
Thomas & Battle, PLLC, in Wheeling, West Virginia, and Michael S.
Garrison, Esq., at Spilman Thomas & Battle, PLLC, in Morgantown,
West Virginia.  The Debtors' financial analyst is Gleason &
Associates, P.C.  The Debtors' claims and noticing agent is Epiq
Bankruptcy Solutions.  Hammond Hanlon Camp, LLC, has been engaged
as investment banker and financial advisor.

UMB Bank is represented by Nathan F. Coco, Esq., and Suzanne Jett
Trowbridge, Esq., at McDermott Will & Emery LLP.

The Committee of Unsecured Creditors is represented by Andrew
Sherman, Esq., and Boris I. Mankovetskiy, Esq., at Sills Cummis &
Gross P.C. and Kirk B. Burkley, Esq., Bernstein Burkley, P.C.
Janet
Smith Holbrook, Esq., at Huddleston Bolen LLP, represents the
Committee as local counsel.

The Bankruptcy Court named Suzanne Koenig at SAK Management
Services, LLC, as patient care ombudsman.  Ms. Koenig hired her
own
firm as medical operations advisor; and Greenberg Traurig, LLP, as
her counsel.

The Debtors have scheduled $48,568,863 in total assets and
$54,774,365 in total liabilities.


FANNIE MAE & FREDDIE MAC: FHFA Turns to JPMDL to Delay Lawsuits
---------------------------------------------------------------
Tired of battling lawsuits challenging the Net Worth Sweep, under
which Fannie Mae and Freddie Mac deliver all of their profits to
the U.S. Treasury each calendar quarter, in courthouses scattered
across the country, the Federal Housing Finance Agency turned to
the United States Judicial Panel on Multi-District Litigation,
asking that tribunal to consolidate:

    Jacobs v. FHFA, Case No. 15-cv-708 (D. Del.);
    Roberts v. FHFA, Case No. 16-cv-2107 (N.D. Ill.);
    Saxton v. FHFA, Case No. 15-cv-47 (N.D. Iowa); and
    Robinson v. FHFA, Case No. 15-cv-109 (E.D. Ky.);

into one master MDL proceeding and transfer that consolidated
action to the U.S. District Court for the District of Columbia for
coordinated pretrial proceedings.  

FHFA argues that consolidation and transfer of these suits is
efficient.  Cynics say FHFA's motivation is delay.  

This action will take on a life of its own before the JPMDL, with
the parties debating whether consolidation is appropriate and to
what Court and judge any consolidated proceeding should be
transferred.  FHFA is likely hoping that Judge Lamberth will
receive the cases, dismiss them all, and enter some type of order
blocking further lawsuits against FHFA, which some commentators now
describe as the All Powerful Oz with no accountability and no duty
to anyone but itself.  If the cases are consolidated, there will
likely a dog and pony show before the Transferee Court about which
law firm should serve as lead counsel for a steering committee of
lawyers representing the various parties is predictable.  

Notices will be filed by FHFA in each of the four cases to alert
the District Courts courts that FHFA took this action.  

The JPMDL Proceeding, filed Tues., Mar. 15, 2016, is captioned In
re: Third Amendment Litigation and is currently identified as
Pending No. 28.


FANNIE MAE & FREDDIE MAC: New Shareholder Suits in Del. & Va. Cts.
------------------------------------------------------------------
Fannie Mae and Freddie Mac preferred shareholder Timothy J.
Pagliara filed lawsuits in the Delaware and Virginia state courts
this week demanding that he be allowed to inspect the GSEs'
corporate records related to the Net Worth Sweep arrangement under
which the housing finance giants have turned over 100% of their
profits to the U.S. Treasury since 2012 and say they're
contractually obligated to do so in perpetuity.  

Fannie Mae and Freddie Mac were placed under conservatorship at the
height of the financial crisis in late 2008. When the companies
returned to profitability in 2012, the terms of their agreements
with the U.S. Department of Treasury were amended to force them to
turn over every all their profits to the Treasury every quarter.
This so-called Net Worth Sweep has prompted several shareholder
lawsuits.  Mr. Pagliara's two complaints:

     * Pagliara v. Fannie Mae, Case No. 12105 (Del. Ch. Ct.)
       -- a copy of which is available at http://goo.gl/hczaoT
       at no charge -- and

     * Pagliara v. Freddie Mac, Case No. 2016-03860 (Va. Cir.
       Ct., Fairfax Cty.) -- a copy of which is available at
       http://goo.gl/m4S93bat no charge --  

are the first to focus on a shareholder's right to inspect
corporate records pursuant to the state corporate laws under which
each company operates.

In Delaware, Mr. Pagliara is represented by:

     C. Barr Flynn, Esq.
     Emily V. Burton, Esq.
     Lakshmi A. Mutha, Esq.
     Benjamin M. Potts, Esq.
     Meryem Y. Dede, Esq.
     YOUNG CONAWAY STATGATT & TAYLOR LLP
     Rodney Square
     1000 N. King Street
     Wilmington, DE 19801-0391
     Telephone (302) 571-6692

In Virginia, Mr. Pagliara is represented by:

     N. Thomas Connally, Esq.
     Christopher T. Pickens, Esq.
     HOGAN LOVELLS US LLP
     Park Place II
     7930 Jones Branch Drive, Ninth Floor
     McLean, VA 22102
     Telephone (703) 610-6100

Mr. Pagliara admits in his lawsuits that there's a lot he knows
about the Net Worth Sweep, and a lot he can infer from what he
knows.  But there is much he does not know, particularly about the
participation of Fannie and Freddie's board of directors in those
transactions.  He's after those records so he can better evaluate
potential claims that he may bring.

Mr. Pagliara's lawyers asked Fannie Mae and Freddie Mac for
relevant records in Jan. 2016 and told the companies to halt future
payments to the U.S. Treasury.  The Federal Housing Finance Agency
responded by saying that the Housing and Economic Recovery Act of
2008 stripped GSE shareholders of their rights under state law and
that the GSEs' boards of directors have no fiduciary duties to
anyone but FHFA.

Mr. Pagliara is the founder of CapWealth Advisors.  He is also the
executive director of Investors Unite, a coalition of individual
investors committed to preserving shareholder rights for those
invested in Freddie Mac and Fannie Mae.  Mr. Pagliara is not acting
on behalf of Investors Unite in this litigation.


FELD LIMITED: Associated Bank Objects to Cash Collateral Use
------------------------------------------------------------
Associated Bank, National Association, objects to Feld Limited
Partnership's motion for interim authority to use cash collateral,
complaining that the Debtor's financial projections do not include
payments for property or liability insurance and include several
proposed uses that are either inappropriate or lack explanation to
justify such uses of the cash collateral.

Associated Bank says it is concerned with the Debtor's financial
projections, which indicate that beginning in April the Debtor will
have a monthly loss of almost $18,000, as the bank will begin to
suffer a monthly decline in the value of its interest in the
property of the bankruptcy estate that serves as collateral for the
obligations of the Debtor.  Furthermore, Associated Bank contends
that Humana vacating the Debtor's 65,000-square feet of office
space at the end of March will result in a decrease of
approximately $112,000 in monthly rental revenue or more than 52%
of the Debtor's current monthly rental revenue.

Associated Bank asserts that the Debtor's proposed of $22,500 is
insufficient to cover the accrual of 2016 real estate taxes for the
real properties that secure the obligations of the Debtor to
Associated Bank and thus fails to adequately protect Associated
Bank and should be increased to $25,000 per month.

In response to the bank, the Debtor counters that it intends to
escrow one-twelfth of the actual 2015 real estate taxes each month
in the amount of $21,987.

According to the Debtor, Associated Bank does not have a perfected
lien in the pre-petition accounts of the Debtor which were not
it’s at institution, and those accounts and other financial
assets amount to approximately $500,000. The Debtor further tells
the Court of its intent to pay interest only at the contract rate
during the pendency of the reorganization process, thus, by the
Debtor’s calculations it has adequate funds which are not the
cash collateral of Associated Bank to pay both the tax escrow and
the interest payment indefinitely.

The Debtor asserts that in the short run, Associated Bank is more
than adequately protected by the Debtor’s proposal. The Debtor
further say that it has significant unencumbered cash and it
possesses the talent and experience in its staffs to secure tenants
for the vacant property, design and buildout space for the
tenants’ specifications, and manage the properties once rented
leaving the Collateral with significant cushion in value. This
process will build the productivity and value of the Debtor’s
assets more quickly than any other method which could be proposed
by Associated Bank or any party in interest, the Debtor claims.

Judge Susan V. Kelley of the U.S. Bankruptcy Court for the Eastern
District of Wisconsin granted extension of the Debtor's authority
to use Cash Collateral on interim basis until March 9, 2016.

Feld Limited Partnership is represented by:

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

Associated Bank, National Association is represented by:

     Ronald F. Metzler, Esq.
     METZLER, TIMM, TREVELEN, S.C.
     222 Cherry Street
     Green Bay, WI 54301-4223
     Telephone: (920) 435-9393
     Facsimile: (920) 435-8866
     Email: rmetzler@titletownlaw.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.


FMC TECHNOLOGIES: Egan-Jones Cuts Sr. Unsecured Rating to BB+
-------------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured rating on
debt issued by FMC Technologies Inc. to BB+ from BBB- on March 1,
2016.

FMC Technologies, Inc. designs, manufactures, and services systems
and products used in offshore, particularly deepwater, exploration
and production of crude oil and natural gas.



FOREST PARK FORT WORTH: $4M Loan From TBK Requires Sale by June
---------------------------------------------------------------
Forest Park Medical Center at Fort Worth, LLC, supplemented its
motion to obtain DIP financing from TBK Bank SSB ("Triumph") to
disclose additional details regarding the proposed $4 million DIP
financing.

The Debtor said that as of March 1, 2016, none of the estate's
professionals have received any payments for postpetition services.
Consequently, the budget reflects draws against the loan facility
during the week of March 7, 2016, to be used to pay
restructuring/Chapter 11 disbursements.  These funds will be used
to make a retainer payment to the Hospital's professionals equal to
their approximate fees and expenses for the months of January and
February 2016, and the professionals' estimated fees and expenses
for the month of March 2016.  However, these funds may not be
actually paid to any of the professionals except pursuant to an
order entered by the Court.

The Debtor filed a motion on Feb. 26 to establish procedures for
interim compensation and reimbursement of professionals, which
motion is set for hearing at the same time as the DIP Financing
Motion.  The Hospital proposes to pay on a weekly basis to the
estate's professionals based upon the weekly amounts set forth in
the budget.

The Supplemental Motion includes the proposed form of Loan and
Security Agreement, which will evidence the extension of credit.
The Loan Agreement is still subject to further negotiation between
the parties.

Also included is a proposed stipulation dismissing an adversary
proceeding against Jefe Plover Interest, Ltd.  The Debtor has
commenced an adversary proceeding to challenge the validity of the
security interest granted to Jefe Plover.  The parties' stipulation
provides that Jefe Plover will subordinate its liens to the rights
granted to the DIP Lender, and Jefe Plover will have an allowed
claim of $2,550,000 against the Hospital.

The proposed final order approving the DIP Financing authorizes the
Debtors to obtain a revolving credit facility of up to $4 million.
The DIP facility will mature within one year from the closing date.
The DIP facility requires the Debtor to comply with sale
milestones, including:

    * Filing a motion seeking approval of the sale of
      substantially all assets by May 27, 2016.

    * Obtaining entry of an order approving the sale by
      June 14, 2016; and

    * Closing a sale that substantially repays in full the
      DIP Financing by June 24, 2016.

A copy of the Supplemental Motion is available for free at:

  http://bankrupt.com/misc/Forest_P_FW_138_Supp_DIP_M.pdf

                     About FPMC at Fort Worth

Forest Park Medical Center at Fort Worth, LLC, is a doctor-owned
Texas limited liability company that owns and operates the Forest
Park Medical Center, a state of the art medical facility, including
private rooms, family suites and intensive care rooms located in
West Fort Worth, Texas.  The hospital employs 175 persons on a
full-time or part-time basis.  The hospital offers a broad range of
surgical services.

Forest Park Medical Center at Fort Worth filed a Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 16-40198) in Ft.
Worth, Texas, on Jan. 10, 2016.  Judge Russell F. Nelms presides
over the case.

The Debtor estimated assets of $10 million to $50 million and debt
of $50 million to $100 million.

J. Robert Forshey, Esq., and Jeff P. Prostok, Esq., at Forshey &
Prostok, LLP, serve as the Debtor's Chapter 11 counsel.  Ronald
Winters at Alvarez & Marsal Healthcare Industry Group, LLC serves
as the Debtor's CRO.  The Debtor tapped SSG Advisors, LLC and
Chiron Financial Group, Inc. as co-investment bankers.

Vibrant Healthcare Fort Worth, LLC and FPMC Services, LLC run the
Debtor's hospital in Forth Worth.  Vibrant is the manager of the
hospital operations of Debtor, and FPMC Services employs the
employees at Debtor's hospital and those dedicated to servicing
the
hospital's "back office" operations.  They are represented by
William A. Brewer III, Esq., Michael J. Collins, Esq., and Robert
M. Millimet, Esq., at Brewer, Attorneys & Counselors.

An Official Committee of Unsecured Creditors has been appointed in
this case by the United States Trustee, and is represented by Cole
Schotz PC and Arent Fox, LLP lawyers.  CohnReznick serves as the
panel's financial advisors.  The Committee consists of (i) Pro
Silver Star Limited; (ii) Summit Spine, LLC; and (iii) Vintage
Medical, LLC.  The Committee selected Pro Silver to serve as
Committee Chairperson.


FOREST PARK FORT WORTH: Can Access Cash Collateral Until March 24
-----------------------------------------------------------------
Judge Russell F. Nelms on March 4, 2016, entered a fourth interim
order authorizing Forest Park Medical Center at Fort Worth, LLC, to
use cash collateral.  Jefe Plover -- which asserts a security
interest in the Debtor's accounts -- and Forest Park I, LLC and
Forest Park II, LLC -- which assert a security interest in the
Hospital's inventory -- will receive replacement liens.  The Debtor
can use cash collateral in accordance with a budget, subject to a
10% variance for items reflected in the budget.  A continued
hearing on the Debtor's motion to use cash collateral is scheduled
for March 24, 2016, at 9:30 a.m.  A copy of the 4th Interim Cash
Collateral Order is available for free at:

  http://bankrupt.com/misc/Forest_P_FW_151_4th_Int_Cash_Ord.pdf

                     About FPMC at Fort Worth

Forest Park Medical Center at Fort Worth, LLC, is a doctor-owned
Texas limited liability company that owns and operates the Forest
Park Medical Center, a state of the art medical facility,
including
private rooms, family suites and intensive care rooms located in
West Fort Worth, Texas.  The hospital employs 175 persons on a
full-time or part-time basis.  The hospital offers a broad range
of
surgical services.

Forest Park Medical Center at Fort Worth filed a Chapter 11
bankruptcy petition (Bankr. N.D. Tex. Case No. 16-40198) in Ft.
Worth, Texas, on Jan. 10, 2016.  Judge Russell F. Nelms presides
over the case.

The Debtor estimated assets of $10 million to $50 million and debt
of $50 million to $100 million.

J. Robert Forshey, Esq., and Jeff P. Prostok, Esq., at Forshey &
Prostok, LLP, serve as the Debtor's Chapter 11 counsel.  Ronald
Winters at Alvarez & Marsal Healthcare Industry Group, LLC serves
as the Debtor's CRO.  The Debtor tapped SSG Advisors, LLC and
Chiron Financial Group, Inc. as co-investment bankers.

Vibrant Healthcare Fort Worth, LLC and FPMC Services, LLC run the
Debtor's hospital in Forth Worth.  Vibrant is the manager of the
hospital operations of Debtor, and FPMC Services employs the
employees at Debtor's hospital and those dedicated to servicing
the
hospital's "back office" operations.  They are represented by
William A. Brewer III, Esq., Michael J. Collins, Esq., and Robert
M. Millimet, Esq., at Brewer, Attorneys & Counselors.

An Official Committee of Unsecured Creditors has been appointed in
this case by the United States Trustee, and is represented by Cole
Schotz PC and Arent Fox, LLP lawyers.  CohnReznick serves as the
panel's financial advisors.  The Committee consists of (i) Pro
Silver Star Limited; (ii) Summit Spine, LLC; and (iii) Vintage
Medical, LLC.  The Committee selected Pro Silver to serve as
Committee Chairperson.


FOREST PARK MEDICAL: Hires Spector & Johnson as Counsel
-------------------------------------------------------
Forest Park Medical Center, LLC seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of Texas to employ
Spector & Johnson, PLLC as counsel.

The Debtor requires Spector & Johnson to:

   (a) provide legal advice with respect to its powers and duties
       as debtor-in-possession;

   (b) prepare and pursue confirmation of a plan and approval of a

       disclosure statement;

   (c) prepare on behalf of the Debtor necessary applications,
       motions, answers, orders, reports and other legal papers;

   (d) appear in Court and protect the interests of the Debtor
       before the Court; and

   (e) perform all other legal services for the Debtor which may
       be necessary and proper in the proceeding.

Spector & Johnson will be paid at these hourly rates:

       Howard Marc Spector       $325
       Nathan M. Johnson         $300

Spector & Johnson will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Spector & Johnson received funds pre-petition in the amount of
$80,000. Of this amount, $1,717 was deducted for the filing fee for
the case and an additional $1,325 was deducted to pay for
pre-petition services rendered. Of the remaining $76,958, $38,000
is earmarked to serve as a retainer for the firm for post-petition
services, leaving a surplus of $38,958 in the firm's IOLTA
account.

Howard Marc Spector, member-manager of Spector & Johnson, assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Spector & Johnson can be reached at:

       Howard Marc Spector, Esq.
       Nathan M. Johnson, Esq.
       SPECTOR & JOHNSON, PLLC
       12770 Coit Road, Suite 1100
       Dallas, TX 75251
       Tel: (214) 365-5377
       Fax: (214) 237-3380
       E-mail: hspector@spectorjohnson.com

Forest Park Medical Center, LLC, based in Dallas, Texas, sought
Chapter 11 bankruptcy protection (Bankr. E.D. Tex. Case No.
16-40302) on February 21, 2016.  Howard Marc Spector, Esq., at
Spector & Johnson PLLC, serves as counsel to the Debtor.  In its
petition, the Debtor estimated $10 million to $50 million in both
assets and liabilities.  The petition was signed by David Genecov,
chairman of the Board of Managers.


FOREST PARK MEDICAL: Taps BlackBriar Advisors to Provide CRO
------------------------------------------------------------
Forest Park Medical Center, LLC seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of Texas to employ
BlackBriar Advisors, LLC as financial advisors and provide Robert
Schleizer as chief restructuring officer as of the February 21,
2016 petition date.

Mr. Schleizer and BlackBriar Advisors will provide the ordinary
course duties of a Chief Restructuring Officer and financial
advisor, including:

   (a) managing the Debtor's Chapter 11 case, including, without
       limitation, management and oversight of any sale of the
       Debtor's assets and development of a Disclosure Statement
       and Plan of Reorganization, if needed;

   (b) marketing the Debtor's Hospital for sale in conjunction
       with, or separately from, the sale of the non-owned real
       estate upon which the Hospital is located;

   (c) assisting in obtaining and presenting information required
       by parties-in-interest in the Debtor's bankruptcy process
       including any official committee appointed by the United
       States Bankruptcy Court for the Eastern District of Texas;

   (d) providing assistance in such areas as testimony before this

       Court on matters that are within the scope of this
       engagement and within his area of Mr. Schleizer's
       testimonial competencies;

   (e) assisting with such other matters as may be requested that
       fall within Mr. Schleizer's expertise and that are mutually

       agreeable; and

   (f) providing such professional services are necessary to the
       Debtor's restructuring efforts and in the ongoing operation

       and management of the Debtor's businesses while subject to
       Chapter 11 of the Bankruptcy Code.

Blackbriar Advisors will be paid at these hourly rates:

       Robert Schleizer             $395
       Randall Kurtz                $395
       Harold Kessler               $395
       Chrystal Haag Morris         $345
       Directors                    $295
       Senior Financial Analyst     $245
       Financial Analyst            $195

BlackBriar Advisors will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Mr. Schleizer and BlackBriar Advisors, LLC are to receive a
retainer from funds currently held by the Debtor's counsel in the
amount of $25,000.

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

BlackBriar Advisors can be reached at:

       Bob Schleizer
       Blackbriar Advisors, LLC
       901 Main Street, Suite 600
       Dallas, TX 75202
       Tel: (214) 599-8600
       E-mail: bschleizer@blackbriaradvisors.com

Forest Park Medical Center, LLC, based in Dallas, Texas, sought
Chapter 11 bankruptcy protection (Bankr. E.D. Tex. Case No.
16-40302) on February 21, 2016.  Howard Marc Spector, Esq., at
Spector & Johnson PLLC, serves as counsel to the Debtor.  In its
petition, the Debtor estimated $10 million to $50 million in both
assets and liabilities.  The petition was signed by David Genecov,
chairman of the Board of Managers.


FRANKLIN INTERNATIONAL: Case Summary & Unsecured Creditor
---------------------------------------------------------
Debtor: Franklin International Partners Corp
        24827 Sweetgrass Court
        Murrieta, CA 92563

Case No.: 16-12260

Chapter 11 Petition Date: March 14, 2016

Court: United States Bankruptcy Court
       Central District of California (Riverside)

Debtor's Counsel: Marc A Duxbury, Esq.
                  COUNTY LAW CENTER
                  1901 Camino Vida Roble, Ste 114
                  Carlsbad, CA 92008
                  Tel: 760-438-5291
                  E-mail: info@countylawcenter.com

Total Assets: $1.73 million

Total Liabilities: $756,881

The petition was signed by Leon Lamarr Franklin, president.

The Debtor's list of top unsecured creditors only contains a lone
entry, Barclays Bank Business Services with a claim of $3,000,

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

          http://bankrupt.com/misc/cacb16-12260.pdf


FREEDOM ACADEMY: S&P Assigns 'BB' Rating on $6.1MM Revenue Bonds
----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' rating to
Phoenix Industrial Development Authority, Ariz.'s $6.1 million
series 2016 fixed-rate education facility revenue bonds issued for
Freedom Academy.  The outlook is stable.

"The rating reflects our assessment of the academy's uneven demand
profile with a lack of a meaningful waitlist, turnover in
leadership which has led to declines in enrollment at the Pima
Campus, only adequate pro forma maximum annual debt service
coverage, and an average debt burden for the rating," said Standard
& Poor's credit analyst Luke Gildner.  Factors supporting the
rating include the school's solid balance sheet metrics
characterized by strong liquidity, a history of consistent
operating surpluses, and solid academic performance.

The stable outlook reflects S&P's expectation that during the next
year management will meet enrollment projections and operations
will continue to be positive on a full accrual basis.

S&P do not expect to take a positive rating action during the
one-year outlook period; however, S&P could take a positive rating
action over a longer term if the charter school can sustain
enrollment growth at both campuses while continuing to produce
operating results that are consistent with a higher rating.

S&P could lower the rating if maximum annual debt service falls
below 1.0x for consecutive years, enrollment does not meet
projections, operations weaken, or the balance sheet deteriorates
significantly.

Freedom Academy operates two kindergarten through eighth grade
charter schools located in the Scottsdale, Ariz. area.  The two
campuses, known as Pima Campus and Paradise Campus, were
historically situated in leased facilities.



FREEDOM COMMUNICATIONS: Selects $45.5-Mil. Lead Offer
-----------------------------------------------------
Stephanie Gleason, writing for Dow Jones' Daily Bankruptcy Review,
reported that Freedom Communications Inc., the bankrupt publisher
of the Orange County Register, has selected a $45.5 million offer
from newspaper publisher Digital First Media to lead an auction for
its assets.

According to the report, a lead, or stalking-horse, bidder is named
in an auction to set a floor price for assets on the auction block.
The selection of Digital First ensures that Freedom, which also
publishes the Riverside Press-Enterprise and holds a number of real
estate assets, will sell for at least $45.5 million, the report
related.  In exchange for the early offer, Digital First, whose
largest shareholder is private equity firm Alden Global Capital LLC
, will be entitled to a $200,000 fee if the assets are sold to
another bidder, the report further related.

                   About Freedom Communications

Headquartered in Santa Ana, California, Freedom Communications,
Inc., owns two daily newspapers -- The Press-Enterprise in
Riverside, Calif. and The Orange County Register in Santa Ana,
Calif.

Freedom Communications, Inc., et al., filed Chapter 11 bankruptcy
petitions (Bankr. C.D. Cal. Lead Case No. 15-15311) on Nov. 1,
2015, with the intention of selling their assets to a group of
local investors led by Rich Mirman,Freedom's chief executive
officer and publisher.

Richard E. Mirman, the chief executive officer, signed the
petitions.

Freedom Communications Holdings estimated both assets and
liabilities in the range of $10 million to $50 million.

Lobel Weiland Golden Friedman LLP serves as the Debtors' counsel.


GEORGE JOHNSON: Court Must Revisit Student Debt Dischargeability
----------------------------------------------------------------
Diane Davis, writing for Bloomberg Brief, reported that student
loan guarantor Educational Credit Management Corporation (ECMC) is
getting another chance in bankruptcy court to show that the
debtors' discharge of their student loans in bankruptcy was
improper, a federal district court in Kansas held on March 1.

According to the report, Judge Julie A. Robinson of the U.S.
District Court for the District of Kansas vacated the bankruptcy
court's decision, concluding that the case should be remanded for
further proceedings to make more complete findings under the second
and third factors of the Brunner test and the impact of the Income
Based Repayment plan on the bankruptcy court's good faith analysis.
Since courts are divided on this issue, the outcome for the
debtors' student loan debt could go either way, depending on the
bankruptcy court's findings, the report said.

The Tenth Circuit (where appeals from the District of Kansas are
made) has joined eight other circuits in adopting the three-part
test set forth in Brunner v. New York State of Higher Education
Services, 831 F.2d 395 (2d Cir. 1987), to determine what
constitutes "undue hardship" for purposes of determining whether a
student loan debt may be discharged in bankruptcy under Bankruptcy
Code Section 523(a)(8), the report related.

