TCR_Public/160322.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, March 22, 2016, Vol. 20, No. 82

                            Headlines

ABENGOA BIOENERGY: Hires Alvarez & Marsal to Provide CRO
ADELPHIA COMMUNICATIONS: Amends Exchange Offers Under Ch.11 Plan
ADVANCE SPECIALTY: Case Summary & 7 Unsecured Creditors
ADVANCED INTERACTIVE: Claims Against Former Directors Dismissed
ALGECO SCOTSMAN: Moody's Puts 'B3' Ratings on Review for Downgrade

ALLIED FINANCIAL: Hires Jose Jimenez as Accountant
ALPHA NATURAL: Appoints Andy Eidson as New Chief Financial Officer
ALPHA NATURAL: Can Retain Alpha Natural as Special Counsel
ALPHA NATURAL: Committee Seeks Authority to Pursue Claims
ALPHA NATURAL: DIP Lenders Want Union Settlement by March 28

ALPHA NATURAL: Lenders Revise Liquidity, CapEx Covenants
ALPHA NATURAL: Philip Cavatoni Steps Down as CFO
ANNA'S LINENS: Wants to Covert Bankruptcy Case to Chapter 7
ARCH COAL: Files Bankruptcy Rule 2015.3 Report
ARCH COAL: Hires Davis Polk as Bankruptcy Counsel

ARCH COAL: Hires Ernst & Young as Auditor, Tax Advisor
ARCH COAL: Hires FTI Consulting as Financial Advisor
ATLANTIC & PACIFIC: CPO Claim Excused From Admin. Bar Date
ATLANTIC & PACIFIC: PBGC to Pay Pension Benefits for Retirees
ATNA RESOURCES: Seeks to Extend Removal Deadline to April 15

AXION INT'L: Bank Objects to Bidding Motion, Prefers Stay Relief
AXION INT'L: Community Bank Seeks Standing to Sue
AXION INT'L: Community Bank Wants Cases Converted to Chapter 7
BH SUTTON: 341 Meeting of Creditors Set for April 6
BLUE EARTH: Enters Chapter 11, to File Plan in 30 Days

BOOMERANG TUBE: 2nd Amended Joint Plan Declared Effective
BROWN MEDICAL: Bid to Dismiss Suit Against Hoffman Firm Granted
BUFFETS LLC: Hires Bridgepoint to Provide CRO
CASA MEDIA: Third Exclusivity Extension Request Granted
CHAMPION INDUSTRIES: Incurs $270,000 Net Loss in First Quarter

CHARTER FACILITIES: S&P Lowers Rating on $16.99MM Bonds to 'B-'
CLEVELAND BIOLABS: Provides Update on Pre-EUA Review of Entolimod
CONGREGATION BIRCHOS: Court to Hear Plan Confirmation March 24
CRAIG ENERGY: Chapter 11 Case Converted to Chapter 7
DANIER LEATHER: Makes Assignment Under Canada's BIA

DETECTOR EXPLORATION: Board Members Step Down After Receivership
DF SERVICING: Files Amended Schedules of Assets & Liabilities
DF SERVICING: Joint Administration of Cases Granted
DUCOMMUN INC: S&P Affirms 'B+' CCR, Outlook Remains Positive
EIDOS LLC: Rejects Stairway's Bid for Dismissal of Case

EVANS & SUTHERLAND: Incurs $1.27 Million Net Loss in 2015
FORESIGHT APPLICATIONS: Jury Trial in Suit vs. DRS to Begin Aug. 22
FORESIGHT ENERGY: S&P Lowers CCR to 'D' on Missed Interest Payment
FREEDOM COMMUNICATIONS: Court Approves Asset Sale to Digital First
FRONTIER STAR: Approval of Western Alliance Settlement Sought

FRONTIER STAR: Ch. 11 Trustee Seeks to Sell Assets for $40-Mil.
FUHU INC.: Removal Deadline Extended to July 5
FUHU INC: Ballard Spahr Approved as Committee's Delaware Counsel
FUHU INC: Panel Taps PricewaterhouseCoopers as Financial Advisor
FUHU INC: Taps 8020 Consulting as Interim Finance Consultant

GENESIS HEALTHCARE: S&P Puts Loan's 'B-' Rating on Watch. Positive
GEORGE ROBERT HANSON: Objection to FCB's $63.5K Claim Granted
GETTIG TECHNOLOGIES: Trustee Ordered to Pay AFC Funds to Court
GLOBAL COMPUTER: Seeks to Use Cash to Pay $293K in Expenses
GM FINANCIAL: Shifts Toward Improving Loan Quality, Moody's Says

GREAT LAKES COMNET: Everstream to Lead Auction; Bids Due April 22
GT ADVANCED: Completes Financial Restructuring; Exits Chapter 11
GT ADVANCED: Guizhou Haotian Appeals Claims Ruling
GT ADVANCED: Reorganization Plan Declared Effective March 17
HNO GREEN: Ordered to Explain Why Case Shouldn't Be Dismissed

HOVNANIAN ENTERPRISES: Stockholders Elect 7 Directors
HUDSON PRODUCTS: S&P Lowers CCR to 'CCC+', Outlook Negative
IMAGEWARE SYSTEMS: Reports $9.59 Million Net Loss in 2015
INT'L TECHNICAL: Judge Sets March 31 Deadline to File Admin Claims
INTELLIPHARMACEUTICS INT'L: Presented at Roth Conference

INTERLEUKIN GENETICS: Reports $7.89 Million Net Loss for 2015
INTERNATIONAL TECHNICAL: Has Final Order to Use Cash Collateral
INTERNATIONAL TEXTILE: Michael Gibbons Quits From Board
INTERPARK INVESTORS: Wants to Use Athene Annuity's Cash Collateral
INVENTIV HEALTH: Signs Separation Agreement With Michael Griffith

KALOBIOS PHARMA: Bankruptcy Loans Could Cut Shkreli's Holdings
LAKE TAHOE: Files Schedules of Assets and Liabilities
LAS AMERICAS: ALD Asks Court to Dismiss Ch. 11 Case
LAS AMERICAS: Wants ALD Enjoined from Prosecuting State Court Suit
LB STEEL: Can Use Cash Collateral Until April 8

MAGNETATION LLC: RSM US to Audit MAG Hourly Plan Financials
MAGNUM HUNTER: Delays Annual Report; Expects Drop in Revenues
MAGNUM HUNTER: Shen/Pantin Equity Holders Seeks Committee
MARINA BIOTECH: Microlin to Buy Nucleic Acid Therapeutic Assets
MARINA BIOTECH: Signs License Agreement for Genome Editing Tech

MDC PARTNERS: S&P Assigns 'B+' Rating on Proposed Sr. Unsec. Notes
METROPOLITAN AUTOMOTIVE: $23M Sale to Parts Authority Metro Okayed
METROPOLITAN AUTOMOTIVE: $7.5M DIP Financing From Buyer Approved
METROPOLITAN AUTOMOTIVE: BOTW OKs $1.5M Carve-Out from Proceeds
MID-STATES SUPPLY: SSG and Frontier Okayed as Investment Bankers

MILWAUKEE ACADEMY: S&P Lowers Rating on $12MM 2013 Bonds to BB+
MJC AMERICA: Hires Eric Stone as Special Litigation Counsel
MODULAR SPACE: Moody's Puts 'Caa2' Ratings on Review for Upgrade
MOLYCORP INC: Credit Bid Must be Accepted, Noteholders Argue
MOMENTIVE PERFORMANCE: Moody's Cuts Corp Family Rating to Caa1

MUSCLEPHARM CORP: CEO Steps Down; Interim CEO and President Named
MUSCLEPHARM CORP: Delays 2015 Form 10-K Filing
NEIMAN MARCUS: S&P Revises Outlook to Negative & Affirms 'B-' CCR
NEWFIELD EXPLORATION: S&P Lowers CCR to 'BB+', Off Neg. CreditWatch
NORTHWEST PEDIATRIC: Case Summary & 20 Top Unsecured Creditors

NUO THERAPEUTICS: Files Schedules of Assets and Liabilities
NUO THERAPEUTICS: Has Court's Final OK to Pay Critical Vendors
NUO THERAPEUTICS: Key Employee Incentive, Retention Plans Get OK
NUO THERAPEUTICS: Proposes April 25 Plan, Outline Hearing
NUO THERAPEUTICS: Unsecureds to Get 95% to 100% Under Ch. 11 Plan

NUVERRA ENVIRONMENTAL: S&P Lowers Corp. Credit Rating to 'SD'
ON SEMICONDUCTOR: Upsized Debt No Impact on Moody's 'Ba2' CFR
OSAGE EXPLORATION: Gets Court OK to Hire Crowe & Dunlevy
OUTER HARBOR: Proposes Ritchie Bros. to Auction Equipment
OUTER HARBOR: Schedules $103M in Assets, $370M in Debt

PARAGON OFFSHORE: Hires Richards Layton as Co-counsel
PARAGON OFFSHORE: Taps Norton Rose as Special Compliance Counsel
PARAGON OFFSHORE: Wants AlixPartners as Restructuring Advisor
PARALLEL ENERGY: UST Objects to Releases in Dismissal Motion
PEABODY ENERGY: Had $1.99B Loss in 2015, Expects More Losses

PEABODY ENERGY: Warns of Possible Bankruptcy Filing
PENINSULA HOSPITAL: BDO USA Allowed to Provide Additional Services
PLEASE TOUCH MUSEUM: Wins Confirmation of Amended Exit Plan
PRIME GLOBAL: Needs More Time to File Jan. 31 Form 10-Q
QUANTUM FUEL: Needs More Time to File 2015 Annual Report

QUICKSILVER RESOURCES: Has Until May 16 to File Ch. 11 Plan
RANDALL BLANCHARD: Court Rejects IFA's Administrative Claim
RAZA SERVICES: Court Denies Bank's Bid to Dismiss Ch. 11 Case
RCS CAPITAL: Amends Plan Outline to Address Objections
RELATIVITY MEDIA: Court Issues Ch. 11 Plan Confirmatory Finding

RESIDENTIAL CAPITAL: Coopers' Claim No. 6270 Disallowed
RIVER CITY: Judge Extends Deadline to Remove Suits to June 24
RND ENGINEERING: Court Allows Nagel's Claims for $1.12-Mil.
RYCKMAN CREEK: Judge Approves Deadlines to File Proofs of Claim
SAMSON RESOURCES: Can Implement Incentive and Severance Program

SAMSON RESOURCES: Can Implement Performance Award Program
SANDRIDGE ENERGY: Delays Filing of 2015 Form 10-K
SANDRIDGE ENERGY: Pays $50.1 Million Interest on Senior Notes
SANDRIDGE ENERGY: S&P Raises CCR to 'CCC-', Outlook Negative
SANDY CREEK: Moody's Lowers Senior Secured Rating to 'B2'

SCHOOLMAN TRANSPORTATION: Case Summary & 20 Top Unsec. Creditors
SDI SOLUTIONS: Meeting to Form Creditors' Panel Set for March 24
SEARS HOLDINGS: Incurs $1.12 Billion Net Loss in 2015
SEOUL PRESBYTERIAN: Voluntary Chapter 11 Case Summary
SFS LTD: Exclusive Right to File Plan Extended to April 11

SFX ENTERTAINMENT: Has Final Authority to Obtain $87.6MM DIP Loan
SFX ENTERTAINMENT: RSA an Insider Transaction, WPP Complains
SFX ENTERTAINMENT: Seeks Approval of Proposed NCU KEIP, KERP
SILVER SPRING: Kotlarsky Appeal from Atty Fee Order Remanded
SPIRIT AEROSYSTEMS: S&P Raises Corp. Credit Rating From 'BB'

SPORTS AUTHORITY: 341 Meeting of Creditors Set for March 29
SPORTS AUTHORITY: Gets Interim OK to Start Closing Store Sales
SWIFT ENERGY: Weatherford Resigns from Creditors' Committee
TERRA ENERGY: Receives CWB Demand Letter; Ceases Operations
THEA BOWMAN: S&P Puts Bonds' 'B-' Rating on CreditWatch Negative

USA DISCOUNTERS: Needs Until June 20 to File Ch. 11 Plan
VALEANT PHARMA: Struggles Could Lead Company to Crumble
VANGUARD NATURAL: Moody's Cuts Corporate Family Rating to 'Caa3'
VARIANT HOLDING: Greenberg Traurig Okayed as Transactional Counsel
VARIANT HOLDING: Seeks to Extend Removal Period to July 11

VENOCO INC: Files Chapter 11 Petition to Facilitate Restructuring
VENOCO INC: Wants to Pay $250,000 Critical Vendor Claims
VERITEQ CORP: Incurs $12.1 Million Net Loss in Third Quarter
WHISKEY ONE: Court Denies FAIRMD's Bid to Strike DIP Line
ZUCKER GOLDBERG: Examiner Retains Cole Schotz as Counsel

[*] Foreign Central Banks Sold $57.2B in U.S. Debt in January
[*] Moody's Says HY Investors Demands Protection as Market Tightens
[*] Moody's Says Speculative-Grade Chemical Firms to Face Challenge
[*] Temporary Bankruptcy Judgeships Urged to Be Made Permanent
[^] Large Companies with Insolvent Balance Sheet


                            *********

ABENGOA BIOENERGY: Hires Alvarez & Marsal to Provide CRO
--------------------------------------------------------
Abengoa Bioenergy US Holding, LLC and its debtor-affiliates seek
authorization from the U.S. Bankruptcy Court Eastern District of
Missouri to employ Alvarez & Marsal North America, LLC to provide
William H. Runge III as Chief Restructuring Officer and certain
Additional Personnel, nunc pro tunc to February 24, 2016

The Debtors require Alvarez & Marsal to:

   (a) perform a financial review of the Debtors, including but
       not limited to a review and assessment of financial
       information that has been, and that will be, provided by
       the Debtors to their creditors, including without
       limitation their short and long-term projected cash flows
       and operating performance;

   (b) identify cost reduction and operations improvement
       opportunities;

   (c) assist the CEO and other Company engaged professionals in
       developing for the Board of Director's review possible
       restructuring plans or strategic alternatives for
       maximizing the enterprise value of the Company's various
       business lines;

   (d) the CRO serving as the principal contact with the Company's

       creditors with respect to the Company's financial and
       operational matters;

   (e) assist in discussions with, and provide information to,
       potential investors, secured lenders, official committees,
       the Office of the United States Trustee for the Eastern
       District of Missouri, each as deemed necessary and
       appropriate by the Debtors;

   (f) assist the overall financial reporting division in managing

       the administrative requirements of the Bankruptcy Code,
       including post-petition reporting requirements and claim
       reconciliation efforts;

   (g) assist the Debtors and their other advisors in developing
       restructuring plans or strategic alternatives for
       maximizing the enterprise value of their various business
       lines; and

   (h) perform such other services as requested or directed by the

       Board or other Company personnel, as authorized by the
       Board and agreed to by Alvarez & Marsal, that is not
       duplicative of work other professionals are performing
       for the Debtors.

Alvarez & Marsal will be paid at these hourly rates:

       Restructuring Advisory
       ----------------------

       Managing Directors            $775-$975
       Directors                     $600-$750
       Analysts/Associates           $375-$575

       Claims Management Services
       --------------------------

       Managing Directors            $675-$775
       Directors                     $500-$650
       Analysts/Consultants          $325-$500

In addition, upon the earlier of confirmation of a Plan of
Reorganization or upon successful completion of the sale of
substantially all of the Debtors' assets, Alvarez & Marsal shall be
entitled to a completion fee equal to 20% of hourly fees billable
to the Company associated with services provided from February 11,
2016 through the date on which such Completion Fee comes due.

Alvarez & Marsal will also be reimbursed for reasonable
out-of-pocket expenses incurred.

The Debtors have remitted to Alvarez & Marsal a retainer in the
amount of $225,000, which shall be credited against any amounts due
at the termination of this engagement and returned upon the
satisfaction of all obligations.

William H. Runge, III, managing director of Alvarez & Marsal,
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.

Alvarez & Marsal can be reached at:

       William H. Runge, III
       ALVAREZ & MARSAL NORTH AMERICA, LLC
       Monarch Tower
       3424 Peachtree Road NE, Suite 1500
       Atlanta, GA 30326
       Tel: (404) 260-4040
       Fax: (404) 260-4090

                      About Abengoa Bionergy

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

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

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

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

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

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



ADELPHIA COMMUNICATIONS: Amends Exchange Offers Under Ch.11 Plan
----------------------------------------------------------------
ACC Claims Holdings, LLC announced the amendment of offers to
Eligible Holders to exchange (i) class A limited liability company
interests of ACC Claims Holdings, LLC for up to all of the
outstanding ACC Senior Notes Claims (Class ACC 3) allowed under the
Plan of Reorganization, including any post-petition pre-effective
date interest and post-effective date interest to and including the
expiration date of the offers (the "Senior Claims"), against
Adelphia Communications Corporation, and (ii) class B limited
liability company interests of ACC Claims Holdings, LLC for up to
all of the outstanding ACC Trade Claims (Class ACC 4) allowed under
the Plan of Reorganization, including any post-petition
pre-effective date interest and post-effective date interest to and
including the expiration date of the offers (the "ACC 4 Claims"),
and ACC Other Unsecured Claims (Class ACC 5) allowed under the Plan
of Reorganization, including any post-petition pre-effective date
interest and post-effective date interest to and including the
expiration date of the offers (the "ACC 5 Claims" and, together
with the ACC 4 Claims, the "Other Claims"; the Senior Claims and
the Other Claims, together, the "Claims"), against Adelphia
Communications Corporation.  The exchange offers are being made
pursuant to the offers to exchange and the related letter of
transmittal, each dated as of March 3, 2016 and supplemented and
amended on the date hereof.  The exchange offers will expire at
5:00 p.m., New York City time, on March 31, 2016, unless extended
(the "Expiration Date").  This Expiration Date is not being changed
under the terms of the supplement and amendment. Eligible Holders
of Senior Claims that are validly tendered and not withdrawn on or
prior to the Expiration Date and accepted for exchange will receive
consideration in the form of class A limited liability company
interests in ACC Claims Holdings, LLC, as described in the offers
to exchange.  Eligible Holders of Other Claims that are validly
tendered and not withdrawn on or prior to the Expiration Date and
accepted for exchange will receive consideration in the form of
class B limited liability company interests in ACC Claims Holdings,
LLC, as described in the offers to exchange.

The exchange offers will only be made, and the offers to exchange
and the related letter of transmittal will only be distributed to,
holders who complete, execute and return an eligibility form
confirming that they are qualified purchasers ("Qualified
Purchasers") as defined in Section 2(a)(51)(A) of the Investment
Company Act of 1940, as amended (except to the extent waived by the
managing member of ACC Claims Holdings, LLC), excluding Benefit
Plan Investors (except as provided for and subject to the terms of
the exchange offers, as amended), each of which is (x) a qualified
institutional buyer within the meaning of Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), (y) an
institutional investor that qualifies as an "accredited investor"
pursuant to Rule 501(a)(1), (2), (3) or (7) under the Securities
Act or (z) not a U.S. person in an offshore transaction, in each
case as defined in Regulation S under the Securities Act (such
persons, "Eligible Holders").  "Benefit Plan Investor" means a
benefit plan investor, as defined in Section 3(42) of the Employee
Retirement Income Security Act of 1974, as amended ("ERISA"), and
includes (a) an employee benefit plan (as defined in Section 3(3)
of Title I of ERISA) that is subject to the fiduciary
responsibility provisions of Title I of ERISA, (b) a plan that is
subject to Section 4975 of the Internal Revenue Code of 1986, as
amended (the "Code"), or (c) any entity whose underlying assets
include, or are deemed for purposes of ERISA or the Code to
include, "plan assets" by reason of any such employee benefit
plan's or plan's investment in the entity.  Holders who desire to
obtain and complete an eligibility form should either visit the
website for this purpose at www.dfking.com/adelphia or call D.F.
King & Co., Inc., the information agent and exchange agent for the
exchange offers, at (800) 761-6523 (toll-free) or (212) 269-5550
(collect for banks and brokers only).

The managing member of ACC Claims Holdings, LLC may, in its sole
discretion, waive the restriction on tenders by Benefit Plan
Investors.  However, the managing member is not required to accept
a tender in whole or in part from an investor that is a Benefit
Plan Investor, and reserves the right to reject in its complete
discretion any tender by a Benefit Plan Investor.

This press release is neither an offer to purchase or exchange nor
a solicitation of an offer to sell or exchange securities.  The
exchange offers are being made pursuant to the terms and conditions
contained in the offers to exchange and the related letter of
transmittal, copies of which may be obtained from D. F. King & Co.,
Inc., the information agent and exchange agent for the exchange
offers, by telephone at (800) 761-6523 (toll-free) or at (212)
269-5550 (collect for banks and brokers only) or in writing at D.
F. King & Co., Inc., 48 Wall Street, 22nd Floor, New York, New York
10005, Attention: Krystal Scrudato. Persons with questions
regarding the exchange offers should contact Deutsche Bank
Securities Inc., the dealer manager for the exchange offers, by
telephone at (855) 287-1922 (toll-free) or 212-250-7527 (collect).
The exchange offers are not being made to holders in any
jurisdiction in which the making of such offers would be unlawful
under applicable state securities, or "blue sky" laws, or
applicable securities laws of any other jurisdiction.

ACC Claims Holdings, LLC is a Delaware limited liability company
formed on November 18, 2015.  ACC Claims Holdings, LLC exists
solely for the purpose of liquidating the claims and distributing
the proceeds thereof to the holders of its limited liability
company interests.  ACC Claims Holdings, LLC does not conduct a
trade or business or engage in any transactions other than
transactions merely incidental to (i) liquidation of claims,
whether by sale, transfer or other disposition by ACC Claims
Holdings, LLC or the claims held thereby, or be merger,
consolidation or other reorganization of ACC Claims Holdings, LLC,
or otherwise, and (ii) its dissolution.  

                   About Adelphia Communications

Based in Coudersport, Pennsylvania, Adelphia Communications
Corporation was once the fifth-biggest cable company.  Adelphia
served customers in 30 states and Puerto Rico, and offered analog
and digital video services, Internet access and other advanced
services over its broadband networks.

Adelphia collapsed in 2002 after disclosing that founder John Rigas
and his family owed $2.3 billion in off-balance-sheet debt on bank
loans taken jointly with the company.  Mr. Rigas was sentenced to
12 years in prison, while son Timothy 15 years.

Adelphia Communications and its more than 200 affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 02-41729) on
June 25, 2002.  Willkie Farr & Gallagher represented the Debtors
in their restructuring effort.  PricewaterhouseCoopers served as
the Debtors' financial advisor.  Kasowitz, Benson, Torres &
Friedman LLP and Klee, Tuchin, Bogdanoff & Stern LLP represented
the Official Committee of Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas-Managed Entities, were
entities that were previously held or controlled by members of the
Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision LLC.  The RME Debtors filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-10642) on March 31,
2006.  Their cases were jointly administered under Adelphia
Communications and its debtor-affiliates' Chapter 11 cases.

The Bankruptcy Court confirmed the Debtors' Joint Chapter 11 Plan
of Reorganization on Jan. 5, 2007.  The Plan became effective on
Feb. 13, 2007.

The Adelphia Recovery Trust, a Delaware Statutory Trust, was formed
pursuant to the Plan.  The Trust holds certain litigation claims
transferred pursuant to the Plan against various third parties and
exists to prosecute the causes of action transferred to it for the
benefit of holders of Trust interests.  Lawyers at Kasowitz,
Benson, Torres & Friedman, LLP (NYC), represent the Adelphia
Recovery Trust.


ADVANCE SPECIALTY: Case Summary & 7 Unsecured Creditors
-------------------------------------------------------
Debtor: Advance Specialty Care, LLC
        3470 Wilshire Boulevard, Suite 600
        Los Angeles, CA 90010

Case No.: 16-13521

Chapter 11 Petition Date: March 19, 2016

Court: United States Bankruptcy Court
       Central District of California (Los Angeles)

Judge: Hon. Robert N. Kwan

Debtor's Counsel: Raymond H Aver, Esq.
                  LAW OFFICES OF RAYMOND H AVER APC         
                  1950 Sawtelle Blvd Ste 120
                  Los Angeles, CA 90025
                  Tel: 310-473-3511
                  Fax: 310-473-3512
                  E-mail: ray@averlaw.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Moises L. Simbulan, chief financial
officer.

A list of the Debtor's seven largest unsecured creditors is
available for free at http://bankrupt.com/misc/cacb16-13521.pdf


ADVANCED INTERACTIVE: Claims Against Former Directors Dismissed
---------------------------------------------------------------
Judge Robert S. Lasnik of the United States District Court for the
Western District of Washington, Seattle, denied Michael Allen's
motion for summary judgment and dismissed the claims against
Zechariah Clifton Dameron IV and Daniel Standen with prejudice.

Allen was the interim Chief Financial Officer of Advanced
Interactive Systems, Inc., between April 2010 and March 2013.  His
employment offer included three months pay in lieu of notice as a
condition for a complete release if his employment were
involuntarily terminated for anything other than gross misconduct.

When his employment was terminated upon the filing of AIS'
bankruptcy petition, Allen asserted a Washington Rebate Act claim
seeking to recover the principal amount of $84,175.21 plus
exemplary damages and prejudgment interest.  Allen alleged that he
was owed unpaid wages, benefits, and a severance payment at the
time AIS filed for Chapter 7 bankruptcy protection.  The individual
defendants Standen and Dameron were members of AIS' Board of
Directors.

Judge Lasnik found that the filing of the bankruptcy petition
simultaneously terminated both Allen's and the individual
defendants' employment with AIS.  Thus, when Allen's claim to over
$75,000 in severance and vacation pay accrued, Standen and Dameron
no longer had the power or authority to decide whether to pay or
not to pay.  Judge Lasnik therefore concluded that Standen and
Dameron cannot be held personally liable for the failure to pay
wages that were neither "earned" nor due at the time they left the
company.

As to Allen's wages, Judge Lasnik also found that the defendants
did not have the authority to pay Allen's wages on the date they
came due.  Nor did they make the decision to withhold or refuse to
pay the wages that had already been earned.  Thus, the judge
concluded that there was no wilful and intentional deprivation of
Allen's wages for purposes of the WRA.

The case is MICHAEL ALLEN, Plaintiff, v. ZECHARIAH CLIFTON DAMERON
IV, et al., Defendants, No. C14-1263RSL (W.D. Wash.).

A full-text copy of Judge Lasnik's March 3, 2016 order is available
at http://is.gd/ENqZjTfrom Leagle.com.

Mike Allen is represented by:

          Steven Bert Frank, Esq.
          Michael C Subit, Esq.
          FRANK FREED SUBIT & THOMAS
          705 2nd Avenue, Suite 1200
          Seattle, WA 98104
          Email: sfrank@frankfreed.com
                 msubit@frankfreed.com

Zechariah Clifton Dameron IV, Daniel Standen are represented by:

          A Robert Fischer, Esq.
          Karen P Kruse, Esq.
          Megan Burrows Carpenter, Esq.
          JACKSON LEWIS PC
          816 Congress Avenue, Suite 1530
          Austin, TX 78701
          Tel: (512)362-7100
          Fax: (512)362-5574
          Email: fischera@jacksonlewis.com
                 karen.kruse@jacksonlewis.com
                 megan.carpenter@jacksonlewis.com

John Rigas is represented by:

          Karen P Kruse, Esq.
          Megan Burrows Carpenter, Esq.
          JACKSON LEWIS PC
          816 Congress Avenue, Suite 1530
          Austin, TX 78701
          Tel: (512)362-7100
          Fax: (512)362-5574
          Email: karen.kruse@jacksonlewis.com
                 megan.carpenter@jacksonlewis.com

Steven Kalmanovitz is represented by:

          Mario A Bianchi, Esq.
          LASHER HOLZAPFEL SPERRY & EBBERSON
          601 Union St., Suite 2600
          Seattle, WA 98101-4000
          Tel: (206)624-1230
          Fax: (206)340-2563
          Email: bianchi@lasher.com

                    About Advanced Interactive Systems

Seattle-based Advanced Interactive Systems Inc. designed and built
simulators for the military and police.  The simulators provide
training in the use of weapons combating terrorism or crime.  AIS
had revenue of $14.7 million in 2011, declining to $7.2 million in
2012.

Advanced Interactive halted operations and filed a Chapter 7
petition (Bankr. D. Del. Case No. 13-10517) on March 14, 2013.
The Debtor is represented by Jason M. Madron, Esq., at Richards,
Layton & Finger, P.A.

Advanced Interactive disclosed assets of $24.2 million and
liabilities totaling $72.7 million, including $21.6 million in
secured debt.  From the secured debt, $21 million is owing to
Kayne Anderson Mezzanine Advisors LP.

The bankruptcy trustee has a court-approved settlement with Kayne
Anderson where some sale proceeds will go to unsecured creditors.


ALGECO SCOTSMAN: Moody's Puts 'B3' Ratings on Review for Downgrade
------------------------------------------------------------------
Moody's Investors Service placed Algeco Scotsman Global S.A.R.L.'s
("Algeco") corporate family rating of B3 and Algeco Scotsman Global
Finance Plc's senior secured rating of B3 and senior unsecured
rating of Caa2 on review for downgrade.

RATINGS RATIONALE

"The rating action follows Algeco's announcement that it has
entered into a conditional agreement with Modular Space Corporation
("ModSpace", senior secured rating Caa2 on review for upgrade),
whereby Algeco will sell its North American modular space business
to ModSpace for consideration that we expect to include a
combination of ModSpace shares and cash. Algeco will retain its
European and Asia Pacific businesses, as well as its remote
accommodation business, which has presence in Asia Pacific and
Americas. The transaction, which is subject to a number of
conditions, including regulatory approvals, is expected to close in
the second or third quarter of 2016.”

Upon the transaction close, Algeco will own approximately one-half
of the equity in ModSpace, and existing ModSpace shareholders will
own the remainder. Algeco will also receive additional cash
consideration of an as yet undisclosed amount, reflecting its
relatively larger business comprised of approximately 80,000
modular space units compared to ModSpace's fleet of approximately
70,000 units. Algeco intends to use some of the transaction
proceeds to pay a portion of the outstanding balance under its
asset based lending (ABL) facility.

Despite the planned debt paydown, Algeco expects its leverage to
increase after the merger. Moody's believes that the increase in
leverage will reflect the reduction in Algeco's EBITDA post
closing, given that the company's North American modular space
business currently accounts for at least 30% of its adjusted
EBITDA, Moody's estimates. Algeco's leverage, based on trailing
twelve-month EBITDA, was approximately 10x as of September 30,
2015, based on Moody's calculations.

During the review, Moody's will assess the future profitability of
Algeco's remaining franchise, its pro-forma leverage and ability to
de-lever, as well as its liquidity profile. Moody's will also
evaluate the capital structure, liquidity, operating efficiency,
and expected earnings of ModSpace, in which Algeco will own an
approximately 50% equity stake. With the transaction, a substantial
part of Algeco's assets will be contributed to ModSpace's entity
and therefore will no longer be available to Algeco's creditors.
However, the value of Algeco's equity stake in ModSpace, although
illiquid, will provide support to the company's creditors.

Algeco's ratings would be downgraded if Moody's determines that
Algeco's profitability will not meaningfully improve from current
levels and if it determines that the company will not be able to
de-lever to at least 6x, based on Moody's calculations, in the next
four quarters following the transaction close. Ratings would also
be downgraded if Algeco's liquidity profile deteriorates
post-merger.

Ratings could be confirmed if Moody's concludes that Algeco will be
able to reduce its leverage to at least 6x in the next year after
the merger, if it demonstrates a path to improved profitability,
and if it improves its liquidity profile for the remaining
businesses.


ALLIED FINANCIAL: Hires Jose Jimenez as Accountant
--------------------------------------------------
Allied Financial, Inc., asks the U.S. Bankruptcy Court for the
District of Puerto Rico for permission to employ Jose Jimenez, CPA,
CVA, CIRA, of Jimenez Vazquez & Associates, PSC, as accountant.

Mr. Jimenez agreed to perform these tasks for the Debtor:

   1. assist in gathering and compiling the necessary information
required to file the Chapter 11 petition and court required
information and schedules;

   2. provide consulting services and assist the Debtor and her
attorney in documenting the reorganization plan to be filled in the
case;

   3. prepare monthly operating reports, prepare financial projects
and other relevant information as required and necessary;

   4. prepare all necessary tax returns to ascertain Debtor is in
full compliance with her fiscal responsibilities;

   5. assist the Debtor and her attorney in all matters related to
court instructions, transactions, and or information requests of an
accounting or financial nature.

The Debtor will pay Mr. Jimenez at $145 per hour.  Mr. Jimenez also
required a retainer of $4,000 and will paid upon approval of the
application for employment.

To the best of the Debtor's knowledge, Mr. Jimenez and the firm are
"disinterested" as that term is defined in Section 101(14) of the
Bankruptcy Code.

Mr. Jimenez can be reached at:

         Jose Jimenez
         JIMENEZ VAZQUEZ & ASSOCIATES, PSC
         Calle 8 D-1 Valparaiso
         Toa Baja, P.R.  
         P.O. Box 3774, Bayanon, PR
         Tel: (787) 447-0098
         Fax: (939) 338-2362

                     About Allied Financial

Allied Financial, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D. Puerto Rico Case No. 16-00180) on Jan. 15, 2016.
The petition was signed by Rafael Portela as president of the Board
of Directors.  The Debtor disclosed total assets of $10.28 million
and total debts of $9.14 million.  C. Conde & Assoc. represents the
Debtor as counsel.  Mildred Caban Flores has been assigned the
case.



ALPHA NATURAL: Appoints Andy Eidson as New Chief Financial Officer
------------------------------------------------------------------
Alpha Natural Resources, Inc. on March 18 disclosed that Andy
Eidson, Senior Vice President for Strategy and Business
Development, will assume additional duties as the CFO.  Mr. Eidson,
who has served in his current position since December 2015 and in
other positions with Alpha since 2010, will join Alpha's Management
Committee in the expanded role of Executive Vice President and
Chief Financial Officer.

Mr. Eidson will succeed Philip Cavatoni, who informed the company
of his intention to resign his position as Chief Financial and
Strategy Officer, effective March 23, to pursue another employment
opportunity outside of the coal industry.  Mr. Eidson's appointment
will be effective on that date.

"Andy has excelled in his prior positions at Alpha and I'm
confident his experience, energy, and talent will ensure a smooth
transition in his new role," said Alpha's Chairman and CEO Kevin
Crutchfield.   "As Alpha continues to navigate its restructuring
process, emerging leaders like Andy will be vital in shaping the
organization's future."

Mr. Eidson previously served as Vice President, Mergers and
Acquisitions at Alpha.  Prior to joining the Company in July 2010,
Mr. Eidson worked in several financial positions across industry
sectors, including at PricewaterhouseCoopers LLP, Eastman Chemical
Company, and most recently Penn Virginia Resource Partners, where
he led mergers and acquisitions projects for the coal segment and
managed the budgeting and planning process.  Mr. Eidson holds a
bachelor of science degree, cum laude, in commerce and business
administration from the University of Alabama and a master of
business administration degree from Milligan College.  

Mr. Cavatoni has been with the company since 2009 and previously
served as Executive Vice President and Chief Strategy Officer, as
well as Treasurer and Executive Vice President, Finance and
Strategy, before assuming the CFO role in March 2015.    

"Phil's strategic thinking and financial acumen have been valuable
assets to Alpha over the past seven years," said Mr. Crutchfield.
"We wish him much success in his next endeavor."

Alpha and certain of its wholly-owned subsidiaries filed voluntary
petitions to reorganize under Chapter 11 of the United States
Bankruptcy Code on August 3, 2015.  

                  About Alpha Natural Resources

Headquartered in Bristol, Virginia, Alpha Natural,
http://www.alphanr.com-- is a coal supplier, ranked second largest
among publicly traded U.S. coal producers as measured by 2014
consolidated revenues of $4.3 billion.  As of August 2015, Alpha
had 8,000 full time employees across many different states, with
UMWA representing 1,000 of the employees.

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of June
30, 2015, and $7.3 billion in total liabilities as of June 30,
2015.

The petitions were signed by Richard H. Verheij, executive vice
president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the cases.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel. Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment
banker.

Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

The U.S. Trustee for Region 4 appointed seven creditors of Alpha
Natural Resources Inc. to serve on the official committee of
unsecured creditors.  Dennis F. Dunne, Esq., Evan R. Fleck, Esq.,
and Eric K. Stodola, Esq., at Milbank, Tweed, Hadley & McCloy LLP;
and William A. Gray, Esq., W. Ashley Burgess, Esq., and Roy M.
Terry, Jr., Esq. at Sands Anderson PC, represent the Committee.

                       *     *     *

Alpha Natural Resources, Inc. on March 8 disclosed that it has
filed a proposed Chapter 11 Plan of Reorganization and a related
Disclosure Statement with the United States Bankruptcy Court for
the Eastern District of Virginia.  Together with the recently-filed
motion seeking approval of a marketing process for Alpha's core
operating assets, these filings provide for the sale of Alpha's
assets, detail a path toward the resolution of all creditor claims,
and anticipate the emergence of a streamlined and sustainable
reorganized company able to satisfy its environmental obligations
on an ongoing basis.  By selling certain assets as a going concern
and restructuring the company's remaining assets into a reorganized
Alpha, the company is able to provide maximum recovery to its
creditors, while preserving jobs and putting itself in the best
position to meet its reclamation obligations.  This path will allow
for a conclusion of Alpha's bankruptcy proceedings by June 30,
2016.


ALPHA NATURAL: Can Retain Alpha Natural as Special Counsel
----------------------------------------------------------
U.S. Bankruptcy Judge Kevin R. Huennekens has authorized Alpha
Natural Resources, Inc., to employ Cleary Gottlieb Steen & Hamilton
LLP as special counsel for certain corporate and litigation matters
effective as of Dec. 17, 2015.

Cleary Gottlieb will represent the Debtors in legal, non-bankruptcy
matters as the Debtors may request, including, among other things:

   (a) disclosure and corporate governance matters, including
reporting under the Securities Exchange Act of 1934, as amended,
and requirements of the Securities and Exchange Commission;

   (b) the derivative litigation captioned California State
Teachers' Retirement System et al. v. Blankenship et al.; and

   (c) litigation proceedings relating to the acquisition of
Massey
Energy Company and its affiliates and related Delaware derivative
litigation.

Luke A. Barefoot, Esq., a partner in Cleary Gottlieb, tells the
Court that the hourly rates of the firm's personnel are:

      Billing Category                         U.S. Range
      ----------------                         ----------
      Partners                                 $885 - $1,210
      Senior Counsel                                  $1,210
      Counsel                                  $815 - $1,005
      Senior Attorneys                         $795 -   $930
      Associates                               $465 -   $785
      International Lawyers                             $410
      Law Clerks                                        $375
      Paralegals                               $255 -   $345

The Debtors paid Cleary Gottlieb's invoices in the ordinary course
of business during the last twelve months, including in respect of
the representative matters.  In the same period, the Debtors have
paid Cleary Gottlieb, in the aggregate, $6,128,163.  Of the
amount,
$1,330,450 was received by Cleary Gottlieb during the 90 days
before the Petition Date.

Mr. Barefoot assures the Court that Cleary Gottlieb does not
represent or hold any interest adverse to the Debtors with respect
to matters on which Cleary Gottlieb is to be retained and employed
in the cases.

                   About Alpha Natural Resources

Headquartered in Bristol, Virginia, Alpha Natural --
http://www.alphanr.com/-- is a coal supplier, ranked second  
largest among publicly traded U.S. coal producers as measured by
2014 consolidated revenues of $4.3 billion.  As of August 2015,
Alpha had 8,000 full time employees across many different states,
with UMWA representing 1,000 of the employees.

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of June
30, 2015, and $7.3 billion in total liabilities as of June 30,
2015.  

The petitions were signed by Richard H. Verheij, executive vice
president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the cases.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel.  Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment
banker.

Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

The U.S. Trustee for Region 4 appointed seven creditors of Alpha
Natural Resources Inc. to serve on the official committee of
unsecured creditors.  Dennis F. Dunne, Esq., Evan R. Fleck, Esq.,
and Eric K. Stodola, Esq., at Milbank, Tweed, Hadley & McCloy LLP;
and William A. Gray, Esq., W. Ashley Burgess, Esq., and Roy M.
Terry, Jr., Esq. at Sands Anderson PC, represent the Committee.


ALPHA NATURAL: Committee Seeks Authority to Pursue Claims
---------------------------------------------------------
The Official Committee of Unsecured Creditors in Alpha Natural
Resources, Inc.'s case asks the Bankruptcy Court for authority to
prosecute claims on behalf of the estates.  

According to the Committee, the Debtors' estates hold numerous
claims against the first lien lenders and the second lien
noteholders that, when successfully prosecuted, will provide
substantial benefits for unsecured creditors.  The Committee says
its proposed complaints assert claims with particularity and ample
factual and documentary support.

The Debtors, the Committee relates, own assets of substantial value
that are not part of the lenders' collateral.  The Committee
authority to prosecute these claims because, at the outset of the
cases, the Debtors completely abandoned and waived their ability to
assert claims against the Lenders related to, among other things,
the validity and enforceability of the Lender's security
agreements.  The Debtors' waiver of their ability to bring such
claims, however, was without prejudice to the Committee's right to
assert such claims.

To preserve the claims, the Committee seeks to assert pending a
ruling on the motion, a further order extending the "challenge
period", as that term is defined in the Final DIP Order, is
necessary.  Because the potential recoveries for the estate are
significant, cause exists to further extend the Challenge Period,
to allow for a final order on the Motion for Standing, and then to
allow for filing and prosecution of the proposed complaints.

In addition to the claims asserted in the Proposed Complaints, the
Committee has identified possible claims pertaining to certain
prepetition debt repurchase transactions.  Except for two potential
defendants, such claims would be against lenders other than the
Lenders that are defendants in the Proposed Complaints.  As such,
the Debt Repurchase Claims should not be subject to filing
deadlines created by the Challenge Period of the Final DIP Order.
The Committee, however, requests clarification that the Debt
Repurchase Claims are not waived or otherwise barred from a later
adversary proceeding because not brought within the Challenge
Period.

The Committee is represented by:

         Sands Anderson PC
         William A. Gray, Esq.
         George R. Pitts, Esq.
         P.O. Box 1998
         Richmond, VA 23218-1998
         Tel: (804) 648-1636
         Fax: (804) 783-7291

                       About Alpha Natural

Headquartered in Bristol, Virginia, Alpha Natural --
http://www.alphanr.com/-- is a coal supplier, ranked second  
largest among publicly traded U.S. coal producers as measured by
2014 consolidated revenues of $4.3 billion.  As of August 2015,
Alpha had 8,000 full time employees across many different states,
with UMWA representing 1,000 of the employees.

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of June
30, 2015, and $7.3 billion in total liabilities as of June 30,
2015.  

The petitions were signed by Richard H. Verheij, executive vice
president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the cases.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel.  Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment
banker.

Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

The U.S. Trustee for Region 4 appointed seven creditors of Alpha
Natural Resources Inc. to serve on the official committee of
unsecured creditors.  Dennis F. Dunne, Esq., Evan R. Fleck, Esq.,
and Eric K. Stodola, Esq., at Milbank, Tweed, Hadley & McCloy LLP;
and William A. Gray, Esq., W. Ashley Burgess, Esq., and Roy M.
Terry, Jr., Esq. at Sands Anderson PC, represent the Committee.


ALPHA NATURAL: DIP Lenders Want Union Settlement by March 28
------------------------------------------------------------
Alpha Natural Resources, Inc., must reach a settlement with the
union representing its mineworkers in about a week's time.
Otherwise, the lenders want the Company to file a motion seeking to
revise the terms of its collective bargaining agreements.

Alpha Natural disclosed in a regulatory filing with the Securities
and Exchange Commission last week that the fifth amendment to their
DIP credit agreement became effective on March 16, 2016.  The Fifth
DIP Amendment contains amendments to certain milestones relating to
the Bankruptcy Case set forth in the so-called First Out DIP Credit
Agreement.

Alpha Natural filed together with the Chapter 11 petitions a motion
seeking authorization to use cash collateral and to approve
financing under:

     (i) a Superpriority Secured Debtor-in-Possession Credit
         Agreement by and among the Company as borrower, certain
         Debtors party thereto as guarantors, the lenders party
         thereto -- First Out DIP Lenders -- and Citibank, N.A.,
         as Administrative Agent and Collateral Agent; and

    (ii) a Superpriority Secured Second Out Debtor-in-Possession
         Credit Agreement by and among the Company as borrower,
         certain Debtors party thereto as guarantors, the lenders
         party thereto, the issuing banks thereto and Citicorp
         North America, Inc. as Administrative Agent and
         Collateral Agent.

On August 4, 2015, the Bankruptcy Court issued an interim order
approving the DIP Financing on an interim basis and on September
17, the Bankruptcy Court issued a final order approving the DIP
Financing on a final basis.

On February 8, 2016, the Debtors filed their Omnibus Motion for
Entry of (I) An Order Establishing Bidding and Sale Procedures for
the Potential Sale of Certain Mining Properties and Related Assets;
(II) One or More Orders (A) Approving the Sale of Such Assets and
(B) Approving Settlements Related to the Pre-Petition Lenders'
Credit Bid Rights; and (III) An Order Approving Amendments to
Certain Case Milestones in Connection with the DIP Credit
Agreement.  Pursuant to the Omnibus Motion, the Debtors sought,
among other things, approval of a Waiver and Amendment No. 5 to
Superpriority Secured Debtor-in-Possession Credit Agreement.  On
March 11, 2016, the Bankruptcy Court entered an order authorizing
and approving the Fifth DIP Amendment, and authorizing the Debtors'
entry into the Fifth DIP Amendment.  

These milestones were deleted from the First Out DIP Credit
Agreement:

     * Within 155 days following the Petition Date, deliver
       proposals contemplated in the Agreed Business Plan, if any:

            (i) to authorized union representatives seeking
                modifications with respect to collective
                bargaining agreements and

           (ii) to authorized representatives of retirees seeking
                modifications with respect to retiree benefits, in
                each case, consistent with and solely to the
                extent required by the Agreed Business Plan;

     * Within 215 days following the Petition Date, seek
       Bankruptcy Court approval of any Labor/Benefits Savings
       consistent with the Agreed Business Plan;

     * To the extent that any Labor/Benefits Savings consistent
       with the Agreed Business Plan are not otherwise achieved
       on a consensual basis without the need for court relief,
       obtain any requested Labor/Benefits Orders within 320
       days of the Petition Date.

     * Within 300 days following the Petition Date, file an
       acceptable plan of reorganization.

     * Within 90 days following the filing of an acceptable
       plan of reorganization, obtain entry by the Bankruptcy
       Court of an order confirming such acceptable plan of
       reorganization.

These milestones were added to the First Out DIP Credit Agreement:

     * On or prior to March 14, 2016, the Bankruptcy Court shall
       have entered an order, in form and substance acceptable
       to the Required Lenders (as defined in the First Out DIP
       Credit Agreement), approving bidding procedures for
       substantially all of the Debtors' assets not previously the

       subject of Bankruptcy Court-approved sale procedures, and
       any assets not sold through such Bankruptcy Court-approved
       procedures (collectively, the "ANR Assets").

     * To the extent settlements with the United Mine Workers
       Association achieving Labor/Benefit Savings will have not
       been reached and documents effecting the same executed by
       all of the relevant parties thereto, by March 28, 2016,
       the Debtors shall have filed a motion pursuant to
       sections 1113 and 1114 of the Bankruptcy Code, seeking
       modifications with respect to collective bargaining
       agreements and retiree benefits, in each case, consistent
       with and to the extent required by the Agreed Business
       Plan.

     * On or prior to May 6, 2016, the Bankruptcy Court shall
       commence a hearing on the merits of a settlement with
       respect to the assets that were unperfected or
       unencumbered as of the Petition Date with respect to
       debt under the Debtors' prepetition credit agreement,
       which is the subject of the Debtors' motion filed with
       the Bankruptcy Court on February 8, 2016.

     * On or prior to the later of (x) May 10, 2016 and
       (y) 50 days after the filing of the Labor/Benefit
       Savings Motion, unless settlements with the United Mine
       Workers Associations shall have been reached concerning
       all of the Labor/Benefit Savings, and the Bankruptcy
       Court shall have entered one or multiple order(s)
       approving such settlements, the Bankruptcy Court shall
       have entered orders approving the Labor/Benefit Savings
       pursuant to sections 1113 and 1114 (as applicable) of
       the Bankruptcy Code.

     * On or prior to June 30, 2016, the Bankruptcy Court shall
       have entered an order, in form and substance reasonably
       acceptable to the Required Lenders (as defined in the
       First Out DIP Credit Agreement), approving and confirming
        the Agreed Chapter 11 Plan.

     * On or prior to July 18, 2016, the effective date of the
       Agreed Chapter 11 Plan shall have occurred.

The failure to satisfy any of the revised milestones will result in
a default under the DIP Credit Agreements.

              About Alpha Natural Resources

Headquartered in Bristol, Virginia, Alpha Natural --
http://www.alphanr.com/-- is a coal supplier, ranked second  
largest among publicly traded U.S. coal producers as measured by
2014 consolidated revenues of $4.3 billion. As of August 2015,
Alpha had 8,000 full time employees across many different states,
with UMWA representing 1,000 of the employees.

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of
June 30, 2015, and $7.3 billion in total liabilities as of June
30, 2015.

The petitions were signed by Richard H. Verheij, executive vice
president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the cases.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel. Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment
banker.

Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

The U.S. Trustee for Region 4 appointed seven creditors of Alpha
Natural Resources Inc. to serve on the official committee of
unsecured creditors. Dennis F. Dunne, Esq., Evan R. Fleck, Esq.,
and Eric K. Stodola, Esq., at Milbank, Tweed, Hadley & McCloy LLP;
and William A. Gray, Esq., W. Ashley Burgess, Esq., and Roy M.
Terry, Jr., Esq. at Sands Anderson PC, represent the Committee.

An Official Committee of Retired Employees has retained Tavenner &
Beran, PLC, as bankruptcy counsel, Harman Claytor Corrigan &
Wellman as special counsel, and Zolfo Cooper, LLC, as consultant
and financial advisor.

                       *     *     *

Alpha Natural Resources on March 8 disclosed that it has filed a
proposed Chapter 11 Plan of Reorganization and a related Disclosure
Statement with the United States Bankruptcy Court for the Eastern
District of Virginia.  Together with the recently filed motion
seeking approval of a marketing process for Alpha's core operating
assets, these filings provide for the sale of Alpha's assets,
detail a path toward the resolution of all creditor claims, and
anticipate the emergence of a streamlined and sustainable
reorganized company able to satisfy its environmental obligations
on an ongoing basis.  By selling certain assets as a going concern
and restructuring the company's remaining assets into a reorganized
Alpha, the company is able to provide maximum recovery to its
creditors, while preserving jobs and putting itself in the best
position to meet its reclamation obligations.  This path will allow
for a conclusion of Alpha's bankruptcy proceedings by June 30,
2016.


ALPHA NATURAL: Lenders Revise Liquidity, CapEx Covenants
--------------------------------------------------------
Alpha Natural Resources, Inc. disclosed in a regulatory filing with
the Securities and Exchange Commission last week that the fifth
amendment to their DIP credit agreement became effective on March
16, 2016.  The Fifth DIP Amendment amends and restates certain
negative covenants under DIP Credit Agreements.

Alpha Natural filed together with the Chapter 11 petitions a motion
seeking authorization to use cash collateral and to approve
financing under:

     (i) a Superpriority Secured Debtor-in-Possession Credit
         Agreement by and among the Company as borrower, certain
         Debtors party thereto as guarantors, the lenders party
         thereto -- First Out DIP Lenders -- and Citibank, N.A.,
         as Administrative Agent and Collateral Agent; and

    (ii) a Superpriority Secured Second Out Debtor-in-Possession
         Credit Agreement by and among the Company as borrower,
         certain Debtors party thereto as guarantors, the lenders
         party thereto, the issuing banks thereto and Citicorp
         North America, Inc. as Administrative Agent and
         Collateral Agent.

On August 4, 2015, the Bankruptcy Court issued an interim order
approving the DIP Financing on an interim basis and on September
17, the Bankruptcy Court issued a final order approving the DIP
Financing on a final basis.

On February 8, 2016, the Debtors filed their Omnibus Motion for
Entry of (I) An Order Establishing Bidding and Sale Procedures for
the Potential Sale of Certain Mining Properties and Related Assets;
(II) One or More Orders (A) Approving the Sale of Such Assets and
(B) Approving Settlements Related to the Pre-Petition Lenders'
Credit Bid Rights; and (III) An Order Approving Amendments to
Certain Case Milestones in Connection with the DIP Credit
Agreement.  Pursuant to the Omnibus Motion, the Debtors sought,
among other things, approval of a Waiver and Amendment No. 5 to
Superpriority Secured Debtor-in-Possession Credit Agreement.  On
March 11, 2016, the Bankruptcy Court entered an order authorizing
and approving the Fifth DIP Amendment, and authorizing the Debtors'
entry into the Fifth DIP Amendment.  

The revisions to the negative covenants are:

(A) Capital Expenditures

    (1) The Borrower is restricted from making or becoming legally
        obligated to make any Capital Expenditure, except for
        Capital Expenditures in the ordinary course of business
        not exceeding, in a cumulative amount for the Borrower and
        its Subsidiaries on a consolidated basis:

             (i) for the period from and including the Effective
                 Date to and including October 31, 2015,
                 $136,700,000; and

            (ii) for each period from and including November 1,
                 2015, to and including any date set forth:

                 Date                      Maximum CapEx
                 ----                      -------------
                 December 4, 2015            $70,200,000
                 January 8, 2016            $102,900,000

    (2) The Borrower is restricted from making or becoming legally
        obligated to make any Capital Expenditure, except for
        Capital Expenditures (excluding PLR Capex) in the ordinary
        course of business not exceeding, in a cumulative amount
        for the Borrower and its Subsidiaries on a consolidated
        basis:

             (i) for the period from and including February 26,
                 2016 to and including April 1, 2016, $23,100,000
                 (in the aggregate),

            (ii) for the period from and including February 26,
                 2016 to and including May 20, 2016, $47,200,000
                 (in the aggregate) and

           (iii) for any period ending after May 20, 2016, in the
                 amounts as may be agreed among the parties.

    (3) The Borrower is restricted from making or becoming legally
        obligated to make to make any Capital Expenditure in
        respect of Pennsylvania Land Resources, LLC ("PLR") or its
        related businesses ("PLR Capex"), except for PLR Capex in
        the ordinary course of business not exceeding, in a
        cumulative amount for the Borrower and its Subsidiaries on
        a consolidated basis:

             (i) for the period starting from November 1, 2015 and

                 ending on January 8, 2016, $15,000,000 (in the
                 aggregate),

            (ii) for the period from and including February 26,
                 2016 to and including April 1, 2016, $3,500,000
                 (in the aggregate),

            (ii) for the period from and including February 26,
                 2016 to and including May 20, 2016, $12,300,000
                 (in the aggregate) and

           (iii) for any period ending after May 20, 2016, in the
                 amounts as may be agreed among the parties.

(B) Minimum Liquidity

    The Borrower shall not permit:

    (1) Consolidated Liquidity, as of the close of business on any
        Business Day during the month of August 2015, September
        2015 or October 2015 to be less than

        (x) in the case of August 2015, $1,280,700,000 (or, if
            the Business Day is prior to the second borrowing of
            Term Loans, $1,080,700,000),

        (y) in the case of September 2015, $1,238,100,000 (or,
            if the Business Day is prior to the second borrowing
            of Term Loans, $1,038,100,000) and

        (z) in the case of October 2015, $1,161,200,000;

    (2) Consolidated Liquidity, as of the close of business on
        any Business Day after October 31, 2015 but on or before
        January 8, 2016, to be less than the amount specified in
        the table; or

        Week Ended                 Minimum Liquidity
        ----------                 -----------------
        November 6, 2015           $1,301.2 million
        November 13, 2015          $1,255.3 million
        November 20, 2015          $1,248.5 million
        November 27, 2015          $1,229.0 million
        December 4, 2015           $1,229.4 million
        December 11, 2015          $1,212.3 million
        December 18, 2015          $1,208.3 million
        December 25, 2015          $1,183.7 million
        January 1, 2016            $1,181.1 million
        January 8, 2016            $1,177.5 million

    (3) Consolidated Liquidity, as of the close of business on
        any Business Day from and after March 4, 2016 to be
        less than the amount specified:

        Week Ended                 Minimum Liquidity
        ----------                 -----------------
        March 4, 2016               $1,102.3 million
        March 11, 2016              $1,083.3 million
        March 18, 2016              $1,058.1 million
        March 25, 2016              $1,061.9 million
        April 1, 2016               $1,039.7 million
        April 8, 2016               $1,052.8 million
        April 15, 2016              $1,043.2 million
        April 22, 2016              $1,054.3 million
        April 29, 2016              $1,049.4 million
        May 6, 2016                 $1,050.1 million
        May 13, 2016                $1,048.3 million
        May 20, 2016                $1,053.6 million

    (4) Consolidated Liquidity, as of the close of business on
        any Business Day following May 20, 2016 to be less than
        the amount as may be agreed among the parties.

