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         T R O U B L E D   C O M P A N Y   R E P O R T E R

              Wednesday, April 13, 2016, Vol. 20, No. 104

                            Headlines

1031 TAX: Court Orders Payment of Assigned Claims to ASM
1490 BEDFORD: Case Summary & 3 Unsecured Creditors
220 ELM STREET: Case Jointly Administered With Newbury's
AEP INDUSTRIES: Egan-Jones Hikes Sr. Unsecured Rating to B+
ALBERT EINSTEIN: S&P Lowers Rating on 2013A/B Revenue Bonds to B+

ALPHA NATURAL: Seeks to Reject UMWA CBAs
ALVION PROPERTIES: UST Seeks to Compel Monthly Operating Reports
ANTIOCH CO: 6th Cir. Affirms Partial Summary Judgment to Directors
APRICUS BIOSCIENCES: BDO USA Expresses Going Concern Doubt
AQGEN I: S&P Puts 'B' ICR on CreditWatch Positive

ARCH COAL: Sec. 341 Meeting of Creditors Continued to April 18
ART AND ARCHITECTURE: Court Approves Second Amended Ch. 11 Plan
ASP EMERALD: Moody's Affirms B2 CFR & Changes Outlook to Stable
AXION INTERNATIONAL: Plan Confirmation Hearing Set for May 9
B. DIANE TAMARIZ-WALLACE: Nationwide Mutual Suit Remains Stayed

BAKER O'NEAL: Couple Liable for 1998 Tax Addition
BIOCEPT INC: Mayer Hoffman Expresses Going Concern Doubt
BOMBARDIER INC: Egan-Jones Cuts Sr. Unsecured Rating to B-
BON-TON STORES: Egan-Jones Cuts Sr. Unsecured Rating to CCC-
BONNIE & CLYDE'S: Case Summary & 20 Largest Unsecured Creditors

BREITBURN ENERGY: Egan-Jones Cuts Sr. Unsecured Rating to CCC+
BROOKLYN RENAISSANCE: Settles Hamilton Claims for $3.3-Mil.
BROOKS RUN: Lone Wolfe Suit Stayed Pending Bankruptcy
CAESARS ENTERTAINMENT: CEOC Inks Non-Disclosure Agreement
CBAC GAMING: Moody's Lowers CFR to Caa1, Outlook Negative

CENTRAL OKLAHOMA: Patient Care Ombudsman's Employment Terminated
CHARTER SCHOOL: S&P Assigns BB Rating on 2016A/B Revenue Bonds
CINCINNATI TERRACE: Hires Ten-X as Auctioneer
COLUMBIA SPORTSWEAR: Egan-Jones Issues NR Status on Unsec. Debt
CUMULUS MEDIA: Egan-Jones Cuts Sr. Unsecured Debt Rating to CCC+

DARDEN RESTAURANT: Moody's Puts Ba1 CFR on Review for Upgrade
DEFINED DIAGNOSTICS: Case Summary & 11 Unsecured Creditors
DELTA PRODUCE: Appeal from Fee Award Must be Junked, 5th Cir. Rules
DEMCO INC: Hires Katz & Fierro as Accountants
DIVERSE ENERGY: Hires Robinson as Real Estate Broker

DJO FINANCE: Moody's Lowers CFR to Caa1, Outlook Stable
DUCOMMUN INC: Moody's Withdraws B1 CFR for Business Reasons
DVORKIN HOLDINGS: Order Approving Trustee's Sec. 363 Motion Vacated
EAST ORANGE: Court Approves Joint Administration of Cases
EAST ORANGE: May 9 Fixed as Governmental Unit Claims Bar Date

EAST ORANGE: Trustee Names Laura L. Katz as Patient Care Ombudsman
ELC HEALTH: Case Summary & 20 Largest Unsecured Creditors
EMERALD OIL: Meeting of Creditors Scheduled for April 15
ERICKSON INCORPORATED: Moody's Lowers CFR to Caa1, Outlook Neg.
ESTATE FINANCIAL: Modifies Exculpation Provisions in Plan

EVEN ST. PRODUCTIONS: Three Creditors Request Chapter 11 Trustee
EXTREME PLASTICS: Proposes May 23 General Claims Bar Date
FIBROCELL SCIENCE: PwC Expresses Going Concern Doubt
FILMED ENTERTAINMENT: Unsec. Creditors May Recoup Up to 54%
FLORHAM PARK SURGERY: Case Summary & 20 Top Unsecured Creditors

FPMC SAN ANTONIO: U.S. Trustee Seeks Dismissal of Ch. 11 Case
FRED'S INC: Egan-Jones Assigns BB- Rating on Sr. Unsecured Debt
FREEDOM COMMUNICATIONS: DFM Entitled to Bid Protection, Panel Says
FREEDOM COMMUNICATIONS: FTI Consulting Okayed as Investment Banker
FREEDOM COMMUNICATIONS: LMG Seeks Return of $647K

FUHU INC: Needs Until Aug. 3 to File Ch. 11 Plan
GAMING & LEISURE: S&P Rates New $825MM Incremental Loan 'BB+'
GASTAR EXPLORATION: Egan-Jones Cuts Sr. Unsecured Rating to C
GEO GROUP: S&P Assigns 'BB-' Rating on New $300MM Sr. Unsec. Notes
GREAT LAKES COMNET: Gets Approval to Pay Sales and Use Taxes

GREAT LAKES QUICK: 5th Cir. Remands Suit vs. TD Investments
GROWING POWER: EY Seeking Bids for Asset Sales
GUIN CITY, AL: Moody's Lowers GOLT Rating to Ba1, Outlook Negative
HARSCO CORP: Egan-Jones Cuts Sr. Unsecured Rating to B+
HAVERHILL CHEMICALS: Liquidating Plan Confirmed by Judge

HILLMAN GROUP: S&P Affirms 'B' CCR & Revises Outlook to Negative
INTEGRATED STRUCTURES: Court Junks Pension Fund's ERISA Fraud Claim
J&N RESTAURANT: Dismissal of Mendolia Trustee's Suit Affirmed
JOY GLOBAL: Egan-Jones Cuts Sr. Unsecured Rating to BB from BB+
JUMIO INC: Meeting of Creditors Scheduled for April 25

JUMIO, INC.: McCarter & English Represents Ad Hoc Equity Committee
K4M CONSTRUCTION: U.S. Trustee Unable to Appoint Committee
KALOBIOS PHARMA: Files Plan; Black Horse Pledges Exit Loans
KEY ENERGY: Egan-Jones Cuts Sr. Unsecured Rating to D From C
LEE STEEL: Liquidating Plan Declared Effective April 1

LIFE CARE: Case Summary & 20 Largest Unsecured Creditors
LIFE CARE: Files for Ch. 11 Anew to Facilitate Sale to LCS
LINDENHURST PARK: Moody's Affirms B1 Rating on GO Debt
LOCATIONS II INC: Case Summary & 4 Unsecured Creditors
LYONDELL CHEMICAL: Currier Cannot Appeal Interlocutory Order

MAGNOLIA LANE INCOME FUND: Posts $22,515 Net Loss for Jan. 31 Qtr
MAGNUM HUNTER: Exclusive Solicitation Period Extended to Sept. 13
MAGNUM HUNTER: Prime Clerk Approved as Administrative Agent
MAGNUM HUNTER: Venable Files Rule 2019 Statement
MARKET CENTER: Cal. App. Affirms Attorney Fees Award to D. Lahave

MICRON TECHNOLOGY: Moody's Affirms Ba2 CFR, Outlook Stable
MICRON TECHNOLOGY: S&P Affirms 'BB' CCR, Outlook Negative
NAPERVILLE THEATER: Order Dismissing IDOR's Appeal Reversed
NEUROTROPE INC: Friedman LLP Expresses Going Concern Doubt
NEWBURY COMMON: 220 Elm Street's Case Jointly Administered

NEWBURY COMMON: Needs Until Sept. 8 to File Ch. 11 Plan
NORANDA ALUMINUM: Committee Hires Lowenstein Sandler as Counsel
NORANDA ALUMINUM: Committee Taps Houlihan Lokey as Fin'l Advisor
NORTEL NETWORKS: CCAA Monitor Wants LSI's Payment Bid Adjourned
OSAGE EXPLORATION: Judge Set to Hear Bid to Reconsider DIP Order

OUTER HARBOR TERMINAL: Proposes Dunn & Crutcher as Special Counsel
PACIFIC SUNWEAR: Seeks Approval of Bidding Procedures
PARAGON OFFSHORE: Ch. 11 Plan Goes to June 21 Confirmation Hearing
PAUL LABARRE: DIRECTV's Bid to Dismiss Appeal Granted
PEABODY ENERGY: Egan-Jones Lowers Sr. Unsecured Debt Rating to D

PHH CORP: Moody's Puts Ba3 CFR on Review for Downgrade
PHH CORP: S&P Lowers Issuer Credit Rating to 'B', Outlook Negative
PIONEER HEALTH: Hires Healthcare Management as Financial Advisor
PLEASE TOUCH MUSEUM: Plan Effective Date Occurred March 31
PMA MEDICAL: U.S. Trustee Forms 2-Member Committee

POSTROCK ENERGY: U.S. Trustee Forms 3-Member Committee
PROVIDENCE HALL: 4th Cir. Affirms Dismissal of Suit vs. Wells Fargo
QUANTUM FUEL: Hires Kerr Russell as Special Corporate Counsel
QUANTUM FUEL: Taps Garden City as Claims & Noticing Agent
RAYMOND SMITH: Three Day Can Intervene in Suit vs. Accredited

RCS CAPITAL: Cetera Debtors Tap Prime Clerk as Claims Agent
RCS CAPITAL: Employs Ridgeway as Board Member Search Advisors
REDEEMED CHRISTIAN: Voluntary Chapter 11 Case Summary
RESIDENTIAL CAPITAL: Objection to Claim No. 1083 Sustained
SABRE INDUSTRIES: S&P Lowers CCR to 'B-', Outlook Stable

SAINT MICHAEL: Bid to Reopen Bankruptcy Case Denied
SAINT MICHAEL: Court Says Sole Shareholder Lacks Standing to Sue
SANJEL CANADA: Chapter 15 Case Summary
SANJEL CANADA: Files Chapter 15 Petition in Texas
SANJEL CANADA: Seeks Joint Administration With Prior Debtors

SHASTA ENTERPRISES: Court Reaffirms Felderstein as Trustee Counsel
SIDEWINDER DRILLING: Moody's Lowers CFR to Ca, Outlook Negative
SIGA TECHNOLOGIES: New York Judge Confirms 3rd Amended Plan
SKYPORT GLOBAL: 5th Cir. Affirms Sanctions vs. Schermerhorn Parties
SNUG HARBOR: Case Summary & 6 Unsecured Creditors

SPORTS AUTHORITY: Clark Hill Files Rule 2019 Statement
SPORTS AUTHORITY: Davidoff Hutcher Representing Consignment Vendors
SPORTS AUTHORITY: Laufer Files Rule 2019 Statement
SPORTS AUTHORITY: Mirick, Sullivan File Rule 2019 Statement
SRP PLAZA: Judge Issues Final Decree to Close Case

TARHEEL LAND: Case Summary & 20 Largest Unsecured Creditors
TAYLOR-WHARTON: Committee Seeks to Pursue Claims vs. Lenders
TAYLOR-WHARTON: Seeks to Assume & Assign Shell Contract to GRI
TORQUED-UP ENERGY: Gollob Morgan Okayed as Accountants
TRANSCANADA CORP: Egan-Jones Cuts Sr. Unsecured Rating to BB+

TRI-VALLEY CORP: Court Narrows Claims in Investors' Suit
TRIBUNE CO: 2nd Cir. Affirms Dismissal of Claims vs Ex-Shareholder
VARIANT HOLDING: Court OKs Joint Administration of Ch. 11 Cases
VENOCO INC: Proposes June 3 General Claims Bar Date
VERSO CORP: Committee Hires Zolfo Cooper as Financial Advisors

VERSO CORP: Creditors' Panel Hires Lowenstein as Counsel
VERSO CORP: Hires Deloitte & Touche as Independent Auditor
VERSO CORP: Hires Deloitte for Tax Services
VERSO CORP: Hires Morgan Lewis & Bockius as M&A Counsel
VICTORY CAPITAL: Moody's Affirms B2 Rating, Outlook Positive

VRINGO INC: KPMG Expresses Going Concern Doubt
[*] Global Speculative-Default to Rise to 4.6%, Moody's Says

                            *********

1031 TAX: Court Orders Payment of Assigned Claims to ASM
--------------------------------------------------------
Judge Joseph C. Spero issued an order providing instruction
regarding the distribution of funds to assignors or assignees of
bankruptcy claims in the case captioned ANITA HUNTER, et al.,
Plaintiffs, v. CITIBANK, N.A., et al., Defendants, Case No.
09-cv-02079-JCS (N.D. Cal.).

Claims were asserted on behalf of a class of approximately 400
individuals who lost money they deposited with certain Qualified
Intermediaries ("QIs") as the result of a Ponzi scheme orchestrated
by Edward H. Okun, who, with the help of others, acquired several
QIs, which were held under the name The 1031 Tax Group, LLC.
Sandra Stroud and Sam L. Braswell were class members who lost
funds, with claim amounts of $54,363.69 and $51,959.97,
respectively.  The class plaintiffs eventually settled their claims
in a series of class settlements.

When Okun was convicted for various criminal offenses and a Chapter
11 bankruptcy was initiated by the 1031 Tax Group, Stroud and
Braswell sold their bankruptcy claims by entering into assignment
agreements with ASM Capital.

Stroud and Braswell argued that the assignments are limited to
recovery from the estate in the bankruptcy case, and that the
decision in Okun's criminal case finding that restitution should be
paid to ASM under a similar assignment was incorrectly decided by
the Virginia court and should be rejected.

Judge Spero found that the Braswell and Stroud assignment
agreements are unambiguous as to the scope of the assignments,
assigning to ASM not only claims to be paid out of the estate in
the bankruptcy case but also Stroud and Braswell's claims in the
present action.  The judge also concluded that another claimant,
Steven Schoenfeld, does not contest ASM's assertion that his claim
has been assigned to ASM because of his failure to appear.

As such, Judge Spero directed the plaintiffs to make settlement
payments on the Braswell, Stroud and Schoenfeld claims in this
action directly to ASM, pursuant to the assignments between ASM and
those individuals.

A full-text copy of Judge Spero's March 25, 2016 order is available
at http://is.gd/Rk8Nqffrom Leagle.com.

Anita Hunter, Plaintiff, represented by Anthony Robert Zelle --
tzelle@zelmcd.com -- Zelle McDonough & Cohen, LLP, Brian P.
McDonough -- bmcdonough@zelmcd.com -- Zelle McDonough & Cohen LLP,
Michael P. Denver, Hollister & Brace, Robert Louis Brace, Robert A.
Curtis -- rcurtis@foleybezek.com -- Foley Bezek Behle & Curtis LLP,
Thomas W. Evans -- tevans@zelmcd.com -- Zelle McDonough & Cohen LLP
& Thomas G. Foley, Jr. -- tfoley@foleybezek.com -- Foley Bezek
Behle & Curtis, LLP.

Johnna Bozza, Plaintiff, represented by Anthony Robert Zelle, Zelle
McDonough & Cohen, LLP, Brian P. McDonough, Zelle McDonough & Cohen
LLP, Michael P. Denver, Hollister & Brace, Robert Louis Brace,
Robert A. Curtis, Foley Bezek Behle & Curtis LLP, Thomas W. Evans,
Zelle McDonough & Cohen LLP & Thomas G. Foley, Jr., Foley Bezek
Behle & Curtis, LLP.

Celltex Site Services, LTD, Plaintiff, represented by Anthony
Robert Zelle, Zelle McDonough & Cohen, LLP, Brian P. McDonough,
Zelle McDonough & Cohen LLP, Michael P. Denver, Hollister & Brace,
Robert Louis Brace, Robert A. Curtis, Foley Bezek Behle & Curtis
LLP, Thomas W. Evans, Zelle McDonough & Cohen LLP & Thomas G.
Foley, Jr., Foley Bezek Behle & Curtis, LLP.

Grande Investment LLC, a Colorado limited liability company,
Plaintiff, represented by Anthony Robert Zelle, Zelle McDonough &
Cohen, LLP, Brian P. McDonough, Zelle McDonough & Cohen LLP,
Michael P. Denver, Hollister & Brace, Robert Louis Brace, Robert A.
Curtis, Foley Bezek Behle & Curtis LLP,Thomas W. Evans, Zelle
McDonough & Cohen LLP & Thomas G. Foley, Jr., Foley Bezek Behle &
Curtis, LLP.

Quirk Infiniti, Inc., a Massachusetts corporation, Plaintiff,
represented byAnthony Robert Zelle, Zelle McDonough & Cohen, LLP,
Brian P. McDonough, Zelle McDonough & Cohen LLP, pro hac vice,
Michael P. Denver, Hollister & Brace, Robert Louis Brace, Robert A.
Curtis, Foley Bezek Behle & Curtis LLP,Thomas W. Evans, Zelle
McDonough & Cohen LLP, pro hac vice & Thomas G. Foley, Jr., Foley
Bezek Behle & Curtis, LLP.

Whitton Michael, and all others similarly situated, Plaintiff,
represented byAnthony Robert Zelle, Zelle McDonough & Cohen, LLP,
Brian P. McDonough, Zelle McDonough & Cohen LLP, Michael P. Denver,
Hollister & Brace, Robert Louis Brace, Robert A. Curtis, Foley
Bezek Behle & Curtis LLP, Thomas W. Evans, Zelle McDonough & Cohen
LLP & Thomas G. Foley, Jr., Foley Bezek Behle & Curtis, LLP.

Sadi Suhweil, as Trustee of the Suhweil Revocable Trust, Plaintiff,
represented by Anthony Robert Zelle, Zelle McDonough & Cohen, LLP,
Brian P. McDonough, Zelle McDonough & Cohen LLP, Michael P. Denver,
Hollister & Brace, Robert Louis Brace, Robert A. Curtis, Foley
Bezek Behle & Curtis LLP,Thomas W. Evans, Zelle McDonough & Cohen
LLP & Thomas G. Foley, Jr., Foley Bezek Behle & Curtis, LLP.

Citibank, N.A., a Nevada corporation, Defendant, represented by
Carol Lynn Thompson -- cthompson@sidley.com -- Sidley Austin LLP,
John Kenneth Van De Weert, Jr. -- jvandeweert@sidley.com -- Sidley
Austin LLP, pro hac vice, Kevin Michael Fee -- kfee@sidley.com --
Sidley Austin LLP, pro hac vice, Mark Bruce Blocker --
mblocker@sidley.com -- Sidley Austin LLP, pro hac vice & Thomas
Reynolds Heisler, II, Sidley Austin LLP, pro hac vice.

Countrywide Bank, FSB, a Virginia corporation, Defendant,
represented by Madeline Anne Zamoyski, O'Melveny & Myers LLP, Allen
W. Burton -- aburton@omm.com -- O'Melveny & Myers LLP, pro hac
vice, Bradley J. Butwin -- bbutwin@omm.com -- O'Melveny & Myers LLP
& Gary Svirsky -- gsvirsky@omm.com -- O'Melveny & Myers LLP.

Bank of America Corporation, Defendant, represented by Madeline
Anne Zamoyski, O'Melveny & Myers LLP, Allen W. Burton, O'Melveny &
Myers LLP, pro hac vice, Bradley J. Butwin, O'Melveny & Myers LLP &
Gary Svirsky, O'Melveny & Myers LLP.

United Western Bank, Defendant, represented by William J. Goines,
Greenberg Traurig, LLP, Cindy Hamilton, Greenberg Traurig, LLP &
Karen Rosenthal, Greenberg Traurig LLP.

Boulder Capital, LLC, a Massachusetts Corporation, Defendant,
represented by Jeffrey Noah Labovitch, McCloskey, Waring & Waisman
LLP, Michael Drury, McCloskey, Waring & Waisman LLP, Stephen F.
Gordon, The Gordon Law Firm LLP, pro hac vice & Todd Barnett
Gordon, The Gordon Law Firm LLP, pro hac vice.

Boulder Columbus, LLC, a Massachusetts limited liability company,
Defendant, represented by Jeffrey Noah Labovitch, McCloskey, Waring
& Waisman LLP, Michael Drury, McCloskey, Waring & Waisman LLP,
Stephen F. Gordon, The Gordon Law Firm LLP, pro hac vice & Todd
Barnett Gordon, The Gordon Law Firm LLP, pro hac vice.

Boulder West Oaks, LLC, a Delaware limited liability company,
Defendant, represented by Jeffrey Noah Labovitch, McCloskey, Waring
& Waisman LLP,Michael Drury, McCloskey, Waring & Waisman LLP,
Stephen F. Gordon, The Gordon Law Firm LLP, pro hac vice & Todd
Barnett Gordon, The Gordon Law Firm LLP, pro hac vice.

Boulder Holdings, VI, LLC, a Delaware limited liability company,
Defendant, represented by Jeffrey Noah Labovitch, McCloskey, Waring
& Waisman LLP,Michael Drury, McCloskey, Waring & Waisman LLP,
Stephen F. Gordon, The Gordon Law Firm LLP, pro hac vice & Todd
Barnett Gordon, The Gordon Law Firm LLP, pro hac vice.

Roy S MacDowell, Jr, Defendant, represented by Jeffrey Noah
Labovitch, McCloskey, Waring & Waisman LLP, Michael Drury,
McCloskey, Waring & Waisman LLP, Stephen F. Gordon, The Gordon Law
Firm LLP, pro hac vice &Todd Barnett Gordon, The Gordon Law Firm
LLP, pro hac vice.

Cordell Funding LLLP, a Florida limited liability limited
partnership, Defendant, represented by Bryan J. Yarnell, Gilbert
Yarnelll PLLC, pro hac vice, Eileen Regina Ridley, Foley & Lardner
LLP, Irwin R Gilbert, Gilbert PA Yarnell PLLC, Katherine R.
Catanese, Foley & Lardner LLP, Olya Petukhova, Foley & Lardner LLP,
pro hac vice & Patrick T. Wong, Foley & Lardner LLP.

Cordell Consultants New York, LLC, a New York limited liability
company, Defendant, represented by Bryan J. Yarnell, Gilbert
Yarnelll PLLC, pro hac vice, Eileen Regina Ridley, Foley & Lardner
LLP, Irwin R Gilbert, Gilbert PA Yarnell PLLC, Katherine R.
Catanese, Foley & Lardner LLP, Olya Petukhova, Foley & Lardner LLP,
pro hac vice & Patrick T. Wong, Foley & Lardner LLP.

Cordell Consultants Inc. Money Purchase Plan, a Qualified
Retirement Plan Trust, Defendant, represented by Bryan J. Yarnell,
Gilbert Yarnelll PLLC, pro hac vice, Douglas E. Spelfogel, Foley &
Lardner LLP, pro hac vice, Eileen Regina Ridley, Foley & Lardner
LLP, Irwin R Gilbert, Gilbert PA Yarnell PLLC,Katherine R.
Catanese, Foley & Lardner LLP, Olya Petukhova, Foley & Lardner LLP,
pro hac vice & Patrick T. Wong, Foley & Lardner LLP.

Robin Rodriguez, Defendant, represented by Bryan J. Yarnell,
Gilbert Yarnelll PLLC, pro hac vice, Eileen Regina Ridley, Foley &
Lardner LLP, Irwin R Gilbert, Gilbert PA Yarnell PLLC, Katherine R.
Catanese, Foley & Lardner LLP,Olya Petukhova, Foley & Lardner LLP,
pro hac vice & Patrick T. Wong, Foley & Lardner LLP.

Jorden Burt, LLP, a Connecticut limited liability partnership,
Defendant, represented by Jonathan Matthew Blute, Murphy Pearson
Bradley Feeney,Lawrence A Kellogg, Levine Kellogg Lehman Schneider
& Grossman LLP &Timothy J. Halloran, Murphy Pearson Bradley &
Feeney.

Kutak Rock, LLP, a Nebraska limited liability partnership,
Defendant, represented by Ethan D. Dettmer, Gibson, Dunn & Crutcher
LLP, F. Joseph Warin, Gibson Dunn & Crutcher LLP, pro hac vice,
Scott A. Fink, Gibson, Dunn & Crutcher, LLP & Wayne Allen Schrader,
Gibson, Dunn & Crutcher LLP.

Joseph O. Kavan, Defendant, represented by Ethan D. Dettmer,
Gibson, Dunn & Crutcher LLP, F. Joseph Warin, Gibson Dunn &
Crutcher LLP, pro hac vice,Scott A. Fink, Gibson, Dunn & Crutcher,
LLP & Wayne Allen Schrader, Gibson, Dunn & Crutcher LLP.

Foley & Lardner, LLP, a Wisconsin limited liability partnership,
Defendant, represented by Allison Lane Cooper, Krieg Keller Sloan
Reilley & Roman LLP,James Carnegie Krieg, Krieg Keller Sloan
Reilley & Roman LLP & Jennifer Robin McGlone, Krieg, Keller, Sloan,
Reilley & Roman LLP.

Stephen I Burr, Defendant, represented by Allison Lane Cooper,
Krieg Keller Sloan Reilley & Roman LLP, James Carnegie Krieg, Krieg
Keller Sloan Reilley & Roman LLP & Jennifer Robin McGlone, Krieg,
Keller, Sloan, Reilley & Roman LLP.

Silicon Valley Law Group, a California law corporation, Defendant,
represented by Jerome Nathan Lerch, Lerch Sturmer LLP, Brett Alan
Broge, Lerch Sturmer LLP, Christopher Ashworth, Silicon Valley Law
Group & Debra Steel Sturmer, Lerch Sturmer LLP.

Boulder Holdings X LLC, a Delaware limited liability company,
Defendant, represented by Jeffrey Noah Labovitch, McCloskey, Waring
& Waisman LLP,Michael Drury, McCloskey, Waring & Waisman LLP,
Stephen F. Gordon, The Gordon Law Firm LLP, pro hac vice & Todd
Barnett Gordon, The Gordon Law Firm LLP, pro hac vice.

Cordell Consultants Money Purchase Plan, Defendant, represented by
Bryan J. Yarnell, Gilbert Yarnelll PLLC, pro hac vice, Eileen
Regina Ridley, Foley & Lardner LLP, Irwin R Gilbert, Gilbert PA
Yarnell PLLC, Katherine R. Catanese, Foley & Lardner LLP, Olya
Petukhova, Foley & Lardner LLP, pro hac vice &Patrick T. Wong,
Foley & Lardner LLP.

Sam Braswell, Defendant, represented by Richard William Meaglia.

Sandra Stroud, Defendant, represented by Richard William Meaglia.

ASM Capital, L.P., Interested Party, represented by Michael
Delaney, Baker & Hostier LLP.

ASM Capital III, L.P., Interested Party, represented by Michael
Delaney, Baker & Hostier LLP.

                       About 1031 Tax Group

Headquartered in Richmond, Virginia, The 1031 Tax Group LLC --
http://www.ixg1031.com/-- was a privately held consolidated group

of qualified intermediaries created to service real property
exchanges under Section 1031 of the Internal Revenue Code.
131 Tax Group had total assets of $164.23 million and total
liabilities as of Sept. 30, 2007.

The Company and 15 of its affiliates filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. 07-11448) on May 14, 2007.
Gerard A. McHale, Jr., was appointed Chapter 11 trustee.  Jonathan
L. Flaxer, Esq., and David J. Eisenman, Esq., at Golenbock Eiseman
Assor Bell & Peskoe LLP, represent the Chapter 11 trustee.
Kurtzman Carson Consultants LLC acts as claims and notice agent.
Thomas J. Weber, Esq., Melanie L. Cyganowski, Esq., and Allen G.
Kadish, Esq., at Greenberg Traurig, LLP, represent the Official
Committee of Unsecured Creditors.

Former CEO Edward H. Okun is in federal prison at Northern Neck
Regional Jail in Warsaw, Virginia, after being convicted of mail
fraud and other charges.  Mr. Okun allegedly engaged in several
misappropriations of funds of 1031 Tax Group and other entities.
The funds were used for Mr. Okun's lavish


1490 BEDFORD: Case Summary & 3 Unsecured Creditors
--------------------------------------------------
Debtor: 1490 Bedford Avenue LLC
        c/o Maccabee 1 Realty, Corp
        123 Church Avenue
        Brooklyn, NY 11218

Case No.: 16-41526

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: April 11, 2016

Court: United States Bankruptcy Court
       Eastern District of New York (Brooklyn)

Judge: Hon. Elizabeth S. Stong

Debtor's Counsel: Bruce Weiner, Esq.
                  ROSENBERG MUSSO & WEINER LLP
                  26 Court Street, Suite 2211
                  Brooklyn, NY 11242
                  Tel: (718) 855-6840
                  Fax: 718-625-1966
                  E-mail: courts@nybankruptcy.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Nazila Bardi, managing member.

A list of the Debtor's three largest unsecured creditors is
available for free at http://bankrupt.com/misc/nyeb16-41526.pdf


220 ELM STREET: Case Jointly Administered With Newbury's
--------------------------------------------------------
Newbury Common Associates, LLC, et al., won an order directing
joint administration of 220 Elm Street II's Chapter 11 case with
the bankruptcy cases of Newbury Common Associates, LLC, et al.  All
further pleadings or papers related to 220 Elm Street II will be
filed in the case of Newbury Common Associates, LLC, Case No.
15-12507.  All orders previously entered in the Original and
Additional Debtors' jointly-administered chapter 11 cases apply
with respect to 220 Elm Street II's Chapter 11 case, except for the
Schedules Order.  In addition, all orders related to the retention
of Young Conaway Stargatt & Taylor, LLP, Anchin Block & Anchin LLP,
and Beilinson Advisory Group apply with respect to 220 Elm Street
II's Chapter 11 case.

                  About Newbury Common Associates

Newbury Common Associates, LLC, et al., comprise a corporate
enterprise that owns a diverse portfolio of high quality,
distinctive commercial, hospitality and residential properties with
an aggregate of approximately 800,000 square feet located primarily
in Stamford, Connecticut.

On Dec. 13, 2015, Newbury Common Associates, LLC, and 13 affiliates
each commenced a voluntary case (Bankr. D. Del. Lead Case No.
15-12507) under chapter 11 of the Bankruptcy Code, and on Dec. 14,
Tag Forest LLC commenced a Chapter 11 case (collectively, "Original
Debtors").  On Feb. 3, 2016, Newbury Common Member Associates, LLC
and 8 affiliates commenced a voluntary case under chapter 11 of the
Bankruptcy Code; and then on Feb. 4, 88 Hamilton Avenue Associates,
LLC, filed a Chapter 11 petition (collectively "Additional
Debtors").

Seaboard Realty, LLC, its principals or entities it manages serve
as the manager under the operating agreements for each of the
Debtors and is owned 50% by John J. DiMenna, Jr., 25% by Thomas L.
Kelly, Jr. and 25% by William A. Merritt, Jr.  The Original
Debtors other than Seaboard Residential, LLC, Tag, and Newbury
Common Associates, LLC, are holding companies whose assets are
substantially comprised of the equity of the Property Owner
Debtors.  The Debtors' eight operating property are owned by the
"Property Owner Debtors", namely Century Plaza Investor Associates,
LLC; Seaboard Hotel Associates, LLC; Seaboard Hotel LTS Associates,
LLC; Park Square West Associates, LLC; Clocktower Close Associates,
LLC; One Atlantic Investor Associates, LLC; 88 Hamilton Avenue
Associates, LLC; 220 Elm Street I, LLC; 300 Main Street Associates,
LLC; and Seaboard Residential, LLC.

220 Elm Street II, LLC, sought Chapter 11 protection (Bankr. D.
Del. Case No. 16-10653) on March 17, 2016, estimating $100 million
to $500 million in assets and debt.

The Original Debtors' chapter 11 cases are being jointly
administered pursuant to an order entered Dec. 18, 2015.  The
Debtors later won approval of a supplemental motion seeking joint
administration of the Additional Debtors' Chapter 11 cases with the
cases of the Original Debtors for procedural purposes only.  220
Elm Street's case is jointly administered with the cases of the
Original Debtors.

As of Jan. 7, 2016, the Debtors had incurred purported aggregate
funded secured indebtedness of $177 million in principal, including
approximately $150 million of property-level secured debt and
approximately $26.8 million of purported and allegedly unauthorized
mezzanine debt.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, and
Dechert LLP as attorneys, and Donlin Recano as claims and noticing
agent.


AEP INDUSTRIES: Egan-Jones Hikes Sr. Unsecured Rating to B+
-----------------------------------------------------------
Egan-Jones Ratings Company raised the senior unsecured rating on
debt issued by AEP Industries Inc. to B+ from B.

AEP Industries Inc. manufactures and markets flexible plastic
packaging films in North America.  The company was founded in 1970
and is headquartered in Montvale, New Jersey.



ALBERT EINSTEIN: S&P Lowers Rating on 2013A/B Revenue Bonds to B+
-----------------------------------------------------------------
Standard & Poor's Ratings Services lowered its long-term rating two
notches to 'B+' from 'BB' on the California Municipal Finance
Authority's series 2013A and taxable series 2013B charter school
revenue bonds issued on behalf of 458 26th Street Holdings LLC for
the Albert Einstein Academies.  The outlook is negative.

"The downgrade and negative outlook reflect our assessment of the
academy's materially significant deterioration in financial
performance within the past year," said Standard & Poor's credit
analyst Ashley Ramchandani.  The academy had an operating deficit
of $977,000 (a negative 12% margin), resulting in debt service
coverage of 0.64x.  It expects another operating deficit a
full-accrual basis in fiscal 2016.

In addition, the revised rating and outlook reflects S&P's view of
the academy's significant deterioration in unrestricted cash and
modest liquidity.  It is S&P's opinion that management's limited
operational effectiveness has inhibited its ability to successfully
navigate the academy's aggressive enrollment growth and
considerable increase in debt.  S&P understands that by its
calculations, the academy was in compliance with its financial
covenants as of fiscal 2015 year-end.  It is S&P's opinion that
while the academy currently has the capacity to meet its financial
commitments, it has extremely limited financial flexibility.  In
S&P's view, if management is not able to stabilize operations, the
academy will remain vulnerable to nonpayment of its debt service.
However, it is S&P's opinion that the academy's consistent
enrollment growth and strong demand profile support the 'B+'
rating.



ALPHA NATURAL: Seeks to Reject UMWA CBAs
----------------------------------------
Alpha Natural Resources, Inc., and its debtor affiliates seek
authority from the U.S. Bankruptcy Court to reject their
obligations under their collective bargaining agreements with the
United Mine Workers of America for the benefit of certain of the
Debtors' hourly workforce.

The Debtors also seek authority to modify certain retiree
healthcare obligations, including (a) the termination of certain
retiree medical programs and the replacement of those programs with
a subsidy consistent with the benefits provided to the Debtors'
non-union retirees, and (b) the termination of the Debtors'
liabilities under the Coal Industry Retiree Health Benefit Act of
1992.

According to the Debtors, the scale of the Active and Retired Union
Employees to whom the Debtors owe the Labor and Legacy Obligations
is daunting.  The Debtors relate that they spent $52.9 million on
healthcare benefits for these Union Employees in 2015, an average
of approximately 34% more on each Union Employee than each
Non-Union Employee.  As of the Petition Date, the Debtors has
approximately $872 million in accrued retiree healthcare
obligations to their Union Employees.  

The Debtors tell the Court that their business plan contemplates
that they must achieve an additional $200 million in annual cost
savings across their businesses to maintain their operations and to
accomplish a successful restructuring, of which, approximately $60
million must be realized through savings in labor costs related to
Union Employees.  

The Debtors assert that they are in the process of conducting a
going-concern sale of their most valuable core assets but have not
yet received any expression of interest in the core assets, which
indicated that there is essentially no chance that the Debtors will
receive any qualifying bid to purchase the Core Assets, subject to
the Labor and Legacy Obligations.

The Debtors further assert that upon recognizing the necessity of
labor concessions to the Debtors' restructuring, the Debtors have
met with UMWA and delivered their written proposals detailing the
Debtors' proposed modifications with respect to the Labor and
Legacy Obligations, consistent with the terms of the Debtors' Final
DIP Order duly approved by the Court.  However, according to the
Debtors, UMWA failed to bargain in good faith as UMWA continually
and without good cause refused to seriously discuss -- much less
accept -- the Debtors' Proposals, and when UMWA delivered its first
and only counterproposal, UMWA presented a "take it or leave it"
document that would likely achieve only approximately $2 million of
the $60 million in savings the Debtors must obtain.

Accordingly, the Debtors assert that acceptance of the UMWA
Counterproposal would substantially facilitate the UMWA's ability
to organize the Debtors' non-union operations and would require
that any newly-organized employees be covered by the same
burdensome CBAs covering Active Union Employees, only promising to
impose prospective labor and legacy costs on the Debtors nominal
savings contemplated therein.   

While the Debtors recognize that any reduction in compensation or
benefits causes hardship on current and former Union Employees,
they can achieve a successful restructuring only with shared
sacrifice from all of their stakeholders including active and
retired UMWA-represented employees, otherwise all parties will be
faced with the stark reality of a potential liquidation, including
the loss of all jobs and the inability to provide any benefits, the
Debtors tell the Court.

Alpha Natural Resources, Inc. and certain of its subsidiaries are
represented by:

     Tyler P. Brown, Esq.
     J.R. Smith, Esq.
     Henry P. (Toby) Long, III, Esq.
     Justin F. Paget, Esq.
     HUNTON & WILLIAMS LLP
     Riverfront Plaza, East Tower
     951 East Byrd Street
     Richmond, Virginia  23219
     Telephone: (804) 788-8200
     Facsimile: (804) 788-8218  
     Email: tbrown@hunton.com
            jrsmith@hunton.com
            hlong@hunton.com
            jpaget@hunton.com

     -- and --

     David G. Heiman, Esq.
     Carl E. Black, Esq.
     Thomas A. Wilson, Esq.
     JONES DAY
     North Point
     901 Lakeside Avenue
     Cleveland, Ohio 44114
     Telephone: (216) 586-3939
     Facsimile: (216) 579-0212  
     Email: dgheiman@jonesday.com
            ceblack@jonesday.com
            tawilson@jonesday.com

          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.


ALVION PROPERTIES: UST Seeks to Compel Monthly Operating Reports
----------------------------------------------------------------
Nancy J. Gargula, the U.S. Trustee for Region 10, on March 29,
2016, filed with the U.S. Bankruptcy Court for the Southern
District of Illinois a motion to compel Alvion Properties, Inc., to
file monthly operating reports.

The U.S. Trustee notes that since commencing the Chapter 11 case on
May 14, 2015, the Debtor has been acting as a debtor-in-possession.
The Debtor has not confirmed its Chapter 11 Plan and is currently
seeking to dismiss the case.

The U.S. Trustee imposes certain operating requirements upon a
Chapter 11 debtor in carrying out its duty of supervising the
administration of Chapter 11 cases.  The U.S. Trustee requires that
Chapter 11 debtors provide the United States Trustee with certain
information, documents and payments.  

The U.S. Trustee tells the Court that the Debtor has failed to
comply with the United States Trustee's operating requirements.
Specific shortcomings include the failure to file the Monthly
Operating Reports for October, November and December 2015 as well
as for January and February 2016.  The March 2016 Monthly Operating
Report will be due on April 15, 2016.

In addition, according to the U.S. Trustee, although the Debtor has
made the payment of the minimum amount of the U.S. Trustee
Quarterly Fees, this minimal payment fails to take into account the
various disbursements made in December 2015 as part of the sale of
some of the assets of the Debtor.  Taking the sale disbursements
into account will increase the amount of the U.S. Trustee Quarterly
Fees that are due.

The U.S. Trustee points out that the officers of the Debtor are now
receiving monthly salaries and in fact have received previously
unpaid postpetition salaries.  Prior to continuing the payment of
the salaries to the officers and insiders of the Debtor, these
officers should be required to file the outstanding monthly
operating reports and have the Debtor, through the Disbursing
Agent, pay the correct amount of the U.S. Trustee Quarterly Fees.

The U.S. Trustee asks the Court to compel the Debtor and the
disbursing agent to cease paying the officers of the Debtor any
monies until such time as all outstanding monthly operating reports
are filed and the correct amount of the U.S. Trustee Quarterly Fees
paid.

The United States Trustee for Region 10 is represented by:

          Mark D. Skaggs
          United States Department of Justice
          Office of the United States Trustee
          401 Main Street, Suite 1100
          Peoria, Illinois 61602
          Tel: (309) 671-7854, ext.: 226
          Fax: (309) 671-7857
          E-mail: Mark.D.Skaggs@usdoj.gov

                      About Alvion Properties

Alvion Properties, Inc., is a Virginia corporation formed in 1995
with the placement of real property and mineral rights it owns
today.  Alvion owns 1,295 acres of undeveloped land, with
significant coal reserves along with timber and building stone, in
Scott County, Virginia.  Alvion also owns an additional 3,219 acres
of mineral rights in property north of its fee simple ownership.

The current stockholders are Harold M. (Jack) Reynolds and Shirley
Medley.  Mr. Reynolds owns several entities involved in the coal
business.  Shirley and her family also owned coal mines from 1970
to 2010.

Alvion Properties filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Ill. Case No. 15-40462) on May 14, 2015.  Karnes Medley, the
president, signed the petition.

The Debtor disclosed total assets of $1 billion and total debt of
$2.7 million in its petition.

Antonik Law Offices serves as the Debtor's counsel.

The meeting of creditors was held on June 17, 2015.

The U.S. trustee overseeing the Chapter 11 case appointed four
creditors to serve on the official committee of unsecured
creditors.  Pachulski Stang Ziehl & Jones LLP and Bryan Cave LLP
represent the Creditors Committee.


ANTIOCH CO: 6th Cir. Affirms Partial Summary Judgment to Directors
------------------------------------------------------------------
In the case captioned ANTIOCH COMPANY LITIGATION TRUST, W. Timothy
Miller, Trustee, Plaintiff-Appellant, v. LEE MORGAN; ASHA MORGAN
MORAN; LEE MORGAN GDOT TRUST #1; LEE MORGAN GDOT TRUST #2; LEE
MORGAN GDOT TRUST #3; LEE MORGAN POUROVER TRUST #1; LEE MORGAN
POUROVER TRUST #2; Defendants-Appellees, and CHANDRA ATTIKEN, et
al., Defendants, No. 14-3790 (6th Cir.), the United States Court of
Appeals for the Sixth Circuit affirmed the district court's order
granting partial summary judgment to the defendants with respect to
the claim for breach of fiduciary duty in connection with the
tender offer transaction.

After confirmation of Antioch Company's plan of reorganization, the
Antioch Company Litigation Trust, through its Trustee W. Timothy
Miller, commenced an adversary proceeding asserting various claims
on December 23, 2009.  The only unresolved claim is that the
defendants Lee Morgan and Asha Morgan Moran breached the fiduciary
duties they owed to Antioch, as directors and officers of the
corporation, by approving the tender offer transaction that closed
December 16, 2003 ("ESOP transaction") despite their conflicts of
interest and when it was not in the best interest of Antioch.

The district court granted summary judgment to the defendants.  The
district court found that the claim was barred by the statute of
limitations, and refused to extend or toll the limitations period
on the grounds of adverse domination, equitable tolling, or
equitable estoppel.

The Sixth Circuit held that the district court did not err in
concluding that the Ohio Supreme Court would not recognize adverse
domination as a basis to toll or extend the statute of limitations
applicable to a corporation's claim for breach of fiduciary duty by
its directors or officers under Ohio Revised Code section
2305.09(D).

The Sixth Circuit also agreed with the district court that there is
no support in Ohio law for the application of equitable tolling in
this case, nor authority for the district court to exercise its
inherent equitable power to toll the limitations period.

Lastly, the Sixth Circuit determined that the plaintiff failed to
make the required showing to toll the limitations period on the
grounds of equitabble estoppel.

A full-text copy of the Sixth Circuit's March 24, 2016 opinion is
available at http://is.gd/KRcagafrom Leagle.com.

                  About The Antioch Company

St. Cloud, Minn.-based scrapbook company The Antioch Company and
six affiliates filed for Chapter 11 bankruptcy (Bankr. D. Minn.
Case No. 13-41898) in Minneapolis on April 16, 2013.  Antioch
disclosed $10 million to $50 million in both assets and debts.

The affiliates that separate filed for Chapter 11 are Antioch
International-Canada LLC, Antioch International LLC, zeBlooms LLC,
Antioch Framers Supply LLC, Antioch International-New Zealand LLC,
and Creative Memories Puerto Rico, LLC.

Founded in 1926, Antioch and its affiliates make up one of the
world's preeminent suppliers of scrapbooks, related accessories,
and photo solutions for memory preservation through the direct
sales channel.  The Debtors also go by business names Creative
Memories, Antioch, Agenda, Antioch Publishing, Cottage Arts, Frame
of Mind and Webway.

Antioch has 200 employees and currently has operations through the
Debtor companies and foreign subsidiaries in the United States,
Canada, Japan, Australia, and New Zealand. In 2012, the Company's
net revenue was approximately $93.8 million and it had a net loss
of $3.7 million.

Antioch previously sought bankruptcy protection in 2008 (Bankr.
S.D. Ohio Case No. 08-35741).

In the 2013 case, the U.S. Trustee appointed a seven-member
creditors committee.  Faegre Baker Daniels LLP serves as its
counsel.  Crowe Horwath LLP serves as its financial advisor.

The Antioch Company, et al., and the Official Committee of
Unsecured Creditors, obtained confirmation on Nov. 14, 2013, of
their Second Amended Joint Plan of Reorganization dated Nov. 13,
2013.


APRICUS BIOSCIENCES: BDO USA Expresses Going Concern Doubt
----------------------------------------------------------
BDO USA, LLP in La Jolla, Calif., audited the consolidated balance
sheet of Apricus Biosciences, Inc. as of December 31, 2015 and the
related consolidated statements of operations, changes in
stockholders' (deficit) equity, and cash flows for the year then
ended.  The firm noted that the Company has negative working
capital and has suffered recurring losses and negative cash flows
from operations that raise substantial doubt about its ability to
continue as a going concern.

In its 2015 Annual Report on Form 10-K filed with the Securities
and Exchange Commission, Apricus Biosciences disclosed that the
Company experienced net losses and negative cash flows from
operations each year since its inception. The Company had an
accumulated deficit of approximately $308.9 million as of December
31, 2015 and recorded a net loss of approximately $19.0 million and
negative cash flows from operations for the year ended December 31,
2015. These factors raise substantial doubt about the Company's
ability to continue as a going concern. The Company has principally
been financed through the sale of its common stock and other equity
securities, debt financings and up-front payments received from
commercial partners for the Company's products under development.
As of December 31, 2015, the Company had cash and cash equivalents
of approximately $3.9 million.

In January 2016, the Company entered into subscription agreements
with certain purchasers pursuant to which it agreed to sell an
aggregate of 11,363,640 shares of its common stock and warrants to
purchase up to an additional 5,681,818 shares of its common stock
to the purchasers for an aggregate offering price of $10.0 million,
to take place in separate closings. Each share of common stock was
sold at a price of $0.88 and included one half of a warrant to
purchase a share of common stock. The warrants have an exercise
price of $0.88 per share, become exercisable six months and one day
after the date of issuance and will expire on the seventh
anniversary of the date of issuance. During the first closing in
January 2016, the Company sold an aggregate of 2,528,411 shares and
warrants to purchase up to 1,264,204 shares of common stock for
gross proceeds of $2.2 million. The remaining shares and warrants
were sold in a subsequent closing in March 2016 for gross proceeds
of $7.8 million following stockholder approval at a special meeting
on March 2, 2016. Prior to the Company's January 2016 financing,
its ability to issue equity under the committed equity financing
facility with Aspire Capital Fund, LLC was subject to the written
consent from one of the purchasers in the February 2015 financing.
Pursuant to the terms of the Company's January 2016 financing, the
Company is no longer required to obtain such consent.

On October 17, 2014, the Company entered into the Loan and Security
Agreement with Oxford Finance LLC and Silicon Valley Bank, which is
secured by substantially all of the Company's assets, excluding
intellectual property. Upon closing, a $5.0 million term loan was
funded. In July 2015, the Company borrowed the remaining $5.0
million available under its Credit Facility with the Lenders. The
principal balance under the Credit Facility was $9.5 million as of
December 31, 2015.

"Based upon our current operating plan and the access to additional
capital under our committed equity financing facility as of March
3, 2016, we believe we have sufficient cash to fund our base
operations through the third quarter of 2016," the Company said.

In order to fund its operations during the next twelve months, the
Company will need to raise substantial additional funds through one
or more of the following: issuance of additional debt or equity,
accessing additional capital under its committed equity financing
facility with Aspire Capital, or the completion of a licensing
transaction for one or more of its pipeline assets.

At Dec. 31, 2015, the Company had total assets of $7,855,000
against total liabilities of $17,799,000 and total stockholders'
deficit of $9,944,000.

A copy of the SEC report is available at http://is.gd/TYusw8

Apricus Biosciences has operated in the pharmaceutical industry
since 1995.  Its current focus is on the development and
commercialization of innovative products and product candidates in
the areas of urology and rheumatology.


AQGEN I: S&P Puts 'B' ICR on CreditWatch Positive
-------------------------------------------------
Standard & Poor's Ratings Services said it placed its 'B' issuer
credit ratings on AqGen Liberty Management I and AqGen Liberty
Management II on CreditWatch with positive implications.  S&P also
placed its 'B' issue-level ratings on CreditWatch with positive
implications.  The recovery rating on the debt remains at '3',
indicating S&P's expectation for meaningful recovery (50%-70%;
lower half of the range) of principal in the event of a payment
default.

The CreditWatch placement follows the announcement regarding the
sale of AqGen Liberty Management II (AssetMark) to Huatai
Securities Co. Ltd., a Chinese firm that provides financial
services, including securities brokerage, investment banking, asset
management, and consulting services, among others.  S&P expects
that, as a result of the acquisition, the senior secured credit
facility will be paid in full.

"Our current assessment of AqGen Liberty Management I [Altegris]
and AqGen Liberty Management II's financial risk profiles reflects
leverage above 5.0x.  Furthermore, we also cap AqGen I and AqGen
II's financial risk profiles as a result of their financial-sponsor
ownership," said Standard & Poor's credit analyst Brian Estiz.  "If
the sale to Huatai closes, we expect that AqGen I and AqGen II's
leverage will decline, and we believe the financial-sponsor
ownership cap could be removed for AqGen II."

S&P expects to resolve the CreditWatch once the transaction is
completed, which S&P expects to occur during the second half of
2016.  S&P anticipates that, as a result of the sale of AqGen II,
the senior secured credit facility will be paid in full, which
would have a positive impact on AqGen I and II's financial risk
profiles.

S&P expects that, following the conclusion of the sale to Huatai,
S&P could raise its issuer credit rating on AqGen I by one notch
given that, while leverage will decrease significantly, the
company's financial risk profile would still be capped as a result
of the financial-sponsor ownership.  In the case of AqGen II, S&P
anticipates that the upgrade could be more than one notch given
that the company would have no debt and S&P could remove the
financial-sponsorship cap.

However, if the transaction is not completed, S&P could affirm the
ratings and assign negative or stable outlooks.



ARCH COAL: Sec. 341 Meeting of Creditors Continued to April 18
--------------------------------------------------------------
Daniel J. Casamata, the Acting U.S. Trustee, announced that the
meeting of creditors of Arch Coal, Inc., et al., pursuant to 11
U.S.C. Sec. 341(a), has been continued to April 18, 2016 at 1:00
p.m. at the Office of U.S. Trustee, Thomas F. Eagleton U.S.
Courthouse, 111 South 10th Street, Suite 6.365A, St. Louis, MO
63102.

A representative of the Debtor is required to attend the meeting to
be questioned under oath.  Creditors may attend, but are not
required to do so.  The meeting may be continued or adjourned to a
later date.  If so, the date will be on the Court docket.

The meeting was originally scheduled for March 10.

                         About Arch Coal

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

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

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

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

An Official Committee of Unsecured Creditors has been appointed in
the case.  The Committee has retained Kramer Levin Naftalis &
Frankel LLP as counsel; Spencer Fane LLP as local counsel;
Berkeley
Research Group, LLC as financial advisor; Jefferies LLC as
investment banker; and Blackacre LLC as coal consultant.


ART AND ARCHITECTURE: Court Approves Second Amended Ch. 11 Plan
---------------------------------------------------------------
This Chapter 11 bankruptcy case came on for an evidentiary hearing
before the undersigned United States Bankruptcy Judge on February
3, 4, and 24, 2016, to address confirmation of the Second Amended
Plan of Reorganization of the Official Committee of Unsecured
Creditors, as modified by the modified plan filed as Docket No.
1859 filed by the Official Committee of Unsecured Creditors in the
Chapter 11 bankruptcy case of Debtor Art and Architecture Books of
the 21st Century.

Objections to confirmation of the Plan were filed by: (1) the
Debtor; (2) Jennifer Kellen and Douglas Chrismas; (3) the FTB who
appeared through Hutchinson Meltzer of the Attorney General's
Office of the State of California; (4) the MTA; and (5) Mr. DeWain
Valentine, an individual. The FTB's and MTA's objections were
resolved by agreed upon modifications to the Plan and the remaining
objections are overruled.

In an Order dated March 18, 2016, which is available at
http://is.gd/ohYkIhfrom Leagle.com, Judge Robert Kwan of the
United States Bankruptcy Court for the Central District of
California, Los Angeles Division, approved the Plan and will enter
an order confirming the Plan.

The Plan, according to Judge Kwan, satisfies all of the
requirements of Section 1129(a) of the Bankruptcy Code, except for
Section 1129(a)(8) with respect to impaired Class 8.  With respect
to Class 8, the Committee has satisfied the requirements of Section
1129(b).  No holder of a junior Claim or Equity Interest receives
or retains under the Plan on account of such junior Claim or Equity
Interest any property.

The case is In re: ART AND ARCHITECTURE BOOKS OF THE 21st CENTURY,
a California corporation, Chapter 11, Debtor, Case No.
2:13-bk-14135-RK (Bankr. C.D. Calif.).

Victor A. Sahn, Esq. -- vsahn@sulmeyerlaw.com -- Sulmeyer Kupetz,
David S. Kupetz, Esq. -- dkupetz@sulmeyerlaw.com -- Sulmeyer
Kupetz, Daniel A. Lev, Esq. -- dlev@sulmeyerlaw.com -- Sulmeyer
Kupetz, Asa S. Hami, Esq. -- ahami@sulmeyerlaw.com -- Sulmeyer
Kupetz, A Professional Corporation, Los Angeles, California
Attorneys for Official Committee of Unsecured Creditors.

