TCR_Public/160510.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

              Tuesday, May 10, 2016, Vol. 20, No. 131

                            Headlines

11 EAST 36TH: Expungement of Guthrie's Proofs of Claims Affirmed
201 NORTH GEORGE: Court Partially Dismisses Suit vs. Neil Sullivan
ABENGOA BIOENERGY: Drops Bid to Hire Alvarez & Marsal
ABENGOA BIONENERGY: Committee Hires FTI as Fin'l Advisor
ABENGOA BIONENERGY: Committee Hires Hogan Lovells as Counsel

ABENGOA BIONENERGY: Committee Hires Thompson as Local Counsel
ADELPHIA COMMUNICATIONS: Extends Exchange Offers Until May 12
ADI LIQUIDATION: Deadline to Remove Suits Extended to Aug. 1
AFFORDABLE MED: Granted Leave to Revise Advisor Engagement Letter
ALLIED SYSTEMS: Order Granting Summary Judgment to BD/S Affirmed

ALLY FINANCIAL: Stephen Feinberg Reports Less Than 5% Stake
ALPHA NATURAL: Can Terminate Labor, Retiree Obligations
AMERICAN EAGLE: Cash Collateral Budget Period Extended to July 30
AMERICAN HOSPICE: Court Allows Up to $500K in DIP Financing
ANTERRA ENERGY: Obtains Creditor Protection Under CCAA

BEAR CREEK: Voluntary Chapter 11 Case Summary
BIG DRIVE CATTLE: Transfers to C. Knisley Voidable, Court Rules
BIOBASED LLC: Summary Judgment Favoring Hunt, et al., Affirmed
BIOLIFE SOLUTIONS: Appoints Roderick de Greef CFO
BOWERS INVESTMENT: Case Summary & 14 Unsecured Creditors

CAESARS ENTERTAINMENT: Appoints Chief Restructuring Officer
CAESARS ENTERTAINMENT: Reports Financial Results for 1st Qtr. 2016
CARLBROOK SCHOOL: Bankruptcy Judge Approves Sale of Property
CCNG ENERGY: Trinity Environmental Acquires Assets & Operations
CENTRAL STATES PENSION: U.S. Treasury Denies Pension Rescue Plan

CHAPARRAL ENERGY: Case Summary & 30 Largest Unsecured Creditors
CHAPARRAL ENERGY: Files Voluntary Chapter 11 Bankruptcy Petition
CHC GROUP: Bankruptcy Court Approves First Day Motions
CHC GROUP: Meeting to Form Creditors' Panel Set for May 13
CHC GROUP: Receives Preliminary Access to Cash

CINQUE TERRE: Seeking U.S. Recognition of BVI Liquidation
COMBIMATRIX CORP: Reports First Quarter 2016 Financial Results
CROWN MEDIA: Hallmark Cards Owns 100% of Class A Shares
CROWN MEDIA: Shares Delisted from NASDAQ
DEERFIELD REAL ESTATE: Case Summary & 5 Unsecured Creditors

DORAL FINANCIAL: Hires Garden City as Administrative Agent
DPF LEASING: Case Summary & 9 Unsecured Creditors
DUNMORE HOMES: Court Partially Junks Suit vs. NACIC
ECLIPSE AVIATION: Summary Judgment in WARN Act Suit Affirmed
ECLIPSE AVIATION: Trustee Wins $725K Judgment vs. Prudential

ELITE PHARMACEUTICALS: Appoints Davis Caskey as Director
EMERALD OIL: Hires Donlin Recano as Administrative Advisor
EMERALD OIL: Hires Kirkland & Eliis as Attorneys
EMERALD OIL: Hires Opportune as Crisis Managers and CRO
EMERALD OIL: Taps Pachulski Stang as Co- and Conflicts Counsel

EMPIRE RESORTS: Incurs $5.21 Million Net Loss in First Quarter
ETIENNE ESTATES: Court Fixes JJAM's Claim at $2.7-Mil.
EXELIXIS INC: Incurs $61.3 Million Net Loss in First Quarter
FAIRMOUNT SANTROL: S&P Lowers Corporate Credit Rating to 'SD'
GARLOCK SEALING: Files Supplement on RBH's Employment as Counsel

GAS-MART: Court Approves UMB Bank Stipulation
GREAT PLAINS REGIONAL: Fitch Puts BB Bonds Rating on Neg. Watch
GTT COMMUNICATIONS: S&P Affirms 'B+' Rating on Sec. Loan Due 2022
HARRINGTON & KING SOUTH: Case Summary & 20 Top Unsecured Creditors
HARRINGTON & KING: Case Summary & 20 Largest Unsecured Creditors

HIGH RIDGE MANAGEMENT: Hires Qbix as Accountants
HUNTS POINT TROPICAL: Bid to Dismiss C and J Suit Dismissed
INNER CITY PROPERTIES: Court Disallows Linda Hines' $1.2MM Claim
INSTITUTO MEDICO: Hires FPV as External Auditor
INTERPARK INVESTORS: Court Approves CBRE as Catalpa Estate Broker

JUMIO INC: Reaches Asset Purchase Agreement with Centana
KEMET CORP: Hikes BofA Credit Facility to $65 Million
KENTUCKIANA HEALTHCARE: PRN Suit Remanded to State Court
KNH AVIATION: Bid to Dismiss Suit vs. Michael Hill, et al., Denied
LEGAL CREDIT: Case Summary & 20 Largest Unsecured Creditors

LEGEND INTERNATIONAL: Case Summary & 20 Top Unsecured Creditors
MAGNUM HUNTER: Reorganization Plan Takes Effect, Exits Chapter 11
MARINA BIOTECH: Cancels Talks on Sale of Therapeutic Assets
MARINA BIOTECH: To Acquire Late-Stage Program from Turing
MCCLATCHY CO: Incurs $12.7 Million Net Loss in First Quarter

MCK MILLENNIUM: Golding & Kraft Don't Need Retainers, Lender Says
MCK MILLENNIUM: Hires Golding Law Offices as Counsel
MCK MILLENNIUM: Hires Kraft as Real Estate Counsel
MICHAEL AZIZ: Abbas Corp. Wins Bid for Summary Judgment
MIDWAY GOLD: GRP Minerals Designated as Stalking Horse Bidder

NATIONAL CINEMEDIA: Incurs $4.3 Million Net Loss in First Quarter
NATIONAL CINEMEDIA: Reports Results for Fiscal First Quarter 2016
NATIONAL CINEMEDIA: Stockholders Elect 3 Directors
NET ELEMENT: Amends Loan Agreement with RBL Capital
NOVA CHEMICALS: S&P Affirms 'BB+' CCR, Outlook Stable

OFFSHORE DRILLING: Fitch Lowers IDRs to B-, Outlook Negative
PENN PRODUCTS: S&P Revises Outlook to Neg. & Affirms 'BB-' ICR
PHILADELPHIA ENTERTAINMENT: Suit vs. Pa. Revenue Dept. Dismissed
PICO HOLDINGS: Activist Bloggers Criticize Hart Compensation
PIONEER ENERGY: Wells Fargo Resigns as Indenture Trustee

PIONEER HEALTH: Committee Hires Arnall Golden Gregory as Counsel
PIONEER HEALTH: Creditors' Panel Hires Brunini as Co-Counsel
PUERTO RICO: Lew, Lawmakers Intensity Bill Push After Default
PURADYN FILTER: Ships $300K Worth of Filter Systems to Middle East
QUANTUM FUEL: Panel Taps Armory Consulting as Financial Advisor

RAILYARD COMPANY: Ch.11 Trustee Hires Hunt & Davis as Counsel
RAILYARD COMPANY: Ch.11 Trustee Hires Johnson as Accountant
REDONDO CONSTRUCTION: Court Sets Aside August 23 Status Conference
RGL RESERVOIR: S&P Lowers Corporate Credit Rating to 'SD'
S-3 PUMP SERVICE: Hires Robert King as Business Valuation Expert

S-3 PUMP SERVICE: Hires Superior Asset as Appraiser
SABINE OIL: Seeks Judge's Blessing for New Pipeline Contract
SDI SOLUTIONS: Creditors' Panel Hires Arent Fox as Co-counsel
SDI SOLUTIONS: Creditors' Panel Taps Womble Carlyle as Co-counsel
SDI SOLUTIONS: Panel Hires EisnerAmper as Financial Advisor

SEMLER SCIENTIFIC: Reports $1 Million Net Loss for First Quarter
SH 130 CONCESSION: Asks Judge to Extend Deadline to Remove Suits
SHOOT THE MOON: Court Orders Trustee to Pay $83K to Prime A
SKYBRIDGE SPECTRUM: 341 Meeting of Creditors Set for May 17
SOUTHCROSS ENERGY: EIG BBTS Holdings Holds 66.3% Common Units

SOUTHCROSS ENERGY: Southcross Holdings, et al., File 13D/A
SOUTHCROSS ENERGY: TW Southcross Files Schedule 13D/A with SEC
SPORTS AUTHORITY: Wilmington Savings Fund Society Wants Protection
SRT SOLUTIONS: Must Pay 1100 Nasa Road's Admin. Claim for Rents
STC INC: Court Overrules GTT's Objection to Plan Confirmation

STEWARD HEALTH: S&P Affirms 'B-' CCR & Revises Outlook to Positive
TA CHUAN: Case Summary & 5 Unsecured Creditors
THERAPEUTICSMD INC: Files Copy of Investor Presentation with SEC
THQ INC: Court Junks Preference Suit vs. Starcom
TOWN SPORTS: S&P Affirms 'CCC+' CCR, Outlook Negative

TOWNSIDE CONSTRUCTION: Case Summary & 12 Unsecured Creditors
TRAVELPORT WORLDWIDE: Posts $17 Million Net Income for 1st Quarter
TRIBUNE MEDIA: WTC's Appeal Goes to Third Circuit
TRIUMPH GROUP: S&P Lowers Rating to 'BB-', Outlook Stable
TRUSTEES OF CONNEAUT LAKE: Court Refuses to Stay Insurance Ruling

U.S. STEEL: Fitch Assigns BB Rating on New $8.37% Secured Notes
VANGUARD HEALTHCARE: Hires BMC Group as Noticing Agent
VANGUARD HEALTHCARE: Seeks Joint Administration of Cases
VANGUARD HEALTHCARE: Voluntary Chapter 11 Case Summary
VANGUARD HEALTHCARE: Wants to Use Cash Collateral of Capital One

VERSO CORP: Ch. 11 Plan Goes to June 23 Confirmation Hearing
VISUALANT INC: Files Amended Resale Prospectus with SEC
WILTON HOLDINGS: S&P Lowers CCR to 'CCC', Outlook Negative
WORLD IMPORTS: Unwaived Maritime Liens Enforceable, 3rd Cir. Says
[*] Moody's: US Corporate Defaults Rise Since 2009 in Q1 2016

[^] Large Companies with Insolvent Balance Sheet

                            *********

11 EAST 36TH: Expungement of Guthrie's Proofs of Claims Affirmed
----------------------------------------------------------------
Victoria Guthrie appeals a decision issued on January 29, 2015 by
the United States Bankruptcy Court for the Southern District of New
York, expunging two proofs of claim filed by Guthrie against 11
East 36th Street, LLC and Morgan Lofts, LLC.

In August 2013, Guthrie filed proofs of claim in the Bankrtupcy
Court against Appellees, based on the Morgan Fund's promissory
note. The Bankruptcy Court issued a decision on January 29, 2015
expunging the proofs of claim on the basis that: (1) the pledge
agreement did not give Guthrie a lien on the real property owned by
Morgan Lofts; and (2) Guthrie's lien on 11 East 36th Street's
interest in Morgan Lofts was unperfected due to Guthrie's defective
UCC-1 filing and therefore subject to avoidance under 11 U.S.C.
544(a). The Bankruptcy Court also rejected Guthrie's veil piercing
claim.

Judge Analisa Torres of the United States District Court for the
Southern District of New York affirmed the Bankruptcy Court's
decision.

A full-text copy of the Memorandum and Order dated March 21, 2016
is available at http://is.gd/dZsEGvfrom Leagle.com.

The case is In re: 11 EAST 36TH LLC, et al., Debtors. VICTORIA
GUTHRIE, Appellant, v. 11 EAST 36TH, LLC, et al., Appellees, Case
No. 13-11506 (REG), No. 15 Civ. 1541 (AT)(S.D.N.Y.).

11 EAST 36th, LLC, In Re, is represented by Julie Anna Cvek,  Esq.
-- jcvek@ddw-law.com -- Delbello, Donnellan, Weingarten, Wise &
Wiederkehr, LLP.

11 EAST 36th, LLC, Debtor, is represented by Julie Anna Cvek,
Delbello, Donnellan, Weingarten, Wise & Wiederkehr, LLP.

Victoria Guthrie, Appellant, is represented by Anthony F. Giuliano,
Esq. -- afg@pryormandelup.com -- Pryor & Mandelup & Dennis Marc
Reisman, Esq. -- dennisreisman@aol.com -- Law Office of Dennis Marc
Reisman.

11 EAST 36th, LLC, Appellee, is represented by Jonathan S.
Pasternak, Esq. --  Esq. -- jpasternak@ddw-law.com -- -- DelBello
Donnellan Weingarten Wise & Wiederkehr, L.L.P. & Julie Anna Cvek,
Delbello, Donnellan, Weingarten, Wise & Wiederkehr, LLP.

Morgan Lofts, LLC, Appellee, is represented by Jonathan S.
Pasternak, DelBello Donnellan Weingarten Wise & Wiederkehr, L.L.P.
& Julie Anna Cvek, Delbello, Donnellan, Weingarten, Wise &
Wiederkehr, LLP.

                    About East 36th LLC

11 East 36th LLC and Morgan Lofts LLC filed voluntary petitions
for relief under Chapter 11 of the Bankruptcy Code (Bankr.
S.D.N.Y.
Case Nos. 13-11506 and 13-11507) on May 8, 2013.  Judge James M.
Peck was assigned to oversee both cases.  Anthony J. Gallo, Esq.,
at AJ Gallo Associates, P.C., served as counsel to the Debtors.

In its petition, 11 East 36th LLC estimated $0 to $50,000 in
assets
and $10 million to $50 million in liabilities. The petitions were
signed by Ben Bobker, managing member.


201 NORTH GEORGE: Court Partially Dismisses Suit vs. Neil Sullivan
------------------------------------------------------------------
Judge Patrick M. Flatley of the United States Bankruptcy Court for
the Northern District of West Virginia granted in part and denied
in part the motion to dismiss filed by Neil and Judy Sullivan in
the adversary proceeding captioned MOORING CAPITAL FUND, LLC,
Plaintiff, v. NEIL J. SULLIVAN, II, JUDY S. SULLIVAN, and JENNIFER
S. MAGHAN, in her capacity as the Clerk Of the County Commission of
Jefferson County, West Virginia, Defendants, Adversary No. 14-ap-16
(Bankr. N.D.W. Va.).

On November 20, 2015, the court granted leave to Mooring Capital
Fund, LLC, to file its first amended complaint.  Neil and Judy
Sullivan then sought the dismissal of Counts III-VI of the first
amended complaint based upon Mooring Capital's alleged failure to
state a cause of action upon which relief can be granted.  Mooring
Capital contended that the court must deny the Sullivans' motion to
dismiss because it pleaded plausible causes of action in Counts
III-VI of the first amended complaint.

Judge Flatley granted, in part, and denied, in part, the Sullivans'
motion to dismiss. Count III survived the Sullivans' motion to
dismiss, but the judge dismissed Counts IV, V, and VI.

The bankruptcy case is In re: 201 NORTH GEORGE ST., LLC, Chapter
11, Debtor, Case No. 14-bk-294 (Bankr. N.D.W. Va.).

A full-text copy of Judge Flatley's April 20, 2016 opinion is
available at http://is.gd/gZQ1eFfrom Leagle.com.

Mooring Capital Fund, LLC, a Delaware limited liability company, is
represented by:

          R. Terrance Rodgers, Esq.
          KAY CASTO & CHANEY PLLC
          1085 Van Voorhis Road, Suite 100
          Morgantown, WV 26505
          Tel: (304)400-6071
          Fax: (304)225-0974

Neil J. Sullivan, II is represented by:

          Kenneth J. Barton, Jr., Esq.
          Kelsey L. Swaim, Esq.
          STEPTOE & JOHNSON
          Edwin Miller Professional Center
          1250 Edwin Miller Blvd., Suite 300
          Martinsburg, WV 25404
          Tel: (304)263-6991
          Fax: (304)262-3541
          Email: kenneth.barton@steptoe-johnson.com
                 kelsey.swaim@steptoe-johnson.com

            -- and --

          F. Douglas Ross, Esq.
          ODIN, FELDMAN & PITTLEMAN, PC
          1775 Wiehle Avenue, Suite 400
          Reston, VA 20190
          Tel: (703)218-2100
          Email: douglas.ross@ofplaw.com

Jennifer S. Maghan, in her capacity as the Clerk of the County
Commission of Jefferson County, West Virginia, is represented by:

          Jason P. Pockl, Esq.
          David L. Wyant, Esq.
          BAILEY & WYANT PLLC
          1219 Chapline St.
          Wheeling, WV 26003
          Tel: (304)233-3100
          Email: jpockl@baileywyant.com
                 dwyant@baileywyant.com


ABENGOA BIOENERGY: Drops Bid to Hire Alvarez & Marsal
-----------------------------------------------------
Abengoa Bioenergy US Holding LLC has withdrawn its motion to hire
Alvarez & Marsal North America LLC and designate William Runge III
as chief restructuring officer, according to a filing with the U.S.
Bankruptcy Court for the Eastern District of Missouri.

                         About Abengoa Bioenergy

Abengoa Bioenergy is a collection of indirect subsidiaries of
Abengoa S.A. ("Abengoa"), a Spanish company founded in 1941. The
global headquarters of Abengoa Bioenergy is in Chesterfield,
Missouri. With a total investment of $3.3 billion, the United
States has become Abengoa S.A.'s largest market in terms of sales
volume, particularly from developing solar, bioethanol, and water
projects.

Spanish energy giant Abengoa S.A. is an engineering and clean
technology company with operations in more than 50 countries
worldwide that provides innovative solutions for a diverse range of
customers in the energy and environmental sectors. Abengoa is one
of the world's top builders of power lines transporting energy
across Latin America and a top engineering and construction
business, making massive renewable-energy power plants worldwide.

On Nov. 25, 2015, in Spain, Abengoa S.A. announced its intention to
seek protection under Article 5bis of Spanish insolvency law, a
pre-insolvency statute that permits a company to enter into
negotiations with certain creditors for restricting of its
financial affairs.  The Spanish company is facing a March 28, 2016,
deadline to agree on a viability plan or restructuring plan with
its banks and bondholders, without which it could be forced to
declare bankruptcy.

Gavilon Grain, LLC, et al., on Feb. 1, 2016, filed an involuntary
Chapter 7 petition for Abengoa Bioenergy of Nebraska, LLC ("ABNE")
and on Feb. 11, 2016, filed an involuntary Chapter 7 petition for
Abengoa Bioenergy Company, LLC ("ABC").  ABC's involuntary Chapter
7 case is Bankr. D. Kan. Case No. 16-20178. ABNE's involuntary case
is Bankr. D. Neb. Case No. 16-80141. An order for relief has not
been entered, and no interim Chapter 7 trustee has been appointed
in the Involuntary Cases. The petitioning creditors are represented
by McGrath, North, Mullin & Kratz, P.C.

On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and five
affiliated debtors each filed a Chapter 11 voluntary petition in
St. Louis, Missouri, disclosing total assets of $1.3 billion and
debt of $1.2 billion.  The cases are pending before the Honorable
Kathy A. Surratt-States and are jointly administered under Bankr.
E.D. Mo. Case No. 16-41161.

The Debtors have engaged DLA Piper LLP (US) as counsel, Armstrong
Teasdale LLP as co-counsel, Alvarez & Marsal North America, LLC as
financial advisor, Lazard as investment banker and Prime Clerk LLC
as claims and noticing agent.


ABENGOA BIONENERGY: Committee Hires FTI as Fin'l Advisor
--------------------------------------------------------
The Official Committee of Unsecured Creditors of Abengoa Bioenergy
US Holdings, LLC, et al., seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of Missouri to retain FTI
Consulting, Inc. as Financial Advisor for the Committee, nunc pro
tunc to March 21, 2016.

The Committee requires FTI to:

     a. assist in the review of financial related disclosures
required by the Court, including the Schedules of Assets and
Liabilities, the Statement of Financial Affairs and Monthly
Operating Reports;

     b. assist in the preparation of analyses required to assess
any proposed Debtor-In-Possession ("DIP") financing or use of cash
collateral;

     c. assist with the assessment and monitoring of the Debtors'
short term cash flow, liquidity, and operating results;

     d. assist with the review of the Debtors' proposed key
employee retention and other employee benefit programs;

     e. assist with the review of the Debtors' analysis of core
business assets and the potential disposition or liquidation of
non-core assets;

     f. assist with the review of the Debtors' cost/benefit
analysis with respect to the affirmation or rejection of various
executory contracts and leases;

     g. assist with the review of the Debtors' identification of
potential cost savings, including overhead and operating expenses
reductions and efficiency improvements;

     h. assist in the review and monitoring of the asset sale
process, including, but not limited to as assessment of the
adequacy of the marketing process, completeness of any buyer lists,
review and quantifications of any bids;

     i. assist with review of any tax issues associated with, but
not limited to claim/stock trading, preservation of net operating
losses, refunds due to the Debtors, plans of reorganisation, and
asset sales;

     j. assist in the review of the claims reconciliation and
estimation process;

     k. assist in the review of other financial information
prepared by the Debtors, including, but not limited to, cash flow
projections and budgets, business plans, cash receipts and
disbursement analysis, asset and liability analysis, and the
economic analysis of proposed transactions for which court approval
is sought;

     l. attend at meetings and assistance in discussion with the
Debtors, potential investors, banks, other secured lenders, the
Committee and any other official Committees organized in these
chapter 11 proceedings, the U.S. Trustee, other parties in interest
and professionals hired by the same, as requested;

     m. assist in the review and/or preparation of information and
analysis necessary for the confirmation of a plan and related
disclosure statement in these chapter 11 proceedings;

     n. assist in the evaluation and analysis of avoidance actions,
including fraudulent conveyances and preferential transfers;

     o. assist in the prosecution of Committee responses/objections
to the Debtors' motions, including attendance at depositions and
provision of expert/testimony on case issues as required by the
Committee; and

     p. render other general business consulting or such other
assistance as the Committee or its counsel may deem necessary that
are consistent with the role of a financial advisor and not
duplicative of services provided by other professionals in this
proceeding.

FTI will be paid at these hourly rates:

  Senior Managing Director                      $825-995
  Directors/Senior Director/Managing Director   $615-815
  Consultants/Senior Consultants                $325-595
  Administrative/Paraprofessionals/Associates   $130-260
  Ascendant Partners                            $450             

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

Samuel Star, Senior Managing Director with FTI Consulting, Inc.,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtors and their
estates.

FTI can be reached at:

      Samuel Star
      Three Times Square, 9th Floor
      New York, NY, 10036
      T: +1 212 247 1010
      F: +1 212 841 9350
      E-mail: samuel.star@fticonsulting.com

                      About Abengoa Bioenergy

Abengoa Bioenergy is a collection of indirect subsidiaries of
Abengoa S.A. ("Abengoa"), a Spanish company founded in 1941. The
global headquarters of Abengoa Bioenergy is in Chesterfield,
Missouri. With a total investment of $3.3 billion, the United
States has become Abengoa S.A.'s largest market in terms of sales
volume, particularly from developing solar, bioethanol, and
water
projects.

Spanish energy giant Abengoa S.A. is an engineering and clean
technology company with operations in more than 50 countries
worldwide that provides innovative solutions for a diverse range of
customers in the energy and environmental sectors. Abengoa is one
of the world's top builders of power lines transporting energy
across Latin America and a top engineering and construction
business, making massive renewable-energy power plants worldwide.

On Nov. 25, 2015, in Spain, Abengoa S.A. announced its intention to
seek protection under Article 5bis of Spanish insolvency law, a
pre-insolvency statute that permits a company to enter into
negotiations with certain creditors for restricting of its
financial affairs.  The Spanish company is facing a March 28, 2016,
deadline to agree on a viability plan or restructuring plan
with
its banks and bondholders, without which it could be forced
to declare bankruptcy. 



Gavilon Grain, LLC, et al., on Feb. 1, 2016, filed an involuntary
Chapter 7 petition for Abengoa Bioenergy of Nebraska, LLC ("ABNE")
and on Feb. 11, 2016, filed an involuntary Chapter 7 petition for
Abengoa Bioenergy Company, LLC ("ABC"). ABC's involuntary Chapter 7
case is Bankr. D. Kan. Case No. 16-20178. ABNE's involuntary case
is Bankr. D. Neb. Case No. 16-80141. An order for relief has not
been entered, and no interim Chapter 7 trustee has been appointed
in the Involuntary Cases. The petitioning creditors are represented
by McGrath, North, Mullin & Kratz, P.C.

On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and five
affiliated debtors each filed a Chapter 11 voluntary petition in
St. Louis, Missouri, disclosing total assets of $1.3 billion and
debt of $1.2 billion.  The cases are pending before the Honorable
Kathy A. Surratt-States and are jointly administered under Bankr.
E.D. Mo. Case No. 16-41161.

The Debtors have engaged DLA Piper LLP (US) as counsel, Armstrong
Teasdale LLP as co-counsel, Alvarez & Marsal North America, LLC as
financial advisor, Lazard as investment banker and Prime Clerk LLC
as claims and noticing agent.



ABENGOA BIONENERGY: Committee Hires Hogan Lovells as Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors of Abengoa Bioenergy
US Holdings, LLC, et al., seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of Missouri to retain
Hogan Lovells US LLP as counsel for the Committee, nunc pro tunc to
March 18, 2016.

The Committee requires Hogan Lovells to:

     (a) administer these cases and the exercise of oversight with
respect to the Debtor's affairs, including all issues in connection
with the Debtors, the Committee and/or these Chapter 11 Cases;

     (b) prepare on behalf of the Committee of necessary
applications, motions, memoranda, orders, reports, and other legal
papers;

     (c) appear in Court, participate in litigation as a
party-in-interest, and at statutory meetings of creditors to
represent the interest of the Committee;

     (d) negotiate and evaluate the proposed debtor-in-possession
financing and any other potential financing alternatives;  

     (e) negotiate and evaluate of the proposed restructuring
support agreement and any other potential alternatives;

     (f) negotiate, formulate, drafting and confirmation of a plan
or plans of reorganization or liquidation and matters related
thereto;

     (g) investigate, directed by the Committee, of among other
things, unencumbered asset, liabilities, and financial condition of
the Debtors, prior transactions, and operational issues concerning
the Debtors that may be relevant to these Chapter 11 Cases;

     (h) negotiate and formulate any proposed sale of any of the
Debtors' assets, including pursuant to section 363 of the
Bankruptcy Code;

     (i) communicate with the Committee's constituents in
furtherance of its responsibilities, including, but not limited to,
communications required under section 1102 of the Bankruptcy Code;
and

     (j) perform all of the Committee's duties and powers under the
Bankruptcy Code and the Bankruptcy Rules and the performance of
such other services as are in the interest of those represented by
the Committee.  

Hogan Lovells will be paid at these hourly rates:

       Partners                     $735-$1140
       Associates and Counsel       $445-$860
       Legal Assistants             $250-$340

The principal attorneys and paralegal assigned to represent the
Debtor and their current standard hourly rate, current as of
January 1, 2016, are:

      Christopher R. Donoho, III             $990 per hour
      Ronald J. Silverman                    $1,090 per hour
      M. Shane Johnson                       $610 per hour
      Raphaella S. Ricciardi                 $495 per hour
      Ronald Cappiello (paralegal)           $ 349 per hour

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

Christopher R. Donoho, III, partner of Hogan Lovells US LLP,
assured the Court that the firm is a "disinterested person" as the
term is defined in Section 101(14) of the Bankruptcy Code and does
not represent any interest adverse to the Debtors and their
estates.

The following is provided in response to the request for additional
information set forth in D1 of the Appendix B Guidelines:

     -- Hogan did not represent the Committee before its formation
on March 11, 2016.  Hogan Lovells' billing rates have not changed
since the petition date. Hogan Lovells has in the past represented,
currently represents and may represent in the future certain
Committee members and/or their affiliates in their capacities as
official committee members in other chapter 11 cases and/or as set
forth in this Application.

     -- Hogan Lovells is developing a budget and staffing plan that
will be presented for approval by the Committee.

By separate application, the Committee is seeking to retain
Thompson Coburn LLP to serve as co-counsel in this case.  Hogan
Lovells has discussed the division of responsibilities with
co-counsel and will make every effort to avoid duplication of
efforts in connection with these Chapter 11 Cases.
          
Hogan Lovells can be reached at:

     Christopher R. Donoho, III
     Ronald J. Silverman
     HOGAN LOVELLS US LLP
     875 Third Avenue
     New York, NY 10022
     Telephone: (212)918 3000
     Facsimile: (212)918 3100

                About Abengoa Bioenergy



Abengoa Bioenergy is a collection of indirect subsidiaries of
Abengoa S.A. ("Abengoa"), a Spanish company founded in 1941.

The global headquarters of Abengoa Bioenergy is in Chesterfield,
Missouri. With a total investment of $3.3 billion, the United
States has become Abengoa S.A.'s largest market in terms of sales
volume, particularly from developing solar, bioethanol, and
water
projects. 

Spanish energy giant Abengoa S.A. is an
engineering and clean technology company with operations in more
than 50 countries worldwide that provides innovative solutions for
a diverse range of customers in the energy and environmental
sectors. Abengoa is one of the world's top builders of power lines
transporting energy across Latin America and a top engineering and
construction business, making massive renewable-energy power plants
worldwide. 



On Nov. 25, 2015, in Spain, Abengoa S.A. announced its intention to
seek protection under Article 5bis of Spanish insolvency law, a
pre-insolvency statute that permits a company to enter into
negotiations with certain creditors for restricting of its
financial affairs.  The Spanish company is facing a March 28, 2016,
deadline to agree on a viability plan or restructuring plan
with
its banks and bondholders, without which it could be forced
to declare bankruptcy.

Gavilon Grain, LLC, et al., on Feb. 1, 2016, filed an involuntary
Chapter 7 petition for Abengoa Bioenergy of Nebraska, LLC ("ABNE")
and on Feb. 11, 2016, filed an involuntary Chapter 7 petition for
Abengoa Bioenergy Company, LLC ("ABC"). ABC's involuntary Chapter 7
case is Bankr. D. Kan. Case No. 16-20178. ABNE's involuntary case
is Bankr. D. Neb. Case No. 16-80141. An order for relief has not
been entered, and no interim Chapter 7 trustee has been appointed
in the Involuntary Cases. The petitioning creditors are represented
by McGrath, North, Mullin & Kratz, P.C. 



On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and five
affiliated debtors each filed a Chapter 11 voluntary petition in
St. Louis, Missouri, disclosing total assets of $1.3 billion and
debt of $1.2 billion.  The cases are pending before the Honorable
Kathy A. Surratt-States and are jointly administered under Bankr.
E.D. Mo. Case No. 16-41161. 



The Debtors have engaged DLA Piper LLP (US) as counsel, Armstrong
Teasdale LLP as co-counsel, Alvarez & Marsal North America, LLC as
financial advisor, Lazard as investment banker and Prime Clerk LLC
as claims and noticing agent.



ABENGOA BIONENERGY: Committee Hires Thompson as Local Counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of Abengoa Bioenergy
US Holdings, LLC, et al., seeks authorization from the U.S.
Bankruptcy Court for the Eastern District of Missouri to retain
Thompson Coburn LLP as local counsel for the Committee, nunc pro
tunc to March 18, 2016.

The Committee requires Thompson Coburn, in conjunction with Hogan
Lovells, to:

     a. administer the Chapter 11 Cases and the exercise of
oversight with respect to the Debtors' affairs;

     b. prepare on behalf of the Committee of necessary
applications, motions, memoranda, orders, reports, and other
papers;

     c. appear in Court, participate in litigation as a
party-in-interest, and at statutory meetings of creditors to
represent the interests of the Committee;

     d. negotiate and evaluate the proposed debtor-in-possession
financing and any other potential financing alternatives;  

     e. negotiate and evaluate the proposed restructuring support
agreement and any other potential alternatives;  

     f. negotiate, formulate, drafting and confirmation of a plan
or plans of reorganization or liquidation and matters related
thereto;

     g. investigate, directed by the Committee, of among other
things, unencumbered assets, liabilities and financial condition of
the Debtors, prior transactions, and operational issues concerning
the Debtors that may her relevant to these Chapter 11 Cases;

     h. communicate with the Committee's constituents in
furtherance of its responsibilities, including, but not limited to,
communications required under section 1102 of the bankruptcy Code;
and

     i. perform all of the Committee's duties and powers under the
Bankruptcy Code and the Bankruptcy Rules and the performance of
such other services as are in the interest of those represented by
the Committee.

Thompson Coburn will be paid at these hourly rates:

         Partners                       $365-$750
         Associates                     $235-$485
         Para-professionals             $130-$295

The principal attorneys designed to represent the Committee and
their current standard hourly rates, are:

         Mark V. Bossi                 $570
         David A. Warfield             $580
         Brian w. Hockett              $430

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

Mark V. Bossi, Esq., partner of Thompson Coburn LLP, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Consistent with the United State Trustees' Appendix B -- Guidelines
for Reviewing Applications for Compensation and Reimbursement of
Expenses Filed Under 11 U.S.C. Sec. 330 by Attorneys in Larger
Chapter 11 Cases, which became effective on November 1, 2013, Mr.
Bossi attested that:

     -- TC did not agree to any variation from, or alternatives to,
your standard or customary billing arrangements for this
engagement.

