TCR_Public/160509.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Monday, May 9, 2016, Vol. 20, No. 130

                            Headlines

22ND CENTURY: Stockholders Elect 2 Directors to Board
3S INTERNATIONAL: Court Allows Gina Yob's $42K Administrative Claim
A C MOBILE: U.S. Trustee Unable to Appoint Committee
ABEINSA HOLDING: EthosEnergy Wants Relief From Automatic Stay
ABEINSA HOLDING: Siemens Industry Wants Automatic Stay Relief

AEMETIS INC: Signs Merger Agreement with EdenIQ
AEP MFG: Ernst & Young Named as CCAA Monitor
AF-SOUTHEAST LLC: Court Grants $1.2-Mil. Interim Financing
AKAI HOLDINGS: HK Judge Freezes Up to $1.2BB of Ex Owner's Assets
ALLIED SECURITY: Universal Service Deal No Impact on Moody's B3 CFR

ALLY FINANCIAL: Posts $250 Million Net Income for First Quarter
ALLY FINANCIAL: Stockholders Elect 11 Directors
ALPHA NATURAL: Rice Provides Update on Asset Purchase Agreement
AMERICAN BOYCHOIR: Court Rejects Bid to Extend Plan Exclusivity
AMERICAN COMMERCE: Appoints Two Directors to Board

AMERICAN EAGLE: Unsecured Creditors Want Case Converted to Ch. 7
AMERICAN HOSPICE: Seeks Approval of Incentive Plan for Key Employee
AMERICAN RESIDENTIAL: S&P Raises CCR to 'B+', Outlook Stable
ANTERO ENERGY: Ch. 11 Trustee Can Access Cash to Pay AIX JIBs
ARCH COAL: Additional Info on D&Os, Corp. Governance Filed

ARIA ENERGY: Moody's Affirms B1 Rating, Alters Outlook to Negative
ASARCO LLC: Court Affirms Dismissal of Claims vs Atlantic Richfield
ASSIST-MED INC: U.S. Trustee Unable to Appoint Committee
ATLANTIC CITY, NJ: S&P Cuts GO Debt Rating to CC, Outlook Negative
ATP OIL: Court Grants Bennu's Bid for Partial Summary Judgment

ATP OIL: Supreme Not Entitled to Lien and Privilege Under LOWLA
BB&N LLC: U.S. Trustee Unable to Appoint Committee
BG MEDICINE: Suspending Filing of Reports with SEC
BH SUTTON: Court OKs Joint Administration of Chapter 11 Cases
BILL BARRETT: Incurs $46.5 Million Net Loss in First Quarter

BIND THERAPEUTICS: Announces Research Collaboration with Affilogic
BONANZA CREEK: Incurs $47.2 Million Net Loss in First Quarter
BOZEL S.A.: Court Dismisses Suit vs. Michel Marengere
BUCKINGHAM SECURITIES: Clients Have Until June 30 to File Claims
BUDD COMPANY: Future Asbestos Claimants Representative Not Needed

BUILDERS FIRSTSOURCE: Reports First Quarter 2016 Results
CAESARS ENTERTAINMENT: Chief Commercial Officer Resigns
CAESARS ENTERTAINMENT: Reports $308M Net Loss for First Quarter
CAPITOL LAKES: Court Values Banks’ Claims at $36-Mil.
CHC GROUP: Files Chapter 11 Petition to Facilitate Restructuring

CHC GROUP: Moody's Cuts PDR to 'D-PD' to Bankruptcy Filing
CHICAGOLAND'S MEDICAL: Case Summary & 20 Top Unsecured Creditors
CLAIRE'S STORES: Beatrice Lafon Quits as CEO
CLAIRE'S STORES: Inks Exchange Pacts with Apollo Funds
CLAYTON B. OBERSHEIMER: Case Summary & 5 Unsecured Creditors

COLUMBIA HOSPITALITY: Can Use Cash Until Plan Confirmation
COMSTOCK MINING: Incurs $4.05 Million Net Loss in First Quarter
CORPORATE RESOURCE: Seeks Approval of Flex Stipulation
CROWN MEDIA: Deregisters Unsold Securities Under Plan
CROWN MEDIA: Posts $31.2 Million Net Income for First Quarter

CRYSTAL CATHEDRAL: Court Amends Ruling on R. Schuller Fees
CUMULUS MEDIA: Incurs $14.4 Million Net Loss in First Quarter
DENBURY RESOURCES: S&P Lowers CCR to 'CC', Outlook Negative
DORAL FINANCIAL: Court Approves Fannie Mae Settlement
DRAFTDAY FANTASY: Signs $500,000 Loan Agreement with Sillerman

DYNCORP INT'L: S&P Puts 'CCC' CCR on CreditWatch Positive
ELAINA VANDERS JOHNSON: Court Dismisses Ch. 11 Case
ELBIT IMAGING: Announces Notes Buyback
ELUMWOOD ASSOCIATES: U.S. Trustee Unable to Appoint Committee
EMERALD OIL: 341 Meeting of Creditors Set for May 11

EMERALD OIL: Gets Approval to Hire Intrepid as Financial Advisor
EMERALD OIL: Gets Final Approval to Obtain $20-Mil. Loan
EMMAUS LIFE: Appoints Steve Lee Interim CFO
EMPYREAN TOWERS: Ed King Resigns From Creditors' Committee
ENCORE PROPERTIES: General Claims Bar Date Set for October 11

EXGEN TEXAS: S&P Revises Outlook to Neg. & Affirms 'B+' Rating
FANNIE MAE: Posts $1.13 Billion Net Income for First Quarter
FIRSTLIGHT HYDRO: S&P Affirms 'B' ICR, Off CreditWatch
FREEDOM COMMUNICATIONS: OC Media Sues Over $2.1MM Sale Proceeds
GAS-MART USA: Committee Supplements Freeborn & Peters Employment

GASTAR EXPLORATION: Incurs $73.5 Million Net Loss in 1st Quarter
GATEWAY ENTERTAINMENT: Hires Richard Tarantine as Counsel
GELTECH SOLUTIONS: Names Victor Trotter as Director
GENESYS RESEARCH: Hahnfeldt Seeks Production of  "Counterclaim"
GENON ENERGY: Posts $101 Million Net Income for First Quarter

GLACIAL MATERIALS: Case Summary & 14 Unsecured Creditors
GLENCORP INC: Case Summary & 9 Unsecured Creditors
GLENN RICHARD UNDERWOOD: Court Finds $65K Price for Lot Fair
GLYECO INC: Amends Employment Agreement with CEO
GNC HOLDINGS: S&P Affirms 'BB+' CCR & Revises Outlook to Neg.

GOD'S ANGELS: Court Extends Plan Exclusivity to June 20
GOLDSTAR SOLUTIONS: U.S. Trustee Unable to Appoint Committee
GOODRICH PETROLEUM: Can Access Cash Collateral to Pay Indebtedness
GRAFTECH INT’L: Moody's Cuts Corporate Family Rating to Caa1
GREAT BASIN: Note Holders OK Release of $1 Million Funds

GREYSTONE LOGISTICS: Reports $5.28 Million Sales for Third Quarter
GUIDED THERAPEUTICS: Inks Exchange Agreements with Stockholders
HALSEY ST. MANAGEMENT: Case Summary & 4 Unsecured Creditors
HANESBRANDS INC: S&P Affirms 'BB' CCR & Alters Outlook to Negative
HCSB FINANCIAL: Announces Follow-On Offering of 23.4M Shares

HCSB FINANCIAL: Two Directors Resign from Board
HUFFMAN CONSTRUCTION: Court Lifts Automatic Stay for W. Claybar
ICAGEN INC: Presented at Taglich Brothers Annual Conference
ILLINOIS POWER: Dynegy Reports First Quarter Results
IMS HEALTH: S&P Puts 'BB-' CCR on CreditWatch Positive

INTERNATIONAL MANUFACTURING: Judge Ralph R. Mabey Named Mediator
INVENTIV HEALTH: To Hold Q1 Conference Call on May 16
ISTAR INC: Incurs $21.2 Million Net Loss in First Quarter
JADECO CONSTRUCTION: U.S. Trustee Unable to Appoint Committee
JOHN R REED INC: Case Summary & 20 Largest Unsecured Creditors

JUNIPER GTL: Can Obtain $1.2MM interim Financing from Westlake
KAISA GROUP: Chapter 15 Case Summary
KEMET CORP: NEC Tokin Reaches Settlement in Class Action Suits
KEMET CORP: Reports Preliminary Q4 and Fiscal 2016 Results
LEGACY RESERVES: Moody's Affirms Caa3 Corp. Family Rating

LIGHTSTREAM RESOURCES: S&P Lowers CCR to 'CCC-', Outlook Negative
LOCAL CORP: Gets Approval to Amend Winthrop Fee Structure
LOCATIONS IX: Case Summary & 4 Unsecured Creditors
LOCATIONS VII: Case Summary & 4 Unsecured Creditors
LOS ARBOLES APARTMENTS: Court Agrees to Hear Bid to Reopen Case

MAXIM CRANE: S&P Puts 'B' CCR on CreditWatch Negative
MCS GROUP: S&P Affirms 'B' CCR & Revises Outlook to Stable
MEDICAL INVESTORS: Case Summary & 9 Unsecured Creditors
MGM RESORTS: Reports First Quarter Financial Results
MICHAEL KING: U.S. Trustee Asks Court to Dismiss Ch. 11 Case

MILLWEAVE LLC: Pa. Court Extends Plan Filing Exclusivity to May 7
MISSISSIPPI PHOSPHATES: Court Orders Chapter 11 Plan Filing
MOBILE MINI: S&P Assigns 'BB-' Rating on Proposed $250MM Notes
MODERN SHOE: Appoints Bruce Erickson as CRO
MODERN SHOE: Employs Foley Hoag as Bankruptcy Counsel

MODERN SHOE: Hires Verdolino & Lowey as Accountant
MONAKER GROUP: Monaco Exercises Warrants for $300,000
NAVIENT CORP: Moody's Affirms Ba3 Sr. Unsecured Debt Rating
NEPHROS INC: To Launch EndoPurTM Ultrafilters Later This Year
NET ELEMENT: Signs Master Exchange Agreement with Crede CG

NEW YORK CRANE: Asks Court to Extend Plan Exclusivity to Nov. 1
NEWBURY COMMON: Lists $4.5MM in Assets, $7.3MM in Debts
NEWLEAD HOLDINGS: Needs More Time to File Annual Report
NEXEO SOLUTIONS: S&P Affirms 'B' CCR & Revises Outlook to Positive
NORANDA ALUMINUM: Info on Executive Compensation Disclosed

NUVERRA ENVIRONMENTAL: Moody's Alters PDR to 'Ca-PD/LD'
NUVERRA ENVIRONMENTAL: S&P Affirms Then Withdraws 'SD' CCR
ONEX TSG: Moody's Extends B1 Rating to New $130MM 1st Lien Loan
PALADIN ENERGY: Seeks Authority to Use Cash Collateral
PALMAZ SCIENTIFIC: Can Access $150K Financing

PEABODY ENERGY: Add'l Info on D&Os, Corp. Governance Filed
PEABODY ENERGY: May 17 Final Hearing on Bid to Limit Equity Trades
PENTON BUSINESS: S&P Raises CCR to 'B+' on Reduced Leverage
PIONEER HEALTH: Can Access Cash Collateral Through May 22
PIONEER HEALTH: Lender Seeks Adequate Protection

POPEXPERT INC: U.S. Trustee Forms 3-Member Committee
PORTER BANCORP: Posts $1.48 Million Net Income for First Quarter
POSITIVEID CORP: Closes $437,500 Securities Purchase Agreement
QUEST SOLUTION: Appoints Joey Trombino as Chief Financial Officer
QUICK CHANGE ARTIST: Court Extends Plan Exclusivity to June 21

RAILYARD COMPANY: Judge Delays Approval of WFD&A's Bid to Withdraw
REALOGY HOLDINGS: Incurs $42 Million Net Loss in First Quarter
REALOGY HOLDINGS: Stockholders Elect 6 Directors
RELATIVITY FASHION: Admin. Claims Bar Date Set for May 29
ROVI CORP: S&P Puts 'B+' CCR on Watch Pos. on Pending TiVo Deal

SANTA CRUZ BERRY: Admin Claimants Oppose Settlement with Creditors
SANTA CRUZ BERRY: Court Approves Settlement with Creditors
SAUCIER BROS.: Case Summary & 20 Largest Unsecured Creditors
SCIENTIFIC GAMES: Reports 2016 First Quarter Results
SEQUENOM INC: Incurs $13.4 Million Net Loss in First Quarter

SHEEHAN PIPE LINE: U.S. Trustee Forms 4-Member Committee
SKAGIT RIVER: U.S. Trustee Unable to Appoint Committee
SOUTHCROSS ENERGY: Issues 8 Million Common Units to Holdings
SPENDSMART NETWORKS: Appoints PayPal Executive as Director
SPORTS AUTHORITY: Seeks Approval of Key Employee Retention Plan

STANFORD INT'L: July 8 Hearing to Approve $24M Kroll Deal
STAR COMPUTER: Wants Court to Set Administrative Claims Bar Date
STONE ENERGY: Incurs $189 Million Net Loss in First Quarter
STONE ENERGY: Posts $189M Net Loss in First Quarter 2016
STRATA SKIN: Gets Noncompliance Notice from NASDAQ

SUTTON 58 OWNER: Schedules $181M in Assets, $142M in Debt
TELEPRO CARIBE: Case Summary & 13 Unsecured Creditors
TELKONET INC: Reports $120,000 Net Income for First Quarter
THAD DEVIER HOLDING: Court Orders Alawamleh to Pay $4.2K Balance
THERAPEUTICSMD INC: Announces First Quarter 2016 Financial Results

THERAPEUTICSMD INC: Incurs $20.9 Million Net Loss in Q1
TMOV INC: U.S. Trustee Forms 3-Member Committee
TOWN SPORTS: Files Form S-8 Prospectus with SEC
TOWN SPORTS: Incurs $6.92 Million Net Loss in First Quarter
TRIANGLE PETROLEUM: Wells Fargo Cuts Borrowing Base to $225M

TRINITY RIVER: 341 Meeting of Creditors Set for May 31
TRINITY RIVER: Court Permits Interim Use of Cash Collateral
TRINITY TEMPLE: Case Summary & 20 Largest Unsecured Creditors
ULTRA PETROLEUM: Common Stock Trading Suspended on NYSE
ULTRA PETROLEUM: U.S. Trustee Forms 7-Member Committee

UNI-PIXEL INC: Incurs $8.41 Million Net Loss in First Quarter
UNIVERSAL ACADEMY: S&P Lowers 2014 Bonds to 'B+'
USA DISCOUNTERS: Committee Wants Cash Collateral Order Modified
UTSTARCOM HOLDINGS: Gu Guoping, et al., Own 31.7% Ordinary Shares
VALEANT PHARMACEUTICALS: S&P Revises Watch on 'B' CCR to Positive

VEREIT INC: S&P Revises Outlook to Positive & Affirms 'BB' CCR
VERTAFORE INC: S&P Puts 'B' CCR on CreditWatch Negative
VISUALANT INC: Incurs $295,000 Net Loss in Second Quarter
VIVID SEATS: S&P Assigns 'B' Corp. Credit Rating, Outlook Stable
WELLNESS CENTER: Weinberg & Co. Replaces Li and Co. as Auditors

WELLSVILLE FOUNDRY: Court Extends Plan Exclusivity to Aug. 10
WEST CORP: Reports $44.6 Million Net Income for First Quarter
WINDSOR FINANCIAL: Objects to Conversion Bid
WRIGHTWOOD GUEST: Asks to Use Cash to Hold Booked Weddings
WWW STORAGE: U.S. Trustee Unable to Appoint Committee

[*] BakerHostetler to Use ROSS Intelligence for Bankruptcy Team
[*] Brian Williams Joins Carl Marks Advisors as Managing Director
[*] Creditsafe Releases Key Metrics on Health of Retail Industry
[*] Timothy Bennett Joins Seyfarth Shaw as Senior Counsel
[^] BOND PRICING: For the Week from May 2 to 6, 2016


                            *********

22ND CENTURY: Stockholders Elect 2 Directors to Board
-----------------------------------------------------
22nd Century Group, Inc. held an annual meeting of its stockholders
on April 30, 2016, at which the stockholders:

   (a) elected two Class II directors, Dr. Joseph Dunn and Nora B.
       Sullivan to serve until the 2019 annual meeting of
       stockholders and until their successors are duly elected
       and qualified;

   (b) approved an advisory resolution on executive compensation
       for fiscal year 2015; and

   (c) ratified Freed Maxick CPAs, P.C. as the Company's
       independent registered certified public accounting firm for

       the year 2016.

                       About 22nd Century

Clarence, New York-based 22nd Century Group, Inc., through its
wholly-owned subsidiary, 22nd Century Ltd, is a plant
biotechnology company using technology that allows for the level
of nicotine and other nicotinic alkaloids (e.g., nornicotine,
anatabine and anabasine) in tobacco plants to be decreased or
increased through genetic engineering and plant breeding.

22nd Century reported a net loss of $11.03 million on $8.52 million
of revenue for the year ended Dec. 31, 2015, compared to a net loss
of $15.59 million on $528,991 of revenue for the year ended Dec.
31, 2014.

As of Dec. 31, 2015, 22nd Century Group had $18.37 million in total
assets, $6.64 million in total liabilities and $11.72 million in
total shareholders' equity.


3S INTERNATIONAL: Court Allows Gina Yob's $42K Administrative Claim
-------------------------------------------------------------------
Judge Daniel Opperman of the United States Bankruptcy Court for the
Eastern District of Michigan, Northern Division, Bay City,
determined that creditor Gina S. Yob is entitled to priority status
as an administrative expense claimant in the amount of $42,000,
and, therefore, conditionally granted Ms. Yob's Motion.

A full-text copy of the Opinion dated April 5, 2016 is available at
http://is.gd/3ctKmDfrom Leagle.com.

The case is In Re: 3S INTERNATIONAL, LLC, Chapter 11 Proceeding
Debtor, Case No. 15-21594-dob (Bankr. E.D. Mich.).

3S International, LLC, Debtor In Possession, is represented by
Denise D. Twinney, Esq. -- denise@wardroplaw.com -- WARDROP &
WARDROP, P.C., Robert F. Wardrop, II, Esq.


A C MOBILE: 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 A C Mobile, Inc.

A C Mobile, Inc., sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Southern
District of Texas (Houston) (Case No. 16-31629) on April 3, 2016.

The Debtor is represented by Margaret Maxwell McClure, Esq., at the
Law Office of Margaret M. McClure. The case is assigned to Judge
Karen K. Brown.

The Debtor disclosed total assets of $680,758 and total debts of
$2.27 million.


ABEINSA HOLDING: EthosEnergy Wants Relief From Automatic Stay
-------------------------------------------------------------
EthosEnergy Field Services, LLC, asks the U.S. Bankruptcy Court for
the District of Delaware for relief from the automatic stay as to
debtor Abeinsa Abener Teyma General Partnership, to maintain its
perfected lien in Oregon, pursuant to 11 U.S.C. Section 362(d)(1).

EthosEnergy relates that, at the request of the Debtor, it
performed labor and furnished materials and equipment used in the
construction of Portland General Electric Company's new Carty
Generating Station ("Improvement").  EthosEnergy notes that
pursuant to Oregon Revised Statute ("ORS") 87.010(1) and 87.015(1),
as a result of EthosEnergy providing labor, material, and
equipment, a lien attached for the benefit of EthosEnergy to the
Improvement and the land upon which it sits.

Ethos Energy contends that the Debtor failed to pay EthosEnergy for
the labor, material, and equipment it provided to the Carty
Generating Station.  It further contends that as of the Petition
Date, the Debtor owes EthosEnergy $1,447,119, plus interest and
attorneys' fees, for work on the Carty Generating Station.
EthosEnergy adds that no payments have been made postpetition.

EthosEnergy avers that it filed its Lien Claim with the recording
officer of Morrow County, Oregon, the county in which the
Improvement is situated ("Lien Claim").  It further avers that the
Lien Claim is in the amount of $1,446,048, plus interest and
attorneys' fees.  EthosEnergy relates that it filed its Lien Claim
with the recording officer of Morrow County, Oregon, the county in
which the Improvement is situated ("Lien Claim").  It further
relates that the Lien Claim is in the amount of $1,446,048, plus
interest and attorneys' fees.  EthosEnergy tells the Court that it
delivered to the owner and to the mortgagee a written notice that
the Lien Claim was filed and it intended to foreclose upon the
lien.

EthosEnergy avers that Portland General Electric Company, the owner
of the Improvement and land against which EthosEnergy's Lien Claim
was perfected, filed with the recording officer of Morrow County,
Oregon, a release of lien bond ("Release of Lien Bond").

"The Debtor will not suffer prejudice from entry of an order
granting the relief requested.  If the Motion is granted,
EthosEnergy intends to file a foreclosure action as to its Lien
Claim in Morrow County, Oregon to maintain its lien rights, an
action EthosEnergy is required by Oregon law to take in order to
maintain a perfected lien. EthosEnergy plans to commence suit to
foreclose the Lien Claim, but does not intend to pursue the Debtor
for unpaid amounts owed to it without further leave of Court. As
such, the Debtor will suffer little, if any, prejudice from
modifying the automatic stay to accommodate EthosEnergy,"
EthosEnergy asserts.

EthosEnergy Field Services is represented by:

          Christopher A. Ward, Esq.
          Jarrett Vine, Esq.
          POLSINELLI PC
          222 Delaware Avenue, Suite 1101
          Wilmington, DE 19801
          Telephone: (302)252-0920
          Facsimile: (302)252-0921
          E-mail: cward@polsinelli.com
                 jvine@polsinelli.com

                - and -

          Kevin S. Neiman, Esq.
          LAW OFFICES OF KEVIN S. NEIMAN, PC
          1621 18th Street, Suite 260
          Denver, CO 80202
          Telephone: (303)996-8637
          Facsimile: (877)611-6839
          E-mail: kevin@ksnpc.com

                       About Abeinsa Holding

Abeinsa Holding Inc., Abengoa Solar LLC, Abeinsa EPC LLC, Abencor
USA, LLC, Nicsa Industrial Supplies LLC, Abener Construction
Services LLC, Abeinsa Abener Teyma General Partnership, Abener
Teyma Mojave General Partnership, Abener Teyma Inabensa Mount
Signal Joint Venture, Teyma USA & Abener Engineering and
Construction Services General Partnership, Teyma Construction USA,
LLC, Abener North America Construction L.P., and Inabensa USA, LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead
Case No. 16-10790) on March 29, 2016.  The petitions were signed
by
Javier Ramirez as treasurer.  

DLA Piper LLP (US) represents the Debtors as counsel.  Prime Clerk
serves as the Debtors' claims and noticing agent.



ABEINSA HOLDING: Siemens Industry Wants Automatic Stay Relief
-------------------------------------------------------------
Siemens Industry Inc. asks the U.S. Bankruptcy Court for the
District of Delaware for relief from the automatic stay.

Siemens relates that it is the holder of a valid, properly
perfected construction lien claim against Portland General Electric
Company, which arose in connection with material, labor and/or
services furnished by Siemens to Debtor Abeinsa Abener Teyma
General Partnership ("AATGP").

AATGP was the Engineering, Procurement and Construction contractor
for the construction of improvements on the real property owned by
Portland General Electric Company, located at 733696 Tower Road,
Boardman, Morrow County, Oregon, which is commonly known as the
Carty Generating Station ("Improvements").

Siemens relates that at the request of AATGP, Siemens provided
AATGP with certain labor, materials and services to be used in
connection with the construction of the Improvements.  Siemens
further relates that pursuant to the Construction Lien Law Sections
87.010(1) and 87.015, Siemens obtained a lien on the Improvements
for the labor, materials and services furnished in connection with
the construction therewith.  Siemens contends that AATGP failed to
pay SII in full for the labor, materials and services furnished by
SII in connection with construction of the Improvements.  It avers
that in order to perfect its lien on the Improvements, Siemens
filed a Claim of Construction Lien in the amount of $7,136,015
("Lien Claim") against Portland General Electric Company, which was
recorded with the recording officer in the Office of the County
Clerk for Morrow County, Oregon.   Siemens relates that Portland
General Electric Company recorded a Release of Lien Bond.

Siemens avers that as of the Petition Date, it was owed $7,136,015,
plus recording fees of $51.00, plus accrued interest and attorneys'
fees.  It further avers that it has received no payments on account
of the Lien Claim since the Petition Date.  

Siemens seeks automatic stay relief to enable it to take any and
all action it deems necessary for Siemens to maintain the
perfection of its Lien Claim, which action would include the filing
of a complaint to commence claims against the Debtor, as well as
other parties, in Oregon State Court, and effecting service of the
complaint and a summons on the Debtor and all other defendants.

The proposed hearing schedule for Siemens Industry's Motion is on
April 27, 2016 at 10:00 a.m. The proposed deadline for the filing
of objections to Siemens Industry's Motion is set on April 25, 2016
at 11:00 a.m.

Siemens Industry Inc. is represented by:

         Emily Devan, Esq.
         REED SMITH LLP
         1201 Market Street, Suite 1500
         Wilmington, DE 19801
         Telephone: (302)778-7500
         Facsimile: (302)778-7575
         E-mail: edevan@reedsmith.com

                      About Abeinsa Holding

Abeinsa Holding Inc., Abengoa Solar LLC, Abeinsa EPC LLC, Abencor
USA, LLC, Nicsa Industrial Supplies LLC, Abener Construction
Services LLC, Abeinsa Abener Teyma General Partnership, Abener
Teyma Mojave General Partnership, Abener Teyma Inabensa Mount
Signal Joint Venture, Teyma USA & Abener Engineering and
Construction Services General Partnership, Teyma Construction USA,
LLC, Abener North America Construction L.P., and Inabensa USA, LLC
filed Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed
Lead Case No. 16-10790) on March 29, 2016.  The petitions were
signed by Javier Ramirez as treasurer.

DLA Piper LLP (US) represents the Debtors as counsel.  Prime Clerk
serves as the Debtors' claims and noticing agent.


AEMETIS INC: Signs Merger Agreement with EdenIQ
-----------------------------------------------
Aemetis, Inc., and EdenIQ Acquisition Corp., a wholly-owned
subsidiary of the Company ("Merger Sub"), entered into an Agreement
and Plan of Merger with EdenIQ, Inc.

Pursuant to the terms of the Merger Agreement, and subject to the
conditions thereof, Merger Sub will merge with and into EdenIQ with
EdenIQ continuing as the surviving corporation in the merger. At or
after closing, Aemetis will pay:
   
    (i) one million shares of Aemetis common stock,

   (ii) an amount of cash or stock, at the election of EdenIQ
        stockholders, with a value of two million dollars,

  (iii) eight million dollars in cash,  payable in quarterly
        installments of $500,000 during the years 2017-2020, and

   (iv) an annual payment equal to 20 percent of the Free Cash
        Flow (as defined in the Merger Agreement) per year of
        EdenIQ, which amount (a) shall not exceed four million
        dollars in any calendar year and (b) will be made for each

        calendar year commencing 2017 and ending 2020, and the
        payment in respect of the calendar year 2020 shall be
        subject to certain adjustments, provided that the
        aggregate of (iii) and (iv) shall not exceed $18 million.

The Merger Agreement contains customary representations, warranties
and covenants, including: (i) the conduct of the business of EdenIQ
and its subsidiaries prior to the consummation of the Merger; (ii)
the use of the parties' reasonable best efforts to cause the Merger
to be consummated.  The representations, warranties, covenants and
agreements of the Company and EdenIQ contained in the Merger
Agreement have been made (i) only for purposes of the Merger
Agreement, (ii) have been qualified by confidential disclosures
made to the other party in disclosure letters delivered in
connection with the Merger Agreement, (iii) are subject to
materiality qualifications contained in the Merger Agreement which
may differ from what may be viewed as material by investors, (iv)
were made only as of the date of the Merger Agreement or such other
date as is specified in the Merger Agreement and (v) have been
included in the Merger Agreement for the purpose of allocating risk
between the parties rather than establishing matters as fact.
Accordingly, the Merger Agreement is included as an exhibit to this
Current Report on Form 8-K only to provide investors with
information regarding the terms of the Merger Agreement, and not to
provide investors with any other factual information regarding the
Company or its business. Investors should not rely on the
representations, warranties, covenants and agreements, or any
descriptions thereof, as characterizations of the actual state of
facts or condition of the Company or any of its subsidiaries or
affiliates.  In addition, information concerning the subject matter
of the representations and warranties may change after the date of
the Merger Agreement, which subsequent information may or may not
be fully reflected in the Company's public disclosures.

A copy of the Agreement and Plan of Merger is available at:

                       http://is.gd/AkKmWA

                           About Aemetis

Cupertino, Calif.-based Aemetis, Inc., is an international
renewable fuels and specialty chemical company focused on the
production of advanced fuels and chemicals and the acquisition,
development and commercialization of innovative technologies that
replace traditional petroleum-based products and convert first-
generation ethanol and biodiesel plants into advanced
biorefineries.

Aemetis reported a net loss of $27.1 million on $147 million of
revenues for the year ended Dec. 31, 2015, compared to net income
of $7.13 million on $207.7 million of revenues for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, Aemetis had $83.1 million in total assets,
$118.43 million in total liabilities and a total stockholders'
deficit of $35.3 million.


AEP MFG: Ernst & Young Named as CCAA Monitor
--------------------------------------------
AEP MFG LTD., formerly Advance Engineered Products Ltd., on April
10, 2015, commenced proceedings under the Companies' Creditors
Arrangement Act, R.S.C. 1985, c. C-36, before the Court of Queen's
Bench for Saskatchewan and obtained protection under the CCAA.
Ernst & Young has been appointed as the Monitor.

As part of the CCAA Proceedings, the Court of Queen's Bench for
Saskatchewan has ordered that a Director and Officer Claims Process
be initiated in order that all claims against the Directors and
Officers of the Company can be determined.  

The Honourable Madam Justice A.R. Rothery oversees the CCAA case.

On the Net: http://www.ey.com/ca/aepl

The Monitor may be reached at:

     Ernst & Young Inc.
     700 West Georgia Street
     PO Box 10101
     Vancouver, British Columbia V7Y 1C7

     English Inquiries
     Attention: Jason Oliveri
     Phone: 604-891-8493
     Fax: 604-899-3530
     Email: jason.oliveri@ca.ey.com

     French Inquiries

     Attention: Maxime Deschenes-Trottier
     Phone: 514-879-2692
     Fax: 604-899-3530
     Email: maxime.deschenes-trottier@ca.ey.com

The deadline for a creditor to submit a D&O Proof of Claim under
the D&O Claims Process, in respect of any D&O Claim it has, or
believes it has, against a Director or Officer was April 1, 2016.


AF-SOUTHEAST LLC: Court Grants $1.2-Mil. Interim Financing
----------------------------------------------------------
The Honorable Kevin Gross of the U.S. Bankruptcy Court for the
District of Delaware authorizes Debtors AF-Southeast, LLC, Allied
Fiber - Florida, LLC, and Allied Fiber - Georgia, LLC, to obtain
senior secured priming and superpriority postpetition financing in
a total amount of $4,467,966, from Strome Mezzanine Fund IV, LP, as
Lender.

Judge Gross further authorizes the Debtors to the use of Cash
Collateral and to borrow under the DIP Facility in an aggregate
principal amount of not more than $1,163,966, to make payments as
permitted by the Approved Budget, for operating expenses, and for
other administrative expenses included budgeted professional fees
between the entry of the Interim Order and the entry of the Final
Order.

Furthermore, Hon. Gross approves the conversion of all outstanding
obligations, arising under or in connection with Second Amendment
to the Loan Agreement by and among the Lender and the Debtors,
including outstanding principal and accrued interest and fees, into
DIP Obligations.

The Court allowed a Carve-Out Cap in an aggregate amount not to
exceed $50,000, plus an aggregate of up to $25,000 of the
Carve-Out, any DIP Collateral, any Senior Pre-Petition Collateral,
and proceeds of the DIP Facility to be used by the Committee to
investigate the claims and/or liens of the Senior Pre-Petition
Lender.

The Final Hearing to consider entry of the Final Order and final
approval of the DIP Facility is scheduled for May 13, 2016, and any
objections thereto are due on May 6.

A full-text copy of the Interim DIP Order dated April 25, 2016, is
available at http://is.gd/4iem6R

                                    About AF-Southeast LLC

AF-Southeast, LLC, Allied Fiber-Florida, LLC and Allied
Fiber-Georgia, LLC are engaged in the business of designing,
constructing and operating an open access, physical layer,
network-neutral colocation and dark fiber network.

Each of the Debtors filed a Chapter 11 bankruptcy petition (Bankr.
D. Del. Case Nos. 16-11008, 16-11009 and 16-11010, respectively) on
April 20, 2016.  The petitions were signed by Scott Drake as sole
member.

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

FOX Rothschild LLP represents the Debtors as counsel.  PMCM, LLC is
the Debtors' chief restructuring officer provider.

Judge Kevin Gross is assigned to the cases.


AKAI HOLDINGS: HK Judge Freezes Up to $1.2BB of Ex Owner's Assets
-----------------------------------------------------------------
In the matter of Akai Holdings Limited, which is in compulsory
liquidation before the High Court of the Hong Kong Special
Administrative Region, Court of First Instance, Commercial Action
No. 42 of 2005, the Honourable Justice Bharwaney of the Court of
First Instance of High Court of Hong Kong has issued an injunction
against James Henry Ting, the former head of Akai, prohibiting him
from disposing of assets worldwide, whether the assets are solely
or jointly owned up to the value of US$1,209,731,677.

Akai Holdings fell apart after recording a US$1.75 billion loss in
1999, according to a Bloomberg News report in 2002. By early 2000,
most of his companies had stopped doing business, slid into
bankruptcy, or been absorbed by other companies.

The prohibitions set out in the Freezing Injunction Order apply to
all of Mr Ting's assets, including real and personal property,
whether tangible or intangible, whether or not they are in Mr
Ting's own name or howsoever held.

The Freezing Injunction Order will remain in force up to further
Order of the Court and shall cease to have effect if Mr Ting pays
the total sum of US$1,209,731,677 to Akai's solicitors.

The Court notice, issued March 10, 2016, provides that, "If you are
Mr Ting or are aware of Mr Ting's whereabouts or assets, you should
immediately contact Mr Cosimo Borrelli or Ms G Jacqueline Fangonil
Walsh, of Borrelli Walsh Limited, Level 17, Tower One, Admiralty
Centre, 18 Harcourt Road, Hong Kong."

"If Mr Ting disobeys the Freezing Injunction Order, he may be found
guilty of contempt of court and may be sent to prison or fined or
his assets may be seized.|

     Cosimo Borrelli and G Jacqueline Fangonil Walsh
     Joint and Several Liquidator
     Akai Holdings Limited
     Level 17, Tower One, Admiralty Centre
     18 Harcourt Road, Hong Kong
     Tel: +852 3761 3888


ALLIED SECURITY: Universal Service Deal No Impact on Moody's B3 CFR
-------------------------------------------------------------------
Moody's Investors Service said the recently announced merger of
AlliedBarton Security Services, the trade name of the operating
subsidiaries of Allied Security Holdings LLC ("AlliedBarton," B3
Stable), and Universal Services of America, operating subsidiary of
USAGM HoldCo LLC ("Universal," B3 Stable), will create the largest
North American security services company. Moody's considers the
plan a positive development because the merged entity will benefit
from increased operating scale and potential cost reduction
synergies. However, given uncertainty regarding the debt capital
structure and integration plans, the companies' B3 Corporate Family
Ratings and stable outlooks remain unchanged at this time.


ALLY FINANCIAL: Posts $250 Million Net Income for First Quarter
---------------------------------------------------------------
Ally Financial Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $250 million on $2.10 billion of total financing revenue and
other interest income for the three months ended March 31, 2016,
compared to net income of $576 million on $2.08 billion of total
financing revenue and other interest income for the three months
ended March 31, 2015.

As of March 31, 2016, Ally had $157 billion in total assets, $143
billion in total liabilities and $13.82 billion in total equity.

As of March 31, 2016, assuming a long-term capital markets stress,
the Company expects that its available liquidity would allow it to
continue to fund all planned loan originations and meet all of its
financial obligations for approximately 36 months, assuming no
issuance of unsecured debt or term securitizations.

                   Recent Funding Developments

During the first three months of 2016, the Company accessed the
public and private markets to execute secured funding transactions,
whole-loan sales, unsecured funding transactions, and funding
facility renewals totaling $17.5 billion.  Key funding highlights
from Jan. 1, 2016, to date were as follows:

   * Ally Financial Inc. closed, renewed, increased, and/or
     extended $13.1 billion in U.S. credit facilities.  The
     automotive credit facility renewal amount includes the March
     2016 refinancing of $11.0 billion for our shared credit
     facilities at both the parent company and Ally Bank with a
     syndicate of sixteen lenders.  The $11.0 billion capacity is
     secured by retail, lease, and dealer floorplan automotive
     assets and is allocated to two separate facilities; one is an

     $8.0 billion facility which is available to the parent
     company, while the other is a $3.0 billion facility available

     to Ally Bank.  Both facilities mature in March 2018.

   * Ally Financial Inc. continued to access the public and
     private term asset-backed securitization markets raising $2.8

     billion, with $1.8 billion and $1.0 billion raised by Ally
     Bank and the parent company, respectively.  Included in Ally
     Bank's funding for 2016 is one off-balance sheet
     securitization backed by retail automotive loans, which
     raised $1.0 billion.  In addition, Ally Bank raised $1.6
     billion related to whole-loan sales comprised of retail
     automotive loans.

   * In April 2016, Ally Financial Inc. accessed the unsecured
     debt capital markets and raised $900 million through the
     issuance of $600 million and $300 million of aggregate
     principal amount of senior and subordinated notes,
     respectively.

                  Realignment of Operating Segments

As a result of a change in how management views and operates the
Company's business, during the first quarter of 2016, the Company
made changes in the composition of its operating segments.

Financial information related to the Company's Corporate Finance
business is now presented as a separate reportable segment.
Previously, all such activity was disclosed in Corporate and Other.
Additionally, only the activity of the Company's ongoing bulk
acquisitions of mortgage loans and other originations and
refinancing is now presented in Mortgage Finance operations.  The
activity related to the management of the Company's legacy mortgage
portfolio is now disclosed in Corporate and Other.  The Company's
other operating segments, Automotive Finance operations and
Insurance operations, remain unchanged.

The Company's segment results will be reported under this new
structure beginning in the first quarter of 2016, and results from
prior periods will be reported in a manner consistent with the new
structure.

Under SEC regulations, the same reportable segment presentation is
also required for previously issued financial statements for each
of the years presented in our 2015 Form 10-K, even though the
financial statements relate to periods prior to the reportable
segment change.  This change in reportable segment has no effect on
the Company's reported net income for any reporting period.

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

                       http://is.gd/CFQ2ln

                       About Ally Financial

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

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

Ally reported net income of $1.28 billion on $4.86 billion of total
net revenue for the year ended Dec. 31, 2015, compared to net
income of $1.15 billion on $4.65 billion of total net revenue for
the year ended Dec. 31, 2014.

                           *     *     *

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

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

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


ALLY FINANCIAL: Stockholders Elect 11 Directors
-----------------------------------------------
On May 3, 2016, Ally Financial Inc. held its annual meeting of
stockholders at which the stockholders:

   (a) elected Franklin W. Hobbs, Robert T. Blakely, Maureen A.
       Breakiron-Evans, Mayree C. Clark, Stephen A. Feinberg,
       Kim S. Fennebresque, Marjorie Magner, John J. Stack,
       Michael F. Steib, Kenneth J. Bacon and Jeffrey J. Brown
       as directors;

   (b) approved, on an advisory basis, compensation of the
       Company's executives; and

   (c) ratified the appointment of Deloitte & Touche LLP as the
       Company's independent registered public accounting firm for
       2016.

                      About Ally Financial

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

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

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

                           *     *     *

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

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

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


ALPHA NATURAL: Rice Provides Update on Asset Purchase Agreement
---------------------------------------------------------------
Rice Energy Inc. on May 4 provided update on its asset purchase
agreement with a subsidiary of Alpha Natural Resources.

The Company says, "As previously announced, we entered into an
asset purchase agreement with a subsidiary of Alpha Natural
Resources, Inc. to acquire Marcellus and Utica assets in central
Greene County, Pennsylvania for $200 million in cash, subject to
purchase price adjustments."

"Pursuant to the terms of the asset purchase agreement, we will
potentially acquire leasehold interest in approximately 27,400 net
undeveloped Marcellus acres, plus an additional 3,200 gross (600
net) mineral acres owned in fee that are leased to us and are
currently generating royalty cash flow.  In addition, the
aforementioned acreage includes rights to the deep Utica on 23,500
net acres.

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

                  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.


AMERICAN BOYCHOIR: Court Rejects Bid to Extend Plan Exclusivity
---------------------------------------------------------------
New Jersey Bankruptcy Judge Kathryn Ferguson denied the request of
American Boychoir School to extend the Debtor's exclusive period
for filing a Chapter 11 plan and disclosure statement.

The American Boychoir School filed for Chapter 11 bankruptcy
protection (Bankr. D. N.J. Case 15-16475-KCF) on April 10, 2015.

The American Boychoir School in Princeton, New Jersey, is a
private
boarding school for fourth- to eighth-grade boys.  The music
school
was founded in 1937 in Columbus, Ohio, as the Columbus Boychoir.
It relocated to Princeton in 1950.

The Debtor is represented by Brian Hofmeister, Esq. --
bwh@hofmeisterfirm.com -- as counsel.


AMERICAN COMMERCE: Appoints Two Directors to Board
--------------------------------------------------
American Commerce Solutions, Inc., and Best Way Auto and Truck
Rental, Inc., announced that board seats have been offered to and
accepted by William Stamps and Harry Willner of Fleetway Leasing
and Sales Company.

Best Way President, John Keena, commented, "AACS Best Way is
remarkably pleased to have these industry stalwarts become part of
our Board of Directors.  The depth of their knowledge and
experience can only enhance our roll out across the country.  Their
willingness to devote their time and resources to our mutual
benefit is a tribute to our business model and will lead to even
greater opportunity for all concerned."

William Stamps and Harry Willner are CEO and General Manager at
Fleetway Leasing, respectively.  Fleetway Leasing and Sales Company
is a $300M automobile leasing company headquartered in
Feasterville, Pennsylvania.  The combined 70 years of automotive
experience uniquely qualifies these men to serve on this board of
directors.

Mr. Stamps is also owner or co-owner of a number of automobile
dealerships across Pennsylvania under the Colonial dealership
banner for Nissan, Volkswagen, Subaru and Hyundai.  With a
background as a Certified Public Accountant, Mr. Stamps has
leveraged his financial acumen for 50 years in the automobile
industry as well as other successful business ventures.

Stamps stated, "We have long been admirers of the Best Way
management team and their aggressive and successful management
style.  Our company, Fleetway Leasing and Sales Company, expects to
be a major part of their continued success and growth.  We have
committed our financing by extending credit lines to facilitate
their expansion and now will dedicate our expertise and experience
to help guide this company to its maximum potential."

Mr. Willner has a background in banking and finance which has
served him well in over 20 years in automobile leasing including
management of a sub-prime credit portfolio for 250 customers and
oversight of a $13M budget.  Mr.Willner offered, "I have been
greatly impressed with the vision and aggressiveness that the Best
Way team has displayed.  Fleetway Leasing is committed to their
success in both financing and management enhancement by lending our
industry experience to their board of directors."

Daniel L. Hefner, CEO/President of AACS offered, "Shareholders of
American Commerce Solutions should see this and all recent actions
as a sign of a new era for AACS. This acquisition is all that we
hoped for and more.  The addition of recent credit lines and now
the addition of the capabilities and resources of these gentlemen
to our management tool box should be catalyst to rapid growth and
an encouragement to current and future investors in this company.
The exciting truth is that additional, significant announcements
are just around the corner!"

On April 13, 2016, Fleetway Leasing granted the Company a $1.6
million credit line, as reported in the Form 8-K filed April 21,
2016.  On April 27, 2016, Fleetway Leasing granted the Company an
additional $5 million credit line, as reported in the Form 8-K
filed May 2, 2016.

                        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: Unsecured Creditors Want Case Converted to Ch. 7
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of American Eagle
Energy Corporation asks the U.S. Bankruptcy Court for the District
of Colorado, to convert the case to Chapter 7.

"Conversion will be a significantly cheaper and more expeditious
process than continued administration under Chapter 11, resulting
in larger recoveries for unsecured creditors; the Noteholders'
unnecessarily multi-layered, prohibitively expensive, defective
plan, together with the substantial expense of litigating or
otherwise fixing all such defects, would deplete such recoveries,
likely to zero or close to zero. In short, conversion is clearly in
the best interest of the estates and their creditors," the Official
Committee argues.

The Official Committee of Unsecured Creditors of American Eagle
Energy Corporation is represented by:

          Barry Wilkie, Esq.
          JONES & KELLER, P.C.
          1999 Broadway, Suite 3150
          Denver, CO 80202
          Telephone: (303)573-1600
          Facsimile: (303)573-8133
          E-mail: bwilkie@joneskeller.com

                 - and -

          Jeffrey N. Pomerantz, Esq.
          Ira D. Kharasch, Esq.
          PACHULSKI STANG ZIEHL & JONES LLP
          10100 Santa Monica Blvd., 13th Floor
          Los Angeles, CA 90067-4100
          Telephone: (310)277-6910
          Facsimile: (310)201-0760
          E-mail: jpomerantz@pszjlaw.com
                 ikharasch@pszjlaw.com

                    About American Eagle Energy

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 HOSPICE: Seeks Approval of Incentive Plan for Key Employee
-------------------------------------------------------------------
American Hospice Management, LLC, seeks the U.S. Bankruptcy Court's
approval of a key employee incentive plan to key non-insider
employees in the maximum aggregate amount of $135,000.

The Eligible Employees consist of up to seven personnel across
three departments: including (a) finance personnel that work on
taxes, cost reports, bankruptcy reports, accounts payable, and
Medicare, Medicaid and commercial billing and collecting; (b)
information technology personnel; (c) operations personnel that
attend to medical records storage and ensure continued quality
patient care; and (d) management information system personnel with
knowledge of AllScripts.

The proposed amount of the incentive payment for each Eligible
Employee ranges from $5,000 to $50,000 and in the aggregate is
about 7% of total monthly pay for all employees.

The Debtor seeks to implement the Incentive Plan in order to
motivate the Eligible Employees whose work is critical to caring
for the patients, continuing the remaining operations, assisting
with the wind-down of the operations, filing the Plan, completing
the tax, accounting and human resources compliance tasks and
filings, and concluding the auction comprising the Sale.

The Debtor is in a critical stage in these Chapter 11 Cases, a
stage that requires reliable, dedicated and most importantly,
knowledgeable assistance, and these Eligible Employees have proven
to be indispensable and essential to the results achieved to date,
and their wealth of institutional knowledge has substantially
reduced the administrative costs borne by the estates.

American Hospice Management, LLC, et al. are represented by:

       Laura Davis Jones, Esq.
       Colin R. Robinson, Esq.
       PACHULSKI STANG ZIEHL & JONES LLP
       919 North Market Street, 17th Floor
       P.O. Box 8705
       Wilmington, Delaware 19899
       Telephone: 302.652.4100
       Facsimile: 302.652.4400
       Email: ljones@pszjlaw.com
              crobinson@pszjlaw.com

       -- and --

       Samuel R. Maizel, Esq.
       DENTONS US LLP
       601 S. Figueroa Street
       Suite 2500
       Los Angeles, California 90017
       Telephone: 213.623.9300
       Facsimile: 213.623.9924
       Email: samuel.maizel@dentons.com

       -- and --

       Gary W. Marsh, Esq.
       DENTONS US LLP
       303 Peachtree Street, NE
       Suite 5300
       Atlanta, Georgia 30308
       Telephone: 404.527.4150
       Facsimile: 404.527.4198
       Email: gary.marsh@dentons.com

            About American Hospice Management

Headquartered in Jacksonville, Florida, American Hospice Management
Holdings, LLC is a hospice care provider for patients with
conditions including, among other things, cancer, cardiopulmonary
diseases, Alzheimer's and strokes.  American Hospice currently
provides hospice care in the following six markets: (i) Phoenix,
Arizona; (ii) Houston, Texas; (iii) Oklahoma City, Oklahoma; (iv)
Atlanta, Georgia; (v) Richmond and Central Virginia; and (vi) New
Jersey.  The Company employs 365 people.

American Hospice and 10 of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Lead Case No. 16-10670) on
March 20, 2016.  Scott Mahosky signed the petition as chief
executive officer.  The Debtors estimated assets in the range of
$10 million to $50 million and liabilities of up to $50 million.

The Debtors have hired Denton US LLP as counsel, Pachulski Stang
Ziehl & Jones LLP as co-counsel, Harris Williams & Co. as
investment banker, and Kurtzman Carson Consultants, LLC as notice
and claims agent.

Each of the Debtors is owned 100% by American Hospice Management
Holdings, LLC which is a Delaware limited liability company.  The
majority owner of American Hospice Management Holdings, LLC is
American Hospice Holdings Corporation, a Delaware corporation.
American Hospice Holdings Corporation is wholly owned by 2000
Riverside Capital Appreciation Fund, L.P.


AMERICAN RESIDENTIAL: S&P Raises CCR to 'B+', Outlook Stable
------------------------------------------------------------
S&P Global Ratings raised its corporate credit rating on Memphis,
Tenn.-based residential HVAC and plumbing services provider
American Residential Services LLC to 'B+' from 'B'.  The outlook is
stable.

S&P also raised its issue-level rating on the company's first-lien
term loan and revolving credit facility to 'BB-' from 'B' and
revised the recovery rating to '2' from '3'.  The recovery rating
of '2' indicates S&P's expectation for substantial (70%-90%, at the
lower end of the range) recovery in the event of payment default.
The company's second-lien term loan is not rated.

The upgrade reflects ARS' stronger credit metrics and S&P's
expectation that debt-to-EBITDA will remain below 5x.  S&P believes
there will not be a releveraging event (where debt-to-EBITDA would
approach 5x) with debt-funded acquisitions or dividends in the next
12–24 months.

"The company's operating performance outpaced our expectations
primarily because of successful integrations of seven acquisitions
in the last two years, primarily funded with internally generated
cash," said S&P Global Ratings credit analyst Suyun Qu.  "We expect
similar levels of acquisition going forward.  Furthermore, we
forecast the company to reinvest most of its free cash flow back
into the business in the next 2–3 years as the residential HVAC
and plumbing market is very fragmented and often dominated by
strong local competitors."

With the company's aggressive growth strategy, S&P Global Ratings
anticipates very little cash remaining to pay down debt or initiate
shareholder returns.  Though the company remains acquisitive, S&P
do not forecast any transformational acquisitions that will require
the company to raise additional debt.  As such, S&P believes the
company has room to strengthen its credit metrics and financial
leverage will approach the the low-4x area in the next 12 month.

The company is owned by Charlesbank Capital Partners LLC.  S&P
assumes the financial sponsor will not initiate a debt-funded
shareholder return in the next 12–24 month as they remain
supportive of the company's growth initiatives.

The stable outlook reflects S&P's expectation that the company will
continue to be acquisitive and grow its EBITDA.  Additionally, S&P
expects modest margin improvement from synergies of acquisitions
such that debt to EBITDA declines to low-4x area in the next 12
month.  The stable outlook also reflects S&P's expectation that the
company will not initiate debt-funded acquisitions or shareholder
returns in the next 12-24 months.


ANTERO ENERGY: Ch. 11 Trustee Can Access Cash to Pay AIX JIBs
-------------------------------------------------------------
Chapter 11 Trustee Jeffrey H. Mims sought and obtained from the
Bankruptcy Court for the Northern District of Texas, Dallas
Division, authority to use the cash of Antero Energy Partners, LLC,
to pay post-petition JIBs from AIX Energy, Inc.

The Court has determined that Energy Resources Group, LLC's
interest is adequately protected by the preservation of the working
interests of the Debtor caused by the payment of JIBs related to
those interests, however, the validity of any liens held by ERG on
the assets of the Debtor are not determined in the Cash Collateral
Order.

The Court further authorized the Trustee to pay past due
post-petition JIBs to AIX, as well as to make any payment
adjustments or offsets necessary to true up the post-petition
accounting, in case the Trustee agrees with the Trustee for AIX
that the post-petition JIB's are overstated or understated. If the
Trustee decides to make these payments, the Trustee is required to
give ERG written notice of the amount the Trustee intends to pay
after consultation with the Trustee for AIX.

A full-text copy of the Cash Collateral Order dated April 21, 2016
is available at http://bit.ly/1rIjriP

In his Motion, the Trustee asserts that the Debtor owns significant
working interests in wells being operated by AIX in northwest
Louisiana, where AIX is incurring operating expenses and charging
the Debtor according to the Debtor's working interests in the wells
operated by AIX, these charges are commonly referred to as "JIBs"
(joint interest billings).

The Trustee informs the Court that he has approximately $241,000 in
cash on hand -- proceeds from sales of oil and gas paid directly
from purchasers of production from wells operated by AIX. The
payment of JIBs is an inherent contractual cost of working interest
ownership that will preserve the value of the working interests
owned by the Debtor. The Trustee requests authority to pay $132,257
to AIX in past-due post-petition JIBs plus authority to pay future
JIBs during the pendency of this case to avoid forfeitures and
penalties arising from non-payment thereof.

A full-text copy of the Cash Collateral Motion dated March 31, 2016
is available at http://bit.ly/1O9zdgM

On the other hand, ERG complains that the Debtor has no real
adequate protection it can offer ERG for the use of its cash
collateral, and has no assets other than ERG's current collateral,
with the exception, perhaps, of potential Chapter 5 causes of
action. Therefore, as adequate protection, ERG requests that the
Court:

   a. Determine the validity, priority, extent and enforceability
of ERG's notes, mortgages, deeds of trust, security agreements and
financing statements at the earliest possible time.

   b. Deny the Motion insofar as it authorizes for the payment of
the first JIB dated 12/31/2015 and second JIB dated 1/31/2016 on
the basis that these JIBs reflects unsecured obligations arising
prior to the Debtor's Filing Date and are thus prepetition debts,
the collection of which is currently barred by the automatic stay.

   c. Direct the Trustee to obtain and submit revised JIBs from AIX
which reflect legitimate third party operational expenses for goods
and services delivered or performed after the Debtor’s Filing
Date.

   d. Order the Trustee provide ERG with a fifteen (15) business
day period of time to review the Revised JIBs, and any subsequent
JIBs, and during such period, allow ERG to object to the payment of
such JIBs and seek an immediate hearing before this Court.

   e. Grant ERG an administrative claim against the Debtor, and a
lien on the Debtor’s Chapter 5 Causes of Action to the extent of
the decline in the value of Cash Collateral as of the Petition
Date.

Proposed Attorneys for Jeffrey H. Mims, Chapter 11 Trustee:

       Charles B. Hendricks, Esq.
       Emily S. Wall, Esq.
       CAVAZOS, HENDRICKS, POIROT & SMITHAM, P.C.
       Suite 570, Founders Square
       900 Jackson Street
       Dallas, TX  75202
       Direct Dial: (214) 573-7302
       Fax: (214) 573-7399
       Email: chuckh@chfirm.com
              ewall@chfirm.com

Energy Reserves Group LLC is represented by:

       Leonard H. Simon, Esq.
       PENDERGRAFT & SIMON, LLP
       2777 Allen Parkway, Suite 800
       Houston, TX 77019
       Telephone: (713) 528-8555
       Facsimile: (713) 868-1267
       Email: 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.


ARCH COAL: Additional Info on D&Os, Corp. Governance Filed
----------------------------------------------------------
Arch Coal Inc. filed with the Securities and Exchange Commission
Amendment No. 1 on Form 10-K/A to amend its Annual Report on Form
10-K for the fiscal year ended December 31, 2015, that was filed
with the Securities and Exchange Commission on March 15, 2016.

The Company provided information on "DIRECTORS, EXECUTIVE OFFICERS
AND CORPORATE GOVERNANCE".

"We are filing this Amendment to provide the information required
by Part III of our Form 10-K. The Amendment also updates the
information on the cover page of the Form 10-K with respect to the
Company's outstanding common stock registered under Section 12(g)
of the Securities Exchange Act of 1934, as amended. The Form 10-K
continues to speak as of the date of the Form 10-K. Unless
expressly stated, this Amendment does not reflect events occurring
after the filing of the Form 10-K, nor does it modify or update in
any way the disclosures contained in the Form 10-K," the Company
said.

A copy of the revised Report is available at http://is.gd/qTBvEI

As reported by the Troubled Company Reporter, Arch Coal reported a
wider net loss of $2,913,142,000 for 2015, from $558,353,000 for
2014, and $641,832,000 for 2013.  Revenues were down to
$2,573,260,000 for 2015, from $2,937,119,000 for 2014, and
$3,014,357,000 for 2013.

At Dec. 31, 2015, the Company had total assets of $5,106,738,000
against total liabilities of $6,351,027,000 and total
stockholders'
deficit of $1,244,289,000.

                         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: Moody's Affirms B1 Rating, Alters Outlook to Negative
------------------------------------------------------------------
Moody's Investors Service affirmed Aria Energy Operating, LLC's B1
Corporate Family Rating (CFR), B1-PD Probability of Default Rating
(PDR), and B1 Senior Secured Bank Credit Facility rating. The
rating outlook is changed to negative from stable. In addition,
Moody's lowered Aria Speculative Grade Liquidity rating to SGL-4
from SGL-3.

Affirmations:

Issuer: Aria Energy Operating LLC

-- Probability of Default Rating, Affirmed at B1-PD

-- Corporate Family Rating, Affirmed at B1

-- Senior Secured Bank Credit Facility, Affirmed at B1 (LGD 4)

Downgrades:

Issuer: Aria Energy Operating LLC

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

Outlook Actions:

Issuer: Aria Energy Operating LLC

-- Outlook, Negative

RATINGS RATIONALE

Aria's B1 CFR rating reflects the continued lower power price
environment for merchant plants as well as on-going operational
issues stemming from engine bearing part failure that are
pressuring its financial metrics. The rating is supported by
generally stable cash flow generated by the portion of its business
under long-term power sales contracts, sales of renewable natural
gas and renewable energy credits, as well as operations and
management (O&M) service contracts. Approximately 57% of Aria's
generation portfolio is under long-term contracts and these
contracted sales make up approximately 74% of Aria's total annual
revenue.

However, Aria's relatively small scale with approximately $400
million of total assets weighs down on the rating, particularly
when considering the challenges associated with maintaining
sufficient oversight when managing a portfolio of 24 assets across
11 states.

Moody's said, "The change in Aria's rating outlook to negative
reflects our concerns about the company's corporate governance,
internal controls, and operating procedures given its small size,
and its portfolio of assets spread out across the U.S., as well as
recent personnel changes including the appointment of a new Chief
Financial Officer.

"Based on the negative market and operational developments, we
believe Aria's key metrics such as cash flow from operation
pre-working capital to debt (CFO pre-WC to debt) will fall into the
11% - 15% range. Furthermore, we believe Aria will continue to
maintain an aggressive dividend policy under its current ownership.
Thus, we expect Aria's retained cash flow to debt (RFC to debt) to
range from 5%-8%."

The downgrade of its Speculative Grade Liquidity rating to SGL-4
from SGL-3 reflects the weakness in its liquidity resulting from
the ongoing pressure on Aria's liquidity profile caused by its
higher costs associated with its operational problems. Although the
company had $27 million of cash on hand as of September 30, 2015,
access to additional funding under its $70 million revolving credit
is highly constrained. Aria also has limited access to alternate or
"back door" sources of liquidity as its assets are fully encumbered
with its lenders having a first priority lien on Aria's current and
future assets. Furthermore, Aria's landfill gas projects are
relatively small, highly specialized and widely dispersed.

An upgrade over the near term is unlikely given the negative
outlook. An upgrade could occur if the company demonstrated an
improved and consistent operation of its fleet at levels similar to
pre-2015 operations after it incorporates its new maintenance
schedule and addresses the engine part failure. If these result in
an improved financial profile and credit metrics such that, for
example, its CFO pre-WC to debt improves above 16% on a sustained
basis, an upgrade could be considered.

A rating downgrade could be considered if Aria is not successful in
renewing its long-term contracts, resulting in a material
deterioration in revenue. Aria's rating could also be downgraded if
if its operations deteriorate further or require additional
investments that would constrain its balance sheet and liquidity.
Furthermore, if its key metrics such as CFO pre-WC to debt declines
to below 11% on a sustained basis, a downgrade could be possible.

Aria is one of the largest landfill gas (LFG) companies in the U.S.
and owns and operates 24 LFG projects across 11 states. Aria
captures the landfill gas to either generate electricity or produce
renewable natural gas, and sells the output. Today, Aria owns has
approximately 163 MWe of net capacity. Aria is owned by private
equity investor funds managed by Ares EIF Management, L.P.


ASARCO LLC: Court Affirms Dismissal of Claims vs Atlantic Richfield
-------------------------------------------------------------------
Asarco LLC appeals the order of the First Judicial District Court,
Lewis and Clark County, granting Atlantic Richfield Company's
motion for judgment on the pleadings and dismissing Asarco's
claims.

Asarco filed a complaint against Atlantic Richfield in the United
States District Court for the District of Montana. Asarco sought
contribution -- pursuant to CERCLA -- from Atlantic Richfield for
costs incurred in cleaning up the Site. Asarco claimed that
Atlantic Richfield was responsible, in part, for the Site's
contamination due to the zinc fuming plant's operation. Asarco
therefore asserted that Atlantic Richfield was liable under CERCLA
for its equitable share of costs related to the Site's cleanup.

Atlantic Richfield moved for judgment on the pleadings pursuant to
M. R. Civ. P. 12(c) (Rule 12(c)) on the ground that the doctrine of
claim preclusion barred Asarco's claims. The District Court issued
its order in June 2015 following briefing and oral argument. The
District Court determined: that Asarco could have amended its
complaint in Asarco I to include its state-law claims; that the
federal district court would have had supplemental jurisdiction
over the state-law claims; that it was not clear whether the
federal district court would have refused to continue exercising
supplemental jurisdiction over the state-law claims after
dismissing Asarco's CERCLA claim; and that the elements of claim
preclusion were met. Accordingly, the court granted Atlantic
Richfield's motion and dismissed the matter. Asarco appeals.

The Supreme Court of Montana affirmed the District Court's order
granting Defendant and Appellee Atlantic Richfield's motion for
judgment on the pleadings.

A full-text copy of the Decision dated April 12, 2016 is available
at http://is.gd/g5Jt59from Leagle.com.

The case is ASARCO LLC, a Delaware corporation, Plaintiff and
Appellant, v. ATLANTIC RICHFIELD COMPANY, a Delaware Corporation,
Defendant and Appellee, No. DA 15-0464, 2016 MT 90

Rachel H. Parkin, Esq. -- rparkin@bigskylawyers.com --
Milodragovich, Dale & Steinbrenner, P.C., Dylan McFarland, Esq. --
dmcfarland@bigskylawyers.com -- Milodragovich, Dale & Steinbrenner,
P.C., Missoula, Montana, Gregory Evans, Esq. --
gevans@mcguirewoods.com -- McGuirewoods LLP, Laura G. Brys, Esq. --
lbrys@mcguirewoods.com -- McGuirewoods LLP, Los Angeles,
California, for Appellant.

Randy J. Cox, Esq. -- rcox@boonekarlberg.com -- Boone Karlberg
P.C., Randy J. Tanner, Esq. -- rtanner@boonekarlberg.com -- Boone
Karlberg P.C., Missoula, Montana, Shannon Wells Stevenson, Esq. --
shannon.stevenson@dgslaw.com -- Davis Graham & Stubbs LLP, Denver,
Colorado, for Appellee.

                   About Asarco LLC

Based in Tucson, Arizona, ASARCO LLC -- http://www.asarco.com/--
is an integrated copper mining, smelting and refining company.
Grupo Mexico S.A. de C.V. is ASARCO's ultimate parent.

ASARCO LLC filed for Chapter 11 protection (Bankr. S.D. Tex. Case
No. 05-21207) on Aug. 9, 2005.  Attorneys at Baker Botts
L.L.P., and Jordan, Hyden, Womble & Culbreth, P.C., represented
the Debtor in its restructuring efforts.

On Dec. 9, 2009, Asarco Incorporated and Americas Mining
Corporation's Seventh Amended Plan of Reorganization for the
Debtors became effective and the ASARCO Asbestos Personal Injury
Settlement Trust was created and funded with nearly $1 billion in
assets, including more than $650 million in cash plus a $280
million secured note from Reorganized ASARCO.  The Plan, which was
confirmed both by the bankruptcy and district courts, reintegrated
ASARCO LLC back to parent Grupo Mexico concluding the four-year
Chapter 11 proceeding.


ASSIST-MED INC: 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 Assist-Med, Inc.

Assist-Med, Inc. sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Southern
District of Texas (Houston) (Case No. 16-31624) on April 3, 2016.

The Debtor is represented by Margaret Maxwell McClure, Esq., at the
Law Office of Margaret M. McClure. The case is assigned to Judge
Karen K. Brown.

The Debtor disclosed total assets of $23,284 and total debts of
$1.11 million.


ATLANTIC CITY, NJ: S&P Cuts GO Debt Rating to CC, Outlook Negative
------------------------------------------------------------------
S&P Global Ratings has lowered its rating on Atlantic City, N.J.'s
general obligation (GO) debt to 'CC' from 'CCC-'.  The outlook is
negative.  The rating action resolves the CreditWatch Developing
that we placed on the rating on Jan. 22, 2016.

"The downgrade reflects our opinion that a default or debt
restructuring appears to be a virtual certainty even under the most
optimistic circumstances," said S&P Global credit analyst Timothy
Little.

In S&P's opinion, while the city may receive extraordinary support
from the state government, S&P is not confident that it will
prevent a default or debt restructuring that would impair
bondholders.  While the city was able to meet its May 1 debt
service requirements, payments on subsequent issues are, in S&P's
opinion, highly vulnerable to nonpayment.  S&P also views the
city's ability to meet its financial commitments in the long term
to be unsustainable.

S&P will continue to monitor the city as subsequent debt service
payments come due and to evaluate whether events transpire that
affect S&P's opinion of its credit profile.

"The negative outlook reflects our opinion that there is at least a
one-in-three likelihood that we could lower the rating over the
next year due to the uncertainty as to whether the city has the
ability to meet its financial obligations when due," added Mr.
Little.  Since the release of the Emergency Manager's 60-day report
in March 2015, bonded debt deferrals have been a possible course
for the city.  S&P views payment on future obligations to be highly
vulnerable to nonpayment and that a default or debt restructuring
is a virtual certainty.  In S&P's opinion, while extraordinary
state intervention may occur, S&P is not confident that it would
prevent a payment default or debt restructuring.


ATP OIL: Court Grants Bennu's Bid for Partial Summary Judgment
--------------------------------------------------------------
Judge Marvin Isgur of the United States Bankruptcy Court for the
Southern District of Texas, Houston Division granted Defendant
Bennu Oil & Gas, LLC's motion for partial summary judgment on its
counterclaim for declaratory judgment that it took the Telemark
Properties free and clear of Hornbeck's alleged statutory liens.

Judge Isgur found that Hornbeck's statutory liens do not constitute
Senior Prior Liens. However, Judge Isgur held that Bennu's summary
judgment motion did not address its request for a permanent
injunction. Bennu must file a brief statement by May 2, 2016,
indicating whether it wishes to waive its request for a permanent
injunction and obtain final judgment over the declaratory relief.
If it does not wish to waive its request for injunctive relief, the
Court will issue a scheduling order for trial.