Art and Architecture Books of the 21st Century, dba Ace Gallery,
filed for a voluntary Chapter 11 petition on Feb. 19, 2013, in the
U.S. Bankruptcy Court for the Central District of California, Case
No. 13-14135.  The petition was signed by Douglas Chrismas,
president.  Judge Robert Kwan presides over the case.  Joseph A.
Eisenberg, Esq., at Jeffer Mangels Butler & Mitchell LLP, serves
as counsel.  The Debtor reported $1 million to $10 million in
assets and $10 million to $50 million in debts.


ASP EMERALD: Moody's Affirms B2 CFR & Changes Outlook to Stable
---------------------------------------------------------------
Moody's Investors Service changed the outlook for ASP Emerald
Holdings, LLC, to stable from negative as a result of a decline in
leverage and improved performance.  Moody's also affirmed the
ratings of Emerald, including the Corporate Family Rating at B2 as
well as the B1 and Caa1 ratings of Emerald Performance Materials
LLC, first and second lien credit facilities, respectively.

"The change in Emerald's outlook reflects expectations for
continued leverage improvement through a combination of EBITDA
growth and debt reduction." said Lori Harris, Moody's lead analyst
for ASP Emerald.

Moody's took these actions:

ASP Emerald Holdings LLC

  Outlook: Stable from Negative

Emerald Performance Materials, LLC

  Outlook: Stable from Negative

Ratings affirmed:

ASP Emerald Holdings LLC

  Corporate family rating -- B2
  Probability of default rating -- B2-PD

Emerald Performance Materials, LLC

  5 year $75 million Senior Secured Revolver -- B1, LGD3
  7 year $550 million Senior Secured 1st Lien Term Loan -- B1,
   LGD3
  8 year $230 million Senior Secured 2nd Lien Term Loan -- Caa1,
   LGD5

                         RATINGS RATIONALE

Emerald's B2 CFR reflects its elevated leverage (5.6x for the LTM
September 30, 2015), modest size (revenues of roughly $715 million
for the LTM September 30, 2015), a limited operating history under
the current ownership and capital structure, and the potential for
event risk driven by the sponsor, American Securities.  The rating
also incorporates Moody's expectations for meaningful debt
reduction in 2017 as free cash flow improves following elevated
capital expenditures in 2016.  The business is uniquely structured
in that there is no CEO position and each of the four business
segments is run autonomously by a separate president, increasing
the possibility for a divestiture of one of Emerald's segments or
product lines.  While the credit agreement allows for such
divestitures (excluding the Kalama business), it also mandates that
proceeds must be partially used to reduce leverage by 0.5x from the
closing total net leverage ratio.  Though such a transaction would
be favorable in terms of leverage, the greater concentration of
earnings could be a credit negative.

The ratings are supported by the company's meaningful market
positions in many of its niche market segments, moderate product
portfolio diversity, expansion of material margins despite volatile
feedstock prices (toluene feed stocks costs represent roughly
one-third of Emerald's manufacturing costs), and a unique
opportunity for growth in non-phthalate plasticizers.  Emerald's
financial performance in 2015 benefited from the decline in
feedstock costs, which are tied to crude oil prices, and
significant international production assets.  While leverage is
elevated, Emerald has good liquidity and is well positioned to
cover its interest payments and capital expenditures.  Emerald's
geographical footprint (seven US manufacturing facilities, one
facility in the Netherlands, one facility in the United Kingdom and
a tolling operation in Argentina) and limited customer
concentration (no customer represents more than 6% of sales) are
also viewed as credit positives.  (All ratios include Moody's
Standard Adjustments.  Emerald's Adjustments for Pensions and
Operating Leases add $9.2 million to debt, primarily from the
capitalizing of operating leases.).

Emerald's liquidity is supported by its cash generating
capabilities evidenced by LTM retained cash flow of $80 million as
of September 30, 2015, and its $75 million senior secured revolver,
which is undrawn as of Sept. 30, 2015.  Cash on the balance sheet
is $9.5 million as of Sept. 30, 2015.  Additionally, Moody's
expects Emerald to generate over $85 million of retained cash flow
in 2016 which should be used to fund capital expenditures in 2016.
The $75 million, 5-year revolver, due 2019, has a springing first
lien leverage ratio of 6.9x when drawn more than 35%, with which
Emerald should be comfortably in compliance over the next 12-18
months.  The $550 million 7 year first lien term loan due 2021 has
a 50% excess cash flow sweep mechanism, with step-downs to 25% at
5.75x total net leverage and 0% at 5.25x total net leverage.  The
$230 million 8 year second lien term loan due 2022 does not contain
financial covenants.  Moody's expects capital expenditures to
remain elevated through 2016 due to planned capacity expansions,
thereafter Moody's expects capital expenditures to decrease in 2017
as capital spending programs are completed.  Typically capital
expenditures have averaged less than 4% of revenues over the past 7
years.  There is no regular dividend and Moody's expects that the
equity sponsor, American Securities, will direct all excess cash
for debt reduction as it has in other portfolio companies.

The stable outlook reflects Emerald's improving earnings that has
lowered financial leverage (5.6x for the LTM Sept. 30, 2015,
including Moody's Standard Adjustments).  The outlook also reflects
Emerald's favorable raw materials position and market dynamics that
should support its future earnings.

The rating has limited upside due to the small size of the company
as measured by revenues.  Moody's could contemplate a positive
ratings move if leverage were sustained below 4.5x, Retained Cash
Flow/Debt were above 15%, and sponsor's financial priorities would
allow the company to maintain these metrics and maintain its
product and geographic diversity.  The ratings could be lowered if
leverage goes sustainably above 6.0x , or if the company were to
divest a business segment and further concentrate earnings with
resulting leverage above 5.5x.

ASP Emerald Holdings LLC (Emerald), headquartered in Cuyahoga
Falls, Ohio is a producer of specialty chemicals used in a wide
range of food and industrial applications.  The company was
acquired in late-2014 by private equity firm American Securities
from prior private equity owner Sun Capital Partners Inc.  Emerald
reported sales of $715 million for the twelve months ended
Sept. 30, 2015.

The principal methodology used in these ratings was Global Chemical
Industry Rating Methodology published in December 2013.


AXION INTERNATIONAL: Plan Confirmation Hearing Set for May 9
------------------------------------------------------------
Judge Christopher Sontchi of the U.S. Bankruptcy Court for the
District of Delaware on April 5, 2016, approved the disclosure
statement explaining Axion International, Inc., et al.'s Chapter 11
Joint Plan of Liquidation and scheduled a hearing to consider
confirmation of such plan for May 9, 2016, at 10:00 a.m.
(prevailing Eastern time).

Under the Plan, holders of General Unsecured Claims are expected to
recover between 3% and 12% of their total allowed claims.

Any objections that have not previously been withdrawn or resolved
are overruled.  The Community Bank objected to the approval of the
Disclosure Statement, complaining that the Debtors provide no
detailed disclosure of the facts giving rise to colorable claims
against the Debtors' insider, or why those facts should now be
ignored in favor of permitting the insider to credit bid on the
Debtors' assets, and granting the Debtors' insider a release.
Moreover, the Bank complained that the Disclosure Statement also
fails to disclose, among other things, how the Debtors will
determine what assets the Debtors can actually sell with a credit
bid, how the Debtors will fund administrative expense claims, how
the Debtors will review and litigate claims, recover assets
transferred out of the estates after the Petition Date without
Court Order, or deal with post-petition tax claims asserted against
the Debtors' assets, provide for contingency for the creation of a
constructive trust, or provide for paying secured creditors in full
(even while funding general unsecured claims).  In 2013, the Bank
loaned to the Debtors pursuant to two term loans in the aggregate
principal amounts of $1,000,000 and $3,500,000.  As of January 29,
2016, the balance due on the Notes was $4,471,136.

The Voting Deadline is May 2, 2016.  The Plan Objection Deadline is
also May 2.  The Voting Agent is required to file its Tabulation
Affidavit no later than May 6.

A blacklined version of the First Amended Disclosure Statement
dated April 4, 2016, is available at
http://bankrupt.com/misc/AXIONds0404.pdf

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
          Tel: (302) 777-4200
          Fax: (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,
Esq., at the Law Offices of Sandra Mayerson.

Community Bank is represented by Christopher P. Simon, Esq., and
Kevin S. Mann, Esq., at Cross & Simon, LLC.


B. DIANE TAMARIZ-WALLACE: Nationwide Mutual Suit Remains Stayed
---------------------------------------------------------------
Judge J. Frederick Motz of the United States District Court for the
District of Maryland denied the motion filed by B. Diane
Tamariz-Wallace to lift the stay that has been entered in the case
captioned NATIONWIDE MUTUAL INSURANCE CO. v. B. DIANE
TAMARIZ-WALLACE, et. al., Civil No. JFM-09-667 (D. Md.).

Nationwide Mutual Insurance Co. asserted claims against
Tamariz-Wallace arising out of a failed insurance agency
relationship.  This was consolidated with a case that
Tamariz-Wallace filed also against Nationwide Mutual relating to
the same failed relationship.  When she filed for bankruptcy,
Tamariz-Wallace entered a notice of stay with the court, and the
"Nationwide Mutual" case was administratively closed "without
prejudice to the right of plaintiff(s) to move to reopen ... for
good cause shown."

Nationwide Mutual filed a proof of claim in the bankruptcy related
to its prior federal case.  There was no objection to Nationwide's
claims and so the claim was approved.

After the bankruptcy closed, Tamariz-Wallace sought to revive her
counterclaims against Nationwide Mutual.  Nationwide Mutual argued
that because Tamariz-Wallace's bankrupty has been resolved, and she
and the bankruptcy trustees failed to assert the claims she
attempts to revive, her claims are barred by the doctrine of res
judicata.

Judge Motz refused to reopen the case and litigate
Tamariz-Wallace's claim that has become stale.  Judge Motz
continued that it was not even clear that Tamariz-Wallace has any
standing to move to reopen the case because the order entered by
the court administrativly closing the case provided only that
"plaintiff(s)" could move to reopen it, and Tamariz-Wallace was a
defendant in this action.

A full-text copy of Judge Motz's March 9, 2016 memorandum is
available at http://is.gd/rXEwlbfrom Leagle.com.

Nationwide Mutual Insurance Company and Nationwide Bank are
represented by:

          Patricia McHugh Lambert, Esq.
          PESSIN KATZ LAW PA
          901 Dulaney Valley Road, Suite 500
          Towson, MD 21204
          Tel: (410)938-8800
          Fax: (410)832-5600
          Email: plambert@pklaw.com

            -- and --

          James Preston Schuck, Esq.
          Quintin F Lindsmith, Esq.
          Sommer L Sheely, Esq.
          BRICKER AND ECKLER LLP
          100 South Third Street
          Columbus, OH 43215-4291
          Tel: (614)227-2300
          Fax: (614)227-2390
          Email: jschuck@bricker.com
                 qlindsmith@bricker.com
                 ssheely@bricker.com

            -- and --

          Robin D Korte, Esq.
          HODES PESSIN AND KATZ PA
          Email: rkorte@selvinwrath.com

            -- and --

          Steven B Schwartzman, Esq.
          901 Dulaney Valley Rd
          Towson, MD 21204
          Tel: (410)938-8800
          Fax: (410)823-6017

B. Diane Tamariz-Wallace is represented by:

          John Michael Singleton, Esq.
          SINGLETON LAW GROUP
          1447 York Road, Suite 508
          Baltimore, MD 21093
          Tel: (410)902-0073
          Fax: (410)902-7372

            -- and --

          William Price Tedards, Jr., Esq.

Diane Tamariz & Associates, P.A. and Moran Insurance Services, Inc.
are represented by William Price Tedards, Jr., Esq.


BAKER O'NEAL: Couple Liable for 1998 Tax Addition
-------------------------------------------------
In a Memorandum Findings of Fact and Opinion dated March 14, 2016,
which is available at http://is.gd/GxOpK1from Leagle.com, the
United States Tax Court held petitioners James T. O'Neal, Jr., and
Sally L. O'Neal liable for the Section 6651(a)(1) addition to tax
for tax year 1998.

The Commissioner of Internal Revenue has determined deficiencies
and penalties with respect to the petitioners' Federal income tax
as follows:

Penalty Addition to tax Year Deficiency sec. 6663(a) sec.
6651(a)(1) 1994 $92,260 $69,195 -- 1995 341,497 256,123 -- 1996
357,357 268,018 -- 1997 1,168,411 876,308 -- 1998 516,579 387,434
$128,942

Section 6651(a)(1) provides for an addition to tax for failure to
timely file a return unless it is shown that such failure is due to
reasonable cause and not due to willful neglect.  The Petitioners
filed their 1998 tax return late on August 1, 2001, and respondent
has therefore met his burden of production, the Tax Court held.
The Petitioners did not address the section 6651(a)(1) addition to
tax in their brief and have offered no reasonable cause for their
failure to timely file their 1998 tax return.

The case is JAMES T. O'NEAL, JR., AND SALLY L. O'NEAL, Petitioners,
v. COMMISSIONER OF INTERNAL REVENUE, Respondent, Docket No.
3648-10, T.C. Memo. 2016-49 (Tax).

James T. O'Neal, Jr., and Sally L. O'Neal, pro se.

Laura A. Price, Esq., Mark J. Tober, Esq. and Lauren B. Epstein,
Esq. for respondent.


BIOCEPT INC: Mayer Hoffman Expresses Going Concern Doubt
--------------------------------------------------------
Mayer Hoffman McCann P.C. in San Diego, California, audited the
balance sheets of Biocept, Inc. as of December 31, 2015 and 2014,
and the related statements of operations and comprehensive loss,
shareholders' equity/(deficit) and cash flows for the years then
ended.  The firm noted that the Company has incurred recurring
losses from operations and is dependent on future financings to
fund operations. These conditions raise substantial doubt about its
ability to continue as a going concern.

In its 2015 Annual Report on Form 10-K filed with the Securities
and Exchange Commission, Biocept disclosed that as of December 31,
2015, cash and cash equivalents totaled $8.8 million. At December
31, 2014 and 2015, the Company had accumulated deficits of $138.3
million and $155.2 million, respectively. For the years ended
December 31, 2014 and 2015, the Company incurred net losses of
$15.9 million and $16.9 million, respectively.

The Company borrowed a total of $0.5 million during the year ended
December 31, 2014 under note agreements with certain shareholders
and a line of credit. In addition, the Company borrowed $5.0
million during the year ended December 31, 2014 under the April
2014 Credit Facility. At December 31, 2015, the Company had
aggregate gross interest-bearing indebtedness of approximately $5.6
million, of which approximately $2.1 million was due within one
year in the absence of subjective acceleration of the April 2014
Credit Facility by Oxford Finance LLC, in addition to approximately
$1.6 million of accounts payable and accrued liabilities.

In February 2016, the Company signed a firm, noncancelable, and
unconditional commitment in an aggregate amount of $1,062,500 with
a vendor to purchase certain inventory items, payable in quarterly
installments of $62,500 through May 2020.  

According to Biocept, "While the Company is currently in the
commercialization stage of operations, the Company has not yet
achieved profitability and anticipates that it will continue to
incur net losses in the foreseeable future. Historically, the
Company's principal sources of cash have included proceeds from the
issuance of common and preferred stock, proceeds from the exercise
of warrants to purchase common stock, proceeds from the issuance of
debt, and revenues from clinical laboratory testing through
contracted partners. The Company's principal uses of cash have
included cash used in operations, payments relating to purchases of
property and equipment and repayments of borrowings. The Company
expects that the principal uses of cash in the future will be for
continuing operations, hiring of sales and marketing personnel and
increased sales and marketing activities, funding of research and
development, capital expenditures, and general working capital
requirements. The Company expects that, as revenues grow, sales and
marketing and research and development expenses will continue to
grow, albeit at a slower rate and, as a result, the Company will
need to generate significant net revenues to achieve and sustain
income from operations."

On February 13, 2015, the Company received net cash proceeds of
$9.1 million as a result of the closing of a follow-on public
offering, before deducting $0.3 million of additional
non-underwriting costs incurred. Subsequent to the closing of the
follow-on public offering on February 13, 2015 and through March 3,
2016, additional cash proceeds of $9.8 million have been received
from the exercise of warrants sold in such offering. On December
21, 2015, the Company received net cash proceeds of $958,000 as a
result of a common stock purchase agreement with Aspire Capital
Fund, LL, or Aspire Capital, with approximately $14.0 million, or
up to 2,984,122 shares, available to be issued to Aspire Capital
under this agreement as of March 3, 2016.

In May 2015, the SEC declared effective a shelf registration
statement filed by the Company. The shelf registration statement
allows the Company to issue any combination of its common stock,
preferred stock, debt securities and warrants from time to time for
an aggregate initial offering price of up to $50 million, subject
to certain limitations for so long as the Company's public float is
less than $75 million. As of December 31, 2015, the Company had not
sold any securities under this shelf registration statement.  The
specific terms of future offerings, if any, under this shelf
registration statement would be established at the time of such
offerings.

In order to continue as a going concern, the Company will need,
among other things, additional capital resources. Until the Company
can generate significant cash from operations, including assay
revenues, management's plans to obtain such resources for the
Company include proceeds from offerings of the Company's equity
securities or debt, or transactions involving product development,
technology licensing or collaboration. Management can provide no
assurances that any sources of a sufficient amount of financing
will be available to the Company on favorable terms, if at all.

At Dec. 31, 2015, the Company had total assets of $10,586,918
against total liabilities of $6,894,183 and total shareholders'
deficit of $3,692,735.

A copy of the Company's SEC report is available at
http://is.gd/YkXb5W

Biocept, Inc., is a commercial-stage cancer diagnostics company
developing and commercializing proprietary circulating tumor cell,
or CTC, and circulating tumor DNA, or ctDNA, assays utilizing a
standard blood sample to improve the treatment that oncologists
provide to their patients by providing better, more detailed
information on the characteristics of their tumor.


BOMBARDIER INC: Egan-Jones Cuts Sr. Unsecured Rating to B-
----------------------------------------------------------
Egan-Jones Rating Company lowered the senior unsecured rating on
debt issued by Bombardier Inc. to B- from BB- on March 23, 2016.
EJR also lowered its rating on the commercial paper issued by the
Company to B from A3.

Headquartered in Montreal, QC, Canada, Bombardier Inc. operates in
the fields of aerospace, rail transportation equipment, financial
services, and services related to its products and core business.
The Company operates plants in North America, Europe, and Asia.



BON-TON STORES: Egan-Jones Cuts Sr. Unsecured Rating to CCC-
------------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured rating on
debt issued by The Bon-Ton Stores Inc. to CCC- from CCC on March
17, 2016.

The Bon-Ton Stores, Inc. sells moderately priced, brand name
fashions and accessories for men, women, and children.  The Company
also sells cosmetics, jewelry, china, housewares, and other items
through its chain department stores.



BONNIE & CLYDE'S: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------------
Debtor: Bonnie & Clyde's Wexford, Inc.
        6400 Brookside Court, Suite 360
        Wexford, PA 15090

Case No.: 16-21380

Chapter 11 Petition Date: April 11, 2016

Court: United States Bankruptcy Court
       Western District of Pennsylvania (Pittsburgh)

Judge: Hon. Gregory L. Taddonio

Debtor's Counsel: Robert O Lampl, Esq.
                  ROBERT O LAMPL, ATTORNEY AT LAW
                  960 Penn Avenue, Suite 1200
                  Pittsburgh, PA 15222
                  Tel: 412-392-0330
                  Fax: 412-392-0335
                  E-mail: rol@lampllaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mark E. Baranowski, shareholder.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pawb16-21380.pdf


BREITBURN ENERGY: Egan-Jones Cuts Sr. Unsecured Rating to CCC+
--------------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured rating on
debt issued by Breitburn Energy Partners LP to CCC+ from B- on
March 18, 2016.  EJR also cut the rating on commercial paper issued
by the Company to C from B.

BreitBurn Energy Partners L.P. is an independent oil and gas
partnership focused on the acquisition, exploitation and
development of oil and gas properties. The Company primarily
manages its oil and gas producing properties for the purpose of
generating cash flow and making distributions to its unitholders.



BROOKLYN RENAISSANCE: Settles Hamilton Claims for $3.3-Mil.
-----------------------------------------------------------
Brooklyn Renaissance LLC asks the U.S. Bankruptcy Court to approve
a settlement agreement with Hamilton Van Brunt LLC, which agreement
resolves all pending disputes between the parties, substantially
compromises and reduces Hamilton's secured claim in the Chapter 11
case, and permits the sale of the property in New York.

The Debtor is the holder of both legal and equitable interests in a
real property known as 300 Van Brunt Street in Brooklyn, New York,
which is deeded from Brooklyn Heritage, LLC, an affiliate of the
Debtor, to a minor, Annabelle McGowan, for no consideration. This
conveyance is subject to the right of the Debtor to purchase the
property back from Annabelle for $100,000, at the Debtor's option,
which will be paid in connection with a future sale.

According to the Debtor, while Hamilton commenced its Foreclosure
Action to enforce its right on the loan documents assigned to it by
PAF Capital LLC, the Debtor commenced in an adversary proceeding
against Hamilton.  However, the Court dismissed the Adversary
Complaint upon Hamilton's motion, which led to the filing of
Hamilton's Proof of Claim in the amount of $3,342,228 secured
against 300 Van Brunt.

The Debtor relates that it has a Purchase and Sale Agreement with
The Other Half LLC for $1,800,000.

The Settlement Agreement can be summarized as follows:

   a. The Hamilton POC is allowed as a secured claim against 300
Van Brunt in the current Chapter 11 Case in the amount of
$3,342,228.

   b. Hamilton agrees that the sum of $100,000 may be paid from the
proceeds of the sale of 300 Van Brunt to the guardian of Annabelle,
as appointed by the Surrogate's Court of the State of New York,
County of Kings, in order for the Debtor to exercise the Option.

   c. Hamilton further agrees that the sum of $100,000 may be paid
from the proceeds of the sale of 300 Van Brunt to the Debtor. The
Debtor will also be paid at closing a sum equivalent to all
transfer tax savings the Debtor might obtain under 1146(a) of the
Bankruptcy Code.

   d. Upon either (a) receipt of the net sale proceeds by Hamilton
or (b) transfer of the deed, all other liens, claims and interests
of any kind that Hamilton may have or hereafter asserted against
Brooklyn Heritage, Annabelle, Amy Hicks as guardian for Annabelle,
James McGowan, the Debtor, and the Debtor’s estate, including but
not limited to the Claims contained in the Hamilton POC, are deemed
waived, released, expunged, null and void and of no further force
and effect.

   e. If the sale of 300 Van Brunt fails to close with The Other
Half LLC or any other higher and better bidders, then the Debtor
agrees to deed 300 Van Brunt to Hamilton in lieu of foreclosure for
a payment of $200,000 ($100,000 to Annabelle and $100,000 to the
Debtor) and up to $10,000 to the Auctioneer and the Plan shall
provide the same.

   f. In the event Annabelle is unable to transfer the deed to 300
Van Brunt by the earlier of either April 10, 2016 or the date by
which the Surrogate’s Court for the State of New York, County of
Kings, permits Annabelle to transfer the deed to 300 Van Brunt, the
undersigned defendants in the Foreclosure Action shall consent to
Judgment of Foreclosure and Sale in the Foreclosure Action and
shall in no way oppose Hamilton in the Foreclosure Action or file a
further bankruptcy, which shall be memorialized in a separate
Stipulation of Forbearance between the parties to the Foreclosure
Action to be executed in conjunction with this Stipulation. In the
event Annabelle is unable to transfer the deed to 300 Van Brunt,
and Hamilton proceeds with its rights and remedies in the
Foreclosure Action, then the Debtor shall receive the sum of (i)
$150,000 if a foreclosure sale of 300 Van Brunt occurs on or before
September 22, 2016 or $100,000 if a foreclosure sale of 300 Van
Brunt occurs on or before February 22, 2017 or $75,000 if a
foreclosure sale of 300 Van Brunt occurs on or before July 22,
2017.

The Debtor asserts that the Settlement Agreement gives it an
opportunity to satisfy the Hamilton POC at a huge discount,
estimated at 45% of the proof of claim amount and carve out a
distribution for the Debtor's estate, without which the Debtor
would be mired in continued administratively draining litigation in
the Foreclosure Action with no certainty of success and
jeopardizing the Debtor's estate of zero recovery in the event that
Hamilton's entire claim were allowed as a secured claim and
encompass all of the equity in 300 Van Brunt.

Brooklyn Renaissance LLC is represented by:

     Jonathan S. Pasternak, Esq.
     Julie Cvek Curley, Esq.
     Erica Feynman Aisner, Esq.
     DELBELLO, DONNELLAN, WEINGARTEN, WISE & WIEDERKEHR, LLP
     One North Lexington Avenue, 11th Floor
     White Plains, New York 10601
     Telephone: (914) 681-0200
     Email: jcvek@ddw-law.com
            jsp@ddw-law.com
            efeynman@ddw-law.com

         About Brooklyn Renaissance

Brooklyn Renaissance, LLC, which manages various parcels of real
property located in Kings, New York and Suffolk County, New York,
sought Chapter 11 bankruptcy protection (Bankr. E.D.N.Y. Case No.
15-43122) on July 6, 2015 in Brooklyn. James McGown, the managing
member, signed the petition. The case is assigned to Judge Nancy
Hershey Lord.

The Debtor estimated $10 million to $50 million in assets and less
than $10 million in debt.

The Debtor tapped Jonathan S. Pasternak, Esq., at DelBello
Donnellan Weingarten Wise & Wiederkehr, LLP, in White Plains, New
York, as counsel.


BROOKS RUN: Lone Wolfe Suit Stayed Pending Bankruptcy
-----------------------------------------------------
Judge Joseph R. Goodwin of the United States District Court for the
Southern District of West Virginia, Charleston Division, denied the
motion filed by Arley Johnson to dismiss the case captioned LONE
WOLFE NATURAL RESOURCE SERVICES INC., Plaintiff, v. ARLEY JOHNSON,
Defendant, Civil Action No. 2:16-cv-1701 (S.D.W. Va.).

Judge Goodwin concluded that the case should be stayed pending the
conclusion of the related bankruptcy proceedings.

On November 2, 2015, Lone Wolfe Natural Resource Services Inc.
filed a proof of claim against the debtor Brooks Run Mining Company
LLC, in the United States Bankruptcy Court for the Eastern District
of Virginia, claiming it is owed $141,606.10 for "construction of
mine road," which pertained to its construction services at Brooks
Run's Sumter Mine near Erabacon, West Virginia.

On January 15, 2016, Lone Wolfe filed a complaint in the Circuit
Court of Nicholas County, West Virginia against Arley Johnson, an
employee of Maxxim Shared Services LLC who Lone Wolfe claimed "had
the authority to authorize payment of Lone Wolfe's billings and
failed or refused to authorize payment of the said invoice."  Lone
Wolfe alleged that Johnson's actions were done "with malice toward
Lone Wolfe and constitute tortious interference by Johnson with
Lone Wolfe's construction agreement contract with Brooks Run."  On
February 8, 2016, Johnson removed the case to the United States
District Court for the Southern District of West Virginia and filed
a motion seeking dismissal of the complaint on various grounds.

Based on the allegations in the complaint, Judge Goodwin found that
Johnson was being sued in his capacity as an agent for Brooks Run.
The judge explained that this falls squarely within the "unusual
circumstances" warranting a stay since "judgment against the
third-party defendant will in effect be a judgment or finding
against the debtor."  Moreover, the judge also found that based on
Johnson's representations, finding that Johnson is liable would
trigger the indemnification responsibilities of another debtor,
Maxxim Shared Services.

Accordingly, Judge Goodwin stayed further proceedings on the case
pending resolution of the related bankruptcy proceedings.

A full-text copy of Judge Goodwin's March 18, 2016 memorandum
opinion and order is available at http://is.gd/A8ITJPfrom
Leagle.com.

Lone Wolfe Natural Resource Services, Inc. is represented by:

          Harley E. Stollings, Esq.
          Jason A. Proctor, Esq.
          James W. Lane, Jr., Esq.
          FLAHERTY SENSABAUGH & BONASSO
          200 Capitol Street
          Charleston, WV 25301
          Tel: (304)345-0200
          Fax: (304)345-0260
          Email: jproctor@flahertylegal.com
                 jlane@flahertylegal.com

Arley Johnson is represented by:

          Melissa Dodd Veltri, Esq.
          Richard J. Bolen, Esq.
          DINSMORE & SHOHL
          611 Third Avenue
          Huntington, WV 25701
          Tel: (304)529-6181
          Fax: (304)522-4312
          Email: melissa.veltri@dinsmore.com
                 richard.bolen@dinsmore.com


CAESARS ENTERTAINMENT: CEOC Inks Non-Disclosure Agreement
---------------------------------------------------------
BankruptcyData reported that Caesars Entertainment Operating
Company (CEOC) announced that, in connection with the commencement
of a mediation process intended to move its bankruptcy
restructuring proceedings forward, CEOC and its Chapter 11 Debtor
subsidiaries executed a non-disclosure agreement with certain
beneficial holders of debt issued by CEOC, as well as certain of
their non-Debtor affiliates.

According to the report, CEOC states, "The Debtors are focused on a
path towards emergence from Chapter 11, and are hopeful that the
mediation process will be an important step in building consensus
for a resolution to our financial restructuring process by
facilitating discussion and negotiation among the Debtors' key
stakeholders."

                   About Caesars Entertainment

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

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

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

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

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

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

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

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


CBAC GAMING: Moody's Lowers CFR to Caa1, Outlook Negative
---------------------------------------------------------
Moody's Investors Service downgraded CBAC Gaming, LLC's CFR to Caa1
from B3 and assigned a negative rating outlook.

The downgrade and negative outlook reflects lower than Moody's
expected EBITDA generated at the company's only casino property,
Horseshoe Baltimore, in its first full year of operation, and high
leverage (debt/EBITDA 8.2x), said Moody's analyst, Peggy Holloway.
Additionally, the risk that restructuring and litigation activity
surrounding Caesars Entertainment Operating Company (CEOC) and its
parent, Caesars Entertainment Corp (CEC) could have a negative
impact on CBAC contributed to the rating action.

Ratings downgraded:

  Corporate Family rating to Caa1 from B3

  Probability of Default rating to Caa2-PD from Caa1-PD

  Senior secured revolver and term loans to Caa1 (LGD-3) from
  B3 (LGD-3)

                         RATINGS RATIONALE

CBAC's Caa1 Corporate Family Rating (CFR) reflects the company's
small, geographically concentrated operations, the threat of new
competition (MGM's National Harbor casino) that opens in late 2016,
and weaker than Moody's expected operating results in 2015.
Additionally, CBAC (41% indirectly owned by Caesars Growth
Partners, LLC which is a joint venture between CEC and Caesars
Acquisition Company (CAC)) could be adversely impacted by the
ongoing bankruptcy of CEOC and related litigation in light of the
March 15, 2016, independent examiners report filed in the U.S.
Bankruptcy Court.  The examiners' report alleges the sale of CEOC's
interest in CBAC was for less than full value -- leaving the
company vulnerable to monetary damages.  In 2015, revenues in the
Baltimore market area were hurt by civil unrest that reduced
visitation causing CBAC to underperform relative to initial
expectations in its first full year of operation; the facility
opened in August 2014.  Leverage measured by debt/EBITDA on a lease
adjusted basis was 8.2 times in 2015, about one turn higher than
expected.  Revenues at the facility are up double digits in the
first quarter of 2016, and the company has achieved its fair share
within the market.  Thus, we expect the company can reduce leverage
to around 7.0 times by year-end 2016.  However, Moody's expects
earnings will be hurt in 2017 by new competition which will cause
leverage to increase slightly until the supply is absorbed.
Nevertheless, CBAC is expected to generate sufficient cash flow to
support interest, mandatory debt amortization and maintenance
capital spending needs.  Additionally, CBAC is expected to hold
excess cash of at least $30M over its minimum needs of $7 - $10
million.

The ratings could be upgraded if CBAC can reduce and maintain
debt/EBITDA to around 6.5 times and there is tangible evidence that
the company will not be adversely impacted by unfolding events at
CEOC.  Ratings could be downgraded if leverage rises above 8.25
times or if restructuring or litigation activity negatively impacts
the company in any way.

CBAC Gaming, LLC is a joint venture between Caesars Growth
Partners, LLC, Rock Gaming, Caves Valley Partners, STRON-MD and PRT
Two.  Caesars Growth Partners, LLC is owned by Caesars Acquisition
Co and Caesars Entertainment Co.  CBAC developed and opened the
Horseshoe Baltimore casino in Baltimore, MD on Aug. 26, 2014.
Horseshoe Baltimore features over 2,200 slot machines, including
150 video poker machines, a 25-table WSOP Poker Room and over 150
table games.  Caesars Growth Partners, LLC, indirectly owns 41% of
the property and CEOC manages the property.

The principal methodology used in these ratings was Global Gaming
Industry published in June 2014.


CENTRAL OKLAHOMA: Patient Care Ombudsman's Employment Terminated
----------------------------------------------------------------
The Hon. Tom R. Cornish of the U.S. Bankruptcy Court for the
Western District of Oklahoma signed off an agreed order between
Central Oklahoma United Methodist Retirement Facility, Inc., doing
business as Epworth Villa, and Deborah Burian, the duly appointed
substitute patient care ombudsman, for:

   -- for final allowance and payment of compensation and
reimbursement of expenses on behalf of the PCO; and
   -- for termination of the PCO's employment in the case as of
Dec. 31, 2015.

The application sought interim and final allowance and payment of
fees and expenses incurred by the PCO in the amount of $3,210 and
$1,881, respectively, for July 1, 2015, through Dec. 31, 2015,
totaling $5,091.  Included in the expenses requested are fees and
expenses advanced of Andrews Davis, P.C. in the amount of $1,692.

The source of payment for this requested compensation will be from
the $7,000 retainer advanced by Epworth Villa and currently being
held in trust by the PCO.  The excess remaining after payment of
fees and expenses allowed as requested in the application will be
immediately refunded by the PCO to Epworth Villa.

              About Central Oklahoma United Methodist

Formed in 1986 and affiliated with the Oklahoma Conference of the
United Methodist Church, Central Oklahoma United Methodist
Retirement Facility, Inc., is a not-for-profit corporation that
owns Epworth Villa, a continuing care retirement community for
persons age 62 and older, located at 14901 N. Pennsylvania Avenue,
Oklahoma City, Oklahoma.  Presently, Epworth Villa includes 264
independent living units (cottages and apartment homes), 118
assisted living units with maximum capacity of 130 beds, and 87
nursing care beds.  The corporation's sole member is Epworth
Living, Inc.

Epworth Villa is currently undergoing a renovation and expansion
project that is projected to be completed in early Summer of 2015.
The construction, renovation and expansion of its facilities are
financed through revenue bonds under the bond indenture from the
Oklahoma County Finance Authority to BancFirst, as indenture
trustee.  Those obligations, in the aggregate principal Petition
Date amount of $87,835,000, are secured by a mortgage and security
interest in the Facility and other assets of Epworth Villa's
estate.

Epworth Villa sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. W.D. Okla. Case No. 14-12995) on July 18, 2014.

The Chapter 11 case has been reassigned to Judge Tom R. Cornish,
according to an April 15, 2015 order.

The Debtor tapped Gable & Gotwals, P.C., in Oklahoma City,
Oklahoma, as general bankruptcy counsel.

In amended schedules, the Debtor disclosed total assets of
$117,659,919 and total liabilities of $108,037,034 as of the
Chapter 11 filing.

On Aug. 13, 2014, the Office of the United States Trustee
appointed
E. Marissa Lane as the Patient Care Ombudsman in this case.


CHARTER SCHOOL: S&P Assigns BB Rating on 2016A/B Revenue Bonds
--------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' rating to La
Paz Industrial Development Authority, Ariz.'s series 2016A and
2016B education facility lease revenue bonds, issued for Charter
School Solutions (CSS).  The outlook is stable.

Charter School Solutions' mission is to support Harmony Public
Schools (Harmony) and other charter educational organizations that
have licensing agreements with Harmony.  The lease payments on this
series of bonds are dependent on payments from Albuquerque School
of Excellence (ASE).  S&P based its rating on the series 2016 bonds
on the rating on ASE.

"The rating reflects our view of ASE's strong demand profile and
above-average academics," said Standard & Poor's credit analyst
Luke Gildner.  "In our view, the school benefits from a solid
governance and management team and is well positioned to meet its
growth projections and generate higher operating surpluses and
maximum annual debt service coverage."  However, the school's
current financial health is characterized by low levels of
unrestricted cash, which S&P believes provides limited flexibility
for any operating pressures. Although operations have produced
consistent surpluses, pro forma maximum annual debt coverage (MADS)
coverage is slim.  S&P's analysis of fiscal 2015 financial
performance is based on unaudited results provided by management.
S&P understands the release of the 2015 audit has been delayed due
to issues with the state's department of education financial
statement, of which ASE is a component unit.

Management plans to use the proceeds of the bonds to acquire the
building the school currently occupies as well as fund renovations
for additional classroom space and other academic facilities.  The
stable outlook reflects S&P's view that ASE will maintain a strong
demand profile and meet its growth projections.  Given strong
governance and management oversight, S&P anticipates that operating
performance will remain at least break-even on a full accrual
basis.

Given the limited flexibility stemming from the schools modest
financials, any unanticipated enrollment declines, operating
challenges, or cash outlays in the next year could result in a
negative rating action.

A higher rating is unlikely during the outlook period because of
the strained liquidity position, which S&P anticipates will remain
modest in the next year.  However, S&P could raise the rating in
the longer term if the school sustains healthier MADS coverage and
the liquidity positon grows to a level commensurate with a higher
rating.



CINCINNATI TERRACE: Hires Ten-X as Auctioneer
---------------------------------------------
Cincinnati Terrace Plaza Retail, LLC, seeks authority from the U.S.
Bankruptcy Court for the District of New Jersey to employ Ten-X,
LLC as auctioneer to the Debtor, nunc pro tunc to February 25,
2016.

Cincinnati Terrace requires Ten-X to market, promote, and assist in
the sale of the Debtor's assets via online real estate auction
platform.

Ten-X will charge for its services on a commission basis.

According to the declaration of Anthony Falor, Ten-X is a
disinterested person under Section 101(14) of the Bankruptcy Code.

Ten X can be reached at:

     Anthony Falor
     TEN-X, LLC
     One Mauchly
     Irvine, CA 92618
     Tel: (949) 609-5376

                         About Cincinnati Terrace

Cincinnati Terrace Plaza Retail, LLC, and its affiliated entities,
Cincinnati 926 Hotel, LLC and Cincinnati 926 Office, LLC, together
own real property located at 15 West 6th Street, Cincinnati, Ohio
and commonly known as Terrace Plaza. Terrace Plaza is a 19-story
commercial mixed-use building consisting of a total of 600,000
square feet of space. The building is currently occupied by retail
tenants on the ground floor, floors two through seven are purposed
for office tenants, and floors eight through nineteen is purposed
for hotel rooms. Only the retail portion of the building is
occupied. Cincinnati Terrace Plaza Retail is the owner of the
ground floor retail space.

At the behest of mortgage holder Madison Realty Investments, Inc.,
the state court appointed Prodigy Properties, LLC, as receiver for
the Property. The receiver conducted a sale process and Madison was
the high bidder at sale with a credit bid of $7,000,000.

Cincinnati Terrace Plaza Retail, LLC, based in Cincinnati, Ohio,
filed for Chapter 11 bankruptcy (Bankr. D.N.J. Case No. 16-13384)
on Feb. 25, 2016, to regain control of the property. The petition
was signed by Lionel Nazario, member.

David L. Stevens, Esq., at Scura, Wigfield, Heyer & Stevens, LLP,
serves as the Debtor's counsel. The case is assigned to Judge
Vincent F. Papalia.

Cincinnati Terrace estimated $10 million to $50 million in assets;
and $1 million to $10 million in liabilities.


COLUMBIA SPORTSWEAR: Egan-Jones Issues NR Status on Unsec. Debt
---------------------------------------------------------------
Egan-Jones Rating Company entered a No Rating status on senior
unsecured debt issued by Columbia Sportswear Co on March 22, 2016.

Columbia Sportswear Company is a United States company that
manufactures and distributes outerwear and sportswear. It was
founded in 1938 by Paul Lamfrom.



CUMULUS MEDIA: Egan-Jones Cuts Sr. Unsecured Debt Rating to CCC+
----------------------------------------------------------------
Egan-Jones Rating Company downgraded the senior unsecured rating on
debt issued by Cumulus Media Inc. to CCC+ from B- on March 22,
2016.  EJR also lowered the rating on commercial paper issued by
the Company to C from B.

Cumulus Media, Inc. is an American broadcasting company and is the
second largest owner and operator of AM and FM radio stations in
the United States.



DARDEN RESTAURANT: Moody's Puts Ba1 CFR on Review for Upgrade
-------------------------------------------------------------
Moody's Investors Service placed the ratings of Darden Restaurant,
Inc., on review for upgrade including its $150 million senior
unsecured notes and $300 million senior unsecured notes rated Ba1.
In addition, Moody's placed the company's Ba1 Corporate Family
Rating (CFR) and Ba1-PD Probability of Default (PDR) rating on
review for upgrade.  Darden's Speculative Grade Liquidity rating is
SGL-2.

The review for upgrade reflects Darden's improved earnings
performance with positive same store sales trends at the company's
core brands Olive Garden and LongHorn.  The review for upgrade also
reflects Darden's material scale, geographic reach and brand
diversity within the US and good liquidity.

"The review for upgrade will focus on Darden's commitment to a more
moderate financial policy and its ability to drive a sustained
improvement in operating earnings that will results in credit
metrics and liquidity that support a higher rating" stated Bill
Fahy, Moody's Senior Credit Officer.

Ratings placed on review for upgrade are:

   -- Corporate Family Rating rated Ba1
   -- Probability of Default Ratings rated Ba1-PD
   -- $150 million senior unsecured notes due 2035 rated Ba1
      (LGD4)
   -- $300 million senior unsecured notes due 2037 rated Ba1
      (LGD4)
   -- Senior Unsecured shelf rating rated (P)Ba1
   -- Short term commercial paper program rated not prime
   -- Medium Term Note Program rating rated (P)Ba1

                            RATINGS RATIONALE

Factors that could result in upward ratings pressure include a
sustained improvement in operating performance and same store sales
- particularly traffic -- across all concepts as well as new
management developing a track record of managing the balance sheet
prudently.  Quantitatively, a higher rating would require leverage
on a debt to EBITDA basis migrating towards 3.0 times, EBITA
coverage of interest of over 4.0 times and retained cash flow to
debt of around 25%.

Factors that could result in a downgrade include continued
deterioration in same store sales - particularly at Olive Garden,
and if debt levels increase to support returns to shareholder
without a commensurate improvement in earnings.  A downgrade would
likely occur if leverage approaches 4.0, EBITA to interest to drop
towards 3.0 times or if there were no improvement in retained cash
flow to debt on a sustained basis.

Darden Restaurants Inc. owns and operates about 1,535 restaurants
under brands that include Olive Garden, LongHorn Steakhouse, Yard
House, The Capital Grille, Bahama Breeze, Eddie V's, and Seasons
52.  Annual revenues are about $6.9 billion.

The principal methodology used in these ratings was Restaurant
Industry published in September 2015.



DEFINED DIAGNOSTICS: Case Summary & 11 Unsecured Creditors
----------------------------------------------------------
Debtor: Defined Diagnostics, LLC
           fka 32 Mott Street Acquisition II, LLC
           fka Wellstat Diagonostics, LLC
           fka Wellstat Diagnostics, LLC
        930 Clopper Road
        Gaithersburg, MD 20878

Case No.: 16-10890

Chapter 11 Petition Date: April 12, 2016

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

Debtor's Counsel: Paul V. Shalhoub, Esq.
                  WILLKIE FARR & GALLAGHER LLP
                  787 Seventh Avenue
                  New York, NY 10019-6099
                  Tel: (212) 728-8764
                  Fax: (212) 728-8111
                  E-mail: maosbny@willkie.com
                         pshalhoub@willkie.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $50 million to $100 million

The petition was signed by Nadine H. Wohlstadter, managing member.

A list of the Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nysb16-10890.pdf


DELTA PRODUCE: Appeal from Fee Award Must be Junked, 5th Cir. Rules
-------------------------------------------------------------------
This attorney's fee dispute has its roots in the Perishable
Agricultural Commodities Act (PACA), a Depression-era statute
designed to protect sellers of perishable produce from delinquent
purchasers. Two such purchasers, Delta Produce, L.P., and Superior
Tomato-Avocado, filed for bankruptcy and the bankruptcy court
appointed special counsel Craig Stokes -- an attorney who had
previously represented the debtors -- and various PACA claimants to
collect and disburse funds to PACA-protected sellers that had
claims against the purchasers-turned-debtors.

Stokes filed three fee applications: two interim applications for
$95,978 plus $2,492.97 in expenses, and $62,807, respectively, and
a third and final fee application for $206,371 plus $15,911.02 in
expenses, which included $74,526 for a successful mediation.

Kingdom Fresh objected to all three applications, arguing that the
bankruptcy court lacked jurisdiction to disburse PACA trust assets
that are not part of the bankruptcy estate and that Stokes could
not be paid out of the PACA trust but was instead limited to
recovering from the debtor's estate.

The district court vacated the bankruptcy court's fee award. The
question is: can special counsel's fees and expenses be disbursed
from the PACA fund?

In a Decision dated March 11, 2016, which is available at
http://is.gd/F4yO09from Leagle.com, the United States Court of
Appeals for the Fifth Circuit vacated the district court's order
vacating the first two fee awards for lack of jurisdiction and
remanded with instructions to dismiss the appeal of that order.  It
also affirmed the court's order vacating the final fee award but
only as to Kingdom Fresh's pro rata share of the fees.

The appeal is KINGDOM FRESH PRODUCE, INCORPORATED; I. KUNIK
COMPANY, INCORPORATED; FIVE BROTHERS JALISCO PRODUCE COMPANY,
INCORPORATED, doing business as Bonanza 2001; RIO BRAVO PRODUCE,
LIMITED COMPANY, L.L.C.; G.R. PRODUCE, INCORPORATED, Appellees
Cross-Appellants, v. STOKES LAW OFFICE, L.L.P., Appellant
Cross-Appellee In the Matter of: DELTA PRODUCE, L.P.; SUPERIOR
TOMATO-AVOCADO, LIMITED; ATLED, LIMITED; STACI PROPERTIES, LIMITED,
Debtors KINGDOM FRESH PRODUCE, INCORPORATED; I. KUNIK COMPANY,
INCORPORATED; FIVE BROTHERS JALISCO PRODUCE COMPANY, INCORPORATED,
doing business as 300 Bonanza 2001; RIO BRAVO PRODUCE, LIMITED
COMPANY, L.L.C.; G.R. PRODUCE, INCORPORATED, Appellees, v. STOKES
LAW OFFICE, L.L.P., Appellant,No. 14-51079, Consolidated with
14-51080 (5th Cir.), relating to In the Matter of: DELTA PRODUCE,
L.P.; STACI PROPERTIES, LIMITED, Debtors.

Delta Produce, L.P. filed a voluntary Chapter 11 petition (Bankr.
W.D. Tex. Case No. 12-50073) on Jan. 3, 2012.  On the same day,
Superior Tomato-Avocado, Ltd. filed a voluntary Chapter 11
petition (Case No. 12-50074).  On Jan. 19, 2012, the Bankruptcy
Court entered an order directing that the two cases be jointly
administered.


DEMCO INC: Hires Katz & Fierro as Accountants
---------------------------------------------
Demco, Inc., sought and obtained permission from the U.S.
Bankruptcy Court for the Western District of New York to employ
Katz & Fierro, LLP CPAS as accountants to the Debtor.

Demco Inc. requires Katz & Fierro to prepare the Debtor's Federal
income tax returns as well as its New York State tax return and all
other states in which the Debtor is required to file tax returns
for the years ending December 30, 2013, 2014 and 2015. Katz &
Fierro will also provide other accounting, tax and/or financial
services as the Debtor and Katz & Fierro may, from time-to-time,
deem necessary or appropriate.

Katz & Fierro will be paid at these hourly rates:

   Christopher Fierro, CPA JD       Principal          $200.00
   Jonathan Katz                    Principal          $200.00
   Various                          Senior Associate   $150.00

According to the declaration of Christopher P. Fierro, Katz &
Fierro is a disinterested person under Section 101(14) of the
Bankruptcy Code.

Katz & Fierro can be reached at:

     Christopher P. Fierro
     Katz & Fierro, LLP CPAS
     Tel: (516) 708-1913
     E-mail: fierro@katzfierro.com

                          About Demco Inc.

Demco, Inc., aka Decommissioning & Environmental Management
Company, is a specialty trade contractor based in West Seneca, New
York, which provides demolition services, nuclear work,
environmental clean-up, disaster response and a variety of other
services throughout the United States and, on a project-by-project
basis, internationally.  Some of Demco's better known demolition
projects in the past have included the Rocky Flats Nuclear Power
Plant, Yankee Stadium, the Orange Bowl, Buffalo Memorial
Auditorium, and the Sunflower Army Ammunition Plant.

Demco filed for Chapter 11 protection (Bankr. W.D.N.Y. Case No.
12-12465) on Aug. 6, 2012. Bankruptcy Judge Michael J. Kaplan
presides over the case. Daniel F. Brown, Esq., at Andreozzi,
Bluestein, Fickess, Muhlbauer Weber, Brown, LLP, represents the
Debtor in its restructuring effort. Freed Maxick CPAs, P.C. serves
as its accountants, and Horizons Consulting, LLC, serves as its tax
consultants. The petition was signed by Michael J. Morin,
controller.

Tracy Hope Davis, the U.S. Trustee for Region 2, appointed three
creditors to serve on the Official Committee of Unsecured
Creditors. The Committee retained Amigone, Sanchez & Mattrey, LLP
as its counsel.

First Niagara Bank, the cash collateral lender, is represented by
William F. Savino, Esq., at Damon Morey.


DIVERSE ENERGY: Hires Robinson as Real Estate Broker
----------------------------------------------------
Diverse Energy Systems, LLC, et al., seek authority from the U.S.
Bankruptcy Court for the Southern District of Texas to employ
Robinson & Associates Real Estate as real estate broker to the
Debtors.

Debtor Rouly Inc. owns certain real property commonly known as 1506
W. Broadway Place, Hobbs, New Mexico 88240.  Rouly wants to hire
Robinson to assist it in marketing and selling that property.

The services to be provided by Robinson are:

   -- full MLS exposure including cooperation with other
      brokerages;

   -- provide and disburse information sheets describing property
      to possible buyers and other commercial brokers;

   -- highly visible signage identifying property for sale;

   -- LoopNet.com exclusive listing with free viewing access from
      brokers and investors;

   -- mail out flyers to local EDC and Camber members (business
      owners).

The firm will require compensation equal to 6% of the total amount
of the purchase plus New Mexico Gross Receipt Tax (NMGRT) upon
closing. The agreement has a 12-month term.

Robbie Robinson, real estate broker and owner of Robinsons &
Associates Real Estate, 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.

Robinsons can be reached at:

     Robbie Robinson
     ROBINSONS & ASSOCIATES REAL ESTATE
     3319 N. Grimes, Suite B,
     Hobbs, NM 88240
     Tel: (575) 390-7073

                      About Diverse Energy

Diverse Energy Systems, LLC, et al., filed Chapter 11 bankruptcy
petitions (Bankr. S.D. Tex. Lead Case No. 15-34736) on Sept. 7,
2015. The jointly administered cases have been assigned to Judge
Karen K. Brown.

Forshey Prostok LLP serves as the Debtor's counsel. SSG Advisors,
LLC serves as the Debtor's financial and restructuring advisor. The
Debtor tapped Gordon Brothers Asset Advisors, LLC as appraiser.

Diverse is the indirect parent of ITS Engineered Systems, Inc. ITS
filed a voluntary petition for relief under Chapter 11 of the
Bankruptcy Code on April 17, 2015. ITS's bankruptcy case is
currently pending in this Court as Case No. 15-32145.

Diverse is a provider of integrated solution platforms for upstream
and midstream customers in the natural gas production, oil
production, and water treatment industries.

On Oct. 5, 2015, Diverse disclosed total assets of $15,836,103 and
total liabilities of $3,261,959.

On Dec. 22, 2015, Diverse filed a motion to extend the period of
time during which it alone holds the right to file a Chapter 11
plan. Diverse proposed to extend its exclusive right to file a plan
to April 4, 2016, and to solicit votes from creditors to June 3,
2016.

The extension, if approved, would prevent others from filing rival
plans in court and maintain Diverse's control over its bankruptcy
case.

The Debtors closed on the sale of certain assets to Cimarron
Acquisition Co. on Jan. 29, 2016.


DJO FINANCE: Moody's Lowers CFR to Caa1, Outlook Stable
-------------------------------------------------------
Moody's Investors Service downgraded DJO Finance LLC's Corporate
Family Rating to Caa1 from B3 and its Probability of Default Rating
to Caa1-PD from B3-PD.  At the same time, Moody's downgraded DJO's
senior secured credit facilities' rating to B1 from Ba3, second
priority senior secured notes' rating to Caa2 from Caa1, and senior
secured global notes' rating to Caa3 from Caa2.  The rating outlook
is stable.  The Speculative Grade Liquidity Rating was affirmed at
SGL-3.

The rating action reflects the company's operating performance
weakness and deterioration of credit metrics beyond Moody's
previous expectations.  This is partially attributable to headwinds
within DJO's Recovery Sciences division which ultimately led to
DJO's decision to exit its Empi business, which has faced declining
reimbursement rates for its key product, TENS.  As a result, the
company's near-to-intermediate-term credit metrics are unlikely to
improve to levels that would support the previous rating.  For the
year ended Dec. 31, 2015, DJO's adjusted financial leverage was
approximately 10 times.

Following is a summary of Moody's rating actions:

DJO Finance LLC:

Ratings downgraded:

  Corporate Family Rating to Caa1 from B3

  Probability of Default Rating to Caa1-PD from B3-PD

  Senior secured first lien term loans, to B1 (LGD 2) from Ba3
   (LGD 2)

  Senior secured second priority notes, to Caa2 (LGD 5) from Caa1
   (LGD 5)

  Senior secured global notes, to Caa3 (LGD 6) from Caa2 (LGD 6)

Ratings affirmed:

  Speculative Grade Liquidity Rating, SGL-3

The rating outlook is stable.

                         RATINGS RATIONALE

DJO's Caa1 Corporate Family Rating reflects the company's very high
financial leverage, limited coverage of interest expense and
negligible free cash flow.  Moody's expects the company's near-term
financial metrics to remain weak, despite gradual improvement due
to higher EBITDA contributions from newly launched products and
cost savings initiatives following the exit of the company's Empi
business.  Without a material improvement in EBITDA growth, Moody's
believes the capital structure would be unsustainable.  The ratings
are supported by DJO's solid scale and market position across many
of the company's product lines, and good revenue diversity by
customers and geographies.  The ratings are also supported by the
company's adequate liquidity profile and no near-term debt
maturities.