The three-part test in Brunner includes:

"(1) that the debtor cannot maintain, based on current income and
expenses, a 'minimal' standard of living for herself and her
dependents if forced to repay the loans;

(2) that additional circumstances exist indicating that this state
of affairs is likely to persist for a significant portion of the
repayment period of the student loans; and

(3) that the debtor has made good faith efforts to repay the
loans."

ECMC contended that the bankruptcy court's decision to discharge
debtors' George and Melanie Johnson's student loan debt was
improper because the debtors didn't meet the second and third
prongs under Brunner, the report further related.  The bankruptcy
court determined that the repayment period of the loan had already
expired, which was not supported by the evidence, the report
added.

The district court remanded the case for further analysis and
clarification on whether George's unemployment is temporary, his
future earning potential, and the correct repayment period of the
loan, the report said.


GLOBAL PAYMENTS: Moody's Assigns Ba2 CFR & Rates $4.8BB Debt Ba2
----------------------------------------------------------------
Moody's Investors Service assigned to Global Payments Inc. a Ba2
Corporate Family Rating and Ba2 ratings to the company's $4.8
billion of existing and proposed senior secured credit facilities.
The ratings have a stable outlook.  Moody's also assigned to Global
Payments a Speculative Grade Liquidity Rating of SGL-1.  The
company will use cash on hand, proceeds from the new credit
facilities and a common stock issuance to finance the pending
acquisition of Heartland Payment Systems, Inc. for approximately
$4.3 billion.

                         RATINGS RATIONALE

Moody's estimates that pro forma for the acquisition, Global
Payments' total debt to EBITDA (Moody's adjusted) will be
approximately 5.8x, before including $125 million of cost synergies
that Global Payments expects to achieve by fiscal year-end 2018.
The Ba2 rating is based on Moody's expectation that Global
Payments' leverage will decline to below 4x by year-end 2017, from
a combination of EBITDA growth of at least mid-teens percentages
and debt reduction.  Moody's leverage ratio includes estimated
average outstanding balances under the company's short term lines
of credit to facilitate fund settlements, which add about a half
turn to total debt to EBITDA ratio.

The rating is supported by Global Payments' recurring,
transaction-based revenues and Moody's expectation that the
combined companies will generate organic net revenue growth in the
high single digit percentages on a constant currency basis.  The
acquisition of Heartland will enhance Global Payments' operating
scale and direct sales distribution capability in the US.  However,
initial leverage is high and the rating incorporates Global
Payments' elevated execution risk in integrating its largest
acquisition.  The risks are tempered by Global Payments' very good
prospective liquidity and Moody's opinion that integration will not
disrupt Heartland's existing direct sales channels or its unique
sales incentive plans in a meaningful way in the near term.  The
Ba2 rating further reflects management's commitment to deleverage
and maintain leverage in the 2.5x to 3.5x range on its reported
basis, which excludes outstanding borrowings under short-term
credit lines for fund settlement.

The stable ratings outlook reflects Moody's expectation that Global
Payments will generate strong net revenue growth and debt balances
will steadily decline over the next 12 to 18 months.

The SGL-1 Speculative Grade Liquidity Rating is based on Moody's
view that Global Payments will maintain very good liquidity,
principally consisting of it prospective free cash flow and
approximately $325 million of availability under the long-term
revolving line of credit.

Moody's could downgrade Global Payments' ratings if organic net
revenue growth weakens materially, or Moody's believes that weak
operating performance or changes in financial policies will cause
total debt to EBITDA (Moody's adjusted) to remain above 4.5x and
free cash flow falls to the mid-single digit percentages of total
adjusted debt for an extended period of time.  The rating could be
upgraded if the company maintains strong operating cash flow growth
and Moody's believes that Global Payments could maintain total debt
to EBITDA below 3.5x, while accommodating moderate-sized tuck-in
acquisitions and share repurchases.

Ratings Assigned:

Issuer: Global Payments Inc.

  Corporate Family Rating - Ba2
  Probability of Default Rating - Ba2-PD
  $1.25 billion of senior secured revolving credit facility - Ba2
   (LGD 3)
  $1.75 billion of senior secured Term Loan A facility - Ba2
   (LGD 3)
  $735 million of senior secured Term Loan A-2 facility - Ba2
   (LGD 3)
  $1.045 billion of senior secured Term Loan B facility - Ba2
   (LGD 3)
  Speculative Grade Liquidity Rating - SGL-1

Outlook

  Stable Outlook

Global Payments is a leading provider of merchant acquiring and
payment technology services to merchants in 29 countries.

The principal methodology used in these ratings was Business and
Consumer Service Industry published in December 2014.



GORDIAN MEDICAL: Court Enters Final Decree Closing Chapter 11
-------------------------------------------------------------
The Hon. Mark S. Wallace of the U.S. Bankruptcy Court for the
Central District of California entered a final decree closing the
Chapter 11 case of Gordian Medical, Inc.

The Reorganized Debtor is authorized and directed to take all
actions necessary and appropriate to wind-up the affairs of the
case including, but not limited to paying any outstanding
quarterly fees to the Office of the U.S. Trustee.

The Debtor was represented by:

         Malhar S. Pagay, Esq.
         PACHULSKI STANG ZIEHL & JONES LLP
         10100 Santa Monica Blvd., 13th Floor
         Los Angeles, CA 90067
         Tel: (310) 277-6910
         Fax: (310) 201-0760
         E-mail: mpagay@pszjlaw.com

As reported by the Troubled Company Reporter on June 3, 2015, Judge
Wallace has confirmed the Debtor's Second Amended Plan of
Reorganization dated April 27, 2015.

The Plan provides for the payment in full plus interest to all
holders of allowed claims.  No rights of creditors have been
impaired under the Plan.

The Plan requires payments of approximately $13.7 million to
creditors on the Effective Date; the Debtor has access to
approximately $18 million to fund those payments.

The Plan will require monthly payments of approximately $305,000
for 84 months and the Court finds that the Debtor will have
sufficient cash flow to make those monthly payments.

The Court ruled that the Debtor has met the burden of proving the
elements of Sections 1129(a) and (b) of the Bankruptcy Code by a
preponderance of evidence.

The Debtor did not file a Disclosure Statement and did not solicit
votes on the Plan as no classes of creditors are impaired under the
Plan.  The judge ruled that the Plan contains adequate information
for creditors and interest holders to make the required "informed
judgment" about the Plan.

A copy of the Court's findings of fact and conclusions of law with
regard to the Debtor's Second Amended Plan is available for free
at:

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

A red-lined copy of the Second Amended Plan is available for free
at:

      http://bankrupt.com/misc/Gordian_2nd_Am_Plan_Redline.pdf

                       About Gordian Medical

Gordian Medical, Inc., dba American Medical Technologies, filed a
Chapter 11 petition (Bankr. C.D. Cal. Case No. 12-12339) in Santa
Ana, California, on Feb. 24, 2012, after Medicare refunds were
halted.  Irvine, California-based Gordian Medical provides supplies
and services to treat serious wounds.  The Debtor has active
relationships with and serves patients in more than 4,000 nursing
facilities in 49 states with the heaviest concentration of the
nursing homes being in the south and southeast sections of the
United States.

In its schedules, the Debtor disclosed $37.9 million in assets and
$7.59 million in liabilities as of the Petition Date.

Judge Mark S. Wallace oversees the case.

Jeffrey L Kandel, Esq., Teddy M Kapur, Esq., Samuel R. Maizel,
Esq., and Scotta E. McFarland, Esq., at Pachulski Stang Ziehl &
Jones LLP, represent the Debtor as counsel.  Fulbright & Jaworski
LLP serves as the Debtor's special regulatory counsel.  Loeb & Loeb
LLP serves as the Debtor's special tax counsel.  GlassRatner
Advisory & Capital Group LLC serves as the Debtor's financial
advisor.

The U.S. Trustee appointed five members to the Official Committee
of Unsecured Creditors.  The Committee is represented by Landau
Gottfried & Berger LLP.


GRAHAM GULF: Has Final Authority to Use Cash Collateral
-------------------------------------------------------
Judge Henry A. Callaway of the U.S. Bankruptcy Court for the
Southern District of Alabama gave Graham Gulf, Inc., final
authority to use cash collateral securing its prepetition
indebtedness and $1,000,000 in additional funding extended by the
Debtor's president and ultimate beneficial owner of all equity
interests in the Debtor, Janson Graham.

According to the Debtor, the cash collateral and additional funding
is necessary to avoid immediate and irreparable harm to its estate.
The Cash Collateral will be used for the maintenance and
preservation of the Debtor's assets, collection of its accounts
receivable, and payment of items.

In addition to Cash Collateral arising from the collection of
customer accounts as contemplated by the Budget, Judge Callaway
also authorized the Debtor to use Cash Collateral resulting from
the recent tax refund received from the Internal Revenue Service in
the amount of $72,270 and the insurance proceeds received in the
amount of $170,489.  The Budget provides, among other things, that
the Debtor will pay Wells Fargo Professional Fee Advances for
reimbursement of Wells Fargo's professional fees incurred in
connection with the Bankruptcy Case $50,000 plus an additional
$13,500 each week commencing the week of Sept. 19, 2015, and the
Debtor will pay to Wells Fargo interest payments in the amount of
$152,000 per month.

Judge Callaway further orders that no proceeds of the Pre-Petition
Collateral or any asset which the Debtor obtains after the Petition
Date in which Wells Fargo has a lien may be utilized to finance any
claims or causes of action against Wells Fargo arising from or
relating to the Pre-Petition Loan Documents or the Interim Orders,
except as specifically provided by the Interim Orders and the Final
Order. However, the Committee is not preclude the use of Cash
Collateral to pay up to $20,000.00 for professional fees,
disbursements, costs, or expenses incurred in connection with the
investigation of Pre-Petition Liens.

The Debtor is also directed to escrow $110,000 of insurance
proceeds in a separate Insurance Proceeds Account for which all
valid liens shall attach and to maintain a Minimum Liquidity Amount
in its Collection, Payroll, and Operating Accounts a total deposits
of no less than $100,000 as part of the adequate protection
provided to Wells Fargo and the Pre-Petition Lenders, and as a
condition of Wells Fargo’s consent to the use of its Cash
Collateral.

A full-text copy of the Final Order with Budget is available at
http://bankrupt.com/misc/GRAHAMcashcolord0202.pdf

                  About Graham Gulf

Founded in 1996, Graham Gulf, Inc. operates 11 fast supply vessels
designed specifically for providing a more efficient and
cost-effective support for field production operations and remote
drilling location services.

Graham Gulf filed Chapter 11 bankruptcy petition (Bankr. S.D. Ala.
Case No. 15-03065) on Sept. 18, 2015.  The petition was signed by
Janson Graham, the president and owner.  The Debtor estimated
assets and liabilities in the range of $10 million to $50 million.

Helmsing, Leach, Herlong, Newman & Rouse PC serves as the Debtor's
counsel.

Six creditors were appointed to Graham Gulf's official committee of
unsecured creditors.  The creditors are Superior Shipyard &
Fabrication Inc., Thrustmaster of Texas Inc., American Supply LLC,
Safety Controls Inc., Force Power Systems LLC and United Power
Systems LLC.


HARTFORD & SONS: Approval of Deal Isn't "Final" Order
-----------------------------------------------------
Diane Davis, writing for Bloomberg Brief, reported that a
bankruptcy court's order approving a settlement regarding
fraudulent transfers and unauthorized post-petition transfer
litigation claims isn't a final order, for purposes of appellate
jurisdiction in a bankruptcy case, the U.S. Court of Appeals for
the Seventh Circuit held March 4.

According to the report, Judge Colin S. Bruce of the U.S. District
Court for the Central District of Illinois, sitting by designation,
concluded that the settlement order settled a "discrete issue"
within a "discrete dispute," rather than a "discrete dispute"
itself and therefore, the order isn't final for purposes of 28
U.S.C. § 158(d)(1).

The court said the appeal must be dismissed for lack of
jurisdiction, the report related.  While the issue that appellant
Schaumburg Bank & Trust Co., N.A. cares about may have been
resolved, its basic dispute with the bankrupt estate hasn't been
resolved and, thus, the judgment below isn't final, the appeals
court said, the report further related.

Hartford & Sons, LLC, filed for a Chapter 11 petition on August
30,
2013 (Bankr. N.D. Il. Case No. 13-34832).  The petition was signed
by Thomas Hartford, sole member.  The Debtor's counsel is David R.
Herzog, Esq. -- drhlaw@mindspring.com -- of HERZOG & SCHWARTZ,
P.C.
The Debtor estimated $1 million to $10 million in assets and
debts.  


HASHFAST TECHNOLOGIES: Bitcoins Not Dollars in Bankr. Court
-----------------------------------------------------------
Joyce E. Cutler, writing for Bloomberg Brief, reported that
bitcoins are not equivalent to dollars, a federal bankruptcy judge
ruled in a case of first impression involving a bitcoin mining
operation.

According to the report, the ruling, while limited to a clawback
motion involving a blogger paid to promote Hashfast Technologies
LLC, is the first in a bankruptcy court to address the
cryptocurrency for any purpose in a reported decision in the United
States, attorneys told Bloomberg BNA.

"The court does not need to decide whether bitcoin are currency or
commodities for purposes of the fraudulent transfer provisions of
the bankruptcy code.  Rather, it is sufficient to determine that,
despite defendant's arguments to the contrary, bitcoin are not
United States dollars," Judge Dennis Montali of the U.S. Bankruptcy
Court for the Northern District of California ruled in a two-page
order filed Feb. 22.

                   About HashFast Technologies

San Francisco, California-based HashFast Technologies LLC, a
startup Bitcoin miner manufacturer-turned-chipmaker.

Baker Hostetler LLP filed on behalf of Koi Systems, UBE
Enterprises, Timothy Lam, Edward Hammond, and Grant Pederson, an
involuntary Chapter 7 bankruptcy petition against HashFast
Technologies (Bankr. N.D. Cal. Case No. 14-30725) on May 9,
2014.


HOLDER GROUP: Asks Court to Dismiss Chapter 11 Bankruptcy Case
--------------------------------------------------------------
The Holder Group Sundance, LLC, asks the U.S. Bankruptcy Court for
the District of Nevada to dismiss its Chapter 11 case filed on
February 9, 2015.

Stephen R. Harris, Esq., at Harris Law Practice LLC, in Reno,
Nevada -- steve@harrislawreno.com -- tells the Court that there are
no remaining assets for the Debtor to administer or to continue to
need the protection of the Bankruptcy Court, and there is no
ability to file a plan of reorganization.

On December 3, 2015, the Court approved the lease of the Debtor's
real property to Winners Hotel and Casino, Inc., for purposes of
operating a gambling casino.  The lease has now been approved by
the Nevada Gaming Control Board, and Winners has assumed possession
of the property.

Mr. Harris informs the Court that Winners will pay the monthly
lease payments direct to the Debtor's primary secured creditors,
Plumas Bank and Nevada State Bank.  He adds that all unpaid fees
and costs owed to the Debtor's general bankruptcy counsel and
examiner will be paid from the proceeds of the purchase of the
"bank roll," which will be paid by Winners in monthly payments of
$2,500 until the total of $38,000 is paid in full.

The Court will commence a hearing on April 6, 2016, at 10:00 a.m.
to consider the request.

                 About The Holder Group Sundance

Reno, Nevada-based The Holder Group Sundance, LLC, filed a Chapter
11 bankruptcy petition (Bankr. D. Nev. Case No. 15-50157) on Feb.
9, 2015.  The petition was signed by Harold D. Holder Sr., the
manager.  Stephen R Harris, Esq., at Harris Law Practice LLC serves
as the Debtor's counsel.

The Debtor disclosed in its amended schedules $10,413,690 in assets
and $5,845,301 in liabilities as of the Chapter 11 filing.


HORSEHEAD HOLDING: Employs Lazard as Investment Banker
------------------------------------------------------
Horsehead Holding Corp., et al., ask the U.S. Bankruptcy Court for
the District of Delaware for permission to employ Lazard Freres &
Co. LLC and Lazard Middle Market LLC, as their investment banker,
nunc pro tunc to the Petition Date.

Lazard will advise and assist the Debtors in connection with:

   -- reviewing and analyzing the Debtors' business, operations,
and financial projections;

   -- evaluating the Debtors' potential debt capacity in light of
their projected cash flows;

   -- assisting in the determination of a capital structure for the
Debtors;

   -- assisting in the determination of a range of values for the
Debtors on a going concern basis;

   -- advising the Debtors on tactics and strategies for
negotiating with their stakeholders;

   -- rendering financial advice to the Debtors and participating
in meetings or negotiations with the Debtors' stakeholders and
rating agencies or other appropriate parties in connection with any
amendment or restructuring;

   -- advising the Debtors on the timing, nature, and terms of new
securities, other consideration, or other inducements to be offered
pursuant to any restructuring;

   -- advising and assisting the Debtors in evaluating any
potential financing transaction by the Debtors, including
contacting potential sources of capital and assisting the Debtors
in implementing such financing;

   -- assisting the Debtors in preparing documentation within
Lazard' s area of expertise that is required in connection with any
financing, amendment, sale, or restructuring;

   -- assisting the Debtors in identifying and evaluating
candidates for any potential sale transaction, advising the Debtors
in connection with negotiations and aiding in the consummation of
any sale transaction;

   -- attending meetings of the Debtors' board of directors with
respect to matters on which Lazard has been engaged to advise under
the Engagement Letter;

   -- providing testimony, as necessary, with respect to matters on
which Lazard has been engaged to advise under the Engagement Letter
in any proceeding before the Court; and

   -- providing the Debtors with other financial restructuring
advice.

Lazard's fee structure provides that the Debtors will pay Lazard
these fees:

   -- a monthly fee of $125,000;

   -- a fee, payable upon consummation of a financing calculated by
multiplying the applicable fee percentage below by the total gross
proceeds raised or committed in each financing:

         Funds Raised                                 Fee
         ------------                                 ---
         First Lien Debt                             1.50%
         Second Lien Debt                            2.50%
         Unsecured Debt                              3.50%
         Equity
        (other than Stifel Developed Equity Sales)   6.00%

In the case of any Stifel Developed Equity Sale, if such sale is
not made in conjunction with a restructuring, Lazard will be paid a
financing fee equal to 2.00% of the gross proceeds raised or
committed.

Fifty percent (50%) of any Financing Fee will be credited (without
duplication) against any subsequent Restructuring Fee or Sale
Transaction Fee payable to Lazard.

Lazard will also be paid a fee equal to $3,500,000 upon the
consummation of a restructuring.  If, whether in connection with
the consummation of a restructuring or otherwise, the Debtors
consummate a sale transaction incorporating all or a majority of
the assets or all or a majority or controlling interest in the
equity securities of the Debtors, and the Debtors have requested
Lazard's assistance in negotiating and implementing the sale
transaction, Lazard will be paid a fee equal to $3,500,000 plus
5.0% of the aggregate consideration over $500,000,000.  For the
avoidance of any doubt, the Debtors will pay either the
restructuring fee or the sale transaction fee, as applicable, but
not both.

The Debtors intend that Lazard's services will complement, and not
duplicate, the services to be rendered by any other professional
retained by the Debtors in the chapter 11 cases.

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

                  About Horsehead Holding Corp.

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

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

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

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


HORSEHEAD HOLDING: Taps Aird & Berlis as Canadian Counsel
---------------------------------------------------------
Horsehead Holding Corp., et al., asks the US. Bankruptcy Court for
the District of Delaware for permission to employ Aird & Berlis LLP
as their Canadian counsel nunc pro tunc to Feb. 2, 2016.

A&B will advise the Debtors on relevant aspects of Canadian law and
take all actions necessary to protect the Debtors' interests in
connection with the Companies' Creditors Arrangement Act in
accordance with that certain engagement letter dated Feb. 19,
2016.

A&B will:

    -- provide legal services in connection with proceedings under
the CCAA, before the Ontario Superior Court of Justice (Commercial
List), including seeking recognition of the chapter 11 cases under
the CCAA; and

   -- provide legal services which are reasonably necessary and
appropriate to carry out the seeking of recognition, including,
without limitation, advice and representation as it pertains to
matters of Canadian law affecting the Debtors in connection with
the chapter 11 proceedings.

While certain aspects of the representation will necessarily
involve both A&B and the Debtors' bankruptcy co-counsel Kirkland &
Ellis LLP and Pachulski, the Debtors believe that A&B's services
will complement, rather than duplicate, the services to be
performed by such bankruptcy co-counsel.  

A&B will charge the Debtors its standard hourly rates for the
duration of the engagement, which are:

      Partners                            C$450 - C$825
      Associates                          C$245 - C$305
      Law Clerk                               C$340

In addition to the compensation for services rendered, A&B will be
reimbursed for all reasonable out-of-pocket expenses incurred
relating directly to work performed for the Debtors.

During the 90 days prior to the Petition Date, A&B received payment
from the Debtors for professional services rendered in the ordinary
course of business in the aggregate amount of C$74,575 in fees and
C$424 in expenses, for a total of C$75,000, all amounts including
applicable taxes.

To the best of the Debtors' knowledge, A&B does not hold or
represent any interest adverse to the Debtor or its estate with
respect to the specific matters for which retention is sought.

                  About Horsehead Holding Corp.

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

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

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

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


HORSEHEAD HOLDING: Taps Epiq Bankruptcy as Administrative Advisor
-----------------------------------------------------------------
Horsehead Holding Corp., 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 fro tunc to Feb. 2,
2016.

Epiq will, among other things, provide these bankruptcy
administrative services, if and to the extent the Debtors request:

   a. 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
plan of reorganization;

   b. generate an official ballot certification and testifying, if
necessary, in support of the ballot tabulation results;

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

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

   e. provide a confidential data room;

   f. manage any distributions pursuant to a confirmed plan of
reorganization; and

   g. 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 from time to time by the Debtors.

Prior to the Petition Date, the Debtors provided Epiq a retainer in
the amount of $20,000.  Epiq seeks to first apply the retainer to
all prepetition invoices, which retainer will be replenished to the
original retainer amount, and thereafter, Epiq may hold such
retainer during the cases as security for the payment of fees and
expenses incurred under the services agreement.

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 Horsehead Holding Corp.

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

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

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

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


HORSEHEAD HOLDING: Taps Pachulski Stang as Conflicts Counsel
------------------------------------------------------------
Horsehead Holding Corp., et al., ask the U.S. Bankruptcy Court for
the District of Delaware for permission to employ Pachulski Stang
Ziehl & Jones LLP as co-counsel and conflicts counsel nunc pro tunc
to the Petition Date.

PSZ&J will:

   a. provide legal advice regarding local rules, practices, and
procedures;

   b. review and comment on drafts of documents to ensure
compliance with local rules, practices, and procedures;

   c. file documents as requested by Kirkland & Ellis and
coordinating with the Debtors' claims agent for service of
documents;

   d. prepare agenda letters, certificates of no objection,
certifications of counsel, and notices of fee applications and
hearings;

   e. prepare hearing binders of documents and pleadings, printing
of documents and pleadings for hearings;

   f. appear in Court and at any meeting of creditors on behalf of
the Debtors in its capacity as co-counsel with Kirkland & Ellis;

   g. monitor the docket for filings and coordinating with Kirkland
& Ellis on pending matters that need responses;

   h. prepare and maintain critical dates memorandum to monitor
pending applications, motions, hearing dates and other matters and
the deadlines associated with same; distributing critical dates
memorandum with Kirkland & Ellis for review and any necessary
coordination for pending matters;

   i. handle inquiries and calls from creditors and counsel to
interested parties regarding pending matters and the general status
of these cases, and, to the extent required, coordinating with
Kirkland & Ellis on any necessary responses;

   j. provide additional administrative support to Kirkland &
Ellis, as requested; and

   k. serve as conflicts counsel for the Debtors with respect to
any matters for which Kirkland & Ellis may have a conflict.

The Debtors agreed that compensation will be payable to PSZ&J on an
hourly basis, plus reimbursement of actual, necessary expenses and
other charges incurred by PSZ&J.  The current standard hourly rates
are:

   a. Laura Davis Jones                          $1,050
   b. James E. O'Neill                             $795
   c. Joseph Mulvihill                             $425
   d. Kathleen F. Finlayson                        $325

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

PSZ&J has received payments from the Debtors during the year prior
to the Petition Date in the amount of $135,302, including the
Debtors' aggregate filing fees for the cases, in connection with
its prepetition representation of the Debtors.  PSZ&J is current as
of the Petition Date, but has not yet completed a final
reconciliation of its prepetition fees and expenses.  Upon final
reconciliation of the amount actually expended prepetition, any
balance remaining from the prepetition payments to the Firm will be
credited to the Debtors and utilized as PSZ&J's retainer to apply
to postpetition fees and expenses pursuant to the compensation
procedures approved by this Court in accordance with the Bankruptcy
Code.

                  About Horsehead Holding Corp.

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

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

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

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


HRK HOLDINGS: Exclusive Plan Filing Period Extended to May 14
-------------------------------------------------------------
HRK Holdings, LLC, and HRK Industries, LLC, sought and obtained an
order from the Bankruptcy Court extending the time in which they
must file their Chapter 11 plan and disclosure statement through
and including May 14, 2016.

Scott A. Stichter, Esq., at Stichter Riedel Blain & Postler, P.A.,
in Tampa, Florida -- sstichter@srbp.com -- told the U.S. District
Court for the Middle District of Florida that the Debtors seek
additional time because they are currently formulating a new
marketing strategy to promote additional sales of the remaining
parcels of HRK Holdings' real property in Manatee County, Florida.

Mr. Stichter added that the Debtors have also filed a motion to
compromise claims with certain defendants in the litigation pending
in the Circuit Court of the Ninth Judicial Circuit, in and for
Orange County, Florida, Case Number 2013-CA-000098-O.

                       About HRK Holdings

HRK Holdings and HRK Industries LLC filed for Chapter 11 protection
(Bankr. M.D. Fla. Case Nos. 12-09868 and 12-09869) on June 27,
2012.  Judge K. Rodney May oversees the case.  Barbara A. Hart,
Esq., and Scott A. Stichter, Esq., at Stichter, Riedel, Blain &
Prosser, P.A., represents the Debtors.