The adversary case HORNBECK OFFSHORE SERVICES, LLC, Plaintiff(s).
v. ATP OIL & GAS CORPORATION, et al, Defendant(s), Adversary No.
13-3221 (Bankr. S.D. Tex.), in relation to IN RE: ATP OIL & GAS
CORPORATION, Chapter 7, Debtor(s), Case No. 12-36187.

A full-text copy of the Memorandum Opinion dated April 13, 2016 is
available at http://is.gd/v2Fydcfrom Leagle.com.

Bennu Oil & Gas, LLC, Defendant, is represented by Andrew J. Gallo,
Esq. --  andrew.gallo@morganlewis.com -- Morgan, Lewis & Bockius
LLP.

                        About ATP Oil

Houston, Texas-based ATP Oil & Gas Corporation is an international
offshore oil and gas development and production company focused in
the Gulf of Mexico, Mediterranean Sea and North Sea.

ATP Oil & Gas filed a Chapter 11 petition (Bankr. S.D. Tex. Case
No. 12-36187) on Aug. 17, 2012.  Attorneys at Mayer Brown LLP,
serve as bankruptcy counsel.  Munsch Hardt Kopf & Harr, P.C., is
the conflicts counsel.  Motley Rice LLC and Fayard & Honeycutt,
APC serve as special counsel.  Opportune LLP is the financial
advisor and Jefferies & Company is the investment banker.

Kurtzman Carson Consultants LLC is the claims and notice agent.

ATP disclosed assets of $3.6 billion and $3.5 billion of
liabilities as of March 31, 2012.  Debt includes $365 million on a
first-lien loan where Credit Suisse AG serves as agent.  There is
$1.5 billion on second-lien notes with Bank of New York
MellonTrust Co. as agent.  ATP's other debt includes $35 million
on
convertible notes and $23.4 million owing to third parties for
their shares of production revenue.  Trade suppliers have claims
for $147 million, ATP said in a court filing.

An official committee of unsecured creditors has been appointed in
the case.  Evan R. Fleck, Esq., at Milbank, Tweed, Hadley &
McCloy, in New York, represents the Creditors Committee as
counsel.

A seven-member panel of equity security holders has also been
appointed in the case.  Kyung S. Lee, Esq., and Charles M. Rubio,
Esq. of Diamond McCarthy LLP, in Houston, Texas, serve as counsel
to the Equity Committee.

Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, issued an order on June 26,
2014, converting ATP Oil & Gas Corporation's Chapter 11 case to
one under Chapter 7 of the Bankruptcy Code.


ATP OIL: Supreme Not Entitled to Lien and Privilege Under LOWLA
---------------------------------------------------------------
Defendant Bennu Oil & Gas, LLC seeks partial summary judgment on
the issue of whether the on-shore storage services Plaintiff
Supreme Service & Specialty Co., Inc., provided to Debtor ATP Oil &
Gas Corporation entitle Supreme to a lien and privilege under the
Louisiana Oil Well Lien Act.  Supreme has indicated that it may
have provided other services to ATP that commenced prior to the
Senior Lien cut-off date, but it has not identified or pleaded
them.

The court considered competing motions for summary judgment. The
issue central to both motions can be simply stated: whether
on-shore storage services necessary to conduct well site operations
give rise to a privilege under the Louisiana Oil Well Lien Act made
applicable by the Outer Continental Shelf Lands Act.

Judge Marvin Isgur of the United States Bankruptcy Court for the
Southern District of Texas, Houston Division, ruled that Supreme is
not entitled to a lien and privilege under LOWLA for the on-shore
storage services it provided to ATP prior to the senior Lien
cut-off date as it is undisputed that the services Supreme provided
to ATP prior to the Senior Lien cut-off date were conducted
entirely on-shore.

A full-text copy of the Memorandum Opinion dated April 12, 2016, is
available at http://is.gd/vcDq3Jfrom Leagle.com.

The adversary case is SUPREME SERVICE & SPECIALTY CO., INC.,
Plaintiff(s), v. BENNU OIL & GAS, LLC, Defendant(s), Adversary No.
13-3192 (Bankr. S.D. Tex.), in relation to Bankruptcy Case IN RE:
ATP OIL & GAS CORPORATION, Chapter 7, Debtor(s), Case No.
12-36187.

Supreme Service & Specialty Co., Inc., Plaintiff, is represented by
S Ault Hootsell, III, Esq. -- Phelps Dunbar, William Ross Spence,
Esq. -- ross@snowspencelaw.com -- Snow Spence Green LLP.

Bennu Oil & Gas, LLC, Defendant, is represented by Sean B Davis,
Esq. -- sbdavis@winstead.com -- Winstead PC, Phillip L Lamberson,
Esq. -- pllamberson@winstead.com -- Winstead PC.

                       About ATP Oil

Houston, Texas-based ATP Oil & Gas Corporation is an international
offshore oil and gas development and production company focused in
the Gulf of Mexico, Mediterranean Sea and North Sea.

ATP Oil & Gas filed a Chapter 11 petition (Bankr. S.D. Tex. Case
No. 12-36187) on Aug. 17, 2012.  Attorneys at Mayer Brown LLP,
serve as bankruptcy counsel.  Munsch Hardt Kopf & Harr, P.C., is
the conflicts counsel.  Motley Rice LLC and Fayard & Honeycutt,
APC serve as special counsel.  Opportune LLP is the financial
advisor and Jefferies & Company is the investment banker.

Kurtzman Carson Consultants LLC is the claims and notice agent.

ATP disclosed assets of $3.6 billion and $3.5 billion of
liabilities as of March 31, 2012.  Debt includes $365 million on a
first-lien loan where Credit Suisse AG serves as agent.  There is
$1.5 billion on second-lien notes with Bank of New York
MellonTrust Co. as agent.  ATP's other debt includes $35 million
on
convertible notes and $23.4 million owing to third parties for
their shares of production revenue.  Trade suppliers have claims
for $147 million, ATP said in a court filing.

An official committee of unsecured creditors has been appointed in
the case.  Evan R. Fleck, Esq., at Milbank, Tweed, Hadley &
McCloy, in New York, represents the Creditors Committee as
counsel.

A seven-member panel of equity security holders has also been
appointed in the case.  Kyung S. Lee, Esq., and Charles M. Rubio,
Esq. of Diamond McCarthy LLP, in Houston, Texas, serve as counsel
to the Equity Committee.

Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, issued an order on June 26,
2014, converting ATP Oil & Gas Corporation's Chapter 11 case to
one under Chapter 7 of the Bankruptcy Code.


BB&N LLC: 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 BB&N LLC.

BB&N LLC sought protection under Chapter 11 of the Bankruptcy Code
(Bankr. D. Ariz. Case No. 16-03749) on April 8, 2016.  The Debtor
is represented by Donald W. Powell, Esq., at Carmichael & Powell,
PC.


BG MEDICINE: Suspending Filing of Reports with SEC
--------------------------------------------------
BG Medicine, Inc., filed with the Securities and Exchange
Commission a Form 15 notifying the termination of registration of
its common stock under Section 12(g) of the Securities Exchange Act
of 1934.  As a result of the Form 15 filing, the Company is not
anymore obligated to file periodic reports with the SEC.

                       About BG Medicine

Waltham, Mass.-based BG Medicine is a diagnostics company focused
on the development and commercialization of novel cardiovascular
diagnostic tests to address significant unmet medical needs,
improve patient outcomes and contain healthcare costs.  The
Company is currently commercializing two diagnostic tests, the
first of which is the BGM Galectin-3 test, a novel assay for
measuring galectin-3 levels in blood plasma or serum for use as an
aid in assessing the prognosis of patients diagnosed with heart
failure.  The Company's second diagnostic test is the CardioSCORE
test, which is designed to identify individuals at high risk for
near-term, significant cardiovascular events, such as heart attack
and stroke.

BG Medicine reported a net loss attributable to common stockholders
of $6.95 million on $1.56 million of total revenues for the year
ended Dec. 31, 2015, compared to a net loss attributable to common
stockholders of $8.06 million on $2.78 million of total revenues
for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, BG Medicine had $2.13 million in total assets,
$1.51 million in total liabilities, $2.59 million in convertible
preferred stock, and a $1.97 million in total stockholders'
deficit.

Marcum LLP, in New York, NY, issued a "going concern" qualification
on the consolidated financial statements for the year ended Dec.
31, 2015, citing that the Company's recurring losses from
operations, recurring cash used in operating activities and
accumulated deficit raise substantial doubt about its ability to
continue as a going concern.


BH SUTTON: Court OKs Joint Administration of Chapter 11 Cases
-------------------------------------------------------------
Judge Sean H. Lane of the U.S. Bankruptcy Court for the Southern
District of New York authorized and directed the joint
administration of the Chapter 11 cases of BH Sutton Mezz LLC and
Sutton 58 Owner LLC for procedural purposes only under Case No.
16-10455.

The Court ruled that the caption of the jointly administered cases
will read as In re: BH Sutton Mezz LLC, et al., Case No. 16-10455
(SHL).

                         About BH Sutton

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


BILL BARRETT: Incurs $46.5 Million Net Loss in First Quarter
------------------------------------------------------------
Bill Barrett Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $46.5 million on $29.4 million of total operating and other
revenues for the three months ended March 31, 2016, compared to a
net loss of $11.7 million on $49.1 million of total operating and
other revenues for the same period in 2015.

As of March 31, 2016, Bill Barrett had $1.44 billion in total
assets, $938.23 million in total liabilities and $506 million in
total stockholders' equity.

Chief Executive Officer and President Scot Woodall commented, "Our
team continues to execute and we posted another solid quarter of
operational and financial results.  The positive results were due
in part to production coming in at the upper end of our guidance
range, tightening oil differentials, and a 26% year-over-year
decrease in per unit LOE.  In addition, G&A expense declined 17%
compared to the first quarter of 2015.  We continue to maintain a
capital disciplined approach as first quarter spending was 20%
below the mid-point of our guidance range as we captured further
XRL well cost savings.  This gives us the confidence to lower our
full-year 2016 capital expenditure guidance, while reaffirming our
production guidance.  The second quarter is off to a good start and
we continue to be encouraged by the results of our XRL development
program and the associated contribution to our increasing
production profile this year.  We are in the process of completing
and placing on initial flowback the remainder of the wells that
have been drilled.  Our balance sheet remains strong as we ended
the quarter with a cash position of $106 million, an undrawn credit
facility, and a favorable hedge position which provides ample
liquidity.  The Uinta Basin non-core asset sale will further
bolster our balance sheet by increasing our cash position."

At March 31, 2016, the principal balance of long-term debt was
$803.2 million and cash and cash equivalents were $105.6 million,
resulting in net debt (principal balance of debt outstanding less
the cash and cash equivalents balance) of $697.6 million.

The Company's semi-annual borrowing base review was completed in
April 2016 with the bank group setting a borrowing base of $335
million, an 11% reduction from the previous borrowing base of $375
million.  There were no changes to the terms or conditions of the
credit facility and there are no borrowings outstanding.  The
revolving credit facility has $309 million in available capacity,
after taking into account a $26 million letter of credit.

The next regularly scheduled borrowing base redetermination will
occur on or about Oct. 1, 2016.

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

                      http://is.gd/2yvT7n

                       About Bill Barrett

Bill Barrett Corporation is an independent energy company that
develops, acquires and explores for oil and natural gas resources.
All of the Company's assets and operations are located in the Rocky
Mountain region of the United States.

Bill Barrett reported a net loss of $488 million in 2015 following
net income of $15.08 million in 2014.


BIND THERAPEUTICS: Announces Research Collaboration with Affilogic
------------------------------------------------------------------
BIND Therapeutics, Inc., a biotechnology company developing
targeted and programmable therapeutics called ACCURINS(R), on May 5
announced a research collaboration with Affilogic, a privately held
biotechnology company developing affinity proteins called
Nanofitins(R) that selectively bind and interact with identified
targets.  Under terms of the collaboration, BIND will utilize
Nanofitins(R) as targeting ligand components for ACCURINS(R)
designed to bind immuno-oncology targets.  Upon achievement of
proof-of-concept, BIND anticipates expanding the collaboration to
develop ACCURINS(R) that incorporate unique combinations of
immuno-oncology targeting ligands and new classes of payloads,
including oligonucleotides and molecularly targeted therapies.

"Targeting ligand collaborations are an important part of our
strategy to develop innovative medicines and this collaboration
provides us with access to targeting ligands that are key
modulators of anti-tumor immunity," said Jonathan Yingling, Ph.D.,
chief scientific officer, BIND Therapeutics.  "The modular nature
of our platform, including the ability to utilize targeting ligands
that elicit a biological response and enhance disease tissue
accumulation, will potentially allow us to develop ACCURINS(R) that
cause tumor cell death and/or modulate the tumor microenvironment
as a way to maximize clinical benefit for patients."

ACCURINS(R) are polymeric nanoparticles that encapsulate and
control the release of therapeutic payloads with diverse physical
and chemical properties, including highly charged payloads such as
oligonucleotides and molecularly targeted therapies that have
previously been difficult to formulate in a nanoparticle.
Additionally, the surface of ACCURINS(R) can be functionalized with
a variety of biologically active ligands, potentially with multiple
types of ligands on the same particle.  BIND's collaboration with
Affilogic is intended to investigate the use of Nanofitins(R)
protein ligands that bind to important immune regulators.

"We are excited about our collaboration with BIND Therapeutics and
believe our Nanofitin(R) targeting ligands can play an important
role in BIND's innovative medicine strategy," said Olivier Kitten,
chief executive officer, AFFILOGIC.  "BIND's ACCURINS(R) platform
has proven very effective at encapsulating and controlling the
release kinetics of a wide variety of therapeutic payloads.  When
combined with our ability to specifically tailor Nanofitins to
target important immune-oncology checkpoints, we believe this
collaboration could lead to the discovery and development of truly
innovative therapeutics."

This early research collaboration is not expected to have a
material financial impact on BIND Therapeutics.  Additional terms
of the collaboration have not been disclosed.

                     About BIND Therapeutics

BIND Therapeutics is a biotechnology company developing novel
targeted therapeutics, primarily for the treatment of cancer.
BIND'S product candidates are based on proprietary polymeric
nanoparticles called ACCURINS(R), which are engineered to target
specific cells and tissues in the body at sites of disease.  BIND
is developing ACCURINS(R) with three different therapeutic
objectives, both through internal research programs and with
collaborators: Innovative medicines; enabling potent pathway
inhibitors; and differentiated efficacy with approved drugs. BIND's
internal discovery efforts are focused on designing oligonucleotide
and immune-oncology-based ACCURINS(R).

BIND Therapeutics on May 2 disclosed that it has elected to file a
voluntary petition under
Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for
the District of Delaware.


BONANZA CREEK: Incurs $47.2 Million Net Loss in First Quarter
-------------------------------------------------------------
Bonanza Creek Energy, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $47.2 million on $44.2 million of oil and gas sales for the
three months ended March 31, 2016, compared to a net loss of $18.4
million on $73.1 million of oil and gas sales for the same period
in 2015.

As of March 31, 2016, Bonanza had $1.42 billion in total assets,
$1.25 billion in total liabilities and $165 million in total
stockholders' equity.

Richard Carty, president and chief executive officer, commented, "I
am proud to announce our first quarter operational results which
have exceeded expectations for the third consecutive quarter.
While the commodity price environment continues to be challenging
for the Company financially, our underlying Wattenberg assets
continue to outperform.  For the balance of 2016, the Company will
continue its efforts to maximize its liquidity position through
potential asset sales and putting intense focus into maximizing the
productivity of base production and optimizing cost structure."

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

                       http://is.gd/fDrzPq

                       About Bonanza Creek

Bonanza Creek is an independent energy company engaged in the
acquisition, exploration, development and production of onshore oil
and associated liquids-rich natural gas in the United States.
Bonanza Creek Energy, Inc. was incorporated in Delaware on Dec. 2,
2010, and went public in December 2011.

Bonanza Creek reported a net loss of $745.54 million on $292.67
million of oil and gas sales for the year ended Dec. 31, 2015,
compared to net income of $20.28 million on $558.63 million of oil
and gas sales for the year ended Dec. 31, 2014.

                            *    *    *

As reported by the TCR on March 15, 2016, Standard & Poor's Ratings
Services lowered its corporate credit rating on U.S.-based oil and
gas exploration and production company Bonanza Creek Energy Inc. to
'CCC' from 'B-'.  The outlook is negative.

Bonanza Creek carries a B2 corporate family rating from Moody's
Investors Service.


BOZEL S.A.: Court Dismisses Suit vs. Michel Marengere
-----------------------------------------------------
Judge Sean H. Lane of the United States Bankruptcy Court for the
Southern District of New York dismissed the complaint against
Michel Marengere to dismiss the adversary proceeding for
insufficient service of process.

The motion is granted because Plaintiff Trilliant Funding, Inc.
failed to exercise reasonable due diligence in serving the
Defendant by waiting 25 months after the filing of the complaint
and almost sixteen months after a deadline set by the Court.

A full-text copy of the Memorandum of Decision dated April 14, 2016
is available at http://is.gd/gl5n7pfrom Leagle.com.

The adversary case is TRILLIANT FUNDING, INC., as Plan
Administrator of Bozel S.A. and Bozel LLC., Plaintiff, v. MICHEL
MARENGERE Defendant, Adv. Pro. No. 13-01098 (SHL)(Bankr. S.D.N.Y.),
in relation to bankruptcy case In re BOZEL S.A. et al., Chapter 11,
Debtors, Case No. 10-11802 (SHL).

Trilliant Funding, Inc., as Plan Administrator of Bozel S.A.,
Plaintiff, is represented by Eric T. Moser, Esq. --
emoser@r3mlaw.com -- Rich Michaelson Magaliff Moser, LLP, Douglas
J. Pick, Esq. --dpick@picklaw.net -- Pick & Zabicki LLP.

Michel Marengere, Defendant, is represented by Scott Krinsky, Esq.
-- Backenroth Frankel & Krinsky, LLP

                 About Bozel S.A.

Bozel S.A. is a company limited by shares (a 'societe anonyme' or
"S.A.") organized under the Grand Duchy of Luxembourg, and
registered with the Luxembourg Trade and Companies Register under
the number B107769.  Bozel is a holding company which, at the
time of its Chapter 11 filing, owned substantially all of the
stock in Bozel Mineracao, S.A. (organized in Brazil) ("Bozel
Brazil") and Bozel Europe S.A.S. (organized in France) ("Bozel
Europe"), and continues to own Bozel, LLC (organized in the state
of Florida).

Prior to the sale of Bozel Brazil and Bozel Europe to Japan
Metals & Chemicals, Co., Ltd. ("JMC"), Bozel S.A., through its
three operating subsidiaries on three continents, was a worldwide
leader in the sale of calcium silicon ("CaSi").  Immediately
preceding its filing for bankruptcy protection, Bozel S.A. sold
over 40% of the world's CaSi powder output.  Bozel Brazil
produces primarily CaSi and cored wire, which is an industry-
preferred ingredient in the production of high quality steel and
steel alloys.  Bozel Europe produces primarily cored wire.
Bozel, LLC, formerly marketed and distributed in the United
States the products produced by Bozel Brazil.

Bozel S.A. is the sole member and manager of Bozel, LLC.

Bozel sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
10-11802) on April 6, 2010.  In its amended schedules, Bozel
disclosed US$41,134,010 in assets and US$47,365,036 in
liabilities.

Bozel, LLC, filed a separate petition for Chapter 11 (Bankr.
S.D.N.Y. Case No. 11-10033) on Jan. 10, 2011.

Allen G. Kadish, Esq., and Kaitlin R. Walsh, Esq., at Greenberg
Traurig, LLP, in New York, and Mark D. Bloom Esq., at Greenberg
Traurig, LLP, in Miami, represent the Debtors as counsel.

The two cases are jointly administered under Case No. 10-11802.


BUCKINGHAM SECURITIES: Clients Have Until June 30 to File Claims
----------------------------------------------------------------
Upon the application of BNY Trust Company of Canada, as Attorney
for CIBC Mellon Trust Company, agent for National Trust Company,
trustee of the Ontario Contingency Trust Plan, the Ontario Superior
Court of Justice on April 13, 2016, entered an order establishing a
claims procedure to determine claims against the Plan in respect of
losses resulting from dealing with Participants, including:

     (i) Buckingham Securities Corporation;
    (ii) Go Vacations Capital Inc.;
   (iii) iForum Financial Services Inc.;
    (iv) Marlow Group Private Portfolio Management Inc.; and
     (v) Money Growth Financial Services Inc.

Clients of one of the Insolvent Participants who suffered a loss
may be entitled to compensation of up to C$5,000 under the Plan.

Any client of a Participant or an Insolvent Participant that
intends to make a claim against the Plan must file a Proof of Claim
with the Trustee on or before June 30, 2016.  

The Ontario Contingency Trust Plan was established in 1970 by
Regulation 794 under The Securities Act, 1966, 5.0. 1966, c.142 in
respect of certain securities dealers, mutual fund dealers and
scholarship plan dealers.  The Plan provides that any client of a
Participant who suffers a loss in the course of their dealings with
the Participant may make a claim against the Plan and will be
eligible for compensation of up to C$5,000 out of the capital of
the Trust Fund if they meet the criteria set out in Article V of
the Terms of Plan (as amended from time to time, the "Plan Terms").
Section 5.01 of the Plan Terms, limits a claim to the direct
out-of-pocket loss suffered by a person who was a bona fide client
of a Participant at the time the liability duty or obligation was
first incurred by such a Participant in respect of which such loss
thereafter arose, and such loss shall have arisen either due to,

     (i) the failure of a Participant to refund any payment
received from a client for a security ordered by and not delivered
as directed by that client, or to pay as directed by a client funds
received by such Participant in connection with the sale of a
security on behalf of that client, or

    (ii) any conversion of funds or securities of such a client
while in the hands of or under the control of the Participant or by
or on behalf of or for the benefit of the Participant or a partner,
director, or shareholder of the Participant, but only to the extent
the Participant does not have a bond or insurance providing for
payment in respect of such conversion.

The Plan is one of three compensation funds or contingency trust
funds that have been approved by the Ontario Securities Commission
under the Securities Act (Ontario) (the "Act"). The other two are
established by self-regulatory organizations with their own
investor protection fund and, as a result, most Participants, other
than Exempt Market Dealers (who are not required to participate in
a compensation fund), are now either members of Investment Industry
Regulatory Organization of Canada (non-exempt securities dealers)
and, as a result, are covered by the Canadian Investor Protection
Fund or are members of the Mutual Fund Dealers Association of
Canada (mutual fund dealers) and, as such, are covered by the MFDA
Investor Protection Corporation.

Section 5.01 of the Plan Terms further provides that no claim shall
be eligible for payment under the Plan to the extent that the
amount of such claim is in excess of C$5,000, and any amount
received by a client in payment of any loss giving rise to such
claim otherwise than out of the Trust Fund, including any amount
received from the Canadian Investor Protection Fund or the MFDA
Investor Protection Corporation, or any dividends received in
connection with a bankruptcy or receivership proceeding relating to
a Participant, shall be applied to reduce the maximum amount of
C$5,000.

     BNY Trust Company of Canada,
        as Attorney for CIBC Mellon Trust Company,
        agent for National Trust Company, trustee of the
        Ontario Contingency Trust Plan
     320 Bay Street, 11th Floor
     Toronto, Ontario M5H 4A6
     Attention: Mark Wright
     Tel: (416) 933-8533
     Fax: (416) 360-1711
     Email: Mark.Wright@BNYMellon.com


BUDD COMPANY: Future Asbestos Claimants Representative Not Needed
-----------------------------------------------------------------
The Official Committee of Asbestos Personal Injury Claimants in The
Budd Company, Inc.'s case ("Asbestos Committee") sought and
obtained from Jack B. Schmetterer the U.S. Bankruptcy Court for the
Northern District of Illinois, Eastern Division, the entry of an
order dispensing with the appointment of a representative for
future asbestos claimants of the Debtor.

"The Asbestos Committee represents the interests of all of the
Debtor's known asbestos claimants, including any known holders of
insured and uninsured asbestos-related personal injury claims.  Any
future claimant will either hold an insured or uninsured
asbestos-related personal injury claim and will receive the same
treatment under the Plan as known holders of such claims and, thus,
their interests are adequately represented by the Asbestos
Committee...  The Asbestos Committee, after consultation with its
asbestos liability consultant, is informed and believes that the
funding of the Uninsured Asbestos Claim Fund in the manner
prescribed by the Debtor's Plan is adequate to compensate holders
of Uninsured Asbestos Claims in a manner consistent with the
treatment of the Debtor's other general unsecured creditors...
Indeed, at the March 11, 2016 omnibus hearing in this Case, Ms.
Gleason of the Office of the United States Trustee indicated that
she believed that the Asbestos Committee adequately represents the
interests of holders of Uninsured Asbestos Claims," the Asbestos
Committee averred.

The Official Committee of Asbestos Personal Injury Claimants is
represented by:

          Joseph D. Frank, Esq.
          Reed Heiligman, Esq.
          FRANKGECKER LLP
          325 North LaSalle Street, Suite 625
          Chicago, IL 60654
          Telephone: (312)276-1400
          Facsimile: (312)276-0035
          E-mail: jfrank@fgllp.com
                  rheiligman@fgllp.com

                      About The Budd Company

The Budd Company, Inc., a former supplier to the automotive
industry, filed for chapter 11 bankruptcy protection (Bankr. N.D.
Ill. Case No. 14-11873) on March 31, 2014, with a deal to settle
potential claims against its parent, ThyssenKrupp AG.

The company -- which ceased manufacturing operations in 2006 and
does not have any current employees, facilities or customers --
has
obligations consisting largely of medical and other benefits to
approximately 10,000 former employees.

Liabilities amount to approximately $1 billion with assets of
approximately $400 million.  Most of the debt consists largely of
medical and other benefits to approximately 10,000 former
employees.

The Debtor disclosed $387,555,681 in assets and $1,107,350,034 in
liabilities as of the Chapter 11 filing.

The Hon. Jack B. Schmetterer oversees the case.  The Debtor has
tapped Proskauer Rose LLP as Chapter 11 counsel, Dickinson Wright
PLLC as special counsel, Epiq Bankruptcy Solutions, LLC as
noticing, claims and balloting agent, and Conway MacKenzie
Management Services, LLC's Charles M. Moore as CRO.

The U.S. Trustee appointed five individuals to serve on the
Committee of Executive & Administrative Retirees.  The Segal
Company (Eastern States), Inc. serves as the Committee's actuarial
consultant.  The Committee retained Solic Capital Advisors, LLC as
its financial advisor.

Reed Heiligman, Esq., at FrankGecker LLP, in Chicago, Illinois,
represents the ad hoc committee of asbestos personal injury
claimants.



BUILDERS FIRSTSOURCE: Reports First Quarter 2016 Results
--------------------------------------------------------
Builders FirstSource, Inc., reported a net loss of $16.98 million
on $1.39 billion of sales for the three months ended March 31,
2016, compared to a net loss of $7.07 million on $371 million of
sales for the same period in 2015.

As of March 31, 2016, Builders Firstsource had $2.84 billion in
total assets, $2.71 billion in total liabilities and $134 million
in total stockholders' equity.

Commenting on the first quarter results, Builders FirstSource CEO
Floyd Sherman remarked, "I am pleased to report that we grew net
sales by 9 percent and Adjusted EBITDA by almost 200 percent, or
$41 million, in the quarter on a Pro Forma Adjusted basis versus
prior year.  We were able to achieve these positive results despite
an estimated $86 million negative impact of commodity deflation on
our sales.  In addition, sales in our value-added categories of
prefabricated components, windows & doors, and millwork grew 14
percent versus pro forma 2015.  Absent commodity deflation, our new
residential construction sales volume grew 16 percent in the first
quarter and repair and remodel volume grew by 15 percent. From a
single-family housing starts perspective, the Census Bureau
reported actual first quarter 2016 national starts increased 22.2
percent, however, completions only increased 16.7 percent compared
to the first quarter of 2015."

Chad Crow, Builders FirstSource President and CFO, commented, "We
produced another quarter of strong Adjusted EBITDA, totaling $61.8
million.  We continue to grow our business in a profitable manner,
as evidenced by the approximately 90 basis point expansion in our
gross margin percentage and the approximately 280 basis point
Adjusted EBITDA margin growth we achieved this quarter relative to
prior year Pro Forma results.  The company was able to realize $17
million of synergy savings in the quarter before one-time costs to
implement, in line with our previous guidance.  We also reduced our
net debt / Adjusted EBITDA ratio by over half a turn in the quarter
and one turn since the third quarter of 2015, from 6.5x to 5.5x net
debt/Adjusted Pro Forma EBITDA on a trailing 12 months basis.
While we expect to continue to borrow under our revolving credit
facility for seasonal working capital and other operating needs,
cash flow in the quarter was in line with our full year guidance
and we expect to pay down additional debt in 2016.  We are
executing on our multi-year plan to de-lever the balance sheet
through cost savings realization, earnings expansion, disciplined
capital expenditures, utilization of our tax assets, and
opportunistic capital markets transactions."

Mr. Sherman commented, "Our integration efforts are progressing
well, with the combined company operating effectively as one,
providing best in class service to our customers and delivering on
our business objectives.  Ten months after the acquisition of
ProBuild, the transaction is already producing significant value.
As of March 31, 2016, we have implemented cost savings initiatives
that are projected to yield approximately $65-70 million in run
rate savings, including $12-14 million in projected procurement
initiatives, $7-8 million in projected network consolidation
savings, and $46-48 million in projected overhead and SG&A savings.
We realized $17 million in savings in the first quarter, an
increase of $7 million over the fourth quarter of 2015, before
one-time expenses.  We have a defined roadmap to achieve $100-120
million of cost savings within two years of the Closing Date.
Approximately $49 million of the projected $90-100 million of
one-time costs to achieve the projected synergy targets have
already been incurred through March 31, 2016, and an additional $25
million is expected during the balance of 2016."

Mr. Sherman added, "We have created a more diversified company with
enhanced scale and an improved geographic footprint, which allows
for better customer reach and less exposure to any one market.
With operations in 40 states, and 23 percent of our sales
attributed to the repair and remodel end market, we believe we have
also reduced cyclicality through broader sales exposure."

Mr. Crow commented further, "I am very pleased with the progress we
have made to date on integrating our company.  All aspects of the
integration, including system conversions, G&A rationalization,
procurement negotiations, and facility consolidations, are in full
swing and are progressing as planned. We plan to migrate 88
locations onto our Builder's proprietary ERP system by the end of
2016, and to date we have completed 25 conversions with minimal
disruptions or issues We have also closed all but one of the
planned overlapping locations."

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

                         http://is.gd/MYeoZd

                     About Builders FirstSource

Headquartered in Dallas, Texas, Builders FirstSource --
http://www.bldr.com/-- is a supplier and manufacturer of
structural and related building products for residential new
construction.  The Company operates 56 distribution centers and 56
manufacturing facilities in nine states, principally in the
southern and eastern United States.  Manufacturing facilities
include plants that manufacture roof and floor trusses, wall
panels, stairs, aluminum and vinyl windows, custom millwork and
pre-hung doors.  Builders FirstSource also distributes windows,
interior and exterior doors, dimensional lumber and lumber sheet
goods, millwork and other building products.

Builders Firstsource reported a net loss of $22.8 million on $3.56
billion of sales for the year ended Dec. 31, 2015, compared to net
income of $18.2 million on $1.60 billion of sales for the year
ended Dec. 31, 2014.

                           *     *     *

As reported by the TCR on July 15, 2015, Standard & Poor's Ratings
Services said it raised its corporate credit rating on Builders
FirstSource Inc. to 'B+' from 'B'.  

"The stable outlook reflects our view that Builders FirstSource
will continue to increase sales and EBITDA as U.S. residential
construction continues to recover from an historic downturn and the
company realizes significant synergies from the merger.  As a
result, we expect some improvement in the company's leverage
measures over the next 12 to 24 months while it maintains adequate
liquidity," said Standard & Poor's credit analyst Pablo Garces.

In the May 13, 2014, edition of the TCR, Moody's Investors Service
upgraded Builders FirstSource's Corporate Family Rating to 'B3'
from 'Caa1'.  The upgrade reflects Moody's expectation that BLDR's
operating performance will continue to benefit from improved
housing construction, repair and remodeling.


CAESARS ENTERTAINMENT: Chief Commercial Officer Resigns
-------------------------------------------------------
Mr. Tariq Shaukat previously informed Caesars Entertainment
Corporation that he was contemplating relocating outside of Las
Vegas, Nevada for personal family reasons and that, as a result, he
intended to pursue employment elsewhere.  

On May 1, 2016, Mr. Shaukat provided notice of his resignation from
his position as executive vice president and chief commercial
officer of Caesars Entertainment Corporation effective May 31,
2016, according to a Form 8-K report filed with the Securities and
Exchange Commission.

                  About Caesars Entertainment

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

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

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

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

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

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

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

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


CAESARS ENTERTAINMENT: Reports $308M Net Loss for First Quarter
---------------------------------------------------------------
Caesars Entertainment Corporation filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing a
net loss attributable to the Company of $308 million on $1.16
billion of net revenues for the three months ended March 31, 2016,
compared to net income attributable to the Company of $6.77 billion
on $1.25 billion of net revenues for the same period in 2015.

As of March 31, 2016, Caesars had $12.1 billion in total assets,
$10.2 billion in total liabilities and a total stockholders' equity
of $1.94 million.

"Enterprise-wide, including CEOC, we delivered all-time record
adjusted EBITDA margins in the first quarter of 2016.  Adjusted
EBITDA margins improved over 200 basis points due to higher
hospitality revenue growth, particularly in lodging, where we are
investing in an upgraded room product, and increased average
revenue per user in Caesars Interactive Entertainment.
Additionally, we continue to demonstrate improved execution
discipline and to deliver quantifiable savings on our efficiency
initiatives," said Mark Frissora, president and CEO of Caesars
Entertainment.

"Our focus on driving margin and cash flow improvements while
maintaining high levels of customer satisfaction and employee
engagement has enhanced our financial performance.  As we continue
to execute on our cornerstone initiatives, we believe this provides
a solid foundation to create long-term value for our stakeholders,"
concluded Frissora.

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

                       http://is.gd/Sd9zG4

                   About Caesars Entertainment

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

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

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

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

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

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

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

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


CAPITOL LAKES: Court Values Banks’ Claims at $36-Mil.
-------------------------------------------------------
Hon. Robert D. Martin of the U.S. Bankruptcy Court for the Western
District of Wisconsin determines the value of the collateral
securing Santander Bank, N.A., and KBC Bank, N.V.'s claims against
Capital Lakes Inc. at $36,000,000.

The Troubled Company Reporter earlier said that the Debtor
requested the Bankruptcy Court to enter an order establishing the
value of the banks' collateral for the purposes of confirmation of
the Debtor's Plan at $32,000,000, and determining the value of the
secured claims of Santander Bank and KBC Bank.

The Banks appeal from the Order of the Court entered on April 7,
2016, setting the value of the collateral securing the Banks'
claims at $36 million.

KBC Bank, N.V. is represented by:

       Vincent J. Marriott, III, Esq.
       BALLARD SPAHR LLP
       1735 Market Street, 51st Floor
       Philadelphia, PA 19103
       Telephone: (215) 864-8236
       Email: marriott@ballardspahr.com
  
       -- and --  

       Daniel J. McGarry, Esq.
       WHYTE HIRSCHBOECK DUDEK S.C.
       P.O. Box 1379
       Madison, WI 53701-1379
       Telephone: (608) 234-6046
       Email: dmcgarry@whdlaw.com  

Santander Bank, N.A. is represented by:

       John Robert Weiss, Esq.
       DUANE MORRIS LLP
       190 South LaSalle Street, Suite 3700
       Chicago, IL 60603-3433
       Telephone: (312) 499-0148
       Email: jrweiss@duanemorris.com
       
       -- and --  
       
       Daniel J. McGarry, Esq.
       WHYTE HIRSCHBOECK DUDEK S.C.
       P.O. Box 1379
       Madison, WI 53701-1379
       Telephone: (608) 234-6046
       Email: dmcgarry@whdlaw.com

             About Capitol Lakes

Capitol Lakes Inc. owns and operates a continuing care retirement
community ("CCRC") located in Madison, Wisconsin. The CCRC is
comprised of: (i) an urban high rise containing 105 independent
living units (the "Heights"), (ii) an apartment building containing
52 additional independent living units (the "Main Gate"), (iii) an
assisted living residential facility containing 43 assisted living
units (the "Terraces"), of which 39 are single occupancy and 4 are
available for double occupancy, (iv) a skilled nursing facility
with 85 active skilled nursing beds licensed by the Wisconsin
Department of Health and Family Services and certified to
participate in the Medicare and Medicaid programs (the "Health
Center"), all located on a site of approximately 3.814 acres of
land owned by Capitol Lakes located in the heart of downtown
Madison, Wisconsin.

On Jan. 20, 2016, Capitol Lakes filed a Chapter 11 bankruptcy
petition (Bankr. W.D. Wisc. Case No. 16-10158). The case is
assigned to Judge Robert D. Martin.

As of Dec. 31, 2015, on a book value basis, Capitol Lakes has $57.6
million in assets and $104.2 million in liabilities.

The Debtor has tapped DLA Piper LLP as its legal counsel, and Cain
Brothers & Company LLC as its financial advisor.

The Office of the U.S. Trustee appointed seven creditors to the
official committee of unsecured creditors. They are Margaret
Barker, John Burkhalter, Geri Dickson, Sally Drew, Patrick J.
Holzem, Judith Snyderman and M. Crawford Young. Murphy Desmond S.C.
represents the committee.


CHC GROUP: Files Chapter 11 Petition to Facilitate Restructuring
----------------------------------------------------------------
CHC Group on May 5 disclosed that the Company and certain of its
wholly-owned subsidiaries have filed voluntary petitions for relief
under Chapter 11 of the United States Bankruptcy Code in the United
States Bankruptcy Court for the Northern District of Texas to
facilitate the restructuring of its balance sheet and fleet, and
position the Company for long-term success.  The reorganization is
expected to strengthen CHC's financial position by reducing
long-term debt and enhancing financial flexibility while allowing
the Company to manage and operate its fleet of aircraft.

CHC expects day-to-day operations to continue without interruption
throughout the court-supervised restructuring process.  The Company
expects to maintain sufficient liquidity throughout the
restructuring process to maintain its continuing business
operations.

Karl Fessenden, President and Chief Executive Officer:

"CHC continues to be a strong company operationally and we remain
fully committed to delivering safe and reliable service to our
customers.  Importantly, normal business operations will continue.
The step we have taken [Thurs]day provides an orderly path to
enhance our financial flexibility and establish a competitive
capital and operating structure that will allow us to invest in and
grow CHC's business over the long-term.  We remain committed to
maintaining our position as a world class helicopter service
provider -- one that continues to set the standard for safety,
customer service and value across the industry.  We thank our
customers and suppliers for their ongoing support as well as our
employees for their continued dedication."

Like many companies in the oil and gas industry, CHC's operations
have been significantly affected by the dramatic decline in oil
prices since their peak in 2014 and general uncertainty in the
energy market, which has led to decreased customer demand and an
increase in idle aircraft.  Despite significant efforts to reduce
costs, these factors, coupled with CHC's debt and aircraft lease
obligations, resulted in the Company's decision to engage advisors
to assist in evaluating strategic alternatives to improve its
capital structure.  CHC and its advisors determined a
court-supervised reorganization process provides the best and most
efficient way to align the Company's debt, lease and interest costs
with customer demand in the current operating environment, and
position CHC for long-term success.

The Company also disclosed that it has filed certain "first-day"
motions with the court to facilitate operating in the normal course
throughout the court-supervised restructuring process.

Seabury Advisors, PJT Partners and CDG Group are serving as
financial advisors to the Company and Weil, Gotshal & Manges LLP
and Debevoise & Plimpton LLP are serving as its legal advisors.

Headquartered in Canada, CHC Group Ltd. -- http://www.chc.ca-- is
a commercial operator of helicopters.  The Company provides
helicopter transportation services to the oil and gas industry. The
Company operates in two segments: Helicopter Services and Heli-One.
The Helicopter Services segment consists of flying operations in
the Eastern North Sea, the Western North Sea, the Americas, the
Asia Pacific region and the Africa-Euro Asia region serving its
offshore oil and gas customers, and providing search and rescue
(SAR) and emergency medical services (EMS) to government agencies.
The Heli-One segment includes helicopter maintenance, repair and
overhaul facilities in Norway, Poland, Canada and the United
States, providing helicopter maintenance, repair and overhaul
services for its fleet and for an external customer base in Europe,
Asia and North America.


CHC GROUP: Moody's Cuts PDR to 'D-PD' to Bankruptcy Filing
----------------------------------------------------------
Moody's Investors Service downgraded CHC Group Ltd.'s Probability
of Default Rating (PDR) to D-PD from Ca-PD. This action follows
CHC's announcement that it, along with its wholly-owned subsidiary
CHC Helicopter S.A., filed voluntary petitions for relief under
Chapter 11 of the United States Bankruptcy Code in the U.S.
Bankruptcy Court for the Northern District of Texas, to facilitate
the restructuring of its balance sheet and fleet. CHC's and CHC
Helicopter S.A.'s other ratings were unchanged. The outlook remains
negative.

Shortly following this rating action, Moody's will withdraw all
ratings for the company consistent with Moody's practice for
companies operating under the purview of the bankruptcy courts
wherein information flow typically becomes much more limited.

Downgrades:

Issuer: CHC Group Ltd.

-- Probability of Default Rating, Downgraded to D-PD from Ca-PD

Outlook Actions:

Issuer: CHC Group Ltd.

-- Outlook, Remains Negative

RATINGS RATIONALE

The downgrade of CHC's PDR to D-PD is a result of the bankruptcy
filing, announced on May 5, 2016. On April 15, 2016, CHC elected to
skip interest payments due on its senior secured notes due 2020,
entering the 30-day grace period allowed under the notes
indentures.

CHC, headquartered in Vancouver, British Columbia, is a significant
provider of helicopter services to the global offshore exploration
and production industry with operations in approximately 30
countries.


CHICAGOLAND'S MEDICAL: Case Summary & 20 Top Unsecured Creditors
----------------------------------------------------------------
Debtor: Chicagoland's Medical Services Organization, LLC
        4415 W. Harrison, Suite 300
        Hillside, IL 60162

Case No.: 16-15403

Chapter 11 Petition Date: May 5, 2016

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

Judge: Hon. Timothy A. Barnes

Debtor's Counsel: Paul B Porvaznik, Esq.
                  DAVIS MCGRATH LLXC
                  125 S. Wacker Drive, Suite 1700
                  Chicago, IL 60606
                  Tel: 312-332-3033
                  Fax: 312-332-6376
                  E-mail: pporvaznik@davismcgrath.com

                    - and -

                  David K Welch, Esq.
                  CRANE, HEYMAN, SIMON, WELCH & CLAR
                  135 S Lasalle St, Suite 3705
                  Chicago, IL 60603
                  Tel: 312 641-6777
                  Fax: 312 641-7114
                  E-mail: dwelch@craneheyman.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Damon Morse, manager.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-15403.pdf


CLAIRE'S STORES: Beatrice Lafon Quits as CEO
--------------------------------------------
Beatrice Lafon resigned from her position as the chief executive
officer of Claire's Stores, Inc., and from the Company's Board of
Directors effective May 5, 2016.

In connection with her resignation, Ms. Lafon will be entitled to
benefits provided for under her Employment Agreement with
Claire’s Stores, Inc., dated April 2, 2014, in the case of a
termination without cause.  Her resignation from the Board was not
due to any disagreement with the Company known to any executive
officer of the Company on any matter relating to the Company's
operations, policies or practices.

On May 5, 2016, the Company announced the appointment of Ron
Marshall as chief executive officer.  Mr. Marshall has previously
served and will continue to serve as a member of the Board of
Directors of the Company; however, he will no longer serve on the
Audit Committee of the Board.

Mr. Marshall has served as a member of the Company's Board of
Directors since December 2007.  Mr. Marshall has served as
President and chief executive officer of The Great Atlantic &
Pacific Tea Company, a supermarket store chain, from February 2010
through July 2010.  From January 2009 until January 2010, Mr.
Marshall was president and chief executive officer, and director of
Borders Group Inc., a national bookseller.  In February 2011,
Border's Group filed a voluntary petition under Chapter 11 of the
U.S. Bankruptcy Code, which was converted to a liquidation in
December 2011.  From 1998 to 2006, Mr. Marshall served as Chief
Executive Officer of Nash Finch Company, a U.S. wholesale food
distributor, and was a member of its Board of Directors.  Prior to
joining Nash Finch, Mr. Marshall served as chief financial officer
of Pathmark Stores, Inc., a supermarket store chain, Dart Group
Corporation, owner of retail discount stores, Barnes & Noble
Bookstores, Inc., NBI's The Office Place, an office supplies
retailer, and Jack Eckerd Corporation, a drug store chain. Mr.
Marshall has also been a principal of Wildridge Capital Management,
an investment and advisory firm, since 2006.  Mr. Marshall is a
certified public accountant.

Mr. Marshall is not party to any transactions with the Company
required to be disclosed by Item 404(a) of Regulation S-K.

In connection with his appointment as chief executive officer, Mr.
Marshall and the Company entered in an employment agreement dated
as of May 5, 2016.  Pursuant to the terms thereof, Mr. Marshall
will receive an annual base salary of $900,000 and, in lieu of
participation in 2016 and subsequent years in the Company's annual
bonus incentive plan, an option for 200,000 shares of the common
stock of Claire's, Inc., the corporate parent of the Company, that
will be immediately vested upon grant.  In addition, Mr. Marshall
will also be granted 600,000 options that will vest at the rate of
25% per year subject to continued employment.

In the event Mr. Marshall's employment is terminated by the Company
without cause or by him for good reason, Mr. Marshall would also be
entitled to receive a severance payment equal to 12 months of his
base salary and reimbursement for premiums for continued health
benefits for the length of the severance period.

Mr. Marshall is also subject to customary restrictive covenants,
such as non-competition, non-solicitation and non-disclosure,
during his employment and for the greater of the period during
which Mr. Marshall receives severance payments or a period of 12
months following the termination of his employment.

                     About Claire's Stores

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores also operates through its subsidiary,
Claire's Nippon, Co., Ltd., 213 stores in Japan as a 50:50 joint
venture with AEON, Co., Ltd.  The Company also franchises 198
stores in the Middle East, Turkey, Russia, South Africa, Poland
and Guatemala.

Claire's Stores reported a net loss of $236.43 million on $1.40
billion of net sales for the fiscal year ended Jan. 30, 2016,
compared to a net loss of $211.97 million on $1.49 billion of net
sales for the fiscal year ended Jan. 31, 2015.  As of Jan. 30,
2016, Claire's Stores had $2.21 billion in total assets, $2.79
billion in total liabilities and a $580.24 million
stockholders' deficit.

                           *     *     *

As reported by the TCR on April 13, 2015, Moody's Investors
Service downgraded Claire's Corporate Family Rating (CFR) to
Caa2 from Caa1.  The downgrade of Claire's ratings reflect
continued weak operating performance and deterioration of its
liquidity profile.

The TCR reported in April 2015 that Standard & Poor's Ratings
Services lowered its corporate credit rating on Claire's Stores
Inc. to 'CCC' from 'B-'.  "The rating action reflects our belief
that Claire's could violate its financial covenant under its
revolving credit facility in the upcoming quarters, given
continuously weak operating trends," said credit analyst Mariola
Borysiak.


CLAIRE'S STORES: Inks Exchange Pacts with Apollo Funds
------------------------------------------------------
Claire's Stores, Inc., entered into two Exchange Agreements, dated
as of May 4, 2016, with certain funds managed by affiliates of
Apollo Global Management, LLC, pursuant to which the Company
exchanged (i) $174.4 million aggregate principal amount of its
10.50% Senior Subordinated Notes due 2017 held by the Apollo Funds,
for (ii) $174.4 million aggregate principal amount of its
newly-issued 10.50% PIK Senior Subordinated Notes due 2017.  The
Existing Subordinated Notes had been acquired by the Apollo Funds
in open market transactions.  The Company has caused all $174.4
million aggregate principal amount of the acquired Existing
Subordinated Notes to be cancelled.  The Apollo Funds are the
indirect controlling shareholders of the Company.

The New PIK Subordinated Notes were issued pursuant to an
Indenture, dated as of May 4, 2016, entered into by the Company,
the Guarantors named therein and The Bank of New York Mellon Trust
Company, N.A., as Trustee.  The terms of the New PIK Subordinated
Notes are substantially the same as those of the Existing
Subordinated Notes except that interest, which accrues at 10.50%
per annum from Dec. 1, 2015, will be paid-in-kind with respect to
the June 1, 2016, interest payment and may be PIK, paid in cash or
paid 50% cash/50% PIK with respect to the Dec. 1, 2016, interest
payment.  Interest on the New PIK Subordinated Notes and the
Existing Subordinated Notes is payable semi-annually in June and
December.  The New PIK Subordinated Notes and the Existing
Subordinated Notes will mature June 1, 2017.

The New PIK Subordinated Notes rank pari passu with the Existing
Subordinated Notes, and both series are subordinated to all senior
indebtedness of the Company and the Guarantors.

The Indenture has substantially the same terms as the indenture
governing the Existing Subordinated Notes (other than with respect
to PIK interest as discussed above) and includes customary defaults
and covenants that, among other things, subject to certain
exceptions and basket amounts, restrict the ability of the Company
and its restricted subsidiaries to:

  * incur additional indebtedness;

  * pay dividends or distributions on capital stock, repurchase or
    retire capital stock and redeem, repurchase or defease any
    subordinated indebtedness;

  * make certain investments;

  * create or incur certain liens;

  * create restrictions on the payment of dividends or other
    distributions from subsidiaries;

  * transfer or sell assets;

  * engage in certain transactions with affiliates; and

  * merge or consolidate with other companies or transfer all or
    substantially all of the Company's assets.

The New PIK Subordinated Notes (and the Existing Subordinated
Notes) may, subject to restrictions contained in the Company's
other debt agreements, be redeemed at par at any time.

With respect to the Company's issuance of $174.4 million aggregate
principal amount of New PIK Subordinated Notes in exchange for
$174.4 million aggregate principal amount of the Company's Existing
Subordinated Notes.

A full-text copy of the Form 8-K is available for free at:

                        http://is.gd/U17o6V

                       About Claire's Stores

Claire's Stores, Inc. -- http://www.clairestores.com/-- operates
as a specialty retailer of fashion accessories and jewelry for
preteens and teenagers, as well as for young adults in North
America and internationally.  It offers jewelry products that
comprise costume jewelry, earrings, and ear piercing services; and
accessories, including fashion accessories, hair ornaments,
handbags, and novelty items.

Based in Pembroke Pines, Florida, Claire's Stores operates under
two brands: Claire's(R), which operates worldwide and Icing(R),
which operates only in North America.  As of Jan. 31, 2009,
Claire's Stores, Inc., operated 2,969 stores in North America and
Europe.  Claire's Stores also operates through its subsidiary,
Claire's Nippon, Co., Ltd., 213 stores in Japan as a 50:50 joint
venture with AEON, Co., Ltd.  The Company also franchises 198
stores in the Middle East, Turkey, Russia, South Africa, Poland
and Guatemala.

                           *     *     *

As reported by the TCR on April 13, 2015, Moody's Investors
Service downgraded Claire's Corporate Family Rating (CFR) to
Caa2 from Caa1.  The downgrade of Claire's ratings reflect
continued weak operating performance and deterioration of its
liquidity profile.

The TCR reported in April 2015 that Standard & Poor's Ratings
Services lowered its corporate credit rating on Claire's Stores
Inc. to 'CCC' from 'B-'.  "The rating action reflects our belief
that Claire's could violate its financial covenant under its
revolving credit facility in the upcoming quarters, given
continuously weak operating trends," said credit analyst Mariola
Borysiak.


CLAYTON B. OBERSHEIMER: Case Summary & 5 Unsecured Creditors
------------------------------------------------------------
Debtor: Clayton B. Obersheimer, Inc.
           dba CBO Glass
        162 Colgate Avenue
        Buffalo, NY 14220

Case No.: 16-10901

Chapter 11 Petition Date: May 5, 2016

Court: United States Bankruptcy Court
       Western District of New York (Buffalo)

Judge: Hon. Carl L. Bucki

Debtor's Counsel: Arthur G. Baumeister, Jr., Esq.
                  AMIGONE, SANCHEZ & MATTREY LLP
                  1300 Main Place Tower
                  350 Main Street
                  Buffalo, NY 14202
                  Tel: (716) 852-1300
                  Email: abaumeister@amigonesanchez.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by Paul F. Hogan, Jr., chairman.

A list of the Debtor's 5 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nywb16-10901.pdf


COLUMBIA HOSPITALITY: Can Use Cash Until Plan Confirmation
----------------------------------------------------------
Honorable Dennis R. Dow of the U.S. Bankruptcy Court, Western
District of Missouri, Central Division, authorizes Columbia
Hospitality Services, Inc., to use Cash Collateral for operating
expenses from the date of the Order to the date of confirmation of
the Debtor's plan or dismissal.

As reported earlier by the Troubled Company Reporter, the Debtor,
owner of a hotel located at 2904 Clark Lane, in Columbia, Missouri,
known as Best Western Hotel, submitted a motion with the Bankruptcy
Court seeking permission to use cash collateral from income of its
hotel operations… Private Capital Group, Inc. asserts blanket
security interests in the assets of the Debtor, including the cash
receipts.  As adequate protection, the Debtor proposes to provide
Private Capital $18,230 per month plus any additional amount which
would guarantee Private Capital a minimum of 20 percent of the
gross each month, commencing May 1, 2016, until such time as the
Debtor has a confirmed plan.

Pacific Capital Group complains that the Debtor's Motion fails to
specifically provide the details associated with certain monthly
sales and city taxes as well as substantial capital expenditures
required by the franchisor Best Western and the source of payment
for such expenses for all of which are not included in the proposed
budget and appear to be in a substantial amount that will render
the existing budget unworkable.

The Parties agreed to a monthly expense cap of $69,000, and an
additional expense exceptions in an aggregate amount not to exceed
$10,000 for the expenditures required to be paid by the Debtor for
sales, including capital improvements required to be incurred by
Best Western, and city tax.

The Debtor is directed to pay adequate protection payments to
Private Capital Group of $37,500 per month beginning May 15, 2016,
and also required to provide monthly report on actual revenue and
expenses, showing the extent of deviation from the projected
expenses in the budget, beginning with the report due on May 20.

A full-text copy of the Cash Collateral Order dated April 27, 2016
is available at http://is.gd/skjVlg

Private Capital Group, Inc. is represented by:

       Richard M. Beheler, Esq.
       SOUTHLAW, P.C.
       6363 College Blvd. Suite 100
       Overland Park, KS 66211
       Telephone: (913) 663-7600
       Facsimile: (913) 663-7899
       Email: Richard.Beheler@southlaw.com

              About Columbia Hospitality
   
Columbia Hospitality Services, LLC, operates a Best Western Hotel
located at 2904 Clark Lane, Columbia MO 65202, which has been
closed for sometime and is in the process of reopening.

Columbia Hospitality filed a Chapter 11 bankruptcy petition (Bankr.
W.D. Mo. Case No. 16-20272) on April 4, 2016.  George Pate signed
the petition as president/secretary.  The Debtor listed total
assets of $11.9 million and total liabilities of $9.71 million.


COMSTOCK MINING: Incurs $4.05 Million Net Loss in First Quarter
---------------------------------------------------------------
Comstock Mining Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $4.05 million on $2.02 million of total revenues for the three
months ended March 31, 2016, compared to net income of $1.28
million on $6.03 million of total revenues for the same period in
2015.

As of March 31, 2016, Comstock Mining had $42.63 million in total
assets, $22.8 million in total liabilities and $19.9 million in
total stockholders' equity.

Total current assets were $7.5 million at March 31, 2016, including
cash and cash equivalents of $3.6 million.  Inventories,
stockpiles, and mineralized material on leach pad totaled $1.0
million.
    
"Future production rates and gold prices below management's
expectations would adversely affect the Company's results of
operations, financial condition and cash flows.  Future asset sales
could also take longer than expected.  If the Company was unable to
obtain any necessary additional funds, this could have an immediate
material effect on liquidity and could raise substantial doubt
about the Company's ability to continue as a going concern.  In
such case, the Company could be required to limit or discontinue
certain business plans, activities or operations, reduce or delay
certain capital expenditures or sell certain assets or businesses.
There can be no assurance that the Company would be able to take
any of such actions on favorable terms, in a timely manner or at
all."

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

                      http://is.gd/QcTSC7

                     About Comstock Mining

Virginia City, Nev.-based Comstock Mining Inc. is a Nevada-based,
gold and silver mining company with extensive, contiguous property
in the historic Comstock district.  The Company began acquiring
properties in the Comstock District in 2003.  Since then, the
Company has consolidated a substantial portion of the Comstock
district, secured permits, built an infrastructure and brought the
exploration project into test mining production.  The Company
continues acquiring additional properties in the Comstock
district, expanding its footprint and creating opportunities for
exploration and mining.  The goal of the Company's strategic plan
is to deliver stockholder value by validating qualified resources
(measured and indicated) and reserves (probable and proven) of
3,250,000 gold equivalent ounces by 2013, and commencing
commercial mining and processing operations by 2011, with annual
production rates of 20,000 gold equivalent ounces.

Comstock Mining reported a net loss available to common
shareholders of $15.9 million on $18.5 million of total revenues
for the year ended Dec. 31, 2015, compared to a net loss available
to common shareholders of $13.3 million on $25.6 million of total
revenues for the year ended Dec. 31, 2014.


CORPORATE RESOURCE: Seeks Approval of Flex Stipulation
------------------------------------------------------
James S. Feltman, Chapter 11 Trustee for Corporate Resource
Services, Inc., asks the U.S. Bankruptcy Court for the Southern
District of New York to approve a settlement that he has entered
into with Flex Employee Services, LLC and Wells Fargo Bank,
National Association.

The Chapter 11 Trustee initiated an adversary proceeding against
Wells Fargo Bank seeking the turnover of certain funds then held by
Wells Fargo Bank, which Wells Fargo asserted it had a right to hold
under certain indemnity and other provisions in the Financing
Facility and applicable law.  The Court ordered the Wells Fargo
Stipulation, between Wells Fargo and the Chapter 11 Trustee,
resolving the adversary proceeding and memorializing an agreement
that resulted in, among other things, (i) the return of a portion
of the approximately $2.8 million in Excess Funds then held by
Wells Fargo; (ii) an agreement to allow Wells Fargo Bank to retain
$1.5 million of Wells Fargo Retained Cash Collateral as adequate
protection for its alleged security interest under the Financing
Facility; (iii) the creation of a Stipulation Reserve Account not
to exceed $1.5 million funded though the retention by the Trustee
of 15% of future monies collected and retained up to the first $10
million of such monies; (iv) acknowledges that Wells Fargo Bank was
holding approximately $1 million of unapplied cash collections
("OAP"); and (v) further acknowledges that a portion of such
unapplied cash collections relating to the customer accounts was
potentially the subject of dispute regard its ownership ("Disputed
OAP").

CRS Inc., one of its wholly-owned debtor subsidiaries, Insurance
Overload Services, Inc., and two of its non debtor wholly-owned
subsidiaries, Summit Software, Inc., and Nationwide Screening
Services, Inc., entered into an asset purchase agreement with Flex.
As part of the consideration for the assets purchased under the
Flex APA, Flex agreed to pay CRS $750,000 in the form of an
unsecured 36 month promissory note with an eight percent per annum
interest rate with principal and interest payments paid quarterly.
Flex is currently delinquent on the Flex Note and the Trustee
elected to accelerate amounts due under the Flex Note.

The Trustee, Flex, and Wells Fargo have determined that $596,009 of
the OAP held by Wells Fargo is attributable to Flex ("Flex OAP").

The Chapter 11 Trustee contends that he has entered into the
stipulation with Flex, resolving their dispute.  The Chapter 11
Trustee further contends that Wells Fargo has agreed to the
Stipulation.

The principal terms of the settlement stipulation are as follows:

     (a) Trustee Disavows Flex OAP Claim: The Trustee disavows any
claim, on behalf of the Debtors, to the Flex OAP and does not
dispute Flex's entitlement to the Flex OAP.

     (b) Satisfaction of the Flex Note: Flex agrees that the first
$257,500 out of the Flex OAP will be sent to the Trustee by Wells
Fargo in full satisfaction of the Flex Note under the Flex APA. The
remainder of the Flex OAP, in the amount of $338,509, will go to
Flex.  No later than 30 days from the date that the Stipulation is
"So Ordered" by the Court, Wells Fargo agrees to release the Flex
OAP in accordance with the Stipulation.

     (c) Release: Upon the entry of the Stipulation, Flex will be
deemed to have released, waived, and discharged, the Trustee,
Debtors Corporate Resource Services, Inc., et al., the Debtors'
estates, and Wells Fargo from any and all liabilities, obligations,
actions, suits, judgments, claims, causes of action and demands,
whether known or unknown, whatsoever at law or in equity arising
from, in connection with, or related to the OAP and the non-
payment of the Flex Note.  Exclusive of the specifically released
claims, each party to the Stipulation will retain any and all
claims, causes of action and demands, known or unknown, whatsoever
at law or in equity, including, but not limited to, any claims
pursuant to Chapter 5 of title 11, United States Code.

The Chapter 11 Trustee believes that the settlement embodied in the
stipulation is in the best interest of the Debtors' estates and
creditors for the following reasons:

     (1) The stipulation resolves the Chapter 11 Trustee's dispute
with Flex quickly, efficiently, and without the need to resort to
litigation, the cost of which could approach the amount currently
in dispute; and,

     (2) The agreement between the Chapter 11 Trustee and Flex was
achieved through arms'-length negotiations and has the acceptance
of Wells Fargo, the Debtors' pre-petition lender.

The Chapter 11 Trustee's Motion is scheduled for hearing on May 10,
2016 at 11:00 a.m.  The deadline for the submission of objections
to the Chapter 11 Trustee's Motion is set on May 3, 2016

James S. Feltman, Chapter 11 Trustee, is represented by:

          Albert Togut, Esq.
          Steven S. Flores, Esq.
          Jessica G. Berman, Esq.
          TOGUT, SEGAL & SEGAL LLP
          One Penn Plaza, Suite 3335
          New York, NY 10119
          Telephone: (212)594-5000

                About Corporate Resource Services

Corporate Resource Services, Inc., is a provider of corporate
employment and human resource solutions, headquartered in New
York.
CRS leases its headquarters and does not own any real property.
About 90% of CRS shares are owned by Robert Cassera and the
balance
are traded OTC.

As of Dec. 31, 2014, CRS was one of the largest employment
staffing
companies in the U.S., providing employment and human resources
solutions for corporations with annual sales of about one billion
dollars.  In February 2015, CRS began an orderly wind down of
operations after discovering that TS Employment, Inc., a privately
held company owned by Mr. Cassera, failed to remit tens of
millions
of dollars of  the Debtors' withholding taxes to taxing
authorities.

TS Employment Inc., a professional employer organization that
provided payroll-related services for CRS, sought Chapter 11
protection (Bankr. S.D.N.Y. Case No. 15-10243) in Manhattan on
Feb.
2, 2015.  TSE tapped Scott S. Markowitz, Esq., at Tarter Krinsky &
Drogin LLP, in New York, as counsel.  Realization  Services Inc.
serves as the Debtor's consultant.  The case is before Judge
Martin
Glenn.

CRS and its subsidiaries sought Chapter 11 protection (Bankr. D.
Del. Lead Case No. 15-11546) on July 23, 2015, to complete their
orderly wind down of operations.  The CRS Debtors tapped (a)
Gellert Scali Busenkell & Brown, LLC, as bankruptcy counsel, (b)
Wilmer Cutler Pickering Hale & Dorr LLP, as special counsel; (c)
Carter Ledyard & Milburn LLP, as special SEC counsel, (d) SSG
Capital Advisors as financial advisors and investment bankers, and
(e) Rust Omni LLC as claims agent.

CRS estimated $10 million to $50 million in assets and $50 million
to $100 million in debt.

The CRS Debtors' cases were transferred to New York (Bankr.
S.D.N.Y. Lead Case No. 15-12329), on August 18, 2015, and assigned
to Judge Martin Glenn.

James S. Feltman has been appointed as Chapter 11 trustee for the
CRS Debtors and for TS Employment, Inc.  He has tapped Togut,
Segal
& Segal LLP as counsel.


CROWN MEDIA: Deregisters Unsold Securities Under Plan
-----------------------------------------------------
Crown Media Holdings, Inc., filed with the Securities and Exchange
Commission a post-effective amendment No. 1 to its registration
statement on Form S-8 to deregister any and all securities that
remain unsold under the Registration Statement relating to the
offering of shares under the 2000 Long Term Incentive Plan.

On May 2, 2016, the Company completed the previously announced
merger pursuant to which CM Merger Co., a newly-formed Delaware
corporate subsidiary of Hallmark Cards, Incorporated, merged with
and into the Company, with the Company as the surviving
corporation.  As a result of the Merger, all of the shares of the
Company's Class A common stock, par value $0.01 per share, not
owned directly or indirectly by Hallmark or its affiliates were
converted into the right to receive $5.05 per Share in cash,
without interest.  As a result of the Merger, the Company became a
wholly owned subsidiary of Hallmark, and the Company terminated all
offers and sales of its securities registered pursuant to the
Registration Statement.

                        About Crown Media

Crown Media Holdings, Inc., is the corporate parent for the
portfolio of cable networks and related businesses under Crown
Media Family Networks.  The company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to 86 million subscribers in the U.S.
Hallmark Channel is the nation's leading destination for quality
family programming with an ambitious slate of TV movies and
specials; original scripted series, including Cedar Cove, When
Calls the Heart, and Signed, Sealed, Delivered; as well as some of
television's most beloved sitcoms and series.  Hallmark Channel's
sibling network, Hallmark Movie Channel, is available in 54
million homes in HD and SD. One of America's fastest-growing cable
networks, Hallmark Movie Channel provides family-friendly original
movies with a mix of original films, classic theatrical releases,
and presentations from the acclaimed Hallmark Hall of Fame
library.  In addition, Crown Media Family Networks includes the
online offerings of http://www.HallmarkChannel.com/and
http://www.HallmarkMovieChannel.com/      

Crown Media reported net income of $86.1 million on $479 million of
net total revenue for the year ended Dec. 31, 2015, compared to net
income of $94.5 million on $416 million of net total revenue for
the year ended Dec. 31, 2014.

As of March 31, 2016, Crown Media had $1.12 billion in total
assets, $516.28 million in total liabilities and $607.87 million in
total stockholders' equity.

                        Bankruptcy Warning

"If our operating performance declines, we may in the future need
to seek waivers from the required lenders under our 2015 Credit
Agreement to avoid being in default.  We cannot assure that such
waivers will be granted or that we will otherwise be able to avoid
a default.  If we are unable to generate sufficient cash flow and
are otherwise unable to obtain funds necessary to meet required
payments of principal, premium, if any, or interest on such
indebtedness, or if we otherwise fail to comply with the various
covenants, including financial and operating covenants, in the
instruments governing our indebtedness, including our 2015 Credit
Agreement, we could be in default under the terms of the agreements
governing such indebtedness.  In the event of such default, the
holders of such indebtedness could elect to declare all of the
funds borrowed thereunder to be due and payable, together with any
accrued and unpaid interest, the lenders under our 2015 Credit
Agreement could elect to terminate their commitments, cease making
further loans, foreclose on our assets pledged to such lenders to
secure our obligations under the 2015 Credit Agreement, in each
case, which could force us into voluntary or involuntary bankruptcy
or cause us to discontinue operations or seek a purchaser of our
business or assets.  In addition, a default under our 2015 Credit
Agreement would trigger a cross default under our other agreements
and could trigger a cross default under any agreements governing
our future indebtedness," the Company stated in its annual report
for the year ended Dec. 31, 2015.