The stable outlook reflects our view that the company's credit
metrics will slightly improve over the next 12 to 18 months due to
new product launches and cost reduction initiatives related to the
exit of the Empi business.  The stable outlook also reflects our
expectation that the company will maintain at least an adequate
liquidity profile.

The ratings could be upgraded if top-line and EBITDA growth
improves credit metrics, and Moody's expects adjusted debt to
EBITDA to improve to below 7.0 times on a sustained basis.

The ratings could be downgraded if downward pressure on EBITDA
accelerates such that leverage increases, or if operating margins,
cash flow, or liquidity deteriorate.  In addition, the ratings
could be lowered if the company engages in material debt-financed
acquisitions or shareholder distributions.  Further, the ratings
could be downgraded if the company faces any adverse impact from
the OIG investigation into Empi supplies administered under
TRICARE, or if the company faces additional reimbursement pressures
from CMS for additional orthotics products.

The principal methodology used in these ratings was Global Medical
Product and Device Industry published in October 2012.

Based in Vista, California, DJO Finance LLC is a developer,
manufacturer and distributor of medical devices that provide
solutions for musculoskeletal health, vascular health and pain
management.  The company also develops, manufactures and
distributes a broad range of reconstructive joint implant products.
The company's products are used to treat patients with
musculoskeletal conditions resulting from degenerative diseases,
deformities, traumatic events and sports related injuries.  Many of
the company's non-surgical devices are also used by athletes and
individuals for injury prevention and at-home physical therapy
treatment.  DJO is owned by private equity sponsors Blackstone
Capital Partners V L.P.  For the year ended Dec. 31, 2015, DJO
generated net sales of approximately $1.1 billion.


DUCOMMUN INC: Moody's Withdraws B1 CFR for Business Reasons
-----------------------------------------------------------
Moody's Investors Service has withdrawn all ratings for Ducommun,
Inc., including the B1 Corporate Family Rating, B2-PD Probability
of Default Rating, B1(LGD3) rating on the senior secured revolving
credit facility due 2020, B1(LGD3) rating on the senior secured
delayed draw term loan due 2020 and SGL-2 Speculative Grade
Liquidity rating.

                         RATINGS RATIONALE

Moody's has withdrawn the ratings for its own business reasons.



DVORKIN HOLDINGS: Order Approving Trustee's Sec. 363 Motion Vacated
-------------------------------------------------------------------
This appeal arises from an adversary proceeding in the bankruptcy
of Debtor Dvorkin Holdings, LLC , a real estate development firm
based in Palos Heights, Illinois.

Dvorkin declared bankruptcy shortly after its founder, Daniel
Dvorkin, was charged with hiring a hit man to kill a creditor who
had won an $8.2 million judgment against him.  Appellant ColFin
Bulls Funding A, LLC, a secured creditor, filed a proof of claim
with the bankruptcy court in November 2012.  ColFin's proof of
claim included, among other things, the so-called "Lombard Claim":
approximately $1 million owed to ColFin by Dvorkin, secured by a
mortgage against a parcel located in Lombard, Illinois.  Shortly
after filing the claim, ColFin reached an agreement with the
estate's trustee, Gus A. Paloian: the Trustee would sell the
Lombard property, and ColFin would release its mortgage in return
for the net proceeds of the sale, so long as the property sold for
a minimum amount to be identified in another agreement.  But the
settlement agreement had a shelf-life.  If no sale occurred by
April 12, 2015, the parties agreed that the agreement would
automatically terminate and the parties would be "restored to their
respective rights, remedies and obligations existing immediately
before" signing the agreement.

The Trustee and ColFin also entered into a second contract -- the
broker selection agreement -- which provided for the hiring of a
real-estate broker and set the minimum sale price for the Lombard
parcel at $1.7 million. But this agreement had an even earlier
expiration date: December 31, 2014. New Year's Eve came and went
without a sale, and the parties never established another minimum
sale price. As the April 12, 2015 deadline approached without an
interested buyer, the Trustee sought the approval of the bankruptcy
court to use estate funds to enable the Debtor itself to purchase
the Lombard parcel for $1.7 million. ColFin objected, arguing that
the sale violated the settlement agreement and the broker selection
agreement because the parties no longer had an agreement on price
after December 31, 2014. Trustee countered that the bankruptcy
court need not reach ColFin's objections in order to authorize
Debtor's purchase. The court approved the Trustee's proposed use of
estate funds over ColFin's objection, giving rise to this appeal.

In a Memorandum Opinion and Order dated March 14, 2016, which is
available at http://is.gd/DmWRMufrom Leagle.com, Judge Rebecca R.
Pallmeyer of the United States District Court for the Northern
District of Illinois, Eastern Division, vacated the bankruptcy
court's order approving the Trustee's Section 363(b) motion and
remanded the case for further proceedings consistent with the
opinion.

The case is In re: DVORKIN HOLDINGS, LLC, Debtor. COLFIN BULLS
FUNDING A, LLC Appellant, v. GUS A. PALOIAN, Trustee Appellee, No.
15 C 3118, Bankr. Case No. 12-31336 (JPC) (N.D. Ill.).

Colfin Bulls Funding A, LLC, Appellant, is represented by Jerry
Lewis Switzer, Jr., Esq. -- jswitzer@polsinelli.com -- Polsinelli
PC & Jean Soh, Esq. -- jsoh@polsinelli.com -- Polsinelli PC.

Gus A. Paloian, Appellee, is represented by Gus Anthony Paloian,
Esq. -- gpaloian@seyfarth.com -- Seyfarth Shaw LLP, Bret M Harper,
Esq. -- bharper@seyfarth.com -- Seyfarth Shaw LLC & James B. Sowka,
Esq. -- gpaloian@seyfarth.com -- Seyfarth Shaw LLP.

Service List, represented by U.S. Bankruptcy Court, Clerk, Clerk.

Service List, represented by United States Trustee, Office of the
United States Trustee.

Service List, represented by Pamela S. Hollis, US Bankruptcy
Court.

                 About Dvorkin Holdings

Dvorkin Holdings, LLC, is a real estate holding company that
possesses or possessed ownership interests in 70 real properties,
either directly or indirectly through limited liability companies
or land trusts.  Dvorkin Holdings has interests in 40 non-debtor
entities.

Dvorkin Holdings filed a Chapter 11 petition (Bankr. N.D. Ill.
Case No. 12-31336) in Chicago on Aug. 7, 2012.  The Debtor
disclosed $69.9 million in assets and $9.30 million in liabilities
as of the Chapter 11 filing.  Michael J. Davis, Esq., at Archer
Bay, P.A., in Lisle, Ill., serves as counsel to the Debtor.  The
petition was signed by Loran Eatman, vice president of DH-EK
Management Corp.

The Bankruptcy Court in October 2012 granted the request of
Patrick S. Layng, the U.S. Trustee for the Northern District of
Illinois, to appoint Gus Paloian as the Chapter 11 Trustee.

Seyfarth Shaw, LLP, represents the Chapter 11 Trustee as counsel.
Carpenter Lipps & Leland LLP represents the Chapter 11 Trustee as
conflicts counsel.

On March 16, 2015, the Clerk of the Court reassigned the case to
U.S. Bankruptcy Judge Jacqueline P. Cox.


EAST ORANGE: Court Approves Joint Administration of Cases
---------------------------------------------------------
The Hon. Vincent F. Papalia of the U.S Bankruptcy Court for the
District of New Jersey directed the joint administration of the
Chapter 11 cases of East Orange General Hospital, Inc., et al., for
procedural purposes only.

The cases will be jointly administered under East Orange General
Hospital, Inc., lead case no. 15–31232.

As reported by the Troubled Company Reporter on Nov. 17, 2015,
according to the Debtors, joint administration will obviate the
need for duplicative notices, motions, and orders, and thereby
save considerable time and expense.  The Debtors add that
joint administration will permit the Clerk of the Court to use a
single general docket for both of their cases and to combine
notices to creditors of each Debtor's estate and other
parties-in-interest.

The Debtors intend to file a consolidated monthly operating report,
but will separately set forth disbursements for each Debtor as a
schedule to the extent required by the United States Trustee
Operating Guidelines, with said reports to be filed in the lead
case, rather than in each of the Debtor's individual cases.

                     About East Orange General

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

East Orange General Hospital, Inc. and parent Essex Valley
Healthcare, Inc. filed Chapter 11 bankruptcy petitions (Bankr. D.
N.J. Case Nos. 15-31232 and 15-31233, respectively) on Nov. 10,
2015.  Martin A. Bieber, the interim president and chief executive
officer, signed the petitions.  

East Orange General Hospital, Inc., in an amended summary disclosed
total assets of $36,686,168 adtotal liabilities of $37,374,246.  It
previously disclosed total assets of $36,686,168 and total
liabilities of $37,376,204.

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

Judge Vincent F. Papalia has been assigned the case.

The Debtors employ approximately 860 individuals.

As reported by the Troubled Company Reporter on March 31, 2016,
Judge Vincent F. Papalia has authorized East Orange General
Hospital to change its name to EOGH Liquidation, Inc. in relatin to
the sale of substantially all of the Debtors' assets to Prospect
EOGH, Inc.  The Sale closed as of Feb. 29, 2016.


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

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


EAST ORANGE: May 9 Fixed as Governmental Unit Claims Bar Date
-------------------------------------------------------------
The Hon. Vincent F. Papalia of the U.S. Bankruptcy Court for the
District of New Jersey established May 9, 2016, at 5:00 p.m., as
the deadline for any governmental unit to file proofs of claim
against East Orange General Hospital, Inc., et al.

The Court has set Feb. 26, 2016, as the general claims bar date.

Proofs of claim must be submitted to the Debtors' claims and
noticing agent at this address:

         East Orange General Hospital, Inc., et al.
         c/o Prime Clerk LLC
         830 Third Avenue, 9th Floor
         New York, NY 10022

                     About East Orange General

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

East Orange General Hospital, Inc. and parent Essex Valley
Healthcare, Inc. filed Chapter 11 bankruptcy petitions (Bankr. D.
N.J. Case Nos. 15-31232 and 15-31233, respectively) on Nov. 10,
2015.  Martin A. Bieber, the interim president and chief executive
officer, signed the petitions.  T

East Orange General Hospital, Inc., in an amended summary disclosed
total assets of $36,686,168 adtotal liabilities of $37,374,246.  It
previously disclosed total assets of $36,686,168 and total
liabilities of $37,376,204.

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

Judge Vincent F. Papalia has been assigned the case.

The Debtors employ approximately 860 individuals.

As reported by the Troubled Company Reporter on March 31, 2016,
Judge Vincent F. Papalia has authorized East Orange General
Hospital to change its name to EOGH Liquidation, Inc. in relatin to
the sale of substantially all of the Debtors' assets to Prospect
EOGH, Inc.  The Sale closed as of Feb. 29, 2016.


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

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


EAST ORANGE: Trustee Names Laura L. Katz as Patient Care Ombudsman
------------------------------------------------------------------
Andrew R. Vara, Acting U.S. Trustee for Region 3, appointed Laura
L. Katz as the patient care ombudsman in the Chapter 11 case of
East Orange General Hospital, Inc., and its debtor affiliates.

The appointment is pursuant to an order dated Nov. 23, 2015,
directing the appointment of a patient care ombudsman.

The PCO will:
   
   1) monitor the quality of patient care provided to patients of
the Debtor, to the extent necessary under the circumstances,
including interviewing patients and physicians;

   2) not later than 60 days after the date of the appointment, and
not less frequently than at 60-day intervals thereafter, report to
the court after notice to the parties-in-interest, at a hearing or
in writing, regarding the quality of patient care provided to
patients of the debtor;

   3) if such ombudsman determines that the quality of patient care
provided to patients of the Debtor is declining significantly or is
otherwise being materially compromised, file with the court a
motion or a written report, with notice to the parties-in-interest
immediately upon making such determination; and

   4) will maintain any information obtained by such ombudsman
under Section 333 of the Bankruptcy Code that relates to patients
(including information relating to patient records) as confidential
information.  The ombudsman may not review confidential patient
records unless the Court approves such review in advance and
imposes restrictions on such ombudsman to protect the
confidentiality of the records.

Ms. Katz may be reached at:

         Laura L. Katz, Esq.
         Saul Ewing
         500 E. Pratt Street, Suite 900
         Baltimore, MD 21202
         Tel: (410) 332-8804
         Fax: (410) 332-8805
         Email: lkatz@saul.com

The U.S. Trustee is represented by:

         Martha R. Hildebrandt, Esq.
         Mitchell B. Hausman, Esq.
         One Newark Center, Suite 2100
         Newark, NJ 07102
         Tel: (973) 645-3014
         Fax: (973) 645-5993
         E-mails: Martha.Hildebrandt@usdoj.gov
                  Mitchell.B.Hausman@usdoj.gov

                     About East Orange General

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

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

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

Judge Vincent F. Papalia has been assigned the case.

The Debtors employ approximately 860 individuals.

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

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


ELC HEALTH: Case Summary & 20 Largest Unsecured Creditors
---------------------------------------------------------
Debtor: ELC Health Care LLC
        1925 N. Harlem Ave, Suite 108
        Elmwood Park, IL 60707

Case No.: 16-12347

Chapter 11 Petition Date: April 11, 2016

Court: United States Bankruptcy Court
       Northern District of Illinois (Chicago)

Judge: Hon. Janet S. Baer

Debtor's Counsel: Matthew L Stone, Esq.
                  SCHNEIDER & STONE
                  8424 Skokie Blvd, Suite 200
                  Skokie, IL 60077
                  Tel: 847-933-0300
                  E-mail: mstone@windycitylawgroup.com
                          ben@windycitylawgroup.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Irish Malaga, authorized
representative.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-12347.pdf


EMERALD OIL: Meeting of Creditors Scheduled for April 15
--------------------------------------------------------
The U.S. Trustee for the District of Delaware will convene a
meeting of creditors in the Chapter 11 cases of Emerald Oil, Inc.,
et al., on April 15, 2016, at 10:00 a.m.  The meeting will be held
at the J. Caleb Boggs Federal Building; 844 King Street; 2nd Floor,
Room 2112; Wilmington, Delaware.

Emerald is a Denver-based independent exploration and production
company that is focused on acquiring acreage and developing wells
in the Williston Basin of North Dakota.

Emerald Oil, Inc., Emerald DB, LLC, Emerald NWB, LLC, Emerald WB
LLC and EOX Marketing, LLC filed separate Chapter 11 bankruptcy
petitions (Bankr. D. Del. Case Nos. 16-10704 to 16-10708) on March
22, 2016.  Ryan Smith signed the petitions as chief financial
officer.

The Debtors have hired Kirkland & Ellis LLP and Kirkland & Ellis
International LLP as general bankruptcy counsel, Pachulski Stang
Ziehl & Jones LLP as local counsel, Intrepid Financial Partners,
LLC as investment banker, Opportune LLP as restructuring advisor
and Donlin Recano & Company, Inc., as claims and noticing agent.

Judge Kevin Gross has been assigned the cases.


ERICKSON INCORPORATED: Moody's Lowers CFR to Caa1, Outlook Neg.
---------------------------------------------------------------
Moody's Investors Service downgraded its ratings assigned to
Erickson Incorporated ("Erickson", f/k/a Erickson Air-Crane
Incorporated): Corporate Family to Caa1 from B2, Probability of
Default to Caa1-PD from B2-PD, Senior Secured Second Lien to Caa2
from B3, and Speculative Grade Liquidity rating to SGL-4 from
SGL-3.  The ratings outlook is negative.

Moody's has taken these actions:

Issuer: Erickson Incorporated

  Corporate Family Rating, downgraded to Caa1 from B2;

  Probability of Default rating, downgraded to Caa1-PD from B2-PD

  Senior Secured Second Lien Notes due 2020, downgraded to Caa2
   from B3 (LGD4);

  Speculative Grade Liquidity rating, downgraded to SGL-4 from
   SGL-3.

The ratings outlook is negative.

                         RATINGS RATIONALE

The downgrade of the Corporate Family Rating to Caa1 better aligns
the ratings with Erickson's credit profile, based on projected
credit metrics and a weak liquidity position characterized by
negative free cash flow, a reliance on the revolver, and limited
covenant headroom and availability under the company's revolving
credit facility.  The downgrade also reflects the execution risk in
the company's strategy to turnaround its operations from the weak
performance sustained following its acquisition of Evergreen
Helicopters Inc (EHI).  Factors such as underestimating the capital
needed to improve the operability of the acquired aircraft, quicker
than anticipated reductions in demand by US Department of Defense
organizations, and limited success in expanding the commercial
customer base and diversifying beyond the company's pure legacy
air-crane and heavy lift operations have led to declines in
revenues and earnings, weakened liquidity and credit metrics that
do not support the B2 rating.

Moody's believes the company's current strategy designed by its
relatively new CEO, who joined in April 2015, paves a path towards
better operating results and improved financial condition.  Moody's
anticipates, however, that this will be a multi-year effort.  New
sales managers with experience in the company's targeted verticals
have been hired.  Erickson has, or will, exit services where it
lacks a competitive advantage, far off-shore oil platforms as an
example.  The company will continue evaluating its cost structure
to become more cost-efficient.  Moody's believes that Erickson will
seek to expand its MRO services, focused on global support of
particular out-of-production rotary aircraft that have large
installed bases, such as the company's Bell 214 helicopter program.
It will also pursue organic growth internationally, including the
leveraging of its expertise in air-crane services.

The Caa1 Corporate Family rating reflects the potential for credit
metrics to marginally strengthen into 2017, aided by cost
management and some revenue enhancement from recent contract wins.
The rating also considers that the success of the company's
strategy relies on new markets and customers amid slowing global
economic growth that pressures government budgets and the
competitive response of incumbents in the markets in which Erickson
seeks to focus.  Additionally, the unknown growth potential of the
security segment, particularly covering work for the U.S.
Department of Defense and the extent to which the market for
helicopter services is underserved could derail the company's
progress.  As well, over 30% of Erickson's aircranes and over 50%
of its fixed wing, medium and light lift aircraft (mostly
helicopters) were operable but not in revenue service as of
Dec. 31, 2015.  Moody's believes that finding sustained work for
the available aircraft will be challenging, particularly as most
contracts are competitively bid by multiple service providers.

Moody's expects that the few recently-announced contract awards or
extensions and a focus on controlling G&A, working capital and
capital investment will support a positive inflection in credit
metrics into 2017.  Moody's believes that company will remain
focused on managing its costs to achieve at least breakeven free
cash flow to alleviate its reliance on the $140 million revolving
credit, due in May 2018.  The cyclical nature of demand across its
core air-crane service lines, including fire-fighting, logging and
infrastructure construction also contribute to the risk profile.

The SGL-4 rating reflects Erickson's weak liquidity profile,
heightened by the limited ability of internally generated cash to
meet debt service requirements and tight covenant and revolver
availability.

The two-notch downgrade in the rating assigned to the second lien
notes, using Moody's Loss Given Default rating methodology,
reflects a reduction in the first loss position provided by the
notes and higher revolver drawings, following the two-notch
downgrade of the CFR.

The negative outlook reflects Moody's expectation of continuing
execution risk in the company's strategy to turnaround its
operations as well as the company's weak liquidity profile, which
leaves limited room for error.

A downgrade could occur if the company is unable to access its
revolver due to borrowings that lead to the testing of its fixed
charge coverage covenant.  Inability to increase utilization of
aircraft to support earnings growth and strengthen its credit
metrics, such that free cash flow remains negative could also lead
to a downgrade.  Debt to EBITDA that is sustained above 7 times,
FFO + Interest to Interest below 1 times, and Retained Cash Flow to
Net Debt of less than 6% could also pressure the ratings.

A positive rating action could follow if Debt to EBITDA and FFO +
Interest to Interest approach the low to mid 6 times and 2 times,
respectively, on a sustained basis.  Positive free cash flow
generation that grows revolver availability in excess of $35
million could also support an upgrade as could successful execution
of the strategy.

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

Erickson is a leading global provider of aviation services
specializing in government services, legacy aircraft MRO and
manufacturing, and commercial services such as firefighting, HVAC,
power line, specialty, construction, oil and gas, and timber
harvesting.  Erickson operates a fleet of approximately 75
rotary-wing (light, medium, and heavy) and fixed-wing aircraft,
including 20 heavy-lift S-64 Aircranes.  Founded in 1971, Erickson
is headquartered in Portland, Oregon, and maintains operations in
North America, South America, Europe, the Middle East, Africa, Asia
Pacific, and Australia.  Erickson is a publicly traded company and
a majority of its outstanding shares are owned by entities
affiliated with ZM Equity Partners, LLC.


ESTATE FINANCIAL: Modifies Exculpation Provisions in Plan
---------------------------------------------------------
Thomas P. Jeremiassen, the Chapter 11 trustee of Estate Financial,
Inc., and the Official Committee of Unsecured Creditors appointed
in the case, filed a Third Amended Liquidating Plan and Disclosure
Statement to modify Article 11.5 of the Plan and to make a
corresponding, substantially identical change to Section V.F. of
the Disclosure Statement.  The modification, which was with respect
to the exculpation provisions in the Plan, was made in consultation
with the United States Trustee.

Section V.F., as modified, provides that the exculpation provisions
will not exculpate any act or omission, forbearance from action,
decision, or exercise of discretion taken after the Effective Date
by an attorney to the extent such exculpation would violate the
California Rules of Professional Conduct, or by a Professional, the
Trustee or the Liquidating Trustee to the extent that inclusion of
such exculpation in the Plan is later determined to have been
prohibited by 11 U.S.C. Sec. 1125(e).

Copies of the Third Amended Plan and Disclosure Statement are
available at:

http://bankrupt.com/misc/Est_Financial_3641_3rd_Am_Plan_BL.pdf

                     3% for Unsec. Creditors.

As reported in the April 4, 2016 edition of the TCR, Thomas P.
Jeremiassen, Chapter 11 trustee for Estate Financial, Inc., and the
Creditors Committee are proposing a Chapter 11 plan that says
unsecured creditors estimated to have allowed claims of $150
million will split $5 million.

Over $39 million already has been paid to investor-creditors from
the sales of real estate.  Although these prior distributions are
the bulk of what the Proponents believe will be distributed through
the case, it is time to press for conclusion of the Case and to
finally be able to make distributions in respect of "allowed"
claims.  As of March 1, 2016, the Trustee has additional
unrestricted Cash on hand of $8.3 million, primarily the remainder
from (1) EFI's share of the proceeds of sales of real estate; and
(2) recoveries from title companies or prepetition professionals of
EFI.

The Trustee anticipates that reasonably promptly after the Plan's
Effective Date approximately $5 million will be available for pro
rata payment to holders of allowed general unsecured claims.  As to
the claims sharing in this distribution, although the amount of all
general unsecured claims asserted against EFI totaled nearly $1
billion in over 2,000 claims, the Trustee and his professionals
have filed nine omnibus objections covering over 400 Claims filed
by EFMF investors, and an additional 21 omnibus objections covering
almost 1,000 Claims of investors who had settled their claims.  The
Proponents believe the amount of general unsecured claims likely
will be reduced to approximately $150 million when all claim
objections have been resolved.

Thomas P. Jeremiassen, EFI Trustee, is represented by:

         Robert B. Orgel, Esq.
         Jeffrey L. Kandel, Esq.
         Cia H. Mackle, Esq.
         PACHULSKI STANG ZIEHL & JONES LLP
         10100 Santa Monica Blvd., 13th Floor
         Los Angeles, CA 90067-4003
         Telephone: (310) 277-6910
         Facsimile: (310) 201-0760
         E-mail: rorgel@pszjlaw.com
                 jkandel@pszjlaw.com
                 cmackle@pszjlaw.com

The Official Committee of Unsecured Creditors is represented by:

         David W. Meadows, Esq.
         LAW OFFICES OF DAVID W. MEADOWS
         1801 Century Park East, Suite 1235
         Los Angeles, CA 90067
         Telephone: 310-557-8490
         Facsimile: 310-557-8493
         E-mail:david@davidwmeadowslaw.com

                      About Estate Financial

Estate Financial, Inc., was a licensed real estate brokerage firm
since the later 1980's.  EFI solicited funding for, and arranged
and made, loans secured by various real property.  EFI also was
the
sole manager of Estate Financial Mortgage Fund LLC ("EFMF"), which
was organized for the purpose of investing in and funding loans
originated by EFI which were secured by first deeds of trust
encumbering commercial and real estate located primarily in
California and has been funding such mortgage loans since 2002.

Five creditors of EFI filed an involuntary Chapter 11 petition
against the real estate broker (Bankr. C.D. Cal. Case No.
08-11457)
on June 25, 2008.  EFI consented to the bankruptcy petition on
July
16, 2008.

In its schedules, Estate Financial disclosed total assets of $27.4
million, and total debt of $7.32 million.

A Chapter 11 trustee, Thomas P. Jeremiassen, was appointed by the
Court on July 23, 2008.

The Trustee tapped Pachulski Stang Ziehl & Jones LLP as attorneys.

The Official Committee of Unsecured Creditors tapped the Law
Offices of David M. Meadows as counsel.

                           *     *     *

The Chapter 11 Trustee filed a liquidating plan that proposes to
establish a trust to, among other things, complete the liquidation
of the Estate's assets.  The Official Committee of Unsecured
Creditors is a co-proponent to the Plan.


EVEN ST. PRODUCTIONS: Three Creditors Request Chapter 11 Trustee
----------------------------------------------------------------
Music legend Sylvester Stewart, p/k/a Sly Stone; Virginia Pope,
successor in interest to Ken Roberts; and Majoken Inc. ask the U.S.
Bankruptcy Court in Los Angeles to appoint a chapter 11 trustee to
take charge of the chapter 11 cases commenced by Even St.
Productions Ltd. and Majoken, Inc.  

The chapter 11 trustee would displace Gerald Goldstein who, the
creditors say, has acted as the self appointed president and chief
executive officer of Even St. since it was  ncorporated in 1989 and
is currently acting as the president and chief executive officer of
Even St.

Three years ago, Mr. Stewart filed papers seeking dismissal of the
Debtors' Chapter 11 petitions.  

Mr. Stewart has a $2,500,000 State Court jury verdict against Even
St. in the matter of
Sylvester Stewart v. Gerald Goldstein, et al., Los Angeles Superior
Court Case Number BC 430809.  There is a pending motion in the
State Court Action for prejudgment
interest on the jury verdict.  The motion is set for hearing on
April 19, 2016.  Mr. Stewart will amend his claim against Even St.
once the motion for prejudgment interest is heard and decided by
the State Court and a final judgment is entered in the State Court
Action.

Stewart is also a 50 percent shareholder/owner of Even St.

Dow Jones noted lawyers for Sly Stone purchased a $1.7 million
judgment against the manager. The judgment was obtained by First
California Bank last year after Mr. Goldstein defaulted on a loan
secured by Stone's future royalties.  By purchasing the judgment,
Stone's legal team could foreclose on the assets -- including the
name Sly and the Family Stone -- owned by Mr. Goldstein's
companies.

Sly Stone is represented by:

          Jeffrey Lee Costell, Esq.
          Alexandre I. Cornelius, Esq.
          COSTELL & CORNELIUS LAW CORPORATION
          1299 Ocean Avenue, Suite 450
          Santa Monica, CA 90401
          Tel: (310) 458-5959
          E-mail: jlcostell@costell-law.com
                  aicornelius@costell-law.com

               - and -

          Robert J. Allan, Esq.
          Brian R. Tinkham Esq.
          ALLAN LAW GROUP P.C.
          23823 Malibu Road, Suite 50-378
          Malibu, CA 90265
          Telephone: (310) 456-3024
          E-mail: allan@rjallanlaw.com
                  btinkham@rjallanlaw.com

Even St. Productions Ltd. and Majoken, Inc. sought Chapter 11
protection (Bankr. C.D. Cal. Case Nos. 13-24363 and 13-24389) on
May 31, 2013, in Los Angeles.  Krikor J. Meshefejian, Esq., and
David L. Neale, Esq., at Levene Neale Bender Rankin & Brill, LLP,
serve as counsel to the Debtor.  Even St. and Majoken each
estimated assets and debts of $1 million to $10 million.


EXTREME PLASTICS: Proposes May 23 General Claims Bar Date
---------------------------------------------------------
Extreme Plastics Plus Inc. and its affiliated debtors ask the U.S.
Bankruptcy Court to establish May 23, 2016, as the General Bar Date
for all persons and entities holding a claim against the Debtors
arising prior to the Petition Date to file a proof of claim.

The Debtors also ask the Court to establish August 1, 2016, as the
Governmental Bar Date by which proofs of claim by Governmental
Units must be filed.

The Debtors further seek the Court to establish as Rejection Bar
Date the later of (a) the General Bar Date and (b) 30 days after
the effective date of rejection, as the bar date by which a proof
of claim relating to the Debtors' rejection of executory contracts
and unexpired leases must be filed.

Extreme Plastics Plus Inc. and its affiliated debtors are
represented by:

     William D. Sullivan, Esq.
     William A. Hazeltine, Esq.
     SULLIVAN HAZELTINE ALLISON LLC
     901 North Market Street, Suite 1300
     Wilmington, DE 19801
     Telephone: (302) 428-8191
     Facsimile: (302) 428-8195
     E-mail: bsullivan@sha-llc.com
             whazeltine@sha-llc.com

     -- and --

     Chris L. Dickerson, Esq.
     Marc J. Carmel, Esq.
     PAUL HASTINGS LLP
     71 South Wacker Drive, 45th Floor
     Chicago, IL 60606
     Email: chrisdickerson@paulhastings.com
            marccarmel@paulhastings.com

         About Extreme Plastics

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

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

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

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

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

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

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


FIBROCELL SCIENCE: PwC Expresses Going Concern Doubt
----------------------------------------------------
PricewaterhouseCoopers LLP, in Philadelphia, Pennsylvania, audited
the consolidated balance sheet as of December 31, 2015 and the
related consolidated statements of operations, stockholders'
equity, and cash flows for the year then ended of Fibrocell
Science, Inc. and its subsidiaries.  PwC noted that the Company has
suffered recurring losses from operations and has an accumulated
deficit that raises substantial doubt about its ability to continue
as a going concern.

In its Annual Report on Form 10-K for the fiscal year ended
December 31, 2015, filed with the Securities and Exchange
Commission, the Company disclosed, "Our principal sources of
liquidity are cash and cash equivalents of $29.3 million as of
December 31, 2015. As of December 31, 2015, we had net working
capital of $15.6 million. Net working capital decreased
approximately $20.2 million, or 56.4%, from December 31, 2014 to
December 31, 2015. This decrease is the result of a net consumption
of cash described below and an increase in accounts payable for the
$10 million up-front technology access fee associated with the 2015
ECC we entered into with Intrexon. We believe that our existing
cash and cash equivalents will be sufficient to fund our operations
into the fourth quarter of 2016, however, changing circumstances
may cause us to consume capital faster than we currently
anticipate, and we may need to spend more money than currently
expected because of such circumstances. We will require additional
capital to fund operations beyond that point. To meet our capital
needs, we are considering multiple alternatives, including but not
limited to, equity financings, debt financings, corporate
collaborations, partnerships and other strategic transactions and
funding opportunities. However, there can be no assurance that we
will be able to complete any such transaction on acceptable terms
or otherwise. These factors raise substantial doubt about our
ability to continue as a going concern."

Fibrocell continued to post net losses: $34,453,000 for 2015,
$25,650,000 for 2014, and $31,554,000 for 2013.

Fibrocell posted total revenue of $492,000 for 2015 from $180,000
for 2014 and $200,000 for 2013.

At Dec. 31, 2015, Fibrocell had total assets of $36,712,000 against
total liabilities of $22,509,000.

A copy of its Annual Report is available at http://is.gd/uVzcyS

Fibrocell Science, Inc. is an autologous cell and gene therapy
company translating personalized biologics into medical
breakthroughs.  :Our approach to personalized biologics is
distinctive. We target the underlying cause of disease by using
fibroblast cells from a patient's skin to create localized
therapies—with or without genetic modification—that are
compatible with the unique biology of the patient," the Company
said.


FILMED ENTERTAINMENT: Unsec. Creditors May Recoup Up to 54%
-----------------------------------------------------------
Filmed Entertainment Inc.'s general unsecured creditors with claims
estimated to total $54.5 million are slated to have a recovery of
as low as 0% to as high as 54% under the Debtor's proposed Plan of
Liquidation.  In contrast, in a Chapter 7 scenario, unsecured
creditors are slated to recover 0% to 52%, according to the
Liquidation Analysis filed by the Debtor in March.  Secured
creditors owed $625,000 are slated to have a recovery of 77% to
100% in a Chapter 7 liquidation while their recovery is 100% under
the Plan.

A copy of the Liquidation Analysis is available at:

    http://bankrupt.com/misc/Filmed_Ent_229_Liq_Anal.pdf

                        The Chapter 11 Plan

Filmed Entertainment Inc., which has sold most of its assets, filed
with the U.S. Bankruptcy Court for the Southern District of New
York a proposed Plan of Liquidation that provides that unsecured
creditors would receive distributions from proceeds of causes of
action pursued by the litigation trust.  Holders of equity
interests won't receive anything and are deemed to reject the Plan.
The hearing on the Disclosure Statement was scheduled for April
12, 2016.  A confirmation hearing is tentatively scheduled for June
2, 2016.

A copy of the Disclosure Statement is available for free at:

     http://bankrupt.com/misc/Filmed_Ent_217_DS.pdf

                  About Filmed Entertainment Inc.

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

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

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

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

The U.S. Trustee for Region 2 appointed five creditors of Filmed
Entertainment to serve on the official committee of unsecured
creditors.  The Committee is represented by Lowenstein Sandler LLP.


FLORHAM PARK SURGERY: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Florham Park Surgery Center, LLC
        83 Hanover Road, Suite 100
        Florham Park, NJ 07932

Case No.: 16-16964

Nature of Business: Health Care

Chapter 11 Petition Date: April 11, 2016

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

Judge: Hon. John K. Sherwood

Debtor's Counsel: Daniel Stolz, Esq.
                  WASSERMAN, JURISTA & STOLZ
                  110 Allen Road, Suite 304
                  Basking Ridge, NJ 07920
                  Tel: (973) 467-2700
                  E-mail: dstolz@wjslaw.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Associated Ambulatory Services, LLC by
Kishor
Solanki, authorized representative.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb16-16964.pdf


FPMC SAN ANTONIO: U.S. Trustee Seeks Dismissal of Ch. 11 Case
-------------------------------------------------------------
Judy A. Robbins, the U.S. Trustee for Region 7, asks the U.S.
Bankruptcy Court to dismiss the Chapter 11 case of FPMC San Antonio
Realty Partners, LP, and asks that the order dismissing the case
provide for payment of any quarterly fees owed to the U.S.
Trustee.

According to the U.S. Trustee, the Debtor's sole source of income
are rents derived from its primary asset consisting of a real
property and improvements commonly known as the Forest Park Medical
Center San Antonio.  The U.S. Trustee asserts that the Debtor's
primary secured lender has foreclosed on the Property and the
Debtor does not appear to have any other significant assets
available for the payment of unsecured creditors.  Accordingly, the
U.S. Trustee contends, the Debtor no longer has any source of
income to fund a plan of reorganization, therefore, there appears
to be no reasonable likelihood of rehabilitation.

Therefore, the U.S. Trustee asserts that dismissal is in the best
interests of creditors for allowing the Debtor to stay in Chapter
11 will result substantial or continuing loss to or diminution of
the estate since the Debtor will continue to incur administrative
claims such as U.S. Trustee quarterly fees and attorney's fees.

Judy A. Robbins, the U.S. Trustee for Region 7, is represented by:

    James W. Rose, Jr., Esq.
    Trial Attorney
    OFFICE OF THE UNITED STATES TRUSTEE
    615 E. Houston St., Room 533
    San Antonio, TX 78205
    Telephone: (210) 472-4640
    Facsimile: (210) 472-4649
    Email: James.Rose@usdoj.gov

          About FPMC San Antonio

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

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

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

Judge Craig A. Gargotta is assigned to the case.

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

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

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


FRED'S INC: Egan-Jones Assigns BB- Rating on Sr. Unsecured Debt
---------------------------------------------------------------
Egan-Jones Rating Company assigned a BB- senior unsecured rating to
debt issued by Fred's Inc. on March 23, 2016.

Fred's, Inc. is a regional chain of discount retail stores,
operating in the southeastern United States. The Company also
markets goods and services through Fred's Super Dollar Stores and
Pharmacies and Fred's Xpress Pharmacies.



FREEDOM COMMUNICATIONS: DFM Entitled to Bid Protection, Panel Says
------------------------------------------------------------------
Silver Point Finance, LLC, as DIP Agent, and the Official Committee
of Unsecured Creditors appointed in the Chapter 11 cases of Freedom
Communications, Inc., join in the Debtors' opposition to Tribune
Publishing Company's Motion to deny stalking horse bid protections
to Digital First Media.

The DIP Agent and the Committee argued that Tribune has
misconstrued the facts surrounding the weeks leading up to the
Auction to insinuate to the Court that the Debtors sat on their
laurels and inexplicably designated DFM, such that, the stalking
horse designation has no impact on the bids that any qualified
bidder submitted or the ultimate purchase price received by the
Debtors at the conclusion of the Auction.  The DIP Agent and the
Committee further argued that, based on the complexity of the
ongoing negotiations with two primary parties, DFM and the Tribune,
providing Stalking Horse Protections has induced DFM to make an
offer and the Debtors has reached a non-contingent agreement with
DFM on the Stalking Horse APA at a purchase price of $45.5 million,
which is the highest bid since no other qualified bids have been
submitted at the time.

According to the DIP Agent and the Committee, the Stalking Horse
APA has set the floor for a spirited auction which led to increased
and qualified bids from the two bidders that established a minimum
opening bid for the Debtors' Assets at $50 million, and led to the
successful bid of $56 million from Tribune that is about 25% higher
than the stalking horse bid. a truly meaningful success that will
provide recoveries to all the Creditors.

The DIP Agent and the Committee asserted that the Bidding
Procedures have served their purpose well, leading to a truly
meaningful success for the estates that indisputably maximized the
Assets and providing significant funds to be distributed to all the
Creditors.  Thus, DFM should be awarded its Stalking Horse
Protections and the Sale should be approved according to the
procedures set forth with a Stalking Horse Bidder.

Tribune subsequently withdrew its Motion and reserved its rights
thereto.

Freedom Communications, Inc. and its related debtors are
represented by:

     William N. Lobel, Esq.
     Alan J. Friedman, Esq.
     Beth E. Gaschen, Esq.
     Christopher J. Green, Esq.
     LOBEL WEILAND GOLDEN FRIEDMAN LLP
     650 Town Center Drive, Suite 950
     Costa Mesa, California 92626
     Telephone: 714-966-1000
     Facsimile: 714-966-1002
     Email: wlobel@lwgfllp.com
            afriedman@lwgfllp.com
            bgaschen@lwgfllp.com
            cgreen@lwgfllp.com

Silver Point Finance, LLC, SPCP Group, LLC, and SPCP Group VI, LLC
are represented by:

     Thomas B. Walper, Esq.
     Seth Goldman, Esq.
     MUNGER, TOLLES & OLSON LLP
     355 South Grand Avenue
     Thirty-Fifth Floor
     Los Angeles, California 90071-1560
     Telephone: (213) 683-9100
     Facsimile: (213) 687-3702
     Email: thomas.walper@mto.com
            seth.goldman@mto.com

The Official Committee of Unsecured Creditors is represented by:

     Robert J. Feinstein, Esq.
     Jeffrey W. Dulberg, Esq.
     PACHULSKI STANG ZIEHL & JONES LLP
     10100 Santa Monica Blvd., 13th Floor
     Los Angeles, CA  90067
     Telephone: 310/277-6910
     Facsimile: 310/201-0760
     E-mail: rfeinstein@pszjlaw.com
             jdulberg@pszjlaw.com

Tribune Publishing Company is represented by:

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

     -- and --

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

           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 and 24 of its affiliates sought Chapter 11
bankruptcy protection in California with the intention of selling
their assets to a group of local investors led by Rich Mirman,
Freedom's chief executive officer and publisher.

Headquartered in Santa Ana, California, Freedom 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. Proposed Lead Case No. 15-15311) on
Nov. 1, 2015.  Richard E. Mirman signed the petition as chief
executive officer.  Lobel Weiland Golden Friedman LLP serves as the
Debtors' counsel.

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


FREEDOM COMMUNICATIONS: FTI Consulting Okayed as Investment Banker
------------------------------------------------------------------
The Hon. Mark S. Wallace of the U.S. Bankruptcy Court for the
Central District of California authorized Freedom Communications,
Inc., et al., to employ FTI Consulting, Inc., as investment
banker.

FTI is expected to, among other things, (1) provide investment
banking services relating to the Section 363 sale process; and (2)
provide other financial advisory services, as directed by the
Debtors or counsel.

None of the services that FTI will render in connection with the
cases will be duplicative of the services rendered by any of the
other professionals employd in the cases.

The hourly rates  of FTI's personnel are:

Senior Managing Dirctors              $800 - $975
Directors/Sr. Directors/
  Managing Directors                  $595 - $795
Consultant/Senior Consultants         $315 - $575
Administrative/Paraprofessionals/
   Associates                         $125 - $250

FTI requested that it will be paid the amout of its monthly
statement pursuant to the Court-approved bdget less a 20% holdback
of the fees incurred.

FTI does not have any otstanding prepetition receivable from the
Debtors.

The Court's order also provides that FTI is entitled to, among
other things:

   1. a $75,000 non-refundable retainer;

   2. after the sale of all of the Debtors' assets, a single
Transaction Fee equal to $475,000, plus reimbursement of actual and
necessary expenses, plus 3% of any aggregate value over and above
$42 million of any transaction or transactions completed during the
pendency of the cases.

Christopher T. Nicholls, a senior managing director, assured the
Court that FTI does not hold or represent any interest dverse to
the estate.

                   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.

Freedom Communications Inc., in an amended schedules disclosed
total assets of $59,368,451 and total liabilities of $213,887,330.

The Debtor previously reported assets of $59,368,451 and
liabilities of $218,890,683.

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


FREEDOM COMMUNICATIONS: LMG Seeks Return of $647K
-------------------------------------------------
LMG National Publishing, Inc., filed a motion asking the U.S.
Bankruptcy Court to compel Freedom Communications, Inc., et al., to
turn over the sum of $647,868.

Pursuant to an Asset Purchase Agreement, LMG acquired substantially
all of the assets, properties and business of Victor Valley
Publishing Company, Victorville Publishing Company, and Daily
Press, LLC.  LMG and Freedom Communications, Inc., entered into the
Transition Services Agreement wherein the Debtors agreed to render
services on behalf of LMG during the transition in ownership and
operation of the acquired enterprises.

According to LMG, the Debtors continued collecting accounts
receivables and other revenues totaling to $1,471,546 on behalf of
LMG following acquisition, in which the Debtors returned $215,423
of the revenue to LMG.  Despite charging LMG approximately $620,000
as full and complete payment for providing the collection services
and advancing funds for expenses related to the enterprise, the
Debtors failed to return a net balance of $647,868 from the funds
collected.

LMG asserts that the Debtors collected the LMG Revenues on behalf
of LMG thereby the Debtors have no legal or equitable right to
these funds.  The Debtors' continued retention and refusal to turn
over the Net LMG Revenues to LMG contravenes the Agreements, LMG
further asserts.  As such, LMG contends, the Net LMG Revenues do
not constitute property of the Estates since the Debtors are
holding the Net LMG Revenues in a constructive trust for the
benefit of LMG after the Debtors took the LMG Revenues through
fraud or other tortious means.

             Debtors, DIP Agent Oppose

The Debtors, joined by the DIP Agent, Silver Point Finance, LLC,
complain that the relief sought by LMG is both procedurally and
substantively improper considering that LMG seeks to recover money
or property.  To determine an interest in property and to obtain
equitable relief, LMG must have raise its relief by adversary
proceeding, the Debtors asserted.

According to the Debtors, the monies that are at issue were
deposited into and swept from the accounts held by the Debtor,
Daily Press, LLC, into the general accounts held by FCI and then
were further pulled into the Debtors' disbursement accounts. So
that the commingling of funds in conjunction with the fact that the
lowest intermediate balance in these accounts is zero dollars
precludes LMG from obtaining a trust on any of the funds currently
held by the Debtors, the Debtors pointed out.  In addition, the
lack of segregation establishes that the parties did not intend for
the funds to be held in trust, the Debtors noted.

Further, the Debtors contended that a constructive trust is an
equitable remedy that if not imposed prepetition is only an
inchoate interest, and courts are hesitant to impose such a remedy
post-petition because of the havoc that it will cause to the
priority scheme set forth in the Bankruptcy Code. The Debtors also
contend that since LMG did not obtain a judgment for a trust
pre-petition, LMG cannot use this remedy now to elevate itself
ahead of all creditors including senior secured creditors.

Freedom Communications, Inc. and its related debtors are
represented by:

     William N. Lobel, Esq.
     Alan J. Friedman, Esq.
     Beth E. Gaschen, Esq.
     Christopher J. Green, Esq.
     LOBEL WEILAND GOLDEN FRIEDMAN LLP
     650 Town Center Drive, Suite 950
     Costa Mesa, California 92626
     Telephone: 714-966-1000
     Facsimile: 714-966-1002
     Email: wlobel@lwgfllp.com
            afriedman@lwgfllp.com
            bgaschen@lwgfllp.com
            cgreen@lwgfllp.com

LMG National Publishing, Inc.

     Ashley M. McDow, Esq.
     Michael T. Delaney, Esq.
     BAKER & HOSTETLER LLP
     11601 Wilshire Boulevard, Suite 1400
     Los Angeles, CA 90025-0509
     Telephone: 310.820.8800
     Facsimile: 310.820.8859
     Email: amcdow@bakerlaw.com
            mdelaney@bakerlaw.com

Silver Point Finance, LLC, SPCP Group, LLC, and SPCP Group VI, LLC
are represented by:

     Thomas B. Walper, Esq.
     Seth Goldman, Esq.
     MUNGER, TOLLES & OLSON LLP
     355 South Grand Avenue
     Thirty-Fifth Floor
     Los Angeles, California 90071-1560
     Telephone: (213) 683-9100
     Facsimile: (213) 687-3702
     Email: thomas.walper@mto.com
            seth.goldman@mto.com

           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 and 24 of its affiliates sought Chapter 11
bankruptcy protection in California with the intention of selling
their assets to a group of local investors led by Rich Mirman,
Freedom's chief executive officer and publisher.

Headquartered in Santa Ana, California, Freedom 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. Proposed Lead Case No. 15-15311) on
Nov. 1, 2015.  Richard E. Mirman signed the petition as chief
executive officer.  Lobel Weiland Golden Friedman LLP serves as the
Debtors' counsel.

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


FUHU INC: Needs Until Aug. 3 to File Ch. 11 Plan
------------------------------------------------
Arctic Sentinel, Inc., f/k/a Fuhu, Inc., and its debtor affiliates
ask the U.S. Bankruptcy Court for the District of Delaware to
extend their exclusive period for filing a plan by approximately
120 days through and including Aug. 3, 2016, and their exclusive
period for obtaining acceptances for such plan through and
including Oct. 3, 2016.

According to Jeffrey N. Pomerantz, Esq., at Pachulski Stang Ziehl &
Jones LLP, in Wilmington, Delaware, unresolved contingencies exist
and negotiations with creditors remain incomplete insofar as the
Bar Date has not yet passed.  The Debtors are requesting that the
Bar Date be set for June 28, 2016.  Mr. Pomerantz tells the Court
that once the Bar Date has passed, the Debtors, in consultation
with the Official Committee of Unsecured Creditors , will need to
begin the process of reconciling the proofs of claim received with
their Schedules of Assets and Liabilities.  This effort, Mr.
Pomerantz says, will lead to various omnibus claim objections and
allow the Debtors and the Committee to better understand the total
number and amount of claims outstanding.

The Debtors will use the extension to investigate and monetize any
remaining assets of their estates.  It is important for all parties
to understand the proceeds available for distribution before
evaluating how to conclude these cases, Mr. Pomerantz asserts.
Furthermore, the extension will enable the Debtor to engage the
Committee in discussions on the appropriate exit strategy, Mr.
Pomerantz adds.

The Debtors are also represented by Ira Kharasch, Esq., Michael R.
Seidl, Esq., and Colin R. Robinson, Esq., at Pachulski Stang Ziehl
& Jones LLP, in Wilmington, Delaware; Robert J. Miller, Esq., at
Bryan Cave LLP, in Phoenix, Arizona; Kerry A. Moynihan, Esq., at
Bryan Cave LLP, in Irvine, California; and Brian C. Walsh, Esq.,
and Laura Uberti Hughes, Esq., at at Bryan Cave LLP, in St. Louis,
Missouri.

                         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.


GAMING & LEISURE: S&P Rates New $825MM Incremental Loan 'BB+'
-------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB+' issue-level
and '2' recovery rating to Wyomissing, Pa.-based gaming real estate
investment trust (REIT) Gaming & Leisure Properties Inc.'s (GLPI)
proposed $825 million incremental term loan due 2021, and an
aggregate $1.375 billion in new senior unsecured notes due 2022 and
2026.  The '2' recovery rating reflects S&P's expectation for
substantial recovery (70% to 90%; upper half of the range) for
lenders in the event of a payment default.  The term loan will be
issued by GLP Capital L.P. and the notes will be co-issued by GLP
Capital L.P. and GLP Financing II Inc.  GLPI will use the proceeds
from the incremental debt issuances to partly fund its purchase of
Pinnacle Entertainment's real estate assets.

At the same time, S&P affirmed its 'BB+' issue-level and '2'
recovery ratings on the company's existing senior unsecured debt.
Although the recovery rating remains '2', reflecting S&P's
expectation for substantial recovery (70% to 90%) for lenders in
the event of a payment default, recovery prospects for unsecured
lenders have improved to the upper half of the range from the lower
half because GLPI plans to issue a lower amount of additional
unsecured debt to fund the Pinnacle acquisition than S&P previously
contemplated.

S&P's 'BB' corporate credit rating and stable outlook on GLPI are
unchanged.  Although the company raised $826 million in new common
equity proceeds, compared to S&P's prior assumption of around $500
million, resulting in a lower amount of new debt issuance, S&P
continue to expect adjusted debt to EBITDA to be in the mid- to
high-5x area in 2016 (assuming the acquisition closes mid-2016 and
inclusive of only half a year of Pinnacle's lease payments),
improving to below the mid-5x area by the end of 2017. Furthermore,
S&P continues to believe GLPI would likely consider increasing
leverage above its 5.5x financial policy goal in the future for
additional acquisitions, particularly in times of significant
volatility in the equity markets.

Although S&P expects adjusted leverage to remain high, in the mid-
to high-5x area in 2016, S&P's aggressive financial risk assessment
is supported by its forecast for adjusted funds from operations
(FFO) to debt to remain at least in the low-teens percent area and
for EBITDA coverage of interest to remain above 4x through 2017.
GLPI's financial risk profile also benefits from  modest capital
expenditure requirements, since its leases are triple-net leases
and the lessee is responsible for maintaining the property, and
because GLPI owns and operates only two properties, which require
modest capital expenditure.

The stable rating outlook reflects S&P's expectation that, despite
high leverage, GLPI's relatively stable and predictable cash flow
base will support modest EBITDA growth and allow the company to
modestly reduce leverage over the next two years, absent additional
acquisitions.  S&P could consider lowering the ratings if the
adjusted funds from operations to debt ratio was sustained below
12%, adjusted EBITDA coverage of interest stayed below 3x, or if
the credit quality of either of GLPI's largest tenants were to
deteriorate to the extent rent coverage fell below 1.5x.  S&P would
consider higher ratings if adjusted leverage improved to and was
sustained below 5.5x over the long run and S&P believed the credit
quality of GLPI's largest tenants was not in jeopardy such that
rent coverage would be maintained above 1.5x.

RECOVERY ANALYSIS

Key analytical factors:

   -- S&P's recovery analysis incorporates the expected $825
      million in incremental term loan issuance, the aggregate
      $1.375 billion in new senior unsecured notes due 2022 and
      2026, and future incremental debt to fund a portion of the
      Meadows acquisition cost.  S&P's simulated default scenario
      contemplates a payment default in 2020 as the company is
      unable to refinance debt maturing that year because of a
      major disruption in the debt and equity markets, combined
      with a significant deterioration in its largest tenants'
      operating results.

   -- S&P assumes that, pro forma for the completion of the
      acquisition, Pinnacle Entertainment and Penn National Gaming

      Inc. experience significant deterioration in cash flows,
      reflecting prolonged economic weakness, greater competitive
      pressures, and reduced interest in gaming as a form of
      entertainment.  S&P also assumes that Pinnacle and Penn
      National continue to make rent payment to GLPI, but given
      their financial positions, Standard & Poor's assumes that
      Pinnacle and Penn National are able to renegotiate and
      meaningfully reduce their rent payments, even though this is

      not provided for in the current lease agreement.  S&P used
      an income capitalization approach in its recovery analysis
      and assumes that GLPI is reorganized or sold as a going
      concern.  S&P uses a 13% distressed capitalization rate.

   -- S&P assumes GLPI's revolving credit facility would be 60%
      drawn at the time of default.  S&P values GLPI based on
      EBITDA of about $620 million at emergence.  This reflects an

      approximately 30% stress to Standard & Poor's estimated 2016

      EBITDA, pro forma to include income from Pinnacle and
      Meadows.  S&P also assumes that additional property costs of

      5% reduce GLPI's gross recovery value.  These property costs

      reflect added costs to GLPI that may be incurred as a result

      of its tenants being in financial distress.

   -- S&P assumes administrative claims total 3% of gross recovery

      value after property costs, given one class of debt in
      GLPI's capital structure.

Simulated default assumptions:

   -- Year of default: 2020
   -- EBITDA at emergence: $620 million
   -- Capitalization rate: 13%

Simplified waterfall:

   -- Net enterprise value (after 5% additional property costs and

      3% admin. costs):$4.4 billion
   -- Senior unsecured debt: $5.4 billion
   -- Recovery expectation: 70% to 90% (upper half of range)

Note: All debt amounts include six months of prepetition interest.


RATINGS LIST

Gaming & Leisure Properties Inc.
Corporate Credit Rating                     BB/Stable/--

New Rating

GLP Capital L.P.
$825 mil. incremental term loan due 2021
Senior Unsecured                            BB+
  Recovery Rating                            2H

GLP Capital L.P.
GLP Financing II Inc.
$1.375 bil. aggregate  notes due 2022 and 2026
Senior Unsecured                            BB+
  Recovery Rating                            2H

Rating Affirmed; Recovery Band Revised
                                             To          From
GLP Capital L.P.
GLP Financing II Inc.
Senior Unsecured                            BB+          BB+
  Recovery Rating                            2H          2L



GASTAR EXPLORATION: Egan-Jones Cuts Sr. Unsecured Rating to C
-------------------------------------------------------------
Egan-Jones Ratings Company downgraded the senior unsecured rating
on debt issued by Gastar Exploration Inc. to C from CCC on March
17, 2016.  EJR also lowered its rating on commercial paper issued
by the Company to D from C.