     -- None of the TC professionals included in this engagement
vary their rate based on the geographic location of the bankruptcy
case;

     -- TC did not represent the Committee before the Petition
Date;

     -- The Committee has approved TC's proposed hourly billing
rates. A Budget will be developed in connection with the other
professionals.

Thompson Coburn can be reached at:

         Mark V. Bossi, Esq.
         One U.S. Bank Plaza
         St. Louis, MO 63101
         Telephone: 314.552.6015
         E-mail: mbossi@thompsoncoburn.com

                      About Abengoa Bioenergy

Abengoa Bioenergy is a collection of indirect subsidiaries of
Abengoa S.A. ("Abengoa"), a Spanish company founded in 1941. The
global headquarters of Abengoa Bioenergy is in Chesterfield,
Missouri. With a total investment of $3.3 billion, the United
States has become Abengoa S.A.'s largest market in terms of sales
volume, particularly from developing solar, bioethanol, and
water
projects.

Spanish energy giant Abengoa S.A. is an engineering and clean
technology company with operations in more than 50 countries
worldwide that provides innovative solutions for a diverse range of
customers in the energy and environmental sectors. Abengoa is one
of the world's top builders of power lines transporting energy
across Latin America and a top engineering and construction
business, making massive renewable-energy power plants worldwide.




On Nov. 25, 2015, in Spain, Abengoa S.A. announced its intention to
seek protection under Article 5bis of Spanish insolvency law, a
pre-insolvency statute that permits a company to enter into
negotiations with certain creditors for restricting of its
financial affairs.  The Spanish company is facing a March 28, 2016,
deadline to agree on a viability plan or restructuring plan
with
its banks and bondholders, without which it could be forced
to declare bankruptcy. 



Gavilon Grain, LLC, et al., on Feb. 1, 2016, filed an involuntary
Chapter 7 petition for Abengoa Bioenergy of Nebraska, LLC ("ABNE")
and on Feb. 11, 2016, filed an involuntary Chapter 7 petition for
Abengoa Bioenergy Company, LLC ("ABC"). ABC's involuntary Chapter 7
case is Bankr. D. Kan. Case No. 16-20178. ABNE's involuntary case
is Bankr. D. Neb. Case No. 16-80141. An order for relief has not
been entered, and no interim Chapter 7 trustee has been appointed
in the Involuntary Cases. The petitioning creditors are represented
by McGrath, North, Mullin & Kratz, P.C.

On Feb. 24, 2016, Abengoa Bioenergy US Holding, LLC and five
affiliated debtors each filed a Chapter 11 voluntary petition in
St. Louis, Missouri, disclosing total assets of $1.3 billion and
debt of $1.2 billion.  The cases are pending before the Honorable
Kathy A. Surratt-States and are jointly administered under Bankr.
E.D. Mo. Case No. 16-41161. 



The Debtors have engaged DLA Piper LLP (US) as counsel, Armstrong
Teasdale LLP as co-counsel, Alvarez & Marsal North America, LLC as
financial advisor, Lazard as investment banker and Prime Clerk LLC
as claims and noticing agent.



ADELPHIA COMMUNICATIONS: Extends Exchange Offers Until May 12
-------------------------------------------------------------
ACC Claims Holdings, LLC on May 6 announced the extension of offers
to Eligible Holders to exchange (i) class A limited liability
company interests of ACC Claims Holdings, LLC for up to all of the
outstanding ACC Senior Notes Claims (Class ACC 3) allowed under the
Plan of Reorganization, including any post-petition pre-effective
date interest and post-effective date interest to and including the
extended expiration date of the offers (the "Senior Claims"),
against Adelphia Communications Corporation, and (ii) class B
limited liability company interests of ACC Claims Holdings, LLC for
up to all of the outstanding ACC Trade Claims (Class ACC 4) allowed
under the Plan of Reorganization, including any post-petition
pre-effective date interest and post-effective date interest to and
including the extended expiration date of the offers (the "ACC 4
Claims"), and ACC Other Unsecured Claims (Class ACC 5) allowed
under the Plan of Reorganization, including any post-petition
pre-effective date interest and post-effective date interest to and
including the extended expiration date of the offers (the "ACC 5
Claims" and, together with the ACC 4 Claims, the "Other Claims";
the Senior Claims and the Other Claims, together, the "Claims"),
against Adelphia Communications Corporation until 5:00 p.m., New
York City time, on Thursday, May 12, 2016.  The exchange offers
were previously scheduled to expire at 5:00 p.m., New York City
time, on Thursday, May 5, 2016.  As of 5:00 p.m.,
New York City time, on Thursday, May 5, 2016, Eligible Holders of
$3,973,169,416.00 original principal amount of ACC Senior Notes (as
defined in the Plan of Reorganization) outstanding, Eligible
Holders of $250,426,319.09 of ACC 4 Claims outstanding and Eligible
Holders of $44,646,944.11 of ACC 5 Claims outstanding had validly
tendered their Claims pursuant to the exchange offers.

ACC Claims Holdings, LLC recognizes that the Claims will continue
to accrue post-effective date interest between the original
expiration date and the extended expiration date.  Therefore, the
consideration offered to Eligible Holders will be increased by a
corresponding amount.

Except as set forth herein, the terms and conditions of the
exchange offers remain unchanged.  ACC Claims Holdings, LLC
reserves the right to further extend the exchange offers prior to
the termination of the extended expiration date.  ACC Claims
Holdings, LLC does not contemplate any such additional extensions
of the exchange offers at this time.

The exchange offers are being made pursuant to (i) the offers to
exchange, dated March 3, 2016, and supplemented and amended on
March 9, 2016, March 21, 2016, April 1, 2016, April 8, 2016,
April 15, 2016, April 21, 2016, April 29, 2016 and on the date
hereof and (ii) the related letter of transmittal, dated as of
March 3, 2016 and supplemented and amended on March 21, 2016.

The exchange offers will only be made, and the offers to exchange
and the related letter of transmittal will only be distributed to,
holders who complete, execute and return an eligibility form
confirming that they are qualified purchasers ("Qualified
Purchasers") as defined in Section 2(a)(51)(A) of the Investment
Company Act of 1940, as amended (except to the extent waived by the
managing member of ACC Claims Holdings, LLC), excluding Benefit
Plan Investors (except as provided for and subject to the terms of
the exchange offers, as amended), each of which is (x) a qualified
institutional buyer within the meaning of Rule 144A under the
Securities Act of 1933, as amended (the "Securities Act"), (y) an
institutional investor that qualifies as an "accredited investor"
pursuant to Rule 501(a)(1), (2), (3) or (7) under the Securities
Act or (z) not a U.S. person in an offshore transaction, in each
case as defined in Regulation S under the Securities Act (such
persons, "Eligible Holders").  "Benefit Plan Investor" means a
benefit plan investor, as defined in Section 3(42) of the Employee
Retirement Income Security Act of 1974, as amended ("ERISA"), and
includes (a) an employee benefit plan (as defined in Section 3(3)
of Title I of ERISA) that is subject to the fiduciary
responsibility provisions of Title I of ERISA, (b) a plan that is
subject to Section 4975 of the Internal Revenue Code of 1986, as
amended (the "Code"), or (c) any entity whose underlying assets
include, or are deemed for purposes of ERISA or the Code to
include, "plan assets" by reason of any such employee benefit
plan's or plan's investment in the entity.  Holders who desire to
obtain and complete an eligibility form should either visit the
website for this purpose at www.dfking.com/adelphia or call D.F.
King & Co., Inc., the information agent and exchange agent for the
exchange offers, at (800) 761-6523 (toll-free) or (212) 269-5550
(collect for banks and brokers only).

The managing member of ACC Claims Holdings, LLC may, in its sole
discretion, waive the restriction on tenders by Benefit Plan
Investors.  However, the managing member is not required to accept
a tender in whole or in part from an investor that is a Benefit
Plan Investor, and reserves the right to reject in its complete
discretion any tender by a Benefit Plan Investor.

                 About Adelphia Communications

Based in Coudersport, Pennsylvania, Adelphia Communications
Corporation was once the fifth-biggest cable company.  Adelphia
served customers in 30 states and Puerto Rico, and offered analog
and digital video services, Internet access and other advanced
services over its broadband networks.

Adelphia collapsed in 2002 after disclosing that founder John Rigas
and his family owed $2.3 billion in off-balance-sheet debt on bank
loans taken jointly with the company.  Mr. Rigas was sentenced to
12 years in prison, while son Timothy 15 years.

Adelphia Communications and its more than 200 affiliates filed for
Chapter 11 protection (Bankr. S.D.N.Y. Lead Case No. 02-41729) on
June 25, 2002.  Willkie Farr & Gallagher represented the Debtors in
their restructuring effort.  PricewaterhouseCoopers served as the
Debtors' financial advisor.  Kasowitz, Benson, Torres & Friedman
LLP and Klee, Tuchin, Bogdanoff & Stern LLP represented the
Official Committee of Unsecured Creditors.

Adelphia Cablevision Associates of Radnor, L.P., and 20 of its
affiliates, collectively known as Rigas-Managed Entities, were
entities that were previously held or controlled by members of the
Rigas family.  In March 2006, the rights and titles to these
entities were transferred to certain subsidiaries of Adelphia
Cablevision LLC.  The RME Debtors filed for Chapter 11 protection
(Bankr. S.D.N.Y. Case Nos. 06-10622 through 06-10642) on March 31,
2006.  Their cases were jointly administered under Adelphia
Communications and its debtor-affiliates' Chapter 11 cases.

The Bankruptcy Court confirmed the Debtors' Joint Chapter 11 Plan
of Reorganization on Jan. 5, 2007.  The Plan became effective on
Feb. 13, 2007.

The Adelphia Recovery Trust, a Delaware Statutory Trust, was formed
pursuant to the Plan.  The Trust holds certain litigation claims
transferred pursuant to the Plan against various third parties and
exists to prosecute the causes of action transferred to it for the
benefit of holders of Trust interests.  Lawyers at Kasowitz,
Benson, Torres & Friedman, LLP (NYC), represent the Adelphia
Recovery Trust.


ADI LIQUIDATION: Deadline to Remove Suits Extended to Aug. 1
------------------------------------------------------------
The U.S. Bankruptcy Court in Delaware has given ADI Liquidation
Inc. formerly Associated Wholesalers Inc., until Aug. 1, 2016, to
file notices of removal of lawsuits involving the company and its
affiliates.

                 About Associated Wholesalers

Founded in 1962 and headquartered in Robesonia, Pennsylvania,
Associated Wholesalers Inc. serviced 800 supermarkets, specialty
stores, convenience stores and superettes with grocery, meat,
produce, dairy, frozen foods and general merchandise/health and
beauty care products.  AWI, with distribution facilities in
Robesonia, Pennsylvania, and York, Pennsylvania, served the
mid-Atlantic United States.  AWI is owned by its 500 retail
members, who in turn operate supermarkets.  AWI had 1,459
employees.

White Rose Inc. is a food wholesaler and distributor serving the
greater New York metropolitan area.  The company traces its origins
to 1886, when brothers Joseph and Sigel Seeman founded Seeman
Brothers & Doremus to provide grocery deliveries throughout New
York City.  White Rose carries out its operations through three
leased warehouse and distribution centers, two of which
area located in Carteret, New Jersey, and one in Woodbridge, New
Jersey.  White Rose has 777 employees.

Associated Wholesalers and its affiliates sought Chapter 11
bankruptcy protection on Sept. 9, 2014, to sell their assets under
11 U.S.C. Sec. 363 to C&S Wholesale Grocers, absent higher and
better offers.  The Debtors were granted joint administration of
their Chapter 11 cases for procedural purposes, under the lead case
of AWI Delaware, Inc., Bankr. D. Del. Case No. 14-12092.

As of the Petition Date, the Debtors owed the Bank Group
(consisting of lenders, Bank of America, N.A., Bank of American
Securities LLC as sole lead arranger and joint book runner, Wells
Fargo Capital Finance, LLC as joint book runner and syndication
agent, and RBS Capita, as documentation agent) an aggregate
principal amount of not less than $131,857,966 (inclusive of
outstanding letters of credit), plus accrued interest.  The
Debtors
estimate trade debt of $72 million.  AWI Delaware disclosed $11,440
in assets and $125,112,386 in liabilities as of the Chapter 11
filing.

Saul Ewing LLP and Rhoads & Sinon LLP serve as legal advisors to
the Debtors, Lazard Middle Market serves as financial advisor, and
Carl Marks Advisors as restructuring advisor to AWI.  Carl Marks'
Douglas A. Booth has been tapped as chief restructuring officer.
Epiq Systems serves as the claims agent.

The Official Committee of Unsecured Creditors is represented by
David B. Stratton, Esq., and Evelyn J. Meltzer, Esq., at Pepper
Hamilton, LLP, in Wilmington, Delaware; and Mark T. Power, Esq.,
and Christopher J. Hunker, Esq., at Hahn & Hessen LLP, in New York.
The Committee also has retained Capstone Advisory Group, LLC,
together with its wholly-owned subsidiary Capstone Valuation
Services, LLC, as its financial advisors.

The Troubled Company Reporter, on Nov. 5, 2014, reported that the
Bankruptcy Court authorized Associated Wholesalers to sell
substantially all of its assets, including their White Rose grocery
distribution business, to C&S Wholesale Grocers, Inc.   The C&S
purchase price consists of the lesser of the amount of the bank
debt, which totals about $18.1 million and $152 million, plus
other liabilities, which amount is valued at $194 million.  C&S,
according to Bill Rochelle and Sherri Toub, bankruptcy columnists
for Bloomberg News, ended up paying $86.5 million more cash to be
anointed as the winner at the auction.

Associated Wholesalers, which changed its name to AWI Delaware,
Inc., prior to the approval of the sale.  AWI Delaware notified the
Bankruptcy Court on Nov. 12, 2014, that closing occurred in
connection with the sale of their assets to C&S.  AWI Delaware then
changed its name to ADI Liquidation, Inc., following the closing of
the sale.

As reported in the Feb. 29 edition of the TCR, ADI Liquidation,
Inc., f/k/a AWI Delaware, Inc., filed with the U.S. Bankruptcy
Court for the District of Delaware a Chapter 11 plan of liquidation
and an accompanying disclosure statement.

Under the Plan, holders of general unsecured claims will receive
cash on the initial, subsequent and final distribution dates in the
amount of the Allowed General Unsecured Claim multiplied by the
Initial, Subsequent or Final Distribution Percentage, as
applicable, and, if applicable, a Catch-Up Distribution.  General
Unsecured Claims against AWI are estimated to total $30,506,586.


AFFORDABLE MED: Granted Leave to Revise Advisor Engagement Letter
-----------------------------------------------------------------
Debtor Affordable Med Scrubs LLC filed an application to employ
Patricia A. Missal and The Numbers Group as its financial advisor,
nunc pro tunc to January 11, 2016, to which FirstMerit Bank,
Debtor's primary secured creditor, has objected.

Judge Mary Ann Whipple of the United States Bankruptcy Court for
the Northern District of Ohio, Western Division granted the
Objection and and granted in part the Interim Payment Procedure.

The Debtor is granted leave to file a revised form of engagement
letter in support of and as a supplement to its Application for An
Order Authorizing (A) The Retention of the Numbers Group, LLC And
Patricia Missal as Financial Advisor to the Debtor Nunc Pro Tunc to
January 11, 2016; and (B) Interim Payment Procedure, which
submission shall be made on or before April 8, 2016, absent which
the court will enter an order denying the Application; and

Any objections to any revised engagement letter for Numbers Group
filed by Debtor must be filed on or before 3 business days from the
filing of the document by Debtor, absent which the court will grant
the Application on the terms set forth in the revised engagement
letter without further notice or opportunity for hearing.

A full-text copy of the Memorandum of Decision and Order dated
March 29, 2016 is available at http://is.gd/qUOn33from
Leagle.com.

The case is In Re Affordable Med Scrubs LLC, Chapter 11, Debtor and
Debtor-in-Possession, Case No. 15-33448 (Bankr. N.D. Ohio).

Affordable Med Scrubs LLC, Debtor, is represented by Sherri Lynn
Dahl, Esq. -- sdahl@dahllawllc.com -- Dahl Law LLC.

U.S. Trustee, is represented by Derrick Rippy, Office of the US
Trustee.


ALLIED SYSTEMS: Order Granting Summary Judgment to BD/S Affirmed
----------------------------------------------------------------
In the appealed case captioned YUCAIPA AMERICAN ALLIANCE FUND II,
LP, et al., Appellants, v. BDCM OPPORTUNITY FUND II, LP, et al.,
Appellees, Civ. No. 13-cv-1580 (SLR), No. 13-cv-1583 (SLR) (D.
Del.), Judge Sue L. Robinson of the United States District Court
for the District of Delaware affirmed the bankruptcy court's August
7, 2013 order.

Appellants Yucaipa American Alliance Fund I, L.P., Yucaipa American
Alliance (Parallel) Fund I, L.P., Yucaipa American Alliance Fund
II, L.P., and Yucaipa American Alliance (Parallel) Fund II, L.P.
(together, "Yucaipa") filed bankruptcy appeals on August 21, 2013.
The appeal arises from an order entered by the bankruptcy court on
August 7, 2013, granting a motion for summary judgment filed by
BDCM Opportunity Fund II, LP, Black Diamond CLO 2005-1 Ltd, and
Spectrum Investment Partners, L.P. (together, "BD/S") in two
adversary proceedings, which determined that BD/S were "Requisite
Lenders' as that term is defined in a certain first lien credit
agreement ("FLCA").  In reaching its conclusion, the bankruptcy
court determined that: (i) Yucaipa was collaterally estopped from
arguing that a purported fourth amendment to the FLCA ("Fourth
Amendment") was valid, based upon a prior ruling by a New York
state court that the Fourth Amendment was "invalid and of no force
or effect"; (ii) a previous amendment to the FLCA ("Third
Amendment") was validly enacted and governed the Requisite Lender
determination; and (iii) Yucaipa's improperly acquired First Lien
Debt had no voting rights and must be excluded from the Requisite
Lender calculation.

The bankruptcy case is In re: ALLIED SYSTEM HOLDINGS INC, et al.,
Chapter 11 Debtors, Bank. No. 12-11564 (CSS). (Jointly
Administered), Nos. 12-50947 (CSS), 13-50530 (CSS) (Bankr. D.
Del.).

A full-text copy of Judge Robinson's April 1, 2016 memorandum
opinion is available at http://is.gd/E0JGxKfrom Leagle.com.

Yucaipa American Alliance Fund II LP, Yucaipa American Alliance
(Parallel) Fund II LP, Yucaipa American Alliance Fund I LP, Yucaipa
American Alliance (Parallel) Fund I LP, are represented by:

          Donald J. Bowman, Jr., Esq.
          Edmon L. Morton, Esq.
          Laurel Dana Roglen, Esq.
          YOUNG, CONAWAY, STARGATT & TAYLOR LLP
          Rodney Square
          1000 North King Street
          Wilmington, DE 19801
          Tel: (302)571-6600
          Fax: (302)571-1253
          Email: dbowman@ycst.com
                 emorton@ycst.com
                 lroglen@ycst.com

BDCM Opportunity Fund II LP and Spectrum Investment Partners LP is
represented by:

          Adam G. Landis, Esq.
          Kerri King Mumford, Esq.
          LANDIS RATH & COBB LLP
          919 Market Street, Suite 1800
          Wilmington, DE 19801
          Tel: (302)467-4400
          Fax: (302)467-4450
          Email: landis@lrclaw.com
                 mumford@lrclaw.com

Black Diamond CLO 2005-1 LTD is represented by:

          Adam G. Landis, Esq.
          Kerri King Mumford, Esq.
          LANDIS RATH & COBB LLP
          919 Market Street, Suite 1800
          Wilmington, DE 19801
          Tel: (302)467-4400
          Fax: (302)467-4450
          Email: landis@lrclaw.com
                 mumford@lrclaw.com

            -- and --

          David M. Hillman, Esq.
          Frank W. Olander, Esq.
          Mark D. Richardson, Esq.
          Michael Kwon, Esq.
          Robert J. Ward, Esq.
          Email: frank.olander@srz.com
                 mark.richardson@srz.com
                 michael.kwon@srz.com
                 robert.ward@srz.com

                    About Allied Systems Holdings

BDCM Opportunity Fund II, LP, Spectrum Investment Partners LP, and
Black Diamond CLO 2005-1 Adviser L.L.C., filed involuntary
petitions for Allied Systems Holdings Inc. and Allied Systems Ltd.
(Bankr. D. Del. Case Nos. 12-11564 and 12-11565) on May 17, 2012.
The signatories of the involuntary petitions assert claims of at
least $52.8 million for loan defaults by the two companies.

Allied Systems, through its subsidiaries, provides logistics,
distribution, and transportation services for the automotive
industry in North America.

Allied Holdings Inc. first filed for chapter 11 protection (Bankr.
N.D. Ga. Case Nos. 05-12515 through 05-12537) on July 31, 2005.
Jeffrey W. Kelley, Esq., at Troutman Sanders, LLP, represented the
Debtors in the 2005 case.  Allied won confirmation of a
reorganization plan and emerged from bankruptcy in May 2007 with
$265 million in first-lien debt and $50 million in second-lien
debt.

The petitioning creditors said Allied defaulted on payments of
$57.4 million on the first lien debt and $9.6 million on the
second.  They hold $47.9 million, or about 20% of the first-lien
debt, and about $5 million, or 17%, of the second-lien obligation.

They are represented by Adam G. Landis, Esq., and Kerri K. Mumford,
Esq., at Landis Rath & Cobb LLP; and Adam C. Harris, Esq., and
Robert J. Ward, Esq., at Schulte Roth & Zabel LLP.

Allied Systems Holdings Inc. formally put itself and 18
subsidiaries into bankruptcy reorganization June 10, 2012,
following the filing of the involuntary Chapter 11 petition.

The Company is being advised by Mark D. Collins, Esq., at Richards,
Layton & Finger, P.A., and Jeffrey W. Kelley, Esq., at Troutman
Sanders, Gowling Lafleur Henderson.

The bankruptcy court process does not include captive insurance
company Haul Insurance Limited or any of the Company's Mexican or
Bermudan subsidiaries.  The Company also announced that it intends
to seek foreign recognition of its Chapter 11 cases in Canada.

An official committee of unsecured creditors has been appointed in
the case.  The Committee consists of Pension Benefit Guaranty
Corporation, Central States Pension Fund, Teamsters National
Automobile Transporters Industry Negotiating Committee, and General
Motors LLC.  The Committee is represented by Sidley Austin LLP.

In January 2014, the U.S. Trustee for Region 3 appointed a
three-member Official Committee of Retirees.

Yucaipa Cos. has 55% of the senior debt and took the position it
had the right to control actions the indenture trustee would take
on behalf of debt holders.  The state court ruled in March 2013
that the loan documents didn't allow Yucaipa to vote.

In March 2013, the bankruptcy court gave the official creditors'
committee authority to sue Yucaipa.  The suit includes claims that
the debt held by Yucaipa should be treated as equity or
subordinated so everyone else is paid before the Los Angeles-based
owner. The judge allowed Black Diamond to participate in the
lawsuit against Yucaipa and Allied directors.

Yucaipa American Alliance Fund I, L.P., Yucaipa American Alliance
(Parallel) Fund I, L.P., Yucaipa American Alliance Fund II, L.P.,
Yucaipa American Alliance (Parallel) Fund II, L.P., represented by
Michael R. Nestor, Esq., and Edmund L. Morton, Esq., at Young
Conaway Stargatt & Taylor, LLP; and Robert A. Klyman, Esq., at
Gibson, Dunn & Crutcher LLP.

First Lien Agent, Black Diamond Commercial Finance, L.L.C.,
represented by Adam G. Landis, Esq., and Kerri K. Mumford, Esq., at
Landis Rath & Cobb LLP; and Adam C. Harris, Esq., Robert J. Ward,
Esq., and David M. Hillman, Esq., at Schulte Roth & Zabel LLP.

Allied Systems Holdings, Inc., has changed its name to ASHINC
Corporation.

                          *     *     *

ASHINC Corporation, f/k/a Allied Systems Holdings, Inc., and its
debtor affiliates filed with the U.S. Bankruptcy Court for the
District of Delaware a joint Chapter 11 plan of reorganization,
co-proposed by the Committee and the first lien agents.

The Plan provides that certain of the Debtors' assets, the
Litigation Trust Assets, will vest in the Allied Litigation Trust,
and the remainder of the Debtors' assets, including the proceeds
from the sale of substantially all of the Debtors' assets, will
either revest in the Reorganized Debtors or be distributed to the
Debtors' creditors.


ALLY FINANCIAL: Stephen Feinberg Reports Less Than 5% Stake
-----------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Stephen Feinberg disclosed that as of May 2, 2016, he
beneficially owns 24,116,297 shares of common stock of Ally
Financial Inc.  

Based upon the information set forth in the Annual Report on Form
10-K of Ally filed with the SEC on Feb. 24, 2016, there were
483,067,645 shares of common stock, par value $0.01 per share, of
the Company issued and outstanding as of Feb. 23, 2016. As a
result, Mr. Feinberg may be deemed to beneficially own less than
5.0% of the shares of the Common Stock issued and outstanding.

A copy of the regulatory filing is available for free at:

                        http://is.gd/XmsLvj

                        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: Can Terminate Labor, Retiree Obligations
-------------------------------------------------------
Jacqueline Palank, writing for Dow Jones' Daily Bankruptcy Review,
reported that a bankruptcy judge said on May 9 that he would set
Alpha Natural Resources Inc. free from its labor pacts with a
mineworkers' union as well as from obligations to union retirees.

According to the report, citing the worsening conditions in the
coal markets since Alpha sought chapter 11 protection last August,
Judge Kevin R. Huennekens of the U.S. Bankruptcy Court in Richmond,
Va., authorized the company to terminate existing
collective-bargaining agreements with the United Mine Workers of
America.  The labor pacts cover roughly 600 active union workers,
about 11% of Alpha's workforce, as well as about 2,600 retired
union workers, the report related.

The Troubled Company Reporter, on April 13, 2016, reported that the
Debtors sought authority to reject their obligations under their
collective bargaining agreements with the United Mine Workers of
America for the benefit of certain of the Debtors' hourly
workforce.

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

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

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

                  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 EAGLE: Cash Collateral Budget Period Extended to July 30
-----------------------------------------------------------------
American Eagle Energy Corp. announced that the budget period has
been extended to July 30, 2016, in accordance with a bankruptcy
court's previous order that allowed the company to use cash
collateral.

The order was issued on March 1 by the U.S. Bankruptcy Court for
the District of Colorado.

A copy of the approved budget is available without charge at
http://is.gd/uv3H7S

                    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: Court Allows Up to $500K in DIP Financing
-----------------------------------------------------------
Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware, entered his Final Order, authorizing
Debtors American Hospice Management Holdings, LLC, et al., to
obtain postpetition financing, as well as to use cash collateral.

Judge Silverstein authorized the Debtors to obtain up to $500,000
in aggregate postpetition secured super-priority
debtor-in-possession financing from Hospice Partners of America,
LLC.

The DIP Credit Agreement contains, among others, the following
relevant terms:

     (a) Maturity Date: The earlier of: (i) May 30, 2016, (ii) the
effective date of any plan of reorganization of the Debtors, (iii)
conversion of the Chapter 11 cases or any one of them to a case
under Chapter 7 of the Bankruptcy Code, (iv) dismissal of any of
the Chapter 11 cases, (v) appointment of a Chapter 11 or Chapter 7
trustee, or (vi) closing of any sale of substantially all the
assets of any individual Debtor.

     (b) Interest: Interest on the DIP Loans shall be payable
monthly as of the end of each month.  DIP Loans shall bear interest
at a fixed rate per annum of 10%.  Upon the occurrence and during
the continuance of an Event of Default and the giving of any
required notice by the Lender, in accordance with the provisions of
the DIP Credit Agreement, all DIP Loan Obligations shall bear
interest at the Default Rate of Interest.

     (c) Fees and Expenses: Each of the Companies shall reimburse
or pay the Lender for all Out-of-Pocket Expenses, provided however,
that neither Lender nor its advisors shall be required to file fee
applications or otherwise seek Bankruptcy Court approval for the
payment of such Out of Pocket Expenses.

"Good cause has been shown for the entry of this Final Order and
authorization for the Debtors to continue to use Cash Collateral
and to obtain extensions of credit under the DIP Loan pursuant to
the terms of the DIP Loan Documents.  The Debtors' need for use of
Cash Collateral and financing of the type afforded by the DIP
Agreement is ongoing, immediate, and critical.  Entry of this Final
Order will minimize disruption of the Debtors' businesses and
operations, will preserve the assets of the Debtors' estates and
their value and is in the best interests of the Debtors, their
creditors and their estates.  The terms of the proposed financing
are fair and reasonable, reflect the Debtor's exercise of prudent
business judgment and are supported by reasonably equivalent value
and fair consideration,” Judge Silverstein states in his Final
Order.

A full-text copy of the Final Order, dated April 18, 2016, is
available at http://is.gd/T3E9Sn.  

About American Hospice Management Holdings, LLC

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.



ANTERRA ENERGY: Obtains Creditor Protection Under CCAA
------------------------------------------------------
Anterra Energy Inc. on May 6 disclosed that it has obtained
creditor protection uner the Companies' Creditors Arrangement Act
(Canada) (the "CCAA") pursuant to an order granted on May 6, 2016
by the Court of Queen's Bench of Alberta, Judicial Centre of
Calgary (the "Court").  CCAA protection stays creditors and others
from enforcing rights against Anterra and affords the Company the
opportunity to restructure its financial affairs.

Further, Anterra announces that on May 6, 2016, the Alberta
Securities Commission issued a cease trade order (the "Alberta
Cease Trade Order") against the Company for failure to file its
audited annual financial statements, annual management's discussion
and analysis, and related certifications, for the year ended
December 31, 2015 (the "Annual Disclosure").  Anterra expects the
securities regulators in each of the jurisditions in which it is a
reporting issuer to issue similar orders in due course (together
with the Alberta Cease Trade Order, the "Cease Trade Orders").  As
a result of the Cease Trade Orders, the Company's securities have
been halted from trading on the TSX Venture Exchange (the
"Exchange") until such time as the Cease Trade Orders has been
revoked or varied, and the Company meets Exchange requirements in
relation to the reinstatement of trading.  The Company intends to
finalize the Annual Disclosure and once filed, Anterra will apply
to the applicable securities commissions to have the Cease Trade
Orders revoked.

Prior to the issuance of the Alberta Cease Trade Order, the Company
arranged for a $2.5 million interim convertible loan which the
lender has agreed may be used to fund the CCAA process and for
related expenses.

The decision to seek CCAA protection follows an extensive review of
Anterra's strategic alternatives by the Board of Directors and
efforts by management to seek additional capital to restart
production.  Anterra's efforts to pursue strategic alternatives has
been severely hindered by the unprecedented downturn in the oil and
gas industry in Alberta which has impacted on the Company's ability
to raise capital or to complete a sale of assets and has resulted
in the company ceasing production from its properties.  It was
determined by the Board of Directors that, as a result of Anterra's
current financial resources and the inability of the Company to
complete a fulsome sale or capital raising process in sufficient
time to address its financial condition, obtaining CCAA protection
was in the best interests of the Company and all of its
stakeholders.  While under CCAA protection, Anterra intends to
continue with day-to-day operations and with its efforts to pursue
strategic alternatives, including securing additional capital.
Anterra further expects CCAA protection will allow entities
currently engaged in evaluating potential investments additional
time for due diligence.

Anterra has sought protection under the CCAA as its current cash in
hand would not allow it to meet its current obligations and its
obligations expected to come due in the short term.  The Court has
granted CCAA protection for an initial period of 30 days expiring
June 5, 2016, to be extended thereafter as the Court deems
appropriate.  If by June 5, 2016 Anterra has not filed a Plan of
Arrangement (the "Plan"), or obtained an extension of the CCAA
protection, creditors and others will no longer be stayed from
enforcing their rights.  The Company will issue a further news
release on or before June 5, 2016 which will provide an update.

The Board of Directors will maintain its usual role and management
will remain responsible for the Company's day-to-day operations,
under the supervision of PricewaterhouseCoopers Inc. as
Court-appointed monitor and who will be responsible for reviewing
Anterra's ongoing operations, assisting with the development and
filing of the Plan, liaising with creditors and other stakeholders
and reporting to the Court.  The Board of Directors and management
of Anterra will also be primarily responsible for formulating the
Plan for restructuring Anterra's affairs.  Anterra will continue
with its efforts to find an investor for the company or a buyer for
its assets while under CCAA protection.

Although CCAA protection enables Anterra to continue with its
day-to-day operations until its CCAA status changes, the
implications for Anterra's shareholders are less clear.  Anterra's
intention continues to explore a number of alternatives, including
a sale of the Company and the repayment of all creditors.  However,
the Plan must be approved by the requisite number and value of the
affected creditors, as required by law, as well as by the Court.
At the end of the restructuring process, the value of what is left
for shareholders will depend upon the terms of the Plan approved by
the affected stakeholders.  If the Plan is not so approved it is
possible that Anterra would be placed into receivership or
bankruptcy.  Every effort will be made to ensure that all
stakeholders of Anterra are kept informed of developments as they
occur.