The Fifth DIP Amendment also contains a waiver of any default or
event of default under the First Out DIP Credit Agreement that
occurred on or prior to March 8, 2016 and that was actually and
specifically known by the Administrative Agent on or prior to that
date, including any default or event of default on account of any
alleged failure by the Debtors to timely comply with the
requirements of Section 5.17(c) of the First Out DIP Credit
Agreement.

A copy of the Waiver and Amendment No. 5 is available at
http://1.usa.gov/1PlBejL

              About Alpha Natural Resources

Headquartered in Bristol, Virginia, Alpha Natural --
http://www.alphanr.com/-- is a coal supplier, ranked second  
largest among publicly traded U.S. coal producers as measured by
2014 consolidated revenues of $4.3 billion. As of August 2015,
Alpha had 8,000 full time employees across many different states,
with UMWA representing 1,000 of the employees.

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of
June 30, 2015, and $7.3 billion in total liabilities as of June
30, 2015.

The petitions were signed by Richard H. Verheij, executive vice
president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the cases.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel. Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment
banker.

Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

The U.S. Trustee for Region 4 appointed seven creditors of Alpha
Natural Resources Inc. to serve on the official committee of
unsecured creditors. Dennis F. Dunne, Esq., Evan R. Fleck, Esq.,
and Eric K. Stodola, Esq., at Milbank, Tweed, Hadley & McCloy LLP;
and William A. Gray, Esq., W. Ashley Burgess, Esq., and Roy M.
Terry, Jr., Esq. at Sands Anderson PC, represent the Committee.

An Official Committee of Retired Employees has retained Tavenner &
Beran, PLC, as bankruptcy counsel, Harman Claytor Corrigan &
Wellman as special counsel, and Zolfo Cooper, LLC, as consultant
and financial advisor.

                       *     *     *

Alpha Natural Resources on March 8 disclosed that it has filed a
proposed Chapter 11 Plan of Reorganization and a related Disclosure
Statement with the United States Bankruptcy Court for the Eastern
District of Virginia.  Together with the recently filed motion
seeking approval of a marketing process for Alpha's core operating
assets, these filings provide for the sale of Alpha's assets,
detail a path toward the resolution of all creditor claims, and
anticipate the emergence of a streamlined and sustainable
reorganized company able to satisfy its environmental obligations
on an ongoing basis.  By selling certain assets as a going concern
and restructuring the company's remaining assets into a reorganized
Alpha, the company is able to provide maximum recovery to its
creditors, while preserving jobs and putting itself in the best
position to meet its reclamation obligations.  This path will allow
for a conclusion of Alpha's bankruptcy proceedings by June 30,
2016.


ALPHA NATURAL: Philip Cavatoni Steps Down as CFO
------------------------------------------------
Philip J. Cavatoni on March 15, 2016, notified Alpha Natural
Resources, Inc. of his intention to voluntarily resign, effective
as of March 23, 2016, from his position as Chief Financial and
Strategy Officer. He will continue to serve as Executive Vice
President until April 1, 2016.

On March 18, 2016, the Company's Board of Directors elected Andrew
Eidson to the position of Executive Vice President and Chief
Financial Officer, effective as of the Transition Date.

Mr. Eidson, 40, has served as the Senior Vice President, Strategy
and Business Development for the Company's wholly-owned subsidiary
Alpha Natural Resources Services, LLC since December 2015, having
previously served as Vice President, Mergers and Acquisitions.
Prior to joining the Company in July 2010, Mr. Eidson served in
several financial positions across industry sectors, including at
PricewaterhouseCoopers LLP, Eastman Chemical Company, and most
recently at Penn Virginia Resource Partners, where he led mergers
and acquisitions projects for the coal segment and managed the
budgeting and planning process. Mr. Eidson holds a bachelor of
science degree, cum laude, in commerce and business administration
from the University of Alabama and a master of business
administration degree from Milligan College.

In connection with Mr. Eidson's appointment, the Compensation
Committee of the Board approved an annual base salary of $400,000,
effective as of the Transition Date. Other elements of Mr. Eidson's
compensation have not yet been determined. This information will be
provided by an amendment to this report within four business days
after the information has been determined.

"Andy has excelled in his prior positions at Alpha and I'm
confident his experience, energy, and talent will ensure a smooth
transition in his new role,' said Alpha's Chairman and CEO Kevin
Crutchfield. "As Alpha continues to navigate its restructuring
process, emerging leaders like Andy will be vital in shaping the
organization's future.'

Mr. Cavatoni has been with the company since 2009 and previously
served as Executive Vice President and Chief Strategy Officer, as
well as Treasurer and Executive Vice President, Finance and
Strategy, before assuming the CFO role in March 2015.

"Phil's strategic thinking and financial acumen have been valuable
assets to Alpha over the past seven years,' said Crutchfield. "We
wish him much success in his next endeavor.'

              About Alpha Natural Resources

Headquartered in Bristol, Virginia, Alpha Natural --
http://www.alphanr.com/-- is a coal supplier, ranked second  
largest among publicly traded U.S. coal producers as measured by
2014 consolidated revenues of $4.3 billion. As of August 2015,
Alpha had 8,000 full time employees across many different states,
with UMWA representing 1,000 of the employees.

Alpha Natural Resources, Inc. (Bankr. E.D. Va. Case No. 15-33896)
and its affiliates filed separate Chapter 11 bankruptcy petitions
on Aug. 3, 2015, listing $9.9 billion in total assets as of
June 30, 2015, and $7.3 billion in total liabilities as of June
30, 2015.

The petitions were signed by Richard H. Verheij, executive vice
president, general counsel and corporate secretary.

Judge Kevin R. Huennekens presides over the cases.

David G. Heiman, Esq., Carl E. Black, Esq., and Thomas A. Wilson,
Esq., at Jones Day serve as the Debtors' general counsel.

Tyler P. Brown, Esq., J.R. Smith, Esq., Henry P. (Toby) Long, III,
Esq., and Justin F. Paget, Esq., serve as the Debtors' local
counsel. Rothschild Group is the Debtors' financial advisor.
Alvarez & Marshal Holdings, LLC, is the Debtors' investment
banker.

Kurtzman Carson Consultants, LLC, is the Debtors' claims and
noticing agent.

The U.S. Trustee for Region 4 appointed seven creditors of Alpha
Natural Resources Inc. to serve on the official committee of
unsecured creditors. Dennis F. Dunne, Esq., Evan R. Fleck, Esq.,
and Eric K. Stodola, Esq., at Milbank, Tweed, Hadley & McCloy LLP;
and William A. Gray, Esq., W. Ashley Burgess, Esq., and Roy M.
Terry, Jr., Esq. at Sands Anderson PC, represent the Committee.

An Official Committee of Retired Employees has retained Tavenner &
Beran, PLC, as bankruptcy counsel, Harman Claytor Corrigan &
Wellman as special counsel, and Zolfo Cooper, LLC, as consultant
and financial advisor.

                       *     *     *

Alpha Natural Resources on March 8 disclosed that it has filed a
proposed Chapter 11 Plan of Reorganization and a related Disclosure
Statement with the United States Bankruptcy Court for the Eastern
District of Virginia.  Together with the recently filed motion
seeking approval of a marketing process for Alpha's core operating
assets, these filings provide for the sale of Alpha's assets,
detail a path toward the resolution of all creditor claims, and
anticipate the emergence of a streamlined and sustainable
reorganized company able to satisfy its environmental obligations
on an ongoing basis.  By selling certain assets as a going concern
and restructuring the company's remaining assets into a reorganized
Alpha, the company is able to provide maximum recovery to its
creditors, while preserving jobs and putting itself in the best
position to meet its reclamation obligations.  This path will allow
for a conclusion of Alpha's bankruptcy proceedings by June 30,
2016.


ANNA'S LINENS: Wants to Covert Bankruptcy Case to Chapter 7
-----------------------------------------------------------
Anna's Linens, Inc., asks the U.S. Bankruptcy Court for the Central
District of California, Santa Ana Division, to convert its Chapter
11 case to a case under Chapter 7 of the Bankruptcy Code.

The Debtor relates that although it was working on a transaction
that would preserve its going concern value through a plan of
reorganization or sale of its operations, such efforts were not
successful and the case transitioned into a liquidation.  The
Debtor further relates that the liquidation of the Debtor's assets
has substantially concluded.  It notes that the estate still
retains substantial claims and causes of action which may be
pursued for the benefit of all creditors.

The Debtor tells the Court that the Official Committee of Unsecured
Creditors ("Official Committee") requested that the Debtor remain
in Chapter 11 and utilize its debtor in possession personnel and
its professionals to prosecute certain claims and causes of action,
which the Debtor has been doing.  The Debtor further tells the
Court that numerous matters and scheduled for hearing on March 23,
2016.  The Debtor contends that the Official Committee has
requested that the Debtor convert this case to one under Chapter 7
of the Bankruptcy Code promptly upon entry of orders resolving the
matters scheduled for hearing on March 23, 2016, and that it agreed
to do so.

Anna's Linens is represented by:

          David B. Golubchik, Esq.
          Eve H. Karasik, Esq.
          Juliet Y. Oh, Esq.
          LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
          10250 Constellation Boulevard, Suite 1700
          Los Angeles, CA 90067
          Telephone: (310)229-1234
          Facsimile: (310)229-1244
          E-mail: dbg@lnbyb.com
                  ehk@lnbyb.com
                  jyo@lnbyb.com

                        About Anna's Linens

Anna's Linens is a specialty retailer offering home textiles,
furnishings and decor at attractive prices.  Headquartered in
Costa Mesa, California, operates a chain of 268 company owned
retail stores throughout 19 states in the United States (including
Puerto Rico and Washington, D.C.) generates over $300 million in
annual revenue and employs a workforce of over 2,500 associates.

Anna's Linens sought Chapter 11 bankruptcy protection (Bankr. C.D.
Cal. Case No. 15-13008) in Santa Ana, California, on June 14,
2015.

The case is assigned to Judge Theodor Albert.  The Debtor tapped
Levene, Neale, Bender, Yoo & Brill LLP as counsel.  The Debtor
estimated assets of $50 million to $100 million and debt of $100
million to $500 million.

The U.S. trustee overseeing the Chapter 11 case of Anna's Linens
Inc. appointed seven creditors to serve on the official committee
of unsecured creditors.


ARCH COAL: Files Bankruptcy Rule 2015.3 Report
----------------------------------------------
Arch Coal Inc. and its affiliates filed a report with the U.S.
Bankruptcy Court for the Eastern District of Missouri, disclosing
that they directly hold all or substantially all of the equity
interests in these companies:

   Companies                              Interest of Estate  
   ---------                              ------------------  
   Arch of Australia PTY LTD                     100%
   Arch Coal of Australia PTY LTD                100%
   Arch Coal Australia Holdings PTY LTD          100%
   Arch Coal Asia-Pacific PTE LTD                100%
   Arch Coal Europe Limited                      100%
   Arch Coal UK Unlimited                         85%
   Arch Receivable Company, LLC                  100%

The coal producer filed the report pursuant to Bankruptcy Rule
2015.3.  The report is available for free at http://is.gd/NHkSC1

                         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: Hires Davis Polk as Bankruptcy Counsel
-------------------------------------------------
Arch Coal, Inc. has hired Davis Polk & Wardwell LLP as its
bankruptcy counsel.

Davis Polk will provide legal advice with respect to Arch Coal's
duties as a debtor-in-possession, prepare court documents, and
prosecute actions on behalf of the company.  The firm will also
take actions in connection with the formulation of the company's
Chapter 11 plan and the administration of its estate.

The firm will be paid on an hourly basis for its services and will
receive reimbursement for work-related expenses.  

As of Jan. 11, 2016, the hourly rates range from $890 to $1,250 for
partners, $955 for counsel, $375 to $870 for associates, and $270
to $445 for paraprofessionals.

The firm does not hold or represent any interest adverse to Arch
Coal's estates and is a "disinterested person" under section
101(14) of the Bankruptcy Code, according to a declaration by Brian
Resnick, Esq., a partner at Davis Polk.

                         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: Hires Ernst & Young as Auditor, Tax Advisor
------------------------------------------------------
Arch Coal, Inc. has hired Ernst & Young LLP as its independent
auditor and tax advisor.

Ernst & Young will provide "core" audit services, which include
auditing the company's financial statements for the year ended Dec.
31, 2015; auditing and reporting on the effectiveness of the
company's internal control over financial reporting as of Dec. 31,
2015; and reviewing its unaudited interim financial information
before the company files its Form 10-Q.

The firm will also provide what it considers "non-core audit
services," which include researching and accounting consultation
services.

Arch Coal has agreed to pay the firm a fee of $871,388 for the core
audit services.  Meanwhile, the company will compensate the firm
for non-core audit services at these discounted hourly rates:

     Partner/Executive Director    $750 - $850
     Senior Manager                $600 - $750
     Manager                       $450 - $550
     Senior                        $300 - $400
     Staff                         $150 - $250
     Intern                         $75 - $100

Ernst & Young will also provide tax advisory services to the
company.  The firm will be compensated for such services at these
hourly rates:

    Partner/Executive Director     $800 - $950
    Senior Manager                 $700 - $800
    Manager                        $550 - $650
    Senior                         $250 - $450
    Staff                          $150 - $200

Jeffrey Hoelscher, a partner at Ernst & Young, disclosed in a court
filing that the firm does not hold or represent any interest
adverse to the company, and is a "disinterested person" under
section 101(14) of the Bankruptcy Code.

                         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: Hires FTI Consulting as Financial Advisor
----------------------------------------------------
Arch Coal Inc. has hired FTI Consulting Inc. as its restructuring
financial advisor.  FTI is tasked to:

     (1) meet with key management to discuss the company's current

         operations and liquidity position;

     (2) develop an understanding of the company's current
         operations, working capital and liquidity;

     (3) review the company's current financial position,
         financial forecasts and projected cash flows;

     (4) assist the company in developing a long-term business
         plan and related financial projections;

     (5) develop a detailed approach to preparing the company for
         its case in the most cost effective and efficient manner
         possible;

     (6) develop and implement a 13-week cash flow forecast;

     (7) coordinate the company's resources dedicated to the above

         initiatives;

     (8) assist the company in identifying, assessing and
         implementing procedures to control and conserve working
         capital;

     (9) assist in preparing financial information for
         distribution to various constituencies;

    (10) attend meetings;

    (11) assist in negotiations among the company and its
         creditors, suppliers, lessors and other interested
         parties; and

    (13) assist in developing a plan of reorganization and all
         appropriate bankruptcy filings necessary to obtain
         approval of the plan.

Alan Boyko and Paul Hansen will lead the team of FTI's
professionals, according to court filings.

The firm will be paid on an hourly basis for its services and will
receive reimbursement for work-related expenses.  The hourly rates
are as follows:

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

Messrs. Boyko and Hansen will be invoiced at 80% of their standard
hourly rates.  Other FTI employees will be invoiced at their
standard rates, according to court filings.

Mr. Boyko, managing director of FTI, disclosed in a declaration
that his firm does not hold or represent any interest adverse to
Arch Coal's estate, and is a "disinterested person" under section
101(14) of the Bankruptcy Code.

                         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.


ATLANTIC & PACIFIC: CPO Claim Excused From Admin. Bar Date
----------------------------------------------------------
U.S. Bankruptcy Judge Robert D. Drain has approved a stipulation
between The Great Atlantic & Pacific Tea Company, Inc., and the
Consumer Privacy Ombudsman (CPO), under which the parties expressly
agree that the CPO is deemed to be an entity or person who need not
file an administrative expense claim on or before the
Administrative Bar Date to the extent that such claim is solely for
services performed or reimbursement of expenses incurred, and such
person or entity is seeking compensation for such services through
timely filed monthly fee statements asserted in accordance with the
Interim Compensation Order or through similar reporting
mechanisms.

The Consumer Privacy Ombudsman is represented by:

         Frejka PLLC
         Elise S. Frejka, Esq.
         733 Third Avenue, 15th Floor
         New York, New York 10017
         Tel: (212) 641-0800

                      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 & PACIFIC: PBGC to Pay Pension Benefits for Retirees
-------------------------------------------------------------
The Pension Benefit Guaranty Corporation will pay retirement
benefits for more than 21,000 current and future retirees of the
Great Atlantic & Pacific Tea Co., a supermarket chain based in
Montvale, N.J., that is commonly known as A&P.

PBGC is stepping in because A&P has sold the majority of its assets
in bankruptcy proceedings and most of the buyers declined to keep
the plans going. The three plans that PBGC will assume ended on
Nov. 30, 2015.

The agency will pay all pension benefits earned by A&P retirees up
to the legal maximum of $60,136 a year for a 65-year-old.

Retirees will continue to get benefits without interruption, and
future retirees can apply for benefits as soon as they are
eligible.

During the transition of shifting benefit payment responsibility to
PBGC, participants who are in pay status in the company's pension
plans will continue to receive benefits from A&P and its
affiliates.

PBGC is becoming responsible for these pension plans:

     (A) The Great Atlantic & Pacific Tea Co. Inc. Plan is 55
percent funded and has 14,783 participants. PBGC estimates that the
plan has $135 million in assets to pay $244.4 million in benefit
liabilities. The agency expects to cover $105.6 million of the
$109.4 million shortfall.

     (B) The Pathmark Stores Inc. Pension Plan is 64 percent funded
and has 6,278 participants. PBGC estimates the plan has $327.2
million in assets to pay $509.5 million in benefits liabilities.
PBGC expects to cover nearly all of the $182.3 million shortfall.

     (C) The Delaware County Dairies Inc. Hourly Employees Pension
Plan has no assets and covers eight people. The plan owes
participants $100,000 in benefits. PBGC will cover the entire
amount.

     (D) The New York-New Jersey Amalgamated Pension Plan for A&P
Employees has not been terminated and is an ongoing plan. This plan
is jointly administered by UFCW Local 464A and Acme Markets Inc.
and has been renamed the New York-New Jersey Amalgamated Pension
Plan for ACME Employees.

A&P was founded in 1859 and at its height operated a number of
supermarket brands such as SuperFresh, Pathmark, Waldbaum's and the
Food Emporium. On July 19, 2015, A&P and 20 of its affiliates filed
for Chapter 11 protection in the U.S. Bankruptcy Court in
Manhattan. It was the company's second Chapter 11 filing in five
years. A&P sought bankruptcy protection in December 2010 to
restructure its operations and finances. While A&P came out of that
previous bankruptcy with its pension plans ongoing, the company was
unable to sustain profitability.

PBGC protects the pension benefits of more than 40 million
Americans in private-sector pension plans. The agency is directly
responsible for paying the benefits of about 1.5 million people in
failed pension plans. PBGC receives no taxpayer dollars and never
has. Its operations are financed by insurance premiums, investment
income, and with assets and recoveries from failed single-employer
plans.


ATNA RESOURCES: Seeks to Extend Removal Deadline to April 15
------------------------------------------------------------
Atna Resources Ltd. asked the Bankruptcy Court to extend the time
within which to remove actions by an additional 60 days to April
15, 2016.

The Debtors submit that sufficient cause exists to grant the
requested extension.  Since the Petition Date, the Debtors have
worked diligently and made significant progress with their
restructuring efforts.  They have successfully transitioned into
chapter 11, continued to preserve and maximize value by maintaining
the assets at their mine sites, and worked cooperatively and
communicated extensively with the creditors, the Committee, and key
suppliers and service providers.

The Debtors have not had sufficient time to focus on evaluating
their prepetition claims and causes of action and make an informed
determination as to whether any or all of them should be removed.
At this juncture, the Debtors' attention is more properly focused
on working with their creditors and other key stakeholders and
moving forward with their efforts to identify and pursue the best
restructuring transaction available that will maximize value for
these estates.

Absent the requested extension, the Debtors' risk losing the
ability to remove claims and causes of action, which could have
negative consequences for the Debtors' estates.  Furthermore, an
extension of the Current Deadline will not prejudice any creditor
and is not being sought for any improper purpose.  To the contrary,
an extension will allow the Debtors time to focus on making
continued progress with their restructuring efforts and to evaluate
and make an informed determination as to whether any claims or
causes of action should be removed.

Although the Debtors believe that they will have sufficient time to
make such a determination if the extension is granted, it is
possible that further extensions may be necessary or appropriate.
Accordingly, the Debtors reserve the right to seek additional
extensions of the Current Deadline and any extension thereof that
the Court may grant in its discretion.

                      About Atna Resources

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

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

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

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

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

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

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


AXION INT'L: Bank Objects to Bidding Motion, Prefers Stay Relief
----------------------------------------------------------------
Community Bank filed its objection to debtors Axion International,
Inc., et al.'s amended motion seeking approval from the U.S.
Bankruptcy Court for the District of Delaware of bidding
procedures.

"Community Bank objects to the Bid Procedures Motion because
Community Bank seeks relief from the automatic stay, and intends to
obtain its collateral outside the Bankruptcy case.  But even if the
stay relief motion is denied, Community Bank objects to the Bid
Procedures Motion because it purports to permit the Debtors' to
sell substantially all of their assets -- including the Community
Bank Collateral -- to Mr. Kronstadt through a credit bid or an
insufficient cash bid, even though certain of these assets (the
Community Bank Collateral) are encumbered by Community Bank's first
priority liens, and Community Bank has an absolute right to credit
bid.  The Bid Procedures Motion does not explain how the stalking
horse bidder should be permitted to strip Community Bank's right to
credit bid, or why it should be entitled to circumvent the first
priority lien position of Community Bank in the Community Bank
Collateral.  Either the Debtors have made a mistake, or they
actually seek to strip Community Bank of its liens through a
contested sale hearing on the claims of Community Bank and value of
the Community Bank Collateral.  If the latter is true, it is even
more objectionable given the lack of resources to market and sell
the Debtors' assets, and the Debtors' failure to provide adequate
protection for using Community Bank's assets in this case.
Therefore, the Bid Procedures Motion should be denied unless
Community Bank is recognized as the only initial qualified bidder
for Lot 4, and unequivocally permitted to bid and obtain the
Community Bank Collateral for an amount up to the full amount of
its claim," Community Bank states in its Objection.

Community Bank is represented by:

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

Axion International, Inc., and its affiliated debtors are
represented by:

          Scott D. Cousins, Esq.
          Ashley B. Stitzer, Esq.
          Justin R. Alberto, Esq.
          BAYARD, P.A.
          222 Delaware Avenue, Suite 900
          Wilmington, DE 19801
          Telephone: (302)655-5000
          Facsimile: (302)658-6395
          E-mail: scousins@bayardlaw.com
                  jalberto@bayardlaw.com

                    About Axion International

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

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

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

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

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

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

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


AXION INT'L: Community Bank Seeks Standing to Sue
-------------------------------------------------
Community Bank asks the U.S. Bankruptcy Court for the District of
Delaware to grant it standing and authority to commence, prosecute,
settle and recover certain causes of action on behalf of Debtors
Axion International, Inc., et. al.'s estates.

Community Bank is a substantial creditor of the Debtors' estates.
The Debtors granted security interests to Community Bank, evidenced
by Security Agreements and by UCC Filings in Ohio, Texas and
Delaware.  As of Jan. 29, 2016, the balance due on the Debtors'
loan was $4,471,137.

Community Bank alleges that the Debtors have grossly mismanaged
their assets, and that the Debtors, as debtors-in-possession,
actually sold assets after the Petition Date without notice or
Court approval.  It further alleges that the Debtors' conduct has
not only impaired Community Bank's collateral and thus its claims,
it has and will materially affect the claims of all general
unsecured creditors.

Community Bank relates that the Debtors filed their Bid Procedures
Motion on Dec. 2, 2015, where an entity controlled by investor
Allen Krondstadt, as stalking horse bidder, sought to use
Mr. Krondstadt's loans to acquire substantially all of the Debtors
assets. It further relates that the Official Committee of Unsecured
Creditor's Standing Motion, details numerous issues with liens and
claims of Mr. Krondstadt, and the Debtors' conduct related to
assets and equipment.  Community Bank notes that the Court granted
the Committee Standing Motion and stated that the allegations made
by the Official Committee are colorable claims for the
recharacterization of the debt, as well as for equitable
subordination.

Community Bank relates that it has direct prepetition and
post-petition claims against the Debtors, Mr. Kronstadt and current
and former officers and directors of the Debtors.  Community Bank
further relates that it also has direct claims that assets in the
Debtors' possession -- which the Debtors believe are securing
claims of Mr. Kronstadt and the DIP Lender -- are actually
Community Bank Collateral.  Community Bank believes the conduct of
Mr. Kronstadt and the DIP Lender, warrant granting a creditor --
Community Bank -- standing to pursue claims on behalf of the estate
challenging and subordinating or recharacterizing the claims of Mr.
Kronstadt and entities he controls.

The Creditors Committee has informed the Court that it will not
bring its claims against Mr. Krondstadt, deciding instead to
support a plan of reorganization that will release Mr. Krondstadt
and provide limited funds to general unsecured creditors. Community
Bank contends that it wants to bring the claims the Court granted
the Committee standing to pursue.

Community Bank is represented by:

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

                    About Axion International

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

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

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

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

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

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

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


AXION INT'L: Community Bank Wants Cases Converted to Chapter 7
--------------------------------------------------------------
Community Bank asks the U.S. Bankruptcy Court for the District of
Delaware to convert the Chapter 11 cases to Chapter 7 cases.

Community Bank relates that the record in the cases shows debtors
Axion International, Inc., et al., have, since the Petition Date,
disregarded properly conducted chapter 11 cases, and shirked
fiduciary duties owed by debtors-in-possession.  Community Bank
further relates that in numerous pleadings and evidentiary hearings
in the  Court, the Official Committee of Unsecured Creditors and
other parties have repeatedly exposed misconduct by the Debtors.

Community Bank tells the Court that it has discovered by its own
investigation that the Debtors engaged in the improper sale of
assets before the Petition Date, in abject disregard for
representations and warranties, and in direct violation of loans,
security agreements, and other covenants.  Community Bank further
tells the Court that it has recently learned that that practice
continued after the Petition Date -- on at least one known occasion
-- without notice, disclosure or Court Order.

Community Bank contends that while it is continuing its
investigation, the overwhelming evidence in the record in the cases
shows that the Debtors have little interest in acting as
fiduciaries, and instead, approach the process as a game, to be won
for the Debtors' insider, at the expense of all other creditors.
Community Bank further contends that the Debtors' disregard of the
law and ignorance of their fiduciary duties warrants appointment of
an objective, independent trustee who will act for all creditors.

Community Bank's motion is scheduled for hearing on April 4, 2016
at 10:00 a.m.  The deadline for the filing of objections to
Community Bank's motion is set on March 28 at 4:00 p.m.

Community Bank is represented by:

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

                     About Axion International

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

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

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

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

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

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

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


BH SUTTON: 341 Meeting of Creditors Set for April 6
---------------------------------------------------
The U.S. trustee overseeing the Chapter 11 case of BH Sutton Mezz
LLC is set to hold a meeting of creditors on April 6, 2016, at 2:00
p.m., according to a filing with the U.S. Bankruptcy Court for the
Southern District of New York.

The meeting will take place at the Office of the U.S. Trustee, One
Bowling Green, Room 511, Fifth Floor, New York.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                         About BH Sutton

New York City-based BH Sutton Mezz LLC filed for Chapter 11
protection (Bankr. S.D. NY Case No. 16-10455) on Feb. 26, 2016.
The petition was signed by Herman Carlinsky, president.  The Hon.
Sean H. Lane presides over the case.  Joseph S. Maniscalco, Esq.,
at Lamonica Herbst & Maniscalco, LLP represents the Debtor in its
restructuring effort.  The Debtor estimated assets at $100 million
to $500 million and debts at $10 million to $50 million.


BLUE EARTH: Enters Chapter 11, to File Plan in 30 Days
------------------------------------------------------
Blue Earth Inc., an alternative/renewable power generation
solutions company, on March 21 disclosed that it has reached an
agreement with Jackson Investment Group, LLC ("JIG"), a senior
lender and a principal shareholder of the Company which declared a
default on March 1, 2016 now equal to approximately $21,747,056
principal amount of indebtedness (plus all accrued and unpaid
default principal amounts), interest (including default interest),
expenses and fees (including late fees) to provide necessary
financing in order to restructure the Company's operations.  In
order to facilitate the restructuring, Blue Earth on March 21 filed
voluntary petitions for reorganization via Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for Northern District
of California, San Francisco Division under the caption In re: Blue
Earth, Inc., et al.  The sole other entity filing is Blue Earth
Tech, Inc., which employs the Company's operating personnel.  No
other subsidiaries are included as Chapter 11 debtors and are not
expected to be impacted by the filing.  However, all of the
Company's subsidiaries are guarantors and their assets and stock
are pledged to JIG and other secured lenders.  JIG has committed to
provide $1,000,000 of interim and up to $3,000,000 on a final basis
in debtor-in-possession financing.  This financing is subject to
court approval and will be used to pay ongoing normal course of
business obligations.

The Company plans to submit a Chapter 11 Plan of Reorganization
within the next thirty days, which is intended to address the
claims of unsecured creditors and shareholders, as well, all
subject to approval by the Bankruptcy Court.  Blue Earth intends to
move expeditiously through the bankruptcy process.

Pachulski Stang Ziehl and Jones LLP is serving as legal advisor and
EOS Capital Advisors LLC and Ice Glen Associates, LLC as the
Company's valuation firms.

                     About Blue Earth Inc.

BBLU -- http://www.blueearthinc.com-- is engaged in the clean
technology industry with a primary focus in alternative/renewable
power generation sectors.  It strives to participate in the global
movement for a sustainable planet by offering products and services
that will optimize energy use, reduce harmful environmental
emissions and materially reduce energy costs to its customers.


BOOMERANG TUBE: 2nd Amended Joint Plan Declared Effective
---------------------------------------------------------
Boomerang Tube, LLC, et al., said in a filing with the U.S.
Bankruptcy Court for the District of Delaware that the Effective
Date of their  Second Amended Joint Chapter 11 Plan occurred on
Feb. 2, 2016.

As reported by the Troubled Company Reporter on Feb. 1, 2016, Judge
Mary F. Walrath, on Jan. 27, 2016, issued a findings of fact,
conclusions of law, and order confirming the Debtors' Second
Amended Joint Plan, after a majority of holders of claims entitled
to vote on the Plan voted to accept the Plan.

The Plan reduces the Debtors' funded debt obligations by converting
approximately $214 million in outstanding principal of
Term Loan Facility obligations into (i) 100% of the New Holdco
Common Stock (subject to dilution for (x) issuances of equity under
a management incentive plan not to exceed 5% of the total
outstanding equity of New Holdco, and (y) by the Exit Term Facility
Closing Fee) and (ii) $55 million of subordinated secured notes
issued by New Opco.

The Plan will be financed with the proceeds of the committed Exit
Term Facility, which will be used to pay off the obligations under
the DIP Term Facility, fund expenses under the Plan, and provide
additional working capital to the Reorganized Debtors.  The Debtors
may also elect to enter into the Exit ABL Facility, which would be
used to pay off the obligations under the DIP ABL Facility and
provide additional working capital to the Reorganized Debtors.

Holders of General Unsecured Claims are estimated to recover 4% to
6% of their total allowed claims.

A full-text copy of Judge Walrath's Confirmation Order is available
at http://bankrupt.com/misc/BTplanord0127.pdf

The Reorganized Debtors are represented by:

         Robert S. Brady, Esq.
         Sean M. Beach, Esq.
         Ryan M. Bartley, Esq.
         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, DE 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1253

                     About Boomerang Tube

Boomerang Tube, LLC, is a manufacturer of welded Oil Country
Tubular Goods ("OCTG") in the United States.  OCTG are used by
drillers in exploration and production of oil and natural gas and
consist of drill pipe, casing and tubing.  Boomerang has corporate
offices in Chesterfield, Missouri and manufacturing facilities in
Liberty, Texas, strategically located near major steel production
centers and end-user markets.  With a 487,000 square foot plant
that houses two mills and heat treat lines and a contingent 119
acres, these facilities constitute the second largest alloy OCTG
mill in North America.  Access Tubulars, LLC, owns 81% of the
equity interests in Boomerang.

Boomerang Tube and its subsidiaries BTCSP LLC and BT Financing
sought Chapter 11 protection (Bankr. D. Del. Lead Case No.
15-11247) on June 9, 2015, with a deal with lenders on a balance
sheet restructuring that would convert $214 million of debt to
100% of the common stock of the reorganized company.

The cases are assigned to Judge Mary F. Walrath.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, as
attorneys; Lazard Freres & Co. LLC, as financial advisor; and
Donlin, Recano & Co., Inc., as claims and noticing agent.


BROWN MEDICAL: Bid to Dismiss Suit Against Hoffman Firm Granted
---------------------------------------------------------------
Judge Nancy F. Atlas of the United States District Court for the
Southern District of Texas, Houston Division, ruled on motions to
dismiss the fraudulent transfer claims filed by the Brown Medical
Center, Inc.'s Chapter 11 Plan Agent.

Judge Atlas granted the motions to dismiss filed by Robert S.
Hoffman, the Law Offices of Robert S. Hoffman, P.L.L.C., Jedediah
D. Moffett, and Jedediah D. Moffett, P.C. (collectively,
"Hoffman/Moffett"), Marshall Davis Brown, Jr., Pavlas, Brown &
York, LLP, and Pavlas & Brown, LLP (collectively, "MDBrown") as to
the actual fraud claims, but denied the motions as to the
constructive fraud claims.

Judge Atlas also dismissed all claims against Claudia Canales, P.C.
and Claudia Canales (collectively, "Canales"), and Joseph
Indelicato, Jr. and the Law Offices of Joseph Indelicato, Jr., P.C.
(collectively, "Indelicato").

Elizabeth Guffy, the Plan Agent under the confirmed Chapter 11 Plan
of Liquidation in the BMC bankruptcy, filed an adversary proceeding
seeking to avoid certain attorneys fees and other payments to
defendants Hoffman/Moffett, MDBrown, Canales and Indelicato as
fraudulent transfers.  Hoffman/Moffett and MDBrown represented
Rachel Brown in her divorce proceedings against Michael Brown, the
owner of 100% of the shares of BMC.  Canales was appointed by the
state court as an Amicus Attorney to represent the interests of the
Browns' minor children.  Indelicato was appointed by the state
court as the Master in Chancery with authority over certain issues
in the divorce proceedings.

Guffy alleged that BMC had no independent legal obligation to make
the transfers, which were for Brown's sole benefit, and asserted
constructive fraudulent transfer claims under 11 U.S.C. Section
548(a)(1)(B) and under the Texas Uniform Fraudulent Transfer Act
(TUFTA) Section 25.005(a)(2) and Section 25.006(a).  Guffy also
asserted claims of actual fraudulent transfers under Sections
528(a)(1)(A) and under TUFTA Section 25.005(a)(1).

Judge Atlas held that Guffy adequately alleged her constructive
fraudulent transfer claims under 11 U.S.C. Section 548(a)(1)(B) and
the TUFTA.  However, the judge found that Guffy has failed to
allege a factual basis for the claim of actual fraud beyod the
allegations of insolvency and inadequate consideration that support
the constructive fraud claim.  Absent allegations of fact that are
stated with particularity, Judge Atlas thus granted the motions to
dismiss the actual fraud claims as to all the defendants.

Judge Atlas also dismissed all fraudulent transfer claims against
the court-appointed attorneys whose payment of fees were pursuant
to orders of the state court.  The judge held that Canales is
immune from suit for damages for her receipt of funds transferred
pursuant to court order in connection with her appointment and
service as the Amicus Attorney in the Brown divorce proceeding.
Judge Atlas also held that Indelicato derived judicial immunity for
the performance of the tasks the state court ordered him to
undertake.

The case is In re Brown Medical Center, Inc., Debtor. Elizabeth M.
GUFFY, Plan Agent, Plaintiff, v. MARSHALL DAVIS BROWN, JR., et al.,
Defendants, Civil Action No. 16-0084 (S.D. Tex.).

A full-text copy of Judge Atlas' March 2, 2016 memorandum and order
is available at http://is.gd/1kOnv6from Leagle.com.

Brown Medical Center, Inc. is represented by:

          Spencer D. Solomon, Esq.
          NATHAN SOMMERS JACOBS PC
          2800 Post Oak Boulevard, 61st Floor
          Houston, TX 77056
          Tel: (713)960-0303
          Fax: (713)892-4800

Elizabeth Guffy is represented by:

          Aaron J Power, Esq.
          Amy Kathleen Wolfshohl, Esq.
          Joshua Walton Wolfshohl, Esq.
          Stephanie Lindsay Holcombe, Esq.
          PORTER HEDGES LLP
          1000 Main Street, 36th Floor
          Houston, TX 77002
          Tel: (713)226-6000
          Fax: (713)228-1331
          Email: apower@porterhedges.com
                 awolfshohl@porterhedges.com
                 jwolfshohl@porterhedges.com
                 sholcombe@porterhedges.com

Marshall Davis Brown, Jr, Pavlas, Brown & York, LLP, Pavlas & Brown
LLP are represented by:

          Preston T Towber, Esq.
          THE TOWBER LAW FIRM PLLC

Jedediah D Moffet, Jedediah D. Moffet, P.C., Robert S Hoffman, Law
Office of Robert S. Hoffman, P.L.L.C. are represented by:

          Tom Alan Cunningham, Esq.
          CUNNINGHAM DARLOW LLP
          919 Milam Street, Suite 575
          Houston, TX 77002
          Tel: (713)255-5500
          Fax: (713)255-5555
          Email: tcunningham@cunninghamdarlow.com

                    About Brown Medical

Houston, Texas-based Brown Medical Center, Inc., is a management
company that historically served as the epicenter of the operating
business enterprise directly or indirectly owned or controlled by
Michael Glyn Brown, including six surgery centers and related
facilities.  The Company sought protection under Chapter 11 of the
Bankruptcy Code on Oct. 15, 2013 (Case No. 13-36405, Bankr.
S.D.Tex.).  The case is assigned to Judge Marvin Isgur.

Brown Medical Center is represented by Spencer D. Solomon, Esq.,
at Nathan Sommers Jacobs, P.C., in Houston, Texas.

In November 2013, the Bankruptcy Court approved the appointment of
Elizabeth M. Guffy as Chapter 11 trustee.  The trustee hired
Porter Hedges LLP, led by Joshua W. Wolfshohl, Esq., John F.
Higgins, Esq., and James Matthew Vaughn, Esq., Nick D. Nicholas,
Esq., J. Patrick LaRue, Esq., and Craig M. Bergez, as counsel.
The trustee tapped The Claro Group, LLC, as financial advisor and
consultant.

In its schedules, Brown Medical listed $13,807,746 in assets and
$27,716,168 in liabilities.  Brown Medical owes Crown Financial
Funding, LP, the primary secured creditor, pursuant to a pre-
bankruptcy promissory note in the original principal amount of
$2 million, which indebtedness is secured by a security agreement
from Allied Center for Special Surgery, Scottsdale, LLC covering
accounts and accounts receivable which the Debtor has the right to
collect.

The plan of liquidation filed by the Chapter 11 trustee became
effective on Oct. 1, 2014.  Under the Plan, the remaining assets,
including cash and the right to receive a portion of the net
proceeds from ongoing collection of accounts receivable, will vest
in the "liquidating debtor" -- the company after the effective
date of the plan.


BUFFETS LLC: Hires Bridgepoint to Provide CRO
---------------------------------------------
Buffets, LLC, et al. seek authorization from the U.S. Bankruptcy
Court for the Western District of Texas to employ Bridgepoint
Consulting as financial advisors and provide William R. Patterson
as chief restructuring officer for the Debtors, nunc pro tunc to
the March 7, 2016 petition date.

The services to be provided by Bridgepoint and the Bridgepoint
Professionals may include the following:

   -- assist the Debtors and their counsel with general matters
      related to the filing of the Cases;

   -- review of financial information pertaining to the Debtors'
      assets, liabilities, cash flows, financial statements, and
      projections;

   -- produce a 13-week cash budget and operating projection;

   -- analyze payables and vendors to determine status under the
      Perishable Agriculture Commodities Act and critical vendor
      status;

   -- assess and determine, in conjunction with counsel and the
      Debtors, vendors with a payment priority, and communication
      strategy;

   -- perform a high level review of real estate leases regarding
      rents/taxes/default provisions;

   -- work with the Debtors, and their other professionals, to
      complete the schedules and the Statement of Financial
      Affairs, any amendments necessary, and the Monthly Operating

      Reports required by the Office of the United States Trustee;

   -- assist the Debtors and counsel with preparation for
      hearings, testimony, creditors meetings, and creation of
      supporting exhibits and motions needed during pendency of
      the Cases;

   -- assist the Debtors with exploring DIP financing, or a sale
      of any of the businesses or assets, if necessary;

   -- work with the Debtors and counsel to develop the appropriate
      plan and disclosure statement documents, including a
      liquidation analysis and estimation of creditor recoveries;

   -- assist the Debtors and counsel with litigation support and
      forensic analysis, where appropriate;

   -- review financial information exchanged between the Debtors
      and their creditors, any regulatory agencies, consultants,
      prospective investors or other third parties, as may be
      necessary or appropriate;

   -- the CRO shall be responsible for managing the "working
      group" of professionals who are assisting the Debtors in the

      reorganization process to improve coordination of their
      effort and work product to be consistent with the Debtors'
      overall restructuring goals; and

   -- the CRO and Bridgepoint shall perform such other services as

      may be agreed upon between the parties.

The hourly billing rate for the CRO is $425. The hourly billing
rates for any Additional Personnel will be at the rate of $60-$400,
depending on the staff member assigned.

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

In connection with the retention of Bridgepoint and Mr. Patterson
by the Debtors, Bridgepoint received a prepetition retainer of
$50,000. A portion of this retainer was disbursed prepetition to
Bridgepoint for amounts incurred before the Petition Date. The
balance of the retainer is $36,582.16 and will remain on account
until the end of the case.

Mr. Patterson 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.

Bridgepoint can be reached at:

       William R. Patterson
       BRIDGEPOINT CONSULTING
       6300 Bridge Point Pkwy #1-575
       Austin, TX 78730
       Tel: (512) 437-7900
       Fax: (512) 437-7923
       E-mail: bpatterson@bridgepointconsulting.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.



CASA MEDIA: Third Exclusivity Extension Request Granted
-------------------------------------------------------
The Hon. Robert A. Mark of the U.S. Bankruptcy Court for the
Southern District of Florida granted Casa Media Partners, LLC and
Casa en Denver, Inc.'s third request for an extension of their
exclusive periods.

The Court extended the Debtors' exclusive period to file a chapter
11 plan and disclosure statement until March 22, 2016; and solicit
acceptances for that plan until May 23, 2016.

The Debtors related that they needed additional time as to the
outcome of the settlement discussions between the parties may
impact the terms of the Debtors' proposed plan.

The Debtors and Bank of Commerce have been involved in substantive
settlement discussions stemming from an in-person settlement
conference held between the parties on July 9, 2015 in New York
City.  

The Debtors are represented by:

         Michael C. Foster, Esq.
         Kristopher E. Aungst, Esq.
         TRIPP SCOTT, P.A.
         110 S.E. 6th Street, 15th Floor
         Fort Lauderdale, FL 33301
         Tel: (954) 525-7500
         Fax: (954) 761-7500
         E-mail: kea@trippscott.com
                 mcf@trippscott.com

                         About Casa Media

Casa Media Partners, LLC, and Casa en Denver, Inc. commenced
Chapter 11 bankruptcy cases (Bankr. S.D. Fla. Case Nos. 15-16741
and 15-16746) in Miami, Florida on April 15, 2015.  The petition
was signed by Juan Salvador Gonzalez, the chief financial officer.

Judge Hon. Robert A Mark presides over the cases.  The Debtors are
represented by Kristopher Aungst, Esq., at Tripp Scott, P.A., as
their counsel.  According to the docket, the deadline to file
claims for governmental units is on Oct. 13, 2015.


CHAMPION INDUSTRIES: Incurs $270,000 Net Loss in First Quarter
--------------------------------------------------------------
Champion Industries, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $270,372 on $15.92 million of total revenues for the three
months ended Jan. 31, 2016, compared to a net loss of $467,818 on
$14.80 million of total revenues for the three months ended
Jan. 31, 2015.

As of Jan. 31, 2016, the Company had $22.89 million in total
assets, $21.15 million in total liabilities and $1.74 million in
total shareholders' equity.

As of Jan. 31, 2016, the Company had cash of $39,000.  This is
compared to $0.5 million at the Company's fiscal year end Oct. 31,
2015.  This change is strictly timing and is dependent on
collection of accounts receivable and subsequent disbursement to
vendors.  The Company has been able to successfully operate under
this condition for almost two years, and during this time has
maintained stability in payments to its vendors and thus restored
its good credit standing.  According to the Company, this has been
accomplished by communicating with its vendors and establishing
consistency in payment of trade payables as well as monitoring
collections of trade receivables.  The Company anticipates being
able to continue this so long as it is able to keep operating
losses in line with prior years, at a minimum.  In the near term
the Company believes it will be able to accomplish this and thus
continue its recovery efforts.

At Jan. 31, 2016, the Company had working capital of $1.6 million.
This working capital figure includes $2.5 million in debt owed to
the Company's Chairman of the Board of Directors that it
anticipates converting to preferred equity in the near term.

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

                        http://is.gd/QJ3HDL

                     About Champion Industries

Champion Industries, Inc., is engaged in the commercial printing
and office products and furniture supply business in regional
markets east of the Mississippi River.  The Company also publishes
The Herald-Dispatch daily newspaper in Huntington, West Virginia
with a total daily and Sunday circulation of approximately 23,000
and 28,000.

Champion Industries reported a net loss of $1.19 million on $61.28
million of total revenues for the year ended Dec. 31, 2015,
compared to a net loss of $1.13 million on $63.52 million of total
revenues for the year ended Oct. 31, 2014.


CHARTER FACILITIES: S&P Lowers Rating on $16.99MM Bonds to 'B-'
---------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating to
'B-' from 'BB-' on Indiana Finance Authority's $16.99 million
series 2013A educational facilities revenue bonds and $260,000
series 2013B taxable educational facilities revenue bonds, both
issued for Charter Facilities Management Indianapolis LLC (on
behalf of Lighthouse Academies of Indianapolis Inc. or LAI).  The
outlook is stable.

"The downgrade reflects our view of multi-year covenant violations
by LAI resulting from declining operations and declining
unrestricted reserves in draft audit fiscals 2015 and 2014," said
Standard & Poor's credit analyst Robert Dobbins.  "We understand
that operations suffered, in part, as a result of the Monument
Lighthouse Charter School closure," Mr. Dobbins added.

LAI schools are located in the greater Indianapolis area.
Indianapolis' youth population is projected to decline by 1.2% over
the next five years, which S&P anticipates will decrease demand for
primary education services over time.


CLEVELAND BIOLABS: Provides Update on Pre-EUA Review of Entolimod
-----------------------------------------------------------------
Cleveland BioLabs, Inc., announced an update on the regulatory
review of its pre-Emergency Use Authorization (pre-EUA) submission
for entolimod as a radiation countermeasure following the receipt
of minutes from a recent meeting with the U.S. Food and Drug
Administration.

As part of the company's response to pre-EUA review comments
received from the FDA, a meeting was held with the Agency to
discuss various aspects of entolimod manufacturing.  At this
meeting, and subsequently confirmed by the FDA's official minutes
of the meeting, it was determined that an in vivo study will be
necessary to establish bio-comparability between the entolimod drug
formulation proposed for use under the pre-EUA and the drug
formulation used in previously conducted preclinical and clinical
studies.  The FDA indicated that further review of the pre-EUA
dossier would not proceed until these bio-comparability data have
been evaluated by the Agency.  The design of the bio-comparability
study is currently in development and will need to be agreed upon
with the FDA before the study is executed.

Yakov Kogan, PhD, MBA, chief executive officer of Cleveland
BioLabs, commented, "While this FDA request has temporarily slowed
our progress, we remain fully committed to the pursuit of pre-EUA
status and commercialization for entolimod. We will provide further
updates regarding the estimated timing for performance and
reporting of the study once the design is finalized.  Our goals are
to satisfy the FDA's request and facilitate continued regulatory
review of the pre-EUA dossier for entolimod as soon as possible."

                   About Cleveland BioLabs

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

Cleveland reported a net loss of $13.04 million on $2.70 million of
grants and contracts revenues for the year ended Dec. 31, 2015,
compared to net income of $35,366 on $3.70 million of grants and
contracts revenues for the year ended Dec. 31, 2014.

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


CONGREGATION BIRCHOS: Court to Hear Plan Confirmation March 24
--------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of New York is
set to hold a hearing on March 24 to consider approval of the
Chapter 11 plan of reorganization proposed by TD Bank N.A. for
Congregation Birchos Yosef.

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

Under the plan, TD Bank's $9.2 million secured claim will be paid
from the sale proceeds.  In case the net proceeds are less than the
amount of the secured claim, the deficiency portion will be treated
as an unsecured claim.

General unsecured claims estimated at $1 million will be paid in
full from the available cash or the litigation proceeds.  

Meanwhile, mechanic's lien claims), if allowed, will be paid from
the net proceeds from the sale of the 201 Route 306 property,
according to court filings.

                 About Congregation Birchos Yosef

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

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

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

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


CRAIG ENERGY: Chapter 11 Case Converted to Chapter 7
----------------------------------------------------
Craig Energy, LLC, sought and obtained from Judge Howard R.
Tallman, of the U.S. Bankruptcy Court for the District of Colorado,
an order converting its Chapter 11 case to a liquidation under
Chapter 7.

The Debtor related that none of the limitations set forth in
Section 1112(a) of the Bankruptcy Code apply to its Chapter 11
bankruptcy case.  The Debtor contended that its request to convert
its case is made in good faith and is not an abuse of process.  The
Debtor further contended that there are no other extraordinary
circumstances that would limit the Debtor's absolute right to
convert.

Craig Energy, LLC, is represented by:

         John C. Smiley, Esq.
         Harrie F. Lewis, Esq.
         LINDQUIST & VENNUM LLP
         600 17th Street, Suite 1800 South
         Denver, CO 80202-5441
         Telephone: (303)573-5900
         Facsimile: (303)573-1956
         E-mail: jsmiley@lindquist.com
                 hlewis@lindquist.cin

                        About Craig Energy

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


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

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


DANIER LEATHER: Makes Assignment Under Canada's BIA
---------------------------------------------------
Danier Leather Inc. on March 21 disclosed that, with the
authorization and approval of its board of directors (the "Board"),
on March 21, 2016 the Company voluntarily made an assignment in
bankruptcy pursuant to the provisions of the Bankruptcy and
Insolvency Act (Canada) ("BIA").  The Company also disclosed that
all of the directors of Danier have resigned with effect
immediately upon the assignment in bankruptcy.  KSV Kofman Inc. has
been appointed as the trustee in connection with the bankruptcy
proceedings (the "Trustee").  Danier has also obtained an order of
the Ontario Superior Court of Justice appointing KSV Kofman Inc. as
receiver over all of its property, assets and undertaking.  The
receivership will run concurrently with the bankruptcy and is
intended to, among other things, facilitate an orderly wind-down of
the Company.

As previously announced, as a result of the Company's ongoing
financial difficulties and after extensively exploring its
restructuring and strategic alternatives, on February 4, 2016 the
Company commenced insolvency proceedings by filing a notice of
intention to make a proposal (the "NOI") pursuant to the BIA.  In
connection with the proposal proceedings, the Company conducted a
sale and investor solicitation process (the "SISP"), which process
has since been completed.  The Trustee acted as the proposal
trustee under the NOI proceedings.

Following the Company's prior announcement of the filing of the NOI
under the BIA, trading in the Company's subordinate voting shares
(the "Shares") on the Toronto Stock Exchange ("TSX") was suspended
and the TSX delisted the Shares effective at the close of business
on March 17, 2016 for failure to meet the TSX's continued listing
requirements.  On February 17, 2016, the Company's principal
securities regulator, the Ontario Securities Commission, issued a
cease trade order that ceased all trading in securities of the
Company for failure to file certain continuous disclosure
materials.

                      About Danier Leather

Danier Leather Inc. (CA:DLSV) -- http://www.danier.com-- is a
designer, manufacturer, and retailer of high-quality leather and
suede clothing and accessories.  The Company's merchandise is
marketed exclusively under the Danier brand name and is available
at its shopping mall, street-front and outlet stores as well as the
online store.


DETECTOR EXPLORATION: Board Members Step Down After Receivership
----------------------------------------------------------------
Detector Exploration Ltd. on March 17 disclosed that effective
immediately Stephen N. Ewaskiw and
Kevin J. Keenan have resigned as Directors of Detector Exploration
Ltd.

All members of The Board of Director's of Detector Exploration Ltd.
have resigned as of March 17, 2016.

Detector Exploration Ltd. fell into insolvency on February 22, 2016
at which time Hardie & Kelly were accepted as Receivers according
to Receivership Action (No. 1601-01680) of The Court of Queen's
Bench of Alberta.

Detector Exploration Ltd. is a Canada-based exploration company.
The Company is engaged in the exploration for and development of
oil and natural gas properties in western Canada.


DF SERVICING: Files Amended Schedules of Assets & Liabilities
-------------------------------------------------------------
DF Servicing, LLC, filed with the U.S. Bankruptcy Court for the
District of Puerto Rico its amended schedules of assets
liabilities, disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $2,160,000
  B. Personal Property            92,501,859
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                               $99,948,965
  E. Creditors Holding
     Unsecured Priority
     Claims                                                $0
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                       $59,844,292
                                 -----------      -----------
        Total                    $94,661,859     $159,793,257

A copy of the amended schedules is available for free at:
http://is.gd/LCYtJ8

                        About DF Servicing

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


DF SERVICING: Joint Administration of Cases Granted
---------------------------------------------------
U.S. Bankruptcy Judge Enrique Lamoutte Inclan has approved the
administrative consolidation of the Chapter 11 cases of DF
Servicing, LLC, DF Tier I, LLC, DF Investments, LLC, and DF
Holdings LLC.  The Chapter 11 cases will be consolidated and
jointly administered under Case No. 15-10253.

                        About DF Servicing

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


DUCOMMUN INC: S&P Affirms 'B+' CCR, Outlook Remains Positive
------------------------------------------------------------
Standard & Poor's Ratings Services said that it has affirmed all of
its ratings, including its 'B+' corporate credit rating, on
Ducommun Inc.  The outlook remains positive.

"The affirmation reflects our expectation that, despite the
company's weak results in 2015, Ducommun's credit ratios will
improve to our previously forecasted levels by the end of 2016 as
management's debt reduction efforts offset the company's weaker
earnings," said Standard & Poor's credit analyst Tennille Lopez.
"We expect the company's debt-to-EBITDA metric to decline below
3.5x while its FFO-to-debt ratio increases to around 20% over the
next 12 months."

The positive outlook reflects that, although S&P expects Ducommun's
revenues to decline further in 2016 because of its recent
divestitures and flat military sales, the company's credit ratios
and EBITDA margins should still improve as it uses its free cash
flow to reduce its debt and management continues to implement
cost-savings initiatives.

S&P could revise its outlook on Ducommun to stable if the company's
sales and earnings decline by more than S&P expects in 2016, most
likely due to lower-than-expected military demand or an inability
to reduce its costs.  S&P could also revise the outlook to stable
if the company fails to reduce its debt because of acquisitions,
leading it to post a FFO-to-debt ratio of less than 15% or a
debt-to-EBITDA metric approaching 4x.

S&P could raise its rating on Ducommun over the next 12 months if
it continues to reduce its debt and its cost-reduction efforts
improve its earnings such that its FFO-to-debt ratio rises above
20% and its debt-to-EBITDA metric falls below 3.5x.


EIDOS LLC: Rejects Stairway's Bid for Dismissal of Case
-------------------------------------------------------
Eidos, LLC, and its affiliated debtors submitted to the U.S.
Bankruptcy Court for the Eastern District of Virginia, Alexandria
Division, an objection to the motion filed by Stairway Capital
Management II L.P. seeking the dismissal of their Chapter 11 cases,
or in the alternative, relief from the automatic stay.

The Debtors tell the Court that they filed their bankruptcy cases
in good faith seeking bankruptcy relief in an effort to preserve
and protect their assets for the benefit of all creditors.  The
Debtors further tell the Court that their principal assets are:
(i) patents and a related patent enforcement action ("ALPS
Enforcement Action"); (ii) a certain Contingent Loss Reimbursement
Policy ("Insurance Policy"); (iii) claims against their insurer,
Ironshore Specialty Insurance Company ("Ironshore"); and (iv)
claims against Stairway, their lender.  The Debtors contend that
while these assets have significant value far exceeding the amount
of the debt owed to their creditors, the Debtors currently have no
funds with which to pursue or protect these assets.

"Having no means to finance the ALPS Enforcement Action and resolve
clams against and asserted by Stairway and Ironshore, the Debtors
had no choice but to file the chapter 11 cases.  The Debtors filed
these cases to invoke the powers and protections of the Bankruptcy
Code and this Court to preserve their assets for the benefit of
creditors.  They also filed these cases to resolve years of
unnecessary and expensive litigation with Stairway that directly
results from Ironshore's failure to honor the $25 million Insurance
Policy.  The Debtors intend to reorganize and monetize their assets
through the prosecution of the ALPS Enforcement Action, thereby
generating funds exceeding the claims of all creditors in these
cases, including the secured claim of Stairway," the Debtors
contend.

