TCR_Public/160318.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, March 18, 2016, Vol. 20, No. 78

                            Headlines

220 ELM STREET: Case Summary & 20 Largest Unsecured Creditors
3920 PARK AVENUE: Case Summary & 7 Unsecured Creditors
ACCURIDE CORP: Moody's Affirms 'B3' Corporate Family Rating
AIRCASTLE LIMITED: Moody's Raises CFR & Unsec. Debt Rating to Ba1
ARCH COAL: $275-Mil. DIP Financing Has Final Approval

ARCH COAL: Has Final Authority to Sell Receivables
ARCH COAL: Posts $2.9 Billion Net Loss for 2015
ARCH COAL: Taps FTI Consulting as Restructuring Financial Advisor
ARCH COAL: Wants to Hire Davis Polk as Bankruptcy Counsel
ASHLEY I LLC: U.S. Trustee Unable to Appoint Committee

ASHLEY II OF CHARLESTON: U.S. Trustee Unable to Appoint Committee
ATLANTIC & PACIFIC: PBGC Claims Allowed for $295-Mil.
ATLANTIC CITY: NJ Lawmaker Wants Bailout to Preserve CBAs
ATNA RESOURCES: Settles Dispute with Asahi Refining
AUTHENTIDATE HOLDING: Presented at 28th Annual ROTH Conference

AXION INTERNATIONAL: Bayard P.A. Approved as Bankruptcy Counsel
AXION INTERNATIONAL: Committee Taps Morris James as Counsel
AXION INTERNATIONAL: Panel Taps Sandra Mayerson as Lead Counsel
BEAZER HOMES: Completes New $140 Million Secured Term Loan
BELTWAY ONE: Candace C. Clark No Longer Counsel of Record

BLOUNT INTERNATIONAL: S&P Assigns 'B+' CCR, Outlook Negative
BON-TON STORES: Reports Fourth Quarter and Fiscal 2015 Results
BR ENTERPRISES: Court Enters Final Decree Closing Case
BRANTLEY LAND: Has Consent to Access Cash Collateral
BROADVIEW NETWORKS: Incurs $9.79 Million Net Loss in 2015

BROWARD HFA: Moody's Puts 'Ca' Bonds Ratings Under Review
BUFFETS LLC: Hires Akerman as Attorneys
CAESARS ENTERTAINMENT: Parent Disagrees With Examiner's Conclusions
CAESARS ENTERTAINMENT: TPG, Apollo Disagree with Examiner's Report
CAPITOL LAKES: Hires Prime Clerk as Claims and Balloting Agent

CHICAGO, IL: Moody's Affirms Ba1 Rating on $7.7-Bil. GO Bonds
CINEMARK USA: Moody's Gives B2 Unsec. Rating on $225MM Add-on Notes
COCRYSTAL PHARMA: Incurs $50.1 Million Net Loss in 2015
CUI GLOBAL: Reports Q4 and Full Year 2015 Financial Results
CURTIS JAMES JACKSON: 50 Cent Says He's $16-Mil. in the Red

CYTORI THERAPEUTICS: May Issue 5.5M Shares Under Incentive Plans
DALLAS PROTON: Taps Lincoln Harris as Broker for Dallas Property
DEB STORES: Has Until June 4, 2016 to File Ch. 11 Plan
DIOCESE OF GALLUP: Victims Atty. Says Disclosure Essential in Deal
ENERGY & EXPLORATION: US Trustee Says Disclosures Lack Information

ENERGY FUTURE: Enters Into Additional Agreements with KPMG
FEDERAL RESOURCES: Creditor Backs Conversion to Chapter 7
FILENE'S BASEMENT: Resolves Disputes with Former CEO
FILMED ENTERTAINMENT: Has Access to Cash Collateral Until May 31
FORESIGHT ENERGY: Reports $39.5 Million Net Loss for 2015

FOREST PARK MEDICAL CENTER: Schedules Deadline Moved to March 20
FOREST PARK MEDICAL CENTER: Seeks to Move 341 Meeting to April 1
FOREST PARK SOUTHLAKE: Agrees to Offset $318,709 to TCB Collateral
FORTRESS RESOURCES: Court Approves Hicok Fern as Special CPA
FREE GOSPEL: U.S. Trustee Seeks Dismissal of Ch. 11 Case

FREEDOM COMMS: U.S. Seeks to Halt Tribune Deal, Cites Monopoly
FREEDOM COMMUNICATIONS: Court Hearing on Sale to Tribune March 21
FREEDOM COMMUNICATIONS: Tribune Wins Auction With $56M Offer
FREESEAS INC: Special Meeting of Shareholders Set for April 8
FUHU INC: Cooley LLP Approved as Lead Counsel for Committee

FUHU INC: Court Approves Kurtzman Carson as Administrative Agent
FUHU INC: Employs FTI Consulting as Financial Advisors
FUHU INC: Hires Bryan Cave as Bankruptcy Counsel
GINGER OIL: Proposes William G. West as Accountant
GLOBAL PROTECTION: Trustee Can Recover $1.1MM from Susquehanna Bank

GRAHAM GULF: Hires BlackBriar as Financial Advisor
GRASS VALLEY: Plan Filing Exclusivity Extended to May 9
GREAT LAKES PROPERTIES: Corporate Veil Claim Stays in Bankr. Court
GT ADVANCED: Wants Approval of $3.6-Mil. Sale of Merlin Assets
GUIDED THERAPEUTICS: Incurs $9.50 Million Net Loss in 2015

HD SUPPLY: Reports Fiscal 2015 Full-Year and Q4 Results
HORSEHEAD HOLDING: Names Timothy D. Boates of RAS as CRO
HOVNANIAN ENTERPRISES: May Issue Add'l 9.1M Shares Under 2012 Plan
HYDROCARB ENERGY: Incurs $7.07 Million Net Loss in Second Quarter
HYDROCARB ENERGY: Signs $2-Mil. Private Placement Agreement

INTERNATIONAL MANUFACTURING: Trustee Seeks Appointment of Mediator
INTERNATIONAL SUPPLY: $1M DIP Loan from Heartland Approved
INTERNATIONAL SUPPLY: Final Cash Collateral Use Order Entered
JAIRRABRANDY REALTY: Voluntary Chapter 11 Case Summary
JOHN JOHNSON: Court Junks Bid to Convert Case as Ch. 7

JTS LLC: Seeks to Hire Chaobal for Suit v. Nokian Tyres
JTS LLC: U.S. Trustee Seeks Conversion or Dismissal of Ch. 11 Case
LINN ENERGY: Moody's Cuts Corporate Family Rating to 'Ca'
LINN ENERGY: Widens Loss to $4.75-Bil. in 2015, Warns of Bankruptcy
MAGNUM HUNTER: Panel Taps Berkeley Research as Financial Advisor

METROPOLITAN AUTOMOTIVE: Panel Taps A&M as Finc'l. Advisor
METROPOLITAN AUTOMOTIVE: Panel Taps Sidley Austin as Counsel
METROPOLITAN AUTOMOTIVE: Taps SierraConstellation as Fin. Advisor
MOBILE IV SYSTEMS: Case Summary & 3 Unsecured Creditors
MOLYCORP INC: Wants to Pay $70K Pension Plan Contribution

NEOGENIX ONCOLOGY: 2nd Amended Disclosure Statement Approved
NEW GULF RESOURCES: To Hire Grant Thornton as Independent Auditor
NEW LOUISIANA: Can Use Cash Collateral Until April 1
NEWBURY COMMON ASSOCIATES: Court OKs Donlin Recano as Admin Agent
NORANDA ALUMINUM: Annual Report Delayed; Projects Wider Net Loss

NORFE GROUP: Can Hire Carrasquillo as Financial Consultant
NORFE GROUP: Cuprill Firm Approved as Bankruptcy Counsel
NORTH AMERICAN HEALTH: Elder Abuse Claimants Committee Sought
OCWEN FINANCIAL: Moody's Review B2 Ratings for Downgrade
OUTER HARBOR: Presents $1.18-Mil. Employee Incentive Plan

PACIFIC EXPLORATION: Considering Buyout to Avoid Bankruptcy
PEABODY ENERGY: Misses Interest Payment, Raises Bankruptcy Spectre
PICO HOLDINGS: Sean Leder Requests Special Meeting for May 10
PLUG POWER: Incurs $55.7 Million Net Loss in 2015
PRIMROSE LA SARA: U.S. Trustee Unable to Appoint Committee

RED HILLS: Case Summary & 8 Unsecured Creditors
REICHHOLD HOLDINGS: Court OKs Settlement with State of Ohio
RESIDENTIAL CAPITAL: Objection to McNerney's Claims Sustained
RUSSELL-GRADY: U.S. Trustee Unable to Appoint Committee
SEANERGY MARITIME: Reports $8.9 Million Net Loss for 2015

SFX ENTERTAINMENT: Delays Annual Report; Projects Higher Revenues
SFX ENTERTAINMENT: Taps Kaye Scholer as Special Committee Counsel
SHERWIN ALUMINA: Committee Can Hire Andrews Kurth as Counsel
SHERWIN ALUMINA: Huron Consulting Approved as Financial Advisor
SHERWIN ALUMINA: Kirkland & Ellis Okayed as Bankr. Counsel

SHERWIN ALUMINA: Zack A. Clement Okayed as Local Counsel
SPI ENERGY: Head & Shoulders Holds 2.9% of Ordinary Shares
SPORTS AUTHORITY: March 29 Hearing on Sale Timeline, Procedures
STRATA SKIN: Broadfin Capital Reports 9.9% Stake as of March 11
STRATA SKIN: Incurs $27.9 Million Net Loss in 2015

SUNDEVIL POWER: Court Approves $45-Mil. DIP Financing From Beal
SWIFT ENERGY: DIP Lenders to Receive Reorganized Co. Common Stock
TELESAT CANADA: Moody's Affirms 'B1' Corporate Family Rating
TGHI INC: Court Approves Joint Administration of Cases
TRAVELPORT WORLDWIDE: Closes Secondary Offering of Common Shares

TRINITY TOWN: Corner Seeks Court OK to Loan $150,000 to Debtor
TRINITY TOWN: Maynard Luetgert Approved as CRO
USA DISCOUNTERS: Inventory Sold to Harris Originals for $900K
USA DISCOUNTERS: UCC Seeks Standing to Sue Secured Lenders
UTE MESA: FCB Objects to Bid for Ch. 11 Dismissal

VALEANT PHARMA: Fails to File 10-K, Defaults on Covenant
VARIANT HOLDING: Marcus & Millichap Approved as Real Estate Broker
VARIANT HOLDING: Subsidiaries Hire Jefferies as Investment Banker
VISUALANT INC: Gets OK of Certificate of Designations Correction
WAINWRIGHT BROTHERS: U.S. Trustee Unable to Appoint Committee

WBY INC: U.S. Trustee Unable to Appoint Committee
WESTECH CAPITAL: Sec. 341 Creditors' Meeting Set for April 19
WINDSOR FINANCIAL: ASICS Says Plan Patently Unconfirmable
ZOGENIX INC: Posts $26.1 Million Net Income for 2015
[^] BOOK REVIEW: The Rise and Fall of the Conglomerate Kings


                            *********

220 ELM STREET: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: 220 Elm Street II, LLC
        One Atlantic St.
        Stamford, CT 06901

Case No.: 16-10653

Chapter 11 Petition Date: March 17, 2016

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

Judge: Hon. Laurie Selber Silverstein

Debtor's Counsel: Robert S. Brady, Esq.
                  YOUNG, CONAWAY, STARGATT & TAYLOR, LLP
                  1000 North King Street
                  Wilmington, DE 19801
                  Tel: 302-571-6600
                  Fax: 302-571-1253
                  E-mail: rbrady@ycst.com

Debtor's          BEILINSON ADVISORY GROUP
Restructuring
Advisor:


Debtor's          ANCHIN, BLOCK & ANCHIN LLP
Forensic
Accounting
Services
Provider:

Estimated Assets: $100 million to $500 million

Estimated Debts: $100 million to $500 million

The petition was signed by Marc Beilinson, chief restructuring
officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
SPAGS NE LLC                                             $16,778

Tri-Star Services Inc.                                   $10,239

Cranmore Fitzgerald & Meaney                              $3,477

Hoffman Energy                                            $3,245

GDF Suez Energy Resources                                 $1,831

Eversource                                                $1,797   
     
Honor.health@eversource.com

Smith Brothers Insurance                                  $1,720

Law Offices of Patrick W. Boatman                         $1,650

Redniss & Mead, Inc.                                      $1,422

Karp's                                                    $1,374

Cranmore Fitzgerald & Meaney                              $1,137

City Carting & Recycling                                    $886

Professional Carpet Sys.                                    $702

Hoffman Commercial                                          $338

Argus Software Inc.                                         $265

Bureau of Elevators                                         $240

Acquarion Water Company                                     $214

Michael C. Palotta                                          $191

KM Communications Serv                                      $180

Dept of Public Safety                                       $160


3920 PARK AVENUE: Case Summary & 7 Unsecured Creditors
------------------------------------------------------
Debtor: 3920 Park Avenue Associates, L.P.
        237 South Street
        P.O. Box 2049
        Morristown, NJ 07962

Case No.: 16-14923

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: March 16, 2016

Court: United States Bankruptcy Court
       District of New Jersey (Newark)

Judge: Hon. Stacey L. Meisel

Debtor's Counsel: Morris S. Bauer, Esq.
                  NORRIS MCLAUGHLIN & MARCUS, PA
                  PO Box 5933
                  Bridgewater, NJ 08807-5933
                  Tel: (908) 722-0700
                  Fax: 908-722-0755
                  Email: mbauer@nmmlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Lawrence S. Berger, authorized agent.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/njb16-14923.pdf


ACCURIDE CORP: Moody's Affirms 'B3' Corporate Family Rating
-----------------------------------------------------------
Moody's Investors Service changed Accuride Corporation's rating
outlook to negative from stable and affirmed the company's existing
ratings including its B3 Corporate Family Rating (CFR).

The change to a negative rating outlook reflects Moody's view that
challenges in some of Accuride's end markets will pressure the
company's revenue, EBITDA and free cash flow over the next 12-18
months and could impede its ability to refinance existing debt.
Accuride's $100 million asset based revolver and $310 million 9.5%
senior secured notes mature in July and August 2018, respectively.
According to Moody's Analyst Inna Bodeck, "anticipated challenges
in the operating improvement in 2016 create refinancing risk for
Accuride's upcoming maturities."

Moody's affirmed Accuride's ratings because the company's financial
metrics are still in a range appropriate for the B3 rating even
with recent revenue declines and because the company has sufficient
balance sheet cash and availability under its ABL revolving credit
facility to fund its operations. Accuride's restructuring plan
completed in 2014 has enabled it to maintain good operating margins
in the face of declining revenue when compared to previous cyclical
downturns.

Moody's took the following specific actions on Accuride:

Ratings Affirmed:

Corporate Family Rating, at B3

Probability of Default Rating, at B3-PD

Speculative Grade Liquidity Rating, at SGL - 3

$310 million Senior Secured Notes, at B3 (LGD4)

Outlook Actions:

Outlook, Changed to Negative from Stable

RATINGS RATIONALE

Accuride's B3 Corporate Family Rating reflects high customer
concentration, lack of geographic diversification and negative
projected free cash flow. The rating also considers the highly
cyclical nature of Accuride's end markets. Accuride's restructuring
plan completed in 2014 resulted in improved margins and the company
generated positive free cash flow in 2014 and 2015. However,
Accuride's revenue has declined in the last two quarters and the
company faces another challenging year in 2016 due to our
expectations for further declines in the Class 8 truck category.
The rating derives support from the company's good market position
in the North American commercial vehicle wheel market and recent
margin improvement resulting in better debt-to-EBITDA leverage
(4.4x FYE 12/31/2015 incorporating Moody's standard adjustments).

Accuride's liquidity profile is adequate, supported by existing
cash ($29.8 million as of 12/31/2015) and availability under $100
ABL revolving credit facility expiring in July 2018. However, the
company's existing liquidity would not be sufficient to cover
upcoming 2018 debt maturities.

“The negative rating outlook reflects our concern that operating
environment will make it challenging for Accuride to generate
positive free cash flow which could affect its flexibility when
refinancing its existing secured notes.”

Factors that could support a higher rating include continued
improvement in the company's ability to contend with a downturn,
and improvement in operating performance with EBITA margins
approaching 6%, EBITA / interest above 1.5x, debt / EBITDA
reduction, and consistent positive free cash flow generation.

Factors that could result in a lower rating include the company not
staying on track with its operational improvements resulting in a
significant drop in EBITA margins, deterioration in EBITA /
interest, a weakened liquidity profile, or a meaningful loss in
market position.

Accuride Corporation, headquartered in Evansville, Indiana, is a
North American manufacturer and supplier of commercial vehicle
components including wheels, wheel-end components, transmission and
engine related components, in addition to components for use in
industrial equipment. Accuride's sales for 2015 were approximately
$686 million.



AIRCASTLE LIMITED: Moody's Raises CFR & Unsec. Debt Rating to Ba1
-----------------------------------------------------------------
Moody's Investors Service upgraded Aircastle Limited's corporate
family and senior unsecured debt ratings to Ba1. Moody's also
revised Aircastle's rating outlook to stable from positive.

RATINGS RATIONALE

The upgrades reflect the measures Aircastle has taken in the last
five years to improve the risk profile of its aircraft fleet and
strengthen its liquidity, while maintaining a strong capital
position and growing its franchise.

Aircastle has improved the risk characteristics of its fleet by
selling or retiring aircraft that are out of production, that have
aged significantly, or are less in-demand. As a result, the company
has reduced its residual risks, lessening the likelihood of
impairment charges and improving earnings stability. In the past
five years, Aircastle significantly reduced its investment in
freighter aircraft, a sector suffering excess capacity, to 10% of
total fleet net book value from 33%. The company also reduced the
average age of its fleet to 7.5 years from 11.0 years and increased
average remaining lease term to 5.9 years from 4.7 years, which
means that a higher percentage of future rental revenues are
committed, enhancing earnings transparency.

Aircastle has strengthened its liquidity profile by reducing its
reliance on secured funding. By accessing the unsecured debt
markets with multiple issuances in recent years, Aircastle reduced
the proportion of secured debt in its capital structure, reflected
in a decline in the ratio of secured debt/tangible assets to 18%
from 50% five years ago. As a result, unencumbered assets increased
from $0.6 billion to $3.9 billion, and provide about 130%
undiscounted coverage of outstanding unsecured debt. In Moody's
view, the gradual transition of Aircastle's funding toward a
greater proportion of senior unsecured debt has also improved the
company's financial and operational flexibility.

In addition to Aircastle reducing fleet risks, it has also
maintained lower leverage than most peers. Aircastle's ratio of
debt/tangible common equity was 2.2x at December 31, 2015, compared
to a peer average of about 3.1x. Moody's expectation that Aircastle
will continue to exhibit a solid capital profile as it continues to
grow its franchise is a key aspect of the ratings upgrade.
Aircastle grew its fleet net book value by 50% during the past five
years, which strengthens its franchise positioning.

Credit constraints include Aircastle's higher fleet risk
characteristics compared to certain peers notwithstanding recent
improvements, and weaker franchise positioning than certain
competitors that have greater global breadth in terms of aircraft
fleet and airline customers.

Ratings could improve if Aircastle further strengthens liquidity,
achieves a sustainably higher return on managed assets in part by
reducing impairment expense, further strengthens franchise
positioning in the sector, reduces customer concentrations, and
maintains an acceptable capital profile.

Rating could be downgraded if Aircastle's profitability
unexpectedly declines, leverage increases materially above 2.5x or
the company's liquidity runway weakens.

The following ratings were affected by today's action:

Corporate Family Rating: to Ba1 from Ba2

Senior unsecured rating: to Ba1 from Ba2

Senior unsecured shelf: to (P)Ba1 from (P)Ba2

Subordinate shelf: to (P)Ba2 from (P)Ba3

Preferred shelf -- non-cumulative: to (P)B1 from (P)B2

Preference shelf: to (P)Ba3 from (P)B1

Outlook: to stable from positive

Aircastle Limited is a commercial aircraft lessor headquartered in
Stamford, CT, with a $6.0 billion portfolio of flight equipment and
finance leases at December 31, 2015.



ARCH COAL: $275-Mil. DIP Financing Has Final Approval
-----------------------------------------------------
Judge Charles E. Rendlen, III, of the U.S. Bankruptcy Court for the
Eastern District of Missouri, Eastern Division granted Debtors Arch
Coal, Inc., et. al., final approval to use cash collateral and
obtain postpetition financing, in the aggregate principal amount of
$275,000,000, from a syndicate of financial institutions ("DIP
Lenders").

All objections to the Motion with respect to the entry of this
Final Order and motions to reconsider the Interim Order that have
not been withdrawn, waived or settled, and all reservations of
rights included therein, are denied and overruled on the merits.

Objections were filed by the Official Committee of Unsecured
Creditors, Nelson Brothers, LLC and Wyoming Machinery Company.

Ad Hoc Group of Prepetition First Lien Lenders and DIP Lenders
asked the Court to reject an alternative DIP facility proposed by
the Committee.  The Committee said it has a $100 million
alternative DIP facility that is less expensive, less restrictive,
and more responsive to the Debtors' specific needs.

In an effort to reach an accommodation with the Committee, the
First Lien Lenders said they are willing to provide certain
modifications to both the DIP Facility and the adequate protection
package to address certain of the Committee's concerns.  The
Committee, however, rejected these attempts to reach agreement.
Nevertheless, despite the fact that there is no overall settlement
with the Committee, the First Lien Lenders and the DIP Lenders have
agreed with the Debtors, to among others, the following
modifications:

   * Availability Period. The Period for the Debtors to draw under
the DIP Facility will be extended from four months to six months.

   * Minimum Liquidity Covenant: The minimum liquidity level that
the Debtors are required to maintain will be reduced from $575
million to $500 million.

   * RSA Cross-default:  The cross-default in the DIP Facility to a
default by the Debtors under the restructuring support agreement
among the Debtors and certain Prepetition First Lien Lenders will
be removed.

   * Business Plan: The provision in the DIP Facility that the
Debtors' new business plan must be acceptable to the DIP Lenders
will be revised to provide that the new business plan must provide
for the payment in full in cash of all amounts owing under the DIP
Facility.

   * DIP Exculpation: The Final Order will clarify that
exculpations provided to the DIP Agent and the DIP Lenders will not
be available where the DIP Agent and the DIP Lenders have acted
with gross negligence or willful misconduct.

   * Challenge Period: The Challenge period for the Committee to
investigate the liens and claims of and potential causes of action
against the Prepetition First Lien Lenders has been extended from
March 30 to April 30.

   * Investigation Budget: The budget for the Committee to
investigate the liens and claims of and potential causes of action
against the Prepetition First Lien Lenders has been increased from
$50,000 to $250,000.

The Debtors sought approval to enter into a superpriority, priming
lien debtor in possession financing, consisting of a $275 million
delayed draw term loan facility from their existing lenders.
Wilmington Trust, National Association serves as the DIP agent.
The DIP financing will bear an interest rate of LIBOR Rate plus 900
bps (subject to a LIBOR floor of 1.0%) or the Base Rate + 800 bps.
The maturity date of the DIP Facility is January 31, 2017.

The Court's Final DIP Order authorizes the Debtors to use all cash
collateral and the prepetition secured parties are directed
promptly to turn over to the Debtors all cash collateral provided
that they are granted adequate protection.

As of the Petition Date, the Debtors were indebted to the
prepetition lenders in the aggregate principal amount of
$1,886,125,000.  The lenders were granted first-priority liens and
security interests in the Debtors' personal and real property.  

A full-text copy of the Final DIP Order dated February 25, 2016, is
available at http://is.gd/qpxmJ2

The DIP Lenders and the Ad Hoc Group of Prepetition First Lien
Lenders are represented by:

          Mark V. Bossi, Esq.
          THOMPSON COBURN LLP
          One US Bank Plaza
          St. Louis, MO 63101
          Telephone: (314)552-6000
          Facsimile: (314)552-7000
          E-mail: mbossi@thompsoncoburn.com

                 - and -

          Brian S. Hermann, Esq.
          Sarah Harnett, Esq.
          PAUL, WEISS, RIFKIND, WHARTON &
          GARRISON LLP
          1285 Avenue of the Americas
          New York, NY 10019
          Telephone: (212)373-3000
          Facsimile: (212)757-3990
          E-mail: bhermann@paulweiss.com
                 sharnett@paulweiss.com

                 - and -

          Mark F. Liscio, Esq.
          Scott D. Talmadge, Esq.
          KAYE SCHOLER LLP
          250 W. 55th Street
          New York, NY 10019
          Telephone: (212)836-8000
          Facsimile: (212)836-6540
          E-mail: mark.liscio@kayescholer.com
                 scott.talmadge@kayescholer.com

                 - and -

          Michael D. Messersmith, Esq.
          Seth J. Kleinman, Esq.
          KAYE SCHOLER LLP
          Three First National Plaza
          70 West Madison Street, Suite 4200
          Chicago, IL 60602
          Telephone: (312)583-2300
          Facsimile: (312)583-2360
          E-mail: michael.messersmith@kayescholer.com
                 seth.kleinman@kayescholer.com

Nelson Brothers, LLC is represented by:

          Daniel D. Sparks
          CHRISTIAN & SMALL LLP
          1800 Financial Center
          505 North 20th Street
          Birmingham, AL 35203
          Telephone: (205)795-6588
          E-mail: ddsparks@csattorneys.com

                      About Arch Coal, Inc.

Founded in 1969, Arch Coal, Inc., is a producer and marketer of
coal in the United States, with operations and coal reserves in
each of the major coal-producing regions of the Country.  As of
January 2016, it was the second-largest holder of coal reserves in
the United States, owning or controlling over five billion tons of
proven and probable reserves.  As of the Petition Date, Arch
employed approximately 4,600 full- and part-time employees.

Arch Coal, Inc. and 71 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. E.D. Mo. Case Nos. 16-40120 to
16-40191) on Jan. 11, 2016.  The petition was signed by Robert G.
Jones as senior vice president-law, general counsel and secretary.

The Debtors disclosed total assets of $5.84 billion and total
debts
of $6.45 billion.  Judge Charles E. Rendlen III has been assigned
the case.

The Debtors have engaged Davis Polk & Wardwell LLP as counsel,
Bryan Cave LLP as local counsel, FTI Consulting, Inc. as
restructuring advisor, PJT Partners as investment banker, and
Prime
Clerk LLC as notice, claims and solicitation agent

The Official Committee of Unsecured Creditors tapped Spencer Fane
LLP and Kramer Levin Naftalis & Frankel LLP as attorneys.


ARCH COAL: Has Final Authority to Sell Receivables
--------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Missouri
granted final authority for Arch Coal, Inc. and its
debtor-subsidiaries to sell certain receivables.

The Court authorized certain Debtors to enter into, continue
selling, contributing and servicing certain trade receivables
(including collections, proceeds and other related interests), and
perform under the (i) Second Amended and Restated Receivables
Purchase Agreement among Arch Receivable Company, LLC, as Seller,
Arch Coal Sales, Inc. as initial Servicer, the various Conduit
Purchasers, Related Committed Purchasers, LC Participants and
Purchaser Agents, PNC Bank, National Association, as Administrator
and LC Bank; (ii) the Amended and Restated Purchase and Sale
Agreement among the Originators and Arch Coal, Inc.; and (iii) the
Amended and Restated Sale and Contribution Agreement between Arch
Coal, Inc. and Arch Receivable.

Judge Charles E. Rendlen III also authorized:

   * Arch Coal, Inc., the Servicer and the other Debtors, as
     applicable, to enter into and perform under each of the
     other instruments and agreements related to the
     securitization facility contemplated by the Receivables
     Agreements;

   * Arch Coal, Inc. to cause its wholly owned non-debtor
     subsidiary, Arch Receivable, to perform under the
     Financing Agreements to which Arch Receivable is a party;
     and

   * the Servicer and each of the Originators to assume, and
     approving the assumption of, the Financing Agreements.

Pursuant to Section 364(c)(1) of the Bankruptcy Code, the Court
grants Arch Receivable, the Administrator and the Securitization
Purchasers priority in payment with respect to the obligations of
the Servicer and the Originators under the Financing Agreements
over any and all administrative expenses other than with respect to
the DIP Superpriority Claims and the Fees Carve-Out and the Bonding
Carve-Out.

A full-text copy of the Final Order is available for free at
http://bankrupt.com/misc/ArchCoal_FinalOrder_ReceivablesSale.pdf

                         About Arch Coal

Founded in 1969, Arch Coal, Inc., is a producer and marketer of
coal in the United States, with operations and coal reserves in
each of the major coal-producing regions of the Country.  As of
January 2016, it was the second-largest holder of coal reserves in
the United States, owning or controlling over five billion tons of
proven and probable reserves.  As of the Petition Date, Arch
employed approximately 4,600 full- and part-time employees.

Arch Coal, Inc. and 71 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. E.D. Mo. Case Nos. 16-40120 to
16-40191) on Jan. 11, 2016.  The petition was signed by Robert G.
Jones as senior vice president-law, general counsel and secretary.

The Debtors disclosed total assets of $5.84 billion and total debts
of $6.45 billion.  Judge Charles E. Rendlen III has been assigned
the case.

The Debtors have engaged Davis Polk & Wardwell LLP as counsel,
Bryan Cave LLP as local counsel, FTI Consulting, Inc. as
restructuring advisor, PJT Partners as investment banker, and Prime
Clerk LLC as notice, claims and solicitation agent

The Official Committee of Unsecured Creditors tapped Spencer Fane
LLP and Kramer Levin Naftalis & Frankel LLP as attorneys.


ARCH COAL: Posts $2.9 Billion Net Loss for 2015
-----------------------------------------------
Arch Coal, Inc. filed with the Securities and Exchange Commission
its Annual Report on Form 10-K for the fiscal year ended December
31, 2015.

Arch Coal reported a wider net loss of $2,913,142,000 for 2015,
from $558,353,000 for 2014, and $641,832,000 for 2013.

Revenues were down to $2,573,260,000 for 2015, from $2,937,119,000
for 2014, and $3,014,357,000 for 2013.

At Dec. 31, 2015, the Company had total assets of $5,106,738,000
against total liabilities of $6,351,027,000 and total stockholders'
deficit of $1,244,289,000.

A copy of the Annual Report is available at http://is.gd/Onlcgf

                         About Arch Coal

Founded in 1969, Arch Coal, Inc., is a producer and marketer of
coal in the United States, with operations and coal reserves in
each of the major coal-producing regions of the Country.  As of
January 2016, it was the second-largest holder of coal reserves in
the United States, owning or controlling over five billion tons of
proven and probable reserves.  As of the Petition Date, Arch
employed approximately 4,600 full- and part-time employees.

Arch Coal, Inc. and 71 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. E.D. Mo. Case Nos. 16-40120 to
16-40191) on Jan. 11, 2016.  The petition was signed by Robert G.
Jones as senior vice president-law, general counsel and secretary.

The Debtors disclosed total assets of $5.84 billion and total
debts
of $6.45 billion.  Judge Charles E. Rendlen III has been assigned
the case.

The Debtors have engaged Davis Polk & Wardwell LLP as counsel,
Bryan Cave LLP as local counsel, FTI Consulting, Inc. as
restructuring advisor, PJT Partners as investment banker, and
Prime Clerk LLC as notice, claims and solicitation agent

The Official Committee of Unsecured Creditors tapped Spencer Fane
LLP and Kramer Levin Naftalis & Frankel LLP as attorneys.


ARCH COAL: Taps FTI Consulting as Restructuring Financial Advisor
-----------------------------------------------------------------
Arch Coal, Inc., et al., ask the U.S. Bankruptcy Court for the
Eastern District of Missouri for permission to employ FTI
Consulting, Inc., as restructuring financial advisor nunc pro tunc
to the Petition Date.

Pursuant to the engagement letter dated Sept. 2, 2015, FTI will:

   a) meet with key management to discuss the Debtors' current
operations and liquidity position;

   b) develop an understanding of the Debtors' current operations,
working capital and liquidity;

   c) review the Debtors':

      i. current financial position and financial forecasts;
     ii. projected cash flows and related processes;
    iii. assumptions related to the future operating parameters
         reflected in the forecasts;
     iv. bonding and reclamation obligations;
      v. workers' compensation and black lung obligations;
     vi. permitting and related fees;
    vii. lease and royalty agreements and minimum royalty
         requirements;
   viii. coal reserves; and,
     ix. life of mine plans/models.

   d) assist the Debtors, together with other professionals, in
developing a longterm business plan and related financial
projections;

   e) develop a detailed approach to preparing the Debtors for the
chapter 11 cases in the most cost effective and efficient manner
possible and assist the Debtors in implementing such plan,
including:

      i. preparation of bankruptcy petitions, related documents,
         various motions and other support as requested by the
         Debtors and their counsel;
     ii. preparation of the statements of financial affairs,
         schedules, monthly operating reports and other regular
         reports required in such proceedings; and
    iii. developing accounting procedures and controls to meet the
         requirements of such proceedings.

   f) Develop and implement a 13-week cash flow forecast;

   g) coordinate the Debtors' resources dedicated to the above
initiatives;

   h) assist the Debtors with identifying, assessing and
potentially implementing procedures to control and conserve working
capital;

   i) assist in preparation of financial information, as directed,
for distribution to various constituencies;

   j) attend meetings and assist in discussions with potential
investors, lenders, ad hoc committee(s), other parties-in-interest
and professionals retained by the same, as requested;

   k) assist in negotiations among the Debtors and their creditors,
suppliers, lessors and other interested parties;

   l) assist with the development of a plan of reorganization,
disclosure statement and all appropriate bankruptcy filings
necessary to obtain approval and effectuate the plan of
reorganization; and

   m) perform other customary services typical for an engagement of
this type as may be mutually agreed to by the Debtors and FTI from
time to time.

Specifically, the advisor will carry out unique functions and will
use reasonable efforts to coordinate with the Debtors' other
retained professionals to avoid unnecessary duplication of
services.

The Debtors agreed to pay FTI according to these fee structure:

   a) Hourly Rates.  The hourly rates for services to be rendered
by FTI are:

         Title                                  Hourly Rate
         -----                                  -----------
         Senior Managing Directors              $800 – $975
         Directors/Managing Directors           $645 – $795
         Consultants/Senior Consultants         $355 – $575
         Administrative/Paraprofessionals       $125 – $250

The Engagement Leaders and, if necessary, any replacement
Engagement Leader(s) will be invoiced at 80% of their standard
hourly rates.  Other FTI employees will be invoiced at their
standard and customary rates.

FTI will also bill for reasonable direct expenses that are likely
to be incurred on the Debtors' behalf during their engagement.

As of the Petition Date, FTI received, and continues to hold,
unapplied advance payments from the Debtors in the amount of
approximately $339,658.  The Debtors and FTI have agreed that FTI
may, but is not directed to, apply the cash on account if and to
the extent necessary to pay any allowed fees, costs and expenses
relating to services rendered by FTI.

Alan Boyko, a managing director of FTI assures the Court that FTI
is a "disinterested person" as that term is defined in Section
101(14) of the Bankruptcy Code.

FTI may be reached at:

         Alan Boyko
         Managing Director
         FTI CONSULTING INC
         T: +1 303 689 8800
         F: +1 303 689 8803
         Email: alan.boyko@fticonsulting.com

                          About Arch Coal

Founded in 1969, Arch Coal, Inc., is a producer and marketer of
coal in the United States, with operations and coal reserves in
each of the major coal-producing regions of the Country.  As of
January 2016, it was the second-largest holder of coal reserves in
the United States, owning or controlling over five billion tons of
proven and probable reserves.  As of the Petition Date, Arch
employed approximately 4,600 full- and part-time employees.

Arch Coal, Inc. and 71 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. E.D. Mo. Case Nos. 16-40120 to
16-40191) on Jan. 11, 2016.  The petition was signed by Robert G.
Jones as senior vice president-law, general counsel and secretary.

The Debtors disclosed total assets of $5.84 billion and total debt
of $6.45 billion.  Judge Charles E. Rendlen III has been assigned
the case.

The Debtors have engaged Davis Polk & Wardwell LLP as counsel,
Bryan Cave LLP as local counsel, FTI Consulting, Inc. as
restructuring advisor, PJT Partners as investment banker, and
Prime Clerk LLC as notice, claims and solicitation agent.


ARCH COAL: Wants to Hire Davis Polk as Bankruptcy Counsel
---------------------------------------------------------
Arch Coal, Inc., et al., ask the  U.S. Bankruptcy Court for the
Eastern District of Missouri for permission to employ Davis Polk &
Wardwell LLP as counsel nunc pro tunc to the Petition Date.

Davis Polk will:

   a) prepare on behalf of the Debtors all necessary or appropriate
motions, applications, answers, orders, reports and other papers in
connection with the administration of the Debtors' estates;

   b) counsel the Debtors with regard to their rights and
obligations as debtors-in-possession and their powers and duties in
the continued management and operation of their businesses and
properties;

   c) provide advice, representation and preparation of necessary
documentation and pleadings and to take all necessary or
appropriate actions in connection with debt restructuring,
statutory bankruptcy issues, postpetition financing, strategic
transaction, securities laws, real estate, employee benefits,
environmental, business and commercial litigation, and corporate
and tax matters;

   d) take all necessary or appropriate actions to protect and
preserve the Debtors' estates, including the prosecution of actions
on the Debtors' behalf, the defense of any actions commenced
against the Debtors, the negotiation of disputes in which the
Debtors are involved and the preparation of objections to claims
filed against the Debtors' estates;

   e) take all necessary or appropriate actions in connection with
any chapter 11 plan, all related disclosure statements and all
related documents and such further actions as may be required in
connection with the administration of the Debtors' estates; and

   f) act as general bankruptcy counsel for the Debtors and to
perform all other necessary or appropriate legal services in
connection with the chapter 11 cases.

Brian M. Resnick, a partner of Davis Polk, tells the Court that for
the services rendered by his firm, the Debtors propose to pay Davis
Polk at rates that reflect a negotiated discount from the rates
that Davis Polk customarily charges other clients for work of this
type and to reimburse Davis Polk according to its customary
reimbursement policies.  

As of the Petition Date, Davis Polk held a retainer in the
approximate amount of $750,000 and was not a creditor of the
Debtors.  The Debtors and Davis Polk have agreed that Davis Polk
may, but is not directed to, apply the advance payment retainer if
and to the extent necessary to pay any allowed fees, costs and
expenses relating to services rendered by Davis Polk.

The Debtors will also reimburse reasonable and necessary expenses,
it is Davis Polk's policy to charge its clients for certain
expenses incurred in connection with providing certain client
services.

To the best of the Debtors' knowledge, Davis Polk and its
professionals are "disinterested" as that term is defined in
section 101(14) of the Bankruptcy Code.

Davis Polk also intends to make reasonable efforts to comply with
the Office of the U.S. Trustee for Region 13's requests for
information and additional disclosures as set forth in the
Guidelines for Reviewing Applications for Compensation and
Reimbursement of Expenses Filed under 11 U.S.C. Section 330 by
Attorneys in Larger Chapter 11 Cases Effective Nov. 1, 2013, in
connection with the interim and final fee applications to be filed
by Davis Polk in the chapter 11 cases.

                          About Arch Coal

Founded in 1969, Arch Coal, Inc., is a producer and marketer of
coal in the United States, with operations and coal reserves in
each of the major coal-producing regions of the Country.  As of
January 2016, it was the second-largest holder of coal reserves in
the United States, owning or controlling over five billion tons of
proven and probable reserves.  As of the Petition Date, Arch
employed approximately 4,600 full- and part-time employees.

Arch Coal, Inc. and 71 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. E.D. Mo. Case Nos. 16-40120 to
16-40191) on Jan. 11, 2016.  The petition was signed by Robert G.
Jones as senior vice president-law, general counsel and secretary.

The Debtors disclosed total assets of $5.84 billion and total debt
of $6.45 billion.  Judge Charles E. Rendlen III has been assigned
the case.

The Debtors have engaged Davis Polk & Wardwell LLP as counsel,
Bryan Cave LLP as local counsel, FTI Consulting, Inc. as
restructuring advisor, PJT Partners as investment banker, and
Prime Clerk LLC as notice, claims and solicitation agent.


ASHLEY I LLC: 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 Ashley I, LLC.

Ashley I, LLC sought protection under Chapter 11 of the Bankruptcy
Code in the U.S. Bankruptcy Court for the District of South
Carolina (Charleston) (Case No. 16-00559) on February 8, 2016. The
petition was signed by Prodel, LLC manager.

The Debtor is represented by William McCarthy, Jr., Esq., William
Harrison Penn, Esq., and Daniel J. Reynolds, Jr., Esq., at McCarthy
Law Firm, LLC. The case is assigned to Judge David R. Duncan.

The Debtor disclosed total assets of $5.17 million and total debts
of $18.71 million.


ASHLEY II OF CHARLESTON: 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 Ashley II of Charleston, LLC.

Ashley II of Charleston, LLC, sought protection under Chapter 11 of
the Bankruptcy Code in the U.S. Bankruptcy Court for the District
of South Carolina (Charleston) (Case No. 16-00560) on February 8,
2016. The petition was signed by Prodel, LLC, manager.

The Debtor is represented by William McCarthy, Jr., Esq., William
Harrison Penn, Esq., and Daniel J. Reynolds, Jr., Esq., at McCarthy
Law Firm, LLC. The case is assigned to Judge David R. Duncan.


ATLANTIC & PACIFIC: PBGC Claims Allowed for $295-Mil.
-----------------------------------------------------
The Great Atlantic & Pacific Tea Company, Inc., and its debtor
affiliates ask the U.S. Bankruptcy Court for the District of
Delaware to approve a stipulation resolving Pension Benefit
Guaranty Corporation's claims.

PBGC administers the pension insurance program under Title IV of
the Employee Retirement Income Security Act of 1974.  The Title IV
termination insurance program covers the following three pension
plans: (i) The Great Atlantic & Pacific Tea Company, Inc. Pension
Plan (the "A&P Plan"); (ii) Pathmark Stores, Inc. Pension Plan (the
"Pathmark Plan"); and (iii) Delaware County Dairies, Inc. Hourly
Employees Pension Plan (the "Delaware Plan").

PBGC has filed numerous proofs of claim against the Debtors arising
from terminated premiums.  On December 14, 2015, the Debtors filed
Notices of Intent to Terminate on PBGC Form 600 and thereby
commenced distress terminations of the A&P Plan and the Pathmark
Plan.  On January 20, 2016, PBGC issued a Notice of Determination
that the Pension Plans will be unable to pay benefits when due and
that the Pension Plans should be terminated.

Under the stipulation, PBGC agrees to not seek recovery on the
Termination Premium Claims or recovery of any of the claims
asserted therein against the Debtors, any reorganized Debtors, or
any other party.  PBGC withdrew with prejudice the Termination
Premium Claims and Flat-Rate and Variable-Rate Premiums Claims
filed against the Debtors.

Each of the Unfunded Benefit Liabilities Claims will be allowed as
a general unsecured non-priority claim in the amount listed
directly below:

   Claim   Allowed Amount
   -----   --------------
   6377          $100,000
   9051      $109,400,000
   9073      $182,300,000

The Minimum Funding Contributions Claims for the A&P Plan asserted
in claim number 9059 is reduced and allowed as an administrative
expense in the amount of $3,563,264, to be treated consistently
with other claims for deferred administrative expenses. PBGC will
not file any motion to compel payment of the allowed
amount of such claim.

PBGC agrees to waive any and all claims against the Debtors arising
out and relating to the Pension Plans and withdraws those claims
with prejudice. For the avoidance of doubt, this includes all
claims asserted by PBGC in the proofs of claim numbered: 5010,
6205, 6249, 6265, 6274, 6300, 6302, 6320, 6368, 6388, 6520, 7255,
9052, and 9066.

The Debtors are represented by Ray C. Schrock, P.C., and Garrett A.
Fail, Esq., at Weil, Gotshal & Manges LLP, in New York.

PBGC is represented by:

          Israel Goldowitz, Chief Counsel
          Charles L. Finke, Deputy Chief Counsel
          Lori A. Butler, Assistant Chief Counsel
          Thea D. Davis, Attorney
          Damarr M. Butler, Attorney
          1200 K Street, N.W.
          Washington, D.C. 20005
          Telephone: (202) 326-4020 ext. 6883

                      About Atlantic & Pacific

Based in Montvale, New Jersey, The Great Atlantic & Pacific Tea
Company, Inc., and its affiliates are one of the nation's oldest
leading supermarket and food retailers, operating approximately
300
supermarkets, beer, wine, and liquor stores, combination food and
drug stores, and limited assortment food stores across six
Northeastern states.  The primary retail operations consist of
supermarkets operated under a variety of well known trade names,
or
"banners," including A&P, Waldbaum's, SuperFresh, Pathmark, Food
Basics, The Food Emporium, Best Cellars, and A&P Liquors.  The
Company employs approximately 28,500 employees, over 90% of whom
are members of one of twelve local unions whose members are
employed by the Debtors under the authority of 35 separate
collective bargaining agreements.

Then with 429 stores, A&P and its affiliates filed Chapter 11
petitions (Bankr. S.D.N.Y. Case No. 10-24549) on Dec. 12, 2010,
and
in 2012 emerged from Chapter 11 bankruptcy as a privately held
company with 320 supermarkets.

On July 19, 2015, with 300 stores, A&P and 20 affiliated debtors
each filed a Chapter 11 petition (Bankr. S.D.N.Y.) after reaching
deals for the going concern sales of 120 stores.  The Debtors are
seeking joint administration under Case No. 15-23007.

As of Feb. 28, 2015, the Debtors reported total assets of $1.6
billion and liabilities of $2.3 billion.

The Debtors tapped Weil, Gotshal & Manges LLP as counsel, Evercore
Group L.L.C., as investment banker, FTI Consulting, Inc., as
financial advisor, Hilco Real Estate, LLC, as real estate advisor,
and Prime Clerk LLC, as claims and noticing agent.

Judge Robert D. Drain of the U.S. Bankruptcy Court for the
Southern
District of New York issued an order directing joint
administration
of the Chapter 11 cases of The Great Atlantic & Pacific Tea
Company, Inc., and its debtor affiliates under lead case no.
15-23007.


ATLANTIC CITY: NJ Lawmaker Wants Bailout to Preserve CBAs
---------------------------------------------------------
Jeannie O'Sullivan at Bankruptcy Law360 reported that New Jersey
Assembly Speaker Vincent Prieto denounced a provision of the
proposed Atlantic City bailout legislation that would put the state
in control of union contracts, arguing that the collective
bargaining rights of police, firefighters and others need to be
respected.

In a statement March 2, 2016, the Bergen County Democrat targeted
the legislation formalized in February in two bills that would
allow the beleaguered resort town -- which is buckling under a
struggling gaming market and successful tax appeals -- to mostly
retain its monetary decision-making authority, but let the local
finance board take control as necessary.

One of the bills, the Municipal Stabilization and Recovery Act,
would in part give the director of the Division of Local Government
Services in the New Jersey Department of Community Affairs the
power to unilaterally modify, amend or terminate collective
negotiations or the terms and conditions of employment for public
union employees, except those employed by school districts, as long
as the changes are related to stabilization efforts.  The director
can also act on behalf of a struggling municipality with respect to
the union contracts, according to the bill.

Mr. Prieto said the state already has intervention power through
the Local Government Supervision Act of 1947 and authority through
the transitional state aid program to compel financial actions by
the city.  

"Everyone knows Atlantic City needs help, but we cannot do so while
trampling collective bargaining rights," Mr. Prieto said.


ATNA RESOURCES: Settles Dispute with Asahi Refining
---------------------------------------------------
The U.S. Bankruptcy Court for the District of Colorado approved a
stipulation settling the dispute between Atna Resources, Inc., et
al., and Asahi Refining USA Inc.

