TCR_Public/160414.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Thursday, April 14, 2016, Vol. 20, No. 105

                            Headlines

ABRAXAS PETROLEUM: Egan-Jones Cuts Commercial Paper Rating to C
ACTIVECARE INC: Tonaquint, et al., Report 6.6% Stake as of April 11
ACTUANT CORP: Egan-Jones Cuts Sr. Unsecured Rating to BB-
AIR CANADA: Egan-Jones Cuts LC Commercial Paper Rating to B
ALLEN COUNTY, OH: S&P Lowers Rating on 2007 Rev. Bonds to B+

ALLY FINANCIAL: DBRS Rates $600MM Notes Due 2021 'BB(high)'
ALLY FINANCIAL: Inks Underwriting Agreement for $300-Mil. Notes
ALLY FINANCIAL: Signs Underwriting Agreement for $600-Mil. Notes
ALONSO & CARUS: Applies for Final Decree Closing Case
ALPHA NATURAL: Rice Enters Asset Purchase Agreement with Unit

ALROSE KING: Hires Foley & Lardner as Bankruptcy Counsel
ARCHROCK INC: Egan-Jones Cuts Sr. Unsecured Rating to B- From B
ARMCO METALS: Receives NYSE Listing Non-Compliance Notice
ART AND ARCHITECTURE: Landlord Loses Bid to Compel Payments
ASPECT SOFTWARE: Final Order Authorizing DIP Financing Entered

ASPECT SOFTWARE: Proposes to Set Claims Bar Dates
AURORA DIAGNOSTICS: Moody's Lowers CFR to Caa3, Outlook Stable
BH SUTTON: Hires CohnReznick as Accountants and Advisors
BLUEBERRY TWIST: Case Summary & 14 Unsecured Creditors
CAESARS ENTERTAINMENT: Amends Employment Agreement with Executive

CARDIAC SCIENCE: Krugman Partners Provides Governance Service
CATASYS INC: Files Copy of Investor Presentation with SEC
CENTRAL BEEF: Hires Barnett Bolt as Special Counsel
CENTRAL BEEF: Hires Stichter Riedel as Bankruptcy Counsel
CIENA CORP: S&P Raises CCR to 'B+' on Improved Credit Metrics

CIENA CORPORATION: Moody's Raises CFR to B1, Outlook Stable
CLIFFS NATURAL: S&P Lowers CCR to 'SD' on Distressed Exchange
COLUCCI TILE: Case Summary & 20 Largest Unsecured Creditors
CORRECTIONS CORP: Fitch Affirms 'BB+' Issuer-Default Rating
CTI BIOPHARMA: FMR LLC Reports 8.76% Equity Stake as of April 8

DAIICHI CHOU: Japanese Case Recognized as Foreign Main Proceeding
DIGITAL REALTY: Fitch Currently Rates Preferred Stock at 'BB+'
EAST ORANGE: Trenk Dipasquale Approved as Committee's Co-Counsel
EASTERN LIVESTOCK: Kitchens Loses Bid to Dismiss Trustee's Suit
EFRON DORADO SE: Court Set to Hear Bid to Use Cash Collateral

EMERALD ACQUISITION: Moody's Assigns Ba2 CFR, Outlook Stable
EMERALD ACQUISITION: S&P Assigns 'BB' ICR, Outlook Stable
FORESIGHT ENERGY: In Talks with Bondholders to Avoid Bankruptcy
FOREST PARK: Court Set to Hear Bid to Assume Management Deal
FREESEAS INC: Three Proposals Approved at Meeting of Shareholders

FTE NETWORKS: Posts $526,000 Net Income for Dec. 31 Quarter
FUTUREWORLD CORP: Typenex, et al., Report 9.9% Stake as of April 11
GENENEWS LTD: OSC Grants Management Cease Trade Order
GENERAL CABLE: Egan-Jones Cuts FC Senior Unsecured Rating to B
GENESIS HEALTHCARE: S&P Affirms 'BB+' Rating on $295MM Bonds

GOODRICH PETROLEUM: Exchange Offers Fail to Meet Threshold
GOODRICH PETROLEUM: S&P Lowers CCR to 'D' on Ch. 11 Filing
HAGGEN HOLDINGS: Wants Authority to Monetize Propco Assets
HARBORVIEW TOWERS COUNCIL: Hires Rees Broome as Special Counsel
HARBORVIEW TOWERS COUNCIL: Howard Bank Wants Adequate Protection

HARBORVIEW TOWERS COUNCIL: Penthouse 4C Asks for Case Dismissal
HARRINGTON MACHINE: Case Summary & 20 Largest Unsecured Creditors
HATTIESBURG PSD: Moody's Lowers GO Rating to Ba2, Outlook Negative
HORSEHEAD HOLDING: DIP Milestone Deadlines Extension Sought
HORSEHEAD HOLDING: Equity Committee Appointment Sought

HOVNANIAN ENTERPRISES: Egan-Jones Cuts Sr. Unsec. Rating to CCC
IMMUCOR INC: Incurs $8.66 Million Net Loss in Third Quarter
INNOVATION VENTURES: S&P Raises CCR to 'B' on Debt Repayment
INTERNATIONAL BRIDGE: Seeks June 30 Plan Exclusivity Extension
INTERPARK INVESTORS: Court Issues Final Cash Collateral Order

KLD ENERGY: Seeks Approval of $2.5-Mil. DIP Loan
LAND O'LAKES: Fitch Hikes Preferred Stock Rating to 'BB'
LIFE CARE: Asks Court to Authorize Cash Collateral Use
LIFE CARE: Seeks Court Approval of Bidding Procedures
LIFE CARE: Seeks Entry of Final Decree Closing Case

LIFE CARE: Wants to Sell Real Estate to LCS for $450,000
MACROCURE LTD: Receives NASDAQ Bid Price Non-Compliance Notice
MARIAH FARMS: Case Summary & 12 Unsecured Creditors
MEDICINE RIVER: Voluntary Chapter 11 Case Summary
MICHAELS STORES: Egan-Jones Hikes FC Sr. Unsec. Rating From B-

NATHAN INTERMEDIATE: S&P Assigns 'B' CCR & Rates $445MM Loans 'B+'
NATIONAL CINEMEDIA: Files Post-Effective Amendment to Form S-3
NATIONSTAR MORTGAGE: S&P Affirms 'B+' Rating on Sr. Unsec. Notes
NEPHROS INC: FDA Completes Evaluation of Corrective Actions
NORTH-SOUTH ENTITY: Hires Hendren Redwine as Bankruptcy Counsel

PACIFIC EXPLORATION: Still Working With Creditors on Restructuring
PALMAZ SCIENTIFIC: Taps Haynes & Boone Over SEC Probe
PARS PROPERTIES: U.S. Trustee Unable to Appoint Committee
PEABODY ENERGY: Case Summary & 50 Largest Unsecured Creditors
PEABODY ENERGY: Files Voluntary Chapter 11 Bankruptcy Petition

PEABODY ENERGY: Receivables Purchase Agreement Revised Amid Ch.11
PEABODY ENERGY: Sale of Mine Assets to Bowie Resources Cancelled
PEABODY ENERGY: To Trade on Pink Sheets After NYSE Suspension
PETROLEUM PRODUCTS: Creditor's Panel Hires Fisher as Counsel
PETROLEUM PRODUCTS: Hires Hoover Slovacek as Bankruptcy Counsel

PETROMAROC CORP: Enters Into Waiver Agreement with Debtholders
PHARMATHENE INC: Court OKs Reorganization Plan, Exits Chapter 11
POPEXPERT INC: Case Summary & 20 Largest Unsecured Creditors
PROGRESSIVE SOLUTIONS: S&P Raises CCR to 'BB' Then Withdraws
QUANTUM FUEL: Sec. 341(a) Meeting of Creditors on April 28

QUANTUM FUEL: U.S. Trustee Forms 7-Member Committee
R & S ST. ROSE: U.S. Trustee Wants Case Converted or Dismissed
RAILYARD COMPANY: Court Directs Appointment of Chapter 11 Trustee
RAILYARD COMPANY: Thorofare Opposes Use of Cash Collateral
RANCH ASSOCIATES: Voluntary Chapter 11 Case Summary

RCS CAPITAL: Cetera Debtors Propose May 2 Confirmation Hearing
RUSSELL INVESTMENT: S&P Withdraws BB Issuer Credit Rating
RUSSELL INVESTMENTS: Fitch Assigns 'BB' LT Issuer Default Rating
RYCKMAN CREEK: Proposes July 7 Plan Confirmation Hearing
S-3 PUMP: Wants to Secure Indebtedness to Fund Fuel Purchases

SALESFORCE.COM INC: Egan-Jones Hikes FC Sr. Unsecured Rating to B
SARATOGA RESOURCES: Files 363 Sale Motion, May 5 Hearing Set
SBMC HEALTHCARE: Malpractice Suit vs. JDKG Remanded to Bankr. Court
SCIO DIAMOND: Reports Full Production Restoration
SDI SOLUTIONS: Hires DLA Piper as Bankruptcy Counsel

SH 130 CONCESSION: Final Cash Collateral Use Order Entered
SIGA TECHNOLOGIES: Exits Chapter 11 Bankruptcy Protection
SPORTS AUTHORITY: Hires Irell & Manella as Special Counsel
SPX CORP: Egan-Jones Lowers Sr. Unsecured Rating to BB+
STONE ENERGY: Putnam Investments Reports 1% Stake as of March 31

TECK RESOURCE: Egan-Jones Assigns BB- FC Sr. Unsec. Debt Rating
TEXAS REGENCY: Seeks Approval of $10.6-Mil. Regency Square Sale
TRAVELPORT WORLDWIDE: May Issue 499,086 shares Under Plan
VALEANT PHARMA: Receives Default Notice Due to Delayed 10-K Filing
VALEANT PHARMACEUTICALS: Defaults Under 2012 Credit Pact Waived

VALENCIA COLLEGE: U.S. Trustee Unable to Appoint Committee
VENOCO INC: May 16 Hearing on Disclosure Statement Approval
VERSO CORP: Gets Court Approval for CRCC Agreement
VERSO CORP: May 9 Hearing on Disclosure Statement Approval
VERSO CORPORATION: Hires PwC as Accounting Services Provider

VERSO CORPORATION: Taps Hilco Valuation as Appraiser
VERTELLUS SPECIALTIES: S&P Lowers CCR to 'D' on Missed Payment
VICTORY ENERGY: Hires New Interim Chief Financial Officer
VICTORY ENERGY: Reports Fiscal 2015 Financial Results
VOYA FINANCIAL: Fitch Affirms 'BB+' Jr. Subordinated Debt Rating

WHIRLWIND FARMS: Case Summary & 9 Unsecured Creditors
WHITING PETROLEUM: FMR Reports 13.67% Stake as of April 8
[*] Villere & Co. Obtains Favorable Ruling in Case v. Epiq Systems
[^] Recent Small-Dollar & Individual Chapter 11 Filings

                            *********

ABRAXAS PETROLEUM: Egan-Jones Cuts Commercial Paper Rating to C
---------------------------------------------------------------
Egan-Jones Ratings Company lowered rating on commercial paper
issued by Abraxas Petroleum Corp. to C from B on March 24, 2016.
EJR lowered the local currency senior unsecured debt rating to CCC
from CCC+ and the foreign currency senior unsecured debt rating to
CCC from B.

Based in San Antonio, Texas, Abraxas Petroleum Corporation, an
independent energy company, engages in the acquisition,
exploitation, development, and production of oil and gas properties
in the United States.



ACTIVECARE INC: Tonaquint, et al., Report 6.6% Stake as of April 11
-------------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Tonaquint, Inc., Utah Resources International, Inc.,
Inter-Mountain Capital I, Inc., JFV Holdings, Inc., and John M Fife
reported that as of April 11, 2016, they beneficially own 5,208,894
shares of common stock of ActiveCare, Inc., representing 6.64
percent of the shares outstanding.  A copy of the regulatory filing
is available for free at http://is.gd/ngjtP1

                       About ActiveCare

South West Valley City, Utah-based ActiveCare, Inc., is organized
into three business segments based primarily on the nature of the
Company's products.  The Stains and Reagents segment is engaged in
the business of manufacturing and marketing medical diagnostic
stains, solutions and related equipment to hospitals and medical
testing labs.  The CareServices segment is engaged in the business
of developing, distributing and marketing mobile health monitoring
and concierge services to distributors and customers.  The Chronic
Illness Monitoring segment is primarily engaged in the monitoring
of diabetic patients on a real time basis.

The Company's business plan is to develop and market products for
monitoring the health of and providing assistance to mobile and
homebound seniors and the chronically ill, including those who may
require a personal assistant to check on them during the day to
ensure their safety and well being.

ActiveCare reported a net loss attributable to common stockholders
of $12.8 million on $6.59 million of chronic illness monitoring
revenues for the year ended Sept. 30, 2015, compared with a net
loss attributable to common stockholders of $16.4 million on $6.10
million of chronic illness monitoring revenues for the year ended
Sept. 30, 2014.

As of Dec. 31, 2015, the Company had $2.44 million in total assets,
$12.8 million in total liabilities and a total stockholders'
deficit of $10.4 million.

Tanner LLC, in Salt Lake City, Utah, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Sept. 30, 2015, citing that the Company has recurring losses,
negative cash flows from operating activities, negative working
capital, negative total equity, and certain debt that is in
default.  These conditions, among others, raise substantial doubt
about its ability to continue as a going concern.


ACTUANT CORP: Egan-Jones Cuts Sr. Unsecured Rating to BB-
---------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured rating on
debt issued by Actuant Corp to BB+ from BBB- on March 28, 2016.

Headquartered in Menomonee Falls, Wisconsin, Actuant Corp.
manufactures and markets industrial products and systems
worldwide.



AIR CANADA: Egan-Jones Cuts LC Commercial Paper Rating to B
-----------------------------------------------------------
Egan-Jones Ratings Company lowered the local currency commercial
paper rating on Air Canada to B from A3 on March 28, 2016.

Air Canada is the flag carrier and largest airline of Canada. The
airline, founded in 1937, provides scheduled and charter air
transport for passengers and cargo to 182 destinations worldwide.



ALLEN COUNTY, OH: S&P Lowers Rating on 2007 Rev. Bonds to B+
------------------------------------------------------------
Standard & Poor's Ratings Services lowered its ratings on Thomaston
Housing Authority, Ga.'s series 2004 multifamily housing revenue
bonds (the Fairview apartments project) one notch to 'B+' from
'BB-' and Allen County, Ohio's series 2007 health care facilities
revenue bonds (the Ginnie Mae-collateralized Lockhaven apartments
project) four notches to 'B+' from 'BBB-'.  The outlooks are
stable.

At the same time, the rating service affirmed its 'BB+' rating,
with a stable outlook, on Louisiana Housing Finance Agency's series
2005 multifamily housing revenue bonds (the Peppermill I & II
apartments project), issued for Sunquest Properties Inc., and its
'BB-' rating, with a stable outlook, on Newnan Housing Authority,
Ga.'s series 2005 multifamily housing revenue bonds (the Eastgate
apartments project).

"In the event market conditions were to improve, increasing
investment revenue, we could raise the ratings," said Standard &
Poor's credit analyst Renee Berson.  "Conversely, if market
conditions were to deteriorate, we could lower the ratings."

The stable outlooks reflect Standard & Poor's opinion that the
issues are susceptible to short-term, market-rate investment income
but that the issues should perform within the 'BBB-' to 'B+' range.


ALLY FINANCIAL: DBRS Rates $600MM Notes Due 2021 'BB(high)'
-----------------------------------------------------------
DBRS, Inc. assigned a rating of BB (high) to the $600 million 4.25%
Senior Notes due April 2021 issued by Ally Financial, Inc. (Ally or
the Company). Also, DBRS has assigned a rating of BB to the $300
million 5.75% Subordinated Notes due November 2025 issued by Ally.
The trend on each note issuance is Positive. The proceeds from the
notes will be included in the general funds of Ally and available
for general corporate purposes, including the potential redemption
of the Company's Perpetual Preferred Stock, Series A.


ALLY FINANCIAL: Inks Underwriting Agreement for $300-Mil. Notes
---------------------------------------------------------------
Ally Financial Inc. disclosed in a Form 8-K report filed with the
Securities and Exchange Commission that on April 6, 2016, entered
into an Underwriting Agreement incorporating Ally’s Underwriting
Agreement Standard Provisions (Debt Securities) with Barclays
Capital Inc., Citigroup Global Markets Inc., Deutsche Bank
Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated
and RBC Capital Markets, LLC, as representatives of the several
Underwriters named therein, pursuant to which Ally agreed to sell
to the Underwriters an additional $300,000,000 aggregate principal
amount of its 5.750% Subordinated Notes due 2025.  Ally previously
issued $750,000,000 aggregate principal amount of the Notes on Nov.
20, 2015.  The Notes were registered pursuant to Ally's shelf
registration statement on Form S-3 (File No. 333-193070), which
became automatically effective on Dec. 24, 2013.

The Underwriting Agreement contains customary representations,
warranties and covenants of the Company, conditions to closing,
indemnification obligations of the Company and the Underwriters,
and termination and other customary provisions.

The Notes will be issued pursuant to an Indenture dated as of
Nov. 20, 2015, between the Company and The Bank of New York Mellon,
as trustee, and an action of the executive committee of Ally dated
as of April 6, 2016.

                      About Ally Financial

Ally Financial Inc., formerly GMAC Inc. -- http://www.ally.com/--
is one of the world's largest automotive financial services
companies.  The Company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3 percent stake.  Private equity firm Cerberus
Capital Management LP keeps 14.9 percent, while General Motors Co.
owns 6.7 percent.

Ally reported net income of $1.28 billion on $4.86 billion of total
net revenue for the year ended Dec. 31, 2015, compared to net
income of $1.15 billion on $4.65 billion of total net revenue for
the year ended Dec. 31, 2014.  As of Dec. 31, 2015, the Company had
$158.58 billion in total assets, $145.14 billion in total
liabilities and $13.43 billion in total equity.

                           *     *     *

As reported by the TCR on Dec. 16, 2013, Standard & Poor's Ratings
Services said it raised its issuer credit rating on Ally Financial
Inc. to 'BB' from 'B+'.  "The upgrade reflects the company's
release from potential legal and financial liabilities stemming
from its ownership of ResCap," said Standard & Poor's credit
analyst Tom Connell.

In the April 3, 2014, edition of the TCR, Fitch Ratings has
upgraded Ally Financial Inc.'s long-term Issuer Default Rating
(IDR) and senior unsecured debt rating to 'BB+' from 'BB'.
The rating upgrade reflects increased clarity around Ally's
ownership structure given Ally's recent announcement that it has
launched an initial public offering those shares of its common
stock held by the U.S. Treasury (the Treasury).

As reported by the TCR on July 16, 2014, Moody's Investors Service
affirmed the 'Ba3' corporate family and 'B1' senior unsecured
ratings of Ally Financial, Inc. and revised the outlook for the
ratings to positive from stable.  Moody's affirmed Ally's ratings
and revised its rating outlook to positive based on the company's
progress toward sustained improvements in profitability and
repayment of government assistance received during the financial
crisis.


ALLY FINANCIAL: Signs Underwriting Agreement for $600-Mil. Notes
----------------------------------------------------------------
Ally Financial Inc., disclosed in a regulatory filing with the
Securities and Exchange Commission that on April 6, 2016, it
entered into an Underwriting Agreement incorporating Ally's
Underwriting Agreement Standard Provisions (Debt Securities) with
Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank
Securities Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated
and RBC Capital Markets, LLC, as representatives of the several
Underwriters named therein, pursuant to which Ally agreed to sell
to the Underwriters $600,000,000 aggregate principal amount of
4.250% Senior Notes due 2021.  The Notes were registered pursuant
to Ally's shelf registration statement on Form S-3 (File No.
333-193070), which became automatically effective on Dec. 24,
2013.

The Underwriting Agreement contains customary representations,
warranties and covenants of the Company, conditions to closing,
indemnification obligations of the Company and the Underwriters,
and termination and other customary provisions.

The Notes will be issued pursuant to an Indenture dated as of July
1, 1982, as supplemented and amended by the first supplemental
indenture dated as of April 1, 1986, the second supplemental
indenture dated as of June 15, 1987, the third supplemental
indenture dated as of September 30, 1996, the fourth supplemental
indenture dated as of January 1, 1998, and the fifth supplemental
indenture dated as of September 30, 1998 between the Company and
The Bank of New York Mellon (successor to Morgan Guaranty Trust
Company of New York), as trustee, and an action of the executive
committee of Ally dated as of April 6, 2016.

                        About Ally Financial

Ally Financial Inc., formerly GMAC Inc. -- http://www.ally.com/--
is one of the world's largest automotive financial services
companies.  The Company offers a full suite of automotive
financing products and services in key markets around the world.
Ally's other business units include mortgage operations and
commercial finance, and the company's subsidiary, Ally Bank,
offers online retail banking products.  Ally operates as a bank
holding company.

GMAC obtained a $17 billion bailout from the U.S. government in
exchange for a 56.3 percent stake.  Private equity firm Cerberus
Capital Management LP keeps 14.9 percent, while General Motors Co.
owns 6.7 percent.

Ally reported net income of $1.28 billion on $4.86 billion of total
net revenue for the year ended Dec. 31, 2015, compared to net
income of $1.15 billion on $4.65 billion of total net revenue for
the year ended Dec. 31, 2014.  As of Dec. 31, 2015, the Company had
$158.58 billion in total assets, $145.14 billion in total
liabilities and $13.43 billion in total equity.

                           *     *     *

As reported by the TCR on Dec. 16, 2013, Standard & Poor's Ratings
Services said it raised its issuer credit rating on Ally Financial
Inc. to 'BB' from 'B+'.  "The upgrade reflects the company's
release from potential legal and financial liabilities stemming
from its ownership of ResCap," said Standard & Poor's credit
analyst Tom Connell.

In the April 3, 2014, edition of the TCR, Fitch Ratings has
upgraded Ally Financial Inc.'s long-term Issuer Default Rating
(IDR) and senior unsecured debt rating to 'BB+' from 'BB'.
The rating upgrade reflects increased clarity around Ally's
ownership structure given Ally's recent announcement that it has
launched an initial public offering those shares of its common
stock held by the U.S. Treasury (the Treasury).

As reported by the TCR on July 16, 2014, Moody's Investors Service
affirmed the 'Ba3' corporate family and 'B1' senior unsecured
ratings of Ally Financial, Inc. and revised the outlook for the
ratings to positive from stable.  Moody's affirmed Ally's ratings
and revised its rating outlook to positive based on the company's
progress toward sustained improvements in profitability and
repayment of government assistance received during the financial
crisis.


ALONSO & CARUS: Applies for Final Decree Closing Case
-----------------------------------------------------
Alonso & Carus Iron Works, Inc., asks the U.S. Bankruptcy Court for
the District of Puerto Rico for the issuance of a final decree
closing its Chapter 11 case.

The Debtor contends that the Plan has been substantially
consummated and accordingly, the Court can issue a final decree if
no opposition to its application is filed.

Alonso & Carus Iron Works is represented by:

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

                  About Alonso & Carus Iron Works

Alonso & Carus Iron Works, Inc., is the largest integrated
structural steel and tank builder in Puerto Rico.  The Company
provides a full range of design, engineering, construction and
erection services through an innovative, responsive and customer
focused organization.  The Company has participated in the
construction of hundreds of demanding and challenging projects,
including many landmarks in Puerto Rico and the Caribbean that
showcase the superior capabilities of steel.

Alonso & Carus Iron Works sought Chapter 11 protection (Bankr.
D.P.R. Case No. 15-02250) in Old San Juan, Puerto Rico, on March
27, 2015.  The case is assigned to Judge Enrique S. Lamoutte
Inclan.

The Catano, Puerto Rico-based debtor has filed schedules of assets
and liabilities, disclosing $23,028,113 in total assets and
$14,919,146 in total debt.


ALPHA NATURAL: Rice Enters Asset Purchase Agreement with Unit
-------------------------------------------------------------
Rice Energy Inc. on April 12 disclosed that it has entered into a
stalking horse asset purchase agreement ("asset purchase
agreement") with a subsidiary of Alpha Natural Resources, Inc.
("Alpha") to acquire Marcellus and Utica assets in central Greene
County, Pennsylvania for $200 million in cash, subject to purchase
price adjustments.

Pursuant to the terms of the asset purchase agreement, Rice Energy
will acquire leasehold interest in approximately 27,400 net
undeveloped Marcellus acres, plus an additional 3,200 gross acres
owned in fee that are leased to Rice Energy and currently
generating royalty cash flow.  In addition, the aforementioned
acreage includes rights to the deep Utica on 23,500 net acres.

Toby Rice, President and Chief Operating Officer, commented, "This
prospective acreage acquisition is consistent with our strategy of
acquiring core acreage with strong returns, an attractive lease
expiry profile and undedicated midstream.  This core acreage is
directly adjacent to our existing proved developed Marcellus
position in Greene County and increases our inventory of low-risk,
core dry gas Marcellus locations by 37%.  Additionally, the
producing royalty interests and the emerging deep Utica acreage
provide a compelling mix of near-term cash flows and long-term
significant resource potential."

On August 3, 2015, Alpha and certain of its wholly-owned
subsidiaries filed voluntary petitions to reorganize under Chapter
11 of the United States Bankruptcy Code.  Through the chapter 11
proceeding, Alpha is conducting a sale of these assets pursuant to
section 363 of the Bankruptcy Code.  Rice Energy and Alpha intend
for the proposed asset purchase agreement to constitute a "stalking
horse bid" in accordance with the bidding procedures approved by
the bankruptcy court; however, Rice Energy's bid protections, such
as certain break up fees and expense reimbursements, are subject to
court approval.  If Rice Energy's "stalking horse bid" is approved
by the bankruptcy court, Alpha may be required to hold an auction
for these assets before we can consummate the acquisition.
Consummation of the acquisition would be subject to Rice Energy's
being selected as the successful bidder in any such auction and
bankruptcy court approval.

Court documents and additional information are available through
Alpha's claims agent, Kurtzman Carson Consultants LLC, at
https://www.kccllc.net/alpharestructuring

Jones Day, Jackson Kelly PLLC and Hunton & Williams LLP are serving
as Alpha's legal advisors and Rothschild is serving as its
financial advisor.  Vinson & Elkins L.L.P. is serving as Rice
Energy's legal advisor and Lazard is serving as its financial
advisor.

                       About Rice Energy

Rice Energy Inc. -- http://www.riceenergy.com-- is an independent
natural gas and oil company engaged in the acquisition, exploration
and development of natural gas and oil properties in the
Appalachian Basin.

                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.


ALROSE KING: Hires Foley & Lardner as Bankruptcy Counsel
--------------------------------------------------------
Alrose King David LLC, seeks authority from the U.S. Bankruptcy
Court for the Southern District of New York to employ Foley &
Lardner LLP as its counsel, nunc pro tunc to March 4, 2016.

Alrose King requires Foley & Lardner to:

   a. give advice to the Debtor with respect to the Debtor's
      powers and duties as debtor in possession in the continued
      operation of the Debtor's business, including the
      negotiation and finalization of any financing agreements;

   b. assist in identification of assets and liabilities of the
      estate;

   c. assist the Debtor in formulating a plan of reorganization
      and to take necessary legal steps in order to confirm such
      plan, including the preparation and filing of a disclosure
      statement relating thereto;

   d. prepare and file on behalf of the Debtor, all necessary
      applications, motions, orders, reports, adversary
      proceedings and other pleadings and documents;

   e. appear in Court and to protect the interest of the Debtor
      before the Court;

   f. analyze claims and competing property interest, and
      negotiate with creditors and parties-in-interest on behalf
      of the Debtor; and

   g. perform all other legal services for the Debtor which may
      be necessary in these proceedings.

The Debtor's principal, Allen Rosenberg, has paid Foley for its
prepetition services in the amount of $15,000 and personally has
guaranteed payment of Foley's allowed fees and disbursements.

Foley & Lardner will be paid at these hourly rates:

        Attorneys                   $290-$985
        Paraprofessionals           $60-$320
        Barry G. Felder             $960
        Richard J. Bernard          $795
        Alissa M. Nann              $630
        Jennifer Slocum             $335

Foley & Lardner will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Richard J. Bernard, partner of Foley & Lardner 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.

Foley & Lardner can be reached at:

     Richard J. Bernard, Esq.
     Barry G. Felder, Esq.
     Alissa M. Nann, Esq.
     FOLEY & LARDNER LLP
     90 Park Avenue
     New York, NY 10016
     Tel: (212) 682-7474
     Fax: (212) 687-2329
     E-mail: rbernard@foley.com
             bgfelder@foley.com
             anann@foley.com

                       About Alrose King

Alrose King David LLC, owner of a 140-room Allegria Hotel located
at 80 W. Broadway, Long Beach, New York, filed a Chapter 11
bankruptcy petition (Bankr. S.D.N.Y. Case No. 16-10536) on March 4,
2016. The petition was signed by Allen Rosenberg as managing
member. The Debtor estimated both assets and liabilities in the
range of $10 million to $50 million. Foley & Lardner LLP represents
the Debtor as counsel.

This is Alrose King's second bankruptcy filing. In July 2011,
following an action by secured creditor Brooklyn Federal Savings
Bank and other vendors, the Debtor sought protection under Chapter
11 of the Bankruptcy Code in the Eastern District of New York, Case
No. 11-75361.

By order dated June 18, 2012, the Debtor's Plan of Reorganization
was confirmed, and on the same date, Joseph S. Maniscalco, Esq.,
was appointed as the administrator of the AKD Plan. The effective
date of the AKD Plan was June 18, 2012. The EDNY Court issued a
final decree and order closing the First Chapter 11 case on March
18, 2014.

The AKD Plan provides for the establishment of a GUC Distribution
Fund and sets forth a schedule for the funding of the GUC
Distribution Fund. Under the AKD Plan, a total of $2 million was to
be paid into the GUC Distribution Fund by the Debtor, the
Reorganized Debtor, Allegria and Mr. Rosenberg. Pursuant to a
Stipulation and Order dated Feb. 24, 2014, the payment schedule set
forth in the AKD Plan was modified to extend certain of the due
dates and deadlines. Additional extensions were granted by the Plan
Administrator at Mr. Rosenberg's request.

On Oct. 20, 2015, written notice was provided by the Plan
Administrator to the Debtor and Allegria of the default under the
AKD Plan. The Debtor said it failed to cure its default under the
AKD Plan to date.

On Feb. 10, 2016, the Plan Administrator filed his motion to reopen
and convert to Chapter 7 the First Chapter 11 Case. According to
the Motion to Reopen, the Plan Administrator represented that the
sum of $1,809,162 was paid in the GUC Distribution Fund, leaving a
balance owed in the amount of $190,838 plus attorney's fees and
costs. The Motion to Reopen is currently scheduled to be heard
March 23.


ARCHROCK INC: Egan-Jones Cuts Sr. Unsecured Rating to B- From B
---------------------------------------------------------------
Egan-Jones Ratings Company lowered senior unsecured rating on debt
issued by Archrock Inc. to B- from B on March 24, 2016.

Based in Houston, Texas, Archrock, Inc. operates as a natural gas
contract compression services company.



ARMCO METALS: Receives NYSE Listing Non-Compliance Notice
---------------------------------------------------------
Armco Metals Holdings, Inc. on April 11 disclosed that it received
a notice on April 8, 2016 from NYSE Regulation indicating that the
Company is below certain listing standards, as set forth in
Sections 134 and 1101 of the NYSE MKT Company Guide, due to the
delay in filing of its Annual Report on
Form 10-K for the year ended December 31, 2015.  Under the NYSE MKT
guidelines, until Armco files its Form 10-K, its common stock will
remain listed on the NYSE MKT under the symbol AMCO, but will be
assigned an ".LF" indicator to indicate late filing status. Five
business days following the receipt of this noncompliance notice,
Armco will be added to the list of NYSE MKT noncompliant issuers on
the website and the indicator will be disseminated with the
Company's ticker symbol.  The indicator will be removed once the
Company has regained compliance with all applicable listing
standards.

In order to maintain its listing, Armco must submit a plan of
compliance by May 9, 2016 addressing its actions on how it intends
to regain compliance with Sections 134 and 1101 of the NYSE MKT
Company Guide by October 8, 2016.  If the plan is not accepted, or
if it is accepted but the Company is not in compliance with the
continued listing standards by October 8, 2016, or if the Company
does not make progress consistent with its plan, the NYSE MKT will
initiate delisting procedures as appropriate.  The Company intends
to submit a compliance plan on or before the deadline set by the
NYSE MKT.

                 About Armco Metals Holdings, Inc.

Armco Metals Holdings, Inc. -- http://www.armcometals.com-- is
engaged in the sale and distribution of metal ore and non-ferrous
metals, wood, and barley throughout China and is in the recycling
business in China.  Armco Metals' customers include some of the
fastest growing steel producing mills and foundries throughout
China. Raw materials are acquired from a global group of suppliers
located in various countries, including, but not limited to,
Brazil, India, Indonesia, Ukraine and the United States.  Armco
Metals' product lines include ferrous and non-ferrous ore, iron
ore, chrome ore, nickel ore, magnesium, copper ore, manganese ore,
steel billet, recycled scrap metals, raw wood and barley.


ART AND ARCHITECTURE: Landlord Loses Bid to Compel Payments
-----------------------------------------------------------
In an Order dated March 21, 2016, which is available at
http://is.gd/5qlBz3from Leagle.com, Judge Robert Kwan of the
United States Bankruptcy Court for the Central District of
California, Los Angeles Division, denied, without prejudice,
Landlord AERC Desmond's Tower, LLC's Motions -- the (A) Motion to
(1) Compel Immediate Payment by Debtor Art and Architecture Books
of the 21st Century, dba Ace Gallery's of its outstanding
obligations to Landlord; (2) Modify Adequate Protection Order Based
on the Debtor's Contempt of Court and Other Developments Subsequent
to Its Entry; (3) Motion to Compel Payment of Additional Amounts
Due; and (C) Motion for Payment of Attorneys' Fees and Costs
Incurred During the Period October 28, 2014 through May 31, 2015 --
are denied without prejudice.  Judge Kwan also denied, without
prejudice, the Landlord's request for an administrative expense
claim.

Judge Kwan vacated the court's memorandum decision on Landlord's
Motions entered on November 26, 2014.

Judge Kwan further denied, without prejudice, the Official
Committee of Unsecured Creditors' request that the court order
Chicago Title to release the Escrowed Funds to the Debtor's Trust
Account maintained by Debtor's counsel.

AERC is landlord to the property located at 5500 Wilshire
Boulevard, in Los Angeles, California.  On November 26, 2014, the
court issued a memorandum decision on the Motion and that Landlord
was entitled to immediate payment of outstanding obligations
arising post-petition including payment of holdover rent, late
charges, attorneys' fees and replacement parking losses incurred by
Landlord, but not subtenant rents.

In this case on remand from the District Court, this court
determines that none of the exceptions to the law of the case
doctrine are present.  First, the Appellate Decision, which has
since been appealed to the Ninth Circuit, is not clearly erroneous,
nor would it work a manifest injustice to apply the Appellate
Decision on remand.  Second, the parties have not presented any
intervening controlling authority that would make reconsideration
of the Appellate Decision appropriate, nor is the court aware of
any such authority. Third, there has not been a subsequent trial
that put forth substantially different evidence.

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.).

Art and Architecture Books of the 21st Century is represented by:

          Ron Bender, Esq.
          Beth Ann R. Young, Esq.
          Kurt Ramlo, Esq.
          Krikor J. Meshefejian, Esq.
          LEVENE, NEALE, BENDER, YOO & BRILL L.L.P.
          10250 Constellation Boulevard, Suite 1700
          Los Angeles, CA 90067
          Tel: (310) 229-1234
          Fax: (310) 229-1244
          Email: rb@lnbyb.com
                 bry@lnbyb.com
                 kr@lnbyb.com
                 kjm@lnbyb.com

            -- and --

          Jerome S Cohen, Esq.
          865 S. Figueroa Street, Suite 1388
          Los Angeles, CA 90017
          Tel: (213)267-1000
          Email: jsc@cohenbordeaux.com

            -- and --

          Thomas M Geher, Esq.
          1900 Avenue of the Stars, 7th Floor
          Los Angeles, CA 90067
          Tel: (310)712-6820
          Fax: (310)712-3302

            -- and --

          David W. Meadows, Esq.
          1801 Century Park East, Suite 1235
          Los Angeles, CA 90067
          Tel: (310)557-8490
          Fax: (310)557-8493
          Email: david@davidwmeadowslaw.com

United States Trustee (LA), U.S. Trustee, is represented by:

          Alvin Mar, Esq.
          OFFICE OF THE UNITED STATES TRUSTEE
          915 Wilshire Blvd., Suite 1850
          Los Angeles, CA 90017
          Tel: (213)894-6811

OFFICIAL COMMITTEE OF UNSECURED CREDITORS, Creditor Committee, is
represented by:

          Asa S Hami, Esq.
          Daniel A Lev, Esq.
          David J Richardson, Esq.
          Victor A Sahn, Esq.
          Steven Werth, Esq.
          David S Kupetz, Esq.
          Jessica Vogel, Esq.
          SULMEYER KUPETZ
          Los Angeles, CA
          333 S. Hope Street, 35th Floor
          Los Angeles, CA 90071
          Tel: (213)626-2311
          Fax: (213)629-4520
          Email: ahami@sulmeyerlaw.com
                 dlev@sulmeyerlaw.com
                 drichardson@sulmeyerlaw.com
                 vsahn@sulmeyerlaw.com
                 swerth@sulmeyerlaw.com
                 dkupetz@sulmeyerlaw.com
                 jvogel@sulmeyerlaw.com

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.


ASPECT SOFTWARE: Final Order Authorizing DIP Financing Entered
--------------------------------------------------------------
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District
of Delaware, issued a final order authorizing debtors Aspect
Software Parent, Inc., et al., to obtain postpetition secured
financing and to use cash collateral.

The Debtors were authorized to obtain postpetition financing in the
form of a non-amortizing multiple draw term loan facility in an
aggregate principal amount of $30,000,000 from Wilmington Trust,
N.A., as DIP Agent, and the lenders from time to time party to the
DIP Credit Agreement.

Judge Walrath authorized the Debtors to use cash collateral for
working capital and general corporate purposes.  She acknowledged
that the access of the Debtors to sufficient working capital and
liquidity made available through the DIP Facility and the use of
Cash Collateral and other financial accommodations under the DIP
Facility and the Final Order is vital to the preservation and
maintenance of the Debtors' going concern value and to the Debtors'
successful reorganization.

A full-text copy of the Final DIP Order, dated April 4, 2016, is
available at http://is.gd/knCOyG

                   About Aspect Software Parent

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

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

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


ASPECT SOFTWARE: Proposes to Set Claims Bar Dates
-------------------------------------------------
Aspect Software Parent, Inc., and its affiliated debtors ask the
U.S. Bankruptcy Court for the District of Delaware to enter an
order setting bar dates for filing proofs of claim.

The Debtors seek the entry of a Bar Date Order that establishes,
among others:

     (a) The date that is 35 days after the date of entry of the
order as the General Bar Date -- the last date and time for each
entity to file proofs of claim based on prepetition claims,
including requests for payment under section 503(b)(9) of the
Bankruptcy Code against any Debtor;

     (b) Sept. 6, 2016, at 5:00 p.m., as the Governmental Bar Date
-- the last date and time for each government unit to file proofs
of claim against any Debtor;

     (c) The Amended Schedules Bar Date -- the deadline by which
any entity asserting a claim arising from the Debtor's amendment of
the Debtor's Schedules.

     (d)  the Rejection Damages Bar Date -- the deadline by which
any entity asserting a claim arising from the Debtors' rejection of
an executory contract or unexpired lease.

The Debtors propose that the following entities holding claims
against the Debtors arising before the Petition Date be required to
file proofs of claim on or before the applicable date:

     (i) any entity whose claim against a Debtor is not listed in
the applicable Debtor's Schedules or is listed as contingent,
unliquidated, or disputed if such entity desires to participate in
any of these chapter 11 cases or share in any distribution in any
of the Chapter 11 cases;

    (ii) any entity that believes that its claim is improperly
classified in the Schedules or is listed in an incorrect amount and
that desires to have its claim allowed in a different
classification or amount other than that identified in the
Schedules;

   (iii) any entity that believes that its prepetition claims as
listed in the Schedules is not an obligation of the specific Debtor
against which the claim is listed and that desires to have its
claim allowed against a Debtor other than that identified in the
schedules; and

    (iv) any entity that believes that its claim against a Debtor
is or may be an administrative expense pursuant to section
503(b)(9) of the Bankruptcy Code.

The Debtors further propose that any entity who is required, but
fails, to file a proof of claim in accordance with the Bar Date
Order on or before the applicable Bar Dare shall be prohibited from
voting to accept or reject any plan of reorganization filed in the
chapter 11 cases, participating in any distribution in the chapter
11 cases on account of such claim, or receiving further notices
regarding such claim.

Aspect Software Parent, Inc., and its affiliated debtors are
represented by:

          Domenic E. Pacitti, Esq.
          Michael W. Yurkewicz, Esq.
          KLEHR HARRISON HARVEY BRANZBURG LLP
          919 N. Market Street, Suite 1000
          Wilmington, DE 19801
          Telephone: (302)426-1189
          Facsimile: (302)426-9193
          E-mail: dpacitti@klehr.com
                  myurkewicz@klehr.com

                 - and -

          Morton Branzburg, Esq.
          KLEHR HARRISON HARVEY BRANZBURG LLP
          1835 Market Street, Suite 1400
          Philadelphia, PA 19103
          Telephone: (215)569-2700
          Facsimile: (215)568-6603
          E-mail: mbranzburg@klehr.com

                 - and -

          Joshua A. Sussberg, Esq.
          Aparna Yenamandra, Esq.
          KIRKLAND & ELLIS LLP
          601 Lexington Avenue
          New York, NY 10022
          Telephone: (212)446-4800
          Facsimile: (212)446-4900
          E-mail: joshua.sussberg@kirkland.com
                 aparna.yenamandra@kirkland.com

                 - and -

          James H.M. Sprayregen, Esq.
          William A. Guerrieri, Esq.
          KIRKLAND & ELLIS LLP
          300 North LaSalle
          Chicago, IL 60654
          Telephone: (312)862-2000
          Facsimile: (312)862-2200
          E-mail: james.sprayregen@kirkland.com
                  will.guerrieri@kirkland.com

                   About Aspect Software Parent

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

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

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


AURORA DIAGNOSTICS: Moody's Lowers CFR to Caa3, Outlook Stable
--------------------------------------------------------------
Moody's Investors Service downgraded the Corporate Family Rating of
Aurora Diagnostics Holdings, LLC to Caa3 from Caa2 and the
Probability of Default Rating to Caa3-PD from Caa2-PD.  Moody's
also downgraded the rating on the company's senior unsecured notes
to Ca (LGD 5) from Caa3 (LGD 5).  Aurora's Speculative Grade
Liquidity Rating was lowered to SGL-4 from SGL-3.  The rating
outlook is stable.

The downgrade reflects Moody's heightened expectation that Aurora
will pursue some transaction within the next 12 months which the
rating agency would consider a default.  This could include a
transaction which Moody's considers a distressed debt exchange, or
a bankruptcy filing.

Aurora's senior secured credit facility, including its term loans
and revolving credit facility, mature on July 31, 2019.  The
company's senior unsecured notes are due in 2018.  However, if
Aurora is unable to refinance its senior unsecured bonds before
Oct. 14, 2017, the maturity of the credit facility will accelerate
and come due on Oct. 14, 2017.

The company's weak operating performance, combined with its debt
load, has led to a capital structure which Moody's views as
unsustainable.  Moody's believes that a refinancing of the
company's capital structure in a manner in which all lenders come
out whole is unlikely.  Moreover, in the event of a distressed debt
exchange or bankruptcy, Moody's estimates that bond holders will
suffer material losses.

The lowering of the SGL Rating reflects Moody's expectation that
the maturity/expiration of the company's bank debt will be
accelerated to at least October 2017.  It also reflects Moody's
expectation for modest free cash flow and declining cash balances
over the next 12-18 months.  In addition, a significant portion of
cash flow is used to fund the considerable interest burden
associated with the company's notes, making free cash flow weak.

This is a summary of Moody's rating actions.

Ratings downgraded:

Aurora Diagnostics Holdings, LLC

  Corporate Family Rating to Caa3 from Caa2

  Probability of Default Rating to Caa3-PD from Caa2-PD

  Senior unsecured notes due 2018 to Ca (LGD 5) from Caa3 (LGD 5)

Ratings lowered:

Aurora Diagnostics Holdings, LLC

  Speculative Grade Liquidity Rating to SGL-4 from SGL-3

The rating outlook is stable.

                        RATINGS RATIONALE

Aurora's Caa3 CFR reflects Moody's belief that there is a high risk
that Aurora will pursue some transaction within the next 12 months
which the rating agency would consider a default.  This could
include a transaction which Moody's considers a distressed debt
exchange, or a bankruptcy filing.  The company is unlikely to be
able to sustain its current capital structure given the
considerable interest burden associated with the outstanding notes.
Thus, Moody's expects the cash requirement to service the interest
on the notes will constrain the ability to repay debt and therefore
Aurora will continue to operate with considerable financial
leverage.  Moody's estimates that adjusted debt to EBITDA is likely
to remain around 9.0 times.  That said Moody's expects that Aurora
will continue to actively pursue acquisitions. It also expects that
a difficult operating environment, characterized by considerable
competition for pathology services and weak growth in test volumes,
will continue over the next 12-18 months.  Moreover, acquisitions
will require reliance on the company's bank revolver.

The stable outlook reflects Moody's view that the Caa3-PD PDR and
Caa3 CFR appropriately reflect the high probability of default on
Aurora's obligations, as well as the likely family recovery
prospects in the event of default.