          Stairway Capital's Reply to Debtors' Objection

Stairway Capital Management II L.P. contends that the Debtors'
objection is premised on unsupported statements that "the Debtors
lack the financial ability to proceed with the ALPS Enforcement
Action or with an ongoing proceeding before the [AAA]" and that
"the Debtors currently have no counsel to represent them in the
ALPS Enforcement Action or the Arbitration[.]"  Stairway further
contends that these purported "facts" are purely of the Debtors'
creation and self-inflicted solely by their bad faith chapter 11
filings.

"At no time over the past five years of litigation, did Dentons
EVER seek to withdraw because the Debtors could not afford to
continue to defend themselves or prosecute their affirmative claims
either in the Arbitration or the ALPS Patent Litigation.  No motion
has EVER been filed in any court or before the AAA to stay the
Arbitration under the guise that the Debtors could not afford to
proceed or that Dentons would withdraw," Stairway avers.

Eidos, LLC, and its affiliated debtors are represented by:

          Donald F. King, Esq.
          Alexander M. Laughlin, Esq.
          Lauren Friend Mckelvey, Esq.
          ODIN FELDMAN & PITTLEMAN PC
          1775 Wiehle Avenue, Suite 400
          Reston, VA 20190
          Telephone: (703)218-2100
          Facsimile: (703)218-2160
          E-mail: donking@ofplaw.com
                  alex.laughlin@ofplaw.com
                  lauren.mckelvey@ofplaw.com

Counsel for Stairway Capital Management II L.P. is represented by:

          G. David Dean, Esq.
          Jonathan A. Grasso, Esq.
          COLE SCHOTZ P.C.
          300 East Lombard Street, Suite 1450
          Baltimore, MD 21202
          Telephone: (410)528-2972
          Facsimile: (410)528-9402
          E-mail: ddean@coleschotz.com
                  jgrasso@coleschotz.com

                 - and -

          Michael D. Sirota, Esq.
          David M. Bass, Esq.
          COLE SCHOTZ P.C.
          1325 Avenue of the Americas, 19th Floor
          New York, NY 10019
          Telephone: (212)752-8000
          Facsimile: (212)752-8393
          E-mail: msirota@coleschotz.com
                  dbass@coleschotz.com

                         About Eidos, LLC

On Feb. 4, 2016, Eidos LLC and six affiliated debtors each filed a
Chapter 11 bankruptcy petition in the United States Bankruptcy
Court for the Eastern District of Virginia (Alexandria).  The cases
are assigned to Judge Brian F. Kenney.

The Debtors have tapped Odin, Feldman & Pittleman P.C. as their
legal counsel.

Eidos LLC estimated assets of $100 million to $500 million and debt
of $50 million to $100 million.


EVANS & SUTHERLAND: Incurs $1.27 Million Net Loss in 2015
---------------------------------------------------------
Evans & Sutherland Computer Corporation filed with the Securities
and Exchange Commission its annual report on Form 10-K disclosing a
net loss of $1.27 million on $35.3 million of sales for the year
ended Dec. 31, 2015, compared to a net loss of $1.30 million on
$26.5 million of sales for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $23.4 million in total assets,
$24.1 million in total liabilities and a $646,000 total
stockholders' deficit.

                           Liquidity

The Company has experienced recurring annual losses since 2007,
except for 2013.  On April 21, 2015, the Company executed an
agreement which terminated its defined benefit pension plan and
settled the Pension Plan's liabilities in exchange for an
obligation to pay to the Pension Benefit Guaranty Corporation
$10.50 million over twelve years and issue to the PBGC 88,117
shares of E&S treasury stock.  In addition, the Pension Settlement
Agreement has led to a new banking relationship and improved credit
capacity.  Aided by prior cost reduction efforts and improved sales
volume, for the year ended Dec. 31, 2015, the Company has generated
profitable results before recording the pension expense and a
charge for the settlement of the Pension Plan.  The Company is no
longer incurring expenses related to the terminated Pension Plan
but as of Dec. 31, 2015, is responsible for eleven annual
installment payments of $750,000 to the PBGC.  Management believes
that the Company's unrestricted cash balances totaling $3.73
million as of December 31, 2015 and improved credit capacity and
forecasted operations provide sufficient resources to meet the
Company's obligations, including the terms of the Pension
Settlement Agreement, through at least the end of 2016.

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

                       http://is.gd/yvfG2v

                    About Evans & Sutherland

Salt Lake City, Utah-based Evans & Sutherland Computer Corporation
in conjunction with its wholly owned subsidiary, Spitz Inc.,
creates innovative digital planetarium systems and cutting-edge,
fulldome show content.  E&S has developed Digistar 5, the world's
leading digital planetarium with fulldome video playback, real-
time computer graphics, and a complete 3D digital astronomy
package fully integrated into a single theater system.  This
technology allows audiences to be immersed in full-color, 3D
computer-generated interactive worlds.  As a full-service system
provider, E&S also offers Spitz domes, hybrid planetarium systems
integrated with Digistar and a full range of theater systems from
audio and lighting to theater automation.  E&S markets include
planetariums, science centers, themed attraction venues, and
premium large-format theaters.  E&S products have been installed
in over 1,300 theaters worldwide.


FORESIGHT APPLICATIONS: Jury Trial in Suit vs. DRS to Begin Aug. 22
-------------------------------------------------------------------
Judge Robert E. Blackburn of the United States District Court for
the District of Colorado has issued a Second Trial Preparation
Conference Order stating that trial by jury in the case captioned
FORESIGHT APPLICATIONS & SYSTEMS TECHNOLOGIES, LLC, Plaintiff, v.
DOCUMENT RECOVERY SOLUTION, LLC, et al, Defendants, Civil Action
No. 14-cv-03169-REB (D. Colo.), will commence August 22, 2016 at
8:30 a.m. (MDT), in courtroom A1001, located on the 10th Floor
North, of the Alfred A. Arraj, United States Courthouse Annex, 901
19th Street, Denver, Colorado 80294.

A combined Final Pretrial Conference and Trial Preparation
Conference will commence on July 28, 2016, at 10:00 a.m. (MDT) in
courtroom A1001.

The bankruptcy case is In re: FORESIGHT APPLICATIONS & SYSTEMS
TECHNOLOGIES, LLC, Chapter 11, Debtor, Bankruptcy Case No.
13-13290-SBB, Adversary Proceeding No. 14-01237-SBB (Bankr. D.
Colo.).

A full-text copy of Judge Blackburn's March 3, 2016 order is
available at http://is.gd/GEQKpYfrom Leagle.com.

Foresight Applications & Systems Technologies, LLC is represented
by:

          Devon Joseph Eggert, Esq.
          Elizabeth L. Janczak, Esq.
          Terrence Joseph Sheahan, Esq.
          FREEBORN & PETERS
          311 South Wacker Drive
          Suite 3000
          Chicago, IL 60606
          Tel: (312) 360-6000
          Fax: (312) 360-6520
          Email: deggert@freeborn.com
                 ejanczak@freeborn.com

Document Recovery Solution, LLC and Joshua Dinar are represented
by:

          David Michael Miller, Esq.
          BERENBAUM WEINSHINK, PC

Harvey Sender, not individually but solely as chapter 7 trustee for
the estate of Foresight Applications & Systems Technologies, LLC,
Trustee, is represented by:

          Devon Joseph Eggert, Esq.
          Terrence Joseph Sheahan, Esq.
          FREEBORN & PETERS
          311 South Wacker Drive
          Suite 3000
          Chicago, IL 60606
          Tel: (312) 360-6000
          Fax: (312) 360-6520
          Email: deggert@freeborn.com

                    About Foresight Applications

Foresight Applications & Systems Technologies, LLC, sought
protection under Chapter 11 of the Bankruptcy Code on March 7, 2013
(Bankr. D. Colo., Case No. 13-13290).  The case is assigned to
Judge Sidney B. Brooks.  The Debtor's counsel is John C. Smiley,
Esq., at Lindquist & Vennum PLLP, in Denver, Colorado.


FORESIGHT ENERGY: S&P Lowers CCR to 'D' on Missed Interest Payment
------------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
rating on St. Louis-based Foresight Energy L.P. to 'D' from
'CCC-'.

S&P also lowered its issue-level rating on the partnership's
first-lien debt to 'D' from 'CCC+'.  In addition, S&P lowered its
issue-level rating on the company's senior unsecured notes to 'D'
from 'CCC-'.

"We consider a timely payment to be no later than the stated grace
period or 30 calendar days," said Standard & Poor's credit analyst
Vania Dimova.  "The 'D' rating reflects Foresight's failure to make
a timely interest payment.  The company has triggered multiple
default events as a result of the missed payment."

As of Feb. 29, 2016, Foresight had approximately $21.9 million cash
on hand and approximately $50 million of interest payments due in
the next six months on its outstanding debt.  The company does not
have access to its $550 million revolving credit facility due to
the Dec. 4, 2015 court opinion.

Foresight was in compliance with the covenants under the revolving
credit agreement as of Dec. 31, 2015; however, there is uncertainty
over its ability to comply with the covenants in 2016 due to the
difficult coal market conditions and a material liquidity shortage.
This also reflects the inclusion of a going-concern explanation by
the company's auditors in its 2015 consolidated financial
statements.


FREEDOM COMMUNICATIONS: Court Approves Asset Sale to Digital First
------------------------------------------------------------------
Noah Smith and Ravi Somaiya, writing for The New York Times'
DealBook, reported that Tribune Publishing won an auction for the
assets of Freedom Communications, the parent company of The Orange
County Register and The Press-Enterprise of Riverside, Calif.  A
bankruptcy judge, however, on March 21, approved the sale of
Freedom to Digital First Media, Inc., the stalking horse bidder.

As previously reported by The Troubled Company Reporter, Tribune
Publishing, which also owns The Los Angeles Times, The San Diego
Union-Tribune, and The Chicago Tribune, was ultimately declared the
winning bidder at the March 16 bankruptcy auction.  The $56 million
deal, however, is being challenged by the U.S. government, which
filed a lawsuit on March 17 in U.S. District Court in Los Angeles,
Calif.  The goverment seeks to block Tribune from closing its
acquisition of Freedom's assets, saying the sale poses antitrust
issues.  The move was followed by a temporary restraining order,
the DealBook said.

According to the report, because Freedom Communications is in
bankruptcy proceedings and will run out of operating capital by the
end of the month, the company applied to be allowed to name Digital
First Media as the successful bidder.  Its offer was about $52
million, the news agency noted.

"The Tribune bid was more money to our constituents, but we have to
work with what is achievable and what is not, within the time
frame," Robert J. Feinstein of the law firm Pachulski Stang Ziehl &
Jones, which works for the committee representing the creditors of
Freedom Communications, told the DealBook.

Tribune Publishing, the DealBook said, did not raise any objections
at the March 21 hearing, but Jeremy Rosenthal, a lawyer for the
company, called the Justice Department's assessment of the state of
competition in the newspaper industry "antiquated and unrealistic."
The government had failed to take into account the fact that the
media landscape had fundamentally changed, Mr. Rosenthal told the
news agency.  The web and social media, not The Los Angeles Times,
were the main alternatives to the local papers for those seeking
news, he added.

William J. Kolasky, a lawyer for Digital First Media, which also
owns other California newspapers, including The Los Angeles Daily
News and The San Jose Mercury News, told the DealBook that the
action by the Justice Department was unusual because, in his
experience, lawyers most often consult with the government at
earlier stages of a bankruptcy sale.

                         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.


FRONTIER STAR: Approval of Western Alliance Settlement Sought
-------------------------------------------------------------
P. Gregg Curry, Chapter 11 Trustee, asks the U.S. Bankruptcy Court
for the District of Arizona, to approve the Settlement and
Compromise that he has entered into with Western Alliance Bank.

The Debtors are obligated to Western Alliance under a certain Loan
Agreement and associated documents in the approximate amount of $25
million.  The Chapter 11 Trustee obtained a postpetition financing
facility from Western Alliance in the amount of
$7.9 million, which includes $5 million for the Trustee's
operations.   The Chapter 11 Trustee relates that he has been able
to limit draws on the DIP Facility, which had a balance of
approximately $3.4 million as of February 29, 2016.

Western Alliance asserts a lien on substantially all of the
Debtors' assets.  The Chapter 11 Trustee tells the Court that he
has investigated the validity, priority, and extent of Western
Alliance's liens, as well as potential avoidance actions that he
could assert against Western Alliance.  The Chapter 11 Trustee
further tells the Court that in connection with the proposed sale
of substantially all of the Debtors' assets to Starcorp LLC, he has
negotiated with Western Alliance to reach a compromise regarding
Western Alliance's liens and the disposition of the proceeds of the
sale.

The Settlement contains, among others, these principal terms:

     (a) Private Sale of Assets: Because the parties believe that
no other parties who are qualified Carl's Jr. and Hardee's
franchisees are likely to be willing and able to purchase the
Assets at a higher price than that offered by the Buyer, and in the
interest of closing the transaction sooner and thereby preserving
value, the Sale Motion will be modified to request that the Assets
be sold to the Buyer for a base purchase price of $41 million
without further bidding or an auction process.

     (b) Pizza Revolution Proceeds: The net proceeds of the sale of
the assets of the Debtors' non-debtor subsidiary Pizza Revolucion,
LLC will be paid to Western Alliance for application to the
Debtors' obligations.

     (c) Equipment Loan/Lease Claims: Up to $1.3 million of the
Sale Proceeds will be made available to permit the Trustee to
satisfy cure obligations or payoff amounts owed to lessors or
lenders with interests in equipment that is or may be included in
the Assets transferred to the Buyer, if the Buyer does not assume
these obligations.  To the extent that these funds are not required
for these purposes, any excess will be paid to Western Alliance for
application to the Debtors' obligations.

     (d) Franchisor Cure Obligations: $6.75 million of the Sale
Proceeds and possibly additional amounts, will be made available to
permit the Trustee to satisfy cure obligations under the Debtors'
leases and franchise agreements with Carl's Jr. Restaurants LLC and
Hardee's Restaurants LLC (the "Franchisors").  Since the filing of
the Sale Motion, the Trustee and the Franchisors have agreed to an
aggregate cure obligation of $6.75 million, plus certain
unliquidated amounts, for these agreements.

     (e) Other Secured Claims: $1.827 million of the Sale Proceeds
will be made available to permit the Trustee to satisfy state and
local tax claims, mechanics' liens, and materialmen's liens that
have priority over the liens of Western Alliance.  To the extent
that these funds are not required for these purposes, any excess
will be paid to Western Alliance for application to the Debtors'
obligations.

P. Gregg Curry, Chapter 11 Trustee, is represented by:

          Robert J. Miller, Esq.
          Bryce A. Suzuki, Esq.
          Justin A. Sabin, Esq.
          BRYAN CAVE LLP
          Two North Central Avenue, Suite 2200
          Phoenix, AZ 85004
          Telephone: (602)364-7000
          E-mail: rjmiller@bryancave.com
                  bryce.suzuki@byrancave.com
                  justin.sabin@bryancave.com

                 - and -

          Michael W. Carmel, Esq.
          MICHAEL W. CARMEL LTD.
          80 E. Columbus Ave.
          Phoenix, AZ 85012
          Telephone: (602)264-4965
          Facsimile: (602)277-0144
          E-mail: Michael@mcarmellaw.com

                       About Frontier Star

Guadalupe, Arizona-based Frontier Star LLC and Frontier Star CJ LLC
are large Carl's Jr. and Hardee's franchisees operated by three
grandchildren of Carl Karcher, who founded the Carl's Jr. hamburger
chain, now owned by parent company CKE Restaurants, Inc.

The grandchildren include the LeVecke siblings Carl, Margaret and
Jason, who is listed as chief executive officer/manager of both
companies.  The LeVecke siblings had more than 130 Carl's Jr. and
Hardee's franchises in seven states and Puerto Vallarta, Mexico, as
of late 2013.

Frontier Star, LLC and Frontier Star CJ, LLC filed Chapter 11
bankruptcy petitions (Bankr. D. Ariz. Lead Case No. 15-09383) on
July 27, 2015.  The petitions were signed by Jason LeVecke as
CEO/manager.  The Cavanagh Law Firm serves as counsel to the
Debtors.

On Nov. 19, 2015, P. Gregg Curry was appointed as the Debtors'
Chapter 11 trustee.

Frontier Star disclosed $71.9 million in assets and $27.3 million
in debt in its schedules.


FRONTIER STAR: Ch. 11 Trustee Seeks to Sell Assets for $40-Mil.
---------------------------------------------------------------
P. Gregg Curry, the Chapter 11 Trustee of the bankruptcy estates of
Frontier Star, LLC, and its affiliates, asks the U.S. Bankruptcy
Court for the District of Arizona to:

   * approve the sale of substantially all of the Debtors' assets
     pursuant to the terms of an asset purchase agreement;

   * approve the sale of the Assets free and clear of all liens,
     claims, rights, encumbrances, and other interests;

   * provide for the payment of the sale proceeds to certain
     creditors and counterparties and the creation of certain
     reserves;

   * approve the Trustee's compromise with the Debtors'
     franchisors, including a release of all claims against the
     franchisors;

   * approve bidding procedures to establish procedures for the
     Sale to Starcorp, LLC or another purchaser pursuant to a
     purchase and sale agreement;

   * schedule an auction and hearing to consider the Sale of the
     Assets; and

   * approve expense reimbursement.

By the Sale Motion, the Trustee seeks approval of the Sale of the
Assets pursuant to the Sale Agreement, or to the highest or best
bidder for the Assets at the Auction, to take place in accordance
with the proposed Bidding Procedures.  The proposed Sale Agreement
contemplates that the Assets will be sold free and clear of liens,
claims, encumbrances, rights, and other interests, other than those
liens and interests expressly permitted under the Sale Agreement.
All liens, claims, encumbrances, rights, and other interests will
attach to the Sale Proceeds, with proceeds to be distributed or
reserved at closing as ordered by the Court.

The proposed Sale Agreement requires the Trustee to obtain, inter
alia, an order of the Court authorizing and approving the sale of
the Assets to the Buyer pursuant to the terms of the Sale
Agreement, free and clear of all Liens.  The Trustee submits that a
sale of the Assets to the Buyer at this time will maximize the
value of the Debtors' property and, therefore, is in the best
interests of the Debtors' estates and all creditors and all other
parties in interest.

The Trustee seeks authority to sell the Assets, as well as certain
claims and liabilities to be assumed, to the Buyer under the Sale
Agreement executed by between the Trustee and the Buyer on February
29, 2016.  Under the Sale Agreement, the total consideration to be
paid to the Trustee for the Assets consists of $40 million in cash,
plus certain Pre-Paid Rent/Lease Amounts, plus Till Cash Amounts.
The Sale Agreement also provides for the assumption of substantial
liabilities, which will relieve the Debtors' estates of those
obligations.

The physical Assets consist primarily of equipment and inventory at
each of the Franchised Restaurants necessary to operate those
restaurants as a going concern.

The Sale Agreement also incorporates the Franchise Term Sheet among
the Franchisors and the Buyer, which sets forth the terms and
conditions of the Franchisors' consent to the assumption and
assignment of its franchise agreements and Leases, as well as any
agreed-upon modifications thereto.

Following extensive negotiations, the Trustee and the Franchisors
have agreed to certain compromises regarding the Franchisors' cure
claims, including:

   * The Trustee will make timely payments to the Franchisors of
     obligations arising in the ordinary course of business under
     the Leases, franchise agreements, and related agreements
     among the Debtors and the Franchisors from and after
     February 1, 2016, through the date of the closing of the
     Sale;

   * The Trustee will pay the Franchisors prior to the closing of
     the Sale certain obligations referred to by the parties as
     HNAF that arose in 2015, with a remaining balance of
     $114,362;

   * The aggregate cure amount owed to the Franchisors in
     connection with all Leases, franchise agreements, and
     related agreements among the Debtors and the Franchisors
     will be $7,250,000, plus any amounts from the first two
     compromises that are not paid as of the closing date, which
     will be paid to the Franchisors at the closing of the Sale;

   * The Trustee and the Debtors' estates will not have any
     additional cure obligations in connection with the
     assumption or assignment after the closing of the Sale of
     any Leases or franchise agreements among the Debtors and the
     Franchisors, including any Leases or franchise agreements
     that are Subject-to-Determination Agreements; and

   * If the Sale does not close by April 30, 2016, the
     Franchisors may withdraw from this agreement, or the parties
     may negotiate a different cure amount.

The Trustee does not believe that the Sale will include the
transfer to the Buyer of "personally identifiable information" as
that term is defined in Section 101(41A) of the Bankruptcy Code.
The Debtors do not collect or store any personally identifiable
information from their customers.

Pursuant to the Sale Agreement and Section 365 of the Bankruptcy
Code, the Buyer or Successful Bidder may be assigned certain of the
Debtors' unexpired leases and executory contracts.  In addition,
the Sale is conditioned upon the written consent of the
Franchisors.  Their consent is conditioned upon satisfaction of the
terms and provisions of the Franchise Term Sheet, including, inter
alia, the granting of a general release and the full payment of the
Franchisors' cure and administrative claims at closing.

Pursuant to the proposed bidding procedures, the Bid Deadline is on
March 18, 2016, at 12:00 noon (prevailing Arizona Time).  The bid
(standing alone or in combination with another bid) must include,
in the form of an executed asset purchase agreement, an offer to
purchase the Sale Assets, or portion thereof that includes all of
the Hardee's Restaurants or all of the Carl's Jr. Restaurants.  The
Trustee, in consultation with Western Alliance Bank and the
Franchisors, may consider separate bids for all of the Carl's Jr.
Restaurants or all of the Hardee's Restaurants.

If the bid is for all of the Sale Assets, an initial minimum amount
equal to the sum of at least: the APA purchase price, plus the
Expense Reimbursement, plus an overbid amount of $500,000.  If the
Bid APA is for only the Carl's Jr. Restaurants, an initial minimum
amount equal to the sum of at least: the APA purchase price
allocable to the Carl's Jr. Restaurants, plus the Expense
Reimbursement, plus an overbid amount of $250,000.  If the Bid APA
is for only the Hardee's Restaurants, an initial minimum amount
equal to the sum of at least: the APA purchase price allocable to
the Hardee's Restaurants, plus the Expense Reimbursement, plus an
overbid amount of $250,000.

The bid must be accompanied by a good-faith deposit payable to an
escrow agent to be specified by the Trustee in an amount equal to
$1.1 million.

If more than one Qualified Bid has been received, the Trustee will
conduct an auction for the sale of the Sale Assets, which will take
place on March 21, 2016, at 9:00 a.m. (prevailing Arizona Time).

After determining the Successful Bid, the Trustee may, in
consultation with the Bank and the Franchisors, determine which
Qualified Bid is the next highest or otherwise best bid.  The
Trustee will present the Next Best Bid to the Court for approval at
the Sale Hearing.  If the Successful Bidder does not close the
transaction by the date set forth in the Successful Bid, then the
Trustee will be authorized to close with the bidder that submitted
the Next Best Bid, without further court order.

The sale will be on an "as is, where is" basis and without
representations or warranties of any kind, nature, or description
by the Trustee, the Bank, the Franchisors, the Debtors, their
estates, or their respective agents or representatives.

The Trustee proposes that the Auction take place on March 21, 2016.
The Trustee also proposes that the Sale Hearing occur on March 23,
2016.  The Trustee further proposes that objections, if any, to the
Sale Motion or the Assignment Motion be filed on or before 12:00
noon (prevailing Arizona time) on March 18, 2016.

                  Trustee and Bank's Settlement

The Trustee and the Bank entered into a settlement agreement to
allow the proposed Sale to Starcorp to proceed.  The parties agree,
with the concurrence of Carl's Jr. Restaurants LLC and Hardee's
Restaurants LLC, that it is unlikely that other potential
purchasers will be willing to purchase the Assets at a price that
is higher or otherwise better than the price to be paid by
Starcorp.  Accordingly, Trustee and Bank request that the Court
approve the Stipulation in conjunction with the approval of the
Sale Motion, which will be modified to request that the Assets be
sold to Starcorp in a private sale.

The Trustee agrees that the net sale proceeds from the sale of
Pizza Revolucion, LLC, will be paid to the Bank after that sale
closes.  The Bank will apply the amount it receives from the Pizza
Revolucion sale proceeds against the Prepetition Obligations owing
to the Bank in the manner the Bank chooses in its sole discretion.

If the proposed Sale to Buyer is approved pursuant to the Approval
Order, these will apply with respect to the Sale Proceeds:

   * At the closing of the Sale to Buyer, the Bank will receive a
     cash payment from escrow in an amount equal to $23,408,000,
     plus any amount of remaining Sale Proceeds in excess of the
     amounts required to fund the Reserves and the Estate
     Retained Amount, less any amount placed in an Equipment
     Claims Reserve or a Required Tax Reserve, less the amount by
     which the Franchise Cure Amount exceeds $6,750,000.  The
     Bank will apply this initial cash payment against the
     Obligations or the Prepetition Obligations owing to Bank in
     the manner Bank chooses in its sole discretion;

   * The Bank agrees that Trustee may create and hold funds in
     certain reserves.  The Reserves will be funded from the Sale
     Proceeds, and will be held by Trustee in one or more
     segregated accounts separately from the Estate Retained
     Amount and any other assets of the Estates.  The Reserves
     include Potential Reserve for Equipment Claims for
     $1,300,000, Reserve for Franchisor Cure Amounts for
     $6,750,000, Reserve for Secured Tax, Mechanics', and
     Materialmen's Lien Claims for $1,827,000, Reserve for Other
     Real Property Lease Cure Amounts for $2 million, Reserve for
     Certain Executory Contract Obligations for $750,000, Reserve
     for Accrued Postpetition Operating Expenses for $2,215,000,
     Reserve for Estate Professional Fees for $200,000 and Any
     Required Reserve for Other Tax Claims/Interests;

   * Subject to the Bank receiving all payments of Sale Proceeds
     in accordance with the terms of this Stipulation, the Bank
     agrees that Trustee will retain $2,150,000 of the Sale
     Proceeds, free and clear of any claim or interest of Bank,
     for the general benefit of the Estates.

If the sale of the Assets yields additional Sale Proceeds beyond
the amount available under the Starcorp APA, 20% of the excess (as
adjusted to account for any amounts payable to Starcorp and any
differences in any amounts payable to creditors on account of
secured claims, administrative claims, or cure claims prior to
distributions to Bank, whether from Reserves or otherwise) will be
added to the Estate Retained Amount, and the remaining excess will
be paid to Bank at closing for application against the Obligations
or Prepetition Obligations owing to the Bank in the manner the Bank
chooses in its sole discretion, subject to the Sharing Agreement.

By separate motion or stipulation, the Trustee and the Bank will
seek an extension of the Postpetition Financing, including the use
of cash collateral, through March 31, 2016, on mutually agreeable
terms and conditions.

The Ch. 11 Trustee's counsel is:

          Robert J. Miller, Esq.
          Bryce A. Suzuki, Esq.
          BRYAN CAVE LLP
          Two North Central Avenue, Suite 2200
          Phoenix, AZ 85004
          Tel: (602) 264-4965
          Email: rjmiller@bryancave.com
                 bryce.suzuki@bryancave.com

The Ch. 11 Trustee's special counsel is:

          Michael W. Carmel, Esq.
          MICHAEL W. CARMEL LTD.
          80 E. Columbus Ave.
          Phoenix, AZ 85012
          Tel: (602) 364-7000
          Fax: (602) 277-0144
          Email: Michael@mcarmellaw.com

                       About Frontier Star

Guadalupe, Arizona-based Frontier Star LLC and Frontier Star CJ LLC
are large Carl's Jr. and Hardee's franchisees operated by three
grandchildren of Carl Karcher, who founded the Carl's Jr. hamburger
chain, now owned by parent company CKE Restaurants, Inc.

The grandchildren include the LeVecke siblings Carl, Margaret and
Jason, who is listed as chief executive officer/manager of both
companies.  The LeVecke siblings had more than 130 Carl's Jr. and
Hardee's franchises in seven states and Puerto Vallarta, Mexico, as
of late 2013.

Frontier Star, LLC and Frontier Star CJ, LLC filed Chapter 11
bankruptcy petitions (Bankr. D. Ariz. Lead Case No. 15-09383) on
July 27, 2015.  The petitions were signed by Jason LeVecke as
CEO/manager.  The Cavanagh Law Firm serves as counsel to the
Debtors.

On November 19, 2015, P. Gregg Curry was appointed as the Debtors'
Chapter 11 trustee.

Frontier Star disclosed $71.9 million in assets and $27.3 million
in debt in its schedules.


FUHU INC.: Removal Deadline Extended to July 5
----------------------------------------------
U.S. Bankruptcy Judge Christopher S. Sontchi has extended the time
within which Fuhu, Inc., can remove actions by an additional 120
days, through and including July 5, 2016.

                         About Fuhu, Inc.

Fuhu, Inc. and Fuhu Holdings, Inc. filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. 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.
Pachulski Stang Ziehl & Jones LLP represents the Debtors as
counsel.  Judge Christopher S. Sontchi presides over the case.

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.

                          *     *     *

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: Ballard Spahr Approved as Committee's Delaware Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of FUHU, Inc. et al., asks the S. Bankruptcy Court for the
District of Delaware for permission to retain Ballard Spahr LLP as
its Delaware counsel nunc pro tunc to Dec. 16, 2015.

Ballard Spahr, as its Delaware counsel, will, among other things:

   (a) advise on local practices and procedures and determinative
case law within the jurisdiction;

   (b) attend the meetings of the Committee; and

   (c) review and analyze various applications and motions
submitted to the Court.

Compensation will be payable to Ballard Spahr on an hourly basis,
plus reimbursement of actual, necessary expenses and other charges
incurred by the firm.

Ballard Spahr has not been paid any retainer against which to bill
fees and expenses.

Tobey M. Daluz, a partner at Ballard Spahr, tells the Court that
professional having primary responsibility on the engagement and
their hourly rates are:

         Tobey M. Daluz, partner             $860
         Matthew G. Summers, partner         $650
         Leslie C. Heilman, associate        $505
         Jessica C. Watt, associate          $335
         Jason E. Kittinger, paralegal       $230

To the best of the Committee's knowledge, Ballard Spahr represents
no interest adverse to the Committee, the Debtors, their estates,
or any other party-in-interest in the matters upon which it is to
be engaged.

The firm can be reached at:

         Tobey M. Daluz, Esq.
         Matthew G. Summers, Esq.
         Leslie C. Heilman, Esq.
         Jessica C. Watt, Esq.
         BALLARD SPAHR LLP
         919 N. Market Street, 11th Floor
         Wilmington, DE 19801
         Tel: (302) 252-4465
         Fax: (302) 252-4466
         E-mail: daluzt@ballardspahr.com
                 summersm@ballardsphar.com
                 heilmanl@ballardspahr.com
                 wattj@ballardspahr.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: Panel Taps PricewaterhouseCoopers as Financial Advisor
----------------------------------------------------------------
The Official Committee of Unsecured Creditors in the Chapter 11
cases of FUHU, Inc. et al., asks the U.S. Bankruptcy Court for the
District of Delaware to retain PricewaterhouseCoopers LLP as its
financial advisor nunc pro tunc to Dec. 18, 2015.

PwC, as financial advisor, will, among other things:

   (a) review and analyze proposed bids, transactions and motions
for which the Debtors seeks Court approval;

   (b) assist the Committee in developing, evaluating, structuring
and negotiating the terms and conditions of offers received on the
sale of the Debtors' assets; and

   (c) attend meetings with the Debtors, its advisors, the
Committee and other key parties-in-interest, if required.

The fees for the advisory services will be based on the agreed upon
hourly rates, however, as agreed with the Committee, PwC will cap
all hourly rates at $425 per hour.  Adjusted rates will be
reflected in billings.  

The current hourly rates are:

         Personnel                        Hourly Billing Rates
         ---------                        --------------------
         Partner/Principal                  $700 - $860
         Director/Senior Manager            $525 - $625
         Manager                            $450 - $500
         Senior Associate                   $350 - $400
         Associate                          $285 - $335

PwC will also charge for identifiable, non-overhead expenses
incurred in connection with the representation of that particular
client.

To the best of the Committee's knowledge, PwC 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: Taps 8020 Consulting as Interim Finance Consultant
------------------------------------------------------------
FUHU, Inc. et al., ask the U.S. Bankruptcy Court for the District
of Delaware for permission to employ the firm of 8020 Consulting,
LLC as their interim finance and accounting consultant nunc pro
tunc to Dec. 7, 2015.

8020 Consulting will, among other things:

   -- conduct account review and reconciliations;
   -- provide accounts payable and receivable support; and
   -- assist with inventory management.

The Debtors agree to pay 8020 based on the hours actually expended
by each assigned professional at that the firm's hourly billing
rate.

Travis Kanafani, a consultant in the firm, tells the Court that as
of the Petition Date, his billing rate was $185 per hour and was
increased to $200 per hour effective Feb. 1, 2016.

According to 8020's book and records, during the 90 day period
prior to the Petition Date, 8020 received $356,582 from the Debtors
for professional services performed and expenses incurred. Further,
8020's current estimate is that it has received unapplied advance
payments from the debtors in excess of prepetition billings in the
amount of $15,745.

8020's remaining retainer of $15,745 will not be segregated by 8020
in a separate account and will be held until the end of the chapter
11 cases and applied to 8020's outstanding final fees as
approved by the Court.

8020 is not owed any amounts with respect to its prepetition fees
and expenses.

To the best of the Debtors' knowledge, 8020 is a "disinterested
person" as term is defined in Section 101(14) of the Bankruptcy
Code.

The firm can be reached at:

         Jeffrey N. Pomerantz, Esq.
         Michael R. Seidl, Esq.
         Colin R. Robinson, Esq.
         PACHULSKI STANG ZIEHL & JONES LLP
         919 North Market Street, 17th Floor
         P.O. Box 8705
         Wilmington, DE 19899-8705
         Tel: (302) 652-4100
         Fax: (302) 652-4400
         E-mails: jpomerantz@pszjlaw.com
                  mseidl@pszjlaw.com
                   crobinson@pszjlaw.com


         Robert J. Miller, Esq.
         BRYAN CAVE LLP
         Two N. Central Ave., Suite 2200
         Phoenix, AZ 85004
         Tel: (602) 364-7000
         Fax: (602) 364-7070
         E-mail: rjmiller@bryancave.com

         Kerry A. Moynihan, Esq.
         3161 Michelson Drive, Suite 1500
         Irvine, CA 92612
         Tel: (949) 223-7000
         Fax: (949) 223-7100
         E-mail: kerry.moynihan@bryancave.com

         Brian C. Walsh, Esq.
         Laura Uberti Hughes, Esq.
         One Metropolitan Square
         211 N. Broadway, Suite 3600
         St. Louis, Missouri 63102
         Tel: (314) 259-2000
         Fax: (314) 259-2020
         E-mail: brian.walsh@bryancave.com
                 laura.hughes@bryancave.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.


GENESIS HEALTHCARE: S&P Puts Loan's 'B-' Rating on Watch. Positive
------------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B-' issue-level
rating on Genesis Healthcare Inc.'s first-lien term loan on
CreditWatch with positive implications.  This follows the company's
announcement that it has signed a definitive agreement to sell its
home health and hospice business to Compassus for $84 million and
plans to use proceeds to pay down amounts on the first-lien term
loan, given that these assets are collateral for the term loan.

"We expect to revise the recovery rating on the company's
first-lien term loan to '2' from '3' and to raise the issue-level
rating to 'B' from 'B-' upon consummation of this transaction.
This improvement in recovery prospects stems from the reduction in
first-lien debt being substantially greater than the distressed
value we attributed to this asset in our recovery analysis (about
$35 million-$40 million).  Pro forma for the transaction, the '2'
recovery rating on the first-lien term loan would indicate our
expectation for substantial (70% to 90%, at the lower end of the
range) recovery in the event of a payment default," S&P said.

Genesis indicated plans to continue to exit underperforming,
nonstrategic assets, and apply subsequent sale proceeds to further
pay down its term loan.  S&P will evaluate those transactions and
the implications on recovery prospects once transaction details are
made available.

S&P's 'B-' corporate credit rating on Genesis reflects S&P's
assessment of the company's business risk as weak and the financial
risk profile as highly leveraged.  The outlook is stable.

Despite its large scale and geographic reach, S&P views Genesis'
business risk profile as weak because of the high degree of
competitiveness and continued reimbursement headwinds facing the
nursing home industry.  Reimbursement risk is exacerbated by about
70% of Genesis' revenues coming from government sources (Medicare
and Medicaid).  S&P believes federal efforts to reduce health care
spending, and tight state and federal budgets, may continue to
pressure reimbursement.  Geographic diversity comes from over 500
facilities in 34 states.  Genesis has modest diversity through
about 20% of revenues coming from rehabilitation and other small
business lines as of fiscal year-end 2015.  S&P's business risk
assessment also incorporates the thin levels of profitability with
adjusted EBITDA margins (after rent-related payments) of about
3%-4%.  S&P believes these thin margins leave the company
particularly susceptible to potential reimbursement and other
headwinds, including inflation of labor costs or other operating
expenses.

S&P's view of Genesis' financial risk profile reflects S&P's
forecast for adjusted debt to EBITDAR of about 8x for 2016,
including operating lease payments capitalized at 7%.  This
reflects the company's large on-balance-sheet financing transaction
involving the sale to and subsequent leaseback of its many
facilities from Welltower Inc., as well as the operating leases the
company absorbed with the Sun Healthcare Group Inc. acquisition and
more recently, its acquisition of 24 skilled nursing facilities
from Revera Inc.

RATINGS LIST

Genesis Healthcare Inc.
Corporate Credit Rating       B-/Stable/--

Ratings Placed On CreditWatch
                               To                From
Genesis Healthcare Inc.
Senior Secured Term Loan      B-/Watch Pos      B-
   Recovery Rating             3H                3H


GEORGE ROBERT HANSON: Objection to FCB's $63.5K Claim Granted
-------------------------------------------------------------
Debtors George Robert Hanson and Mary Darlene Hanson objected to
Amended Claim No. 8 of First Community Bank of Bedford County in
the secured amount of $63,516.94.

The debtors argue that Claim No. 8 was satisfied in full by virtue
of the debtors' surrender of the 310 Ardmore Property pursuant to
the terms of the 2008 Plan, and that Claim No. 8 should be
disallowed in full. FCB contends that Loan 0201 was not fully
satisfied by the foreclosure proceeds from the sale of the 310
Ardmore Property, and that Claim No. 8 should be allowed as a
secured deficiency claim covering such amounts. In support of its
contention that Claim No. 8 is secured, FCB maintains that it is
not bound by the 2008 Plan -- at least to the extent that it
provided for the release of the Loan 0201 lien on the Cold Water
Property in exchange for surrender of the 310 Ardmore Property in
light of the dismissal of the 2008 case before it was substantially
consummated.

In an Order dated March 3, 2016, which is available at
http://is.gd/BlGVmXfrom Leagle.com, Judge Stephani W. Humrickhouse
of the United States Bankruptcy Court for the Eastern District of
North Carolina, Wilmington Division, granted the objection to FCB's
claim.

The case is IN RE: GEORGE ROBERT HANSON, MARY DARLENE HANSON,
Debtors., Case No. 15-01442-5-SWH.

George Robert Hanson, Debtor, is represented by Richard Preston
Cook, Esq. -- Richard P. Cook, PLLC.




GETTIG TECHNOLOGIES: Trustee Ordered to Pay AFC Funds to Court
--------------------------------------------------------------
Judge Mary D. France of the United States Bankruptcy Court for the
Middle District of Pennsylvania denied the motion filed by Chapter
7 Trustee, John P. Neblett, Esq., to approve a supplemental
distribution to unsecured creditors.

After issuing checks to claimants pursuant to his proposed
distribution, Mr. Neblett sought approval to distribute $22,770.27
remaining in the Gettig Technologies estate account after six
checks were returned uncashed.

One of the checks was returned by the Chapter 7 trustee for
Alliance Financial Capital, which had previously filed its own
bankruptcy case.  The AFC trustee returned an $18,702.36 check to
Neblett because the case had been closed on December 5, 2010, and
he was unwilling to open the case to administer the funds.  Neblett
requested that he be authorized to pay a supplemental distribution
to creditors, arguing that Section 347(a) of the Bankruptcy Code
does not apply to the AFC check because the funds were "abandoned"
by the AFC trustee and, thus, were not "unclaimed."

Judge France held that the funds returned by the AFC trustee must
be paid into court.  The judge explained that unless AFC's
creditors were paid in full, AFC remains the rightful owner of the
funds and, conceivably, the trustee could be compelled to
administer them on behalf of the estate.  If they are not claimed
after five years, the funds will escheat to the United States
Treasury.

The case is IN RE: GETTIG TECHNOLOGIES, INC., Chapter 7, Debtor,
Case No. 1:05-bk-06044-MDF (Bankr. M.D. Pa.).

A full-text copy of Judge France's March 2, 2016 opinion is
available at http://is.gd/ODEdBgfrom Leagle.com.

Gettig Technologies, Inc. is represented by:

          Donald Robert Calaiaro, Esq.
          CALAIARO VALENCIK
          428 Forbes Avenue, Suite 900
          Pittsburgh, PA 15219
          Tel: (412)232-0930
          Fax: (412)232-3858
          Email: dcalaiaro@c-vlaw.com

United States Trustee, Asst. U.S. Trustee, is represented by:

          Anne K. Fiorenza, Esq.
          US DEPARTMENT OF JUSTICE
          Office of the United States Trustee
          228 Walnut Street, Suite 1190
          Harrisburg, PA 17101
          Tel: (717)221-4515
          Fax: (717)221-4554

            -- and --

          D. Troy Sellars, Esq.
          COZEN O'CONNOR
          17 North Second Street, Suite 1410
          Harrisburg, PA 17101
          Tel: (717)703-5900
          Fax: (717)703-5901
          Email: tsellars@cozen.com


GLOBAL COMPUTER: Seeks to Use Cash to Pay $293K in Expenses
-----------------------------------------------------------
Global Computer Enterprises, Inc., seeks authority from the U.S.
Bankruptcy Court to to use its cash to pay ordinary course expenses
of up to $293,000 from April 1, 2016, through July 31, 2016, and
set a new Minimum Account Balance of $3,138,000, exclusive of
distributions related to the payment of quarterly trustee fees,
disputed claims, and allowed professional fees.

According to the Debtor, since the entry of the Payment Order
which, inter alia, authorizes the Debtor to pay the undisputed
claims and employee obligations, the Court has approved two motions
allowing the Debtor's use of cash and has set a new Minimum Account
Balance the last order of which sets the Minimum Account Balance at
no less than $4,175,000, and further authorized the Debtor to pay
ordinary course of business expenses up to a maximum amount of
$423,500 through March 31, 2016.

The Debtor seeks approval of its revised budget, ordinary course
expenses from April 2016 through July 2016, and Minimum Account
Balance through July 2016 for the Debtor's expected professional
expenses and the time those expenses would be incurred has changed
since the filing of the last motion and budget as the Debtor's
pending litigation against SEF has lengthened by an estimated two
months.

Global Computer Enterprises, Inc. is represented by:

     David I. Swan, Esq.
     MCGUIREWOODS LLP
     1750 Tysons Boulevard, Suite 1800
     Tysons, VA 22102-4215
     Telephone: (703) 712-5365
     Facsimile: (703) 712-5246
     Email: dswan@mcguirewoods.com

        About Global Computer Enterprises

Global Computer Enterprises, Inc., doing business as GCE, is a
cloud-based "software as a service" provider, commonly referred to
as a "SAAS," offering financial management solutions primarily to
executive departments of the federal government and independent
federal government agencies.  GCE sought protection under Chapter
11 of the Bankruptcy Code (Case No. 14-13290, Bankr. E.D. Va.) on
Sept. 4, 2014.  The case is assigned to Judge Robert G. Mayer.

The Debtor's counsel is David I. Swan, Esq., at McGuirewoods LLP,
in McLean, Virginia.  The Debtor's financial advisor is Weinsweig
Advisors.  The petition was signed by Mike Freeman, interim chief
operating officer.

Judge Mayer designated Mike Freeman to perform duties imposed upon
GCE by the Bankruptcy Code.

The U.S. Trustee for Region 4 appointed three creditors of Global
Computer Enterprises, Inc. to serve on the official committee of
unsecured creditors.  The Committee tapped Armstrong Teasdale LLP,
as its counsel and Leach Travell Britt PC as its local bankruptcy
counsel.


GM FINANCIAL: Shifts Toward Improving Loan Quality, Moody's Says
----------------------------------------------------------------
The proportion of prime loans in GM Financial's (Ba1 positive)
North American portfolio almost doubled in the second-half of last
year. This will significantly improve the credit quality of the
company's portfolio, though its risk profile remains weaker than
that of its peers, says Moody's Investors Service.

In the first half of last year, General Motors was originating a
significant volume of subvented loans, which are typically
associated with higher credit scores, with other finance companies,
such as Ally Financial (Ba3 stable), in addition to GM Financial.
However, in October it announced that it would move almost all of
these loans to GM Financial.

As a consequence, prime loans accounted for 24 percent of the
company's North American loan portfolio by the end of 2015,
compared with 12 percent six months earlier.

"The credit quality of GM Financial's loan portfolio should improve
steadily as the proportion of prime loans increases relative to
near-prime and sub-prime loans," said Jason Grohotolski, a Vice
President and Senior Analyst at Moody's.

Despite the shift, sub-prime loans still continue to comprise the
bulk of the company's North American portfolio, making up 60
percent of GM Financial's loans at the end of 2015. The still
sizeable sub-prime portfolio will keep the company's risk profile
weaker than that of other captive auto-finance companies even as
the prime loan portfolio grows to its full potential.


GREAT LAKES COMNET: Everstream to Lead Auction; Bids Due April 22
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the Western District of Michigan
approved the sale procedures in connection with the sale of
substantially all of the assets of Great Lakes Comnet Inc. and its
debtor-affiliates.

The Debtors tell the Court that they selected Everstream GLC
Holdings Company as staking-horse bidder for their assets.

Qualified bidders must file their offers no later than 5:00 p.m.
(Eastern Time) on April 22, 2016, by electronic mail to:

a) Timothy A. Fusco, Esq.
   Stephen S. LaPlante, Esq.
   Miller, Canfield,Paddock and Stone PLC
   150 West Jefferson, Suite 2500
   Detroit, MI 48226
   Email: fusco@millercanfield.com
          laplante@millercanfield.com

b) The Office of the United States Trustee
   c/o Michelle Wilson
   The Ledyard Building 2nd Floor
   125 Ottawa, NW, Suite 200R
   Grand Rapids, Mi 49503
   Email: michelle.m.wilson@usdoj.gov

c) Counsel of the Official Committee of Unsecured Creditors\
   Cathy Hershcopf, Esq.
   Seth Van Aalten, Esq.
   Cooley LLP
   1114 Avenue of the America
   New York, NY 10036
   Email: chershcopf@cooley.com
          svanaalten@cooley.com
          mischlan@cooley.com

Subject to any other requirements set by the Court, an offer to
purchase will only constitute a qualified bid if it contains these
items, among other things:

   i) an unconditional cash offer for substantially all or any
      portion of the Debtors' assets;

  ii) an executed confidentially agreement in form and substance
      reasonably satisfactory to the Debtors; and

iii) propose a cash purchase price that is not less than
      $32.65 million

The Debtors will hold an auction on April 28, 2016, at 10:00 a.m.
(prevailing Easter Time) at the offices of Miller, Canfield,
Paddock and Stone PLCe, 150 West Jefferson, Suite 2500, Detroit,
Michigan 48226.  Objections, if any, are due not later than 12:00
p.m. (prevailing Eastern Time) on May 2, 2016.

A sale hearing will take place on May 10, 2016, at 10:00 a.m.
(prevailing Eastern Time) in the Courtroom of the Hon. John T.
Gregg of the U.S. Bankruptcy Court for the Western District of
Michigan, 1 Division Avenue N., Room 200, Grand Rapids, Michigan.

                    About Great Lakes Comnet

East Lansing, Michigan-based Great Lakes Comnet, Inc., owns and
operates a 6,500 mile fiber network serving the carrier and
enterprise sectors in Michigan, with the network extending to
Ohio,
Indiana, Illinois, Wisconsin, and Minnesota.  GLC's services
include transport, dark fiber sales, cloud and datacenter
operations, toll resale, toll routes, local switching, tandem
switching and SS7.

GLC's tandem switch is used -- in conjunction with tandem
transport
services provided by GLC and Westphalia Telephone Company -- to
send long distance calls from the network of one
telecommunications
carrier to the network of another telecommunications carrier.  By
using the services provided by GLC and WTC, interexchange carriers
such as AT&T, are able to exchange interstate long distance calls
with local telecommunications service providers, namely, rural
Incumbent Local Exchange Carriers and competitive LECs, located
throughout Michigan, where the rural ILECs and CLECs operate "end
office switches" homing on GLC's tandem switch.

Comlink provides data and communication services, including
dedicated ultra-high-speed bandwidth data transmission, Ethernet
private line services and virtual private network services,
cloud-based and colocation data center services, and data
management services to Consumers Energy, several hospital systems,
municipalities and state correctional facilities.

Great Lakes Comnet, Inc. and Comlink, LLC filed Chapter 11
bankruptcy petitions (Bankr. W.D. Mich. Case Nos. 16-00290 and
16-00292, respectively) on Jan. 25, 2016.  The petitions were
signed by John Summersett as chief executive officer.  The Debtors
estimated both assets and debts in the range of $10 million to $50
million.

The Debtors have engaged Miller Canfield Paddock & Stone PLC as
counsel, Alix Partners LLP as restructuring advisors and Kurtzman
Carson Consultants, LLC as claims, balloting and noticing agent.


GT ADVANCED: Completes Financial Restructuring; Exits Chapter 11
----------------------------------------------------------------
GT Advanced Technologies Inc. on March 18 disclosed that it has
emerged from Chapter 11 as a newly reorganized company.  GT
Advanced Technologies Inc. and its affiliated debtors ("GTAT") have
emerged with a solid balance sheet and renewed strategy focused on
growth in the solar and sapphire industries.

"Our emergence from Chapter 11 marks the start of a new chapter for
our company," said David Keck, GTAT's President and Chief Executive
Officer.  "Through this process, we have resolved the issues which
led to our decision to seek bankruptcy court protection.  With our
strengthened financial flexibility, we will focus on our industry
leading capabilities in the solar and sapphire markets."

The company's $80 million of exit financing was provided by a group
of financial sponsors with combined assets under management of more
than $30 billion.  "Our emergence would not have been possible
without the support of our financial sponsors, whose willingness to
invest in the company demonstrates their confidence in GTAT's
prospects for long-term growth and value creation.  I want to thank
our employees who have worked tirelessly in achieving our
successful restructuring.  We are also grateful to our customers
and suppliers who have been critical to our success throughout this
process.  We believe GTAT is well positioned for the future and we
are excited about our market opportunities,"
Mr. Keck concluded.

Rothschild Inc. served as financial advisor and investment banker
and Alvarez & Marsal North America, LLC served as restructuring
advisor to GTAT.  Paul Hastings LLP served as GTAT's restructuring
counsel. Wilmer Cutler Pickering Hale and Dorr served as counsel to
the financial sponsors.

                 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.


GT ADVANCED: Guizhou Haotian Appeals Claims Ruling
--------------------------------------------------
Guizhou Haotian Optoelectronics Technology Co., Ltd. has taken an
appeal to the United States District Court for the District of New
Hampshire from the order entered by the Bankruptcy Court for the
District of New Hampshire on March 4, 2016, sustaining GT Advanced
Technologies' Senior Claim Objection to Claim No. 1082, Claim No.
1083 And Claim No. 1084; and the Debtors' Supplement To the Senior
Claim Objection to Claim No. 1082, Claim No. 1083 And Claim No.
1084, Objecting To Claim 1085 with respect to claims 1083 and 1085;
and otherwise denying Guizhou's request that claims 1083 and 1085
be treated as administrative claims pursuant to Reading Co. v.
Brown, 391 U.S. 471 (1968) and 11 U.S.C. Sec. 503(b)(1).

As reported by the Troubled Company Reporter, after the applicable
bar date, Guizhou filed (a) Proof of Claim No. 1082, which asserts
an administrative expense claim under section 503(b)(9) of the
Bankruptcy Code in the amount of $18,134,636, (b) Proof of Claim
No. 1083, which asserts a secured claim in the amount of
$16,306,137, (c) Proof of Claim No. 1084, which asserts an
administrative expense claim under Section 503(b)(9) of the
Bankruptcy Code in the amount of $9,053,760, and (d) Proof of Claim
No. 1085, which asserts an administrative expense claim in the
amount of $1,791,650.

At the hearing to confirm the Debtors' Plan of Reorganization, the
Court determined that Claim No. 1083 is not entitled to secured
status or administrative expense priority and that Claim No. 1085
is not entitled to administrative expense status.  Accordingly, the
Court holds that (a) Claim No. 1083 is reclassified in its entirety
as an Allowed Class 4C General Unsecured Claim in the amount of
$10,917,606 and (b) Claim No. 1085 is disallowed in its entirety.
In addition, HTOT has acknowledged that Claim No. 1082 and Claim
No. 1084 are general unsecured claims.  Accordingly, Claim No. 1082
and Claim No. 1084 are reclassified as general unsecured claims.

The Claimant is represented by:

     James S. LaMontagne, Esq.
     Sheehan Phinney Bass & Green PA
     1000 Elm Street, 17th Floor
     Manchester, NH 0310
     Tel: (603) 627-8102

                         About GT Advanced

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 was 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
sought bankruptcy protection due to a severe liquidity crisis
brought about by its issues with Apple.

The bankruptcy cases are assigned to Judge Henry J. Boroff.

The Debtors 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.

                           *     *     *

In November 2014, GTAT 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.

In December 2015, GTAT filed a proposed reorganization plan that
allows the company to continue operating as a going concern and
gives most of the equity to entities providing bankruptcy-exit
financing.

Judge Boroff on March 8, 2016, entered an order confirming the
Debtors' Amended Joint Plan of Reorganization.  The Plan was dated
March 7.  The Plan was declared effective March 17.


GT ADVANCED: Reorganization Plan Declared Effective March 17
------------------------------------------------------------
GT Advanced Technologies, Inc., notified the United States
Bankruptcy Court for the District of New Hampshire that the
Debtors' Amended Joint Plan of Reorganization became effective on
March 17, 2016.

As reported by the Troubled Company Reporter, Judge Henry J. Boroff
on March 8 entered an order confirming the Debtors' Amended Joint
Plan of Reorganization.  The Plan was dated March 7.

The Plan incorporates a compromise and settlement of numerous
inter-debtor, debtor-creditor, and inter-creditor issues,
including
issues regarding substantive consolidation of the Debtors'
estates,
the validity and enforceability of intercompany claims, and the
allocation of assets among the Debtors' estates.
The Plan not only keeps the Debtors operating as a going concern
but also provides for the distribution to holders of allowed
general unsecured claims in the form of 14% of the Reorganized
Debtors' equity plus proceeds from causes of action.

Judge Boroff on Feb. 2, 2016, approved the Disclosure Statement,
authorized the Debtors to solicit votes, and set a March 3 hearing
to consider confirmation of the Plan.

Impaired classes of claims eligible to vote affirmatively voted to
accept the Plan.

Several objections to confirmation were filed.  Subsequent to
solicitation, the Debtors filed amendments to the Plan on March 2,
2016 and on March 7, 2016, which, among other things, address
objections raised by certain parties.  Most of the objections by
parties were resolved and the outstanding objections by the U.S.
Trustee were overruled.

Hearings on the Plan and objections were held on March 3 and 4,
and
a hearing on the proposed confirmation order was scheduled March
9.
On March 8, the Court ordered that the March 9 hearing is
cancelled as "the recently filed proposed order being acceptable
to
the Court and applicable objections having been withdrawn,
settled,
or overruled."

A copy of the Plan Confirmation Order entered March 8, 2016, is
available for free at:

      http://bankrupt.com/misc/GTAT_3310_Plan_Conf_Ord.pdf

A copy of the Amended Plan filed March 7, 2016, is available for
free at:

      http://bankrupt.com/misc/GTAT_3298_Am_Plan_BL.pdf

                        The Chapter 11 Plan

GTAT, et al., have proposed a Joint Plan of Reorganization that
proposes to grant 86% of Reorganized GT Inc. to entities providing
$80 million of exit financing and 14% of the shares to general
unsecured creditors.

The Plan also establishes a "litigation trust" that may generate
cash for distribution for holders of allowed general unsecured
claims.  Holders of unsecured claims totaling $21.4 million to
$182
million against GT Inc. are slated to have a 0.61% recovery;
unsecured creditors of the Corporate Debtors owed $83.2 million to
$256 million will recover 0.790% to 2.427%; and holders of
unsecured claims against GT Hong Kong owed $80.5 million to $108.6
million are slated to have a 0.492% to 0.663% recovery.

Upon the Effective Date of the Plan, the Reorganized Debtors'
capital structure will consist of (a) the senior secured notes in
the amount of $60 million, (b) shares of preferred stock, which
will represent 86% of the ownership of the common stock in
Reorganized GT Inc. on an as-converted basis (subject to
dilution),
and (c) shares of reorganized common stock.  