HRK Holdings disclosed $33.4 million in assets and $26.09 million
in liabilities in its revised schedules.

According to the Debtors, the bankruptcy filing was necessitated by
the immediate need to sell a portion of the remaining property to
create liquidity for (a) funding the urgent management of the
site-related environmental concerns; the benefit of creditors;
funding a litigation filed by the Debtors; and funding of expenses
related to additional sales of the remaining property.

HRK Holdings is selling real property assets to Allied Universal
Corp. and Mayo Fertilizer, Inc.  The Court allowed HRK and the
purchasers to enter into any modifications to the agreements
without need of further Court approval, provided that no amendments
will occur without prior consent of Regions Bank.


I.E.C. RENTALS: Amends Schedules of Assets and Debt
---------------------------------------------------
I.E.C. Rentals, Inc., in January filed with the U.S. Bankruptcy
Court for the Middle District of Florida amended schedules of
assets and liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $7,016,582
  B. Personal Property            $2,097,282
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                    $6,062
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                          $163,730
                                 -----------      -----------
        Total                     $9,113,864         $169,792

The Debtor disclosed total assets of $6,906,812 and the same amount
of liabilities in the previous iteration of the schedules.

A copy of the Amended Schedules is available for free at:

     http://bankrupt.com/misc/IEC_Rentals_135_Am_SAL.pdf

                     About I.E.C. Rentals

Naples, Florida-based I.E.C. Rentals, Inc., sought Chapter 11
protection (Bankr. M.D. Fla. Case No. 15-02491) in Ft. Myers,
Florida, on March 12, 2015.  Robert E. Cadenhead, the director,
signed the petition.  

The Debtor is represented by Joey M Grant, Esq., at Marshall
Socarras Grant, in Boca Raton, Florida, as counsel.

In December 2015, Jeffrey William Leasure was named Chapter 11
Trustee.  The Trustee won approval to employ Daniel R. Fogarty and
Stichter, Riedel, Blain & Postler, P.A. as counsel.

Following the appointment of Mr. Leasure, the U.S. Trustee withdrew
its bid to dismiss or convert the Chapter 11 case.


INDIANA REGIONAL: Moody's Lowers Rating to Ba1; Outlook Negative
----------------------------------------------------------------
Moody's Investors Service downgrades Indiana Regional Medical
Center's (IRMC) to Ba1 from Baa3, affecting $34.8 million of debt
issued through the Indiana County Hospital Authority.  The rating
outlook is negative.

The downgrade to Ba1 follows a new lower level of operating
performance with margins constrained by weaker volumes, heavy
competition in greater-Pittsburgh, and the potential for further
dilution of balance sheet resources with campus construction and an
underfunded defined benefit pension liability.  IRMC's still strong
liquidity position, its essential status as a sole community
provider, and still sufficient debt measures, despite weakened
operations, support the Ba1 at this time.

                          Rating Outlook

The negative outlook reflects IRMC's continuation of and
significant deviation from expected performance through six-months
of 2016.  While Moody's acknowledges seasonality and more favorable
volume patterns in the latter part of the year, liquidity will
continue to decline with funding of committed capital projects and
growth of its employed physician group.  The outlook also
incorporates our expectation of an imminent rating covenant
violation and thinning headroom to other financial covenants
contained in bond and bank documents.

Factors that Could Lead to an Upgrade

  Restored and sustained operating margins to levels consistent
   with the Baa3 medians
  Material enterprise growth

Factors that Could Lead to a Downgrade

  Decline in liquidity, outside of current expectations
  Inability to generate cash-flow sufficient to meet operating
   needs and sustain current balance sheet metrics
  Violation of bond or bank covenants which accelerates repayment
   or impairs bondholder security
  Increase in debt
  Loss of Sole Community Hospital status such that financial
   performance or market share is impacted

                          Legal Security

The Series 2014 fixed and variable rate bonds are to be secured by
a Gross Revenue Pledge made by the Obligated Group comprised of
Indiana Regional Medical Center and Indiana Healthcare Physician
Services, Inc.  The Members of the Obligated Group are jointly and
severally obligated on all Obligations, which are issued pursuant
to the Master Indenture.  There is a Mortgage provided to Master
Trustee, and a Debt Service Reserve Fund for the 2014A Bonds.

                         Obligor Profile

Indiana Healthcare Corporation and Affiliates', d/b/a Indiana
Regional Medical Center (IRMC) is a single-hospital system with 164
licensed beds, 60 miles northeast of Pittsburgh, in Indiana
Borough, PA, the county seat of Indiana County.  IRMC is the
leading healthcare provider in its primary service area and the
county and is designated as a Sole Community Hospital by the Center
for Medicare and Medicaid Services of the U.S. Department of Health
and Human Services.



INTERNATIONAL TECHNICAL: Wants June 16 as Plan Filing Deadline
--------------------------------------------------------------
International Technical Coatings, Inc., asks the U.S. Bankruptcy
Court for the District of Arizona to extend until June 16, 2016,
the exclusive period within which to file a Chapter 11 plan and the
exclusive solicitation period until Aug. 14, 2016.

The Debtor says in its motion that its case is complex -- it Debtor
has active operations in both Phoenix and Columbus, has over $50
million in assets and over $40 million in liabilities.  In
addition, the Debtor has hundreds of unsecured creditors and
numerous and varied business relationships.  

The Debtor and its financial advisor believe that an additional
time is necessary to prepare a plan that addresses the myriad of
issues confronting this business.  Those issues include:
refinancing, the possible sale of assets, negotiations regarding
ownership issues, addressing reclamation claims, and preparing the
financial projections and the other accoutrements of a disclosure
statement.  The Debtor and its creditors are also awaiting the
results of the 2014 and 2015 audits -- which the Debtor hopes to
have no later than March 31, 2016.  Those audits will assist the
Debtor's understanding of its economic history and are a
requirement to obtain financing.

The Debtor assures the Court that it is making progress toward
reorganization.  Since the petition, the business has demonstrated
substantial economic progress -- increasing its cash position by
more than 500%. Further, the Debtor has begun discussions with the
creditors regarding the shape of a plan of reorganization.  The
Debtor is also paying its post-petition obligations as they arise.

The Official Committee of Unsecured Creditor takes no issue with
the Debtor's request for a 90-day extension of the exclusivity
period.  The Committee reserves its rights to oppose any future
requests for extensions of the exclusivity period.

On March 14, 2016, Tommy Fisher, who has the largest economic
interest of any creditor in this case, filed with the Court an
objection to the extension, saying that he is prepared to move
forward on a plan of reorganization to take the Debtor out of
bankruptcy if exclusivity is denied.  Mr. Fisher has provided a
discussion term sheet of a plan to the Creditors' Committee with a
commitment of millions of dollars to fund a plan.  The Committee
encouraged Mr. Fisher, but indicated that they would like to see
the Debtor's projections on future income.

Mr. Fisher is represented by:

      Ryley Carlock & Applewhite
      John J. Fries, Esq.
      One North Central Avenue, Suite 1200
      Phoenix, AZ 85004-4417

On Dec. 23, 2015, the Debtor filed with the Court its schedules of
assets and liabilities, disclosing:

     Schedule A/B: Assets-Real and Personal Property

          1a. Real property:                        $4,418,328.00

          1b. Total personal property:             $53,296,590.23
                                                -----------------
          1c. Total of all property:               $57,714,918.23

     Summary of Liabilities

          Schedule D: Creditors Who Have Claims
            Secured by Property                    $28,909,207.87

          Schedule E/F: Creditors Who Have
            Unsecured Claims

              3a. Total claim amounts of
                  priority unsecured claims            $39,543.61

              3b. Total amount of claims of
                  nonpriority amount of
                  unsecured claims                 $11,401,572.07
                                                -----------------
          Total liabilities                        $40,350,323.55

A full-text copy of the Schedules, along with the list of the
Debtor's 20 largest unsecured creditors, is available for free at:

    http://bankrupt.com/misc/InternationalTechnical_124_SAL.pdf

The Debtor first filed its Schedules on Dec. 9, 2015, disclosing
$61,206,153.52 in total assets and $40,345,174 in total
liabilities, a copy of which is available for free at:

    http://bankrupt.com/misc/InternationalTechnical_80_SAL.pdf

                   About International Technical

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

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

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

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

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

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

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


INTERPARK INVESTORS: Has Until June 13 to File Plan, Disclosures
----------------------------------------------------------------
Judge Carol A. Doyle of the U.S. Bankruptcy Court for the Northern
District of Illinois, Eastern Division, ordered Interpark
Investors, LLC, to file Plan and Disclosure Statement by June 13,
2016.

Counsel preparing the documents must submit preliminary drafts to
the U.S. Trustee and creditors' counsel on the notice list in order
that comments may be received before filing.

The case is set for a status hearing on the filing of the plan and
disclosure statement on June 16, at 10:30 a.m.

Judge Doyle gave the Debtor until March 10 to file its schedules of
assets and liabilities and statement of financial affairs.

Interpark Investors, LLC is represented by:

     Peter J. Roberts, Esq.
     David R. Doyle, Esq.
     SHAW FISHMAN GLANTZ & TOWBIN LLC
     321 North Clark Street, Suite 800
     Chicago, Illinois 60654
     Telephone : (312) 541-0151
     Facsimile: (312) 980-3888
     Email: proberts@shawfishman.com
            ddoyle@shawfishman.com

Interpark Investors, LLC, sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Ill., Case No. 16-04404) on February
12, 2016.  The Debtor is a Single Asset Real Estate.  The case is
assigned to Judge Carol A. Doyle.  The Debtor's counsel is Peter J
Roberts, Esq., at Shaw Fishman Glantz & Towbin LLC, in Chicago,
Illinois.  The petition was signed by John J Fitzmaurice, manager
of Interpark Manager, LLC, the Debtor's manager.


J. CREW: TPG Said to Write Down Stake by 84% at End of 2015
-----------------------------------------------------------
Jodi Xu Klein and Sabrina Willmer, writing for Bloomberg Brief,
reported that David Bonderman's TPG Capital cut the value of its
stake in struggling clothing retailer J. Crew Group Inc. by 84
percent at the end of 2015.

According to the report, citing documents, the private equity firm,
which led a 2011 leveraged buyout of the company, told investors
that its $478.6 million equity holding in J. Crew was lowered to
$76 million.

The retailer has been weighed down by $2.1 billion of debt, most of
which was loaded on as TPG and Leonard Green & Partners took over.
J. Crew bonds were the worstperforming in the U.S. retail sector
last year, the report said.

"The market, currently trading the company's debt at a big
discount, is saying that it's unlikely that the equity has any
value," David Tawil, co-founder of New York-based Maglan Capital
LP, told Bloomberg.

                   *     *     *

The Troubled Company Reporter, on Sept. 4, 2015, reported that
Standard & Poor's Ratings Services revised its outlook New
York-based J. Crew Group Inc. to negative from stable.  At the same
time, S&P affirmed all ratings, including the 'B-' corporate credit
rating.

"The outlook revision reflects our expectation that operating
performance will continue to be weak in the next several quarters,
resulting in negative free operating cash flow generation in
fiscal
2015," said credit analyst Helena Song.  "We believe the specialty
apparel industry will remain difficult and highly promotional
because of increased competition and consumer caution and that J.
Crew has not yet been able to adequately navigate these trends.
The company's performance and credit metrics deteriorated
meaningfully in fiscal 2014 and S&P expects the trend to continue
in the remainder of fiscal 2015 and into 2016."


KALOBIOS PHARMA: Offered Financing to Aid Drug Purchase
-------------------------------------------------------
Christie Smythe and Steven Church, writing for Bloomberg Brief,
reported that KaloBios Pharmaceuticals Inc., the drug company that
plunged into bankruptcy after the arrest of its former Chief
Executive Officer Martin Shkreli, is getting some help for its plan
to buy a treatment for Chagas disease.

According to the report, citing a court filing, hedge fund Black
Horse Capital LP offered to buy at least 40 percent of the company
for $10 million on condition that Shkreli hold no more than 20
percent of KaloBios's voting shares.

Shkreli had owned about 50 percent of the stock before the
bankruptcy, the report noted.  At least a substantial portion of
his stake was used to secure his $5 million bail after he was
charged with securities fraud in December, the report said.

The proposal would allow KaloBios to buy rights to drug
benznidazole from Savant Neglected Diseases LLC, the report
related.  Under conditions of the deal, KaloBios must have $10
million in unencumbered cash when it exits bankruptcy protection,
the report added.

                 About KaloBios Pharmaceuticals

Based in South San Francisco, Calif., KaloBios Pharmaceuticals,
Inc., is a company biopharmaceutical company focused on the
development of monoclonal antibody therapeutics.

The Company's balance sheet at March 31, 2015, showed $32.0
million in total assets, $15.9 million in total liabilities, and a
stockholders' deficit of $16.1 million.

KaloBios Pharmaceuticals (Nasdaq: KBIO) on Dec. 29, 2015, filed a
voluntary petition for bankruptcy protection under Chapter 11 of
Title 11 of the United States Bankruptcy Code.  The filing was
made in the U.S. Bankruptcy Court for the District of Delaware
(Case No. 15-12628).

The Company is represented by Eric D. Schwartz of Morris, Nichols,
Arsht & Tunnell.


KEAHEY CARPENTER: Case Summary & 16 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Keahey Carpenter, Inc.
           dba Keahey Funeral Homes
           aka Keahey-Carpenter, Inc.
        206 Stanley Avenue
        Andalusia, AL 36420

Case No.: 16-10479

Chapter 11 Petition Date: March 14, 2016

Court: United States Bankruptcy Court
       Middle District of Alabama (Dothan)

Debtor's Counsel: J. Kaz Espy, Esq.
                  ESPY, METCALF & ESPY, P.C.
                  PO Drawer 6504
                  326 North Oates Street 36303
                  Dothan, AL 36302-6504
                  Tel: 334-793-6288
                  Fax: 334-712-1617
                  E-mail: lynnia@espymetcalf.com

Total Assets: $1.10 million

Total Liabilities: $1.24 million

The petition was signed by Kymberly C. Keahey, president.

A list of the Debtor's 16 largest unsecured creditors is available
for free at http://bankrupt.com/misc/almb16-10479.pdf


KIRWAN OFFICES: Involuntary Chapter 11 Case Summary
---------------------------------------------------
Alleged Debtor: Kirwan Offices S.a r.l.
                11/13 Boulevard de la Foire L-1528
                Luxembourg

Case Number: 16-22321

Involuntary Chapter 11 Petition Date: March 15, 2016

Court: United States Bankruptcy Court
       Southern District of New York (White Plains)

Judge: Hon. Robert D. Drain

Petitioners' Counsel: Jay M. Goffman, Esq.
                      SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
                      Four Time Square
                      New York, NY 10036
                      Tel: (212) 735-3000
                      Fax: (212) 735-2000
                      E-mail: JGoffman@skadden.com
                             jay.goffman@skadden.com

   Petitioners                  Nature of Claim   Claim Amount
   -----------                  ---------------  --------------
Mascini Holdings Limited        Unsecured Loan   EUR 24,894,359
2-4 Arch. Makarios III Avenue                          and
Capital Center, 9th Floor                          $168,194,481
Nicosia 1065, Cyprus

Lapidem Limited                 Unsecured Loan   EUR 16,596,239
c/o Intertrust Services                                and
(Cayman) Limited                                   $112,131,987
190 Elgin Avenue, George Town
Grand Cayman KY1-9005, Cayman Islands


KLX INC: Moody's Lowers CFR to B1, Outlook Stable
-------------------------------------------------
Moody's Investors Service downgraded the ratings of KLX Inc,
including the Corporate Family Rating to B1 from Ba2, the
Probability of Default Rating to B1-PD from Ba2-PD, and the senior
unsecured notes to B2 from Ba3.  The rating outlook is stable.

Issuer: KLX Inc.

These ratings were downgraded:

  Corporate Family Rating, downgraded to B1 from Ba2
  Probability of Default Rating, downgraded to B1-PD from Ba2-PD
  $1,200 million senior unsecured notes due 2022, downgraded to B2

   from Ba3 (LGD-4)

These ratings were raised:

  Speculative Grade Liquidity Rating raised to SGL-1
  Rating Outlook, Stable

                         RATINGS RATIONALE

The downgrade reflects revenue and earnings pressures in KLXs'
Energy Services Group (ESG) which continues to face challenging
operating conditions in a low oil price environment.  Moody's
anticipates that energy market headwinds will persist through the
balance of this year and into 2017.  This is expected to result in
continued margin and profit pressure and elevated leverage levels
(Moody's adjusted Debt-to-EBITDA of about 5x as of January 2016).

KLX is one of the leading distributors of aerospace fasteners and
consumables and Moody's believes a favorable set of commercial
aerospace fundamentals will continue to support the company's core
(84% of sales) aerospace solution business.  Tempering
considerations include high levels of Debt-to-EBITDA and continued
headwinds in the cyclical oil & gas segment which reduces revenue
and earnings visibility while pressuring margins and cash flows
downwards.  Concerns about potential shareholder-friendly actions
particularly around stock repurchases also weighs on the rating.

KLXs' liquidity profile is strong as indicated by the Speculative
Grade Liquidity Rating of SGL-1.  As of January 31, 2016, the
company held significant cash balances of almost $430 million.  KLX
generated free cash flow of $87 million during 2015 and Moody's
anticipates continued free cash flow generation in 2016 driven in
part by reduced capex levels, which are likely to be about $65
million.  External liquidity is provided by an undrawn $750 million
asset-backed revolver ($743 million available as of January 2016).
The company has no near-term principal obligations; the ABL
facility expires in May 2020 and the senior unsecured notes mature
in December 2022.

The stable outlook reflects expectations that stable operating
performance in KLXs' Aerospace Solutions Group (ASG) combined with
the company's strong liquidity profile provide ample cushion for
any further deterioration in the energy segment.

An upward rating action would be driven by leverage sustained below
4.0x, the continuance of a strong liquidity profile with free cash
flow to debt persistently in the high single-digit range.  A
sustained stabilization in the ESG segment would be a prerequisite
for any ratings upgrade.

The ratings could be downgraded if Debt-to-EBITDA is expected to be
persistently above 5.5x.  Increased usage under the ABL facility or
a weakening liquidity profile such that free cash flow to debt were
in the low single-digits could also result in a downgrade. Ratings
could also be downgraded if the company undertakes shareholder
friendly actions or if profit weakens in the core aerospace
segment.

KLX Inc. is a leading distributor of aerospace fasteners and other
consumables and a leading provider of logistic services to the
airline and aerospace industries.  KLX is also a provider of
technical, logistical and support services to the oil & gas
industry offering a broad range of technical solutions including
wireline services, fishing services, pressure control equipment and
onshore completion services.  Revenues for the fiscal year ended
Jan. 31, 2016 were $1.6 billion.

The principal methodology used in these ratings was Global
Aerospace and Defense Industry published in April 2014.



L. SCOTT APPAREL: Court Enters Default Judgment vs. Huize Trading
-----------------------------------------------------------------
Howard Grobstein as Liquidating Trustee of L. Scott Apparel Inc.
filed a complaint for avoidance and recovery of preferential
transfer and objection to claim against Huize Trading LTD.

At the initial status conference held on October 13, 2015, the
court continued the status conference to December 15, 2015, to
permit the parties to conclude settlement negotiations and for the
Plaintiff to serve the Defendant with the Complaint.

The Defendant filed its answer to the Plaintiff's Complaint with
the court, on behalf of itself in violation of Local Bankruptcy
Rule 9011-2(a), which requires the Defendant, as an entity, to
appear by counsel.  Additionally, the Defendant's filed Answer was
unsigned in violation of Rule 9011(a) of the Federal Rules of
Bankruptcy Procedure, which requires that every pleading "be signed
by at least one attorney of record in the attorney's individual
name" or "a party who is not represented by an attorney."

At the December 15, 2015 status conference, the Plaintiff appeared
through his counsel of record, Lori L. Wederitch. No appearance was
made by or on behalf of the Defendant. Noting that the Defendant,
as an entity, is not represented by counsel as required by Local
Bankruptcy Rule 9011-2(a), the court noted that the Defendant's
answer could be stricken. The court entered an order continuing the
status conference to February 16, 2016 and ordering the parties to
file a status report by February 2, 2016.

The parties failed to file the required joint status report by the
February 2, 2016 deadline in compliance with Local Bankruptcy Rule
7016-1(a)(2). However, Plaintiff filed a unilateral status report
by the February 2, 2016 deadline in compliance with Local
Bankruptcy Rule 7016-1(a)(3).

In an Order dated February 24, 2016, which is available at
http://is.gd/HMbUvafrom Leagle.com, Judge Robert Kwan of the
United States Bankruptcy Court for the Central District of
California, Los Angeles Division, has stricken the Defendant's
Answer and entered Default Judgment against the Defendant for its
failure to be represented by counsel in the adversary proceeding,
sign its Answer, appear at the December 15, 2015 and February 16,
2016 status conferences as required, and participate in the
drafting of the joint status report or file its own unilateral
status report for the February 16, 2016 status conference.

The adversary proceeding is HOWARD GROBSTEIN as Liquidating Trustee
of L. Scott Apparel Inc., Plaintiff, v. HUIZE TRADING LTD., a
foreign business entity of unknown form, Defendant, Adv. No.
2:15-ap-01434-RK (Bankr. C.D. Calif.).

The bankruptcy case is In re: L. SCOTT APPAREL, INC., Chapter 11,
Debtor, Case No. 2:13-bk-26021-RK (Bankr. C.D. Calif.).

Howard Grobstein, Liquidating Trustee, Liquidating Trustee of L.
Scott Apparel Inc., Plaintiff, is represented by Brian L Davidoff,
Esq. -- BDavidoff@greenbergglusker.com -- Greenberg Glusker, Lori L
Werderitch, Esq. – Lwerderitch@greenbergglusker.com -- Greenberg
Glusker.


LB STEEL: Committee Objects to Validity of Lender's Liens
---------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 case of LB Steel, LLC, objects to the validity,
enforceability, priority, and perfection of the lender MB Financial
Bank, N.A.'s liens.

The Committee identified seven categories of assets to which it
objects, namely: Fixtures, Commercial Tort Claims, Vehicles, Equity
or Membership Interests, Registered Trademarks, Liens of Other
Creditors and Real Estate.  

MB Financial refutes the Committee allegations that it holds a
valid, enforceable and perfected lien on the Debtor's Fixtures,
Registered Trademarks and Equity or Membership Interests on the
Debtor's membership interest in LB Steel Acquisitions V, LLC, by
filing the Financing Statement with the Delaware Secretary of
State.  However, MB Financial admits that it is not aware of any
commercial tort claims of the Debtor or its estate but it holds a
perfected lien on the contract claims of the Debtor against Walsh
Construction Company.

In addition, MB Financial says it does not hold a lien on any
vehicles owned by the Debtor for which a certificate of title has
been issued and further acknowledges that its lien may be junior to
lessors of equipment leases, but is unaware of any third party
asserting a prior lien on any personal property owned by the
Debtor.

Nonetheless, MB Financial avers that to the extent that the Sale
proceeds do not satisfy MB Financial's claim of approximately
$11,250,000 in full, MB Financial will seek payment of any balance
of its claim from other collateral aside from the Purchased Assets,
especially since MB Financial holds a valid, enforceable, perfected
lien on all of the Debtor’s cash, the Debtor’s interest in LB
Steel Acquisitions V, LLC and the Debtor’s claims against Walsh.


LB Steel, LLC is represented by:

     Daniel A. Zazove, Esq.
     David J. Gold, Esq.
     131 S. Dearborn Street, Suite 1700
     Chicago, Illinois 60603-5559
     Telephone: (312) 324-8400
     Facsimile: (312) 324-9400
     Email: docketchi@perkinscoie.com
            dgold@perkinscoie.com

The Official Committee of Unsecured Creditors is represented by:

     Robert J. Palmersheim, Esq.
     Anand C. Mathew, Esq.
     Scott B. Kitei, Esq.
     HONIGMANMILLER SCHWARTZ AND COHN LLP
     One South Wacker Drive, 28th Floor
     Chicago, IL 60606
     Telephone: (312) 701-9300
     Facsimile: (312) 701-9335
     Email: rpalmersheim@honigman.com
            amathew@honigman.com
            skitei@honigman.com

MB Financial Bank, N.A. is represented by:

     David A. Golin, Esq.
     ARNSTEIN & LEHR LLP
     120 S. Riverside Plaza, Suite 1200
     Chicago, Illinois 60606-3913
     Telephone: (312) 876-7100
     Email: dagolin@arnstein.com

        About LB Steel

LB Steel, LLC, provider of outsourced machining, fabrication,
burning, and assembly services, sought Chapter 11 bankruptcy
protection (Bankr. N.D. Ill. Case No. 15-35358) on Oct. 18, 2015.
Michael Goich signed the petition as president.  The Debtor
estimated assets in the range of $10 million to $50 million and
debts of more than $50 million.  The Debtor has engaged Perkins
Coie LLP as counsel.  Judge Janet S. Baer is assigned to the case.


LB STEEL: Has Court Authority to Sell Assets for $11.7-Mil.
-----------------------------------------------------------
Judge Janet S. Baer of the U.S. Bankruptcy Court for the Northern
District of Illinois, Eastern Division, authorized LB Steel, LLC,
to sell substantially all of its assets to LB Metals, LLC, for
$11,700,000.

The asset purchase agreement provides that the Purchaser will
assume and agrees to pay, discharge and perform in full when due
the Liabilities of the Seller, including all liabilities and
obligations incurred or to be incurred which estimated to be
$325,000 for finishing work which JM Industries is performing for a
confidential progress billing customer of the Seller -- a $375,000
Account Receivable is estimated to be generated when completed and
the product is delivered to the customer which Purchaser will be
entitled to as a Purchased Asset.