Prior to the Petition Date, Debtors Atna Resources, Inc. and CR
Briggs Corporation entered into a refining agreement with Asahi,
pursuant to which Asahi agreed to refine silver and gold Dore to be
delivered by the Contract Debtors to Asahi.  As of the Petition
Date, the Contract Debtors owed Asahi a prepetition amount of
$15,056.17 for unpaid refining services under the Refining
Agreement.

Pursuant to the Stipulation, Asahi will be permitted to withhold a
portion of the Petition Date Contract Debtors Material having a
value in the total amount of $15,056.17 (as of the date of the
withholding), in full and final satisfaction of any and all
prepetition claims that Asahi has or may have against the Debtors
or their estates, including without limitation, the Prepetition
Debt and any amounts scheduled by the Debtors.

In addition, pursuant to the Stipulation, Asahi will immediately
release to the Contract Debtors the remainder of the Petition Date
Contract Debtors Material in the approximate value of $30,443.80,
provided that the amount will be adjusted based on the market value
of the gold and silver held upon the net settlement (as of the date
of the release).

The Debtors are represented by:

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

Asahi is represented by:

          Bruce H. White, Esq.
          PARSONS BEHLE & LATIMER
          201 South Main Street, Suite 1800
          Salt Lake City, UT 84111
          Phone: (801) 532-1234
          Email: bwhite@parsonbehle.com

                        About Atna Resources

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

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

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

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

The Debtor disclosed total assets of $1,224,216 plus an unknown
amount and total liabilities of $113,262,368 as of the Chapter 11
filing.

Squire Patton Boggs (US) LLP serves as counsel to the Debtors.
Maxit Capital LP serves as investment banker, while Ernst & Young
LLP serves as financial advisor and consultant.  Upshot Services
LLC serves as claims, noticing and balloting agent.

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


AUTHENTIDATE HOLDING: Presented at 28th Annual ROTH Conference
--------------------------------------------------------------
Authentidate Holding Corp., participated in the 28th Annual ROTH
Conference on Wednesday, March 16, 2016, at 9:00 a.m. PT.  The
Company discussed about, among other things, investor highlights,
key management, market overview, products, growth strategy, and
financial results.  A copy of the slide presentation used at the
conference is available for free at http://is.gd/zhDeRr

                       About Authentidate

Authentidate Holding Corp. and its subsidiaries provide secure
web-based revenue cycle management applications and telehealth
products and services that enable healthcare organizations to
increase revenues, improve productivity, reduce costs, coordinate
care for patients and enhance related administrative and clinical
workflows and compliance with regulatory requirements.  The
Company's web-based services are delivered as Software as a Service
(SaaS) to its customers interfacing seamlessly with billing,
information and document management systems.  These solutions
incorporate multiple features and security technologies such as
business-rules based electronic forms, intelligent routing,
transaction management, electronic signatures, identity
credentialing, content authentication, automated audit trails and
remote patient management capabilities.  Both web and fax-based
communications are integrated into automated, secure and trusted
workflow solutions.

Authentidate reported a net loss of $9.7 million on $3.68 million
of total revenues for the year ended June 30, 2015, compared to a
net loss of $7.14 million on $5.55 million of total revenues for
the year ended June 30, 2014.

EisnerAmper LLP, in New York, New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended June 30, 2015, citing that the Company's recurring losses
from operations and negative cash flows from operations raise
substantial doubt about its ability to continue as a going concern.


As of Dec. 31, 2015, Authentidate had $3.41 million in total
assets, $9.55 million in total liabilities and a $6.14 million
total shareholders' deficit.


AXION INTERNATIONAL: Bayard P.A. Approved as Bankruptcy Counsel
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Axion International, Inc., et al., to employ Bayard, P.A. as
counsel nunc pro tunc to Dec. 2, 2015.

Bayard is expected to, among other things:

   a. assist the Debtors with preparation of all applications,
motions, answers, orders, reports, and other legal papers necessary
to the administration of the Debtors' estates;

   b. negotiate, draft, pursue and assist the Debtors in their
preparation of all documents, reports, and papers necessary for the
administration of the Chapter 11 cases; and

   c. provide legal advice with respect to the powers and duties of
the Debtors as debtors-in-possession in the cases in the continued
operation of their business and management of their
property, including with respect to a potential sale of the
Debtors' assets.

Bayard will charge the Debtors based on its regular hourly rates
as:

        Directors                             $500 - $950
        Associates and Counsel                $295 - $450
        Legal Assistants                      $240 - $295

The principal attorneys and paralegal to represent the Debtors and
their current standard hourly rates are:

        Scott D. Cousins                         $675
        Justin R. Alberto                        $450
        Larry Morton, paralegal                  $295

The Debtors engaged Bayard as bankruptcy counsel before the
Petition Date.  On Nov. 18, 2015, the Debtors paid Bayard a
retainer of $40,000.  On Nov. 24, 2015, the Debtors paid Bayard a
second retainer of $60,000.  Prior to the Petition Date, Bayard
applied $100,000 of the retainers in satisfaction of fees and
expenses incurred.  Bayard wrote off $17,179 in connection with
prepetition professional services rendered to the Debtors. After
application of amounts for any additional prepetition professional
Services and related expenses, no portion of the retainers remains
to be held by Bayard as security for postpetition services and
expenses.  As of the Petition Date, Bayard was not owed any amounts
by the Debtors in respect of services provided by Bayard prior to
the Petition Date.

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

                          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: Committee Taps Morris James as Counsel
-----------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Axion International, Inc., et al., asks the U.S.
Bankruptcy Court for the District of Delaware for permission to
retain Morris James LLP as its counsel nunc pro tunc to Dec. 14,
2015.

Morris James will, among other things:

   a. provide legal advice and assistance to the Committee in its
consultations with the Debtors relative to the Debtors'
administration of its reorganization;

   b. review and analyze all applications, motions, orders,
statements of operations and schedules filed with the Court by the
Debtors or third parties, advise the Committee as to their
propriety, and, after consultation with the Committee, take
appropriate action; and

   c. prepare necessary applications, motions, answers, orders,
reports and other legal papers on behalf of the Committee;

Morris James will be paid on an hourly basis, plus reimbursement of
actual, necessary expenses and other charges incurred in relation
to the services.

The principal attorneys and paralegals expected to represent the
Committee are:

         Individual Position                     Hourly Rate
         -------------------                     -----------
         Brett D. Fallon, partner                   $640
         Eric J. Monzo, partner                     $450
         William W. Weller, paralegal               $235

To the best of the Committee's knowledge, Morris James is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code.

The firm may be reached at:

         Brett D. Fallon, Esq.
         Eric J. Monzo, Esq.
         MORRIS JAMES
         500 Delaware Avenue, Suite 1500
         PO Box 2306
         Wilmington, DE 19899-2306
         Tel: 302.888.6800
         Fax: 302.571.1750
         Email: bfallon@morrisjames.com
                emonzo@morrisjames.com

                          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: Panel Taps Sandra Mayerson as Lead Counsel
---------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Axion International, Inc., et al. asks the U.S. Bankruptcy
Court for the District of Delaware for permission to retain the Law
Offices of Sandra Mayerson as lead counsel, nunc pro tunc to Dec.
14, 2015.

The firm will, among other things:

   a. provide legal advice with respect to rights and duties of the
Committee in the cases;

   b. analyze all information and pleadings filed by the Debtors,
developing strategy for the Committee based thereon, and
negotiating with the Debtors and third parties for the purpose of
preserving the rights of and maximizing the return to unsecured
creditors; and

   c. assist the Committee with preparation of all applications,
motions, answers, orders, reports, and other legal papers necessary
in order to effectively preserve the rights of the various
creditors.

The firm intends to charge the Committee for its services as
counsel based on its regular hourly rates, which are currently as:

         Partners                           $500
         Associates and Counsel          $200 – 300

The principal attorneys assigned to represent the Committee and
their standard hourly rates for 2015 are:

         Sandra E. Mayerson                 $500
         Allan Schnall                      $250

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

The firm can be reached at:

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

                          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.


BEAZER HOMES: Completes New $140 Million Secured Term Loan
----------------------------------------------------------
Beazer Homes USA, Inc. disclosed in a regulatory filing with the
Securities and Exchange Commission that it entered into a credit
agreement with the lenders party thereto and Wilmington Trust,
National Association, as Agent, providing for a $140 million,
two-year secured term loan.  The proceeds from the Term Loan,
together with borrowings under the Company's existing revolving
credit facility, were used to fund the redemption of the Company's
8.125% senior notes due 2016.

The Term Loan is secured with a second-priority security interest
on a pari passu basis with the collateral securing the Company's
Senior Secured Notes due 2018.  The Term Loan will amortize with
equal quarterly principal payments and carries a floating interest
rate based on the London Interbank Offered Rate (LIBOR) plus 550
basis points.  MCS Capital Markets, an affiliate of KKR Capital
Markets, acted as sole lead arranger for this transaction.

"We remain committed to retiring approximately $100 million of debt
in fiscal 2016.  The Term Loan provides the flexibility to reduce
our debt on a pace more in line with the seasonal cash generation
of our business," said Bob Salomon, Beazer Homes executive vice
president and chief financial officer.  Mr. Salomon further noted,
"We continue to pursue a balanced growth approach, as we progress
toward our "2B-10" goals while simultaneously reducing debt."

                       About Beazer Homes

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

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

                           *     *     *

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

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

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


BELTWAY ONE: Candace C. Clark No Longer Counsel of Record
---------------------------------------------------------
Candace C. Clark, Esq., received approval of her ex parte motion
requesting her withdrawal as counsel of record on behalf of Beltway
One Development Group LLC and the removal of her name from the
CM/ECF service list in Beltway One's Chapter 11 case.  Ms. Clark
previously appeared in the case when she was affiliated with the
law firm Gordon Silver.  Ms. Clark said Feb. 17, 2016, that though
she has not been affiliated with that firm since May 15, 2015, her
name remains listed as an attorney of record of the Debtor.  Ms.
Clark, who is now with the law firm of Clark Hill, PLC, obtained
approval of her motion to correct the record on Feb. 22, 2016.

Ms. Clarke can be reached at:

         Candace C. Clark, Esq.
         Associate
         CLARK HILL, PLC
         150 N. Michigan Avenue, Suite 2700
         Chicago, Illinois 60601
         Tel: (312) 517-7504
         Fax: (312) 985-5999
         E-mail: cclark@clarkhill.com

                       About Beltway One

Four related Las Vegas, Nevada-based entities sought Chapter 11
bankruptcy protection on July 13, 2011.  The businesses are owned
or managed by local business people and firms, including Todd
Nigro, Nigro Development LLC, a Nigro family trust and other
investors.

Horizon Village Square LLC (Bankr. D. Nev. Case No. 11-21034) owns
the Vons-anchored Horizon Village Square Shopping Center near
I-515 and Horizon Drive in Henderson.  The property includes five
retail buildings with nearly 43,000 square feet of space.

Ten Saints LLC (Bankr. D. Nev. Case No. 11-21028) owns the 134-
room Hampton Inn & Suites at St. Rose Parkway and Seven Hills
Drive in Henderson.  The Hon. Mike K. Nakagawa of the U.S.
Bankruptcy Court for the District of Nevada on Nov. 18, 2011,
entered a final decree closing the Chapter 11 case of Ten Saints
LLC.

Beltway One Development Group LLC (Bankr. D. Nev. Case No.
11-21026) owns the Desert Canyon Business Park at Russell Road
and the Las Vegas Beltway. It has two buildings and 15 acres.

Nigro HQ LLC (Bankr. D. Nev. Case No. 11-21014) owns an office
building at 9115 W. Russell Road occupied by Bank of George,
Infinity Plus LLC and Nigro Construction Inc.

Todd Nigro said the four bankruptcies were caused by threatened
foreclosures -- typically related to Wells Fargo Bank demanding
payments to keep loan-to-value ratios at specified levels.

Judge Mike K. Nakagawa presides over the cases.  Lawyers at Gordon
Silver serve as the Debtors' bankruptcy counsel.  The bankruptcy
petitions estimated assets and debts from $1 million to
$10 million each for Nigro HQ; and from $10 million to $50 million
in both assets and debts for Horizon Village, Ten Saints and
Beltway One.  The cases are not jointly administered.

A fifth related business, Russell Boulder LLC, filed for
bankruptcy (Bankr. D. Nev. Case No. 10-29724) on Oct. 19, 2010.
It owns the 600-suite Siena Suites extended stay property at
Boulder Highway and Russell Road.

Edward M. Zachary, Esq., at Bryan Cave LLP, in Bryan Cave LLP, in
Phoenix, Ariz., and Robert M. Charles, Jr., Esq., at Lewis and
Roca LLP, in Los Vegas, Nev., represent Wells Fargo Bank, N.A., as
counsel.

Horizon Village Square and Wells Fargo have submitted competing
Chapter 11 plans.


BLOUNT INTERNATIONAL: S&P Assigns 'B+' CCR, Outlook Negative
------------------------------------------------------------
Standard & Poor's Ratings Services said that it has assigned its
'B+' corporate credit rating to Blount International Inc.  The
outlook is negative.

At the same time, S&P assigned its 'B+' issue-level rating and '3'
recovery rating to Blount International's proposed $550 million
senior secured credit facilities, which comprise a $75 million
revolver due 2021 (that will be undrawn at closing), a $300 million
term loan due 2023, and a $175 million equivalent euro-denominated
term loan due 2023.  The '3' recovery rating indicates S&P's
expectation of meaningful recovery (50%-70%; lower half of the
range) in the event of a payment default.

Additionally, S&P lowered its corporate credit rating on Blount
International Inc.'s wholly owned subsidiary Blount Inc. to 'B+'
from 'BB-' and removed all of S&P's ratings on the company and its
co-borrower Omark Properties Inc. from CreditWatch, where S&P
placed them with negative implications on Dec. 11, 2015.  The
outlook is negative

S&P also lowered its issue-level ratings on Blount Inc. and
co-borrower Omark Properties Inc.'s $600 million senior secured
credit facilities to 'B+' from 'BB-'.  The '3' recovery rating is
unchanged, indicating S&P's expectation for meaningful (50%-70%;
upper half of the range) recovery in the event of a payment
default.  S&P intends to withdraw its ratings on the facilities
when they are repaid.

"The downgrade of Blount Inc. reflects our expectation that the
company's debt-to-EBITDA leverage metric will increase to nearly 5x
in 2016 primarily because of the proposed acquisition," said
Standard & Poor's credit analyst Jaissy Lorenzo.  "The negative
outlook reflects the challenging operating environment that the
company is facing due to weakness in its agriculture-related end
markets and headwinds from the stronger U.S. dollar."  However, S&P
expects that the company's covenant headroom will exceed 15% over
the next 12-18 months.  In line with the company's new
private-equity ownership and aggressive financial policies, S&P has
also revised its financial policy modifier on the company's to
FS-5.  The FS-5 assessment supports S&P's expectation that the
company's financial policies will allow it to maintain an adjusted
debt-to-EBITDA metric of less than 5x on a consistent basis.

The negative outlook on Blount reflects that there is a
one-in-three possibility that S&P could downgrade the company over
the next 12 months.  The company is facing weak conditions in its
agriculture end markets and headwinds from the stronger dollar,
which could pressure its operating performance and cause its
debt-to-EBITDA leverage metric to increase above 5x over the next
12-18 months.

S&P could lower its ratings on Blount if its adjusted
debt-to-EBITDA metric increases to more than 5x, pressuring the
company's covenant headroom and leaving it with limited prospects
for improvement.  In this hypothetical scenario, a revenue decline
of 2% or greater in 2016 and a 100 basis point deterioration in the
company's EBITDA margins, combined with a lack of substantial debt
reduction, could increase Blount's leverage to more than 5x and
lead to a downgrade.  S&P could also lower its ratings if it
believes that the company's financial policy has become more
aggressive than originally anticipated, causing its adjusted
debt-to-EBITDA metric to increase above 5x.

S&P could revise its outlook on Blount to stable if
foreign-exchange headwinds and the company's end markets stabilize
such that we expect it to reduce its leverage to materially less
than 5x on a sustained basis.


BON-TON STORES: Reports Fourth Quarter and Fiscal 2015 Results
--------------------------------------------------------------
The Bon-Ton Stores, Inc., reported net income of $50.6 million on
$928 million of net sales for the 13 weeks ended Jan. 30, 2016,
compared to net income of $71.7 million on $943 million of net
sales for the 13 weeks ended Jan. 31, 2015.

For the 52 weeks ended Jan. 30, 2016, the Company reported a net
loss of $57.05 million on $2.71 billion of net sales compared to a
net loss of $6.97 million on $2.75 billion of net sales for the 52
weeks ended Jan. 31, 2015.

As of Jan. 30, 2016, the Company had $1.55 billion in total assets,
$1.52 billion in total liabilities and $34.9 million in total
shareholders' equity.

Kathryn Bufano, president and chief executive officer, commented,
"Despite external headwinds and unseasonable weather that continued
into the fourth quarter, we successfully managed elements within
our control, reducing SG&A expense for the year and ending the
period with inventories below prior year levels.  We were pleased
with our progress made on a number of strategic initiatives,
including the introduction of key new brands and the expansion of
localized merchandise content.  Our omnichannel sales achieved
double-digit growth and we increased our online capacity with our
new, fully-automated West Jefferson eCommerce facility.
Additionally, we successfully addressed our capital structure by
increasing the borrowing capacity under our revolving credit
facility and retiring two mortgage facilities in advance of their
April 2016 maturity date."

Ms. Bufano continued, "As we continue to execute on our key
initiatives in 2016, we look to deliver an improved gross margin
rate and gross profit dollars through prudent inventory management,
increased sell-thru of regular price merchandise and greater
efficiencies in our distribution network.  Central to our success
is accelerated progress in our omnichannel strategies to coalesce
our efforts in stores, online and mobile as we look to engage our
customer at all touch points.  To that end, we are looking forward
to the implementation of 'Buy Online Pick-Up in Store' in the
second quarter, with an anticipated roll-out to all doors in
September of this year.  We believe these initiatives will position
us to deliver profitable growth and improved cash flow over the
long term."

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

                      http://is.gd/2JkXlm

                      About Bon-Ton Stores

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

                           *     *     *

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

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


BR ENTERPRISES: Court Enters Final Decree Closing Case
------------------------------------------------------
Judge Michael S. McManus entered a final decree closing BR
Enterprises' Chapter 11 case effective Feb. 22, 2016.  The motion
for final decree was scheduled for hearing on Feb. 22 but was taken
off calendar in advance due to an absence of opposition.

BR Enterprises in December 2015 had won confirmation of its Third
Amended Chapter 11 Plan after the Debtor reached an agreement with
secured creditor Redding Bank of Commerce.  As part of the parties'
agreement, RBC has agreed to withdraw its opposition to a modified
"Third Amended" Plan which provides for interest-only payments on
both of RBC's claims pending the payment thereof within a maximum
repayment term of two years.  Unsecured creditors whose claims
total less than $2,500 will be paid in full on the Effective Date,
without interest.  Other unsecured creditors will be paid pro rata
by the Debtor from available funds on a semi-annual basis to the
extent funds are available, and interest will accrue at the simple
rate of 7 percent per annum until paid in full.

The Debtor's attorneys:

         HOLLISTER LAW CORPORATION
         George C. Hollister
         655 University Ave., Suite 200
         Sacramento, CA 95825
         Tel: (916) 488-3400
         E-mail: hollisterlaw@earthlink.net

                       About BR Enterprises

BR Enterprises, a California Partnership, sought Chapter 11
protection (Bankr. E.D. Cal. Case No. 15-21575) in Sacramento,
California, on Feb. 27, 2015, without stating a reason.

BR Enterprises owns 20.17 acres of undeveloped ranch located at
East of Interstate 5 and South of Lake California Drive, 2600
Acres
of undeveloped ranch property located in Cottonwood, California in
Tehama County; and 278 acres of contiguous parcels along HWY I-5.
The properties are valued at $10.5 million, according to the
schedules.

Antonio Rodriguez, III, the managing partner, signed the petition.

The case is assigned to Judge Michael S. McManus.

George C. Hollister, Esq., at Hollister Law Corporation, in
Sacramento, serves as the Debtor's counsel.  The Debtor also
tapped
Evanhoe Kellog & Co as certified public accountant and Properties
by Merit, Inc., & Keller Williams Realty as broker/realtors.

The Debtor, in its amended schedules, disclosed total assets of
$14,422,042 and total liabilities of $4,361,491.  The Debtor
disclosed total assets of $14,422,236 and total liabilities of
$6,961,492 in a prior iteration of the schedules.

A related entity, Shasta Enterprises, sought bankruptcy protection
(Case No. 14-30833) on Oct. 31, 2014.


BRANTLEY LAND: Has Consent to Access Cash Collateral
----------------------------------------------------
Judge John S. Dalis of the U.S. Bankruptcy Court for the Southern
District of Georgia on March 8, 2016, signed an interim consent
order authorizing Brantley Land & Timber Company, LLC, which is
controlled by a receiver, to use cash collateral of State Bank &
Trust Company during the pendency of the case until confirmation of
a plan, dismissal, conversion to Chapter 7 or until further Order
of Court as long as the adequate protection payments remain
current.  The Debtor will use cash collateral to continue operating
its business, by and through its receiver, to incur administrative
expenses of this case all in order to effectuate the orderly
liquidation of the Debtor's assets.  As adequate protection, State
Bank & Trust Company will receive replacement liens and loan
payments of $5,000 per month.  As of July 16, 2015, the principal
amount of indebtedness to State Bank was $11,004,384.  

The Debtor filed the motion to use cash collateral on Aug. 17,
2015.  

On March 10, 2016, SB&T announced based on the settlement with the
Debtor, SB&T is withdrawing its objections to the Debtor's use of
cash collateral filed Nov. 5, 2015.

A copy of the consent order is available for free at:

      http://bankrupt.com/misc/Brantley_L_167_Int_Cash_Ord.pdf

Counsel for Debtor

         McCALLAR LAW FIRM
         C. James McCaIlar, Jr., Esq.
         P.O. Box 9026
         Savannah, GA 31412
         Tel: (912) 234-1215
         Fax: (912) 236-7549
         E-mail: mccallar@mccallarIawfirm.com

Counsel for State Bank & Trust Company

         Douglas D. Ford, Esq.
         Quirk & Quirk, LLC
         6000 Lake Forrest Drive, N.W.
         300 Century Springs West
         Atlanta, Georgia 30328
         Tel: (404) 376-3244
         Fax: (404) 671-9135
         E-mail: lrlquirklaw.com

                       About Brantley Land

Brantley Land & Timber Company, LLC, is a real estate development
company which originally held over 1,000 lots in a development
located in Brantley County, Georgia.

In July, 2011, State Bank & Trust Company obtained a judgment in
Fulton County Superior Court against Brantley Land and its
principals for an amount, including interest and fees, currently
in excess of ten million dollars, and the Superior Court also
appointed receiver Jerry Harper to take control of Debtor, based
at least in part on the misappropriation of funds by two of
Brantley Land's principals.

Brantley Land filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Ga. Case No. 15-20584) in Brunswick, Georgia, on July 16, 2015.
Jerry W. Harper, receiver, signed the petition.  The Debtor, under
the control of the receiver, tapped McCallar Law Firm as counsel.

Following the Chapter 11 filing, the Court appointed R. Michael
Souther as Chapter 11 Trustee.


BROADVIEW NETWORKS: Incurs $9.79 Million Net Loss in 2015
---------------------------------------------------------
Broadview Networks Holdings, Inc., filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss of $9.79 million on $291 million of revenues for the year
ended Dec. 31, 2015, compared to a net loss of $9.22 million on
$300.5 million of revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Broadview had $202.87 million in total assets,
$213.68 million in total liabilities and a total stockholders'
deficiency of $10.80 million.

As of Dec. 31, 2015, the Company held cash and cash equivalents in
the amount of $15.2 million and we had drawn $12.5 million on our
Revolving Credit Facility.

"There can be no assurance that our business will generate
sufficient cash flow from operations or that future borrowings will
be available in an amount sufficient to enable us to pay our
indebtedness or to fund other liquidity needs.  As of December 31,
2015, we required approximately $31.5 million in cash to service
the interest due on our Notes, which mature in November 2017,
throughout their remaining life.  We may need to refinance all or a
portion of our indebtedness, including our Notes and our Revolving
Credit Facility, at or before maturity.  There can be no assurances
that we will be able to refinance any of our indebtedness,
including our Notes and our Revolving Credit Facility, on
commercially reasonable terms or at all," the Company said in the
report.

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

                      http://is.gd/h50eT0

                    About Broadview Networks

Rye Brook, N.Y.-based Broadview Networks Holdings, Inc., is a
communications and IT solutions provider to small and medium sized
business ("SMB") and large business, or enterprise, customers
nationwide, with a historical focus on markets across 10 states
throughout the Northeast and Mid-Atlantic United States, including
the major metropolitan markets of New York, Boston, Philadelphia,
Baltimore and Washington, D.C.

                           *     *     *

In the July 23, 2012, edition of the Troubled Company Reporter,
Moody's Investors Service downgraded Broadview Networks Holdings,
Inc. Corporate Family Rating (CFR) to 'Caa3' from 'Caa2' and the
Probability of Default Rating (PDR) to 'Ca' from 'Caa3' in
response to the company's announcement that it has entered into a
restructuring support agreement with holders of roughly 70% of its
preferred stock and roughly 66-2/3% of its Senior Secured Notes.
The company is expected to file a pre-packaged Chapter 11 Plan of
Reorganization or complete an out of court exchange offer.

As reported by the TCR on July 25, 2012, Standard & Poor's Ratings
Services lowered its corporate credit rating on Broadview to 'D'
from 'CC'.  "This action follows the company's announced extension
on its revolving credit facility.  We expect to lower the issue-
level rating on the notes to 'D' once the company files for
bankruptcy, or if it misses the Sept. 1, 2012 maturity payment on
the notes," S&P said.


BROWARD HFA: Moody's Puts 'Ca' Bonds Ratings Under Review
---------------------------------------------------------
Moody's Investors Service has placed the ratings of the Housing
Finance Authority of Broward, FL Single Family Mortgage Revenue
Bonds, Series 2006A B1 , Series 2006B (Subordinate) Ca under review
for possible downgrade.

RATINGS RATIONALE

“In order to maintain the credit rating on the bonds, Moody's
must obtain recent financial information on the bond program. We
have tried unsuccessfully to obtain this information in last 90
days. During the review period, we will reach out to the
appropriate contact for recent bond program information. If we are
unable to receive this information within the next 60 days, we may
downgrade or withdraw the credit rating.”

Strengths

-- High credit quality of credit enhanced mortgage

Challenges

-- High delinquencies of second loans

-- Performance relies on proper administration and adherence to
    mandatory provisions of the trust indenture and financing
    agreement by all parties

-- Little to no additional security is available from outside the

    trust estate

WHAT COULD MAKE THE RATING GO UP

-- Additional funds from a source other than the pledged assets.

WHAT COULD MAKE THE RATING GO DOWN OR BE WITHDRAWN

-- Diminished or less-than-expected asset-to-debt ratio

-- Lack of information


BUFFETS LLC: Hires Akerman as Attorneys
---------------------------------------
Buffets, LLC, et al. seek authorization from the U.S. Bankruptcy
Court for the Western District of Texas to employ Akerman LLP as
attorneys, nunc pro tunc to the Marchh 7, 2016 petition date.

The Debtors require Akerman to:

   (a) advise the Debtors with respect to its powers and duties as

       a debtor-in-possession in the continued operation of its
       business;

   (b) advise the Debtors with respect to all general bankruptcy
       matters;

   (c) prepare, on behalf of the Debtors, all necessary motions,
       applications, answers, orders, reports, and papers in
       connection with the administration of its estate;

   (d) represent the Debtors at all critical hearings on matters
       relating to its affairs and interests as debtor-in-
       possession before this Court, any appellate courts, and the

       United States Supreme Court, and protecting the interests
       of the Debtors;

   (e) prosecute and defend litigated matters that may arise
       during this case, including such matters as may be
       necessary for the protection of the rights, the
       preservation of the estate's assets, or the Debtors'
       successful reorganization;

   (f) negotiate appropriate transactions and prepare any
       necessary documentation related thereto;

   (g) represent the Debtors on matters relating to the assumption

       or rejection of executory contracts and unexpired leases;

   (h) advise the Debtors with respect to general corporate
       securities, real estate, litigation, environmental, labor,
       regulatory, tax, healthcare, and other legal matters which
       may arise during the pendency of this Chapter 11 Case; and

   (i) perform all other legal services that are necessary for the

       efficient and economic administration of these cases.

Akerman will be paid at these hourly rates:

       David W. Parham, partner       $595
       John E. Mitchell, partner      $545
       Andrea Hartley, partner        $515
       Esther McKean, partner         $310
       Catherine Douglas, associate   $275
       Amy Leitch, associate          $265
       Katie Fackler, associate       $255
       Jennifer Meehan, paralegal     $190
       Janine Hilburn, paralegal      $245

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

Akerman received a retainer in the amount of $250,000 to cover
preparation of the Debtors cases for filing, with the balance to
serve as a retainer for the bankruptcy cases. On Friday March 4,
2016 Akerman drew down $220,000 to cover pre-petition fees and
expenses and filing fees for these cases.

David Parham, partner of Akerman, 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.

Akerman can be reached at:

       David W. Parham, Esq.
       AKERMAN LLP
       2001 Ross Avenue, Suite 2550
       Dallas, TX 75201
       Tel: (214) 720-4300
       E-mail: david.parham@akerman.com

                        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.


CAESARS ENTERTAINMENT: Parent Disagrees With Examiner's Conclusions
-------------------------------------------------------------------
Caesars Entertainment Corporation on March 15 issued the following
response to the report filed by Richard Davis, the Examiner
appointed in the Chapter 11 case of Caesars Entertainment Operating
Company ("CEOC"):

"Caesars Entertainment appreciates the effort of Mr. Davis and his
team.  We believe the evidence shows that each of the challenged
transactions was undertaken to strengthen CEOC and provide it with
the liquidity and resources required to sustain it and give it time
to recover from unprecedented market challenges.  These
transactions provided immense and indisputable benefit to CEOC and
its creditors, who received billions of dollars in principal and
interest payments.

"This is ultimately a dispute about valuation, process and whether
CEOC was solvent at the time of each of the transactions.  We
disagree with the Examiner's subjective conclusions and opinions on
these financial issues.  Indeed, the Examiner's conclusions are
completely inconsistent with the careful analysis and considered
opinions of the independent and highly regarded investment banks
and law firms who advised on these processes.  The advisors to
Caesars Entertainment and its affiliates included Centerview
Partners, Duff & Phelps, Evercore Partners, Lazard Freres & Co.,
Perella Weinberg Partners L.P., Paul, Weiss, Rifkind, Wharton &
Garrison, Reed Smith LLP, Skadden, Arps, Slate, Meagher & Flom and
Morrison & Foerster.  The most significant transactions were
negotiated and overseen by committees of independent directors of
Caesars Entertainment and its affiliates.

"Despite these disagreements, Caesars Entertainment has agreed to
contribute substantial and appropriate value to creditors in
settlement of those issues as part of the plan of reorganization
that is currently on file.  The current plan keeps the Caesars
family of companies linked together and maximizes value for all
stakeholders, which will help provide the greatest financial
outcomes for all parties.  We hope the issuance of the report will
facilitate ongoing settlement discussions and lead quickly to a
consensual resolution of the Chapter 11 proceedings of CEOC."

                   About Caesars Entertainment

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

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

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

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

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

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

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

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


CAESARS ENTERTAINMENT: TPG, Apollo Disagree with Examiner's Report
------------------------------------------------------------------
Tom Hals and Tracy Rucinski, writing for Reuters, report that
Apollo Global Management and TPG Capital have said in statements
they disagreed with an examiner's findings that they stripped
Caesars Entertainment Corp.'s operating company of its best assets.
They said they have acted in good faith to help Caesars
Entertainment Operating Co Inc cut its debt. Both said the deals
involving the operating unit were reviewed by independent experts
and outside law firms.

Richard Davis, who was appointed as examiner in CEOC's bankruptcy
case, released his report on Tuesday, saying the parent company
could face $5 billion in potential damages from the CEOC
bankruptcy.  The examiner's report also found that Apollo and TPG
could be liable for their role in deals that led to CEOC's
bankruptcy.

While the report is nonbinding, junior creditors led by the
Appaloosa Management hedge fund will seize upon its findings to
demand a better payout in ongoing mediated talks, Reuters note.

According to the report, CEOC's lawyers have said they anticipate
Caesars will raise its proposed contribution of $1.5 billion to
settle claims that it stripped the best assets, such as the Linq
Hotel & Casino in Las Vegas.  Reuters recounts junior creditors
have filed multiple lawsuits against Caesars and one case could go
to trial in a Manhattan federal court as soon as May 9. Caesars has
said it expects to prevail in that case, but has also warned that
losing would plunge it into bankruptcy alongside CEOC.

"The report's scope was much broader than expected and it was much
more creditor-friendly than expected," said Alex Bumazhny, who
follows Caesars for Fitch Ratings, a credit rating agency,
according to Reuters.

"The report clearly provides a level of leverage that bondholders
didn't have before," said James Newell, a bankruptcy attorney with
Buchanan Ingersoll & Rooney, Reuters reports.

                   About Caesars Entertainment

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

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

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

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

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

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

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

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


CAPITOL LAKES: Hires Prime Clerk as Claims and Balloting Agent
--------------------------------------------------------------
Capitol Lakes, Inc. seeks authorization from the U.S. Bankruptcy
Court for the Western District of Wisconsin to employ Prime Clerk
LLC as claims, noticing and balloting agent, nunc pro tunc to the
January 20, 2016 petition date.

The Debtor requires Prime Clerk to:

   (a) assist the Debtor with the preparation and distribution of
       all required notices in its chapter 11 case, including: (i)

       notice of any claims bar date, (ii) notices of objections
       to claims and objections to transfers of claims, (iii)
       notices of any hearings on a disclosure statement and
       confirmation of any plan or plans of reorganization,
       including under Bankruptcy Rule 3017(d), (iv) notice of the
       effective date of any plan, and (v) all other notices,
       orders, pleadings, publications and other documents as the
       Debtor, Court, or Clerk may deem necessary or appropriate
       for an orderly administration of this chapter 11 case;

   (b) assist the Debtor with plan-solicitation services
       including: (i) balloting, (ii) distribution of applicable
       solicitation materials, (iii) tabulation and calculation of
       votes, (iv) determining with respect to each ballot cast,
       its timeliness and its compliance with the Bankruptcy Code,

       Bankruptcy Rules and procedures ordered by this Court; and
       (v) generating an official ballot certification and
       testifying, if necessary, in support of the ballot
       tabulation results;

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

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

   (e) for all notices, motions, orders or other pleadings or
       documents served, prepare and file or cause to be filed
       with the Clerk an affidavit or certificate of service
       within 7 days of service which includes (i) either a copy
       of the notice served or the docket numbers and titles of
       the pleadings served, (ii) a list of persons to whom it was

       mailed with their addresses, (iii) the manner of service,
       and (iv) the date served;

   (f) receive and process all proofs of claim received, including

       those received by the Clerk, check said processing for
       accuracy and maintain the original proofs of claim in a
       secure area;

   (g) maintain the official claims register on behalf of the
       Clerk; upon the Clerk's request, provide the Clerk with a
       certified, duplicate unofficial Claims Register; and
       specify in the Claims Register the following information
       for each claim docketed: (i) the claim number assigned,
       (ii) the date received, (iii) the name and address of the
       claimant and agent, if applicable, who filed the claim,
       (iv) the address for payment, if different from the notice
       address; (v) the amount asserted, (vi) the asserted
       classifications of the claim, and (vii) any disposition of
       the claim;

   (h) implement necessary security measures to ensure the
       completeness and integrity of the Claims Register and the
       safekeeping of the original claims;

   (i) record all transfers of claims and provide any notices of
       such transfers as required by Bankruptcy Rule 3001(e);

   (j) relocate, by messenger or overnight delivery, all of the
       court-filed proofs of claim to the offices of Prime Clerk,
       not less than weekly;

   (k) monitor the Court's docket for all notices of appearance,
       address changes, and claims-related pleadings and orders
       filed and make necessary notations on and/or changes to the

       Claims Register and any service or mailing lists, including

       to identify and eliminate duplicative names and addresses
       from such lists;

   (l) identify and correct any incomplete or incorrect addresses
       in any mailing or service lists;

   (m) assist in the dissemination of information to the public
       and respond to requests for administrative information
       regarding this chapter 11 case as directed by the Debtor
       or the Court, including through the use of a case website;

   (n) comply with applicable federal, state, municipal, and local

       statutes, ordinances, rules, regulations, orders and other
       requirements;

   (o) if this chapter 11 case is converted to a case under
       chapter 7 of the Bankruptcy Code, contact the Clerk's
       office within 3 days of notice to Prime Clerk of entry of
       the order converting the case;

   (p) 30 days prior to the close of this chapter 11 case, to the
       extent practicable, request that the Debtor submit to the
       Court a proposed order dismissing Prime Clerk as claims,
       noticing and balloting agent and terminating its services
       in such capacity upon completion of its duties and
       responsibilities and upon the closing of this chapter 11
       case;

   (q) within 7 days of notice to Prime Clerk of entry of an order

       closing this chapter 11 case, provide to the Court the
       final version of the Claims Register as of the date
       immediately before the close of the chapter 11 case;

   (r) at the close of this chapter 11 case, (i) box and transport

       all original documents, in proper format, as provided by
       the Clerk's office, to (A) the Philadelphia Federal Records

       Center, 14700 Townsend Road, Philadelphia, PA 19154 or (B)
       any other location requested by the Clerk's office; and
       (ii) docket a completed SF-135 Form indicating the
       accession and location numbers of the archived claims;

   (s) assist with, among other things, solicitation, balloting
       and tabulation of votes, and prepare any related reports,
       as required in support of confirmation of a chapter 11
       plan, and in connection with such services, process
       requests for documents from parties in interest, including,

       if applicable, brokerage firms, bank back-offices and
       institutional holders;

   (t) prepare an official ballot certification and, if necessary,

       testify in support of the ballot tabulation results;

   (u) manage and coordinate any distributions pursuant to a
       chapter 11 plan; and

   (v) provide such other processing, solicitation, balloting and
       other administrative services described in the Engagement
       Agreement that may be requested from time to time by the
       Debtor, the Court or the Clerk's Office.

Prime Clerk will be paid at these hourly rates:

       Analyst                     $30-$45
       Technology Consultant       $75-$95
       Consultant                  $90-$130
       Senior Consultant           $135-$165
       Director                    $170-$190
       Solicitation Consultant     $190
       Solicitation Director       $210

Prime Clerk will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Prior to the Petition Date, the Debtor provided Prime Clerk a
retainer in the amount of $10,000.

Michael J. Frishberg, co-president and chief operating officer of
Prime Clerk, 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.

Prime Clerk can be reached at:

       Shai Waisman
       PRIME CLERK LLC
       830 3rd Avenue, 9th Floor
       New York, NY 10022
       Tel: (212) 257-5450
       E-mail: swaisman@primeclerk.com

                        About Capitol Lakes

Capitol Lakes Inc. owns and operates a continuing care retirement
community ("CCRC") located in Madison, Wisconsin.  The CCRC is
comprised of: (i) an urban high rise containing 105 independent
living units (the "Heights"), (ii) an apartment building containing
52 additional independent living units (the "Main Gate"), (iii) an
assisted living residential facility containing 43 assisted living
units (the "Terraces"), of which 39 are single occupancy and 4 are
available for double occupancy, (iv) a skilled nursing facility
with 85 active skilled nursing beds licensed by the Wisconsin
Department of Health and Family Services and certified to
participate in the Medicare and Medicaid programs (the "Health
Center"), all located on a site of approximately 3.814 acres of
land owned by Capitol Lakes located in the heart of downtown
Madison, Wisconsin.

On Jan. 20, 2016, Capitol Lakes filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Wisc. Case No. 16-10158).  The case is
assigned to Judge Robert D. Martin.

As of Dec. 31, 2015, on a book value basis, Capitol Lakes has $57.6
million in assets and $104.2 million in liabilities.

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

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


CHICAGO, IL: Moody's Affirms Ba1 Rating on $7.7-Bil. GO Bonds
-------------------------------------------------------------
Moody's Investors Service has affirmed the Ba1 rating on $7.8
billion of the City of Chicago's general obligation (GO) bonds.
Moody's has also affirmed the Ba1 rating on $417 million of
outstanding sales tax debt and $263 million of outstanding and
authorized motor fuel tax debt. The outlook on all ratings remains
negative.

The Ba1 rating on Chicago's GO debt balances a large, diverse and
recovering economic base with outsized and growing leverage. The
rating also incorporates significant steps the city is taking to
stabilize fiscal operations, while recognizing that the actions
taken to date are insufficient to halt the escalation of pension
debt over time. The future trajectory of the city's combined debt
and pension burden will depend on revenue growth and plan asset
performance, both of which remain uncertain over an extended
period.

The Ba1 ratings on Chicago's sales tax and motor fuel tax debt
reflect the absence of legal segregation of pledged revenue from
the general operations of the city. This lack of separation caps
the ratings at the city's GO rating, despite healthy debt service
coverage by pledged revenue.

Rating Outlook

The negative outlook reflects Moody's expectation that Chicago's
balance sheet will continue to weaken as, absent more aggressive
budgetary adjustments, the city's long-term liabilities will rise.
The outlook also incorporates the deepening fiscal stress of
Chicago Public Schools, which raises the possibility of direct or
indirect contagion on the city's financial operations.

Factors that Could Lead to an Upgrade

Sustained expansion of Chicago's economy and labor market that
drives long-term revenue growth sufficient to outpace a rising debt
and pension burden

Further financial adjustments - either to revenue, expenses, or
both - that accommodate pension contributions sufficient to reverse
growth in unfunded pension liabilities and a weakening of the
city's balance sheet

Chicago's special tax ratings (sales tax; motor fuel tax) could
move above the GO rating if legal provisions were adopted to
completely segregate the collection of pledged revenue from the
city's general operations

Factors that Could Lead to a Downgrade

Slow-down in economic and labor market expansion that
challenges the capacity of Chicago's base to generate
revenue sufficient to meet the growing pension and
debt service costs of the city and overlapping units
of government

Faster than anticipated growth in Chicago's debt and
pension leverage that requires a greater share of city
revenue to service long-term obligations

Failure of the city to develop and implement an
alternate plan to fund non-public safety pensions
should the Illinois Supreme Court rule the city's 2014
reform statute unconstitutional

Contagion from CPS that materially weakens the city's
finances or market access

Legal Security

Chicago's GO bonds are secured by a pledge to levy a tax unlimited
as to rate and amount to pay debt service.

Chicago's sales tax revenue bonds are secured by a senior lien on
receipts of the city's local home rule sales tax and the city's
share of the State of Illinois's sales tax.

Chicago's motor fuel tax revenue bonds are secured by a senior lien
on 75% of the city's annual allocation of state motor fuel taxes,
plus other pledged city revenue primarily consisting of dock
licensing fees collected from tour boats operating on the Chicago
River.

Use of Proceeds

Not applicable.

Obligor Profile

The City of Chicago, with a 2010 census population of 2.7 million,
is the largest city in the State of Illinois and the third most
populous city in the US.



CINEMARK USA: Moody's Gives B2 Unsec. Rating on $225MM Add-on Notes
-------------------------------------------------------------------
Moody's Investors Service assigned a B2 rating to the proposed $225
million add-on to Cinemark USA, Inc.'s (Cinemark) $530 million,
4.875% unsecured notes maturing 2023. The new notes will have
substantially the same terms. The company expects to use proceeds
to fund a tender for Cinemark's 7.375% senior subordinated bonds
due June 2021 ($200 million outstanding). Moody's will withdraw the
B3 senior subordinated rating on these notes when they are fully
tendered. The B1 corporate family rating and stable outlook are
unchanged.

Assignments:

Issuer: Cinemark USA, Inc.

-- Senior Unsecured Regular Bond/Debenture, Assigned B2 (LGD5)

RATINGS RATIONALE

The transaction favorably extends the maturity profile and will
lower borrowing costs for Cinemark. Pro forma for the issuance of
the unsecured notes and retirement of the subordinated notes,
Cinemark's annual interest savings will be around $3.8 million. The
incremental $25 million in proceeds will be primarily used to pay
transaction fees and fund cash to the balance sheet.

Cinemark's B1 corporate family rating incorporates the company's
liberal use of operating cash flows and the constraints imposed by
a mature industry experiencing a secular decline in attendance.
Additionally, the company is challenged by a dependence on a
limited number of movie studios, an unpredictable box office
result, and emerging competitive threats. Despite these challenges,
the company is one of the four largest operators in the US with a
12% North America market share that has grown during the last five
years, and is diversified with over 27% of its revenues generated
overseas. In addition to size and scale, the company benefits from
barriers to entry into the first-run window for theatrical
distribution, pricing power, high margins, and good liquidity.

Cinemark Holdings, Inc., headquartered in Plano, Texas and the
owner of Cinemark USA, Inc. (Cinemark), operates 513 theatres and
5,796 screens across its US and international footprint. Cinemark's
revenue for the year ended 2015 was approximately $2.9 billion.


COCRYSTAL PHARMA: Incurs $50.1 Million Net Loss in 2015
-------------------------------------------------------
Cocrystal Pharma, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$50.1 million on $78,000 of grant revenues for the year ended Dec.
31, 2015, compared to a net loss of $99,000 on $9,000 of grant
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Cocrystal Pharma had $224 million in total
assets, $56.6 million in total liabilities and $168 million in
total stockholders' equity.

                           Liquidity

The Company has no pharmaceutical products approved for sale, has
not generated any revenues to date from pharmaceutical product
sales, and has incurred significant operating losses since
inception.  The Company has never been profitable and has incurred
losses from operations of $54.0 million and $5.8 million in the
years ended December 31, 2015 and 2014, respectively.  Subsequent
to Dec. 31, 2015, the Company received commitments for a $5,004,370
private stock placement, all of which has been received.  The
Company does not believe that its cash and cash equivalents of $9.3
million as of Dec. 31, 2015, and funds received in this financing
will be sufficient to allow the Company to fund its current
operating plan for at least the next 12 months.  The ability of the
Company to continue as a going concern is dependent on the Company
obtaining adequate capital to fund operating losses until it
becomes profitable.  

"The Company can give no assurances that any additional capital
that it is able to obtain, if any, will be sufficient to meet its
needs, or that any such financing will be obtainable on acceptable
terms.  If the Company is unable to obtain adequate capital, it
could be forced to cease operations or substantially curtail its
commercial activities.  These conditions raise substantial doubt as
to the Company's ability to continue as a going concern," the
Company said in the report.

In order to continue as a going concern, the Company will need,
among other things, additional capital resources.  Management's
plans to obtain such resources for the Company include obtaining
capital from the sale of its equity securities during 2016.
However, management cannot provide any assurance that the Company
will be successful in accomplishing any of its plans.

The Company said its ability to continue as a going concern is
dependent upon its ability to successfully accomplish the plans
described in the preceding paragraph and eventually to secure other
sources of financing and attain profitable operations.

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

                       http://is.gd/kKb4JS

                      About Cocrystal Pharma

Cocrystal Pharma, Inc., formerly known as Biozone Pharmaceuticals,
Inc., is a pharmaceutical company with a mission to discover novel
antiviral therapeutics as treatments for serious and/or chronic
viral diseases.  Cocrystal Pharma employs unique technologies and
Nobel Prize winning expertise to create first- and best-in-class
antiviral drugs.  These technologies and the Company's market-
focused approach to drug discovery are designed to efficiently
deliver small molecule therapeutics that are safe, effective and
convenient to administer.

The Company's primary business going forward is to develop novel
medicines for use in the treatment of human viral diseases.
Cocrystal has been developing novel technologies and approaches to
create first-in-class and best-in-class antiviral drug candidates
since its initial funding in 2008.  Subsequent funding was
provided to Cocrystal Discovery, Inc., by Teva Pharmaceuticals
Industries, Ltd., or Teva, in 2011.  The Company's focus is to
pursue the development and commercialization of broad-spectrum
antiviral drug candidates that will transform the treatment and
prophylaxis of viral diseases in humans.  By concentrating the
Company's research and development efforts on viral replication
inhibitors, the Company plans to leverage its infrastructure and
expertise in these areas.


