TCR_Public/160506.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Friday, May 6, 2016, Vol. 20, No. 127

                            Headlines

181 WEST 135TH: Voluntary Chapter 11 Case Summary
2747 CAMELBACK: Case Summary & 20 Largest Unsecured Creditors
689 ST. MARKS: Voluntary Chapter 11 Case Summary
ADT CORP: Fitch Withdraws 'BB' Issuer Default Rating
ADT CORP: S&P Lowers CCR to 'B+' Then Withdraws Rating

AEROPOSTALE INC: Files Voluntary Chapter 11 Bankruptcy Petition
AEROPOSTALE INC: Meeting to Form Creditors' Panel Set for May 11
AMERICAN COMMERCE: Unit Obtains $5 Million Loan
AMERICAN EAGLE ENERGY: U.S. Trustee Wants Cases Converted to Ch. 7
AMERICAN POWER: "Coppa" Note Maturity Extended to Sept. 30

ANTERO ENERGY: Court Approves PLS as Trustee's Broker
ANTERO ENERGY: Energy Reserves Opposed Bid to Hire PLS as Broker
ANTERO ENERGY: Trustee Hires Cavazos Hendricks as Counsel
AOG ENTERTAINMENT: Meeting to Form Creditors' Panel Set for May 17
ARCH COAL: Asks Court to Dismiss ICG Knott's Ch. 11 Case

ARIA ENERGY: S&P Lowers CCR to 'B-', on CreditWatch Negative
ASSOCIATED MATERIALS: S&P Revises Outlook to Neg. & Affirms B- CCR
ATEBA RESOURCES: Delays Filing of Annual Financial Statements
ATLANTIC & PACIFIC: Enters Into Settlement With Wells Fargo
BALMORAL RACING: Wants to Sell Balmoral Track and Fixed Assets

BIND THERAPEUTICS: Meeting to Form Creditors' Panel Set for May 11
BIONITROGEN HOLDINGS: In Advanced Talks with Strategic Partners
BLUE RIBBON: Moody's Raises Corporate Family Rating to B1
CALPINE CORP: Moody's Rates Proposed $500MM Term Loan Ba2
CHC GROUP: Case Summary & 30 Largest Unsecured Creditors

CHC GROUP: Files for Bankruptcy Protection to Restructure Debt
CHRYSLER LLC: Indiana Barred from Using Experience Rating
COLOR LANDSCAPES: Court Official Announces Plan to Form Committee
CONGREGATION ACHPRETVIA: Withdraws Sale Motion
CROSSROADS INVESTORS: Court Affirms Order Denying Anti-SLAPP Bid

CUSTOM SOFTWARE: Wants Plan Filing Deadline Moved to Sept. 30
DEX MEDIA: S&P Lowers Rating on Debt to 'CC'
DOVER DOWNS: Incurs $239,000 Net Loss in First Quarter
EAST CLEVELAND, OH: Wants to File for Bankruptcy
ELBIT IMAGING: Appoints Yael Naftali as Chief Financial Officer

ENCLAVE AT HILLSBORO: Plan Confirmation Hearing on June 15
ENERGY FUTURE: Court Sets May 23 Hearing on New Plan Schedule
ENERGY FUTURE: Fee Committee Hires Benesch as Delaware Co-Counsel
EUBANKS EXCAVATING: U.S. Trustee Unable to Appoint Committee
EV ENERGY: Moody's Changes Prob. of Default Rating to Caa2-PD/LD

FAIRWAY GROUP: Moody's Lowers PDR to D-PD on Ch. 11 Filing
FAIRWAY GROUP: S&P Lowers CCR to 'D' on Chap. 11 Filing
FPMC SAN ANTONIO: Judge Orders Dismissal of Chapter 11 Case
FREEDOM COMMUNICATIONS: Judge Denies LMG's Bid to Turn Over Funds
FUHU INC: Judge Sets June 28 Deadline for Filing Claims

FUTURE HEALTHCARE: Reports $17,000 Net Income for First Quarter
GEORGIA PROTON: Seeks Dismissal of Involuntary Petition
GLOBAL GEOPHYSICAL: Bid to Transfer Bush Seismic Suit Denied
GOODMAN AND DOMINGUEZ: Court Extends Plan Exclusivity to Aug. 1
GRAFTECH INTERNATIONAL: S&P Affirms CCC+ Rating on $300MM Notes

GUESTLOGIX INC: Claims Bar Date Set for June 2
HAGGEN HOLDINGS: Court OKs Sale of Store No. 2096 to Thrifty
HANESBRANDS INC: Moody's Rates Proposed $1.5BB Sr. Notes Ba2
HIGH RIDGE MANAGEMENT: Court Extends Plan Exclusivity to May 31
HOLOGIC INC: Moody's Hikes Corporate Family Rating to 'Ba2'

HOVNANIAN ENTERPRISES: S&P Lowers CCR to 'CCC+'; Outlook Negative
IHEARTCOMMUNICATIONS INC: Enters Mediation with Creditors
IMPERIAL METALS: Moody's Affirms Caa1 CFR, Outlook Negative
IMS HEALTH: Moody's Puts Ba3 CFR Under Review for Upgrade
K.M. VILLAS: Asks Court to Extend Plan Exclusivity to July 1

KINEMED INC: Case Summary & 20 Largest Unsecured Creditors
LAZARD GROUP: Moody's Raises Subordinate Shelf Rating to Ba1
LG PROJECT 1: Voluntary Chapter 11 Case Summary
MAGNOLIA STATE SCHOOL: Court Extends Plan Exclusivity to June 30
MARTIN MARIETTA: Moody's Affirms Ba1 CFR, Outlook Positive

MASHBURN STORES: Asks Court to Extend Plan Exclusivity to July 25
MICHAEL KING: U.S. Trustee Object to Museum, Waterpark Sale
MOBILE MINI: Moody's Assigns B2 Corporate Family Rating
MPM HOLDINGS: To Unveil 1st Qtr 2016 Conference Call on May 10
NEON FINANCE: Moody's Assigns B2 CFR & Rates $630MM Loan B3

NEW TRIDENT: Moody's Affirms B3 Corporate Family Rating
NORANDA ALUMINUM: Seek Approval of Modified Severance Program
OCTAVIA HOMES: Voluntary Chapter 11 Case Summary
PACIFIC EXPLORATION: Seeks Colombia's Recognition of CCAA Cases
PALADIN ENERGY: 341 Meeting of Creditors Set for May 24

PASSAIC HEALTHCARE: Court OKs Sale of Assets to MedStar for $550K
PERMIAN HOLDINGS: Moody's Withdraws Caa1 Corporate Family Rating
PETROCHOICE HOLDINGS: New Business No Impact on Moody's B2 Rating
PINNACLE ENTERTAINMENT: Moody's Hikes Corp Family Rating to Ba3
POSTROCK ENERGY: Ch. 11 Trustee Proposes May 31 Auction

POSTROCK ENERGY: Trustee Wants Assets Sold Through Auction
QUALITY TEAM: Court Extends Plan Exclusivity to May 23
QUANTUM FUEL: Court Approves June 24 Auction for Assets
REAGAN HOSPITAL: Moody's Lowers Rating to Ba2
REPUBLIC AIRWAYS: Court Approves $75-Mil. Delta DIP Loan

REPUBLIC AIRWAYS: Deal Granting Delta's Claim for $170M Approved
REPUBLIC AIRWAYS: Equity Holders Appeal Delta Settlement Approval
RIENZI & SONS: Gets Approval to Resolve Banco Popolare Claim
ROVI CORP: Tivo Deal No Impact on Moody's Ba3 CFR
SANTA CRUZ BERRY: Creditors Drop Bid to Dismiss Case

SANTA CRUZ BERRY: Has Until June 15 to File Case vs. NAI
SETTLER'S GHOST: Receiver to Sell Principal Assets
SFX ENTERTAINMENT: Seek Approval of Beatport Asset Sale
SFX ENTERTAINMENT: Seeks Approval of Fame House Assets Sale
TECHPRECISION CORP: Unit Gets $3M Loan from People's Capital

TRI-G GROUP LLC: Case Summary & 20 Largest Unsecured Creditors
TRI-G GROUP: Court Official Announces Plan to Form Committee
TURNBERRY/MGM GRAND: Has Until Sept. 1 to Confirm Plan
VALEANT PHARMACEUTICALS: Moody's Confirms B2 CFR, Outlook Negative
VESTIS RETAIL: Court Set to Hear Bid to Conduct Store Closing Sale

VISUALANT INC: Extends Notes Due Date to June 2016
VULCAN MATERIAL: Moody's Hikes Corporate Family Rating to Ba1
WARREN RESOURCES: Needs More Time to Complete Item III of 10-K
WENATCHEE WASHINGTON: Moody's Affirms Ba1 Rating on GO Bonds
WILTON BRANDS: Moody's Affirms Caa1 CFR, Outlook Revised to Neg.

ZAFS INVESTMENTS: Court Extends Plan Exclusivity to Aug. 1
ZONE CONSTRUCTION: Wants Plan Exclusivity Extended to Aug. 30
ZUCKER GOLDBERG: Committee Seeks Extension of Challenge Period
[^] BOOK REVIEW: Risk, Uncertainty and Profit

                            *********

181 WEST 135TH: Voluntary Chapter 11 Case Summary
-------------------------------------------------
Debtor: 181 West 135th LLC
        c/o RRG 5 LLC
        1946 Coney Island Avenue
        Brooklyn, NY 11223

Case No.: 16-41960

Chapter 11 Petition Date: May 4, 2016

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

Judge: Hon. Nancy Hershey Lord

Debtor's Counsel: Arnold Mitchell Greene, Esq.
                  ROBINSON BROG LEINWAND GREENE & GLUCK P.C.
                  875 Third Avenue, 9th Floor
                  New York, NY 10022
                  Tel: (212) 603-6399
                  Fax: (212) 956-2164
                  E-mail: amg@robinsonbrog.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Samuel Kairy, member of RRG 5 LLC,
member and operating manager.

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


2747 CAMELBACK: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: 2747 Camelback, LLC
        300 Crescent Court, Suite 700
        Dallas, TX 75201

Case No.: 16-31846

Chapter 11 Petition Date: May 4, 2016

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

Judge: Hon. Harlin DeWayne Hale

Debtor's Counsel: Davor Rukavina, Esq.
                  MUNSCH, HARDT, KOPF & HARR, P.C.
                  500 N. Akard Street, Ste 3800
                  Dallas, TX 75201-6659
                  Tel: (214)855-7587
                  Fax: 214-978-5359
                  E-mail: drukavina@munsch.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $10 million to $50 million

The petition was signed by Scott Ellington, authorized signatory.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
NexBank, SSB                                          $37,114,274
2515 McKinney Ave.
Suite 1100
Dallas, TX 75201

Single Family Red.                   Agreement           $200,000
Neigh. Preserv. Inc.

Camelback 24th St.                   Agreement           $200,000

David Tierney                        Agreement           $200,000

Alexander Tauber                     Agreement           $200,000

Heather Litton                       Agreement           $200,000

Gregory Hintze                       Agreement           $200,000

Jasper Hawkins                       Agreement           $200,000

Jeffrey N. Fine                      Agreement           $200,000

Peter Drake                          Agreement           $200,000

Paul Barnes                          Agreement           $200,000

VSS Security Services                  Vendor              $5,623

Wessex Commercial Management           Vendor              $1,073

Sun State Lawn                         Vendor                $500

L.P. Rent-A-Fence, LLC                 Vendor                $356

All Pro Fence Company 2                Vendor                $270

Arizona MaintenancePro, LLC            Vendor                 $50

2608 East Highland Avenue LLC                                  $0

27 & 01 Property LLC                                           $0
& Cba-Re Holdings, LLC

2724 Camelback LLC                                             $0


689 ST. MARKS: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: 689 St. Marks Avenue, Inc.
        689 Saint Marks Avenue
        Brooklyn, NY 11216

Case No.: 16-41940

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 4, 2016

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

Judge: Hon. Elizabeth S. Stong

Debtor's Counsel: Eric H Horn, Esq.
                  VOGEL BACH & HORN, P.C.
                  1441 Broadway, STE 5031
                  New York, NY 10018
                  Tel: 212-242-8350
                  E-mail: ehorn@vogelbachpc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Frank Morris, president.

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


ADT CORP: Fitch Withdraws 'BB' Issuer Default Rating
----------------------------------------------------
Fitch Ratings has affirmed and withdrawn the Issuer Default Rating
(IDR) for The ADT Corporation (NYSE: ADT) at 'BB', the outstanding
senior secured notes at 'BB+/RR2' and the senior unsecured notes at
'BB/RR4'. The ratings have been removed from Rating Watch Negative
and assign a Stable Rating Outlook.

Fitch downgraded ADT's IDR to 'BB' and placed the ratings on Rating
Watch Negative on Feb. 17, 2016, following the announcement that
ADT will be acquired by an affiliate of certain funds (the Apollo
Funds) managed by affiliates of Apollo Global Management, LLC
(NYSE: APO). The acquisition was consummated on May 2, 2016.

Fitch is withdrawing the ratings of ADT because the company has
been taken private.

KEY RATING DRIVERS

ADT's ratings and Outlook reflect the company's strong brand
recognition, its national footprint and leading market position,
recurring revenue base and free cash flow (FCF) generation. The
ratings also incorporate emerging competition from non-traditional
security service providers and the company's high leverage
following the consummation of the acquisition of the company by the
Apollo Funds. Fitch estimates that leverage as measured by debt to
EBITDA was approximately 5.1x on a pro forma basis.

Acquisition by Apollo Funds

On May 2, 2016, ADT announced the successful completion of the
previously announced merger with Prime Security Services Borrower
LLC (Protection 1), an affiliate of the Apollo Funds. The combined
company has total annual revenues of about $4.2 billion including
$317 million of recurring monthly revenue. Based on management
estimates, the combined company will have about 30% market share in
the North American residential monitored security market.
Protection 1's robust commercial presence will also further enhance
ADT's capabilities in the commercial sector.

Increased Leverage

The acquisition of ADT by the Apollo Funds was funded with $1.555
billion of new first lien term loans, $3.14 billion of new second
lien loans, $750 million of preferred securities and $4.5 billion
of equity contribution from funds managed by Apollo.

ADT's $3.75 billion of senior unsecured notes that remain
outstanding are now guaranteed by Protection 1 and all wholly-owned
subsidiaries of the combined company and are secured by a first
priority interest in substantially all of the assets of the issuer
and guarantors. Protection 1's existing $1.095 billion first lien
term loan and $260 million second lien term loan also remain
outstanding.

Protection 1 also redeemed all of ADT's outstanding $750 million
2.25% senior unsecured notes due 2017 and $500 million 4.125%
senior unsecured notes due 2019 and repaid all outstanding
borrowings under ADT's revolving credit facility ($355 million as
of Dec. 31, 2015).

The combined company has total debt of about $10.5 billion,
including $6.4 billion of first lien debt, $3.4 billion of second
lien debt, and $750 million of preferred equity. Fitch estimates
that leverage as measured by debt to EBITDA was approximately 5.1x
(excluding any potential synergies from the transaction)on a
combined pro forma basis. Fitch expects leverage will be below 5.0x
by the end of 2016.

KEY ASSUMPTIONS

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

-- Low single-digit revenue growth through 2017;
-- EBITDA margins of 52%-55% during 2016 and 2017;
-- Debt to EBITDA settles just below 5.0x during 2016.

RATING SENSITIVITIES

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

FULL LIST OF RATING ACTIONS

The following ratings have been affirmed and withdrawn:

The ADT Corporation

-- Long-term IDR at 'BB';
-- $3.75 billion of senior notes (that remained outstanding and
    secured by first priority interest in substantially all of the

    assets of the issuer and guarantors) at 'BB+/RR2'.

The Rating Outlook is Stable.

Fitch has also withdrawn the following issuer ratings for ADT:

-- Unsecured revolving credit facility at 'BB/RR4';
-- $750 million 2.25% senior unsecured notes due 2017 and $500
    million 4.125% senior unsecured notes due 2019 at 'BB/RR4'.



ADT CORP: S&P Lowers CCR to 'B+' Then Withdraws Rating
------------------------------------------------------
S&P Global Ratings said that it lowered its corporate credit rating
on U.S.-based alarm monitoring company The ADT Corp. to 'B+' from
'BB-'.  S&P subsequently withdrew its corporate credit rating on
ADT.

S&P also withdrew its issue-level 'BB-' issue-level rating on the
company's 2.25% senior unsecured notes due July 2017 and 4.125%
senior unsecured notes due April 2019.

In addition, S&P affirmed its 'BB-' issue-level rating on ADT's
remaining five senior unsecured note issuances, which totaled $3.75
billion as of close of the merger, and revised the recovery rating
to '2' from '3'.  The '2' recovery rating indicates S&P's
expectation for substantial recovery (70%-90%; lower half of the
range) of principal in the event of a payment default.

"The rating actions follow the closing of the merger between ADT
and Prime Security Services Borrower LLC, a portfolio company of
Apollo Global Management LLC," said S&P Global Ratings credit
analyst Jenny Chang.  "In connection with the transaction, Prime
Security repaid ADT's outstanding 2.25% senior unsecured notes due
July 2017, 4.125% senior unsecured notes due April 2019, and all
borrowings under the revolving credit facility (unrated)."

ADT's remaining five senior unsecured note issues, which totaled
$3.75 billion as of closing, are guaranteed by Prime Security and
the combined company's wholly owned domestic subsidiaries, and
secured by first-priority security interests in substantially all
of obligor and the guarantors' assets.  As such, S&P expects that
the noteholders would realize substantial recovery in the event of
a payment default.

In connection with the transaction, ADT commenced a consent
solicitation from the remaining senior unsecured noteholders to
obtain a waiver of any potential "change of control triggering
event," including any potential obligation of ADT to make a "change
of control offer" in connection with the merger, and amended the
definition of "change of control."  The shareholders gave their
consent and the parties entered into a supplemental indenture dated
April 22, 2016.



AEROPOSTALE INC: Files Voluntary Chapter 11 Bankruptcy Petition
---------------------------------------------------------------
Aeropostale, Inc., on May 4 took the next steps in its ongoing
business transformation by filing voluntary petitions under Chapter
11 of the U.S. Bankruptcy Code in the United States Bankruptcy
Court for the Southern District of New York.  The Company expects
to use the Chapter 11 process to optimize its store footprint,
access additional tools to shed or renegotiate burdensome
contracts, resolve its ongoing disputes with Sycamore Partners and
achieve long-term financial stability.

The Company intends to emerge from the Chapter 11 process within
the next six months as a standalone enterprise with a smaller store
base, increased operating efficiencies and reduced SG&A expenses.
The Company is also continuing its previously announced sale
process to confirm that it is maximizing the value of its assets
and achieving the best possible outcome for stakeholders. Any
potential sale would be expected to be completed within the next
six months.

As part of this effort to position the Company for long-term
success, Aeropostale is reviewing its leases and other contracts to
ensure they are competitive with current market dynamics.  The
Company today announced an initial store closure list of 113 U.S.
locations, as well as all 41 stores in Canada.  Store closing sales
are scheduled to begin in the United States during the weekend of
May 7-8, 2016, and in Canada during the week of May 9, 2016.

"While initiatives such as the implementation of our two-chain
Factory and Mall strategy and our merchandise repositioning have
started to gain traction, the ripple effects of an ongoing dispute
with our second-largest supplier put substantial strain on our
liquidity while also preventing us from realizing the full benefits
of our turnaround plans.  As a result, we have chosen to take more
decisive and aggressive action to create a leaner, more efficient
business that is well-positioned to compete and succeed in today's
retail environment," said Julian Geiger, Chief Executive Officer.
"We appreciate the loyalty and support of our customers, employees
and business partners as we complete this process."

In conjunction with the Chapter 11 filings, Aeropostale secured a
commitment for $160 million in debtor-in-possession ("DIP")
financing provided by Crystal Financial LLC, which, combined with
operating cash flow, will allow Aeropostale to meet its go-forward
financial commitments.

The Company has also filed a series of motions that, pending Court
approval, will allow it to pay employee wages and benefits without
interruption, honor all gift cards in full, uphold the terms of its
international licensing agreements, and pay suppliers in the normal
course of business.  These motions are typical in the Chapter 11
process and are generally heard in the first days of the case.  The
Company separately expects to use provisions in the Bankruptcy Code
that require suppliers to meet the terms of their pre-existing
contracts.

Aeropostale is advised in this transaction by Weil, Gotshal &
Manges LLP, Stifel Financial Corp. and FTI Consulting.

                     About Aeropostale, Inc.

Aeropostale, Inc. is a specialty retailer of casual apparel and
accessories, principally serving young women and men through its
Aeropostale(R) and Aeropostale Factory(TM) stores and website and 4
to 12 year-olds through its P.S. from Aeropostale stores and
website.  The Company provides customers with a focused selection
of high quality fashion and fashion basic merchandise at compelling
values in an exciting and customer friendly store environment.
Aeropostale maintains control over its proprietary brands by
designing, sourcing, marketing and selling all of its own
merchandise.  As of May 1, 2016 the Company operated 739
Aeropostale(R) stores in 50 states and Puerto Rico, 41 Aeropostale
stores in Canada and 25 P.S. from Aeropostale(R) stores in 12
states.  In addition, pursuant to various licensing agreements, the
Company's licensees currently operate 322 Aeropostale(R) and P.S.
from Aeropostale(R) locations in the Middle East, Asia, Europe, and
Latin America.  Since November 2012, Aeropostale, Inc. has operated
GoJane.com, an online women's fashion footwear and apparel
retailer.


AEROPOSTALE INC: Meeting to Form Creditors' Panel Set for May 11
----------------------------------------------------------------
William K. Harrington, United States Trustee for Region 2, will
hold an organizational meeting on May 11, 2016, at 10:00 a.m. in
the bankruptcy case of AEROPOSTALE, INC., et al.

The meeting will be held at:

         United States Bankruptcy Court
         One Bowling Green, Room 511
         New York, NY 10004

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

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

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee. Section 1103 of the
Bankruptcy Code provides that the Committee may consult with the
debtor, investigate the debtor and its business operations and
participate in the formulation of a plan of reorganization.  The
Committee may also perform other services as are in the interests
of the unsecured creditors whom it represents.



AMERICAN COMMERCE: Unit Obtains $5 Million Loan
-----------------------------------------------
American Commerce Solutions, Inc., announced that its wholly-owned
subsidiary, Best Way Auto and Truck Rental, Inc., has received an
additional $5 million Line of Credit for inventory at multiple new
locations.

According to Daniel L. Hefner, president and CEO of the Company,
"Fleet Way Leasing has shown great confidence in the Best Way
management team and helped to continue the company's rapid growth
rate by providing funding for an additional 180 vehicles."

Best Way President, John Keena, commented, "This additional
Inventory will be a catalyst to the rental sales department of our
rewards program which credits each rental dollar spent to become
part of a down payment for a purchase.  Financing will be provided
by the Company for up to 72 months.  Best Way has also filed
application for a patent with the United States Patent and Trade
Mark Office for its unique buyer's reward program."

The $5M Line of Credit from Fleet Way Leasing Company in
Feasterville, PA will bring in about 180 new Hyundai and Nissan
rental vehicles for the new locations scheduled to open in May.
Best way is expanding rapidly and plans to have 14 locations open
by the year end.

Best Way management has positioned the company to be a dominating
force in the rental car business.  With the unique programs offered
to first time buyers and locations catering to college students,
Best Way believes that its niche market will allow Best Way to
thrive in the years ahead.

                        About American Commerce

American Commerce Solutions, Inc., headquartered in Bartow,
Florida, is primarily a holding company with one wholly owned
subsidiary; International Machine and Welding, Inc., is engaged in
the machining and fabrication of parts used in heavy industry, and
parts sales and service for heavy construction equipment.

American Commerce reported a net loss of $130,000 for the year
ended Feb. 28, 2015, compared to a net loss of $169,000 for the
year ended Feb. 28, 2014.  As of Nov. 30, 2015, the Company had
$4.77 million in total assets, $3.20 million in total liabilities
and $1.56 million in total stockholders' equity.

Messineo & Co., CPAs LLC, in Clearwater, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Feb. 28, 2015, citing that the Company has recurring
losses resulting in an accumulated deficit and is in default of
several notes payable.  These conditions raise substantial doubt
about its ability to continue as a going concern.


AMERICAN EAGLE ENERGY: U.S. Trustee Wants Cases Converted to Ch. 7
------------------------------------------------------------------
Patrick S. Layng, United States Trustee, asks the U.S. Bankruptcy
Court for the District of Colorado to convert the Chapter 11 cases
of American Eagle Energy Corporation and AMZG, Inc., to Chapter 7.

"Cause exists to convert this case...  Because the Debtors are not
operating and not generating revenue, but are accruing substantial
administrative expenses, there has been and continues to be a
substantial or continuing loss to or diminution of the estates and
an absence of a reasonable likelihood of reorganization, which is
cause for dismissal or conversion...  The estates lost $1,688,000
in February 2016 alone and professional fees will continue to
accrue...  In this case, conversion to chapter 7 appears to be in
the best interests of creditors and the estates.  Given that the
Debtors are not operating and given that all assets other than
avoidance actions are encumbered, it does not appear likely that
creditors will receive a significant recovery on their claims
outside of bankruptcy.  On the other hand, if these cases were
converted to chapter 7, a trustee could investigate avoidance
actions and, if appropriate, pursue them for the benefit of
creditors and the estates. In addition, claimants entitled to
administrative priority would continue to enjoy priority upon
conversion, in contrast to dismissal," the U.S. Trustee avers.

The Official Committee of Unsecured Creditors had previously asked
the Court to convert the bankruptcy cases to Chapter 7.
Halliburton Energy Services, Inc., et al., joined in the Official
Committee's Motion.

Halliburton Energy Services, Inc., et al., are represented by:

          Charles Greenhouse, Esq.
          MOYE WHITE LLP
          1400 16th Street, 6th Floor
          Denver, CO 80202-1486
          Telephone: (303)292-2900
          Facsimile: (303)292-4510
          E-mail: charles.greenhouse@moyewhite.com

                - and -

          Carl Dore, Jr., Esq.
          DORE LAW GROUP, P.C.
          17171 Park Row, Suite 160
          Houston, TX 77084
          Telephone: (281)829-1555
          Facsimile: (281)200-0751
          E-mail: carl@dorelawgroup.net

Calfrac Well Services, Corp., et al., are represented by:

          Duncan E. Barber, Esq.
          BIEGING SHAPIRO & BARBER LLP
          4582 S. Ulster St. Pkwy, Suite 1650
          Denver, CO 80237
          Telephone: (720)488-0220
          Facsimile: (720)488-7711
          E-mail: dbarber@bsblawyers.com

Patrick S. Layng, United States Trustee, is represented by:

          Alan K. Motes, Esq.
          1961 Stout Street, Suite 12-200
          Denver, CO 80294
          Telephone: (303)312-7999
          Facsimile: (303)312-7259
          E-mail: Alan.Motes@usdoj.gov

              About American Eagle Energy Corporation

Littleton, Colorado-based American Eagle Energy Corporation is
engaged in the acquisition, exploration and development of oil and
gas properties.  The Company is primarily focused on extracting
proved oil reserves from those properties.

American Eagle Energy Corporation and its wholly-owned subsidiary,
AMZG, Inc., filed on May 8, 2015, voluntary petitions (Bankr. D.
Colo., Case No. 15-15073).  The case is assigned to Judge Howard R.
Tallman.  The Debtors are represented by Elizabeth A. Green, Esq.,
at Baker & Hostetler LLP, in Orlando, Florida.

On May 13, 2015, Judge Tallman granted the Debtors' request for
joint administration.

American Eagle Energy disclosed total assets of $21,980,687 and
total liabilities of $193,604,113 as of the Chapter 11 filing.

The U.S. Trustee for Region 6 appointed seven creditors to serve on
the Official Committee of Unsecured Creditor.  The Committee tapped
Pachulski Stang Ziehl & Jones LLP as counsel, and Conway Mackenzie
as financial advisor.


AMERICAN POWER: "Coppa" Note Maturity Extended to Sept. 30
----------------------------------------------------------
American Power Group Corporation disclosed with the Securities and
Exchange Commission that it entered into an amendment to an
existing promissory note with Charles Coppa.  The amendment
extended the maturity date of the promissory note to Sept. 30,
2016.

The Company has previously issued the Promissory Note to the Holder
and amended the Promissory Note on April 27, 2012, April 30, 2014,
Sept. 24, 2014, and again on Sept. 30, 2015;

                   About American Power Group

American Power Group's alternative energy subsidiary, American
Power Group, Inc., provides a cost-effective patented Turbocharged
Natural Gas conversion technology for vehicular, stationary and
off-road mobile diesel engines.  American Power Group's dual fuel
technology is a unique non-invasive energy enhancement system that
converts existing diesel engines into more efficient and
environmentally friendly engines that have the flexibility to run
on: (1) diesel fuel and liquefied natural gas; (2) diesel fuel and
compressed natural gas; (3) diesel fuel and pipeline or well-head
gas; and (4) diesel fuel and bio-methane, with the flexibility to
return to 100 percent diesel fuel operation at any time.  The
proprietary technology seamlessly displaces up to 80% of the
normal diesel fuel consumption with the average displacement
ranging from 40 percent to 65 percent.  The energized fuel balance
is maintained with a proprietary read-only electronic controller
system ensuring the engines operate at original equipment
manufacturers' specified temperatures and pressures.  Installation
on a wide variety of engine models and end-market applications
require no engine modifications unlike the more expensive invasive
fuel-injected systems in the market.  Additional information at
http://www.americanpowergroupinc.com/        

For the 12 months ended Sept. 30, 2015, the Company reported a net
loss available to common shareholders of $1.04 million on $2.95
million of net sales compared to a net loss available to common
shareholders of $920,000 on $6.28 million of net sales for the 12
months ended Sept. 30, 2014.

As of Sept. 30, 2015, American Power had $11.12 million in total
assets, $11.34 million in total liabilities and a total
stockholders' deficit of $226,217.


ANTERO ENERGY: Court Approves PLS as Trustee's Broker
-----------------------------------------------------
Jeffrey H. Mims, the Chapter 11 Trustee of Antero Energy Partners,
LLC, sought and obtained permission from the U.S. Bankruptcy Court
for the Northern District of Texas to retain PLS, Inc. as broker to
the Trustee.

In February 2016, the Bankruptcy Court approved the employment and
retention of PLS by the bankruptcy estate of AIX Energy, Inc. (Case
No. 15-34245). The Antero Case Trustee and the Chapter 11 Trustee
for AIX Energy, Inc., along with other interested parties, agree
that selling the operated working interest assets of both estates
together is in the best interest of the creditors of both this
bankruptcy estate and the AIX Energy, Inc. bankruptcy estate.

The Trustee requires PLS to market and sell certain operated
working interest assets of the estate.

To the best of the Trustee's 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.

PLS can be reached at:

     Ronyld Wise
     PLS INC.
     One Riverway, Suite 2500
     Houston, TX 77056
     Tel: (713) 650-1212

                        About Antero Energy

Antero Energy Partners, LLC, filed a Chapter 11 petition (Bankr.
N.D. Tex. Case No. 16-30308) in Dallas on Jan. 25, 2016. Judge
Stacey G. Jernigan is assigned to the case. The Debtor tapped Keith
William Harvey, Esq., at The Harvey Law Firm, P.C., as counsel. The
Debtor estimated $10 million to $50 million in assets and debt.


ANTERO ENERGY: Energy Reserves Opposed Bid to Hire PLS as Broker
----------------------------------------------------------------
Energy Reserves Group LLC filed with the U.S. Bankruptcy Court for
the Northern District of Texas its objection to the request of
Jeffrey H. Mims, the Chapter 11 Trustee of Antero Energy Partners,
LLC, for authority to retain PLC Inc. as broker to the Trustee.

ERG objects to PLS's proposed fee structure. PLS proposed Exclusive
Agency and Marketing Agreement provides that PLS will "earn" a
2.25% commission on the Total Transaction Value.  The Total
Transaction Value includes "any credit bid of the Secured Parties
Debt". The Marketing Agreement further provides that the Secured
Creditor (as opposed to the seller, Antero) will have to pay the
2.25% commission in the event of a Credit Bid and subsequent sale.

ERG has procured an Expert Report prepared by Kenneth J. Mueller,
P.E. of Cawley, Gillespie & Associates, Inc. dated February 9,
2016, which evidences that $11,480,100 is a reasonable "estimate of
reserves and forecast of economics" attributable to Antero's proved
developed producing properties utilizing NYMEX strip pricing as of
February 1, 2016.

ERG also has procured an Expert Report prepared by Northland
Capital Markets dated February 9, 2016, which evidences that
$9,000,000 to $12,500,000 is "the likely range of value" for the
Antero oil and gas properties.

Based on the Cawley Expert Report and the Northland Expert Report,
and Creditor's own analysis, Creditor strongly believes that the
highest bid that will be procured by PLS in the sale of the Antero
oil and gas properties is less than $12,500,000 or half of the
first lien debt burdening the Antero oil and gas properties.

ERG said its own credit bid is the only likely way in which the
Antero oil and gas properties will be sold under a 363 sale.

ERG said it is acquiescing to the bid process to demonstrate to the
Bankruptcy Court and to the Trustee the Market's extremely low
valuation of the Antero oil and gas properties. That value will be
the highest approved bid, excluding Creditor's credit bid. Again
likely under $12,500,000.

ERG argued that it should not have to pay PLS between $200,000 and
$562,000 for the pleasure of buying its own collateral due to PLS'
failure to procure third party bids over $25,500,000.

If PLS does not believe that the Antero oil and gas properties will
fetch over $25,500,000 in legitimate third party bids, and is
unwilling to take the risk of not making a commission, then it
should not take on this assignment. That refusal alone with verify
that the Antero oil and gas properties are woefully underwater as
to the first lien debt.

PLS's fee of 2.25% flat is out of market standard. PLS should only
earn the following fee with regard to a third party sale:

   Sales Price:                   Commission

       Less than $1,000,000           3%

       $1,000,000 - $3,000,000        2%

       Greater than $3,000,000        1%

The Creditor is represented by:

     Leonard H. Simon, Esq.
     PENDERGRAFT & SIMON, LLP
     2777 Allen Parkway, Suite 800
     Houston, TX 77019
     Tel. (713) 528-8555
     Fax. (713) 868-1267
     E-mail: lsimon@pendergraftsimon.com

                        About Antero Energy

Antero Energy Partners, LLC, filed a Chapter 11 petition (Bankr.
N.D. Tex. Case No. 16-30308) in Dallas on Jan. 25, 2016. Judge
Stacey G. Jernigan is assigned to the case. The Debtor tapped Keith
William Harvey, Esq., at The Harvey Law Firm, P.C., as counsel. The
Debtor estimated $10 million to $50 million in assets and debt.


ANTERO ENERGY: Trustee Hires Cavazos Hendricks as Counsel
---------------------------------------------------------
Jeffrey H. Mims, the Chapter 11 Trustee of Antero Energy Partners,
LLC, seeks authority from the U.S. Bankruptcy Court for the
Northern District of Texas to employ Cavazos Hendricks Poirot &
Smitham, P.C. as counsel to the Trustee.

A hearing to approve the Trustee's request was held May 5, 2016.

The Trustee requires Cavazos Hendricks to:

   a. advise and consult with the Trustee regarding marketing and
      selling property of the estate, including certain oil and
      gas interests;

   b. advise and consult with the Trustee regarding the
      evaluation of litigation claims;

   c. advise and consult with the Trustee concerning questions
      arising in the conduct of the administration of the estate
      and concerning the Trustee's rights and remedies with
      regard to the estate's assets and the claims of secured,
      preferred and unsecured creditors and other parties in
      interest;

   d. appear for, prosecute, defend and represent the Trustee's
      interest in suits arising in or related to this case;

   e. assist in the preparation of such pleadings, motions,
      notices and orders as are required for the orderly
      administration of this estate; and

   f. investigate what means may be necessary to preserve certain
      property rights owned by the estate and to determine and
      take all necessary and reasonable actions for the
      preservation and/or liquidation of such assets where
      necessary.

Cavazos Hendricks will be paid at these hourly rates:

     Attorneys               $220-$500
     Paraprofessional        $100-$130

Cavazos Hendricks's estimated fees will range from $10,000 to
$50,000.

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

Charles B. Hendricks, a shareholder in the law firm of Cavazos
Hendricks Poirot & Smitham, P.C., 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.

Cavazos Hendricks can be reached at:

     Charles B. Hendricks, Esq.
     CAVAZOS HENDRICKS POIROT & SMITHAM, P.C.
     Suite 570, Founders Square
     900 Jackson Street
     Dallas, TX 75202
     Tel: (214) 573-7302
     Fax: (214) 573-7399
     E-mail: chuckh@chfirm.com

                     About Antero Energy

Antero Energy Partners, LLC, filed a Chapter 11 petition (Bankr.
N.D. Tex. Case No. 16-30308) in Dallas on Jan. 25, 2016. Judge
Stacey G. Jernigan is assigned to the case. The Debtor tapped Keith
William Harvey, Esq., at The Harvey Law Firm, P.C., as counsel. The
Debtor estimated $10 million to $50 million in assets and debt.


AOG ENTERTAINMENT: Meeting to Form Creditors' Panel Set for May 17
------------------------------------------------------------------
William K. Harrington, United States Trustee for Region 2, will
hold an organizational meeting on May 17, 2016, at 10:30 a.m. in
the bankruptcy case of AOG Entertainment, Inc., et al.

The meeting will be held at:

         United States Bankruptcy Court
         One Bowling Green, Room 511
         New York, NY 10004

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

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

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.