Gastar Exploration Incorporated is a Houston-based independent
energy company engaged in the exploration, development and
production of oil, natural gas, condensate, and natural gas liquids
in the United States. The Company's principal business activities
include the identification, acquisition, and subsequent exploration
and development of oil and natural gas properties.



GEO GROUP: S&P Assigns 'BB-' Rating on New $300MM Sr. Unsec. Notes
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB-' issue-level
rating and '4' recovery rating to U.S.-based The GEO Group Inc.'s
proposed $300 million senior unsecured notes due 2026.  The '4'
recovery rating indicates S&P's expectation of 30%-50% recovery (in
the lower half of the range) in the event of a default.  The notes
will be guaranteed by all restricted subsidiaries that guarantee
the senior credit facility, and be drawn off the company's shelf
registration statement filed Sept. 12, 2014.  S&P expects the
company will use net proceeds from the offering to refinance the
$300 million 6.625% notes that mature in February 2021.

All of S&P's existing ratings on GEO, including S&P's 'BB-'
corporate credit rating, are unchanged.  The outlook is stable.

S&P's ratings on GEO reflect S&P's view that the company benefits
from high barriers to entry in the private corrections industry,
including significant capital spending to build and maintain
detention facilities, specialized knowledge and competence to win
contracts and manage the facilities, and a good market position in
a highly regulated industry.  S&P believes GEO will maintain its
current market share because of its higher operating efficiency
compared with public facilities.  Nevertheless, S&P believes the
private corrections market will continue to represent only about
10% of the total corrections market, as there is little political
or public support to grow the share of private prisons.  Over the
medium to long term, potential correctional policy changes could
reduce the U.S. government's demand for private correctional
services, especially if the policy changes are aimed at reducing
budget deficits at the various levels of government.  In addition,
the company will remain dependent on a concentrated base of
customers from various levels of the U.S. and state governments.
The company's top three customers are departments of the federal
government (Bureau of Prisons, Immigration and Customs Enforcement,
and U.S. Marshal Services) that account for approximately 45% of
GEO's total revenue.  S&P believes the company will continue to
deliver moderate revenue and profit growth, and consistent free
cash flow to modestly improve its credit ratios from current
levels, and forecast debt to EBITDA in the high 4x area and funds
from operations to debt in the mid-teens range in 2016 and 2017.

RATINGS LIST

The GEO Group Inc.
Corporate credit rating                   BB-/Stable/--

Ratings Assigned
The GEO Group Inc.
Senior unsecured
  $300 mil. notes due 2026                 BB-
   Recovery rating                         4L



GREAT LAKES COMNET: Gets Approval to Pay Sales and Use Taxes
------------------------------------------------------------
Great Lakes Comnet Inc. received court approval to pay the sales
and use taxes it collected from customers prior to its bankruptcy
filing.

The order, issued by Judge John Gregg of the U.S. Bankruptcy Court
for the Western District of Michigan, allowed the company to pay up
to $65,000 to taxing authorities.

The company estimates that the collected but unpaid pre-bankruptcy
sales and use taxes aggregate approximately $58,950, according to
court filings.

                    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.


GREAT LAKES QUICK: 5th Cir. Remands Suit vs. TD Investments
-----------------------------------------------------------
The committee appointed to represent the unsecured creditors in
Great Lakes Quick, LP's Chapter 11 case filed an adversary action
against T.D. Investments I, LLP, which had leased two oil-change
stores to the Debtor.  Great Lakes had negotiated the termination
of the leases 52 days before it declared bankruptcy, and the
creditors' committee contends that the termination was either a
preferential or a fraudulent transfer of the leases to T.D. and
that whichever it was the value of the leases belongs to the
bankrupt estate and should therefore be available to the bankrupt's
creditors.  T.D. denies that the terminations were transfers, let
alone preferential or fraudulent, and the bankruptcy judge agreed
but, at the request of the creditors' committee, asked the United
States Court of Appeals for the Fifth Circuit to accept a direct
appeal from her ruling.

The transfer alleged is the surrender by Great Lakes of the two
leases that it had been granted by T.D. The parties disagree about
whether Great Lakes received equivalent value for the leases that
it surrendered and whether T.D. received more value as a result of
the surrender than it would have received had the leases been part
of the bankrupt estate. The bankruptcy judge did not resolve these
issues because she ruled that the terminations had not been
transfers.

T.D. argues that Great Lakes decided to terminate the leases in
order "to rid itself of locations that were burdensome to its
operations with the hopes that such action would allow it to avoid
bankruptcy and continue operating." Though discarding profitable
locations could not stave off bankruptcy, T.D. argues that even
though the two stores were profitable, ongoing maintenance,
repairs, and other obligations would have cut so far into those
profits that Great Lakes would actually have lost money had it
retained the leases.

T.D. argues that the leases were abandoned rather than transferred,
and if they were not transferred the creditors have no valid
avoidance claims.

In a Decision dated March 11, 2016, which is available at
http://is.gd/TDYIQBfrom Leagle.com, the Fifth Circuit accepted the
appeal, reversed the judgment of the bankruptcy court, and remanded
the case to that court to determine the value of Great Lakes'
transfer to T.D. and whether T.D. has any defenses to the
creditors' claims.

The appeals case is OFFICIAL COMMITTEE OF UNSECURED CREDITORS OF
GREAT LAKES QUICK LUBE LP, Plaintiff-Appellant, v. T.D. INVESTMENTS
I, LLP, Defendant-Appellee, No. 15-2093 (5th Cir.), relating to IN
RE: GREAT LAKES QUICK LUBE LP, Debtor.

                About Great Lakes Quick Lube

Great Lakes Quick Lube LP, the operator of 64 Valvoline oil-change
stores, filed a Chapter 11 petition (Bankr. E.D. Wisc. Case No.
12-24163) on April 2, 2012, in Milwaukee after closing 43 sites.
The Debtor estimated assets of $1 million to $10 million and debts
of $10 million to $50 million as of the Chapter 11 filing.  

On January 30, 2013, the Court confirmed the Debtor's Third
Amended
Plan of Reorganization.


GROWING POWER: EY Seeking Bids for Asset Sales
-----------------------------------------------
Ernst & Young Inc., in its capacity as receiver of Growing Power
Management Ltd. and Growing Power Hairy Hill Limited Partnership,
is currently seeking parties interested in receiving information in
relation to the receiver's request for proposals in relation to the
purchase of the assets of Growing Power.  Assets include 2 parcels
of land, office building, ethanol plant, bio digesters, generators
and various other equipment used in operations.

To receiver a copy of the information package please contact:

   Dan Woo
   Vice President
   Tel: (780) 441-4696
   Email: dan.woo@ca.ey.com

   Trina Sorbara
   Paraprofessional
   Tel: (780) 412-2393
   Email: trina.sorbara@ca.ey.com

The receiver can be reached at:

   Ernst & Young
   Suite 1400, 10423 - 101 Street
   Edmonton, Alberta T5H 0E7
   Fax: (780) 428-8977


GUIN CITY, AL: Moody's Lowers GOLT Rating to Ba1, Outlook Negative
------------------------------------------------------------------
Moody's Investors Service has downgraded the City of Guin, AL's
General Obligation Limited Tax rating to Ba1 from Baa3, affecting
$5.6 million of outstanding debt.  Concurrently, Moody's has
assigned a negative outlook.

The Ba1 reflects the city's strained financial position, small tax
base with moderate room for growth, and significant taxpayer
concentration.  The rating also incorporates the city's high debt
burden, including a privately placed bond with acceleration
provisions.

Rating Outlook

The negative outlook reflects the expectation that the city's
finances will continue to be strained and reserve levels may
continue to deteriorate.

Factors that Could Lead to an Upgrade (Removal of Negative
Outlook)

  Significant tax base growth and diversification coupled with
   improved socioeconomic factors

  Stabilized reserves to adequate levels

  Decline in debt levels

Factors that Could Lead to a Downgrade

  Decrease in cash and fund balance

  Inability to meet budgeted revenues

  Decline in the tax base

                         Legal Security

The bonds are secured by a general obligation limited tax pledge.
The city's full faith and credit is irrevocably pledged to pay debt
service on the bonds however, they do not include an explicit
promise to raise property taxes or other revenues.  Moreover, the
Alabama Constitution has strict limitations on local property tax
rates and closely regulates other local revenues sources.

Use of Proceeds
Not applicable.

Obligor Profile
Guin, AL is located in Marion County, approximately 80 miles
northwest of Birmingham, and has a population of about 2,124.

Methodology

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014.


HARSCO CORP: Egan-Jones Cuts Sr. Unsecured Rating to B+
-------------------------------------------------------
Egan-Jones Rating Company downgraded the senior unsecured rating on
debt issued by Harsco Corp. to B+ from BB- on March 22, 2016.

Harsco Corporation is a diversified, worldwide industrial company
based in the United States.



HAVERHILL CHEMICALS: Liquidating Plan Confirmed by Judge
--------------------------------------------------------
Haverhill Chemicals LLC, which sold most of the assets to ALTIVIA
Petrochemicals, LLC, for $2 million, won approval of its Chapter 11
liquidating plan.  At the end of March, Judge Marvin Isgur granted
final approval of the Disclosure Statement and confirmed the Plan.

According to the Plan Confirmation Order, the effective of the Plan
will occur (if ever) by no later than May 30 ,2016 (assuming the
conditions precedent in the Plan are satisfied).  In the event the
Effective Date has not occurred by May 30, 2016, then (a) the Plan
will never be become binding upon any party, (b) the Debtor's use
of cash collateral will terminate, and (c) the automatic stay of
Sec. 362(a) of the Bankruptcy Code will be terminated to permit the
agent and the lenders to exercise all rights and remedies with
respect to all collateral.

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

    http://bankrupt.com/misc/Haverhill_275_Plan_Conf_Ord.pdf

After selling its Haverhill, Ohio chemical plant in November 2015,
Haverhill Chemicals in February 2016 filed a Joint Combined
Disclosure Statement and Plan of Liquidation.  The Official
Committee of Unsecured Creditors is a co-proponent of the Plan.

On the Petition Date, the Debtor filed a motion to sell
substantially all assets, including its chemical plant, to ALTIVIA
Petrochemicals, LLC.  The Court approved the sale on Nov. 2, 2015.

The sale closed on Nov. 6.  The sale generated net cash proceeds
Of $2 million, all of which constituted cash collateral of the
lenders.

After application of the net cash generated by the sale of
substantially all of the Debtor's assets to ALTIVIA, the lenders
under the prepetition credit facility, led by Bank of America, N.A,
as agent, are still owed in excess of $39 million.

The Plan classifies claims and interests into five classes: secured
claims of $39.7 million of lenders under the prepetition credit
facility (Class 1), other secured claims estimated at $0 (Class 2),
other priority claims estimated at $0 (Class 3), general unsecured
claims of $39.8 million (Class 4) and membership interests (Class
5).  Only Classes 2 and 3 are unimpaired.  The lenders will receive
a 60% beneficial interest in the "distribution trust" to be
established under the Plan while unsecured creditors will get 40%.
Holders of membership interests won't receive any distributions.

Counsel to Haverhill Chemicals:

          Kyung S. Lee, Esq.
          Charles M. Rubio, Esq.
          William Hotze, Esq.
          DIAMOND MCCARTHY LLP
          909 Fannin, Suite 1500
          Houston, TX 77010
          Telephone: (713)333-5100
          Facsimile: (713)333-5195
          E-mail: klee@diamondmccarthy.com
                  crubio@diamondmccarthy.com
                  whotze@diamondmccarthy.com

Counsel to the Official Committee of Unsecured Creditors:

          HALPERIN BATTAGLIA BENZIJA, LLP
          Alan D. Halperin, Esq.
          Julie Dyas Goldberg, Esq.
          40 Wall Street, 37th Floor
          New York, New York 10005
          Tel: (212) 765-9100
          Fax: (212) 765-0964
          E-mail: ahalperin@halperinlaw.net
                  jgoldberg@halperinlaw.net

Counsel for the Agent:

          BRYAN CAVE LLP
          211 North Broadway, Suite 3600
          St. Louis, MO 63102
          Attn: David Unseth, Esq.
          E-mail: dmunseth@bryancave.com

                    About Haverhill Chemicals

Haverhill Chemicals LLC owned and operated a chemical plant in
Haverhill, Ohio, to produce Phenol, Acetone, Bisphenol A (BPA) and
Alpha-Methylstyrene ("AMS") for sale to customers.  The chemicals
are used to manufacture a wide variety of chemical intermediates,
including phenolic resins, paint, varnishes, pharmaceuticals,
film, epoxy resins, flame retardants, coatings and heat resistance
of polystyrene.

Haverhill Chemicals filed a Chapter 11 bankruptcy petition (Bankr.
S.D. Tex. Case No. 15-34918) on Sept. 18, 2015, with a deal to
sell its Haverhill plant to ALTIVIA Petrochemicals, LLC, for $3
million, subject to higher or better bids.

The Debtor estimated assets of $1 million to $10 million and
liabilities of $100 million to $500 million.

The petition was signed by Paul Deputy, the chief financial
officer.   The case is assigned to Judge Marvin Isgur.

Diamond McCarthy LLP serves as the Debtor's counsel.

On Sept. 29, 2015, the U.S. trustee overseeing the Debtor's Chapter
11 case appointed Marathon Petroleum Company LP, Pritchard Electric
Co., and CB&I Stone & Webster Construction Inc. to serve on the
official committee of unsecured creditors.  The Committee is
represented by Gardere Wynne Sewell LLP.

                           *     *     *

The Court established Jan. 18, 2016 as the deadline for
non-governmental entities to file proofs of claim, and March 16,
2016 as the deadline for governmental entities.


HILLMAN GROUP: S&P Affirms 'B' CCR & Revises Outlook to Negative
----------------------------------------------------------------
Standard & Poor's Ratings Services affirmed its 'B' corporate
credit rating on The Hillman Group Inc. and revised the outlook to
negative from stable.

At the same time, S&P affirmed the 'B' ratings on Hillman's
$550 million senior secured term loan due June 2021, and the $70
million revolving facility due June 2019.  The recovery ratings
remain '3', indicating our belief that lenders could expect
meaningful (50% to 70%, upper half of the range) recovery in the
event of payment default or bankruptcy.

S&P also affirmed the issue-level rating on the $330 million senior
unsecured notes due July 2022 at 'CCC+'.  The recovery rating
remains '6', indicating S&P's belief that lenders could expect
negligible (0% to 10%) recovery.

S&P estimates that at the end of 2015 the company had about
$1.0 billion of adjusted debt obligations (S&P's adjustments
include capitalized operating leases and the company's trust
preferred securities).

The revision of the outlook to negative from stable reflects
Hillman's high leverage and the possibility it will not be able to
reduce leverage to near 7x through improvements in profitability by
the end of 2016, as leverage at the end of 2015 was roughly 10x.
Standard & Poor's had previously expected leverage of roughly 8x by
the end of fiscal 2015.  The company was also free operating cash
flow negative because of high working capital needs related to
product launches and continued capital expenditure investments in a
new enterprise resource planning system, resulting in a revolver
balance of roughly $28 million at year-end.  The company incurred
several one-time charges related to its Nail, Deck, and Drywall
product launch in 2015 that S&P expects the company to lap in 2016.
However, in order to meet S&P's base-case forecast, the company
must resolve issues with its supply chain that resulted in
increased air freight costs to meet customer demand in 2015.  These
costs combined with costs for new product initiatives, increased
warehousing costs from inventory mismanagement, losses from foreign
exchange, and restructuring and acquisition costs all led to over a
400 basis point decline in profitability in 2015.

Standard & Poor's will monitor closely the company's financial
performance over the next two quarters to determine if the
operating missteps it faced in 2015 are being addressed or are
continuing.  S&P expects the company to continue to make
improvements to its equipment in 2016, which will make inventory
and working capital management a key component of positive free
operating cash flow for 2016.  The company will need to reduce
inventory days to below 60, from above 100 days in 2015 to achieve
our base case.

"We could lower the ratings on Hillman by the end of calendar 2016
if operating performance does not improve and if we expect leverage
to remain well over 8x, or if we expect free operating cash flow to
continue to be negative," said Standard & Poor's credit analyst
Amanda Cusumano.  "Alternatively, we could revise the outlook back
to stable by the end of calendar 2016 if the company demonstrates
that it has improved its supply chain cost structure and maintains
EBITDA margins in the mid-teen range, or if free operating cash
flow is expected to be positive from improvements in working
capital management, resulting in lower leverage sustained between
7x and 8x."



INTEGRATED STRUCTURES: Court Junks Pension Fund's ERISA Fraud Claim
-------------------------------------------------------------------
Trustees of the New York City District Council of Carpenters
Pension Fund, Welfare Fund, Annuity Fund, Apprenticeship,
Journeyman Retraining, Educational and Industry Fund, Charity Fund
and The New York City and Vicinity Carpenters Labor-Management
Corporation filed an action seeking to collect delinquent employer
contributions to a group of employee benefit plans from Francis A.
Lee  and Matt-Con Services Corp.

In response to the defendants' motions to dismiss the initial
complaint, the plaintiffs filed the operative First Amended
Complaint on December 11, 2015.

Although this suit is the plaintiffs' first attempt to hold Lee and
Matt-Con liable for the delinquent contributions at issue, this
case is just the latest in a number of actions that the plaintiffs
have filed to recover these funds. The Plaintiffs previously
brought a total of three actions against Integrated Structures
Corp. and Francis A. Lee Company, two construction companies
against whom plaintiffs have obtained unsatisfied judgments and/or
confirmed arbitration awards for the delinquent contributions at
issue.  FALC, for its part, failed to appear in the action brought
against it and judgment was entered in the amount of $159,687.88.
The Plaintiffs commenced two separate actions against Integrated.
In the first action, Integrated filed for bankruptcy protection
under Chapter 11 of the Bankruptcy Code days before a non-jury
trial in this Court was scheduled to begin. That action remains
stayed. Integrated failed to appear in the second action (which
predated Integrated's filing for bankruptcy), and judgment was
entered in the amount of $68,707.24. In this action, plaintiffs
primarily seek to recover the delinquent contributions from Lee,
the owner and operator of Integrated and FALC, and Matt-Con, which
is alleged to be the alter ego of Integrated and FALC and of which
Lee is the operational director.

Pending before the Court are defendants Francis A. Lee and Matt-Con
Services Corp.'s motions to dismiss the First Amended Complaint
pursuant to Federal Rules of Civil Procedure 12(b)(1) and 12(b)(6).
Lee argues that the Court lacks subject matter jurisdiction over
the claims against him because they are the exclusive property of
Integrated's bankruptcy estate, and Matt-Con argues that the Court
lacks ancillary jurisdiction over the claims against it and that
the Court should decline to exercise supplemental jurisdiction.
Defendants further argue, in the alternative, that the FAC must be
dismissed because, inter alia, the claims against Lee are
time-barred, the ERISA fraud claim does not satisfy the
particularity requirements of Rule 9(b), and the allegations
against Matt-Con fail to state the elements necessary to allege
plausible claims.

In an Opinion and Order dated March 14, 2016, which is available at
http://is.gd/fqF2Whfrom Leagle.com, Judge Katherine B. Forrest of
the United States District Court for the Southern District of New
York denied the defendants' motions to dismiss as to all claims
except for the plaintiffs' Third Claim for ERISA fraud.  The Court
dismissed that claim without prejudice for failure to meet the
heightened pleading standards of Rule 9(b).

The Plaintiffs are granted leave to amend the ERISA fraud claim
within 90 days of the date of the Opinion & Order.  In the interim,
discovery will proceed immediately, and the plaintiffs will have
the benefit of that discovery in any attempt to replead the
dismissed claim.

The case is TRUSTEES OF THE NEW YORK CITY DISTRICT COUNCIL OF
CARPENTERS PENSION FUND, WELFARE FUND, ANNUITY FUND,
APPRENTICESHIP, JOURNEYMAN RETRAINING, EDUCATIONAL AND INDUSTRY:
FUND, CHARITY FUND, THE NEW YORK CITY AND VICINITY CARPENTERS
LABOR-MANAGEMENT CORPORATION, and THE NEW YORK CITY DISTRICT
COUNCIL OF CARPENTERS, Plaintiffs, v. FRANCIS A. LEE, and MATT-CON
SERVICES CORP., Defendant, No. 15-cv-8081 (KBF) (S.D.N.Y.).

Trustees of the New York City District Council Of Carpenters
Pension Fund, Welfare Fund, Annuity Fund, Apprenticeship,
Journeyman Retraining, Educational and Industry Fund, Charity Fund,
Plaintiff, is represented by Todd Dickerson, Esq. --
tdickerson@vandallp.com -- Virginia & Ambinder, LLP & Adam Arthur
Biggs, Esq. -- abiggs@vandallp.com -- Virginia & Ambinder, LLP.

The New York City and Vicinity Carpenters Labor-Management
Corporation, Plaintiff, is represented by Todd Dickerson, Virginia
& Ambinder, LLP & Adam Arthur Biggs, Virginia & Ambinder, LLP.

The New York City District Council of Carpenters, Plaintiff, is
represented by Todd Dickerson, Virginia & Ambinder, LLP & Adam
Arthur Biggs, Virginia & Ambinder, LLP.

Francis A. Lee, Defendant, is represented by Alan B. Pearl, Esq. --
abp@pearl-law.com -- Alan B. Pearl & Associates, P.C & Brian
Jeffrey Shenker, Esq. -- bshenker@pearl-law.com -- Alan B. Pearl &
Associates, P.C.

Matt-Con Services Corp., Defendant, is represented by Frank Michael
Graziadei, Esq. -- Frank M. Graziadei, P.C.


J&N RESTAURANT: Dismissal of Mendolia Trustee's Suit Affirmed
-------------------------------------------------------------
Judge Brenda K. Sannes of the United States District Court for the
Northern District of New York affirmed the bankruptcy court's
decision granting summary judgment in favor of the franchise
defendants J&N Restaurant Associates, Inc., Endvest, Inc., and
Upfront, Inc., and dismissing the case captioned JAMES C. COLLINS,
in his official capacity as Trustee of the Bankruptcy Estate of
JOHN J. MENDOLIA and NICOLINA M. MENDOLIA, Appellant, v. J&N
RESTAURANT ASSOCIATES, INC., ENDVEST, INC., UPFRONT, INC. and
WILLOW RUN FOODS, INC., Appellees, No. 3:15-cv-178 (BKS)
(N.D.N.Y.).

Eleven months after the confirmation of the franchise defendants'
plan of reorganization, James Collins, the trustee for the
bankruptcy estate of John and Nicolina Mendolia, filed an adversary
complaint seeking to avoid and recover, for the benefit of the
Mendolias' creditors, $51,900 in transfers that the Mendolias made
between January 9 and 11, 2012 to the franchise defendants.  The
trustee claimed that he is entitled to recover the "fraudulent"
transfer on the basis that it was made in exchange for less than
the "reasonably equivalent value" of the property transferred.

United States Bankruptcy Judge Diane Davis granted summary judgment
in favor of the franchise defendants and dismissed the trustee's
adversary complaint.

On appeal, Judge Sannes concluded that the bankruptcy court
correctly held that the confirmation of the franchise defendants'
chapter 11 plan of reorganization on March 11, 2012 discharged the
trustee's post-petition, pre-confirmation administrative expense
claim under 11 U.S.C. Section 1141(d).

A full-text copy of Judge Sanne's March 28, 2016
memorandum-decision and order is available at http://is.gd/WLYLCe
from Leagle.com.

James C. Collins is represented by:

          Edward Y. Crossmore, Esq.
          CROSSMORE LAW FIRM
          115 W Green St
          Ithaca, NY 14850-5419
          Tel: (607)273-5787
          Fax: (607)273-0291

J&N Restaurant Associates, Inc., Endvest, Inc., Upfront, Inc., and
Willow Run Foods, Inc. are represented by:

          Louis Levine, Esq.
          MELVIN & MELVIN, PLLC
          217 South Salina Street, Suite 700
          Syracuse, NY 13202
          Tel: (315)422-1311
          Fax: (315) 479-7612
          Email: llevine@melvinlaw.com



JOY GLOBAL: Egan-Jones Cuts Sr. Unsecured Rating to BB from BB+
---------------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured rating on
debt issued by Joy Global Inc. to BB from BB+ on March 18, 2016.

Joy Global Inc. manufactures and markets underground mining
equipment and surface mining  equipment.  The Company's equipment
is used for the extraction of ores and minerals.



JUMIO INC: Meeting of Creditors Scheduled for April 25
------------------------------------------------------
The U.S. Trustee for Region 3 will convene a meeting of creditors
in the Chapter 11 cases of Jumio Inc., on April 25, 2016, at 9:00
a.m.  The meeting will be held at J. Caleb Boggs Federal Building
844 King Street, 2nd Floor, Room 2112 Wilmington, Delaware.

Headquartered in Palo Alto, California, Jumio is an online and
mobile identity management and credentials authentication company.

Its customers include, among others, Airbnb, United Airlines,
WorldRemit, EasyJet, and Duolingo.  Jumio has operations in the
United States, Europe and India.  Jumio employs 43 individuals.

Jumio Inc. filed a Chapter 11 bankruptcy petition (Bankr. D. Del.
Case No. 16-10682) on March 21, 2016.  The petition was signed by
Stephen Stuut as chief financial officer.  The Debtor estimated
assets in the range of $1 million to $10 million and debts of up
to
$50 million.  Judge Brendan Linehan Shannon has been assigned the
case.

The Debtor has engaged Landis Rath & Cobb LLP as bankruptcy
counsel, Wilmer Cutler Pickering Hale and Dorr LLP as special
corporate counsel, Ernst & Young LLP as financial advisor, Sagent
Advisors, LLC as investment banker, Cooley LLP as special SEC
counsel and Rust Consulting/Omni Bankruptcy as claims and noticing
agent.

The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of Jumio Inc.


JUMIO, INC.: McCarter & English Represents Ad Hoc Equity Committee
------------------------------------------------------------------
To comply with Rule 2019 of the Federal Rules of Bankruptcy
Procedure, McCarter & English, LLP, discloses that its represent
the Ad Hoc Committee of Equity Holders in In re Jumio, Inc., and
that additional shareholders have recently joined that group.  

The shareholders are:

     Shareholder                   No. of Shares
     -----------                   -------------
Allure Investments, LP
1512 Ridge Point Drive
Bountiful, Utah, 84010             42,000 (common)

Artar International Limited
c/o Adam Crawley
221 Pine Street, 6th Floor
San Francisco, CA 94104           326,086 (common)

J Tech Holdings, LLC
1512 Ridge Point Drive
Bountiful, Utah, 84010            472,000 (common)

Bettina Michael-Winters
Flat 7, 22-24 Bromells Road
London, SW4 0BG ENGLAND            75,000 (common)

Mokkagold International Limited
c/o Adam Crawley
221 Pine Street, 6th Floor
San Franciso, CA 94104            326,086 (common)

Markus Rumler
Anzbachgasse 77
A-1140 Vienna, Austria            221,000 (common)

Stephan Skrobar
Zauchen 68
8983 Bad Mittendorf, Austria       80,000 (common)

Thomas Willomitzer
Buchfeldgasse 13/11
1080 Vienna, Austria              880,000 (common)

The lawyers representing the shareholders are:

          William F. Taylor, Jr., Esq.
          Kate Roggio Buck, Esq.
          McCARTER & ENGLISH, LLP
          Renaissance Centre
          405 N. King Street, 8th Floor
          Wilmington, DE 19801
          Telephone 302.984.6300
          E-mail: wtaylor@mccarter.com
                  kbuck@mccarter.com

               -and-

          Charles A. Stanziale, Jr., Esq.
          Jeffrey T. Testa, Esq.
          Matthew B. Heimann, Esq.
          McCARTER & ENGLISH, LLP
          Four Gateway Center
          100 Mulberry Street
          Newark, New Jersey 07102
          Telephone: (973) 622-4444

                           About Jumio

Headquartered in Palo Alto, California, Jumio is an online and
mobile identity management and credentials authentication company.
Its customers include, among others, Airbnb, United Airlines,
WorldRemit, EasyJet, and Duolingo.  Jumio has operations in the
United States, Europe and India.  Jumio employs 43 individuals.

Jumio Inc. filed a Chapter 11 bankruptcy petition (Bankr. D. Del.
Case No. 16-10682) on March 21, 2016.  The petition was signed by
Stephen Stuut as chief financial officer.  The Debtor estimated
assets in the range of $1 million to $10 million and debts of up
to
$50 million.  Judge Brendan Linehan Shannon has been assigned the
case.

The Debtor has engaged Landis Rath & Cobb LLP as bankruptcy
counsel, Wilmer Cutler Pickering Hale and Dorr LLP as special
corporate counsel, Ernst & Young LLP as financial advisor, Sagent
Advisors, LLC as investment banker, Cooley LLP as special SEC
counsel and Rust Consulting/Omni Bankruptcy as claims and noticing
agent.


K4M CONSTRUCTION: U.S. Trustee Unable to Appoint Committee
----------------------------------------------------------
The Office of the U.S. Trustee disclosed in a court filing that no
official committee of unsecured creditors has been appointed in the
Chapter 11 case of K4M Construction & Development LLC.

K4M Construction & Development LLC sought protection under Chapter
11 of the Bankruptcy Code (Bankr. S.D. Tex. Case No. 16-30646) on
February 2, 2016. The Debtor is represented by Johnie J. Patterson,
Esq., at Walker & Patterson, PC.


KALOBIOS PHARMA: Files Plan; Black Horse Pledges Exit Loans
-----------------------------------------------------------
KaloBios Pharmaceuticals on April 7, 2016, filed its Plan of
Reorganization and the Disclosure Statement.  The Bankruptcy Court
will hold a hearing to consider approval of the Disclosure
Statement on May 6, 2016 at 9:30 a.m. (prevailing Eastern time).

The Plan provides for the payment in full of all Allowed
Administrative Claims, Fee Claims, Priority Tax Claims, Other
Priority Claims, DIP Facility Claim, and U.S. Trustee Fees on the
Effective Date of the Plan.

The Plan groups claims against and equity interests in the Debtor
in this manner:

          1. Secured Claims

Unless otherwise agreed by the Holder of an Allowed Secured Claim
and the Debtor, each Allowed Secured Claim will be reinstated
pursuant to section 1124 of the Bankruptcy Code or will receive
such other treatment as is necessary to render such Allowed Secured
Claim Unimpaired under section 1124 of the Bankruptcy Code.

          2. General Unsecured Claims

Each Holder of Allowed General Unsecured Claims will receive, at
its election, either (i) All Cash Election: Its pro rata share of
Cash from the All Cash GUC Fund in an amount not to exceed [50% -
75%] of the Allowed amount of such Allowed General Unsecured Claim;
provided, however, if the Cash available from the All Cash GUC Fund
is insufficient to provide all Holders of Allowed General Unsecured
Claims that make the All Cash Election a pro rata distribution of
Cash equal to at least [XX%] of the Allowed amount of their
respective Allowed General Unsecured Claims, then each such Holder
of an Allowed General Unsecured Claim that makes the All Cash
Election shall be entitled to receive, in addition to its ratable
share of such Cash as is available from the All Cash GUC Fund, a
Company Note in an original principal amount sufficient to allow
each such Holder of an Allowed General Unsecured Claim that has
made the All Cash Election an aggregate distribution of Cash from
the All Cash GUC Fund and the Company Note equal to [XX%] of the
Allowed amount of such Allowed General Unsecured Claim; or Mixed
Consideration Election: Its pro rata share of Cash from the Mixed
Consideration GUC Fund equal to not greater than [33%] of the
Allowed amount of such Allowed General Unsecured Claim, plus the
Company Note in the original principal amount equal to the
remaining Allowed amount of such Allowed General Unsecured Claim.

          3. Convenience Class Claims

Holders of Allowed Convenience Class Claims will receive Cash on
the later of the Effective Date or the first reasonably practicable
Distribution Date after such Claim becomes an Allowed Convenience
Class Claim in an amount equal to the Allowed amount of such
Convenience Class Claim.

          4. PIPE Claims

In a filing with the SEC on December 9, 2015, KaloBios announced
that it had entered a Securities Purchase Agreement with certain
investors for the purchase and sale of the Debtor's common stock in
a private placement in public equity transaction (the "PIPE
Transaction").  In a subsequent filing with the SEC on December 16,
2015, KaloBios announced that it had entered into an amendment to
the Securities Purchase Agreement on December 15, 2015, pursuant to
which the per share price was adjusted to $24.85 for investors
other than persons who were officers, directors, employees or
consultants of KaloBios, the number of shares was reduced to
350,224 and the aggregate purchase price of the PIPE was adjusted
to $8,818,000.

KaloBios believes that the PIPE Transaction closed on December 16,
2015, and the company received approximately $8.2 million in
proceeds.  Certain of the PIPE Investors have filed a lawsuit
against KaloBios alleging, among other things, that the PIPE
Transaction did not close and have demanded return of the money
they invested.

If Class 4 Accepts the Plan, each Holder of a PIPE Claim that has
Accepted the Plan will be Allowed and will receive in full and
final satisfaction of such PIPE Claim (i) its pro rata share of
[163,314] shares of Remaining New Common Stock and (ii)
reimbursement of reasonable, documented attorneys' fees incurred in
connection with the PIPE Litigation up $250,000 in the aggregate
among all Holders of PIPE Claims that have accepted the Plan.  The
pro rata share of Remaining New Common Stock allocated to each
Holder of an Allowed PIPE Claim shall be determined by reference to
the allocation of shares purchased in the PIPE Transaction (e.g., a
Holder of a PIPE Claim that acquired 5% of the shares of common
stock issued in the PIPE Transaction shall receive 5% of the
Remaining New Common Stock allocated to Class 4).

If Class 4 rejects the Plan, each PIPE Claim will be Disputed and
subject to allowance or disallowance in accordance with the outcome
of the PIPE Litigation and/or the procedures for resolving Disputed
Claims described in Article VII of the Plan.  All PIPE Claims will
be subordinated to the level of common stock for distribution
purposes under the Plan pursuant to section 510(b) of the
Bankruptcy Code.  The Holder of any PIPE Claim that becomes an
Allowed PIPE Claim will receive, on account of and in full and
final satisfaction of such Allowed PIPE Claim, a pro rata share of
Remaining New Common Stock, determined by the amount of such
Allowed PIPE Claim as a percentage of the total Allowed PIPE
Claims, Allowed Class 5 Claims, Allowed Class Action Claim, Allowed
Other Subordinated Claims, Allowed Existing Common Stock, and
Allowed Class 9 Common Stock.   

To the extent that any PIPE Claims are determined by Final Order
not to be subject to subordination, each such PIPE Claim will be
Disputed and subject to allowance or disallowance in accordance
with the outcome of the PIPE Litigation and/or the procedures for
resolving Claims described in Article VII of the Plan.  If such a
PIPE Claim becomes an Allowed PIPE Claim, such Allowed PIPE Claim
shall receive on account of and in full and final satisfaction of
such Allowed PIPE Claim, shares of Remaining New Common Stock of a
value, as of the date Allowed, equal to the Allowed amount of such
PIPE Claim.

          5. IAC Claims

All IAC Claims in Class 5 will be disallowed permanently and for
all purposes under the Plan pursuant to section 502(e)(1) of the
Bankruptcy Code.  To the extent, however, any IAC Claim is also an
Other Subordinated Claim and becomes an Allowed Claim, it shall be
deemed an Allowed Other Subordinated Claim and shall receive that
treatment provided for Allowed Other Subordinated Claims in Class
7.

          6. Class Action Claim

If Class 6 Accepts the Plan, [TBD]  

If Class 6 rejects the Plan, the Class Action Claim will be
Disputed and subject to allowance or disallowance in accordance
with the outcome of the Securities Litigation and/or the procedures
for resolving Disputed Claims described in Article VII of the Plan.
To the extent Allowed, the Class Action Claim will be subordinated
to the level of common stock for distribution purposes under the
Plan pursuant to section 510(b) of the Bankruptcy Code.  If
Allowed, the Class Action Claim will receive, on account of and in
full and final satisfaction of such Allowed Class Action Claim, a
pro rata share of Remaining New Common Stock, determined by the
amount of such Allowed Class Action Claim as a percentage of the
total Allowed PIPE Claims, Allowed Class 5 Claims, Allowed Class
Action Claim, Allowed Other Subordinated Claims, Allowed Existing
Common Stock, and Allowed Class 9 Common Stock.

          7. Other Subordinated Claims

Other Subordinated Claims are Disputed, and to the extent Allowed,
all Other Subordinated Claims will be subordinated to the level of
the Debtor's common stock for distribution purposes under the Plan
pursuant to section 510(b) of the Bankruptcy Code.  The Holder of
any Other Subordinated Claim that becomes an Allowed Other
Subordinated Claim will receive, on account of and in full and
final satisfaction of such Other Subordinated Claim, a pro rata
share of Remaining New Common Stock, determined by the amount of
such Other Subordinated Claim as a percentage of the total Allowed
PIPE Claims, Allowed Class 5 Claims, Allowed Class Action Claim,
Allowed Other Subordinated Claims, Allowed Existing Common Stock,
and Allowed Class 9 Common Stock.     

          8. Existing Common Stock

Existing Common Stock, other than Class 9 Common Stock, is
Unimpaired.  All Holders of Allowed Existing Common Stock shall
retain such Existing Common Stock under the Plan.   

          9. Class 9 Common Stock

The Holder of Class 9 Common Stock will receive at his election (i)
subject to the Holder of Class 9 Common Stock executing the Class 9
Stockholder Agreement in a form satisfactory to the Debtor and
Accepting the Plan, Existing Common Stock in Class 9 will be
Allowed and will retain, on account of and in full and final
satisfaction of such Class 9 Common Stock, a pro rata share of
Existing Common Stock, determined by the amount of such Existing
Common Stock as a percentage of the total Allowed PIPE Claims,
Allowed Class 5 Claims, Allowed Class Action Claim, Allowed Other
Subordinated Claims, Allowed Existing Common Stock, and Allowed
Class 9 Common Stock; or (ii) if the Holder of Class 9 Common Stock
does not execute the Class 9 Stockholder Agreement and Accept the
Plan, the Class 9 Common Stock will be Disputed and subject to
disallowance, subordination, setoff, recoupment, and any and all
claims, causes of actions, defenses, and rights of the Debtor,
including, without limitation, injunctive relief.

             Financing From Black Horse et al.

The Company disclosed in a regulatory filing with the Securities
and Exchange Commission that on April 1, 2016, it entered into a
Debtor in Possession Credit and Security Agreement with Black Horse
Capital Master Fund Ltd., as administrative agent and lender, Black
Horse Capital LP, as a lender, Cheval Holdings, Ltd., as a lender
and Nomis Bay LTD, as a lender.  The Credit Agreement provides for
a debtor-in-possession credit facility in the original principal
amount of $3,000,000.  The Credit Agreement provides that the Term
Loan will be made by the Lenders at an original discount equal to
$191,000 and requires the payment by the Company to the Lenders of
a commitment fee equal to $150,000.  In accordance with the terms
of the Credit Agreement, the Company will use the proceeds of the
Term Loan for working capital, bankruptcy-related costs, costs
related to the Company's plan of reorganization, the payment of
certain fees and expenses owed to the Agent and the Lenders in
connection with the Credit Agreement and other costs incurred in
the ordinary course of business.

The Debtor's Plan provides that, subject to higher and better
offers, the Reorganized Debtor's entry into the Exit Facility with
the Stalking Horse on the Effective Date, consisting of the $11
million in equity financing will provide the Reorganized Debtor
with the funding necessary to satisfy the Plan's cash payment
obligations and the expenses associated with closing the Exit
Facility; certain milestone payments to Savant Neglected Diseases,
LLC in connection with their deal for the Debtor to acquire the
rights to the benznidazole program for the treatment of Chagas
Disease; and working capital to finance the Reorganized Debtor's
ongoing operations and capital needs following the emergence from
Chapter 11.

Subject to higher and better offers, the Stalking Horse will
receive 5,885,000 shares of Primary Plan Sponsor New Common Stock
in the Reorganized Debtor based upon current outstanding shares of
4,451,000 on a fully anti-dilution basis.

If the Stalking Horse funds the Exit Facility, conversion of the
DIP Facility in the principal amount of approximately $3 million
into 1,960,571 shares of Primary Plan Sponsor New Common Stock; or,
if the Stalking Horse does not fund the Exit Facility, repayment of
the DIP Facility in Cash or in shares of Primary Plan Sponsor New
Common Stock at the Stalking Horse's election.  

A copy of the Plan is available at:

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

                 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.

No trustee, examiner or committee has been appointed in this
chapter 11 case.


KEY ENERGY: Egan-Jones Cuts Sr. Unsecured Rating to D From C
------------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured rating on
debt issued by Key Energy Services Inc. to D from C on March 21,
2016.  EJR also lowered its rating on the commercial paper issued
by the Company to C from CC.

Key Energy Services, Inc. provides onshore, rig-based well
services, including well maintenance, workover, completion and
re-completion, and plugging and abandonment.  The Company also
provides oilfield trucking and ancillary oilfield services.  



LEE STEEL: Liquidating Plan Declared Effective April 1
------------------------------------------------------
LSC Liquidation Inc., et al., formerly Lee Steel Corp., et al.,
announced that all conditions to the effective date set forth in
Section 11.1 of their Liquidating Plan have been satisfied and the
effective date of the Plan is deemed to have occurred on April 1,
2016.

All professionals requesting payment of fees, expenses or any other
compensation must file final applications for payment no later than
May 2, 2016, which is 30 days after the Effective Date.

Pursuant to Section 6.2 of the Plan, on the Effective Date, the
Official Committee of Unsecured Creditors was dissolved and its
members deemed released from all their duties, responsibilities,
and obligations in connection with the Chapter 11 cases or the Plan
and its implementation.

Counsel for the Liquidating Trustee:

        WOLFSON BOLTON PLLC
        Scott A. Wolfson
        Anthony J. Kochis (P72020)
        3150 Livernois, Suite 275
        Troy, MI 48083
        Telephone: (248) 247-7105
        Facsimile: (248) 247-7099
        E-mail: akochis@wolfsonbolton.com

As already reported in the TCR, Judge Marci B. McIvor signed an
order confirming the Plan of Liquidation proposed by LSC
Liquidation, Inc., formerly Lee Steel Corp., et al., after a
hearing on Nov. 24, 2015.

The Debtors' Liquidating Plan promises a 17% to 32% recovery for
unsecured creditors.  Most of the $39.1 million in sale proceeds
were paid to Huntington National Bank, and the remaining $750,000
due to Huntington will be waived.  The $400,000 from the proceeds
of the sales of the Debtors' assets that are otherwise payable to
Huntington will be included in the liquidating trust assets for the
benefit of unsecured creditors.  Unsecured creditors will also
split the recoveries from causes of action.  The $250,000 of the
sale proceeds is allocated for the fees of Huron Consulting
Services, LLC as the CRO.  Holders of equity interests won't
receive anything.

According to the Plan, Gene R. Kohut will administer the
Liquidating Trust.

A copy of the Combined Joint Plan of Liquidation and Disclosure
Statement dated Sept. 30, 2015, is available for free at:

      http://bankrupt.com/misc/Lee_Steel_370_Plan_and_DS.pdf

                    About Lee Steel Corporation

Novi, Michigan-based Lee Steel Corp., provides flat rolled steel,
including hot rolled steel, cold rolled steel, and exposed coated
products for automotive and other manufacturing industries.

Lee Steel and 2 affiliated companies -- Taylor Industrial
Properties, L.L.C., and 4L Ventures, LLC -- filed for separate
bankruptcy protection (Bankr. D. Del. Case No. 15-45784) on April
13, 2015.

The Hon. Marci B. McIvor presides over the cases.  Joshua A.
Gadharf, Esq., at McDonald Hopkins PLC, represents the Debtor.
Huron Business Advisory, serves as financial advisor; and Epiq
Bankruptcy Solutions serves as claims and noticing agent.

Lee Steel disclosed $63,206,282 in total assets and $62,659,806 in
total liabilities.

Hilco Global has purchased the steel processing facility located at
the Lee Steel Corporation site in Romulus, Michigan. The deal which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site.  The sale is expected to close in mid-September.

The U.S. Trustee for Region 9 appointed three creditors to serve on
the official committee of unsecured creditors. Conway Mackenzie,
Inc., serves as its financial advisor.

                           *     *     *

The Debtors sold their steel processing facility located in
Romulus, Michigan, to Hilco Global for $14 million.  The deal which
was approved in U.S. Bankruptcy Court includes a 200,000 square
foot plant and all of the steel processing equipment located at
that site.

Union Partners I, LLC, won an auction for the Debtors' Wyoming
facility and working capital assets with a $23.6 million offer.
Effective Sept. 18, 2015, the sale to Union Partners closed, and
the Debtors ceased operations and commenced the process of winding
down their affairs.  The Debtors changed their names to LSC
Liquidation Inc., et al., following the sale.


LIFE CARE: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Life Care St. Johns, Inc.
        235 Towerview Drive
        St. Augustine, FL 32092

Case No.: 16-01347

Type of Business: Health Care

Chapter 11 Petition Date: April 11, 2016

Court: United States Bankruptcy Court
       Middle District of Florida (Jacksonville)

Judge: Hon. Jerry A. Funk

Debtor's Counsel: Richard R Thames, Esq.
                  THAMES MARKEY & HEEKIN, P.A.
                  50 N Laura Street Suite 1600
                  Jacksonville, FL 32202-3614
                  Tel: 904-358-4000
                  E-mail: rrt@tmhlaw.net

                    - and -

                  Bradley R Markey, Esq.
                  THAMES MARKEY & HEEKIN, P.A.
                  50 N Laura Street Suite 1600
                  Jacksonville, FL 32202-3614
                  Tel: 904-358-4000
                  Fax: 904-358-4001
                  E-mail: brm@tmhlaw.net

                    - and -

                  Robert A Heekin, Jr, Esq.
                  THAMES MARKEY AND HEEKIN, PA
                  50 N. Laura Street, Suite 1600
                  Jacksonville, FL 32202
                  Tel: 904-358-4000
                  Fax: 904-358-4001
                  E-mail: rah@tmhlaw.net

Debtor's          
Sale
Broker:           WALCHLE INVESTMENT GROUP, INC.

Debtor's
Investment
Banker:           CASSIDY TURLEY COMMERCIAL REAL ESTATE SERVICES,
                  INC. DBA CUSHMAN & WAKEFIELD

Debtor's          
Operations
Consultant:       GREYSTONE DEVELOPMENT COMPANY II, LP

Debtor's          
Regulatory
Compliance
Counsel:          EDDIE WILLIAMS, III, Esq.

Debtor's          
Accountant:       MOORE STEPHENS LOVELACE, CPA

Debtor's          
Plan
Solicitation
and Tabulation
Agent:            GLOBIC ADVISORS, INC.

Debtor's          
Claims and
Noticing
Agent:            AMERICAN LEGAL CLAIM SERVICES, LLC   

Estimated Assets: $10 million to $50 million

Estimated Debts: $50 million to $50 million

The petition was signed by Bruce D. Jones, CEO.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Series 2014(a) Bondholders              Lien         $21,247,515   
            

Series 2014(b) Bondholders              Lien         $16,215,983

RQ Distribution Trust Note A            Lien          $4,323,588
c/o David Otero, Esq.
Akerman 50 N. Laura St.
#3100 Jacksonville, FL 32202

RQ Distribution Trust Note B            Lien          $3,292,616
c/o David E. Otero, Esq.
Akerman 50 N. Laura St.
#3100 Jacksonville, FL 32202

Entrance Fee                        90% Refund due      $522,216
Refund Holder                         6/12/2016
Contract No. EFRH 2005

Entrance Fee                        90% Refund due      $453,420
Refund Holder                         2/17/2016
Contract No.
EFRH2007

Entrance Fee                        90% Refund due      $387,990
Refund Holder                          6/09/2016
Contract No.
EFRH2006

Entrance Fee                        90% Refund due      $332,910
Refund Holder                         6/29/2016
Contract No.
EFRH2009

Entrance Fee                        90% Refund due      $295,650
Refund Holder                         5/10/2016
Contract No.
EFRH2004

Entrance Fee                        90% Refund due      $284,310
Refund Holder                         3/29/2016
Contract No.
EFRH2001

Entrance Fee                        75% Refund due      $269,571
Refund Holder                         3/23/2016
Contract No.
EFRH2010

Entrance Fee                        90% Refund due      $265,500
Refund Holder                          6/09/2016
Contract No.
EFRH2002

Entrance Fee                        90% Refund due      $219,510
Refund Holder                          3/14/2016
Contract No.
EFRH2003

Entrance Fee                      Refund Due             $211,649
Refund Holder
Contract No.
EFRH2011

Entrance Fee                    75% Refund due           $147,825
Refund Holder                      3/17/2016
Contract No.
EFRH2008

Internal Revenue Service             Tax                  $34,897

Principal Financial Group                                  $5,304

Residential Depositor DH0009        Deposit                $1,000

Residential Depositor DH0092        Deposit                $1,000

Residential Depositor DH0058        Deposit                $1,000


LIFE CARE: Files for Ch. 11 Anew to Facilitate Sale to LCS
----------------------------------------------------------
Life Care St. Johns, Inc., doing business as Glenmoor, filed a
second voluntary petition under Chapter 11 of the Bankruptcy Code
(Bankr. M.D. Fla. Case No.: 16-01347) on April 11, 2016, citing its
inability to fulfill the financial commitments owing to its
bondholders and the refund queue claim holders' distribution trust
as required under a confirmed Chapter 11 plan of reorganization.

Glenmoor's attorney Richard R. Thames, Esq., at Thames Markey &
Heekin, P.A., said that although Glenmoor's post-confirmation
operational performance was consistent with the Confirmed Plan
projections, Glenmoor's post-confirmation refund obligations
exceeded the actuarial projections upon which the Confirmed Plan
was based due to unexpected move-outs of community residents.

"While Entrance Fees from residents moving into Glenmoor have been
sufficient to offset the unexpected refund liabilities, the surplus
of revenues ordinarily expected from the new entries was consumed
in such effort, leaving Glenmoor with insufficient revenues to
fully fund the distribution waterfall established by the Confirmed
Plan," Mr. Thames said.

Glenmoor decided that an outright sale of its assets was preferable
to the constant renegotiation and restructuring its debt.  Due to
jurisdictional concerns regarding the Court's authority to conduct
a post-confirmation sale, Mr. Thames said it was necessary for
Glenmoor to commence a second Chapter 11 case to obtain approval of
the proposed transaction under Section 363 of the Bankruptcy Code.

On March 21, 2016, Glenmoor entered into a Stalking Horse APA with
LCS Glenmoor, LLC, an unrelated entity, pursuant to which LCS
agreed to purchase substantially all of the Debtor's assets for
$24,450,000, subject to higher and better bids.

                       2013 Chapter 11 Case

On July 3, 2013, Glenmoor filed its initial Chapter 11 case in the
U.S. Bankruptcy Court for the Middle District of Florida amid
defaults under the Debtor's 2006 Bonds and threats of enforcement
action by the Florida's Office of Insurance Regulation, the
government entity that governs the licensing and operations of
continuing care retirement community in Florida.

A consensual Plan of Reorganization was filed Nov. 27, 2013.  Among
other things, the Plan contemplated a restructuring of Glenmoor's
indebtedness through:

   (i) the exchange of the 2006 Bonds for new Series 2014A and
       Series 2014B Bonds;

  (ii) formation of Refund Queue Claim Holders' Distribution Trust
       for the benefit of prepetition Entrance Fee refund
       claimants and issuance of promissory notes in favor of the
       Refund Queue Claim Holders' Distribution Trust; and

(iii) establishment of a distribution waterfall governing the use
       and expenditure of operating and other post-confirmation
       income.

Glenmoor's Plan of Reorganization was confirmed by the Court on
Feb. 28, 2014.  The Final Decree was entered on April 6, 2016.

                   About Life Care St. Johns

Life Care St. Johns, Inc., doing business as Glenmoor, is a
not-for-profit organization that owns and operates a continuing
care retirement community in St. Johns County, Florida.  The
company received its certificate of occupancy in 1999 and began
operations in October of 2001.

As a CCRC, Glenmoor provides "lifecare services" to its residents,
each of whom reside in a residential unit.  The "lifecare" concept
recognizes that the healthcare and residency needs of elderly
residents vary along a continuum beginning with independent living
and in many cases ending with a need for full-time nursing care.
The Glenmoor community thus includes independent residential units,
an assisted living center, and a healthcare center for residents
requiring round the clock nursing care.

As disclosed in documents filed with the Court, Residency at
Glenmoor is provided pursuant to "Residence and Care Contracts"
which require prospective residents to pay an "Entrance Fee" and a
"Monthly Service Fee."  The Entrance Fee is a lump sum, one-time
payment based on the type of Residential Unit occupied by the
resident, and obligates Glenmoor to provide care to the resident so
long as he or she remains a resident and pays the Monthly Service
Fee.  Depending upon the type of contract selected, the Entrance
Fee may or may not be refundable.  For residents with refundable
Entrance Fee contracts, the refund is to be paid from the proceeds
of the next Entrance Fee received by Glenmoor.

According to Court filings, the economic recession which began in
late 2007 had a dramatic impact on Glenmoor, with fewer residents
being able to afford the required Entrance Fees as their home
equity and investments portfolios shrank in value.  With fewer new
residents entering the community than were moving out, significant
Entrance Fee refund liabilities began to accumulate, rising to
almost $8 million at their peak.  The decreasing revenues
eventually led to payment and other defaults under the $59 million
in Revenue Bonds issued in 2006 to support Glenmoor and refinance
an earlier bond issue.

The Debtor has engaged Thames Markey & Heekin, P.A., as bankruptcy
counsel; Walchle Investment Group, Inc. as sale broker; Cassidy
Turley Commercial Real Estate Services, Inc., as investment banker;
Greystone Development Company II, LP, as operations consultant;
Eddie Williams, III, Esq., as regulatory compliance counsel; Moore
Stephens Lovelace, CPA, as accountant; Globic Advisors, Inc., as
plan solicitation and tabulation agent; and American Legal Claim
Services, LLC as claims and noticing agent.

The Debtor estimated assets in the range of $10 million to $50
million and liabilities of up to $100 million.

The case is pending before the Honorable Jerry A. Funk.


LINDENHURST PARK: Moody's Affirms B1 Rating on GO Debt
------------------------------------------------------
Moody's Investors Service has affirmed the B1 on Lindenhurst Park
District, IL's general obligation (GO) debt.  Concurrently, Moody's
has assigned a positive outlook.  The rating affects $3.9 million
in outstanding rated debt.