CUI GLOBAL: Reports Q4 and Full Year 2015 Financial Results
-----------------------------------------------------------
CUI Global, Inc. reported a net loss of $1.35 million on $21.9
million of total revenue for the three months ended Dec. 31, 2015,
compared to a net loss of $1.89 million on $18.6 million of total
revenue for the same period in 2014.

For the year ended Dec. 31, 2015, the Company reported a net loss
of $5.98 million on $86.7 million of total revenue compared to a
net loss of $2.80 million on $76.04 million of total revenue for
the year ended Dec. 31, 2014.

As of Dec. 31, 2015, CUI Global had $90.8 million in total assets,
$31.3 million in total liabilities and $59.5 million in total
stockholders' equity.

CUI Global's president & CEO, William Clough commented, "We made
tremendous strides in our business in 2015, particularly through
Orbital Gas Systems, where we recently secured a number of
$1,000,000+ deals in the UK and North America.  We closed an order
for Orbital's proprietary GasPT analyzers to Europe's largest
natural gas transmission company, Snam Rete Gas.  The total scope
of the project includes the deployment of 3,300 analyzers across
the Italian pipeline system.  This contract award is a result of
years of testing, certification and independent test protocol, and
is truly a transformational project for the Company.  Our North
American gas subsidiary is also gaining momentum, and we are very
optimistic about our energy business moving forward.  While the
fourth quarter was not as strong as we had hoped due to flat
revenues in the power and electromechanical and energy divisions,
much of the Company's focus was on closing of the Snam Rete deal
and the recently announced projects in our energy division; all of
which will positively contribute to future financial results."

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

                        http://is.gd/bPbGbI

                         About CUI Global

Tualatin, Ore.-based CUI Global, Inc., formerly known as Waytronx,
Inc., is a platform company dedicated to maximizing shareholder
value through the acquisition, development and commercialization
of new, innovative technologies.

CUI Global reported a net loss of $5.98 million on $86.66 million
of total revenues for the year ended Dec. 31, 2015, compared to a
net loss of $2.80 million on $76.04 million of total revenues for
the year ended Dec. 31, 2014.


CURTIS JAMES JACKSON: 50 Cent Says He's $16-Mil. in the Red
-----------------------------------------------------------
Pete Brush at Bankruptcy Law360 reported that rapper 50 Cent has
about $20 million in personal assets and more than $36 million in
liabilities, according to a filing lodged in Connecticut bankruptcy
court ahead of a hearing in which an examiner may be appointed to
investigate recent social media photos the rapper posted showing
him posing with piles of cash.

The rapper, whose real name is Curtis James Jackson III, has more
than $2.7 million in a City National Bank checking account and more
than $7.8 million in brokerage accounts.

50 Cent, whose legal name is Curtis James Jackson III, filed a
motion Feb. 3, asking U.S. Bankruptcy Judge Ann M. Nevins to
approve an amendment to his brand collaboration agreement with Jim
Beam Brands, saying it will add a year to his contract.

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


CYTORI THERAPEUTICS: May Issue 5.5M Shares Under Incentive Plans
----------------------------------------------------------------
Cytori Therapeutics, Inc., filed with the Securities and Exchange
Commission a Form S-8 registration statement to register 4,527,000
shares of common stock reserved for issuance pursuant to the Cytori
Therapeutics, Inc. 2014 Equity Incentive Plan and 1,000,000 shares
of common stock reserved for issuance pursuant to the Cytori
Therapeutics, Inc. 2015 New Employee Incentive Plan.  A copy of the
prospectus is available at http://is.gd/YsLGxG

                          About Cytori

Based in San Diego, California, Cytori Therapeutics (NASDAQ: CYTX)
-- http://www.cytori.com/-- is an emerging leader in providing    

patients and physicians around the world with medical
technologies, which harness the potential of adult regenerative
cells from adipose tissue.  The Company's StemSource(R) product
line is sold globally for cell banking and research applications.

Cytori reported a net loss allocable to common stockholders of
$19.4 million on $4.83 million of product revenues for the year
ended Dec. 31, 2015, compared to a net loss allocable to common
stockholders of $38.5 million on $4.95 million of product revenues
for the year ended Dec. 31, 2015.

As of Dec. 31, 2015, Cytori had $37.7 million in total assets,
$25.5 million in total liabilities, and $12.2 million in total
stockholders' equity.

KPMG LLP, in San Diego, California, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company's recurring losses
from operations and liquidity position raises substantial doubt
about its ability to continue as a going concern.


DALLAS PROTON: Taps Lincoln Harris as Broker for Dallas Property
----------------------------------------------------------------
Dallas Proton Treatment Center, LLC, and Dallas Proton Treatment
Holdings, LLC, filed with the Bankruptcy Court an application to
employ the brokerage firm of Lincoln Property Company Commercial
Service Enterprises, Inc. d/b/a Lincoln Harris CSG, to serve as
broker for DPTC's real estate consisting of 4.6 acres and building
improvements located at 2310 North Stemmons Freeway, Dallas,
Texas.

The Debtors say that Lincoln Harris has substantial connections
that will benefit the bankruptcy estate and make it easier to
realize the highest and best price for the Dallas Property.

Pursuant to an "Exclusive Listing Agreement" dated Feb. 4, 2016,
the Debtors granted Lincoln Harris the sole and exclusive right to
act as the Debtors' agent in connection with the sale of the Dallas
Property.

Lincoln Harris has agreed to render these services:

   a. To advise the Debtors of potential options with regard to the
Dallas Property;

   b. To market the Dallas Property for a potential sale-leaseback
transaction to benefit the bankruptcy estates and provide immediate
liquidity to the Debtors;

   c. To assist the Debtors in the preparation of all documents
necessary to effectuate a potential sale-leaseback transaction of
the Dallas Property;

   d. To represent the Debtors in negotiating potential
sale-leaseback transactions for the Dallas Property with respect to
other interested parties;

   e. To assist the Debtors in gaining Court approval of any such
sale-leaseback of the Dallas Property;

   f. To perform any and all other brokerage services that may be
necessary with respect to the Debtors' interests in the Dallas
Property.

The Debtors aver that the retention of Lincoln Harris will
facilitate the Debtors' ability to acquire immediate liquidity
through a sale-leaseback of the Dallas Property, consistent with
the Debtors' plans in the bankruptcy proceedings and continuing
following confirmation of their plan of reorganization.

The Engagement Agreement provides that the Debtors will pay Lincoln
Harris a commission if, during the Term, the Debtors and a
potential purchaser enter into a written purchase and sale
agreement covering the Dallas Property, and the sale of the Dallas
Property contemplated therein is completed and closed.  The
commission contemplated is equal to 1.5% of the gross sales price
if the Dallas Property is sold to Crow Holdings or its affiliates,
Perot Group or its affiliates, or any of the current creditors of
the Debtors.  Otherwise, the commission will be equal to 2.5% of
the gross sales price.  In any instance, the commission will be
payable upon closing.

Due to the fact that Lincoln Harris' engagement is limited in scope
and that Lincoln Harris has agreed to be paid a commission based on
percentage of gross sales price (instead of being paid on an hourly
basis), the Debtors request that the Court authorize the Debtors to
pay Lincoln Harris such commission without the need for Lincoln
Harris to file a fee application.  Instead, the Debtors will seek
approval to pay Lincoln Harris its commission upon consummation of
any transaction regarding the Dallas Property, and such request
will be contained in the motion to approve the sale of same.

The Debtors do not believe that Lincoln Harris has any relationship
that would raise a disqualification or conflict of interest, or
would otherwise render it ineligible to serve as counsel for the
Debtors pursuant to Section 327 of the Bankruptcy Code.

A hearing on the application is set to be held on March 31, 2016,
at 9:30 a.m.

The firm can be reached at:

         LINCOLN PROPERTY COMPANY COMMERCIAL SERVICE
         ENTERPRISES, INC. d/b/a LINCOLN HARRIS CSG,
         Webber Beal III
         Executive Vice President
         6688 N. Central Expressway, Suite 300
         Dallas, TX 75206
         Tel: 214.461.2330
         E-mail: wbeall@lpc.com

                       Limited Objections

Hunt Construction Group, which asserts a mechanic's and
materialman's lien against the Dallas Property, does not object to
the Debtor engaging a broker to seek a possible buyer or using a
broker to determine the value of the Property, but HCG does not
waive, and in fact reiterates, its rights as a lienholder to the
Property and any proceeds arising from any sale or disposition of
the Property.

Kelcy Warren and Dallas Proton, LLC object to the Application to
the extent that Lincoln Harris seeks to be paid, or is to be paid,
from Dallas Holdings' collateral, including its cash collateral and
real property collateral.  The proposed retention requires the
Debtors to reimburse Lincoln Harris for up to $10,000.00 if a
closing does not occur.  Virtually the only funds that the Debtors
could make such a payment from Dallas Proton's cash collateral.
Dallas Proton does not consent to the use of any of its cash
collateral or other collateral to make any such payment, or to make
any other payment, commission, or fee to Lincoln Harris (including
the proposed indemnification of Lincoln Harris).

Attorneys for Dallas Proton, LLC and Kelcy Warren:

         MUNSCH HARDT KOPF & HARR, P.C.
         Kevin M. Lippman, Esq.
         Davor Rukavina, Esq.
         Thomas D. Berghman, Esq.
         3800 Ross Tower
         500 N. Akard Street
         Dallas, TX 75201
         Telephone: (214) 855-7500
         Facsimile: (214) 978-5359

Attorneys for Hunt Construction:

         John D. Rosenberg, Esq.
         Michael R. Johnson, Esq.
         ROSENBERG PASCHALL JOHNSON LLP
         2001 Bryan Street, Suite 2125
         Dallas, TX 75201
         Telephone: (214) 969-5454
         Facsimile: (214) 969-590
         E-mail: JohnR@rpj-law.com
                 mrj@rpj-law.com

               About Dallas Proton Treatment Center

Dallas Proton Treatment Holdings, LLC, was formed in January 2010
and is registered as a limited liability company under the laws of
the State of Delaware.  Holdings' authorized purpose is to conduct
whatever business is necessary to design, finance, construct, and
manage a licensed, freestanding healthcare center (the "Project")
in the Dallas, Texas area that provides proton-radiation therapy
for patients with cancerous tumors.

Holdings' wholly owned subsidiary, Dallas Proton Treatment Center,
LLC ("Center") was formed in March 2012 for the specific purpose
of
developing, owning, and operating the Project. Center is the legal
owner of a tract of land and improvements at 2300 N. Stemmons Fwy,
Dallas, TX 75207 (the "Dallas Property").  Center purchased that
real estate on or around November 12, 2013, for approximately
$11,600,000.  Center has spent approximately $18,000,000 in
additional funds to develop and start construction of the Project.

Project is the last of a four-facility program to build four
proton-therapy centers across the United States. All four centers
were/are being developed and constructed under the management of
Advanced Particle Therapy, LLC ("APT").  As of the Petition Date,
APT owned approximately 95% of the Class B equity units, and 96.4%
of the Class A equity units, in Holdings.

Dallas Proton Treatment Center and Dallas Proton Treatment
Holdings
sought Chapter 11 protection (Bankr. N.D. Tex. Case Nos. 15-33783
and 15-33784, respectively) on Sept. 17, 2015.  The petitions were
signed by James Thomson as chief technology officer/manager.  

Gardere Wynne Sewell LLP serves as counsel to the Debtors.

                           *     *     *

The Court established Jan. 20, 2016, as the general deadline for
filing proofs of claim against the Debtors.

The Debtors filed a Joint Plan of Reorganization that would allow
them to emerge quickly from Chapter 11 and then raise funds to
complete their proton-therapy center in Dallas.  Holders of general
unsecured claims against Holdings (A7) and Center (B7) will be paid
from the proceeds of the First, Second, and/or Third Capital Cash,
at the election of each holder of a claim, in the following
amounts:

  * 60% of such Allowed Claim on or before Aug. 30, 2016.
  * 80% of such Allowed Claim on or before Sept. 30, 2016.
  * 100% of such Allowed Claim on or after Oct. 1, 2016.


DEB STORES: Has Until June 4, 2016 to File Ch. 11 Plan
------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware issued a fourth order extending until June 4, 2016, the
period by which only Deb Stores Holding, LLC, et al., have
exclusive right to file a plan, and until August 4, 2016, the
period by which only the Debtors have exclusive right to solicit
votes to accept the plan.

As previously reported by The Troubled Company Reporter, the
Debtors state that they merely require additional time in order
to maximize the value of their estates.

The Debtors tell the Court that they have made significant progress
in these cases, including: (a) coordination with the DIP lender and
the Official Committee of Unsecured Creditors regarding pursuit of
causes of action on behalf of the Debtors' estates; (b) obtaining
authorization to use cash collateral with the Term Loan Lenders'
consent to, among other things, make certain payments from the
503(b)(9) Reserve, utilities adequate assurance deposit and
account, and payment to a former landlord to resolve a motion to
compel; (c) obtaining court approval of settlement with credit card
issuer over amount of reserve/chargeback due to the Debtors'
estates; (d) obtaining court approval and resolved potential
litigation with issuer of letter of credit resulting in settlement
payment to the Debtors' estates; (e) continued negotiation with the
Term Loan Lenders over future use of cash collateral; and (f)
continued reconciliation of asserted section 503(b)(9) claims.

                    About Deb Stores

Headquartered in Philadelphia, Pennsylvania, Deb Stores is a
mall-based retailer in the juniors "fast-fashion" specialty sector
that operates under the name "DEB" and offers moderately priced,
fashionable, coordinated women's sportswear, dresses, coats,
lingerie, accessories and shoes for junior and plus sizes.  The
company, founded by Philip Rounick and Emma Weiner, opened its
first store under the name JOY Hosiery in Philadelphia,
Pennsylvania in 1932.  As of Sept. 30, 2014, the Company operated a
total of 295 retail store locations (primarily in the East and
Midwest, especially Pennsylvania, Ohio and Michigan) as well as an
e-commerce channel.

On June 26, 2011, Deb Stores' predecessors -- DSI Holdings Inc. and
its subsidiaries -- sought Chapter 11 protection (Bankr. D. Del.
Lead Case No. 11-11941) and closed the sale of the assets three
months later to Ableco Finance, LLC, the agent for the first lien
lenders.

Deb Stores Holding LLC and eight affiliated companies commenced
Chapter 11 bankruptcy cases in Delaware on Dec. 4, 2014.  The
Debtors sought to have their cases jointly administered, with
pleadings maintained on the case docket for Deb Stores Holding
(Case No. 14-12676).  The cases are assigned to Judge Mary F.
Walrath.

Carl D. Neff at Delaware Bankruptcy Litigation reported that by
order dated Dec. 5, 2014, the Debtors' Chapter 11 cases were
consolidated for procedural purposes only and therefore are being
jointly administered pursuant to Bankruptcy Rule 1015(b).

Laura Davis Jones, Esq., Colin R. Robinson, Esq., at and Peter J.
Keane, Esq., at Pachulski Stang Ziehl & Jones LLP, in Wilmington,
Delaware, serve as counsel to the Debtors.  Epiq Bankruptcy
Solutions, LLC, is the claims and noticing agent.

As of Dec. 31, 2014, the Debtors' most recent audited consolidated
financial statements reflected assets totaling $90.5 million and
liabilities totaling $120.1 million.

The Official Committee of Unsecured Creditors tapped Cooley LLP as
its lead counsel; Drinker Biddle & Reath LLP as its co-counsel; and
Zolfo Cooper, LLC as its bankruptcy consultants and financial
advisors.


DIOCESE OF GALLUP: Victims Atty. Says Disclosure Essential in Deal
------------------------------------------------------------------
Olivier Uyttebrouck at the Albuquerque Journal reported that an
attorney who filed 13 lawsuits against the Diocese of Gallup on
behalf of alleged victims of clerical sexual abuse said the
disclosure of church records will be an essential part of any
settlement in the diocese's Chapter 11 bankruptcy case.

According to the report, Robert Pastor, a Phoenix attorney, said
claimants and their attorneys in the case are adamant that the
diocese must release church records, including the personnel files
of accused priests.

Attorneys working toward a settlement told U.S. Bankruptcy Judge
David Thuma of Albuquerque that they intend to file a
reorganization plan with the court later this month.

"Exposure of these facts is critical to why we bring these cases,"
said Pastor, who filed suits against the diocese from 2010-13.

"We are not going to settle unless those files are exposed," he
said. "There may be a delay in exposure, but those files are coming
out.  They must."

The Diocese of Gallup has published a list of 30 priests and one
lay teacher accused of "credible allegations of sexual abuse of a
minor" assigned to parishes in New Mexico and Arizona, according to
a statement written by Bishop James Wall.

To date, the personnel file of only one priest, the Rev. Clement
Hageman, has been disclosed publicly in response to a 2010 lawsuit,
Pastor said.  Hageman, who worked in the diocese for 35 years until
his death in 1975, has been identified as the abuser of 16 people
who have filed claims in the bankruptcy case.

In all, 57 alleged victims have filed claims in the case.

                   About The Diocese of Gallup

The Diocese of Gallup, New Mexico, principally encompasses
American Indian reservations for seven tribes in northwestern New
Mexico and northeastern Arizona. It is the poorest diocese in the
U.S.

There are 38 active priests working in the Diocese and 27
permanent deacons also serve the Diocese along with five
seminarians.  The Diocese and its missions, schools and ministries
employ approximately 50 people, and a significant number of
additional people offer their services as volunteers.

The diocese sought bankruptcy protection under Chapter 11 of the
Bankruptcy Code (Bankr. D. N.M. Case No. 13-bk-13676) on Nov. 12,
2013, in Albuquerque, New Mexico amid suits for sexual abuse
committed by priests.

The Diocese of Gallup became one of 13 U.S. dioceses that have
filed for bankruptcy in response to civil lawsuits filed against
the diocese on behalf of alleged victims of sexual abuse by
priests.

The petition shows assets and debt both less than $1 million.


ENERGY & EXPLORATION: US Trustee Says Disclosures Lack Information
------------------------------------------------------------------
BankruptcyData reported that the U.S. Trustee assigned to Energy &
Exploration Partners case filed with the U.S. Bankruptcy Court an
objection to the Debtors' Disclosure Statement.

The U.S. Trustee asserts, "The Disclosure Statement does not
provide adequate information regarding the Debtors' post-effective
date management; proposed management incentive plan; or litigation
trust.  The Disclosure Statement also has no liquidation analysis,
valuation, or financial projections.  While the Debtors anticipate
providing this information by April 1, 2016, through a Plan
Supplement, such information would be provided after the Disclosure
Statement hearing on March 18, 2016, and after the commencement of
solicitation service on March 21, 2016.

Given that creditors need this information to evaluate plan
feasibility, the Court must deny both the relief requested in the
Plan Solicitation Motion and approval of the Disclosure
Statement."

                   About Energy & Exploration

Energy & Exploration Partners, Inc., Energy & Exploration
Partners, LLC and Energy & Exploration Partners Operating GP, LLC
filed Chapter 11 bankruptcy petitions (Bankr. N.D. Tex. Proposed
Lead Case No. 15-44931) on Dec. 7, 2015.  John R. Castellano signed
the petition as interim chief financial officer.  Judge Russell F.
Nelms has been assigned the case.

The Debtors own approximately 61,323 net acres in Texas and
Wyoming.  In Texas, the Debtors' operations are located throughout
Madison, Grimes, Leon, Houston and Walker Counties, where the
Debtors are pursuing opportunities in the Buda-Rose stacked
comingled play, the Woodbine sandstone, the Eagle Ford shale and
other stacked formations in the region.  As of the Petition Date,
the Debtors employ approximately 59 people across their various
operations.

The Debtors have engaged Bracewell & Giuliani, LLP as counsel,
Evercore Group LLC as financial advisor, AP Services, LLC as
restructuring advisor, Ernst & Young as tax advisor, Hein &
Associates as independent auditor and Prime Clerk LLC as notice,
claims and balloting agent.


ENERGY FUTURE: Enters Into Additional Agreements with KPMG
----------------------------------------------------------
Energy Future Competitive Holdings Company LLC, et al., on March 3,
2016, served their ninth notice of entry into additional agreements
with KPMG LLP.  

The Debtors in September 2014 won approval to hire KPMG as
bankruptcy accounting and tax advisors, nunc pro tunc to the
Petition Date.  In December 2014, the Debtors won approval to
expand the employment of KPMG to include IT services necessary to
maintain the Debtors' technological infrastructure.  On Feb. 4,
2015, the Debtors won an order establishing procedures, which
require the Debtors to file a notice with the Court of any
additional agreements and statements of work that expand the scope
of retention and employment of KPMG.

The additional agreement provides that KPMG will, among other
things, assist the Debtors' tax department with providing tax
consulting services with respect to determining whether certain
costs incurred by EFH Corporate Services Company and paid to its
advisors during bankruptcy are deductible and amortizable or
capitizable for U.S. federal income tax purposes.  The fees to be
paid to KPMG will be based on the discounted hourly rates for the
individuals involved, not to exceed $500,000.  The discounted
professional and support staff fee schedule is as follows:

                                    Hourly Rate
                                    -----------
        Partner/Principal              $720
        Tax Managing Director          $680
        Senior Manager                 $660
        Manager                        $560
        Senior Associate               $420
        Associate                      $260

The parties have also agreed that KPMG will assist EFH Corporate
Services Company personnel in supporting key implementation
activities related to the Company's ongoing IT compliance
improvement efforts.  KPMG will assist the Company's newly formed
IT Regulatory Compliance (ITRC) department with respect to TXU
Energy (TXUE), Luminant and EFH Corporate Services control
environments.  The estimated effort for this project is 1,000 to
1,400 hours with related professional fees of $210,000 to $275,000
and the project is not authorized to exceed $275,000.  KPMG will
only bill for hours spent performing substantive services for the
Company.  The Company will compensate KPMG based on this schedule:

                                    Hourly Rate
                                    -----------
        Partner/Principal              $325
        Director/Senior Manager        $290
        Manager                        $250
        Senior Associate               $190
        Associate                      $125

                       About Energy Future

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

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

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

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

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

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

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

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

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

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


FEDERAL RESOURCES: Creditor Backs Conversion to Chapter 7
---------------------------------------------------------
Caldera Mineral Resources, LLC and Caldera Holdings, LLC said they
support the motion of the Chapter 11 trustee for Federal Resources
Corporation, and Camp Bird Colorado, Inc., to convert the Debtors'
Chapter 11 cases to liquidation under Chapter 7 of the Bankruptcy
Code.

As reported in the Feb. 19, 2016 edition of the TCR, Caldera, one
of the largest creditors of FRC, succeeded in its bid to oust
management of FRC after accusing the company's principal of
accepting money from a drug dealer and allowing a marijuana
plantation at its Camp Bird Mine property in Ouray, Colorado.  The
Court on Jan. 28, 2016, entered an order directing the U.S. Trustee
to appoint a Chapter 11 trustee.

Thereafter, Duane H. Gillman, the Chapter 11 Trustee, filed a
motion asking the Bankruptcy Court to convert the cases to cases
under Chapter 7 of the Bankruptcy Code.  The Trustee submits that a
liquidation process can be pursued as effectively and for less cost
in a chapter 7 case under the direction of a trustee.

According to the Trustee, the Plan filed by the Debtors is a
liquidating plan as it proposes to auction Camp Bird's assets and
to have a "Liquidating Agent" to distribute the sale proceeds, any
sums that may be recovered from litigation initiated by the
Debtors, and any other amounts the Liquidating Agent might recover.
There are no alternative plans to the liquidation of the assets of
the Debtors estate that would serve for the best interests of
creditors and the estate than to convert the case, the Trustee
added.

Chapter 11 Trustee Duane H. Gillman is represented by:

         Duane H. Gillman, Esq.
         Penrod W. Keith, Esq.
         DURHAM JONES & PINEGAR
         PO Box 4050
         Salt Lake City, UT 84110
         Telephone: (801) 415-3000
         Facsimile: (801) 415-3500
         E-mail: dgillgan@djplaw.com
                 pkeith@djplaw.com

                      About Federal Resources

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

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

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

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

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

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

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

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

                        *     *     *

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

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

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

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


FILENE'S BASEMENT: Resolves Disputes with Former CEO
----------------------------------------------------
Trinity Place Holdings Inc. on March 15 disclosed that it has
amicably resolved all disputes with Marcy Syms, former CEO and
former Chair of the Board of Directors of Syms Corp., including Ms.
Syms' claims for severance and pre-petition wages filed in Syms
Corp.'s Chapter 11 Case.

Trinity also disclosed that, in connection with court approval of
the settlement with Ms. Syms, reorganized Syms Corp., now known as
Trinity, and Filene's Basement, LLC, will achieve a General
Unsecured Claim Satisfaction under the Plan, culminating a
successful reorganization of their assets and liabilities from the
bankruptcy cases filed in 2011.

                  About Filene's Basement, LLC

Massachusetts-based Filene's Basement, also called The Basement,
was the oldest off-price retailer in the United States.  The
Basement focuses on high-end goods and is known for its
distinctive, low-technology automatic markdown system.

Filene's Basement first filed for Chapter 11 bankruptcy protection
in August 1999.  Filene's Basement was bought by a predecessor of
Retail Ventures, Inc., the following year.  Retail Ventures in
April 2009 transferred the unit to Buxbaum.

Filene's Basement, Inc. and its affiliates filed for Chapter 22
(Bankr. D. Del. Case No. 09-11525) on May 4, 2009, represented by
lawyers at Pachulski Stang Ziehl & Jones LLP.  Epiq Bankruptcy
Solutions serves as claims and notice agent.  The Debtors disclosed
assets of $236 million, including real estate of $97.7 million, and
liabilities of $94 million, including $31.1 million owing on a
revolving credit with Bank of America NA as agent.  In addition,
there were $11.1 million in letters of credit
outstanding on the revolver.

The 2009 Debtor was formally renamed FB Liquidating Estate,
following the sale of all of its assets to Syms Corp. in June
2009.

Pursuant to the Liquidating Plan confirmed in January 2010, secured
creditors in the Chapter 11 case have been paid in full, and
holders of priority, administrative and convenience class claims
have received 100% of their allowed claims.  As reported by the
Troubled Company Reporter on Dec. 20, 2010, Alan Cohen, Chairman of
Abacus Advisors LLC and Chief Restructuring Officer for FB
Liquidating Estate disclosed that a second distribution of dividend
checks to Filene's unsecured creditors amounting to 12.5% of
approved claims has been made, bringing the cumulative
distributions on unsecured claims to 62.5%.

On Nov. 2, 2011, Syms Corp. placed itself, Filene's Basement and
two other units in Chapter 11 bankruptcy (Bankr. D. Del. Case Nos.
11-13511 to 11-13514) after a failed bid to sell the business.
The two units are Syms Clothing Inc. and Syms Advertising Inc.

Judge Kevin J. Carey presides over the case.  Lawyers at Skadden
Arps Slate Meagher & Flom LLP serve as the Debtors' counsel.  The
Debtors tapped Rothschild Inc. as investment banker and Cushman
and Wakefield Securities, Inc., as real estate financial advisors.

Syms shuttered its namesake and Filene's Basement outlets upon the
bankruptcy filing and tapped a joint venture of Gordon Brothers
Retail Partners LLC and Hilco Merchant Resources LLC to run the
going-out-of-business sales.  

Filene's Basement estimated $1 million to $10 million in assets and
$50 million to $100 million in debts.  The petitions were signed by
Gary Binkoski, authorized representative of Filene's Basement.

The official committee of unsecured creditors appointed in the 2011
case retained Hahn & Hessen LLP as legal counsel.

Holders of equity in Syms Corp. pushed for an official
shareholders' committee and separation of the Syms and Filene's
Basement bankruptcy estates.

Gordon Brothers and Hilco were represented by Goulston & Storrs,
P.C. and Ashby & Geddes, P.A.

On August 30, 2012 the Court entered the Order Confirming the
Modified Second Amended Joint Chapter 11 Plan of Reorganization of
Syms Corp. and its subsidiaries.  The Plan provides that holders
of
Class 4 general unsecured claims of Filene's Basement, LLC will
receive 100% payment in cash, and holders of Class 5 lease
rejection claims of Filene's Basement, LLC will receive 75%
payment
in cash.


FILMED ENTERTAINMENT: Has Access to Cash Collateral Until May 31
----------------------------------------------------------------
Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the
Southern District of New York issued a final order authorizing
Filmed Entertainment Inc., to use cash collateral securing its
prepetition indebtedness to HCL America, Inc.

The Debtor is authorized to use cash collateral through the earlier
of (a) the occurrence of a "termination event"; (b) May 31, 2016;
or (c) the effective date of the Chapter 11 Plan pursuant to
section 1141, unless extended by order of the Court.

On Oct. 15, 2013, HCL America, Inc., commenced an action against
the Debtor in the Supreme Court of the State of New York, County of
New York, seeking, inter alia, payment of outstanding invoices of
approximately $4.6 million, plus interest, attorney's fees, and
collection costs.  On July 22, 20154, the Debtor reached a
Settlement Agreement with HCL, pursuant to which the Debtor agreed
to remit to HCL an aggregate amount of $3 million, secured by all
assets of the Debtor, including accounts receivable, equipment,
cash, intellectual property rights, and any other tangible and
intangible property.

As adequate protection, HCL is granted superpriority claims,
adequate protection liens and liens senior to other liens.  In
addition, the Debtor will pay an adequate protection payment of
$25,000 to HCL on the first of each month.

A full-text copy of the Final Cash Use Order dated Feb. 25, 2016,
is available at http://is.gd/2ln11K

                  About Filmed Entertainment Inc.

Filmed Entertainment Inc. owns and operates the "Columbia House
DVD
Club," a direct-to-customer distributor of movies and television
series in the United States.  FEI conducts its business through
physical catalogues and through the --
http://www.columbiahouse.com/Web site.  FEI was historically   
active in the musical compact disc business, but exited the music
business in 2010.  Founded in 1955 as a division of CBS Inc. to
sell vinyl records and cassette tapes, FEI is a unit of Pride Tree
Holdings, Inc., which acquired FEI in December 2012.

On Aug. 10, 2015 FEI filed a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code (Bankr. S.D.N.Y.
Case No. 15-12244) in Manhattan, New York.  The case is pending
before the Honorable Shelley C. Chapman.

The Debtor tapped Griffin Hamersky P.C. as counsel and Prime Clerk
LLC as claims and noticing agent.

The Debtor estimated assets of $1 million to $10 million and debt
of $50 million to $100 million.

The U.S. Trustee for Region 2 appointed five creditors of Filmed
Entertainment to serve on the official committee of unsecured
creditors.


FORESIGHT ENERGY: Reports $39.5 Million Net Loss for 2015
---------------------------------------------------------
Foresight Energy LP filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
attributable to limited partner units of $39.47 million on $984.85
million of total revenues for the year ended Dec. 31, 2015,
compared to net income attributable to limited partner units of
$70.19 million on $1.10 billion of total revenues for the year
ended Dec. 31, 2014.

As of Dec. 31, 2015, Foresight had $1.83 billion in total assets,
$1.81 billion in total liabilities and $18.88 million in total
partners' capital.

For the three months ended Dec. 31, 2015, the Company reported a
net loss attributable to limited partner units of $64.42 million on
$241.65 million of total revenues compared to net income
attributable to limited partner units of $29.05 million on $300.04
million of total revenues for the same period in 2014.

Ernst & Young LLP, in St. Louis, Missouri, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, noting that the Partnership is in default of
certain provisions of its long-term debt and capital lease
obligations, resulting in a working capital deficit as of Dec. 31,
2015.  These conditions raise substantial doubt about the
Partnership's ability to continue as a going concern.

                     Update on Debt Defaults

As reported previously, on Dec. 4, 2015, the Delaware Court of
Chancery issued a memorandum opinion concluding, among other
things, that certain transactions with Murray Energy resulted in a
"change of control" under the 2021 Senior Notes indenture and that
an event of default occurred when the Company failed to offer to
purchase the Notes.  Currently, the Company is negotiating an
out-of-court restructuring with certain holders of the Notes and
our other creditors.  

The Company has entered into forbearance agreements with respect to
the Notes as well as the lenders under its securitization program.
Under these agreements, the Noteholders and lenders have agreed to
forbear from exercising certain rights and remedies to which they
may be entitled.  Both of these agreements remain in effect through
March 15, 2016, unless extended by the respective parties.  The
Company has not entered into forbearance agreements with the
lenders under its Credit Agreement or the lenders under its
equipment financing arrangements or capital lease obligations. The
lenders under these facilities may exercise any remedies available
to them at any time.  

As disclosed in its Annual Report on Form 10-K, the Company said,"
[O]ther events of default with respect to our Notes and other debt
agreements have occurred or may occur in the future, and we may be
unable to reach an agreement on the terms of an out-of-court
restructuring with our Noteholders and other lenders."

"If an agreement on the terms of an out-of-court restructuring is
not reached with our Noteholders and other lenders, it may be
necessary for us to file a voluntary petition for relief under
Chapter 11 of the United States Bankruptcy Code in order to
implement a restructuring, or our creditors could force us into an
involuntary bankruptcy.  If a plan of reorganization is implemented
in a bankruptcy proceeding, it is likely that our equity holders
would be entitled to little or no recovery, and their claims and
interests would be canceled for little or no consideration."

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

                     http://is.gd/6cC41R

                    About Foresight Energy

Foresight Energy mines and markets coal from reserves and
operations located exclusively in the Illinois Basin.  
As of Dec. 31, 2015, the Company has invested over $2.3 billion to
construct state-of-the-art, low-cost and highly productive mining
operations and related transportation infrastructure.  The Company
controls over 3 billion tons of proven and probable coal in the
state of Illinois, which, in addition to making the Company one of
the largest reserve holders in the United States, provides organic
growth opportunities.  The Company's reserves consist principally
of three large contiguous blocks of uniform, thick, high heat
content (high Btu) thermal coal which is ideal for highly
productive longwall operations.  Thermal coal is used by power
plants and industrial steam boilers to produce electricity or
process steam.


FOREST PARK MEDICAL CENTER: Schedules Deadline Moved to March 20
----------------------------------------------------------------
Forest Park Medical Center, LLC, sought and obtained a 14-day
extension until March 20, 2016, of the deadline to file schedules
of assets and liabilities and statements of financial affairs.

Due to the large number of parties in interest (in excess of 600)
and nature of the case, the Debtor has had difficulty in compiling
the necessary information for the Schedules.  Therefore, the Debtor
and Debtor's counsel require the 14 days to complete the
Schedules.

The Debtor's creditor meeting is originally scheduled for March 18,
2016.  The Debtor's counsel has multiple creditor meetings on this
date that are set in the Northern District, Fort Worth Division.
Accordingly, the Debtor's counsel has contacted the United States
Trustee's office and requested that the U.S.C. Sec. 341 meeting be
moved to April 1, 2016.  Because of this change in date, the Debtor
expects that the proposed delay will still enable creditors and the
Office of the United States Trustee to review the Schedules in
advance of the new creditors' meeting.

                         About Forest Park

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.  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. Howard
Marc Spector, Esq., at Spector & Johnson PLLC, serves as counsel to
the Debtor.


FOREST PARK MEDICAL CENTER: Seeks to Move 341 Meeting to April 1
----------------------------------------------------------------
In the case of Forest Park Medical Center, LLC, a meeting of
creditors under 11 U.S.C. Sec. 341(a) was scheduled to be held
March 18, 2016, at 1:30 p.m. at SMU in Plano, Texas.

The Debtor's counsel said in a court filing it has multiple
creditor meetings on March 18 that are set in the Northern
District, Fort Worth Division.  Accordingly, the Debtor's counsel
contacted the United States Trustee's office and requested that the
Debtor's 341 meeting be moved to April 1, 2016.

According to the notice, creditors are required to send proofs of
claim by June 16, 2016.  Governmental entities are required to
submit their proofs of claim by August 19, 2016.

                         About Forest Park

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.  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. Howard
Marc Spector, Esq., at Spector & Johnson PLLC, serves as counsel to
the Debtor.


FOREST PARK SOUTHLAKE: Agrees to Offset $318,709 to TCB Collateral
------------------------------------------------------------------
Forest Park Medical Center at Southlake, LLC, and Texas Capital
Bank, N.A., ask the U.S. Bankruptcy Court to approve their
stipulation modifying the automatic stay to allow TCB to sweep and
apply collections from prepetition accounts and offset cash
collateral pledged to TCB in the amount of $318,709, the amount TCB
paid to CIT Finance, LLC, in honor of TCB's Letter of Credit
LC1358.

Pursuant to the Agreed Order, the Parties stipulate, among other
things, that funds deposited in the TCB Accounts, which the Parties
identify as "payments on accounts arising from services provided by
the Debtor prior to the Petition Date" will be swept from the TCB
Accounts and applied against the balance of the debt due under the
TCB Revolving Loan and Equipment Loan, with those amounts to be
applied in the order provided in TCB's loan documents.

The Debtor has also agreed that it will not seek to use TCB's cash
collateral and instead will fund its postpetition operations from
proceeds of the GAHC3 DIP Loan.  Accordingly, reducing the TCB
Revolving Loan and Equipment Loan balances will reduce the
potential accrual of postpetition interest, fees and charges.

Furthermore, allowing TCB to offset the cash collateral pledged to
TCB in the course of honoring the Letters of Credit causes no
prejudice to other creditors nor disruption of the Debtor’s
efforts to reorganize. Likewise, it will avoid the incurrence of
unnecessary interest expense.

Forest Park Medical Center at Southlake, LLC, is represented by:

     Stephen M. Pezanosky, Esq.
     Ian T. Peck, Esq.
     Jarom Joseph Yates
     HAYNES AND BOONE, LLP
     2323 Victory Avenue, Suite 700
     Dallas, TX 75219
     Telephone: (214) 651-5000
     Facsimile: (214) 651-5840
     Email: stephen.pezanosky@haynesboone.com
            ian.peck@haynesboone.com
            Jarom.yates@haynesboone.com

Texas Capital Bank, N.A. is represented by:

     J. Mark Chevallier, Esq.
     David L. Woods, Esq.
     James G. Rea, Esq.
     McGUIRE, CRADDOCK & STROTHER, P.C.
     2501 N. Harwood, Suite 1800
     Dallas, Texas 75201
     Telephone: (214) 954-6800
     Facsimile: (214) 954-6850
     Email: mchevallier@mcslaw.com
            dwoods@mcslaw.com
            jrea@mcslaw.com

        About Forest Park Medical Center

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

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

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

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


FORTRESS RESOURCES: Court Approves Hicok Fern as Special CPA
------------------------------------------------------------
Fortress Resources, LLC, dba McCoy Elkhorn Coal Company sought and
obtained permission from the Hon. Tracey N. Wise of the U.S.
Bankruptcy Court for the Eastern District of Kentucky to employ
Karen L. Jackson and Hicok, Fern & Company as special CPA for the
Debtor for the limited purpose of performing the 2015 audit of the
"Fortress Resources, LLC 401(k) Plan" in order to file Form 5500
with the Employee Benefits Security Administration of the
Department of Labor and to close out the Debtor's responsibility
for said Plan.

Ms. Jackson shall serve and file interim and final fee applications
for allowance of the fees and expenses payable under the terms of
the engagement letter.

Ms. Jackson and Hicok Fern will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Ms. Jackson 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.

Hicok Fern can be reached at:

       Karen L. Jackson
       Hicok, Fern & Company
       155 Valley St NE
       Abingdon, VA 24210
       Tel: (276) 628-1123

                     About Fortress Resources

Fortress Resources, LLC is the US-operating entity of
Canadian-based Opes Resources, Inc.  Fortress acquired a portion of
the former assets of McCoy Elkhorn Coal Corporation (an operating
affiliate of James River Coal Company) on September 5, 2014,
primarily the Bevins Branch Preparation Plant and Loading Facility
with its associated mine complexes.  Fortress operated the mines
and plants under McCoy Elkhorn Coal Company with the federal and
state regulatory agencies.

Due to depressed market conditions, Fortress sought Chapter 11
bankruptcy protection (Bankr. E.D. Ky. Case No. 15-70730) on Nov.
5, 2015.  The petition was signed by Gary J.Smith as president and
CEO.  

The Debtor listed total assets of $98.3 million and total
liabilities of $31.3 million.

The Debtor has engaged Bunch & Brock as counsel.

Samuel K. Crocker, United States Trustee on Nov. 16, 2015,
appointed three creditors to serve on the Official Committee of
Unsecured Creditors.  The Committee retained McGuirewoods LLP and
Bingham Greenebaum Doll LLP as attorneys.

                        *     *     *

Fortress Resources, LLC, ceased all mining operations on Jan. 22,
2016, and then filed a Chapter 11 plan that contemplates an orderly
liquidation of all assets.



FREE GOSPEL: U.S. Trustee Seeks Dismissal of Ch. 11 Case
--------------------------------------------------------
Judy A. Robbins, the United States Trustee for Region 4, asks the
U.S. Bankruptcy Court to dismiss the bankruptcy case of Free Gospel
of the Apostles' Doctrine because the Debtor has failed to file
monthly operating reports and is delinquent in paying quarterly
fees.

The U.S. Trustee tells to the Court that the Debtor is three months
delinquent in filing monthly operating reports since the Debtor
filed its last monthly operating report for October 2015.  The U.S.
Trustee asserts that MORs are critical to the transparency of
information at the heart of an effective and efficient bankruptcy
system as these are the primary means through which the Creditors,
the Court, the Office of the U.S. Trustee, and all parties in
interest can monitor the Debtor’s post-petition operations and
finances and failure to file monthly operating reports undermines
the Chapter 11 process.

In addition, the U.S. Trustee alleges that the Debtor is delinquent
in paying its quarterly fees for which the Debtor owes an estimated
$1,625 in quarterly fees which may increase after the Debtor files
its monthly operating reports. Accordingly, the U.S. Trustee claims
that there is only one alternative in this case - dismissal -
because a nonprofit corporation could not be forced to convert to a
Chapter 7 liquidation.

The Court has scheduled a hearing on Trustee’s Motion to Dismiss
for March 28, 2016.

Judy A. Robbins, the United States Trustee for Region 4, is
represented by:

     Lynn A. Kohen, Esq.
     Trial Attorney
     OFFICE OF THE U.S. TRUSTEE
     6305 Ivy Lane, Suite 600
     Greenbelt, Maryland 20770
     Telephone: (301) 344-6216
     Facsimile: (301) 344-8431
     E-mail: lynn.a.kohen@usdoj.gov

         About The Free Gospel

The Free Gospel of the Apostles' Doctrine, a non-profit, was
founded Feb. 9, 1996 as a Pentecostal denominational church.

Free Gospel is closely connected with F.G. Development Corporation.
F.G. Development guaranteed a loan to SMS Financial XXVI, LLC
("SMS") that was made to and for the benefit of Free Gospel.  After
Free Gospel defaulted on the loan, SMS looked to F.G. Development
for payment.

To stop SMS's collection efforts, The Free Gospel of the Apostles'
Doctrine filed a Chapter 11 bankruptcy petition (Bankr. D. Md. Case
No. 15-18209) on June 9, 2015.   The petition was signed by
Antoinette Green-Snow as executive administrator.  The Debtor
estimated assets of $10 million to $50 million and debts of $1
million to $10 million.  Frank Morris, II, Esq., at Law Office of
Frank Morris II, serves as the Debtor's counsel.

On June 9, 2015, F.G. Development also filed bankruptcy (Case No.
15-18210), estimating $1 million to $10 million in assets.  F.G. is
also represented by the Law Office of Frank Morris II.

Free Gospel and F.G. did not seek joint administration of their
Chapter 11 cases.


FREEDOM COMMS: U.S. Seeks to Halt Tribune Deal, Cites Monopoly
--------------------------------------------------------------
The U.S. government on March 17 filed a lawsuit in U.S. District
Court in Los Angeles, Calif. to bar Tribune Publishing Company from
closing its acquisition of Freedom Communications' assets.

Tribune owns the Los Angeles Times and the San Diego Union-Tribune.
If the sale pushes through, Tribune will acquire from Freedom the
Orange County Register and the Riverside Press-Enterprise and other
assets for $56 million.

The U.S. government says Tribune and Freedom compete today for
newspaper readers and advertisers in Orange County and Riverside
County. The proposed acquisition would immediately end that
competition and leave Tribune with a monopoly in daily newspaper in
these counties. This is prohibited by Section 7 of the Clayton Act,
15 U.S.C. Sec. 18, the government argues.

The government also notes at least two bidders other than Tribune
submitted bids for Freedom and its newspaper assets but, unlike
Tribune, neither of the alternative bidders for Freedom would
threaten competition in Orange County or Riverside County. The
government says it notified Freedom and Tribune before the auction
that awarding the bid to Tribune would raise serious antitrust
issues that did not exist with the other reported bidders.

The government is asking the District Court to issue a temporary
restraining order.  "Tribune's dominant  position in both Orange
County and Riverside County would allow it to, among other harmful
effects, increase subscription prices and advertising rates to
businesses targeting readers in those areas. Overall, Tribune would
own the four local daily newspapers with the highest circulation in
Southern California," it said.

The United States of America is acting under the direction of the
Attorney General.

The case is, UNITED STATES OF AMERICA, Case No. Plaintiff, v.
TRIBUNE PUBLISHING CO., Defendant, Case 2:16-cv-01822 (C.D. Cal.,
March 17, 2016)

The government is represented by:

     William J. Baer, Esq.
     Renata B. Hesse, Esq.
     David I. Gelfand, Esq.
     Patricia A. Brink, Esq.
     David C. Kully, Esq.
     Ethan C. Glass, Esq.
     William H. Jones Ii, Esq.
     Thomas E. Carter, Esq.
     Robin Crauthers, Esq.
     Nathan P. Sutton, Esq.
     Jeffrey G. Vernon, Esq.
     U.S. DEPARTMENT OF JUSTICE ANTITRUST DIVISION
     450 5th Street N.W.
     Washington, D.C. 20001
     Telephone: 202-514-0230
     Facsimile: 202-514-7308
     E-mail: bill.jones2@usdoj.gov

                         About Tribune Co.

Chicago, Illinois-based Tribune Co. -- http://www.tribune.com/--  
and 110 of its affiliates filed for Chapter 11 protection (Bankr.
D. Del. Lead Case No. 08-13141) on Dec. 8, 2008.  The Debtors
proposed Sidley Austin LLP as their counsel; Cole, Schotz, Meisel,
Forman & Leonard, PA, as Delaware counsel; Lazard Ltd. and Alvarez
& Marsal North America LLC as financial advisors; and Epiq
Bankruptcy Solutions LLC as claims agent.  As of Dec. 8, 2008, the
Debtors listed $7,604,195,000 in total assets and $12,972,541,148
in total debts.  Chadbourne & Parke LLP and Landis Rath LLP served
as co-counsel to the Official Committee of Unsecured Creditors.
AlixPartners LLP served as the Committee's financial advisor.
Landis Rath Moelis & Company served as the Committee's investment
banker.  Thomas G. Macauley, Esq., at Zuckerman Spaeder LLP, in
Wilmington, Delaware, represented the Committee in connection with
the lawsuit filed against former officers and shareholders for the
2007 LBO of Tribune.

Protracted negotiations and mediation efforts and numerous
proposed plans of reorganization filed by Tribune Co. and
competing creditor groups delayed Tribune's emergence from
bankruptcy.  Many of the disputes among creditors center on the
2007 leveraged buyout fraudulence conveyance claims, the
resolution of which is a key issue in the bankruptcy case.

Judge Kevin J. Carey issued an order dated July 13, 2012,
overruling objections to the confirmation of Tribune Co. and its
debtor affiliates' Plan of Reorganization.  In November 2012,
Tribune received approval from the Federal Communications
Commission to transfer media licenses, one of the hurdles to
implementing the reorganization plan.  Aurelius Capital Management
LP failed in halting implementation of the plan pending appeal.