Anterra Energy Inc. -- http://www.anterraenergy.com-- is a
Canada-based oil focused junior exploration and production company.
The Company is engaged in the acquisition, development,
optimization and production of crude oil and natural gas in western
Canada.  The Company has two segments: oil and gas segment, and
midstream processing segment.  The Company's oil and gas segment
explores for, develops and produces oil and gas.  The Company's
midstream processing segment provides third party processing and
disposal services to the oil and gas industry.  The Company
operates five principal oil properties in Alberta: Breton - Belly
River Oil, Buck Lake - Cardium Oil, Nipisi - Gilwood Oil,
Strathmore - Basal Quartz Oil and Two Creek - Jurassic Oil.


BEAR CREEK: Voluntary Chapter 11 Case Summary
---------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                       Case No.
      ------                                       --------
      Bear Creek Partners II, L.L.C.               16-02553
      5000 Northwinds Drive, Suite 120
      East Lansing, MI 48823

      Bear Creek Retail Partners II LLC            16-02554
      5000 Northwinds Drive, Suite 120
      East Lansing, MI 48823

Type of Business: Single Asset Real Estate

Chapter 11 Petition Date: May 6, 2016

Court: United States Bankruptcy Court
       Western District of Michigan (Grand Rapids)

Judge: Hon. John T. Gregg

Debtors' Counsel: Jay L. Welford, Esq.
                  JAFFE, RAITT, HEUER & WEISS, PC
                  27777 Franklin Rd, Ste 2500
                  Southfield, MI 48034
                  Tel: 248-351-3000
                  Email: jwelford@jaffelaw.com

                    - and -

                  Robert R. Wardrop, Esq.
                  WARDROP & WARDROP PC
                  300 Ottawa Ave. NW Ste. 150
                  Grand Rapids, MI 49503
                  Tel: 616-459-1225
                  Email: robb@wardroplaw.com

                                     Estimated    Estimated
                                      Assets     Liabilities
                                   -----------   -----------
Bear Creek Partners II             $10MM-$50MM   $10MM-$50MM
Bear Creek Retail Partners         $10MM-$50MM   $10MM-$50MM

The petition was signed by Scott A. Chappelle, president.

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


BIG DRIVE CATTLE: Transfers to C. Knisley Voidable, Court Rules
---------------------------------------------------------------
Chief District Judge Laurie Smith Camp of the United States
District Court for the District of Nebraska affirmed the order and
judgment issued by the United States Bankruptcy Court for the
District of Nebraska granting the request of James A. Overcash, the
Chapter 11 Trustee, that certain payments to Appellant, Mr. Carol
Knisley from Debtor Big Drive Cattle, L.L.C., be regarded as
voidable transfers.

The Appellant admitted that the Debtor was insolvent at the time of
Transfers. The record before the Court supports the Bankruptcy
Court's factual determination that a bailment relationship did not
exist between Appellant and Debtor. Accordingly, the Transfers were
voidable, Judge Camp held.

A full-text copy of the Memorandum Opinion dated March 30, 2016 is
available at http://is.gd/Y0utgxfrom Leagle.com.

The case is JAMES A. OVERCASH, Chapter 11 Trustee; Appellee, v.
CAROL KNISLEY, Appellant, Case No. 4:15CV3039 (Bankr. D. Neb.).

The bankruptcy case is IN RE BIG DRIVE CATTLE, L.L.C., CHAPTER 11,
Debtor, Bankruptcy No. BK A13-4040 (Bankr. D. Neb.).

James A. Overcash, Plaintiff, is represented by James A. Overcash,
Esq. -- jovercash@woodsaitken.com -- WOODS, AITKEN LAW FIRM & Kari
A. F. Scheer, Esq. -- kscheer@woodsaitken.com -- WOODS, AITKEN LAW
FIRM.

Carol Knisley, Defendant, is represented by Daniel F. Church, Esq.
-- dchurch@mwklaw.com -- MORROW, WILLNAUER LAW FIRM.

U.S. Bankruptcy Court, Interested Party, is represented by U.S.
Bankruptcy Clerk, U.S. BANKRUPTCY COURT.

U.S. Trustee, Trustee, is represented by Patricia M. Fahey, U.S.
TRUSTEE.

Big Drive Cattle LLC filed Chapter 11 bankruptcy (Bankr. D. Neb.
Case No. 11-42415) on Sept. 9, 2011.  The Cedar Rapids, Nebraska-
based company is represented in the bankruptcy case by Patrick
Raymond Turner, Esq. -- patrick.turner@huschblackwell.com -- at
Husch Blackwell Sanders LLP.  It estimated $1 million to $10
million in both assets and debts.  The petition was signed by
Cecil Don Haun, managing member.


BIOBASED LLC: Summary Judgment Favoring Hunt, et al., Affirmed
--------------------------------------------------------------
The Supreme Court of Arkansas affirmed the order of the trial court
in the case captioned TOM MUCCIO, MIKE MUCCIO, AND NEXT CHAPTER
RESOURCES, LLC, APPELLANTS, v. JOHNELLE HUNT; PHIL PHILLIPS; DAVID
SCHUMACHER; TREY TRUMBO; JOHNELLE HUNT, LLC; PHIL AND JUDY PHILLIPS
FAMILY LIMITED PARTNERSHIP, LLLP; AND BIG HORN LODGE FINANCING,
LLC, APPELLEES, No. CV-15-636 (Ark.).

Tom Muccio, Mike Muccio, and Next Chapter Resources, LLC, appealed
from an order of the Pulaski County Circuit Court granting summary
judgment in favor of appellees Johnelle Hunt, Phil Phillips, David
Schumacher, Trey Trumbo, Johnelle Hunt, LLC, Phil and Judy Phillips
Family Limited Partnership, LLLP, and Big Horn Lodge Financing,
LLC.

The Supreme Court of Arkansas found that the appellees failed to
present proof sufficient to raise a question of fact with regard to
the claims before the trial court on summary judgment.

In 2012, appellants sued appellees in the Pulaski County Circuit
Court, alleging causes of action for civil conspiracy, intentional
interference with a contractual relationship or business
expectancy, fraud and fraudulent inducement, and violation of the
Arkansas Deceptive Trade Practices Act (ADTPA). The operative
facts, as relayed in the complaint, are as follows. The parties
were all members of a company called BioBased, LLC. Appellants
controlled 41.81 percent of the company, with Tom Muccio
individually controlling 4.85 percent of the company, Mike Muccio
individually controlling 10.08 percent of the company, and Next
Chapter Resources controlling 26.88 percent of the company.
Appellees controlled 56.19 percent of the company.

Appellants failed to provide any proof that Tom Muccio, who
represented Next Chapter Resources at the August 14, 2009 meeting,
relied on any false representation in voting in favor of placing
BioBased in Chapter 11 bankruptcy.

A full-text copy of the Supreme Court of Arkansas' April 21, 2016
opinion is available at http://is.gd/BPM3orfrom Leagle.com.


BIOLIFE SOLUTIONS: Appoints Roderick de Greef CFO
-------------------------------------------------
BioLife Solutions, Inc., appointed Roderick de Greef, 55, as the
Company's chief financial officer and secretary on May 3, 2016. Mr.
de Greef has served as the Company's interim chief financial
officer and secretary since March 4, 2016.  Previously, Mr. de
Greef served as a director of the Company from June 2000 through
November 2013 and provided the Company with strategic and financial
consulting services from July 2007 through August 2011.

Mr. de Greef has over 25 years of extensive experience in corporate
finance and the business world in general, as well as having served
as a chief financial officer and director of a number of public and
private companies.  Mr. de Greef has served Elephant Talk
Communications Corp., a mobile communications company, as a
director, chair of the Audit Committee and member of the Nominating
and Corporate Governance Committee and Compensation Committee since
September 2015, and was previously a director of Elephant Talk from
January 2008 to October 2011.  Since June 2013, Mr. de Greef has
served as a director and as acting chief financial officer of
RealAnalogics, Inc., a privately held real estate data company.
From March 2015 to February 2016, Mr. de Greef was a partner of
MedTech Advisors, Inc., a strategic and financial consulting firm.
Since November 2013 Mr. de Greef has served as the president and
sole director of Cambridge Cardiac Technologies, Inc. a privately
held successor to Cambridge Heart, Inc. From November 2003 to May
2013, Mr. de Greef served as a director, member of the Audit
Committee and chairman of the Compensation Committee of Endologix,
Inc., a developer of minimally invasive, AAA stents.  From November
2008 to October 2013, Mr. de Greef was the chairman of the board of
Cambridge Heart, Inc., a manufacturer of non-invasive diagnostic
cardiology products.  Mr. de Greef received a Bachelor of Arts in
Economics and International Relations from San Francisco State
University and a Masters of Business Administration from the
University of Oregon.

The Company and Mr. de Greef have entered into an employment
agreement effective May 3, 2016.  The Employment Agreement is not
for a definite time period, but rather, will continue until
terminated in accordance with its terms.  The Employment Agreement
provides for Mr. de Greef receiving a salary of $300,000 per year.

The Employment Agreement contains a covenant of Mr. de Greef not to
compete with the Company or solicit the Company's employees,
customers or suppliers for a period of one year after the date of
termination.

Mr. de Greef has also received, effective May 3, 2016, 234,000
nonqualified stock options under the Company's amended and restated
2013 performance incentive plan, with an exercise price equal to
the closing price on May 3, 2016.  The options will be for a period
of ten years and vest 25% on the first anniversary of the date of
grant and thereafter, in 36 equal monthly installments.  The
Company will also provide Mr. de Greef with temporary accommodation
for up to 90 days and reimbursement of certain relocation
expenses.

                    About BioLife Solutions

Bothell, Washington-based BioLife Solutions, Inc., develops and
markets patented hypothermic storage and cryo-preservation
solutions for cells, tissues, and organs, and provides contracted
research and development and consulting services related to
optimization of biopreservation processes and protocols.

BioLife reported a net loss of $4.99 million on $6.44 million of
product sales for the year ended Dec. 31, 2015, compared to a net
loss of $3.30 million on $6.19 million of product sales for the
year ended Dec. 31, 2014.

As of Dec. 31, 2015, Biolife had $12.36 million in total assets,
$2.51 million in total liabilities and $9.85 million in total
shareholders' equity.


BOWERS INVESTMENT: Case Summary & 14 Unsecured Creditors
--------------------------------------------------------
Debtor: Bowers Investment Company, LLC
        2333 Van Horn Rd.
        Fairbanks, AK 99701

Case No.: 16-00136

Chapter 11 Petition Date: May 6, 2016

Court: United States Bankruptcy Court
       District of Alaska (Fairbanks)

Judge: Hon. Gary Spraker

Debtor's Counsel: Frank H. Cahill, Esq.
                  LAW OFFICES OF H. FRANK CAHILL
                  880 N Street, Suite #203
                  Anchorage, AK 99501
                  Tel: (907) 222-4905
                  E-mail: cahill@gci.net

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Gerald L. Bowers, managing member.

A list of the Debtor's 14 largest unsecured creditors is available
for free at:

        http://bankrupt.com/misc/akb16-00136.pdf


CAESARS ENTERTAINMENT: Appoints Chief Restructuring Officer
-----------------------------------------------------------
Caesars Entertainment Corporation on May 6 disclosed that its Board
has appointed the Honorable Robert E. Gerber as Chief Restructuring
Officer.  The appointment came at the recommendation of Caesars
Entertainment's independent director committee, the Strategic
Alternatives Committee.  Judge Gerber will report to this Committee
and help it carry out its responsibilities, including advising on a
potential restructuring of Caesars Entertainment if the Company
cannot resolve its differences with Caesars Entertainment Operating
Company, Inc. ("CEOC") and its creditors with regard to CEOC's
restructuring and related litigation against Caesars Entertainment,
or if other factors make a potential restructuring of Caesars
Entertainment advisable.

"Caesars Entertainment has offered substantial value to CEOC in an
effort to end the protracted and expensive bankruptcy proceedings
of CEOC," said Fred Kleisner, Chairman of the Strategic
Alternatives Committee.  "Despite a proposal that would provide
CEOC and its creditors with value that Caesars Entertainment
believes would be more than sufficient to address the findings of
the Examiner, as well as settle the ongoing guarantee litigation
pending against the Company, there remains disagreement between the
parties, over how to quantify and allocate this value."

Caesars Entertainment believes that Judge Gerber will be
instrumental in assisting the Strategic Alternatives Committee in
its efforts.  Judge Gerber has extensive experience with large and
complex bankruptcy proceedings.  He was a United States Bankruptcy
Judge for the Southern District of New York for more than 15 years,
presiding over a wide variety of complex Chapter 11, Chapter 15,
Section 304 and SIPA cases -- including 10 with over $1 billion in
debt.  Judge Gerber was named as one of the nation's outstanding
bankruptcy judges six times.  Prior to that, he practiced with
Fried, Frank, Harris, Shriver & Jacobson in New York, specializing
in securities and commercial litigation and, thereafter, bankruptcy
litigation and counseling.

Caesars Entertainment's Strategic Alternatives Committee is
presently comprised of three independent directors, is advised by
its own legal and financial advisors and is charged with exploring,
evaluating and reviewing potential strategic alternatives and
contingency planning for Caesars Entertainment as it relates to the
ongoing bankruptcy proceedings of CEOC and the related litigation
pending against Caesars Entertainment.  The Committee also oversees
the Company's involvement in CEOC's bankruptcy proceedings.

Since the commencement of CEOC's bankruptcy, Caesars Entertainment
and its affiliates have spent in excess of $345 million on legal
and professional fees associated with the restructuring.  In its
first-quarter earnings report on May 5, in which management
announced record operating results, Caesars Entertainment noted
that while the cash forecast at the Company currently contemplates
liquidity to be sufficient through the end of the year, Caesars
Entertainment's cash balance will be consumed by expenses
associated with the CEOC restructuring unless it identifies
additional sources of liquidity to meet ongoing obligations as well
as to meet its commitments to support the CEOC restructuring.  As
noted in the earnings report, if Caesars Entertainment is unable to
obtain additional sources of cash when needed, in the event of a
material adverse ruling on one or all of its ongoing litigation
matters, or if CEOC does not emerge from bankruptcy on a timely
basis on terms and under circumstances satisfactory to Caesars
Entertainment, it is likely that Caesars Entertainment would seek
reorganization under Chapter 11 of the Bankruptcy Code.

                  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 Financial Results for 1st Qtr. 2016
------------------------------------------------------------------
Caesars Entertainment Corporation on May 5 reported first quarter
2016 results, which highlights certain GAAP and non-GAAP financial
measures on a consolidated basis.

Highlights

Net revenues for Continuing CEC increased 6.7% year-over-year to
$1.2 billion primarily attributable to growth in Caesars
Interactive Entertainment's ("CIE") social and mobile games
business and strength in hospitality offerings.

Adjusted EBITDA for Continuing CEC grew 15.9% year-over-year to
$349 million.

Net revenues for CIE increased 28.8% year-over-year to $228 million
and adjusted EBITDA grew 41.3% to $89 million due to organic growth
in social and mobile games resulting from greater monetization of
monthly unique paying users.

Cash ADR in Las Vegas rose 9.4% driven by increased resort fees,
improved hotel yield and greater pricing power as a result of the
recapitalization of room product.

"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 Mr. Frissora.

Summary Financial Data

The results of CEOC and its subsidiaries are no longer consolidated
with Caesars subsequent to CEOC and certain of its United States
subsidiaries (the "Debtors") voluntarily filing for reorganization
under Chapter 11 of the United States Bankruptcy Code (the
"Bankruptcy Code") on January 15, 2015.

First Quarter 2016 Financial Results

The Company views each casino property and CIE as operating
segments and currently aggregate all such casino properties and CIE
into three reportable segments based on management's view of these
properties which aligns with their own ownership and underlying
credit structures: CERP, Caesars Growth Partners Casino Properties
and Developments ("CGP Casinos"), and CIE.  CGP Casinos is
comprised of all subsidiaries of CGP excluding CIE.  CIE is
comprised of the subsidiaries that operate CGP's social and mobile
games operations, regulated online real money gaming, and the World
Series of Poker ("WSOP").  CEOC was a reportable segment until its
deconsolidation effective January 15, 2015.

Segment results in this release are presented consistent with the
way Caesars management assesses these results and allocates
resources, which is a consolidated view that adjusts for the impact
of certain transactions between reportable segments within Caesars.
Accordingly, the results of certain reportable segments presented
in this filing differ from the financial statement information
presented in their stand-alone filings.  "Other" includes parent,
consolidating, and other adjustments to reconcile to consolidated
Caesars results.  All comparisons are to the same period of the
previous year.

CERP

CERP owns and operates six casinos in the United States and The
LINQ promenade, along with leasing Octavius Tower at Caesars Palace
Las Vegas to CEOC and gaming space at The LINQ promenade to CGP.

Net revenues for the first quarter of 2016 were $528 million, flat
compared with the prior year as lower gaming revenues were offset
by hotel revenue growth as well as other revenue increases driven
by the Harrah's Atlantic City Waterfront Conference Center (the
"Atlantic City Conference Center"), located adjacent to Harrah's
Atlantic City.  Construction disruption affected revenues at
Harrah's Las Vegas as the Company had a number of rooms out of
service from the renovations taking place at the property.  Casino
revenues were $272 million, down 3.9% from the prior year due to
lower slot volumes at our non-Las Vegas properties and Harrah's Las
Vegas.  Room revenues rose 5.4% in the quarter to $136 million
mainly due to resort fees and improved hotel yield, which drove a
10.6% increase in cash ADR. Food and beverage revenues were $134
million, up 1.5%.

Income from operations was $78 million.  Adjusted EBITDA decreased
2.5% to $158 million mainly due to lower gaming revenues and higher
labor expenses, which more than offset the benefits from marketing
efficiencies and improved hotel customer mix.  A meaningful portion
of the increase in labor expenses was related to the ramp up of the
Atlantic City Conference Center.   Hold was estimated to have a
positive adjusted EBITDA impact of approximately $0 million to $5
million in the quarter relative to our expectation and there was
minimal impact to adjusted EBITDA when comparing to the prior year
period.

CGP Casinos

CGP Casinos owns and operates six casinos in the United States,
primarily in Las Vegas.

Net revenues for the first quarter of 2016 were $416 million, a
6.7% increase primarily attributable to strong hotel revenues from
The LINQ Hotel & Casino due to the renovations completed in the
second quarter of 2015 as well as increases in entertainment
revenue at Planet Hollywood.  Casino revenues were $258 million,
relatively flat from the prior year mainly due to lower gaming
volumes at Harrah's New Orleans as a result of the smoking ban that
went into effect in local bars, restaurants and casinos citywide on
April 22, 2015.  Room revenues increased 25.7% in the quarter to
$93 million as a result of an increase in total rooms available at
The LINQ Hotel & Casino and resort fees. Food and beverage revenues
were $72 million, up 5.9%.

Income from operations was $63 million.  Adjusted EBITDA increased
23.5% to $105 million mainly due to net revenue increases and
efficiency initiatives.  Hold was estimated to have a minimal
impact to adjusted EBITDA in the quarter relative to The Company's
expectation and an unfavorable impact of approximately $0 million
to $5 million to adjusted EBITDA when comparing to the prior year
period.

CIE

CIE owns and operates (1) an online games business providing social
and mobile games, (2) regulated online real money gaming and (3)
the WSOP tournaments and brand.

Net revenues for the first quarter of 2016 were $228 million, a
28.8% increase. Income from operations was $54 million and adjusted
EBITDA increased 41.3% to $89 million.  The increase in revenue and
adjusted EBITDA was driven primarily by the continued focus on
conversion and monetization of users to increase revenue per user.

CEOC

CEOC owns and operates 19 casinos in the United States and nine
internationally, most of which are located in England, and managed
15 casinos, which included the six CGP casinos and nine casinos for
unrelated third parties.  Effective October 2014, substantially all
of our properties are managed by CES (and the remaining properties
will be transitioned upon regulatory approval).

CES is a joint venture among CERP, CEOC, and a subsidiary of CGP
that provides certain corporate and administrative services to
their casino properties.

Balance Sheet and Other Items

Cash and Available Revolver Capacity

CEC is primarily a holding company with no independent operations,
employees, or material debt issuances of its own.  CEC's primary
assets as of March 31, 2016, consist of $218 million in cash and
cash equivalents and its ownership interests in CEOC, CERP and CGP.
Each of the subsidiary entities comprising Caesars Entertainment's
consolidated financial statements have separate debt agreements
with restrictions on usage of the respective entity's capital
resources.  CGP is a variable interest entity that is consolidated
by Caesars Entertainment, but is controlled by its sole voting
member, Caesars Acquisition Company ("CAC"). CAC is a managing
member of CGP and therefore controls all decisions regarding
liquidity and capital resources of CGP.  CEC has limited cash
available to meet its financial commitments, primarily resulting
from significant expenditures made to defend against litigation
related to the CEOC restructuring and to support a plan of
reorganization for CEOC.  While the cash forecast at CEC currently
contemplates liquidity to be sufficient through the end of the
year, the CEC cash balance will be consumed by expenses associated
with the CEOC restructuring unless the Company identifies
additional sources of liquidity to meet CEC's ongoing obligations
as well as to meet its commitments to support the CEOC
restructuring.  If CEC is unable to obtain additional sources of
cash when needed, in the event of a material adverse ruling on one
or all of our ongoing litigation matters, or if CEOC does not
emerge from bankruptcy on a timely basis on terms and under
circumstances satisfactory to CEC, it is likely that CEC would seek
reorganization under Chapter 11 of the Bankruptcy Code.

A detailed copy of the Company's financial results for the first
quarter 2016 is available for free at http://is.gd/0l0cmD

                  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.


CARLBROOK SCHOOL: Bankruptcy Judge Approves Sale of Property
------------------------------------------------------------
The future of the former Carlbrook School property is looking
brighter after a U.S. Bankruptcy Court judge in Roanoke approved
the sale of Carlbrook's real estate and personal property on
Monday, May 2.  

Carlbrook was headed for an absolute auction of the 191-acre
campus, as well as all of its personal property, with Woltz &
Associates hired to conduct the sale of the property.  Woltz
brokered the transaction of the sale.  

"This was a big win for Halifax County and the Southern Virginia
region," said Jim Woltz, president of the auction company.  "The
new owners will do great things with the property, give a renewed
future for the facility, and create employment opportunities for
the area."   

The new owner is New Boston, LLC, a subsidiary of Acadia
Healthcare, Inc., Franklin Tennessee.  Acadia Chief Development
Officer Steve Davidson said, "We are excited to be a part of the
community.  We have not decided what type of program that will be
housed at the location and would discuss plans and options with the
appropriate, city, county, and state officials prior to making any
public announcements.  Furthermore, we do not have specific timing
on those discussions or when plans will be finalized."   

Woltz and Associates worked closely with Matt Leonard, director of
economic development of the Halifax Industrial Development
Authority (IDA).  "We appreciate Acadia's interest in investing in
the Carlbrook project, as well as Woltz's work in connecting them
to the Carlbrook property.  We look forward to continuing to
develop the project with them to everyone's benefit," said Mr.
Leonard.

Woltz and Associates, based in Roanoke, is a real estate brokerage
and auction company.

The Carlbrook School, LLC was a small coeducational boarding school
in southern Virginia for underachieving students aged fifteen to
eighteen.


CCNG ENERGY: Trinity Environmental Acquires Assets & Operations
---------------------------------------------------------------
Trinity Acquisition, LLC on May 6 disclosed that it has acquired
substantially all assets and operations of CCNG Energy Partners,
LP, a diversified oilfield waste disposal company with assets
located throughout Texas and New Mexico.

The assets, which were acquired out of CCNG Energy Partners'
Chapter 11 bankruptcy, include 27 saltwater disposal facilities and
two non-hazardous E&P waste facilities located primarily in the
Permian Basin and Eagle Ford Shale.  The company will continue to
operate as Trinity Environmental Services, the brand under which
these assets have historically operated.  Trinity, which is
financially backed and wholly owned by funds managed or advised by
an affiliate of Guggenheim Partners, holds substantial liquidity
and no third-party debt at closing.

"We are excited to grow and enhance this unique platform, and to
continue providing high quality service to our customers," stated
Diego Rubio, President of Trinity Environmental Services.  "We
believe that our diverse footprint throughout the country's most
prolific basins and our strong balance sheet will allow for
long-term stability and growth."

Chris Boyle, Managing Director at Guggenheim Partners, stated,
"Guggenheim is very pleased to partner with the Trinity team.  We
feel that this unique platform, experienced management team, and
debt-light capital structure will position Trinity as the premier
provider of oilfield waste disposal services."

               About Trinity Environmental Services

Trinity Environmental Services is diversified oilfield waste
disposal company based in Austin, TX.  Trinity offers oilfield
waste water and E&P waste disposal solutions throughout Texas and
New Mexico.

                       About CCNG Energy

CCNG Energy Partners, L.P., et al., are engaged in the business of
(a) disposing of non-hazardous oil and gas exploration and
production waste, such as mud cuttings and other solid oilfield
waste along with waste water produced during the hydraulic
fracturing and production processes, (b) truck and oilfield
equipment cleaning services, and (c) selling recovered oil and
brine.

CCNG Energy Partners, L.P. (the "Parent"), CCNG Energy Partners GP,
L.L.C. ("CCNG GP"), Trinity Environmental SWD, L.L.C., Trinity
Environmental Catarina SWD, L.L.C., Trinity Environmental Titan
Trucking, L.L.C., Moss Bluff Property, L.L.C. and Trinity
Environmental Services, L.L.C. (collectively, the "Operating
Subsidiaries") filed Chapter 11 bankruptcy petitions (Bankr. W.D.
Tex. Proposed Lead Case No. 15-70136) on Oct. 12, 2015.  The
petition was signed by Daniel B. Porter as CEO of General Partner.

All of the Debtors' operations are performed by the Operating
Subsidiaries.

The Debtors estimated both assets and liabilities in the range of
$100 million to $500 million.

The Debtors were initially represented by Taube Summers Harrison
Taylor Meinzer Brown LLP.  After the firm's merger with Waller
Lansden Dortch & Davis, LLP, the Debtors have hired Waller Lansden
as counsel.

Judge Ronald B. King is assigned to the case.

The Debtors are engaged in the disposal of produced saltwater and
waste from the exploration and production of oil and gas.

In 2015, the Office of the U.S. Trustee appointed six creditors to
the official committee of unsecured creditors.  The creditors are
Sun Coast Resources Inc., KBK Industries, Sabine Storage &
Operations Inc., Cambrian Management Ltd., WLP Oilfield Services,
and Dolphin Services & Chemicals LLC.


CENTRAL STATES PENSION: U.S. Treasury Denies Pension Rescue Plan
----------------------------------------------------------------
On May 6, 2016, the U.S. Department of the Treasury notified
Central States Pension Fund that its proposed pension rescue plan
has been denied.  A copy of the communication from Treasury is
available on its Web site http://www.cspensionrescue.com/

"Although the decision by our Trustees to file this application
under provisions of the Multiemployer Pension Reform Act of 2014
(MPRA) was gut wrenching, we are disappointed with Treasury's
decision, as we believe the rescue plan provided the only realistic
solution to avoiding insolvency," Central States Pension Fund
said.

"The Central States Pension Fund Trustees will carefully consider
the most appropriate next steps, based on this denial and the final
guidance issued by Treasury on April 26.

"Central States Pension Fund remains in critical and declining
status and is projected to run out of money within ten years, or
even less.  Because the Pension Benefit Guaranty Corporation
(PBGC), the government's pension insurance program, is also
projected to run out of money, [Fri]day's decision means that,
absent legislative action or an approved rescue plan, Central
States participants could see their pension benefits reduced to
virtually nothing.

"Many Members of Congress, both in the Senate and House, have been
vocal in calling for Treasury to reject our proposed pension rescue
plan.  Central States strongly urges these Members to act now to
pass legislation that protects the pension benefits of the over
400,000 participants of Central States Pension Fund—something
Congress and the White House did not do when we previously proposed
a remedy in 2009 and 2010.

"The International Brotherhood of Teamsters, AARP and the Pension
Rights Center, all of whom urged rejection of our proposed pension
rescue plan, now must move beyond talk and take action to secure
the funding needed to protect the pensions of all current and
future Central States Pension Fund participants and beneficiaries.

"We understand the uncertainty and anxiety that our participants
and beneficiaries may be experiencing as this process continues.  
As always, our goal is to ensure that the Fund is able to continue
to pay future benefits."


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

         Debtor                                     Case No.
         ------                                     --------
         Chaparral Energy, Inc.                     16-11144
         701 Cedar Lake Blvd.
         Oklahoma City, OK 73114

         CEI Acquisition, L.L.C.                    16-11146
         Chaparral Exploration, L.L.C.              16-11147
         CEI Pipeline, L.L.C.                       16-11148
         Chaparral Real Estate, L.L.C.              16-11149
         Chaparral Biofuels, L.L.C.                 16-11150
         Chaparral Resources, L.L.C.                16-11151
         Chaparral CO2, L.L.C.                      16-11152
         Green Country Supply, Inc.                 16-11153
         Chaparral Energy, L.L.C.                   16-11154
         Roadrunner Drilling, L.L.C.                16-11155

Type of Business: Operates as an independent oil and natural gas
                  exploration and production company in the United

                  States.

Chapter 11 Petition Date: May 9, 2016

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Debtors' Counsel: Mark D. Collins, Esq.
                  RICHARDS, LAYTON & FINGER, P.A.
                  One Rodney Square
                  920 North King Street
                  Wilmington, DE 19801
                  Tel: 302 651-7700
                  Fax: 302-651-7701
                  Email: collins@RLF.com

                      - and -

                  LATHAM & WATKINS LLP

Debtors'          EVERCORE GROUP LLC
Investment
Banker:

Debtors'          OPPORTUNE LLP
Business
Advisor:

Estimated Assets: $50 million to $100 million

Estimated Debts: $1 billion to $10 billion

The petition was signed by Mark A. Fischer, chief executive
officer.

Conasolidated List of Debtors' 30 Largest Unsecured Creditors:

   Entity                          Nature of Claim   Claim Amount
   ------                          ---------------   ------------
Wilmington Savings                  7.625% Senior    $525,910,000
Fund Society, FSB                   Notes Due 2022
501 Carr Road
Wilmington, DE 19809
Patrick J. Healy, VP and
Director
Tel: 302-888-7420
Fax: 302-421-9137

Wilmington Savings                  8.25% Senior     $384,045,000
Fund Society, FSB                  Notes Due 2021
501 Carr Road
Wilmington, DE 19809
Patrick J. Healy, VP and
Director
Tel: 302-888-7420
Fax: 302-421-9137

Wilmington Savings                  9.875% Senior    $298,000,000
Fund Society, FSB                   Notes Due 2020
501 Carr Road
Wilmington, DE 19809
Patrick J. Healy, VP and
Director
Tel: 302-888-7420
Fax: 302-421-9137

Oklahoma Energy                     Working Interest/  $1,264,400

Acquisitions LP                        Royalty
15021 Katy Freeway Ste 400
Houston, TX 77094
Tel: 281-530-0991
Fax: 281-530-5278

Blue Cross Blue Shield             Health Insurance      $675,000
of Oklahoma
1215 South Boulder
Tulsa, OK 74102-3283
Tel: 405-841-9514
Fax: 405-841-9575

Fidelity Investments                   401K Plan         $400,000
One Destiny Way
Westlake, TX 76262
Tel: 800-448-0539
Fax: 817-474-5031

JBD Oklahoma LLC                   Working Interest/     $301,000
PO Box 1497                            Royalty
Pawhuska, OK 74056
Gary Strahan
Tel: 918-287-3926

Warrior Exploration & Prod LLC      Working Interest     $232,800
                                        Royalty

Trek Resources Inc.                 Working Interest/    $222,600
                                        Royalty

Chesapeake Exploration LLC          Working Interest/    $209,600
                                        Royalty

Cynthia C Davis                     Working Interest/    $202,400
                                        Royalty

Herber Family LLC                   Working Interest/    $181,200
                                        Royalty

Red Mountain Energy LLC             Working Interest/    $146,900
Email: iholman@redmountain              Royalty
energy.net

Eagle Road Oil LLC                  Working Interest/    $134,200
                                        Royalty

Tiptop Oil & Gas US LLC             Working Interest/    $118,100
                                        Royalty

XTO Energy Inc.                     Working Interest/    $104,000
                                        Royalty

Natural Gas Anadarko Company Inc.   Working Interest/    $103,100
                                        Royalty

M&M Supply Company                     Trade Debt        $107,612

Sun Resources, Inc.                    Trade Debt         $84,867

Tech Management LLC                    Trade Debt         $70,824

Solomon Corporation                    Trade Debt         $69,165

Public Service Co of Oklahoma          Trade Debt         $67,181

Quick Pump Service LLC                 Trade Debt         $53,950
Email: quickpump@pldi.net

Simons Petroleum LLC                   Trade Debt         $49,103

Meador Industries LP                   Trade Debt         $43,332

Bulldog Chemicals LLC                  Trade Debt         $42,917

GE Oil & Gas ESP Inc.                  Trade Debt         $41,594

Bostick Services Corp.                 Trade Debt         $41,550

Bachman Services Inc.                  Trade Debt         $40,800

Arrow Pump & Supply of                 Trade Debt         $40,621
Seminole LLC


CHAPARRAL ENERGY: Files Voluntary Chapter 11 Bankruptcy Petition
----------------------------------------------------------------
Chaparral Energy LLC, on May 9 disclosed that it has voluntarily
filed petitions for relief under Chapter 11 of the U.S. Bankruptcy
Code in the U.S. Bankruptcy Court of Delaware.  The Chapter 11
filing will facilitate the restructuring of the company's balance
sheet, as it continues to work through negotiations of a debt to
equity exchange with its bondholders and lenders with the objective
of reducing its bondholder debt by approximately $1.2 billion.