In addition, the Parties have agreed that the Seller will cause LB
Steel Acquisitions V, LLC, to enter into an agreement acceptable to
the Parties and pursuant to which the Purchaser is granted an
option to purchase for a payment of $150,000 all of the Seller's
limited liability company interests in Acquisitions and/or all of
Acquisitions' right, title or interest in and to the Warren
Facility.

Judge Baer overruled objection raised by Gerdes Family, LLC, which
complained that it lacked sufficient information about the winning
bidder at the Sale for the identity of which had not been
determined at the time of the filing of its objection, and that
thus Gerdes had not been provided with adequate assurance of
performance by the winning bidder.

LB Steel, LLC is represented by:

     Daniel A. Zazove, Esq.
     David J. Gold, Esq.
     131 S. Dearborn Street, Suite 1700
     Chicago, Illinois 60603-5559
     Telephone: (312) 324-8400
     Facsimile: (312) 324-9400
     Email: docketchi@perkinscoie.com
            dgold@perkinscoie.com

Gerdes Family, LLC is represented by:

     Joanne B. Stutz, Esq.
     EVANS & MULLINIX, P.A.
     7225 Renner Road, Suite 200
     Shawnee, KS 66217
     Telephone: (913) 962-8700
     Facsimile: (913) 962-8701
     Email: jstutz@emlawkc.com

     -- and --

     Joanne Lee, Esq.
     FOLEY & LARDNER LLP
     321 North Clark Street, Suite 2800
     Chicago, IL 60654-5313
     Telephone: (312) 832-4500
     Facsimile: (312) 832-4700
     Email: jlee@foley.com

          About LB Steel

LB Steel, LLC, provider of outsourced machining, fabrication,
burning, and assembly services, sought Chapter 11 bankruptcy
protection (Bankr. N.D. Ill. Case No. 15-35358) on Oct. 18, 2015.
Michael Goich signed the petition as president.  The Debtor
estimated assets in the range of $10 million to $50 million and
debts of more than $50 million.  The Debtor has engaged Perkins
Coie LLP as counsel.  Judge Janet S. Baer is assigned to the case.


LEHR CONSTRUCTION: Plan Confirmed, Unsecureds to Get at Least 3%
----------------------------------------------------------------
Jonathan L. Flaxer, the Chapter 11 trustee for Lehr Construction
Corp., received confirmation of his proposed liquidating plan for
the Debtor's estate.  The Chapter 11 Trustee's First Amended Plan
of Liquidation dated August 31, 2015, provides that a Plan
Administrator, on behalf of the Liquidating Debtor, will, inter
alia, distribute the available assets of the Liquidating Debtor in
accordance with the Plan.  Article X of the Plan provides for the
appointment of Jonathan L. Flaxer as Plan Administrator.  Holders
of general unsecured claims totaling $6 million to $7.5 million are
estimated to recover 3% to 10% of their claims.  Holders of
customer claims estimated at $7.2 million are slated to recover 10
to 15 cents on the dollar.  Equity holders are not expected to
recover anything.  A copy of Judge Sean H. Lane's order confirming
the Plan is available for free at:

   http://bankrupt.com/misc/Lehr_Const_1246_Plan_Conf_Ord.pdf

The Trustee sought and obtained approval to file under seal those
portions of the Plan Supplement that contain information that has
not been the subject of public proceedings.  A copy of the
Trustee's Amended Supplement to the Plan is available at:

   http://bankrupt.com/misc/Lehr_Const_1264_Plan_Supp.pdf

                     About Lehr Construction

New York-based Lehr Construction Corp. was founded in 1979.  It
specializes in interior construction and serves clients mainly
throughout the New York metropolitan area.  It serves as
construction manager and general contractor for its clients.

Lehr filed for Chapter 11 bankruptcy protection (Bankr. S.D.N.Y.
Case No. 11-10723) on Feb. 21, 2011.  The Debtor estimated its
assets and debts at $10 million to $50 million.  

The Debtor tapped James A. Beldner, Esq., at Cooley LLP, as
bankruptcy counsel.  Rust Consulting/Omni Claims Agent serves as
claims and noticing agent.

Jonathan Flaxer was appointed Chapter 11 Trustee for Lehr
Construction.  He is represented by Douglas L. Furth, Esq., at
Goldenbock Eiseman Assor Bell & Peskoe LLP, in New York.  Wolf
Haldenstein Adler Freeman & Hertz serves as conflicts counsel to
the trustee.  Marotta Gund Budd & Dzera, LLC, serves as trustee's
financial advisor.

Tracy Hope Davis, the U.S. Trustee for Region 2, appointed five
creditors to serve on the Official Committee of Unsecured Creditors
in the Debtor's case.  Fred Stevens at Klestadt & Winters, LLP
represents the Committee.


LINN ENERGY: Says Bankruptcy "Unavoidable"
------------------------------------------
Stephanie Gleason, writing for Dow Jones' Daily Bankruptcy Review,
reported that Linn Energy LLC warned on March 15 that a chapter 11
bankruptcy filing may be "unavoidable" for the oil and gas
producer.

According to the report, the company said it has hired financial
and legal advisers "to address our liquidity and capital structure,
including strategic and refinancing alternatives through a private
restructuring," but added that bankruptcy may be its only option.

The company, in a regulatory filing with the U.S. Securities and
Exchange Commission, said it is "currently in default under the
LINN Credit Facility and the Second Lien Indenture."

The company added, "We have engaged financial and legal advisors to
assist us in, among other things, analyzing various strategic
alternatives to address our liquidity and capital structure,
including strategic and refinancing alternatives through a private
restructuring. However, a filing under Chapter 11 of the U.S.
Bankruptcy Code may be unavoidable. Seeking Bankruptcy Court
protection could have a material adverse effect on our business,
financial condition, results of operations and liquidity. As long
as a Chapter 11 proceeding continues, our senior management would
be required to spend a significant amount of time and effort
dealing with the reorganization instead of focusing exclusively on
our business operations. Bankruptcy Court protection also might
make it more difficult to retain management and other key personnel
necessary to the success and growth of our business. Also during
the Chapter 11 proceedings, our ability to enter into new commodity
derivatives covering additional estimated future production would
be dependent upon either entering into unsecured hedges or
obtaining Bankruptcy Court approval to enter into secured hedges.
Furthermore, counterparties under our existing hedge transactions
may elect to terminate those transactions in connection with a
bankruptcy filing without our consent."

"We have a significant amount of indebtedness that is senior to our
units in our capital structure. As a result, we believe that
seeking Bankruptcy Court protection under a Chapter 11 proceeding
could cause our units to be canceled, result in a limited recovery
for unitholders, if any, and place current equity holders at
significant risk of losing all of their investment in us."

                     *     *     *

The Troubled Company Reporter, on Feb. 8, 2016, reported that
Standard & Poor's Ratings Services lowered its corporate credit
rating on Houston-based oil and gas exploration and production
(E&P) company Linn Energy LLC to 'CCC' from 'B+'.  S&P also lowered
its corporate credit rating on Berry Petroleum Co. LLC to 'CCC'
from 'B+'.  The outlook is negative.

S&P also lowered its issue-level rating on Linn Energy's
second-lien debt to 'CCC-' from 'B' and placed it on CreditWatch
with negative implications.  S&P also lowered the unsecured debt
rating to 'CC' from 'B-'.  The recovery ratings remain '5' and
'6',
respectively.  The recovery rating of '5' indicates S&P's
expectation of modest recovery (10% to 30%, higher half of range)
in the event of a payment default.  The '6' recovery rating
indicates S&P's expectation of negligible (0%-10%) recovery in the
event of a payment default.

At the same time, S&P lowered the issue-level rating on subsidiary
Berry Petroleum Co.'s senior unsecured notes to 'CCC-' from 'B'
and
placed them on CreditWatch with negative implications.  The
recovery rating remains '5', indicating S&P's expectation of
modest
recovery (10% to 30%, lower half of range) in the event of a
payment default.


LINN ENERGY: Skips $60M Interest Payment, Has Going Concern Doubt
-----------------------------------------------------------------
Houston, Texas-based LINN Energy, LLC (NASDAQ:LINE) and LinnCo, LLC
(NASDAQ:LNCO) on March 15 announced financial and operating results
for the fourth quarter and year ended December 31, 2015, and
outlook for 2016.

LINN Energy admits that based on current estimates and expectations
for commodity prices in 2016, it does not expect to remain in
compliance with all of the restrictive covenants contained in its
credit facilities throughout 2016 unless those requirements are
waived or amended.  As a result, indebtedness under the credit
facilities could, after the expiration of any grace period and at
the election of a majority of the lenders under the credit
facilities, be accelerated and become immediately due and payable.

The uncertainty associated with LINN's ability to meet its
obligations as they become due raises substantial doubt about the
Company's ability to continue as a going concern. The report of
LINN's independent registered public accounting firm that
accompanies its audited consolidated financial statements in LINN's
Annual Report on Form 10-K contains an explanatory paragraph
regarding the substantial doubt about the Company's ability to
continue as a going concern, the Company said.

As of December 31, 2015, LinnCo had income taxes payable of
approximately $30 million and cash of approximately $11 million.
Its only significant asset is its interest in LINN and its cash
flow, which was historically used to pay dividends to LinnCo
shareholders, is completely dependent upon the ability of LINN to
make distributions to its unitholders. In October 2015, LINN
suspended the payment of its distribution. The uncertainty
associated with LinnCo's ability to meet its obligations as they
become due raises substantial doubt about its ability to continue
as a going concern. The report of LinnCo's independent registered
public accounting firm that accompanies its audited financial
statements in LinnCo's Annual Report on Form 10-K contains an
explanatory paragraph regarding the substantial doubt about
LinnCo's ability to continue as a going concern.

In February 2016, the Company borrowed approximately $919 million
under LINN's Sixth Amended and Restated Credit Agreement, which
represented the remaining undrawn amount that was available under
the Credit Facility. The proceeds of the borrowed funds under the
Credit Facility were deposited in an unencumbered account with a
bank that is not a lender under either the credit facilities for
LINN or Berry Petroleum Company, LLC.  Total borrowings, including
outstanding letters of credit, under the Credit Facility are now
$3.6 billion. The credit facility for Berry remains nearly fully
utilized at approximately $900 million, including $250 million of
restricted cash posted as collateral. As of February 2016, there
was less than $1 million of available borrowing capacity under the
credit facilities.

The maturity date for the LINN and Berry credit facilities, along
with LINN's outstanding $500 million term loan, is April 2019. LINN
and Berry have unsecured senior note maturities ranging from 2019
through 2022.  In addition, LINN has senior secured second lien
notes with a maturity date of December 2020. The next borrowing
base redetermination is scheduled for April 2016. The LINN Credit
Facility, term loan and Second Lien Notes are each subject to
springing maturity, based on the maturity of any junior lien debt.

As of the date of delivery of the going concern audit opinion, LINN
is currently in default under the Credit Facility. If LINN is
unable to obtain a waiver or other suitable relief from the lenders
under the Credit Facility prior to the expiration of the 30-day
grace period, an event of default will result, and the lenders can
elect to accelerate all outstanding indebtedness under the Credit
Facility, which would be immediately due and payable. Acceleration
of the indebtedness under the Credit Facility could, under certain
circumstances, result in cross acceleration of the unsecured senior
notes and certain of Berry's indebtedness.

Additionally, the indenture governing the Second Lien Notes
required LINN to deliver certain mortgages by February 18, 2016,
subject to a 45-day grace period. LINN has elected to exercise its
45-day grace period and, as a result, LINN is currently in default
under the Second Lien Notes. If LINN does not deliver the mortgages
within the 45-day grace period or is otherwise unable to obtain a
waiver or other suitable relief from the holders of the Second Lien
Notes prior to the expiration of the grace period, an event of
default will result and if the trustee or noteholders holding at
least 25 percent in the aggregate outstanding principal amount of
the Second Lien Notes so elect would accelerate the Second Lien
Notes causing them to be immediately due and payable.

Further, the indentures governing certain of LINN's and Berry's
senior notes required the respective companies to make interest
payments on March 15, 2016, subject to a 30-day grace period. Each
company has elected to exercise its respective 30-day grace period,
and, as a result, both companies are currently in default under the
indentures governing such senior notes. If the respective companies
do not make the interest payments within the 30-day grace period or
are otherwise unable to obtain a waiver or other suitable relief
from the senior noteholders prior to the expiration of the grace
period, an event of default will result and the noteholders could
elect to accelerate such senior notes, causing them to be
immediately due and payable, which may result in certain other
cross defaults and cross accelerations.

LINN said its Board of Directors and management are in the process
of evaluating strategic alternatives to help strengthen its balance
sheet and maximize the value of the Company. As part of this
process, LINN has elected to exercise its 30-day grace period with
respect to interest payments due March 15, 2016 of approximately:

     $30 million on its 7.75% senior notes due February 2021,
     $12 million on its 6.50% senior notes due September 2021 and
     $18 million on the Berry Petroleum Company, LLC senior notes
                 due September 2022.
   -------------
     $60 million TOTAL

If LINN fails to make the interest payments within the 30-day grace
period and is otherwise unable to obtain a waiver or other suitable
relief from the holders under the indentures governing the senior
notes prior to the expiration of the 30-day grace period, the
default under the indentures will mature into an event of default,
allowing the noteholders to accelerate the outstanding indebtedness
under the senior notes.

LINN does not intend to make any future announcements concerning
this process unless and until the Company otherwise determines that
disclosures are necessary or appropriate.  The Company has retained
Lazard as its financial advisor and Kirkland & Ellis LLP as its
legal advisor to assist the Board of Directors and management team
with the strategic review process.

"We are continuing to work with our advisors to review a full range
of strategic alternatives to reduce the Company's overall debt,"
said Mark E. Ellis, Chairman, President and Chief Executive
Officer.  "In addition, we have been in discussions with certain
lenders in an effort to reach a mutually agreeable resolution and
remain focused on right sizing the balance sheet in order to
position the Company for long-term success."

The Company reported total revenues of approximately $647 million
for the fourth quarter 2015, which includes gains on oil and
natural gas derivatives of approximately $274 million; and
full-year 2015 total revenues of approximately $2.9 billion, which
includes gains on oil and natural gas derivatives of approximately
$1.1 billion; lease operating expenses of approximately $150
million, or $1.44 per Mcfe, for the fourth quarter 2015 and
approximately $618 million, or $1.42 per Mcfe for the full-year
2015.

The Company posted a net loss of approximately $2.5 billion, or
$7.05 per unit, for the fourth quarter 2015, which includes
non-cash impairment charges of approximately $3.0 billion, or $8.63
per unit, non-cash losses related to changes in fair value of
unsettled commodity derivatives of approximately $83 million, or
$0.24 per unit, and non-cash gains on extinguishment of debt of
approximately $506 million, or $1.44 per unit. For full-year 2015,
the Company reported a net loss of approximately $4.8 billion, or
$13.87 per unit, which includes non-cash impairment charges of
approximately $5.8 billion, or $16.93 per unit, non-cash losses
related to changes in fair value of unsettled commodity derivatives
of approximately $154 million, or $0.45 per unit, non-cash gains on
extinguishment of debt of approximately $719 million, or $2.09 per
unit, and gains on sale of assets and other of approximately $197
million, or $0.57 per unit.


LONG BEACH MEDICAL: May 4 Hearing on Allocation of Sale Proceeds
----------------------------------------------------------------
A bankruptcy court is set to hold an evidentiary hearing on May 4,
2016, on the proposed methodology for the allocation of the net
proceeds from the sale of Long Beach Medical Center.

LBMC and its official committee of unsecured creditors had asked
the U.S. Bankruptcy Court for the Eastern District of New York in
January to approve a methodology based upon an appraisal of the
hospital by Cushman & Wakefield of Connecticut Inc.  

Both proposed utilizing the appraisal to determine the percentage
of overall value of each property grouping.

LBMC is currently holding about $3.1 million in net proceeds from
the sale of its properties and those owned by Long Beach Memorial
Nursing Home Inc. in 2014.  The properties were sold to South
Nassau Communities Hospital, which made a $10.25 million cash
offer.

LBMC had earlier defended the proposed methodology against
criticism from First Central Savings Bank that the appraisal is
"fatally flawed" and the allocation is not fair.

The hospital owes First Central more than $2.6 million on account
of the loan it obtained from the bank prior to its bankruptcy
filing.

LBMC had drawn support from secured creditors The Dormitory
Authority of the State of New York and the Pension Benefit Guaranty
Corp.  Both believe Cushman conducted an objective appraisal of the
assets.

Meanwhile, South Nassau had said it should not be dragged into the
dispute over the allocation of the sale proceeds and that it should
not be forced to participate in any discovery sought by the bank.

                About Long Beach Medical Center

Long Beach Medical Center, formerly Long Beach Memorial Hospital,
was a 162-bed, community-based hospital offering primary, acute,
emergency and long-term health care to residents of Long Beach, New
York.  Founded in 1922, LBMC was a teaching facility for the New
York College of Osteopathic Medicine.  LBMC was shut down after
superstorm Sandy devastated the hospital in October 2012.

Long Beach Memorial Nursing Home Inc, runs the The Komanoff Center
for Geriatric and Rehabilitative Medicine, a 200-bed skilled
nursing facility affiliated with LBMC. It provides services for
residents requiring long term nursing home care and short term
post-acute (sub-acute) care.  Currently there are 127 residents of
Komanoff.

Long Beach Medical Center and Long Beach Memorial Nursing Home
d/b/a The Komanoff Center for Geriatric and Rehabilitative
Medicine, sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y.

Case Nos. 14-70593 and 14-70597) on Feb. 19, 2014.

Long Beach Medical Center scheduled $17,400,606 in total assets and
$84,512,298 in total liabilities.

Garfunkel Wild P.C. serves as the Debtors' counsel. GCG, Inc. is
the Debtors' claims and noticing agent.  The Hon. Alan S. Trust
presides over the cases.

The U.S. Trustee has appointed three members to the official
committee of unsecured creditors.  The panel retained Klestadt &
Winters, LLP, led by Sean C. Southard, Esq., as counsel.


MACCO PROPERTIES: Court Denies Bid to Dismiss "McGinnis"
--------------------------------------------------------
Before the Court are the Joint Motion for Dismissal with Prejudice
and Notice of Opportunity for Hearing filed jointly by Plaintiff
Michael E. Deeba, Trustee, and Defendant Lew S. McGinnis and, the
Objections of the United States Trustee, Cobblestone Apartments of
Tulsa, LLC, et al. and Jackie Hill.

In an Order dated February 25, 2016 which is available at
http://is.gd/gR7HRHfrom Leagle.com, Judge Dana L. Rasure of the
United States Bankruptcy Court for the Western District of Oklahoma
denied the Joint Motion for Dismissal with prejudice.

The Court concluded that the agreement to dismiss the adversary
proceeding is not fair, equitable, or in the best interests of the
estate. Dismissal of the Claims would benefit only McGinnis, and
would unfairly prejudice unsecured and administrative expense
claimants.

The case is IN RE: MACCO PROPERTIES, INC., Chapter 7, NV BROOKS
APARTMENTS, LLC, Chapter 7, Debtors. MICHAEL E. DEEBA, TRUSTEE,
Plaintiff, v. LEW S. McGINNIS, Defendant. COBBLESTONE APARTMENTS OF
TULSA, LLC; LARRY D. AND JEANETTE A. JAMISON FAMILY TRUST; AND
JACKIE L. HILL, JR., Intervenors, Case Nos. 10-16682-R, 10-16503-R,
Adv. No. 12-1137-R.

Michael E. Deeba, Plaintiff, is represented by Lysbeth L George,
Esq. -- lysbeth.george@crowedunlevy.com  --Crowe & Dunlevy, Judy
Hamilton Morse, Esq. – judy.morse@crowedunlevy.com -- Crowe &
Dunlevy, P.C..

Lew S. McGinnis, Defendant, is represented by Joyce W. Lindauer,
Esq. -- Joyce@joycelindauer.com

                 About Macco Properties

Oklahoma City, Oklahoma-based Macco Properties, Inc., is a
property management company that is the sole or controlling member
and/or manager of numerous multi-family residential rental units
in Oklahoma City, Oklahoma, Wichita, Kansas, and Dallas, Texas,
and several and commercial business properties in Oklahoma City,
Oklahoma, and Holbrook, Arizona.

Macco Properties filed for Chapter 11 bankruptcy protection
(Bankr. W.D. Okla. Case No. 10-16682) on Nov. 2, 2010.  The Debtor
disclosed $50,823,581 in total assets, and $4,323,034 in total
liabilities.

Affiliated entities also sought bankruptcy protection: NV Brooks
Apartments, LLC (10-16503); JU Villa Del Mar Apartments, LLC, and
(10-16842); and SEP Riverpark Plaza, LLC (10-16832).  SEP
Riverpark Plaza owns or controls The Riverpark Apartments, a
multi-family apartment complex located in Wichita, Kansas.

Receivership Services Corp., a division of the Martens Cos.,
serves as property manager for the six Wichita apartment complexes
caught up in the bankruptcy of Macco Properties of Oklahoma City.

On May 31, 2011, an Order was entered appointing Michael E. Deeba
as the Chapter 11 Trustee for Macco Properties.  He is represented
by Christopher T. Stein, of counsel to the firm of Bellingham &
Loyd, P.C.  Grubb & Ellis/Martens Commercial Group LLC acts as
the Chapter 11 Trustee's exclusive listing broker/realtor for
properties.

The Official Unsecured Creditors' Committee is represented by
Ruston C. Welch, Esq., at Welch Law Firm, P.C., in Oklahoma City.

In August 2013, the Bankruptcy Court signed off on an agreed order
dismissing the Chapter 11 cases of SEP Riverpark Plaza and JU
Villa Del Mar Apartments.


MACCO PROPERTIES: Court Recommends Denial of Transfer of "McGinnis"
-------------------------------------------------------------------
Lew S. McGinnis filed a Motion to Withdraw the Bankruptcy Reference
of the Case captioned MICHAEL E. DEEBA, TRUSTEE, Plaintiff, v. LEW
S. McGINNIS, Defendant. COBBLESTONE APARTMENTS OF TULSA, LLC; LARRY
D. AND JEANETTE A. JAMISON FAMILY TRUST; AND JACKIE L. HILL, JR.,
Intervenors, Adv. No. 12-1137-R (Bankr. W.D. Okla.), and to
Transfer it to the U.S. District Court for the Western District of
Oklahoma for Further Proceedings and a Jury Trial contending that
cause exists to withdraw the automatic reference of the proceeding
to the Court, arguing that the Court does not have statutory or
constitutional authority to enter a final order on Trustee's
claims; that McGinnis is entitled to trial of common law claims
before an Article III Court; and McGinnis is entitled to a jury
trial and does not consent to the bankruptcy court conducting a
jury trial.

In a Recommendation dated February 25, 2016, which is available at
http://is.gd/3qFmXTfrom Leagle.com, Judge Dana L. Rasure of the
United States Bankruptcy Court for the Western District of Oklahoma
recommended that the Defendant's Motion to Withdraw the Bankruptcy
Reference of the Case and to Transfer it to the U.S. District Court
for the Western District of Oklahoma for further proceedings and a
jury trial be denied.

The bankruptcy case is IN RE: MACCO PROPERTIES, INC., NV BROOKS
APARTMENTS, LLC, Chapter 7, Debtors, Case Nos. 10-16682-R,
10-16503-R (Jointly Administered)(Bankr. W.D. Okla.).

Michael E. Deeba, Plaintiff, is represented by Lysbeth L George,
Esq. -- lysbeth.george@crowedunlevy.com  --Crowe & Dunlevy, Judy
Hamilton Morse, Esq. – judy.morse@crowedunlevy.com -- Crowe &
Dunlevy, P.C..

Lew S. McGinnis, Defendant, is represented by Joyce W. Lindauer,
Esq. -- Joyce@joycelindauer.com

                 About Macco Properties

Oklahoma City, Oklahoma-based Macco Properties, Inc., is a
property management company that is the sole or controlling member
and/or manager of numerous multi-family residential rental units
in Oklahoma City, Oklahoma, Wichita, Kansas, and Dallas, Texas,
and several and commercial business properties in Oklahoma City,
Oklahoma, and Holbrook, Arizona.

Macco Properties filed for Chapter 11 bankruptcy protection
(Bankr. W.D. Okla. Case No. 10-16682) on Nov. 2, 2010.  The Debtor
disclosed $50,823,581 in total assets, and $4,323,034 in total
liabilities.

Affiliated entities also sought bankruptcy protection: NV Brooks
Apartments, LLC (10-16503); JU Villa Del Mar Apartments, LLC, and
(10-16842); and SEP Riverpark Plaza, LLC (10-16832).  SEP
Riverpark Plaza owns or controls The Riverpark Apartments, a
multi-family apartment complex located in Wichita, Kansas.

Receivership Services Corp., a division of the Martens Cos.,
serves as property manager for the six Wichita apartment complexes
caught up in the bankruptcy of Macco Properties of Oklahoma City.

On May 31, 2011, an Order was entered appointing Michael E. Deeba
as the Chapter 11 Trustee for Macco Properties.  He is represented
by Christopher T. Stein, of counsel to the firm of Bellingham &
Loyd, P.C.  Grubb & Ellis/Martens Commercial Group LLC acts as
the Chapter 11 Trustee's exclusive listing broker/realtor for
properties.

The Official Unsecured Creditors' Committee is represented by
Ruston C. Welch, Esq., at Welch Law Firm, P.C., in Oklahoma City.

In August 2013, the Bankruptcy Court signed off on an agreed order
dismissing the Chapter 11 cases of SEP Riverpark Plaza and JU
Villa Del Mar Apartments.


MADISON PAPER: 5th Mill to Shut Down in 2 Years
-----------------------------------------------
Dow Jones' Daily Bankruptcy Review, citing The Associated Press,
reported that Maine's Madison Paper Industries mill will close by
the end of May, representing the fifth mill to cease manufacturing
in little more than two years in the state.

According to the report, nearly all 214 employees in Madison will
lose their jobs, but a handful of maintenance workers will be
retained to maintain buildings and a hydro facility after June 1,
said Ruud van den Berg, vice president of UPM Paper's division for
North America and Europe.