The ratings could be lowered if Moody's comes to believe that the
probability of default has increased, or if expects recoveries in
the event of a default to decline.

Given the pressures facing the company, Moody's does not expect to
upgrade Aurora's ratings in the near term.  However, Moody's could
upgrade following a material improvement in Aurora's capital
structure.

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

Aurora Diagnostics Holdings, LLC, the parent company of Aurora
Diagnostics, LLC (collectively Aurora), through its subsidiaries,
provides physician-based general anatomic and clinical pathology,
dermatopathology, molecular diagnostic services and other esoteric
testing services to physicians, hospitals, clinical laboratories
and surgery centers.  The company is majority owned by equity
sponsors KRG Capital Partners and Summit Partners. Aurora generates
approximately $264 million in revenues.



BH SUTTON: Hires CohnReznick as Accountants and Advisors
--------------------------------------------------------
BH Sutton Mezz LLC seeks authorization from the U.S. Bankruptcy
Court for the Southern District of New York to employ CohnReznick
LLP as accountants and advisors, effective March 18, 2016.

The Debtor requires CohnReznick to:

   (a) assist the Debtor in the preparation of short and long-term
       projections;

   (b) assist the Debtor in the preparation of cash flow
       forecasts;

   (c) assist the Debtor in the preparation of financial-related
       disclosures required by the Bankruptcy Court, including the
       Debtor's Schedules of Assets and Liabilities, Statements of
       Financial Affairs, monthly operating reports, etc.;

   (d) assist the Debtor in the preparation of financial
       statements including tax returns, forms and audit reports;

   (e) assist the Debtor to the extent necessary to formulate a
       disclosure statement and plan of reorganization;

   (f) assist the Debtor in daily administrative and operational
       duties; and

   (g) render such other general business consulting or other such
       assistance as the Debtor or its counsel may deem necessary.

CohnReznick will be paid at these hourly rates:

       Partners/Senior Partner       $610-$815
       Manager/Senior
       Manager/Director              $450-$640
       Other Professional Staff      $300-$440
       Paraprofessional              $195

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

Clifford Zucker, partner of CohnReznick, 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.

CohnReznick can be reached at:

       Clifford Zucker
       COHNREZNICK LLP
       1301 Avenue of the Americas
       New York, NY 10019
       Tel: (212) 297-0400

                       About BH Sutton

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



BLUEBERRY TWIST: Case Summary & 14 Unsecured Creditors
------------------------------------------------------
Debtor: Blueberry Twist Partnership
        P.O Box 6067
        Oroville, CA 95966

Case No.: 16-22263

Chapter 11 Petition Date: April 11, 2016

Court: United States Bankruptcy Court
       Eastern District of California (Sacramento)

Judge: Hon. Christopher D. Jaime

Debtor's Counsel: Stephen M. Reynolds, Esq.
                  REYNOLDS LAW CORPORATION
                  424 2nd St #A
                  Davis, CA 95616
                  Tel: (530) 297-5030
                  E-mail: sreynolds@lr-law.net

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The petition was signed by Todd Barnes, managing partner.

A list of the Debtor's 14 largest unsecured creditors is available
for free at http://bankrupt.com/misc/caeb16-22263.pdf


CAESARS ENTERTAINMENT: Amends Employment Agreement with Executive
-----------------------------------------------------------------
As disclosed in a Form 8-K report filed with the Securities and
Exchange Commission, Tariq Shaukat has informed Caesars
Entertainment Corporation that he is contemplating relocation
outside of Las Vegas, Nevada for personal family reasons, and as a
result, that he intends to pursue employment elsewhere.

Accordingly, to ensure a seamless transition in connection with any
such resignation, on April 8, 2016, Caesars Enterprise Services,
LLC and Mr. Shaukat entered into an amendment to Mr. Shaukat's
employment agreement.  Under the terms of the amendment, if Mr.
Shaukat resigns with an effective date on or after May 31, 2016,
and before Dec. 31, 2016, he will be entitled to certain benefits
subject to his execution of a release and compliance with the
18-month non-competition and non-solicitation clauses in his
employment agreement.

                    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.


CARDIAC SCIENCE: Krugman Partners Provides Governance Service
-------------------------------------------------------------
Kugman Partners on April 12 disclosed that it provided governance
services to Cardiac Science Corporation during the company's
restructuring and Reorganization, with Brent Kugman serving as
President, Treasurer and Board Member, and Trevor Toppen serving as
Secretary and Board Member.

Cardiac Science Corporation, a leader in manufacturing of automated
external defibrillators, was facing liquidity challenges as a
result of excessive corporate overhead and appropriation of capital
by its parent company.  Subsequent to acquiring the Company's debt,
the new senior secured lender exercised its default rights to elect
a new slate of directors to oversee governance and management of
the company.

Kugman Partners accepted Director and Officer appointments and
immediately began directing efforts to support the company,
undertaking numerous strategic initiatives to restore the business
to health and ensure stability for its employees and other
interested parties.

"We needed to assure employees and creditor constituencies that
Cardiac Science Corporation was a sustainable organization," says
Brent Kugman.  "In essence, Cardiac Science Corporation was a good
company constrained by previously poor stewardship at the parent
level.  We worked with the company's employees to stabilize
operations, and then oversaw a public sale process that
substantiated the value of the company and provided a true fresh
start."

Under Kugman Partners' guidance, the company was successfully sold
to a new entity affiliated with LA-based private equity firm Aurora
Resurgence for value in excess of $100 million, through a 363 sale
process under Chapter 11 of the Bankruptcy Code.

"Kugman Partners was instrumental in managing vendor, customer, and
employee relationships during a difficult period and maximizing
value to all constituents," says Sean Ozbolt, Partner at Aurora
Resurgence.  "We couldn't be happier with the professionalism and
dedication of the Kugman team, which led to a stabilization of the
business and, ultimately, a successful restructuring."

"Cardiac Science Corporation employs 200 employees internationally,
and is now in a position to grow exponentially," adds Brent Kugman.
"Being able to quickly assess a complex situation such as this one
and deploy resources to oversee a successful restructuring are
hallmarks of our organization, and I am personally very pleased to
see how successful we were in working with management to secure the
company's future."

                       About Kugman Partners

Kugman Partners -- http://www.kugmanpartners-- is a corporate
advisory firm that specializes in restoring stability to
middle-market and upper middle-market companies through
acquisitions as well as renewal strategies, and providing corporate
governance for companies in transition and those that are
experiencing stressed or distressed financial and operating
performance.  Kugman Partners' comprehensive personalized solutions
include capital investment and profit enhancement services.  Kugman
Partners pursues investment opportunities in select scenarios,
including stressed and distressed assets, undermanaged portfolio
companies, corporate carve-outs, and family businesses facing
transitional challenges.

                      About Cardiac Science

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

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

Judge Robert D. Martin presides over the case.

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

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

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

                             *     *      *

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


CATASYS INC: Files Copy of Investor Presentation with SEC
---------------------------------------------------------
Catasys, Inc., furnished the Securities and Exchange Commission a
copy of its April 2014 investor presentation.  Catasys discusses
about, among other things, business overview, current clients,
growth opportunity, company highlights and management team.  A copy
of the Presentation is available at no charge at
http://is.gd/XyIpnS

                       About Catasys Inc.

Based in Los Angeles, California, Hythiam, Inc., n/k/a Catasys,
Inc., is a healthcare services management company, providing
through its Catasys(R) subsidiary specialized behavioral health
management services for substance abuse to health plans.

Catasys reported a net loss of $7.22 million on $2.70 million of
revenues for the year ended Dec. 31, 2015, compared to a net loss
of $27.3 million on $2.03 million of revenues for the year ended
Dec. 31, 2014.  As of Dec. 31, 2015, Catasys had $2.88 million in
total assets, $11.6 million in total liabilities, and a total
stockholders' deficit of $8.72 million.

Rose, Snyder & Jacobs LLP, in Encino, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has continued
to incur significant operating losses and negative cash flows from
operations during the year ended Dec. 31, 2015, and continues to
have negative working capital at Dec. 31, 2015.  These conditions
raise substantial doubt about the Company's ability to continue as
a going concern.


CENTRAL BEEF: Hires Barnett Bolt as Special Counsel
---------------------------------------------------
Central Beef Ind., LLC, seeks authority from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Barnett Bolt
Kirkwood Long & Koche, P.A., as its special counsel, nunc pro tunc
to March 21, 2016.

Central Beef requires Barnett Bolt to render legal advice with
respect to corporate and real estate matters, including
participating in negotiations with potential purchasers and
investors, and preparing corporate documents, loan documents,
and/or documents related to the sale of assets.

Barnett Bolt will be paid on an hourly basis at these rates:

     Leslie J. Barnett                  $495
     Leslie Wager Hudock                $385

The current hourly rates of Barnett Bolt are:

     Lawyers                  $215-$500
     Paralegals               $150

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

Leslie J. Barnett, partner of Barnett Bolt Kirkwood Long & Koche,
P.A., 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.

Barnett Bolt can be reached at:

     Leslie J. Barnett
     BARNETT BOLT KIRKWOOD LONG & KOCHE, P.A.
     601 Bayshore Boulevard, Suite 700
     Tampa, FL 33606
     Tel: (813) 253-2020
     Fax: (813) 251-6711
     E-mail: ljbarnett@barnettbolt.com

                       About Central Beef

Central Beef Ind., LLC, 5C of Central Florida, LLLP and CBI
Management/Administration, LLC, engaged in the business of
purchasing cattle and beef production, each filed a Chapter 11
bankruptcy petition (Bankr. M.D. Fla. Case Nos. 16-02366, 16-02368
and 16-02370, respectively) on March 21, 2016.  Ida Raye Chernin
signed the petitions as manager. The Debtors estimated both assets
and liabilities in the range of $10 million to $50 million.
Stichter, Riedel, Blain & Poster, P.A., represents the Debtors as
counsel. Judge Catherine Peek McEwen has been assigned the cases.


CENTRAL BEEF: Hires Stichter Riedel as Bankruptcy Counsel
---------------------------------------------------------
Central Beef Ind., LLC, seeks authority from the U.S. Bankruptcy
Court for the Middle District of Florida to employ Stichter Riedel
Blain & Postler, P.A., as its counsel, nunc pro tunc to March 21,
2016.

Central Beef requires Stichter Riedel to:

   a. advise the Debtors with respect to their powers and duties
      as debtors in possession and the continued management of
      their business operations;

   b. advise the Debtors with respect to their responsibilities
      in complying with the U.S. Trustee's Operating Guidelines
      and Reporting Requirements and with the Local Rules of the
      Court;

   c. prepare on behalf of the Debtors all motions, pleadings,
      orders, applications, adversary proceedings, answers,
      reports, and other legal documents necessary in the
      administration of the cases;

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

   e. negotiate and prepare on behalf of the Debtors a plan, a
      disclosure statement, and all related documents;

   f. negotiate and prepare documents relating to the disposition
      of assets, as requested by the Debtors;

   g. advise the Debtors, when appropriate, with respect to
      federal and state regulatory matters;

   h. advise the Debtors on finance, and finance-related matters
      and transactions, and matters relating to the sale of the
      Debtors' assets; and

   i. perform such other legal services for the Debtors as may be
      necessary and appropriate.

Stichter Riedel will be paid on an hourly basis at these rates:

       a. Harley E. Riedel             $495
       b. Charles A. Postler           $475
       c. Susan Heath Sharp            $350
       d. Matthew B. Hale              $210

Generally, Stichter Riedel's hourly rates are:

        Title                                  Rate per Hour
        -----                                  -------------
       (a) Partners                               $350-495
       (b) Associates                             $200-325
       (c) Paralegals                             $125-190

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

Prior to the petition date, Stichter Riedel received certain
amounts as compensation for professional services performed, for
the reimbursement of reasonable and necessary expenses incurred in
connection therewith, and as a general retainer.

Harley E. Riedel, partner of Stichter Riedel Blain & Postler, P.A.,
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.

Stichter Riedel can be reached at:

     Harley E. Riedel, Esq.
     Susan Heath Sharp, Esq.
     STICHTER RIEDEL BLAIN & POSTLER, P.A.
     110 East Madison Street, Suite 200
     Tampa, FL 33602
     Tel: (813) 229-0144
     Fax: (813) 229-1811
     E-mail: hriedel@srbp.com
             ssharp@srbp.com

                       About Central Beef

Central Beef Ind., LLC, 5C of Central Florida, LLLP and CBI
Management/Administration, LLC, engaged in the business of
purchasing cattle and beef production, each filed a Chapter 11
bankruptcy petition (Bankr. M.D. Fla. Case Nos. 16-02366, 16-02368
and 16-02370, respectively) on March 21, 2016.  Ida Raye Chernin
signed the petitions as manager. The Debtors estimated both assets
and liabilities in the range of $10 million to $50 million.
Stichter, Riedel, Blain & Poster, P.A., represents the Debtors as
counsel. Judge Catherine Peek McEwen has been assigned the cases.


CIENA CORP: S&P Raises CCR to 'B+' on Improved Credit Metrics
-------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating to 'B+' from 'B' on Hanover, Md.-based Ciena Corp.  The
outlook is stable.

At the same time, S&P assigned its 'BB' issue-level rating to the
company's new $200 million senior secured term loan and raised
S&P's issue-level rating to 'BB' from 'BB-' on the company's
existing $250 million senior secured credit facilities.  The '1'
recovery rating indicates S&P's expectation for very high recovery
(90%-100%) of principal in the event of a payment default.  S&P
also affirmed its 'B' issue-level rating on the company's senior
unsecured debt.  The '5' recovery rating indicates that unsecured
creditors can expect modest (10%-30%; in the lower end of the
range) recovery in the event of a default.

"The rating action reflects our view of Ciena's improved financial
risk profile, based on adjusted gross leverage under 5x pro forma
for the proposed $200 million term loan B but significantly
improving to the low 3x area after the 2017 convertible matures,"
said Standard & Poor's credit analyst Minesh Shilotri.

The stable outlook reflects S&P's expectation that stable 100G and
switching product demand, along with a diversifying customer base,
will lead to good revenue growth and improving leverage metrics
over the next 12 months, and that the current liquidity of more
than $1 billion, along with around $150 million in annual free cash
flow, will be sufficient to settle around $830 million of
convertible debt maturing in 2017 and 2018.


CIENA CORPORATION: Moody's Raises CFR to B1, Outlook Stable
-----------------------------------------------------------
Moody's Investors Service upgraded Ciena Corporation's corporate
family rating to B1 from B2.  Concurrently, Moody's affirmed the
existing senior secured term loan at Ba2 and assigned a Ba2 to the
company's proposed senior secured term loan.  Ciena will use the
proceeds from the term loan to supplement cash on the balance sheet
and to repay a portion of its existing 0.875% convertible notes due
June 2017.  The ratings outlook is stable.

                         RATINGS RATIONALE

Ciena's B1 corporate family rating reflects a solid market position
in approximate $13 billion fiber optic networking sector. We expect
service providers will continue investing to augment the capacity
of their optical backbone networks in order to drive down unit
costs and create the economics/cost structure to handle the huge
and growing amounts of IP traffic that they transport to and from
customers.  With a solid market presence, good product positioning
and a broadening customer base, Ciena should benefit from a market
that we anticipate will grow in the mid-single digits over the next
few years.

While modest, profitability is improving through revenue growth and
cost containment, with adjusted EBITDA margins projected at 11%, up
from 6% three years ago.  Following the conversion of a convertible
debt instrument in March 2015 as well as improved operating
performance, adjusted debt to EBITDA has declined to 5.0x as of
January 2016 from 10.3x as of fiscal October 2014. Although there
will be a temporary increase in leverage due to Ciena's pre-funding
a part of next year's maturing convertible debt, based on current
market demand conditions, which can be volatile, and Ciena's
product positioning, Moody's expects leverage to decline toward 4x
over the next year.  With free cash flow over $150 million, free
cash flow to debt should approach 20% over the next 18 months.

As a result of good demand in the optical transport market and
solid product positioning, Ciena has grown revenue in ten of the
last twelve quarters by an average of 10% while improving profit
margins.  Based on end user market demand and Ciena's product
architecture and portfolio that is well-aligned with that demand,
Moody's expects mid-single digit revenue growth over the next year,
stable gross margins in the mid-to-low 40% range, and adjusted
EBITDA margins between 11% and 12%.  Ciena has a very good
liquidity profile with an SGL-1 Speculative Grade Liquidity Rating.
The company had $995 million in cash and short term investments as
of January 2016.  Moody's expects Ciena will generate over $150
million of free cash flow over the next year, with variation driven
by working capital swings that are supported by a $250 million
secured, asset based lending facility that matures December 2020.
There were no borrowings under the facility as of January 2016.

The Ba2 ratings on the senior secured first lien term loans reflect
their senior most position in the capital structure and loss
absorption support provided by the unsecured convertible notes in a
default scenario.

These ratings were upgraded:

  Corporate Family Rating: to B1 from B2
  Probability of default: to B1-PD from B2-PD
  Speculative Grade Liquidity Rating: to SGL-1 from SGL-2

This rating was affirmed

  $250 million senior secured term loan, Ba2, LGD2

This rating was assigned:

  Senior Secured 1st Lien Term Loan, Ba2, LGD2

Ratings outlook: stable

The stable outlook reflects Moody's expectations that Ciena's
improving credit metrics will be sustained, driven by the company's
good product positioning, profitability and cash flow, as well as
our expectations that Ciena will be able to maintain and defend its
solid market position in the fiber optic market.

The ratings could be upgraded if Ciena is likely to sustain revenue
growth and maintain EBITDA margins above 12%, while sustaining
adjusted debt to EBITDA below 4x and maintaining a good liquidity
profile.

The ratings could be lowered if there is a deterioration in
business fundamentals evidenced by revenue declines and EBITDA
margins falling below 9%.  Additionally, adjusted debt to EBITDA
sustained above 5.5x times could pressure the rating.

The principal methodology used in these ratings was Diversified
Technology Rating Methodology published in December 2015.


CLIFFS NATURAL: S&P Lowers CCR to 'SD' on Distressed Exchange
-------------------------------------------------------------
Standard & Poor's Ratings Services said it lowered its corporate
credit rating on Cleveland, Ohio-based iron ore producer Cliffs
Natural Resources Inc. to 'SD' from 'CC'.

S&P also lowered the issue-level ratings on the company's
second-lien notes to 'D' from 'CC' and on its senior unsecured
notes to 'D' from 'CC'.  The issue-level rating on the first-lien
debt remains 'BB-' with a '1' recovery rating.

The rating action reflects Cliffs' announcement that it has
completed a private debt exchange in which $512 million in debt
principal, consisting of second-lien notes and various senior
unsecured notes, was exchanged for $219 million in new 8.00%
1.5-lien senior secured notes due 2020.  S&P is lowering the
corporate credit rating and the issue-level ratings on the
associated debt because S&P views the exchange to be distressed.
This determination is based on the company's financial condition,
including S&P's view that the capital structure was unsustainable.


"We are reassessing our ratings on Cliffs and plan to release
updated ratings within the week," said Standard & Poor's credit
analyst Chiza Vitta.  "Our analysis will incorporate the company's
new capital structure as well as developments subsequent to our
rating actions on Jan. 28, 2016."



COLUCCI TILE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Colucci Tile and Marble, Inc.
        517 McNeilly Road, Suite 200
        Pittsburgh, PA 15226

Case No.: 16-21389

Nature of Business:  The company's line of business includes
          providing asphalt tile, carpeting, linoleum, and
          resilient flooring installation and services.

Chapter 11 Petition Date: April 12, 2016

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

Judge: Hon. Gregory L. Taddonio

Debtor's Counsel: Christopher M. Frye, Esq.
                  STEIDL & STEINBERG
                  Suite 2830 Gulf Tower
                  707 Grant Street
                  Pittsburgh, PA 15219
                  Tel: 412-391-8000
                  Fax: 412-391-0221
                  Email: chris.frye@steidl-steinberg.com
                         kenny.steinberg@steidl-steinberg.com

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

Estimated Debts: $1 million to $10 million

The petition was signed by Carl J. Hilbert, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pawb16-21389.pdf


CORRECTIONS CORP: Fitch Affirms 'BB+' Issuer-Default Rating
-----------------------------------------------------------
Fitch Ratings has affirmed all the ratings for Corrections
Corporation of America (NYSE: CXW) and has assigned a new
'BBB-'/'RR1' rating to CXW's secured term loan. The Rating Outlook
is Stable.

KEY RATING DRIVERS

The 'BB+' Issuer-Default Rating (IDR) incorporates CXW's strong
credit metrics offset by steadily declining occupancy rates and
weakening margins. CXW's revenues remain highly reliant on short
term 3 - 5 year contracts with federal and state government
entities that have the ability to dissolve agreements with CXW at
any time without cause, as well as funding for contractual payments
often dependent on annual budget approvals with political under
currents.

STRONG FINANCIAL METRICS

CXW has leverage that is low relative to Fitch's rated U.S. REIT
universe, but in-line with broader corporates at the same rating
level. Leverage (as measured by net debt to recurring operating
EBITDA) was at an elevated 3.5x for the year-ended Dec. 31, 2015 as
a result of the timing effects from CXW's acquisition of Avalon
Correctional Services (Avalon) near the end of the calendar year.
CXW incurred debt and other costs related to financing the Avalon
acquisition, including an incremental $100 million term loan, while
receiving minimal earnings benefit in 2015. Fitch expects CXW's
leverage to return to the high-2x - low-3x range by the end of 2016
based on a full year of earnings from Avalon, the additional
revenue from the contract awarded to its Red Rock facility, and its
newly developed Trousdale facility coming on-line during the year.
The company targets leverage between 3x - 4x.

CXW also has a high level of fixed-charge coverage. Coverage was
7.7x for the year-ended Dec. 31, 2015 versus 8.3x and 7.5x in 2014
and 2013, respectively. This metric is also amongst the strongest
in Fitch's rated U.S. REIT universe. Fitch defines coverage as
recurring operating EBITDA less recurring maintenance capital
expenditures divided by cash interest incurred. Fitch projects that
coverage will remain strong through the rating horizon.

FALLING OCCUPANCIES
Average compensated occupancy has declined every year since 2007
from 98.2%, and stood at 82.5% for the year-ended Dec. 31, 2015.
While CXW desires a certain level of vacancy in order to meet
demand, occupancy has remained well below its target range of
available beds. CXW has lost multiple contracts in the last several
years, some by choice as they relate to the company's lower-margin,
higher-occupancy managed-only facilities. The company has been
unable to recoup the losses in occupancy through acquisitions or
new contracts. Margins have also suffered, dipping below 28% in
2015 after remaining approximately at 30% since 2007. The decline
in California inmate populations has also negatively affected the
company's operational metrics. However, CXW has consistently grown
revenues per man-day with recent increases due to its high earning
South Texas Family Residential Center. Fitch expects that falling
occupancies and margins will be offset by limited development
revenues and good cash retention after dividends, which should
result in leverage sustaining in the high-2x - low-3x range over
the longer term.

SOLID COMPETITIVE POSITION

The long-term credit characteristics of the private correctional
facilities industry are generally attractive, although there are
potential headwinds. Public prisons are generally overcrowded and
the supply of new public prisons has been modest over the past five
years. The private sector accounts for approximately 10% of the
U.S. prison market and CXW is the market leader with 42% market
share of all private prison beds. CXW's largest competitor, The GEO
Group (GEO), controls 37% of private prison beds, but relatively
high barriers of entry exist for other potential competitors. U.S.
private correctional facilities should continue to exhibit modest
growth in the long-run despite slight declines in federal prison
populations in two consecutive years for the first time in over 40
years.

RELATIVELY STABLE CONTRACTUAL INCOME

CXW enters into contracts with federal agencies as well as state
and local governments. These customers typically guarantee
contracts either at a per-inmate-per-day (per diem) rate or utilize
a "take or pay" arrangement which guarantees minimum occupancy
levels. Contracts with these government authorities are generally
for 3 - 5 years with multiple renewal terms, but can be terminated
at any time without cause. Terms are typically exposed to
legislative bi-annual or annual appropriation of funds process.
Since contracts are subject to appropriation of funds, strained
budget situations at federal, state, and local levels could
pressure negotiated rates.

The company received multiple requests for assistance with
contracts from its government customers throughout the financial
downturn. CXW was able to adjust cost and/or service items in
contracts to compensate for reduced revenue levels such that the
contracted profit and margins did not deteriorate. As a result, the
company had strong relative financial performance through the
recent recession. Despite several contract losses in recent years,
the historical renewal rate at owned and managed facilities is
approximately 95%.

LIMITED REAL ESTATE VALUE

CXW's real estate holdings provide limited credit support. There
are limited to no alternative uses of prisons and the properties
are often in rural areas. The company has never obtained a mortgage
on any of its owned properties, exhibiting a lack of contingent
liquidity. However, the facilities do provide essential
governmental services, so there is inherent value in the
properties. Additionally, prisons have a long depreciable life of
50 years with a practical useful life of approximately 75 years.
CXW has a young owned portfolio with a median age of approximately
18 years.

LIMITED SECURED DEBT MARKET

The secured debt market for prisons remains undeveloped and is
unlikely to become as deep as that for other commercial real estate
asset classes, weakening the contingent liquidity provided by CXW's
entirely unencumbered asset pool. Fitch would view increased
institutional interest in secured lending for prisons throughout
business cycles as a positive credit characteristic. Fitch expects
that the company will retain strong access to capital through the
bank, bond and equity markets.

CONCENTRATED, BUT CREDIT WORTHY CUSTOMER BASE

CXW's customer base is highly credit worthy, but concentrated as
evidenced by the top 10 tenants accounting for 85% of total
revenues in 2015. Three of the company's top tenants are large
federal correctional and detention authorities, which collectively
made up 51% of revenues for the year-ended Dec. 31, 2015. U.S.
Immigration and Customs Enforcement accounted for 24%, up
significantly from the prior year due to the South Texas Family
Residential Center, the United States Marshals accounted for 16% of
revenue, and the Bureau of Prisons accounted for 11% of revenue.
California, Georgia and Tennessee are the three largest state
customers and together accounted for 22% of 2015 revenue.

CONSERVATIVE FINANCIAL POLICIES

Management has stated a leverage target of approximately 3x, with a
cap at 4x. CXW maintains strong financial flexibility as it
generates annualized AFFO before dividends of approximately $309
million. Approximately 80% of AFFO has been used to support the
dividend while the remaining 20% has supported prison construction,
debt reduction and other corporate activities. The company's ROI
hurdle rate is 13% - 15% cash-on-cash, pre-tax EBITDA returns to
all capital investments.

SUFFICIENT LIQUIDITY COVERAGE

CXW's liquidity coverage is 4.8x for the period Jan. 1, 2016 to
Dec. 31, 2017. Sources of liquidity include unrestricted cash,
availability under the company's secured credit facility and
projected retained cash flows from operating activities after
dividends. Uses of liquidity include development and other capital
expenditures. CXW benefits from having only $15 million in debt
maturity payments related to its incremental term loan through
2017.

SECURED CREDIT FACILITY, TERM LOAN AND SENIOR NOTES NOTCHING

Fitch has affirmed the secured credit facility and assigned a new
rating to the secured term loan at 'BBB-/RR1', one notch above the
IDR. The secured credit facility and term loan are effectively
senior to the unsecured bonds with CXW's accounts receivables
pledged as collateral. Accounts receivables were $234 million as of
Dec. 31, 2015. Equity in the company's domestic operating
subsidiaries and 65% of international subsidiaries are also pledged
as collateral. The long-term fixed assets are not pledged.

The RR of '1' for CXW's secured credit facility supports a rating
of 'BBB-', one notch above the IDR, and reflects outstanding
recovery prospects. The secured credit facility is effectively
senior to the unsecured bonds. CXW's accounts receivable are
pledged as collateral. Accounts receivable were $234 million as of
Dec. 31, 2015. Equity in the company's domestic operating
subsidiaries and 65% of international subsidiaries are also pledged
as collateral. The long-term fixed assets are not pledged. As of
Dec. 31, 2015, leverage through the secured credit facility was
approximately 1.1x based on the drawn amount, and 2.2x assuming the
facility was fully drawn.

The RR of '4' for CXW's senior unsecured debt supports a rating of
'BB+', the same as CXW's IDR, and reflects average recovery
prospects in a distressed scenario.

KEY ASSUMPTIONS

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

-- 1.5% same-store NOI growth annually 2016 - 2018;

-- No debt or equity issued through the forecast period;

-- $53 million cash adjustment for depreciation and interest
    expenses in 2016 related to South Texas Family Residential
    Center, $49 million in 2017, and $34 million in 2018;

-- $58.5 million in annual maintenance and technology capital
    expenditures from 2016 - 2018;

-- $32.5 million in development expenditures related to Red Rock
    Correctional Center expansion in 2016;

-- Dividends of $0.54/share in 2016, $0.56/share in 2017, and
    $0.58/share in 2018.

RATING SENSITIVITIES

Considerations for an investment grade IDR include:

-- Increased privatization of the correctional facilities
    industry;

-- An acceleration of market share gains and/or contract wins;

-- Adherence to more conservative financial policies (2x leverage

    target; 4x minimum fixed charge coverage);

-- Increased mortgage lending activity in the private prison
    sector.

Considerations for downward pressure on the IDR/Outlook include:

-- Fitch's projection of leverage sustaining above 3.5x coupled
    with continued fundamental business headwinds. Should
    operating fundamentals improve, indicating current operating
    weakness is more cyclical than secular in nature, leverage
    sustaining above 4.0x would be considered for downward
    pressure on the IDR or Outlook;

-- Increased pressure on per diem rates from customers;

-- Decreasing market share or profitable contract losses;

-- Material political decisions negatively affecting the long-
    term dynamics of the private correctional facilities industry.

FULL LIST OF RATING ACTIONS

Fitch takes the following actions:

Corrections Corporation of America
-- Issuer Default Rating (IDR) affirmed at 'BB+';
-- Secured revolving credit facility affirmed at 'BBB-'/'RR1';
-- Secured term loan rated 'BBB-'/'RR1';
-- Senior unsecured notes affirmed at 'BB+'/'RR4'.


CTI BIOPHARMA: FMR LLC Reports 8.76% Equity Stake as of April 8
---------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission on April 8, 2016, FMR LLC and Abigail P. Johnson
disclosed that they beneficially own 24,664,248 shares of common
stock of CTI Biopharma Inc. representing 8.764 percent.  Select
Biotechnology Portfolio also reported beneficial ownership of
19,931,435 shares.  A copy of the regulatory filing is available
for free at http://is.gd/AYeDQR

                       About CTI BioPharma

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

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

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

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


DAIICHI CHOU: Japanese Case Recognized as Foreign Main Proceeding
-----------------------------------------------------------------
The Hon. Michael E. Wiles of the U.S. Bankruptcy Court for the
Southern District of New York recognized as foreign main proceeding
pursuant to Section 1517(b)(1) of the Bankruptcy Code the Japanese
proceeding commenced by Daiichi Chuo Kisen Kaisha.

As reported by the Troubled Company Reporter on Oct. 23, 2015, the
Ontario Superior Court of Justice issued an initial order
recognizing the civil rehabilitation proceedings under Japanese law
of shippers Daiichi Chuo Kisen Kaisha and Star Bulk Carriers Co.
S.A., currently pending as Case No. Heisei 27 (2015) (Sai) 53
before the 20th Civil Division of the Tokyo District Court, Japan.

The U.S. Court also recognized Masakazu Yakushiji and Koji Fujita
as the foreign representative of the Debtors.

The foreign representative's counsel:

   Tony Reyes, Esq.
   NORTON ROSE FULBRIGHT CANADA LLP
   Royal Bank Plaza, South Tower, Suite 3800
   200 Bay Street, P.O. Box 84
   Toronto, Ontario M5J 2Z4
   Tel: 416 216 4825
   Email: Tony.Reyes@nortonrosefulbright.com

      -- and --

   Alexander Schmitt, Esq.
   NORTON ROSE FULBRIGHT CANADA LLP
   Royal Bank Plaza, South Tower, Suite 3800
   200 Bay Street, P.O. Box 84
   Toronto, Ontario M5J 2Z4
   Tel: (416) 216-2419
   E-mail: Alexander.Schmitt@nortonrosefulbright.com

                  About Daiichi Chuo

Daiichi Chuo Kisen Kaisha is a Japanese-based international
shipping company incorporated under Japanese law in 1960.  In
addition to its principal domestic Japanese offices in Tokyo,
Kansai, Wakayama and Kashima, where the majority of DCKK's
employees are located, DCKK has ancillary offices in New York
(opened in 1969), Manila, Hong Kong, London, Shanghai, Brisbane and
Vietnam.  DCKK's core business is marine transportation, providing
overseas shipping, coastal shipping and other related services,
focusing primarily on transporting dry bulk (bulk cargo such as
unpackaged grain, iron ore and other commodities) using a tramp
steamer, commonly referred to as a tramper.

As reported in the Troubled Company Reporter-Asia Pacific on Sept.
30, 2015, Bloomberg News said Daiichi Chuo KK filed for bankruptcy
protection in Tokyo with JPY120 billion ($1 billion) in
liabilities, as over-expansion amid plunging freight rates pushed
the Japanese shipping line to four straight years of losses.  Its
wholly owned Star Bulk Carrier Co. unit also filed for bankruptcy
with JPY57 billion in liabilities, Daiichi Chuo said in a statement
on Sept. 29, Bloomberg related.

Daiichi Chuo Kisen Kaisha filed a Chapter 15 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 15-12650) on Sept. 29, 2015.  The
petition was signed by Masakazu Yakushiji, the president and
foreign representative.  The Debtor estimated both assets and
liabilities of $100 million to $500 million.  The Petitioner has
engaged Norton Rose Fulbright US LLP as counsel.  Judge Michael E.
Wiles is assigned to the case.


DIGITAL REALTY: Fitch Currently Rates Preferred Stock at 'BB+'
--------------------------------------------------------------
Fitch Ratings has assigned a rating of 'BBB' to the senior
unsecured issuance by Digital Euro Finco, LLC, a wholly-owned
subsidiary of Digital Realty Trust, Inc. (NYSE: DLR). The notes
will be fully and unconditionally guaranteed by Digital Realty
Trust, Inc. and Digital Realty Trust, L.P. The company expects to
use to the net proceeds to repay borrowings under its global
revolving credit facility.

KEY RATING DRIVERS

The rating reflects that while the acquisition of Telx moderately
increases leverage in the near term, Fitch expects the company's
metrics to improve in-line with longer-term historical trends, and
consistent with a 'BBB' Issuer Default Rating (IDR) for a
diversified data center real estate investment trust (REIT). While
the Telx transaction adds more operational intensity and decreases
margins, the transaction has several benefits, including increased
tenant and revenue diversity and complementary business lines.

As the largest data center REIT, Digital Realty exhibits credit
strengths including a global platform, granular tenant base, strong
access to multiple sources of capital, adequate liquidity, and a
deep management bench. The rating takes into account the niche
asset class in which the company operates, resulting in a less
liquid investment market than other commercial property asset
classes and also low unencumbered asset coverage for the rating.

Key Metrics Remain Appropriate For Rating

Fitch estimates run-rate leverage at 5.2x for the year ended Dec.
31, 2015. Fitch recently revised the treatment of REIT cumulative
perpetual preferred stock to 50% equity credit from 100%. DLR's run
rate leverage based on net debt including 50% of preferred stock
was 5.8x for the year ended Dec. 31, 2015, compared with 5.5x and
6.0x in 2014 and 2013, still appropriate for the 'BBB' rating.
Fitch forecasts that leverage will remain between 5.5x and 6.0x
over the next 12 - 24 months.

Fixed-charge coverage is good for the rating at 3.0x for the year
ended Dec. 31, 2015 versus 2.9x for both full year 2014 and 2013.
Fitch expects DLR's fixed-charge coverage will be between 2.7x and
3.0x over the next 12 - 24 months, driven by same-store net
operating income (NOI) growth offset by higher fixed charges. Fitch
defines fixed charge coverage as recurring operating EBITDA less
straight-line rents divided by total interest incurred and
preferred stock dividends.

Strategy Focused on Improving Unlevered Cash Flow

The lease-up of existing inventory is one of the company's top
priorities. Tenants across the social media, mobility, analytics,
and cloud segments are driving the majority of new demand for
Digital Realty's properties. Portfolio occupancy decreased 180
basis points (bps) year over year to 91.4% at Dec. 31, 2015 as a
result of consolidating newly acquired Telx properties operating at
occupancy levels well below the rest of DLR's portfolio. Quarterly
stabilized same store year-over-year cash NOI growth averaged 2.3%
in 2015 due primarily to a renewal leasing spread of 11.5% for the
year ended Dec. 31, 2015. During 2015, renewal activity represented
64.6% of lease signings based on square footage.

Comparisons for renewals were challenging for a time due to the
rolldown of peak rental rates signed prior to the financial crisis;
however, the company has recently been effective in leasing up its
existing properties and maintaining its tenant base. Over the next
several years, Fitch projects 2.5% to 4.7% same-store NOI growth,
driven primarily by developments coming on line and efficient
management of the aggregate portfolio inclusive of Telx.

Same-store NOI growth, cash flow from the lease-up of developments,
and increased cash flow from joint ventures, offset by a reduction
of EBITDA from the sale of non-core assets, should drive
fixed-charge coverage in the high 2.0x range over the next two
years, appropriate for a 'BBB' rating given Digital Realty's niche
property focus.

Global Platform

Digital Realty offers Turn-Key Flex, Powered Base Building,
colocation and interconnection space via its 139 operating
properties, including 110 throughout North America, 23 in Europe,
three in Australia and three in Asia. Top markets as of Dec. 31,
2015 were New York (13.2% of consolidated annualized base rent),
London (10.8%), Northern Virginia (10.4%), Dallas (10.4%), and
Silicon Valley (8.8%).

The company also benefits from a granular tenant roster, which
includes IBM (Rated 'A+'/Stable Outlook) at 7.5% of rent,
CenturyLink, Inc. ('BB+' IDR/Stable Outlook) at 6.1%, Equinix, Inc.
('BB' IDR/Stable Outlook) at 4.0%, Facebook, Inc. at 2.3% and AT&T
('A-' IDR/Stable Outlook) at 2.1%.

Good Access to Capital but Limited Secured Debt Market for Data
Centers

Since 2006, the company has issued $3.4 billion of common equity,
$1.9 billion of preferred equity including most recent issuance,
$3.5 billion of dollar-denominated unsecured bonds, and GBP700
million of sterling-denominated unsecured bonds not including the
April 2016 issuance. The company's sterling-denominated bonds
function as a natural hedge given the company's exposure to the
United Kingdom.

Additionally, the company holds a $2 billion global revolving
credit facility, refinanced in January 2016, which provides for
borrowings in Australian dollars, British pounds sterling, Canadian
dollars, Euros, Hong Kong dollars, Japanese yen, Singapore dollars,
and U.S. dollars with the ability to add additional currencies in
the future subject to certain conditions.

Despite the company's strong access to capital, the availability of
mortgage capital for data centers is not as deep compared with
other commercial real estate property types, limiting the sources
of contingent liquidity.

Deep Management Bench

The company has a strong management team in areas such as real
estate expertise as well as technical acumen, and it continues to
work collaboratively with its business partners such as VMware and
Compunext to provide accommodative data center solutions (e.g.,
direct connections to VMware vCloud Air, creation of the Global
Cloud Marketplace with various cloud service providers). Fitch
expects that most of Telx's employees will join DLR to manage the
colocation and interconnection business.

Less Contingent Liquidity for Data Centers

Data centers are specialized properties and technological
obsolescence over the long term is possible. However, there are
significant barriers to entry and medium-term IT trends are
favorable. Compared with other real estate assets, data centers
have a less liquid investment market with fewer potential buyers,
making these assets potentially more difficult to divest or borrow
against in a depressed market. These market characteristics can
reduce the ability of data centers to serve as a source of
contingent liquidity. Digital Realty's financial metrics are
intrinsically strong for the 'BBB' rating category; however, the
ratings are constrained by the data center properties being a
less-than-mature asset class and the less liquid market for trading
and financing these assets.

Digital Realty is committed to an unsecured funding profile.
However, the company's unsecured debt incurrence has outpaced the
growth of the unencumbered pool. Unencumbered assets (unencumbered
NOI divided by a stressed capitalization rate of 10%) covered net
unsecured debt by 2.1x as of Dec. 31, 2015, which is low for a
'BBB' rating.

Higher Operational Intensity from Telx Transaction

Fitch estimates that EBITDA margins will decline to 54% from
approximately 57% due to lower Telx margins, and that Telx's
colocation and interconnection business will represent
approximately 11% of DLR's total EBITDA. Telx owns only two assets,
with the remaining seven locations leased from third-party property
owners. As a result, DLR has become a tenant at these locations,
which increases lease renewal risk and adds a degree of operating
risk into the company's business. Fitch's negative rating
sensitivities for leverage may decline if the company further
increases its exposure to business segments with higher operating
risk.

Adequate Liquidity Coverage Ratio

Liquidity coverage (defined as liquidity sources divided by uses)
is adequate at 1.5x for the period from Jan. 1, 2016 to Dec. 31,
2017. Sources of liquidity include unrestricted cash less working
capital requirements, availability under the company's global
unsecured revolving credit facility, and projected retained cash
flows from operating activities after dividends and distributions.
Uses of liquidity include debt maturities as well as projected
recurring capital expenditures and cost-to-complete future
development.

The company's adjusted funds from operations (AFFO) pay-out ratio
was 81.4% in 2015 compared with 87.6% in 2014 and 83.9% in 2013,
all of which are indicative of the company's ability to generate
and retain moderate organic liquidity. Based on the current AFFO
pay-out ratio, the company retains approximately $110 million
annually.

Stable Outlook
The Stable Outlook reflects Fitch's expectation that metrics will
remain appropriate for the rating over the next one to two years.

KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for DLR include:
-- $850 million of annual development starts;
-- $750 million of annual development deliveries.

RATING SENSITIVITIES

The following factors may result in positive momentum in the rating
and/or Outlook:
-- Increased mortgage lending activity in the data center sector;
-- Fitch's expectation of fixed-charge coverage sustaining above
    3x (year end 2015 fixed charge coverage was 3.0x and 4Q15 run
    rate coverage is 2.8x);
-- Fitch's expectation of leverage (including 50% equity credit-
    to-preferred stock) sustaining below 4.5x (4Q15 run rate
    leverage is 5.8x and year end 2015 leverage is 6.4x).

The following factors may result in negative momentum in the rating
and/or Outlook:
-- Sustained declines in rental rates and same-property NOI;
-- Fitch's expectation of fixed-charge coverage sustaining below
    2.5x;
-- Fitch's expectation of leverage sustaining above 6x;
-- Base case liquidity coverage sustaining below 1x.

FULL LIST OF RATING ACTIONS

Fitch currently rates Digital as follows:

Digital Realty Trust, Inc.
-- IDR 'BBB';
-- Preferred stock 'BB+'.

Digital Realty Trust, L.P.
-- IDR 'BBB';
-- Unsecured revolving credit facility 'BBB';
-- Senior unsecured term loan facility 'BBB';
-- Senior unsecured notes 'BBB'.

Digital Stout Holding, LLC
-- Unsecured guaranteed notes 'BBB'.

Digital Euro Finco, LLC
-- Unsecured guaranteed notes 'BBB'.

The Rating Outlook is Stable.


EAST ORANGE: Trenk Dipasquale Approved as Committee's Co-Counsel
----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey authorized
the Official Committee of Unsecured Creditors in the Chapter 11
cases of East Orange General Hospital, Inc., et al., to retain
Trenk, Dipasquale, Della Fera & Sodono, P.C., as its co-counsel.

Trenk DiPasquale, as co-counsel, is expected to, among other
things:

   a. assist, advise and represent the Committee with respect to
the administration of the case and the exercise of oversight with
respect to the Debtors' affairs, including all issues arising from
or impacting the Debtors, the Committee or these chapter 11 cases;

   b. provide all necessary legal advice with respect to the
Committee's powers and duties; and

   c. assist the Committee in maximizing the value of the Debtors'
assets for the benefit of all creditors.

The order also provided that compensation on an hourly basis will
be approved by the Court upon the filing of fee applications.

Trenk DiPasquale will be submitting detailed statements to the
Court setting forth the services rendered and seeking compensation
and reimbursement of expenses.

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

The firm can be reached at:

         Joseph J. DiPasquale, Esq.
         Adam D. Wolper, Esq.
         TRENK, DiPASQUALE, DELLA FERA & SODONO, P.C.
         347 Mount Pleasant Avenue, Suite 300
         West Orange, NJ 07052
         Tel: (973) 243-8600
         E-mails: jdipasquale@trenklawfirm.com
                  awolper@trenklawfirm.com

                     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.


EASTERN LIVESTOCK: Kitchens Loses Bid to Dismiss Trustee's Suit
---------------------------------------------------------------
The Trustee, James A. Knauer, initiated an adversary proceeding by
filing the original complaint which was later amended. It now comes
before the Court on a Motion to Dismiss filed by Defendant, Stephen
N. Kitchens.

This adversary proceeding stems from the loss of ELC cattle which
were in Kitchens' custody and care in Bowling Green, Kentucky. The
Trustee, in his Original Complaint, asserted claims for (1) breach
of promissory note, (2) recovery on loans and advances, and (3)
unjust enrichment, all of which were based on monies owed to ELC
for the death of cattle in Kitchens' custody around January 15,
2008. In discovery, the Trustee learned that the indebtedness which
he sought to recover from Kitchens was owed not pursuant to a
promissory note but was instead owed pursuant to an alleged
unwritten agreement between ELC and Kitchens for the feed and care
of ELC cattle (the "Pasture Agreement"). The Trustee then moved the
Court for leave to amend the complaint based on this new
information. The Court granted the Trustee's motion and ordered
that the Amended Complaint relate back to the filing of the
Original Complaint.