                           *     *     *

As reported by the TCR on July 3, 2015, Standard & Poor's Ratings
Services said that it raised its corporate credit rating on Crown
Media Holdings Inc. to 'BB-' from 'B+'.  "The upgrade reflects
Crown Media's improved financial risk profile," said Standard &
Poor's credit analyst Naveen Sarma.

As reported by the TCR on July 2, 2014, Moody's Investors Service
upgraded the Corporate Family Rating (CFR) of Crown Media
Holdings, Inc. to B1 from B2, its Probability of Default Rating to
B1-PD from B2-PD, and instrument ratings.  The outlook is stable.
The upgrade incorporates evidence of traction with the original
programming strategy and better than expected performance, which,
combined with debt reduction, improved the credit profile.


CROWN MEDIA: Posts $31.2 Million Net Income for First Quarter
-------------------------------------------------------------
Crown Media Holdings, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $31.2 million on $124 million of net total revenue for the three
months ended March 31, 2016, compared to net income of $18.5
million on $101 million of net total revenue for the same period in
2015.

As of March 31, 2016, Crown Media had $1.12 billion in total
assets, $516 million in total liabilities and $608 million in total
stockholders' equity.

For the three months ended March 31, 2015, the Company's cash
provided by operating activities was $23.9 million as compared to
$67.5 million for the three months ended March 31, 2016.  The
increase in cash flows from operations was primarily driven by
improved financial results before consideration of noncash items,
including a $6.8 million increase of depreciation and amortization
expense for the three months ended March 31, 2016, as compared to
three months ended March 31, 2015.

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

                      http://is.gd/KgE2gt

                       About Crown Media

Crown Media Holdings, Inc., is the corporate parent for the
portfolio of cable networks and related businesses under Crown
Media Family Networks.  The company currently operates and
distributes Hallmark Channel in both high definition (HD) and
standard definition (SD) to 86 million subscribers in the U.S.
Hallmark Channel is the nation's leading destination for quality
family programming with an ambitious slate of TV movies and
specials; original scripted series, including Cedar Cove, When
Calls the Heart, and Signed, Sealed, Delivered; as well as some of
television's most beloved sitcoms and series.  Hallmark Channel's
sibling network, Hallmark Movie Channel, is available in 54
million homes in HD and SD. One of America's fastest-growing cable
networks, Hallmark Movie Channel provides family-friendly original
movies with a mix of original films, classic theatrical releases,
and presentations from the acclaimed Hallmark Hall of Fame
library.  In addition, Crown Media Family Networks includes the
online offerings of http://www.HallmarkChannel.com/and
http://www.HallmarkMovieChannel.com/      

Crown Media reported net income of $86.1 million on $479 million of
net total revenue for the year ended Dec. 31, 2015, compared to net
income of $94.5 million on $416 million of net total revenue for
the year ended Dec. 31, 2014.

                        Bankruptcy Warning

"If our operating performance declines, we may in the future need
to seek waivers from the required lenders under our 2015 Credit
Agreement to avoid being in default.  We cannot assure that such
waivers will be granted or that we will otherwise be able to avoid
a default.  If we are unable to generate sufficient cash flow and
are otherwise unable to obtain funds necessary to meet required
payments of principal, premium, if any, or interest on such
indebtedness, or if we otherwise fail to comply with the various
covenants, including financial and operating covenants, in the
instruments governing our indebtedness, including our 2015 Credit
Agreement, we could be in default under the terms of the agreements
governing such indebtedness.  In the event of such default, the
holders of such indebtedness could elect to declare all of the
funds borrowed thereunder to be due and payable, together with any
accrued and unpaid interest, the lenders under our 2015 Credit
Agreement could elect to terminate their commitments, cease making
further loans, foreclose on our assets pledged to such lenders to
secure our obligations under the 2015 Credit Agreement, in each
case, which could force us into voluntary or involuntary bankruptcy
or cause us to discontinue operations or seek a purchaser of our
business or assets.  In addition, a default under our 2015 Credit
Agreement would trigger a cross default under our other agreements
and could trigger a cross default under any agreements governing
our future indebtedness," the Company stated in its annual report
for the year ended Dec. 31, 2015.

                           *     *     *

As reported by the TCR on July 3, 2015, Standard & Poor's Ratings
Services said that it raised its corporate credit rating on Crown
Media Holdings Inc. to 'BB-' from 'B+'.  "The upgrade reflects
Crown Media's improved financial risk profile," said Standard &
Poor's credit analyst Naveen Sarma.

As reported by the TCR on July 2, 2014, Moody's Investors Service
upgraded the Corporate Family Rating (CFR) of Crown Media
Holdings, Inc. to B1 from B2, its Probability of Default Rating to
B1-PD from B2-PD, and instrument ratings.  The outlook is stable.
The upgrade incorporates evidence of traction with the original
programming strategy and better than expected performance, which,
combined with debt reduction, improved the credit profile.


CRYSTAL CATHEDRAL: Court Amends Ruling on R. Schuller Fees
----------------------------------------------------------
Judge Robert Kwan of the United States Bankruptcy Court for the
Central District of California, Los Angeles Division, ordered the
amendment of the Memorandum Decision and Order on Joint Motion of
Reorganized Debtor and Plan Agent for an Award of Costs and
Attorneys Fees as follows:

"The text on page 5, lines 13 to 25, is hereby amended by inserting
the words "the Copyright Claims of" before the word "Claimants" on
line 13 to read as follows:

     Here, the Copyright Claims of Claimants Robert H. Schuller,
Robert Harold Inc. and Arvella Schuller were objectively weak, if
not reasonable in fact or law, and thus, frivolous, because they
offered no credible evidence at trial in support of their Copyright
Claims as discussed in the Amended Memorandum Decision [Docket No.
1414] at 3-18, 26-39 (e.g., Robert Schuller admitting at trial that
he had no knowledge of any copyright infringement by Debtor of his
intellectual property, which he had given Debtor a broad license to
use, and Debtor owned the copyrights to Hour of Power intellectual
property, and that the uncontroverted evidence indicated that to
the extent that Robert Schuller and Arvella Schuller created any
Hour of Power intellectual property, it was created during the
scope of their employment with Debtor as works for hire). See
Federal Rule of Bankruptcy Procedure 9011(b)(3)."

A full-text copy of the Erratum to Memorandum Decision and Order
dated April 4, 2016 is available at http://is.gd/gl5n7pfrom
Leagle.com.

The case is In re: CRYSTAL CATHEDRAL MINISTRIES, a California
nonprofit corporation, Chapter 11, Debtor and Debtor-in-Possession,
Case No. 2:12-bk-15665-RK.

Crystal Cathedral Ministries, a California non-profit corporation,
Debtor, is represented by Kavita Gupta, Esq. -- Gupta Ferrer, LLP,
Jeannie Kim, Esq. -- jkim@winthropcouchot.com -- Winthrop Couchot
PC, G Emmett Raitt, Esq. -- The Raitt Law Firm, Nanette D Sanders,
Esq. -- Ringstad & Sanders, Marc J Winthrop, Esq. --
mwinthrop@winthropcouchot.com -- Winthrop Couchot PC.

United States Trustee (SA), U.S. Trustee, is represented by Frank
Cadigan.

Committee of Creditors Holding Unsecured Claims, Creditor
Committee, is represented by Christopher Minier, Esq. -- Ringstad &
Sanders LLP, Todd C. Ringstad, Esq. -- Ringstad & Sanders LLP.

                About Crystal Cathedral

Crystal Cathedral filed for Chapter 11 bankruptcy protection
(Bankr. C.D. Cal. 10-24771) on Oct. 18, 2010.  The Debtor
disclosed $72,872,165 in assets and $48,460,826 in liabilities as
of the Chapter 11 filing.  Marc J. Winthrop, Esq., at Winthrop
Couchot P.C. represents the Debtor.

Todd C. Ringstad, Esq., at Ringstad & Sanders, LLP, represents
the Official Committee of Unsecured Creditors.

In November 2011, Crystal Cathedral won Court permission to sell
its property to the Roman Catholic Diocese of Orange for $57.5
million.  The Diocese beat a rival bid from Chapman University.
The sale agreement provides that the congregation will have three
years to find new premises.

Chapman University, the secular bidder, was the preferred buyer
as far as the church members are concerned, because Chapman would
allow the ministry to continue to use the main buildings on the
premises.  It also offered the option of allowing church
administrators to buy the property back at a later point.  
Chapman raised its bid to $59 million, but the Crystal Cathedral
board still chose the Diocese.


CUMULUS MEDIA: Incurs $14.4 Million Net Loss in First Quarter
-------------------------------------------------------------
Cumulus Media Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $14.4 million on $269 million of net revenue for the three
months ended March 31, 2016, compared to a net loss of $12.01
million on $271 million of net revenue for the same period in
2015.

As of March 31, 2016, Cumulus had $2.98 billion in total assets,
$2.98 billion in total liabilities, and $2.48 million in total
stockholders' equity.

"We are in the early stages of a multi-year turnaround," said Mary
Berner chief executive officer of Cumulus Media Inc.  "Our first
quarter results and second quarter pacings are consistent with the
considerable challenges we must overcome.  However, we are seeing
some signs of progress in each of our turnaround initiatives -
enhancing operational blocking and tackling, instituting a strong
and positive culture, and driving improved ratings."

As previously disclosed, on Nov. 3, 2015, the Company received a
notification from the Listing Qualifications Department of The
NASDAQ Stock Market LLC indicating that it was not in compliance
with NASDAQ Listing Rule 5450(a)(1) because the minimum bid price
of its Class A common stock on the NASDAQ Global Select Market has
closed below $1.00 per share for 30 consecutive business days.

On May 3, 2016, the Company received approval from NASDAQ to
transfer the listing of the Company's Class A common stock from the
NASDAQ Global Select Market to the NASDAQ Capital Market.  This
provides the Company an additional 180 calendar days to comply with
the Rule in order for our Class A common stock to remain listed on
the NASDAQ Capital Market.

"Should we not regain compliance with this listing rule, we intend
to evaluate all potential alternatives, which could include
evaluating a reverse stock split, although no assurances can be
provided. Our inability to maintain the listing of our common stock
on any NASDAQ market may materially adversely affect the liquidity
and market price of our common stock," the Company said.

On May 5, 2016, the Company held an investor conference call and
webcast to discuss financial results for the three months ended
March 31, 2016.  The Company has also made available on its website
presentation materials containing certain historical and
forward-looking information relating to the Company about the
Company's financial results for the three months ended March 31,
2016, a copy of which is available for free at:

                      http://is.gd/TMiAP1

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

                      http://is.gd/eLFQ0g  

                      About Cumulus Media

Cumulus Media Inc. (CMLS) combines high-quality local programming
with iconic, nationally syndicated media, sports and entertainment
brands in order to deliver premium choices for listeners, provide
substantial reach for advertisers and create opportunities for
shareholders.  As the largest pure-play radio broadcaster in the
United States, Cumulus provides exclusive content that is fully
distributed through approximately 460 owned-and-operated stations
in 90 U.S. media markets (including eight of the top 10), more
than 10,000 broadcast radio affiliates and numerous digital
channels.  Cumulus is well-positioned in the widening digital
audio space through a significant stake in the Rdio digital music
service, featuring 30 million songs on-demand in addition to
custom playlists and exclusive curated channels.  Cumulus is also
the leading provider of country music and lifestyle content
through its NASH brand, which will serve country fans through
radio programming, NASH magazine, concerts, licensed products and
television/video. For more information, visit www.cumulus.com

Cumulus Media put AR Broadcasting Holdings Inc. and three other
units to Chapter 11 protection (Bankr. D. Del. Lead Case No.
11-13674) in 2011 after struggling to pay off debts that topped
$97 million as of June 30, 2011.

Cumulus Media reported a net loss attributable to common
shareholders of $546.49 million on $1.16 billion of net revenue for
the year ended Dec. 31, 2015, compared to net income attributable
to common shareholders of $11.76 million
on $1.26 billion of net revenue for the year ended Dec. 31, 2014.

                           *     *     *

Standard & Poor's Ratings Services said that it lowered its
corporate credit rating on Atlanta-based radio broadcaster Cumulus
Media Inc. to 'B-' from 'B', as reported by the TCR on Nov. 10,
2015.

As reported by the TCR on Sept. 17, 2015, Moody's Investors Service
downgraded Cumulus Media Inc.'s Corporate Family Rating to B3 from
B2.  Cumulus' B3 Corporate Family Rating reflects Moody's
expectation that debt-to-EBITDA will remain elevated and in the mid
to high 8x through FYE2015 (including Moody's standard adjustments)
due to continued revenue declines in core ad sales and network
revenue as well as the absence of political ad spending in 2015, an
odd numbered year.


DENBURY RESOURCES: S&P Lowers CCR to 'CC', Outlook Negative
-----------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on
Texas-based Denbury Resources Inc. to 'CC' from 'B'.  The outlook
is negative.

S&P also lowered the issue-level rating on the company's senior
subordinated notes to 'CC' from 'CCC+'.

"The downgrade follows Denbury's announcement that it has entered
into privately negotiated exchange agreements with existing holders
of its senior subordinated notes to exchange this debt for a new
issue of senior secured second-lien notes due 2021 and new common
shares," said S&P Global credit analyst Christine Besset.

The company is offering to exchange about $839 million principal
amount of existing notes for approximately $483 of new notes and
33.6 million shares of common equity.  This represents a discount
of about 28% to par based on a stock price of $3.62 as of May 3,
2017.  The closing date is expected to occur on May 10, 2016.

S&P views the transaction as a distressed exchange because
investors will receive less than what was promised on the original
securities.  Additionally, S&P views the offer as distressed,
rather than purely opportunistic, given the currently depressed
industry conditions and S&P's expectations of a significant
deterioration in the company's credit metrics in 2016 and 2017.

The outlook is negative.  Once the transaction has closed, S&P
expects to lower the corporate credit rating to 'SD' (selective
default) and the issue-level rating on the senior subordinated
notes to 'D'.  S&P would then review the ratings based on the new
capital structure and expect to rate the new second-lien notes at
that time.

S&P could raise the ratings if the transaction does not close.

S&P will update its recovery analysis when there is more detailed
information about the resulting capital structure.


DORAL FINANCIAL: Court Approves Fannie Mae Settlement
-----------------------------------------------------
Doral Financial Corporation and the Official Committee of Unsecured
Creditors sought for and obtained from Judge Shelley C. Chapman of
the U.S. Bankruptcy Court for the Southern District of New York
approval of their settlement with Fannie Mae.

The Debtor and Fannie Mae are parties to a Mortgage Selling and
Servicing Contract ("MSSC") which, among other things, approved the
Debtor to sell mortgage loans to Fannie Mae.  Since the execution
of the MSSC, the Debtor has sold mortgage loans to Fannie Mae
pursuant to certain individual master agreements ("MP Contract").
Under certain conditions, the Debtor is obligated to repurchase or
cover certain losses of Fannie Mae relating to some of the mortgage
loans sold by the Debtor to Fannie Mae.

The Debtor entered into a Pledge Agreement pursuant to which the
Debtor pledged $44 million of cash and negotiable debt securities
as collateral to secure its obligations arising under certain MP
Contracts. In connection with the execution of the Pledge
Agreement, the Debtor established an account ("Account")with The
Bank of New York ("BNY"), deposited the Collateral in the Account,
and entered into a Collateral Account Control Agreement,("Escrow
Agreement") among the Debtor, Fannie Mae, and BNY, pursuant to
which BNY continues to hold the Collateral.

The Collateral has matured into cash since its deposit and the
Account currently holds $44 million in cash.  A separate account at
BNY ("DDA") holds $1,000,906 in cash, which is comprised of
interest payments received on account of the Collateral prior to
its maturity.

Fannie Mae filed a proof of claim in the Debtor's bankruptcy case,
asserting secured and unsecured claims against the Debtor's estate
in an aggregate amount of $22,989,840.  In addition to an unsecured
claim of $9,840 due under a software agreement, Fannie Mae asserts
a secured claim of $22,980,000 for "recourse obligations on more
than 8800 recourse loans that require the Debtor to purchase and/or
pay losses incurred on the recourse loans" that are secured by the
Collateral.

The Debtor and the Official Committee contended that the Settlement
Agreement is the result of a months-long, good faith, and
arms'-length discussion among the parties, and provides for over $6
million of additional consideration for the estate.  They further
contended that it provides for the release of $13,950,000 from the
Account to Fannie Mae with the remaining $30,050,000 in the Account
to be released to the Debtor, and that the Debtor will also receive
the funds in the DDA.

The Debtor and the Official Committee told the Court that the
Settlement Agreement contemplates the full termination of the
Debtor's and Fannie Mae's entire contractual relationship, the
withdrawal of Fannie Mae's Proof of Claim, and the exchange of full
mutual releases among the Debtor, the Committee, and Fannie Mae,
including the release of termination, rejection, or related
damages, if any, that would otherwise arise from the termination of
the Party Contracts.

Doral Financial Corporation and its affiliated debtors are
represented by:

          Mark I. Bane, Esq.
          ROPES & GRAY LLP
          1211 Avenue of the Americas
          New York, NY 10036-8704
          Telephone: (212)596-9000
          Facsimile: (212)596-9090
          E-mail: mark.bane@ropesgray.com

               - and -

          James A. Wright III, Esq.
          ROPES & GRAY LLP
          Prudential Tower
          800 Boylston Street
          Boston, MA 02199-3600
          Telephone: (617)951-7000
          Facsimile: (617)951-7050
          E-mail: james.wright@ropesgray.com

The Official Committee of Unsecured Creditors is represented by:

          Brian D. Pfeiffer, Esq.
          Taejin Kim, Esq.
          SCHULTE ROTH & ZABEL LLP
          919 Third Avenue
          New York, NY 10022
          Telephone: (212)756-2000
          Facsimile: (212)593-5955
          E-mail: brian.pfeiffer@srz.com
                  tae.kim@srz.com

                About Doral Financial Corporation

Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank.  DFC maintains offices
in
New York City, Coral Gables, Florida and San Juan, Puerto Rico.
DFC has three wholly-owned subsidiaries: (i) Doral Properties,
Inc., (ii) Doral Insurance Agency, LLC ("Doral Insurance"), and
(iii) Doral Recovery, Inc.

On Feb. 27, 2015, regulators placed Doral Bank into receivership
and named the Federal Deposit Insurance Corp. as receiver.  Doral
Bank served customers through 26 branches located in New York,
Florida, and Puerto Rico.

DFC sought Chapter 11 protection (Bankr. S.D.N.Y. Case No.
15-10573) in Manhattan on March 11, 2015.   DFC estimated $50
million to $100 million in assets and $100 million to $500 million
in debt as of the bankruptcy filing.  

On Nov. 25, 2015, Doral Properties filed a voluntary petition
(Case No. 15-13160).  Doral Properties Inc. disclosed total assets
of P23,149,434 and total liabilities of 37,335,000.

On Dec. 4, 2015, the Court directed the joint administration of
The Debtors' chapter 11 cases under Case No. 15-10573, for
procedural purposes.  Both cases are assigned to Judge Shelley C.
Chapman.

The Debtors are represented by Ropes & Gray LLP as counsel.
Garden City Group, LLC, serves as the Debtors' claims agent.  Carol
Flaton at Zolfo Cooper Management serves as chief restructuring
officer.

The U.S. trustee overseeing the Chapter 11 case of Doral Financial
appointed five creditors of the company to serve on the official
committee of unsecured creditors.  The Committee is represented by
Brian D. Pfeiffer, Esq., and Taejin Kim, Esq., at Schulte Roth &
Zabel LLP.  The panel tapped Fiddler, Gonzalez, Rodriguez, P.S.C.
as special Puerto Rico counsel; McConnell Valdes LLC as special
Puerto Rico tax counsel; Capstone Advisory Group, LLC, together
with its wholly-owned subsidiary Capstone Valuation Services, LLC,
as financial advisor; and Prime Clerk LLC as its information agent.


DRAFTDAY FANTASY: Signs $500,000 Loan Agreement with Sillerman
--------------------------------------------------------------
Sillerman Investment Company VI, an affiliate of Robert F.X.
Sillerman, the executive chairman and chief executive officer of
Viggle Inc. entered into a secured revolving loan agreement with
the Company and its subsidiaries, wetpaint.com, Inc. and Choose
Digital Inc., pursuant to which the Company can borrow up to
$500,000.  

As disclosed in a regulatory filing with the Securities and
Exchange Commisison, the Secured Revolving Loan bears interest at
the rate of 12% per annum.  The Secured Revolving Loan matures on
Dec. 31, 2016, barring any events of default or a change of control
of the Company.

On April 29, 2016, the Company borrowed $125,000 under the Secured
Revolving Loan.

In connection with the Secured Revolving Loan, the Company and the
Subsidiaries have entered into a Security Agreement with SIC VI,
under which the Company and the Subsidiaries have granted SIC VI a
continuing security interest in all assets of the Company and the
Subsidiaries, with the exception of the Company's interest in
DraftDay Gaming Group, Inc.

The Company intends to use the proceeds from the Secured Revolving
Loan to fund working capital requirements and for general corporate
purposes.  Because Mr. Sillerman is a director, executive officer
and greater than 10% stockholder of the Company, a majority of the
Company's independent directors approved the transaction.

As reported on the Company's Current Report on Form 8-K filed March
30, 2016, the Company entered into a Secured Line of Credit with
Sillerman Investment Company VI, LLC on March 29, 2016. On April
25, 2016, the Company borrowed an additional $25,000 under the
Secured Line of Credit.  On April 28, 2016, the Company borrowed an
additional $162,000 under the Secured Line of Credit. A total of
$500,000 has been advanced under the Secured Line of Credit.

                      About DraftDay

DraftDay Fantasy Sports Inc., formerly known as Viggle Inc., offers
a high quality daily fantasy sports experience directly to
consumers and to businesses desiring turnkey solutions to new
revenue streams.  DraftDay Fantasy Sports Inc. is the largest
shareholder of DraftDay Gaming Group, with a 44% stake.  Sportech
owns 35%.  By combining and capitalizing on the well-established
operational business assets of DraftDay and Sportech, the new
DraftDay is well-positioned to become a significant player in the
explosive fantasy sports market.  DraftDay has paid out over $30
million in prizes with increased player retention and brand
loyalty.  DraftDay Fantasy Sports also operates MyGuy and Viggle
Football both of which offer real-time interactive participation
with professional and college football games; Wetpaint, which
offers entertainment and celebrity news; and Choose Digital, a
digital marketplace platform that allows companies to incorporate
digital content into existing rewards and loyalty programs in
support of marketing and sales initiatives.

As of Dec. 31, 2015, Draftday had $38.81 million in total assets,
$60.08 million in total liabilities, $12.28 million in series C
convertible redeemable preferred stock, and a $33.54 million total
stockholders' deficit.

"The Company is unlikely to generate significant revenue or
earnings in the immediate or foreseeable future.  The continuation
of the Company as a going concern is dependent upon the continued
financial support from its stockholders, the ability of the Company
to obtain necessary equity or debt financing to continue
development of its business and to generate revenue.  Management
intends to raise additional funds through equity and/or debt
offerings until sustainable revenues are developed.  There is no
assurance such equity and/or debt offerings will be successful and
therefore there is substantial doubt about the Company's ability to
continue as a going concern within one year after the financial
statements are issued," according to the Company's quarterly report
for the period ended Dec. 31, 2015.


DYNCORP INT'L: S&P Puts 'CCC' CCR on CreditWatch Positive
---------------------------------------------------------
S&P Global Ratings placed all of its ratings on DynCorp
International Inc., including S&P's 'CCC' corporate credit rating,
on CreditWatch with positive implications.

"The CreditWatch placement reflects the company's recent
announcement that it plans to extend its debt maturities and
improve its liquidity by amending its credit facility and entering
into an exchange offer for its existing $455 million 10.375% senior
unsecured notes due 2017," said S&P Global credit analyst Chris
Denicolo.  On April 30, 2016, DI entered into a support agreement
with approximately 69% of its existing noteholders that requires
the company to offer to exchange its existing notes at par for new
notes that will have a second-lien on the same assets as the credit
facility, pay 10.375% cash interest and 1.5% payment-in-kind (PIK)
interest, and have a maturity date of 2020. The company will also
pay down $45 million of the notes as part of the offer.  The
support agreement requires that 90% of the existing notes be
tendered for the transactions to take effect. Despite the extension
of the notes' maturity, S&P does not consider this a distressed
exchange under its criteria because S&P do not believe that the
lenders will receive less than current value due to the security
interest, exchange at par, and higher interest rate.

S&P will evaluate the impact of the proposed refinancing on DI's
liquidity and may choose to raise S&P's ratings on the company once
the transaction closes.  S&P would likely only raise its corporate
credit rating by one notch to 'CCC+' because S&P believes that,
despite the improvement in its liquidity, the company will still
have an unsustainable capital structure following the refinancing.
S&P also plans to assign ratings to the new credit facility and
exchange notes pending the receipt of additional information.


ELAINA VANDERS JOHNSON: Court Dismisses Ch. 11 Case
---------------------------------------------------
Judge Marian F. Harrison of the U.S. Bankruptcy Court for the
Middle District of Tennessee, At Nashville, granted Heritage Bank,
USA, Inc.'s motion to dismiss Elaina Vanders Johnson's Chapter 11
case, holding that "the debtor has had ready excuses for everything
that has arisen in this case, but the Court has reached the point
where the debtor's excuses and other testimony are no longer
credible.  Therefore, it is time for this case to come to an end."

A full-text copy of Judge Harrison's Memorandum Opinion dated May
5, 2016, is available at
http://bankrupt.com/misc/JOHNSON2920505.pdf

The case is ELAINA VANDERS JOHNSON, Debtor, Case No. 15-03929
(Bankr. M.D. Tenn.).


ELBIT IMAGING: Announces Notes Buyback
--------------------------------------
Elbit Imaging Ltd. announced that repurchases of the following
Notes were executed since Feb. 1, 2016, to date:

             Note:  Series H

     The acquiring  Elbit Imaging Ltd
      Corporation:

Quantity purchased  43,441,024
      (Par Value):

Weighted average    91.97
            Price:

     Total Amount   39,954,588
       Paid (NIS):


             Note:  Series H

    The acquiring   Elbit Imaging Ltd
      Corporation:

Quantity purchased  99,431,567
      (Par Value):

Weighted average    90.43
Price:

   Total Amount     89,922,587
     Paid (NIS):

The Company has reached the new Notes' Buy-Back plan goal and will
cease the purchase of Notes until further notice.

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

                        http://is.gd/HNR80P

                        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.


ELUMWOOD ASSOCIATES: 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 Elumwood Associates LP.

Two alleged creditors submitted an involuntary Chapter 11 petition
for Elumwood Associates LP in the U.S. Bankruptcy Court for the
Western District of Washington (Seattle) (Case No. 16-10800) on
February 18, 2016.

The petitioners are Elumwood Apartments LLC and David A. Bolin, Jr.
The petitioning creditors tapped as counsel Charles A. Lyman, Esq.,
at Schlemlein Goetz Fick & Scruggs, PLLC.


EMERALD OIL: 341 Meeting of Creditors Set for May 11
----------------------------------------------------
The meeting of creditors of Emerald Oil Inc. is set to be held on
May 11, 2016 at 2:00 p.m., according to a filing with the U.S.
Bankruptcy Court in Delaware.

The meeting will take place at J. Caleb Boggs Federal Building,
Room 2112, 844 King Street, Wilmington, Delaware.

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

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

                      About Emerald Oil

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

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

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

Judge Kevin Gross has been assigned the cases.


EMERALD OIL: Gets Approval to Hire Intrepid as Financial Advisor
----------------------------------------------------------------
Emerald Oil Inc. received court approval to hire a financial
advisor in connection with its Chapter 11 case.

The order, issued by Judge Kevin Gross of the U.S. Bankruptcy Court
in Delaware, allowed the company to hire Intrepid Partners LLC as
its financial advisor nunc pro tunc to March 22, 2016.

The court order modified the fee structure proposed by the company
after it had drawn opposition from the unsecured creditors'
committee.

The committee complained that the fee structure was unreasonable,
pointing out that it would permit Intrepid to receive "two outsized
fees for performing essentially the same work."

According to the committee, if Emerald Oil proceeded with a
liquidating plan to effectuate the sale of its assets, Intrepid
would receive two separate fees for the consummation of the sale
and for the consummation of a restructuring via the liquidating
plan.

A copy of Judge Gross' order is available without charge at
http://is.gd/2FmPou

                      About Emerald Oil

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

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

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

Judge Kevin Gross has been assigned the cases.


EMERALD OIL: Gets Final Approval to Obtain $20-Mil. Loan
--------------------------------------------------------
A federal judge on May 6 approved a $20 million financing to get
Emerald Oil Inc. through bankruptcy.

Judge Kevin Gross of the U.S. Bankruptcy Court in Delaware gave
final approval to the loan to be provided by a group of lenders led
by Wells Fargo Bank N.A.

The bankruptcy judge had earlier allowed the company to borrow an
initial $7.5 million from the same lenders.

In exchange for the loan, the lenders will be granted liens and
security interests in assets that Emerald Oil used as collateral,
according to court filings.

Judge Gross' order also authorized the company to use the lenders'
cash collateral to support its operations.

A copy of the court order is available without charge at
http://is.gd/zh58qr

Emerald Oil and Wells Fargo had earlier defended the $20 million
loan, which had drawn flak from the official committee of unsecured
creditors and certain creditors of the company.  Both pointed out
the need to obtain a loan to fund the company's operations,
according to court filings.

                      About Emerald Oil

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

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

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

Judge Kevin Gross has been assigned the cases.


EMMAUS LIFE: Appoints Steve Lee Interim CFO
-------------------------------------------
Emmaus Life Sciences, Inc., appointed Steve Lee as the Company's
interim chief financial officer, effective April 29, 2016.  Upon
commencement of his appointment, Mr. Lee assumed the duties of the
Company's principal financial officer and principal accounting
officer.  Mr. Lee succeeds Peter Ludlum, who has served as the
Company's chief financial officer since April 2, 2012.  Effective
as of April 29, 2016, Mr. Ludlum will continue in the role of
co-president and assume a new role as chief business officer to
further serve the company on business matters, including investor
relations and business development.

Mr. Steve Lee, age 50, is currently the CEO & managing director of
The Garret Group, an accounting and management consulting firm,
having served in that position since 2006.  Mr. Lee, through The
Garret Group, has been engaged by the Company as a GAAP consultant
since Jan. 13, 2014.  Mr. Lee's professional experience includes
working for SingerLewak LLP as an audit partner from 2012 to 2013,
as well as in a regulatory capacity with the Public Company
Accounting Oversight Board from 2004 to 2006, performing
inspections of registered public accounting firms to assess their
compliance with the Sarbanes-Oxley Act of 2002, rules of the PCAOB,
regulations of the Securities and Exchange Commission and
professional standards, in connection with the PCAOB’s
performance of audits, issuance of audit reports, and related
matters involving issuers.  Prior to Mr. Lee's tenure at the PCAOB,
he served in various accounting and finance executive and
management capacities with Mitsubishi Motors Credit of America,
Inc., Premier Automotive Group of Ford Motor Company, Deloitte &
Touche LLP, and a private company involved in the semiconductor
business.  Prior to the completion of graduate school in 1993 for a
M.A. degree in Accounting at University of Southern California, Mr.
Lee worked as a financial analyst at Security Pacific Merchant Bank
Group based in Los Angeles, California.  Mr. Lee has a B.A. in
Economics from University of California, Irvine.

The Company will pay monthly compensation of $35,000 to The Garret
Group for Mr. Lee's services.

                        About Emmaus Life

Emmaus Life Sciences, Inc., is engaged in the discovery,
development, and commercialization of treatments and therapies
primarily for rare and orphan diseases.  This biopharmaceutical
company's headquarters is in Torrance, California.

Emmaus Life reported a net loss of $20.8 million on $500,700 of net
revenues for the year ended Dec. 31, 2014, compared to a net loss
of $14.06 million on $391,000 of net revenues for the year ended
Dec. 31, 2013.

As of March 31, 2015, the Company had $2.2 million in total assets,
$24.3 million in total liabilities and a $22.1 million total
stockholders' deficit.

KPMG LLP, in San Diego, California, issued a "going Concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2014.  The independent auditors noted that the
Company has suffered recurring losses from operations, has
significant amounts of debt due within a year, and has a net
capital deficiency that raise substantial doubt about its ability
to continue as a going concern.


EMPYREAN TOWERS: Ed King Resigns From Creditors' Committee
----------------------------------------------------------
Guy G. Gebhardt, the acting U.S. trustee for Region 21, on May 6
announced the resignation of Ed King from Empyrean Towers LLC's
official committee of unsecured creditors.

The remaining committee members are Donald Fisher, Kia'Ora Henson,
Logan Mendez, and Nicole Lenoir.

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense. They may investigate the debtor's business and financial
affairs. Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                         About Empyrean Towers

Empyrean Towers, LLC sought protection under Chapter 11 of the
Bankruptcy Code in the Northern District of California (Oakland)
(Case No. 15-42341) on July 30, 2015.  The petition was signed by
Alice Tse, manager.

The Debtor is represented by Eric A. Nyberg, Esq., at Kornfield,
Nyberg, Bendes and Kuhner, P.C. The case is assigned to Judge Roger
L. Efremsky.

The Debtor disclosed total assets of $6 million and total debts of
$5.2 million.


ENCORE PROPERTIES: General Claims Bar Date Set for October 11
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Northern District of New York
(Utica) entered an order setting October 11, 2016, as the last day
to file proofs of claim in the bankruptcy case of Encore Properties
of Rochester, LLC.

                     About Encore Properties

Encore Properties of Rochester, LLC, commenced a voluntary case
(Bankr. N.D.N.Y. Case No. 16-60524) under Chapter 11 of the
Bankruptcy Code on April 13, 2016.

The Company disclosed total assets of $25 million and total debts
of $17.72 million.  The petition was signed by Patrick F. Loreto,
managing partner.


EXGEN TEXAS: S&P Revises Outlook to Neg. & Affirms 'B+' Rating
--------------------------------------------------------------
S&P Global Ratings said that it revised its outlook on ExGen Texas
Power LLC to negative from stable.  The 'B+' rating is unchanged.
The recovery rating is unchanged at '2', indicating expectations
for substantial (70% to 90%; lower half of the range) recovery of
principal in case of default.

The outlook revision reflects an ongoing lower power pricing
environment in ERCOT that should continue through much of the next
few years.  This has come about in the last year, and is based on
lower natural gas prices, sluggish growth in demand (based on a
weaker oil and gas sector in Texas), and greater-than-expected
renewable generation, which has cut into peak demand and weakened
market heat rates.  Additionally, S&P notes that there was a
partial outage at the Wolf Hollow facility during the fourth
quarter of 2015; while this is not an immediate issue, S&P will
continue to monitor this to determine whether or not this could
persist and result in an increase in operating costs or lower
availability assumptions.

"While we note that there are hedges in place that partially gird
the portfolio against market volatility through 2018, the depressed
power pricing market has cast doubt on the project's ability to
trim refinancing risk beyond the hedged period (specifically in the
years 2019-2021), or to enter into more lucrative hedges to shore
up cash flows in the outer years of the debt tenor," said S&P
Global Ratings credit analyst Michael Ferguson.

S&P anticipates minimum DSCRs to be about 1.3x beyond hedged
periods, and that debt outstanding at refinancing should be about
$350 million; S&P had previously thought this figure would be well
below $300 million.  Despite the ongoing challenges in the ERCOT
market, S&P still considers liquidity to be neutral for this
project based on sources exceeding uses by more than 2x during the
next 12 months.

The negative outlook on ExGen reflects S&P's expectations of
increased refinancing risk at maturity as a result of weakened
power prices in ERCOT, as well as DSCRs that look to be about 1.3x
in the project's unhedged period, but could decline further with
continued weakness in the market.


FANNIE MAE: Posts $1.13 Billion Net Income for First Quarter
------------------------------------------------------------
Federal National Mortgage Association filed with the Securities and
Exchange Commission its quarterly report on Form 10-Q disclosing
net income of $1.13 billion on $27.3 billion of total interest
income for the three months ended March 31, 2016, compared to net
income of $1.88 billion on $27.6 billion of total interest income
for the same period in 2015.

As of March 31, 2016, Fannie Mae had $3.22 trillion in total
assets, $3.21 trillion in total liabilities and $2.11 billion in
total equity.

"We continue to run our business well while supporting the
improving housing market," said Timothy J. Mayopoulos, president
and chief executive officer.  "The changes we have made to the
company have put us in a stronger position to fulfill our
responsibility to deliver safe, affordable mortgage financing for
our customers, in all markets at all times.  We will continue to
execute on behalf of our partners, drive further improvements to
housing finance and our company, and serve those who house
America."

Fannie Mae provided approximately $115 billion in liquidity to the
mortgage market in the first quarter of 2016, through its purchases
of loans and guarantees of loans and securities, which resulted in
approximately:

  * 210,000 home purchases

  * 256,000 mortgage refinancings

  * 161,000 units of multifamily housing

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

                      http://is.gd/w56KxB

                        About Fannie Mae

Federal National Mortgage Association, aka Fannie Mae, is a
government-sponsored enterprise that was chartered by U.S.
Congress in 1938 to support liquidity, stability and affordability
in the secondary mortgage market, where existing mortgage-related
assets are purchased and sold.

The U.S. Department of the Treasury owns Fannie Mae's senior
preferred stock and a warrant to purchase 79.9 percent of its
common stock, and Treasury has made a commitment under a senior
preferred stock purchase agreement to provide Fannie with funds
under specified conditions to maintain a positive net worth.

Fannie Mae reported net income of $10.95 billion on $109 billion of
total interest income for the year ended Dec. 31, 2015, compared
with net income of $14.2 billion on $114 billion of total interest
income for the year ended Dec. 31, 2014.

                        About Freddie Mac

Based in McLean, Virginia, the Federal Home Loan Mortgage
Corporation, known as Freddie Mac (OTCBB: FMCC) --
http://www.FreddieMac.com/-- was established by Congress in        

1970 to provide liquidity, stability and affordability to the
nation's residential mortgage markets.  Freddie Mac supports
communities across the nation by providing mortgage capital to
lenders.  Over the years, Freddie Mac has made home possible for
one in six homebuyers and more than five million renters.

Freddie Mac is under conservatorship and is dependent upon the
continued support of Treasury and the Federal Housing Finance
Agency acting as conservator to continue operating its
business.


FIRSTLIGHT HYDRO: S&P Affirms 'B' ICR, Off CreditWatch
------------------------------------------------------
S&P Global Ratings affirmed its 'B' issuer credit rating on
FirstLight Hydro Generating Co. and removed the rating from
CreditWatch, where S&P placed it with developing implications on
March 16, 2016.  The outlook is stable.

S&P also affirmed the 'BB-' rating on the senior secured notes and
removed it from CreditWatch with developing implications.  The
recovery rating on this debt is '1', indicating expectations for
very high (90%-100%) recovery in the event of a payment default.
S&P revised stand-alone credit profile to 'b' from 'b-'.

"The ratings affirmation stems from an assessment of FirstLight
after its recent acquisition by Private Sector Pension Investment
Board [PSP]," said S&P Global Ratings credit analyst Michael
Ferguson.  While S&P now ascribes no uplift under Group Ratings
Methodology, it has revised its assessment of FirstLight's
financial risk profile, resulting in a higher stand-alone credit
profile.

S&P no longer considers the impacts of Group Ratings Methodology
under the new ownership.  S&P classifies the new ultimate owner,
PSP, as an investment holding company, making this relatively small
subsidiary ineligible for uplift, even though it likely has some
strategic significant to its new owner.

However, due to expectations of an effective, stable capacity
market in ISO-NE, as well as an amortizing structure that has
lowered the debt balance over time, S&P now assess the financial
risk profile as significant.

S&P considers FirstLight to have adequate liquidity, with sources,
including cash and funds from operations, exceeding uses, including
capital spending and amortization, by more than 1.2x over the next
12 months.

The stable outlook on FirstLight Hydro Generating Co. reflects
S&P's view that, over the next two years, financial performance
under the intercompany PPA with FirstLight Hydro Resources will be
stable and that operational performance will also be strong.  S&P
anticipates the company will have debt to EBITDA of about 3.5x
during this time frame.

S&P could consider lowering the rating if market conditions
deteriorate to the point that the company's liquidity becomes weak,
meaning there could be doubts regarding the company's ability to
service debt over the next 12 to 24 months.

Although S&P considers it unlikely, it could raise the rating if
market conditions materially improve, leading to an expectation
that debt to EBITDA remains below 3.25x consistently.


FREEDOM COMMUNICATIONS: OC Media Sues Over $2.1MM Sale Proceeds
---------------------------------------------------------------
OC Media Tower, L.P., filed an adversary complaint against Freedom
Communications, Inc., and Freedom SPV II, Inc., asking the
Bankruptcy Court to enter a declaratory judgment that specifically
determines the validity, extent, and priority of the OC Media Lien
as a valid lien and that $2,145,000 must be paid through the sale
proceeds resulting from the sale approved by the sale Order.

The Plaintiff alleges that SPV II's major asset was the Santa Ana
Property, which is a real property consisting of a land with a
2-story single tenant industrial printing facility -- occupied by
FCI, and parking areas surrounding the 625 Property -- a 5-story
office building that serves as the Debtors' executive offices.

According to the Plaintiff, a sale agreement has been entered by
the Plaintiff with SPV II for the Plaintiff's purchase of the 625
Property for $27 million contingent upon Plaintiff agreeing to a
Lease-back Agreement with FCI for the use and occupancy of the 625
Property. In connection with the Lease-back Agreement, FCI issued
to Plaintiff a promissory note in the amount of $2,145,239,
reflecting a holdback for FCI's performance under the lease of the
Office Building plus reasonable attorney fees incurred in
connection with the collection or enforcement of the OC Media Note
and a provision that if the Santa Ana Property is sold, the Note
Amount is due, owing, and shall be paid to the Plaintiff.  

The Plaintiff tells the Court that it would not have entered into a
sale agreement or ultimately closed on the sale of the 625 Building
without the Plaintiff agreeing to the Lease-back Agreement with FCI
for the use and occupancy of the 625 Property, which provided FCI
with a 20-year lease of the 625 Property, with two 10-year options
to renew.

The Plaintiff narrates that at the time the asset purchase
agreement, OC Media Note, and OC Media Lien were entered into or
perfected, continuing through the Petition Date, SPV II does not
have a lease or sublease with FCI to use or occupy the 625
Building, and on the other hand, FCI occupied and used the Print
Facility on the Santa Ana Property -- owned by SPV II -- without
any lease agreement with SPV II to occupy or use the Print Facility
and without any rent paid to SPV II in connection with its
occupancy and use of the Print Facility.

The Plaintiff tells the Court that the Debtors filed its Sale
Motion detailing the mechanics and procedure for the proposed sale
of the Debtors' assets to MediaNews Group, Inc. d/b/a Digital First
Media for $51,800,000 free and clear of numerous liens encumbering
the Santa Ana Property, including the OC Media Lien of $2,145,000
as a purportedly "disputed/avoidable lien," although the sale of
the 625 Property was specifically conditioned upon Plaintiff's
Lease-back Agreement with FCI.

Consequently, the Plaintiff asserts that the OC Media Lien is not
avoidable by the Debtors considering that the OC Media Lien has
been entered into or perfected for an exchange of valuable
consideration between Plaintiff and SPV II as a partial
consideration for the APA and Plaintiff's purchase of the 625
Building.

OC Media Tower, L.P. is represented by:

       Leonard M. Shulman, Esq.
       Michael J. Petersen, Esq.
       Ryan D. O'Dea, Esq.
       SHULMAN HODGES & BASTIAN LLP
       100 Spectrum Center Drive, Suite 600
       Irvine, California 92618
       Telephone: (949) 340-3400
       Facsimile: (949) 340-3000
       Email: lshulman@shbllp.com
              rodea@shbllp.com

             About Freedom Communications

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

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

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

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

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


GAS-MART USA: Committee Supplements Freeborn & Peters Employment
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Gas-Mart USA,
Inc., and its debtor-affiliates filed with the U.S. Bankruptcy
Court for the Western District of Missouri a supplemental
application to retain Freeborn & Peters LLP as counsel to the
Committee.

By this Supplemental Application, the Committee seeks to retain
Freeborn as its counsel retroactive to March 30, 2016 -- the date
the Court entered an order granting the Committee standing to
pursue, commence, prosecute, settle, and recover certain claims and
amounts in connection with certain causes of action.

The Committee and UMB Bank, N.A., reached an agreement, as set
forth in the Stipulation and Order Approving Stipulation Between
UMB Bank, N.A, and Official Committee of Unsecured Creditors with
respect to final order (i) authorizing secured postpetition
financing on a superpriority, (ii) authorizing use of cash
collateral pursuant, and (iii) granting adequate protection filed
on March 10, 2016.

Among other things, the Stipulation provides that the Committee
shall investigate and pursue certain causes of action on behalf of
the Debtors' estates.  In connection with the Stipulation, on March
30, 2016 the Court granted the Committee's motion for standing to
pursue (i) any causes of action against Wells Fargo Bank, N.A. and
its affiliated entities; and (ii) any causes of action arising
under Sections 547, 548 and 550 of the Bankruptcy Code.  In
addition to these claims, the Committee may obtain standing to
pursue additional claims on behalf of the estates (collectively,
the "Causes of Action").

The Committee contemplates that Freeborn will provide legal
services in connection with pursuing the Causes of Action,
including:

   (a) Investigate, file (where necessary) and prosecute the
       Causes of Action;

   (b) Represent the Committee at hearings, meetings and
       conferences on matters pertaining to such Causes of
       Action; and

   (c) Perform all other necessary legal services related to such
       Causes of Action.

Subject to the Court's approval, Freeborn proposes to prosecute the
Causes of Action on a contingency fee basis pursuant to these
guidelines:

   -- Compensation: Freeborn will be compensated on a contingency
      basis, with its fee equal to:

      * 20% of all recoveries resulting from settlements of
        Causes of Action obtained prior to the filing of an
        adversary complaint;

      * 25% of all recoveries resulting from any settlement
        reached, after the filing of an adversary complaint; and

      * 30% of all recoveries made after the entry of any
        judgments entered in favor of the Committee or the
        estates.

      The Committee intends to seek approval of avoidance action
      procedures to govern the adjudication and settlement of
      Causes of Action.  These procedures will provide that
      Freeborn receives interim contingency fee compensation as
      funds are available from approved settlements, but Freeborn
      shall file a final fee application with the Court upon the
      conclusion of this engagement; and

   -- Reimbursement of Expenses: Subject to Court approval,
      Freeborn shall be entitled to reimbursement of all actual
      out-of-pocket expenses incurred by Freeborn on the
      Committee's behalf, such as filing fees, document
      reproduction, conference telephone and telecopier charges.

According to the declaration of Devon J. Eggert, Esq., at Freeborn,
the Firm is a "disinterested person" within the meaning of Section
101(14) of the Bankruptcy Code.

                       About Gas-Mart USA

Gas-Mart USA, Inc., Aving-Rice, LLC, Fran Transport & Oil Company,
and G&G Enterprises, LLC, sought Chapter 11 bankruptcy protection
(Bankr. W.D. Mo. Lead Case No. 15-41915) in Kansas City, Missouri,
on July 2, 2015.

Gas-Mart and Aving-Rice own and operate gasoline
station/conveniences stores ("C-Stores").  With locations in Iowa,
Illinois, Indiana, Nebraska, and Wisconsin, Gas-Mart and Aving Rice
operate 22 and 20 stores, respectively, as of the Petition Date.
G&G owns and leases ATM's to the 42 Gas-Mart and Aving-Rice
locations as well as certain ConocoPhillips locations in the
greater Kansas City Area.  Fran is a fuel hauling business located
in and serving Kansas City.

On Oct. 6, 2015, an order for relief under 11 U.S.C. Chapter 11 was
entered for the debtor Fuel Services Mart, Inc. ("FSM").  FSM filed
as motion for an order directing that certain Orders in In re
Gas-Mart USA., et al. be made applicable to FSM.

Judge Arthur B. Federman presides over the Chapter 11 cases.

The Debtors tapped Stinson Leonard Street LLP as attorneys;
Polsinelli PC as special counsel; Brown & Ruprecht, PC as Conflicts
counsel; and Frank Wendt as special conflicts counsel.

The Debtors' Chapter 11 plan and disclosure statement are due Oct.
30, 2015.

Gas-Mart estimated $10 million to $50 million in assets and debt.

In July, Daniel Casamatta, acting U.S. trustee, appointed seven
creditors to serve on Gas-Mart's official committee of unsecured
creditors.  The committee is represented by Freeborn & Peters LLP,
in Chicago, Illinois.


GASTAR EXPLORATION: Incurs $73.5 Million Net Loss in 1st Quarter
----------------------------------------------------------------
Gastar Exploration Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to common stockholders of $73.5 million on $14.8
million of total revenues for the three months ended March 31,
2016, compared to a net loss attributable to common stockholders of
$3 million on $34.4 million of total revenues for the same period
in 2015.

As of March 31, 2016, Gastar had $350 million in total assets,
$542.90 million in total liabilities and a total stockholders'
deficit of $193 million.

J. Russell Porter, Gastar's president and CEO, commented, "The
exceptionally poor price realizations for all of our first quarter
2016 production severely impacted our revenue and cash flow
compared to a year ago, despite higher production volumes.  Oil
prices have improved in the second quarter of 2016, however we plan
to maintain our current limited capital expenditure plan for 2016
until we see sustained improvement in oil prices or substantially
enhance our liquidity position.  Now that our second test of the
Meramec Shale formation in the Mid-Continent STACK Play has been
completed, our capital expenditures in 2016 will be focused on
participating in select non-operated wells to further de-risk our
acreage while preserving capital and maintaining our STACK Play
leasehold position."  

"We are encouraged by the early flow-back results of our recently
completed Holiday Road 2-1H Meramec well in Kingfisher County,
Oklahoma and the continued solid performance of our Deep River
30-1H well, our first operated Meramec Shale test well.  The
Holiday Road 2-1H has only been on flow back since April 11, 2016,
with oil production volumes slowly ramping up while continuing to
produce high volumes of completion fluids.  The movement of over
3,000 barrels per day of fluid should be an indication of strong
reservoir characteristics.  We expect the well will reach peak
initial production rates 60 to 90 days after the initial flow back
operations began."

With the Appalachian Basin sale now complete and recent
improvements in oil prices and equity markets, we have re-assessed
whether additional Mid-Continent divestitures are prudent.
Accordingly, we have decided to withdraw our efforts to market a
portion of our Mid-Continent acreage in Canadian and Kingfisher
Counties, Oklahoma.  Our sales process was impacted by competing
acreage that is further developed and de-risked being offered for
sale by third parties.  In addition, future operated and
non-operated drilling activity within and near our acreage could
further de-risk our acreage position and define its value to
potential buyers in the future.  We will re-evaluate additional
potential asset divestitures at a later date."

"We expect to have sufficient liquidity to make the upcoming May
2016 interest payment on our senior secured notes and carry out our
remaining limited planned 2016 capital expenditure program,"
concluded Mr. Porter.

At March 31, 2016, Gastar had approximately $27.0 million in
available cash and cash equivalents and $179.6 million in
borrowings outstanding and $370,000 in letters of credit issued
under its revolving credit facility.  Subsequent to quarter-end, on
April 8, 2016, Gastar completed the sale of its Appalachian Basin
assets for an adjusted sales price of $76.6 million, subject to
certain additional adjustments including revenue suspense funds.
In connection with the sale, the borrowing base of Gastar's
revolving credit facility was automatically reduced to $100.0
million as required by the credit agreement and the proceeds were
used to reduce outstanding borrowings.  As of May 2, 2016, Gastar
had approximately $20.4 million in available cash and cash
equivalents and $99.6 million in borrowings outstanding and
$370,000 in letters of credit issued under its revolving credit
facility.

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

                     http://is.gd/L0mQc1

                   About Gastar Exploration

Gastar Exploration Inc. is an independent energy company engaged in
the exploration, development and production of oil, condensate,
natural gas and natural gas liquids in the United States.  Gastar's
principal business activities include the identification,
acquisition, and subsequent exploration and development of oil and
natural gas properties with an emphasis on unconventional reserves,
such as shale resource plays.  In Oklahoma, Gastar is developing
the primarily oil-bearing reservoirs of the Hunton Limestone
horizontal play and is testing other prospective formations on the
same acreage, including the Meramec Shale and the Woodford Shale,
which is referred to as the STACK Play and emerging prospective
plays in the shallow Oswego formation and in the Osage formation, a
deeper bench of the Mississippi Lime located below the Meramec
Shale.  In West Virginia, Gastar has developed liquids-rich natural
gas in the Marcellus Shale and has drilled and completed two
successful dry gas Utica Shale/Point Pleasant wells on its acreage.
Gastar has entered into a definitive PSA to sell substantially all
of its assets and proved reserves and a significant portion of its
undeveloped acreage in the Appalachian Basin.  For more
information, visit Gastar's website at www.gastar.com.

Gastar Exploration reported a net loss attributable to common
stockholders of $473.98 million for the year ended Dec. 31, 2015,
compared to net income attributable to common stockholders of
$36.52 million for the year ended Dec. 31, 2014.

                      *    *      *

As reported by the TCR on March 15, 2016, Standard & Poor's Ratings
Services lowered its corporate credit rating on U.S.-based oil and
gas exploration and production (E&P) company Gastar Exploration
Inc. to 'CCC-' from 'CCC+'.  The downgrade follows Gastar's
announcement that it had just $29 million of cash on hand and a
fully drawn revolver.  The company's borrowing base current stands
at $180 million, but will be reduced to $100 million at the earlier
of the close of the Appalachian asset sale or April 10, 2016.
Proceeds from the Appalachian asset sale are expected to be $80
million.


GATEWAY ENTERTAINMENT: Hires Richard Tarantine as Counsel
---------------------------------------------------------
Gateway Entertainment Studios, LP, seeks permission from the
Bankruptcy Court to employ Richard R. Tarantine, Esq., at Richard
R. Tarantine as its bankruptcy counsel to assist it in:

  (a) taking all necessary actions to protect and preserve the
      bankruptcy estate;

  (b) negotiating with creditors and other parties-in-interest;

  (c) advising in connection with this proceeding;

  (d) preparing the plan of reorganization and disclosure
      statement;

  (e) preparing any necessary pleadings and attending court
      hearings;

  (f) attending the meeting of creditors;

  (g) the preparation of any objections to claims in the Chapter
      11 case;

  (h) advising regarding possible preference actions;

  (i) representing the Debtor in relation to acceptance or
      rejection of executory contracts; and

  (j) performing other legal services normally incident to Chapter

      11 cases.

To the best of the Debtor's knowledge, Mr. Tarantine is a
"disinterested person" as that term is defined in Section 101(14)
of the Bankruptcy Code and does not hold any interest materially
adverse to the bankruptcy estate.  Mr. Tarantine has entered into a
written agreement with the Debtor to charge for his services at the
rate of $300 per hour, based on increments of one-tenth (1/10)
of an hour.  Pursuant to the agreement, the Debtor has also agreed
to reimburse Mr. Tarantine for any out-of-pocket expenses incurred
in connection with its bankruptcy case, including filing fees,
delivery services, long distance telephone charges and travel
expenses, to the extent any of these are required.

                  About Gateway Entertainment

Gateway Entertainment Studios, L.P. was incorporated in 2011 and is
based in the United States.  On April 29, 2016, Gateway
Entertainment Studios, L.P. filed a voluntary petition for
reorganization under Chapter 11 in the U.S. Bankruptcy Court for
the Western District of Pennsylvania (Bankr. W.D. Pa. Case No.
16-21628).  The Debtor listed total assets of $12.15 million and
total debts of $9.87 million.  Judge Carlota M. Bohm is assigned to
the case.


GELTECH SOLUTIONS: Names Victor Trotter as Director
---------------------------------------------------
GelTech Solutions, Inc., appointed Mr. Victor Trotter as a director
of the Company on April 29, 2016.  Since 2004, Mr. Trotter has been
the president and technical director of Trotter Controls, a product
development and automation control systems company.

In connection with his appointment, Mr. Trotter received a grant of
stock options under the Company's equity incentive plan, as
disclosed in a regulatory filing with the Securities and Exchange
Commission.

                           About GelTech

Jupiter, Fla.-based GelTech Solutions. Inc., is a Delaware
corporation organized in 2006.  The Company markets four products:
(1) FireIce(R), a water soluble fire retardant used to protect
firefighters, structures and wildlands; (2) Soil2O(R) 'Dust
Control', its new application which is used for dust mitigation in
the aggregate, road construction, mining, as well as, other
industries that deal with daily dust control issues; (3)
Soil2O(R), a product which reduces the use of water and is
primarily marketed to golf courses, commercial landscapers and the
agriculture market; and (4) FireIce(R) Home Defense Unit, a system
for applying FireIce(R) to structures to protect them from
wildfires.

For the year ended June 30, 2015, the Company reported a net loss
of $5.51 million on $800,365 of sales compared to a net loss of
$7.11 million on $814,587 of sales for the year ended June 30,
2014.

As of Dec. 31, 2015, Geltech had $1.96 million in total assets,
$6.44 million in total liabilities and a total stockholders'
deficit of $4.48 million.

The Company's auditors Salberg & Company, P.A., in Boca Raton,
Florida, issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2015, citing that
the Company has a net loss and net cash used in operating
activities in of $2,638,580 and $2,146,501, respectively, for the
six months ended Dec. 31, 2015, and has an accumulated deficit and
stockholders' deficit of $43,285,883 and $4,482,416, respectively,
at Dec. 31, 2015.  These matters raise substantial doubt about the
Company's ability to continue as a going concern.


GENESYS RESEARCH: Hahnfeldt Seeks Production of  "Counterclaim"
----------------------------------------------------------------
Philip Hahnfeldt asks the U.S. Bankruptcy Court to compel Genesys
Research Institute, Inc., to produce the "Counterclaim" referenced
in the Settlement Agreement entered into by Steward Health Care
System LLC and Steward St. Elizabeth's Medical Center of Boston,
Inc., and the Debtor.

Hahnfeldt explains that the “Counterclaim” is incorporated by
reference in the Settlement Agreement, and is thus a formal part of
that Agreement, but the “Counterclaim” is neither attached to
the Settlement Agreement nor otherwise provided in lieu of
attachment, even though the writing is in the possession of the
Debtor.

Hahnfeldt further explains that there is a time-urgency attached to
his motion on account of the upcoming consideration on May of the
Trustee’s Proposed Compromise/Liquidation Plan, where the Trustee
has identified the “Counterclaim” as part of "claims against
the Steward Entities arising from...the Prior Agreement, and
varying transactions relating thereto, which claims constitute
property of the Debtor's estate," considering that any negotiation
relating to the “Counterclaim” assets, under which the vast
majority of the estate assets stand to be liquidated or destroyed.


The Settlement Agreement document provided: "GRI specifically
acknowledges that the confidentiality restrictions imposed by this
Agreement apply to the Counterclaim and its contents, and further
acknowledges that the obligations of this paragraph apply to its
present and former directors, members and agents with knowledge of
this Agreement and/or the Counterclaim," a statement that is
clearly intended to include the “Counterclaim” writing as part
of the Agreement, and thus, the Counterclaim "is to be taken as a
part of it just as though its contents had been repeated in the
contract."

Furthermore, the “Counterclaim” is the subject of an Injunction
sought in connection with the Proposed Compromise/Liquidation
Plan.

Philip J. Hahnfeldt is represented by:

       Philip J. Hahnfeldt
       12 Russell Rd., Unit 405
       Wellesley, MA 02482-4330
       Telephone: 781-354-1597
       Email: hahnfeldt@cancer-systems-biology.org

            About Genesys Research Institute

GeneSys Research Institute, Inc. filed a Chapter 11 bankruptcy
petition (Bankr. D. Mass Case No. 15-12794) on July 14, 2015.  The
petition was signed by Robert Stemple, clerk and treasurer.  Parker
& Associates serves as the Debtor's counsel.  The Debtor estimated
assets of $10 million to $50 million and liabilities of at least $1
million.  The case is assigned to Judge Joan N. Feeney.


GENON ENERGY: Posts $101 Million Net Income for First Quarter
-------------------------------------------------------------
GenOn Energy, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $101 million on $579 million of total operating revenues for the
three months ended March 31, 2016, compared to a net loss of $11
million on $757 million of total operating revenues for the same
period in 2015.

As of March 31, 2016, Genon had $5.69 billion in total assets,
$5.32 billion in total liabilities and $373 million in total
stockholders' equity.

For the three months ended March 31, 2016, total liquidity
increased $255 million.

Management believes that the Company's liquidity position and cash
flows from operations will be adequate to finance current
operating, maintenance and capital expenditures, debt service
obligations and other liquidity commitments.

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

                   http://goo.gl/ip35bX

                        About Genon

GenOn Energy, Inc. and its affiliates are wholesale power
generation subsidiaries of NRG, which is a competitive power
company that produces, sells and delivers energy and energy
services, primarily in major competitive power markets in the U.S.
GenOn is an indirect wholly-owned subsidiary of NRG.  GenOn was
incorporated as a Delaware corporation on Aug. 9, 2000, under the
name Reliant Energy Unregco, Inc.  GenOn Americas Generation and
GenOn Mid-Atlantic are indirect wholly owned subsidiaries of GenOn.
GenOn Americas Generation was formed as a Delaware limited
liability company on Nov. 1, 2001, under the name Mirant Americas
Generation, LLC. GenOn Mid-Atlantic was formed as a Delaware
limited liability company on July 12, 2000, under the name Southern
Energy Mid-Atlantic, LLC.  GenOn Mid-Atlantic is a wholly-owned
subsidiary of NRG North America and an indirect wholly owned
subsidiary of GenOn Americas Generation.  The Registrants are
engaged in the ownership and operation of power generation
facilities; the trading of energy, capacity and related products;
and the transacting in and trading of fuel and transportation
services.

GenOn Energy reported a net loss of $115 million in 2015 following
net income of $192 million in 2014.

                         *   *    *

As reported by the TCR on March 25, 2016, Moody's Investors Service
downgraded GenOn Energy, Inc.'s corporate family rating (CFR) and
probability of default (PD) rating to Caa2,
from B3, and Caa2-PD from B3-PD, respectively.

GenOn Energy carries a 'CCC+' corporate credit ratings from
Standard & Poor's Ratings Services.


GLACIAL MATERIALS: Case Summary & 14 Unsecured Creditors
--------------------------------------------------------
Debtor: Glacial Materials, LLC
        P.O. Box 1518
        Buffalo, NY 14213

Case No.: 16-10907

Chapter 11 Petition Date: May 5, 2016

Court: United States Bankruptcy Court
       Western District of New York (Buffalo)

Judge: Hon. Carl L. Bucki

Debtor's Counsel: Robert B. Gleichenhaus, Esq.
                  GLEICHENHAUS, MARCHESE & WEISHAAR, P.C.
                  930 Convention Tower
                  43 Court Street
                  Buffalo, NY 14202
                  Tel: (716) 845-6446
                  Fax: 716-845-6475
                  E-mail: RBG_GMF@hotmail.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by John M. Clarey, management committee
chairman.

A list of the Debtor's 14 largest unsecured creditors is available
for free at http://bankrupt.com/misc/nywb16-10907.pdf


GLENCORP INC: Case Summary & 9 Unsecured Creditors
--------------------------------------------------
Debtor: Glencorp, Inc.
        47641 Ryan Road
        Shelby Twp., MI 48317

Case No.: 16-46905

Chapter 11 Petition Date: May 5, 2016

Court: United States Bankruptcy Court
       Eastern District of Michigan (Detroit)

Judge: Hon. Marci B McIvor

Debtor's Counsel: Ryan D. Heilman, Esq.
                  WERNETTE HEILMAN PLLC
                  24725 W. 12 Mile Rd.
                  Suite 110
                  Southfield, MI 48034
                  Tel: (248) 835-4745
                  E-mail: ryan@wernetteheilman.com

                     - and -

                  Michael R. Wernette, Esq.
                  WERNETTE HEILMAN PLLC
                  24725 W. 12 Mile Rd.
                  Suite 110
                  Southfield, MI 48034
                  Tel: (248) 703-6808
                  E-mail: mike@wernettepllc.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Ronald A. Marino, president.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/mieb16-46905.pdf


GLENN RICHARD UNDERWOOD: Court Finds $65K Price for Lot Fair
------------------------------------------------------------
Judge Thomas J. Tucker of the U.S. Bankruptcy Court for the Eastern
District of Michigan, Southern Division, overruled Glenn Richard
Underwood's objection to the Liquidating Agent's proposed sale of
lots 81 and 82, 9230 Dixie Highway, in Clarkston, Michigan, to
Angona Construction Company, for $65,000, finding that the proposed
sale price for the Property is a fair price and a "reasonable
business judgment" by the Liquidating Agent within the meaning of
the October 14, 2008 Order modifying the Debtor's confirmed Chapter
11 plan.

A full-text copy of Judge Tucker's Opinion and Order dated May 5,
2016, is available at
http://bankrupt.com/misc/UNDERWOOD2400505.pdf

The case is GLENN RICHARD UNDERWOOD, pro se, Debtor, Case No.
06-55754 (Bankr. E.D. Mich.).


GLYECO INC: Amends Employment Agreement with CEO
------------------------------------------------
GlyEco, Inc. entered into an amendment the employment agreement
with Grant Sahag, the Company's chief executive officer and
oresident, as disclosed in a Form 8-K report filed with the
Securities and Exchange Commission.

Pursuant to the Amendment, Mr. Sahag will be eligible to receive an
additional 1% of the Company's total outstanding shares of Common
Stock, calculated as of March 31, 2016, upon meeting certain
budget, revenue, and EBITDA targets set forth and approved by the
Company's Board of Directors.  This stock will vest pursuant to a
schedule with certain stock price thresholds that must be achieved
based on a 30 trading day volume weighted average price.

                      About GlyEco, Inc.

Phoenix, Ariz.-based GlyEco, Inc., is a green chemistry company
formed to roll-out its proprietary and patent pending glycol
recycling technology that transforms waste glycols, a hazardous
material, into profitable green products.

GlyEco reported a net loss available to common shareholders of
$12.5 million on $7.36 million of net sales for the year ended Dec.
31, 2015, compared to a net loss available to common shareholders
of $8.73 million on $5.89 million of net
sales for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, GlyEco had $4.87 million in total assets,
$1.69 million in total liabilities and $3.17 million in total
stockholders' equity.

KMJ Corbin & Company LLP, in Costa Mesa, California, issued a
"going concern" opinion in its report on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that
the Company has had recurring losses from operations, has negative
operating cash flows during the year ended Dec. 31, 2015, and has
an accumulated deficit of $34,550,503 as of Dec. 31, 2015.  These
factors raise substantial doubt about the Company's ability to
continue as a going concern.


GNC HOLDINGS: S&P Affirms 'BB+' CCR & Revises Outlook to Neg.
-------------------------------------------------------------
S&P Global Ratings revised its outlook on the Pittsburgh, Pa.-based
vitamin and supplement retailer GNC Holdings Inc. to negative from
stable.  At the same time, S&P affirmed all ratings, including the
'BB+' corporate credit rating.