The Financing Support Parties, the entities providing the $80
million exit financing, are comprised of: (a) WBox 2014-3 Ltd.;
(b)
Jefferies LLC; (c) QPB Holdings Ltd.; (d) Wolverine Flagship Fund
Trading Limited; (e) Privet Fund Management LLC; (f) Citigroup
Financial Products Inc.; (g) Caspian Capital LP, (h) Corre
Partners
Management LLC; and (i) Empyrean Capital Partners, LP.

The Financing Support Parties are represented by:

         James D. Kelly
         KELLY LAW PLLC
         16 Broad Street
         Nashua, New Hampshire 03064
         Telephone: (603) 809-4230
         E-mail: jim@kellylawnh.com

             - and -

         Philip D. Anker
         WILMER CUTLER PICKERING HALE AND DORR LLP
         7 World Trade Center
         250 Greenwich Street
         New York, New York 10007
         Telephone: (212) 230-8890
         E-mail: philip.anker@wilmerhale.com

             - and -

         Dennis L. Jenkins
         WILMER CUTLER PICKERING HALE AND DORR LLP
         60 State Street
         Boston, MA 02109
         Telephone: (617) 526-6000
         E-mail: dennis.jenkins@wilmerhale.com

                         About GT Advanced

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 was 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
sought bankruptcy protection due to a severe liquidity crisis
brought about by its issues with Apple.

The bankruptcy cases are assigned to Judge Henry J. Boroff.

The Debtors 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.

                           *     *     *

In November 2014, GTAT 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.

In December 2015, GTAT filed a proposed reorganization plan that
allows the company to continue operating as a going concern and
gives most of the equity to entities providing bankruptcy-exit
financing.


HNO GREEN: Ordered to Explain Why Case Shouldn't Be Dismissed
-------------------------------------------------------------
A representative of HNO Green Fuels Inc. is set to explain in a
court hearing on March 23 why the company's Chapter 11 case should
not be dismissed or converted to a Chapter 7 liquidation.

The U.S. Bankruptcy Court for the Central District of California
had scheduled the hearing after a group of creditors made
allegations that Don Owens, principal of HNO Green, sent emails to
shareholders soliciting new investments in the company without
court approval.

The creditors, which include Brundidge & Stanger P.C. and C&R
Enterprises, alleged the emails contained false or misleading
statements that violate the California Corporations Code and
warrant dismissal or conversion of the company's bankruptcy case to
a Chapter 7 proceeding.

                      About HNO Green Fuels

HNO Green Fuels, Inc., sought Chapter 11 protection (Bankr. C.D.
Cal. Case No. 15-14946) in Riverside, California, on May 16, 2015.
The Debtor estimated $50 million to $100 million in assets and $1
million to $10 million in debt.  The Debtor tapped Levene, Neale,
Bender, Yoo & Brill L.L.P, as counsel.  Judge Mark D. Houle
presides over the case.


HOVNANIAN ENTERPRISES: Stockholders Elect 7 Directors
-----------------------------------------------------
Hovnanian Enterprises, Inc., held its 2016 annual meeting of
stockholders on March 15, 2016, at which the stockholders:

  (a) elected A. Hovnanian, R. Coutts, E. Kangas, J. Marengi,
      V. Pagano, J. Sorsby and S. Weinroth as directors of the
      Company to hold office until the next annual meeting of
      stockholders and until their respective successors have been
      duly elected and qualified;

  (b) ratified the selection of Deloitte & Touche LLP as the
      Company's independent registered public accounting firm for
      the fiscal year ending Oct. 31, 2016;

  (c) approved the 2012 Hovnanian Enterprises, Inc. Amended and
      Restated Stock Incentive Plan; and

  (d) approved on a non-binding advisory basis the compensation of
      the Company's named executive officers.

The Amended Plan is substantially the same as the 2012 Hovnanian
Enterprises, Inc. Amended and Restated Stock Incentive Plan (as
amended through January 2014), except that the Existing Plan has
been amended and restated to increase by 9,100,000 the number of
shares of common stock authorized for issuance thereunder.  Certain
clarifications were also made to the terms of the plan document to
better conform with current practices.

                  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.


HUDSON PRODUCTS: S&P Lowers CCR to 'CCC+', Outlook Negative
-----------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Beasley, Texas-based Hudson Products Holdings Inc.
to 'CCC+' from 'B-'.  The outlook is negative.

At the same time, S&P lowered the ratings on the company's term
loan to 'CCC+' (the same as the corporate credit rating) from
'B-'.  The recovery rating on the company's term loan is '3',
indicating S&P's expectation of meaningful (50% to 70%, low end of
the range) recovery in the event of a payment default.

The downgrade on Hudson reflects S&P's revised estimates of the
company's increased leverage and S&P's belief that credit metrics
are at unsustainable levels.  S&P now expects debt to EBITDA to be
over 10x in 2016 (including preferred equity as debt).  The company
is facing weakness in its natural gas processing and compression
end markets.

"We continue to view the company's business profile as vulnerable,
its financial profile as highly leveraged, and its liquidity as
adequate," said Standard & Poor's credit analyst Stephen Scovotti.

Hudson maintains a leading market position as a manufacturer of
axial flow fans and air-cooled heat exchangers, but its markets are
somewhat limited and are tied to cyclical and competitive end
markets including liquid natural gas (LNG), petrochemical,
refining, and natural gas processing and compression.  As a result
of lower commodity prices, the air cooler heat exchanger (ACHE)
business has seen a slower pace of project awards and pressure on
margins.  The ACHE business accounted for about 70% of revenue in
2015.  However, S&P expects the company's ACHE business to account
for a smaller percentage of revenue in 2016, as new ACHE markets
remain weak.

The negative outlook on Hudson Products reflects S&P's view that
credit metrics will weaken in 2016 to levels S&P views as
unsustainable, due to weakness in the company's end markets.

S&P could lower the ratings if it did not believe that Hudson would
be able to meet its obligations over the next 12 months.

S&P could raise the ratings if the company were able to improve
credits metrics to more sustainable levels such as FFO to debt
approaching 12%, while maintaining adequate liquidity.  This could
occur due to improvement in the company's end markets.


IMAGEWARE SYSTEMS: Reports $9.59 Million Net Loss in 2015
---------------------------------------------------------
Imageware Systems Incorporated filed with the Securities and
Exchange Commission its annual report on Form 10-K disclosing a net
loss available to common shareholders of $9.59 million on $4.76
million of revenues for the year ended Dec. 31, 2015, compared to a
net loss available to common shareholders of $7.99 million on $4.15
million of revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Imageware had $7.60 million in total assets,
$3.91 million in total liabilities and $3.69 million in total
shareholders' deficit.

At Dec. 31, 2015, the Company's principal sources of liquidity
consisted of cash and cash equivalents of $3,352,000 and accounts
receivable, net of $349,000.  As of Dec. 31, 2015, the Company had
working capital of $1,410,000, which included $1,059,000 of
deferred revenue.  The Company has a history of recurring losses,
and as of Dec. 31, 2015, it has incurred a cumulative net loss of
approximately $145,893,000.

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

                         http://is.gd/KRRnuI

                       About ImageWare Systems

Headquartered in San Diego, California, ImageWare Systems, Inc.,
is a leader in the emerging market for software-based identity
management solutions, providing biometric, secure credential, law
enforcement and enterprise authorization.  Its "flagship" product
is the IWS Biometric Engine.  Scalable for small city business or
worldwide deployment, the Company's biometric engine is a multi-
biometric platform that is hardware and algorithm independent,
enabling the enrollment and management of unlimited population
sizes.  The Company's identification products are used to manage
and issue secure credentials, including national IDs, passports,
driver licenses, smart cards and access control credentials.  Its
law enforcement products provide law enforcement with integrated
mug shot, fingerprint LiveScan and investigative capabilities.
The Company also provides comprehensive authentication security
software.


INT'L TECHNICAL: Judge Sets March 31 Deadline to File Admin Claims
------------------------------------------------------------------
Creditors of International Technical Coatings Inc. have until this
month to file administrative priority claims against the company.

U.S. Bankruptcy Judge Madeleine Wanslee signed off on an order that
gives creditors until March 31 to file claims under section
503(b)(9) of the Bankruptcy Code for goods provided to the company
in the 20 days prior to its bankruptcy filing.

                   About International Technical

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

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

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

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

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

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

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


INTELLIPHARMACEUTICS INT'L: Presented at Roth Conference
--------------------------------------------------------
Intellipharmaceutics International Inc. made a presentation at the
Roth Investors Conference held on March 15, 2016, led by Chief
Financial Officer Domenic Della Penna.  A copy of the presentation
used at the conference entitled "The Future of Drug Delivery" is
available at http://is.gd/BxHHom

                 About Intellipharmaceutics

Toronto, Canada-based Intellipharmaceutics International Inc. is
incorporated under the laws of Canada.  Intellipharmaceutics is a
pharmaceutical company specializing in the research, development
and manufacture of novel and generic controlled-release and
targeted-release oral solid dosage drugs.  Its patented
Hypermatrix(TM) technology is a multidimensional controlled-
release drug delivery platform that can be applied to the
efficient development of a wide range of existing and new
pharmaceuticals.  Based on this technology, Intellipharmaceutics
has a pipeline of product candidates in various stages of
development, including filings with the FDA in therapeutic areas
that include neurology, cardiovascular, gastrointestinal tract,
diabetes and pain.

Intellipharmaceutics reported a net loss of $7.43 million on $4.09
million of revenues for the year ended Nov. 30, 2015, compared to a
net loss of $3.85 million on $8.76 million of revenues for the year
ended Nov. 30, 2014.

As of Nov. 30, 2015, the Company had $5.22 million in total assets,
$5.36 million in total liabilities and a $137,686 shareholders'
deficiency.

Deloitte LLP, in Toronto, Canada, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Nov. 30, 2014, citing that the Company's recurring losses
from operations and the accumulated deficit raise substantial doubt
about the Company's ability to continue as a going concern.


INTERLEUKIN GENETICS: Reports $7.89 Million Net Loss for 2015
-------------------------------------------------------------
Interleukin Genetics, Inc., filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$7.89 million on $1.44 million of total revenue for the year ended
Dec. 31, 2015, compared to a net loss of $6.33 million on $1.81
million of total revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $6.49 million in total assets,
$8.95 million in total liabilities and a $2.46 million total
stockholders' deficit.

Grant Thornton LLP, in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has incurred
recurring losses from operations and has an accumulated deficit
that raise substantial doubt about the Company's ability to
continue as a going concern.

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

                       http://is.gd/q0dOwp

                        About Interleukin

Waltham, Mass.-based Interleukin Genetics, Inc., is a personalized
health company that develops unique genetic tests to provide
information to better manage health and specific health risks.


INTERNATIONAL TECHNICAL: Has Final Order to Use Cash Collateral
---------------------------------------------------------------
U.S. Bankruptcy Judge Madeleine C. Wanslee gave final authorization
to International Technical Coatings, Inc., to use cash collateral
to, among other things, pay the ITC Manufacturing, LLC, debt
payments for the months of February through April 2016, unless cash
collateral usage is terminated.

The Debtor sought approval to use cash collateral with the consent
of Bank of America, N.A., and the Official Committee of Unsecured
Creditors.

The Debtor is authorized and directed to have ITC Ohio execute all
loan and security documents necessary to grant the Lender a valid
and perfected lien in all personal property owned by ITC Ohio, and
the Lender is authorized to file appropriate UCC-1 financing
statements to provide applicable third-parties with notice of the
ITC Ohio Lien.

As adequate protection, the Lender will receive replacement liens,
and super-priority claims.

As of the Petition Date, Bank of America was owed at least
$25,668,213, for loans provided to the Debtor prepetition.  The
loans are secured by valid, perfected and unavoidable liens in all
real and personal property owned by the Debtors and that certain
Lender deposit account opened by Thomas Fisher.

The Debtor previously requested that the Lender consent to the
interim and limited use of Cash Collateral.  The Lender provided
its consent pursuant to the terms of the interim cash collateral
orders.

The Lender has agreed to allow the Debtor to continue using its
Cash Collateral through April 29, 2016, subject to terms and
condition, including the use of cash of cash collateral limited to
the payment of authorized expenses set forth in the budget.

                   About International Technical

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

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

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

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

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

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

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


INTERNATIONAL TEXTILE: Michael Gibbons Quits From Board
-------------------------------------------------------
International Textile Group, Inc., disclosed in a regulatory filing
with the Securities and Exchange Commission that it received the
resignation of Michael J. Gibbons, a member of the board of
directors since 2005 and a member of the Audit Committee of the
Board, from those positions effective as of Feb. 29, 2016.

The Company expresses its gratitude to Mr. Gibbons for his long
service and contributions to the Company.  

                 About International Textile

International Textile Group, Inc., is a global, diversified
textile manufacturer headquartered in Greensboro, North Carolina,
with current operations principally in the United States, China,
Mexico, and Vietnam.  ITG's long-term focus includes the
realization of the benefits of its global expansion, including
reaching full production at ITG facilities in China and Vietnam,
and continuing to seek other strategic growth opportunities.

International Textile reported a net loss attributable to common
stock of $15.4 million on $595 million of net sales for the year
ended Dec. 31, 2014, compared to a net loss attributable to common
stock of $10.9 million on $600 million of net sales in 2013.

The Company's balance sheet as of Sept. 30, 2015, shows $330
million in total assets, $383 million in total liabilities and a
$53.8 million total stockholders' deficit.


INTERPARK INVESTORS: Wants to Use Athene Annuity's Cash Collateral
------------------------------------------------------------------
Interpark Investors, LLC, asks the U.S. Bankruptcy Court for the
Northern District of Illinois, Eastern Division, for authorization
to use the cash collateral of Athene Annuity and Life Company on an
interim basis and after a final hearing.

The Debtor requires the use of Athene Annuity's cash collateral in
order to maintain the value of its primary assets, which consist of
two real estate parcels commonly known as (i) 8601-8623 West Bryn
Mawr Avenue, Chicago, IL ("Bryn Mawr Property") and (ii) 8600-8622
West Catalpa Avenue, Chicago, IL, and to continue its related
business operations pending a sale of one or more of the Properties
or the confirmation of a Chapter 11 plan.

The Debtor proposes that the duration of the approved cash
collateral use coincide with the term of the Budgets, which
collectively extend through May 11, 2016, and may be extended by
(i) agreement with Athene Annuity, or (ii) Court approval.

Interpark Investors' attorneys:

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

                     About Interpark Investors

Interpark Investors, LLC, is an Illinois limited liability company
that owns and operates two real estate parcels commonly known as
(i) 8601-8623 West Bryn Mawr Avenue, Chicago, IL (the "Bryn Mawr
Property") and (ii) 8600-8622 West Catalpa Avenue, Chicago, IL (the
"Catalpa Property").

Though the Company acquired the Properties as a single Class B
multitenant office development consisting of 12 single-story
buildings and known as Interpark Corporate Center, the Company has
since divided the two Properties into two separate projects.

The Company continues to operate the Catalpa Property, which is the
southern parcel, as an office park with several commercial tenants.
However, prior to the Petition Date, the Company terminated the
office rental operations at the Bryn Mawr Property, which is the
northern parcel, and slated it for demolition and redevelopment as
a seven-story, 394-unit residential apartment
complex with 9,500 square feet of retail space.

Shortly before the Petition Date, the Company engaged CBRE, Inc. to
sell the Bryn Mawr Property.  The Company intends to use the
proceeds generated from the sale of the Bryn Mawr Property to pay
down secured debt.  The Company intends to retain the Catalpa
Property.

Based on the most recent appraisal conducted on the Properties,
plus recent broker opinions of value, the Debtor asserts that the
collective value of the Properties exceeds $23 million. CBRE has
estimated that the value of the Bryn Mawr Property alone exceeds
$17 million.

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


INVENTIV HEALTH: Signs Separation Agreement With Michael Griffith
-----------------------------------------------------------------
Mr. Michael Griffith's employment with inVentiv Health, Inc.
terminated as of March 15, 2016, according to a regulatory filing
with the Securities and Exchange Commission.  Prior to his
termination of employment, Mr. Griffith served as executive vice
president, and president of the Company's Commercial business
segment.

On March 16, 2016, the Company and Mr. Griffith entered into an
Enhanced Separation Agreement and General Release of Claims
concerning the conclusion of Mr. Griffith's employment services
with the Company, which supersedes, in part, and incorporates by
reference, in part, the Company's previous Severance and
Non-Competition Agreement with Mr. Griffith dated May 10, 2014.

Under the terms of the Enhanced Separation Agreement, provided that
Mr. Griffith executes and does not revoke a Separation Agreement
and General Release of Claims, the Company will, among the other
benefits provided for in the Severance and Non-Competition
Agreement, pay Mr. Griffith a bonus in an amount equal to $650,000,
which amount includes $450,000 which will be regarded as Mr.
Griffith's annual bonus for fiscal year 2015 and $200,000 which
will be regarded as a partial bonus for fiscal year 2016.

In addition, following the termination of Mr. Griffith's
employment, he will remain eligible to vest in certain time-based
and EBITDA-based options in accordance with the terms thereof and
such options, to the extent vested, will remain outstanding and
exercisable until Sept. 30, 2018.  If Mr. Griffith fails to execute
or executes and revokes the Separation Agreement, in place of the
foregoing benefits under the Enhanced Separation Agreement, he will
instead receive a lump-sum, one-time payment in the amount of
$50,000.

                     About inVentiv Health

inVentiv Health, Inc., is privately owned by inVentiv Group
Holdings, Inc., an organization sponsored by affiliates of Thomas
H. Lee Partners, L.P., Liberty Lane Partners and members of the
inVentiv Health management team.

inVentiv Health is a top-tier professional services organization
that accelerates the clinical and commercial success of
biopharmaceutical companies worldwide.  The Company's combined
Clinical Research Organization and Contract Commercial Organization
helps clients improve their performance to deliver much-needed
therapies to market.  With 13,000 employees providing services to
clients in 70 countries, inVentiv Health designs best practices,
processes and systems to enable clients to successfully navigate an
increasingly complex environment.
- See more at:
http://www.inventivhealth.com/our-company/investors#sthash.Oi040G6G.dpuf


As of Sept. 30, 2015, the Company had $2.20 billion in total
assets, $2.90 billion in total liabilities and a total
stockholders' deficit of $699 million.

                           *    *    *

As reported by the TCR on May 22, 2015, Moody's Investors Service
affirmed the Caa1 Corporate Family Rating and Caa1-PD Probability
of Default Rating of inVentiv Health, Inc. as well as all of the
instrument ratings.  The Caa1 rating reflects inVentiv's very high
leverage, history of negative free cash flow and significant
interest burden which will make a default event likely if the
company does not significantly improve its EBITDA performance well
ahead of 2018, when all of the company's debt matures.

The TCR reported on Dec. 12, 2012, that Standard & Poor's Ratings
Services affirmed its 'B-' corporate credit rating on Burlington,
Mass.-based contract research organization (CRO) inVentiv Health
Inc.


KALOBIOS PHARMA: Bankruptcy Loans Could Cut Shkreli's Holdings
--------------------------------------------------------------
Peg Brickley, writing for Dow Jones' Daily Bankruptcy Review,
reported that KaloBios Pharmaceuticals Inc. has lined up $14
million in loans to see it through and out of bankruptcy, financing
that could be paid off in the form of bargain-priced stock that
would water down the holdings of former Chief Executive Officer
Martin Shkreli.

According to the report, Nomis Bay Ltd. has joined Black Horse
Capital LP in offering loans designed to fund a deal to get
KaloBios back on its feet and soothe a sore spot -- the company's
association with Mr. Shkreli, who attained notoriety for hiking the
price of a vital drug by 5,000% last year.

The report related that Mr. Shkreli, who prompted a public outcry
last year for raising the price of a lifesaving medication by
5,000% while at Turing Pharmaceuticals, had been in the CEO seat at
KaloBios for less than a month when he was arrested on fraud
charges unrelated to KaloBios.  Denying guilt, he posted his stock
holdings in KaloBios to secure the bond that has kept him out of
jail, the report related.

Financing outlined in papers filed March 17 with the U.S.
Bankruptcy Court in Wilmington, Del., would help fund a deal that
Mr. Shkreli started, which KaloBios is now trying to close, the
report related.  KaloBios is seeking a priority review voucher, a
ticket for a speedy trip through the federal regulatory process,
for a drug it would like to produce, the report further related.

As previously reported by The Troubled Company Reporter, citing for
Bloomberg Brief, KaloBios, the drug company that plunged into
bankruptcy after the arrest of its former CEO, is getting some help
for its plan to buy a treatment for Chagas disease.

According to the report, citing a court filing, hedge fund Black
Horse Capital LP offered to buy at least 40 percent of the company
for $10 million on condition that Shkreli hold no more than 20
percent of KaloBios's voting shares.  Shkreli had owned about 50
percent of the stock before the bankruptcy, the report noted.  At
least a substantial portion of his stake was used to secure his $5
million bail after he was charged with securities fraud in
December, the report said.

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

                 About KaloBios Pharmaceuticals

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

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

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

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


LAKE TAHOE: Files Schedules of Assets and Liabilities
-----------------------------------------------------
Lake Tahoe Partners LLC filed with the U.S. Bankruptcy Court for
the Northern District of California its schedules of assets and
liabilities, disclosing:

     Schedule A/B: Assets-Real and Personal Property

          1a. Real property:                          $26,400,000

          1b. Total personal property:                $14,136,419
                                                -----------------
          1c. Total of all property:                  $49,536,419

     Summary of Liabilities

          Schedule D: Creditors Who Have Claims
            Secured by Property                       $11,000,000

          Schedule E/F: Creditors Who Have
            Unsecured Claims

              3a. Total claim amounts of  
                  priority unsecured claims              $311,300

              3b. Total amount of claims of
                  nonpriority amount of
                  unsecured claims                     $1,044,269
                                                -----------------
          Total liabilities                           $12,355,569

A copy of the Schedules is available at no extra charge at:

          http://bankrupt.com/misc/LAKETAHOE_31_SAL.pdf

On March 7, 2016, creditor Sorm Investments, LLC, withdrew its
March 2 motion to dismiss the Debtor's Chapter 11 case.  Sorm's
withdrawal of its dismissal motion is based on certain information
contained in the Debtor's amended voluntary petition filed on March
7, 2016, and the papers submitted by the Debtor in opposition to
the motion, regarding information concerning the Debtor's principal
place of business that is contrary to that set forth in the
Debtor's voluntary petition filed on March 1, 2016.

Sorm had sought the dismissal of the Debtor's case, saying that
this case was improperly filed in the Northern District of
California although there was no proper basis for venue in this
Court under that statute.  Sorm stated in its motion that based on
the Debtor's own representations: (i) it is not domiciled or
resident in the Northern District of California, it does not have
its principal place of business in the Northern District of
California; and (ii) it does not have its principal assets in the
Northern District of California.  

The Debtor filed an objection on March 7, saying that the Sorm's
motion seeks to dismiss the case based on a statement the Debtor's
CEO, Tim Wilkens, made in the Debtor's petition which stated that
its "principal place of business" is located in Tahoe Vista,
California.  According to the Debtor, the statement was made
without a full appreciation for the specialized legal meaning of
the phrase "principal place of business" -- which according to the
Supreme Court refers to the "nerve center" of a company.  Although
the Debtor owns undeveloped property in Tahoe Vista, its principal
place of business is in fact Napa, California, which is where Mr.
Wilkens conducts the Debtor's business.  Napa is also identified as
the location of the Debtor's executive offices in its governing
documents.  According to the Debtor, Mr. Wilkens signed the
Petition without appreciating the legal (specialized)
interpretation of the term "principal place of business" or its
importance to venue.  Even if the Debtor's principal place of
business was not in the Northern District, the appropriate remedy
would be transfer, not dismissal, of this case, the Debtor said.

Mr. Wilkens said in a declaration filed on March 7 that the
operating agreement provides that: "The principal executive office
of the Company shall be at 855 Bordeaux Way, Suite 200, Napa, CA
94558, with a mailing address of PO Box 2490, Napa, CA 94558, or
such other place or places as may be determined by the Members from
time to time."  Since the operating agreement was executed, the
Debtor's principal executive office moved address and is now
located at 211 Gateway Road West in Napa.   

On March 7, the Debtor filed another voluntary petition for
non-individuals filing for bankruptcy, a copy of which is available
for free at:

http://bankrupt.com/misc/LAKETAHOE_16_amendedvoluntarypetition.pdf

Sorm is represented by:

      Gary M. Kaplan, Esq.
      Farella Braun + Martel LLP
      235 Montgomery Street
      18th Floor
      San Francisco, CA  94104
      Tel: (415) 954-4400
      Fax: (415) 954-4480
      E-mail: gkaplan@fbm.com

Lake Tahoe Partners LLC, a single asset real estate, filed a
Chapter 11 bankruptcy petition (Bankr. N.D. Calif. Case No.
16-10150) on March 1, 2016.  The petition was signed by Tim Wilkens
as CEO.  The Debtors estimated assets in the range of $10 million
to $50 million and liabilities of at least $10 million.  The Law
Offices of Michael Brook serves as the Debtor's counsel.  Judge
Thomas E. Carlson represents the Debtor as counsel.


LAS AMERICAS: ALD Asks Court to Dismiss Ch. 11 Case
---------------------------------------------------
ALD Acquisition, LLC, asks the U.S. Bankruptcy Court to enter an
order dismissing the Las Americas 74-75, Inc.'s Chapter 11 case.

ALD asserts that the Debtor’s assets are primarily composed of
the consigned amount and Lot 75, and neither of which will
appreciate in value as a result of any efforts by Debtor or any
reorganization, nor will the Debtor's value be maximized through a
reorganization process, inasmuch as the value of Debtor's assets is
determined principally by market forces.

Furthermore, ALD stresses that the Debtor's financial problems
involve essentially a dispute between the Debtor and ALD which can
be adequately addressed and resolved in the pending State Court
Action, specifically since the disputed Lot 75 is the subject of a
foreclosure action as a result of arrearages on the Debtor’s debt
where the CFI has in personam jurisdiction.

According to ALD, the Debtor is not engaged in any regularly
conducted business activity that would benefit from reorganization,
as evidenced by the Disclosure Statement and plan of reorganization
which contemplate the sale of substantially all of its assets to
pay creditors and the Debtor also has no employees and no jobs to
preserve.

As such, ALD claims that the Debtor’s bankruptcy case does not
serve any legitimate bankruptcy purpose and the Plan is a
liquidating Chapter 11 plan that does not contemplate its
rehabilitation and continued operation. ALD emphasizes that the
Creditors’ and the estate’s best interest require the dismissal
of the Debtor’s bankruptcy case so as to avoid the accumulation
of additional administrative expenses and consequent diminution of
the estate. Every additional dollar incurred in administering the
case is one dollar less that can be paid to creditors, ALD added.

Finally, ALD contends that if the Court declines to dismiss the
case, it should abstain from exercising jurisdiction over the same
pursuant to Section 305 of the Bankruptcy Code which gives the
Court the authority and discretion to abstain from exercising
jurisdiction over and dismissing an otherwise properly filed case
if "the interests of creditors and the debtor would be better
served by such dismissal."

The Debtor sought and obtained extension of its exclusive period to
file an Amended Disclosure Statement and Amended Plan of
Reorganization through March 15, 2016.

Las Americas 74-75, Inc. is represented by:

     Carmen D. Conde Torres, Esq.
     C. CONDE & ASSOC.
     San Jose Street #254, 5th Floor
     San Juan, P.R. 00901-1253
     Telephone: (787) 729-2900
     Facsimile: (787) 729-2203
     Email: condecarmen@condelaw.com

ALD Acquisition, LLC is represented by:

     Mohammad Saleh Yassin, Esq.
     Charles A. Cuprill-Hernandez, Esq.
     CHARLES A. CUPRILL, P.S.C., LAW OFFICES
     356 Fortaleza Street - Second Floor
     San Juan, PR  00901
     Telephone: (787) 977-0515
     Facsimile: (787) 977-0518
     E-mail: m.yassin@cuprill.com
             ccuprill@cuprill.com

        About Las Americas 74-75

Las Americas 74-75, Inc., was incorporate in 2004 by Porfirio
Guzman and Maria M. Benitez, and is the owner of certain real
estate property located at the Hato Rey Ward, in San Juan, Puerto
Rico, right next to the reorganized area of Plaza Las Americas.

Las Americas 74-75, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R. Case No. 15-01527) on March 2,
2015.

The petition was signed by Omar Guzman Benitez, vice president.

The case is assigned to Judge Edward Godoy.

Las Americas 74-75 tapped Carmen Conde Torres, Esq., at C. Conde &
Associates, in San Juan, Puerto Rico, as counsel; and Albert
Tamarez Vasquez as accountant.

Las Americas disclosed total assets estimated at $21.2 million and
total debt estimated at $18.7 million.


LAS AMERICAS: Wants ALD Enjoined from Prosecuting State Court Suit
------------------------------------------------------------------
Las Americas 74-75, Inc., asks the U.S. Bankruptcy Court to enter a
preliminary injunction, and thereafter a permanent injunction,
enjoining ALD Acquisition, LLC, from impairing the Debtor's rights
under a Contract of Sale of Lot 74.

The Debtor asks the Court to specifically order ALD to cease and
desist from prosecuting in the State Court any cause of action
related directly or indirectly with the Sales Contract for Lot 74
executed by the Debtor and Walgreen de San Patricio, Inc.  The
Debtor further asks the Court to enjoin ALD from impairing the
Debtor’s rights as to the consigned funds amounting to
$13,732,659.

The Debtor tells the Court that prior to the bankruptcy filing, the
Debtor and/or El Piex entered into financial facilities with
different banks which were guaranteed by separate liens over each
of the properties of the Debtor, and from which ALD acquired the
mortgage notes for Lot 74 from by Oriental Bank & Trust PR, the
Debtor alleges. The Debtor continues saying that on several
occasions, ALD approached the Debtor to purchase Lots 74 and 75,
and however, upon the Parties' failure to reach an agreement as to
the purchase price on the properties, ALD pursued the Debtor with
collection actions for the purpose of gaining title of the
properties through foreclosure. On the other hand, Walgreens
purchased Lot 74 for $16M and the Debtor consigned the amount of
$13,732,659 as full payment to ALD for liens over Lot 74, the
Debtor added.

The Debtor further avers that the State Court issued a Summary
Judgment in resolution to the clarification sought as to the amount
claimed, in which the Court: "declared that the total amounts due
under the loans were $12,757,000, determined that the consignment
of funds made by the Debtor was correct, ordered the ALD to cancel
the mortgage notes and explicitly left to the parties the
reconciliation of the debt." However, ALD refused to accept payment
from the Debtor and/or the consigned funds, instead filed a claim
in the Bankruptcy Court for the total amount of $14,761,721 for
which the Debtor filed an objection, the Debtor continues.

The Debtor asserts that ALD's actions in the state court are an
attack against Walgreens, the Debtor, the Debtor's interest in the
property and property of the estate, and are geared to nullify the
sale of Lot 74 by the Debtor to Walgreens and the funds consigned
in the 2010 case. The actions of ALD expose the Debtor to possible
claims from Walgreens. The Debtor further asserts that the
Disclosure Statement and Plan of Reorganization have already been
filed and the main means of execution are the funds consigned from
the sale of the Lot 74 to Walgreens. If ALD's actions continue, the
reorganization of the Debtor will be thwarted and ALD's
interference with the contractual relationship between the Debtor
and Walgreens for the sale of Lot 74 will expose the Debtor and the
Debtor's estate to damages, the Debtor claims.

Although ALD filed a "Motion from Relief from the Automatic Stay"
requesting that the automatic stay be lifted in order to allow the
continuation of post judgment litigation in the 2010 Case, however,
as of this date ALD does not have an Order from the Bankruptcy
Court allowing it to proceed with the Appeal, thereby making its
actions blatant disregard to the protections afforded to the Debtor
by Section 362 of the Bankruptcy Code and are violation of the
automatic stay provision.

Las Americas 74-75, Inc. is represented by:

     Carmen D. Conde Torres, Esq.
     C. CONDE & ASSOC.
     San Jose Street #254, 5th Floor
     San Juan, P.R. 00901-1253
     Telephone: (787) 729-2900
     Facsimile: (787) 729-2203
     Email: condecarmen@condelaw.com

        About Las Americas 74-75

Las Americas 74-75, Inc., was incorporated in 2004 by Porfirio
Guzman and Maria M. Benitez, and is the owner of certain real
estate property located at the Hato Rey Ward, in San Juan, Puerto
Rico, right next to the reorganized area of Plaza Las Americas.

Las Americas 74-75, Inc., sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.P.R., Case No. 15-01527) on March 2,
2015.

The petition was signed by Omar Guzman Benitez, vice president.

The case is assigned to Judge Edward Godoy.

Las Americas 74-75 tapped Carmen Conde Torres, Esq., at C. Conde &
Associates, in San Juan, Puerto Rico, as counsel; and Albert
Tamarez Vasquez as accountant.

Las Americas disclosed total assets estimated at $21.2 million and
total debt estimated at $18.7 million.


LB STEEL: Can Use Cash Collateral Until April 8
-----------------------------------------------
LB Steel LLC received court approval to use the cash collateral of
its pre-bankruptcy lender until April 8, 2016.

The order, issued by Judge Janet Baer of the U.S. Bankruptcy Court
for the Northern District of Illinois, allowed the company to use
MB Financial Bank N.A.'s collateral to pay certain expenses.

The court order came after LB Steel's right to use the cash
collateral expired on March 12, according to court filings.

MB Financial asserts a secured claim on funds held in escrow with
First American Title Insurance Co. and those held in LB Steel's
bank account for loans it provided to the company in 2014.

The company had earlier paid more than $11 million to the bank as
"partial adequate protection" for the use of its cash collateral,
according to court filings.

Judge Baer will hold a status hearing on LB Steel's use of cash
collateral on April 6.

                          About LB Steel

LB Steel, LLC, provider of outsourced machining, fabrication,
burning, and assembly services, sought Chapter 11 bankruptcy
protection (Bankr. N.D. Ill. Case No. 15-35358) on Oct. 18, 2015.
Michael Goich signed the petition as president.  

The Debtor has engaged Perkins Coie LLP as counsel, Nisen & Elliott
as special counsel, Livingstone Partners LLC as investment banker,
and Garden City Group LLC as notice, claims and balloting agent.  


Judge Janet S. Baer is assigned to the case.

The Office of the U.S. Trustee appointed five creditors to serve on
the official committee of unsecured creditors.  The creditors are
Janco Steel LTD, Welding Industrial Supply Co., SSAB Americas, The
Walsh Group and EVRAZ North America.

The unsecured creditors' committee has engaged Duane Morris LLP as
counsel, and Honigman Miller Schwartz and Cohn LLP as special
counsel.

On Nov. 20, 2015, the Debtor disclosed total assets of $45,842,165
and total debts of $43,832,896.


MAGNETATION LLC: RSM US to Audit MAG Hourly Plan Financials
-----------------------------------------------------------
The Hon. Gregory F. Kishel of the U.S. Bankruptcy Court for the
District of Minnesota authorized Magnetation LLC, et al., to expand
the scope of employment of RSM US LLP as accountant and tax
advisor, nunc pro tunc to Dec. 1, 2015.

On June 11, 2015, the Debtors filed their original application to
employ McGladrey LLP as their independent accountant, nunc pro tunc
to June 1, 2015.  In the original application, the Debtors sought
authority to retain McGladrey to provide certain audit and tax
services, including providing tax advice concerning the Debtors'
tax matters during the chapter 11 cases and preparing the Debtors'
federal income tax and certain state income tax returns for the
year ending Dec. 31, 2014.

On Sept. 4, 2015, the Debtors filed a supplemental application to
expand the scope of the employment and retention of McGladrey as
their independent accountant and tax advisor nunc pro tunc to
Aug. 18, 2015.  In the First Supplemental Application, the Debtors
sought authority to expand the scope of McGladrey's services to
include certain tax controversy services.  On Oct. 15, 2015, the
Court entered an order approving the First Supplemental
Application.

On Oct. 26, 2015, McGladrey changed its name to RSM US LLP.

By the Second Supplemental Application, the Debtors request
authorization to expand the scope of RSM's retention as their
independent accountant and tax advisor in the cases on the terms
and conditions set forth in engagement letter agreements between
Mag LLC and RSM dated as of Dec. 1, 2015, and Dec. 4, 2015.

According to the Second Supplemental Application, the firm has
agreed to:

   a) audit the financial statements of the Mag Hourly Plan, which
comprise the statements of net assets available for benefits as of
Dec. 31, 2015 and 2014, the statements of changes in net assets
available for benefits for the year ended Dec. 31, 2015 and the
related notes to the financial statements;

   b) audit the financial statements of the Debtors, which comprise
the balance sheet as of Dec. 31, 2015, and the related statements
of operations, changes in members' equity, and cash flows for the
year then ended, and the related notes to the
financial statement; and

   c) prepare the Debtors' federal income tax and certain state
income tax returns for the year ending Dec. 31, 2015.

The Debtors agreed to compensate RSM for the Additional Services
rendered in the chapter 11 cases based on the value of the services
performed and the time required by the individuals
assigned to the engagement.

In addition to the hourly fees set forth in the Additional
Engagement Letters, the Debtors and RSM have agreed that the
Debtors will reimburse RSM for any actual, documented and
reasonable direct expenses incurred in connection with RSM's
retention in the cases and the performance of the Additional
Services.

Mary Beth Santori attested that RSM is a "disinterested person" as
that term is defined in Section 101(14) of the Bankruptcy Code.

                      About Magnetation LLC

Magnetation LLC -- http://www.magnetation.com/-- is a joint  
venture between Magnetation, Inc. (50.1% owner) and AK Iron
Resources, LLC, an affiliate of AK Steel Corporation (49.9%
owner).

Magnetation LLC recovers high-quality iron ore concentrate from
previously abandoned iron ore waste stockpiles and tailings
basins.

Magnetation LLC owns iron ore concentrate plants located in
Keewatin, MN, Bovey, MN and Grand Rapids, MN, and an iron ore
pellet plant in Reynolds, IN.

Magnetation LLC and four subsidiaries sought Chapter 11 bankruptcy
protection (Bankr. D. Minn. Lead Case No. 15-50307) in Duluth,
Minnesota, on May 5, 2015, after reaching a deal with secured
noteholders on a balance sheet restructuring. The cases are
assigned to Chief Judge Gregory F Kishel.

The Debtors have tapped Davis Polk & Wardwell LLP and Lapp, Libra,
Thomson, Stoebner & Pusch, Chtd., as attorneys; Blackstone
Advisory Partners LP as financial advisor; and Donlin, Recano &
Company, Inc., as the claims agent.

The U.S. Trustee for Region 12 appointed three creditors of
Magnetation LLC to serve on an official committee of unsecured
creditors.


MAGNUM HUNTER: Delays Annual Report; Expects Drop in Revenues
-------------------------------------------------------------
Magnum Hunter Resources Corporation advised the Securities and
Exchange Commission that its Annual Report on Form 10-K for the
fiscal year ended Dec. 31, 2015, will be delayed.

The Company blamed its Chapter 11 filing in December as the cause
for the delay.

"In consideration of the additional time required to evaluate the
effects of these events on the financial statements and disclosures
included in the Company's Annual Report on Form 10-K (the "Form
10-K"), the Form 10-K cannot be timely filed without unreasonable
effort and expense," said Joseph C. Daches, Senior Vice President
and Chief Financial Officer, in a regulatory filing called a Form
NT 10-K.

He added, "The Company is not in a position to provide specific
estimates of anticipated significant changes in results of
operations from the fiscal year ended December 31, 2014 to the
fiscal year ended December 31, 2015 that may be reflected in the
financial statements to be included in the Company's Form 10-K for
the fiscal year ended December 31, 2015.

"The Company, however, anticipates that total revenues and income
from operations for the year ended December 31, 2015 will be
significantly lower than the year ended December 31, 2014 as a
result of lower commodity prices. Further, as a result of decreased
oil and natural gas prices, the Company expects to report
significant noncash impairments of proved oil and gas properties
for the year ended December 31, 2015."

                  About Magnum Hunter Resources

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.

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.

Counsel to the agent under the Debtors' second lien credit
facility
is Latham & Watkins LLP's J. Michael Chambers, Esq.  The ad hoc
group of second lien lenders is represented by Weil, Gatshal &
Manges LLP's Joseph Smolinsky, Esq. and Gary Holtzer, Esq.

Counsel to the indenture trustee under the Debtors' 9.75% senior
unsecured notes due 2020 are Arent Fox LLP's Andrew I. Silfen,
Esq.
and Jeffrey N. Rothleder, Esq.  Counsel to the ad hoc group of
noteholders are Akin Gump Strauss Hauer & Feld LLP's Michael
Stamer, Esq. and Arik Preis, Esq.

The agent under the Debtors' debtor-in-possession credit facility
is represented by Shipman & Goodwin LLP's Nathan Z. Plotkin, Esq.

Counsel to the official committee of unsecured creditors is Ropes
&
Gray LLP's Mark R. Somrestein, Esq.


MAGNUM HUNTER: Shen/Pantin Equity Holders Seeks Committee
---------------------------------------------------------
A group of 201 non-insider equity holders of Magnum Hunter
Resources Corporation asked the U.S. Bankruptcy Court to direct the
U.S. Trustee to appoint an official committee of equity security
holders in the Debtors' Chapter 11 cases on the premise that the
Debtors were solvent on the Petition Date.

According to the equity holders' group, they hold 18,084,419 shares
of common stock; 299,693 shares of preferred class C stock; 355,371
shares of preferred class D stock; and 32,220 shares of preferred
class E stock.

The group points out that, on the Petition Date, the Debtors had
total prepetition liabilities of approximately $1.1 billion and
reported asset values aggregating approximately $1.5 billion on a
conservatively estimated basis, and that, therefore, the Debtors
are not hopelessly insolvent and there may be value for the
existing shareholders.

The Equity Holders are led by He Shen of New York and Axel Pantin
of Delray Beach, Florida.

                        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.

The U.S. Trustee has named three members to the Official Committee
of Unsecured Creditors.  The Committee retains Ropes & Gray LLP as
counsel, Cole Schotz P.C. as Delaware co-counsel, and Berkeley
Research Group, LLC as its financial advisor.


MARINA BIOTECH: Microlin to Buy Nucleic Acid Therapeutic Assets
---------------------------------------------------------------
Microlin Bio, Inc., a development stage biotechnology company
focused on the development of microRNA based therapeutics for
cancer and Marina Biotech, Inc., have executed a term sheet under
which Microlin intends to acquire Marina's nucleic acid
therapeutics assets.  Pending the negotiation of the definitive
agreement and company shareholder approvals.  Microlin is expected
to acquire Marina's nucleic acid therapeutics assets for 6.7
million common shares and approximately $1 million in cash.

The Marina assets to be acquired will include a Phase 1 program for
the treatment of Familial Adenomatous Polyposis which has both U.S.
FDA Orphan Drug and Fast Track designations as well as Marina's
multiple licensing and partnership agreements.  In addition,
Microlin will be acquiring a global intellectual property estate
with 148 issued or allowed patents and over 95 pending patents,
which provide broad coverage for both novel nucleic acid
chemistries and delivery technologies.

"We are pleased to have taken this first step to acquiring Marina's
nucleic acid therapeutics assets," stated Joseph Hernandez, CEO and
Chairman at Microlin Bio.  "We believe that the technology and
intellectual property estate will be a significant addition to
Microlin's novel micoRNA drug discovery platform.  We plan to take
full advantage of our new IP position by exploring and developing
novel chemistry modifications and delivery formulations for the
further advancement of our novel microRNA therapeutics pipeline.
In addition, Marina's Phase 1 program will provide Microlin with a
clinical asset which we could advance to first commercial launch
within three years.  In addition to Marina's existing agreements,
we believe we will be able to continue to leverage Marina's broad
nucleic acid drug discovery capabilities to add incremental value
through new licensing and partnering agreements.  We look forward
to working with the Marina team to conclude this transaction as
quickly as possible."

Microlin's purchase of Marina's nucleic acid therapeutics assets is
expected to close by July 1, 2016, pending execution of the
definitive asset purchase agreement, subsequent approval by Marina
stockholders and Microlin's completion of a financing of at least
$5 million.

"The Marina Board of Directors and I believe the sale of our
nucleic acid therapeutic assets to Microlin is the first step in
creating the greatest value opportunity for our shareholders,"
stated J. Michael French, president and CEO at Marina Biotech.  "We
believe that our proprietary chemistries and delivery technologies
are best suited for development of therapeutic compounds that
modulate non-coding RNA.  Therefore, we feel strongly that these
technologies are synergistic and complimentary to Microlin's novel
microRNA assets and that Microlin is in a strong position to move
these assets forward.  We believe the second step to creating value
for our shareholders is the acquisition of other assets or perhaps
a reverse merger.  The combination of two transactions permits
Marina shareholders the potential to recognize value through two
diverse clinical efforts - nucleic acid therapeutics with Microlin
and another asset we're currently in the process of identifying and
negotiating.  We look forward to working with the Microlin team to
build value through the integration of Marina's technologies."

Objective Capital Partners, LLC served as financial advisor to
Marina Biotech in the transaction.

                      About Marina Biotech

Marina Biotech, Inc., headquartered in Bothell, Washington, is a
biotechnology company focused on the discovery, development and
commercialization of nucleic acid-based therapies utilizing gene
silencing approaches such as RNA interference ("RNAi") and
blocking messenger RNA ("mRNA") translation.  The Company's goal
is to improve human health through the development, either through
its own efforts or those of its collaboration partners and
licensees, of these nucleic acid-based therapeutics as well as the
delivery technologies that together provide superior treatment
options for patients.  The Company has multiple proprietary
technologies integrated into a broad nucleic acid-based drug
discovery platform, with the capability to deliver novel nucleic
acid-based therapeutics via systemic, local and oral
administration to target a wide range of human diseases, based on
the unique characteristics of the cells and organs involved in
each disease.

On June 1, 2012, the Company announced that, due to its financial
condition, it had implemented a furlough of approximately 90% of
its employees and ceased substantially all day-to-day operations.
Since that time substantially all of the furloughed employees have
been terminated.  As of Sept. 30, 2012, the Company had
approximately 11 remaining employees, including all of its
executive officers, all of whom are either furloughed or working
on reduced salary.  As a result, since June 1, 2012, its internal
research and development efforts have been minimal, pending
receipt of adequate funding.

Marina Biotech reported a net loss of $6.47 million on $500,000 of
license and other revenue for the year ended Dec. 31, 2014,
compared to a net loss of $1.57 million on $2.11 million of license
and other revenue in 2013.

As of Sept. 30, 2015, the Company had $8.12 million in total
assets, $8.52 million in total liabilities and a $400,000 total
stockholders' deficit.

Wolf & Company, P.C., in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing the Company has suffered
recurring losses from operations, has a significant accumulated
deficit and has been unable to raise sufficient capital to fund its
operations through the end of 2015.  This raises substantial doubt
about the Company's ability to continue as a going concern, the
auditors noted.


MARINA BIOTECH: Signs License Agreement for Genome Editing Tech
---------------------------------------------------------------
Marina Biotech, Inc., announced that it has entered into a license
agreement covering the company's SMARTICLES and DiLA2 platforms for
the delivery of an undisclosed genome editing technology.  The
agreement is notable in that it provides an exclusive access to
Marina's SMARTICLES and DiLA2 platforms for a different gene
editing field than was announced on Feb. 17, 2016.  This represents
the first time that the company's combined delivery platforms,
SMARTICLES and DiLA2 technologies, have been licensed in connection
with gene editing.  Under terms of the agreement, Marina could
receive up to $40MM in success based milestones. Further details of
the agreement were not disclosed.

"With the execution of this gene editing delivery license
agreement, the company extends its runway beyond the end of March,"
stated J. Michael French, president and CEO of Marina Biotech.  "We
are now beginning to see the rapid expansion of our delivery
technologies in other therapeutic areas and hope to continue to
capitalize on our ability to deliver nucleic-acid based compounds.
We hope that the unique properties of delivery technologies provide
new therapeutic opportunities to the patient community."

                      About Marina Biotech

Marina Biotech, Inc., headquartered in Bothell, Washington, is a
biotechnology company focused on the discovery, development and
commercialization of nucleic acid-based therapies utilizing gene
silencing approaches such as RNA interference ("RNAi") and
blocking messenger RNA ("mRNA") translation.  The Company's goal
is to improve human health through the development, either through
its own efforts or those of its collaboration partners and
licensees, of these nucleic acid-based therapeutics as well as the
delivery technologies that together provide superior treatment
options for patients.  The Company has multiple proprietary
technologies integrated into a broad nucleic acid-based drug
discovery platform, with the capability to deliver novel nucleic
acid-based therapeutics via systemic, local and oral
administration to target a wide range of human diseases, based on
the unique characteristics of the cells and organs involved in
each disease.

On June 1, 2012, the Company announced that, due to its financial
condition, it had implemented a furlough of approximately 90% of
its employees and ceased substantially all day-to-day operations.
Since that time substantially all of the furloughed employees have
been terminated.  As of Sept. 30, 2012, the Company had
approximately 11 remaining employees, including all of its
executive officers, all of whom are either furloughed or working
on reduced salary.  As a result, since June 1, 2012, its internal
research and development efforts have been minimal, pending
receipt of adequate funding.

Marina Biotech reported a net loss of $6.47 million on $500,000 of
license and other revenue for the year ended Dec. 31, 2014,
compared to a net loss of $1.57 million on $2.11 million of license
and other revenue in 2013.

As of Sept. 30, 2015, the Company had $8.12 million in total
assets, $8.52 million in total liabilities and a $400,000 total
stockholders' deficit.

Wolf & Company, P.C., in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing the Company has suffered
recurring losses from operations, has a significant accumulated
deficit and has been unable to raise sufficient capital to fund its
operations through the end of 2015.  This raises substantial doubt
about the Company's ability to continue as a going concern, the
auditors noted.


MDC PARTNERS: S&P Assigns 'B+' Rating on Proposed Sr. Unsec. Notes
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B+' issue-level
rating to NYC-based MDC Partners Inc.'s proposed senior unsecured
notes due 2024.  S&P also assigned its '4' recovery rating to the
notes, indicating its expectation for average recovery (30%–50%;
upper half of the range) of principal in the event of a payment
default.

S&P expects MDC will use the issuance proceeds to redeem its
existing $735 million, 6.75% senior notes due 2020.

S&P's 'B+' corporate credit rating and positive rating outlook on
MDC remains unchanged.  The positive outlook reflects S&P's
expectation that MDC Partners' operating performance will remain
strong, improving the likelihood that the company's adjusted
leverage could decline to below 5x by the end of 2016.

The fair business risk assessment reflects the company's healthy
business prospects, improved margins and consistently reported
organic revenue growth rates above those of its ad agency peers.

S&P views MDC's financial risk profile as highly leveraged.  S&P
expects adjusted leverage (pro forma the transaction) will likely
be below 6.0x as of Dec. 31, 2015.  Adjusted leverage included $347
million in deferred acquisition payments ("earnouts"), which are
only paid out when the acquired companies achieve specific EBITDA
results, and $18 million in put obligations.  In addition to the
earnouts, S&P also adjusts MDC Partners' debt for the present value
of operating leases ($204 million as of Dec. 31, 2015).

RATINGS LIST

MDC Partners Inc.
Corporate Credit Rating                   B+/Positive/--

New Ratings

MDC Partners Inc.
Senior unsecured notes due 2024           B+
  Recovery Rating                          4


METROPOLITAN AUTOMOTIVE: $23M Sale to Parts Authority Metro Okayed
------------------------------------------------------------------
Judge Wayne Johnson on March 11, 2016, entered an order authorizing
Metropolitan Automotive Warehouse, Inc. and Star Auto Parts, Inc.,
to sell substantially all assets to Parts Authority Metro, LLC, for
a total consideration of in excess of $23 million.

The sale to PAM, in addition to the recovery from other assets
excluded from the sale, is estimated to provide enough value to pay
off secured claims and projected administrative claims in full,
plus provide a small recovery to unsecured creditors.

Richard M. Pachulski, the Debtors' CRO, said PAM's purchase price
consists of the following: (i) $3.4 million cash, (ii) cash in an
amount equal to the value of inventory and accounts receivable
based on a sliding scale based on age, and (iii) a note providing
for a payment of up to $750,000 to unsecured creditors in the event
the Stalking Horse Bidder's 2017 economic results achieve certain
benchmarks.

The Debtors began the marketing process prepetition.  On Jan. 29,
the Debtors filed proposed sale procedures, and a protocol for
soliciting and selecting a stalking horse bidder.  On Feb. 23, the
Court obtained approval of the selection of PAM as the stalking
horse bidder.  The Court on Feb. 23 also approved the bid
procedures, setting a March 4 bid deadline, and a March 7 auction.
As no overbids were received, the Debtors cancelled the auction and
selected Parts Authority as the successful bidder.  Following a
sale hearing on March 10 and 11, Judge Johnson approved the sale.

Secured creditor Bank of the West consented to the sale. CWD, LLC,
and Motorcar Parts of America, Inc., did not file objections to the
sale.

Marc A. Bilbao, managing director of Imperial Capital, LLC, the
investment banker of the Debtors, said that unless a sale of the
Debtors' assets is expeditiously consummated, the enterprise value
of the Debtors' assets will significantly deteriorate.

The Debtors anticipate a March 18 closing of the sale.  For every
week after March 18 that closing of a sale is delayed, the Debtors
expect the estates will sustain a net loss of approximately
$400,000.

Karl Pearson, managing director at SierraConstellation Partners,
says the proposed going concern sale will realize close to four
times the value realized from a liquidation, if not more, will
preserve jobs of 720+ employees, allow trade creditors to continue
to generate sales and profits from continuing business ($15
million) with the going concern, and preserve sources from which to
recover for unsecured creditors.  SCP stated that if the Debtors
were forced to liquidate their assets, it is expected that the
estates would realize approximately $6 million in net sale
proceeds, all of which are secured by the liens of PAM (on account
of the DIP Financing it provided) and the Bank of the West ("Bank")
on account of its Prepetition Loan Agreement.

The buyer, Parts Authority Metro, LLC, is a newly formed subsidiary
of Parts Authority, Inc., a New York corporation ("Parts
Authority").  Parts Authority is one of the largest distributors of
automotive and truck parts on the East Coast. Based in New York,
Parts Authority was established in 1972. Parts Authority carries an
extensive inventory which includes parts for domestic vehicles,
import vehicles and trucks. Parts Authority also offers
transmission parts, fleet parts, taxi parts and automotive
equipment.

Randy Buller, president of Parts Authority Metro LLC ("PAM"),
attested that no present or contemplated officers, directors or
shareholders of PAM or any of its affiliates (including, but not
limited to, Parts Authority), is an "insider" of either of the
Debtors as that term is defined in section 101(31) of the
Bankruptcy Code.

A copy of the Sale Order is available for free at:

   http://bankrupt.com/misc/Metro_Auto_324_Sale_Order.pdf

A copy of the execution version of the PAM APA is available for
free at:

   http://bankrupt.com/misc/Metro_Auto_321_PAM_APA.pdf

                           *     *     *

TCF Equipment Finance said in an objection that the cure amounts in
connection with the assignment of its lease to the buyer must
include no less than $4,612.50 in attorneys' fees.  The Debtors
responded that TCF has provided no evidence to support any claim to
attorneys' fees.

Parts Authority Metro's attorneys:

     ASK LLP
     Attn: Joseph Steinfeld
           Marianna Udem, Esq.
     151 West 46th Street, 4th Floor,
     New York NY
     E-mail jsteinfeld@askllp.com
            mudem@askllp.com

                     About Metropolitan Automotive

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.  Metropolitan 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 Metropolitan,
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.  

Metropolitan and Star Auto employ approximately 1,000 persons.

Metropolitan Automotive Warehouse, Inc. and Star Auto Parts sought
Chapter 11 protection (Bankr. C.D. Cal.) on Jan. 6, 2016.  The
cases are jointly administered under Case No. 16-10096.  Judge
Wayne E. Johnson is assigned to the cases.  The petitions were
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.

Richard Pachulski serves as the Debtors' CRO.  Winthrop Couchot
Professional Corporation serves as the Debtor's counsel.
SierraConstellation Partners is the Debtors' financial advisor.
Imperial Capital, LLC, is the investment banker.

A 7-member panel has been appointed as the official committee of
unsecured creditors in the Debtor's case.  The Creditors Committee
retained Sidley Austin LLP as its counsel; and Alvarez & Marsal
North America, LLC, as financial advisor.


METROPOLITAN AUTOMOTIVE: $7.5M DIP Financing From Buyer Approved
----------------------------------------------------------------
The Bankruptcy Court on Feb. 29 entered an interim order
authorizing Metropolitan Automotive Warehouse, Inc., and Star Auto
Parts, Inc., to obtain up to $7.5 million of DIP financing from
proposed buyer Parts Authority Metro LLC.