ARCH COAL: Asks Court to Dismiss ICG Knott's Ch. 11 Case
--------------------------------------------------------
Arch Coal, Inc., and its subsidiaries ask the U.S. Bankruptcy Court
for the Eastern District of Missouri, Eastern Division, to dismiss
Debtor ICG Knott County, LLC. light of the closing of the sale and
transfer of the membership interests of Debtor Arch Coal, Inc., and
Debtor ICG, Inc., in Debtor ICG Knott County, LLC, to Quest Energy
Inc., pursuant to a Membership Interest Purchase Agreement.

According to the Debtors, it is important for the Selling Debtors
and the Purchaser that the Sold Debtor Case be dismissed promptly
after the closing of the Knott County Sale, which occurred on April
12, 2016.  The Purchaser does not wish to purchase assets that will
remain subject to the ongoing bankruptcy process or the claims of
creditors with respect to the Knott County Assets, the Debtors tell
the Court.  If the Sold Debtor remains in these chapter 11
proceedings after being sold to the Purchaser, its estate would be
subject to "substantial or continuing loss" due to its reclamation
obligations and its continuing operating costs, which are
substantial and do not support any significant value-generating
activities for the Selling Debtors, the Debtors further tell the
Court.

The Debtors are represented by Lloyd A. Palans, Esq., Marshall S.
Huebner, Esq., Brian M. Resnick, Esq., Michelle M. McGreal, Esq.,
and Kevin J. Coco, Esq., at Davis Polk, in New York; and Brian C.
Walsh, Esq., Cullen K. Kuhn, Esq., and Laura Uberti Hughes, Esq.,
at Bryan Cave LLP, in St. Louis, Missouri.

                         About Arch Coal

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

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

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

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

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


ARIA ENERGY: S&P Lowers CCR to 'B-', on CreditWatch Negative
------------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating and senior
secured debt rating on Aria Energy Operating LLC to 'B-' from 'B'
and placed it on CreditWatch with negative implications.

The '3' recovery rating on this debt is unchanged and indicates
expectations for meaningful (50%-70%, lower half of the range)
recovery if a payment default occurs.

"Aria Energy Operating LLC has posted financial results that were
materially below our expectations," said S&P Global Ratings credit
analyst Geoffrey Mrema.  The company has also recently replaced its
chief financial officer.  In light of the significant negative
performance variance relative to budget and the recent management
departure, S&P has revised its assessment of Aria's management and
governance to weak from fair.  In S&P's view, management departures
such as this one are usually not credit supportive.

During the third quarter of 2015 Aria experienced numerous
operational challenges that have negatively affected cash flow and
resulted in leverage measures that are well above S&P's
expectations.  S&P estimates that financial measures will be
significantly weaker with debt to EBITDA at about 8.9x and funds
from operations (FFO) to debt of 5.2% at year-end 2015.  These
numbers do not reflect debt to EBITDA according to Aria's financial
covenant calculations.  S&P views some elements of the decline in
volumes as one-time and unlikely to repeat.  While S&P anticipates
production volumes to improve in 2016, S&P believes that the
leverage metrics will remain stressed beyond our initial
expectations, potentially contributing to an unsustainable capital
structure.

To resolve the CreditWatch, S&P will reassess its financial
forecasts for the company, in light of current market conditions,
recent operating performance, and the recent CFO departure.  S&P
will seek to determine if its capital structure remains sustainable
and if there is risk of liquidity constraints.



ASSOCIATED MATERIALS: S&P Revises Outlook to Neg. & Affirms B- CCR
------------------------------------------------------------------
S&P Global Ratings said it revised its rating outlook on Associated
Materials LLC to negative from stable and affirmed the 'B-'
corporate credit rating on the company.

Associated Material's $830 million senior secured notes have a '4'
recovery rating, indicating S&P's expectation for average (30% to
50%; lower half of the range) recovery in the event of default. The
issue-level rating is 'B-', in line with the 'B-' corporate credit
rating on the company and our notching guidelines for a '4'
recovery rating.

"Our outlook revision to negative from stable reflects the risk
that Associated Material's liquidity would become constrained and
the potential for default would increase if the company does not
refinance its maturing notes in the second half of 2016, said S&P
Global Ratings credit analyst Kimberly Garen.

A downgrade would be likely within the next six to 12 months if the
company does not secure refinancing for its existing senior secured
notes due in November 2017.  If the company does not complete a
refinancing in the second half of August 2016, S&P will likely
lower the rating to the 'CCC' category because the company will be
within one year of maturity of the notes and a potential August
2017 maturity of the ABL facility.  In addition, liquidity will be
reassessed and deemed at best less than adequate as S&P do not
project the company will have the liquidity to meet its maturing
obligations absent a refinance or restructuring.

S&P would likely revise the outlook to stable if a successful
refinancing of the notes takes place which addresses the upcoming
maturity and eliminates any potential liquidity constraints.



ATEBA RESOURCES: Delays Filing of Annual Financial Statements
-------------------------------------------------------------
Ateba Resources Inc. on May 4 disclosed that it is late in filing
its annual financial statements and management discussion and
analysis ("MD&A") for the year ended December 31, 2015, on the
prescribed deadline of April 29, 2016.

The Company has made an application with the applicable securities
regulators under National Policy 12-203 - Cease Trade Orders for
Continuous Disclosure Defaults ("NP 12-203") requesting that a
management cease trade order be imposed in respect of this late
filing rather than an issuer cease trade order, but there is no
assurance that it will be granted.  The issuance of a management
cease trade order generally does not affect the ability of persons
who have not been directors, officers or insiders of the Company to
trade in their securities.

The Company has been unable to complete the required filings due to
a lack of capital to complete its audit and the Company required
additional time to raise sufficient capital to complete its annual
financial statements, MD&A and audit.  The Company has retained
auditors to complete the audit.

The Company is in discussions with a potential purchaser in
connection with a proposed asset sale transaction involving the
Company's various mineral properties.  The Company anticipates the
annual financial statements and MD&A will be filed on or prior to
May 31, 2016.

The Company confirms that it will satisfy the provisions of the
alternative information guidelines under NP 12-203 by issuing
bi-weekly default status reports in the form of news releases for
so long as it remains in default of the filing requirements to file
its financial statements and MD&A within the prescribed period of
time.  The Company confirms that there is no other material
information relating to its affairs that has not been generally
disclosed.

Ateba Resources Inc. is a Canada-based exploration-stage company.
The Company is a junior exploration company engaged in the
acquisition and exploration of mineral properties with interests in
both gold and uranium.


ATLANTIC & PACIFIC: Enters Into Settlement With Wells Fargo
-----------------------------------------------------------
The Great Atlantic & Pacific Tea Company, Inc., et al., their
Official Committee of Unsecured Creditors, and Wells Fargo Bank,
National Association, as Prepetition Term Loan Agent, submitted
with the U.S. Bankruptcy Court for the Southern District of New
York, their Stipulation of Settlement.

The Parties relate that in order to avoid the necessity for the
Official Committee to assert or prosecute a Challenge, the Official
Committee and the Prepetition Term Loan Agent have entered into the
Stipulation of Settlement, to resolve all claims and other
Challenge rights of the Committee against the Prepetition Term Loan
Agent or any Prepetition Term Loan Lender.

The Stipulation of Settlement contains, among others, the following
relevant terms:

     (1) Allowance of Applicable Prepayment Fee:  Subject to the
terms and conditions of the Stipulation, the Debtors, the Official
Committee, and the Prepetition Term Loan Agent agree and
acknowledge that the aggregate amount of $4,258,075 of the
Applicable Prepayment Fee is the property of the Prepetition Term
Loan Agent and Prepetition Term Loan Lenders, is duly owed by the
Debtors to the Prepetition Term Loan Agent and the Prepetition Term
Loan Lenders without defense, counterclaim, offset or dispute of
any kind, nature or description whatsoever and is entitled to all
of the rights, liens, priorities and protections available under
the Prepetition Term Loan Agreement, the Prepetition Term Loan
Facility, the Final DIP Order and applicable law.

     (2) Settlement of Term Loan Payoff Matters: Subject to the
terms and conditions contained in the Stipulation, in full and
final settlement of all claims and causes of action that the
Committee, the Debtors or any other party in the Debtors'
bankruptcy cases may at any time have against the Prepetition Term
Loan Agent or any Prepetition Term Loan Lender arising from or
related to the Term Loan Payoff Matters or the Prepetition Term
Loan Facility, the Prepetition Term Loan Agent and the Prepetition
Term Loan Lenders agree to forever waive, release and extinguish
their rights, claims and liens against the balance of the Term Loan
Escrow Amount equal to $4,929,425 ("Settlement Payment"). On the
Effective Date of the Stipulation, the Escrow Agent will
irrevocably transfer to the Debtors (i) the Settlement Payment and
(ii) the Legal Fee Reserve less any unpaid reasonable attorneys'
fees incurred by the Prepetition Term Loan Agent, which will be
promptly transferred to counsel for the Prepetition Term Loan
Agent.

The Great Atlantic & Pacific Tea Company, Inc., and its affiliated
debtors are represented by:

          Ray C. Schrock, Esq.
          Garrett A. Fail, Esq.
          WEIL, GOTSHAL & MANGES LLP
          767 Fifth Avenue
          New York, NY 10153
          Telephone: (212)310-8000
          Facsimile: (212)310-8007
          E-mail: ray.schrock@weil.com
                  garrett.fail@weil.com   

The Official Committee of Unsecured Creditors is represented by:

          Robert J. Feinstein, Esq.
          Bradford J. Sandler, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          780 Third Avenue, 34th Floor
          New York, NY 10017
          Telephone: (212)561-7700
          Facsimile: (212)561-7777
          E-mail: rfeinstein@pszjlaw.com
                  bsandler@pszjlaw.com

Wells Fargo Bank, National Association, as Agent for the Term Loan
Secured Parties, is represented by:

          Jonathan N. Helfat, Esq.
          OTTERBOURG P.C.
          230 Park Avenue
          New York, NY 10169
          Telephone: (212)905-3626
          Facsimile: (212)682-6104
          E-mail: jhelfat@otterbourg.com

                     About Atlantic & Pacific

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

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

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

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

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

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


BALMORAL RACING: Wants to Sell Balmoral Track and Fixed Assets
--------------------------------------------------------------
Balmoral Racing Club, Inc. and Maywood Park Trotting Association,
Inc. ask the U.S. Bankruptcy Court for the Northern District of
Illinois, Eastern Division, to authorize the sale of real estate
owned by Balmoral located in Crete, Illinois ("Balmoral Track"),
and the Debtors' personal property located and previously used in
connection with, Balmoral's business operations at the Balmoral
Track.

"The auctioneers opened online bidding for Balmoral's tangible
personal property on April 20, 2016.  The Debtors received on April
27, 2016, the highest and best offer for the Balmoral Track and
related tangible personal property.  Within the subsequent 24
hours, the Balmoral personal property auction separately finished
accepting offers on a lot by lot basis.  The Debtors seek court
approval of the purchase offer for the Balmoral real and personal
property, combined. If court approval is not obtained, or if such
sale does not close, the Debtors (through their auctioneers) will
complete the lot by lot sale of the Balmoral personal property and
continue to market the Balmoral Track," the Debtors aver.

The Debtors contend that the Buyer, HITS, Inc., also known as
Horses in the Sun, produces high-quality, international-level
hunter/jumper horse shows.  They further contend that the Buyer may
be uniquely suited to purchase the Sale Assets in light of the lack
of offers from parties seeking to operate the Balmoral Track as a
horse track.  The Debtors tell the Court that the Buyer's offer
presents an opportunity to maintain going concern operations at
Balmoral Park, albeit in a different business, which is not
possible in a pure liquidation.

The principal terms of the proposed sale under the Asset Purchase
Agreement, among others, are as follows:

     (a) Purchase Price: Buyer will pay the sum of $1,600,000 for
the Sale Assets.  The Purchase Price will be allocated as follows:
the Fixed Asset Value ($769,932) will be allocated to the Fixed
Assets, and the remainder ($830,068) will be allocated to the real
property.

     (b) Earnest Money and Payment of Purchase Price: An earnest
money deposit of $200,000 is required under the APA, and has been
received in the IOLTA account maintained by the Debtors' attorneys.
The Purchase Price will be paid in full at the closing, subject to
pro-rations standard for real estate closings in Illinois.

     (c) Title: Title will be conveyed at the closing by special
warranty deed and quitclaim bill of sale, free and clear of all
liens, claims, interests and encumbrances as provided by the sale
order.

     (d) Condition of Sale Assets: The Sale Assets will be
transferred on an "as is", "where is" basis with all faults.

     (e) Closing Date: The closing will occur on or before May 13,
2016.

The Debtors relate that because the APA requires a sale of both the
Balmoral Track and the Fixed Assets, the Debtors and the Buyers
request the following relief, among other provisions necessary to
close the proposed sale pursuant to the APA:

     (a) Notwithstanding anything to the contrary in the Broker
Order or the Retention Agreement, the Broker will be entitled to
receive at closing a Broker Fee of 4.5% of the Real Property
Value.

     (b) Notwithstanding anything to the contrary in the Auctioneer
Order or the Consulting Agreement, the Auctioneers will be entitled
to receive a 15% Buyer's Premium based on the Fixed Asset Value,
and either a full or prorated "Base Fee" of $75,000.00, to be
determined based on the success of the auction of Maywood's
personal property and continued negotiations with the Debtors and
Judgment Creditors.

     (c) The Debtors will indemnify and hold harmless the Broker
and the Auctioneers for any claim, damages, liabilities or causes
of actions arising out of or related to the Debtors' decision to
sell the Fixed Assets to the Buyer in one single lot as part of the
APA.

     (d) The Sale Order will effectively modify the Broker Order
and the Auctioneer Order to the extent the necessary to carry out
the terms of the proposed sale as provided in the APA and the Sale
Order, and will supersede the authority granted to the Auctioneer
to sell the Fixed Assets provided in the Auctioneer Order.

The Debtors aver that the proposed sale to the Buyer represents the
highest and best offer available for the Sale Assets.  They further
aver that in order to maximize the value of the Balmoral Track, it
is critical to include the Fixed Assets as part of the sale.

Balmoral Racing Club, Inc., and Maywood Park Trotting Association,
Inc., are represented by:

          Chad H. Gettleman, Esq.
          Nathan Q. Rugg, Esq.
          Alexander F. Brougham, Esq.
          ADELMAN & GETTLEMAN, LTD.
          53 West Jackson Boulevard, Suite 1050
          Chicago, IL 60604
          Telephone: (312)435-1050
          Facsimile: (312)435-1059
          E-mail: chg@ag-ltd.com
                  nrugg@ag-ltd.com
                  abrougham@ag-ltd.com

                    About Balmoral Racing Club

Balmoral Racing Club, Inc., and Maywood Park Trotting Association,
Inc. operate pari-mutuel wagering at the Balmoral Park and Maywood
Park racetracks in Illinois under a license granted by the State of
Illinois pursuant to the Illinois Horse Racing Act of 1975.

Balmoral Racing Club (Bankr. N.D. Ill. Case No. 14-45711) and
Maywood Park Trotting Association (Bankr. N.D. Ill. Case No.
14-45718) filed for Chapter 11 bankruptcy protection on Dec. 24,
2014, to continue operations into 2015 and protect themselves
against property seizure.  Both cases were consolidated on
December
31, 2014.

Alexander F. Brougham, Esq., Chad H. Gettleman, Esq., and Nathan Q.
Rugg, Esq., at Adelman & Gettleman, Ltd., serve as the Debtors'
bankruptcy counsel.

Neither a trustee nor a committee of unsecured creditors has been
appointed in the Chapter 11 Cases.


BIND THERAPEUTICS: Meeting to Form Creditors' Panel Set for May 11
------------------------------------------------------------------
Andy Vara, Acting United States Trustee for Region 3, will hold an
organizational meeting on May 11, 2016, at 10:00 a.m. in the
bankruptcy case of BIND Therapeutics, Inc., et al.

The meeting will be held at:

         DE State Bar Association
         405 N. King St., Ste. 100
         Wilmington, DE 19801

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

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

To increase participation in the Chapter 11 proceeding, Section
1102 of the Bankruptcy Code requires that the United States Trustee
appoint a committee of unsecured creditors as soon as practicable.
The Committee ordinarily consists of the persons, willing to serve,
that hold the seven largest unsecured claims against the debtor of
the kinds represented on the committee.
Section 1103 of the Bankruptcy Code provides that the Committee may
consult with the debtor, investigate the debtor and its business
operations and participate in the formulation of a plan of
reorganization.  The Committee may also perform other services as
are in the interests of the unsecured creditors whom it
represents.



BIONITROGEN HOLDINGS: In Advanced Talks with Strategic Partners
---------------------------------------------------------------
BioNitrogen Holdings Corp. et al., ask the U.S. Bankruptcy Court
for the Southern District of Florida for an order:

     (a) extending the period during which the Debtors have the
exclusive right to file a Chapter 11 plan and disclosure statement,
through and including August 24, 2016; and

     (b) extending the period during which the Debtors have the
exclusive right to solicit acceptances thereof, through and
including October 24, 2016.

On March 26, 2016, the Court and extended (a) the Exclusive Filing
Period through and including May 24, 2016 and (b) the Exclusive
Solicitation Period through and including July 24, 2016.

The Debtors tell the Court that Brent Williams of Teneo Securities,
LLC, the Debtors' financial advisors and investment bankers, along
with Debtor's management team (comprised principally of Graham
Copley (the Debtor's CEO) and Lillian Ruiz of Pentant, LLC, have
been hard at work contacting a variety of investors and potential
purchasers.  The Debtor and Teneo have since significantly
augmented the marketing program.  Those efforts have resulted in
the opportunity to form a strategic alliance with a municipality
and engage in deeper and more substantive discussions with
potential strategic partners.

The Debtors narrated their activities and benchmarks achieved since
the Petition Date:

     Mid - Late December 2015

          Preparation of teaser letter and Confidential
          Information Memorandum for the Biomass IP.

     Early January 2016

          Went to market with the Biomass IP opportunity. At the
          time, BioN had selected neither a land site nor a
          supporting municipal partner. Thus, the offering did not

          include an available bond allocation or partnership with

          a municipality .  

          78 Biomass investors (44 private equity / 18 venture
          capital / 16 strategic) were contacted and provided a
          Biomass investment teaser, in addition to follow-up
          actions.  

     Early February 2016

          Went to market with the Stranded Natural Gas IP
          opportunity . Given that the relevance of the Biomass
          IP had been recently identified by Management in
          December 2015, the initial technical feasibility and
          associated business model was completed late January
          2016, precluding an early contact effort.  

     January 2016 to Date

          Numerous meetings and calls have taken place with
          potential strategic and financial partners.

     Early March 2016

          Based on feedback from both potential strategic and
          financial partners, it was apparent that greater
          visibility on a land site and associated construction
          funding sources were needed to effectively market the
          Biomass IP.  Discussions commenced with the City of
          Perry, Florida on a potential agreement for the
          development and construction of a plant in Taylor
          County.

     Early April 2016

          Marketing material including an updated teaser and
          company press release were sent to potential financial
          and strategic partners/investors., essentially
          re-marketing the Biomass IP given the positive
          developments with the City of Perry and greater
          potential scale of the opportunity.

          72 Biomass investors were contacted, of which 52 had
          been originally contacted along with 20 new investor
          were contacted, of which 52 had been originally
          contacted along with 20 new investor contacts.

     April 12, 2016

          Settlement Agreement reached with City of Perry,
          Florida.

In addition to obtaining an exit facility or transacting an asset
sale in order to fund the payment of allowed claims and expenses
associated with emerging from Chapter 11, the Debtor is actively
pursuing this restructuring strategy, designed to fund the
construction of a Biomass Facility:

       a. Partnership with a Strategically Located
          Municipality

          Effective April 12, 2016, BioN has negotiated a
          settlement agreement with the City of Perry, Taylor
          County Florida. The settlement agreement is subject
          to court approval pursuant to a Motion to approve
          the settlement agreement under Federal Rule of
          Bankruptcy Procedure 9019 that has been filed with
          the Court, and is pending hearing on May 24, 2016.
          The agreement provides significant benefits to
          BioN, its creditors and to Perry, Florida and
          Taylor Country.  Key details are:

          -- Perry Claim: Perry will be allowed a general
             unsecured claim of $3.07 million. 20% of the
             allowed claim will be paid on the effective
             date of a Chapter 11 plan. The remaining amount
             of the claim will be paid upon obtaining
             financing in full for the development and
             construction of the Biomass Facility. Perry
             will also receive a royalty payment on a per
             urea tonnage basis.

          -- Landsite Identification: The City of Perry
             agrees to assist the current Debtors and Newco
             in the identification and acquisition of an
             appropriate land site for construction.

          -- Bond Allocation: The City of Perry will take
             all required reasonable measures to secure a
             commitment of existing State of Florida bond
             allocations to the development and construction
             of the Biomass Facility, up to $300 million.

          -- Exclusivity on the Construction of the First
             Biomass Facility: In consideration for the
             settlement terms, the Newco2 agrees to grant
             Taylor Country exclusivity on the construction
             of the first Biomass Facility.

       b. Alliance With Strategic Partner

          BioN is engaged in advanced negotiations with a
          strategic partner. It is envisioned that this
          partner will assist in these areas:

          -- Assist in the costing and monitoring of
             engineering, procurement and construction
             services from third parties;

          -- Serve as a customer of certain by-products;
             and

          -- Provide additional assurances regarding
             technical feasibility to potential investors
             and/or lenders.

       c. Financial Sponsor or Acquirer

          BioN is actively seeking a financial sponsor or
          acquirer to provide the funding associated the
          construction of the Biomass Facility in Perry,
          Florida.   The financial party would be in
          partnership with a strategic partner and could
          also be the provider of the exit facility.  It
          is anticipated that 80% of construction costs
          will be generated from government tax advantaged
          bonds with the remaining 20% generated from the
          financial sponsor(s).

The Debtors recount that when the Court approved the First
Exclusivity Motion, the discussions with City of Perry were in
their infancy.  At that time, potential investors were unaware of a
potential agreement with a municipality with the potential
availability of up to $300 million bond allocation for the
development and building the first Biomass Facility.  Since then,
BioN has finalized its negotiations with Perry.  Perry's city
council has unanimously approved and ratified the terms of a
settlement agreement and the Debtor has filed a motion to approve
the settlement agreement by and between the Debtor and the City of
Perry.  

The Debtors state that the settlement with the City of Perry has
resulted in a significant increase in the level of interest in the
Biomass IP and has facilitated fulsome and material discussions
with potential investors.   

Over the last 3 weeks, given the significant development with the
City of Perry, Management and Teneo have re-focused the marketing
campaign.  To date, 10 Biomass Investors (7 private equity / 3
strategic) have had a call or meeting with Management; 5 Biomass
Investors (3 private equity / 2 strategic) have executed
non-disclosure agreements to commence due diligence, 59 potential
Stranded Natural Gas  Investors were also contacted.  Interest has
increased in the Biomass opportunity given the positive
developments with the City of Perry, which provides a roadmap for
emerging from Chapter; Resolves the claim of a large creditor, and
helps provide assurance to financial investors as to the
feasibility of the venture.

According to the Debtors, given the new visibility on funds needed
to emerge from Chapter 11 (exit facility) and the increased scale
of the opportunity, now that the potential for building the first
Biomass Facility has materially developed, investors that would
have viewed the initial opportunity as too small and too
speculative can now be reached.  Dialogue with potential investors
is on-going and will be enhanced by the finalization of an
agreement with a strategic partner.  To that end, BioN is engaged
in advanced discussions with potential strategic partners and
anticipates that a partner will be selected in the next 2 to 4
weeks.

The Debtors remain confident in the successful outcome of the
restructuring, investment, and sale efforts. More importantly, the
Debtors believe that the agreement with the City of Perry will
become the catalyst to the negotiation and formation of further
economic and strategic alliances that will enable the Debtor to
emerge from Chapter 11 and develop the first Biomass Facility.

The Debtors are represented by:

     Jacqueline Calderin, Esq.
     EHRENSTEIN CHARBONNEAU CALDERIN
     501 Brickell Key Drive, Suite 300
     Miami, FL 33131
     Tel: 305.722.2002
     Fax: 305.722.2001
     E-mail: jc@ecclegal.com

                 About BioNitrogen Holdings, Corp.

BioNitrogen Holdings Corp. and its affiliates own valuable,
patented and proprietary technology of two different types.  The
first allows the holder of the technology to build environmentally
friendly plants that utilize and convert residual agricultural
waste and other biomass materials into urea fertilizer. Urea is
principally used in the agricultural industry as a crop fertilizer.
This technology allows for the urea plant to be located where both
biomass is abundant (and problematic) and urea is demanded for
agricultural production.  The second allows the holder of the
technology to convert 'stranded natural gas' into urea fertilizer.
Stranded natural gas is defined as gas that is unable to be
transported to end users due to a lack of necessary infrastructure
currently in place at the well site (i.e. pipeline).  Stranded
natural gas is most often burned off by employing a flame at the
top of the oil drilling equipment or derrick, resulting in carbon
emissions and the waste of a natural resource.  Both processes
would permit the Debtor to then sell high quality urea fertilizer
on a retail or wholesale basis, while at the same time addressing
two environmental hazards: the accumulation and potential burning
of agricultural waste and the flaring of natural gas.  The Stranded
Natural Gas Initiative, however, is particularly exciting because
the Debtor' technology is so compact as to be portable, and can
actually be transported to oil and gas exploration sites, capture
the stranded natural gas for conversion to urea fertilizer, and
when the well has been completely utilized, the stranded natural
gas manufacturing facility can simply be towed to another well.  

Miami, Florida-based BioNitrogen Holdings, Corp., formerly known
as
Hidenet Securities Architectures, Inc., doing business as
BioNitrogen Corp. and its affiliates filed for Chapter 11
protection (Bankr. S.D. Fla. Case Nos. 15-29505 - 15-29515) on
Nov.
3, 2015.  The petition was signed by Carlos A. Contreras, chairman
and chief executive officer.

Bankruptcy Judges Robert A. Mark, Laurel M. Isicoff and Jay
Cristol
preside over the cases.  Jacqueline Calderin, Esq., at Ehrenstein
Charbonneau Calderin represents th Debtors in their restructuring
effort.  BioNitrogen Holdings has unknown assets and liabilities
of
$3.5 million.  BioNitrogen Florida Holdings and BioNitrogen Plant
FL Taylor estimated assets between $0 to $50,000 and debts at $1
million to $10 million.


BLUE RIBBON: Moody's Raises Corporate Family Rating to B1
---------------------------------------------------------
Moody's Investors Service upgraded Blue Ribbon, LLC's Corporate
Family Rating to B1 from B2. Moody's also affirmed the B1 rating on
the first lien senior secured credit facility in conjunction with a
$135 million term loan add-on, which brings the total first lien
term debt outstanding to $495 million as of year-end 2015. The
proceeds from the add-on will be used to repay the company's $130
million second lien term loan. The revolving credit facility will
be upsized to $95 million from $75 million as part of the
transaction. The Probability of Default rating was upgraded to
B1-PD from B2-PD. The rating outlook is stable.

"The upgrade reflects our view that Blue Ribbon's expansion
strategy will continue to yield favorable results," said Linda
Montag, Senior Vice President at Moody's Investors Service. "We
expect that the company will build on recent additions to its
portfolio, such as last year's successful launch of Not Your
Father's Root Beer, and an agreement to distribute Tsingtao beer in
the US, to reduce its reliance on its declining core brands," noted
Montag. The upgrade also reflects the company's good cash flow and
the significant decrease in leverage (as measured by debt/EBITDA
including Moody's standard adjustments) to around 5 times at the
end of the 2015 from around 7 times following the company's LBO in
late 2014. Moody's expects that earnings growth and good free cash
flow should allow the company to de-lever quickly. The affirmation
of the first lien facility ratings at B1 reflects the elimination
of the second lien debt in the capital structure.

Ratings upgraded:

Corporate Family Rating to B1 from B2

Probability of Default rating to B1-PD from B2-PD

Ratings affirmed:

First lien term loan due 2021 at B1 (LGD 3)

Revolving credit facility expiring 2019 at B1 (LGD 3)

Rating affirmed and to be withdrawn at close:

Second lien term loan due 2022 at Caa1 (LGD 5)

The outlook is stable

RATINGS RATIONALE

Blue Ribbon's B1 Corporate Family Rating reflects its moderately
high financial leverage, small scale and its heavy reliance on its
largest brand, Pabst Blue Ribbon (PBR), which accounts for around
40% of net sales and has seen recent volume declines. At the same
time, it reflects its portfolio of around 30 other active brands
which are helping to revitalize and premiumize its portfolio.
Although EBITDA margins will decline in the short run as the
company expands its infrastructure to support future growth, Blue
Ribbon should continue to experience sales growth, margin
expansion, and declining leverage as it executes on its growth
strategy. Moody's expects the company to face tough competition
from larger competitors, even in the hard soda space where it has a
first mover advantage. While operating margins have approached
mid-teens from high single digits in recent years, they are still
thin relative to larger beer producers. Blue Ribbon also has more
limited geographic diversity and smaller scale compared to other
beer companies and to other beverage companies in general. The
rating is supported by the company's well-known, iconic brands, the
strong market position of its largest brand in the sub-premium
segment, success of recent brand additions, minimal need for
working capital and capital investment, and good cash flow.

“The stable rating outlook reflects our expectation for moderate
revenue growth and good cash flow under the relatively new
ownership that will support brand investment, interest expense and
allow for some debt repayment. We also assume that the company will
maintain a relatively conservative financial policy, not paying out
cash to shareholders until leverage is significantly reduced.”

The rating could be upgraded if the company continues to generate
good and predictable cash flows, successfully executes its growth
strategies to support sustained top line and operating profit
expansion, improves its scale and diversification and reduces
leverage. An upgrade would also require that leverage is reduced
such that debt to EBITDA (including Moody's standard adjustments)
approaches 3.5 times.

The rating could be downgraded if operating performance weakens
such that EBIT/interest approaches 1 times, debt/EBITDA is
sustained above 5.5 times, free cash flow becomes negative or
overall liquidity weakens. In addition, leveraged acquisitions, or
leveraging transactions including substantial dividend
distributions before debt/EBITDA declines below 4 times, could also
lead to a downgrade.

The principal methodology used in these ratings was Global
Alcoholic Beverage Industry published in October 2013.

Headquartered in Los Angeles, California, Blue Ribbon, LLC (parent
company of Pabst Brewing Company) is the largest independent brewer
in the US, though well behind market leaders in scale, with a
portfolio of iconic American beer brands. Major brands in the
company's portfolio include Pabst Blue Ribbon, Lone Star, Rainier,
Old Milwaukee, Colt 45 and Schlitz. Recently, the company has added
Not Your Father's Root Beer, Tsingtao (Chinese beer), and Woodchuck
(cider) to its platform. The company is owned by a consortium of
investors which consists of the Great American Brewing Company
(owned by Eugene Kashper) and TSG Consumer Partners, a private
equity firm with a focus in consumer products. Sales for the
year-ended December 2015 approximated $670 million.




CALPINE CORP: Moody's Rates Proposed $500MM Term Loan Ba2
---------------------------------------------------------
Moody's Investors Service assigned a Ba2 (LGD3) rating to Calpine
Corporation's proposed $500 million term loan B due 2023.
Concurrent with this rating assignment, Moody's affirmed Calpine's
Ba3 Corporate Family Rating (CFR), Ba3-PD Probability of Default
Rating, Ba2 senior secured revolver, term loans, and senior secured
note ratings, B2 senior unsecured note ratings, speculative grade
liquidity rating SGL-1,senior unsecured shelf (P)B2 and senior
secured shelf (P)Ba2.  Proceeds from the new debt issuance will be
used to refinance a portion of the existing term loan due 2019.
Calpine's rating outlook is stable.

                        RATINGS RATIONALE

Calpine's Ba3 Corporate Family Rating (CFR) reflects the inherent
volatility of the merchant power sector and its considerable debt
leverage.  These challenges are partly offset by the cash flow
resiliency resulting from the company's large scale and geographic
diversity, which includes significant exposure to markets in the
Northeast, Texas and California.  Calpine's fleet of generation
assets is comprised predominantly of natural gas-fired facilities,
which raises fuel concentration risk, but in the current low
natural gas price environment, having exposure to gas as a fuel is
highly favorable compared to other fuels.  Calpine's generation
base also benefits from having high fuel efficiency and low
maintenance and environmental capital expenditures, which lowers
its business risk profile.

Calpine has high debt leverage, a credit weakness.  Moody's
calculates Calpine's ratio of CFO pre-WC/debt for year-end 2015 at
7.6% which was an improvement over the previous two years -- with
6.8% and 5.8% registered in 2013 and 2014, respectively.  Despite
the debt burden, Calpine's ability to generate positive free cash
flow through the current low power price environment is an
important rating consideration.  Moody's estimates that Calpine has
a run-rate of cash flow from operation of $900 million annually
with maintenance and environmental capital expenditure of $120
million, leaving about $780 million of free cash flow before growth
capital expenditures against about $12.4 billion of debt. Unlike
its merchant peers with coal or nuclear generation, gas plants have
a relatively low level of maintenance and environmental compliance
capital expenditures.

Liquidity Analysis

Calpine's speculative grade liquidity rating is SGL-1.  The company
continues to possess strong liquidity, with $244 million of
unrestricted cash on hand at the end of first quarter 2016 and
about $1.36 billion of unused capacity on its corporate revolving
credit facility.  Excluding project finance debt maturities,
Calpine's next scheduled debt maturity is a $308 million first lien
term loan due October 2019 (assuming $500 million is refinanced)
and its corporate revolving facility due June 2020. The company
generated about $842 million of adjusted free cash flow before
growth capital expenditures for the year 2015 and is forecast to
generate $710 to $860 million of adjusted free cash flow in 2016.

Outlook

Calpine's stable outlook reflects its continued resilient free cash
flow generation and disciplined approach to investments and asset
acquisitions.

Factors that Could Lead to an Upgrade

Moody's may consider a positive rating action should industry
fundamentals improve significantly and Calpine's CFO Pre-WC/debt
rises to the mid-teens.

Factors that Could Lead to a Downgrade

Moody's may consider a negative rating action should industry
fundamentals experience further deterioration and the company's CFO
Pre-WC/debt falls to the mid-single digit range on a sustained
basis.

The principal methodology used in these ratings was Unregulated
Utilities and Unregulated Power Companies published in October
2014.


CHC GROUP: Case Summary & 30 Largest Unsecured Creditors
--------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

        Debtor                                        Case No.
        ------                                        --------  
        CHC Group Ltd.                                16-31854
           fka FR Horizon Holding (Cayman) Inc.
        600 East Las Colinas Blvd.
        10th Floor
        Irving, TX 75039

        6922767 Holding SARL                          16-31855
        Capital Aviation Services B.V.                16-31856
        CHC Cayman ABL Borrower Ltd.                  16-31857
        CHC Cayman ABL Holdings Ltd.                  16-31858
        CHC Cayman Investments I Ltd.                 16-31859
        CHC Den Helder B.V.                           16-31860
        CHC Global Operations (2008) ULC              16-31862
        CHC Global Operations Canada (2008) ULC       16-31870
        CHC Global Operations International ULC       16-31879
        CHC Helicopter (1) S.A R.L.                   16-31892
        CHC Helicopter (2) S.A R.L.                   16-31895
        CHC Helicopter (3) S.A R.L.                   16-31878
        CHC Helicopter (4) S.A R.L.                   16-31882
        CHC Helicopter (5) S.A R.L.                   16-31890
        CHC Helicopter Australia Pty. Ltd             16-31872
        CHC Helicopter Holding S.A R.L.               16-31875
        CHC Helicopter S.A.                           16-31863
        CHC Helicopters (Barbados) Limited            16-31865
        CHC Helicopters (Barbados) SRL                16-31867
        CHC Holding (UK) Limited                      16-31868
        CHC Holding NL B.V.                           16-31874
        CHC Hoofddorp B.V.                            16-31861
        CHC Leasing (Ireland) Limited                 16-31864
        CHC Netherlands B.V.                          16-31866
        CHC Norway Acquisition Co AS                  16-31869
        Heli-One (Netherlands) B.V.                   16-31871
        Heli-One (Norway) AS                          16-31876
        Heli-One (U.S.) Inc.                          16-31881
        Heli-One (UK) Limited                         16-31888
        Heli-One Canada ULC                           16-31893
        Heli-One Holdings (UK) Limited                16-31894
        Heli-One Leasing (Norway) AS                  16-31886
        Heli-One Leasing ULC                          16-31891
        Heli-One USA Inc.                             16-31853
        Heliworld Leasing Limited                     16-31889
        Integra Leasing AS                            16-31885
        Lloyd Bass Strait Helicopters Pty. Ltd.       16-31883
        Lloyd Helicopter Services Limited             16-31873
        Lloyd Helicopter Services Pty. Ltd.           16-31877
        Lloyd Helicopters International Pty. Ltd.     16-31880
        Lloyd Helicopters Pty. Ltd.                   16-31884
        Management Aviation Limited                   16-31887

Type of Business: CHC Group Ltd., along with its debtor and non-
                  debtor subsidiaries, is a global provider of
                  helicopter services, including offshore
                  transport, search and rescue, emergency medical
                  services, and other ancillary services.

Chapter 11 Petition Date: May 5, 2016

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

Judge: Hon. Stacey G. Jernigan

Debtors' Counsel: Stephen A. Youngman, Esq.
                  WEIL, GOTSHAL & MANGES LLP
                  200 Crescent Court, Suite 300
                  Dallas, TX 75201-6950
                  Tel: 214-746-7700
                  Email: stephen.youngman@weil.com

                    - and -

                  Gary Holtzer, Esq.
                  Kelly DiBlasi, Esq.
                  WEIL, GOTSHAL & MANGES LLP
                  767 Fifth Avenue
                  New York, NY 10153
                  Tel: (212) 310-8000
                  Fax: (212) 310-8007
                  Email: gary.holtzer@weil.com
                         kelly.diblasi@weil.com

Debtors'          DEBEVOISE & PLIMPTON LLP
Special
Aircraft
Counsel:

Debtors'          PJT PARTNERS LP
Investment
Banker:

Debtors'          SEABURY CORPORATE ADVISORS LLC
Financial
Advisor:

Debtors'          CDG GROUP, LLC
Restructuring
Advisor:

Debtors'          KURTZMAN CARSON CONSULTANTS LLC
Claims &
Noticing
Agent:

Total Assets: $2.16 billion as of January 31, 2016

Total Debts: $2.19 billion as of January 31, 2016

The petition was signed by Robert A. Del Genio, chief restructuring
officer.