In an Order dated March 18, 2016, which is available at
http://is.gd/k9M5r5from Leagle.com, Judge Basil H. Lorch of the
United States Bankruptcy Court for the Southern District of
Indiana, New Albany Division, denied Kitchens' Motion to Dismiss
the Plaintiff's First Amended Complaint.

The adversary case is James A. Knauer, Chapter 11 Trustee Of
Eastern Livestock Co., LLC, Plaintiff and Counter-Defendant, v.
Stephen N. Kitchens a/k/a/ Steve Kitchens d/b/a/ Buckhorn Cattle,
Defendant and Counter-Plaintiff, Adv. Proc. No. 13-59021 (Bankr.
S.D. Ind.).

The bankruptcy case is In re: Eastern Livestock Co., LLC, Debtor,
Case No. 10-93904-BHL-11 (Bankr. S.D. Ind.).

James A. Knauer, Trustee, Plaintiff, is represented by Jay P.
Kennedy, Esq. -- JKennedy@kgrlaw.com -- Kroger Gardis & Regas,
Amanda Dalton Stafford, Esq. -- ads@kgrlaw.com -- Kroger, Gardis &
Regas, LLP.

Stephen N. Kitchens, Defendant, is represented by April A Wimberg,
Esq. -- awimberg@bgdlegal.com -- Bingham Greenebaum Doll LLP.

                    About Eastern Livestock

Eastern Livestock Co., LLC, was one of the largest cattle
brokerage companies in the United States, with operations and
assets located in at least 11 states.  ELC was headquartered in
New Albany, Indiana, with branch locations across several states.
It shut operations in November 2010.

On Dec. 6, 2010, creditors David L. Rings, Southeast Livestock
Exchange, LLC, and Moseley Cattle Auction, LLC, filed an
involuntary Chapter 11 petition (Bankr. S.D. Ind. Case No.
10-93904) for the Company.  The creditors asserted $1.45 million
in claims for "cattle sold," and are represented by Greenebaum
Doll & McDonald PLLC.

Judge Basil H. Lorch III entered an order for relief on Dec. 28,
2010.  At the behest of the creditors, the Court appointed James
A. Knauer, Esq., as Chapter 11 trustee to operate Eastern
Livestock's business.  The Chapter 11 trustee is represented by
James M. Carr, Esq., at Baker & Daniels LLP, nka Faegre Baker
Daniels LLP, as counsel and Katz, Sapper & Miller, LLP, as
accountants.  BMC Group Inc. is the claims and notice agent.

The Debtor has disclosed $81,237,865 in assets and $40,154,698 in
papers filed in Court.  The Debtor, in its amended schedules,
disclosed $59,366,230 in assets and $40,154,697 in liabilities as
of the Chapter 11 filing.

An affiliate, East-West Trucking Co., LLC, filed a Chapter 7
petition (Bankr. S.D. Ind. Case No. 10-93799) on Nov. 23, 2010.
The petition was signed by Thomas P. Gibson, as manager.  Michael
J. Walro, appointed as Chapter 7 Trustee for East-West Trucking,
has tapped James T. Young, Esq., at Rubin & Levin, P.C., in
Indianapolis as counsel.  Mr. Gibson, together with his spouse,
Patsy M. Gibson, pursued a personal bankruptcy case (Bankr. S.D.
Ind. Case No. 10-93867) in 2010.  Kathryn L. Pry, the court-
appointed trustee for the Gibson's Chapter 7 case, tapped Dale &
Eke, P.C., as counsel.

The Court approved the appointment of Robert M. Fishman to mediate
the issue of the reasonableness of the proposed settlement with
Fifth Third Bank as contained in the Chapter 11 Plan proposed by
the Debtor.

The Court has confirmed the first amended plan of liquidation
filed by James A. Knauer, Chapter 11 trustee.  The Plan is
premised on the approval of a settlement reached between the
Chapter 11 Trustee and Fifth Third Bank settling the estate's
claims against Fifth Third in consideration of Fifth Third
agreeing to accept a pro rata charge and assessment of reasonable
administrative fees and expenses against its collected collateral
and the contribution of 10% of its collected collateral to the
payment of Allowed Class 4 Claims of general unsecured creditors.
The trustee has estimated that the Settlement may result in an
approximate 25% return to general unsecured creditors while
contributing to funding the Chapter 11 Case to allow the trustee
to continue collecting assets for distribution.


EFRON DORADO SE: Court Set to Hear Bid to Use Cash Collateral
-------------------------------------------------------------
A bankruptcy court is set to hear a motion of Efron Dorado SE to
use the cash collateral of PR Asset Portfolio 2013-1 International
Sub 1, LLC.

The U.S. Bankruptcy Court in Puerto Rico will take up the motion at
a hearing on May 18, 2016.

PRAPI asserts a lien on the company's accounts receivable arising
from the operation of a shopping center in Dorado, Puerto Rico.  

Efron Dorado is the owner of the real property where the shopping
center is located, according to court filings.

PRAPI had earlier opposed the use of its cash collateral, saying it
should not be forced to finance a bankruptcy proceeding that
"appears to have a minimum, if any, probability of reorganization."


                       About Efron Dorado Se

Efron Dorado Se, based in San Juan, Puerto Rico, filed for Chapter
11 bankruptcy protection (Bankr. D.P.R. Case No. 16-00283) on Jan.
20, 2016.  The petition was signed by David Efron, partner.

Charles Alfred Cuprill, Esq., at Charles A Cuprill, PSC Law Office,
serves as its bankruptcy counsel.

In its petition, the Debtor listed total assets of $33.2 million
and total debt of $15.2 million.  According to the schedules, the
Debtor owns the shopping mall known as Paseo Del Plata Shopping
Center located in Dorado, Puerto Rico; a parcel of land consisting
of 80 Cuerdas, identified as Quintas De Dorado; and a parcel of
land consisting of 30 Cuerdas known as Hernandez Farm.


EMERALD ACQUISITION: Moody's Assigns Ba2 CFR, Outlook Stable
------------------------------------------------------------
Moody's Investors Service has assigned a Ba2 corporate family
rating to the newly formed holding company, Emerald Acquisition
Limited (a/k/a "Russell Investments").  Moody's has also assigned a
Ba2-PD probability of default rating (PDR).

Concurrently, Moody's has assigned Ba2 ratings to a $650 million
7-year senior secured term loan and a $50 million revolving credit
facility issued by co-borrowers Russell Investments US
Institutional Holdco, Inc. and Russell Investments US Retail
Holdco, Inc.  The credit facilities will be used to partially
finance the previously announced $1 billion buyout of Russell
Investments by two private equity sponsors -- TA Associates and
Reverence Capital Partners -- from the London Stock Exchange Group
(LSEG).  The outlook on all ratings is stable.

                         RATINGS RATIONALE

The Ba2 corporate family rating reflects Russell Investment's
leading position in the large and growing outsourced chief
investment officer market segment and its established position as a
multi-asset solutions provider for institutional and retail
clients.  The rating is also supported by solid cash flow
generation driven by consistently high asset retention rates and
the company's broad geographic footprint.  While industry
fundamentals point to favorable growth dynamics from increasing
investment outsourcing, we believe Russell Investment's growth
trajectory may continue to be challenged by the increasingly
competitive dynamics in the OCIO market.  These challenges have
contributed to net outflows in recent years and Moody's expects
this headwind may remain over the near to medium term.  Moody's
believes success for Russell Investments in the OCIO market will be
much more dependent on relative investment performance and product
innovation now that the uncertainty around its future ownership has
been removed.

Pro-forma leverage at 5.7x (as calculated by Moody's, including
adjustments for operating leases and a $150 million future payment
obligation to LSEG ) is in line with our expectations for a
leveraged buyout transaction but still introduces high leverage
into the capital structure of Russell Investments and reduces the
firm's financial flexibility.  Moody's expects the company will use
free cash flow for reinvestment in the business for growth
resulting in modest deleveraging.  Required debt amortization is
minimal but the senior secured credit facility contains covenants
to capture excess cash flow and proceeds from asset sales.  Weak
profitability, as measured by pre-tax income margins also
constrains the rating.  The successful implementation of ongoing
business efficiency initiatives and incremental benefits from near
term savings identified by the private equity sponsors should help
offset near-term profit pressures driven by elevated outflows and
market volatility and lead to improved profitability over time.
Steady improvement in debt reduction and margin expansion will be a
principal driving factor behind the potential for future upgrades.

The company's ratings and/or outlook could see upward pressure if
Russell Investments reduces leverage below 3.0x; improves
profitability in part by realizing identified cost savings; or if
it recaptures and sustains it leadership position in the growing
OCIO market.

Conversely, the ratings could face downward pressure if the demand
for OCIO services declines or Russell Investments continues to lose
OCIO market share.  The rating could also be adversely impacted if
management fails to achieve anticipated cost savings, which will be
evidenced by pre-tax profit margin expansion.

These ratings were assigned with a stable outlook:

Emerald Acquisition Limited:

  Corporate family rating: Ba2
  Probability of default rating: Ba2-PD

Russell Investments US Institutional Holdco, Inc./Russell
Investments US Retail Holdco, Inc., as co-borrowers:

  $650 million senior secured term loan: Ba2
  $50 million senior secured revolving credit facility: Ba2

Russell Investments, head quartered in Seattle, WA, is a global
asset manager with 21 offices worldwide and $164 billion in assets
under management ("AUM"), excluding its overlay, as of Dec. 31,
2015.



EMERALD ACQUISITION: S&P Assigns 'BB' ICR, Outlook Stable
---------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'BB' issuer credit
rating on Emerald Acquisition Ltd.  The outlook is stable.

S&P also assigned its 'BB' issue-level rating on Russell
Investments U.S. Institutional Holdco Inc. and Russell Investments
U.S. Retail Holdco Inc. proposed $650 million first-lien term loan
B due 2023 and $50 million first-lien revolving credit facility due
2021.  Russell Investments U.S. Institutional Holdco Inc. and
Russell Investments U.S. Retail Holdco Inc. are two subsidiaries of
Emerald, which in turn guarantees the proposed debt issuances. S&P
also assigned a recovery rating of '3' to the proposed first-lien
term loan and first-lien revolving credit facility.  The '3'
recovery ratings indicate S&P's expectation for a meaningful
(50%-70%, lower half of the range) recovery in the event of payment
default.

"Our stable rating outlook on Emerald reflects that we anticipate
the company will maintain stable AUM while operating with debt to
adjusted EBITDA between 4.0x and 5.0x in the next 12 months," said
Standard & Poor's credit analyst Brian Estiz.

S&P could revise the outlook to negative or even lower the ratings
if the company experiences meaningful AUM outflows, if investment
performance significantly deteriorates, or if leverage exceeds 5.0x
on a sustained basis.

An upgrade looks unlikely in the next 12 months.  However, S&P
could revise the outlook to positive if leverage declines below
4.0x on a consistent basis, performance remains strong, and inflows
increase faster than anticipated.


FORESIGHT ENERGY: In Talks with Bondholders to Avoid Bankruptcy
---------------------------------------------------------------
Jodi Xu Klein, writing for Bloomberg News, reported that U.S. coal
miner Foresight Energy LP and a group of bondholders are closing in
on a deal in which billionaire founder Chris Cline would inject
cash to repay the creditors, according to people with knowledge of
the matter.

According to the report, the company needs an agreement to help
stave off bankruptcy amid the worst coal downturn in decades.
Under the deal being discussed, Cline would buy some or all of that
debt, said the people, who asked not to be named because the
discussions are private, the report related.  Cline may also invest
capital in Foresight's part-owner Murray Energy Corp., the people
said, the report further related.

A group of the miner's senior secured debt holders are seeking a
consent fee to agree to any terms, the people said, the report
added.  The latest discussions between Foresight and its
bondholders are still evolving and may fail, the people said, the
report said.

Foresight hired PJT Partners Inc. and Paul Weiss Rifkind Wharton &
Garrison as advisers, Bloomberg said, citing the people.  The
bondholders are being advised by Houlihan Lokey Inc. and Strook
Strook & Lavan. Goldman Sachs Group Inc. is advising Murray Energy,
Bloomberg added, further citing the people.

                    About Foresight Energy

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

Foresight Energy reported a net loss attributable to limited
partner units of $39.47 million on $984.85 million of total
revenues for the year ended Dec. 31, 2015, compared to net income
attributable to limited partner units of $70.19 million on $1.10
billion of total revenues for the year ended Dec. 31, 2014.

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

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

                          *     *     *

The Troubled Company Reporter on March 22, 2016, reported that
Standard & Poor's Ratings Services said it lowered its corporate
rating on St. Louis-based Foresight Energy L.P. to 'D' from
'CCC-'.

As reported by the TCR on March 29, 2016, Moody's Investors
Service
downgraded all ratings of Foresight Energy, LLC including the
corporate family rating to Caa3 from Caa1.


FOREST PARK: Court Set to Hear Bid to Assume Management Deal
------------------------------------------------------------
A bankruptcy court is set to hear a motion filed by Vibrant
Healthcare Southlake LLC to force Forest Park Medical Center at
Southlake LLC to either assume or reject their management
agreement.

The U.S. Bankruptcy Court for the Northern District of Texas will
take up the motion at a hearing on June 13, 2016.

Vibrant Healthcare, which manages and operates the company's
hospital in Southlake, Texas, had complained it has not received
payments for its fees since December 2014.  

Vibrant Healthcare is owed more than $1.6 million, according to
court filings.

                 About Forest Park Medical Center

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

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

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

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

GAHC3 Southlake TX Hospital LLC is the Debtor's largest unsecured
creditor, with more than $11.7 million in claims.  A list of the
Debtor's 20 largest unsecured creditors is available at
http://is.gd/IIdEIF


FREESEAS INC: Three Proposals Approved at Meeting of Shareholders
-----------------------------------------------------------------
FreeSeas Inc. announced that at the special meeting of the
Company's shareholders held on April 8, 2016, the shareholders
approved three proposals, as follows:

   1) granted discretionary authority to the Company's board of
      directors to first, (A) amend the Amended and Restated
      Articles of Incorporation of the Company to effect one or
      more consolidations of the issued and outstanding shares of
      common stock, pursuant to which the shares of common stock
      would be combined and reclassified into one share of common
      stock at a ratio within the range from 1-for-2 up to 1-for-
      200 and (B) determine whether to arrange for the disposition
      of fractional interests by shareholder entitled thereto, to
      pay in cash the fair value of fractions of a share of common

      stock as of the time when those entitled to receive such
      fractions are determined, or to entitle shareholder to
      receive from the Company's transfer agent, in lieu of any
      fractional share, the number of shares of common stock
      rounded up to the next whole number, provided that, (X) that

      the Company shall not effect Reverse Stock Splits that, in
      the aggregate, exceeds 1-for-200, and (Y) any Reverse Stock
      Split is completed no later than the first anniversary of
      the date of the special meeting;

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

   3) approved the potential issuance of more than 20% of the
      Company's issued and outstanding common stock at a price
      that is less than the greater of book or market value in
      accordance with the following potential future transactions:

      (i) one or multiple purchase agreements for the sale of
      common stock or securities convertible into common stock up
      to $2 million for working capital at a discount to the
      market price of up to 50%, to be entered into within 180
      days of the Special Meeting, (ii) one or multiple debt
      settlement agreements for the sale of common stock or
      securities convertible into common stock of up to $6 million

      for the settlement of trade or bank debt at a discount to
      the market price of up to 50%, to be entered into within 180

      days of the Special Meeting, and (iii) a purchase agreement
      for the sale of common stock or securities convertible into
      common stock up to $15 million for asset acquisitions at a
      discount to the market price of up to 65%, to be entered
      into within 180 days of the Special Meeting.

                      About FreeSeas Inc.

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

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

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

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

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


FTE NETWORKS: Posts $526,000 Net Income for Dec. 31 Quarter
-----------------------------------------------------------
FTE Networks, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q for the transition
period from Oct. 1, 2015, to Dec. 31, 2015.

For the three months ended Dec. 31, 2015, FTE Networks reported net
income attributable to common shareholders of $526,281 on $3.07
million of revenues compared to net income attributable to common
shareholders of $199,764 on $2.94 million of revenues for the same
period in 2014.

As of Dec. 31, 2015, the Company had $9.24 million in total assets,
$18.75 million in total liabilities, $437,380 in total temporary
equity and a $9.94 million total stockholders' deficiency.

As of Dec. 31, 2015, the Company had an accumulated deficit of
approximately $12.8 million.  In addition, the Company has a
working capital deficiency of $3.6 million as of Dec. 31, 2015.

"Management's plans are to continue to raise additional funds
through the sales of debt and equity.

"There is no assurance that additional financing will be available
when needed or that management will be able to obtain and close
financing, including the aforementioned transactions, on terms
acceptable to the Company and whether the Company will become
profitable and generate positive operating cash flow.  If the
Company is unable to raise sufficient additional funds, it will
have to develop and implement a plan to further extend payables and
reduce overhead until sufficient additional capital is raised to
support further operations.  There can be no assurance that such a
plan will be successful."

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

                      http://is.gd/bGVnJw

                     About FTE Networks, Inc.

FTE Networks, formerly known as Beacon Enterprise Solutions Group,
Inc., is a vertically integrated company with an international
footprint.  Since its inception, FTE Networks has steadily
advanced its management, operational and technical capabilities to
become a leading provider of services to the telecommunications
and wireless sector with a focus on turnkey solutions.  FTE
Networks provides a comprehensive array of services centered on
quality, efficiency and customer service.

FTE Networks reported a net loss attributable to common
shareholders of $3.63 million on $14.4 million of revenues for the
year ended Sept. 30, 2015, compared to net income of $436,000 on
$16.9 million of revenues for the year ended Sept. 30, 2014.


FUTUREWORLD CORP: Typenex, et al., Report 9.9% Stake as of April 11
-------------------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange
Commission, Typenex Co-Investment, LLC, Red Cliffs Investments,
Inc., JFV Holdings, Inc., and John M Fife reported that as of
April 11, 2016, they beneficially own 280,428,230 shares of common
stock of FutureWorld Corp. representing 9.99 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/PtvJ1U

                     About Futureworld Corp.

Saint Petersburg, Florida-based FutureWorld Corp. (FWDG) is a
provider of technologies and solutions to the global cannabis
industry.  FutureWorld, together with its subsidiaries, is focused
on the identification, acquisition, development, and
commercialization of cannabis related products and services, like
industrial hemp.

For the year ended March 31, 2015, the Company reported a net loss
of $1.40 million compared to a net loss of $156,319 for the year
ended March 31, 2014.

As of Dec. 31, 2015, Futureworld had $35.3 million in total
assets, $1.68 million in total liabilities and $33.6 million in
total stockholders' equity.


GENENEWS LTD: OSC Grants Management Cease Trade Order
-----------------------------------------------------
GeneNews Limited is providing this bi-weekly default status report
in accordance with National Policy 12-203 - Cease Trade Orders for
Continuous Disclosure Defaults.

On March 29, 2016, the Company disclosed that it had been granted a
Management Cease Trade Order by the Ontario Securities Commission.
The application for the MCTO was made in respect to the expected
late filing of its annual financial statements, management's
discussion and analysis, annual information form and the related
officer certifications for the financial year ended December 31,
2015 beyond the filing deadline of March 30, 2016.  In the
application, both James Howard-Tripp, Executive Chairman, and
Leslie Auld, Chief Financial Officer, consented to the issuance of
the MCTO and both are precluded from trading the Company's common
shares until such time as the cease trade order is no longer in
effect.  The MCTO does not generally affect the ability of
shareholders who are not insiders of the Company to trade their
securities.

The Company is continuing to work with its auditors to complete its
audited financial statements and the MD&A for the year ended
December 31, 2015, and currently expects completion and filing on
or before May 27, 2016.

Pursuant to the requirements of section 4.4 of National Policy
12-203 - Alternative Information Guidelines, the Company reports
the following:

There have been no material changes to the information contained in
its March 29, 2016 news release and the Company expects to file the
required filings on or before May 27, 2016; however, the Company
continues to work with its auditors to remedy the default and
complete its Annual Filings;

There have been no failures by the Company to fulfill its stated
intentions with respect to satisfying the provisions of the
alternative reporting guidelines;

There has not been, nor is there anticipated to be, any specified
default subsequent to the default which is the subject of the
Default Announcement; and

There is no other material information respecting the Company's
affairs that has not been generally disclosed.

Until the Required Filings have been filed, the Company intends to
continue to satisfy the provisions of the alternative information
guidelines specified in Section 4.4 of NP 12-203 by issuing
bi-weekly default status reports in the form of further news
releases, which will be filed on SEDAR.

                          About GeneNews

GeneNews -- http://www.GeneNews.com-- is focused on developing and
commercializing proprietary molecular diagnostic tests for the
early detection of diseases and personalized health management,
with a primary focus on cancer-related indications.  The Company's
lead product, ColonSentry(R), is the world's first blood test to
assess an individual's current risk for colorectal cancer.
GeneNews' common shares trade on the Toronto Stock Exchange under
the symbol 'GEN'.  


GENERAL CABLE: Egan-Jones Cuts FC Senior Unsecured Rating to B
--------------------------------------------------------------
Egan-Jones Ratings Company downgraded the foreign currency senior
unsecured rating on debt issued by General Cable Corp. to B from B+
on March 24, 2016.  EJR also raised the rating on commercial paper
issued by the Company to B from C.

Based in Highland Heights, Kentucky, General Cable Company
manufactures and distributes copper, aluminum, and optical fiber
cables, for energy, construction, industrial, specialty and
communications sectors.



GENESIS HEALTHCARE: S&P Affirms 'BB+' Rating on $295MM Bonds
------------------------------------------------------------
Standard & Poor's Ratings Services revised its outlook to negative
from stable and affirmed its 'BB+' long-term rating on Genesis
HealthCare System, Ohio's $295 million series 2013 fixed-rate
revenue bonds issued on behalf of Genesis HealthCare System's
Obligated Group.

"The negative outlook primarily reflects our view of Genesis'
operational challenges in fiscal 2015 after essentially a break
even performance in fiscal 2014; and unrestricted reserves, while
generally stable, that remain under pressure after Genesis' sizable
2013 debt issuance," said Standard & Poor's credit analyst Kevin
Holloran.

S&P assessed Genesis' enterprise profile as strong, characterized
by a solid market position with a comprehensive set of service
offerings, although the service area is somewhat limited by its
smaller population and economy.  Standard & Poor's assessed the
financial profile as vulnerable with Genesis' seeing significant
operational losses in both fiscal 2013 and again most recently in
fiscal 2015.

The negative outlook reflects S&P's view of Genesis' return to
sizable operating losses, after briefly improving operating income
in fiscal 2014 to essentially break even.  Genesis' balance sheet
provides some limited financial stability, as does its recent track
record of physician recruitment, its sustained market share, and
broad spectrum of clinical offerings; however Genesis will need to
realize operational efficiencies to return to operational
stability.

A lower rating is possible should Genesis fail to hit its 2016
operational improvement targets such that coverage remains below
2x, or should balance sheet metrics unexpectedly weaken below
current levels.

The 2013 debt issuance significantly strained key balance sheet and
coverage metrics for Genesis for the near term.  Despite this
strain, this most recent outlook action is based on Genesis'
operational struggles seen in two of its last three fiscal years
and projected to continue, albeit at an improved level, in fiscal
2016.  Given this trajectory, S&P do not anticipate raising the
rating during the one-year outlook period.  Over a longer time
frame, S&P could raise the rating if Genesis successfully realizes
all operational efficiencies commensurate with projections, and
returns to stronger operations, which should also gradually improve
unrestricted reserves.

Genesis is now a single inpatient facility (221 beds) located in
Zanesville, Ohio (about 55 miles east of Columbus).



GOODRICH PETROLEUM: Exchange Offers Fail to Meet Threshold
----------------------------------------------------------
Goodrich Petroleum Corporation announced in a press release final
results of its offers to exchange newly issued shares of common
stock, par value $0.20 per share, for any and all of its Existing
Unsecured Notes and for any and all shares of its Existing
Preferred Stock.  The Exchange Offers expired at 5:00, New York
City time, on April 8, 2016.  Because the minimum tender conditions
of the Exchange Offers were not met, the Company has not accepted
for exchange any of the Existing Unsecured Notes or shares of
Existing Preferred Stock validly tendered and not withdrawn prior
to the Expiration Date.  Also, a quorum was not reached at the
Company's special meeting of stockholders on
April 8, 2016, with 29,740,123 shares of Common Stock present in
person or by proxy at the meeting, representing only 38.75% of the
issued and outstanding shares of the Company's Common Stock as of
the Feb. 5, 2016, record date.  The meeting was not further
adjourned.

Unsecured Notes Exchange Offer Results

American Stock and Transfer & Trust Company, LLC has advised the
Company that as of 5:00 p.m., New York City time, on April 8, 2016,
approximately 62% of the Existing Unsecured Notes eligible for
exchange were tendered, including all convertible notes converted
to Common Stock since Dec. 31, 2015, broken out as follows:

   * $80,308,000 of the 8.875% Senior Notes due 2019 were validly
     tendered and not properly withdrawn pursuant to the tender
     offer, representing approximately 69% of the 2019 Notes
     offered for exchange;

   * $103,000 of the 3.25% Convertible Senior Notes due 2026 were
     validly tendered and not properly withdrawn pursuant to the
     tender offer, representing approximately 24% of the 2026   
     Notes offered for exchange;

   * $2,812,000 of the 5.00% Convertible Senior Notes due 2029
     were validly tendered and not properly withdrawn pursuant to
     the tender offer, representing approximately 42% of the 2029
     Notes offered for exchange;

   * $42,788,000 of the 5.00% Convertible Senior Notes due 2032   
     were validly tendered and not properly withdrawn pursuant to
     the tender offer, representing approximately 45% of the 2032
     Notes offered for exchange; and

   * $25,106,000 of the 5.00% Convertible Exchange Senior Notes
     due 2032 were validly tendered and not properly withdrawn
     pursuant to the tender offer, representing approximately 98%
     of the 2032 Exchange Notes offered for exchange.

Preferred Exchange Offer Results

The Exchange Agent, has advised the Company that as of 5:00 p.m.,
New York City time, on April 8, 2016, approximately 43% of shares
of Existing Preferred Stock eligible for exchange were tendered,
including all convertible preferred stock converted to Common Stock
since Dec. 31, 2015, broken out as follows:

  * 286,075 shares of 5.375% Series B Cumulative Convertible
    Preferred Stock were validly tendered and not properly
    withdrawn pursuant to the tender offer, representing
    approximately 19% of the Series B Preferred Stock offered for
    exchange;

  * 1,107,326 depositary shares each representing 1/1000th of a
    share of the Company's 10.00% Series C Cumulative Preferred
    Stock were validly tendered and not properly withdrawn
    pursuant to the tender offer, representing approximately 35%
    of the Series C Preferred Stock offered for exchange;

  * 1,275,424 depositary shares each representing 1/1000th of a
    share of the Company's 9.75% Series D Cumulative Preferred
    Stock were validly tendered and not properly withdrawn
    pursuant to the tender offer, representing approximately 34%
    of the Series D Preferred Stock offered for exchange; and

  * 2,488,652 depositary shares each representing 1/1000th of a
    share of the Company's 10.00% Series E Cumulative Convertible
    Preferred Stock were validly tendered and not properly
    withdrawn pursuant to the tender offer, representing
    approximately 70% of the Series E Preferred Stock offered for
    exchange.

As the Company has previously announced, the Company has elected to
exercise its right to a grace period with respect to certain
interest payments due March 15, 2016, and April 1, 2016, on the
Company's 8.875% Senior Notes due 2019, 8.00% Second Lien Senior
Secured Notes due 2018, 8.875% Second Lien Senior Secured Notes due
2018, 5.00% Convertible Senior Notes due 2029, 5.00% Convertible
Senior Notes due 2032 and our 5.00% Convertible Exchange Senior
Notes due 2032.  Such grace periods permit the Company 30 days to
make the interest payments before an event of default occurs under
the respective indentures governing the notes.

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

                    http://is.gd/kmDa4T

                      About Goodrich

Goodrich Petroleum Corporation is an independent oil and natural
gas company engaged in the exploration, development and production
of oil and natural gas on properties primarily in (i)  Southwest
Mississippi and Southeast Louisiana, which includes the Tuscaloosa
Marine Shale Trend, (ii) Northwest Louisiana and East Texas, which
includes the Haynesville Shale, and (iii) South Texas, which
includes the Eagle Ford Shale Trend.

Goodrich Petroleum reported a net loss of $479.42 million on $77.65
million of revenues for the year ended Dec. 31, 2015, compared to a
net loss of $353.13 million on $208.55 million of revenues for the
year ended Dec. 31, 2014.  As of Dec. 31, 2015, Goodrich had $98.97
million in total assets, $507.05 million in total liabilities and a
total deficit of $408.08 million.

The Company's auditors Ernst & Young LLP, Houston, Texas, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has near term liquidity constraints and is not in
compliance with their Current Ratio covenant that raise substantial
doubt about its ability to continue as a going concern.


GOODRICH PETROLEUM: S&P Lowers CCR to 'D' on Ch. 11 Filing
----------------------------------------------------------
Standard & Poor's Ratings Services lowered its corporate credit
rating on U.S.-based oil and gas exploration and production company
Goodrich Petroleum Corp. to 'D' from 'SD'.

At the same time, S&P lowered its issue-level rating on the
company's second-lien debt to 'D' from 'CC'.  The recovery rating
is '5' on these notes, indicating S&P's expectation of modest (10%
to 30%, higher half of the range) recovery.  S&P also lowered the
issue level rating on the company's 3.25% convertible notes due
2026 and the 5% convertible notes due 2029 to 'D' from 'CC'.  The
recovery rating on these notes due is '6', indicating S&P's
expectation of negligible (0% to 10%) recovery.

The 'D' rating reflects S&P's view Goodrich Petroleum's
announcement that it has filed for Chapter 11 and will reorganize.



HAGGEN HOLDINGS: Wants Authority to Monetize Propco Assets
----------------------------------------------------------
Haggen Holdings, LLC and its affiliated debtors ask the U.S.
Bankruptcy Court for the District of Delaware for authorization to
take corporate actions with respect to non-debtor subsidiaries,
Haggen Property Holdings, LLC ("PropCo Holdings"), Haggen Property
South, LLC ("PropCo South"), Haggen Property North, LLC ("PropCo
North") and Haggen Property Holdings III, LLC ("HPH III"), to
monetize their assets.

Haggen Holdings is either the direct or indirect parent to PropCo
Holdings and each of the PropCo Entities.  Each of the PropCo
Entities owns various real estate interests.

PropCo Holdings is a direct subsidiary of Haggen Holdings and an
intermediate holding entity of PropCo South and PropCo North.
PropCo Holdings owns the entire membership of both companies.
Haggen Holdings is also the direct parent entity of HPH III. HPH
III owns certain real property interests.

The Debtors relate that Albertson's LLC has offered to buy certain
real estate assets from the PropCo Entities related to the
operations of three of their core stores ("ABS/PropCo
Transaction").  Specifically, Albertson's has offered to purchase:
     
     (i) PropCo North's fee interest in property located at 17520
SR 9 Southeast, Snohomish, WA;

    (ii) PropCo North's ground lease in property located at 1690
Allen Creek Road, Grants Pass, OR; and

   (iii) HPH III's ground lease in property located at 8611
Steilacoom Blvd, S.W., Tacoma, WA.

In addition to the PropCo Entities' interests in the three
properties subject to the ABS/PropCo Transaction, the PropCo
Entities own fee interests in another 13 properties and are the
ground lessors for an additional 12 properties.

The Debtors aver that upon consummation of the Albertson's
Transaction, the Debtors will have sold or shut down substantially
all of their operating assets.  Haggen Holdings has determined that
it would be beneficial to monetize the assets of the PropCo
Entities including, but not limited to, those real estate interests
that are the subject of the ABS/PropCo Transaction, as well as the
other 25 interests in real property.

The Debtors tell the Court that the PropCo Entities are engaged in
a marketing process for the remainder of their assets and have
received offers on 12 of the other real property assets
("Properties").  The buyers of each of the Properties desire to
close on such transactions as soon as possible.

The Debtor's Motion is scheduled for hearing on April 26, 2016 at
10:00 a.m.  The deadline for the filing objections to the Debtor's
Motion is set on April 15, 2016 at 4:00 p.m.

Haggen Holdings, LLC, and its affiliated debtors are represented
by:

          Matthew B. Lunn, Esq.
          Robert F. Poppiti, Jr., Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Telephone: (302)571-6600
          Facsimile: (302)571-1256
          E-mail: mlunn@ycst.com
                  rpoppiti@ycst.com

                 - and -

          Frank A. Merola, Esq.
          Sayan Bhattacharyya, Esq.
          Elizabeth Taveras, Esq.
          STROOCK & STROOCK & LAVAN LLP
          180 Maiden Lane
          New York, NY 10038
          Telephone: (212)806-5400
          Facsimile: (212)806-6006
          E-mail: fmerola@stroock.com
                  sbhattacharyya@stroock.com

                      About Haggen Holdings

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

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

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

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

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

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

In September 2015, T. Patrick Tinker, assistant U.S. trustee for
Region 3, appointed seven creditors to the official committee of
unsecured creditors.


HARBORVIEW TOWERS COUNCIL: Hires Rees Broome as Special Counsel
---------------------------------------------------------------
Council of Unit Owners of the 100 Harborview Drive Condominium
seeks authority from the U.S. Bankruptcy Court for the District of
Maryland to employ Rees Broome, PC, as its special counsel, nunc
pro tunc to March 9, 2016.

HarborView Towers Council requires Rees Broome to assist with the
condominium litigation and claims asserted by Penthouse 4C, LLC,
Mr. Ancel, Paul Clark and other unit owners, and to continue in
assessment collection matters and general condominium assistance
for the association.

The majority of the work in the Chapter 11 case will be performed
by Robert J. Cunningham.  Cunningham's practice focuses on complex
corporate litigation, condominium association law, construction
defect cases, and commercial real estate disputes, and his clients
include closely-held business owners, residential and commercial
builders, condominium associations, home owners, corporate
shareholders, copyright holders, business partners and land
owners.

Rees Broome will be paid at these hourly rates:

      Shareholders                    $330-$475
      Associates/Counsel              $350
      Paraprofessionals               $100

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

In the one-year period prior to the petition date, Rees Broome was
paid approximately $138,584.27 for prepetition services and
expenses rendered to the Debtor. On the petition date, Rees Broome
was owed approximately $80,735.28 by the Debtor.

Rees Broome is seeking $25,000 as a retainer for the services to be
rendered and expenses to be incurred during the Chapter 11 case.

Debtors has been involved in contested mandatory arbitration and
litigation matters with Penthouse 4C, LLC and James W. Ancel, Sr.
that resulted in judicial confirmation of two arbitration awards
against the Debtor in the amounts of $1,252,487 and $1,594,762,
respectively, plus a money judgment in the amount of $609,030.02.
The arbitration award of $1,252,487 was paid and satisfied by the
Debtor in September 2012. In an effort to collect on the most
recent money judgment of $609,030.02, Penthouse 4C issued writs of
garnishments on the Debtor's bank accounts at Howard Bank and
Citizens Bank in January 2016. In February 2016, Penthouse 4C
further garnished the Debtor's management company, Barkan
Management, LLC.

Robert J. Cunningham, lawyer of Rees Broome, PC 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.

Rees Broome can be reached at:

     Robert J. Cunningham, Esq.
     REES BROOME, PC
     7101 Wisconsin Avenue, Suite 1201
     Bethesda, MD 20814
     Tel: (301) 222-0152

                      About HarborView Towers Council

Council of Unit Owners of the 100 Harborview Drive Condominium, a
condominium association that maintains and operates The HarborView
Towers, a 30-story building with 249 luxury condominium units and a
health club, in Baltimore's Inner Harbor, sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Md. Case No. 16-13049)
on March 9, 2016. Dr. Reuben Mezrich signed the petition as
president. The Debtor estimated assets in the range of $10 million
to $50 million and liabilities of up to $50 million.

Yumkas, Vidmar, Sweeney & Mulrenin, LLC represents the Debtor as
counsel. Judge James F. Schneider is assigned to the case.

Creditors have until July 5, 2016, to file their proofs of Claim.


HARBORVIEW TOWERS COUNCIL: Howard Bank Wants Adequate Protection
----------------------------------------------------------------
Howard Bank asks the U.S. Bankruptcy Court for the District of
Maryland to order debtor Council of Unit Owners of the 100
Harborview Drive Condominium to provide it with adequate
protection.

Howard Bank relates that the Debtor is indebted to it by virtue of
a Renovation Loan, which, as of the Petition date has an
outstanding principal balance in the amount of $7,821,824.  Howard
Bank further relates that the Debtor is also obligated to it under
a Letter of Credit Agreement and Letter of Credit Note in the
amount of $280,134.  As of Petition Date, the Letter of Credit has
not been drawn.

Howard Bank tells the Court that the Debtor's bankruptcy case was
prompted by the garnishment of its bank accounts by Penthouse 4C,
LLC ("Penthouse LLC") and James W. Ancel, Sr. ("Ancel," and
together with Penthouse LLC, "PH4C") who hold an outstanding
judicially-confirmed arbitration award and a separate money
judgment against the Debtor.  The garnished bank accounts included
the Debtor's bank accounts at Howard Bank.  The Debtor filed an
emergency motion for use of cash collateral, seeking authority to
use the funds in the garnished accounts in order to pay operating
expenses pursuant to a budget.  Howard Bank, the Debtor and PH4C
consented to the use of cash collateral in the accounts pursuant to
the Interim Cash Collateral Order.

The Debtor filed its Utilities Motion, which sought to prohibit
utility providers from altering, refusing or discontinuing utility
services and to consider utility providers as adequately assured of
payment for future utility services.  Harbor Bank filed a limited
objection to the Utilities Motion, requesting that the Court
include Adequate Protection Provisions in the interim and final
utilities orders, which provide:

     (a) The terms and conditions of the Order are subject to any
cash collateral orders in effect; and

     (b) Howard Bank shall not be subject to liability pursuant to
Maryland Rule 2-645(j) or otherwise to Penthouse 4C, LLC or James
W. Ancel, Sr. for the Debtor's use of funds from bank accounts
garnished before the Petition Date, whether the Debtor's use of
funds is for payment of utilities or for any other purpose.

The Court granted the Debtor's Utilities Motion and included the
Adequate Protection Provisions in the interim Utility Order.

Howard Bank relates that PH4C filed Penthouse 4C, LLC's Motion to
Dismiss Bankruptcy Case for Lack of Authority.  Howard Bank further
relates that it cannot be determined at this time whether the
Motion to Dismiss will be granted and that in the event that it is,
or in the event that the parties otherwise find themselves in front
of another court, it is critical that Howard Bank be protected from
liability as garnishee for the Debtor's use of funds from the
accounts that were garnished by PH4C.

Howard Bank contends that the Court has observed at the Utilities
Hearing that PH4C appears to have changed its position as to
whether the Bankruptcy Court has jurisdiction, in connection with
PH4C's Motion to Dismiss.

"Because of the uncertainty of PH4C's position and the interim
nature of the utility Order and the Interim Cash Collateral Order,
out of an abundance of caution, Howard Bank files this emergency
motion seeking entry of a separate order confirming that Howard
Bank will not be subject to liability, as a garnishee, for the
Debtor's use of any funds from the garnished accounts," Howard Bank
avers.

Howard Bank tells the Court that the Renovation Loan is secured by
a perfected first priority security interest in all of the Debtor's
assets.  It further tells the Court that the Debtor's obligations
under the Letter of Credit Agreement and the Letter of Credit Note
are secured by a Assignment of Deposit Account, granting to Howard
Bank a security interest in Certificate of Deposit 717518.

Howard Bank is represented by:

          Michael D. Nord, Esq.
          Lisa Bittle Tancredi, Esq.
          GEBHARDT & SMITH LLP
          One South Street, Suite 2200
          Baltimore, MD 21202
          Telephone: (410)385-5072
          Facsimile: (443)957-1929
          E-mail: mnord@gebsmith.com
                 ltancredi@gebsmith.com

                  About Harborview Towers Council

Council of Unit Owners of the 100 Harborview Drive Condominium is a
condominium association ("Harborview Towers Council") that
maintains and operates The HarborView Towers, a 30-story building
with 249 luxury condominium units and a health club, in Baltimore's
Inner Harbor.

The Harborview Towers Council has been involved in contested
mandatory arbitration and litigation matters with Penthouse 4C, LLC
and James W. Ancel, Sr., that resulted in judicial confirmation of
two arbitration awards against the Debtor in the amounts of
$1,252,487 and $1,594,762, respectively, plus a money judgment in
the amount of $609,030.  The arbitration award of $1,252,487 was
paid and satisfied by the Debtor in September 2012.

The Harborview Towers Council sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Md. Case No. 16-13049) on March 9,
2016.  Dr. Reuben Mezrich, the president, signed the petition.
Judge James F. Schneider is assigned to the case.

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

Yumkas, Vidmar, Sweeney & Mulrenin, LLC, serves as counsel to the
Debtor.


HARBORVIEW TOWERS COUNCIL: Penthouse 4C Asks for Case Dismissal
---------------------------------------------------------------
Penthouse 4C, LLC, asks the U.S. Bankruptcy Court for the District
of Maryland to dismiss Council of Unit Owners of the 100 Harborview
Drive Condominium's bankruptcy case for lack of authority to file.

Penthouse 4C relates that the Debtor's by-laws provide that the
Debtor must have the express authority of a majority of Unit Owners
in order to file bankruptcy.  It alleges that the Debtor did not
have the requisite authority of a majority of unit owners to file
the Bankruptcy Case.  Penthouse 4C further alleges that instead,
the Board passed a Resolution of the Board of Directors of the
Council of Unit Owners of the 100 Harborview Drive Condominium,
which purported to authorize the filing of the bankruptcy case.

Penthouse 4C contends that the Chapter 11 petition was filed
without authority, and the bankruptcy case must be dismissed as an
unauthorized filing.

Penthouse 4C, LLC, is represented by:

          Richard L. Wasserman, Esq.
          Laura S. Bouyea, Esq.
          VENABLE LLP
          750 East Pratt Street, Suite 900
          Baltimore, MD 21202
          Telephone: (410)244-7400
          Facsimile: (410)244-7742
          E-mail: rlwasserman@venable.com
                  lsbouyea@venable.com

                  About Harborview Towers Council

Council of Unit Owners of the 100 Harborview Drive Condominium is a
condominium association ("Harborview Towers Council") that
maintains and operates The HarborView Towers, a 30-story building
with 249 luxury condominium units and a health club, in Baltimore's
Inner Harbor.

The Harborview Towers Council has been involved in contested
mandatory arbitration and litigation matters with Penthouse 4C, LLC
and James W. Ancel, Sr., that resulted in judicial confirmation of
two arbitration awards against the Debtor in the amounts of
$1,252,487 and $1,594,762, respectively, plus a money judgment in
the amount of $609,030.  The arbitration award of $1,252,487 was
paid and satisfied by the Debtor in September 2012.

The Harborview Towers Council sought protection under Chapter 11 of
the Bankruptcy Code (Bankr. D. Md. Case No. 16-13049) on March 9,
2016.  Dr. Reuben Mezrich, the president, signed the petition.
Judge James F. Schneider is assigned to the case.

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

Yumkas, Vidmar, Sweeney & Mulrenin, LLC, serves as counsel to the
Debtor.


HARRINGTON MACHINE: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------------
Debtor: Harrington Machine and Tool Company Inc.
        1027 Chestnut Street
        Franklin, PA 16323

Case No.: 16-10340

Chapter 11 Petition Date: April 12, 2016

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

Judge: Hon. Thomas P. Agresti

Debtor's Counsel: Daniel P. Foster, Esq.
                  FOSTER LAW OFFICES
                  PO Box 966
                  Meadville, PA 16335
                  Tel: 814.724.1165
                  Fax: 814.724.1158
                  E-mail: dan@mrdebtbuster.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Thomas R Harrington, vice president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/pawb16-10340.pdf


HATTIESBURG PSD: Moody's Lowers GO Rating to Ba2, Outlook Negative
------------------------------------------------------------------
Moody's Investors Service has downgraded Hattiesburg Public School
District's (MS) GO rating to Ba2 from Baa3 and removed the rating
from review for possible downgrade started on Feb. 17, 2016,
affecting $5.1 million in Moody's rated debt.  The outlook is
negative.

The downgrade is driven by a significant contraction of the
financial position over the past year and reflects the district's
trend of structural imbalance leading to severe erosion of reserves
and liquidity.  Further, the rating incorporates a weak
socioeconomic profile, elevated pension liability, stable tax base
with institutional presence and a low debt burden with rapid
amortization.  The outlook is negative.

Rating Outlook

The negative outlook reflects ongoing risks from the district's
financial operations given management's inability to raise
revenues, the maturity of short term borrowing, and pending board
changes.  The outlook further incorporates the district's inability
to provide a substantive projection for fiscal 2016's financial
performance and the continued potential for state conservatorship.

Factors that Could Lead to an Upgrade

Trend of structurally balanced operations leading to significant
improvement of reserves and liquidity

Significant improvement of socio-economic profile

Factors that Could Lead to a Downgrade

  Continuation of structural imbalance leading to further erosion
   of reserves
  Significant tax base contraction

Legal Security

The district's rated debt is secured with an unlimited general
obligation and full faith and credit pledge.

Use of Proceeds
Not Applicable

Obligor Profile
Hattiesburg Public School District is located in southern
Mississippi in Forrest County (Aa3) with a portion of the district
extending into Lamar County.  The district provides K-12 education
and reported enrollment of approximately 4,000 students for the
fiscal 2015 school year.