"The rating action follows GNC's weaker-than-expected operating
results during the first quarter of 2016, with sales declining 0.2%
and margins contracting about 200 basis points (bps) versus the
year ago period, resulting in a number of operating initiatives by
management," said credit analyst Mathew Christy. "This is combined
with the company's announcement of a strategic review process that
could result in the sale of the company, an accelerated
refranchising effort, increased leverage, or another outcome.  We
believe the company's operating initiatives (entailing areas such
as marketing, branding, customer service, and inventory management)
are necessary and could help improve operating trends overtime, but
we also think any positive effects from the initiatives will be
gradual and see execution risk provided the overall weak retail
environment.  Moreover, we see an increased risk for a more
aggressive financial policy following the conclusion of the
company's strategic review process."

The negative outlook reflects S&P's expectation that negative sales
trends and margin erosion will persist in 2016, primarily because
of lower comparable sales and shifting promotional strategies, and
project a low-single-digit decline in revenue and a 120-bp margin
decline.  S&P believes the company's operating initiatives (aimed
at brand image, marketing efforts, and inventory management) will
ultimately ease the negative trends over the next 12 to 24 months,
but the impact will be gradual.  S&P also sees risks with the
execution, timing and effectiveness of management's initiatives,
and the potential for a more aggressive financial policy following
the completion of the company's strategic review process.

"We could lower our ratings if the sales decline and margin
deleverage becomes more pronounced or extends further than our
base-case projection.  This could occur if management cannot
improve operations and customer traffic trends, leading to a
persistent mid-single-digit sales decline and margins falling by
about 200 bps.  This would result in total adjusted debt to EBITDA
greater than 3.3x and FFO to debt below 20%.  We could also lower
the rating if the company adopts a more aggressive financial policy
as a result of its strategic initiative review, increasing debt by
more $200 million on a sustained basis," S&P said.

S&P could revise the outlook back to stable if it believes the
company's operating initiatives will be successful in stabilizing
or improving same-store sales trends, franchise initiative
adoption, and margins for 2016 and beyond.  This will also result
in strengthened free operating cash flow generation prospects, the
reduction in revolver borrowings, and improved credit metrics.


GOD'S ANGELS: Court Extends Plan Exclusivity to June 20
-------------------------------------------------------
At the behest of God's Angels In The Field, LLC, Bankruptcy Judge
Douglas D. Dodd for the Middle District of Louisiana ruled that the
exclusive period for the Debtor to file its plan of reorganization
is extended from April 15, 2016 to June 20, 2016, and the exclusive
period for the Debtor to obtain acceptance of its plan is extended
from June 13, 2016 to Aug. 19, 2016.  

God's Angels In The Field, LLC filed a Chapter 11 petition (Bankr.
M.D. La. Case No. 15-11248) on Oct. 12, 2015, and is represented by
Daniel Frazier, Jr., Esq. -- dfrazierloi@aol.com -- at Frazier Law
Office.


GOLDSTAR SOLUTIONS: 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 GoldStar Solutions, LLC.

GoldStar Solutions, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. W.D. Mo. Case No. 16-40843) on April 1,
2016.  The Debtor is represented by Colin N. Gotham, Esq., at Evans
& Mullinix, PA.


GOODRICH PETROLEUM: Can Access Cash Collateral to Pay Indebtedness
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Texas,
Houston Division, authorized Goodrich Petroleum Corporation and
Goodrich Petroleum Company, L.L.C., to use cash collateral and all
other Prepetition Collateral, solely and exclusively for the
disbursements set forth in the Budget which will terminate on May
16, 2016.

The Debtors are authorized and directed to pay Wells Fargo Bank,
N.A., as successor Administrative Agent to BNP Paribas under the
First Lien Credit Agreement and the other First Lien Secured
Parties an adequate protection payments in an amount equal to all
accrued and unpaid prepetition or postpetition interest, fees and
costs due and payable under the First Lien Credit Agreement, where
such payments calculated based on the Alternative Base Rate plus
2.25% Applicable Margin, provided that additional interest on the
First Lien Prepetition Indebtedness at the post-default rate of 2%
shall continue to accrue and shall be added to the aggregate
allowed amount of the First Lien Prepetition Indebtedness.

As additional adequate protection, the Debtors are also directed to
pay in cash the reasonable professional fees, expenses and
disbursements incurred by the First Lien Agent arising prior to and
subsequent to the Petition Date, including the professional fees
and expenses of Willkie Farr & Gallagher LLP, Deloitte CRG and
other professionals or advisors retained by or on behalf of the
First Lien Agent.

All sales and other dispositions, including casualty and
condemnation events, of the Collateral in excess of $250,000 shall
be in exchange for 100% cash consideration is conditioned upon an
agreement between the First Lien Agent and the Debtors for which
the Debtors shall pay 100% of the net cash proceeds of any
Collateral Sale outside of the ordinary course of the Debtors'
business to the First Lien Agent which proceeds shall be applied to
permanently reduce the first Lien Prepetition Indebtedness until
paid in full, subject to an appropriate order of the Court.

The Second Lien Trustees are granted security interests in and
liens on the Collateral to secure payment of an amount equal to the
Collateral Diminution, as adequate protection for the benefit of
the Second Lien Secured Parties. As additional adequate protection
to Franklin Advisors, Inc., in its capacity as investment manager
on behalf of the majority of holders of the Second Lien Notes, the
Debtors are directed to pay – only when the Debtors are longer
seeking to assume the Second Lien RSA or the RSA has been
terminated – in cash the professional fees expenses and
disbursements incurred by Franklin under the Second Lien Notes,
which shall be limited to the reasonable fees, expenses and
disbursements of Jones Day LLP, as counsel to Franklin, and
Intrepid Financial Partners, as financial advisor to Franklin.
However, these fees and expenses of Franklin will only become
effective if it is approved as part of the Final Order.

Moreover, the Court allowed a Post Carve Out in an aggregate amount
not to exceed $500,000 for the payment of all fees required to be
paid to the Clerk of the Bankruptcy Court and the U.S. Trustee, any
fees and disbursements incurred by a Chapter 7 Trustee in amount
not to exceed $25,000, all allowed unpaid fees and disbursements
incurred by professionals retained by the Debtors and the
Committee.

An aggregate of $50,000 from the Carve Out and the Collateral may
be used to pay any professional fees and expenses of the Committee
to investigate the claims and liens of the Prepetition Secured
Parties and the Debtors may use Cash Collateral to pay Allowed
Professional Fees incurred by the Debtors in order to respond to
any discovery requests by the Committee in connection with such
investigation.

A full-text copy of the Interim Cash Collateral Order dated April
18, 2016, with Budget is available at http://is.gd/JLzRkR

               About Goodrich

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

Goodrich Petroleum and its subsidiary Goodrich Petroleum Company,
L.L.C. filed voluntary petitions on April 15, 2016, in the United
States Bankruptcy Court for Southern District of Texas to pursue a
pre-packaged Chapter 11 plan of reorganization.  The Debtors have
filed a motion with the Court seeking joint administration of the
Chapter 11 Cases under the caption In re Goodrich Petroleum
Corporation, et. al (Case No. 16-31975).

Goodrich estimated $50 million to $100 million in assets and $500
million to $1 billion in liabilities.  The petition was signed by
Robert C. Turnham, Jr., president and chief operating officer.

Bankruptcy Judge Marvin Isgur presides over the case.  

Bradley Roland Foxman, Esq., Garrick Chase Smith, Esq., Harry A.
Perrin, Esq., David S. Meyer, Esq., and Lauren R. Kanzer, Esq., at
Vinson & Elkins LLP, serve as the Debtors' counsel.  Lazard Freres
& Co. LLC, serves as the Debtors' investment banker while BMC
Group, Inc., serves as notice, claims and balloting agent.


GRAFTECH INT’L: Moody's Cuts Corporate Family Rating to Caa1
--------------------------------------------------------------
Moody's Investors Service downgraded the ratings of GrafTech
International Ltd., including the Corporate Family Rating ("CFR")
to Caa1 from B3 and the $300 million Senior Unsecured Notes to Caa2
from Caa1. Moody's also affirmed the Speculative Grade Liquidity
Rating ("SGL") at SGL-4. The rating outlook remains negative.

"The credit agreement amendment improves GrafTech's liquidity
position, significantly so over the next few quarters, but market
conditions remain very weak and we expect the company will consume
cash until electrode prices improve meaningfully," said Ben Nelson,
Moody's Vice President and lead analyst for GrafTech International
Ltd.

Issuer: GrafTech International Ltd.

-- Corporate Family Rating, Downgraded to Caa1 from B3

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

-- Senior Secured Bank Credit Facility due 2019, Downgraded to B2

    (LGD2) from B1 (LGD2)

-- Senior Unsecured Regular Bond/Debenture due 2020, Downgraded
    to Caa2 (LGD5) from Caa1 (LGD5)

-- Speculative Grade Liquidity Rating, Affirmed SGL-4

-- Outlook, Remains Negative

RATINGS RATIONALE

Moody's downgraded the CFR to Caa1 from B3 based on the view that
business conditions in the graphite electrode industry have
weakened such that GrafTech's financial performance will be very
weak at least in the near-term, including negative EBITDA in 2016.
Moody's does not expect a significant near-term improvement in
electrode demand due to continued weak conditions in the steel
industry and the absence of commensurate capacity reduction in the
graphite electrode industry. The supply/demand balance of the
graphite electrode industry remains unfavorable for producers with
the timing and magnitude of any prospective improvement in industry
conditions being highly uncertain, particularly since much of the
world's highest cost production exists in regions where local
business conditions make it more difficult to rationalize capacity.
Moody's expects that trough cycle conditions will continue until
the supply/demand balance of the industry is brought back to more
favorable levels. Moody's also believes that the risk of distressed
debt purchases or exchanges will continue to rise absent an
improvement in the electrode market.

Moody's does not expect Brookfield Capital Partners Ltd.
("Brookfield"), which owns GrafTech through an affiliate, to
provide meaningful financial support in the near-term. Brookfield
acquired the company in a transaction that involved an equity
investment of nearly $1 billion, which included the cancellation of
convertible preferred stock; reduction of GrafTech's debt by more
than 25%. GrafTech amended the credit agreement again in April 2016
-- replacing ratio-based financial maintenance covenant with a
minimum EBITDA test that is below $0 in both 2016 and 2017. Moody's
believes this would allow GrafTech to wait until high-cost capacity
is shuttered by competitors instead of taking further leadership
actions. Brookfield clearly has the financial capacity to improve
GrafTech's credit profile and for this reason the company's credit
ratings could be subject to unusual volatility compared to rated
peers.

The Caa1 CFR is constrained primarily by the challenges of trying
to navigate an extended cyclical trough in the graphite electrode
industry with a leveraged balance sheet. GrafTech is highly reliant
on graphite electrodes for the majority of its earnings and cash
flow. Credit metrics are weak for the rating category, including
adjusted financial leverage above 9 times (Debt/EBITDA) for the
twelve months ended March 31, 2016, and expectations for credit
metrics to weaken further in 2016. The rating benefits from the
company's leading market positions within the graphite electrode
industry, solid mid-cycle profit margins supported by three
low-cost facilities, and geographic and operational diversity.

"The SGL-4 Speculative Grade Liquidity Rating reflects weak
liquidity to support operations based on our expectation that
GrafTech likely will generate negative EBITDA and consume cash in
2016. The company has a $225 million revolving credit facility, as
amended, and had $61 million of drawings at March 31 31, 2016. The
credit agreement has a minimum EBITDA test that varies by quarter,
but remains below $0 until March 2018. Moody's expects that the
company will draw on revolving credit to fund any cash consumption
and will maintain compliance with the revised financial maintenance
covenants. The SGL-4 is driven primarily by expectations for cash
consumption and our concerns about the cushion of compliance under
financial maintenance covenants in the event that electrode prices
continue a downward trend. Moody's concern about the company's
liquidity position over the next few quarters is lessened
significantly by the amendment, as Moody's foresaw covenant
violations under the previous covenant structure, but it remains
significant over a 12-18 month horizon inclusive of the next round
of price negotiations in early 2017."

The negative rating outlook reflects meaningful uncertainty in the
graphite electrode industry with no evident catalyst for
improvement in the near-term. Moody's could downgrade the rating if
market conditions do not improve meaningfully by early 2017, if the
company is not expected to generate positive EBITDA in 2017, or if
effective liquidity falls below $40 million. Failure to complete
asset sales could also have negative rating implications. Moody's
could upgrade the rating with expectations for adjusted financial
leverage sustained below 8 times and adequate near-term liquidity
-- including no expectation of covenant breaches in the near-term.

GrafTech International Ltd. manufactures graphite electrodes,
refractory products, needle coke products, advanced graphite
materials, and natural graphite products. The company has about
195k metric tons of electrode capacity. GrafTech is a wholly-owned
subsidiary of an affiliate of Brookfield Capital Partners Ltd.
Brookfield acquired GrafTech in a transaction that closed on August
17, 2015. Headquartered in Independence, Ohio, GrafTech generated
approximately $687 million of revenue in 2015.


GREAT BASIN: Note Holders OK Release of $1 Million Funds
--------------------------------------------------------
The holders of the senior secured convertible notes of Great Basin
Scientific, Inc., voluntarily removed restrictions on the Company's
use of an aggregate of $1 million previously funded to the Company
and authorized the release of those funds from the restricted
accounts of the Company, according to a Form 8-K report filed with
the Securities and Exchange Commission.

                       About Great Basin

Great Basin Scientific is a molecular diagnostic testing company
focused on the development and commercialization of its patented,
molecular diagnostic platform designed to test for infectious
disease, especially hospital-acquired infections.  The Company
believes that small to medium sized hospital laboratories, those
under 400 beds, are in need of simpler and more affordable
molecular diagnostic testing methods.  The Company markets a system
that combines both affordability and ease-of-use, when compared to
other commercially available molecular testing methods, which the
Company believes will accelerate the adoption of molecular testing
in small to medium sized hospitals.  The Company's system includes
an analyzer, which it provides for its customers' use without
charge in the United States, and a diagnostic cartridge, which the
Company sells to its customers.

Great Basin reported a net loss of $57.9 million in 2015 following
a net loss of $21.7 million in 2014.

As of Dec. 31, 2015, Great Basin had $28.6 million in total assets,
$51.8 million in total liabilities and a total stockholder's
deficit of $23.2 million.

Mantyla McReynolds, LLC, in Salt Lake City, Utah, issued a "going
concern" opinion in its report on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has incurred substantial losses from operations causing
negative working capital and negative operating cash flows.  These
issues raise substantial doubt about its ability to continue as a
going concern.


GREYSTONE LOGISTICS: Reports $5.28 Million Sales for Third Quarter
------------------------------------------------------------------
Greystone Logistics, Inc., reported sales for the third quarter
ending Feb. 29, 2016, of $5,280,480 compared to $3,685,044 for the
prior period for an increase of $1,595,436.  Pallet sales were
$5,122,785 or 97% of total sales, in the quarter ended February 29,
2016 compared to $3,520,056, or 96% of total sales, in the prior
period for an increase of $1,602,729.

Sales for the nine months ended Feb. 29, 2016, were $15,270,671
compared to $13,676,492 in the nine months ended Feb. 28, 2015, for
an increase of $1,594,179.  Pallet sales were $14,999,740, or 98%
of total sales, in nine months ended February 29, 2016 compared to
$12,466,944, or 91% of total sales, in prior period for an increase
of $2,532,796.

Greystone's pallet sales to its major customer in the nine months
ended Feb. 29, 2016, were 31% of total sales (32% of pallet sales)
compared to 40% of total sales (44% of pallet sales) in prior
period. Pallet sales to the major customer decreased by
approximately $0.7 million from nine months ended Feb. 28, 2015,
to the nine months ended Feb. 29, 2016, while pallet sales to new
and existing customers provided the basis for the increase in
pallet sales in the current fiscal year.

For the third quarter ended Feb. 29, 2016, Greystone recorded a net
loss available to common stockholders of $(200,528), or $(0.01) per
share, compared to net income of $198,859, or $0.01 per share, in
the prior period. For the nine months ended February 29, 2016,
Greystone recorded a net loss available to common stockholders of
$(314,263), or $(0.01) per share, compared to $(382,764), or
$(0.01) per share, for the nine months ended February 28, 2015.

"During the third quarter, Greystone acquired an additional
injection molding machine at a cost of $2.5 million to accommodate
the needs of a new customer," stated Warren Kruger CEO.  "There
were substantial costs in preparation for full implementation of
the new equipment which affected the margins for the third quarter.
The equipment became fully operational in March 2016.  We
anticipate higher sales and better margins in the fourth quarter
ending May 31, 2016.  We continue to invest in our company's
future."

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

                     http://is.gd/B7CCCj

                  About Greystone Logistics

Tulsa, Okla.-based Greystone Logistics, Inc. (OTC BB: GLGI.OB -
News) -- http://www.greystonelogistics.com/-- manufactures and
sells plastic pallets through its wholly owned subsidiary,
Greystone Manufacturing, LLC.  Greystone sells its pallets through
direct sales and a network of independent contractor distributors.
Greystone also sells its pallets and pallet leasing services to
certain large customers direct through its President, Senior Vice
President of Sales and Marketing and other employees.

For the nine months ended Feb. 29, 2016, the Company reported a net
loss attributable to common stockholders of $314,263 on $15.3
million of sales compared to a net loss attributable to common
stockholders of $382,764 on $13.7 million of sales for the nine
months ended Feb. 28, 2015.

As of Feb. 28, 2016, Greystone had $19.97 million in total assets,
$21.3 million in total liabilities and a total deficit of $1.33
million.


GUIDED THERAPEUTICS: Inks Exchange Agreements with Stockholders
---------------------------------------------------------------
Between April 27, 2016, and May 3, 2016, Guided Therapeutics, Inc.
entered into various agreements with certain holders of the
Company's Series C preferred stock, including John Imhoff, the
chairman of the Company's board of directors, pursuant to which
those holders separately agreed to exchange each share of Series C
preferred stock held for 2.25 shares of the Company's newly created
Series C1 preferred stock and 9,600 shares of the Company's common
stock.

In connection with the Series C Exchanges, each holder also agreed
to roll over the $1,000 stated value per share of the holder's
shares of Series C1 preferred stock into the next qualifying
financing undertaken by the Company on a dollar-for-dollar basis
and, except in the event of an additional $50,000 cash investment
in the Company by the holder, to execute a customary "lockup"
agreement in connection with the financing.  In total, for 1,916
shares of Series C preferred stock to be surrendered, the Company
will issue 4,312 shares of Series C1 preferred stock and 18,396,800
shares of common stock.

The Series C1 preferred stock has terms that are substantially the
same as the Series C preferred stock, except that the Series C1
preferred stock does not pay dividends or at-the-market "make-whole
payments."

Separately, on April 27, 2016, the Company entered into a Rollover
and Amendment Agreement with another holder of Series C preferred
stock, Aquarius Opportunity Fund, pursuant to which Aquarius agreed
to roll over any shares of Series C preferred stock (stated value
plus make-whole dividend), as well as any remaining principal and
accrued interest on the Company's convertible promissory note
Aquarius holds, into the Company's next financing, all on a
dollar-for-dollar basis, as long as the next financing involves at
least $1 million in cash from investors unaffiliated with Aquarius.
Aquarius also agreed to return to the Company for cancelation
warrants exercisable for 7,148,813 shares of the Company's common
stock that it holds.  Except in the event of an additional $50,000
cash investment by Aquarius in the Company's next financing,
Aquarius has agreed to execute a customary "lockup" agreement in
connection with the financing.  Finally, Aquarius, as the holder of
a majority of the outstanding Series C preferred stock, agreed to
amend the Series C stock purchase agreement to eliminate any
participation rights held by the Series C shareholders and to waive
operation of certain anti-dilution provisions of the Series C.

The Series C1 Preferred Stock has the terms set forth in the
Certificate of Designations of Preferences, Rights and Limitations
of Series C1 Convertible Preferred Stock, which was filed with the
Secretary of State of the State of Delaware on May 3, 2016.

Pursuant to the Preferred Stock Designation, shares of Series C1
preferred stock will be convertible into the Company's common stock
by their holder at any time.  The initial conversion price is
expected to be $0.05010 per share, such that each share of
Preferred Stock would convert into 19,961 shares of the Company's
common stock, subject to customary adjustments, including for any
accrued but unpaid dividends and pursuant to certain anti-dilution
provisions, as set forth in the Preferred Stock Designation.

Holders will be entitled to receive dividends (other than common
stock dividends) on shares of Series C1 preferred stock on an
as-if-converted-to-common-stock basis equal to and in the same form
as dividends actually paid on shares of the common stock.  The
Series C1 preferred stock generally has no voting rights except as
required by Delaware law.  The Series C1 preferred stock ranks
equally with the Company's Series C preferred stock and, upon the
Company's liquidation or sale to or merger with another
corporation, each share of Series C1 preferred stock will be
entitled to a liquidation preference of $1,000 per share, plus any
accrued but unpaid dividends.

                    About Guided Therapeutics

Guided Therapeutics, Inc. (OTC BB and OTC QB: GTHP)
-- http://www.guidedinc.com/-- is developing a rapid and painless
test for the early detection of disease that leads to cervical
cancer.  The technology is designed to provide an objective result
at the point of care, thereby improving the management of cervical
disease.  Unlike Pap and HPV tests, the device does not require a
painful tissue sample and results are known immediately.  GT has
also entered into a partnership with Konica Minolta Opto to
develop a non-invasive test for Barrett's Esophagus using the
LightTouch technology platform.

Guided Therapeutics reported a net loss attributable to common
stockholders of $9.50 million on $42,000 of contract and grant
revenue for the year ended Dec. 31, 2015, compared to a net loss
attributable to common stockholders of $10.03 million on $65,000
of contract and grant revenue for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Guided Therapeutics had $2.56 million in total
assets, $8.12 million in total liabilities and a $5.56 million
total stockholders' deficit.


HALSEY ST. MANAGEMENT: Case Summary & 4 Unsecured Creditors
-----------------------------------------------------------
Debtor: Halsey St. Management B Corp.
        3811 13th Ave
        Brooklyn, NY 11218

Case No.: 16-41970

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 5, 2016

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

Judge: Hon. Hershey Lord

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 Michael Fernandez, officer.

A list of the Debtor's four unsecured creditors is available for
free at http://bankrupt.com/misc/nyeb16-41970.pdf


HANESBRANDS INC: S&P Affirms 'BB' CCR & Alters Outlook to Negative
------------------------------------------------------------------
S&P Global Ratings affirmed its corporate credit rating on Winston
Salem, N.C.-based Hanesbrands Inc. at 'BB', and revised the outlook
to negative from stable.

S&P also assigned issue-level and recovery ratings on the proposed
$1.5 billion unsecured notes of 'BB' and '3', respectively, which
indicates S&P's expectation for investors to receive meaningful
(50% to 70%, at the high end of the range) recovery in the event of
payment default.

At the same time, S&P affirmed the existing issue-level rating on
the company's $1 billion unsecured debt at 'BB'.  The recovery
rating remains unchanged at '3'.

In addition, S&P affirmed its issue-level ratings on the company's
first-lien $1 billion revolver expiring April 2020, $725 million
term loan due April 2020, $425 million term loan due April 2022,
and Euro $500 million (Euro tranche) term loan due August 2021 at
'BBB-'.  The '1' recovery rating continues to indicate S&P's
expectation of very high (90% to 100%) recovery in the event of
payment default.

"Our negative outlook reflects the deterioration of credit metrics
and the possibility Hanesbrands may not be able to strengthen them
should it incur difficulties integrating acquisitions," said S&P
Global Ratings analyst Peter Deluca.  "We expect the company's pro
forma debt-to-EBITDA leverage to be 4.7x, up from 4.2x at the end
of its fiscal first quarter.  We could downgrade the company should
leverage not approach 4.0x by the end of its fiscal fourth quarter
ending Jan. 2, 2017.  We could revise our outlook to stable over
the next year if the company's plans to integrate acquisitions are
successful, with strong free operating cash flow growth such that
debt-to-EBITDA is sustained below 4x."


HCSB FINANCIAL: Announces Follow-On Offering of 23.4M Shares
------------------------------------------------------------
HCSB Financial Corporation announced that it has filed a
registration statement with the Securities and Exchange Commission
for a follow-on offering to provide shareholders, employees, and
others in the local community the opportunity to invest in the
Company at the same price and on the same terms as its recently
completed private offering.  On April 11, 2016, the Company sold
approximately 359,468,443 shares of common stock and 905,315.57
shares of a new series of convertible perpetual preferred stock,
Series A, of HCSB Financial Corporation to certain institutional
and other accredited investors, resulting in gross proceeds to the
Company of approximately $45 million.

The Company will sell up to 23,384,301 shares of common stock in
the follow-on offering at a price of $0.10 per share.  The Company
currently anticipates a minimum investment of $10,000 per investor,
which it may waive in its sole discretion.  The follow-on offering
is not a rights offering, and the Company reserves the right to
accept or reject subscriptions in whole or in part for any reason.
The net proceeds from this follow-on public offering will be used
for general corporate and operational purposes.

Once the registration statement is declared effective, investors
will have 30 days to elect to participate in the follow-on
offering.  The follow-on offering will be made only by means of a
prospectus, which may be obtained from the Company, when it is
available, by contacting Denise Floyd, Senior Vice President, at
HCSB Financial Corporation, P.O. Box 218, Loris, SC 29569, or
dfloyd@horrycountystatebank.com or at (843) 716-6103.

A registration statement relating to these securities has been
filed with the Securities and Exchange Commission but has not yet
become effective.  These securities may not be sold, nor may offers
to buy be accepted, prior to the time the registration statement
becomes effective.

                     About HCSB Financial

Loris, South Carolina-based HCSB Financial Corporation was
incorporated on June 10, 1999, to become a holding company for
Horry County State Bank.  The Bank is a state chartered bank which
commenced operations on Jan. 4, 1988.  From its 13 branch
locations, the Bank offers a full range of deposit services,
including checking accounts, savings accounts, certificates of
deposit, money market accounts, and IRAs, as well as a broad range
of non-deposit investment services.  During the third quarter of
2011, the Bank closed its Covenant Towers branch located at Myrtle
Beach.  All deposits were transferred to the Bank's Myrtle Beach
branch and the Bank does not expect any disruption of service in
that market for its customers.

HCSB Financial reported a net loss available to common shareholders
of $1.75 million on $13.7 million of total interest income for the
year ended Dec. 31, 2015, compared to a net loss available to
common shareholders of $1.40 million on $16.09 million of total
interest income for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, HCSB Financial had $362 million in total
assets, $374 million in total liabilities and a total shareholders'
deficit of $12.3 million.

Elliott Davis Decosimo, LLC, in Columbia, South Carolina, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has suffered recurring losses that have eroded regulatory
capital ratios and the Company's wholly owned subsidiary, Horry
County State Bank, is under a regulatory Consent Order with the
Federal Deposit Insurance Corporation (FDIC) that requires, among
other provisions, capital ratios to be maintained at certain
levels.  As of December 31, 2015, the Company's subsidiary is
considered significantly undercapitalized based on its regulatory
capital levels.  These considerations raise substantial doubt about
the Company's ability to continue as a going concern.  The Company
also has deferred interest payments on its junior subordinated
debentures for 20 consecutive quarters as of December 31, 2015.
Under the terms of the debentures, the Company may defer payments
for up to 20 consecutive quarters without creating a default.
Payment for the 20th quarterly interest deferral period was due in
March 2016.  The Company failed to pay the deferred and compounded
interest at the end of the deferral period, and the trustees of the
corresponding trusts, have the right, after any applicable grace
period, to exercise various remedies, including demanding immediate
payment in full of the entire outstanding principal amount of the
debentures.  The balance of the debentures and accrued interest as
of December 31, 2015 were $6,186,000 and $901,000, respectively.
These events also raise substantial doubt about the Company's
ability to continue as a going concern as of December 31, 2015.


HCSB FINANCIAL: Two Directors Resign from Board
-----------------------------------------------
Tommie W. Grainger and Gywn M. McCutchen resigned from their
positions as directors of HCSB Financial Corporation and Horry
County State Bank on April 28, 2016, according to a regulatory
filing with the Securities and Exchange Commission.  Mr. Grainger's
and Mr. McCutchen's decisions to resign from the boards of
directors were for personal reasons and did not arise or result
from any disagreement with the Company on any matters relating to
the Company's operations, policies, or practices.  The Company is
grateful for Mr. Grainger's and Mr. McCutchen's many years of
dedicated service to the Company and the Bank.

                      About HCSB Financial

Loris, South Carolina-based HCSB Financial Corporation was
incorporated on June 10, 1999, to become a holding company for
Horry County State Bank.  The Bank is a state chartered bank which
commenced operations on Jan. 4, 1988.  From its 13 branch
locations, the Bank offers a full range of deposit services,
including checking accounts, savings accounts, certificates of
deposit, money market accounts, and IRAs, as well as a broad range
of non-deposit investment services.  During the third quarter of
2011, the Bank closed its Covenant Towers branch located at Myrtle
Beach.  All deposits were transferred to the Bank's Myrtle Beach
branch and the Bank does not expect any disruption of service in
that market for its customers.

HCSB Financial reported a net loss available to common shareholders
of $1.75 million on $13.7 million of total interest income for the
year ended Dec. 31, 2015, compared to a net loss available to
common shareholders of $1.40 million on $16.09 million of total
interest income for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, HCSB Financial had $362 million in total
assets, $374 million in total liabilities and a total shareholders'
deficit of $12.3 million.

Elliott Davis Decosimo, LLC, in Columbia, South Carolina, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that the
Company has suffered recurring losses that have eroded regulatory
capital ratios and the Company's wholly owned subsidiary, Horry
County State Bank, is under a regulatory Consent Order with the
Federal Deposit Insurance Corporation (FDIC) that requires, among
other provisions, capital ratios to be maintained at certain
levels.  As of December 31, 2015, the Company's subsidiary is
considered significantly undercapitalized based on its regulatory
capital levels.  These considerations raise substantial doubt about
the Company's ability to continue as a going concern.  The Company
also has deferred interest payments on its junior subordinated
debentures for 20 consecutive quarters as of December 31, 2015.
Under the terms of the debentures, the Company may defer payments
for up to 20 consecutive quarters without creating a default.
Payment for the 20th quarterly interest deferral period was due in
March 2016.  The Company failed to pay the deferred and compounded
interest at the end of the deferral period, and the trustees of the
corresponding trusts, have the right, after any applicable grace
period, to exercise various remedies, including demanding immediate
payment in full of the entire outstanding principal amount of the
debentures.  The balance of the debentures and accrued interest as
of December 31, 2015 were $6,186,000 and $901,000, respectively.
These events also raise substantial doubt about the Company's
ability to continue as a going concern as of December 31, 2015.


HUFFMAN CONSTRUCTION: Court Lifts Automatic Stay for W. Claybar
---------------------------------------------------------------
Back on March 6, 2015, the the United States District Court for the
Southern District of Alabama, Southern Division, entered an Order
staying this matter as to defendant Huffman Construction, Inc.,
upon receiving written notice that such defendant had filed a
Chapter 11 petition in the U.S. Bankruptcy Court for the Northern
District of Indiana a few days earlier.

In a subsequent ruling dated October 23, 2015, the Court allowed
Huffman Construction's counsel of record to withdraw from the
representation based on counsel's showing of a complete breakdown
in the attorney-client relationship. The October 23 Order cautioned
Huffman Construction as follows: "Upon the lifting of the automatic
stay and any resumption of these proceedings against Huffman
Construction, that defendant will be required to make arrangements
to retain new counsel promptly, given the prohibition on
corporations appearing pro se in federal litigation.

Plaintiffs Warren Claybar, et al., filed a Status Report reflecting
that Huffman Construction's Chapter 11 bankruptcy petition was
dismissed on March 17, 2016, and that Huffman Construction has not
moved to reinstate the bankruptcy proceeding or set aside the
dismissal order.

Chief District Judge William H. Steele of the United States
District Court for the Southern District of Alabama, Southern
Division vacated and lifted the automatic stay of these proceedings
against defendant Huffman Construction, based on the dismissal of
its bankruptcy petition and further ordered as follows:

   1. Huffman Construction retain substitute counsel immediately if
it wishes to be heard or to defend in this action. Huffman
Construction is therefore ordered, on or before May 5, 2016, to
notify the Court in writing of the name, address and telephone
number of the substitute counsel it has retained to represent its
interests in this action.

   2. Counsel for both sides are directed to meet in person or by
telephone, and to file a supplemental report setting forth the
parties' positions on such topics as what (if any) discovery
remains outstanding, how long it should take to complete such
discovery activities, when the parties request setting of the Final
Pretrial Conference and trial, and whether any other unresolved
issues exist that reasonably require judicial resolution prior to
the Final Pretrial Conference. In terms of the form Report of
Parties' Planning Meeting found at docket entry 11 in the court
file, the parties' written supplemental report must address, at a
minimum, items #2, 3, 4, 8, 9, 10, 11 and 12. This supplemental
report must be filed on or before May 20, 2016.

   3. Defendant is cautioned that failure to comply with this Order
in a complete and timely manner may result in imposition of
sanctions, up to and including entry of default and default
judgment, against it upon motion by plaintiffs.

   4. The Clerk's Office is directed to mail a copy of this Order
to Huffman Construction, Inc., c/o Michael R. Huffman, 10149 S. 300
East, Warren, IN 46792."

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

The case is WARREN CLAYBAR, et al., Plaintiffs, v. MICHAEL R.
HUFFMAN, et al., Defendants, Civil Action 14-0205-WS-C.

Warren Claybar, Plaintiff, is represented by Brian McEwing, Esq. --
bmcewing@dlalawyers.com -- Donna Adelsberger & Associates, P.C.,
John P. Kavanagh, Jr., Esq. -- john.kavanagh@burr.com -- Burr
Forman & Kasee Sparks Heisterhagen, Esq. --
kasee.heisterhagen@burr.com -- Burr & Forman, LLP.

Rian Glasscock, Plaintiff, is represented by Brian McEwing, John P.
Kavanagh, Jr., Burr Forman & Kasee Sparks Heisterhagen, Burr &
Forman, LLP.

Halley Moore, Plaintiff, is represented by Brian McEwing, John P.
Kavanagh, Jr., Burr Forman & Kasee Sparks Heisterhagen, Burr &
Forman, LLP.

Huffman Construction, Inc., Defendant, Pro se.

Huffman Construction, Inc., sought protection under Chapter 11 of
the Bankruptcy Code on Feb. 24, 2015 (Bankr. N.D. Ind., Case No.
15-10261).  The Debtor's counsel is David R. Krebs, Esq., at
Tucker
Hester Baker & Krebs, LLC, in Indianapolis, Indiana.  A list of
the
Debtor's 11 largest unsecured creditors is available
for free at http://bankrupt.com/misc/innb15-10261.pdf


ICAGEN INC: Presented at Taglich Brothers Annual Conference
-----------------------------------------------------------
Icagen, Inc., made an investor presentation at the Taglich Brothers
13th Annual Investment Conference on May 3, 2016.  A copy of the
slides used at the presentation is available for free at:

                       http://is.gd/naBP3s

                          About Icagen

Icagen, Inc., formerly known as XRpro Sciences, Inc., is a
biopharmaceutical company, focuses on the discovery, development,
and commercialization of orally-administered small molecule drugs
that modulate ion channel targets.  Its drug candidates include
ICA-105665, a small molecule compound that targets specific KCNQ
ion channels for the treatment of epilepsy and pain, which is in
Phase II clinical trial stage; and a compound that targets the
sodium channel Nav1.7 for the treatment of pain, which is in Phase
I clinical trial stage.

Icagen reported a net loss applicable to common stock of $8.72
million on $1.58 million of sales for the year ended Dec. 31, 2015,
compared to a net loss applicable to common stock of $569,288 on
$541,794 of sales for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Icagen had $12.9 million in total assets,
$11.2 million in total liabilities, $133,350 in convertible
redeemable preferred stock, and $1.57 million in total
stockholders' equity.

RBSM LLP, in New York, issued a "going concern" qualification on
the consolidated financial statements for the year ended Dec. 31,
2015, citing that the Company has incurred recurring operating
losses, which has resulted in an accumulated deficit of
approximately $22.143 million at Dec. 31, 2015.  These conditions
among others raise substantial doubt about the Company's ability to
continue as a going concern.


ILLINOIS POWER: Dynegy Reports First Quarter Results
----------------------------------------------------
On May 3, 2016, Dynegy Inc., the indirect parent of Illinois Power
Generating Company announced its first quarter financial results
and affirmed its 2016 guidance estimates.  Dynegy's earnings
presentation slides makes reference to potential restructuring
options and certain financial information regarding the Company.

Dynegy reported a net loss attributable to its common stockholders
of $15 million on $1.12 billion of revenues for the three months
ended March 31, 2016, compared to a net loss attributable to the
Company's common stockholders of $185 million on $632 million of
revenues for the same period in 2015.

Dynegy reported for the 2016 first quarter, consolidated Adjusted
EBITDA of $251 million, compared to $85 million for the 2015 first
quarter.  The $166 million increase in Adjusted EBITDA was
primarily driven by assets the Company acquired during the second
quarter of 2015 and higher capacity sales in the IPH segment.
Partially offsetting these improvements were lower generation
volumes at the Coal and IPH segments and lower spark spreads in the
Gas segment, primarily at our Independence facility, resulting from
mild winter weather.  The operating income for the 2016 first
quarter was $145 million compared to an operating loss of $40
million in the 2015 first quarter.  The net loss attributable to
Dynegy Inc. for the 2016 first quarter was $10 million, compared to
$180 million for the 2015 first quarter.

"Mild winter weather during the first quarter impacted both our
energy volumes and power prices across our key markets.  However,
the performance of the plants acquired last year continues to
significantly contribute to the Company's favorable financial
performance.  As a result, Dynegy remains on track to meet our 2016
guidance range for Adjusted EBITDA and Free Cash Flow," said Dynegy
President and Chief Executive Officer, Robert C. Flexon.

"Our effort to market and sell capacity in MISO has been very
successful as borne out by the Good Energy transaction leaving us
less dependent on the MISO capacity market design and annual
auction process, which continues to favor traditional utilities in
the surrounding states.  The recently completed auction clearly
defined which of our assets are needed in MISO, and where we need
to evaluate alternatives for the balance of the MISO portfolio,"
Flexon added.

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

                       http://is.gd/0lGobR

                       About Illinois Power

Illinois Power Generating Company is an electric generation
subsidiary of Illinois Power Resources, LLC, which is an indirect
wholly-owned subsidiary of Dynegy Inc.  The Company is
headquartered in Houston, Texas and were incorporated in Illinois
in March 2000.  It owns and operates a merchant generation business
in Illinois.  The Company has an 80 percent ownership interest in
Electric Energy, Inc., which it consolidates for financial
reporting purposes.  EEI operates merchant electric generation
facilities in Illinois and FERC-regulated transmission facilities
in Illinois and Kentucky.  The Company also consolidates its
wholly-owned subsidiary, Coffeen and Western Railroad Company, for
financial reporting purposes.

Illinois Power reported a net loss of $563 million on $534 million
of revenues for the year ended Dec. 31, 2015, compared to a net
loss of $48 million on $648 million of revenues for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, Illinois Power had $1.23 billion in total
assets, $1.08 billion in total liabilities and $141 million in
total equity.


IMS HEALTH: S&P Puts 'BB-' CCR on CreditWatch Positive
------------------------------------------------------
S&P Global Ratings said that it placed its 'BB-' corporate credit
rating and issue-level ratings on IMS Health Inc., and the ratings
on subsidiaries IMS AG and IMS Japan K.K., on CreditWatch with
positive implications.

The CreditWatch placement follows the announcement that IMS Health
and Quintiles (BBB-/Stable/--) plan to merge in an all-stock
transaction, and reflects the potential for the ratings on IMS
Health Inc. to be raised if the transaction is completed.  S&P
affirmed the ratings on Quintiles with a stable outlook earlier.

"We are likely to consider IMS a core subsidiary of Quintiles IMS
Holdings Inc., supporting a three notch upgrade to the corporate
credit rating upon close," said S&P Global Ratings credit analyst
Tulip Lim.

S&P will likely resolve the CreditWatch placement on IMS once the
transaction has closed.


INTERNATIONAL MANUFACTURING: Judge Ralph R. Mabey Named Mediator
----------------------------------------------------------------
Judge Robert S. Bardwil of the U.S. Bankruptcy Court for the
Eastern District of California, Sacramento Division, authorized the
appointment of Honorable Ralph R. Mabey, a member in the Kirton
McConkie law firm, as mediator.

Chapter 11 Trustee Beverly N. McFarland had sought Judge Mabey's
appointment as mediator, to mediate a settlement of the bankruptcy
estate's fraudulent transfer adversary action pending against
Bridge Bank, N.A.

Judge Bardwil authorized the Chapter 11 Trustee to pay the
bankruptcy estate's portion of both Judge Mabey's fees at his
reduced rate of $965 per hour and his expenses.

Beverly N. McFarland, Chapter 11 Trustee, is represented by:

          Thomas A. Willoughby, Esq.
          Jennifer E. Niemann, Esq.
          FELDERSTEIN FITZGERALD WILLOUGHBY &
          PASCUZZI LLP
          400 Capitol Mall, Suite 1750
          Sacramento, CA 95814
          Telephone: (916)329-7400
          Facsimile: (916)329-7435
          E-mail: twilloughby@ffwplaw.com

              About International Manufacturing Group

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.

Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.  Lawyers at
Pachulski Stang Ziehl & Jones LLP represent the Official Committee
of Unsecured Creditors.


INVENTIV HEALTH: To Hold Q1 Conference Call on May 16
-----------------------------------------------------
inVentiv Health, Inc. will hold a conference call at 2:00 p.m.
Eastern Time on May 16, 2016, during which it will discuss the
Company's financial results for the first quarter of 2016.

The U.S. dial-in for the call is (877) 498-6434 ((929) 387-3953 for
non-U.S. callers) and the passcode is 5306917.  A replay of the
conference call will be available until May 23, 2016, by dialing
(855) 859-2056 ((404) 537-3406 for non-U.S. callers) and the
passcode is 5306917.

                      About inVentiv Health

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

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


Inventiv Health reported a net loss attributable to the Company of
$151 million on $1.99 billion of net revenues for the year ended
Dec. 31, 2015, compared to a net loss attributable to the Company
of $190 million on $1.80 billion of net revenues for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, inVentiv had $2.15 billion in total assets,
$2.92 billion in total liabilities and a $771.10 million in total
stockholders' deficit.

                           *    *    *

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

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


ISTAR INC: Incurs $21.2 Million Net Loss in First Quarter
---------------------------------------------------------
iStar Inc. filed with the Securities and Exchange Commission its
quarterly report on Form 10-Q disclosing a net loss allocable to
common shareholders of $21.18 million on $114.64 million of total
revenues for the three months ended March 31, 2016, compared to a
net loss allocable to common shareholders of $22.55 million on
$112.85 million of total revenues for the same period in 2015.

As of March 31, 2016, iStar Inc. had $5.49 billion in total assets,
$4.46 billion in total liabilities, $8.98 million in redeemable
noncontrolling interests and $1.01 billion in total equity.

Capital Markets

The Company continued its stock repurchase activity, completing
open market purchases during the first quarter of 5.8 million
shares for $58.1 million or an average of $9.94 per share.

In March, the Company repaid its $261.4 million of 5.875% Senior
Unsecured Notes at maturity using available cash.  In addition, in
March the Company issued $275.0 million of 6.50% Senior Unsecured
Notes due July 2021.  Proceeds from the offering were used to repay
$5.0 million of the Company's secured revolving facility, pay
related financing costs and, subsequent to the end of the quarter,
repay in full its $265.0 million of Senior Unsecured Notes due July
2016.

The Company's weighted average cost of debt for the first quarter
was 5.5%.  The Company's leverage was 2.2x at the end of the
quarter, within the Company's targeted range of 2.0x - 2.5x.

Investment Activity

During the quarter, iStar funded a total of $147.8 million
associated with new investments, prior financing commitments and
ongoing development.  In addition, the portfolio generated $131.8
million of repayments and sales over the same period.

At March 31, the Company had $591.2 million of unrestricted cash,
of which the Company used $265.0 million subsequent to the end of
the quarter to repay in full its Senior Unsecured Notes due July
2016.

Portfolio Overview

At March 31, 2016, the Company's portfolio totaled $5.11 billion,
which is gross of $468.5 million of accumulated depreciation and
$36.6 million of general loan loss reserves.

Real Estate Finance

At March 31, 2016, the Company's real estate finance portfolio
totaled $1.67 billion, gross of general loan loss reserves.  The
portfolio included $1.61 billion of performing loans with a
weighted average maturity of 2.2 years.  The performing loans were
comprised of 59% first mortgages / senior loans and 41% mezzanine /
subordinated debt.  The performing loans had a weighted average
last dollar loan-to-value ratio of 68% and generated an 8.5% yield
for the quarter.  The Company invested $94.3 million and received
$79.7 million of proceeds within its real estate finance portfolio
during the quarter.

At March 31, 2016, the Company's non-performing loans (NPLs) had a
carrying value of $68.3 million.  The Company recorded a $1.5
million provision for loan losses during the quarter.  At March 31,
2016, loan loss reserves totaled $109.7 million, comprised of $36.6
million of general reserves and $73.1 million of asset specific
reserves.

Net Lease

At the end of the quarter, iStar's net lease portfolio totaled
$1.55 billion, gross of $382.5 million of accumulated depreciation.
During the quarter, the Company sold net lease assets for proceeds
of $10.6 million and recorded gains of $4.9 million.

The Company's net lease portfolio totaled 18 million square feet
across 33 states.  Occupancy for the portfolio was 96.6% at the end
of the quarter, with a weighted average remaining lease term of
14.6 years.  The net lease portfolio generated an unleveraged yield
of 7.9% for the quarter.

Operating Properties

At the end of the quarter, iStar's operating properties portfolio
totaled $702.5 million, gross of $79.7 million of accumulated
depreciation, and was comprised of $570.8 million of commercial and
$131.7 million of residential real estate properties.  During the
quarter, the Company invested $18.2 million within its operating
properties portfolio and received $25.5 million of proceeds from
sales.

Commercial Operating Properties

The Company's commercial operating properties represent a diverse
pool of assets across a broad range of geographies and collateral
types including office, retail and hotel properties.  These
properties generated $26.0 million of revenue offset by $18.6
million of expenses during the quarter.  iStar generally seeks to
reposition these assets with the objective of maximizing their
values through the infusion of capital and/or intensive asset
management efforts resulting in value realization upon sale.

At the end of the quarter, the Company had $140.9 million of
stabilized commercial operating properties that were 85% leased and
generated an unleveraged yield of 8.5% for the quarter.  The
remainder of the commercial operating portfolio was comprised of
$429.9 million of transitional properties that were 66% leased and
generated an unleveraged yield of 3.5% for the quarter.  iStar is
actively working to lease up and stabilize these properties.

During the quarter, the Company executed commercial operating
property leases covering approximately 400,000 square feet.


Residential Operating Properties

At the end of the quarter, the residential operating portfolio was
comprised of condominium units generally located within luxury
projects in major U.S. cities.  During the quarter, iStar sold 19
condominium units, resulting in $19.7 million of proceeds and
recorded $5.1 million of income.  In addition, the Company recorded
$2.6 million of expenses on its condominiums, primarily associated
with carry costs.

Land & Development

At the end of the quarter, the Company's land & development
portfolio totaled $1.13 billion, with seven projects in production,
10 in development and 13 in the pre-development phase. These
projects are collectively entitled for approximately 30,000 lots
and units.

For the quarter, the Company's land and development portfolio
generated $14.9 million of revenues, offset by $11.6 million of
cost of sales, plus $6.7 million of earnings from land development
equity method investments.  This resulted in total gross margin and
earnings from equity method investments of $10.0 million compared
to $4.0 million for the same period last year. During the quarter,
the Company invested $34.2 million in its land portfolio.

The Company has continued to make progress on its land development
portfolio, highlighted by two high-profile projects:

Coney Island Concert Hall and Amphitheater

Construction is nearing completion on iStar’s 5,000-seat concert
amphitheater and public park along the boardwalk in Coney Island.
In addition, work continues on the renovation of the historic
Childs building, transforming it into a 60,000 square foot bar,
restaurant and event space adjacent to the amphitheater that will
serve as a year round anchor to the on-going Coney Island
renaissance.  Upon completion, iStar will enter into a long-term
operating lease with the city, and has partnered with Live Nation
and Brooklyn Sports and Entertainment to provide full year
programming and management.  Currently over 40 concerts and events
have already been booked for this summer, including kick-off
concerts featuring Sting, Peter Gabriel and Ziggy Marley.  The
opening of the amphitheater, park and Childs building are part of
the Company's larger strategy to accelerate development on its
adjacent land holdings, currently targeted for over one million
square feet of residential housing.

The Asbury at Asbury Park

Construction is also nearing completion on The Asbury, iStar’s
highly anticipated 110-room hotel/multi-venue adult playground in
Asbury Park, NJ.  The Asbury includes an outdoor movie theater and
nightclub on two separate roof decks, indoor and outdoor event
spaces, an integrated lobby bar, lounge and gameroom and an outdoor
biergarten and pool party space.  The Asbury represents an
important milestone in iStar's plan to accelerate Asbury Park's
rebirth as one of the great beach cities on the East Coast, and is
a key amenity for the approximately 30 acres of ocean and
waterfront land iStar controls, capable of supporting over two
thousand new residential units.

Annual Meeting

The Company will host its Annual Meeting of Shareholders at the
Harvard Club of New York City, located at 35 West 44th Street, New
York, New York 10036 on Wednesday, May 18, 2016 at 9:00 a.m. ET.
All shareholders are cordially invited to attend.

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

                       http://is.gd/H88Z7D

                        About iStar Inc.

New York-based iStar Inc., formerly known as iStar Financial Inc.
(NYSE: SFI) provides custom-tailored investment capital to high-end
private and corporate owners of real estate, including senior and
mezzanine real estate debt, senior and mezzanine corporate capital,
as well as corporate net lease financing and equity.  The Company,
which is taxed as a real estate investment trust, provides
innovative and value added financing solutions to its customers.

iStar Inc. reported a net loss allocable to common shareholders of
$52.7 million on $515 million of total revenues for the year ended
Dec. 31, 2015, compared to a net loss allocable to common
shareholders of $33.7 million on $462 million of total revenues for
the year ended Dec. 31, 2014.

As of Dec. 31, 2015, the Company had $5.62 billion in total assets,
$4.51 billion in total liabilities, $10.71 million in redeemable
concontrolling interests, and $1.10 billion in total equity.

                            *     *     *

As reported by the TCR on June 26, 2014, Fitch Ratings had
affirmed the Issuer Default Rating (IDR) of iStar Financial
at 'B'.  The 'B' IDR is driven by improvements in the company's
leverage, continued demonstrated access to the capital markets and
new sources of growth capital and material reductions in non-
performing loans (NPLs).

As reported by the TCR on Oct. 5, 2012, Standard & Poor's Ratings
Services affirmed its 'B+' long-term issuer credit rating on iStar
Financial.

In October 2012, Moody's Investors Service upgraded the corporate
family rating to 'B2' from 'B3'.  The current rating reflects the
REIT's success in extending near term debt maturities and
improving fundamentals in commercial real estate.  The ratings on
the October 2012 senior secured credit facility takes into account
the asset coverage, the size and quality of the collateral pool,
and the term of facility.


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

Jadeco Construction Corp. sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern
District of New York (Central Islip) (Case No. 16-71508) on April
6, 2016. The petition was signed by Jacinto Dealmeida, president.

The Debtor is represented by Joel M. Shafferman, Esq., at the
Shafferman & Feldman LLP. The case is assigned to Judge Robert E.
Grossman.

The Debtor estimated assets of $0 to $50,000 and debts of $1
million to $10 million.


JOHN R REED INC: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: John R. Reed, Inc.
        P.O. Box 306
        Dyer, TN 38330

Case No.: 16-10902

Chapter 11 Petition Date: May 5, 2016

Court: United States Bankruptcy Court
       Western District of Tennessee (Jackson)

Judge: Hon. Jimmy L Croom

Debtor's Counsel: Steven N. Douglass, Esq.
                  John L. Ryder, Esq.
                  HARRIS SHELTON HANOVER WALSH, PLLC
                  2700 One Commerce Square
                  Memphis, TN 38103
                  Tel: (901) 525-1455
                  Fax: (901) 526-4084
                  E-mail: snd@harrisshelton.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $10 million to $50 million

The petition was signed by John R. Reed, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/tnwb16-10902.pdf


JUNIPER GTL: Can Obtain $1.2MM interim Financing from Westlake
--------------------------------------------------------------
Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern
District of Texas, Houston Division, authorized Juniper GTL LLC to
borrow funds from Westlake GTL LLC on an interim basis up to an
aggregate principal amount of no more than $1.2 million.

Judge Isgur has scheduled the Final Hearing to be held on May 9,
2016, to consider the Debtor's request to obtain post-petition
financing of up to an aggregate amount of not more than $3
million.

Judge Isgur has also directed Richard Construction, Inc., not to
take any action to foreclose upon or exercise remedies against any
of the RCI Collateral, to file any further financing statements or
take any action to perfect its security interests in the RCI
Collateral, and to seek in obtaining adequate protection from the
Debtor for so long as there are any borrowings or amounts
outstanding under the DIP Facility.

Furthermore, Judge Isgur has granted the DIP Lender and RCI the
right to credit bid any or all of the DIP Obligations, DIP Liens,
RCI Lien and RCI Lien Obligations, and the DIP Lender the right to
apply any or all of its Superpriority Claims toward the
satisfaction of the purchase price for the Purchased Assets. In the
event the DIP Lender or RCI is not the successful bidder in any
sale of the Purchased Assets, the proceeds of any sale shall be
applied first to the repayment in full of the DIP facility and then
to any other sums due and owing to the DIP Lender and RCI, he
further ordered.

A full-text copy of the Interim DIP Order dated April 19, 2016,
with Budget is available at http://is.gd/ICcYNG

Juniper GTL LLC is represented by:

       Mark W. Wege, Esq.
       Edward L. Ripley, Esq.
       Jason S. Sharp, Esq.
       KING & SPALDING, LLP
       1100 Louisiana, Suite 4000
       Houston, Texas 77002
       Telephone: 713-751-3200
       Facsimile: 713-751-3290
       Email: MWege@kslaw.com
              ERipley@kslaw.com
              JSharp@kslaw.com   


KAISA GROUP: Chapter 15 Case Summary
------------------------------------
Chapter 15 Petitioner: Dr. Tam Lai Ling

Chapter 15 Debtor: Kaisa Group Holdings Ltd.
                   Two International Finance Centre
                   8 Finance Street, Suite 2001, 20th Floor
                   Central Hong Kong

Chapter 15 Case No.: 16-11303

Type of Business: An investment holding company, operates as an
                  integrated property development company in the
                  People's Republic of China.

Chapter 15 Petition Date: May 5, 2016

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

Judge: Hon. Sean H. Lane

Chapter 15 Petitioner's Counsel: Mark I Bane, Esq.
                                 ROPES & GRAY LLP
                                 1211 Avenue of the Americas
                                 New York, NY 10036-8704
                                 Tel: (212) 596-9000
                                 Fax: (212) 596-9090
                                 E-mail: mark.bane@ropesgray.com

Estimated Assets: Not Indicated

Estimated Debts: Not Indicated


KEMET CORP: NEC Tokin Reaches Settlement in Class Action Suits
--------------------------------------------------------------
KEMET Corporation announced that NEC TOKIN Corporation, a joint
venture between KEMET Electronics Corporation and NEC Corporation,
reached a preliminary settlement with plaintiffs in two related
U.S. antitrust class action suits.

"A significant hurdle to our acquisition of NEC TOKIN has been
cleared," stated Per Loof, KEMET's chief executive officer.  "This
settlement helps to open a path for implementation of our plan to
complete the acquisition.  We have been working closely with NEC
Corporation to develop the strategy for the consummation of the
acquisition and hope to be able to communicate to the investment
community in a reasonable time frame the mechanics and timing of
the closing of the acquisition.  This agreement as well as the
governmental fines assessed to NEC TOKIN, to date the most
significant of which permit payments over time, will allow us to
continue to follow our business strategies upon combination. While
we still await some government jurisdictions to complete their
review and assess any potential liability, our target is to
complete a transaction later this calendar year.  We believe that
the transaction will benefit the ongoing businesses of KEMET and
NEC TOKIN, providing increased shareholder value well into the
future," continued Loof.

Pursuant to the terms of the settlement that has been reached in
principle, in consideration of its release from the class action
suits, NEC TOKIN will pay an aggregate $37.25 million to a
settlement class of direct purchasers of capacitors and a
settlement class of indirect purchasers of capacitors.  Payments
shall be made in installments, with the initial installment due 15
days after execution of the definitive settlement agreement, and
annual installments extending through December, 2019.  NEC TOKIN
and the plaintiffs are working to finalize the settlement in a
definitive settlement agreement, the terms of which are subject to
court approval.

NEC TOKIN, a Japanese corporation, is a joint venture in which
KEMET's wholly-owned subsidiary, KEMET Electronics Corporation,
owns a 34% equity interest and 51% voting ownership interest, and
NEC Corporation (together with a subsidiary thereof) owns a 66%
equity interest and 49% voting ownership interest.

                            About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

As of Dec. 31, 2015, the Company had $707 million in total assets,
$583 million in total liabilities and $124.41 million in total
stockholders' equity.

                           *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to 'Caa1'
from 'B2' and the Probability of Default Rating to 'Caa1-PD' from
'B2- PD' based on Moody's expectation that KEMET's liquidity will
be pressured by maturing liabilities and negative free cash flow
due to the interest burden and continued operating losses at the
Film and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on KEMET to 'B-' from
'B+'.  "The downgrade is based on continued top-line and margin
pressures and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that S&P revised its outlook on
KEMET to 'stable' from 'negative'.  S&P affirmed the ratings,
including the 'B-' corporate credit rating.


KEMET CORP: Reports Preliminary Q4 and Fiscal 2016 Results
----------------------------------------------------------
KEMET Corporation reported a net loss of $15.2 million on $184
million of net sales for the quarter ended March 31, 2016, compared
to a net loss of $19.8 million on $194 million of net sales for the
same period in 2015.

For the fiscal year ended March 31, 2016, the Company reported a
net loss of $53.6 million on $735 million of net sales compared to
a net loss of $14.1 million on $823 million of net sales for the
fiscal year ended March 31, 2015.

As of March 31, 2016, Kemet had $703 million in total assets, $590
million in total liabilities and $112 million in total
stockholders' equity.

"We ended the year on a solid note with a strong finish with our
cash flow exceeding our earlier forecasts," stated Per Loof,
KEMET's chief executive officer.  "Overall, in a challenging
economic environment, our operational excellence continued to
improve margins and meet or exceed customer expectations. Finishing
the fiscal year in this position has allowed our Board of Directors
to authorize a debt repurchase plan, initially up to $20 million
over the course of our Fiscal Year 2017 that began April 1, 2016,
to facilitate lower interest payments and position the Company to
accomplish our strategic objectives," continued Loof.

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

                      http://is.gd/OjhmOI

                          About KEMET

KEMET, based in Greenville, South Carolina, is a manufacturer and
supplier of passive electronic components, specializing in
tantalum, multilayer ceramic, film, solid aluminum, electrolytic,
and paper capacitors.  KEMET's common stock is listed on the NYSE
under the symbol "KEM."

As of Dec. 31, 2015, the Company had $707 million in total assets,
$583 million in total liabilities and $124.41 million in total
stockholders' equity.

                           *     *     *

As reported by the TCR on March 26, 2013, Moody's Investors
Service downgraded KEMET Corp.'s Corporate Family Rating to 'Caa1'
from 'B2' and the Probability of Default Rating to 'Caa1-PD' from
'B2- PD' based on Moody's expectation that KEMET's liquidity will
be pressured by maturing liabilities and negative free cash flow
due to the interest burden and continued operating losses at the
Film and Electrolytic segment.

As reported by the TCR on Aug. 9, 2013, Standard & Poor's Ratings
Services lowered its corporate credit rating on KEMET to 'B-' from
'B+'.  "The downgrade is based on continued top-line and margin
pressures and lagging results from the restructuring of the Film &
Electrolytic [F&E] business, which combined with cyclical weak
end-market demand, has resulted in sustained, elevated leverage
well in excess of 5x, persistent negative FOCF, and diminishing
liquidity," said Standard & Poor's credit analyst Alfred
Bonfantini.

The TCR reported in August 2014 that S&P revised its outlook on
KEMET to 'stable' from 'negative'.  S&P affirmed the ratings,
including the 'B-' corporate credit rating.


LEGACY RESERVES: Moody's Affirms Caa3 Corp. Family Rating
---------------------------------------------------------
Moody's Investors Service changed Legacy Reserves, LP's Probability
of Default Rating (PDR) to Caa3-PD/LD from Caa3-PD. At the same
time, Moody's affirmed Legacy's Corporate Family Rating (CFR) at
Caa3 and its senior unsecured notes rating at Ca. Moody's affirmed
the SGL-4 Speculative Grade Liquidity Rating. The rating outlook is
stable.

"Legacy's senior notes repurchases reduced total debt by $169
million or approximately 12% of the end of 2015 total debt balance.
While Legacy will achieve annual cash interest savings of $12
million, it's liquidity remains in weak condition given the reduced
borrowing base from the recent redetermination and high risk of a
future covenant violation," said Moody's Assistant Vice President
Morris Borenstein.

The appending of the PDR with an "/LD" designation indicates
limited default. Moody's views the debt repurchases as a distressed
exchange, which is an event of default under Moody's definitions.
Legacy announced on May 4 that the company had completed cumulative
repurchases of $169 million in principal amount of its senior
unsecured notes (due 2020 and 2021) for $21.5 million, or an
average discount of 87% of par. Moody's will remove the "/LD"
designation after three business days.

RATING ACTIONS:

Issuer: Legacy Reserves, LP

Ratings affirmed:

Corporate Family Rating at Caa3;

Probability of Default Rating at Caa3-PD/LD from Caa3-PD (LD
appended);

Senior Unsecured Notes at Ca (LGD5);

Speculative Grade Liquidity Rating at SGL-4.

Outlook:

The rating outlook is stable.

RATINGS RATIONALE

Legacy's Caa3 Corporate Family Rating (CFR) reflects expectations
of a significant increase in leverage through 2017 based on
declining cash flows, weak liquidity with risk of a future covenant
violation, and weak asset coverage of debt. The company suspended
its MLP distributions and repaid roughly 15% of its debt which will
support cash flow in 2016, however in 2017, it faces a combination
of potential production declines, weaker hedge protection and a
high interest expense that will drive profitability and cash flows
lower. Without material capital investment, and/or higher commodity
prices, it will be challenging for Legacy to reverse production
declines beyond 2016.

Legacy's SGL-4 Speculative Grade Liquidity rating reflects weak
liquidity through 2017, limited revolver access, and potential for
covenant violations late in the second half of 2016 as EBITDA
deteriorates. Legacy's hedged portfolio, minimal development
capital expenditures in 2016 of $30-$40 million, and suspended
distribution all support cash flow this year. Moody's believes free
cash flow will be positive in 2016, provided that production
declines only modestly. In 2017, however, Moody's expect cash flows
to be negative as its hedged portion of volumes declines and lower
realized prices impact profitability. Moody's does not anticipate
Legacy will make any distributions.

Legacy has a senior secured revolving credit facility due April
2019 with a $630 million borrowing base, with $560 million drawn as
of May 4, 2016. Much of this debt was incurred in July 2015 related
to two acquisitions in East Texas. Moody's believes the company's
effective availability will be restricted later this year due to
tightness under its financial covenants.

Moody's believes Legacy will breach its financial covenants unless
it can negotiate an amendment with its bank group. Negotiations
with the banks could subject the revolver to a further borrowing
base reduction. The company has acreage that it could monetize
through asset sales as well as gathering and processing assets
acquired in 2015 that are outside of its core area of expertise.
While asset sales could provide alternate liquidity, valuations
could be depressed in the current energy price environment.

The rating outlook is stable reflecting Moody's expectation for
modest production declines in 2016 and very weak credit metrics
over the next 12 to 18 months.

The ratings could be downgraded if Legacy pursues a debt
restructuring or its liquidity further deteriorates. The ratings
could be upgraded if retained cash flow to debt can be sustained
above 5%, EBITDA to interest coverage sustained above 1.5 times,
and comfortable cushion expected under its financial covenants.

Headquartered in Midland, Texas, Legacy Reserves LP (Legacy) is a
publicly traded exploration and production (E&P) master limited
partnership (MLP). Legacy has oil and natural gas properties
primarily located in the Permian Basin of Texas and New Mexico,
East Texas, and the Piceance Basin in the Rockies. Production as of
March 31, 2016 averaged 45,527 boe per day (69% gas). Legacy is
controlled by its general partner (GP) Legacy Reserves GP, LLC
(unrated). The GP is owned by Legacy's founding investors,
directors and management, which collectively own 15% of Legacy's
limited partner units.



LIGHTSTREAM RESOURCES: S&P Lowers CCR to 'CCC-', Outlook Negative
-----------------------------------------------------------------
S&P Global Ratings said it lowered its long-term corporate credit
rating on Lightstream Resources Ltd. to 'CCC-' from 'B-.'  The
outlook is negative.  At the same time, S&P Global Ratings lowered
its rating on the company's senior unsecured debt to 'C' from
'CCC'.  The recovery rating on these notes is unchanged at '6', and
indicates S&P's expectation for negligible recovery (0%-10%) under
its default scenario.

"The downgrade reflects our view of the significant deterioration
in Lightstream's liquidity position, which we believe compromises
its ability to fund its upcoming secured debt interest payment due
on June 15, 2016; and repay the C$121 million amount drawn on its
credit facility, which exceeds the reduced facility availability,"
said S&P Global Ratings credit analyst Michelle Dathorne.  The
credit facility repayment is due within 90 days.  As a result, S&P
believes there is a heightened risk of a default.

S&P Global Ratings derives its 'CCC-' corporate credit rating on
Lightstream from:

   -- The company's vulnerable business risk and highly leveraged
      financial risk profile assessments; and

   -- The application of the 'CCC' criteria in light of
      Lightstream's rapidly deteriorated liquidity position, S&P's

      view of the company's limited financial flexibility to
      generate the cash flow necessary to meet its fixed charge
      obligations, and the heightened risk of a default in the
      next six months.

Although Lightstream's management is considering various strategic
alternatives, including a potential Bakken asset sale and a
possible first-lien facility refinancing, to improve its liquidity
position and address near-term financial obligations, S&P considers
a positive outcome to be highly uncertain given current weak market
conditions.

The negative outlook primarily reflects the potential for a
downgrade within the next six months with a heightened risk of
default.

S&P could lower the rating in the event that the company defaults
on its debt obligations, which could include a distressed exchange,
missed interest payment or if S&P believes a default to be a
virtual certainty.  In this scenario, S&P would ascribe little to
no probability of material proceeds from asset sales, or the
company's ability to refinance its credit facility.

Although S&P views it as unlikely in the next six months, an
upgrade could result from a material improvement in liquidity,
which S&P assumes would result primarily from material proceeds
from asset sales or other financing options, in tandem with
materially higher cash flows from significantly higher commodity
prices.  In S&P's opinion, these conditions are necessary to ensure
Lightstream can repay the amount required under its secured credit
facility and fund its fixed charge obligations sustainably.


LOCAL CORP: Gets Approval to Amend Winthrop Fee Structure
---------------------------------------------------------
Local Corp. received court approval to modify the fee structure for
services to be provided by Winthrop Couchot Professional Corp. in
connection with its prosecution of avoidance actions.

The order, issued by Judge Scott Clarkson of the U.S. Bankruptcy
Court for the Central District of California, approved the
contingency fee portion of the firm's compensation for the
prosecution of the avoidance actions.

Winthrop will be entitled to compensation based upon the following
rate structures: (i) 20% of litigation recoveries obtained in each
of the actions prior to filing a complaint; (ii) 30% of recoveries
obtained in each of the actions after the filing of a complaint;
and 35% of litigation recoveries obtained in each of the actions
after discovery cutoff.