List of CHC's 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
International                      Unsecured Notes    $98,432,780
Corporate Trust
Address: The Bank of New
York Mellon 101 Barclay Street,
Floor 4 East, New York, NY 10286
Tel: (412) 234-5000

McGrigors Pension                      Pensions       $66,440,996
Trustees Limited
Address: 141 Bothwell Street,
Glasgow, G2 7EQ
Tel: 44 (0)141 567 8401

Martello Property                   Lease Financing    $26,586,212
Services Inc.                           Facility
Address: 200-808 West
Hastings Street, Vancouver,
BC, V6C 2X4
Tel: 604-681-6544
Fax: 604-681-5114

Finmeccanica S.P.A.                     Trade           $4,956,652
Helicopters Div.
Address: Warranty
Administration Dept Via Per
Tornavento 15 21019 Somma
Lombardo (Va)
Name: Finmeccanica S.P.A.
Helicopters Div.
Tel: 00390331711288
Fax: 00390331711377
Email: daniele.romiti@finmeccanica.com

Airbus Helicopters                      Trade          $4,145,055
Address: Aeroport International
Marseille Province Fr-13725
Marignane Cedex
Tel: 003342858585
Fax: 003342859996
Email: guillaume.faury@airbus.com

Sikorsky Commerical                     Trade          $3,076,829
Inc. (HSI)
Address: P.O. BOX 111068
Trumbull, CT 06611-0868
Name: Sikorsky Commerical
Inc. (HSI)
Tel: 203-416-4000
Fax: 203-416-4291
Email: danielschultz@sikorsky.com

Coface - Parilease SAS                  Lease          $2,197,611
Address: 16 rue de Hanovre
Paris 75002 France
Tel: +33 1 43 16 86 52
Fax: +33 1 4298 1203

CAE                                    Services        $2,132,219
Address: 2025 Logistics Drive
Mississauga Ontario L5S 1Z9
L5S 1Z9 Canada CA L5S 1Z9
Tel: - 905-672-8650
Fax: 514-734-5682
Email: nelson.camacho@cae.com

Waypoint Asset                       Trade; Lease       $1,320,087
Company (Ireland) Ltd
Address: 25/28 North Wall
Quay Dublin 1 Ireland IE
Company (Ireland) Ltd
Tel: +353 61 633333

Turbomeca                               Trade           $1,185,968
Address: Technopole Izarbel
Bp4 64210 Bidart, France
Name: Turbomeca
Tel: - +(33) 5 59 12 50 72
Fax: - 0033559125491
Email: bruno.even@turbomeca.fr

TMC International Ltd                  Services         $1,048,444
Address: 2-1-15 Hiroo Shibuya-
ku JP-Tokyo 150-0012 Japan
Tel: +81-3-3400-5188
Fax: +81-3-5778-4888

Milestone Aviation                   Trade; Lease       $1,020,158
Group
Address: Block 4 The Harcourt
Centre Harcourt Road Dublin 2
Ireland
Tel: - +353 1 216 5700

Ruag Switzerland Ltd                     Trade            $920,051
Address: Ruag Aviation
Seetalstrasse 175 Ch-6032 Emmen
Tel: 0041416725050
Fax: 0041416725051

Lombard North Central Plc                Lease            $777,578
Address: Lombard House, The
Waterfront, Elstree Road
Elstree, Hertfordshire WD6 3BS
United Kingdom
Tel: +44 (0) 208 236 7827
Fax: +44 207 672 4006

Sandycove Aviation                       Lease            $710,371
Limited
Address: c/o LCI Helicopters
Ireland Ltd 41 Forbes Quay
Sir John Rogersons Quay
Dublin 2 Ireland IE

GE Capital Equipment                   Trade; Lease       $686,416
Finance Ltd
Address: 2630 The Quadrant
Aztec West Bristol Bristol BS32
4GQ GB BS32 4GQ
Tel: 00448702418899

SACE Lenders - BNP                        Lease           $503,623
Paribas
Address: 21, place du Marche
Saint-Honore
Paris 75001 France

SpareBank1                                Lease           $413,085
Address: Sjogata 8, 9008
Tromso, PO Box 6801, Langes
Tromso 9298 Norway
Tel: +47 7762 2372
Fax: - +47 7762 2371

1027098 BC Ltd.                          Services         $390,000
Address: 1376 Sea Lover's
Lane, Gabriola, BC, Canada
V0R 1X5
Tel: - 1-250-247-9594

Precision Accessories &                   Trade          $379,316
Instruments
Address: 495 Lake Mirror Road
Building 800 Suite G
Atlanta, GA 30349
Tel: 0014047675800
Fax: 0014047675900

Saga Gabon S.A.                           Trade          $368,164
Address: Z.P.D. Owendo Bp72
Libreville Gabon Gabon Ga
Tel: 241-702082
Fax: 241-701207

Regent Tanzania Ltd.                     Services        $367,147
Address: P.O. Box 10311
964 Olympio Street
Upanga Dar - ES - Salaam Dar
- ES - Salaam Tanzania TZ
Tel: -+255 784 540060
Fax: - 255 22 2153 297

Lobo Leasing SPV A                      Trade;Lease      $314,312
Limited
Address: Alexandra House The
Sweepstakes Ballsbridge
Dublin 4 Ireland IE
Tel: - +353 1 253 0460

Airbus Helicopters                         Trade         $286,735
Simulation Center
Address: Sultan Abdul Aziz
Shah Airport
47200 Subang Selangor
Malaysia
Tel: - 60378487600

Euroavionics                               Trade         $259,696
Navigations System GMB
Address: Karlsruher Strasse 91
DE-75179 Pforzheim
Germany
Tel: - 00497231586780

Sikorsky Helitech -                        Trade         $229,694
Australia
Address: PO Box 1374 Eagle
Farm QLD 4009
Australia
Tel: (07)36327000

Composite Technology                       Trade         $209,014
Inc. USA
Address: 1727 South Main
Street
Grapevine TX 75261 USA
Tel: - 0019724566900

DJ Composites Inc.                         Trade          $201,219
Address: 1 C.L. Dobbin Road
Gander Newfoundland &
Labrador A1V 2V3
Canada
Tel: - 709-256-6111

Matha Janthorn Co. Ltd.                   Services        $199,702
Address: 779 Soi Rajchada 18
Rajchadapisek Rd Huey Kwang
Bangkok 10310
Thailand
Tel: - 02 692 6229
Fax: - 02 692 5005

Honeywell International,                  Trade           $175,607
Phoenix
Address: 21111N. 19th Ave.
Phoenix AZ 85027-2708
USA
Tel: - 0016024366184


CHC GROUP: Files for Bankruptcy Protection to Restructure Debt
--------------------------------------------------------------
CHC Group Ltd. and 42 of its wholly-owned subsidiaries each filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code in the U.S. Bankruptcy Court for the Northern District of
Texas on May 5, 2016, saying they can no longer bear the weight of
their current capital structure and fleet expenses.  The Debtors
decided to seek Chapter 11 protection to take advantage of the
"breathing spell" afforded by the automatic stay as they continue
to negotiate and work with their creditors and lessors to develop a
proposal to restructure their fleet and balance sheet.

Headquartered in Irving, Texas, CHC is a global commercial
helicopter services company primarily servicing the offshore oil
and gas industry.  CHC maintains bases on six continents with major
operations in the North Sea, Brazil, Australia, and several
locations across Africa, Eastern Europe, and South East Asia.  CHC
maintains a fleet of 230 medium and heavy helicopters, 67 of which
are owned by it and the remainder are leased rom various
third-party lessors.

"The rapid and unexpected decline in oil prices has led to a
significant decline in offshore oil exploration, cost reduction
measures for production operations, and a substantially decreased
demand for offshore drilling services," according to Robert A. Del
Genio, chief restructuring officer of the Debtors.  "As CHC's oil
and gas customers have implemented severe reductions in capital
spending and cost cutting measures, the demand for CHC's helicopter
services has dramatically declined," he added.

As disclosed in Court filings, the Debtors' total operating
revenues for the fiscal year ended April 30, 2016, were
approximately $1.4 billion, representing an approximate 15%
decrease in operating revenues year over year.  As of Jan. 31,
2016, CHG had $2.16 billion in total assets and $2.19 billion in
total liabilities.  

The Debtors had outstanding funded debt obligations in the
aggregate amount of approximately $1.6 billion, which amount
consists of (i) approximately $370 million in secured borrowings
under their revolving facility, (ii) approximately $139 million in
secured borrowing under their ABL facility, (iii) approximately
$1.0 billion in principal amount of senior secured notes, and (iv)
approximately $95 million in principal amount of Unsecured Notes.
The Debtors also have approximately $644 million in preferred stock
outstanding as of the Petition Date.

Mr. Del Genio said that despite efforts to undertake transactions
to reduce long-term debt and reduce structural costs, the Debtors
are unable to absorb the ongoing and precipitous decline in
business demand from the oil and gas industry and the corresponding
decline in the Debtors' revenues and cash flows.

Through the restructuring process, the Debtors intend to
substantially reduce their debt obligations and shed at least 90
unproductive aircraft.  The Debtors expect to return and reject the
leases and subleases related to over 90 unproductive leased
aircraft during the first 60 days of these Chapter 11 cases.

"The Debtors are focused on quickly moving forward and ideally
reaching a consensual deal that will enable the Debtors to quickly
emerge from these Chapter 11 cases with a significantly
strengthened financial position," Mr. Del Genio related.

To enable the Debtors to operate effectively and minimize the
potential adverse effects of the commencement of these
reorganization cases, they have requested certain relief in "first
day" applications and motions filed with the Court.  The Debtors
seek authority to, among other things, continue using existing cash
management system, utilize cash collateral, and pay employee
obligations.

Although the Debtors believe that they have sufficient liquidity to
fund these Chapter 11 cases, at this time, they said they are
constrained to a short-term four week cash forecast as a result of
a recent tragic accident in Norway that may have an impact on their
future revenues, cost structure, and helicopter fleet.  On April
29, 2016, an Airbus EC 225 helicopter was involved in an accident
while on approach to Flesland Airport in Bergen, Norway from the
Gullfaks B platform.  The EC 225 carried 11 passengers and two crew
members.  The cause of the accident is not yet known and full
investigations are being carried out in conjunction with regulators
and police authorities.

The Debtors have hired Weil, Gotshal & Manges LLP as counsel,
Debevoise & Plimpton LLP as special aircraft counsel, PJT Partners
LP as investment banker, Seabury Corporate Advisors LLC as
financial advisor, CDG Group, LLC as restructuring advisor, and
Kurtzman Carson Consultants LLC as claims and noticing agent.

The cases are pending joint administration under Case No. 16-31854
before the Honorable Judge Jernigan.

A copy of the declaration in support of the First Day Motions is
available for free at:

        http://bankrupt.com/misc/13_CHCGROUP_declaration.pdf


CHRYSLER LLC: Indiana Barred from Using Experience Rating
---------------------------------------------------------
Judge Stuart M. Bernstein of the U.S. Bankruptcy Court for the
Southern District of New York issued a findings of fact and
conclusions of law to answer whether the Sale Order issued in the
Chapter 11 cases of Old Carco LLC, f/k/a Chrysler, LLC, et al.,
prohibits Indiana from using Old Chrysler's Experience Rating, a
historical figure used to calculate an employer's unemployment
insurance tax rate, to determine New Chrysler's tax liability.

The Court previously ruled that the Sale Order barred Indiana from
using Old Chrysler's Experience Rating unless the "police and
regulatory" exception located in paragraph 23 of the Sale Order
negated the prohibition.  The Court concluded that paragraph 23 was
ambiguous and ordered a trial to determine the parties' intent.

The Court conducted a trial on April 15, 2016.  It heard the
testimony of two witnesses and received several documents in
evidence.  Following the trial, it also received post-trial
briefing from Indiana and New Chrysler.  The Court concludes that
paragraph 23 of the Sale Order does not provide an exception to the
free and clear provisions of the Sale Order, and the Sale Order,
therefore, bars Indiana from using Old Chrysler's Experience Rating
to calculate New Chrysler's unemployment insurance tax rate.

A full-text copy of Judge Bernstein's Decision dated May 4, 2016,
is available at http://bankrupt.com/misc/CHRYSLER84740504.pdf

Appearances:

          SULLIVAN & CROMWELL LLP
          Counsel for FCA US LLC (f/k/a Chrysler Group LLC)
          125 Broad Street
          New York, NY 10004
          Brian D. Glueckstein, Esq.
          Mark S. Geiger, Esq.
          Of Counsel
          Email: gluecksteinb@sullcrom.com
                 geigerm@sullcrom.com

          GREGORY F. ZOELLER
          Indiana Attorney General
          Attorney for Indiana Department of Workforce Development
          302 W. Washington Street, IGCS Fifth Floor
          Indianapolis, IN 46204
          Maricel E.V. Skiles
          Heather Crockett
          Assistant Attorneys General
          Of Counsel

Chrysler LLC and 24 affiliates on April 30, 2009, sought Chapter
11
protection from creditors (Bankr. S.D.N.Y (Mega-case), Lead Case
No. 09-50002).  Chrysler hired Jones Day, as lead counsel; Togut
Segal & Segal LLP, as conflicts counsel; Capstone Advisory
GroupLLC, and Greenhill & Co. LLC, for financial advisory
services;
and Epiq Bankruptcy Solutions LLC, as its claims agent.  Chrysler
changed its corporate name to Old CarCo following its sale to a
Fiat-owned company.  As of Dec. 31, 2008, Chrysler had
$39,336,000,000 in assets and $55,233,000,000 in debts.  Chrysler
had $1.9 billion in cash at that time.

In connection with the bankruptcy filing, Chrysler reached an
agreement with Fiat SpA, the U.S. and Canadian governments and
other key constituents regarding a transaction under Section 363
of
the Bankruptcy Code that would effect an alliance between Chrysler
and Italian automobile manufacturer Fiat.  As part of that deal,
Fiat acquired a 20% equity interest in Chrysler Group.

Under the terms approved by the Bankruptcy Court, the company
formerly known as Chrysler LLC on June 10, 2009, formally sold
substantially all of its assets, without certain debts and
liabilities, to a new company that will operate as Chrysler Group
LLC.  The U.S. and Canadian governments provided Chrysler with $4.5
billion to finance its bankruptcy case.  Those loans are to be
repaid with the proceeds of the bankruptcy estate's liquidation.
Old Carco's Second Amendment Joint Plan of Liquidation was
confirmed by the Bankruptcy Court on April 23, 2010.


COLOR LANDSCAPES: Court Official Announces Plan to Form Committee
-----------------------------------------------------------------
William Miller, bankruptcy administrator, filed with the U.S.
Bankruptcy Court for the Middle District of North Carolina a notice
of formation of an official committee of unsecured creditors in the
Chapter 11 case of Color Landscapes by Michael Dickey, Inc.

Unsecured creditors willing to serve on the committee are required
to file a response within 10 days from May 4, 2016.  

An organizational meeting will be scheduled after the committee is
appointed, according to the filing.

Mr. Miller can be reached through:

     Susan O. Gattis
     Bankruptcy Analyst
     101 S. Edgeworth Street
     Greensboro, NC 27401
     Fax: 336-358-4185
     Email: susan_gattis@ncmba.uscourts.gov

                      About Color Landscapes

Color Landscapes by Michael Dickey, Inc. sought protection under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for
the Middle District of North Carolina (Greensboro) (Case No.
16-10435) on May 2, 2016.

The Debtor is represented by Dirk W. Siegmund, Esq., at Ivey,
McClellan, Gatton & Stegmund, LLP. The case is assigned to Judge
Lena M. James.

The Debtor disclosed total assets of $1.09 million and total debts
of $1.49 million.


CONGREGATION ACHPRETVIA: Withdraws Sale Motion
----------------------------------------------
Congregation Achpretvia Tal Chaim Sharhayu Shor, Inc., withdrew,
without prejudice, its motion asking the U.S. Bankruptcy Court to
approve bidding procedures, as well as its entry into a stalking
horse contract and bid protections in connection with the sale of
its real property located at 163 East 69th Street, in New York.

The Debtor has entered into the Stalking Horse Contract with 69th
Street Capital LLC for $14 million, a price that is more than $4
million more than the Prepetition Contract.

As previously reported by The Troubled Company Reporter, the
Purchaser filed a motion seeking for the dismissal of the Debtor's
Chapter 11 case, contending that the Case was filed in order to
remove from the Court a pending state court action commenced by the
Purchaser for specific performance of a prepetition contract for
the sale of the Debtors' vacant building (its sole asset), located
at 163 East 69th Street, New York.

According to the Debtor, the Purchaser said the Sale Motion should
either be adjourned until after the Court decides on the Dismissal
Motion or it should be denied for granting the same would only
generate significant administrative expenses without any return for
the estate.  The only thing that a sale process would accomplish
would be to expose the estate to additional administrative fees --
for damages claim that the Purchaser may assert against the Debtor
for potential breach of the Debtor's prepetition sale contract with
the Purchaser -- and for any expenses incurred in connection with
the sale process, the Purchaser said.  

Congregation Achpretia Tal Chaim Shar Hayushor, Inc. is represented
by:

       A. Mitchell Greene
       ROBINSON BROG LEINWAND GREENE GENOVESE & GLUCK P.C.
       875 Third Avenue
       New York, New York 10022
       Telephone: (212) 603-6300
       Email: amg@robinsonbrog.com

163 East 69 Realty, LLC is represented by:

       Frederick E. Schmidt, Jr., Esq.
       COZEN O’CONNOR
       277 Park Avenue
       New York, NY  10172
       Telephone: (212) 883-4900
       Facsimile: (646) 588-1552
       Email: eschmidt@cozen.com

             About Congregation Achpretvia

Congregation Achpretvia Tal Chaim Sharhayu Shor, Inc., in Brooklyn,
New York, filed for Chapter 11 bankruptcy protection (Bankr.
S.D.N.Y. Case No. 16-10092) on Jan. 15, 2016.  Judge Michael E.
Wiles presides over the case.  Arnold Mitchell Greene, Esq., at
Robinson Brog Leinwand Greene Genovese & Gluck P.C., serves as the
Debtor's counsel.  In its petition, the Congregation listed total
assets of $18 million and total liabilities of $472,502.  The
petition was signed by Harold Friedlander, vice president.


CROSSROADS INVESTORS: Court Affirms Order Denying Anti-SLAPP Bid
----------------------------------------------------------------
This appeal challenges the trial court's denial of defendant
Federal National Mortgage Association's (Fannie Mae) special motion
to strike the complaint under Code of Civil Procedure section
425.16, otherwise known as the anti-SLAPP statute.  The Defendant
initiated nonjudicial foreclosure proceedings against property
owned by plaintiff Crossroads Investors, L.P., but Crossroads filed
for bankruptcy protection, staying the proceedings. Fannie Mae sold
the property after it was granted relief from the bankruptcy stay.
Crossroads then sued Fannie Mae for wrongful foreclosure, breach of
contract, fraud, and other tort and contract actions. Fannie Mae
filed an anti-SLAPP motion, contending the actions on which
Crossroads based its complaint were Fannie Mae's statements in its
papers filed in the bankruptcy proceeding. The trial court
disagreed and denied the motion.

The Court of Appeals of California, Third District, Yolo, affirmed
the trial court's order denying the anti-SLAPP motion. The
principal thrust of Crossroads' action was to recover for
violations of state nonjudicial foreclosure law, not for any
exercise of speech or petition rights by Fannie Mae. Even if
protected activity was not merely incidental to the unprotected
activity, Crossroads established a prima facie case showing it was
likely to succeed on its causes of action.

A full-text copy of the Decision dated April 14, 2016 is available
at http://is.gd/t3SxFPfrom Leagle.com.

The case is CROSSROADS INVESTORS, L.P., Plaintiff and Respondent,
v. FEDERAL NATIONAL MORTGAGE ASSOCIATION, Defendant and Appellant,
No. C072585.

Buchalter Nemer, Jeffrey S. Wruble, Esq. -- jwruble@buchalter.com,
Efrat M. Cogan, Esq. -- ecogan@buchalter.com and Oren Bitan, Esq.
-- obitan@buchalter.com for Defendant and Appellant.

Law Offices of Melinda Jane Steuer and Melinda Jane Steuer, Esq.
for Plaintiff and Respondent.


CUSTOM SOFTWARE: Wants Plan Filing Deadline Moved to Sept. 30
-------------------------------------------------------------
Custom Software Inc., et al., ask Bankruptcy Judge Daniel S.
Opperman to extend their deadline to file a combined plan and
disclosure statement to September 30, 2016.

As part of the Court's Case Management Order, the Court determined
that the Debtor's Chapter 11 Plan should be filed on or about June
6, 2016.  The Court also indicated that any that any request to
extend the deadline for filing of the plan must be filed by May 7,
2016.

The Debtors seek an extension of the filing deadline for these
reasons:

     A. The Debtors' major secured creditor is in the process of
conducting an appraisal on substantially all of the Debtors' assets
and this appraisal is integral to any Chapter 11 Plan;

     B. The Debtors' business is seasonal and late spring commences
its busy season, which continues until mid-September.

The Debtors contend that the filing deadline should be extended so
they can better determine the projected cash flow of the business
as well as have access to the completed appraisal in this matter.

The Debtors are represented by:

     LAMBERT LESER, Attorneys at Law
     Rozanne M. Giunta, Esq.
     916 Washington Ave, Ste. 309
     Bay City, MI 48708
     Tel: (989) 893-3518
     E-mail: rgiunta@lambertleser.com

Custom Software, Inc. -- dba M33 Access, TWD Communications,
Net4Kids.com, Inc. -- based in Rose City, Mich., filed a Chapter 11
petition (Bankr. E.D. Mich. Case No. 16-20173) on February 5, 2016,
listing $100,000 to $500,000 in assets and $1 million to $10
million in liabilities.  Judge Daniel S. Opperman presides over the
case.  Rozanne M. Giunta, Esq., at LAMBERT LESER, ATTORNEYS AT LAW,
serves as counsel to the Debtor.  The petition was signed by Glenn
A. Wilson Sr., president.


DEX MEDIA: S&P Lowers Rating on Debt to 'CC'
--------------------------------------------
Standard & Poor's Ratings Services lowered its issue-level ratings
on debt issued by U.S.-based yellow pages publisher Dex Media
Inc.'s subsidiaries -- R.H. Donnelley Inc., Dex Media East Inc.,
Dex Media West Inc., and SuperMedia Inc. -- to 'CC'.  The recovery
ratings are unchanged.  At the same time, S&P removed the ratings
from CreditWatch, where it had placed them with negative
implications on Oct. 1, 2015.

The rating actions follow Dex Media's announcement that it has
entered into a restructuring support agreement with lenders holding
66% of its senior secured credit facilities and more than 65% of
its senior subordinated notes.  The company intends to file a
voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in
the third quarter of 2016 once it receives sufficient votes to
confirm the plan.

Under the terms of the agreement, Dex Media's senior secured
lenders will exchange about $2.12 billion term loans for a new $600
million new first-lien term loan, balance sheet cash (subject to
minimum cash needs and other deductions), and nearly all of the
post-reorganized equity.  The unsecured noteholders will receive a
$5 million cash payment and warrants to purchase up to 10% of the
post-reorganized equity.

RATINGS LIST

Dex Media Inc.
Corporate Credit Rating              SD/--/--

Downgraded; CreditWatch Action; Recovery Ratings Unchanged

Dex Media East Inc.
Dex Media West Inc.
SuperMedia Inc.
Senior Secured                         CC        CCC/Watch Neg
  Recovery Rating                       4H        4H

R.H. Donnelley Inc.
Senior Secured                         CC        CCC-/Watch Neg
  Recovery Rating                       5H        5H

Rating Unaffected; Recovery Rating Unchanged

Dex Media Inc.
Subordinated                           D
  Recovery Rating                       6

SD--Selective default.



DOVER DOWNS: Incurs $239,000 Net Loss in First Quarter
------------------------------------------------------
Dover Downs Gaming & Entertainment, Inc., filed with the Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $239,000 on $44.7 million of revenues for
the three months ended March 31, 2016, compared to a net loss of
$352,000 on $44.3 million of revenues for the same period in 2015.

As of March 31, 2016, Dover Downs had $168 million in total assets,
$53.2 million in total liabilities and $115 million in total
stockholders' equity.

"As of March 31, 2016, we had total outstanding long-term debt of
$31,000,000 under our credit facility.  The facility is classified
as a current liability as of March 31, 2016 in our consolidated
balance sheets as the facility expires on September 30, 2016.  We
will seek to refinance or extend the maturity of this obligation
prior to its expiration date; however, there is no assurance that
we will be able to execute this refinancing or extension or, if we
are able to refinance or extend this obligation, that the terms of
such refinancing or extension would be as favorable as the terms of
our existing credit facility.  These factors raise substantial
doubt about our ability to continue as a going concern."

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

                       http://is.gd/SNe0Uw

                        About Dover Downs

Owned by Dover Downs Gaming & Entertainment, Inc. (NYSE: DDE),
Dover Downs Hotel & Casino(R) is a gaming and entertainment resort
destination in the Mid-Atlantic region.  Gaming operations consist
of approximately 2,500 slots and a full complement of table games
including poker.  The AAA-rated Four Diamond hotel is Delaware's
largest with 500 luxurious rooms/suites and amenities including a
full-service spa/salon, concert hall and 41,500 sq. ft. of multi-
use event space.  Live, world-class harness racing is featured
November through April, and horse racing is simulcast year-round.
Professional football parlay betting is accepted during the
season.  Additional property amenities include multiple
restaurants from fine dining to casual fare, bars/lounges and
retail shops.  Visit http://www.doverdowns.com/     

The Company's auditors, KPMG LLP, in Philadelphia, Pennsylvania,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2015, citing that
the Company's credit facility expires on Sept. 30, 2016, and at
present no agreement has been reached to refinance the debt.


EAST CLEVELAND, OH: Wants to File for Bankruptcy
------------------------------------------------
The American Bankruptcy Institute, citing Emily Bamforth of
cleveland.com, reported that the city of East Cleveland has asked
the state to approve a petition for municipal bankruptcy -- a step
that could give breathing room to the city's problems.

According to the report, the move, described as an "urgent matter"
in a letter from Mayor Gary Norton Jr. to state Tax Commissioner
Joseph Testa, is an effort to keep payroll going and to maintain
services.  Council President Thomas Wheeler said even if approved,
filing for bankruptcy would be a "Band-Aid" to keep the city going,
not a solution, the report related.

Norton said that the bankruptcy filing would be a temporary fix for
the cost side of the city's economic distress, but the real problem
is with income, the report further related.  There's simply not
enough revenue coming in to support the city, he said, and upping
taxes or adding fees won't provide an immediate solution, the
report said.

Changing the city's borders by merging with Cleveland would help in
many ways, Norton said, including creating possibilities for
economic development, giving the city financial tools, and adding
stability, the report added.  This is still a long-term solution,
he added, since money takes a while to flow in from economic
development, according to the report.


ELBIT IMAGING: Appoints Yael Naftali as Chief Financial Officer
---------------------------------------------------------------
Elbit Imaging Ltd. announced the appointment of Mrs. Yael Naftali
as the Company's chief financial officer effective May 1, 2016.
She replaced Mr. Doron Moshe who resigned from his role as the
Company's CFO and will continue to serve as the Company's CEO.

Mrs. Naftali's terms of office and employment as the Company's CFO
were approved by the Company's compensation committee and board of
directors.

Mrs. Naftali served as the Company's chief controller since 2010
and as a finance director since January 2015.

                       About Elbit Imaging

Tel-Aviv, Israel-based Elbit Imaging Ltd. (TASE, NASDAQ: EMITF)
holds investments in real estate and medical companies.  The
Company, through its subsidiaries, also develops shopping and
entertainment centers in Central Europe and invests in and manages
hotels.

Elbit Imaging reported a loss of NIS 186.15 million on NIS 1.47
million of revenues for the year ended Dec. 31, 2015, compared to
profit of NIS 1 billion on NIS 461,000 of revenues for the year
ended Dec. 31, 2014.  As of Dec. 31, 2015, Elbit Imaging had NIS
778.25 million in total assets, NIS 758.96 million in total
liabilities and NIS 19.28 million in shareholders' equity.

Since February 2013, Elbit has intensively endeavored to come to
an arrangement with its creditors.  Elbit has said it has been
hanging by a thread for more than five months.  It has encountered
cash flow difficulties and this burdens its day to day activities,
and it certainly cannot make the necessary investments to improve
its assets.  In light of the arrangement proceedings, and
according to the demands of most of the bondholders, as well as an
agreement that was signed on March 19, 2013, between Elbit and the
Trustees of six out of eight series of bonds, Elbit is prohibited,
inter alia, from paying off its debts to the financial creditors
-- and as a result a petition to liquidate Elbit was filed, and
Bank Hapoalim has declared its debts immediately payable,
threatening to realize pledges that were given to the Bank on
material assets of the Company -- and Elbit undertook not to sell
material assets of the Company and not to perform any transaction
that is not during its ordinary course of business without giving
an advance notice to the trustees.

Accountant Rony Elroy has been appointed as expert for examining
the debt arrangement in the Company.

In July 2013, Elbit Imaging's controlling shareholders, Europe-
Israel MMS Ltd. and Mr. Mordechay Zisser, notified the Company
that the Tel Aviv District Court has appointed Adv. Giroa Erdinast
as a receiver with regards to the ordinary shares of the Company
held by Europe Israel securing Europe Israel's obligations under
its loan agreement with Bank Hapoalim B.M.  The judgment stated
that the Receiver is not authorized to sell the Company's shares
at this stage.  Following a request of Europe-Israel, the Court
also delayed any action to be taken with regards to the sale of
those shares for a period of 60 days.  Europe Israel and
Mr. Zisser have also notified the Company that they utterly reject
the Bank's claims and intend to appeal the Court's ruling.


ENCLAVE AT HILLSBORO: Plan Confirmation Hearing on June 15
----------------------------------------------------------
The jointly administered debtors, Enclave at Hillsboro, LLC,
Hillsboro Mile Properties, LLC, Antipodean Properties, LLC, Remi
Hillsboro, LLC, Kerekes Land Trust Properties, LLC, Estates of
Boynton Waters Properties, LLC, Enclave at Boynton Waters
Properties, LLC and Lake Placid Waterfront Properties, LLC ask the
U.S. Bankruptcy Court for the Southern District of Florida to
extend the time within which they have the exclusive right to
solicit acceptances for their Chapter 11 plan, through and
including June 20, 2016, without prejudice to seeking further
extensions in the event circumstances require such relief.

On November 15, 2015, the Debtors and their largest secured
creditor, BI Boca Boynton Portfolio, LLC, entered into a settlement
agreement that resolved inter alia the allowed amount of BI Boca's
claim, BI Boca's motions to dismiss and for stay relief, and
provides the Debtors through November 14, 2016 to pay BI Boca's
allowed claim in full.  On November 25, 2015, the Court entered an
order approving the settlement, and on December 16, the Court
overruled 13th Floor Investments, LLC's objection to the
settlement.

On February 22, 2016, the Debtors, 13th Floor and other parties
attended a judicial settlement conference, and after, in March
2016, the parties entered into a settlement agreement that is the
subject of the Debtors' Motion to Approve Settlement Agreement
scheduled for hearing on May 5.

On March 7, 2016, the Debtors filed their Plan of Reorganization
and on April 26, in order to resolve issues raised by BI Boca, the
Debtors filed their Amended Plan of Reorganization.  On April 26,
the Debtors filed their Disclosure Statement and on May 2, the
Court entered an Order approving the disclosure statement and
setting the confirmation hearing for June 15.

On February 11, 2016, the Court entered an Order that extended the
Exclusive Filing Period to March 7, 2016 and extended the Exclusive
Solicitation Period to May 6, 2016.

The Debtors are in the process of marketing certain of their real
properties.

             About Enclave at Hillsboro, LLC, et al.

Enclave at Hillsboro, LLC, Hillsboro Mile Properties, LLC,
Antipodean Properties, LLC, Remi Hillsboro, LLC, Kerekes Land Trust
Properties, LLC, Estates of Boynton Waters Properties, LLC, Enclave
at Boynton Waters Properties, LLC and Lake Placid Waterfront
Properties, LLC own real property, which on a consolidated basis
are valued at $125,050,000 based on offers received and $66,781,178
based on the property tax assessed value.

Enclave at Boynton Waters Properties, LLC, et al., filed Chapter
11
bankruptcy petitions (Bankr. S.D. Fla. Case Nos. 15-26141,
15-26143, 15-26148, 15-26152, 15-26155, 15-26156, 15-26162 and
15-26165) on Sept. 8, 2015.  The petitions were signed by John B.
Kennelly as manager.  Erik P. Kimball is assigned to the
first-filed case (15-26141).

On Oct. 7, 2015, the Court ordered that the Debtor's cases will be
jointly administered under Lead Case No. 15-26155.

The Debtors own various parcels of real property that constitute
the collateral of the same secured lender, BI Boca Boynton
Portfolio, LLC.

Counsel to the Debtors:

     Bernice C. Lee, Esq.
     SHRAIBERG, FERRARA & LANDAU, P.A.
     2385 NW Executive Center Drive, #300
     Boca Raton, FL 33431
     Telephone: 561-443-0800
     Facsimile: 561-998-0047
     E-mail: blee@sfl-pa.com


ENERGY FUTURE: Court Sets May 23 Hearing on New Plan Schedule
-------------------------------------------------------------
U.S. Bankruptcy Judge Christopher S. Sontchi denied Energy Future
Holdings Corp.'s request to shorten the notice period in connection
with the Debtors' "Motion for Entry of an Order Scheduling Certain
Hearing Dates and Deadlines and Establishing Certain Protocols in
Connection with the Confirmation of Debtors' Joint Plan of
Reorganization and The Approval of Debtors' Disclosure Statement".
The Court said the request is not in the best interests of the
Debtors, their estates and creditors, and all parties in interest.

Energy Future Holdings Corp., et. al., on May 1, 2016, filed with
the Bankruptcy Court a New Joint Plan of Reorganization that
presents alternative options to exit Chapter 11.  The Debtors asked
the Court to enter an order:

     (a) approving the Disclosure Statement for the Joint Plan of
Reorganization of Energy Future Holdings Corp., et. al., Pursuant
to Chapter 11 of the Bankruptcy Code (as modified, amended or
supplemented from time to time);

     (b) establishing the voting record date, voting deadline, and
other related dates;  and

     (c) approving procedures for soliciting, receiving, and
tabulating votes on the Joint Plan of Reorganization of Energy
Future Holdings Corp., et. al., Pursuant to Chapter 11 of the
Bankruptcy Code (as modified, amended or supplemented from time to
time).

The Court will hold a hearing on the Scheduling Motion for May 23
at 10:00 a.m. -- instead of May 18, as the Debtors requested.

Objections to the Scheduling Motion are due May 16.  The Debtors'
responses are due May 18.

As reported by the Troubled Company Reporter, the Debtors on April
14, 2015, filed a joint plan of reorganization and a related
disclosure statement with the Bankruptcy Court.  The Initial Plan,
among other things, provided for (a) a spin-off of reorganized
Texas Competitive Electric Holdings Company LLC -- Reorganized TCEH
Spin-Off -- and (b) the separate reorganization of EFH Corp. and
EFIH. From July to September 2015, following negotiations with
various creditor groups and third parties regarding a plan of
reorganization for the Debtors, the Debtors filed multiple amended
joint plans of reorganization and related disclosure statements.

On December 9, 2015, following approval by the applicable creditors
of the Debtors, the Bankruptcy Court entered an amended order
confirming the Debtors' Sixth Amended Joint Plan of Reorganization
Pursuant to Chapter 11 of the Bankruptcy Code.

On September 11, 2015, each of the Debtors entered into an Amended
& Restated Plan Support Agreement with (i) various of their
respective creditors, (ii) the sponsor equity owners of EFH Corp.,
(iii) the official committee of unsecured creditors of EFCH, TCEH
and the subsidiaries of TCEH that are Debtors in the Chapter 11
Cases, and (iv) other third parties, in order to effect an agreed
upon restructuring of the Debtors pursuant to the Confirmed Plan.

On May 1, 2016, certain first lien creditors of TCEH -- Required
TCEH First Lien Creditors -- delivered a written notice to the
Debtors and the other parties to the Plan Support Agreement
notifying such parties of the occurrence of a Plan Support
Termination Event pursuant to Section 11(g) of the Plan Support
Agreement, which entitles the Required TCEH First Lien Creditors to
deliver a Plan Support Termination Notice after April 30, 2016,
unless the Plan Support Outside Date has been extended.  The Plan
Support Termination Notice states that the Plan Support Outside
Date can only be extended beyond April 30, 2016 if: (i) all
required approvals from the Public Utility Commission of Texas with
respect to the consummation of the Confirmed Plan have been
obtained before such date, or (ii) the Required Investor Parties
submit a written request, which is received by the Required TCEH
First Lien Creditors no later than April 30, 2016, to extend the
Plan Support Outside Date for  30 days. The Plan Support
Termination Notice states that neither of the foregoing extensions
has been triggered as of the date of the Plan Support Termination
Notice.

The delivery of the Plan Support Termination Notice caused the
Confirmed Plan to become null and void. The delivery of the Plan
Support Termination Notice does not terminate the obligations of
certain of the parties to not object to or interfere with an
alternative restructuring so long as it meets certain minimum
conditions.