"The dramatic decrease in oil and natural gas prices over the last
two years has presented numerous challenges for the industry as a
whole.  Chaparral continues to believe in the outstanding potential
of our employees and our Mid-Continent assets and EOR programs.
The continued depressed price environment, however, coupled with
our existing debt levels have severely limited the company's
overall operational ability," said Chief Executive Office Mark
Fischer.  "By significantly reducing our debt and restructuring our
balance sheet, Chaparral will be better positioned to not only
weather this down environment, but also increase our long-term
financial security and better position us for long-term success."

Chaparral has filed a series of motions with the court that, when
granted, will enable the company to maintain its operations as
usual, without interruption throughout the restructuring process.
Included in these first day motions are requests to continue to pay
employee wages, honor existing employee benefit programs and pay
royalties to mineral owners under the terms of the applicable
agreements.

The company has also filed motions seeking authority to pay
expenses associated with production operations and drilling and
completion activities, as well as costs associated with gathering,
processing, transportation, marketing and those related to joint
interest billing for non-operated properties.

Latham & Watkins LLP is serving as legal counsel and Evercore has
been engaged as financial advisor to Chaparral.  Opportune LLP is
the company's restructuring advisor.

                        About Chaparral

Founded in 1988, Chaparral Energy, Inc. is a Delaware corporation
headquartered in Oklahoma City and a pure play Mid-Continent
independent oil and natural gas exploration and production
company.

The Company has capitalized on its sustained success in the
Mid-Continent area in recent years by expanding its holdings to
become a leading player in the liquids rich STACK play, which is
home to multiple oil-rich reservoirs including the Oswego, Meramec,
Osage, Woodford and Hunton formations.  In addition, the Company
has significant holdings in the Mississippi Lime play and a
leadership position in CO2 EOR where the Company is now the third
largest CO2 EOR operator in the United States based on the number
of active projects.  This EOR position is underscored by the
Company's activity in the North Burbank Unit in Osage County,
Oklahoma, which is the single largest oil recovery unit in the
state.

Chaparral Energy reported a net loss of $1.33 billion on $324.31
million of total revenues for the year ended Dec. 31, 2015,
compared to net income of $209 million on $682 million of total
revenues for the year ended Dec. 31, 2014.  As of Dec. 31, 2015,
Chaparral Energy had $1.20 billion in total assets, $1.82 billion
in total liabilities and a total stockholders' deficit of $620
million.

The Company's auditors Grant Thornton LLP, in Oklahoma City,
Oklahoma, issued a "going concern" qualification on the
consolidated financial statements for the year ended Dec. 31, 2015,
citing that the Company incurred a net loss of approximately $1,334
million during the year ended Dec. 31, 2015, and as of that date,
the Company's current liabilities exceeded its current assets by
approximately $1,522 million and its total liabilities exceeded its
total assets by approximately $620 million.  Also, subsequent to
Dec. 31, 2015, the Company is in default on its debt obligations.
These conditions, along with other matters, raise substantial doubt
about the Company's ability to continue as a going concern.


CHC GROUP: Bankruptcy Court Approves First Day Motions
------------------------------------------------------
CHC Group on May 9, 2016 disclosed that it has received approval
from the United States Bankruptcy Court for the Northern District
of Texas for its First Day motions related to its voluntary Chapter
11 reorganization.  Collectively, the First Day orders issued by
the Court will help CHC continue to operate its business in the
normal course while the Company works to restructure its balance
sheet and fleet.
  
The Court approved motions giving CHC authority to, among other
things, provide employee salaries, healthcare coverage and other
benefits; access its cash and cash collateral and continue its
current cash management system; and maintain and honor customer
deposits in the normal course throughout the court-supervised
restructuring process.
  
CHC expects day-to-day operations to continue without interruption
throughout the 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:
  
"The Court's approval of our first day motions is another positive
step forward in our efforts to restructure our balance sheet and
fleet, and should provide our customers, suppliers, and employees
with confidence in CHC's ability to continue normal business
operations worldwide throughout this court-supervised
reorganization process.  We remain committed to delivering safe and
reliable service to our customers.  We also appreciate the ongoing
partnership of our customers and suppliers, and thank our employees
for their continued dedication.  Our objective is to establish a
competitive capital and operating structure, enabling CHC to remain
a world class helicopter service provider -- one that continues to
set the standard for safety, customer service and value across the
industry."
  
As previously announced, on May 5, 2016, the Company and certain of
its wholly-owned subsidiaries 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.
  
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: Meeting to Form Creditors' Panel Set for May 13
----------------------------------------------------------
William T. Neary, United States Trustee for Region 6, will hold an
organizational meeting on May 13, 2016, at 11:00 a.m. in the
bankruptcy case of CHC Group Ltd.

The meeting will be held at:

         Office of the U. S. Trustee
         Earl Cabell Federal Building
         1100 Commerce Street, Room 524
         Dallas, Texas 75242

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

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

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


CHC GROUP: Receives Preliminary Access to Cash
----------------------------------------------
Stephanie Gleason, writing for Dow Jones' Daily Bankruptcy Review,
reported that CHC Group Ltd. received permission to spend the cash
securing its lenders' debt over some creditor protests during the
helicopter company's first bankruptcy-court appearance.

According to the report, a bankruptcy judge approved the request to
access cash-on-hand on a temporary basis, setting a final hearing
for June 6, at the end of the five-hour hearing on this and several
other administrative matters.  Lenders at the hearing argued that
because CHC has cash that isn't part of the collateral package
securing their debt, the company should use that money first, but
Judge Barbara Houser of the U.S. Bankruptcy Court in Dallas ruled
that lenders are adequately protected and that with only narrow and
temporary permission to spend, the company can't get "too far out
of line," the report related.

CHC Group Ltd. and 42 of its wholly-owned subsidiaries each filed a
voluntary petition for relief under Chapter 11 of the Bankruptcy
Code in the U.S. Bankruptcy Court for the Northern District of
Texas on May 5, 2016 (Bankr. N.D. Tex., Case No. 16-31854), saying
they can no longer bear the weight of their current capital
structure and fleet expenses.  The Debtors decided to seek Chapter
11 protection to take advantage of the "breathing spell" afforded
by the automatic stay as they continue to negotiate and work with
their creditors and lessors to develop a proposal to restructure
their fleet and balance sheet.

The case is assigned to Judge Stacey G. Jernigan.

The Debtors' counsel is Stephen A. Youngman, Esq., Weil, Gotshal &
Manges, LLP, in Dallas, Texas, and Gary Holtzer, Esq., and Kelly
DiBlasi, Esq., at Weil, Gotshal & Manges LLP, in New York.  The
Debtors' special aircraft counsel is Debevoise & Plimpton LLP.  PJT
Partners LP serves as investment banker, while Seabury Corporate
Advisors LLC serves as financial advisor.  CDG Group, LLC, serves
as restructuring advisor.


CINQUE TERRE: Seeking U.S. Recognition of BVI Liquidation
---------------------------------------------------------
Stuart Mackellar, solely in his capacity as the duly appointed
liquidator of Cinque Terre Financial Group Limited, filed a Chapter
15 bankruptcy petition in the U.S. Bankruptcy Court for the
Southern District of New York, seeking recognition in the United
States of a Liquidation proceeding pending in British Virgin
Islands.

The Company undergoing liquidation before the Eastern Caribbean
Supreme Court High Court of Justice, Virgin Islands Commercial
Division, in the British Virgin Islands, claim number BVIHC (COM)
139 of 2015, pursuant to Section 162 of the British Virgin Islands
Insolvency Act of 2003.  The Liquidator was appointed by the BVI
Court to administer Cinque Terre's assets, liabilities, and any
ongoing business.

The Liquidator petitions for recognition of the BVI Liquidation
primarily to obtain the Bankruptcy Court's assistance to
investigate the activities of the directors and management of
Cinque Terre taken in various jurisdictions including but not
limited to Switzerland, the United States and Central America.
This, the Liquidator said, will be accomplished by obtaining
critical discovery from persons and entities located within the
United States, staying litigation against Cinque Terre pending in
this District, and, potentially, prosecuting claims belonging to
Cinque Terre against defendants in the United States.

Eugene F. Getty, Esq., at Kellner Herlihy Getty & Friedman, LLP,
attorney for the Liquidator, said Cinque Terre has in excess of $80
million in known creditor claims, four financial institutions with
security interests and charges entered in the BVI corporate
registry, and is subject to orders of attachment in respect of its
assets in the Centauro Litigation.  According to Mr. Getty, tens of
millions of dollars of receivables and product that creditors were
led to believe existed have either vanished or never existed, and
Cinque Terre's Chief Financial Officer, Richard Rothenberg, a Ft.
Lauderdale, Florida resident, has stated in writing that he has no
knowledge of the Cinque Terre's assets and that documents, books
and records concerning Cinque Terre were intentionally sent from
the United States to Venezuela.

                          BVI Liquidation

On Nov. 17, 2015, Pegasus Oil Trading Limited, made an application
to the BVI Court for an order under the 2003 Act placing Cinque
Terre in liquidation and for the appointment of a liquidator.  In
its application, Pegasus alleged that, in May 2013, it had entered
into a memorandum of understanding with Cinque Terre and another
party for the purpose of selling bunker fuel in the area of the
Panama Canal.  Cinque Terre apparently was responsible for selling
bunker fuel to Pegasus and for delivering the fuel to vessels as
directed by Pegasus.  Thereafter, in April 2014, the parties
entered into a joint venture agreement regarding their
transaction.

According to Pegasus, Cinque Terre defaulted on its obligation to
pay invoices associated with the storage of the fuel that was to be
delivered pursuant to the joint venture, and then defaulted on its
obligations to fund a portion of the losses of the joint venture.
Pegasus filed its liquidation application because Cinque Terre was
not paying its debts as they came due.

The hearing on Pegasus' application was adjourned until April 11,
2016.  During the interim period another creditor of Cinque Terre,
RB International Finance (USA) LLC, filed an application to
intervene in and be substituted as applicant.  According to RB
International, on July 21, 2014, it entered into a line letter
agreement with Cinque Terre, a continuing agreement for letters of
credit, a promissory note in the original face amount of US$20
million and a general security agreement by which RB International
provided Cinque Terre with a credit facility of up to $20 million
usable for short term advances or the issuance of standby and
commercial letters of credit.

The RB International Loan was secured by a perfected security
interest on all of Cinque Terre's personal and fixed assets.  RB
International, BNPP Suisse S.A., and Credit Suisse S.A. each
registered charges and security interests in respect of Cinque
Terre in the BVI Corporate Registry in 2014.  RB International acts
on BNPP and Credit Suisse's behalf pursuant to an inter-creditor
agreement between and amongst RB International, BNPP
and Credit Suisse.

According to RB International, by Oct. 21, 2015, it had advanced in
excess of $16.1 million in principal to Cinque Terre under the RB
International Loan.  On Nov. 18, 2015, Cinque Terre also assigned
to RB International all of its interest in the contract to purchase
the Bunkers, including all interest in the Bunkers, with the
understanding that, upon the sale of the Bunkers, the proceeds
would be applied to reduce the amount Cinque Terre owed under the
RB International Loan.

According to RB International, in January 2016, Cinque Terre
defaulted on its obligations to make payments under the RB
International Loan, and RB International issued notices of default.
When RB International requested that Cinque Terre turn over the
Bunkers to it, Cinque Terre informed RB International that it was
unable to do so because of a purported global prejudgment
attachment order issued in connection with a litigation pending in
the United States District Court for the Southern District of New
York styled Centauro Liquid Opportunities Master Fund, L.P. v.
Alessandro Bazzoni, et al., case no. 15-cv-9003 (LTS) (the
"Centauro Litigation").

                       Centauro Litigation

Cinque Terre currently is a defendant in the Centauro Litigation.
The complaint in the Centauro Litigation asserts that, in 2009,
Cinque Terre and Centauro entered into a joint venture by which
Centauro financed oil transactions to be sourced and executed by
Cinque Terre, the profits of which were to be shared 50-50 by each
party to the joint venture.  The complaint further alleges that
Centauro funded a total of 26 transactions between October 2010 and
January 2012, but that by January 2014, Cinque Terre had defaulted
on its obligation to provide Centauro with returns on completed
ransactions.  On or about May 21, 2015, Cinque Terre executed a
promissory note in favor of Centauro in the amount of $21,092,213
plus interest for amounts due to Centauro, and agreed to make
monthly payments of $500,000.  Cinque Terre, however, immediately
defaulted when it failed to make the first payment when it came
due.

The complaint alleges claims for breach of contract, fraud,
fraudulent inducement, conversion and unjust enrichment against
Cinque Terre and certain other companies that the plaintiff,
Centauro, alleges are alter egos of Mr. Bazzoni.  A single New York
counsel has represented Cinque Terre, a Cinque Terre affiliate and
Mr. Bazzoni in the Centauro Litigation since its inception.

On March 29, 2016, RB International filed a motion to intervene in
the Centauro Litigation.  In its April 4, 2016, response to RB
International's motion, Centauro confirmed that its attachment did
not apply to the Bunkers.

According to RB International, when it confirmed to Cinque Terre
that it had resolved the purported global attachment issue in
regard to the Bunkers and sought their immediate turnover, Cinque
Terre failed to provide it with any information concerning the
current location and status of the Bunkers.

                        About Cinque Terre

Cinque Terre is a limited liability company formed on or about
March 12, 2008, under the laws of the BVI.  At all material times,
Cinque Terre maintained its registered office at Craigmuir
Chambers, Road Town, Tortola, British Virgin Islands.

Before the commencement of the BVI Liquidation, Cinque Terre
purports to have been engaged in the business of international oil
transactions.  This business may have included purchasing and
selling oil and bunker (marine) fuel for resale to end users or to
brokers, investing in hedging transactions and other derivatives
related to fuel/oil sales and providing trading and logistics
support in connection with international oil/bunker fuel sales.  In
some cases, Cinque Terre appears to have entered into joint
ventures with trading partners or investors to finance its
activities, while in other cases Cinque Terre appears to have
obtained financing for its investments.


COMBIMATRIX CORP: Reports First Quarter 2016 Financial Results
--------------------------------------------------------------
CombiMatrix Corporation reported a net loss attributable to common
stockholders of $3.13 million on $2.97 million of total revenues
for the three months ended March 31, 2016, compared to a net loss
attributable to common stockholders of $2.65 million on $2.32
million of total revenues for the same period in 2015.

As of March 31, 2016, the Company had $11.20 million in total
assets, $2.52 million in total liabilities and $8.68 million in
total stockholders' equity.

"We are reporting another exceptional quarter of financial
progress, with 28% revenue growth, expanded gross margin, increased
cash collections and well managed operating expenses," said Mark
McDonough, CombiMatrix President and CEO.  "Our growth was driven
by a 39% increase in reproductive health revenue on an 18% increase
in test volume, reflecting higher average revenue per test.  We are
particularly pleased with our performance in miscarriage analysis
testing, with revenues up 43% on 13% test volume growth.  We also
benefited from better productivity from our newer sales
representatives, which contributed to an 18% increase in our
customer base.

"We anticipate that various industry dynamics will favorably impact
our business," he added.  "In March, the two leading associations
in women's healthcare, the American College of Obstetricians and
Gynecologists (ACOG) and the Society for Maternal-Fetal Medicine
(SMFM), issued revised practice bulletins recommending that all
women regardless of age or other risk factors are offered prenatal
genetic testing.  These bulletins reiterated the need to perform
confirmatory testing when screening tests reveal positive results
for fetal abnormalities. Additionally, a number of health plans,
including Cigna and several in the Blue Cross Blue Shield network,
have recently revised their medical policies to cover chromosomal
microarray testing for recurrent pregnancy loss.  We believe that
more health plans will follow suit based on the growing clinical
support for this valuable patient information.

"We are firmly focused on growth and a path toward profitability,
supported by tight execution of our business strategy," said Mr.
McDonough.  "This year we plan to expand our IVF testing portfolio
and expect to increase physician adoption through more clinical
validation, improved marketing developed from the insights from our
newly appointed Scientific Advisory Board, and greater productivity
from our sales organization.  We also are seeking opportunities to
build upon our leadership position in the growing reproductive
health diagnostics market and enhance shareholder value through
partnerships and other business development alternatives.  With the
completion of an $8 million financing in late March, we are well
positioned to execute on our plans."

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

                      http://is.gd/tiQbAW

                        About Combimatrix

Combimatrix specializes in pre-implantation genetic screening,
miscarriage analysis, prenatal and pediatric healthcare, offering
DNA-based testing for the detection of genetic abnormalities beyond
what can be identified through traditional methodologies.  Its
clinical lab and corporate offices are located in Irvine,
California.

Combimatrix reported a net loss of $6.60 million in 2015 compared
to a net loss of $8.70 million in 2014.  

Haskell & White LLP, in Irvine, California, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has limited
working capital and a history of incurring net losses and net
operating cash flow deficits.  These conditions raise substantial
doubt about the Company's ability to continue as a going concern.


CROWN MEDIA: Hallmark Cards Owns 100% of Class A Shares
-------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Hallmark Cards, Incorporated, et al., disclosed that as
of May 2, 2016, they beneficially own 1,000 shares of Class A
common stock of Crown Media Holdings, Inc., representing 100
percent of the shares outstanding.

On May 2, 2016, CM Merger Co. ("Merger Sub") filed a certificate of
ownership and merger with the Secretary of State of the State of
Delaware, consummating the planned short-form merger at which
time:

  -- Merger Sub was merged with and into Crown Media, with the
     Crown Media as the Surviving Corporation;

  -- Crown Media became a wholly-owned direct subsidiary of HCC
     and, thereby, a wholly-owned indirect subsidiary of Hallmark
     Cards; and

  -- each issued and outstanding share of Crown Class A common
     stock, par value $0.01 per share (except for shares of Common
     Stock (i) held by stockholders of Crown who properly exercise
     their statutory appraisal rights under Section 262 of the
     General Corporation Law of the State of Delaware and (ii)
     held by any of the Reporting Persons or Merger Sub
     immediately prior to the Merger), was immediately cancelled
     and converted into the right to receive $5.05 in cash,
     without interest.

All shares of Common Stock held by the Issuer and by HCC were
extinguished, and each of the 1,000 shares of capital stock of
Merger Sub issued and outstanding was converted into one validly
issued, full paid, and non-assessable share of Class A common stock
of Crown.

The total merger consideration is estimated at $175,691,621 ($5.05
per share for the 34,790,520 shares).  Because holders of the
Common Stock may exercise their statutory appraisal rights
following closing, and there can be no assurance as to the ultimate
outcome of such proceeding, the actual merger consideration may be
more or less than the estimated amount.

No portion of the merger consideration was borrowed by any of the
Reporting Persons for the purpose of acquiring Common Stock in
connection with the Short Form Merger, nor do any of the Reporting
Persons anticipate borrowing any funds in connection therewith.

A full-text copy of the regulatory filing is available at:

                     http://is.gd/G3ebxx

                       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 Dec. 31, 2015, Crown Media had
$1.08 billion in total assets, $509 million in total liabilities
and $580 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: Shares Delisted from NASDAQ
----------------------------------------
At the request of Crown Media Holdings, Inc., NASDAQ filed a Form
25 with the Securities and Exchange Commission Commission notifying
the Commission of the delisting of Crown's Shares and the
deregistration of such Shares under Section 12(b) of the Securities
Exchange Act of 1934, as amended.  The deregistration under Section
12(b) will be effective 90 days after the Form 25 was filed or such
shorter period as the Commission may determine.  

Ten days after the Form 25 was filed, Crown also intends to file a
Form 15 with the Commission.  Crown's obligations to file periodic
reports under Section 13(a) of the Exchange Act will be suspended
immediately as of the filing of the Form 15, and all of Crown's
public company reporting obligations will terminate 90 days after
the Form 15 is filed, upon deregistration under Sections 12(g) and
15(d) of the Exchange Act.

                      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 Dec. 31, 2015, Crown Media had
$1.08 billion in total assets, $509 million in total liabilities
and $580 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.


DEERFIELD REAL ESTATE: Case Summary & 5 Unsecured Creditors
-----------------------------------------------------------
Debtor: Deerfield Real Estate Development, LLC
        1105 Lake Shore Dr
        Lake Park, FL 33403-2872

Case No.: 16-16611

Chapter 11 Petition Date: May 6, 2016

Court: United States Bankruptcy Court
       Southern District of Florida (West Palm Beach)

Judge: Hon. Erik P. Kimball

Debtor's Counsel: David K Markarian, Esq.
                  MARKARIAN FRANK & HAYES
                  2925 PGA Blvd # 204
                  Palm Beach gardens, FL 33410
                  Tel: 561-626-4700
                  E-mail: dave@businessmindedlawfirm.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Kent R. LaFleur, manager.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/flsb16-16611.pdf


DORAL FINANCIAL: Hires Garden City as Administrative Agent
----------------------------------------------------------
Doral Financial Corporation and Doral Properties, Inc. seek
authorization from the U.S. Bankruptcy Court for the Southern
District of New York to employ Garden City Group, LLC as
administrative agent.

The Debtors require Garden City to:

   (a) assist with claims reconciliation, including generating
       claim objection exhibits and cure notices;

   (b) manage the publication of legal notices;

   (c) manage the solicitation and tabulation of votes on chapter
       11 plans, including filing declarations with the Court
       setting forth the methodology and results of the
       solicitation and tabulation and testifying, if necessary,
       in support of the declarations;

   (d) launch, administer, and manage any rights offering,
       including but not limited to processing the relevant forms,

       collecting and managing payments, and making or assisting
       in the distribution of cash, securities, and/or other
       entitlements in connection with any rights offering;

   (e) manage any distributions made pursuant to confirmed Plans;
       and

   (f) provide such other related administrative services not
       otherwise specified above as the Debtors or their
       professionals may require in connection with these Chapter
       11 Cases.

Garden City will be paid at these hourly rates:

       Administrative, Mailroom and
       Claims Control                  $45-$55
       Project Administrators          $70-$85
       Project Supervisors             $95-$110
       Graphic Support &
       Technology Staff                $100-$200
       Project Managers and
       Senior Project Managers         $125-$175
       Directors and
       Asst. Vice Presidents           $200-$295
       Vice Presidents and above       $295

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

Angela Ferrante, senior vice president of Garden City, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

Garden City can be reached at:

       Angela Ferrante
       GARDEN CITY GROUP, LLC
       1985 Marcus Avenue, Suite 200
       Lake Success, NY 11042
       Tel: (631) 470-1852
       E-mail: angela.ferrante@gardencitygroup.com

                      About Doral Financial

Doral Financial Corporation is a holding company whose primary
operating asset was equity in Doral Bank.  DFC maintains offices
in New York, 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 $23,149,434 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.


DPF LEASING: Case Summary & 9 Unsecured Creditors
-------------------------------------------------
Debtor: DPF Leasing, LLC
        3325 Wilbur
        Lima, OH 45805

Case No.: 16-31511

Chapter 11 Petition Date: May 6, 2016

Court: United States Bankruptcy Court
       Northern District of Ohio (Toledo)

Judge: Hon. John P. Gustafson

Debtor's Counsel: Matthew B. Bryant, Esq.
                  MOCKENSTURM, LTD.
                  6600 Sylvania Ave, Suite 260
                  Sylvania, OH 43560
                  Tel: 419-824-4439
                  Fax: (419) 932-6719
                  E-mail: mbryant@bryantlegalllc.com

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

Estimated Liabilities: $1 million to $10 million

The petition was signed by Douglas P Fay, sole member and owner.

A list of the Debtor's 9 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ohnb16-31511.pdf


DUNMORE HOMES: Court Partially Junks Suit vs. NACIC
---------------------------------------------------
Judge Troy L. Nunley of the United States District Court for the
Eastern District of California denied Defendant North American
Capacity Insurance Company's motion for judgment on the pleadings
as to the second and third causes of action in the First Amended
Complaint The case is DUNMORE HOMES, LLC; DUNMORE LAGUNA RESERVE,
LLC; PREMIER INDEMNITY COMPANY, INC. Plaintiffs, v. NORTH AMERICAN
CAPACITY INSURANCE COMPANY, Defendant, No. 2:14-cv-02132-TLN-AC
(E.D. Calif.).

The FAC is brought by Plaintiffs Dunmore Homes, LLC, Dunmore Laguna
Reserve, LLC, and Premier Indemnity Company, Inc.

The FAC brought six causes of action: (1) declaratory relief
regarding Defendant's obligation to defend and indemnify DH and
DLR; (2) breach of contract by Defendant in failing to defend
and/or indemnify DH and DLR; (3) breach of the duty of good faith
and fair dealing, relative to Defendant's dealings with DH and DLR;
(4) violations of Cal. Bus. & Prof. Code Section 17200; (5)
equitable contribution, relative to Premier; and 6) equitable
indemnity, relative to Premier.

The Defendant moved for judgment on the pleadings as to claims two
and three.

A full-text copy of the Order dated April 19, 2016 is available at
http://is.gd/SzPcM9from Leagle.com.

Dunmore Homes, LLC, Plaintiff, is represented by Jay A.
Christofferson, Esq. -- jchristofferson@wjhattorneys.com -- Wanger
Jones Helsley PC.

Dunmore Laguna Reserve, LLC, Plaintiff, is represented by Jay A.
Christofferson, Wanger Jones Helsley PC.

Premier Indemnity Company, Inc., Plaintiff, is represented by Jay
A. Christofferson, Wanger Jones Helsley PC.

North American Capacity Insurance Company, Defendant, is
represented by Matthew Morache, Esq. -- Grimm, Vranjes & Greer,
Llp.

North American Capacity Insurance Company, Counter Claimant, is
represented by Matthew Morache, Grimm, Vranjes & Greer, Llp.

Dunmore Homes, LLC, Counter Defendant, is represented by Jay A.
Christofferson, Wanger Jones Helsley PC.

Dunmore Laguna Reserve, LLC, Counter Defendant, is represented by
Jay A. Christofferson, Wanger Jones Helsley PC.

Premier Indemnity Company, Inc., Counter Defendant, is represented
by Jay A. Christofferson, Wanger Jones Helsley PC.

North American Capacity Insurance Company, Counter Claimant, is
represented by Matthew Morache, Grimm, Vranjes & Greer, Llp.

Dunmore Homes, LLC, Counter Defendant, is represented by Jay A.
Christofferson, Wanger Jones Helsley PC.

Dunmore Laguna Reserve, LLC, Counter Defendant, is represented by
Jay A. Christofferson, Wanger Jones Helsley PC.

Premier Indemnity Company, Inc., Counter Defendant, is represented
by Jay A. Christofferson, Wanger Jones Helsley PC.

                       About Dunmore Homes

Dunmore Homes Inc. is a privately owned residential homebuilder
based in Granite Bay, California.  Michael A. Kane of Granite Bay
is Company's owner.

Based in Granite Bay, California, Dunmore Homes Inc. is a
privately-owned homebuilder.  The Company filed for Chapter 11
protection (Bankr. S.D.N.Y. Case No. 07-13533) on Nov. 8, 2007.
Maria A. Bove, Esq., and Debra I. Grassgreen, Esq., at Pachulski
Stang Ziehl & Jones LLP, represent the Debtor in its restructuring
efforts.  The Official Committee of Unsecured Creditors selected
Morrison & Foerster LLP as its counsel.

The Debtor disclosed $20,743,147 in total assets and $250,252,312
in total debts in its schedules of assets and liabilities filed
with the Court.

In January 2008, the U.S. Bankruptcy Court for the Southern
District of New York ordered the transfer of Debtor's Chapter 11
case to the U.S. Bankruptcy Court for the Eastern District of
California, Sacramento Division.  The Debtor's Plan of Liquidation
was confirmed in September 2008.


ECLIPSE AVIATION: Summary Judgment in WARN Act Suit Affirmed
------------------------------------------------------------
Judge Leonard P. Stark of the United States District Court for the
District of Delaware affirmed the Memorandum Opinion and Order
entered by The Honorable Mary F. Walrath in the adversary
proceeding styled ANNETTE VARELA and JOHN J. DIMURA, Appellants, v.
JEOFFREY L. BURTCH, Chapter 7 Trustee, Appellee, Adv. No.
09-50265-MFW (Bankr. D.Del.), Civ. No. 14-1492-LPS (D. Del.), on
cross-motions for summary judgment with respect to claims arising
under the federal Worker Adjustment and Retraining Notification Act
(the WARN Act).

The Bankruptcy Court's Order granted the Trustee's motion for
summary judgment, and denied that of Appellants, based on the
Bankruptcy Court's conclusion that the "unforeseeable business
circumstances" exception to the WARN Act applies.

A full-text copy of the Memorandum Order dated March 31, 2016 is
available at http://is.gd/5hU57Pfrom Leagle.com.

The bankruptcy case is IN RE: AE LIQUIDATION, INC., et al., Chapter
7, Debtors,Case No. 08-13031-MFW Jointly Administered (Bankr. D.
Del.).

Annette Varela, Appellant, is represented by Christopher D.
Loizides, Esq. -- loizides@loizides.com -- Loizides & Associates,
Jack A. Raisner, pro hac vice & Rene S. Roupinian, pro hac vice.

John J Dimura, Appellant, is represented by Christopher D.
Loizides, Loizides & Associates, Jack A. Raisner, pro hac vice &
Rene S. Roupinian, pro hac vice.

Jeoffrey L. Burtch, Appellee, is represented by Mark E. Felger,
Esq. -- mfelger@cozen.com -- Cozen & O'Connor.

                    About Eclipse Aviation

Albuquerque, New Mexico-based Eclipse Aviation Corporation --
http://www.eclipseaviation.com/-- manufactured six-passenger  
planes powered by two Pratt & Whitney turbofan engines.  The
Company and Eclipse IRB Sunport, LLC sought chapter 11
protection (Bankr. D. Del. Case No. 08-13031) on Nov. 25, 2008,
represented by lawyers at Allen & Overy LLP, and estimating
assets of less than $500 $500 million and debts of more than
$1 billion.

The Debtor sought to sell all of its assets pursuant to proposed
bid procedures.  The Court approved the bid procedures, with
substantial modification, on Dec. 23, 2008.  On Jan. 15, 2009,
Over and Out, Inc., and other customers, commenced an adversary
proceeding (Bankr. D. Del. Adv. Pro. No. 09-50029) asserting that
the Debtor breached its Aircraft Deposit Agreements, converted
their deposits, and breached its fiduciary duty.  On Jan. 23,
2009, the Court entered an order authorizing the sale of
substantially all of the Debtor's assets to EclipseJet Aviation
International, Inc., finding it had presented the highest and best
offer.  In conjunction with that sale, the Court directed that
$3.2 million of the sale proceeds be set held in escrow pending
resolution of the adversary proceeding.  Despite approval, the
sale to EclipseJet was never consummated.

As a result, on Mar. 5, 2009, the case was converted to a chapter
7 liquidation proceeding and Jeoffrey L. Burtch was appointed
trustee.  The Trustee renewed efforts to sell the Debtor's assets.
On Aug. 28, 2009, the Court authorized the Trustee to sell the
Debtor's assets to Eclipse Aerospace, Inc., for $20 million in
cash and a $20 million note.  Once again, as a result of the
Customers' objection to the sale, the Court directed that $3.2
million of the sale proceeds be set aside pending resolution of
the adversary proceeding.  The sale to Eclipse Aerospace, Inc.,
closed on Sept. 4, 2009.

Following the sale, the Debtors change their names to AE
Liquidation, Inc., for Eclipse Aviation Corporation) and EIRB
Liquidation, Inc., for Eclipse IRB Sunport, LLC).


ECLIPSE AVIATION: Trustee Wins $725K Judgment vs. Prudential
------------------------------------------------------------
Before the Court is a matter remanded from the District Court on
the appeal of our decision dated July 17, 2013, granting judgment
in favor of Jeoffrey L. Burtch, the chapter 7 trustee of AE
Liquidation, Inc., EIRB Liquidation, Inc., and Eclipse Aviation
Corporation, on his Complaint to avoid and recover preferential
transfers against Prudential Real Estate and Relocation Services,
Inc., and Prudential Relocation, Inc.. The District Court directed
the Court on remand to reconsider: (i) the amount of Prudential's
new value defense; and (ii) whether the Trustee is entitled to
prejudgment interest.

Judge Mary F. Walrath of the United States Bankruptcy Court for the
District of Delaware reduced Prudential's new value defense to
$56,571.37; entered judgment in favor of the Trustee for
$725,131.24, and awarded the Trustee $5,186.97 in prejudgment
interest.

A full-text copy of the Opinion dated March 29, 2016 is available
at http://is.gd/gzkOcVfrom Leagle.com.

The adversary case is JEOFFREY L. BURTCH, CHAPTER 7 TRUSTEE,
Plaintiff, v. PRUDENTIAL REAL ESTATE AND RELOCATION SERVICES, INC.,
AND PRUDENTIAL RELOCATION, INC., Defendants, Adv. No. 10-55543
(MFW)(Bankr. D. Del.).

The bankruptcy case In re: AE LIQUIDATION, INC., et al., Chapter 7,
Debtors, Case No. 08-13031 (MFW), Jointly Administered (Bankr. D.
Del.).

Jeoffrey L. Burtch, Chapter 7 Trustee, Plaintiff, is represented by
M. Claire McCudden, Esq. -- Law Office of Susan E. Kaufman, LLC,
Robert W. Pedigo, Esq. -- rpedigo@coochtaylor.com -- Cooch and
Taylor, Paula C. Witherow, Esq. -- pwitherow@coochtaylor.com --
Cooch and Taylor.