The firm will also be granted a first-priority attorney's lien
against all litigation recoveries without the need to take any
action to perfect its lien.

                       About Local Corporation

Local Corporation, a publicly traded Delaware corporation (NASDAQ
symbol LOCM), is in the business of providing search results to
consumers who are searching online for local businesses, products
and services.  Founded in 1999, the Irvine, California-based
company went public in 2004 and has been one of the fastest growing
online local media businesses for a number of years, and for the
past four years it has been listed by Deloitte on its Technology
Fast 500.  The Company's search results are provided through the
Company's flagship Local.com Web site and through other proprietary
Web sites, and they are also delivered to a network of over 1,600
other Web sites that rely on search syndication services to provide
local search results to their own users.  The Company generates
revenue from ad units placed alongside its search results, which
include pay-per-click, pay-per-call, and display ad units.

The Company reported a net loss of $5.50 million on $83.1 million
of revenue for the year ended Dec. 31, 2014, compared with a net
loss of $10.4 million on $94.4 million of revenue in the prior
year.  The Company's balance sheet at March 31, 2015, showed $36.8
million in total assets, $25.7 million in total liabilities, and
stockholders' equity of $11.2 million.

Local Corp. filed a Chapter 11 bankruptcy petition (Bankr. C.D.
Cal. Case No. 15-13153) in Santa Ana, California, on June 23, 2015.
The Debtor disclosed $16,141,222 in assets and $29,519,418 in
liabilities as of the Chapter 11 filing.

The case is assigned to Judge Scott C. Clarkson.  The Debtor tapped
Winthrop Couchot as counsel.

Robins Kaplan LLP represents as counsel to the Official Committee
of Unsecured Creditors.


LOCATIONS IX: Case Summary & 4 Unsecured Creditors
--------------------------------------------------
Debtor: Locations IX Inc.
        1600 Stony Point Rd
        Manasquan, NJ 08736-2420

Case No.: 16-18857

Chapter 11 Petition Date: May 5, 2016

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

Judge: Hon. Christine M. Gravelle

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

Total Assets: $3.28 million

Total Liabilities: $892,281

The petition was signed by Vincent Ludwig, president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/njb16-18857.pdf


LOCATIONS VII: Case Summary & 4 Unsecured Creditors
---------------------------------------------------
Debtor: Locations VII Inc.
        1600 Stony Point Rd
        Manasquan, NJ 08736-2420

Case No.: 16-18855

Chapter 11 Petition Date: May 5, 2016

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

Judge: Hon. Christine M. Gravelle

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

Total Assets: $3.28 million

Total Liabilities: $892,281

The petition was signed by Vincent Ludwig, president.

A list of the Debtor's four largest unsecured creditors is
available for free at http://bankrupt.com/misc/njb16-18855.pdf


LOS ARBOLES APARTMENTS: Court Agrees to Hear Bid to Reopen Case
---------------------------------------------------------------
Los Arboles Apartments & Townhomes, LLC, applied for an order
shortening time on its "Emergency Motion to Determine that Secured
Creditor VFC Partners 29, LLC, a Limited Liability Company, Is Not
Entitled to Recover Any Attorney's Fees and Costs and that Its
Notice of Default and Election to Sell Under Deed of Trust and
Notice of Sale as Containing a Calculation of the Indebtedness
Based on Attorney's Fees and Costs is Void and Cannot Be Enforced"
("Motion to Determine").  Concurrently with the filing of the
application for order shortening time and the Motion to Determine,
the debtor also filed its "Emergency Motion to Reopen Chapter 11
Bankruptcy Case for the Limited Purpose of Seeking a Determination
that Secured Creditor VFC Partners 29, LLC, a Limited Liability
Company, Is Not Entitled to Recover Any Attorney's Fees and Costs
and that Its Notice of Default and Election to Sell Under Deed of
Trust, as Containing a Calculation of the Indebtedness Based on
Attorney's Fees and Costs is Void and Cannot Be Enforced" ("Motion
to Reopen").

The application was granted by Judge Robert Kwan of the United
States Bankruptcy Court for the Central District of California, Los
Angeles Division.  Hearings on both the Motion to Reopen and the
Motion to Determine were set for May 4, 2016 at 11:30 a.m. in
Courtroom 1675 at 255 East Temple Street, Los Angeles, California
90012.

The case is In re: LOS ARBOLES APARTMENTS & TOWNHOMES, LLC, Chapter
11, Debtor-In-Possession, Case No. 2:14-bk-31901-RK (Bankr. C.D.
Cal.).

A full-text copy of Judge Kwan's April 28, 2016 order is available
at http://is.gd/ASK1m5from Leagle.com.

Los Arboles Apts. & Townhomes LLC is represented by:

          Philip D Dapeer, Esq.
          PHILIP DAPEER, A LAW CORPORATION
          2625 Townsgate Rd Ste 330
          Westlake Village, CA 91361
          Tel: (323)954-9144

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

          Alvin Mar, Esq.
          915 Wilshire Blvd., Suite 1850
          Los Angeles, CA 90017
          Tel: (213)894-6811


MAXIM CRANE: S&P Puts 'B' CCR on CreditWatch Negative
-----------------------------------------------------
S&P Global Ratings said that it has placed its 'B' corporate credit
rating on Maxim Crane Works L.P. on CreditWatch with negative
implications.

S&P is not placing its 'B' issue-level rating on Maxim's
$325 million senior secured second-lien term loan due 2018 on
CreditWatch because S&P expects the lenders to be paid in full due
to a change-of-control provision in the credit agreement.

"The negative CreditWatch placement reflects the potential that we
could lower our corporate credit rating on Maxim if Apollo Capital
needs to take on additional debt to fund its acquisition of the
company, materially weakening the crane rental firm's credit
measures," said Standard & Poor's credit analyst Tyrell Peebles.
Apollo has entered into an agreement to acquire Maxim Crane Works
L.P. from Platinum Equity, and -- in a separate transaction -- has
entered into an agreement to acquire AmQuip Crane Rental from
Clearlake Capital Group L.P.  Apollo plans to combine these two
companies following the acquisitions.  Although the final purchase
price and capital structure has not been announced, S&P expects
that Apollo will partly finance the acquisitions with debt,
increasing Maxim's leverage under S&P's base-case forecast.  Under
S&P's current base-case forecast, it expects the company's adjusted
debt-to-EBITDA metric to be between 5x and 6x in 2016.

S&P expects to resolve the CreditWatch placement following its
review of Maxim's expected capital structure and S&P's assessment
of the combined entity's business.  In the event that the
additional borrowing required to complete the acquisition increases
Maxim's adjusted debt-to-EBITDA metric above 6x for an extended
period, S&P could lower its corporate credit rating on the company.


MCS GROUP: S&P Affirms 'B' CCR & Revises Outlook to Stable
----------------------------------------------------------
S&P Global Ratings affirmed its corporate credit rating of 'B' on
Plano, Texas-based MCS Group Subholdings LLC and revised the
outlook to stable from negative.

At the same time, S&P raised its issue-level rating on the
company's first-lien credit facilities, including a $20 million
revolving facility expiring 2018 and $340 million term loan due
2019, to 'B+' from 'B'.  S&P also revised its recovery ratings on
the first-lien facilities to '2', which indicates S&P's expectation
for lenders to receive meaningful (70% to 90%, at the upper end of
the range) recovery in the event of payment default, from '3'.

The revised outlook reflects MCS' improving financial condition
from organic growth, new clients, and tuck-in acquisitions, and the
termination of unprofitable service agreements last year.  The
acquisition of Epic was supported by the previous capital
contribution by TDR Capital.  "We expect credit metrics to continue
to strengthen over the next year as the company continues to
amortize the term loan, increases revenue and EBITDA, and focuses
on building a more diversified business around its core portfolio
services," said S&P Global Ratings analyst Peter Deluca.

The stable outlook reflects S&P's view that MCS' operating
performance will improve from current levels from ongoing
operational improvements, solid expense management, acquisitions,
satisfactory integration capability, and acquisition synergies.
S&P projects leverage to be below 4x over the next year as the
company reduces debt, continues to invest in the business,
maintains ample liquidity, diversifies into the non-default
services, and integrates acquisitions.

S&P could consider raising its ratings if operating performance is
maintained near S&P's forecast levels, and debt-to-EBITDA leverage
is sustained near 3x, while covenant cushion remains near 15%. This
could occur if the company achieves S&P's base forecast over the
next year.

S&P could lower its ratings over the next year if operating
performance weakens such that the covenant cushion declines below
15% or if free operating cash flow turns negative, perhaps from an
information technology intrusion leading to unexpected customer
attrition, or the inability to achieve planned synergies leading to
lower cash flow and profitability.  S&P estimates this could occur
if EBITDA declines by about 5% (assuming current debt and EBITDA.)


MEDICAL INVESTORS: Case Summary & 9 Unsecured Creditors
-------------------------------------------------------
Debtor: Medical Investors, LLC
        3761 Teays Valley Road
        Hurricane, WV 25526

Case No.: 16-30223

Nature of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 5, 2016

Court: United States Bankruptcy Court
       Southern District of West Virginia (Huntington)

Judge: Hon. Frank W. Volk

Debtor's Counsel: Joseph W. Caldwell, Esq.
                  CALDWELL & RIFFEE
                  P.O. Box 4427
                  Charleston, WV 25364-4427
                  Tel: 304-925-2100
                  Fax: (304) 925-2193
                  E-mail: joecaldwell@frontier.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $500,000 to $1 million

The petition was signed by Darrin VanScoy, managing member.

A list of the Debtor's nine largest unsecured creditors is
available for free at http://bankrupt.com/misc/wvsb16-30223.pdf


MGM RESORTS: Reports First Quarter Financial Results
----------------------------------------------------
MGM Resorts International reported net income attributable to the
Company of $66.8 million on $2.38 billion of revenues for the three
months ended March 31, 2016, compared to net income attributable to
the Company of $170 million on $2.52 billion of revenues for the
same period in 2015.

As of March 31, 2016, MGM Resorts had $25.5 billion in total
assets, $17.6 billion in total liabilities and $7.86 billion in
total stockholders' equity.

"MGM Resorts delivered an exceptional quarter, generating strong
financial results while completing significant strategic
achievements," said Jim Murren, Chairman & CEO of MGM Resorts. "Our
wholly owned domestic resorts reported the strongest Adjusted
Property EBITDA since 2007, as well as an impressive 524 basis
point increase in Adjusted Property EBITDA margins, demonstrating
the strength of our operations and success of our Profit Growth
Plan.  Our recent landmark accomplishments, including the
completion of MGP's initial public offering and its concurrent debt
financings, as well as the sale of CityCenter's The Shops at
Crystals, underscore our ability to deliver significant shareholder
value and drive sustainable, long-term growth for our company."

"This was an exciting quarter for MGM Resorts, in part because of
the successful initial public offering of MGM Growth Properties,"
said Mr. Murren.  "Not only did the offering price at the top of
the price range, it was the largest IPO in 2016 to-date.
Importantly, this transaction provided MGM Resorts' shareholders
with numerous strategic and financial benefits, including
enhancements to our balance sheet."

                      Financial Position

The Company's cash balance at March 31, 2016, was $1.7 billion,
which included $595 million at MGM China.  At March 31, 2016, the
Company had $2.7 billion of borrowings outstanding under its $3.9
billion senior secured credit facility, $1.6 billion outstanding
under the MGM China credit facility and $250 million outstanding
under the MGM National Harbor credit facility.

In connection with the MGP IPO and related transactions, the
Company entered into an amended and restated senior secured
facility comprised of a $1.25 billion revolving facility and a $250
million term loan A facility.  After giving effect to the repayment
of its 6.875% senior notes at maturity in April 2016, the pending
redemption of the Company's 10% senior notes due 2016 and its 7.5%
senior notes due 2016, and the amendment and restatement of the
senior secured credit facility, the Company had approximately $12.3
billion principal amount of indebtedness outstanding, including
$250 million outstanding under its senior secured credit facility,
$250 million outstanding under the MGM National Harbor facility,
$3.2 billion of indebtedness at MGP, and $1.6 billion at MGM
China.

"We continue to make significant progress in improving our balance
sheet through our strong performance in the first quarter and the
continued execution of our strategic plan," said Dan D'Arrigo,
Executive Vice President, CFO and Treasurer of MGM Resorts
International.  "We remain committed to strengthening our financial
flexibility, as highlighted by Moody's in its recent two-notch
upgrade of MGM Resorts International's corporate family rating,
bringing us closer to our goal of returning to investment grade."

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

                       http://is.gd/rQ3Iof

                        About MGM Resorts

MGM Resorts International (NYSE: MGM) a global hospitality
company, operating a portfolio of destination resort brands
including Bellagio, MGM Grand, Mandalay Bay and The Mirage.  The
Company also owns 51% of MGM China Holdings Limited, which owns
the MGM Macau resort and casino and is in the process of
developing a gaming resort in Cotai, and 50% of CityCenter in Las
Vegas, which features ARIA resort and casino.  For more
information about MGM Resorts International, visit the
Company's Web site at www.mgmresorts.com.

MGM Resorts reported a net loss attributable to the Company of
$447.72 million in 2015, a net loss attributable to the Company of
$149.87 million in 2014 and a net loss attributable to the Company
of $171.73 milion in 2013.

                           *     *     *

As reported by the TCR on Nov. 14, 2011, Standard & Poor's Ratings
Services raised its corporate credit rating on MGM Resorts
International to 'B-' from 'CCC+'.   In March 2012, S&P revised
the outlook to positive from stable.

"The revision of our rating outlook to positive reflects strong
performance in 2011 and our expectation that MGM will continue to
benefit from the improving performance trends on the Las Vegas
Strip," S&P said.

In March 2012, Moody's Investors Service affirmed its B2 corporate
family rating and probability of default rating.  The affirmation
of MGM's B2 Corporate Family Rating reflects Moody's view that
positive lodging trends in Las Vegas will continue through 2012
which will help improve MGM's leverage and coverage metrics,
albeit modestly. Additionally, the company's declaration of a $400
million dividend ($204 million to MGM) from its 51% owned Macau
joint venture due to be paid shortly will also improve the
company's liquidity profile. The ratings also consider MGM's
recent bank amendment that resulted in about 50% of its
$3.5 billion senior credit facility being extended one year from
2014 to 2015.

As reported by the TCR on Sept. 29, 2014, Fitch Ratings has
upgraded MGM Resorts International's (MGM) and MGM China Holdings
Ltd's (MGM China) IDRs to 'B+' from 'B' and 'BB' from 'BB-',
respectively.  Fitch's upgrade of MGM's IDR to 'B+' and the
Positive Outlook reflect the company's strong performance on the
Las Vegas Strip and in Macau as well as Fitch's longer-term
positive outlooks for these markets.


MICHAEL KING: U.S. Trustee Asks Court to Dismiss Ch. 11 Case
------------------------------------------------------------
The U.S. Trustee, Gail Brehm Geiger, asks the Bankruptcy Court for
entry of an order dismissing The Michael King Smith Foundation's
Chapter 11 case. Alternatively, the U.S. Trustee requests for the
appointment of a Chapter 11 Trustee.

According to the U.S. Trustee, "cause" exists to convert or dismiss
the Debtor's case because of substantial or continuing loss to or
diminution of the estate and the absence of a reasonable likelihood
of rehabilitation for it is not clear how the estate and creditors
would benefit from the proposed sale of the Debtor's Main Assets
for less than the amount owed to secured creditors or how the case
could be successfully concluded after the sale.

The U.S. Trustee narrates that the Debtor proposes to sell the Main
Assets to George Schott for $7.7 million, which is less than the
amount of "all liens on the property total approximately
$9,291,720, of which the debtor believes a total of $2,000,000 need
not be paid as secured claims;" however, the Debtor fails to
provide identify the $2 million lien and the reason why it is
invalid, avoidable, or otherwise not allowable.  

Furthermore, the U.S. Trustee narrates that the proposed sale will
not generate proceeds sufficient to pay secured creditors in full
or any administrative expenses for the Motion to Sell itself
provides that "the estate will receive net proceeds of $0.00 from
the sale," and that all liens shall "attach to the sale proceeds in
the same order of priority they attached to the Main Assets to be
sold, and shall be held in escrow or trust until the Bankruptcy
Court orders payment."  The Motion to Sell does not reflect the
consent of any lienholders to the proposed sale of the Main Assets,
the U.S. Trustee further narrates.

Moreover, the Debtor's original schedules and Statement of
Financial Affairs were deficient in significant respects, and the
Debtor has failed to file accurate and complete schedules that
identify the property secured by its largest secured creditor, and
as such, the Debtor does not appear to have any source of income
that will support the payment of ongoing administrative expenses in
this case and it is not clear that assets would remain after the
proposed sale that could be used to pay these expenses.

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

             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.


MILLWEAVE LLC: Pa. Court Extends Plan Filing Exclusivity to May 7
-----------------------------------------------------------------
Chief Bankruptcy Judge Mary France of the U.S. Bankruptcy Court for
the Middle District of Pennsylvania granted the request of
Millweave LLC to extend the Debtor's exclusivity period for filing
its Plan of Reorganization and Disclosure Statement (i.e. to May 7,
2016) and soliciting acceptances of a plan to 60 days thereafter
(i.e. to July 6, 2016).

The Court entered the Order on May 5.

Millweave, LLC, which does business as O'Rorkes Family Eatery and
as O'Rorkes Eatery & Spirits, filed a Chapter 11 bankruptcy
petition (Bankr. M.D. Pa. Case No. 15-02027) on May 13, 2015,
represented by Gary J. Imblum, Esq. -- gary.imblum@imblumlaw.com --
at Imblum Law Offices, P.C.


MISSISSIPPI PHOSPHATES: Court Orders Chapter 11 Plan Filing
-----------------------------------------------------------
Judge Katharine M. Samson of the U.S. Bankruptcy Court for the
Southern District of Mississippi ordered Mississippi Phosphates
Corporation and its affiliated debtors to each file a chapter 11
disclosure statement and a Chapter 11 plan.

The U.S. Trustee for Region 5 had previously filed a Motion seeking
to convert or dismiss the Chapter 11 case.  The Debtors, the
Official Committee of Unsecured Creditors, and the Mississippi
Department of Environmental Quality ("MDEQ") filed Responses to the
Motion.  They eventually reached an agreement and asked the Court
to approve their agreement.

Judge Samson ordered that if the Debtors fail to comply with any of
the terms of her Order, the bankruptcy cases will be converted to
chapter 7 proceedings without further notice or hearing.

Mississippi Phosphates Corporation and its affiliated debtors are
represented by:

         Stephen W. Rosenblatt, Esq.
         Christopher R. Maddux, Esq.
         Paul M. Murphy, Esq.
         J. Mitchell Carrington, Esq.
         Thomas M. Hewitt, Esq.
         BUTLER SNOW LLP
         1020 Highland Colony Parkway, Suite 1400
         Ridgeland, MS 39157
         Telephone: (601)985-4504
         E-mail: Steve.Rosenblatt@butlersnow.com
                 Chris.Maddux@butlersnow.com
                 Paul.Murphy@butlersnow.com
                 Mitch.Carrington@butlersnow.com
                 Thomas.Hewitt@butlersnow.com

The Official Committee of Unsecured Creditors is represented by:

          Bess M. Parrish Creswell, Esq.
          Kasee Sparks Heisterhagen, Esq.
          BURR & FORMAN, LLP
          RSA Tower
          11 North Water Street
          Suite 22200
          Mobile, AL 36602
          Telephone: (251)344-5151
          Facsimile: (251)344-9696
          E-mail: bcreswell@burr.com
                  ksparks@burr.com

                   About Mississippi Phosphates

Mississippi Phosphates Corporation is a major United States
producer and marketer of diammonium phosphate ("DAP"), one of the
most common types of phosphate fertilizer.  MPC, which was formed
as a Delaware corporation in October 1990, owns a DAP facility in
Pascagoula, Mississippi, which was acquired from Nu-South, Inc. in
its 1990 bankruptcy.  Phosphate rock, the primary raw material
used
in the production of DAP, is being supplied by OCP S.A., a
corporation owned by the Kingdom of Morocco.

The parent, Phosphate Holdings, Inc., was formed in December 2004
in connection with the bankruptcy reorganization of MPC and its
then-parent Mississippi Chemical Corporation, the first fertilizer
cooperative in the United States.

As of Oct. 27, 2014, MPC has a work force of 250 employees, broken
into 224 regular employees and 26 "nested" third-party contract
employees.

MPC and its subsidiaries, namely Ammonia Tank Subsidiary, Inc.,
and
Sulfuric Acid Tanks Subsidiary, Inc., sought Chapter 11 bankruptcy
protection (Bankr. S.D. Miss. Lead Case No. 14-51667) on Oct. 27,
2014. Judge Katharine M. Samson is assigned to the cases.

Mississippi Phosphates disclosed in its amended schedules, assets
of $98,949,677 and liabilities of $140,941,276 plus unknown
amounts.  Affiliates Ammonia Tank and Sulfuric Acid Tanks each
estimated $1 million to $10 million in both assets and
liabilities.

The Debtors have tapped Stephen W. Rosenblatt, Esq., at Butler
Snow
LLP as counsel.

The U.S. Trustee for Region 5 appointed seven creditors of
Mississippi Phosphates Corp. to serve on the official committee of
unsecured creditors.  The Committee tapped to retain Burr & Forman
LLP as its counsel.


MOBILE MINI: S&P Assigns 'BB-' Rating on Proposed $250MM Notes
--------------------------------------------------------------
S&P Global Ratings assigned its 'BB-' issue-level rating and '5'
recovery rating to Phoenix-based portable storage and mobile office
leasing company Mobile Mini Inc.'s proposed $250 million senior
unsecured notes due 2024.  The '5' recovery rating reflects S&P's
expectation for modest recovery (10%-30%; upper half of the range)
for lenders in the event of a payment default.

The company will use the proceeds from this debt issuance to redeem
its $200 million senior unsecured notes due 2020 and pay down its
revolving credit facility.

S&P's ratings on Mobile Mini reflect S&P's fair assessment of the
company's business risk profile and S&P's significant assessment of
its financial risk profile.  The stable outlook reflects S&P's
expectation that the company's revenues and earnings will increase
modestly over the next year due to gradually improving utilization
levels and increased pricing.  S&P believes that the company will
likely use its free operating cash flow for shareholder returns,
acquisitions, and debt reduction.  This should modestly improve
Mobile Mini's credit metrics over the next year.

Although unlikely over the next year, S&P could downgrade the
company if its financial profile deteriorates because of some
combination of weaker-than-expected earnings growth, weak demand
and pricing, or material shareholder returns that cause its funds
from operations (FFO)-to-total debt ratio to decline to the
low-teens percent area on a sustained basis.

Although also unlikely over the next year, S&P could raise its
ratings on Mobile Mini if the company's financial profile
strengthens because of better-than-expected earnings (supported by
an increase in lease yields and/or utilization rates stemming from
a rebound in the construction or retail markets), or if management
uses some of the company's free cash flow for debt reduction such
that Mobile Mini's FFO-to-debt ratio rises above 25% for a
sustained period.

RATINGS LIST

Mobile Mini Inc.
Corporate Credit Rating                  BB/Stable/--

New Ratings

Mobile Mini Inc.
Prpsd $250 Mil. Sr Unsecd Nts Due 2024   BB-
  Recovery Rating                         5H


MODERN SHOE: Appoints Bruce Erickson as CRO
-------------------------------------------
Modern Shoe Company LLC and Highline United LLC seek authority from
the Bankruptcy Court to retain BErickson Group, LLC to provide a
chief restructuring officer and designate Bruce A. Erickson to
serve as CRO for the Debtors, effective as of the Petition Date.

Subject to approval by the Court, the Debtors propose to retain BEG
to:

  a) assist as necessary in court related activities, pre-petition
     planning, including structuring and negotiating the proposed
     "stalking horse" offer, motion review, court appearances and
     testimony;

  b) identify prospective purchasers who may be interested
     purchasing some or all of the Debtors' assets;

  c) develop an offering memorandum for potential purchasers of
     the Debtors' assets;

  d) assist in providing due diligence information in support of
     prospective purchasers in the due diligence process;

  e) provide assistance in evaluating and negotiating bids from
     prospective purchasers;

  f) provide assistance in obtaining court approval of desired
     transaction, including offering testimony, as appropriate;

  g) provide assistance in closing a transaction;

  h) provide assistance in the development of a plan to wind down
     the Debtors post-asset sale if required;

  i) provide assistance to management in wind-down process if
     required; and

  j) assist with other issues as required by the Debtors during
     this engagement.

Subject to Court approval, compensation will be payable to BEG at
its normal and customary rates, plus reimbursement of actual,
necessary expenses and other charges incurred.  BEG has advised the
Debtors that its current hourly rates applicable to Mr. Erickson is
$345 per hour, and any additional personnel
engaged by BEG are between $195 and $345 per hour depending on the
individual assigned.

BEG will be reimbursed for reasonable out-of-pocket expenses, such
as travel, telephone and facsimile, courier, and copy expenses. BEG
will also be reimbursed for direct expenses incurred in connection
with the anticipated sale process of the Debtors' assets to the
extent not directly paid for by the Debtors, including costs of
outside services to generate potential buyers and costs of due
diligence.  BEG will be reimbursed for legal fees incurred in
responding to discovery or testifying as a witness in any matter
relating to its services, excluding testimony provided during the
term of the engagement.

Prior to the Petition Date, BEG received $15,000 from the Debtors
in connection with BEG's consultations with the Debtors with
respect to their financial difficulties, businesses, and
restructuring strategy.  The Retainer was paid from the Debtors'
operating cash, and BEG applied a portion of the Retainer to
amounts due for services rendered and expenses incurred prior to
the Petition Date.  The Debtors do not owe BEG any further amount
for services performed or expenses incurred prior to the
commencement of these Chapter 11 cases, and, thus, BEG is not a
prepetition creditor of the Debtors.

The Debtors said BEG and Erickson are each a "disinterested person"
as that phrase is defined in Section 101(14) of the Bankruptcy
Code.

The Debtors have agreed to indemnify and hold harmless BEG under
certain circumstances.

                      About Modern Shoe

Headquartered in Hyde Park, Massachusetts, Modern Shoe Company LLC
and Highline United LLC are specialty designers, wholesalers, and
importers of premium-segment footwear.  The Debtors currently
employ six designers, who design footwear for each season.  The
Debtors provide the design specifications, including style, color,
and material, to third party manufacturers.  The footwear is
manufactured overseas, primarily in China, by JS Macao
International, Universal Max and Ash (HK) Limited ("the Affiliate
Manufacturers"), which companies share some common ownership with
the Debtors' ultimate ownership.  The Debtors also previously
manufactured handbags, but discontinued that business in November
2015.

Modern Shoe was originally founded by individual investors and a
company called Grandview International Ltd.  In 2009, Grandview
acquired the interests of the individual investors and Modern Shoe
became a wholly-owned subsidiary of Grandview.  Grandview has also
wholly-owned Highline since Highline's inception.  Grandview is a
holding company.  In addition to the Debtors, Grandview owns 100%
of the interests of two affiliated companies -- ASH Footwear
International LLC and JMC Footwear LLC -- both of which were
closed in 2015 and dissolved in early 2016.  Grandview itself is
owned by a holding company known as Highline United Holdings USA,
Inc.

Each of the Debtors filed a Chapter 11 bankruptcy petition (Bankr.
D. Mass. Case Nos. 16-11658 and 16-11659) on May 2, 2016.  The
petitions were signed by Kimberley Bradley as COO and CFO.

Modern Shoe estimated assets in the range of $1 million to $10
million and liabilities of up to $50 million.  Highline United
estimated assets and liabilities in the range of $10 million to $50
million.

The Debtors have hired Foley Hoag LLP as counsel, Verdolino &
Lowey, P.C. as accountant and BErickson Group, LLC as restructuring
advisor.

Judge Melvin S. Hoffman has been assigned the cases.


MODERN SHOE: Employs Foley Hoag as Bankruptcy Counsel
-----------------------------------------------------
Modern Shoe Company LLC and Higline United LLC seek authority from
the Bankruptcy Court to employ Foley Hoag LLP as their counsel.  It
is anticipated that Foley Hoag will:

   (a) represent the Debtors at all hearings and matters
       pertaining to their affairs as debtors-in-possession;

   (b) attend meetings and negotiate with representatives of the
       Debtors' creditors and other parties-in-interest, as well
       as respond to creditor inquiries;

   (c) take all necessary action to protect and preserve the
       Debtors' estates;

   (d) prepare on behalf of the Debtors all necessary and
       appropriate motions, applications, answers, orders, reports

       and papers necessary to the administration of their estate;

   (e) review applications and motions filed by other parties-in-
       interest in connection with this case;

   (f) advise and represent the Debtors in connection with their
       proposed sale of substantially all their assets, and in
       connection with any other asset sale;

   (g) negotiate and prepare on the Debtors' behalf any plan of
       reorganization, disclosure statement, and all related
       agreements and/or documents, and take any necessary action
       on behalf of the Debtors to obtain confirmation of that
       plan, if any;

   (h) review and evaluate the Debtors' executory contracts and
       unexpired leases and represent the Debtors in connection
       with the rejection, assumption and assignment of those
       leases;

   (i) consult with and advise the Debtors regarding all other
       legal matters that arise in the conduct of their business,
       including intellectual property, tax, and labor and
       employment matters;

   (j) represent the Debtors in connection with any adversary
       proceedings or automatic stay litigation which may be
       commenced by or against the Debtors;

   (k) review and analyze various claims of the Debtors' creditors
       and the treatment of those claims, and prepare, file and
       prosecute objections thereto; and

   (l) perform all other necessary legal services and provide all
       other necessary legal advise to the Debtors in connection
       with the Chapter 11 cases.

In the one-year period prior to the Petition Date, the Debtors paid
approximately $270,429 in fees and $20,709 in costs and expenses to
Foley Hoag for both general corporate advice and, more recently,
for bankruptcy-related advice.  They also paid a retainer to the
Firm for services rendered or to be rendered in contemplation of
bankruptcy, the asset sale and in connection with preparations for
the Chapter 11 cases in the amount of $150,000 on March 21, 2016,
and $12,848 on April 29, 2016.

To the best of the Debtors' knowledge, Foley Hoag has no connection
with them, their creditors or any other party-in-interest, or their
respective attorneys or accountants or the United States Trustee
and does not represent any interest adverse to them or their
estates, creditors or equity security holders in the matters for
which it is proposed to be retained.

                         About Modern Shoe

Headquartered in Hyde Park, Massachusetts, Modern Shoe Company LLC
and Highline United LLC are specialty designers, wholesalers, and
importers of premium-segment footwear.  The Debtors currently
employ six designers, who design footwear for each season.  The
Debtors provide the design specifications, including style, color,
and material, to third party manufacturers.  The footwear is
manufactured overseas, primarily in China, by JS Macao
International, Universal Max and Ash (HK) Limited ("the Affiliate
Manufacturers"), which companies share some common ownership with
the Debtors' ultimate ownership.  The Debtors also previously
manufactured handbags, but discontinued that business in November
2015.

Modern Shoe was originally founded by individual investors and a
company called Grandview International Ltd.  In 2009, Grandview
acquired the interests of the individual investors and Modern Shoe
became a wholly-owned subsidiary of Grandview.  Grandview has also
wholly-owned Highline since Highline's inception.  Grandview is a
holding company.  In addition to the Debtors, Grandview owns 100%
of the interests of two affiliated companies -- ASH Footwear
International LLC and JMC Footwear LLC -- both of which were
closed in 2015 and dissolved in early 2016.  Grandview itself is
owned by a holding company known as Highline United Holdings USA,
Inc.

Each of the Debtors filed a Chapter 11 bankruptcy petition (Bankr.
D. Mass. Case Nos. 16-11658 and 16-11659) on May 2, 2016.  The
petitions were signed by Kimberley Bradley as COO and CFO.

Modern Shoe estimated assets in the range of $1 million to $10
million and liabilities of up to $50 million.  Highline United
estimated assets and liabilities in the range of $10 million to $50
million.

The Debtors have hired Foley Hoag LLP as counsel, Verdolino &
Lowey, P.C. as accountant and BErickson Group, LLC as restructuring
advisor.

Judge Melvin S. Hoffman has been assigned the cases.


MODERN SHOE: Hires Verdolino & Lowey as Accountant
--------------------------------------------------
Modern Shoe Company LLC and Highline United LLC seek permission
from the Bankruptcy Court to employ Verdolino & Lowey, P.C. as
their accountant and financial advisor.

The Debtors contemplate that V&L will:

   (a) assist with the preparation of the schedules of assets and
       liabilities and statement of financial affairs;

   (b) advise and assist the Debtors with respect to the operation

       of their business, including payroll and other tax issues;

   (c) establish or maintain accounts, reserves and trusts, and
       handle general banking issues, as deemed necessary;

   (d) assist in reviewing the Debtors' books and records for
       preference and fraudulent transfer claims;

   (e) advice and assist concerning any proposed sale of assets,
       and/or a reorganization of the Debtors' financial affairs;

   (f) advice regarding the tax implications of asset recovery;

   (g) assist in valuation and insolvency analysis and, if
       necessary expert report preparation and testimony;

   (h) assist in reviewing, reconciling, and analyzing and, if
       necessary, objecting to proofs of claim;

   (i) assist in the preparation and filing of operating reports
       as required by the Bankruptcy Code, the Bankruptcy Rules,  
       Local Rules, the United States Trustee's applicable
       guidelines, and orders of the bankruptcy court;

   (j) retain and maintain the Debtors' business records;

   (k) prepare and serve required notices and documents; and

   (l) provide other functions as requested by the Debtors or
       their counsel to assist in the Chapter 11 cases.

The Debtors said V&L is a "disinterested person" as that term is
defined in Section 101(14) of the Bankruptcy Code.

The current and customary hourly rates of V&L are:

          Level                          Rate/Hour
          -----                          ---------
          Principals                       $445
          Managers                       $245-$395
          Staff                          $210-$375
          Bookkeepers                    $185-$225
          Clerical                          $90

V&L will also seek reimbursement for necessary expenses, incurred,
which will include, but not limited to, travel, photocopying,
delivery service, postage, vendor charges and storage charges.

                        About Modern Shoe

Headquartered in Hyde Park, Massachusetts, Modern Shoe Company LLC
and Highline United LLC are specialty designers, wholesalers, and
importers of premium-segment footwear.  The Debtors currently
employ six designers, who design footwear for each season.  The
Debtors provide the design specifications, including style, color,
and material, to third party manufacturers.  The footwear is
manufactured overseas, primarily in China, by JS Macao
International, Universal Max and Ash (HK) Limited ("the Affiliate
Manufacturers"), which companies share some common ownership with
the Debtors' ultimate ownership.  The Debtors also previously
manufactured handbags, but discontinued that business in November
2015.

Modern Shoe was originally founded by individual investors and a
company called Grandview International Ltd.  In 2009, Grandview
acquired the interests of the individual investors and Modern Shoe
became a wholly-owned subsidiary of Grandview.  Grandview has also
wholly-owned Highline since Highline's inception.  Grandview is a
holding company.  In addition to the Debtors, Grandview owns 100%
of the interests of two affiliated companies -- ASH Footwear
International LLC and JMC Footwear LLC -- both of which were
closed in 2015 and dissolved in early 2016.  Grandview itself is
owned by a holding company known as Highline United Holdings USA,
Inc.

Each of the Debtors filed a Chapter 11 bankruptcy petition (Bankr.
D. Mass. Case Nos. 16-11658 and 16-11659) on May 2, 2016.  The
petitions were signed by Kimberley Bradley as COO and CFO.

Modern Shoe estimated assets in the range of $1 million to $10
million and liabilities of up to $50 million.  Highline United
estimated assets and liabilities in the range of $10 million to $50
million.

The Debtors have hired Foley Hoag LLP as counsel, Verdolino &
Lowey, P.C. as accountant and BErickson Group, LLC as restructuring
advisor.

Judge Melvin S. Hoffman has been assigned the cases.


MONAKER GROUP: Monaco Exercises Warrants for $300,000
-----------------------------------------------------
Monaco Investment Partners II, LP, on April 27, 2016, exercised
warrants that were granted on Oct. 1, 2015 (expiring Sept. 30,
2016) at a price per share of $1.50 for 100,000 shares of common
stock of Monaker Group, Inc.  Also, on April 27, 2016, Monaco
Investments exercised warrants that were granted on Nov. 3, 2015
(expiring Nov. 2, 2016) at a price per share of $1.50 for 100,000
shares of Common Stock of the Company, for aggregate cash proceeds
of $300,000.  Donald P. Monaco, a member of the Compoany's Board of
Directors, is the managing general partner of Monaco Investments.

                       About Monaker Group

Monaker Group, Inc., formerly known as Next 1 Interactive, Inc., is
a digital media marketing company focusing on lifestyle enrichment
for consumers in the travel, home and employment sectors.  Core to
its marketing services are key elements including proprietary
video-centered technology and established partnerships that enhance
its reach.  Video is quickly becoming consumer's preferred method
of searching and educating themselves prior to purchases.
Monaker's video creation technology and film libraries combine to
create lifestyle video offerings that can be shared both to its
customers and through trusted distribution systems of its major
partners.  The end result is better engagement with consumers who
gain in-depth information on related products and services helping
to both inform and fulfill purchases.  Unlike traditional marketing
companies that simply charge for advertising creation, Monaker
holds licenses and/or expertise in the travel, real estate and
employment sectors allowing it to capture fees at the point of
purchase while the majority of transactions are handled by
Monaker's partners.  This should allow the company to capture
greater revenues while eliminating much of the typical overhead
associated with fulfillment.  Monaker core holdings include
Maupintour, NameYourFee.com, RealBiz Media Group - helping it to
deliver marketing solutions to consumers at home, work and play.

Next 1 Interactive reported a net loss of $50,500 on $1.1 million
of total revenue for the year ended Feb. 28, 2015, compared with a
net loss of $18.3 million on $1.5 million of total revenues for the
year ended Feb. 28, 2014.

As of Nov. 30, 2015, the Company had $6.94 million in total assets,
$9.88 million in total liabilities and a total stockholders'
deficit of $2.94 million.

D'Arelli Pruzansky, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Feb. 28, 2015, citing that the Company has incurred
an operating loss of $5.44 million and net cash used in operations
of $2.62 million for the year ended Feb. 28, 2015, and the Company
had an accumulated deficit of $86.1 million and a working capital
deficit of $12.8 million at Feb. 28, 2015.  These conditions raise
substantial doubt about the Company's ability to continue as a
going concern.


NAVIENT CORP: Moody's Affirms Ba3 Sr. Unsecured Debt Rating
-----------------------------------------------------------
Moody's Investors Service has affirmed Navient Corporation's Ba3
senior unsecured debt rating, (P)Ba3 senior unsecured debt shelf
rating and Ba3 Corporate Family Rating. The outlook is stable.

Issuer: Navient Corporation

-- Affirmations:

-- Corporate Family Rating , Affirmed Ba3

-- Senior Unsecured Shelf, Affirmed (P)Ba3

-- Senior Unsecured Medium-Term Note Program, Affirmed (P)Ba3

-- Senior Unsecured Regular Bond/Debenture, Affirmed Ba3

-- Outlook Actions:

-- Outlook, Remains Stable

RATINGS RATIONALE

Moody's affirmed Navient's Ba3 ratings with a stable outlook to
reflect the strong asset quality of its $126 billion legacy student
loan portfolio, its stable earnings and solid, though diminished
financial flexibility. The stable outlook reflects Moody's view
that Navient will have sufficient resources to manage the $1.6
billion of unsecured debt maturing between now and the end of 2017
and will manage its liquidity and funding needs conservatively.

The company's primary credit strength is its approximately $126
billion legacy student loan portfolio and the highly predictable
cash flow generation of its $95 billion FFELP portfolio with the
remainder comprised of private student loans. The performance of
the private student loans has also been and is expected to remain
solid. Net income has been steady ranging from 0.70% to 0.85% of
total assets over the last three years.

The largest risk facing the company is its refinancing risk over
the next several years as unsecured debt matures. Over the last
year, the company increased its reliance on secured funding because
the cost of issuing unsecured debt increased through much of 2015.
The shift encumbered assets and diminished the company's financial
flexibility. As unsecured debt issuance costs recently declined,
the company stated that it intends to access the unsecured debt
market prior to year-end which would improve its liquidity
position, a credit positive.

"Another potential challenge to Navient's liquidity profile relates
to the refinancing of the company's $16.6 billion of FFELP
warehouse facilities given the reviews of existing term ABS bonds.
However, given the government guarantees of the loans securing the
warehouse facilities, we expect that the company will be able to
refinance its warehouse facilities as needed."

A rating upgrade is unlikely at this time, but positive credit
developments would include a material decrease in financial
leverage.

A downgrade is possible if the company's financial flexibility
declines. Given the current funding environment, it is very
important for the company to maintain financial flexibility to
manage the large level of unsecured debt maturing, particularly in
2018, 2019, and 2020. The ratings could also be downgraded if 1)
the financial performance of the company deteriorates or 2) the
value of the investment portfolio declines because of a large
increase in prepayment speeds on the FFELP portfolio or rising
delinquencies and defaults on the private student loan portfolio,
for example.

Navient is a student loan finance company headquartered in
Wilmington, Delaware.


NEPHROS INC: To Launch EndoPurTM Ultrafilters Later This Year
-------------------------------------------------------------
As previously announced in a press release dated April 21, 2016,
Nephros, Inc. submitted a Special 510(k) application to the U.S.
Food and Drug Administration for its EndoPurTM ultrafilter designed
to provide hemodialysis quality water.  On April 28, 2016, the
Company received a response from FDA, in which FDA noted that it
had determined that the Special 510(k) should be converted to a
Traditional 510(k).  FDA requested additional information on the
20", 30" and 40" filter sizes and on the reusable external filter
housing.  Following discussions with FDA, the Company converted the
Special 510(k) submission to a Traditional 510(k) submission for
the 20", 30" and 40" filter sizes.  The Company intends to file a
separate Special 510(k) for the EndoPur 10" filter size in the near
term.

Due to the longer FDA review process associated with a Traditional
510(k) submission, the Company aims to launch the 20", 30" and 40"
filter sizes early in the fourth quarter of 2016, subject to
completion of the FDA clearance process.  As the 10" filter size
still qualifies for the Special 510(k) process, the Company aims to
launch the 10" filter size early in the third quarter of 2016,
subject to completion of the FDA clearance process.

                        About Nephros

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

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

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


NET ELEMENT: Signs Master Exchange Agreement with Crede CG
----------------------------------------------------------
Net Element, Inc., disclosed with the Securities and Exchange
Commission that on May 2, 2016, it entered into a Master Exchange
Agreement with Crede CG III, Ltd.  Prior to entering into the
Agreement, Crede agreed to acquire three existing promissory notes
that had been previously issued by the Company, of up to $3,965,000
in principal amount outstanding plus interest due to RBL Capital
Group, LLC.

Pursuant to the Agreement, the Company has the right, at any time
prior to Dec. 31, 2016, to request Crede, and Crede agreed upon
each such request, to exchange these promissory notes in tranches
on the dates when the Company instructs Crede, for such number of
shares of the Company's common stock as determined under the
Agreement based upon the lower of (A) the closing bid price of
Common Stock on the date of the applicable exchange notice and (B)
(x) the average of the 3 lowest daily dollar volume-weighted
average prices (VWAPs) of Common Stock during the 7 trading days
immediately preceding the date of the applicable notice less (y)
12% of such average of the 3 lowest daily VWAPs of Common Stock.
All such determinations will be appropriately adjusted for any
stock split, stock dividend, reverse stock split, stock combination
or other similar transaction during any measuring period.  Each
such tranche to be $100,000 unless otherwise agreed to by the
Company and Crede.

On May 2, 2016, the Company opted to exchange the first tranche in
the aggregate amount of $281,142.47 for 978,568 shares of Common
Stock based on the "exchange price" of $0.2873 per share for this
first tranche.

The Agreement provides that the Company will not effect any
exchange or otherwise issue any shares of Common Stock under the
Agreement if, after giving effect to such exchange or other share
issuance under the Agreement, Crede and its affiliates would
beneficially own in excess of 9.99% of the outstanding Common
Stock.  

The Agreement further provides that, under no circumstances may the
aggregate number shares of Common Stock issued to Crede under the
Agreement at any time exceed 19.99% of the total number of shares
of Common Stock outstanding or of the voting power unless the
Company has obtained either (i) its stockholders' approval of the
issuance of more than such number of shares of Common Stock
pursuant to NASDAQ Marketplace Rule 5635(d) or (ii) a waiver from
The NASDAQ Stock Market of the Company’s compliance with Rule
5635(d).

                        About Net Element

Miami, Fla.-based Net Element International, Inc., formerly Net
Element, Inc., currently operates several online media Web sites
in the film, auto racing and emerging music talent markets.

Net Element reported a net loss of $13.3 million on $40.2 million
of total revenues for the year ended Dec. 31, 2015, compared to a
net loss of $10.21 million on $21.4 million of total revenues for
the year ended Dec. 31, 2014.  As of Dec. 31, 2015, the Company had
$22.9 million in total assets, $13.9 million in total liabilities
and $9.04 million in total stockholders' equity.

Daszkal Bolton LLP, in Fort Lauderdale, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has sustained
recurring losses from operations and has working capital and
accumulated deficits that raise substantial doubt about its ability
to continue as a going concern.


NEW YORK CRANE: Asks Court to Extend Plan Exclusivity to Nov. 1
---------------------------------------------------------------
New York Crane & Equipment Corp., J.F. Lomma, Inc. (NJ), J.F.
Lomma, Inc. (DE), and James F. Lomma ask Bankruptcy Judge Carla E.
Craig for an order extending the Debtors' exclusive periods to file
a plan of reorganization and solicit acceptances thereto for 180
days from May 5, 2016 and July 5, 2016 respectively, to November 1,
2016 and January 2, 2017, respectively.

The Debtors are currently subject to two wrongful death judgments
totaling $96 million, which are subject to a pending appeal. The
Debtors are hopeful that they will obtain relief from the automatic
stay to perfect and complete the appeal. The Debtors' motion for
stay relief is now scheduled to be heard on May 11, 2016.

The Debtors submit that cause exists for the requested extensions,
since no plan can be formulated until the appeal is decided, and it
is anticipated that the appeal will not be heard until the fall.

                        About New York Crane

New York Crane & Equipment Corp., J.F. Lomma, Inc. (De.), J.F.
Lomma, Inc. (N.J.), and James F. Lomma filed Chapter 11 bankruptcy
petitions (Bankr. E.D.N.Y. Case Nos. 16-40043, 16-40044, 16-40045
and 16-40048, respectively.  The petitions were signed by James F.
Lomma as president.  New York Crane & Equipment disclosed total
assets of $9.8 million and total debts of $22.05 million.
Goldberg
Weprin Finkel Goldstein LLP serves as the Debtors' counsel.  Judge
Carla E. Craig presides over the cases.

The corporate Debtors operate crane, trucking and rigging companies
doing business in New York City and other parts of the country.
James Lomma is the president and sole shareholder of the corporate
Debtors.

On January 8, 2016, an Order was entered providing for the joint
administration of these related Chapter 11 cases.

An Official Committee of Unsecured Creditors has been appointed,
and has tapped Togut, Segal & Segal LLP as its counsel.


NEWBURY COMMON: Lists $4.5MM in Assets, $7.3MM in Debts
-------------------------------------------------------
220 Elm Street II, LLC, one of the Debtors in the bankruptcy cases
of Newbury Common Associates, LLC, et al., filed with the U.S.
Bankruptcy Court for the District of Delaware its statements of
financial affairs, and schedules of assets and liabilities,
disclosing:

     Name of Schedule              Assets         Liabilities
     ----------------            -----------      -----------
  A. Real Property                $3,520,127
  B. Personal Property            $1,005,533
  C. Property Claimed as
     Exempt
  D. Creditors Holding
     Secured Claims                                $7,044,000
  E. Creditors Holding
     Unsecured Priority
     Claims                            
  F. Creditors Holding
     Unsecured Non-Priority
     Claims                                          $328,789
                              --------------   --------------
        Total                     $4,525,660       $7,372,789

A copy of the schedules is available for free at:

    http://bankrupt.com/misc/220ElmStreet_AddlD_Schedules.pdf

                 About Newbury Common Associates

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

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

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

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

As of Jan. 7, 2016, the Debtors had incurred purported aggregate
funded secured indebtedness of approximately $177.2 million in
principal, including approximately $150.4 million of property-level
secured debt and approximately $26.8 million of purported and
allegedly unauthorized mezzanine debt.

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


NEWLEAD HOLDINGS: Needs More Time to File Annual Report
-------------------------------------------------------
NewLead Holdings Ltd. has been unable to complete its annual report
on Form 20-F for the fiscal year ended Dec. 31, 2015, on a timely
basis, without unreasonable effort or expense, because the Company
needs additional time to complete certain disclosures and analyses
to be included in the 2015 Form 20-F, according to a regulatory
filing with the Securities and Exchange Commission.  The Company
intends to file its annual report on Form 20-F no later than the
15th calendar day following the prescribed due date.

The Company expects to report its coal business as held for sale
and in discontinued operations in its annual financial statements
for the year ended Dec. 31, 2015, and 2014.  The Company expects to
report net loss before preferred dividends for the year ended Dec.
31, 2015, at least 49% higher than net loss before preferred
dividends for the same period in 2014, primarily due to
discontinued operations of the coal business during the year ended
Dec. 31, 2015, in relation to the Company's effort to set its new
strategy and future developments.  The expected losses from
discontinued operations for the year ended Dec. 31, 2015, include
an impairment charge of approximately $56 million as a result of
the classification of assets as held for sale and due to market
conditions.  The expected net loss is subject to change as the
Company is still in process of completing its annual financial
statements.

                    About NewLead Holdings Ltd.

NewLead Holdings Ltd. -- http://www.newleadholdings.com/-- is an
international, vertically integrated shipping company that owns and
manages product tankers and dry bulk vessels.  NewLead currently
controls 22 vessels, including six double-hull product tankers and
16 dry bulk vessels of which two are newbuildings.  NewLead's
common shares are traded under the symbol "NEWL" on the NASDAQ
Global Select Market.

Newlead reported a net loss attributable to the Company's
shareholders of $100 million on $12.6 million of revenues for the
year ended Dec. 31, 2014, compared to a net loss attributable to
the Company's shareholders of $158 million on $7.34 million of
revenues for the year ended Dec. 31, 2013.

As of Dec. 31, 2014, the Company had $190 million in total assets,
$300 million in total liabilities, and a $110 million total
shareholders' deficit.

Cherry Bekaert LLP, in Charlotte, North Carolina, issued a "going
concern" qualification on the consolidated financial statements
for the year ended Dec. 31, 2014, citing that the Company has
incurred a net loss, has negative cash flows from operations,
negative working capital, an accumulated deficit and has defaulted
under its credit facility agreements resulting in all of its debt
being reclassified to current liabilities all of which raise
substantial doubt about its ability to continue as a going concern.


NEXEO SOLUTIONS: S&P Affirms 'B' CCR & Revises Outlook to Positive
------------------------------------------------------------------
S&P Global Ratings affirmed its 'B' corporate credit rating on
Nexeo Solutions LLC, and revised the outlook to positive from
stable.

At the same time, based on preliminary terms and conditions, S&P
assigned a 'B' issue-level rating to the company's proposed $630
million senior secured term loan B.  The recovery rating is '3',
indicating S&P's expectation of meaningful (in the lower half of
the 50% to 70% range) recovery in the event of payment default.

The ratings on the existing term loan B and subordinated notes are
unchanged.  S&P will withdraw the ratings on this debt once the
transaction closes and these tranches have been fully repaid.

The rating action follows the announcement that WL Ross Holding
Corp., a special purpose acquisition company, has acquired a
majority stake in Nexeo, and that current majority owner, TPG
Capital L.P., would maintain a 35% stake.

"The positive outlook on Nexeo Solutions LLC reflects our view that
the acquisition by WL Ross Holdings and the corresponding
recapitalization has improved credit metrics due to a reduction in
total debt," said S&P Global Ratings credit analyst Michael
McConnell.

The positive outlook indicates S&P's expectation of at least a
one-in-three chance for an upgrade over the next 12 months.  S&P
continues to expect that favorable demand trends and ongoing cost
reduction initiatives will allow the company to expand its margins.
S&P do not believe the company will materially increase debt to
fund further acquisitions or return cash to shareholders. At the
rating, S&P expects the company to maintain FFO to debt below 12%
over the next year.

"We could raise the ratings within the next year if the company
continues to improve profitability, and if it utilizes free cash
flow to reduce debt leverage.  In order to consider an upgrade we
would expect FFO to debt to exceed 12%, which could result in our
re-assessment of Nexeo's financial risk profile to aggressive from
highly leveraged.  The improvement in credit metrics could arise
from debt paydown over the next 12 months.  We could also upgrade
the rating if margins expand by 100 basis points or revenue grows
by 5%, and this results in moderately improved credit measures.
These improvements could result from improved product mix, selling
prices, or cost reductions.  We would also need to gain comfort
that the company's financial policies would be supportive of
maintaining leverage at or above 12%, before considering an
upgrade," S&P said.

S&P could revise the outlook within the next year if an unfavorable
product-mix shift, unexpected volume deterioration, or problems
integrating recent acquisitions lead to contracting revenue and
gross margins regressing toward 2014 levels (roughly a 100 basis
point drop from 2015 levels).  Such a scenario would result in FFO
to debt remaining around 10% (pro forma for acquisitions), with
limited likelihood of improvement within 12 months.  S&P could also
lower ratings if additional debt pushes leverage to this same
level.


NORANDA ALUMINUM: Info on Executive Compensation Disclosed
----------------------------------------------------------
Noranda Aluminum Holding Corporation filed with the Securities and
Exchange Commission Amendment No. 1 on Form 10-K/A to its Annual
Report on Form 10-K for the fiscal year ended December 31, 2015,
which was filed with the Securities and Exchange Commission on
March 30, 2016.  

Amendment No. 1, according to Noranda, is being filed solely to set
forth information required by Part III, Items 11 and 12 of Form
10-K, which information was not included in the Original Form 10-K.
Specifically, Noranda disclosed executive compensation, including
"Compensation Discussion and Analysis".

"In addition, the note preceded by an asterisk on the cover page of
the Original Form 10-K has been amended to address this Amendment
No. 1, and Part IV, Item 15 of the Original Form 10-K and the Index
to Exhibits in the Original Form 10-K have been amended and
restated solely to include as exhibits new certifications by our
principal executive officer and principal financial officer," the
Company said.  Amendment No. 1 does not reflect events occurring
after the filing of the Original Form 10-K and, except as set forth
herein, does not update or modify the disclosures in the Original
Form 10-K.

A copy of the Amended Report is available at http://is.gd/inQxZs

                      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.


NUVERRA ENVIRONMENTAL: Moody's Alters PDR to 'Ca-PD/LD'
-------------------------------------------------------
Moody's Investors Service changed Nuverra Environmental Solutions,
Inc.'s Probability of Default rating to Ca-PD/LD following the
company's debt restructuring that concluded on April 15, 2016.
Moody's considers the conversion of $32 million of the company's
$400 million of 2018 unsecured notes to equity and exchange of
approximately $327 million of the notes to new second-lien secured,
paid-in-kind (PIK) notes to be a distressed exchange. The exchange,
with the PIK feature on the new second-lien notes (unrated) over
the next 2+ years, provides much needed liquidity relief but
results in only a negligible, post-transaction reduction (less than
$10 million) in the company's total debt burden. While the PIK
option provides temporary relief of cash interest expense,
additional debt will be accruing at relatively high coupon rates
during the PIK period. As a result, the Corporate Family Rating
(CFR) was affirmed at Caa3 and the unsecured notes affirmed at C.
Moody's also affirmed the SGL-4 Speculative Grade Liquidity rating
and changed the rating outlook to stable from negative.

Moody's took the following rating actions on Nuverra Environmental
Solutions, Inc.:

-- Corporate Family Rating, affirmed at Caa3

-- Probability of Default Rating, revised to Ca-PD/LD from Ca-PD

-- 9.875% senior notes due 2018, affirmed at C, LGD-6

-- Speculative Grade Liquidity, affirmed at SGL-4

-- Rating outlook changed to stable from negative

RATINGS RATIONALE

Under the terms of Nuverra's out-of-court debt restructuring,
participating unsecured note holders received new second-lien notes
totaling approximately $327 million and $908,000 in shares of
common stock to those tendering holders who elected to exchange for
common stock. Nuverra's CEO will convert approximately $31 million
of his notes into equity upon stockholder approval of an increase
in the number of shares of common stock authorized. The new second
lien notes PIK interest at 12.5% for the October 2016 scheduled
interest payment, and convert to 50% PIK/50% cash pay at 10% for
the next three scheduled payments before ending with cash payments
at 10% until maturity in April 2021. In addition, Nuverra put in
place a first-lien term loan (unrated) totaling $24 million that
will PIK at 13% until maturity in April 2018.

Moody's views the exchange of the original 2018 unsecured notes
into new second-lien notes to be a distressed exchange and a
limited default on the unsecured notes as it represents a
diminished financial obligation relative to the original contract
and had the effect of permitting Nuverra to avoid a potential
payment default. As noted above, Moody's appended the Ca-PD PDR
with a "/LD" designation indicating limited default. The "/LD"
designation will be removed in approximately three business days.

Approximately $40 million of the 2018 unsecured notes were not
exchanged and remain outstanding. Since the majority of the
original 2018 note holders agreed to the terms of the exchange
offer, the majority of the covenants on the remaining 2018 notes
were eliminated. The 2018 notes are now effectively subordinated to
a significant amount of secured debt and would likely experience a
substantial loss in the event of a default.

Nuverra's Caa3 CFR reflects the sharp deterioration in the
company's operating results in 2015, ongoing earnings pressure as
the impact of the collapse in oil and natural gas prices on
drilling activity lingers, debt-to-EBITDA in excess of 12x and it's
still-limited liquidity position going forward. The exchange helps
alleviate near-term liquidity pressure, but overriding operating
challenges remain as drilling activity is curtailed and customers
rein in capital spending and pursue cost reductions in the current
price environment. Debt-to-EBITDA will remain high based on the
limited amount of debt reduction occurring as part of the
transactions as well as the PIK impact on the roughly $350 million
of new secured debt. Accordingly, Moody's believes the risk of a
more significant debt restructuring is high. Nuverra faces risks
and challenges to maintain sufficient liquidity to meet its
obligations as well as to effectively operate the business in the
midst of the energy sector's severe downturn.

The stable rating outlook considers the reduction in cash interest
expense over the next two years and the additional headroom
provided under the revised financial maintenance covenants, which
provides some flexibility to evaluate operating developments.

The continued decline in revenue and profitability leading to
negative free cash flow, a deterioration of liquidity, or increase
in the likelihood of a default could lead to a downgrade.

An upgrade is unlikely over the near-to-intermediate term but an
improved liquidity position that allows Nuverra sufficient time for
market conditions to improve is necessary to consider a change to a
higher rating. Operationally, an improved outlook for revenue and
free cash flow, most likely driven by a sharp rebound in energy
prices and drilling activity in the US, coupled with lower leverage
and an improving liquidity profile could lead to higher ratings.

Nuverra Environmental Solutions, Inc. provides full-cycle
environmental solutions to energy end markets, focusing on the
collection, transportation, treatment, recycling and disposal of
restricted solids, water and wastewater. Customers are engaged in
unconventional onshore energy exploration and production in the US,
namely the drilling, completion and ongoing production of shale oil
(the Bakken, Eagle Ford and Permian Basin shale areas) and natural
gas (the Marcellus, Haynesville and Utica shale areas). Nuverra
reported revenues of nearly $360 million for its fiscal year ended
December 31, 2015, down from $535 million in 2014.


NUVERRA ENVIRONMENTAL: S&P Affirms Then Withdraws 'SD' CCR
----------------------------------------------------------
S&P Global Ratings said that its 'SD' corporate credit rating on
Scottsdale, Ariz.-based oilfield service provider Nuverra
Environmental Solutions Inc. is unchanged.  S&P's 'D' issue-level
ratings on the company's senior unsecured debt are also unchanged.
The recovery rating remains '4', indicating S&P's expectation of
average (30% to 50%, higher end of the range) recovery in the event
of a payment default.  The ratings reflect S&P's assessment that
there is the potential for additional exchanges of the company's
existing 2018 notes, including the notes held by an entity
controlled by Mark Johnsrud, CEO and chairman of the board of
Nuverra.

S&P has withdrawn the corporate credit and debt ratings at the
company's request.


ONEX TSG: Moody's Extends B1 Rating to New $130MM 1st Lien Loan
---------------------------------------------------------------
Moody's Investors Service has extended the B1 rating on Onex TSG
intermediate Corp.'s (the indirect parent of The Schumacher Group -
"Schumacher") senior secured first lien term loan to the upsized
facility. The facility is being upsized from $399 million to
approximately $529 million.

The incremental $130 million will fund the acquisition of ECI
Healthcare Partners ("ECI"), a provider of emergency medicine,
hospitalist and urgent care physician practice management.

Despite a slight increase in leverage, Moody's views the
acquisition as modestly credit positive due to the significantly
broadened footprint, particularly in the mid-west, with the
addition of almost 2 million annual patient visits. Pro forma for
the transaction, Moody's expects adjusted debt to EBITDA including
synergies to be about 5.4 times for the period ended December 31,
2015, compared to reported leverage of 5.3 times. Over the next
twelve to eighteen months Moody's expects financial leverage to
remain in the low 5.0 times range.

The B2 Corporate Family Rating reflects Schumacher's small size
relative to larger competitors, the company's high financial
leverage and its significant exposure to uninsured patients. In
addition, the company's high concentration in emergency medicine is
a further constraint on the rating. Schumacher's rating is
supported by favorable market trends within healthcare services
outsourcing, strong organic growth and no significant customer
concentration.

Headquarter in Lafayette, LA, Onex TSG Intermediate Corp. is a
national provider of integrated emergency medicine, hospital
medicine services and healthcare advisory services. Schumacher
operates in 28 states with nearly 1,600 non-clinician employees and
over 4,500 clinicians. For the year ended December 31, 2015,
Schumacher's net revenues were $1,004 million. Schumacher is owned
by private equity sponsors Onex Partners Manager LP.


PALADIN ENERGY: Seeks Authority to Use Cash Collateral
------------------------------------------------------
Paladin Energy Corp. seeks authority from the U.S. Bankruptcy Court
to use Cash Collateral on an emergency, interim basis, for the
period from the Petition Date to approximately June 1, 2016, in the
amounts listed on the Budget.

According to the Debtor, the Estate has a need for immediate and
continuing usage of Cash Collateral to prevent immediate,
irreparable, and substantial injury, and thus the Debtor further
requests the Court's final authority to use Cash Collateral for an
additional seven (7) month period, through December 31, 2016
subject to any further extension thereof by agreement or by future
order of the Court.

The Debtor narrates that it is indebted to its senior, secured
lender, MUFG Union Bank, N.A., as the administrative agent, in the
approximate amount of $22,952,403, as of the Petition Date which
originated from the Debtor’s 2008 loan in the original principal
amount of $40 million.

The Debtor also requests that it be permitted a 10% variance for
each Budget item for each period, with an overall Budget variance
of no more than 15% in order to protect the Estate against
unexpected variances and to minimize the need for additional
motions and hearing.

The Debtor acknowledges that it must provide adequate protection to
the Bank in order to use Cash Collateral, and tells the Court that
the Bank will be adequately protected because: (a) the Debtor's
usage of Cash Collateral will lead to increased Cash Collateral as
contemplated by the Budget, (b) the Debtor's usage of Cash
Collateral will protect, preserve, maintain, safeguard, and enhance
the Bank's collateral by avoiding a loss of interests and avoiding
potentially disastrous liabilities being imposed against
collateral, (c) the Debtor proposes to grant the Bank a lien in all
property, and (d) the Debtor propose to grant the Lender a
superpriority administrative claim, to the extent of any diminution
in the value of Cash Collateral resulting from the Debtor's usage
thereof.

A full-text copy of the Cash Collateral Motion dated April 25, 2016
is available at http://bit.ly/1SZzgbT

Proposed Attorneys for the Debtor-In-Possession:

       Davor Rukavina, Esq.
       Edward Clarkson, Esq.
       MUNSCH HARDT KOPF & HARR, P.C.
       3800 Ross Tower
       500 N. Akard Street
       Dallas, Texas 75201
       Telephone: (214) 855-7500
       Facsimile: (214) 978-5359
       Email: drukavina@munsch.com
              eclarkson@munsch.com

Paladin Energy Corp. sought protection under Chapter 11 of the
Bankruptcy Code on April 21, 2016 (Bankr. N.D. Tex., Case No.
16-31590).  The case is assigned to Judge Barbara J. Houser.  The
Debtor is represented by Davor Rukavina, Esq., at Munsch, Hardt,
Kopf & Harr, P.C., in Dallas, Texas.  The Debtor estimated assets
ranging from $10 million to $50 million and estimated debts ranging
from $10 million to $50 million.  The petition was signed by George
Fenton, president.


PALMAZ SCIENTIFIC: Can Access $150K Financing
----------------------------------------------
Judge Craig A. Gargotta of the Bankruptcy Court for the Western
District of Texas, San Antonio Division, authorizes Debtors Palmaz
Scientific Inc., Advanced Bio Prosthetic Surfaces, Ltd., ABPS
Management, LLC, and ABPS Venture One, Ltd., to borrow up to the
aggregate amount of $150,000 (the "Third Advance").

Out of the Third Advance, $75,000 will be paid to Palmaz Scientific
Inc. immediately upon entry of the Third Interim Order, while the
remaining $75,000 will be paid on April 26, 2016 -- these payments
will be made in care of Dr. Eugene Sprague.

Texas Treasury Safekeeping Trust Company supports the entry of an
order authorizing the Debtors to obtain DIP financing on a final
basis, and allowing the Debtors and their professionals the
opportunity to pursue a sale of the Debtors’ assets in accordance
with Section 363 of the Code. Trust Company sees no reason to halt
the Chapter 11 bankruptcy process considering that the Debtor’s
case is still relatively new, thus conversion of these cases to
cases under Chapter 7 of the Code would likely serve to diminish,
rather than enhance, the value of the Debtors and the likelihood of
any meaningful recovery by creditors.  

A full-text copy of the Third Interim DIP Order dated April 21,
2016 is available at http://is.gd/JOF59X

Palmaz Scientific Inc., et al. are represented by:

       Michael M. Parker, Esq.
       Steve A. Peirce, Esq.
       NORTON ROSE FULBRIGHT US LLP
       300 Convent Street, Suite 2100
       San Antonio, TX  78205-3792
       Telephone: (210) 224-5575
       Facsimile: (210) 270-7205
       Email: michael.parker@nortonrosefulbright.com
              steve.peirce@nortonrosefulbright.com

Texas Treasury Safekeeping Trust Company is represented by:

       J. Casey Roy, Esq.
       ASSISTANT ATTORNEY GENERAL
       Bankruptcy & Collections Division
       P. O. Box 12548
       Austin, Texas 78711-2548
       Telephone: (512) 463-2173
       Facsimile: (512) 936-1409
       Email: casey.roy@texasattorneygeneral.gov

              About Palmaz Scientific

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

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

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

The case is assigned to Judge Craig A. Gargotta.


PEABODY ENERGY: Add'l Info on D&Os, Corp. Governance Filed
----------------------------------------------------------
Peabody Energy Corporation filed with the Securities and Exchange
Commission Amendment No. 1 on Form 10-K/A to its Annual Report on
Form 10-K for the fiscal year ended December 31, 2015, which was
filed with the Securities and Exchange Commission on March 16,
2016.