                  Merger and Purchase Agreement

On August 9, 2015, EFH Corp. and EFIH entered into a Purchase
Agreement and Agreement and Plan of Merger with two acquisition
entities, Ovation Acquisition I, L.L.C. ("OVI") and Ovation
Acquisition II, L.L.C., which are controlled by a consortium
consisting of certain TCEH unsecured creditors, an affiliate of
Hunt Consolidated, Inc. ("Hunt") and certain other investors
designated by Hunt, pursuant to which the Purchasers agreed to
acquire reorganized EFH Corp. (the "EFH Acquisition").

On May 1, 2016, following receipt of the Plan Support Termination
Notice, EFH Corp. and EFIH delivered a written notice to the
Purchasers notifying the Purchasers that EFH Corp. and EFIH
terminate the Merger and Purchase Agreement pursuant to Section
8.3(g) of the Merger and Purchase Agreement, which provides EFH
Corp. and EFIH with a termination right upon the occurrence of a
"Plan Support Termination Event" under the Plan Support Agreement.
A Plan Support Termination Event occurred on May 1, 2016.

Upon the termination of the Merger and Purchase Agreement, no party
will have any ongoing liabilities or obligations to any other party
thereto, except as expressly set forth in the Merger and Purchase
Agreement. The Merger and Purchase Agreement does not provide for
the payment of any termination fee by EFH Corp., EFIH or the
Purchasers in connection with the termination of the Merger and
Purchase Agreement.

As a result of the termination of the Merger and Purchase
Agreement, the equity commitment letter delivered by each member of
the Investor Group in favor of EFH Corp., EFIH and the Purchasers
in connection with the execution of the Merger and Purchase
Agreement automatically terminated.

                        Backstop Agreement

On August 9, 2015, EFH Corp. and EFIH entered into a Backstop
Agreement with certain investors named therein and their permitted
assignees and OV1, pursuant to which the Backstop Purchasers agreed
to backstop $5,087,250,000 of equity rights offered to certain of
the holders of unsecured debt claims, second lien debt claims,
general unsecured claims and first lien secured claims against
TCEH.

The Backstop Agreement and the obligations of the parties thereto
automatically terminated upon the termination of the Merger and
Purchase Agreement.  Upon the termination of the Backstop
Agreement, no party will have any ongoing liabilities or
obligations to any other party thereto, other than those
obligations expressly set forth in the Backstop Agreement. The
Backstop Agreement does not provide for the payment of any
termination fee by EFH Corp., EFIH or the Backstop Purchasers in
connection with the termination of the Backstop Agreement.

                              New Plan

Following the occurrence of the Plan Support Termination Event, the
Debtors filed a new joint plan of reorganization pursuant to
Chapter 11 of the Bankruptcy Code and a related disclosure
statement.   A summary of the New Plan was reported by the Troubled
Company Reporter on May 3, 2016.

The TCR also reported that the Debtors have proposed this
confirmation schedule:

     a. Monday, May 2, 2016, shall be the date on which
Participating Parties may begin serving written discovery requests
and all written discovery requests must be served no later than
Monday, May 9, 2016, at 4:00 p.m. (prevailing Eastern Time).

     b. Thursday, June 30, 2016, shall be the date on which all
fact discovery shall be complete.

     c. Wednesday July 20, 2016, shall be the date on which all
expert discovery shall be complete.

     d. Friday, July 22, 2016, shall be the deadline by which any
party, including the Participating Parties, must file any
objections to the New Plan.

     e. Friday, July 29, 2016, shall be the deadline by which the
Debtors must file their reply to all timely objections to the New
Plan.

     f. Monday, August 1, 2016, shall be the date of the start of
the hearing to approve the New Plan.

The Debtors also propose that votes on the new Plan be cast by
July
22, 2016.

A copy of the New Plan is available at http://is.gd/fB4Tnt

A copy of the Disclosure Statement is available at
http://is.gd/VN2ebg

           About Energy Future

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

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

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

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

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

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

The Debtors are represented by Kirkland & Ellis LLP and Richards,
Layton & Finger, P.A.  Co-Counsel to the Debtor Energy Future
Holdings Corp. are Proskauer Rose LLP and Bielli & Klauder LLC;
Co-Counsel to the Debtor Energy Future Intermediate Holding
Company
LLC are Cravath, Swaine And Moore LLP and Stevens & Lee, P.C.; and
Co-Counsel to the TCEH Debtors are Munger, Tolles & Olson LLP and
McElroy, Deutsch, Mulvaney  & Carpenter, LLP.

The Debtors' financial advisor is Evercore Partners and the
restructuring advisor is Alvarez & Marsal.  

The TCEH first lien lenders supporting the restructuring agreement
are represented by Paul, Weiss, Rifkind, Wharton & Garrison, LLP
as
legal advisor, and Millstein & Co., LLC, as financial advisor.

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

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

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


ENERGY FUTURE: Fee Committee Hires Benesch as Delaware Co-Counsel
-----------------------------------------------------------------
The Fee Committee of Energy Future Holdings Corp., et al, seeks
authority from the U.S. Bankruptcy Court for the District of
Delaware to employ Benesch Friedlander Coplan & Aronoff, LLP as
Delaware co-counsel to the Fee Committee, nunc pro tunc to April 7,
2016.

The Fee Committee requires Benesch to:

   a. read and file all applications, motions, responses,
      objections, and other pleadings in these chapter 11 cases
      as may be necessary and as authorized by the Fee Committee;

   b. appear on behalf of and represent the Fee Committee in the
      Debtors' bankruptcy cases at hearings, meetings, and
      proceedings, as appropriate;

   c. appear on behalf of the Fee Committee with respect to any
      proceedings in which it may become a party;

   d. perform all other necessary services which the Fee
      Committee may authorize as may be appropriate in connection
      with these cases;

Benesch will be paid at these hourly rates:

    Billing Category                        Rate

      Jennifer R. Hoover, Partner            $460
      William M. Alleman, Jr., Associate     $325
      Celeste A. Hartman, Paralegal          $270

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

To the best of the Fee Committee's 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.

Benesch can be reached at:

     Jennifer R. Hoover
     BENESCH FRIEDLANDER COPLAN & ARONOFF, LLP
     222 Delaware Avenue, Suite 801
     Wilmington, DE 19801
     Tel: (302) 442-7010
     Fax: (302) 442-7012

                       About Energy Future

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

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

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

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

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

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

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

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

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

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


EUBANKS EXCAVATING: 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 Eubanks Excavating Inc.

Eubanks Excavating Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Fla., Case No. 16-40161) on April 6,
2016.  The Debtor is represented by Robert C. Bruner, Esq.


EV ENERGY: Moody's Changes Prob. of Default Rating to Caa2-PD/LD
----------------------------------------------------------------
Moody's Investors Service changed EV Energy Partner's (EVEP)
Probability of Default Rating to Caa2-PD/LD from Caa2-PD, while
affirming its Caa2 Corporate Family Rating and its Caa3 senior
unsecured notes rating. Moody's also affirmed its SGL-4 Speculative
Grade Liquidity Rating. The ratings outlook is stable.

The change to the Probability of Default Rating stems from EVEP's
disclosure that it has repurchased $73 million of existing senior
unsecured notes for $30 million in cash at an average price of 41%
of par. When combined with note repurchases completed in the fourth
quarter of 2015, EVEP has bought $147 million of the original $500
million issue at an average price of 54% of par. Moody's considers
EVEP's repurchase of unsecured debt at such a deep discount to par
as a distressed exchange for its senior unsecured debt, which we
view as a default. As noted above, Moody's appended the Caa2-PD PDR
with an "/LD" designation indicating limited default, which will be
removed after three business days.

Affirmations:

Issuer: EV Energy Partners, L.P.

-- Probability of Default Rating, Affirmed Caa2-PD /LD (/LD
    appended)

-- Speculative Grade Liquidity Rating, Affirmed SGL-4

-- Corporate Family Rating, Affirmed Caa2

-- Senior Unsecured Regular Bond/Debenture, Affirmed Caa3 (LGD 5)

Outlook Actions:

Issuer: EV Energy Partners, L.P.

-- Outlook, Remains Stable

RATINGS RATIONALE

The Caa2 Corporate Family Rating (CFR) reflects EVEP's high
financial leverage, declining production, limited scale upstream
operations, natural gas-weighted production and reserves, and its
MLP structure, which requires high distributions and periodic
acquisitions. The rating is supported by EVEP's mature, low-decline
wells, high proportion (83%) of proved developed reserves, modestly
diversified operations and a meaningful level of commodity price
protection for its 2016 production.

Liquidity Analysis

“The SGL-4 Speculative Grade Liquidity Rating reflects our view
that EVEP may need covenant relief in the fourth quarter of 2016,
even when considering the easing of covenant levels provided by an
amendment to the revolver in April 2016. At April 27, 2016, EVEP's
liquidity consisted of $165 million in availability under its
secured revolving credit facility. EVEP's borrowing base under its
revolver is $450 million and will be redetermined in October 2016.
Financial covenants under the revolver require EVEP to maintain
senior secured debt to EBITDAX of no more than 3.0x in 2016, easing
to 3.5x for the first two quarters of 2017, and EBITDAX/Interest
coverage of at least 2.5x through the first three quarters of 2016
and then stepping down to 2x through the first half of 2017. EVEP's
next debt maturity is on its senior notes, which are due in 2019.
The revolver matures in 2020.”

Structural Considerations

EVEP's senior unsecured notes are rated Caa3. Their subordinate
position relative to the secured revolving credit facility's
priority claim to substantially all of the partnership's assets
results in the notes being rated one notch below the Caa2 CFR under
Moody's Loss Given Default Methodology.

Rating Outlook

The stable outlook assumes that EVEP will maintain adequate
liquidity. The rating could be downgraded to Caa3 if liquidity
weakens materially. The rating could be upgraded to Caa1 if 2017
EBITDA to interest appears likely to remain above 1.5x and
liquidity is adequate.

EV Energy Partners, L.P. (EVEP) is a publicly traded oil and gas
exploration and production (E&P) master limited partnership (MLP)
headquartered in Houston, Texas. At December 31, 2015 EVEP had
proved reserves of 183 million barrels of oil equivalent (68%
natural gas, 83% developed). The MLP is controlled by two general
partners (GPs) - EnerVest and EnCap. EnerVest and EVEP's management
owns 76.25% of the GP and EnCap owns 23.75%. EnerVest, EVEP's
management and EVEP's board also own 10% of the limited partnership
(LP) units.



FAIRWAY GROUP: Moody's Lowers PDR to D-PD on Ch. 11 Filing
----------------------------------------------------------
Moody's Investors Service downgraded Fairway Group Acquisition
Company's Probability of Default Rating to D-PD from Caa2-PD.

The downgrade was prompted by the company's announcement that
Fairway Group Holdings Corp and certain of its subsidiaries have
filed a Joint Prepackaged Chapter 11 Plan of Reorganization and
filed voluntary petitions for protection under Chapter 11 of the
U.S. Bankruptcy Code in the United States Bankruptcy Court for the
Southern District of New York.

                        RATINGS RATIONALE

Subsequent to the actions, Moody's will withdraw the ratings
because Fairway has entered bankruptcy.

These ratings were downgraded and will be withdrawn:

  Corporate Family Rating to Ca from Caa2

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

  $40 million senior secured revolving credit facility maturing
   2017 to Ca (LGD3) from Caa2 (LGD3)

  $267 million senior secured term loan maturing 2018 at Ca (LGD3)

   from Caa2 (LGD3)

These ratings are affirmed and will be withdrawn:
  Speculative Grade Liquidity Rating at SGL-4

Outlook:
Stable

The principal methodology used in this rating was the Retail
Industry published in October 2015.

Fairway is a publicly traded grocery store operator with 15 grocery
stores and 4 wine stores in New York, New Jersey and Connecticut.
Sterling Investment Partners owns about 27% of the company'a class
A common stock.  Revenues totaled $764 million for the LTM period
ending Dec. 27, 2015.



FAIRWAY GROUP: S&P Lowers CCR to 'D' on Chap. 11 Filing
-------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on
U.S.-based specialty grocer Fairway Group Holdings Corp. to 'D'
from 'CCC-'.

At the same time, S&P lowered its issue-level rating on the
company's senior secured credit facility to 'D' from 'CC'.  The
recovery rating on these notes is '5', indicating S&P's expectation
of modest recovery, at the higher end of the 10% to 30% range.  S&P
will review this recovery rating in conjunction with its analysis
of the company's proposed debtor-in-possession (DIP) facility in
the coming weeks.

"The 'D' rating reflects Fairway's announcement that it has filed
for a Chapter 11 prepackaged bankruptcy agreement with certain
creditors in order to reorganize," said credit analyst Declan
Gargan.

In S&P's view, Fairway's challenges reflect the heightened
competitive environment in the New York City metropolitan area,
which S&P do not expect to abate.  In the third quarter (which is
the most recent available), same-store sales declined 7.5%, driven
by an 8.5% reduction in customer transactions, largely S&P believes
a result of lost market share to Whole Foods' Upper East side
location.



FPMC SAN ANTONIO: Judge Orders Dismissal of Chapter 11 Case
-----------------------------------------------------------
A federal judge has ordered the dismissal of the Chapter 11 case of
FPMC San Antonio Realty Partners, LP.

The order, issued by Judge Craig Gargotta of the U.S Bankruptcy
Court for the Western District of Texas, dismissed the company's
bankruptcy case at the request of the U.S. trustee, the Justice
Department's bankruptcy watchdog.

The U.S. trustee proposed the dismissal of the case after FPMC San
Antonio's secured lender foreclosed on its property, which is the
company's only source of income.

Without any source of income, the company could no longer fund a
restructuring plan, the U.S. trustee argued.

                      About FPMC San Antonio

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

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

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

Judge Craig A. Gargotta is assigned to the case.

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

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

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


FREEDOM COMMUNICATIONS: Judge Denies LMG's Bid to Turn Over Funds
-----------------------------------------------------------------
LMG National Publishing Inc. has failed to convince a bankruptcy
judge to force Freedom Communications Inc. to turn over the money
it collected to the company.

Judge Mark Wallace of the U.S. Bankruptcy Court for the Central
District of California denied the motion of LMG to force Freedom
Communications to turn over the sum of $647,868 that it collected
on behalf of the company.

LMG bought the assets of Victor Valley Publishing Co. and two other
affiliates of Freedom Communications.  In connection with the sale,
the companies entered into a deal under which Freedom
Communications agreed to provide services during the transition in
ownership.  

Freedom Communications continued collecting revenues on behalf of
LMG following the acquisition.  The company allegedly did not
return $647,868 of the $1.47 million it collected, according to
court filings.

                     About Freedom Communications

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

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

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

Freedom Communications, Inc., et al., filed Chapter 11 bankruptcy
petitions (Bankr. C.D. Cal. Proposed Lead Case No. 15-15311) on
Nov. 1, 2015. Richard E. Mirman signed the petition as chief
executive officer. Lobel Weiland Golden Friedman LLP serves as the
Debtors' counsel.

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

                           *     *     *

In March 2016, Tribune Publishing won an auction for the assets of
Freedom Communications.  However, at a hearing on March 21, the
bankruptcy judge approved the sale of Freedom to Digital First
Media, Inc., the stalking horse bidder.

Tribune Publishing was ultimately declared the winning bidder at
the March 16 bankruptcy auction.  The $56 million deal, however,
was challenged by the U.S. government, which filed a lawsuit on
March 17 in U.S. District Court in Los Angeles, Calif.  The
goverment sought to block Tribune from closing its acquisition of
Freedom's assets, saying the sale poses antitrust issues.

Because Freedom Communications was to run out of operating capital
by the end of March, it asked the Court to be allowed to name
Digital First Media as the successful bidder.  DFM's offer was
about $52 million.


FUHU INC: Judge Sets June 28 Deadline for Filing Claims
-------------------------------------------------------
A federal judge approved the deadline proposed by Arctic Sentinel
Inc., formerly Fuhu Inc., for filing pre-bankruptcy claims against
the company.

The order, issued by U.S. Bankruptcy Judge Christopher Sontchi,
requires creditors to file a proof of their claims on or before
June 28, 2016, at 4:00 p.m. (prevailing Pacific time).

This deadline is called a "bar date" because it means that
creditors who come forward after that date may be "barred" from
ever filing a claim against the company.

The court order also requires all governmental units that have
claims against the company to submit a proof of their claims on or
before the June 28 deadline.

                        About Fuhu, Inc.

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

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

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

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

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors. Cooley LLP represents
the committee.

                          *     *     *

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


FUTURE HEALTHCARE: Reports $17,000 Net Income for First Quarter
---------------------------------------------------------------
Future Healthcare of America filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing
net income available to common shareholders of $16,944 on $1.05
million of total revenue for the three months ended march 31, 2016,
compared to a net loss available to common shareholders of $249,684
on $929,921 of total revenue for the same period in 2015.

As of March 31, 2016, Future Healthcare had $1.03 million in total
assets, $1.48 million in total liabilities and a total
stockholders' deficit of $447,176.

Cash on hand was $434,173 at March 31, 2016, a decrease of $46,942
from the $481,115 on hand at Dec. 31, 2015.  Cash used in
operations for the three months ended March 31, 2016, was $46,942,
versus cash used in operation of $148,075 for the three months
ended March 31, 2015.  The increase is a result of the first
quarter increased profitability of operations in the Company's
Casper and Billings locations.

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

                   http://is.gd/AHYEAQ

                  About Future Healthcare

Pittsburgh, Pennsylvania-based Future Healthcare of America (FHA)'s
wholly owned subsidiary Interim Healthcare of Wyoming, Inc.
(Interim) is an independent franchisee of Interim HealthCare that
provides a wide range of visiting nurse services to the elderly,
wounded and sick.  Interim is one of the 300 independent home
health agencies that comprise the Interim HealthCare network,
operating primarily in Wyoming and Montana.

Future Healthcare reported a net loss of $249,319 on $4 million of
revenue for the year ended Dec. 31, 2015, compared to a net loss of
$1.56 million on $3.81 million of revenue for the year ended Dec.
31, 2014.

As of Dec. 31, 2015, Future Healthcare had $1.12 million in total
assets, $1.58 million in total liabilities and a $464,119 total
stockholders' deficit.

Gregory & Associates, LLC, in Salt Lake City, Utah, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has incurred
losses, an accumulated deficit and has a short-term note payable in
excess of anticipated cash.


GEORGIA PROTON: Seeks Dismissal of Involuntary Petition
-------------------------------------------------------
Petitioning creditors Zeitgeist Capital, LLC, et al., debtor
Georgia  Proton Treatment Holdings, LLC, and secured creditor Lulu
Limited ask the U.S. Bankruptcy Court for the District of Delaware
to dismiss the involuntary petition filed by the Petitioning
Creditors against the Debtor.

"The Alleged Debtor Georgia Proton Treatment Holdings LLC ("GPTH")
and its non-debtor subsidiary Georgia Proton Treatment Center LLC
("GPTC") are in the process of negotiating permanent financing that
would allow GPTC to commence business operations and in thereby
maximize value and increase recoveries for creditors and all
parties in interest.  Movants have been advised, however, that the
existence of this involuntary case impedes and puts at risk the
financing efforts that are well underway," the Movants aver.

The Movants relate that the Petitioning Creditors and Lulu have
entered into a confidential agreement with the goal of increasing
the likelihood that permanent financing for GPTC will be obtained.
They further relate that although Lulu and the Petitioning
Creditors have agreed to keep the specific terms of the agreement
confidential, the agreement generally provides that (i) the
Petitioning Creditors and Lulu will share in the funding of certain
expenses incurred prior to the permanent financing of GPTC, (ii)
the Petitioning Creditors and Lulu will share in the ultimate
recovery in respect of their individual claims against GPTH and
GPTC, and (iii) the Petitioning Creditors and Lulu will seek
dismissal of the Involuntary Petition.

"GPTC is the sole material asset of Alleged Debtor GPTH.  If GPTC
cannot complete its permanent financing, the value of GPTH's equity
interest in GPTC may be reduced to zero because of the liens and
claims currently asserted directly against GPTC.  If the permanent
financing is successful, however, value will be enhanced for the
benefit of GPTH and its creditors as well as the creditors of GPTC.
Accordingly, dismissal of the Involuntary Petition is in the best
interest of all parties in interest," the Movants contend.

Petitioning creditors Zeitgeist Capital, LLC, Cobalt, LLC and
Gryphon Resources, Inc., are represented by:

          Brian A. Sullivan, Esq.
          WERB & SULLIVAN
          300 Delaware Avenue Suite 1300, 13th Floor
          Wilmington, DE 19801
          Telephone: (302)652-1100
          Facsimile: (302)652-1111
          E-mail: bsullivan@werbsullivan.com

                - and -

          Michael J. Collins, Esq.
          BREWER, ATTORNEYS & COUNSELORS
          1717 Main Street, Suite 5900
          Dallas, TX 75201
          Telephone: (214)653-4000
          Facsimile: (214)653-1015
          E-mail: mjc@brewerattorneys.com

Georgia Proton Treatment Holdings is represented by:

          Margarita T.B. Coale, Esq.
          MILLER, EGAN, MOLTER & NELSON, LLP
          2911 Turtle Creek Boulevard, Suite 1100
          Dallas, TX 75219
          Telephone: (214)628-9516
          Facsimile: (214)628-9505
          E-mail: margarita.coale@milleregan.com

Lulu Limited is represented by:

          John H. Knight, Esq.
          Robert C. Maddox, Esq.
          RICHARDS, LAYTON & FINGER, P.A.
          920 N. King Street
          Wilmington, DE 19801
          Telephone: (302)651-7700
          Facsimile: (302)651-7701
          E-mail: knight@rlf.com
                  maddox@rlf.com


GLOBAL GEOPHYSICAL: Bid to Transfer Bush Seismic Suit Denied
------------------------------------------------------------
Judge Rodney Gilstrap of the United States District Court for the
Eastern District of Texas, Marshall Division, denied Defendant
Global Geophysical Services, Inc.'s Motion to Transfer Venue of the
case captioned BUSH SEISMIC TECHNOLOGIES LLC, Plaintiff, v.
AMERICAN GEM SOCIETY, ET AL. Defendant, Case No. 2:14-cv-1809-JRG
(E.D. Tex.).

After weighing all of the evidence, the Court finds that this case
should remain in the Eastern District of Texas. A motion to
transfer venue should only be granted if the moving party can show
that the transferee venue is "clearly more convenient" than the
transferor venue. Only one factor weighs in favor of transfer, with
the rest either weighing against transfer, neutral, or having no
application to this case. Global bears the burden of proving that
the Southern District of Texas is clearly more convenient than the
Eastern District of Texas. Global failed to meet that burden.

A full-text copy of the Memorandum Opinion and Order dated April
14, 2016 is available at http://is.gd/3EvdBPfrom Leagle.com.

David Folsom, Mediator, Pro Se.

Bush Seismic Technologies, LLC, Plaintiff, is represented by
Timothy Devlin, Esq. -- tdevlin@devlinlawfirm.com -- Devlin Law
Firm LLC & Robert Dean Kiddie, Jr., Esq. --
rkiddie@devlinlawfirm.com -- Devlin Law Firm LLC.

Bush Seismic Technologies, LLC, Consol Plaintiff, is represented by
Timothy Devlin, Devlin Law Firm LLC, pro hac vice & Robert Dean
Kiddie, Jr., Devlin Law Firm LLC.

Global Geophysical Services, Inc, Defendant, is represented by
Katherine Alexis Brooker, Esq. -- Baker Botts LLP & Omar Jesus
Alaniz, Esq. -- omar.alaniz@bakerbotts.com -- Baker Botts LLP.

           About Global Geophysical, Autoseis et al.

Global Geophysical Services Inc., a provider of seismic data for
the oil and gas drilling industry, sought bankruptcy protection,
intending to reorganize on its own with additional capital or
explore a sale or other transaction.

Based in Missouri City, Texas, Global Geophysical disclosed assets
of $468.7 million and liabilities totaling $407.3 million as of
Sept. 30, 2013.  Liabilities include $81.8 million on a secured
term loan owing to TPG Specialty Lending Inc. and Tennenbaum
Capital Partners LLC.  TPG is the lenders' agent.  Global also
owes
$250 million on two issues of 10.5 percent senior unsecured notes,
with Bank of New York Mellon Trust Co. as indenture trustee.

Global Geophysical and five affiliates, including Autoseis, Inc.
(lead debtor), filed Chapter 11 petitions in Corpus Christi, Texas
(Bankr. S.D. Tex. Lead Case No. 14-20130) on March 25, 2014.

The Debtors are represented by C. Luckey McDowell, Esq., Omar
Alaniz, Esq., and Ian E. Roberts, Esq., at Baker Botts, LLP, in
Dallas, Texas; and Shelby A. Jordan, Esq., and Nathanial Peter
Holzer, Esq., at Jordan, Hyden, Womble, Culbreth, & Holzer, PC in
Corpus Christi, Texas.  Alvarez & Marsal serves as the Debtors'
restructuring advisors, Fox Rothschild Inc. as financial advisor,
and Prime Clerk as claims and noticing agent.

The U.S. Trustee for Region 7 selected seven creditors to the
Official Committee of Unsecured Creditors.  The Committee tapped
Greenberg Traurig, LLP as counsel; and Lazard Freres & Co. LLC and
Lazard Middle Market LLC, as financial advisors and investment
bankers.

The Ad Hoc Group of Noteholders and the DIP Lenders are represented
by Marty L. Brimmage, Jr., Esq., Charles R. Gibbs, Esq., Michael S.
Haynes, Esq., and Lacy M. Lawrence, Esq., at Akin Gump Strauss
Hauer & Feld LLP.

Prepetition secured lender TPG is represented by David M. Bennett,
Esq., Tye C. Hancock, Esq., and Joseph E. Bain, Esq., at Thompson &
Knight LLP; and Adam C. Harris, Esq., Lawrence V. Gelber, Esq.,
David M. Hillman, Esq., and Brian C. Tong, Esq., at Schulte Roth &
Zabel LLP.


GOODMAN AND DOMINGUEZ: Court Extends Plan Exclusivity to Aug. 1
---------------------------------------------------------------
At the behest of Goodman and Dominguez, Inc. d/b/a Traffic;
Traffic, Inc.; Traffic Las Plazas, Inc.; and Traffic Plaza Del
Norte, Inc., Judge Robert A. Mark of the U.S. Bankruptcy Court for
the Southern District of Florida extended the Debtors' exclusive
period within which only they may:

     -- file a plan of reorganization through and including August
1, 2016; and

     -- solicit acceptances of a plan through and including
September 29, 2016.

The Debtors have indicated in their Motion to Extend Exclusivity
that the Official Committee of Unsecured Creditors supports the
requested extensions.

In their Motion, the Debtors explained that pursuant to the "Notice
of Chapter 11 Bankruptcy Case, Meeting of Creditors & Deadlines"
dated January 7, 2016, the general bar date for entities to file
proofs of claim is May 5, 2016.  The General Bar Date falls less
than one week after the current deadline of May 3, 2016 for the
Debtors to file a proposed plan.

In addition, the Bar Date Notice set a deadline of July 5, 2016
for
governmental units to file proofs of claim.  The Governmental Bar
Date falls almost two months after the current May 3 deadline for
the Debtors to file a proposed plan.

Further, the deadline for creditors to file any section 503(b)(9)
claims is June 6, 2016.

As of April 15, 2016, 44 proofs of claim have been filed.

The Debtors contend that, in order for them to provide adequate
information regarding expected distributions to creditors in the
disclosure statement, it is necessary to extend the Exclusivity
Period and Acceptance Period until after the passage of the Bar
Dates to provide the Debtors sufficient time to review and analyze
the claims that are filed to determine the proper amounts of the
claims for inclusion in the disclosure statement.  

The Debtors note that they have made good faith progress towards
their reorganization.  The Debtors are in meaningful discussions
and negotiations with their landlords regarding potential lease
modifications and rent reduction which will greatly enhance the
Debtors reorganization efforts.  The Debtors need additional time
to continue and finalize these negotiations as part of the plan
process.

In addition, the Debtors have been working collaboratively
throughout their chapter 11 cases with the Committee, the
prepetition secured creditor and the Office of the U.S. Trustee on
issues that have arisen in these chapter 11 cases.

Counsel to the Debtors are:

     Peter D. Russin, Esq.
     Joshua W. Dobin, Esq.
     MELAND RUSSIN & BUDWICK, P.A.
     3200 Southeast Financial Center
     200 South Biscayne Boulevard, Ste 3200
     Miami, FL 33131
     Telephone: (305) 358-6363
     Telecopy: (305) 358-1221
     E-mail: prussin@melandrussin.com
             jdobin@melandrussin.com

Goodman and Dominguez, Inc. -- dba Traffic, Traffic Shoe, Goodman
& Dominguez, Inc., Traffic Shoes, and Traffic Shoe, Inc. -- is a
retailer headquartered in Medley, Florida.  It operates 83 stores
in malls across nine states and Puerto Rico.  It also sells its
teen fashion products at http://www.trafficshoe.com/

Goodman and Dominguez, Inc, et al., filed Chapter 11 petitions
(Bankr. S.D. Fla. Case No. 16-10056) on January 4, 2016.  Judge
Robert A Mark presides over the case.  Lawyers at Meland Russin &
Budwick, P.A., represent the Debtors.

In its petition, Goodman and Dominguez estimated $1 million to $10
million in both assets and liabilities.  The petition was signed
by
David Goodman, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/flsb16-10056.pdf  


GRAFTECH INTERNATIONAL: S&P Affirms CCC+ Rating on $300MM Notes
---------------------------------------------------------------
S&P Global Ratings said that it affirmed its 'CCC+' issue-level
rating on Independence, Ohio-based GrafTech International Ltd.'s
$300 million senior unsecured notes due 2020 following the recent
amendments made to the company's revolving credit facility.  Its
recovery rating is unchanged at '4', indicating S&P's expectation
for average (30% to 50%; at the upper end of the range) recovery in
the event of a payment default.  S&P's analysis acknowledges the
lower commitment amount of $225 million and, therefore, the lower
estimated amount borrowed at the time of a hypothetical bankruptcy,
but also takes into account a lower reorganization value of
approximately $400 million based on S&P's expected emergence
EBITDA.

"We arrive at our reorganization value using an emergence EBITDA of
$80 million (rather than our previous $110 million) and a valuation
multiple of 5x.  The 5x multiple is unchanged from our previous
valuation multiple and remains in line with the multiples we assign
to other companies in the metals and mining downstream industry.
However, we believe an emergence EBITDA of $80 million, rather than
$110 million, more appropriately reflects our expectations that
graphite electrode prices will remain weak for some time to come,
which will continue to weigh on the company's EBITDA.
Nevertheless, our emergence EBITDA does contemplate a material
rebound in profitability from a hypothetical "default level"
EBITDA," S&P said.

Ratings List

GrafTech International Ltd.
Corporate Credit Rating                   CCC+/Negative/--

Rating Affirmed/Recovery Rating Unchanged

GrafTech International Ltd.
Senior Unsecured                          CCC+
  Recovery Rating                          4H



GUESTLOGIX INC: Claims Bar Date Set for June 2
----------------------------------------------
The Ontario Superior Court of Justice Commercial List ordered
PricewaterhouseCoopers Inc., appointed monitor of Guestlogix Inc
and Guestlogix Ireland Limited, to send a claims package to the
known claimants of the Companies as part of the court-approved
claims process.

Any person who believes that they have a prefiling claim or a D&O
prefiling claim against any of the Companies or their former and
current directors or officers that existed as at the date of the
initial order must send a proof of claim to the monitor on June 2,
2016, no later than 5:00 p.m. (Eastern Time).

The claims procedure order, the claims package and additional
proofs of claim and related materials may be accessed from the
monitor's website at http://www.pwc.com/ca/guestlogix.

The monitor can be reached at:

   PricewaterhouseCoopers Inc.
   PwC Tower
   18 York Street, Suite 2600
   Toronto, ON M5J 0B2
   Attention: Tammy Muradova
   Tel: +1 416 687-8238
   Fax: +1 416 814-3219
   Email: cmt_processing@ca.pwc.com

                       About GuestLogix

GuestLogix -- http://www.guestlogix.com-- is a global provider of
merchandising, payment and business intelligence technology to the
passenger travel industry, both onboard and off-board.  Both direct
to operators as well as through partnerships with global leaders in
catering, duty-free, inflight entertainment and self-service retail
experts, the Company provides the payment services touching over 1
billion travelling consumers each year.  GuestLogix' global
headquarters and centre for product innovation is located in
Toronto, with regional offices located in Dallas, London, Dublin,
Galway, Madrid and Hong Kong, and product innovation labs located
in Moncton and Krakow.


HAGGEN HOLDINGS: Court OKs Sale of Store No. 2096 to Thrifty
------------------------------------------------------------
Judge Kevin Gross of the Bankruptcy Court for the District Court of
Delaware approves the Asset Purchase Agreement entered into by and
among the Buyer Thrifty Payless, Inc. and the Seller Haggen Opco
North, LLC relating to the sale of Seller's right, title and
interest in the personal property at the Pharmacy Store No. 2096.

Pursuant to the Purchase Agreement, the purchase price for (a) the
prescription files will be $150,000 subject to adjustment in the
event the verification date volume at the Pharmacy is less than the
Pharmacy's current volume by 5% or more, then the prescription file
purchase price will be reduced by $331 for each prescription below
the 5% calculation, and (b) the Pharmacy inventory shall be in an
amount not to exceed $300,000.

           About Haggen Holdings, LLC

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.


HANESBRANDS INC: Moody's Rates Proposed $1.5BB Sr. Notes Ba2
------------------------------------------------------------
Moody's Investors Service assigned Ba2 ratings to Hanesbrands
Inc.'s proposed $1.5 billion Senior Unsecured Notes offering,
consisting of Notes due 2024 and 2026.  The company's Ba1 Corporate
Family Rating, Ba1-PD Probability of Default Rating, Baa3 Secured
Ratings, Ba2 Unsecured Rating, SGL-2 Speculative Grade Liquidity
Rating, and stable outlook remain unchanged.  Also unchanged are
the Baa3 Secured Rating and stable outlook for Hanesbrands'
subsidiary, MFB International Holdings S.a.r.l.

Net proceeds from the proposed notes, along with cash on hand, will
be used to redeem Hanesbrands' existing 6.375% notes due 2020 and
repay a portion of outstanding revolver borrowings.  The assigned
ratings are subject to review of final documentation.

"The transaction is a credit positive because it will extend a
portion of the company's debt maturity profile and likely reduce
cash interest expense," stated Moody's analyst, Mike Zuccaro.
"Leverage is unaffected since proceeds will be used to repay
existing indebtedness." Zuccaro added.  The transaction comes on
the heels of Hanesbrands' April 28, 2016, announcement that it had
entered into a definitive agreement to acquire Pacific Brand
Limited in a transaction valued at approximately $800 million.
Since the acquisition funding has not yet been determined, the
current and assigned debt instrument ratings and LGD assessments
are subject to change depending on the final proposed acquisition
debt structure.

These ratings were assigned:

Issuer: Hanesbrands Inc.

  Senior Unsecured Notes due 2026 at Ba2 (LGD5)
  Senior Unsecured Notes due 2024 at Ba2 (LGD5)

                        RATINGS RATIONALE

Hanesbrands' Ba1 Corporate Family Rating reflects the company's
significant scale in the global apparel industry along with the
company's well-known brands and leading share in the inner wear
product category.  Also considered is the company's relatively
modest, albeit, variable leverage and strong interest coverage.
When considering the recently-announced Champion Europe and Pacific
Brands Limited acquisitions, along with first quarter working
capital build and share repurchases, proforma lease-adjusted
leverage has increased to around 4.4x from 3.2 at year-end 2015.
Moody's expects leverage to return closer to Hanesbrands' more
typical range of 3.0x-3.5x though debt reduction over the next
12-18 months.  Favorable credit considerations include Hanesbrands'
double digit operating margins that are a result of product
innovation, a low cost supply chain, and the company's ability to
successfully leverage its brands.  Key concerns include
Hanesbrands' significant customer concentration, three of the
company's largest customers accounted for 43% of its 2015 revenues
and its exposure to volatile input costs, such as cotton, which can
have a meaningful and unfavorable impact on earnings and cash
flows.  The ratings also incorporate Moody's expectation that the
company will remain acquisitive over time, but that it will pause
acquisitions and share repurchases in the near term in order to
quickly reduce leverage.

The stable rating outlook reflects Moody's expectation that
Hanesbrands will materially reduce debt with free cash flow over
the next 12-18 months while sustaining high operating margins, and
that it will make progress achieving cost savings associated with
recent acquisitions.

Upward rating improvement is limited by the significant amount of
secured debt in Hanesbrands' capital structure and by the company's
current financial policy that Moody's believes targets credit
metrics at a level too high for an investment grade rating. A
higher rating would require that Hanesbrands demonstrate the
ability and willingness to maintain debt/EBITDA below 3.0 times as
well as materially reduce its reliance on secured financing.

Ratings could be lowered if the company experienced market share
losses or brand erosion that resulted in negative trends in
revenues or operating earnings.  Ratings could also be lowered if
Hanesbrands were pursue additional material debt-financed
acquisitions or share repurchases before reducing leverage well
below 3.75x.

Headquartered in Winston-Salem, NC, Hanesbrands is a manufacturer
and distributor of basic apparel products under brands that
include: Hanes, Champion, Playtex, Bali, L'Eggs, Maidenform and
Just My Size.  Annual revenue exceeded $5.7 billion in the latest
twelve month period ended April 2, 2016.



HIGH RIDGE MANAGEMENT: Court Extends Plan Exclusivity to May 31
---------------------------------------------------------------
Bankruptcy Judge John K. Olson granted the request of High Ridge
Management, Corp., et al. to extend the exclusive period within
which only the Debtors may:

     -- file plans through May 31, 2016.

     -- solicit acceptances of their plans through July 29, 2016.

                About Hight Ridge Management Corp.