Tribune Co. exited Chapter 11 protection Dec. 31, 2012, ending
four years of reorganization.  The reorganization allowed a group
of banks and hedge funds, including Oaktree Capital Management and
JPMorgan Chase & Co., to take over the media company.

                   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.


FREEDOM COMMUNICATIONS: Court Hearing on Sale to Tribune March 21
-----------------------------------------------------------------
Tribune Publishing Co. on March 17 disclosed that it, through its
subsidiary Orange County Media, LLC, was the successful bidder at a
public bankruptcy auction to acquire substantially all of the
assets of Freedom Communications, Inc.  Under the terms of the bid,
Tribune Publishing has agreed to pay $56 million in cash for the
business of Freedom Communications and its owned real estate in
Santa Ana, California and Riverside, California.

Tribune Publishing's successful bid is subject to Bankruptcy Court
approval at a hearing that is currently scheduled for March 21,
2016.  The transaction is subject to customary closing conditions.

"The successful bid for the business of Freedom Communications will
allow the Orange County Register and the Press-Enterprise to
continue providing a distinct local voice in their communities and
deliver premium news and information to consumers across Southern
California," said Justin Dearborn, CEO of Tribune Publishing.

                   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.


FREEDOM COMMUNICATIONS: Tribune Wins Auction With $56M Offer
------------------------------------------------------------
Tribune Publishing Company is the winning bidder for Freedom
Communications' assets in a bankruptcy auction held March 16, 2016
and is scheduled to seek bankruptcy court approval of its
acquisition on March 21, 2016.

Tribune owns the Los Angeles Times and the San Diego Union-Tribune.
If the sale pushes through, Tribune will acquire from Freedom the
Orange County Register and the Riverside Press-Enterprise and other
assets for $56 million.

The Troubled Company Reporter previously reported that Freedom
selected a $45.5 million offer from Digital First Media as stalking
horse bidder.

Under that stalking horse agreement, Freedom promised to pay
Digital First a $200,000 fee if the Debtor decides to close a deal
with another buyer.

Digital First's largest shareholder is private equity firm Alden
Global Capital LLC.

Attorneys for Tribune Publishing Company:

     Jeremy E. Rosenthal, Esq.
     Helena G. Tseregounis, Esq.
     SIDLEY AUSTIN LLP
     555 West Fifth Street, Suite 4000
     Los Angeles, California 90013
     Telephone: (213) 896-6000
     Facsimile: (213) 896-6600
     E-mail: jrosenthal@sidley.com
             htseregounis@sidley.com

          - and -

     Kenneth P. Kansa, Esq.
     SIDLEY AUSTIN LLP
     One South Dearborn Street
     Chicago, Illinois 60603
     Telephone: (312) 853-7000
     Facsimile: (312) 853-7036
     E-mail: kkansa@sidley.com

                         About Tribune Co.

Chicago, Illinois-based Tribune Co. -- http://www.tribune.com/--  
and 110 of its affiliates filed for Chapter 11 protection (Bankr.
D. Del. Lead Case No. 08-13141) on Dec. 8, 2008.  The Debtors
proposed Sidley Austin LLP as their counsel; Cole, Schotz, Meisel,
Forman & Leonard, PA, as Delaware counsel; Lazard Ltd. and Alvarez
& Marsal North America LLC as financial advisors; and Epiq
Bankruptcy Solutions LLC as claims agent.  As of Dec. 8, 2008, the
Debtors listed $7,604,195,000 in total assets and $12,972,541,148
in total debts.  Chadbourne & Parke LLP and Landis Rath LLP served
as co-counsel to the Official Committee of Unsecured Creditors.
AlixPartners LLP served as the Committee's financial advisor.
Landis Rath Moelis & Company served as the Committee's investment
banker.  Thomas G. Macauley, Esq., at Zuckerman Spaeder LLP, in
Wilmington, Delaware, represented the Committee in connection with
the lawsuit filed against former officers and shareholders for the
2007 LBO of Tribune.

Protracted negotiations and mediation efforts and numerous
proposed plans of reorganization filed by Tribune Co. and
competing creditor groups delayed Tribune's emergence from
bankruptcy.  Many of the disputes among creditors center on the
2007 leveraged buyout fraudulence conveyance claims, the
resolution of which is a key issue in the bankruptcy case.

Judge Kevin J. Carey issued an order dated July 13, 2012,
overruling objections to the confirmation of Tribune Co. and its
debtor affiliates' Plan of Reorganization.  In November 2012,
Tribune received approval from the Federal Communications
Commission to transfer media licenses, one of the hurdles to
implementing the reorganization plan.  Aurelius Capital Management
LP failed in halting implementation of the plan pending appeal.

Tribune Co. exited Chapter 11 protection Dec. 31, 2012, ending
four years of reorganization.  The reorganization allowed a group
of banks and hedge funds, including Oaktree Capital Management and
JPMorgan Chase & Co., to take over the media company.

                   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.


FREESEAS INC: Special Meeting of Shareholders Set for April 8
-------------------------------------------------------------
FreeSeas Inc. notified shareholders that a special meeting will be
held on April 8, 2016, at the principal executive offices of
FreeSeas Inc. at 10, Eleftheriou Venizelou Street (Panepistimiou
Ave.) 106 71, Athens, Greece, at 17:00 Greek time/10:00 am Eastern
Standard Time.  The purpose of the Special Meeting is as follows:

  1. To grant discretionary authority to the Company's board of
     directors to (A) amend the Amended and Restated Articles of
     Incorporation of the Company to effect one or more
     consolidations of the issued and outstanding shares of common
     stock, pursuant to which the shares of common stock would be
     combined and reclassified into one share of common stock
     ratios within the range from 1-for-2 up to 1-for-200 and (B)
     determine whether to arrange for the disposition of
     fractional interests by shareholder entitled thereto, to pay
     in cash the fair value of fractions of a share of common
     stock as of the time when those entitled to receive such
     fractions are determined, or to entitle shareholder to
     receive from the Company's transfer agent, in lieu of any
     fractional share, the number of shares of common stock
     rounded up to the next whole number, provided that, (X) that
     the Company shall not effect Reverse Stock Splits that, in
     the aggregate, exceeds 1-for-200, and (Y) any Reverse Stock
     Split is completed no later than the first anniversary of the

     date of the Special Meeting.

  2. To ratify the potential issuance of more than 20% of the
     Company's issued and outstanding common stock at a price that
     is less than the greater of book or market value in
     accordance with (i) a securities purchase agreement between
     the Company and MTR3S Holding Ltd., dated March 1, 2016 (the
     "March 2016 Private Placement"); (ii) a debt settlement
     agreement and release between the Company and Intermodal
     Shipbrokers Co., dated Jan. 19, 2016 (the "Intermodal Private
     Placement"); (iii) a securities purchase agreement between
     the Company and Mordechai Vizel, dated Jan. 19, 2016 (the
     "Vizel Private Placement"); (iv) a securities purchase
     agreement between the Company and Alpha Capital Anstalt,
     dated Jan. 6, 2016; (v) a debt settlement agreement between
     the Company and Sichenzia Ross Friedman Ference LLP, dated
     Oct. 7, 2015 (the "October 2015 Private Placement"); and (vi)
     a securities purchase agreement between the Company and
     Service Trading Company, LLC, dated Aug. 20, 2015 (the
     "August 2015 Private Placement"); and

  3. To approve the potential issuance of more than 20% of the
     Company's issued and outstanding common stock at a price that
     is less than the greater of book or market value in
     accordance with the following potential future transactions:
    (i) one or multiple purchase agreements for the sale of common
     stock or securities convertible into common stock up to $2
     million for working capital at a discount to the market price

     of up to 50%, to be entered into within 180 days of the
     Special Meeting (the "Future Working Capital Private
     Placement"), (ii) one or multiple debt settlement agreements
     for the sale of common stock or securities convertible into
     common stock of up to $6 million for the settlement of trade
     or bank debt at a discount to the market price of up to 50%,
     to be entered into within 180 days of the Special Meeting
     (the "Future Debt Settlement Private Placement"), and (iii) a
     purchase agreement for the sale of common stock or securities

     convertible into common stock up to $15 million for asset
     acquisitions at a discount to the market price of up to 65%,
     to be entered into within 180 days of the Special Meeting
     (the "Future Asset Acquisition Private Placement", and
     collectively with the Future Working Capital Private
     Placement and the Future Debt Settlement Private Placement,
     the "Future Private Placements").

The Company's Board of Directors has fixed the close of business on
March 14, 2016, as the record date for determining those
shareholders entitled to notice of, and to vote at, the Special
Meeting and any adjournments or postponements thereof.

                     About FreeSeas Inc.

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

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

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

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

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


FUHU INC: Cooley LLP Approved as Lead Counsel for Committee
-----------------------------------------------------------
The Hon. Christopher R. Sontchi of the U.S. Bankruptcy Court for
the District of Delaware authorized the Official Committee of
Unsecured Creditors in the Chapter 11 cases of FUHU, Inc. et al.,
to retain Cooley LLP as its lead counsel nunc pro tunc to Dec. 16,
2015.

Cooley, as lead counsel, is expected to, among other things:

   1) assist in the efforts to sell assets of the Debtors in a
manner that maximizes value for creditors;

   2) review and investigate the liens of purportedly secured
parties; and

   3) review and investigate prepetition transactions in which the
Debtors and their lenders were involved.

Jay R. Indyke, a member of the law firm of Cooley LLP, which an
office located at 1114 Avenue of the Americas, New York City, tells
the Court that the current hourly rates of the Cooley professionals
anticipated to be staffed on the matter are:

         Attorney Status                 Hourly Rate (Prior to
         ---------------                 15% Discount)
                                         ---------------------
         Jay R. Indyke, partner                $1,050
         Jeffrey L. Cohen, partner               $785
         Richelle Kalnit, associate              $755
         Robert Winning, associate               $655
         Mollie Canby, paralegal                 $210

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

The firm can be reached at:

         Jay R. Indyke, Esq.
         Jeffrey L. Cohen, Esq.
         Seth Van Aalten, Esq.
         Richelle Kalnit, Esq.
         COOLEY LLP
         The Grace Building
         1114 Avenue of the Americas
         New York, NY 10036
         Tel: (212) 479-6000
         Fax: (212) 479-6275
         E-mail: jindyke@cooley.com
                 jcohen@cooley.com
                 svanaalten@cooley.com
                 rkalnit@cooley.com

                         About Fuhu, Inc.

Fuhu, Inc. and Fuhu Holdings, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Proposed Lead Case No. 15-12465) on
Dec. 7, 2015.  The petition was signed by James Mitchell as chief
executive officer.  The Debtors estimated assets in the range of
$10 million to $50 million and liabilities of $100 million to $500
million.  Judge Christopher S. Sontchi presides over the case.

Bryan Cave LLP and Pachulski Stang Ziehl & Jones LLP represent the
Debtors as counsel.  FTI Consulting, Inc., is the Debtors'
financial advisors.  8020 Consulting, LLC, serves as interim
finance and accounting consultant.  Kurtzman Carson Consultants LLC
serves as administrative advisor for the Debtors.

Fuhu is headquartered in El Segundo, California, and employs
approximately 115 employees and retains one independent contractor
who work in various areas including marketing, sales, operations,
creative, technology, development and management.

Court document indicates that between 2010 and 2013, Fuhu's
revenue grew to more than $195 million in 2013.  Fuhu's array of
nabi tablets are sold in more than 10,000 retail outlets, including
Target, Best Buy, Costco Wholesale, Toys R'Us and Walmart stores.

Fuhu Moldings owns significant intellectual property assets of the
Debtors, including trademarks and copyrights.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Cooley LLP represents
the committee.  Ballard Spahr LLP serves as Delaware Counsel for
the Committee.  PricewaterhouseCoopers LLP serves as financial
advisor to the Committee.

                          *     *     *

The Debtors won approval of bidding procedures in connection with
the sale substantially all of their operating assets.  The Court
approved a Jan. 15, 2016 bid deadline, a Jan. 19 auction, and a
Jan. 20 sale hearing.  Absent higher and better offers, the Debtors
are under contract sell the assets to stalking horse GWS Fuhu, LLC,
for $10,000,000, subject to adjustments, plus the assumption of the
assumed liabilities, and for a minimum of $1,000,000 to be
available for satisfaction of the claims of unsecured creditors.


FUHU INC: Court Approves Kurtzman Carson as Administrative Agent
----------------------------------------------------------------
FUHU, Inc., et al., sought and obtained authority from the U.S.
Bankruptcy Court for the District of Delaware to employ Kurtzman
Carson Consultants LLC as administrative advisor nunc pro tunc to
Dec. 9, 2015.

KCC, as administrative agent, will, among other things:

   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
any chapter 11 plan;

   b. generate an official ballot certification and testifying, if
necessary, in support of the ballot tabulation results for any
chapter 11 plans in the cases; and

   c. provide a confidential data room.

The fees KCC will charge in connection with its services.  The
Debtors submit that KCC's rates are competitive and comparable to
the rates KCC's competitors charge for similar services, and are
reasonable given the quality of KCC's services and KCC's bankruptcy
expertise.  Additionally, KCC will seek reimbursement from the
Debtors for reasonable expenses.

Prior to the Petition Date, KCC received no retainer from the
Debtors to perform any work in connection with the Chapter 11
cases.

To the best of the Debtors' knowledge, KCC is a "disinterested
person" as that term is defined in Section 101(14) of the
Bankruptcy Code with respect to the matters upon which it is to be
engaged.

In a separate docket entry, the Court has authorized the employment
of KCC as claims and noticing agent.

                         About Fuhu, Inc.

Fuhu, Inc. and Fuhu Holdings, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Proposed Lead Case No. 15-12465) on
Dec. 7, 2015.  The petition was signed by James Mitchell as chief
executive officer.  The Debtors estimated assets in the range of
$10 million to $50 million and liabilities of $100 million to $500
million.  Judge Christopher S. Sontchi presides over the case.

Bryan Cave LLP and Pachulski Stang Ziehl & Jones LLP represent the
Debtors as counsel.  FTI Consulting, Inc., is the Debtors'
financial advisors.  8020 Consulting, LLC, serves as interim
finance and accounting consultant.  Kurtzman Carson Consultants LLC
serves as administrative advisor for the Debtors.

Fuhu is headquartered in El Segundo, California, and employs
approximately 115 employees and retains one independent contractor
who work in various areas including marketing, sales, operations,
creative, technology, development and management.

Court document indicates that between 2010 and 2013, Fuhu's
revenue grew to more than $195 million in 2013.  Fuhu's array of
nabi tablets are sold in more than 10,000 retail outlets, including
Target, Best Buy, Costco Wholesale, Toys R'Us and Walmart stores.

Fuhu Moldings owns significant intellectual property assets of the
Debtors, including trademarks and copyrights.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Cooley LLP represents
the committee.  Ballard Spahr LLP serves as Delaware Counsel for
the Committee.  PricewaterhouseCoopers LLP serves as financial
advisor to the Committee.

                          *     *     *

The Debtors won approval of bidding procedures in connection with
the sale substantially all of their operating assets.  The Court
approved a Jan. 15, 2016 bid deadline, a Jan. 19 auction, and a
Jan. 20 sale hearing.  Absent higher and better offers, the Debtors
are under contract sell the assets to stalking horse GWS Fuhu, LLC,
for $10,000,000, subject to adjustments, plus the assumption of the
assumed liabilities, and for a minimum of $1,000,000 to be
available for satisfaction of the claims of unsecured creditors.


FUHU INC: Employs FTI Consulting as Financial Advisors
------------------------------------------------------
FUHU, Inc., et al., sought and obtained permission from the U.S.
Bankruptcy Court for the District of Delaware to employ FTI
Consulting, Inc., together with its wholly owned subsidiaries,
agents and independent contractors, as financial advisors for the
Debtors.

FTI, as financial advisors, will, among other things:

   -- evaluate and advise regarding the inflows and outflows of
cash;

   -- advise the Company on cash conservation measures; and

   -- assist with implementation of cash forecasting and reporting
tools as requested.

FTI is not owed any amounts with respect to its prepetition fees
and expenses.  For postpetition services, the Debtors agree to pay
FTI a weekly advisory fee as:

   -- Weeks 1-4 $75,000 per week
   -- Weeks 5-8 $62,500 per week
   -- Weeks 9 and beyond $50,000 per week

As FTI's fees are on a fixed fee basis, it will not be submitting
regular fee applications pursuant to Sections 330 and 331 of the
Bankruptcy Code.

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

                         About Fuhu, Inc.

Fuhu, Inc. and Fuhu Holdings, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Proposed Lead Case No. 15-12465) on
Dec. 7, 2015.  The petition was signed by James Mitchell as chief
executive officer.  The Debtors estimated assets in the range of
$10 million to $50 million and liabilities of $100 million to $500
million.  Judge Christopher S. Sontchi presides over the case.

Bryan Cave LLP and Pachulski Stang Ziehl & Jones LLP represent the
Debtors as counsel.  FTI Consulting, Inc., is the Debtors'
financial advisors.  8020 Consulting, LLC, serves as interim
finance and accounting consultant.  Kurtzman Carson Consultants LLC
serves as administrative advisor for the Debtors.

Fuhu is headquartered in El Segundo, California, and employs
approximately 115 employees and retains one independent contractor
who work in various areas including marketing, sales, operations,
creative, technology, development and management.

Court document indicates that between 2010 and 2013, Fuhu's
revenue grew to more than $195 million in 2013.  Fuhu's array of
nabi tablets are sold in more than 10,000 retail outlets, including
Target, Best Buy, Costco Wholesale, Toys R'Us and Walmart stores.

Fuhu Moldings owns significant intellectual property assets of the
Debtors, including trademarks and copyrights.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Cooley LLP represents
the committee.  Ballard Spahr LLP serves as Delaware Counsel for
the Committee.  PricewaterhouseCoopers LLP serves as financial
advisor to the Committee.

                          *     *     *

The Debtors won approval of bidding procedures in connection with
the sale substantially all of their operating assets.  The Court
approved a Jan. 15, 2016 bid deadline, a Jan. 19 auction, and a
Jan. 20 sale hearing.  Absent higher and better offers, the Debtors
are under contract sell the assets to stalking horse GWS Fuhu, LLC,
for $10,000,000, subject to adjustments, plus the assumption of the
assumed liabilities, and for a minimum of $1,000,000 to be
available for satisfaction of the claims of unsecured creditors.


FUHU INC: Hires Bryan Cave as Bankruptcy Counsel
------------------------------------------------
FUHU, Inc., et al., sought and obtained permission from the U.S.
Bankruptcy Court for the District of Delaware to employ Bryan Cave
LLP as counsel nunc pro tune to the Petition Date.

Bryan Cave, as counsel, will, among other things:

   (a) advise the Debtors with respect to their rights and
obligations as debtors-in-possession and regarding other matters of
bankruptcy law;

   (b) prepare and file of any petitions, motions, applications,
schedules, statements of financial affairs, plans of
reorganization, disclosure statements, and other pleadings and
documents that may be required in the cases; and

   (c) represent the Debtors at hearings to consider plans of
reorganization, disclosure statements, confirmation and related
hearings, and any adjourned hearings thereof.

Bryan Cave will work closely with the Debtors, Pachulski Stang
Ziehl & Jones LLP, as their Delaware restructuring counsel, and the
Debtors' other retained professionals to clearly delineate each
professional's respective duties and to prevent unnecessary
duplication of services whenever possible.

Bryan Cave's hourly rates are:

         Partners and Counsel              $345 - $995
         Associates                        $230 - $650
         Legal Assistants                  $120 - $360

Before the commencement of the first of the Debtors' cases on Dec.
7, 2015, Bryan Cave had received a series of retainers from the
Debtors.  As of the Initial Petition Date, the balance of Bryan
Cave's retainer was $36,106, which Bryan Cave will hold in its
client trust account as security for the fees and expenses.

During the one-year period prior to the Initial Petition Date,
Bryan Cave received $1,352,738 in payment of professional fees and
expenses for services provided to the Debtors.  Of this amount,
$400,164 was paid for services rendered or to be rendered in
contemplation of or in connection with the cases.

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

                         About Fuhu, Inc.

Fuhu, Inc. and Fuhu Holdings, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Proposed Lead Case No. 15-12465) on
Dec. 7, 2015.  The petition was signed by James Mitchell as chief
executive officer.  The Debtors estimated assets in the range of
$10 million to $50 million and liabilities of $100 million to $500
million. Judge Christopher S. Sontchi presides over the case.

Bryan Cave LLP and Pachulski Stang Ziehl & Jones LLP represent the
Debtors as counsel.  FTI Consulting, Inc., is the Debtors'
financial advisors.  8020 Consulting, LLC, serves as interim
finance and accounting consultant.  Kurtzman Carson Consultants LLC
serves as administrative advisor for the Debtors.

Fuhu is headquartered in El Segundo, California, and employs
approximately 115 employees and retains one independent contractor
who work in various areas including marketing, sales, operations,
creative, technology, development and management.

Court document indicates that between 2010 and 2013, Fuhu's
revenue grew to more than $195 million in 2013.  Fuhu's array of
nabi tablets are sold in more than 10,000 retail outlets, including
Target, Best Buy, Costco Wholesale, Toys R'Us and Walmart stores.

Fuhu Moldings owns significant intellectual property assets of the
Debtors, including trademarks and copyrights.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors.  Cooley LLP represents
the committee.  Ballard Spahr LLP serves as Delaware Counsel for
the Committee.  PricewaterhouseCoopers LLP serves as financial
advisor to the Committee.

                          *     *     *

The Debtors won approval of bidding procedures in connection with
the sale substantially all of their operating assets.  The Court
approved a Jan. 15, 2016 bid deadline, a Jan. 19 auction, and a
Jan. 20 sale hearing.  Absent higher and better offers, the Debtors
are under contract sell the assets to stalking horse GWS Fuhu, LLC,
for $10,000,000, subject to adjustments, plus the assumption of the
assumed liabilities, and for a minimum of $1,000,000 to be
available for satisfaction of the claims of unsecured creditors.


GINGER OIL: Proposes William G. West as Accountant
--------------------------------------------------
Ginger Oil Company filed an application to employ the accounting
firm of William G. West, P.C., C.P.A., as accountant to:

   * Prepare Monthly Operating Reports as required; and

   * Reconstruct the books and records of the Debtor to the extent
necessary in order to prepare the reports and provide accounting
advice thereon.

William G. West will be the lead accountant in the case.  Mr. West
and his firm have represented more than twenty-five bankruptcy
trustees over the last 23 years and are very experienced in
handling all types of accounting and tax matters for bankruptcy
estates.

The services, on behalf of the Debtor for which compensation will
be requested and expense will be sought will be requested pursuant
to 11 U.S.C. Sec. 330(a), 331, and 503(a) and (b), and Rule 2014
and 2016, Fed. R. Bankr. P.

The professionals and paraprofessionals requesting fees and the
ordinary hourly rate charged by each is as follows:

                                           Rate
                                           ----
         William G. West, CPA (Owner)      $260
         Roger D. Martin, CPA              $230
         William A. Potter, CPA            $200
         Paraprofessional Support          $115

The Debtor believes that William G. West, P.C., C.P.A., members and
associates, are a disinterested person within the meaning of 11
U.S.C. Sec. 101(14).

The firm can be reached at:

         WILLIAM G. WEST, P.C., C.P.A.
         William G. West, CPA
         12345 Jones Road, Suite 214
         Houston, TX 77070
         Tel: (281) 807-7811

                        About Ginger Oil

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

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

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

U.S. Trustee Judy A. Robbins said Jan 14, 2016, that she has been
unable to appoint an official creditors committee.


GLOBAL PROTECTION: Trustee Can Recover $1.1MM from Susquehanna Bank
-------------------------------------------------------------------
Before the court is an adversary proceeding of Andrew Sklar,
Chapter 7 Trustee of the Bankruptcy Estate of Global Protection
USA, Inc., against Susquehanna Bank, seeking avoidance and to
recover from the Bank a $500,000 transfer made on December 13,
2011, and $655,000 in five postpetition transfers received by the
Bank.

In a Memorandum Decision dated February 26, 2016, which is
available at http://is.gd/4OSJ5cfrom Leagle.com, Judge Andrew B.
Altenburg of the United States Bankruptcy Court for the District of
New Jersey granted judgment in favor of the Trustee that all of the
transfers may be avoided and recovered by the Trustee and denied
the Trustee's request for attorney's fees and costs for this
proceeding, but grants $2,000 as a sanction for the Bank's late
production of its expert's report.

The adversary proceeding is Andrew Sklar, Chapter 7 Trustee of the
Bankruptcy Estate of Global Protection USA, Inc., Plaintiff, v.
Susquehanna Bank, Defendant, Adv. No. 12-1879-ABA (Bankr. D.N.J.).

The bankruptcy case is In Re: Global Protection USA, Inc., Chapter
7, Debtor, Case No. 12-16322-ABA (Bankr. D.N.J.).

The Official Committee of Unsecured Creditors of Global Protection
USA, Inc., Plaintiff, is represented by John S. Mairo, Esq. --
jsmairo@pbnlaw.com -- Porzio, Bromberg & Newman, P.C., Robert M.
Schechter, Esq. -- rmschechter@pbnlaw.com -- Porzio, Bromberg &
Newman, P.C..

Susquehanna Bank, Defendant, is represented by William G. Wright,
Esq. -- Capehart & Scatchard, P.A..

                About Global Protection

Global Protection USA, Inc., filed a Chapter 11 petition
(Bankr. D.N.J. Case No. 12-16322) on March 12, 2012 in Camden,
New Jersey. Ira Deiches, Esq., at Haddonfield, in New Jersey,
serves as counsel to the Debtor.  The Debtor disclosed $3,252,901
in assets and $5,440,617 in liabilities.  The petition was signed
by Stephen Guarino, president.

The case was later converted to Chapter 7 and Andrew Sklar was
named as Chapter 7 Trustee.


GRAHAM GULF: Hires BlackBriar as Financial Advisor
--------------------------------------------------
Graham Gulf, Inc. seeks authorization from the U.S. Bankruptcy
Court for the Southern District of Alabama to employ BlackBriar
Advisors, LLC as financial advisor, effective February 2, 2016.

The Debtor will rely on the expertise of BlackBriar to assist with
all financial matters as it continues working towards
reorganization.

BlackBriar proposes to charge the Debtor a flat monthly fee of
$35,000 for each of the first two months of its services and
$30,000 for each month thereafter.

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

Robert Schleizer, managing partner of BlackBriar, 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 can be reached at:

       Robert Schleizer
       BLACKBRIAR ADVISORS, LLC
       901 Main Street, Suite 600
       Dallas, TX 75202
       Tel: (214) 483-1261
       Fax: (214) 483-1271

                        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.


GRASS VALLEY: Plan Filing Exclusivity Extended to May 9
-------------------------------------------------------
The Hon. R. Kimball Mosier of the U.S. Bankruptcy Court for the
District of Utah extended Grass Valley Holdings, LP's exclusive
periods to file a Chapter 11 Plan until May 9, 2016, and solicit
acceptances for that plan until July 8.

In its motion, the Debtor stated it needed more time to propose a
chapter 1 plan.  

As of Jan. 8, 2016, Judge Nuffer, the assigned District Court
judge, has not yet ruled on Green Enterprises ex parte motion for
extension of time, and there is therefore no deadline for Green
Enterprises and the other Green-related parties to file a
memorandum in opposition to the estimation motion in District
Court.

Although Green Enterprises filed a claim in an unliquidated amount,
the amended complaint in the Green Enterprises Lawsuit attached to
its proof of claim reflects that Green Enterprises asserts it has
been damaged in an amount not less than $5,424,545.  If allowed in
that or a greater amount, the claim of Green Enterprises would
swamp the unsecured class of creditors.

In its efforts to rehabilitate its business, the Debtor and its
professionals have determined that it is necessary to reduce the
Green Enterprises' claim for the equitable relief of specific
performance to a dollar amount, and to liquidate the claims of the
Green Enterprises and Standard Plumbing.

Reducing Green Enterprises' claim for specific performance to a
specific dollar amount pursuant to the Estimation Motion would
enable the Debtor to use one or more of the five commercial
properties affected by a lis pendens to finance or facilitate a
plan through refinancing or a sale of property.

The Debtor is represented by:

         Gary E. Jubber, Esq.
         Douglas J. Payne, Esq.
         FABIAN VANCOTT
         215 South State Street, Suite 1200
         Salt Lake City, UT 84111
         Tel: (801) 531-8900

                   About Grass Valley Holdings, L.P.

Based in Springville, Utah, Grass Valley Holdings, L.P., is a
holding company for real property located in Utah as well as an
interest in real property located in Idaho Falls, Idaho.

Grass Valley Holdings commenced a Chapter 11 bankruptcy case
(Bankr. D. Utah Case No. 15-24513) in Salt Lake City, Utah, on May
15, 2015.

The Debtor disclosed $21,478,874 in assets and $13,187,245 in
liabilities as of the Chapter 11 filing.

The case is assigned to Judge R. Kimball Mosier.  The Debtor is
represented by Gary E. Jubber, Esq., and Douglas J. Payne, Esq.,
at Fabian and Clendinin, in Salt Lake City.


GREAT LAKES PROPERTIES: Corporate Veil Claim Stays in Bankr. Court
------------------------------------------------------------------
The Michigan Department of Environmental Quality makes two claims
against Defendants Raad Asmar, Thikra Asmar, and Jimmy Asmar.  The
first is a "piercing of the corporate veil" claim and the second is
an equitable subordination claim against Defendant Thikra Asmar.

All parties filed Motions for Summary Judgment and the Court issued
an Opinion on August 3, 2015, denying in part and granting in part
the Plaintiff's Motion.  In particular, the Court granted the
Plaintiff's Motion as to the viability of its theory against the
Thikra Asmar as to the equitable subordination claim, but left the
issue of the amount of the subordination open because additional
proofs were necessary.  As for the piercing of the corporate veil
claim, the Court concluded that this claim would be more properly
heard by the state courts.  The Court granted Jimmy Asmar's Motion
for Summary Judgment as to the equitable subordination claim.

In an Opinion dated February 25, 2016, which is available at
http://is.gd/ja67rmfrom Leagle.com, Judge Daniel S. Opperman of
the United States Bankruptcy Court for the Eastern District of
Michigan, Southern Division, Flint, reconsidered a portion of the
August 3, 2015 Opinion and held that for the time being the
piercing of the corporate veil claim should not be remanded to the
state court, but instead should remain in the Court for future
determination.

The case is IN RE: GREAT LAKES PROPERTIES OF FENTON, LLC, Chapter
11 Proceeding, Debtor. MICHIGAN DEPARTMENT OF ENVIRONMENTAL
QUALITY, Plaintiff, v. RAAD ASMAR, THIKRA ASMAR, and JIMMY ASMAR,
Jointly and Severally, Defendants, Case No. 14-30332-dof, Adversary
Proceeding Case No. 14-3172-dof.

Great Lakes Properties Of Fenton, LLC, Debtor In Possession, is
represented by Robert N. Bassel, Esq.

Daniel M. McDermott, U.S. Trustee, is represented by Leslie K.
Berg.


GT ADVANCED: Wants Approval of $3.6-Mil. Sale of Merlin Assets
--------------------------------------------------------------
GT Advanced Technologies Inc. and its affiliated debtors ask the
U.S. Bankruptcy Court for the District of New Hampshire to approve
the sale of their assets related to their Merlin business to Merlin
Solar Technologies, Inc.,

The buyer is an entity affiliated with Shah Capital Partners, an
investment firm focused on the technology industry.

One of the Debtors' business lines involves the development of a
solar technology called the Merlin business.  Merlin is an
innovative solar cell metallization and interconnect technology
that reduces costs across the entire value chain of traditional
solar modules.  The Merlin business is currently conducted out
of a leased facility in San Jose, California, and consists
primarily of intellectual property rights, certain fixed assets,
and inventory.

The Debtors propose to sell the Merlin Business to MST for a cash
purchase price of $3.6 million, subject to any higher or otherwise
better offer that the Debtors may receive prior to the sale
hearing.  MST has agreed to make offers of employment to
thirty-three of the employees currently working in the Merlin
business, thus preserving jobs and minimizing potential employee
claims.  MST has also agreed to assume certain liabilities,
including cure costs under the contracts to be assigned to MST,
subject to a cap of $300,000 on assumed current liabilities and a
cap of $800,000 on amounts owed under contract assigned to MST.

The Debtors relate that the Merlin business will require
significant capital investment and time before they can be
commercialized for a net profit. The Debtors further tell the Court
that at this time, the Merlin business no longer fit into the
Debtors' business plan going forward and thus the Debtors have
determined that the best way to maximize their value is to complete
the sale of those assets on the terms set forth in the Asset
Purchase Agreement.

The Debtors and their advisors have undertaken significant efforts
to market the Merlin assets for sale. Over the last several months,
Rothschild contacted a total of 91 parties, consisting of 24
potential financial buyers, 29 potential strategic buyers and 38
venture capital firms.  Only MST submitted a binding bid at the
Jan. 25 deadline for binding bids.

The Debtors' Motion is scheduled for hearing on March 30, 2016 at
11:30 a.m.  The deadline for the filing of objections is set on
March 24, 2016 at 4:00 p.m.

GT Advanced Technologies Inc., et al.'s attorneys:

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

                - and -

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

                  About GT Advanced Technologies

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

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

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

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

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

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

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

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

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


GUIDED THERAPEUTICS: Incurs $9.50 Million Net Loss in 2015
----------------------------------------------------------
Guided Therapeutics, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
attributable to common stockholders of $9.50 million on $42,000 of
contract and grant revenue for the year ended Dec. 31, 2015,
compared to a net loss attributable to common stockholders of
$10.03 million on $65,000 of contract and grant revenue for the
year ended Dec. 31, 2014.

For the three months ended Dec. 31, 2015, the Company reported a
net loss attributable to common stockholders of $2.48 million on
$9,000 of contract and grant revenue compared to a net loss
attributable to common stockholders of $3.22 million on $13,000 of
contract and grant revenue for the same period in 2014.

As of Dec. 31, 2015, Guided Therapeutics had $2.56 million in total
assets, $8.12 million in total liabilities and a $5.56 million
total stockholders' deficit.

"We continue to focus on building our international cervical cancer
screening business in developing countries, where there are
approximately 2.0 billion women aged 15 and older who are
potentially eligible for screening with LuViva," said Gene
Cartwright, chief executive officer of Guided Therapeutics.
"Countries where we already have a foothold, and that offer the
greatest opportunity for growth in 2016, are Turkey, Indonesia,
Bangladesh, Kenya and Nigeria."

"LuViva devices can now be found in 22 countries around the world,
with the majority in Asia and Africa.  We are also gaining traction
in the Middle East, where we recently received an order for two
more LuViva devices from Saudi Arabia," Mr. Cartwright added.

"Sales of LuViva disposable Cervical Guides for the quarter were
12,920 - more than double that in any previous quarter.  To further
support growth, we are currently in the process of rolling out an
improved design for our disposable that reduces waste and
facilitates less expensive shipping and storage," Mr. Cartwright
said.

"While the main focus of the business is the much larger
international screening market, we plan on obtaining U.S. FDA
approval for LuViva," Mr. Cartwright said.  "We met with the FDA in
the fourth quarter of 2015 and agreed on a path forward.  We plan
on executing on that plan after we raise additional capital."

"We have significantly reduced expenses as we manage our costs to
operate.  We plan to raise additional capital in the first half of
2016 to provide the resources to build the international business
and complete our FDA work.  We anticipate orders in the $3.0
million to $5.0 million range for the year.  Based on current and
projected orders and available inventory, we expect to go on
back-order status for some period pending timing of the financing,"
he said.

UHY LLP, in Sterling Heights, Michigan, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company's recurring losses
from operations and accumulated deficit raise substantial doubt
about its ability to continue as a going concern.

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

                     http://is.gd/iqDq2Z

                  About Guided Therapeutics

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


HD SUPPLY: Reports Fiscal 2015 Full-Year and Q4 Results
-------------------------------------------------------
HD Supply Holdings, Inc., reported net income of $871 million on
$1.64 billion of net sales for the three months ended Jan. 31,
2016, compared to a net loss of $93 million on $1.54 billion of net
sales for the three months ended Feb. 1, 2015.

For the fiscal year ended Jan. 31, 2016, HD Supply reported net
income of $1.47 billion on $7.38 billion of net sales compared to
net income of $3 million on $6.97 billion of net sales for the
fiscal year ended Feb. 1, 2015.

As of Jan. 31, 2016, HD Supply had $6.01 billion in total assets,
$5.27 billion in total liabilities and $744 million in total
stockholders' equity.

"I am extremely pleased with the team's performance in fiscal 2015.
We delivered 6 percent net sales growth, 13 percent Adjusted
EBITDA growth and Adjusted Net Income per Diluted Share of $1.74,
despite a challenging and uncontrollable environment," stated Joe
DeAngelo, chairman and CEO of HD Supply.  "We focused on what we
could control and delivered strong profitable growth in excess of
market, operating leverage and cash flow."

As of Jan. 31, 2016, HD Supply's combined liquidity of
approximately $1,311 million was comprised of $269 million in cash
and cash equivalents and $1,042 million of additional available
borrowings under HD Supply, Inc.'s senior asset-backed lending
facility, based on qualifying inventory and receivables.

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

                     http://is.gd/a1kXrE

                       About HD Supply

HD Supply, Inc., headquartered in Atlanta, Georgia, is one of the
largest North American wholesale distributors supporting
residential and non-residential construction and to a lesser
extent electrical consumption and repair and remodeling.  HDS also
provides maintenance, repair and operations services.  Its
businesses are organized around three segments: Infrastructure and
Energy; Maintenance, Repair & Improvement; and, Specialty
Construction.  HDS operates through approximately 800 locations
throughout the U.S. and Canada serving contractors, government
entities, maintenance professionals, home builders and
professional businesses.

                           *     *     *

As reported by the TCR on Aug. 5, 2015, Moody's Investors Service
upgraded HD Supply, Inc.'s Corporate Family Rating to B2 from B3
and revised its rating outlook to positive from stable, since key
debt credit metrics are becoming more supportive of higher ratings.
The upgrade of HDS's Corporate Family Rating to B2 from B3 and the
change in rating outlook to positive from stable results from
Moody's expectations for key debt credit metrics becoming more
supportive of higher ratings, due to solid operating performance
and lower levels of balance sheet debt.

The TCR reported in August 2015 that Standard & Poor's Ratings
Services said that it has raised its corporate credit rating on
Atlanta-based industrial distributor HD Supply Inc. to 'B+' from
'B'.  "The upgrade reflects the company's consistently good
operating performance over the past 12 months, which has caused its
leverage to fall below 6x as of May 3, 2015," said Standard &
Poor's credit analyst Svetlana Olsha.


HORSEHEAD HOLDING: Names Timothy D. Boates of RAS as CRO
--------------------------------------------------------
Horsehead Holding Corp., et al., ask the US. Bankruptcy Court for
the District of Delaware for permission to employ RAS Management
Advisors, LLC, to (a) provide Timothy D. Boates as chief
restructuring officer; (b) provide additional personnel; and (c)
provide financial advisory and restructuring-related services to
the Debtors, in each instance nunc pro tunc to the Petition Date.

The engagement is pursuant to the terms and conditions of that
certain letter agreement between RAS and the Debtors, dated Dec.
16, 2015, as amended by that certain letter agreement between RAS
and the Debtors, dated Feb. 9, 2016.

RAS will, among other things:

   a. manage all aspects of the Debtors' financial resources,
including cash and liquidity management;

   b. evaluate all aspects of the Debtors' operations to determine
if any cost reduction measures can be implemented in order to
improve the Debtors' operations during the pendency of the cases;
and

   c. direct the efforts of the Debtors' management, its employees,
and its external professionals in connection with any bankruptcy
matters or potential transactional efforts, including any matters
related to the Debtors' debtor-in-possession financing or any
related issues.

Mr. Boates, and the additional personnel of RAS, will coordinate
with the Debtors' other retained professionals to avoid unnecessary
duplication of services.

Mr. Boates and the additional personnel from RAS have agreed to be
paid according to these fee structure:

                                      Daily            Hourly
                                      -----            ------
      Timothy Boates                  $5,000            $500
      Michael Rizzo                   $3,500            $350
      Robert Tetreault                $3,250            $325

RAS has provided prepetition financial and restructuring services
to the Debtors.  During the one-year period prior to the
commencement of the chapter 11 cases, RAS has received $408,364
from the Debtors for services performed and expenses incurred prior
to the Petition Date.  In addition, RAS initially received a
retainer in the amount of $100,000 and continues to hold $99,674 as
a retainer from the Debtors.

RAS may be reached at:

         Timothy Boates
         RAS MANAGEMENT ADVISORS, LLC
         Tel: 256-776-4989
         Email: tboates@rasmanagement.com

The Debtors are represented by:

         Laura Davis Jones, Esq.
         James E. O'Neill, Esq.
         Joseph M. Mulvihill, Esq.
         PACHULSHI STANG ZIEHL &JONES LLP
         919 North Market Street, 17th Floor
         P.O. Box 8705
         Wilmington, DE 19899-8705 (Courier 19801)
         Tel: (302) 652-4100
         FaX: (302) 652-4400
         Email: ljones@pszjlaw.com
                joneill@pszjlaw.com
                jmulvihill@pszjlaw. com

         James H.M. Sprayregen, P.C.
         Patrick J. Nash Jr., P.C
         Ryan Preston Dahl
         KIRKLAND & ELLIS LLP
         KIRKLAND & ELLIS INTERNATIONAL LLP
         300 North LaSalle
         Chicago, IL 60654
         Tel: (312) 862-2000
         Fax: (312) 862-2200
         Email: james.sprayregen@kirkland.com
                patrick.nash@kirkland.com
                ryan.dahl@kirkland.com

                  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.


HOVNANIAN ENTERPRISES: May Issue Add'l 9.1M Shares Under 2012 Plan
------------------------------------------------------------------
Hovnanian Enterprises, Inc., filed with the Securities and Exchange
Commission a Form S-8 registration statement to register an
additional 9,100,000 shares of Class A common stock and Class B
Common Stock issuable under the Company's 2012 Hovnanian
Enterprises, Inc. Amended and Restated Stock Incentive Plan.

On March 15, 2016, at the annual meeting of stockholders of
Hovnanian, the Company's stockholders approved the 2012 Hovnanian
Enterprises, Inc. Amended and Restated Stock Incentive Plan which
increased the number of shares of the Company's common stock, par
value $0.01 per share, that may be issued under the 2012 Amended
and Restated Plan by 9,100,000 Shares from the 11,450,000 Shares
which were previously authorized for issuance under the 2012
Hovnanian Enterprises, Inc. Amended and Restated Stock Incentive
Plan (inclusive of the 5,000,000 Shares which were previously
authorized for issuance under the 2012 Hovnanian Enterprises, Inc.
Stock Incentive Plan.  As a result, the total number of Shares
authorized for issuance is 20,550,000.  

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

                      http://is.gd/Kf2X6X

                  About Hovnanian Enterprises

Red Bank, New Jersey-based Hovnanian Enterprises, Inc. (NYSE: HOV)
-- http://www.khov.com/-- founded in 1959 by Kevork S. Hovnanian,
is one of the nation's largest homebuilders with operations in
Arizona, California, Delaware, Florida, Georgia, Illinois,
Kentucky, Maryland, Minnesota, New Jersey, New York, North
Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia and
West Virginia.  The Company's homes are marketed and sold under
the trade names K. Hovnanian Homes, Matzel & Mumford, Brighton
Homes, Parkwood Builders, Town & Country Homes, Oster Homes and
CraftBuilt Homes.  As the developer of K. Hovnanian's Four Seasons
communities, the Company is also one of the nation's largest
builders of active adult homes.

Hovnanian Enterprises reported a net loss of $16.1 million on $2.14
billion of total revenues for the year ended Oct. 31, 2015,
compared to net income of $307 million on $2.06 billion of total
revenues for the year ended Oct. 31, 2014.

As of Jan. 31, 2016, Hovnanian had $2.55 billion in total assets,
$2.69 billion in total liabilities and a $143 million total
stockholders' deficit.

                           *     *     *

As reported by the Troubled Company Reporter on April 25, 2013,
Standard & Poor's Ratings Services said it raised its corporate
credit rating on Hovnanian Enterprises Inc. to 'B-' from 'CCC+'.
"The upgrade reflects strengthening operating performance
supported by the broader recovery in the housing market that, we
believe, should support modest profitability in 2013," said
Standard & Poor's credit analyst George Skoufis.

In the Dec. 9, 2013, edition of the TCR, Fitch Ratings upgraded
the Issuer Default Rating (IDR) of Hovnanian Enterprises to 'B-'
from 'CCC'.  The upgrade and the Stable Outlook reflects HOV's
operating performance year-to-date (YTD), adequate liquidity
position, and moderately better prospects for the housing sector
during the remainder of this year and in 2014.

The TCR reported on Jan. 9, 2014, that Moody's Investors Service
raised the Corporate Family Rating of Hovnanian Enterprises, Inc.,
to B3 from Caa1.  The upgrade of the Corporate Family Rating to B3
reflects Hovnanian's improved financial performance including
improvement in interest coverage to slightly above 1x and finally
turning net income positive for the fiscal year 2013.


HYDROCARB ENERGY: Incurs $7.07 Million Net Loss in Second Quarter
-----------------------------------------------------------------
Hydrocarb Energy Corp. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $7.07 million on $674,816 of revenues for the three months ended
Jan. 31, 2016, compared to a net loss of $1.95 million on $646,348
of revenues for the three months ended Jan. 31, 2015.

For the six months ended Jan. 31, 2016, the Company reported a net
loss of $11.22 million on $1.88 million of revenues compared to a
net loss of $3.73 million on $1.85 million of revenues for the same
period in 2015.

As of Jan. 31, 2016, Hydrocarb had $25.39 million in total assets,
$28.85 million in total liabilities and a $3.46 million total
stockholders' deficit.

"We may not have sufficient available funding to meet our debt
service and other obligations, repay outstanding liabilities,
conduct our operations and complete exploration and drilling
operations, our ability to obtain the necessary funding is
uncertain and in the event we are unable to obtain such funding, we
may be forced to seek bankruptcy protection," the Company said in
the report.

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

                      http://is.gd/BDfn3f

                    About Hydrocarb Energy

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

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

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


HYDROCARB ENERGY: Signs $2-Mil. Private Placement Agreement
-----------------------------------------------------------
Hydrocarb Energy Corp., on March 9, 2016, entered into a Special
Private Placement Agreement with Infinity Fund LLC, according to a
regulatory filing with the Securities and Exchange Commission.
Pursuant to the SPPA, Infinity agreed to purchase, within 45 days
of the parties' entry into the SPPA, $2 million of a
to-be-designated series of convertible preferred stock of the
Company, which will be convertible into common stock of the Company
on a 1,000 for one basis (1,000 shares of common stock for each
share of preferred stock), have no redemption rights, no voting
rights, no dividend rights, be subject to a 9.99% ownership
limitation, and have such other terms and conditions as are agreed
by the parties.

The preferred stock will be convertible into common stock of the
Company based on a 10% discount to market.  Additionally pursuant
to the SPPA, Infinity agreed to subscribe for up to $25 million in
shares of common stock of the Company, at a 10% discount to the
then trading price of the Company's common stock, from time to
time, subject to certain limitations, rights to terminate
purchases, and volume restrictions, in the form of an equity line
of credit, at such time as the Company has filed and obtained
effectiveness of a registration statement on Form S-1 to register
the shares issuable to Infinity under such arrangement.  Infinity's
purchase of the equity line shares under the SPPA is subject to
various closing conditions and conditions precedent described
therein, which may not be able to be met by the Company in a timely
fashion, if ever.

                    About Hydrocarb Energy

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

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

As of Jan. 31, 2016, Hydrocarb had $25.39 million in total assets,
$28.85 million in total liabilities and a $3.46 million total
stockholders' deficit.