"The Company is filing this Amendment solely to include information
required by Items 10, 11, 12, 13 and 14 of Part III of Form 10-K.
This information was previously omitted from the Original Form 10-K
in reliance on General Instruction G(3) to Form 10-K, which permits
the information in the above referenced items to be incorporated in
the Form 10-K by reference from a definitive proxy statement if
such statement is filed no later than 120 days after the Company's
fiscal year end," the Company said.

On April 13, 2016, the Company and a majority of the Company's
wholly owned domestic subsidiaries, as well as one international
subsidiary in Gibraltar, filed voluntary petitions for
reorganization under chapter 11 of the Bankruptcy Code in the
United States Bankruptcy Court for the Eastern District of
Missouri. As such, the Company does not expect to file a definitive
proxy statement containing this information before April 29, 2016
and therefore the Company is filing this Amendment to include the
Part III information in its Form 10-K.

Pursuant to the rules of the SEC, Part IV, Item 15 has also been
amended to contain the currently dated certifications from the
Company's principal executive officer and principal financial
officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
The certifications of the Company's principal executive officer and
principal financial officer are attached to this Amendment No. 1 as
Exhibits 31.3 and 31.4. Because no financial statements have been
included in this Amendment No. 1 and this Amendment No. 1 does not
contain or amend any disclosure with respect to Items 307 and 308
of Regulation S-K, paragraphs 3, 4 and 5 of the certifications have
been omitted. Part IV, Item 15 has also been amended to include
certain exhibits required to be filed as part of this Amendment.

This Amendment amends and restates in its entirety Items 10, 11,
12, 13 and 14 of Part III of the Original Form 10-K, and it deletes
the reference on the cover of the Original Form 10-K to the
incorporation by reference to portions of the definitive proxy
statement into Part III of the Original Form 10-K. Except as
described above, this Amendment does not otherwise revise, restate,
modify or update any information in the Original Form 10-K.
Accordingly, this Amendment should be read in conjunction with the
Original Form 10-K and the Company's other filings with the SEC
prior to the time of the filing of the Original Form 10-K.

A copy of the Amendment is available at http://is.gd/snhBR5

                       About Peabody Energy

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.  The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount
Mine in Australia.  In addition to its mining operations, the
Company markets and brokers coal from other coal producers, both
as principal and agent, and trade coal and freight-related
contracts through trading and business offices in Australia,
China, Germany, India, Indonesia, Singapore, the United Kingdom
and the U.S.

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777 million in 2014 and the $513 million net loss
in 2013.

At Dec. 31, 2015, the Company had total assets of $11.02 billion
against $10.1 billion in total liabilities, and stockholders'
equity of $918.5 million.

On April 13, 2016, Peabody Energy Corp. and 153 affiliates filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code.  The 154 cases are pending joint
administration before the Honorable Judge Barry S. Schermer under
Case No. 16-42529 in the U.S. Bankruptcy Court for the Eastern
District of Missouri.

As of the Petition Date, PEC has approximately $4.3 billion in
outstanding secured debt obligations and $4.5 billion in
outstanding unsecured debt obligations.

The Debtors tapped Jones Day as general counsel; Armstrong,
Teasdale LLP as local counsel; Lazard Freres & Co. LLC and
investment banker Lazard PTY Limited as investment banker; FTI
Consulting, Inc., as financial advisors; and Kurtzman Carson
Consultants, LLC, as claims, ballot and noticing agent.


PEABODY ENERGY: May 17 Final Hearing on Bid to Limit Equity Trades
------------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of Missouri will
convene a hearing on May 17 to consider final approval of the
request of Peabody Energy Corporation to establish notice and
objection procedures that must be satisfied before certain
transfers of beneficial interests in equity securities in PEC are
deemed effective.

Objections to the request are due May 12

The common stock of PEC is publicly traded.  As of April 4, 2016,
there were approximately 18,530,028 shares of PEC common stock
outstanding, with a total market capitalization of approximately
$43 million.  As of the Petition Date, PEC also has outstanding
$732.5 million in principal amount of convertible junior
subordinated debentures that are generally convertible into shares
of PEC perpetual preferred stock upon the occurrence of certain
events but may be converted into shares PEC common stock in
limited
circumstances.

The Debtors have incurred losses and other creditable expenses for
federal income tax purposes during the course of operating their
business.  As of Dec. 31, 2015, the Debtors currently estimate
they
have net federal tax credits of approximately $635 million and
federal tax capital losses of approximately $180 million, and the
Debtors expect to incur additional tax losses and credits through
the Petition Date and through the time that they emerge from their
chapter 11 cases.  NOLs are valuable tax attributes, which could
translate into future reductions of the Debtors' income tax
liabilities.

Because an "ownership change" may negatively impact the Debtors'
utilization of their NOLs, the Debtors proposed these procedures:

   * Any "substantial equityholder" -- entity that has direct or
indirect beneficial ownership of at least at least 833,852 shares
(representing approximately 4.5% of the 18,530,028 issued and
outstanding shares of common stock) of PEC -- must serve and file
a
declaration on or before the later of (i) 14 days after the date
of
the interim order approving the procedures and (ii) 14 days after
becoming a substantial shareholder.

   * At least 28 days prior to effectuating any transfer of the
equity securities that would result in another entity becoming a
substantial shareholder, the parties to such transaction must
serve
and file a notice of the intended stock transaction.

   * The Debtors have 21 days after receipt of the stock
transaction notice to object to the proposed transaction.

   * If the Debtors do not object, the proposed transaction may
proceed.

   * Any transfer of the equity securities in violation of the
procedures will be null and void ab initio.

The Court has approved the Debtors' equity transfer procedures on
an interim basis.  On April 18, the Court entered an amended
interim order.

                       About Peabody Energy

Headquartered in St. Louis, Missouri, Peabody Energy Corporation
claims to be the world's largest private-sector coal company.  As
of Dec. 31, 2014, the Company owned interests in 26 active coal
mining operations located in the United States (U.S.) and
Australia.  The Company has a majority interest in 25 of those
mining operations and a 50% equity interest in the Middlemount
Mine
in Australia.  In addition to its mining operations, the Company
markets and brokers coal from other coal producers, both as
principal and agent, and trade coal and freight-related contracts
through trading and business offices in Australia, China, Germany,
India, Indonesia, Singapore, the United Kingdom and the U.S.

Peabody posted a net loss of $1.988 billion for 2015, wider from
the net loss of $777 million in 2014 and the $513 million net loss
in 2013.

At Dec. 31, 2015, the Company had total assets of $11.02 billion
against $10.1 billion in total liabilities, and stockholders'
equity of $918.5 million.

On April 13, 2016, Peabody Energy Corp. and 153 affiliates filed
voluntary petitions for relief under Chapter 11 of the United
States Bankruptcy Code.  The 154 cases are pending joint
administration before the Honorable Judge Barry S. Schermer under
Case No. 16-42529 in the U.S. Bankruptcy Court for the Eastern
District of Missouri.
As of the Petition Date, PEC has approximately $4.3 billion in
outstanding secured debt obligations and $4.5 billion in
outstanding unsecured debt obligations.

The Debtors tapped Jones Day as general counsel; Armstrong,
Teasdale LLP as local counsel; Lazard Freres & Co. LLC and
investment banker Lazard PTY Limited as investment banker; FTI
Consulting, Inc., as financial advisors; and Kurtzman Carson
Consultants, LLC, as claims, ballot and noticing agent.

                           *     *     *

A copy of the affidavit in support of the first-day motions is
available for free at:

    http://bankrupt.com/misc/Peabody_7_1st_Day_Affidavit.pdf


PENTON BUSINESS: S&P Raises CCR to 'B+' on Reduced Leverage
-----------------------------------------------------------
S&P Global Ratings said that it raised its corporate credit rating
on New York City-based business-to-business media company Penton
Business Media Holdings Inc. to 'B+' from 'B'.  The rating outlook
is stable.

At the same time, S&P raised its issue-level ratings on the company
and its subsidiaries' debt by one notch, in line with the corporate
credit rating.  The recovery ratings on the debt remain unchanged.

"The upgrade reflects our expectation that Penton will maintain
lease-adjusted leverage below 5x on a sustained basis," said S&P
Global Ratings credit analyst Jawad Hussain.  "We expect the
company to continue to moderately grow EBITDA, and that it will use
its healthy discretionary cash flow generation to fund tuck in
acquisitions and repay debt while maintaining a less aggressive
financial policy, where leverage remains in the 4x-5x area -- in
line with our aggressive financial risk profile assessment."

The stable outlook reflects S&P's expectation that Penton will
continue to have healthy discretionary cash flow, leverage in the
4x-5x area, and adequate liquidity.

S&P could lower its corporate credit rating on Penton if the
company's adjusted leverage increases above 5.5x.  This could
result from a special dividend to the private equity owners,
debt-financed acquisitions, or an economic downturn resulting in
weaker operating performance.

Although unlikely over the next year, S&P could raise the rating if
the company meaningfully increases its scale and diversity among
end markets and reduces leverage to about 4x due to
stronger-than-expected operating performance and continued debt
repayment.


PIONEER HEALTH: Can Access Cash Collateral Through May 22
---------------------------------------------------------
The U.S. Bankruptcy Court for the Southern District of Mississippi
authorizes Pioneer Health Services, Inc. and its affiliated debtors
to use cash collateral as set forth in the Budget and under the
terms of the Third Interim Order in order to satisfy their
immediate liquidity needs through May 22, 2016.

A full-text copy of the Third Interim Cash Collateral Order dated
April 27, 2016, with Budget is available at http://is.gd/pvaxJx

Community Capital Bank of Virginia, as Servicing Agent for VCC
08-05, LLC and Virginia Community Capital, Inc., opposed to the
terms contained in the Debtors' proposed order granting the use of
cash collateral that provides that superpriority administrative
expense claims of Capital One Commercial Banking and the Internal
Revenue Service and to the extent that the proposed order
presumably attempts to authorize the use of cash collateral through
July 2016 on the same terms as the Second Cash Collateral Order,
without any statement to this effect as well as it does not specify
the terms on which the use of cash collateral is authorized.

Although the Official Committee of the Unsecured Creditors supports
the Debtors' use of Cash Collateral, however, after the Committee
has communicated number of issues to the Debtors' counsel and
counsel for Capital One as needing revision in the Cash Collateral
Order, there remains only two unresolved issues:

   (1) Reporting Requirements: The Second Interim Cash Collateral
Order directs the Debtors to "continue all reporting to [Capital
One] as required by the Revolving Loan Credit Documents and Term
Loan Credit Documents." Thus, Capital One should disclose to the
Court and the Committee exactly what reporting it requires in order
to evaluate the Debtors’ use of Cash Collateral, especially when
a violation would constitute an Event of Default that would result
in the termination of the Debtors' right to use Cash Collateral and
have potentially catastrophic consequences.

   (2) Requirement of Cure: "Event of Default" is defined in of the
Second Interim Cash Collateral, but the order makes no provision
for notice to the Debtor, Committee, or the U.S. Trustee of any
alleged default or allowance for an opportunity to cure. Therefore,
Order should be modified to include that "the Debtors, the
Committee, and the U.S. Trustee should be provided with written
notice of any alleged default and provided at least five (5)
business days to cure before such alleged default constitutes an
"Event of Default" and potentially terminates the Debtors' right to
use Cash Collateral."

The Official Committee of the Unsecured Creditors is represented
by:

       Darryl S. Laddin, Esq.
       Sean C. Kulka, Esq.
       ARNALL GOLDEN GREGORY LLP
       171 17th Street, N.W., Suite 2100
       Atlanta, Georgia 30363-1031
       Telephone: (404) 873-8500
       Facsimile: (404) 873-8501
       Email: darryl.laddin@agg.com
              sean.kulka@agg.com    

       -- and --

       James A. McCullough, II, Esq.
       BRUNINI, GRANTHAM, GROWER & HEWES, PLLC
       Post Office Drawer 119
       Jackson, Mississippi
       Telephone: (601) 948-3101
       Facsimile: (601) 960-6902
       Email: jmccullough@brunini.com

Special Conflicts Counsel for Community Capital Bank of Virginia,
as Servicing Agent for VCC 08-05, LLC and Virginia Community
Capital, Inc.:

       John D. Moore, Esq.
       LAW OFFICE OF JOHN D. MOORE, P.A.
       301 Highland Park Cove, Suite B
       Ridgeland, MS 39157
       Telephone: (601) 853-9131
       Facsimile: (601) 853-9139
       Email: john@johndmoorepa.com

             About Pioneer Health

Pioneer Health Services, Inc. and its debtor-affiliates, including
Medicomp Inc., filing separate Chapter 11 bankruptcy petitions
(Bankr. S.D. Miss. Case No. 16-01119 to 16-01126) on March 30,
2016.  The Debtors provide healthcare services to rural
communities, and own and manage rural critical access hospitals.

Judge Hon. Neil P. Olack presides over the Debtors' cases.  The Law
Offices of Craig M. Geno PLLC serves as the Debtors' counsel.

Pioneer Health Services estimated $10 million to $50 million in
both assets and liabilities.  The petitions were signed by Joseph
S. McNulty III, president.


PIONEER HEALTH: Lender Seeks Adequate Protection
------------------------------------------------
Community Capital Bank of Virginia, as Servicing Agent for VCC
08-05, LLC, and Virginia Community Capital, Inc., ask the U.S.
Bankruptcy Court to compel adequate protection from Pioneer Health
Services of Patrick County, Inc.

The Lender tells the Court that the payoff due to the VCC Lender is
no less than $6,981,060, plus unearned interest, charges, legal
fees and expenses, and past due arrearage of $108,184 for the
Debtor’s failure to make monthly payments for the months of
February, March and April, 2016, while the payoff due to the
Community Capital Lender is no less than $117,443 together with
unearned interest, charges, legal fees and expenses -- monthly
payment of principal and interest in the amount of $2,986 is
currently due.

The Lender also narrates that the Debtor should be required to pay
past due real estate taxes and keep current all future real estate
taxes as a form of adequate protection considering that the Town of
Stuart and the County of Patrick maintained taxes liens in the
collective amount of $51,972 for unpaid 2015 real estate taxes with
respect to the Property plus an additional tax obligation of
approximately $18,116 falling due on June 5, 2016 for continued
accruing interest and penalties.

Accordingly, the Lender avers that although the Lenders are
oversecured with respect to the Property, but as the interest and
taxes continue to accrue, the equity in the Property continues to
erode such that the Debtor should be required to make the regular
monthly payments in the amounts required under the Notes as the
interest accrues since the Lenders face a loss of equity in an
amount equal to any decrease in the value of the Property.
Moreover, the VCC Lender expresses its willingness to accept
payments as partial adequate protection with the monthly payments
being calculated at the default rate of interest of 5.927933
percent per annum in June, 2016.

The Court has scheduled a hearing on the Motion to be held on May
20, 2016 and any responses are due by the 12th of May.

Counsel for Community Capital Bank of Virginia, as Servicing Agent
for VCC 08-05, LLC and Virginia Community Capital, Inc.:

       Michael A. Condyles, Esq.
       Jeremy S. Williams, Esq.
       KUTAK ROCK LLP
       Bank of America Center
       1111 East Main Street, Suite 800
       Richmond, Virginia 23219-3500
       Telephone: (804) 644-1700
       Facsimile: (804) 783-6192
       Email: michael.condyles@kutakrock.com
              jeremy.williams@kutakrock.com

       -- and --

       Kristina M. Johnson, Esq.
       Jones Walker LLP
       190 East Capitol Street
       Jackson, MS 39201
       Telephone: (601) 949-4785
       Facsimile: (601) 949-4804
       Email: kjohnson@joneswalker.com

           About Pioneer Health

Pioneer Health Services, Inc. and its debtor-affiliates, including
Medicomp Inc., filing separate Chapter 11 bankruptcy petitions
(Bankr. S.D. Miss. Case No. 16-01119 to 16-01126) on March 30,
2016.  The Debtors provide healthcare services to rural
communities, and own and manage rural critical access hospitals.

Judge Hon. Neil P. Olack presides over the Debtors' cases.  The Law
Offices of Craig M. Geno PLLC serves as the Debtors' counsel.

Pioneer Health Services estimated $10 million to $50 million in
both assets and liabilities.  The petitions were signed by Joseph
S. McNulty III, president.


POPEXPERT INC: U.S. Trustee Forms 3-Member Committee
----------------------------------------------------
The U.S. trustee for Region 17 appointed three creditors of
PopExpert, Inc., to serve on the official committee of unsecured
creditors.

The committee members are:

     (1) Learn Capital Venture Partners II, L.P.
         620 Congress Ave., STE 200
         Austin, TX 78701

     (2) Pacific Sequoia Holdings, LLC
         250 University Ave., Suite 300
         Palo Alto, CA 94301

     (3) Michael Angiletta

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense. They may investigate the debtor's business and financial
affairs. Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                         About PopExpert

PopExpert, Inc. sought protection under Chapter 11 of the
Bankruptcy Code in the Northern District of California (San
Francisco) (Case No. 16-30390) on April 12, 2016.  The petition was
signed by Ingrid Sanders, chief executive officer.

The Debtor is represented by Ori Katz, Esq., at Sheppard, Mullin,
Richter & Hampton. The case is assigned to Judge Hannah L.
Blumenstiel.

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


PORTER BANCORP: Posts $1.48 Million Net Income for First Quarter
----------------------------------------------------------------
Porter Bancorp, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
of $1.48 million on $9.18 million of interest income for the three
months ended March 31, 2016, compared to net income of $594,000 on
$9.20 million of interest income for the same period in 2015.

As of March 31, 2016, Porter Bancorp had $938 million in total
assets, $904 million in total liabilities and $34.6 million in
total stockholders' equity.

Total assets decreased $10.6 million, or 1.1%, to $938 million at
March 31, 2016, from $949 million at Dec. 31, 2015.  This decrease
was primarily attributable to a decrease in cash and cash
equivalents of $13.0 million, a decrease in securities available
for sale of $3.5 million, and a decrease in OREO of $1.4 million,
offset by an increase in bank owned life insurance of $5.1 million
and an increase of $1.9 million in net loans receivable.

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

                     http://is.gd/BdVFLm

                     About Porter Bancorp

Porter Bancorp, Inc., is a bank holding company headquartered in
Louisville, Kentucky.  Through its wholly-owned subsidiary PBI
Bank, the Company operates 18 full-service banking offices in
12 counties in Kentucky.

Porter Bancorp reported a net loss of $3.21 million on $36.57
million of interest income for the year ended Dec. 31, 2015,
compared to a net loss of $11.15 million on $39.51 million of
interest income for the year ended Dec. 31, 2014.

The Company's auditor Crowe Horwath, LLP, in Louisville, Kentucky,
issued a "going concern" qualification on the consolidated
financial statements for the year ended Dec. 31, 2015, citing that
"the Company has incurred substantial losses in 2015, 2014 and
2013, largely as a result of asset impairments resulting from the
re-evaluation of fair value and ongoing operating expenses related
to the high volume of other real estate owned and non-performing
loans.  In addition, the Company's bank subsidiary is not in
compliance with a regulatory enforcement order issued by its
primary federal regulator requiring, among other things, increased
minimum regulatory capital ratios as well as being involved in
various legal proceedings in which the Company disputes material
factual allegations against the Company.  Additional losses,
adverse outcomes from legal proceedings or the continued inability
to comply with the regulatory enforcement order may result in
additional adverse regulatory action.  These events raise
substantial doubt about the Company's ability to continue as a
going concern."


POSITIVEID CORP: Closes $437,500 Securities Purchase Agreement
--------------------------------------------------------------
PositiveID Corporation, on April 27, 2016, closed a Securities
Purchase Agreement with Union Capital, LLC, providing for the
purchase of two Convertible Redeemable Notes in the aggregate
principal amount of $437,500, with the first note being in the
amount of $218,750 and the second note being in the amount of
$218,750.

Union Note I has been funded, with the Company receiving $210,000
of net proceeds (net of original issue discount).  With respect to
the Union Note II, Union issued a secured note to the Company in
the same amount to offset the Union Note II.  The funding of Union
Note II is subject to certain conditions as described in Union Note
II.  Union is required to pay the principal amount of the Union
Secured Note in cash and in full prior to executing any conversions
under the Union Note II.  The Union Notes bear an interest rate of
12%, and are due and payable on April 27, 2017. The Union Notes may
be converted by Union at any time into shares of Company's common
stock (as determined in the Notes) calculated at the time of
conversion, except for Union Note II, which requires full payment
of the Union Secured Note by Union before conversions may be made.

The Union Notes are long-term debt obligations that are material to
the Company.  The Union Notes may be prepaid in accordance with the
terms set forth in the Union Notes.  The Union Notes also contain
certain representations, warranties, covenants and events of
default including if the Company is delinquent in its periodic
report filings with the Securities and Exchange Commission, and
increases in the amount of the principal and interest rates under
the Union Notes in the event of such defaults.  In the event of
default, at the option of Union and in Union's sole discretion,
Union may consider the Union Notes immediately due and payable.

                       About PositiveID

Delray Beach, Fla.-based PositiveID Corporation has historically
developed, marketed and sold RFID systems used for the
identification of people in the healthcare market.  Beginning in
early 2011, the Company has focused its strategy on the growth of
its HealthID business, including the continued development of its
GlucoChip, its Easy Check breath glucose detection device, its
iglucose wireless communication system, and potential strategic
acquisition opportunities of businesses that are complementary to
its HealthID business.

PositiveID reported a net loss attributable to common stockholders
of $11.5 million on $2.94 million of revenues for the year ended
Dec. 31, 2015, compared with a net loss attributable to common
stockholders of $8.22 million on $945,000 of revenues for the year
ended Dec. 31, 2014.

As of Dec. 31, 2015, PositiveID Corp had $4.69 million in total
assets, $16.5 million in total liabilities and a stockholders'
deficit of $11.8 million.

Salberg & Company, P.A., in Boca Raton, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company reported a
net loss, and used cash for operating activities of approximately
$11,404,000 and $4,507,000 respectively, in 2015.  At Dec. 31,
2015, the Company had a working capital deficiency, a stockholders'
deficit and an accumulated deficit of approximately $10,694,000,
$11,842,000 and $144,161,000 respectively.  These matters raise
substantial doubt about the Company's ability to continue as a
going concern.


QUEST SOLUTION: Appoints Joey Trombino as Chief Financial Officer
-----------------------------------------------------------------
Quest Solution, Inc., announced that it has appointed Joey Trombino
as chief financial officer.  Mr. Trombino will be located at the
Montreal, Canada office.

Mr. Trombino was previously interim chief financial officer at
Asturia Technologies Inc., a privately held provider of an advanced
software platform converging the physical and virtual gaming
spaces.  Previously, he was Interim CFO of Hybrid Paytech World, a
Fintech technology leader in the digital incentives, couponing and
payment space listed on the Canadian Securities Exchange under
ticker MOS.  Previously, he was chief financial officer at Malaga,
Inc, a mining company dual-listed on the Toronto Stock Exchange and
OCTQX.

Gilles Gaudreault, chief executive officer of Quest Solution,
commented, "Joey is a seasoned accounting and finance executive who
brings terrific skills and experience across both the public and
private markets to our Company.  By consolidating our finance
leadership with the rest of the executive team in Montreal, we
expect to realize operational efficiencies and streamline our
processes.  We are excited to have him join our team and look
forward to him communicating with our investors in the near term."

Mr. Trombino added, "Quest is a compelling company uniquely
positioned for sustainable growth, and I am excited to join the
team at this point in the company's development.  I realize I am
entering this position in the middle of our preparation of our 10-Q
for the first quarter, so I have already begun to hit the ground
floor running.  I look forward to formally meeting our shareholders
on our quarterly investor conference call."

Mr. Trombino replaces Scot Ross, who has resigned from the position
of Chief Financial Officer, effective immediately.  Mr. Ross has
moved to the position of Vice-President of Finance, a role that
will allow him to continue to provide accounting and finance
support to Mr. Trombino from the Company's California office.

Scot Ross added, "From serving as the CFO for the past two
acquisitions and now having the CEO located on the East Coast, it
is more efficient to have the CFO in the same office as the CEO.  I
am looking forward to continuing to assist the company."

In connection with Mr. Trombino's appointment as chief financial
officer of the Company, the Company and Mr. Trombino entered into
an Employment Agreement, dated April 19, 2016.  The Trombino
Employment Agreement has an initial term of two years, which Term
will automatically renew for successive one year terms unless
terminated by either party upon notice given no later than 60 days'
before to the end of the then-current Term.  Mr. Trombino's initial
base salary will be C$180,000 per year.  Mr. Trombino will be
eligible to receive (i) a one-time sign-on bonus of 100,000 shares
of the Company's restricted common stock, which shares will vest on
the one year anniversary of the effective date of the Trombino
Employment Agreement and (ii) a performance bonus at the end of the
Company's fiscal year 2016 based on measurable objectives, to be
approved by the CEO and the Compensation Committee, equal to up to
30% of his base salary.

                      About Quest Solution

Quest Solution (formerly known as Amerigo Energy, Inc.) is a
national mobility systems integrator with a focus on design,
delivery, deployment and support of fully integrated mobile
solutions.  The Company takes a consultative approach by offering
end to end solutions that include hardware, software,
communications and full lifecycle management services.  The highly
tenured team of professionals simplifies the integration process
and delivers proven problem solving solutions backed by numerous
customer references.  Motorola, Intermec, Honeywell, Panasonic,
AirWatch, Wavelink, SOTI and Zebra are major suppliers which Quest
Solution uses in its systems.

Quest Solution reported a net loss of $1.71 million on $63.9
million of total revenues for the year ended Dec. 31, 2015,
compared to net income of $301,649 on $37.3 million of total
revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Quest Solution had $51.9 million in total
assets, $52.3 million in total liabilities and a total
stockholders' deficit of $471,367.

The Company's auditors RBSM LLP, in Leawood, Kansas, issued a
"going concern" qualification on the consolidated financial
statements for the year ended Dec. 31, 2015, citing that
the Company has a working capital deficiency and significant
subordinated debt resulting from acquisitions.  These factors raise
substantial doubt about the Company's ability to continue as a
going concern.


QUICK CHANGE ARTIST: Court Extends Plan Exclusivity to June 21
--------------------------------------------------------------
At the behest of Quick Change Artist LLC, the U.S. Bankruptcy Court
for the Southern District of Florida extended the period within
which the Debtor has the exclusive right to file its Plan and
Disclosure Statement pursuant to 11 U.S.C. Sec. 1121(e) by 60 days,
up to and including June 21, 2016.

In seeking an extension, the Debtor explains it is in the midst of
an adversary proceeding to recover substantial funds to aid in
reorganization and in negotiations with its secured creditor.  The
Debtor is also anticipating an increase in sales over the spring
months and the additional data will aid in formulating reliable
projections.

Creditor Wal-Mart Stores, Inc. Global Shared Services is
represented by Jamie Blucher, Esq. -- jblucher@zkslawfirm.com,
jconcannon@zkslawfirm.com

Quick Change Artist, LLC  is also represented by Julianne R.
Frank,
Esq. -- fwbbnk@fwbpa.com, jrfbnk@gmail.com

Creditor Gulf Coast Bank & Trust Co is represented by Siobhan E
Grant, Esq. -- sepg@lgplaw.com, amm@lgplaw.com -- and Laudy Luna,
Esq. -- ll@lgplaw.com, de@lgplaw.com

Creditor Iris T. Accessories is represented by Barry P Gruher,
Esq.
-- bgruher@gjb-law.com, vlambdin@gjb-law.com; gjbecf@gjb-law.com;
cesser@gjblaw.com; chopkins@gjb-law.com  

Creditor Gulf Coast Bank & Trust Co is represented by David H Haft
-- dhaft@tobinreyes.com, eservice@tobinreyes.com;
dboentgen@tobinreyes.com

Creditor CORA USA, LLC is represented by Amy D. Harris, Esq. --
aharris.ecf@srbp.com, aharris@srbp.com

Creditor Palm Beach County Tax Collector is represented by Orfelia
M Mayor, Esq. -- omayor@ombankruptcy.com,
legalservices@pbctax.com;
carmen@ombankruptcy.com; cmbk@ombankruptcy.com;
omayor@ecf.inforuptcy.com   

Creditors Jan Art Development, LLC and George Janssen are
represented by David A Ray, Esq. -- dray@draypa.com,
draycmecf@gmail.com; sramirez.dar@gmail.com

Counsel to the Debtor:

     Malinda L. Hayes, Esq.
     MARKARIAN FRANK WHITE-BOYD & HAYES
     2925 PGA Blvd., Suite 204
     Palm Beach Gardens, FL  33410
     Tel: (561) 626-4700
     Fax: (561) 627-9479
     E-mail: malinda@businessmindedlawfirm.com
             mlhbnk@gmail.com

Quick Change Artist, LLC, based in Lake Park, Florida, filed a
Chapter 11 petition (Bankr. S.D. Fla. Case No. 15-25377) on August
26, 2015.  Hon. Paul G. Hyman, Jr. presides over the case.  In its
petition, the Debtor estimated $100,000 to $500,000 in assets and
$1 million to $10 million in liabilities.  The petition was signed
by Dominique Barteet, president.


RAILYARD COMPANY: Judge Delays Approval of WFD&A's Bid to Withdraw
------------------------------------------------------------------
A U.S. bankruptcy judge has said he will delay approval of William
F. Davis & Assoc. P.C.'s motion to withdraw as legal counsel of
Railyard Company LLC.

In a court order, Judge Robert Jacobvitz of the U.S. Bankruptcy
Court in New Mexico, said he will grant the request if the company
files a motion to hire a new counsel or if a Chapter 11 trustee is
appointed.   

Railyard Company wanted to terminate the services of the firm
because of "irreconcilable differences," according to court
filings.

                      About Railyard Company

Railyard Company, LLC, owns and developed two-story Market Station
that houses the REI sporting goods store and other tenants.  It
filed a Chapter 11 petition (Bankr. D. N.M. Case No. 15-12386) on
Sept. 4, 2015.  The petition was signed by Richard Jaramillo as
managing member.  The Debtor is represented by William F. Davis,
Esq., at William F. Davis & Associates, P.C., as counsel.

The Debtor's Chapter 11 petition says the Company has about $11.2
million in debts and $13.8 million in assets.


REALOGY HOLDINGS: Incurs $42 Million Net Loss in First Quarter
--------------------------------------------------------------
Realogy Holdings Corp. and Realogy Group LLC filed with the
Securities and Exchange Commission their quarterly report on Form
10-Q disclosing a net loss of $42 million on $1.13 billion of net
revenues for the three months ended March 31, 2016, compared to a
net loss of $32 million on $1.06 billion of net revenues for the
same period in 2015.

As of March 31, 2016, Realogy Holdings had $7.40 billion in total
assets, $5.04 billion in total liabilities and $2.35 billion in
total equity.

"During the quarter, we delivered solid revenue growth, and made
progress on our key priorities to enhance the efficiency of our
operations, strengthen our technology offerings and maximize the
profitability of our integrated business model," said Richard A.
Smith, Realogy's chairman, chief executive officer and president.
"The spring selling season is shaping up in line with industry
forecasts for sales volume, and we are encouraged by the level of
demand we are seeing in this inventory-constrained market.  We are
confident that our differentiated technology platform, and the
continued investments we are making to enhance our value
proposition, position us well to capitalize on an improving housing
market."

For the second quarter of 2016, Realogy expects to achieve homesale
transaction volume gains in the range of 3% to 7% year-over-year.
Based on the Company's closed and open sales activity in April and
the first several days of May, Realogy expects second quarter
homesale transaction sides to be up 3% to 5% year-over-year and
average homesale price to be flat to up 2% on a company-wide basis.
Realogy's guidance is in line with industry forecasts that expect
an average of 5% transaction volume growth for the second quarter.
In the current market environment, the Company is on track to
continue to generate significant free cash flow for full year
2016.

"We continue to make significant progress toward our strategic
financial objectives -- optimizing our cost structure, executing
our share repurchase program and delevering the balance sheet,
which is the strongest it has been since we went public," said
Anthony E. Hull, executive vice president, chief financial officer
and treasurer.

The Company ended the quarter with cash and cash equivalents of
$283 million.  Total long-term corporate debt, including the
short-term portion, net of cash and cash equivalents, totaled $3.5
billion at March 31, 2016.  The ratio of total corporate debt, net
of cash and cash equivalents, to Adjusted (Covenant) EBITDA for the
12 months ended March 31, 2016 was 4.1 times.  On May 2, 2016, the
Company used a combination of cash on hand and borrowings under its
revolving credit facility to retire the $500 million of 3.375%
Senior Notes that matured at that time.

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

                        http://is.gd/cFCFpu

                   About Realogy Holdings Corp.

Realogy Holdings Corp. (NYSE: RLGY) is a global leader in
residential real estate franchising with company-owned real estate
brokerage operations doing business under its franchise systems as
well as relocation and title services.  Realogy's brands and
business units include Better Homes and Gardens(R) Real Estate,
CENTURY 21(R), Coldwell Banker(R), Coldwell Banker Commercial(R),
The Corcoran Group(R), ERA(R), Sotheby's International Realty(R),
NRT LLC, Cartus and Title Resource Group.  Collectively, Realogy's
franchise system members operate approximately 13,500 offices with
251,000 independent sales associates doing business in 104
countries around the world. Realogy is headquartered in Madison,
N.J.

Realogy Holdings reported net income attributable to the Company of
$143 million on $5.32 billion of net revenues for the year ended
Dec. 31, 2014, compared to net income attributable to the Company
of $438 million on $5.28 billion of net revenues during the prior
year.

                           *     *     *

In the Aug. 1, 2013, edition of the TCR, Moody's Investors Service
upgraded the corporate family rating of Realogy Group to to B2
from B3.  The upgrade to B2 CFR is driven by expectations for
ongoing strong financial performance, supported by Realogy's
recently-concluded debt and equity financing activities and a
continuing recovery in the US existing home sale market.

As reported by the TCR on Feb. 18, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on Realogy Corp. to
'B+' from 'B'.

"The one notch upgrade in the corporate credit rating to 'B+'
reflects an increase in our expectation for operating performance
at Realogy in 2013, and S&P's expectation that total lease
adjusted debt to EBITDA will improve to the low-6x area and funds
from operations (FFO) to total adjusted debt will be improve to
the high-single-digits percentage area in 2013, mostly due to
EBITDA growth in the low- to mid-teens percentage area in 2013,"
S&P said.


REALOGY HOLDINGS: Stockholders Elect 6 Directors
------------------------------------------------
At the annual meeting of stockholders of Realogy Holdings Corp.
held on May 4, 2016, the stockholders:

   (a) elected Raul Alvarez, Marc E. Becker, Ann Hailey,
       Duncan L. Niederauer, Richard A. Smith and Michael J.
       Williams as directors;

   (b) approved, on an advisory basis, the compensation of the
       named executive officers;

   (c) ratified the appointment of PricewaterhouseCoopers LLP to
       serve as the Realogy Holdings' independent registered
       accounting firm for fiscal year 2016; and

   (d) approved the Amended and Restated 2012 Long-Term Incentive
       Plan.

                   About Realogy Holdings Corp.

Realogy Holdings Corp. (NYSE: RLGY) is a global leader in
residential real estate franchising with company-owned real estate
brokerage operations doing business under its franchise systems as
well as relocation and title services.  Realogy's brands and
business units include Better Homes and Gardens(R) Real Estate,
CENTURY 21(R), Coldwell Banker(R), Coldwell Banker Commercial(R),
The Corcoran Group(R), ERA(R), Sotheby's International Realty(R),
NRT LLC, Cartus and Title Resource Group.  Collectively, Realogy's
franchise system members operate approximately 13,500 offices with
251,000 independent sales associates doing business in 104
countries around the world. Realogy is headquartered in Madison,
N.J.

Realogy Holdings reported net income attributable to the Company of
$143 million on $5.32 billion of net revenues for the year ended
Dec. 31, 2014, compared to net income attributable to the Company
of $438 million on $5.28 billion of net revenues during the prior
year.

As of March 31, 2016, Realogy Holdings had $7.40 billion in total
assets, $5.04 billion in total liabilities and $2.35 billion in
total equity.

                           *     *     *

In the Aug. 1, 2013, edition of the TCR, Moody's Investors Service
upgraded the corporate family rating of Realogy Group to to B2
from B3.  The upgrade to B2 CFR is driven by expectations for
ongoing strong financial performance, supported by Realogy's
recently-concluded debt and equity financing activities and a
continuing recovery in the US existing home sale market.

As reported by the TCR on Feb. 18, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on Realogy Corp. to
'B+' from 'B'.

"The one notch upgrade in the corporate credit rating to 'B+'
reflects an increase in our expectation for operating performance
at Realogy in 2013, and S&P's expectation that total lease
adjusted debt to EBITDA will improve to the low-6x area and funds
from operations (FFO) to total adjusted debt will be improve to
the high-single-digits percentage area in 2013, mostly due to
EBITDA growth in the low- to mid-teens percentage area in 2013,"
S&P said.


RELATIVITY FASHION: Admin. Claims Bar Date Set for May 29
---------------------------------------------------------
Relativity Fashion LLC's Fourth Amended Plan of Reorganization was
declared effective April 14, 2016.  The Plan was confirmed on
February 8, 2016, by the United States Bankruptcy Court for the
Southern District of New York.

Accordingly, requests for payment of Administrative Claims (other
than Fee Claims, and Administrative Claims based on Liabilities
incurred by a Debtor in the ordinary course of its business as
described in Section II.A.1.c of the Plan) must be Filed and served
on the Reorganized Debtors no later than May 29, 2016, which is 45
days after the Effective Date.  Objections to those requests, if
any, must be Filed and served on the Reorganized Debtors and the
requesting party no later than July 13, 2016, or 90 days after the
Effective Date.

Professionals or other Entities asserting a Fee Claim for services
rendered before the Effective Date must File and serve on the
Reorganized Debtors and such other Entities who are designated by
the Bankruptcy Rules, the Fee Order or other order of the
Bankruptcy Court an application for final allowance of such Fee
Claim no later than June 13, 2016, or 60 days after the Effective
Date.

Any Proofs of Claim asserting Claims arising from the rejection of
the Debtors' Executory Contracts and Unexpired Leases pursuant to
the Plan or otherwise must be filed with the Notice and Claims
Agent within 30 days after the later of (a) April 14, which is the
filing of the Notice, or (b) to the extent the rejection relates to
a contract that is subject to a pending objection as of the date of
entry of the Confirmation Order, the entry of an order of the
Bankruptcy Court confirming that rejection. All Allowed Claims
arising from the rejection of the Debtors' Executory Contracts and
Unexpired Leases shall constitute General Unsecured Claims and
shall be treated in accordance with Section II.C.10 of the Plan.

The Debtors are represented by:

     SHEPPARD MULLIN RICHTER & HAMPTON LLP
     Craig A. Wolfe, Esq.
     Malani J. Cademartori, Esq.
     30 Rockefeller Plaza
     New York, New York 10112
     Tel: (212) 653-8700
     Fax: (212) 653-8701
     E-mail: cwolfe@sheppardmullin.com
             mcademartori@sheppardmullin.com

          - and -

     JONES DAY
     Richard L. Wynne, Esq.
     Bennett L. Spiegel, Esq.
     Lori Sinanyan, Esq.
     Monika S. Wiener, Esq.
     222 East 41st Street
     New York, NY 10017
     Tel: (212) 326-3939
     Fax: (212) 755-7306
     E-mail: rlwynne@jonesday.com
             blspiegel@jonesday.com
             lsinanyan@jonesday.com
             mwiener@jonesday.com

                     About Relativity Fashion

Relativity -- http://relativitymedia.com/-- is a next-generation  
global media company engaged in multiple aspects of content
production and distribution, including movies, television, sports,
digital and music.  More than just a collection of
entertainment-related businesses, Relativity is a content engine
with the ability to leverage each of these business units,
independently and together, to create content across all mediums,
giving consumers what they want, when they want it.

Relativity Studios, the Company's largest division, has produced,
distributed or structured financing for more than 200 motion
pictures, generating more than $17 billion in worldwide box-office
revenue and earning 60 Oscar nominations.  Relativity's films
include Oculus, Safe Haven, Act of Valor, Immortals, Limitless,
and The Fighter.

Relativity Media LLC and its affiliates, including Relativity
Fashion, LLC, sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D.N.Y. Case No. 15-11989) on July 30, 2015.  The
case is assigned to Judge Michael E. Wiles.

The Debtors are represented by Craig A. Wolfe, Esq., Malani J.
Cademartori, Esq., and Blanka K. Wolfe, Esq., at Sheppard Mullin
Richter & Hampton LLP, in New York; and Richard L. Wynne, Esq.,
Bennett L. Spiegel, Esq., and Lori Sinanyan, Esq., at Jones Day,
in New York.

Brian Kushner of FTI Consulting, Inc., serves as chief
restructuring officer and crisis and turnaround manager.  Luke
Schaeffer of FTI Consulting, Inc., serves as deputy CRO.

Blackstone Advisory Partners L.P. serves as the Debtors'
investment banker.  The team is led by Timothy Coleman, Senior
Managing Director, CJ Brown, Senior Managing Director, Paul
Sheaffer, Vice President, and Joseph Goldschmid, Associate.

The Debtors' noticing and claims agent is Donlin, Recano &
Company, Inc.

                          *     *     *

An investor group composed of Anchorage Capital Group, L.L.C.,
Falcon Investment Advisors, LLC and Luxor Capital Group, LP on
Oct. 21, 2015, completed its purchase of the assets of Relativity
Television.

After selling their TV business, the Debtors and CEO Ryan C.
Kavanaughfiled a proposed plan of reorganization that will allow
the Debtors to reorganize their non-TV business units with a
substantially de-levered balance sheet utilizing new equity
investments and new financing.  

Jim Cantelupe, of Summit Trail Advisors, LLC, assisted the Debtors
in raising up to $100 million of new equity to fund the Plan.

The Bankruptcy Court on Feb. 8, 2016 confirmed the Debtors' Fourth
Amended Plan.  A copy of the Fourth Amended Plan is available at
http://is.gd/wZI1gd


ROVI CORP: S&P Puts 'B+' CCR on Watch Pos. on Pending TiVo Deal
---------------------------------------------------------------
S&P Global Ratings said that it placed its ratings on Rovi Corp.,
including the 'B+' corporate credit rating, on CreditWatch with
positive implications.

"The CreditWatch placement is based on Rovi's announcement that it
will acquire TiVo Inc. (unrated) for approximately $1.1 billion,"
said S&P Global Ratings credit analyst Elton Cerda. Rovi will pay
about 25% of the consideration in cash and the remainder with
company shares.  The acquisition will broaden Rovi's business
lines, improve the combined company's technology in content
guidance and discovery, and decrease Rovi's adjusted debt leverage.


S&P will resolve the CreditWatch placement after the acquisition is
completed and following its discussions with management on
business' outlook and financial policy.  At this point, S&P
believes that the potential upgrade will likely be limited to
one-notch (to 'BB-').


SANTA CRUZ BERRY: Admin Claimants Oppose Settlement with Creditors
------------------------------------------------------------------
Administrative Claimants Robert Stephens, Julie Packard and Nancy
Burnett oppose the Motion filed by Debtors Santa Cruz Berry Farming
Company, LLC, and Corralitos Farms, LLC, seeking for the Court's
approval of a Global Settlement with Tom Lange Company, Inc. and
Tom Lange Company International, California Coastal Rural
Development Corporation and Del Mar Food Products Corp.

The Administrative Claimants complain that all throughout the
course of these jointly administered cases, the lien priority
disputes between Tom Lange and Cal Coastal have predominated, using
the bankruptcy process for the purpose of litigating their lien
priority disputes and liquidating their collateral. While
Administrative Claimants have been led to believe that the
Corralitos estate has sufficient assets to pay all allowed
administrative claims, however the Motion lacks transparency
regarding how the settlement will have an impact of administrative
and unsecured creditors other than the parties to the settlement
themselves. Thus Administrative Claimants strongly object to the
dilution of the Corralitos estate to fund distributions to holders
of claims against Santa Cruz. Accordingly, the Administrative
Claimants tell the Court to address and determine whether or not
substantive consolidation of the Corralitos and Santa Cruz estates
is warranted.

California Coastal Rural Development Corporation in joining the
Debtors' Motion, informs the Court and all interested parties of an
exception to the "release and discharge," as evidenced by the
express terms of the Settlement Agreement and Releases that "the
foregoing releases do not extend to any individual liability
existing under separate obligations or guaranties owed to Cal
Coastal, Del Mar or TL Parties by Robert Fritz Koontz, Andrew D.
Koontz, and Rodney S. Koontz [which] are hereby preserved,
irrespective of any relationship with Debtors."

The Debtor, Tom Lange Company, Inc. and Tom Lange Company
International, Inc. responded to the Administrative Claimants'
opposition stating that the Debtors' assets remain separate and are
subject to separate liens -- the Settlement specifically
contemplates and provides the pending release by Cal Coastal of any
alter ego claims or efforts to seek "substantive consolidation or
anything else that could impact either Estate, in a collective
sense."

Moreover, the Parties explains that although the SCBF estate is
already administratively insolvent the Corralitos estate is not,
and accordingly, being administrative claimants in both cases, the
Administrative Claimants will be paid in full whereas the secured
creditors will receive nothing from the assets held by the
Corralitos estate.  Additionally, in the absence of the Agreement,
protracted litigation involving the Parties to the Agreement will
undoubtedly render the Corralitos estate administratively
insolvent. Therefore, the Agreement is in the best interests of the
administrative and unsecured creditors, as it averts litigation
that would otherwise render both estates administratively
insolvent.  

Santa Cruz Berry Farming Company, LLC, is represented by:

       Thomas A. Vogele, Esq.
       THOMAS VOGELE & ASSOCIATES, APC
       3199 Airport Loop Drive, Suite A3
       Costa Mesa, California 92626
       Telephone: 714-641-1232
       Facsimile: 888-391-4105
       Email: tvogele@tvalaw.com

California Coastal Rural Development Corporation is represented
by:

       Effie F. Anastassiou, Esq.
       Stephen J. Beals, Esq.
       ANASTASSIOU& ASSOCIATES
       242 Capitol Street
       Post Office Box 2210
       Salinas, California  93902
       Telephone:  (831) 754-2501
       Facsimile:   (831) 754-0621

Counsel for Creditors Julie Packard, Nancy Burnett, and Robert
Stephens

       Cecily A. Dumas, Esq.
       Brian R. Hayag, Esq.
       PILLSBURY WINTHROP SHAW PITTMAN LLP
       Four Embarcadero Center, 22nd Floor
       Post Office Box 2824
       San Francisco, CA  94126-2824
       Telephone: (415) 983-1000
       Facsimile No.: (415) 983-1200
       Email: cecily.dumas@pillsburylaw.com
              brian.hayag@pillsburylaw.com

Tom Lange Company, Inc. and Tom Lange Company International, Inc.

       William S. Brody, Esq.
       BUCHALTER NEMER
       A Professional Corporation
       1000 Wilshire Boulevard, Suite 1500
       Los Angeles, CA  90017
       Telephone: (213) 891-0700
       Facsimile: (213) 896-0400
       Email:  wbrody@buchalter.com

       -- and --

       Joseph M. Welch, Esq.
       BUCHALTER NEMER
       A Professional Corporation
       18400 Von Karman Avenue, Suite 800
       Irvine, CA  92612-0514
       Telephone: (949) 760-1121
       Facsimile: (949) 720-0182
       Email:  jwelch@buchalter.com

            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: Court Approves Settlement with Creditors
----------------------------------------------------------
Hon. M. Elaine Hammond of the U.S. Bankruptcy Court for the
Northern District of California, San Jose Division, approved the
Global Settlement Agreement among the Debtors Santa Cruz Berry
Farming Company, LLC, and Corralitos Farms, LLC, their Estates, Tom
Lange Company, Inc., and Tom Lange Company International, Inc.,
California Coastal Rural Development Corporation, and Del Mar Food
Products Corp.

Hon. Hammond also authorized and ordered the Debtors to comply with
and perform all obligations set forth in the Settlement Agreement
and to take all actions in furtherance thereof, and the TL Parties,
Cal Coastal, Del Mar and Debtors are each authorized and permitted
to enforce all rights and remedies provided, permitted, or
acknowledged in the Settlement Agreement and to take all actions
consistent therewith -- any stay or injunction with respect to
enforcement or the effectiveness of the Order is waived.

Pursuant to the Settlement Agreement, the following general
unsecured claims are allowed in the SCBF Case and against the SCBF
Estate:

   (a) TLC - $2,366,023,
   (b) TLCI - $1,000,000,
   (c) Cal Coastal - $1,218,195, and
   (d) Del Mar - $259,502.

In addition, the following general unsecured claims are allowed in
the Corralitos Case and against the Corralitos Estate:

   (a) TLC - $2,366,023, and
   (b) Cal Coastal - $1,218,195.

Likewise, as set forth in the Settlement Agreement, the following
motions and matters pending before the Court are resolved pursuant
to the Settlement and are deemed withdrawn and orders vacated: (a)
Chapter 11 Debtor-In-Possession Santa Cruz Berry Farming Company,
LLC’s Objection to Claim No. 9 filed By Cal Coastal, and (b)
Order Setting Continued Hearing and Establishing Cutoff Date Re
Proof of Claim Objection, as amended or continued.

          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.


SAUCIER BROS.: Case Summary & 20 Largest Unsecured Creditors
------------------------------------------------------------
Debtor: Saucier Bros. Roofing, Inc.
        200 Lameuse St.
        Biloxi, MS 39530

Case No.: 16-50775

Chapter 11 Petition Date: May 5, 2016

Court: United States Bankruptcy Court
       Southern District of Mississippi
      (Gulfport-6 Divisional Office)

Judge: Hon. Katharine M. Samson

Debtor's Counsel: Patrick A. Sheehan, Esq.
                  SHEEHAN LAW FIRM
                  429 Porter Avenue
                  Ocean Springs, MS 39564-3715
                  Tel: 228-875-0572
                  Fax: 228-875-0895
                  E-mail: pat@sheehanlawfirm.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Clement B. Saucier, III, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/mssb16-50775.pdf


SCIENTIFIC GAMES: Reports 2016 First Quarter Results
----------------------------------------------------
Scientific Games Corporation reported a net loss of $92.3 million
on $682 million of total revenue for the three months ended March
31, 2016, compared to a net loss of $86.4 million on $659 million
of total revenue for the same period in 2015.

As of March 31, 2016, Scientific Games had $7.69 billion in total
assets, $9.27 billion in total liabilities and a $1.58 billion
total stockholders' deficit.

During the quarter ended March 31, 2016, the Company made net
payments of $27.5 million on its debt, including $15 million of
voluntary repayments under its revolving credit facility and $11
million in mandatory amortization of its term loans.  The Company
remains committed to prioritizing debt repayments from cash flow.

Capital expenditures totaled $51.2 million.  For 2016, the Company
continues to expect that capital expenditures will be within a
range of $290 million to $310 million, based on existing
contractual obligations and planned investments, including capital
costs to facilitate remaining integration initiatives.

"Our focus on strategic priorities - product excellence, profitable
growth, and strengthening cash flow - is taking hold, as we have
generated positive growth for the past two consecutive quarters.
We are building momentum and delivering improved business results,
clear evidence of the strength of our comprehensive product
portfolio.  As we move forward, we are committed to continuous
improvement to unlock the power of our brands, leverage our
unrivaled innovation and serve our customers to provide meaningful,
long-term shareholder value," said Gavin Isaacs, President and CEO
of Scientific Games.

Michael Quartieri, Scientific Games' executive vice president and
CFO, added, "Across our global operations, our focus is on fiscal
discipline, seeking further process improvements and operating
efficiencies, as we continue to prudently invest to sustain our
leadership in innovation.  By driving profitable growth and
increased conversion of AEBITDA into cash flow, we expect to remain
on a path to further deleverage in 2016 and beyond."

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

                      http://is.gd/EW0m7m

                     About Scientific Games

Scientific Games Corporation is a developer of technology-based
products and services and associated content for worldwide gaming
and lottery markets.  The Company's portfolio includes instant and
draw-based lottery games; electronic gaming machines and game
content; server-based lottery and gaming systems; sports betting
technology; loyalty and rewards programs; and social, mobile and
interactive content and services.  Visit
http://www.scientificgames.com/        

Scientific Games reported a net loss of $1.39 billion on $2.75
billion of total revenue for the year ended Dec. 31, 2015, compared
to a net loss of $234 million on $1.78 billion of total revenue for
the year ended Dec. 31, 2014.

                           *     *     *

The TCR reported on May 21, 2014, that Moody's Investors Service
downgraded Scientific Games Corporation's ("SGC") Corporate Family
Rating to 'B1'.  The downgrade reflects Moody's view that slower
than expected growth in SGC's Gaming and Instant Products segments
will cause Moody's adjusted leverage to exceed 6.0 times by the
end of 2014.

As reported by the TCR on Aug. 5, 2014, Standard & Poor's Ratings
Services lowered its corporate credit rating to 'B+' from 'BB-' on
Scientific Games Corp.

"The downgrade and CreditWatch placement follow Scientific Games'
announcement that it has agreed to acquire Bally Technologies for
$5.1 billion, including the refinancing of about $1.8 billion in
net debt at Bally," said Standard & Poor's credit analyst Ariel
Silverberg.


SEQUENOM INC: Incurs $13.4 Million Net Loss in First Quarter
------------------------------------------------------------
Sequenom, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $13.4
million on $27.6 million of total revenues for the three months
ended March 31, 2016, compared to net income of $14.3 million on
$37.8 million of total revenues for the same period in 2015.

As of March 31, 2016, Sequenom had $105 million in total assets,
$155 million in total liabilities and a total stockholders' deficit
of $49.9 million.

"During the quarter, we executed on a number of key initiatives
designed to return Sequenom to sustainable growth, resulting in
quarter over quarter growth in our unit volume," said Dirk van den
Boom, Ph.D., president and CEO of Sequenom.  "Overall, we made
meaningful progress toward achieving our goal of becoming
financially self-sustaining while solidifying our position as a
leader in reproductive health."

As of March 31, 2016, cash, cash equivalents, and marketable
securities totaled $66.1 million.

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

                     http://is.gd/9srhTa

                        About Sequenom

Sequenom, Inc. (NASDAQ: SQNM) -- http://www.sequenom.com/-- is a
life sciences company committed to improving healthcare through
revolutionary genetic analysis solutions.  Sequenom develops
innovative technology, products and diagnostic tests that target
and serve discovery and clinical research, and molecular
diagnostics markets.  The company was founded in 1994 and is
headquartered in San Diego, California.

Sequenom reported a net loss of $16.3 million on $128 million of
total revenues for the year ended Dec. 31, 2015, compared to net
income of $1.01 million on $152 million of total revenues for the
year ended Dec. 31, 2014.


SHEEHAN PIPE LINE: U.S. Trustee Forms 4-Member Committee
--------------------------------------------------------
The U.S. trustee for Region 20 appointed four creditors of Sheehan
Pipe Line Construction Company to serve on the official committee
of unsecured creditors.

The committee members are:

     (1) Ohio-West Virginia Excavating Co.
         56461 Ferry Landing Rd.
         Shadyside, OH 43947

         Representative: Roger Lewis, President
         (740) 676-7464
         (740) 676-4410 FAX
         rlewis@owvexcavating.com

         Representative: W. Eric Gadd, Esq.
         P. O. Box 831
         Wheeling, WV 26003
         (304) 230-6950
         (304) 230-6951 FAX egad@spilmanlaw.com

     (2) Cleveland Brothers Equipment Co., Inc.
         4565 Williams Penn Highway
         Murrysville, PA 15668

         Representative: David D. Hough
         Director of Credit & Finance
         (724) 325-9394
         (724) 325-9299 FAX
         dhough@clevelandbrothers.com

         Representative: Henry Jaffe, Esq.
         1313 N. Market St., Ste. 5100
         Wilmington, DE 19899
         (302) 777-6575
         (302) 397-2712 FAX
         jaffeh@pepperlaw.com

         Representative: Andrew Turner, Esq.
         4000 One Williams Center
         Tulsa, OK 74172
         (918) 586-8972
         (918) 586-8672 FAX aturner@cwlawfirm.com

     (3) Central States, Southeast & Southwest
         Areas Pension Fund
         9377 W. Higgins Rd.
         Rosemont, IL 60018

         Brandon A. Buyers
         (847) 939-2464
         (847) 518-9797
         bbuyers@centralstates.org

     (4) Cecil I. Walker Machinery Co.
         P. O. Box 2427
         Charleston, WV 25329

         Representative: Sheliah Lowe
         (304) 949-6400
         (304) 949-6400
         slowe@walker-cat.com

         Suzanne Jett Trowbridge, Esq.
         300 Summers St., Ste. 1500
         P. O. Box 2107
         Charleston, WV 25328-2107

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense. They may investigate the debtor's business and financial
affairs. Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                     About Sheehan Pipe Line

Sheehan Pipe Line Construction Company, a contractor that
constructs pipelines in various states across the country, filed a
voluntary petition for relief under Chapter 11 of the U.S.
Bankruptcy Code (Case No. 16-10678) on April 15, 2016, listing
total assets of $90.2 million and total debt of $68.4 million.  The
petition was signed by Robert A. Riess, Sr., as president and CEO.
McDonald, McCann & Metcalf & Carwile, LLP, serves as counsel to the
Debtor.  The case is pending before Judge Terrence L. Michael.


SKAGIT RIVER: 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 Skagit River Resort, LLC.

Skagit River Resort, LLC sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Western
District of Washington (Seattle) (Case No. 16-11632) on March 28,
2016.

The petition was signed by Don Clark, manager. The Debtor is
represented by Marc S. Stern, Esq.

The Debtor disclosed total assets of $2.22 million and total debts
of $894,828.


SOUTHCROSS ENERGY: Issues 8 Million Common Units to Holdings
------------------------------------------------------------
As previously disclosed in the Form 8-K filed with the Securities
and Exchange Commission on March 22, 2016, Southcross Energy
Partners, L.P. and Southcross Holdings LP entered into that certain
Equity Cure Contribution Agreement, dated March 17, 2016, whereby
the Partnership has the right to cure any default with respect to
the financial covenants set forth in its Third Amended and Restated
Revolving Credit Agreement by having Holdings purchase equity
interests in the Partnership in an aggregate amount of up to $50
million.  On March 30, 2016, the Partnership received $11.9 million
from Holdings, pursuant to the terms of the Equity Cure Agreement,
to fund the remaining balance of the equity cure required to comply
with the consolidated total leverage ratio of its Financial
Covenants.

In exchange for the Contribution Amount, on May 2, 2016, the
Partnership issued Holdings 8,029,729 common units representing
limited partner interests in the Partnership.  The Common Units
were issued at a price per share equal to $1.48, which was the
lesser of (i) the volume weighted daily average price of the Common
Units on the New York Stock Exchange for a period of 15 trading
days, the last of which being the second trading day prior to the
Contribution Date or (ii) $1.48.

A copy of the Form 8-K filing is available for free at:

                       http://is.gd/3VW8rX

              About Southcross Energy Partners, L.P.

Southcross Energy Partners, L.P. is a master limited partnership
that provides natural gas gathering, processing, treating,
compression and transportation services and NGL fractionation and
transportation services.  It also sources, purchases, transports
and sells natural gas and NGLs.  Its assets are located in South
Texas, Mississippi and Alabama and include four gas processing
plants, two fractionation plants and approximately 3,100 miles of
pipeline.  The South Texas assets are located in or near the Eagle
Ford shale region. Southcross is headquartered in Dallas, Texas.
Visit www.southcrossenergy.com for more information.

Southcross Energy reported a net loss attributable to partners of
$51.4 million on $698 million of total revenues for the year ended
Dec. 31, 2015, compared to a net loss attributable to partners of
$36.7 million on $849 million of total revenues for the year ended
Dec. 31, 2014.  As of Dec. 31, 2015, Southcross Energy had $1.31
billion in total assets, $698 million in total liabilities and $621
million in total partners' capital.

                             *   *    *

As reported by the TCR on April 5, 2016, Standard & Poor's Ratings
Services said it lowered its corporate credit and senior secured
rating on Southcross Energy Partners L.P. to 'CCC+' from 'B-'.

The TCR reported on Jan. 13, 2016, that Moody's Investors Service
downgraded Southcross Energy Partners, LP's Corporate Family Rating
to Caa1 from B2.  "Southcross' Caa1 CFR reflects its high financial
leverage, limited scale, concentration in the Eagle Ford Shale and
our expectation of continued high leverage and challenging industry
conditions into 2017," according to the report.


SPENDSMART NETWORKS: Appoints PayPal Executive as Director
----------------------------------------------------------
SpendSmart Networks, Inc., dba "SMS Masterminds," announced that it
plans to deepen its operational and mobile commerce expertise with
the appointment of fintech industry veteran Frank Liddy to its
Board of Directors.

Mr. Liddy is currently head of strategic partnerships at Paydiant,
recently acquired by PayPal, where he empowers banks, retailers and
strategic partners to achieve their growth objectives by creating
great consumer experiences on Paydiant's open platform for mobile
commerce.

Mr. Liddy has more than twenty years of experience as an operator,
advisor and investor in the fintech community.  Mr. Liddy joined
Paydiant from the consultancy firm Capco (now part of FIS Global)
and previously held key leadership positions at Citigroup, KPMG
Consulting and Unisys.

Mr. Liddy is an active speaker at fintech industry conferences, a
contributor to the Federal Reserve Bank's Mobile Payment Industry
Workgroup and has been quoted in leading publications such as The
Wall Street Journal, Newsweek, American Banker, PaymentsSource and
Bank Systems and Technology.

Luke Wallace, SpendSmart's CEO said, "With Frank joining our Board,
we are deepening our mobile commerce, operational and financial
services industry expertise.  Frank's experience will serve as an
invaluable asset to our Company and its future strategies."

In connection with Mr. Liddy's appointment to the Board, the
Company agreed to grant Mr. Liddy vested options to purchase
264,000 shares of the Company's common stock at an exercise price
of $0.11 per share, the market closing price on the day of
appointment, and having a term of five years.

                   About SpendSmart Networks

SpendSmart Networks provides proprietary loyalty systems and a
suite of digital engagement and marketing services that help local
merchants build relationships with consumers and drive revenue.
These services are implemented and supported by a vast network of
certified digital marketing specialists, aka "Certified
Masterminds," who drive revenue and consumer relationships for
merchants via loyalty programs, mobile marketing and website
development.  Consumers' dollars go further when they spend it with
merchants in the SpendSmart network of merchants, as they receive
exclusive deals, earn rewards and ultimately build a connection
with their favorite merchants.

Spendsmart Networks reported a net loss of $11.9 million on $5.58
million of total revenues for the year ended Dec. 31, 2015,
compared to a net loss of $12.2 million on $4.03 million of total
revenues for the year ended Dec. 31, 2014.  As of Dec. 31, 2015,
Spendsmart Networks had $3.58 million in total assets, $5.30
million in total liabilities and a total stockholders' deficit of
$1.71 million.

EisnerAmper LLP, in Iselin, New Jersey, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has recurring losses
and has yet to establish a profitable operation and at December 31,
2015 has negative working capital and stockholders' deficit.  These
factors among others raise substantial doubt about its ability to
continue as a going concern.


SPORTS AUTHORITY: Seeks Approval of Key Employee Retention Plan
---------------------------------------------------------------
The Sports Authority, Inc., and its affiliated debtors ask the U.S.
Bankruptcy Court for the District of Delaware to approve their Key
Employee Retention Program ("KERP").

The Debtors contend that The Sports Authority Key Employee
Retention Program is designed to provide retention payments to
certain key, non-insider employees of the Debtors in order to
increase the likelihood that the proceeds received by the Debtors
through the sale or liquidation of their assets are maximized, as
well as preserved, during the Debtors' Chapter 11 cases.

The KERP contains, among others, these relevant terms:

     (a) Participation: At this time, the Debtors have limited
participation in the KERP to certain critical non-insider
employees.  However, the Debtors reserve the right, in their
reasonable business judgment, to select additional non-insider KERP
Participants upon notice to the U.S. Trustee, the Debtors'
prepetition and post-petition secured lenders, and the Committee.
The KERP Participants represent a cross-section of various
functions of the Debtors, including accounting, finance, human
resources, information technology, legal, operations and
sourcing/planning.

     (b) Cost: The aggregate cost of the KERP will be no greater
than $1,250,000.

     (c) Retention Bonus: The Retention Bonus paid to each KERP
Participant will be a lump sum amount, with those KERP Participants
who are the most critical and irreplaceable eligible for the
largest Retention Bonuses.

     (d) Retention Bonus Schedule: Each KERP Participant's
Retention Bonus will be paid upon the latest to occur of (i) 75
days following the Court's approval of a sale of substantially all
of the Debtors' assets, and/or, a liquidation process, or (ii) if
applicable, confirmation of a chapter 11 plan.

     (e) Termination Provisions: Any KERP Participant that
voluntarily resigns, or is terminated for cause, prior to payment
of a Retention Bonus, will forfeit his or her Retention Bonus. The
Debtors reserve the right, in their reasonable business judgment,
to make forfeited payments available to other employees or
reallocate forfeited payments among the other eligible KERP
Participants, upon notice to the U.S. Trustee, the Debtors'
prepetition and post-petition secured lenders, and the Committee.

The Sports Authority, Inc., and its affiliated debtors are
represented by:

          Michael R. Nestor, Esq.
          Kenneth J. Enos, Esq.
          Andrew L. Magaziner, Esq.
          YOUNG CONAWAY STARGATT & TAYLOR, LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Telephone: (302)571-6600
          Facsimile: (302)571-1253
          E-mail: mnestor@ycst.com
                  kenos@ycst.com
                  amagaziner@ycst.com

               - and -

          Robert A. Klyman, Esq.
          Matthew J. Williams, Esq.
          Jeremy L. Graves, Esq.
          Sabina Jacobs, Esq.
          GIBSON, DUNN & CRUTCHER LLP
          333 South Grand Avenue
          Los Angeles, CA 90071-1512
          Telephone: (213)229-7000
          Facsimile: (213)229-7520
          E-mail: rklyman@gibsondunn.com
                  mjwilliams@gibsondunn.com
                  jgraves@gibsondunn.com
                  sjacobs@gibsondunn.com

                 About Sports Authority Holdings

Sports Authority Holdings, et al., are sporting goods retailers
with roots dating back to 1928.  The Debtors currently operate 464
stores and five distribution centers across 40 U.S. states and
Puerto Rico.  The Debtors offer a broad selection of goods from a
wide array of household and specialty brands, including Adidas,
Asics, Brooks, Columbia, FitBit, Hanesbrands, Icon Health and
Fitness, Nike, The North Face, and Under Armour, in addition to
their own private label brands.  The Debtors employ 13,000 people.

Sports Authority and six of its affiliates filed Chapter 11
bankruptcy petitions (Bankr. D. Del. Case Nos. 16-10527 to
16-10533) on March 2, 2016.  The petitions were signed by Michael
E. Foss as chairman & chief executive officer.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Young Conaway Stargatt & Taylor, LLP as co-counsel,
Rothschild Inc. as investment banker, FTI Consulting, Inc., as
financial advisor and Kurtzman Carson Consultants LLC as notice,
claims, solicitation, balloting and tabulation agent.  Lawyers at
Pachulski Stang Ziehl & Jones LLP represent the Official Committee
of Unsecured Creditors.


STANFORD INT'L: July 8 Hearing to Approve $24M Kroll Deal
---------------------------------------------------------
Ralph S. Janvey, the Receiver for R. Allen Stanford and his related
entities, and the Official Stanford Investors Committee on March 7,
2016, filed a Motion seeking approval from the U.S. District Court
for the Northern District of Texas of a settlement entered into
with Kroll, LLC (f/k/a Kroll, Inc.) and Kroll Associates, Inc.
Pursuant to the terms of the settlement, the Receivership Estate
will receive $24.0 million.  On March 23, 2016, the Court entered a
Scheduling Order setting a hearing on the Motion to Approve the
Settlement and establishing a scheduling for the submission of
objections.