High Ridge Management Corp., Hollywood Pavilion and Hollywood
Hills
Rehabilitation Center LLC, sought for Chapter 11 protection
(Bankr.
S.D. Fla. Lead Case No. 15-16388) on April 8, 2015.  

High Ridge is the landlord of Pavilion and Hollywood Hills.  High
Ridge is the 100 percent owner of the membership interests in
Hollywood Hills and Pavilion.  Prior to Jan. 14, 2014, when a
receiver was appointed, High Ridge managed the operations for
Pavilion and Hollywood Hills.

The Hon. John K. Olson presides over the jointly administered
cases.  

The Debtors tapped Grace E. Robson, Esq., at Markowitz Ringel
Trusty & Hartog, P.A., in Fort Lauderdale, Florida, as their
counsel, and Bayshore Partners, LLC as their investment banker.

Clarence Lamont Davidson, Jr., Davidson Collins and Joyce CPA, LLC
serve as the Debtors' accountants.  Meanwhile, Nancy M. Ridenour
and PDR Certified Public Accountants serve as auditing accountants
for the Debtors.

The U.S. trustee overseeing the Debtors' cases appointed Keith E.
Gibson as patient care ombudsman on May 29, 2015.

On Nov. 20, 2015, the Debtors disclosed total assets of $20.12
million and total liabilities of $60.53 million.


HOLOGIC INC: Moody's Hikes Corporate Family Rating to 'Ba2'
-----------------------------------------------------------
Moody's Investors Service upgraded the ratings of Hologic, Inc.,
including the Corporate Family Rating (CFR) to Ba2 from Ba3 and the
Probability of Default Rating to Ba2-PD from Ba3-PD. Moody's also
affirmed the Ba1 rating on the company's senior secured credit
facility and upgraded the senior unsecured notes to Ba3 from B1.
Lastly, Moody's affirmed Hologic's Speculative Grade Liquidity
Rating at SGL-1. The outlook is stable.

"The upgrade of Hologic's CFR reflects our expectation that
Hologic's financial leverage will improve over the next twelve to
eighteen months due to better operating performance and debt
repayment," stated Jonathan Kanarek, Moody's V.P., Senior Analyst.
Moody's expects that the company will remain financially flexible,
with strong liquidity and annual free cash flow in excess of $500
million.

Ratings upgraded:

  Corporate Family Rating to Ba2 from Ba3

  Probability of Default Rating to Ba2-PD from Ba3-PD

  Senior unsecured notes due 2022 to Ba3 (LGD 5) from B1 (LGD 4)

Ratings affirmed:

  Senior secured revolving credit facility expiring 2020 at Ba1
  (LGD 2)

  Senior secured term loan due 2020 at Ba1 (LGD 2)

  Speculative Grade Liquidity rating at SGL-1

The outlook is stable.

RATINGS RATIONALE

Hologic's Ba2 CFR rating reflects its good scale, leading market
positions within its core franchises and good revenue diversity by
product and customer. The rating is also supported by the recurring
nature of nearly three quarters of the company's revenues which are
generated from service contracts and consumables. Further, the
company generates good free cash flow, has strong interest coverage
and carries moderate leverage.

Moody's estimates adjusted debt to EBITDA was 3.4x for the twelve
months ended March 26, 2016. However, this does not capture the
market premium over the contractual principal amount or deferred
taxes associated with the company's convertible notes. Moody's
expects the company to repay these convertible notes over the next
24 months. If it does repay these notes, the company would need to
cover the market premium and may incur residual deferred taxes.
Including the market premium and deferred taxes as debt would
indicate leverage at approximately 3.9x.

The rating is constrained by Hologic's size and reflects the
potential for performance volatility given the sensitivity of its
businesses to general medical utilization trends and hospital
capital equipment spending.

Hologic's SGL-1 Speculative Grade Liquidity Rating reflects Moody's
expectation for very good liquidity over the next 12-18 months.
This is supported by healthy cash balances and Moody's expectation
of annual free cash flow in the $500 million to $600 million range.
That level will be more than sufficient to satisfy Hologic's modest
debt maturities and other cash needs.

"The stable rating outlook reflects our view that Hologic will be
able to sustain low to mid-single digit organic growth. The outlook
also reflects our expectation that Hologic will utilize significant
amounts of free cash flow for debt repayment, and refrain from
making significant acquisitions or outsized share repurchases,"
said Moody's.

Moody's could upgrade the ratings if Hologic can sustain organic
revenue growth and continue to repay debt such that adjusted debt
to EBITDA can be sustained around 2.5 times. Declining reliance on
the more cyclical capital equipment portion of its business and a
conservative financial policy could help support an upgrade.

Moody's could downgrade the ratings if Hologic's revenue and
earnings decline. Additionally, ratings could be downgraded if
Moody's expects adjusted debt to EBITDA to be sustained above 3.5
times, or if Hologic undertakes more aggressive financial
policies.

Hologic, Inc. (Hologic; NASDAQ: HOLX) is a leading developer,
manufacturer and supplier of premium diagnostic products, medical
imaging systems and surgical products. The Company's core business
units focus on diagnostics, breast health, gynecological surgical,
and skeletal health. Hologic reported revenues of about $2.8
billion in the twelve months ended March 26, 2016.


HOVNANIAN ENTERPRISES: S&P Lowers CCR to 'CCC+'; Outlook Negative
-----------------------------------------------------------------
S&P Global Ratings said it lowered its corporate credit rating on
Red Bank, N.J.-based Hovnanian Enterprises Inc. to 'CCC+' from
'B-'.  The outlook is negative.

S&P also lowered the issue-level ratings on the company's 7.25%
first-lien senior secured notes due 2020 to 'CCC+' (same as the
corporate credit rating) from 'B-'.  The '3' recovery rating
remains unchanged, indicating S&P's expectation for meaningful (50%
to 70%, at the low end of the range) recovery in the event of a
payment default.

At the same time, S&P lowered the issue-level ratings on the
company's 5% and 2% first-lien senior secured notes due 2021 to
'CCC' (one notch lower than the corporate credit rating) from
'CCC+'.  The '5' recovery rating is unchanged, indicating S&P's
expectations for modest (10% to 30%, at the high end of the range)
recovery in the event of a payment default.

In addition, S&P lowered the issue-level ratings on the company's
9.125% second-lien senior secured notes due 2020 and senior
unsecured notes due 2016-2019 to 'CCC-' (two notches lower than the
corporate credit rating) from 'CCC'.  The '6' recovery rating is
unchanged, indicating S&P's expectation for negligible (0% to 10%)
recovery in the event of a payment default.

The rating on the preferred stock remains 'C' because covenants on
the public bonds restrict the company from paying a dividend.

"The negative outlook reflects the potential for a downgrade over
the next 12 months if it appears Hovnanian will experience
difficulty or delays raising capital through land banking
arrangements, joint ventures, or other transactions in amounts
sufficient to meet upcoming debt maturities," said S&P Global
Ratings credit analyst Maurice Austin.

S&P will lower its rating on Hovnanian by one or more notches if
asset sales or land banking arrangements do not materialize in a
timely manner, causing S&P to view a payment default to be more
likely within the next 12 months.  S&P notes that company has
disclosed that it has a letter of intent related to its Minneapolis
land sale.  Furthermore, S&P would lower its rating on Hovnanian to
'CC' if the company offers to exchange any of its debt for less
than originally promised.

An upgrade is unlikely over the next year given the company's very
high leverage and capital constraints.


IHEARTCOMMUNICATIONS INC: Enters Mediation with Creditors
---------------------------------------------------------
As previously announced, on March 7, 2016, iHeartCommunications,
Inc. initiated an action against, among others, certain holders of
the Company's senior secured indebtedness, which is styled
iHeartCommunications, Inc., f/k/a Clear Channel Communications,
Inc. v. Benefit Street Partners LLC, et al., and is pending in the
285th Judicial District, Bexar County, Texas, as Cause No. 2016 CI
04006.  The Texas Litigation relates to the contribution on
Dec. 3, 2015, of 100,000,000 shares of Class B common stock of
Clear Channel Outdoor Holdings, Inc., from Clear Channel Holdings,
Inc., one of the Company's wholly-owned subsidiaries that is a
"restricted subsidiary" under the Company's various debt documents,
to Broader Media, LLC, one of the Company's wholly-owned
subsidiaries that is an "unrestricted subsidiary" under the
Company's various debt documents.  Certain of the Holders have
alleged that the Contribution violated certain covenants in certain
of the Company's priority guarantee note indentures and issued
notices of default on March 7, 2016.

As previously disclosed, on March 9, 2016, the Company obtained a
temporary restraining order from the Texas Court (i) rescinding the
Notices of Default until the temporary restraining order expires
pursuant to its terms or until further order of the Texas Court,
and (ii) restraining and enjoining the defendants in the Texas
Litigation from issuing additional notices of default on the
priority guarantee notes or any other indebtedness of the Company
based upon the Contribution.  As a condition to obtaining the
temporary restraining order from the Texas Court, the Company
agreed not to sell, transfer, encumber, pledge, hypothecate or
otherwise dispose of any interest in, or proceeds of, the Shares
until such time as a hearing may be held for a temporary
injunction.  On April 4 and 5, 2016, the Texas Court held a hearing
on the Company's application for a temporary injunction. On April
6, 2016, the Texas Court ordered, on the agreement of the appearing
parties, to extend the temporary restraining order until the
conclusion of a trial on the merits, which the Texas Court
scheduled to begin on May 16, 2016.

On May 2, 2016, the Company announced that it has entered into
mediation with certain of the Holders to try to resolve the dispute
and to explore possible alternatives to the terms of the Company's
existing senior secured indebtedness.  The mediation is scheduled
to end on May 16, 2016, or the earlier resolution of the issues.

                     About iHeartCommunications

iHeartCommunications, Inc., (formerly known as Clear Channel
Communications, Inc.) is a global media and entertainment company.
The Company specializes in radio, digital, outdoor, mobile,
social, live events, on-demand entertainment and information
services for local communities, and uses its unparalleled national
reach to target both nationally and locally on behalf of its
advertising partners.  The Company is dedicated to using the
latest technology solutions to transform the company's products
and services for the benefit of its consumers, communities,
partners and advertisers, and its outdoor business reaches over 40
countries across five continents, connecting people to brands
using innovative new technology.

IheartCommunications reported a net loss attributable to the
Company of $755 million on $6.24 billion of revenue for the year
ended Dec. 31, 2015, compared to a net loss attributable to the
Company of $793.76 million on $6.31 billion of revenue for the
year ended Dec. 31, 2014.  As of Dec. 31, 2015, the Company had
$13.8 billion in total assets, $24.4 billion in total liabilities
and a total shareholders' deficit of $10.6 billion.

                       Bankruptcy Warning

"The ability to refinance the debt will depend on the condition of
the capital markets and our financial condition at such time.  
Any refinancing of the debt could be at higher interest rates and
increase debt service obligations and may require us and our
subsidiaries to comply with more onerous covenants, which could
further restrict our business operations.  The terms of existing
or future debt instruments may restrict us from adopting some of
these alternatives.  These alternative measures may not be
successful and may not permit us or our subsidiaries to meet
scheduled debt service obligations.  If we or our subsidiaries
cannot make scheduled payments on indebtedness, we or our
subsidiaries, as applicable, will be in default under one or more
of the debt agreements and, as a result we could be forced into
bankruptcy or liquidation," the Company said in its annual report
for the year ended Dec. 31, 2015.  

                            *   *    *

iHeartCommunications carries a 'CCC' Issuer Default Ratings (IDR)
from Fitch Ratings and a 'Caa2 Corp." corporate family rating from
Moody's Investors Service.


IMPERIAL METALS: Moody's Affirms Caa1 CFR, Outlook Negative
-----------------------------------------------------------
Moody's Investors Service affirmed Imperial Metals Corporation's
Corporate Family Rating at Caa1, Probability of Default Rating at
Caa1-PD, and Senior Unsecured rating at Caa2.  The company's
speculative liquidity rating (SGL) is affirmed at SGL-4 (weak).
IMC's outlook remains negative.

"Although IMC's Red Chris mine is now operating at planned
capacity, the company is waiting for permits to start using the
Mount Polley tailings storage facility again, which breached in
2014, and its drawn bank facility matures in October", said Jamie
Koutsoukis, Moody's vice president and senior credit officer.

                           RATINGS RATIONALE

IMC's Caa1 Corporate Family rating (CFR) is driven by the company's
high financial leverage (negative EBITDA generation in 2015), a
concentration of cash flow from a single mine (Red Chris) and its
weak liquidity.  However, as the Red Chris mine has now achieved
its design specifications, Moody's believes IMC's adjusted leverage
could trend below 6x in 2016.  Red Chris benefits from its location
in a favorable mining jurisdiction (Canada), long reserve life,
multi-metal diversity, and low expected costs.  The Mount Polley
mine is currently operating under temporary permits following its
tailings dam breach in August 2014, which essentially allows it to
operate at 50% of capacity and resultantly, Moody's do not expect
material cash flows to/from the mine this year.

IMC's liquidity is weak (SGL-4).  As at Dec 31, 2015, IMC had
C$9 million of cash, and though Moody's expects IMC to generate
about $20 million of free cash flow, there is significant
refinancing risk for the company.  IMC's C$200 million revolver has
$199 million drawn and matures Oct. 1, 2016.  The company is
currently in discussions with its lenders to extend the credit
facility, however with Moody's view the renewal of the facility
vital for the company as it does not have the capacity to repay
amounts drawn.  As well, IMC must comply with maximum leverage and
minimum fixed charge covenant tests beginning in Q1/16 which we
believe they will remain in compliance with.

The negative outlook reflects IMC's near term refinancing risk
related to its senior credit facility which has $199 million drawn
against it and expires in October 2016.

A higher rating would require Red Chris to continue to consistently
meet design specifications, with the company receiving a permanent
permit for Mount Polley and moves towards a return to full
operations at that mine.  Moody's would also require removal of
near term refinancing risk, and Moody's would need to expect IMC to
reduce and maintain its adjusted financial leverage below 5x.

A lower rating could occur if we expected IMC would be unable to
fund its cash requirements as they became due.

Imperial Metals Corporation wholly-owns Red Chris and Mount
Polley - both open pit copper/ gold mines located in British
Columbia, Canada, and 50% of Huckleberry (operations have been
suspended), an open pit copper mine also located in British
Columbia.  Mount Polley incurred a breach of its tailings dam in
August, 2014, and restarted operations at half capacity in August
2015.  Red Chris achieved commercial production on July 1, 2015.

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


IMS HEALTH: Moody's Puts Ba3 CFR Under Review for Upgrade
---------------------------------------------------------
Moody's Investors Service has placed the ratings of IMS Health Inc.
under review for upgrade in connection with the announcement of an
all-stock merger of IMS with Quintiles Transnational Holdings.
Ratings under review include IMS's Ba3 Corporate Family Rating,
Ba3-PD Probability of Default rating, Ba2 senior secured debt
ratings, and B2 senior unsecured notes ratings.  Moody's affirmed
IMS's SGL-2 Speculative Grade Liquidity Rating.

                        RATINGS RATIONALE

Moody's review of IMS's ratings will focus on: (i) the receipt of
regulatory approvals and any other conditions to the closing of the
merger, and; (ii) the final composition and terms of the debt
capital structure upon closing, which is expected to occur in the
second half of 2016.  The review will also focus on the strength of
the combined Quintiles IMS Holdings, which will be a $7.2
billion-revenues market leader in pharmaceuticals market-data
analysis and pharmaceuticals contract research and contract sales.
Moody's expects that the pro-forma combined company will be
meaningfully less leveraged, at approximately 4.0 times debt to
EBITDA (Moody's adjusted), than IMS currently is (4.8 times) on a
standalone basis.   Given IMS's merger with the larger Quintiles,
Moody's expects the combined entity to benefit from the respective
companies' market leadership, unprecedented scale of healthcare
records and analytical capabilities, and steady, mid-single-digit
revenue growth with a subscription-based model that exhibits
excellent customer retention and revenue visibility. Moody's review
will also focus on the pro-forma company's outlook for
deleveraging, free-cash-flow generation capabilities, competitive
position, management composition, and synergies assumptions.

On Review for Upgrade:

Issuer: IMS Health Incorporated

  Probability of Default Rating, Placed on Review for Upgrade,
   currently Ba3-PD
  Corporate Family Rating, Placed on Review for Upgrade, currently

   Ba3
  Senior Secured Bank Credit Facilities, Placed on Review for
   Upgrade, currently Ba2 (LGD3)
  Senior Unsecured Regular Bond/Debentures, Placed on Review for
   Upgrade, currently B2 (LGD6)

Outlook Actions:

Issuer: IMS Health Incorporated
  Outlook, Changed To Rating Under Review From Stable

Affirmations:

Issuer: IMS Health Incorporated
  Speculative Grade Liquidity Rating, Affirmed SGL-2

Danbury, CT-based IMS Health, Inc. provides critical sales and
other market intelligence primarily to pharmaceutical and biotech
companies.  The company undertook an IPO in April 2014, and
continues to be majority owned by affiliates of TPG Capital, L.P.,
the Canadian Pension Plan Investment Board, and Leonard Green &
Partners, L.P., all of whom have sold some of their holdings since
the IPO.  Including the early 2015 Cegedim and other, smaller
acquisitions, Moody's expects IMS, on a standalone basis, to
generate annual revenues of about $3.2 billion.

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


K.M. VILLAS: Asks Court to Extend Plan Exclusivity to July 1
------------------------------------------------------------
K.M. Villas LLC asks the U.S. Bankruptcy Court for the Southern
District of Florida to enter an order extending the exclusivity
period within which the Debtor may file a Plan and solicit
acceptances to such a Plan, by 60 days.

The current exclusivity period within which the Debtor may file a
plan of reorganization expires on May 2, 2016.  The Debtor asks the
Court to extend the exclusive filing and solicitation periods, up
to and including July 1, 2016 and August 30, 2016, respectively.

K.M. Villas LLC is the owner of a four-unit residential building
located at 930 - 934 N Harper Ave, West Hollywood, CA 90046.  The
Debtor has valued the Property at $1,300,000.  HSBC Bank USA, N.A.
claims to have a first deed of trust against the Property, in the
amount of $2,115,335.  The Debtor is disputing the HSBC Bank Claim
and alleges, among other allegations, that HSBC Bank lacks standing
as a creditor.

On May 30, 2015, the Debtor filed a First Amended Plan and First
Amended Disclosure Statement.  On July 8, 2015, the Court entered
an Order (1) Denying Approval of Disclosure Statement; (2) Denying
Motion for Extension as Moot; and (3) Reserving Ruling on Motion to
Value, which denied approval of the Debtor's First Amended
Disclosure Statement, without prejudice to filing a Second Amended
Disclosure Statement, when appropriate.  The Court also stated that
this case cannot proceed to confirmation without first resolving
several issues, including: (a) the value of the Property; (b) the
legal effect of the abandonment of the Property in the prior
personal bankruptcy of Kevin Hinds, Debtor's Managing Member; (c)
whether title to the Property is properly vested in the Debtor; and
(d) whether HSBC Bank has standing to enforce the mortgage on the
Property.

On December 13, 2015, the Court extended the exclusive period
within which the Debtor may file a plan of reorganization to
January 12, 2016, and the exclusive solicitation period, pursuant
to 11 U.S.C. Sec. 1121(c)(3), to March 14, 2016.  The Court further
stated in the Exclusivity Order that in the event that the Debtor
seeks a further extension of these deadlines, any contested matter
or adversary proceeding objecting to the HSBC Bank Claim must be
filed no later than January 12, 2016.

On January 12, 2016, the Debtor, by and through its Special
Litigation Counsel, Nicole Moskowitz and Neustein Law Group PA,
filed an adversary proceeding (Adversary Case No. 16-01039 RAM),
objecting to the HSBC Claim and seeking other relief, including a
determination of the validity, extent and priority of HSBC Bank's
alleged lien against the Property.  At such time that the Adversary
Proceeding is adjudicated or resolved, the Debtor intends on filing
a Second Amended Plan and Second Amended Disclosure Statement.

K.M. Villas LLC, based in Miami, Florida, filed a Chapter 11
petition (Bankr. S.D. Fla. Case No. 15-14807) on March 16, 2015.
Judge Robert A Mark presides over the case.  The Debtor listed $1.3
million in assets and $2.76 million in liabilities.  The petition
was signed by Kevin Hinds, member.

The Debtor is represented by:

     Zach B Shelomith, Esq., at
     LEIDERMAN SHELOMITH, P.A.
     2699 Stirling Rd # C401
     Ft Lauderdale, FL 33312
     Tel: (954) 920-5355
     Fax: (954) 920-5371
     E-mail: zshelomith@lslawfirm.net


KINEMED INC: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------
Debtor: KineMed, Inc.
        5980 Horton Street, Suite 470
        Emeryville, CA 94608

Case No.: 16-41241

Type of Business: KineMed has developed and validated a
                  proprietary drug development platform to
                  clinically advance drugs more efficiently and
                  with less risk for later sale/out-license.  The
                  Company is creating a pipeline of high value
                  drug assets in muscle-wasting and fibrotic
                  diseases.  The pipeline today is focused on
                  Phase 2 trials with synthetic Ghrelin, to
                  address CKD & muscle wasting in the elderly.

Chapter 11 Petition Date: May 4, 2016

Court: United States Bankruptcy Court
       Northern District of California (Oakland)

Judge: Hon. Roger L. Efremsky

Debtor's Counsel: Merle C. Meyers, Esq.
                  MEYERS LAW GROUP, PC
                  44 Montgomery St. #1010
                  San Francisco, CA 94104
                  Tel: (415)362-7500
                  Email: mmeyers@mlg-pc.com
                         mmeyers@meyerslawgroup.com

Estimated Assets: $10 million to $50 million

Estimated Debts: $1 million to $10 million

The petition was signed by David M. Fineman, chairman & chief
executive officer.

List of Debtor's 20 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Agilent Technologies, Inc.           AP Trade             $32,805

Bill and Melinda                                         $218,857
Gates Foundation                                          

Cambridge Isotope                    AP Trade             $41,757
Laboratories, Inc.

EmeryStation Office II, LLC          Landlord             $33,596

EthosData Limited                   Prof Svces             $8,750

Fisher Scientific Company LLC        AP Trade              $8,364

FisherBroyles, LLP                  Prof Svces             $8,235

Genentech, Inc.                                           $24,791

Hogan Lovells US LLP                Prof Svces           $546,382
4085 Campbell
Avenue, Suite 100
Menlo Park, CA 94025

Matheson Tri-Gas (Aeris)            AP Trade              $28,941

Morgan, Lewis, & Bockius LLP        Prof Svces            $70,884

NHLBI (National                      Licensor             $28,750
Heart, Lung, and Blood I

Oregon Health &                   Clinical Site           $47,670
Science University
Office of Proposal &
Award Management

Profil Institute for              Clinical Site           $48,052
Clinical Research

Public Health Service               Licensor             $274,671
P.O. Box 979071
St. Louis, MO
63197-9000

Quantum Analytics                    Lease                $51,879

University of                       Licensor              $59,150
California at Berkeley

University of                     Clinical Site           $39,668
California, San Diego

VWR International, Inc.             AP Trade               $8,264

Xcenda, L.L.C.                     Prof Svces             $17,242


LAZARD GROUP: Moody's Raises Subordinate Shelf Rating to Ba1
------------------------------------------------------------
Moody's Investors Service upgraded the ratings of Lazard Group
LLC's senior unsecured debt to Baa3 from Ba1.  The rating outlook
is stable.  This concludes Moody's review initiated on Feb. 12,
2016.

                         RATINGS RATIONALE

Moody's said Lazard's upgrade to investment grade is supported by
the firm's sustained level of discipline in its compensation
practices.  This cost discipline, and strong revenues driven by a
buoyant M&A advisory environment, have improved Lazard's key credit
metrics, said Moody's.  "Lazard's credit strength is further
enhanced by its asset management activities, a business which adds
earnings diversification with higher margins and less earnings
volatility than the firm's financial advisory franchise, and by its
strengthened tangible common equity position" said Moody's.

Lazard's cash flow generating capacity would be pressured if the
M&A advisory market softens, although this would likely be
mitigated to some extent by appropriate expense management under
such adverse economic conditions.  Moody's said management's
ability to remain within its stated through-the-cycle cost control
targets, without damaging its franchise value, would become a key
factor in its ability to weather such a downturn and maintain a
reasonable level of credit strength at the bottom of the cycle.

What Could Change the Rating - Up

Moody's said an upgrade would be dependent upon how Lazard's
capital allocation policies might evolve over time, particularly
with respect to the balance between creditor and shareholder
interests.

What Could Change the Rating - Down

A significant and prolonged deterioration in debt leverage or a
sharp decline in tangible common equity would be viewed negatively,
as would a sharp escalation in compensation costs as a percentage
of revenues. Moody's said that downward rating pressure could
develop if Lazard' s Debt/EBITDA worsened to about 3x absent a plan
to return leverage to its previous levels in the near-term.

Concurrently with the one notch upgrade to investment grade,
Moody's withdrew its Ba1 Corporate Family Rating which typically
applies to speculative grade companies.

Moody's has taken these rating actions:

  Senior unsecured debt rating, upgraded to Baa3 from Ba1
  Senior unsecured shelf rating, upgraded to (P)Baa3 from (P)Ba1
  Subordinate shelf rating, upgraded to (P)Ba1 from (P)Ba2
  Withdrew Corporate Family Rating of Ba1

The methodologies used in this rating were Global Securities
Industry Methodology published in May 2013, and Asset Managers:
Traditional and Alternative published in December 2015.

Lazard is a global financial advisory and asset management firm
headquartered in New York.  The firm operates in 43 cities in key
business and financial centers across 27 countries throughout North
America, Europe and Asia, with $2.4 billion revenue in 2015.


LG PROJECT 1: Voluntary Chapter 11 Case Summary
-----------------------------------------------
Debtor: LG Project 1, LLC
        1 Ironsides #11
        Marina Del Rey, CA 90292

Case No.: 16-15922

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 4, 2016

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

Judge: Hon. Sandra R. Klein

Debtor's Counsel: Stephen R Wade, Esq.
                  THE LAW OFFICES OF STEPHEN R WADE
                  350 W Fourth St
                  Claremont, CA 91711
                  Tel: 909-985-6500
                  Fax: 909-399-9900
                  Email: srw@srwadelaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Andrea Trout, vice president of Legacy
Group, Inc., manager.

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


MAGNOLIA STATE SCHOOL: Court Extends Plan Exclusivity to June 30
----------------------------------------------------------------
Bankruptcy Judge Jason D. Woodard for the Northern District of
Mississippi granted the request of Magnolia State School Products
to extend by additional 90 days -- or until June 30, 2016 -- the
time in which the Debtor has the exclusive right to file a
Disclosure Statement and Chapter 11 Plan of Reorganization.

Magnolia State School Products filed a Chapter 11 petition (Bankr.
N.D. Miss. Case No. 15-14263) on November 30, 2015, and is
represented by Stephen P. Livingston, Esq. --
stevel@ms.metrocast.net


MARTIN MARIETTA: Moody's Affirms Ba1 CFR, Outlook Positive
----------------------------------------------------------
Moody's Investors Service affirmed Martin Marietta Materials,
Inc.'s Corporate Family Rating at Ba1 and revised the outlook to
positive from stable.  Moody's also affirmed Martin Marietta's
senior unsecured ratings at Ba1, Probability of Default Rating at
Ba1-PD, Speculative Grade Liquidity assessment at SGL-2 and
commercial paper rating at Not Prime.

The positive outlook reflects Moody's expectation that operating
performance and key credit metrics will continue improve with the
recovery in construction spending.  The company's adjusted
debt-to-EBITDA declined to 2.6x for the year-end 2015 from 3.3x at
year-end 2014.  Operating margin has also improved over the same
period, increasing to 15.1% from 13.2%, respectively.  The outlook
also presumes that the company will carefully balance its financial
policy including maintaining strong liquidity and conservative debt
leverage against its growth strategies, which may include various
"tuck-in" acquisitions.

These ratings actions were taken:

Issuer: Martin Marietta Materials, Inc.:

  Corporate Family Rating, affirmed at Ba1;
  Probability of Default Rating, affirmed at Ba1-PD;
  Senior unsecured notes, affirmed at Ba1 (LGD4);
  Speculative Grade Liquidity assessment affirmed at SGL-2;
  Commercial paper affirmed rating Not-Prime.

The rating outlook is positive.

                        RATINGS RATIONALE

Martin Marietta's Ba1 ratings benefit from the company's position
as one of North America's leading aggregates producers and leading
cement producer in Texas; expanded geographic footprint, product
diversity and distribution network; typically stable operating
performance in most, but not all, economic scenarios; and diverse
end-markets including public, private residential and
non-residential construction.  The rating also benefits from a
conservative balance sheet, solid operating margin, and strong free
cash flow generation.

The ratings also incorporate the highly competitive nature of the
industry and volatility from the cement and ready-mixed concrete
businesses.  Cement and ready-mixed concrete businesses are more
volatile than aggregates business.  The cement business is
capital-intensive and prices can change dramatically even with
minor changes to supply and demand.  Ready-mixed concrete business
has less pricing power and lower profitability than aggregates due
to volatile input costs, competition and low barriers to entry. The
rating also considers the company's lack of multinational
diversity.  Martin Marietta effectively derives all of its income
from operations in North America, with a concentration of income
from Texas, and is smaller in scale than investment-grade rated,
multinational building materials companies.

The company's SGL-2 reflects good liquidity over the next 12 to 18
months.  At Dec. 31, 2015, the company's liquidity was supported by
$168 million of cash on hand, availability of $350 million under
its unsecured revolving credit facility, $250 million available
under its trade receivable facility, and Moody's expectation that
the company will remain free cash flow positive over the next
twelve months.  The company has approximately $300 million of debt
maturities through 2017, which could be more than covered with cash
and revolver availability as of December 31, 2015.  The company's
assets are largely unencumbered by liens, providing a significant
amount of alternative financial flexibility if needed.  The
company's credit facility is governed by a debt-to-EBITDA ratio of
3.5x.  Moody's expects the company to be in compliance with this
covenant over the next 12 to 18 months.

Martin Marietta's ratings could be upgraded should the company's
adjusted operating margin remain over 15%, adjusted debt-to-EBITDA
remain below 3.0x, EBIT-to-interest expense increase above 4.0x,
and retained cash flow as a percentage of net debt exceed 25%, with
the expectation that all metrics are sustainable.  Continued
improvement in operating performance, expanded margins and strong
liquidity would also support a ratings upgrade.

The rating outlook could return to stable should construction end
markets weaken, resulting in flat to negative growth in shipment
volumes.

The ratings would likely be downgraded in the event that Martin
Marietta's adjusted operating margins deteriorate below 11%,
adjusted debt leverage increases above 4.0x and adjusted
EBIT-to-interest expense coverage is below 3.0x over the
intermediate-term.  Additional rating pressures could emerge if
construction fundamentals were to deteriorate materially or if the
company pursues a materially levering transaction.

The principal methodology used in these ratings was Building
Materials Industry published in September 2014.

Martin Marietta Materials, Inc., headquartered in Raleigh, North
Carolina, is a leading producer of aggregates products and cement
for the construction industry, including infrastructure
nonresidential, residential, railroad ballast, agricultural, and
chemical grade stone used in environmental applications.  The
Aggregates business also comprises downstream product lines
including asphalt products, ready-mixed concrete and road paving
construction services.  The Aggregates business accounted for
nearly 82% of the company's revenues for the year ended 2015.  The
Cement business and the Magnesia Specials business accounted for
11% and 7%, respectively.  For the year ended 2015, Martin Marietta
generated approximately $3.5 billion in revenues.



MASHBURN STORES: Asks Court to Extend Plan Exclusivity to July 25
-----------------------------------------------------------------
Marburn Stores, Inc., an employee stock ownership plan, asks the
U.S. Bankruptcy Court for the District of New Jersey to extend the
time within which it has the exclusive right to file and solicit
acceptances of a Chapter 11 plan of reorganization.

The Debtor explains that management is continuing to take steps to
preserve available cash, such as laying off unnecessary personnel,
closing the least profitable stores and consolidating inventory.
The Debtor intends to continue to operate under Chapter 11 and
intends to file a Plan of Reorganization.

Through these Chapter ll proceedings the Debtor intends to close
the least profitable stores and consolidate inventory in the
remaining stores. The Debtor will also review other measures which
can be taken to increase sales and decrease costs.

Shortly before the Petition Date, the Debtor vacated three of its
least profitable locations, including: Nanuet, New York; Paramus,
New Jersey; and Fairview, New Jersey.  In the Debtor's first,
second and third motions to reject certain unexpired real property
leases, the Debtor have identified five locations with poor
profitability and secured orders authorizing the Debtor to vacate
the premises and reject the respective leases, including:
Millville, New Jersey; Union, New Jersey; West Orange, New Jersey;
Delran, New Jersey; and
Melville, New York.

The Debtor has retained Speed Financial Services, Inc. as
accountant to provide the necessary reporting requirements and
assist with relevant financial analysis in this case.  The Debtor
also has retained Keen-Summit Capital Partners, LLC as real estate
adviser.  Keen-Summit is in the process of renegotiating existing
real property leases to realize additional savings.

The Debtor relates that it is current with all of its post-petition
reporting and financial obligations, including payments to the U.S.
Trustee, and all Landlords.  Business Financial Services, Inc., the
Debtor’s secured lender, also has been paid off since March of
this year.

The Debtor also notes that recently, it has been forced to secure
an alternative banking institution.  It is in the process of
closing its accounts with PNC Bank, and opening new
debtor-in-possession accounts with TD Bank.

The Debtor also reports that it has had productive discussions with
the Committee and other professionals in coordinating a way
forward. The Debtor has executed non-disclosure agreements and is
in the process of exchanging information to satisfy its due
diligence obligation.

On April 13, 2016, the Court entered an Order retaining Cambridge
Financial Service, LLC, and as a result of the firm's efforts, the
Debtor is in discussions with multiple sources of financing that
can help fund a Plan of Reorganization and allow the Debtor to exit
bankruptcy.

The Debtor further notes that at least one of the funding sources
has requested additional information which the Debtor continues to
gather. However, more time is needed to satisfy the requests, and
the Debtor must request more time within which it can file a Plan.

The Debtor's exclusive period to file the Plan runs through May 18,
2016.  

By this motion, the Debtor asks the Court to extend its exclusive
period for filing a Plan of Reorganization through July 25, 2016,
and the exclusive period in which to obtain confirmation of a Plan
60 days thereafter.

Marburn Stores, Inc. specializes in curtains, draperies and window
treatments, and also carries a complete line of home furnishings.
Marburn Stores filed a Chapter 11 petition (Bank. D. N.J. Case No.
15-14411) on March 13, 2015.  The Debtors disclosed total assets of
$7.25 million and debts of $2.85 million.  The petition was signed
by Edwin F. Hund, president and CEO.

The Debtor is represented by:

     Donald W Clarke, Esq.
     Daniel Stolz, Esq.
     WASSERMAN, JURISTA & STOLZ, P.C.
     110 Allen Road, Suite 304
     Basking Ridge, NJ 07920
     Tel: (973) 467-2700
     Fax: (973) 467-8126
     Email: dclarke@wjslaw.com
            dstolz@wjslaw.com


MICHAEL KING: U.S. Trustee Object to Museum, Waterpark Sale
-----------------------------------------------------------
The U.S. Trustee for Region 18, Gail Brehm Geiger, Yamhill County,
Oregon, and The Evergreen Aviation and Space Museum and the Captain
Michael King Smith Education Institute opposed The Michael King
Smith Foundation's proposed sale of its museum and waterpark
facility for lack of due process.

Specifically, the Objectors tells the Court that: (1) the motion
lacks sufficient information regarding marketing efforts and the
terms of the proposed sale to allow creditors and interested
parties to evaluate the proposed sale, (2) the proposed sale may
chill bidding because it provides no clear baseline for competing
offers, (3) the Debtor has not demonstrated compliance with Section
363(f) requirements to sell free and clear of liens,  (4) it is not
clear that sufficient assets will remain following the sale to fund
the administrative expenses of the case, and (5) the Debtor has not
provided a good business reason for selling its primary assets
through the vehicle of a 363 sale rather than a plan of
reorganization.

The County also narrates that the Oregon Tax Court issued an
opinion which determined the primary use of the Evergreen Wings and
Waves Waterpark facility was for recreational use and thus the
facility was not exempt from property taxation.

Further, the Museum contends that representations in the Sale
Motion regarding the Museum and its leased assets are not
accurate.

Gail Brehm Geiger, Acting U.S. Trustee for Region 18 is represented
by:

       Carla G. McClurg, Esq.
       U.S. DEPARTMENT OF JUSTICE
       Office of the United States Trustee
       620 SW Main St., Rm 213
       Portland, OR  97205
       Telephone: (503) 326-7659
       Email: carla.mcclurg@usdoj.gov

Yamhill County, Oregon is represented by:

       Jeffrey C. Misley, Esq.
       SUSSMAN SHANK LLP
       1000 SW Broadway, Suite 1400
       Portland, OR 97205-3089
       Telephone: (503) 227-1111
       Facsimile: (503) 248-0130
       E-Mail:  jmisley@sussmanshank.com

Counsel for Evergreen Aviation and Space Museum and the Captain
Michael King Smith Education Institute:

       Justin D. Leonard, Esq.
       LEONARD LAW GROUP LLC
       111 SW Columbia, Ste. 1100
       Portland, Oregon 97201
       Direct: 971.634.0192
       Fax: 971.634.0250
       Email: jleonard@LLG-LLC.com

              About Michael King

The Michael King Smith Foundation filed a Chapter 11 bankruptcy
petition (Bankr. D. Ore. Case No. 16-30233) on Jan. 26, 2016.  The
petition was signed by Lisa Anderson as trustee.  The Debtor
estimated assets in the range of $100 million to $500 million and
liabilities of $1 million to $10 million.  Motschenbacher &
Blattner, LLP serves as the Debtor's counsel.  Judge Randall L.
Dunn is assigned to the case.