The B1 rating reflects the risk of a default on near term debt
service payments due to a weak liquidity position and reliance on
operating revenues and property taxes that have yet to be
collected.  The rating action also incorporates the district's weak
financial position as reflected by a deficit operating fund balance
position and reliance on a line of credit to fund daily operations.
The rating also incorporates the district's moderate debt burden
and a relatively wealthy tax base.

Rating Outlook

The positive outlook reflects the district's recent increase to its
debt service levy which will reduce the likelihood of default when
receipts begin to be collected in June of 2016.

Factors that Could Lead to an Upgrade

  Significant improvements in the district's liquidity position
  across all funds that eliminates the need for cash flow
borrowing

  Improved management practices, including enhanced monitoring of
  cash flows

  Revenue or expenditure adjustments that lead to structurally
  balanced operations

Factors that Could Lead to a Downgrade

  Additional operating deficits with further reliance on
short-term
  lines of credit

  Worsening of the district's already weak liquidity

  Inability to pay debt service on time and in full

Legal Security

The district's General Obligation (Alternative Revenue Source) are
legally binding and are payable from: (a) the lawfully available
moneys in the District's Corporate Fund and principal proceeds
received by the District from the issuance of its general
obligation limited tax bonds, and (b) ad valorem taxes levied
against all taxable property in the District without limitation as
to rate or amount.

Use of Proceeds
Not applicable.

Obligor Profile

The district is located in Lake County, IL and is essentially
coterminous with the Village of Lindenhurst.  The ten square miles
district provides park and recreational facilities, and offers 110
acres of parkland, a community center, indoor and outdoor
recreational facilities, as well as a day care.  The district
serves approximately 15,000 residents.

Methodology

The principal methodology used in this rating was US Local
Government General Obligation Debt published in January 2014.


LOCATIONS II INC: Case Summary & 4 Unsecured Creditors
------------------------------------------------------
Debtor: Locations II Inc.
        216 State Route 35 S
        Point Pleasant Beach, NJ 08742

Case No.: 16-16926

Chapter 11 Petition Date: April 11, 2016

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

Judge: Hon. Michael B. Kaplan

Debtor's Counsel: Pasquale Menna, Esq.
                  MENNA LAW FIRM
                  151 Bodman Place, Ste. 300
                  Red Bank, NJ 07701
                  Tel: (732) 383-8445
                  Fax: (732) 383-8274
                  E-mail: PMenna@mennalaw.com

Total Assets: $3.28 million

Total Liabilities: $892,281

The petition was signed by Vincent Ludwig, president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/njb16-16926.pdf


LYONDELL CHEMICAL: Currier Cannot Appeal Interlocutory Order
------------------------------------------------------------
Judge Denise Cote of the United States District Court for the
Southern District of New York denied the motion filed by Diane
Currier, as executor of the estate of Richard Floor, for leave to
appeal an interlocutory order entered by the United States
Bankruptcy Court for the Southern District of New York in the
bankruptcy proceeding captioned DIANE CURRIER, as Executor of the
Estate of Richard Floor, Appellant, v. EDWARD S. WEISFELNER, as
Litigation Trustee of the LB Litigation Trust, Appellee, No.
16cv737 (DLC) (S.D.N.Y.), relating to In Re: LYONDELL CHEMICAL CO.,
et al., Debtors.

The interlocutory order sought to be appealed permitted the
substitution of the executor of the estate of Richard Floor in the
LB Litigation Trustee's complaint in which Floor was a defendant
prior to his death.  The Trustee's complaint, filed on July 22,
2009, was brought to prosecute Lyondell Chemical Corporation's and
other debtors' claims against shareholder recipients of a $12.5
billion payout by Lyondell.  Floor died on February 18, 2010.

Judge Cote determined that there are no circumstances to warrant
granting Currier's motion for leave to appeal the interlocutory
order dated January 4, 2016.

A full-text copy of Judge Cote's March 22, 2016 meorandum opinion
and order is available at http://is.gd/4J4wyWfrom Leagle.com.

Diane Currier is represented by:

          John Owen Farley, Esq.
          Jordan David Weiss, Esq.
          GOODWIN PROCTER, LLP
          The New York Times Building
          620 Eighth Avenue
          New York, NY 10018
          Tel: (212)813-8800
          Fax: (212)355-3333
          Email: jfarley@goodwinprocter.com
                 jweiss@goodwinprocter.com

            -- and --

          Michael T. Jones, Esq.
          GOODWIN PROCTER, LLP
          135 Commonwealth Drive
          Menlo Park, CA 94025
          Tel: (650)752-3100
          Fax: (650)853-1038
          Email: mjones@goodwinprocter.com


Edward S. Weisfelner is represented by:

          Sigmund Samuel Wissner-Gross, Esq.
          BROWN RUDNICK LLP
          7 Times Square
          New York, NY 10036
          Tel: (212)209-4800
          Fax: (212)209-4801
          Email: swissnergross@brownrudnick.com

                 About Lyondell Chemical

LyondellBasell Industries is one of the world's largest polymers,
petrochemicals and fuels companies.  Luxembourg-based Basell AF
and Lyondell Chemical Company merged operations in 2007 to form
LyondellBasell Industries, the world's third largest independent
chemical company.  LyondellBasell became saddled with debt as
part of the US$12.7 billion merger.  Len Blavatnik's Access
Industries owned the Company prior to its bankruptcy filing.

On Jan. 6, 2009, LyondellBasell Industries' U.S. operations,
led by Lyondell Chemical Co., and one of its European holding
companies -- Basell Germany Holdings GmbH -- filed voluntary
petitions to reorganize under Chapter 11 of the U.S. Bankruptcy
Code to facilitate a restructuring of the company's debts.  The
case is In re Lyondell Chemical Company, et al., Bankr. S.D.N.Y.
Lead Case No. 09-10023).  Seventy-nine Lyondell entities filed
for Chapter 11.  Luxembourg-based LyondellBasell Industries AF
S.C.A. and another affiliate were voluntarily added to Lyondell
Chemical's reorganization filing under Chapter 11 protection on
April 24, 2009.

Deryck A. Palmer, Esq., at Cadwalader, Wickersham & Taft LLP, in
New York, served as the Debtors' bankruptcy counsel.  Evercore
Partners served as financial advisors, and Alix Partners and its
subsidiary AP Services LLC, served as restructuring advisors.
AlixPartners' Kevin M. McShea acted as the Debtors' Chief
Restructuring Officer.  Clifford Chance LLP served as
restructuring advisors to the European entities.

LyondellBasell emerged from Chapter 11 bankruptcy protection in
May 2010, with a plan that provides the Company with US$3 billion
of opening liquidity.  A new parent company, LyondellBasell
Industries N.V., incorporated in the Netherlands, is the
successor of the former parent company, LyondellBasell Industries
AF S.C.A., a Luxembourg company that is no longer part of
LyondellBasell.  LyondellBasell Industries N.V. owns and operates
substantially the same businesses as the previous parent company,
including subsidiaries that were not involved in the bankruptcy
cases.  LyondellBasell's corporate seat is Rotterdam,
Netherlands, with administrative offices in Houston and
Rotterdam.


MAGNOLIA LANE INCOME FUND: Posts $22,515 Net Loss for Jan. 31 Qtr
-----------------------------------------------------------------
Magnolia Lane Income Fund filed its quarterly report on Form 10-Q
for the fiscal third quarter ended January 31, 2016.

The Company noted that it had an accumulated deficit of $664,279
and cash used in operations of $27,728. These conditions raise
substantial doubt about its ability to continue as a going
concern.

"The ability of the Company to continue as a going concern is
dependent upon the Company’s ability to further implement its
business plan and generate sufficient revenues," the Company said.

At Jan. 31, 2016, Magnolia Lane had total assets of $3,646,696
against total Liabilities of $2,010,315.

Magnolia Lane for the third quarter had rental revenue of $76,843
and posted a net loss of $22,515.  It posted a net loss of $156,101
for three quarters.

A copy of Magnolia Lane's SEC report is available at
http://is.gd/5CCHa3

Magnolia Lane Income Fund, formerly known as Palmerston Stock
Agency, Inc., was originally formed to commence business as a stock
agent in the wool trade.  The Company has ceased pursuing its prior
business plan and has begun focusing on a new business which is to
manage and invest in real property.  The Company intends to acquire
real estate in small markets with high degrees of safety to provide
income streams to its shareholders. In addition, the Company will
develop property, syndicate, manage and acquire property for
capital appreciation.


MAGNUM HUNTER: Exclusive Solicitation Period Extended to Sept. 13
-----------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware extended until July 13, 2016, the period by which Magnum
Hunter Resources Corporation, et al., have exclusive right to file
a Chapter 11 plan and until September 13, 2016, the period by which
the Debtors have exclusive right to solicit acceptances of the
plan.

According to Laura Davis Jones, Esq., at Pachulski Stang Ziehl &
Jones LLP, in Wilmington, Delaware, the Debtors are poised to
achieve a truly extraordinary result -- full equitization of all
of
their approximately $1 billion in prepetition funded debt
obligations and their $200 million debtor-in-possession financing
facility.  The Debtors, Ms. Jones says, are on pace to exit
bankruptcy after fewer than five months, substantially debt free.
The Debtors' proposed Chapter 11 plan of reorganization also
provides for a significant recovery for general unsecured
creditors.  The Debtors are scheduled to commence the hearing on
confirmation of the Plan on March 31, 2016, and expect to proceed
on a largely consensual basis -- with the full support of ad hoc
groups representing the vast majority of the holders of the
Debtors' prepetition secured and unsecured funded debt
obligations,
as well as the official committee of unsecured creditors appointed
in these chapter 11 cases.

Out of an abundance of caution, however, the Debtors seek an
extension of the exclusivity period in which the Debtors may file
and solicit acceptances of a chapter 11 plan.  Ms. Jones tells the
Court that the Debtors believe that maintaining the exclusive
right
to file and solicit votes on a plan of reorganization is critical
to finalizing the largely consensual and value-maximizing
restructuring contemplated by the Plan.  Extending the exclusivity
periods will afford the Debtors and their stakeholders time to
confirm the Plan, finalize the transactions contemplated by the
Plan, and proceed toward emergence in an efficient, organized
fashion.  Given the broad support for the Plan, allowing minority
stakeholders to propose a competing plan of reorganization would
not add any value to these Chapter 11 cases.  Therefore, the
Debtors request a brief extension of the exclusivity period by
three months to allow the Debtors to focus on continuing to
advance
the process and to preclude the costly disruption and instability
that would occur if competing plans were to be proposed, Ms. Jones
adds.

                        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.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware has approved the disclosure statement explaining Magnum
Hunter's Second Amended Joint Chapter 11 Plan of Reorganization.
The hearing to consider confirmation of the Plan has been moved
from March 31, 2016, to April 18, 2016.


MAGNUM HUNTER: Prime Clerk Approved as Administrative Agent
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware authorized
Magnum Hunter Resources Corporation to employ Prime Clerk LLC as
administrative advisor nunc pro tunc to the Petition Date.

As reported by the Troubled Company Reporter on Dec. 21, 2015, the
Court approved the employment of Prime Clerk as their claims and
noticing agent, effective nunc pro tunc to the Petition Date, to,
among other things, assume full responsibility for the distribution
of notices and the maintenance, processing, and docketing of proofs
of claim filed in the Debtors' Chapter 11 cases.

Prime Clerk,as administrative agent, is expected to, among other
things:

   a. prepare an official ballot certification and, if necessary,
testify in support of the ballot tabulation results;

   b. assist with the preparation of the Debtors' schedules of
assets and liabilities and statements of financial affairs and
gather data in conjunction therewith;

   c. provide a confidential data room, if requested; and

   d. manage and coordinate any distributions pursuant to a chapter
11 plan.

Prime Clerk will apply to the Court for allowance of compensation
and reimbursement of expenses incurred after the Petition Date in
connection with the services it provides pursuant to the Engagement
Agreement.

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

                      About Magnum Hunter

Irving, Texas-based Magnum Hunter Resources Corporation is
an oil and gas company that primarily engaged, through its
subsidiaries, in the acquisition, development, and production of
oil and natural gas reserves in the United States.

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.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware has approved the disclosure statement explaining Magnum
Hunter's Second Amended Joint Chapter 11 Plan of Reorganization.
The hearing to consider confirmation of the Plan has been moved
from March 31, 2016, to April 18, 2016.


MAGNUM HUNTER: Venable Files Rule 2019 Statement
------------------------------------------------
Venable LLP disclosed that it represents an ad hoc group of equity
security holders of Magnum Hunter Resources Corp.

The members of the group collectively hold approximately 3.5% of
the outstanding Series C Preferred Stock, 4.3% of the outstanding
Series D Preferred Stock, 0.0002% of outstanding Series E Preferred
Stock, and 1% of the outstanding common stock of Magnum Hunter, the
firm disclosed in a court filing.

A list of the equity security holders is available without charge
at http://is.gd/VPhYb6

Venable made the disclosure pursuant to Rule 2019 of the Federal
Rules of Bankruptcy Procedure.

The firm can be reached through:

     Jamie L. Edmonson (No. 4247)
     Daniel A. O’Brien (No. 4897)
     1201 N. Market St., Suite 1400
     Wilmington, DE 19801
     Phone: (302) 298-3535
     Fax: (302)298-3550

                        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.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware has approved the disclosure statement explaining Magnum
Hunter Resources Corporation, et al.'s Second Amended Joint Chapter
11 Plan of Reorganization.


MARKET CENTER: Cal. App. Affirms Attorney Fees Award to D. Lahave
-----------------------------------------------------------------
The Court of Appeals of California, Second District, Division One,
affirmed the trial court's award of attorney fees to Danny Lahave
in the case captioned BANK OF AMERICA, N.A., Plaintiff and
Appellant, v. DANNY LAHAVE et al., Defendants and Respondents, Nos.
B253931, B256219 (Cal. Ct. App.).

Danny Lahave, a California resident, was a guarantor to the payment
and performance of obligations set forth in a deed of trust note in
favor of Bank of America, National Association, a multinational
corporation.  Their contract contained a unilateral attorney fee
provision favoring Bank of America and specified that the contract
is to be interpreted according to New Mexico law.

When Lahave prevailed in litigation, the trial court awarded him
attorney fees under a reciprocity provision found in California
law, but not in New Mexico law.  The trial court had applied
California law upon finding that "There is no New Mexico party to
the assumed Guaranty, and the place of performance would be
California, since that is where Plaintiff demanded payment."

Bank of America appealed, arguing that New Mexico law applies,
under which no fees should be awarded.

Applying the restatement analysis under California's choice-of-law
principles, the Court of Appeals of California found that
California law applies to the guaranty notwithstanding the parties'
election of New Mexico law.  Under California law, the guaranty's
attorney fee provision is reciprocal.  Thus, the appellate court
concluded that the trial court was correct to award the guarantors
their trial and appellate attorney fees.

A full-text copy of the Court of Appeals' March 21, 2016 opinion is
available at http://is.gd/ENMjyEfrom Leagle.com.

BANK OF AMERICA, N.A. is represented by:

          Robert B. Kaplan, Esq.
          JEFFERS MANGELS BUTLER & MITCHELL
          2 Embarcadero Center 5th Floor
          San Francisco, CA 94111
          Tel: (415)398-8080
          Fax: (415)398-5584
          Email: rkaplan@jmbm.com

            -- and --

          Neil C. Erickson, Esq.
          JEFFERS MANGELS BUTLER & MITCHELL
          1900 Avenue of the Stars 7th Floor
          Los Angeles, CA 90067
          Tel: (310)203-8080
          Fax: (310)203-0567
          Email: nerickson@jmbm.com

DANNY LAHAVE et al. are represented by:

          David R. Fisher, Esq.
          Jeffrey R. Klein, Esq.
          FISHER & WOLFE
          9401 Wilshire Blvd, Suite 640
          Beverly Hills, CA 90212
          Tel: (310)278-4300
          Fax: (310)278-5430

                    About Market Center

Market Center East Retail Property, Inc., sought Chapter 11
bankruptcy (Bankr. D. N.M. Case No. 09-11696) on April 22,
2009, as a single asset real estate debtor.  At the time of the
filing, the Debtor estimated its assets and debts at less than
$10 million.  The Debtor filed a Chapter 11 Plan in June 2009, and
filed an Amended Chapter 11 Plan in August 2009.


MICRON TECHNOLOGY: Moody's Affirms Ba2 CFR, Outlook Stable
----------------------------------------------------------
Moody's Investors Service rated Micron Technology Inc.'s new Senior
Secured Term Loan B at Baa2 and affirmed Micron's other ratings,
including the Ba2 Corporate Family Rating, the Ba2-PD Probability
of Default Rating, the Ba3 Senior Unsecured rating, and the SGL-2
Speculative Grade Liquidity rating.  The outlook is stable.

Moody's expects that proceeds of up to $1.5 billion, comprised of
the new Senior Secured Term Loan B and an anticipated subsequent
offering of senior secured notes, will be used to bolster
liquidity.  Micron's liquidity is an important driver of the
rating, as Moody's expects DRAM market conditions will remain
depressed over the next year, and Moody's expects that Micron's
resulting weak profitability over the next 12 to 18 months and
large capital expenditures will result in cash consumption over
this period.

Micron's Ba2 corporate family rating (CFR) reflects Micron's strong
market position in the memory business, low financial leverage, and
large cash and marketable investments balances, which we expect to
exceed $3 billion over time.  Due to the new senior secured debt
offerings, and the anticipated debt issuance to fund the proposed
acquisition of Inotera Memories, Inc, Moody's expects debt to
increase moderately, though Moody's expects that debt to EBITDA
will only increase to the mid to upper 2x level (Moody's adjusted,
proforma for Inotera), which is low relative to many other Ba rated
issuers.  Still, this level of leverage is appropriate for the
rating, since leverage metrics can increase considerably during a
cyclical downturn in the memory market or a heavy capital program.
Currently there is weakness in the PC-DRAM market and we expect
Micron's capital spending will remain elevated as the company
converts NAND production to three dimensional structures
("3D-NAND").  Although Moody's expects the DRAM market to remain
weak over the near term, Moody's believes that Micron's large pool
of liquid assets will sustain the company through this weak phase
of the industry cycle.  Moreover, Moody's recognizes the
flexibility that Micron exhibited during the last industry downturn
(2008-2009) to temporarily defer capital expenditures, limiting the
negative free cash flow and thus preserving cash should the
downturn deepen.

The Baa2 rating of the Senior Secured Term Loan B, which is three
notches above the CFR, reflects the collateral package, which
includes the material US assets of Micron and pledge of foreign
stock, and the very large cushion of unsecured liabilities behind
the senior secured debt.  The Ba3 Senior Unsecured rating, which is
one notch below the CFR, reflects the structural subordination to
Micron's secured liabilities.  The Speculative Grade Liquidity
rating of SGL-2, reflects Micron's good liquidity, based mostly on
its significant cash and marketable securities position, which
provides Micron the ability to maintain capital expenditures during
industry downturns when profitability is weak, as is the case
currently due to depressed market conditions in DRAM.

The stable outlook reflects Moody's expectation that Micron will
consume cash over the near term due to weak profitability,
reflecting depressed market conditions in DRAM, and high capital
expenditures to fund the transition to 3D NAND production.
Moreover, the increase in debt, including the new senior secured
debt (Senior Secured Term Loan B and senior secured notes) and the
incremental debt to fund the acquisition of Inotera, will increase
debt to EBITDA into the mid to upper 2x level (Moody's adjusted,
proforma for Inotera).

Given the weak profitability we expect over the near term as the
DRAM market progresses through the low phase of the industry cycle,
a rating upgrade is unlikely over the next year.  Over the
intermediate term, the rating could be upgraded as Micron both
increases gross profit margin, indicating greater market pricing
power, and shows evidence of improved operational efficiency, such
that we expect that operating margins (Moody's adjusted) will be
sustained above the low digit teens percent through the cycle.
Moody's would expect these improvements to occur within a market
environment of continued stable market pricing and core growth in
demand for DRAM and NAND.  Maintenance of very strong liquidity,
through access to cash and generally positive free cash flow, and
for Micron to maintain a financial policy balancing the interests
of creditors and shareholders would also be important
considerations for any possible upgrade.

The ratings could be downgraded if Micron does not execute
successfully on its transition to mass production of 3D NAND or if
free cash flow becomes more negative.  The ratings could also come
under pressure if DRAM market conditions do not show signs of
improvement over the next year, with supply more closely tracking
demand.  If Moody's expects leverage will not decline toward 2.0x
EBITDA (Moody's adjusted) over the next 18 months, or Micron
engages in shareholder-friendly actions, the rating could be
downgraded.

Rating Assignments:

Issuer: Micron Technology Inc.

  Senior Secured Term Loan, Baa2, LGD1

Affirmations:

Issuer: Micron Technology Inc.

  Corporate Family Rating (Local Currency), Affirmed Ba2
  Probability of Default Rating, Affirmed Ba2-PD
  Speculative Grade Liquidity Rating, Affirmed SGL-2
  Senior Unsecured Regular Bond/Debenture, Affirmed Ba3, LGD5

Outlook Actions:

Issuer: Micron Technology Inc.

  Outlook, Stable

Micron Technology, Inc., based in Boise, Idaho, manufactures and
markets semiconductor devices, principally DRAM, NAND Flash and NOR
Flash memory, as well as other innovative memory technologies,
packaging solutions and semiconductor systems.

Inotera Memories, Inc, based in Taiwan, manufactures DRAM memory
chips on behalf of Micron.

The principal methodology used in this rating was Semiconductor
Industry Methodology published in December 2015.


MICRON TECHNOLOGY: S&P Affirms 'BB' CCR, Outlook Negative
---------------------------------------------------------
Standard & Poor's Ratings Services said it affirmed its 'BB'
corporate credit rating on Boise, Idaho-based Micron Technology
Inc.  The outlook is negative.

At the same time, S&P assigned a 'BBB-' issue-level rating to
Micron's proposed secured debt.  The recovery rating is '1',
indicating our expectation for very high (90% to 100%) recovery in
the event of a payment default.

S&P also revised the recovery ratings on Micron's existing
unsecured notes to '4' from '3', as result of the additional
secured debt, indicating S&P's expectation of average (30%-50%;
upper end of the range) recovery in the event of a payment default.
S&P affirmed the 'BB' issue-level ratings on the notes.

"The outlook revision to negative reflects our expectation of
ongoing weak memory market conditions that will result in a
material increase in the company's expected leverage, pro forma for
the debt issuances, over the coming year," said Standard & Poor's
credit analyst Jenny Chang.

Additionally, heavy capital spending to fund various technology
migrations will result in higher negative free cash flow over the
coming quarters than S&P previously anticipated.

The negative outlook reflects S&P's expectation of near-term
leverage elevated in low-3x area and negative free cash flow in
fiscal 2016 and 2017 resulting from continued challenging operating
environment amid a period of heavy capital investments to meet
technology migrations.  



NAPERVILLE THEATER: Order Dismissing IDOR's Appeal Reversed
-----------------------------------------------------------
Debtor Naperville Theater, LLC, filed a motion to establish bidding
procedures and sell substantially all of its assets under the
Bankruptcy Code.  On April 6, 2015, the Debtor conducted an
auction, acting as a debtor-in-possession and Brixmor Property
Group, Inc., and Brixmor Holdings 6 SPE, LLC, were the high bidder.
First Community Financial Bank was a secured creditor seeking to
recover the proceeds from the Sale pursuant to its lien.  IDOR had
filed a prepetition claim against the Debtor for withholding and
sales taxes.  On April 9, 2015, IDOR filed in the bankruptcy
proceedings a Limited Objection to the Motion to Approve Sale,
arguing that the Sale could not be approved free and clear of the
amounts owed to IDOR and requesting that certain amounts be turned
over to IDOR.  At a hearing on the Sale Motion on April 13, 2014,
the Bankruptcy Court overruled IDOR's Limited Objection and entered
an order approving the Sale to Brixmor free and clear of claims and
encumbrances.  On April 27, 2015, IDOR filed the instant appeal.
On May 28, 2015, the sale to Brixmor was closed and the Assets were
transferred to Brixmor.  Brixmor then resold the Assets to a third
party.

FCFB, the Trustee of the Debtor's estate, and Brixmor initially
moved to dismiss the appeal, and on October 29, 2015, the court
granted Brixmor's motion to dismiss, granted the Trustee's motion
to dismiss, and denied FCFB's motion to dismiss.  FCFB now pursues
the instant appeal, requesting that the court reverse the
Bankruptcy Court's decision.

In a Memorandum Opinion dated March 10, 2016, which is available at
http://is.gd/2q4X5Ufrom Leagle.com, Judge Samuel Der-Yeghiayan of
the United States District Court for the Northern District of
Illinois, Eastern Division, reversed the Bankruptcy Court's
decision and remanded the case to the Bankruptcy Court for further
proceedings consistent with his Opinion.

The district court proceeding is ILLINOIS DEPARTMENT OF REVENUE,
Appellant, v. NAPERVILLE THEATER, LLC et al. Appellees, No. 15 C
3697, relating to In re: NAPERVILLE THEATER, LLC, Debtor.

Illinois Department of Revenue, Appellant, is represented by Robert
Owen Lynch, III, Office Of The Illinois Attorney General.

Naperville Theater, LLC, Appellee, is represented by Frank John
Kokoszka, Esq. -- Kokoszka & Janczur, P.C..

Brixmor Holdings 6 SPE, LLC, Appellee, is represented by Allen Jay
Guon, Esq. --aguon@shawfishman.com -- Shaw,Fishman,Glantz & Towbin
LLC & Steven Bennett Towbin, Esq. -- stowbin@shawfishman.com --
Shaw Fishman Glantz & Towbin LLC.

First Community Financial Bank, Appellee, is represented by John
Ryan Potts, Esq. -- ryan@brotschulpotts.com -- Brotschul Potts LLC,
Scott A. Schaefers, Esq. -- sschaefers@brotschulpotts.com --
Brotschul Potts LLC, Michael Brett Kind, Esq. --
michael.kind@lockelord.com -- Locke Lord LLP & Phillip Wesley
Nelson, Esq. --  phillip.nelson@lockelord.com -- Locke Lord LLP.

Brixmor Property Group, Inc., Appellee, is represented by Allen Jay
Guon, Esq. -- aguon@shawfishman.com -- Shaw,Fishman,Glantz & Towbin
LLC & Steven Bennett Towbin, Esq. -- stowbin@shawfishman.com --
Shaw Fishman Glantz & Towbin LLC.

Service List, represented by U.S. Bankruptcy Court, Clerk, Clerk.

Service List, represented by Bankruptcy Judge Goldgar, United
States Bankruptcy Court.

Service List, represented by United States Trustee, Office of the
United States Trustee.

                    About Naperville Theater

Headquartered in Naperville, Illinois, Naperville Theater, LLC,
dba
Hollywood Palms Cinema, dba Hollywood Palms, opened in September
2009 as a combination movie theater and restaurant offering dinner
and a movie.


NEUROTROPE INC: Friedman LLP Expresses Going Concern Doubt
----------------------------------------------------------
Friedman LLP in East Hanover, New Jersey, audited the consolidated
balance sheets of Neurotrope, Inc. as of December 31, 2015 and
2014, and the related consolidated statements of operations,
changes in stockholders' deficit, and cash flows for the years then
ended.  The firm noted that the Company has sustained recurring
losses from operations, has significant contractual commitments,
and has not yet generated any revenues, which raises substantial
doubt about its ability to continue as a going concern.

Neurotrope did not generate any revenues for the years ended
December 31, 2015 and 2014.  It incurred losses of $9,441,535 and
$9,253,323 for the years ended December 31, 2015 and 2014,
respectively.

"The increased loss was primarily due to our increased research and
development activities and prepaid royalty obligations to BRNI
during 2015 offset by a decrease in non-cash stock-based
compensation expenses. Earnings (losses) per common share including
dividends accruable on Series B Stock for 2015 and Series A Stock
for 2014 were ($0.36) and ($0.49) for the years ended December 31,
2015 and 2014, respectively. The decrease in loss per share is
primarily attributable to the slight increase in our operating loss
for the current period partially offset by the increase in the
weighted average number of shares," Neurotrope explained in its
Form 10-K report filed with the Securities and Exchange Commission
for the year ended Dec. 31, 2015.

According to the Company, "Since inception, we incurred negative
cash flows from operations. As of December 31, 2015, we had an
accumulated deficit of $27,724,224 and had working capital of
$11,732,280 as compared to working capital of $6,818,242 as of
December 31, 2014. The $4,914,038 increase in working capital was
attributable to our November 2015 net fund raising of $13,632,546,
warrant exercise proceeds of $5,651 and non-cash expenses of
$729,294 offset expenditures relating to development of a potential
therapeutic and potential former diagnostic product and general and
administrative expenses which resulted in a net loss of $9,441,535
and capital expenditures of $11,827 for the year ended December 31,
2015."

Since inception, the Company has satisfied operating cash
requirements from the private placement of Series A and Series B
Stock sold principally to outside investors.  The Company currently
has approximately $10.6 million. These proceeds will be used, for
the next 12 months, for corporate overhead of approximately $3.6
million and $7.0 million for the continuing Alzheimer's disease
clinical trial.

"We have generated no revenues to date, have incurred substantial
losses, and have substantial contractual commitments pursuant to
various agreements to which we are a party including costs
associated with our ongoing Phase 2b clinical trial," the Company
said.

"Our ability to continue existence is dependent upon our continuing
efforts to obtain additional financing to carry out our business
plan. We intend to fund our operations through equity and/or debt
financing arrangements and any revenues generated in the future.
However, there can be no assurance that these arrangements, if any,
will be sufficient to fund our ongoing capital expenditures,
working capital, and other cash requirements. The outcome of these
matters cannot be predicted at this time.

"There can be no assurance that any additional financings will be
available to us on satisfactory terms and conditions, if at all.
These conditions raise substantial doubt as to our ability to
continue as a going concern."

A copy of the Company's SEC report is available at
http://is.gd/ednXwc

Neurotrope, Inc. is a biopharmaceutical company with product
candidates in pre-clinical and clinical development.

At Dec. 31, 2015, the Company had $12,782,424 in total assets and
$990,969 in total current liabilities, $27,724,224 in accumulated
deficit and $23,419 in total shareholders' deficit.


NEWBURY COMMON: 220 Elm Street's Case Jointly Administered
----------------------------------------------------------
Newbury Common Associates, LLC, et al., won an order directing
joint administration of 220 Elm Street II's Chapter 11 case with
the bankruptcy cases of Newbury Common Associates, LLC, et al.  All
further pleadings or papers related to 220 Elm Street II will be
filed in the case of Newbury Common Associates, LLC, Case No.
15-12507.  All orders previously entered in the Original and
Additional Debtors' jointly-administered chapter 11 cases apply
with respect to 220 Elm Street II's Chapter 11 case, except for the
Schedules Order.  In addition, all orders related to the retention
of Young Conaway Stargatt & Taylor, LLP, Anchin Block & Anchin LLP,
and Beilinson Advisory Group apply with respect to 220 Elm Street
II's Chapter 11 case.

                  About Newbury Common Associates

Newbury Common Associates, LLC, et al., comprise a corporate
enterprise that owns a diverse portfolio of high quality,
distinctive commercial, hospitality and residential properties with
an aggregate of approximately 800,000 square feet located primarily
in Stamford, Connecticut.

On Dec. 13, 2015, Newbury Common Associates, LLC, and 13 affiliates
each commenced a voluntary case (Bankr. D. Del. Lead Case No.
15-12507) under chapter 11 of the Bankruptcy Code, and on Dec. 14,
Tag Forest LLC commenced a Chapter 11 case (collectively, "Original
Debtors").  On Feb. 3, 2016, Newbury Common Member Associates, LLC
and 8 affiliates commenced a voluntary case under chapter 11 of the
Bankruptcy Code; and then on Feb. 4, 88 Hamilton Avenue Associates,
LLC, filed a Chapter 11 petition (collectively "Additional
Debtors").

Seaboard Realty, LLC, its principals or entities it manages serve
as the manager under the operating agreements for each of the
Debtors and is owned 50% by John J. DiMenna, Jr., 25% by Thomas L.
Kelly, Jr. and 25% by William A. Merritt, Jr.  The Original
Debtors other than Seaboard Residential, LLC, Tag, and Newbury
Common Associates, LLC, are holding companies whose assets are
substantially comprised of the equity of the Property Owner
Debtors.  The Debtors' eight operating property are owned by the
"Property Owner Debtors", namely Century Plaza Investor Associates,
LLC; Seaboard Hotel Associates, LLC; Seaboard Hotel LTS Associates,
LLC; Park Square West Associates, LLC; Clocktower Close Associates,
LLC; One Atlantic Investor Associates, LLC; 88 Hamilton Avenue
Associates, LLC; 220 Elm Street I, LLC; 300 Main Street Associates,
LLC; and Seaboard Residential, LLC.

220 Elm Street II, LLC, sought Chapter 11 protection (Bankr. D.
Del. Case No. 16-10653) on March 17, 2016, estimating $100 million
to $500 million in assets and debt.

The Original Debtors' chapter 11 cases are being jointly
administered pursuant to an order entered Dec. 18, 2015.  The
Debtors later won approval of a supplemental motion seeking joint
administration of the Additional Debtors' Chapter 11 cases with the
cases of the Original Debtors for procedural purposes only.  220
Elm Street's case is jointly administered with the cases of the
Original Debtors.

As of Jan. 7, 2016, the Debtors had incurred purported aggregate
funded secured indebtedness of $177 million in principal, including
approximately $150 million of property-level secured debt and
approximately $26.8 million of purported and allegedly unauthorized
mezzanine debt.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, and
Dechert LLP as attorneys, and Donlin Recano as claims and noticing
agent.


NEWBURY COMMON: Needs Until Sept. 8 to File Ch. 11 Plan
-------------------------------------------------------
Newbury Common Associates, LLC, et al., ask the U.S. Bankruptcy
Court for the District of Delaware to extend the periods within
which they may file a chapter 11 plan and solicit acceptances
thereof to September 8, 2016 and November 7, 2016, respectively.

According to Sean T. Greecher, Esq., at Young Conaway Stargatt &
Taylor, LLP, in Wilmington, Delaware, the proposed extensions align
with the Debtors' proposed schedule with respect to the sale of
substantially all of their assets.  In addition, through the
motion, the Debtors seek to align the Exclusive Periods of the
Original Debtors, the Additional Debtors, and 220 Elm II for
simplicity, in order to reduce the administrative costs of filing
separate extension motions going forward.

To the extent the Court determines that any Debtor is subject to
the SARE provisions of the Bankruptcy Code, including Section
362(d)(3), the Debtor ask the Court to extend the deadline for
filing a plan or commencing monthly payments under Section
362(d)(3) to September 8, 2016, again, which is in alignment with
the Debtors's proposed Sale timeline.

The Debtors are also represented by Robert S. Brady, Esq., Maris J.
Kandestin, Esq., and Elizabeth S. Justison, Esq., at Young Conaway
Stargatt & Taylor, LLP, in Wilmington, Delaware.

                 About Newbury Common Associates

Newbury Common Associates, LLC, et al., comprise a corporate
enterprise that owns a diverse portfolio of high quality,
distinctive commercial, hospitality and residential properties
with
an aggregate of approximately 800,000 square feet located
primarily
in Stamford, Connecticut.

On Dec. 13, 2015, Newbury Common Associates, LLC, and 13
affiliates
each commenced a voluntary case (Bankr. D. Del. Lead Case No.
15-12507) under chapter 11 of the Bankruptcy Code, and on Dec. 14,
Tag Forest LLC commenced a Chapter 11 case (collectively,
"Original
Debtors").  On Feb. 3, 2016, Newbury Common Member Associates, LLC
and 8 affiliates commenced a voluntary case under chapter 11 of
the
Bankruptcy Code; and then on Feb. 4, 88 Hamilton Avenue
Associates,
LLC filed a Chapter 11 petition (collectively "Additional
Debtors").

Seaboard Realty, LLC, its principals or entities it manages serve
as the manager under the operating agreements for each of the
Debtors and is owned 50% by John J. DiMenna, Jr., 25% by Thomas L.
Kelly, Jr. and 25% by William A. Merritt, Jr.  The Original
Debtors
other than Seaboard Residential, LLC, Tag, and Newbury Common
Associates, LLC, are holding companies whose assets are
substantially comprised of the equity of the Property Owner
Debtors.  The Debtors' eight operating property are owned by the
"Property Owner Debtors", namely Century Plaza Investor
Associates,
LLC; Seaboard Hotel Associates, LLC; Seaboard Hotel LTS
Associates,
LLC; Park Square West Associates, LLC; Clocktower Close
Associates,
LLC; One Atlantic Investor Associates, LLC; 88 Hamilton Avenue
Associates, LLC; 220 Elm Street I, LLC; 300 Main Street
Associates,
LLC; and Seaboard Residential, LLC.

The Original Debtors' chapter 11 cases are being jointly
administered pursuant to an order entered Dec. 18, 2015.  The
Debtors later won approval of a supplemental motion seeking joint
administration of the Additional Debtors' Chapter 11 cases with
the
cases of the Original Debtors for procedural purposes only.

As of Jan. 7, 2016, the Debtors had incurred purported aggregate
funded secured indebtedness of approximately $177.2 million in
principal, including approximately $150.4 million of
property-level
secured debt and approximately $26.8 million of purported and
allegedly unauthorized mezzanine debt.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, and
Dechert LLP as attorneys, and Donlin Recano as claims and noticing
agent.


NORANDA ALUMINUM: Committee Hires Lowenstein Sandler as Counsel
---------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
bankruptcy cases Noranda Aluminum, Inc., et al., seeks authority
from the U.S. Bankruptcy Court for the Eastern District of Missouri
to employ Lowenstein Sandler LLP as counsel for the Committee, nunc
pro tunc to February 22, 2016.

As counsel, Lowenstein Sandler will:

   (a) advise the Committee with respect to its rights, duties,
       and powers in these Chapter 11 Cases;

   (b) assist and advise the Committee in its consultations with
       the Debtors relative to the administration of these
       Chapter 11 Cases;

   (c) assist the Committee in analyzing the claims of the
       Debtors' creditors and the Debtors' capital structure and
       in negotiating with holders of claims and equity interests
       and the Debtors' proposed financing;

   (d) assist the Committee in its investigation of the acts,
       conduct, assets, liabilities, and financial condition of
       the Debtors and of the operation of the Debtors'
       businesses;

   (e) assist the Committee in its investigation of the liens and
       claims of the holders of the Debtors' prepetition debt
       and the prosecution of any claims or causes of action
       revealed by such investigation;

   (f) assist the Committee in its analysis of, and negotiations
       with, the Debtors or any third party concerning matters
       related to, among other things, the assumption or
       rejection of certain leases of nonresidential real
       property and executory contracts, asset dispositions, sale
       of assets, financing of other transactions and the terms
       of one or more plans of reorganization for the Debtors and
       accompanying disclosure statements and related plan
       documents;

   (g) assist and advise the Committee as to its communications
       to unsecured creditors regarding significant matters in
       these Chapter 11 Cases;

   (h) represent the Committee at hearings and other proceedings;

   (i) review and analyze applications, orders, statements of
       operations, and schedules filed with the Court and advise
       the Committee as to their propriety;

   (j) assist the Committee in preparing pleadings and
       applications as may be necessary in furtherance of the
       Committee's interests and objectives in these Chapter 11
       Cases;

   (k) prepare, on behalf of the Committee, any pleadings,
       including without limitation, motions, memoranda,
       complaints, adversary complaints, objections, or comments
       in connection with any of the foregoing; and

   (l) perform other legal services as may be required or are
       otherwise deemed to be in the interests of the Committee
       in accordance with the Committee's powers and duties as
       set forth in the Bankruptcy Code, Bankruptcy Rules, or
       other applicable law.

Lowenstein Sandler will be compensated on an hourly basis, plus
reimbursement of the actual and necessary expenses.  Lowenstein's
current standard hourly rates are:

          * Partners         $550 - $1,100
          * Senior Counsel
            and Counsel      $390 - $695
          * Associates       $285 - $595
          * Paralegals       $110 - $290

Kenneth A. Rosen, Esq., a partner at Lowenstein Sandler, assures
the Court that Lowenstein Sandler is a "disinterested person" as
that term is defined in Section 101(14) of the Bankruptcy Code.

The Court will commence a hearing on April 12, 2016, to consider
the application.  Objections are due on April 5.

                     About Noranda Aluminum

Noranda Aluminum, Inc., and 10 of its affiliates filed separate
Chapter 11 bankruptcy petitions (Bankr. E.D. Mo. Proposed Lead Case
No. 16-10083) on Feb. 8, 2016.  The petitions were signed by Dale
W. Boyles, the chief financial officer.  Judge Barry S. Schermer is
assigned to the cases.

The Debtors have engaged Paul, Weiss, Rifkind, Wharton & Garrison
LLP as counsel, Carmody MacDonald P.C. as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC as restructuring advisors and Prime Clerk LLC as claims,
solicitation and balloting agent.

The Debtors estimated both assets and liabilities in the range of
$1 billion to $10 billion.  As of the Petition Date, the Debtors
had approximately $529.6 million in outstanding principal amount of
secured indebtedness, consisting of a revolving credit facility and
a term loan facility.

The Debtors had approximately 1,857 employees as of the Petition
Date.


NORANDA ALUMINUM: Committee Taps Houlihan Lokey as Fin'l Advisor
----------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
bankruptcy cases Noranda Aluminum, Inc., et al., seeks authority
from the U.S. Bankruptcy Court for the Eastern District of Missouri
to employ Houlihan Lokey Capital, Inc., as financial advisor and
investment banker to the Committee, nunc pro tunc to February 23,
2016.

As further set forth in the parties' Engagement Agreement, Houlihan
Lokey will perform these services:

   (a) Analyzing business plans and forecasts of the Debtors;

   (b) Evaluating the assets and liabilities of the Debtors;

   (c) Assessing the financial issues and options concerning the
       sale of the Debtors, either in whole or in part, and the
       Debtors' Chapter 11 plan(s) of reorganization or
       liquidation or any other Chapter 11 plan;

   (d) Analyzing and reviewing the financial and operating
       statements of the Debtors;

   (e) Providing such other financial analyses as the Committee
       may require in connection with the Chapter 11 Cases;

   (f) Assisting in the determination of an appropriate capital
       structure for the Debtors;

   (g) Assisting with a review of the Debtors' employee benefit
       programs, including key employee retention, incentive,
       pension and other post-retirement benefit plans;

   (h) Analyzing strategic alternatives available to the Debtors;

   (i) Evaluating the Debtors' debt capacity in light of its
       projected cash flows;

   (j) Assisting in the review of claims and with the
       reconciliation, estimation, settlement, and litigation
       with respect thereto;

   (k) Assisting the Committee in identifying potential
       alternative sources of liquidity in connection with any
       debtor-in-possession financing, any Chapter 11 plan or
       otherwise;

   (l) Representing the Committee in negotiations with the
       Debtors and third parties with respect to any of the
       foregoing;

   (m) Providing testimony in Court on behalf of the Committee
       with respect to any of the foregoing, if necessary; and

   (n) Providing such other financial advisory and investment
       banking services as may be required by additional issues
       and developments not anticipated on the Effective Date.

Houlihan Lokey will be entitled to receive these, as compensation
for its services:

   -- Monthly Fee.  A monthly cash fee of $125,000 for the first
      six months during the term of the Engagement Agreement and
      $100,000 for each month thereafter.  Fifty percent (50%) of
      the Monthly Fees paid on a timely basis to Houlihan Lokey
      from and after the seventh month will be credited against
      the Deferred Fee to which Houlihan Lokey becomes entitled
      hereunder, except that, in no event, will such credits
      reduce the Deferred Fee to less than $500,000; and

   -- Deferred Fee.  In addition to the other fees provided for
      herein, the Debtors will pay Houlihan Lokey a fee of
      $1,250,000 to be paid in cash, which will be earned and
      payable upon the confirmation of a Chapter 11 plan of
      reorganization or liquidation with respect to the Debtors,
      the terms of which are approved by the Committee.

In addition to all of the other fees and expenses, the Debtors
will, upon Houlihan Lokey's request and in accordance with
applicable orders of the Bankruptcy Court, reimburse Houlihan Lokey
for its reasonable out-of-pocket expenses incurred from time to
time in connection with its services.

The Debtors agree to indemnify and hold harmless Houlihan Lokey and
its affiliates, officers, members and employees to the fullest
extent lawful, from and against losses, claims, damages or
liabilities arising out of or related to Houlihan Lokey's
engagement under the Engagement Agreement.  The indemnification
provisions of the Engagement Agreement also provides, among other
things, that the Debtors will not be liable under these provisions
for any loss, claim, damage or liability, which is finally
judicially determined by a court, to have resulted primarily from
the willful misconduct, gross negligence, or bad faith of the
Indemnified Party.

Bradley Jordan, a Managing Director of Houlihan Lokey, assures the
Court that Houlihan Lokey is a "disinterested person" as that term
is defined in Section 101( 14) of the Bankruptcy Code.

The Court will commence a hearing on April 12, 2016, to consider
the application.  Objections are due on April 5.

                     About Noranda Aluminum

Noranda Aluminum, Inc., and 10 of its affiliates filed separate
Chapter 11 bankruptcy petitions (Bankr. E.D. Mo. Proposed Lead Case
No. 16-10083) on Feb. 8, 2016.  The petitions were signed by Dale
W. Boyles, the chief financial officer.  Judge Barry S. Schermer is
assigned to the cases.

The Debtors have engaged Paul, Weiss, Rifkind, Wharton & Garrison
LLP as counsel, Carmody MacDonald P.C. as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC as restructuring advisors and Prime Clerk LLC as claims,
solicitation and balloting agent.

The Debtors estimated both assets and liabilities in the range of
$1 billion to $10 billion.  As of the Petition Date, the Debtors
had approximately $529.6 million in outstanding principal amount of
secured indebtedness, consisting of a revolving credit facility and
a term loan facility.

The Debtors had approximately 1,857 employees as of the Petition
Date.

The Office of the U.S. Trustee appointed seven creditors of
Noranda
Aluminum Holding Corp. and its affiliated debtors to serve on the
official committee of unsecured creditors.


NORTEL NETWORKS: CCAA Monitor Wants LSI's Payment Bid Adjourned
---------------------------------------------------------------
In response to the motion filed by Liquidity Solutions, Inc., in
the U.S. Bankruptcy Court for the District of Delaware for an order
(i) directing debtor Nortel Networks Inc., to make an interim cash
distribution paying in full all holders of allowed administrative
and priority claims, paying not less than $997 million to holders
of allowed unsecured claims, and establishing a reserve in the
amount of $1.2275 billion for bond guarantee claims; or in the
alternative, (ii) converting Nortel's bankruptcy cases to cases
under Chapter 7, Ernst & Young Inc., the monitor appointed in
Nortel's CCAA proceedings in Canada, asks the U.S. Bankruptcy Court
to (i) adjourn the Motion (and the time to file objections) sine
die and without prejudice, or (ii) in the alternative, direct that
the Motion be heard jointly with the Ontario Court.

"The Monitor and the Canadian Debtors would like to see
distributions made to creditors in the Nortel insolvency
proceedings as soon as possible.  However, the proposal made by LSI
in the Motion raises as many questions as it answers.  It is
uncoordinated, unilateral, and bound to create chaos among the
Nortel debtors, including further contested proceedings," Kathleen
A. Murphy, Esq., at Buchanan Ingersoll & Rooney PC, explained.

"Simply put, any interim relief with respect to the allocation and
distribution of sale proceeds cannot ignore that the Nortel group
is subject to complex, cross-border insolvency proceedings, where
there remain outstanding appeal proceedings in relation to the
allocation of such proceeds.  The Monitor and Canadian Debtors
require more time to engage in their own analysis with respect to
the predicate assumptions that would be required to authorize
interim allocations and distributions on the basis of this Court's
and the Ontario Court's decisions to adopt a modified pro rata
allocation methodology, and to develop the mechanism (and proposed
amounts) for appropriate, court-approved, interim relief that will
not jeopardize the legal positions of the respective estates."

Accordingly, the Monitor and the Canadian Debtors submit that the
Motion (and the time to file objections) should be adjourned sine
die (and without prejudice) to provide the various Nortel debtors
and estate fiduciaries sufficient time to consider potential terms
with respect to an interim allocation and distribution in the event
these cases remain in stasis during the pendency of appeals of the
allocation decisions.

In any event, Monitor and the Canadian Debtors aver that if it does
become necessary for the U.S. Court to consider any proposal with
respect to an interim allocation and distribution of sale proceeds
from the lockboxes, such relief must be heard together with the
Ontario Court in a joint hearing.

E&Y notes that LSI's decision to not seek companion relief from the
Ontario Court means that even if the U.S. Court were to enter an
order approving the Motion as it relates to the joint sale
proceeds, its order would have no practical effect since, absent
agreement among the relevant parties to the escrow agreements, the
sale proceeds may only be released from escrow by the escrow agent
upon entry of orders of both the Court and the Ontario Court after
a joint hearing conducted pursuant to the Cross-Border Insolvency
Protocol approved by the U.S. Court's Order dated June 29, 2009
(the "Cross-Border Protocol").  As such, according to E&Y, any
proposal for an (effective) interim allocation of the escrowed sale
proceeds must be considered together with the Ontario Court at a
joint hearing.

Attorneys for Ernst & Young Inc., as Monitor and Foreign
Representative of the Canadian Debtors:

         BUCHANAN INGERSOLL & ROONEY PC
         Mary F. Caloway
         Kathleen A Murphy
         919 North Market Street, Suite 1500
         Wilmington, Delaware 19801
         Tel: (302) 552-4200
         Fax: (302) 552-4295
         E-mail: mary.caloway@bipc.com
                 kathleen.murphy@bipc.com

                - and -

         ALLEN & OVERY LLP
         Ken Coleman, Esq.
         Jacob S. Pultman, Esq.
         Laura R. Hall, Esq.
         1221 Avenue of the Americas
         New York, New York 10020
         Tel: (212) 610-6300
         Fax: (212) 610-6399
         E-mail: ken.coleman@allenovery.com
                 jacob.pultman@allenovery.com
                 laura.hall@allenovery.com

                       About Nortel Networks

Headquartered in Ontario, Canada, Nortel Networks Corporation and
its various affiliated entities provided next-generation
technologies, for both service provider and enterprise networks,
support multimedia and business-critical applications.  Nortel did
Networks Limited was the principal direct operating subsidiary of
Nortel Networks Corporation.

On Jan. 14, 2009, Nortel Networks Inc.'s ultimate corporate parent
Nortel Networks Corporation, NNI's direct corporate parent Nortel
Networks Limited and certain of their Canadian affiliates
commenced
a proceeding with the Ontario Superior Court of Justice under the
Companies' Creditors Arrangement Act (Canada) seeking relief from
their creditors.  Ernst & Young was appointed to serve as monitor
and foreign representative of the Canadian Nortel Group.  That
same
day, the Monitor sought recognition of the CCAA Proceedings in
U.S.
Bankruptcy Court (Bankr. D. Del. Case No. 09-10164) under Chapter
15 of the U.S. Bankruptcy Code.

That same day, NNI and certain of its affiliated U.S. entities
filed voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Del. Case No. 09-10138).

In addition, the High Court of England and Wales placed 19 of
NNI's
European affiliates into administration under the control of
individuals from Ernst & Young LLP.  Other Nortel affiliates have
commenced and in the future may commence additional creditor
protection, insolvency and dissolution proceedings around the
world.

On May 28, 2009, at the request of administrators, the Commercial
Court of Versailles, France, ordered the commencement of secondary
proceedings in respect of Nortel Networks S.A.  On June 8, 2009,
Nortel Networks UK Limited filed petitions in U.S. Bankruptcy
Court
for recognition of the English Proceedings as foreign main
proceedings under Chapter 15.

U.S. Bankruptcy Judge Kevin Gross presides over the Chapter 11 and
15 cases.  Mary Caloway, Esq., and Peter James Duhig, Esq., at
Buchanan Ingersoll & Rooney PC, in Wilmington, Delaware, serves as
Chapter 15 petitioner's counsel.

In the Chapter 11 case, James L. Bromley, Esq., and Howard S.
Zelbo, Esq., at Cleary Gottlieb Steen & Hamilton, LLP, in New
York,
serve as the U.S. Debtors' general bankruptcy counsel; Derek C.
Abbott, Esq., at Morris Nichols Arsht & Tunnell LLP, in
Wilmington,
serves as Delaware counsel.  The Chapter 11 Debtors' other
professionals are Lazard Freres & Co. LLC as financial advisors;
and Epiq Bankruptcy Solutions LLC as claims and notice agent.

The U.S. Trustee appointed an Official Committee of Unsecured
Creditors in respect of the U.S. Debtors.

An ad hoc group of bondholders also was organized.  An Official
Committee of Retired Employees and the Official Committee of
Long-Term Disability Participants tapped Alvarez & Marsal
Healthcare Industry Group as financial advisor.  The Retiree
Committee is represented by McCarter & English LLP as Delaware
counsel, and Togut Segal & Segal serves as the Retiree Committee.
The Committee retained Alvarez & Marsal Healthcare Industry Group
as financial advisor, and Kurtzman Carson Consultants LLC as its
communications agent.

Several entities, particularly, Nortel Government Solutions
Incorporated and Nortel Networks (CALA) Inc., have material
operations and are not part of the bankruptcy proceedings.

As of Sept. 30, 2008, Nortel Networks Corp. reported consolidated
assets of $11.6 billion and consolidated liabilities of $11.8
billion.  The Nortel Companies' U.S. businesses are primarily
conducted through Nortel Networks Inc., which is the parent of
majority of the U.S. Nortel Companies.  As of Sept. 30, 2008, NNI
had assets of about $9 billion and liabilities of $3.2 billion,
which do not include NNI's guarantee of some or all of the Nortel
Companies' about $4.2 billion of unsecured public debt.

Since the commencement of the various insolvency proceedings,
Nortel has sold its business units and other assets to various
purchasers.  Nortel has collected roughly $9 billion for
distribution to creditors.  Of the total, $4.5 billion came from
the sale of Nortel's patent portfolio to Rockstar Bidco, a
consortium consisting of Apple Inc., EMC Corporation,
Telefonaktiebolaget LM Ericsson, Microsoft Corp., Research In
Motion Limited, and Sony Corporation.  The consortium defeated a
$900 million stalking horse bid by Google Inc. at an auction.  The
deal closed in July 2011.

Nortel has filed a proposed plan of liquidation in the U.S.
Bankruptcy Court.  The Plan generally provides for full payment on
secured claims with other distributions going in accordance with
the priorities in bankruptcy law.

The trial on how to divide proceeds among creditors in the U.S.,
Canada, and Europe commenced on Sept. 22, 2014.  The question of
how to divide $7.3 billion raised in the international bankruptcy
of Nortel Networks Corp. was answered on May 12, 2015, by two
judges, one in the U.S. and one in Canada.  Justice Frank Newbould
of the Ontario Superior Court of Justice in Toronto and Judge Kevin
Gross of the U.S. Bankruptcy Court in Wilmington, Del., agreed on
the outcome: a modified pro rata split of the money.