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


INTERNATIONAL MANUFACTURING: Trustee Seeks Appointment of Mediator
------------------------------------------------------------------
Beverly N. McFarland, the duly appointed Chapter 11 trustee for
International Manufacturing Group, Inc., requested the U.S.
Bankruptcy Court for the Eastern District of California to appoint
retired Judge Ralph R. Mabey, a member in the Kirton McConkie law
firm, to mediate a settlement of the bankruptcy estate's fraudulent
transfer adversary action pending against Bridge Bank, N.A.

The Chapter 11 Trustee also seeks authority to pay the bankruptcy
estate's portion of the mediation fees at his reduced rate of $965
per hour.

According to the trustee, the Debtor is alleged to have been
involved in a massive Ponzi scheme with its Debtor's president and
sole shareholder, Deepal Sunil Wannakuwatte, channeling in excess
of $120 million in investor funds through Debtor and related entity
bank accounts over several years, and defrauding over one hundred
victims in the process, primarily individuals, corporate
entities, and possibly some financial institutions.

Prior to the filing of this case, Mr. Wannakuwatte, entered into a
plea agreement with the United States Attorney's Office in which he
admitted to engaging in criminal activity and agreed to the filing
of a Chapter 11 case for himself and related business entities well
as stipulated to the appointment of a Chapter 11 trustee.

The trustee believes that the appointment and authorization to pay
Judge Mabey for the proposed mediation is appropriate and in the
best interests of the estate and its creditors.

The trustee is represented by:

         Thomas A. Willoughby, Esq.
         Jennifer E. Niemann, Esq.
         FELDERSTEIN FITZGERALD WILLOUGHBY & PASCUZZI LLP
         400 Capitol Mall, Suite 1750
         Sacramento, CA 95814
         Tel: (916) 329-7400
         Fax: (916) 329-7435
         E-mail: twilloughby@ffwplaw.com

               About International Manufacturing

Deepal Wannakuwatte, the mastermind of a $150 million Ponzi scheme,
put himself and his company, International Manufacturing Group
Inc., into Chapter 11 after he pleaded guilty to one count of wire
fraud and agreed to a 20-year prison sentence.  The bankruptcy
filing was part of his plea bargain with federal prosecutors.  Mr.
Wannakuwatte is the former owner of the Sacramento Capitols tennis
team.

Mr. Wannakuwatte initiated his personal Chapter 11 case on May 30,
2014.  Hank Spacone was appointed as trustee for Wannakuwatte's
Chapter 11 estate.  Betsy Kathryn Wannakuwatte and Sarah Kathryn
Wannakuwatte also have pending Chapter 7 cases.

Mr. Wannakuwatte also submitted a Chapter 11 bankruptcy petition
for IMG on May 30, 2014 (Bankr. E.D. Cal. Case No. 14-25820) in
Sacramento.  The case is assigned to Judge Robert S. Bardwil.
The Debtor tapped Marc A. Caraska, in Sacramento, as counsel.  

In June 2014, Beverly N. McFarland was appointed as Chapter 11
trustee for IMG.  She tapped Felderstein Fitzgerald Willoughby &
Pascuzzi LLP as her bankruptcy counsel; Diamond McCarthy LLP as her
special litigation counsel; Gabrielson & Company as accountant; and
Karen Rushing as bookkeeper outside the ordinary course of
business.  

The U.S. Trustee for Region 7 appointed a three-member unsecured
creditors panel in IMG's case comprising of Byron Younger, Janine
Jones, and Steve Whitesides.


INTERNATIONAL SUPPLY: $1M DIP Loan from Heartland Approved
----------------------------------------------------------
Judge Thomas L. Perkins of the U.S. Bankruptcy Court for the
Central District of Illinois, Peoria Division, granted
International Supply Co. final approval to obtain up to $1 million
of postpetition financing from Heartland Bank and Trust Company.

The DIP Facility will be made up of: (i) $500,000 in postpetition
financing authorized by the Court's First Interim Order ("Initial
Facility"), and (ii) an additional $500,000 in postpetition
financing pursuant to the Court's Amended Second Interim Order
("Supplemental Facility").

The Debtor may only draw upon the Supplemental Facility when it has
delivered proof to the satisfaction of Heartland Bank that there
are no sufficient funds available in the Debtor's
debtor-in-possession account held at Regions Bank, so as to clear
checks presented for payment ("Financing Condition").  Upon
satisfaction of the Financing Condition, Heartland Bank will be
authorized, but not directed, to issue a cashier's check payable to
the Debtor, as debtor in possession, in the amount of $20,000, or
in such amount deemed necessary by Heartland Bank, in the in the
exercise of its sole and absolute discretion, for the Debtor to
meet its necessary operating expenses as set forth in the Budget.

According to the Feb. 19, 2016 Final DIP Order, all of Heartland
Bank's obligations and commitments will terminate at the earliest
of the following:

     (a) the earlier of the close of business on Dec. 22, 2015, or
the closing of a sale of substantially all of the Debtor's assets;

     (b) the entry of an order pursuant to section 363 of the
Bankruptcy Code approving the sale of substantially all of the
Debtor's assets;

     (c) the effective date of any plan of reorganization;

     (d) conversion of the Bankruptcy Case to a case under Chapter
7 of the Bankruptcy Code;

     (e) appointment of a trustee or examiner in the Bankruptcy
Case; or

     (f) dismissal of the Bankruptcy Case.

A full-text copy of the Final DIP Order dated Feb. 19, 2016, is
available at http://is.gd/08sTtK

Heartland Bank and Trust Company is represented by:

         Mark A. Bogdanowicz, Esq.
         HOWARD & HOWARD ATTORNEYS PLLC
         211 Fulton Street, Suite 600
         Peoria, IL 61602
         Telephone: (309)672-1483
         Facsimile: (309)672-1568
         E-mail: Mbogdanowicz@howardandhoward.com

Morton Community Bank is represented by:

          Kenneth R. Eathington, Esq.
          Michael Kraft, Esq.
          QUINN JOHNSTON HENDERSON PRETORIOUS &
          CERULO
          227 NE Jefferson Street
          Peoria, Illinois 61602
          E-mail: mkraft@qjhpc.com

The Official Committee of Unsecured Creditors is represented by:

          Harold D. Israel, Esq.
          Sean Williams, Esq.
          GOLDSTEIN & MCCLINTOCK, LLLP
          208 South LaSalle Street, Suite 1750
          Chicago, IL 60604
          E-mail: harold@goldmclaw.com

International Supply Co. is represented by:

          Sumner A. Bourne, Esq.
          RAFOOL, BOURNE & SHELBY P.C.
          411 Hamilton Boulevard, Suite 1600
          Peoria, IL 61602
          Telephone: (309)673-5535
          Facsimile: (309)673-5535
          E-mail: sbourne@mtco.com

The United States Trustee is represented by:

          Sabrina M. Petesch, Esq.
          401 Main Street, Suite 1100
          Peoria, IL 61602
          E-mail: Sabrina.m.petesch@usdoj.gov

                  About International Supply Co.

International Supply Co. commenced bankruptcy proceedings under
Chapter 11 of the U.S. Bankruptcy Code in Central District of
Illinois (Case No. 15-81467) on September 24, 2015.

The Debtor's primary line of business is integration services and
machinery for power generation systems throughout the country.

The Debtor has tapped Sumner Bourne, Esq., as its counsel.  Judge
Thomas L. Perkins has been assigned the case.

The Office of the U.S. Trustee appointed six creditors to the
official committee of unsecured creditors.  The committee is
represented by Goldstein & McClintock LLLP.


INTERNATIONAL SUPPLY: Final Cash Collateral Use Order Entered
-------------------------------------------------------------
Judge Thomas L. Perkins of the U.S. Bankruptcy Court for the
Central District of Illinois, Peoria Division entered on Feb. 16,
2016, a final order authorizing International Supply Co. to use the
cash collateral Heartland Bank and Trust Company, pursuant to the
stipulation executed by the Debtor, Heartland Bank, and the
Official Committee of Unsecured Creditors. The Order authorizes the
Debtor to use cash collateral from Dec. 16, 2015 through Feb. 23,
2016.  The Feb. 23, 2016 termination date, however, may be extended
upon the consent of the Debtor and the Bank, in consultation with
the Committee.  A full-text copy of the Final Cash Order dated Feb.
16, 2016, is available at http://is.gd/4qBxHv

                  About International Supply Co.

International Supply Co. commenced bankruptcy proceedings under
Chapter 11 of the U.S. Bankruptcy Code in Central District of
Illinois (Case No. 15-81467) on September 24, 2015.

The Debtor's primary line of business is integration services and
machinery for power generation systems throughout the country.

The Debtor has tapped Sumner Bourne, Esq., as its counsel.  Judge
Thomas L. Perkins has been assigned the case.

The Office of the U.S. Trustee appointed six creditors to the
official committee of unsecured creditors.  The committee is
represented by Goldstein & McClintock LLLP.


JAIRRABRANDY REALTY: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor: Jairrabrandy Realty Enterprises LLC
        3834 Carrel Blvd.
        Oceanside, NY 11572-5917

Case No.: 16-41056

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: March 16, 2016

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Stuart P Gelberg, Esq.
                  600 Old Country Road, Suite 410
                  Garden City, NY 11530-2009
                  Tel: (516) 228-4280
                  Fax: (516) 228-4278
                  E-mail: spg@13trustee.net

Total Assets: $3 million

Total Liabilities: $2.80 million

The petition was signed by Angaad Sooknandan, president.

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


JOHN JOHNSON: Court Junks Bid to Convert Case as Ch. 7
------------------------------------------------------
John Joseph Louis "Jack" Johnson, III, a professional hockey player
with the Columbus Blue Jackets, filed a voluntary petition for
relief under Chapter 11 of the Bankruptcy Code more than a year
ago. Since then, he has owed the creditors of his bankruptcy estate
the same fiduciary duties that, absent the appointment of an
independent trustee, are imposed on all Chapter 11 debtors—from
small businesses to Fortune 500 companies, and from individuals
with moderate incomes to those who, like the Debtor, are highly
compensated.

Before the Court is the Debtor's motion seeking to convert his case
from Chapter 11 to a Chapter 7 case under which in his view all of
his post-bankruptcy earnings—including those he earned before
conversion would be shielded from the creditors of his bankruptcy
estate. A group of creditors asserting claims in the aggregate
amount of approximately $14 million objected to the conversion
motion, arguing that the Court should decline to convert the
Debtor's case.

In an Opinion and Order dated February 26, 2016, which is available
at http://is.gd/0EoZbkfrom Leagle.com, Judge John E. Hoffman of
the United States Bankruptcy Court for the Southern District of
Ohio, Eastern Division, Columbus denied the Motion of the Debtor
and Debtor in Possession seeking to convert his Chapter 11 Case to
Chapter 7.

After failing to reduce his expenses in an effort to repay his debt
before bankruptcy, the Debtor filed a Chapter 11 case in which he
has neglected his fiduciary duties and has failed to administer his
case in a manner that might have resulted in a significant
distribution to his creditors, Judge Hoffman held.  Instead, he
seeks to keep for himself millions of dollars of post-bankruptcy
income, while leaving his creditors with a small recovery, if any,
from his unencumbered, non-exempt assets, Judge Hoffman further
held.

The case is In re JOHN JOSEPH LOUIS JOHNSON, III, Chapter 11,
Debtor, Case No. 14-57104 (Bankr. S.D. Ohio).

John Joseph Louis Johnson, III, Debtor In Possession, is
represented by Daniel A DeMarco, Esq. --dademarco@hahnlaw.com --
Rocco I Debitetto, Marc J Kessler, Esq. -- mjkessler@hahnlaw.com --
Hahn Loeser & Parks LLP.

Assistant US Trustee (Col), U.S. Trustee, is represented by Pamela
Arndt.


JTS LLC: Seeks to Hire Chaobal for Suit v. Nokian Tyres
-------------------------------------------------------
JTS, LLC, seeks approval from the Bankruptcy Court in Alaska to
employ the Law Offices of Vikram N. Chaobal, LLC, as special
counsel to represent the Debtor in the case, JTS, LLC v Nokian
Tyres PLC; Nokian Tyres, Inc. and Nokian Tyres US Holdings Inc.  U.
S. District Court for the District of Alaska, Case No.
3:15-cv-00254 JWS.

The Debtor filed this action in 2014 alleging that Nokian PLC
unjustifiably terminated an exclusive distributorship agreement
with the Debtor. At the outset of the case Nokian Tyres PLC (the
parent company, based in Finland and Nokian Tyres US Holdings, Inc.
(a financing subsidiary) moved to dismiss the complaint as to them
due to lack of personal jurisdiction under Alaska's long arm
statute.

On June 23, 2015, District Judge Sedwick denied the motion as to
the parent company and granted it as to the financing subsidiary.
(The third defendant, a seller of tires based in the United States,
did not contest jurisdiction.) The case has not been active since
the Debtor filed this bankruptcy case, but will become active
shortly.  

JTS believes the litigation may generate a recovery from which the
Debtor, and therefore its creditors, may benefit.

Mr. Chaobal has provided a declaration that he does not hold or
represent an
interest adverse to the Debtor's bankruptcy estate as required by
11 U.S.C. Sec. 327 and is a disinterested person as defined by 11
U.S.C. Sec. 101(13).

Mr. Chaobal entered an appearance in the case on October 29, 2015
at the Debtor's request and has spent some time becoming familiar
with the case.

He charges $200 an hour.  He was paid a single fee of $2,500 by
Kelly Gaede personally.  

The Debtor requests that the firm's appointment be effective as of
October 29, 2015, nunc pro tunc.  

H. Watt & Scott, Inc., SOLO, LLC, WSW, LLC, Seven C Investments,
Inc., Robert A. Scott, Glenn L. Watts, Craig A. Watts, Bruce A.
Chambers, and Lisa M. Chambers -- Judgment Creditors -- oppose the
Nunc Pro Tunc hiring of the firm.  They contend that there are no
"exceptional circumstances" or "extraordinary circumstances" to
support a nunc pro tunc application.

They also note that Mr. Chaobal's statement that he was paid $2,500
by Kelly Gaede raises red flags.  Kelly Gaede is not an individual
plaintiff in the Federal Court Case.  Kelly Gaede's wages are being
garnished and were garnished before October of 2015.  It is highly
suspicious that Kelly Gaede would have the ability to pay Vikram
Chaobal $2,500, which raises red flags about the source of the
funds.  

The Judgment Creditors recount that the JTS, LLC Operating Report
for October of 2015 shows a wire transfer in the exact of amount
$2,500 being made on October 30, 2015 to "067014882 TD Bank, NA."
It may be unrelated but raises red flags and additional information
should be provided about the source of the $2,500 payment to
Chaobal and whether the funds were from the estate or whether Gaede
was reimbursed by the estate.  If the $2,500 funds were in fact
from the JTS, LLC estate, then further issues are raised.    

                            About JTS

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

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

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


JTS LLC: U.S. Trustee Seeks Conversion or Dismissal of Ch. 11 Case
------------------------------------------------------------------
Gail Brehm Geiger, acting U.S. Trustee for Region 18, asks the U.S.
Bankruptcy Court to convert JTS LLC's Chapter 11 case to a case
under Chapter 7 of the Bankruptcy Code or dismiss the case due to
the Debtor's dereliction of its fiduciary duties.

According to the U.S. Trustee, the Debtor mismanaged its estate by
conducting unauthorized asset sales of a secured creditor's
collateral and by liquidating its equipment at discounted cash
prices without Court approval and no advance notice to creditors or
other parties in interest.

The U.S. Trustee tells the Court that the Debtor admits through its
Sale Motion that it has sold certain equipment, one vehicle to a
former employee and another vehicle at half its estimated value
without authority of the Court or notice to parties in interest
despite its representation in the Status Statement -- which
provides that the Debtor's equipment is being relocated to the
Denali location and does not mention any liquidation effort.  The
U.S. Trustee also added that in the Sale Motion, the Debtor states
that it has sold some items from the Wasilla store but in truth the
equipment sales extended to other stores as per the declaration of
Jerry Fernandez.

According to the U.S. Trustee, a Chapter 7 trustee may recover from
creditors' payments received from the Debtor for pre-petition
debts, consider the value of and possibly collect the scheduled
asset values, and investigate the existence of any machinery,
equipment, and tools which may have been improperly transferred or
liquidated. Similarly, the chapter 7 trustee would have standing to
bring claims against the debtor’s management who may have
breached the fiduciary duties they owed to the estate in conducting
unauthorized post-petition sales.

A hearing on the U.S. Trustee's Motion for Conversion or Dismissal
of the Case has been set for April 13, 2016 and objections are due
by April 6, 2016.

Gail Brehm Geiger, Acting U.S. Trustee for Region 18 is represented
by:

     Thomas A. Buford III, Esq.
     Assistant United States Trustee
     OFFICE OF THE UNITED STATES TRUSTEE
     United States Courthouse
     700 Stewart Street, Suite 5103
     Seattle, WA 98101-1271
     Telephone: (206) 553-2000
     Facsimile: (206) 553-2566

        About JTS

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

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

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


LINN ENERGY: Moody's Cuts Corporate Family Rating to 'Ca'
---------------------------------------------------------
Moody's Investors Service downgraded Linn Energy, LLC's (LINE)
Corporate Family Rating (CFR) to Ca from Caa1, Probability of
Default Rating (PDR) to Ca-PD from Caa2-PD, its second lien secured
notes to C, its unsecured notes to C, and its Speculative Grade
Liquidity Rating was lowered to SGL-4 from SGL-3. At the same time,
Moody's downgraded Berry Petroleum Company's (Berry) senior
unsecured notes to Ca from Caa2. The rating outlooks at LINE and
Berry are negative.

Issuer: Linn Energy, LLC

-- Corporate Family Rating (CFR), downgraded to Ca from Caa1

-- Probability of Default Rating (PDR), downgraded to Ca-PD from
    Caa2-PD

-- Second Lien Secured notes, downgraded to C (LGD 5) from Caa1
    (LGD 4)

-- Senior Unsecured Notes, downgraded to C (LGD 5) from Caa3 (LGD

    5)

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

-- Outlook negative

Issuer: Berry Petroleum Company

-- Senior Unsecured Notes, downgraded to Ca (LGD 5) from Caa2
    (LGD 5)

-- Outlook negative

RATINGS RATIONALE

LINE's Ca CFR reflects its weak asset coverage of debt,
unsustainable capital structure, and challenged liquidity profile.
The company is in the process of evaluating strategic alternatives,
and as part of this process has exercised the 30-day grace period
on its 7.75% notes due 2021, 6.5% notes due 2021, and the Berry
notes due 2022. In addition, the company has exercised the 45-day
grace period to deliver certain mortgages on its second lien notes.
If the company is unsuccessful in its private restructuring
efforts, it may file a voluntary petition for reorganization relief
under Chapter 11 of the Bankruptcy Code.

LINE has been shutting in marginal wells, with 1,000 wells targeted
for shut-in in 2016. The well shut-in will reduce 2016 production
levels by about 8 thousand barrels of oil equivalent (mboe) per
day. While LINE has a very large and diversified production profile
(189 mboe/day in the fourth quarter of 2015), production is
expected to decline 6%-14% in 2016 from fourth quarter 2015
levels.

LINE's SGL-4 Speculative Grade Liquidity Rating reflects a weak
liquidity profile. The company is currently in default under its
credit facility as a result of the delivery of a going concern
audit opinion, and the company does not expect to remain in
compliance with its covenants under the credit facilities in 2016,
unless they are waived or amended. As of February 29, 2016, LINE
had $3.6 billion in drawings under its credit facility and Berry
had $899 million in drawings under its facility, as compared to
LINE's $3.6 billion borrowing base and Berry' $900 million
borrowing base. LINE has substantially curtailed its capital budget
to $340 million in 2016, which it expects to fund from operating
cash flow.

“The C ratings on both LINE's senior unsecured and second lien
notes, which are one notch below the Ca CFR, reflect the
contractual subordination to the fully drawn LINE revolver. In
addition, we assume overall weak recovery for the LINE notes.
Moody's is treating LINE's second lien notes as senior unsecured
obligations given that the collateral on the notes is not
perfected. Berry's senior unsecured notes are rated Ca, which
Moody's believes is more appropriate than the rating suggested by
Moody's LGD Methodology, given our higher recovery assumptions on
the Berry notes as compared to LINE's notes.”

The rating outlook is negative, reflecting LINE's unstainable
capital structure and the likely need to be restructured. The
ratings would be changed to D if the company fails to pay its
interest within the 30-day grace period. If LINE files for
bankruptcy, then all of the ratings will be withdrawn shortly
thereafter. “We could upgrade the ratings if the company improves
its liquidity profile and reduces its debt levels in order to
support stronger asset coverage of debt.”

Linn Energy, LLC is an exploration and production company based in
Houston, Texas.



LINN ENERGY: Widens Loss to $4.75-Bil. in 2015, Warns of Bankruptcy
-------------------------------------------------------------------
Linn Energy, LLC, filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss of $4.75
billion on $2.88 billion of revenues for the year ended Dec. 31,
2015, compared to a net loss of $452 million on $4.98 billion of
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Linn Energy had $9.97 billion in total assets,
$10.2 billion in total liabilities and a $269 million in
unitholders' deficit.

"I am pleased with the strong operational results the Company
generated for the fourth quarter and full-year 2015," said Mark E.
Ellis, chairman, president and chief executive officer.  "We were
able to achieve significant cost savings and continued to operate
our asset base efficiently through the outstanding work of our
employees and support from our vendors, suppliers and partners."

                    Going Concern Audit Report

Based on current estimates and expectations for commodity prices in
2016, LINN 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.

KPMG LLP, in Houston, Texas, noted that, [T]he Company has suffered
recurring losses from operations and is in violation of a
restrictive covenant and expects to be in violation of financial
covenants contained in its credit facilities that would accelerate
the maturity of the outstanding indebtedness making it immediately
due and payable.  The Company does not have sufficient liquidity to
meet the accelerated debt service requirements.  These issues raise
substantial doubt about the Company's ability to continue as a
going concern."

                      Strategic Alternatives

LINN's 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,
approximately $12 million on its 6.50% senior notes due September
2021 and approximately $18 million on the Berry Petroleum Company,
LLC senior notes due September 2022.  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.

"We are continuing to work with our advisors to review a full range
of strategic alternatives to reduce the Company's overall debt,"
said Mr. Ellis.  "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."

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.  As previously announced,
LINN 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.

                       Bankruptcy Warning

The Company's liquidity outlook has changed since the third quarter
of 2015 due to continued low commodity prices, which are expected
to result in significantly lower levels of cash flow from operating
activities in the future as the Company's current commodity
derivative contracts expire, and have limited the Company's ability
to access the capital markets.  In addition, each of the Company's
Credit Facilities is subject to scheduled redeterminations of its
borrowing base, semi-annually in April and October, based primarily
on reserve reports using lender commodity price expectations at
such time.  Continued low commodity prices, reductions in the
Company's capital budget and the resulting reserve write-downs,
along with the maturity schedule of the Company's hedges, are
expected to adversely impact the upcoming April redeterminations
and will likely have a significant negative impact on the Company's
liquidity.

"If lenders, and subsequently noteholders, accelerate the Company's
outstanding indebtedness (approximately $9.0 billion as of December
31, 2015), it will become immediately due and payable and the
Company will not have sufficient liquidity to repay those amounts.
If the Company is unable to reach an agreement with its creditors
prior to any of the above described accelerations, the Company
could be required to immediately file for protection under Chapter
11 of the U.S. Bankruptcy Code," the Company stated in the report.

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

                      http://is.gd/8gfafS

                       About Linn Energy

LINN Energy, LLC (NASDAQ: LINE) -- http://www.linnenergy.com/-- is
an oil and natural gas company.  The Company is focused on
acquiring, developing and maximizing cash flow from a portfolio of
oil and natural gas assets.  The Company's properties are located
in the United States, in the Rockies, the Hugoton Basin,
California, east Texas and north Louisiana (TexLa), the
Mid-Continent, the Permian Basin, Michigan/Illinois and south
Texas.

                        *     *     *

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.

Linn Energy, LLC carries a 'Caa1' corporate family rating from
Moody's Investors Service.


MAGNUM HUNTER: Panel Taps Berkeley Research as Financial Advisor
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of Magnum Hunter Resources Corporation, et al., sought and
obtained the Bankruptcy Court's permission to retain Berkeley
Research Group, LLC as its financial advisor nunc pro tunc to Dec.
23, 2015.

BRG, as financial advisor, will:

   a. assist and advise the Committee in its analysis and monitor
the Debtors' and non-Debtor affiliates' historical, current and
projected financial affairs, including schedules of assets and
liabilities and statement of financial affairs;

   b. advise and assist the Committee with respect to he use of
cash collateral and unencumbered cash including segregation of cash
as of the Petition Date and evaluation of the Debtors' proposed
postpetition cash tracking protocol and monitoring thereof; and

   c. monitor and trace as necessary, cash receipts and
disbursements to the appropriate source/asset and advice the
Committee on issues related to the tracking of cash and tracing as
necessary.

The hourly rates of BRG's professionals are:

         Managing Director                $650 - $940
         Director                         $450 - $650
         Professional Staff               $275 - $450
         Support Staff                    $125 - $250

The rates of professionals anticipated to be assigned to the
engagement are:

         Christopher Karns                   $940
         Mark Shankweiler                    $875
         Adrian Reed                         $775
         Rick Wright                         $665
         Brittany Ferro                      $375
         Brian Park                          $275

BRG will also charge for all other services provided and for
charges and disbursements incurred in rendering services to the
Committee.

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

The Committee is represented by:

         Norman L. Pernick, Esq.
         Patrick J. Reilley
         COLE SHOTZ P.C.
         500 Delaware Avenue, Suite 1410
         Tel: (302) 652-3131
         Fax: (302) 652-3117
         E-mails: npernick@coleschotz.com
                  preilley@coleschotz.com

              - and -

         Mark R. Somerstein, Esq.
         Mark I. Bane, Esq.
         ROPES & GRAY LLP
         1211 Avenue of the Americas
         New York, NY 10036-8704
         Tel: (212) 596-9000
         Fax: (212) 596-9090
         E-mail: mark.somertein@rropesgray.com
                 mark.bane@ropesgray.com

                        About Magnum Hunter

Magnum Hunter Resources Corporation is an oil and gas company
headquartered in Irving, Texas that primarily is engaged in the
acquisition, development, and production of oil and natural gas
reserves in the United States.  MHRC and its affiliates own
interests in approximately 431,643 net acres in total and have
proved reserves with an industry value of approximately $234.5
million as of December 31, 2015.  In the aggregate, MHRC generated
approximately $391.5 million in revenue from their operations in
2014 and generated approximately $169.3 million in revenues from
their operations for the ten months ended October 31, 2015.

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

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

As of Sept. 30, 2015, the Debtors reported approximately $1.1
billion in total liabilities, as well as $416.3 million in stated
value of preferred stock.  The Debtors' significant funded debt
obligations include: (a) approximately $70 million in principal
amount of obligations under the Debtors' Bridge Financing Facility;
(b) approximately $336.6 million in principal amount of obligations
under the Debtors' second lien credit agreement; (c) approximately
$13.2 million in principal amount of Equipment and Real Estate
Notes; and (d) approximately $600 million in principal amount of
Notes.


METROPOLITAN AUTOMOTIVE: Panel Taps A&M as Finc'l. Advisor
----------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
case of Metropolitan Automotive Warehouse, Inc. seeks Bankruptcy
Court authority to employ Alvarez & Marsal North America, LLC, as
its financial advisor effective as of January 25, 2016.

A&M is expected to render the following services, among others, to
the Committee:

  (a) gather, review, analyze and provide reporting regarding the
      immediate cash position, condition of the operations,
      staffing and general activities of the businesses of the
      Debtors, including providing any forensic accounting
      services necessary to do so;

  (b) analyze the Debtors' capital structure, including assets     

      and liabilities, particularly accounts receivable, secured
      debts and trade debt for purposes of evaluating short-term
      liquidity and reorganization alternatives;

  (c) review various alternatives for restructuring and assisting
      the Debtors and Committee with execution of the same,
      including but not limited to a recapitalization, or the
      sale of one or more facilities of the Debtors;

  (d) assist and advise the Committee in its participation in the
      negotiation, formulation and drafting of a plan of
      reorganization; and

  (e) assist, advise and represent the Committee in the
      evaluation of claims and on any litigation matters.

A&M will charge its normal and customary hourly rates for the
services to be provided, which are:

              Managing Directors      $750-$950
              Directors               $550-$750
              Associates              $400-$550
              Analysts                $350-$400

A&M will cap hourly rates at the following subject to negotiation
with the Committee:

              First 30 days           $100,000
              Day 31-60               $75,000
              Day 61-90               $50,000
              Monthly after 91 days   $20,000

A&M will also seek reimbursement of actual and necessary expenses
incurred.

To the best of the Committee's knowledge and based on the
declaration of Kelly B. Stapleton, A&M does not hold nor represent
any interest materially adverse to the interests of the estate or
any class of creditor or equity security holders in connection the
Debtor's cases.

The Firm can be reached at:

          ALVAREZ & MARSAL NORTH AMERICA, LLC
          Kelly Beaudin Stapleton
          600 Madison Ave., 8th Floor
          New York, New York 10022
          Tel No: (212)-763-9750
          E-mail: kstapleton@alvarezandmarsal.com
          

              About Metropolitan Automotive

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

The Debtor has estimated assets in the range $10 million to $50
million and estimated liabilities of $50 million to $100 million.
Judge Wayne E. Johnson has been assigned the case.

Richard Pachulski has been named as the Debtor's chief
restructuring officer. Winthrop Couchot Professional Corporation
serves as the Debtor's counsel.    

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.

A 7-member panel has been appointed as the official committee of
unsecured creditors in the Debtor's case.  Sidley Austin LLP
represents the Committee.


METROPOLITAN AUTOMOTIVE: Panel Taps Sidley Austin as Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors in the bankruptcy
case of Metropolitan Automotive Warehouse, Inc., sought and
obtained Bankruptcy Court approval to retain Sidley Austin LLP as
its counsel effective as of January 20, 2016.

Sidley Austin will be advising and representing the Committee in
certain matters related to the administration of the Debtor's
Chapter 11 cases and the exercise of oversight with respect to the
Debtor's affairs including all issues in connection with the
Debtors, the Committee or the Chapter 11 cases.

The hourly rates of Sidley's para-professionals and bankruptcy and
other professionals expected to render services to the Committee
range from approximately $375 to $950 per hour.  In partner, the
current hourly rate for partner Christina Craige is $825 per hour
and the currently hourly rate for associate Helena Tseregounis is
$695 per hour.  No Sidley personnel rendering services to the
Committee will bill over $950 per hour for 2016.  Sidley will also
charge for actual and necessary costs associated with its
engagement.

To the best of the Committee's knowledge, Sidley and its attorneys
are disinterested persons within the meaning of Section 101(14) of
the Bankruptcy Code.

In a conflict database review, Sidley determined that within the
last five years, Sidley has or currently is engaged with these
entities in matters unrelated to the Debtors' Chapter 11 cases:

  -- Bank of the West
  -- Federal Mogul Corporation
  -- KYB Co., Ltd
  -- Robert Bosch LLC
  -- Denso

The Firm can be reached at:

          SIDLEY AUSTIN LLP
          Jeffrey E. Bjork, Esq.
          Christina M. Craige, Esq.
          Helena G. Tseregounis, Esq.
          555 West Fifth Street, Suite 4000
          Los Angeles, California 90013
          Tel No: (213)896-6000
          Fax No: (213)896-6600
          E-mail: jbjork@sidley.com
                  ccraige@sidley.com
                  htseregounis@sidley.com

              About Metropolitan Automotive

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

The Debtor has estimated assets in the range $10 million to $50
million and estimated liabilities of $50 million to $100 million.
Judge Wayne E. Johnson has been assigned the case.

Richard Pachulski has been named as the Debtor's chief
restructuring officer. Winthrop Couchot Professional Corporation
serves as the Debtor's counsel.    

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.

A 7-member panel has been appointed as the official committee of
unsecured creditors in the Debtor's case.  Sidley Austin LLP
represents the Committee.


METROPOLITAN AUTOMOTIVE: Taps SierraConstellation as Fin. Advisor
-----------------------------------------------------------------
Metropolitan Automotive Warehouse, Inc., sought and obtained
Bankruptcy Court authority to employ SierraConstellation Partners
LLC as its financial advisor effective as of the Petition Date.

As advisor, SierraConstellation is expected to, among other
things:

-- Assist with short-term cash management procedures and
    liquidity forecasting, including the development and
    management of a 13-week cash flow forecast; updating,
    monitoring and reporting actual activity vs. forecast
    and with other reporting that may be required by the Debtors'
    lenders or other parties-in-interest;

-- Assist in the identification of cost reduction and operations
    improvement opportunities;

-- Assist with asset sale process including discussions with
    potential buyers, attaining and submitting information for
    buyer due diligence related to the sale, supplying supporting
    analysis and supporting completion of an Asset Purchase
    Agreement including schedules;

-- Assist with the preparation of information required by the
    Bankruptcy Court and the Office of the United States Trustee,
    including the seven-day package, the schedules of assets and
    liabilities and the statement of financial affairs;

-- Prepare financial information, including all quarterly and
    monthly reports, as required by the Office of the United
    States Trustee;

-- Assist with the preparation of other financial information to
    be used in the cases on behalf of the Debtors;

-- Prepare additional financial analysis, as needed, to support
    business decisions;

-- Interface with creditor groups and their representatives, in
    coordination with counsel to the Debtors and management, to
    mitigate and remedy creditor claims pursuant to the
    Bankruptcy Code;

-- Assist with the bankruptcy process and the timely preparation
    of a plan of reorganization;

-- Assist with the development of a communications plan for
    internal/employees, vendors, customers, and public; and

-- Assist with managing vendor relationships.

As part of the retention, the Debtors are retaining Lawrence
Perkins of SierraConstellations to serve as engagement manager and
maintain overall responsibility for the engagement on
behalf of the Firm.

The Firm's hourly rates are:

   Title                                    Hourly Rates
   -----                                    ------------
   Lawrence Perkins as engagement manager     $495
   Karl Pearson as project leader             $450
   Senior Director                            $405
   Director                                   $360
   Associates                                 $255
   Analyst                                    $150 to 200
   Administrative Staff                       $100

The Firm will also seek reimbursement of actual and necessary
expenses related to the engagement.

The Firm affirmed that it has conducted a conflicts check on the
Debtors' creditors.  To the best of its knowledge, the Firm asserts
that it does not hold or represent any interest adverse to the
Debtor's estate and is a "disinterested person" as that phrase is
defined in Bankruptcy Code Section 101(14).

              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.
Judge Wayne E. Johnson has been assigned the case.

Richard Pachulski has been named as the Debtor's chief
restructuring officer. Winthrop Couchot Professional Corporation
serves as the Debtor's counsel.    

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.

A 7-member panel has been appointed as the official committee of
unsecured creditors in the Debtor's case.


MOBILE IV SYSTEMS: Case Summary & 3 Unsecured Creditors
-------------------------------------------------------
Debtor: Mobile I.V. Systems, LLC
        22730 Seneca Circle
        Chugiak, AK 99567

Case No.: 16-00061

Chapter 11 Petition Date: March 16, 2016

Court: United States Bankruptcy Court
       District of Alaska (Anchorage)

Debtor's Counsel: Michael R. Mills, Esq.
                  DORSEY & WHITNEY LLP
                  1031 West Fourth Avenue, Suite 600
                  Anchorage, AK 99501-5907
                  Tel: (907) 276-4557
                  Fax: (907)276-4152
                  E-mail: mills.mike@dorsey.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gerold S. Gugel, manager.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/akb16-00061.pdf


MOLYCORP INC: Wants to Pay $70K Pension Plan Contribution
---------------------------------------------------------
Molycorp, Inc. and its affiliated debtors ask the U.S. Bankruptcy
Court for the District of Delaware for authorization to pay
quarterly contributions owed to a legacy defined benefit pension
plan for the first quarter of 2016 ("Pension Contribution"), in the
ordinary course of business.

Prior to the Petition Date, debtor Magnequench International, Inc.
maintained a defined benefit pension plan for certain of its United
States Employees.  The Pension Plan is an ERISA-qualified benefit
plan, the costs of which are paid by Magnequench.

The Debtors contend that the Pension Plan eliminated any ongoing
benefit accruals prior to the Petition Date and that no party is
accruing further benefits under the Pension Plan for work they are
presently performing for the Debtors.  The Debtors believe that all
funding obligations relating to the Pension Plan are prepetition
obligations of Magnequench.

The Debtors tell the Court that the contributions are made in
quarterly installments payable on April 15th, July 15th, October
15th and January 15th following the relevant valuation date, and a
true-up contribution is made no later than the following September
15th.  The Debtors further tell the Court that they are now
required to make an additional ordinary course cash contribution to
the Pension Plan for the first quarter of 2016 in an amount no
greater than $70,000, plus any accrued interest.  They contend that
the special rights granted to pension obligations under the
Employee Retirement Income Security Act of 1974 ("ERISA") and the
"Doctrine of Necessity" provide a basis for the relief requested.

Molycorp, Inc. and its affiliated Debtors are represented by:

          M. Blake Cleary, Esq.
          Edmon L. Morton, Esq.
          Justin H. Rucki, Esq.
          Ashley E. Jacobs, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Telephone: (302)571-6600
          Facsimile: (302)571-1253
          E-mail: mbcleary@ycst.com
                 emorton@ycst.com
                 jrucki@ycst.com
                 ajacobs@ycst.com

                 - and -

          Paul D. Leake, Esq.
          Lisa Laukitis, Esq.
          George R. Howard, Esq.
          JONES DAY
          222 East 41st Street
          New York, NY 10017
          Telephone: (212)326-3939
          Facsimile: (212)755-7309
          E-mail: pdleake@jonesday.com
                 llaukitis@jonesday.com
                 grhoward@jonesday.com

                 - and -

          Brad B. Erens, Esq.
          Joseph M. Tiller, Esq.
          JONES DAY
          77 West Wacker
          Chicago, IL 60601
          Telephone: (312)782-3939
          Facsimile: (312)782-8585
          E-mail: bberens@jonesday.com
                  jtiller@jonesday.com

                       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.


NEOGENIX ONCOLOGY: 2nd Amended Disclosure Statement Approved
------------------------------------------------------------
Bankruptcy Judge Thomas Catliota in Maryland ruled in open court at
a hearing on March 15, 2016, approving the second amended
disclosure statement explaining Neogenix Oncology's Second Amended
Plan of Liquidation.  A written order has yet to be entered on the
case docket.  In addition, the hearing to confirm the Plan has yet
to be set.

Neogenix filed the revised Plan documents on Jan. 28, 2016.

The Plan contemplates a liquidation of the Debtor's assets and a
Distribution of Cash, provision of a release for management, and/or
distribution of Precision Biologic common stock to Holders of
Allowed Claims and Holders of Allowed Interests consistent with
applicable provisions of the Plan and the Bankruptcy Code.

The Debtor already sold its assets to Precision Biologics.  That
deal closed on Sept. 24, 2012.  Through the Sale, all of the
Debtor's rights, title, and interests in its operating assets,
including without limitation, its patents, office equipment, and
laboratory equipment, were transferred to Precision Biologics.

Precision Biologics paid the Debtor $3,965,000 minus a credit of
$1,172,525,37 representing payoff and full satisfaction of the DIP
Financing Facility that the Buyer provided.  The remaining proceeds
of $2,792,474.63 went to the Debtor.

Precision Biologics also issued the Debtor 5.5 million shares of
Precision Biologics's common stock to be distributed to the
Debtor's shareholders on a pro rata basis pursuant to the terms of
the Plan.  The 5.5 million PB shares represents approximately 25%,
but not less than 20%, of Precision Biologics total equity.
Pursuant to the terms of the  Asset Purchase Agreement, there is
also an option to purchase an additional 5 million shares of PB
stock at $1.50 per share.

Under the APA, $730,000 of the $3,965,00 cash component of the
purchase price constituted Contingent Cash as defined in the sale
agreement.  Pursuant to the terms of the APA, as subsequently
amended, as well as the terms of the Bid Procedures Order and the
terms of the DIP and Exit Financing Loan Agreement and the Order
approving the same, the Debtor has agreed to repay Precision
Biologics the $730,000 in Contingent Cash plus interest compounded
annually at 12% per annum out of any proceeds received by the
Debtor from the Existing Claims, as defined in the APA, after (1)
payment of the Liquidating Trustee's fees and expenses, the
Liquidating Trustee Professionals' fees and expenses, the
Liquidating Trust Oversight Committee's expenses, and the
Liquidating Trust Oversight Committee Counsel's fees and expenses,
and (2) repayment of the DIP and Exit Financing Loan.

The Second Amended Plan designates four Classes of Claims and two
Classes of Interests in the Debtor.

Secured claims against the Debtor are in Class 1 and to be paid in
full.  The Debtor says the allowed amount of Class 1 claims total
$0.

Non-Tax Priority Claims are in Class 2.  Holders of the Claim, if
any, will be paid 100% of the Allowed amount.  The Debtor, however,
says the allowed amount of Class 2 claims total $0.

Director and Officer Indemnification Claims comprise Class 3.  The
estimated aggregate Allowed amount of Class 3 Claims is
"undetermined".  On the Effective Date, the Directors and Officers
will receive Releases in full and final satisfaction of the Allowed
Indemnification Claims.

General Unsecured Claims -- estimated to total $65,000 to $90,000
-- are in Class 4.  Holders of the Claim will be paid in full in
Cash.

Class 5 consists of Interests (Common Stock / Potential Shareholder
Rescission Claims).  Holders are entitled to receive stock in
Precision Biologic and a pro rata share of litigation proceeds, if
any.

Classes 6 consists of Interests (Unexercised Stock Options) and
will get nothing.

Precision Biologics is a corporation formed specifically for the
purpose of purchasing the Debtor's assets.  It was initially owned
and managed by its founder, Stanley B. Archibald, Jr., who is both
a shareholder of Neogenix as well as a former member of the Board
of Directors of Neogenix.  He served on Neogenix's Board for
approximately seven months from June 2011 until early February
2012.

Mr. Archibald resigned from the Debtor's Board of Directors in
early February 2012 in order to explore the potential viability of
raising money and forming a new company to buy the Debtor's
operating assets through a strategic chapter 11 bankruptcy filing
and a Sec. 363 sale process.

                            *     *     *

Neogenix is taking a second stab at Plan confirmation.  On March
11, 2014, the Court denying confirmation of the First Amended Plan
over the third party release provisions.  The Court found that the
First Amended Plan met most requirements for confirmation, but
nevertheless denied confirmation on the basis that Shareholders
were not provided with sufficient notice of releases proposed in
the plan for certain of Neogenix's officers and directors.
Furthermore, the Court found Shareholders were not provided with
sufficient opportunity to evidence whether they consented to these
releases.

Neogenix and the Official Committee of Equity Security Holders have
worked together in a collaborative manner to address the issues
raised by the Court with respect to the third party release
provisions.  In a March 10, 2016 letter to fellow shareholders, the
Equity Committee strongly recommends that each Shareholder timely
vote to accept the Plan and that the Shareholders do not opt out of
consenting to the D&O Releases.

The Second Amended Plan provides that in the event that any Class 5
Interest Holders timely return a Ballot that either (1)
affirmatively elects to opt-out of the D&O Release set forth in
Articles 3 and 10 of the Plan or (2) is otherwise deemed to have
opted-out of the D&O Release, then in that event, the D&O Release
will not be effective as to only the Non-Releasing Interest
Holders.  In this event, the Debtor's Indemnification Obligations
to the Directors and Officers shall remain in full force and effect
as they relate to any claims against the Directors and Officers
made by any of the Non-Releasing Interest Holders.  In addition,
after the Effective Date, the Indemnification Obligations shall
become the obligation of the Liquidation Trust to be established
under the Plan.

In the event that the number of total shares of the Debtor's Common
Stock held by the Non-Releasing Interest Holders exceeds 3% of all
of the Debtor's Common Stock entitled to vote on the Plan, then in
that event, the Debtor's Directors and Officers shall not receive
the D&O Release but, rather, the Indemnification Obligations to the
Directors and Officers will remain in full force and effect, and
shall become an obligation of the Liquidation Trust.

As to Class 5, the Second Amended Plan provides that in the event
that any Class 5 Interest Holders timely return a Ballot that
either (1) affirmatively elects to opt-out of the D&O Release set
forth in Articles 3 and 10 of the Plan or (2) is otherwise deemed
to have opted out of the D&O Release, then in that event, (1) the
Non-Releasing Interest Holders will not be entitled to receive
their pro rata share of the Precision Biologics Stock but, rather,
their pro rata share of the PB Stock shall be held by the
Liquidation Trust and used by the Liquidation Trust to satisfy the
Debtor's Indemnification Obligations to the Directors and Officers.
In addition, no Class 5 Interest Holders will be entitled to
receive a pro rata distribution of the Net Litigation Recoveries
but, rather, all of the Net Litigation Recoveries shall be held by
the Liquidation Trust and used to satisfy the Indemnification
Obligations to the Directors and Officers.  

In the event that the number of total shares of the Debtor's Common
Stock held by the Non-Releasing Interest Holders exceeds 3% of all
of the Common Stock entitled to vote on the Plan and, as a result,
the Debtor's Directors and Officers do not receive the D&O Release
but, rather, the Indemnification Obligations to the Directors
and Officers remain in full force and effect, then in that event,
no Class 5 Interest Holders will be entitled to receive a pro rata
distribution of the PB Stock. Rather, all of the PB Stock shall be
held by the Liquidation Trust and used to satisfy the
Indemnification Obligations to the Directors and Officers.

Neogenix is represented in the case by:

     GREENBERG TRAURIG, LLP
     Thomas J. McKee, Jr., Esq.
     1750 Tysons Boulevard, Suite 1000
     McLean, VA 22102
     Telephone: (703) 749-1300
     Facsimile: (703) 749-1301
     E-mail: mckeet@gtlaw.com

          - and -

     GREENBERG TRAURIG, LLP
     Maria J. DiConza, Esq.
     200 Park Avenue
     New York, New York 10166
     Telephone: (212) 801-9200
     Facsimile: (212) 801-6400
     E-mail: diconzam@gtlaw.com

          - and -

     THE RIFKEN LAW FIRM PLLC
     Lawrence E. Rifken, Esq.
     11135 Bowen Avenue
     Great Falls, VA 22066
     Telephone: (703) 407-6266
     E-mail: lrifken@rifkenlaw.com

Coúnsel for the Official Committee of Equity Security Holders:

     J. Jonathan Schraub, Esq.
     SANDS ANDERSON PC
     1497 Chain Bridge Road, Suite 202
     Mclean, VA 22101 -5728
     Telephone: 703.893.3600

          - and -

     Roy M. Terry, Jr., Esq.
     William A. Gray, Jr., Esq.
     SANDS ANDERSON PC
     Post Office Box 1998
     Richmond, VA 23218-1998
     Telephone: 804.648.1636

                      About Neogenix Oncology

Neogenix Oncology Inc. in Rockville, Maryland, filed a Chapter 11
petition (Bankr. D. Md. Case No. 12-23557) on July 23, 2012, in
Greenbelt with a deal to sell the assets to Precision Biologics
Inc., absent higher and better offers.

Founded in December 2003, Neogenix is a clinical stage,
pre-revenue generating, biotechnology company focused on
developing
therapeutic and diagnostic products for the early detection and
treatment of cancer.  Neogenix, which has 10 employees, says it
its
approach and portfolio of three unique monoclonal antibody
therapeutics -- hold the potential for novel and targeted
therapeutics and diagnostics for the treatment of a broad range of
tumor malignancies.

Thomas J. McKee, Jr., Esq., at Greenberg Traurig, LLP, in McLean,
Virginia, serves as counsel.  Kurtzman Carson Consultants LLC is
the claims and notice agent.  Piper Jaffray & Co. serves as the
Debtor's investment banker and financial advisor.  Reid Collins &
Tsai LLP serves as the Debtor's Special Counsel.  The Rifken Law
Firm PLLC serves as co-counsel to the Debtor.