The Debtor is a tax exempt business trust that was established on
Nov. 15, 2006.  The Debtor owns real and personal property located
in McMinnville, Oregon.  The Debtor's assets include the real
property and improvements that comprise a portion of the Evergreen
Aviation and Space Museum located in McMinnville, Oregon.  The
Debtor's assets are primarily leased or on loan to the Evergreen
Aviation and Space Museum.


MOBILE MINI: Moody's Assigns B2 Corporate Family Rating
-------------------------------------------------------
Moody's Investors Service affirmed the B1 corporate family and the
B2 senior unsecured ratings of Mobile Mini, Inc. and assigned a B2
senior unsecured rating to its proposed 8-year $250 million senior
notes. The outlook is stable.

Moody's expects to withdraw the rating on the existing notes once
the new debt offering is consummated and the notes are paid off.

Issuer: Mobile Mini, Inc.

-- Assignment:

-- Senior Unsecured Regular Bond/Debenture, at B2

-- Affirmation:

-- Corporate Family Rating, at B1

-- Senior Unsecured Regular Bond/Debenture, at B2

-- Outlook Actions:

-- Outlook, Remains Stable

RATINGS RATIONALE

Mobile Mini's refinancing of its existing $200 million senior notes
with the original maturity of 2020 will be leverage-neutral for the
company, given that it is planning to apply the majority of the
proceeds from the incremental borrowing of $50 million to the
outstanding principal balance under its ABL facility. Positively,
the refinancing improves Mobile Mini's funding profile by extending
the maturity of the notes until 2024.

Other rating factors that led to the affirmation of Mobile Mini's
ratings are its strong earnings and the long-term cash flow
generating capacity from its investment in long-lived mobile
storage units, as well its strong market position in the portable
storage leasing business in the US and UK. Credit constraints
include high leverage, which has not meaningfully decreased since
the debt-financed acquisition of Evergreen Tank Solutions (ETS) in
December 2014, and also absence of tangible equity, limited
alternate liquidity sources, reliance on secured funding, and
concentrated exposure to cyclical sectors, such as construction.

Moody's expects Mobile Mini will apply a meaningful portion of its
free cash flows to debt repayment in 2016. After borrowing about
$400 million under its ABL facility in December 2014 to pay for the
acquisition of ETS, Mobile Mini's de-leveraging has been marginal,
reflecting substantial distribution to shareholders. Mobile Mini's
leverage, measured as Debt to EBITDA, remains above 5x, according
to Moody's calculations. Mobile Mini's capitalization, measured as
Tangible Common Equity to Tangible Managed Assets, is also weak.
Moody's expects the company to de-lever to approximately 4x by the
end of 2016 based on its cash-flow generation capacity and to
rebuild its tangible equity through earnings generation.

The ratings could be upgraded if the company meaningfully reduces
the amount of debt outstanding, while rebuilding its tangible
equity through earnings generation.

Ratings would be downgraded if the combined entity's financial and
operating performance proves to be weaker than anticipated.
Further, negative rating pressure could develop if the company
fails to de-lever as expected, either as a result of weak financial
performance or by pursuing other strategic priorities, such as a
large leveraged acquisition or substantial distributions to
shareholders.



MPM HOLDINGS: To Unveil 1st Qtr 2016 Conference Call on May 10
--------------------------------------------------------------
MPM Holdings Inc. will host a teleconference to discuss First
Quarter 2016 results on May 10, 2016, at 10 a.m. Eastern Time. The
Company will issue a press release announcing its financial results
for the first quarter March 31, 2016 prior to the opening of the
market on May 10, 2016.

Interested parties are asked to dial in approximately 10 minutes
before the call begins at the following numbers:

     U.S. Participants: 877-546-5018
     International Participants: +1 857-244-7550
     Participant Passcode: 51715175

Live Internet access to the call and presentation materials will be
available through the Investor Relations section of the Company's
website: www.momentive.com.

A replay of the call will be available for three weeks beginning at
2 p.m. Eastern Time on May 10, 2016. The playback can be accessed
by dialing 888-286-8010 (U.S.) and +1-617-801-6888 (International).
The passcode is 36329785. A replay also will be available through
the Investor Relations Section of the Company’s website.

                   About Momentive Performance

Based in New York, US, Momentive Performance Materials Inc. is one
of the largest global producer of silicones and silicone
derivatives.  Momentive is approximately 40% owned by funds
managed
or owned by the private equity division of Apollo Global
Management
(unrated).

Moody's Investors Service, in late January 2016, downgraded
Momentive Performance Materials Inc.'s corporate family rating
(CFR) to Caa1 from B3, and their probability of default rating
(PDR) to Caa1-PD from B3-PD. Concurrently, Moody has downgraded
the
assigned ratings of Momentive's $1.1 billion, at 3.88%, first-lien
senior secured notes due 2021; and Momentive's $250 million, at
4.69%, second-lien senior secured notes due 2022.  The first-lien
notes are now rated Caa1, down from B3; and the second-lien notes
are now rated Caa3, down from Caa2. Moody's has also affirmed
Momentive's SGL-3 speculative grade liquidity rating, meaning
the company's liquidity position for the next 12-18 months
is adequate. The outlook on the ratings is stable.

"The change in Momentive's rating to Caa1 from B3 comes following
the company's poor third-quarter 2015 performance, and our
expectation that Momentive's sales and margins will come under
increasing pressure due to weakening end-markets for silicones,
especially in Asia," says Anthony Hill, a Moody's Vice President -
Senior Credit Officer and lead analyst for Momentive.

Momentive Performance Materials and its debtor-affiliates
notified the U.S. Bankruptcy Court for the Southern District of
New
York that their joint Chapter 11 plan of reorganization became
effective as of Oct. 24, 2014, at 4:00 p.m. (prevailing Eastern
Time).  The Court confirmed their joint plan on Sept. 11, 2014.


NEON FINANCE: Moody's Assigns B2 CFR & Rates $630MM Loan B3
-----------------------------------------------------------
Moody's Investors Service initiated ratings on Neon Finance Company
LLC, assigning a B2 corporate family rating and a B3 rating on its
$630 million term loan B due 2023.  Moody's also assigned a
probability of default rating of B2-PD and a speculative grade
liquidity rating of SGL-2, the outlook is stable.  Neon is a
subsidiary of WL Ross Holding Corp (WLRH), a special purpose
acquisition corp.  These ratings are based on Moody's expectation
that Neon will merge with Nexeo Solutions LLC (Nexeo) subsequent to
the acquisition by WLRH, and that Nexeo will be the surviving
entity.  In conjunction with the acquisition and associate
financing, it is intended that Nexeo's secured term loans maturing
in September, 2017, will be repaid with proceeds from the new term
loans at the closing, which is currently targeted for June 2016.
Hence, Moody's has also affirmed Nexeo's existing ratings (B2 CFR)
and will withdraw these ratings (on the 'Old' Nexeo legal entity)
after the debt is repaid.  The outlook on Nexeo's and Neon's
ratings is stable.

"Improved execution that has strengthened margins and cash flow and
allowed for debt reduction has significantly improved credit
metrics since the downgrade last year," said Joseph Princiotta, VP-
Senior Credit Officer.  "Moreover, the pending acquisition of Nexeo
by WL Ross Holdings and related refinancing will further reduce
debt and improve credit metrics."

Ratings Assigned:

Neon Finance Company, LLC (to be merged into Nexeo Solutions, LLC)

  Corporate Family Rating -- B2
  Speculative Grade Liquidity Rating -- SGL-2
  Probability of Default Rating -- B2-PD
  $630 million Sr. Sec TLB -- B3 LGD4
  Ratings outlook -- Stable

Ratings Affirmed:

Nexeo Solutions, LLC

  Corporate Family Rating -- B2
  Probability of Default Rating -- B2-PD

Ratings outlook -- Stable

Ratings to be withdrawn at closing:

  $325 mil. Gtd Sr sec term loan B-1 due 2017- B2 LGD4
  $175 mil. Sr sec term loan B-2 due 2017- B2 LGD4
  $170 mil. Sr sec term loan B-3 due 2017- B2 LGD4
  $175 mil. Gtd Sr subordinated notes due 2018 -- Caa1 LGD6

Ratings outlook – Stable

                         RATINGS RATIONALE

The assigned B2 ratings reflect modest financial leverage, which
has improved significantly over the last year due to operational
improvement and is expected to improve further at closing of the
acquisition by WRLH.  The ratings are supported by Nexeo's
economies of scale, significant market share in North America,
strong supplier base representing leading industry producers, and
long-lived customer relationships with minimal concentration. Nexeo
also benefits from diverse end markets, modest maintenance capital
expenditures, and favorable industry trends as outsourcing to
distributors has allowed the distribution business to grow faster
than overall chemicals demand.

The rating is currently limited by the uncertainty with respect to
the pace, scale and financing of future acquisitions, particularly
in light of the new major shareholders and Moody's acknowledgement
that the distribution industry remains relatively fragmented.
Ratings are also currently limited by modest margins (mid-to-high
single digits), despite recent improvements in these metrics.
Modest margins are characteristic for the distribution business
model and representative of relatively high business risk in this
space.

Improved operational execution has facilitated margin and cash flow
growth, debt reduction and stronger metrics; on a year on year
basis, Nexeo has improved its pro forma adjusted EBITDA margin by
210 bp to 5.4%, underscoring its 'spread' and pricing focus and
occurring at a time when revenues were down 18.9% due to lower
commodity chemical and plastic prices.  Better margins and cash
flow have enabled $160 million gross debt reduction and a quick and
significant improvement in Moody's adjusted leverage, which stands
at 4.7x the end of the 2016 fiscal first quarter (ending Dec. 31,
2015), but on PF basis is expected to be roughly 4.0 x as the
acquisition--related recapitalization results in a further $95
million decline in gross debt to roughly $770 million.

The operational improvements result in large part through
implementation of a centralized ERP platform that facilitates
timely connectivity with the sales force and allows for better
market intelligence and a more dynamic pricing model -- a
capability that proves important particularly in a volatile pricing
environment, as recently witnessed, Moody's noted.

Nexeo's stable outlook anticipates a continuation of the recent
favorable execution, ongoing focus on SG&A leverage, supply chain
efficiency, and portfolio optimization, and that Nexeo will sustain
the recent margin gains and leverage in a range that's supports the
ratings over time.  The outlook also contemplates the potential for
incremental acquisitions as part of the company's growth strategy,
but at a pace and scale that would not substantially increase
leverage and limit adverse impacts on credit metrics.

Nexeo's good liquidity position is supported by its cash balances
of $57.8 million as of Dec. 31, 2015, positive retained cash flows,
and capacity under its ABL revolver.  Approximately
$55 million of cash balances are held at foreign subsidiaries and
would be subject to repatriation penalties.  However, the company
believes that the cash could be repatriated through intercompany
loans with limited tax consequences.

As of Dec. 31, 2015, Nexeo had $324.3 million of availability under
its $540 million ABL facility (in US and Canadian currency). The
decline in oil prices has reduced cash used for working capital and
thus improved liquidity, but has also decreased the availability
under the ABL revolver.  The new ABL and term loans, like the
existing ABL and TLs, will not have financial covenants, except if
ABL availability falls below $40 million (or the lesser of 10% of
the ABL commitment or the borrowing base), in which case the
company would be required to maintain a minimum fixed charge
coverage ratio of 1.0x.  Additionally, Nexeo maintains two lines of
credit in China in support of Nexeo Plaschem (borrowing limit of
$28.8 and $24.2 million).

Nexeo has approximately $50 million in interest expenses annually
and makes 1% amortization payments on its term loans (roughly $6.3
million p.a.).  Other uses of cash were capital expenditures of
$29.6 million for the LTM period ending Dec. 31, 2015.  Moody's
expects capex to be in the range of $25-$30 million in 2016.

The firm does not pay a regular dividend, as certain restrictions
under the revolver apply, but does pay tax distributions to
shareholders.

Moody's would raise the ratings should Nexeo sustainably improve
its profit margins, generate positive free cash flow consistently,
and lower its leverage (Debt/EBITDA) below 4.0x.  However, an
upgrade is likely to be delayed until there's better clarity on the
pace, scale and financing of acquisitions.

Moody's would consider a downgrade in the event that leverage
returns to the elevated levels above 6.0x on a sustainable basis,
or if the company fails to generate free cash flow of at least $40
- $50 million on an annual basis.

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


NEW TRIDENT: Moody's Affirms B3 Corporate Family Rating
-------------------------------------------------------
Moody's Investors Service revised the rating outlook on New Trident
Holdcorp, Inc. to negative from stable. Moody's also affirmed the
existing ratings of TridentUSA, including the B3 Corporate Family
Rating and B3-PD Probability of Default Rating.

The change in the rating outlook reflects Moody's expectation that
liquidity will remain weak, due to a slowdown in collections of
accounts receivable associated with the implementation of the
company's new billing system. Furthermore, Moody's believes
TridentUSA's maximum total leverage covenant will be tight
throughout 2016, possibly requiring the company to seek an
amendment. Moody's also expects that the company will continue to
pursue tuck-in acquisitions to supplement organic growth.

Following is a summary of Moody's ratings:

New Trident Holdcorp, Inc.:

Ratings affirmed:

Corporate Family Rating at B3

Probability of Default Rating at B3-PD

$70 million senior secured revolver expiring 2018 at B2 (LGD 3)

$340 million senior secured 1st lien term loan due 2019 at B2 (LGD
3)

$155 million senior secured 2nd lien term loan due 2020 at Caa2
(LGD 5)

RATING RATIONALE

TridentUSA's B3 Corporate Family Rating reflects its very high
financial leverage, flat operating performance at its mobile x-ray
segment and high corporate infrastructure investments to support
recent acquisitions growth. In addition, Moody's has concerns
around the company's liquidity in light of recent delays in
accounts receivable collections and the potential for a breach of
its financial leverage covenant. Further, the rating is constrained
by TridentUSA's concentration in mobile x-ray services (including
ultrasound), which comprises about 70% of revenues. Moreover, the
ratings also reflect Moody's expectation that TridentUSA will
continue to pursue acquisitions and de novo expansion to supplement
organic growth despite liquidity challenges.

The rating is supported by the company's leading presence in a very
fragmented sector -- portable x-ray -- and its success at being the
sole industry consolidator. This provides advantages in dealing
with larger customers and creates efficiencies that can lead to
operating leverage as the company grows in the future.

The negative rating outlook reflects Moody's expectation that the
company's key credit metrics will remain weak, that patient volumes
at skilled nursing facilities will remain pressured which will
limit utilization, and availability under the company's liquidity
sources will remain very limited over the next four quarters.

The ratings could be downgraded if the company's operating
performance or sources of liquidity deteriorate, or if for any
reason Moody's becomes further concerned around the sustainability
of the company's capital structure.

The ratings could be upgraded if the company's operating
performance stabilizes and its liquidity profile improves. An
upgrade would also require that the company significantly increase
its revenue size and reduce adjusted debt to EBITDA to below 5.5
times on a sustained basis.

New Trident Holdcorp. Inc., is a holding company whose principal
operating subsidiary is TridentUSA Health Services. Based in
Burbank, CA, TridentUSA is a leading nationwide
vertically-integrated provider of outsourced ancillary healthcare
and clinical services, offering mobile x-ray, ultrasound,
teleradiology, mobile clinical and laboratory services to skilled
nursing home, assisted living, home healthcare, hospice and
correctional markets. TridentUSA is owned by private equity
sponsors Audax Group and Formation Capital. The company reported
revenues of $455 million for fiscal year-end 2015.



NORANDA ALUMINUM: Seek Approval of Modified Severance Program
-------------------------------------------------------------
Noranda Aluminum, Inc., and its affiliated debtors ask the U.S.
Bankruptcy Court for the Eastern District of Missouri, Southeastern
Division, to approve their modified senior managers' severance plan
for certain non-insider employees ("Modified Senior Management
Severance Program").

Prior to Petition Date, the Debtors maintained a Senior Managers
Severance Plan, effective Oct. 26, 2010 ("Senior Management
Severance Program") for certain senior and other management-level
employees.  The Debtors also maintained a severance plan for
salaried employees that were ineligible to participate in the
Senior Management Severance Program ("Salaried Employee Severance
Plan").  The Debtors modified the Salaried Employee Plan to provide
that eligible employees would receive severance in a lump-sum
payment equal to the lesser of (i) the severance such employee
would have received under the Salaried Employee Severance Plan and
(ii) three months' pay.  The Modified Salaried Employee Severance
Plan was approved by the Court.

The Debtors propose to modify the Senior Management Severance Plan
and seek approval of payments thereunder, to ensure non-insider
employees eligible to participate in the Senior Management
Severance Plan are treated the same as employees who are eligible
to participate in the Modified Salaried Employee Severance Plan,
and to maintain employee morale during a challenging and uncertain
time.

The Debtors seek authority to provide severance to eligible
employees who are involuntarily terminated, other than for reasons
related to misconduct, short-term reductions in force, or a refusal
of reassignment, in a lump sum payment equal to the lesser of (i)
the severance such employee would have received under the Senior
Management Severance Program and (ii) three months' pay.

The Debtors have determined in their business judgment that it is
in the best interests of their estates to implement the Modified
Senior Management Severance Program.  The Debtors contend that such
program will ensure all non-insider salaried employees whose
employment may be terminated are treated equally, which the Debtors
believe will maintain employee morale during the Chapter 11 Cases.


Noranda Aluminum, Inc., and its affiliated debtors are represented
by:

          Christopher J. Lawhorn, Esq.
          Angela L. Drumm, Esq.
          Colin M. Luoma, Esq.
          CARMODY MACDONALD P.C.
          120 S. Central Avenue, Suite 1800
          St. Louis, MO 63105
          Telephone: (314)854-8600
          Facsimile: (314)854-8660
          E-mail: cjl@carmodymacdonald.com
                  ald@carmodymacdonald.com
                  cml@carmodymacdonald.com

                - and -

          Alan W. Kornberg, Esq.
          Aidan Synnott, Esq.
          Elizabeth R. McColm, Esq.
          Alexander Woolverton, Esq.
          PAUL, WEISS, RIFKIND, WHARTON &
          GARRISON LLP
          1285 Avenue of the Americas
          New York, NY 10019
          Telephone: (212)373-3000
          Facsimile: (212)757-3990
          E-mail: akornberg@paulweiss.com
                  asynnott@paulweiss.com
                  emccolm@paulweiss.com
                  awoolverton@paulweiss.com

                      About Noranda Aluminum

Noranda Aluminum, Inc., and 10 of its affiliates filed separate
Chapter 11 bankruptcy petitions (Bankr. E.D. Mo. Proposed Lead
Case
No. 16-10083) on Feb. 8, 2016.  The petitions were signed by Dale
W. Boyles, the chief financial officer.  Judge Barry S. Schermer
is
assigned to the cases.

The Debtors have engaged Paul, Weiss, Rifkind, Wharton & Garrison
LLP as counsel, Carmody MacDonald P.C. as local counsel, PJT
Partners, LP as investment banker, Alvarez & Marsal North America,
LLC as restructuring advisors and Prime Clerk LLC as claims,
solicitation and balloting agent.

The Debtors estimated both assets and liabilities in the range of
$1 billion to $10 billion.  As of the Petition Date, the Debtors
had approximately $529.6 million in outstanding principal amount
of
secured indebtedness, consisting of a revolving credit facility
and
a term loan facility.

The Debtors had approximately 1,857 employees as of the Petition
Date.


OCTAVIA HOMES: Voluntary Chapter 11 Case Summary
------------------------------------------------
Debtor: Octavia Homes, LLC
        Attn: George Scott
        1 Amparo Way
        Neptune, NJ 07753

Case No.: 16-18711

Chapter 11 Petition Date: May 4, 2016

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

Judge: Hon. John K. Sherwood

Debtor's Counsel: Avram D White, Esq.
                  LAW OFFICE OF AVRAM D WHITE
                  66 Hampton Terrace
                  Orange, NJ 07050
                  Tel: 973-669-0857
                  Fax: 888-481-1709
                  E-mail: clistbk3@gmail.com

Estimated Assets: $500,000 to $1 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by George Scott, chief executive officer.

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


PACIFIC EXPLORATION: Seeks Colombia's Recognition of CCAA Cases
---------------------------------------------------------------
Pacific Exploration & Production Corp. on May 3 disclosed that the
Company and the Colombian branches of the following  subsidiaries
of the Company: (i) Meta Petroleum Corp., (ii) Pacific Stratus
Energy Colombia Corp. and (iii) Petrominerales Colombia Corp.
(collectively, the "Colombian Filers") filed a request for
recognition in Colombia under Law 1116 of (a) the application for
protection filed on April 27, 2016 under the Companies' Creditors
Arrangement Act (Canada) (the "CCAA") with the Superior Court of
Justice (the "Court") in Ontario and (b) the initial order obtained
from the Court on
April 27, 2016 pursuant to the CCAA in connection with the
implementation of the comprehensive restructuring transaction (the
"Restructuring Transaction") previously announced with: (i) The
Catalyst Capital Group Inc., on behalf of investment funds managed
by it ("Catalyst"); (ii) certain holders of the Company's senior
unsecured notes; and (iii) certain of the Company's lenders under
its credit facilities, which will significantly reduce debt,
improve liquidity, and best position the Company to navigate the
current oil price environment.

The Company also disclosed that the Colombian Superintendence of
Corporations (the "Superintendence") increased the level of
supervision and monitoring over the Colombian Filers and the
Colombian branch of Grupo C&C Energia (Barbados) Ltd.
(collectively, the "Colombian Branches") that it has been
exercising since February 2015 by formally assuming "control" over
such branches pursuant to a resolution issued by the
Superintendence under file 36241 (the "Resolution").  The
assumption of "control" is an administrative procedure available to
the Superintendence that allows the Superintendence to take any
preventative or remedial actions that it considers necessary to
allow a corporation to resolve critical legal, accounting, economic
or other issues.  As ordered by the Superintendence pursuant to its
control power, the granting of security over the assets of the
Colombian Branches, the transfer of their assets and transactions
by the Colombian Branches outside the ordinary course of business
will each require the prior consent of the Superintendence.  The
general control powers granted to the Superintendence by the
applicable law include: (i) promotion of plans or arrangement to
improve the situation of a corporation that is subject to such
control powers; (ii) authorization of amendments to the by-laws of
a corporation that is subject to such control powers; (iii)
authorization for the issuance and placement of shares of a
corporation that is subject to such control powers, (iv)
authorization of the granting of security over corporate assets,
transfers of corporate assets and transactions outside the ordinary
course of business; (v) removal of the administrators and internal
auditors of a corporation that is subject to such control powers,
when irregularities in their actions deem it necessary; and (vi)
the commencement of plenary reorganization procedures, among
others.   

All operations of the Company's subsidiaries (the "Pacific
Subsidiaries"), including the Colombian Branches, are expected to
continue as normal throughout this process.  Importantly, the
Company expects regular payments will be made to all of the Pacific
Subsidiaries' suppliers, trade partners, and contractors across the
jurisdictions in which it operates in accordance with local
regulations.  Additionally, employees will continue to be paid
throughout this process, without disruption.  The Company's bank
indebtedness and indebtedness in respect of its senior unsecured
notes will be restructured pursuant to the terms of the
Restructuring Transaction.

The Company also disclosed that as of the date hereof the
Restructuring Transaction has received support from creditors (the
"Supporting Creditors") holding approximately 68% of the aggregate
principal amount of the debt held by the Company's noteholders and
lenders under the Company's credit facilities.  Subject to the
terms and conditions of the restructuring support agreement entered
into by the Company, the Supporting Creditors and Catalyst, the
Supporting Creditors have agreed to support and vote in favor of
the Restructuring Transaction.

               About Pacific Exploration & Production

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.


PALADIN ENERGY: 341 Meeting of Creditors Set for May 24
-------------------------------------------------------
The meeting of creditors of Paladin Energy Corp. is set to be held
on May 24, 2016, at 2:00 p.m., according to a filing with the U.S.
Bankruptcy Court for the Northern District of Texas.

The meeting will take place at the Office of the U.S. Trustee,
Earle Cabell Federal Building, Room 976, 1100 Commerce Street,
Dallas, Texas.

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

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

                       About Paladin Energy

Paladin Energy Corp. sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Northern
District of Texas (Dallas) (Case No. 16-31590) on April 21, 2016.

The Debtor is represented by Davor Rukavina, Esq., at Munsch,
Hardt, Kopf & Harr, P.C. The case is assigned to Judge Barbara J.
Houser.

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


PASSAIC HEALTHCARE: Court OKs Sale of Assets to MedStar for $550K
-----------------------------------------------------------------
The U.S. Bankruptcy Court for the District of New Jersey authorized
Passaic Healthcare Services, LLC, d/b/a Allcare Medical, et al., to
sell substantially all of their assets to MedStar Surgical &
Breathing Equipment, Inc., for $550,000.

The Court overruling all objections on the merits, including the
objection raised by McKesson Medical-Surgical Minnesota Supply
Inc., which did not consent to the sale of the "Transferred
Assets," which inexplicably includes assets already sold to MedStar
Surgical & Breathing Equipment, Inc, as well as to the sale of the
claims against MedStar for its breaches of existing agreements with
MedStar, particularly concerning MedStar's unlawful continuing
deductions against the proceeds of DME inventory -- inventory
assets that serve as McKesson's collateral -- for purchases of new
equipment.  Likewise, McKesson does not consent to termination of
the Management Agreement or the releases in favor of MedStar, which
find themselves in the proposed order terminating the Management
Agreement.

McKesson Medical-Surgical Minnesota Supply Inc. is represented by:

       David G. Tomeo, Esq.
       BECKER LLC
       Eisenhower Plaza II
       354 Eisenhower Parkway, Suite 1500
       Livingston, New Jersey 07039
       Telephone: (973) 422-1100
       Email: dtomeo@becker.legal

       -- and --

       Jeffrey K. Garfinkle, Esq.
       BUCHALTER NEMER
       A Professional Corporation
       18400 Von Karman Avenue, Suite 800
       Irvine, California 92612
       Telephone: (949) 760-1121
       Email: jgarfinkle@buchalter.com

             About Passaic Healthcare

Based in Plainview, New York, Passaic Healthcare Services, LLC,
doing business as Allcare Medical, is a full service durable
medical equipment company specializing in clinical respiratory,
wound care and support services.  Passaic, which employs 200
individuals, has seven locations in New Jersey, New York and
Pennsylvania.

Passaic began operations in December 2010 after it acquired
substantially all of the assets of C&C Homecare, Inc., and Extended
Care Concepts through a bankruptcy sale under 11 U.S.C. Sec. 363.
After acquiring 100% of the equity interests in Galloping Hill
Surgical, LLC, and Allcare Medical SNJ, LLC, Passaic began using
"Allcare Medical" as trade name for its entire business, and
discontinued marketing under the name C&C Homecare.

Passaic Healthcare filed a Chapter 11 bankruptcy petition (Bankr.
D.N.J. Case No. 14-36129) in Trenton, New Jersey, on Dec. 31, 2014.
The case is assigned to Judge Christine M. Gravelle.

Judge Christine M. Gravelle directed that the cases of Passaic
Healthcare Services, LLC, Galloping Hill Surgical LLC, and Allcare
Medical SNJ LLC, are jointly administered with Case No. 14-36129.

The Debtor has tapped Joseph J. DiPasquale, Esq., and Thomas
Michael Walsh, Esq., at Trenk, DiPasquale, Della Fera & Sodono,
P.C., in West Orange, New Jersey, as counsel.

The Debtor disclosed $15,663,665 in assets and $46,734,414 in
liabilities as of the Chapter 11 filing.

The U.S. Trustee for Region 3 appointed five creditors to serve on
the Official Committee of Unsecured Creditors.  The Committee
tapped Arent Fox LLP as its counsel, and CBIZ Accounting, Tax &
Advisory of New York, LLC as it financial advisors.


PERMIAN HOLDINGS: Moody's Withdraws Caa1 Corporate Family Rating
----------------------------------------------------------------
Moody's Investors Service has withdrawn all ratings for Permian
Holdings, Inc., including the Caa1 Corporate Family Rating (CFR),
Caa1-PD Probability of Default Rating (PDR), and Caa1 on the senior
secured notes.

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



PETROCHOICE HOLDINGS: New Business No Impact on Moody's B2 Rating
-----------------------------------------------------------------
Moody's Investors Service says that PetroChoice Holdings, Inc.'s
(B2 stable) May 2, 2016 announced acquisition of Universal
Lubricant's new oil business is a modest credit positive, but does
not impact the rating.


PINNACLE ENTERTAINMENT: Moody's Hikes Corp Family Rating to Ba3
---------------------------------------------------------------
Moody's Investors Service upgraded Pinnacle Entertainment, Inc.'s
Corporate Family Rating to Ba3 from B1 following the closing of the
sale of substantially all of the company's real estate assets to
Gaming and Leisure Properties, Inc. (Ba1 stable), a real estate
investment trust (REIT). Pinnacle's Probability of Default Rating
was also raised, to Ba3-PD from B1-PD, and an SGL-2 Speculative
Grade Liquidity (SGL) rating was assigned. The Ba2 rating on
Pinnacle's credit facilities and B2 rating on its senior unsecured
notes were affirmed. The ratings were assigned on March 31, 2016 in
anticipation of the closing of the sale of Pinnacle's real estate
assets and with the expectation that the company's Corporate Family
Rating was going to be upgraded to Ba3 from B1.

The rating outlook is stable.

These rating actions conclude the review process that was initiated
on March 31.

Ratings upgraded:

Corporate Family Rating, to Ba3 from B1

Probability of Default Rating, to Ba3-PD from B1-PD

Ratings affirmed:

$300 million term loan B, at Ba2 (LGD3)

$400 million revolver, at Ba2 (LGD3)

$185 million term loan A, at Ba2 (LGD3)

$375 million senior unsecured notes, at B2 (LGD5)

Ratings assigned:

Speculative Grade Liquidity (SGL), at SGL-2

The upgrade reflects Pinnacle's REIT relationship with Gaming and
Leisure Properties, Inc. (GLPI) that puts in place a longer-term,
more flexible and lower cost financing mechanism that better
positions Pinnacle to deal with the longer-term challenges,
including access to capital, faced by US regional gaming companies
in general. In Moody's view, the REIT relationship with GLPI also
presents opportunities for Pinnacle to secure management contracts
from new assets at GLPI, and facilitates further diversification by
allowing it ownership of assets in jurisdictions with restrictions
on ownership of more than one asset. Other factors contributing to
the upgrade include Pinnacle's lower and more efficient cost
structure and improved free cash flow position.

RATINGS RATIONALE

"Pinnacle's Ba3 Corporate Family Rating is supported by its large
size in terms of revenue and high level of geographic
diversification, Moody's stable US gaming industry outlook, and the
operating and financial benefits we believe are available to
Pinnacle through the company's relationship with GLPI, a real
estate investment trust. Key credit concerns include Pinnacle's
high leverage. While Moody's expect leverage will improve in the
next two years, Moody's does not expect leverage to drop much below
5.0 times by the end of fiscal 2017, a level that we still consider
high for a Ba3 Corporate Family Rating, according to Moody's Global
Gaming methodology. Pro forma debt/EBITDA is about 6.2 times."

The stable rating outlook considers Moody's expectation that
Pinnacle will be able to reduce and maintain debt/EBITDA closer to
6.0 times by the end of 2016. An upgrade would require that
Pinnacle demonstrate the ability and willingness to achieve and
maintain lease-adjusted debt/EBITDA below 5.0 times. Ratings could
be lowered if it appears the company will not be able to reduce its
leverage either by choice or because of a deterioration in the
operating environment for any reason.

"Pinnacle's SGL 2 Speculative Grade Liquidity rating indicates good
liquidity and is supported by Moody's opinion that Pinnacle will be
cash flow positive over the next 12-18 month period, and that there
company does not have any material near-term scheduled debt
maturities. Additionally, we expect Pinnacle will comfortably
maintain compliance with its consolidated senior secured net
leverage and first lien leverage covenants included in the bank
facilities. Pinnacle also has discrete assets that it can sell to
raise cash should the need arise."

Pinnacle owns and operates 15 gaming entertainment businesses,
located in Colorado, Indiana, Iowa, Louisiana, Mississippi,
Missouri, Nevada and Ohio. Pinnacle holds a majority interest in
the racing license owner, as well as a management contract, for
Retama Park Racetrack outside of San Antonio, Texas. On March 29,
2016, Pinnacle entered into a definitive agreement with a
subsidiary of Gaming and Leisure Properties, Inc. to acquire the
operations of the Meadows Racetrack and Casino for total
consideration of $138.0 million.


POSTROCK ENERGY: Ch. 11 Trustee Proposes May 31 Auction
-------------------------------------------------------
Stephen J. Moriarty, as Trustee of PostRock Energy Corporation, et
al., asks the Bankruptcy Court to approve the bidding procedures
and the form of asset purchase agreement to facilitate the sale of
substantially all of the Debtors' assets.

The Trustee considered the following factors in pursuing the sale
of the Assets on expedited basis without the need of traditional
marketing efforts: (a) Trustee cannot pay all current operating
expenses on a current basis, (b) the Trustee would have to cease
all business operations without a sale of the Assets completed
within the timelines requested which would likely have a negative
effect on the debtors, their employees and creditors, and (c) the
Debtors have conducted marketing efforts, with the assistance of
professional, for an extended period without success.

The Trustee proposes, among others, the following:

   a. Bid Requirements: To qualify, a bid must be in writing and
state that: (a) the Potential Bidder offers to purchase the Assets
upon the terms and conditions set forth in the enclosed APA, marked
to show any proposed amendments and modifications thereto, (b) the
Potential Bidder’s cash offer is not subject to any due diligence
or financing contingency, subject to certain exceptions, and (c)
the Potential Bidder is ready and willing to close on its proposed
purchase of the Assets as provided in the Marked Agreement, and by
the Bid Deadline, a Potential Bidder must deposit a good faith
deposit equal to 10% of its Bid.

   b. The Auction: At the Auction, participants will be permitted
to bid based only upon the terms of the Baseline Bid. Any initial
overbid shall be equal to the Baseline Bid, plus a minimum overbid
of $25,000.00. Subsequent to the initial overbid, bidding will
continue in increments of no less than $10,000.00 in cash.

The Trustee requests that the Court establish dates for the
following events set forth in the Bidding Procedures:    

   Written Bid Deadline:            May 27, 2016      
   Notification of Baseline Bid:    May 30, 2016         
   Auction:                         May 31, 2016
   Sale Hearing:        On or after June 1, 2016

A hearing will be held on May 19, 2016, to consider the approval of
the Trustee's requested relief.

The Chapter 11 Trustee is represented by:

       Stephen J. Moriarty, Esq.
       FELLERS, SNIDER, BLANKENSHIP, BAILEY & TIPPENS
       100 North Broadway, Suite 1700
       Oklahoma City, OK   73102-8820
       Telephone: (405) 232-0621
       Facsimile: (405) 232-9659  
       Email: SMoriarty@FellersSnider.com

             About PostRock Energy

Headquartered in Oklahoma City, Oklahoma, PostRock Energy
Corporation, PostRock Energy Services Corporation, PostRock
MidContinent Production LLC, PostRock Eastern Production, LLC,
PostRock Holdco, LLC, and STP Newco, Inc. are engaged in the
acquisition, exploration, development, production and gathering of
crude oil and natural gas.  The Debtors' primary production
activity is focused in the Cherokee Basin, a 15-county region in
southeastern Kansas and northeastern Oklahoma.  The Debtors have
approximately 129 employees.

PostRock Energy, et al., filed Chapter 11 bankruptcy petitions
(Bankr. W.D. Okla. Lead Case No. 16-11230) on April 1, 2016.  Clark
Edwards signed the petitions as president.  The Debtors estimated
assets in the range of $10 million to $50 million and debt of up to
$100 million.

Crowe & Dunlevy, P.C. serves as the Debtors' counsel.

Judge Sarah A. Hall is assigned to the cases.


POSTROCK ENERGY: Trustee Wants Assets Sold Through Auction
----------------------------------------------------------
Stephen J. Moriarty, Trustee for PostRock Energy Corporation, et
al., asks the U.S. Bankruptcy Court for the Western District of
Oklahoma, to approve the sale of the Debtors' assets free and clear
of all liens, claims encumbrances and interests to the winning
bidder.

Mr. Moriarty proposes to conduct an auction for the Assets of the
Debtors to the highest bidder or bidders.  While Mr. Moriarty has
not received a Stalking Horse Bid, he reserves the right to
continue his efforts to negotiate and submit a Stalking Horse Bid
that would serve as the Baseline Bid for the Auction.

Mr. Moriarty submits that the proposed sale of the Purchased Assets
is a reasonable business decision in light of the circumstances and
is in the best interest of the estate and its creditors.  Mr.
Moriarty further submits that the proposed sale presents the best
opportunity to realize the maximum value of the estate's assets for
distribution to creditors and is necessary to preserve the value of
the estate's assets for the estate and its creditors.  Mr. Moriarty
adds that such process will be conducted in good faith and at arm's
length, be subject to proper notice, and will yield the highest and
best offer for the Purchased Assets.  Mr. Moriarty asserts that the
sale of the Purchase Assets is an appropriate exercise of the
Trustee's business judgment.

The Mr. Moriarty's Motion is scheduled for hearing on June 1, 2016
at 9:30 a.m.