The Court has set a hearing on the Motion to Approve the Settlement
for July 8, 2016 at 10:00 am. Any party wishing to file an
objection to the settlement must do so no later than May 18, 2016,
and must do so in accordance with the requirements established by
the Court in its Scheduling Order.

Judge David C. Godbey presides over the case, SECURITIES AND
EXCHANGE COMMISSION, Plaintiff, v. STANFORD INTERNATIONAL BANK,
LTD., STANFORD GROUP COMPANY, STANFORD CAPITAL MANAGEMENT, LLC, R.
ALLEN STANFORD, JAMES M. DAVIS, and LAURA PENDERGEST-HOLT,
Defendants, and STANFORD FINANCIAL GROUP, and THE STANFORD
FINANCIAL GROUP BLDG INC., Relief Defendants, Case 3:09-cv-00298
(N.D. Tex.).

The SEC's amended complaint, filed in February 2009, alleges that
for at least a decade, R. Allen Stanford and James M. Davis,
through companies they control, including Stanford International
Bank, Ltd. and its affiliated Houston-based investment advisers,
Stanford Group Company and Stanford Capital Management, executed a
massive Ponzi scheme.  Stanford and Davis misappropriated billions
of dollars of investor funds and falsified SIB's financial
statements in an effort to conceal their fraudulent conduct.  Laura
Pendergest-Holt, the chief investment officer of Stanford Financial
Group and a member of SIB's investment committee, facilitated the
fraudulent scheme by misrepresenting to investors that she managed
SIB's multi-billion investment portfolio of assets and employed a
sizeable team of analysts to monitor the portfolio.

Stanford and Davis, by February 2009, had misappropriated at least
$1.6 billion of investor money through bogus personal loans to
Stanford and "invested" an undetermined amount of investor funds in
speculative, unprofitable private businesses controlled by
Stanford.  In an effort to conceal their fraudulent conduct and
maintain the flow of investor money into SIB's coffers, Stanford
and Davis fabricated the performance of the bank's investment
portfolio.

Additional information on the case is available at
http://stanfordfinancialreceivership.com/


STAR COMPUTER: Wants Court to Set Administrative Claims Bar Date
----------------------------------------------------------------
Star Computer Group, Inc., asks the U.S. Bankruptcy Court for the
Southern District of Florida, Miami Division, to set an
administrative claims bar date.

The Debtor contends that in order to confirm its Plan, it must make
provision for the payment of all allowed administrative expenses of
the estate.  It further contends that none of the Bankruptcy Rules
expressly set a deadline for the filing of administrative expense
claims.  The Debtor avers that the Court's standard order setting a
confirmation hearing will set a deadline for filing of fee
applications of professionals seeking compensation and
reimbursement under 11 U.S.C. Section 503(b)(2).  The Debtor
further avers that the standard order, however, does not set a
deadline for the filing of non-professional administrative expense
claims.

The Debtor requests that the Court enter an order setting an
Administrative Claims Bar Date for the assertion of all
Administrative Claims against the Debtor for the date that is
fourteen days prior to the date first scheduled for the
Confirmation Hearing, assuming such a date is set.

Star Computer Group, Inc., is represented by:

          Corali Lopez-Castro, Esq.
          David L. Rosendorf, Esq.
          Vincent F. Alexander, Esq.
          Mindy Y. Kubs, Esq.
          KOZYAK TROPIN & THROCKMORTON, LLP
          2525 Ponce de Leon Blvd., 9th Floor
          Miami, FL 33134
          Telephone: (305)372-1800
          Facsimile: (305)372-3508
          E-mail: clc@kttlaw.com
                  dlr@kttlaw.com
                  vfa@kttlaw.com
                  myk@kttlaw.com

                    About Star Computer Group

Star Computer Group, Inc., sought Chapter 11 bankruptcy protection
(Bankr. S.D. Fla. Case No. 15-28100) on Oct. 12, 2015.  The
petition was signed by James S. Howard as chief restructuring
officer.

The Debtor listed assets of $22.7 million and liabilities of $68.3
million.

Founded in 1994 with its office located at 2175 N.W. 115 Avenue,
Miami, FL 33172, the Company was engaged in the business of
supplying wholesale computers, smart phones, and related equipment
and software to dealers and wholesales in Latin America.  The
Company is jointly owned by Henry Waissmann (54%) and Henry Aguilar
(46%).

The Debtor has engaged Kozyak, Tropin & Throckmorton, P.A., as
bankruptcy counsel, GlassRatner as financial advisor, Fuerst
Ittleman David & Joseph PL as special tax counsel, and Cherry
Bekaert, LLP as accountants.

Judge Jay Cristol is assigned to the case.

The U.S. Trustee for Region 21, appointed five creditors to serve
in the official committee of unsecured creditors.  The Committee
is
represented by Stearns Weaver Miller Weissler Alhadeff &
Sitterson,
P.A., as counsel.


STONE ENERGY: Incurs $189 Million Net Loss in First Quarter
-----------------------------------------------------------
Stone Energy Corporation filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $189 million on $80.7 million of total operating revenue for the
three months ended March 31, 2016, compared to a net loss of $327
million on $153 million of total operating revenue for the same
period in 2015.

As of March 31, 2016, Stone Energy had $1.64 billion in total
assets, $1.87 billion in total liabilities and a total
stockholders' deficit of $225 million.

Chairman, President and Chief Executive Officer David Welch stated,
"Late in the first quarter of 2016, we drew down on our credit
facility to provide near term financial flexibility to continue to
execute operationally as we explore various options to strengthen
our balance sheet.  During the first quarter, the Cardona #7 well
came online at a gross initial production rate of approximately
5,000 Boe per day, which brought the Cardona four well total gross
production rate to approximately 20,000 Boe per day.  We brought
the Amethyst well online in late December of 2015, and it averaged
approximately 24 MMcfe per day for the quarter, although the well
was shut-in in late April to address suspected blockage around the
perforated section.  Intervention actions are being reviewed,
including an acid operation.  We farmed out the ENSCO 8503 in early
February through mid-April, which reduced our capital spending for
the quarter. We are working towards an agreement on a second farm
out arrangement that is expected to commence prior to May 15, and
continue discussions with other potential farm out and farm in
partners.  Importantly, our deep water volumes have increased, yet
we have managed to decrease our operating expenses and reduce our
overhead costs.  Finally, we continue to work with our advisors who
are assisting us in reviewing various financial, transactional and
strategic alternatives."

                      Liquidity Update   

On March 10, 2016, Stone drew $385 million under its bank credit
facility, which represented substantially all of the remaining
undrawn amount that was available under its bank credit facility.
After the March 10, 2016 withdrawal, the aggregate principal amount
of borrowings under the bank credit facility was $477 million plus
approximately $19.2 million of outstanding letters of credit.

On April 13, 2016, Stone was notified that the borrowing base under
its bank credit facility was redetermined and lowered from $500
million to $300 million.  As of April 13, 2016, Stone had
outstanding borrowings of $457 million and letters of credit of
$18.3 million under its bank credit facility, resulting in a
borrowing base deficiency of $175 million.  Stone had cash on hand
of approximately $360 million as of April 13, 2016.  The credit
agreement provides that within 30 days after the agent delivers
written notice to Stone of a borrowing base deficiency, Stone must
elect to do one or more of the following: (a) repay the loan to
eliminate the deficiency within 10 days, (b) add additional
collateral to eliminate the deficiency within 30 days, or (c) pay
the deficiency in six equal monthly installments to eliminate the
deficiency within six months.  We have not taken any action or made
an election of actions to be taken to cure the borrowing base
deficiency.

As of March 31, 2016, the current portion of long-term debt of $459
million consisted of $284 million of 2017 Convertible Notes, $175
million of outstanding borrowings under the bank credit facility
(our borrowing base deficiency) and $0.4 million of principal
payments due within one year on the Building Loan.

As of March 31, 2016, and May 4, 2016, Stone had cash on hand of
approximately $367 million and $350 million, respectively.

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

                     http://is.gd/E2ThMO

                     About Stone Energy

Stone Energy is an independent oil and natural gas company engaged
in the acquisition, exploration, exploitation, development and
operation of oil and gas properties.  The Company has been
operating in the Gulf of Mexico Basin since its incorporation in
1993 and have established a technical and operational expertise in
this area.  The Company has leveraged its experience in the GOM
conventional shelf and expanded its reserve base into the more
prolific basins of the GOM deep water, Gulf Coast deep gas and the
Marcellus and Utica shales in Appalachia.  As of Dec. 31, 2015, the
Company's estimated proved oil and natural gas reserves were
approximately 57 MMBoe or 342 Bcfe.  During 2015, approximately 95
MMBoe or 570 Bcfe of the Company's estimated proved reserves were
revised downward as a result of lower oil, natural gas and natural
gas liquids prices.

Stone Energy reported a net loss of $1.1 billion in 2015 following
a net loss of $189.54 million in 2014.

                         *   *    *

In March 2016, Standard & Poor's lowered its corporate credit
rating on U.S.-based oil and gas exploration and production company
Stone Energy to 'CCC-' from 'CCC+'.

Stone Energy carries a 'B3' Corporate Family Rating from Moody's
Investors Service.


STONE ENERGY: Posts $189M Net Loss in First Quarter 2016
--------------------------------------------------------
Stone Energy Corporation on May 4 announced financial and
operational results for the first quarter of 2016.  Some of the
highlights include:

   -- Production volumes exceeded the upper end of first quarter of
2016 guidance

   -- The four Cardona wells are currently producing gross volumes
of approximately 20,000 Boe per day
      (65% working interest)

   -- Amethyst production averaged approximately 24 MMcfe per day
(100% working interest) for the
      first quarter of 2016

   -- A short term farm out agreement for the ENSCO 8503 deep water
rig was executed

   -- The Mary field in Appalachia remained shut-in for the first
quarter of 2016

   -- Lease operating expenses decreased to $19.5 million in the
first quarter of 2016

Cash balance at the end of the first quarter of 2016 was $367
million

Chairman, President and Chief Executive Officer David Welch stated,
"Late in the first quarter of 2016, we drew down on our credit
facility to provide near term financial flexibility to continue to
execute operationally as we explore various options to strengthen
our balance sheet.  During the first quarter, the Cardona #7 well
came online at a gross initial production rate of approximately
5,000 Boe per day, which brought the Cardona four well total gross
production rate to approximately 20,000 Boe per day.  We brought
the Amethyst well online in late December of 2015, and it averaged
approximately 24 MMcfe per day for the quarter, although the well
was shut-in in late April to address suspected blockage around the
perforated section.  Intervention actions are being reviewed,
including an acid operation.  We farmed out the ENSCO 8503 in early
February through mid-April, which reduced our capital spending for
the quarter.  We are working towards an agreement on a second farm
out arrangement that is expected to commence prior to May 15, and
continue discussions with other potential farm out and farm in
partners.  Importantly, our deep water volumes have increased, yet
we have managed to decrease our operating expenses and reduce our
overhead costs.  Finally, we continue to work with our advisors who
are assisting us in reviewing various financial, transactional and
strategic alternatives."

Financial Results

Stone had a first quarter of 2016 adjusted net loss of $44.1
million, or $0.79 per share, before impairment charges of $129.2
million.  After impairment charges, the reported net loss was
$188.8 million, or $3.39 per share, on oil and gas revenue of $80.2
million, compared to a net loss of $327.4 million, or $5.93 per
share, on oil and gas revenue of $148.2 million in the first
quarter of 2015.  Discretionary cash flow totaled $28.1 million
during the first quarter of 2016, as compared to $85.4 million
during the first quarter of 2015.

Net daily production during the first quarter of 2016 averaged 34.5
thousand barrels of oil equivalent (MBoe) per day (207 million
cubic feet of gas equivalent (MMcfe) per day), compared with net
daily production of 46.3 MBoe (278 MMcfe) per day in the first
quarter of 2015.  First quarter of 2016 production mix was 52% oil,
12% natural gas liquids (NGLs) and 36% natural gas.  Production
guidance for the second quarter of 2016 is estimated at 28-30 Mboe
per day, or 168-180 MMcfe per day.  The expected production decline
from the first quarter of 2016 is primarily due to reduced volumes
from Amethyst and natural declines.  This guidance assumes a
continued shut in of the Mary field.  Additionally, the Company's
full year production guidance has been reduced to account for the
Amethyst volume reduction and the suspension of the remaining
Pompano platform rig program due to capital constraints.  Our
updated production guidance for 2016 is 26 - 28 MBoe (156-168
MMcfe) per day.

Prices realized during the first quarter of 2016 averaged $36.87
per barrel of oil, $13.01 per barrel of NGLs and $2.22 per Mcf of
natural gas.  Average realized prices for the first quarter of 2015
were $66.28 per barrel of oil, $18.11 per barrel of NGLs and $2.54
per Mcf of natural gas.  Effective hedging transactions increased
the average realized price of natural gas by $0.52 per Mcf and
increased the average realized price of oil by $5.65 per barrel in
the first quarter of 2016.  Effective hedging transactions
increased the average realized price of natural gas by $0.25 per
Mcf and increased the average realized price of oil by $20.97 per
barrel in the first quarter of 2015.

Lease operating expenses during the first quarter of 2016 totaled
$19.5 million ($6.23 per Boe or $1.04 per Mcfe), compared to $27.6
million ($6.62 per Boe or $1.10 per Mcfe) in the first quarter of
2015.  The decrease in first quarter of 2016 lease operating
expenses is primarily attributable to cost reduction efforts and
lower major maintenance expense.  Lease operating expenses are
expected to increase in subsequent quarters due to maintenance
operations to be performed throughout the remainder of the year
that are typically scheduled during more favorable weather
conditions.

Other operational expenses during the first quarter of 2016 totaled
$12.5 million, compared to $0.1 million, in the first quarter of
2015.  The increase is primarily due to two items.  First, Stone
recognized a one-time, non-cash charge of approximately $6.0
million related to foreign currency losses accumulated by its
Canadian subsidiary, Stone Energy Canada ULC, which was
substantially dissolved during the quarter.  Second, there was
approximately $6.1 million of rig subsidy and stacking charges
associated with the ENSCO 8503 deep water rig farm out and the
Saxon Appalachian rig.  We expect other operational expenses to
remain significantly higher in 2016 compared to 2015 due to these
farm out subsidies and rig stacking charges.

Transportation, processing and gathering (TP&G) expenses during the
first quarter of 2016 totaled $0.8 million ($0.27 per Boe or $0.04
per Mcfe), compared to $17.7 million ($4.25 per Boe or $0.71 per
Mcfe) during the first quarter of 2015.  In addition to the shut-in
at the Mary field in Appalachia, the significant decrease was
attributable to the recoupment of previously paid transportation
costs allocable to the federal government's portion of certain of
the Company's deep water production, which amounted to
approximately $4 million.  Stone had incurred these costs on a
monthly basis over several years but all were recognized in the
first quarter of 2016.  This reduction is considered a one-time
occurrence as the Company expects it will recognize these cost
reductions on a monthly basis going forward, and TP&G expense
guidance has been updated as appropriate.  Also, if production were
to resume in its Mary field, TP&G expenses would be expected to
increase materially.

Depreciation, depletion and amortization (DD&A) on oil and gas
properties for the first quarter of 2016 totaled $60.4 million
($19.25 per Boe or $3.21 per Mcfe), compared to $85.2 million
($20.47 per Boe or $3.41 per Mcfe), in the first quarter of 2015.
The decrease is attributable to ceiling test write-downs incurred
in 2015.

Salaries, general and administrative (SG&A) expenses for the first
quarter of 2016 were $13.7 million ($4.37 per Boe or $0.73 per
Mcfe), compared to $17.0 million ($4.08 per Boe or $0.68 per Mcfe),
in the first quarter of 2015.  The decrease is due to staff and
other cost reductions.  The SG&A expenses in the first quarter of
2016 included approximately $1 million in professional fees
associated with our restructuring efforts as well as a lower
capitalized portion of SG&A.  Although base SG&A is expected to be
lower in 2016 compared to 2015, there will be a significant
increase in professional fees associated with the financial and
legal advisors hired to assist in analyzing and reviewing Stone's
financial, transactional and strategic alternatives, particularly
in the second quarter of 2016.

Accretion expense for the first quarter of 2016 was $10.0 million,
compared to $6.4 million in the first quarter of 2015.  The
increase is due to a higher applicable discount rate used to
calculate the present value of the asset retirement obligations
compared to prior years.  Stone expects accretion expense to remain
relatively flat at this level for each subsequent quarter in 2016.

Interest expense for the first quarter of 2016 was $15.2 million,
compared to $10.4 million in the first quarter of 2015.  The
increase in interest expense was due to a lower interest
capitalization on our unevaluated properties as well as an increase
in borrowed funds.  Stone expects interest expense to be higher in
the second quarter of 2016 with the bank credit facility
significantly drawn.

Capital expenditures for the first quarter of 2016 were
approximately $80.7 million, which includes $3.1 million of
plugging and abandonment expenditures.  This includes the drilling
and completion operations at the Cardona #7 well (65% working
interest) and the beginning of the Pompano platform drilling
program, which included workover operations on the A-30 well and
the drilling of the Silverthrone well, the first well of the
program.  Additionally, $5.8 million of SG&A expenses and $7.4
million of interest were capitalized during the first quarter of
2016.  This compared to first quarter of 2015 capital expenditures
of approximately $113.8 million, which included $17.1 million of
plugging and abandonment expenditures.  Additionally, $8.5 million
of SG&A expenses and $10.8 million of interest were capitalized
during the first quarter of 2015.

Stone's Board of Directors authorized an initial 2016 capital
expenditure budget of $200 million, which did not include rig
subsidies or rig stacking expenses, projected to be approximately
$40-$50 million and is included as part of "Other operational
expenses" in our statement of operations.  The budget was primarily
focused on the Pompano platform rig development program and the
utilization of the ENSCO 8503 deep water rig for a development well
and one or two exploration wells.

However, to further reduce capital expenditures for 2016, Stone has
elected to suspend the Pompano drilling program after the
completion of the Silverthrone well, which is expected to be
completed in early May of 2016.  The suspension of the Pompano
program is expected to reduce the capital expenditure budget
estimate by approximately $20 million to $30 million.
Additionally, if Stone has not secured partners for the Lamprey,
Derbio or Rampart exploration wells, operations of the ENSCO 8503
deep water drilling rig are expected to be suspended in the third
quarter of 2016, following the completion of the second farm out.  


This updated rig schedule and other cost reduction efforts have
decreased Stone's projected annual capital expenditures, which are
now expected to be less than the $200 million Board authorized
budget.  The budget includes minimal activity in the Appalachian
basin, satisfying regulatory abandonment commitments and
contractual seismic and leasehold commitments.  The budget excludes
acquisitions and capitalized SG&A and interest.

On March 21, 2016, the Company received notice letters from the
Bureau of Ocean Energy Management ("BOEM") stating that BOEM had
determined that we no longer qualified for a supplemental bonding
waiver under the financial criteria specified in BOEM's current
guidance to lessees.  In late March 2016, it proposed a tailored
plan to BOEM for financial assurances relating to our abandonment
obligations, which remains subject to approval by BOEM.  Its
proposed tailored plan provides for posting some incremental
financial assurances in favor of BOEM, and discussions on the
approval and implementation of this plan are ongoing.

Liquidity Update   

On March 10, 2016, Stone drew $385 million under its bank credit
facility, which represented substantially all of the remaining
undrawn amount that was available under its bank credit facility.
After the March 10, 2016 withdrawal, the aggregate principal amount
of borrowings under the bank credit facility was $477 million plus
approximately $19.2 million of outstanding letters of credit.

On April 13, 2016, Stone was notified that the borrowing base under
its bank credit facility was redetermined and lowered from $500
million to $300 million.  As of April 13, 2016, Stone had
outstanding borrowings of $457 million and letters of credit of
$18.3 million under its bank credit facility, resulting in a
borrowing base deficiency of $175.3 million.  Stone had cash on
hand of approximately $360 million as of April 13, 2016.  The
credit agreement provides that within 30 days after the agent
delivers written notice to Stone of a borrowing base deficiency,
Stone must elect to do one or more of the following: (a) repay the
loan to eliminate the deficiency within 10 days, (b) add additional
collateral to eliminate the deficiency within 30 days, or (c) pay
the deficiency in six equal monthly installments to eliminate the
deficiency within six months.  It has not taken any action or made
an election of actions to be taken to cure the borrowing base
deficiency.

As of March 31, 2016, the current portion of long-term debt of
$459.2 million consisted of $283.5 million of 2017 Convertible
Notes, $175.3 million of outstanding borrowings under the bank
credit facility (our borrowing base deficiency) and $0.4 million of
principal payments due within one year on the Building Loan.

As of March 31, 2016 and May 4, 2016, Stone had cash on hand of
approximately $367 million and $350 million, respectively.

Although the Company was in compliance with its bank credit
facility financial covenants at the end of the first quarter of
2016, it projects that it will be out of compliance at the end of
the second quarter of 2016.  The Company is in discussion with our
banks regarding its borrowing base deficiency and the potential
compliance issue.

On March 10, 2016, Stone announced it had retained Lazard as its
financial advisor and Latham & Watkins LLP as its legal advisor to
assist Stone in analyzing and considering financial, transactional
and strategic alternatives.  "We are actively reviewing various
financing, asset sales and debt restructuring alternatives to
address the March 1, 2017 maturity of the 2017 Convertible Notes
and are currently engaged in ongoing negotiations with financial
advisors for the noteholders of the 2017 Convertible Notes and 2022
Notes regarding restructuring the notes.  We have an interest
payment obligation under our 2022 Notes totaling approximately $29
million, due on May 16, 2016.  The indenture governing the 2022
Notes provides a 30-day grace period, extending the date for making
the cash interest payment to June 14, 2016.  Although we have
sufficient liquidity to make the interest payment by the due date,
we may utilize the 30-day grace period provided for by the
indenture to allow additional time to assess our restructuring
alternatives," the Company said.

"We continue to work with our financial and legal advisors to
identify certain contractual obligations whereby an opportunity
exists for potential relief."

In support of Stone's announcement of the retention of
professionals to assist in analyzing and considering financial,
transactional and strategic alternatives, the Independent Directors
of Stone's Board of Directors named current board member David T.
Lawrence as a Special Liaison of the Independent Directors to work
together with the management of Stone to help with assessing
strategic alternatives and restructuring alternatives.

Operational Update   

Deep Water Drilling Contract (Gulf of Mexico). In mid-February of
2016, Stone reached an agreement with an experienced Gulf of Mexico
deep water operator to farm out and utilize the ENSCO 8503 deep
water rig for a period that ended in mid-April of 2016.  The
agreement carried some associated subsidy expenses and commenced
after Stone had finished operations at the Cardona #7 well.  Stone
is also working towards an agreement on a second farm out for
another 70 to 90 days with another experienced Gulf of Mexico
operator that is expected to commence no later than May 15, 2016,
following a brief utilization of the rig for preparation work ahead
of drilling the Lamprey exploration prospect.  Additionally, Stone
is also reviewing other farm out opportunities as well as farm in
opportunities whereby Stone would utilize the ENSCO 8503 rig as the
operator with a relatively small working interest in the project.

Mississippi Canyon 29 – Cardona Field (Deep Water).  The fourth
and final well in the Cardona project, the Cardona #7, came online
in late March of 2016, with initial gross production of
approximately 5,000 Boe per day.  Currently, gross production
volumes from the Cardona field are approximately 20,000 Boe per
day.  Stone holds a 65% working interest in the field and is the
operator.

Mississippi Canyon 26 - Amethyst (Deep Water).  The Amethyst
prospect came online in late December of 2015 and averaged
approximately 24 MMcfe per day for the first quarter of 2016.
Production from the well gradually declined during the month of
April until the well was shut in late April to allow for a
technical evaluation.  After reviewing pressure and volume data,
Stone suspects there is blockage in the perforated section of the
well and is determining best intervention options, including
performing an acid operation.  This acid operation is projected to
start in late June or early July. The well is a tie-back to Stone's
Pompano platform, located less than five miles from the discovery,
and Stone holds a 100% working interest.

Pompano Platform Drilling Program (Deep Water).  Stone performed
workover operations at the A-30 well in January of 2016, which has
been completed and is producing approximately 250 Boe per day.
Drilling commenced on the Silverthrone development prospect in
February and was completed in April, with production expected to
come online in May of 2016.  Stone has completed one of two zones
in the prospect, which is expected to come online at a gross
production rate of approximately 700 to 1,000 Boe per day.  After
the operations for the Silverthrone well are complete, the platform
rig is expected to be temporarily stacked in place to preserve
liquidity while we review our financial, transactional and
strategic alternatives.  There are up to three additional
development wells to be drilled from the Pompano platform.  Each
additional development well is expected to provide production
volumes ranging from 1,000 to 2,000 Boe per day per well after
hook-up.  Stone holds a 100% working interest in these wells.

Alaminos Canyon 943 - Lamprey (Deep Water).  In the fourth quarter
of 2015, Petróleos Mexicanos ("Pemex") spud the Tiaras-1
exploration well, which is located approximately three miles
southwest of Stone's Lamprey exploration prospect in Alaminos
Canyon block 943 in the Gulf of Mexico.  Operations at Tiaras-1 are
complete and the rig has demobilized.  In mid-April of 2016, Stone
set surface casing on the Lamprey prospect, prior to the
commencement of a second farm out of the ENSCO 8503 rig, which is
expected in mid-May.  It is estimated that the initial Lamprey well
would take two to three months to drill and, if successful, Stone
may drill a follow-up appraisal well.  Discussions with potential
partners regarding the 100% owned Lamprey prospect are ongoing,
with a reduction to Stone's working interest expected before fully
drilling the well.

Mississippi Canyon 72 - Derbio (Deep Water).  The Derbio prospect
is located five miles from Stone's Pompano platform and targets the
Miocene interval.  If successful, a tie-back to the Pompano
platform is likely.  Stone currently holds a 100% working interest
in the prospect, although a reduction to its working interest is
expected before drilling would commence.  The well is estimated to
take three months to drill.

Mississippi Canyon 117 - Rampart (Deep Water).  The Rampart
exploration well targets the Miocene interval and is expected to be
a tie-back to the Pompano platform if successful.  Stone currently
holds a 100% working interest in the prospect and is expected to
reduce its working interest before drilling would commence.  The
prospect is located nine miles from Stone's Pompano platform, and
the well is estimated to take three months to drill.

Appalachia Basin (Production and Drilling Update).   In Appalachia,
prior to shutting in on
September 1, 2015, production at the Mary field was averaging
approximately 130 MMcfe per day.  Production at Mary has remained
shut in and production from the Heather and Buddy fields averaged
approximately 23 MMcfe per day for the first quarter of 2016.  The
Mary field remains shut-in due to low prices of natural gas,
natural gas liquids and high midstream costs.  The contracted rig
for Appalachia remains stacked.  Activity for the remainder of 2016
is expected to be limited to maintaining core leasehold interests
and other maintenance operations.

New York Stock Exchange Notification

"On April 29, 2016, we were notified by the New York Stock Exchange
("NYSE") that the average closing price of our shares of common
stock had fallen below $1.00 per share over a period of 30
consecutive trading days, which is the minimum average share price
for continued listing on the NYSE under Rule 802.01C of the NYSE
Listed Company Manual.  Under the NYSE's rules, we have six months
following receipt of the notification to regain compliance with the
minimum share price requirement," the Company said.

Other Information

Stone Energy will not be hosting a conference call to discuss the
first quarter of 2016 operational and financial results.  Stone
Energy will hold its 2016 Annual Meeting of Stockholders on
Thursday, May 19, 2016, at 10:00 a.m. Central time at the Windsor
Court Hotel, 300 Gravier Street, New Orleans, Louisiana.  The close
of business on March 24, 2016 has been fixed as the record date for
determination of stockholders entitled to receive notification of
and to vote at the Annual Meeting.

                        About Stone Energy

Stone Energy is an independent oil and natural gas company engaged
in the acquisition, exploration, exploitation, development and
operation of oil and gas properties.  The Company has been
operating in the Gulf of Mexico Basin since its incorporation in
1993 and have established a technical and operational expertise in
this area.  The Company has leveraged its experience in the GOM
conventional shelf and expanded its reserve base into the more
prolific basins of the GOM deep water, Gulf Coast deep gas and the
Marcellus and Utica shales in Appalachia.  As of Dec. 31, 2015, the
Company's estimated proved oil and natural gas reserves were
approximately 57 MMBoe or 342 Bcfe.  During 2015, approximately 95
MMBoe or 570 Bcfe of the Company's estimated proved reserves were
revised downward as a result of lower oil, natural gas and natural
gas liquids prices.

Stone Energy reported a net loss of $1.1 billion in 2015 following
a net loss of $189.54 million in 2014.  As of Dec. 31, 2015, the
Company had $1.41 billion in total assets, $1.44 billion in total
liabilities, and a $39.8 million total stockholders' deficit.

                         *   *    *

In March 2016, Standard & Poor's lowered its corporate credit
rating on U.S.-based oil and gas exploration and production company
Stone Energy to 'CCC-' from 'CCC+'.

Stone Energy carries a 'B3' Corporate Family Rating from Moody's
Investors Service.


STRATA SKIN: Gets Noncompliance Notice from NASDAQ
--------------------------------------------------
STRATA Skin Sciences, Inc., received written notification from The
NASDAQ Stock Market that the closing bid price of its common stock
had been below the minimum $1.00 per share for the previous 30
consecutive business days, and that the Company is therefore not in
compliance with the requirements for continued listing on the
NASDAQ Capital Market under NASDAQ Listing Rule 5550(a)(2).  The
Notice provides the Company with an initial period of 180 calendar
days, or until Oct. 24, 2016, to regain compliance with the listing
rules.  The Company will regain compliance if the closing bid price
of its common stock is $1.00 per share or higher for a minimum
period of ten consecutive business days during this compliance
period, as confirmed by written notification from NASDAQ.

If the Company does not achieve compliance by Oct. 24, 2016, the
Company expects that NASDAQ would provide notice that its
securities are subject to delisting from the NASDAQ Capital
Market.

The Company said it will continue to monitor the closing bid price
for its common stock and to assess its options for maintaining the
listing of its common stock on the NASDAQ Capital Market in light
of this Notice.  The Company will consider all available options to
regain compliance with the minimum bid requirements, including an
application to NASDAQ for an extension of the compliance period or
an appeal to a Hearings Panel should its closing bid price not have
regained compliance during the compliance period.

                  About STRATA Skin Sciences

STRATA Skin Sciences (formerly MELA Sciences, Inc.) is a medical
technology company focused on the therapeutic and diagnostic
dermatology market.  Its products include the XTRAC laser and VTRAC
excimer lamp systems utilized in the treatment of psoriasis,
vitiligo and various other skin conditions; and the MelaFind system
used to assist in the identification and management of melanoma.

Strata Skin reported a net loss attributable to common stockholders
of $27.91 million on $18.49 million of revenues for the year ended
Dec. 31, 2015, compared to a net loss of $16.03 million on $915,000
of revenues for the year ended Dec. 31, 2014.

As of Dec. 31, 2015, Strata Skin had $51.37 million in total
assets, $35.28 million in total liabilities and $16.08 million in
total stockholders' equity.


SUTTON 58 OWNER: Schedules $181M in Assets, $142M in Debt
---------------------------------------------------------
Sutton 58 Owner LLC disclosed $181,303,107 in assets and
$141,480,967 in liabilities in its schedules of assets and
liabilities:

   Name of Schedule                   Assets       Liabilities
   ----------------                   ------       -----------
A. Real Property                $181,250,000
B. Personal Property                 $53,107           
C. Property Claimed as Exempt
D. Creditors Holding
   Secured Claims                                 $135,450,066
E. Creditors Holding Unsecured
   Priority Claims                                          $0
F. Creditors Holding Unsecured
   Non-priority Claims                              $6,030,900
                               --------------   --------------
TOTAL                            $181,303,107     $141,480,967

A copy of the company's schedules is available without charge at
http://is.gd/XyQ3j8

                      About Sutton 58 Owner

Sutton 58 Owner LLC sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Southern
District of New York (Manhattan) (Case No. 16-10834) on April 6,
2016.

The Debtor is represented by Joseph S. Maniscalco, Esq., and Jordan
C. Pilevsky, Esq., at Lamonica Herbst & Maniscalco, LLP. The case
is assigned to Judge Sean H. Lane.

The Debtor estimated both assets and liabilities in the range of
$100 million to $500 million.


TELEPRO CARIBE: Case Summary & 13 Unsecured Creditors
-----------------------------------------------------
Debtor: Telepro Caribe, Inc.
        PO Box 270397
        San Juan, PR 00928-3397

Case No.: 16-03648

Chapter 11 Petition Date: May 5, 2016

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Hon. Enrique S. Lamoutte Inclan

Debtor's Counsel: Nelson Robles Diaz, Esq.
                  NELSON ROBLES DIAZ LAW OFFICES, P.S.C.
                  P.O. Box 192302
                  San Juan, PR 00919-2302
                  Tel: (787) 721-7929
                  Fax: (787) 282-9100
                  E-mail: nroblesdiaz@gmail.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Jose R. Mora Nazario, CEO.

A list of the Debtor's 13 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb16-03648.pdf


TELKONET INC: Reports $120,000 Net Income for First Quarter
-----------------------------------------------------------
Telkonet, Inc. filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing net income of $120,122
on $4.62 million of total net revenues for the three months ended
March 31, 2016, compared to a net loss of $744,078 on $2.57 million
of total net revenues for the same period in 2015.

As of March 31, 2016, Telkonet had $11.42 million in total assets,
$5.40 million in total liabilities and $6.01 million in total
stockholders' equity.

"Our first quarter results demonstrate the success of our strategic
growth initiatives and continued investment in sales and marketing
activities," states Jason Tienor, Telkonet chief executive officer.
"Our continued innovation and technological leadership have
allowed us to develop a platform that is unique in our target
verticals.  We look forward to expanding on these results with the
release of several new innovations throughout 2016."

"While the first quarter is typically slow due to seasonality,
we've shown that a strategy of expanded vertical focus and focus on
channel driven sales has enabled us to reduce seasonality in our
business and dramatically impact topline EcoSmart revenues,"
continues Jason Tienor.  "Rapid growth across MDU, Education and
Hospitality continues to propel our performance moving forward and
our continued focus on development of the EcoSmart platform for
these markets has secured Telkonet's position as an IoT leader in
the space."

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

                       http://is.gd/uY3Rli

                         About Telkonet

Milwaukee, Wisconsin-based Telkonet, Inc., is a clean technology
company that develops and manufactures proprietary energy
efficiency and smart grid networking technology.

Telkonet reported a net loss attributable to common stockholders of
$207,357 on $15.08 million of total net revenues for the year ended
Dec. 31, 2015, compared to a net loss attributable to common
stockholders of $95,403 on $14.79 million of total net revenues for
the year ended Dec. 31, 2014.


THAD DEVIER HOLDING: Court Orders Alawamleh to Pay $4.2K Balance
----------------------------------------------------------------
Judge Jerry A. Brown of the United States Bankruptcy Court for the
Eastern District of Louisiana found that debtor Devier Design and
Build LLC has performed services in satisfaction of its obligations
under the two contracts with defendant Hasan Alawemleh, and payment
is due under the terms of the contract. Accordingly, Alawamleh is
obligated to pay the balance of the $4,250 to the debtor. The court
further found that no attorney's fees were due as this was really a
contract dispute, and as such the debtor was not entitled to
attorney's fees. The contract itself contains no attorney's fee
provisions.

A full-text copy of the Memorandum Opinion dated April 14, 2016 is
available at http://is.gd/CFLr2Tfrom Leagle.com.

The adversary case is DEVIER DESIGN BUILD, LLC, Plaintiff, v. HASAN
ALAWAMLEH, Defendant, Adv. P. No. 15-1017 (Bankr. E.D. La.), in
relation to bankruptcy case IN RE: DEVIER DESIGN BUILD, LLC,
SECTION "B", Chapter 11, Debtor, Case No. 14-11231.

Devier Design Build, LLC, Plaintiff, is represented by Wayne J.
Jablonowski, Esq.

Hasan Alawamleh, Defendant, represented by Donald L. Hyatt, II,
Esq. -- hyattlaw@aol.com -- Donald L. Hyatt, II APLC.


THERAPEUTICSMD INC: Announces First Quarter 2016 Financial Results
------------------------------------------------------------------
TherapeuticsMD, Inc., reported a net loss of $20.9 million on $4.93
million of net revenues for the three months ended March 31, 2016,
compared to a net loss of $20.9 million on $4.47 million of net
revenues for the same period in 2015.

As of March 31, 2016, TherapeuticsMD had $193 million in total
assets, $9.59 million in total liabilities and $183 million in
total stockholders' equity.

"During the first quarter, we successfully executed on our goals
across the company," said TherapeuticsMD CEO Robert G. Finizio. "We
presented detailed phase 3 data from the Rejoice Trial at multiple
conferences, and we are preparing to file our NDA for TX-004HR, the
first of our two novel pipeline candidates in development to treat
symptoms of menopause.  We also expect topline data late in the
fourth quarter of 2016 from our Replenish Trial for TX-001HR.  We
remain optimistic about the potential of our pipeline products and
intend to leverage them, along with our current commercial
infrastructure, to establish a leadership position in women's
health."

At March 31, 2016, cash on hand was approximately $182.1 million,
compared with approximately $64.7 million at Dec. 31, 2015.

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

                      http://is.gd/a6leqU

                     About TherapeuticsMD

Boca Raton, Florida-based TherapeuticsMD, Inc. (OTC QB: TXMD) is a
women's healthcare product company focused on creating and
commercializing products targeted exclusively for women.  The
Company currently manufactures and distributes branded and generic
prescription prenatal vitamins as well as over-the-counter
vitamins and cosmetics.  The Company is currently focused on
conducting the clinical trials necessary for regulatory approval
and commercialization of advanced hormone therapy pharmaceutical
products designed to alleviate the symptoms of and reduce the
health risks resulting from menopause-related hormone
deficiencies.

For the year ended Dec. 31, 2015, the Company reported a net loss
of $85.07 million on $20.1 million of net revenues compared to a
net loss of $54.2 million on $15.0 million of net revenues for the
year ended Dec. 31, 2014.


THERAPEUTICSMD INC: Incurs $20.9 Million Net Loss in Q1
-------------------------------------------------------
TherapeuticsMD, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $20.9 million on $4.93 million of net revenues for the three
months ended March 31, 2016, compared to a net loss of $20.9
million on $4.47 million of net revenues for the same period in
2015.

As of March 31, 2016, TherapeuticsMD had $192.96 million in total
assets, $9.59 million in total liabilities and $183 million in
total stockholders' equity.

The Company has funded its operations primarily through public
offerings of its Common Stock and private placements of equity and
debt securities.  For the three months ended March 31, 2016, and
the year ended Dec. 31, 2015, the Company received approximately
$134.9 million and $91.4 million in net proceeds, respectively,
from the issuance of shares of its Common Stock.  

"As of March 31, 2016, we had cash and cash equivalents totaling
approximately $182.1 million, however, changing circumstances may
cause us to consume funds significantly faster than we currently
anticipate, and we may need to spend more money than currently
expected because of circumstances beyond our control."

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

                      http://is.gd/xp8m7D

                     About TherapeuticsMD

Boca Raton, Florida-based TherapeuticsMD, Inc. (OTC QB: TXMD) is a
women's healthcare product company focused on creating and
commercializing products targeted exclusively for women.  The
Company currently manufactures and distributes branded and generic
prescription prenatal vitamins as well as over-the-counter
vitamins and cosmetics.  The Company is currently focused on
conducting the clinical trials necessary for regulatory approval
and commercialization of advanced hormone therapy pharmaceutical
products designed to alleviate the symptoms of and reduce the
health risks resulting from menopause-related hormone
deficiencies.

For the year ended Dec. 31, 2015, the Company reported a net loss
of $85.07 million on $20.1 million of net revenues compared to a
net loss of $54.2 million on $15.0 million of net revenues for the
year ended Dec. 31, 2014.


TMOV INC: U.S. Trustee Forms 3-Member Committee
-----------------------------------------------
The Office of the U.S. Trustee appointed three creditors of TMOV,
Inc., to serve on the official committee of unsecured creditors.

The committee members are:

     (1) Fosham Shunde Xiumumitam Textile
         Shunde Lunjiao Integate Industrial Park
         Xinghua Zhony Road
         Phone: 0757-25519211
         Fax: 0757-88504017

         Representative: Thomas Business Law Group P.C.
         Stephen J. Thomas/Counsel
         17800 Castleton Street, Suite 657
         City of Industry, CA 91748
         Phone: (626) 771-1005
         Fax: (626) 628-1905
         Email: sjt@corporatefirm.com
   
     (2) Zhejiang Sanyuan Holding Group Co. Ltd.
         Attn: Qian Jing/Vice General Manager
         No. 1888 Jianghui Road
         Hangzhoum, China
         Phone: +86-571-83783578
         Fax: +86-571-83691333
         Email: QJ@SAN-YUAN.CN

     (3) Zhuolang Garment Co. Ltd.
         Attn: Kuang Ren feng/Manager
         No 9M Xinhua Industrial Zone
         Junnan Road, Junan Town, Shunde
         Foshan City, Guang Dong China Area
         Phone: +86-757-25502781
         Fax: +86-757-25502780
         Email: yaodongmei999@126.com

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense. They may investigate the debtor's business and financial
affairs. Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                         About TMOV Inc.

TMOV, Inc. sought protection under Chapter 11 of the Bankruptcy
Code in the Central District of California (Los Angeles) (Case No.
16-13649) on March 22, 2016.  The petition was signed by Kimmy
Song, president.

The Debtor is represented by Raymond H. Aver, Esq., at Law Offices
of Raymond H. Aver APC. The case is assigned to Judge Sandra R.
Klein.

The Debtor estimated assets of $50,000 to $100,000 and debts of $10
million to $50 million.


TOWN SPORTS: Files Form S-8 Prospectus with SEC
-----------------------------------------------
Town Sports International Holdings, Inc. filed with the Securities
and Exchange Commission a Form S-8 registration statement to
register (i) 300,000 shares of its common stock, par value $0.001
per share, issued to Gregory Bartoli pursuant to the terms of the
Restricted Stock Agreement, dated Aug. 19, 2015, between the
Company and the Selling Stockholder and (ii) 450,000 shares of
Common Stock  issuable upon the exercise of stock options granted
to Mr. Bartoli under the Non-Qualified Stock Option Agreement,
dated Aug. 19, 2015, between the Company and Mr. Bartoli.  A copy
of the prospectus is available at http://is.gd/SZegsI

                       About Town Sports

About Town Sports International Holdings, Inc.:
New York-based Town Sports International Holdings, Inc. is one of
the leading owners and operators of fitness clubs in the Northeast
and mid-Atlantic regions of the United States and, through its
subsidiaries, operated 151 fitness clubs as of March 31, 2016,
comprising 104 New York Sports Clubs, 27 Boston Sports Clubs, 12
Washington Sports Clubs (one of which is partly-owned), five
Philadelphia Sports Clubs, and three clubs located in Switzerland,
and three BFX Studio locations.  In addition, the Company also has
one partly-owned club that operated under a different brand name in
Washington, D.C. as of March 31, 2016.  These clubs collectively
served approximately 553,000 members as of March 31, 2016.  For
more information on TSI, including the Company's Form 10-Q for the
quarterly period ended March 31, 2016, visit
http://investor.mysportsclubs.com.

As of March 31, 2016, Town Sports had $300.45 million in total
assets, $403.25 million in total liabilities and a total
stockholders' deficit of $102.79 million.

                            *   *    *

As reported by the TCR on March 14, 2016, Standard & Poor's Ratings
Services said it raised its corporate credit rating on New York
City-based Town Sports International Holdings Inc. to 'CCC+' from
'SD'.

Town Sports carries a Caa2 corporate family rating from Moody's
Investors Service.


TOWN SPORTS: Incurs $6.92 Million Net Loss in First Quarter
-----------------------------------------------------------
Town Sports International Holdings, Inc. filed with the Securities
and Exchange Commission its quarterly report on Form 10-Q
disclosing a net loss of $6.92 million on $101 million of revenues
for the three months ended March 31, 2016, compared to a net loss
of $12.8 million on $111 million of revenues for the same period in
2015.

As of March 31, 2016, Town Sports had $300 million in total assets,
$403 million in total liabilities and a total stockholders' deficit
of $103 million.

As of March 31, 2016, the Company had $87.8 million of cash and
cash equivalents.  

Patrick Walsh, executive chairman of TSI, commented: "We continue
to strengthen the Company's balance sheet.  Since current
management took over, we have engaged in transactions to retire
$100.9 million of debt for $40.7 million, or 40% of face value.
Management remains focused on restoring Town Sports International
to profitability by concentrating on our existing clubs and member
base.  Through calculated strategic actions we have made progress
on this front and reported improved year over year results.  We
will continue to refine our promotional activity and marketing
spend in order to improve our sales productivity."

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

                      http://is.gd/umVZu7

                       About Town Sports

About Town Sports International Holdings, Inc.:
New York-based Town Sports International Holdings, Inc. is one of
the leading owners and operators of fitness clubs in the Northeast
and mid-Atlantic regions of the United States and, through its
subsidiaries, operated 151 fitness clubs as of March 31, 2016,
comprising 104 New York Sports Clubs, 27 Boston Sports Clubs, 12
Washington Sports Clubs (one of which is partly-owned), five
Philadelphia Sports Clubs, and three clubs located in Switzerland,
and three BFX Studio locations.  In addition, the Company also has
one partly-owned club that operated under a different brand name in
Washington, D.C. as of March 31, 2016.  These clubs collectively
served approximately 553,000 members as of March 31, 2016.  For
more information on TSI, including the Company's Form 10-Q for the
quarterly period ended March 31, 2016, visit
http://investor.mysportsclubs.com.

                            *    *    *

As reported by the TCR on March 14, 2016, Standard & Poor's Ratings
Services said it raised its corporate credit rating on New York
City-based Town Sports International Holdings Inc. to 'CCC+' from
'SD'.

Town Sports carries a Caa2 corporate family rating from Moody's
Investors Service.


TRIANGLE PETROLEUM: Wells Fargo Cuts Borrowing Base to $225M
------------------------------------------------------------
Triangle USA Petroleum Corporation, a wholly-owned subsidiary of
Triangle Petroleum Corporation, received notice from Wells Fargo
Bank, National Association, as administrative agent and issuing
lender under the Second Amended and Restated Credit Agreement,
dated Nov. 25, 2014, as amended by Amendment No. 1 on April 30,
2015, that its borrowing base has been redetermined in accordance
with the Credit Facility and reduced to $225 million from $350
million, effective as of April 28, 2016.  The new borrowing base
will be in effect until TUSA's next borrowing base redetermination
for the Credit Facility, which is expected to occur in October
2016.

As of April 28, 2016, TUSA had $347.5 million of outstanding
borrowings and $2.5 million of outstanding letters of credit under
the Credit Facility, or $125 million in excess of the redetermined
borrowing base (referred to as a borrowing base deficiency).  The
Credit Facility provides that within 10 days after TUSA's receipt
of a notification of a borrowing base deficiency, TUSA must elect
to cure the borrowing base deficiency through any combination of
the following actions:

   (A) repay amounts outstanding under the Credit Facility
       sufficient to cure the borrowing base deficiency within 30
       days after receipt of the borrowing base deficiency notice;


   (B) pledge as collateral additional oil and gas properties
       acceptable to the administrative agent and lenders within
       30 days after receipt of the borrowing base deficiency
       notice;

   (C) arrange to pay the deficiency in three equal monthly
       installments beginning 30 days after receipt of the
       deficiency notice; or

   (D) cure the borrowing base deficiency using a combination of
       options (A)-(C).

As of April 28, 2016, TUSA had cash on hand of approximately $152
million.  TUSA expects to elect to repay the borrowing base
deficiency in three equal monthly installments, the first payment
of which is due by May 31, 2016 (a payment due on a weekend or
holiday shall be made on the next business day).

                  About Triangle Petroleum

Triangle Petroleum Corporation is a Denver-based oil and natural
gas exploration and production company.   Triangle Petroleum
conducts its E&P, oilfield and midstream activities in the
Williston Basin of North Dakota and Montana.

KPMG LLP, in Denver, Colorado, issued a "going concern"
qualification on the Company's consolidated financial statements
for the year ended Jan. 31, 2016, citing that the Company does not
have sufficient liquidity to meet this obligation, if called by the
lenders.  These conditions raise substantial doubt about the
Company's ability to continue as a going concern.


TRINITY RIVER: 341 Meeting of Creditors Set for May 31
------------------------------------------------------
The meeting of creditors of Trinity River Resources LP is set to be
held on May 31 at 2:00 p.m., according to a filing with the U.S.
Bankruptcy Court for the Western District of Texas.

The meeting will take place at the Homer Thornberry Building,
Austin Room 1500, 903 San Jacinto, Austin, 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 Trinity River

Trinity River Resources LP sought protection under Chapter 11 of
the Bankruptcy Code in the U.S. Bankruptcy Court for the Western
District of Texas (Austin) (Case No. 16-10472) on April 21, 2016.

The Debtor is represented by Chelsea Rose Dal Corso, Esq., and
William A. (Trey) Wood III, Esq., at Bracewell LLP. The case is
assigned to Judge Tony M. Davis.

The Debtor estimated assets of $50 million to $100 million and
debts of $100 million to $500 million.


TRINITY RIVER: Court Permits Interim Use of Cash Collateral
-----------------------------------------------------------
Honorable Tony M. Davis of the U.S. Bankruptcy Court for the
Western District of Texas, Austin Division, permits Trinity River
Resources, LP, to use Cash Collateral solely to pay the expenses
set forth in the Interim Budget, which will expire on the Final
Hearing on May 16, 2016.

The Court allows the Debtor a variance of less than or equal to 8%
in the aggregate of the expense line items only when access to the
cash collateral is made only in conformance with the expense line
items in the Interim Budget.

The Court also allows the Debtor a carve-out amount not to exceed
$75,000 for the payment of fees and expenses of Professionals,
however, if the Committee is appointed, the Committee may spend up
to an aggregate amount not to exceed $30,000 of the Carve-Out to
investigate the claims, liens and security interests of Lenders.

Any party-in-interest objecting to the entry of the proposed Final
Order must file their written objections with the Clerk of the
Bankruptcy Court no later than May 12, 2016.

As reported earlier by the Troubled Company Reporter, the Debtor
filed a motion with the Bankruptcy Court "seeking permission to use
cash collateral of its existing secured lenders to fund its
business operations and pay present operating expenses."

"The Debtor faces immediate and irreparable harm to the estate
absent the emergency consideration of the relief requested in this
motion.  The immediate use is necessary, and it will stabilize the
Debtor's operations and revenue by paying ordinary, postpetition
operating expenses, and any court approved prepetition expenses
that may be at issue.  Without authority to use Cash Collateral,
the Debtor will not be able to function as a going concern, and
will not be able to proceed to consideration of a plan of
reorganization.

“As adequate protection for the diminution in value of Cash
Collateral, the Debtor intends to (i) maintain the value of its
business as a going-concern, (ii) provide replacement liens upon
now owned and after-acquired cash to the extent of any diminution
in value of Cash Collateral, and (iii) provide superpriority
administrative claims.”

A full-text copy of the Interim Cash Collateral Order dated April
26, 2016, with Budget is available at http://is.gd/fKZ7zt

                    About Trinity River

Trinity River Resources, LP was established in 2010 as an oil and
gas exploration and production company with a focus on East Texas
non-operated working interests.  Specifically, the Debtor owns
approximately 63,000 net acres in the established Woodbine sands
and Austin Chalk formations throughout Polk, Tyler, and Jasper
counties.

The Debtor's current net production is approximately 3,000 boe/d
comprised of 43.5% oil and 56.5% rich gas from approximately 164
wells (27 vertical Woodbine wells and 137 horizontal Austin Chalk
wells).  The Debtor's working interests are primarily operated by
its non-debtor affiliate BBX Operating, LLC.

Trinity River filed a Chapter 11 bankruptcy petition (Bankr. W.D.
Tex. Case No. 16-10472) on April 21, 2016.  The petition was signed
by Matthew J. Telfer as manager of Trinity River Resources, GP,
LLC.  The Debtor estimated assets in the range of $50 million to
$100 million and liabilities of up to $500 million.

The Debtor has hired Bracewell LLP as counsel, Bridgepoint
Consulting, LLC as financial advisor and Scotiabank as investment
banker.

Judge Tony M. Davis is assigned to the case.


TRINITY TEMPLE: Case Summary & 20 Largest Unsecured Creditors
-------------------------------------------------------------
Debtor: The Trinity Temple Church of God in Christ
        275 Dixwell Avenue
        New Haven, CT 06511

Case No.: 16-30714

Chapter 11 Petition Date: May 5, 2016

Court: United States Bankruptcy Court
       District of Connecticut (New Haven)

Judge: Hon. Julie A. Manning

Debtor's Counsel: Jeffrey M. Sklarz, Esq.
                  GREEN & SKLARZ LLC
                  700 State Street, Suite 100
                  New Haven, CT 06511
                  Tel: 203-285-8545
                  Fax: 203-823-4546
                  E-mail: jsklarz@gs-lawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Charles H. Brewer, III, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ctb16-30714.pdf


ULTRA PETROLEUM: Common Stock Trading Suspended on NYSE
-------------------------------------------------------
The New York Stock Exchange suspended trading in Ultra Petroleum
Corp.'s common stock at the market opening and notified the Company
that its common stock is no longer suitable for listing pursuant to
Section 802.01D of the NYSE continued listing standards.  The NYSE
reached this decision in view of the Company's April 29, 2016,
announcement that it and certain of its subsidiaries had filed the
bankruptcy petitions.  In reaching its delisting determination, the
staff of the NYSE also noted the uncertainty as to the timing and
outcome of the bankruptcy process, as well as the ultimate effect
of the process on the value of the Company's common stock.

Under the NYSE listing procedures, the Company has a right to a
review of this determination by a Committee of the Board of
Directors of the NYSE, provided a written request for such review
is filed with the Assistant Corporate Secretary of the NYSE within
ten business days after receiving the notice of delisting.  The
Company has decided not to seek this review.

The Company's common stock is expected to commence trading on the
OTC Pink Marketplace under the symbol "UPLMQ" on May 3, 2016.  The
Company can provide no assurance that its common stock will
commence or continue to trade on this market, whether
broker-dealers will continue to provide public quotes of the
Company's common stock on this market, whether the trading volume
of the Company's common stock will be sufficient to provide for an
efficient trading market or whether quotes for the Company's common
stock will continue on this market in the future.

                      Event of Defualt

The filing of the Bankruptcy Petitions constitutes an event of
default that accelerated the Company's obligations under the
following debt instruments:

   * The Company's 5.750% Senior Notes due December 2018, issued
     pursuant to the indenture, dated December 12, 2013, between
     the Company and U.S. Bank National Association, as trustee;

   * The Company's 6.125% Senior Notes due October 2024 issued
     pursuant to the indenture, dated September 18, 2014, between
     the Company and U.S. Bank National Association, as trustee;

   * The Credit Agreement, dated as of October 6, 2011, among
     Ultra Resources, Inc., JPMorgan Chase Bank, N.A. as
     administrative agent, and the lenders party thereto, as
     amended; and

   * Ultra Resources' 5.92% Senior Notes, Series 2008-B, due March

     2018; 7.31% Senior Notes, Series 2009-A, due March 2016;
     7.77% Senior Notes, Series 2009-B, due March 2019; 4.98%
     Senior Notes, Series 2010-A, due January 2017; 5.50% Senior
     Notes, Series 2010-B, due January 2020; 5.60% Senior Notes,
     Series 2010-C, due January 2022; 5.85% Senior Notes, Series
     2010-D, due January 2025; 4.51% Senior Notes, 2010 Series E,
     due October 2020; 4.66% Senior Notes, 2010 Series F, due
     October 2022; 4.91% Senior Notes, 2010 Series G, due October
     2025, issued pursuant to the Master Note Purchase Agreement,
     dated March 6, 2008, as supplemented.

The Debt Instruments provide that as a result of the Bankruptcy
Petitions the principal and interest due thereunder shall be
immediately due and payable.  Any efforts to enforce those payment
obligations under the Debt Instruments are automatically stayed as
a result of the Bankruptcy Petitions, and the creditors' rights of
enforcement in respect of the Debt Instruments are subject to the
applicable provisions of the Bankruptcy Code.

                       About Ultra Petroleum

Ultra Petroleum Corp. is an independent oil and gas company engaged
in the development, production, operation, exploration and
acquisition of oil and natural gas properties.  The Company was
incorporated on Nov. 14, 1979, under the laws of the Province of
British Columbia, Canada.  Ultra remains a Canadian company, but
since March 2000, has operated under the laws of Yukon, Canada
pursuant to Section 190 of the Yukon Business Corporations Act. The
Company's principal business activities are developing its
long-life natural gas reserves in the Green River Basin of
southwest Wyoming -- the Pinedale and Jonah fields, its oil
reserves in the Uinta Basin in northeast Utah and its natural gas
reserves in the north-central Pennsylvania area of the Appalachian
Basin.

Each of Ultra Petroleum Corp., Keystone Gas Gathering, LLC,
Ultra Resources, Inc., Ultra Wyoming LGS, LLC, Ultra Wyoming, Inc.,
UP Energy Corporation, UPL Pinedale, LLC, and UPL Three Rivers
Holdings, LLC filed a voluntary petition under Chapter 11 of the
Bankruptcy Code (Bankr. S.D. Tex. Proposed Lead Case No.  16-32202)
on April 29, 2016.  The petitions were signed by Garland R. Shaw as
chief financial officer.

The Debtors listed total assets of $1.28 billion and total debts of
$3.91 billion as of March 31, 2016.

The Debtors have engaged Jackson Walker, L.L.P., and Kirkland &
Ellis LLP as counsel; Rothschild, Inc. and  Petrie Partners as
investment bankers; and Epiq Bankruptcy Solutions, LLC as claims
and noticing agent.

Judge Marvin Isgur has been assigned the cases.


ULTRA PETROLEUM: U.S. Trustee Forms 7-Member Committee
------------------------------------------------------
The Office of the U.S. Trustee appointed seven creditors of Ultra
Petroleum Corp. to serve on the official committee of unsecured
creditors.

The committee members are:

     (1) Delaware Trust Company
         as Successor Indenture Trustee
         for the Ultra Petroleum Notes
         ATTN: Sandra E. Horwitz, Managing Director
         2711 Centerville Road
         Wilmington, DE 19808
         877- 374-6010 x 62412, (phone)
         302-636-8666 (fax)
         shorwitz@delawaretrust.com

     (2) JPMorgan Chase Bank, N.A.
         as Agent for the bank group
         Attn: Jane Orndahl
         277 Park Avenue, 22nd Floor
         Mailcode NY1-L271, New York, NY 10172
         212-270-0522 (phone)
         212-270-0433 (fax)
         jane.orndahl@chase.com

     (3) The Prudential Insurance Company of America et. al.
         Attn: )Thomas E. Luther, Managing Director
         180 N. Stetson Ave.
         Suite 5600, Chicago, IL 60601
         312-861-4432 (phone)
         312-560-4222 (fax)
         thomas.luther@prudential.com

     (4) Halliburton Energy Services
         Attn: Elba Para, Credit and Claims Manager,
         10200 Bellaire Blvd, 2NW 24E
         Houston, TX 77072-5206
         281- 988-2193 (phone)
         elba.parra@halliburton.com;

     (5) Rockies Express Pipeline LLC
         Attn: Matthew Sheehy, President
         4200 West 115th St., Suite 350
         Leawood, KS 66211-2609
         913-928-6028 (phone)
         matt.sheehy@tallgrassenergylp.com
                  
     (6) Sunoco Partners Marketing & Terminals L.P.
         Attn: Mike Braverman, Counsel for Sunoco
         215-246-8558 (phone)
         866-244-5696 (fax)
         mrbraverman@sunocologistics.com;
              
     (7) Doyle and Margaret Hartman
         500 N. Main Street
         Midland, TX 79701
         432-684-4011 (phone)
         432-682-7616 (fax)
         dhoo-ll@swbell.net.

Official creditors' committees have the right to employ legal and
accounting professionals and financial advisors, at a debtor's
expense. They may investigate the debtor's business and financial
affairs. Importantly, official committees serve as fiduciaries to
the general population of creditors they represent.

                      About Ultra Petroleum

Ultra Petroleum Corp. is an independent oil and gas company engaged
in the development, production, operation, exploration and
acquisition of oil and natural gas properties.  The Company was
incorporated on Nov. 14, 1979, under the laws of the Province of
British Columbia, Canada.  Ultra remains a Canadian company, but
since March 2000, has operated under the laws of Yukon, Canada
pursuant to Section 190 of the Yukon Business Corporations Act. The
Company's principal business activities are developing its
long-life natural gas reserves in the Green River Basin of
southwest Wyoming -- the Pinedale and Jonah fields, its oil
reserves in the Uinta Basin in northeast Utah and its natural gas
reserves in the north-central Pennsylvania area of the Appalachian
Basin.

Ultra Petroleum reported a net loss of $3.2 billion on $839 million
of total operating revenues for the year ended Dec. 31, 2015,
compared to net income of $543 million on $1.23 billion of total
operating revenues for the year ended Dec. 31, 2014.

In its report on the consolidated financial statements for the year
ended Dec. 31, 2015, Ernst & Young LLP issued a "going concern"
qualification stating that the Company's maturing Credit Agreement
and debt covenant violation raise substantial doubt about the
Company's ability to continue as a going concern.


UNI-PIXEL INC: Incurs $8.41 Million Net Loss in First Quarter
-------------------------------------------------------------
Uni-Pixel, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $8.41
million on $850,000 of revenue for the three months ended
March 31, 2016, compared to a net loss of $5.68 million on $7,000
of revenue for the same period a year ago.

As of March 31, 2016, Uni-Pixel had $17.88 million in total assets,
$5.07 million in total liabilities and $12.81 million in total
shareholders' equity.

Jeffrey A. Hawthorne, president and chief executive officer of
UniPixel, said, "The first quarter of 2016 marks an important
transformational point in the history of UniPixel.  One year ago,
UniPixel was a pre-production company with no orders or revenue.
During the past year we made a key acquisition, expanded our
management with highly experienced technology executives and
leveraged our acquired technology and manufacturing capabilities.
Over the past nine months we introduced our products to many of the
world's Tier 1 PC manufacturers, had those products tested and
evaluated, and announced 14 design wins since the beginning of the
calendar year.  We have made important and substantial progress in
a short period of time in both expanding our customer base and
continuously upgrading our manufacturing process."

"Our products are significantly differentiated from those that are
currently in wide adoption," continued Mr. Hawthorne.  "We see
evidence that the market is shifting in favor of metal mesh, which
is our technology base, as consumers are demanding devices that are
thinner, lighter, faster with highly responsive touchscreens and
advanced stylus capabilities, all of which are optimized with metal
mesh technology.  Our copper wire mesh touchscreen sensors and the
ability to replace other materials in touchscreen module assemblies
enable PC manufacturers to create products with those critically
important attributes and uniquely positions UniPixel for growth in
the coming years.  Our recent program wins reflect the advantage of
our unique technology and our creativity in designing real-world
solutions for the next generation of computing devices."

Mr. Hawthorne concluded, "Looking ahead, the 14 design wins we have
announced since January 2016 will move through the standard
qualification process and into production during the second half of
calendar year 2016 and early 2017.  Our focus is to successfully
execute on these programs, leverage off of these programs with our
industry leading customers for additional wins, and drive our
technology roadmap to expand our product offerings. We are very
pleased with the sales and marketing results of the first quarter
and look toward the rest of the year with great anticipation."

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

                        http://is.gd/qvbZHt

                       About Uni-Pixel Inc.

The Woodlands, Tex.-based Uni-Pixel, Inc. (OTC BB: UNXL)
-- http://www.unipixel.com/-- is a production stage company       

delivering its Clearly Superior(TM) Performance Engineered Films
to the Lighting & Display, Solar and Flexible Electronics market
segments.

Uni-Pixel reported a net loss of $37.02 million on $3.75 million of
revenue for the year ended Dec. 31, 2015, compared to a net loss of
$25.7 million on $0 of revenue for the year ended Dec. 31, 2014.


UNIVERSAL ACADEMY: S&P Lowers 2014 Bonds to 'B+'
------------------------------------------------
S&P Global Ratings lowered its rating to 'B+' from 'BB-' on
Arlington Higher Education Financial Corp., Texas' series 2014
tax-exempt fixed-rate education revenue bonds and taxable bonds,
issued for LTTS Charter School Inc., doing business as Universal
Academy (UA).  The outlook is negative.

"The downgrade reflects the significant decline in days' cash on
hand to eight and large operating deficit of approximately $2
million as of fiscal 2015 year end," said S&P Global Ratings credit
analyst Stephanie Wang.  "Management attributed the financial
weakness to growing pains associated with the first year of
operations in the new building at the Coppell campus."

The 2015 audit stated that the school was in violation of its
coverage covenant and cash covenant but management has noted that
there are prefunded payments held in a trust for the payment of
debt service that should have been subtracted from the annual debt
service requirement and included as part of the liquidity
calculation, which results in the school being in compliance of the
cash covenant.  The coverage covenant is just below the 1.1x
covenant (at 1.08x) but above 1.0x so no event of default declared.
When rounding, the coverage covenant is at 1.1x, so management is
unsure whether a management consultant will be required.
Currently, there has been no delinquent or missed debt service
payment nor does management expect any in the future.

The bonds are secured by a gross revenue pledge, and all real and
personal property subject to the deed of trust.

"The negative outlook reflects our view of the very weak balance
sheet, which offers the academy little financial flexibility,"
Added Ms. Wang.  Despite efforts to improve financial management,
results are still unproven and fiscal 2016 financial results may
remain pressured.  S&P believes that there is risk that the school
may continue to hover at covenant levels with a possibility for
violations.

Further negative rating actions are possible should operations and
cash levels fail to improve or actually worsen.  Deterioration of
the enrollment profile would also be viewed negatively.  A
violation of covenants that trigger an event of default would also
result in a multi-notch downgrade.

A positive rating action is possible should financials stabilize
and the school is able to grow enrollment and demonstrate the
ability to sustain greater than 1.1x maximum annual debt service
coverage, and more than 30 days' cash.

UA operates two schools under one charter.  One campus is located
in Coppell, Texas and the other is located approximately 12 miles
north in Irving, Texas.  Total enrollment in fall 2015 was 1,985.


USA DISCOUNTERS: Committee Wants Cash Collateral Order Modified
---------------------------------------------------------------
The Official Committee of Unsecured Creditors of USA Discounters,
Ltd., et al., asks the Bankruptcy Court to modify the Cash
Collateral Order in order to eliminate the continued current
payment of interest to the Debtor USA Discounters, Ltd.'s Lenders
as adequate protection.

The Committee explains that it consented to the payment of default
rate interest to the Lenders based upon the Debtors and the
Lenders' original plan to quickly wind down the Debtors' operations
and confirm a plan of liquidation by February 8, 2016. However, the
Committee complains that almost two months past the original
confirmation deadline, the Debtors have long since completed the
wind down of their operations, but the Debtors and the Lenders
refuse to move forward with a plan until resolution of certain
state attorneys general and other claims that existed prepetition
and that the Debtors and the Lenders certainly knew about when they
proposed the February 8 confirmation deadline.