The Debtor estimated assets of $10 million to $50 million and
debts of $1 million to $10 million.

The U.S. Trustee for Region 4 has appointed seven members to the
committee of equity security holders.  Sands Anderson PC
represents the Official Committee of Equity Security Holders.  The
Committee tapped FTI Consulting, Inc., as its financial advisor.


NEW GULF RESOURCES: To Hire Grant Thornton as Independent Auditor
-----------------------------------------------------------------
New Gulf Resources, LLC and its debtor affiliates will appear
before the Delaware Bankruptcy Court at a hearing on March 24,
2016, at 10:00 a.m. to seek approval of their request to employ
Grant Thornton LLP as independent auditor to the Debtors.

The Debtors have employed Grant Thornton since December 6, 2011 to
provide audit services.  They now need to the firm to complete an
audit of their consolidated balance sheet as of December 31, 2015,
and consolidated statements of operations, members' equity and cash
flows for the year then ended.

As set forth in the Engagement Letter, Grant Thornton estimates
that the total cost of its 2015 audit services will be $180,000,
based on its standard hourly rates for this type of work, ranging
from $120 to $180 per hour.  New Gulf will pay Grant Thornton a
$45,000 retainer before the commencement of work.

The Debtors contend that Grant Thornton's fees are reasonable.  

John H. Meinders -- john.meinders@us.gt.com -- a partner at the
firm, says Grant Thornton has not received or been promised any
compensation for services rendered or to be rendered in any
capacity in connection with the Chapter 11 Cases, other than as
permitted by the Bankruptcy Code.  

Mr. Meinders discloses that during the 90 days immediately
preceding the Petition Date, the Debtors made these payments to
Grant Thornton for prepetition professional services:

     Payment of $71,925.00 on November 13, 2015
          for the June 30, 2015 audit; and

     Payment of $21,000.00 on December 1, 2015
          for the September 30, 2014 and 2015 reviews.

Mr. Meinders attests that Grant Thornton (a) does not hold or
represent any interest adverse to the Debtors' estates and (b) is a
"disinterested person" as that term is defined in Bankruptcy Code
section 101(14), as modified by Bankruptcy Code section 1107(b).

                  About New Gulf Resources, LLC

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

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

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


NEW LOUISIANA: Can Use Cash Collateral Until April 1
----------------------------------------------------
Judge Robert Summerhays of the U.S. Bankruptcy Court for the
Western District of Louisiana, Lafayette Division, approved the
Eighth Amendment to the Amended and Restated Debtor In Possession
Loan and Security Agreement, by and between Lender SA Mezz Holdings
LLC, and Borrowers, SA-Lakeland, LLC, SA-Clewiston, LLC, SA-St.
Petersburg, LLC, CHC-SPC Operator, Inc. and CHC-CLP Operator
Holding, LLC.

Judge Summerhays authorized the Debtors to use cash collateral and
any available loan proceeds for expenses incurred by the Debtors
for the period Feb. 27, 2016, through April 1, 2016.  Judge
Summerhays also authorized the Debtors to pay the budgeted fees and
expenses of professionals of the estates incurred for the period
Feb. 1, 2016 through Feb. 29, 2016 in accordance with the
Supplemental DIP Order and the DIP Budget.

A full-text copy of the Amended Cash Collateral Order with Budget
is available at http://bankrupt.com/misc/NLHdipord0309.pdf

          About New Louisiana Holdings

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

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

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

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

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

The Debtors are represented by Patrick J. Neligan, Jr., Esq., at
Neligan Foley LLP, in Dallas, Texas.  Jan M. Hayden and Baker
Donelson Bearman Caldwell & Berkowitz, P.C. serves as local
counsel.

The U.S. Trustee for Region 5 on Oct. 3, 2014, appointed three
creditors of New Louisiana Holdings, LLC, to serve on the official
committee of unsecured creditors.  Pepper Hamilton LLP and
McGlinchey Stafford PLLC serve as counsel to the Committee.


NEWBURY COMMON ASSOCIATES: Court OKs Donlin Recano as Admin Agent
-----------------------------------------------------------------
Newbury Common Associates, LLC, et al., sought and obtained
permission from the Hon. Laurie Selber Silverstein of the U.S.
Bankruptcy Court for the District of Delaware to employ Donlin,
Recano & Company, Inc. as administrative agent, nunc pro tunc to
January 26, 2016.

The Debtors require Donlin Recano to:

   (a) assist with, among other things, solicitation, balloting,
       and tabulation and calculation of votes, as well as
       preparing any appropriate reports, as required in
       furtherance of confirmation of plans of reorganization;

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

   (c) in connection with the Balloting Services, handle requests
       for documents from parties in interest, including, if
       applicable, brokerage firms and bank back-offices and
       institutional holders;

   (d) gather data in conjunction with the preparation, and assist

       with the preparation, of the Debtors' schedules of assets
       and liabilities and statements of financial affairs;

   (e) provide a confidential data room, if requested;

   (f) managing and coordinating any distributions pursuant to a
       confirmed plan of reorganization or otherwise; and

   (g) provide such other processing, solicitation, balloting, and

       other 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, the Court or Clerk of the Bankruptcy Court,
       including but not limited to the preparation of the
       Debtors' monthly operating reports.

Donlin Recano will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Roland Tomforde, chief operating officer of Donlin Recano, 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.

Donlin Recano can be reached at:

       Roland Tomforde
       DONLIN, RECANO & COMPANY, INC.
       48 Wall Street
       New York, NY 10005
       Tel: (212) 481-1411

                 About Newbury Common Associates

Newbury Common Associates, LLC, et al., comprise a corporate
enterprise that owns a diverse portfolio of high quality,
distinctive commercial, hospitality and residential properties with
an aggregate of approximately 800,000 square feet located primarily
in Stamford, Connecticut.

On Dec. 13, 2015, Newbury Common Associates, LLC, and 13 affiliates
each commenced a voluntary case (Bankr. D. Del. Lead Case No.
15-12507) under chapter 11 of the Bankruptcy Code, and on Dec. 14,
Tag Forest LLC commenced a Chapter 11 case (collectively, "Original
Debtors").  On Feb. 3, 2016, Newbury Common Member Associates, LLC
and 8 affiliates commenced a voluntary case under chapter 11 of the
Bankruptcy Code; and then on Feb. 4, 88 Hamilton Avenue Associates,
LLC filed a Chapter 11 petition (collectively "Additional
Debtors").

Seaboard Realty, LLC, its principals or entities it manages serve
as the manager under the operating agreements for each of the
Debtors and is owned 50% by John J. DiMenna, Jr., 25% by Thomas L.
Kelly, Jr. and 25% by William A. Merritt, Jr.  The Original
Debtors other than Seaboard Residential, LLC, Tag, and Newbury
Common Associates, LLC, are holding companies whose assets are
substantially comprised of the equity of the Property Owner
Debtors.  The Debtors' eight operating property are owned by the
"Property Owner Debtors", namely Century Plaza Investor Associates,
LLC; Seaboard Hotel Associates, LLC; Seaboard Hotel LTS Associates,
LLC; Park Square West Associates, LLC; Clocktower Close Associates,
LLC; One Atlantic Investor Associates, LLC; 88 Hamilton Avenue
Associates, LLC; 220 Elm Street I, LLC; 300 Main Street Associates,
LLC; and Seaboard Residential, LLC.

The Original Debtors' chapter 11 cases are being jointly
administered pursuant to an order entered Dec. 18, 2015.  The
Debtors later won approval of a supplemental motion seeking joint
administration of the Additional Debtors' Chapter 11 cases with
the cases of the Original Debtors for procedural purposes only.

As of Jan. 7, 2016, the Debtors had incurred purported aggregate
funded secured indebtedness of approximately $177.2 million in
principal, including approximately $150.4 million of property-level
secured debt and approximately $26.8 million of purported and
allegedly unauthorized mezzanine debt.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, and
Dechert LLP as attorneys, and Donlin Recano as claims and noticing
agent.


NORANDA ALUMINUM: Annual Report Delayed; Projects Wider Net Loss
----------------------------------------------------------------
Noranda Aluminum Holding Corporation will delay the filing of its
2015 Annual Report on Form 10-K with the U.S. Securities and
Exchange Commission.

The Company explained that management has been required to devote
significant efforts to the Chapter 11 bankruptcy proceedings,
including participation in the ongoing preparation of various
motions filed and to be filed with the Bankruptcy Court. In
addition, Company management has been required to devote
significant efforts to participating in activities and providing
information in accordance with the Company's affirmative covenants
under its debtor-in-possession financing agreements, including,
among others:

     -- participation in a process designed to effect a sale of
        the Company's Downstream Business by July 5, 2016,

     -- delivery of a business plan acceptable to the lenders no
        later than April 7, 2016, and

     -- provision of an acceptable reorganization plan for the
        Upstream Business by May 28, 2016.

Moreover, during the last two months the Company has effected
workforce reductions that decreased corporate personnel by more
than 25%.  These reductions, coupled with numerous employee
resignations, have increased the formidable efforts required from
the Company's remaining financial and administrative personnel.

The Company expects to report a net loss of approximately $259.6
million for the fiscal year ended December 31, 2015, as compared to
a net loss of approximately $26.6 million for the fiscal year ended
December 31, 2015.

Gail E. Lehman, Noranda's Chief Administrative Officer, General
Counsel and Corporate Secretary, said a significant cause of the
increase in net loss is the marked decline in aluminum prices
during 2015. The average realized Midwest transaction price
("MWTP") for aluminum in 2015 was $0.88 per pound, which represents
the sum of the $0.75 per pound London Metal Exchange ("LME")
aluminum price and the $0.13 per pound Midwest premium (a surcharge
that aluminum consumers pay in respect of logistics, warehousing
and market supply and demand dynamics). This constitutes a
significant decline from the $1.03 per pound average MTWP for
aluminum in 2014, which represents the sum of the $0.85 per pound
LME aluminum price and the $0.18 per pound Midwest premium. The
decline in the MTWP, coupled with lower external shipments at the
Company's Primary Aluminum and Bauxite segments (partially offset
by higher external shipments at the Alumina segment), were the
principal factors behind a decrease in sales from $1.4 billion in
2014 to $1.2 billion in 2015.

Additional factors contributing to the increase in the Company's
net loss in its Primary Aluminum segment are (i) the Company's
previously reported third quarter 2015 recognition of a $137.6
million impairment charge and (ii) the previously reported
incidents at the Company's New Madrid, Missouri smelter, including
an unusually high concentration of reduction cell failures,
requiring the reallocation of personnel effort towards stabilizing
the entire production process, and an explosion at the smelter's
casthouse that rendered the Company unable to produce extrusion
billet.

In addition, factors contributing to the increase in the Company's
net loss within its Bauxite segment include (i) the increased
production levy payable by the Company's wholly-owned subsidiary,
National Bauxite Limited ("NBL") to the Government of Jamaica and
(ii) losses on a bauxite supply contract with NBL's principal
third-party bauxite customer.

                     About Noranda Aluminum

Noranda Aluminum Holding Corporation is an integrated producer of
primary aluminum and high-quality rolled aluminum coils.  The
Company has two businesses: an Upstream Business and a Downstream
Business.  The Upstream Business consists of a smelter near New
Madrid, Missouri, referred to as "New Madrid," and supporting
operations at a bauxite mining operation ("St. Ann") and an
alumina
refinery ("Gramercy").  The Downstream, or Flat-Rolled Products
Business is one of the largest aluminum foil producers in North
America, and consists of four rolling mill facilities.

Headquartered in New Madrid, Missouri, Noranda Aluminum, Inc., et
al., engaged in the production of primary aluminum and rolled
aluminum coils, filed separate Chapter 11 bankruptcy petitions
(Bankr. E.D. Mo. Proposed Lead Case No. 16-10083) on Feb. 8, 2016.

The petitions were signed by Dale W. Boyles, the chief financial
officer.  Judge Barry S. Schermer is assigned to the case.

The Debtors had approximately 1,857 employees as of the Petition
Date.

The Debtors estimated both assets and liabilities in the range of
$1 billion to $10 billion.  As of the Petition Date, the Debtors
had approximately $529.6 million in outstanding principal amount
of
secured indebtedness, consisting of a revolving credit facility
and
a term loan facility.

The Debtors have engaged Paul, Weiss, Rifkind, Wharton & Garrison
LLP as general counsel, Carmody MacDonald P.C. as local counsel,
PJT Partners, LP as investment banker, Alvarez & Marsal North
America, LLC as restructuring advisors and Prime Clerk LLC as
claims, solicitation and balloting agent.

The Office of the U.S. Trustee appointed seven creditors of
Noranda
Aluminum Holding Corp. and its affiliated debtors to serve on the
official committee of unsecured creditors.


NORFE GROUP: Can Hire Carrasquillo as Financial Consultant
----------------------------------------------------------
Norfe Group Corp. needs an accountant to assist its management in
the financial restructuring of its affairs by providing advice in
strategic planning and the preparation of the Debtor's plan of
reorganization, disclosure statement and business plan, and
participating in the Debtor's negotiations with the Debtor's
creditors.

Norfe Group has selected CPA Luis R. Carrasquillo & Co., P.S.C.,
and has won approval from the Puerto Rico bankruptcy court to
employ the firm.

The Debtor has retained Carrasquillo on the basis of a $10,000
retainer paid by Norfe Development Corporation, the Debtor's
affiliate.

Luis R. Carrasquillo discloses that his firm has provided financial
consulting services to the Debtor's president, David Efron, Esq.,
in his reorganization proceedings under Chapter 11 before the
Puerto Rico Court in Case No. 11-02466(BKT).  He attests that he
and the members of his accounting firm are disinterested persons as
defined in 11 U.S.C. Sec. 101(14).

The firm's standard hourly billing rates:

     CPA Luis R. Carrasquillo    Partner         $175
     CPA Marcelo Gutierrez       Senior CPA      $125
     Lionel Rodriguez Perez      Sr. Accountant   $90
     Carmen Callejas Echevarria  Sr. Accountant   $85
     Alfredo J. Segarra          Sr. Accountant   $80
     Janet Marrero               Administrative
                                   and Support    $45
     Iris L. Franqui             Administrative
                                    and Support   $45

The firm may be reached at:

     CPA Luis R. Carrasquillo & Co, P.S.C.
     28th Street, #TI-26
     Turabo Gardens Avenue
     Caguas, Puerto Rico 00725
     Tel: 787-746-4555
          787-746-4556
     Fax: 787-746-4564

                        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 firm scheduled $17,269,436 in total assets and $31,441,591 in
total liabilities.

The Debtor tapped Charles Alfred Cuprill, Esq., at Charles A
Cuprill, PSC Law Office, as counsel.  CPA Luis R. Carrasquillo &
Co., P.S.C., serves as financial consultant.


NORFE GROUP: Cuprill Firm Approved as Bankruptcy Counsel
--------------------------------------------------------
Norfe Group Corp. told the Puerto Rico bankruptcy court it is not
sufficiently familiar with the law to be able to Chapter 11 plan
and conduct the bankruptcy proceedings without competent legal
counsel.  Accordingly, the Debtor sought and obtained authority to
employ Charles A. Cuprill, P.S.C., Law Offices, as attorney, to
represent the Debtor in these proceedings.

The Debtor has provided the firm with a $10,000.00 retainer paid by
Norfe
Development Corporation, the Debtor's affiliate, against which the
law firm will bill on the basis of:

     $350.00 per hour, for work performed or to be performed by
Charles A. Cuprill-Hernández, Esq.;

     $250.00 per hour for any associate, and

     $85.00 for paralegals.

Charles A. Cuprill, Esq., discloses that his firm represented the
Debtor's president, David Efron, Esq., in his own Chapter 11
proceedings before the Puerto Ricoi Court in Case No.
11-02466(BKT); before the United States Bankruptcy Appellate Panel
for the First Circuit in Case Nos. 13-035, 13-054, 14-018, 14-027
and 14-035; in the case styled PR Asset Portfolio 2013-1
International Sub 1, LLC v. Efron Dorado, SE, Norfe Group Corp.,
Norfe Development Corp., et. al., Case No. K CD2014-0714(803),
before the Court of First Instance of Puerto Rico, Superior Section
of San Juan, and in the case PR Asset Portfolio 2013-1
International Sub 1,LLC v. David Efron, Case No. K
CD2014-2808(803); before the Court of First Instance; and the Law
Offices of David Efron, P.C., before the United States District
Court for the District of Puerto Rico in Case Nos. 15-01231(JAF)
and 14-01202(DRD); and in Case No. 16-1010, before the United
States Court of Appeals for the First Circuit.

Mr. Cuprill attests his firm is a disinterested entity as defined
in 11 U.S.C. Sec.101(14).

The firm may be reached at

     CHARLES A. CUPRILL-HERNANDEZ
     Charles A. Cuprill, P.S.C., Law Offices
     356 Fortaleza Street, Second Floor
     San Juan, PR  00901
     Tel: 787-977-0515
     Fax: 787-977-0518
     E-Mail: ccuprill@cuprill.com

                        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 firm scheduled $17,269,436 in total assets and $31,441,591 in
total liabilities.

The Debtor tapped Charles Alfred Cuprill, Esq., at Charles A
Cuprill, PSC Law Office, as counsel.  CPA Luis R. Carrasquillo &
Co., P.S.C., serves as financial consultant.


NORTH AMERICAN HEALTH: Elder Abuse Claimants Committee Sought
-------------------------------------------------------------
Medliance LLC has filed a motion seeking the appointment of a
separate committee of elder abuse claimants for North American
Health Care Inc.'s affiliate.

In its motion, the company asked the U.S. Bankruptcy Court for the
Central District of California to appoint a committee that will
represent creditors who allegedly suffered elder abuse at
Carmichael Care Inc.

According to Medliance, the official committee of unsecured
creditors appointed on Feb. 11 by the U.S. trustee in the
companies' jointly administered bankruptcy cases "inadequately"
represents creditors of North American Health.

Medliance said only two of the seven members of the unsecured
creditors' committee are "true creditors" of North American Health
while the other members, four of whom are elder abuse claimants of
Carmichael, only hold "alter ego" claims against the company.

"This imbalance and difference of interests will result in the
majority of the members allowing the current committee to vote for
confirmation of a plan that proposes to pay less to North American
creditors than Carmichael creditors," Medliance said in the court
filing.

Medliance said only direct creditors of North American Health
should serve on the unsecured creditors' committee while the elder
abuse claimants of its affiliate should serve on a separate
committee.

In case its request is denied, Medliance wants the bankruptcy court
to appoint another committee that consists only of trade creditors
of North American Health.

                  About North American Health

North American Health Care, Inc. is a nursing home headquartered in
Dana Point, California.  It operates more than 30 homes in
California and other Western states.  North American Health Care,
Inc., filed a voluntary petition under Chapter 11 of the Bankruptcy
Code (Bankr. C.D. Cal. Case No. 15-10610) on Feb. 6, 2015.  The
Hon. Mark S Wallace presides over the Chapter 11 case.  David L.
Neale, Esq., at Levene, Neale, Bender, Yoo & Brill LLP, serves as
counsel to the Debtor.  In its petition, the Debtor estimated $1
million to $10 million in both assets and liabilities.  The
petition was signed by John L. Sorensen, president and chief
executive officer.  A list of the Debtor's 15 largest unsecured
creditors is available for free at
http://bankrupt.com/misc/cacb15-10610.pdf


OCWEN FINANCIAL: Moody's Review B2 Ratings for Downgrade
--------------------------------------------------------
Moody's Investors Service has placed the following ratings of Ocwen
Financial Corp's on review for downgrade:

-- B2 corporate family rating

-- B2 senior secured debt rating

-- B3 Senior unsecured bond rating

RATINGS RATIONALE

“Moody's review for downgrade follows the company's very weak Q3
and Q4 profitability, largely due to continued high legal,
regulatory, and servicing expenses. The company lost $185 million
in the second half of 2015, bringing the total to $573 million over
the last two years. As a result, the company's capital levels have
significantly fallen with tangible common equity (TCE) to tangible
assets falling to 11.4% as of year-end 2015 from 14.2% as of June
30, 2015. We expect losses to continue into 2016 as servicing as
well as legal and monitoring costs are expected to remain elevated.
The company's capital levels will continue to decline until the
company is able to curtail losses which will not occur until legal
and regulatory expenses decline significantly.”

In the first half of 2015, the company entered into several
agreements to sell the mortgage servicing rights (MSR) on
approximately $90 billion of Fannie and Freddie loans it serviced.
The proceeds of the MSR sales allowed the company to repay a large
portion of its senior secured term loan with the balance declining
to $397 million as of December 31, 2015 from $933 million as of
June 30, 2015. However, should the firm's losses continue, it would
more than offset the positive benefits of the recent reduction in
financial leverage.

Ocwen's financial profile is also challenged by the more limited
opportunities available in its core market, credit impaired
residential mortgage servicing. The company is currently unable to
acquire new mortgage servicing as part of its agreements with the
New York Department of Financial Services and California Department
of Business Oversight. In addition, the market for new transfers of
credit impaired servicing is quite limited as delinquencies
continue to rapidly decline. As a result, the company seeks to
significantly grow its mortgage origination business as well as
expand into other lending businesses such as the recent entry into
dealer floor plan financing for independent auto dealers.
Diversifying into markets outside of the company's expertise
presents risks to the company's financial profile.

During the review, Moody's will assess 1) the company's near term
profitability and the impact on capital levels, 2) the impact of
its diversification into new businesses, and 3) the possibility and
potential impact of further regulatory and legal actions on Ocwen's
financial strength.

Ocwen's ratings could be downgraded in the event 1) the company
reports or is expected to report losses in excess of $125 million
for the first half of 2016, 2) TCE to tangible assets falls or is
expected to fall below 9.0%, 3) in the event that it is subject to
additional regulatory action resulting in material fines, 4) if the
company is terminated as servicer or as subservicer on a large
percent of loans it services, or 5) the company materially
accelerates its expansion into new business ventures such as its
recent entry into the automobile floor plan lending market.



OUTER HARBOR: Presents $1.18-Mil. Employee Incentive Plan
---------------------------------------------------------
Outer Harbor Terminal, LLC, asks the U.S. Bankruptcy Court for the
District of Delaware to approve an Employee Incentive Program for
substantially all of its non-insider employees.

The Debtor contends that as it continues to implement an orderly
and efficient wind down of its operations, it is crucial that it
maintains the loyalty of its employees and motivate them to exert
all possible efforts to maximize the value of the Debtor's estate
through the wind down process.  It further contends that each of
the EIP Participants has critical skills and institutional
knowledge that are essential to the Debtor's wind down efforts.

The Debtor relates that in order to provide maximum incentive to
the EIP Participants, all compensation associated with the EIP
generally will be based upon the achievement of two separate
benchmarks:

     (i) One-third of the EIP Participants' incentive awards, in
the aggregate amount of $391,791, will be payable if the Debtor
successfully completes on or before March 31, 2016 all marine
operations, including the servicing of vessels and commitments to
the Debtor's customers in accordance with existing contracts.

    (ii) The remaining two-thirds of the EIP Participants'
incentive awards, in the aggregate amount of $784,759, will be
payable upon the Debtor successfully winding down all terminal
operations on or before April 30, 2016.

The Debtor further relates that under the EIP, the maximum
individual award opportunities will range from $2,550 to $96,492
for the EIP Participants, with an average maximum incentive award
opportunity of $26,146.  The Debtor adds that the maximum cost of
incentive award opportunities under the EIP, assuming all EIP
Participants remain eligible and both benchmarks are satisfied,
will be $1,176,551.

The Debtor tells the Court that Awards will be forfeited if an EIP
Participant resigns voluntarily or is involuntarily terminated for
cause.  It further tells the Court that the incentive awards will
be paid to an EIP Participant if such EIP Participant's employment
by the Debtor is terminated involuntarily without cause.  In the
event that an EIP Participant's employment by the Debtor is
terminated without cause and not due to the EIP Participant's
resignation, the Debtor will pay such EIP Participant a one-time
lump sum payment equal to three months of COBRA insurance premiums.
In the event of an EIP Participant's termination of employment,
such EIP Participant will remain eligible to receive pay in lieu of
accrued but unused floating holidays and vacation days that have
not been taken as of the date of termination.

Outer Harbor Terminal is represented by:

          Mark D. Collins, Esq.
          Marisa A. Terranova Fissel, Esq.
          Andrew M. Dean, Esq.
          RICHARDS, LAYTON & FINGER, P.A.
          One Rodney Square
          920 North King Street
          Wilmington, DE 19801
          Telephone: (302)651-7700
          Facsimile: (302)651-7701
          E-mail: collins@rlf.com
                  terranova@rlf.com
                  dean@rlf.com

                 - and -

          Gregory A. Bray, Esq.
          Thomas R. Kreller, Esq.
          Haig M. Maghakian, Esq.
          MILBANK, TWEED, HADLEY & MCCLOY LLP
          601 S. Figueroa Street, 30th Floor
          Los Angeles, CA 90017
          Telephone: (213)892-4000
          Facsimile: (213)629-5063
          E-mail: gbray@milbank.com
                  tkreller@milbank.com
                  hmaghakian@milbank.com

                 - and -

          Dennis F. Dunne, Esq.
          Samuel A. Khalil, Esq.
          MILBANK, TWEED, HADLEY & MCCLOY LLP
          28 Liberty Street
          New York, NY 10005
          Telephone: (212)530-5000
          Facsimile: (212)530-5219
          E-mail: ddunne@milbank.com
                 skhalil@milbank.com

                    About Outer Harbor Terminal

Oakland, California-based port operator Outer Harbor Terminal, LLC
filed for Chapter 11 protection (Bankr. D. Del. Case No. 16-10283)
on Feb. 1, 2016.

The Hon. Laurie Selber Silverstein presides over the case.
Milbank, Tweed, Hadley & Mccloy LLP is the Debtor's general
counsel.  Mark D. Collins, Esq., at Richards, Layton & Finger,
P.A., serves as its Delaware counsel.

The Debtor estimated assets and debts at $100 million to $500
million.  The petition was signed by Heather Stack, chief
financial
officer.


PACIFIC EXPLORATION: Considering Buyout to Avoid Bankruptcy
-----------------------------------------------------------
Anatoly Kurmanaev and Sara Schaefer Munoz, writing for Dow Jones'
Daily Bankruptcy Review, reported that Latin America's largest
independent oil producer, Pacific Exploration & Production Corp.,
is evaluating six buyout offers to avoid bankruptcy, according to
people familiar with the negotiations.

The final offers, which include a management buyout and up to $500
million in loans, are due Wednesday, with the board expected to
make a decision by the end of the week, the four people said,
according to the report.  Share prices of the Bogota,
Colombia-based firm, which is also listed in Toronto, fell more
than 95% in the past two years as lower oil revenues exposed poorly
timed asset purchases, the report noted.

As previously reported by The Troubled Company Reporter, Pacific
Exploration on Feb. 19 disclosed that the Company has reached an
agreement (the "Noteholder Extension Agreement") with certain
holders (the "2019 Noteholders") of its 5.375% senior notes due
2019 (the "2019 Notes") and certain holders (the "2025
Noteholders", and together with the 2019 Noteholders, the
"Noteholders") of its 5.625% senior notes due 2025 (the "2025
Notes", and together with the 2019 Notes, the "Notes") pursuant to
which the Noteholders have agreed, subject to certain terms and
conditions, to forbear from declaring the principal amounts of such
Notes (and certain additional amounts) due and payable (the
"Forbearance") until March 31, 2016 (the "Extension Period").

                    About Pacific Exploration

Pacific Exploration and Production Corp. is a publicly held
Canadian company and a leading explorer and producer of natural
gas and crude oil.

The Troubled Company Reporter-Latin America, on Feb. 23, 2016,
reported that Fitch Ratings says that the agency could downgrade
its ratings on Pacific Exploration and Production Corp. (Pacific;
Long-term Foreign and Local Currency Issuer Default Ratings of 'C')
to restricted default (RD). This could occur after the expiration
of the recently negotiated extension with bondholders of the time
in which to declare principal due and payable on certain notes.
Fitch considers the extension of multiple waivers or forbearance
periods upon a payment default a restricted default given they
represent a material reduction in terms compared with the original
contractual terms. Furthermore, the extension of multiple waivers
can be interpreted as a tool that is being conducted in order to
avoid bankruptcy.

On Jan. 21, 2016, the TCR reported that Moody's Investors Service
has downgraded Pacific Exploration & Production Corp (Pacific
E&P)'s corporate family rating and senior unsecured debt ratings to
C from Caa3.

The TCR, on Jan. 20, 2016, reported that Standard & Poor's Ratings
Services said it lowered its long-term corporate credit and
issue-level ratings on Pacific Exploration and Production Corp
(Pacific) to 'CC' from 'CCC+'.  S&P also removed the rating from
CreditWatch with negative implications. The outlook is negative.

On Jan. 14, 2016, Pacific announced that it has elected to utilize
the 30 day grace period rather than make the interest payments due
on Jan. 19, 2016 and Jan. 26, 2016 of about $65 million.  Although
the company is still current on those obligations, S&P expects
default to be a virtual certainty.


PEABODY ENERGY: Misses Interest Payment, Raises Bankruptcy Spectre
------------------------------------------------------------------
Peabody Energy Corporation said in a regulatory filing on Wednesday
that there is substantial doubt on the Company's ability to
continue as a going concern and, if it fails to address liquidity
needs, it may need to voluntarily seek protection under Chapter 11
of the U.S. Bankruptcy Code.

"We incurred a substantial loss from operations and had negative
cash flows from operating activities for the year ended Dec. 31,
2015," Peabody explained in its Annual Report on Form 10-K for the
fiscal year ended Dec. 31, 2015, filed with the Securities and
Exchange Commission on March 16.

"Our current operating plan indicates that we will continue to
incur losses from operations and generate negative cash flows from
operating activities. These projections and other liquidity risks
raise substantial doubt about whether we will meet our obligations
as they become due within one year after the date of this report."

Peabody said it has elected to exercise the 30-day grace period
with respect to:

      $21.1 million semi-annual interest payment due March 15,
                    2016 on the 6.50% Senior Notes due September
                    2020; and

      $50.0 million semi-annual interest payment due March 15,
                    2016 on the 10.00% Senior Secured Second Lien
                    Notes due March 2022,

as provided for in the indentures governing these notes.

"Failure to pay these interest amounts on March 15, 2016 is not
immediately an event of default under the indentures governing
these notes, but would become an event of default if the payment is
not made within 30 days of such date. As a result of these factors,
as well as the continued uncertainty around global coal
fundamentals, the stagnated economic growth of certain major
coal-importing nations, and the potential for significant
additional regulatory requirements imposed on coal producers, among
other matters, there exists substantial doubt whether we will be
able to continue as a going concern," Peabody said.

Ernst & Young LLP in St. Louis, Missouri, audited the Company's
consolidated balance sheets as of Dec. 31, 2015 and 2014, and the
related consolidated statements of operations, comprehensive
income, changes in stockholders' equity, and cash flows for each of
the three years in the period ended Dec. 31, 2015.  The Firm said
in its March 15, 2016, to the Company's board of directors and
stockholders that the Company's operating plan indicates that it
will continue to incur losses from operations, generate negative
cash flows from operating activities and violate certain debt
covenants during the year ended Dec. 31, 2016.

"These projections and certain liquidity risks raise substantial
doubt about the Company's ability to meet its obligations as they
become due within one year after the date of this report and
continue as a going concern," Ernst & Young said.

Peabody also disclosed that it anticipates that the Company's
reported Adjusted EBITDA and other sources of earnings or
adjustments used to calculate Consolidated EBITDA (if such other
sources of earnings or adjustments do not include the proceeds of
certain targeted asset sales) will fall below the Consolidated Net
Cash Interest Charges during 2016, and it anticipates it will not
comply with the financial covenants as of March 31, 2016.

"Absent waivers or cures, non-compliance with such covenants would
constitute a default under the 2013 Credit Facility," Peabody said.
"As a result, all indebtedness under the 2013 Credit Facility
could be declared immediately due and payable upon the occurrence
of an event of default (after the expiration of any applicable
grace period). It is possible we could obtain waivers from our
lenders; however, the aforementioned projections and certain
liquidity risks raise substantial doubt about whether we will meet
our obligations as they become due within one year after the date
of issuance of this report."

Peabody said, "We are currently exploring alternatives for other
sources of capital for ongoing liquidity needs and transactions to
enhance our ability to comply with the financial covenants under
our 2013 Credit Facility. We are working to improve our operating
performance and our cash, liquidity and financial position. This
includes: pursuing the sale of non-strategic surplus land and coal
reserves as well as existing mines, particularly the sale of our El
Segundo and Lee Ranch coal mines and related assets located in New
Mexico and our Twentymile Mine in Colorado; continuing to drive
cost improvements across the company, attempting to negotiate
alternative payment terms with creditors; maintaining our current
level of self-bonding and/or replacing self-bonding with other
financial instruments on reasonable terms; evaluating potential
debt buybacks, debt exchanges and new financing to improve our
liquidity and reduce our financial obligations; and obtaining
waivers of going concern and financial covenant violations under
the 2013 Credit Facility. We have engaged financial and other
advisors to assist us in those efforts.

"However, there can be no assurance that management's plan to
improve our operating performance and financial position will be
successful or that we will be able to obtain additional financing
on commercially reasonable terms or at all. As a result, our
liquidity and ability to timely pay our obligations when due could
be adversely affected. Furthermore, our creditors may resist
renegotiation or lengthening of payment and other terms through
legal action or otherwise. If we are not able to timely,
successfully or efficiently implement the strategies that we are
pursuing to improve our operating performance and financial
position, obtain alternative sources of capital or otherwise meet
our liquidity needs, we may need to voluntarily seek protection
under Chapter 11 of the U.S. Bankruptcy Code."

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777.3 million in 2014 and the $512.6 million net
loss in 2013.

At Dec. 31, the Company had total assets of $11.021 billion against
$10.102 billion in total liabilities, and stockholders' equity of
$918.5 million.

A copy of the Annual Report is available at http://is.gd/qBPkEq


PICO HOLDINGS: Sean Leder Requests Special Meeting for May 10
-------------------------------------------------------------
By Geoffrey J. Bailey -- gjbaileypb@hotmail.com -- PICO Holdings,
Inc. (Nasdaq:PICO), based in La Jolla, Calif., is a diversified
holding company reporting recurring losses since 2008. PICO owns
57% of UCP, Inc. (NYSE:UCP), 100% of Vidler Water Company, Inc., a
securities portfolio and various interests in small businesses.
PICO has $676 million in assets and $431 million in shareholder
equity. Central Square Management LLC and River Road Asset
Management LLC collectively own more than 14% of PICO and have
agitated for governance and financial changes. Sean Leder owns 1%
of PICO shares and seeks shareholder authorization to call a
Special Meeting to remove and replace five directors. Other
activists at http://ReformPICONow.com/have taken to the Internet
to advance the shareholder cause.

Leder Holdings, LLC announced that it has received written requests
from holders of more than 10% of common stock of PICO to call a
special meeting on May 10, 2016.

At the Special Meeting, Leder Holdings will seek to:

     (1) amend the Company's Bylaws to elect of Directors at
         a Special Meeting of shareholders without prior Board
         authorization;

     (2) remove current Directors Carlos C. Campbell, John R.
         Hart, Michael J. Machado and Kenneth J. Slepicka; and

     (3) to elect the highly-qualified Director nominees
         proposed by Leder Holdings.

"At the Special Meeting we will be calling upon the Company's
long-suffering investors to support our platform that we believe
will reverse the trend of underperformance and lack of management
accountability at the Company," Mr. Leder says.

Leder Holdings will nominate the following four individuals to the
PICO Board of Directors:

     (1) Sean M. Leder is the Chief Executive Officer of Leder
         Holdings, LLC, Chief Executive Officer of The Leder
         Group and President of Leder Realty & Management, Inc.
         He has over 22 years of real estate investment
         experience. For the past year and a half, PICO has been
         Mr. Leder's primary focus. He has applied his real
         estate experience to understanding the supply and demand
         dynamics of the Vidler water business and the UCP
         homebuilding business. Leder Holdings expects that the
         relationships that Mr. Leder has formed and the insights
         that he has gained in the course of his investigations
         of the Company's businesses will drive the Leder
         Holdings platform to restore shareholder value.

     (2) Timothy E. Brog is the President of Locksmith Capital.
         He has extensive management, investment, financial and
         legal experience as the chairman of the board and chief
         executive officer of Peerless Systems Corporation,
         managing director of Locksmith Capital Management LLC,
         president of Pembridge Capital Management LLC and the
         managing director of The Edward Andrews Group Inc. In
         the course of these experiences, Mr. Brog has removed
         and replaced underperforming management, implemented
         cost containment measures and directed operational
         turnarounds. Mr. Brog has experience in turnaround
         situations, reducing excess selling, general and
         administrative expenses, evaluating investment
         opportunities and making value oriented investment
         decisions.

     (3) Alan Dash is a senior vice president of Starwood Energy
         Group, responsible for transaction origination,
         execution and asset management activities, with an
         emphasis on utility-scale renewable energy projects in
         North America. Mr. Dash has been active in the water
         markets throughout his career. As an investment banker,
         he led the advisory and restructuring of the largest
         privately owned water utility in Florida. He has been a
         member of diligence and investment teams regarding water
         and wastewater technology, as well as water recovery.
         Mr. Dash has also performed diligence regarding water
         resources in the western USA due to the nexus of water,
         energy and power production.

     (4) Joel Lusman is the managing member of Lusman Capital
         Management. He served on the board of Maxim Power
         Corporation from March 2012 through June 2014 where he
         was on the audit and risk committee and led the
         strategic review committee. Mr. Lusman has over 17 years
         of portfolio management experience and brings an owner's
         perspective and prior experience to optimizing complex
         resource situations and real estate investments.

The Leder Nominees will take these steps to restore shareholder
value:

      -- Sell PICO's 56.9% interest in UCP;

      -- Monetization of individual Vidler water assets;

      -- Monetize PICO's potpourri of other investments;

      -- Reduce Selling, General and Administrative expenses;

      -- Return value to shareholders through special dividends,
         self-tenders or share repurchase programs;

      -- Utilize the Company's net operating loss carryforwards;

      -- Declassify the Board; and

      -- Remove John Hart, PICO's CEO.

The activist bloggers at www.reformpiconow.com are ecstatic. Mr.
Leder's objectives read like "a PICO shareholder wish list." With a
promise to investigate all nominees, the bloggers are optimistic
for now. They also warn readers that PICO will not sit still. PICO
is expected to launch an extensive and costly public relations
campaign, that will intensify as the Special Meeting date draws
closer.

The bloggers conclude: "March 15, 2016 is a bright day for PICO
shareholders. Good is in the process of defeating evil. For the
first time in over 5 years, the future of PICO looks bright."


PLUG POWER: Incurs $55.7 Million Net Loss in 2015
-------------------------------------------------
Plug Power Inc. filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing a net loss attributable
to the Company of $55.7 million on $103 million of total revenue
for the year ended Dec. 31, 2015, compared to a net loss
attributable to the Company of $88.5 million on $64.2 million of
total revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Plug Power had $209 million in total assets,
$83.6 million in total liabilities, $1.15 million in series C
redeemable convertible preferred stock and $125 million in total
stockholders' equity.

                        Bankruptcy Warning

"Our cash requirements relate primarily to working capital needed
to operate and grow our business, including servicing operating
lease agreements, funding operating expenses, growth in inventory
to support both shipments of new units and servicing the installed
base, funding the growth in our GenKey "turn-key" solution which
also includes the installation of our customer's hydrogen
infrastructure as well as delivery of the hydrogen fuel, and
continued development and expansion of our products.  Our ability
to achieve profitability and meet future liquidity needs and
capital requirements will depend upon numerous factors, including
the timing and quantity of product orders and shipments; attaining
positive gross margins; the timing and amount of our operating
expenses; the timing and costs of working capital needs; the timing
and costs of building a sales base; the ability of our customers to
obtain financing to support commercial transactions; our ability to
obtain financing arrangements to support the sale or leasing of our
products and services to customers and the terms of such agreements
which may require us to pledge or restrict substantial amounts of
our cash to support these financing arrangements; the timing and
costs of developing marketing and distribution channels; the timing
and costs of product service requirements; the timing and costs of
hiring and training product staff; the extent to which our products
gain market acceptance; the timing and costs of product development
and introductions; the extent of our ongoing and new research and
development programs; and changes in our strategy or our planned
activities.  If we are unable to fund our operations with positive
cash flows and cannot obtain external financing, we may not be able
to sustain future operations.  As a result, we may be required to
delay, reduce and/or cease our operations and/or seek bankruptcy
protection."

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

                      http://is.gd/M3Ze3t

                       About Plug Power

Plug Power Inc. is a provider of alternative energy technology
focused on the design, development, commercialization and
manufacture of fuel cell systems for the industrial off-road
(forklift or material handling) market.


PRIMROSE LA SARA: 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 Primrose La Sara, LLC.

Primrose La Sara, LLC, sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Southern
District of Texas (Houston) (Case No. 16-30822) on February 17,
2016. The petition was signed by Miles Klepper, president.

The Debtor is represented by Richard L Fuqua, II, Esq., at Fuqua &
Associates, PC.  The case is assigned to Judge Karen K. Brown.

The Debtor estimated both assets and liabilities in the range of $1
million to $10 million.


RED HILLS: Case Summary & 8 Unsecured Creditors
-----------------------------------------------
Debtor: Red Hills Industrial Park Inc
        PO Box 506
        Bloomsbury, NJ 08804

Case No.: 16-14866

Chapter 11 Petition Date: March 16, 2016

Court: United States Bankruptcy Court
       District of New Jersey (Trenton)

Judge: Hon. Michael B. Kaplan

Debtor's Counsel: Andre L. Kydala, Esq.
                  LAW FIRM OF ANDRE L. KYDALA
                  12 Lower Center Street
                  PO Box 5537
                  Clinton, NJ 08809
                  Tel: (908) 735-2616
                  Fax: (908) 735-0765
                  E-mail: kydalalaw@aim.com

Total Assets: $1.50 million

Total Liabilities: $1.04 million

The petition was signed by Walter Andresen, president.

A list of the Debtor's eight largest unsecured creditors is
available for free at http://bankrupt.com/misc/njb16-14866.pdf


REICHHOLD HOLDINGS: Court OKs Settlement with State of Ohio
-----------------------------------------------------------
The State of Ohio, ex rel. Michael DeWine, Ohio Attorney General,
filed a complaint in the United States District Court for the
Southern District of Ohio against Reichhold Holdings and other
defendants for liability and/or violations pursuant to the
Comprehensive Environmental Response, Compensation and Liability
Act of 1980, as amended, and the common law associated with the
property located at 499 North Broad Street, Bremen, Fairfield
County, Ohio.  The State's commencement and continuation of the
action against Reichhold is exempted from the automatic stay
provision of the U.S. Bankruptcy Code.

The State has alleged in the Complaint that Defendant Reichhold, as
a former owner of the Site, is responsible for the contamination at
and migrating from the Site.

The State filed a Motion for Preliminary Injunction that seeks to
enjoin Defendant Reichhold and the other Defendants named in the
Complaint to implement an Interim Action to address the plume of
ground water contamination that is migrating in ground water
towards the Village of Bremen's public water supply and private
wells.

The State and Defendant Reichhold engaged in settlement
negotiations and have agreed to the terms and conditions of a
Settlement Agreement, approved by the Bankruptcy Court.

In a Consent Decree and Final Judgment dated February 19, 2016,
which is available at http://is.gd/Oyguacfrom Leagle.com, Judge
George C. Smith of the United States District Court for the
Southern District of Ohio, Eastern Division, approved the
Settlement and granted the Motion for Preliminary Injunction.

The case is STATE OF OHIO, ex rel. MICHAEL DeWINE OHIO ATTORNEY
GENERAL Plaintiff, v. SUPERIOR FIBERS, INC., et al., Defendants,
Case No. 2:14-cv-1843 (Bankr. S.D. Ohio).

State of Ohio, ex rel., Michael DeWine, Ohio Attorney General,
Plaintiff, is represented by Timothy James Kern & James Aloysius
Carr, Ohio Attorney General.

Superior Bremen Filtration, LLC, Defendant, is represented by Steve
N Siegel, Esq. -- steve.siegel@dinsmore.com -- Dinsmore & Shohl LLP
& Timothy David Hoffman, Esq. -- timothy.hoffman@dinsmore.com --
Dinsmore & Shohl LLP.

Superior Fibers, LLC, Defendant, is represented by Steve N Siegel,
Dinsmore & Shohl LLP.

                 About Reichhold Holdings

Founded in 1927, Reichhold, with its world headquarters and
technology center in Durham, North Carolina, is one of the world's
largest manufacturer of unsaturated polyester resins and a leading
supplier of coating resins for the industrial, transportation,
building and construction, marine, consumer and graphic arts
markets.  Reichhold -- http://www.Reichhold.com/-- has        
manufacturing operations throughout North America, Latin America,
the Middle East, Europe and Asia.

As of June 30, 2014, the Reichhold companies had consolidated
assets of $538 million and liabilities of $631 million.

Reichhold Holdings US, Inc., Reichhold, Inc., and two U.S.
affiliates sought Chapter 11 protection (Bankr. D. Del. Lead Case
No. 14-12237) on Sept. 30, 2014.

Cole, Schotz, Meisel, Forman & Leonard, P.A. (legal advisor) and
CDG Group LLC (financial advisor) are representing Reichhold, Inc.

Latham & Watkins LLP (legal advisor) and Moelis & Company
(investment banker) are serving Reichhold Industries, Inc.  Logan
&
Company is the company's claims and noticing agent.  The cases are
assigned to Judge Mary F. Walrath.

The U.S. Trustee for Region 3 appointed seven creditors of
Reichhold Holdings US, Inc. to serve on the official committee of
unsecured creditors.

On April 1, 2015, the U.S. Trustee named three non-union retirees
of Debtors to serve as the official Non-Union Retiree Committee.
Each of the Retiree Committee members is receiving retiree welfare
benefits from one or more of the Debtors.

On April 2, 2015, Reichhold disclosed that the purchase of most of
the assets of the U.S. business was completed.  This transaction,
approved by the Delaware Bankruptcy Court on January 12, 2015,
allows Reichhold's U.S. businesses to successfully emerge from
bankruptcy and re-join the rest of the global Reichhold
organization.  Concurrent with this purchase, Reichhold completed
a debt-for-equity exchange with a group of investors led by Black
Diamond Capital Management LLC and including J.P. Morgan
Investment Management, Inc., Third Avenue Management LLC, and
Simplon
Partners LP.


RESIDENTIAL CAPITAL: Objection to McNerney's Claims Sustained
-------------------------------------------------------------
Before the Court is the ResCap Borrower Trust's objection to (i)
claims numbers 4762 and 4764 filed by Patricia McNerney and (ii)
claims numbers 4757 and 4758 filed by Susan Maria Gray, Esq.  The
bases for the Claims are (i) counterclaims filed against the
Debtors Residential Capital LLC, et al in a foreclosure action that
the Debtors initiated against McNerney -- which has since been
dismissed, and (ii) a request for attorney's fees owed to Gray on
account of defending the foreclosure action and prosecuting the
counterclaims. The Objection seeks to disallow and expunge the
Claims on the basis that they fail to state a basis for liability
against the Debtors.

In a Memorandum Opinion and Order dated February 29, 2016, which is
available at http://is.gd/6wkXI5from Leagle.com, Judge Martin
Glenn of the United States Bankruptcy Court for the Southern
District of New York sustained the ResCap Borrower Claims Trust's
objection to Claims nos. 4757, 4758, 4762 and 4764 filed by
Patricia McNerney and Susan Gray and the claims are disallowed and
expunged.

The case is In re: RESIDENTIAL CAPITAL, LLC, et al., Chapter 11,
Debtors,Case No. 12-12020 (MG), (Jointly Administered)(Bankr.
S.D.N.Y.).