Stephen J. Moriarty, trustee for PostRock Energy, et al., is
represented by:

          Stephen J. Moriarty, Esq.
          FELLERS, SNIDER, BLANKENSHIP, BAILEY & TIPPENS
          100 North Broadway, Suite 1700
          Oklahoma City, OK 73102-8820
          Telephone: (405)232-0621
          Facsimile: (405)232-9659
          E-mail: Smoriarty@FellersSnider.com

                 About PostRock Energy Corporation

Headquartered in Oklahoma City, Oklahoma, PostRock Energy
Corporation, PostRock Energy Services Corporation, PostRock
MidContinent Production LLC, PostRock Eastern Production, LLC,
PostRock Holdco, LLC, and STP Newco, Inc. are engaged in the
acquisition, exploration, development, production and gathering of
crude oil and natural gas.  The Debtors' primary production
activity is focused in the Cherokee Basin, a 15-county region in
southeastern Kansas and northeastern Oklahoma.  The Debtors have
approximately 129 employees.

PostRock Energy, et al., filed Chapter 11 bankruptcy petitions
(Bankr. W.D. Okla. Lead Case No. 16-11230) on April 1, 2016.  Clark
Edwards signed the petitions as president.  The Debtors estimated
assets in the range of $10 million to $50 million and debt of up to
$100 million.

Crowe & Dunlevy, P.C. serves as the Debtors' counsel.

Judge Sarah A. Hall is assigned to the cases.


QUALITY TEAM: Court Extends Plan Exclusivity to May 23
------------------------------------------------------
At the behest of Quality Team Management, Inc., Bankruptcy Judge
Guy R. Humphrey in Dayton, Ohio, extended the Debtor's exclusivity
period within which to file a reorganization plan for 60 days,
through and including May 23, 2016, and the attendant solicitation
period by 60 days thereafter, without prejudice to the Debtor's
right to seek further extensions of the exclusivity period.

Quality Team Management, Inc., dba Riverside Hotels, LLC, based in
Middletown, Ohio, filed a Chapter 11 petition (Bankr. S.D. Ohio
Case No. 15-30453) on February 24, 2015, listing $1 million to $10
million in both assets and liabilities.  Judge Guy R Humphrey
presides over the case.  The Debtor is represented by:

     John Paul Rieser, Esq.
     RIESER & MARX LLC
     7925 Graceland Street
     Dayton, OH 45459
     Tel: (937) 224-4128
     E-mail: attyecfdesk@riesermarx.com

The petition was signed by Nayeem Aziz, president/owner.


QUANTUM FUEL: Court Approves June 24 Auction for Assets
-------------------------------------------------------
Judge Mark S. Wallace of the U.S. Bankruptcy Court for the Central
District of California, Santa Ana Division, approved Quantum Fuel
Systems Technologies Worldwide, Inc. doing business as Quantum
Technologies' bidding procedures in connection with the sale of its
assets.

A Stalking Horse Asset Purchase Agreement was executed by the
Debtor and Douglas Acquisitions, LLC ("Douglas"), the K&M Douglas
Trust and the Douglas Irrevocable Descendant's Trust.

The Bidding Procedures contain, among others, these relevant
terms:

     (a) Bid Deadline: The deadline for submitting bids by a
qualified bidder will be June 20, 2016 at 5:00 p.m.

     (b) Required Cash Consideration: To be considered a Qualified
Bid, a Bid must provide for Cash Consideration to be paid at
Closing in the minimum amount of $23,000,000 plus the amount, if
any, by which the amount outstanding on the DIP Facility exceeds $6
million as of Closing.

     (c) Auction: The Auction will commence at 10:00 a.m., on June
24, 2016.

     (d) Break-Up Fee and Expense Reimbursement:  To the extent the
Stalking Horse Bidder is entitled to the Break-up Fee and the
Expense Reimbursement pursuant to the terms of the Agreement, such
payment will be payable in accordance with the Agreement.  The
Break-up Fee will be paid only if the aggregate purchase price of
any bids submitted during the auction exceeds a certain threshold
as provided in the Agreement and Bidding Procedures Order, but will
be payable only out of the cash proceeds.

     (e) Sale Hearing:  The sale hearing will be conducted by the
Bankruptcy Court on June 29, 2016 at 9:00 a.m.

     (f) Sale Objection Deadline:  On or before 4:00 p.m. on June
20, 2016

Quantum Fuel Systems Technologies Worldwide is represented by:

          Victor A. Vilaplana, Esq.
          Marshall J. Hogan, Esq.
          FOLEY & LARDNER LLP
          3579 Valley Centre Drive, Suite 300
          San Diego, CA 92130
          Telephone: (858)847-6700
          Facsimile: (858)792-6773
          E-mail: vavilaplana@foley.com
                  mhogan@foley.com

                - and -

          John A. Simon, Esq.
          FOLEY & LARDNER, LLP
          One Detroit Center
          500 Woodward Avenue, Suite 2700
          Detroit, MI 48226-3489
          Telephone: (313)234-7117
          Facsimile: (313)234-2800
          E-mail: jsimon@foley.com

                    About Quantum Fuel Systems

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.


REAGAN HOSPITAL: Moody's Lowers Rating to Ba2
---------------------------------------------
Moody's Investors Service has downgraded to Ba2 from Baa2 the
rating on Reagan Hospital District, TX's general obligation limited
tax and revenue bonds. "Concurrently, we have assigned a negative
outlook. The rating action affects $31.4 million of debt
outstanding. The district's rating was placed under review for
possible downgrade on March 4, 2016 due to exposure to the oil and
gas industry. This action concludes that review," Moody's said.

The downgrade reflects the significant tax base decline estimated
for fiscal 2017 due to a reduction in mineral values amid
persistently low oil prices and weak liquidity. The district's
adequate taxing margin under the state mandated tax rate cap and
moderate debt burden with no near term issuance plans are also
factored into the rating. The rating considers positive financial
operations in current year fiscal 2016 based on year-to-date
budget-to-actual performance and end of year expectations
indicating that liquidity will improve but remain narrow compared
to peers with this high degree of tax base concentration.

Rating Outlook

The negative outlook reflects the downside risk of the district's
significant economic and tax base exposure to the weak oil and gas
industry over the next 12-18 months while oil prices remain low.
The district's ability to adapt to the tax base declines and
improve liquidity will be key factors in near term reviews.

Factors that Could Lead to an Upgrade (Remove Negative Outlook)

Tax base stabilization

Sustained improvement in liquidity and reserves

Factors that Could Lead to a Downgrade

Prolonged tax base declines

Lack of material improvement or deterioration in liquidity

Increase in debt obligations

Legal Security

The bonds are secured by a direct and continuing ad valorem tax,
levied on all taxable property in the district, within the limits
prescribed by law. The bonds are additionally secured by net
revenues of the district.

Use of Proceeds. Not applicable.

Obligor Profile

Reagan Hospital District, TX is located in Reagan County in west
Texas. Its boundaries encompass approximately 1,177 square miles
and are coterminous with Reagan County Independent School District.
The district operates Reagan Memorial Hospital, a 14-bed general
medical, surgical, and critical access hospital in Big Lake, TX
approximately 75 miles south of the Midland/Odessa metropolitan
statistical area. The hospital is a public acute care hospital and
provides inpatient, outpatient and emergency care services of the
district. The closest tertiary facilities are approximately 70
miles away in San Angelo.


REPUBLIC AIRWAYS: Court Approves $75-Mil. Delta DIP Loan
--------------------------------------------------------
Judge Sean H. Lane of the U.S. Bankruptcy Court for the Southern
District of New York issued a modified bench ruling on Republic
Airways Holdings, Inc., et al.'s motions to assume codeshare and
related agreements with Delta Air Lines, Inc., settle claims
between Delta, and seek authority to obtain debtor-in-possession
financing.

As previously reported by The Troubled Company Reporter, the
Debtors sought authority to obtain postpetition
financing up to an aggregate principal amount of $75 million from
Delta.

The Debtors ask the Court to grant the DIP Lender first priority
liens on one Embraer E170 regional jet aircraft, equipped with two
General Electric CF34-8 engines, 10 CFM34-8 engines, and all other
unencumbered assets of the Debtors, subject to the Carve-Out, and
grant a first priority priming lien on 15 specified individual
LaGuardia Airport arrival and departure slots, and grant junior
liens on all tangible and intangible property of the Debtors that
is subject to valid, perfected and unavoidable liens in existence
on the Petition Date.

Judge Lane approved the Settlement Motion overruled the objection
of the Ad Hoc Committee.  More specifically, the Court finds that
the record in the case establishes that the settlement is fair and
equitable and in the best interests of the estate when considering
the seven interrelated factors set forth in Iridium and other cases
under Rule 9019.  More specifically, the Court concludes the
settlement should be approved given: the likelihood of success of
the Delta litigation and other claims that Delta might pursue in
this bankruptcy; the risk, expense, and delay of such litigation;
the interest of the creditors and the overall support for the
settlement by everyone other than the Ad Hocs; the competency of
the parties negotiating the settlement; the releases provided under
the agreement and the settlement being the result of arm's length
bargaining.  The Court also concludes that the debtors have
satisfied the standard for assumption and use of estate property
under applicable bankruptcy law.  In fact, the Court finds that
there are substantial benefits to the debtors in this global
settlement.

With respect to the Financing Motion, the Court concludes that the
motion satisfies all the requirements of applicable law.  Judge
Lane finds that as a threshold matter, the terms of the financing
appear reasonable.  The terms include an interest rate of 5.75%,
minimal fees of 1% upfront and an unused commitment fee of 1%, a
cap on the lender's professional fees, the ability to make multiple
draws and flexibility on whether to draw at all, minimal conditions
to borrowing, and no prepayment penalties.

To the extent any objections or reservations of rights to the
Motion have not been withdrawn or resolved by this Order, they are
overruled in all respects on the merits.

There was a reservation of rights of Banco Nacional de
Desenvolvimento Economico e Social BNDES and Agencia Especial de
Financiamento Inustrial FINAME to the debtors' motion.  There was
an objection of the Ad Hoc Committee of Equity Holders.  There was
a limited objection of the Official Committee of Unsecured
Creditors.  There was another joinder and reservation of rights by
the International Brotherhood of Teamsters.  And there was a
corrected objection of the United States of America.  All of the
objections have been resolve but one, and, once again, the
remaining objection is by the Ad Hoc Committee.

A full-text copy of Judge Lane's Modified Bench Ruling dated May 3,
2016, is available at http://bankrupt.com/misc/REPUBLIC5120504.pdf

A full-text copy of the DIP Order dated May 3, 2016, is available
at http://bankrupt.com/misc/REPUBLIC5070503.pdf

Appearances:

          ZIRINSKY LAW PARTNERS PLLC
          Attorneys for the Debtors
          375 Park Avenue, Suite 2607
          New York, NY 10152
          By: Bruce R. Zirinsky, Esq.
              Sharon J. Richardson, Esq.
              Gary D. Ticoll, Esq.

          HUGHES HUBBARD & REED LLP
          Attorneys for the Debtors
          One Battery Park Plaza
          New York, NY 10004
          By: Christopher K. Kiplok, Esq.
              Meaghan Gragg, Esq.

          SCHULTE ROTH & ZABEL LLP
          Attorneys for the Ad Hoc Equity Committee
          919 Third Avenue
          New York, NY 10022
          By: Adam C. Harris, Esq.
              David M. Hillman, Esq.
              Lawrence V. Gelber, Esq.

          UNITED STATES DEPARTMENT OF JUSTICE
          OFFICE OF THE UNITED STATES TRUSTEE
          201 Varick Street, Suite 1006
          New York, NY 10014
          By: Brian S. Masumoto, Esq.

          MORRISON & FOERSTER LLP
          Attorneys for the Official Creditors' Committee
          250 West 55th Street
          New York, NY 10019
          By: Todd M. Goren, Esq.
              Brett Miller, Esq.

          DAVIS POLK & WARDWELL LLP
          Attorneys for Delta Air Lines, Inc.
          450 Lexington Avenue
          New York, New York 10017
          By: Marshall S. Huebner, Esq.
              Darren S. Klein, Esq.
              Michael J. Russano, Esq.
          Email: marshall.huebner@davispolk.com
                 darren.klein@davispolk.com
                 michael.russano@davispolk.com

                     About Republic Airways
  
Republic Airways Holdings Inc., based in Indianapolis, is an
airline holding company (NASDAQ: RJET) that owns Republic Airline
and Shuttle America Corporation.  Republic Airline and Shuttle
America -- http://www.rjet.com/-- offer approximately 1,000  
flights daily to 105 cities in 38 states, Canada, the Caribbean,
and the Bahamas through Republic's fixed-fee codeshare agreements
under our major airline partner brands of American Eagle, Delta
Connection and United Express.  The airlines currently employ
about
6,000 aviation professionals.  

On Feb. 25, 2016 Republic Airways Holdings Inc. and 6 affiliated
debtors each filed a voluntary petition for relief under Chapter
11
of the United States Bankruptcy Code in the United States
Bankruptcy Court for the Southern District of New York.   The
Debtors have requested that their cases be jointly administered
under Case No. 16-10429.  The petitions were signed by Joseph P.
Allman as senior vice president and chief financial officer.

Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are
serving as Republic's legal advisors in the restructuring.
Seabury
Group LLC is serving as financial advisor.  Deloitte & Touche LLP
is the independent auditor.  Prime Clerk is the claims and
noticing
agent.

The U.S. Trustee for Region 2 appointed seven creditors of Republic
Airways Holdings Inc. to serve on the official committee of
unsecured creditors.  The Committee retained Morrison & Foerster
LLP as counsel and Imperial Capital, LLC as investment banker and
co-financial advisor.


REPUBLIC AIRWAYS: Deal Granting Delta's Claim for $170M Approved
----------------------------------------------------------------
Judge Sean H. Lane of the U.S. Bankruptcy Court for the Southern
District of New York authorized Republic Airways Holdings Inc., et
al., to assume codeshare and related agreements with Delta Air
Lines, Inc., lease certain property of the estate, and settle
certain claims between Delta and the Debtors.

The Debtors are authorized to amend the Single Class Agreement via
entry into Single Class Amendment 14 and the Dual Class Agreement
via entry into Dual Class DCA Amendment 8 and assume the Amended
Flying Agreements.  The Debtors are also authorized to assume the
LGA 2 Slot Lease.  The Debtors are further authorized to amend the
Ground Handling Agreement via entry into the Ground Handling
Amendment and to assume the Amended Ground Handling Agreement.

Delta is granted an allowed prepetition general unsecured claim in
the amount of $170,000,000 against each of RAH and Shuttle America,
not subject to offset, subordination, attack or other challenge.

To the extent any objections or reservations of rights to the
Motion have not been withdrawn or resolved by this Order, they are
overruled in all respects on the merits.  The first was the limited
omnibus objection of the Official Committee of Unsecured Creditors,
which objection was resolved by the parties.  In light of the
changes, the Committee affirmatively supported the relief sought by
the debtors in the Settlement Motion.  Second, there was a short
joinder and reservation of rights of the International Brotherhood
of Teamsters, Airline Division, to the limited omnibus objection of
the Committee.  In light of the Committee's withdrawal of its
objection, the joinder was resolved.  Third, there was an objection
of the Ad Hoc Committee.  Judge Lane overruled the Ad Hoc
Committee's objection.

Judge Lane approved the Settlement Motion overruled the objection
of the Ad Hoc Committee.  More specifically, the Court finds that
the record in the case establishes that the settlement is fair and
equitable and in the best interests of the estate when considering
the seven interrelated factors set forth in Iridium and other cases
under Rule 9019.  More specifically, the Court concludes the
settlement should be approved given: the likelihood of success of
the Delta litigation and other claims that Delta might pursue in
this bankruptcy; the risk, expense, and delay of such litigation;
the interest of the creditors and the overall support for the
settlement by everyone other than the Ad Hocs; the competency of
the parties negotiating the settlement; the releases provided under
the agreement and the settlement being the result of arm's length
bargaining.  The Court also concludes that the debtors have
satisfied the standard for assumption and use of estate property
under applicable bankruptcy law.  In fact, the Court finds that
there are substantial benefits to the debtors in this global
settlement.

A full-text copy of Judge Lane's Modified Bench Ruling dated May 3,
2016, is available at http://bankrupt.com/misc/REPUBLIC5120504.pdf

                     About Republic Airways
  
Republic Airways Holdings Inc., based in Indianapolis, is an
airline holding company (NASDAQ: RJET) that owns Republic Airline
and Shuttle America Corporation.  Republic Airline and Shuttle
America -- http://www.rjet.com/-- offer approximately 1,000  
flights daily to 105 cities in 38 states, Canada, the Caribbean,
and the Bahamas through Republic's fixed-fee codeshare agreements
under our major airline partner brands of American Eagle, Delta
Connection and United Express.  The airlines currently employ
about
6,000 aviation professionals.  

On Feb. 25, 2016 Republic Airways Holdings Inc. and 6 affiliated
debtors each filed a voluntary petition for relief under Chapter
11
of the United States Bankruptcy Code in the United States
Bankruptcy Court for the Southern District of New York.   The
Debtors have requested that their cases be jointly administered
under Case No. 16-10429.  The petitions were signed by Joseph P.
Allman as senior vice president and chief financial officer.

Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are
serving as Republic's legal advisors in the restructuring.
Seabury
Group LLC is serving as financial advisor.  Deloitte & Touche LLP
is the independent auditor.  Prime Clerk is the claims and
noticing
agent.

The U.S. Trustee for Region 2 appointed seven creditors of Republic
Airways Holdings Inc. to serve on the official committee of
unsecured creditors.  The Committee retained Morrison & Foerster
LLP as counsel and Imperial Capital, LLC as investment banker and
co-financial advisor.


REPUBLIC AIRWAYS: Equity Holders Appeal Delta Settlement Approval
-----------------------------------------------------------------
The Ad Hoc Committee of Equity Holders of Republic Airways
Holdings, Inc., appeals from the U.S. Bankruptcy Court for the
Southern District of New York's order authorizing the Debtors to
assume codeshare and related agreements with Delta Air Lines, Inc.,
and settle certain claims between Delta and the Debtors.

The Ad Hoc Committee is represented by Adam C. Harris, Esq., David
M. Hillman, Esq., and Lawrence V. Gelber, Esq., at Schulte Roth &
Zabel LLP, in New York.

                     About Republic Airways
  
Republic Airways Holdings Inc., based in Indianapolis, is an
airline holding company (NASDAQ: RJET) that owns Republic Airline
and Shuttle America Corporation.  Republic Airline and Shuttle
America -- http://www.rjet.com/-- offer approximately 1,000  
flights daily to 105 cities in 38 states, Canada, the Caribbean,
and the Bahamas through Republic's fixed-fee codeshare agreements
under our major airline partner brands of American Eagle, Delta
Connection and United Express.  The airlines currently employ
about
6,000 aviation professionals.  

On Feb. 25, 2016 Republic Airways Holdings Inc. and 6 affiliated
debtors each filed a voluntary petition for relief under Chapter
11
of the United States Bankruptcy Code in the United States
Bankruptcy Court for the Southern District of New York.   The
Debtors have requested that their cases be jointly administered
under Case No. 16-10429.  The petitions were signed by Joseph P.
Allman as senior vice president and chief financial officer.

Zirinsky Law Partners PLLC and Hughes Hubbard & Reed LLP are
serving as Republic's legal advisors in the restructuring.
Seabury
Group LLC is serving as financial advisor.  Deloitte & Touche LLP
is the independent auditor.  Prime Clerk is the claims and
noticing
agent.

The U.S. Trustee for Region 2 appointed seven creditors of Republic
Airways Holdings Inc. to serve on the official committee of
unsecured creditors.  The Committee retained Morrison & Foerster
LLP as counsel and Imperial Capital, LLC as investment banker and
co-financial advisor.


RIENZI & SONS: Gets Approval to Resolve Banco Popolare Claim
------------------------------------------------------------
Rienzi & Sons, Inc. received court approval for a deal that would
resolve the claim of Banco Popolare Societa Cooperative.

The order, issued by Judge Nancy Hershey Lord of the U.S.
Bankruptcy Court for the Eastern District of New York, approved the
company's proposed settlement of the bank's $9.3 million claim.

The claim is based upon two judgments issued in two cases involving
the company.   

The first judgment is a judgment in the case brought against Rienzi
& Sons by Acque Minerale Riunite S.p.A.  The case alleges breach by
the company of a stock purchase agreement.  

The second judgment is the result of a challenge to Banco Poplare
standing to enforce the first judgment in a plenary action, Rienzi
& Sons Inc. v. Monticchio Gaudianello S.p.A., Tribunal de Verona
(Italy), according to court filings.

                     About Rienzi & Sons, Inc.

Rienzi & Sons filed a Chapter 11 bankruptcy petition (Bankr.
E.D.N.Y. Case No. 15-40926) on March 3, 2015. The petition was
signed by Michael Rienzi as president.  The Debtor disclosed assets
of 13,349,383 and total liabilities of $24,965,511.

Vincent J Roldan, Esq., and Michael J. Sheppeard, Esq., at Ballon
Stoll Bader & Nadler P.C., serve as counsel to the Debtor.  Judge
Nancy Hershey Lord presides over the Chapter 11 case.

Wayne Greenwald, P.C., represents Alma Bank.

The U.S. Trustee for for Region 2 appointed five creditors to serve
in the Official Committee of Unsecured Creditors.  Klestadt Winters
Jureller Southard & Stevens LLP represents the Committee.


ROVI CORP: Tivo Deal No Impact on Moody's Ba3 CFR
-------------------------------------------------
Moody's Investor Service said that Rovi Corporation's definitive
agreement to acquire Tivo, Inc. is credit positive because the
combined entity will have an enhanced financial profile, lower
financial leverage (pro forma leverage under 4x) and a leading
position in content discovery and analytics, aided by an expanded
intellectual property portfolio obtained in the acquisition.
However, the Ba3 corporate family rating and negative outlook
remain unchanged.


SANTA CRUZ BERRY: Creditors Drop Bid to Dismiss Case
----------------------------------------------------
K&M Enterprises LLC and California Coastal Rural Development Corp.
have dropped their bid to either dismiss or convert the Chapter 11
case of Santa Cruz Berry Farming Company, LLC to a Chapter 7
liquidation.

The move came after the creditors entered into a settlement
agreement with the company early this year.  The U.S. Bankruptcy
Court for the Northern District of California approved the deal on
April 15, according to court filings.

Another creditor Tom Lange Company Inc. also withdrew a similar
motion after the court approved its settlement agreement with Santa
Cruz Berry Farming in April.

                 About Santa Cruz Berry Farming

Watsonville, California-based Santa Cruz Berry Farming grows
conventional and organic strawberries.  The privately owned company
was founded by and is currently managed by Fritz Koontz.  Seven
Seas Berry Sales, a division of the Tom Lange Co., is the sales
agent for the Company.

Santa Cruz Berry Farming Company, LLC, and Corralitos Farms, LLC,
commenced Chapter 11 bankruptcy cases (Bankr. N.D. Cal. Case Nos.
15-51771 and 15-51772) in San Jose, California, on May 25, 2015.

The Debtors tapped Thomas A. Vogele, Esq., at Thomas Vogele and
Associates, APC, in Costa Mesa, California, as counsel.

The Official Committee of Unsecured Creditors has retained Michael
A. Sweet, Esq., and Dale L. Bratton, Esq., at Fox Rothschild LLP,
as attorneys.


SANTA CRUZ BERRY: Has Until June 15 to File Case vs. NAI
--------------------------------------------------------
A federal judge has set a June 15, 2016 deadline for Santa Cruz
Berry Farming Company LLC to file an adversary proceeding for
turnover against Nationwide Agribusiness Insurance.

The company may notice a status conference if it is not able to
file an adversary case prior to expiration of the deadline,
according to the order issued by U.S. Bankruptcy Judge M. Elaine
Hammond.

Failure to comply with the requirements of the court order may
result in the dismissal or conversion of Santa Cruz Berry Farming's
Chapter 11 case to a Chapter 7 liquidation, or in the appointment
of a bankruptcy trustee.

                 About Santa Cruz Berry Farming

Watsonville, California-based Santa Cruz Berry Farming grows
conventional and organic strawberries.  The privately owned company
was founded by and is currently managed by Fritz Koontz.  Seven
Seas Berry Sales, a division of the Tom Lange Co., is the sales
agent for the Company.

Santa Cruz Berry Farming Company, LLC, and Corralitos Farms, LLC,
commenced Chapter 11 bankruptcy cases (Bankr. N.D. Cal. Case Nos.
15-51771 and 15-51772) in San Jose, California, on May 25, 2015.

The Debtors tapped Thomas A. Vogele, Esq., at Thomas Vogele and
Associates, APC, in Costa Mesa, California, as counsel.

The Official Committee of Unsecured Creditors has retained Michael
A. Sweet, Esq., and Dale L. Bratton, Esq., at Fox Rothschild LLP,
as attorneys.


SETTLER'S GHOST: Receiver to Sell Principal Assets
--------------------------------------------------
Ira Smith Trustee & Receiver Inc., solely in its capacity as
court-appointed receiver and manager of Settler's Ghost Club
Limited Partnership and FSP Holdings Inc., is offering for sale, as
approved by order of the Ontario Superior Court of Justice dated
April 29, 2016, its right, title and interest, if any, in of all of
the assets, properties undertaking of Settler's Ghost on an "as is,
where is" basis.

Settler's Ghost's principal assets is a 114.025 acre site featuring
a par 72, 18-hole golf course.  The golf course is located at 3421
McNutt Road, RR#1, Barrie, Ontario, in the township of Oro-Medonte.
The property also include undeveloped forest land, and irrigation
holding pond, deep well pump and structure, parking lot,
maintenance facility, century old barn, 650 sq. ft. pro shop, 2520
sq. ft. restaurant and other ancillary structures, features and
chattels related to the golf course and restaurant operation.

Assets include, without limitation, all land, buildings, machinery,
irrigation system, existing inventory, account receivable, assumed
contracts, intellectual property, prepaids, office, restaurant and
pro shop inventory, equipment and furniture, turf equipment, and
goodwill.

Interested parties should contact the receiver for further
information and terms, and condition of sale:

   Brandon Smith
   Senior Vice-President
   Ira Smith Trustee & Receiver Inc.
   Suite 6-167 Applewood Crescent
   Vaughan, ON L4K 4K7
   Tel: 905-738-4167 ext. 113
   Fax: 905-738-9848
   Email: brandon@irasmithinc.com


SFX ENTERTAINMENT: Seek Approval of Beatport Asset Sale
-------------------------------------------------------
SFX Entertainment, Inc., and its affiliated debtors ask the U.S.
Bankruptcy Court for the District of Delaware to approve the sale
of substantially all of the assets debtor Beatport, LLC ("Seller"),
free and clear of all liens, claims, encumbrances and interests.

"While the Beatport Assets are valuable to the SFX enterprise, due
to SFX's current financial condition, SFX cannot afford to make
additional financial investments in Beatport as may be needed in
the future, and therefore, has decided to sell the Beatport Assets.
The Debtors determined that the Sale would be in the best
interests of the Debtors, their estates, creditors and other
parties in interest.  In connection with obtaining
debtor-in-possession financing, the Debtors agreed to sell the
Beatport Assets through a sale under Section 363 of the Bankruptcy
Code," the Debtors aver.

The Debtors seek Court approval of the Final Purchase Agreement,
which contains, among others, the following relevant terms:

     (a) Public Sale/Competitive Bidding: The Debtors contemplate
conducting an auction to solicit competing bids in order to obtain
the highest or otherwise best offer for the Beatport Assets.

     (b) Good Faith Deposit: The proposed Purchaser of the Beatport
Assets is required to provide a deposit in an amount equal to the
greater of $2 million or at least 10% of the proposed purchase
price set forth in the proposed Purchaser's Written Offer in order
to participate in the auction process.  The Deposit is subject to
forfeiture upon termination of the Asset Purchase Agreement by the
Seller.

     (c) Closing and Other Deadlines: The Closing must occur on a
Business Day mutually acceptable to the Parties, at 10:00 a.m., New
York time, in the offices of the Debtors' counsel.  Either Party
may terminate the Asset Purchase Agreement if the Closing will not
have occurred by the date that is 15 days following the date that
the Sale Order is entered by the Bankruptcy Court.

To facilitate and effectuate the Sale, the Debtors also seek
authority to assume and/or assign certain Contracts from the Seller
to the Successful Bidder or Backup Bidder, as applicable.  The
Debtors further seek authority to reject any Contract that is not
designated to become an Assumed Contract.

Judge Mary F. Walrath had approved the Debtors' Bid Procedures, in
her Order dated March 23, 2016.

The Bid Procedures contain, among others, the following relevant
terms:

     (a) Bid Deadline: April 28, 2016 at 12:00 p.m.

     (b) Auction: May 3, 2016 at 11:00 a.m.

     (c) Sale Hearing: May 5, 2016 at 10:30 a.m.

     (d) Objection Deadline: (i) On or before the date that is
seven days before the date of the Sale Hearing or (ii) on or before
the date that is one day before the Sale Hearing if the Auction is
concluded less than seven days prior to the Sale Hearing.
SFX Entertainment, Inc., and its affiliated debtors are represented
by:

          Dennis A. Meloro, Esq.
          GREENBERG TRAURIG, LLP
          The Nemours Building
          1007 North Orange Street, Suite 1200
          Wilmington, DE 19801
          Telephone: (302)661-7000
          Facsimile: (302)661-7360
          E-mail: melorod@gtlaw.com

                - and -

          Nancy A. Mitchell, Esq.
          Maria J. DiConza, Esq.
          Nathan A. Haynes, Esq.
          GREENBERG TRAURIG, LLP
          MetLife Building
          200 Park Avenue
          New York, NY 10166
          Telephone: (212)801-9200
          Facsimile: (212)801-6400
          E-mail: mitchelln@gtlaw.com
                  diconzam@gtlaw.com
                  haynesn@gtlaw.com

                      About SFX Entertainment

SFX Entertainment, Inc., and 43 of its affiliates, a global
producer of live events and digital entertainment content focused
exclusively on the electronic music culture and other world-class
festivals, filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Case Nos. 16-10238 to 16-10281) on Feb. 1, 2016.  The petitions
were signed by Michael Katzenstein as chief restructuring
officer.

The Debtors disclosed total assets of $661.6 million and total
debts of $490.2 million.

Greenberg Traurig, LLP, serves as the Debtors' counsel.  Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.

Judge Mary F. Walrath is assigned to the case.


SFX ENTERTAINMENT: Seeks Approval of Fame House Assets Sale
-----------------------------------------------------------
SFX Entertainment, Inc. and its affiliated debtors ask the U.S.
Bankruptcy Court for the District of Delaware, to approve the sale
of substantially all of the assets of the business of debtor SFX
Marketing LLC d/b/a Fame House ("Fame House Assets"), free and
clear of all liens, claims, encumbrances and interests to the
applicable successful bidder or backup bidder.

The Debtors contend that they no longer view the Fame House Assets
as core to the SFX platform.  The Debtors further contended that
the Sale would be in their best interests, their estates, creditors
and other parties in interest.

The Debtors ask the Court to approve their Final Purchase
Agreement, which contains, among others, these relevant terms:

     (a) Public Sale/Competitive Bidding: The Debtors contemplate
conducting an auction to solicit competing bids in order to obtain
the highest or otherwise best offer for the Fame House Assets.

     (b) Good Faith Deposit: The proposed Purchaser of the Fame
House Assets is required to provide a deposit equal to 10% of the
proposed purchase price in order to participate in the auction
process.  The Deposit is subject to forfeiture upon termination of
the Asset Purchase Agreement by the Seller.

     (c) Closing and Other Deadlines: The Closing must occur on a
Business Day mutually acceptable to the Parties, at 10:00 a.m., New
York time, in the offices of the Debtors' counsel. Either Party may
terminate the Asset Purchase Agreement if the Closing will not have
occurred by the date that is 15 days following the date that the
Sale Order is entered by the Bankruptcy Court.

The Debtors also seek authority to assume and/or assign certain
contracts and leases from the Seller to the Successful Bidder of
Backup Bidder, as applicable.

Judge Mary F. Walrath approved the Debtors' Bid Procedures relating
to the sale of all or substantially all of the assets of the Fame
House Business, in her order dated March 18, 2016.

The Bid Procedures contain, among others, these relevant terms:

     (a) Bid Deadline: March 28, 2016 at 12:00 p.m.

     (b) Auction: March 31, 2016 at 11:00 a.m.

     (c) Sale Hearing: April 5, 2016 at 10:30 a.m.

     (d) Objection Deadline: (i) On or before the date that is
seven days for the date of the Sale Hearing, or (ii) on or before
the date that is one day before the Sale Hearing if the Auction is
concluded less than seven days prior to the Sale Hearing.

                       Objection to Motion

TriNet Group, Inc., and its subsidiaries objects to the proposed
assumption and assignment of certain executory contracts between
the Debtors and TriNet, and reserves all rights related thereto,
both because: (a) the cure proposed may be inaccurate; and (b) the
Sale Motion does not provide TriNet with sufficient information to
determine whether the purchaser/assignee is capable of performing
under the terms of the contract the Debtors seek to assume and
assign, or even to ascertain whether the assignee is a TriNet
competitor.

TriNet asks the Court to deny the Sale Motion to the extent it
seeks authority for the Debtors to assume and assign any TriNet
Agreement.

SFX Entertainment, Inc., and its affiliated debtors are represented
by:

          Dennis A. Meloro, Esq.
          GREENBERG TRAURIG, LLP
          The Nemours Building
          1007 North Orange Street, Suite 1200
          Wilmington, DE 19801
          Telephone: (302)661-7000
          Facsimile: (302)661-7360
          E-mail: melorod@gtlaw.com

                - and -

          Nancy A. Mitchell, Esq.
          Maria J. DiConza, Esq.
          Nathan A. Haynes, Esq.
          GREENBERG TRAURIG, LLP
          MetLife Building
          200 Park Avenue
          New York, NY 10166
          Telephone: (212)801-9200
          Facsimile: (212)801-6400
          E-mail: mitchelln@gtlaw.com
                  diconzam@gtlaw.com
                  haynesn@gtlaw.com

Trinet Group, Inc., and its subsidiaries are represented by:

          James E. Huggett, Esq.
          MARGOLIS EDELSTEIN
          300 Delaware Avenue, Suite 800
          Wilmington, DE 19801
          Telephone: (302)888-1112
          E-mail: jhugget@margolisedelstein.com

                - and -

          Amish R. Doshi, Esq.
          MAGNOZZI & KYE, LLP
          23 Green Street, Suite 302
          Huntington, NY 11743
          Telephone: (631)923-2858
          E-mail: adoshi@magnozzikye.com

                - and -

          Shawn M. Christianson, Esq.
          Valerie BanterPeo, Esq.
          BUCHALTER NEMER P.C.
          55 Second Street, Suite 1700
          San Francisco, CA 94105
          Telephone: (415)227-0900
          E-mail: schristianson@buchalter.com

                - and -

          Doug Riegelhuth, Esq.
          TRINET GROUP, INC.
          100 San Leandro Blvd., Suite 400
          San Leandro, CA 94577

                      About SFX Entertainment

SFX Entertainment, Inc., and 43 of its affiliates, a global
producer of live events and digital entertainment content focused
exclusively on the electronic music culture and other world-class
festivals, filed Chapter 11 bankruptcy petitions (Bankr. D. Del.
Case Nos. 16-10238 to 16-10281) on Feb. 1, 2016.  The petitions
were signed by Michael Katzenstein as chief restructuring
officer.

The Debtors disclosed total assets of $661.6 million and total
debts of $490.2 million.

Greenberg Traurig, LLP serves as the Debtors' counsel.   Kurtzman
Carson Consultants LLC acts as the Debtors' claims and noticing
agent.

Judge Mary F. Walrath is assigned to the case.


TECHPRECISION CORP: Unit Gets $3M Loan from People's Capital
------------------------------------------------------------
TechPrecision Corporation, through its wholly owned subsidiary
Ranor, Inc., executed and closed on April 26, 2016, a Master Loan
and Security Agreement No. 4180, as supplemented by Schedule No.
001, with People's Capital and Leasing Corp, as disclosed in a Form
8-K report filed with the Securities and Exchange Commission.  

The MLSA is dated and effective as of March 31, 2016.  Loan
proceeds were disbursed to Ranor on April 26, 2016.  Pursuant to
the MLSA, People's agreed to loan $3,011,648 to Ranor.  The
People's Loan is secured by a first lien on certain machinery and
equipment of Ranor.  Payments on the People's Loan will be made in
60 monthly installments of $60,921.07 each, inclusive of interest
at a fixed rate of 7.90% per annum.  The first monthly installment
payment will be due on May 26, 2016.  A prepayment penalty will
apply during the first four years of the loan term.  Ranor's
obligations under the MLSA are guaranteed by the Company.  The
Company covenants to maintain a debt service coverage ratio of at
least 1.5 to 1.0 during the term of the People's Loan.  The DSCR
will be measured at the end of each fiscal year of the Company.

      Amendment of Revere High Yield Fund, LP Facility

On April 26, 2016, the Company and Ranor executed and closed on a
Loan Documents Modification Agreement No. 3 with Revere High Yield
Fund, LP.  The Amendment, dated and effective as of March 31, 2016,
amends that certain Term Loan and Security Agreement dated Dec. 22,
2014, between Ranor and Revere pursuant to which Revere agreed to
loan an aggregate of $2,250,000 to Ranor.

The Amendment, among other things:

   (i) permits Ranor to pay off in its entirety the indebtedness
       owed under the Utica Loan with proceeds from the People's
       Loan;

  (ii) adds the People's security interest as a "Permitted Lien"
       under the TLSA;

(iii) deletes certain references to Utica Leaseco, LLC, the Utica

       Loan and loan documents related to the Utica Loan and
       replaces those references with new definitions relating to
       the People's Loan;

  (iv) adds the People's Loan and the Company's guaranty of the
       People's Loan as "Existing Indebtedness" under the TLSA;

   (v) requires Ranor, People's and Revere to enter into an
       Intercreditor and Subordination Agreement to, among other
       things, establish the relative priorities between Revere
       and People's with regard to certain assets of Ranor;

  (vi) requires Ranor to cause People's and Revere to enter into a
       Mortgagee's Disclaimer and Consent to, among other things,
       require that Revere permit People's access to certain real
       property owned by Ranor and mortgaged to Revere as
       collateral for the Revere Loan in the event that Ranor
       defaults on the People's Loan and Revere has taken
       possession of the real property; and

(vii) includes a reaffirmation of the Company's guarantee of
       Ranor's obligations under the TLSA.