MEDIASHIFT INC: Exclusive Plan Filing Period Extended to May 27
---------------------------------------------------------------
The Hon. Sandra R. Klein of the U.S. Bankruptcy Court for the
Central District of California has extended, at the behest of
MediaShift, Inc., and Ad-Vantage Networks, Inc., the exclusivity
period for the Debtors to file a plan of reorganization by 120
days, to and including May 27, 2016; and the exclusivity period for
the Debtors to obtain acceptance of a plan of reorganization is
extended by 120 days, to and including July 26, 2016.

As reported by the Troubled Company Reporter on March 1, 2016, the
Debtors sought the extension, asserting that the claims bar date
recently passed on Jan. 22, 2016, and that they need additional
time to analyze the extent of certain claims to be treated under
any plan.  The Debtors said that they still need to close the
recently approved sale at the Jan. 27, 2016 hearing and,
thereafter, evaluate the remaining assets in order to formulate
their respective disclosure statements and plans.

On Dec. 22, 2015, the Debtors filed a summary of amended schedules,
master mailing list, and statements, a copy of which is available
for free at:

     http://bankrupt.com/misc/MediaShiftInc_142_amendedSAL.pdf

                      About MediaShift, Inc.

MediaShift, Inc., is a digital advertising technology company.  The
company, through its subsidiaries offers operators of private
internet networks to monetize their audiences through distributed
ad technology platforms and across multiple devices.

MediaShift, Inc., and Ad-Vantage Networks, Inc., filed Chapter 11
bankruptcy petitions (Bankr. C.D. Cal. Lead Case No. 15-25024) on
Sept. 30, 2015.  Rick Baran, the president, signed the petitions.
The Debtors estimated both assets and liabilities of $10 million to
$50 million.

The Debtors have engaged Levene, Neale, Bender, Yoo & Brill L.L.P,
as counsel; Houlihan Lokey Capital, Inc. as financial advisor and
investment banker.

Judge Sandra R. Klein is assigned to the cases.

The Office of the U.S. Trustee appointed four creditors to the
official committee of unsecured creditors.  Danning, Gill, Diamond
& Kollitz, LLP, represents the committee.


METROPOLITAN AUTOMOTIVE: Court Approves Sale of Assets
------------------------------------------------------
Katy Stech, writing for Dow Jones' Daily Bankruptcy Review,
reported that a federal judge has given approval for California's
Metropolitan Automotive Warehouse Inc., which lost money after
expanding its online-auto-parts business, to be sold to a New York
competitor.

According to the report, with his signature, Judge Wayne Johnson
cleared Parts Authority Metro LLC of Queens Village, N.Y., which
calls itself one of the largest distributors of automotive and
truck parts on the East Coast, to take over Metropolitan Automotive
Warehouse's operations.

As previously reported by The Troubled Company Reporter, citing The
Wall Street Journal, Metropolitan Automotive officials told Judge
Johnson in court papers that several buyers are interested in
purchasing the Los Angeles-area company out of bankruptcy at an
auction.  The company, combined with affiliate Star Auto Parts
Inc., employs about 1,000 people, the Journal said.

Metropolitan Automotive Warehouse officials didn't say how much
buyers were offering to pay but proposed to reveal the value of
the
auction's opening bid by Feb. 12, the report related.  One offer
is
expected to come from New York-based Parts Authority Inc., which
called itself one of the largest distributors or automotive and
truck parts on the East Coast in a document filed in U.S.
Bankruptcy Court in Riverside, Calif., the report further related.

            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.


MF GLOBAL: Underwriters Settle with Investors for $29.8-Mil.
------------------------------------------------------------
Patrick Fitzgerald, writing for Dow Jones' Daily Bankruptcy Review,
reported that a group of well-known financial institutions have
reached a deal to settle a class-action lawsuit brought by former
MF Global Holdings Ltd. investors for $29.825 million.

According to the DBR report, in a March 11 filing with the U.S.
District Court in Manhattan, lawyers for the plaintiffs said the
settlement with financial institutions that served as underwriters
-- among them Jefferies LLC, BMO Capital Markets Corp., Natixis
Securities Americas LLC, Lebenthal & Co. and U.S. Bancorp
Investments Inc. -- for the sale of MF Global 's bonds before its
collapse "dismisses and releases" all claims against them in the
suit.

The investors, now led by the Virginia Retirement System, sued the
financial institutions as part of a larger 2011 suit against former
MF Global Chief Executive Jon S. Corzine and other company
executives, accusing the parties of not disclosing the risks
associated with MF Global's European sovereign debt trades using
repurchase-to-maturity transactions, the report related.

The proposed underwriter settlement follows an earlier $74.9
million deal with a separate group of underwriters, the report
further related.  Another $64.5 million settlement resolved
investors' claims against Mr. Corzine, ex-finance chief Henri
Steenkamp and several other former MF Global directors, the report
added.  In a fourth deal, accounting firm PricewaterhouseCoopers
agreed to pay $65 million to settle investors' claims, the report
said.  In all, the settlements will bring in more than $235 million
to the investors, the report added.

                       About MG Global

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

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

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

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

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

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

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

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

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

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

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

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

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


MOLYCORP INC: Plan Confirmation Hearing to Begin March 29
---------------------------------------------------------
The hearing to consider confirmation of Molycorp, Inc., et al.'s
Third Amended Joint Plan of Reorganization will begin on March 29,
2016, at 10:00 a.m., Eastern Time.

Objections to the confirmation of the Plan and approval of the
sale, if applicable, are due March 23.  Declaration of voting
results will be filed on or before March 28.  The Debtors have
until March 28 to reply to objections to confirmation.

The ad hoc group of holders of the 10% senior secured notes issued
by Molycorp, Inc., objects to the revised solicitation schedule and
the revised Plan, complaining that far from providing creditors
with the necessary and material information that would enable an
informed decision on the Revised Plan, the Supplemental Materials
actually raise more questions than answers.

According to the Ad Hoc Group, the only bid received by the Debtors
for Mountain Pass is the credit bid submitted by the Ad Hoc Group.
Notwithstanding this fact, the Ad Hoc Group have recently learned
that the Debtors refuse to quality its Permitted Credit Bid.  While
the Ad Hoc Group believes that the Debtors have zero basis to make
that determination, the simple fact is that the Revised Plan
provides no explanation of what the Debtors intend to do with
Mountain Pass, and there is no way for creditors to have any clue
as to what they should expect from Mountain Pass.

The Ad Hoc Group is represented by Laura Davis Jones, Esq., James
E. O'Neill, Esq., and Colin R. Robinson, Esq., at Pachulski Stang
Ziehl & Jones LLP, in Wilmington, Delaware; and Thomas Moers Mayer,
Esq., Gregory Horowitz, Esq., Joshua K. Brody, Esq., and Andrew M.
Dove, Esq., at Kramer Levin Naftalis & Frankel LLP, in New York.

                       About Molycorp, Inc.

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare    
earths and rare metals producer.  Molycorp owns several prominent
rare earth processing facilities around the world.  It has a
workforce of 2,530 employees at locations on three continents.
Molycorp's Mountain Pass Rare Earth Facility in San Bernadino
County, California, is home to one of the world's largest and
richest deposits of rare earths.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior management members are located at its U.S.
corporate headquarters in Greenwood Village, Colorado.

Molycorp reported a net loss of $623 million in 2014, a net loss
of $377 million in 2013 and a net loss of $475 million in 2012.

As of March 31, 2015, the Company had $2.49 billion in total
assets, $1.78 billion in total liabilities and $709 million in
total stockholders' equity.

Molycorp and its North American subsidiaries, together with
certain of its non-operating subsidiaries outside of North
America, filed Chapter 11 voluntary petitions in Delaware (Bankr.
D. Del. Lead Case No. 15-11357) on June 25, 2015, after reaching
agreement with a group of lenders on a financial restructuring.
The Chapter 11 cases of Molycorp and 20 affiliated debts are
pending before Judge Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from
the filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from
AlixPartners, LLP.  Jones Day and Young, Conaway, Stargatt &
Taylor LLP act as legal counsel to the Company in this process.
Prime Clerk serves as claims and noticing agent.

Secured creditor Oaktree Capital Management L.P., consented to the
use of cash collateral and to extend postpetition financing.

On July 8, 2015, the U.S. trustee overseeing the Chapter 11 case
of Molycorp Inc. appointed eight creditors of the company to serve
on the official committee of unsecured creditors.

                            *     *     *

Judge Christopher Sontchi in Delaware approved the disclosure
statement explaining the Debtors' Plan on Jan. 20, 2015, after the
Debtors revised the Disclosure Statement to incorporate certain
modifications directed by the Court during the Jan. 14 hearing.

The Plan contemplates two possible outcomes: (1) the sale of
substantially all of the Debtors' assets if certain conditions set
forth in the Plan are satisfied and (2) (a) the sale of the assets
associated with the Debtors' Mountain Pass mining facility in San
Bernardino County, California; and (b) the stand-alone
reorganization around the Debtors' other three business units.


NEWFIELD EXPLORATION: Egan-Jones Cuts Sr. Unsecured Rating to B+
----------------------------------------------------------------
Egan-Jones Ratings Company downgraded the senior unsecured rating
on debt issued by Newfield Exploration Co. to B+ from BB- on March
1, 2016.

Newfield Exploration Company is an independent crude oil and
natural gas exploration and production company.



NOAH E. ESTRADA: Court OKs Bid to Borrow $1-Mil.
------------------------------------------------
Debtor Noah E. Estrada filed an Emergency Motion for Authority to
Obtain Secured Credit seeking to borrow $1,095,196, secured by a
lien on his 2016 crops, crop insurance, and government payments.
The budget attached to the instant motion reflects amounts for
fertilizer, seed, fungicide, herbicide, insecticide, labor,
repairs, harvesting, and miscellaneous expenses.

In the instant case, the uncontroverted testimony shows that Debtor
has a need to borrow funds in order to plant crops for the 2016
growing season. He has sought, but has been unable to obtain,
unsecured credit.

In a Memorandum Opinion dated February 24, 2016, which is available
at http://is.gd/D8PqNjfrom Leagle.com,  Judge Letitia Z. Paul of
the United States Bankruptcy Court for the Southern District of
Texas, Galveston Division, granted the Debtor's Emergency Motion,
finding that the Debtor's crop plan and the proposed borrowing
secured by a lien, appear to represent the reasonable exercise of
the Debtor's business judgment.  The court concluded that Debtor
should be authorized to borrow funds on the terms set forth in the
instant motion.

The case is IN RE NOAH E. ESTRADA, Debtor, Case No. 16-80003-G3-11
(Bankr. S.D. Tex.).

Noah Eli Estrada, Debtor, is represented by David R Langston, Esq.
-- drl@mhba.com  -- Mullin Hoard et al.

US Trustee, US Trustee, represented by Ellen Maresh Hickman, Office
of the U S Trustee.


NORANDA ALUMINUM: Sherwin Asks Court to Dismiss NBL's Ch. 11 Case
-----------------------------------------------------------------
Sherwin Alumina Company, LLC, asks the U.S. Bankruptcy Court to
dismiss the Chapter 11 case of Noranda Bauxite Ltd. because NBL's
filing was borne of bad faith and was designed solely to avoid
litigation in a prior pending action before the Texas Bankruptcy
Court.

Alternatively, Sherwin asserts that the doctrines of forum non
conveniens and comity of nations provide cause to dismiss the case
because of the incontrovertible facts which establish that NBL has
no nexus to Missouri, and Missouri has no interest in NBL, in
general, or the fate of the bauxite Supply Agreement, in
particular.  On the other hand, Jamaica, which is NBL's place of
incorporation and principal place of business, is both available to
NBL and perfectly capable of providing NBL with an adequate forum
in which to restructure its business, Sherwin further asserts.

Sherwin tells the Court that NBL is a Jamaican company that
operates the St. Ann bauxite mine in Discovery Bay, Jamaica, and
has no facilities or offices in the United States.  Instead, NBL
relies upon two U.S. bank accounts and some cash retainers held by
its counsel to establish a basis for jurisdiction in the United
States, but NBL has refused to produce any discovery related to
these assets.

According to Sherwin, NBL and Sherwin are parties to a bauxite
supply agreement pursuant to which NBL supplies Sherwin with nearly
65% of its bauxite requirements and that Sherwin is NBL’s only
non-affiliate customer. Sherwin alleges that it filed a Chapter 11
petition in the Texas Bankruptcy Court and asked the Texas Court
for expedited relief to assume the Supply Agreement for which NBL
opposed Sherwin’s request and agreed to a scheduling order that
would allow the Texas Bankruptcy Court to adjudicate the Assumption
Motion.

Sherwin further asserts that instead of opposing the assumption in
Texas or make good on its threat to terminate the agreement due to
Sherwin’s bankruptcy filing, NBL called an end run, filing its
own Chapter 11 case before the Missouri Bankruptcy Court and moving
to reject the Supply Agreement unless Sherwin accepts an exorbitant
price increase for all bauxite delivered under the agreement.
Accordingly, Sherwin tells the Court that NBL’s blatant forum
shopping provides grounds to dismiss this case for cause pursuant
to section 1112(b) of the Bankruptcy Code.

Sherwin Alumina Company, LLC and Sherwin Pipeline, Inc. are
represented by:

     Joshua A. Sussberg, Esq.
     Joseph Serino, Jr., Esq.
     Shireen Barday, Esq.
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     601 Lexington Avenue
     New York, New York 10022
     Telephone: (212) 446-4800
     Facsimile: (212) 446-4900
     Email: joshua.sussberg@kirkland.com
            joseph.serino@kirkland.com
            shireen.barday@kirkland.com

     -- and --

     James H.M. Sprayregen, Esq.
     Gregory F. Pesce, Esq.
     KIRKLAND & ELLIS LLP
     KIRKLAND & ELLIS INTERNATIONAL LLP
     300 North LaSalle
     Chicago, Illinois 60654
     Telephone: (312) 862-2000
     Facsimile: (312) 862-2200
     Email: james.sprayregen@kirkland.com
            gregory.pesce@kirkland.com

     -- and --

     Cullen D. Speckhart, Esq.
     WOLCOTT RIVERS GATES
     200 Bendix Road, Suite 300
     Virginia Beach, VA 23452
     Email: cspeckhart@wolriv.com

     -- and --

     Morry S. Cole, Esq.
     GRAY, RITTER, GRAHAM, PC
     701 Market Street, Suite 800
     St. Louis, Missouri 63101
     Telephone: (314) 241-5620
     Facsimile: (314) 241-4141
     Email: mcole@grgpc.com

        About Noranda Aluminum

Noranda Aluminum, Inc., and 10 of its affiliates filed separate
Chapter 11 bankruptcy petitions (Bankr. E.D. Mo. Proposed Lead Case
No. 16-10083) on Feb. 8, 2016.  The petitions were signed by Dale
W. Boyles, the chief financial officer.  Judge Barry S. Schermer is
assigned to the cases.

The Debtors have engaged Paul, Weiss, Rifkind, Wharton & Garrison
LLP as counsel, Carmody MacDonald P.C. as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC as restructuring advisors and Prime Clerk LLC as claims,
solicitation and balloting agent.

The Debtors estimated both assets and liabilities in the range of
$1 billion to $10 billion.  As of the Petition Date, the Debtors
had approximately $529.6 million in outstanding principal amount of
secured indebtedness, consisting of a revolving credit facility and
a term loan facility.

The Debtors had approximately 1,857 employees as of the Petition
Date.


NORFE GROUP: Schedules $17.3M in Assets, $31.4M in Debt
-------------------------------------------------------
Norfe Group Corp. filed with the U.S., Bankruptcy Court for the
District of Puerto Rico amended schedules of assets and
liabilities, disclosing:

   Name of Schedule                   Assets       Liabilities
   ----------------                   ------       -----------
A. Real Property                 $14,500,000                       
   
B. Personal Property              $2,769,436           
C. Property Claimed as Exempt
D. Creditors Holding
   Secured Claims                                   $6,842,181
E. Creditors Holding Unsecured
   Priority Claims                                      $2,838
F. Creditors Holding Unsecured
   Non-priority Claims                             $24,596,571
                                 -----------       -----------
TOTAL                            $17,269,436       $31,441,591

The Debtor disclosed total assets of $14.9 million and debt of
$25.4 million in the previous iteration of the schedules.

A copy of the company's amended schedules is available without
charge at http://is.gd/9VcSDO

                        About Norfe Group

Norfe Group Corp. filed a Chapter 11 bankruptcy petition (Bankr.
D.P.R. Case No. 16-00285) in Old San Juan, Puerto Rico, on Jan.
20,
2016.  The petition was signed by David Efron, president.

The Debtor tapped Charles Alfred Cuprill, Esq., at Charles A
Cuprill, PSC Law Office, as counsel.


NORTHERN BLIZZARD: S&P Affirms 'B' CCR, Outlook Stable
------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' long-term
corporate credit rating on Calgary, Alta.-based Northern Blizzard
Resources Inc. (NBRI).  The outlook is stable.  At the same time,
Standard & Poor's raised its issue-level rating on the company's
US$276 million senior unsecured notes to 'B+' from 'B' and revised
its recovery rating on the debt to '2' from '3'.

"The revised recovery and higher issue-level ratings reflect our
view of the increased collateral available to lenders in our
simulated default scenario," said Standard & Poor's credit analyst
Michelle Dathorne.

The ratings on NBRI reflect Standard & Poor's view of the company's
vulnerable business risk and aggressive financial risk profile
assessments.  The ratings further reflect S&P's view of NBRI's
heavy oil focused product mix; its weak profitability compared with
those of its peers; and a financial policy that S&P views as
reflecting an aggressive financial risk profile.  S&P believes the
company's low-risk asset base and relatively low debt levels offset
these weaknesses somewhat.

NBRI is a small heavy oil-focused regional exploration and
production company.  It had about 79 million barrels of oil
equivalent (boe) of net proved reserves as of Dec. 31, 2015, and
about 20,900 boe per day production for 2015.  Almost all the
company's production is from the Lloydminster Heavy Oil and
Kerrobert Bakken area in southern Saskatchewan.

The stable outlook reflects S&P's view that NBRI should maintain a
financial risk profile that S&P views as appropriate for the 'B'
corporate credit rating while also maintaining a stable business
risk profile, despite S&P's expectation of production declines
during the 2016-2017 outlook period.  Specifically, S&P expects the
company's three-year, weighted-average funds from operations
(FFO)-to-debt ratio will remain in the 16%-20% range, largely
supported by existing hedges in place.

Assuming NBRI's business risk profile does not change, S&P could
lower the rating if the company's financial risk profile
deteriorates, such that its three-year, weighted-average
FFO-to-debt ratio fell below 12% and S&P expected the ratio to
remain at these lower levels on a consistent basis.  This could
occur if the company's production and cash flow generation
decreased faster than S&P's base-case scenario currently assumes.

Although S&P believes a positive rating action is unlikely during
the year-long outlook period, it could raise the rating if NBRI can
strengthen its business risk profile, through increased scale and
diversification, while maintaining its fully adjusted
weighted-average FFO-to-debt ratio above 12%.



OKLAHOMA: Bond Market Rescue for Budget Woes Entices Governor
-------------------------------------------------------------
Darrell Preston, writing for Bloomberg Brief, reported that
Oklahoma, grappling with the fallout from the collapse in oil
prices, may turn to the municipal-bond market to provide relief
from a $1.3 billion budget deficit rather than cutting spending or
raising taxes.

According to the report, borrowing would free money for other
priorities, such as pension costs and education, that would ease
the way of balancing the budget as options proposed by Governor
Mary Fallin aren't palatable to some lawmakers.  It would also fall
just short of a maneuver known as "scoop-and-toss" that involves
selling debt to pay off maturing securities, a practice employed by
issuers ranging from Puerto Rico to Chicago that has led to
disastrous results, the report said.

"The budget situation is very serious, it's a matter of deciding
priorities with limited resources," Tim Allen, deputy to Oklahoma
Treasurer Ken Miller, told Bloomberg.  "Borrowing is something the
treasurer supports looking at."


OUTER HARBOR: Has Final Authority to Obtain $9.5-Mil. DIP Loan
--------------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware gave Outer Harbor Terminal, LLC, final
authority to borrow from HHH Oakland, Inc., and Terminal Investment
Ltd., S.A., up to $9,500,000 in postpetition financing.

The Debtor is authorized to use the proceeds of the DIP Facility
consistent with the Approved Budget and the DIP Loan Documents to
fund the Debtor’s working capital needs, meeting its obligations
under the Settlement Agreement and for other general corporate
purposes, as provided in the Order.

To induce the Lenders to provide the DIP Facility, the Court
authorized the Debtor to grant the DIP Agent on its behalf and on
behalf of the Lenders the following, subject to the Carve-Out: (a)
perfected First-Priority Liens on the Collateral not encumbered,
and (b) Liens Junior to certain existing liens, which Liens will
secure all obligations incurred by the Debtor to the Agent and the
Lenders pursuant to the DIP Loan Documents and the Financing
Orders.  The Agent and each Lender is entitled to the full
protections of Section 364(c) of the Bankruptcy Code with respect
to debts, obligations, liens, security interests and other rights
created or authorized under the DIP Facility as provided in the
Final Order.

IAM & AW District Lodge No. 190 and East Bay Automotive Machinists
Local Lodge No. 1546 objected to the Debtors' DIP Financing Motion,
complaining that the budget fails to include payment for the
Chapter 11 administrative claims of the IAM.  The IAM alleged that
it is unable to determine whether sufficient cash will be available
for payment of the IAM's administrative claim considering the
increase in the DIP amount segregated for the benefit of the Port
of Oakland.  IAM asked that the Financing Motion be denied unless
there are provisions made for all potential Chapter 11
administrative claims, including the IAM.  Judge Silverstein
overruled IAM's objection.

A full-text copy of the Final DIP Order with Budget is available at
http://bankrupt.com/misc/OHTdipord0301.pdf

IAM & AW District Lodge No. 190 and East Bay Automotive Machinists
Local Lodge No. 1546 are represented by:

     Susan E. Kaufman, Esq.
     LAW OFFICE OF SUSAN E. KAUFMAN, LLC
     919 North Market Street, Suite 460
     Wilmington, DE 19801
     Telephone: (302) 472-7420
     Facsimile: (302) 792-7420
     Email: skaufman@skaufmanlaw.com

        About Outer Harbor

Oakland, California-based port operator Outer Harbor Terminal, LLC
filed for Chapter 11 protection (Bankr. D. Del. Case No. 16-10283)
on Feb. 1, 2016.

The Hon. Laurie Selber Silverstein presides over the case. Milbank,
Tweed, Hadley & Mccloy LLP is the Debtor's general counsel.  Mark
D. Collins, Esq., at Richards, Layton & Finger, P.A., serves as its
Delaware counsel.

The Debtor estimated assets and debts at $100 million to $500
million.  The petition was signed by Heather Stack, chief financial
officer.


OUTER HARBOR: To Pay $141K Monthly to Terex as Adequate Protection
------------------------------------------------------------------
Judge Laurie Selver Silverstein of the U.S. Bankruptcy Court for
the District of Delaware approved a stipulation between Outer
Harbor Terminal, LLC, and Terex Corporation and Terex Financial
Services, Inc.

The Parties agreed that the Debtor will provide an adequate
protection of any diminution in value of the Terex's secured
interest in the Debtor's Personal Property by paying TFS the normal
contractual payment of $141,168 per month in immediately available
funds.  The Parties further stipulate that the Adequate Protection
Payments will be included in any and all DIP financing budgets that
the Debtor will file with the Court.  Likewise, the Debtor is
required to provide adequate protection of TFS's secured interest
in the Personal Property by maintaining the insurance and paying
the personal property taxes.

With the approval of the Stipulation, Terex is deemed to have
withdrawn, with prejudice, its objection to the Debtor's DIP
Motion.

        About Outer Harbor

Oakland, California-based port operator Outer Harbor Terminal, LLC
filed for Chapter 11 protection (Bankr. D. Del. Case No. 16-10283)
on Feb. 1, 2016.

The Hon. Laurie Selber Silverstein presides over the case. Milbank,
Tweed, Hadley & Mccloy LLP is the Debtor's general counsel.  Mark
D. Collins, Esq., at Richards, Layton & Finger, P.A., serves as its
Delaware counsel.

The Debtor estimated assets and debts at $100 million to $500
million.  The petition was signed by Heather Stack, chief financial
officer.


PARAGON OFFSHORE: Court Approves Joint Administration of Cases
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware directed the
joint administration of the Chapter 11 cases of Paragon Offshore
Drilling LLC, et al., for procedural  purposes only.

Cases will be administered under Paragon Offshore PLC, Case No.
16-10386.

As reported by the Troubled Company Reporter on Feb. 16, 2016, the
Debtors anticipated that there are more than 10,000 creditors and
other parties-in-interest that are involved in their cases.  They
maintained that joint administration will allow for the efficient
and convenient administration of their interrelated Chapter 11
cases.

"Joint administration of these cases will save the Debtors and
their estates substantial time and expense because it will remove
the need to prepare, replicate, file, and serve duplicative
notices, applications, and orders," said Mark D. Collins, Esq., at
Richards, Layton & Finger, P.A., counsel for the Debtors.
"Further, joint administration will relieve the Court of entering
duplicative orders and maintaining duplicative files and dockets,"
he added.

                      About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a  
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the
over-the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-10410) on Feb.
14, 2016, after reaching a deal with lenders on a reorganization
plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total debts
of $2.96 billion as of Sept. 30, 2015.  

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.


PARAGON OFFSHORE: Has Final Approval to Use Cash Collateral
-----------------------------------------------------------
U.S. Bankruptcy Judge Christopher Sontchi on March 8, 2016, entered
a final order authorizing Paragon Offshore plc and its affiliated
debtors to use cash collateral of JPMorgan Chase Bank, N.A. and
Cortland Capital Market Services LLC through Oct. 1, 2016 or
earlier upon the occurrence of a termination event.