OSAGE EXPLORATION: Judge Set to Hear Bid to Reconsider DIP Order
----------------------------------------------------------------
A federal judge is set to hear a motion filed by the official
committee representing Osage Exploration and Development Inc.'s
unsecured creditors to reconsider her prior order that approved a
$1.4 million loan from Apollo Investment Corp.  

Judge Sarah Hall of the U.S. Bankruptcy Court for the Western
District of Oklahoma will take up the motion at a hearing on
April 18.

In its motion, the committee complained it "was given no avenue to
investigate potential claims or causes of action" against the
lender.

The committee, which was formed only after the judge issued the
order, is seeking additional time to investigate allegations that
Apollo exerted "undue influence" over Osage and its management
leading up to the filing of its bankruptcy case.

Judge Hall on Feb. 28 gave final approval to the $1.4 million
financing to get Osage through bankruptcy and allowed the company
to use its cash collateral to support its operations.  

                    About Osage Exploration

Headquartered 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 disclosed total assets of $11,147,152 and total
liabilities of $39,464,678.

The Debtor tapped Crowe & Dunlevy as counsel.

The Office of the U.S. Trustee on Feb. 29 appointed three creditors
to serve on the official committee of unsecured creditors.


OUTER HARBOR TERMINAL: Proposes Dunn & Crutcher as Special Counsel
------------------------------------------------------------------
Outer Harbor Terminal, LLC, seeks approval from the U.S. Bankruptcy
Court for the District of Delaware, to employ Gibson, Dunn &
Crutcher, LLP, as special counsel, effective as of March 1, 2016,
to represent the Debtor in connection with an "unfair labor
practice" proceeding filed against the Debtor by the National Labor
Relations Board ("NLRB") on July 30, 2013.

The Debtor is a respondent in the NLRB Action, in which it is
represented by Gibson Dunn as special labor litigation counsel.
Through the motion to employ professionals in the ordinary course,
the Debtor requested authorization to retain Gibson Dunn as an
ordinary course professional to continue defending the NLRB Action
effective from the Petition Date.  Pursuant to the OCP Order, no
ordinary course professional retained by the Debtor (each an "OCP")
can be paid more than $50,000 per month, excluding costs and
disbursements.  Because the trial in the NLRB Action is scheduled
to resume during April of 2016, the required activity level during
March to prepare adequately for the April trial days will likely
exceed this OCP Monthly Cap starting in March 2016 and continuing
in April 2016.

Therefore, the Debtor now seeks authority to employ Gibson Dunn as
special litigation counsel under Sections 327(e) and 328 of the
Bankruptcy Code, effective March 1, 2016, to be compensated "on
reasonable terms and conditions of employment" as set forth herein
and pursuant to the interim fee procedures established for all
professionals not employed as OCPs.  Pursuant to the Application,
Gibson Dunn is requesting to be retained by the Debtor as an OCP
pursuant to the terms of the OCP Order through the end of February
2016 and thereafter as special counsel under Sections 327(e) and
328 of the Bankruptcy Code.

Gibson Dunn has represented the Debtor in the NLRB Action since
July 2013, including defending the Debtor during six days of trial
already completed.  As a result, Gibson Dunn is intimately familiar
with the NLRB Action.  The Debtor believes that continued retention
of Gibson Dunn as special counsel is crucial because of Gibson
Dunn's special knowledge of the case.  The Debtor believes that
Gibson Dunn is the ideal firm to serve as special counsel to
continue representing the Debtor in connection with the NLRB Action
and any related litigation.

Gibson Dunn has informed the Debtor that, subject to the Court's
approval, it will bill at a 10% discount to its standard hourly
rates, which is consistent with its prepetition billing practices
with respect to the Debtor.  Gibson Dunn's standard hourly rates
for domestic timekeepers outside New York currently are as
follows:

         Billing Category        Hourly Rate
         ----------------        -----------
         Partners               $865 - $1,170
         Counsel                $795 - $860
         Associates             $480 - $795
         Paraprofessionals      $220 - $450

These professionals presently are expected to have primary
responsibility for representing the Debtor: Scott Kruse ($990) and
Tiffany Phan ($540).  Other professionals expected to represent the
Debtor in connection with the NLRB Action and complying with the
Bankruptcy Code and Bankruptcy Rules relating to Gibson Dunn's
employment by the Debtor include: Jeffrey Krause ($1,000) and Peter
Bach-y-Rita ($693).  In addition, as necessary, other Gibson Dunn
professionals and paraprofessionals will provide services to the
Debtor.

Except as set forth in Jeffrey C. Krause's declaration, Gibson
Dunn, to the best of the Debtor's knowledge, information, and
belief, does not represent, and does not hold, any interest adverse
to the Debtor or its estate, creditors, or equity security holders,
their respective attorneys, the U.S. Trustee, or any other party in
interest in the Chapter 11 Case in the matters for which Gibson
Dunn is to be retained.

The firm can be reached at:

         Jeffrey C. Krause
         GIBSON, DUNN & CRUTCHER, LLP
         Los Angeles Office
         333 South Grand Avenue
         Los Angeles, CA 90071-3197, USA
         Tel: +1 213.229.7995
         Fax: +1 213.229.6995
         E-mail: jkrause@gibsondunn.com

              - and -

         Scott Krus
         GIBSON, DUNN & CRUTCHER, LLP
         Los Angeles Office
         333 South Grand Avenue
         Los Angeles, CA 90071-3197, USA
         Tel: +1 213.229.7970
         Fax: +1 213.229.6970
         E-mail: skruse@gibsondunn.com

                    About Outer Harbor Terminal

Outer Harbor Terminal, LLC -- aka Ports America Outer Terminal,
LLC, PAOH, and PAOHT -- is an Oakland, California-based port
operator.  It is a joint venture between Ports America and Terminal
Investment Ltd.

Outer Harbor is winding down operations.  Ports America is leaving
Oakland to concentrate its investments in other terminals that the
company operates in Tacoma, Los Angeles-Long Beach, New York-New
Jersey and Baltimore.

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 petition was signed by Heather Stack, chief
financial officer.  The Hon. Laurie Selber Silverstein is the case
judge.

The Debtor scheduled $103 million in assets and $370 million in
debt.

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.  Prime Clerk LLC is the claims and
noticing agent.


PACIFIC SUNWEAR: Seeks Approval of Bidding Procedures
-----------------------------------------------------
BankruptcyData reported that Pacific Sunwear of California filed
with the U.S. Bankruptcy Court a motion to approve bidding
procedures, scheduling the bid deadline and auction and granting
related relief.

The report said, term loan lender Golden Gate Capital will serve as
the stalking horse purchasers for substantially all of the Debtors'
assets on the terms and as provided for in the Joint Plan of
Reorganization, acknowledging that the stalking horse bid will
provide for payment in full in cash of all D.I.P. facility claims
and ABL claims on the Plan's effective date or closing date of the
sale). The motion explains, "The determination of which Qualified
Bid constitutes the Baseline Bid and which Qualified Bid
constitutes the Winning Bid . . . shall take into account any
factors the Debtors, in consultation with the Term Loan Lenders,
the DIP Agent and their respective advisors, reasonably deem
relevant to the value of the Qualified Bid to their estates,
including, inter alia: (a) the amount and nature of the
consideration; (b) certainty of closing; (c) the net economic
effect of any changes to the value to be received by each of the
Debtors' classes of claims or interests from the transaction
currently set forth in the Plan, if any, contemplated by the Sale
Process Documents; and (d) tax consequences of such Qualified Bid."
The deadline to submit qualified competing bids is June 17, 2016
and an auction, if necessary, would be conducted on June 22, 2016.
Each competing bid must be accompanied by a deposit in the amount
equal to 10% of the bidder's proposed purchase price in cash to an
escrow account to be identified and established by the Debtors. The
bidding procedures require minimum overbid increments in the amount
of at least $500,000.


                        About Pacific Sunwear

Founded in 1982 in Newport Beach, California as a surf shop,
Pacific Sunwear of California, Inc. operates in the teen and young
adult retail sector, selling men's and women’s apparel,
accessories, and footwear.  The Company went public in 1993
(NASDAQ: PSUN), and peaked with 965 stores in 2006.  At present,
the Company has approximately 593 retail locations nationwide
under
the names "Pacific Sunwear" and "PacSun," which stores are
principally in mall locations.  The Company has 2,000 full-time
workers.  Through its ecommerce business, the Company operates an
e-commerce site at http://www.pacsun.com/

On April 7, 2016, Pacific Sunwear of California, Inc., and two
affiliated debtors each filed a voluntary petition for relief
under
Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy
Court
for the District of Delaware.  The cases are pending before the
Honorable Laurie Selber Silverstein, and the Debtors have
requested
joint administration of the cases under Case No. 16-10882.

The Debtors sought Chapter 11 protection with a Chapter 11 plan
that would convert debt into equity.

The Debtors tapped Young Conaway Stargatt & Taylor, LLP, and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys; FTI Consulting, Inc.,
as financial advisor; Guggenheim Securities, LLC, as investment
banker; and Prime Clerk LLC as claims and noticing agent.


PARAGON OFFSHORE: Ch. 11 Plan Goes to June 21 Confirmation Hearing
------------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware on April 11,
2016, approved the disclosure statement explaining Paragon Offshore
plc and its affiliated debtors's Second Amended Joint Chapter 11
Plan of Reorganization and scheduled the hearing to consider
confirmation of such plan for June 21, 2016, at 10:00 a.m.
(prevailing Eastern Time).

The objection raised by Secured Term Loan Agent, on behalf of the
Secured Term Loan Lenders, to the Disclosure Statement is
overruled.  The Debtors pointed out that the Secured Term Loan
Agent is the only creditor who objected to the adequacy of the
Disclosure Statement.  According to the Debtors, since before the
Petition Date, the advisors to the Secured Term Loan Lenders have
had access to the Debtors' data room and public filings, they have
been provided responses to their ongoing formal and informal
document requests, and they have met directly with the Debtors'
management to discuss the business plan and Projections
underpinning the Proposed Plan.

Holders of General Unsecured Claims will recover 100% of their
allowed claims.  Holders of Senior Notes Claims will recover 52.0%
to 66.5% of their allowed claims.

The Debtors revised Section II.C.2 of the Amended Disclosure
Statement to reflect the fact that on April 5, 2016, the Company
obtained a forbearance of the event of default relating to the
filing of the chapter 11 cases under certain lease agreements to
which certain subsidiaries of Prospector are parties, which
forbearance will become a permanent waiver upon the occurrence of
certain conditions, including that the effective date of the plan
of reorganization occurs by the outside date set forth in the Plan
Support Agreement the Debtors entered into with certain creditors
and removed from Section XI.C. of the Amended Disclosure Statement
the Prospector chapter 11 filing risk factor.

The Voting Deadline is May 31.  The deadline to object to
confirmation of the Plan is June 3.

Blacklined versions of the Further Revised Disclosure Statement and
Revised Second Amended Plan dated April 8, 2016, are available at
http://bankrupt.com/misc/PARAGONds0408.pdf

Blacklined versions of the Revised Disclosure Statement and Second
Amended Plan dated April 4, 2016, are available at
http://bankrupt.com/misc/PARAGONds0404.pdf

                        About Paragon Offshore

Paragon Offshore plc -- http://www.paragonoffshore.com/-- is a  
global provider of offshore drilling rigs.  Paragon's operated
fleet includes 34 jackups, including two high specification heavy
duty/harsh environment jackups, and six floaters (four drillships
and two semisubmersibles). Paragon's primary business is
contracting its rigs, related equipment and work crews to conduct
oil and gas drilling and workover operations for its exploration
and production customers on a dayrate basis around the world.
Paragon's principal executive offices are located in Houston,
Texas. Paragon is a public limited company registered in England
and Wales and its ordinary shares have been trading on the over-
the-counter markets under the trading symbol "PGNPF" since
December 18, 2015.

Paragon Offshore Plc, et al., filed separate Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10385 to 16-
10410) on Feb. 14, 2016, after reaching a deal with lenders on a
reorganization plan that would eliminate $1.1 billion in debt.

The petitions were signed by Randall D. Stilley as authorized
representative.  Judge Christopher S. Sontchi is assigned to the
cases.

The Debtors reported total assets of $2.47 billion and total
debts of $2.96 billion as of Sept. 30, 2015.

The Debtors have engaged Weil, Gotshal & Manges LLP as general
counsel, Richards, Layton & Finger, P.A. as local counsel, Lazard
Freres & Co. LLC as financial advisor, Alixpartners, LLP as
restructuring advisor, and Kurtzman Carson Consultants as claims
and noticing agent.


PAUL LABARRE: DIRECTV's Bid to Dismiss Appeal Granted
-----------------------------------------------------
Judge David G. Campbell of the United States District Court for the
District of Arizona granted the motion filed by DIRECTV, LLC, to
dismiss the appeal of the case captioned Paul D H LaBarre, Terri
Sue LaBarre, Appellants, v. Dale D. Ulrich, Appellee. DIRECTV, LLC
Intervenor, No. CV-15-1959-PHX-DGC (D. Ariz.).

On August 13, 2015, the U.S. Bankruptcy Court for the District of
Arizona confirmed the reorganization plan for Paul and Terri
LaBarre over their objections.  The debtors appealed.  DIRECTV
intervened and filed a motion to dismiss the appeal.

DIRECTV argued that dismissal is proper in light of the debtors'
repeated failure to comply with the procedural rules governing
bankruptcy appeals.  It further argued that dismissal is proper
because the appeal is equitably moot.  The debtors argued that they
are excused from compliance with the appeal rules because they have
filed their appear pro se.

Judge Campbell concluded that the appeal should be dismissed.  The
judge explained that the debtors' failure to comply with the rules
governing bankruptcy appeals, including their failure to secure
transmission of the record of appeal, has made it impossible for
the court to conduct an informed review of the bankruptcy court's
order.

Judge Campbell also concluded that the appeal is equitably moot, as
the debtors never moved for a stay before the district court, and
DIRECTV has shown that the trustee has substantially consummated
the reorganization plan.

A full-text copy of Judge Campbell's March 11, 2016 order is
available at http://is.gd/0Q68hMfrom Leagle.com.

Dale D Ulrich is represented by:

          Terry A Dake, Esq.
          TERRY A DAKE LTD.
          11811 N. Tatum Blvd., Suite 3031
          Phoenix, AZ 85028-1621
          Tel: (602)368-5200
          Fax: (602)494-4729

DIRECTV LLC is represented by:

          Benjamin William Reeves, Esq.
          Matthew Paul Fischer, III, Esq.
          SNELL & WILMER LLP
          One Arizona Center
          400 East Van Buren Street, Suite 1900
          Phoenix, AZ 85004-2202
          Tel: (602)382-6000
          Fax: (602)382-6070
          Email: breeves@swlaw.com
                 mfischer@swlaw.com


PEABODY ENERGY: Egan-Jones Lowers Sr. Unsecured Debt Rating to D
----------------------------------------------------------------
Egan-Jones Ratings Company downgraded the senior unsecured rating
on debt issued by Peabody Energy Corp. to D from C on March 17,
2016.

Peabody Energy Corporation mines and markets predominantly low
sulfur coal, primarily for use by electric utilities.  The Company
also trades coal and emission allowances. Peabody owns and operates
mines in Arizona, Colorado, New Mexico and Wyoming, Illinois,
Indiana, and Australia. The Company also holds a minority interest
in a Venezuelan mine through a joint venture.



PHH CORP: Moody's Puts Ba3 CFR on Review for Downgrade
------------------------------------------------------
Moody's Investors Service has placed the following PHH Corporation
(PHH) ratings on review for downgrade.

  Ba3 LT Corporate Family

  Ba3 Senior Unsecured

  (P)Ba3 Senior Unsecured MTN

Moody's affirmed the company's non-prime commercial paper rating.

                        RATINGS RATIONALE

Moody's review for downgrade follows PHH's 11 April 2016
announcement that its largest private label client, Merrill Lynch
Home Loans, a division of Bank of America, NA, has indicated its
intent to move the origination of certain loan products to its
internal operations.  PHH estimates this change would represent a
reduction of approximately 20% of Merrill Lynch's volume or
approximately 5% of PHH's 2015 loan closings.  In addition, Merrill
Lynch has informed PHH that it intends to insource its
sub-servicing portfolio by year-end an amount equal to 18% of PHH's
total servicing portfolio as of Dec. 31, 2015.  In addition, PHH's
second largest client, Morgan Stanley Private Bank, NA, which
represented 20% of PHH's 2015 loan closings, extended its contract
by one year to 31 October 2017, but will be reassessing its
mortgage origination services arrangement with the company.

These actions present significant challenges to the company's
ability to achieve adequate profitability.  In 2014 and 2015, the
company renegotiated all of their private label contracts in an
effort to enhance operating performance.  None-the-less, the
company's profitability continues to be weak due to insufficient
origination volumes.  The company's weak profitability also results
from high compliance and regulatory costs.

Offsetting the company's weak profitability, PHH's has a strong
capital position with a ratio of tangible common equity to total
assets of 35% and solid liquidity profile, including a high
unrestricted cash balance.

During the review, Moody's will assess the impact of the lost
business on the company's profitability, liquidity and capital
along with the potential for the reduction or loss of other
customers.

PHH's ratings would likely be downgraded if Moody's views the
firm's operating strategies as insufficient to restore
profitability and build franchise strength.  In addition, negative
ratings pressure would likely develop if the company's tangible
common equity to total assets decreases below 25% or its liquidity
profile weakens materially, such as if its unrestricted cash
balance over debt and repurchase facility maturities over the next
24 months falls below 70% or secured debt to tangible assets
increases above 35%.

Given the review for downgrade, it is unlikely that the company's
ratings will be upgraded.

The principal methodology used in these ratings was Finance
Companies published in October 2015.


PHH CORP: S&P Lowers Issuer Credit Rating to 'B', Outlook Negative
------------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its long-term
issuer credit rating on PHH Corp. to 'B' from 'B+'.  The outlook is
negative.  S&P also lowered its rating on the firm's senior
unsecured notes to 'B' from 'B+'.  S&P's recovery rating on the
company's senior unsecured notes is unchanged at '3', reflecting
S&P's expectation for meaningful (50% to 70%; at the lower end of
the range) recovery in the event of payment default.

"The rating change reflects the deterioration in the firm's
competitive position following the announcement that Merrill Lynch
will take a portion of its loan production and all of its
subservicing in-house," said Standard & Poor's credit analyst
Richard Zell.  PHH estimates this change would have represented 5%
of the company's 2015 loan volume.  Merrill Lynch's total loan
volume accounted for approximately 26% of PHH's overall volume in
2015.  Consequently, if Merrill Lynch decides to move its remaining
production activities to its internal operations, PHH's earnings
would deteriorate much further.

Additionally, Merrill Lynch plans to insource its $40 billion of
mortgage unpaid principal balance (UPB) that is currently
subserviced by PHH for a fee.  Merrill Lynch's UPB represents 32%
of PHH's subservicing portfolio and 18% of PHH's total servicing
portfolio as of Dec. 31, 2015.

Separately, the company also announced that Morgan Stanley, which
represented 20% of PHH's 2015 origination volume, informed PHH that
is was assessing its arrangement for its mortgage origination
services when their contract expires in October 2017.

S&P believes these announcements further compound problems for PHH,
which is already facing a rather difficult transition of its
fundamental business model.  PHH has struggled to be profitable
since the sale of its fleet business and implementation of its
re-engineering strategy that included negotiating private-label
contracts, reducing expenses, and searching for acquisitions to
improve scale.

In 2015, three of PHH's private-label clients generated 57% of the
company's origination activity: Merrill Lynch (26%), Morgan Stanley
(20%), and HSBC (11%).  S&P believes that given current market
dynamics, other clients could follow suit.  Because of this loss in
origination volume and servicing UPB from Merrill Lynch, S&P now
assess the business risk of the firm as "vulnerable."

The negative outlook on PHH reflects Standard & Poor's view that
strategic options the company is considering could weaken its
credit profile.  In addition, the uncertainty surrounding the
company's fundamental business model supports the negative
outlook.

S&P could lower the rating on PHH if the company loses further
business relationships.  S&P could also lower the rating if capital
actions or operating losses result in substantially reduced
liquidity or lower capital.  Additionally, if debt to tangible
equity increases to more than 3.0x, S&P may lower the rating.

Although less likely, S&P could raise its rating if the firm's
capital actions result in a reduction in leverage, such that S&P
projects debt to EBITDA to be less than 4x on a sustained basis.

If PHH is able to right-size its business model and extend and
amend its private-label services contracts to ensure greater volume
certainty, S&P could revise the outlook to stable.  S&P could also
revise the outlook to stable if the company demonstrates that its
financial policy will preserve the firm's current liquidity and
capital position.



PIONEER HEALTH: Hires Healthcare Management as Financial Advisor
----------------------------------------------------------------
Pioneer Health Services, Inc., et al. seek authorization from the
U.S. Bankruptcy Court for the Southern District of Mississippi to
employ Healthcare Management Partners, LLC as financial advisor to
evaluate and implement strategic and tactical options to the
restructuring process and provide administrative support during the
Chapter 11 case, nunc pro tunc to March 30, 2016.

The Debtors require Healthcare Management to:

   -- assist in performing a financial/clinical/operational review

      of the Debtor;

   -- assist in the identification and implementation of
      financial, clinical, strategic and operations improvement
      opportunities;

   -- assist the CEO in developing and reviewing possible
      restructuring plans or strategic alternatives;

   -- work will local and city government to help assure the
      availability of health care services;

   -- work with the State Medicaid office and with Medicare on
      reimbursement of shortfalls and related matters; and

   -- provide appropriate reports to the Court and related
      matters.

Healthcare Management will be paid at these hourly rates:

       Managing Director          $550
       Director                   $420
       Senior Associate           $340
       Associate                  $240
       Data Analyst               $180

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

The Bankruptcy Court will hold a hearing on the application on
April 15, 2016, at 10:15 a.m.  

Healthcare Management can be reached at:

       HEALTHCARE MANAGEMENT PARTNERS, LLC
       1185 Ave of the Americas
       New York, NY 10036
       Tel: (212) 461-4250

Pioneer Health Services, Inc. and its debtor-affiliates, including
Medicomp Inc., filing separate Chapter 11 bankruptcy petitions
(Bankr. S.D. Miss. Case No. 16-01119 to 16-01126) on March 30,
2016.  The Debtors provide healthcare services to rural
communities, and own and manage rural critical access hospitals.

Judge Hon. Neil P. Olack presides over the Debtors' cases.  The Law
Offices of Craig M. Geno PLLC serves as the Debtors' counsel.

Pioneer Health Services estimated $10 million to $50 million in
both assets and liabilities.  The petitions were signed by Joseph
S. McNulty III, president.


PLEASE TOUCH MUSEUM: Plan Effective Date Occurred March 31
----------------------------------------------------------
Please Touch Museum announced that all conditions precedent to the
Effective Date of its Chapter 11 Plan have been satisfied or
waived, and the Effective Date occurred on March 31, 2016.

All applications for compensation for services rendered and
reimbursement of expenses incurred by professionals (a) from the
Petition Date through the Effective Date, or (b) at any time during
the Chapter 11 Case, when such compensation is sought pursuant to
Sections 503(b)(2) through (b)(5) of the Bankruptcy Code, are due
no later than 45 days after the Effective Date or such later date
as the Bankruptcy Court approves.

Pursuant to the Plan, all claims arising out of the rejection of
any executory contract or unexpired lease must be filed in
accordance with the Plan no later than the earlier of (a) the date
set by the Bankruptcy Court for the filing of a rejection claim or
(b) 30 days from the date on which the relevant executory contract
or unexpired lease is effectively rejected by the Debtor.  Any
claim not filed and served in accordance with the Plan within such
time period will be forever barred.

Pursuant to section 5.05 of the Plan, all checks issued in respect
of distributions under the Plan shall be null and void if not
negotiated within 90 days after the date of issuance, and holders
of claims in respect of void checks will be barred from asserting a
claim to such funds if a timely request for reissuance is not
made.

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 provides;

   * 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.  

   * Each Holder of an allowed general unsecured claim will receive
an amount of distributable cash equal to 100% of the aggregate
amount in U.S. dollars of the holder's allowed general Unsecured
Claim, paid in equal quarterly installments over a 2-year period
with interest at 4% per annum and commencing on the Effective Date;
or, if such holder affirmatively elects such treatment, an amount
of Distributable Cash equal to 90% of the aggregate amount in U.S.
dollars of the holder's general unsecured
claim, paid on the later of the Effective Date or the date that the
claim becomes allowed.

   * Each holder of allowed interests will retain its interest and
receive no property or other value distribution on account of its
interest.

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.


PMA MEDICAL: U.S. Trustee Forms 2-Member Committee
--------------------------------------------------
Andrew Vara, acting U.S. trustee for Region 3, on April 11
appointed two creditors of PMA Medical Specialists LLC to serve on
the official committee of unsecured creditors.

The committee members are:

     (1) McKesson Specialty Health
         401 Mason Road
         La Vergne, TN 37086
         Attn: David Corcoran, Vice President
         Phone: (615) 287-5324
         Email: David Corcoran@McKesson.com

     (2) Ancero, LLC
         1001 Briggs Road, Suite 220
         Mt. Laurel, NJ 08054
         Attn: Robert Hogg, Managing Partner
         Phone: (856) 210-5805
         Fax: (856) 210-5855
         Email: rhogg@ancero.com

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

                        About PMA Medical

PMA Medical Specialists, LLC sought protection under Chapter 11 of
the Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern
District of Pennsylvania (Philadelphia) (Case No. 16-12016) on
March 24, 2016. The petition was signed by Raymond J. Kovalski, MD,
president.

The Debtor is represented by Edmond M. George, Esq., at Obermayer
Rebmann Maxwell & Hippel, LLP.  The case is assigned to Judge
Ashely M. Chan.

The Debtor estimated both assets and liabilities in the range of $1
million to $10 million.


POSTROCK ENERGY: U.S. Trustee Forms 3-Member Committee
------------------------------------------------------
The Office of the U.S. Trustee on April 11 appointed three
creditors of PostRock Energy Corp. to serve on the official
committee of unsecured creditors.

The committee members are:

     (1) Oklahoma Tower Realty Investors LLC
         City Center Garage
         204 N. Robinson, Suite 700
         Oklahoma City, OK 73102
         Representative: Mark Beffort
         Telephone: 405-840-1500

     (2) Black Land Management
         P.O. Box 38
         Bowden, WV 26254
         Representative: Brian Black
         Telephone: 304-637-2758

     (3) Chandler Oil LLC
         P.O. Box 564
         Chanute, KS 66720
         Representative: Charles Chandler
         Telephone: 620-431-4720

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

                           About PostRock

Headquartered in Oklahoma City, Oklahoma, PostRock Energy
Corporation, PostRock Energy Services Corporation, PostRock
MidContinent Production LLC, PostRock Eastern Production, LLC,
PostRock Holdco, LLC, and STP Newco, Inc. are engaged in the
acquisition, exploration, development, production and gathering of
crude oil and natural gas.  The Debtors' primary production
activity is focused in the Cherokee Basin, a 15-county region in
southeastern Kansas and northeastern Oklahoma.  The Debtors have
approximately 129 employees.

PostRock Energy, et al., filed Chapter 11 bankruptcy petitions
(Bankr. W.D. Okla. Lead Case No. 16-11230) on April 1, 2016.  Clark
Edwards signed the petitions as president.  The Debtors estimated
assets in the range of $10 million to $50 million and debt of up to
$100 million.

Crowe & Dunlevy, P.C. serves as the Debtors' counsel.

Judge Sarah A. Hall is assigned to the cases.


PROVIDENCE HALL: 4th Cir. Affirms Dismissal of Suit vs. Wells Fargo
-------------------------------------------------------------------
Providence Hall Associates appeals the district court's dismissal
of its lawsuit against Wells Fargo Bank, contending that the
district court erroneously gave res judicata effect to various sale
orders issued during PHA's Chapter 11 bankruptcy.

PHA filed suit in Virginia state court, which Wells Fargo removed
to federal court, alleging new theories of lender liability.  PHA
claimed that the interest-rate-swap transaction was a "sham"
because "the LIBOR rate was illegally rigged and manipulated."
Wells Fargo filed a motion to dismiss, which the district court
granted on res judicata grounds, giving preclusive effect to the
bankruptcy court's sale orders.  The court then denied PHA's motion
for reconsideration thus this appeal.

In a Decision dated March 11, 2016, which is available at
http://is.gd/jYgCkXfrom Leagle.com, the United States Court of
Appeals for the Fourth Circuit affirmed the judgment of the
district court as the elements of res judicata are satisfied.

The case is PROVIDENCE HALL ASSOCIATES LIMITED PARTNERSHIP,
Plaintiff-Appellant, v. WELLS FARGO BANK, N.A., successor in
interest to Wachovia Bank, N.A., Defendant-Appellee, No. 14-2378
(4th Cir.).

Gary M. Bowman, Esq. -- gary@garymbowman.com -- Roanoke, Virginia,
for Appellant.

Jeffrey L. Tarkenton, Esq. -- JTarkenton@wcsr.com -- WOMBLE CARLYLE
SANDRIDGE & RICE, LLP, Washington, D.C., for Appellee.

B. Chad Ewing, Esq. -- cewing@wcsr.com -- WOMBLE CARLYLE SANDRIDGE
& RICE, LLP, Charlotte, North Carolina, for Appellee.


QUANTUM FUEL: Hires Kerr Russell as Special Corporate Counsel
-------------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc. dba Quantum
Technologies seeks authorization from the Hon. Mark S. Wallace of
the U.S. Bankruptcy Court for the Central District of California to
employ  Kerr, Russell and Weber, PLC  as special corporate counsel,
nunc pro tunc to the March 22, 2016 petition date.

The Debtor seeks authority to employ Kerr Russell as special
corporate counsel to provide corporate services, including without
limitation drafting the asset purchase agreement with a topping
bidder and closing the sale transaction under the APA during the
term of this chapter 11 proceeding pursuant to sections 327(e),
328(a), 329 and 1107 of the Bankruptcy Code, Rules 2014(a) and
2016(b) of the Federal Rules of Bankruptcy Procedure, and Local
Bankruptcy Rule 2014-1.

Kerr Russell will be paid at these hourly rates:

       Michael D. Gibson            $400
       Patrick J. Haddad            $375
       John D. Gatti                $360
       Jason W. Bank                $340
       William C. Blasses           $220

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

Prior to the bankruptcy filing, Debtor paid Kerr Russell a retainer
of $25,000 in connection with preparation for the chapter 11 filing
and related matters. Prior to the Petition Date, Kerr Russell
received a payment of $16,507.75 from the retainer for services
rendered. Kerr Russell is holding a retainer of $8,492.25 in
connection with services to be rendered in this chapter 11
proceeding.

Michael D. Gibson, member of Kerr Russell, 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.

Kerr Russell can be reached at:

       Michael D. Gibson, Esq.
       Kerr, Russell and Weber, PLC
       Detroit Center, Suite 2500
       500 Woodward Avenue
       Detroit, MI 48226-3427
       Tel: (313) 961-0200  
       Fax: (313) 961-0388
       E-mail: mgibson@kerr-russell.com

                         About Quantum Fuel

Lake Forest, California-based Quantum Fuel Systems Technologies
Worldwide, Inc., is an innovator, developer and producer of
compressed natural gas (CNG) fuel storage tanks and packaged fuel
storage systems for heavy-, medium-, and light-duty trucks and
passenger vehicles.  The Company also produces integrated vehicle
system technologies, including engine and vehicle control systems
and drivetrains.  It supplies its tanks and systems to truck and
automotive original equipment manufacturers and aftermarket and OEM
truck integrators worldwide.

Quantum Fuel filed a Chapter 11 bankruptcy petition (Bankr. C.D.
Calif. Case No. 16-11202) on March 22, 2016.  The petition was
signed by Brian W. Olson as chief executive officer.  The Debtor
listed total assets of $23.10 million and total debts of $21.7
million.  Foley & Lardner LLP represents the Debtor as counsel.
Judge Mark S Wallace is assigned to the case.



QUANTUM FUEL: Taps Garden City as Claims & Noticing Agent
---------------------------------------------------------
Quantum Fuel Systems Technologies Worldwide, Inc. dba Quantum
Technologies seeks authorization from the U.S. Bankruptcy Court for
the Central District of California to employ Garden City Group, LLC
as claims noticing and balloting agent, effective March 22, 2016.

The Debtor requires Garden City to:

   (a) prepare and serve required notices in this Chapter 11 Case:

       -- notice of the commencement of this Chapter 11 Case and
          the initial meeting of creditors pursuant to § 341(a) of

          the Bankruptcy Code;

       -- notice of the claims bar date;

       -- notice of objections to claims;

       -- notice of any hearings on the disclosure statement and
          confirmation of the plan of reorganization, including
          the plan of reorganization, disclosure statement, and
          ballots; and

       -- all other notices, orders, pleadings, publications, and
          other documents as the Debtor or Court may deem
          necessary or appropriate for an orderly administration
          of this Case;

   (b) after the mailing of a particular notice, prepare for
       filing with the Bankruptcy Court a certificate or affidavit

       of service that includes, an alphabetical list of persons
       to whom the notice was mailed, the date and manner of
       mailing, and, if the notice is not a docketed pleading, a
       copy of the notice involved;

   (c) receive and record proofs of claim and proofs of interest
       filed;

   (d) create and maintain official claims registers, including,
       among other things, the following information for each
       proof of claim or proof of interest:
       -- the name and address of the claimant and any agent
          thereof, if the proof of claim or proof of interest was
          filed by an agent, and the entity against which such
          claim was filed;

       -- the date received;

       -- the claim number assigned;

       -- the asserted amount and classification of the claim;

       -- implement necessary security measures to ensure the
          completeness and integrity of the claims registers; and

       -- transmit to the Clerk's Office a copy of the claims
          registers upon request and at agreed upon intervals;

       -- permit the Clerk to audit the claims information at any
          time;

   (e) act as balloting agent which will include the following
       services:

       -- print ballots including the printing of creditor- and
          shareholder-specific ballots, if applicable pursuant to
          the plan of reorganization;

       -- prepare voting reports by plan class, creditor or
          shareholder and amount for review and approval by the
          Debtor and its counsel;

       -- coordinate mailing of ballots, disclosure statement and
          plan of reorganization or other appropriate materials to

          all voting and nonvoting parties and provide affidavit
          of service;

       -- establish a telephone contact number to receive
          questions regarding voting on the plan; and

       -- receive and tabulate ballots, inspect ballots for
          conformity to voting  procedures, date stamp and number
          ballots consecutively, provide computerized balloting
          database services and certify the tabulation results;

   (f) maintain an up-to-date mailing list for all entities that
       have filed a proof of claim or proof of interest, which
       list shall be available upon request of a party in interest

       or the Clerk's Office;

   (g) provide access to the public for examination of the claims
       register and copies of the proofs of claim or interest
       without charge during regular business hours at GCG's
       offices at 5151 Blazer Parkway, Suite A, Dublin, OH 43017
       and on a case-specific website maintained by GCG;

   (h) record all transfers of claims pursuant to Rule 3001(e) of
       the Federal Rules of Bankruptcy Procedure and provide
       notice of such transfers as required by Bankruptcy Rule
       3001(e);

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

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

   (j) promptly comply with such further conditions and
       requirements as the Clerk's Office or the Court may at any
       time prescribe; and

   (k) perform such other administrative and support services
       related to noticing, claims, docketing, solicitation and
       distribution as the Debtor may reasonably request and which

       GCG may agree to perform, including but not limited to,
       providing administrative support services with respect to
       the Debtor's information assembly and dissemination/
       distribution functions.

Garden City will be paid at these hourly rates:

       Administrative, Mailroom
       and Claims Control              $45-$55
       Project Administrators          $70-$85
       Project Supervisors             $95-$110
       Graphic Support &
       Technology Staff                $100-$200
       Project Managers and
       Senior Project Managers         $125-$175
       Directors and Asst.
       Vice Presidents                 $200-$295
       Vice Presidents and above       $295

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

Prior to the Petition Date, the Debtor provided Garden City a
retainer in the amount of $5,000.

Isabel Baumgarten, assistant vice president of Garden City, 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.

Garden City can be reached at:

       Isabel Baumgarten
       GARDEN CITY GROUP, LLC
       1985 Marcus Ave
       Lake Success, NY 11042
       Tel: (631) 470-1807
       E-mail: isabel.baumgarten@gardencitygroup.com

                         About Quantum Fuel

Lake Forest, California-based Quantum Fuel Systems Technologies
Worldwide, Inc., is an innovator, developer and producer of
compressed natural gas (CNG) fuel storage tanks and packaged fuel
storage systems for heavy-, medium-, and light-duty trucks and
passenger vehicles.  The Company also produces integrated vehicle
system technologies, including engine and vehicle control systems
and drivetrains.  It supplies its tanks and systems to truck and
automotive original equipment manufacturers and aftermarket and OEM
truck integrators worldwide.

Quantum Fuel filed a Chapter 11 bankruptcy petition (Bankr. C.D.
Calif. Case No. 16-11202) on March 22, 2016.  The petition was
signed by Brian W. Olson as chief executive officer.  The Debtor
listed total assets of $23.10 million and total debts of $21.7
million.  Foley & Lardner LLP represents the Debtor as counsel.
Judge Mark S Wallace is assigned to the case.


RAYMOND SMITH: Three Day Can Intervene in Suit vs. Accredited
-------------------------------------------------------------
Raymond Smith purchased a home on Brisbane Place in 2006 and
secured his mortgage with a deed of trust in favor of Accredited
Home Lenders, Inc.  Smith claims that the Mortgage Electronic
Registration System assigned that deed of trust to Household
Finance Reality Corp. of Nevada Mortgage in 2012, in an attempt "to
fraudulently steal plaintiff's home" and transfer assets that
belonged to Accredited's Chapter 11 bankruptcy trustee.  Smith sued
Accredited and U.S. Bank Trust, N.A., but the United States
District Court for the District of Nevada dismissed the claims
against U.S. Bank Trust on its unopposed motion. Accredited -- the
lone remaining defendant -- has not appeared.

Non-party Three Day Home Sales, LLC, moves to intervene in this
action. Three Day explains that Smith lost the home in an October
2014 foreclosure sale at which U.S. Bank Trust was the purchaser.
Three Day bought it from U.S. Bank Trust in October 2015, and is
under contract to sell it to a new buyer. In fact, the sale was
scheduled to close on February 10, 2016, but Smith filed and
recorded a notice of lis pendens against the property, clouding
title and preventing Three Day from conveying clear title.

In an Order dated March 10, 2016, which is available at
http://is.gd/2LLk1nfrom Leagle.com, Judge Jennifer A. Dorsey of
the United States District Court for the District of Nevada granted
Three Day's Motion to Intervene for the limited purpose of seeking
to cancel the lis pendens.  Raymond Smith is directed to show cause
why the notice of lis pendens should not be expunged.

The case is Raymond Smith, Plaintiff v. Accredited Home Lenders, et
al. Defendant, No. 2:15-cv-00565-JAD-GWF (D. Nev.).

Raymond Smith, Plaintiff, Pro Se.

Three Day Home Sales, LLC, Intervenor Defendant, is represented by
John M Netzorg, Esq. -- Law Offices John M. Netzorg.


RCS CAPITAL: Cetera Debtors Tap Prime Clerk as Claims Agent
-----------------------------------------------------------
The Cetera Debtors in bankruptcy cases of RCS Capital Corporation,
et al., seek authority from the U.S. Bankruptcy Court for the
District of Delaware to appoint Prime Clerk LLC as claims and
noticing agent in the Cetera Debtors' Chapter 11 cases, nunc pro
tunc to the Cetera Petition Date.

The terms of Prime Clerk's retention are set forth in the
engagement agreement dated February 8, 2016.  However, the Debtors
are seeking approval solely of the terms and provisions of the
Engagement Agreement as set forth in the Application and the
Proposed Order.  By separate application, the Debtors anticipate
seeking authorization to retain and employ Prime Clerk as
administrative advisor in the Cetera Debtors' Chapter 11 cases,
pursuant to Section 327(a) of the Bankruptcy Code, because the
administration of the Cetera Debtors Chapter 11 cases will require
Prime Clerk to perform duties outside the scope of Section 156(c)
of the Judiciary and Judicial Procedures Code, including serving as
balloting agent in connection with the Cetera Debtors Plan.

Prime Clerk is currently acting as administrative advisor in the
RCS Debtors' Chapter 11 cases.

To the extent necessary in the Cetera Debtors' cases, Prime Clerk
will perform these tasks in its role as the Claims Agent, as well
as all quality control relating thereto, if the circumstances of
the Cetera Debtors' cases so require:

   (a) Prepare and serve required notices and documents in these
       Chapter 11 cases in accordance with the Bankruptcy Code
       and the Bankruptcy Rules in the form and manner directed
       by the Cetera Debtors and the Court, including, as
       applicable:

       * notice of the commencement of the Cetera Debtors'
         Chapter 11 cases and the initial meeting of creditors
         under Section 341(a) of the Bankruptcy Code;

       * notice of any claims bar date;

       * notices of transfers of claims;

       * notices of objections to claims and objections to
         transfers of claims;

       * notices of any hearings on a disclosure statement and
         confirmation of the Cetera Debtors' plan or plans of
         reorganization, including under Bankruptcy Rule
         3017(d);

       * notice of the effective date of any plan; and

       * all other notices, orders, pleadings, publications and
         other documents as the Cetera Debtors or Court may deem
         necessary or appropriate for an orderly administration
         of the Cetera Debtors' Chapter 11 cases;

   (b) Maintain an official copy of the Cetera Debtors' schedules
       of assets and liabilities and statements of financial
       affairs, listing the Cetera Debtors' known creditors and
       the amounts owed thereto;

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

   (d) Furnish a notice to all potential creditors of the last
       date for filing proofs of claim and a form for filing a
       proof of claim, after such notice and form are approved by
       the Court, and notify said potential creditors of the
       existence, amount and classification of their respective
       claims as set forth in the Schedules, which may be
       effected by inclusion of such information (or the lack
       thereof, in cases where the Schedules indicate no debt due
       to the subject party) on a customized proof of claim form
       provided to potential creditors;

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

   (f) For all notices, motions, orders or other pleadings or
       documents served, prepare and file or cause to be filed
       with the Clerk an affidavit or certificate of service
       within seven (7) business days of service, which
       includes (i) either a copy of the notice served or the
       docket number(s) and title(s) of the pleading(s) served,
       (ii) a list of persons to whom it was mailed (in
       alphabetical order) with their addresses, (iii) the manner
       of service and (iv) the date served;

   (g) Process all proofs of claim received, including those
       received by the Clerk, check said processing for accuracy
       and maintain the original proofs of claim in a secure
       area;

   (h) Maintain the official claims register for the Cetera
       Debtors on behalf of the Clerk, and upon the Clerk's
       request, provide the Clerk with a certified, duplicate
       unofficial Claims Register, and specify in the Claims
       Register the following information for each claim
       docketed;

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

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

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

   (l) Upon completion of the docketing process for all claims
       received to date for each Cetera Debtors' case, turn over
       to the Clerk copies of the Claims Register for the Clerk's
       review (upon the Clerk's request);

   (m) Monitor the Court's docket for all notices of appearance,
       address changes, and claims-related pleadings and orders
       filed and make necessary notations on and changes to the
       Claims Register and any service or mailing lists,
       including to identify and eliminate duplicative names and
       addresses from such lists;

   (n) Identify and correct any incomplete or incorrect addresses
       in any mailing or service lists;

   (o) Assist in the dissemination of information to the public
       and respond to requests for administrative information
       regarding the Cetera Debtors' Chapter 11 cases as directed
       by the Cetera Debtors or the Court, including through the
       use of a case website and/or call center;

   (p) Monitor the Court's docket in the Cetera Debtors' Chapter
       11 cases and, when filings are made in error or containing
       errors, alert the filing party of such error and work with
       them to correct any such error;

   (q) If the Cetera Debtors' chapter 11 cases are converted to
       cases under Chapter 7 of the Bankruptcy Code, contact the
       Clerk within three days of notice to Prime Clerk of entry
       of the order converting the cases;

   (r) Thirty (30) days prior to the close of the Cetera Debtors'
       Chapter 11 cases, to the extent practicable, request that
       the Cetera Debtors submit to the Court a proposed order
       dismissing Prime Clerk as Claims Agent and terminating its
       services in such capacity upon completion of its duties
       and responsibilities and upon the closing of such Chapter
       11 cases;

   (s) Within seven (7) days of notice to Prime Clerk of entry of
       an order closing the Cetera Debtors' Chapter 11 cases,
       provide to the Court the final version of the Claims
       Register as of the date immediately before the close of
       such Chapter 11 cases; and

   (t) At the close of the Cetera Debtors' Chapter 11 cases, box
       and transport all original documents, in proper format, as
       provided by the Clerk's, to (i) the Federal Archives
       Record Administration, located at Central Plains Region,
       200 Space Center Drive, Lee's Summit, MO 64064 or (ii) any
       other location requested by the Clerk.

The Cetera Debtors request that the fees and expenses incurred by
Prime Clerk in the performance of the services be treated as
administrative expenses of the Cetera Debtors' estates pursuant to
Section 503(b)(1)(A) of the Bankruptcy Code and be paid in the
ordinary course of business without further application to, or
order of, the Court.

The hourly rates of Prime Clerk's employees are:

        Analyst                     $30 - $45
        Technology Consultant       $65 - $75
        Consultant                  $80 - $130
        Senior Consultant          $135 - $150
        Director                   $170 - $190
        Solicitation Consultant    $190
        Director of Solicitation   $210

Prior to the Cetera Petition Date, the Cetera Debtors provided
Prime Clerk a retainer in the amount of $50,000.

Additionally, under the terms of the Engagement Agreement, the
Cetera Debtors have agreed to indemnify, defend and hold harmless
Prime Clerk and its members, officers, employees, representatives
and agents under certain circumstances specified in the Engagement
Agreement, except in circumstances resulting solely from Prime
Clerk's gross negligence or willful misconduct or as otherwise
provided in the Engagement Agreement or Retention Order.

Michael J. Frishberg, the Co-President and Chief Operating Officer
of Prime Clerk, assures the Court that Prime Clerk is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code.

                        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 RCS Debtors' 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.  RCS Capital Corp. disclosed total assets of
$1,403,924,232 and total liabilities of $912,449,960.

RCS Capital's affiliates led by Cetera Advisor Networks Insurance
Services, LLC and Cetera Financial Group, Inc. filed separate
Chapter 11 petitions (Bankr. D. Del. Case Nos. 16-10730 to
16-10748) on March 26, 2016.  The cases are jointly administered
under the Chapter 11 case of RCS Capital Corporation, Case No.
16-10223.

The RCS and Cetera 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.

Cetera Advisor Networks Insurance Services, LLC, estimated under
$50,000 in assets and $500 million to $1 billion in debts.  The
Cetera Debtors' petitions were signed by Carol Flaton, chief
restructuring officer.


RCS CAPITAL: Employs Ridgeway as Board Member Search Advisors
-------------------------------------------------------------
RCS Capital Corporation, et al., seek authority from the U.S.
Bankruptcy Court for the District of Delaware to (i) employ and
Ridgeway Partners LLC as board member search advisors to the
Debtors, nunc pro tunc to March 4, 2016, on the terms and
conditions set forth in that certain engagement agreement by and
between Ridgeway and RCS Capital dated March 4, 2016, and (ii)
waive certain time-keeping requirements of Local Rule 2016-2(d) in
connection therewith.

Pursuant to the Engagement Letter, and subject to Court approval,
Ridgeway will provide services as the Debtors' deem necessary and
appropriate in the course of these Chapter 11 cases, including:

   (a) Assisting the Debtors in identifying and recruiting
       candidates for the New Board; and

   (b) As requested, providing the Debtors with confidential
       assessments and career histories for each candidate and
       endeavor to assist in obtaining professional references if
       required.

The Debtors have agreed to pay Ridgeway under the fee and expense
structure set forth in the Engagement Letter, which is as follows:

   -- Ridgeway will be entitled to a $100,000 base consulting
      fee;

   -- Ridgeway will be entitled to additional payments if
      candidates it introduces are placed as New Directors, as
      follows:

      * $0 for the first placement of a candidate introduced by
        Ridgeway;

      * $100,000 for the second placement of a candidate
        introduced by Ridgeway;

      * $100,000 for the third placement of a candidate
        introduced by Ridgeway; and

      * $75,000 for any additional placement of a candidate
        introduced by Ridgeway.

   -- If candidates are introduced by the First Lien Lenders and
      Second Lien Lenders, as defined in that certain
      Restructuring Support Agreement, dated as of January 29,
      2016, and as may be amended, prior to the launch of
      Ridgeway's search, Ridgeway will be entitled to payments as
      follows:

      * $50,000 for the first placement of a candidate introduced
        into the process by the First Lien Lenders and Second
        Lien Lenders prior to the launch of Ridgeway's search;
        and

      * $25,000 for any additional placement of a candidate
        introduced by the First Lien Lenders and Second Lien
        Lenders prior to the launch of Ridgeway's search; and

   -- Ridgeway will also be entitled to reimbursement of
      documented, necessary, and reasonable third-party out-of-
      pocket recruiting expenses, provided that any such expenses
      in excess of $10,000 in a single transaction or series of
      related transactions will require RCS Capital's prior
      written consent.

Charles F. Preusse, a Partner of Ridgeway, assures the Court that
Ridgeway is a "disinterested person" as that term is defined in
Section 101(14) of the Bankruptcy Code.

The Court will commence a hearing on April 11, 2016, at 10:30 a.m.
(ET), to consider the application.  Objections are due on April 4.

                        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 RCS Debtors' 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.  RCS Capital Corp. disclosed total assets of
$1,403,924,232 and total liabilities of $912,449,960.

RCS Capital's affiliates led by Cetera Advisor Networks Insurance
Services, LLC and Cetera Financial Group, Inc. filed separate
Chapter 11 petitions (Bankr. D. Del. Case Nos. 16-10730 to
16-10748) on March 26, 2016.  The cases are jointly administered
under the Chapter 11 case of RCS Capital Corporation, Case No.
16-10223.

The RCS and Cetera 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.

Cetera Advisor Networks Insurance Services, LLC, estimated under
$50,000 in assets and $500 million to $1 billion in debts.  The
Cetera Debtors' petitions were signed by Carol Flaton, chief
restructuring officer.


REDEEMED CHRISTIAN: Voluntary Chapter 11 Case Summary
-----------------------------------------------------
On April 6, 2016, RCCG Eagle Believers Chapel filed an amended
voluntary Chapter 11 petition to reflect the correct name of the
Debtor.

Debtor: The Redeemed Christian Church of God Eagle
        Believers Chapel
           DBA RCCG Eagle Believers Chapel
        1569 W. Main Street
        Lewisville, TX 75067

Case No.: 16-40620

Chapter 11 Petition Date: April 4, 2016

Court: United States Bankruptcy Court
       Eastern District of Texas (Sherman)

Judge: Hon. Brenda T. Rhoades

Debtor's Counsel: Eric A. Liepins, Esq.
                  ERIC A. LIEPINS P.C.
                  12770 Coit Road, Suite 1100
                  Dallas, TX 75251
                  Tel: (972) 991-5591
                  E-mail: eric@ealpc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Nosa Evbuomwan, authorized
representative.

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

          http://bankrupt.com/misc/txeb16-40620.pdf


RESIDENTIAL CAPITAL: Objection to Claim No. 1083 Sustained
----------------------------------------------------------
ResCap Borrower Trust objected to Claim Number 1083 filed by Maria
M. Thompson and Elda M. Thompson against Debtor GMAC Mortgage, LLC,
asserting a secured claim in the amount of $158,336.03 and a
general unsecured claim in the amount of $500,000.

The Claim raises numerous allegations based on two primary
arguments: (i) a breach of contract based on improper servicing
conduct and wrongful initiation of foreclosure proceedings, and
(ii) violations of certain New Jersey statutes relating to mortgage
loans. On July 1, 2015, the Court issued the Memorandum Opinion and
Order Sustaining in Part and Overruling in Part the Rescap Borrower
Claims Trust's Seventy-Sixth Omnibus Objection to Claims (No
Liability Borrower Claims) as to Claim Number 1083 Filed by Maria
M. and Elda Thompson (the "Prior Opinion,"). In the Prior Opinion,
the Court sustained the Objection as to all but one of the
Thompsons' arguments.

The sole issue remaining before the Court is whether Debtor GMACM
improperly charged the Thompsons interest on the Loan.

In a Memorandum Opinion and Order dated March 10, 2016, which is
available at http://is.gd/dAbp0Jfrom Leagle.com, Judge Martin
Glenn of the United States Bankruptcy Court for the Southern
District of New York sustained the ResCap Borrower Claims Trust's
Objection to Claim No. 1083 and the Claim is disallowed and
expunged.

The case is In re: RESIDENTIAL CAPITAL, LLC, et al., Chapter 11,
Debtors, Case No. 12-12020 (MG) (Jointly Administered)(Bankr.
S.D.N.Y.).

Residential Capital, LLC is represented by:

          Donald H. Cram, Esq.
          SEVERSON & WERSON, PC
          One Embarcadero Center Suite 2600
          San Francisco, CA 94111
          Tel: (415) 398-3344
          Fax: (415) 956-0439
          Email: dhc@severson.com

            -- and --

          Stefan W. Engelhardt, Esq.
          Todd M. Goren, Esq.
          Joel C Haims, Esq.
          Gary S. Lee, Esq.
          Lorenzo Marinuzzi, Esq.
          Larren M. Nashelsky, Esq.
          Anthony Princi, Esq.
          Norman Scott Rosenbaum, Esq.
          Kayvan B. Sadeghi, Esq.
          MORRISON & FOERSTER LLP
          250 West 55th Street
          New York, NY 10019-9601
          Tel: (212) 468-8000
          Fax: (212) 468-7900
          Email: tgoren@mofo.com
                 jhaims@mofo.com
                 glee@mofo.com
                 lmarinuzzi@mofo.com
                 lnashelsky@mofo.com
                 nrosenbaum@mofo.com
                 ksadeghi@mofo.com

            -- and --

          Steven J. Reisman, Esq.
          CURTIS, MALLET-PREVOST, COLT & MOSLE LLP
          101 Park Avenue
          New York, NY 10178-0061
          Tel: (212) 696-6000
          Fax: (212) 697-1559
          Email: sreisman@curtis.com

            -- and --

          John W Smith T, Esq.
          BRADLEY ARANT BOULT CUMMINGS LLP
          One Federal Place
          1819 Fifth Avenue North
          Birmingham, AL 35203
          Tel: (205) 521-8000
          Fax: (205) 521-8800
          Email: jsmitht@babc.com

Official Committee of Unsecured Creditors is represented by:

          Kenneth H. Eckstein, Esq.
          Douglas Mannal, Esq.
          Steven S. Sparling, Esq.
          KRAMER LEVIN NAFTALIS & FRANKEL LLP
          1177 Avenue of the Americas
          New York, NY 10036
          Tel: (212) 715-9100
          Fax: (212) 715-8000
          Email: keckstein@kramerlevin.com
                 dmannal@kramerlevin.com
                 ssparling@kramerlevin.com

            -- and --

          Robert J. Feinstein, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          780 Third Avenue 34th Floor
          New York, NY 10017-2024
          Tel: (212) 561-7700
          Fax: (212) 561-7777
          Email: rfeinstein@pszjlaw.com

            -- and --

          Ronald J. Friedman, Esq.
          Robert D. Nosek, Esq.
          SILVERMAN ACAMPORA LLP
          100 Jericho Quadrangle, Suite 300
          Jericho, NY 11753
          Tel: (516) 479-6300
          Fax: (516) 479-6301
          Email: rfriedman@silvermanacampora.com

Official Committee of Unsecured Creditors of Residential Capital,
LLC, et al. is represented by:

          Stephen Zide, Esq.
          KRAMER LEVIN NAFTALIS & FRANKEL LLP
          1177 Avenue of the Americas
          New York, NY 10036
          Tel: (212) 715-9100
          Fax: (212) 715-8000
          Email: szide@kramerlevin.com

                  About Residential Capital

Residential Capital LLC, the unprofitable mortgage subsidiary of
Ally Financial Inc., filed for bankruptcy protection (Bankr.
S.D.N.Y. Lead Case No. 12-12020) on May 14, 2012. Neither Ally
Financial nor Ally Bank is included in the bankruptcy filings.