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


HORSEHEAD HOLDING: DIP Milestone Deadlines Extension Sought
-----------------------------------------------------------
The Official Committee of Unsecured Creditors asks the U.S.
Bankruptcy Court for the District of Delaware to extend the
milestone deadlines established in the Court's Final DIP Financing
Order.

The Committee contends that following negotiations between the
Committee, DIP Lenders, and debtors Horsehead Holding Corp., et
al., the parties agreed to extend the DIP Milestone Deadlines by an
additional 15 days in the Final DIP Order.

The extended DIP Milestone deadlines are as follows:

     (a) Within 55 days of the Petition Date, March 28, 2016:
filing of a plan of reorganization that is acceptable to the
Required Lenders and the Ad Hoc Group of Prepetition Senior Secured
Noteholders, on the one hand, and the Debtors, on the other hand
("Acceptable Plan") and disclosure statement with respect to the
Acceptable Plan;

     (b) Within 90 days of the Petition Date: obtain court approval
of the Disclosure Statement;

     (c) Within 130 days of the Petition Date: obtain confirmation
of the Acceptable Plan;

     (d) Within 132 days of the Petition Date: obtain entry of
Canadian court order recognizing the Acceptable Plan; and

     (e) Within 145 days from the Petition Date (i.e. June 26,
2016): consummation of the Acceptable Plan.

The Official Committee contends that pursuant to the Revised
Budget, more than adequate cash availability exists to extend the
current DIP Milestones by at least 30 days.  The Committee further
contends that DIP Milestones currently require a chapter 11 plan
effective date of June 26, 2016.  It relates that the Revised
Budget projects $22 million of availability under the DIP facility
plus $3.7 million of cash as of July 2, 2016. "Given the budgeted
run rate and anticipated spend, the Debtors should have adequate
liquidity to operate for at least an additional thirty (30) days,"
the Official Committee avers.

"Despite the Committee's request for prompt delivery of a business
plan and draft chapter 11 plan/plan term sheet from the Debtors and
DIP Lenders – including the Committee's expectation based on
informal discussions that it would receive a chapter 11 plan
proposal from the DIP Lenders by Friday, March 11, 2016 – the
Committee first received a copy of the business plan (which
apparently was still being reviewed by the DIP Lenders'
restructuring advisors) late on March 16, 2016 and met in-person
with the Debtors and their advisors on March 17, 2016 to discuss
the business plan... However, this business plan remains subject to
further review and diligence by the DIP Lenders and the Committee.
Accordingly, the business plan is still subject to revision and
further negotiation. Once the business plan is refined and
finalized based on input from all parties, the Committee expects
that plan to serve as the basis for a valuation analysis of the
Debtors' assets, which analysis is critical to the negotiation of
an acceptable plan including proposed recoveries for unsecured
creditors," the Official Committee contends.

The Official Committee of Unsecured Creditors is represented by:

          Sharon L. Levine, Esq.
          Bruce Buechler, Esq.
          Philip J. Gross, Esq.
          LOWENSTEIN SANDLER LLP
          65 Livingston Avenue
          Roseland, NJ 07068
          Telephone: (973)597-2500
          Facsimile: (973)597-6247
          E-mail: slevine@lowenstein.com
                  bbuechler@lowenstein.com
                  pgross@lowenstein.com

                 - and -

          Howard A. Cohen, Esq.
          DRINKER BIDDLE & REATH LLP
          222 Delaware Avenue, Ste. 1410
          Wilmington, DE 19801
          Telephone: (302)467-4200
          Facsimile: (302)467-4201
          E-mail: howard.cohen@dbr.com

                   About Horsehead Holding Corp.

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

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

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

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


HORSEHEAD HOLDING: Equity Committee Appointment Sought
------------------------------------------------------
Guy Spier, manager of the Aquamarine Fund, and Phil Town, managing
partner of Rule One Partners, LLC, ask the U.S. Bankruptcy Court
for the District of Delaware, to order the appointment of an Equity
Committee.

                     Guy Spier's Pro Se Motion

"Justice Sontchi, Horsehead did not file for Chapter 11 protection
from its creditors because it was insolvent.  Horsehead filed
because its bank accounts were frozen pursuant to technical default
on a small line of credit.  But rather than work with the company
to cure that default, the creditors took a course of action which
needlessly and precipitously dragged the company into your court
and into the expensive and value-destroying process that we now
find ourselves," Mr. Spier contends.

Mr. Spier tells the Court that the ad hoc group is acting solely to
maximize its own return, leaving all the other stakeholders to
fight for the scraps.  He further tells the Court that if the
proceedings were to continue on their current path, through a
foreshortened chapter 11 and into a 363 sale, the ad hoc group will
likely have gained control of an extraordinarily valuable asset for
a fraction of its intrinsic value.

Mr. Spier cites the following statements, among others, in support
of an Equity Committee:

     (1) The US Trustee's decision appears to ignore GAAP
accounting values.  As of the last date of publicly available
information Horsehead showed share-holders equity of more than $400
million and assets in excess of $1 billion.  As the leading
recycler of zinc dust in the United States with a dominant share of
Electric Arc Furnace Mills has enormous franchise value which would
point to a value will in excess of the book value of the assets.
The US Trustee's decision ignores the book value of the assets, and
seems to assume that the value of Horsehead inexplicably sunk by
more than $400 million over the last 6 months.

     (2) The US Trustee's decision appears to ignore KPMG's
valuation report.  KPMG produced a carefully reasoned report
showing that the company has a value of more than $1 billion -
again showing enormous value in the equity. Yet, the US Trustee's
decision seems to ignore the values established by KPMG.

     (3) Burden of proof.  Given the extraordinarily clear and
compelling evidence that was given in support of recovery to the
equity, the US Trustee appears to completely ignore the evidence,
but gives no reasoning of its own. The US Trustee should show
reasons why an equity committee should not be formed rather than
the other way around.

     (4) The equity holders are the only party whose interest is
all the stakeholders.  At best, the company's creditors are only
interested in recovering their principal and interest.  At worst,
the intent of the creditors is to squash down the perceived value
of Horsehead so that they can acquire the assets in a 363 sale at
as low a price as possible.

                     Phil Town's Pro Se Motion

Phil Town contends that Rule One Capital owns over 3 million shares
of Horsehead Holding Corp.  He further contends that about 170 of
his students have individually purchased Horsehead shares and that
Rule One Capital and his students together, control over 6 million
shares of Horsehead, or about 10% of its equity.

"Sir, Horsehead assured equity holders that the company's financial
position was strong in its public filings prior to its bankruptcy.
It did not notify equity holders that it required additional
capital from equity holders at any point before its bankruptcy
filing.  Equity holders were not given notice by the Company that
it required immediate funding or it would be forced into bankruptcy
by technically defaulting on a very small line of credit.  Without
such notice, we did not have the opportunity to capitalize the
Company to prevent the technical default - which we would have been
able to do - and thus were not able to prevent the Chapter 11
filing.  Moreover, the company continued after the filing to
represent that all was well and on that basis I purchased more
shares for my fund and many of my students did so as well," Mr.
Town avers.

Mr. Town cites, among others, these reasons for seeking the
appointment of an Equity Committee:

     (1) The equity of the Company is strong.  It has a value of
over $1 billion and equity of $500 to $600 million.

     (2) The company is not "hopelessly insolvent".

     (3) Equity holders have a right to be represented in the
reorganization of the Company.

     (4) The existing equity holders have the capital to
recapitalize the business, if given the opportunity.

Terence F W Hall, one of Mr. Town's students and owner of 7,000
shares of Zinc, which is held by Horsehead Holding Corp., joins in
the motions filed by Mr. Spier and Mr. Town, asking the Court to
order the appointment of an Equity Committee.  

"It seems very strange to me that to the very day that bankruptcy
was declared the company management was clearly stating that
everything is fine.  I do not have any proof but it seems to me
that there has been some collusion between management and the
company that is rushing the Chapter 11 process.  I would be
inclined to investigate exactly what the management is invested
in," Mr. Hall contends.

                   About Horsehead Holding Corp.

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

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

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

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


HOVNANIAN ENTERPRISES: Egan-Jones Cuts Sr. Unsec. Rating to CCC
---------------------------------------------------------------
Egan-Jones Ratings Company lowered the senior unsecured rating on
debt issued by Hovnanian Enterprises Inc. to CCC from CCC+ on March
28, 2016.

Hovnanian Enterprises, Inc. is a United States real estate company
involved in every aspect of marketing homes, including design,
construction and sales.



IMMUCOR INC: Incurs $8.66 Million Net Loss in Third Quarter
-----------------------------------------------------------
Immucor, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $8.66
million on $88.89 million of net sales for the three months ended
Feb. 29, 2016, compared to a net loss of $39.44 million on $95.60
million of net sales for the three months ended Feb. 28, 2015.

For the nine months ended Feb. 29, 2016, Immucor reported a net
loss of $27.67 million on $281.85 million of net sales compared to
a net loss of $53.99 million on $294.32 million of net sales for
the nine months ended Feb. 28, 2015.

As of Feb. 29, 2016, Immucor had $1.69 billion in total assets,
$1.34 billion in total liabilities and $356.62 million in total
equity.

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

                       http://is.gd/BYAn7e

                          About Immucor

Founded in 1982, Immucor, Inc., a Georgia corporation, is a
worldwide leader in the transfusion and transplantation in vitro
diagnostics markets.  The Company's products perform typing and
screening of blood and organs to ensure donor-recipient
compatibility.  The Company's offerings are targeted at hospitals,
donor centers and reference laboratories around the world.

Immucor, Inc. reported a net loss of $60.72 million for the year
ended May 31, 2015, a net loss of $182.25 million for the year
ended May 31, 2014, and a net loss of $39.14 million for the year
ended May 31, 2013.


INNOVATION VENTURES: S&P Raises CCR to 'B' on Debt Repayment
------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on Farmington Hills, Mich.-based Innovation Ventures LLC to
'B' from 'B-'.  The outlook is stable.

S&P also raised the rating on Innovation's senior secured notes due
2019 to 'B+' from 'B-'.  S&P is revising the recovery rating to '2'
from '3', indicating the prospect of substantial recovery (70% to
90%, in the lower half of the range) in the event of a payment
default.

"The upgrade reflects Innovation's payment of $45 million of par
value on the senior notes in late 2015, which supports stronger
credit metrics than we anticipated in our prior forecast," said
Standard & Poor's credit analyst Stephanie Harter.  "We also
believe that the company will continue to spend on advertising and
promotion of its products, but not at the same levels as in prior
years, particularly in 2014.  This should result in sustained
strong credit measures and improved profitability."

The outlook is stable.  It is S&P's view that the company's
business has stabilized from a profit standpoint, and should be
able to generate sufficient free cash flow to fund operations and
pay distributions to owners while maintaining credit metrics near
current levels, including leverage in the 1.5x to 2.0x range.

S&P believes there is still potential downside risk related to
unfavorable regulatory, legal, or regulatory scrutiny and
unfavorable media coverage of the 5-hour Energy product.  S&P could
lower the ratings if significant negative developments harm
consumer perception of 5-hour Energy and cause meaningful sales
declines, or if competition intensifies, causing Innovation to lose
market share.  S&P could also lower the rating if it projects
leverage to be sustained above 3x, which could occur if sales fall
dramatically, resulting in over a 55% EBITDA decline; or if a
leveraged dividend of about $500 million were made, assuming
current debt levels.

S&P believes a higher rating is unlikely without a more favorable
assessment of the company's management and governance.  This could
occur if Innovation establishes an independent board and a formal
dividend payout policy.



INTERNATIONAL BRIDGE: Seeks June 30 Plan Exclusivity Extension
--------------------------------------------------------------
International Bridge Corporation asks the U.S. Bankruptcy Court for
the District of Kansas, to extend its exclusive period to file its
disclosure statement and plan of reorganization to
June 30, 2016 and the time during which it may solicit acceptance
of its Plan of Reorganization to Aug. 29, 2016.

"Prior to the Filing Date, the Debtor was involved in the
submission of claims submitted to the United States Department of
Navy pursuant to Contract Disputes Act under Contract Number
N62742-08-C-1301 FY08 MCON P-502 ("CDA Claims"), stemming from
disputes regarding work performed on the Kilo Wharf Extension for
the Department of the Navy at the Commander Naval Regional
Marianas, Main Base, Guam ("Wharf Project")... The CDA Claims are
pending before a Navy Contracting Officer for decision, and a
decision is central to the instant bankruptcy case. However, a
decision will not be made in time for Debtor to file its Chapter 11
Bankruptcy Plan by the April 1, 2016 deadline. Counsel for the
Debtor has confirmed that the decision on the CDA Claims has been
pushed back to June of 2016," the Debtor relates.

United States Trustee, Samuel K. Crocker responded to the Debtor's
Motion, contending that while he does not object to the motion to
extend the exclusivity period to June 30, 2016, the Debtor must, as
soon as practicable, file a plan.  

International Bridge Corporation is represented by:

          Wesley F. Smith, Esq.
          STEVENS & BRAND, LLP
          900 Massachusetts, Suite 500
          P.O. Box 189
          Lawrence, KS 66044
          Telephone: (785)843-0811
          Facsimile: (785)843-0341
          E-mail: Wsmith@StevensBrand.com

Samuel K. Crocker, United States Trustee, is represented by:

          Richard A. Wieland, Esq.
          301 North Main, Suite 1150
          Wichita, KS 67202
          Telephone: (316)269-6214
          Facsimile: (316)269-6182
          E-mail: Richard.Wieland@usdoj.gov

              About International Bridge Corporation

International Bridge Corporation, a contractor for government
projects in the South Pacific and Guam, sought Chapter 11
protection (Bankr. D. Kan. Case No. 15-20951) in Kansas City on
May
7, 2015.  Robert Toelkes, the sole shareholder and manager, signed
the petition.  The Debtor disclosed total assets of $17.4 million
and total debt of $27.4 million.

The case is assigned to Judge Robert D. Berger.  The Debtor tapped
Stevens & Brand, LLP, as its counsel.  Foulston Siefkin, LLP,
serves as the Debtor's special litigation counsel.  Robert G.
Nath,
PLLC, represents the Debtor as special tax counsel.


INTERPARK INVESTORS: Court Issues Final Cash Collateral Order
-------------------------------------------------------------
Judge Carol A. Doyle of the U.S. Bankruptcy Court for the Northern
District of Illinois, Eastern Division, issued her Final Order
authorizing Interpark Investors, LLC, to use the cash collateral of
Athene Annuity and Life Company, f/k/a Aviva Life and Annuity
Company.

The Final Order also granted Athene Annuity adequate protection.

Judge Doyle authorized the Debtor to use cash collateral to pay
only:

     (i) Those expenses set forth in the Budget, in the amounts set
forth therein plus 15% variance for any individual expense
contained in the Budget, not to exceed a total variance of 10% of
the total operating expenses for the Budget Period, and

     (ii) Any other expenses approved by the Court.

Athene Annuity was granted adequate protection in the form of
valid, enforceable, non-avoidable, and fully perfected replacement
liens of the highest available priority upon (i) any property that
the Debtor acquires after the Petition Date including, without
limitation, any rents, profits and cash generated by the Debtor's
prepetition and postpetition operations, but excluding any
avoidance actions under chapter 5 of the Bankruptcy Code, and (ii)
any proceeds generated from such property.

The Adequate Protection Liens will:

    (i) Attach to the same extent and with the same validity and
priority as the Lender's existing interests in the Prepetition
Collateral;

   (ii) Be limited to the extent of the aggregate diminution
subsequent to the Petition Date in the value of the Lender's
existing interests in the Prepetition Collateral, whether by
depreciation, use, sale, loss or otherwise; and

  (iii) Be subject only to prior perfected and unavoidable liens in
property of the Debtor's estate as of the Petition Date.

The Debtor's authority to use Cash Collateral will terminate on the
earlier of: (a) the occurrence of any Event of Default that remains
uncured or unwaived; or (b) the expiration of the Budget Period.

A full-text copy of the Final Order, dated March 17, 2016, is
available at http://is.gd/FYc5L8

                     About Interpark Investors

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

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

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

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

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

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


KLD ENERGY: Seeks Approval of $2.5-Mil. DIP Loan
------------------------------------------------
KLD Energy Technologies, Inc., asks the U.S. Bankruptcy Court for
the Western District of Texas, Austin Division, for authorization
to incur postpetition secured, superpriority indebtedness from
Adams DIP Finance Group, LLC, to the extent necessary to cover any
cash expenditures during the pendency of the case.

The Debtor is requesting approval of a $2,500,000
debtor-in-possession financing loan ("DIP Loan"), with a requested
interim distribution of $475,000 pending final approval of the DIP
Loan.

The major terms of the DIP Loan are as follows:

     (a) DIP Lender: Adams DIP Finance Group, LLC

     (b) DIP Loan: Up to a total amount of $2,500,000.

     (c) Initial Advance: Up to $475,000 to be used for operations
during the first 15-day interim period.

     (d) Subsequent Advances: Up to a total of $2.5 million if
funds raised by DIP Lender conditioned upon investment into DIP
Lender by exiting KLD investors and non-KLD investors.

     (e) Conditions to Subsequent Advances: Agreed Budget;
satisfactory progress towards Plan of Reorganization according to
time line set forth in Term Sheet.

     (f) Maturity Date: Aug. 8, 2016, at which time the Debtor
shall repay any outstanding advances under the DIP Loan or convert
such advances into Series D Preferred Stock at the sole discretion
of the DIP Lender through a confirmed plan of reorganization, as
set forth in the Term Sheet.

     (g) Interest Rate: 10% per annum

     (h) DIP Collateral: DIP Lender will receive a fully perfect
first priority security interest in and to all pre-petition and
post-petition assets and properties of the Debtor and a
super-priority administrative expense claim subject to the
carve-out provisions in the Term Sheet.

The Debtor contends that its requested usage of DIP Loan will be
limited to: (i) expenditures for general working capital purposes
in the ordinary course of business; (ii) expenditures specifically
approved by the Court, and (iii) expenditures associated with the
Debtor's bankruptcy case.  The Debtor further contends that all
such cash usage will be subject to, and in accordance with, the
terms of the weekly cash flow budget prepared by the Debtor, in a
form and substance acceptable to the DIP Lender.

                    Jared Slosberg's Objection

Jared Slosberg, a secured creditor and party-in-interest, relates
that he holds claims in the approximate principal amount of
$2,450,450, with a perfected lien upon all of the assets of the
Debtor.

Mr. Slosberg cites these grounds in his objection to the Debtor's
Motion:

     (1) The Debtor seeks to provide the DIP Lender with a priming,
first-priority lien upon all of the assets of the Debtor. The
Debtor cannot meet the requirements of 11 U.S.C. Section 364(d) and
this relief is not appropriate under the circumstances on an
interim basis.

     (2) The amount of the DIP Loan is illusory -- in fact, the
evidence will demonstrate that the DIP Lender does not have
committed funds available in the amount of $2.5 million.

     (3) The Debtor seeks to roll-up or cross-collateralize
approximately $405,000 in unsecured, prepetition advances by the
DIP Lender into the DIP Loan -- transforming prepetition unsecured
debt into senior secured debt with super-priority administrative
claim status.

     (4) The Debtor includes unnecessary and inappropriate expenses
within its interim budget -- items that should, at a minimum, await
a final hearing.

     (5) The deal documents attached to the DIP Financing Motion
have surprising and non-standard terms that are undisclosed in the
DIP Financing Motion itself.

                Carol A. Barry's Limited Objection

Carol A. Barry, shareholder and party in interest, contends that
the relief sought by the Debtor's Motion will prejudice the ability
of parties in interest to protect their interests in and potential
claims against the Debtor.

Ms. Barry avers that the Debtor has not provided sufficient
information to the Court, creditors, shareholders or other parties
in interest that justify the extraordinary and immediate relief the
Debtor seeks.  She further avers that the Debtor has not provided
any reliable information on which parties in interest can determine
the extent to which they will be prejudiced by the DIP Loan.

                          *     *     *

KLD Energy Technologies is represented by:

          Lynn Hamilton Butler, Esq.
          HUSCH BLACKWELL LLP
          111 Congress Avenue, Suite 1400
          Austin, TX 78701
          Telephone: (512)472-5456
          Facsimile: (512)479-1101
          E-mail: Lynn.butler@huschblackwell.com

Jared Slosberg is represented by:

          Kell C. Mercer, Esq.
          KELL C. MERCER, P.C.
          1602 E. Cesar Chavez Street
          Austin, TX 78702
          Telephone: (512)627-3512
          Facsimile: (512)597-0767
          E-mail: kell.mercer@mercer-law-pc.com

Carol A. Barry is represented by:

          Ann B. Brogan, Esq.
          CROWLEY, LIBERATORE, RYAN & BROGAN, P.C.
          Towne Point Center, Suite 300
          150 Boush Street
          Norfolk, VA 23510
          Telephone: (757)333-4500
          Facsimile: (757)333-4501
          E-mail: abrogan@clrbfirm.com

                         About KLD Energy

KLD Energy Technologies, Inc., which engages in the engineering,
development, and manufacturing of electric drive systems, sought
Chapter 11 protection (Bankr. W.D. Tex. Case No. 16-10345) in
Austin, Texas, on March 25, 2016.  The case judge is Hon.
Christopher H. Mott.  The Debtor tapped Lynn H. Butler, Esq., at
Husch Blackwell LLP as counsel.  The Debtor estimated assets and
debt of $10 million to $50 million.


LAND O'LAKES: Fitch Hikes Preferred Stock Rating to 'BB'
--------------------------------------------------------
Fitch Ratings has affirmed Land O' Lakes, Inc.'s (LOL) Long-term
Issuer Default Rating (IDR) and unsecured debt ratings at 'BBB-'.
Fitch has upgraded LOL's preferred stock rating to 'BB' from 'BB-'
and the junior subordinated capital securities to 'BB+' from 'BB'.
Additionally, LOL increased its preferred stock by $115 million to
$315 million. The Rating Outlook is Stable.

The preferred stock ranks junior to the senior debt and capital
securities. Fitch grants 50% equity credit to LOL's preferred
shares after considering the junior ranking, perpetuity, the option
to defer dividends, and the cumulative coupon deferral. On or after
July 16, 2025, the preferred stock will be redeemable at the option
of the company. Proceeds from the offering will be used to
refinance certain existing debt, to provide general working
capital, or for other general corporate purposes.

KEY RATING DRIVERS

Significant Scale, Strong Brands: LOL's ratings reflect the
significant scale as the second largest U.S. agricultural
cooperative (co-op) that has expanded through mergers, acquisitions
and joint ventures with sales of approximately $13 billion in 2015.
The co-op's long history since 1921, long-term relationships with
its grower/owners, as well as strong brands including Land O'
Lakes, Purina Animal Nutrition and WinField Solutions, support the
ratings. Dairy members supply LOL's Dairy segment with milk, cream,
cheese and butter. Ag members purchase agricultural products,
primarily feed, seed and crop protection products.

Diversified Operations: LOL's operations are more diversified
versus its agricultural peers. The recent United Suppliers Inc.
(United) transaction, which generated $2.6 billion in revenues in
2014, is a two-step merger process that has increased LOL's scale
and exposure to the more profitable Crop Inputs segment. After
merging United's seed and crop protection business in October 2015,
the second phase merges United's remaining crop nutrient operations
and is expected to complete in October 2017. For 2015, Dairy Foods,
Feed, and Crop Inputs accounted for 26%, 26% and 42% of EBITDA
respectively. Fitch expects once United's crop nutrients business
is merged, the Crop Inputs segment should generate close to 60% of
LOL's overall EBITDA.

Low Margins: LOL's competitive market positioning is balanced
against its exposure to volatile commodity products with low single
digit EBITDA margins. EBITDA margins were 3.8% in 2015 compared to
3% in 2014 driven by margin increases in the Dairy and Feed
segments. Fitch's forecast has margins remaining relatively stable
in 2016 given the likely required investments to defend LOL's
market share. Consequently, Fitch expects the majority of synergy
benefits from the United merger of approximately $50 million in the
first year will be reinvested into the business. Some margin upside
exists depending on the extent LOL can leverage margin management
initiatives and favorable product mix in Dairy to mitigate expected
margin pressure in Feed.

Retained Earnings, Board Policies Provide Flexibility: Co-ops
generally distribute the majority of their earnings back to members
which can constrain financial flexibility resulting in low free
cash flow (FCF) generation. LOL's board has a current cash target
for distribution of 60% of prior year's net earnings with the
remainder retained by the company as either permanent or member
equity. LOL retains permanent equity through both its non-member
business earnings and LOL's by-laws that allow the company to
retain up to 25% of earnings from its member business. The current
holdback percentage for the dairy business is 10% and the
Agriculture business is 25%. In 2017, the holdback percentage for
the Agriculture business is being lowered to 10%. The holdback
percentage and cash target for distribution is subject to annual
board review.

"Consequently, Fitch believes these sources of permanent retained
earnings and the current 60% cash distribution of prior year's
earnings provide sufficient flexibility to maintain adequate
capital to finance its business. Fitch treats the cash patronage
pay-outs as dividends and our forecast expects the cash patronage
pay-outs will continue at 60% of prior year's net income. As part
of LOL's merger with United, LOL transitioned from its current
Agriculture member equity program to a new three-tiered base
capital plan to better align the Ag Services cash patronage
payments between the two co-ops. However, the increase in the Ag
Services cash patronage payment does not affect the overall cash
paid out to co-op members due to the 60% cash cap of prior year's
net income."

Credit Enhancements: LOL's debt agreements contain credit enhancing
restrictions that subordinate the majority of patronage payments to
debt payments with an allowed 20% cash patronage distribution to
preserve the co-op's tax status. LOL's effective income tax rate is
substantially lower than the statutory federal and state income tax
rates as a result of the tax deductibility of qualified patronage
distributions made from net income.

Credit Metrics Stable: For 2015, LOL's leverage (total debt to
EBITDA) was 2.5x, total adjusted debt to EBITDAR was 3.5x and
operating EBITDA/gross interest expense was 9.0x. Fitch expects
total debt/EBITDA will be approximately flat to down slightly in
2016 assuming the majority of LOL's $155 million notes maturity at
the end of 2016 is effectively refinanced. LOL's rent expense is
significant at approximately $110 million annually, but more than
40% is comprised of inventory storage fees for its dairy and crop
inputs business that are very short-term and cancellable at any
time.

KEY ASSUMPTIONS

Fitch's key assumptions within its rating case for LOL include:

-- Approximately 7% increase in sales in 2016 driven mainly by
    increased revenue related to United and an approximate mid-
    single digit increase in the feed segment offset by high-
    single digit declines in the dairy segment due to lower
    prices. In 2017, revenue growth is expected in the high single

    digits driven by organic growth, commodity price increases and

    the second phase closure of the United merger.

-- Margins remain relatively stable in 2016 given the likely
    required investments to defend LOL's market share.
    Consequently, Fitch expects the majority of synergy benefits
    from the United merger of approximately $50 million in the
    first year will be reinvested into the business. Fitch expects

    margins will remain stable in 2017.

-- Over Fitch's forecast period, cash pay-out to members remains
    at the targeted 60% of prior year net income with FCF of
    approximately $150 million in 2016 and a FCF margin in the
    range of 1% of sales driven by working capital benefits from
    inventories and improved efficiencies from the United merger.
    In 2017, Fitch expects FCF will be close to $100 million
    depending on additional working capital benefits.

-- Total debt/EBITDA approximately flat to down slightly in 2016
    assuming the majority of LOL's $155 million notes maturity at
    the end of 2016 is effectively refinanced. Leverage in 2017 is

    expected to decrease modestly driven primarily by increased
    EBITDA.”

RATING SENSITIVITIES

Negative: Future developments that may, individually or
collectively, lead to a negative action include:

-- Sustained weakness or operating profit decline in at least one

    of LOL's key business segments;

-- Leverage (total debt to EBITDA) moving toward 3x;

-- FCF (cash flow from operations less capex and dividends) after

    patronage dividends remains negative for multiple years;

-- A Board commitment to a higher cash patronage payout that
    creates a sustained FCF deficit.

Positive: Fitch does not expect a positive rating action in the
near term due to the low growth and low margin structure of its
business segments. However, future developments that may,
individually or collectively, lead to a positive action include:

-- LOL diversifies its portfolio towards higher growth and higher

    margin categories;

-- Leverage is sustained below 2x;

-- LOL consistently generates positive FCF.

LIQUIDITY

LOL's liquidity is ample at approximately $1.5 billion as of Dec.
31, 2015. Liquidity includes $341 million cash and cash
equivalents, which varies seasonally, $550 million available on its
$575 million senior unsecured revolver and full availability on its
$700 million receivables facility. Seasonal working capital needs
are highest during the first and third quarters and trough to peak
liquidity varies by approximately $900 million. Fitch forecasts FCF
of approximately $150 million for 2016 driven by working capital
benefits from inventories and improved efficiencies from the United
merger. Historically, annual FCF margins ranged between +1% to -1%.


LOL's capital structure consists of a $575 million unsecured credit
facility due March 2020, $150 million senior unsecured term loan
due August 2021, $325 million in 6.24%-6.77% senior unsecured
private placement notes due 2016 through 2021 including $155
million due in December 2016, $300 million 6.00% unsecured notes
due August 2022 and a $700 million receivables securitization
facility due March 2020. There are also $200 million junior
subordinated capital securities due in March 2028 at Land O' Lakes
Capital Trust I and $315 million of preferred stock (including the
newly issued $115 million) at LOL.

In October 2015, LOL requested and was granted a release of
security of substantially all of the material assets of LOL and its
wholly owned domestic subsidiaries for the revolving credit
facility, term loans and private placement notes. The release of
security is conditional based on maintaining investment grade
ratings from two nationally recognized rating agencies. The release
of collateral was a factor in the rating upgrade for the junior
debt.

FULL LIST OF RATING ACTIONS

Fitch affirms the ratings for LOL and its subsidiary, Land O'Lakes
Capital Trust as follows:

LOL
-- Long-term Issuer Default Rating (IDR) at 'BBB-';
-- Senior unsecured credit facility at 'BBB-';
-- Senior unsecured term loan at 'BBB-';
-- Senior unsecured private placement notes at 'BBB-';
-- Senior unsecured notes at 'BBB-'.

Fitch upgrades the ratings for LOL and its subsidiary, Land O'Lakes
Capital Trust as follows:

LOL
-- Preferred stock to 'BB' from 'BB-'.

Land O' Lakes Capital Trust I
-- Junior subordinated capital securities to 'BB+' from 'BB'.


Fitch withdraws the following ratings at Land O Lakes Capital Trust
I:

Land O' Lakes Capital Trust I
-- Long-term Issuer Default Rating (IDR) 'BBB-'.

The Rating Outlook is Stable.


LIFE CARE: Asks Court to Authorize Cash Collateral Use
------------------------------------------------------
Life Care St. Johns, Inc., seeks authority from the Bankruptcy
Court to use cash collateral to pay postpetition expenses and to
administer its Chapter 11 case.  UMB Bank, National Association, in
its capacity as indenture trustee and and U.S. Bank National
Association, in its capacity as trustee under a Refund Queue Claim
Holders' Distribution Trust agreement dated as of April 1, 2014,
are the parties with interests in the Debtor's cash collateral.

According to Richard R. Thames, Esq., at Thames Markey & Heekin,
P.A., counsel for the Debtor, the Cash Collateral is the primary
source of funds available to the Debtor, without which the Debtor
would suffer irreparable and immediate harm.

The Debtor's Plan of Reorganization filed Nov. 27, 2013, and
confirmed Feb. 28, 2014, contemplated a restructuring of its
indebtedness through:

  (i) the exchange of the 2006 Bonds for new Health Care Refunding
      Revenue Bonds, Series 2014A and Subordinate Health Care
      Refunding Revenue Bonds, Series 2014B;

(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.

In accordance with the Plan, St. Johns County Industrial
Development Authority (the "Issuer") issued the (a) Series 2014A
Bonds in the amount of $41,711,250 and (b) the Series 2014B Bonds
in the amount of $15,434,643 upon the terms and for the purposes
set for in a Bond Trust Indenture, dated as of April 1, 2014, by
and between the Issuer and UMB Bank, National Association, in its
capacity as indenture trustee (the "Bond Trustee").

As of the Petition Date, the amounts due and owing by the Debtor
with respect to the Bonds are as follows:

  a. With respect to the Series 2014A Bonds: (1) unpaid principal
     in the amount of $41,711,250; and (2) accrued but unpaid  
     interest in the amount of $622,772 as of April 11, 2016,
     which interest continues to accrue at a per diem rate of
     $6,227;

  b. With respect to the Series 2014B Bonds: (1) unpaid principal
     in the amount of $16,104,149; and (2) accrued but unpaid
     interest in the amount of $111,834 as of April 11, 2016,
     which interest continues to accrue at a per diem rate of
     $1,118; and

  c. Unliquidated, accrued and unpaid fees and expenses of the
     Bond Trustee and its professionals incurred through the
     Petition Date with the Bonds.

In accordance with the Plan, the Debtor executed and delivered to
U.S. Bank National Assocition, in its capacity as trustee under a
Refund Queue Claim Holders' Distribution Trust agreement dated as
of April 1, 2014, by and among the Refund Queue Trustee, the
Committee of Beneficial Interest Holders appointed pursuant to the
Plan and the Debtor, the following documents:

   (a) the Refund Queue Holder A Note in the original principal
       amount of $4,700,378;

   (b) the Refund Queue Holder B Note in the original principal
       amount of $3,133,588; and

   (c) certain mortgages and security interests.

As of the Petition Date, the amounts due and owing by the Debtor
with respect to the Refund Queue Notes are as follows:

  a. With respect to the Refund Queue Holder A Note: (1) unpaid
     principal in the amount of $3,911,086; and (2) accrued but
     unpaid interest in the amount of $718,424 as of April 11,
     2016, which interest continues to accrue at a per diem rate
     of $1,282;

  b. With respect to the Refund Queue Holder B Note: (1) unpaid
     principal in the amount of $3,133,585; and (2) accrued but
     unpaid interest in the amount of $159,030 as of April 11,
     2016, which interest continues to accrue at a per diem rate
     of $224; and

  c. unliquidated, accrued and unpaid fees and expenses of the
     Refund Queue Trustee and its professionals incurred through
     the Petition Date in connection with the Refund Queue Notes.

As adequate protection, the Bond Trustee and the Refund Queue
Trustee will continue to have a valid, perfected and enforceable
continuing replacement lien and security interest in all of the
assets of the Debtor.

As further adequate protection against diminution, the Debtor
agrees to comply with the following bankruptcy transaction
milestones:

  (i) on the Petition Date, the Debtor shall file (1) a motion
      that seeks entry of an order approving, among other things,
     (A) the Debtor's request to sell, transfer and assign, as
      applicable, the Facility and substantially all assets
      relating to the operation of the Facility, pursuant to an
      asset purchase agreement with a stalking horse purchaser;
      and (B) approval of bidding procedures related to the
      Proposed Sale, which will be acceptable to the Bond Trustee
      and the majority of the holders of the Bonds; (2) a motion
      that seeks entry of an order approving, among other things,
     (A) the Debtor's request to sell the Miscellaneous Real
      Estate, pursuant to an asset purchase agreement with a
      stalking horse purchaser; and (B) approval of bidding
      procedures related to the Proposed Real Estate Sale;

(ii) on or before the date that is three days after the Petition
      Date, the Debtor shall file a Chapter 11 plan and
      accompanying disclosure statement, which will be acceptable
      to the Bond Trustee and the majority of the holders of the
      Bonds;

(iii) on or before the date that is four days after the Petition
      Date, the Court shall have entered an order approving the
      Bidding Procedures;

(iv) on or before the date that is 45 days after the Petition
      Date, the Court shall have entered an order approving the
      Disclosure Statement as providing adequate information;

  (v) on or before June 1, 2016, any counter bids for the Assets
      and the Miscellaneous Real Estate shall be due;

(vi) on or before June 3, 2016, auctions fo the Assets and the
      Miscellaneous Real Estate shall be held;

(vii) on or before the date that is 60 days after the Petition
      Date, the Court shall have entered orders approving the
      Proposed Dale and the Proposed Real Estate Sale;

(viii) on or before the date that is 45 days after the Court
       enters the Disclosure Statement Order, the Court shall have
       entered an order confirming the Consensual Plan; and

  (ix) on or before the date that is 60 days after the date the
       Court enters the Sale Order and the Real Estate Sale Order,
       the Proposed Sale and the Proposed Real Estate Sale shall
       have been consummated.

                     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.

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

Glenmoor filed its second voluntary petition under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Fla. Case No.: 16-01347) on April
11, 2016.

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.


LIFE CARE: Seeks Court Approval of Bidding Procedures
-----------------------------------------------------
Life Care St. Johns, Inc., doing business as Glenmoor, seeks the
Bankruptcy Court's to authority to sell its continuing care
retirement community in St. Augustine, Florida, to LCS Glenmoor,
LLC, as stalking horse bidder, for $24,450,000, or to other
prospective purchaser who may submit a higher and better offer for
Glenmoor's assets at a court supervised auction.  The 11 acre
undeveloped parcel adjacent to the operational facilities is not
included in the Sale.

To ensure that the sale process is open, fair and efficient,
Glenmoor also seeks the entry of an order scheduling an auction of
the Debtor's assets, approving bid procedures to be utilized in
connection therewith, and providing certain bid protections to the
Stalking Horse Bidder, including a break-up fee of $700,000 and an
expense reimbursement of up to $150,000.

On March 21, 2016, Glenmoor entered into a Stalking Horse APA with
LCS which contemplates the assumption of all active Residence and
Care Contracts and all Entrance Fee refund liabilities arising
after Feb. 28, 2014, and payment of all trade debt owed by Glenmoor
on the date of sale --including prepetition trade debt, up to a cap
of $150,000.

As an inducement for the Seller to enter into the Stalking Horse
APA, the Buyer has deposited $1,375,000 with TD Bank, N.A. pursuant
to an escrow agreement entered into between Buyer and Seller.  The
Deposit will be nonrefundable.

Closing of the sale is expected to occur within 60 days after entry
of the Sale Order.

                     The Proposed Bid Procedures

In order to ensure that the Stalking Horse APA is in fact the
highest and best offer, Glenmoor has determined that the sale to
LCS should be subjected to competitive bidding on terms and
procedures established by the Court.

Any entity (other than LCS) interested in the Purchased Assets must
deliver an executed confidentiality agreement reasonably acceptable
to Glenmoor and containing terms in the aggregate no less favorable
to Glenmoor in any material respect than those contained in the
confidentiality agreement by and between LCS and Glenmoor.   After
Glenmoor's receipt of an executed Confidentiality Agreement,
Glenmoor will provide each Potential Bidder reasonable due
diligence information, as requested, as soon as reasonably
practicable after such request.  The due diligence period will end
on May 30, 2016.

Binding bids must be actually received by Glenmoor no later than
5:00 p.m. on May 30, 2016.

Prior to the Auction, Glenmoor will evaluate Qualified Bids and, in
consultation with the Bond Trustee, identify the Qualified Bid that
is, in Glenmoor's judgment, the highest or otherwise best bid.

Within 24 hours of that determination, Glenmoor will notify LCS as
to which Qualified Bid is the Starting Bid.  Glenmoor will
distribute copies of the Starting Bid to each Qualified Bidder who
has submitted a Qualified Bid.

Upon the conclusion of the Auction (if the Auction is conducted),
Glenmoor, in the exercise of its reasonable, good-faith business
judgment and after consulting with the Bond Trustee, will identify
the highest and best bid.

At a hearing to be held on April 14, 2016, the Debtor will seek
entry of the Bidding Procedures Order.

                      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.

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

Glenmoor filed its second voluntary petition under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Fla. Case No.: 16-01347) on
April 11, 2016.

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.


LIFE CARE: Seeks Entry of Final Decree Closing Case
---------------------------------------------------
Life Care St. Johns, Inc., doing business as Glenmoor, asks the
U.S. Bankruptcy Court for the Middle District of Florida,
Jacksonville Division, to enter a final decree closing its Chapter
11 case.

Glenmoor asserts that its Plan has been substantially consummated
within the meaning of 11 U.S.C. Section 1101(2).  It contends that
it has completed all payments due to general unsecured creditors
and that all administrative claims have been paid in full.
Glenmoor further contends that there are no adversary proceedings,
contested matters or objections to claims pending.

U.S. Bank National Association, in its capacity as the Refund
Trustee, and the Refund Holder Oversight Committee, in their
Response to the Debtor's Motion for Entry of Final Decree, contend:
"Pursuant to the Plan, Glenmoor has certain obligations to the
Refund Trustee, as well as UMB Bank, N.A., in its capacity as
trustee ("Bondholders' Trustee") under certain bonds issued
pursuant to indentures dated as of April 1, 2014 by and between the
Bondholders' Trustee, the St. Johns County Industrial Development
Authority, and Glenmoor ("Bonds").  Glenmoor is in default under
the obligations under the Plan... Glenmoor also appears to be in
default under the Forbearance Agreement with the Bondholders'
Trustee and the Restructuring Agreement with the Refund Trustee.
Under section 4(b)(xvi) of the Forbearance Agreement, Glenmoor was
supposed to have completed the Affiliation Process (as defined in
the Forbearance Agreement) and closed on the sale of the Project by
December 31, 2015.  Further, section 6(a)(iii) provides that a
Forbearance Termination Event shall occur automatically without
notice, for failure to meet the obligations under section 4(b).  A
default under the Forbearance Agreement is a default under
paragraph 5 of the Restructuring Agreement.  The cure period was 3
days without notice.  In view of these defaults, Glenmoor also
appears to be in default under the Restructuring Agreement... The
Motion for Entry of Final Decree seeks an order closing the
existing bankruptcy case is being sought.  Assuming that occurs, it
is anticipated that a new Chapter 11 bankruptcy will be filed by
Glenmoor."

Life Care St. Johns is represented by:

          Richard R. Thames, Esq.
          Bradley R. Markey, Esq.
          THAMES MARKEY & HEEKIN, P.A.
          50 North Laura Street, Suite 1600
          Jacksonville, FL 32202
          Telephone: (904)358-4000
          Facsimile: (904)358-4001
          E-mail: rrt@tmhlaw.net
                  brm@tmhlaw.net

U.S. Bank National Association is represented by:

          David E. Otero, Esq.
          Christian P. George, Esq.
          AKERMAN LLP
          50 North Laura Street, Suite 3100
          Jacksonville, FL 32202
          Telephone: (904)798-3700
          Facsimile: (904)798-3730
          E-mail: david.otero@akerman.com
                  christian.george@akerman.com

                    About Life Care St. Johns

Life Care St. Johns, Inc., filed a Chapter 11 petition (Bankr.
M.D. Fla. Case No. 13-04158) on July 3, 2013.  The Debtor is the
owner and operator of a continuing care retirement community known
as Glenmoor consisting of 144 independent living units located on
a 40-acre site in St. Johns County, Florida.

Judge Jerry A. Funk presides over the case.  Richard R. Thames,
Esq., and Eric N. McKay, Esq., at Stutsman Thames & Markey, P.A.,
serves as the Debtor's counsel.  American Legal Claim Services,
LLC, serves as claims and noticing agent.  The Debtor hired
Navigant Capital Advisors, LLC, as financial advisors.  Following
Neil F. Luria's transfer to SOLIC Capital Advisors LLC, the Debtor
replaced Navigant with SOLIC.

The Committee of Creditors Holding Unsecured Claims appointed in
the bankruptcy case of Life Care St. Johns, Inc., is represented
by Akerman Senterfitt's David E. Otero, Esq., and Christian P.
George, Esq., in Jacksonville, Florida.

Bruce Jones signed the petition as CEO.  The Debtor disclosed
$36,308,406 in assets and $117,305,625 in liabilities as of the
Chapter 11 filing.


LIFE CARE: Wants to Sell Real Estate to LCS for $450,000
--------------------------------------------------------
Life Care St. Johns, Inc., doing business as Glenmoor, asked the
Bankruptcy Court to authorize the sale of an 11 acre parcel of
unimproved real estate adjacent to the Debtor's continuing care
retirement community to LCS Glenmoor, LLC, as stalking horse
bidder, for $450,000, or such other party who submits a higher and
better bids at a court-supervised auction.

To ensure that the sales process is open, fair and efficient,
Glenmoor also seeks an order scheduling an auction of the 11 Acre
Parcel and approving bid procedures.  In the event the 11 Acre
Parcel is sold, the Debtor wants to pay a real estate commission to
Walchle Lear, the broker which Glenmoor has retained to market and
sell the 11 Acre Parcel.

According to Court documents, Walchle Lear has agreed to lower its
standard commission in the event no additional offers for the 11
Acre Parcel are received, and will be compensated in accordance
with the following schedule:

       Deal Size                            Fee
       ---------                           -----
       $0-$1,200,000                        10%
       $1,200,001 - $2,400,000               8%
       $2,400,001 - $3,600,000               6%
       $3,600,001 - $4,000,000               5%
       Above $4,000,000                      4%

If the sale is to LCS or its affiliate, assignee or
successor-in-interest, and the gross purchase price will be more
than $250,000 and equal to or less than $500,000, the fee will be
$25,000 rather than 10%.

Closing of the sale will occur simultaneously with the closing on
LCS's acquisition of Glenmoors operational assets.

                     Proposed Bid Procedures

In order to ensure that the Stalking Horse Real Estate APA is in
fact the highest and best offers obtainable for the 11 Acre Parcel,
Glenmoor has determined that the sale to LCS should be subjected to
competitive bidding on terms and procedures established by the
Court.

To participate in the Auction, prior to the Bid Deadline, a
potential bidder (other than LCS or the Refund Queue Trust) must
deliver to Glenmoor a written irrevocable offer.

Bids fulfilling all of the requiremends will be deemed to be
"Qualified Bids, and those parties submitting Qualified Bids will
be deemed to be "Qualified Bidders."