JPMorgan serves as the administrative agent for the revolver
lenders and collateral agent for the revolver lenders and term loan
lenders.  Cortland Capital Market Services L.L.C. acts as the
proposed successor administrative agent for the term loan lenders.
The Debtors stipulated that as of the Petition Date they are
indebted to the revolver lenders in the aggregate principal of not
less than $708,500,000 under the revolver facility and not less
than $87,161,528 in face amount of undrawn letters of credit.  The
Debtors also stipulated that as of the Petition Date, they were
indebted to the term loan lenders in the aggregate amount of not
less than $651,875,000.  

Parties in interest will have 75 days from the Petition Date to
challenge the validity and priority of the Debtors' prepetition
obligations or the liens on the collateral.

To protect the prepetition secured parties to the extent of any
aggregate diminution in value of the Prepetition Collateral
resulting from the use of Cash Collateral, the Debtors will provide
various forms of adequate protection, including a first priority
lien on, and security interest in "Unencumbered Property," which
includes approximately $332 million in a Goldman Sachs Bank Account
owned by Paragon Offshore Group plc.

The Debtors are authorized to pay the Revolver Agent and the Term
Loan Agent on the last day of each calendar month all accrued and
unpaid pre- or post-petition interest, fees and costs due and
payable under the Revolver Facility and the Term Loan Facility.

A copy of the Final Cash Collateral Order is available for free
at:

   http://bankrupt.com/misc/Paragon_O_140_Final_Cash_Ord.pdf

                      About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/--  is a  
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares  have been trading on the
over-the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-10410) on Feb.
14, 2016, after reaching a deal with lenders on a reorganization
plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total debts
of $2.96 billion as of Sept. 30, 2015.  

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.


PAUL GREMILLION: Can Hire Anderson Firm as Counsel
--------------------------------------------------
Debtor Paul Gremillion, Sr., filed an Application for an Interim
Order Authorizing Employment of John C. Anderson and the Anderson
Firm, LLC, as counsel.  HealthEdge Investment Fund, L.P.,
Concentric Equity Partners II, L.P., and He-Iom Affiliates, LLC, a
creditor of the estate filed an Objection based on an alleged
conflict of interest and dishonesty, fraud, deceit or
misrepresentations contained in the Debtor's Schedules and
Statement of Financial Affairs.

On September 18, 2015, the Debtor executed a collateral mortgage
encumbering his home in favor of Jamie Graham.  Jamie Graham is
employed as a paralegal with the Anderson Firm, LLC.  Based upon
the existence of this collateral mortgage, HealthEdge alleges that
a conflict of interest exists between Debtor and the Anderson firm.


In a Reasons for Decision dated February 25, 2016, which is
available at http://is.gd/gKILIOfrom Leagle.com, Judge Elizabeth
W. Magner of the United States Bankruptcy Court for the Eastern
District of Louisiana granted the Debtor's Application and
authorized the Debtor to employ John C. Anderson and the Anderson
Firm, LLC, as counsel.

According to Judge Magner, following the bankruptcy filing,
Anderson cancelled the inscription.  Thus, no conflict ever existed
and HealthEdge's objection is not valid.

The case is IN RE: PAUL GREMILLION, SR., Chapter 11, Debtor. PAUL
GREMILLION, SR. Plaintiff, v. HEALTHEDGE INVESTMENT FUND, L.P.,
CONCENTRIC EQUITY PARTNERS II, L.P. HE-IOM AFFILIATES, LLC
Defendants, Case No. 15-13063, Section A, Adversary No. 15-1080.

Paul Gremillion, Sr., Debtor, is represented by John C. Anderson,
Esq. -- Anderson & Daniels, LLC.

Office of the U.S. Trustee, U.S. Trustee, represented by Amanda
Burnette George, Office of the U.S. Trustee.


PEABODY ENERGY: Bonds, Shares Soar to Highest Levels in Weeks
-------------------------------------------------------------
Jodi Xu Klein, writing for Bloomberg Brief, reported on March 14
that troubled Peabody Energy Corp.'s shares doubled in value last
week and its bonds rose to highs not seen since last month.

According to the report, the moves come after it emerged that
Franklin Resources Inc. was pushing the largest coal miner in the
U.S. to restructure its $6.4 billion of debt in court, people told
Bloomberg last week.  The company had previously said in a filing
that one of its lenders was urging a reorganization, the report
noted.

The company's $650 million of 6.5 percent senior unsecured notes
maturing in September 2020 rose 2 cents to trade at 6.2 cents on
the dollar at 10:08 a.m. in New York on March 11, the highest since
Feb. 5, Bloomberg said, citing Trace, the bond-price reporting
system of the Financial Industry Regulatory Authority.

In addition, its $1 billion of 10 percent notes due 2022 jumped to
the highest level in the past month on March 11, trading at 8.375
cents on the dollar at 11:55 am, the report further cited Trace.

Peabody shares also roughly doubled last week, rising to $6.82 at
1:02 p.m. on March 11, up from $2.44 on March 2 when it was
revealed that Franklin pushing for a debt reorganization, the
report noted.  The company's shares closed at $6.55 on March 11,
the report added.

                      About Peabody Energy

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.   The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount
Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.
(listed alphabetically).

The Company reported a net loss attributable to common
stockholders
of $787 million in 2014, a net loss attributable to common
stockholders of $524.9 million in 2013 and a net loss attributable
to common stockholders of $585.7 million in 2012.

                        *     *     *
                
As reported by the Troubled Company Reporter on Jan. 20, 2016,
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on St. Louis-based Peabody Energy Corp. to 'CCC+'
from 'B'.


PETROLEUM PRODUCTS: U.S. Trustee Forms 5-Member Committee
---------------------------------------------------------
The Office of the U.S. Trustee appointed five creditors of
Petroleum Products & Services Inc. to serve on the official
committee of unsecured creditors.

The committee members are:

     (1) Sanders Machine Inc.
         Attn: Ricky or Diane Sanders
         200 Corporate Drive
         Sibley, LA 71073
         (phone) 318-371-1040
         (fax) 318-371-1046
         diana@sandersmachine.com

     (2) Rushing Machine Shop
         Attn: Brian Johnson
         1106 Cherokee Trace
         White Oak, TX 75693
         (phone) 903-759-6000
         (fax) 903-759-3838
         rms@etex.net

     (3) eShipping
         Attn: Kristyn Miller
         10812 NW Hwy 45
         Parkville, MO 64152
         (phone) 816-994-5186
         kmiller@eshipping.biz

     (4) Praavrit Engineering Technologies
         Attn: Gerard Bonneau
         SF NO 300/1A
         Methai Thottam Vivekanadha St
         Nanje Gounden Pudur GN, GN Mills (PO)
         CRE Coimbatore 641029, India
         (phone) +33 642040916
         Gonneag@Yahoo.FR

     (5) Cepai Group Co., Ltd.
         Attn: Linda Kong
         No. 333, Jianshe Road (West)
         Jinhu Econom, Huaian City
         Jiangsu Province 223001, China
         (phone) 0086-21-51575253
         (fax) 0086-21-51535520
         linda@cepai.com

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

                     About 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.


PETTERS COMPANY: Stay of Substantive Consolidation Order Sought
---------------------------------------------------------------
Opportunity Finance, LLC and related entities at a hearing on March
22, 2016, at 1:30 p.m. will ask the United States Bankruptcy Court
for the District of Minnesota to enter an Order staying the effect
of the Order Granting Trustee's Motion for Substantive
Consolidation signed Nov. 22, 2013 (the "SubCon Order"), based on
the ongoing appeal of the SubCon Order.  Responses to the Motion
are due March 17.

The Court, on Nov. 22, 2013, entered an Order substantively
consolidating the chapter 11 estates of Petters Company, Inc.
("PCI") with the estates of various Petters-related special-purpose
entities (the "PCI Estates").   Opportunity Finance, along with
other objectors to the Trustee's substantive consolidation motion,
appealed the SubCon Order, first to the District Court, see
Opportunity Finance, LLC, et al. v. Douglas A. Kelley, et al., No.
0:13-cv-03614-PJS (D. Minn.)3, which in April 2015 held that
Opportunity Finance lacked standing to appeal, and then to the U.S.
Court of Appeals for the Eighth Circuit, see Opportunity Finance,
LLC, et al. v. Douglas A. Kelley, et al., No. 15-2060 (8th Cir.).

Opportunity Finance's appeal is currently pending before the Eighth
Circuit, and a decision likely is near.  The parties noticed the
appeal on May 13, 2015, completed the briefing on Sept. 22, 2015,
and participated in oral argument on Nov. 19, 2015. See No.
0:13-cv-03614, Doc. 41 (D. Minn. May 13, 2015); Docket, No. 15-2060
(8th Cir.).  For the twelve-month period ending June 30, 2015, the
median time in the Eighth Circuit from notice of appeal to
disposition was 6.0 months.  Moreover, the Eighth Circuit's
Internal Operating Procedures state that the court "strives to
issue the opinion within 90 days after oral argument."  Considering
that nearly 10 months have passed since the Notice of Appeal was
filed, and that argument was held more than 90 days ago, the Eighth
Circuit's recent record and guidelines suggest that a decision
likely will be issued very soon.

Until this point, Opportunity Finance has had no reason to seek to
stay the SubCon Order pending the appeal.  First, because the
Adversary Proceeding against Opportunity Finance has not progressed
past the Rule 12 motion stage, the Court already has stayed
discovery or further progress of the case until that motion is
fully decided.  The motion to dismiss is still pending, in no small
part because of the Minnesota Supreme Court's intervening decision
in Finn v. Alliance Bank et al., 860 N.W.2d 638 (Minn. 2015), which
required extensive re-briefing and argument from the parties.
Thus, although the Court ordered substantive consolidation in late
2013, there have been no proceedings yet against Opportunity
Finance that required a stay.

Second, the Court still has pending before it, and has not yet
decided, the effect of the SubCon Order on Opportunity Finance
should its motion to dismiss not be granted.  In late 2014, at the
Trustee's suggestion, the parties briefed their respective views on
the impact of the SubCon Order on the Trustee's standing to proceed
against Opportunity Finance.  The Court heard argument in November
2014, and the matter remains under advisement. Thus, with no ruling
as to the effect of the SubCon Order, seeking a stay of that order
would have been premature.  Accordingly, in light of the pace and
procedural posture of the case, Opportunity Finance has had no
reason to seek to stay the SubCon Order.

That has changed, however, as a result of events that have occurred
only very recently.

On Jan. 15, 2016, the Trustee filed his proposed Chapter 11 Plan of
Liquidation and Disclosure Statement.   In those filings, the
Trustee disclosed that he would be attempting to use the Plan to
substantively consolidate the purportedly already-consolidated PCI
Estates with the estates of Petters Group Worldwide, LLC and
Petters Capital, LLC.  As disclosed, the Plan assumes that the PCI
Estates are already substantively consolidated into one entity,
thereby treating the SubCon Order as if it were finally resolved,
despite the pending Eighth Circuit appeal and any potential further
judicial review.  Disclosure of the Plan raised the possibility
that the Plan -- if confirmed in the form the Trustee has Proposed
-- could (at least in the Trustee's view) equitably moot
Opportunity Finance's pending appeal of the SubCon Order, thereby
harming Opportunity Finance's defense of the pending PCI adversary
proceeding and depriving it of the possibility of any appellate
review.

Recognizing these possible adverse consequences, Opportunity
Finance asked the Trustee to make clear that the Plan would not, in
fact, be used to attempt to moot Opportunity Finance's pending
appeal.  The Trustee refused to provide any such assurances or to
modify the Plan as requested, leaving Opportunity Finance no choice
but to file a limited objection to the Disclosure Statement.  In
response, the Trustee all but confirmed that he intends to claim
that confirmation and substantial consummation of the Plan would
moot the pending appeal of the SubCon Order.  While the Trustee
claimed that the "Disclosure Statement takes no position on whether
confirmation and substantial consummation of the Plan will
equitably moot the appeal of the substantive consolidation order,"
he also emphasized that "this Court's [substantive consolidation]
order is not stayed" and that "no appellant even sought a stay
pending appeal."  It comes as no surprise, therefore, that the
Amended Chapter 11 Plan of Liquidation and Amended Disclosure
Statement, both filed on Feb. 22, 2016, although removing
provisions that sought to substantively consolidate Petters
Capital, do not change the Trustee's intended course with regard to
the PCI Estates and PGW, or include any safeguards to protect
Opportunity Finance's ability to pursue the ongoing appellate
review of the SubCon Order.

In light of the Trustee's stated intent -- to attempt to use the
Plan confirmation process to moot appellate review of the SubCon
Order and to lock in the substantial adverse effects on Opportunity
Finance (and the other Appellants) of that order, Opportunity
Finance is compelled to seek to stay the SubCon Order pending the
ongoing appellate review process.

Given the procedural posture of the Adversary Proceeding against
Opportunity Finance, Opportunity Finance does not believe that it
is required to seek a stay, but because of the position the Trustee
has taken on the issue, it is doing so in order to leave no doubt
that it opposes the Trustee's effort to moot the appeal. In
addition, on or before April 5, 2016, Opportunity Finance intends
to file an objection to confirmation of the Amended Plan, asking
the Court to deny confirmation of the Amended Plan or, in the
alternative, to include in its confirmation order language making
it clear that confirmation will not moot or affect in any way the
pending appeal of the SubCon Order.  If the Court were to grant
either request, then no stay of the SubCon Order would be
necessary.

Counsel to Opportunity Finance, LLC, et al.:

         WILLIAMS & CONNOLLY LLP
         Joseph G. Petrosinelli
         Jonathan M. Landy
         Christopher J. Mandernach
         725 Twelfth Street, N.W.
         Washington, D.C. 20005
         Telephone: (202) 434-5000
         Facsimile: (202) 434-5029
         E-mail: jpetrosinelli@wc.com

              - and -

         BRIGGS AND MORGAN, P.A.
         John R. McDonald
         Kari S. Berman
         Benjamin E. Gurstelle
         2200 IDS Center
         80 South 8th Street
         Minneapolis, MN 55402
         Telephone: 612-977-8746
         Facsimile: 612-977-8650
         E-mail: jmcdonald@briggs.com

                     About Petters Company

Based in Minnetonka, Minn., Petters Group Worldwide LLC is a
collection of some 20 companies, most of which make and market
consumer products.  It also works with existing brands through
licensing agreements to further extend those brands into new
product lines and markets.  Holdings include Fingerhut (consumer
products via its catalog and Web site), SoniqCast (maker of
portable, WiFi MP3 devices), leading instant film and camera
company Polaroid (purchased for $426 million in 2005), Sun Country
Airlines (acquired in 2006), and Enable Holdings (online
marketplace and auction for consumers and manufacturers' overstock
inventory).  Founder and chairman Tom Petters formed the company in
1988.

Petters Company, Inc. is the financing and capital-raising unit of
Petters Group Worldwide.

Thomas Petters, the founder and former CEO of Petters Group, has
been indicted and a criminal proceeding against him is proceeding
in the U.S. District Court for the District of Minnesota.

Petters Company, Petters Group Worldwide and eight other affiliates
filed separate petitions for Chapter 11 protection (Bankr. D. Minn.
Lead Case No. 08-45257) on Oct. 11, 2008.  In its petition, Petters
Company estimated its debts at $500 million and $1 billion.  Parent
Petters Group Worldwide estimated its debts at not more than
$50,000.

Petters Aviation, LLC, and affiliates MN Airlines, LLC, doing
business as Sun Country Airlines, Inc., and MN Airline Holdings,
Inc. filed separate petitions for Chapter 11 bankruptcy protection
(Bankr. D. Minn. Case Nos. 08-45136, 08-35197 and 08-35198) on
Oct.
6, 2008.  Petters Aviation is a wholly owned unit of Thomas
Petters
Inc. and owner of MN Airline Holdings, Sun Country's parent
company.

The Official Committee of Unsecured Creditors is represented by
David E. Runck, Esq., Lorie A. Klein, Esq., at Fafinski Mark &
Johnson, P.A.

Trustee Douglas A. Kelley is represented by James A. Lodoen, Esq.,
Mark D. Larsen, Esq., Kirstin D. Kanski, Esq., Adam C. Ballinger,
Esq., at Lindquist & Vennum LLP.


PTAK PROPERTIES: Involuntary Chapter 11 Case Summary
----------------------------------------------------
Alleged Debtor: Ptak Properties, LLC
                9431 E. Ironwood Square Drive
                Scottsdale, AZ 85258

Case Number: 16-02501

Nature of Business: Single Asset Real Estate

Involuntary Chapter 11 Petition Date: March 14, 2016

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

Petitioners' Counsel: Jerry L. Cochran, Esq.
                      COCHRAN LAW FIRM, PC
                      2929 E. Camelback Rd., Suite 118
                      Phoenix, AZ 85016
                      Tel: 602-952-5300
                      Fax: 602-952-7010
                      E-mail: jcochran@cochranlawfirmpc.com

   Petitioners                  Nature of Claim  Claim Amount
   -----------                  ---------------  ------------
Jeffrey J. Ptak, MD, PC,             Loans          $77,677
9431 E. Ironwood Square Drive
Scottsdale, AZ 85258

Cochran Law Firm PC               Legal Fees         $6,403
2929 E. Camelback Road
Suite 118
Phoenix, AZ 85016


QUANTUM FUEL: Hires Advisers Following Debt Default
---------------------------------------------------
Lillian Rizzo, writing for Dow Jones' Daily Bankruptcy Review,
reported that natural gas fuel storage company Quantum Fuel Systems
Technologies Worldwide Inc . has hired financial advisers to assess
its options and negotiate with its creditors following a debt
default.

According to the report, the company said on March 15 that it has
defaulted on both its $7.5 million credit facility with Bridge Bank
NA and on roughly $12.5 million in second-lien bonds.

The company, in a regulatory filing with the U.S. Securities and
Exchange Commission, said on March 14, 2016, it failed to make the
required payment under the Loan and Security Agreement with Bridge
Bank, National Association, dated May 7, 2012, as amended, under
which the Lender provided the Company with a $7.5 million line of
credit.  The Loan and Security Agreement matured on March 14, 2016,
at which time the Company was required to repay all outstanding
advances.  On the Maturity Date, the total amount of outstanding
advances under the Loan and Security Agreement was approximately
$2.7 million.

Pursuant to the terms of the Loan and Security Agreement, the
Company's failure to make the required payment on the Maturity Date
constituted an event of default.

The event of default under the Loan and Security Agreement also
constituted an event of default under the senior secured
convertible notes issued by the Company on September 15, 2013, and
June 29, 2015, which have an aggregate principal balance of $12.5
million.  The Convertible Notes are secured by a second lien on
substantially all of the Company's operating assets pursuant to the
terms of separate Security Agreements between the Company and Kevin
Douglas, as collateral agent, for the holders of the convertible
notes.  The Convertible Notes are subordinate in all respects to
the rights of the Lender pursuant to the terms of separate
Subordination Agreements between the Lender and the Collateral
Agent.

The Company has engaged Mackinac Partners LLC as its financial
advisor to assist the Company with negotiating with its creditors,
and evaluating all options that may be available to the Company.
The company said there can be no assurance that the Company's
efforts will be successful or that the Company will not have to
seek protection under federal bankruptcy laws.

                         About Quantum Fuel

Lake Forest, Cal.-based Quantum Fuel Systems Technologies
Worldwide, Inc. (Nasdaq: QTWW) develops and produces advanced
vehicle propulsion systems, fuel storage technologies, and
alternative fuel vehicles.  Quantum's portfolio of technologies
includes electronic and software controls, hybrid electric drive
systems, natural gas and hydrogen storage and metering systems and
other alternative fuel technologies and solutions that enable fuel
efficient, low emission, natural gas, hybrid, plug-in hybrid
electric and fuel cell vehicles.

Quantum Fuel reported a net loss of $14.9 million in 2014, a net
loss attributable to stockholders of $23.0 million in 2013, a net
loss attributable to stockholders of $30.9 million in 2012 and a
net loss attributable to common stockholders of $38.5 million in
2011.

As of Sept. 30, 2015, the Company had $67.5 million in total
assets, $45.5 million in total liabilities and $22.0 million in
total stockholders' equity.


RADIAN GROUP: S&P Raises ICR to 'BB-', Outlook Positive
-------------------------------------------------------
Standard & Poor's Ratings Services said that it raised its
financial strength and long-term issuer credit ratings on Radian
Guaranty Inc. and Radian Mortgage Insurance Inc. to 'BBB-' from
'BB+', and raised its long-term issuer credit rating on Radian
Group Inc. to 'BB-' from 'B+'.  At the same time, S&P assigned its
'BB-' issue rating to the approximately $325 million senior notes
issued by Radian Group Inc.  The outlook is positive.

"The rating action on Radian Group and its subsidiaries is driven
by our improved view of the company's financial flexibility," said
Standard & Poor's credit analyst Hardeep Manku.  S&P views the
company as having sufficient access to the capital markets to
enable it to address concentration in its debt-maturity profile and
implement its capital-management plan.  S&P's updated view of
adequate financial flexibility is also supported by the improving
trend in financial leverage during the next few years, helped by
strong earnings and capital build-up.

The ratings on the senior notes reflect those on Radian Group Inc.
The company intends to use the net proceeds from this offer
together with shares of its common stock to purchase some of its
outstanding 2019 convertible notes and otherwise for working
capital and other general corporate purposes, which may include
repurchasing its common stock and redeeming or repurchasing other
outstanding 2019 convertible notes and 2017 convertible notes.
Prior to this debt issuance, the company repurchased 9.4 million
shares to help facilitate its capital-management plan to
redeem/repurchase 2019 convertible notes.  With the issuance, the
leverage will increase until company utilizes the proceeds to
retire targeted maturities.  However, based on market timing and
conditions, there is some execution risk, especially with 2019
convertibles, in which case the leverage can remain somewhat
elevated.  S&P expects the financial leverage to be around 32% for
2016 and fixed-charge coverage to be around 6x.

The positive outlook reflects potential for continued improvement
in Radian's relative financial risk profile, aided by further
decline in leverage and reduced reliance on double leverage
improving the quality of capital.  S&P expects upper-adequate
capitalization over the near-term.  S&P expects Radian to maintain
its competitive position, supported by ongoing compliance with
Private Mortgage Insurers Eligibility Requirements, which should
enable it to write new business and achieve operating performance
in line with S&P's expectations.  This is in spite of an expected
increase in exposure as a result of new business volumes and an
anticipated increase in persistency, partially offset by a decline
in legacy exposure, assuming the macroeconomic environment remains
supportive.

S&P can affirm the rating if the improvement in leverage is
somewhat slower than S&P's expectations.  S&P can lower the ratings
during the next two years if capitalization declines to
lower-adequate as per S&P's capital model and/or financial
leverage/coverage ratio deteriorates.  This could result from an
earnings disruption that slows or impairs capital
build-up--including deterioration in the economy--or increased
capital requirements from higher-than-expected volumes of new
business with an expanded risk profile, or from increased debt
load. Further downside risk emanates from the potential for
contingent liabilities that stretch Radian's resources materially.

S&P could raise the ratings during the next six to 12 months if the
company can successfully execute its capital-management plan
including redeeming/repurchasing 2019 convertible note and other
de-leveraging strategies to reduce leverage (around 28% by
year-end) and improving the debt-maturity profile.  Together with
improvement in relative capitalization as a result of reduced drag
from double leverage, earnings accretion and other
capital-management initiatives such as external reinsurance can
strengthen Radian's financial risk profile on a relative basis.



RCS CAPITAL: Schedules $1.40B in Assets, $912M in Debt
------------------------------------------------------
RCS Capital Corp. filed its schedules of assets and liabilities,
disclosing:

   Name of Schedule                   Assets       Liabilities
   ----------------                   ------       -----------
A. Real Property                          $0                       
   
B. Personal Property          $1,403,924,232           
C. Property Claimed as Exempt
D. Creditors Holding
   Secured Claims                                 $709,200,000
E. Creditors Holding Unsecured
   Priority Claims                                  $1,106,004
F. Creditors Holding Unsecured
   Non-priority Claims                            $202,143,956
                              --------------      ------------
TOTAL                         $1,403,924,232      $912,449,960

A copy of the company's schedules is available without charge at
http://is.gd/543ZP1

                         About RCS Capital

New York-based RCS Capital Corporation --
http://www.rcscapital.com/-- is a full-service investment firm
focused on the individual retail investor.  With operating
subsidiaries primarily focused on retail advice and until the
completion of recently announced pending sales and divestiture of
its wholesale distribution and investment banking, the company's
business aims to capitalize, grow and maximize value for the
investment programs its distributes and the independent advisors
and clients it serves.

RCS Capital Corporation and 11 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10223 to
16-10234) on Jan. 31, 2016.  The petitions were signed by David
Orlofsky as chief restructuring officer. The Debtors disclosed
total assets of $1.97 billion and total debts of $1.39 billion.

The Debtors have engaged Dechert LLP as general counsel, Young
Conaway Stargatt & Taylor, LLP as Delaware counsel, Zolfo Cooper
Management, LLC as restructuring advisor, Lazard Freres & Co. LLC
as investment banker and Prime Clerk LLC as administrative advisor
and claims and noticing agent.


RIVERSIDE PLAZA: Case Summary & 8 Unsecured Creditors
-----------------------------------------------------
Debtor: Riverside Plaza Developers, LLC
        10 Hidden Brook Drive
        North Barrington, IL 60010-6913

Case No.: 16-08747

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: March 14, 2016

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

Judge: Hon. Jack B. Schmetterer

Debtor's Counsel: Neal L Wolf, Esq.
                  TETZLAFF LAW OFFICES, LLC
                  227 W. Monroe Street, Suite 3650
                  Chicago, IL 60606
                  Tel: 312-574-1000
                  Fax: 312-574-1001
                  E-mail: nwolf@tetzlafflegal.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Mary Christine Misik, manager.

List of Debtor's eight Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Bruning & Associates, P.C.          Professional          $1,000
                                      services

Cindi McDonald                                                 $0

Comcast                                                    $1,800

ComEd                                                      $4,400

Doug Paice                                                     $0

Nicor                                                        $800

Village of Algonquin                  Sidewalk           $350,000
2200 Harnish Drive
Algonquin, IL
60102-5995

Village of Algonquin                 Water/Sewer           $1,200


SABINE OIL: Seeks to Extend Access to Cash Collateral
-----------------------------------------------------
Sabine Oil & Gas Corp. asks the U.S. Bankruptcy Court to extend the
"expiration date" contained in the Final Cash Collateral Order
through which the Debtors may use the Cash collateral to May 15,
2016, subject to further extension with the consent of the Debtors
and first lien agent Wells Fargo Bank, N.A., to: (a) June 15, 2016
and (b) July 16, 2016, in each case without the need for further
Court approval.  