Residential Capital, LLC is represented by:

          Donald H. Cram, Esq.
          SEVERSON & WERSON, PC
          One Embarcadero Center Suite 2600
          San Francisco, CA 94111
          Tel: (415) 398-3344
          Fax: (415) 956-0439
          Email: dhc@severson.com

            -- and --

          Stefan W. Engelhardt, Esq.
          Todd M. Goren, Esq.
          Joel C Haims, Esq.
          Gary S. Lee, Esq.
          Lorenzo Marinuzzi, Esq.
          Larren M. Nashelsky, Esq.
          Anthony Princi, Esq.
          Norman Scott Rosenbaum, Esq.
          Kayvan B. Sadeghi, Esq.
          MORRISON & FOERSTER LLP
          250 West 55th Street
          New York, NY 10019-9601
          Tel: (212) 468-8000
          Fax: (212) 468-7900
          Email: tgoren@mofo.com
                 jhaims@mofo.com
                 glee@mofo.com
                 lmarinuzzi@mofo.com
                 lnashelsky@mofo.com
                 nrosenbaum@mofo.com
                 ksadeghi@mofo.com

            -- and --

          Steven J. Reisman, Esq.
          CURTIS, MALLET-PREVOST, COLT & MOSLE LLP
          101 Park Avenue
          New York, NY 10178-0061
          Tel: (212) 696-6000
          Fax: (212) 697-1559
          Email: sreisman@curtis.com

            -- and --

          John W Smith T, Esq.
          BRADLEY ARANT BOULT CUMMINGS LLP
          One Federal Place
          1819 Fifth Avenue North
          Birmingham, AL 35203
          Tel: (205) 521-8000
          Fax: (205) 521-8800
          Email: jsmitht@babc.com

Official Committee of Unsecured Creditors is represented by:

          Kenneth H. Eckstein, Esq.
          Douglas Mannal, Esq.
          Steven S. Sparling, Esq.
          KRAMER LEVIN NAFTALIS & FRANKEL LLP
          1177 Avenue of the Americas
          New York, NY 10036
          Tel: (212) 715-9100
          Fax: (212) 715-8000
          Email: keckstein@kramerlevin.com
                 dmannal@kramerlevin.com
                 ssparling@kramerlevin.com

            -- and --

          Robert J. Feinstein, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          780 Third Avenue 34th Floor
          New York, NY 10017-2024
          Tel: (212) 561-7700
          Fax: (212) 561-7777
          Email: rfeinstein@pszjlaw.com

            -- and --

          Ronald J. Friedman, Esq.
          Robert D. Nosek, Esq.
          SILVERMAN ACAMPORA LLP
          100 Jericho Quadrangle, Suite 300
          Jericho, NY 11753
          Tel: (516) 479-6300
          Fax: (516) 479-6301
          Email: rfriedman@silvermanacampora.com

Official Committee of Unsecured Creditors of Residential Capital,
LLC, et al. is represented by:

          Stephen Zide, Esq.
          KRAMER LEVIN NAFTALIS & FRANKEL LLP
          1177 Avenue of the Americas
          New York, NY 10036
          Tel: (212) 715-9100
          Fax: (212) 715-8000
          Email: szide@kramerlevin.com

                  About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012. Neither Ally
Financial nor Ally Bank is included in the bankruptcy filings.

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

ResCap disclosed $15.7 billion in assets and $15.3 billion in
liabilities at March 31, 2012.

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

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

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

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


RUSSELL-GRADY: 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 Russell-Grady LLC.

Russell-Grady LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 16-00384) on February 3,
2016. The Debtor is represented by Taylor J King, Esq., at the Law
Offices of Mickler & Mickler.


SEANERGY MARITIME: Reports $8.9 Million Net Loss for 2015
---------------------------------------------------------
Seanergy Maritime Holdings Corp. reported a net loss of $5.85
million on $6.82 million of net vessel revenue for the three months
ended Dec. 31, 2015, compared to a net loss of $1.25 million on $0
of net vessel revenue for the same period in 2014.

For the year ended Dec. 31, 2015, the Company reported a net loss
of $8.95 million on $11.22 million of net vessel revenue compared
to net income of $80.34 million on $2.01 million of net vessel
revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Seanergy had $209.35 million in total assets,
$186.06 million in total liabilities and $23.28 million in
stockholders' equity.

Stamatis Tsantanis, the Company's chairman & chief executive
officer, stated:

"I am pleased to announce that in the fourth quarter of 2015, we
successfully completed the $185 million fleet acquisition that we
signed in August of 2015.  As a result, our fleet now consists of 6
Capesize and 2 Supramax vessels.  In 2015, our cargo carrying
capacity grew from zero to more than 1.1 million DWT."

"Seanergy's acquisition cost, which is among the lowest of our
peers, coupled with our advantageous financing arrangements should
provide significant upside potential for our investors.  Looking
forward, we firmly believe that current market conditions represent
a unique opportunity to acquire quality tonnage at 30-year
historical low prices.  For that reason, we intend to pursue
acquisition opportunities that we believe can further enhance value
for our shareholders.  We believe that Seanergy is the right
platform in dry bulk listed space for further fleet expansion in
order to capitalize on the recovery of the freight market and asset
values."

Ernst & Young (Hellas) Certified Auditors-Accountants S.A., in
Athens, Greece, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2015,
citing that the Company reports a working capital deficit and
estimates that it may not be able to generate sufficient cash flow
to meet its obligations and sustain its continuing operations for a
reasonable period of time, that in turn raise substantial doubt
about the Company's ability to continue as a going concern.

           Amendments to Convertible Promissory Note

On Jan. 27, 2016, and on March 7, 2016, the Company entered into a
third and fourth amendment to the issued unsecured revolving
convertible promissory note of Sept. 7, 2015, as amended on
Dec. 1, 2015, and Dec. 14, 2015.  These amendments have increased
the amount of the note to approximately $16.3 million (the
"Applicable Limit") and have further modified the amount by which
the Applicable Limit is reduced to $2.5 million on Sept. 10, 2017,
and each year on the anniversary of that date.  As of March 15,
2016, the Company has drawn down the entire amount available under
the note.

             Reverse Stock Split and Nasdaq Compliance

On Jan. 8, 2016, a 1-for-5 reverse split of the Company's common
stock became effective and the common stock began trading on a
split-adjusted basis on the NASDAQ Capital Market.

This reduced the number of outstanding shares of the Company's
common stock from 97,612,971 shares to approximately 19,522,413
shares, after adjusting for fractional shares.  On Jan. 27, 2016,
the Company received a letter from Nasdaq confirming that it had
regained compliance with Nasdaq's minimum bid price requirement.

A full-text copy of the Form 6-K report is available for free at:

                     http://is.gd/YGoKfu

                        About Seanergy

Athens, Greece-based Seanergy Maritime Holdings Corp. is an
international company providing worldwide seaborne transportation
of dry bulk commodities.  The Company owns and operates a fleet
of seven dry bulk vessels that consists of three Handysize, two
Supramax and two Panamax vessels.  Its fleet carries a variety of
dry bulk commodities, including coal, iron ore, and grains, as
well as bauxite, phosphate, fertilizer and steel products.


SFX ENTERTAINMENT: Delays Annual Report; Projects Higher Revenues
-----------------------------------------------------------------
SFX Entertainment, Inc. has determined that it is unable to file
its Annual Report on Form 10-K for the fiscal period ended December
31, 2015, within the prescribed time period without unreasonable
effort or expense.

Richard Rosenstein, SFX Chief Financial Officer, said that in the
months leading up to and since the filing of the Chapter 11 Cases,
the Company has been primarily engaged in addressing
bankruptcy-related matters, negotiating with creditors, and
reformulating its business strategy in an effort to emerge from
bankruptcy. As a result of the increased burdens on the Company's
management, financial, accounting and administrative staff, the
Company's normal closing process for the period ended December 31,
2015 has been disrupted, including its independent auditor's review
and audit procedure. As a result, the Company has been delayed in
its preparation of financial statements and other documentation
relating to the 2015 Form 10-K, and it does not expect to be in a
position to complete and file the 2015 Form 10-K within the
extension period provided by Rule 12b-25(b). At this time, the
Company has determined it will not resume filing periodic reports
while in bankruptcy with the Securities and Exchange Commission in
accordance with the Securities Exchange Act of 1934, as amended.

The Company intends to furnish its monthly operating reports
required in the Chapter 11 Cases on Form 8-K while in bankruptcy.
The first MOR is due by April 14, 2016.

The Company cautions that trading in its securities during the
pendency of the Chapter 11 Cases is highly speculative and poses
substantial risks, and that if the restructuring plan currently
proposed by the Company in the Chapter 11 Cases is consummated, the
Company's common stock will be extinguished and the holders of the
common stock will not receive any consideration.

Mr. Rosenstein said the Company is reviewing the feasibility of
completing its consolidated financial statements in the context of
the Company's bankruptcy filing. Revenue is expected to increase
for the year ended December 31, 2015 compared to the year ended
December 31, 2014.

"Growth in revenue was primarily due to the increased number of
large festivals that we offered around the world and increased
total number of attendees at such festivals and other events," he
said.  "In May 2015 and June 2015, we debuted the Tomorrowland
Brazil and Bestival festivals, respectively. In addition, the
inclusion of revenue from our Awakenings festival in the current
year as a result of our September 2014 acquisition of Monumental
Productions and incremental revenue associated with a full three
day Electric Zoo, New York City festival in the current year have
attributed to increased revenue."

"The expected increase in revenue will be offset by a decrease
related to lost revenue for festival cancellations and partial
cancellations during the year (which we anticipate will be
partially recovered from insurance proceeds) and a reduction in the
volume of digital music downloads.

"We expect that gross margin will decrease from the year ended
December 31, 2015 compared to the year ended December 31, 2014,
primarily attributable to incremental production and artist costs
for festivals that we debuted in the current year and the inclusion
of the Awakenings festival production costs in the current year. In
addition, the decrease is also due to increased festival production
costs and artist fees for festivals that the company produced in
both periods.

"Operating expenses are expected to decrease for the year ended
December 31, 2015 compared to the year ended December 31, 2014.
This decrease is primarily attributable to decreases in non-cash
stock-based compensation, marketing charges and professional fees.
The decreases are partially offset by increases in legal fees,
general administrative and office expenses.

"Interest expense is expected to increase for the year ended
December 31, 2015 compared to December 31, 2014, primarily as a
result of the 9.625% notes issued in February 2014 and September
2014 and our revolving credit facility."

                      About SFX Entertainment

Headquartered in New York, New York, SFX Entertainment, with
approximately $312 million in pro-forma revenues, is a producer of
live events and media and entertainment content focused
exclusively
on electronic music culture.

SFX Entertainment, Inc., and 43 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10238 to
16-10281) on Feb. 1, 2016.  The petitions were signed by Michael
Katzenstein as chief restructuring officer.

The Debtors disclosed total assets of $661.6 million and total
debts of $490.2 million.

Greenberg Traurig, LLP serves as the Debtors' counsel.   Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.  

Judge Mary F. Walrath is assigned to the case.


SFX ENTERTAINMENT: Taps Kaye Scholer as Special Committee Counsel
-----------------------------------------------------------------
SFX Entertainment, Inc., et al., ask the U.S. Bankruptcy Court for
the District of Delaware for permission to employ Kaye Scholer LLP
as counsel for the special committee of independent directors of
SFX Entertainment, Inc., nunc pro tunc to the Petition Date.

Kaye Scholer will:

   a. advise the Special Committee with respect to the financial
restructuring of the business, assets, liabilities, and interests
of the Company and its subsidiaries after the filing of the cases,
including but not limited to operational issues and implementation
of the transactions contemplated by and other terms and conditions
of restructuring support agreement including the power and
authority to determine whether to enter into any transaction in
furtherance of the so-called "fiduciary out" included in the
Restructuring Support Agreement and to negotiate and enter into any
such transaction;

   b. appear and represent the Special Committee before the Court,
any appellate courts, and in their dealings with the Office of the
United States Trustee; and

   c. provide other legal services and advice to the special
committee as may become necessary in connection with the cases.

As of the Petition Date, Kaye Scholer's hourly rates are:

         Billing Category                         Range
         ----------------                         -----
         Partners                              $745 - $1,350
         Counsel                               $690 - $800
         Associates                            $395 - $770
         Legal Assistants                      $185 - $335

The primary attorneys working on the case and their corresponding
hourly rates are:

         Vincent Sama                             $1,350
         Derek Stoldt                               $925
         Benjamin Mintz                             $950
         Negisa Balluku                             $625

Kaye Scholer is customarily reimbursed for all non-overhead
expenses it incurs on a client's behalf during a matter.

Kaye Scholer has disclosed that it currently serves as counsel for
defendants John Miller, Michael Meyer and Geoffrey Armstrong, as
directors of the Company, in a federal securities class action
pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act
of 1934 and Securities and Exchange Commission Rule 10b-5
promulgated thereunder on behalf of all investors who purchased or
otherwise acquired the common stock of the Company between
Feb. 25, 2015 and Nov. 17, 2015.  

From December 2014 through February 2015, Kaye Scholer also served
as counsel for the members of a special committee of the board of
directors of Viggle Inc., a company whose chief executive officer
and controlling officer is Robert F.X. Sillerman, in connection
with a shared services agreement between Viggle, Inc. and the
Company with respect to certain employees of the Company and
Viggle, Inc.  For the purposes of the Viggle Transaction, the
independent directors of the Company were represented by different
counsel.  Kaye Scholer is not currently representing Viggle, Inc.'s
special committee in the Viggle Transaction.  Kaye Scholer also
previously represented one or more Viggle special committees in
connection with matters unrelated to the Debtors.

To the best of the Debtors' knowledge, Kaye Scholer does not hold
or represent any interest adverse to the estates.

                      About SFX Entertainment

Headquartered in New York, New York, SFX Entertainment, with
approximately $312 million in pro-forma revenues, is a producer of
live events and media and entertainment content focused
exclusively on electronic music culture.

SFX Entertainment, Inc., and 43 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10238 to
16-10281) on Feb. 1, 2016.  The petitions were signed by Michael
Katzenstein, the chief restructuring officer.

The Debtors disclosed total assets of $661.6 million and total
debts of $490.2 million.

Greenberg Traurig, LLP serves as the Debtors' counsel.   Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.  

Judge Mary F. Walrath is assigned to the case.


SHERWIN ALUMINA: Committee Can Hire Andrews Kurth as Counsel
------------------------------------------------------------
Bankruptcy Judge David R. Jones in Corpus Christi, Texas,
authorized the Official Committee of Unsecured Creditors of Sherwin
Alumina Company, LLC and its affiliated debtors, to retain Andrews
Kurth LLP as counsel.

The Committee believes that (i) the firm has the necessary
expertise and background to address effectively the legal issues
that may arise in the context of these chapter 11 cases and (ii)
the firm's retention is necessary to enable the Committee to
execute faithfully its responsibilities and duties under the
Bankruptcy Code.

On January 21, 2016, the Office of the United States Trustee
appointed the Committee.  The Committee consists of: (i) CCC Group,
Inc.; (ii) Cegertec Worley Parsons, Inc.; (iii) Host Terminals,
Inc.; (iv) Occidental Chemical Corporation; and (v) GHX Industrial,
LLC.  On the Retention Date, after interviewing several law firms,
the Committee selected Andrews Kurth.

Andrews Kurth's hourly rates for the attorneys range from $360 to
$895 and the hourly rates of paralegals presently expected to work
on this matter range from $100 to $250.  

The firm's Robin Russell attests that Andrews Kurth does not, and
will not, represent any entity having an adverse interest to the
Committee and
is in all respects eligible and qualified to act as counsel to the
Committee in these cases.   

The firm may be reached at:

     Robin Russell
     Managing Partner
     Andrews Kurth
     600 Travis St # 4200
     Houston, TX 77002
     E-mail: rrussell@andrewskurth.com

                     About Sherwin Alumina

Sherwin Alumina Company, LLC and Sherwin Pipeline, Inc. filed
Chapter 11 bankruptcy petitions (Bankr. S.D. Tex. Case Nos.
16-20012 and 16-20013, respectively) on Jan. 11, 2016.  Thomas
Russell signed the petitions as authorized signatory.  Judge David
R Jones has been assigned the case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Zack A. Clement PLLC as local counsel, Huron Consulting Services
LLC as financial advisor and Kurtzman Carson Consultants LLC as
claims, notice and balloting agent.

Sherwin operates an alumina plant in Gregory, Texas that produces
aluminum oxide (or alumina), which is the primary component of
aluminum, from bauxite.  Sherwin produces alumina through the
"Bayer Process," a refining technique that produces alumina from
bauxite ore by dissolving the bauxite in a caustic solution.

The Debtors, on Feb. 5, 2016, the disclosed total assets of
$254,617,187 and total liabilities of $218,177,760.

The U.S. Trustee appointed five members to the Official Committee
of Unsecured Creditors.  Robin Russell, Esq., Timothy S. McConn,
Esq., and Ashley Gargour, Esq., at Andrews Kurth LLP, in Houston,
Texas, represent the Committee.


SHERWIN ALUMINA: Huron Consulting Approved as Financial Advisor
---------------------------------------------------------------
Bankruptcy Judge David R. Jones in Corpus Christi, Texas,
authorized Sherwin Alumina Company, LLC, and Sherwin Pipeline, Inc.
to employ Huron Consulting Services LLC as their financial
advisor.

In October 2015, Debtor Sherwin Alumina Company, LLC appointed
restructuring professional Alan J. Carr as independent manager to
assess possible restructuring alternatives.  The Debtors
subsequently identified approximately three highly-qualified
financial advisory firms (including Huron) to provide financial and
capital advisory services to the Debtors.  The Debtors and Mr. Carr
subsequently conducted telephonic interviews with each firm and,
following a careful assessment of each firm's qualifications and
proposed fee structure, selected Huron to act as the Debtors'
financial advisor in connection with these chapter 11 cases.   

Huron will assist the Debtors in the implementation of certain
critical task plans to facilitate a successful outcome in these
chapter 11 cases; assist management, as requested, in addressing
information requests from various parties related to these chapter
11 cases, including the official committee of unsecured creditors,
employee and/or union representatives, and other parties in
interest; provide capital advisory services, among others, to the
Debtors in connection with their efforts to secure
debtor-in-possession financing.  Huron will assist the Debtors in
evaluating, marketing, and consummating a sale transaction.  The
firm will also assist the Debtors with structuring, negotiating,
and monitoring the Debtors' compliance and reporting obligations
under the DIP Facility.

Huron will be paid by the Debtors at its current hourly rate
schedule, which is as follows:

     Billing Category       Range
     ----------------       -----
     Managing Directors      $750
     Senior Directors and
       Directors             $575
     Managers                $450
     Associates              $375

Pursuant to the Engagement Letter, the Debtors were required to pay
Huron a retainer of $200,000 upon the execution of this Engagement
Letter.  The retainer will be applied  to  Huron's  final  invoice
to  the  Debtors  at  the  conclusion  of  the  engagement
(including  upon termination of the Engagement Letter in accordance
with the terms hereof), and any remaining balance will be refunded
to the Debtors at that time.  

Huron will not be paid a Success Fee.

James M. Lukenda, CIRA, Managing Director of Huron Consulting
Services LLC, discloses that prior to the Petition Date, according
to the Debtors' books and records, the Debtors paid Huron
$647,291.48 for fees and $26,972.95 for reimbursement of expenses
during the 90-day period before the Petition Date. The prior
amounts disclosed did not include two of Huron's seven invoices and
the final accounting between fees and expenses for the period prior
to the bankruptcy filing. All amounts have now been reconciled. As
previously disclosed, as of the Petition Date $121,535.00 of the
retainer remained outstanding and the Debtors do not owe Huron any
fees for services performed or expenses incurred under the
Engagement Letter for the prepetition period.

Huron intends to apply for compensation for professional services
rendered and
reimbursement of expenses incurred in connection with these chapter
11 cases, subject to the Court's approval and in compliance with
applicable provisions of the Bankruptcy Code, the Bankruptcy Rules,
the Bankruptcy Local Rules, the Guidelines for Reviewing
Applications for Compensation filed under 11 U.S.C. Sec. 330, and
any other applicable procedures and orders of the Court, including
any order approving the Application (to  the extent compliance is
not waived) and consistent with the proposed compensation set forth
in
the Engagement Letter.

Mr. Lukenda attests that Huron:  (a) is a "disinterested person"
within the meaning of section 101(14) of the Bankruptcy Code; (b)
does not hold or represent an interest materially adverse to the
Debtors' estates; and (c) has no connection to the Debtors, their
creditors, the employees of the Office of the United States
Trustee, or other related parties.

The firm may be reached at:

     James M. Lukenda, CIRA
     Managing Director
     Huron Consulting Services LLC
     550 West Van Buren Street
     Chicago, IL 60607

                     About Sherwin Alumina

Sherwin Alumina Company, LLC and Sherwin Pipeline, Inc. filed
Chapter 11 bankruptcy petitions (Bankr. S.D. Tex. Case Nos.
16-20012 and 16-20013, respectively) on Jan. 11, 2016.  Thomas
Russell signed the petitions as authorized signatory.  Judge David
R Jones has been assigned the case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Zack A. Clement PLLC as local counsel, Huron Consulting Services
LLC as financial advisor and Kurtzman Carson Consultants LLC as
claims, notice and balloting agent.

Sherwin operates an alumina plant in Gregory, Texas that produces
aluminum oxide (or alumina), which is the primary component of
aluminum, from bauxite.  Sherwin produces alumina through the
"Bayer Process," a refining technique that produces alumina from
bauxite ore by dissolving the bauxite in a caustic solution.

The Debtors, on Feb. 5, 2016, the disclosed total assets of
$254,617,187 and total liabilities of $218,177,760.

The U.S. Trustee appointed five members to the Official Committee
of Unsecured Creditors.  Robin Russell, Esq., Timothy S. McConn,
Esq., and Ashley Gargour, Esq., at Andrews Kurth LLP, in Houston,
Texas, represent the Committee.


SHERWIN ALUMINA: Kirkland & Ellis Okayed as Bankr. Counsel
----------------------------------------------------------
Sherwin Alumina Company, LLC, and Sherwin Pipeline, Inc. sought and
obtained authority from the Bankruptcy Court in Corpus Christi,
Texas, to employ Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as their
attorneys effective nunc pro tunc to the Petition Date.

Kirkland represented the Debtors during the three-month period
before the
Petition Date.

Among other things, the Debtors need Kirkland to represent them in
connection with obtaining authority to continue using cash
collateral and postpetition financing; and in connection with any
potential sale of assets.  The firm will also appear before the
Bankruptcy Court and any appellate courts to represent the
interests of the Debtors' estates, as well as provide advise
regarding tax matters.  Kirkland is also expected to take any
necessary action on behalf of the Debtors to negotiate, prepare,
and obtain approval of a disclosure statement and confirmation of a
chapter 11 plan and all documents related thereto.

Kirkland's current hourly rates for matters related to these
chapter 11 cases range as follows:

     Billing Category        U.S. Range
     ----------------        ----------
     Partners                $875-$1,445
     Of Counsel              $480-$1,445
     Associates              $510-  $945
     Paraprofessionals       $180-  $400

Joshua A. Sussberg, the president of Joshua A. Sussberg, P.C., a
partner of Kirkland & Ellis LLP, and a partner of Kirkland & Ellis
International LLP, relates that like many of its peer law firms,
Kirkland typically increases the hourly billing rate of attorneys
and paraprofessionals twice a year in the form of: (i) step
increases historically awarded in the ordinary course on the basis
of advancing seniority and promotion and (ii) periodic increases
within each attorney's and paraprofessional's current level of
seniority.  The step increases do not constitute "rate increases"
(as the term is used in the Guidelines for Reviewing Applications
for Compensation and Reimbursement of Expenses Filed Under 11
U.S.C. Sec. 330 by Attorneys in Larger Chapter 11 Cases, effective
November 1, 2013).  The proposed order provides that Kirkland will
provide 10 business-days' notice to the Debtors, the U.S. Trustee,
and any official committee before implementing any periodic
increases, and shall file any such notice with the Court.   

Mr. Sussberg discloses that per the terms of the Engagement Letter,
on November 5, 2015, the Debtors paid $250,000 to Kirkland, which,
as stated in the Engagement Letter, constituted an "advance payment
retainer" as defined in Rule 1.15(c) of the Illinois Rules of
Professional Conduct, Dowling v. Chicago Options Assoc., Inc., 875
N.E.2d 1012, 1018 (Ill. 2007).  

Subsequently, the Debtors paid to Kirkland additional advance
payment retainers totaling $2,518,998.17 in the aggregate.  As
stated in the Engagement Letter, any advance payment retainers are
earned by Kirkland upon receipt, any advance payment retainers
become the property of Kirkland upon receipt, the Debtors no longer
have a property interest in any advance payment retainers upon
Kirkland's receipt, any advance payment retainers will be placed in
Kirkland's general account and will not be held in a client trust
account, and the Debtors will not earn any interest on any advance
payment retainers.  

As of the Petition Date, the Debtors did not owe Kirkland any
amounts for legal services rendered before the Petition Date.
Although certain expenses and fees may have been incurred, but not
yet applied to Kirkland's advance payment retainers, Kirkland's
total advance payment retainers always exceeded any amounts listed
or to be listed on statements describing services rendered and
expenses incurred before the Petition Date.

Mr. Sussberg attests that Kirkland is a "disinterested person"
within the meaning of section 101(14) of the Bankruptcy Code, as
required by section 327(a) of the Bankruptcy Code, and does not
hold or represent an interest adverse to the Debtors' estates and
Kirkland has no connection to the Debtors, their creditors, or
other parties in interest.

                     About Sherwin Alumina

Sherwin Alumina Company, LLC and Sherwin Pipeline, Inc. filed
Chapter 11 bankruptcy petitions (Bankr. S.D. Tex. Case Nos.
16-20012 and 16-20013, respectively) on Jan. 11, 2016.  Thomas
Russell signed the petitions as authorized signatory.  Judge David
R Jones has been assigned the case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Zack A. Clement PLLC as local counsel, Huron Consulting Services
LLC as financial advisor and Kurtzman Carson Consultants LLC as
claims, notice and balloting agent.

Sherwin operates an alumina plant in Gregory, Texas that produces
aluminum oxide (or alumina), which is the primary component of
aluminum, from bauxite.  Sherwin produces alumina through the
"Bayer Process," a refining technique that produces alumina from
bauxite ore by dissolving the bauxite in a caustic solution.

The Debtors, on Feb. 5, 2016, the disclosed total assets of
$254,617,187 and total liabilities of $218,177,760.

The U.S. Trustee appointed five members to the Official Committee
of Unsecured Creditors.  Robin Russell, Esq., Timothy S. McConn,
Esq., and Ashley Gargour, Esq., at Andrews Kurth LLP, in Houston,
Texas, represent the Committee.


SHERWIN ALUMINA: Zack A. Clement Okayed as Local Counsel
--------------------------------------------------------
Sherwin Alumina Company, LLC, and Sherwin Pipeline, Inc. sought and
obtained authority from the Bankruptcy Court in Corpus Christi,
Texas, to employ Zack A. Clement PLLC as their local counsel to
assist their primary restructuring counsel, Kirkland & Ellis LLP,
in connection with the prosecution of these chapter 11 cases.

The Firm's current hourly rates for Zack A. Clement for matters
related to these chapter 11 cases is $600 per hour.

The Firm represented the Debtors during the one-month period before
the Petition Date.  

Per the terms of the Engagement Letter, on January 5, 2016, the
Debtors paid $25,000 to the Firm, which, as stated in the
Engagement Letter, constituted a retainer for anticipated fees.  As
of the Petition Date, the Debtors did not owe the Firm any amounts
for legal services rendered before the Petition Date.

Zack A. Clement, the president of Zack A. Clement PLLC, attests
that (a) the Firm is a "disinterested person" within the meaning of
section 101(14) of the Bankruptcy Code, as required by section
327(a) of the Bankruptcy Code, and does not hold or represent an
interest adverse to the Debtors' estates and (b) the Firm has no
connection to the Debtors, their creditors, or other parties in
interest.

                     About Sherwin Alumina

Sherwin Alumina Company, LLC and Sherwin Pipeline, Inc. filed
Chapter 11 bankruptcy petitions (Bankr. S.D. Tex. Case Nos.
16-20012 and 16-20013, respectively) on Jan. 11, 2016.  Thomas
Russell signed the petitions as authorized signatory.  Judge David
R Jones has been assigned the case.

The Debtors have engaged Kirkland & Ellis LLP as general counsel,
Zack A. Clement PLLC as local counsel, Huron Consulting Services
LLC as financial advisor and Kurtzman Carson Consultants LLC as
claims, notice and balloting agent.

Sherwin operates an alumina plant in Gregory, Texas that produces
aluminum oxide (or alumina), which is the primary component of
aluminum, from bauxite.  Sherwin produces alumina through the
"Bayer Process," a refining technique that produces alumina from
bauxite ore by dissolving the bauxite in a caustic solution.

The Debtors, on Feb. 5, 2016, the disclosed total assets of
$254,617,187 and total liabilities of $218,177,760.

The U.S. Trustee appointed five members to the Official Committee
of Unsecured Creditors.  Robin Russell, Esq., Timothy S. McConn,
Esq., and Ashley Gargour, Esq., at Andrews Kurth LLP, in Houston,
Texas, represent the Committee.


SPI ENERGY: Head & Shoulders Holds 2.9% of Ordinary Shares
----------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Head & Shoulders Global Investment Limited reported
that as of March 11, 2016, it beneficially owns 18,750,000 ordinary
shares, represented by ADSs, of SPI Energy Co., Ltd. representing
2.9 based upon 641,665,172 ordinary shares issued and outstanding
as of Feb. 15, 2016.

On March 8, 2016, Head & Shoulders entered into a share purchase
agreement with Ms. Zhou Shan.  Pursuant to the SPA, the Reporting
Person sells to Ms. Zhou Shan 8,750,000 ADSs at a purchase price of
US$7.64 per ADS, the closing price of the ADSs on Nasdaq on Feb.
16, 2016.

It is currently anticipated that, at the Per Share Purchase Price,
Ms. Zhou Shan will pay US$66,850,000 to the Reporting Person for
the acquisition of ADSs.  Under the SPA, Ms. Zhou Shan will pay to
the Reporting Person a sum of US$14,000,000 upon closing with
personal funds, with the balance of the Aggregate Purchase Price,
being US$52,850,000, to be repaid within a period of four years
from the date of the SPA, with an interest of 4% per annum for the
balance repaid in the second two years.

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

                       http://is.gd/ANp78n

                    About SPI Energy Co., Ltd.

SPI Energy Co., Ltd., (As successor in interest to Solar Power,
Inc.), is a global provider of photovoltaic (PV) solutions for
business, residential, government and utility customers and
investors.  SPI Energy focuses on the downstream PV market
including the development, financing, installation, operation and
sale of utility-scale and residential solar power projects in
China, Japan, Europe and North America.  The Company operates an
innovative online energy e-commerce and investment platform,
http://www.solarbao.com/,which enables individual and
institutional
investors to purchase innovative PV-based investment and other
products; as well as http://www.solartao.com/, a B2B e-commerce
platform
offering a range of PV products for both upstream and downstream
suppliers and customers.  The Company has its operating
headquarters in Shanghai and maintains global operations in Asia,
Europe, North America and Australia.

Solar Power reported a net loss of $5.19 million in 2014, a net
loss of $32.2 million in 2013 and a net loss of $25.4 million in
2012.  As of Sept. 30, 2015, the Company had $727 million in total
assets, $431 million in total liabilities and $296 million in total
equity.


SPORTS AUTHORITY: March 29 Hearing on Sale Timeline, Procedures
---------------------------------------------------------------
Sports Authority Holdings, Inc., at a hearing on March 29, at 1:00
p.m. will ask for approval from the U.S. Bankruptcy Court for the
District of Delaware of bidding procedures for the sale of
substantially all of its assets.

The deadline for the filing of objections to the bidding procedures
was March 17.

To restructure their operations, the Debtors will run a dual-track
process.  The Debtors have initiated and will run an expedited sale
process.  At the same time, the Debtors will negotiate with their
creditors regarding a plan of reorganization.

Thus, the Debtors and Rothschild have solicited interest in a
potential acquisition.  Certain potential buyers have already
signed non-disclosure agreements and begun due diligence in
consideration of a potential acquisition of a material portion of
the Debtors' business operations.  In addition, an electronic data
room has been made available for potential bona fide bidders
subject to their entry into non-disclosure agreements.  Despite the
strong interest, given the short time frame the Debtors have had to
market their assets to date, no party has yet submitted a final
proposal for a sale transaction and the Debtors have not yet agreed
to the terms of a chapter 11 plan.


The Debtors have secured $595 million financing to fund their
Chapter 11 case but the lenders have required the Debtors to comply
with various case milestones.  The lenders have required, among,
other things, an April 21 deadline for bids, an April 25 auction,
and an April 28 deadline to close the sale.

Consistent with the timeline of the Chapter 11 cases, the Debtors
propose:

   * Stalking Horse Bid Deadline.  April 10, 2016 at 5:00 p.m.
prevailing Eastern Time, will be the deadline by which all Stalking
Horse Bids must be actually received by the Debtors;

   * Sale, Cure Cost/Assignment Objection Deadline.  April 19, 2016
at 4:00 p.m. prevailing Eastern Time, will the deadline to object
to the Sale transactions (the "Sale Objection Deadline") and/or the
assumption and assignment of Assumed Contracts and Assumed Leases
or cure amounts related thereto, other than objections related to
the specific identity of the Successful Bidder(s).

   * Bid Deadline: April 20, 2016 at 5:00 p.m. prevailing Eastern
Time, will be the deadline by which all binding bids must be
actually received;

   * Auction: An auction will be held April 24, 2016 at 9:00 a.m.
prevailing Eastern Time, if more than one competing Qualified Bid
is received with respect to any of the Assets, which will be held
at the offices of Gibson, Dunn & Crutcher, 200 Park Ave., New York,
New York, 10166;

   * Post-Auction Objection Deadline: April 25, 2016 at 4:00 p.m.
prevailing Eastern Time, will be the deadline to object only to (i)
the conduct at the Auction (if held) or (ii) solely with respect to
the Non-Debtor Counterparties to the Contracts, to the specific
identity of and adequate assurance of future performance provided
by the Successful Bidders with respect to the applicable Assumed
Contract or Assumed Lease; and

  * Sale Hearing: April 26, 2016, will be the date of the sale
hearing (the "Sale Hearing") to be held before the Court, if any
Qualified Bids are received by the Debtors.

The Bid Procedures contemplate that the Debtors will, prior to the
Stalking Horse Bid Deadline, continue to solicit "stalking horse"
bids, which bid or bids will be binding on such bidder and will set
the floor for all Qualified Bids for applicable Assets at the
Auction. In the event that any Stalking Horse Bid is obtained by
the Stalking Horse Bid Deadline, the Debtors will announce the
designation of such Stalking Horse Bidder by filing a notice (
"Stalking Horse Bid Notice") on the Court's docket containing the
identity of the Stalking Horse Bidder and the Assets that are the
subject of the Stalking Horse Bid, and attaching any agreement
accompanying the Stalking Horse Bid.

The Bid Procedures further contemplate that the Debtors may seek
Court approval, at the Bid Procedures Hearing or on shortened
notice thereafter, to provide customary bid protections to a
Stalking Horse Bidder, including but not limited to a break-up fee
and expense reimbursement.

Sports Authority Holdings, et al.'s attorneys:

          Michael R. Nestor, Esq.
          Kenneth J. Enos, Esq.
          Andrew L. Magaziner, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Telephone: (302)571-6600
          Facsimile: (302)571-1253
          E-mail: mnestor@ycst.com
                 kenos@ycst.com
                 amagaziner@ycst.com

                 - and -

          Robert A. Klyman, Esq.
          Matthew J. Williams, Esq.
          Jeremy L. Graves, Esq.
          Sabina Jacobs, Esq.
          GIBSON, DUNN & CRUTCHER LLP
          333 South Grand Avenue
          Los Angeles, CA 90071-1512
          Telephone: (213)229-7000
          Facsimile: (213)229-7520
          E-mail: rklyman@gibsondunn.com
                  mjwilliams@gibsondunn.com
                  jgraves@gibsondunn.com
                  sjacobs@gibsondunn.com

                  About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.

Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.


STRATA SKIN: Broadfin Capital Reports 9.9% Stake as of March 11
---------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Broadfin Capital, LLC, Broadfin Healthcare Master Fund,
Ltd. and Kevin Kotler reported that as of March 11, 2016,
they may be deemed to be the beneficial owner of 1,008,297 shares
of common stock of Strata Skin Sciences, Inc., representing 9.9%,
based upon the 10,183,393 shares of Common Stock outstanding as of
Nov. 13, 2015, according to the Issuer's Form 10-Q filed on
Nov. 16, 2015.  A copy of the regulatory filing is available for
free at http://is.gd/K9rLot

                   About STRATA Skin Sciences

STRATA Skin Sciences (formerly MELA Sciences, Inc.) is a medical
technology company focused on the therapeutic and diagnostic
dermatology market.  Its products include the XTRAC laser and VTRAC
excimer lamp systems utilized in the treatment of psoriasis,
vitiligo and various other skin conditions; and the MelaFind system
used to assist in the identification and management of melanoma.

Strata Skin reported a net loss attributable to common stockholders
of $27.91 million on $18.49 million of revenues for the year ended
Dec. 31, 2015, compared to a net loss of $16.03 million on $915,000
of revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Strata Skin had $51.37 million in total
assets, $35.28 million in total liabilities and $16.08 million in
total stockholders' equity.


STRATA SKIN: Incurs $27.9 Million Net Loss in 2015
--------------------------------------------------
Strata Skin Sciences, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
attributable to common stockholders of $27.91 million on $18.49
million of revenues for the year ended Dec. 31, 2015, compared to a
net loss of $16.03 million on $915,000 of revenues for the year
ended Dec. 31, 2014.

As of Dec. 31, 2015, Strata Skin had $51.4 million in total assets,
$35.3 million in total liabilities and $16.08 million in total
stockholders' equity.

As of Dec. 31, 2015, the Company had $4.9 million of working
capital compared to $15 million as of Dec. 31, 2014.  Cash and cash
equivalents were $3.31 million, including restricted cash of
$15,000 as of Dec. 31, 2015, as compared to $11.4 million as of
Dec. 31, 2014.

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

                       http://is.gd/QV1qmO

                    About STRATA Skin Sciences

STRATA Skin Sciences (formerly MELA Sciences, Inc.) is a medical
technology company focused on the therapeutic and diagnostic
dermatology market.  Its products include the XTRAC laser and VTRAC
excimer lamp systems utilized in the treatment of psoriasis,
vitiligo and various other skin conditions; and the MelaFind system
used to assist in the identification and management of melanoma.


SUNDEVIL POWER: Court Approves $45-Mil. DIP Financing From Beal
---------------------------------------------------------------
Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District
of Delaware entered a final order authorizing debtors Sundevil
Power Holdings, LLC and SPH Holdco LLC to use cash collateral and
obtain secured superpriority postpetition financing from CLMG
Corp., as administrative agent and as collateral agent, and the
lenders led by Beal Bank USA.

The Debtors said an immediate need exists funds and liquidity in
order to continue operations, to satisfy in full the costs and
expenses of administering the cases and to preserve the value of
their estates pending a sale of all or substantially all of the
Debtors' assets and property.

Prepetition, the Debtors entered into a Credit Agreement with Beal
Bank USA as prepetition lender and CLMG Corp., as prepetition
agent, which provided for $160,000,000 term loan credit facility, a
$25,000,000 revolving credit facility, which includes a letter of
credit facility, a $40,000,000 incremental term loan facility, an
additional incremental term loan facility consisting of two
tranches in the aggregate amounts of $7,700,000 and $2,700,000
respectively and another $1,500,000 incremental facility
("Prepetition Credit Facility").  The Prepetition Secured Parties
were granted first priority liens on, and security interests in
substantially all of the Debtors' assets and property, including
the equity interests in the Debtors, subject to certain Permitted
Liens.

Judge Carey authorized the Debtors to enter into a DIP Credit
Agreement with CLMG Corp., as DIP Agent and various lenders.  The
Debtors are authorized to borrow up to an aggregate principal
amount of $45,000,000 under the DIP Facility.

The DIP Credit Agreement contains, among others, these relevant
terms:

     (a) Loans: Each Revolving Lender severally agrees to make
loans to Sundevil Power Holdings, LLC, as borrower, from time to
time, in an aggregate amount not to exceed at any time outstanding
the amount of such Revolving Lender's Revolving Credit Commitment.

     (b) Prepayment: Each prepayment of Revolving Loans will be in
a principal amount of $500,000 or a whole multiple of $100,000 in
excess thereof or, the entire principal amount then outstanding.

     (c) Interest: (i) Each Eurodollar Rate Loan will bear interest
on the outstanding principal amount thereof for each Interest
Period at a rate per annum equal to the Eurodollar Rate for such
Interest Period plus the Applicable Rate of 7.5% per annum and (ii)
each Base Rate Loan will bear interest on the outstanding principal
amount thereof from the applicable borrowing date at a rate per
annum equal to the Base Rate plus the Applicable Rate of 6.5% per
annum.

     (d) The Borrower will pay to the Administrative Agent for the
account of each Revolving Lender in accordance with its Applicable
Revolving Percentage, a commitment fee equal to the Applicable fee
rate of 0.75% per annum, times the actual daily amount by which the
Revolving Credit Facility exceeds the Total Revolving Outstanding,
subject to adjustment.

Judge Carey likewise authorized the Debtors to use cash collateral
and request and use proceeds of the DIP Extensions of Credit, in
the amounts provided for in the line item expenditures set forth in
the DIP Budget.  Judge Carey held that the Debtors may use cash
collateral or DIP Extensions of Credit to pay reasonable and
documented costs of the Debtor Professionals, to the extent allowed
by the Court.

A full-text copy of the Final DIP Order, dated March 3, 2016, is
available at http://is.gd/tBfEzH

                   About Sundevil Power Holdings

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.


SWIFT ENERGY: DIP Lenders to Receive Reorganized Co. Common Stock
-----------------------------------------------------------------
Swift Energy Company, et al., on February 5, 2015, filed the Joint
Plan of Reorganization and accompanying Disclosure Statement.
Attached as Exhibit to the Disclosure Statement is the
Restructuring Support Agreement, dated as of December 31, 2015,
between the Debtors and certain of their senior noteholders.

Among other things, the RSA established a deadline for the Debtors
and the Consenting Noteholders to reach an agreement regarding the
treatment of the debtor-in-possession financing provided by certain
of the Consenting Noteholders.  The Debtors and the Consenting
Noteholders have agreed that the DIP Financing will be converted in
full to common stock of the reorganized Swift Energy Company, and
therefore have agreed to certain conforming changes to the Plan to
reflect the agreement.

A full-text copy of the First Amended Plan dated March 15, 2016, is
available at http://bankrupt.com/misc/SWIFTplan0315.pdf

The Debtors also filed a term sheet of their Exit Facility, a
full-text copy of which is available at
http://bankrupt.com/misc/SWIFTexit0311.pdf

The Debtors also filed the following Plan Exhibits:

   * Exhibit B – Form of Warrant Agreement
   * Exhibit C – Identifies of New Swift Board Members
   * Exhibit D – List of Oil and Gas Leases
   * Exhibit E – List of Executory Contracts and Unexpired
Leases
                    to be Rejected

Full-text copies of the Plan Exhibits are available at
http://bankrupt.com/misc/SWIFTplanex0309.pdf

The Debtors are represented by Daniel J. DeFranceschi, Esq.,
Zachary I. Shapiro, Esq., and Brendan J. Schlauch, Esq., at
Richards, Layton & Finger, P.A., in Wilmington, Delaware; and
Gregory M. Gordon, Esq., at Jones Day, in Dallas, Texas; and Thomas
A. Howley, Esq., and Paul M. Green, Esq., at Jones Day, in Houston,
Texas.

                       About Swift Energy

Headquartered in Houston, Texas, Swift Energy Company is an
independent energy company engaged in the exploration, development,
production and acquisition of oil and natural gas properties.  Its
primary assets and operations are focused in the Eagle Ford trend
of South Texas and the onshore and inland waters of Louisiana.

Swift Energy Company and eight of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 15-12669 to
15-12677) on Dec. 31, 2015, with a Chapter 11plan of Reorganization
that, among other things, exchanges the approximately $905.1
million outstanding on account of senior notes obligations for 96%
of the common equity in the Reorganized Debtors.

The petitions were signed by Alton D. Heckaman, Jr., the executive
vice president and CFO.  Judge Mary F. Walrath is assigned to the
cases.

Swift Energy Company disclosed total assets of $416,358,243 plus an
undetermined amount and total liabilities of $1,233,022,421 plus an
undetermined amount.  Other Debtors disclosed total assets of $1.02
billion and total debt of $1.34 billion as of Sept. 30, 2015.

The Debtors engaged Jones Day as general counsel; Richards, Layton
& Finger, P.A., as local counsel; Lazard Freres & Co, LLC as
investment banker; Alvarez & Marsal North America LLC as financial
advisor; and Kurtzman Carson Consultants LLC as claims and noticing
agent.

The Office of the U.S. Trustee appointed three creditors to the
Debtors' official committee of unsecured creditors.  Reed Smith
LLP represents the committee.

                        *     *     *

A hearing to consider confirmation of the Plan will be held on
March 30, 2016, at 10:30 a.m., (prevailing Eastern Time).
Objections, if any, to confirmation of the Plan must be filed with
the Court no later than 4:00 p.m., prevailing Eastern Time, on
March 23.


TELESAT CANADA: Moody's Affirms 'B1' Corporate Family Rating
------------------------------------------------------------
Moody's Investors Service affirmed Telesat Canada's (Telesat) B1
corporate family rating, B1-PD probability of default rating, and
maintained the company's negative ratings outlook. Telesat's
speculative grade liquidity rating was lowered to SGL-4 from SGL-2,
indicating weak liquidity. All existing debt instrument ratings
were affirmed at their existing ratings (refer to the ratings
listing below).

The actions are driven by Telesat's 2017 refinancing risk: US$900
million senior unsecured notes, due May 2017, and $640 million
credit facilities ($140 million revolver and $500 million Term Loan
A), due Mar 2017. While Moody's believes Telesat will be able to
refinance, execution risks exist, and unless the maturities are
addressed soon, negative rating action may occur.

The following summarizes Moody's ratings and today's rating actions
for Telesat:

Rating and Outlook Actions:

Issuer: Telesat Canada

-- Corporate Family Rating: Affirmed at B1

-- Probability of Default Rating: Affirmed at B1-PD

-- Speculative Grade Liquidity Rating: Lowered to SGL-4 from
    SGL-2

-- Outlook: Maintained at Negative

-- Senior Secured Credit Facility: Affirmed at Ba3 (LGD3)

-- Senior Unsecured Regular Bond/Debenture: Affirmed at B3 (LGD5)

RATINGS RATIONALE

Telesat's B1 corporate family rating is driven by its stable and
predictable revenue and reasonable leverage, but also by heightened
refinance risks for its 2017 maturities, its private equity
ownership and the related risks of future shareholder friendly
actions that would adversely affect leverage. The company's strong
business profile, featuring a stable contract-based revenue stream
with a nearly five-year equivalent revenue backlog of $4.8 billion
that is booked with well-regarded customers, provides a solid
positive consideration.

Telesat's liquidity is weak (SGL-4) because the company has to
refinance US$900 million senior unsecured notes, due May 2017, and
$640 million in credit facilities, due March 2017, but lacks the
internal resources to address these maturities. At 31 December
2015, Telesat had $691 million cash on hand and Moody's expects the
company to generate about $75 million of free cash flow in 2016.
The $140 million (undrawn) revolver is also due in 2017 unless the
senior unsecured notes have been previously refinanced and is
therefore not a source of liquidity. “We expect the company to
maintain strong covenant compliance, and has the ability to sell
assets to bolster liquidity.”