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

ResCap disclosed $15.7 billion in assets and $15.3 billion in
liabilities at March 31, 2012.

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

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

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

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


SABRE INDUSTRIES: S&P Lowers CCR to 'B-', Outlook Stable
--------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Alvarado, Texas-based Sabre Industries Inc. to
'B-' from 'B'.  The outlook is stable.

At the same time, S&P lowered its issue-level ratings on the
company's $320 million senior secured credit facilities to 'B' from
'B+'.  The recovery rating remains '2', indicating S&P's
expectation of substantial (70% to 90%; at the lower end of the
range) recovery in the event of a payment default.

"The stable outlook reflects our view that overall demand from key
transmission and distribution and wireless communications customers
will remain generally favorable over the next several years," said
Standard & Poor's credit analyst Michael Maggi.  "We also expect
Sabre to continue to benefit from additional operational and
cost-related synergies following its acquisition of FWT, larger
market share, and a reduced dependence on the more competitive bid
market (in favor of its alliance business) as a result of the
transaction.  The stable outlook is also predicated upon our
expectations that Sabre will maintain adequate liquidity over the
next 12 months, with adjusted debt to EBITDA between 9x and 10x and
EBITDA interest coverage about 1.25x over the same time period."

S&P could lower its ratings on Sabre in the next year if the
company's liquidity deteriorated such that S&P viewed a covenant
breach under its senior secured facilities to be likely.  This
could occur if cash balances fell below $15 million and/or there
were increased borrowings under Sabre's revolving credit facility,
which is subject to a springing consolidated secured net leverage
covenant.  S&P could also take a negative rating action if Sabre's
adjusted EBITDA interest coverage fell notably below 1x and
adjusted debt to EBITDA continued to move above 12x on a sustained
basis.

While S&P considers an upgrade unlikely in the next 12 months, it
could raise the company's rating if S&P was to take a more positive
view of its business risk over the longer term, supported by the
company continuing to meaningfully expand and diversify its
customer base while improving its margins.  Separately, S&P could
also take a positive rating action if Sabre's credit measures
improved such that adjusted debt to EBITDA was sustained below 8x
while maintaining adequate liquidity.



SAINT MICHAEL: Bid to Reopen Bankruptcy Case Denied
---------------------------------------------------
Judge George W. Emerson, Jr., of the United States Bankruptcy Court
for the Western District of Tennessee, Eastern Division, denied the
debtor/corporation's motion to reopen the case captioned In re:
SAINT MICHAEL MOTOR EXPRESS, Chapter 7, Debtor, Case No. 08-11838-E
(Bankr. W.D. Tenn.).

Saint Michael Motor Express' motion to reopen Adversary Proceeding
No. 13-05148 was also denied.

Saint Michael sought to reopen its no-asset Chapter 7 case for the
sole purpose of filing a motion for relief from the court's
Memorandum Opinion and Order, entered in Adversary Proceeding No.
13-05148, on August 21, 2015, which dismissed in its entirety the
adversary proceeding filed by the Chapter 7 trustee against various
defendants.

Judge Emerson found that Saint Michael lacks standing to bring the
motion for relief from judgment because it is only the trustee who
has the authority to bring the Rule 60 motion.  The judge further
stated that, even if Saint Michael had standing, it offered no
reason for its failure to timely appeal the court's memorandum
opinion.

A full-text copy of Judge Emerson's March 9, 2016  order is
available at http://is.gd/cbO8OPfrom Leagle.com.

Saint Michael Motor Express is represented by:

          Mark R. Beebe, Esq.
          ADAMS AND REESE, LLP
          One Shell Square
          701 Poydras Street, Suite 4500
          New Orleans, LA 70130
          Tel: (504)581-3234
          Fax: (504)566-0210
          Email: mark.beebe@arlaw.com

            -- and --

          John L. Ryder, Esq.
          HARRIS SHELTON HANOVER WALSH, PLLC
          40 South Main Street #2700
          Memphis, TN 38103
          Tel: (901) 525-1455
          Email: jryder@harrisshelton.com

            -- and --

          Henry C. Shelton, III, Esq.
          ADAMS AND REESE, LLP
          Crescent Center
          6075 Poplar Avenue, Suite 700
          Memphis, TN 38119
          Tel: (901)524-5271
          Fax: (901)524-5419
          Email: hank.shelton@arlaw.com

U.S. Trustee, U.S. Trustee, is represented by:

          Madalyn Scott Greenwood, Esq.
          UNITED TRUSTEE'S OFFICE
          200 Jefferson Avenue, Suite 400
          Memphis, TN 38103
          Tel: (901)544-3251
          Fax: (901)544-4138

                    About Saint Michael

Jackson, Tennessee-based Saint Michael Motor Express provides
refrigerated trucking services through its 100 employees.  It
currently owns about 89 trucks with 140 refrigerated trailers,
both van and flat-bed.  All of the Debtor's shares is owned by
Louis P. Saia.  It filed its chapter 11 petition on May 22, 2008
(Bankr. W.D. Tenn. Case No. 08-11838).  Henry C. Shelton, Esq., at
Adams and Reese LLP, represents the Debtor in its restructuring
efforts.  The Debtor listed $11,211,255 in assets and $12,407,911
in liabilities when it filed for bankruptcy.


SAINT MICHAEL: Court Says Sole Shareholder Lacks Standing to Sue
----------------------------------------------------------------
Judge S. Thomas Anderson of the United States District Court for
the Western District of Tennessee, Eastern Division, granted the
motions filed by the defendants in the case captioned LOUIS SAIA,
Plaintiff, v. FLYING J, INC., FJ MANAGEMENT, INC. d/b/a FLYING J,
INC.; FLYING J. INSURANCE SERVICES, INC. and/or its Successor, THE
BUCKNER COMPANY; TRANSPORTATION ALLIANCE BANK, INC.; TRANSPORTATION
ALLIANCE LEASING, LLC; TAB BANK, INC.; TAB BANK, INC. d/b/a/
TRANSPORTATION ALLIANCE LEASING, LLC; JAGIT "J.J." SINGH, STEPHEN
PARKER, JOHN DOES A, B, and C AND JANE DOES A, B, and C Defendants,
No. 15-cv-01045-STA-egb (W.D. Tenn.).

Louis Saia is the sole shareholder, president and CEO of Saint
Michael Motor Express, a Tennessee corporation, and had made
significant capital contributions to Saint Michael and certain
personal guaranties for the corporation's debts, including an
$800,000 line of credit guaranteed by Saia and his mother.

On March 2, 2015, Saia filed suit alleging that the defendants
engaged in a pattern of fraud and tortious conduct to take control
of St. Michael's assets, including by implication Saia's capital
contributions to the corporation, and to collect debts incurred by
Saint Michael from Saia in his capacity as personal guarantor for
Saint Michael's liabilities.

The defendants moved to dismiss, contesting Saia's standing to
bring claims that properly belong to his company, Saint Michael.

Judge Anderson agreed with the defendants and held that Saia lacks
standing to pursue his claims for relief to redress injuries to his
corporation.  Judge Anderson explained that a plaintiff, even a
sole shareholder, cannot maintain in his own name "an action to
redress injuries to a corporation," and that likewise, a personal
guarantor of a corporation's liabilities and obligations lacks
standing to seek redress for injuries to the corporation.

Judge Anderson also held that the complaint failed to allege facts
showing that Saia has standing to pursue a RICO claim against the
defendants, because the complaint's RICO allegations only show that
the defendants' purported wrongdoings were directed at St. Michael,
not to Saia personally.

A full-text copy of Judge Anderson's March 28, 2016 order is
available at http://is.gd/ai7Dfpfrom Leagle.com.

Flying J, Inc., FJ Management, Inc., Flying J Insurance Services,
Inc., The Buckner Company, are represented by:

          John S. Golwen, Esq.
          Jonathan Edward Nelson, Esq.
          BASS BERRY & SIMS PLC
          The Tower at Peabody Place
          100 Peabody Place Suite 900
          Memphis, TN 38103
          Tel: (901)543-5900
          Fax: (901)543-5999
          Email: jgolwen@bassberry.com
                 jenelson@bassberry.com

            -- and --

          David J. Harris, Esq.
          BURCH PORTER & JOHNSON
          130 North Court Avenue
          Memphis, TN 38103
          Tel: (901)524-5000
          Fax: (901)524-5024
          Email: dharris@bpjlaw.com

Transportation Alliance Bank, Inc., Transportation Alliance
Leasing, LLC, Stephen Parker are represented by:

          David J. Harris, Esq.
          BURCH PORTER & JOHNSON
          130 North Court Avenue
          Memphis, TN 38103
          Tel: (901)524-5000
          Fax: (901)524-5024
          Email: dharris@bpjlaw.com

            -- and --

          Douglas P. Farr, Esq.
          Michael A. Gehret, Esq.
          SNELL & WILMER L.L.P.
          Gateway Tower West
          15 West South Temple, Suite 1200
          Salt Lake City, UT 84101-1547
          Tel: (801)257-1900
          Fax: (801)257-1800
          Email: dfarr@swlaw.com
                 mgehret@swlaw.com

Jagjit JJ Singh, Defendant, represented by:

          Alan C. Bradshaw, Esq.
          MANNING CURTIS BRADSHAW & BEDNAR
          136 East South Temple, Suite 1300
          Salt Lake City, UT 84111
          Tel: (801)363-5678
          Fax: (801)364-5678
          Email: abradshaw@mc2b.com

            -- and --

          Amber D. Floyd, Esq.
          Douglas M. Alrutz, Esq.
          WYATT TARRANT & COMBS, LLP
          Email: afloyd@wyattfirm.com
                 dalrutz@wyattfirm.com

            -- and --

          David J. Harris, Esq.
          BURCH PORTER & JOHNSON
          130 North Court Avenue
          Memphis, TN 38103
          Tel: (901)524-5000
          Fax: (901)524-5024
          Email: dharris@bpjlaw.com

            -- and --

          James E. Ji, Esq.
          MANNING CURTIS BRADSHAW & BEDNAR
          136 East South Temple, Suite 1300
          Salt Lake City, UT 84111
          Tel: (801)363-5678
          Fax: (801)364-5678
          Email: jji@mc2b.com

                    About Saint Michael

Jackson, Tennessee-based Saint Michael Motor Express provides
refrigerated trucking services through its 100 employees.  It
currently owns about 89 trucks with 140 refrigerated trailers,
both van and flat-bed.  All of the Debtor's shares is owned by
Louis P. Saia.  It filed its chapter 11 petition on May 22, 2008
(Bankr. W.D. Tenn. Case No. 08-11838).  Henry C. Shelton, Esq., at
Adams and Reese LLP, represents the Debtor in its restructuring
efforts.  The Debtor listed $11,211,255 in assets and $12,407,911
in liabilities when it filed for bankruptcy.


SANJEL CANADA: Chapter 15 Case Summary
--------------------------------------
Chapter 15 Petitioner: PricewaterhouseCoopers Inc.
                       Canadian Monitor and Foreign Representative

Chapter 15 Debtor: Sanjel Canada Ltd.
                   111 5 Ave. SW #3100
                   Calgary, AB T2P 5L3
                   Canada

Chapter 15 Case No.: 16-50872

Type of Business: Oil and gas services company

Chapter 15 Petition Date: April 11, 2016

Court: United States Bankruptcy Court
       Western District of Texas (San Antonio)

Judge: Hon. Craig A. Gargotta

Chapter 15 Petitioner's Counsel: Patrick L. Huffstickler, Esq.
                                 Deborah D. Williamson, Esq.
                                 Patrick B. McMillin, Esq.
                                 DYKEMA COX SMITH
                                 112 E. Pecan St., Ste. 1800
                                 San Antonio, TX 78205
                                 Tel: (210) 554-5500
                                 Fax: (210) 226-8395
                                 E-mail: phuffstickler@dykema.com
                                        dwilliamson@dykema.com
                                        pmcmillin@dykema.com

Estimated Assets: Not Indicated

Estimated Debts: Not Indicated


SANJEL CANADA: Files Chapter 15 Petition in Texas
-------------------------------------------------
Sanjel Canada Ltd. sought creditor protection by commencing a case
under Chapter 15 of the Bankruptcy Code in the U.S. Bankruptcy
Court for the Western District of Texas.  The Chapter 15 Debtor is
seeking recognition in the United States of a proceeding currently
pending in the Court of Queen's Bench of Alberta, Judicial Centre
of Calgary under the Companies' Creditors Arrangement Act.

Sanjel Canada is part of a group of Canadian-based companies who
have filed for restructuring under the CCAA in Canada, namely:
Sanjel (USA) Inc., Sanjel Corporation, Suretech Group Ltd., Sanjel
Energy Services (USA) Inc., Suretech Completions (USA) Inc., Sanjel
Capital (USA) Inc., Terracor Group Ltd., Terracor (USA) Inc.,
Terracor Resources (USA) Inc. and Terracor Logistics (USA) Inc.
(the "Prior Chapter 15 Debtors").

PricewaterhouseCoopers Inc., as the Monitor and the court-appointed
foreign representative for Sanjel Canada, said the ongoing sale
process initiated by the Sanjel entities which filed for Chapter 15
protection on April 4, 2016, has necessitated the filing of this
additional Chapter 15 case.  

The Monitor also filed an ex parte application for temporary
restraining order to, among other things, stay execution against
the Debtor's assets in the United States.  The Provisional Relief
requested is similar to the Stay Period relief already ordered by
the Canadian Court, except that it will specifically protect Sanjel
Canada Ltd. and its assets in the United States.

The Initial Order in the Canadian Proceedings provides for a Stay
Period whereby no proceeding or enforcement process in any court
shall be commenced or continued against or in respect of Sanjel
Canada Ltd. or the Monitor, or affecting Sanjel Canada Ltd.'s
business or property, except with leave of the Canadian Court, and
any and all Proceedings currently under way against or in respect
of Sanjel Canada Ltd., or affecting the business or property are
stayed and suspended pending further order of the Canadian Court.

The Monitor, Sanjel Canada Ltd., and the Prior Chapter 15 Debtors
are concerned that if immediate relief staying execution of assets
and litigation is not ordered by the Bankruptcy Court, the Trustee
and the Syndicate (and possibly other creditors in the United
States) will take action that will be detrimental to them, and the
body of creditors and other stakeholders as a whole.

On or about April 3, 2016, the Prior Chapter 15 Debtors entered
into two Asset Purchase Agreements for the sale of substantially
all of the assets comprising the Sanjel Group's Canadian and U.S.
businesses:

  (a) An APA with Step Energy Services Ltd. for the sale of
      substantially all of the assets comprising the Sanjel
      Group's Canadian business; and

  (b) An APA with Liberty Oilfield Services Holdings LLC for the
      sale of substantially all of the assets comprising the
      Sanjel Group's U.S. business (excluding the Suretech and
      Terracor businesses).

                      About Sanjel (USA)

Headquartered in Calgary, Alberta, Sanjel Corp, through its
subsidiaries comprising the Sanjel Group, is an independent oil and
gas services company.  The Sanjel Group's pressure pumping
operations provide fracturing, cementing, coiled tubing and
reservoir solutions services in Canada, the U.S. and Saudi Arabia
(via its joint venture).  Through the Suretech entities, the Sanjel
Group offers patented multistage completions system solutions for
unconventional reservoir development with operations in the USA,
Canada and the other international locations.

Sanjel Corporation and nine of its subsidiaries sought creditor
protection in the United States by filing cases under Chapter 15 of
the Bankruptcy Code on April 4, 2016.
     
As of Jan. 31, 2016, Sanjel Group had consolidated assets of
approximately C$1,438,788,000 and consolidated liabilities of
approximately C$1,104,602,000.  The majority of the current
liabilities include accounts payable (approximately C$134,646,000),
indebtedness under the Facility, indebtedness to the Senior Bonds
(the amount outstanding under the Facility and the Senior Bonds
were together, approximately C$890,638,000 plus interest payable of
C$18,659,000) and future tax liability (approximately
C$51,219,000), as disclosed in Court documents.

As of the Petition Date, the Chapter 15 Debtors had more than
$500,000,000 in assets in the United States (at book value), with
more than 50% of those assets located in Texas.

On April 5, 2015, the Bankruptcy Court granted the Monitor's motion
to jointly administer the cases of the Prior Chapter 15 Debtors.
The cases of the Prior Chapter 15 Debtors are being jointly
administered under Case No. 16-50778.

                     About Sanjel Canada

Sanjel Canada Ltd. filed a Chapter 15 bankruptcy petition (Bankr.
W.D. Tex. Case No. 16-50872) on April 11, 2016.  The petition was
signed by PricewaterhouseCoopers Inc., as the Monitor and the
court-appointed foreign representative.  Dykema Cox Smith
represents the Monitor as counsel.

The Chapter 15 cases are pending before Judge Craig A. Gargotta in
the U.S. Bankruptcy Court for the Western District of Texas.


SANJEL CANADA: Seeks Joint Administration With Prior Debtors
------------------------------------------------------------
PricewaterhouseCoopers Inc., in its capacity as the court
appointed and authorized foreign representative of Sanjel Canada
Ltd., asked the U.S. Bankruptcy Court to enter an order granting
joint administration of Sanjel Canada's case with the cases of
Sanjel Corporation, Suretech Group Ltd., Sanjel Energy Services
(USA) Inc., Sanjel (USA) Inc., Suretech Completions (USA) Inc.,
Sanjel Capital (USA) Inc., Terracor Group Ltd., Terracor (USA)
Inc., Terracor Resources (USA) Inc. and Terracor Logistics (USA)
Inc. (collectively, the "Prior Chapter 15 Debtors").

On April 4, 2016, the Monitor filed Chapter 15 petitions on behalf
of the Prior Chapter 15 Debtors.  On April 5, the Bankruptcy Court
granted the Monitor's motions to jointly administer the cases of
the Prior Chapter 15 Debtors under Case No. 16-50778.

Deborah D. Williamson, Esq., at Dykema Cox Smith, counsel for the
Monitor, said joint administration will:

   (a) benefit the resolution of the Chapter 15 cases, preserve
       estate assets and will avoid considerable and
       unnecessary expense and loss of time by obviating the   
       necessity for filing duplicate motions, requesting
       duplicate orders, and forwarding duplicate notices that
       affect Sanjel Canada Ltd. and one or all of the Prior    
       Chapter 15 Debtors, their creditors, and parties-in-
       interest;

   (b) ensure that parties affected by each of the Chapter 15
       cases will be apprised of the various matters that will be
       heard by the Court in the Chapter 15 cases;

   (c) permit the Clerk of the Court to use a single docket for
       the cases and to combine notices to creditors and other
       parties-in-interest; and

   (d) relieve the Clerk of the Court of the burden of entering
       duplicative orders and maintaining duplicative files.

According to Ms. Williamson, the rights of Sanjel Canada Ltd.'s and
the Prior Chapter 15 Debtors' respective creditors, stakeholders,
and any other parties-in-interest will not be adversely affected by
joint administration of the Cases because the relief requested in
this Motion is purely administrative
and in no way affects any party's substantive rights.

                       About Sanjel Canada

Sanjel Canada Ltd. filed a Chapter 15 bankruptcy petition (Bankr.
W.D. Tex. Case No. 16-50872) on April 11, 2016.  The petition was
signed by PricewaterhouseCoopers Inc., in its capacity as the court
appointed and authorized foreign representative.  Dykema Cox Smith
represents the Monitor as counsel.  The case is pending before
Judge Craig A. Gargotta.

Sanjel Canada is part of a group of Canadian-based companies
who have filed for restructuring under the Companies' Creditors
Arrangement Act in Canada.  The case is pending before Judge Craig
A. Gargotta.


SHASTA ENTERPRISES: Court Reaffirms Felderstein as Trustee Counsel
------------------------------------------------------------------
At the behest of Hank M. Spacone, the Chapter 11 Trustee of Shasta
Enterprises, the U.S. Bankruptcy Court for the Eastern District of
California reaffirmed the employment of Felderstein Fitzgerald
Willoughby & Pascuzzi LLP as the Trustee's bankruptcy counsel, nunc
pro tunc to October 31, 2014.

The Bankruptcy Court first approved the firm's engagement as the
Chapter 11 Trustee's counsel on January 5, 2015.

Since the Employment Order was entered another connection has
arisen.  Felderstein is in the process of hiring a new legal
secretary, Anastasia Hoang. Prior to her employment with
Felderstein, Ms. Hoang has been employed as a legal secretary in
the law office of Meegan, Hanschu & Kassenbrock since 2007.

The Meegan firm represents Antonio Rodriquez and Lorraine
Rodriguez, husband and wife, who are owners of the Debtor and
creditors in this case (the "MHK Clients").

Felderstein has agreed to create an ethical wall prohibiting Ms.
Hoang from working on any aspects of Felderstein's representation
of the Trustee in this case and from discussing with the lawyers or
other personnel at Felderstein any respect of the matter that may
disclose confidential information that she may have had access to
during her employment with the Meegan Firm.

The Meegan Firm has consulted with the MHK Clients and has
confirmed to Felderstein that the MHK Clients consent to
Felderstein's continued representation of the Trustee in this case
provided that the ethical wall is implemented and maintained.

Felderstein has also confirmed with the Trustee that the Trustee
consents to Fitzgerald's employment of Ms. Hoang.

Donald W. Fitzgerald, attorney of Felderstein Fitzgerald Willoughby
& Pascuzzi LLP 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.

Felderstein can be reached at:

     Donald W. Fitzgerald, Esq.
     FELDERSTEIN FITZGERALD WILLOUGHBY & PASCUZZI LLP
     400 Capitol Mall, Suite 1750
     Sacramento, CA 95814
     Tel: (916) 329-7400
     Fax: (916) 329-7435
     E-mail: dfitzgerald@ffwplaw.com

                    About Shasta Enterprises

Redding, California-based Shasta Enterprises, dba Vidal Vineyards,
dba Silverado Knolls, dba Villa Vidal Vineyards, sought bankruptcy
protection (Bankr. E.D. Cal. Case No. 14-30833) on Oct. 31, 2014.
The petition was signed by Antonio Rodriguez, general partner.

Judge Michael S. McManus presides over the case. The Debtor's
counsel is David M. Brady, Esq., at Law Office of Cowan & Brady, in
Redding, California.

The Debtor disclosed total assets of $33.4 million and total debt
of $21.5 million.

The Court, on Dec. 29, 2014, approved the appointment of Hank
Spacone as the Chapter 11 trustee of the Debtor's estate.


SIDEWINDER DRILLING: Moody's Lowers CFR to Ca, Outlook Negative
---------------------------------------------------------------
Moody's Investors Service downgraded Sidewinder Drilling Inc.'s
Corporate Family Rating to Ca from Caa3, Probability of Default
Rating (PDR) to Ca-PD/LD from Caa3-PD, and senior unsecured notes
to C from Ca.  The rating outlook remains negative.

This action follows the company's Feb. 12, 2016, Exchange Agreement
with certain holders of Sidewinder's Unsecured Notes whereby the
Exchanging Note Holders (i) exchanged $132,659,000 of their $250
million Unsecured Notes for $109,443,675 principal amount of new
9.75% third lien notes and (ii) made a loan to Sidewinder of
$45,000,000 in exchange for which Sidewinder issued to the
Exchanging Note Holders new 12.00% second lien notes (the "New
Second Lien Notes") in the principal amount of $46,875,000, in
accordance with the terms of the Second Lien Note Purchase
Agreement.  Affiliates of Avista contributed $5,000,000 of cash in
return for approximately $5,208,333 of New Second Lien Notes
bringing the aggregate total of such notes to approximately
$52,083,333.

"Sidewinder's ratings downgrades are driven by the Notes Exchange
which we consider a default.  Despite the exchange, the new capital
structure and the cashflow outlook still point towards an
unsustainable capital structure," said Sreedhar Kona, Moody's
Senior Analyst.  "The negative outlook reflects Sidewinder's
heightened risk of pursuing another balance sheet restructuring or
purchase of its unsecured notes at a steep discount."

These actions were taken:

Issuer: Sidewinder Drilling Inc.

  Probability of Default Rating, Downgraded to Ca-PD /LD from
   Caa3-PD

  Corporate Family Rating, Downgraded to Ca from Caa3

  Senior Unsecured Regular Bond/Debenture (Local Currency)
   Nov. 15, 2019, Downgraded to C (LGD5) from Ca (LGD4)

  Speculative Grade Liquidity Rating, Withdrawn, previously rated
   SGL-4

Outlook Actions:

  Outlook, Remains Negative

                          RATINGS RATIONALE

Moody's considers Sidewinder's exchange of unsecured notes as a
distressed exchange, which Moody's considers a default.  As noted
above, Moody's appended the Ca-PD PDR with a "/LD" designation
indicating limited default.  The "/LD" designation will be removed
three business days hereafter.

The downgrade of Sidewinder's CFR to Ca from Caa3 is primarily
driven by the expected decline in 2016 EBITDA even as compared to
extremely weak 2015 EBITDA.  In addition, the exchange transaction
has slightly increased Sidewinder's overall debt burden resulting
in much weaker projected leverage metrics that are unsustainable.
Although the proceeds from the second lien debt provide some
liquidity relief to Sidewinder, the cashflow outlook for 2016 and
beyond, result in a negative outlook for overall recovery prospects
of Sidewinder's debt.

The C rating on the now-remaining $117 million 9.75% senior
unsecured notes due 2019 reflects their effectively subordinate
position in the capital structure relative to the potential senior
secured claims, which results in the notes being rated one notch
below the Ca CFR.  The company also has a $40 million senior
secured revolving credit facility (unrated) that has a first-lien
claim to substantially all of Sidewinder's assets, approximately
$52 million of 2nd lien notes (unrated) and approximately $109
million of 3rd lien notes (unrated).

Moody's expects Sidewinder will have weak liquidity at least
through mid-2017.  As of Dec. 31, 2015, the company had $4.6
million of cash on the balance sheet.  Subsequent to the February
2016 Exchange Agreement, the company had virtually no availability
under its senior secured revolving credit facility and an
additional $50 million in gross cash proceeds from the New Second
Lien Notes issuance.  The total interest expense for 2016 is
expected to be approximately $30 million, however $5 million of
that amount can be paid in kind on the New Third Lien Notes.
Capital spend per company's guidance is expected to be in the range
of $1.5 -- 2.5 million for 2016.  Based on Moody's projection of
less than $10 million of EBITDA through 2016, the company would
deplete a significant portion of the $50 million New Second Lien
Note proceeds to satisfy its liquidity needs. Beginning in the
fourth quarter of 2017, the company would have to maintain a fixed
charge coverage ratio of 1.1x (as defined in the credit agreement).
The credit facility has a first-lien on substantially all of
Sidewinder's assets; any asset sales are likely to repay revolver
borrowings and therefore would not be a source of cash.

The negative outlook reflects Sidewinder's heightened risk of
pursuing another balance sheet restructuring or purchase of its
unsecured notes at a steep discount.

A downgrade could occur if the company is likely to file for
bankruptcy protection or undertakes a subsequent debt
restructuring.

A rating upgrade is not expected through 2016 due to the company's
weak cash flow outlook.  An upgrade will be considered if the
company improves its debt to EBITDA ratio to be sustainable below
8x, combined with adequate liquidity.

Sidewinder is a privately-owned, North American onshore drilling
company focused on providing contract drilling services to
exploration & production companies targeting unconventional
resource development.

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


SIGA TECHNOLOGIES: New York Judge Confirms 3rd Amended Plan
-----------------------------------------------------------
Bankruptcy Judge Sean H. Lane issued Findings of Fact, Conclusions
of Law, and Order confirming the Third Amended Chapter 11 Plan of
SIGA Technologies, Inc.

The Third Amended Chapter 11 Plan was filed April 7, 2016.  As
reported by the Troubled Company Reporter, the Plan groups claims
against and equity interests in SIGA in four classes.  Class 1
Secured Claims and Class 2 Priority Non-Tax Claims are unimpaired.
Holders of general unsecured claims in Class 3 are impaired and
were entitled to vote on the Plan.  Class 4 Equity Interests are
out of the money and deemed to reject the Plan.

As reported by the Troubled Company Reporter, SIGA commenced the
chapter 11 case to preserve and to ensure its ability to satisfy
its commitments under a contract with the U.S. Biomedical Advanced
Research and Development Authority and to preserve its operations,
which likely would have been jeopardized by the enforcement of a
judgment stemming from the litigation with PharmAthene, Inc.

In 2014, the Delaware Court of Chancery issued its Remand Opinion
and related order in the litigation initiated against the Company
in 2006 by PharmAthene. In the Remand Opinion, the Court of
Chancery determined, among other things, that PharmAthene is
entitled to a lump sum damages award for its lost profits related
to Tecovirimat, with interest and fees, based on United States
government purchases of the Company's smallpox drug allegedly
anticipated as of December 2006.

On January 15, 2015, the Delaware Court of Chancery entered its
Final Order and Judgment awarding PharmAthene approximately $195
million, including pre-judgment interest up to January 15, 2015.
On January 16, 2015, the Company filed a notice of appeal of the
Outstanding Judgment with the Delaware Supreme Court and, on
January 30, 2015, PharmAthene filed a notice of cross appeal.  On
October 7, 2015, the Delaware Supreme Court heard oral argument, en
banc. On December 23, 2015 the Delaware Supreme Court affirmed the
Outstanding Judgment.

As of December 31, 2015, the accrued obligation under the Delaware
Court of Chancery Final Order and Judgment, including post-judgment
interest, is estimated to be $205 million. The Company's pending
chapter 11 case prevents PharmAthene from taking any enforcement
action with respect to the Outstanding Judgment. The Outstanding
Judgment is to be treated and satisfied under the Plan.

SIGA originally filed its Plan of Reorganization on December 15,
2015.  The Plan is supported by the official committee of unsecured
creditors appointed in the Company's chapter 11 case.

By the order dated February 16, 2016, the Bankruptcy Court approved
the Company's Disclosure Statement for the Plan.  The salient terms
of the Plan are:

     -- Prepetition unsecured claims (other than PharmAthene's
claim) will be paid in cash in full.

     -- Upon the effective date of the Plan, ownership of existing
shares of the Company's common stock shall remain unaltered by the
Plan; however, existing shares will be subject to potential future
cancellation (without receipt of any consideration) in the event
that PharmAthene's claim is satisfied through the issuance of newly
issued shares of SIGA stock -- option (ii).

     -- Once the Delaware Supreme Court enters final judgment on
the December 23 ruling (which was expected to occur on or about
March 22, 2016), the Company will have 120 days (subject to a
possible 90 day extension) to select one of the following options
to satisfy PharmAthene's claim under the Plan: (i) payment in full
in cash of the Company's obligation under the Delaware Court of
Chancery Final Order and Judgment, which is estimated to be
approximately $205 million as of December 31, 2015; (ii) delivery
to PharmAthene of 100% of newly-issued stock of SIGA, with all
existing shares of the Company's common stock being cancelled with
no distribution to existing shareholders on account thereof; or
(iii) such other treatment as is mutually agreed upon by the
Company and PharmAthene.

     -- The 120 day period can be extended for a maximum of 90
additional days in exchange for payment by the Company of $20
million to PharmAthene to be applied to payments to be made under
option (i) set forth above (if selected), and otherwise
nonrefundable.

     -- PharmAthene shall be paid $5 million on the effective date
of the Plan to be applied to payments to be made under option (i)
set forth above (if selected), and otherwise nonrefundable.

     -- the Plan requires the Company to comply with certain
affirmative and negative covenants from the date the Plan becomes
effective until the covenants are terminated as provided under the
Plan, and if the Company breaches any covenant, PharmAthene is
entitled to exercise certain remedies provided in the Plan.

The Plan was confirmed amid a challenge by current shareholders.

The Plan Order provides that, "All Objections have been resolved as
stated on the record at the Confirmation Hearing and, based on such
resolution, all Objections were withdrawn as confirmed by the
objecting parties on the record of the Confirmation Hearing."

A copy of the Court's Confirmation Order as well as the Third
Amended Plan is available at:

     http://bankrupt.com/misc/SIGATech3rdPlan.pdf

                          *     *     *

On March 15, 2016, the Debtor filed the Plan Supplement, which
includes, among other things, substantially final forms of the:

     (i) Amended and Restated By-Laws,
    (ii) Amended and Restated Certificate of Incorporation
   (iii) the Escrow Agreement,
    (iv) the Transition Plan,
     (v) the Arbitration Agreement,
    (vi) the confidentiality agreements contemplated under the
Plan,
   (vii) the Schedule of Assumed Contracts and Leases,
  (viii) the Schedule of Rejected Contracts and Leases, and
    (ix) to the extent known, with respect to members of the Board
of Directors, information required to be disclosed in accordance
with section 1129(a)(5) of the Bankruptcy Code.   

The initial Board of Directors shall consist of nine members and
shall be composed of:

     (a) Eric A. Rose, M.D., Chairman of the Board and Chief
Executive Officer,
     (b) James J. Antal,
     (c) Michael J. Bayer,
     (d) Thomas E. Constance,
     (e) Jeffrey B. Kindler,
     (f) Joseph W. Marshall, III
     (g) Paul G. Savas,
     (h) Bruce Slovin, and
     (i) Andrew L. Stern,

each of whom have served on the Debtor's Board of Directors since
the Commencement Date.  

The Plan Supplement also provides that the following persons would
serve on the Reorganized Debtor's Board of Directors in the event
of a reconstitution of the Reorganized Debtor's Board of Directors
pursuant to Section 6.6(d) of the Plan:

     (a) Eric A. Rose, M.D.
     (b) Jeffrey B. Kindler,
     (c) Joseph W. Marshall, III,
     (d) Paul G. Savas,
     (e) John M. Gill,
     (f) Eric I. Richman,
     (g) Jeffrey W. Runge, M.D.,
     (h) Mitchel Sayare, Ph.D, and
     (i) Derace L. Schaffer, M.D.  

PharmAthene retains the right thereafter to replace any of the
individuals nominated by PharmAthene to the Reorganized Debtor's
Board.

                      About SIGA Technologies

Publicly held SIGA Technologies, Inc., with headquarters in Madison
Avenue, New York, is a biotech/pharmaceutical company that
specializes in the development and commercialization of solutions
for serious unmet medical needs and biothreats.  SIGA's lead
product is Tecovirimat, also known as ST-246, an orally
administered antiviral drug that targets orthopoxviruses.

SIGA sought Chapter 11 bankruptcy protection (Bankr. S.D.N.Y. Case
No. 14-12623) on Sept. 16, 2014, in Manhattan.  The case is
assigned to Judge Sean H. Lane.

The Debtor has tapped Weil, Gotshal & Manges LLP, as counsel, and
Prime Clerk LLC as claims agent.

The Debtor's Chapter 11 plan and disclosure statement are due May
14, 2015.

The Debtor disclosed total assets of $131,669,746 and $7,954,645
in liabilities as of the Chapter 11 filing.

The Statutory Creditors' Committee is represented by Martin J.
Bienenstock, Esq., Scott K. Rutsky, Esq., and Ehud Barak, Esq., at
Proskauer Rose LLP.  The Committee tapped to retain Guggenheim
Securities, LLC, as its financial advisor and investment banker.


SKYPORT GLOBAL: 5th Cir. Affirms Sanctions vs. Schermerhorn Parties
-------------------------------------------------------------------
Skyport Global Communications, Inc., operated a satellite teleport
in Houston, Texas, and filed Chapter 11 bankruptcy in October 2008.
In August 2009, the bankruptcy court entered its order confirming
the reorganization plan, which provided, in part, for the merger of
Skyport with its sole shareholder, SkyComm Technologies
Corporation.  Once merged, all shares of stock owned by SkyComm's
shareholders were to be canceled, and all shares of the reorganized
debtor, Skyport, were to be reissued to the Balaton Group.  The
confirmation order enjoined derivative claims filed on behalf of
Skyport or SkyComm, but did not enjoin direct claims against third
parties.

The Schermerhorn parties -- minority SkyComm shareholders -- filed
a petition in state court against Skyport Global Communications,
Inc., et al., seeking $32 million in damages for various misdeeds
allegedly committed in connection with investments in and
management of Skyport, and its parent, SkyComm. The state court
lawsuit was removed to the bankruptcy court, which issued a
preliminary injunction as it reviewed the claims. The court then
issued several sanctions orders against the Schermerhorn parties
for their filing of the state court lawsuit, which the court found
was a collateral attack of the confirmation order, and for
violations of the injunction order. The court found that an
appropriate sanction would include attorney's fees and expenses
reasonably incurred by the Defendants. The Schermerhorn parties
appealed the sanctions orders to the district court, which
affirmed.

On appeal, the Schermerhorn parties challenge the sanctions
orders.

In a Decision dated March 14, 2016, which is available at
http://is.gd/s4N4Pyfrom Leagle.com, the United States Court of
Appeals for the Fifth Circuit affirmed the judgment of the district
court, which affirmed the bankruptcy court's order imposing
sanctions on the Schermerhorn parties.

The appeals case is JOANNE SCHERMERHORN; JOHN K. WAYMIRE; CHET
GUTOWSKY; JOHN LLEWELLYN; JOSEPH A. LOPEZ; et al., Appellants, v.
ROBERT KUBBERNUS; SKYPORT GLOBAL COMMUNICATIONS, INCORPORATED, now
known as Trustcomm, Incorporated; BALATON GROUP, INCORPORATED;
BANKTON FINANCIAL CORPORATION; BANKTON FINANCIAL CORPORATION,
L.L.C.; CENTURYTEL, INCORPORATED, also known as CenturyLink; R.
STEWART EWING; CLARENCE MARSHALL; MICHAEL E. MASLOWSKI; HARVEY P.
PERRY; WILSON VUKELICH, L.L.P., Appellees, No. 15-20246. Summary
Calendar (5th Cir.), relating to In the matter of: SKYPORT GLOBAL
COMMUNICATION, INCORPORATED, formerly known as Skyport
International, Incorporated, doing business as SkyPort
International PC, doing business as SkyComm International,
Incorporated, Debtor.

                     About SkyPort Global

Satellite and terrestrial communication service provider SkyPort
Global Communications, Inc. -- http://www.skyportglobal.com/--  
sought Chapter 11 protection (Bankr. S.D. Tex. Case No. 08-36737)
on Oct. 24, 2008.  Edward L. Rothberg, Esq., at Weycer Kaplan
Pulaski & Zuber, in Houston, represents the Debtor.  At the time
of the chapter 11 filing, the Debtor reported $8,736,791 in assets
and was unable to estimate its liabilities.  The Court confirmed
Skyport's Chapter 11 Plan of Reorganization orally from the bench
at a hearing held on Aug. 7, 2009.  The Court entered an order
confirming the Plan on Aug. 12, 2009.


SNUG HARBOR: Case Summary & 6 Unsecured Creditors
-------------------------------------------------
Debtor: Snug Harbor Marina, LLC
        926 Ocean Dr.
        Cape May, NJ 08204-5400

Case No.: 16-16895

Chapter 11 Petition Date: April 11, 2016

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

Judge: Hon. Andrew B. Altenburg Jr.

Debtor's Counsel: Scott M. Zauber, Esq.
                  SUBRANNI ZAUBER LLC
                  1624 Pacific Ave.
                  Atlantic City, NJ 08401
                  Tel: (609) 347-7000
                  E-mail: szauber@subranni.com

Total Assets: $6.46 million

Total Liabilities: $3.78 million

The petition was signed by Ralph P. Farrell, member.

A list of the Debtor's six largest unsecured creditors is available
for free at http://bankrupt.com/misc/njb16-16895.pdf


SPORTS AUTHORITY: Clark Hill Files Rule 2019 Statement
------------------------------------------------------
Clark Hill PLC disclosed in a court filing that it represents these
companies in the Chapter 11 cases of Sports Authority Holdings and
its affiliates:

     (1) Ramco-Gershenson Properties, L.P.
         c/o Bryan William, Legal Liaison
         Ramco-Gershenson, Inc.
         31500 Northwestern Highway, Ste. 300
         Farmington Hills, MI 48334

     (2) Janaf Shopping Center, LLC
         c/o Maggie Spillane, Regional Director
         McKinley, Inc.
         5900 E. Virginia Beach Blvd., Suite 520
         Norfolk, VA 23502

     (3) U.S. 41 & 1285 Company, LLC
         c/o Megan Luhrman, JD
         Mall Properties, Inc.
         550 New Albany Rd. East, Ste. 200
         New Albany, OH 43054

     (4) Bayshore Town Center, LLC
         c/o Megan Luhrman, JD
         Mall Properties, Inc.
         550 New Albany Rd. East, Ste. 200
         New Albany, OH 43054

     (5) Edens Plaza, LLC
         c/o Douglas McMahon, VP and Associate
         General Counsel
         Joseph Freed and Associates LLC
         11 E. Madison St., Suite L-100
         Chicago, IL 60602

The companies hold unsecured claims, unsecured rejection claims and
administrative claims for unpaid rent and other charges, the firm
further disclosed.

Clark Hill made the disclosure pursuant to Rule 2019 of the Federal
Rules of Bankruptcy Procedure.

The firm can be reached through:

     David M. Blau, Esq.
     Clark Hill PLC
     151 S. Old Woodward Ave., Ste. 200
     Birmingham, MI 48009
     Phone: 248-988-1817
     Fax: 248-988-2336
     Email: dblau@clarkhill.com

               About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.


Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.

Andrew Vara, Acting U.S. trustee for Region 3, appointed seven
creditors of Sports Authority Holdings Inc. to serve on the
official committee of unsecured creditors.


SPORTS AUTHORITY: Davidoff Hutcher Representing Consignment Vendors
-------------------------------------------------------------------
To comply with Rule 2019 of the Federal Rules of Bankruptcy
Procedure in In re Sports Authority Holdings, Inc., et al., two law
firms disclose that they represent three consignment vendors
individually and the three clients do not constitute a committee in
Sports Authority's chapter 11 cases.  

The three consignment vendors are:

      -- Castlewood Apparel Corp.;
      -- Warnaco Swimwear Products. Inc.; and
      -- GI Sportz Inc.

The two law firms are:

          David H. Wander, Esq.
          DAVIDOFF, HUTCHER & CITRON, LLP
          605 Third Avenue
          New York, New York 10158
          Telephone: (212) 557-7200
          E-mail: dhw@dhclegal.com

                -and-

          Frederick B. Rosner, Esq.
          Scott J. Leonhardt, Esq.
          THE ROSNER LAW GROUP LLC
          824 North Market Street, Suite 810
          Wilmington, Delaware 19801
          Telephone: (302) 777-1111
          E-mail: rosner@teamrosner.com
                  leonhardt@teamrosner.com

                 About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.

Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.  Lawyers at
Pachulski Stang Ziehl & Jones LLP represent the Official Committee
of Unsecured Creditors.


SPORTS AUTHORITY: Laufer Files Rule 2019 Statement
--------------------------------------------------
Laufer and Padjen LLC disclosed in a court filing that it
represents these creditors in the Chapter 11 cases of Sports
Authority Holdings and its affiliates:

     (1) West Vail Mall Corp.
         299 Milwaukee Street
         Suite 500
         Denver, Colorado 80206

     (2) Gart Real Estate Company LLP
         299 Milwaukee Street
         Suite 500
         Denver, Colorado 80206

     (3) 1000 BDWY Co., LLP
         299 Milwaukee Street
         Suite 500
         Denver, Colorado 80206

     (4) Najem Co., LLP
         West Vail Mall Corp., a Colorado corporation
         299 Milwaukee Street
         Suite 500
         Denver, Colorado 80206

     (5) 1001 Lincoln Limited Liability Company
         299 Milwaukee Street
         Suite 500
         Denver, Colorado 80206

The creditors may hold unsecured claims and administrative claims
for unpaid rent and other charges, the firm further disclosed.

Laufer made the disclosure pursuant to Rule 2019 of the Federal
Rules of Bankruptcy Procedure.

The firm can be reached through:

     Joel Laufer, Esq.
     Laufer and Padjen LLC
     5290 DTC Parkway, Suite 150
     Englewood, CO 80111
     Phone: (303) 830-3172
     Email: jl@jlrplaw.com

               About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.


Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.

Andrew Vara, Acting U.S. trustee for Region 3, appointed seven
creditors of Sports Authority Holdings Inc. to serve on the
official committee of unsecured creditors.


SPORTS AUTHORITY: Mirick, Sullivan File Rule 2019 Statement
-----------------------------------------------------------
Mirick, O'Connell, DeMallie & Lougee LLP and Sullivan Hazeltine
Allinson LLC disclosed in a court filing that they were hired by WS
Asset Management, Inc. to represent TSA Stores Inc.'s landlords.

WS Asset is the managing agent of Route 140 School Street LLC and
Cape Town Plaza LLC, which hold claims against TSA Stores, an
affiliate of Sports Authority Holdings Inc.

The law firms further disclosed that they were also hired by New
England Development Inc., the managing agent of CLPF - Marketplace
LLC, Solomon Pond Mall LLC and Westwood Marketplace Holdings LLC.

TSA Stores owes the landlords under their lease contracts,
according to the firms.  Both firms said they do not hold any
claims against or interests in TSA Stores and its affiliates.

The firms made the disclosure pursuant to Rule 2019 of the Federal
Rules of Bankruptcy Procedure.

The firms can be reached through:

     Elihu E. Allinson III
     Sullivan Hazeltine Allinson LLC
     901 North Market Street, Suite 1300
     Wilmington, DE 19801
     Tel: (302) 428-8191
     Fax: (302) 428-8195

          -- and --

     Paul W. Carey, Esq.
     Mirick, O'Connell, DeMallie & Lougee, LLP
     100 Front Street
     Worcester, MA 01608-1477
     Phone: (508) 791-8500
     Fax: (508) 791-8502
     E-mail: pcarey@mirickoconnell.com

               About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.


Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.

Andrew Vara, Acting U.S. trustee for Region 3, appointed seven
creditors of Sports Authority Holdings Inc. to serve on the
official committee of unsecured creditors.


SRP PLAZA: Judge Issues Final Decree to Close Case
--------------------------------------------------
Judge August Landis of the U.S Bankruptcy Court in Nevada has
ordered to close the Chapter 11 case of SRP Plaza L.P.

SRP Plaza, L.P., is the owner of a retail shopping center commonly
known as "Mission Paseo Shopping Center" with addresses of 6985 and
7005 West Sahara Avenue and 2555 and 2585 South Rainbow Boulevard,
Las Vegas, Nevada.  SRP Plaza, L.P., a Single Asset Real Estate,
filed a Chapter 11 petition (Bankr. D. Nev. Case No. 15-12127) on
April 16, 2015, to halt a receiver from taking Control of the
property.

U.S. Bank National Association, as successor trustee for the
registered holders of Bear Stearns Commercial Mortgage Securities,
Inc., Commercial Pass-Through Certificates, Series 20015-PW37,
declared an event of default under a Deed of Trust dated on Dec. 7,
2004, and recorded against the real property of SRP on Dec. 9, 2004
as Instrument No. 20041209-0003438.

On March 31, 2014, the Bank filed a complaint for appointment of a
receiver in the Eight Judicial District Court, Clark County,
Nevada, being Case No. A-15-71622 against SRP, and on April 9,
2015, filed an application for the appointment of a receiver
seeking the potential seizure of control of SRP's property, which
actions, if allowed to proceed, would cause significant and
irreparable harm to SPR, its creditors and other
parties-in-interest.

The bankruptcy case is assigned to Judge August B. Landis.  The
Debtor disclosed $10,481,975 in assets and $7,327,546 in
liabilities as of the Chapter 11 filing.

SRP Plaza is represented by Zachariah Larson, Esq., Matthew C.
Zirzow, Esq. and Shara L. Larson, Esq. at Larson & Zirzow, LLC in
Las Vegas, Nevada.


TARHEEL LAND: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Tarheel Land Company
           fdba JRS Properties, Inc.
           fdba JRS Properties Limited Partnership
           fdba JRS Farms General Partnership
        P.O. Box 1060
        Oxford, NC 27565

Case No.: 16-01912

Chapter 11 Petition Date: April 11, 2016

Court: United States Bankruptcy Court
       Eastern District of North Carolina
       (Raleigh Division)

Judge: Hon. David M. Warren

Debtor's Counsel: Jason L. Hendren, Esq.
                  HENDREN REDWINE & MALONE, PLLC
                  4600 Marriott Drive, Suite 150
                  Raleigh, NC 27612
                  Tel: 919 573-1422
                  Fax: 919 420-0475
                  E-mail: jhendren@hendrenmalone.com

                     - and -

                  Rebecca F. Redwine, Esq.
                  HENDREN REDWINE & MALONE, PLLC
                  4600 Marriott Drive, Suite 150
                  Raleigh, NC 27612
                  Tel: 919 420-0941
                  Fax: 919 420-0475
                  E-mail: rredwine@hendrenmalone.com

Total Assets: $6.69 million

Total Liabilities: $3.54 million

The petition was signed by Ossie E. Smith, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nceb16-01912.pdf


TAYLOR-WHARTON: Committee Seeks to Pursue Claims vs. Lenders
------------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in the
Chapter 11 cases of Taylor--Wharton International LLC and
Taylor-Wharton Cryogenics LLC seeks authority from the U.S.
Bankruptcy Court to commence, prosecute, and, if appropriate,
settle the causes of action against (a) the Prepetition First Lien
Secured Parties, (b) the Prepetition Second Lien Secured Parties,
(c) the DIP Secured Parties, (d) the Term Loan C Participants, (e)
Wind Point, (f) certain of the Non-Debtor Affiliates, who are
parties to the Intercompany Notes, and (g) additional parties and
entities as the Committee may identify through discovery.

The Committee alleges that the Prepetition First Lien Parties are
working in lock step with Wind Point, the ultimate equity holder
and "lender" under the Investor PIK Notes, through an orchestrated
series of transactions whereby Wind Point would infuse funds into
the Debtors under the guise that the infusion was in the form of an
extension of credit rather than an equity investment by the
Debtors' majority equity holder.  

The Committee further alleges that while the Prepetition First Lien
Secured Parties and the Second Lien Secured Parties appear to be
different entities, they are in fact the same considering that GE
Capital is the agent under both facilities.  In addition, the
Committee tells the Court that the holders of the Investor PIK
Notes, and the Prepetition Second Lien Secured Parties followed all
of the mandates of the Prepetition First Lien Secured Parties that
the holders of the Investor PIK Notes infuse additional liquidity
into the Debtors through series of amendments to the Prepetition
First Lien Credit Agreement when the Debtors could not obtain
third-party loans and/or were insolvent.

               Debtors Object

The Debtors dispute the Committee's pursuit for a separate judicial
valuation of the Lenders' collateral as unnecessary and improper
because the market process has already established the value of
that collateral.  The Debtors also dispute the Committee's claims
related to the Prepetition Secured Lenders' adequate protection for
the adequate protection granted in the Final DIP Order only comes
into play upon a diminution in collateral values from the Petition
Date, which is not applicable in this case since the collateral
values never diminished.

The Debtors argue that they received value associated with the loan
obligations and that, prior to agreeing to the recitals in the
Final DIP Order, the Debtors had performed an appropriate
investigation to satisfy themselves that the proposed recitals are
proper.  Accordingly, the Debtors properly refused to undertake the
claims raised by the Committee because the Committee has not
provided any basis for recharacterization in the Complaint.

According to the Debtors, insider status and under-capitalization
alone are not determinative but rather it is the "true intent" of
the parties, which determines what is reflected from what the
parties say in their contract, what they do in their actions and
the economic reality of the situation.  The true intent of the
transactions with the Prepetition First Lien Term C Lenders and the
Prepetition Second Lien Lenders is to treat them as debt
obligations by the Debtors, thus the intercreditor negotiations
among the various lender tranches, which creates a "waterfall" from
proceeds that does not rise to the level of requiring the Court to
ignore the intent of the parties and recharacterize the debt as
"equity."  Most importantly, there is no "reallocation" of equity
ownership in the Debtors in connection with these transactions, the
Debtors further argue.

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
are represented by:

     J. Cory Falgowski, Esq.
     REED SMITH LLP
     1201 Market Street, Suite 1500
     Wilmington, DE 19801
     Telephone: (302) 778-7500
     Facsimile: (302) 778-7575
     E-mail: jfalgowski@reedsmith.com  

     -- and --

     Paul M. Singer, Esq.
     REED SMITH LLP
     225 Fifth Avenue, Suite 1200
     Pittsburgh, PA 15222
     Telephone: (412) 288-3131
     Facsimile: (412) 288-3063
     Email: psinger@reedsmith.com   

     -- and --

     Derek J. Baker, Esq
     REED SMITH LLP
     1717 Arch Street, Suite 3100
     Philadelphia, PA 19103
     Telephone:  (215) 851-8100
     Facsimile:  (215) 851-1420
     Email:  dbaker@reedsmith.com  

Counsel to the Official Committee of Unsecured Creditors  

     Mary E. Seymour, Esq.
     Wojciech F. Jung, Esq.
     Cassandra Porter, Esq.
     LOWENSTEIN SANDLER LLP
     65 Livingston Avenue
     Roseland, NJ  07068
     Telephone:  (973-597-2500
     Facsimile:  (973) 597-2400
     Email: mseymour@lowenstein.com
            wjung@lowenstein.com
            cporter@lowenstein.com

     -- and --   

     Frederick B. Rosner, Esq.
     Julia B. Klein, Esq.
     THE ROSNER LAW GROUP LLC  
     824 N. Market Street, Suite 810
     Wilmington, DE 19801
     Telephone: (302) 777-1111  
     Email: rosner@teamrosner.com
            klein@teamrosner.com

           About Taylor-Wharton

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead
Case No. 15-12075) on Oct. 7, 2015.  The petition was signed by
Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct or
indirect parent of several foreign non-debtor subsidiaries which
have manufacturing operations in China, Malaysia, Slovakia, and
warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Nixon Peabody LLP as special counsel, Argus Management
Corporation as interim management services provider, Stifel,
Nicolaus & Company, Incorporated and Miller Buckfire & Company LLC
as investment banker and Logan & Company, Inc., as noticing and
claims agent.  Argus Management Corporation is authorized to
provide interim management services, and designate Thomas Doherty
as chief restructuring officer.