                       About TechPrecision

TechPrecision Corporation (OTC BB: TPCSE), through its wholly owned
subsidiaries, Ranor, Inc., and Wuxi Critical Mechanical Components
Co., Ltd., globally manufactures large-scale, metal fabricated and
machined precision components and equipment.

TechPrecision reported a net loss of $3.58 million for the year
ended March 31, 2015, compared to a net loss of $7.09 million for
the year ended March 31, 2014.

Marcum LLP, in Bala Cynwyd, Pennsylvania, issued a "going concern"
qualification on the consolidated financial statements for the year
ended March 31, 2015, citing that the Company has suffered
recurring losses from operations, and the Company's liquidity may
not be sufficient to meet its debt service requirements as they
come due over the next twelve months.  These circumstances raise
substantial doubt about the Company's ability to continue as a
going concern.


TRI-G GROUP LLC: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Tri-G Group, LLC
           fdba Tri-G Development Group, LLC
           dba Quarry Hills Country Club
           dba Quarry Hills Golf And Country Club
           dba Quarry Hills CC
           dba Quarry Hills Golf Course
        9554 Snow Camp Road
        Snow Camp, NC 27349-9785

Case No.: 16-10441

Chapter 11 Petition Date: May 4, 2016

Court: United States Bankruptcy Court
       Middle District of North Carolina (Greensboro)

Judge: Hon. Benjamin A. Kahn

Debtor's Counsel: Charles M. Ivey, III, Esq.
                  IVEY, MCCLELLAN, GATTON, & SIEGMUND, LLP
                  Suite 500, 100 S. Elm St.
                  Greensboro, NC 27401
                  Tel: 336-274-4658
                  Fax: 336-274-4540
                  Email: jlh@imgt-law.com

                    - and -

                  Charles (Chuck) Marshall Ivey, IV, Esq.
                  IVEY, MCCLELLAN, GATTON & SIEGMUND, LLP
                  100 South Elm Street, Suite 500
                  Greensboro, NC 27401
                  Tel: 336-274-4658
                  Fax: 336-274-4540
                  Email: cmi4@iveymcclellan.com

Total Assets: $863,152

Total Liabilities: $1.44 million

The petition was signed by Guy G. Gulick, manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ncmb16-10441.pdf


TRI-G GROUP: Court Official Announces Plan to Form Committee
------------------------------------------------------------
William Miller, bankruptcy administrator, filed with the U.S.
Bankruptcy Court for the Middle District of North Carolina a notice
of formation of an official committee of unsecured creditors in the
Chapter 11 case of Tri-G Group, LLC (Case No. 16-10441).

Unsecured creditors willing to serve on the committee are required
to file a response within 10 days from May 4, 2016.  

An organizational meeting will be scheduled after the committee is
appointed, according to the filing.

Mr. Miller can be reached through:

     Susan O. Gattis
     Bankruptcy Analyst
     101 S. Edgeworth Street
     Greensboro, NC 27401
     Fax: 336-358-4185
     Email: susan_gattis@ncmba.uscourts.gov


TURNBERRY/MGM GRAND: Has Until Sept. 1 to Confirm Plan
------------------------------------------------------
At the behest of Turnberry/MGM Grand Towers, LLC; Turnberry/MGM
Grand Tower B, LLC; and Turnberry/MGM Grand Tower C, LLC,
Bankruptcy Judge August B. Landis in Nevada extended the Debtors'
exclusivity period set forth in 11 U.S.C. Sec. 1121(c)(3) to
confirm a Chapter 11 plan of reorganization up to and including
September 1, 2016.

The Debtors are represented by:

     GARMAN TURNER GORDON LLP
     GREGORY E. GARMAN, ESQ.,
     TALITHA GRAY KOZLOWSKI, ESQ.
     GABRIELLE A. HAMM, ESQ.
     650 White Drive, Suite 100
     Las Vegas, NV 89119
     Telephone (725) 777-3000
     Facsimile (725) 777-3112
     E-mail: ggarman@gtg.legal
             tgray@gtg.legal
             ghamm@gtg.legal

Based in Las Vegas, Nevada, Turnberry/MGM Grand Towers LLC and two
of its affiliates filed for bankruptcy protection under Chapter 11
on June 26, 2015 (Bankr. D. Nev. Lead Case No. 15-13706).  Judge
August B. Landis presides over the Debtors' cases.  Gregory E
Garman, Esq., at Garman Turner Gordon LLP, represents the Debtors
in their cases.  The Debtors estimated both assets and liabilities
between $1 million and $10 million.


VALEANT PHARMACEUTICALS: Moody's Confirms B2 CFR, Outlook Negative
------------------------------------------------------------------
Moody's Investors Service confirmed certain ratings of Valeant
Pharmaceuticals International, Inc. and subsidiaries, including the
Corporate Family Rating at B2, the senior secured bank credit
facilities at Ba2 (LGD 2), and the senior unsecured rating at B3
(LGD 5).  At the same time, Moody's upgraded the Probability of
Default Rating to B2-PD from Caa1-PD, and affirmed the Speculative
Grade Liquidity Rating at SGL-4.  This action concludes Moody's
rating review related to Valeant's late 10-K filing initiated on
Feb. 29, 2016.  Following these actions, the rating outlook is
negative.

Ratings confirmed:

Valeant Pharmaceuticals International, Inc.:

  Corporate Family Rating at B2
  Senior secured bank credit facilities at Ba2 (LGD 2)
  Senior unsecured notes at B3 (LGD 5)

Valeant Pharmaceuticals International:

  Senior unsecured notes at B3 (LGD 5)
  VRX Escrow Corp. (obligations assumed by Valeant Pharmaceuticals

   International, Inc.):
  Senior unsecured notes at B3 (LGD 5)

Ratings upgraded:

Valeant Pharmaceuticals International, Inc.:
  Probability of Default Rating to B2-PD from Caa1-PD

Rating affirmed

Valeant Pharmaceuticals International, Inc.:
  Speculative Grade Liquidity Rating at SGL-4

Rating outlooks:

  Valeant Pharmaceuticals International, Inc./ Valeant
   Pharmaceuticals International

The outlook is negative.

"The filing of Valeant's 10-K significantly reduces the potential
for debt acceleration, resulting in an upgrade of the Probability
of Default Rating to B2-PD from Caa1-PD," stated Michael Levesque,
Moody's Senior Vice President.  "However, significant challenges
related to stabilizing operations and generating sustainable
earnings growth without large acquisitions result in a negative
rating outlook," continued Levesque.

                         RATINGS RATIONALE

Valeant's B2 Corporate Family Rating reflects the company's high
financial leverage with gross debt/EBITDA of approximately 6 times
(pro forma for acquisitions in 2015), and significant business
challenges related to Valeant's pricing strategy and rapid growth
through acquisitions.  Valeant is confronting significant scrutiny
on its pricing practices, including those on products acquired
through acquisitions, and uncertainty related to government
investigations.  Recent changes at the CEO level and pending
changes at the board level create uncertainties regarding changes
in strategic direction, which could include material asset sales.

The ratings are supported by Valeant's good scale in the global
pharmaceutical industry with annual revenue above $10 billion, its
strong diversity, its high profit margins, and its good cash flow.
Valeant also has low exposure to patent cliffs, and good underlying
prescription volumes of products like Jublia (antifungal), and
Xifaxan for irritable bowel syndrome and hepatic encephalopathy.
In addition, the ratings are supported by management's commitment
to reduce debt/EBITDA, using excess cash flow for debt repayment.

The SGL-4 Speculative Grade Liquidity rating reflects the
likelihood of Valeant being non-compliant with financial reporting
covenants if the company is late in filing its Form 10-Q report for
the quarter ended March 31, 2016.  Moody's expects that Valeant
will be late in filing this report.  A late 10-Q filing exposes the
company to the risk of its bondholders filing notices of default,
although grace periods will apply.  Valeant will generate good cash
flow in excess of required interest and debt amortization payments.
However, there is somewhat tight cushion under financial
maintenance covenants and limited availability under the revolving
facility under the credit agreement.  Covenants include a maximum
senior secured leverage test of 2.5 times and a minimum interest
coverage ratio of 2.25 times through March 31, 2016, 2.75 times
from June 30, 2016, through March 31, 2017, and 3.0 times
thereafter.

The rating outlook is negative, reflecting the uncertainty that
underlying trends have stabilized and that the company will meet
its near-term debt repayment targets.  The negative outlook also
reflects the potential that certain scenarios of business
restructuring would be credit negative, if the sales of lucrative
business lines leave the company with weaker performing operations.
Factors that could lead to a downgrade include: significant
reductions in pricing or utilization trends, escalation of legal
issues or large litigation-related cash outflows, sustaining
debt/EBITDA above 6.0 times, or pursuing asset divestitures that
leave the company with high financial leverage and a weaker
business profile.  Conversely, factors that could lead to an
upgrade include: restoring credibility through solid performance
and underlying growth, reducing debt with free cash flow, making
progress at resolving legal proceedings, and sustaining debt/EBITDA
below 5.0 times.

The Ba2 (LGD 2) rating on the senior secured bank facilities
reflects their secured position in the capital structure and the
expectation that recovery would be very strong.  The B3 (LGD 5)
rating on the senior unsecured notes reflects their junior position
relative to secured lenders.  Following the 10-K filing and
significantly reduced likelihood of a near-term default, Moody's is
revising the family-wide Loss Given Default assumption to the
standard 50% assumption Moody's applies for most speculative grade
companies.

Headquartered in Laval, Quebec, Valeant Pharmaceuticals
International, Inc. is a global specialty pharmaceutical company
with expertise including branded dermatology, gastrointestinal
disorders, eye health, neurology, branded generics and OTC
products.  Valeant reported approximately $10.3 billion in total
revenue for the 12 months ended Dec. 31, 2015.

The principal methodology used in these ratings was that for the
Global Pharmaceutical Industry published in December 2012.



VESTIS RETAIL: Court Set to Hear Bid to Conduct Store Closing Sale
------------------------------------------------------------------
A U.S. bankruptcy court is set to hear a motion of Vestis Retail
Group LLC to conduct closing sales at stores run by the company.

The U.S. Bankruptcy Court for the District of Delaware will take up
the motion at a final hearing on May 16, 2016.

The court had earlier allowed the company to conduct closing sales
on an interim basis in accordance with the terms of its agreement
with Hilco Merchant Resources LLC and Gordon Brothers Retail
Partners LLC.

A copy of the interim order is available without charge at
http://is.gd/x01WDo

Creditors of Vestis have until May 9 to file their objections.

                      About Vestis Group

Headquartered in Meriden, Connecticut, Vestis Retail Group, LLC, et
al., operate 144 retail stores, which are located in 15 states.
Bob's Stores operates 36 stores throughout New England, New York,
and New Jersey.  Eastern Mountain Sports operates 61 stores,
located primarily in the Northeastern states.  Sport Chalet
operates 47 stores throughout California, Arizona, and Nevada.
Bob's Stores and EMS primarily operate stores located in the
Northeastern states, while Sport Chalet's stores, which are
currently being liquidated, are located in the Western states.

Prior to the Petition Date, each of the three Debtor retailers
operated an e-commerce site at, respectively, www.bobstores.com,
www.sportchalet.com, and www.ems.com.  In 2015, the Debtors
collectively generated 5% of their total sales, or approximately
$32 million, through e-commerce, according to Court documents.

Vestis Retail Group and eight of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 16-10971) on
April 18, 2016.  The Debtors estimated assets in the range of $0 to
$50,000 and debts of $100 million to $500 million.  The petitions
were signed by Thomas A. Kennedy as secretary.

The Debtors have hired Young, Conaway, Stargatt & Taylor, LLP as
their counsel, FTI Consulting, Inc. and Lincoln Partners Advisors
LLC as their financial advisor and Kurtzman Carson Consultants, LLC
as their claims and noticing agent.

Judge Laurie Selber Silverstein is assigned to the cases.


VISUALANT INC: Extends Notes Due Date to June 2016
--------------------------------------------------
Visualant, Inc., entered into amendments to two demand promissory
notes, totaling $600,000, and a note payable for $200,000 related
to the Umpqua Bank Business Loan Agreement with Mr. Erickson, the
Company's chief executive officer and/or entities in which Mr.
Erickson has a beneficial interest.  The amendments extend the due
date from March 31, 2016, to June 30, 2016, and continue to provide
for interest of 3% per annum and a second lien on company assets if
not repaid by June 30, 2016, or converted into convertible
debentures or equity on terms acceptable to the Holder, as
disclosed in a Form 8-K report filed with the Securities and
Exchange Commission.

                         About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on Oct. 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

Visualant reported a net loss of $2.63 million on $6.29 million of
revenue for the year ended Sept. 30, 2015, compared to a net loss
of $1.01 million on $7.98 million of revenue for the year ended
Sept. 30, 2014.

As of Dec. 31, 2015, the Company had $2.43 million in total assets,
$9.69 million in total liabilities, all current, and a total
stockholders' deficit of $7.25 million.

PMB Helin Donovan, LLP, in Seattle, Washington, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2015, citing that Company has sustained a
net loss from operations and has an accumulated deficit since
inception.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


VULCAN MATERIAL: Moody's Hikes Corporate Family Rating to Ba1
-------------------------------------------------------------
Moody's Investors Service upgraded the Corporate Family Rating of
Vulcan Materials Company to  Ba1 from Ba2, the Probability of
Default Rating to Ba1-PD from Ba2-PD and senior unsecured notes to
Ba1 from Ba2. The rating outlook is positive.

"The upgrade reflects continued improvement in Vulcan's financial
ratios resulting from debt reduction and improved operating
performance. The company's adjusted debt-to-EBITDA declined to 2.8x
for the year-end 2015 from 3.7x at year-end 2014 and 5.2x at
year-end 2013. Adjusted operating margins have also improved over
the same periods, increasing to 17.4% from 11.4% and 6.7%,
respectively. The positive outlook reflects Vulcan's improving
financial ratios and our expectations that the construction end
markets it serves will continue to improve through 2016 leading to
further improvement in key credit metrics."

The following ratings were upgraded:

Vulcan Materials Company

Corporate Family Rating, upgraded to Ba1 from Ba2

Probability of Default Rating, upgraded to Ba1-PD from Ba2-PD

Senior unsecured bank credit facility, upgraded to Ba1 (LGD4) from
Ba2 (LGD4)

Senior unsecured notes, upgraded to Ba1 (LGD4) from Ba2 (LGD4)

Senior unsecured shelf, upgraded to (P)Ba1 from (P)Ba2

Speculative Grade Liquidity Rating affirmed SGL-2

The rating outlook is positive.

Legacy Vulcan Corp.

Backed Senior unsecured notes, upgraded to Ba1 (LGD4) from Ba2
(LGD4)

Backed Senior unsecured MTN program, upgraded to (P)Ba1 from
(P)Ba2

The rating outlook is positive.

RATINGS RATIONALE

"The Ba1 corporate family rating is supported by the company's
leading position in the North American aggregates industry, its
regional geographic and end market diversity and large proven
reserves. Longer term, the business benefits from high barriers to
entry, a stable competitive landscape, and diverse end use markets.
Vulcan's focus on operational efficiencies and debt reduction over
the past years have led to significantly improved credit metrics.
As of December 31, 2015, adjusted debt-to-EBITDA declined to 2.8x
from 3.7x at year-end 2014 and 5.2x at year-end 2013. Adjusted
operating margin improved to 17.4% as of year-end 2015 from 10.7%
at year-end 2014 and 6.7% at year-end 2013. We expect further
improvements in operating margin and interest coverage as
construction activity and operating performance improve over the
intermediate-term. The rating also reflects margin and cash flow
volatility expected through economic cycles as well as expected
fluctuation in leverage."

"The SGL-2 speculative grade liquidity rating reflects Vulcan's
good liquidity profile, supported by its $750 million senior
unsecured credit facility due 2020, $284 million cash balance at
December 31, 2015 and no near-term debt maturities until 2018 when
approximately $525 million of debt matures. As of December 31,
2015, Vulcan's available borrowing capacity was $476 million net of
$235 million in borrowings and $39 million used to support standby
letters of credit. Financial covenants in the facility include: (1)
a maximum ratio of debt-to-EBITDA of 3.5x; and (2) a minimum ratio
of EBITDA to net cash interest expense of 3.0x. As of December 31,
2015, Vulcan was in compliance with these covenants with adequate
cushion. We believe Vulcan will maintain adequate cushion over the
next 12-18 months. The company's free cash flow generation is
expected to strengthen over the intermediate-term. Vulcan generated
$170 million of adjusted free cash flow in 2015. We expect the
company to use cash to invest in bolt-on acquisitions, pay
dividends, and/or repurchase shares."

Vulcan's ratings could be upgraded should the company's adjusted
operating margin remain over 15%, adjusted debt-to-EBITDA remain
below 3.0x, EBIT-to-interest expense increase above 4.0x, and
retained cash flow as a percentage of net debt exceed 25%, with the
expectation that all metrics are sustainable. Continued improvement
in operating performance, expanded margins and strong liquidity
would also support a ratings upgrade.

The rating outlook could return to stable should construction end
markets weaken, resulting in flat to negative growth in shipment
volumes.

The ratings would likely be downgraded in the event that Vulcan's
adjusted operating margins deteriorate below 11%, adjusted debt
leverage increases above 4.0x and adjusted EBIT-to-interest expense
coverage is below 3.0x over the intermediate-term. Additional
rating pressures could emerge if construction fundamentals were to
deteriorate materially.

Vulcan Materials Company [NYSE: VMC] is one of the largest
producers of construction aggregates in the U.S., and is also a
major producer of asphalt mix and ready-mixed concrete. Its primary
end markets include public roads, public infrastructure, private
non-residential, and private residential construction. Its
aggregates reserves stand at about 15.8 billion tons. For the year
ended December 31, 2015, Vulcan generated approximately $3.4
billion in revenue.



WARREN RESOURCES: Needs More Time to Complete Item III of 10-K
--------------------------------------------------------------
Warren Resources, Inc., filed a Form 12b-25 with the Securities and
Exchange Commission with respect to its annual report on Form 10-K
for the period ended Dec. 31, 2015.  The Company said it needs
additional time to complete the information called for by Item III
of Form 10-K, including the executive compensation information,
which the Company was not able to complete by April 29, 2016, due
to certain circumstances.

The Company has experienced significant turnover in management and
employees within the past six months.  The Company's management has
also focused substantial resources to restructuring efforts.
Management and the Company's Board of Directors are actively
working to compile the required disclosure; however, the foregoing
issues have caused the Company to be unable to compile all
information necessary to prepare and file a definitive proxy
statement or a Form 10-K/A within the prescribed period without
unreasonable effort or expense.

The Company is currently unable to predict when it will be in a
position to file an amendment to its Annual Report on Form 10-K to
include the required Part III Information as well as to file a
definitive proxy statement in connection with the 2016 annual
meeting.

                      About Warren Resources

Warren Resources Inc., is an independent energy company engaged in
the exploration, development and production of domestic onshore
crude oil and natural gas reserves.  It is primarily focused on
the development of its waterflood oil recovery properties in the
Wilmington field within the Los Angeles Basin of California, its
position in the Marcellus Shale gas in northeastern Pennsylvania
and its coalbed methane, or CBM, natural gas properties located in
Wyoming.

Warren Resources reported a net loss applicable to common
stockholders of $619.97 million in 2015 following net income
applicable to common stockholders of $24.02 million.

As of Dec. 31, 2015, Warren Resources had $234.46 million in total
assets, $558.02 million in total liabilities and a total
stockholders' deficit of $323.56 million.

Grant Thornton LLP, in Oklahoma City, Oklahoma, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company incurred a
net loss of approximately $620 million during the year ended Dec.
31, 2015, and as of that date, the Company's current liabilities
exceeded its current assets by approximately $465.1 million and its
total liabilities exceeded its total assets by approximately $323.6
million.  Also discussed in Note A, subsequent to Dec. 31, 2015,
the Company is in default on its unsecured senior notes, first lien
credit facility and second lien credit facility.  These conditions,
along with other matters as set forth in Note A, raise substantial
doubt about the Company's ability to continue as a going concern.

                            *     *     *

The Troubled Company Reporter on Feb. 3, 2016, reported that
Standard & Poor's Ratings Services lowered its corporate credit on
oil and gas exploration and production company Warren Resources
Inc. to 'D' from 'SD' (selective default).  The issue-level rating
on the company's unsecured debt remains 'D'.  The recovery rating
remains '6', indicating S&P's expectation of negligible (0%-10%)
recovery in the event of a payment default.


WENATCHEE WASHINGTON: Moody's Affirms Ba1 Rating on GO Bonds
------------------------------------------------------------
Moody's Investors Service has affirmed the Ba1 rating on the City
of Wenatchee Washington's Limited Tax General Obligation Bonds,
2007.  The rating action affects $2.5 million in debt outstanding.
Moody's has assigned a stable outlook to the bonds.

The rating continues to reflect substantially diminished financial
risks following the June 2012 default on a contingent loan
agreement (CLA) but still present risk of unwillingness to pay a
limited tax general obligation, as evidenced by the contingent loan
agreement default.  The rating also incorporates multi-year
improvement in the city's financial position featuring strong
reserves and robust liquidity, modestly sized tax base, low debt
burden and very management fixed cost and pension burden.

Rating Outlook

The stable outlook reflects our expectation that rating will be
maintained at the current level until the city demonstrates their
commitment to the prioritization of the city's limited tax general
obligation pledge and good financial management.

Factors that Could Lead to an Upgrade

  Demonstrated commitment to the prioritization of the city's
   limited tax general obligation pledge
  Sustained self-sufficiency of PFD

Factors that Could Lead to a Downgrade

  Deterioration of/increased subsidy of PFD or city enterprise
   activities
  Weakened liquidity and reserves
  Prolonged downturn in economy

Legal Security

The limited tax general obligation bonds are secured by the city's
full faith, credit, and resources and pledge to levy taxes annually
within the constitutional and statutory tax limitation provided by
law without a vote of the people.

Use of Proceeds
Not applicable.

Obligor Profile

The city encompasses 7 square miles in Chelan County which is
located in central Washington and serves a population of 33,261.
The city is situated at the confluence of the Columbia and
Wenatchee Rivers, approximately 138 miles east of Seattle and 165
miles west of Spokane.  The city is the largest city in Chelan
County, the Chelan County seat, and the major urban center for a
region that has traditionally depended on agriculture as an
economic mainstay.

Methodology

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



WILTON BRANDS: Moody's Affirms Caa1 CFR, Outlook Revised to Neg.
----------------------------------------------------------------
Moody's Investors Service affirmed Wilton Brands, LLC's Caa1
Corporate Family Rating and revised the rating outlook to negative
from stable. The negative outlook reflects recent demand weakness
across a wider range of Wilton's products. It also reflects
Wilton's weak liquidity profile with the revolving credit facility
expiring in August 2017 and a step up of term loan amortization to
$65 million in the fourth quarter of 2017 (currently at $10 million
per quarter) that the company will not be able to meet from
internally generated cash.

Moody's had expected a modest deterioration in Wilton's overall
revenue and earnings driven by the continued secular decline in
some of the company's products. However, recent quarterly declines
have been greater than Moody's expectations because of lower demand
across a wider range of products.

This broader weakness in demand for Wilton's products exacerbates
Moody's concerns about the company's ability to address upcoming
financing needs, even though it is generating positive cash flow.
The borrowing based revolving credit facility expires in August
2017 and term loan amortization steps up to $65 million per quarter
(currently at $10 million per quarter) beginning with the fourth
quarter of 2017, a level Moody's regards as unsustainable. Moody's
is concerned this could lead to a situation where lenders feel
pressured into extending the revolver or term loan under terms they
would normally find unsatisfactory given Wilton's credit profile.
If so, Moody's may consider the transaction to be a "distressed
exchange" and hence a default.

To address weak performance, Wilton brought in a new Chief
Executive Officer in January 2016, a new Executive Vice President
in April 2016 to run the Wilton Enterprises business segment, and a
new Chief Financial Officer in April 2016.

The following ratings were affirmed:

-- Corporate Family Rating at Caa1

-- Probability of Default Rating at Caa2-PD

-- Senior Secured Term Loan at Caa2 (LGD 3)

The rating outlook is negative.

RATINGS RATIONALE

Wilton's Caa1 Corporate Family Rating (CFR) reflects Moody's
expectation of a continued decline in revenues and earnings driven
by the secular decline in some products as consumers shift towards
digital media and other competing leisure-time activities as well
as recent lower demand across a wider range of products. It also
reflects the company's weak liquidity profile characterized by the
expiration of the revolving credit facility in August 2017 and
unsustainable term loan amortization payments commencing in the
fourth quarter of 2017. These negative credit factors overshadow
Wilton's strong brands and leading positions in certain product
categories.

The negative outlook reflects Moody's expectation of a continued
decline in Wilton's revenue and earnings. It also reflects a weak
liquidity profile.

Ratings could be downgraded if there is an increase in the
probability of any transaction which Moody's would consider a
distressed exchange, free cash flow significantly declines or turns
negative, or operating results worsen.

Ratings could be upgraded if revenue and earnings grow, liquidity
strengthens, and Wilton successfully refinances its revolver and
term loan.

Headquartered in Woodridge, Illinois, Wilton Brands LLC (Wilton) is
a leading supplier in the U.S. crafts industry. It sells a wide
range of products including those for baking, cake decorating,
other food crafting, specialty housewares, sewing patterns,
knitting, crocheting, sewing, fashion crafts, needlecraft, home
decorating, paper crafting and memory keeping. Revenue was $577
million for the twelve months ended March 31, 2016. TowerBrook
Capital Partners is the company's controlling equity sponsor.



ZAFS INVESTMENTS: Court Extends Plan Exclusivity to Aug. 1
----------------------------------------------------------
At the behest of Zafs Investments LLC, the U.S. Bankruptcy Court
for the Southern District of Texas extended the time within which
the Debtor has the exclusive right to file a Plan of Reorganization
and Disclosure Statement until August 1, 2016.

According to the Debtor's motion, Chief Judge David Jones conducted
a hearing on April 5, 2016, in which hearing he granted the motion
for relief from the automatic stay for Mr. Hardial Singh Mangat,
along with Wells Fargo Bank.  The court order was signed on April
14, 2016.  Chief Judge Jones allowed the two secured creditors to
post for a June 7, 2016, foreclosure, but required that a hearing
be conducted before Judge Karen K. Brown on June 6, 2016, at 10:00
a.m., so that Judge Brown could determine from the evidence
presented at that hearing whether the foreclosures should proceed.


The Debtor purchased a banquet facility (secured by a loan from
Wells Fargo) and 2.177 acres adjacent to the banquet facility, to
be used as a parking lot (secured by the loan from Mr. Hardial
Singh Mangat).  The Debtor tells the Court that it intends to show
that Mr. Mangat and his employees, at his direction, are
continuously interfering with the Debtor's ability to conduct its
business in a profitable manner, and that but for Mr. Mangat's
conduct, the Debtor would be more profitable.  The Debtor has over
$60,000 in signed contracts for use of the venue for 2016.  At this
time the Debtor is attempting to settle with Wells Fargo Bank.

The Debtor believes that it is prudent to extend its exclusivity
to
file a plan and disclosure statement until after the June 6, 2016,
hearing, and any additional hearings may occur regarding this
matter.

The Debtor notes that the United States Trustee does not oppose
this motion.  

Zafs Investments, LLC, based in Sugar Land, Texas, filed a Chapter
11 petition (Bankr. S.D. Tex. Case No. 15-36237) on November 30,
2015.  Hon. Karen K. Brown presides over the case.  The Debtor is
represented by:

                  Margaret Maxwell McClure, Esq.
                  LAW OFFICE OF MARGARET M. MCCLURE
                  909 Fannin, Suite 3810
                  Houston, TX 77010
                  Tel: 713-659-1333
                  Fax: 713-658-0334
                  Email: margaret@mmmcclurelaw.com

In its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities: $1 million to $10 million.  The
petition was signed by Farhan Sultan, managing member.

Hardial Singh Mangat is represented by:

     Joe S. Maida, Esq.
     Attorney at Law
     5100 Westheimer, Suite 115
     Houston, TX 77056-5507

Wells Fargo Bank, N.A. is represented by:

     Steven A. Leyh, Esq.
     Leyh, Payne & Mallia, PLLC
     9545 Katy Freeway, Suite 200
     Houston, TX 77024-1469   


ZONE CONSTRUCTION: Wants Plan Exclusivity Extended to Aug. 30
-------------------------------------------------------------
Zone Construction and Excavation, LLC asks the U.S. Bankruptcy
Court for the Northern District of West Virginia to extend its
exclusive plan filing period to Aug. 30, 2016.

The Debtor explains that it will be in a better position to file a
plan after the renegotiation of leases and loans for all of its
equipment and stock. That renegotiation, once completed for all
creditors, will greatly benefit the Debtor in determining what net
income may be available for distributions to creditors.

The Debtor contends that the proposed delay in filing a plan is not
significant and will information engendered from the renegotiated
leases and loans will greatly benefit the Debtor in filing a
confirmable plan.

Based in Morgantown, West Virginia, Zone Construction and
Excavation, LLC -- dba Zone Environmental, fdba Zone Gas Field
Services,  Zone Environmental Services -- filed a Chapter 11
petition (Bankr. N.D. W.Va. Case No. 16-00000) on January 1, 2016,
listing $500,000 to $1 million in assets and $1 million to $10
million in liabilities.  The petition was signed by Martin Elek,
managing member.

The Debtor is represented by:

     Todd Johnson, Esq.
     JOHNSON LAW, PLLC
     Post Office Box 519
     Morgantown, WV 26507-0519
     Tel: 304-292-7933
     Fax: 304-292-7931
     Email: todd@jlawpllc.com

          - and -

     John Wiley, Esq.
     J FREDERICK WILEY, PLLC
     PO Box 1381
     Morgantown, WV 26507
     Tel: (304) 906-7929
     Email: johnfwiley@aol.com


ZUCKER GOLDBERG: Committee Seeks Extension of Challenge Period
--------------------------------------------------------------
The Official Committee of Unsecured Creditors of Zucker, Goldberg &
Ackerman, LLC, filed its cross motion to extend the termination
date with respect to the Committee's deadline to challenge the
prepetition liens and claims of the prepetition lenders.

The Official Committee also expressed its opposition to JP Morgan
Chase Bank, N.A.'s motion for a protective order regarding
deposition of Michael A. Fondacaro.

Tseitlin & Glas, P.C., was approved by the Court as special counsel
to the Official Committee to handle, among other things, matters in
which McCarter & English, LLP, counsel for the Committee, was
conflicted.

T&G served a Rule 2004 Subpoena to Chase, seeking a deposition of a
representative of the bank, and requesting documents in connection
with the loans made by the bank to the Debtor.

The Official Committee contends that there are gaps in Chase's
production and that despite several requests, Chase has not been
able to produce the complete amendments to the Loan Documents.  It
further contends that the most glaring omission in the documents
produced is something that could explain the addition of the
receivables of 4S Technologies, LLC ("4S"), an affiliate of the
Debtor, to the borrowing base of the line of credit in the loan
made by Chase to the Debtor ("Chase Loan").

"In response to the Committee's explanation that the documents were
not as clear as believed, especially in connection with the
inclusion of the 4S receivables as part of the borrowing base,
Chase filed its motion for a protective order to prevent the
deposition of its representative... The bank records do not speak
for themselves. Perhaps the clearest indication of this is the gap
in the records explaining why the receivables from another company,
4S, became part of the borrowing base.  If 4S became a borrower,
then 4 S should be indebted to Chase for some amount, and
correspondingly, the debt owed by the Debtor should be reduced by
such amount.  The deposition of Chase's representative can shed
light into this.  By Chase's own admission, its representative was
managing the Loan when these changes to the Loan Documents were
made," the Official Committee contends.

The Committee seeks the extension of the Challenge Period
Termination Date, which expired on April 21, 2016, for an
additional 30 days from entry of the Order to schedule the
deposition of the Chase representative.  It avers that Chase's
motion has set back the Committee's investigation and has impeded
its conclusion within the time frames set forth by the Court.  The
Official Committee argues that there is good cause to extend the
Challenge Period termination Date.

The Official Committee of Unsecured Creditors is represented by:

          Eduardo J. Glas, Esq.
          TSEITLIN & GLAS, P.C.
          345 Seventh Avenue, 21st Floor
          New York, NY 10001
          Telephone: (212) 944-7434
          Facsimile: (212) 202-5286

                About Zucker, Goldberg & Ackerman

Formed in 1923 as Zucker & Goldberg, the law firm Zucker, Goldberg
& Ackerman, LLC, was primarily engaged in the representation of
lenders and secured parties in foreclosure matters, insolvency
proceedings and related matters.  The sole members of ZGA are
Michael S. Ackerman, Esq. and Joel Ackerman, Esq. Michael S.
Ackerman is the managing member of the firm.  ZGA's primary
offices are in Mountainside, New Jersey.

Zucker, Goldberg & Ackerman, LLC, sought Chapter 11 protection
(Bankr. D.N.J. Case No. 15-24585) in Newark, New Jersey, on
Aug. 3, 2015, to complete the orderly liquidation of the business.

The case is assigned to Judge Christine M. Gravelle.

The Debtor disclosed total assets of $11.5 million and total
liabilities of $53.3 million as of June 30, 2015.

ZGA tapped Wasserman, Jurista & Stolz, P.C. as bankruptcy counsel;
Brown, Moskowitz & Kallen, P.C., as special litigation counsel;
Genova Burns as labor counsel; and BMC Group, Inc., as noticing
and balloting agent.

On Aug. 17, 2015, an Official Committee of Unsecured Creditors was
appointed by the Office of the United States Trustee.  The
Committee on Oct. 15, 2015, won approval to retain McCarter &
English, LLP ("McCarter") to serve as Committee counsel, effective
as Aug. 14, 2015.

                         *      *     *

The Debtor in December 2015 filed a "Plan of Orderly Liquidation"
which provides for the wind down of the firm's business.  The Plan
was put on hold pending the issuance of a report by the examiner.

The Court on Feb. 8, 2016, entered an order approving the Acting
U.S. Trustee's appointment of former bankruptcy judge Donald H.
Steckroth, Esq., as examiner.  The Creditors Committee sought an
examiner to investigate possible claims against current and former
members of the bankrupt foreclosure law firm and related
"insiders".


[^] BOOK REVIEW: Risk, Uncertainty and Profit
---------------------------------------------
Author:  Frank H. Knight
Publisher:  Beard Books
Softcover:  381 pages
List Price:  $34.95
Review by Gail Owens Hoelscher

Order your personal copy today at
http://www.beardbooks.com/beardbooks/risk_uncertainty_and_profit.html

The tenets Frank H. Knight sets out in this, his first book,
have become an integral part of modern economic theory. Still
readable today, it was included as a classic in the 1998 Forbes
reading list. The book grew out of Knight's 1917 Cornell
University doctoral thesis, which took second prize in an essay
contest that year sponsored by Hart, Schaffner and Marx. In it,
he examined the relationship between knowledge on the part of
entrepreneurs and changes in the economy. He, quite famously,
distinguished between two types of change, risk and uncertainty,
defining risk as randomness with knowable probabilities and
uncertainty as randomness with unknowable probabilities. Risk,
he said, arises from repeated changes for which probabilities
can be calculated and insured against, such as the risk of fire.
Uncertainty arises from unpredictable changes in an economy,
such as resources, preferences, and knowledge, changes that
cannot be insured against. Uncertainty, he said "is one of the
fundamental facts of life."

One of the larger issues of Knight's time was how the
entrepreneur, the central figure in a free enterprise system,
earns profits in the face of competition. It was thought that
competition would reduce profits to zero across a sector because
any profits would attract more entrepreneurs into the sector and
increase supply, which would drive prices down, resulting in
competitive equilibrium and zero profit.

Knight argued that uncertainty itself may allow some
entrepreneurs to earn profits despite this equilibrium.
Entrepreneurs, he said, are forced to guess at their expected
total receipts. They cannot foresee the number of products they
will sell because of the unpredictability of consumer
preferences. Still, they must purchase product inputs, so they
base these purchases on the number of products they guess they
will sell. Finally, they have to guess the price at which their
products will sell. These factors are all uncertain and
impossible to know. Profits are earned when uncertainty yields
higher total receipts than forecasted total receipts. Thus,
Knight postulated, profits are merely due to luck. Such
entrepreneurs who "get lucky" will try to reproduce their
success, but will be unable to because their luck will
eventually turn.

At the time, some theorists were saying that when this luck runs
out, entrepreneurs will then rely on and substitute improved
decision making and management for their original
entrepreneurship, and the profits will return. Knight saw
entrepreneurs as poor managers, however, who will in time fail
against new and lucky entrepreneurs. He concluded that economic
change is a result of this constant interplay between new
entrepreneurial action and existing businesses hedging against
uncertainty by improving their internal organization.

Frank H. Knight has been called "among the most broad-ranging
and influential economists of the twentieth century" and "one of
the most eclectic economists and perhaps the deepest thinker and
scholar American economics has produced." He stands among the
giants of American economists that include Schumpeter and Viner.
His students included Nobel Laureates Milton Friedman, George
Stigler and James Buchanan, as well as Paul Samuelson. At the
University of Chicago, Knight specialized in the history of
economic thought. He revolutionized the economics department
there, becoming one the leaders of what has become known as the
Chicago School of Economics. Under his tutelage and guidance,
the University of Chicago became the bulwark against the more
interventionist and anti-market approaches followed elsewhere in
American economic thought. He died in 1972.


                            *********

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
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The TCR subscription rate is $975 for 6 months delivered via
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are $25 each.  For subscription information, contact Peter A.
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