Binding bids must be actually received by Glenmoor no later than
5:00 p.m. (prevailing Eastern Time) on May 30, 2016.

Prior to the Auction, Glenmoor will evaluate the Qualified Bids
and, in consultation with the Bond Trustee and the Refund Queue
Trustee, identify the Qualified Bid that is the highest or
otherwise best bid.  Within 24 hour of such determination, Glenmoor
will notify LCS as to which Qualified Bid is the starting bid.

The Refund Queue Trust will have the right to credit bid its
secured claim towards the acquisition of the 11 Acre Parcel without
the necessity of submitting a formal written offer.  The Refund
Queue Trust shall, however, be required to provide notice to
Glenmoor prior to the Bid Deadline of its intent to exercise its
credit bid rights.

Upon the conclusion of the Auction (if the Auction is conducted),
Glenmoor will identify the highest and best bid.  The Debtor will
present the Successful Bid to the Bankruptcy Court for approval at
a sale hearing.

                      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.

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

Glenmoor filed its second voluntary petition under Chapter 11 of
the Bankruptcy Code (Bankr. M.D. Fla. Case No.: 16-01347) on
April 11, 2016.

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.


MACROCURE LTD: Receives NASDAQ Bid Price Non-Compliance Notice
--------------------------------------------------------------
Macrocure Ltd., a clinical-stage biotechnology company, on April 11
disclosed that on April 7, 2016, Macrocure received a notice from
NASDAQ regarding its non-compliance with the $1 per share minimum
bid price requirement stated in NASDAQ Listing Rule 5450(a)(1).

Macrocure has until October 4, 2016 to regain compliance with the
minimum bid price requirement, which will require Macrocure's
ordinary shares to achieve a closing market price of $1 or more for
a minimum of 10 consecutive business days.  If Macrocure fails to
meet this requirement, its ordinary shares will become subject to
delisting from the NASDAQ Global Market.

In lieu of delisting, Macrocure could consider applying to NASDAQ
to have its ordinary shares transferred to the NASDAQ Capital
Market, provided that it satisfies all of the requirements for
initial listing on that market, other than the $1 minimum bid price
requirement.  In that case, Macrocure would need to notify NASDAQ
of its intent to cure the minimum bid price deficiency during a
second 180 day compliance period, including by way of a reverse
share split, if necessary.  In order to approve the transfer to the
NASDAQ Capital Market, NASDAQ would need to verify that it believes
that it would be possible for Macrocure to cure the minimum bid
price deficiency.

If Macrocure's ordinary shares do not continue to be listed on the
NASDAQ Global Market or the NASDAQ Capital Market, trading, if any,
would be conducted in the over-the-counter market in the OTC
Bulletin Board or in any of the OTCQX(R), OTCQB(R) or OTC Pink(R)
tiered marketplaces, in which trading is typically carried out for
securities that do not meet NASDAQ listing requirements.

Consequently, selling Macrocure's ordinary shares would likely be
more difficult because smaller quantities of shares could be bought
and sold, transactions could be delayed, and security analyst and
news media coverage of Macrocure may be reduced.  These factors
could result in lower prices and larger spreads in the bid and ask
prices for Macrocure's shares.  There can be no assurance that
Macrocure's shares will continue to be listed on the NASDAQ Global
Market or, if transferred thereto, on the NASDAQ Capital Market.

                       About Macrocure Ltd.

Macrocure Ltd. -- http://www.Macrocure.com-- is a clinical-stage
biotechnology company that until recently was focused on developing
a novel therapeutic platform to address chronic and hard-to-heal
wounds.


MARIAH FARMS: Case Summary & 12 Unsecured Creditors
---------------------------------------------------
Debtor: Mariah Farms, Inc.
        6301 SE CR 31
        Kendall, KS 67857

Case No.: 16-10622

Chapter 11 Petition Date: April 12, 2016

Court: United States Bankruptcy Court
       District of Kansas (Wichita)


Judge: Hon. Robert E. Nugent

Debtor's Counsel: David R. Klaassen, Esq.
                  DAVID R. KLAASSEN
                  2649 6th Avenue
                  Marquette, KS 67464
                  Tel: (785) 546-2358
                  Email: drklaassen@ks-usa.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Robert Thomas Lampe, president.

A list of the Debtor's 12 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ksb16-10622.pdf


MEDICINE RIVER: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: Medicine River Ranch Operating Company, LLC
        PO Box 3
        Medicine Lodge, KS 67104

Case No.: 16-10635

Chapter 11 Petition Date: April 12, 2016

Court: United States Bankruptcy Court
       District of Kansas (Wichita)

Judge: Hon. Dale L. Somers

Debtor's Counsel: Eric W Lomas, Esq.
                  KLENDA AUSTERMAN LLC
                  1600 Epic Center
                  301 North Main Street
                  Wichita, KS 67202-4816
                  Tel: 316-267-0331
                  Fax: 316-267-0333
                  E-mail: elomas@klendalaw.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $1 million to $10 million

The petition was signed by Harry W. Dawson, manager and sole
member.

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


MICHAELS STORES: Egan-Jones Hikes FC Sr. Unsec. Rating From B-
--------------------------------------------------------------
Egan-Jones Ratings Company raised the foreign currency senior
unsecured rating on debt issued by Michaels Stores Inc. to BB- from
B- on March 24, 2016.

Michaels Stores, Inc. is a North American arts and crafts retail
chain.



NATHAN INTERMEDIATE: S&P Assigns 'B' CCR & Rates $445MM Loans 'B+'
------------------------------------------------------------------
Standard & Poor's Ratings Services assigned its 'B' corporate
credit rating to Overland Park, Kansas-based Nathan Intermediate
LLC.  The outlook is stable.

At the same time, S&P assigned its 'B+' issue-level rating and '2'
recovery rating to the company's $445 million first-lien credit
facility, comprising a $50 million revolving credit facility due
2021 (undrawn at close) and a $395 million first-lien term loan due
2023.  The '2' recovery indicates S&P's expectation of substantial
(70%-90%, lower half of range) recovery for the first-lien debt
holders in the event of default.  S&P also assigned a 'CCC+'
issue-level rating and '6' recovery rating to the company's $167
million second-lien term loan due 2023.  The '6' recovery indicates
S&P's expectation of negligible (0%-10%) recovery for the
second-lien debt holders.  The borrowers on the debt will consist
of Netsmart Technologies Inc., Netsmart Inc., and Andrews Henderson
LLC.

"The rating on Netsmart reflects our view of the company's narrow
focus and niche position in the fragmented post-acute electronic
health record segment of the health care information technology
industry, offset somewhat by its larger size and high recurring
revenue," said Standard & Poor's credit analyst Geoffrey Wilson.

The stable outlook reflects S&P's view of the company's consistent
profitability resulting partly from its large percentage of
recurring revenues generated by its license support, SaaS, and
hosting solutions, along with revenue under multiyear contracts
providing good visibility into future revenues.



NATIONAL CINEMEDIA: Files Post-Effective Amendment to Form S-3
--------------------------------------------------------------
National CineMedia, Inc., filed with the Securities and Exchange
Commission a post-effective amendment no.3 to its registration
statement on Form S-3 relating to the disposition from time to time
by the Company's founding member theatre circuits, or the selling
stockholders, of up to 77,520,333 shares of common stock, par value
$0.01 per share, of National CineMedia, Inc., or NCM, Inc.  

These include 77,320,333 shares issuable upon exchange on a
one-for-one basis of common membership units of National CineMedia,
LLC, or NCM LLC, the operating company for the Company's business
and of which the Company is a member and the sole manager, and
200,000 shares currently held by one of the selling stockholders.
Under the terms of the registration rights agreement with the
selling stockholders executed at the date of NCM, Inc.'s initial
public offering, NCM Inc. is required to register shares of its
common stock equal to the number of NCM LLC common membership units
held by each selling stockholder.

The selling stockholders hold an aggregate of 77,320,333 common
membership units that were issued in conjunction with the Company's
IPO and thereafter pursuant to contractual arrangements in effect
among NCM, Inc., NCM LLC and the selling stockholders relating to
net screens that have been added to the Company's network.  The
Company has registered for resale by its selling stockholders NCM,
Inc. common stock equal to all of the current outstanding common
membership units as required by the registration rights agreement
as well as the shares of common stock the selling stockholders
currently hold.

The Company will not pay any underwriting discounts or commissions
on the shares of common stock issued to the selling stockholders.
The Company will not receive any proceeds from the sale of common
stock by the selling stockholders.

The Company's common stock trades on the Nasdaq Global Select
Market under the symbol "NCMI."  On April 8, 2016, the reported
last sale price of the Company's common stock on the Nasdaq Global
Select Market was $14.26 per share.

The selling stockholders are American Multi-Cinema, Inc. and
affiliates; Cinemark Holdings, Inc. and affiliates; and Regal
Entertainment Group and affiliates.

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

                      http://is.gd/siHZ8o

                   About National CineMedia

National CineMedia, Inc., is the holding company of National
CineMedia, LLC.  NCM LLC operates the largest digital in-theatre
network in North America, allowing NCM to distribute advertising,
Fathom entertainment programming events and corporate events under
long-term exhibitor services agreements with American Multi-Cinema
Inc., a wholly owned subsidiary of AMC Entertainment Inc.; Regal
Cinemas, Inc., a wholly owned subsidiary of Regal Entertainment
Group; and Cinemark USA, Inc., a wholly owned subsidiary of
Cinemark Holdings, Inc.  NCM LLC also provides such services to
certain third-party theater circuits under "network affiliate"
agreements, which expire at various dates.

For the year ended Dec. 31, 2015, the Company reported net income
attributable to the Company of $15.4 million on $447 million of
revenue compared to net income of $13.4 million on $394 million of
revenue for the year ended Jan. 1, 2015.

As of Dec. 31, 2015, National Cinemedia had $1.08 billion in total
assets, $1.25 billion in total liabilities and a $171.7 million
total deficit.

                            *     *     *

As reported by the TCR on March 24, 2011, Standard & Poor's
Ratings Services raised its corporate credit ratings on
Centennial, Colorado-based National CineMedia Inc. and
operating subsidiary National CineMedia LLC (which S&P analyzes on
a consolidated basis) to 'BB-' from 'B+'.  "The 'BB-' corporate
credit rating reflects S&P's expectation that NCM's EBITDA growth
will enable the company to continue to de-lever over the
intermediate term despite its aggressive dividend policy," said
Standard & Poor's credit analyst Jeanne Shoesmith.


NATIONSTAR MORTGAGE: S&P Affirms 'B+' Rating on Sr. Unsec. Notes
----------------------------------------------------------------
Standard & Poor's Rating Services said it revised its recovery
rating on Texas-based Nationstar Mortgage LLC's senior unsecured
notes to '3' from '4' based on higher recovery expectations.  S&P
also affirmed the 'B+' rating on the notes.

In line with Standard & Poor's criteria, S&P assess recovery
prospects utilizing a simulated default scenario.  With regard to
Nationstar Mortgage, S&P believes creditors would ascribe the most
value to the company's mortgage servicing rights (MSRs).  S&P
calculated net recovery value of $1.23 billion after administrative
expenses of approximately $40 million and priority claims of $67
million.  S&P believes this value would be sufficient to provide
meaningful (50%-70%, in the lower half of the range) recovery for
unsecured claims.

S&P do not expect the company to face near-term difficulties given
the risks the company faces and current market conditions.  S&P's
simulated default scenario contemplates a default occurring in
2020, in the face of substantial curtailments on business practices
due to regulatory and compliance deficiencies in servicing
practices.

Eventually, the company's liquidity and capital resources become
strained to the point where it cannot continue to operate without
an equity infusion or bankruptcy filing.  As a result, the company
may find itself in the position of having to liquidate its MSRs.

In addition, S&P's default scenario assumes:

   -- A sustained period of rapid amortization of MSRs with
      limited ability to refinance the repayments,
   -- Limited new origination activity,
   -- Limited purchase of MSRs on the secondary market,
   -- An increase in borrower delinquencies, and
   -- An increase in the discount rate to value MSRs.

S&P believes the causes of a simulated default would be inherent to
the company's operating activities.  As a result, S&P believes
creditors would place the most value on the company's MSRs and
little, if any, value on the company's servicing platform.  S&P has
therefore valued the company through a discrete asset valuation of
the company's MSRs.

S&P has valued the company's MSRs at $1.3 billion.  To determine
net recovery value available for distribution to unsecured
creditors, S&P reduced its estimate of gross recovery value by 3%
to account for estimated bankruptcy administrative expenses.  S&P
also reduced the gross recovery value for $67 million of priority
claims related to cancellations of operating leases and repurchase
liabilities for loans originated and sold to Fannie Mae, Freddie
Mac, and Ginnie Mae.

About $1.2 billion of net recovery value is available for
distribution to senior unsecured creditors against a total claim of
$2.1 billion.

RATINGS LIST

Nationstar Mortgage LLC
Issuer Credit Rating      B+/Stable/--

Rating Affirmed; Recovery Rating Revised
                           To               From
Nationstar Mortgage LLC
Senior Unsecured          B+               B+
  Recovery Rating          3L               4H


NEPHROS INC: FDA Completes Evaluation of Corrective Actions
-----------------------------------------------------------
On May 27, 2015, Nephros, Inc. received a warning letter from the
U.S. Food and Drug Administration resulting from inspections of the
Company's facility in River Edge, New Jersey by the FDA's New
Jersey District Office that occurred in October 2014.  Subsequent
to that date, the Company responded to the Warning Letter and
worked to resolve the issues raised by the FDA.  

On Aug. 12, 2015, the Company received a subsequent letter from the
FDA noting that it had received the Company's response
correspondence to the Warning Letter detailing the Company's
completed corrective actions.  The corrective actions included
revisions to the Company's standard operating procedures relating
to purchasing and supplier controls, adverse event reporting, and
complaint handling and monitoring.  The Subsequent Letter also
noted that the FDA would verify the Company's implementation of
corrective measures at its next inspection of the Company's
facility.  Neither the Warning Letter nor the Subsequent Letter
restricted the manufacture, production or shipment of any of the
Company's products, nor did they require the withdrawal of any
product from the marketplace.  In February 2016, the FDA performed
another on-site inspection.  There were no observations, or 483's,
cited at the conclusion of the inspection.

On April 7, 2016, the Company received a third letter from the FDA
noting that the FDA has completed its evaluation of the Company's
corrective actions in response to the Warning Letter and that,
based on this evaluation, it appears that the Company has addressed
the violations contained in the Warning Letter.

A full-text copy of the Form 8-K report filed with the Securities
and Exchange Commission is available at http://is.gd/SG9nJQ

                           About Nephros

River Edge, N.J.-based Nephros, Inc., is a commercial stage
medical device company that develops and sells high performance
liquid purification filters.  Its filters, which it calls
ultrafilters, are primarily used in dialysis centers and
healthcare facilities for the production of ultrapure water and
bicarbonate.

Nephros reported a net loss of $3.08 million on $1.94 million of
total net revenues for the year ended Dec. 31, 2015, compared to a
net loss of $7.37 million on $1.74 million of total net revenues
for the year ended Dec. 31, 2014.  As of Dec. 31, 2015, the Company
had $3.97 million in total assets, $1.30 million in total
liabilities and $2.66 million in total stockholders' equity.

Withum Smith+Brown, PC, in Morristown, New Jersey, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has incurred
negative cash flow from operations and recurring net losses since
inception.  These conditions, among others, raise substantial doubt
about its ability to continue as a going concern.


NORTH-SOUTH ENTITY: Hires Hendren Redwine as Bankruptcy Counsel
---------------------------------------------------------------
North-South Entity, LLC, sought and obtained permission from the
U.S. Bankruptcy Court for the Eastern District of North Carolina to
employ Hendren Redwine & Malone, PLLC, as its counsel, nunc pro
tunc to March 3, 2016.

North-South Entity requires Hendren Redwine to represent and assist
in carrying the Debtor's duties under the provisions of Chapter 11
of the Bankruptcy Code. Hendren Redwine will represent the Debtor's
estate generally throughout the administration of the Chapter 11
proceeding.

The Debtor voluntarily paid Hendren Redwine $50,000 on March 2,
2016, which was deposited into the firm's Trust Account. From these
trust funds, $4,480 was paid to the firm representing fees and
expenses incurred pre-petition for the period of March 1, 2016 to
the time the petition was filed on March 3, 2016.

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

Jason L. Hendren, lawyer of Hendren Redwine & Malone, PLLC, 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.

Hendren Redwine can be reached at:

     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

                     About North-South

North-South Entity, LLC filed a voluntary petition for relief under
Chapter 11 of the Bankruptcy Code before the U.S. Bankruptcy Court
for the Eastern District of North Carolina (Bankr. E.D.N.C. Lead
Case No. 16-01146) on March 3, 2016. The petition was signed by J.
Whitney Honeycutt, president of NSH, Inc., sole managing member of
Debtor.

The Debtor has an estimated assets of $10 million to $50 million
and estimated debts of $1 million to $10 million. Judge David M.
Warren has been assigned the case.


PACIFIC EXPLORATION: Still Working With Creditors on Restructuring
------------------------------------------------------------------
Pacific Exploration & Production Corp. on April 11 confirmed that
it continues to work with its creditors to formulate a
comprehensive financial restructuring that will reduce debt,
improve liquidity, and best position the Company to navigate the
current oil price environment.  The Company, in conjunction with
its creditors, continues to evaluate methods to restructure its
balance sheet, ensure the long-term viability of its business and
preserve the Company's asset base.  Despite it being an ongoing and
confidential process, the Company is issuing this news release to
address and clarify certain reports that have appeared in the media
concerning the involvement of management in the process and to
respond to various other inquiries it has received.

-- As previously announced, the Company is in default under
certain of its debt instruments, being its: (i) U.S.$1.3 billion
principal amount 5.375% senior notes due 2019 (the "2019 Notes");
and (ii) U.S.$1.114 billion principal amount 5.625% senior notes
due 2025 (the "2025 Notes"), and certain of its credit agreements,
being its: (i) U.S.$1 billion revolving credit and guaranty
agreement with a syndicate of lenders and Bank of America, N.A, as
administrative agent; (ii) U.S.$250 million credit and guaranty
agreement with HSBC Bank USA, N.A., as agent; (iii) U.S.$109
million credit and guaranty agreement with Bank of America, N.A.,
as lender; and (iv) U.S.$75 million master credit agreement with
Banco Latino Americano de Comercio Exterior, S.A., as lender
(collectively, the "Credit Facilities").  The Company has entered
into agreements with certain holders (collectively, the
"Noteholders") of the 2019 Notes and the 2025 Notes and with the
requisite lenders (collectively, the "Bank Lenders") pursuant to
the Credit Facilities pursuant to which such Noteholders and Bank
Lenders have agreed: (i) in the case of the Noteholders, to forbear
from declaring the principal amounts of such Notes due and payable
as a result of certain specified defaults; and (ii) in the case of
the Bank Lenders, to forbear from declaring the principal amounts
of such Credit Facilities due and payable as a result of certain
specified defaults, in each case until April 29, 2016 (the
"Forbearance Period").  Upon the termination of the Forbearance
Period, all of the debt of the Company will potentially become due
and payable.  As the Company does not have the capital resources to
repay such amounts, it has been working with its creditors to
effect the comprehensive financial restructuring of the Company.

   -- A number of proposals have been received from third parties
regarding the restructuring; however these proposals are
confidential by their terms.  Disclosing details at this point
would not only breach confidentiality obligations of the Company,
but could also jeopardize the process that the Company has
undertaken to restructure its balance sheet.

   -- The Company's operations continue as normal and without
disruption.

   -- Throughout the discussions the Company has remained, and
intends to remain, current with its suppliers, trade partners and
contractors.

   -- Additionally, all proposals contemplate that the Company will
continue to remain current with its suppliers, trade partners and
contractors.

   -- Employees have been paid and will continue to be paid,
without disruption.

   -- Contrary to reports in the media, management (or members
thereof) of the Company will not be "given" equity in the
restructured Company under any proposal.  Rather, it is anticipated
that the restructuring will involve an incentive component whereby
management and key employees, post-restructuring, will be able to
earn a small percentage of equity in the restructured Company.
However, this will only be over time and upon achieving agreed,
pre-established performance metrics. Providing this type of
incentive to employees of the Company is customary and commonly
required by sponsors of restructuring plans to provide for the
retention and recruitment of employees critical to the ongoing
operations of the Company.  No awards under any such plan have yet
been awarded or otherwise allocated to any member of management.
As a result, no equity of the reorganized Company will be awarded
to management (or the Company's Executive Co-Chairmen) on
implementation of the restructuring.

   -- It is anticipated that current bank lenders and holders of
the Company's senior notes will take significant losses on the debt
of the Company that they hold and will likely be required to
convert much of their remaining debt into equity of the Company; as
well the Company will require additional capital.  Thus, current
shareholders will, as a result of the debt restructuring, likely
see their current shareholdings significantly diluted (such that
they will, following the restructuring, hold in the aggregate only
a nominal amount of common shares) or possibly canceled or
extinguished.

   -- Contrary to media reports, the Company is advised that
neither of the Company's Executive Co-Chairmen nor any other member
of management has a financial interest in any of the proposals
(other than the possibility of participating in the equity
incentive plan described above).

   -- The Company has been keeping all relevant authorities in
Colombia informed about the process and will continue to do so. In
that regard, the Company points interested shareholders to a
communication issued on April 9, 2016 by the Superintendency of
Finance of Colombia that states, among other things (unofficial
translation provided by the Company) "Issuers of securities
domiciled abroad are subject to, among others, the corporate,
corporate governance, tax and currency exchange regulations of the
country of domicile and are subject to judicial and administrative
authorities of the jurisdiction of origin, regardless of where they
carry out their corporate objects or where their securities are
registered.  In Pacific's case, the company -- due to having its
domicile in Canada -- is subject to administrative and corporate
regulation of that jurisdiction." Shareholders are reminded that
any questions or concerns can be directed to the Company at
ir@pacificcorp.energy

The Board of Directors has formed an Independent Committee of
directors to provide a recommendation to the Board with respect to
any potential restructuring.  The Independent Committee is
comprised of members of the Board who have no potentially competing
interest with respect to discharging the Committee's mandate to
recommend a solution that is in the best interests of the Company.
No member of the Independent Committee:

   -- is an employee of the Company or otherwise part of
management;

   -- is in any way involved in any of the proposals; nor

   -- has been nominated to the Board by a significant shareholder.


As such, the Independent Committee brings an independent oversight
to the debt restructuring process.  The Independent Committee has
been actively involved in the process throughout and has taken
steps to ensure its independent functioning, including retaining
its own legal and financial advisors who are not advisors to the
Company or any other potential party in the restructuring.

The Company and its creditors are committed to finding the best
alternative for the long-term interests of the Company, its
approximately 2,400 employees and more than 3,000 contract workers,
suppliers, customers and other stakeholders.  The Company intends
to advise the market by further news release if and when any
agreement is reached with respect to a restructuring.

The Company is being advised by Lazard Freres & Co. LLC, Norton
Rose Fulbright Canada LLP (Canada), Proskauer Rose LLP (U.S.),
Zolfo Cooper (U.S.) and Garrigues (Colombia).  The Independent
Committee of the Board is being advised by Osler, Hoskin & Harcourt
LLP and UBS Securities Canada Inc.  The noteholders forming part of
the negotiating creditor group are being advised by Evercore Group
LLC (U.S.), Goodmans LLP (Canada), Paul, Weiss, Rifkind, Wharton &
Garrison LLP (U.S.) and Cardenas y Cardenas Abogados (Colombia).
FTI Consulting (U.S.), Davis Polk & Wardwell LLP (U.S.), Torys LLP
(Canada) and Gómez-Pinzón Zuleta Abogados (Colombia) are counsel
to the Agent on the revolving credit facility, and Seward & Kissel
is the counsel to the Agent on the HSBC term loan.

                    About Pacific Exploration

Pacific Exploration & Production Corp. is a Canadian public company
and a leading explorer and producer of natural gas and crude oil,
with operations focused in Latin America.  The Company has a
diversified portfolio of assets with interests in more than 70
exploration and production blocks in various countries including
Colombia, Peru, Guatemala, Brazil, Guyana and Belize. The Company's
strategy is focused on sustainable growth in production & reserves
and cash generation.  

The Troubled Company Reporter-Latin America, on Feb. 23, 2016,
reported that Fitch Ratings says that the agency could downgrade
its ratings on Pacific Exploration and Production Corp. (Pacific;
Long-term Foreign and Local Currency Issuer Default Ratings of 'C')
to restricted default (RD).  This could occur after the expiration
of the recently negotiated extension with bondholders of the time
in which to declare principal due and payable on certain notes.
Fitch considers the extension of multiple waivers or forbearance
periods upon a payment default a restricted default given they
represent a material reduction in terms compared with the original
contractual terms.  Furthermore, the extension of multiple waivers
can be interpreted as a tool that is being conducted in order to
avoid bankruptcy.

                        *     *     *


On April 7, 2016, the TCR reported that Fitch Ratings downgraded
Pacific Exploration and Production Corp's (Pacific) Foreign and
Local Currency Long-term Issuer Default Ratings (IDRs) to
restricted default 'RD' from 'C'.  Concurrently, Fitch affirmed the
'C/RR4' long-term rating on Pacific's outstanding senior unsecured
debt issuances totaling approximately USD4 billion with final
maturities in 2019 through and 2025.

On Jan. 21, 2016, the TCR reported that Moody's Investors Service
has downgraded Pacific Exploration & Production Corp (Pacific
E&P)'s corporate family rating and senior unsecured debt ratings to
C from Caa3.

The TCR, on Jan. 20, 2016, reported that Standard & Poor's Ratings
Services said it lowered its long-term corporate credit and
issue-level ratings on Pacific Exploration and Production Corp
(Pacific) to 'CC' from 'CCC+'.  S&P also removed the rating from
CreditWatch with negative implications. The outlook is negative.

On Jan. 14, 2016, Pacific announced that it has elected to utilize
the 30 day grace period rather than make the interest payments due
on Jan. 19, 2016 and Jan. 26, 2016 of about $65 million.  Although
the company is still current on those obligations, S&P expects
default to be a virtual certainty.


PALMAZ SCIENTIFIC: Taps Haynes & Boone Over SEC Probe
-----------------------------------------------------
Palmaz Scientific Inc., and its debtor-affiliates seek
authorization from the Hon. Craig A. Gargotta of the U.S.
Bankruptcy Court for Western District of Texas to employ Haynes &
Boone LLP as special counsel, nunc pro tunc to March 4, 2016, to
represent the Debtors in connection with any investigation by the
Securities and Exchange Commission.

Haynes & Boone will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Ronald W. Breaux, partner of Haynes & Boon, 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.

Haynes & Boone can be reached at:

       Ronald W. Breaux, Esq.
       HAYNES & BOONE, LLP
       2323 Victory Avenue, Ste 700
       Dallas, TX 75219
       Tel: (214) 651-5688
       Fax: (214) 200-0376
       E-mail: ron.breaux@haynesboone.com

                     About Palmaz Scientific

Headquartered in San Antonio, Texas, Palmaz Scientific is a
research and development company dedicated to the advancement of
the technology and science of medical implants.

Palmaz Scientific Inc., Advanced Bio Prosthetic Surfaces, Ltd.,
ABPS Management, LLC and ABPS Venture One, Ltd., filed Chapter 11
bankruptcy petitions (Bankr. W.D. Tex. Proposed Nos. 16-50552,
16-50555, 16-50556 and 16-50554, respectively) on March 4, 2016.
The petitions were signed by Eugene Sprague as director.  The
Debtors estimated both assets and liabilities in the range of $10
million to $50 million.

The Debtors have engaged Norton Rose Fulbright US LLP as counsel,
Groff & Rothe as accountants and Upshot Services LLC as noticing
agent.

The case is assigned to Judge Craig A. Gargotta.



PARS PROPERTIES: 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 Pars Properties, LLC.

Pars Properties, LLC, sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Middle
District of Florida (Orlando) (Case No. 16-01636) on March 11,
2016. The petition was signed by Hossein Olama, manager.

The Debtor is represented by Scott R. Shuker, Esq., at Latham,
Shuker, Eden & Beaudine LLP.

The Debtor estimated both assets and liabilities in the range of $1
million to $10 million.


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

      Debtor                                           Case No.
      ------                                           --------
      Peabody Energy Corporation                       16-42529
      701 Market Street, Suite 760
      St. Louis, MO 63101

      Big Sky Coal Company                             16-42530
      Peabody Colorado Services, LLC                   16-42531
      Peabody Electricity, LLC                         16-42532
      Peabody Caballo Mining, LLC                      16-42533
      Cyprus Creek Land Company                        16-42534
      American Land Development, LLC                   16-42535
      Peabody International Investments, Inc.          16-42536
      Caseyville Dock Company, LLC                     16-42537
      Peabody Employment Services, LLC                 16-42538
      Peabody Coalsales, LLC                           16-42539
      American Land Holdings of Colorado LLC           16-42540
      Peabody International Services, Inc.             16-42541
      Peabody Cardinal Gasification, LLC               16-42542
      Coal Reserve Holding Limited Liability Co. No.   16-42543
      Black Hills Mining Company, LLC                  16-42544
      Peabody Arclar Mining, LLC                       16-42545
      American Land Holdings of Indiana, LLC           16-42546
      Falcon Coal Company, LLC                         16-42547
      Gold Fields Chile, LLC                           16-42548
      Peabody Investments Corp.                        16-42549
      Peabody Coulterville Mining, LLC                 16-42550
      Central States Coal Reserves of Indiana, LLC     16-42551
      Peabody China, LLC                               16-42552
      Big Ridge, Inc.                                  16-42553
      BTU Western Resources, Inc.                      16-42554
      Peabody Asset Holdings, LLC                      16-42555
      Four Star Holdings, LLC                          16-42556
      Peabody Development Company, LLC                 16-42558
      Caballo Grande, LLC                              16-42559
      Colorado Yampa Coal Company, LLC                 16-42560
      Gold Fields Mining, LLC                          16-42561
      Arid Operations, Inc.                            16-42562
      Peabody Colorado Operations, LLC                 16-42563
      Conservancy Resources, LLC                       16-42564
      Peabody Bear Run Mining, LLC                     16-42565
      HMC Mining, LLC                                  16-42566
      Century Mineral Resources, Inc.                  16-42567
      Francisco Equipment Company, LLC                 16-42568
      James River Coal Terminal, LLC                   16-42569
      COALSALES II, LLC                                16-42570
      American Land Holdings of West Virginia, LLC     16-42571
      Cottonwood Land Company                          16-42572
      Kentucky United Coal, LLC                        16-42573
      Peabody Bear Run Services, LLC                   16-42574
      Peabody COALTRADE, LLC                           16-42575
      Midwest Coal Acquisition Corp.                   16-42576
      Juniper Coal Company, LLC                        16-42577
      Gold Fields Ortiz, LLC                           16-42578
      American Land Holdings of New Mexico, LLC        16-42579
      Francisco Land Holdings Company, LLC             16-42580
      Peabody Gateway Services, LLC                    16-42581
      NM Equipment Company, LLC                        16-42582
      Hayden Gulch Terminal, LLC                       16-42583
      Lively Grove Energy Partners, LLC                16-42584
      Midco Supply and Equipment Corporation           16-42585
      Gallo Finance Company, LLC                       16-42586
      Peabody Magnolia Grove Holdings, LLC             16-42587
      Highwall Mining Services Company                 16-42588
      American Land Holdings of Kentucky, LLC          16-42589
      Peabody COALTRADE International (CTI), LLC       16-42590
      Francisco Mining, LLC                            16-42591
      Peabody Holding Company, LLC                     16-42592
      Peabody Midwest Management Services, LLC         16-42593
      Hillside Recreational Lands, LLC                 16-42594
      Lively Grove Energy, LLC                         16-42595
      Peabody PowerTree Investments LLC                16-42596  
      Midwest Coal Reserves of Illinois, LLC           16-42597
      Pacific Export Resources, LLC                    16-42598
      Illinois Land Holdings, LLC                      16-42599
      American Land Holdings of Illinois, LLC          16-42600
      Peabody IC Holdings, LLC                         16-42601
      Cyprus Creek Land Resources LLC                  16-42602
      Peabody Rocky Mountain Management Services, LLC  16-42603
      Peabody Holdings (Gibraltar) Limited             16-42604
      Peabody Recreational Lands L.L.C.                16-42605
      Independence Material Handling, LLC              16-42606
      Kayenta Mobile Home Park, Inc.                   16-42607
      Peabody Midwest Services, LLC                    16-42608
      Peabody America, LLC                             16-42609
      Peabody Illinois Services, LLC                   16-42610
      Midwest Coal Reserves of Indiana, LLC            16-42611
      Dyson Creek Coal Company, LLC                    16-42612
      Peabody Powder River Services, LLC               16-42613
      Peabody Terminals, LLC                           16-42614
      Peabody IC Funding Corp.                         16-42615
      Peabody Rocky Mountain Services, LLC             16-42616
      Peabody Mongolia, LLC                            16-42617
      Kentucky Syngas, LLC                             16-42618
      Peabody Indiana Services, LLC                    16-42619
      Midwest Coal Reserves of Kentucky, LLC           16-42620
      Dyson Creek Mining Company, LLC                  16-42621
      Peabody Trout Creek Reservoir LLC                16-42622
      Peabody Archveyor, L.L.C.                        16-42623
      Peabody Gateway North Mining, LLC                16-42624
      Peabody Sage Creek Mining, LLC                   16-42625
      Peabody Natural Gas, LLC                         16-42626
      Peabody Twentymile Mining, LLC                   16-42627
      Marigold Electricity, LLC                        16-42628
      Pond River Land Company                          16-42629
      Peabody Williams Fork Mining, LLC                16-42630
      Peabody Southwest, LLC                           16-42631
      Peabody Energy Solutions, Inc.                   16-42632
      Peabody School Creek Mining, LLC                 16-42633
      Peabody Natural Resources Company                16-42634
      Sage Creek Land & Reserves, LLC                  16-42635
      Moffat County Mining, LLC                        16-42636
      Peabody Venture Fund, LLC                        16-42637
      PG Investments Six, L.L.C.                       16-42638
      Star Lake Energy Company, L.L.C.                 16-42639
      Peabody Wyoming Gas, LLC                         16-42640
      Peabody Southwestern Coal Company, LLC           16-42641
      Peabody Energy Investments, Inc.                 16-42642
      School Creek Coal Resources, LLC                 16-42643
      Peabody Western Coal Company                     16-42644
      Peabody Services Holdings, LLC                   16-42645
      Peabody New Mexico Services, LLC                 16-42646
      New Mexico Coal Resources, LLC                   16-42647
      Porcupine Production, LLC                        16-42648
      Sugar Camp Properties, LLC                       16-42649
      Peabody Terminal Holding Company, LLC            16-42650
      Peabody Venezuela Coal Corp.                     16-42651
      Seneca Coal Company, LLC                         16-42652
      Peabody Wyoming Services, LLC                    16-42653
      Twentymile Holdings, LLC                         16-42654
      Point Pleasant Dock Company, LLC                 16-42655
      Peabody Energy Generation Holding Company        16-42656
      Mustang Energy Company, LLC                      16-42657
      Wild Boar Equipment Company, LLC                 16-42658
      Seneca Property, LLC                             16-42659
      Peabody Midwest Operations, LLC                  16-42660
      Wild Boar Land Holdings Company, LLC             16-42661
      Peabody-Waterside Development, L.L.C.            16-42662
      United Minerals Company LLC                      16-42663
      Riverview Terminal Company                       16-42664
      Porcupine Transportation, LLC                    16-42665
      Peabody Powder River Mining, LLC                 16-42666
      Peabody Midwest Mining, LLC                      16-42667
      Shoshone Coal Corporation                        16-42668
      Twentymile Coal, LLC                             16-42669
      Sage Creek Holdings, LLC                         16-42670
      West Roundup Resources, LLC                      16-42671
      Peabody Wild Boar Mining, LLC                    16-42672
      PEC Equipment Company, LLC                       16-42673
      Southwest Coal Holdings, LLC                     16-42674
      Twentymile Equipment Company, LLC                16-42675
      Peabody Powder River Operations, LLC             16-42676
      Peabody Wild Boar Services, LLC                  16-42677
      Peabody Operations Holding, LLC                  16-42678
      Thoroughbred Generating Company, L.L.C.          16-42679
      Thoroughbred Mining Company LLC                  16-42680
      Central States Coal Reserves of Illinois, LLC    16-42688
      El Segundo Coal Company, LLC                     16-42691
      Empire Land Holdings, LLC                        16-42692

Type of Business: Peabody claims to be the world's largest
                  private-sector coal company by volume, with
                  interests in 26 active mining operations in the
                  United States and Austria.

Chapter 11 Petition Date: April 13, 2016

Court: United States Bankruptcy Court
       Eastern District of Missouri (St. Louis)

Judge: Hon. Barry S. Schermer

Debtors'          Heather Lennox, Esq.
General           JONES DAY
Counsel:          North Point
                  901 Lakeside Avenue
                  Cleveland, OH 44114
                  Tel: (216) 586-3939
                  Fax: (216) 579-0212
                  Email: hlennox@jonesday.com

                    - and -

                  Amy Edgy, Esq.
                  Daniel T. Moss, Esq.
                  JONES DAY
                  51 Louisiana Avenue, N.W.
                  Washington, DC 20001-2113
                  Tel: (202) 879-3939
                  Fax: (202) 626-1700
                  Email: aedgy@jonesday.com
                         dtmoss@jonesday.com

Debtors'          Steven N. Cousins, Esq.
Local Co-Counsel: Susan K. Ehlers, Esq.
                  ARMSTRONG, TEASDALE LLP
                  7700 Forsyth Blvd, Suite 1800
                  St. Louis, MO 63105
                  Tel: (314) 621-5070
                  Email: scousins@armstrongteasdale.com
                         sehlers@armstrongteasdale.com

Debtors'          LAZARD FRERES & CO. LLC AND  
Investment        LAZARD PTY LIMITED
Banker:

Debtors'          FTI CONSULTING, INC.
Financial
Advisors:

Debtors'          KURTZMAN CARSON CONSULTANTS, LLC
Claims,
Ballot
and Noticing
Agent:

Total Assets: $11.02 billion as of December 31, 2015

Total Debts: $10.10 billion as of December 31, 2015

The petition was signed by Walter L. Hawkins, Jr., senior vice
president, finance.

List of Debtor's 50 Largest Unsecured Creditors:

   Entity                          Nature of Claim    Claim Amount
   ------                          ---------------    ------------
U.S. Bank National Association    6.00% Unsecured   $1,555,778,642
As Trustee                        Notes - Due 2018
Attn: Phillip Kane, Jr.
225 Asylum Street 26th Floor
Hartford, CT 06103
Tel: 1-806-241-6843

U.S. Bank National Association,   6.25% Unsecured   $1,373,599,925
As Trustee                         Notes Due 2021
Attn: Phillip Kane,Jr.
225 Asylum Street 26th Floor
Hartfod, CT 06103

U.S. Bank National Association,    4.75% Unsecured    $743,713,792
As Trustee                          Notes Due 2066
Attn: Phillip Kane, Jr.
225 Asylum Street 26th Floor
Hartford, CT 06103
Tel: 1-806-241-6843
Fax: 1-860-241-6883
Email: phillip.kanejr@usbank.com

U.S. Bank National Association,     6.50% Unsecured   $674,176,333
As Trustee                            Notes Due 2020
Attn: Phillip Kane, Jr.
225 Asylum Street 26th Floor
Hartford, CT 06103
Tel: 1-806-241-6843
Fax: 1-860-241-6883
Email: phillip.kanejr@usbank.com

U.S. Bank National Association,     7.875% Unsecured  $258,803,050
As Trustee                            Notes Due 2026
Attn: Phillip Kane, Jr.
225 Asylum Street 26th Floor
Hartford, CT 06103
Tel: 1-806-241-6843

Office of Natural Resources              Lease        $249,382,241
Revenue
Attn: Gregory G. Gould
PO Box 25165
Denver, CO 80225-0627
Tel: 1-303-231-3162

Patriot Veba                          Settlement       $11,697,000
Attn: John D. Cohel
55 West Monroe Street,
Suite 1200
Chicago, IL 60603
Tel: 1-312-641-0060
Fax: 1-312-641-6959

Kinder Morgan Petcoke L.P.            Settlement        $5,500,000
Attn: Jeffrey Hepsperger
500 Dallas St. Suite 1000
Houston, TX 77002
Tel: 1-832-463-4286
Email: Jeff_Hepsperger@kingermorgan.com

Dyno Nobel Inc.                        Trade Debt       $4,316,002
Attn: Kelley Arnold
2795 East Cottonwood
Parkway, Suite 500
Salt Lake City, UT 84121
Tel: 1801-328-6446
Fax: 1-801-324-6707
Email: kelley.arnold@am.dynonobel.com

Liebherr Mining Equipment Co.           Trade Debt      $3,814,677
Attn: Arelene Cepeda
270 Park Avenue
Newport News, VA 23607
Tel: 1-757-245-5251
Email: Arlene.Cepeda@liebherr.com

Wyoming Machinery Company               Trade Debt      $2,791,044
Attn: Cindy Nettles
820 Shades Creek Parkway,
Ste 2000
Gillette, WY 82718
Tel: 1-414-768-4938
Fax: 1-307-682-2830
Email: cindy.nettles@cat.com

Bank of America Leasing                 Trade Debt      $2,118,078
Attn: Lawrence Grayson
233 S. Wacker Drive Ste 2800
Chicago, IL 60606 US
Tel: 1-980-388-6780
Email: Lawrence.Grayson@bankofAmerica.com

Komatsu Equipment                       Trade Debt      $2,013,586
Attn: John Pfisterer
1701 Gold Road, Suite 1-100
Rolling Meadows, IL 60008
Tel: 1-847-437-5800
Fax: 1-847-437-5800
Email: johnp@komatsueq.com

Wagner Equipment Co.                    Trade debt      $1,830,790
Attn: Kevin Smith
18000 Road Aurora, CO
80011
Tel: 1-303-739-3097
Fax: 1-303-739-3338
Email: kreid@wagnerequipment.com

Joy Global Underground Mining LLC        Trade Debt     $1,462,982
Attn: Brad Rushford
1526 Kanawha Boulevard E. Columbus,
OH 43271-4133
Tel: 1-205-487-6492
Fax: 1-205-487-4233
Email: brad.rushford@joy.com

Morgan Stanley Capital Services LLC       Trade Debt    $1,424,104
Attn: Eric Grossman      
1585 Broadway
New York, NY 10036
Tel: 1-212-761-4000

Opera House JV LLC                       Sponsorship    $1,347,015

Attn: Christopher P. McKee
1401 Clark Avenue
St. Louis, MO 63103
Tel: 1-314-961-0171
Email: cmckee@operastl.org

Macallister Machinery Co. Inc.           Trade Debt     $1,265,451
Attn: John Deckard
1453 W 150 S
Washington, IN 47501
Tel: 1-812-254-1712
Fax: 1-812-254-7851
Email: jdeckard@macallister.com

Joy Global Surface Mining Inc.           Trade Debt     $1,249,346
Attn: Diana Begaye
#2 Winland CT
Farmington, NM 87401-1842
Tel: 1-505-327-7462
Fax: 1-505-325-1677
Email: peabody-purchasing@joyglobal.com

Mine Safety & Health ADM.                Trade Debt     $1,183,876
Attn: Joseph A. Main
1100 Wilson Blvd. Room 2508
Arlington, VA 22209-3939
Tel: 1,202-693-9400
Fax: 202-693-9401

Empire Southwest, LLC                    Trade Debt     $1,142,126
Attn: Jim Tim May
10790 S. Hwy 59
Kayenta, AZ 86033
Tel: 1-928-677-3385
Fax: 1-928-677-3379
Email: kayenta.parts@empire-cat.com

Whayne Supply Co.                        Trade Debt     $1,103,227
Attn: Monty Boyd
1001 Linn Station Road
Louisville, KY 40223
Tel: 1-800-494-2963
Fax: 1-812-422-6563
Email: Monty_boyd@whayne.com

Nelson Brothers, LLC                     Trade Debt     $1,074,170
Attn: Ralph Hymer
820 Shades Creek Parkway
Ste 200
Birmingham, AL 35209
Tel: 1-205-802-5329
Fax: 1-205-802-5346
Email: rhymer@nelbro.com

Monsanto Company                        Trade Debt      $1,020,537
Attn: Steve Spinner
800 N Linderbergh
St Louis, MO 63167-0001
Tel: 1-314-694-1000
Email: Steve.spinner@monsanto.com

Illinois Department of Commerce           Grant         $1,000,641
Attn: Justin Heather
500 East Monroe
Springfield, IL 62701-1643
Tel: 1-217-782-7500
Fax: 1-800-785-6055

Interstate Power Systems, Inc.          Trade Debt       $867,160
Attn: Larry Schwartz
2901 E. 78th St.
Bloomington, MN 55425
Tel: 1-952-854-2044
Fax: 1-952-876-5711
Email: Larry.schwartz@istate.com

Wells Fargo Equipment Finance, Inc.      Trade Debt      $852,200
Attn: James M. Strother
733 Marquette Ave
Minneapolis, MN 55479-2048
Tel: 1-866-726-4714
Email: investorelations@wellsfargo.com

Millennium Chemicals                    Contractual      $850,000
c/o Alix Partners                        Obligation
Attn: Kathy Koorenny
909 Third Avenue New York,
NY 10022
Tel: 1-212-490-2500
Fax: 1-212-490-1344
Email: kkoorenny@alixpartners.com

Rudd Equipment Corp.                     Trade Debt      $846,651
Attn: Jeff Southworth
600 14th St. N.W.
Indianapolis, IN 46242-0367
Tel: 1-317-247-9125
Fax: 1-317-248-0569
Emai: jsouthworth@rudequipment.com

Hollyfrontier Refining & Marketing        Trade Debt     $758,445
Attn: Brent Erikson
2828 North Harwood, Ste 1300
Dallas, TX 75201
Tel: 1-303-714-0133
Email: brent.erikson@hollyfrontier.com

Michelin North America, Inc.              Trade Debt     $752,771
Attn: Stephen Wilcher
12398 Collections Center DR
Chicago, IL 60693
Tel: 1-800-382-2456
Email: Stephen.wilcher@us.michelin.com

Salt River Project Agricultural            Trade Debt    $751,876
Improvement and Power District
Attn: John Soethe
PO Box 52025
Phoenix, AZ 85072-2025
Tel: 1-602-236-8888
Email: john.soethe@srpnet.com

Templeton Mineral Lands, LLC                 Royalty     $690,674
Attn: General Counsel
701 Wabash Avenue
Terre Haute, IN 47807
Tel: 1-812-232-7037
Fax: 1-812-232-7037
Email: general@templetoncoal.com

Flanders Electric Motor Service            Trade Debt     $681,018
Attn: Dave Patterson
8101 Baumgart Rd. PO Box
23130 Evansville, IN 47724
Tel: 1-812-867-7421
Fax: 1-812-867-2687
Email: davepatterson@flanderselectric.com

United Central Industrial Supply LLC       Trade Debt     $673,173
Attn: Henry Looney
1241 Volunteer Parkway
Bristol, TN 37620
Tel: 1-423-573-7300
Fax: 1-423-573-7297
Email: Hlooney@unitedcentral.net

Wesco Distribution, Inc.                   Trade debt     $636,736
Attn: Pamela Senn
4510 Pennsylvania Ave, FL 3
Ste F
Gillette, WY 82716
Tel: 1-307-687-0014
Fax: 1-307-686-2322
Email: pamelasenn@wesco.com

Fairmont Supply Company                    Trade Debt     $634,925
Attn: Rudi Strobl
75 Remittance Drive Dept 104
Chicago, IL 60675-1404
Tel: 1-724-514-3938
Fax: 1-724-514-3886
Email: rudistrobl@fairmontsupply.com

Yampa Valley Electric Assn., Inc.           Trade Debt    $633,955
Attn: Megan Moore-Kemp
2211 Elk River Road
Steamboat Springs, CO
80487-5076
Tel: 1-888-873-9832
Fax: 1-970-879-7270

SAP America, Inc.                          Trade Debt     $628,783
Attn: Mary Beth Hanss
3999 West Chester Pike
Newton Square, PA 19073
Tel: 1-610-661-1000
Fax: 1-610-661-1000

Coronado Coal II LLC                       Trade Debt     $572,162
Attn: Pete Richie
4425 Anjean Road, P.O. Box G
Rupert, WV 25984
Tel: 1-304-392-1000
Email: Pete.ritchie@buffaloenergydivision.com

Southeastern Illinois Electric             Trade Debt     $555,069
Attn: Dustin Tripp
585 Highway 142
Seldorado, IL 62930-0371
Tel: 1-618-273-2611
Fax: 1-618-273-3886
Email: Dustintripp@seiec.com

NXT Capital LLC                            Trade Debt     $494,293
Attn: Bruce Frank
191 North Wacker Drive
Chicago, IL 60606
Tel: 312-450-8000
Fax: 312-450-8100
Email: info@nyxtcapital.com

Union Wire Rope                             Trade Debt    $485,288
Attn: John Embray
609 North 2nd Street
Kansas City, MO 64163-1244
Tel: 1-816-236-5147
Fax: 816-270-4739
Email: johnembray@wirecoworldgroup.com

Brake Supply Co. Inc.                       Trade Debt    $472,777
Attn: David Koch
5501 Foundation Blvd
Evansville, IN 47725
Tel: 1-812-467-1000
Fax: 812-429-9474

Western Refining Wholesale, Inc.            Trade Debt    $468,840
Attn: James Marker
1250 West Washington St. #101
Tempe, AZ 85281
Tel: 1-602-286-1534
Fax: 602-683-5724
Email: james.markert@wnr.com

State Board of Land Commissioner             Royalty      $444,176
Attn: Bill  Ryan
1127 Sherman Street, Suite 300
Denver, CO 80203-2206
Tel: 303-866-3454
Email: bill.ryan@state.co.us

ESCO Supply                                 Trade Debt    $432,583
Attn: Calvin Collins
14785 Collectins CTR Dr
Chicago, IL 60693
Tel: 503-778-6310
Email: Calvin.collins@escocorp.com

Black Hills Power, Inc.                     Trade Debt    $405,000
Attn: Kelley Buum
625 Ninth Street
Rapid City, SD 57701
Tel: 1-605-721-1700
Fax: 605-721-2597
Email: Kelly.buum@blackhillscorp.com

Bridgestone Americas Inc.                   Trade Debt    $364,191
Attn: Yusuke Koreeda
535 Marriott Drive
Nashville, TN 37214-0990
Tel: 615-945-9991
Email: Koreedayusuke@bfusa.com

Pension Benefit Gurantee Corp.               Pension  Undetermined
Attn: W. Thomas Reeder Jr.                Obligations
P.O. Box 77000
Detroit, MI 4877-0430
Tel: 1-202-326-4000
Email: pbgcpublicaffairs@pbgc.gov


PEABODY ENERGY: Files Voluntary Chapter 11 Bankruptcy Petition
--------------------------------------------------------------
Taking a major step to strengthen liquidity and reduce debt amid an
unprecedented industry downturn, Peabody Energy Corporation on
April 13 voluntarily filed petitions under Chapter 11 for the
majority of its U.S. entities in the United States Bankruptcy Court
for the Eastern District of Missouri.  Through this process, the
company intends to reduce its overall debt level, lower fixed
charges, improve operating cash flow and position the company for
long-term success, while continuing to operate under the protection
of the court process.