The Court on Sept. 16, 2015, entered a final order authorizing the
Debtors to use cash collateral.  Although the Cash Collateral
Motion was hotly contested and subject to multiple objections, the
Debtors helped facilitate the fair and balanced agreement that is
embodied in the Final Cash Collateral Order, which provides
critical protections to the prepetition secured parties while at
the same time preserving numerous rights for the Debtors, the
Creditors Committee and third parties.  Among other things, the
Final Cash Collateral Order formalizes an agreement among various
constituencies, including the Debtors, the First Lien Agent, the
Second Lien Agent and the Committee, with respect to the Debtors'
use of Cash Collateral.

The Debtors are only requesting an extension of the status quo that
was agreed to and implemented under the Final Cash Collateral Order
so they may continue to operate their business and, more
importantly, emerge from Chapter 11.  The proposed extension does
not change any of the terms of the Final Cash Collateral Order or
rights granted or preserved thereunder.  Accordingly, there is no
reason for the Committee or any other party-in-interest to object
to the Court's entry of the Order.

The Debtors previously inked stipulations extending the Expiration
Date to Feb. 15, 2016, and then to March 14.

                        About Sabine Oil & Gas

Sabine Oil & Gas Corp. is an independent energy company engaged in
the acquisition, production, exploration, and development of
onshore oil and natural gas properties in the U.S.  The Company's
current operations are principally located in the Cotton Valley
Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in
South Texas, the Granite Wash in the Texas Panhandle, and the
North
Louisiana Haynesville.  The Company operates, or has joint working
interests in, approximately 2,100 oil and gas production sites
(approximately 1,800 operating and approximately 315
non-operating)
and has approximately 165 full-time employees.

Sabine Oil and its affiliated entities sought Chapter 11
protection
(Bankr. S.D.N.Y. Lead Case No. 15-11835) in Manhattan on July 15,
2015.

The Debtors have engaged Kirkland & Ellis LLP and Kirkland & Ellis
International LLP, as counsel; Lazard Freres & Co. LLC, as
investment banker and Prime Clerk LLC as notice, claims and
balloting agent.  The Debtors also tapped Zolfo Cooper Management,
LLC, to provide Jonathan A. Mitchell as CRO and other additional
personnel.

The U.S. Trustee for Region 2 appointed five creditors to serve on
the official committee of unsecured creditors.  The Committee is
represented by Mark R. Somerstein, Esq., Keith H. Wofford, Esq.,
and D. Ross Martin, Esq., at Ropes & Gray LLP as their counsel.
The Committee is also hiring Blackstone Advisory Partners L.P. as
investment banker; and Berkeley Research Group, LLC as financial
advisor.

                           *     *     *

Sabine oil has proposed a Chapter 11 plan that contemplates a
restructuring of the energy company and its affiliates through a
debt-for-equity conversion and the issue of warrants to purchase
stock in the reorganized companies.


SANCTUARY OF PRAISE: Case Summary & 10 Unsecured Creditors
----------------------------------------------------------
Debtor: The Sanctuary of Praise
        8788 Hadden Rd
        Twinsburg, OH 44087

Case No.: 16-50537

Chapter 11 Petition Date: March 14, 2016

Court: United States Bankruptcy Court
       Northern District of Ohio (Akron)

Judge: Hon. Alan M. Koschik

Debtor's Counsel: Edwin H. Breyfogle, Esq.
                  108 Third St NE
                  Massillon, OH 44646
                  Tel: (330)837-9735
                  Fax: (330)837-8922
                  E-mail: edwinbreyfogle@sssnet.com

Total Assets: $1.25 million

Total Liabilities: $726,916

The petition was signed by Dr. William B. Smith Sr, senior pastor.

A list of the Debtor's 10 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ohnb16-50537.pdf


SCARBOROUGH & HARGETT: U.S. Trustee Unable to Appoint Committee
---------------------------------------------------------------
The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Scarborough & Hargett Funeral Home Inc.

Scarborough & Hargett Funeral Home Inc. sought protection under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for
the Middle District of North Carolina (Durham) (Bankr. M.D.N.C.,
Case No. 16-80220) on March 11, 2016. The petition was signed by J.
C. Scarborugh III, president.

The Debtor is represented by Florence A. Bowens, Esq. The case is
assigned to Judge Catharine R. Aron.

The Debtor estimated assets of $50,000 to $100,000 and debts of $1
million to $10 million.


SEPCO CORP: Schedules $60.7M in Assets, $619K in Debt
-----------------------------------------------------
Sepco Corp. filed its schedules of assets and liabilities,
disclosing:

   Name of Schedule                   Assets       Liabilities
   ----------------                   ------       -----------
A. Real Property                          $0                       
   
B. Personal Property            $60,749,509           
C. Property Claimed as Exempt
D. Creditors Holding
   Secured Claims                                     $536,125
E. Creditors Holding Unsecured
   Priority Claims                                          $0
F. Creditors Holding Unsecured
   Non-priority Claims                                 $83,103
                              --------------      ------------
TOTAL                            $60,749,509          $619,229

A copy of the company's schedules is available without charge at
http://is.gd/HmvfjF

                    About Sepco Corporation

Aurora, Ohio-based Sepco Corporation filed a Chapter 11 bankruptcy
petition (Bankr. N.D. Ohio. Case No. 16-50058) on Jan. 14, 2016.
The petition was signed by Richard J. Szekelyi as chief
restructuring officer.  Buckley King, LPA represents the Debtor as
counsel.  The case has been assigned to Judge Alan M. Koschik.


SHASTA ENTERPRISES: Sale of Redbanks Greenbelt Property Okayed
--------------------------------------------------------------
Hank M. Spacone, the Chapter 11 Trustee of Shasta Enterprises, on
March 8, 2016, received approval from the bankruptcy Court to sell
real property known as the Redbanks Greenbelt Property located at
290 Hemsted Drive, Redding, CA to Mr. Chuck Higgs or his assignee,
subject to overbidding, pursuant to Sec. 363 of the Bankruptcy
Code.  The Trustee is also authorized to:

   * pay the real property taxes estimated at $200;

   * pay other costs and expenses allocated to the seller under the
proposed sale agreement;

   * pay an incentive bonus to David Cretaro from the sale proceeds
in an amount of the lesser of $10,000 or 5% of any actual net
recovery by the Estate from the sale of the property.

Pursuant to a Sale Agreement dated Jan. 21, 2016, Higgs has agreed
to pay $49,900 to the Estate to acquire the property on an
as-is/where-is basis.

                     About Shasta Enterprises

Redding, California-based Shasta Enterprises, dba Vidal Vineyards,
dba Silverado Knolls, dba Villa Vidal Vineyards, sought bankruptcy
protection (Bankr. E.D. Cal. Case No. 14-30833) on Oct. 31,
2014. The petition was signed by Antonio Rodriguez, general
partner.

Judge Michael S. McManus presides over the case.  The Debtor's
counsel is David M. Brady, Esq., at Law Office of Cowan & Brady,
in Redding, California.

The Debtor disclosed total assets of $33.4 million and total debt
of $21.5 million.

The Court, on Dec. 29, 2014, approved the appointment of Hank
Spacone as the Chapter 11 trustee of the Debtor's estate.


SUNDEVIL POWER: Court OK's May 4 Auction of Assets
--------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware approved the procedures governing the sale of
substantially all of Sundevil Power Holdings, LLC, et al.'s
assets.

All bids must must be submitted so as to be received not later than
April 29, 2016.  Each Qualified Bidder will be invited to
participate in an auction at the offices of Vinson & Elkins LLP, in
New York, on May 4.

The Sale Hearing is scheduled on May 11, 2016, and any responses or
objections to the entry of the Sale Order shall be received no
later than April 26, 2016.  Responses or objections related solely
to the Successful Bidder or the ability of the Successful Bidder to
provide adequate assurance of future performance of an Assumed
Contract or Assumed Lease shall be filed no later than May 10,
2016.

The deadline for objecting to the amount of any Cure Payment
Liability related to Assumed Contracts and Assumed Leases will be
the later of April 26, 2016 or 14 days after the affected
counterparty is served with the Assumption Notice.  In cases in
which the Debtors are unable to establish that a default exists
with respect to any Assumed Contract or Assumed Lease, the relevant
Cure Payment Liability shall be set at $0.00 in the Assumption
Notice, without prejudice to the right of any counterparty to such
Assumed Contract or Assigned Lease to dispute such Cure Payment
Liability.

                About Sundevil Power

Merchant power generators Sundevil Power Holdings, LLC and SPH
Holdco LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. Del. Case Nos. 16-10369 and 16-10370,
respectively), on Feb. 12, 2016.  The petitions were signed by
Blake M. Carlson as authorized signatory.

The Debtors estimated assets in the range of $100 million to $500
million and liabilities of at least $100 million.  

The Debtors have engaged Vinson & Elkins LLP as legal counsel,
Drinker Biddle & Reath LLP as Delaware counsel, and Garden City
Group as claims and noticing agent.

Judge Kevin J. Carey is assigned to the case.


TIERRA DEL REY: Property Refinancing to Fund Full-Payment Plan
--------------------------------------------------------------
Tierra Del Rey, LLC, filed a proposed reorganization plan that
provides for the refinancing of its La Mesa, California property to
generate cash to pay all allowed claims, in full, including, full
payment of priority claims, secured claims and unsecured claims.
The interest holder, Bay Vista Methodist Heights, Inc., will retain
its equity interest in the Debtor.

The Debtor obtained term sheets from two prospective lenders to
make a 12-month $7,000,000 bridge loan that will enable the Debtor
to pay all allowed Claims and emerge from Chapter 11.  The Debtor
has obtained approval for at least one of these loans in the amount
of $7,100,000 ($100,000 larger than originally expected).

The anticipated uses of the refinance proceeds are as follows:

                                               Amount
                                               ------
    Administrative Claims                     $60,000
    US Trustee Fees                           $13,000
    Secured Claim of Fannie Mae            $4,500,000
    Secured Claim of AP Mortgage Company   $1,460,000
    All Priority Non-Tax Claims                    $0
    All Unsecured Claims                      $50,000
                                           ----------
          TOTAL                            $6,283,000

Based on the foregoing, the Debtor believes it will have more than
enough cash to pay creditors pursuant to the Plan; the Debtor will
have a reserve / cushion of at least $456,000 from the Refinance
Proceeds plus cash on hand totaling not less than the $111,674 it
had on hand as of Jan. 31, 2016, for a total reserve in excess of
$565,000.

The Debtor believes that no classes are impaired.  Nevertheless,
the Debtor is soliciting votes in favor of the Plan from all
Classes so that the Plan may be confirmed if the Court determines
that any classes the Debtor believes are unimpaired in fact are
impaired.  Ballots are due April 11, 2016.

The Debtor's attorneys:

         CURRY ADVISORS
         K. Todd Curry
         525 B Street, Suite 1500
         San Diego, California 92101
         Telephone: (619) 238-0004
         Fax Number: (619) 238-0006

A copy of the Amended Disclosure Statement to the Reorganization
Plan dated March 7, 2016, is available at:

       http://bankrupt.com/misc/Tierra_Del_Rey_195_Am_DS.pdf

                       About Tierra Del Rey

Tierra Del Rey, LLC, is a single asset real estate limited
liability company owned by Bay Vista Methodist Heights, Inc.
("BVMH").  BVMH is a nonprofit public benefit corporation formed in
1966 by Rev. Grandison M. Phelps, Pastor of St. Paul United
Methodist Church of San Diego, to provide affordable housing to the
community.  In 2008, BVMH acquired the 80-unit apartment complex
known as Tierra Del Rey in La Mesa, California for $7.53 Million.
Title to the La Mesa property, which is Tierra Del Rey LLC's sole
asset, is held by Tierra Del Rey.

The property was valued at $10.6 million and secures a debt of
$4.21 million debt to Fannie Mae (1st trust deed) and a $1.27
million debt to AP Mortgage Company, Inc. (2nd trust deed).

A receiver seized control of the apartment complex on June 19,
2015.  The receiver, Trigild Inc., was appointed at the behest of
AP Mortgage, which commenced the suit styled, AP Mortgage Company,
Inc. vs. Bay Vista Methodist Heights et al.
37-2015-00012044-CU-OR-CTL, SDSC Central Division.

Tierra Del Rey filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Cal. Case No. 15-04253) on June 29, 2015.  Judge Laura S. Taylor is
assigned to the case.

The Debtor's bankruptcy schedules, as amended, reflect total assets
of $10,685,041 (consisting of personal property at $85,041 and the
real property at $10,600,000), and total liabilities of $5,533,127
(consisting of secured claims of $5,484,514, priority claims of
$0.00, and general unsecured claims of $48,613).

The Debtor tapped Craig E. Dwyer, Esq., in San Diego, California,
as counsel.

No Creditor's Committee has been appointed in this case.


TIERRA DEL REY: Secured Creditors Object to Revised Disclosures
---------------------------------------------------------------
Secured creditor AP Mortgage Company submitted objections to the
revised Disclosure Statement to Tierra Del Rey, LLC's Plan of
Reorganization dated March 7, 2016.  Secured creditor Fannie Mae
also joined in AP Mortgage's opposition to the Disclosure
Statement.

Issues raised by AP Mortgage include:

   * The borrower under the proposed refinancing for the Debtor
will be a new entity, apparently not yet formed, which will be
wholly owned by Bay Vista Methodist Heights, Debtor's parent.
Neither the plan nor the Disclosure Statement describe the
mechanics of this proposed transactions or the corporate governance
issues regarding the new proposed entity, for instance, will the
new entity be another non-profit entity and, if so, the time to
receive designation of that non-profit status.  The declaration of
Brian M. Good is silent regarding any guarantee by that obligation
by the Debtor or by Bay Vista.  There is no explanation for the
need to have an entity other than Bay Vista or the Debtor as the
principal obligor on this new financing. The Disclosure Statement
should be augmented by including a description of these points.

   * The Debtor proposes to reduce the funds intended to be paid to
Fannie Mae from $5 million to $4,500,000. This figure does not
include any attorneys' fees or costs incurred to date or projected
through plan confirmation.  The Disclosure Statement indicates the
Debtor intends to seek immediate estimation or determination of
Fannie Mae's claim in connection with plan confirmation to obviate
any need to reserve for the dispute portion of Fannie Mae's claim.
If Fannie Mae establishes the full amount that it asserts, will
Fannie Mae seek to have a portion of the AP Mortgage reserve paid
to it?  How will the AP Mortgage reserve be replenished?

   * The Disclosure Statement indicates that the AP Mortgage
reserve will be $1,460,000 despite the fact that the AP Mortgage
proof of claim filed on Jan. 13, 2016 as Claim No. 3-1 reflects an
amount then owing of $1,517,934.  The Claim continues to bear
interest at the default rate of 11.25 percent and attorneys' fees
and costs continue to mount on that claim.  The Debtor intends to
litigate with AP Mortgage regarding the extent of the claim. There
is already litigation pending in San Diego County Superior Court
between the Debtor and Bay Vista on one hand and AP Mortgage on
the other.  The Plan and Disclosure Statement are not clear whether
the Debtor intends to continue with the state court litigation or
attempt new litigation in this Court. Similarly, the Debtor does
not address the issue of mandatory abstention by this Court of any
new litigation on the issues pursuant to 28 U.S.C. Sec. 1334(c)(2),
or the steps involved in litigation in this court and its appellate
procedures, in the state court or its appellate procedures, and the
cost involved in each of those routes, both attorneys' fees for AP
Mortgage allowable under Section 506(b) (11 U.S.C. Sec. 506(b)) and
interest at the rate of 11.25 percent per year.  AP Mortgage
estimates that its accumulated charges for interest, attorneys'
fees and costs for proceeding with the litigation already pending
in state court through the appellate process, a projected three
year period, would be $617,000.  AP Mortgage also believes that
pursuing litigation, at least initially, in this Court and through
the appellate process, a projected five year period, would result
in interest, attorneys' fees and costs of approximately
$1,200,000.

A hearing on the Revised Disclosure Statement and the objections is
slated for April 21, 2016, at 2:00 p.m.

Attorneys for creditor AP Mortgage Company:

         Michael Wright, Esq.
         LAW OFFICES OF MICHAEL WRIGHT
         5190 Governor Dr., Suite 207
         San Diego, CA 92122
         Telephone: (858) 554-1830
         Facsimile: (858) 554-0033
         E-mail: mwright@cochranohio.com

               - and -

         Michael Y. MacKinnon, Esq.
         Gerald N. Sims, Esq.
         PYLE SIMS DUNCAN & STEVENSON
         401 B Street, Suite 1500
         San Diego, CA 92101
         Telephone: (619) 687-5200
         Facsimile: (619) 687-5210
         E-mail: miguelm@psdslaw.com
                 jerrys@psdslaw.com

Attorney for Fannie Mae:

         David M. Hershorin, Esq.
         Jean Wilcox, Esq.
         Thomas S. Van, Esq.
         HERSHORIN & HENRY, LLP
         27422 Portola Parkway, Suite 360
         Foothill Ranch, CA 92610
         Tel: (949) 859-5600
         Fax: (949) 859-5680
         E-mail: davidh@hhlawgroup.com
                 jeanw@hhlawgroup.com
                 thomasv@hhlawgroup.com

                       About Tierra Del Rey

Tierra Del Rey, LLC, is a single asset real estate limited
liability company owned by Bay Vista Methodist Heights, Inc.
("BVMH").  BVMH is a nonprofit public benefit corporation formed in
1966 by Rev. Grandison M. Phelps, Pastor of St. Paul United
Methodist Church of San Diego, to provide affordable housing to the
community.  In 2008, BVMH acquired the 80-unit apartment complex
known as Tierra Del Rey in La Mesa, California for $7.53 Million.
Title to the La Mesa property, which is Tierra Del Rey LLC's sole
asset, is held by Tierra Del Rey.

The property was valued at $10.6 million and secures a debt of
$4.21 million debt to Fannie Mae (1st trust deed) and a $1.27
million debt to AP Mortgage Company, Inc. (2nd trust deed).

A receiver seized control of the apartment complex on June 19,
2015.  The receiver, Trigild Inc., was appointed at the behest of
AP Mortgage, which commenced the suit styled, AP Mortgage Company,
Inc. vs. Bay Vista Methodist Heights et al.
37-2015-00012044-CU-OR-CTL, SDSC Central Division.

Tierra Del Rey filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Cal. Case No. 15-04253) on June 29, 2015.  Judge Laura S. Taylor is
assigned to the case.

The Debtor's bankruptcy schedules, as amended, reflect total assets
of $10,685,041 (consisting of personal property at $85,041 and the
real property at $10,600,000), and total liabilities of $5,533,127
(consisting of secured claims of $5,484,514, priority claims of
$0.00, and general unsecured claims of $48,613).

The Debtor tapped Craig E. Dwyer, Esq., in San Diego, California,
as counsel.

No Creditor's Committee has been appointed in this case.


TIERRA DEL REY: Seeks July 1 Extension of Plan Filing Date
----------------------------------------------------------
Tierra Del Rey, LLC, asks the U.S. Bankruptcy Court for a second
time to extend through and including July 1, 2016, the period
during which only the Debtor may file a plan of reorganization to
enable the Debtor to negotiate with creditors and otherwise
complete its reorganization effort.

The Debtor asserts that a good cause exists for a further extension
of the exclusive period within which the Debtor may file a plan.
According to the Debtor, the progress it has made by filing a Plan,
by filing a Disclosure Statement that will be approved shortly, and
by scheduling a confirmation hearing for April 21, 2016, and in
light of other matters that have consumed the time of the Debtor
and its counsel and the length of time the Debtor's Chapter 11 case
has been pending are also noteworthy.

The Debtor further asserts that failure to grant a modest extension
of the exclusive period unfairly would shift the balance of power
in favor of secured creditors Fannie Mae and AP Mortgage, who have
sought to delay approval of the Disclosure Statement and prefer to
force a sale of the real property in a Chapter 7 case to enhance
their own rights. The Debtor also notes that its Creditors have not
raised serious issues concerning viability of the Plan or the
Debtor’s ability to confirm it.

Tierra Del Rey, LLC is represented by:

     K. Todd Curry, Esq.
     CURRY ADVISORS
     A Professional Law Corporation
     525 B Street, Ste. 1500
     San Diego, California 92101
     Telephone: (619) 238-0004
     Facsimile: (619) 238-0006

        About Tierra Del Rey

Tierra Del Rey, LLC, owns the Tierra Del Rey Apartments, an 80-unit
multi-family apartment complex at 3675 King Street and 6975 Waite
Street in La Mesa, California.  The property is valued at $10.6
million and secures a debt of $4.21 million debt to Fannie Mae (1st
trust deed) and a $1.27 million debt to AP Mortgage Company, Inc.
(2nd trust deed).

A receiver seized control of the apartment complex on June 19,
2015.  The receiver, Trigild Inc., was appointed at the behest of
AP Mortgage, which commenced the suit styled, AP Mortgage Company,
Inc. vs. Bay Vista Methodist Heights et al.
37-2015-00012044-CU-OR-CTL, SDSC Central Division.

Tierra Del Rey filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Cal. Case No. 15-04253) on June 29, 2015, disclosing assets of
$10.8 million against $5.54 million in debt.

The Debtor tapped Craig E. Dwyer, Esq., in San Diego, California,
as counsel.


TRANEN CAPITAL: Liquidation Proceedings Recognized in U.S. Courts
-----------------------------------------------------------------
The Hon. Sean H. Lane of the U.S. Bankruptcy Court for the Southern
District of New York recognized the winding up and liquidation of
Tranen Capital Alternative Investment Fund Ltd. in the Eastern
Caribbean Supreme Court in the High Court of Justice in the British
Virgin Islands as a foreign main proceeding under Section 1517 of
the Bankruptcy Code.

As reported by the Troubled Company Reporter on Sept. 25, 2015,
Hadley J. Chilton and John J. Greenwood of Baker Tilly (BVI)
Limited, in their capacities as joint liquidators for the Debtor
had asked the Court to recognize the winding up and liquidation of
the Debtor.

The Joint Liquidators filed under Chapter 15 of the Bankruptcy
Code, which would compel parties to cooperate with their
investigation of the Debtor's possible claims against numerous U.S.
persons, including its directors, managers, and certain service
providers arising from material irregularities in relation to the
Debtor, its management, and its affairs.

"This tolling will afford the Petitioners an opportunity to
conclude their investigations and properly and timely assert
claims against third parties who may have engaged in wrongful
conduct against the Debtor," says Martin G. Bunin, Esq., at Alston
& Bird LLP, counsel to the Joint Liquidators.

On July 4, 2014, the Debtor filed an application with the Eastern
Caribbean Supreme Court in the High Court of Justice in the British
Virgin Islands to appoint liquidators after forensic analysis
indicated that it was insolvent and that a liquidator should be
appointed.  The Application was granted on July 11, 2014.

Before being placed into liquidation by the BVI Court, Tranen
Capital purportedly transacted and invested in the secondary life
insurance market.  Around July 2012, the Debtor ceased making
premium payments on policies it then owned, causing those policies
to lapse.

The Debtor officially announced on May 30, 2013, that its board of
directors had determined to suspend the payment of redemptions,
citing: (1) a large number of redemption requests received over a
short period; (2) difficulty in quickly selling insurance policies
without adverse consequences to the Debtor's assets; and (3) the
resulting delay of cash flow due to the theft of a death benefit
due the Debtor.  The Debtor's board of directors also immediately
suspended trading on the Irish Stock Exchange.

Tranen Capital is also a party to civil actions in various states
in the U.S. arising from supposed misappropriation and personal use
of invested funds.  Certain investors have alleged that the
directors and managers of the Debtor used the invested funds,
proceeds, and death benefits to, among other things, purchase real
estate for their personal benefit, purchase luxury automobiles for
their personal benefit, purchase or lease a private aircraft and
otherwise lead lavish lifestyles.

And according to a 2013 KPMG audit, the Debtor's management team
allegedly: (a) redeemed their own shares while postponing or
delaying redemption requests from investors; (b) loaned themselves
money from the Debtor's assets; (c) could not account for a
$10,000,000 receivable; (d) made a "loan to affiliate" of
$16,000,000; and (e) caused multiple policies to lapse, which
materially harmed the Debtor and its assets.

The Joint Liquidators expect the Debtor to benefit from the
"breathing spell" afforded by the automatic stay once the order
recognizing the BVI Proceeding is entered.

Per the Winding-up Order, the Joint Liquidators have all the power
to commence, continue, discontinue or defend any action or other
legal proceedings on behalf of the Debtor.

As reflected in the petition, the Debtor has estimated assets of
$10 million to $50 million and liabilities of more than $100
million.

The Debtor has approximately 200 investors with approximately
$184,000,000 of invested capital.  The Debtor also has
approximately 23 U.S.-based creditors.

A copy of the petition is available for free at:

        http://bankrupt.com/misc/2_TRANEN_petition.pdf

Chapter 15 Petitioners: Hadley J. Chilton and John J. Greenwood of
Baker Tilly (BVI) Limited, as Joint Liquidators filed Chapter 15
petition for Tranen Capital Alternative Investment Fund Ltd. (in
liquidation) (Bankr. S.D. NY Case No. 15-12620) on Sept. 24, 2015.

The Hon. Sean H. Lane presides over the case.  The petitioners are
represented by Martin G. Bunin, Esq., William S. Sugden, Esq.,
Jonathan T. Edwards, Esq., at Alston & Bird LLP.  The Debtor's
estimated assets at $10 million to $50 million and debts at $100
million to $500 million.