In order to continue to operate their businesses, subject to the
terms and conditions of this Interim Order and the other DIP Loan
Documents, the Debtors are authorized to borrow under the DIP
Facility up to an aggregate principal amount of $7,500,000 only for
the purposes set forth in the DIP Loan Documents, (i) $5,000,000 of
which will be funded within 3 business days after entry of the
Interim Order to repay and replace the Existing DIP Facility and
for use in accordance with Section 3.01 of the DIP Credit Agreement
and (ii) $2,500,000 of which will be funded within one Business Day
after the Sale Hearing in the event the DIP Lender is chosen and
approved as the Successful Bidder, for use in accordance with
Section 3.01 of the DIP Credit Agreement through the proposed
closing of the sale on March 19, 2016.

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

     http://bankrupt.com/misc/Metro_Auto_285_Int_DIP_Ord.pdf

                     About Metropolitan Automotive

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.  Metropolitan 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 Metropolitan,
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.  

Metropolitan and Star Auto employ approximately 1,000 persons.

Metropolitan Automotive Warehouse, Inc. and Star Auto Parts sought
Chapter 11 protection (Bankr. C.D. Cal.) on Jan. 6, 2016.  The
cases are jointly administered under Case No. 16-10096.  Judge
Wayne E. Johnson is assigned to the cases.  The petitions were
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.

Richard Pachulski serves as the Debtors' CRO.  Winthrop Couchot
Professional Corporation serves as the Debtor's counsel.
SierraConstellation Partners is the Debtors' financial advisor.
Imperial Capital, LLC, is the investment banker.

A 7-member panel has been appointed as the official committee of
unsecured creditors in the Debtor's case.  The Creditors Committee
retained Sidley Austin LLP as its counsel; and Alvarez & Marsal
North America, LLC, as financial advisor.


METROPOLITAN AUTOMOTIVE: BOTW OKs $1.5M Carve-Out from Proceeds
---------------------------------------------------------------
The Bankruptcy Court approved, on a final basis, a stipulation
entered into by Metropolitan Automotive Warehouse, Inc., and Star
Auto Parts, Inc., with secured creditor Bank of the West; and CWD,
LLC.

The Stipulation governs the limited use of BOTW's first priority
perfected, security interest in substantially all of the personal
property assets of the Debtor.  The Stipulation also governs the
limited use of CWD's asserted second priority security interest in
inventory and other assets of the Debtors.

Pursuant to a stipulation, BOTW agrees to carve out and not assert
its lien on $1,500,000 of sale proceeds which amount will be paid
to the Debtors' estates.  BOTW will be entitled to and will receive
all amounts exceeding the carve-out until its allowed claim is paid
in full.  If a third party overbids Parts Authority Metro, LLC's
$23 million stalking horse bid, BOTW will carve out and not a
assert its lien on amount up to an additional $1,000,000 of the
overbid sale proceeds, which amount will be paid to the Debtors'
estates.  Further, if sale proceeds exceeding the Overbid Carve-Out
exist, BOTW and the Debtors' estates each will receive 50% of the
proceeds until BOTW's allowed claim is paid in full.

The Stipulation authorizes the Debtors to use cash collateral until
March 19, 2016, the expected closing date of the assets sale.  As
adequate protection BOTW will receive replacement liens and
superpriority administrative claims.

A copy of the Stipulation is available for free at:

    http://bankrupt.com/misc/Metro_Auto_266_Lender_Stip.pdf

Attorneys for Bank of the West:

          KATTEN MUCHIN ROSENMAN LLP
          William Freeman
          Craig Barbarosh
          Jessica Micckelsen Simon
          E-mail: bill.freeman@kattenlaw.com

Attorneys for CWD:

          SULMEYERKUPETZ
          Victor Sahn
          E-mail: vsahn@sulmeyerlaw.com

                     About Metropolitan Automotive

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.  Metropolitan 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 Metropolitan,
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.  

Metropolitan and Star Auto employ approximately 1,000 persons.

Metropolitan Automotive Warehouse, Inc. and Star Auto Parts sought
Chapter 11 protection (Bankr. C.D. Cal.) on Jan. 6, 2016.  The
cases are jointly administered under Case No. 16-10096.  Judge
Wayne E. Johnson is assigned to the cases.  The petitions were
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.

Richard Pachulski serves as the Debtors' CRO.  Winthrop Couchot
Professional Corporation serves as the Debtor's counsel.
SierraConstellation Partners is the Debtors' financial advisor.
Imperial Capital, LLC, is the investment banker.

A 7-member panel has been appointed as the official committee of
unsecured creditors in the Debtor's case.  The Creditors Committee
retained Sidley Austin LLP as its counsel; and Alvarez & Marsal
North America, LLC, as financial advisor.


MID-STATES SUPPLY: SSG and Frontier Okayed as Investment Bankers
----------------------------------------------------------------
The Hon. Cynthia A. Norton of the U.S. Bankruptcy Court for the
Western District of Missouri, according to Mid-States Supply
Company, Inc.'s case docket, approved the Debtor's application to
employ SSG Advisors, LLC and Frontier Investment Banc Corporation
as investment bankers.

On Feb. 10, the Court entered an interim order, authorizing the
Debtor to employ the investment banker.

The investment banker is expected to provide these services to the
Debtor:

   1. Sale:

          -- prepare an information memorandum describing the  
          Debtor,its historical performance including existing
          operations, facilities, contracts, customers, management

          and projected financial results and operations;   

          -- assist the Debtor in developing a list of suitable
          potential buyers who will be contacted on a discreet and

          confidential basis after approval  the Debtor;

          -- coordinate agreements for potential buyers wishing to

          review the information memorandum.

   2. Financing:

          -- assist the Debtor in coordinating site visits for
          interested leaders and investors and working with the
          management team to develop appropriate presentations for

          the visits;

          -- solicit competitive offers from potential lenders and

          investors; and

          -- assist the Debtor and its other professionals, as
          necessary, through closing on a best efforts basis.

   3. Restructuring:

          -- negotiate and assist the Debtor and its counsel in
          reviewing secured debt documents and meeting with
          lenders,lessors and critical creditors regarding long
          term extension agreements and other restructuring
          arrangements;

          -- work with critical vendors to secure alternative and
          credit; and

          -- assist the debtor and its professionals, as
          necessary, through closing on a best effort basis.

The fee structure provides for:

   1. an initial fee of $30,000;

   2. monthly fees of $25,000 per month;

   3. sale fee in cash equal to the greater of 9i) $500,000; or
(ii) 2.5% of total consideration.  If the sale transaction takes
the form of a liquidation of the debtor, the sale fee will be
$250,000.

   4. upon the closing of a financing transaction, investment
banker will be entitled to a fee payable in cash equal to the
greater of (i) $500,000 or (ii) 2.5! of any senior debt raised from
any source plus 6% of any Tranche B, Traditional Subordinated Debt
or Equity raised regardless of whether the Debtor chooses to draw
down the full amount of the financing.

   5. upon the closing of a restructuring transaction, investment
banker will be entitled to a fee payable in cash equal to $00,000.

The investment banker will also be entitled to reimbursement of all
reasonable out-o-pocket expenses.

SSG and Frontier's fee sharing is subject to a side letter
engagement between SSG and Frontier.  SSG and Frontier agreed to
split the compensation as (i) SSG will receive 60% and Frontier
will receive 40%of the monthly fee and any transaction fee; and
(ii) SG will receive 50% and Frontier will receive 50% of the
initial fee.

To the best of the Debtor's knowledge, the firms are "disinterested
persons" as that term is defined in Section 101(14) of the
Bankruptcy Code.       

                    About Mid-States Supply

Founded and headquartered in Kansas City, Missouri, Mid-States
Supply Company, Inc., supplier of pipes, valves and fittings to
ethanol, pipeline and power industries in the United States, filed
a Chapter 11 bankruptcy petition (Bankr. W.D. Mo. Case No.
16-40271) on Feb. 7, 2016.  The petition was signed by Stuart
Noyes
as chief restructuring officer.  The Debtor estimated both assets
and liabilities in the range of $50 million to $100 million.

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

An official committee of unsecured creditors has been appointed in
the case and is represented by Marcus A. Helt, Esq., and Michael S.
Haynes, Esq., at Gardere Wynne Sewell LLP.


MILWAUKEE ACADEMY: S&P Lowers Rating on $12MM 2013 Bonds to BB+
---------------------------------------------------------------
Standard & Poor's Ratings lowered its long term rating on the
Milwaukee Redevelopment Authority, Wis.' $12 million series 2013
redevelopment education refunding revenue bonds issued on behalf of
the Milwaukee Science Education Corp. Inc., doing business as
Milwaukee Academy of Science, to 'BB+' from 'BBB-'.  The outlook is
stable.

"The downgrade reflects two years of operating deficits, and a
history of uneven financial performance, which has led to variable
coverage levels," said Standard & Poor's credit analyst Laura
Kuffler-Macdonald.  In addition, the maximum annual debt service
(MADS) of 1.1x is not consistent with the 'BBB-' rating.  

The rating reflects S&P's view of the school's:

   -- History of fluctuating operating performance, with fiscal
      years 2014 and 2015 generating an operating deficit;

   -- MADS coverage of 1.1x, resulting in very limited flexibility

      for operating pressures;

   -- No waiting list, although retention remains moderately good;

      and

   -- Inherent uncertainty associated with charter renewals given
      that the bonds' final maturity exceeds the time horizon of
      the existing charter.

Partially offsetting the above weaknesses, in S&P's view, are the
schools:

   -- Relatively large revenue base, with more than 1,000
      students;

   -- Specialized curriculum emphasizing the sciences, which
      continues to serve as a competitive edge;

   -- Independent authorizer in the form of the City of Milwaukee
      rather than a competing school district;

   -- Solid liquidity position for the rating; and

   -- Manageable debt levels, with no near-term plans to
      significantly increase debt.

The academy is a public kindergarten through 12th-grade (K-12)
charter school in downtown Milwaukee.  The $12 million series 2013
fixed-rate bonds is the school's only debt.  School revenue and a
mortgage on the school's facilities secure the bonds.  Among the
facilities excluded from the mortgage are the unoccupied topmost
seven floors of a tower that the school is exploring divesting.

The stable outlook reflects or view that the school will maintain
its demand profile, good academic performance and will improve its
operations to achieve breakeven operating results.

Although S&P don't envision doing so over the one-year outlook
period, it could lower the rating if enrollment level declines,
MADS continue to produce negative operating margins, or if coverage
declines below 1x.

A higher rating is unlikely in the next year but is possible beyond
that if coverage levels exceed 1.5x, cash improves to more than 100
days, and debt levels remain manageable.


MJC AMERICA: Hires Eric Stone as Special Litigation Counsel
-----------------------------------------------------------
MJC America, Ltd. seeks authorization from the Hon. Sandra R. Klein
of the U.S. Bankruptcy Court for the Central District of California
to employ the Law Office of Eric L. Stone LLC as special litigation
counsel.

The Debtor requires the firm to assist with legal guidance and
representation, in a civil penalty matter currently before the
Consumer product Safety Commission, regarding certain dehumidifiers
manufactured by Gree Electric Appliances, Inc. and to address those
additional matters for which the firm expressly agrees to provide
representation.

The hourly rate of Eric L. Stone is $475.

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

Pursuant to the retainer letter between Debtor and the Firm, Debtor
have agreed to pay a total retainer of $20,000. The funds will come
from one of Debtor’s affiliates and not the Debtor.

Mr. Stone 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.

The firm can be reached at:

       Eric L. Stone, Esq.
       LAW OFFICE OF ERIC L. STONE LLC
       14524 Kings Grant St.
       North Potomac, MD 20878
       Tel: (301) 424-0270
       E-mail: ericstone@ericstonelaw.com

                       About MJC America

MJC America, Ltd., doing business as Soleus Air System --
http://www.soleusair.com/-- which sells Soleus-branded air    
conditioners and heaters in the U.S., filed for Chapter 11
bankruptcy protection (Bankr. C.D. Cal. Case No. 13-39097) in Los
Angeles on Dec. 10, 2013.

The Debtor selected Law Offices of David A. Tilem ("TILEM") as its
general bankruptcy counsel.  Winston & Strawn LLP serves as
special litigation counsel.

MJC disclosed $14.0 million in total assets and $15.9 million in
liabilities in its schedules.  Accounts receivable of $9.22 million
and inventory of $4.12 million comprise most of the
assets.  East West Bank has a scheduled secured claim of $2.1
million on a line of credit, and Hong Kong Gree Electric
Appliances Sales, Ltd., is owed $4.07 million, but only $288,000
is secured.



MODULAR SPACE: Moody's Puts 'Caa2' Ratings on Review for Upgrade
----------------------------------------------------------------
Moody's Investors Service placed the Caa1 corporate family rating
of Modular Space Holdings, Inc. (ModSpace) and the Caa2 rating of
senior secured notes issued by ModSpace's wholly owned subsidiary
Modular Space Corporation on review for upgrade following the
company's announcement that it has entered into a conditional
agreement to merge with Williams Scotsman International, Inc.
("William Scotsman"), a subsidiary of Algeco Scotsman ("Algeco",
Algeco Scotsman Global S.A.R.L.'s corporate family rating B3, on
review for downgrade), with ModSpace as the surviving entity.

RATINGS RATIONALE

The review for upgrade is based on the potentially positive credit
effects of the proposed transaction on the combined entity's
franchise strength, operating efficiency and profitability, and
liquidity. ModSpace expects the transaction, which is subject to a
number of conditions, including regulatory approvals, to close in
the second or third quarter of 2016.

The transaction will significantly increase ModSpace's scale,
expanding its fleet to approximately 150,000 from about 70,000
units, and could improve its operating leverage through cost
rationalizations based on overlapping locations, which could allow
it to return to profitability. ModSpace's financial performance is
currently weak, with the company posting a pre-tax loss of $8.5
million in the quarter ended December 31, 2015, consistent with its
performance in the fiscal year ended September 30, 2015 when it
reported a $34.1 million pre-tax loss. The company's leverage
remains high, with Debt to EBITDA measuring 8.7x for trailing
twelve months ended December 31, 2015.

During the review, Moody's will assess the future profitability of
the merged entity, its leverage, as well as its liquidity
position.

The companies are currently evaluating various financing options
for the transaction, which will likely include a combination of
debt and equity funding, including a new asset based lending (ABL)
facility. Moody's expects ModSpace will be able to extend the
maturity of its existing ABL facility, due in June 2016, until the
transaction is consummated.

ModSpace's ratings could be upgraded if Moody's determines that the
merged entity will have significantly improved profitability and
lower leverage. Ratings could be confirmed if Moody's concludes
that the merged entity's profitability and leverage will not
materially improve from ModSpace's current levels in the next four
quarters following the transaction close.

Although not expected, if the combined entity's capital structure
results in materially higher leverage or if ModSpace fails to renew
or extend its existing ABL facility, maturing in June of 2016, then
its ratings could be lowered.

Based in Berwyn, PA, ModSpace is a North America-based provider of
modular buildings, storage, and services for temporary and
permanent space needs.


MOLYCORP INC: Credit Bid Must be Accepted, Noteholders Argue
------------------------------------------------------------
The Ad Hoc Group of Holders of the 10% Senior Secured Notes issued
by Molycorp, Inc., asks the U.S. Bankruptcy Court to compel the
Debtors to comply with the Bidding Procedures Order by accepting
the secured creditors' bid for their collateral held by Molycorp
Minerals, or in the alternative convert the cases of of Molycorp
Minerals, LLC, PPV IV Mountain Pass II, Inc., PPV Mountain Pass,
Inc., and RCF IV Speedwagon Inc., to liquidation under chapter 7 of
the Bankruptcy Code.

According to the Noteholders, the Debtors' sales process has now
concluded, and the only bid for the assets of Molycorp Minerals was
a credit bid for substantially all collateral submitted at the
direction of the Ad Hoc 10% Noteholders.  Accordingly, the only
credible path forward for Molycorp Minerals is to finalize the
transfer of the 10% Noteholders' collateral pursuant to this credit
bid.  But the Debtors refuse to do that.  Instead, the Debtors have
now decided that certain property owned by Molycorp Minerals -- and
that indisputably secures the 10% Notes -- is actually not for
sale, and will instead be transferred to the Neo Debtors for
unknown (or no) consideration.  Moreover, the Debtors have refused
to deem the secured creditor bid a "qualified bid," even with
respect to collateral that the Debtors are not attempting to pull
off the auction block.

The Noteholders assert that the right to credit bid is an
additional fundamental protection provided to secured creditors in
bankruptcy, under Section 363(k) of the Bankruptcy Code, which
insures against the undervaluation of the secured claim at an asset
sale.  The Ad Hoc 10% Noteholders further assert that the Bidding
Procedures Order expressly recognizes this right: "Holders of the
10% Notes are permitted to submit a credit bit . . . in an amount
up to the full amount of their prepetition claims for the Molycorp
Minerals Assets and a corresponding amount of such claims that are
secured on a pari passu basis with respect to such collateral," and
this specifically applies to all collateral held by Molycorp
Minerals.

The Ad Hoc 10% Noteholders further assert that the Debtors' refusal
to designate the Credit Bid as a "qualified bid" violates the
express terms of the Bidding Procedures Order. Likewise, the
Debtors have belatedly attempted to exclude valuable collateral
owned by Molycorp Minerals from the Ad Hoc 10% Noteholders' credit
bid, which includes: intellectual property, contracts, and other
property related to Molycorp's proprietary rare-earth based water
treatment products, the Molycorp tradename, and other intellectual
property owned by Molycorp Minerals and used by other Debtors, the
Ad Hoc 10% Noteholders added.

In the alternative, the Ad Hoc 10% Noteholders argue that
conversion is appropriate in these cases due to absence of the
Debtors working towards a sale of the Molycorp Minerals collateral
considering that Molycorp Minerals will continue to generate
operating losses -- even if chapter 11 costs are excluded --
despite having been shut down. Moreover, the Ad Hoc 10% Noteholders
tell the Court that there is no reasonable likelihood of
rehabilitation in these cases specifically since Molycorp Minerals,
including the collateral, has lost value since the petition date,
and that deterioration continues and likewise, the Debtors' plan
itself admits that the Molycorp Minerals is being liquidated, not
rehabilitated.

Finally, the Ad Hoc 10% Noteholders point out that if the Debtors
insist on disqualifying the Ad Hoc 10% Noteholders' credit bid,
conversion would be appropriate to avert improper asset transfers
and interference with secured creditor rights by Molycorp
Minerals’ fiduciaries.

The Ad Hoc Group of Holders of the 10% Senior Secured Notes is
represented by:

     Laura Davis Jones, Esq.
     James E. O’Neill, Esq.
     Colin R. Robinson, Esq.
     PACHULSKI STANG ZIEHL & JONES LLP
     919 N. Market Street, 17th Floor
     P.O. Box 8705
     Wilmington, DE 19899-8705 (Courier 19801)
     Telephone: (302) 652-4100
     Facsimile: (302) 652-4400
     Email: ljones@pszjlaw.com
            jo’neill@pszjlaw.com
            crobinson@pszjlaw.com

     -- and --

     Thomas Moers Mayer, Esq.
     Gregory Horowitz, Esq.
     Joshua K. Brody, Esq.
     Andrew M. Dove, Esq.
     KRAMER LEVIN NAFTALIS & FRANKEL LLP
     1177 Avenue of the Americas
     New York, New York 10036
     Telephone: (212) 715-9100
     Facsimile: (212) 715-8000
     Email: tmayer@kramerlevin.com
            jbrody@kramerlevin.com
            ghorowitz@kramerlevin.com
            adove@kramerlevin.com

         About Molycorp, Inc.

Molycorp Inc. -- http://www.molycorp.com/-- is a global rare
earths and rare metals producer.  Molycorp owns several prominent
are earth processing facilities around the world.  It has a
workforce of 2,530 employees at locations on three continents.
Molycorp's Mountain Pass Rare Earth Facility in San Bernadino
County, California, is home to one of the world's largest and
richest deposits of rare earths.

Molycorp has corporate offices in the United States, Canada and
China.  CEO Geoffrey R. Bedford, and other senior management
members are located in Molycorp's corporate offices in Toronto,
Canada.  Other senior management members are located at its U.S.
corporate headquarters in Greenwood Village, Colorado.

Molycorp reported a net loss of $623 million in 2014, a net loss of
$377 million in 2013 and a net loss of $475 million in 2012.

As of March 31, 2015, the Company had $2.49 billion in total
assets, $1.78 billion in total liabilities and $709 million in
total stockholders' equity.

Molycorp and its North American subsidiaries, together with certain
of its non-operating subsidiaries outside of North America, filed
Chapter 11 voluntary petitions in Delaware (Bankr. D. Del. Lead
Case No. 15-11357) on June 25, 2015, after reaching agreement with
a group of lenders on a financial restructuring. The Chapter 11
cases of Molycorp and 20 affiliated debts are pending before Judge
Christopher S. Sontchi.

The agreement provides for a financial restructuring of the
Company's $1.7 billion in debt and provides up to $225 million in
gross proceeds in new financing to support operations while the
Company completes negotiations with creditors.

The Company's operations outside of North America, with the
exception of non-operating companies in Luxembourg and Barbados,
are excluded from the filings.  Molycorp Rare Metals (Oklahoma),
LLC, with operations in Quapaw, Oklahoma, also is excluded from the
filings as it is not 100% owned by the Company.

Molycorp is being advised by the investment banking firm of Miller
Buckfire & Co. and is receiving financial advice from AlixPartners,
LLP.  Jones Day and Young, Conaway, Stargatt & Taylor LLP act as
legal counsel to the Company in this process. Prime Clerk serves as
claims and noticing agent.

Secured creditor Oaktree Capital Management L.P., consented to the
use of cash collateral and to extend postpetition financing.

On July 8, 2015, the U.S. trustee overseeing the Chapter 11 case of
Molycorp Inc. appointed eight creditors of the company to serve on
the official committee of unsecured creditors.

                                          *     *     *

Judge Christopher Sontchi in Delaware approved the disclosure
statement explaining the Debtors' Plan on Jan. 20, 2015, after the
Debtors revised the Disclosure Statement to incorporate certain
modifications directed by the Court during the Jan. 14 hearing.

The Plan contemplates two possible outcomes: (1) the sale of
substantially all of the Debtors' assets if certain conditions set
forth in the Plan are satisfied and (2) (a) the sale of the assets
associated with the Debtors' Mountain Pass mining facility in San
Bernardino County, California; and (b) the stand-alone
reorganization around the Debtors' other three business units.


MOMENTIVE PERFORMANCE: Moody's Cuts Corp Family Rating to Caa1
--------------------------------------------------------------
Moody's Investors Service, in late January 2016, downgraded
Momentive Performance Materials Inc.'s (Momentive's) corporate
family rating (CFR) to Caa1 from B3, and their probability of
default rating (PDR) to Caa1-PD from B3-PD. Concurrently, Moody has
downgraded the assigned ratings of Momentive's $1.1 billion, at
3.88%, first-lien senior secured notes due 2021; and Momentive's
$250 million, at 4.69%, second-lien senior secured notes due 2022.
The first-lien notes are now rated Caa1, down from B3; and the
second-lien notes are now rated Caa3, down from Caa2. Moody's has
also affirmed Momentive's SGL-3 speculative grade liquidity rating,
meaning the company's liquidity position for the next 12-18 months
is adequate. The outlook on the ratings is stable.

"The change in Momentive's rating to Caa1 from B3 comes following
the company's poor third-quarter 2015 performance, and our
expectation that Momentive's sales and margins will come under
increasing pressure due to weakening end-markets for silicones,
especially in Asia," says Anthony Hill, a Moody's Vice President -
Senior Credit Officer and lead analyst for Momentive.

The changes are:

  Issuer: Momentive Performance Materials Inc.

  --  Corporate Family Rating, downgraded to Caa1 from B3

  --  Probability of Default Rating, downgraded to Caa1-PD from
B3-PD

  -- Senior Secured First Lien Notes, downgraded to Caa1 (LGD3)
from B3 (LGD3)

  -- Senior Secured Second Lien Notes, downgraded to Caa3 (LGD5)
from Caa2 (LGD5)

The affirmations are:

  Issuer: Momentive Performance Materials Inc.

  --  Speculative Grade Liquidity Rating, affirmed at SGL-3

RATINGS RATIONALE

Momentive's Caa1 CFR reflects the company's high financial
leverage, which Moody's now expects will be around 7.6x debt/EBITDA
(on a Moody's-adjusted basis) for the fiscal year ended December
2015 (higher than our previous expectation of 6.6x debt/EBITDA).
Moody's expects that Momentive will continue to have an adequate
liquidity profile over at least the next 18-24 months. However, the
company is almost entirely exposed to a global silicone market that
is highly competitive and is expected to experience a deeper period
of cyclical oversupply, and weak global demand within some
sub-segments -- especially in Asia where Moody's expects lackluster
growth and trade demand through 2017. As evidenced by Momentive's
weak financial results for quarter-end September 2015, some of
these themes have already begun to actualize. For example, the
company's as reported sales and EBITDA for this quarter were down
year-on-year by 11% and 35%, respectively. The company primarily
attributes this decline to (1) global inventory destocking; (2)
strengthening U.S. dollar relative to the euro and Japanese yen;
and (3) slowing economic growth in China. Additionally, relative to
its major competitors, Momentive's backward integration is low.
This lack of backward integration means that the company must
purchase raw materials directly from the open market, presumably,
at a premium relative to its competitors who are more integrated.
In Moody's opinion, this limited business profile, which is
structural and difficult to overcome, will pressure Momentive's
margins over the coming years.

Yet for all of these concerns, Momentive remains a leading global
producer of silicone products, with a track record of maintaining
adequate market share positions across a diverse product portfolio.
Additionally, while Momentive's EBITDA margin is currently around
10% (down from a peak of around 20% in 2010), a significant portion
of the company's product portfolio is able to generate stable,
healthy, EBITDA margins. Furthermore, in November 2015 the company
announced a global restructuring program targeting $25 million in
cost savings in 2016. The rating also acknowledges Momentive's
adequate liquidity profile.

Moody's believes that Momentive's liquidity will cover its
near-term cash requirements. For fiscal year-end December 2015,
Moody's expects the company to exhibit a cash balance of around
$200 million (this based on the rating agency's forecasts). This
cash balance, the company's committed $270 million asset-based
revolving credit facility, and internally generated cash flow will
cover the company's ongoing basic cash needs, such as working
capital and expected capital expenditures.

Using Moody's Loss Given Default (LGD) methodology, the PDR is
equal to the CFR, based on a 50% recovery rate, primarily due to
the covenant-lite structure of the senior secured notes. Moody's
also used this methodology to assign a Caa1 rating to the
first-lien senior secured notes. In Moody's opinion, the level of
US-based collateral backing Momentive's US-issued debt is not
adequate to warrant any upward notching of the ratings of the
first-lien senior secured notes. Additionally, the $1.1 billion
first-lien notes represent more than 70% of the company's debt
capital structure, subordinated only by the $250 million
second-lien notes. As a result, the first-lien notes are also rated
Caa1, at the same as the CFR. The second-lien notes are rated Caa3,
two notches below the CFR, reflecting their subordinated ranking in
Momentive's debt capital structure.

The stable outlook reflects Moody's expectation that Momentive's
credit metrics will remain stable throughout 2016, and begin to
exhibit some modest improvements in 2017.

Moody's would consider upgrading Momentive's ratings if the company
is able to (1) maintain its operating performance; (2) improve its
profitability such that its EBITDA margins are sustainably around
11%; (3) generate a sustained positive retained cash flow/debt
ratio of around 9%; and (3) improve its leverage profile such that
its debt/EBITDA ratio is around 6.0x.

Conversely, Moody's would consider downgrading Momentive's ratings
if the company's liquidity profile and credit metrics deteriorate
as a result of (1) a weakening of its operational performance; or
(2) an aggressive change in its financial policy. Quantitatively,
Moody's would consider downgrading Momentive's ratings if (1) its
debt/EBITDA ratio rises above 8.0x; or (2) its EBITDA margins fall
towards 7%; or (3) its retained cash flow/debt ratio falls towards
4%. All figures are on a Moody's-adjusted basis.

Based in New York, US, Momentive Performance Materials Inc. is one
of the largest global producer of silicones and silicone
derivatives. The company has two divisions, (1) silicones, which
account for approximately 92% of revenues; and (2) quartz.
Silicones, or more accurately polymerized siloxanes or
polysiloxanes, are mixed inorganic-organic polymers that are used
in a wide variety of industrial and consumer applications including
agriculture, automotive, electronics, healthcare, personal care,
textiles and sealants (the most recognizable application is for
bathroom, kitchen and window sealants around the home). Momentive
is approximately 40% owned by funds managed or owned by the private
equity division of Apollo Global Management (unrated). For the last
12 months ending 30 September 2015, Momentive's revenues and
Moody's-adjusted EBITDA were approximately $2.3 billion and $204
million, respectively.


MUSCLEPHARM CORP: CEO Steps Down; Interim CEO and President Named
-----------------------------------------------------------------
MusclePharm Corporation announced Brad Pyatt has resigned from his
position as CEO and will also leave the Company's Board of
Directors.  Executive Chairman Ryan Drexler has been appointed
Interim CEO and president.  The Company has begun a search for a
replacement that will be overseen by the board.

"Brad has been a valuable innovator and contributor to MusclePharm,
both as a member of our board and former chief executive officer,"
said MusclePharm's chairman and interim chief executive officer and
president, Mr. Drexler.  "I would like to thank Brad for his many
years of dedicated service."

Mr. Drexler added, "the Company will continue to execute its growth
and restructuring plans following Brad's departure."

"Brad has left the Company in good hands," Mr. Drexler said.  "The
management team is focused on maximizing shareholder returns and
executing our strategy to make MusclePharm the preeminent brand in
the sports nutrition industry."

"We have accomplished a lot over the last eight years since I
embarked on this journey to build a household name in sports
nutrition.  It has been an amazing ride and I want to personally
thank all of the great people and partners who helped along the way
in the development of this great company," Pyatt said.  "A good
entrepreneur has to know when it's time to hand leadership over,
and I feel it is the right time for me and the Company."

Mr. Drexler, age 45, has served as chairman of the Company's Board
of Directors since Aug. 26, 2015.  He is currently the chief
executive officer of Consac, LLC, a privately held firm that
invests in the securities of publicly traded and venture-stage
companies.  Previously, Mr. Drexler served as president of Country
Life Vitamins, a family owned nutritional supplements and natural
products company he joined in 1993.  In addition to developing
strategic objectives and overseeing acquisitions for Country Life,
Mr. Drexler created new brands that include the BioChem family of
sports and fitness nutrition products.  Mr. Drexler negotiated and
led the process which resulted in the sale of Country Life in 2007
to the Japanese conglomerate Kikkoman Corp.  Mr. Drexler graduated
from Northeastern University, where he earned a BA in political
science.

                       About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm Corporation reported a net loss of $13.8 million in
2014, a net loss of $17.7 million in 2013 and a net loss of $19
million in 2012.

As of Sept. 30, 2015, the Company had $62.2 million in total
assets, $67.8 million in total liabilities and a $5.54 million
total stockholders' deficit.


MUSCLEPHARM CORP: Delays 2015 Form 10-K Filing
----------------------------------------------
MusclePharm Corporation has filed a Notification of Late Filing, or
Form 12b-25, with the Securities and Exchange Commission with
regard to its annual report on Form 10-K for the fiscal year ended
Dec. 31, 2015.

On March 15, 2016, the Company appointed Ryan Drexler, its
executive chairman, as interim chief executive officer and
president, and its former chief executive officer, Brad Pyatt,
ceased to be an employee of the Company.  The filing of the
Company's Annual Report has been delayed due to transition matters
relating to such appointment and resignation.  As a result of this
transition period, the Company was unable to file the Annual Report
in a timely manner without unreasonable effort or expense. The
Company intends to file the Annual Report within the extension
period provided under Rule 12b-25.

                         About MusclePharm

Headquartered in Denver, Colorado, MusclePharm Corporation
(OTC BB: MSLP) -- http://www.muslepharm.com/-- is a healthy life-
style company that develops and manufactures a full line of
National Science Foundation approved nutritional supplements that
are 100 percent free of banned substances.  MusclePharm is sold in
over 120 countries and available in over 5,000 U.S. retail
outlets, including GNC and Vitamin Shoppe.  MusclePharm products
are also sold in over 100 online stores, including
bodybuilding.com, Amazon.com and Vitacost.com.

MusclePharm Corporation reported a net loss of $13.8 million in
2014, a net loss of $17.7 million in 2013 and a net loss of $19
million in 2012.

As of Sept. 30, 2015, the Company had $62.2 million in total
assets, $67.8 million in total liabilities and a $5.54 million
total stockholders' deficit.


NEIMAN MARCUS: S&P Revises Outlook to Negative & Affirms 'B-' CCR
-----------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook on the
Dallas-based The Neiman Marcus Group Inc. to negative from stable.
At the same time, S&P affirmed all ratings, including the 'B-'
corporate credit rating.

"The outlook revision reflects our expectation that operating
performance will remain weak over the next 12 months, resulting in
moderately negative free operating cash flow generation over that
time period," said Standard & Poor's credit analyst Mathew Christy.
"We believe the department store industry's operating environment
will remain soft in 2016, given the heightened industry competition
and softness in retail apparel trends.  We also believe declining
mall-based traffic, along with cautious consumer spending on
small-ticket, highly discretionary items will weigh on Neiman
Marcus' operating results.  As such, S&P expects operating
performance and credit metrics to deteriorate in the next 12
months."

Standard & Poor's would revise the outlook to stable if the company
stabilizes and improves its operations with positive same-store
sales and some margin recovery, driven by an effective
merchandising strategy and increased customer traffic.  This would
result in consistently positive free operating cash flow and
improved credit metrics.


NEWFIELD EXPLORATION: S&P Lowers CCR to 'BB+', Off Neg. CreditWatch
-------------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
ratings on Houston-based Newfield Exploration Co. to 'BB+' from
'BBB-' and removed it from CreditWatch, where S&P placed it with
negative implications on Feb. 2, 2016.  At the same time, S&P
lowered the issue-level rating to 'BB+' from 'BBB-' and assigned a
'3' recovery rating to the company's senior unsecured debt.  A '3'
recovery rating indicates meaningful (higher end of the 50%-70%
range) recovery in the event of a default.  The outlook is stable.

"The downgrade reflects our revised EBITDA and cash flow estimates,
which incorporate Newfield's actual 2015 results, recent equity
issuance, and our assumptions for 2016 and 2017 capital spending
and production," said Standard & Poor's credit analyst Carin
Dehne-Kiley.

Despite the company's recent $802 million equity issuance (gross),
S&P now expects funds from operations (FFO) to debt to remain below
30% over the next two years.  Although Newfield has initiated plans
to potentially sell noncore assets, S&P do not believe the
potential proceeds will be sufficient to bring leverage back to
levels S&P views as appropriate for an investment-grade rating,
given its assessment of Newfield's business risk profile.  The
ratings on Newfield reflect S&P's assessment of the company's
satisfactory business risk profile, significant financial risk
profile, and strong liquidity.

The stable outlook reflects S&P's view that Newfield Exploration's
credit measures will remain appropriate for the rating over the
next two years, with FFO/debt in the 20% to 30% range.

S&P could downgrade the company if it expected FFO/debt to fall and
remain below 20% for a sustained period, which would most likely
occur if capital spending exceeded cash flows (including asset sale
proceeds) by more than S&P's current estimates or if production
were weaker than its projections.

S&P could raise the rating if it expected FFO/debt to improve and
remain above 30% for a sustained period, which would most likely
occur if commodity prices averaged above S&P's current price deck
assumptions, or if the company increased its proved reserves more
in line with higher-rated peers while maintaining appropriate
credit measures.


NORTHWEST PEDIATRIC: Case Summary & 20 Top Unsecured Creditors
--------------------------------------------------------------
Debtor: Northwest Pediatric Services S.C.
           d/b/a Kid Care Medical S.C.
        c/o Kid Care Medical S.C.
        373 Summit St., #101
        Elgin, IL 60120

Case No.: 16-09373

Nature of Business: Health Care

Chapter 11 Petition Date: March 18, 2016

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Hon. Jacqueline P. Cox

Debtor's Counsel: Scott R Clar, Esq.
                  CRANE, HEYMAN, SIMON, WELCH & CLAR
                  135 S Lasalle Suite 3705
                  Chicago, IL 60603
                  Tel: 312 641-6777
                  Fax: 312 641-7114
                  E-mail: sclar@craneheyman.com

Estimated Assets: $100,000 to $500,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Orawan Sukavachana, M.D., president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-09373.pdf


NUO THERAPEUTICS: Files Schedules of Assets and Liabilities
-----------------------------------------------------------
Nuo Therapeutics, Inc., filed with the U.S. Bankruptcy Court for
the District of Delaware its schedules of assets and
liabilities, disclosing:

     Schedule A/B: Assets-Real and Personal Property

          1a. Real property:                                $0.00

          1b. Total personal property:            $180,006,792.92
                                                -----------------
          1c. Total of all property:              $180,006,792.92

     Summary of Liabilities

          Schedule D: Creditors Who Have Claims
            Secured by Property                    $39,525.054.64

          Schedule E/F: Creditors Who Have
            Unsecured Claims

              3a. Total claim amounts of  
                  priority unsecured claims           $386,356.92

              3b. Total amount of claims of
                  nonpriority amount of
                  unsecured claims                  $2,805,556.19
                                                -----------------
          Total liabilities                        $42,716,967.75

A copy of the Schedules is available at no extra charge at:

                       http://is.gd/nqPol4

On March 7, 2016, the Official Committee of Unsecured Creditors
filed with the Court a statement regarding the Debtor's defective
notice of its intent to potentially seek conversion of its Chapter
11 case to one under Chapter 7.  The Debtor said in a notice filed
with the Court on March 7 that alternatively, if the parties cannot
reach agreement on financing, the Debtor will seek conversion of
this case to a case under Chapter 7 of the U.S. Bankruptcy Code.  A
hearing was set for Feb. 29, 2016, at 9:30 a.m. (Prevailing Eastern
Time) to address whether the Debtor has the right to convert the
case.

The Committee said that a motion to convert must be by written
motion filed and served on all creditors, with 21 days' notice of
the hearing.  According to the Committee, the Debtor failed to
comply with the applicable rules of procedure requiring a written
motion and its generic notice of hearing and nebulous statement in
the notice of agenda are procedurally insufficient and should not
be considered by the Court without a written motion.

A Sec. 341 meeting of creditors was held on March 3, 2016, at 2:00
p.m. at the J. Caleb Boggs Federal Building, 844 N. King Street,
2nd Floor, Room 2112, Wilmington, Delaware.

                     About NUO Therapeutics

Nuo Therapeutics, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 16-10192) on Jan. 26, 2016.  The petition
was signed by David E. Jorden as acting chief executive officer and
acting chief financial officer.

Ashby & Geddes, P.A. represents the Debtor as counsel and Epiq
Bankruptcy Solutions, LLC serves as the Debtor's claims, balloting
and noticing agent.  Hon. Mary F. Walrath has been assigned the
case.


NUO THERAPEUTICS: Has Court's Final OK to Pay Critical Vendors
--------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware has entered a final order authorizing Nuo
Therapeutics, Inc., to pay all or a portion of the prepetition
claims of critical vendors in an aggregate amount not to exceed
$650,000.

On Jan. 26, 2016, the Debtor sought the Court's permission to pay
all or a portion of amounts owing to certain trade creditors that
are, the Debtor's business judgment, "critical" to the Debtor's
ability to conduct its business and operations.  To date, the
Debtor has identified 28 Critical Vendors.  The Debtor asked the
Court to allow it to, among other things, pay, in its reasonable
business judgment, the Critical Vendor Claims in an aggregate
amount not to exceed (a) $450,000 on an interim basis and (b)
$650,000 on a final basis.  

Each of the Critical Vendors provides materials, components, or
services that are vital to the Debtor's continued operations and
ability to generate revenue.  The Critical Vendors (i) provide
unique goods or services that are otherwise unavailable; (ii)
provide goods or services that the Debtor is unable to procure
without incurring significant migration costs or compromising
quality; and (iii) do not have long-term written supply contracts
or other relationships with the Debtor such that they could be
compelled to continue providing goods or services to the Debtor
postpetition.

The Debtor recognizes that all or some of the Critical Vendors may
refuse to provide goods or services to the Debtor on a postpetition
basis if the Debtor does not pay all or part of the vendors'
prepetition claims.  The Critical Vendor Claims comprise
approximately 31% of the accounts payable reflected in the Debtor's
books and records.  

On Jan. 28, 2016, the Court entered an interim order allowing the
Debtor to make the payments, in an aggregate amount no to exceed
$450,000, and set a final hearing for Feb. 22, 2016.

Aaron Stulman, Esq., at Ashby & Geddes, P.A., co-counsel to the
Debtor, said in a certification filed on Feb. 19, 2016, that the
Debtor received informal comments from the U.S. Trustee saying that
all of the U.S. Trustee's concerns have been resolved by revisions
to the proposed form of order.  No other responses or objections
with respect to this matter were filed.

                     About NUO Therapeutics

Nuo Therapeutics, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 16-10192) on Jan. 26, 2016.  The petition
was signed by David E. Jorden as acting chief executive officer and
acting chief financial officer.

Ashby & Geddes, P.A. represents the Debtor as counsel and Epiq
Bankruptcy Solutions, LLC serves as the Debtor's claims, balloting
and noticing agent.  Hon. Mary F. Walrath has been assigned the
case.


NUO THERAPEUTICS: Key Employee Incentive, Retention Plans Get OK
----------------------------------------------------------------
The Hon. Mary F. Walrath of the U.S. Bankruptcy Court for the
District of Delaware has entered an order authorizing Nuo
Therapeutics, Inc., to make payments to the participants of the key
employee incentive plan and key employee retention plan.

On Feb. 3, 2016, the Debtor sought bankruptcy court authorization
of its proposed KEIP and KERP.  The total cost of the KEIP is
expected to be between approximately $150,000 and $380,000.  The
total cost of the KERP is expected to be approximately $100,000.
In the aggregate, the KERP represents approximately 6.5% of the
salaries of all KERP Participants.  

Since the Petition Date, the Debtor and its professionals have,
among other things, taken steps to implement a comprehensive sale
process that will permit the Debtor to aggressively market, and
eventually auction, substantially all of its assets.  In
furtherance of the marketing and sale process, and in connection
with the Debtor's efforts to maintain and maximize its going
concern value, the Debtor's Board of Directors approved the KEIP
and KERP to ensure that (i) key personnel are properly incentivized
to obtain the highest price for the Debtor's assets and (ii) key
personal stay with the Debtor through the Chapter 11 sale process.


Through the KEIP, the Debtor seeks to motivate and incentivize
certain key employees whose efforts and expertise are integral to
preserving the Debtor's business, a meaningful continuation of the

Debtor's marketing process and the Debtor's efforts towards a
competitive auction.  The terms of the KEIP provide for potential
performance bonuses that will serve as an important incentive for
the Participants to go beyond their ordinary duties and obligations
and take those important extra steps critical to preserving the
value of the Debtor's business and maximizing the price obtained
for the Debtor's assets.

Under the terms of the KEIP -- a copy of which is available for
free at http://is.gd/k3wgyJ-- the Participants will receive
certain discretionary KEIP payments out of an increasing pool of
funds tied to the total amount of sale consideration.  The amount
of KEIP Payment will be determined, subject to the Debtor's
discretion and reasonable business judgment, based on a number of
conditions and milestones.  

The Debtor believes that the KERP (i) provides much needed comfort
to the Debtor's key employees during this challenging time, and
(ii) helps to ensure that critical employees remain in the Debtor's
employ, which is essential to the Debtor's efforts to maximize the
value of the Debtor's business during the sale process.  

The Debtor conducted multiple rounds of cuts and layoffs before the
Petition Date and as a result, the Debtor maintains a "skeleton"
crew of non-insider employees.  Certain of the remaining employees
have the knowledge, skill, and experience required to ensure that
the Debtor can continue to operate its business.  The failure to
retain any given KERP Participant's services would threaten the
Debtor's ability to operate during this Chapter 11 case and
maximize the value of its estate for the benefit of its various
stakeholders.

To receive a KERP Payment, each participant will be required to
execute a release in the Debtor's favor.  KERP payments are
generally payable upon the satisfaction of the following
conditions: (i) the Debtor closes a sale of substantially all of
its assets in this Chapter 11 case, if the sale takes place
pursuant to a Chapter 11 plan, the effective date of the Plan has
occurred; (ii) the DIP lenders receive a full recovery of the
outstanding DIP loans as of the closing date of the sale; and (iii)
the participant is employed by the Debtor at the time that
conditions (i) and (ii) are satisfied.  A copy of the KERP's terms
is available for free at http://is.gd/ds1V1C

To identify the KEIP and KERP Participants, the Board evaluated the
Debtor's business and the tasks that need to be completed in
connection with the Chapter 11 case.  The Board further evaluated,
among other things, the KEIP and KERP Participants' unique or
significant knowledge of the Debtor's infrastructure and business
and unique skills or experiences and whether same would be crucial
to the Debtor's Chapter 11 sale process.  Further, the Board and
the Debtor's CRO are reviewing and analyzing the Debtor's
operational and financial needs on a continuing basis.

                     About NUO Therapeutics

Nuo Therapeutics, Inc., filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 16-10192) on Jan. 26, 2016.  The petition
was signed by David E. Jorden as acting chief executive officer and
acting chief financial officer.

Ashby & Geddes, P.A. represents the Debtor as counsel and Epiq
Bankruptcy Solutions, LLC serves as the Debtor's claims, balloting
and noticing agent.  Hon. Mary F. Walrath has been assigned the
case.


NUO THERAPEUTICS: Proposes April 25 Plan, Outline Hearing
---------------------------------------------------------
Nuo Therapeutics, Inc., ask the U.S. Bankruptcy Court for the
District of Delaware to conduct a combined hearing on the approval
of the disclosure statement and on the confirmation of a plan of
reorganization on April 25, 2016, at 10:30 a.m. (Eastern Time).

The Debtor proposes the following plan confirmation schedule:

   Hearing on the Solicitation Motion          March 28, 2016
   Deadline to Mail Solicitation Packages
       and Cure Notices                        March 31, 2016
   Voting Record Date                          March 22, 2016
   Deadline to File Plan Supplement            April 15, 2016
   Voting Deadline                             April 20, 2016
   Deadline for holders of Claims and
      Interests in Impaired Classes to:
      (1) File Claims Estimation Motions;
      and (2) Object to the Disclosure
      Statement and/or Plan                    April 20, 2016
   Deadline to Object to Assumption of
      Designated Contracts                     April 20, 2016
   Deadline for Objections to Claims
      Estimation Motions                       April 23, 2016
   Deadline for Debtor's Responses to:
      (1) Plan and Disclosure Statement
      Objections; and (2) Assumption
      Objections                               April 23, 2016
   Deadline for Debtor to file: (1) Voting
      Certification; and (2) Confirmation
      Brief                                    April 23, 2016
   Combined Hearing                            April 25, 2016

Under the Plan, the Debtor will seek to raise not less than
$10,500,000 in funding, of which $3,000,000 may be in the form of
backstop irrevocable capital call commitments from creditworthy
obligors in the reasonable judgment of the Lenders.  Under a
Successful Capital Raise, general unsecured creditors will recover
95-100% of their allowed claims.  If the Debtor is unable to
achieve a Successful Capital Raise, general unsecured creditors
will still receive $2 million, which will provide allowed holders
of general unsecured claims with a substantial -- if not full --
recovery, and existing holders of equity who vote in favor of the
Plan will provide a release with a right to receive a pro rata
share of a 5% pool of new shares of common stock.



A full-text copy of the Disclosure Statement dated March 18, 2016,
is available at http://bankrupt.com/misc/NUOds0318.pdf

The Debtor is represented by William P. Bowden, Esq., Karen B.
Skomorucha Owens, Esq., and Stacy L. Newman, Esq., at Ashby &
Geddes, P.A., in Wilmington, Delaware; Sam J. Alberts, Esq., at
Dentons US LLP, in Washington, D.C.; and Bryan E. Bates, Esq., at
Dentons US LLP, in Atlanta, Georgia.

                     About NUO Therapeutics

Nuo Therapeutics, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 16-10192) on Jan. 26, 2016.  The petition
was signed by David E. Jorden as acting chief executive officer and
acting chief financial officer.

Ashby & Geddes, P.A. represents the Debtor as counsel and Epiq
Bankruptcy Solutions, LLC serves as the Debtor's claims, balloting
and noticing agent.  Hon. Mary F. Walrath has been assigned the
case.

The U.S. Trustee for Region 2 originally appointed three members to
the Official Committee of Unsecured Creditors.  The U.S. Trustee,
on March 14, 2016, said New Hampshire Ball Bearings, Inc., has
resigned from the Committee.  The remaining committee members are
AAPC and CPA Global Limited.


NUO THERAPEUTICS: Unsecureds to Get 95% to 100% Under Ch. 11 Plan
-----------------------------------------------------------------
Nuo Therapeutics, Inc., filed with the U.S. Bankruptcy Court for
the District of Delaware a plan of reorganization and accompanying
disclosure statement, under which holders of general unsecured
claims are estimated to recover 95% to 100% of their allowed
claims.

The Plan incorporates the terms of a settlement among the Debtor,
the senior secured lenders (Deerfield Private Design Fund II, L.P.,
Deerfield Private Design International II, L.P. and Deerfield
Special Situations Fund, L.P., the Official Committee of Unsecured
Creditors, as well as the Ad Hoc Committee of Equity Holders.

Generally, the Plan contemplates that, prior to the Effective Date,
the Debtor will seek to raise not less than $10,500,000 in funding,
of which $3,000,000 may be in the form of backstop irrevocable
capital call commitments from creditworthy obligors in the
reasonable judgment of the Lenders, through a private placement of
common stock of the Reorganized Debtor (in such amount raised will
be available, along with proceeds of the DIP Loan Agreement
(consistent with the Budget), to pay in full all amounts owing by
the Debtor under the Plan.

If the Debtor is unable to achieve a Successful Capital Raise (in
such event, an Unsuccessful Capital Raise), then the Plan
contemplates alternative treatment of certain Claims and Equity
Interests.  In the absence of a Successful Capital Raise, general
unsecured creditors will still receive $2 million, which will
provide allowed holders of general unsecured claims with a
substantial -- if not full -- recovery, and existing holders of
equity who vote in favor of the Plan will provide a release with a
right to receive a pro rata share of a 5% pool of new shares of
common stock.

A full-text copy of the Disclosure Statement dated March 18, 2016,
is available at http://bankrupt.com/misc/NUOds0318.pdf

The Debtor is represented by:

         William P. Bowden, Esq.
         Karen B. Skomorucha Owens, Esq.
         Stacy L. Newman, Esq.
         ASHBY & GEDDES, P.A.
         500 Delaware Avenue, P.O. Box 1150
         Wilmington, DE 19899-1150
         Phone: 302.654.1888
         Fax: 302.654.2067
         Email: wbowden@ashby-geddes.com
                kowens@ashby-geddes.com
                snewman@ashby-geddes.com

            -- and --

         Sam J. Alberts, Esq.
         DENTONS US LLP
         1301 K Street, NW
         Suite 600, East Tower
         Washington, D.C. 20005
         Tel: 202.408.7004
         Fax: 202.408.6399
         Email: sam.alberts@dentons.com

            -- and --

         Bryan E. Bates, Esq.
         DENTONS US LLP
         303 Peachtree Street, NE
         Suite 5300
         Atlanta, GA 30308
         Tel: 404.527.4073
         Fax: 404.527.4198
         Email: bryan.bates@dentons.com

                     About NUO Therapeutics

Nuo Therapeutics, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 16-10192) on Jan. 26, 2016.  The petition
was signed by David E. Jorden as acting chief executive officer and
acting chief financial officer.

Ashby & Geddes, P.A. represents the Debtor as counsel and Epiq
Bankruptcy Solutions, LLC serves as the Debtor's claims, balloting
and noticing agent.  Hon. Mary F. Walrath has been assigned the
case.

The U.S. Trustee for Region 2 originally appointed three members to
the Official Committee of Unsecured Creditors.  The U.S. Trustee,
on March 14, 2016, said New Hampshire Ball Bearings, Inc., has
resigned from the Committee.  The remaining committee members are
AAPC and CPA Global Limited.


NUVERRA ENVIRONMENTAL: S&P Lowers Corp. Credit Rating to 'SD'
-------------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on Scottsdale, Arizona-based Nuverra Environmental Solutions
Inc. to 'SD' (selective default) from 'CCC-'. Additionally, S&P
lowered the issue-level rating on the company's senior notes due
2018 to 'D' from 'CCC-'.

"The downgrade follows Nuverra's announcement that the company has
offered to exchange any and all of its existing senior notes due
2018 for new second-lien notes due 2021, and our belief that the
offer will be accepted by the majority of noteholders," said
Standard & Poor's credit analyst David Lagasse.  "While the company
is offering the exchange at par value plus common stock, the new
2021 notes will have a longer dated maturity and a percentage of
interest will be paid in kind.  We view this transaction as a
selective default," he added.

S&P expects to review the corporate credit rating and issue-level
rating after the transaction closes.  S&P's analysis will
incorporate the challenging environment for oil and gas service
companies, Nuverra's capital structure, and S&P's assessment of the
company's liquidity position in 2016 and 2017.



ON SEMICONDUCTOR: Upsized Debt No Impact on Moody's 'Ba2' CFR
-------------------------------------------------------------
Moody's Investors Service reports that ON Semiconductor Corp.'s
ratings -- Ba2 Corporate Family Rating ("CFR"), Ba1 Senior Secured
First Lien Credit Facilities (Revolver and Term Loan B) ("Credit
Facilities") rating, SGL-2 liquidity rating -- are unchanged
following ON Semi's announced upsizing of the Credit Facilities.
Moody's has withdrawn the previously-assigned Ba3 rating of the
planned Senior Notes, since this debt was not issued. ON Semi's
stable outlook is also unchanged.

ON Semi will use the proceeds of the Term Loan B, a partial drawing
under the Revolver, and existing balance sheet cash, to purchase
Fairchild Semiconductor International, Inc. ("Fairchild"),
refinance Fairchild's debt, and to pay transaction fees.

All of the ratings are contingent on the closing of ON Semi's
acquisition of Fairchild. If ON Semi fails to complete the
acquisition, Moody's expects to withdraw all of ON Semi's ratings.

RATINGS RATIONALE

The Ba2 CFR reflects ON Semi's starting leverage proforma for the
acquisition of Fairchild, which at nearly 5x debt to EBITDA
(Moody's adjusted, proforma 12 months ended December 31, 2015
excluding anticipated synergies) is high both for the Ba2 rating
and given the significant execution risks entailed in integrating
Fairchild. The integration execution risk is significant, since the
acquisition will increase ON Semi's revenue base by over 35% and
will add over 6,000 employees, three wafer fabrication facilities,
and two testing facilities.

Moreover, both ON Semi and Fairchild are exposed to the cyclical
semiconductor industry broadly, and to specific end markets such as
the automotive market, which is highly-cyclical, and the mobile
phone market, which is subject to very short product life cycles,
requiring ongoing research and development to obtain share in new
customer platforms. Although we believe that ON Semi may hold
leadership positions in certain automotive semiconductor niches, ON
Semi's overall automotive market share is modest relative to other
automotive semiconductor suppliers, such as STMicroelectronics
(Ba1/stable) and NXP BV (Ba1/stable).

"Still, we believe that the acquisition will lift ON Semi to the
second largest market share in the Power semiconductor segment
behind industry leader Infineon and will also increase the breadth
of both ON Semi's power semiconductor portfolio and its analog
portfolio. Moreover, ON Semi's increasing exposure to relatively
high growth, high margin analog end markets (automotive,
industrial, mobility), along with an anticipated $150 million in
annual operating synergies, should produce an increasing EBITDA
margin. We expect increasing free cash flow ("FCF"), reflecting the
modest capital expenditure requirements relative to cash from
operations ("CFO"), as ON Semi outsources a portion of its
manufacturing and as an analog semiconductor manufacturer,
production does not require advanced process technology. ON Semi is
benefitting from positive secular trends driving increasing
semiconductor content per unit (automobile, phone, industrial
machinery) in each of these end markets. Moreover, the broad
product base limits customer and product platform concentration
risk, which limits revenue volatility."

"We expect ON Semi to follow a conservative financial policy,
reducing debt such that debt to EBITDA (Moody's adjusted) is on
pace to decline toward 3.5x over the next two years, which is a
level more appropriate for the Ba2 rating."

The Credit Facilities are rated Ba1, one notch higher than the CFR,
due to the collateral and the cushion of unsecured liabilities
including unsecured convertible notes.

"The liquidity rating of SGL-2 reflects ON Semi's very good
liquidity, benefitting from strong FCF, which we expect to exceed
$250 million over the next year, a cash balance of over $250
million, and the Revolver, which we expect will remain largely
undrawn."

"The stable outlook reflects our expectation that EBITDA will
increase with revenue growth and an improving EBITDA margin as ON
Semi begins to capture operating synergies and due to an improving
product mix due to growth in higher margin end markets such as
automotive. We expect that this increasing EBITDA will produce
increasing FCF, a large portion of which ON Semi will use for debt
repayment such that debt to EBITDA (Moody's adjusted) will decline
to below 4x over the next year."

"The ratings could be upgraded if ON Semi successfully integrates
Fairchild without material operational disruption and shows
evidence that they are well on-course to achieve the anticipated
$150 million in cost synergies. We would expect the EBITDA margin
(Moody's adjusted) to improve to at least the low twenties percent
level. We would also expect ON Semi to follow a conservative
financial policy, with debt to EBITDA (Moody's adjusted) maintained
at or below 3x."