All of the company's mines and offices are continuing to operate in
the ordinary course of business and are expected to continue doing
so for the duration of the process.  No Australian entities are
included in the filings, and Australian operations are continuing
as usual.

"This was a difficult decision, but it is the right path forward
for Peabody.  We begin today to build a highly successful global
leader for tomorrow," said Peabody President and Chief Executive
Officer Glenn Kellow.  "Through [Wednes]day's action, we will seek
an in-court solution to Peabody's substantial debt burden amid a
historically challenged industry backdrop.  This process enables us
to strengthen liquidity and reduce debt, build upon the significant
operational achievements we've made in recent years and lay the
foundation for long-term stability and success in the future."

In connection with the process, Peabody has obtained $800 million
in debtor-in-possession financing facilities, which were arranged
by Citigroup and include participation of a number of the company's
secured lenders and unsecured noteholders.  The facilities include
a $500 million term loan, a $200 million bonding accommodation
facility and a cash collateralized $100 million letter of credit
facility, and are subject to court approval as well as limitations
as set out in the company's filings.  In addition to the company's
existing cash position, Peabody believes that it has sufficient
liquidity to operate its business worldwide post-petition and to
continue the flow of goods and services to its customers in the
ordinary course.

Peabody also announced today that the planned sale of the company's
New Mexico and Colorado assets was terminated after the buyer was
unable to complete the transaction.

The factors affecting the global coal industry in recent years have
been unprecedented.  Industry pressures in recent years include a
dramatic drop in the price of metallurgical coal, weakness in the
Chinese economy, overproduction of domestic shale gas and ongoing
regulatory challenges.

Still, multiple third-party estimates project that both the U.S.
and global coal demand will stabilize.  U.S. gas prices are
projected to rebound from recent lows.  Globally, thermal coal is
expected to continue to fuel hundreds of existing coal generating
plants as well as scores more that are under construction.  Coal
currently fuels approximately 40 percent of global electricity and
is expected to be an essential source of global electricity
generation and steel making for many decades to come.  

"A company like Peabody with safe, efficient operations will be
well positioned to serve coal demand that will continue in the
United States and around the world," said Mr. Kellow.  "We are a
leading producer and reserve holder in our core regions of the
Powder River Basin, Illinois Basin and Australia.  Peabody has a
new management team, outstanding workforce, unmatched asset base
and strong underlying operational performance that represent a key
driver in the company's future success."

In 2015, all of Peabody's U.S. operations were cash-flow positive,
the Australian platform earned more than the prior year despite
lower prices for coal and the company's administrative expenses and
capital investments were at the lowest levels in nearly a decade.

Mr. Kellow noted that, throughout this process, the company will
continue to be guided by its mission and values that include
safety, customer focus, leadership, people, excellence, integrity
and sustainability.  The company also continues to take aggressive
steps to improve the business with actions consistent with its core
priorities in the operational, financial and portfolio areas.

This process does not change Peabody's approach toward best
practices in mining and its focus on sustainability to create
high-quality land restoration for generations that follow.  The
company sees its land restoration as an essential part of the
mining process, takes great pride in the work it does and has been
consistently recognized for these programs.  In addition, Peabody
intends to continue to work with the applicable state governments
and federal agencies to meet its reclamation obligations.

Peabody has filed pleadings, referred to as "first day" motions,
with the U.S. Bankruptcy Court.  These motions are expected to
enable the company to continue, among other things, paying employee
wages and providing healthcare and other benefits without
interruption.

Also, as required under New York Stock Exchange regulations,
trading in shares of the company stock on the NYSE is expected to
be suspended immediately.

The company also has established a call center for questions:
866-967-1783 if calling from within the U.S. or 310-751-2683 if
calling from outside the U.S. or Canada.  If calling from
Australia: 1300 386 742 and +61 3 9415 4613 if calling from outside
of Australia.

Peabody is committed to communicating with stakeholders during this
process.  Additional information on the process can be found at
PeabodyEnergy.com on the Chapter 11 Protection tab.  Information
about the claims process, as well as copies of the court petitions
and first day motions (which contain information that has not
previously been made public), will be available at
www.kccllc.net/Peabody which can also be linked through the
Company's website.  In addition, the Company is posting on its
website a declaration of its chief financial officer in support of
its first day motions.  This declaration includes, among other
things, information about: our capital structure, including its
current debt, employee and other obligations; its recent financial
performance and the events leading to the filing; discussions with
creditors and its current liquidity.  Additional information
regarding the voluntary filings, as well as an Australian
intercompany credit facility, is described in its Current Report on
Form 8-K filed with the Securities and Exchange Commission and is
expected to be available the morning of April 13, 2016.

Related to these activities, Peabody has retained Jones Day as its
legal advisor, Lazard Freres & Co. LLC as its investment banker and
financial advisor and FTI Consulting Inc. as its restructuring
advisor.

                       About Peabody Energy

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.   The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.
(listed alphabetically).

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777.3 million in 2014 and the $512.6 million net
loss in 2013.  The Company reported a net loss attributable to
common stockholders of $585.7 million in 2012.

At Dec. 31, 2015, the Company had total assets of $11.021 billion
against $10.102 billion in total liabilities, and stockholders'
equity of $918.5 million.

                        *     *     *

Peabody Energy warned in its Form 10-K filed with the Securities
and Exchange Commission on March 16, 2016, that it might have to
file for bankruptcy protection and said there is "substantial
doubt" about whether the company could continue to operate outside
bankruptcy.

Moody's Investors Service has downgraded the ratings of Peabody
Energy, including the corporate family rating (CFR) to Ca from
Caa3; and Standard & Poor's Ratings Services said it lowered its
corporate credit rating on the Company to 'D' from 'CCC+',
following the Company's announcement.  Fitch Ratings also has cut
Peabody Energy's long-term Issuer Default Rating (IDR) to 'C' from
'CC'.  

The company has been in discussions with creditors on an out of
court restructuring, but Fitch views bankruptcy as a highly likely
risk.


PEABODY ENERGY: Receivables Purchase Agreement Revised Amid Ch.11
-----------------------------------------------------------------
Peabody Energy Corporation has an accounts receivable
securitization program through its wholly owned subsidiary, P&L
Receivables Company, LLC.  Under the AR program, Peabody
contributes a pool of eligible trade receivables to P&L
Receivables, which then sells, without recourse, the receivables to
various conduit and committed purchasers.

Effective April 12, 2016, P&L Receivables and Peabody entered into
an amendment to the Fifth Amended and Restated Receivables Purchase
Agreement that modified the Receivables Purchase Agreement such
that the Debtors' Chapter 11 filings would not result in an
automatic termination of the AR program that would result in the
acceleration of the obligations thereunder.

However, if an order approving certain amendments to the AR
program, the assumption of the related documents and superpriority
status for the claims under the AR program is not entered on or
prior to May 1, 2016, the AR Program will automatically terminate.

PNC BANK, N.A., serves as Administrator and as the sole Purchaser
Agent, Committed Purchaser, LC Bank and LC Participant.

A full-text copy of the amendment to the Receivables Purchase
Agreement is available at http://is.gd/p5037I

Peabody Energy Corp., and a majority of its wholly owned domestic
subsidiaries, as well as one international subsidiary in Gibraltar,
filed on April 13, 2016, voluntary Chapter 11 bankruptcy petitions
(E.D. Mo. Case No. 16-42529) on April 13, 2016.


PEABODY ENERGY: Sale of Mine Assets to Bowie Resources Cancelled
----------------------------------------------------------------
Four Star Holdings, LLC, an indirect subsidiary of Peabody Energy
Corp., entered into a Purchase and Sale Agreement, dated as of
November 20, 2015 with Western Megawatt Resources, LLC, a
subsidiary of Bowie Resource Holdings, LLC.  Four Star is the sole
owner of Southwest Coal Holdings, LLC, which owns, directly and
indirectly, all of the equity interests of the various entities
that hold Peabody's El Segundo and Lee Ranch coal mines and related
mining assets located in New Mexico and at Twentymile Mine in
Colorado. Pursuant to the Purchase Agreement, Bowie would acquire
100% of the ownership interests of Southwest in exchange for $358
million in cash, subject to customary purchase price adjustments in
respect of working capital, accounts receivable, debt and
transaction expenses at the time of closing.  

On March 30, 2016, Four Star and Bowie entered into the Limited
Waiver to Purchase and Sale Agreement whereby Four Star waived its
termination rights under the Purchase Agreement until 11:59:59
p.m., New York time, on April 7, 2016 and Purchaser waived its
termination rights under the Purchase Agreement until 11:59:59
p.m., New York time, on April 15, 2016.

Pursuant to Section 7.01 of the Purchase Agreement, Four Star
terminated the Purchase Agreement by written notice on April 12,
2016, effective April 12, 2016, and directed Bowie to pay the $20
million termination fee.

In a press statement on Nov. 20, 2015, Peabody said it has entered
into a definitive agreement to sell its New Mexico and Colorado
coal assets to Bowie for $358 million in cash, subject to customary
working capital adjustments.  Bowie will also assume approximately
$105 million in related liabilities.  The transaction was entered
into following a competitive bidding process.

As reported by the Troubled Company Reporter on April 1, 2016,
Bloomberg News' Michelle F. Davis, Jodi Xu Klein and Tim Loh
reported, according to an article at Bloomberg Brief, said Bowie
was scrapping a loan sale that would've funded its purchase of the
mines.  A source familiar with the matter told Bloomberg that Bowie
dropped the $650 million financing after getting a cool reception
from investors.  Bowie had put the loan deal on hold in February
and was seeking to renegotiate the terms of the purchase.

Peabody Energy Corp., and a majority of its wholly owned domestic
subsidiaries, as well as one international subsidiary in Gibraltar,
filed on April 13, 2016, voluntary Chapter 11 bankruptcy petitions
(E.D. Mo. Case No. 16-42529) on April 13, 2016.


PEABODY ENERGY: To Trade on Pink Sheets After NYSE Suspension
-------------------------------------------------------------
The New York Stock Exchange on April 13, 2016, suspended trading in
the common stock of Peabody Energy Corporation and notified the
Company that the common stock is no longer suitable for listing
pursuant to Section 8.02.01D of the NYSE continued listing
standards. The NYSE reached this decision in view of the Company's
April 13, 2016 announcement that it and a majority of its
wholly-owned domestic subsidiaries, as well as one international
subsidiary in Gibraltar, have filed voluntary petitions for
reorganization under chapter 11 of Title 11 of the U.S. Code in the
United States Bankruptcy Court for the Eastern District of
Missouri.

The NYSE has informed the Company that it will apply to the U.S.
Securities and Exchange Commission to commence proceedings to
delist the Company's common stock. The Company does not intend to
appeal the NYSE's determination, and therefore it is expected that
the Company's common stock will be delisted from the NYSE.
The Company's common stock is expected to begin trading on the OTC
Pink Sheets marketplace under the symbol BTUUQ on April 14, 2016.

The Company can provide no assurance that its common stock will
commence or continue trading on this market, whether broker-dealers
will continue to agree to provide public quotes of the Company's
common stock on this market, whether the trading volume of the
Company's common stock will be sufficient to provide for an
efficient trading market or whether quotes for the Company's common
stock will continue on this market in the future.


PETROLEUM PRODUCTS: Creditor's Panel Hires Fisher as Counsel
------------------------------------------------------------
Petroleum Products & Services, Inc., d/b/a Wellhead Distributors
International, seeks authorization from the U.S. Bankruptcy Court
for the Southern District of Texas to retain Bennett G. Fisher &
Associates, P.C., d/b/a Fisher & Associates, as counsel to the
Committee, nunc pro tunc to March 4, 2016.

Petroleum Products requires Fisher & Associates to:

   a. advise the Committee with respect to its rights, powers,
      and duties in this case;

   b. assist and advise the Committee in its consultations with
      the Debtor relative to the administration of this case;

   c. assist the Committee in analyzing the claims of the
      Debtor's creditors and in negotiating with such creditors;

   d. assist the Committee's investigation of the acts, conduct,
      assets, liabilities, and financial condition of the Debtor
      and of the operation of Debtor's business;

   e. advise and represent the Committee in connection with
      administrative matters arising in this case, including the
      Debtor's obtaining of credit, the sale of assets, and the
      rejection or assumption of executor contracts and unexpired
      leases;

   f. assist the Committee in its analysis of, and negotiation
      with, the Debtor, or any third party concerning matters
      related to, among other things, the Debtor's disclosure
      statement and chapter 11 plan of reorganization;

   g. assist and advise the Committee with respect to its
      communications with the general creditor body regarding
      significant matters in the Chapter 11 case;

   h. review, analyze and respond as necessary to all
      applications, motions, orders, statements of operations and
      schedules filed with the Court, and advise the Committee as
      to their propriety;

   i. assist the Committee in evaluating, and pursuing if
      necessary, claims and causes of action against the Debtor's
      secured lenders or other parties;

   j. assist and advise the Committee in adversary proceedings
      and non-bankruptcy litigation that involves the Debtor;

   k. assist the Committee in preparing pleadings and
      applications as may be necessary in furtherance of the
      Committee's interests and objectives; and

   l. represent the Committee at all hearings and other
      proceedings, and perform such other legal services as may
      be required and are 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.

As of January 1, 2016, the hourly rates for Fisher & Associates
are:

      Partners                             $365
      Senior Associates                    $240
      Associates                           $150-$190
      Law Clerks                           $100
      Paralegals                           $95

The name, position, and hourly rate for the 2016 calendar year of
Fisher & Associates professionals presently expected to be
primarily responsible for providing services to the Committee are:

      Name               Position                Hourly Rate
  -----------------      --------                -----------
  Bennett G. Fisher      Partner                     $365
  Mathew R. Encino       Associate                   $175
  Candace Russell        Paralegal                   $95

Fisher & Associates will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Bennet G. Fisher, lawyer of Bennett G. Fisher & Associates, P.C.
d/b/a Fisher & Associates 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.

Fisher & Associates can be reached at:

     Benett G. Fisher, Esq.
     Mathew R. Encino, Esq.
     FISHER & ASSOCIATES
     55 Waugh Drive, Suite 603
     Houston, TX 77007
     Tel: (713) 223-8400
     Fax: (713) 609-7766

                      About Petroleum Products

Petroleum Products & Services, Inc.(d/b/a Wellhead Distributors
Int'l and dba WDi) distributes API-6A wellhead equipment and valves
used in the petroleum and natural gas industries.

The Company filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Tex., Case No. 16-31201) on March 4, 2016. Alejandro Kiss signed
the petition as president. The Debtor estimated assets in the range
of $10 million to $50 million and liabilities of at least $10
million.

The Debtor has engaged Hoover Slovacek, LLP as counsel and Hirsch
Westheimer, P.C. as special litigation counsel.


PETROLEUM PRODUCTS: Hires Hoover Slovacek as Bankruptcy Counsel
---------------------------------------------------------------
Petroleum Products & Services, Inc., d/b/a Wellhead Distributors
International, sought and obtained permission from the U.S.
Bankruptcy Court for the Southern District of Texas to retain
Hoover Slovacek, LLP, as bankruptcy counsel, nunc pro tunc to March
4, 2016.

Petroleum Products requires Hoover Slovacek to:

   (a) assist, advise and represent the Debtor relative to the
       administration of the Chapter 11 case;

   (b) assist, advise and represent the Debtor in analyzing the
       Debtor's assets and liabilities, investigating the extent
       and validity of liens and participating in and reviewing
       any proposed asset sales or dispositions;

   (c) attend meetings and negotiate with the representatives of
       the secured creditors;

   (d) assist the Debtor in the preparation, analysis and
       negotiation of any plan of reorganization and disclosure
       statement accompanying any plan of reorganization;

   (e) take all necessary action to protect and preserve the
       interests of the Debtor;

   (f) appear, as appropriate, before the Bankruptcy Court, the
       Appellate Courts, and other Courts in which matters may be
       heard and to protect the interests of Debtor before said
       Courts and the U.S. Trustee; and

   (g) to perform all other necessary legal services in the
       Chapter 11 cases.

Hoover Slovacek will be paid at these hourly rates:

        Edward L. Rothberg              $450
        Annie Catmull                   $350
        Melissa Haselden                $325
        Curtis McCreight                $310
        Deirdre C. Brown                $325
        T. Josh Judd                    $300
        Brendetta A. Scott              $275
        Legal Assistants/Paralegals     $115-$175

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

Edward L. Rothberg, lawyer of Hoover Slovacek, 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.

As disclosed in the B.R. 2016(b) Statements attached to the
Rothberg Affidavit, prior to the filing, Hoover Slovacek was paid
$31,788.50 for pre-petition bankruptcy representation and counsel.

Hoover Slovacek can be reached at:

     Edward L. Rothberg, Esq.
     HOOVER SLOVACEK LLP
     Galleria Tower II
     5051 Westheimer, Ste. 1200
     Houston, TX 77056
     Tel: (713) 977-8686
     Fax: (713) 977-5395

                      About Petroleum Products

Petroleum Products & Services, Inc.(d/b/a Wellhead Distributors
Int'l and dba WDi) distributes API-6A wellhead equipment and valves
used in the petroleum and natural gas industries.

The Company filed a Chapter 11 bankruptcy petition (Bankr. S.D.
Tex., Case No. 16-31201) on March 4, 2016. Alejandro Kiss signed
the petition as president. The Debtor estimated assets in the range
of $10 million to $50 million and liabilities of at least $10
million.

The Debtor has engaged Hoover Slovacek, LLP as counsel and Hirsch
Westheimer, P.C. as special litigation counsel.


PETROMAROC CORP: Enters Into Waiver Agreement with Debtholders
--------------------------------------------------------------
PetroMaroc Corporation plc (PMA), an independent oil and gas
company focused on Morocco (the "Company" or "PetroMaroc"), on
April 11 disclosed that it has entered into a waiver and amending
agreement (the "Waiver Agreement") with all four holders (the
"Debentureholders") of the Company's Cdn $10.7 million principal
amount of debentures (Cdn $9.7 million issued on April 10, 2014,
Cdn $1.0 million issued on November 10, 2015 (the "Debentures"), to
extend the maturity date from April 10, 2016 to September 30, 2016
(the "Maturity Date").

Payment of the quarterly interest payments (the "Deferred Interest
Payments") under the Debentures shall accrue from April 10, 2016,
to the Maturity Date.  Pursuant to the terms of the Waiver
Agreement, and subject to the TSX Venture Exchange ("TSXV")
approval, the aggregate amount of all Deferred Interest Payments
shall accrue interest at the previously amended annual interest
rate of 15% and shall be due and owing on the Maturity Date.  In
consideration for entering into the Waiver Agreement, the Company
has agreed to pay to the Debentureholders a fee (the "Consideration
Fee") equal to 15% of the aggregate amount of their respective
Deferred Interest Payments, which Consideration Fee shall be
payable on the Maturity Date, in cash.  The Waiver Agreement
remains subject to TSXV approval.

                         About PetroMaroc

PetroMaroc -- http://www.petromaroc.co-- is an independent oil and
gas company focused on its significant land position in Morocco.
The Company has a 50 percent operated interest in the Sidi Moktar
license area covering 2,683 square kilometres and is working
closely with Morocco's National Office of Hydrocarbons and Mines
(ONHYM) as a committed long-term partner to unlock the hydrocarbon
potential of the region. Morocco offers a politically stable
environment to work within and has favourable fiscal terms to
energy producers.  PetroMaroc is a public company listed on the TSX
Venture Exchange under the symbol "PMA".


PHARMATHENE INC: Court OKs Reorganization Plan, Exits Chapter 11
----------------------------------------------------------------
PharmAthene, Inc., on April 13 disclosed that the U.S. Bankruptcy
Court for the Southern District of New York approved a
reorganization plan that lays out the terms and conditions under
which SIGA Technologies, Inc. would exit from bankruptcy, effective
April 12, 2016.  The plan was negotiated between SIGA and the
Statutory Creditor's Committee of which PharmAthene is a member.
PharmAthene has received a $5 million initial payment from SIGA.
The payment is creditable against final satisfaction of
PharmAthene's claim of approximately $205 million plus interest and
is not refundable.

Under the plan, PharmAthene's judgment will be satisfied no later
than October 20, 2016 by SIGA in one of the following ways, to be
chosen by SIGA:

   -- Payment in full in cash of the unpaid balance plus interest
that will accrue at 8.75% after Plan approval; or

   -- Delivery to PharmAthene of 100% of SIGA's common stock; or

   -- Such other treatment as may be mutually agreed upon by SIGA
and PharmAthene and approved by the Court

In the event that SIGA pays PharmAthene cash in full and barring
any unexpected material events, PharmAthene currently expects that
it will distribute at least 90% of the after tax net cash proceeds
to its shareholders.  The timing and form of distribution will
depend upon PharmAthene's analysis of its current situation,
applicable corporate statutes related to distributions and the
economic consequences to its shareholders of any such distribution.
In addition to the distribution of these cash proceeds,
PharmAthene intends to seek M&A or other partnering transactions to
maximize the value of its remaining assets and anthrax vaccine
programs.  PharmAthene will work to develop a transition plan for
managing and operating SIGA as a separate business in the event
SIGA decides to satisfy the judgment by delivering 100% of SIGA's
stock to PharmAthene.

                       About PharmAthene

PharmAthene is a biodefense company engaged in the development of
next generation medical countermeasures against biological and
chemical threats.  The Company's development portfolio includes two
next generation Anthrax vaccines that are intended to improve
protection while having favorable dosage and storage requirements
compared other Anthrax vaccines.


POPEXPERT INC: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: PopExpert, Inc.
        1 Beach Street, Suite 300
        San Francisco, CA 94102

Case No.: 16-30390

Chapter 11 Petition Date: April 12, 2016

Court: United States Bankruptcy Court
       Northern District of California (San Francisco)

Judge: Hon. Hannah L. Blumenstiel

Debtor's Counsel: Ori Katz, Esq.
                  SHEPPARD, MULLIN, RICHTER & HAMPTON
                  4 Embarcadero Center 17th Fl.
                  San Francisco, CA 94111
                  Tel: (415) 434-9100
                  E-mail: okatz@sheppardmullin.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ingrid Sanders, chief executive
officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/canb16-30390.pdf


PROGRESSIVE SOLUTIONS: S&P Raises CCR to 'BB' Then Withdraws
------------------------------------------------------------
Standard & Poor's Ratings Services raised its corporate credit
rating on pharmacy benefit manager Progressive Solutions LLC to
'BB' from 'B'.  The outlook is negative.  S&P subsequently withdrew
its ratings on Progressive Solutions.

"The upgrade of the corporate credit rating to 'BB' from 'B'
reflects Progressive Solutions' acquisition by pharmacy benefit
manager Optum Rx, which is a subsidiary of health insurance company
UnitedHealth Group Inc. [A+/Negative/A-1]," said Standard & Poor's
credit analyst James Uko.

Given S&P's view that Progressive is a highly strategically
important subsidiary of UnitedHealth, S&P raised its corporate
credit rating to three notches above its original stand-alone
credit profile to reflect S&P's expectation that UnitedHealth would
not support Progressive Solutions under all circumstances.  The
subsequent withdrawal of the 'BB' corporate credit rating on
Progressive Solutions and the withdrawal of all its issue-level
ratings reflect the completion of UnitedHealth's acquisition of
Progressive Solutions and repayment of all its debt.


QUANTUM FUEL: Sec. 341(a) Meeting of Creditors on April 28
----------------------------------------------------------
The meeting of creditors of Quantum Fuel Systems Technologies
Worldwide, Inc., under 11 U.S.C. Sec. 341(a) is slated for April
28, 2016 at 1:30 p.m. (PT) at Ronald Reagan Federal Building and
U.S. Courthouse, 411 West Fourth Street Room 1-154, in Santa Ana,
California.

The Debtor's representative must attend the meeting to be
questioned under oath by the trustee and creditors.  Creditors may
attend, but are not required to do so.

                         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 drive-trains.  It supplies its tanks and systems to truck and
automotive original equipment manufacturers and aftermarket and OEM
truck integrators worldwide.

Quantum Fuel sought Chapter 11 protection (Bankr. C.D. Cal. Case
No. 16-11202) on March 22, 2016.  The petition was signed by Brian
W. Olson, the CEO.  Judge Mark S Wallace is assigned to the case.

The Debtor listed total assets of $23.1 million and total debt of
$21.7 million.

Foley & Lardner LLP serves as counsel to the Debtor.  Kerr, Russell
and Weber, PLC, is the special corporate counsel.  Garden City
Group Inc. is the claims and noticing agent.


QUANTUM FUEL: U.S. Trustee Forms 7-Member Committee
---------------------------------------------------
The Office of the U.S. Trustee appointed seven creditors of Quantum
Fuel Systems Technologies Worldwide, Inc., to serve on the official
committee of unsecured creditors.

The committee members are:

     (1) Toray Carbon Fibers America, Inc.
         Greg Clemons, CFO
         P.O. Box 248
         Decatur, AL 35602

     (2) West Coast Gasket Co, Inc.
         Louis Russell, President
         300 Ranger Avenue
         Brea, CA 92821

     (3) Dowding Industries, Inc.
         C. Christine Dowding Metts, CEO
         449 Marlin Street
         Eaton Rapids, MI 48827

     (4) Mainstay Fuel Technologies, Inc.
         Rod Grandy, CEO
         100 Hurricane Creek Rd.
         Piedmont, SC 29673

     (5) Duggan Manufacturing
         Tony Pinho, President
         50150 Ryan Road
         Shelby Township, MI, 48317

     (6) Haskell & White LLP
         Rick Smetanka, Partner
         300 Spectrum Center Dr.
         Suite 300
         Irvine, CA 92618

     (7) Mitsubishi Rayon Carbon Fiber & Composites, Inc.
         Donald J. Carter
         5900 88th Street
         Sacramento, CA 95828

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 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.


R & S ST. ROSE: U.S. Trustee Wants Case Converted or Dismissed
--------------------------------------------------------------
Tracy Hope Davis, United States Trustee for Region 17, asks the
U.S. Bankruptcy Court for the District of Nevada to convert R & S
St. Rose Lenders, LLC's Chapter 11 case to a Chapter 7 liquidation
or dismiss the case.

Ms. Davis argues that cause exists to convert the case because the
Debtor has sustained a substantial loss to the estate with no
reasonable likelihood of rehabilitation.  She contends that the
case has been pending for almost five years.  She further contends
that although a disclosure statement was approved by the Court 21
months ago, the accompanying Amended Plan has not been confirmed
despite 22 scheduled status hearings on plan confirmation.

Ms. Davis relates that as of Dec. 31, 2013, the Debtor's monthly
operating report reflected sale proceeds of $12,804,836.  She
further relates that the latest operating report for the month
ending Jan. 31, 2016 reflects a closing bank balance of
$11,989,984.  Ms. Davis avers that the balance reflects a decline
over the last two years in the amount of $814,874.  She further
avers that during this same period of time the Court has awarded
approximately $625,511 in attorneys' fees and costs.

"If, however, the Court determines that conversion is inappropriate
for any reason, the United States Trustee requests in the
alternative that the Court enter an order dismissing the case.
Finally, in the second alternative, the United States Trustee
requests that the Court set specific deadlines, pursuant to Section
105(d)(2)(B), by which the Debtor must (i) confirm a plan of
reorganization as well as (ii) meet future administration
requirements for prosecuting this case, including MORs and
quarterly fees," Ms. Davis contends.

The U.S. Trustee's Motion is scheduled for hearing on May 18, 2016
at 11:00 a.m.

Tracy Hope Davis, United States Trustee for Region 17, is
represented by:

          J. Michal Bloom, Esq.
          OFFICE OF THE UNITED STATES TRUSTEE
          300 Las Vegas Boulevard, So., Suite 4300
          Las Vegas, NV 89101
          Telephone: (702)388-6600, Ext. 229
          Facsimile: (702)388-6658
          E-mail: j.michal.bloom@usdoj.gov

R & S St. Rose Lenders, LLC, is represented by:

          Nedda Ghandi, Esq.
          Laura A. Deeter, Esq.
          GHANDI DEETER BLACKHAM
          707 South 10th Street
          Las Vegas, NV 89101
          Telephone: (702)878-1115
          Facsimile: (702)447-9995
          E-mail: nedda@ghandilaw.com
                  laura@ghandilaw.com

                    About R & S St. Rose Lenders

Las Vegas, Nevada-based R & S St. Rose Lenders, LLC, filed for
Chapter 11 bankruptcy protection (Bankr. D. Nev. Case No. 11-14973)
on April 4, 2011.  

Rose Lenders disclosed $12,041,574 in assets and $24,502,319 in
liabilities in its schedules, as amended.

Affiliate R & S St. Rose, LLC, filed a separate Chapter 11
petition (Bankr. D. Nev. Case No. 11-14974) on April 4, 2011.
According to its schedules, it disclosed $16,821,500 in total
assets and $48,293,866 in total debts.

R & S ST Rose Lenders' bankruptcy case is presently assigned to
Judge Mike K. Nakagawa.

R&S St. Rose Lenders has tapped Nedda Ghandi, Esq., of Ghandi Law
Offices as bankruptcy counsel.  The Debtor previously had Larson &
Larson as counsel but the application was opposed by the U.S.
Trustee, prompting the withdrawal.


RAILYARD COMPANY: Court Directs Appointment of Chapter 11 Trustee
-----------------------------------------------------------------
Judge Robert H. Jacobvitz of the U.S. Bankruptcy Court for the
District of New Mexico directed the United States Trustee to
appoint a Chapter 11 Trustee for debtor Railyard Company, LLC.

Judge Jacobvitz held that there was cause for the appointment of a
Chapter 11 trustee due, in part, to the gross management of the
affairs of the Debtor by current management.

"The Court has carefully considered the totality of circumstances
relevant to whether cause exists to appoint a Chapter 11 trustee in
light of the strong presumption that a debtor should remain a
debtor in possession.  It is clear to the Court that Debtor's
management of the Market Station project is well below industry
standards, that Debtor has grossly mismanaged the project, and that
other factors support appointment of a trustee... Debtor's
management has fallen short with respect its obligations to
Recreational Equipment, Inc. in the administration of the common
area maintenance and real property tax provisions of the Sublease
and its recordkeeping and reporting obligations to Thorofare.
Debtor's management fostered a relationship with its lender, anchor
tenant, former junior anchor tenant, and other tenants
characterized by distrust and acrimony," Judge Jacobvitz held.

                      About Railyard Company

Railyard Company, LLC, owns and developed two-story Market Station
that houses the REI sporting goods store and other tenants.  It
filed a Chapter 11 petition (Bankr. D. N.M. Case No. 15-12386) on
Sept. 4, 2015.  The petition was signed by Richard Jaramillo as
managing member.  The Debtor is represented by William F. Davis,
Esq., at William F. Davis & Associates, P.C., as counsel.

The Debtor's Chapter 11 petition says the Company has about $11.2
million in debts and $13.8 million in assets.


RAILYARD COMPANY: Thorofare Opposes Use of Cash Collateral
----------------------------------------------------------
Railyard Company, LLC, filed with the U.S. Bankruptcy Court for the
District of New Mexico, for authorization to use cash collateral.
The Debtor requires the use of cash collateral to continue the
operation of its business.

The Debtor has assets consisting of a leasehold interest in
property located at 500 Market St. Santa Fe, New Mexico.  The
Debtor collects payments rom the subleasing of its commercial
spaces, the proceeds of which may constitute cash collateral.

Thorofare Asset Based Lending Fund III is a non-insider creditor
holding a lien against cash collateral.  Thorofare holds a mortgage
on the Debtor's leasehold interest in 500 Market St.

The Debtor proposes to pay to Thorofare $15,000 by March 31, 2016
as adequate protection and further proposes to grant Thorofare a
lien as cash collateral on the funds in the Debtor's DIP account.

Thorofare objected to the Debtor's Motion, citing these reasons:

   (1) The Debtor repeatedly has defaulted on every cash collateral
order entered by either paying for unauthorized expenses out of the
ordinary course of business or by failing to pay for necessary
expenses to the determinant of the Property and its tenants;

   (2) The Motion is incredibly untimely;

   (3) The Motion seeks permission to retroactively approve
expenses paid without seeking permission from Thorofore, or more
importantly, from the Court in violation of 11 U.S.C. Section
362(c)(2); and

   (4) The Motion seeks to retroactively approve its operation
without a cash collateral order from February 11, 2016 to date.

Railyard Company is represented by:

          William F. Davis, Esq.
          WILLIAM F. DAVIS & ASSOC., P.C.
          6709 Academy NE, Suite A
          Albuquerque, NM 87109
          Telephone: (505)243-6129
          Facsimile: (505)247-3185
          E-mail: daviswf@nmbankruptcy.com

Thorofare Asset Based Lending Fund III, L.P., is represented by:

          Benjamin E. Thomas, Esq.
          Katharine C. Downey, Esq.
          Jacqueline N. Ortiz, Esq.
          SUTIN, THAYER & BROWNE, APC
          Post Office Box 1945
          Albuquerque, NM 87103-1945
          Telephone: (505)883-2500
          Facsimile: (505)888-6565
          E-mail: bet@sutinfirm.com
                  kcd@sutinfirm.com
                  jno@sutinfirm.com

                      About Railyard Company

Railyard Company, LLC, owns and developed two-story Market Station
that houses the REI sporting goods store and other tenants.  It
filed a Chapter 11 petition (Bankr. D. N.M. Case No. 15-12386) on
Sept. 4, 2015.  The petition was signed by Richard Jaramillo as
managing member.  The Debtor is represented by William F. Davis,
Esq., at William F. Davis & Associates, P.C., as counsel.

The Debtor's Chapter 11 petition says the Company has about $11.2
million in debts and $13.8 million in assets.


RANCH ASSOCIATES: Voluntary Chapter 11 Case Summary
---------------------------------------------------
Debtor: Ranch Associates Oil and Gas Fund, LLC
        PO Box 3
        Medicine Lodge, KS 67104

Case No.: 16-10636

Chapter 11 Petition Date: April 12, 2016

Court: United States Bankruptcy Court
       District of Kansas (Wichita)

Judge: Hon. Robert E. Nugent

Debtor's Counsel: Eric W Lomas, Esq.
                  KLENDA AUSTERMAN LLC
                  1600 Epic Center
                  301 North Main Street
                  Wichita, KS 67202-4816
                  Tel: 316-267-0331
                  Fax: 316-267-0333
                  E-mail: elomas@klendalaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Harry W. Dawson, manager and sole
member.

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


RCS CAPITAL: Cetera Debtors Propose May 2 Confirmation Hearing
--------------------------------------------------------------
Cetera Advisor Networks Insurance Services LLC and its debtor
affiliates ask the U.S. Bankruptcy Court for the District of
Delaware to convene a hearing on May 2, 2016, to consider
confirmation of their Prepackaged Chapter 11 Plan of
Reorganization.

The Cetera Debtors are affiliates of RCS Capital Corporation, et
al., which sought protection under Chapter 11 of the Bankruptcy
Code on March 26, 2016.  The Prepack Plan provides for, among other
things, (i) the holders of Allowed First Lien Claims will receive a
single distribution of their Pro Rata share of 38.75% of the
Reorganized Holdings Equity Interests, and a Pro Rata share of the
New Second Lien Facility and (ii) the holders of Allowed Second
Lien Claims will receive a single distribution of their Pro Rata
share of 38.75% of the Reorganized Holdings Equity Interests, and a
Pro Rata share of Class B Units in the Creditor Trust.

The Cetera Debtors also propose an April 27 deadline to file
objections to Plan confirmation and an April 29 deadline for the
Debtors to file a reply to the Plan confirmation objections.

                        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.


RUSSELL INVESTMENT: S&P Withdraws BB Issuer Credit Rating
---------------------------------------------------------
Standard & Poor's Ratings Services corrected by withdrawing its
ratings on Russell Investment Group due to an error in the
company's name.  Separately, S&P assigned a new rating to Emerald
Acquisition Ltd., which markets itself as Russell Investment Group.
Emerald is a newly created entity that was established after TA
Associates and Reverence Capital Partners announced the acquisition
of the asset management business of Frank Russell Co. from the
London Stock Exchange.

RATINGS LIST

Ratings Withdrawn
                             To            From
Russell Investment Group     
Issuer Credit Rating         NR/--/--      BB/Stable/--


RUSSELL INVESTMENTS: Fitch Assigns 'BB' LT Issuer Default Rating
----------------------------------------------------------------
Fitch Ratings has assigned an expected Long-term Issuer Default
Rating (IDR) and expected senior secured debt rating of 'BB(EXP)'
to Russell Investments US Institutional Holdco, Inc. and Russell
Investments US Retail Holdco, Inc. Fitch has also assigned an
expected long-term IDR of 'BB(EXP)' to Emerald Acquisition Limited,
the holding company for the combined organization (collectively
referred to as Russell Investments). The Rating Outlook is Stable.


The expected ratings would convert to actual ratings upon the
finalization of the separation of Russell Investments from the
London Stock Exchange Group (LSEG) and the execution of the secured
funding facilities, provided that both are undertaken in a manner
consistent with Fitch's expectations, as outlined herein. In
particular, Fitch's analysis assumes that although the subsidiaries
conducting international operations are not direct borrowers or
guarantors, creditors would indirectly benefit from the cash-flows
of these entities via the holding company guarantee from Emerald
Acquisition Limited.

KEY RATING DRIVERS - IDRS AND SENIOR SECURED DEBT

The expected ratings reflect the company's strong franchise, asset
under management (AUM) diversification across geographies and
product sets, scalable business model and demonstrated track record
of delivering strong fund performance relative to benchmarks.
Additional strengths include the company's experienced management
team and a well-articulated and reasonably achievable long-term
operating strategy including maximum leverage and minimum liquidity
targets.

Primary rating constraints include higher initial leverage as
measured by Fitch-calculated Debt/EBITDA, lower initial interest
coverage as measured by Fitch-calculated EBITDA/interest expenses,
lower margins as measured by Fitch-calculated gross EBITDA margins
and the company's fully-secured wholesale funding profile. Other
rating constraints include the sensitivity of the investment
management business model to external markets, lack of operating
history as a stand-alone entity and Russell Investments' expected
private equity ownership by TA Associates and Reverence Capital
Partners.

Private equity ownership introduces the potential risk of more
equity-oriented actions, particularly if the related fund(s) are
approaching the end of their stated fund lives. In addition, the
announced purchase price of the acquisition includes $150 million
of installment payments due to LSEG from Russell Investments
between 2017 and 2020. Fitch recognizes that Russell Investments'
private equity sponsors have committed their funds to backstop
these installment payments, however, were the funds to be unable to
meet these obligations, this would further constrain Russell
Investments' financial flexibility. These concerns are partially
mitigated by the track record of Russell Investments' private
equity owners in the investment management and financial services
sectors.

As of Dec. 31, 2015, Russell Investments had $241.8 billion of AUM,
spread across single- and multi-asset products offered to retail
and institutional investors in the U.S., EMEA, APAC and Canada. The
company primarily derives revenues from traditional investment
management activities, but also provides investment services
(exposure management, transitions, etc.) and consulting services,
which are moderate diversifiers of revenue. From a profitability
perspective, Fitch-calculated gross EBITDA margins are expected to
initially be in the 15% range, which is weaker than more highly
rated peers. Depending on the extent to which Russell Investments
is able to improve cost efficiencies and achieve scale efficiencies
through AUM expansion, EBITDA margins could improve.

Upon closing of the transaction, Russell Investments is expected to
incur $650 million of senior secured debt while obtaining an
undrawn $50 million revolving credit facility for liquidity
purposes. On this basis, Fitch-calculated gross debt to EBITDA is
expected to be 3.9x excluding the $150 million of installment
payments or 4.8x including the $150 million of installment
payments. These levels are consistent with Fitch's quantitative
benchmark for 'BB' category of greater than 3.0x. In both
instances, Fitch's calculations do not give credit to performance
fees, which have been a modest contributor to earnings in the past
but can be more variable. Management has indicated a long-term
leverage target (on a net debt basis) of less than 2.0x. Were
progress to be made on this, it could contribute to positive rating
momentum.

The exact level of EBITDA coverage of interest expenses is subject
to finalizing the interest expenses on the senior secured debt, but
Fitch expects it to be in line with the agency's quantitative
benchmark for the 'BB' category of less than 6.0x.

