TCR_Public/160507.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Saturday, May 7, 2016, Vol. 20, No. 128

                            Headlines

ALPHA NATURAL: Net Loss Widens to $57.19 Million in March
AXION INTERNATIONAL: Files Monthly Operating Report for March
HORSEHEAD HOLDING: Lists $11.45 Million Net Loss in March
LIFE PARTNERS: Suffers $66,906 Net Loss in March
NUO THERAPEUTICS: Lists $1.94 Million Net Loss in March

QUICKSILVER RESOURCES: Net Loss Balloons to $416.13MM in March

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ALPHA NATURAL: Net Loss Widens to $57.19 Million in March
---------------------------------------------------------
Alpha Natural Resources, Inc., et al., filed with the U.S.
Securities and Exchange Commission their monthly operating report
for March 2016.

The Debtors suffered a net loss of $57.19 million on
$161.64 million of total revenues in March, an increase from $47.40
million net loss
reported for February.

As of March 31, 2016, the Debtors had $4.57 billion in total
assets, $7.47 billion in total liabilities, and $2.90 billion in
total stockholders' deficit.

The Debtors started the month with $627.04 million cash.  They
listed $4.40 million used in operating activities, $25.07 million
used in investing activities, and $.786 million used in financing
activities.  They ended the month with $655.73 million.

A copy of the monthly operating report is available at the SEC at:

                      http://is.gd/LPapof

                 About Alpha Natural Resources

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

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

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

Judge Kevin R. Huennekens presides over the cases.

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

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

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

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

                            *     *     *

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



AXION INTERNATIONAL: Files Monthly Operating Report for March
-------------------------------------------------------------
Axion International Holdings, Inc., filed with the U.S. Securities
and Exchange Commission its monthly operating report for March
2016, a copy of which is available at http://is.gd/7nIGFX

The Debtor showed no activity during the reporting period.

               About Axion International

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

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

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

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

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

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

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

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



HORSEHEAD HOLDING: Lists $11.45 Million Net Loss in March
---------------------------------------------------------
Horsehead Holding Corp. and its subsidiaries filed with the U.S.
Securities and Exchange Commission their monthly operating report
for March 2016.

The Debtors incurred a consolidated net loss of $11.45 million on
$27.13 million net sales for the month.

The Debtors' consolidated balance sheet showed $969.52 million in
total assets, $79.20 million in total current liabilities, $249.41
million in liabilities subject to compromise - secured debt, $2.24
million in liabilities subject to compromise - priority debt,
$229.65 million in liabilities subject to compromise - unsecured
debt (AP & AL), and $393.56 million in total shareholders' equity
as of March 31, 2016.

The Debtors started the month with $23.89 million cash.  They
listed $29.57 million in total receipts and $29.84 million in total
disbursements.  Disbursements include $610,698 in professional
fees.  At month end, the Debtors had $23.63 million cash.

A copy of the monthly operating report is available at the SEC at:

                    http://is.gd/ygzGn7

               About Horsehead Holding Corp.

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

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

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

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


LIFE PARTNERS: Suffers $66,906 Net Loss in March
------------------------------------------------
Life Partners Holdings, Inc., filed with the U.S. Securities and
Exchange Commission their monthly operating report for March
2016.

The Debtor reported a net loss of $66,906 on zero revenue for the
period.

As of March 31, 2016, the Debtor had $547,881 in total
assets, $4.42 million in total liabilities, and -$3.87 million in
total stockholders' equity.

The Debtor had $204,170 cash at the start of the month.  It
reported total disbursements of $39,510 and zero receipts.  Thus,
the Debtor had $164,660 ending cash balance at March 31, 2016.

A copy of the monthly operating report is available at the SEC at:

               http://is.gd/J1z2th    

                About Life Partners

Headquartered in Waco, Texas, Life Partners Holdings, Inc. --
http://www.lphi.com/-- is the parent company engaged in the  
secondary market for life insurance, commonly called "life
settlements."  Since its incorporation in 1991, Life Partners, Inc.
has completed over 162,000 transactions for its worldwide client
base of over 30,000 high net worth individuals and institutions in
connection with the purchase of over 6,500 policies totaling over
$3.2 billion in face value.

LPHI is a publicly traded company incorporated in Texas and its
common stock has been delisted from the NASDAQ (formerly trading
under the symbol LPHI).

Life Partners Holdings sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D. Tex. Case No. 15-40289) on Jan. 20,
2015.

The case is assigned to Judge Russell F. Nelms.  J. Robert
Forshey, Esq., at Forshey & Prostok, LLP, serves as counsel to the
Debtor.

LPHI disclosed $2,406,137 in assets and $52,722,308 in liabilities
as of the Chapter 11 filing.

The official committee of unsecured creditors formed in the case
tapped Munsch Hardt Kopf & Harr, P.C., as counsel.

Tracy A. Bolt of BDO USA, LLP was named as examiner for the
Debtor's case.  At the behest of the U.S. Securities and Exchange
Commission, the U.S. Trustee, and the Creditors Committee, the
Court ordered the appointment of a Chapter 11 trustee.  On March
13, 2015, H. Thomas Moran II was appointed as Chapter 11 trustee
in LPHI's case.  The trustee is represented by Thompson & Knight
LLP.