Prudential Real Estate and Relocation Services, Inc., Defendant, is
represented by Charles J. Brown, Esq. -- cbrown@gsbblaw.com --
Gellert Scali Busenkell & Brown LLC, Michael G. Busenkell, Esq. --
mbusenkell@gsbblaw.com -- Gellert Scali Busenkell & Brown LLC,
Joseph L. Clasen, Esq. -- jclasen@rc.com -- Robinson & Cole LLP.

                About Eclipse Aviation

Albuquerque, New Mexico-based Eclipse Aviation Corporation --
http://www.eclipseaviation.com/-- manufactured six-passenger  
planes powered by two Pratt & Whitney turbofan engines.  The
Company and Eclipse IRB Sunport, LLC sought chapter 11
protection (Bankr. D. Del. Case No. 08-13031) on Nov. 25, 2008,
represented by lawyers at Allen & Overy LLP, and estimating
assets of less than $500 $500 million and debts of more than
$1 billion.

The Debtor sought to sell all of its assets pursuant to proposed
bid procedures.  The Court approved the bid procedures, with
substantial modification, on Dec. 23, 2008.  On Jan. 15, 2009,
Over and Out, Inc., and other customers, commenced an adversary
proceeding (Bankr. D. Del. Adv. Pro. No. 09-50029) asserting that
the Debtor breached its Aircraft Deposit Agreements, converted
their deposits, and breached its fiduciary duty.  On Jan. 23,
2009, the Court entered an order authorizing the sale of
substantially all of the Debtor's assets to EclipseJet Aviation
International, Inc., finding it had presented the highest and best
offer.  In conjunction with that sale, the Court directed that
$3.2 million of the sale proceeds be set held in escrow pending
resolution of the adversary proceeding.  Despite approval, the
sale to EclipseJet was never consummated.

As a result, on Mar. 5, 2009, the case was converted to a chapter
7 liquidation proceeding and Jeoffrey L. Burtch was appointed
trustee.  The Trustee renewed efforts to sell the Debtor's assets.
On Aug. 28, 2009, the Court authorized the Trustee to sell the
Debtor's assets to Eclipse Aerospace, Inc., for $20 million in
cash and a $20 million note.  Once again, as a result of the
Customers' objection to the sale, the Court directed that $3.2
million of the sale proceeds be set aside pending resolution of
the adversary proceeding.  The sale to Eclipse Aerospace, Inc.,
closed on Sept. 4, 2009.

Following the sale, the Debtors change their names to AE
Liquidation, Inc., for Eclipse Aviation Corporation) and EIRB
Liquidation, Inc., for Eclipse IRB Sunport, LLC).


ELITE PHARMACEUTICALS: Appoints Davis Caskey as Director
--------------------------------------------------------
Elite Pharmaceuticals, Inc. announced that its Board of Directors
has appointed Davis S. Caskey to its board effective April 28,
2016.

Davis Caskey is the newest member of Elite's Board and brings more
than 40 years of pharmaceutical industry experience to this
position.  From 1990 until 2013, Mr. Caskey was employed by ECR
Pharmaceuticals Co., Inc., a venture that was founded in 1990 and
acquired by Hi-Tech Pharmacal in March 2009, where he served as the
operating officer.  Upon leaving ECR, Mr. Caskey formed Caskey LLC,
an umbrella company to provide consulting services to the
pharmaceutical industry and for the management of other business
interests.  While at ECR, Mr. Caskey was credited with the
establishment of ECR's sales and marketing structure, its product
distribution format, and management of the firm's internal
organization.  His responsibilities included the oversight of drug
development and regulatory filings.  A primary focus was to
conceive and develop, with the assistance of key strategic
partners, extended release formulations of products which enhance
patient compliance and safety.  Prior to ECR, Mr. Caskey was
employed by A.H. Robins for 18 years.  His experience brings
critical insight into the marketing and distribution of
pharmaceutical products in a rapid and ever changing competitive
marketplace.  Mr. Caskey attended the University of Texas (Austin)
and Lamar University, and holds bachelor's and master's degrees.

"We are delighted to welcome Davis Caskey to our Board of Directors
where his pharmaceutical industry expertise will have an invaluable
impact on the success of Elite," stated Nasrat Hakim, Elite's
Chairman of the Board.  "We look forward to his guidance and
expertise as we expand our pharmaceutical operations."

                  About Elite Pharmaceuticals

Northvale, New Jersey-based Elite Pharmaceuticals, Inc., is a
specialty pharmaceutical company principally engaged in the
development and manufacture of oral, controlled-release products,
using proprietary technology and the development and manufacture
of generic pharmaceuticals.  The Company has one product,
Phentermine 37.5mg tablets, currently being sold commercially.

Elite reported net income attributable to common shareholders of
$28.9 million on $5 million of total revenues for the year ended
March 31, 2015, compared to a net loss attributable to common
shareholders of $96.5 million on $4.6 million of total revenues for
the year ended March 31, 2014.

As of Dec. 31, 2015, the Company had $27.13 million in total
assets, $29.20 million in total liabilities, $58.42 million in
convertible preferred shares and a $60.49 million total
stockholders' deficit.


EMERALD OIL: Hires Donlin Recano as Administrative Advisor
----------------------------------------------------------
Emerald Oil, Inc., et al., seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Donlin,
Recano & Company, Inc. as administrative advisor, nunc pro tunc to
the March 22, 2016 petition date.

The Debtors require Donlin Recano to:

   (a) assist with, among other things, solicitation, balloting,
       tabulation, and calculation of votes, as well as preparing
       any appropriate reports, as required in furtherance of
       confirmation of plans of reorganization;
       
   (b) generate an official ballot certification and testifying,
       if necessary, in support of the ballot tabulation results;

   (c) provide assistance with preparation of the Debtors'
       Schedules of Assets and Liabilities and Statements of
       Financial Affairs;

   (d) manage any distributions pursuant to a confirmed plan of
       reorganization; and

   (e) provide such other claims processing, noticing,
       solicitation, balloting, and administrative services
       described in the Services Agreement, but not included in
       the Section 156(c) Application, as may be requested from
       time to time by the Debtors.

Donlin Recano will be paid at these hourly rates:

       Senior Bankruptcy Consultant     $165
       Case Manager                     $140
       Technology/Programming
       Consultant                       $110
       Consultant/Analyst               $90
       Clerical                         $45

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

Prior to the Petition Date, in connection with the Section 156(c)
Application, the Debtors provided Donlin Recano a retainer in the
amount of $40,000.

Roland Tomforde, chief operating officer of Donlin Recano, assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

The Bankruptcy Court will hold a hearing on the application on May
17, 2016, at 3:00 p.m.  Objections were due April 29, 2016.

Donlin Recano can be reached at:

       Roland Tomforde
       DONLIN, RECANO & COMPANY, INC.
       6201 15th Avenue
       Brooklyn, NY 11219
       Tel: (212) 481-1411

                       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.

Andrew Vara, acting U.S. trustee for Region 3, appointed seven
creditors of Emerald Oil, Inc., to serve on the official committee
of unsecured creditors.


EMERALD OIL: Hires Kirkland & Eliis as Attorneys
------------------------------------------------
Emerald Oil, Inc., et al., seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Kirkland &
Ellis LLP and Kirkland & Ellis International LLP  as attorneys,
nunc pro tunc to the March 22, 2016 petition date.

The Debtors require Kirkland & Ellis to:

   (a) advise the Debtors with respect to their powers and duties
       as debtors in possession in the continued management and
       operation of their businesses and properties;

   (b) advise and consult on the conduct of these chapter 11
       cases, including all of the legal and administrative
       requirements of operating in chapter 11;

   (c) attend meetings and negotiate with representatives of
       creditors and other parties in interest;

   (d) take all necessary actions to protect and preserve the
       Debtors' estates, including prosecuting actions on the
       Debtors' behalf, defending any action commenced against the

       Debtors, and representing the Debtors in negotiations
       concerning litigation in which the Debtors are involved,
       including objections to claims filed against the Debtors'
       estates;

   (e) prepare pleadings in connection with these chapter 11
       cases, including motions, applications, answers, orders,
       reports, and papers necessary or otherwise beneficial to
       the administration of the Debtors' estates;

   (f) represent the Debtors in connection with obtaining
       authority to continue using cash collateral and
       post-petition financing;

   (g) advise the Debtors in connection with any potential sale of

       assets;

   (h) appear before the Court and any appellate courts to
       represent the interests of the Debtors' estates;  

   (i) advise the Debtors regarding tax matters;  

   (j) take any necessary action on behalf of the Debtors to
       negotiate, prepare, and obtain approval of a disclosure
       statement and confirmation of a chapter 11 plan and all
       documents related thereto; and

   (k) perform all other necessary legal services for the Debtors
       in connection with the prosecution of these chapter 11
       cases, including:  (i) analyzing the Debtors' leases and
       contracts and the assumption and assignment or rejection
       thereof; (ii) analyzing the validity of liens against the
       Debtors; and (iii) advising the Debtors on corporate and
       litigation matters.

Kirkland & Ellis will be paid at these hourly rates:

       Partners                  $875-$1,445
       Of Counsel                $480-$1,445
       Associates                $510-$945
       Paraprofessionals         $180-$400

Kirkland & Ellis will also be reimbursed for reasonable
out-of-pocket expenses incurred.

On January 28, 2016 the Debtors paid $100,000 to Kirkland, which,
as stated in the Engagement Letter, constituted an "advance payment
retainer" as defined in Rule 1.15(c) of the Illinois Rules of
Professional Conduct and Dowling v. Chicago Options Assoc., Inc.,
875 N.E.2d 1012, 1018 (Ill. 2007).  Subsequently, the Debtors paid
to Kirkland additional advance payment retainers totaling
$888,541.26 in the aggregate.

Ryan Blaine Bennett, a partner of Kirkland & Ellis, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

The Bankruptcy Court will hold a hearing on the application on May
17, 2016, at 3:00 p.m.  Objections were due April 29, 2016.

Kirkland & Ellis can be reached at:

       Ryan Blaine Bennett, Esq.
       Kirkland & Ellis LLP
       300 North LaSalle
       Chicago, IL 60654
       Tel: (312) 862-2074
       Fax: (312) 862-2200
       E-mail: ryan.bennett@kirkland.com

                        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.

Andrew Vara, acting U.S. trustee for Region 3, appointed seven
creditors of Emerald Oil, Inc., to serve on the official committee
of unsecured creditors.


EMERALD OIL: Hires Opportune as Crisis Managers and CRO
-------------------------------------------------------
Emerald Oil, Inc., et al., seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Opportune
LLP as crisis managers and Wade Stubblefield as chief restructuring
officer and additional personnel, nunc pro tunc to the March 22,
2016 petition date.

The Debtors require Mr. Stubblefield's and Opportune's anticipated
services in these chapter 11 cases include:

   (a) Opportune will provide the following financial advisory
       services in consultation with the Debtors' senior
       management and/or Board of Directors, which include, but
       are not limited to:

       -- Mr. Stubblefield shall serve in the role of Chief
          Restructuring Officer for the Debtors. The CRO will
          serve as the principal contact with the Debtors'
          creditors with respect to the Debtors' day-to-day
          financial and operational matters, reporting to the
          Debtors' Board; and

       -- Opportune will provide additional employees of Opportune

          and/or its affiliates and wholly-owned subsidiaries as
          required, to assist the CRO in the execution of the
          duties set forth more fully in the Engagement Letter.

   (b) Services. In addition to the services described above, the
       Engagement Personnel will provide the following services as

       directed by the Board:

       -- prepare information to assist management, the Board and
          the Debtors' advisors in evaluating restructuring
          options and directing the Debtors through a bankruptcy;

       -- develop forecasts and information for obtaining
          bankruptcy court approval of use of cash collateral or
          DIP financing and related compliance and reporting;

       -- assistance in preparing, filing, and obtaining approval
          of first day motions, schedules of assets and
          liabilities, statements of financial affairs, monthly
          operating reports, and other information required in
          connection the bankruptcy, filing of other motions and
          assisting legal counsel and the Debtors in responding to

          motions or pleadings during the pendency of the
          bankruptcy and providing expert testimony acceptable to
          Opportune;

       -- perform financial and operational reviews of the
          Debtors, including, but not limited to, a review and
          assessment of financial and operational information that

          has been, and that will be, provided by the Debtors to
          their creditors, including, without limitation, their
          short- and long-term projected cash flows and operating
          performance;

       -- assist in the identification and implementation of cost
          reduction and operations improvement opportunities; and

       -- perform such other services as requested by the Board,
          and agreed to by Opportune that is not duplicative of
          work others are performing for the Debtors.

   (c) The CRO would be authorized and empowered in his sole
       discretion to bring to the Bankruptcy Court any matters
       deemed necessary and appropriate to be heard by the Court.

Opportune will be paid at these hourly rates:

       Chief Restructuring Officer    $795
       Additional Personnel:
       Partner                        $695
       Managing Director              $595
       Director                       $505
       Manager                        $400
       Senior Consultant              $350
       Consultant                     $280

In addition, Opportune shall also be paid deferred compensation
which shall be earned upon confirmation of a Restructuring
Transaction and paid upon the effective date of a Restructuring
Transaction, as follows:

    (a) An amount of $750,000 if the date for consummation of a
        Restructuring Transaction is on or before June 30, 2016;
        or

   (b) An amount of $500,000 if the date for consummation of a
       Restructuring Transaction is between July 1, 2016 and
       July 31, 2016; or

   (c) An amount of $400,000 if the date for consummation of a
       Restructuring Transaction is between August 1, 2016 and
       August 31, 2016.

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

Opportune received a retainer of $100,000 from the Debtors in
connection with their prepetition engagement letter, dated
September 25, 2015. As of the Petition Date, Opportune had
approximately $83,000 of the Retainer remaining. Opportune now
seeks to increase the Retainer to a total of $250,000, as
contemplated in the Engagement Letter. Accordingly, the Debtors
request authority to increase and replenish the Retainer in the
amount of $167,000.

Wade Stubblefield, managing director of Opportune, assured the
Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

The Bankruptcy Court will hold a hearing on the application on May
17, 2016, at 3:00 p.m.  Objections were due April 29, 2016.

Opportune can be reached at:

       Wade Stubblefield
       Opportune LLP
       340 Madison Avenue, 19th Floor
       New York City, NY 10173
       Tel: (212) 220-9466
       Fax: (212) 220-9504
       E-mail: wstubblefield@opportune.com

                        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.

Andrew Vara, acting U.S. trustee for Region 3, appointed seven
creditors of Emerald Oil, Inc., to serve on the official committee
of unsecured creditors.


EMERALD OIL: Taps Pachulski Stang as Co- and Conflicts Counsel
--------------------------------------------------------------
Emerald Oil, Inc., et al., seek authorization from the U.S.
Bankruptcy Court for the District of Delaware to employ Pachulski
Stang Ziehl & Jones LLP as co-counsel and conflicts counsel, nunc
pro tunc to the March 22, 2016 petition date.

The Debtors require Pachulski Stang to:

   (a) provide legal advice regarding local rules, practices, and
       procedures;

   (b) review and comment on drafts of documents to ensure
       compliance with local rules, practices, and procedures;

   (c) file documents as requested by Kirkland & Ellis and
       coordinating with the Debtors' claims agent for service of
       documents;

   (d) prepare agenda letters, certificates of no objection,
       certifications of counsel, and notices of fee applications
       and hearings;

   (e) prepare hearing binders of documents and pleadings,
       printing of documents and pleadings for hearings;

   (f) appear in Court and at any meeting of creditors on behalf
       of the Debtors in its capacity as co-counsel with Kirkland
       & Ellis;

   (g) monitor the docket for filings and coordinating with
       Kirkland & Ellis on pending matters that need responses;

   (h) prepare and maintain critical dates memorandum to monitor
       pending applications, motions, hearing dates and other
       matters and the deadlines associated with same; distribute
       critical dates memorandum with Kirkland & Ellis for review
       and any necessary coordination for pending matters;

   (i) handle inquiries and calls from creditors and counsel to
       interested parties regarding pending matters and the
       general status of these Cases, and, to the extent required,

       coordinating with Kirkland & Ellis on any necessary
       responses;

   (j) provide additional administrative support to Kirkland &
       Ellis, as requested; and

   (k) serve as conflicts counsel for the Debtors with respect to
       any matters for which Kirkland &Ellis may have a conflict.

Pachulski Stang will be paid at these hourly rates:

       Laura Davis Jones           $1,050
       Colin R. Robinson           $695
       Joseph Mulvihill            $425
       Patricia E. Cuniff          $305

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

Pachulski Stang has received payments from the Debtors during the
year prior to the Petition Date in the amount of $58,585, including
the Debtors' aggregate filing fees for these cases, in connection
with its prepetition representation of the Debtors.

Laura Davis Jones, a partner of Pachulski Stang, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Pachulski Stang can be reached at:

       Laura Davis Jones, Esq.
       PACHULSKI STANG ZIEHL & JONES LLP
       919 North Market Street, 17th Floor
       P.O. Box 8705
       Wilmington, DE 19899-8705
       Tel: (302) 652-4100
       Fax: (302) 652-4400
       E-mail: ljones@pszjlaw.com

                        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.

Andrew Vara, acting U.S. trustee for Region 3, appointed seven
creditors of Emerald Oil, Inc., to serve on the official committee
of unsecured creditors.


EMPIRE RESORTS: Incurs $5.21 Million Net Loss in First Quarter
--------------------------------------------------------------
Empire Resorts, Inc., filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
applicable to common shareholders of $5.21 million on $16.20
million of net revenues for the three months ended March 31, 2016,
compared to a net loss applicable to common shareholders of $4.09
million on $14.52 million of net revenues for the same period in
2015.

As of March 31, 2016, Empire Resorts had $334.73 million in total
assets, $37.69 million in total liabilities and $297.04 million in
total stockholders' equity.

The Company has had continuing net losses and negative cash flow
from operating activities, including a loss from operations of $4.8
million for the three months ended March 31, 2016.  The net loss
for the three months ended March 31, 2016, was primarily related to
the pre-opening development expenses in the amount of $3.1 million
and consisted of $2.6 million in land lease expense, $201,000 in
legal, consultants and other professional services, $106,000 in
insurance expense, $97,000 in property tax expenses and $85,000 in
other expenses.  $41.2 million of the costs incurred for the
Development Projects were eligible to be capitalized for the three
months ended March 31, 2016.

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

                       http://is.gd/zFdlAq

                      About Empire Resorts

Based in Monticello, New York, Empire Resorts, Inc. (NASDAQ: NYNY)
-- http://www.empireresorts.com/-- owns and operates Monticello
Casino & Raceway, a video gaming machine and harness racing track
and casino located in Monticello, New York, 90 miles northwest of
New York City.

Empire Resorts reported a net loss applicable to common
shareholders of $36.8 million on $68.2 million of net revenues for
the year ended Dec. 31, 2015, compared to a net loss applicable to
common shareholders of $24.1 million on $65.2 million of net
revenues for the year ended Dec. 31, 2014.


ETIENNE ESTATES: Court Fixes JJAM's Claim at $2.7-Mil.
------------------------------------------------------
Before the Court are three related matters: the Application of
Debtor Etienne Estates at Washington, LLC to Confirm its Third
Amended Chapter 11 Plan of Reorganization; an Objection to Plan
Confirmation and Exclusivity Extension made by secured creditor
JJAM Capital LLC ("JJAM")and the Debtor's Objection to JJAM's
claim.

Judge Nancy Hershey Lord of the United States Bankruptcy Court for
the Eastern District of New York fixed JJAM's claim in the amount
of $2,726,396.97; held that, of the total claim, $779,764.83 may be
tendered to cure and reinstate the terms of the Consolidated Note;
and granted the Debtor leave to amend its plan accordingly.

A full-text copy of the Decision dated March 30, 2016 is available
at http://is.gd/6aKmizfrom Leagle.com.

The case is In Re Etienne Estates at Washington LLC, Chapter 11,
Debtor, Case No. 1-14-40786-nhl (Bankr. E.D.N.Y.).

Etienne Estates at Washington LLC, Debtor, is represented by J. Ted
Donovan, Esq. -- Goldberg Weprin Finkel Goldstein LLP, Kevin J.
Nash, Esq. -- Goldberg Weprin Finkel Goldstein LLP.


EXELIXIS INC: Incurs $61.3 Million Net Loss in First Quarter
------------------------------------------------------------
Exelixis, Inc., filed with the Securities and Exchange Commission
its quarterly report on Form 10-Q disclosing a net loss of $61.3
million on $15.4 million of total revenues for the three months
ended March 31, 2016, compared to a net loss of $35.2 million on
$9.38 million of total revenues for the same period in 2015.

As of March 31, 2016, the Company had $492.53 million in total
assets, $648.48 million in total liabilities and a total
stockholders' deficit of $155.95 million.

Cash and cash equivalents, short- and long-term investments and
long-term restricted cash and investments totaled $407.6 million at
March 31, 2016, which increased from $253.3 million at Dec. 31,
2015 as a result of the $200.0 million upfront payment we received
from Ipsen in connection with the Company's Feb. 29, 2016,
licensing agreement.

"The first quarter of 2016, and the time period following it, was
marked by important advances not only for our company, but for the
patients we serve," said Michael M. Morrissey, Ph.D., president and
chief executive officer of Exelixis.  "Most notably, just a little
over a week ago we announced that the FDA approved CABOMETYX for
advanced RCC, a major milestone for the company.  We are especially
pleased that the label includes the robust overall survival data
from the METEOR trial.  CABOMETYX is now the first and only therapy
to have demonstrated improvements in the three key efficacy
parameters in a phase 3 trial of advanced renal cell carcinoma, one
of the most common forms of cancer for men and women in the United
States.  We are moving quickly to introduce this new and important
medicine to the medical community, with our experienced U.S.
commercial team already in the field and meeting with healthcare
providers.  With our partner Ipsen, we are also well positioned to
advance the process of seeking approval and potentially
commercializing CABOMETYX in markets beyond the U.S., Canada and
Japan."

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

                     http://is.gd/4hRSZ7

                      About Exelixis Inc.

Headquartered in South San Francisco, California, Exelixis, Inc.,
develops innovative therapies for cancer and other serious
diseases.  Through its drug discovery and development activities,
Exelixis is building a portfolio of novel compounds that it
believes has the potential to be high-quality, differentiated
pharmaceutical products.

Exelixis reported a net loss of $170 million on $37.2 million
of total revenues for the year ended Dec. 31, 2015, compared to a
net loss of $269 million on $25.1 million of total revenues for the
year ended Dec. 31, 2014.


FAIRMOUNT SANTROL: S&P Lowers Corporate Credit Rating to 'SD'
-------------------------------------------------------------
S&P Global Ratings said it lowered its corporate credit rating on
Chesterland, Ohio-based Fairmount Santrol Inc. to 'SD' from 'CCC+'.
S&P also lowered the issue-level rating on the company's senior
secured debt (the extended term loan tranche) to 'D' from 'CCC+'.
The recovery rating on the debt remains '4', reflecting S&P's
expectation of average (30%-50%; higher end of the range) recovery
in the event of default.

The rating action follows an amendment to Fairmount's credit
agreement extending the maturity date of approximately 89% ($139
million) of the principal amount of outstanding tranche B-1 term
loans to July 2018 from March 2017.  In conjunction with the
extension, Fairmount redeemed 50%, or $70 million, of the extended
term loan maturities.

"We consider this amendment to be tantamount to a default because
we view it as a distressed restructuring without compensation to
investors," said S&P Global Ratings credit analyst Ryan Gilmore.
"The extension, in our view, implies the investors will receive
less value than the promise of the original term loan."

In addition, S&P's assessment reflects its belief that absent the
extension, Fairmount would be vulnerable to a conventional default
over the near term, which S&P believes to be symptomatic of a
distressed transaction.  As a result S&P is lowering the corporate
credit rating and issue-level rating accordingly.

S&P is reassessing its ratings on Fairmount and plan to release
updated ratings within a week.  S&P's analysis will incorporate the
company's new capital structure as well as developments subsequent
to rating actions on April 25, 2016.


GARLOCK SEALING: Files Supplement on RBH's Employment as Counsel
----------------------------------------------------------------
Garlock Sealing Technologies LLC, Garrison Litigation Management
Group, Ltd., and The Anchor Packing Company filed a supplemental
application to the U.S. Bankruptcy Court for the Western District
of North Carolina to expand the scope of employment of Robinson,
Bradshaw & Hinton, P.A. as special corporate and litigation
counsel.

In the First Application already approved by this Court, the
Debtors sought approval to employ RBH as Special Corporate and
Litigation Counsel. The scope of employment approved included the
special litigation matters described in  the First Application as
well as corporate and transactional matters involving
non-affiliated parties—specifically, "advis[ing] the Debtors in
matters of taxation" and "represent[ing] and advis[ing] the Debtors
with respect to corporate financing to the Debtors, including the
establishment of credit facilities, amendments, and modifications
thereto."

The Debtors, in the continued operation of their businesses, have
additional corporate transactions and commercial litigation matters
for which they require legal services and which RBH is suited to
provide. To supplement the scope of RBH's employment, Debtors now
make this Supplemental Application.

The Supplemental Application proposes to supplement the First
Application so that RBH can provide services to Debtors in
additional corporate transactions and commercial litigation between
Debtors and parties unaffiliated with Debtors.

In addition to the scope of the services authorized by the
Retention Order, the Debtors seek to employ RBH to represent and
advise Debtors in discrete corporate transactions with parties
unaffiliated with Debtors and discrete commercial litigation with
parties unaffiliated with Debtors.

The Debtors anticipate that the Non-Affiliate Corporate
Transactions will include, inter alia and without limitation, the
following types of transactions:

   (a) merger and acquisition transactions;

   (b) non-disclosure agreements;

   (c) joint venture transactions;

   (d) intellectual property protection and licensing;

   (e) commercial contracts involving the purchase or sale of
       goods, materials, technology, software, or other items; and

   (f) matters involving real property.

The Debtors anticipate that the Non-Affiliate Commercial Litigation
Matters will include, inter alia and without limitation, the
following types of matters:

   (a) disputes regarding commercial contracts with customers,
       suppliers, and other parties;

   (b) intellectual property disputes; and

   (c) disputes involving real property.

Subject to the Court's approval and in accordance with sections
327(e), 330, and 331 of the Bankruptcy Code, the Federal Rules of
Bankruptcy Procedure, the Local Rules, and the Orders of this
Court, Debtors request that RBH, for its services with regard to
the Supplemental Matters, be compensated on the same terms as
approved by the Court in its Retention Order.

The Debtors assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

RBH can be reached at:

       Garland S. Cassada, Esq.
       ROBINSON, BRADSHAW & HINTON, P.A.
       101 North Tryon Street, Suite 1900
       Charlotte, NC 28246
       Tel: (704) 377-8317
       Fax: (704) 373-3917
       E-mail: gcassada@robinsonbradshaw.com

                       About Garlock Sealing

Headquartered in Palmyra, New York, Garlock Sealing Technologies
LLC is a unit of EnPro Industries, Inc. (NYSE: NPO).  For more than
a century, Garlock has been helping customers efficiently seal the
toughest process fluids in the most demanding applications.

On June 5, 2010, Garlock filed a voluntary Chapter 11 petition
(Bankr. W.D.N.C. Case No. 10-31607) in Charlotte, North Carolina,
to establish a trust to resolve all current and future asbestos
claims against Garlock under Section 524(g) of the U.S. Bankruptcy
Code.  The Debtor estimated $500 million to $1 billion in assets
and up to $500 million in debts as of the Petition Date.

Affiliates The Anchor Packing Company and Garrison Litigation
Management Group, Ltd., also filed for bankruptcy.

Albert F. Durham, Esq., at Rayburn Cooper & Durham, P.A.,
represents the Debtor in their Chapter 11 effort.  Garland S.
Cassada, Esq., at Robinson Bradshaw & Hinson, serves as counsel for
asbestos matters.

The Official Committee of Asbestos Personal Injury Claimants in the
Chapter 11 cases is represented by Travis W. Moon, Esq., at
Hamilton Moon Stephens Steele & Martin, PLLC, in Charlotte, NC,
Elihu Inselbuch, Esq., at Caplin & Drysdale, Chartered, in New
York, and Trevor W. Swett III, Esq., Leslie M. Kelleher, Esq., and
Jeanna Rickards Koski, Esq., in Washington, D.C. 20005.

Joseph W. Grier, III, the Court-appointed legal representative for
future asbestos claimants, has retained A. Cotten Wright, Esq., at
Grier Furr & Crisp, PA, and Richard H. Wyron, Esq., and Jonathan P.
Guy, Esq., at Orrick, Herrington & Sutcliffe LLP, as his
co-counsel.

Judge George Hodges of the U.S. Bankruptcy Court for the Western
District of North Carolina on Jan. 10, 2014, entered an order
estimating the liability for present and future mesothelioma claims
against Garlock Sealing at $125 million, consistent with the
positions GST put forth at trial.

In January 2015, the Debtors filed their Second Amended Plan of
Reorganization, which is backed by the Future Asbestos Claimants'
Representative (FCR).  The confirmation hearing is slated to begin
June 20, 2016.

Under the schedule for confirmation proceedings ordered by the
Court, objections to confirmation of the Plan that do not depend on
the results of voting were due Oct. 6, 2015, and confirmation
objections that depend on such results are due on Dec. 18, 2015.


GAS-MART: Court Approves UMB Bank Stipulation
---------------------------------------------
Gas-Mart USA, Inc., and its affiliated Debtors, and the Official
Committee of Unsecured Creditors obtained from Judge Arthur B.
Federman of the U.S. Bankruptcy Court for the Western District of
Missouri, Kansas City Division, approval of their Stipulation with
UMB Bank, N.A., with respect to the Court's Final DIP Order.

The Debtors and the Official Committee contended that they have
held negotiations regarding the resolution of certain issues in
connection with the multiple sales of the Debtors' assets
("Sales”) and the series of closings ("Closings”) contemplated
by the GPM/PPRE bids, as well as the subsequent wind-down of the
Bankruptcy Estates through a possible plan of liquidation.

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

     (a) If DIP Lender actually receives net cash sale proceeds
from the Sales in the aggregate amount of at least $3,800,000 ("DIP
Lender Net Sale Proceeds”), which is indefeasibly paid to DIP
Lender within a reasonable period of time after the Closings, and
such payments are not subject to any further challenge,
reimbursement, surcharge, carve-out, claw-back, or similar action
by the Debtors, the Official Committee, a trustee, plan
administrator, the Debtors’ bankruptcy estates, each of the
forgoing entities’ respective professionals or any other party
("Challenge Party”), then DIP Lender agrees that it will waive
the DIP Liens and Super Priority Claim Status except as provided
for in the Stipulation.

     (b) If DIP Lender does not receive the DIP Lender Net Sale
Proceeds at the conclusion of the Closings, but receives net cash
sale proceeds from the Sales in the aggregate amount of at least
$3,500,000, which is indefeasibly paid to DIP Lender within a
reasonable period time after the Closings, and such payments are
not subject to any further challenge, reimbursement, surcharge,
carve-out, claw-back, or similar action by a Challenge Party, then
DIP Lender agrees that its DIP Liens and Superpriority Claims
Status as to 50% of the Net Litigation Recoveries from any
Avoidance Actions and other causes of actions owned by the
Bankruptcy Estates ("Causes of Action”) shall be subject and
subordinate to a carve-out for the Bankruptcy Estates to be used in
accordance with the provisions of the Stipulation ("Bankruptcy
Estates Carveout”) until DIP Lender is indefeasibly paid a total
$4,300,000, at which point DIP Lender will waive its DIP Liens and
Superpriority Claim Status.

     (c) If DIP Lender does not indefeasibly receive net cash sale
proceeds from the Sales within a reasonable period time after the
Closings in the aggregate amount of at least $3,500,000, then DIP
Lender agrees to the Bankruptcy Estates Carveout until the DIP
Lender Indebtedness is indefeasibly paid in full.

     (d) DIP Lender further agrees to allow the Bankruptcy Estates
to hold back $100,000 on a one time basis from any sale proceeds
payable to DIP Lender ("Holdback Funds”) for the sole purpose of
funding the Official Committee’s investigation, initiation and
pursuit of the Causes of Action or such other purpose as mutually
agreed to by the DIP Lender and the Official Committee; provided,
however, that (i) DIP Lender shall maintain a senior and first
priority lien on the Causes of Action until such Holdback Funds are
indefeasibly paid back in full to DIP Lender and (ii) any
recoveries from the Causes of Action are first paid to DIP Lender
in order to reimburse it for the Holdback Funds.

In light of the concessions being provided in the Stipulation by
both the DIP Lender and the Committee, the Debtors consented to the
Committee’s investigation and prosecution of: (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, 549
and 550 of the Bankruptcy Code.  The Debtors and the Committee
reserved their respective rights as to the investigation and
prosecution of any other Causes of Action.