From a liquidity perspective, Russell Investments is expected
maintain approximately $20 million in cash, along with $50 million
of revolver capacity. This level of liquidity is viewed as weaker
than more highly rated peers, although Fitch does recognize the
cash flow generative nature of the business model.

The expected rating of the senior secured debt is equalized with
the expected long-term IDR reflecting Fitch's belief that the debt
would have average recovery prospects in the event of default.

The Stable Rating Outlook reflects Fitch's expectation that Russell
Investments' franchise, diversified platform and strong cash flow
generation should provide it with the ability to begin to reduce
elevated leverage and manage execution risk associated with the
ownership transition.

RATING SENSITIVITIES - IDRS and SENIOR SECURED DEBT

Fitch believes positive rating momentum is possible over the longer
term, provided the company successfully executes on its
deleveraging, cost improvement and margin expansion plans.
Specifically, ratings could be positively influenced by
Fitch-calculated Debt/EBITDA approaching or below 3.0x,
Fitch-calculated gross EBITDA margins approaching or above 20%,
Fitch-calculated EBITDA/interest approaching or above 6.0x and
favorable investment performance and asset flows. Additional
positive influences include successful execution of strategic
objectives, an improvement in diversity of funding so as to include
a meaningful amount of unsecured debt and successful execution of
the transition to a stand-alone business.

Ratings could be negatively influenced by a sustained increase in
Fitch-calculated cash flow leverage beyond 5.0x, a decrease in
Fitch-calculated EBITDA margins to below 10%, a decrease in
Fitch-calculated EBITDA/interest expenses below 3.0x, or sustained
material investment underperformance or AUM outflows. Failure to
execute on articulated strategic objectives would also be viewed
negatively.

The senior secured debt rating would be primarily sensitive to
changes in the long-term IDR of Russell Investments, and to a
lesser extent the recovery prospects of the instrument.

Fitch has assigned the following expected ratings:

Russell Investments US Institutional Holdco, Inc. (co-borrower)
Russell Investments US Retail Holdco, Inc. (co-borrower)
-- Long-term IDR 'BB(EXP)';
-- Senior secured debt 'BB(EXP)'.

Emerald Acquisition Limited (guarantor)
-- Long-term IDR 'BB(EXP)'.

The Outlook is Stable.


RYCKMAN CREEK: Proposes July 7 Plan Confirmation Hearing
--------------------------------------------------------
Ryckman Creek Resources, LLC, et al., filed with the U.S.
Bankruptcy Court for the District of Delaware a Joint Chapter 11
Plan of Reorganization and accompanying Disclosure Statement, which
propose that, following consummation of the Plan, the Debtors'
balance sheet will be deleveraged by more than $[249] million.

At emergence, the Debtors anticipate that they will have liquidity
of approximately $[9.5] million due to a combination of Cash on
hand and availability under the Exit Facility of up to $35 million.
On the Effective Date, the DIP Facility will be converted into,
and the Reorganized Debtors, as borrowers, will enter into, the
Exit Facility, the final form and substance of which will be
acceptable to the Reorganized Debtors.

The Disclosure Statement is mum as to the estimated recovery to
holders of general unsecured claims.  

The Debtors propose for the Confirmation Hearing to commence on
July 7, 2016, at 10:00 a.m. (Eastern time).  The Plan Objection
Deadline is June 23.

A full-text copy of the Disclosure Statement dated April 11, 2016,
is available at http://bankrupt.com/misc/RYCKMANds0411.pdf

The Debtors are represented by George N. Panagakis, Esq., Jessica
S. Kumar, Esq., Justin M. Winerman, Esq., and Tabitha J. Atkin,
Esq., at Skadden, Arps, Slate, Meagher & Flom LLP, in Chicago,
Illinois, and Sarah E. Pierce, Esq., and Alison L. Mygas, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, in Wilmington, Delaware.

                           About Ryckman

Formed on Sept. 8, 2009, Ryckman Creek Resources, LLC is engaged
in
the acquisition, development, marketing, and operation of a
Natural
gas storage facility known as the Ryckman Creek Facility.  The
Ryckman Creek Facility is a depleted crude oil and natural gas
reservoir located in Uinta County, Wyoming.  The Company began
development of the reservoir into a natural gas storage facility
in
2011.  The Ryckman Creek Facility began commercial operations in
late 2012 and received injections of customer gas and gas
purchased
by the Company.  The Debtors have approximately 35 employees.

Ryckman Creek Resources, LLC, Ryckman Creek Resources Holdings
LLC,
Peregrine Rocky Mountains LLC and Peregrine Midstream Partners LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Case Nos.
16-10292 to 16-10295) on Feb. 2, 2016.  The petitions were signed
by Robert Foss as chief executive officer.  Kevin J. Carey has
been
assigned the case.

The Debtors have engaged Skadden, Arps, Slate, Meagher & Flom LLP
as counsel, AP Services, LLC as management provider, Evercore
Group
LLC as investment banker, and Kurtzman Carson Consultants LLC as
claims and noticing agent.

The Debtors estimated both assets and liabilities in the range of
$100 million to $500 million.  As of the Petition Date, Ryckman
Had
approximately $333 million of prepetition bank debt.


S-3 PUMP: Wants to Secure Indebtedness to Fund Fuel Purchases
-------------------------------------------------------------
S-3 Pump Service, Inc., sought and obtained from Judge Jeffrey P.
Norman of the U.S. Bankruptcy Court for the Western District of
Louisiana, Shreveport Division, authorization to incur secured
indebtedness from Fleetcor Technologies Operating Company, LLC, to
fund fuel purchases.

The Debtor relates that due to the far-flung territory over which
Debtor performs its services and the size of its periodic fuel
purchases, the Debtor historically financed its fuel purchases in
the ordinary course of its business through a longstanding
financing arrangement with Fleetcor, under which Fleetcor arranged
for the issuance to the Debtor of multiple MasterCard fuel credit
cards, which were utilized by Debtor's crews and drivers for fuel
purchases.  The Debtor further relates that historically, it fully
paid all charges under the Fuel Cards within 30 days.

The Debtor believes that similar fuel financing arrangements with
companies like Fleetcor on similar financing terms are customary
for other, similarly situated, oilfield service providers in the
oil and natural gas industry.

The Debtor avers that it is desirous of maintaining its existing
fuel financing arrangement with Fleetcor in Debtor's postpetition
business operations.  

Fleetcor has required that the Debtor execute a new credit
application, on substantially similar terms to the pre-petition
financing terms, and additionally post a security deposit in
certified funds with Fleetcor as conditions to Fleetcor's
willingness to finance fuel purchases for Debtor on a post-petition
basis.

Specifically, Fleetcor is offering to deliver Fuel Cards to the
Debtor for fuel purchases on the following terms:

     (a) Service fee of not more than 2% of charges;

     (b) Interest rate: None;

     (c) Maturity: Debtor will pay all fuel purchase charges within
14 days following each 30 day billing cycle; and

     (d) Events of default: Failure to pay the charges within 30
days, thereby entitling Fleetcor to exercise rights against the
Debtor's Security Deposit.

Fleetcor is requiring that Debtor deliver to Fleetcor a security
deposit in certified funds of not less than the amount to be
financed by Fleetcor, as a condition to Fleetcor's agreeing to this
proposed financing arrangement.

The Debtor anticipates that its monthly fuel purchases will total
approximately $20,000 per month.  The Debtor proposes to post with
Fleetcor a Security Deposit in the amount of $30,000.

The Debtor contends that an immediate need exists for the Debtor to
obtain funds in order to purchase gasoline and diesel fuel to
continue its business operations.  Absent such financing, the
Debtor has no means to purchase fuel, except by coordinating the
weekly hand delivery of thousands of dollars of cash to its various
drivers at locations hundreds of miles away from the Debtor's
business office in Shreveport.  If it cannot promptly purchase the
necessary fuel to move its crews and equipment to new jobsites, the
Debtor will be unable to generate the revenues needed to continue
its business operations, and Debtor's business reputation among its
customers will face irreparable damage.

S-3 Pump Service, Inc., is represented by:

          Robert W. Johnson, Esq.
          BLANCHARD, WALKER, O'QUIN & ROBERTS
          P.O. Box 1126
          333 Texas Street
          Shreveport, LA
          Telephone: (318)221-6858
          Facsimile: (318)227-2967
          E-mail: rjohnson@bwor.com

                      About S-3 Pump Service

S-3 Pump Service, Inc., provider of high pressure pumping service,
filed a Chapter 11 bankruptcy petition (Bankr. W.D. La. Case No.
16-10383) on March 4, 2016.  The petition was signed by Malcolm H.
Sneed, III, the president.  The Debtor estimated assets and debt in
the range of $10 million to $50 million.  Blanchard, Walker, O'Quin
& Roberts serves as the Debtor's counsel.  Judge Jeffrey P. Norman
is assigned to the case.


SALESFORCE.COM INC: Egan-Jones Hikes FC Sr. Unsecured Rating to B
-----------------------------------------------------------------
Egan-Jones Ratings Company raised foreign currency senior unsecured
rating on debt issued by salesforce.com Inc. to B from B- on March
24, 2016.

Salesforce.com is an American cloud computing company headquartered
in San Francisco, California.



SARATOGA RESOURCES: Files 363 Sale Motion, May 5 Hearing Set
------------------------------------------------------------
Saratoga Resources, Inc. on April 12 disclosed that it has filed a
motion, under Section 363 of the Bankruptcy Code, to conduct a sale
of all or substantially all of its assets, excluding the Company's
federal leases and certain other assets that may be excluded by
agreement between the Company and its first lien lender.  Saratoga
also filed a separate motion to establish bid procedures relating
to the proposed sale which the Bankruptcy Court for the Western
District of Louisiana, Lafayette Division approved at a hearing
held on April 7, 2016.

The 363 Motion is set for hearing on May 5, 2016 at 10:00 a.m. CST,
subject to continuance, before the Bankruptcy Court.  Copies of the
363 Motion and the associated bid procedures are on file and
available for review at the office of the Clerk of Court, United
States Bankruptcy Court, Western District of Louisiana –
Lafayette Division, 214 Jefferson Street, Suite 100, Lafayette,
Louisiana 70501, or may be obtained via the Court's website at
www.lawb.uscourts.gov or upon written request to counsel for
Saratoga, Heller, Draper, Patrick, Horn & Dabney, LLC, Attn: Cherie
Nobles, 650 Poydras Street, Suite 2500, New Orleans, Louisiana
70130 or cnobles@hellerdraper.com

                    About Saratoga Resources

Saratoga Resources -- http://www.saratogaresources.com/-- is an
independent exploration and production company with offices in
Houston, Texas and Covington, Louisiana.  Principal holdings cover
approximately 51,500 gross/net acres, mostly held by production,
located in the transitional coastline and protected in-bay
environment on parish and state leases of south Louisiana and in
the shallow Gulf of Mexico Shelf.  Most of the company's large
drilling inventory has multiple pay objectives that range from as
shallow as 1,000 feet to the ultra-deep prospects below 20,000 feet
in water depths ranging from less than 10 feet to a maximum of
approximately 80 feet.

Saratoga Resources, Inc., Harvest Oil & Gas, LLC, and their
affiliated debtors sought protection under Chapter 11 of the
Bankruptcy Code on June 18, 2015.  The lead case is In re Harvest
Oil & Gas, LLC, Case No. 15-50748 (Bankr. W.D. La.).

The Debtors are represented by William H. Patrick, III, Esq., at
Heller, Draper, Patrick, Horn & Dabney, LLC, in New Orleans,
Louisiana.


SBMC HEALTHCARE: Malpractice Suit vs. JDKG Remanded to Bankr. Court
-------------------------------------------------------------------
Millard A. Johnson, individually, and Johnson DeLuca Kurisky &
Gould, P.C., appeal two orders of the Bankruptcy Court entered in
Adversary No. 14-03126:

   -- The September 18, 2014, Order: (1) Granting in Part and
Denying in Part the Defendants' Motion to Dismiss; (2) Denying the
Trust's Motion to Intervene in Its Entirety; (3) Granting in Part
and Denying in Part the Plaintiffs' Motion for Remand (order of
Partial Dismissal and Remand, Adversary Docket Entry No. 46); and

   -- the April 22, 2015, Order Denying Defendants' Motion to Amend
or for Clarification of Judgment of Partial Dismissal and Remand
Order.

This case arises out of the Chapter 11 bankruptcy of SBMC
Healthcare LLC, d/b/a Spring Branch Medical Center.  Marty McVey
was SBMC's president and 100% equity owner.  On April 5, 2012,
Harborcove Financial, LLC, filed suit against SBMC and against
McVey individually in the Both Judicial District Court of Harris
County, Texas, Cause Number 2012-20333, to collect on a loan
obligation that SBMC had pledged and McVey had personally
guaranteed.  Harborcove sought to foreclose on its lien against
SBMC's assets and to set a foreclosure sale for those assets on May
1, 2012.  On April 27, 2012, Mr. Johnson and his law firm filed a
prepetition answer in the Harborcove lawsuit on behalf of McVey. On
the same date, i.e., April 27, 2012, SBMC entered into a written
agreement with Harborcove pursuant to which SBMC would receive
another 120 days to find a buyer if SBMC paid $1,525,000 of its
outstanding debt to Harborcove by April 30, 2012.

On March 10, 2014, McVey and McVey & Co. Investments, LLC, filed
suit against Mr. Johnson and his firm in the 270th District Court
of Harris County, Texas, asserting claims for legal malpractice,
breach of fiduciary duty, and violations of the Texas Deceptive
Trade Practices Act. Asserting that SBMC was sold for an amount
that was not sufficient to cover all of its debts, McVey alleged
that Mr. Johnson and his law firm's advice that SBMC file for
bankruptcy caused them to suffer personal injury when creditors of
SBMC sued them in their individual capacities as guarantors of
SBMC's debts.

In a Memorandum Opinion and Order dated March 21, 2016, which is
available at http://is.gd/kCeYV4from Leagle.com, Judge Sim Lake of
the United States District Court for the Southern District of
Texas, Houston Division, reversed the Bankruptcy Court's April 22,
2015 order denying the Defendants' Motion to Amend or Clarify and
denied the Appellants' Motion to Dismiss Putative Cross-Appeal as
moot, and remanded the action to the Bankruptcy Court for further
consideration.

The civil case is MILLARD A. JOHNSON, Individually, and JOHNSON,
DeLUCA KURISKY & GOULD, P.C., Appellants, v. MARTY McVEY,
Individually, and McVEY & CO. INVESTMENTS, LLC, Appellees, Civil
Action No. 15-1173 (S.D. Tex.).

The adversary case is MARTY McVEY, Individually, and McVEY & CO.
INVESTMENTS, LLC, Plaintiffs, v. MILLARD A. JOHNSON, Individually,
and JOHNSON, DeLUCA KURISKY & GOULD, P.C., Defendants, Adversary
No. 14-03126 (Bankr. S.D. Tex.).

The bankruptcy case is IN RE: SBMC HEALTHCARE, LLC, Debtor,
Bankruptcy No. 12-33299-H4-11 (Bankr. S.D. Tex.).

SBMC Healthcare, LLC, is represented by Marilee A Madan, Esq. --
Marilee A Madan PC.

SBMC Healthcare, LLC, In Re, is represented by Millard A Johnson,
Esq. -- mjohnson@jdkglaw.com -- Johnson DeLuca Kurisky & Gould,
P.C. & Sara Mya Keith, Esq. -- skeith@jdkglaw.com -- Johnson DeLuca
Kurisky & Gould PC.

Millard A Johnson, Appellant, is represented by Thomas M Fulkerson,
Esq. -- tfulkerson@fulkersonlotz.com -- Fulkerson Lotz LLP.

Johnson DeLuca Kurisky & Gould, PC, Appellant, is represented by
Thomas M Fulkerson, Fulkerson Lotz LLP.

Marty McVey, Appellee, is represented by Lance Christopher Kassab,
Esq., Attorney at Law & David Eric Kassab,Esq. -- The Kassab Law
Firm.

McVey & Co, Invetments, LLC, Appellee, is represented by Lance
Christopher Kassab, Attorney at Law & David Eric Kassab, The Kassab
Law Firm.

               About SBMC Healthcare

Houston, Texas-based SBMC Healthcare, LLC, is 100% owned by McVey
&
Co. Investments LLC.  It filed a Chapter 11 petition (Bankr. S.D.
Tex. Case No. 12-33299) on April 30, 2012.  Judge Jeff Bohm
presides over the case.

The petition was signed by the president of McVey & Co.
Investments
LLC, sole manager.  

The Debtor disclosed $40,149,593 in assets and $13,108,268 in
liabilities as of the Chapter 11 filing.  

Marilee A. Madan, P.C. in Houston, Texas, was the Debtor's general
bankruptcy counsel.  Millard A. Johnson, Esq., and Sara Mya Keith,
Esq., at Johnson DeLuca, Kurisky & Gould, P.C., in Houston, served
as the Debtor's special bankruptcy counsel.  

The Official Committee of Unsecured Creditors was represented by
Hall Attorneys, P.C.  The Committee retained BMC Group, Inc., to
assist with the compilation, administration, evaluation, and
production of documents and information necessary to support the
Committee's duties.

On March 26, 2013, the Court confirmed the First Amended Plan of
Liquidation by the Official Committee of Unsecured Creditors and
Joint Plan of Liquidation of the Committee and SBMC Healthcare,
LLC.  On April 4, 2013, the Court entered an order confirming the
Joint Plan.

April 10, 2013, was the Effective Date and all of the assets and
rights of the SBMC Healthcare, LLC, the Debtor, including
litigation claims, were transferred to the SBMC Liquidating Trust
and vested pursuant to the Joint Plan and Confirmation Order.


SCIO DIAMOND: Reports Full Production Restoration
-------------------------------------------------
Scio Diamond Technology Corp. disclosed in a press release that it
has returned to full production following its December shutdown.

"We are pleased to report that our Greenville, SC factory has
returned to full growing capacity following the December water line
break.  All growers have been repaired and are back in production,"
announced Gerald McGuire, president and CEO, Scio Diamond.  "Our
team, equipment suppliers and insurance company have worked
seamlessly and tirelessly together to bring us back to full
production in a remarkable amount of time.  We are very
appreciative of their efforts."

As described in the Company's fiscal third quarter 10-Q and 3rd
quarter news release, the Company experienced a water line break in
its facility on Dec. 12, 2015, causing damage to its diamond
growers and a significant interruption in production . The factory
was partially operating again within a number of days, and is now
restored to full capacity.  The Company expects to show significant
increases in output in March and April as the diamonds from the
restored growers complete their growth cycle.

The Company continues to work closely with its property loss and
business interruption insurance policy carrier to account for
losses due to the shutdown.

"Property losses and business interruptions are events no business
ever wants to endure so when they do happen, it is greatly
appreciated when you have an insurance company that can mobilize to
help quickly," said Jonathan Pfohl, CFO, Scio Diamond.  "Our
insurance provider was motivated to see us back up and running as
quickly as possible and we are pleased to see how helpful they have
been in our return to production."

                        About Scio Diamond

Scio Diamond Technology Corporation was incorporated under the laws
of the State of Nevada as Krossbow Holding Corp. on Sept. 17, 2009.
The Company's focus is on man-made diamond technology development
and commercialization.

Scio Diamond reported a net loss of $1.26 million on $125,677 of
revenue for the three months ended Dec. 31, 2015, compared to a net
loss of $1.31 million on $109,358 of revenue for the same period in
2014.  For the nine months ended Dec. 31, 2015, the Company
reported a net loss of $2.94 million on $534,144 of revenue
compared to a net loss of $3.07 million on $667,672 of revenue for
the nine months ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $10.71 million in total
assets, $3.62 million in total liabilities and $7.08 million in
total shareholders' equity.


SDI SOLUTIONS: Hires DLA Piper as Bankruptcy Counsel
----------------------------------------------------
SDI Solutions LLC, et al., seek authority from the U.S. Bankruptcy
Court for the District of Delaware to employ DLA Piper LLP (US) as
their bankruptcy counsel, nunc pro tunc to March 13, 2016.

SDI Solutions requires DLA Piper to:

   a. advise the Debtors with respect to their powers and duties
      as debtors and debtors in possession in the continued
      management of their properties and operation of their
      businesses;

   b. attend meetings and negotiating with representatives of
      creditors and other parties in interest, and advising and
      consulting on the conduct of the cases, including all of
      the legal and administrative requirements of operating in
      chapter 11;

   c. take all necessary action to protect and preserve the
      Debtors' estates, including the prosecution of actions on
      their behalf, the defense of any actions commenced against
      those estates, negotiations concerning litigation in which
      the Debtors may be involved, and objections to claims filed
      against the estates;

   d. prepare on the Debtors' behalf motions, applications,
      answers, orders, reports, and papers necessary to the
      administration of the estates;

   e. prepare and negotiate on the Debtors' behalf chapter 11
      plans, related disclosure statements, and all related
      agreements and documents, and taking any necessary action
      on behalf of the Debtors to obtain confirmation of such
      plans;

   f. advise the Debtors in connection with any sale of assets or
      other transactions;

   g. perform other necessary legal services and provide other
      necessary legal advice to the Debtors in connection with
      the Chapter 11 cases; and

   h. appear before this Court, any appellate court, and the U.S.
      Trustee, and protecting the interests of the Debtors'
      estates before such courts and the U.S. Trustee.

DLA Piper will be paid on rates as provided in the Califano
Declaration.

To the best of the Debtors' knowledge 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.

DLA Piper can be reached at:

     Thomas R. Califano, Esq.
     DLA Piper LLP (US)
     1251 Avenue of the Americas
     New York, NY 10020
     Tel: (212) 335-4500
     Fax: (212) 335-4501
     E-mail: thomas.califano@dlapiper.com

                     About SDI Solutions

SDI Solutions LLC and SDI Opco Holdings, LLC sought protection
under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Delaware (Delaware) (Bankr. D. Del., Case
Nos. 16-10627 and 16-10628) on March 13, 2016. The petition was
signed by David Sullivan, chief executive officer.

The cases are jointly administered under Case No. 16-10627.

The Debtors are represented by Stuart M. Brown, Esq., Kaitlin
MacKenzie Edelman, Esq., and Thomas R. Califano, Esq., at DLA Piper
LLP (US). The Debtors tapped Gulf Atlantic Capital Corp. as their
financial advisor and Donlin, Recano & Company Inc. as their claims
and noticing agent.

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


SH 130 CONCESSION: Final Cash Collateral Use Order Entered
----------------------------------------------------------
Judge Tony M. Davis on April 7, 2016 entered a final order
authorizing SH 130 Concession Company, LLC, to use cash collateral.


As of the Petition Date, SH130 was indebted and liable to the first
lien lenders in the principal amount of at least $720,749,970
pursuant to a Senior Bank Facility Agreement dated as of March 7,
2008 with BNP Paribas, as administrative agent, Banco Santander,
S.A., New York Branch, as "fronting bank".

As of the Petition Date, SH130 was indebted and liable to the
United States Department of Transportation, acting by and through
the Federal Highway Administration ("TIFIA") in the principal
amount of at least $550,875,000, plus interest accrued, and costs
and any fees and expenses due and owing under the TIFIA Loan
Agreement, dated as of March 7, 2008.

The Pre-Petition Secured Parties have consented to (or not opposed)
the Debtors' use of cash collateral in accordance with the Approved
Budget.

Subject only to the "carve-out", the Debtors' right to use Cash
Collateral under the terms of the Final Cash Collateral Order will
terminate automatically upon the earliest of the following to
occur: (i) 165 days after the date of entry of the Final Order;
(ii) the date of consummation of an Acceptable Plan; and (iii) an
event of default.  The Debtors' failure to timely achieve any of
the following milestones will constitute an event of default:

   (1) the agreement on the terms of a restructuring in the form of
an agreed upon term sheet, which terms will be acceptable to the
Required Senior Lenders within 45 days of the entry of the Final
Cash Collateral Order;

   (2) The filing of a plan of reorganization implementing the
terms of the Restructuring Term Sheet and disclosure statement with
respect to the Plan with the Court within 30 days of the mutual
acceptance of the Restructuring Term Sheet;

   (3) The entry by the Court of an order approving the Disclosure
Statement within 45 days of the date on which the Plan and
Disclosure Statement are filed with this Court; and

   (4) The entry by the Court of an order confirming the Plan
within 90 days of the date on which the Plan and Disclosure
Statement are filed with the Court.

A copy of the Final Cash Collateral Order is available for free
at:

     http://bankrupt.com/misc/SH_130_136_Fin_Cash_Ord.pdf

                      About SH 130 Concession

Headquartered in Buda, Texas, SH 130 Concession Company, LLC (the
"Concessionaire") was formed to finance, develop, design,
construct, operate, and maintain segments five and six of Texas
State Highway 130 (the "Tollway") in partnership with the Texas
Department of Transportation.

The Concessionaire, Zachry Toll Road - 56 LP and Cintra TX 56 LLC
filed Chapter 11 bankruptcy petitions (Bankr. W.D. Tex. Case Nos.
16-10262, 16-10263 and 16-10264, respectively) on March 2, 2016.
The petitions were signed by Alfonso Orol as chief executive
officer.  The Debtors estimated both assets and debts in the range
of $1 billion to $10 billion.

Toll Road - 56 and TX 56 are holding companies that collectively
hold the equity interests in the Concessionaire.  They have no
operations and have no creditors.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Jackson Walker L.L.P. as local counsel, and Prime Clerk
LLC as notice, claims, solicitation, balloting and tabulation
agent.

Judge Tony M. Davis has been assigned the case.


SIGA TECHNOLOGIES: Exits Chapter 11 Bankruptcy Protection
---------------------------------------------------------
SIGA Technologies, Inc., a company specializing in the
commercialization of solutions for serious unmet medical needs and
biothreats, on April 12 disclosed that the United States Bankruptcy
Court for the Southern District of New York has entered an order
confirming the Debtor's Third Amended Chapter 11 Plan, dated April
7, 2016, and, as a result, SIGA has successfully emerged from
chapter 11.  A copy of the Plan, as confirmed by the Bankruptcy
Court, can be found at:

                https://cases.primeclerk.com/siga/

"We are pleased the Bankruptcy Court has confirmed the Plan and
that we have successfully emerged from chapter 11.  We look forward
to satisfying the judgment resulting from the litigation with
PharmAthene, Inc., focusing on growing our business and supplying
the U.S. Government and other jurisdictions with important
bio-threat protection," said Eric Rose, Chairman and CEO, SIGA
Technologies, Inc.

                     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.


SPORTS AUTHORITY: Hires Irell & Manella as Special Counsel
----------------------------------------------------------
Sports Authority Holdings, et al. seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Irell &
Manella LLP as special counsel, nunc pro tunc to March 4, 2016, to
represent them in connection with the DIP Credit Agreement and any
further issues that might arise in which the Court or the parties
believe that the Applicant Debtors should be represented by
separate counsel.

In connection with these services, Irell anticipates preparing, on
behalf of the Applicant Debtors, any necessary legal papers;
appearing in Court and protecting the interests of the Applicant
Debtors before the Court; and performing all other legal services
for the Applicant Debtors that may be necessary and proper in these
proceedings for the purposes of this engagement.

Irell & Manella will be paid at these hourly rates:

       Jeffrey M. Reisner           $1,135
       Michael H. Strub, Jr.        $895
       Kerri Lyman                  $870

Irell & Manella will also be reimbursed for reasonable
out-of-pocket expenses incurred.

Jeffrey M. Reisner, partner of Irell & Manella, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

The Bankruptcy Court will hold a hearing on the motion on April 26,
2016, at 11:30 a.m.  Objections were due April 6, 2016.

Irell & Manella can be reached at:

       Jeffrey M. Reisner, Esq.
       Michael H. Strub, Jr., Esq.
       IRELL & MANELLA LLP
       840 Newport Beach Blvd.
       Newport Beach, CA 92660
       Tel: (949) 760-0991
       Fax: (949) 760-5200
       E-mail: jreisner@irell.com
               mstrub@irell.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.



SPX CORP: Egan-Jones Lowers Sr. Unsecured Rating to BB+
-------------------------------------------------------
Egan-Jones Ratings Company downgraded senior unsecured rating on
debt issued by SPX Corp. to BB+ from BBB- on March 28, 2016.

SPX Corporation is a diversified, global supplier of infrastructure
equipment with scalable growth platforms in heating, ventilation
and air conditioning, and detection and measurement markets, and a
strong presence in power and energy markets.



STONE ENERGY: Putnam Investments Reports 1% Stake as of March 31
----------------------------------------------------------------
In an amended Schedule 13G filed with the Securities and Exchange
Commission, Putnam Investments, LLC d/b/a/ Putnam Investments
reported that as of March 31, 2016, it beneficially owns 548,048
shares of common stock of Stone Energy Corp. representing 1 percent
of the shares outstanding.  Putnam Investment Management also
disclosed beneficial ownership of 530,183 shares as of that date.
A copy of the regulatory filing is available at no charge at
http://is.gd/vtsux3

                       About Stone Energy

Stone Energy is an independent oil and natural gas company engaged
in the acquisition, exploration, exploitation, development and
operation of oil and gas properties.  The Company has been
operating in the Gulf of Mexico Basin since its incorporation in
1993 and have established a technical and operational expertise in
this area.  The Company has leveraged its experience in the GOM
conventional shelf and expanded its reserve base into the more
prolific basins of the GOM deep water, Gulf Coast deep gas and the
Marcellus and Utica shales in Appalachia.  As of Dec. 31, 2015, the
Company's estimated proved oil and natural gas reserves were
approximately 57 MMBoe or 342 Bcfe.  During 2015, approximately 95
MMBoe or 570 Bcfe of the Company's estimated proved reserves were
revised downward as a result of lower oil, natural gas and natural
gas liquids prices.

Stone Energy reported a net loss of $1.1 billion in 2015 following
a net loss of $189.54 million in 2014.  As of Dec. 31, 2015, the
Company had $1.41 billion in total assets, $1.44 billion in total
liabilities, and a $39.8 million total stockholders' deficit.

                         *   *    *

As reported by the TCR on March 15, 2016, Standard & Poor's Ratings
Services lowered its corporate credit rating on U.S.-based oil and
gas exploration and production company Stone Energy Corp. to 'CCC-'
from 'CCC+'.

Stone Energy Corporation carries a B3 Corporate Family Rating from
Moody's Investors Service.


TECK RESOURCE: Egan-Jones Assigns BB- FC Sr. Unsec. Debt Rating
---------------------------------------------------------------
Egan-Jones Ratings Company assigned a BB- foreign currency senior
unsecured rating to debt issued by Teck Resource Ltd. on March 24,
2016.  EJR also lowered its local currency senior unsecured rating
on debt issued by the Company to BB- from BB.

Teck Resources Limited, known as Teck Cominco until late 2008, is a
Canadian metals and mining company.



TEXAS REGENCY: Seeks Approval of $10.6-Mil. Regency Square Sale
---------------------------------------------------------------
Texas Regency Apartments, L.P., asks the U.S. Bankruptcy Court for
the Southern District of Texas, to authorize the sale of Regency
Square, free and clear of all liens, claims and encumbrances to HB
Apartments, LLC, and to transfer all liens, claims and encumbrances
to the proceeds of the sale.

Regency Square is a 313-unit multi-family residential apartment
complex located at 7222 Bellerive Drive, Houston, Texas.  It is the
sole real estate asset of the Debtor.

The Debtor relates that its Second Modified Plan has been confirmed
and the authority to sell the real property as part of the Plan
funding has been established.  It further relates that pursuant to
the request of HB Apartments and its counsel, and Chicago Title
Insurance Company, the Debtor is seeking clarification and further
Bankruptcy Court approval of the Debtor's authority to sell Regency
Square to HB Apartments, in accordance with the Debtor's Confirmed
Second Modified Plan of Reorganization.

The key terms of the sale, among others, are as follows:

     (a) Buyer: HB Apartments, LLC

     (b) Total Consideration: $10,600,000

     (c) Effective Date of Contract: March 18, 2016

     (d) Earnest Money: The Contract requires $250,000 in earnest
money

     (e) Closing Date: No later than May 2, 2016

The Debtor believes that entering into a contract with HB
Apartments is advantageous because HB Apartment's current all cash
offer of $10,600,000 is favorable in light of the recent contracts,
with financing contingencies, received on Regency Square.  The
Debtor contends that granting its motion to sell Regency Square is
in the best interest of the estate, because it will permit the
estate to realize the maximum value for this property, in the
shortest period of time, with the greatest certainty that the sale
will be consummated.

Texas Regency Apartments is represented by:

          Matthew Hoffman, Esq.
          Alan B. Saweris, Esq.
          HOFFMAN & SAWERIS, P.C.
          Riviana Building
          2777 Allen Parkway, Suite 1000
          Houston, TX 77019
          Telephone: (713)654-9990
          Facsimile: (713)654-0038

                  About Texas Regency Apartments

Texas Regency Apartments, L.P., owner of the 313-unit Regency
Square Apartments at 7222 Bellerive Dr., Houston, Texas, sought
Chapter 11 protection (Bankr. S.D. Tex. Case No. 15-33188) in
Houston, Texas, on June 10, 2015.  Gordon Steele, the CFO, signed
the petition.

Judge David R. Jones presides over the case.  

The Debtor tapped Matthew Hoffman, Esq., at the Law Offices of
Matthew Hoffman, P.C., as counsel.

The Debtor disclosed total assets of $11.1 million and total debts
of $11.4 million in its schedules.


TRAVELPORT WORLDWIDE: May Issue 499,086 shares Under Plan
---------------------------------------------------------
Travelport Worldwide Limited filed with the Securities and Exchange
Commission a Form S-8 registration statement to register
499,086 common shares that may be issued under the Company's 2015
MTT Incentive Plan.  A copy of the regulatory filing is available
for free at http://is.gd/66Tbd3

                     About Travelport Worldwide

Travelport Worldwide Limited is a travel commerce platform
providing distribution, technology, payment and other solutions for
the global travel and tourism industry.

As of Dec. 31, 2015, Travelport had $2.92 billion in total assets,
$3.25 billion in total liabilities and a total deficit of $323
million.

                           *     *     *

As reported by the TCR on March 8, 2016, Standard & Poor's Ratings
Services raised to 'B+' from 'B' its long-term corporate credit
rating on U.K.-based travel services provider Travelport Worldwide
Ltd.  The outlook is stable.


VALEANT PHARMA: Receives Default Notice Due to Delayed 10-K Filing
------------------------------------------------------------------
Valeant Pharmaceuticals International, Inc. on April 12 disclosed
that it has received a notice of default from holders of its 5.5%
Notes due 2023 as a result of the delay in the Company filing its
Form 10-K for the fiscal year ended December 31, 2015.  The Company
discussed on its March 15, 2016 preliminary earnings call the
possibility of receipt of such notice.  Under its bond indentures,
the Company has until June 11, 2016, 60 days from the receipt of
the notice, to file its 10-K, which will cure the default in all
respects.  The Company is working diligently and is on schedule to
file its 10-K on or before April 29, 2016.  The notice of default
does not result in the acceleration of any of the Company's
indebtedness.  As previously announced, the Ad Hoc Committee of the
board of directors has completed its review of various Philidor and
related accounting matters and has not identified any additional
items that would require restatements beyond those required by
matters previously disclosed.  The Company is in the process of
restating the affected financial statements, and the restated
financial statements will be included in the Company's Form 10-K
for the fiscal year ended December 31, 2015, which the Company
intends to file with the Securities and Exchange Commission and the
Canadian Securities Regulators on or before April 29, 2016.  

Laval, Quebec-based Valeant Pharmaceuticals International, Inc.
(NYSE/TSX:VRX) --
http://www.valeant.com/-- is a multinational  specialty
pharmaceutical company that develops, manufactures and markets a
broad range of pharmaceutical products primarily in the areas of
dermatology, gastrointestinal disorder, eye health, neurology and
branded generics.


VALEANT PHARMACEUTICALS: Defaults Under 2012 Credit Pact Waived
---------------------------------------------------------------
Valeant Pharmaceuticals International, Inc., on April 11, 2016,
entered into an amendment and waiver to its Third Amended and
Restated Credit and Guaranty Agreement, dated as of Feb. 13, 2012,
with Barclays Bank PLC, as administrative agent.

As disclosed in a Form 8-K report filed with the Securities and
Exchange Commission, amendment No. 12 extends the deadline for
filing (i) the Company's Form 10-K for the fiscal year ended
Dec. 31, 2015, to May 31, 2016, and (ii) the Company's Form 10-Q
for the fiscal quarter ended March 31, 2016, to July 31, 2016.  In
addition, Amendment No. 12 waives the cross-default under the
Credit Agreement to Valeant's indentures that arose when the Form
10-K for the fiscal year ended Dec. 31, 2015, was not filed by
March 15, 2016, as well as any cross default that may arise under
the Company's other indebtedness from the failure to timely deliver
the Form 10-K.  Any cross default that may arise under the
indentures or the Company's other indebtedness as a result of any
delay in filing the Company's Form 10-Q for the fiscal quarter
ended March 31, 2016, was also waived by Amendment No. 12.  

In addition, Amendment No. 12 waives any defaults or events of
default that may have resulted from the prior delivery of financial
statements or information that included the inaccurate information
described in the Company's press release dated
March 21, 2016, the Company's Form 12b-25 filing dated Feb. 29,
2016 and the Company's Form 8-K filing dated March 21, 2016.

Amendment No. 12 imposes a number of restrictions on the Company
and its subsidiaries until the time that (i) the Company delivers
its Form 10-K for the fiscal year ended Dec. 31, 2015, and its Form
10-Q for the fiscal quarter ended March 31, 2016 and (ii) the
leverage ratio of the Company and its subsidiaries is less than
4.50 to 1.00, including imposing a $250,000,000 aggregate cap on
permitted acquisitions, a restriction on the incurrence of debt to
finance permitted acquisitions and a requirement that all net asset
sale proceeds be used to repay the term loans instead of being
reinvested in the business.  In addition, the Company's ability to
make investments and restricted payments using the general basket
under the Credit Agreement will also be restricted and subject to
the Transaction Cap until such time that the Financial Reporting
Requirements are satisfied and the leverage ratio of the Company
and its subsidiaries is less than 4.00 to 1.00.

Amendment No. 12 also increases the interest rate applicable to the
Company's loans under the Credit Agreement by 1.00% until delivery
of the Company's financial statements for the fiscal quarter ending
June 30, 2017.  Thereafter, the interest rate applicable to the
loans will be determined on the basis of a pricing grid tied to the
Company's secured leverage ratio.

Amendment No. 12 reduces the minimum interest coverage ratio
covenant under the Credit Agreement from 3.00 to 1.00 to 2.75 to
1.00 for any fiscal quarter from June 30, 2016 through March 31,
2017.

Amendment No. 12 also modifies certain add-backs to Consolidated
Adjusted EBITDA under the Credit Agreement, including increasing
the add-back for (i) restructuring charges in any twelve-month
period to $200,000,000 from $125,000,000 and (ii) fees and expenses
in connection with any proposed or actual issuance of debt, equity,
acquisitions, investments, assets sales or divestitures to
$150,000,000 from $75,000,000 for any twelve month period ending on
or prior to March 31, 2017.  The definition of "Consolidated
Adjusted EBITDA" has also been modified to add back fees and
expenses in connection with any amendment or modification of the
Credit Agreement or any other indebtedness, and to permit up to
$175,000,000 to be added back in connection with costs, fees and
expenses relating to Philidor Rx Services-related matters and/or
product pricing-related matters, the Inaccurate Information and any
review by the Company's board of directors, including any special
or ad hoc committee of the board, related to Philidor Rx
Services-related matters and/or product pricing-related matters and
the Inaccurate Information.  Amendment No. 12 modifies the
definition of "Pro Forma Basis" under the Credit Agreement to allow
the Company to give pro forma effect to any incurrence or repayment
of indebtedness (other than indebtedness incurred or repaid under
any revolving credit facility and any repayment of indebtedness
with the proceeds of borrowings under any revolving credit
facility) when making certain financial covenant calculations in
connection with certain transactions.

Amendment No. 12 also permits the Company to incur up to
$750,000,000 of additional unsecured indebtedness at any time.
This basket previously expired on April 1, 2016.

The Company paid each lender that consented to Amendment No. 12 a
fee equal to 0.50% of the aggregate principal amount of outstanding
term loans and revolving commitments held by such lender.

Meanwhile, the Company made a voluntary prepayment in the amount of
$125,000,000 on April 1, 2016, that was applied pro rata across the
Company's term loans.  The voluntary prepayment represents an
estimate of the mandatory excess cash flow payment for the fiscal
year ended Dec. 31, 2015, based on preliminary 2015 results.

A copy of the Amendment No. 12 is available at no charge at:

                      http://is.gd/EToxsn

                          About Valeant

Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a
multinational specialty pharmaceutical company that develops,
manufactures and markets a broad range of pharmaceutical products
primarily in the areas of dermatology, gastrointestinal disorder,
eye health, neurology and branded generics.  More information about
Valeant can be found at www.valeant.com.

As of Sept. 30, 2015, Valeant had US$48.45 billion in total assets,
US$41.98 billion in total liabilities and US$6.46 billion in total
equity.

                          *    *     *

Valeant carries a B2 Corporate Family Rating from Moody's Investors
Service and 'B+' corporate credit rating from Standard & Poor's
Ratings Services.


VALENCIA COLLEGE: 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 Valencia College Shopping Center, LTD.

Valencia College Shopping Center, LTD sought protection under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for
the Middle District of Florida (Orlando) (Case No. 16-01611) on
March 10, 2016.

The petition was signed by Kyungho So, president of Marque
Development Group Corp, general partner of Valencia College
Shopping Center, Ltd.

The Debtor is represented by Jeffrey Ainsworth, Esq., and Robert B.
Branson, Esq., at Brasonlaw PLLC.

The Debtor disclosed total assets of $1.93 million and total debts
of $99,434.


VENOCO INC: May 16 Hearing on Disclosure Statement Approval
-----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will
commence a hearing on May 16, 2016, at 11:00 a.m., (Eastern time),
to consider approval of the disclosure statement explaining Venoco,
Inc., et al.'s Joint Chapter 11 Plan of Reorganization.

The deadline for filing and serving objections to the Disclosure
Statement Motion, including the Disclosure Statement and related
procedures, is May 9.

The Plan contemplates the implementation of a debt-to-equity
conversion of a substantial portion of the Debtors' prepetition
funded indebtedness, which will result in a significantly
deleveraged balance sheet for the Reorganized Debtors upon
emergence.  The compromises and settlements embodied in the Plan
preserve value by enabling the Debtors to avoid costly and
time-consuming litigation that would delay the Debtors' emergence
from Chapter 11.  The Plan provides a framework for a comprehensive
restructuring of the Debtors that includes (a) an exchange of the
First Lien Notes Claims for 90% of the Reorganized Debtors' equity
issued and outstanding as of the Effective Date; (b) an exchange of
the Second Lien Notes Claims for warrants for 10% of the
Reorganized Debtors at a strike price equal to the First Lien Notes
Claims; (c) an exchange of the 8.875% Senior Notes Claims; and (d)
an exchange of the Claims held by holders of the Senior PIK Toggle
Notes for warrants for 2% of the equity of the Reorganized Debtors
at a strike price equal to the First Lien Notes Claims, the Second
Lien Notes Claims and the 8.875% Senior Notes Claims.

With respect to General Unsecured Claims, if the holders of General
Unsecured Claims against DPC vote as a Class to accept the Plan,
those holders will receive their Pro Rata Share of (a) the New DPC
Warrants and (b) the DPC Residual Value.  If those holders vote as
a Class to reject the Plan, the recovery is limited to the DPC
Residual Value. If the holders of General Unsecured Claims against
Venoco and the Venoco Subs vote as a Class to accept the Plan, such
holders will receive their Pro Rata Share of the V6 Cash. If such
holders vote to as a Class to reject the Plan, such holders will
receive their Pro Rata Share of the Venoco Residual Value, if any.

The Debtors are represented by Robert J. Dehney, Esq., Andrew R.
Remming, Esq., and Erin R. Fay, Esq., at Morris, Nichols, Arsht &
Tunnel LLP, in Wilmington, Delaware; Robert G. Burns, Esq., Robin
J. Miles, Esq., and Rebekah T. Scherr, Esq., at Bracewell LLP, in
New York; and Mark E. Dendinger, Esq., at Bracewell LLP, in
Hartford, Connecticut.

                    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: Gets Court Approval for CRCC Agreement
--------------------------------------------------
U.S. Bankruptcy Judge Kevin Gross has approved an agreement between
an affiliate of Verso Corp. and C Reiss Coal Company.

Under the deal, NewPage Wisconsin System Inc. agreed to reduce the
$1.5 million letter of credit it provided to C Reiss, a coal
supplier, to $550,000.

The agreement also allowed C Reiss to apply approximately $60,697
owed by NewPage for "prepetition invoices" against the letter of
credit.  A copy of the agreement is available for free at
http://is.gd/PnFZyj

                    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.

On Feb. 23, 2016, Verso Paper Holdings LLC and its 12 affiliates
("Verso Debtors") employed Quinn Emanuel Urquhart & Sullivan LLP as
special conflicts counsel and Whiteford, Taylor & Preston LLC as
Delaware special conflicts counsel.

Meanwhile, NewPage Corp. and its 10 affiliates employed Latham &
Watkins LLP and Pepper Hamilton LLP as their special conflicts
counsel and Delaware special conflicts counsel, respectively.

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: May 9 Hearing on Disclosure Statement Approval
----------------------------------------------------------
The U.S. Bankruptcy Court for the District of Delaware will convene
a hearing to consider approval of the Disclosure Statement
explaining Verso Corporation, et al.'s Joint Chapter 11 Plan of
Reorganization on May 9, 2016, at 10:00 a.m. (prevailing Eastern
time).  Objections are due May 2.