The Chapter 11 trustee signed Chapter 11 bankruptcy petitions for
LPHI's subsidiaries on May 19, 2015: Life Partners Inc. (Case No.
15-41995) and LPI Financial Services, Inc. (Case No. 15-41996).

Life Partners is estimated to have $100 million to $500 million in
assets and more than $1 billion in debt.  LPI Financial estimated
less than $50,000.


NUO THERAPEUTICS: Lists $1.94 Million Net Loss in March
-------------------------------------------------------
Nuo Therapeutics, Inc., filed with the U.S. Securities and Exchange
Commission its monthly operating report for March 2016.

The Debtor incurred a net loss of $1.94 million on $161,833 total
revenue for the month.

As of March 31, 2016, the Debtor had $56.29 million in total
assets, $6.07 million in total liabilities not subject to
compromise, $11.55 million in total liabilities subject to
compromise, and $38.67 million in total shareholders' equity.

The Debtor started the month with $710,054 cash.  They listed $1.13
million in total receipts and $1.11 million in total disbursements.
At the end of the month, the Debtor had $733,779 cash.

A copy of the monthly operating report is available at the SEC at:

                    http://is.gd/cHiDEq

                  About NUO Therapeutics

Nuo Therapeutics, Inc. filed a Chapter 11 bankruptcy petition
(Bankr. D. Del. Case No. 16-10192) on Jan. 26, 2016.  The petition
was signed by David E. Jorden as acting chief executive officer and
acting chief financial officer.

Ashby & Geddes, P.A. represents the Debtor as counsel and Epiq
Bankruptcy Solutions, LLC serves as the Debtor's claims, balloting
and noticing agent.  Hon. Mary F. Walrath has been assigned the
case.

The U.S. Trustee for Region 2 originally appointed three members
to the Official Committee of Unsecured Creditors.  The U.S.
Trustee, on March 14, 2016, said New Hampshire Ball Bearings, Inc.,
has resigned from the Committee.  The remaining committee members
are AAPC and CPA Global Limited.

The Bankruptcy Court has entered an Order granting conditional
approval to the Debtor's Disclosure Statement for the First
Amended Plan of Reorganization.  The Court also approved an
expedited pathway to the Company's emergence from Chapter 11 by
scheduling a combined hearing on April 25, 2016 to consider the
adequacy of the Disclosure Statement and confirmation of the
Company's proposed First Amended Plan of Reorganization.


QUICKSILVER RESOURCES: Net Loss Balloons to $416.13MM in March
--------------------------------------------------------------
Quicksilver Resources Inc., et al., on April 22, 2016, filed with
the U.S. Securities and Exchange Commission their monthly operating
report for March 2016.

The Debtors posted a consolidated net loss of $416.13 million on
$10.82 million in total revenues for March, a huge increase from
$7.59 million net loss recorded for February.

The Debtors posted $345.21 million in total assets, $2.08 billion
in total liabilities, and -$1.73 billion in total shareholders'
equity as of March 31, 2016.

The Debtors started the month with $145.96 million cash.  They
listed $14.89 million in total receipts and $28.33 million in total
disbursements.  Disbursements include $3.51 million in professional
fees and expenses.  At month end, the Debtors had $132.52 million
cash.

A copy of the monthly operating report is available at the SEC at:

            http://is.gd/WrfCcu

          About Quicksilver Resources

Quicksilver Resources Inc. (OTCQB: KWKA) is an exploration and
production company engaged in the development and production of
long-lived natural gas and oil properties onshore North America.
Based in Fort Worth, Texas, the company claims to be a leader in
the development and production from unconventional reservoirs
including shale gas, and coal bed methane.  Following more than 30
years of operating as a private company, Quicksilver became public
in 1999.

The Company has U.S. offices in Fort Worth, Texas; Glen Rose,
Texas; Steamboat Springs, Colorado; Craig, Colorado and Cut Bank,
Montana.  The Company's Canadian subsidiary, Quicksilver Resources
Canada Inc. is headquartered in Calgary, Alberta.

On March 17, 2015, Quicksilver Resources Inc. and certain of its
affiliates filed voluntary petitions for relief under Chapter 11
of the Bankruptcy Code in Delaware.  Quicksilver's Canadian
subsidiaries were not included in the chapter 11 filing.

The Company's legal advisors are Akin Gump Strauss Hauer & Feld
LLP in the U.S. and Bennett Jones in Canada.  Richards Layton &
Finger, P.A., is legal co-counsel in the Chapter 11 cases.
Houlihan Lokey Capital, Inc., is serving as financial advisor.
Garden City Group Inc. is the claims and noticing agent.

The Company's balance sheet at Dec. 31, 2014, showed $1.21 billion
in total assets, $2.35 billion in total liabilities and a
stockholders' deficit of $1.14 billion.

The U.S. Trustee for Region 3 appointed five creditors of
Quicksilver Resources Inc. to serve on the official committee of
unsecured creditors.

                           *     *     *

The Debtors won approval to sell substantially all assets to
BlueStone Natural Resources II, LLC.  BlueStone offered $240
million to acquire Quicksilver's oil and gas assets located in the
Barnett Shale in the Fort Worth basin of North Texas, and $5
million for those assets located in the Delaware basin in West
Texas.



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then-ending.

                            *********

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