"The ratings could be downgraded if EBITDA margins decline toward
the mid teens percent level (Moody's adjusted) or if we believe
that debt to EBITDA (Moody's adjusted) will be sustained above
4x."

ON Semiconductor Corp., based in Phoenix, Arizona, manufactures a
broad array of discrete and integrated circuit analog,
mixed-signal, and logic semiconductors, serving the automotive,
industrial, mobile telephony, and consumer electronics markets.


OSAGE EXPLORATION: Gets Court OK to Hire Crowe & Dunlevy
--------------------------------------------------------
Osage Exploration and Development Inc. received court approval to
hire Oklahoma-based Crowe & Dunlevy.

The order, issued by U.S. Bankruptcy Judge Sarah Hall, allowed the
company to hire the firm as its general bankruptcy and litigation
counsel.

Mark Craige, a shareholder and director at Crowe & Dunlevy, will
serve as lead counsel for the company.  Four other Crowe & Dunlevy
attorneys will assist him, according to court filings.

The billing rates of the Crowe & Dunlevy attorneys who will
represent the company range from $230 to $410 per hour.  Mr.
Craige's current hourly rate is $410.

Crowe & Dunlevy does not hold or represent any interest adverse to
the company, and is a "disinterested person" under section 101(14)
of the Bankruptcy Code, Mr. Craige disclosed in an affidavit.

                    About Osage Exploration

Based in San Diego, California with production offices in Oklahoma
City, Oklahoma, and executive offices in Bogota, Colombia, Osage
Exploration and Development, Inc. (OTC BB: OEDV) --
http://www.osageexploration.com/-- is an independent exploration
and production company with interests in oil and gas wells and
prospects in the US and Colombia.

Osage Exploration filed a Chapter 11 petition (Bankr. W.D. Okla.
Case No. 16-10308) on Feb. 3, 2016, to pursue a sale of
substantially all assets.  

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


OUTER HARBOR: Proposes Ritchie Bros. to Auction Equipment
---------------------------------------------------------
Outer Harbor Terminal, LLC, asks the U.S. Bankruptcy Court for the
District of Delaware to authorize the auction sale of certain
equipment and miscellaneous property at public auction, and to
enter into an auction contract with Ritchie Bros. Auctioneers
(America) Inc.

The Debtor relates that its principal owned assets consist of (i)
larger equipment, machinery and vehicles used in the Debtor's
day-to-day terminal operations, such as forklifts, trucks, and
trailers ("Major Equipment") and (ii) various miscellaneous or
smaller assets that the Debtor uses from time to time, such as shop
tools, spare parts, empty cargo containers and IT equipment
(Miscellaneous Property").  In connection with the ongoing wind
down of its operations, the Debtor intends to sell or otherwise
dispose of the Equipment once such assets are no longer necessary
to the Debtor's operations.  The Debtor contends that by monetizing
the Equipment, the it can enhance recoveries to the Debtor's
creditors and fund administrative expenses associated with the
chapter 11 case.

The Debtor believes that there is likely a relatively limited
universe of potential purchasers of such assets, given the nature
of the Equipment.  The Debtor relates that pursuant to the
settlement agreement between the Debtor and the Port of Oakland,
the it intends to surrender the terminal space to the Port on or
before April 29, 2016, and thus needs to consummate the wind down
of operations and dispose of the Equipment as expeditiously as
possible.  The Debtor asserts that in light of these circumstances,
it does not have sufficient time to individually market or sell the
various pieces of Equipment and that it would be very cost
prohibitive if the Debtor were to seek separate court approval for
individual dispositions of Equipment.

The Debtor tells the Court that the most cost-effective means of
selling the Equipment and generating value for the Debtor's estate
would be through public auctions of the Equipment conducted by an
auctioneer that specializes in the sale of industrial equipment.
The Debtor further tells the Court that it solicited bids from
multiple auctioneers and received proposals from three different
companies.  The Debtor adds that it ultimately selected Ritchie
Bros., a nationally recognized leader in conducting auctions of
industrial equipment to serve as auctioneer for the Equipment.

Ritchie Bros. would receive a commission equal to 9.75% of the
gross proceeds from the sale of the Equipment, with a minimum
commission of $100 per lot, as compensation for its services.  The
Debtor further tells the Court that the net auction proceeds will
be payable into a segregated account maintained by the Debtor by no
later than 14 days of the conclusion of the auction ("Sale
Funds").

The Sale Funds will be released to the Debtor upon the earlier of
(a) the applicable purchaser's removal of the Equipment from
Owner's premises and (b) May 31, 2016.

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.


OUTER HARBOR: Schedules $103M in Assets, $370M in Debt
------------------------------------------------------
Outer Harbor Terminal, LLC disclosed $103,087,806 in assets and
$369,507,443 in debts in its schedules of assets and liabilities:

   Name of Schedule                   Assets       Liabilities
   ----------------                   ------       -----------
A. Real Property                          $0                       
   
B. Personal Property           $103,087,806           
C. Property Claimed as Exempt
D. Creditors Holding
   Secured Claims                                  $17,864,370
E. Creditors Holding Unsecured
   Priority Claims                                          $0
F. Creditors Holding Unsecured
   Non-priority Claims                            $351,643,072
                                 -----------      ------------
TOTAL                           $103,087,806      $369,507,443

A copy of the company's schedules is available without charge at
http://is.gd/V0NpO4

                        About Outer Harbor

Oakland, California-based port operator Outer Harbor Terminal, LLC
filed for Chapter 11 protection (Bankr. D. Del. Case No. 16-10283)
on Feb. 1, 2016.

The Hon. Laurie Selber Silverstein presides over the case. Milbank,
Tweed, Hadley & Mccloy LLP is the Debtor's general counsel.  Mark
D. Collins, Esq., at Richards, Layton & Finger, P.A., serves as its
Delaware counsel.

The Debtor estimated assets and debts at $100 million to $500
million.  The petition was signed by Heather Stack, chief financial
officer.


PARAGON OFFSHORE: Hires Richards Layton as Co-counsel
-----------------------------------------------------
Paragon Offshore PLC and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ Richards, Layton & Finger, P.A. as co-counsel, nunc pro tunc
to the February 14, 2016 petition date.

The Debtors request the employment and retention of Richards Layton
to render professional services, including, but not limited to:

   (a) advising the Debtors of their rights, powers and duties as
       debtors and debtors in possession under chapter 11 of the
       Bankruptcy Code;

   (b) taking action to protect and preserve the Debtors' estates,

       including the prosecution of actions on the Debtors'
       behalf, the defense of actions commenced against the
       Debtors in these chapter 11 cases, the negotiation of
       disputes in which the Debtors are involved and the
       preparation of objections to claims filed against the
       Debtors;

   (c) assisting in preparing on behalf of the Debtors all
       motions, applications, answers, orders, reports and papers
       in connection with the administration of the Debtors'
       estates;

   (d) prosecuting on behalf of the Debtors the proposed plan and
       seeking approval of all transactions contemplated therein
       and in any amendments thereto;

   (e) performing other necessary or desirable legal services in
       connection with these chapter 11 cases; and

   (f) in addition to those services set forth in paragraphs 6(a)
       through 6(e), Richards Layton may perform all other
       services assigned by the Debtors, in consultation with
       Weil, Gotshal & Manges LLP, to Richards Layton as co-
       counsel to the Debtors. To the extent Richards Layton
       determines that such services fall outside of the scope of
       services historically or generally performed by Richards
       Layton as co-counsel in a bankruptcy case, Richards Layton
       will file a supplemental declaration.

Richards Layton will be paid at these hourly rates:

       Mark D. Collins           $850
       Paul N. Heath             $675
       Amanda R. Steele          $465
       Joseph C. Barsalona II    $360
       Barbara J. Witters        $240
       Partners                  $610-$850
       Counsel                   $535-$550
       Associates                $295-$510
       Paraprofessionals         $240

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

Prior to the Petition Date, the Debtors paid Richards Layton a
total retainer of $225,000 in connection with and in contemplation
of these chapter 11 cases.

Mark D. Collins, director of Richards Layton, 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.

The Bankruptcy Court will hold a hearing on the application on
April 6, 2016, at 10:00 a.m.  Objections, if any, are due March 28,
2016, at 4:00 p.m.

Richards Layton be reached at:

       Mark D. Collins, Esq.
       RICHARDS, LAYTON & FINGER, P.A.
       One Rodney Square
       920 North King Street
       Wilmington, DE 19801
       Tel: (302) 651-7700
       Fax: (302) 651-7701

                       About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a  
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the over-
the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-
10410) on Feb. 14, 2016, after reaching a deal with lenders on a
reorganization plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total
debts of $2.96 billion as of Sept. 30, 2015.

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.


PARAGON OFFSHORE: Taps Norton Rose as Special Compliance Counsel
----------------------------------------------------------------
Paragon Offshore PLC and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ Norton Rose Fulbright US LLP as special compliance and
investigations counsel, nunc pro tunc to the February 14, 2016
petition date.

As special compliance and investigations counsel, Norton Rose will
provide the Debtors with legal services in several areas,
including:

   (a) assisting the Debtors on an "as needed" basis with respect
       to any compliance issues that may arise in connection with
       the Foreign Corrupt Practices Act, export controls,
       international trade issues, or any potential breaches of
       the Debtors' policies or procedures or applicable law;

   (b) conducting due diligence, if needed, on various third
       parties with whom the Debtors may need to conduct
       business; and

   (c) acting as compliance and investigatory counsel for the
       Debtors with respect to the investigation by the Debtor's
       Board of Directors of one of the Debtors' historical
       commercial agents in Brazil.

Norton Rose will be paid at these hourly rates:

       Richard C. Smith           $855
       Marsha Gerber              $765
       Christina K. Lunders       $585
       John J. Byron              $468
       Ryan E. Meltzer            $324
       Partners                   $500-$1,075
       Senior Associates          $360-$835
       Senior Counsel             $460-$940
       Counsel                    $190-$810
       Associates                 $220-$695
       Paralegals                 $100-$460
       Senior Paralegals          $200-$395

Additionally, attorneys from Norton Rose Fulbright Consultores em
Direito Estrangeiro in Rio de Janeiro, Brazil may also assist,
including Richard Sobkiewicz, who is charged at a rate of US
$324 per hour.

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

Richard C. Smith, partner of Norton Rose, 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.

Consistent with the United States Trustees' Appendix B - 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, which became effective on November 1, 2013,
Norton Rose stated:

   -- Norton Rose has not agreed to a variation of its standard or

      customary billing arrangements for the Chapter 11 Cases or
      for its services as Special Counsel other than providing the

      Debtors a 10% discount on all hourly rates;

   -- None of the Firm's professionals included in the Chapter 11
      Cases or as Special Counsel have varied their rate based on
      the geographic location of the Chapter 11 Cases;

   -- Norton Rose was retained by the Debtors to assist with
      various compliance and investigatory matters since 2014.
      Except for periodic rate adjustments, the billing rates and
      material terms of the prepetition engagement are the same
      as the rates and terms described in the Application; and

   -- the Debtors will be approving a prospective budget and
      staffing plan for Norton Rose's engagement for the post-
      petition period as appropriate. The budget may be amended as

      necessary to reflect changed or unanticipated developments.

The Bankruptcy Court will hold a hearing on the application on
April 6, 2016, at 10:00 a.m.  Objections, if any, are due March 29,
2016, at 4:00 p.m.

Norton Rose can be reached at:

       Richard C. Smith
       NORTON ROSE FULBRIGHT US LLP  
       799 9th Street NW, Suite 1000
       Washington, D.C. 20001
       Tel: (202) 662-4795
       Fax: (202) 662-4643
       E-mail: richard.smith@nortonrosefulbright.com

                       About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a  
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the over-
the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-
10410) on Feb. 14, 2016, after reaching a deal with lenders on a
reorganization plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total
debts of $2.96 billion as of Sept. 30, 2015.

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.


PARAGON OFFSHORE: Wants AlixPartners as Restructuring Advisor
-------------------------------------------------------------
Paragon Offshore PLC and its debtor-affiliates seek authorization
from the U.S. Bankruptcy Court for the District of Delaware to
employ AlixPartners, LLP as restructuring advisor, nunc pro tunc to
the February 14, 2016 petition date.

The Debtors require AlixPartners to:

   (a) assist in preparing for and filing chapter 11 petitions and

       motions for first-day relief;

   (b) coordinate and provide administrative support for the
       Debtors' chapter 11 cases and the Debtors' plan of
       reorganization;

   (c) assist with the preparation of the statement of affairs,
       schedules and other regular reports required by the Court;

   (d) assist in obtaining and presenting information required by
       parties in interest in the Debtors' chapter 11 cases,
       including official committees appointed by the Court and
       the Court itself;

   (e) provide assistance in such areas as testimony before the
       Court on matters that are within the scope of this
       engagement and within AlixPartners' area of testimonial
       competencies;

   (f) assist the Debtors in developing a short-term cash flow    
       forecasting tool and related methodologies and assisting
       with planning for alternatives, as requested by the
       Debtors;

   (g) provide assistance as requested by management in connection

       with the Debtors' development of its business plan, and
       such other related forecasts as may be required by the
       stakeholders in connection with negotiations or by
       the Debtors for other corporate purposes;

   (h) assist the "working group" professionals who are
       representing the Debtors in the reorganization process or
       who are working for the Debtors' various stakeholders to
       coordinate their effort and individual work product in
       order to be to be consistent with the Debtors' overall
       restructuring goals;

   (i) assist as requested in managing any litigation that may be
       brought against the Debtors in this Court;

   (j) assist in communications and/or negotiations with outside
       constituents; and

   (k) assist with such other matters as may be requested that
       fall within AlixPartners' expertise and that are mutually
       agreeable.

AlixPartners will be paid at these hourly rates:

     James Mesterharm, Managing Director $1,070
     Tom Osmun, Managing Director        $1,015
     Barry Folse, Managing Director      $1,015
     Emily Harte, Director               $720
     Jim Swindell, Vice President        $635
     Jennifer McConnell, Vice President  $530
     Alexandra DeArmond, Analyst         $345
     Managing Director                   $960–$1,095
     Director                            $720-$880
     Vice President                      $530-$635
     Associate                           $365-$470
     Analyst                             $315-$345
     Paraprofessional                    $240-$260

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

AlixPartners and the Debtors have agreed that AlixPartners will
provide a credit in the amount of $250,000, which will be applied
against the first five months' invoices, in the amount of $50,000
per invoice. AlixPartners applied shares of the $250,000 credit to
pre-petition invoices issued for the periods of January 11, 2016
through January 31, 2016 and February 1, 2016 through February
14, 2016. The amounts of credit applied to the January and February
invoices were proportionate to the timeframe covered by each
invoice, and the balance of the credit is currently $193,000.

James A. Mesterharm, managing director of AlixPartners, 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.

The Bankruptcy Court will hold a hearing on the application on
April 6, 2016, at 10:00 a.m.  Objections, if any, are due March 28,
2016, at 4:00 p.m.

AlixPartners be reached at:

       James A. Mesterharm
       ALIXPARTNERS, LLP
       2000 Town Center, Suite 2400
       Southfield, MI 48075
       Tel: +1 (312) 551-3265
       E-mail: jmesterharm@alixpartners.com

                       About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a  
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the over-
the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-
10410) on Feb. 14, 2016, after reaching a deal with lenders on a
reorganization plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total
debts of $2.96 billion as of Sept. 30, 2015.

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.



PARALLEL ENERGY: UST Objects to Releases in Dismissal Motion
------------------------------------------------------------
Andrew R. Vara, Acting United States Trustee for Region Three,
submitted a limited objection to the motion filed by Debtors
Parallel Energy LP, et al.,  with the U.S. Bankruptcy Court for the
District of Delaware, which sought authorization for the  dismissal
their bankruptcy cases under certification of counsel.

The U.S. Trustee tells the Court that he does not oppose a
straightforward dismissal of the cases following the payment of
administrative expenses as part of a wind-down process.  He further
tells the Court that the Debtors' Dismissal Procedure Motion sought
extraordinary and impermissible relief, including a bankruptcy
discharge and non-consensual releases for a multitude of persons,
but provides general unsecured creditors no benefit whatsoever.  
Mr. Vara contends that the procedures significantly erode the due
process rights of holders of administrative expense claims.  He
further contends that the Debtors should conduct an orderly
wind-down of the estate funded by the wind-down escrow, at which
time a straightforward dismissal order can be entered.

The United States, on behalf of the Environment Protection Agency
and Department of Interior, joins in the United States Trustee's
Limited Objection.  The United States objects to any release of
non-Debtors' liability, and any discharge of Debtors' liability
given that Debtors are liquidating.

Andrew R. Vara, Acting United States Trustee for Region 3, is
represented by:

          Linda J. Casey, Esq.
          J. Caleb Boggs Federal Building
          844 King Street, Suite 2207, Lockbox 35
          Wilmington, DE 19801
          Telephone: (302)573-6491
          Facsimile: (302)573-6497

The United States, on behalf of the Environmental Protection Agency
and Department of Interior, is represented by:

          Alan S. Tenenbaum, Esq.
          U.S. DEPARTMENT OF JUSTICE
          P.O. BOX 7611, Ben Franklin Station
          Washington, DC 20044

                 - and -

          Charles M. Oberly, Esq.
          Ellen Slights, Esq.
          OFFICE OF THE UNITED STATES ATTORNEY
          1007 Orange Street
          Suite 700
          P.O. Box 2046
          Wilmington, DE 19899-2046

                       About Parallel Energy

Tulsa, Oklahoma-based natural gas producer Parallel Energy LP
formerly known as Parallel Energy Acquisitions LP, and Parallel
Energy GP LLC filed for Chapter 11 protection (Bankr. D. Del Case
Nos. 15-12263 and 15-12264) on Nov. 9, 2015.  The petition was
signed by Richard N. Miller, chief financial officer.

The Hon. Kevin Gross presides over the case.  Demetra L. Liggins,
Esq., and David M. Bennett, Esq., at Thompson & Knight LLP and
GianClaudio Finizio, Esq., at Bayard, P.A., represent the Debtor
as co-counsel.  Alvarez & Marsal North America, LLC serves as
financial advisor.  Prime Clerk LLC serves as notice, claims,
solicitation and balloting agent.  The Debtor estimated assets and
debts at $100 million to $500 million.


PEABODY ENERGY: Had $1.99B Loss in 2015, Expects More Losses
------------------------------------------------------------
Peabody Energy Corporation filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss
attributable to common stockholders of $1.99 billion on $5.60
billion of total revenues for the year ended Dec. 31, 2015,
compared to a net loss attributable to common stockholders of $787
million on $6.79 billion of total revenues for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, Peabody had $11.02 billion in total assets,
$10.10 billion in total liabilities and $918.5 million in total
stockholders' equity.

As of Dec. 31, 2015, the Company's available liquidity was $1.2
billion, which was substantially comprised of $940 million
available for borrowing under a $1.65 billion revolving credit
facility and $261.3 million of cash and cash equivalents.  During
February 2016, the Company borrowed the maximum amount available
under the 2013 Revolver for general corporate purposes.  As of
March 11, 2016, the Company's available liquidity declined to $0.9
billion, which consisted primarily of cash and cash equivalents.

The Company incurred a substantial loss from operations and had
negative cash flows from operating activities for the year ended
Dec. 31, 2015.  The Company's current operating plan indicates that
it will continue to incur losses from operations and generate
negative cash flows from operating activities.  These projections
and certain liquidity risks raise substantial doubt about whether
the Company will meet its obligations as they become due within one
year after the date of this report.

The Company also elected to exercise the 30-day grace period with
respect to a $21.1 million semi-annual interest payment due
March 15, 2016, on its 6.50% Senior Notes due September 2020 and a
$50.0 million semi-annual interest payment due March 15, 2016, on
its 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 the Notes, but
would become an event of default if the payment is not made within
30 days of such date.  The Company said that 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 the Company
will be able to continue as a going concern.

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 Company incurred a substantial
loss from operations and had negative cash flows from operating
activities for the year ended Dec. 31, 2015.  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, the auditors said.

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

                      http://is.gd/WnFS71

                      About Peabody Energy

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.   The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.
(listed alphabetically).

                        *     *     *
                
As reported by the Troubled Company Reporter on Jan. 20, 2016,
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on St. Louis-based Peabody Energy Corp. to 'CCC+'
from 'B'.


PEABODY ENERGY: Warns of Possible Bankruptcy Filing
---------------------------------------------------
Peabody Energy Corporation warned that it might have to file for
bankruptcy protection as it struggles to keep up with its debt
payments, various news agencies reported.

Michael Corkery, writing for The New York Times' DealBook, reported
that in a securities filing, Peabody said waning demand for coal
around the world and stiffer regulations had raised "substantial
doubt" about whether the company could continue to operate outside
bankruptcy.

John W. Miller and Austen Hufford, writing for Dow Jones' Daily
Bankruptcy Review, said a Chapter 11 filing by Peabody, which
operates 26 mines in the U.S. and Australia, would be the latest in
a wave of bankruptcies to hit top American coal producers,
including Arch Coal Inc., Alpha Natural Resources, Inc., Patriot
Coal Corp. and Walter Energy, Inc., as they wrestle with low energy
prices, new regulations, and the conversion of coal-fired power
plants to natural gas.

Tim Loh, Jodi Xu Klein and Sridhar Natarajan, writing for Bloomberg
Brief, said the company in recent months has struggled to close the
sale of three coal mines in the western U.S. to Bowie Resource
Partners and to renegotiate payment terms with its creditors.

The company elected to skip the semiannual coupons due March 15 on
$1 billion of 10 percent second-lien notes maturing in March 2022
and $650 million of 6.5 percent unsecured bonds coming due in
September 2020, the Bloomberg report said, citing the company's
regulatory filing.  It has a 30- day grace period to make the
payment.

                      About Peabody Energy

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.   The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount
Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.
(listed alphabetically).

The Company reported a net loss attributable to common
stockholders
of $787 million in 2014, a net loss attributable to common
stockholders of $524.9 million in 2013 and a net loss attributable
to common stockholders of $585.7 million in 2012.

                        *     *     *
                
As reported by the Troubled Company Reporter on Jan. 20, 2016,
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on St. Louis-based Peabody Energy Corp. to 'CCC+'
from 'B'.


PENINSULA HOSPITAL: BDO USA Allowed to Provide Additional Services
------------------------------------------------------------------
U.S. Bankruptcy Judge Elizabeth Stong has signed off on an order
that allowed BDO USA, LLP to audit the financial statements of the
Tax Deferred Retirement Plan for Employees of Peninsula Hospital
Center and Peninsula General Nursing Home for the year ended Dec.
31, 2015.

BDO USA serves as auditor to Lori Lapin Jones, the bankruptcy
trustee for the estates of Peninsula Hospital and Peninsula General
Nursing Home.

                      About Peninsula Hospital

Wayne S. Dodakian, Vinod Sinha, and Shannon Gerardi filed an
involuntary Chapter 11 bankruptcy protection against Peninsula
Hospital Center -- http://www.peninsulahospital.org/-- (Bankr.
E.D.N.Y. Case No. 11-47056) on Aug. 16, 2011.  Marilyn Cowhey
Macron, Esq., at Macron & Cowhey, represents the petitioners.

On Sept. 19, 2011, PHC consented to entry of the order for relief
under Chapter 11 of the Bankruptcy Code and, on that same day,
Peninsula General Nursing Home, Inc. (d/b/a Peninsula Center for
Extended Care and Rehabilitation), filed a voluntary petition for
relief under Chapter 11 of the Bankruptcy Code.  On Sept. 21, 2011,
the Court entered an order for relief under Chapter 11 of the
Bankruptcy Code.  The Debtors' cases are being jointly administered
in accordance with an order of the Court.

The Debtor disclosed $22.8 million in assets and $34.5 million in
liabilities as of the Chapter 11 filing.

Judge Elizabeth S. Stong presides over the cases.

The Debtors employed Alvarez & Marsal Healthcare Industry Group,
LLC, as financial advisors.  The Hospital employed Abrams
Fensterman, et al., as their attorneys.  Nixon Peabody served as
their special counsel; GCG, Inc., serves as claims and noticing
agent.

Judge Stong appointed Daniel T. McMurray at Focus Management Group
as patient care ombudsman.  Neubert, Pepe & Monteith P.C. serves as
PCO's counsel.  In April 2013, the bankruptcy court discharged
Daniel T. McMurray from his duties and responsibilities as patient
care ombudsman.

Richard J. McCord, Esq., was appointed by the Court as examiner in
the Debtors' cases.  His task was to conduct an investigation of
the Debtors' relationship and transactions with Revival Home Health
Care, Revival Acquisitions Group LLC, Revival Funding Co. LLC, and
any affiliates.  Mr. McCord's own firm, Certilman Balin, & Hyman,
LLP, served as the Examiner's counsel.

CBIZ Accounting, Tax & Advisory of New York, LLC and CBIZ, Inc.,
serve as financial advisors for the Official Committee of Unsecured
Creditors.  Robert M. Hirsh, Esq., at Arent Fox LLP, in New York,
N.Y., represents the Committee as counsel.

At the behest of the U.S. Trustee, Lori Lapin Jones, Esq. was named
Chapter 11 Trustee in March 2012, replacing Todd Miller, the
Debtors' Chief Executive Officer.  The Chapter 11 trustee is
represented by LaMonica Herbst & Maniscalco LLP as her counsel.
Storch Amini & Munves, PC, serves as the Chapter 11 Trustee's
special counsel in connection with her investigation of the
Debtors.  She obtained approval to employ Garfunkel Wild, P.C., as
her special health care, regulatory, corporate, finance and
litigation counsel; and Foy Advisors LLC as consultant.


PLEASE TOUCH MUSEUM: Wins Confirmation of Amended Exit Plan
-----------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Pennsylvania
entered a six-page order confirming the First Amended Plan, as
modified, of Please Touch Museum, following the confirmation
hearing on March 16, 2016.  The Plan was filed January 26, 2016,
and modified February 2.

All three impaired classes entitled to vote have accepted the
Plan.

Any objections to confirmation of the Plan have either been
withdrawn or are overruled.

The Court held that Section 3.10(a) of the Plan is deemed deleted
and replaced in its entirety with the following:

     "a. Treatment of Allowed Claim. Unless they elect the
alternative cash option treatment provided in Section 3.10(b)
hereof. Class 6 Claimants shall receive, in full satisfaction,
settlement, release, extinguishment and discharge of such Claim,
amortized quarterly payments equal to 100 percent of the Allowed
Claim over a two (2) year period with interest at the rate of four
percent (4%) per annum. The first payment shall be made on the
Effective Date and subsequent payments shall be made every three
months thereafter with the final payment to be made on the second
anniversary of the Effective Date."

The Debtor will return to the Court on April 13 for the continued
-- and final -- hearing on its Motion authorizing and approving use
of cash collateral and providing adequate protection.

Terms of the Plan were reported by the Troubled Company Reporter on
Feb. 4, 2016.  Please Touch Museum filed the First Amended Chapter
11 Plan and Disclosure Statement a day before the Jan. 27 hearing
to approve the Disclosure Statement.

The TCR said the Debtor is conducting a "Foundation for the Future"
campaign to raise the funds which are necessary to fund the Plan.
The Debtor has established a goal of raising $10 million through
the campaign.  As of Jan. 19, 2016, the Debtor had secured pledges
of approximately $5.9 million in connection with the campaign, of
which $5.1 million is payable on or before the Effective Date of
the Plan.

Please Touch Museum filed for bankruptcy amid $60 million in debt
used to pay for its 2008 move from Center City to Memorial Hall in
Fairmount Park, according to the Philadelphia Inquirer.

According to the TCR report, the claim of the bonds which include
the outstanding principal amount of bonds, $58,000,000, plus
accrued and unpaid interest as of the Petition Date in the amount
of $3,070,653 (on account of the proceeds from the sale of the $60
million revenue bonds issued by the Philadelphia Authority for
Industrial Development that were loaned to the Debtor in 2006) will
be satisfied by the Museum making two payments totaling $8,250,000
to the indenture trustee on
account of the Bonds.  

Inquirer said the confirmed Plan will let the museum shed the $60
million debt for a payment of $11.25 million.

Harold Brubaker, Inquirer Staff Writer, reported that the March 16
confirmation hearing was a breeze and left U.S. Bankruptcy Judge
Jean K. FitzSimon with a smile on her face. "I'm very happy to
confirm this plan and allow you to get on with your business," she
said.

Inquirer said the museum raised $5.75 million from donors and the
remainder out of reserves from the museum's 2006 bond sale.  In
all, it has raised $7.86 million since filing for bankruptcy
protection in September. The William Penn Foundation provided $1.3
million, the Neubauer Family Foundation $1 million, and the
Hamilton Family Foundation $350,000. The largest donation was $3.25
million from an anonymous individual, the report said.

A copy of the Disclosure Statement dated Jan. 26, 2016, as
modified
Feb. 2, 2016, is available for free at:

    http://bankrupt.com/misc/Please_Touch_287_DS_1st_Am_Plan.pdf

                  About Please Touch Museum

Please Touch Museum operates a children's museum known as the
Please Touch Museum located at Memorial Hall in the Fairmount Park
section of Philadelphia.  It generates its revenues through a
combination of sales of memberships and tickets to the Museum,
event revenue, endowment income, and charitable contributions.

Please Touch Museum filed Chapter 11 bankruptcy petition (Bankr.
E.D. Pa. Case No. 15-16558) on Sept. 11, 2015.  The petition was
signed by Lynn McMaster, the president and chief executive
officer.

Judge Jean K. FitzSimon is assigned to the case.

The Debtor disclosed total assets of $16,244,356 and total
liabilities of $63,513,617.

Dilworth Paxson LLP serves as the Debtor's counsel.  EisnerAmper
LLP acts as the Debtor's financial advisor.  Isdaner & Company,
LLC
is the Debtor's tax advisor and auditor.  Rust Consulting/Omni
Bankruptcy is the Debtor's claims, notice and solicitation agent.


PRIME GLOBAL: Needs More Time to File Jan. 31 Form 10-Q
-------------------------------------------------------
Prime Global Capital Group Incorporated filed with the U.S.
Securities and Exchange
Commission a Notification of Late Filing on Form 12b-25 with
respect to its quarterly report on Form 10-Q for the quarter ended
Jan. 31, 2016, as it was not able to timely complete its financial
statements without unreasonable effort or expense.

The Company's Consolidated Statements of Operations are expected to
reflect net revenues of approximately $412,749 for the three month
period ended Jan. 31, 2016, compared with net revenues of $537,410
for the same period ended Jan. 31, 2015.  The decrease in net
revenues is expected to be primarily attributable to the foreign
exchange conversion due to weaker Ringgit to US Dollar. The Company
had cost of revenue of $172,414 for the three month period ended
Jan. 31, 2016, as compared to $250,530 for the same period ended
Jan. 31, 2015.  The Company also decreased its general and
administrative expenses from $476,432 for the three months ended
Jan. 31, 2015, to $129,945 for the same period ended Jan. 31, 2016.
Accordingly, the Company expects to have income from operations of
approximately $110,390 for the three month period Jan. 31, 2016,
the Company expects to have a net loss of $144,388 as compared to a
net loss of $519,274 from the same period ended Jan. 31, 2015.

                      About Prime Global

Kuala Lumpur, Malaysia-based Prime Global Capital Group operated in
the following three business segments during fiscal year 2014: (i)
software business (the provision of IT consulting, programming and
website development services); (ii) plantation business (including
oilseeds and castor seeds business); and (iii) its real estate
business.  In the fourth quarter of fiscal 2014, the Company
discontinued its castor seeds business in China, and in December
2014 it discontinued the software business (the provision of IT
consulting, programming and website services) in Malaysia. As a
result, the Company no longer conduct business operations in China
and anticipate winding down or otherwise selling its interests in
the following entities: Power Green Investments Limited; Max Trend
International Limited and Shenzhen Max Trend Green Energy Co Ltd.

Prime Global reported a net loss US$1.59 million for the year ended
Oct. 31, 2015, compared to a net loss of US$1.33 million for the
year ended Oct. 31, 2014.

Crowe Horwath (HK) CPA Limited, in Hong Kong, China, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Oct. 31, 2015, citing that the
Company has a working capital deficiency, accumulated deficit from
recurring net losses and significant short-term debt obligations
maturing in less than one year as of Oct. 31, 2015.  All these
factors raise substantial doubt about its ability to continue as a
going concern.


QUANTUM FUEL: Needs More Time to File 2015 Annual Report
--------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc., notified the
Securities and Exchange Commission that its annual report on Form
10-K for the year ended Dec. 31, 2015, could not be filed within
the prescribed period because the Company was unable to compile,
disseminate and review certain information required in order to
permit the Company to file a timely and accurate report on the
Company's financial condition.  The Company said this inability
could not have been eliminated by the Company without unreasonable
effort or expense.  

On March 15, 2016, the Company announced that it was unable to pay
its senior secured credit facility on the March 14, 2016,
expiration date which resulted in an event of default under the
Credit Facility as well as certain other secured debt instruments.
The company is currently assessing accounting considerations and
related liquidity disclosures around such defaults.

The Company anticipates that total revenues to be reported for
continuing operations will increase by approximately 19% for
calendar year 2015 as compared to revenues reported for calendar
2014.  The increase in revenues for 2015 compared to 2014 is
primarily attributable to the Company's progress in introducing and
commercializing fuel storage systems, growing its customer base,
and gaining market share over the past year.

The Company also anticipates for its current period that: (i) its
cost of revenues will increase approximately 31%, (2) its net
operating loss will increase by approximately 14%, and (iii) its
loss from continuing operations will increase by approximately 12%,
compared to the reported amounts in the prior year period. The
increase in cost of goods sold is primarily attributable to higher
product sales and incremental expenses incurred associated with the
introduction of new and next generation fuel storage modules,
specific warranty charges to retrofit first generation fuel storage
systems, and for the establishment of outside facilities that
support the installation and servicing of its products.

As announced by the Company on March 15, 2016, the Company has
engaged Mackinac Partners LLC as its financial advisor to assist
the Company with negotiating with its creditors, and evaluating all
options that may be available to the Company.  The Company said
there can be no assurance that its efforts will be successful or
that the Company will not have to seek protection under federal
bankruptcy laws.

                       About Quantum Fuel

Lake Forest, Cal.-based Quantum Fuel Systems Technologies
Worldwide, Inc. (Nasdaq: QTWW) develops and produces advanced
vehicle propulsion systems, fuel storage technologies, and
alternative fuel vehicles.  Quantum's portfolio of technologies
includes electronic and software controls, hybrid electric drive
systems, natural gas and hydrogen storage and metering systems and
other alternative fuel technologies and solutions that enable fuel
efficient, low emission, natural gas, hybrid, plug-in hybrid
electric and fuel cell vehicles.

Quantum Fuel reported a net loss of $14.9 million in 2014, a net
loss attributable to stockholders of $23.0 million in 2013, a net
loss attributable to stockholders of $30.9 million in 2012 and a
net loss attributable to common stockholders of $38.5 million in
2011.

As of Sept. 30, 2015, the Company had $67.5 million in total
assets, $45.5 million in total liabilities and $22.0 million in
total stockholders' equity.


QUICKSILVER RESOURCES: Has Until May 16 to File Ch. 11 Plan
-----------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware extended through and including May 16,
2016, Quicksilver Resources, Inc., et al.'s exclusive period to
file a plan and through and including July 12, 2016, the Debtors'
exclusive period to solicit acceptances of that plan.

The Debtors originally asked the Court to further extend their
exclusive plan filing period to June 15, 2016, and their exclusive
solicitation period to Aug. 11, 2016.

The Ad Hoc Group of Second Lienholders and Credit Suisse AG, Cayman
Islands Branch, as Second Lien Agent, however, informed the Court
that, while they believe extension of the exclusive periods will
enable an orderly and cost-effective plan process for the benefit
of all creditors, a shorter extension period than the original
request is appropriate.  The Lienholders asserted that a 45-day
extension of the Exclusive Plan Filing and a 60-day extension of
the Exclusive Solicitation Period are more reasonable, as they are
better-suited to the economic realities of the bankruptcy cases,
and will facilitate a more expeditious exit from Chapter 11.

In support of the Debtors' extension request, the Debtors' counsel,
Amanda R. Steele, Esq., at Richards, Layton & Finger, P.A., in
Wilmington, Delaware, said the additional time is needed for the
Debtors to close the Sale and formulate a chapter 11 plan to
distribute the Sale proceeds.  Granting the requested extensions
will allow the Debtors to pursue the Court-approved Sale Process to
its logical conclusion by affording time to close the Sale and to
develop an appropriate chapter 11 plan for distributing proceeds
therefrom, Ms. Steele asserted.

The Debtors are also represented by Paul N. Heath, Esq., and Rachel
L. Biblo, Esq., at Richards, Layton & Finger, P.A., in Wilmington,
Delaware; Charles R. Gibbs, Esq., Sarah Link Schultz, Esq., and
Travis A. McRoberts, Esq., at Akin Gump Strauss Hauer & Feld LLP,
in Dallas, Texas; and Ashleigh L. Blaylock, Esq., at Akin Gump
Strauss Hauer & Feld LLP, in Washington, D.C.

The Lienholders are represented by:

         Michael R. Nestor, Esq.
         Kara Hammond Coyle, Esq.
         YOUNG CONAWAY STARGATT & TAYLOR, LLP
         Rodney Square
         1000 North King Street
         Wilmington, DE 19801
         Tel: (302) 571-6600
         Fax: (302) 571-1253

            -- and --

         Dennis F. Dunne, Esq.
         Samuel A. Khalil, Esq.
         Brian Kinney, Esq.
         MILBANK, TWEED, HADLEY & McCLOY LLP
         28 Liberty Street
         New York, NY 10005
         Tel: (212) 530-5000
         Fax: (212) 530-5219

            -- and --

         Andrew M. Leblanc, Esq.
         Aaron L. Renenger, Esq.
         1850 K Street, N.W., Suite 1100
         Washington, DC 20006
         Tel: (202) 835-7500
         Fax: (202) 263-7586

                  About Quicksilver Resources

Quicksilver Resources Inc. (OTCQB: KWKA) is an exploration and
production company engaged in the development and production of
long-lived natural gas and oil properties onshore North America.
Based in Fort Worth, Texas, the company claims to be a leader in
the development and production from unconventional reservoirs
including shale gas, and coal bed methane.  Following more than 30
years of operating as a private company, Quicksilver became public
in 1999.

The Company has U.S. offices in Fort Worth, Texas; Glen Rose,
Texas; Steamboat Springs, Colorado; Craig, Colorado and Cut Bank,
Montana.  The Company's Canadian subsidiary, Quicksilver Resources
Canada Inc. is headquartered in Calgary, Alberta.

On March 17, 2015, Quicksilver Resources Inc. and certain of its
affiliates filed voluntary petitions for relief under Chapter 11 of
title 11 of the United States Code in Delaware.  Quicksilver's
Canadian subsidiaries were not included in the chapter 11 filing.

The Company's legal advisors are Akin Gump Strauss Hauer & Feld LLP
in the U.S. and Bennett Jones in Canada.  Richards Layton & Finger,
P.A., is legal co-counsel in the Chapter 11 cases.  Houlihan Lokey
Capital, Inc., is serving as financial advisor.  Garden City Group
Inc. is the claims and noticing agent.

The Company's balance sheet at Dec. 31, 2014, showed $1.21 billion
in total assets, $2.35 billion in total liabilities and total
stockholders' deficit of $1.14 billion.

The U.S. Trustee for Region 3 appointed five creditors of
Quicksilver Resources Inc. to serve on the official committee of
unsecured creditors.

Quicksilver Resources Inc. and its U.S. subsidiaries on January
22, 2016, entered into an Asset Purchase Agreement with BlueStone
Natural Resources II, LLC pursuant to which the Buyer agreed to
purchase substantially all of the Sellers' U.S. oil and gas assets
for a cash purchase price of $245.0 million.

The consummation of the transactions contemplated by the Purchase
Agreement is subject to customary closing conditions, and such
transactions are expected to close on or before March 31, 2016.


RANDALL BLANCHARD: Court Rejects IFA's Administrative Claim
-----------------------------------------------------------
Integrated Financial Associates, Inc., filed an Application for
Payment of Postpetition/Administrative Claim arising from an
alleged fraudulent transfer to Randall William Blanchard.

IFA asserts that the debtor received a fraudulent transfer from a
non-debtor entity, SCV, while IFA was a creditor of that non-debtor
entity.

The basis for IFA's Application stems from the Victorville
Agreement entered into on or about November 28, 2008, between and
among Sandcastle Nuevo, LLC ("SCN"), SCV, and IFA. The Victorville
Agreement provides, in pertinent part, that SCV deliver to Kent G.
Snyder, Esq. an unrecorded deed of trust  related to the real
property located at 14374 Borego Road, Victorville, CA 92392. The
SCV Deed of Trust was to be recorded only upon the occurrence of
certain conditions precedent. The debtor, Randall William
Blanchard, was not a party to the Victorville Agreement; however,
the recitals reflect that the SCV Deed of Trust was intended to
provide additional security for a $1.7 million note made by SCN in
favor of IFA and to "forestall IFA's potential suit" on Blanchard's
guaranty of the SCN Note.

IFA's Application asserts that the Transfers were fraudulent under
the California Uniform Fraudulent Transfer Act ("CUFTA"), that IFA
was a creditor of SCV at the time of the Transfers and that
Blanchard was the initial transferee of the Transfers. The Trustee,
Richard Pachulski, opposes the Application, asserting, among other
things, that IFA lacks standing under CUFTA because IFA was not a
creditor of SCV at the time of the Transfers.

In an Order and Memorandum Decision dated March 1, 2016, which is
available at http://is.gd/XLOT0Ofrom Leagle.com, Judge Scott C.
Clarkson of the United States Bankruptcy Court for the Central
District of California, Santa Ana Division, denied the application
for administrative Claim against Blanchard's estate and sustained
the Trustee's Evidentiary Objections.

The Court found that IFA has failed to establish its initial burden
of stating a prima facie claim for administrative expense priority.
The Court further held that IFA has failed to meet its burden of
proving statutory standing that SCV's alleged breach of the
Victorville Agreement gave rise to a "right to payment" to IFA.
That IFA has failed to meet its burden of proving that SCV was
insolvent or rendered insolvent as a result of the transfer under
and that IFA has failed to meet its burden to prove that Blanchard
engaged in actual fraud.

The case is In re RANDALL WILLIAM BLANCHARD, Chapter 11, Debtor,
Case No. 8:14-bk-14105-SC.

Randall William Blanchard, Debtor, is represented by Jacob C.
Gonzales, Esq. -- jgonzales@weintraub.com -- Weintraub Tobin,
Garrick A. Hollander, Esq. -- ghollander@winthropcouchot.com --
Winthrop Couchot, Jeannie Kim, Esq. -- jkim@winthropcouchot.com --
Winthrop Couchot PC, Marc J. Winthrop, Esq. --
mwinthrop@winthropcouchot.com -- Winthrop Couchot PC.

Richard Pachulski (TR), Trustee, is represented by Teddy M Kapur,
Esq. -- tkapur@pszjlaw.com -- Pachulski Stang Ziehl & Jones LLP,
Jeremy V Richards, Esq. -- jrichards@pszjlaw.com -- Pachulski Stang
Ziehl & Jones LLP.

United States Trustee (SA), U.S. Trustee, is represented by Frank
Cadigan, Nancy S Goldenberg.

Official Committee of Creditors Holding Unsecured Claims, Creditor
Committee, is represented by Reem J Bello, Esq. --
rbello@lwgfllp.com -- Lobel Weiland Golden Friedman LLP, Jeffrey I
Golden, Esq. -- jgolden@lwgfllp.com -- Lobel Weiland Golden
Friedman LLP.


RAZA SERVICES: Court Denies Bank's Bid to Dismiss Ch. 11 Case
-------------------------------------------------------------
Texas First Bank filed a Motion to Dismiss the Chapter 11 case of
Raza Services, LLC, for Bad Faith Filing Or, Alternatively, Motion
for Relief from the Automatic Stay.

The instant case has been pending for fewer than 60 days. The
Debtor has filed the petition with an intent to address the debts
against its unit in a medical emergency condominium complex in
Baytown, Texas, either through a lease or sale of the property. TFB
separately has sought relief from stay, and its motion remains
pending. The court concludes that there is an insufficient showing
of bad faith in the instant case for dismissal at this time.

In a Memorandum Opinion dated March 1, 2016 which is available at
http://is.gd/OVUZMgfrom Leagle.com, Judge Letitia Z. Paul of the
United States Bankruptcy Court for the Southern District of Texas,
Houston Division, concluded that there is an insufficient showing
of bad faith in the instant case for dismissal at this time and a
separate Judgment will be entered denying the motion to dismiss.

The case is IN RE RAZA SERVICES, LLC, Debtor, Case No.
16-30113-H3-11.

Raza Services, LLC, Debtor, is represented by E Rhett Buck, Esq.

US Trustee, US Trustee, represented by Ellen Maresh Hickman, Office
of the U S Trustee.


RCS CAPITAL: Amends Plan Outline to Address Objections
------------------------------------------------------
RCS Capital Corporation, et al., maintained that the disclosure
statement explaining their Chapter 11 Plan of Reorganization should
be approved and asked the U.S. Bankruptcy Court for the District of
Delaware to overrule the objections raised by American Realty
Capital Properties, Inc., and its affiliates, and the plaintiffs in
the ARCP Litigation, and the U.S. Trustee.

According to the Debtors, contrary to the position taken in the ARC
Objection, the holders of Subordinated Claims and Holdings Equity
Interests are not entitled to vote on the Plan as those classes are
not entitled to, or receiving, distributions thereunder.  The Plan
does not provide for any party to receive a greater-than-100%
recovery or for any out-of-the-money class to receive a recovery,
the Debtors tell the Court.  The Disclosure Statement and Valuation
Analysis indicate that there is insufficient value to fully satisfy
claims in Class 2 (First Lien Claims), Class 3 (Second Lien Claims)
and Class 5 (General Unsecured Claims), leaving no value to be
distributed to classes of claims and interests that are junior in
priority, the Debtors noted.  In other words, the Plan is entirely
consistent with the absolute priority rule, the Debtors maintain.

The U.S. Trustee Objection should be overruled, including with
respect to the consensual releases under the Plan and the
mechanisms related thereto, the Debtors ask the Court.  The
releases and the opt-out procedures in the Plan are commonplace and
appropriate in this District, the Debtors argue.

The Lead Plaintiffs in Weston v. RCS Capital Corp., et al. (the
"Weston Securities Litigation") reserved their rights in the
connection with the approval of the Disclosure Statement.

To address the objections, the Debtors filed an amended Disclosure
Statement on March 16, 2016, a full-text copy of which is available
at http://bankrupt.com/misc/RCSds0316.pdf

The Ad Hoc Group of Second Lien Lenders and the Steering Committee
of First Lien Lenders joined in the Debtors' reply to the
objections to the Disclosure Statement.

The Debtors are represented by Robert S. Brady, Esq., Edmon L.
Morton, Esq., Robert F. Poppiti, Jr., Esq., and Ian J. Bambrick,
Esq., at Young Conaway Stargatt & Taylor, LLP, in Wilmington,
Delaware; and Michael J. Sage, Esq., Shmuel Vasser, Esq., Stephen
M. Wolpert, Esq., Janet Bollinger Doherty, Esq., and Andrew C.
Harmeyer, Esq., at Dechert LLP, in New York.

The Steering Committee is represented by Derek C Abbott, Esq., and
Tamara K. Minott, Esq., at Morris, Nicols, Arsht & Tunnell LLP, in
Wilmington, Delaware; Scott J. Greenberg, Esq., and Stacey L.
Corr-Irvine, Esq., at Jones Day, in New York.

The Lenders Group is represented by Adam G. Landis, Esq., and
Matthew B. McGuire, Esq., at Landis Rath & Cobb LLP, in Wilmington,
Delaware; and Timothy Graulich, Esq., Natasha Tsiouris, Esq., and
David Schiff, Esq., at Davis Polk & Wardwell LLP, in New York.

                         About RCS Capital

New York-based RCS Capital Corporation --
http://www.rcscapital.com/-- is a full-service investment firm  
focused on the individual retail investor.  With operating
subsidiaries primarily focused on retail advice and until the
completion of recently announced pending sales and divestiture of
its wholesale distribution and investment banking, the company's
business aims to capitalize, grow and maximize value for the
investment programs its distributes and the independent advisors
and clients it serves.

RCS Capital Corporation and 11 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10223 to
16-10234) on Jan. 31, 2016.  The petitions were signed by David
Orlofsky as chief restructuring officer. The Debtors disclosed
total assets of $1.97 billion and total debts of $1.39 billion.

The Debtors have engaged Dechert LLP as general counsel, Young
Conaway Stargatt & Taylor, LLP as Delaware counsel, Zolfo Cooper
Management, LLC as restructuring advisor, Lazard Freres & Co. LLC
as investment banker and Prime Clerk LLC as administrative advisor
and claims and noticing agent.


RELATIVITY MEDIA: Court Issues Ch. 11 Plan Confirmatory Finding
---------------------------------------------------------------
Judge Michael E. Wiles of the U.S. Bankruptcy Court for the
District of Delaware, in a March 18, 2016, order reaffirmed in its
entirety the Court's findings of fact and conclusions of law with
respect to confirmation of Relativity Fashion, LLC, et al.'s Fourth
Amended Plan of Reorganization generally, and specifically with
respect to the feasibility requirement of Section 1129(a)(11) of
the Bankruptcy Code.

The definitive agreements with respect to the Exit Funding and the
Trigger Street Transactions are approved, and the Debtors are
authorized to enter into and consummate any and all transactions
consistent therewith, Judge Wiles ruled.

To recall, the Court, having held a hearing on February 1 and 2,
2016, regarding confirmation of the Third Amended Plan and the
Court having entered its findings of fact, conclusions of law, and
order confirming the Fourth Amended Plan on February 8, and having
further ordered that the Plan will not take effect and will not be
consummated except after the entry by the Court of the Confirmatory
Finding as set forth in Paragraph 1 of the Confirmation Order.

Judge Wiles' March 18 Order will constitute entry of the
Confirmatory Finding, pursuant to Paragraph 1 of the Confirmation
Order.

                        About Relativity

Relativity -- http://relativitymedia.com/-- is a next-generation  

global media company engaged in multiple aspects of content
production and distribution, including movies, television, sports,
digital and music.  More than just a collection of
entertainment-related businesses, Relativity is a content engine
with the ability to leverage each of these business units,
independently and together, to create content across all mediums,
giving consumers what they want, when they want it.

Relativity Studios, the Company's largest division, has produced,
distributed or structured financing for more than 200 motion
pictures, generating more than $17 billion in worldwide box-office
revenue and earning 60 Oscar nominations.  Relativity's films
include Oculus, Safe Haven, Act of Valor, Immortals, Limitless,
and The Fighter.

Relativity Media LLC and its affiliates, including Relativity
Fashion, LLC, sought protection under Chapter 11 of the Bankruptcy
Code on July 30, 2015 (Bankr. S.D.N.Y., Case No. 15-11989).  The
case is assigned to Judge Michael E. Wiles.

The Debtors are represented by Craig A. Wolfe, Esq., Malani J.
Cademartori, Esq., and Blanka K. Wolfe, Esq., at Sheppard Mullin
Richter & Hampton LLP, in New York; and Richard L. Wynne, Esq.,
Bennett L. Spiegel, Esq., and Lori Sinanyan, Esq., at Jones Day,
in New York.

Brian Kushner of FTI Consulting, Inc., serves as chief
restructuring officer and crisis and turnaround manager.  Luke
Schaeffer of FTI Consulting, Inc., serves as deputy CRO.

Blackstone Advisory Partners L.P. serves as the Debtors'
investment banker.  The team is led by Timothy Coleman, Senior
Managing Director, CJ Brown, Senior Managing Director, Paul
Sheaffer, Vice President, and Joseph Goldschmid, Associate.

The Debtors' noticing and claims agent is Donlin, Recano &
Company, Inc.

                           *     *     *

An investor group composed of Anchorage Capital Group, L.L.C.,
Falcon Investment Advisors, LLC and Luxor Capital Group, LP on
Oct. 21, 2015, completed its purchase of the assets of Relativity
Television.

After selling their TV business, the Debtors and CEO Ryan C.
Kavanaughfiled a proposed plan of reorganization that will allow
the Debtors to reorganize their non-TV business units with a
substantially de-levered balance sheet utilizing new equity
investments and new financing.  

Jim Cantelupe, of Summit Trail Advisors, LLC, assisted the Debtors
in raising up to $100 million of new equity to fund the Plan.

The Bankruptcy Court on Feb. 8, 2016 confirmed the Debtors' Fourth
Amended Plan.  A copy of the Fourth Amended Plan is available at
http://is.gd/wZI1gd  


RESIDENTIAL CAPITAL: Coopers' Claim No. 6270 Disallowed
-------------------------------------------------------
Judge Martin Glenn of the United States Bankruptcy Court for the
Southern District of New York disallowed and expunged Claim Number
6270 filed by Thomas G. Cooper and Catherine D. Cooper against
Residential Capital, LLC ("ResCap").

The Coopers asserted a secured claim of $50,000 against ResCap in
relation to a home equity line of credit ("HELOC") originated by
GMAC Mortgage, LLC ("GMACM") in August 2003.  The claim was later
reclassified as a general unsecured claim against GMACM.

The ResCap Borrower Claims Trust objected to the claim, arguing
that the debtors have no liability for the alleged failure to close
the HELOC.  The Trust alleged that although the Coopers applied
$45,508.82 to their loan on May 27, 2005, and brought the principal
balance down to $0.00, the Coopers never requested the HELOC be
closed, and as a result, the line remained open.  The Trust also
contended that any claim the Coopers had for breach of contract for
failing to close the HELOC is waived and barred by the statute of
limitations.  Additionally, the Trust also noted that the Coopers
continued to advance funds from the line of credit after they
allegedly attempted to have it closed.

Judge Glenn held that the Coopers' breach of contract claim was
time-barred, as the statute of limitations for breach of contract
in New Hampshire is three years.  The judge found that the Coopers
did not file their proof of claim until November 2012, while the
statute of limitations would have passed by May 2008.

Judge Glenn also held that the Coopers conduct of continuing to
draw on the HELOC after they claim they closed it, amounts to an
implied waiver of any breach of contract claim that the Coopers may
bring.

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.).

A full-text copy of Judge Glenn's March 2, 2016 memorandum opinion
is available at http://is.gd/C15zsUfrom Leagle.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.


RIVER CITY: Judge Extends Deadline to Remove Suits to June 24
-------------------------------------------------------------
U.S. Bankruptcy Judge Keith Phillips has given River City
Renaissance LC and River City Renaissance III, LC until June 24,
2016, to file notices of removal of lawsuits involving the
companies.

                  About River City Renaissance

Richmond, Virginia-based, River City Renaissance, LC, and River
City Renaissance III, LC, sought Chapter 11 protection (Bankr. E.D.
Va. Case Nos. 14-34080 and 14-34081) in Richmond, Virginia, on July
30, 2014.  

The Debtors filed the chapter 11 cases in order to pursue an
orderly liquidation of their real property assets, which are
comprised of 29 residential apartment buildings in the City of
Richmond, in lieu of scheduled foreclosure sales.

The cases are assigned to Judge Keith L. Phillips.  The Debtors
tapped Spotts Fain PC as counsel, and Hirschler Fleischer P.C. as
special conflicts counsel.

River City Renaissance LC disclosed $27.3 million in assets and
$29.2 million in liabilities as of the Chapter 11 filing.
Renaissance III estimated less than $10 million in assets and
debts.

The Court granted the Debtors until Oct. 26, 2015, to file Chapter

11 plan.


RND ENGINEERING: Court Allows Nagel's Claims for $1.12-Mil.
-----------------------------------------------------------
Nagel Precision Inc. designs and manufactures machines used in the
automotive and other industries. Nagel brought an adversary
proceeding against two Chapter 11 debtors, one of them an
individual, Richalin Digue, and the other a company owned by Digue,
known as RnD Engineering, LLC.

All of Nagel's claims against them arise from the fact that Digue
at one time worked as a project manager for Nagel, but now owns his
own business, RnD, that directly competes with Nagel. It took Nagel
some time to learn about Digue's competing business, but when it
did, Nagel sued Digue and RnD in state court, claiming that they
had misappropriated Nagel's trade secrets, tortiously interfered
with Nagel's business relationships, breached fiduciary duties owed
to Nagel, and otherwise engaged in wrongful conduct to the
detriment of Nagel.

In an Opinion after Trial dated March 1, 2016, which is available
at http://is.gd/QeEWzVfrom Leagle.com, Judge Phillip J. Shefferly
of the United States Bankruptcy Court for the Eastern District of
Michigan, Southern Division, allowed Nagel a claim against Digue in
the amount of $564,503.16, and a claim against RnD in the amount of
$564,503.16.  The Court also held that Nagel's allowed claim
against Digue is nondischargeable in Digue's case.

The adversary proceeding is Nagel Precision Inc., Plaintiff, v. RnD
Engineering, LLC, and Richalin Kamtchouang Digue, Defendants,
Adversary Proceeding No. 15-4189-PJS (Bankr. E.D. Mich.).