Under the Plan, 100% of the equity of Reorganized Verso will be
issued to the Debtors' existing creditors, subject to dilution by
equity issued to the Reorganized Debtors’ employees under the
Management Incentive Plan and the Plan Warrants.

Specifically, holders of Allowed Verso First Lien Claims will
receive 50% of Reorganized Verso's equity (plus warrants to
purchase additional equity), holders of NewPage Roll-Up DIP Claims
and NewPage Term Loan Claims
will receive 47% of Reorganized Verso's equity, holders of Verso
Senior Debt Claims will receive 2.85% of Reorganized Verso's
equity, and holders of Verso Subordinated Debt Claims will receive
the remaining 0.15% of Reorganized Verso's equity.

The Plan also provides for the payment in full in cash of claims
under the Verso Debtors' debtor in possession asset-based financing
facility, Claims under the NewPage Debtors' debtor-in-possession
asset-based financing facility, Claims relating to the "new money"
portion of the NewPage Debtors' debtor-in-possession term loan
facility, and Claims entitled to administrative expense or priority
status under the Bankruptcy Code.

A full-text copy of the Disclosure Statement dated March 26, 2016,
is available at http://bankrupt.com/misc/VERSOds0326.pdf

The Debtors are represented by Mark D. Collins, Esq., Michael J.
Merchant, Esq., and Amanda R. Steele, Esq., at Richards, Layton &
Finger, P.A., in Wilmington, Delaware; and George A. Davis, Esq.,
Suzzanne S. Uhland, Esq., Peter Friedman, Esq., Andrew M. Parlen,
Esq., and Diana M. Perez, Esq., at O'Melveny & Myers LLP, in New
York.

                    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 CORPORATION: Hires PwC as Accounting Services Provider
------------------------------------------------------------
Verso Corporation and its debtor-affiliates ask permission from the
U.S. Bankruptcy Court for the District of Delaware to employ
PricewaterhouseCoopers LLC as bankruptcy and emergence accounting
services provider, nunc pro tunc to March 16, 2016.

The services that PwC will render to the Debtors in these cases may
include the following:

   (a) Prepare a detailed listing of accounting and operational
       issues that will need to be resolved prior to emergence,
       including, but not limited to:

       -- gain an understanding of the key bankruptcy filings;

       -- determine the applicability of Fresh Start Accounting;

       -- reconcile Reorganization Value to Enterprise Value to
          prepare the new balance sheet;

       -- determine new segment reporting or reporting units;

       -- apply Fresh Start Accounting to each individual trial
          balance account;

       -- prepare work papers that are both effective and
          efficient in explaining all of the required adjustments
          both for management's records and for discussions with
          Debtors' external auditors;

       -- determine new accounting policies for the emerged
          company; and

       -- record the impact of Fresh Start Accounting and the Plan

          of Reorganization to the Debtors' general ledger.

   (b) Implement Phase I accounting advisory support, including,
       but not limited to:

       -- advise management on the creation of the project plan
          that applies to both operational and financial
          requirements for accounting for emergence from
          bankruptcy;

       -- advise management on the timing of milestones and
          milestone interdependencies; communication framework,
          including related status reporting; governance
          structure; resource requirements; issue resolution
          process; and the responsibilities of various project
          teams/participants;

       -- advise management on system impacts for Fresh Start
          Accounting;

       -- advise management on what whitepapers will be required
          to support the company's accounting position elections;
          and

       -- advise management on the applicability and determination

          of a convenience date, if the company does not emerge on

          a natural period end.

   (c) Implement Phase II accounting advisory support, including,
       but not limited to:

       -- advise management on coordination with their auditors on

          key accounting and operational matters;

       -- draft whitepapers regarding accounting issues;

       -- advise management on their execution of the development
          of the accounting documentation that supports all of the

          individual transactions that make up the 4 column
          balance sheet; and

       -- advise management on the potential operational matters
          on the Debtors' systems regarding implementation of
          Fresh Start Accounting.

PwC will be paid at these hourly rates:

       Partner/Managing
       Director               $693-$980
       Director/Sr. Manager   $624-$711
       Manager                $486-$577
       Staff                  $343-$406
       Admin                  $125

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

The Debtors anticipate the fees for PwC's Services to be between
$300,000 and $400,000.

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

The Bankruptcy Court will hold a hearing on the motion on April 20,
2016, at 10:00 a.m.  Objections were due April 13, 2016.

PwC can be reached at:

       Steve Lilley
       PRICEWATERHOUSECOOPERS LLP
       2001 Ross Avenue, Suite 1800
       Dallas, TX 75201
       Tel: (214) 754-4804

                     About Verso Corporation

Verso Corporation is a 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 CORPORATION: Taps Hilco Valuation as Appraiser
----------------------------------------------------
Verso Corporation and its debtor-affiliates ask permission from the
U.S. Bankruptcy Court for the District of Delaware to employ Hilco
Valuation Services, LLC as appraiser and valuation consultant, nunc
pro tunc to March 7, 2016.

Pursuant to the Engagement Letters, Hilco Valuation has agreed to
provide the Debtors with:

   (a) a Fair Value appraisal of the Debtors' machinery and
       equipment;

   (b) an Orderly Liquidation Value and Net Orderly Liquidation
       Value of the Debtors' machinery and equipment; and

   (c) an Orderly Liquidation Value In-Place and Net Orderly
       Liquidation Value In-Place of the Debtors' machinery and
       equipment.

Hilco Valuation will be compensated in accordance with the fee
structure set forth in the Engagement Letters, which provides that
Hilco Valuation will be paid:

    -- a flat fee of $243,500 plus

    -- normal and customary travel expenses.

On February 25, 2016, the Debtors provided Hilco Valuation with a
retainer of $121,750 and will remit the remaining amount of fees
and expenses upon Hilco Valuation's completion of the Appraisals
and the Debtors' receipt of the final invoice from Hilco
Valuation.

Ryan Lawlor, vice president and assistant general counsel for Hilco
Trading, LLC, the parent company of Hilco Valuation, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

The Bankruptcy Court will hold a hearing on the motion on April 20,
2016, at 10:00 a.m.  Objections were due April 13, 2016.

Hilco Valuation can be reached at:

       Ryan Lawlor
       HILCO VALUATION SERVICES, LLC
       5 Revere Drive, Suite 300
       Northbrook, IL 60062
       Tel: (847) 849-2946
       Fax: (847) 272-1952

                      About Verso Corporation

Verso Corporation is a 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.



VERTELLUS SPECIALTIES: S&P Lowers CCR to 'D' on Missed Payment
--------------------------------------------------------------
Standard & Poor's Rating Services lowered its corporate credit
rating on Vertellus Specialties Inc. to 'D' from 'CCC'.

In addition, S&P lowered the rating on the company's $455 million
first-lien term loan due in 2019 to 'D' from 'CCC'.  The recovery
rating remains '4', indicating S&P's expectation for average (lower
end of the 30% to 50% range) recovery in the event of a payment
default.

The 'D' rating reflects S&P's view of Vertellus' failure to make
its April interest payment on its senior secured loan due 2019.


VICTORY ENERGY: Hires New Interim Chief Financial Officer
---------------------------------------------------------
Victory Energy Corporation's board of directors has appointed Jeff
Marlowe as its interim chief financial officer, according to a
company press release.  Mr. Marlowe will replace Fred J. Smith, Jr.
who resigned from the company last week to pursue other
opportunities.
Prior to joining the Company, Mr. Marlowe held the position of
director of general accounting at Forestar Group, Inc., a real
estate and natural resource development company, where he directed
a multi-location accounting team encompassing employees in both the
real estate and oil and gas business segments.  Prior to his post
at Forestar, from 2009 to 2013, Mr. Marlowe was employed by Davis
Petroleum Corp., a private-equity owned oil and gas company, where
he first started as corporate controller and was eventually
promoted to vice president & controller and was the most senior
financial officer of the company.  Before his role at Davis
Petroleum, Mr. Marlowe served as controller at Kayne Anderson Fund
Advisors, LLC and was the financial reporting manager at Rosetta
Resources.  He started his career in public accounting in the
Global Energy Practice at PwC, LLP as an audit manager in both
their Houston and London, UK offices.  Mr. Marlowe graduated from
Texas A&M University in 1997 with a BBA in Accounting and Finance
and is a Certified Public Accountant in the State of Texas.

"We welcome Jeff to the position and are very pleased to have
someone of his caliber and financial skill set serve as our Interim
CFO," said Kenny Hill, chief executive officer of Victory Energy.
"Jeff brings the perfect combination of skills, experience,
dedicated work ethic and leadership abilities that we need to
execute our strategy of growth through acquisitions.  His proven
and concentrated experience in the oil and gas industry, dedication
to quality people management and history of driving internal
systems, measurement and process improvement are ideal. We believe
these qualities will be instrumental as we execute our business
plan and navigate through the current commodity price cycle
downturn.

"On behalf of our board and management team I would like to thank
Fred Smith for his service and commitment during his time as Chief
Financial Officer at Victory Energy and wish him the best in his
future endeavors," added Mr. Hill.

In connection with the appointment of Mr. Marlowe, on April 8,
2016, the Company entered into a consulting agreement with
Bridgepoint Consulting LLC, the employer of Mr. Marlowe.  Pursuant
to the agreement, Bridgepoint will receive compensation of $190 per
hour.  A deposit of $30,000 will also be provided to serve as a
retainer and replenished at least monthly.  Bridgepoint will only
bill for actual hours incurred and no minimum hours are required.
Travel hours will be billed at half the contracted rate.
Bridgepoint is an independent contractor.  The agreement may be
terminated by either Bridgepoint or the Company upon two weeks'
notice.  It is subject to a one-year non-solicitation agreement
pursuant to which the Company agreed not to employ any employee
(including Mr. Marlowe) for the term of the agreement and the
following 12 months without the consent of Bridgepoint.

                      About Victory Energy

Austin, Texas-based Victory Energy Corporation is engaged in the
exploration, acquisition, development and exploitation of domestic
oil and gas properties.  Current operations are primarily located
onshore in Texas, New Mexico and Oklahoma.

Victory Energy reported a net loss of $4.90 million on $650,648 of
total revenues for the year ended Dec. 31, 2015, compared to a net
loss of $4.22 million on $695,318 of total revenues for the year
ended Dec. 31, 2014.  As of Dec. 31, 2015, Victory Energy had $1
million in total assets, $3.73 million in total liabilities and a
total stockholders' deficit of $2.72 million.

Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has
experienced recurring losses since its inception and has an
accumulated deficit.  These conditions raise substantial doubt
regarding the Company's ability to continue as a going concern.


VICTORY ENERGY: Reports Fiscal 2015 Financial Results
-----------------------------------------------------
Victory Energy Corporation announced operating results for the 12
months ended Dec. 31, 2015.

Fiscal 2015 Highlights

  * Received investment capital of $2.9 million from partner
    Navitus Energy Group (NEG) in fiscal 2015.

  * Added working interest in five South Texas Eagle Ford oil
    wells as part of the settlement agreement associated with the
    terminated Lucas Energy merger.

  * Increased total oil production 87% to 12,152 (Bbl) from 6,509
    (Bbl) in fiscal 2014.

  * Increased Barrels of oil equivalent 31% to 50 BOE/d (66% oil)
    from 39 BOE/d in fiscal 2014.

  * Decreased production costs 28% per BOE prices in fiscal 2015.

  * At Dec. 31, 2015, the Company held a working interest in 37
   gross wells located in the states of Texas and New Mexico.

"Given a full twelve months of depressed commodity prices, I remain
very proud of the team here at Victory Energy in achieving 87%
growth in oil production as well as an increase in total gross
wells, all while recording a decrease in lease operating expenses,"
commented Kenny Hill, chief executive officer of Victory Energy.

"We remain diligent in seeking potential acquisition targets with
proved producing reserves, limited mandatory development risk and
limited lease expiration exposure.  The depressed commodity market
has created voluminous opportunities to acquire properties at
attractive valuations and we are confident that further
opportunities will present themselves.

"Investment capital from our long-time partner Navitus Energy Group
(NEG) has positively and substantially impacted Victory Energy
through the past twelve months more than at any time during the
partnership since its creation in 2008.  Navitus is currently
raising up to $15 million of investment capital via a private
placement to help fund operations and acquire developing targeted
oil and gas opportunities," said Mr. Hill.

Victory Energy is an independent, growth oriented oil and natural
gas Company focused on acquiring, developing and producing oil and
natural gas properties generally in multiple Texas plays.  Through
its partnership interest in Aurora Energy Partners, the company is
able to acquire needed capital when ideal projects, with specific
capital return and development profiles become available.

The Company's oil and gas revenue fluctuations are directly related
to the volumes produced and the commodity prices paid over the
respective periods presented.  Despite a 28% decline in prices, Oil
and Natural Gas revenues only decreased $44,670 or 6% from $695,318
to $650,648 for the twelve months ended Dec. 31, 2015, compared to
the twelve months ended Dec. 31, 2014.

Lease operating expenses decreased $30,407 to $159,800 or 16% from
$190,207 for the twelve months ended Dec. 31, 2015.  The decline is
primarily the result of lower per BOE lease operating expense rates
of its new Eagle Ford area wells held by the Company at
Dec. 31, 2015.

General and administrative expenses increased $1.7 million or 63%
to $4.4 million for the twelve months ended Dec. 31, 2015, from
$2.7 million for the twelve months ended Dec. 31, 2014.  The
increase is primarily due to continued efforts to expand
operations, become timely with all SEC filings and asset related
transactions, as well as share based compensation costs and
professional fees associated with the Lucas Energy business
combination transaction.

Net loss attributable to Victory Energy was $4.2 million or a loss
of $0.14 per share, for the twelve months ended Dec. 31, 2015,
compared to a net loss of $3.2 million or $0.11 per share for the
prior year.  The weighted average shares outstanding at Dec. 31,
2015, were 29.8 million shares compared to 28.5 million as of
Dec. 31, 2014.

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

                       http://is.gd/aIQQtc

                      About Victory Energy

Austin, Texas-based Victory Energy Corporation is engaged in the
exploration, acquisition, development and exploitation of domestic
oil and gas properties.  Current operations are primarily located
onshore in Texas, New Mexico and Oklahoma.

Victory Energy reported a net loss of $4.90 million on $650,648 of
total revenues for the year ended Dec. 31, 2015, compared to a net
loss of $4.22 million on $695,318 of total revenues for the year
ended Dec. 31, 2014.  As of Dec. 31, 2015, Victory Energy had $1
million in total assets, $3.73 million in total liabilities and a
total stockholders' deficit of $2.72 million.

Weaver and Tidwell, L.L.P., in Houston, Texas, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has
experienced recurring losses since its inception and has an
accumulated deficit.  These conditions raise substantial doubt
regarding the Company's ability to continue as a going concern.


VOYA FINANCIAL: Fitch Affirms 'BB+' Jr. Subordinated Debt Rating
----------------------------------------------------------------
Fitch Ratings has affirmed Voya Financial, Inc.'s (Voya) senior
debt rating at 'BBB' and junior subordinated debt rating at 'BB+'.
The Insurer Financial Strength (IFS) ratings of the U.S. operating
entities have also been affirmed at 'A'. The Rating Outlook for all
ratings is Stable.

The affirmation reflects Voya's balance sheet strength and ample
debt servicing capacity. Voya's ratings also reflect the large
scale and solid business profile in retirement, employee benefits
and universal life markets, improved operating performance within
its core businesses, and conservative investment portfolio.
Offsetting these positives are the challenges related to the
run-off of Voya's $39 billion closed-block VA book and ongoing
headwinds associated with the low rate environment, which
negatively impacts earnings and reserve adequacy.

KEY RATING DRIVERS

During 2015, Voya reported pre-tax operating income of $978 million
and an operating return on equity (ROE) of 7.0%. Pre-tax operating
income for the ongoing business was down 12% in 2015 due to higher
claims severity in the life segment, lower fee income in the
recordkeeping and full service businesses, lower alternative
investment income, the impact of the continued low interest rate
environment on reinvestment rates and higher operating expenses as
a result of the company's strategic investment program. Voya will
be making incremental investments of $350 million over the next
four years designed to increase growth and reduce costs.

While Voya expects operating income to improve, operating ROE will
continue to be impacted by the significant amount of capital
supporting the closed block VA and individual life business. Fitch
expects a sustained low interest rate environment will create
headwinds and could impact Voya's ability to meaningfully improve
earnings.

GAAP adjusted operating earnings-based interest coverage was 7.0x
in 2015, down from 7.9x in 2014 but in line with Fitch's median
ratio guideline for an 'A' rated company. Based on estimated
ordinary statutory dividend capacity of $867 billion in 2016, Fitch
estimates Voya's statutory interest coverage will be approximately
5.3x in 2016, down slightly from 5.8x in 2015. This is in excess of
Fitch's median ratio guideline of 3x for an 'A' rated company.

At year-end 2015, financial leverage was 22.4%, below management's
stated long-term target of 25% and below Fitch's median guideline
of 28% for Voya's current rating. Fitch believes the quality of the
company's common equity is better than peer averages, with minimal
exposure to goodwill and other intangibles.

Fitch considers Voya's aggregate capitalization, including
captives, to be strong for the current rating level. The
consolidated risk-based capital (RBC) ratio for the company's U.S.
insurance subsidiaries was 489% at year-end 2015. Fitch expects
reported RBC to remain in the 425% - 450% range over the
intermediate term driven by improved statutory operating
performance offset by distributions to the holding company. Fitch
views Voya's share repurchase program as a more prudent use of
excess capital than acquisitions or rapid growth. Fitch's
expectation is that share repurchase will be funded through
operating earnings and will not result in a material increase in
financial leverage or deterioration in subsidiary capitalization.

Fitch's key rating concerns include the challenges related to the
run-off of Voya's $39 billion closed-block VA book, particularly in
a tail-risk scenario. Fitch notes as positive that the company has
utilized dynamic and macro hedging to mitigate the statutory
capital impact associated with changes in the equity markets and/or
interest rates. However, policyholder behavior assumptions cannot
be hedged and therefore remain a risk. At year-end 2015, Voya had
$5.7 billion in reserves and capital supporting the closed-block VA
book.

While Fitch views Voya's investment portfolio as generally high
quality, the company's exposure to the energy sector totalled $7.3
billion at year-end 2015, or 13.4% of the total corporate bond
portfolio. This is slightly above the U.S. life insurance
industry's 12% allocation. However, the credit quality of Voya's
portfolio is better than the U.S. life industry with approximately
92% of the Voya's energy sector bonds rated investment grade.

RATING SENSITIVITIES

The key rating triggers that could result in an upgrade include:
-- Continued growth in operating profitability which leads to an
    improvement in operating ROE to over 11%;
-- Sustained maintenance of GAAP adjusted operating earnings-
    based interest coverage of more than 10x;
-- Private sale of closed-block book at good value with boost to
    capitalization and reduction in volatility and risk;
-- Reported RBC above 450%, and financial leverage below 20%.

The key rating triggers that could result in a downgrade include:
-- A decline in reported RBC below 375%;
-- Financial leverage exceeding 30%;
-- Significant adverse operating results which leads to GAAP
    adjusted operating earnings-based interest coverage below 6x;
-- Material reserve charges required in its insurance/variable
    annuity books.

FULL LIST OF RATING ACTIONS

Fitch has affirmed the following ratings with a Stable Outlook:

Voya Financial, Inc.
-- Long-term IDR at 'BBB+';
-- 5.5% senior notes due July 15, 2022 at 'BBB';
-- 2.9% senior notes due Feb. 15, 2018 at 'BBB';
-- 5.7% senior notes due July 15, 2043 at 'BBB';
-- 5.65% fixed-to-floating junior subordinated notes due May 15,
    2053 at 'BB+'.

Voya Retirement Insurance and Annuity Company
Voya Insurance and Annuity Company
ReliaStar Life Insurance Company
ReliaStar Life Insurance Company of New York
Security Life of Denver Insurance Company
-- IFS at 'A'.

Equitable of Iowa Companies, Inc.
-- Long-term IDR at 'BBB+'.

Equitable of Iowa Companies Capital Trust II
-- 8.424% Trust Preferred Stock at 'BB+'.

Peachtree Corners Funding Trust
-- $500 million of 3.976% pre-capitalized trust securities due
    2025 at 'BBB'.



WHIRLWIND FARMS: Case Summary & 9 Unsecured Creditors
-----------------------------------------------------
Debtor: Whirlwind Farms, Inc.
        6301 SE CR 31
        Kendall, KS 67857

Case No.: 16-10623

Chapter 11 Petition Date: April 12, 2016

Court: United States Bankruptcy Court
       District of Kansas (Wichita)

Judge: Hon. Robert E. Nugent

Debtor's Counsel: David R. Klaassen, Esq.
                  DAVID R. KLAASSEN
                  2649 6th Avenue
                  Marquette, KS 67464
                  Tel: (785) 546-2358
                  E-mail: drklaassen@ks-usa.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Robert Thomas Lampe, president.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/ksb16-10623.pdf


WHITING PETROLEUM: FMR Reports 13.67% Stake as of April 8
---------------------------------------------------------
In a Schedule 13G filed with the Securities and Exchange Commission
on April 8, 2016, FMR LLC and Abigail P. Johnson disclosed that
they beneficially own 28,442,266 shares of common stock of Whiting
Petroleum Corp. representing 13.676 percent of the shares
outstanding.  A copy of the regulatory filing is available for free
at http://is.gd/OTzW99

                   About Whiting Petroleum

Whiting Petroleum Corporation is an independent oil and gas company
engaged in development, production, acquisition and exploration
activities primarily in the Rocky Mountains and Permian Basin
regions of the United States.

As of Dec. 31, 2015, Whiting Petroleum had $11.38 billion in total
assets, $6.63 billion in total liabilities and $4.75 billion in
total equity.

Whiting Petroleum reported a net loss available to common
shareholders of $2.21 billion on $2.05 billion of total revenues
and other income for the year ended Dec. 31, 2015, compared to net
income available to common shareholders of $64.80 million on $3.08
billion of total revenues and other income for the year ended
Dec. 31, 2014.


[*] Villere & Co. Obtains Favorable Ruling in Case v. Epiq Systems
------------------------------------------------------------------
Investment advisor St. Denis J. Villere & Co. ("Villere") won a
major victory in the Kansas City Circuit Court last week in their
case against Kansas City-based Epiq Systems, Inc.  Villere sought
to nominate a new slate of directors for Epiq, a bankruptcy,
eDiscovery, and administrative services company, because they
believe that the company's recent years of declining performance
was the result of poor management.

In the five years prior to Villere's active engagement, Epiq's
stock price dropped 8.65% (June 30, 2009 to June 30, 2014) compared
to a gain of 119.20% for the Russell 3000 index, a measure of the
broader stock market.  Since then, coincident with Villere's
involvement, Epiq's stock price rose 6.90% vs. the Russell's 3.16%
(July 1, 2014 to March 31, 2016.)

Villere, a long-term investor in Epiq, nominated six highly
qualified individuals for election to Epiq's board of directors on
December 4, 2015.

"We have been asked why we didn't just sell our shares in light of
the company's poor performance," said George Young, partner at
Villere.  "We have owned Epiq for over 10 years and met with
current management many times to voice our concerns.  Based on our
research and knowledge, we continue to view Epiq as a fundamentally
good company with the potential for tremendous value creation.  In
our opinion, their performance issues stem from inadequate
management.  We firmly believe a change in leadership could right
the ship, and we are willing to fight for such a change on behalf
of our investors and all the other shareholders."

In the two weeks that followed, Epiq rejected the nomination,
contending that it was made in violation of a standstill agreement
(the Director Appointment Agreement) entered into between Villere
and Epiq on November 1, 2014 and that the nomination did not comply
with Epiq's Amended and Restated Bylaws, which limit shareholder
nominations of directors to those who own 5% or more of Epiq's
stock for more than 24-months.

Villere had been a beneficial owner of more than 5% of Epiq stock
since August 13, 2003.

In response, Villere was forced to take the extraordinary step of
suing the company and its directors, save one, to enforce its right
as a shareholder to nominate a slate of directors who could then be
presented at Epiq's 2016 Annual Shareholders Meeting.   

Epiq's litigation tactics demonstrated that their principal goal
was to deter Villere and avoid a contested election.  Epiq employed
a variety of delaying tactics seeking to put off the trial until
after the 2016 annual meeting, which included bringing
counterclaims against Villere and twenty of its clients, and added
significantly to the litigation expense which Epic is funding with
shareholder money.

These aggressive actions toward Villere's clients deserve special
note, as they reveal the extraordinary length to which Epiq will go
to entrench themselves in office.  In a highly unusual move, Epiq
subpoenaed twenty Villere clients to produce documents and appear
at depositions in a purported effort to show that the clients, who
all had executed account agreements delegating to Villere all
investment and voting power over the Epiq shares at issue, had not
authorized Villere's actions.  Epiq named each of them as
counterclaim defendants.

Last week, the Court totally rejected Epiq's positions and enforced
Villere's rights.  It found that Villere properly terminated the
standstill "under the plain, unambiguous language of the Director
Appointment Agreement" and that Villere's nomination fully complied
with the Company's Bylaws.  The Court granted Villere's requested
declaratory judgment and permanently enjoined Epiq and director
defendants "from preventing Villere, through Cede, from presenting
its slate of nominees at the 2016 Annual Meeting."

The Court's ruling cleared the way for Villere to commence its
proxy contest.  Shareholders will have a chance to elect directors
to Epiq's board at the company's annual meeting on June 9, 2016.

"We are eager to move forward and put this immense legal battle
behind us, a battle we have taken on at no cost to our investors as
part of our fiduciary responsibility.  Our activist stance has not
been undertaken lightly.  Our research process is grounded in
knowing intimately the companies in which we invest. With new
leadership, we are confident that Epiq will deliver
greatly-enhanced long-term value, which is at the core of our
investment philosophy," Mr. Young added.

Epiq stockholders with questions about the Epiq Annual Meeting can
contact Okapi Partners, Villere's proxy solicitor, toll-free at
(855) 305-0857.

                        About Villere & Co.

Founded over 100 years ago in 1911 by St. Denis J. Villere, Villere
& Co. -- http://www.villere.com-- remains a family-run business.  
An SEC-Registered Investment Advisor, it is headquartered in New
Orleans.  The advisor has been operated continuously since then by
four generations of the Villere family.  As of December 31, 2015,
the firm has nearly $2.5 billion in assets under management for
separate accounts and two mutual funds.


[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Maxwell Joseph Bruner
   Bankr. N.D. Fla. Case No. 16-30302
      Chapter 11 Petition filed March 30, 2016
         Represented by: Jodi Daniel Cooke, Esq.
                         STICHTER RIEDEL BLAIN & POSTLER, PA
                         E-mail: jcooke@srbp.com

In re Alutrade, LLC
   Bankr. S.D. Fla. Case No. 16-14542
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/flsb16-14542.pdf
         represented by: Chad T Van Horn, Esq.
                         VAN HORN LAW GROUP, PA
                         E-mail: Chad@cvhlawgroup.com

In re Pike's Landing, LLC
   Bankr. M.D. Ga. Case No. 16-70326
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/gamb16-70326.pdf
         represented by: Ronald B. Warren, Esq.
                         WHITEHURST, BLACKBURN, WARREN AND KELLEY
                         E-mail: bankruptcy@wbwk.com

In re Kramer Mechanical, LLC
   Bankr. N.D. Ill. Case No. 16-10903
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/ilnb16-10903.pdf
         represented by: Karen J Porter, Esq.
                         PORTER LAW NETWORK
                         E-mail: porterlawnetwork@gmail.com

In re Ilya Golub and Simona Golub
   Bankr. N.D. Ill. Case No. 16-10968
      Chapter 11 Petition filed March 30, 2016
         Represented by: Ariane Holtschlag, Esq.
                         LAW OFFICE OF WILLIAM J. FACTOR, LTD.
                         E-mail: aholtschlag@wfactorlaw.com

In re 60 On Central LLC
   Bankr. D. Mass. Case No. 16-11131
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/mab16-11131.pdf
         represented by: Michael Van Dam, Esq.
                         VAN DAM LAW LLP
                         E-mail: mvandam@vandamlawllp.com

In re Lynn Community Access & Media Inc.
   Bankr. D. Mass. Case No. 16-11139
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/mawb16-11139.pdf
         represented by: Emmanuel N. Papanickolas, Esq.
                         PAPANICKOLAS LAW OFFICES

In re Wellness Investments, LLC
   Bankr. E.D. Mich. Case No. 16-30781
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/mieb16-30781.pdf
         represented by: Jeffrey A. Chimovitz, Esq.
                         E-mail: jeffchimovitz@gmail.com

In re William Michael Miller
   Bankr. W.D. Mo. Case No. 16-50125
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/mowb16-50125.pdf
         represented by: Donald G. Scott, Esq.
                         MCDOWELL RICE SMITH & BUCHANAN
                         E-mail: dscott@mcdowellrice.com

In re FAJR'S Seafood & Soulfood Corporation
   Bankr. D.n.j. Case No. 16-16000
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/njb16-16000.pdf
         represented by: Stephen B. McNally, Esq.
                         MCNALLY & BUSCHE, LLC
                         E-mail: steve@mcnallylawllc.com

In re Roman P Osadchuk LLC
   Bankr. D.N.J. Case No. 16-16032
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/njb16-16032.pdf
         represented by: Hercules Pappas, Esq.
                         HERCULES LAW GROUP, LLC
                         E-mail: hpappas@herculeslawgroup.com

In re Howard C. Lapensohn
   Bankr. E.D. Pa. Case No. 16-12152
      Chapter 11 Petition filed March 30, 2016
         represented by: David B. Smith, Esq.
                         SMITH KANE
                         E-mail: dsmith@smithkanelaw.com

In re Kipin Industries, Inc.
   Bankr. W.D. Penn. Case No. 16-21164
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/pawb16-21164.pdf
         represented by: Edgardo D. Santillan, Esq.
                         SANTILLAN LAW FIRM, PC
                         E-mail: edscourt@debtlaw.com

In re El Primero, Inc.
   Bankr. E.D. Va. Case No. 16-11142
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/vaeb16-11142.pdf
         represented by: Justin Fasano, Esq.
                         McNamee, Hosea, Jernigan, Kim, Greenan
                         Email: jfasano@mhlawyers.com
In re Gerald William Brunskill
   Bankr. C.D. Cal. Case No. 16-14059
      Chapter 11 Petition filed March 31, 2016
         represented by: M Jonathan Hayes, Esq.
                         SIMON RESNIK HAYES LLP
                         E-mail: jhayes@srhlawfirm.com

In re Jill Marie Meeuwsen-Holmes
   Bankr. N.D. Cal. Case No. 16-40868
      Chapter 11 Petition filed March 31, 2016
         represented by: Scott J. Sagaria, Esq.
                         LAW OFFICES OF SCOTT J. SAGARIA
                         E-mail: SagariaBK@sagarialaw.com

In re Sylvain Lapointe
   Bankr. M.D. Fla. Case No. 16-02797
      Chapter 11 Petition filed March 31, 2016
         See http://bankrupt.com/misc/flmb16-02797.pdf
         represented by: Annette C Escobar, Esq.
                         ASTIGARRAGA DAVIS MULLINS GROSSMAN
                         E-mail: aescobar@astidavis.com

In re Ankod Enterprise, LLC
   Bankr. S.D. Fla. Case No. 16-14706
      Chapter 11 Petition filed March 31, 2016
         See http://bankrupt.com/misc/flsb16-14706.pdf
         represented by: Chad T Van Horn, Esq.
                         VAN HORN LAW GROUP, P.A.
                         E-mail: Chad@cvhlawgroup.com

In re Rose C. Squires
   Bankr. N.D. Ind. Case No. 16-10667
      Chapter 11 Petition filed March 31, 2016
         represented by: Wesley N. Steury, Esq.
                         BURT, BLEE, DIXON, SUTTON & BLOOM LLP
                         E-mail: wsteury@burtblee.com

In re True Form, LLC
   Bankr. D. Md. Case No. 16-14213
      Chapter 11 Petition filed March 31, 2016
         See http://bankrupt.com/misc/mdb16-14213.pdf
         represented by: Bennie R. Brooks, Esq.
                         E-mail: bbrookslaw@aol.com

In re Jeffrey J. Andrews
   Bankr. D.N.H. Case No. 16-10449
      Chapter 11 Petition filed March 31, 2016
         Represented by: Eleanor Wm Dahar, Esq.
                         E-mail: edahar@att.net

In re Lawrence E Copenhefer
   Bankr. S.D. Ohio Case No. 16-30959
      Chapter 11 Petition filed March 31, 2016
         Represented by: Thomas H Lagos, Esq.
                         LAGOS & LAGOS PLL
                         E-mail: LAGOSTH@yahoo.com

In re Rozel Jeweler's, Inc.
   Bankr. W.D. Pa. Case No. 16-10291
      Chapter 11 Petition filed March 31, 2016
         See http://bankrupt.com/misc/pawb16-10291.pdf
         represented by: Daniel P. Foster, Esq.
                         FOSTER LAW OFFICES
                         E-mail: dan@mrdebtbuster.com

In re Buena Vista Plantation Corp.
   Bankr. D.P.R. Case No. 16-02426
      Chapter 11 Petition filed March 31, 2016
         See http://bankrupt.com/misc/prb16-02426.pdf
         represented by: Gerardo L Santiago Puig, Esq.
                         GSP LAW, PSC
                         E-mail: gsantiagopuig@gmail.com

In re 7711 Operating Company, LLC
   Bankr. N.D. Tex. Case No. 16-41274
      Chapter 11 Petition filed March 31, 2016
         See http://bankrupt.com/misc/txnb16-41274.pdf
         represented by: Eric A. Liepins, Esq.
                         ERIC A. LIEPINS, PC
                         E-mail: eric@ealpc.com

In re Frontline Recovery and Consulting, Inc.
   Bankr. S.D. Tex. Case No. 16-31568
      Chapter 11 Petition filed March 31, 2016
         See http://bankrupt.com/misc/txsb16-31568.pdf
         represented by: James Q. Pope, Esq.
                         THE POPE LAW FIRM
                         E-mail: ecf@thepopelawfirm.com

In re Success Is Yours Corp.
   Bankr. D. Md. Case No. 16-14175
      Chapter 11 Petition filed March 30, 2016
         See http://bankrupt.com/misc/mdb16-14175.pdf
         Filed Pro Se

In re All About Catering Co, LLC
   Bankr. D. Ariz. Case No. 16-03423
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/azb16-03423.pdf
         represented by: Richard A Drake, Esq.
                         DRAKE LAW FIRM PLC
                         E-mail: rdrake@bdlawyers.com

In re Carl Vernon and Serene Vernon
   Bankr. C.D. Cal. Case No. 16-11389
      Chapter 11 Petition filed April 1, 2016
         Represented by: John H Bauer, Esq.
                         FINANCIAL RELIEF LEGAL ADVOCATES INC.
                         E-mail: johnbhud@aol.com

In re Lumpy's, Inc.
   Bankr. C.D. Cal. Case No. 16-12957
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/cacb16-12957.pdf
         represented by: Thomas J Polis, Esq.
                         POLIS & ASSOCIATES, APLC
                         E-mail: ecf@polis-law.com

In re Lumpy's Pro Golf Discount, Inc.
   Bankr. C.D. Cal. Case No. 16-12958
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/cacb16-12958.pdf
         represented by: Thomas J Polis, Esq.
                         POLIS & ASSOCIATES, APLC
                         E-mail: ecf@polis-law.com

In re Mark Douglas Engel
   Bankr. M.D. Fla. Case No. 16-02843
      Chapter 11 Petition filed April 1, 2016
         Represented by: Buddy D. Ford, Esq.
                         E-mail: Buddy@TampaEsq.com

In re National Ceramics of Florida, Corp.
   Bankr. S.D. Fla. Case No. 16-14739
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/flsb16-14739.pdf
         represented by: David R. Softness, Esq.
                         DAVID R. SOFTNESS, PA
                         E-mail: david@softnesslaw.com

In re Julia Beall Passyn
   Bankr. D. Md. Case No. 16-14417
      Chapter 11 Petition filed April 1, 2016
         Represented by: Daniel Alan Staeven, Esq.
                         E-mail: dan@russacklaw.com

In re Michelle Prybyla
   Bankr. E.D. Mich. Case No. 16-44976
      Chapter 11 Petition filed April 1, 2016
         represented by: Michael P. DiLaura, Esq.
                         E-mail: miked@mikedlaw.com

In re GoldStar Solutions, LLC
   Bankr. W.D. Mo. Case No. 16-40843
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/mowb16-40843.pdf
         represented by: Colin N. Gotham, Esq.
                         EVANS & MULLINIX, PA
                         E-mail: Cgotham@emlawkc.com

In re Thompson's Mortuary, Inc.
   Bankr. W.D.N.C. Case No. 16-40139
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/ncwb16-40139.pdf
         represented by: Kerry L. Balentine, Esq.
                         MAXGARDNERLAW PLLC
                         E-mail: kbalentine@maxgardner.com

In re 37 Park Ridge LLC
   Bankr. D.N.J. Case No. 16-16328
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/njb16-16328.pdf
         represented by: Audwin Levasseur, Esq.
                         HARBATKIN LEVASSEUR PA

In re Armando Barrera-Ortiz
   Bankr. D. Nev. Case No. 16-11779
      Chapter 11 Petition filed April 1, 2016
         represented by: David A Riggi, Esq.
                         E-mail: darnvbk@gmail.com

In re G.B.H.Realty, LLC
   Bankr. S.D.N.Y. Case No. 16-35599
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/nysb16-35599.pdf
         represented by: Rosemarie E. Matera, Esq.
                         KURTZMAN MATERA, PC
                         E-mail: law@kmpclaw.com

In re Edward M. Schiller
   Bankr. W.D.N.Y. Case No. 16-10625
      Chapter 11 Petition filed April 1, 2016
         represented by: Daniel F. Brown, Esq.
                         ANDREOZZI, BLUESTEIN, WEBER, BROWN, LLP
                         E-mail: dfb@abfmwb.com

In re Kerry Dewayne Reed
   Bankr. W.D. Okla. Case No. 16-11237
      Chapter 11 Petition filed April 1, 2016
         represented by: Roland V. Combs III, Esq.
                         LAW FIRM OF ROLAND V. COMBS III & ASSOC
                         E-mail: rolandvcombs@sbcglobal.net

In re N & N Sub Corp.
   Bankr. D.P.R. Case No. 16-02596
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/prb16-02596.pdf
         represented by: Nilda M. Gonzalez Cordero, Esq.
                         GONZALEZ CORDERO LAW OFFICES
                         E-mail: ngonzalezc@ngclawpr.com

In re Subway Senorial Parana Corp.
   Bankr. D.P.R. Case No. 16-02597
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/prb16-02597.pdf
         represented by: Nilda M. Gonzalez Cordero, Esq.
                         GONZALEZ CORDERO LAW OFFICES
                         E-mail: ngonzalezc@ngclawpr.com

In re YA Y NS Sub, Corp.
   Bankr. D.P.R. Case No. 16-02598
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/prb16-02598.pdf
         represented by: Nilda M. Gonzalez Cordero, Esq.
                         GONZALEZ CORDERO LAW OFFICES
                         E-mail: ngonzalezc@ngclawpr.com

In re Charles Whitley Emerson, III
   Bankr. M.D. Tenn. Case No. 16-02339
      Chapter 11 Petition filed April 1, 2016
         represented by: Steven L. Lefkovitz, Esq.
                         LAW OFFICES LEFKOVITZ & LEFKOVITZ
                         E-mail: slefkovitz@lefkovitz.com

In re Hiren D. Patel and Nila H. Patel
   Bankr. E.D. Tex. Case No. 16-40592
      Chapter 11 Petition filed April 1, 2016
         represented by: Bill F. Payne, Esq.
                         E-mail: lgarner@moorefirm.com

In re Gregory George Jones
   Bankr. N.D. Tex. Case No. 16-41283
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/txnb16-41283.pdf
         represented by: Dennis Oliver Olson, Esq.
                         OLSON, NICOUD & GUECK, LLP
                         E-mail: denniso@dallas-law.com

In re Brent Lynn Bennett and Dawn Elise Bennett
   Bankr. N.D. Tex. Case No. 16-41303
      Chapter 11 Petition filed April 1, 2016
         See http://bankrupt.com/misc/txnb16-41303.pdf
         represented by: Areya Holder, Esq.
                         HOLDER LAW
                         E-mail: areya@holderlawpc.com

In re Jose Amando Trevino
   Bankr. S.D. Tex. Case No. 16-10091
      Chapter 11 Petition filed April 1, 2016
         represented by: Marcos Demetrio Oliva, Esq.
                         MARCOS D. OLIVA, PC
                         E-mail: marcos@olivalawfirm.com

In re Pogo's Autoworks, LLC
   Bankr. S.D. Ga. Case No. 16-40492
      Chapter 11 Petition filed April 3, 2016
         See http://bankrupt.com/misc/gasb16-40492.pdf
         represented by: Jon A. Levis, Esq.
                         MERRILL & STONE, LLC
                         E-mail: bkymail@merrillstonehamilton.com

In re Greater Bethlehem Missionary Baptist Church
   Bankr. N.D. Ill. Case No. 16-11470
      Chapter 11 Petition filed April 3, 2016
         See http://bankrupt.com/misc/ilnb16-11470.pdf
         represented by: Robert J Adams, Esq.
                         ROBERT J ADAMS & ASSOCIATES
                         E-mail: bankruptcy714@gmail.com

In re Malkhazi Mikadze
   Bankr. D.N.J. Case No. 16-16425
      Chapter 11 Petition filed April 3, 2016
         represented by: Harvey I. Marcus, Esq.
                         LAW OFFICE OF HARVEY I. MARCUS
                         E-mail: him@lawmarcus.com
In re N. L. Abrolat, Inc.
   Bankr. C.D. Cal. Case No. 16-14302
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/cacb16-14302.pdf
         represented by: Alan W Forsley, Esq.
                         E-mail: alan.forsley@flpllp.com

In re Moxy
   Bankr. N.D. Cal. Case No. 16-40896
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/canb16-40896.pdf
         represented by: Marc Voisenat, Esq.
                         LAW OFFICES OF MARC VOISENAT
                         E-mail: voisenatecf@gmail.com

In re Rio Construction Services, LLC
   Bankr. D. Colo. Case No. 16-13130
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/cob16-13130.pdf
         represented by: Aaron A Garber, Esq.
                         E-mail: aag@kutnerlaw.com

In re Kobe Restaurant Group LLC
   Bankr. N.D. Fla. Case No. 16-50103
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/flnb16-50103.pdf
         represented by: Robert C. Bruner, Esq.
                         E-mail: RobertCBruner@hotmail.com

In re Boca Pita Express, Inc
   Bankr. S.D. Fla. Case No. 16-14868
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/flsb16-14868.pdf
         represented by: Michael E Zapin, Esq.
                         E-mail: michaelEzapin@gmail.com

In re Christ Fellowship, Inc.
   Bankr. N.D. Ga. Case No. 16-10673
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/ganb16-10673.pdf
         represented by: J. Nevin Smith, Esq.
                         Smith Conerly LLP
                         E-mail: awilson@smithconerly.com

In re Live Green Communities, LLC
   Bankr. N.D. Ga. Case No. 16-55955
      Chapter 11 Petition filed April 4, 2016
         Filed Pro Se

In re Talmadge Holmes Ramsey, Jr.
   Bankr. S.D. Ga. Case No. 16-60149
      Chapter 11 Petition filed April 4, 2016
         represented by: Jon A. Levis, Esq.
                         MERRILL & STONE, LLC
                         E-mail: bkymail@merrillstonehamilton.com

In re M&R Charleston Station, Inc.
   Bankr. S.D. Ind. Case No. 16-90506
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/insb16-90506.pdf
         represented by: Neil C. Bordy, Esq.
                         SEILLER WATERMAN LLC
                         E-mail: bordy@derbycitylaw.com

In re Nosilla, Inc.
   Bankr. E.D.N.C. Case No. 16-01767
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/nceb16-01767.pdf
         represented by: Clayton W. Cheek, Esq.
                         THE LAW OFFICES OF OLIVER & CHEEK, PLLC
                         E-mail: clayton@olivercheek.com

In re YAMS, Inc.
   Bankr. D. Neb. Case No. 16-40533
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/neb16-40533.pdf
         represented by: Robert B. Creager, Esq.
                         ANDERSON, CREAGER & WITTSTRUCK, PC
                         E-mail: rcreager@acwlaw.com

In re Karobo, Inc.
   Bankr. D.N.J. Case No. 16-16443
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/njb16-16443.pdf
         represented by: Peter Petrou, Esq.
                         E-mail: Pete@PetrouLaw.com

In re Stefanie L. Cain Nikodem
   Bankr. N.D. Ohio Case No. 16-60682
      Chapter 11 Petition filed April 4, 2016
         represented by: Anthony J. DeGirolamo, Esq.
                         E-mail: ajdlaw@sbcglobal.net

In re DOM Properties, LLC
   Bankr. E.D. Pa. Case No. 16-12370
      Chapter 11 Petition filed April 4, 2016
         See http://bankrupt.com/misc/paeb16-12370.pdf
         represented by: Joshua Louis Thomas, Esq.
                         PETROFF LAW
                         E-mail: joshualthomas@gmail.com

In re Donald C. Vestal
   Bankr. N.D. Tex. Case No. 16-31397
      Chapter 11 Petition filed April 4, 2016
         represented by: Michael Wiss, Esq.
                         E-mail: mjwiss@hotmail.com

In re Gary Dean Rogers
   Bankr. W.D. Tex. Case No. 16-10404
      Chapter 11 Petition filed April 4, 2016
         represented by: Wayne Kitchens, Esq.
                         HUGHES WATTERS ASKANASE, LLP
                         E-mail: wkitchens@hwa.com


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2016.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***