The Official Committee of Unsecured Creditors is represented by:

          Shelly A. DeRousse, Esq.
          Devon J. Eggert, Esq.
          Elizabeth L. Janczak, Esq.
          FREEBORN & PETERS LLP
          311 South Wacker Drive, Suite 3000
          Chicago, IL 60606-6677
          Telephone: (312)360-6000
          Facsimile: (312)360-6520
          Email: sderousse@freeborn.com
                 deggert@freeborn.com
                 ejanczak@freeborn.com

The Iowa Department of Revenue is represented by:

          John Waters
          IOWA DEPARTMENT OF REVENUE
          P.O. Box 10457
          Des Moines, Iowa 50306
          Telephone: (515)281-6427
          Email: john.waters@iowa.gov

Illinois Department of Revenue is represented by:

          James D. Newbold, Esq.
          ASSISTANT ATTORNEY GENERAL
          100 W. Randolph Street
           Chicago, IL 60601
           Telephone: (312)814-4557
           Email: james.newbold@illinois.gov

UMB Bank, N.A. is represented by:

          Eric L. Johnson, Esq.
          Scott Goldstein, Esq.
          SPENCER FANE LLP
          1000 Walnut St.
          Kansas City, MO 64106
          Telephone: (816)478-8100
          Facsimile: (816)471-6467
          Email: ejohnson@spencerfane.com
                 sgoldstein@spencerfane.com

Gas-Mart USA Inc. and its affiliated Debtors are represented by:

          Paul M. Hoffman, Esq.
          Nicholas J. Zluticky, Esq.
          STINSON LEONARD STREET LLP
          1201 Walnut, Suite 2900
          Kansas City, MO 64106
          Telephone: (816)842-8600
          Facsimile: (816)691-3495
          Email: Paul.hoffmann@stinsonleonard.com
                 Nicholas.zluticky@stinsonleonard.com
     
About Gas-Mart USA, Inc.

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.



GREAT PLAINS REGIONAL: Fitch Puts BB Bonds Rating on Neg. Watch
---------------------------------------------------------------
Fitch Ratings has placed the following Oklahoma Development Finance
Authority bonds issued on behalf of Great Plains Regional Medical
Center (GPRMC) which are currently rated 'BB', on Rating Watch
Negative:

-- $33.7 million hospital revenue bonds, series 2007.

SECURITY

The bonds are secured by a pledge of the revenues of the obligated
group and a debt service reserve fund.

KEY RATING DRIVERS

POTENTIAL RATE COVENANT VIOLATION: Through Dec. 31, 2015, GPRMC
posted a $3.9 million net loss on total revenues of $20.6 million
(negative 18.7% net margin). As a result, GPRMC debt service
coverage by EBITDA was negative 0.6x coverage ratio through the six
month interim period. The Rating Watch Negative reflects the
potential for GPRMC to violate its debt service coverage
requirement of 1.1x including triggering an Event of Default.

EXCEPTIONALLY WEAK OPERATING PERFORMANCE: Through the six-month
interim period ending Dec. 31, 2015, GPRMC $3.9 million loss from
operations reflects a sharp drop in inpatient and outpatient
volumes compared to the prior year period. Additionally, average
length of stay increased from 3.6 days in year-to-date (YTD) to 3.9
days in the current period.

SUFFICIENT BALANCE SHEET STRENGTH: GPMRC's balance sheet strength
is currently sufficient at its 'BB' rating level. As of Dec. 31,
2015, GPRMC had 162.3 days cash on hand (DCOH), 6.8x cushion ratio,
and 59.1% cash to debt which are all favorable to Fitch's below
investment grade (BIG) medians.

OIL DEPENDENT PRIMARY SERVICE AREA: GPRMC's primary service area
(PSA) is highly dependent on the cyclical oil and gas industry.
Recent pressures on the oil and gas industry have reduced drilling
activity in the area and have resulted in a decline in the area
population and increases in unemployment levels.

RATING SENSITIVITIES

RATE COVENANT VIOLATION: Failure to reverse its weak operating
performance in the second half of 2016 would most likely result in
Great Plains Regional Medical center (GPRMC) having coverage below
1.0x which would be an event of default under the master trust
indenture (MTI) and would result in downward rating pressure.

LOOMING STATE MEDICAID CUTS: In light of recent budgetary
pressures, the Oklahoma Health Care Authority announced a 25% cut
in Medicaid provider payments which are expected to go into effect
on June 1, 2016. These cuts could have negative ramifications on
GPRMC's reimbursement rates and could further burden operating
performance which could put negative pressure on the rating.

MANAGEMENT ACTIONS COULD LEAD TO STABILIZATION: Despite the weak
interim operating results, management has taken multiple actions in
the second half of the fiscal year to help mitigate weak
performance. Such actions include: instituting a new hospitalist
group, reopening inpatient swing beds, and redirecting patients
from Sayre Memorial Hospital which ceased operations on Feb. 1,
2016. These three actions, combined with any other mitigating
management actions, could help reverse poor interim operating
performance and lead to stabilization of the rating.

CREDIT PROFILE

GPMRC is a 62-licensed bed community hospital located in Elk City,
Oklahoma, approximately 120 miles west of Oklahoma City. Total
revenues were $45.8 million in fiscal year (FY) 2015.

POTENTIAL RATE COVENANT VIOLATION AND HIGH LEVERAGE

GPRMC remains highly levered, with a maximum annual debt service
(MADS) of $2.9 million equating to a very high 7.1% of annualized
fiscal 2016 revenues as compared to Fitch's BIG median of 4.4%.
Coverage levels have been thin in recent years with MADS coverage
by EBITDA of just 1.5x in FY 2015 and 1.4x in FY 2014. Due to weak
operating performance, this coverage was further reduced in the
interim period to negative 0.6x. A failure to finish the fiscal
year with coverage of at least 1.0x would be an event of default
under the MTI and would result in downward rating pressure.

DECREASED VOLUMES WEAKENED OPERATION PERFORMANCE

Inpatient admissions of 860 through Dec. 31, 2015 represent a 10.7%
decrease from prior year period. Similarly, emergency room visits
and outpatient surgeries were down 2% and 6.1% period over period.
Furthermore, ALOS increased to 3.9 days at Dec. 31, 2015 from 3.6
days at Dec. 31, 2014. These declining volume levels have led to
poor operating results at the end of the interim period.

GPRMC's small revenue base makes it more vulnerable to medical
staff and volume volatility, as evidence by current and historical
performance. Management's ability to maintain a stable physician
and nursing staff as well as maintain robust volume levels will
remain key to the rating. Despite depressed volume levels and weak
interim results, GPRMC's management team has made some changes in
the second half of fiscal 2016 which should help improve
operations. Management has replaced the entire hospitalist team,
reopened inpatient swing beds, and has redirected some volumes from
the recently closed Sayre Memorial Hospital. These actions should
help improve operating performance, lower ALOS, and increase volume
levels.

NEGATIVE PSA/STATE PRESSURES

GPRMC's PSA remains exposed to the cyclical oil and gas industry
which has negatively impacted area demographics. Recent declines in
prices of these commodities have resulted in reduced drilling
activity which has led to a decreased population and increased
unemployment rates. These weakened demographics could impact future
acute volumes of GPRMC. Additionally, due to budgetary pressures,
the Oklahoma Health Care Authority announced a 25% cut in Medicaid
provider payments which are expected to go into effect on June 1,
2016. Should these cuts come to fruition, it could negatively
impact GPRMC's reimbursement rates and further weaken its operating
performance.

SUFFICIENT BALANCE SHEET

GPMRC's balance sheet remains adequate for its current rating level
and helps provide some financial cushion against its weak operating
performance. Through the six-month interim period, GPRMC had 162.3
DCOH, 6.8x cushion ratio, and 59.1% cash to debt which are all
favorable when compared to Fitch's BIG medians of 85.9 DCOH, 5.7x,
and 52.2%, respectively. GPMRC's cash position remains a key credit
consideration. However, an inability to stem operating losses could
deteriorate its liquidity which could put negative pressure on the
rating.

CONSERVATIVE DEBT PROFILE

GPRMC has minimal financing risk, with a 100% fixed rate debt
profile. No additional debt is planned and capital needs are
expected to remain modest. GPRMC has only fixed rate debt and no
derivative exposure.

DISCLOSURE

GPMRC covenants to disclosure annual and quarterly disclosure which
it posts regularly to the Municipal Securities Rulemaking Board's
EMMA System. Disclosure has been timely and thorough, with good
access to management.


GTT COMMUNICATIONS: S&P Affirms 'B+' Rating on Sec. Loan Due 2022
-----------------------------------------------------------------
S&P Global Ratings affirmed its 'B+' issue-level rating on U.S. IP
network operator GTT Communications Inc.'s senior secured term loan
due 2022 after the company upsized the debt to $430 million from
$400 million.  The '3' recovery rating is unchanged, indicating
S&P's expectation for meaningful recovery (50%-70%; lower half of
the range) of principal in the event of a payment default.  S&P
expects GTT to use the proceeds to paydown revolver borrowings,
thus increasing liquidity, which it may require for future
investments.

S&P doesn't expect the proposed transaction to significantly alter
GTT's credit metrics.  As a result, S&P's 'B+' corporate credit
rating and stable rating outlook on the company remain unchanged.
The corporate credit rating reflects S&P's expectation that debt to
EBITDA will improve to below 5x by mid-2016, from slightly above 5x
on a pro forma basis, due to cost synergies and healthy organic
growth driven by solid demand for connectivity.

RECOVERY ANALYSIS

Key Analytical Factors

   -- S&P's simulated default scenario contemplates a default in
      2020 due to increased competition from broadband and
      transport providers causing industry prices to fall
      significantly and, in turn, a sharp decline in profit
      margins to the point that the company's cash flow is unable
      to meet interest expense, required debt amortization, and
      maintenance capital spending levels.

   -- S&P valued the company on a going-concern basis using a 4x
      multiple of S&P's projected EBITDA at emergence of
      $63 million.  The 4x multiple is at the low end of the 4x-5x

      range S&P attributes to data transport companies because GTT

      holds most of its fiber under leases, which S&P views less
      favorably than owned fiber.

Simulated default and valuation assumptions

   -- Simulated year of default: 2020
   -- EBITDA at emergence: $63 million
   -- EBITDA multiple: 4x

Simplified waterfall

   -- Net enterprise value (after 3% administrative costs):
      $245 million
   -- Valuation split (obligors/nonobligors): 100%/0%
   -- Collateral value available to secured creditors:
      $242 million
   -- Secured first lien debt: $472 million
      -- Recovery expectations: 50%-70% (lower half of the range)

Note: All debt amounts include six months of prepetition interest.
The collateral value equals asset pledge from obligors after
priority claims plus equity pledge from nonobligors after
nonobligor debt.

RATINGS LIST

GTT Communications Inc.
Corporate Credit Rating        B+/Stable/--

Rating Affirmed; Recovery Rating Unchanged

GTT Communications Inc.
Senior secured
  $430 mil.* term loan due 2022            B+
  Recovery Rating                          3L

Ratings Unchanged

GTT Communications Inc.
$50 mil. revolver due 2022                B+
  Recovery Rating                          3L

*Upsized amount.


HARRINGTON & KING SOUTH: Case Summary & 20 Top Unsecured Creditors
------------------------------------------------------------------
Debtor: Harrington & King South, Inc.
        3939 Michigan Avenue Road NE
        Cleveland, TN 37323

Case No.: 16-15651

Chapter 11 Petition Date: May 7, 2016

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

Judge: Hon. Jacqueline P. Cox

Debtor's Counsel: William J Factor, Esq.
                  FACTORLAW
                  1363 Shermer Road, Suite 224
                  Northbrook, IL 60062
                  Tel: 847-239-7248
                  Fax: 847-574-8233
                  E-mail: wfactor@wfactorlaw.com

                     - and -

                  Zhijun Liu, Esq.
                  FACTORLAW
                  105 W. Madison St.
                  Chicago, IL 60602
                  Tel: (312) 470-1284
                  E-mail: jliu@wfactorlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Greg McCallister, chief restructuring
officer & chief operating officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-15651.pdf


HARRINGTON & KING: Case Summary & 20 Largest Unsecured Creditors
----------------------------------------------------------------
Debtor: The Harrington & King Perforating Co., Inc.
        5655 W Fillmore Street
        Chicago, IL 60644-5597

Case No.: 16-15650

Chapter 11 Petition Date: May 7, 2016

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

Judge: Hon. Deborah L. Thorne

Debtor's Counsel: William J Factor, Esq.
                  FACTORLAW
                  1363 Shermer Road, Suite 224
                  Northbrook, IL 60062
                  Tel: 847-239-7248
                  Fax: 847-574-8233
                  E-mail: wfactor@wfactorlaw.com

Estimated Assets: $1 million to $10 million

Estimated Liabilities: $1 million to $10 million

The petition was signed by Greg McCallister, chief restructuring
officer and chief operating officer.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/ilnb16-15650.pdf


HIGH RIDGE MANAGEMENT: Hires Qbix as Accountants
------------------------------------------------
High Ridge Management Corp. and its debtor-affiliates sought and
obtained permission from the U.S. Bankruptcy Court for the Southern
District of Florida to employ Rocky Davidson, CPA and the firm Qbix
Accounting Solutions, LLC as accountants to the Debtors, nunc pro
tunc to January 1, 2016.

The Debtors seek to employ Qbix to render these professional
services:

   (a) obtain and reconcile bank statements;

   (b) post entries to Quickbooks;

   (c) support for monthly reporting requirements; and

   (d) provide support to KM for the preparation of the Debtors'
       tax returns.

The current hourly rates for the professionals at Qbix range from
$75 to $225.

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

Rocky Davidson, founding partner of Qbix, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Qbix can be reached at:

       Rocky Davidson
       QBIX ACCOUNTING SOLUTIONS, LLC
       fka Davidon Collins
       500A Northside Crossing
       Macon, GA 31210
       Tel: (478) 787-0532

                About Hight Ridge Management Corp.

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

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

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

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

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

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

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


HUNTS POINT TROPICAL: Bid to Dismiss C and J Suit Dismissed
-----------------------------------------------------------
Judge Ruben Franco of the Supreme Court, Bronx County, denied
defendant Hunts Point Terminal Produce Cooperative Association,
Inc.'s motion to dismiss in its entirety the action styled The case
is C AND J BROTHERS, INC., Plaintiff, v. HUNTS POINT TERMINAL
PRODUCE COOPERATIVE ASSOCIATION, INC., Defendant, Docket No.
302074/12, 2016 NY Slip Op 30669(U)(N.Y. Sup.).

In this action for, inter alia, breach of fiduciary duty, defendant
moves for dismissal alleging that an order previously issued by the
United States Bankruptcy Court conclusively resolved the issues
raised here, thereby barring the action under the doctrines of
collateral estoppel and res judicata; (2) claiming that the issues
raised fall within the exclusive jurisdiction of the Bankruptcy
Court, such that this Court lacks subject matter jurisdiction; and,
(3) asserting that the business judgment rule causes the Complaint
to fail to state a cause of action.

In opposition, plaintiff  C and J Brothers, Inc. avers that the
Bankruptcy Court expressly declined to address the issues raised
here, advising the parties to seek redress in State court, and that
this court has the requisite subject matter jurisdiction to hear
this action, and neither collateral estoppel nor res judicata serve
to bar it. Plaintiff also contends that inasmuch as it pleads bad
faith, self-dealing, and collusion by defendant, it raises legally
cognizable exceptions to the business judgment rule, thus, the
Complaint states a cause of action.

A full-text copy of the Decision and Order dated March 23, 2016 is
available at http://is.gd/hdzNlPfrom Leagle.com.


INNER CITY PROPERTIES: Court Disallows Linda Hines' $1.2MM Claim
----------------------------------------------------------------
Bryan Perkins, Administrator of the Estate of Troy S. Clements, is
seeking disallowance of a $1,228,488.62 claim filed by Linda Hines.
Linda Hines opposes the Objection.

The basis for the Claim is "money loaned for purchase of rental
properties & expenses." According to Linda, the checks evidence
loans she extended to ICP.

To substantiate her claim at the evidentiary hearing, Linda
introduced three lending agreements in the aggregate, principal
amount of $1,028,488.62. The agreements, however, raise some of the
same questions raised by the checks appended to the Claim. Linda is
the lender under each agreement. However, the borrower under each
agreement is James, not ICP. One of the agreements is dated prior
to ICP's formation. None of the agreements reference ICP.

Linda also introduced an additional cashier's check that was not
appended to her Claim. It is a $40,000.00 cashier's check made
payable to ICP. The check identifies Linda as the remitter.

Judge Jeffery P. Hopkins of the United States Bankruptcy Court for
the Southern District of Ohio, Western Division sustained the
Objection in part. Linda possesses a right to payment from ICP in
the amount of $240,000.00. This represents the $200,000.00 that
Linda transferred from her personal accounts to Spring Valley Bank
and the $40,000.00 that Linda transferred from her personal account
to ICP. ICP was the first, after Linda, to control these funds. At
the very least, Linda established that ICP was unjustly enriched by
these transfers.

The balance of her proof of claim, in the amount of $1,088,488.62,
will be disallowed because Linda did not sustain her elevated
burden of proof as an insider of ICP. Her claim for relief to
recover these funds, if any, lies against James under state law,
not ICP.

A full-text copy of the Memorandum of Decision dated March 25, 2016
is available at http://is.gd/3Fgv6Hfrom Leagle.com.

The case is In Re INNER CITY PROPERTIES, LLC, Chapter 11, Debtor,
Case No. 13-11552 (Bankr. S.D. Ohio).

Inner City Properties, LLC, Debtor In Possession, is represented by
Michael B Baker, Michael L Baker, Anthony G Covatta, Esq. --
acovatta@fbtlaw.com -- Frost Brown Todd, LLC.

Harold Jarnicki, Trustee, is represented by Joseph M Hutson, Esq.
-- jhutson@ctks.com -- Cohen Todd Kite & Stanford LLC, Donald W
Mallory, Esq. --  dmallory@ctks.com -- Cohen Todd Kite & Stanford,
Richard D Nelson, Esq. --  ricknelson@ctks.com -- Cohen Todd Kite &
Stanford.

Asst US Trustee (Cin), U.S. Trustee, is represented by Monica V
Kindt.

Inner City Properties, LLC, in Florence, Indiana, filed for
Chapter 11 bankruptcy (Bankr. S.D. Ohio Case No. 13-11552) in
Cincinnati on April 4, 2013.  Judge Jeffery P. Hopkins oversees
the case.  Michael B. Baker, Esq., at The Baker Firm, PLLC, and
Michael L. Baker, Esq., at Ziegler & Schneider, P.S.C., serve as
the Debtor's counsel, according to the petition and court docket.
Inner City Properties scheduled $8,894,302 in assets and
$5,618,076 in liabilities.  A list of the company's 17 largest
unsecured creditors filed with the petition is available for free
at http://bankrupt.com/misc/ohsb13-11552.pdf The petition was  
signed by Tracy Hines, manager.


INSTITUTO MEDICO: Hires FPV as External Auditor
-----------------------------------------------
Instituto Medico Del Norte, Inc. d/b/a Centro Medico Wilma N.
Vazquez, seeks authority from the U.S. Bankruptcy Court for the
District of Puerto Rico to employ FPV & Galindez, PSC as external
auditor to the Debtor.

Instituto Medico requires FPV to:

   Audit Services

     - audit the Debtor's financial statements as of and for the
       year ended December 31, 2015 and issue our report thereon
       as soon as reasonably possible after completion of work.

   Tax Service

     - prepare the Debtor's estate tax returns for the year ended
       December 31, 2015.

   Management Consulting Services on Third-Party Reimbursement

     - assist the Debtor's finance director in the determination
       of statistical data required for the preparation of the
       Medicare Reimbursable Cost Report.

     - ascertain that proper consideration is made of prior year
       audit adjustments made by the auditors of the fiscal
       intermediary and will prepare such other cost elimination
       and/or additions as required.

     - prepare the cost reports and will ascertain that a proper
       maximization of costs is made where warranted.

     - ascertain completeness of the cost reports before filing.

FPV will be paid as follows:

     Audit              $33,600
     Taxes              $6,200
     Consulting         $11,400

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

Julio A. Galindez, CPA and principal of FPV & Galidez PSC, assured
the Court that the firm is a "disinterested person" as the term is
defined in Section 101(14) of the Bankruptcy Code and does not
represent any interest adverse to the Debtors and their estates.

FPV can be reached at:

     Julio A. Galindez, CPA
     FPV & GALIDEZ PSC
     Urb. Perez Morris, 19 Ponce St.
     San Juan, PR 00917
     Tel: (787) 725-4545
     Fax: (787) 724-5802

                       About Instituto Medico

Instituto Medico del Norte, Inc. -- aka Centro Medico Wilma N.
Vazquez, aka Hospital Wilma N. Vazquez Skill Nursing Facility of
Centro Medico Wilma N. Vazquez -- sought protection under Chapter
11 of the Bankruptcy Code on Oct. 30, 2013 (Bankr. D.P.R. Case No.
13-08961). The case is assigned to Judge Mildred Caban Flores.

The Debtor scheduled $20,843,692 in total assets and $20,107,642 in
total liabilities. The Debtor, however, said its real property has
a book value of $16,000,000 and personal property is worth
$6,105,979.

The Debtor is represented by Fausto David Godreau Zayas, Esq., and
Rafael A. Gonzalez Valiente, Esq., at Latimer Biaggi Rachid &
Godreau, in San Juan, Puerto Rico. Luis B. Gonzalez & Co. CPA's
P.S.C. serves as accountant.

The U.S. Trustee for the District of Puerto Rico has appointed Dr.
Carlos Mellado (b/t Lcda Dinorah Collazo Ortiz) as patient care
ombudsman.

                            *    *    *

MCS Advantage, Inc, MCS Life Insurance Company, Medical Card
System, Inc., have filed a motion to convert the bankruptcy case to
a liquidation under Chapter 7.


INTERPARK INVESTORS: Court Approves CBRE as Catalpa Estate Broker
-----------------------------------------------------------------
Interpark Investors, LLC sought and obtained permission from the
U.S. Bankruptcy Court for the Northern District of Illinois to
employ CBRE, Inc. as real estate broker for Catalpa Property.

Pursuant to 11 U.S.C. sections 327 and 328 and Fed. R. Bankr. P.
2014, the Debtor requests that this Court approve its retention of
CBRE as its real estate broker for the Catalpa Property according
to the terms set forth in that certain Exclusive Sales Listing
Agreement dated April 8, 2016.

As set forth in detail in the Agreement, CBRE will provide the
following services:

   (a) develop a marketing plan for the Catalpa Property and
       prepare offering materials;

   (b) advertise the Catalpa Property for sale via direct mail,
       print advertising and the Internet, as deemed appropriate
       by CBRE;

   (c) solicit and identify prospective purchasers of the Catalpa
       Property and assist the Debtor in evaluating and qualifying

       such prospective purchasers;

   (d) inform the Debtor of all inquiries related to the Catalpa
       Property;

   (e) assist the Debtor prepare and execute a closing checklist
       in connection with the Sale of the Catalpa Property; and

   (f) accept and inform the Debtor of all offers to buy the
       Catalpa Property and assist the Debtor in communicating
       counteroffers.

CBRE will receive a commission from the closing proceeds generated
from the sale of the Catalpa Property as follows:

   -- 2.25% of the gross sale price up to $8 million, and

   -- 5% of the amount of the gross sale price that is over $8
      million.

CBRE will be deemed to have earned the Commission if:

   -- the Debtor enters into a contract for the sale of the
      Catalpa Property during the term of the Agreement; and

   -- the contract for the sale of the Catalpa Property
      subsequently closes. CBRE will not receive the Commission
      until after further Court approval.

James F. Carris, a Senior Managing Director at CBRE, assured the
Court that CBRE is a "disinterested person" within the scope of
Section 101(14) of the Bankruptcy Code.

                    About Interpark Investors

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

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

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

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

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

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


JUMIO INC: Reaches Asset Purchase Agreement with Centana
--------------------------------------------------------
Jumio Inc., the fast growing online and mobile credentials
authentication company, on May 6 disclosed that it has reached an
agreement on the terms of an asset purchase agreement with an
acquisition vehicle of Centana Growth Partners, a growth equity
investment firm focused on financial services, financial
technology, and related enterprise technology.  Under the
agreement, Centana would acquire substantially all of Jumio's
assets.

The agreement was reached following a competitive auction conducted
under procedures approved by the United States Bankruptcy Court for
the District of Delaware.  The sale also received the consent of
the debtor-in-possession lender and "stalking horse bidder" Jumio
Acquisition, LLC, and the Official Committee of Equity Security
Holders.  Jumio and Centana received Court approval for the sale at
a hearing that took place on May 6, 2016.

"The auction process was, as we hoped, competitive and successful,"
said Stephen Stuut, Jumio's CEO.  "We are pleased to have achieved
an outcome that we believe is not only a terrific opportunity for
Jumio going forward, but supports the interests of all our various
stakeholders.  Centana is a great home for Jumio. With its
outstanding financial services expertise and relationships, and the
capital to fuel growth, Centana will provide Jumio with the
foundation it needs to achieve scale.  The transaction will be
completed quickly and will enable Jumio to move past our legacy
issues to become a stronger, more competitive company.
Importantly, it will be seamless for both our customers and the
dedicated team of employees who serve them."

Eric Byunn, Partner, Centana Growth Partners, commented,
"Authentication is of critical importance to a broad range of
online and mobile applications across industries such as financial
services, e-commerce, travel, and the entire sharing economy. Jumio
provides a market-leading solution, increasing conversion and
reducing fraud rates for its customers, as evidenced by Jumio's
strong growth rate, proven business model, and impressive customer
base."

Ben Cukier, Partner, Centana Growth Partners, added, "We look
forward to working with Jumio's employees and experienced
management team.  We believe Centana's experience and network in
the financial services ecosystem will help the company accelerate
its growth."

Under the terms of the agreement, the package of consideration
includes funding the forecast capital requirements of the company
through to cash break even (forecast to be as much as $15 million),
the assumption by the buyer of all going-forward liabilities of the
business, the hiring of all of the seller's employees on current
terms, the ability of the seller to pay all accrued liabilities of
the business during the bankruptcy case, additional cash
consideration, and certainty regarding a closing of the sale on
Monday, May 9, 2016, while also leaving in the estate potentially
valuable claims against third parties.

Having already received Court approval, the transaction is not
subject to any closing conditions and is expected to be completed
on Monday, May 9, 2016.  The company's subsidiaries located outside
the U.S. were not included in the Court proceedings but are
included in the sale.

Landis Rath & Cobb LLP is serving as legal advisor, Sagent Advisors
LLC is serving as financial advisor and Ernst & Young Capital
Advisors LLC is serving as restructuring advisor to Jumio. Winston
& Strawn LLP is serving as legal advisor to Centana Growth
Partners.

                            About Jumio

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

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

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


KEMET CORP: Hikes BofA Credit Facility to $65 Million
-----------------------------------------------------
Kemet Electronics Corporation, Kemet Foil Manufacturing, LLC,
Kemet Blue Powder Corporation, The Forest Electric Company and
Kemet Electronics Marketing (S) Pte Ltd. (collectively,
"Borrowers"), the financial institutions party thereto as lenders
and Bank of America, N.A., a national banking association, as agent
for the Lenders, entered into Amendment No. 8 to the Loan and
Security Agreement dated Sept. 30, 2010, as amended which provided
a $50.0 million revolving credit facility to the Borrowers.

Under the terms of the Amendment the Facility is increased to $65
million, as disclosed in a regulatory filing with the Securities
and Exchange Commission.

A copy of the Amendment Number Eight to Loan and Security Agreement
is available for free at http://goo.gl/vvaAeb

                            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.


KENTUCKIANA HEALTHCARE: PRN Suit Remanded to State Court
--------------------------------------------------------
Judge Jane Magnus-Stinson of the United States District Court for
the Southern District of Indiana, Indianapolis Division granted the
Motion to Remand or, Alternatively, for Abstention filed by PRN
Pharmaceutical Services, LP ("PRN") and Omnicare, Inc.
("Omnicare")(collectively, the "PRN Parties"), denied the PRN
Parties' Motion to Strike Certain Exhibits and Incorporation of
Other Briefs into Kentuckiana Healthcare, LLC's ("Kentuckiana")
opposition brief, denied Kentuckiana's Motion to Strike and to File
a Motion for Leave to File a Sur-reply Brief, and denied all other
pending motions as moot.

Judge Magnus-Stinson concluded that Kentuckiana has not met its
burden as the removing party to establish federal jurisdiction, and
remanded the case to Marion Superior Court.

The case is PRN PHARMACEUTICAL SERVICES, LP, Plaintiff, v.
KENTUCKIANA HEALTHCARE, LLC, et al., Defendants. KENTUCKIANA
HEALTHCARE, LLC, et al., Counter-Plaintiffs, v. PRN PHARMACEUTICAL
SERVICES, LP, Counter-Defendant. KENTUCKIANA HEALTHCARE, LLC,
Third-Party Plaintiff, v. OMNICARE, INC., Third-Party Defendant,
No. 1:15-cv-2030-JMS-DKL (S.D. Ind.).

A full-text copy of the April 15, 2016 order is available at
http://is.gd/9aHijEfrom Leagle.com.

PRN PHARMACEUTICAL SERVICES, LP is represented by:

          Aaron D. Grant, Esq.
          Adam Arceneaux, Esq.
          Kaitlyn Jordan Marschke, Esq.
          ICE MILLER LLP
          One American Square, Suite 2900
          Indianapolis, IN 46282-0200
          Tel: (317)236-2100
          Fax: (317)236-2219
          Email: aaron.grant@icemiller.com
                 adam.arceneaux@icemiller.com
                 katie.marschke@icemiller.com

            -- and --

          Tyson Crist, Esq.
          ICE MILLER LLP
          Arena District
          250 West Street, Suite 700
          Columbus, OH 43215
          Tel: (614)462-2700
          Fax: (614)462-5135
          Email: tyson.crist@icemiller.com

BROWNSBURG HEALTH CARE CENTER, LLC is represented by:

          Bradley Scott Salyer, Esq.
          MORGAN & POTTINGER, P.S.C.
          2501 Crossings Boulevard, Suite 209
          Bowling Green, KY 42104
          Tel: (270)842-9005
          Email: bss@morganandpottinger.com

            -- and --

          Norris Cunningham, Esq.
          HUDDLESTON BOLEN LLP
          707 Virginia St. E., Suite 1300
          Charleston, WV 25337
          Tel: (304)344-9869

PARAMOUNT HEALTHCARE MANAGEMENT, LLC and PARAMOUNT OF INDIANAPOLIS,
LLC are represented by:

          Michael Wayne McClain, II, Esq.
          BALLINGER MCCLAIN, PLLC
          9720 Park Plaza Avenue, Suite 102
          Louisville, KY 40241
          Tel: (888)719-0033
          Fax: (502)426-3216

OMNICARE, INC. is represented by:

          Aaron D. Grant, Esq.
          Adam Arceneaux, Esq.
          George A. Gasper, Esq.
          ICE MILLER LLP
          One American Square, Suite 2900
          Indianapolis, IN 46282-0200
          Tel: (317)236-2100
          Fax: (317)236-2219
          Email: aaron.grant@icemiller.com
                 adam.arceneaux@icemiller.com
                 george.gasper@icemiller.com

            -- and --

          Tyson Crist, Esq.
          ICE MILLER LLP
          Arena District
          250 West Street, Suite 700
          Columbus, OH 43215
          Tel: (614)462-2700
          Fax: (614)462-5135
          Email: tyson.crist@icemiller.com

KENTUCKIANA HEALTHCARE, LLC is represented by:

          Peter M. Gannott, Esq.
          GANNOTT LAW GROUP
          12910 Shelbyville Road, Suite 115
          Louisville, KY 40243
          Tel: (502)749-8800


KNH AVIATION: Bid to Dismiss Suit vs. Michael Hill, et al., Denied
------------------------------------------------------------------
Judge David R. Duncan of the United States Bankruptcy Court for the
District of South Carolina denied the defendants' motion to dismiss
the case captioned Michelle Vieira, chapter 7 trustee for KNH
Aviation Services, Inc. d/b/a AvCraft Technical Services,
Plaintiff, v. Michael Hill, Donald Kamenz, Derek Nice, Carol Drew,
and Jesper Lundberg, Defendants, Adv. Pro. No. 15-80170-DD (Bankr.
D.S.C.).

The defendants Michael Hill, Donald Kamenz, Derek Nice, Carol Drew,
and Jesper Lundberg filed on February 1, 2016 a Partial Motion to
Dismiss Plaintiff's Amended Complaint.  The plaintiff Michelle
Vieira filed an objection to the Motion to Dismiss on March 11,
2016.  A hearing was held on March 22, 2016.  At the hearing, Judge
Duncan gave the parties ten (10) additional days to prepare and
file supplemental memoranda.  Both parties filed a supplemental
memorandum on April 1, 2016.

A full-text copy of Judge Duncan's April 12, 2016 order is
available at http://is.gd/c68sM8from Leagle.com.

The bankruptcy case is In re, KNH Aviation Services, Inc. d/b/a
AvCraft Technical Services, Chapter 7 Debtor, CA No. 15-01641-DD
(Bankr. D.S.C.).


LEGAL CREDIT: Case Summary & 20 Largest Unsecured Creditors
-----------------------------------------------------------
Debtor: Legal Credit Solutions, Inc.
        2000 Carr 8177
        Suite 26, PBB 106
        Guaynabo, PR 00966

Case No.: 16-03685

Chapter 11 Petition Date: May 6, 2016

Court: United States Bankruptcy Court
       District of Puerto Rico (Old San Juan)

Judge: Hon. Brian K. Tester

Debtor's Counsel: Paul James Hammer, Esq.
                  ESTRELLA, LLC
                  PO BOX 9023596
                  San Juan, PR 00902
                  Tel: 787-977-5050
                  Fax: 787-977-5090
                  E-mail: phammer@estrellallc.com

Estimated Assets: $0 to $50,000

Estimated Liabilities: $1 million to $10 million

The petition was signed by Mrs. Yahairie Tapia, president.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/prb16-03685.pdf


LEGEND INTERNATIONAL: Case Summary & 20 Top Unsecured Creditors
---------------------------------------------------------------
Debtor: Legend International Holdings Inc.
        PO Box 6315
        St Kilda Road Central
        Melbourne, VIC 3004

Case No.: 16-11131

Nature of Business: Phosphate company

Chapter 11 Petition Date: May 8, 2016

Court: United States Bankruptcy Court
       District of Delaware (Delaware)

Debtor's Counsel: Steven K. Kortanek, Esq.
                  DRINKER BIDDLE & REATH LLP
                  222 Delaware Avenue, Suite 1410
                  Wilmington, DE 19801
                  Tel: 302-467-4238
                  Fax: 302-467-4201
                  E-mail: Steven.Kortanek@dbr.com

Total Assets: $7.24 million as of April 30, 2016

Total Debts: $13.2 million as of April 30, 2016

The petition was signed by Joseph Gutnick, chairman of the
Board/President & CEO.