TRINITY TOWN: Schedules $25.2M in Assets, $21.6M in Debt
--------------------------------------------------------
Trinity Town Center LLLP filed its schedules of assets and
liabilities, disclosing:

   Name of Schedule                   Assets       Liabilities
   ----------------                   ------       -----------
A. Real Property                 $25,180,000                       
   
B. Personal Property                 $35,778           
C. Property Claimed as Exempt
D. Creditors Holding
   Secured Claims                                  $19,991,525
E. Creditors Holding Unsecured
   Priority Claims                                        $971
F. Creditors Holding Unsecured
   Non-priority Claims                              $1,607,373
                              --------------      ------------
TOTAL                            $25,215,778       $21,599,870

A copy of the company's schedules is available without charge at
http://is.gd/DEXHJi

                    About Trinity Town Center

Trinity Town Center LLLP is a Florida limited liability limited
partnership, developing, owning and operating the Trinity Town
Center, a real estate project located in Trinity, Florida, that is
intended to be used as a life style center containing retail,
restaurant, financial services, and offices for professional and
medical.

On Jan. 20, 2015, Trinity Town Center LLLP filed a Chapter 11
petition (Bankr. M.D. Fla. Case No. 16-00405) in Tampa, Florida.
The petition was signed by Michael D. Luetgert, the CRO.

The Debtor has tapped McIntyre Thanasides Bringgold Elliot as its
legal counsel.

                            *     *     *

The deadline for filing claims is May 9, 2016.


UNITED NATIONAL: March 24 Meeting Set to Form Creditors' Panel
--------------------------------------------------------------
Andy Vara, United States Trustee of Region 3, will hold an
organizational meeting on March 24, 2016, at 11:00 a.m. in the
bankruptcy case of United National Machine Tool, Inc.

The meeting will be held at:
        
         United States Bankruptcy Court
         402 East State Street, Room 129
         Trenton, New Jersey 08608

The sole purpose of the meeting will be to form a committee or
committees of unsecured creditors in the Debtors' case.

The organizational meeting is not the meeting of creditors pursuant
to Section 341 of the Bankruptcy Code.  A representative of the
Debtor, however, may attend the Organizational Meeting, and provide
background information regarding the bankruptcy cases.

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.

Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.





VALEANT PHARMA: Delay in Filing Audited Results Add to Discord
--------------------------------------------------------------
Robert Cyran, writing for The New York Times' DealBook, reported
that Valeant Pharmaceuticals International's failure to file
audited results has started a countdown to default that vaporized
more than 40 percent of its market value in early trading on March
15.

According to the report, executives are mulling selling assets, but
with so many questions about its financials unanswered, Valeant's
outlook is bleak.

It is never good when the conversation on a company's earnings
conference call focuses on its liquidity and ability to meet debt
obligations, the report related.  The now $12.5 billion company has
about $30 billion of debt, thanks to a string of acquisitions; with
more than $1 billion of cash on hand, executives argue that it can
meet its remaining scheduled debt and interest payments this year,
the report further related.

That becomes irrelevant if it cannot produce audited results within
60 days, as investors can then demand that Valeant repay a chunk of
its debt, the report added.

Headquartered in Laval, Quebec, Valeant Pharmaceuticals
International, Inc. is a global specialty pharmaceutical company
with expertise including branded dermatology, gastrointestinal
disorders, eye health, neurology, branded generics and OTC
products.  Valeant reported approximately $10 billion in total
revenue for the 12 months ended Sept. 30, 2015.

                      *     *     *

The Troubled Company Reporter, on Feb. 25, 2016, reported that
Moody's Investors Service affirmed the ratings of Valeant
Pharmaceuticals International, Inc. and subsidiaries, including the
Ba3 Corporate Family Rating and Ba3-PD Probability of Default
Rating.  At the same time, Moody's revised the rating outlook to
negative from stable.

This rating action follows the announcement that Valeant will not
file its Form 10-K report with the Securities and Exchange
Commission by the required filing deadline of Feb. 29, 2016.
Valeant's late 10-K filing relates to the ongoing work of its ad
hoc board committee, and the finding of misstatements related to
the timing of revenue recognition.  Moody's notes that the amount
of the misstatements appears relatively minor.  However, the
misstatements may not be final because the work of the ad hoc
committee remains ongoing including its review of accounting and
its relationship with Philidor.


VARIANT HOLDING: LFHC Discloses Zero Assets, $110M in Debt
----------------------------------------------------------
Laser Focus Holding Company LLC, an affiliate of Variant Holding
Company LLC, disclosed zero assets and $110,450,111 in debts in its
schedules of assets and liabilities:

   Name of Schedule                   Assets       Liabilities
   ----------------                   ------       -----------
A. Real Property                          $0                       
   
B. Personal Property                      $0           
C. Property Claimed as Exempt
D. Creditors Holding
   Secured Claims                                  $91,043,597
E. Creditors Holding Unsecured
   Priority Claims                                    $331,006
F. Creditors Holding Unsecured
   Non-priority Claims                             $19,075,507
                                  ----------       -----------
TOTAL                                     $0      $110,450,111

A copy of the company's schedules is available without charge at
http://is.gd/phFw28

                       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.

Laser Focus Holding Company LLC and 33 other subsidiaries of
Variant 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 cases are jointly administered under Lead Case No. 14-12021.

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.


WESTECH CAPITAL: Case Summary & 7 Unsecured Creditors
-----------------------------------------------------
Debtor: Westech Capital Corp.
           fka Tejas, Inc.
        c/o Stephen A. Roberts
        Strasburger & Price, LLP
        720 Brazos, Suite 700
        Austin, TX 78701

Case No.: 16-10300

Chapter 11 Petition Date: March 14, 2016

Court: United States Bankruptcy Court
       Western District of Texas (Austin)

Debtor's Counsel: Stephen A. Roberts, Esq.
                  STRASBURGER & PRICE, LLP
                  720 Brazos Street, Suite 700
                  Austin, TX 78701
                  Tel: (512) 499-3600
                  Fax: (512) 499-3660
                  E-mail: stephen.roberts@strasburger.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gary Salamone, CEO.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/txwb16-10300.pdf


WESTERN DIGITAL: Fitch Assigns 'BB+' Issuer Default Rating
----------------------------------------------------------
Fitch Ratings has assigned a first-time 'BB+' Issuer Default Rating
(IDR) to Western Digital Corp. (Western Digital). The Rating
Outlook is Stable. Pro forma for the acquisition of SanDisk
Corporation (SanDisk) and repayment of the bridge facility, Fitch
expects its ratings will affect $15.1 billion of total debt,
including the $1 billion revolving credit facility (RCF). A
complete list of rating actions follows at the end of this release.


KEY RATING DRIVERS

-- Diversified Storage Portfolio: Fitch believes the acquisition
    of SanDisk diversifies Western Digital's technology portfolio
    and strengthens positions in secular growth markets. Western
    Digital's technology stack, including hard disk drives (HDD),
    NAND flash-based solid state drives (SSD) and software
    uniquely positions the company for next generation storage
    platforms, while reducing nearer-term risks associated with
    SSD cannibalization of HDDs.

-- Increased Scale and Profitability: The combination increases
    scale and profitability, which Fitch believes will be
    essential to support higher investment intensity as: i)
    Western Digital faces larger competitors; and ii) the industry

    rapidly evolves around significant cloud driven data growth
    and new storage architectures, such as 3D NAND. Should
    investment levels needed to keep up with technology
    developments in 3D NAND intensify and are not satisfied with
    operating cash flows at the joint venture (JV) or through
    equipment leases, Western Digital and Toshiba Corporation may
    jointly decide to contribute capital to the JV.

-- Credible Margin Expansion Story: Fitch expects cost synergies
    related to the deal and integration of Hitachi Global Storage
    Technologies (Hitachi) will drive meaningful profit margin
    expansion. Fitch's base case assumes more than $500 million of

    cost synergies in the first year after the deal closes and
    more than $1 billion in subsequent years. Given Western
    Digital's high fixed cost model, these cost synergies should
    drive operating EBITDA margin to the mid- to high-20s from the

    low 20s, pro forma for the acquisition.

-- Commitment to Debt Reduction: Fitch expects rapid debt
    reduction from free cash flow (FCF) and tax efficient use of
    offshore cash, made possible in connection with a
    restructuring that is expected to relocate SanDisk's domestic
    intellectual property (IP) offshore, will result in the
    Company achieving its 1.5x total leverage (total debt to
    operating EBITDA) target in the intermediate-term. Fitch
    expects significant annual FCF of $1.5 billion to $2 billion
    beyond the near-term, during which Fitch believes the vast
    majority of cash restructuring costs will largely offset
    recurring FCF. Until Western Digital achieves the 1.5x total
    leverage target, Fitch expects the company will limit share
    repurchases to offsetting dilution.

-- Significant Technology Risk: Fitch believes Western Digital is

    subject to significant technology risk from the storage
    industry's rapid evolution and emergence of new storage
    architectures. Western Digital's strategy of layering
    optimized software onto hybrid HDDs/SSDs for next generation
    platform solutions further shifts the company's focus to
    hyper-scale and traditional data center markets (and away from

    personal computers) but also intensifies technology risk
    related to a wider array of competitors with alternative
    technologies.

-- 3D NAND Roadmap: Fitch believes Western Digital could
    structurally trail competitors in 3D NAND through the
    intermediate term, potentially adversely impacting operating
    results and reducing FCF for debt reduction. Given SanDisk's
    cost advantage in 2D NAND, the company plans to ship 3D NAND
    with a gradual volume ramp beginning in the second-half of
    calendar 2016 and continuing throughout calendar 2017 and
    2018. Intel and Samsung, both larger competitors with greater
    financial capacity, currently are or will ship 3D NAND in the
    near term. At the same time, SanDisk owns a number of patents
    related to 3D NAND that it licenses to certain competitors,
    indicating the company has invested significantly in the
    technology.

-- Revenue Pressures and Volatility: Fitch expects the combined
    company will face meaningful near- to intermediate-term
    revenue pressures and that increased exposure to datacenter
    spending could exacerbate volatility. Revenues have declined
    on a constant currency basis in each of the past two years,
    due to negative PC unit growth and SSD's cannibalization of
    HDDs in PCs and performance enterprise. Fitch expects
    SanDisk's removable retail business will continue being
    pressured by the increased use of cloud based storage and the
    decreased use of single function electronic devices, such as
    cameras. Meanwhile, a sales mix shift to datacenters should
    improve visibility but also add top line volatility from capex

    cycles. Beyond the next two years, Fitch anticipates low- to
    mid-single digit organic revenue growth from market growth in
    datacenters and enterprise markets.

-- High Leverage Reduces Flexibility: Fitch anticipates leverage
    will be 3.4x at the close of the transaction (excluding
    synergies and pro forma the repayment of the bridge loan),
    limiting financial flexibility, although Fitch expects rapid
    debt reduction from higher FCF and offshore cash repatriation.

    Fitch believes reducing leverage is imperative for Western
    Digital, as investments in innovation, including potential IP-
    driven acquisitions, are critical to long-term success given
    rapid technology evolution.

KEY ASSUMPTIONS

-- SanDisk acquisition closes at the beginning of the first
    quarter in fiscal 2017.
-- Mid-double digit negative revenue growth in fiscal 2016,
    driven by lower PC shipments, cannibalization of HDDs by SSDs,

    slowing smartphone demand, and a pause in datacenter capacity
    growth.
-- Low-single digit revenue growth in 2017 and mid-single revenue

    growth in 2018, driven by solid client SSD unit growth,
    moderating PC unit declines, and significant data growth
    driving enterprise SSD and nearline HDD unit growth.
-- Significant synergies related to Western Digital's integration

    of Hitachi and SanDisk driving meaningful profit margin
    expansion, despite pressures in the removable retail business
    and core NAND markets such as smartphones.
-- Repatriation of foreign cash for debt prepayment.
-- No increases to the dividend or share repurchases beyond anti-
    dilution until the company achieves its target leverage of
    1.5x.

RATING SENSITIVITIES

The ratings may be downgraded if Fitch expects:

-- Sustained negative revenue growth, likely from i) slower than
    anticipated growth within enterprise that is insufficient to
    offset the secular decline in PCs and the removable storage
    market, or ii) market share losses to competing technologies,
    including 3D NAND; or
-- Slower than expected debt reduction resulting in total
    leverage sustained above 3x.

Positive rating actions would require Fitch's expectations for:

-- Consistently positive mid-cycle organic revenue growth from
    successful implementation of the company's strategy, including

    increased penetration in enterprise growth markets by
    leveraging its technology stack; and

-- Western Digital to reach 1.5x total leverage from significant
    voluntary debt reduction.

LIQUIDITY

Fitch believes Western Digital's liquidity position is solid,
supported by:

-- Estimated U.S. and foreign cash balances of $1 billion and
    $3.25 billion at time of deal close (pro forma repayment of
    the bridge facility); and

-- $700 million of undrawn capacity under its revolving credit
    facility.

Fitch's expectation for annual FCF of more than $1.5 billion also
supports liquidity.

FULL LIST OF RATING ACTIONS

Western Digital Corp.
-- Long-term Issuer Default Rating (IDR) 'BB+';
-- Senior secured revolving credit facility 'BBB-/RR1';
-- Senior secured term loan A 'BBB-/RR1';
-- Senior secured term loan B 'BBB-/RR1';
-- Senior secured notes 'BBB-/RR1';
-- Senior unsecured notes 'BB+/RR4'.



WHITEWATER PLAZA: Case Summary & 10 Unsecured Creditors
-------------------------------------------------------
Debtor: Whitewater Plaza, LLC
        1139 W. Main Street
        Whitewater, WI 53190

Case No.: 16-22137

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: March 14, 2016

Court: United States Bankruptcy Court
       Eastern District of Wisconsin (Milwaukee)

Judge: Hon. Susan V. Kelley

Debtor's Counsel: Justin M. Mertz, Esq.
                  KERKMAN & DUNN
                  757 N. Broadway, Suite 300
                  Milwaukee, WI 53202
                  Tel: 414-277-8200
                  Email: jmertz@kerkmandunn.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Daniel B. Genzel, authorized agent.

A list of the Debtor's 10 largest unsecured creditors is available
for free at http://bankrupt.com/misc/wieb16-22137.pdf


WINDSOR FINANCIAL: Gets Approval to Hire Lowenstein as Counsel
--------------------------------------------------------------
Windsor Financial Group LLC received court approval to hire
Lowenstein Sandler LLP as its bankruptcy counsel.

The services to be provided by the firm include counseling Windsor
Financial with regard to its rights and obligations as a
debtor-in-possession; appearing in court on behalf of the company;
preparing court documents; and prosecuting actions by the company
to protect its estate.

Lowenstein will be compensated on an hourly basis and will receive
reimbursement for work-related expenses.  The firm's hourly rates
are as follows:

     Partners                     $550 - $1,100
     Senior Counsel and Counsel   $390 – $695
     Associates                   $285 - $595
     Paralegals and Assistants    $110 - $290

Sharon Levine, Esq., a partner at Lowenstein, disclosed in a
declaration that the firm does not hold an interest adverse to
Windsor Financial's estate and is a "disinterested person" under
section 101(14) of the Bankruptcy Code.

                     About Windsor Financial

Windsor Financial Group LLC filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 16-10097) on Jan. 15, 2016.  Armando Ruiz
signed the petition as chief executive officer.  The Debtor
estimated both assets and liabilities in the range of $10 million
to $50 million.  Lowenstein Sandler LLP serves as the Debtor's
counsel.


WINDSTREAM SERVICES: S&P Rates Proposed $400MM Sr. Sec. Loan 'BB'
-----------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' issue-level
rating and '1' recovery rating to Little Rock, Ark.-based
telecommunications service provider Windstream Holdings Inc.'s
proposed $400 million senior secured term loan B-6 due 2021, to be
issued out of wholly-owned subsidiary Windstream Services, LLC. The
'1' recovery rating indicates S&P's expectation for very high
(90%-100%) recovery in the event of payment default.  S&P expects
that net proceeds from the term loan will be used to repay a
portion of its existing senior unsecured notes due in 2017.

S&P's 'B+' corporate credit rating and stable outlook are not
affected by the transaction since S&P expects it to be
leverage-neutral, despite some modest interest cost savings.  S&P
expects Windstream's debt to EBITDA to remain in the mid-5x area or
higher, and free operating cash flow to debt to be less than 5%
over the next couple of years.  Moreover, Windstream has an
aggressive financial policy and S&P believes that it could pursue a
strategy that allocates a portion of excess cash flow to drive
shareholder returns.

S&P's assessment of Windstream's business risk is based on its
solid, albeit deteriorating, position as a provider of local and
long-distance telecommunications services in less competitive rural
markets, modest revenue growth from high-speed data services and
enterprise customers, and healthy adjusted EBITDA margins, in the
mid-30% area.  Partial mitigating factors include competition from
wireless substitution and cable telephony, resulting in ongoing
voice access line losses in the residential segment, and
competitive pressures in the company's CLEC markets, which has hurt
overall revenue trends.  Moreover, the large fixed rent expense
associated with the spin-off of its fiber and copper assets reduces
its operating flexibility, which is particularly important if
revenues continue to decline.

RATINGS LIST

Windstream Holdings Inc.
Corporate Credit Rating                       B+/Stable/--

New Ratings

Windstream Holdings Inc.
Senior secured term loan B-6 due 2021         BB
  Recovery Rating                              1



WIRECO WORLDGROUP: Closing Most Operations in St. Joseph
--------------------------------------------------------
Dow Jones' Daily Bankruptcy Review, citing the Associated Press,
reported that a company that was once one of St. Joseph, Mo.'s
largest employers is closing most of its manufacturing operations
and will eliminate all but 14 jobs.

According to the report, WireCo WorldGroup President and Chief
Executive Chris Ayers announced that it is eliminating 49 jobs and
winding down a wire rope manufacturing operation that once employed
1,500 people in St. Joseph and has been in the city for nearly 70
years.

                          *     *     *

The Troubled Company Reporter, on March 9, 2016, reported that
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Kansas City, Mo.-based WireCo WorldGroup Inc. one
notch to 'B-' from 'B'.  The rating outlook is negative.

At the same time, S&P lowered the issue-level ratings on WireCo's
senior credit facilities due February 2017 to 'B' from 'B+' and
its
$425 million senior unsecured notes due 2017 to 'CCC+' from 'B-'.
The '2' recovery rating on the company's senior secured credit
facilities due February 2017 and '5' recovery rating on the
company's 9.5% senior unsecured notes due May 2017 are unchanged.
The '2' recovery rating indicates S&P's expectation for
substantial
(70% to 90%; at the upper end of the range) recovery in the event
of a payment default while the '5' recovery rating indicates S&P's
expectation for modest (10% to 30%; at the lower end of the range)
recovery in the event of a payment default.


XENONICS HOLDINGS: Sec. 341 Meeting Set for April 12
----------------------------------------------------
Bankruptcy Data reports that the U.S. Trustee scheduled a meeting
of creditors under Sec. 341 of the Bankruptcy Code for April 12,
2016, in the Chapter 7 case of Xenonics Holdings.

Xenonics Holdings, Inc. (OTCQB: XNNH) on March 11 announced that it
has filed a petition for Chapter 7 Bankruptcy (S.D. Cal. Case No.
16-01313).  The Company is represented by Michael D. Breslauer,
Esq. -- mbreslauer@swsslaw.com -- of Solomon Ward Seidenwurm &
Smith.

Xenonics was severely impacted by the reductions in the U.S.
Defense budget and by delays in obtaining highly anticipated and
significant international purchase orders, the Company said in a
statement. For the last seven months the Company's officers worked
diligently without compensation to obtain purchase orders while
barely being able to maintain minimal operations. Without these
purchase orders, the Company does not have enough working capital
to continue operations.

                           About Xenonics

Headquartered in Carlsbad, California, Xenonics Holdings, Inc. --
http://www.xenonics.com-- develops and produces advanced,  
lightweight and compact ultra-high-intensity illumination and
low-light vision products for military, law enforcement, public
safety, and commercial and private sector applications.


YBRANT MEDIA: Declares Bankruptcy Over Lycos-Related Lawsuit
------------------------------------------------------------
Ybrant Media Acquisition, Inc., sought protection under Chapter 11
of the Bankruptcy Code after losing $36.6 million in a legal fight
with Korea's Daum Global Holdings Corp. over its acquisition of the
Lycos search engine.

The Debtor has commenced its Chapter 11 case to afford it
sufficient time to complete its ongoing discussion with Daum.  It
is also looking forward to raise capital through debt or equity
financing in order to fund the settlement and satisfy claims of
other creditors.

According to documents filed with the Court, Ybrant entered into a
stock purchase agreement with Daum on Aug. 15, 2010, to acquire
from Daum 100% of the issued and outstanding capital stock of
Lycos, Inc.  In accordance with the SPA, the exact purchase price
was to be determined after the close of Lycos' 2010 fiscal year,
less $20 million which was due at closing.

Ybrant said it paid to Daum the initial $20 million on Oct. 14,
2010, and Daum transferred to it 4,905,498 shares, representing a
56% ownership interest in Lycos.  Pursuant to the terms of the SPA,
Daum retained a security interest in 44% of the shares (3,854,319)
to secure Ybrant's payment obligation.

The Debtor asserted that it owed Daum $17.2 million in earnout
payments.  Daum, on the other hand, insisted that it was entitled
to $33.6 million additional payments.

Unable to settle the dispute, Daum launched an arbitration case
against Ybrant with the Secretariat of the ICC International Court
of Arbitration on Jan. 3, 2012.  The ICC International Court of
Arbitration, on Sept. 24, 2014, issued its final award, pursuant to
which it awarded Daum $33,547,883 plus interest and legal fees.

Daum subsequently commenced an action in the United States District
Court for the Southern District of New York seeking confirmation of
the ICC International Court of Arbitration's Final Award.  On May
6, 2015, the District Court entered a judgment against the Debtor
for $36.6 million.

On Jan. 25, 2016, Daum moved in the District Court to appoint
itself as receiver of the Debtor's 56% ownership interest in Lycos.
The action has been stayed with the filing of the Debtor's
bankruptcy case.

                         About Ybrant Media

Ybrant Media Acquisition, Inc. was incorporated in 2007 and is a
wholly-owned subsidiary of Ybrant Digital Limited, a global digital
marketing company organized under the laws of India, whose shares
are publicly traded on the Bombay Stock Exchange and the National
Stock Exchange of India.  The Debtor was created for the purpose of
purchasing and managing the assets of Internet and media-related
businesses.

Ybrant Media filed a Chapter 11 bankruptcy petition (Bankr.
S.D.N.Y. Case No. 16-10597) on March 14, 2016.  The petition was
signed by Suresh K. Reddy as chief executive officer.  The Debtor
estimated assets in the range of $10 million to $50 million and
liabilities of up to $50 million.  Rosen & Associates, P.C. serves
as the Debtor's counsel.


YBRANT MEDIA: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: Ybrant Media Acquisition, Inc.
        2121 North Frontage Road, No. 326
        Vail, CO 81657

Case No.: 16-10597

Type of Business: Digital Marketing

Chapter 11 Petition Date: March 14, 2016

Court: United States Bankruptcy Court
       Southern District of New York (Manhattan)

Debtor's Counsel: Nancy Lynne Kourland, Esq.
                  ROSEN & ASSOCIATES, P.C.
                  747 Third Avenue
                  New York, NY 10017
                  Tel: (212) 223-1100
                  Fax: (212) 223-1102
                  E-mail: nkourland@rosenpc.com

                     - and -

                  Sanford P. Rosen, Esq.
                  ROSEN & ASSOCIATES, P.C.
                  747 Third Avenue, Floor 20
                  New York, NY 10017-2803
                  E-mail: srosen@rosenpc.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Suresh K. Reddy, chief executive
officer.

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


ZLOOP INC: U.S. Trustee Objects to Plan, Disclosure Statement
-------------------------------------------------------------
Andrew S. Vara, Acting U.S. Trustee for Region 3, complains that
ZLoop, Inc., et al.'s Liquidation Plan contains provision that
render it unconfirmable, including an attempt to obtain third-party
releases in favor of Robert Boston and Robert LaBarge without
seeking affirmative creditor consent, a discharge of the Debtors,
and improper classification.

The U.S. Trustee also complains that the Disclosure Statement omits
any discussion of potential estate claims against Boston or LaBarge
and gives every indication such claims will not be pursued in the
Plan.  The Disclosure Statement does not disclose to creditors how
much they will receive and when, nor does the Disclosure Statement
adequately disclose the values of property subject to secured
claims and the unsecured Mosing claim, the U.S. Trustee asserts.

As previously reported by The Troubled Company Reporter, the U.S.
Trustee, joined by Kendall G. Mosing and ZLOOP LA, LLC, asked the
Bankruptcy Court to immediately convert the Debtors' Chapter 11
cases to cases under Chapter 7 of the Bankruptcy Code, in order to
liquidate the remaining assets, to appoint an independent trustee,
and to pursue claims that exist, including claims that may exist
against the principals of the Debtors.

                     About ZLOOP, Inc.

ZLOOP, Inc., and two affiliates sought Chapter 11 protection
(Bankr. D. Del. Case No. 15-11660) on Aug. 9, 2015.  

ZLOOP operates a proprietary, state of the art, 100% landfill free
eWaste recycling company headquartered in Hickory, North Carolina.

The Debtors tapped DLA Piper LLP as counsel.

As of the Petition Date, the Debtors' unaudited consolidated
balance sheet reflect total assets of approximately $25 million,
including the land and improvements, but excluding certain
commodity inventories that are the output of eWaste recycling, and
total liabilities of approximately $32 million.

On Sept. 2, 2015, the U.S. trustee overseeing the Debtors' Chapter
11 cases appointed Recycling Equipment Inc., E Recycling Systems
LLC and Carolina Metals Group to serve on the official committee of
unsecured creditors.  The committee is represented by Cole Schotz
P.C.

                            *     *     *

Zloop, Inc., et al., filed with the U.S. Bankruptcy Court for the
District of Delaware a Joint Chapter 11 Plan of Liquidation and
accompanying disclosure statement, which contemplate the sale of
substantially all of the Debtors's assets, before, on or following
the Effective Date.


                            *********

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
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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
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available at your local bookstore or through Amazon.com.  Go to
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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
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Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2016.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
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