The bankruptcy case is In re: RnD Engineering, LLC, et al., Chapter
11, Debtors, Case No. 14-58049 (Bankr. E.D. Mich.).

Nagel Precision Inc., Plaintiff, is represented by Salvatore A.
Barbatano, Esq., John Richard Gehring, Esq.

RnD Engineering, LLC, Defendant, is represented by Charles D.
Bullock, Esq. -- Stevenson & Bullock, P.L.C., Elliot G. Crowder,
Esq. -- Stevenson & Bullock, P.L.C., Catherine T. Dobrowitsky,
Esq., Ernest Hassan, Esq. -- Stevenson & Bullock, P.L.C.


RYCKMAN CREEK: Judge Approves Deadlines to File Proofs of Claim
---------------------------------------------------------------
A federal judge approved the deadline proposed by Ryckman Creek
Resources LLC for filing pre-bankruptcy claims against the company
and its affiliates.

The order, issued by U.S. Bankruptcy Judge Kevin Carey, requires
creditors to file a proof of their claims on or before the date
that is no later than 25 days after service of notice of the bar
date.

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

Meanwhile, all governmental units that have claims against the
companies must submit a proof of their claims on or before August
1, 2016.

                           About Ryckman

Formed on Sept. 8, 2009, Ryckman Creek Resources, LLC is engaged in
the acquisition, development, marketing, and operation of a natural
gas storage facility known as the Ryckman Creek Facility.  The
Ryckman Creek Facility is a depleted crude oil and natural gas
reservoir located in Uinta County, Wyoming.  The Company began
development of the reservoir into a natural gas storage facility in
2011.  The Ryckman Creek Facility began commercial operations in
late 2012 and received injections of customer gas and gas purchased
by the Company.  The Debtors have approximately 35 employees.

Ryckman Creek Resources, LLC, Ryckman Creek Resources Holdings LLC,
Peregrine Rocky Mountains LLC and Peregrine Midstream Partners LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos.
16-10292 to 16-10295) on Feb. 2, 2016.  The petitions were signed
by Robert Foss as chief executive officer.  Kevin J. Carey has been
assigned the case.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP
as counsel, AP Services, LLC as management provider, Evercore Group
LLC as investment banker, and Kurtzman Carson Consultants LLC as
claims and noticing agent.

The Debtors estimated both assets and liabilities in the range of
$100 million to $500 million.  As of the Petition Date, Ryckman had
approximately $333 million of prepetition bank debt.


SAMSON RESOURCES: Can Implement Incentive and Severance Program
---------------------------------------------------------------
U.S. Bankruptcy Judge Christopher S. Sontchi approved Samson
Resources Corporation's motion to implement a non-insider incentive
program for the first eight and a half months of 2016, and a
non-officer severance program.

The Debtors filed the motion having just learned that their interim
Chief Executive Officer and Chief Operating Officer (Richard
Fraley) has resigned, effective Feb. 15, 2016.  This departure
comes shortly after the Debtors' former Chief Executive Officer and
three vice presidents announced their resignations.  

The Debtors are authorized to make, at most, approximately $6.3
million in incentive payments in the first eight and a half months
of 2016 -- approximately $2.3 million less in incentive payments
than they would if they had not updated their non-insider incentive
program.  The reduced amount is due, in part, to a smaller
participant pool and lower overall headcount.  Second, the Debtors
altered the payment schedule, with payments under the program
payable on the date an order is entered confirming a chapter 11
plan (or the date of the closing of a sale of substantially all of
the Debtors' assets); provided that if there has been no order
entered confirming a chapter 11 plan (or the sale of substantially
all of the Debtors' assets has not closed) by August 15, 2016, 75
percent of the payments shall be payable on August 15, 2016, and 25
percent shall be payable as of the date an order is entered
confirming a chapter 11 plan (or the date of the closing of a sale
of substantially all of the Debtors' assets). Payments are earned
if -- and only if -- the employees remain employed by the Debtors
as of such payment dates.  

                      About Samson Resources

Samson Resources Corporatio is an onshore oil and gas exploration
and production company with interests in various oil and gas leases
primarily located in Colorado, Louisiana, North Dakota, Oklahoma,
Texas, and Wyoming.  The Operating Companies operate, or have
royalty or working interests in, approximately 8,700 oil and gas
production sites.  Samson was acquired by KKR and Crestview from
Charles Schusterman in December 2011 for approximately $7.2
billion.  The investor group provided approximately $4.1 billion in
equity investments as part of the purchase price.

Samson Resources, et al., filed Chapter 11 bankruptcy petitions (D.
Del. Lead Case No. 15-11934) on Sept. 16, 2015.  Philip W. Cook,
the executive vice president and chief financial officer, signed
the petitions.  The Debtors estimated assets and liabilities of
more than $1 billion.

Kirkland & Ellis LLP is the general counsel of the Debtors and
Klehr Harrison Harvey Branzburg LLP is the Debtors' local counsel.
Alvarez & Marsal LLC acts as the Debtors' financial advisor.
Blackstone Advisory Partners L.P. serves as the Debtors' Investment
banker.  Garden City Group, LLC serves as claims and noticing agent
to the Debtors.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Samson Resources Corp. and its affiliated debtors to
serve on the official committee of unsecured creditors.  The
Committee has tapped White & Case LLP as counsel and Farnan LLP as
local counsel.


SAMSON RESOURCES: Can Implement Performance Award Program
---------------------------------------------------------
U.S. Bankruptcy Judge Christopher S. Sontchi has approved Samson
Resources Corporation's performance and award program as it relates
to Andrew Kidd, Sean Woolverton and Philip Cook.

The Debtors will implement a quarterly incentive program for their
senior management team, who will be critical to driving performance
and leading the Debtors to emerge from chapter 11.  The Debtors
have had substantial discussions with the official committee of
unsecured creditors and the agents under the Debtors' credit
facilities regarding the Performance Award Program and believe that
all such parties support the relief requested herein.

The Debtors submitted its proposed Performance Award Program
shortly after learning that their interim Chief Executive Officer
and Chief Operating Officer, Richard Fraley, has announced his
resignation, effective Feb. 15, 2016.  Andrew Kidd -- the Debtors'
current General Counsel -- will succeed Mr. Fraley as Chief
Executive Officer and Sean Woolverton -- the Debtors' current Vice
President of Operations, East Division -- will succeed Mr. Fraley
as Chief Operating Officer. Philip Cook, the Debtors' third
insider, is continuing his role as the Debtors' Chief Financial
Officer.

                      About Samson Resources

Samson Resources Corporation is an onshore oil and gas exploration
and production company with interests in various oil and gas leases
primarily located in Colorado, Louisiana, North Dakota, Oklahoma,
Texas, and Wyoming.  The Operating Companies operate, or have
royalty or working interests in, approximately 8,700 oil and gas
production sites.  Samson was acquired by KKR and Crestview from
Charles Schusterman in December 2011 for approximately $7.2
billion.  The investor group provided approximately $4.1 billion in
equity investments as part of the purchase price.

Samson Resources, et al., filed Chapter 11 bankruptcy petitions (D.
Del. Lead Case No. 15-11934) on Sept. 16, 2015.  Philip W. Cook,
the executive vice president and chief financial officer, signed
the petitions.  The Debtors estimated assets and liabilities of
more than $1 billion.

Kirkland & Ellis LLP is the general counsel of the Debtors and
Klehr Harrison Harvey Branzburg LLP is the Debtors' local counsel.
Alvarez & Marsal LLC acts as the Debtors' financial advisor.
Blackstone Advisory Partners L.P. serves as the Debtors' Investment
banker.  Garden City Group, LLC serves as claims and noticing agent
to the Debtors.

Andrew Vara, acting U.S. trustee for Region 3, appointed three
creditors of Samson Resources Corp. and its affiliated debtors to
serve on the official committee of unsecured creditors.  The
Committee has tapped White & Case LLP as counsel and Farnan LLP as
local counsel.


SANDRIDGE ENERGY: Delays Filing of 2015 Form 10-K
-------------------------------------------------
SandRidge Energy, Inc., disclosed in a regulatory filing with the
Securities and Exchange Commission that its annual report on Form
10-K for the year ended Dec. 31, 2015, could not be filed within
the prescribed time period without unreasonable effort or expense,
because the Company needs additional time to complete its financial
statements and related disclosures.

The Company said it has been engaged in discussions with certain
stakeholders regarding strategic alternatives to reduce its
indebtedness.  On Feb. 16, 2016, the Company elected to defer
interest payments then due with respect to its 7.5% senior notes
due 2023 and 7.5% senior convertible notes due 2023.  On March 15,
2016, within the 30-day interest payment grace period provided for
in the indentures governing the 2023 Notes, the Company made
payments of approximately $21.7 million in satisfaction of its
obligations under the 2023 Notes.  Further, on March 16, 2016, the
Company made approximately $28.4 million in interest payments then
due with respect to its 7.5% senior notes due 2021.

As a result of the uncertainty regarding potential strategic
alternatives to reduce indebtedness, the Company expects that the
report of the independent registered public accounting firm that
accompanies the audited consolidated financial statements for the
year ended Dec. 31, 2015, included in the Company's Annual Report
will contain an explanatory paragraph regarding substantial doubt
as to the Company's ability to continue as a going concern and
certain debt obligations may be reclassified as current liabilities
in the financial statements if deemed appropriate.

The Company anticipates that total revenues and income from
operations for the year ended Dec. 31, 2015, will be significantly
lower than the year ended Dec. 31, 2014, as a result of
significantly lower commodity prices, as well as moderate
year-over-year growth in total production of 9 percent.  Further as
a result of significantly decreased oil prices, the Company
incurred a full cost ceiling impairment charge of $4.5 billion for
the year ended Dec. 31, 2015.

                      About SandRidge Energy

SandRidge Energy, Inc. (OTC PINK: SDOC) --
http://www.sandridgeenergy.com/-- is an oil and natural gas
exploration and production company headquartered in Oklahoma City,
Oklahoma, with its principal focus on developing high-return,
growth-oriented projects in the U.S. Mid-Continent and Niobrara
Shale.

SandRidge reported net income attributable to the Company of
$253.28 million for the year ended Dec. 31, 2014, compared to a net
loss attributable to the Company of $553.88 million for the year
ended Dec. 31, 2013.

As of Sept. 30, 2015, SandRidge had $4.10 billion in total assets,
$4.50 billion in total liabilities and a $403.27 million total
stockholders' deficit.


SANDRIDGE ENERGY: Pays $50.1 Million Interest on Senior Notes
-------------------------------------------------------------
Sandridge Energy, Inc., on Feb. 16, 2016, issued a press release
announcing that it had elected to defer interest payments then due
with respect to its 7.5% senior notes due 2023 and 7.5% senior
convertible notes due 2023.

On March 15, 2016, within the 30-day interest payment grace period
provided for in the indentures governing the 2023 Notes, the
Company made payments of approximately $21.7 million in
satisfaction of its obligations under the 2023 Notes.  Further, on
March 16, 2016, the Company made approximately $28.4 million in
interest payments then due with respect to its 7.5% senior notes
due 2021.

                     About SandRidge Energy

SandRidge Energy, Inc. (OTC PINK: SDOC) --
http://www.sandridgeenergy.com/-- is an oil and natural gas
exploration and production company headquartered in Oklahoma City,
Oklahoma, with its principal focus on developing high-return,
growth-oriented projects in the U.S. Mid-Continent and Niobrara
Shale.

SandRidge reported net income attributable to the Company of
$253.28 million for the year ended Dec. 31, 2014, compared to a net
loss attributable to the Company of $553.88 million for the year
ended Dec. 31, 2013.

As of Sept. 30, 2015, SandRidge had $4.10 billion in total assets,
$4.50 billion in total liabilities and a $403.27 million total
stockholders' deficit.


SANDRIDGE ENERGY: S&P Raises CCR to 'CCC-', Outlook Negative
------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on oil and gas exploration and production company SandRidge
Energy Inc. to 'CCC-' from 'D'.  The outlook is negative.

S&P also raised the issue-level rating on the company's second-lien
debt to 'CCC+' from 'D'.  The recovery rating on the second-lien
debt remains '1', indicating S&P's expectation of very high (90% to
100%) recovery in the event of default.  The rating on the
company's unsecured debt remains 'D' and the recovery rating
remains '6', indicating S&P's expectation of negligible (0%-10%)
recovery in the event of default.  S&P also raised the rating on
the company's convertible preferred stock to 'C' from 'D'.

"The 'CCC-' corporate credit rating reflects our view that
SandRidge is likely to pursue a restructuring within the next six
months," said Standard & Poor's credit analyst Ben Tsocanos.  "The
rating on the unsecured debt remains 'D' because we believe the
company may enter into additional distressed exchanges on this
debt," he added.

The negative outlook reflects S&P's view that the company may enter
into a debt restructuring within the next six months.

S&P could lower the rating if SandRidge enters into a restructuring
under which investors receive less than what was promised on the
original securities.

S&P could raise the rating if it believes that the company is
unlikely to pursue a debt restructuring and that a default is
unlikely within the next six months.


SANDY CREEK: Moody's Lowers Senior Secured Rating to 'B2'
---------------------------------------------------------
Moody's Investors Service has downgraded the senior secured rating
of Sandy Creek Energy Associates, L.P. (SCEA or Project or
Borrower) to B2 from Ba3. The downgrade reflects the Borrower's
exposure to sustained weak merchant energy margins and related cash
flow owing primarily to low natural gas and power prices in the
ERCOT region where the plant operates. The rating outlook remains
negative.

The senior secured credit facilities are comprised of a $1,025
million term loan due 2020 (approx. $925.6 million outstanding at
12/31/15), a $102 million letter of credit facility due 2020 to
backstop Tax-Exempt Variable Rate Notes, and a $75 million working
capital facility due 2020. SCEA owns 64% of the Sandy Creek Energy
Station, a 945 MW single unit, once-through super-critical cycle,
pulverized coal-fired power generating facility in Riesel, Texas.
SCEA is a bankruptcy-remote entity owned by affiliates of LS Power
(Sponsor).

RATINGS RATIONALE

"[The] rating downgrade to B2 principally reflects the Project's
exposure to sustained weak merchant energy margins and related cash
flow owing to low natural gas prices and low energy prices in
ERCOT, and our expectation that this weak financial performance
will continue over the next couple of years. SCEA is particularly
vulnerable to the weak wholesale power market in ERCOT as it is a
coal-fired generator in a market where natural gas sets the
marginal price for power. Moreover, SCEA has a relatively high cost
structure in the current natural gas environment. Lower merchant
energy margins are expected to result in substantially lower credit
metrics. Prospectively, the possibility exists that annual cash
flow may be insufficient to fully cover future debt service, in the
absence of some mitigating development, such as an improving ERCOT
power pricing environment or higher merchant cash flows during the
peak periods. In addition, the lower merchant cash flows has
resulted in less excess cash flow being swept than originally
contemplated, resulting in higher refinancing risk at debt maturity
in 2020."

"The debt service coverage ratio (DSCR) for 2015, as calculated by
Moody's is expected to be 1.32x (and differs from the calculation
of the financial covenant DSCR in the loan documentation as it
excludes cash as well as the debt service reserve letter of credit
from cash flow available for debt service). This DSCR compares with
an expected DSCR of 2.28x for 2015 in our Moody's base case."

"Furthermore, we understand that the plant has been off-line since
November 2015 for economic reasons, reflecting its
uncompetitiveness in the current wholesale market in ERCOT.
Revenues from the capacity payments in the PPAs are unaffected by
the economic outage. As a result, the EBITDA associated with the
PPA is generally in line with our expectations for 2015. EBITDA
related to hedges was lower during 2015 due to a decision to defer
the remaining J. Aron payments (approximately $12 MM for the year)
into 2016, which will aid financial performance this year. The
plant currently remains off line due to the economic outage and
will be returned to service once the energy market fundamentals
improve (when there is potential for positive energy margins). We
believe that plant will operate during the second, third, and
portions of the fourth quarter. In the meantime, we understand the
operator continues to look for opportunities to reduce fixed
costs."

The B2 rating also considers SCEA's revenue profile that is
anchored by contracted cash flows under long-term PPAs (30 years)
with Brazos Electric Power Cooperative, Inc. for 155 MWs and Lower
Colorado River Authority (LCRA: A2 stable) for 104MWs. These PPAs
provide for stability and predictability to SCEA's cash flows as
the terms of the PPAs allow pass through of fixed and variable
costs, including carbon emissions costs. Brazos also has a 25%
ownership interest in the plant, which entitles it to 236MWs of the
plant's output, while LCRA has an 11.13% interest in the plant (or
105MWs of the plant's output). Moody's views the presence of SCEA's
contract counterparties as Sandy Creek plant co-owners to be a
credit positive, particularly with respect to working through any
disputes and issues, as their interests as plant owners and
contract counterparties are more aligned. The PPA counterparties
continue to make their contractual capacity payments during the
period of economic outage, and this is tangible evidence of a
strong relationship. Importantly, it should be noted that it is
also less expensive for the PPA counterparties to procure power
from other sources in the market than it is to reimburse SCEA under
the PPAs for higher priced power produced by the plant.

SCEA also currently benefits from additional gas hedges that
provide for incremental hedged cash flow in 2016, 2017 and 2018.
"We calculate that even if SCEA sells no merchant energy, the DSCR
(as calculated by Moody's) will be 1.14x for 2016 and 0.95x in
2017, assuming the economic outage continues and the PPA
counterparties continue to make their capacity payments, and there
are no further reduction in the fixed costs associated with
merchant sales (not reimbursed under the PPAs). In other words, it
appears that SCEA will still be able to cover debt service in 2016,
but it may struggle to fully cover debt service in 2017 in the
absence of some other mitigating circumstance, such as higher
merchant cash flows during the peak summer months or a modest draw
on its six month debt service reserve."

"We believe that this financial underperformance is likely to
continue for the next several years in the absence of a substantial
improvement in ERCOT's wholesale power market. If SCEA is able to
capture some merchant sales, especially during peak pricing periods
in the all-important 3rd quarter of each year when temperatures in
Texas are at their highest, and is able to cover the variable costs
associated with the merchant sales as well as make a contribution
toward fixed costs, then SCEA should be able to do better in terms
of debt service coverage. However, this will not allow much cushion
for unexpected operating issues."

Given this financial profile, there will continue to be very little
deleveraging beyond the 1% scheduled amortization under the term
loan, which will result in higher refinancing risk than originally
anticipated. While time is on the side of the issuer (given the
November 2020 maturity date), should the energy markets in ERCOT
remain in the current condition, the likelihood of debt
restructuring becomes a real possibility in the absence of
significant support from the Sponsor.

On the positive side, SCEA has liquidity that can help it get
through the next few years, which are crucial. The issuer currently
has about $40 million available under its working capital facility
as well as a 6-month debt service reserve letter of credit. These
facilities do not mature until 2020.

Rating Outlook

"The continuing negative outlook reflects the project's exposure to
weak merchant power prices in ERCOT and our expectations for
sustained weak financial performance. The negative outlook
recognizes the possibility that while the project is likely to limp
along for the next several years, cash flow could be insufficient
to fully cover debt service at some point in the future, in the
absence of some mitigating development. Refinancing risk has
increased given the absence of any material excess cash flow being
generated to de-lever the project. Factors influencing the
direction of the rating include: financial performance for 2016 and
2017; SCEA's ability to enter into new hedges; and the project's
ability to reduce costs."

In light of the negative outlook, limited prospects exist for the
rating to be upgraded in the short-run. The rating outlook could
stabilize if power prices recover in ERCOT and/or additional
financial hedges are entered into such that SCEA can be expected to
comfortable cover its debt service.

The rating is likely to be downgraded further if financial metrics
deteriorate further, if the plant faces other challenges, including
operating problems, if the relationship between SCEA and the
counterparties deteriorate, and the wholesale energy markets in
ERCOT show no signs of improvement, thereby making the prospect of
a credible refinancing plan increasingly unlikely.

Sandy Creek Energy Station (Sandy Creek) is a greenfield nominal
945 MW single unit super-critical coal-fired base load electric
generating station located near Riesel, Texas. Ownership of the
Project is held 63.87% by Sandy Creek Energy Associates, LP (SCEA),
a 25% interest by Brazos Sandy Creek Electric Cooperative, Inc.
(Brazos), and an 11.13% interest by Lower Colorado River Authority
(LCRA: A2, Stable).


SCHOOLMAN TRANSPORTATION: Case Summary & 20 Top Unsec. Creditors
----------------------------------------------------------------
Debtor: Schoolman Transportation System, Inc.
        1600 Locust Avenue
        Bohemia, NY 11716

Case No.: 16-71172

Chapter 11 Petition Date: March 18, 2016

Court: United States Bankruptcy Court
       Eastern District of New York (Central Islip)

Judge: Hon. Alan S Trust

Debtor's Counsel: Michael G McAuliffe, Esq.
                  THE LAW OFFICE OF MICHAEL G. MCAULIFFE
                  68 South Service Road, Suite 100
                  Melville, NY 11747
                  Tel: 631 465-0044
                  E-mail: mgmlaw@optonline.net

Total Assets: $2.01 million

Total Liabilities: $4.43 million

The petition was signed by William Schoolman, CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nyeb16-71172.pdf


SDI SOLUTIONS: Meeting to Form Creditors' Panel Set for March 24
----------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on March 24, 2016, at 10:00 a.m. in the
bankruptcy case of SDI Solutions LLC, et al.

The meeting will be held at:

         The DoubleTree Hotel
         700 King St.
         Wilmington, DE 19801

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

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

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

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


SEARS HOLDINGS: Incurs $1.12 Billion Net Loss in 2015
-----------------------------------------------------
Sears Holdings Corporation filed with the Securities and Exchange
Commission its annual report on Form 10-K disclosing a net loss of
$1.12 billion on $25.14 billion of revenues for the year ended Jan.
30, 2016, compared to a net loss of $1.81 billion on $31.19 billion
of revenues for the year ended Jan. 31, 2015.

As of Jan. 30, 2016, Sears Holdings had $11.33 billion in total
assets, $13.29 billion in total liabilities and a total deficit of
$1.95 billion.

"We have ongoing discussions concerning our liquidity and financial
position with the vendor community and third parties that offer
various credit protection services to our vendors.  The topics
discussed have included such areas as pricing, payment terms and
ongoing business arrangements.  As of the date of this report, we
have not experienced any significant disruption in our access to
merchandise or our operations," the Company said.

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

                      http://is.gd/pU4Wqp

                           About Sears

Sears Holdings Corporation (NASDAQ: SHLD) --
http://www.searsholdings.com/-- is an integrated retailer focused
on seamlessly connecting the digital and physical shopping
experiences to serve members.  Sears Holdings is home to Shop Your
Waytm, a social shopping platform offering members rewards for
shopping at Sears and Kmart as well as with other retail partners
across categories important to them.

The Company operates through its subsidiaries, including Sears,
Roebuck and Co. and Kmart Corporation, with more than 2,000 full-
line and specialty retail stores in the United States and Canada.

Kmart Corporation and 37 of its U.S. subsidiaries filed voluntary
Chapter 11 petitions (Bankr. N.D. Ill. Lead Case No. 02-02474) on
Jan. 22, 2002.  Kmart emerged from chapter 11 protection on May 6,
2003, pursuant to the terms of an Amended Joint Plan of
Reorganization.  Skadden, Arps, Slate, Meagher & Flom, LLP,
represented Kmart in its restructuring efforts.  Its balance sheet
showed $16,287,000,000 in assets and $10,348,000,000 in debts when
it sought chapter 11 protection.

Kmart bought Sears, Roebuck & Co., for $11 billion to create the
third-largest U.S. retailer, behind Wal-Mart and Target, and
generate $55 billion in annual revenues.  Kmart completed its
merger with Sears on March 24, 2005.

                            *     *     *

Moody's Investors Service in January 2014 downgraded Sears
Holdings Corporate Family Rating to 'Caa1' from 'B3'.  The rating
outlook is stable.

The downgrade reflects the accelerating negative performance of
Sears' domestic business with comparable sales falling 7.4% for
the quarter to date ending January 6th, 2014 compared to the prior
year.  The company now expects domestic Adjusted EBITDA to decline
to a range of ($80 million) to $20 million for the fourth fiscal
quarter, compared with $365 million in the year prior period.  For
the full year, Sears expects domestic Adjusted EBITDA loss between
$(308) million and $(408) million, as compared to $557 million
last year.  Moody's expects full year cash burn (after capital
spending, interest and pension funding) to be around $1.2 billion
in 2013 and we expect Sears' cash burn to remain well above $1
billion in 2014.  "Operating performance for fiscal 2013 is
meaningfully weaker than our previous expectations, and we expect
negative trends in performance to persist into 2014" said Moody's
Vice President Scott Tuhy.  He added "While Sears noted improved
engagement metrics for its "Shop Your Way" Rewards program,
Moody's remains uncertain when these improved engagement metrics
will lead to stabilization of operating performance."

As reported by the TCR on March 26, 2014, Standard & Poor's
Ratings Services affirmed its ratings on the Hoffman Estate, Ill.-
based Sears Holdings Corp., including the 'CCC+' corporate credit
rating.

Fitch Ratings had downgraded its long-term Issuer Default Ratings
(IDR) on Sears Holdings Corporation (Holdings) and its various
subsidiary entities (collectively, Sears) to 'CC' from 'CCC',
according to a TCR report dated Sept. 12, 2014.


SEOUL PRESBYTERIAN: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
Debtor: Seoul Presbyterian Church
        6428 Ox Road
        Fairfax Station, VA 22039

Case No.: 16-10983

Chapter 11 Petition Date: March 18, 2016

Court: United States Bankruptcy Court
       Eastern District of Virginia (Alexandria)

Judge: Hon. Brian F. Kenney

Debtor's Counsel: Richard G. Hall, Esq.
                  RICHARD G. HALL
                  7369 McWhorter Place, Suite 412
                  Annandale, VA 22003
                  Tel: 703-256-7159
                  Fax: (703)941-0262
                  E-mail: richard.hall33@verizon.net

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gun Ho Choi, trustee.

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


SFS LTD: Exclusive Right to File Plan Extended to April 11
----------------------------------------------------------
SFS Ltd., formerly known as Simply Fashion Stores Ltd., obtained a
court order extending the period of time during which it alone
holds the right to file a Chapter 11 plan.

The order, issued by Judge Laurel Isicoff of the U.S. Bankruptcy
Court for the Southern District of Florida, extended the company's
exclusive right to propose a liquidating plan to April 11, 2016,
and solicit votes from creditors to June 10, 2016.  

The extension would prevent others from filing rival plans in court
and maintain the company's control over its bankruptcy case.

                   About Simply Fashion Stores

Owned by the Shah family, Simply Fashion has 247 stores in 25
states across the country in major markets such as Detroit, Miami,
New Orleans, St. Louis, Chicago, Atlanta, Baltimore, Nashville and
Dallas. Founded in 1991, Simply Fashion is primarily a brick and
mortar retailer of Junior, Plus and Super Plus women's fashion
catering to African-American women between the ages of 25 and 55,
with locations in 25 states.

Adinath Corp. is the general partner of Simply Fashion.  It is
owned 100% by Bhavana Shah.

On April 16, 2015, Adinath and Simply Fashion Stores, Ltd., each
filed a voluntary petition for relief under Chapter 11 of the
United States Bankruptcy Code in Miami, Florida (Bankr. S.D. Fla.,
Case No. 15-16885).  The cases are under the Honorable Laurel M.
Isicoff.

The Debtors have tapped Berger Singerman LLP as counsel; Kapila
Mukamal, LLP, as restructuring advisor; and Prime Clerk LLC as
claims and noticing agent.

Simply Fashion estimated $10 million to $50 million in assets and
debt.

The U.S. Trustee for Region 21 appointed five creditors to serve on
the official committee of unsecured creditors.

On July 24, 2015, the U.S. Trustee appointed James P.S. Leshaw as
consumer privacy ombudsman in the Debtors' Chapter 11 cases.

                           *     *     *

On Aug. 20, 2015, the Court entered an order authorizing the
Debtors to sell their intellectual property assets.  Pursuant to
Section 5.1(b) of the Asset Purchase Agreement, the Debtors have
changed the legal name of "Simply Fashion Stores, Ltd." to "SFS,
Ltd."  The Court on March 2, 2016, entered an order granting the
Debtors a limited exclusivity extension.


SFX ENTERTAINMENT: Has Final Authority to Obtain $87.6MM DIP Loan
-----------------------------------------------------------------
Judge Mary F. Walrath of the United States Bankruptcy Court for the
District of Delaware gave SFX Entertainment, Inc., final authority
to draw upon an aggregate principal amount of up to $87.6 million
from the DIP Facility entered into with Wilmington Savings Fund
Society, FSB, as administrative agent and collateral agent for a
consortium of lenders.

Judge Walrath further authorized that the DIP Facility may be
increased to provide for additional uncommitted $15 million in term
loans as Incremental Tranche B DIP Loans and a Letter of Credit to
the extent of the amount set forth in any Foreign Loan Amendments
that increases the principal amount of the Foreign Loan Facility.

The Debtors are authorized to use the Cash Collateral for the
indefeasible payment in full of the First Lien Obligations due in
the aggregate amount of approximately $33,241,666 in respect of the
First Lien Credit Agreement, in accordance with and subject to the
terms and conditions of the Approved Budget, the DIP Loan Documents
and as provided under the Final Order.

The borrowing of term loans will consist of Tranche A DIP Loans in
an amount not to exceed $30 million and Tranche B DIP Loans in an
amount not to exceed $57.6 million, of which an aggregate principal
amount of the DIP Loans of up to $43 million shall be available to
the Debtors upon entry of the Amended Interim Order and shall be
drawn in a single draw by the Debtors - $30 million shall be
Tranche A DIP Loans and $13 million shall be Tranche B DIP Loans.

Judge Walrath also gave the Debtors final authority to use cash
collateral securing their prepetition indebtedness.

                Committee's Objection Overruled

The objection raised by the Official Committee of Unsecured
Creditors was overruled.  The Commitee opposed the Debtor's DIP
Motion, complaining that the Debtors and the DIP Lenders are
essentially dictating the terms of a Chapter 11 plan by
inextricably linking the Restructuring Support Agreement (RSA)
milestones to the DIP Facility and by requiring approval of the
milestones pursuant to the DIP Motion to effectuate the desired
restructuring of the Debtors, binding the estates to the terms and
restrictions of the RSA which has not yet been approved and leaving
unsecured creditors to receive nothing.

The Committee further complains that the Foreign Loans should not
be rolled up since the Committee is still investigating the facts
and circumstances surrounding the issuance of such Foreign Loans as
it appear that the DIP Lenders purchased the Foreign Loans through
the Assignment Agreements and have stepped into the shoes of the
Initial Foreign Loan Parties. Thus, any liens afforded to the DIP
Lenders should be limited to the actual amount of postpetition
funding, if any, made to the Foreign Loan Obligors pursuant to the
DIP Facility, the Committee added.

Moreover, the Committee criticizes the meager amount of $278,000
allocated for the Committee’s professionals during the
thirteen-week budget period -- which represents less than 10% of
the amounts allocated for payments to the Debtors’ lawyers,
consultants, and financial advisor -- as compared to the DIP Budget
allocation to pay for Sillerman’s legal fees in the amount
$200,000, whom the Committee alleges to be not legally entitled to
receive payment of any fees.

The Official Committee of Unsecured Creditors is represented by:

     Bradford J. Sandler, Esq.
     Debra I. Grassgreen, Esq.
     Joshua M. Fried, Esq.
     Colin R. Robinson, Esq.
     PACHULSKI STANG ZIEHL & JONES LLP
     919 North Market Street, 17th Floor
     Wilmington, DE 19801
     Telephone: (302) 652-4100
     Facsimile: (302) 652-4400
     Email: bsandler@pszjlaw.com
            dgrassgreen@pszjlaw.com
            jfried@pszjlaw.com
            crobinson@pszjlaw.com

       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: RSA an Insider Transaction, WPP Complains
------------------------------------------------------------
WPP Luxembourg Gamma SARL (WPP) asks the U.S. Bankruptcy Court not
to give SFX Entertainment, Inc., et al., authority to assume the
Restructuring Support Agreement entered into among the Debtors,
certain holders of the Debtors' Second Lien Notes and Robert F.X.
Sillerman, and entities controlled by Sillerman.

According to WPP, the plan promoted by the RSA proposes no
distribution to existing equity holders and to holders of general
unsecured claims.  In addition, WPP tells the Court that there is a
need to conduct an adequate investigation into the value of the
Debtors especially when there is some evidence issued by the
Debtors themselves that the Debtors may actually be solvent for the
last publicly filed SEC Form 10-Q showed substantial equity.

Moreover, WPP criticizes the continuing role of Mr. Sillerman in
the reorganized Debtor, alleging that the RSA transaction involves
insiders and estate fiduciaries that merits heightened scrutiny
especially since Mr. Sillerman is the chief executive officer and
chairman of the board of directors, and owns just over 40% of the
common stock of SFX Entertainment, Inc., discounting the
application of the business judgment rule.

WPP Luxembourg Gamma SARL is represented by:

     Joseph H. Huston, Jr., Esq.
     STEVENS & LEE, P.C.
     919 North Market Street, Suite 1300
     Wilmington, Delaware 19801
     Telephone: (302) 425-3310
     Email: jhh@stevenslee.com

     -- and --

     Alec P. Ostrow, Esq.
     BECKER, GLYNN, MUFFLY, CHASSIN & HOSINSKI LLP
     299 Park Avenue
     New York, New York 10171
     Telephone: (212) 888-3033
     Email: aostrow@beckerglynn.com

        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: Seeks Approval of Proposed NCU KEIP, KERP
------------------------------------------------------------
SFX Entertainment, Inc., et al., seek authority from the U.S.
Bankruptcy Court to implement (a) their proposed performance-based
key employee incentive plan applicable to non-core business units
held for sale (the "NCU KEIP"), (b) the Debtors' proposed key
employee retention plan applicable to non-core business units held
for sale (the "NCU KERP").

The programs establish incentive compensation programs in respect
of the Debtors' goal to consummate the sale of several of their
discrete non-core business units, including substantially all of
the assets of Debtor Beatport, LLC, and the Fame House business of
Debtor SFX Marketing LLC.

The Debtors tell the Court that they worked with their proposed
crisis and turnaround manager, FTI Consulting, Inc., to develop the
terms of the NCU KEIP and to establish a structure for incentives
designed to motivate NCU KEIP Participants, ensuring that these key
members of the NCUs continue in their efforts to successfully
maximize value for the benefit of all of the Debtors'
stakeholders.

The material terms of the NCU KEIP are as follows:

   a. An amount up to 5% of the gross sale proceeds associated with
the sale of each NCU will be available for the CRO to utilize to
make payments to NCU KEIP Participants.

   b. NCU KEIP Payments will not exceed $400,000 per NCU sale, and
no more than $250,000 per individual.  However, if KEIP Payments
utilized in respect of a particular NCU sale do not reach this cap,
the CRO may, in consultation with the Special Committee, apply the
balance of such funds to the KEIP Payments in respect of the sale
of another NCU, subject to the $400,000 per NCU and $250,000
individual caps set forth in the preceding sentence and
notwithstanding the 5% of sale proceeds allocated for NCU KEIP
Payments.

   c. The CRO may determine that NCU KEIP Payments of less than 5%
are sufficient to incentivize the KEIP Participants of a particular
higher-value NCU. The Debtors seek the flexibility of a 5% cap due
to the uncertain values of the NCUs, the necessity that such NCUs
be sold forthwith and the importance of the NCU KEIP Participants
to such sale processes.

   d. The aggregate cap will be $2.2 million, consistent with the
median maximum identified in the comparable KEIPs, which creates
certainty with respect to the total amount of NCU KEIP Payments and
brings the NCU KEIP within the range of market standards.

In addition to the NCU KEIP, the Debtors also seek to implement the
NCU KERP for certain individual non-insider employees to ensure
that the Debtors do not suffer significant and costly turnover of
key employees during the Debtors' efforts to sell certain of their
NCUs. The NCU KERP Participants are critical employees who have the
knowledge and experience to carry out the decisions of management
in an efficient and effective manner, but will not be individuals
who manage or control the NCUs.

According to the Debtors, FTI anticipates that the aggregate cost
of the NCU KERP will not exceed $750,000, which is more than 25%
below the median aggregate cost of KERPs approved for similarly
situated companies.

The NCU KERP containing following material terms:

   a. Bonus payments made to NCU KERP Participants in respect of
the sale of an NCU shall not exceed $150,000 in the aggregate per
NCU sold. Bonus payments to individual NCU KERP Participants will
be contingent on a determination by the CRO, in his sole
discretion, that an individual NCU KERP Participant has satisfied
the Performance Objectives during the Performance Period in respect
of the applicable NCU being sold.

   b. In the event the $150,000 threshold is not reached in respect
of a particular NCU that is sold, the CRO may, in consultation with
the Special Committee, rollover the excess funds for use as NCU
KERP payments in connection with another NCU held for sale, but in
no event shall total bonuses to NCU KERP Participants exceed
$250,000 in respect of the sale of any one NCU, inclusive of any
excess funds rolled over by the CRO.

   c. The aggregate amount that will be paid to any individual NCU
KERP Participant is $40,000.

SFX Entertainment, Inc., et al. are represented by:

     Dennis A. Meloro, Esq.
     GREENBERG TRAURIG, LLP
     1007 North Orange Street, Suite 1200
     Wilmington, Delaware 19801
     Telephone: (302) 661-7000
     Facsimile: (302) 661-7360
     Email: melorod@gtlaw.com

        -- and --

     Nancy A. Mitchell, Esq.
     Maria J. DiConza, Esq.
     Nathan A. Haynes, Esq.
     GREENBERG TRAURIG, LLP
     200 Park Avenue
     New York, New York 10166
     Telephone: (212) 801-9200
     Facsimile: (212) 801-6400
     Email: mitchelln@gtlaw.com
            diconzam@gtlaw.com
            haynesn@gtlaw.com

        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.


SILVER SPRING: Kotlarsky Appeal from Atty Fee Order Remanded
------------------------------------------------------------
Law Offices of Mark Kotlarsky, Esq., Pension Plan appeals an order
of the United States Bankruptcy Court for the District of Maryland
awarding attorney's fees to Paul Sweeney of the law firm of Yumkas,
Vidmar & Sweeney, LLC, counsel for Appellee Trustee Gary A. Rosen.


Silver Spring Family Medical Center, LLC, filed a Voluntary
Petition for Chapter 7 Bankruptcy and Rosen was appointed Trustee
for the estate. The bankruptcy court granted the Trustee's request
to appoint attorney Paul Sweeney of the law firm of Yumkas, Vidmar
& Sweeney, LLC as Special Counsel for the Trustee. The Trustee
submitted a First and Final Application Requesting Order
Authorizing Final Compensation to Yumkas, Vidmar & Sweeney, LLC
("First Fee Application"). The application sought $10,472.50 in
fees and $25.60 in expenses for services rendered by Sweeney
between August 1, 2012 and February 14, 2013. Kotlarsky, a creditor
of the estate, opposed the application, characterizing Sweeney's
work as unnecessary, unhelpful, and non-compensable. United States
Bankruptcy Judge Thomas J. Catliota awarded Sweeney all but $237 of
the requested fees.

Kotlarsky's Statement of Issues identified one issue for appeal:
whether the bankruptcy court erred in granting the Second Fee
Application which requested an order authorizing final compensation
to Yumkas, Vidmar & Sweeney, LLC. The application requested $6,500
in fees and $183.94 in expenses for work performed by Sweeney
between February 15, 2013 (the day after Rosen submitted the First
Fee Application) and August 19, 2013 (the day of the hearing on the
First Fee Application).

The Trustee contended that the Appeal should be dismissed because
Kotlarsky failed to properly designate the record, that the
bankruptcy court did not err in approving the fee application, and
that Kotlarsky waived the argument against attorney's fees for time
spent defending the First Fee Application by not raising it before
the bankruptcy court.

In a Memorandum Opinion dated March 3, 2016, which is available at
http://is.gd/1I89KMfrom Leagle.com, Judge Theodore D. Chuang of
the United States District Court for the District of Maryland
affirmed in part and reverses in part the order of the bankruptcy
court and remanded the case for further proceedings.

The law currently in effect renders the First Fee Application
unlawful, Judge Chuang held.  Because the record does not clearly
establish the amount of the attorney's fee award attributable to
defense of the First Fee Application, the Court remanded the case
to the bankruptcy court for revision of the second fee award in a
manner consistent with Baker Botts case.

The case is IN RE: SILVER SPRING FAMILY MEDICAL CENTER, LLC LAW
OFFICES OF MARK KOTLARSKY, ESQ. PENSION PLAN, Appellant, v. GARY A.
ROSEN, Trustee, Appellee, Civil Action No. TDC-15-1834.

Law Offices of Mark Kotlarsky, Esq. Pension Plan, Appellant, is
represented by Mark Kotlarsky, Esq. -- mark@lawmk.com -- Law
Offices of Mark Kotlarsky.

Gary A. Rosen, Appellee, is represented by Paul Sweeney, Esq. --
psweeney@yvslaw.com -- Yumkas, Vidmar, Sweeney & Mulrenin, LLC.

Silver Spring Family Medical Center, LLC, Debtor, is represented by
Richard Harold Gins, Esq. -- richard@ginslaw.com -- Law Office of
Richard H Gins LLC.

Gary A. Rosen, Trustee, is represented by Gary A Rosen, Esq. --
logar@logarpc.com -- Law Office of Gary A Rosen.

US Trustee, Trustee, is represented by Gerard R Vetter, Office of
the US Trustee.


SPIRIT AEROSYSTEMS: S&P Raises Corp. Credit Rating From 'BB'
------------------------------------------------------------
Standard & Poor's Ratings Services said that it has raised its
corporate credit rating on Wichita, Kan.-based aircraft structures
supplier Spirit AeroSystems Inc. to 'BBB-' from 'BB'.  The outlook
is stable.

At the same time, S&P raised its issue-level ratings on the
company's unsecured notes to 'BBB-' from 'BB'.

Additionally, S&P has withdrawn all of its recovery ratings on
Spirit because S&P do not assign recovery ratings to the debt of
companies that S&P rates as investment grade.

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

"The upgrade reflects Spirit's significantly improved profitability
and cash flow over the past two years stemming from its improved
operating efficiency, lower-cost structure, and the divestiture of
its unprofitable business jet programs," said Standard & Poor's
credit analyst Chris Mooney.  "We believe that the company's strong
credit metrics combined with the solid demand in its mature 737
program (which accounts for about 50% of its total sales) offset
the risks surrounding the execution of its A350 program (which is
in early stage production) and its ongoing negotiations with Boeing
involving pricing on its existing programs."

The stable outlook on Spirit reflects S&P's expectation that the
company's credit ratios will remain very strong, though they could
moderate somewhat depending on how the company decides to divide
its cash flow between shareholder rewards and acquisitions.

S&P could raise its ratings on Spirit if management commits to
keeping the company's FFO-to-debt ratio above 60% and its
debt-to-EBITDA metric below 1.5x.  S&P could also raise its rating
over time if the company is able to maintain steady profitability,
successfully execute the production rate increases on the 737 and
A350 programs, and reach a reasonable long-term pricing agreement
with Boeing.

S&P could lower its ratings on Spirit if its FFO-to-debt ratio
remains below 45% due to a higher-than-expected level of
shareholder rewards or unanticipated operational problems that
disrupt its earnings and cash flow.  If this ratio were to fall
below 45% because of a large acquisition, S&P would also have to
consider whether the transaction improves Spirit's diversity or
increases its integration risk before we could determine if it
warrants a downgrade.


SPORTS AUTHORITY: 341 Meeting of Creditors Set for March 29
-----------------------------------------------------------
The U.S. trustee overseeing the Chapter 11 cases of Sports
Authority Holdings Inc. and its affiliates is set to hold a meeting
of creditors on March 29, 2016, at 9:00 a.m., according to a filing
with the U.S. Bankruptcy Court in Delaware.

The meeting will take place at J. Caleb Boggs Federal Building,
Room 2112, 844 King Street, Wilmington, Delaware.

The court overseeing the bankruptcy case of a company schedules the
meeting of creditors usually about 30 days after the bankruptcy
petition is filed.  The meeting is called the "341 meeting" after
the section of the Bankruptcy Code that requires it.

A representative of the company is required to appear at the
meeting and answer questions under oath.  The meeting is presided
over by the U.S. trustee, the Justice Department's bankruptcy
watchdog.

                     About Sports Authority

Englewood, Colo.-based Sports Authority Inc. is a sporting-goods
chain in the U.S.  Sports Authority was acquired in 2006 in a $1.4
billion leveraged buyout by Los Angeles-based private equity firm
Leonard Green & Partners.

The Company in January skipped a $21 million interest payment on
its $643 million in debt.  The Company has been widely reported to
be preparing to file for bankruptcy as it faced a debt payment.
According to various reports, the Company was reportedly in talks
with lenders including TPG Capital Management on a deal to
reorganize in Chapter 11 bankruptcy proceedings.

                       *     *     *

As reported by the Troubled Company Reporter on Jan. 22, 2016,
Moody's Investors Service downgraded The Sports Authority Inc.'s
Corporate Family Rating and $300 million secured term loan due 2017
rating to Caa3 from Caa1 due to the company's announcement that it
elected to not make the approximately $21 million subordinated
notes interest payment that was due Jan. 15, 2016.  The ratings
outlook is negative.


SPORTS AUTHORITY: Gets Interim OK to Start Closing Store Sales
--------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware issued an
order on an interim basis through and including March 29, 2016:

   (a) authorizing Sports Authority Holding, Inc., and its debtor
       affiliates to assume closing store agreement;

   (b) authorizing and approving closing sales free and clear of
       all liens, claims and encumbrances;

   (c) authorizing the implementation of customary employee bonus
       program and payments to non-insiders;

   (d) approving dispute resolution procedures; and

   (e) approving the Debtors' store closing plan.

The Court found that the Debtors have advanced sound business
reasons for entering into the Closing Store Agreement, and that
doing so is in the best interest of the Debtors and their
bankruptcy estates.

The Court will commence a hearing on March 29 at 1:00 p.m. (ET) to
consider the motion on a final basis.

The Debtors also filed with the Court a notice of corrected list of
designated store closing locations.  A copy of the Notice is
available for free at:

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

                 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.


SWIFT ENERGY: Weatherford Resigns from Creditors' Committee
-----------------------------------------------------------
Andrew R. Vara, Acting U.S. Trustee for Region 3, filed an amended
notice of appointment of committee of unsecured creditors in the
Chapter 11 cases of Swift Energy Company and its debtor
affiliates.

According to the notice, Weatherford Artificial Lift Systems, LLC,
resigned from the Committee effective February 16, 2016.

The remaining Committee members are:

     1. Wilmington Trust, N.A.
        Attn: Peter Finkel
        50 South 6th St., Ste. 1290
        Minneapolis, MN 55402
        Phone: 612-217-5629
        Fax: 612-217-5651

     2. Bruce H. Vincent
        306 Terrace Dr.
        Houston, TX 77007
        Phone: 713-206-6054

                       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.

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.


TERRA ENERGY: Receives CWB Demand Letter; Ceases Operations
-----------------------------------------------------------
Terra Energy Corp. in furtherance of its announcement of March 18,
2016, that its lender, Canadian Western Bank (CWB), has made a
demand on Terra, as debtor, and each of its Guarantors for payment
in full of Terra's outstanding indebtedness plus accrued interest,
costs and fees and that CWB provided Terra and each of its
Guarantors with a Notice of Intention to Enforce Security under
section 244(2) of the Bankruptcy and Insolvency Act (Canada), on
March 21 disclosed that Terra and each of its Guarantors has
consented to the enforcement by CWB, as secured lender to Terra of
CWB's security pursuant to section 244(2) of the Bankruptcy and
Insolvency Act (Canada).

Terra in furtherance of its announcement of March 18, 2016, that it
has undertaken a process of shutting-in all of its
operated/licensed wells and facilities in order to secure and
enhance the safety of its operations, announces that all of its
operated/licensed wells and facilities have now been shut-in in
Alberta and British Columbia and that Terra has now terminated
certain officers of the Company and all of its remaining
non-executive employees.  Terra has notified its lender, Canadian
Western Bank, and both the Alberta Energy Regulator and the British
Columbia Oil and Gas Commission of the shutting-in by Terra of its
operated/licensed wells and facilities in both Alberta and British
Columbia and that Terra no longer has the financial capability to
carry on its operations.

The cost of operations, including processing and transportation of
commodities, field labor and production costs, royalties, and
administrative expenses, exceed gross revenues at current commodity
pricing levels.  The Company's lender has declined to provide
further financial support to Terra and there is no other means of
financing available to the Company at this time.  As such, Terra no
longer has the financial capability to carry on its operations.
The Company has been actively engaged, with financial advisors, in
an asset sales and restructuring process since September of 2015 to
monetize any or all assets and shares of the Company and to
reorganize and restructure the Company. Since commencement of the
asset sales and restructuring process began, proceeds from
completed transactions of approximately $12 million, have been
utilized to reduce the Company's indebtedness but the asset sales
process has been insufficient to satisfy all the liabilities of the
Company.  The Company's asset sales process has also been hampered
in Alberta due to the Company having a LMR rating below one.
Attempts by the Company to reorganize or restructure the Company
have also been unsuccessful.

The directors have determined that Terra's business is no longer
viable, that Terra's realizable asset value is less than its
current debt, that in the present economic environment and in
Terra's present circumstances with its current asset base, Terra
cannot refinance or recapitalize its operations, that Terra no
longer has the financial capability to carry on its operations and
that no further business can be conducted by Terra.  As result,
Terra disclosed that the directors and officers of Terra have
resigned.

Headquartered in Calgary, Canada, Terra Energy Corp. --
http://www.terraenergy.ca-- is a junior oil and gas exploration
development and production company engaged in the exploration for,
and development and production of, natural gas and oil in Western
Canada.  Its operates through two segments: the conventional
operations, which make up almost all of Terra's production, and the
Montney resource play in northeastern British Columbia, where Terra
owns a dominant land position in both the unconventional Montney
gas and gas liquids and the nascent unconventional Montney
condensate and shale oil play. Production from Alberta accounts for
most of Terra Energy's oil and natural gas liquids (NGL) content.
Cecil and North Boundary made up the bulk of the Company's oil
production while most of the NGL's were produced in Worsely.  Key
producing regions in British Columbia include Stoddart, Sunrise,
Boudreau, Tower and Wilder.


THEA BOWMAN: S&P Puts Bonds' 'B-' Rating on CreditWatch Negative
----------------------------------------------------------------
Standard & Poor's Ratings Services placed its 'B-' rating on the
Indiana Finance Authority's educational facilities revenue bonds,
issued on behalf of the Drexel Foundation for Educational
Excellence for the benefit of Thea Bowman Leadership Academy (TBLA)
on CreditWatch with negative implications.

"The CreditWatch negative reflects our view of the school's
impending charter expiration as of June 30, 2016, and nonrenewal
from its authorizer, Ball State University," said Standard & Poor's
credit analyst Ashley Ramchandani.  Management reports that it is
seeking an alternative charter arrangement, and has applied for
authorization from the Indiana Charter School Board.  S&P
understands that management anticipates final notification
regarding new charter authorization within the next 30 days.
Currently, a lower rating is precluded by the potential for TBLA to
secure an alternative charter, despite the current non-renewal.
Failure to secure a new charter or to make debt service payments
within the next 90 days could result in a downgrade, potentially by
multiple notches.  Furthermore, if the school's coverage weakens
below covenant levels, such that bondholders accelerate the debt,
the rating would likely face further downward pressure.

"We could also consider further negative rating actions if
enrollment weakens such that operating margins deteriorate or
liquidity weakens from current levels," said Ms. Ramchandani.  A
revision to a stable outlook would require a longer term resolution
of the school's charter status and stabilization of key credit
factors, including enrollment, management, and governance, as well
as strengthened operations.


USA DISCOUNTERS: Needs Until June 20 to File Ch. 11 Plan
--------------------------------------------------------
USA Discounters, Ltd., et al., filed the second motion asking the
U.S. Bankruptcy Court for the District of Delaware to further
extend their exclusive plan filing period through and including
June 20, 2016, and their exclusive solicitation period through and
including August 18, 2016.

According to the Debtors' counsel, Laura Davis Jones, Esq., at
Pachulski Stang Ziehl & Jones LLP, in Wilmington, Delaware, USA
Discounters is the subject of ongoing investigations undertaken by
various state attorney general offices, a large number of which
have organized a multi-state group to conduct discovery and engage
in discussions with the Debtors.  In addition, Colorado regulators
have initiated litigation in Colorado in lieu of participating in
the multi-state investigation.  Ms. Jones says USA Discounters is
cooperating with these investigations, including by responding to
document production requests and by making available for
depositions certain of its current and former officers and
employees.  The Debtors and their retained professionals are
engaged in ongoing discussions with the attorneys general.  Indeed,
as a show of good faith, the Debtors voluntarily agreed to an
extension of the deadline for filing proofs of claims in these
Cases for all attorneys general, Ms. Jones points out.

Ms. Jones tells the Court that the Debtors have drafted a Chapter
11 plan and disclosure statement, and copies of the draft plan have
been furnished to and reviewed by the Prepetition Agent and the
Committee.  On January 15, 2016, representatives of the Debtors,
the Committee, and the secured lenders participated in in-person
meetings regarding the draft chapter 11 plan and related
settlements.  The Debtors have spent significant time negotiating
and refining the terms of their draft plan, but resolution of the
ongoing governmental investigations remains a key threshold issue
for the successful prosecution of a plan in these Cases, Ms. Jones
adds.

Any response or objection to the Extension Motion must be filed on
or before April 8.  A final hearing to consider approval of the
Extension Motion will be held on April 26.

The Debtors are also represented by James E. O'Neill, Esq., and
Colin R. Robinson, Esq., at Pachulski Stang Ziehl & Jones LLP, in
Wilmington, Delaware; and Lee R. Bogdanoff, Esq., Michael L.
Tuchin, Esq., Whitman L. Holt, Esq., and Sasha M. Gurvitz, Esq., at
Klee, Tuchin, Bogdanoff & Stern LLP, in Los Angeles, California.

                      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.


VALEANT PHARMA: Struggles Could Lead Company to Crumble
-------------------------------------------------------
Robert Cyran, writing for The New York Times' DealBook, reported
that Valeant Pharmaceuticals International's fractured board of
directors and its $30 billion of debt could lead the company to
crumble.

According to the DealBook, the struggling drug maker has uncovered
accounting impropriety, it said on March 21.  It is replacing its
chief executive, J. Michael Pearson, but Howard B. Schiller, the
company's former chief financial officer, has refused to quit as a
director, the DealBook related.

The investor William A. Ackman will join Valeant's board, the
DealBook added.  His hedge fund, Pershing Square Capital
Management, which owns about 9 percent of Valeant's stock, now has
two directors, the DealBook noted.  Another activist hedge fund,
ValueAct Capital, also has a nominee on the board.

The DealBook noted that Valeant's indebtedness stems from the
serial acquisition of sometimes mediocre assets at inflated prices,
partly in a quest by senior executives to achieve aggressive
targets -- at any cost, it now seems.  If anything, Valeant will
have to sell assets to reduce debt, the DealBook said.

Sam Goldfarb and Mike Cherney, writing for Dow Jones' Daily
Bankruptcy Review, reported that after stock investors drove down
its share price last week, Valeant now finds its fate in the hands
of its debtholders.

The DBR report related that Valeant said it would begin talks with
its loan investors, as it faces a potential default on its debt if
it can't file its 2015 annual report, or 10-K, by late April.
People familiar with the matter told DBR that conversations through
bankers have already begun, as Valeant tries to persuade lenders to
give it more time before they can demand early repayment.

                About Valeant Pharmaceuticals

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.

Valeant on March March 15 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.

                        *     *     *

The Troubled Company Reporter, on March 21, 2016, reported that
Standard & Poor's Ratings Services placed its ratings on Valeant
Pharmaceuticals International Inc., including the 'B+' corporate
credit rating, the 'BB' rating on the senior secured debt, and the
'B-' rating on the senior unsecured debt, on CreditWatch with
negative implications.  The recovery rating on the secured debt is
'1' reflecting S&P's expectation for very high (90%-100%) recovery
on that debt in the event of a default.  The recovery rating on the
unsecured debt is '6' reflecting S&P's expectation for negligible
(0%-10%) recovery on that debt in the event of a default.

The TCR, on March 17, 2016, reported that Moody's Investors Service
downgraded the ratings of Valeant Pharmaceuticals International,
Inc. and subsidiaries, including the Corporate Family Rating to B1
from Ba3, the Probability of Default Rating to B1-PD from Ba3-PD,
the senior secured rating to Ba2 (LGD2) from Ba1 (LGD2) and the
senior unsecured rating to B2 (LGD5) from B1 (LGD5).  These ratings
remain under review for further downgrade, continuing a rating
review initiated on  Feb. 29, 2016.  Moody's also lowered the
Speculative Grade Liquidity Rating to SGL-3 from SGL-2.