Taylor-Wharton International LLC disclosed total assets of
$14,463,438 and total liabilities of $47,978,923.  O'Neal Steel
Inc. is listed as the largest unsecured creditor holding a trade
claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.

The Office of the U.S. Trustee appointed the Committee pursuant to
Section 1102(a)(1) of the Bankruptcy Code.  The Committee is
comprised of three members: (a) Pension Benefit Guaranty
Corporation, (b) O'Neal Steel, Inc., and (c) Harsco Corporation.
On the same day, the Committee selected Lowenstein Sandler LLP and
The Rosner Law Group LLC to serve as its co-counsel and EisnerAmper
LLP to serve as its financial advisor in the Chapter 11 Cases.


TAYLOR-WHARTON: Seeks to Assume & Assign Shell Contract to GRI
--------------------------------------------------------------
Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
seek authority from the U.S. Bankruptcy Court to assume and assign
to Great River Industries, LLC, Purchase Order No. 4514562187,
dated January 29, 2015, between Equilon Enterprises, LLC, and
Cryogenics.

According to the Debtors, prior to the Petition Date, Cryogenics
retained GRI to complete the fabrication of cryogenic tanks in
relation to a Consortium Agreement between Cryogenics and Enerfab,
Inc., for the following projects: the Ashtabula Project and the
Shell Project.  Upon completion of the Ashtabula Project, the
Parties terminated the Consortium Agreement and replaced it with a
Settlement Agreement and Release.  However, the Debtors' contracts
with Enerfab and GRI remain executory because the Shell Project
remains open to an ultimate customer, Equilon Enterprises.

The Debtors relate that they are unable to complete the Shell
Project because of its bankruptcy filing; however, various other
parties related to the Shell Project desire that the Shell Project
be completed.  These parties include GRI, who seeks to continue to
perform work for the Shell Project, and Equilon, who intends to
further assign its rights under its purchase order to a third
party, NFE ISO Partners LLC, who is interested in purchasing the
Equilon’s rights to the completed Shell Project.

and assign to Great River Industries, LLC (GRI) the Subject
Contract, execute and deliver the Assignment Agreement and the
Settlement Agreement and Release, including, without limitation,
granting the releases contained therein, grant the Subject License
to GRI, sell the Subject Assets to GRI free and clear of all liens,
claims, encumbrances, and interests for the Purchase Price, and
reject the Rejected Contracts, provided that the rejection of the
Storage Agreement will be effective as of the earlier of the
transfer to the purchaser of the tanks currently located therein or
April 30, 2016.

In addition, in order to fully document the transaction and the
rights and obligations of the parties going forward, the Debtors
seek to enter into two additional agreements:

   (1) The first is the Assumption and Assignment Agreement to be
executed by and between Cryogenics, GRI, the Shell Customer, and
NFE, setting forth the relationship among the Shell Customer, NFE
and GRI.

   (2) The second is the Agreement and Release by and between
Cryogenics, Enerfab, and GRI pursuant to which the transactions
contemplated thereby are documented, including, without limitation,
a mutual release of claims among the parties thereto.

Pursuant to the Settlement Agreement and Release, the Debtors also
seek to grant to GRI a fully transferable, non-exclusive,
perpetual, non-terminable, and irrevocable, worldwide, fully
paid-up, royalty-free right and license under, and to use, any
drawings that depict the physical and functional requirements of
the tanks under the Shell Project owned or co-owned by the
Debtors.

Pursuant to the Settlement Agreement and Release, the Debtors also
seek to sell to GRI certain materials and equipment needed to
complete the Shell Project for a total purchase price of $285,000.
These materials and equipment consist of (i) all completed or
partially completed tanks under the Shell Project; (ii) any
materials delivered by the Debtors to GRI prior to the date hereof
for use in the Shell Project, including, without limitation, the
Debtors' weld wire, paint, flux, general supplies and insulation
which are currently located in GRI's facility in Natchez,
Mississippi); and (iii) the certain equipment.

Furthermore, the Debtors also seek to terminate/reject the
Consortium Agreement, the Amended and Restated Agreement, the GRI
Purchase Order, and that certain related Storage Agreement, dated
May 22, 2015, between GRI and Cryogenics.

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
are represented by:

     J. Cory Falgowski, Esq.
     REED SMITH LLP
     1201 Market Street, Suite 1500
     Wilmington, DE 19801
     Telephone: (302) 778-7500
     Facsimile: (302) 778-7575
     E-mail: jfalgowski@reedsmith.com  

     -- and --

     Paul M. Singer, Esq.
     REED SMITH LLP
     225 Fifth Avenue, Suite 1200
     Pittsburgh, PA 15222
     Telephone: (412) 288-3131
     Facsimile: (412) 288-3063
     Email: psinger@reedsmith.com   

     -- and --

     Derek J. Baker, Esq
     REED SMITH LLP
     1717 Arch Street, Suite 3100
     Philadelphia, PA 19103
     Telephone:  (215) 851-8100
     Facsimile:  (215) 851-1420
     Email:  dbaker@reedsmith.com

            About Taylor-Wharton

Taylor-Wharton International LLC and Taylor-Wharton Cryogenics LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead
Case No. 15-12075) on Oct. 7, 2015.  The petition was signed by
Thomas Doherty as chief restructuring officer.

Cryogenics is a leading designer, engineer and manufacturer of
cryogenic equipment designed to transport and store liquefied
atmospheric and hydrocarbon gases.  Cryogenics has a single United
States operation in Theodore, Alabama.  Cryogenics is the direct or
indirect parent of several foreign non-debtor subsidiaries which
have manufacturing operations in China, Malaysia, Slovakia, and
warehousing operations in Germany and Australia.

The Debtors have engaged Reed Smith LLP as general bankruptcy
counsel, Nixon Peabody LLP as special counsel, Argus Management
Corporation as interim management services provider, Stifel,
Nicolaus & Company, Incorporated and Miller Buckfire & Company LLC
as investment banker and Logan & Company, Inc., as noticing and
claims agent.  Argus Management Corporation is authorized to
provide interim management services, and designate Thomas Doherty
as chief restructuring officer.

Taylor-Wharton International LLC disclosed total assets of
$14,463,438 and total liabilities of $47,978,923.  O'Neal Steel
Inc. is listed as the largest unsecured creditor holding a trade
claim of $788,815.

Judge Brendan Linehan Shannon is assigned to the case.

The Office of the U.S. Trustee appointed the Committee pursuant to
Section 1102(a)(1) of the Bankruptcy Code.  The Committee is
comprised of three members: (a) Pension Benefit Guaranty
Corporation, (b) O'Neal Steel, Inc., and (c) Harsco Corporation.
On the same day, the Committee selected Lowenstein Sandler LLP and
The Rosner Law Group LLC to serve as its co-counsel and EisnerAmper
LLP to serve as its financial advisor in the Chapter 11 Cases.


TORQUED-UP ENERGY: Gollob Morgan Okayed as Accountants
------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Texas
authorized Torqued-Up Energy Services, Inc., et al., to employ
Gollob, Morgan & Peddy, PC, as certified public accountants.

The normal hourly billing rates of professionals with primary
responsibilities in the case are:

         Kevin R. Cashion                     $220
         Dianne Johnston                      $185
         Pamela Nash                          $145

The firm has requested for a retainer of $15,250 to be held in
trust.

To the best of the Debtors' knowledge, the  firm, its members and
associates, do not hold or represent any interest adverse to that
of the Debtors' estates with respect to the matter for which
their employment is sought.

The firm can be reached at:

         Gollob Morgan Peddy, PC
         c/o Kevin R. Cashion
         1001 ESE Loop 323, Suite 300
         Tyler, Texas 75701
         Tel: (903) 534-0088
         Cell: (903) 521-2177
         E-mail: kevin@gmpcpa.com

                      About Torqued-Up Energy

Torqued-Up Energy Services, Inc., Arctic Acquisition Corporation
and Torqued-up Enterprises, LLC filed Chapter 11 bankruptcy
petitions (Bankr. E.D. Tex. Case Nos. 15-60796, 15-60798, and
15-60799, respectively) on Nov. 24, 2015.  The petition was signed
by Kelly W. Prentiss as CEO.  The Debtors estimated both assets
and
liabilities in the range of $10 million to $50 million.  Ireland,
Carroll, & Kelley and Searcy & Searcy, P.C. serve as the Debtors'
counsel.  Judge Bill Parker has been assigned the case.

Arctic and Enterprises, while non-operating, are guarantors on
TUES
debt to the senior secured lenders and have pledged assets to
secure that debt.

As of Oct. 9, 2015, the Company had on hand the sum of
approximately $1.2 million in cash.  The Debtor also owns
approximately $3 million in outstanding accounts receivables of
which approximately $1.5 million is collectible.

The Company's other non-insider, third-party debt is approximately
$1.5 million as of Oct. 9, 2015, consisting largely of
approximately 41 capital leases.

The Company has unsecured subordinated debt, which has been
advanced by one or more equity owners over time.  That sub-debt is
contractually subordinated to the secured debt of the Banks and as
of Oct. 9, 2015, totals in the amount of $32.5 million.  No
interest or other payments have been made on the sub-debt.


TRANSCANADA CORP: Egan-Jones Cuts Sr. Unsecured Rating to BB+
-------------------------------------------------------------
Egan-Jones Ratings Company downgraded the senior unsecured rating
on debt issued by TransCanada Corp to BB+ from BBB on March 18,
2016.

TransCanada Corporation is the parent company of TransCanada
PipeLines Limited. The Company is focused on natural gas
transmission and power services. TransCanada's network of pipeline
transports the majority of Western Canada's natural gas production
to markets in Canada and the United States.



TRI-VALLEY CORP: Court Narrows Claims in Investors' Suit
--------------------------------------------------------
Judge Richard Seeborg of the United States District Court for the
Northern District of California dismissed several of the
plaintiffs' claims in the case captioned STEVEN SIEGAL, et al.,
Plaintiffs, v. G. THOMAS GAMBLE, et al., Defendants, Case
No.13-cv-03570-RS (N.D. Cal.).

Steven Siegal, David Groblebe, Christian Wipf, and James Rybicki
were among the investors who purchased securities in the Tri-Valley
Corporation Opus I Drilling Program, L.P..  They asserted a host of
claims grounded in fraud on behalf of a putative class arising from
the sale of Opus securities and the ensuing bankruptcy proceedings
initiated by Opus and its general managing partner, Tri-Valley
Corporation (TVC).  The plaintiffs also accused two unlicensed and
unregistered securities broker-dealers, Dr. Alfred Lopez and
Behrooz Sarafraz, of various securities violations, specifically
for operating as Opus "aggregators."  The plaintiffs also asserted
a claim for aiding and abetting breach of fiduciary duty against
K&L Gates, LLP (KLG), which represented both Opus and TVC
throughout their respective bankruptcies.

Judge Seeborg found that Claim 4 must be dismissed with prejudice
because the UCL's protections do not extend to sales involving
securities transactions.  Further, the judge found deficiences in
the plaintiffs' claims for relief against Lopez and Sarafraz which
should prompt their dismissal.

Judge Seeborg found that only Groblebe has pleaded facts
establishing standing to assert claims against Lopez and Sarafraz
on claims 1, 2, 3, 5, 6 and 7 although he has not done so with
sufficient particularity to satisfy the requirements of Fed. R.
Civ. P. 9(b).  As such, the judge also dismissed claims 1, 2, 3, 5,
and 6 but afforded Groblebe one final opportunity to cure the
pleading deficiencies, provided he can amend the complaint in good
faith.

Finally, Judge Seeborg dismissed the plaintiffs' 8th claim for
relief against KLG upon finding that it violates the anti-SLAPP
statute.

A full-text copy of Judge Seeborg's March 21, 2016 order is
available at http://is.gd/hEolU7from Leagle.com.

Steven Siegal, James Rybicki, David Groblebe, Christian Wipf are
represented by:

          Edward Scott Zusman, Esq.
          John R. Fabry, Esq.
          Kevin K. Eng, Esq.
          MARKUN ZUSMAN FRENIERE & COMPTON LLP
          465 California Street, Suite 401
          San Francisco, CA 94104
          Tel: (415)438-4515
          Fax: (415)434-4505
          Email: ezusman@mzclaw.com
                 keng@mzclaw.com

G. Thomas Gamble is represented by:

          James Mark Neudecker, Esq.
          REED SMITH LLP
          101 Second Street, Suite 1800
          San Francisco, CA 94105
          Email: jneudecker@reedsmith.com

Loren J. Miller, Henry Lowenstein, Paul W. Bateman, Edward M.
Gabriel, James S. Mayer, Maston Cunningham, John Durbin, Greg
Billinger are represented by:

          Simona Gurevich Strauss, Esq.
          Stephen Patrick Blake, Esq.
          SIMPSON THACHER & BARTLETT LLP
          2475 Hanover Street
          Palo Alto, CA 94304
          Tel: (650)251-5000
          Fax: (650)251-5002
          Email: sstrauss@stblaw.com
                 sblake@stblaw.com

Lynn Blystone is represented by:

          Karen Palladino Ciccone, Esq.
          AKERMAN LLP
          725 South Figueroa Street, 38th Floor
          Los Angeles, CA 90017
          Tel: (213)688-9500
          Fax: (213)627-6342
          Email: karen.ciccone@akerman.com

            -- and --

          Brian Miller, Esq.
          Samantha Kavanaugh, Esq.
          AKERMAN SENTERFITT
          Three Brickell City Centre
          98 Southeast Seventh Street, Suite 1100
          Miami, FL 33131
          Tel: (305)374-5600
          Fax: (305)374-5095
          Email: brian.miller@akerman.com
                 samantha.kavanaugh@akerman.com

Alfred Lopez is represented by:

          Christopher Charles Cooke, Esq.
          MURPHY COOKE KOBRICK LLP
          177 Bovert Road, Suite 600
          San Mateo, CA 94402
          Tel: (650)638-2370
          Fax: (650)350-4333
          Email: ccooke@mckllp.com

K&L Gates LLP is represented by:

          Joseph Patrick McMonigle, Esq.
          John B Sullivan, Esq.
          Kate G Kimberlin, Esq.
          LONG & LEVIT LLP
          465 California Street, 5th Floor
          San Francisco, CA 94104
          Tel: (415)397-2222
          Fax: (415)397-6392
          Email: jmcmonigle@longlevit.com
                 jsullivan@longlevit.com

                       About Tri-Valley Corp.

Bakersfield, California-based Tri-Valley Corporation (OTQCB: TVLY)
-- http://www.tri-valleycorp.com/-- explored for and produced oil


and natural gas in California and has two exploration-stage gold
properties in Alaska.  It had 21 wells in California and
exploration rights in Alaska.

Tri-Valley and three affiliates filed Chapter 11 bankruptcy
petitions (Bankr. D. Del. Lead Case No. 12-12291) on Aug. 7, 2012,
with funding from lenders that require a prompt sale of the
business.  The affiliates are Tri-Valley Oil & Gas Co., TVC Opus I
Drilling Program, L.P., and Select Resources Corporation, Inc.

K&L Gates LLP serves as bankruptcy counsel.  Attorneys at Landis
Rath & Cobb LLP serve as Delaware and conflicts counsel.  Epiq
Bankruptcy Solutions, LLC, is the claims agent.

The Debtor disclosed assets of $17.6 million and liabilities
totaling $14.1 million.  Former Chairman G. Thomas Gamble, who is
financing the bankruptcy case, is owed $7.2 million on several
secured notes.  There is an unsecured note for $528,000 and $9.4
million in unsecured debt owing to suppliers.

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

The Tri-Valley case was converted to Chapter 7 according to a March
25, 2013 order.  Charles A. Stanziale, Jr., was appointed as
chapter 7 trustee.


TRIBUNE CO: 2nd Cir. Affirms Dismissal of Claims vs Ex-Shareholder
------------------------------------------------------------------
The United States Court of Appeals for the Second Circuit affirmed
the district court's dismissal of the state law, constructive
fraudulent conveyance claims brought against former shareholders of
the chapter 11 debtor Tribune Media Company.

The appellants, who are representatives of certain unsecured
creditors of Tribune, sought to recover an amount sufficient to
satisfy Tribune's debts to them by avoiding and recovering payments
by Tribune to shareholders that purchased all of its stock.  The
payments occurred in a transaction commonly called a leveraged
buyout ("LBO"), soon after Tribune went into Chapter 11 bankruptcy.
The complaints were later consolidated with the litigation trust's
ongoing federal intentional fraud claims in a multi-district
litigation proceeding.

After consolidation, the district court granted the Tribune
shareholders' motion to dismiss on the ground that the Bankruptcy
Code's automatic stay provision deprived the appellants of
statutory standing to pursue their claims so long as the litigation
trustee was pursuing the avoidance of the same transfers, albeit
under a different legal theory.  The district court, however,
rejected the appellee's preemption argument based on Section 546(e)
of the Bankruptcy Code.

The appellants appealed the district court's dismissal for lack of
statutory standing, and the appellees cross-appealed from the
district court's rejection of their argument that the appellant's
claims are preempted.

The Second Circuit held that the appellants are not barred by the
bankruptcy code's automatic stay provision from bringing state law,
constructive fraudulent conveyance claims while avoidance
proceedings against the same transfers brought by a party
exercising the powers of a bankruptcy trustee on an intentional
fraud theory are ongoing.  The appellate court explained that the
appellants have been freed from the automatic stay's restrictions
by orders of the bankruptcy court and by the debtors' confirmed
reorganization plan.

However, the Second Circuit also held that the appellants' claims
are preempted by Section 546(e), which shields from avoidance
proceedings brought by a bankruptcy trustee transfers by or to
financial intermediaries effectuating settlement payments in
securities transactions or made in connection with a securities
contract, except through an intentional fraudulent conveyance
claim.

Thus, the Second Circuit affirmed the dismissal of the complaint,
but on preemption rather than standing grounds.

The case is IN RE: TRIBUNE COMPANY FRAUDULENT CONVEYANCE
LITIGATION. NOTE HOLDERS, Deutsche Bank Trust Company Americas, Law
Debenture Trust Company of New York, Wilmington Trust Company,
INDIVIDUAL RETIREES, William A. Niese, on behalf of a putative
class of Tribune Company retirees,
Plaintiffs-Appellants-Cross-Appellees, MARK S. KIRSCHNER, as
Litigation Trustee for the Tribune Litigation Trust, Plaintiff,
TENDERING PHONES HOLDERS, Citadel Equity Fund Ltd., Camden Asset
Management LLP and certain of their affiliates,
Plaintiffs-Intervenors, v. LARGE PRIVATE BENEFICIAL OWNERS,
FINANCIAL INSTITUTION HOLDERS, FINANCIAL INSTITUTION CONDUITS,
Merrill Lynch, Pierce, Fenner & Smith, Inc., on behalf of a
putative class of former Tribune Company shareholders, PENSION
FUNDS, including public, private, and Taft Hartley Funds,
INDIVIDUAL BENEFICIAL OWNERS, Mario J. Gabelli, on behalf of a
putative class of former Tribune Company shareholders, MUTUAL
FUNDS, AT-LARGE, ESTATE OF KAREN BABCOCK, PHILLIP S. BABCOCK,
DOUGLAS BABCOCK, DEFENDANTS LISTED ON EXHIBIT B,
Defendants-Appellees-Cross-Appellants, CURRENT AND FORMER DIRECTORS
AND OFFICERS, Betsy D. Holden, Christopher Reyes, Dudley S. Taft,
Enrique Hernandez, Jr., Miles D. White, Robert S. Morrison, William
A. Osborn, Harry Amsden, Stephen D. Carver, Dennis J. FitzSimons,
Robert Gremillion, Donald C. Grenesko, David Dean Hiller, Timothy
J. Landon, Thomas D. Leach, Luis E. Le, Mark Hianik, Irving Quimby,
Crane Kenney, Chandler Bigelow, Daniel Kazan, Timothy Knight,
Thomas Finke, SAM ZELL AND AFFILIATED ENTITIES, EGI-TRB, LLC,
Equity Group Investments, LLC, Sam Investment Trust, Samuel Zell,
Tower CH, LLC, Tower DC, LLC, Tower DL, LLC, Tower EH, LLC, Tower
Gr, LARGE SHAREHOLDERS, Chandler Trusts and their representatives,
FINANCIAL ADVISORS, Valuation Research Corporation, Duff & Phelps,
LLC, Morgan Stanley & Co. Inc. and Morgan Stanley Capital Services,
Inc., GreatBanc Trust Company, Citigroup Global Markets, Inc., CA
PUBLIC EMPLOYEE RETIREMENT SYSTEM, CALPERS, UNIVERSITY OF CA
REGENTS, T. ROWE PRICE ASSOCIATES, INC., MORGAN KEEGAN & COMPANY,
INC., NTCA, DIOCESE OF TRENTON-PENSION FUND, FIRST ENERGY SERVICE
COMPANY, MARYLAND STATE RETIREMENT AND PENSION SYSTEM, T BANK LCV
QP, T BANK-LCV-PT, JAPAN POST INSURANCE, CO., LTD., SERVANTS OF
RELIEF FOR INCURABLE CANCER (AKA DOMINICAN SISTERS OF HAWTHORNE),
NEW LIFE INTERNATIONAL, NEW LIFE INTERNATIONAL TRUST, SALVATION
ARMY, SOUTHERN TERRITORIAL HEADQUARTERS, CITY OF PHILADELPHIA
EMPLOYEES, OHIO CARPENTERS' MIDCAP (AKA OHIO CARPENTERS' PENSION
FUND), TILDEN H. EDWARDS, JR., MALLOY AND EVANS, INC., BEDFORD OAK
PARTNERS, LP, DUFF AND PHELPS LLC, DURHAM J. MONSMA, CERTAIN
TAG-ALONG DEFENDANTS, MICHAEL S. MEADOWS, WIRTZ CORPORATION,
Defendants, Docket Nos. 13-3992-cv, 13-3875-cv, 13-4178-cv,
13-4196-cv (2nd Cir.).

A full-text copy of the Second Circuit's March 24, 2016 order is
available at http://is.gd/Szwjx0from Leagle.com.

ROY T. ENGLERT, JR. -- renglert@robbinsrussell.com -- (Lawrence S.
Robbins -- lrobbins@robbinsrussell.com -- Ariel N. Lavinbuk --
alavinbuk@robbinsrussell.com -- Daniel N. Lerman --
dlerman@robbinsrussell.com -- Shai D. Bronshtein --
sbronshtein@robbinsrussell.com -- Robbins, Russell, Englert,
Orseck, Untereiner & Sauber LLP, Washington, DC, Pratik A. Shah,
James E. Tysse, Z.W. Julius Chen -- chenj@akingump.com -- Akin Gump
Strauss Hauer & Feld LLP, Washington, DC, David M. Zensky --
dzensky@akingump.com -- Mitchell Hurley – mhurley@akingump.com --
Deborah J. Newman -- djnewman@akingump.com -- Akin Gump Strauss
Hauer & Feld LLP, New York, NY, Robert J. Lack -- rlack@fklaw.com
--  & Hal Neier -- hneier@fklaw.com – Friedman Kaplan Seiler &
Adelman LLP, New York, NY, Daniel M. Scott & Kevin M. Magnuson,
Kelley, Wolter & Scott, P.A., Minneapolis, MN, David S. Rosner --
drosner@kasowitz.com -- & Sheron Korpus -- skorpus@kasowitz.com --
Kasowitz Benson Torres & Friedman LLP, New York, NY, Joseph
Aronauer -- jaronauer@aryllp.com -- Aronauer Re & Yudell, LLP, New
York, NY, on the brief), Robbins, Russell, Englert, Orseck,
Untereiner & Sauber LLP, Washington, DC, for
Plaintiffs-Appellants-Cross-Appellees Note Holders.

Jay Teitelbaum, Teitelbaum & Baskin LLP, White Plains, NY, for
Plaintiffs-Appellants-Cross-Appellees Individual Retirees.

Joel A. Feuer & Oscar Garza, Gibson, Dunn & Crutcher LLP, Los
Angeles, CA,David C. Bohan & John P. Sieger, Katten Muchin Rosenman
LLP, Chicago, IL,for Defendants-Appellees-Cross-Appellants Large
Private Beneficial Owners.

PHILIP D. ANKER (Alan E. Schoenfeld, Adriel I. Cepeda Derieux,
Pablo G. Kapusta, Wilmer Cutler Pickering Hale and Dorr LLP, New
York, NY, Sabin Willett & Michael C. D'Agnostino, Bingham McCutchen
LLP, Boston, MA, Joel W. Millar, Washington, DC, on the brief),
Wilmer Cutler Pickering Hale and Dorr LLP, New York, NY, for
Defendants-Appellees-Cross-Appellants Financial Institution
Holders.

Elliot Moskowitz, Davis Polk & Wardwell LLP, New York, NY, Daniel
L. Cantor, O'Melveny & Myers LLP, New York, NY, Gregg M. Mashberg &
Stephen L. Ratner, Proskauer Rose LLP, New York, NY, for
Defendants-Appellees-Cross-Appellants Financial Institution
Conduits.

DOUGLAS HALLWARD-DRIEMEIER, Ropes & Gray LLP, Washington, DC, D.
Ross Martin, Ropes & Gray LLP, New York, NY, Matthew L. Fornshell,
Ice Miller LLP, Columbus, OH, for
Defendants-Appellees-Cross-Appellants Pension Funds.

Andrew J. Entwistle, Entwistle & Cappucci, LLP, New York, NY, David
N. Dunn, Potter Stewart, Jr. Law Offices, Brattleboro, VT, Mark A.
Neubauer, Steptoe & Johnson LLP, Los Angeles, CA, for
Defendants-Appellees-Cross-Appellants Individual Beneficial
Owners.

Michael S. Doluisio & Alexander Bilus, Dechert LLP, Philadelphia,
PA, Steven R. Schoenfeld, Robinson & Cole LLP, New York, NY, for
Defendants-Appellees-Cross-Appellants Mutual Funds.

Alan J. Stone & Andrew M. LeBlanc, Milbank, Tweed, Hadley & McCloy
LLP, New York, NY, for Defendant-Appellee-Cross-Appellant
At-Large.

Gary Stein, David K. Momborquette, William H. Gussman, Jr., Schulte
Roth & Zabel LLP, New York, NY, for
Defendants-Appellees-Cross-Appellants Defendants Listed on Exhibit
B.

Kevin Carroll, Securities Industry and Financial Markets
Association, Washington, DC, Holly K. Kulka, NYSE Euronext, New
York, NY, Marshall H. Fishman, Timothy P. Harkness, David Y.
Livshiz, Freshfields Bruckhaus Deringer US LLP, New York, NY, for
Amici Curiae Securities Industry and Financial Markets Association,
International Swaps and Derivatives Association, Inc., and the NYSE
Euronext.

Michael A. Conley, John W. Avery, Tracey A. Hardin, Benjamin M.
Vetter, Securities and Exchange Commission, Washington, DC, for
Amicus Curiae Securities and Exchange Commission.

                         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.


VARIANT HOLDING: Court OKs Joint Administration of Ch. 11 Cases
---------------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware directed the
joint administration of cases of Variant Holding Company, LLC, et
al. for procedural purposes only under Variant Holding Company,
LLC.

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: Proposes June 3 General Claims Bar Date
---------------------------------------------------
Venoco, Inc., and its debtor affiliates ask the U.S. Bankruptcy
Court to fix June 3, 2016, as the General Bar Date by which proofs
of claim must be filed by general unsecured creditors and certain
creditors holding claims against the Debtors,.

The Debtors also ask the Court to fix September 14, 2016, as the
Governmental Bar Date by which proofs of claim by Governmental
Units must be filed.

The Debtors further seek the Court to establish as Rejection Bar
Date the later of (a) the General Bar Date and (b) 30 days after
the effective date of rejection, as the bar date by which a proof
of claim relating to the Debtors' rejection of executory contracts
and unexpired leases must be filed, and fixing the Amended Schedule
Bar Date, if necessary, as the later of (a) the General Bar Date
and (b) 21 days after the date that notice of the amendment is
served on the affected claimant.

Venoco, Inc. and its subsidiaries are represented by:

     Robert J. Dehney, Esq.
     Andrew R. Remming, Esq.
     Erin R. Fay, Esq.  
     MORRIS, NICHOLS, ARSHT & TUNNEL LLP
     1201 North Market Street, 16th Floor
     P.O. Box 1347
     Wilmington, Delaware 19899
     Telephone: (302) 658-9200
     Facsimile: (302) 658-3989
     Email: rdehney@mnat.com
            aremming@mnat.com
            efay@mnat.com  

     -- and --

     Robert G. Burns, Esq.
     Robin J. Miles, Esq.
     Rebekah T. Scherr, Esq.
     BRACEWELL LLP
     1251 Avenue of Americas, 49th Floor
     New York, New York 10020-1104
     Telephone: (212) 508-6100
     Facsimile: (800) 404-3970
     Email: Robert.Burns@bracewelllaw.com
            Robin.Miles@bracewelllaw.com
            Rebekah.Scherr@bracewelllaw.com

     -- and --

     Mark E. Dendinger, Esq.
     BRACEWELL LLP
     CityPlace I, 34th Floor 185
     Asylum Street
     Hartford, Connecticut 06103
     Telephone: (860) 947-9000
     Facsimile: (800) 404-3970
     Email: Mark.Dendinger@bracewelllaw.com

                    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.


VERSO CORP: Committee Hires Zolfo Cooper as Financial Advisors
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Verso Corporation,
et al., sought and obtained authorization from the U.S. Bankruptcy
Court for the District of Delaware to retain Zolfo Cooper LLC as
bankruptcy consultant and financial advisor to the Committee, nunc
pro tunc to February 5, 2016.

The Committee requires Zolfo Cooper to:

     a. monitor the Debtors' cash flow and operating performance,
including:

        -- compare actual financial and operating results to plans,


        -- evaluate the adequacy of financial and operating
controls,

        -- track the status of the Debtors'/Debtors' professionals'
progress relative to developing and implementing programs such as
preparation of a business plan, identifying and disposing of
non-productive assets, and other such activities, and

        -- prepare periodic presentations to the Committee
summarizing findings and observations resulting from Zolfo Cooper's
monitoring activities.

     b. analyze and comment on operating and cash flow projections,
business plans, operating results, financial statements, other
documents and information provided by the Debtors/Debtors'
professionals, and other information and data pursuant to the
Committee's request;

     c. advise the Committee concerning interfacing with the
Debtors, other constituencies and their respective professionals;

     d. prepare for and attend meetings of the Committee and
subcommittees thereof;

     e. analyze claims and perform investigations of potential
preferential transfers, fraudulent conveyances, related-party
transactions and such other transactions as may be requested by the
Committee;

     f. analyze and advise the Committee about the Debtors'
proposed plan of reorganization, the underlying business plan,
including the related assumptions and rationale, and the related
disclosure statement;

     g. prepare an expert report and provide testimony, as
required; and

     h. provide other services as requested by the committee

Zolfo Cooper will be paid at these hourly rates:

     Managing Directors                 $790-$985
     Professional Staff                 $280-$790
     Support Personnel                   $60-$270

It is the customary practice of the firm to bill clients for the
travel time consistent with the guidelines of the jurisdiction. For
this jurisdiction, Zolfo Cooper will apply a 50% discount rate to
non-working travel time billed.

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

David MacGreevey, managing director of Zolfo Cooper, LLC, 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.

Zolfo Cooper may be reached at:

      David MacGreevey
      Managing Director
      Zolfo Cooper
      Grace Building
      1114 Avenue of the Americas, 41st Floor
      New York, NY 10036
      T: (212) 561-4187
         (212) 561-4000
      F: (212) 213-1749
      C: +1 914 419 1458
      E-mail: dmacgreevey@zolfocooper.com

                    About Verso Corporation



Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.



Verso Corporation and 26 of its affiliates, including
NewPage
Corporation, filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10163 to 16-10189, respectively) on
Jan. 26, 2016. The petitions were signed by David Paterson, the
president and CEO.



The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.



The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing
agent.



The U.S. Trustee for Region 3 has appointed seven creditors of

Verso Corp. and its affiliates to serve on the official committee
of unsecured creditors.


VERSO CORP: Creditors' Panel Hires Lowenstein as Counsel
--------------------------------------------------------
The Official Committee of Unsecured Creditors of Verso Corporation,
et al., sought and obtained authorization from the U.S. Bankruptcy
Court for the District of Delaware to retain Lowenstein Sandler LLP
as counsel for the Committee, nunc pro tunc to February 5, 2016.

The Committee requires Lowenstein Sandler to:

     a. advise the Committee with respect to its rights, duties,
and powers in these Chapter 11 Cases;

     b. assist and advise the Committee in its consultations with
the Debtors relative to the administration of these Chapter 11
Cases;

     c. assist the Committee in analyzing the claims of the
Debtors' creditors and the Debtors' capital structure and in
negotiating with holders of claims and equity interest and the
Debtors' proposed financing;

     d. assist the Committee in its investigation of the acts,
conduct, assets, liabilities, and financial condition of the
Debtors and of the operation of the Debtors' businesses;

     e. assist the Committee in its investigation of the liens and
claims of the holders of the Debtors' pre-petition debt and the
prosecution of any claims or causes of action revealed by such
investigation;

     f. assist the Committee in its analysis of, and negotiations
with, the Debtors or any third party concerning matters related to,
among other things, the assumption or rejection of certain leases
of nonresidential real property and executory contracts, asset
dispositions, sales of assets, financing of other transactions and
the terms of one or more plans of reorganization for the Debtors
and accompanying disclosure statements and related plan documents;

     g. assist and advise the Committee as to its communications to
unsecured creditors regarding significant matters in these Chapter
11 Cases;

     h. represent the Committee at hearings and other proceedings;

     i. review and analyze applications, orders, statements of
operations, and schedules filed with the court and advise the
Committee as to their propriety;

     j. assist the Committee in preparing pleadings and
applications as may be necessary in furtherance of the Committee's
interest and objectives in these Chapter 11 Cases;

     k. prepare, on behalf of the Committee, any pleadings,
including without limitation, motions, memoranda, complaints,
adversary complaints, objections, or comments in connection with
any of the foregoing; and

     l. perform other legal services as maybe required or are
otherwise deemed to be in the interest of the Committee in
accordance with the Committee's powers and duties as set forth in
the Bankruptcy Rules, or other applicable law.
  
Lowenstein Sandler will be paid at these hourly rates:

        Partners                     $550-$1,100
        Senior Counsel and Counsel   $390-$695
        Associates                   $285-$595
        Paralegals                   $110-$290

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

Sharon L. Levine, Esq., partner of Lowenstein Sandler, 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 State Trustees' Appendix B - Guidelines
for Reviewing Applications for Compensation and Reimbursement of
Expenses Filed Under 11 U.S.C. Sec. 330 by Attorneys in Larger
Chapter 11 Cases, which became effective on November 1, 2013, Ms.
Levine attested that:

     (a) Lowenstein Sandler did not agree to a variation of its
standard and customary billing arrangements for the engagement;

     (b) Lowenstein Sandler's professionals included in the
engagement have not varied their rates based on the geographic
location of these Chapter 11 Cases;

     (c) Lowenstein Sandler did not represent the Committee prior
to the Petition Date; and

     (d) The Committee has approved Lowenstein Sandler's proposed
hourly billing rates and initial budget.

In accordance with the U.S. Trustee Guidelines, the budget may be
amended as necessary to reflect changed or unanticipated
developments in these Chapter 11 Cases.

By separate application, the Committee is seeking to retain Womble
Carlyle Sandridge & Rice LLP to serve as its Delaware co-counsel.
Lowenstein Sandler has discussed the division of responsibilities
with co-counsel and will make every effort to avoid duplication of
efforts in connection with these Chapter 11 Cases.
         
Lowenstein Sandler can be reached at:

     Sharon L. Levine, Esq.
     Paul Kizel, Esq.
     LOWENSTEIN SANDLER LLP
     65 Livingston Avenue
     Roseland, NJ 07068
     Telephone: (973) 597-2374
     Facsimile: (973) 597-2375
     E-mail: slevine@lowenstein.com
             pkizel@lowenstein.com

          - and -

     Kenneth A. Rosen, Esq.
     Eric Chafetz, Esq.
     LOWENSTEIN SANDLER LLP
     1251 Avenue of the Americas
     New York, NY 10020
     Telephone: (212) 262-6700
     Facsimile: (212) 262-7402
     E-mail: krosen@lowenstein.com
             echafetz@lowenstein.com

                    About Verso Corporation



Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.



Verso Corporation and 26 of its affiliates, including
NewPage
Corporation, filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10163 to 16-10189, respectively) on
Jan. 26, 2016. The petitions were signed by David Paterson, the
president and CEO.



The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.



The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing
agent.

The U.S. Trustee for Region 3 has appointed seven creditors of

Verso Corp. and its affiliates to serve on the official committee
of unsecured creditors.


VERSO CORP: Hires Deloitte & Touche as Independent Auditor
----------------------------------------------------------
Verso Corporation and its debtor-affiliates sought and obtained
permission from the U.S. Bankruptcy Court for the District of
Delaware to employ Deloitte & Touche LLP as independent auditor,
nunc pro tunc to January 26, 2016.

The Debtors require Deloitte & Touche to:

     a. perform an integrated audit in accordance with the
standards of the Public Company Accounting Oversight Board (PCAOB)
)United State) which includes the preparation of opinion on the
fairness of the presentation of the Debtors' consolidated financial
statements for the year ending December 31, 2015, in conformity
with accounting principles generally accepted in the U.S., in all
material respects.

     b. report on the Debtors' compliance with certain terms,
covenants, provisions, or conditions of certain agreements,
including the credit agreement dated May 4, 2012 with Credit
Suisse, insofar as such terms relate to accounting matters   

Deloitte & Touche will be paid at these hourly rates:

  (A) Out of Scope Rates for Audit Services:
      
      Partner/ Principal             $350
      Director                       $345
      Senior Manager                 $300
      Manager                        $265
      Senior                         $205
      Staff                          $100-$175

  (B) Out of Scope Rates for Restructuring-Related Accounting
Consultation Services
     
      Partner/ Principal             $350-$700
      Director                       $345-$650
      Senior Manager                 $300-$450
      Manager                        $265-$375
      Senior                         $205-$300
      Staff                          $100-$240

Deloitte & Touche has been paid $2,191,977 by the Debtors for the
services, other than the Out of Scope Services, and expenses
incurred under the Engagement Letter. However, the Debtors' have
determined that they do not need Deloitte & Touche to provide an
opinion on the effectiveness of the Debtors' internal control over
financial reporting. Deloitte & Touche will charge the Debtors' a
fixed fee of $350,000 for the remainder of the audit services under
the Engagement Letter, other than Out of Scope Services.

Deloitte & Touche will also be reimbursed for reasonable
out-of-pocket expenses incurred.

William S. Sullivan, Jr., partner of Deloitte & Touche, 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.

Deloitte & Touche LLP may be reached at:

         William S. Sullivan
         Deloitte & Touche LLP
         550 South Tryon Street, Suite 2500
         Charlotte, N.C. 


                  About Verso Corporation

Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.



Verso Corporation and 26 of its affiliates, including
NewPage
Corporation, filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10163 to 16-10189, respectively) on
Jan. 26, 2016. The petitions were signed by David Paterson, the
president and CEO.



The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.



The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing
agent.



The U.S. Trustee for Region 3 has appointed seven creditors of

Verso Corp. and its affiliates to serve on the official committee
of unsecured creditors.


VERSO CORP: Hires Deloitte for Tax Services
-------------------------------------------
Verso Corporation and its debtor-affiliates sought and obtained
permission from the U.S. Bankruptcy Court for the District of
Delaware to employ Deloitte Tax LLP to provide tax-related
services, nunc pro tunc to January 26, 2016.

The Debtors require Deloitte Tax to:

     a. perform tax advisory services pursuant to the Tax Advisory
Engagement Letter and the executed Work Orders entered into
thereunder, including the following:         

        -- pursuant to Work Order 15-0001, assist the Debtors in
providing consultation and modeling services with respect to the
application of Internal Revenue Code ("IRC") section 382, i.e.,
analyses regarding limitations on the ability to utilize
attributes, such as net operating losses and credits, following an
ownership change, in connection with the acquisition on NewPage
Holdings, Inc.; and

        -- pursuant to Work Order 15-0002, assist the Debtors in
estimating the new taxability reporting percentages for expense
purchases using stratified sampling methodology procedures made by
certain locations; and assist with tax reporting procedures or
percentages for these transactions;  and assist with training the
Debtors on the new taxability reporting procedures to mill
purchasing personnel.

     b. perform services pursuant to the Tax Restructuring
Engagement Letter, including;

        -- advise the Debtors on the cash tax effects of
restructuring and bankruptcy and the post-restructuring to profile,
including plan of reorganization tax costs;

        -- advise the Debtors regarding the restructuring and
bankruptcy emergence process from a tax perspective, including a
tax work plan;

        -- advise the Debtors on the cancellation of debt income
for tax purposes under IRC section 108;

        -- advise the Debtors on post-bankruptcy tax attributes
(e.g., tax basis in assets, tax basis in subsidiary stock and net
operating loss carryovers) available under the applicable tax
regulations and the reduction of such attributes based on the
Debtors' operating projections, including a technical analysis of
the effects of Treasury Regulation section 1.1502-28 and the
interplay with IRC sections 108 and 1017;

        -- advise the Debtors on the potential effects of the
alternative minimum tax in various post-emergence scenarios;

        -- advise the Debtors on the effects of tax rules under IRC
sections 382(1)(5) and (1)(6) pertaining to the post-bankruptcy net
operating loss carryovers and limitations on their utilization and
the Debtors' ability to quality for IRC section 382(1)(5);  

        -- advise the Debtors on net built-in gain or net built-in
loss position at the time of "ownership change" (as defined under
IRC section 382), including limitations on use of tax losses
generated from post-restructuring or post-bankruptcy asset or stock
sales;

        -- advise the Debtors as to the treatment of postpetition
interest for state and federal income tax purposes;

        -- advise the Debtors in their evaluation and modeling of
the tax effects of liquidating, disposing of assets, merging or
converting entities as part of the restructuring, including the
effects on federal and state tax attributes, state incentives,
apportionment and other tax planning;

        -- advise the Debtors on state income tax treatment and
planning for restructuring or bankruptcy provisions in various
jurisdictions, including cancellation of indebtedness calculation,
adjustments to tax attributes and limitations on tax attribute
utilization;

        -- advise the Debtors on responding to tax notices and
audits from various taxing authorities;

        -- advise the Debtors on income tax return reporting of
bankruptcy issues and related matters;

        -- advise the Debtors in their review and analysis of the
tax treatment of items adjusted for financial reporting purposes as
a result of "fresh start" accounting as required for the emergence
date of the U.S. financial statements in an effort to identify the
appropriate tax treatment of adjustments to equity (including
issuance of new equity, options, and/or warrants), and other tax
basis adjustments to assets and liabilities recorded;

        -- assist the Debtors in documenting, as appropriate, the
tax analysis, the development of the Debtors' opinions,
recommendations, observations, and correspondence for any proposed
restructuring alternative tax issue, or other tax matter
described;

        -- advise the Debtors regarding other state or federal
income tax questions that may arise in the course of this
engagement, as requested by the Debtors, and as may be agreed to by
Deloitte Tax;

        -- advise the Debtors with their efforts to calculate the
tax basis in the stock in each of the Debtors' subsidiaries or
other entity interests; and

        -- assist the Debtors with their identification and
analysis of tax positions in the context of the cases, and, if
applicable, advise the Debtors regarding those positions for which
the Debtors or Deloitte Tax could be subject to potential
penalties, the opportunity to avoid such penalties through adequate
disclosure, if relevant, and the requirements for adequate
disclosure.        

Deloitte Tax will be paid at these hourly rates:

   (A) for Services rendered for Non-Specialist pursuant to the
terms of Work order 15-0001 and 15-0002 under the Tax Advisory
Engagement Letter, and pursuant to the terms of Tax Restructuring
Engagement Letter:

   Partner, Principal, or Director - National     N/A
   Partner, Principal, or Director                $580
   Senior Manager                                 $510
   Manager                                        $440
   Senior                                         $360
   Staff                                          $295

   (B) for Services rendered for Specialist pursuant to the terms
of Work order 15-0001 and 15-0002 under the Tax Advisory Engagement
Letter, and pursuant to the terms of Tax Restructuring Engagement
Letter:

   Partner, Principal, or Director - National     $810
   Partner, Principal, or Director                $740
   Senior Manager                                 $660
   Manager                                        $565
   Senior                                         $470
   Staff                                          $370

Deloitte Tax provided prepetition services to the Debtors. As of
the Petition Date, $21,645 was outstanding with respect to certain
invoices issued by Deloitte Tax. Contingent upon approval of the
firm's retention, Deloitte Tax will agree to not seek any recovery
on account of this prepetition amount owed to it by the Debtors.

The Debtors paid Deloitte Tax $65,000, including amounts in the
form of a retainer, in the 90 days prior to the Petition date. As
of the Petition date, approximately $6,000 of the retainer amounts
remained outstanding. Deloitte Tax's use of the remaining retainer
amounts is contingent on the court's approval of this application,
and an applicable fee application.

Christopher S. Houser., partner of Deloitte Tax, 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.

Deloitte Tax may be reached at:

        Christopher S. Houser
        Deloitte Tax LLP
        250 East Fifth Street, Suite 1900
        Cincinnati, OH 45202
        Telephone: (513)723-3022

                   About Verso Corporation



Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.



Verso Corporation and 26 of its affiliates, including
NewPage
Corporation, filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10163 to 16-10189, respectively) on
Jan. 26, 2016. The petitions were signed by David Paterson, the
president and CEO.



The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.



The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing
agent.



The U.S. Trustee for Region 3 has appointed seven creditors of

Verso Corp. and its affiliates to serve on the official
committee of unsecured creditors.


VERSO CORP: Hires Morgan Lewis & Bockius as M&A Counsel
-------------------------------------------------------
Verso Corporation and its debtor-affiliates seek permission from
the U.S. Bankruptcy Court for the District of Delaware to employ
Morgan, Lewis & Bockius LLP as special mergers and acquisitions
counsel in connection with the potential sale of any paper mill and
other similar transactional matters, nunc pro tunc to January 26,
2016.

The Debtors require Morgan Lewis:

     a. provide antitrust and mergers and acquisitions advice and
assistance;

     b. facilitate the Debtors' preparation for due diligence
investigations to be conducted by potential purchasers;

     c. coordinate with the Debtors' and their investment banking
professionals on auction processes;

     d. lead negotiations with multiple potential purchasers  and
any stalking horse bidder;

     e. prepare an asset purchase agreement and related documents;

     f. assist the Debtors' in consummating the transaction;

     g. coordinate with OMM on related motion practice as may be
necessary; and

     h. perform other services as are normally associated with the
above matters.

Morgan Lewis will be paid at these hourly rates:

       Partners                 $575-$1,295
       Of Counsel               $480-$1,250
       Associates               $290-$815
       Paraprofessionals        $150-$415

Morgan, Lewis & Bockius LLP will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Morgan Lewis has represented the Debtors in connection with
antitrust matters. In that capacity, in the year prior to the
Petition date, Morgan Lewis received a total of $3,016,590 in fees
and expenses from the Debtors, $727,224.23 of which was received
during the 90 days immediately preceding the petition date.
Additionally, as of the petition date, Morgan Lewis had $26,197 in
unbilled fees.

Timothy Maxwell, a partner Morgan, Lewis & Bockius LLP, assured the
Court that Morgan Lewis does not represent or hold any interest
that is adverse to the Debtors or their estates with respect to the
M&A Counsel Matters.

The firm may be reached at:

       Timothy Maxwell, Esq.
       MORGAN, LEWIS & BOCKIUS LLP
       1701 Market Street
       Philadelphia, PA 19103
       Telephone: (215)963-5000

                About Verso Corporation



Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.



Verso Corporation and 26 of its affiliates, including
NewPage
Corporation, filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10163 to 16-10189, respectively) on
Jan. 26, 2016. The petitions were signed by David Paterson, the
president and CEO.



The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.



The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing
agent.



The U.S. Trustee for Region 3 has appointed seven creditors of
Verso Corp. and its affiliates to serve on the official committee
of unsecured creditors.


VICTORY CAPITAL: Moody's Affirms B2 Rating, Outlook Positive
------------------------------------------------------------
Moody's Investors Service has affirmed B2 rating of Victory Capital
Holdings, Inc.'s.  Moody's has also assigned a B2-PD probability of
default rating.  The outlook is positive.

                         RATINGS RATIONALE

The change in outlook to positive reflects the successful
integration of recent acquisitions and the additional scale and
diversification benefits that will accrue to Victory from the
acquisition of RS Investment Management Co. LLC ("RS", unrated), a
$17 billion equity asset manager.  RS provides Victory with new
capabilities in fixed income, emerging and international markets,
and natural resources equity management.  The outlook change also
reflects a positive trend in net client flows and our expectation
that Victory will be able to achieve material cost savings
synergies following the acquisition.  These positives are tempered
by the potential for integration risk, an increase in leverage as a
portion of the purchase price will be funded with incremental debt
and muted organic growth within the company's existing affiliates.

Victory is projected to have about $50 billion in assets under
management and advisement when it completes its purchase of RS.
Although the combined firm increases Victory's scale, the company
remains small in the context of Moody's rated universe of asset
managers.  At the close of the transaction (Q2 2016), the firm is
expected to have over 300 employees, approximately half of whom are
investment staff.

The rating agency said that the following factors could lead to an
upgrade: 1) reversal of gross client redemptions leading to net
client inflows exceeding 3% a year; 2) accelerated business
development with new clients; successful launches of unique,
prudent, alpha-generative investment products; 3) achieving a lower
cost structure that materially increases pre-tax income margins;
and 4) leverage (debt/EBITDA) sustained below 2.5x.

Alternatively, the ratings could move back to stable if there are:
1) sustained net client redemptions exceeding 15% of firm AUM per
annum; 2) departure of key staff; and 3) leverage moves above
5.5x.

These long-term ratings were affirmed with a positive outlook:

Victory Capital Holdings, Inc.:

  Corporate Family Rating -- B2
  Revolving Credit Facility - B2
  Senior Secured Term Loan -- B2

Victory is a multi-boutique asset manager headquartered in
Cleveland, Ohio.  At year-end 2015, the company reported AUM of $33
billion and total revenues of $241 million.

The principal methodology used in these ratings was Asset Managers:
Traditional and Alternative published in December 2015.


VRINGO INC: KPMG Expresses Going Concern Doubt
----------------------------------------------
KPMG LLP in New York audited the consolidated balance sheet of
Vringo, Inc. and subsidiaries as of December 31, 2014, and the
related consolidated statements of operations, stockholders'
equity, and cash flows for the year then ended.  KPMG noted that
the Company has suffered recurring losses from operations and
negative cash flows from operating activities and may not have
sufficient cash or available sources of liquidity to support
operating requirements that raises substantial doubt about its
ability to continue as a going concern.

In its 2015 Annual Report on Form 10-K filed with the Securities
and Exchange Commission, the Company posted a net loss of
$11,258,000 for the fiscal year ended Dec. 31, 2015, from a net
loss of $109,677,000 for 2014.

As of December 31, 2015, it had a cash balance of $24,951,000 and
deposit with courts, which are included in current assets, of
$1,930,000. In February 2016, $1,279,000 of the deposits with
courts were repaid to the Company. The Company's average monthly
cash spent in operations, including the revenue, for the years
ended December 31, 2015 and 2014 was approximately $214,000 and
$2,365,000, respectively.

On May 4, 2015, the Company entered into a securities purchase
agreement with certain institutional investors in a registered
direct offering of $12,500,000 of Notes and warrants to purchase up
to 537,500 shares of the Company's common stock, which are
exercisable at $10.00 per share for a period of five years. The
Notes are repaid monthly in cash or shares at the election of the
Company. The total amount of principal outstanding under the Notes
was $4,206,000 as of December 31, 2015.

A copy of the Company's SEC Report is available at
http://is.gd/2p5Apd

Vringo, Inc. is engaged in the innovation, development and
monetization of intellectual property, as well as the
commercialization and distribution of wire-free power and rugged
computing devices.

At Dec. 31, 2015, the Company had total assets of $50,532,000
against total current liabilities of $9,214,000, and long-term
liabilities of $802,000 and total stockholders’ equity of
$40,516,000.


[*] Global Speculative-Default to Rise to 4.6%, Moody's Says
------------------------------------------------------------
Moody's Investors Service estimates the global speculative-default
rate will rise to 4.6% in one year from the current 3.8% level,
reaffirming the view that the corporate default cycle has turned
and is on the rise.

Moody's also forecasts that the global speculative-default rate
will reach 4.3% in the next quarter, surpassing its long-term
average for the first time since August 2010.

Stress in the commodity sector has deepened, leading to a further
deterioration in credit conditions, with Oil & Gas and Metals &
Mining leading the rise in the default rate.

"Thirty-three Moody's-rated issuers have defaulted in the first
quarter, roughly two thirds of which were from Oil & Gas and Metals
& Mining," noted Sharon Ou, a Moody's Vice President -- Senior
Credit Officer.  As a result, the trailing 12-month global
speculative-grade default rate rose to 3.8% in the first quarter
from 3.5% in the prior quarter, an increase of more than 70% from
the global speculative-grade default rate of 2.2% in the first
quarter of 2015.

Moody's says these two sectors' default rates are very likely to
remain at significantly high levels in the coming year -- 12.6% for
Metals & Mining and 10.0% for Oil & Gas for Moody's-rated issuers
in the US.  In Europe, default rates are expected to be highest for
Oil & Gas and Media: Advertising, Printing & Publishing, according
to the report "Global speculative-grade default rate to surpass
historical average in second quarter."

The most recent defaults included instances of missed interest
payments, as in the case of Foresight Energy LLC and Venoco Inc.,
distressed exchanges, such as with Rex Energy Corporation and
Cliffs Natural Resources Inc., and Southcross Holdings Borrower
LP’s prepackaged Chapter 11 filing.  Each issuer defaulted on
more than $500 million in debt.

Thirteen of the 18 leveraged loan defaults in the first quarter
were from the US, pushing the issuer-weighted US loan default rate
to 2.8% in the first quarter compared with 2.0% in the prior
quarter.

The report is available to Moody's subscribers at:

                 http://bit.ly/22tadlW



                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
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