Rating Outlook

The outlook is negative given heightened refinance risks stemming
from early 2017 maturities of Telesat's credit facilities and
senior notes.

What Could Change the Rating - Up

-- Debt/EBITDA to be less than ~5x on a sustained basis (5.2x at
    31 December 2015)

-- Free Cash Flow to Debt in excess of ~7.5% on a sustained basis

    (8.1% at 31 December 2015)

-- Along with:

    Solid industry fundamentals

    Good execution

    Clarity on ownership strategy and leverage

What Could Change the Rating - Down

-- Upcoming maturities are not refinanced in the very near term

-- Debt/EBITDA to be greater than ~6x on a sustained basis (5.2x
    at 31 December 2015)

-- Free Cash Flow to Debt less than 2.5% on a sustained basis
    (8.1% at 31 December 2015)

Corporate Profile

Headquartered in Ottawa, Ontario, Canada, Telesat Canada (Telesat)
is the world's fourth largest provider of fixed satellite services.
The company's fourteen geosynchronous in-orbit satellites are
concentrated in the Americas. Telesat also has interests in the
Canadian payload on Viasat-1, and manages operations of additional
satellites for third parties.



TGHI INC: Court Approves Joint Administration of Cases
------------------------------------------------------
The Hon. Bankruptcy Court for the Southern District of New York
authorized the joint administration of the Chapter 11 cases of
Parent THI, INC., and TGHI, Inc., for procedural purposes only.

The Clerk of the Court will maintain one file and one docket for
all of the cases, under the Chapter 11 case of TGHI, Inc., Case No.
16-10300.

As reported in the Troubled Company Reporter on Feb. 12, 2016,
Tracy L. Klestadt, Esq., at Klestadt Winters Jureller Southard &
Stevens, LLP, counsel for the Debtors, said that absent entry of an
order directing joint administration, day-to-day administration
would require duplicative notices, applications and orders.  He
added that joint administration eliminates these issues, thereby
saving the Debtors' estates significant time and expense.

Additionally, Mr. Klestadt maintained that (a) the Court would be
relieved of the burden of entering duplicative orders and
maintaining duplicative dockets and files, and (b) the United
States Trustee for Southern District of New York's supervision of
the administrative aspects of the Chapter 11 Cases would be
simplified.

Accordingly, the Debtors request that the Clerk of the United
States Bankruptcy Court for the Southern District of New York
maintain one file and one docket for the two jointly administered
cases under the case number of TGHI, Inc. and that the Clerk of the
Court administer the cases under a consolidated caption.

                          About TGHI, Inc.

TGHI, Inc. and Parent THI, Inc. filed petitions under Chapter 11 of
the Bankruptcy Code (Bankr. S.D.N.Y. Case Nos. 16-10300 and
16-10301, respectively) on Feb. 9, 2016, to effectuate a wind down
and dissolution of their estates.

The Debtors were the former direct or indirect holding companies of
Targus Group International, Inc. and its operating subsidiaries --
which are now unaffiliated with the Debtors and are not "Debtors"
in the Chapter 11 Cases -- and were a leading global supplier of
carrying cases and accessory products for the mobile lifestyle.

TGHI, Inc. estimated assets in the range of $1 million to $10
million and liabilities of $10 million to $50 million.  Parent THI,
Inc. estimated assets of $0 to $50,000 and liabilities of     $50
million to $100 million.

Judge Michael E. Wiles is assigned to the case.

The Debtors have engaged Klestadt Winters Jureller Southard &
Stevens, LLP as counsel and Kurtzman Carson Consultants LLC as
claims, noticing agent and administrative agent.


TRAVELPORT WORLDWIDE: Closes Secondary Offering of Common Shares
----------------------------------------------------------------
Travelport closed an underwritten public offering by certain of the
Company's shareholders of an aggregate of 10,604,740 of the
Company's common shares.  The price paid to the Selling
Shareholders by the Underwriter was $13.36 per share.  The Company
did not receive any proceeds from the sale of common shares in the
Offering.

Credit Suisse acted as sole underwriter for the Offering.

                   About Travelport Worldwide

Travelport Worldwide Limited is a travel commerce platform
providing distribution, technology, payment and other solutions for
the global travel and tourism industry.

As of Dec. 31, 2015, Travelport had $2.92 billion in total assets,
$3.25 billion in total liabilities and a total deficit of $323
million.

                           *     *     *

As reported by the TCR in March 2015, Standard & Poor's Ratings
Services raised to 'B' from 'B-' its long-term corporate credit
rating on U.K.-based travel services provider Travelport Worldwide
Ltd.  The rating action reflects Travelport's good operating
performance in 2014.


TRINITY TOWN: Corner Seeks Court OK to Loan $150,000 to Debtor
--------------------------------------------------------------
Trinity Corner, LLC, seeks authority from the U.S. Bankruptcy Court
to loan monies to Trinity Town Center, LLLP, on a monthly basis
commencing on March 1, 2016, equal to the net rent received by
Corner pursuant to a prepetition assignment of rents.

According to Corner, the Debtor has an immediate need to obtain
postpetition financing to pay its normal and ordinary operating
expenses as they come due in the ordinary course of the Debtor's
business and to make those purchases necessary to preserve the
going concern value of its business and assets pending any
reorganization efforts.

Corner agrees to an open-ended line of credit up to $150,000 in
financing to meet a portion of the Debtor's immediate liquidity
needs, for a security interest in and lien upon the Debtor's real
property and other business assets and granting Corner a
third-priority lien and an administrative expense claim subject to
the super priority loan previously awarded to Sunfield and
Sunfield's existing mortgage.  The monthly payments will accrue
interest at fixed 6.25% per annum.

Corner's proposed loan is an extension of credit that will be
subordinated only to that debt secured by the primed loan from
Sunfield, the Sunfield Mortgage and Security Agreement, an
Assignment of Rents and Leases and a UCC financing statement.

Trinity Corner, LLC is represented by:

     David L. Schrader, Esq.
     Suite 901, 111 Second Avenue NE
     St. Petersburg, FL 33701
     Telephone: (727) 456-5772
     Email: dschraderlaw@gmail.com
            dschraderlaw.assistant@gmail.com

        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 estimated assets of $10 million to $50 million and debt
of $0 to $50,000.

The Debtor has tapped McIntyre Thanasides Bringgold Elliot as its
legal counsel.

The 11 U.S.C. Sec. 341(a) meeting of creditors was scheduled for
March 9, 2016.  The deadline for filing claims is May 9, 2016.


TRINITY TOWN: Maynard Luetgert Approved as CRO
----------------------------------------------
A bankruptcy judge in Tampa, Florida, has authorized Trinity Town
Center, LLLP, to employ Maynard D. Luetgert as Chief Restructuring
Officer.

The Debtor requires the services of a CRO to manage, reorganize and
restructure the Debtor, including preparation of periodic reports
and providing independent advice and assistance relating to tax and
financial issues of the Debtor.  

Prior to and up to the date of the bankruptcy filing, Mr. Luetgert
was
employed by the Debtor to oversee all operational functions of the
Debtor, and administering and operating the property of the Debtor.


As CRO, Mr. Luetgert will:

     -- oversee the reorganized Debtors' accounting functions;
     -- manage bookkeeping duties including review and payment of
vendor invoices, making deposits and reconciling reorganized
Debtors' bank statements;
     -- prepare Cash Flow and Operating Reports;
     -- prepare regular updates analyzing the Debtors' real estate
investments;
     -- monitor and manage the wind down LLLP's operations and the
recovery of reserves;
     -- assist counsel  in the analysis  of claims and the
prosecution of objections as appropriate.

During the one year prior to the Chapter 11 filing, Mr. Luetgert
did not take a salary, as he was employed by the Debtor on January
18, 2016, consistent with a Settlement Agreement with Sunfield
Homes, Inc., the Debtor's largest secured creditor, as well as
other parties.

Pursuant to the Plan of Reorganization, Mr. Luetgert, acting as
CRO, shall receive a professional fee carve-out from the Class Two
creditor, amounting to $50,000.00.

Mr. Luetgert attests that he does not represent an interest adverse
to the Debtor or the estate, in the matters upon which he is to be
engage by the Debtor.

                    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 scheduled $25,215,778 in total assets and $21,599,870 in
total liabilities.

The Debtor has tapped McIntyre Thanasides Bringgold Elliot as its
legal counsel.

                            *     *     *

The deadline for filing claims is May 9, 2016.


USA DISCOUNTERS: Inventory Sold to Harris Originals for $900K
-------------------------------------------------------------
Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the
District of Delaware entered an order authorizing USA Discounters,
Ltd. to sell certain inventory to Harris Originals of NY, Inc.  The
Debtors had filed a motion to sell inventory to SimplexDiam Inc.
for $766,768, subject to higher and better offers.  The inventory
to be sold represents substantially all of the remaining
"Fletcher's Jewelers" that were not sold at the going out of
business sales in seven remaining "Fletcher's Jewelers" stores.  On
March 4, Harris Originals submitted a higher bid for the inventory.
Simplex did not submit a buyer topping bid, thus the higher bid
submitted by Harris is the winning bid.  According to the Asset
Purchase Agreement, Harris has agreed to pay $900,000 in cash for
the inventory.

USA Discounters, Ltd. and its affiliated debtors are represented
by:

          Laura Davis Jones, Esq.
          James E. O'Neill, Esq.
          Colin R. Robinson, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          919 North Market Street, 17th Floor
          P.O. Box 8705
          Wilmington, DE 19899-8705 (Courier 19801)
          Telephone: (302)652-4100
          Facsimile: (302)652-4400
          E-mail: ljones@pszjlaw.com
                 jo'neill@pszjlaw.com
                 crobinson@pszjlaw.com

                 - and -

          Lee R. Bogdanoff, Esq.
          Michael L. Tuchin, Esq.
          Whitman L. Holt, Esq.
          Sasha M. Gurvitz, Esq.
          KLEE, TUCHIN, BOGDANOFF & STERN LLP
          1999 Avenue of the Stars, 39th Floor
          Los Angeles, CA 90067
          Telephone: (310)407-4023
          Facsimile: (310)407-9090
          E-mail: lbogdanoff@ktbslaw.com
                 mtuchin@ktbslaw.com
                 wholt@ktbslaw.com
                 sgurvitz@ktbslaw.com

                      About USA Discounters

USA Discounters was founded in May 1991. in the City of Norfolk,
Virginia, under the name USA Furniture Discounters, Ltd.  It sold
goods through two groups of stores -- one group of specialty
retail
stores operating under the "USA Living" brand, typically in
standalone locations, and seven additional retail stores operating
under the "Fletcher's Jewelers" brand, typically in major shopping
malls.

USA Discounters, Ltd., and two affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 15-11755) on
Aug. 24, 2015, to wind down the business.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys, and Kurtzman Carson
Consultants, LLC, as claims and noticing agent.

USA Discounters Ltd. disclosed total assets of $97,490,455 plus an
undetermined amount and total liabilities of $63,011,206 plus an
undetermined amount.

The Official Committee of Unsecured Creditors is represented by
Kelly Drye & Warren LLP as lead counsel, Khler Harrison Harvey
Branzburg LLP as its Delaware co-counsel.  FTI Consulting, Inc.,
serves as its financial advisor.


USA DISCOUNTERS: UCC Seeks Standing to Sue Secured Lenders
----------------------------------------------------------
The Official Committee of Unsecured Creditors of USA Discounters,
Ltd., et al., filed a motion for entry of an order granting the
Committee leave, standing authority to commence and settle on
behalf of the Debtors' estates claims against the prepetition
secured lenders.

USA Discounters is party to a loan and security agreement, dated
Oct. 3, 2013, with Wells Fargo Bank, N.A., as agent, in the
original principal amount of $85.0 million.  As of the Petition
Date, the Debtors claim that the outstanding principal amount of
all obligations owing by the Debtor to the secured parties was
approximately $59,983,291.  USAD granted Wells Fargo a lien on
substantially all of USAD's real and personal property, including
USAD's accounts receivable, inventory, general intangibles,
commercial tort claims, as well as cash and non-cash proceeds of
any collateral ("Prepetition Collateral").

The Committee says its standing is required because the Debtors
have stipulated to the validity of the Security Parties' liens and
have released any claims or causes of action that they may have
against the Secured Parties, subject only to the Committee's rights
to assert the claims by certain deadlines in the Cash Collateral
Order.

Following an investigation, the Committee has determined that the
Prepetition Agent did not properly perfect is security interest in
certain USAD assets.  According to the Committee's draft complaint,
the Committee seeks to avoid Wells Fargo Bank, N.A.'s, prepetition
lien on (a) commercial tort claims, (b) Leasehold Interests, (c)
deposit account at a non-Wells Fargo bank, and (d) motor vehicles,
because Wells Fargo failed to perfect the prepetition lien on such
assets in accordance with applicable law.

In the draft complaint, the Official Committee also seeks a
declaratory judgment that the Prepetition Lien does not attach to
any assets of USA Discounters Holding Company, Inc. ("USAD
Holding") or USA Discounters Credit, LLC ("USAD Credit") because it
contends that neither of these entities are obligors under the Loan
Agreement or pledged any collateral to Wells Fargo, and despite the
clear and unambiguous exclusion of the affiliate Debtors' assets
from the collateral specified in the Loan Agreement, Wells Fargo
has refused to acknowledge that the affiliated Debtors' assets are
unencumbered by the Prepetition Lien.

The Creditors Committee further seeks to avoid and recover as a
preferential transfer, the prepetition lien that attached, during
the preference period, to a an approximate $2.9 million tax refund
the Debtors received or are projected to received from the federal
government and various state taxing authorities for the Debtors'
2015 taxable year.   The Committee notes that in the cases, where
general unsecured claims are approximately $10 million, the ability
to recover $2.9 million will provide a meaningful recovery for
general unsecured creditors.



The Official Committee of Unsecured Creditors is represented by:

          Domenic E. Pacitti, Esq.
          Linda Richenderfer, Esq.
          KHLER HARRISON HARVEY
          BRANZBURG LLP
          919 Market Street, Suite 100
          Wilmington, DE 19801-3062
          Telephone: (302)426-1189
          Facsimile: (302)426-9193
          E-mail: dpacitti@klehr.com
                 lrichenderfer@klehr.com

                   About USA Discounters, Ltd.

USA Discounters was founded in May 1991. in the City of Norfolk,
Virginia, under the name USA Furniture Discounters, Ltd.  It sold
goods through two groups of stores -- one group of specialty
retail
stores operating under the "USA Living" brand, typically in
standalone locations, and seven additional retail stores operating
under the "Fletcher's Jewelers" brand, typically in major shopping
malls.

USA Discounters, Ltd., and two affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 15-11755) on
Aug. 24, 2015, to wind down the business.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys, and Kurtzman Carson
Consultants, LLC, as claims and noticing agent.

USA Discounters Ltd. disclosed total assets of $97,490,455 plus an
undetermined amount and total liabilities of $63,011,206 plus an
undetermined amount.

The Official Committee of Unsecured Creditors is represented by
Kelly Drye & Warren LLP as lead counsel, Khler Harrison Harvey
Branzburg LLP as its Delaware co-counsel.  FTI Consulting, Inc.,
serves as its financial advisor.


UTE MESA: FCB Objects to Bid for Ch. 11 Dismissal
-------------------------------------------------
First Citizens Bank & Trust objects to Ute Mesa Lot 1, LLC's motion
to dismiss its Chapter 11 case, refuting the the Debtor's
allegation that the State Court Litigation and the "lis pendens
filed against the property have prevented the Debtor from
proceeding with development."

Notwithstanding the disputed Motion, FCB is agreeable that its
prepetition receiver need not be reinstated unless conditioned upon
entry of an order dismissing the Chapter 11 reiterating that the
Debtor and parties in interest are bound to any and all issues that
have been litigated and decided in the Court and related appeals.

According to the Debtor, FCB is not entitled to a blanket order
providing that any and all orders entered and issues actually
litigated and decided remain binding on Debtor, which will simply
create a significant ambiguity in meaning.  Though the Debtor has
repeatedly requested that FCB advise it of which specific orders
FCB would like to remain in full force and affect, FCB has
repeatedly refused to make this disclosure. However, prior to the
filing of Debtor's Motion to Dismiss and prior to the status
conference, FCB did request that the orders relating to the lis
pendens remain in full force and effect, thus, the Debtor is
willing to agree that the orders relating to the lis pendens remain
in full force and effect.

Counsel for Ute Mesa Lot 1, LLC is represented by:

     Duncan E. Barber,Esq.
     BIEGING SHAPIRO & BARBER LLP
     4582 S. Ulster St. Pkwy, Suite 1650
     Denver, CO 80237
     Telephone: (720) 488-0220
     Email: dbarber@bsblawyers.com

First-Citizens Bank & Trust Company is represented by:

     Craig A. Christensen, Esq.
     Theodore J. Hartl, Esq.
     LINDQUIST & VENNUM LLP
     600 17th Street, Suite 1800-S
     Denver, CO 80202
     Telephone: (303) 573-5900
     Facsimile: (303) 573-1956
     E-mail: cchristensen@lindquist.com
             thartl@lindquist.com

        About Ute Mesa Lot 1, LLC

Denver, Colorado-based Ute Mesa Lot 1, LLC, filed for Chapter 11
bankruptcy (Bankr. D. Colo. Case No. 10-30620) on Aug. 13, 2010.
Duncan E. Barber, Esq., and Steven T. Mulligan, Esq., at Bieging
Shapiro & Burrus LLP, in Denver, assist the Debtor in its
restructuring effort. Ute Mesa owns real property located in Pitkin
County, Colorado. The Debtor disclosed $10,017,982 in assets and
$11,633,024 in liabilities.


VALEANT PHARMA: Fails to File 10-K, Defaults on Covenant
--------------------------------------------------------
Valeant Pharmaceuticals International, Inc. on Tuesday issued a
press release announcing preliminary unaudited financial results
for the fourth quarter ended December 31, 2015.

Valeant said the filing of the Company's Annual Report on Form 10-K
for the year ended December 31, 2015, will be delayed pending
completion of the Company's ongoing review of certain historical
financial statements. The Company is working diligently and intends
to file the Form 10-K as promptly as reasonably practicable.

Valeant disclosed that under the various indentures governing the
Company's outstanding notes, if the Company does not file the Form
10-K by March 15, 2016, the Company will be in breach of the
reporting covenant in the indentures and the trustee or holders of
at least 25% of any series of notes may deliver a notice of
default. The Company then would have 60 days from the date of
receipt of a notice of default to file the Form 10-K and thereby
cure the default. If the Company does not cure the default by the
end of the 60-day period, the notes may be accelerated by the
trustee or holders of at least 25% of the series of notes that
provided the notice of default. The acceleration of one series of
notes could result in a cross acceleration to other outstanding
series of notes.

The occurrence of a default under the notes would result in a cross
default under the Company's bank credit agreement. The banks would
be able to accelerate the loans under the credit agreement as a
result of this default only in the event the Company does not file
the Form 10-K before the 60-day cure period expires.

In addition, if the Company does not file the Form 10-K by March
30, 2016, a default will occur under the Company's bank credit
agreement. The Company then would have 30 days to cure the default.
The banks would be able to accelerate the loans under the credit
agreement as a result of this default only in the event the Company
does not file the Form 10-K before the 30-day cure period expires.


During the pendency of a default under the credit agreement
(including a cross-default stemming from a breach of the reporting
covenant in the note indentures caused by the Company's failure to
file the Form 10-K by March 15, 2016), the Company would not be
able to draw on the revolver.

Valeant posted a net loss of $336.9 million for the three months
ended Dec. 31, 2015.  Total revenues were $2.788 billion for the
quarter.

As of Dec. 31, 2015, Valeant had $597.3 million in cash and $823.0
in current debt obligations.

Valeant's debt obligations total $31.088 billion, including the
current portion:

                                            ($ in Millions)
   Revolving Credit Facility                    $250.0
   Series A-1 Tranche A Term Loan Facility       140.4   
   Series A-2 Tranche A Term Loan Facility       137.3
   Series A-3 Tranche A Term Loan Facility     1,881.5
   Series A-4 Tranche A Term Loan Facility       951.3
   Series D-2 Tranche B Term Loan Facility     1,087.5
   Series C-2 Tranche B Term Loan Facility       835.1
   Series E-1 Tranche B Term Loan Facility     2,531.2
   Series F Tranche B Term Loan Facility       4,055.8
   Senior Notes                               19,206.0
   Other                                          12.3
                                             ---------
                                             $31,088.4

An Ad Hoc Committee of the Board of Directors of Valeant was
appointed to review the Company's relationship with Philidor Rx
Services, LLC and related matters.  On February 22, 2016, Valeant
announced that, based on the work of the Ad Hoc Committee, as well
as additional work and analysis by the Company, the Company had
preliminarily identified approximately $58 million of net revenues
previously recognized in the second half of 2014 that should not
have been recognized upon delivery of product to Philidor.
Correcting the misstatement is expected to reduce reported 2014
GAAP earnings per share by approximately $0.10 and increase 2015
GAAP earnings per share by approximately $0.09, the Company said on
Feb. 29.

Laval, Quebec-based Valeant Pharmaceuticals International, Inc.
(NYSE: VRX and TSX: VRX) -- http://www.valeant.com/-- is a
multinational specialty pharmaceutical company that develops,
manufactures and markets a broad range of pharmaceutical products
primarily in the areas of dermatology, gastrointestinal disorder,
eye health, neurology and branded generics.


VARIANT HOLDING: Marcus & Millichap Approved as Real Estate Broker
------------------------------------------------------------------
The so-called "property-owning" debtor affiliates of Variant
Holding Company, LLC, sought and obtained permission from the
Delaware bankruptcy court to employ Marcus & Millichap Real Estate
Investment Services as their real estate broker.

The "Property Owning Debtors" consist of the FX3 Portfolio Debtors,
the H14 Portfolio Debtors, and Oaks at Stonecrest.

Marcus is one of the largest real estate investment services
companies in the United States and has over 70 offices located
across the U.S. and Canada.  It specializes in selling and
arranging financing for large shopping centers, office buildings,
apartment buildings, and hotel properties.

The Debtors and Marcus entered into a Representation Agreement
(Exclusive Right to Sell or Exchange) dated Feb. 1, 2016.

The Property-Owning Debtors have agreed to pay to Marcus these
fees:

     (A) Marcus will be paid a commission equal to 0.50% of the
         purchase price of the Property upon the occurrence of
         any of the following events:

         -- A purchaser closes on the purchase of the Property
            during the Term; or

         -- A sale, exchange or other conveyance of the Property
            is made during the Term, or within 60 days of the
            expiration of the Term to a person or entity with
            whom Marcus has negotiated, or to whose attention
            the Property has been brought by Marcus, or who was
            introduced to Sellers by Marcus as a prospective
            purchaser, provided that (i) the name of any such
            person or entity has been submitted to Sellers by
            delivery of a written offer to purchase the
            Property prior to expiration of the Term, or
            (ii) written notice has been given to Sellers of
            the name of the Prospective Purchaser within 15
            calendar days after the expiration of the Term.
            With respect to a sale, exchange or other
            conveyance to any Prospective Purchaser, Marcus
            shall conclusively be deemed to be the procuring
            cause. The term "Prospective Purchaser" shall
            include that person or entity to whose attention
            Marcus has brought the Property, as well as any
            partnership, joint venture, corporation, trust
            or other similar entity which that person or
            entity represents or in which it holds an
            ownership or beneficial interest.

     (B) In the event that the sale of the Property or any
         portion thereof fails to close for any reason
         whatsoever, including Sellers' default, Marcus shall
         not be entitled to any fee, commission or other
         compensation under the Agreement.

In the event Beach Point Capital Management or any affiliate or
designee thereof purchases all or a portion of the Property
pursuant to the Portfolio Purchase
and Sale Agreement dated as of January 18, 2016, by and between the
Debtors and certain BPCM entities or funds, the Commission for any
BPCM Purchased Properties purchased by BPCM, will be equal to 0.20%
of the Purchase Price -- not including any increased bids by BPCM
-- of the BPCM Purchased Properties.  This provision supersedes the
Fee Structure set forth above as to the BPCM Purchased Properties.

Marcus and BPCM have agreed that Marcus shall have the right to
exclusively represent BPCM in any future sale of the Property
within three years after the purchase date by BPCM.

The Engagement Agreement provides that the Property-Owning Debtors
will indemnify Marcus under certain circumstances.

Drew Kile at Marcus & Millichap has informed the Property-Owning
Debtors that the firm (a) has no connection with the
Property-Owning Debtors, their creditors, equity security holders
or other parties in interest or their respective attorneys or
accountants, the United States Trustee or any person employed in
the office of the United States Trustee in any matter related to
the Property-Owning Debtors and their respective estates; (b) does
not hold any interest adverse to the Property-Owning Debtors'
estates; and (c) believes that it is a "disinterested person" as
that term is defined in section 101(14) of the Bankruptcy Code.

                       About Variant Holding

Tucson, Arizona-based Variant Holding Company, LLC, and its direct
and indirect subsidiaries are a commercial real estate business
with direct and indirect ownership interests in 23 real property
interests in various states.

Variant Holding commenced bankruptcy proceedings under Chapter 11
of the U.S. Bankruptcy Code in Delaware (Case No. 14-12021) on
Aug.
28, 2014.  Variant Holding estimated $100 million to $500 million
in assets and less than $100 million in debt.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.

Variant's subsidiaries filed voluntary Chapter 11 petitions on
Jan.
12, 2016.  Variant's property-owning subsidiaries, which own 23
apartment complexes, and which are debtors are: (1) Broadmoor
Apartments, LLC, Chesapeake Apartments, LLC, Holly Ridge
Apartments, LLC, Holly Tree Apartments, LLC, Preston Valley
Apartments, LLC, Ravenwood Hills Apartments, LLC, River Road
Terrace Apartments, LLC, and Sandridge Apartments, LLC
(collectively, the "FX3 Portfolio Debtors"); (2) 10400 Sandpiper
Apartments, LLC, 10301 Vista Apartments, LLC, Pines of Westbury,
Ltd., 201 Ashton Oaks Apartments, LLC, 13875 Cranbook Forest
Apartments, LLC, 5900 Crystal Springs Apartments, LLC, 7107 Las
Palmas Apartments, LLC, 11911 Park Texas Apartments, LLC, 1201
Oaks
of Brittany Apartments LLC, 3504 Mesa Ridge Apartments, LLC, 667
Maxey Village Apartments, LLC, 17103 Pine Forest Apartments, LLC,
7600 Royal Oaks Apartments, LLC, and 4101 Pointe Apartments, LLC
(collectively, the "H14 Portfolio Debtors"); and (3) The Oaks of
Stonecrest Apartments, LLC ("Oaks at Stonecrest")(the FX3
Portfolio
Debtors, the H14 Portfolio Debtors and Oaks at Stonecrest are
collectively referred as the "Property-Owning Debtors").

The FX3 Portfolio Debtors own 8 apartment projects in Texas,
Maryland, Virginia, and South Carolina, which properties total
1,850 housing units.  The H14 Portfolio Debtors own 14 apartment
projects in Texas, which consist of a total of 5,050 housing
units.
Oaks at Stonecrest owns a single apartment project in Lithonia,
Georgia, which has 280 housing units.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP, as
counsel and UpShot Services LLC as claims and noticing agent.


VARIANT HOLDING: Subsidiaries Hire Jefferies as Investment Banker
-----------------------------------------------------------------
The debtor subsidiaries of Variant Holding Company, LLC, sought and
obtained permission from the Delaware bankruptcy court to employ
and retain Jefferies LLC as their investment banker in accordance
with the terms and conditions of an engagement letter dated
September 11, 2014, between Jefferies, the Subsidiary Debtors and
their ultimate parent company, Variant Holding Company, LLC.

Variant and each of the Subsidiary Debtors initially retained
Jefferies in August 2014 to advise and assist them in the potential
sale of their properties.  Jefferies has now been advising the
Debtors in connection with such sale efforts for more than a year
now. Although the Subsidiary Debtors did not originally commence
chapter 11 cases along with Variant, now that they have, they seek
an order approving the engagement of Jefferies so that Jefferies
can continue to advise them and continue to manage the ongoing sale
process and the related efforts to maximize the value of the
Debtors and their
estates.

On October 10, 2014, Variant filed its application to employ
Jefferies as its investment banker.  On November 14, 2014, the
Court entered an order approving the Initial Retention
Application.

On January 12, 2016, each of the Subsidiary Debtors other than
Variant filed for Chapter 11 protection.

The Debtors are a commercial real estate company with direct and
indirect ownership interests in 23 real properties in various
states.  Variant is the ultimate parent within the organization.

Pursuant to the Engagement Letter, Jefferies will only be entitled
to M&A Fees for each M&A Transaction that is consummated on or
after the date of the Court's Order approving the engagement:

     a. For an M&A Transaction in which BPC VHI, L.P, Beach Point
        Total Return Master Fund, L.P, Beach Point Distressed
        Master Fund, L.P. and/or any affiliate, designee or party
        that is related to the foregoing is the acquirer, a fee
        equal to 0.3% of the Transaction Value.

     b. For an M&A Transaction in which the Beach Point Funds are
        not the acquirer, a fee equal to, for each such M&A
        Transaction or series of related M&A Transactions with
        the same acquirer or affiliates thereof,

        (a) 0.5% of the Transaction Value for such M&A
            Transaction if the Transaction Value is less than
            $75 million,

        (b) 0.75% of the Transaction Value for such M&A
            Transaction if the Transaction Value is more than
            $75 million but less than $125 million and

        (c) 1.0% of the Transaction Value for such M&A
            Transaction if the Transaction Value is greater
            than $125 million.

For the avoidance of doubt, (i) the fee percentages set forth above
shall not apply to the M&A Transaction involving the Las Vegas
portfolio which was previously approved by the Court and
consummated in or around March 2015 and (ii) and an M&A Fee shall
be paid for each M&A Transaction that is consummated (for the
avoidance of doubt, however, a series of related M&A Transactions
with the same acquirer or affiliates thereof shall be considered a
single M&A Transaction for purposes of calculating the fees).

In addition, (x) Jefferies shall not seek the allowance of any
Monthly Fees against either Variant or the Subsidiary Debtors, (y)
any legal fees and expenses for which Jefferies may seek
reimbursement shall be capped at $30,000, and (z) any M&A Fee that
is owed under the Engagement Letter for any of the Debtors'
properties that is purchased by a person or entity other than the
Beach Point Funds through a credit bid shall not be required to be
paid or reserved for from the proceeds of such sale, but shall be
an administrative expense claim under section 503(b) of the
Bankruptcy Code against the Debtors earned upon the closing of such
sale, and shall be paid within three months of the effective date
of any chapter 11 plan filed for the Debtors; provided, however,
that if an order confirming a chapter 11 plan for the
Debtors has not been entered by October 31, 2016, then Jefferies
may seek payment of its administrative expense claims to the extent
permitted under the Bankruptcy Code, Bankruptcy Rules, or order of
this Court.

The Subsidiary Debtors agree to indemnify Jefferies.

Richard S. Klein, Managing Director at Jefferies, attests that his
firm (a) has no connection with the Subsidiary Debtors, their
creditors, equity security holders or other parties in interest or
their respective attorneys or accountants, the United States
Trustee or any person employed in the office of the United States
Trustee in any matter related to the Subsidiary Debtors and their
respective estates, (b) does not hold any interest adverse to the
Subsidiary Debtors' estates and (c) believes that it is a
"disinterested person" as that tern is defined in section 101(14)
of the Bankruptcy Code.

The firm may be reached at:

     Richard S. Klein, Managing Director
     Jefferies LLC
     520 Madison Avenue
     New York, New York 10022

                       About Variant Holding

Tucson, Arizona-based Variant Holding Company, LLC, and its direct
and indirect subsidiaries are a commercial real estate business
with direct and indirect ownership interests in 23 real property
interests in various states.

Variant Holding commenced bankruptcy proceedings under Chapter 11
of the U.S. Bankruptcy Code in Delaware (Case No. 14-12021) on
Aug.
28, 2014.  Variant Holding estimated $100 million to $500 million
in assets and less than $100 million in debt.

Members holding the majority of the interests in the company,
namely Conix WH Holdings, LLC, Conix Inc., Numeric Holding
Company, LLC, Walkers Dream Trust, and Variant Royalty Group, LP,
signed the resolution authorizing the bankruptcy filing.

Variant's subsidiaries filed voluntary Chapter 11 petitions on
Jan.
12, 2016.  Variant's property-owning subsidiaries, which own 23
apartment complexes, and which are debtors are: (1) Broadmoor
Apartments, LLC, Chesapeake Apartments, LLC, Holly Ridge
Apartments, LLC, Holly Tree Apartments, LLC, Preston Valley
Apartments, LLC, Ravenwood Hills Apartments, LLC, River Road
Terrace Apartments, LLC, and Sandridge Apartments, LLC
(collectively, the "FX3 Portfolio Debtors"); (2) 10400 Sandpiper
Apartments, LLC, 10301 Vista Apartments, LLC, Pines of Westbury,
Ltd., 201 Ashton Oaks Apartments, LLC, 13875 Cranbook Forest
Apartments, LLC, 5900 Crystal Springs Apartments, LLC, 7107 Las
Palmas Apartments, LLC, 11911 Park Texas Apartments, LLC, 1201
Oaks
of Brittany Apartments LLC, 3504 Mesa Ridge Apartments, LLC, 667
Maxey Village Apartments, LLC, 17103 Pine Forest Apartments, LLC,
7600 Royal Oaks Apartments, LLC, and 4101 Pointe Apartments, LLC
(collectively, the "H14 Portfolio Debtors"); and (3) The Oaks of
Stonecrest Apartments, LLC ("Oaks at Stonecrest")(the FX3
Portfolio
Debtors, the H14 Portfolio Debtors and Oaks at Stonecrest are
collectively referred as the "Property-Owning Debtors").

The FX3 Portfolio Debtors own 8 apartment projects in Texas,
Maryland, Virginia, and South Carolina, which properties total
1,850 housing units.  The H14 Portfolio Debtors own 14 apartment
projects in Texas, which consist of a total of 5,050 housing
units.
Oaks at Stonecrest owns a single apartment project in Lithonia,
Georgia, which has 280 housing units.

The Debtors have tapped Pachulski Stang Ziehl & Jones LLP, as
counsel and UpShot Services LLC as claims and noticing agent.


VISUALANT INC: Gets OK of Certificate of Designations Correction
----------------------------------------------------------------
Visualant, Incorporated, received on March 8, 2016, approval from
the State of Nevada for the Correction to the Company's Amended and
Restated Certificate of Designations, Preferences and Rights of its
Series A Convertible Preferred Stock, according to a regulatory
filing with the Securities and Exchange Commission.  The Amended
and Restated Certificate filed July 21, 2015, changed the
conversion price and the stated value from $0.10 (pre reverse stock
split) to $30.00 (post-reverse stock split), and adding a provision
adjusting the conversion price upon the occurrence of certain
events.  On Feb. 19, 2016, the holders of Series A Convertible
Preferred Stock entered into Amendment 2 of Series A Preferred
Stock Terms and increased the number of Preferred Stock Shares to
properly account for the reverse stock split.

In addition, on March 8, 2016, the Company received approval from
the State of Nevada for the Certificate of Designations of
Preferences, Powers, Rights and Limitations of Series B Redeemable
Convertible Preferred Stock.  The Certificate authorized 5,000
shares of Series B Preferred Stock at a par value of $.001 per
share that is convertible into common stock at $7.50 per share,
with certain adjustments as set forth in the Certificate.

                     About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on Oct. 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

Visualant reported a net loss of $2.63 million on $6.29 million of
revenue for the year ended Sept. 30, 2015, compared to a net loss
of $1.01 million on $7.98 million of revenue for the year ended
Sept. 30, 2014.

As of Dec. 31, 2015, the Company had $2.43 million in total assets,
$9.69 million in total liabilities, all current, and a total
stockholders' deficit of $7.25 million.

PMB Helin Donovan, LLP, in Seattle, Washington, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2015, citing that Company has sustained a
net loss from operations and has an accumulated deficit since
inception.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


WAINWRIGHT BROTHERS: 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 Wainwright Brothers Farms, LLC.

Wainwright Brothers Farms, LLC, sought protection under Chapter 11
of the Bankruptcy Code in the U.S. Bankruptcy Court for the Middle
District of Florida (Jacksonville) (Case No. 16-00112) on January
13, 2016. The petition was signed by Jason B. Wainwright, managing
member.

The Debtor is represented by Buddy D. Ford, Esq., at Buddy D. Ford,
P.A.

The Debtor disclosed total assets of $1.94 million and total debts
of $1.46 million.


WBY INC: 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 WBY, Inc.

WBY, Inc., sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. N.D. Ga. Case No. 16-52291) on February 5, 2016. The
Debtor is represented by Edward F. Danowitz Jr., Esq., at Danowitz
& Associates, PC.


WESTECH CAPITAL: Sec. 341 Creditors' Meeting Set for April 19
-------------------------------------------------------------
The U.S. Trustee will hold a meeting of creditors on April 19,
2016, in the Chapter 11 case of Westech Capital Corp., pursuant to
Section 341 of the Bankruptcy Code.

Westech Capital Corp (WTEC:OTC US) is a financial services holding
company. Its primary business operating subsidiary is Tejas
Securities Group, Inc.

Westech Capital Corp., fka Tejas, Inc., filed for Chapter 11
bankruptcy (Bankr. W.D. Tex. Case No. 16-10300) on March 14, 2016.
Stephen A. Roberts, Esq., at Strasburger & Price, serves as
counsel.  In its petition, Westech estimated $1 million to $10
million in both assets and liabilities.  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


WINDSOR FINANCIAL: ASICS Says Plan Patently Unconfirmable
---------------------------------------------------------
ASICS America Corporation, the athletic footwear and apparel maker
accused by ASICS stores operator Windsor Financial Group LLC of
fraud and misconduct, said Windsor is proposing a patently
unconfirmable plan, and as such, the disclosure statement
describing it should not be approved.

"The Debtor cannot show that its case or its plan of liquidation
was filed in good faith. The Debtor makes it clear that the entire
purpose of the case is to pursue claims against ASICS -- claims
that exist, if at all, independent of any bankruptcy filing and are
more properly pursued in the litigation pending in the United
States District Court for the Central District of California that
was stayed as a result of the Debtor's bankruptcy filing. Further,
the Debtor's plan violates numerous provisions of the Bankruptcy
Code," ASICS said in a court filing.

The Debtor has filed a motion for entry of an order (i)
conditionally approving the disclosure statement, (ii) approving
solicitation procedures, and (ii) scheduling a combined hearing on
the plan and disclosure statement on April 21.

ASICS asks the Court to deny the Motion.

"By its Motion, Windsor attempts to steamroll its creditors and
this Court by seeking approval of a disclosure statement that
contains woefully inadequate information regarding a plan that
exalts return to equity over fair treatment of creditors.  In order
to achieve this improper goal, the Debtor asks this Court to
establish oppressive voting and tabulation procedures meant to
disenfranchise creditors in the hope of thereby obtaining approval
of a patently unconfirmable plan.  The Debtor should not be
permitted to railroad this process, and the Motion should be denied
in its entirety," ASICS tells the Court.

ASICS avers that the Plan is not confirmable because:

  (a) The Plan has not been proposed in good faith.  The Debtor has
made it abundantly clear that the purpose of the case and the Plan
is to pursue litigation against ASICS; litigation that was already
well underway in the California District Court.  It is clear that
the Debtor filed this case in order to stay the California
Litigation and gain a litigation advantage over ASICS.

  (b) The Plan violates the "absolute priority rule".  Before
payment of any claims, the so-called $80,000 "Funding Loan" to be
made by insider Mickey Segal will be paid in full.  The "loan"
should actually be a capital contribution such that it should be
equitably subordinated to the claims of unsecured creditors.  In
addition, the Plan contemplates that the members of Class 5,
consisting of the Debtor's equity holders, will receive
distributions as outlined in section 5.4 of the Plan prior to the
payment in full of general unsecured creditors.  The Plan
contemplates that each holder of a general unsecured claim shall
receive its pro rata share of $1.5 million.  Once the $1.5 million
runs out, the equity holders would receive distributions,
regardless of whether holders of general unsecured creditors are
paid in full.

   (c) The Plan does not provide for the payment of administrative
claims in full.  Despite the clear mandate of the Bankruptcy Code,
the Plan does not guarantee that administrative claims will be paid
in full, even though they are not classified and the Debtor asserts
that they are unimpaired.

   (d) The Plan contains overbroad releases that run afoul of
Metromedia, 416 F.3d at 141.  The Debtor must provide specific
information regarding the entities to be released by the Plan's
provisions and explain how these non-debtor releases are
appropriate and comply with applicable law.

Counsel for ASICS America Corporation:

         Jeffry A. Davis, Esq.
         Kaitlin R. Walsh, Esq.
         MINTZ, LEVIN, COHN, FERRIS, GLOVSKY AND POPEO, P.C.
         666 Third Avenue
         New York, NY 10017
         Tel: 212-935-3000
         Fax: 212-983-3115
         E-mail: jadavis@mintz.com
                 krwalsh@mintz.com

                       The Liquidating Plan

As reported in the March 8, 2016 edition of the TCR, the Debtor
said it was forced to cease business by ASICS's wrongful conduct
and intends to use the chapter 11 process to sue ASICS for its
misconduct and fraud in the hopes of using those litigation
proceeds to provide a distribution to creditors and equity interest
holders.

The Plan provides for the distribution of the proceeds, if any,
from the litigation of certain claims the Debtor proposes to bring
against ASICS.  The $80,000 Funding Loan extended by Mickey Segal,
one of the Debtor's equity holders, used to fund the litigation
will be paid in full from the Litigation Proceeds before any
distributions are made under the Plan.  Upon repayment of the
Funding Loan in full, the remaining amount of the Litigation
Proceeds will be used to pay Allowed Administrative Claims, if any.
Upon payment of any Allowed Administrative Expense Claims, in
full, the remaining amount of the Net Litigation Proceeds will be
distributed under the Plan in accordance with the following
distribution scheme:

     first, to the Holders of Allowed Secured Claims, if any;
     second, to the Holders Allowed Priority Tax Claims, pro
            rata, provided that such Holders agree to such
            treatment under the Plan;
     third, to the Holders of Allowed General Unsecured Claims,
            pro rata, up to an aggregate amount of $1,500,000;
            and
     fourth, to Interest Holders, as set forth in the Plan.

The distribution of the cash proceeds to the Holders of Claims and
Interests will be in full and complete satisfaction of all claims
against the Debtor's Estate.

A full-text copy of the Disclosure Statement dated Jan. 27, 2016,
is available at http://bankrupt.com/misc/WFGds0127.pdf

                     About Windsor Financial

Windsor Financial Group LLC owned and operated ASICS retail stores
in the United States through a license agreement with ASICS America
Corporation.  It opened 13 ASICS retail stores -- including ASICS's
North American flagship store in Times Square
-- expanding ASICS's brand and presence in the United States.

On June 24, 2015, ASICS terminated Windsor's retail operating
agreement due to breach, including for failure to pay for
merchandise it purchased for resale.

On July 28, 2015, ASICS filed a complaint against Windsor in the
California District Court, Civil Action No. 8:15-cv-01194-JVS-JVM,
for injunctive relief and damages for the Debtor's breach of the
MRA, trademark infringement and unfair competition.  ASICS seeks
damages of no less than $5,753,096.

Windsor Financial Group filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 16-10097) on Jan. 15, 2016, intending to
use the chapter 11 process to sue ASICS for its misconduct and
fraud in the hopes of using those litigation proceeds to provide a
distribution to creditors and equity.

Armando Ruiz, the CEO, signed the bankruptcy petition.

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.

The meeting of creditors to be held pursuant to section 341(a) of
the Bankruptcy Code has been adjourned twice, and is scheduled to
take place March 24, 2016.


ZOGENIX INC: Posts $26.1 Million Net Income for 2015
----------------------------------------------------
Zogenix, Inc., filed with the Securities and Exchange Commission
its annual report on Form 10-K disclosing net income of $26.1
million on $27.2 million of total revenue for the year ended
Dec. 31, 2015, compared to net income of $8.58 million on $28.9
million of total revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Zogenix had $306 million in total assets, $123
million in total liabilities and $183 million in total
stockholders' equity.

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

                       http://is.gd/03Wvoj

                        About Zogenix Inc.

Zogenix, Inc. (NASDAQ: ZGNX), with offices in San Diego and
Emeryville, California, is a pharmaceutical company
commercializing and developing products for the treatment of
central nervous system disorders and pain.

                            *    *    *

This concludes the Troubled Company Reporter's coverage of Zogenix
Inc. until facts and circumstances, if any, emerge that
demonstrate financial or operational strain or difficulty at a
level sufficient to warrant renewed coverage.


[^] BOOK REVIEW: The Rise and Fall of the Conglomerate Kings
------------------------------------------------------------
Author:     Robert Sobel
Publisher:  Beard Books
Softcover:  240 pages
List Price: $34.95
Review by David Henderson

Order your personal copy today at http://is.gd/1GZnJk

The marvelous thing about capitalism is that you, too, can be a
Master of the Universe.  If you are of a certain age, you will
recall that is the name commandeered by Wall Street bond traders
in their Glory Days.  Being one is a lot like surfing: you have to
catch the crest of the wave just right or you get slammed into the
drink, and even the ride never lasts forever.  There are no
Endless Summers in the market.

This book is the behind-the-scenes story of the financial wizards
and bare-knuckled businessmen who created the conglomerates, the
glamorous multi-form companies that marked the high noon of post-
World War II American capitalism.  Covering the period from the
end of the war to 1983, the author explains why and how the
conglomerate movement originated, how it mushroomed, and what
caused its startling and rapid decline.  Business historian Robert
Sobel chronicles the rise and fall of the first Masters of the
Universe in the U.S. and describes how the era gave rise to a
cadre of imaginative, bold, and often ruthless entrepreneurs who
took advantage of a buoyant stock market to create giant
enterprises, often through the exchange of overvalued paper for
real assets.  He covers the likes of Royal Little (Textron), Text
Thornton (Litton Industries), James Ling (Ling-Temco-Vought),
Charles Bludhorn (Gulf & Western) and Harold Geneen (ITT).  This
is a good read to put the recent boom and bust in a better
perspective.

While these men had vastly different personalities and processes,
they had a few things in common: ambition, the ability to seize
opportunities that others were too risk-averse to take, willing
bankers, and the expansive markets of the 1960s.  There is
something about an expansive market that attracts and creates
Masters of the Universe.  The Greek called it hubris.

The author tells a good joke to illustrate the successes and
failures of the period.  It seems the young son of a
Conglomerateur brings home a stray mongrel dog.  His father asks,
"How much do you think it's worth?" To which the boy replies, "At
least $30,000." The father gently tries to explain the market for
mongrel dogs, but the boy is undeterred and the next afternoon
proudly announces that he has sold the dog for $50,000.  The
father is proudly flabbergasted,  "You mean you found some fool
with that much money who paid you for that dog?"  "Not exactly,"
the son replies, "I traded it for two $25,000 cats."

While it lasted, the conglomerate struggles were a great slugfest
to watch: the heads of giant corporations battling each other for
control of other corporations, and all of it free from the rubric
of "synergy."  Nobody could pretend there was any synergy between
U.S. Steel and Marathon Oil.  This was raw capitalist power at
work, not a bunch of fluffy dot.commies pretending to defy market
gravity.

History repeats itself, endlessly, because so few people study
history.  The stagflation of the 1970s devalued the stock of
conglomerates and made it useless a currency to keep the schemes
afloat.  The wave crashed and waiting on the horizon for the next
big wave: the LBO Masters of the 1980s.

Robert Sobel was born in 1931 and died in 1999.  He was a prolific
chronicler of American business life, writing or editing more than
50 books and hundreds of articles and corporate profiles.  He was
a professor of business history at Hofstra University for 43 years
and he a Ph.D. from NYU.


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

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S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2016.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

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