A list of the Debtor's 20 largest unsecured creditors is available
for free at http://bankrupt.com/misc/deb16-11131.pdf


MAGNUM HUNTER: Reorganization Plan Takes Effect, Exits Chapter 11
-----------------------------------------------------------------
Magnum Hunter Resources Corporation and certain of its wholly-owned
subsidiaries on May 9 disclosed that its chapter 11 plan of
reorganization, which was confirmed by the United States Bankruptcy
Court for the District of Delaware on April 18, 2016, has gone
effective.  As planned, Magnum Hunter successfully emerged from
chapter 11 less than five months after voluntarily filing for
bankruptcy protection to consummate its pre-negotiated plan of
reorganization.

The Company completed a very effective balance-sheet restructuring
that de-leveraged substantially all of Magnum Hunter's $1 billion
of pre-bankruptcy funded indebtedness and converted 100% of its
post-filing debtor-in-possession ("DIP") financing into equity
pursuant to a consensual debt-to-equity exchange.  Previously
burdened by cumbersome long-term obligations and declining
commodity prices, today Magnum Hunter emerges from bankruptcy with
a significantly stronger balance sheet and the ability to focus on
creating value and achieving its long-term growth objectives.  Most
importantly, the Company achieved a successful and expeditious
restructuring with minimal disruption to its employees, vendors,
and operations.  Additionally, after successfully reaching a
resolution of all claims and controversies with Eureka Midstream
Holdings, LLC and certain of its affiliates, the Company and Eureka
will move forward with a stronger relationship post-emergence.

Currently the new Board of Directors is actively engaged in a
search for a permanent Chief Executive Officer.  In the interim,
Joseph C. Daches, current Chief Financial Officer, and Rick S.
Farrell, current SVP Business Development/Land, will serve as
co-Chief Executive Officers.

"Magnum Hunter has worked successfully to fulfill the
pre-negotiated restructuring support agreement milestones with the
objective of achieving the best possible solution for all of our
stakeholders.  Without the cooperation of our dedicated employees
and the strength of our relationships with royalty owners, vendors,
suppliers and capital providers, this would not have been possible.
Under the direction of our new Board of Directors, we look forward
to growing our Company strategically and profitably," said Daches
and Farrell.

Magnum Hunter was represented by Kirkland & Ellis as restructuring
counsel, PJT Partners as Investment Banker and Alvarez & Marsal
North America as financial advisors.

                       About Magnum Hunter

Magnum Hunter Resources Corporation is an oil and gas company
headquartered in Irving, Texas that primarily is engaged in the
acquisition, development, and production of oil and natural gas
reserves in the United States.  MHRC and its affiliates own
interests in approximately 431,643 net acres in total and have
proved reserves with an industry value of approximately $234.5
million as of December 31, 2015.  In the aggregate, MHRC generated
approximately $391.5 million in revenue from their operations in
2014 and generated approximately $169.3 million in revenues from
their operations for the ten months ended October 31, 2015.

Magnum Hunter Resources Corporation and 19 of its affiliates filed
Chapter 11 bankruptcy petitions (Bankr. D. Del. Proposed Lead Case
No. 15-12533) on Dec. 15, 2015.  The petitions were signed by Gary
C. Evans as chairman and chief executive officer.

Judge Kevin Gross oversees the cases.  The Debtors have engaged
Kirkland & Ellis, LLP as their general counsel, Pachulski Stang
Ziehl & Jones LLP as local counsel, PJT Partners, LP as investment
banker, Alvarez & Marsal North America, LLC, as restructuring
advisor, and Prime Clerk, LLC as notice, claims and balloting
agent.

The U.S. Trustee has named three members to the Official Committee
of Unsecured Creditors.  The Committee retains Ropes & Gray LLP as
counsel, Cole Schotz P.C. as Delaware co-counsel, and Berkeley
Research Group, LLC as its financial advisor.

                            *     *     *

Bankruptcy Judge Gross on April 18, 2016, issued findings of fact,
conclusions of law, and order confirming Magnum Hunter Resources
Corporation, et al.'s Third Amended Joint Chapter 11 Plan of
Reorganization.  The key element of the Plan is the agreement of
creditors to convert their pre- and postpetition funded debt
claims, including the DIP facility claims of up to $200 million,
second lien claims of $336.6 million, and note claims of $600
million, into new common equity.  Specifically, the DIP Facility
Lenders shall receive their pro rata share of 28.8 percent of the
new common equity, the second lien lenders will receive their Pro
Rata share of 36.87 percent of the New Common Equity, and the
Noteholders shall receive their Pro Rata share of 31.33 percent of
the New Common Equity (all of which is subject to dilution by the
Management Incentive Plan).  Moreover, the holders of the equipment
and real estate notes with principal totaling $13.2 million will
have their claims reinstated.

The holders of general unsecured claims will receive their pro rata
share of the unsecured creditor cash pool.  It is currently
intended that the unsecured creditor cash pool will be $20,000,000,
which amount may be subject to the costs of any professional fees
or other expenses incurred as part of the claims reconciliation
process.


MARINA BIOTECH: Cancels Talks on Sale of Therapeutic Assets
-----------------------------------------------------------
Marina Biotech, Inc., announced that it has terminated negotiations
with Microlin Bio, Inc. for the sale of the Company's nucleic acid
therapeutic assets as previously reported on March 15, 2016.

"After waiting six weeks for either a draft asset purchase
agreement or a financing term sheet, we were finally presented a
financing document yesterday to purchase our 'aged-debt'," stated
J. Michael French, president and chief executive officer at Marina
Biotech.  "The Marina Board of Directors and I found the lack of
progress totally unacceptable and terminated any further
discussions with Microlin.  We believe we can better serve our
shareholders by pursuing other alternatives at this time."

                    About Marina Biotech

Marina Biotech, Inc., headquartered in Bothell, Washington, is a
biotechnology company focused on the discovery, development and
commercialization of nucleic acid-based therapies utilizing gene
silencing approaches such as RNA interference ("RNAi") and
blocking messenger RNA ("mRNA") translation.  The Company's goal
is to improve human health through the development, either through
its own efforts or those of its collaboration partners and
licensees, of these nucleic acid-based therapeutics as well as the
delivery technologies that together provide superior treatment
options for patients.  The Company has multiple proprietary
technologies integrated into a broad nucleic acid-based drug
discovery platform, with the capability to deliver novel nucleic
acid-based therapeutics via systemic, local and oral
administration to target a wide range of human diseases, based on
the unique characteristics of the cells and organs involved in
each disease.

On June 1, 2012, the Company announced that, due to its financial
condition, it had implemented a furlough of approximately 90% of
its employees and ceased substantially all day-to-day operations.
Since that time substantially all of the furloughed employees have
been terminated.  As of Sept. 30, 2012, the Company had
approximately 11 remaining employees, including all of its
executive officers, all of whom are either furloughed or working
on reduced salary.  As a result, since June 1, 2012, its internal
research and development efforts have been minimal, pending
receipt of adequate funding.

Marina Biotech reported a net loss of $6.47 million on $500,000 of
license and other revenue for the year ended Dec. 31, 2014,
compared to a net loss of $1.57 million on $2.11 million of license
and other revenue in 2013.

As of Sept. 30, 2015, the Company had $8.12 million in total
assets, $8.52 million in total liabilities and a $400,000 total
stockholders' deficit.

Wolf & Company, P.C., in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing the Company has suffered
recurring losses from operations, has a significant accumulated
deficit and has been unable to raise sufficient capital to fund its
operations through the end of 2015.  This raises substantial doubt
about the Company's ability to continue as a going concern, the
auditors noted.


MARINA BIOTECH: To Acquire Late-Stage Program from Turing
---------------------------------------------------------
Marina Biotech, Inc., and Turing Pharmaceuticals AG announced that
they have executed a term sheet under which Marina intends to
acquire Turing's intranasal ketamine program.  Pending the
negotiation of the definitive agreement, Marina is expected to
acquire Turing's intranasal ketamine program for approximately 53
million Marina common shares.

The assets to be acquired will include all patents and intellectual
property rights, clinical development plans, regulatory documents
and existing product inventories.  As per the term sheet, Marina
will pay to Turing up to $95 million in success- and sales-based
milestones plus a mid-single digit royalty on net sales.  Further
terms of the proposed transaction were not disclosed.

"We are extremely pleased to have this opportunity to bring in a
late-stage clinical program with the potential for approval in
multiple indications including certain rare disorders," stated J.
Michael French, president and CEO at Marina Biotech.  "The program
has been advanced worldwide with plans for U.S. and international
clinical trial sites.  The work thus far has predominately been
directed at suicidality in post-traumatic stress disorder; a
patient population with few, if any, therapeutic options.  We
believe the early clinical successes of this program combined with
broadening acceptance of ketamine as a treatment for neurological
and psychiatric diseases, presents a unique opportunity to rapidly
move this compound into the U.S. market as early as 2019.  In
addition, there is some earlier work by academic centers suggesting
that intranasal ketamine might be efficacious in patients suffering
from certain rare diseases.  We look forward to working with the
Turing team to conclude this transaction and transfer the assets as
quickly as possible in order to maintain the momentum of this
program."

"We too are pleased to enter into this relationship with Marina and
to have found a company capable of giving this program the priority
it deserves," stated Eliseo Salinas, M.D., president of Research
and Development at Turing Pharmaceuticals,  "I have been impressed
with the progress our research and development team has made over
the past six months in advancing intranasal ketamine for the
treatment of suicidality.  I look forward to working with the
Marina team to rapidly transition this program so that we can
maintain our momentum and bring this compound to market as quickly
as possible."

Marina's purchase of Turing's Phase 3 intranasal ketamine program
is expected to close by July 1, 2016, pending the completion of
customary due diligence considerations, the negotiation, execution
and delivery of a definitive asset purchase agreement, and the
satisfaction or waiver of the closing conditions set forth
in the asset purchase agreement, including the completion by Marina
of a financing transaction yielding proceeds sufficient to initiate
and support the Phase 3 efforts.

Mr. French added, "Regarding the sale of our nucleic acid
therapeutics assets, which we previously announced in our press
release dated March 15, 2016, we have terminated the on-going
efforts to sell these assets to Microlin Bio, Inc.  However, we
continue to explore opportunities to advance our existing clinical
and preclinical programs through either our own efforts or those of
a collaboration partner and leverage our nucleic acid drug
discovery engine through collaborative partnerships or sale.  The
Marina Board of Directors and I believe that the opportunity to
bring the ketamine compound to market within the next four years
combined with the ability to leverage our nucleic acid assets,
creates the best opportunity to build value for our shareholders."

Objective Capital Partners, LLC served as an advisor to Marina
Biotech in the transaction.

                    About Marina Biotech

Marina Biotech, Inc., headquartered in Bothell, Washington, is a
biotechnology company focused on the discovery, development and
commercialization of nucleic acid-based therapies utilizing gene
silencing approaches such as RNA interference ("RNAi") and
blocking messenger RNA ("mRNA") translation.  The Company's goal
is to improve human health through the development, either through
its own efforts or those of its collaboration partners and
licensees, of these nucleic acid-based therapeutics as well as the
delivery technologies that together provide superior treatment
options for patients.  The Company has multiple proprietary
technologies integrated into a broad nucleic acid-based drug
discovery platform, with the capability to deliver novel nucleic
acid-based therapeutics via systemic, local and oral
administration to target a wide range of human diseases, based on
the unique characteristics of the cells and organs involved in
each disease.

On June 1, 2012, the Company announced that, due to its financial
condition, it had implemented a furlough of approximately 90% of
its employees and ceased substantially all day-to-day operations.
Since that time substantially all of the furloughed employees have
been terminated.  As of Sept. 30, 2012, the Company had
approximately 11 remaining employees, including all of its
executive officers, all of whom are either furloughed or working
on reduced salary.  As a result, since June 1, 2012, its internal
research and development efforts have been minimal, pending
receipt of adequate funding.

Marina Biotech reported a net loss of $6.47 million on $500,000 of
license and other revenue for the year ended Dec. 31, 2014,
compared to a net loss of $1.57 million on $2.11 million of license
and other revenue in 2013.

As of Sept. 30, 2015, the Company had $8.12 million in total
assets, $8.52 million in total liabilities and a $400,000 total
stockholders' deficit.

Wolf & Company, P.C., in Boston, Massachusetts, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2014, citing the Company has suffered
recurring losses from operations, has a significant accumulated
deficit and has been unable to raise sufficient capital to fund its
operations through the end of 2015.  This raises substantial doubt
about the Company's ability to continue as a going concern, the
auditors noted.


MCCLATCHY CO: Incurs $12.7 Million Net Loss in First Quarter
------------------------------------------------------------
The McClatchy Company filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $12.7 million on $238 million of revenues for the three months
ended March 27, 2016, compared to a net loss of $11.3 million on
$257 million of revenues for the three months ended March 29,
2015.

As of March 27, 2016, the Company had $1.88 billion in total
assets, $1.70 billion in total liabilities and $179 million in
total stockholders' equity.

The Company's cash and cash equivalents were $17.6 million as of
March 27, 2016, compared to $73.5 million as of March 29, 2015, and
$9.3 million as of Dec. 27, 2015.  

"We expect that most of our cash and cash equivalents, and our cash
generated from operations, for the foreseeable future will be used
to repay debt, pay income taxes, fund our capital expenditures,
invest in new revenue initiatives, digital investments and
enterprise-wide operating systems, make required contributions to
the Pension Plan, repurchase stock, and other corporate uses as
determined by management and our Board of Directors.  As of March
27, 2016, we had approximately $906.5 million in total aggregate
principal amounts of debt outstanding, consisting of $34.7 million
of our 5.750% notes due in 2017, $506.4 million of our 9.00% Notes
due 2022 and $365.4 million of our notes maturing in 2027 and 2029.
We expect that we will refinance a significant portion of this
debt prior to the scheduled maturity of such debt.  However, we may
not be able to do so on terms favorable to us or at all.  We may
also be required to use cash on hand or cash from operations to
meet these obligations.  We believe that our cash from operations
is sufficient to satisfy our liquidity needs over the next 12
months, while maintaining adequate cash and cash equivalents."

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

                       http://goo.gl/a0VwHw

                    About The McClatchy Company

Sacramento, Cal.-based The McClatchy Company (NYSE: MNI)
-- http://www.mcclatchy.com/-- is a media company that provides
both print and digital news and advertising services.  Its
operations include 30 daily newspapers, community newspapers,
websites, mobile news and advertising, niche publications, direct
marketing and direct mail services.  Its owned newspapers include,
among others, the (Fort Worth) Star-Telegram, The Sacramento Bee,
The Kansas City Star, the Miami Herald, The Charlotte Observer,
and The (Raleigh) News & Observer.  The Company holds interest in
digital assets which include CareerBuilder, LLC, Classified
Ventures, LLC, HomeFinder, LLC, and Wanderful Media.

McClatchy reported a net loss of $300 million on $1.05 billion of
net revenues for the year ended Dec. 27, 2015, compared to net
income of $374 million on $1.14 billion of net revenues for the
year ended Dec. 28, 2014.

                           *     *     *

McClatchy carries a 'Caa1' corporate family rating from Moody's
Investors Service.  In May 2011, Moody's changed the rating
outlook from stable to positive following the company's
announcement that it closed on the sale of land in Miami for
$236 million.  The outlook change reflects Moody's expectation
that McClatchy will utilize the net proceeds to reduce debt,
including its underfunded pension position, which will reduce
leverage by approximately half a turn and lower required
contributions to the pension plan over the next few years.

As reported by the TCR on April 2, 2014, Standard & Poor's Ratings
Services affirmed all ratings on U.S. newspaper company The
McClatchy Co., including the 'B-' corporate credit rating, and
revised the rating outlook to stable from positive.  The outlook
revision to stable reflects S&P's expectation that the
timeframe for a potential upgrade lies beyond the next 12 months,
and could also depend on the company realizing value from its
digital minority interests.


MCK MILLENNIUM: Golding & Kraft Don't Need Retainers, Lender Says
-----------------------------------------------------------------
Lender, MLMT 2005-MKB2 Millennium Centre Retail LLC filed with the
U.S. Bankruptcy Court for the Northern District of Illinois its
objection to Debtor, MCK Millennium Centre Retail LLC's application
to employ The Golding Law Offices, P.C. as counsel, and Michael A.
Kraft of the Kraft Law Office as real estate counsel, to the
Debtor.

The Lender does not object to the motions to the extent that they
seek the retention of general counsel and special real estate
counsel for the Debtor.  The Lender does, however, object to the
motions to the extent that they seek authorization to pay retainers
to such counsel.

The Lender alleged that any proposed use of cash collateral,
including but not limited to the funding of such proposed
retainers, is not permitted because Lender has not consented to
such use and is not adequately protected.

There is no need to fund the retainers, the Lender contends.  It
reminds the Court that on April 5, 2016, the Debtor filed its
Motion for an Order Authorizing Use of Cash Collateral and Granting
of Adequate Protection.  The Debtor asserts in the Cash Collateral
Motion that there is substantial equity in the Debtor's property.
While the Lender reserves all of its rights with respect to that
factual assertion, the Debtor is estopped from taking a contrary
position for purposes of the motions. Clearly there is no
legitimate need for retainers if there is substantial equity.

The Lender is represented by:

     Donald A. Cole, Esq.
     Leslie A. Bayles, Esq.
     BRYAN CAVE LLP
     161 North Clark Street, Suite 4300
     Chicago, IL 60601
     Tel: (312) 602-5000
     Fax: (312) 602-5050
     E-mail: donald.cole@bryancave.com
             leslie.bayles@bryancave.com

        - and -

     Lawrence P. Gottesman, Esq.
     ALLEGAERT BERGER & VOGEL LLP
     111 Broadway, 20th Floor
     New York, NY 10006
     Tel: (212) 571-0550
     Fax: (212) 571-0555
     E-mail: lgottesman@abv.com

                      About MCK Millennium

MCK Millennium Centre Realty, LLC filed for Chapter 11 protection
(Bankr. N.D. Ill. Case No. 16-06369) on February 25, 2016. The
petition was signed by by William A Marovitz, member. Hon. Jack B.
Schmetterer presides over the case.  The Debtor estimated assets of
$10 million to $50 million and estimated debts of $0 to $50,000.


MCK MILLENNIUM: Hires Golding Law Offices as Counsel
----------------------------------------------------
MCK Millennium Centre Retail LLC seeks authority from the U.S.
Bankruptcy Court for the Northern District of Illinois to employ
The Golding Law Offices, P.C. as counsel to the Debtor.

MCK Millennium requires Golding to:

   (a) give the Debtor legal advice with respect to its rights,
       powers and duties as Debtor-in Possession;

   (b) assist the Debtor in the negotiation and formulation, and
       ultimate confirmation of a plan of reorganization that
       deals with all creditors, including the preparation and
       dissemination of the disclosure statement;

   (c) examine and investigate claims asserted against the
       Debtor;

   (d) take such actions as may be necessary with reference to
       the claims asserted against the Debtor;

   (e) investigate, advise and inform Debtor about and take
       action as may be necessary to collect and, in accordance
       with applicable law, recover or sell for the benefit of
       the estate, the property of the Debtor;

   (f) prepare, on behalf of the Debtor, all necessary and
       appropriate applications, motions, pleadings, orders,
       reports and other legal papers as may be necessary or
       required in connection with this case;

   (g) assist the Debtor in obtaining refinancing of its secured
       debt or selling its primary asset; and

   (h) perform all other legal services for the Debtor that may
       be necessary or appropriate in this case.

Golding will be paid at these hourly rates:

     Richard N. Golding           $400
     Jonathan D. Golding          $300
     Paralegals                   $175

Prior to filing the Chapter 11 case, the Debtor agreed to pay
to Golding a retainer of $20,000.00, payable $10,000 at the time of
the emergency filing and the sum of $10,000 in 30 days, subject to
approval by the Bankruptcy Court and any cash collateral orders to
be entered hereafter. The Debtor has reimbursed Golding for the
filing fee in the sum of $1717.  Golding will also be reimbursed
for reasonable out-of-pocket expenses incurred.

To the best of the Debtor's knowledge the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

The Golding can be reached at:

     Richard N. Golding, Esq.
     Jonathan D. Golding, Esq.
     THE GOLDING LAW OFFICES, PC
     500 N. Dearborn Street, 2nd Floor
     Chicago, IL 60654
     Tel: (312) 832-7892
     Fax: (312) 755-5720
     Email: rgolding@goldinglaw.net
            jgolding@goldinglaw.net

                      About MCK Millennium

MCK Millennium Centre Realty, LLC filed for Chapter 11 protection
(Bankr. N.D. Ill. Case No. 16-06369) on February 25, 2016. The
petition was signed by by William A Marovitz, member. Hon. Jack B.
Schmetterer presides over the case.  The Debtor estimated assets of
$10 million to $50 million and estimated debts of $0 to $50,000.


MCK MILLENNIUM: Hires Kraft as Real Estate Counsel
--------------------------------------------------
MCK Millennium Centre Retail LLC seeks authority from the U.S.
Bankruptcy Court for the Northern District of Illinois to employ
Michael A. Kraft of the Kraft Law Office as real estate counsel to
the Debtor.

MCK Millennium requires Kraft to:

   (a) give the Debtor legal advice with respect to its rights,
       powers and duties as landlord of its property and in
       relationship to its tenants;

   (b) assist the Debtor in negotiation and formulation and
       ultimate sales or refinance transaction;

   (c) investigate, advise and inform the Debtor about and take
       action as may be necessary to transfer by sale or
       refinance the Debtor's real estate; and, in accordance
       with applicable law, recover or sell for the benefit of
       the estate, the property of the Debtor;

   (d) assist the Debtor in obtaining refinancing of its secured
       debt or selling its primary asset; and

   (e) perform all other legal services for the Debtor that may
       be necessary or appropriate in this case with regard to
       such contemplated activities and such other related
       business activities.

Kraft will be paid at these hourly rates:

     Michael A, Kraft            $300
     Paralegals                  $175

Prior to filing the Chapter 11 case, the Debtor agreed to pay to
Kraft a retainer of $20,000, payable $10,000 at the time of the
approval of the motion and the sum of $10,000 in 30 days, subject
to approval by the Bankruptcy Court and any cash collateral orders
to be entered hereafter.

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

To the best of the Debtor's knowledge the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

Kraft can be reached at:

     Michael A. Kraft, Esq.
     KRAFT LAW OFFICE
     Westwood, MA
     Tel: (781) 990-0996

                      About MCK Millennium

MCK Millennium Centre Realty, LLC filed for Chapter 11 protection
(Bankr. N.D. Ill. Case No. 16-06369) on February 25, 2016. The
petition was signed by William A Marovitz, member. Hon. Jack B.
Schmetterer presides over the case.  The Debtor estimated assets of
$10 million to $50 million and estimated debts of $0 to $50,000.


MICHAEL AZIZ: Abbas Corp. Wins Bid for Summary Judgment
-------------------------------------------------------
In the case captioned ABBAS CORPORATION (PVT) Limited, Plaintiff,
and HOME INTERIORS CORP., Intervenor/Plaintiff, v. MICHAEL AZIZ
ORIENTAL RUGS, INC., Defendant, Civil Action No. 14-mc-91053-TSH
(D. Mass.), Judge Timothy S. Hillman of the United States District
Court for the District of Massachusetts issued an order allowing
the motion for summary judgment filed by Abbas Corporation (PVT)
Limited and denying Home Interiors Corp.'s cross-motion for summary
judgment.

The action involves a dispute between Home Interiors and Abbas
regarding who should have priority to the assets of the defendant,
Michael Aziz Oriental Rugs, Inc. ("Aziz, Inc.").  Abbas originally
filed suit in the district court for the District of Massachusetts
seeking to register a judgment in the amount of $438,517.92 that it
had obtained against Aziz, Inc. in the United States District Court
for the Southern District of New York.  Home Interiors, which the
court permitted to intervene, claimed priority over Abbas as a
result of a security interest in Aziz Inc.'s assets which it
purchased from Valley National Bank in June of 2012.  Among the
assets against which Abbas and Home Interiors sought to execute is
a debt owed to Aziz, Inc. by Arthur T. Gregorian, Inc.
("Gregorian") a rug retailer located in Newtown Lower Falls,
Massachusetts.

Judge Hillman's order addressed Abbas Corporation (PVT) Limited's
Motion for Summary Judgment and Intervenor-Defendant Home
Interior's Memorandum of Law In Opposition To Plaintiff's Motion
For Summary Judgment.

A full-text copy of Judge Hillman's April 19, 2016 memorandum
decision and order is available at http://is.gd/i8hMKafrom
Leagle.com.

Home Interiors Corp. is represented by:

          Craig Bonnist, Esq.
          MCCARTER & ENGLISH, LLP
          One Canterbury Green
          201 Broad St.
          Stamford, CT 06901
          Tel: (203)399-5900
          Fax: (203)399-5800
          Email: cbonnist@mccarter.com

            -- and --

          John M. Allen, Esq.
          Kristy L. Avino, Esq.
          MCCARTER & ENGLISH, LLP
          265 Franklin St.
          Boston, MA 02110
          Tel: (617)449-6500
          Fax: (617)607-9200
          Email: jallen@mccarter.com
                 kavino@mccarter.com

Abbas Corporation (PVT) Limited is represented by:

          Glenn P. Berger, Esq.
          JAFFE & ASHER LLP
          600 Third Avenue
          New York, NY 10016
          Tel: (212)687-3000
          Fax: (212)687-9639
          Email: gberger@jaffeandasher.com

            -- and --

          Noemi A. Kawamoto, Esq.
          YURKO SALVESEN & REMZ, P.C.
          One Washington Mall, 11th Floor
          Boston, MA 02108-2603
          Tel: (617)723-6900
          Fax: (617)723-6905
          Email: nkawamoto@bizlit.com


MIDWAY GOLD: GRP Minerals Designated as Stalking Horse Bidder
-------------------------------------------------------------
Midway Gold US Inc. announced that it has designated GRP Minerals,
LLC, as stalking horse purchaser of its remaining assets.

GRP Minerals made a $5.25 million cash offer for Midway Gold's gold
mining and exploration projects, including two gold-producing
properties: the Pan and the Gold Rock projects.

The company also offered to assume reclamation liability estimated
to be approximately $16.1 million, according to court filings.

GRP Minerals will receive 3% of $5.25 million in case Midway Gold
selects a rival offer for the assets.  It will also receive expense
reimbursement of up to $150,000.

                        About Midway Gold

Midway Gold Corp., incorporated on May 14, 1996 under the laws of
the Province of British Columbia, Canada, is engaged in the
acquisition, exploration and development of mineral properties
located in the state of Nevada and Washington.

Midway Gold operates primarily through its wholly-owned subsidiary
located in the United States, Midway Gold US Inc.  The executive
offices are in Englewood, Colorado.  Midway US currently has one
gold producing property: the Pan gold mine located in White Pine
County, Nevada.  Midway also has gold properties which are
exploratory stage projects where gold mineralization has been
identified, such as the Tonopah project in Nye County, Nevada, the
Gold Rock project in White Pine County, Nevada, and the Golden
Eagle project in Ferry County, Washington.  Out of these projects,
a permitting process has been undertaken only for the Gold Rock
project.  Finally, Midway's Spring Valley property, another gold
property located in Pershing County, Nevada, is subject to a joint
venture with Barrick Gold Exploration Inc.

On June 22, 2015, Midway Gold US Inc. and 12 related entities,
including parent Midway Gold Corp. each filed a petition in the
U.S. Bankruptcy Court for the District of Colorado seeking relief
under Chapter 11 of the U.S. Bankruptcy Code.  The Debtors' cases
have been assigned to Judge Michael E. Romero.  

Judge Michael E. Romero directed the joint administration of the
cases under Case No. 15-16835.

The Debtors tapped Squire Patton Boggs (US) LLP as lead bankruptcy
counsel; Sender Wasserman Wadsworth, P.C., as special bankruptcy
and restructuring counsel; DLA Piper (Canada) LLP, as Canadian
bankruptcy counsel; Ernst & Young Inc., as information officer of
Canadian court; RBC Capital Markets, as investment banker; FTI
Consulting as financial advisor; and Epiq Solutions, as claims and
noticing agent.

Midway Gold Corp. disclosed $184 million in assets and $62.4
million in liabilities as of March 31, 2015.  Midway Gold US Inc.,
disclosed total assets of $2,461,673 and total liabilities of
$122,448,181 as of the Chapter 11 filing.

In July, the U.S. Trustee overseeing the Debtors' cases appointed
seven creditors to serve on the official committee of unsecured
creditors.  The creditors are American Assay Laboratories, EPC
Services Company, InFaith Community Foundation, Jacobs Engineering
Group Inc., SRK Consulting (US) Inc., Sunbelt Rentals, and Boart
Longyear.  Gavin/Solmonese LLC serves as its financial advisor.


NATIONAL CINEMEDIA: Incurs $4.3 Million Net Loss in First Quarter
-----------------------------------------------------------------
National Cinemedia, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
attributable to the Company of $4.3 million on $76.2 million of
revenue for the three months ended March 31, 2016, compared to a
net loss attributable to the Company of $9 million on $76.9 million
of revenue for the three months ended April 2, 2015.

As of March 31, 2016, National Cinemedia had $1.03 billion in total
assets, $1.21 billion in total liabilities and a total deficit of
$173.3 million.

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

                    http://is.gd/mmU6dC

                  About National CineMedia

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

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

                            *     *     *

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


NATIONAL CINEMEDIA: Reports Results for Fiscal First Quarter 2016
-----------------------------------------------------------------
National CineMedia, Inc. reported a net loss attributable to the
Company of $4.3 million on $76.2 million of revenue for the quarter
ended March 31, 2016, compared to a net loss attributable to the
Company of $9 million on $76.9 million of revenue for the quarter
ended April 2, 2015.

The Company announced that its Board of Directors has authorized
the Company's regular quarterly cash dividend of $0.22 per share of
common stock.  The dividend will be paid on June 2, 2016, to
stockholders of record on May 19, 2016.  The Company intends to pay
a regular quarterly dividend for the foreseeable future at the
discretion of the Board of Directors consistent with the Company's
intention to distribute over time a substantial portion of its free
cash flow in the form of dividends to its stockholders.  The
declaration, payment, timing and amount of any future dividends
payable will be at the sole discretion of the Board of Directors
who will take into account general economic and advertising market
business conditions, the Company's financial condition, available
cash, current and anticipated cash needs, and any other factors
that the Board of Directors considers relevant.

Commenting on the Company's first quarter of 2016 operating
results, Andy England, NCM's CEO said, "I am pleased that we were
able to deliver a solid first quarter performance, exceeding the
top end of our revenue guidance and achieving the top end of
Adjusted OIBDA guidance versus a record first quarter in 2015."
Mr. England concluded, "While shifts in upfront commitments to the
second half of the year have subdued performance versus the first
half of 2015, we remain confident in our business for the full
year."

For the second quarter of 2016, the Company expects total revenue
to be down 3% to 9% and Adjusted OIBDA is expected to be down 7% to
17% from a record second quarter in 2015 that grew revenue and
Adjusted OIBDA 22% and 30%, respectively versus the second quarter
of 2014.  The Company expects total revenue in the range of $111.0
million to $118.0 million during the second quarter of 2016,
compared to total revenue for the second quarter of 2015 of $121.5
million and Adjusted OIBDA in the range of $56.0 million to $63.0
million during the second quarter of 2016 compared to Adjusted
OIBDA for the second quarter of 2015 of $67.4 million.

For the full year 2016, the Company reaffirms its outlook of total
revenue to be up 4% to 6% and Adjusted OIBDA to be up 4% to 8% from
the full year 2015.  The Company expects total revenue in the range
of $463.0 million to $473.0 million for the full year 2016,
compared to total revenue for the full year 2015 of $446.5 million
and Adjusted OIBDA in the range of $238.0 million to $248.0 million
for the full year 2016 compared to Adjusted OIBDA for the full year
2015 of $229.9 million.

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

                       http://is.gd/TH7887

                    About National CineMedia

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

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

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

                            *     *     *

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


NATIONAL CINEMEDIA: Stockholders Elect 3 Directors
--------------------------------------------------
At the annual meeting of stockholders of National CineMedia, Inc.
held on April 29, 2016, the stockholders:

   (a) elected Peter B. Brandow, Lee Roy Mitchell and Craig R.
       Ramsey as class III directors;

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

   (c) approved the Company's 2016 Equity Incentive Plan; and

   (d) ratified the appointment of Deloitte & Touche LLP as the
       Company's independent auditors for the 2016 fiscal year
       ending Dec. 29, 2016.

The following directors' terms continued after the Annual Meeting
of Stockholders:

Class I - Andrew J. England, Lawrence A. Goodman and Scott N.
          Schneider

Class II - David R. Haas, Stephen L. Lanning, Thomas F. Lesinski
           and Paula Williams Madison

The maximum number of shares of the Company's common stock
available for issuance under the Equity Incentive Plan is 4,400,000
shares and shares under the Company's prior 2007 Equity Incentive
Plan are no longer available for issuance.  