The Debtors and the Prepetition Agent, Wells Fargo Bank, N.A.,
complain that Rule 60(b) does not permit the Committee to
renegotiate the Final Cash Collateral Order under the guise of a
"reconsideration" motion seven months after its entry when in fact
the Committee participated actively in arms-length negotiations
concerning the Final Cash Collateral Order and obtained concessions
from the Prepetition Agent. Furthermore, the Objectors explain that
the Motion is premature because the Final Cash Collateral Order
preserves the Committee's right to seek to recharacterize Adequate
Protection Payments, to wit: "To the extent that any cash payment
of interest, fees and expenses as adequate protection to the
Secured Parties is not allowed, such payments may be
recharacterized and applied as payments of principal owed under the
Prepetition Credit Documents."

Counsel to the Debtors and Debtors in Possession:

       Laura Davis Jones, Esq.
       James E. O’Neill, Esq.
       Colin R. Robinson, Esq.
       PACHULSKI STANG ZIEHL & JONES LLP
       919 North Market Street, 17th Floor
       P.O. Box 8705
       Wilmington, DE 19899-8705 (Courier 19801)
       Telephone: (302) 652-4100
       Facsimile: (302) 652-4400
       Email: ljones@pszjlaw.com
              joneill@pszjlaw.com
              crobinson@pszjlaw.com

       -- and -–

       Lee R. Bogdanoff, Esq.
       Michael L. Tuchin, Esq.
       Whitman L. Holt, Esq.
       Sasha M. Gurvitz, Esq.
       KLEE, TUCHIN, BOGDANOFF & STERN LLP
       1999 Avenue of the Stars, 39th Floor
       Los Angeles, CA 90067
       Telephone: (310) 407-4023
       Facsimile: (310) 407-9090
       Email: lbogdanoff@ktbslaw.com
              mtuchin@ktbslaw.com
              wholt@ktbslaw.com
              sgurvitz@ktbslaw.com

The Official Committee of Unsecured Creditors is represented by:

       Domenic E. Pacitti, Esq.
       KLEHR HARRISON HARVEY BRANZBURG LLP
       919 Market Street – Suite 1000
       Wilmington, Delaware 19801-3062
       Telephone: (302) 426-1189
       Facsimile: (302) 426-9193
       Email: dpacitti@klehr.com

       — and —

       Eric R. Wilson, Esq.
       Jason R. Adams, Esq.
       KELLEY DRYE & WARREN LLP
       101 Park Avenue
       New York, New York 10178
       Telephone: (212) 808-7800
       Facsimile: (212) 808-7897
       Email: ewilson@kelleydrye.com
              jadams@kelleydrye.com

Wells Fargo Bank, N.A. is represented by:

       Regina Stango Kelbon, Esq.
       BLANK ROME LLP
       1201 Market Street, Suite 800
       Wilmington, Delaware 19801
       Telephone: (302) 425-6400
       Facsimile: (302) 425-6464
       E-mail:  kelbon@blankrome.com

       -- and --

       John E. Lucian, Esq.
       Kevin J. Baum, Esq.
       Gregory F. Vizza, Esq.
       BLANK ROME LLP
       One Logan Square
       130 North 18th Street
       Philadelphia, Pennsylvania 19103-6998
       Telephone: (215) 569-5500
       Facsimile: (215) 569-5555
       E-mail: ucian@blankrome.com
               aum@blankrome.com
               vizza@blankrome.com

             About USA Discounters

USA Discounters, Ltd., was founded in May 1991. in the City of
Norfolk, Virginia, under the name USA Furniture Discounters, Ltd.
It sold goods through two groups of stores -- one group of
specialty retail stores operating under the "USA Living" brand,
typically in standalone locations, and seven additional retail
stores operating under the "Fletcher's Jewelers" brand, typically
in major shopping malls.

USA Discounters, Ltd., and two affiliates sought Chapter 11
bankruptcy protection (Bankr. D. Del. Lead Case No. 15-11755) on
Aug. 24, 2015, to wind down the business.

The Debtors tapped Pachulski Stang Ziehl & Jones LLP and Klee,
Tuchin, Bogdanoff & Stern LLP as attorneys, and Kurtzman Carson
Consultants, LLC, as claims and noticing agent.

USA Discounters Ltd. disclosed total assets of $97,490,455 plus an
undetermined amount and total liabilities of $63,011,206 plus an
undetermined amount.

The Official Committee of Unsecured Creditors is represented by
Kelly Drye & Warren LLP as lead counsel, Khler Harrison Harvey
Branzburg LLP as its Delaware co-counsel.  FTI Consulting, Inc.,
serves as its financial advisor.


UTSTARCOM HOLDINGS: Gu Guoping, et al., Own 31.7% Ordinary Shares
-----------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Gu Guoping, Shanghai Phicomm Communication Co., Ltd.,
Phicomm Technology (Hong Kong) Co., Limited, The Smart Soho
International Limited and Chongqing Liangjian New Area Strategic
Emerging Industries Equity Investment Fund Partnership (Limited
Liability Partnership) disclosed that as of April 29, 2016, they
beneficially own 11,739,932 Ordinary Shares, Par Value US$0.00375
per share of UTStarcom Holdings Corp. representing 31.7 percent of
the shares outstanding.  A copy of the regulatory filing is
available at http://is.gd/yAxU7r

                       About UTStarcom, Inc.

UTStarcom, Inc. (Nasdaq: UTSI) -- http://www.utstar.com/-- is a
global leader in IP-based, end-to-end networking solutions and
international service and support.  The Company sells its
solutions to operators in both emerging and established
telecommunications markets around the world.  UTStarcom enables
its customers to rapidly deploy revenue-generating access services
using their existing infrastructure, while providing a migration
path to cost-efficient, end-to-end IP networks.  The Company's
headquarters are currently in Alameda, California, with its
research and design operations primarily in China.

UTStarcom reported a net loss of $20.7 million on $117 million of
net sales for the year ended Dec. 31, 2015, compared to a net loss
of $30.3 million on $129 million of net sales for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, UTStarcom had $205 million in total assets,
$115 million in total liabilities and $90.3 million in
shareholders' equity.


VALEANT PHARMACEUTICALS: S&P Revises Watch on 'B' CCR to Positive
-----------------------------------------------------------------
S&P Global Ratings revised the CreditWatch implications on its 'B'
corporate credit rating and 'BB-' secured debt rating on Valeant
Pharmaceuticals International Inc. to positive from developing.
S&P lowered the ratings to current levels and placed them on
CreditWatch with developing implications on April 14, 2016.

The 'B-' rating on the unsecured debt remains on CreditWatch with
developing implications.

The recovery rating on the secured debt is '1', reflecting S&P's
expectation for very high (90%-100%) recovery in the event of a
default.  The recovery rating on the unsecured debt is '5',
generally indicating expectations for modest (10%-30%, at the upper
end of the range) recovery in the event of a payment default.

"The revised CreditWatch implications on the corporate credit
rating and secured debt rating [to positive from developing]
reflects the reduction in the risk of a near-term default following
the April 29, 2016, 10-K filing," said Standard & Poor's credit
analyst David Kaplan.  The company had delayed filing its 10-K for
the fiscal year ended Dec. 31, 2015.  In addition, last week's
filing of the audited financial statements with only modest
restatements alleviates uncertainty about the reliability of
previously reported financial performance.

Notwithstanding that the company provided financial guidance,
visibility into 2016 operating performance is limited.  S&P
believes Valeant's reputation and business relationships have been
materially harmed by the company's aggressive strategies including
significant drug price increases and the use of Philidor as a
distribution channel, and S&P believes the company's ability to
grow organically is likely to be significantly constrained going
forward.

S&P views the change in the CEO and substantial changes to the
board as incrementally positive for the company's reputation,
though S&P still expects the company to face continued
reputational, legal, and regulatory headwinds.

S&P could raise the corporate credit rating to 'B+' once it has
greater confidence that 2016 operating trends will meet S&P's base
case.  This could occur once the company reports results for the
second quarter of 2016, providing the company remains comfortable
affirming its most recent financial guidance for 2016.

The developing CreditWatch on the 'B-' unsecured debt rating
reflects the potential for either an upgrade or a downgrade.  The
potential upgrade on the unsecured debt to 'B' could occur if the
company pursues material asset sales and reduces secured debt
outstanding by at least several billion dollars, such that recovery
prospects for unsecured lenders are materially improved.
Alternatively, S&P could lower the rating to 'CCC+' if it concludes
the company's profitability is likely to fall materially short of
S&P's base case, such that it don't raise the corporate credit
rating, and providing S&P also no longer believes that asset sales
are likely in the near term.  Absent asset sales S&P expects to
revise the unsecured recovery rating to '6', which would result in
an issue-level rating two notches lower than the corporate credit
rating.

S&P expects that following receipt of second-quarter earnings, it
will be able to determine if the company is on track to meet S&P's
2016 forecast, in which case it will consider a one-notch upgrade
to the corporate credit rating and secured debt rating.  In the
event that guidance is lowered before the second quarter S&P may
resolve the CreditWatch earlier.  S&P will also be monitoring the
company's posture toward meaningful asset sales to make the final
determination on the recovery rating on the senior unsecured debt.


VEREIT INC: S&P Revises Outlook to Positive & Affirms 'BB' CCR
--------------------------------------------------------------
S&P Global Ratings revised its outlook on VEREIT Inc. to positive
from stable.  At the same time, S&P affirmed its 'BB' corporate
credit rating.

The outlook revision follows VEREIT's successful execution of some
of the key business plans detailed previously.  In August 2015, the
company outlined a four-pronged strategy with a focus on portfolio
enhancement, restoring the brand value of Cole Capital, reducing
debt and improving the balance sheet, and establishing a
sustainable dividend.

"In addition to maintaining solid operating performance in its core
portfolio, we believe the new senior management team and recently
appointed board of directors have achieved some critical
milestones," said credit analyst Anita Ogbara.  "Namely, VEREIT
completed $1.4 billion in asset sales and applied proceeds to
reduce consolidated debt by $2.4 billion and bolster its liquidity
position, as well as remediate all material financial weaknesses
associated with its 2014 financial audit.  Still, there is lack of
clarity regarding unquantified litigation liabilities related to
accounting improprieties identified in October 2014."

The outlook is positive.  S&P expects VEREIT to maintain operating
performance at or near current levels and will continue to
opportunistically sell assets to reduce debt, and strategically
raise capital through its investment platform, Cole Capital.  S&P
expects full-year 2016 debt to EBITDA at about 8x, FCC in the high
2x area, and debt to undepreciated capital at below 50%.

S&P could raise the rating if the company continues to execute its
business plan, strengthens its competitive position via effective
capital deployment in acquisitions, and continues to improve its
leverage profile modestly by applying asset sale proceeds to reduce
debt, while maintaining debt to EBITDA in the 8x area, FCC above
2.5x, and debt to undepreciated capital declining below 50%. Under
this scenario, S&P also expects VEREIT to stabilize its asset
portfolio and pursue a disciplined acquisition strategy to enhance
its portfolio.

S&P could lower the rating if the VEREIT's strategic initiatives
stumble, if the company experiences issues with liquidity, possibly
because of a large litigation cost, or if S&P believes
leverage/financial policy will be sustained with debt to EBITDA
above 9.5x and FCC below 1.7x.


VERTAFORE INC: S&P Puts 'B' CCR on CreditWatch Negative
-------------------------------------------------------
S&P Global Ratings placed its ratings on Bothell, Wash.-based
Vertafore Inc., including its 'B' corporate credit rating, on
CreditWatch with negative implications.

As part of the acquisition, S&P expects that the company will repay
its $620 million first-lien term loan due 2019 and $260 million
second-lien term loan due 2017.  S&P will withdraw the ratings on
the company after the transaction closes.

The CreditWatch placement follows Vertafore's announcement that
Bain Capital and Vista Equity Partners agreed to acquire the
company from private equity firm TPG Capital.

"We believe the transaction could result in Vertafore's leverage
increasing from current debt to EBITDA of 4.9x," said S&P Global
Ratings analyst Sylvester Malapas.


VISUALANT INC: Incurs $295,000 Net Loss in Second Quarter
---------------------------------------------------------
Visualant, Incorporated, filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $294,691 on $1.46 million of revenue for the three months ended
March 31, 2016, compared to net income of $2.24 million on $1.43
million of revenue for the same period in 2015.

For the six months ended March 31, 2016, the Company reported a net
loss of $2.30 million on $2.75 million of revenue compared to a net
loss of $915,058 on $3.27 million of revenue for the six months
ended March 31, 2015.

As of March 31, 2016, Visualant had $3.03 million in total assets,
$9.66 million in total liabilities, all current, and $6.62 million
in total stockholders' deficit.

The Company had cash of $521,000 and net working capital deficit of
approximately $4,467,000 (excluding the derivative liability-
warrants of $3,574,000) as of March 31, 2016.  The Company expects
losses to continue as it commercializes its ChromaID technology.
The Company's cash used in operations for the six months ended
March 31, 2016, and the years ended Sept. 30, 2015, and 2014 was
$(1,188,000)  ($240,000) and $(1,379,000), respectively.  The
Company believes that its cash on hand will be sufficient to fund
its operations through June 30, 2016.

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

                     http://is.gd/hSdA5U

                     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.

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.


VIVID SEATS: S&P Assigns 'B' Corp. Credit Rating, Outlook Stable
----------------------------------------------------------------
S&P Global Ratings said that it assigned its 'B' corporate credit
rating to Chicago-based private equity firm Vivid Seats LLC.  The
rating outlook is stable.

At the same time, S&P assigned its 'B+' issue-level rating and '2'
recovery rating to Vivid Seat's $20 million first-lien senior
secured revolving credit facility and $253 million first-lien
senior secured term loan.  The '2' recovery rating indicates S&P's
expectation for substantial recovery (70%-90%; upper half of the
range) of principal in the event of a payment default.

"The 'B' corporate credit rating on Vivid Seats reflects the
company's highly substitutable product and services, the somewhat
low barriers to entry in the secondary ticket market, and the
company's aggressive financial policy," said S&P Global Ratings
credit analyst Khaled Lahlo.  "These weaknesses are partially
offset by Vivid Seats' strong relationships with professional
ticket brokers, our expectation for healthy discretionary cash flow
in 2016, and the company's adequate liquidity."

On Feb. 18, 2016, Vivid Seats announced a series of revisions to
the first-lien term loan offering.  The changes include increasing
the first-lien senior secured term loans to $253 million from $240
million, scaling back the term loan to six years from seven years,
and increasing the annual amortization to 5% from 1%.

"The stable rating outlook reflects our expectation that Vivid
Seats will enjoy good operating performance with double-digit
revenue growth in 2016 and possibly in 2017, while maintaining
adequate liquidity," said Mr. Lahlo.  "However, we believe that
adjusted debt leverage will likely remain above 5x due to the
company's financial sponsor ownership."

S&P could lower its corporate credit rating on Vivid Seats if poor
operating performance causes the company's discretionary cash flow
to decline to a near breakeven level.  This could occur if revenue
growth declines by 3% and gross margin decreases to below 70% in
2016.  Additionally, S&P could lower the rating if the company's
business risk profile assessment weakens due to a significant
increase in competitive pressure (likely from a new competitor),
market share losses, or lower-than-expected return on marketing
investments.

S&P could raise the rating if the company reduces leverage to below
5x on a sustained basis and commits to a less aggressive financial
policy.  S&P believes this is less likely, given the company's
private equity ownership.


WELLNESS CENTER: Weinberg & Co. Replaces Li and Co. as Auditors
---------------------------------------------------------------
The Audit Committee of the Board of Directors of Wellness Center
USA, Inc. has completed a review regarding the appointment of the
Company's independent registered public accounting firm for the
year ending Sept. 30, 2016, and for the interim period continuing
from May 2, 2016, through such fiscal year end.

As a result of this process on April 29, 2016, the Audit Committee
engaged Weinberg & Company, P.A., 1925 Century Plaza East, Suite
1120, Los Angeles, California 90067 (310) 601-2200, as the
Company's independent registered public accounting firm for said
fiscal year and interim period, and dismissed Li and Company, PC
from that role.

The audit reports of Li & Co. on the Company's consolidated
financial statements as of and for the fiscal years ended
Sept. 30, 2015, and Sept. 30, 2014, did not contain an adverse
opinion or a disclaimer of opinion and were not qualified or
modified as to uncertainty, audit scope or accounting principles
other than an explanatory paragraph as to a going concern.

During the fiscal years ended Sept. 30, 2015, and Sept. 30, 2014,
and the subsequent interim period through April 29, 2016, there
were (i) no "disagreements" as that term is defined in Item
304(a)(1)(iv) of Regulation S-K, between the Company and Li & Co.
on any matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure.

During the fiscal years ended Sept. 30, 2015, and Sept. 30, 2014,
and the subsequent interim period through April 29, 2016, neither
the Company nor anyone acting on its behalf has consulted with
WCPA, according to a Form 8-K report filed with the Securities and
Exchange Commission.

                      About Wellness Center

Wellness Center USA, Inc. (WCUI:OTC US) is an alternative
healthcare, medical device solutions and online nutraceutical sales
company.  The Company has four business units: Stealth Mark, which
sells, licenses or provides certain authentication and encryption
products and services; National Pain Centers, Inc., which
specializes in spine and multimodal pain; Psoria-Shield Inc., a
developer and manufacturer of Ultra Violet (UV) phototherapy
devices for the treatment of skin diseases; and CNS-Wellness LLC,
which specializes in the treatment of
brain-based behavioral health disorders.

As of Dec. 31, 2015, the Company had $973,336 in total assets,
$922,216 in total liabilities and $158,858 in total stockholders'
equity and a $107,738 in noncontrolling interest.

Wellness Center reported a net loss of $4.86 million for the fiscal
year ended Sept. 30, 2014, compared to a net loss of $2.81 million
for the fiscal year ended Sept. 30, 2013.

Li and Company, PC, in Skillman, New Jersey, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2014.  The independent auditors noted that
the Company had an accumulated deficit at Sept. 30, 2014, a net
loss and net cash used in operating activities for the reporting
period then ended.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


WELLSVILLE FOUNDRY: Court Extends Plan Exclusivity to Aug. 10
-------------------------------------------------------------
Bankruptcy Judge Kay Woods of the U.S. Bankruptcy Court for the
Northern District of Ohio granted the request of The Wellsville
Foundry, Inc., to extend the Debtor's exclusive right to file a
Plan of Reorganization to Wednesday, August 10, 2016, and the
Debtor's exclusive right to obtain acceptances to the Plan to
Monday, October 10, 2016.  This Order is without prejudice to the
Debtor's right to request further extensions of time if necessary
and appropriate.

The Wellsville Foundry, Inc., based in Wellsville, Ohio, filed a
Chapter 11 petition (Bankr. N.D. Ohio Case No. 15-41687) on
September 15, 2015.  Judge Kay Woods presides over the case.  In
its petition, the Debtor estimated $1 million to $10 million in
both assets and liabilities.  The petition was signed by C.H.
Gilmore, president.

The Debtor is represented by:

         Guy C. Fustine, Esq.
         KNOX McLAUGHLIN GORNALL & SENNETT, P.C.
         120 West Tenth Street
         Erie, PA 16501-1461
         Tel: (814) 459-2800
         E-mail: gfustine@kmgslaw.com


WEST CORP: Reports $44.6 Million Net Income for First Quarter
-------------------------------------------------------------
West Corporation filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing net income of $44.6
million on $571 million of revenue for the three months ended March
31, 2016, compared to net income of $80.5 million on $565 million
of revenue for the same period in 2015.

As of March 31, 2016, West Corp had $3.52 billion in total assets,
$4.05 billion in total liabilities and a total stockholders'
deficit of $536 million.

"If we cannot make scheduled payments on our debt, we will be in
default, and as a result:

* our debt holders could declare all outstanding principal and
   interest to be due and payable;

* the lenders under our Senior Secured Credit Facilities and the
   Senior Secured Revolving Credit Facility could terminate their
   commitments to lend us money and foreclose against the assets
   securing our borrowings; and

* we could be forced into bankruptcy or liquidation."

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

                       http://is.gd/k42f40

                      About West Corporation

Omaha, Neb.-based West Corporation is a global provider of
communication and network infrastructure solutions.  West helps
manage or support essential enterprise communications with services
that include conferencing and collaboration, public safety
services, IP communications, interactive services such as automated
notifications, large-scale agent services and telecom services.

West Corporation reported net income of $242 million on $2.28
billion of revenue for the year ended Dec. 31, 2015, compared to
net income of $158 million on $2.21 billion of revenue for the year
ended Dec. 31, 2014.

                          *     *     *

As reported by the TCR on June 21, 2013, Standard & Poor's Ratings
Services raised its corporate credit rating on West Corp. to 'BB-'
from 'B+'.  The upgrade reflects Standard & Poor's view that lower
debt leverage and a less aggressive financial policy will
strengthen the company's financial profile.

In the April 4, 2013, edition of the TCR, Moody's Investor Service
upgraded West Corporation's Corporate Family Rating to 'B1' from
'B2'.  "The CFR upgrade to B1 reflects West's shift to a more
conservative capital structure and financial policies as a publicly
owned company," stated Moody's analyst Suzanne Wingo.


WINDSOR FINANCIAL: Objects to Conversion Bid
--------------------------------------------
Windsor Financial Group LLC objects to ASICS America Corporation's
motion to convert the Debtor's case to a Chapter 7 proceeding or,
in the alternative, to appoint a Chapter 11 Trustee.

The Debtor argues that the transactions that ASICS vilifies in its
Motion occurred prior to the Petition Date and all amounts due to
the Debtor were repaid by the related parties prior to the Petition
Date where each transaction were substantially contemporaneously
accounted for was recorded in the Debtor's general ledger as either
"due to" a related party (in the case of advancements made to the
Debtor) or as "due from" a related party.

Moreover, the Debtor tells the Court that it has already filed a
Plan and is currently negotiating revisions to the Plan to satisfy
the concerns of the Committee -- the releases that ASICS finds
offensive likely will be removed from the revised Plan that the
Debtor intends to submit once its discussions with the Committee
are finalized – where the key revisions to the Plan that the
parties are negotiating include preserving the estate'x causes of
action against related parties with respect to related party
transactions and permitting the Committee to review the related
party transactions and seek to recover any amounts that remain due
from any related party.

Accordingly, the Debtor states that the Court should permit the
Debtor to conclude its discussions with the Committee, file a
revised Plan, seek approval of a disclosure statement, and allow
all creditors to cast their votes rather than converting the
Chapter 11 Case at the request of ASICS -- who will be the sole
beneficiary of conversion -- considering that all creditors of the
Debtor stand to benefit immensely from confirmation of a Plan. It
is simply inappropriate to disenfranchise creditors, displace the
Debtor's management, and rob the Debtor of a reasonable opportunity
to propose a Plan on the basis of a request by the only party who
stands to benefit from conversion and on the thin evidence
presented in support of that request.

ASICS answers that the Debtor's General Ledger has provided further
evidence of management’s prepetition looting of the Debtor’s
assets -- as it now appears that no less than $5.1 million was
taken from the Debtor by Armando Ruiz alone -- and made clear that
the Debtor’s management has used its accounts to fund their own
lavish lifestyles during the same that the Debtor was unable to
meet its obligations and pay operating expenses. Even if the
insiders did repay such amounts (of which there is no evidence),
such treatment of the company accounts as a personal piggy bank is
wholly inappropriate and constitutes blatant mismanagement that
illustrates that the Debtor cannot be trusted to pursue the best
interests of the Debtor’s estate, ASICS further says.

Bellevue Square, LLC, joins ASICS 's Motion.

Windsor Financial Group LLC is represented by:

       S. Jason Teele, Esq.
       Nicole Stefanelli, Esq.
       LOWENSTEIN SANDLER LLP
       1251 Avenue of the Americas, 17th Floor
       New York, NY 10020
       Telephone: (973) 597-2500
       Facsimile: (973) 597-2400
       Email: steele@lowenstein.com
              nstefanelli@lowenstein.com

ASICS America Corporation is represented by:

       Jeffry A. Davis, Esq.
       Kaitlin R. Walsh, Esq.
       MINTZ, LEVIN, COHN, FERRIS, GLOVSKY AND POPEO, P.C.
       Chrysler Center
       666 Third Avenue
       New York, NY 10017
       Telephone: (212) 935-3000
       Email: JADavis@mintz.com
              KRWalsh@mintz.com

Bellevue Square, LLC is represented by:

       David A. Nold, Esq.
       NOLD MUCHINSKY PLLC
       10500 NE 8th Street, Ste. 930
       Bellevue, WA 98004
       Telephone: (425) 289-5555
       Email: dnold@noldmuchlaw.com

            About Windsor Financial Group

Windsor Financial Group LLC owned and operated ASICS retail stores
in the United States through a license agreement with ASICS America
Corporation.  It opened 13 ASICS retail stores -- including ASICS's
North American flagship store in Times Square -- expanding ASICS's
brand and presence in the United States.

On June 24, 2015, ASICS terminated Windsor's retail operating
agreement due to breach, including for failure to pay for
merchandise it purchased for resale.

On July 28, 2015, ASICS filed a complaint against Windsor in the
California District Court, Civil Action No. 8:15-cv-01194-JVS-JVM,
for injunctive relief and damages for the Debtor's breach of the
MRA, trademark infringement and unfair competition.  ASICS seeks
damages of no less than $5,753,096.

Windsor Financial Group filed a Chapter 11 bankruptcy petition
(Bankr. S.D.N.Y. Case No. 16-10097) on Jan. 15, 2016, intending to
use the chapter 11 process to sue ASICS for its misconduct and
fraud in the hopes of using those litigation proceeds to provide a
distribution to creditors and equity.

Armando Ruiz, the CEO, signed the bankruptcy petition.

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

Lowenstein Sandler LLP serves as the Debtor's counsel.


WRIGHTWOOD GUEST: Asks to Use Cash to Hold Booked Weddings
----------------------------------------------------------
Chapter 11 Trustee Richard J Laski asks the Bankruptcy Court's
permission to use Cash Collateral on a limited basis through July
31, 2016, for the payment of costs and expenses necessary to hold
the weddings that have already been booked with Wrightwood Guest
Ranch, LLC.

According to the Trustee, it will be impossible for the Trustee to
maintain Wrightwood Guest Ranch as a going concern without using
the Cash Collateral because substantially all the income of the
Estate has received has been in the form of non-refundable
regularly scheduled wedding deposit/prepayments paid pursuant to
wedding contracts that the Debtor entered into with various parties
in the ordinary course of its business prior to the Trustee's
appointment.

Although the Trustee has not permitted any further weddings to be
booked since his appointment, there are currently contracts for a
number of weddings scheduled to take place in summer of 2016, with
approximately 15 such weddings scheduled to take place prior to
July 31, 2016, and the Trustee just want to ensure that the
weddings that have been booked in the ordinary course prior to his
appointment are held as promised in order to avert disruption of
business and the potential accrual of significant administrative
claims from cancelled weddings.

Moreover, the Trustee intends to use the Cash Collateral to pay the
necessary costs of the limited operations, including maintenance
and insurance costs, as well as to any quarterly fees to the Office
of the U.S. Trustee as they become due.

Greenlake Real Estate Fund, LLC -- the only known entity that
asserts a security interest in the Cash Collateral -- complains
that the Trustee failed to establish adequate protection to
GreenLake since the monthly operating report shows that Debtor's
principal is still funneling funds away from the Debtor and it
fails to explain the identities of the entities to whom payments
are being made.

Although GreenLake recognizes that the Trustee is in difficult
circumstances given that the Debtor's principal has mismanaged the
Debtor from the outset of this case, but Greenlake tells the Court
that the Trustee is still required to fully explain the cash
position of the Debtor and to identify the entities to whom
disbursements are being made for this should be a precondition to
the case remaining in Chapter 11, let alone the use of cash
collateral. However, in the event that the Court is inclined to
grant the Motion, GreenLake requests that the Court limit its order
to the four corners of the Trustee's Motion -- no revenue from
other sources should be used.

A full-text copy of the Cash Collateral Motion dated April 19,
2016, with Budget is available at http://bit.ly/1YgT3qX

General Bankruptcy and Restructuring Counsel for Richard J. Laski,
Chapter 11 Trustee:

       Aram Ordubegian, Esq.
       M. Douglas Flahaut, Esq.
       ARENT FOX LLP
       555 West Fifth Street, 48th Floor
       Los Angeles, CA 90013-1065
       Telephone: 213.629.7400
       Facsimile: 213.629.7401
       Email: aram.ordubegian@arentfox.com
              douglas.flahaut@arentfox.com

GreenLake Real Estate Fund LLC is represented by:

       Timothy L. Neufeld, Esq.
       Yuriko M. Shikai, Esq.
       Eva Wong, Esq.
       NEUFELD MARKS
       A Professional Corporation
       315 W. 9th Street, Suite 501
       Los Angeles, California 90015
       Telephone: (213) 625-2625
       Facsimile: (213) 625-2650
       Email: tneufeld@neufeldmarks.com
              yshikai@neufeldmarks.com
              ewong@neufeldmarks.com

       -- and --

       Stephen F. Biegenzahn, Esq.
       FRIEDMAN LAW GROUP, P.C.
       1900 Avenue of the Stars, 11th Floor
       Los Angeles, California 90067
       Telephone: (310) 552-8210
       Facsimile: (310) 733-5442
       Email: sbiegenzahn@flg-law.com

            About Wrightwood Guest Ranch

Wrightwood Guest Ranch LLC, a California limited liability company,
provides recreational services such as Snow Play, Zip Line,
endurance races, logging and other outdoor events at a 300-acre
property it owns in Wrightwood area of Los Angeles County.  WGR
also operates a wedding and special event center at a 2.45-acre
property at Wrightwood area.

WGR is 60% owned by Richard and Judy Halllett and 40% owned by GREF
WGR I, LLC, an affiliate of secured creditor GreenLake Real Estate
Fund, LLC.  WGR owns 100% of the interests in Wrightwood Guest
Ranch Holdings, LLC, which in turns owns 100% of the interests in
Wrightwood Canopy Tours, LC.

Being concerned about GreenLake's threat of foreclosure, unsecured
creditors Masterpiece Marketing, Larry Rundle, and Snyder
Dorenfeld, filed an involuntary petition against Wrightwood Guest
Ranch LLC (Bankr. C.D. Cal. Case No. 15-17799) on Aug. 5, 2015.
The Petitioners' counsel is Douglas A Plazak, Esq., at Reid &
Hellyer, APC, in Riverside, California.

The Bankruptcy Court on Aug. 31, 2015, granted Wrightwood Guest
Ranch's request for relief under Chapter 11 and vacated the
Involuntary Petition filed against the Debtor.

The case is assigned to Judge Scott C. Clarkson.

The Debtor tapped Walter & Wilhelm Law Group as bankruptcy counsel;
Hall & Company as accountants; and Baker, Manock & Jensen as
special counsel.

                                            *     *     *

The Debtor filed a proposed Plan and Disclosure Statement on Oct.
26, 2015.  On Dec. 4, 2014, it filed an amended Plan and Disclosure
Statement.  Under the Plan, the Debtor intends to pay unsecured
creditors 100 percent of their allowed claims, together with
interest at a rate of 1.5 percent.  Part of the creditor payments
will be made in semi-annual installments over the course of the
next 60 months; the remainder will be paid "with a balloon payment
due at the end of the sixtieth month following the Effective Date."


WWW STORAGE: 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 WWW Storage, LLC.

WWW Storage, LLC sought protection under Chapter 11 of the
Bankruptcy Code in the U.S. Bankruptcy Court for the Western
District of Washington (Seattle) (Case No. 16-11703) on March 30,
2016. The petition was signed by Chris Kealy, manager/member.

The Debtor is represented by Maria S. Stirbis, Esq., at the Liberty
Law, LLC. The case is assigned to Judge Timothy W. Dore.

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


[*] BakerHostetler to Use ROSS Intelligence for Bankruptcy Team
---------------------------------------------------------------
ROSS Intelligence on May 5 disclosed that AmLaw100 law firm
BakerHostetler has agreed to retain use of ROSS Intelligence's
artificial intelligence legal research product, ROSS. ROSS
Intelligence Co-Founder Andrew Arruda officially announced the
partnership at Vanderbilt Law School's "Watson, Esq." conference in
Nashville, Tennessee in April.  BakerHostetler will license ROSS
for use in its Bankruptcy, Restructuring and Creditors' Rights
team.

The ROSS platform is built upon Watson, IBM's cognitive computer.
With the support of Watson's cognitive computing and natural
language processing capabilities, lawyers ask ROSS their research
question in natural language, as they would a person, then ROSS
reads through the law, gathers evidence, draws inferences and
returns highly relevant, evidence-based candidate answers.  ROSS
also monitors the law around the clock to notify users of new court
decisions that can affect a case.  The program continually learns
from the lawyers who use it to bring back better results each
time.

"At BakerHostetler, we believe that emerging technologies like
cognitive computing and other forms of machine learning can help
enhance the services we deliver to our clients," said Bob Craig,
Chief Information Officer.  "We are proud to team up with
innovators like ROSS and we will continue to explore these
cutting-edge technologies as they develop."

"BakerHostetler's commitment to the future of the legal practice
and ensuring they continue to deliver the highest level of value to
their clients completely aligns with our vision at ROSS
Intelligence," said Andrew Arruda, CEO/Cofounder.  "BakerHostetler
has been using ROSS since the first days of its deployment and we
are proud to partner with a true leader in the industry as we
continue to develop additional AI legal assistants."

About ROSS Intelligence ROSS Intelligence began out of research at
the University of Toronto in 2014 with the goal of building an AI
legal research assistant to allow lawyers to enhance and scale
their abilities.  In June of 2015, after receiving funding from
famed Silicon Valley accelerator Y Combinator, ROSS Intelligence
relocated from Toronto, Canada to Palo Alto, California.  Just ten
months after they began teaching ROSS bankruptcy law, the company
has been commercializing its first offering.  The company is
currently in the process of teaching ROSS a variety of other
practice areas with the aim that every legal practitioner in the
world will have ROSS as a member of their legal team.

                      About BakerHostetler

Celebrating the 100th anniversary of its founding this year,
BakerHostetler -- http://www.bakerlaw.com-- is a national law firm
that helps clients around the world to address their most complex
and critical business and regulatory issues.  With five core
national practice groups -- Business, Employment, Intellectual
Property, Litigation, and Tax -- the firm has more than 940 lawyers
located in 14 offices coast to coast.  BakerHostetler is widely
regarded as having one of the country's top 10 tax practices, a
nationally recognized litigation practice, an award-winning data
privacy practice, and an industry-leading business practice.  The
firm is also recognized internationally for its groundbreaking work
recovering more than $10 billion in the Madoff Recovery Initiative,
representing the SIPA Trustee for the liquidation of Bernard L.
Madoff Investment Securities LLC.


[*] Brian Williams Joins Carl Marks Advisors as Managing Director
-----------------------------------------------------------------
Carl Marks Advisors, a consulting and investment banking advisory
firm to middle market companies, on May 5 disclosed that Brian A.
Williams has joined the firm as managing director, supporting their
investment banking and advisory teams in the oil and gas sector.
Mr. Williams brings 20 years of oil and gas investment banking,
strategic advisory, and operating experience focused on mergers and
acquisitions, public and private capital raises, restructurings,
principal investing and executive management.

"Brian is a tremendous asset to our energy team, and his reputation
and expertise in the oil and gas industry -- particularly in
oilfield services -- is a valuable complement to Carl Marks
Advisors' qualifications and capabilities," said Duff Meyercord,
Managing Partner at the firm.  "Carl Marks Advisors has been
extremely busy in the energy sector over the last several years and
the addition of Brian will help further expand our footprint.  We
are delighted to have him on our team," added
Mr. Meyercord.

Prior to joining Carl Marks Advisors, Brian served as Chief
Financial Officer, Co-founder and Director of Cretic Energy
Services, a provider of leading-edge completion services to oil and
gas producers where he led Cretic through its business plan
development, fund raising, start-up, growth and execution phases.
Previously, Mr. Williams led the oilfield services investment
banking practices at Macquarie Capital and Tristone Capital.

Mr. Williams earned a BS in Industrial Engineering from Rensselaer
Polytechnic Institute and an MBA from Harvard Business School.

                    About Carl Marks Advisors

Carl Marks Advisory Group LLC (Carl Marks Advisors) --
http://www.carlmarksadvisors.com-- a New York-based consulting and
investment banking advisory firm serving middle-market companies,
provides an array of investment banking and operational services,
including mergers and acquisitions advice, sourcing of capital,
financial restructuring plans, strategic business assessments,
improvement plans and interim management.

The award-winning firm received the 2015 ACG New York Champion's
Award for Deal of the Year in Manufacturing; was included in
Turnarounds & Workouts 2015 Outstanding Turnaround Firms, Global
M&A Network 2014 annual listing of the Top 100 Restructuring and
Turnaround Professionals and Turnarounds & Workouts 2014
Outstanding Investment Banking Firms; received the 2013 & 2014
Turnaround Atlas Awards' Middle Market Restructuring Investment
Banker of the Year; 2013 M&A Advisor's Sector Financing Deal of the
Year (Real Estate); the 2013 Turnaround Atlas Awards' Healthcare
Services Turnaround of the Year and Mid Markets Restructuring
Investment Bank of the Year.

Securities are offered through Carl Marks Securities LLC, member
FINRA and SIPC.


[*] Creditsafe Releases Key Metrics on Health of Retail Industry
----------------------------------------------------------------
Creditsafe USA Inc, the world's most used supplier of company
business intelligence, reports that the clothing retailer
AEROPOSTALE INC. registered in New York has filed for Chapter 11
bankruptcy.

AEROPOSTALE, a company in the retail clothing sector, was
incorporated in 1995.  The company has shown an alarming decline in
key financial metrics over the past three years.  Not only has
revenue dropped from $2.4 billion in 2013 to $1.5 billion in 2016,
but the company has gone from being profitable in 2013 (profit
before tax $59 million) to reporting significant losses in 2014
(-$186m), 2015 (-$222m) and 2016 (-$132m).

Matthew Debbage, CEO, Creditsafe USA and Asia stated, "Caution
should be given when granting credit within this sector -- with 30%
of companies in this industry having a high risk credit rating.
This compares unfavorably with the 10% average across all
industries.  There have also been other high profile bankruptcies
in this sector in recent months including The Sports Authority,
PACIFIC SUNWEAR, Cache and Delia's to name a few."

Mr Debbage continued, "According to recent Creditsafe USA research,
currently there are over 49,000 companies engaged in the operation
of the retail clothing industry in the United States, employing
over 3.3 million people.  For 2016, the sector expects to report
total sales in excess $500B."

Key Industry Facts:

49,000 Companies
$500B in Sales
3.3M Employees
30% companies in high risk

                    About The Creditsafe Group

The Creditsafe Group -- http://www.creditsafe.com-- is the world's
most used supplier of company business intelligence, with ten
Creditsafe Group reports downloaded every second.  Privately owned
and independently minded, Creditsafe is looking to change the way
business information is used by providing high-quality data in an
easy to use format that everyone in an organization can benefit
from.

Founded in Norway in 1997, Creditsafe has offices in countries all
over the world including: the UK, Germany, France, Sweden, Ireland,
Italy, Belgium, the Netherlands and the United States. Globally,
Creditsafe employs over 1,200 people and has more than 90,000
subscription customers.  Three years ago, the Creditsafe Group
opened offices in the U.S. under the name Creditsafe, Inc. Its U.S.
operations are headquartered in Allentown, Pa. with another
facility in Phoenix, AZ.

                     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.


[*] Timothy Bennett Joins Seyfarth Shaw as Senior Counsel
---------------------------------------------------------
Seyfarth Shaw LLP disclosed that Timothy C. Bennett has joined its
Corporate Department as Senior Counsel

Mr. Bennett is responsible for managing all aspects of a broad
range of global client transactions, focusing on the distressed,
illiquid and special situations markets, for clients ranging from
boutique brokerages and hedge funds to global investment funds and
the trading desks of international banks.  His recent
representative transactions include the acquisition and sale
(including by way of auction) of bankruptcy claims, terminated
derivative contracts, loan portfolios, restricted stock, interests
in liquidating funds, structured settlements, and LSTA and LMA
trades for bank debt of domestic and foreign borrowers.  He has
experience drafting and negotiating bespoke forms of agreement and
structuring creative settlement solutions for clients to
efficiently close deals and maximize profit while minimizing risk.
He regularly analyzes credit agreements, indentures and related
documentation, bankruptcy case filings, ISDA agreements, and
corporate filings, all in furtherance of advising clients in the
development and implementation of their trading and investment
strategies.  Mr. Bennett also represents financial institutions
active in receivables financing and claim put transactions.
Additionally, Mr. Bennett has experience in general corporate and
finance matters, including corporate governance, M&A, securities
law, and fund formation.

He earned a J.D., cum laude, from Seton Hall University School of
Law, Order of the Coif.  He received a M.B.A. in Finance from the
Seton Hall University Stillman School of Business and a B.A. from
the College of the Holy Cross.


[^] BOND PRICING: For the Week from May 2 to 6, 2016
----------------------------------------------------
  Company                 Ticker    Coupon Bid Price   Maturity
  -------                 ------    ------ ---------   --------
A. M. Castle & Co         CAS       12.750    74.000 12/15/2016
A. M. Castle & Co         CAS        7.000    46.250 12/15/2017
ACE Cash Express Inc      AACE      11.000    48.500   2/1/2019
ACE Cash Express Inc      AACE      11.000    48.500   2/1/2019
Advanta Capital Trust I   ADVNA      8.990     8.000 12/17/2026
Affinion Investments LLC  AFFINI    13.500    43.966  8/15/2018
Alpha Appalachia
  Holdings Inc            ANR        3.250     0.998   8/1/2015
Alpha Natural
  Resources Inc           ANR        6.000     0.458   6/1/2019
Alpha Natural
  Resources Inc           ANR        9.750     0.875  4/15/2018
Alpha Natural
  Resources Inc           ANR        6.250     1.079   6/1/2021
Alpha Natural
  Resources Inc           ANR        3.750     0.875 12/15/2017
Alpha Natural
  Resources Inc           ANR        4.875     0.412 12/15/2020
Alpha Natural
  Resources Inc           ANR        7.500     0.500   8/1/2020
Alpha Natural
  Resources Inc           ANR        7.500     0.475   8/1/2020
Alpha Natural
  Resources Inc           ANR        7.500     0.500   8/1/2020
Alta Mesa Holdings LP /
  Alta Mesa Finance
  Services Corp           ALTMES     9.625    47.750 10/15/2018
American Eagle
  Energy Corp             AMZG      11.000    16.375   9/1/2019
American Eagle
  Energy Corp             AMZG      11.000    16.375   9/1/2019
American Gilsonite Co     AMEGIL    11.500    55.000   9/1/2017
American Gilsonite Co     AMEGIL    11.500    54.750   9/1/2017
Arch Coal Inc             ACI        7.000     1.000  6/15/2019
Arch Coal Inc             ACI        7.250     1.197  10/1/2020
Arch Coal Inc             ACI        7.250     0.875  6/15/2021
Arch Coal Inc             ACI        9.875     0.938  6/15/2019
Arch Coal Inc             ACI        8.000     1.000  1/15/2019
Arch Coal Inc             ACI        8.000     0.488  1/15/2019
Armstrong Energy Inc      ARMS      11.750    42.250 12/15/2019
Armstrong Energy Inc      ARMS      11.750    41.625 12/15/2019
Aspect Software Inc       ASPECT    10.625    63.000  5/15/2017
Aspect Software Inc       ASPECT    10.625    62.875  5/15/2017
Aspect Software Inc       ASPECT    10.625    62.875  5/15/2017
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp            ARP        7.750    15.145  1/15/2021
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp            ARP        9.250    17.949  8/15/2021
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp            ARP        9.250    15.250  8/15/2021
Atlas Energy Holdings
  Operating Co LLC /
  Atlas Resource
  Finance Corp            ARP        9.250    15.250  8/15/2021
Avaya Inc                 AVYA      10.500    24.750   3/1/2021
Avaya Inc                 AVYA      10.500    27.000   3/1/2021
BPZ Resources Inc         BPZR       6.500     5.000   3/1/2015
BPZ Resources Inc         BPZR       6.500     2.659   3/1/2049
Basic Energy
  Services Inc            BAS        7.750    34.125  2/15/2019
Berry Petroleum Co LLC    LINE       6.375    24.500  9/15/2022
Berry Petroleum Co LLC    LINE       6.750    19.250  11/1/2020
BreitBurn Energy
  Partners LP /
  BreitBurn Finance Corp  BBEP       8.625     9.000 10/15/2020
BreitBurn Energy
  Partners LP /
  BreitBurn Finance Corp  BBEP       7.875     7.625  4/15/2022
BreitBurn Energy
  Partners LP /
  BreitBurn Finance Corp  BBEP       8.625     7.375 10/15/2020
BreitBurn Energy
  Partners LP /
  BreitBurn Finance Corp  BBEP       8.625     7.375 10/15/2020
Caesars Entertainment
  Operating Co Inc        CZR       10.000    44.000 12/15/2018
Caesars Entertainment
  Operating Co Inc        CZR       12.750    39.000  4/15/2018
Caesars Entertainment
  Operating Co Inc        CZR       10.000    41.000 12/15/2018
Caesars Entertainment
  Operating Co Inc        CZR        5.750    38.250  10/1/2017
Caesars Entertainment
  Operating Co Inc        CZR       10.000    43.500 12/15/2018
Caesars Entertainment
  Operating Co Inc        CZR       10.000    43.500 12/15/2018
Caesars Entertainment
  Operating Co Inc        CZR       10.000    43.250 12/15/2018
Caesars Entertainment
  Operating Co Inc        CZR        5.750    12.250  10/1/2017
Cenveo Corp               CVO       11.500    56.000  5/15/2017
Cenveo Corp               CVO        7.000    41.625  5/15/2017
Chaparral Energy Inc      CHAPAR     7.625    32.000 11/15/2022
Chaparral Energy Inc      CHAPAR     9.875    19.125  10/1/2020
Chaparral Energy Inc      CHAPAR     8.250    19.125   9/1/2021
Chassix Holdings Inc      CHASSX    10.000     8.000 12/15/2018
Chassix Holdings Inc      CHASSX    10.000     8.000 12/15/2018
Claire's Stores Inc       CLE        8.875    30.000  3/15/2019
Claire's Stores Inc       CLE       10.500    56.870   6/1/2017
Claire's Stores Inc       CLE        7.750    20.500   6/1/2020
Claire's Stores Inc       CLE        7.750    21.375   6/1/2020
Clean Energy Fuels Corp   CLNE       7.500    86.547  8/30/2016
Community Choice
  Financial Inc           CCFI      10.750    45.750   5/1/2019
Comstock Resources Inc    CRK        7.750    16.034   4/1/2019
Comstock Resources Inc    CRK        9.500    15.750  6/15/2020
Creditcorp                CRECOR    12.000    52.000  7/15/2018
Creditcorp                CRECOR    12.000    52.000  7/15/2018
Cumulus Media
  Holdings Inc            CMLS       7.750    44.805   5/1/2019
EPL Oil & Gas Inc         EXXI       8.250     7.500  2/15/2018
EV Energy Partners LP /
  EV Energy Finance Corp  EVEP       8.000    49.740  4/15/2019
EXCO Resources Inc        XCO        8.500    24.000  4/15/2022
EXCO Resources Inc        XCO        7.500    40.346  9/15/2018
Eagle Rock Energy
  Partners LP / Eagle
  Rock Energy
  Finance Corp            EROC       8.375    16.750   6/1/2019
Emerald Oil Inc           EOX        2.000     2.000   4/1/2019
Endeavour
  International Corp      END       12.000     1.017   3/1/2018
Endeavour
  International Corp      END       12.000     1.017   3/1/2018
Energy & Exploration
  Partners Inc            ENEXPR     8.000     1.970   7/1/2019
Energy & Exploration
  Partners Inc            ENEXPR     8.000     1.970   7/1/2019
Energy Conversion
  Devices Inc             ENER       3.000     7.875  6/15/2013
Energy Future
  Holdings Corp           TXU        9.750    20.000 10/15/2019
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc             TXU       10.000     3.000  12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc             TXU       10.000     3.000  12/1/2020
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc             TXU        9.750    20.000 10/15/2019
Energy Future
  Intermediate Holding
  Co LLC / EFIH
  Finance Inc             TXU        6.875     2.815  8/15/2017
Energy XXI Gulf
  Coast Inc               EXXI      11.000    37.250  3/15/2020
Energy XXI Gulf
  Coast Inc               EXXI       9.250     4.000 12/15/2017
Energy XXI Gulf
  Coast Inc               EXXI       7.500     4.750 12/15/2021
Energy XXI Gulf
  Coast Inc               EXXI       6.875     4.750  3/15/2024
Energy XXI Gulf
  Coast Inc               EXXI       7.750     4.500  6/15/2019
FBOP Corp                 FBOPCP    10.000     1.843  1/15/2009
FTS International Inc     FTSINT     6.250    16.420   5/1/2022
FairPoint
  Communications
  Inc/Old                 FRP       13.125     1.879   4/2/2018
Federal Farm
  Credit Banks            FFCB       3.200    99.900  4/24/2030
Federal Farm
  Credit Banks            FFCB       1.420   100.000  4/29/2019
Federal Farm
  Credit Banks            FFCB       3.000    99.850  9/13/2027
Federal Farm
  Credit Banks            FFCB       2.970   100.000  4/20/2026
Federal Farm
  Credit Banks            FFCB       2.950   100.000  9/10/2027
Federal Home Loan
  Mortgage Corp           FHLMC      0.900    99.749  8/11/2017
Federal Home Loan
  Mortgage Corp           FHLMC      1.500   100.100  8/12/2019
Federal Home Loan
  Mortgage Corp           FHLMC      0.520   100.000 11/10/2016
Federal Home Loan
  Mortgage Corp           FHLMC      1.500   100.004 11/12/2019
Federal Home Loan
  Mortgage Corp           FHLMC      1.300   100.003  2/12/2019
Federal Home Loan
  Mortgage Corp           FHLMC      1.150    99.375  5/13/2019
Federal Home Loan
  Mortgage Corp           FHLMC      1.650   100.005  5/12/2020
Federal Home Loan
  Mortgage Corp           FHLMC      1.350    99.802  2/12/2019
Federal Home Loan
  Mortgage Corp           FHLMC      1.100    99.720  2/12/2018
Federal National
  Mortgage Association    FNMA       2.300    99.912 11/14/2022
Federal National
  Mortgage Association    FNMA       3.000    99.925 11/15/2027
Federal National
  Mortgage Association    FNMA       3.000   100.080 11/15/2027
Federal National
  Mortgage Association    FNMA       2.250    99.949 11/15/2022
Federal National
  Mortgage Association    FNMA       2.300   100.003 11/15/2022
Federal National
  Mortgage Association    FNMA       3.050   100.000 11/15/2027
Federal National
  Mortgage Association    FNMA       2.250    99.844 11/15/2022
Fleetwood
  Enterprises Inc         FLTW      14.000     3.557 12/15/2011
Forbes Energy
  Services Ltd            FES        9.000    45.550  6/15/2019
GEO Group Inc/The         GEO        6.625   103.720  2/15/2021
Gibson Brands Inc         GIBSON     8.875    56.000   8/1/2018
Gibson Brands Inc         GIBSON     8.875    59.000   8/1/2018
Gibson Brands Inc         GIBSON     8.875    64.050   8/1/2018
Goodman Networks Inc      GOODNT    12.125    49.531   7/1/2018
Goodrich Petroleum Corp   GDPM       8.875     4.875  3/15/2018
Goodrich Petroleum Corp   GDPM       8.875     0.583  3/15/2018
Gymboree Corp/The         GYMB       9.125    50.825  12/1/2018
Halcon Resources Corp     HKUS       9.750    21.136  7/15/2020
Halcon Resources Corp     HKUS      13.000    31.000  2/15/2022
Halcon Resources Corp     HKUS       8.875    24.181  5/15/2021
Halcon Resources Corp     HKUS       9.250    21.750  2/15/2022
Halcon Resources Corp     HKUS      13.000    36.000  2/15/2022
Hexion Inc                HXN        9.200    42.500  3/15/2021
Horsehead Holding Corp    ZINC       3.800     4.000   7/1/2017
Horsehead Holding Corp    ZINC      10.500    55.500   6/1/2017
Horsehead Holding Corp    ZINC       9.000    20.000   6/1/2017
Horsehead Holding Corp    ZINC      10.500    55.500   6/1/2017
Horsehead Holding Corp    ZINC      10.500    55.500   6/1/2017
ION Geophysical Corp      IO         8.125    55.250  5/15/2018
Illinois Power
  Generating Co           DYN        7.000    41.750  4/15/2018
International Lease
  Finance Corp            AER        5.750   100.000  5/15/2016
Iracore International
  Holdings Inc            IRACOR     9.500    58.511   6/1/2018
Iracore International
  Holdings Inc            IRACOR     9.500    58.511   6/1/2018
IronGate Energy
  Services LLC            IRONGT    11.000    25.000   7/1/2018
IronGate Energy
  Services LLC            IRONGT    11.000    24.500   7/1/2018
IronGate Energy
  Services LLC            IRONGT    11.000    24.500   7/1/2018
IronGate Energy
  Services LLC            IRONGT    11.000    24.500   7/1/2018
Key Energy Services Inc   KEG        6.750    24.550   3/1/2021
Las Vegas Monorail Co     LASVMC     5.500     3.125  7/15/2019
Legacy Reserves LP /
  Legacy Reserves
  Finance Corp            LGCY       8.000    33.489  12/1/2020
Lehman Brothers
  Holdings Inc            LEH        4.000     4.753  4/30/2009
Lehman Brothers
  Holdings Inc            LEH        5.000     4.753   2/7/2009
Lehman Brothers
  Holdings Inc            LEH        2.000     4.753   3/3/2009
Lehman Brothers
  Holdings Inc            LEH        2.070     4.753  6/15/2009
Lehman Brothers Inc       LEH        7.500     1.226   8/1/2026
Liberty Interactive LLC   LINTA      1.000    87.050  9/30/2043
Linc USA GP /
  Linc Energy
  Finance USA Inc         LNCAU      9.625    18.125 10/31/2017
Linn Energy LLC /
  Linn Energy
  Finance Corp            LINE       8.625    10.250  4/15/2020
Linn Energy LLC /
  Linn Energy
  Finance Corp            LINE       6.500     9.040  5/15/2019
Linn Energy LLC /
  Linn Energy
  Finance Corp            LINE       7.750     8.500   2/1/2021
Linn Energy LLC /
  Linn Energy
  Finance Corp            LINE       6.250     9.500  11/1/2019
Linn Energy LLC /
  Linn Energy
  Finance Corp            LINE       6.500     8.330  9/15/2021
Linn Energy LLC /
  Linn Energy
  Finance Corp            LINE      12.000    20.250 12/15/2020
Linn Energy LLC /
  Linn Energy
  Finance Corp            LINE       6.250    84.000  11/1/2019
Linn Energy LLC /
  Linn Energy
  Finance Corp            LINE       6.250    10.875  11/1/2019
Logan's Roadhouse Inc     LGNS      10.750    14.900 10/15/2017
MBIA Insurance Corp       MBI       11.888    30.000  1/15/2033
MBIA Insurance Corp       MBI       11.888    24.500  1/15/2033
MF Global Holdings Ltd    MF         3.375    23.500   8/1/2018
MF Global Holdings Ltd    MF         9.000    23.500  6/20/2038
MModal Inc                MODL      10.750    10.125  8/15/2020
Magnetation LLC /
  Mag Finance Corp        MAGNTN    11.000    20.000  5/15/2018
Magnetation LLC /
  Mag Finance Corp        MAGNTN    11.000     8.000  5/15/2018
Magnetation LLC /
  Mag Finance Corp        MAGNTN    11.000     8.000  5/15/2018
Magnum Hunter
  Resources Corp          MHRC       9.750    25.750  5/15/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC        MPO       10.750     2.250  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC        MPO        9.250     1.000   6/1/2021
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC        MPO       12.000     9.000   6/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC        MPO       10.750    96.250  10/1/2020
Midstates Petroleum
  Co Inc / Midstates
  Petroleum Co LLC        MPO       10.750     2.248  10/1/2020
Modular Space Corp        MODSPA    10.250    51.750  1/31/2019
Modular Space Corp        MODSPA    10.250    51.375  1/31/2019
Molycorp Inc              MCP       10.000     7.000   6/1/2020
Murray Energy Corp        MURREN    11.250    17.750  4/15/2021
Murray Energy Corp        MURREN    11.250    19.000  4/15/2021
Murray Energy Corp        MURREN     9.500    18.625  12/5/2020
Murray Energy Corp        MURREN     9.500    18.625  12/5/2020
New Gulf Resources LLC/
  NGR Finance Corp        NGREFN    12.250    22.000  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp        NGREFN    12.250    29.000  5/15/2019
New Gulf Resources LLC/
  NGR Finance Corp        NGREFN    12.250    22.750  5/15/2019
Nine West Holdings Inc    JNY        8.250    28.000  3/15/2019
Nine West Holdings Inc    JNY        6.125    16.190 11/15/2034
Nine West Holdings Inc    JNY        6.875    19.050  3/15/2019
Nine West Holdings Inc    JNY        8.250    26.375  3/15/2019
Nuverra Environmental
  Solutions Inc           NESC       9.875    31.000  4/15/2018
OMX Timber Finance
  Investments II LLC      OMX        5.540    13.125  1/29/2020
OnCure Holdings Inc       RTSX      11.750    80.000  1/15/2017
Optima Specialty
  Steel Inc               OPTSTL    12.500    78.125 12/15/2016
Optima Specialty
  Steel Inc               OPTSTL    12.500    78.000 12/15/2016
Peabody Energy Corp       BTU        6.000    10.448 11/15/2018
Peabody Energy Corp       BTU        6.500    10.500  9/15/2020
Peabody Energy Corp       BTU       10.000    11.750  3/15/2022
Peabody Energy Corp       BTU        6.250    10.770 11/15/2021
Peabody Energy Corp       BTU        4.750     0.850 12/15/2041
Peabody Energy Corp       BTU        7.875    12.000  11/1/2026
Peabody Energy Corp       BTU       10.000    14.400  3/15/2022
Peabody Energy Corp       BTU        6.000    11.000 11/15/2018
Peabody Energy Corp       BTU        6.000    11.000 11/15/2018
Peabody Energy Corp       BTU        6.250    11.000 11/15/2021
Peabody Energy Corp       BTU        6.250    11.000 11/15/2021
Penn Virginia Corp        PVAH       7.250    15.700  4/15/2019
Penn Virginia Corp        PVAH       8.500    20.250   5/1/2020
Permian Holdings Inc      PRMIAN    10.500    38.625  1/15/2018
Permian Holdings Inc      PRMIAN    10.500    38.625  1/15/2018
Pernix Therapeutics
  Holdings Inc            PTX        4.250    19.000   4/1/2021
Pernix Therapeutics
  Holdings Inc            PTX        4.250    16.526   4/1/2021
PetroQuest Energy Inc     PQ        10.000    50.000   9/1/2017
Prospect Holding
  Co LLC / Prospect
  Holding Finance Co      PRSPCT    10.250    34.750  10/1/2018
Prospect Holding
  Co LLC / Prospect
  Holding Finance Co      PRSPCT    10.250    34.736  10/1/2018
Quicksilver
  Resources Inc           KWKA       9.125     2.125  8/15/2019
Quicksilver
  Resources Inc           KWKA      11.000     2.500   7/1/2021
Resolute Energy Corp      REN        8.500    38.250   5/1/2020
Rex Energy Corp           REXX       8.875    18.080  12/1/2020
Rex Energy Corp           REXX       6.250    10.000   8/1/2022
River Rock
  Entertainment
  Authority               RIVER      9.000    13.000  11/1/2018
Rolta LLC                 RLTAIN    10.750    53.625  5/16/2018
SFX Entertainment Inc     SFXE       9.625     2.000   2/1/2019
SFX Entertainment Inc     SFXE       9.625     2.000   2/1/2019
SFX Entertainment Inc     SFXE       9.625     2.000   2/1/2019
SFX Entertainment Inc     SFXE       9.625     2.000   2/1/2019
Sabine Oil & Gas Corp     SOGC       7.250     1.500  6/15/2019
Sabine Oil & Gas Corp     SOGC       7.500     1.375  9/15/2020
Sabine Oil & Gas Corp     SOGC       7.500     1.022  9/15/2020
Sabine Oil & Gas Corp     SOGC       7.500     1.022  9/15/2020
Samson Investment Co      SAIVST     9.750     0.875  2/15/2020
SandRidge Energy Inc      SD         8.750    33.000   6/1/2020
SandRidge Energy Inc      SD         8.750     5.750  1/15/2020
SandRidge Energy Inc      SD         8.125     5.900 10/15/2022
SandRidge Energy Inc      SD         7.500     5.500  3/15/2021
SandRidge Energy Inc      SD         7.500     6.000  2/15/2023
SandRidge Energy Inc      SD         8.750    30.000   6/1/2020
SandRidge Energy Inc      SD         8.125     5.875 10/16/2022
SandRidge Energy Inc      SD         7.500     5.875  2/16/2023
SandRidge Energy Inc      SD         7.500     5.625  3/15/2021
SandRidge Energy Inc      SD         7.500     5.625  3/15/2021
Sequa Corp                SQA        7.000    15.000 12/15/2017
Sequa Corp                SQA        7.000    14.375 12/15/2017
Sequenom Inc              SQNM       5.000    65.250   1/1/2018
Seventy Seven Energy Inc  SSE        6.500     2.250  7/15/2022
Seventy Seven
  Operating LLC           SSE        6.625    41.625 11/15/2019
Seventy Seven
  Operating LLC           SSE        6.625    35.700 11/15/2019
Seventy Seven
  Operating LLC           SSE        6.625    28.500 11/15/2019
Sidewinder Drilling Inc   SIDDRI     9.750     6.000 11/15/2019
Sidewinder Drilling Inc   SIDDRI     9.750     5.875 11/15/2019
Solazyme Inc              SZYM       6.000    52.000   2/1/2018
Speedy Group
  Holdings Corp           SPEEDY    12.000    45.750 11/15/2017
Speedy Group
  Holdings Corp           SPEEDY    12.000    45.750 11/15/2017
SquareTwo Financial Corp  SQRTW     11.625    16.600   4/1/2017
Stone Energy Corp         SGY        7.500    24.750 11/15/2022
Stone Energy Corp         SGY        1.750    26.000   3/1/2017
SunEdison Inc             SUNE       2.000     5.250  10/1/2018
SunEdison Inc             SUNE       5.000    22.000   7/2/2018
SunEdison Inc             SUNE       0.250     5.125  1/15/2020
SunEdison Inc             SUNE       2.750     5.250   1/1/2021
SunEdison Inc             SUNE       2.375     5.125  4/15/2022
SunEdison Inc             SUNE       3.375     5.250   6/1/2025
SunEdison Inc             SUNE       2.625     4.750   6/1/2023
Swift Energy Co/Texas     SFY        7.875     4.500   3/1/2022
Swift Energy Co/Texas     SFY        7.125     6.630   6/1/2017
Swift Energy Co/Texas     SFY        8.875     5.500  1/15/2020
Syniverse Holdings Inc    SVR        9.125    50.967  1/15/2019
TMST Inc                  THMR       8.000    14.000  5/15/2013
Talen Energy Supply LLC   TLN        6.200   100.000  5/15/2016
Talos Production LLC /
  Talos Production
  Finance Inc             TALPRO     9.750    31.000  2/15/2018
Talos Production LLC /
  Talos Production
  Finance Inc             TALPRO     9.750    31.250  2/15/2018
Terrestar Networks Inc    TSTR       6.500    10.000  6/15/2014
TetraLogic
  Pharmaceuticals Corp    TLOG       8.000    24.622  6/15/2019
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc             TXU       10.250     6.125  11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc             TXU       11.500    32.000  10/1/2020
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc             TXU       15.000     6.125   4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc             TXU       10.250     6.100  11/1/2015
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc             TXU       15.000     4.625   4/1/2021
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc             TXU       11.500    30.750  10/1/2020
Texas Competitive
  Electric Holdings
  Co LLC / TCEH
  Finance Inc             TXU       10.250     5.750  11/1/2015
Triangle USA
  Petroleum Corp          TPLM       6.750    18.000  7/15/2022
Triangle USA
  Petroleum Corp          TPLM       6.750    18.250  7/15/2022
UCI International LLC     UCII       8.625    28.750  2/15/2019
Vanguard Natural
  Resources LLC /
  VNR Finance Corp        VNR        7.875    20.000   4/1/2020
Venoco Inc                VQ         8.875     1.500  2/15/2019
Verso Paper
  Holdings LLC /
  Verso Paper Inc         VRS       11.750    10.830  1/15/2019
Verso Paper
  Holdings LLC /
  Verso Paper Inc         VRS       11.750    17.000  1/15/2019
Verso Paper
  Holdings LLC /
  Verso Paper Inc         VRS       11.750     0.993  1/15/2019
Verso Paper
  Holdings LLC /
  Verso Paper Inc         VRS       11.750    16.875  1/15/2019
Verso Paper
  Holdings LLC /
  Verso Paper Inc         VRS       11.750     1.272  1/15/2019
Verso Paper
  Holdings LLC /
  Verso Paper Inc         VRS       11.750     1.272  1/15/2019
Verso Paper
  Holdings LLC /
  Verso Paper Inc         VRS       11.750    16.875  1/15/2019
Violin Memory Inc         VMEM       4.250    29.196  10/1/2019
W&T Offshore Inc          WTI        8.500    18.500  6/15/2019
Walter Energy Inc         WLTG       9.500    13.000 10/15/2019
Walter Energy Inc         WLTG       8.500     0.010  4/15/2021
Walter Energy Inc         WLTG       9.500    14.125 10/15/2019
Walter Energy Inc         WLTG       9.500    14.125 10/15/2019
Walter Energy Inc         WLTG       9.500    14.125 10/15/2019
Warren Resources Inc      WRES       9.000     2.097   8/1/2022
Warren Resources Inc      WRES       9.000     2.097   8/1/2022
Warren Resources Inc      WRES       9.000     2.097   8/1/2022
iHeartCommunications Inc  IHRT      10.000    43.000  1/15/2018
iHeartCommunications Inc  IHRT       6.875    58.101  6/15/2018


                            *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled.  Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets.  A company may establish reserves on its balance sheet for
liabilities that may never materialize.  The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.

On Thursdays, the TCR delivers a list of recently filed
Chapter 11 cases involving less than $1,000,000 in assets and
liabilities delivered to nation's bankruptcy courts.  The list
includes links to freely downloadable images of these small-dollar
petitions in Acrobat PDF format.

Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals.  All titles are
available at your local bookstore or through Amazon.com.  Go to
http://www.bankrupt.com/books/to order any title today.

Monthly Operating Reports are summarized in every Saturday edition
of the TCR.

The Sunday TCR delivers securitization rating news from the week
then-ending.

                            *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Washington, D.C., USA.  
Jhonas Dampog, Marites Claro, Joy Agravante, Rousel Elaine
Tumanda, Valerie Udtuhan, Howard C. Tolentino, Carmel Paderog,
Meriam Fernandez, Joel Anthony G. Lopez, Cecil R. Villacampa,
Sheryl Joy P. Olano, Psyche A. Castillon, Ivy B. Magdadaro, Carlo
Fernandez, Christopher G. Patalinghug, and Peter A. Chapman,
Editors.

Copyright 2016.  All rights reserved.  ISSN: 1520-9474.

This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.  Information contained
herein is obtained from sources believed to be reliable, but is
not guaranteed.

The TCR subscription rate is $975 for 6 months delivered via
e-mail.  Additional e-mail subscriptions for members of the same
firm for the term of the initial subscription or balance thereof
are $25 each.  For subscription information, contact Peter A.
Chapman at 215-945-7000 or Nina Novak at 202-362-8552.

                   *** End of Transmission ***