VANGUARD NATURAL: Moody's Cuts Corporate Family Rating to 'Caa3'
----------------------------------------------------------------
Moody's Investors Service, downgraded Vanguard Natural Resources,
LLC's Corporate Family Rating (CFR) to Caa3 from B3, Probability of
Default Rating to Caa3-PD from B3-PD and the ratings on its senior
unsecured notes to Ca from Caa2. The Speculative Grade Liquidity
Rating remains SGL-4. This concludes the ratings review commenced
January 21, 2016. The rating outlook is negative.

"The downgrade of Vanguard's ratings reflects our expectations that
the company's credit metrics will deteriorate in 2017 and that it
will have weak liquidity throughout 2016, despite generating
positive free cash flow stated James Wilkins, a Moody's Vice
President - Senior Analyst."

The following summarizes the ratings activity.

Issuer: Vanguard Natural Resources, LLC

Ratings Downgraded:

-- Corporate Family Rating, Caa3 from B3

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

--  Senior Unsecured Notes, Ca (LGD6) from Caa2 (LGD5)

Ratings affirmed:

-- Speculative Grade Liquidity Rating, SGL-4

Outlook - Negative

RATINGS RATIONALE

"Vanguard's Caa3 CFR reflects its weak liquidity, high leverage and
our expectation that its credit metrics will deteriorate in 2017,
even if it is successful in selling its SCOOP/STACK assets, due to
weak commodity prices and a decline in hedged volumes from 2016 to
2017. The company benefits from having a significant portion of its
production hedged such that we expect it to produce positive free
cash flow in 2016 and 2017, but free cash flow will not be
sufficient to meaningfully reduce leverage. Natural gas, which
accounted for 64% of fourth quarter 2015 production, is 78% hedged
for 2016 at a weighted average price of approximately $4.15 per
mmBtu, but only 49% hedged for 2017 at a weighted average price of
approximately $3.84 per mmBtu. Moody's expects the company's
retained cash flow to debt will be above 10% in 2016 and around
6%-8% in 2017, assuming it successfully sells its SCOOP/STACK
assets. To address its need for cash, the company is in the process
of selling its SCOOP/STACK assets, but has yet to announce a sales
agreement. We expect the asset sale will improve the company's
liquidity, but will not result in a meaningful improvement in
credit metrics. The company had $2.3 billion of balance sheet debt
as of year-end 2015 and interest expense per Mcfe was $0.61 in the
fourth quarter 2015, which is high at current low natural gas
prices."

The SGL-4 Speculative Grade Liquidity Rating reflects Vanguard's
weak liquidity. The company had borrowings of $1.69 billion and
availability of $107.5 million as of 31 December 2015 under its
revolving credit facility. The borrowing base was $1.8 billion
following the fall redetermination and closing of the Eagle Rock
Energy Partners and LRR Energy acquisitions. Moody's expects the
revolver's borrowing base will be reduced during the Spring 2016
redetermination, potentially to a level below outstanding
borrowings such that the company would have no available borrowing
capacity and would have to repay the deficiency to reduce
borrowings to the new borrowing base level. The company is required
to repay any deficiency in six equal monthly payments. "We expect
the asset sale will allow it to reduce revolver borrowings
sufficiently to remain in compliance with its credit agreement
terms." However, even with the sale of assets, elimination of
distributions and generation of positive free cash flow in 2016,
the company expects its liquidity to remain low throughout 2016.

The company's revolving credit facility, which matures on 16 April
2018, has two financial covenants -- a secured debt to EBITDA ratio
of no more than 5.25x in 2016 and 4.5x starting in 2017 and beyond
(4.28x actual as of 31 December 2015, before its latest
acquisitions), as well as a current ratio of no less than 1.0x
(1.12x actual as of 31 December 2015). The company will be
challenged to maintain compliance with the covenants if the low
commodity prices persist.

The negative outlook reflects Vanguard's weak liquidity and the low
commodity price environment. A rating downgrade is likely if
Vanguard's liquidity deteriorates further or retained cash flow to
debt falls below 5%. A move to a stable outlook or positive rating
action could be considered if Vanguard improves its liquidity such
that Moody's expects it to have adequate liquidity for the next
12-18 months, the company materially reduces debt and it is capable
of generating positive free cash flow without the benefit of
hedges.

Vanguard Natural Resources, LLC is an independent exploration and
production company headquartered in Houston, Texas.


VARIANT HOLDING: Greenberg Traurig Okayed as Transactional Counsel
------------------------------------------------------------------
The Hon. Brendan L. Shannon of the U.S. Bankruptcy Court for the
District of Delaware authorized debtor subsidiaries of Variant
Holding Company, LLC, et al., to employ Greenberg Traurig LLP as
special transactional counsel.

GT was previously retained by Variant as special litigation counsel
in connection with litigation commenced by BPC VHI, L.P., Beach
Point Total Return Master Fund, L.P., Beach Point Distressed Master
Fund, L.P. in the Superior Court of the State of California for the
County of Los Angeles, captioned BPC VHI, L.P., et al v. Variant
Holding Company, LLC, et al., Case No. BC 546153.

The State Court Action was dismissed pursuant to the settlement
with the Beach Point Funds as set forth in the Beach Point
Settlement Agreement approved through the order entered on
Nov. 3, 2014.

GT, as special transactional counsel for the Subsidiary Debtors,
will perform services relating to the sales of certain of the
properties, including, but not limited to, drafting purchase and
sale agreements for the sales of the then non-debtor subsidiaries,
certain of which have already been sold and closed (i.e., the sales
of the three properties in Las Vegas in the amount of
$40 million) on March 26, 2015, following the Court's approval.

GT will coordinate its services with the Subsidiary Debtors'
general bankruptcy counsel at Pachulski Stang Ziehl & Jones LLP in
a manner that will benefit the estates and avoid any duplication of
effort.

GT's hourly rates are:

   a. Shareholders                        $200 - $1,235
   b. Of Counsel                          $310 - $1,250
   c. Associates                          $100 - $765
   d. Paralegals                           $85 - $410

To the best of the Debtors' knowledge, GT does not hold an interest
adverse to the estate with respect to the subject matter of its
retention.

GT intends to make reasonable effort to comply with the U.S.
Trustee'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 as of
Nov. 1, 2013.

                       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: Seeks to Extend Removal Period to July 11
----------------------------------------------------------
Variant Holding Company, LLC, and its debtor subsidiaries ask the
U.S. Bankruptcy Court for the District of Delaware to further
enlarge the period within which they may remove actions through and
including July 11, 2016, without prejudice to their right to seek
additional extensions.

The current extended deadline for the Removal Period as to Variant
is March 22, 2016.  The current deadline for the Removal Period as
to the Subsidiary Debtors is April 11, 2016.

Richard M. Pachulski, Esq., at Pachulski Stang Ziehl & Jones LLP,
in Wilmington, Delaware -- rpachulski@pszjlaw.com -- says that the
extension requested applies to both Variant and the Subsidiary
Debtors to avoid having to track two separate deadlines for the
Removal Period.

The Debtors believe the extension requested will provide them with
sufficient time to make well informed decisions concerning the
removal of any actions and will ensure that their rights provided
by Section 1452 of the Judiciary and Judicial Procedure can be
exercised in an appropriate manner.

                      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.


VENOCO INC: Files Chapter 11 Petition to Facilitate Restructuring
-----------------------------------------------------------------
Venoco, Inc. on March 18 disclosed that it has reached an agreement
with its senior lenders to reduce the company's debt load and
restructure the balance sheet.  Under the terms of the agreement,
these lenders have agreed to support a restructuring transaction
that will eliminate approximately $1 billion of debt from Venoco's
balance sheet and position the company for long-term success.

To facilitate this financial restructuring, Venoco on March 18 has
filed a voluntary petition for reorganization under Chapter 11 of
the Bankruptcy Code in the United States Bankruptcy Court for the
District of Delaware.

"[Fri]day's announcement represents another significant step in our
ongoing efforts to address the challenges before us and position
the company for long-term success," said Mark DePuy, Venoco's CEO.
"After carefully evaluating our options, we have determined that
the agreement to restructure our balance sheet and reduce our debt
represents the best way to strengthen our finances and position
ourselves for the future."

"While we continue to be in a strong cash position, the declining
price of oil and the ongoing closure of Plains All American
pipeline 901 continue to be serious problems.  With this agreement,
Venoco will be in a much stronger position to withstand these
challenges and others that may follow," Mr. DePuy continued.  "Both
during and after this process, Venoco will maintain the same
commitment to safety, environmental protection and the communities
in which we operate.  Venoco is and continues to be a remarkable
company with award winning operations, excellent employees, and
robust energy-producing assets."

The company has sufficient liquidity to continue its normal oil and
gas activities and meet its ongoing financial and regulatory
obligations.  Upon approval by the Bankruptcy Court and
satisfaction of customary conditions, the company's existing
liquidity and generated cash from ongoing operations will be used
to support the company during the restructuring process.

Venoco founder Tim Marquez will remain Executive Chairman during
the restructuring process.  The company's senior lenders have
retained him to provide leadership and strategic counsel to the
company after the company emerges from restructuring.

"I truly love the company we built in and around Santa Barbara
County and its community," said
Mr. Marquez.  "It is the employees of Venoco that live in and
contribute to the community that make Venoco a great company.  It
is unfortunate that a third party pipeline spill has impacted
Venoco, but this process will make it stronger and ensure its
continued contributions to the Santa Barbara County community.
This process will significantly strengthen the financial
wherewithal of an already great operational Company.  I am
especially proud that Venoco, directly and indirectly, has donated
close to $150,000,000 to communities where it does business.  I
look forward to being a part of its success going forward."

Venoco, Inc. -- http://www.venocoinc.com-- is an independent
energy company primarily focused on the acquisition, exploration
and development of oil and natural gas properties.


VENOCO INC: Wants to Pay $250,000 Critical Vendor Claims
--------------------------------------------------------
Venoco, Inc., and its debtor affiliates seek permission from the
Bankruptcy Court to pay prepetition claims of certain critical
vendors and service providers in an aggregate amount not to exceed
$250,000.  The Debtors intend to condition those payments on an
agreement by the relevant Critical Vendor that it will continue to
provide services to them on a go-forward basis on favorable terms.

"The Debtors strongly believe that the uninterrupted provision of
services on Customary Trade Terms is imperative to [their] ongoing
operations and viability..." said Erin R. Fay, Esq., at Morris,
Nichols, Arsht & Tunnel LLP, attorney for the Debtors.  "The
cessation of Critical Vendors' services would not only negatively
impact the Debtors financially, it would also compromise the
Debtors' safe operations," she maintained.

The Critical Vendors' services to the Debtors include, but are not
limited to, energy and production consultation services,
environmental and emergency spill response services, and services
that ensure the safe operation of the Debtors' wells.

According to the Debtors, while they hope and expect to be able to
ensure a continuing post-petition provision of services through
consensual negotiation with the Critical Vendors, they recognize
that their fiduciary duties bind them to consider and plan for
vendors that refuse to provide future services unless their
prepetition claims are paid.

The Debtors said they have identified those parties that they
believe are Critical Vendors and will provide the United States
Trustee, the agent for the Debtors' proposed debtor-in-possession
credit facility, and any statutorily appointed committee with a
list of proposed Critical Vendors, which list shall be maintained
by these parties on a confidential basis. However, to minimize the
amount of payments required, the Debtors request authority to not
publicly identify Critical Vendors because identifying the Critical
Vendors now would likely cause all those providers to demand
payment in full.

                            About Venoco

Headquartered in Denver, Colorado, Venoco, Inc., Denver Parent
Corporation, TexCal Energy (LP) LLC, Whittier Pipeline Corporation,
TexCal Energy (GP) LLC, Ellwood Pipeline, Inc., and TexCal Energy
South Texas, L.P. are independent energy companies primarily
focused on the acquisition, exploration, production and development
of oil and gas properties in California.  As of the Petition Date,
the Debtors held interests in approximately 72,053 net acres in
California, of which 48,836 are developed.

Venoco, Inc., et al., filed Chapter 11 bankruptcy petitions (Bankr.
D. Del. Proposed Lead Case No. 16-10655) on March 18, 2016.  Scott
M. Pinsonnault signed the petition as chief financial officer and
chief restructuring officer.

The Debtors estimated assets in the range of $100 million to $500
million and debts in the range of $500 million to $1 billion.

The Debtors have hired Morris, Nichols, Arsht & Tunnell, LLP and
Bracewell LLP as counsel; PJT Partners LP as financial advisor;
Deloitte LLP as restructuring advisor; Ernst & Young LLP as
independent auditor and tax advisor; and BMC Group, Inc. as notice,
claims and balloting agent.

Hon. Kevin Gross has been assigned the cases.


VERITEQ CORP: Incurs $12.1 Million Net Loss in Third Quarter
------------------------------------------------------------
Veriteq Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $12.09 million on $4,000 of sales for the three months ended
Sept. 30, 2015, compared to a net loss of $893,000 on $44,000 of
sales for the same period in 2014.

For the nine months ended Sept. 30, 2015, the Company reported a
net loss of $17.70 million on $287,000 of sales compared to a net
loss of $1.82 million on $139,000 of sales for the nine months
ended Sept. 30, 2014.

As of Sept. 30, 2015, the Company had $1.08 million in total
assets, $18.56 million in total liabilities, $1.84 million in
series D preferred stock, and a $19.33 million total stockholders'
deficit.

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

                       http://is.gd/4DziMc

                          About VeriTeQ

VeriTeQ (formerly known as Digital Angel Corporation) develops
innovative, proprietary RFID technologies for implantable medical
device identification, and dosimeter technologies for use in
radiation therapy treatment.  VeriTeQ --
http://www.veriteqcorp.com/-- offers the world's first FDA        
cleared RFID microchip technology that can be used to identify
implantable medical devices, in vivo, on demand, at the point of
care.  VeriTeQ's dosimeters provide patient safety mechanisms
while measuring and recording the dose of radiation delivered to a
patient in real time.

Veriteq reported a net loss of $3.91 million on $151,000 of sales
for the year ended Dec. 31, 2014, compared to a net loss of $18.2
million on $18,000 of sales for the year ended Dec. 31, 2013.

EisnerAmper 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 net losses, and at Dec. 31, 2014, had negative working
capital and a stockholders' deficit.  These events and conditions
raise substantial doubt about the Company's ability to continue as
a going concern.


WHISKEY ONE: Court Denies FAIRMD's Bid to Strike DIP Line
---------------------------------------------------------
Judge David E. Rice of the U.S. Bankruptcy Court for the District
of Maryland, Northern Division, entered an order holding that to
the extent Whiskey One Eight, LLC's second line supplementing its
motion seeking authority to obtain DIP financing seeks relief, any
and all relief is denied without prejudice to the right of the
Debtor to assert any of the rights, claims, or defenses asserted by
other means.

Judge Rice also ordered that FAIRMD, LLC's the Motion to Strike
Second Line Supplementing Motion is denied without prejudice to the
right of FAIRMD to assert any of the rights, claims, or defenses by
other means.

The dispute involves the Debtor's Second Line, which informed the
Court that after entry of the the Interim DIP Order, the Debtor was
not able to complete the proposed financing transaction with Forman
Capital, LLC, as approved by the court.  As a result, the Debtor
negotiated an alternate financing transaction with Gibraltar
Capital and Asset Management, LLC.

Judge Rice opined that the Line is not a procedural means by which
the Debtor may obtain any relief from the Court contrary to
FAIRMD's suggestion that the Line implies relief perhaps available
to, or that might be sought by, the debtor in the future.

Although the Court notes that the Debtor states in the Line that:
the terms of the Gibraltar financing transaction "are similar and,
in some instances, superior to the terms approved by the Court," it
"will seek entry of a final order authorizing the Debtor to obtain
its postpetition financing," and "it is not necessary for it to
obtain interim approval of Gibraltar as DIP lender," these things
are not matters that the Court can decide at this time as these are
merely informational as the Debtor asserts in its Opposition.

The Debtor, in response to FAIRMD's objection, stated that FAIRMD
simply inquired rather than file the Motion to Strike based on
inaccurate factual speculation, the Debtor would have confirmed for
them that the Debtor paid the required deposit to Gibraltar on Feb.
19, 2016, and that Gibraltar's due diligence has been proceeding
apace since even before that date.

Whiskey One Eight, LLC is represented by:

     Lawrence J. Yumkas, Esq.
     Corinne E. Donohue, Esq.
     YUMKAS, VIDMAR, SWEENEY & MULRENIN, LLC
     10211 Wincopin Circle, Suite 500
     Columbia, Maryland 21044
     Telephone: (443) 569-0758
     Email: lyumkas@yvslaw.com
            cdonohue@yvslaw.com

        About Whiskey One

Whiskey One Eight, LLC, filed a Chapter 11 bankruptcy petition
(Bankr. D. Md. Case No. 15-19885) on July 15, 2015.  Andrew Zois
signed the petition as managing member.  The Debtor disclosed total
assets of $18,008,600 and total liabilities of $5,100,057 as of the
Chapter 11 filing.

Lawrence Joseph Yumkas, Esq., at Yumkas, Vedmar & Sweeney, LLC as
the Debtor's counsel.  Judge David E. Rice presides over the case.

The Debtor, on Feb. 10, 2016, filed with the U.S. Bankruptcy Court
for the District of Maryland, Baltimore Division, a plan of
reorganization, which impairs all general unsecured claims.  A
full-text copy of the Plan is available at
http://bankrupt.com/misc/WOEplan0210.pdf


ZUCKER GOLDBERG: Examiner Retains Cole Schotz as Counsel
--------------------------------------------------------
Donald H. Steckroth, examiner for Zucker, Goldberg & Ackerman, LLC,
asks the U.S. Bankruptcy Court for the District of New Jersey for
permission to retain Cole Schotz P.C. as his counsel.

Cole Schotz will, among other things:

   a) take all necessary actions to assist and advise the examiner
with respect to the discharge of his duties and responsibilities
under the examiner order;

   b) assist the examiner in preparing pleadings and applications
as may be necessary in the discharge of the examiner's duties; and

   c) represent the examiner at all hearings and other proceedings
before the Court.

Cole Schotz will maintain detailed, contemporaneous time records
and will request reimbursement for actual and necessary expenses
incurred.  The current hourly rates of Cole Schotz members,
associates and paralegals are:

      Members                          $425 - $850
      Special Counsel                  $410 - $520
      Associates                       $195 - $450
      Paralegals                       $165 - $270
      Litigation Support Specialists   $275 - $375

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

The firm can be reached at:

         Donald H. Steckroth, Esq.
         Felice R. Yudkin, Esq.
         COLE SCHOTZ P.C.
         Court Plaza North
         25 Main Street
         P.O. Box 800
         Hackensack, NJ 07602-800
         Tel: (201) 489-3000
         Fax: (201) 489-1536
         E-mail: fyudkin@coleschotz.com
                 dsteckroth@coleschotz.com

                      About Zucker Goldberg

Formed in 1923 as Zucker & Goldberg, the law firm Zucker, Goldberg
& Ackerman, LLC, was primarily engaged in the representation of
lenders and secured parties in foreclosure matters, insolvency
proceedings and related matters.  The sole members of ZGA are
Michael S. Ackerman, Esq. and Joel Ackerman, Esq. Michael S.
Ackerman is the managing member of the firm.  ZGA's primary offices
are in Mountainside, New Jersey.

Zucker, Goldberg & Ackerman, LLC, sought Chapter 11 protection
(Bankr. D.N.J. Case No. 15-24585) in Newark, New Jersey, on
Aug. 3, 2015, to complete the orderly liquidation of the business.

The case is assigned to Judge Christine M. Gravelle.

The Debtor disclosed total assets of $11.5 million and total
liabilities of $53.3 million as of June 30, 2015.

ZGA tapped Wasserman, Jurista & Stolz, P.C. as bankruptcy counsel;
Brown, Moskowitz & Kallen, P.C., as special litigation counsel;
Genova Burns as labor counsel; and BMC Group, Inc., as noticing
and balloting agent.

On Aug. 17, 2015, an Official Committee of Unsecured Creditors was
appointed by the Office of the United States Trustee.  The
Committee on Oct. 15, 2015, won approval to retain McCarter &
English, LLP ("McCarter") to serve as Committee counsel, effective
as Aug. 14, 2015.



[*] Foreign Central Banks Sold $57.2B in U.S. Debt in January
-------------------------------------------------------------
"Foreign governments are dumping U.S. debt like never before," says
Matt Egan, writing for CNN Money.  The report says foreign central
banks and government institutions sold $57.2 billion of U.S.
Treasury debt and other notes in January -- up from $48 billion in
December and the highest monthly tally on record going back to 1978
-- in an effort to raise funds to stimulate their own economies
amid the global growth slowdown and drop in oil prices.  This is
part of a broader trend that gathered steam last year when central
banks sold a record $225 billion of U.S. debt, CNN says.  A copy of
the report is available at http://is.gd/sahx4s CNN cited figures
released by the U.S. Treasury Department on March 15.


[*] Moody's Says HY Investors Demands Protection as Market Tightens
-------------------------------------------------------------------
Signs are emerging that investors in the market for
speculative-grade debt want better covenant protection as financing
conditions become tighter, said Moody's Investors Service.

Two high-yield bonds sales in February were only completed after
the issuers tightened the covenants significantly, more evidence
that the market has reached a turning point, according to the
report "North American High-Yield Bond Covenants: Investors Push
Back on Bond Covenants as High-Yield Market Tightens."

Both The Manitowoc Company (B2 stable) and Solera, LLC (B2 stable)
had to substantially improve the protections they were offering
investors in order to sell their bonds.

"This is an early sign that, as the high-yield credit market
tightens, emboldened investors can demand and receive better
covenant protections from lower-rated issuers," said Danny Gao, an
Associate Analyst at Moody's.

Moody's scores high-yield bond covenants on a scale of 1.0 to 5.0,
with 1.0 denoting the strongest protections and 5.0 the weakest.

Manitowoc's original documents had an overall covenant quality
score of 3.12, but the score improved to 2.02 after the company
reworked the bonds in response to investor demands. Similarly,
Solera was forced to adjust its bonds, raising its covenant score
to 3.52 from 4.24.

Both companies had to shrink their so-called baskets and use more
conservative fixed-dollar caps, limiting their ability to incur
additional debt, leak cash and make risky investments. The
companies also agreed to cap cost savings add-backs to their EBITDA
calculations, lessening their ability to manipulate ratio
calculations.


[*] Moody's Says Speculative-Grade Chemical Firms to Face Challenge
-------------------------------------------------------------------
Deteriorating conditions in the speculative-grade debt market are
likely to increase refinancing risk for US speculative grade
chemical companies, prompting some issuers to restructure their
debt, says Moody's Investors Service.

Almost half of the more than 100 rated North American chemical
companies, carrying combined debt of about $42 billion, are rated
in the B- and Caa-categories. The group has grown significantly in
recent years as larger companies have divested businesses and
private-equity sponsors increased their participation in the
industry.

Liquidity for rated chemical companies has weakened since July
2015, when Moody's last published the refinancing risk report on
the sector. Chemical companies have been hit by weaker demand from
the oil and commodity industries, factors that contributed to the
revision of the sector outlook to negative from stable, while at
the same time market conditions for speculative-grade debt have
weakened.

"Recent issuance and overall market trends suggest it will be more
difficult than previously anticipated for some speculative grade
chemical companies to secure financing at affordable levels," said
Ben Nelson, a Vice President and Senior Analyst at Moody's.

A total of seven B-rated chemical companies and two Caa-rated
chemical companies have combined debt of about $5 billion maturing
in 2017 and 2018. The credit profiles of most of them have
deteriorated since their initial ratings, according to the report
"U.S. Chemical Industry: Refinancing Risk Intensifying for Select
High-Yield Chemical Companies."

American Gilsonite (Caa2, negative) and Hexion (Caa1, negative)
both have meaningful debt maturities in 2017. Moody's expects that
both will try to restructure their debt in the near term. PQ
Corporation is also becoming more vulnerable (B3 stable). The
company has maturities in 2017 and has not completed the merger
with Eco Services it said it planned to close in the fourth quarter
of 2015.

"While we do have some concerns, the majority of B-rated chemical
companies do not face debt maturities until after 2018, a
consequence of significant refinancing activity up through the
first half of 2015," added Nelson.


[*] Temporary Bankruptcy Judgeships Urged to Be Made Permanent
--------------------------------------------------------------
The Judicial Conference of the United States March 15 authorized
the Director of the Administrative Office of the United States
Courts to seek legislation to preserve temporary bankruptcy
judgeships that will lapse on May 25, 2017, Diane Davis, writing
for Bloomberg Brief, reported.

These judgeships are included in the March 2015 bankruptcy
judgeship recommendations the Judicial Conference transmitted to
Congress in its annual report, according to the report.

The Judicial Conference, which consists of a 26-member
policy-making body for the federal court system, wants to convert
16 temporary bankruptcy judgeships to permanent judgeships in nine
districts that have high caseloads, the report related.  These
districts have a 55 percent increase in weighted bankruptcy filings
from Dec. 31, 2006 -- the last time new bankruptcy judgeships were
authorized -- until Sept. 30, 2014, the report further related.

If legislative action isn't taken, the first bankruptcy judge
vacancy that occurs in each of the nine districts after May 25,
2017, won't be filled, the Judicial Conference said, the report
added.


[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
                                                 Total
                                                Share-      Total
                                     Total   Holders'     Working
                                    Assets      Equity    Capital
  Company          Ticker             ($MM)       ($MM)      ($MM)
  -------          ------           ------   ---------    -------
ABSOLUTE SOFTWRE   ABT2EUR EU        108.3       (42.6)     (41.9)
ABSOLUTE SOFTWRE   ALSWF US          108.3       (42.6)     (41.9)
ABSOLUTE SOFTWRE   ABT CN            108.3       (42.6)     (41.9)
ABSOLUTE SOFTWRE   OU1 GR            108.3       (42.6)     (41.9)
ADV MICRO DEVICE   AMD* MM         3,109.0      (412.0)     917.0
ADVENT SOFTWARE    ADVS US           424.8       (50.1)    (110.8)
AEROJET ROCKETDY   GCY GR          2,034.9      (145.5)     108.5
AEROJET ROCKETDY   GCY TH          2,034.9      (145.5)     108.5
AEROJET ROCKETDY   AJRD US         2,034.9      (145.5)     108.5
AK STEEL HLDG      AKS US          4,084.4      (595.6)     763.6
AK STEEL HLDG      AKS* MM         4,084.4      (595.6)     763.6
AK STEEL HLDG      AK2 TH          4,084.4      (595.6)     763.6
AK STEEL HLDG      AK2 GR          4,084.4      (595.6)     763.6
AMER RESTAUR-LP    ICTPU US           33.5        (4.0)      (6.2)
AMYLIN PHARMACEU   AMLN US         1,998.7       (42.4)     263.0
ANGIE'S LIST INC   ANGI US           174.9        (2.4)     (21.3)
ANGIE'S LIST INC   8AL TH            174.9        (2.4)     (21.3)
ANGIE'S LIST INC   8AL GR            174.9        (2.4)     (21.3)
ARCH COAL INC      ACIIQ* MM       5,106.7    (1,244.3)  (4,361.0)
ARIAD PHARM        ARIAEUR EU        546.7      (103.1)     142.9
ARIAD PHARM        APS TH            546.7      (103.1)     142.9
ARIAD PHARM        APS GR            546.7      (103.1)     142.9
ARIAD PHARM        ARIACHF EU        546.7      (103.1)     142.9
ARIAD PHARM        ARIA US           546.7      (103.1)     142.9
ARIAD PHARM        ARIA SW           546.7      (103.1)     142.9
ASPEN TECHNOLOGY   AST GR            276.4       (22.2)      (4.4)
ASPEN TECHNOLOGY   AZPN US           276.4       (22.2)      (4.4)
AUTOZONE INC       AZ5 GR          8,366.4    (1,741.3)    (784.8)
AUTOZONE INC       AZ5 QT          8,366.4    (1,741.3)    (784.8)
AUTOZONE INC       AZ5 TH          8,366.4    (1,741.3)    (784.8)
AUTOZONE INC       AZOEUR EU       8,366.4    (1,741.3)    (784.8)
AUTOZONE INC       AZO US          8,366.4    (1,741.3)    (784.8)
AVID TECHNOLOGY    AVD GR            247.9      (329.6)    (167.5)
AVID TECHNOLOGY    AVID US           247.9      (329.6)    (167.5)
AVINTIV SPECIALT   POLGA US        1,991.4        (3.9)     322.1
AVON - BDR         AVON34 BZ       3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP QT          3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP GR          3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP* MM         3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP TH          3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP CI          3,879.5    (1,056.4)     146.0
AVON PRODUCTS      AVP US          3,879.5    (1,056.4)     146.0
BARRACUDA NETWOR   7BM GR            429.9       (30.5)     (27.7)
BARRACUDA NETWOR   CUDAEUR EU        429.9       (30.5)     (27.7)
BARRACUDA NETWOR   CUDA US           429.9       (30.5)     (27.7)
BARRACUDA NETWOR   7BM QT            429.9       (30.5)     (27.7)
BENEFITFOCUS INC   BNFT US           182.1       (18.0)      18.4
BENEFITFOCUS INC   BTF GR            182.1       (18.0)      18.4
BERRY PLASTICS G   BP0 GR          7,710.0       (67.0)     646.0
BERRY PLASTICS G   BERY US         7,710.0       (67.0)     646.0
BLUE BIRD CORP     1291067D US       251.0      (121.5)       1.5
BLUE BIRD CORP     BLBD US           251.0      (121.5)       1.5
BOMBARDIER INC-B   BBDBN MM       22,903.0    (4,054.0)     282.0
BOMBARDIER-B OLD   BBDYB BB       22,903.0    (4,054.0)     282.0
BOMBARDIER-B W/I   BBD/W CN       22,903.0    (4,054.0)     282.0
BRINKER INTL       BKJ GR          1,579.9      (164.9)    (195.1)
BRINKER INTL       EAT US          1,579.9      (164.9)    (195.1)
BRP INC/CA-SUB V   DOO CN          2,445.2       (14.1)     363.3
BRP INC/CA-SUB V   BRPIF US        2,445.2       (14.1)     363.3
BRP INC/CA-SUB V   B15A GR         2,445.2       (14.1)     363.3
BUFFALO COAL COR   BUC SJ             54.9       (10.1)      (4.5)
BURLINGTON STORE   BURL US         2,580.1       (99.0)      46.4
BURLINGTON STORE   BUI GR          2,580.1       (99.0)      46.4
CABLEVISION SY-A   CVCEUR EU       6,867.3    (4,911.6)    (313.1)
CABLEVISION SY-A   CVY TH          6,867.3    (4,911.6)    (313.1)
CABLEVISION SY-A   CVY GR          6,867.3    (4,911.6)    (313.1)
CABLEVISION SY-A   CVC US          6,867.3    (4,911.6)    (313.1)
CABLEVISION-W/I    8441293Q US     6,867.3    (4,911.6)    (313.1)
CABLEVISION-W/I    CVC-W US        6,867.3    (4,911.6)    (313.1)
CAMBIUM LEARNING   ABCD US           141.4       (74.2)     (54.9)
CASELLA WASTE      CWST US           649.9       (21.6)      (8.7)
CASELLA WASTE      WA3 GR            649.9       (21.6)      (8.7)
CENTENNIAL COMM    CYCL US         1,480.9      (925.9)     (52.1)
CHARTER COM-A      CKZA TH        39,316.0       (46.0)  (1,627.0)
CHARTER COM-A      CKZA GR        39,316.0       (46.0)  (1,627.0)
CHARTER COM-A      CHTR US        39,316.0       (46.0)  (1,627.0)
CHOICE HOTELS      CZH GR            717.0      (395.9)     102.9
CHOICE HOTELS      CHH US            717.0      (395.9)     102.9
CINCINNATI BELL    CBB US          1,454.4      (298.2)     (58.8)
CINCINNATI BELL    CIB GR          1,454.4      (298.2)     (58.8)
CLEAR CHANNEL-A    CCO US          6,357.2      (569.7)     656.6
CLEAR CHANNEL-A    C7C GR          6,357.2      (569.7)     656.6
CLIFFS NATURAL R   CLF* MM         2,135.5    (1,811.6)     401.0
CLIFFS NATURAL R   CLF US          2,135.5    (1,811.6)     401.0
COGENT COMMUNICA   CCOI US           662.8       (12.3)     182.4
COGENT COMMUNICA   OGM1 GR           662.8       (12.3)     182.4
COHERUS BIOSCIEN   8C5 TH            212.4        (6.9)      91.4
COHERUS BIOSCIEN   CHRSEUR EU        212.4        (6.9)      91.4
COHERUS BIOSCIEN   8C5 GR            212.4        (6.9)      91.4
COHERUS BIOSCIEN   CHRS US           212.4        (6.9)      91.4
COLGATE-BDR        COLG34 BZ      11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CPA QT         11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CLEUR EU       11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CPA GR         11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CPA TH         11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CLCHF EU       11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CL US          11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CL* MM         11,958.0       (44.0)     850.0
COLGATE-PALMOLIV   CL SW          11,958.0       (44.0)     850.0
COMMUNICATION      CSAL US         2,542.6    (1,166.9)       -
COMMUNICATION      8XC GR          2,542.6    (1,166.9)       -
CPI CARD GROUP I   PNT CN            280.4       (86.6)      59.0
CPI CARD GROUP I   CPB GR            280.4       (86.6)      59.0
CPI CARD GROUP I   PMTS US           280.4       (86.6)      59.0
CYAN INC           YCN GR            112.1       (18.4)      56.9
CYAN INC           CYNI US           112.1       (18.4)      56.9
DELEK LOGISTICS    D6L GR            375.3       (11.0)      26.4
DELEK LOGISTICS    DKL US            375.3       (11.0)      26.4
DENNY'S CORP       DENN US           297.0       (60.6)     (65.1)
DENNY'S CORP       DE8 GR            297.0       (60.6)     (65.1)
DIRECTV            DTV US         25,321.0    (3,463.0)   1,360.0
DIRECTV            DTV CI         25,321.0    (3,463.0)   1,360.0
DIRECTV            DTVEUR EU      25,321.0    (3,463.0)   1,360.0
DOMINO'S PIZZA     EZV GR            799.8    (1,800.3)     226.7
DOMINO'S PIZZA     EZV TH            799.8    (1,800.3)     226.7
DOMINO'S PIZZA     DPZ US            799.8    (1,800.3)     226.7
DPL INC            DPL US          3,340.8       (62.2)    (453.8)
DUN & BRADSTREET   DNB1EUR EU      2,273.6    (1,105.3)       0.4
DUN & BRADSTREET   DB5 GR          2,273.6    (1,105.3)       0.4
DUN & BRADSTREET   DB5 TH          2,273.6    (1,105.3)       0.4
DUN & BRADSTREET   DNB US          2,273.6    (1,105.3)       0.4
DUNKIN' BRANDS G   DNKN US         3,197.1      (220.7)     139.0
DUNKIN' BRANDS G   2DB GR          3,197.1      (220.7)     139.0
DUNKIN' BRANDS G   2DB TH          3,197.1      (220.7)     139.0
DURATA THERAPEUT   DRTXEUR EU         82.1       (16.1)      11.7
DURATA THERAPEUT   DRTX US            82.1       (16.1)      11.7
DURATA THERAPEUT   DTA GR             82.1       (16.1)      11.7
EDGEN GROUP INC    EDG US            883.8        (0.8)     409.2
ENERGIZER HOLDIN   ENR US          1,617.5       (32.5)     639.3
ENERGIZER HOLDIN   ENR-WEUR EU     1,617.5       (32.5)     639.3
ENERGIZER HOLDIN   EGG GR          1,617.5       (32.5)     639.3
EOS PETRO INC      EOPT US             1.2       (27.9)     (29.0)
EPL OIL & GAS IN   EPA1 GR           563.6      (933.3)    (308.4)
EPL OIL & GAS IN   EPL US            563.6      (933.3)    (308.4)
ERIN ENERGY CORP   ERN SJ            376.2      (105.8)    (314.8)
EXELIXIS INC       EX9 GR            332.3      (104.3)     126.4
EXELIXIS INC       EXELEUR EU        332.3      (104.3)     126.4
EXELIXIS INC       EX9 TH            332.3      (104.3)     126.4
EXELIXIS INC       EXEL US           332.3      (104.3)     126.4
FAIRPOINT COMMUN   FRP US          1,322.5        (1.5)      (4.1)
FAIRPOINT COMMUN   FONN GR         1,322.5        (1.5)      (4.1)
FREESCALE SEMICO   FSL US          3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   1FS TH          3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   FSLEUR EU       3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   1FS GR          3,159.0    (3,079.0)   1,264.0
FREESCALE SEMICO   1FS QT          3,159.0    (3,079.0)   1,264.0
GAMCO INVESTO-A    GBL US            104.0      (276.3)       -
GAMING AND LEISU   GLPI US         2,448.2      (253.5)     (83.7)
GAMING AND LEISU   2GL GR          2,448.2      (253.5)     (83.7)
GARDA WRLD -CL A   GW CN           1,828.2      (378.3)     124.2
GARTNER INC        GGRA GR         2,174.7      (132.4)    (182.5)
GARTNER INC        IT US           2,174.7      (132.4)    (182.5)
GCP APPLIED TECH   GCP US            961.6      (224.1)     217.6
GCP APPLIED TECH   43G GR            961.6      (224.1)     217.6
GENTIVA HEALTH     GHT GR          1,225.2      (285.2)     130.0
GENTIVA HEALTH     GTIV US         1,225.2      (285.2)     130.0
GLG PARTNERS INC   GLG US            400.0      (285.6)     156.9
GLG PARTNERS-UTS   GLG/U US          400.0      (285.6)     156.9
GOLD RESERVE INC   GRZ CN             15.0       (32.3)     (42.5)
GOLD RESERVE INC   GDRZF US           15.0       (32.3)     (42.5)
GOLD RESERVE INC   GOD GR             15.0       (32.3)     (42.5)
GRAHAM PACKAGING   GRM US          2,947.5      (520.8)     298.5
GYMBOREE CORP/TH   GYMB US         1,242.0      (386.5)      30.8
H&R BLOCK INC      HRB GR          2,874.0      (536.7)     631.6
H&R BLOCK INC      HRB TH          2,874.0      (536.7)     631.6
H&R BLOCK INC      HRB US          2,874.0      (536.7)     631.6
H&R BLOCK INC      HRBEUR EU       2,874.0      (536.7)     631.6
HCA HOLDINGS INC   HCAEUR EU      32,744.0    (6,046.0)   3,716.0
HCA HOLDINGS INC   2BH GR         32,744.0    (6,046.0)   3,716.0
HCA HOLDINGS INC   2BH TH         32,744.0    (6,046.0)   3,716.0
HCA HOLDINGS INC   HCA US         32,744.0    (6,046.0)   3,716.0
HECKMANN CORP-U    HEK/U US          531.3       (38.3)    (461.5)
HERBALIFE LTD      HLF US          2,477.9       (53.5)     541.9
HERBALIFE LTD      HOO GR          2,477.9       (53.5)     541.9
HERBALIFE LTD      HLFEUR EU       2,477.9       (53.5)     541.9
HEWLETT-PACKA-WI   HPQ-W US       25,517.0    (4,909.0)  (1,606.0)
HOVNANIAN-A-WI     HOV-W US        2,552.7      (143.1)   1,501.0
HP COMPANY-BDR     HPQB34 BZ      25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQCHF EU      25,517.0    (4,909.0)  (1,606.0)
HP INC             7HP GR         25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ TE         25,517.0    (4,909.0)  (1,606.0)
HP INC             7HP TH         25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ SW         25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ CI         25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ US         25,517.0    (4,909.0)  (1,606.0)
HP INC             HPQ* MM        25,517.0    (4,909.0)  (1,606.0)
HP INC             HWP QT         25,517.0    (4,909.0)  (1,606.0)
HUGHES TELEMATIC   HUTCU US          110.2      (101.6)    (113.8)
IDEXX LABS         IX1 GR          1,475.0       (84.0)     (35.1)
IDEXX LABS         IDXX US         1,475.0       (84.0)     (35.1)
IDEXX LABS         IX1 TH          1,475.0       (84.0)     (35.1)
IMMUNOGEN INC      IMU GR            251.6       (16.7)     179.3
IMMUNOGEN INC      IMU TH            251.6       (16.7)     179.3
IMMUNOGEN INC      IMGN US           251.6       (16.7)     179.3
INFOR US INC       LWSN US         6,778.1      (460.0)    (305.9)
INNOVIVA INC       INVA US           424.1      (342.6)     200.8
INNOVIVA INC       HVE GR            424.1      (342.6)     200.8
INSTRUCTURE INC    1IN GR             64.2       (15.3)     (15.5)
INSTRUCTURE INC    INST US            64.2       (15.3)     (15.5)
INTERNATIONAL WI   ITWG US           325.1       (11.5)      95.4
INVENTIV HEALTH    VTIV US         2,152.7      (771.1)     124.3
IONIX TECHNOLOGY   IINX US             0.0        (0.0)      (0.0)
IPCS INC           IPCS US           559.2       (33.0)      72.1
ISTA PHARMACEUTI   ISTA US           124.7       (64.8)       2.2
J CREW GROUP INC   JCG US          1,516.3      (769.0)      91.7
JACK IN THE BOX    JACK US         1,273.0       (60.1)    (103.2)
JACK IN THE BOX    JBX GR          1,273.0       (60.1)    (103.2)
JACK IN THE BOX    JACK1EUR EU     1,273.0       (60.1)    (103.2)
JUST ENERGY GROU   1JE GR          1,274.3      (673.6)     (97.6)
JUST ENERGY GROU   JE CN           1,274.3      (673.6)     (97.6)
JUST ENERGY GROU   JE US           1,274.3      (673.6)     (97.6)
KEMPHARM INC       KMPH US            55.7       (10.1)      45.7
KEMPHARM INC       1GD GR             55.7       (10.1)      45.7
KOPPERS HOLDINGS   KO9 GR          1,125.4       (12.4)     163.8
KOPPERS HOLDINGS   KOP US          1,125.4       (12.4)     163.8
L BRANDS INC       LTD TH          8,493.0      (258.0)   2,281.0
L BRANDS INC       LB US           8,493.0      (258.0)   2,281.0
L BRANDS INC       LTD QT          8,493.0      (258.0)   2,281.0
L BRANDS INC       LBEUR EU        8,493.0      (258.0)   2,281.0
L BRANDS INC       LTD GR          8,493.0      (258.0)   2,281.0
L BRANDS INC       LB* MM          8,493.0      (258.0)   2,281.0
LEAP WIRELESS      LWI GR          4,662.9      (125.1)     346.9
LEAP WIRELESS      LWI TH          4,662.9      (125.1)     346.9
LEAP WIRELESS      LEAP US         4,662.9      (125.1)     346.9
LORILLARD INC      LLV TH          4,154.0    (2,134.0)   1,135.0
LORILLARD INC      LO US           4,154.0    (2,134.0)   1,135.0
LORILLARD INC      LLV GR          4,154.0    (2,134.0)   1,135.0
MADISON-A/NEW-WI   MSGN-W US         911.0    (1,213.9)     103.4
MAJESCOR RESOURC   MJXEUR EU           0.0        (0.1)      (0.1)
MALIBU BOATS-A     M05 GR            199.9        (1.4)      13.7
MALIBU BOATS-A     MBUU US           199.9        (1.4)      13.7
MANNKIND CORP      MNKD IT           126.4      (350.3)    (191.7)
MARRIOTT INTL-A    MAQ TH          6,082.0    (3,590.0)  (1,849.0)
MARRIOTT INTL-A    MAQ QT          6,082.0    (3,590.0)  (1,849.0)
MARRIOTT INTL-A    MAQ GR          6,082.0    (3,590.0)  (1,849.0)
MARRIOTT INTL-A    MAR US          6,082.0    (3,590.0)  (1,849.0)
MDC COMM-W/I       MDZ/W CN        1,590.2      (417.6)    (403.9)
MDC PARTNERS-A     MDZ/A CN        1,590.2      (417.6)    (403.9)
MDC PARTNERS-A     MD7A GR         1,590.2      (417.6)    (403.9)
MDC PARTNERS-A     MDCA US         1,590.2      (417.6)    (403.9)
MDC PARTNERS-EXC   MDZ/N CN        1,590.2      (417.6)    (403.9)
MEAD JOHNSON       0MJA TH         3,998.1      (592.5)   1,349.1
MEAD JOHNSON       MJNEUR EU       3,998.1      (592.5)   1,349.1
MEAD JOHNSON       0MJA GR         3,998.1      (592.5)   1,349.1
MEAD JOHNSON       MJN US          3,998.1      (592.5)   1,349.1
MEDLEY MANAGE-A    MDLY US           121.5       (17.7)      53.8
MERITOR INC        MTOR US         2,050.0      (653.0)     118.0
MERITOR INC        AID1 GR         2,050.0      (653.0)     118.0
MERRIMACK PHARMA   MP6 GR            234.9      (183.7)      97.6
MERRIMACK PHARMA   MACK US           234.9      (183.7)      97.6
MICHAELS COS INC   MIM GR          2,023.3    (1,724.1)     594.9
MICHAELS COS INC   MIK US          2,023.3    (1,724.1)     594.9
MIDSTATES PETROL   MPO1EUR EU      1,298.1      (816.0)      96.2
MONEYGRAM INTERN   9M1N QT         4,505.2      (222.8)     (19.0)
MONEYGRAM INTERN   MGI US          4,505.2      (222.8)     (19.0)
MOODY'S CORP       MCOEUR EU       5,123.4      (333.0)   2,024.6
MOODY'S CORP       DUT TH          5,123.4      (333.0)   2,024.6
MOODY'S CORP       DUT GR          5,123.4      (333.0)   2,024.6
MOODY'S CORP       MCO US          5,123.4      (333.0)   2,024.6
MOTOROLA SOLUTIO   MTLA GR         8,387.0       (96.0)   2,389.0
MOTOROLA SOLUTIO   MOT TE          8,387.0       (96.0)   2,389.0
MOTOROLA SOLUTIO   MTLA TH         8,387.0       (96.0)   2,389.0
MOTOROLA SOLUTIO   MSI US          8,387.0       (96.0)   2,389.0
MPG OFFICE TRUST   1052394D US     1,280.0      (437.3)       -
MSG NETWORKS- A    1M4 GR            911.0    (1,213.9)     103.4
MSG NETWORKS- A    1M4 TH            911.0    (1,213.9)     103.4
MSG NETWORKS- A    MSGN US           911.0    (1,213.9)     103.4
NATHANS FAMOUS     NFA GR             81.0       (65.2)      57.4
NATHANS FAMOUS     NATH US            81.0       (65.2)      57.4
NATIONAL CINEMED   XWM GR          1,084.3      (171.7)      84.6
NATIONAL CINEMED   NCMI US         1,084.3      (171.7)      84.6
NAVIDEA BIOPHARM   NAVB IT            17.5       (51.8)       8.7
NAVISTAR INTL      IHR TH          5,980.0    (5,190.0)     139.0
NAVISTAR INTL      IHR GR          5,980.0    (5,190.0)     139.0
NAVISTAR INTL      NAV US          5,980.0    (5,190.0)     139.0
NEFF CORP-CL A     NEFF US           656.3      (178.0)      20.5
NEW ENG RLTY-LP    NEN US            202.4       (30.1)       -
NORTHERN OIL AND   NOG US            733.9      (197.6)      50.7
NORTHERN OIL AND   4LT GR            733.9      (197.6)      50.7
NTELOS HOLDINGS    NTLS US           643.0       (39.0)     106.7
OMEROS CORP        OMER US            41.4        (9.0)      17.2
OMEROS CORP        3O8 GR             41.4        (9.0)      17.2
OMEROS CORP        3O8 TH             41.4        (9.0)      17.2
OMEROS CORP        OMEREUR EU         41.4        (9.0)      17.2
OMTHERA PHARMACE   OMTH US            18.3        (8.5)     (12.0)
OUTERWALL INC      CS5 GR          1,366.1       (22.1)      43.2
OUTERWALL INC      OUTR US         1,366.1       (22.1)      43.2
PALM INC           PALM US         1,007.2        (6.2)     141.7
PBF LOGISTICS LP   PBFX US           422.9      (185.7)      34.2
PBF LOGISTICS LP   11P GR            422.9      (185.7)      34.2
PENN NATL GAMING   PN1 GR          5,138.8      (678.0)    (185.3)
PENN NATL GAMING   PENN US         5,138.8      (678.0)    (185.3)
PHILIP MORRIS IN   PMI1 IX        33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   4I1 GR         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM FP          33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   4I1 TH         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM1 TE         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PMI EB         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM1CHF EU      33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PMI SW         33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM US          33,956.0   (11,476.0)     418.0
PHILIP MORRIS IN   PM1EUR EU      33,956.0   (11,476.0)     418.0
PLANET FITNESS-A   3PL GR            699.2        (1.1)       6.7
PLANET FITNESS-A   3PL TH            699.2        (1.1)       6.7
PLANET FITNESS-A   PLNT US           699.2        (1.1)       6.7
PLAYBOY ENTERP-A   PLA/A US          165.8       (54.4)     (16.9)
PLAYBOY ENTERP-B   PLA US            165.8       (54.4)     (16.9)
PLY GEM HOLDINGS   PGEM US         1,285.9       (76.8)     256.1
PLY GEM HOLDINGS   PG6 GR          1,285.9       (76.8)     256.1
POLYMER GROUP-B    POLGB US        1,991.4        (3.9)     322.1
PROTECTION ONE     PONE US           562.9       (61.8)      (7.6)
PURETECH HEALTH    PRTCL EB            -           -          -
PURETECH HEALTH    PRTC LN             -           -          -
PURETECH HEALTH    PRTCL PO            -           -          -
PURETECH HEALTH    PRTCL IX            -           -          -
PURETECH HEALTH    PRTCGBX EU          -           -          -
QUALITY DISTRIBU   QLTY US           413.0       (22.9)     102.9
QUALITY DISTRIBU   QDZ GR            413.0       (22.9)     102.9
QUINTILES TRANSN   QTS GR          3,926.3      (335.7)     817.8
QUINTILES TRANSN   Q US            3,926.3      (335.7)     817.8
RAYONIER ADV       RYQ GR          1,288.5       (17.1)     196.3
RAYONIER ADV       RYAM US         1,288.5       (17.1)     196.3
REGAL ENTERTAI-A   RGC* MM         2,632.3      (877.6)    (113.1)
REGAL ENTERTAI-A   RETA GR         2,632.3      (877.6)    (113.1)
REGAL ENTERTAI-A   RGC US          2,632.3      (877.6)    (113.1)
RENAISSANCE LEA    RLRN US            57.0       (28.2)     (31.4)
RENTECH NITROGEN   RNF US            291.1      (138.0)      13.7
RENTECH NITROGEN   2RN GR            291.1      (138.0)      13.7
RENTPATH LLC       PRM US            208.0       (91.7)       3.6
REVLON INC-A       REV US          2,014.3      (587.5)     351.9
REVLON INC-A       RVL1 GR         2,014.3      (587.5)     351.9
ROUNDY'S INC       4R1 GR          1,095.7       (92.7)      59.7
ROUNDY'S INC       RNDY US         1,095.7       (92.7)      59.7
RURAL/METRO CORP   RURL US           303.7       (92.1)      72.4
RYERSON HOLDING    RYI US          1,556.2      (140.8)     643.0
SALLY BEAUTY HOL   SBH US          2,043.1      (321.7)     674.9
SALLY BEAUTY HOL   S7V GR          2,043.1      (321.7)     674.9
SANCHEZ ENERGY C   13S GR          1,542.3      (456.2)     499.1
SANCHEZ ENERGY C   SN US           1,542.3      (456.2)     499.1
SANCHEZ ENERGY C   13S TH          1,542.3      (456.2)     499.1
SANCHEZ ENERGY C   SN* MM          1,542.3      (456.2)     499.1
SBA COMM CORP-A    SBAC US         7,403.2    (1,706.1)      20.6
SBA COMM CORP-A    SBJ TH          7,403.2    (1,706.1)      20.6
SBA COMM CORP-A    SBACEUR EU      7,403.2    (1,706.1)      20.6
SBA COMM CORP-A    SBJ GR          7,403.2    (1,706.1)      20.6
SCIENTIFIC GAM-A   SGMS US         7,732.2    (1,495.5)     521.6
SCIENTIFIC GAM-A   TJW GR          7,732.2    (1,495.5)     521.6
SEARS HOLDINGS     SEE TH         11,337.0    (1,956.0)     607.0
SEARS HOLDINGS     SHLD US        11,337.0    (1,956.0)     607.0
SEARS HOLDINGS     SEE QT         11,337.0    (1,956.0)     607.0
SEARS HOLDINGS     SEE GR         11,337.0    (1,956.0)     607.0
SILVER SPRING NE   9SI TH            457.7       (33.9)       6.5
SILVER SPRING NE   SSNI US           457.7       (33.9)       6.5
SILVER SPRING NE   9SI GR            457.7       (33.9)       6.5
SIRIUS XM CANADA   SIICF US          311.1      (147.2)    (189.0)
SIRIUS XM CANADA   XSR CN            311.1      (147.2)    (189.0)
SIRIUS XM HOLDIN   RDO TH          8,046.7      (166.5)  (1,934.6)
SIRIUS XM HOLDIN   RDO GR          8,046.7      (166.5)  (1,934.6)
SIRIUS XM HOLDIN   SIRI US         8,046.7      (166.5)  (1,934.6)
SONIC CORP         SONCEUR EU        616.1       (20.7)       7.4
SONIC CORP         SO4 GR            616.1       (20.7)       7.4
SONIC CORP         SONC US           616.1       (20.7)       7.4
SPORTSMAN'S WARE   06S GR            343.4       (14.0)      91.8
SPORTSMAN'S WARE   SPWH US           343.4       (14.0)      91.8
SUN BIOPHARMA IN   SNBP US             -           -          -
SUPERVALU INC      SVU US          4,643.0      (444.0)      81.0
SUPERVALU INC      SJ1 TH          4,643.0      (444.0)      81.0
SUPERVALU INC      SVU* MM         4,643.0      (444.0)      81.0
SUPERVALU INC      SJ1 GR          4,643.0      (444.0)      81.0
SYNDAX PHARMACEU   SNDX US            12.8        (5.7)       2.1
SYNDAX PHARMACEU   1T3 GR             12.8        (5.7)       2.1
TAILORED BRANDS    TLRD US         2,259.4      (100.1)     723.6
TRANSDIGM GROUP    T7D GR          8,330.0      (964.3)   1,204.3
TRANSDIGM GROUP    TDG SW          8,330.0      (964.3)   1,204.3
TRANSDIGM GROUP    TDG US          8,330.0      (964.3)   1,204.3
TRANSDIGM GROUP    TDGCHF EU       8,330.0      (964.3)   1,204.3
TRIBUNE PUBLISHI   TPUB US           833.0       (14.4)      (1.3)
TRINITY PLACE HO   TPHS US            56.3        (3.3)       -
UNISYS CORP        UISEUR EU       2,143.2    (1,378.6)     165.2
UNISYS CORP        USY1 GR         2,143.2    (1,378.6)     165.2
UNISYS CORP        USY1 TH         2,143.2    (1,378.6)     165.2
UNISYS CORP        UIS US          2,143.2    (1,378.6)     165.2
UNISYS CORP        UIS1 SW         2,143.2    (1,378.6)     165.2
UNISYS CORP        UISCHF EU       2,143.2    (1,378.6)     165.2
VECTOR GROUP LTD   VGR GR          1,310.8      (122.2)     367.4
VECTOR GROUP LTD   VGR US          1,310.8      (122.2)     367.4
VENOCO INC         VQ US             403.8      (354.3)     195.7
VERISIGN INC       VRSN US         2,357.7    (1,070.4)     464.9
VERISIGN INC       VRS TH          2,357.7    (1,070.4)     464.9
VERISIGN INC       VRS GR          2,357.7    (1,070.4)     464.9
VERIZON TELEMATI   HUTC US           110.2      (101.6)    (113.8)
VIRGIN MOBILE-A    VM US             307.4      (244.2)    (138.3)
WEIGHT WATCHERS    WW6 TH          1,422.1    (1,285.7)    (144.2)
WEIGHT WATCHERS    WW6 GR          1,422.1    (1,285.7)    (144.2)
WEIGHT WATCHERS    WTWEUR EU       1,422.1    (1,285.7)    (144.2)
WEIGHT WATCHERS    WTW US          1,422.1    (1,285.7)    (144.2)
WEST CORP          WT2 GR          3,612.3      (552.1)     243.1
WEST CORP          WSTC US         3,612.3      (552.1)     243.1
WESTERN REFINING   WR2 GR            501.0       (68.4)      36.7
WESTERN REFINING   WNRL US           501.0       (68.4)      36.7
WINGSTOP INC       EWG GR            121.1        (9.7)       7.1
WINGSTOP INC       WING US           121.1        (9.7)       7.1
WINMARK CORP       WINA US            47.4       (30.7)      16.9
WINMARK CORP       GBZ GR             47.4       (30.7)      16.9
YRC WORLDWIDE IN   YRCW US         1,894.6      (379.4)     160.9
YRC WORLDWIDE IN   YEL1 TH         1,894.6      (379.4)     160.9
YRC WORLDWIDE IN   YRCWEUR EU      1,894.6      (379.4)     160.9
YRC WORLDWIDE IN   YEL1 GR         1,894.6      (379.4)     160.9


                            *********

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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