                     About National CineMedia

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

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

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

                            *     *     *

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


NET ELEMENT: Amends Loan Agreement with RBL Capital
---------------------------------------------------
TOT Group, Inc., TOT Payments, LLC, TOT BPS, LLC, TOT FBS, LLC,
Process Pink, LLC, TOT HPS, LLC and TOT New Edge, LLC, each a
wholly owned subsidiary of Net Element, Inc., on May 2, 2016,
entered into Amendment No. 1 to the Loan and Security Agreement
with RBL Capital Group, LLC.

Pursuant to the Amendment, the parties amended the Loan and
Security Agreement, dated as of June 30, 2014, pursuant to which
RBL previously provided an up to $10 million credit facility to
Co-Borrowers during the period of 18 months from the closing of
this credit facility.  Because such 18 months period has expired,
the Amendment (i) renewed the term of the credit facility for an
additional 22 months from the date of the Amendment and (ii)
increased the maximum funding amount of such credit facility to $15
million.

The Amendment also amended the definition of "Prepayment Premium"
to either (i) 3% of the aggregate principal balance of the
outstanding note under such facility if the pre-payment of such
note takes place on or before the first anniversary date, (ii) 2%
of the aggregate principal balance of outstanding note under such
facility if the pre-payment of such note takes place after the
first anniversary date and on or before the second anniversary date
or (iii) 0% of the principal balance of outstanding note under such
facility if the pre-payment of such note takes place after the
second anniversary date.  Prepayment Premium for Notes 1, 2 and 3
remained 0%.  The Amendment also provided that Co-Borrowers may
request RBL for additional loans subject to certain conditions set
forth in the Agreement, as amended.

The Amendment provided that Co-Borrowers may prepay the principal
of any term loan, in whole or in part, by (i) paying the Prepayment
Premium on that portion of the term loan Note being prepaid, and
(ii) paying all other amounts then due and outstanding under the
term loan Note being prepaid; and, (iii) upon prepayment of the
final amounts due under the term loan note, paying any backend
financing fees applicable to that note.  The Amendment provides
that Co-Borrowers would be obligated to pay RBL an upfront
financing fee equal to 2% of the face amount of each term loan note
and a backend financing fee equal to 4% of the face amount of each
term loan note.  RBL agreed to finance the upfront fee as part of
the applicable term loan.  Co-Borrowers are obligated to pay the
backend financing fees when the payment of the final term loan
installment of each term loan is effected.  In addition,
Co-Borrowers agreed to pay a one-time supplemental backend
financing fee of $20,000 at the time of the final installment is
paid on Note 3.

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

                    http://is.gd/2CUV5B

                      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.


NOVA CHEMICALS: S&P Affirms 'BB+' CCR, Outlook Stable
-----------------------------------------------------
S&P Global Ratings said it affirmed its 'BB+' long-term corporate
credit rating on Calgary, Alta-based plastics and chemicals
producer NOVA Chemicals Corp.  The outlook is stable.

At the same time, S&P Global Ratings affirmed its 'BB+' issue-level
rating on the company's senior unsecured notes.  The '3' recovery
rating is unchanged indicating S&P's expectation of meaningful
(50%-70%; at the upper end of the range) recovery under our
simulated default scenario.

"The affirmation reflects our view that NOVA will continue to
generate credit measures that remain commensurate with an
intermediate financial risk profile despite the weak operating
environment and elevated capital spending to complete projects in
progress," said S&P Global Ratings credit analyst Michelle
Dathorne.

The ratings on NOVA reflect S&P's view that the company would
continue to maintain an intermediate financial risk profile despite
the current weak operating environment and elevated capital
spending to complete projects in progress.  S&P's satisfactory
business risk profile on NOVA primarily reflects the company's
relatively good market position, improved feedstock diversity, and
structurally advantaged cost position as a North American producer
of ethylene and polyethylene, supported by abundant shale gas-based
ethane feedstock.

The stable outlook on NOVA reflects S&P's expectation that the
company will maintain its fully adjusted three-year,
weighted-average FFO-to-debt above 30%, despite its forecast
reduced cash flows and margin compression.  The outlook also
incorporates S&P's expectation that NOVA will limit its
discretionary and non-discretionary spending within cash flow
generation beyond 2016.

S&P would lower the rating to 'BB' if NOVA's overall financial risk
profile deteriorated relative to S&P's current expectations as a
result of weaker operating performance.  In addition, if the
company generated increasing negative free operating cash flow that
weakened its three-year, weighted-average FFO-to-debt below 30% on
a sustained basis, S&P would lower the rating, because this would
signal a material shift in its financial policy relative to our
current expectations.

The key constraint to an upgrade is the potential for increased
leverage as a result of higher shareholder distributions.  S&P
could consider an upgrade if NOVA's management and owner clearly
articulated a financial policy that supported the maintenance of
credit measures that S&P believed would generate adjusted
FFO-to-debt of more than 45% under trough conditions.


OFFSHORE DRILLING: Fitch Lowers IDRs to B-, Outlook Negative
------------------------------------------------------------
Fitch Ratings has downgraded Offshore Drilling Holding S.A.'s (ODH)
Long-Term foreign and local currency Issuer Default Ratings to 'B-'
from 'B+'; the Rating Outlook is Negative. In addition, Fitch has
downgraded its rating for the company's USD950 million of senior
secured notes to 'B-/RR4' from 'BB-/RR3'.

The rating action reflects heightened re-contracting risk for ODH
in light of Pemex's, the company sole off-taker, marked reductions
to its capital investment program overall and more specifically to
Pemex's reduction in deepwater activities.  As part of Pemex's
MXN100 billion expenditure reduction, the company expects to reduce
its 2016 investments in deep water exploration by approximately
MXN10 billion and look instead for partners with which to carry on
this activity in the future.  This reduction in investments
decreases the likelihood Pemex will continue requiring ODH's
drilling rigs in the short term and increases the company's
re-contracting risk once the renewed contracts start expiring
towards the end of 2017.

The Negative Outlook considers the potential for a deeper and
longer than forecasted offshore drilling down-cycle.  The lower
Recovery Rating reflects the distressed valuation of similar assets
that have been sold recently to Ocean Rig UDW.

                         KEY RATING DRIVERS

ROLL-OVER AND DAY-RATES RISK

Throughout the oil and gas industry, companies are facing pressure
to renegotiate day rates.  While this potentially could impact ODH,
a larger concern is the renewal of its contracts with Pemex that
expire toward the end of 2017, given Pemex's decision to
significantly cut its investments in deepwater exploration.  Prior
to the change in Pemex's management team, ODH extended its
Centenario and Bicentenario drilling rig contracts with Pemex until
December 2017 at a day rate of USD365,000/day.

OIL PRICE PRESSURES

Offshore drillers continue to face depressed market conditions due
to lower demand and a significant oversupply of rigs.  The severe
decline in oil prices has compounded the effects of the offshore
rig oversupply cycle resulting in continued global market day-rate
deterioration.  Fitch believes that demand for drill rigs will
rebound in the medium-term and absorb the newer high-quality
assets.  Fitch also believes that an uptick in demand for rigs will
lag oil & gas price levels (estimated at $65 - $70/barrel for
deepwater) by at least six-12 months.

                 PARTIAL STRUCTURAL SUBORDINATION

ODH's senior secured notes are guaranteed by the unencumbered
restricted subsidiaries that own the Centenario and Bicentenario
drilling rigs.  The notes are currently structurally subordinated
to a project-finance bank loan of approximately USD320 million,
related to the financing of La Muralla IV.  This bank debt has
certain cash-sweep provisions restricting cash flow distributions
to ODH.  The bank loan amortizes through 2018 and once it is
repaid, La Muralla IV will become a co-guarantor for the notes.

                     MODERATELY HIGH LEVERAGE

Fitch expects consolidated leverage to range between 4.0x and 4.5x
over the short- to medium-term and while ODH's contracts with Pemex
remain in place.  During 2015, ODH's consolidated leverage was
4.5x.  As of Dec. 31, 2015, total debt was USD1.3 billion, down
slightly from USD1.4 billion at year-end 2014, and EBITDA for the
year was approximately USD287 million, down from
USD359 million in 2014.

                         KEY ASSUMPTIONS

Fitch's key assumptions within its rating cases for ODH include:

   -- Brent and West Texas Intermediate (WTI) oil prices average
      USD35/barrel in 2016 and trend toward a longer-term price of

      USD65/barrel;

   -- After expiration of the contracts for its drilling rigs, ODH

      may face difficulties re-contracting its assets;

   -- Regular maintenance capex of approximately $90 million
      during the next five years;

   -- No dividend payments forecasted.

                       RATING SENSITIVITIES

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

   -- Through-the-cycle consolidated debt/EBITDA of 5x or above on

      a sustained basis;

   -- Contracts are not rolled over within six months of
      expiration or contracted day rates experience further
      pressure and are significantly lower than current market day

      rates.

No positive rating actions are currently contemplated over the near
term given the weak offshore oilfield services outlook.

                            LIQUIDITY

ODH's liquidity position is supported by the company's stable and
predictable cash flow generation coupled with a lengthened debt
maturity profile.  ODH's liquidity position is further supported by
its cash on hand, which as of Dec. 31, 2015, was approximately
USD90 million.  The company also maintains a one-year interest
reserve account for the 2020 notes and La Muralla IV in an amount
equal to USD106.2 million.  This compares with the company's
short-term debt of USD105 million.

FULL LIST OF RATING ACTIONS

Fitch has downgraded ODH's ratings as:

   -- LT Foreign and local currency IDRs to 'B-' from 'B+';
      Negative Outlook;

   -- Senior secured notes to 'B-'/'RR4' from 'BB-'/'RR3'.


PENN PRODUCTS: S&P Revises Outlook to Neg. & Affirms 'BB-' ICR
--------------------------------------------------------------
S&P Global Ratings revised its outlook on Penn Products Terminals
LLC (PPT) to negative from stable.  The issuer credit rating on PPT
remains 'BB-' and the issue rating the secured notes remains 'BB'.

"The outlook revision stems from weaker margins and throughputs in
PPT's storage and transportation businesses, which have resulted in
leverage exceeding 5x for the 12 months ended Dec. 31, 2015, said
S&P Global Ratings credit analyst Michael Ferguson.  "While we
anticipate some improvement in the company's metrics as the issuer
pays down some debt, leverage could remain high throughout 2016,"
he added.

Unlike some of its peers in the storage sector, PPT's strategy
hinges more on its commanding position in the Pennsylvania market
than on long and durable contracts.  Its contracts often do not
exceed a year, whereas some peers have average contract lives
exceeding five years.  The recontracting risk is significant and
has been borne out during the past few months as crude and refined
product prices have declined.  This leaves PPT exposed in
backwardated commodity pricing environments; additionally, the
issuer is exposed to weather conditions, and this risk materialized
in the warmer than average winter of 2015-16.

The negative outlook reflects S&P's expectations that leverage will
stay elevated during the next 18 months as a consequence of weaker
storage and transportation rates in Pennsylvania.  S&P anticipates
debt to EBITDA of about 4.6x during the next year and EBITDA
interest coverage ratios of near 4x during the same period.

S&P could lower the rating if depressed storage rates or a
backwardated oil price curve lead to sustained weaker margins,
resulting in average debt to EBITDA exceeding 4.7x.  This could
stem from increased competition for market share in Pennsylvania,
or a worsened regional economy, as well as unfavorable commodity
conditions. In addition, incremental debt issuances could amplify
this effect, as could higher–than-expected capital spending on
new projects.

A revision to a stable outlook is currently unlikely, but could
stem from persistently higher storage rates, leading to debt to
EBITDA of 4x during S&P's forecast period.


PHILADELPHIA ENTERTAINMENT: Suit vs. Pa. Revenue Dept. Dismissed
----------------------------------------------------------------
Judge Magdeline D. Coleman of the United States Bankruptcy Court
for the Eastern District of Pennsylvania granted the defendants'
motion to dismiss the complaint in the adversary proceeding
captioned The adversary proceeding is PHILADELPHIA ENTERTAINMENT
AND DEVELOPMENT PARTNERS, L.P., Plaintiff, v. COMMONWEALTH OF
PENNSYLVANIA DEPARTMENT OF REVENUE, ET AL., Defendants, Adversary
No. 14-00255-MDC (Bankr. E.D. Pa.).

On May 29, 2014, Philadelphia Entertainment and Development
Partners, L.P. (the "Debtor") filed a seven-count complaint against
the Commonwealth of Pennsylvania, Department of Revenue and the
Commonwealth of Pennsylvania (together, the "Commonwealth Parties")
seeking, among other things, to recover for the benefit of the
Debtor's creditors (1) a fee in the amount of $50,000,000 (the
"License Fee") paid to the Pennsylvania Gaming Control Board (the
"Gaming Board") for a Category 2 slot machine license ("License"),
and (2) the value of the License which was revoked pre-petition by
the Gaming Board.

In response, the Commonwealth Parties filed on August 28, 2014, a
Motion to Dismiss, or In the Alternative Abstain (the "Motion")
contending that dismissal of the entirety of the Complaint is
warranted based on various grounds, including that (i) the
bankruptcy court lacks jurisdiction to adjudicate the Trustee's
claims as a result of sovereign immunity; (ii) the Trustee's claims
are barred by theRooker-Feldman Doctrine; and (iii) the Trustee
failed to state a basis for the relief sought.  As alternative
relief, the Commonwealth Parties requested that the bankruptcy
court abstain from adjudicating the Trustee's claims.  The
Commonwealth Parties contended that abstention is warranted by
either the principles of permissive abstention codified by 28
U.S.C. Section 1334(c)(1) or the BurfordAbstention Doctrine.

The Trustee opposed dismissal of the Complaint contending that (1)
the Commonwealth Parties are not immune from suit; (2)
theRooker-Feldman Doctrine is inapplicable; (3) issue and claim
preclusion do not bar the Trustee from seeking relief; (4)
permissive abstention is inappropriate as the recovery of the
License Fee is of central importance to the administration of the
Debtor's estate; (5) the Burford Abstention Doctrine is
inapplicable because the recovery of the License Fee does not
implicate Pennsylvania's regulation of gaming; and (6) each count
of the seven counts set forth by the Complaint state a plausible
claim for relief.

Judge Coleman granted the motion to dismiss and dismissed with
prejudice Counts I, II, III and IV of the adversary complaint.  The
judge also dismissed wihtout prejudice Counts V, VI, and VII.

The bankruptcy case is IN RE: PHILADELPHIA ENTERTAINMENT AND
DEVELOPMENT PARTNERS, L.P., Chapter 11, Debtor, Bankruptcy No.
14-12482-MDC (Bankr. E.D. Pa.).

A full-text copy of the Judge Coleman's April 8, 2016 opinion and
order are respectively available at http://is.gd/OaegrXand
http://is.gd/0qSeCofrom Leagle.com.

Philadelphia Entertainment and Development Partners, LP d/b/a
Foxwoods Casino Philadelphia is represented by:

          Jared D. Bayer, Esq.
          Stephen A. Cozen, Esq.
          Frederic Warren Jacoby, Esq.
          Jennifer M. McHugh, Esq.
          COZEN O'CONNOR
          One Liberty Place
          1650 Market Street, Suite 2800
          Philadelphia, PA 19103
          Tel: (215)665-2000
          Fax: (215)665-2013
          Email: jbayer@cozen.com
                 scozen@cozen.com
                 fjacoby@cozen.com
                 jmchugh@cozen.com

Commonwealth of Pennsylvania Department of Revenue is represented
by:

          Vincent J. Marriott, III, Esq.
          Jon Theodore Pearson, Esq.
          BALLARD SPAHR ANDREWS & INGERSOLL
          1735 Market Street, 51st Floor
          Philadelphia, PA 19103-7599
          Tel: (215)665-8500
          Fax: (215)864-8999
          Email: marriott@ballardspahr.com
                 pearson@ballradspahr.com

                    About Philadelphia Entertainment

Philadelphia Entertainment and Development Partners, L.P., filed a
Chapter 11 bankruptcy petition (Bankr. E.D. Pa. Case No. 14-12482)
on March 31, 2014.  Brian R. Ford signed the petition as
authorized signatory.  The Debtor estimated assets of at least $10
million and liabilities of at least $50 million.  DLA Piper LLP
(US) serves as the Debtor's counsel.  Judge Magdeline D. Coleman
oversees the case.

Philadelphia Entertainment and Development Partners, L.P.,
notified the Bankruptcy Court that the Effective Date of its First
Modified Chapter 11 Plan of Liquidation occurred on Aug. 18, 2014.
The bankruptcy judge, on July 28, confirmed the Plan dated as of
March 10, 2014; as modified on May 27.


PICO HOLDINGS: Activist Bloggers Criticize Hart Compensation
------------------------------------------------------------
By Geoffrey J. Bailey -- gjbaileypb@hotmail.com -- PICO Holdings,
Inc. (Nasdaq:PICO), based in La Jolla, Calif., is a diversified
holding company reporting recurring losses since 2008. PICO owns
57% of UCP, Inc. (NYSE:UCP), 100% of Vidler Water Company, Inc., a
securities portfolio and various interests in small businesses.
PICO has $664 million in assets and $434 million in shareholder
equity. Central Square Management LLC and River Road Asset
Management LLC collectively own more than 14% of PICO. Other
activists at http://ReformPICONow.com/have taken to the Internet
to advance the shareholder cause.

Activist bloggers issue a fourth scathing criticism of the
Compensation Plan recently awarded to PICO CEO John Hart; this time
they review the previous three posts and draw conclusions.

In Part I, the bloggers excoriated the Hart Employment Agreement,
which was promulgated by Compensation Committee members Carlos
Campbell, Michael Machado and Eric Speron. Under the auspices of
"Revision of Business Plan," the PICO Holdings Board "had
effectively stripped the hapless Mr. Hart of veritable CEO
authority; he has been managerially neutered. Mr. Hart is
effectively a human carrier pigeon that runs information between
asset sale professionals and the PICO Board. We noted that such a
role for a CEO who is a complete failure -- when measured by any
and all relevant metrics -- is appropriate. However, a $1 million
base salary, which equals $3,831 per workday, is an abuse of
shareholders."

Getting more colorful that previously, the bloggers state that "the
Employment Agreement makes Mr. Hart equivalent to genital warts --
impossible to get rid of comfortably. This Employment Agreement
will cost us over $1 per share (a significant amount for a $10
stock)."

In Part II, the bloggers critiqued "the Bonus Plan -- which inures
to the benefit of Mr. Hart and the equally corrupt and incompetent
Max Webb (PICO CFO) and John Perri (PICO Chief Accounting Officer).
We label these three gentlemen 'The Three Profiteers.'"

The bloggers are upset that under the Bonus Plan, "the Three
Profiteers will reach into PICO shareholder pockets for 20% of the
net asset sale gain returned to shareholders. Such an award
disregards that most PICO assets have been written down -- an
admission of capital allocation failure which results in
shareholder suffering. This scheme also ignores the Three
Profiteers’ failure par excellence: Northstar Hallock, which
Central Square estimates cost PICO shareholders $85 million, or
almost $4 per share."

The bloggers broke down the Bonus Plan treatment of PICO Net
Operating Loss Carryforwards in Part III, and disparaged how the
Bonus Plan applies PICO Net Operating Loss Carryforwards to asset
sales, and hence the Bonus Pool calculation.

"This provision is the most egregious abuse of shareholders in an
entirely abusive compensation scheme. Messrs. Campbell, Machado and
Speron transfer 20% of PICO assets, which are the product of
managerial incompetence and result in shareholder suffering, to The
Three Profiteers. Messrs. Campbell, Machado and Speron use vague
language in the SEC filing, imply that this asset transfer is an
"Administrative Expense," and fail to provide a clear explanation
of the true economics. We believe this amounts to deception of
shareholders."

The bloggers now take to mocking the PICO CEO, writing "Mr. Hart
has taken to saying the PICO Board has been "refreshed."  We laugh
at this dishonest euphemism and frankly, it is a term a juicer
would use. "Refresh" would lead investors to believe that the PICO
Directors were a batch of old beets and carrots, now changed out
for fresher stock (in the case of the Entrenched Directors (Hart,
Campbell, Machado, Slepicka) -- fruits and vegetables are apt
metaphors).

The PICO Board has not been "refreshed," despite what the
unscrupulous Mr. Hart would say. It has been turned over, due to
extreme shareholder dissatisfaction and agitation."

The bloggers conclude by noting that, despite enormous change at
PICO, its shares still sell for less that $10 in the market.


PIONEER ENERGY: Wells Fargo Resigns as Indenture Trustee
--------------------------------------------------------
Pioneer Energy Services Corp., Wells Fargo Bank, National
Association and Wilmington Trust, National Association entered into
an Agreement of Resignation, Appointment and Acceptance, with
respect to the Company's 6.125% Senior Notes due 2022.
Pursuant to the terms of the Agreement of Resignation, effective
May 4, 2016, Wells Fargo resigned as Trustee under the Indenture,
dated as of March 18, 2014, by and among the Company, Wells Fargo,
as Trustee and the subsidiary guarantors named therein, related to
the Company's 6.125% Senior Notes due 2022, and Wilmington Trust
will accept its appointment as successor Trustee under the
Indenture and assume the rights, powers, trusts and duties of Wells
Fargo as trustee thereunder.  Effective May 16, 2016, Wells Fargo
will resign as registrar, paying agent and custodian under the
Indenture, and Wilmington Trust will accept its appointment as
successor registrar, paying agent and custodian under the Indenture
and assume the rights, powers and duties of Wells Fargo as
registrar, paying agent and custodian under the Indenture

The address of the corporate trust office for Wilmington Trust is
15950 North Dallas Parkway, Suite 550, Dallas, Texas 75248.  A copy
of the Agreement of Resignation is available for free at:

                       http://is.gd/aPSc6q

                       About Pioneer Energy

Pioneer Energy Services Corp. provides land-based drilling services
and production services to a diverse group of independent and large
oil and gas exploration and production companies in the United
States and internationally in Colombia.  The Company also provides
two of its services (coiled tubing and wireline services) offshore
in the Gulf of Mexico.

Pioneer Energy reported a net loss of $155.14 million in 2015
following a net loss of $38.01 million in 2014.

As of March 31, 2016, Pioneer Energy had $786.52 million in total
assets, $471.41 million in total liabilities and $315.11 million in
total shareholders' equity.

                         *   *    *

As reported by the TCR on March 7, 2016, Moody's Investors Service,
on March 3, 2016, downgraded Pioneer Energy Services Corp.'s
Corporate Family Rating (CFR) to Caa3 from B2, Probability of
Default Rating (PDR) to Caa3-PD from B2-PD, and senior unsecured
notes to Ca from B3.

"The rating downgrades were driven by the material deterioration in
Pioneer Energy's credit metrics through 2015 and our expectation of
continued deterioration through 2016.  The demand outlook for
drilling and oilfield services is extremely weak, as witnessed by
the steep and continued drop in the US rig count" said Sreedhar
Kona, Moody's Vice President. "The negative outlook reflects the
deteriorating fundamentals of the services sector and the
likelihood of covenant breaches"

Pioneer Energy carries a "B+" corporate credit rating from Standard
& Poor's Ratings.


PIONEER HEALTH: Committee Hires Arnall Golden Gregory as Counsel
----------------------------------------------------------------
The Official Committee of Unsecured Creditors of Pioneer Health
Services, Inc., et al., seeks authorization from the U.S.
Bankruptcy Court for the Southern District of Mississippi to retain
Arnall Golden Gregory LLP as counsel for the Committee, nunc pro
tunc to March 18, 2016.

The Committee requires AGG to:

     a. advise the Committee with respect to its rights, powers,
and duties in these bankruptcy cases;

     b. assist and advise the Committee in its consultations with
the Debtors relative to the administration of these bankruptcy
cases;

     c. assist the Committee in analyzing the claims of the
Debtors' creditors and in negotiating with such creditors;

     d. assist the Committee's investigation the acts, conduct,
assets, liabilities, and financial condition of the Debtors and of
the operations of the Debtors' respective businesses;

     e. advise and represent the Committee in connection with
administrative matters arising in these bankruptcy cases, including
the obtaining of credit by the Debtors, the reorganization of the
Debtors, including potential sale of the Debtors' assets, and the
rejection or assumption of executory contracts and unexpired
leases;

     f. assist the Committee in its analysis of, and negotiations
with, the Debtors or any third party concerning matters related to,
among other things, the terms of a Chapter 11 plan or plans for the
Debtors;

     g. assist and advise the Committee with respect to its
communications with the general creditor body regarding significant
matters in these bankruptcy cases;

     h. review and analyze all applications, orders, statements of
operations, and schedules filed with the Court, and advise the
Committee as to their propriety;

     i. assist the Committee in evaluating and pursuing, if
necessary, claims and causes of action against the Debtors' secured
lenders;

     j. assist the Committee in preparing pleadings and
applications as may be necessary in furtherance of the Committee's
interests and objectives;

     k. represent the Committee at all hearings and other
proceedings; and

     l. perform other legal services as may be required and are
deemed to be in the interest of the Committee in accordance with
the Committee's powers and duties as set forth in the Bankruptcy
Code.

AGG will be paid at these hourly rates:

      Darryl S. Laddin            $590
      Sean C. Kulka               $525
      R. Michael Barry            $500
      Michael F. Holbein          $450
      Michael J. Bargar           $365
      Maureen M. Weaver           $245

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

Darryl S. Laddin, partner of Arnall Golden Gregory LLP, assured the
Court that AGG will not represent any  other entity having an
adverse interest in connection with these bankruptcy cases,
consistent with section 1103(b) of the Bankruptcy Code.

AGG can be reached at:

     Darryl S. Laddin, Esq.
     ARNALL GOLDEN GREGORY LLP
     171 17th Street, N.W., Suite 2100
     Atlanta, GA 30363-1031
     Tel: (404)873-8500
     Fax: (404)873-8501
     E-mail: darryl.laddin@agg.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: Creditors' Panel Hires Brunini as Co-Counsel
------------------------------------------------------------
The Official Committee of Unsecured Creditors of Pioneer Health
Services, Inc., et al., seeks authorization from the U.S.
Bankruptcy Court for the Southern District of Mississippi to retain
Brunini, Grantham, Grower & Hewes, PLLC, as co-counsel for the
Committee.

The Committee requires Brunini to:

     a. advise the Committee with respect to its rights, powers,
and duties in these bankruptcy cases;

     b. assist and advice the Committee in its consultations with
the Debtors relative to the administration of these bankruptcy
cases;

     c. assist the Committee in analyzing the claims of the
Debtors' creditors and in negotiating with such creditors;

     d. assist the Committee's investigation of the acts, conduct,
assets, liabilities, and financial condition of the Debtors and of
the operations of the Debtors' respective businesses;

     e. advise and represent the Committee in connection with
administrative matters arising in these bankruptcy cases, including
the obtaining of credit by the Debtors, the reorganization of the
Debtors, including the potential sale of the Debtors' assets and
the rejection or assumption of executory contracts and unexpired
leases;

     f. assist the Committee in its analysis of, and negotiations
with, the Debtors or any third party concerning matters related to,
among other things, the terms of a Chapter 11 plan or plans for the
Debtors;

     g. assist and advise the Committee with respect to its
communications with the general creditor body regarding significant
matters in these bankruptcy cases.

     h. review and analyze all applications, orders, statements of
operations, and schedules filed with the Court, and advise the
Committee as to their propriety;

     i. assist the Committee in evaluating, and pursuing, if
necessary, claims and causes of action against the Debtors' secured
lenders;

     j. assist the Committee in preparing pleadings and
applications as may be necessary in furtherance of the Committee's
interest and objectives;

     k. represent the Committee at all hearings and other
proceedings; and

     l. perform other legal services as may be required and are
deemed to be in the interests of the Committee in accordance with
the Committee's powers and duties as set forth in the Bankruptcy
Code.

Brunini will be paid at these hourly rates:

       James A. McCullough        Partner            $325
       William D. Drinkwater      Associate          $225
       Debra Garmon               Paralegal          $125

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

James A. McCullough, partner in the Law Firm of Brunini, Grantham,
Grower & Hewes, PLLC, assured the Court that the Firm will not
represent any other entity having an adverse interest in connection
with these bankruptcy cases, consistent with section 1103(b) of the
Bankruptcy Code.

Brunini can be reached at:

      James A. McCullough, Esq.
      BRUNINI, GRANTHAM, GROWER & HEWES, PLLC
      P.O. Drawer 119
      Jackson, MS 39205
      Telephone: (601)948-3101
      Facsimile: (601)960-6902
      E-mail: jmccullough@brunini.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.



PUERTO RICO: Lew, Lawmakers Intensity Bill Push After Default
-------------------------------------------------------------
Laura Litvan and Saleha Mohsin, writing for Bloomberg News,
reported that lawmakers have missed one deadline to prevent Puerto
Rico from defaulting on its debt, and they're trying to figure out
how to build support for legislation that could prevent a second
missed payment.

According to the report, Republicans are seeking to produce a
revised bill, while U.S. Treasury Secretary Jacob J. Lew and the
top Democrat on the House Natural Resources Committee are
separately visiting the commonwealth Monday to keep up the pressure
for Congress to act.

"There's an urgency because the situation is one that will just get
worse and worse if it doesn’t get resolved," Lew told reporters
in San Juan on May 9.

The report said all sides are under pressure after a week-long
congressional recess, punctuated by Puerto Rico's default on most
of a $422 million debt payment.  Puerto Rico is in an economic
recession that's poised to worsen as residents continue to leave,
threatening to deepen the fiscal crisis that's pushing the island
to default on a growing share of its $70 billion of debt, the
report related.

House Natural Resources Chairman Rob Bishop of Utah plans to revise
Republican-drafted legislation that would create a federal
oversight board to help manage the island and supervise a debt
restructuring, the report further related.  It will be similar to
an earlier version, H.R. 4900, that ran into snags, according to a
committee aide who asked for anonymity to discuss the matter, who
said that the measure could be advanced by the panel, the the
report added.


PURADYN FILTER: Ships $300K Worth of Filter Systems to Middle East
------------------------------------------------------------------
Puradyn Filter Technologies Incorporated announced that it has
recently shipped orders to the Middle East totaling approximately
$300,000 of puraDYN bypass oil filtration systems to a global oil
and gas industry contractor based in the European Union.  This is
an additional order placed by this customer as part of ongoing
worldwide implementation of the puraDYN System.  The decision to
incorporate Puradyn followed a rigorous qualification process that
included extensive testing over the past two years on drill rig
engines used in land-based drilling platforms in Kazakhstan, Italy,
South America, and Saudi Arabia.

Puradyn's patented engine oil filtration systems extended oil drain
intervals from 500 hours to over 2,000 hours during testing,
enabling the high-value engines to operate on continuously clean
oil.  Puradyn systems remove solid contaminants from engine oil,
down to less than one micron while also replacing base additives to
maintain oil performance.  The contractor selected Puradyn's latest
filtration offering, the Millennium Technology System (MTS) with
its patented Polydry technology for liquid contaminant and water
removal from engine oil.

Puradyn Chairman and CEO, Joseph V. Vittoria, said, "Once again, in
rigorous testing, puraDYN systems demonstrated superior performance
and reliability in harsh environments ranging from arctic cold to
extreme heat, in high altitudes as well as desert conditions.  We
are pleased to further expand our base of global customers and
proud to be associated with such a forward-thinking company
committed to seeking out technology to improve operating
efficiency, reduce operating costs, and provide a positive impact
in our environment.  While the initial interest came out of stated
sustainability practices and commitment to minimize waste streams,
the contractor's executives were impressed with the cost savings
and protective benefits of our new MTS and Polydry solutions for
their high-value engine assets.

"Cost reduction in new oil purchases alone is significant, but the
logistics cost savings in getting the oil to and from the rigs also
exercises a considerable impact.  Furthermore, by removing
contaminant and maintaining continuously clean oil, end users are
able to eliminate the mid-cycle, top-end overhaul."

Vittoria concluded, "Though our business relationship with this
contractor has just begun, we look forward to establishing a long
and productive relationship, expanding our global penetration."

                      About Puradyn Filter

Boynton Beach, Fla.-based Puradyn Filter Technologies Incorporated
(OTC BB: PFTI) designs, manufactures and markets the puraDYN's Oil
Filtration System.

Puradyn reported a net loss of $1.44 million on $1.97 million of
net sales for the year ended Dec. 31, 2015, compared to a net loss
of $1.15 million on $3.11 million of net sales for the year ended
Dec. 31, 2014.

As of Dec. 31, 2015, Puradyn had $1.42 million in total assets,
$13.94 million in total liabilities and a total stockholders'
deficit of $12.51 million.

Liggett & Webb, P.A., in Boynton Beach, Florida, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Dec. 31, 2015, citing that the Company has
experienced net losses since inception and negative cash flows from
operations and has relied on loans from related parties to fund its
operations.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


QUANTUM FUEL: Panel Taps Armory Consulting as Financial Advisor
---------------------------------------------------------------
The Official Committee of Unsecured Creditors of Quantum Fuel
Systems Technologies Worldwide, Inc. seeks authorization from the
Hon. Mark S. Wallace of the U.S. Bankruptcy Court for the Central
District of California to retain Armory Consulting Company as
financial advisor to the Committee, nunc pro tunc to April 21,
2016.

The Committee requires Armory Consulting to:

   (a) monitor Debtor's financial and operating performance
       including current operations, monthly operating reports,
       and other financial and operating analyses or periodic      

       reports provided by the Debtor;

   (b) perform due diligence with respect to the assets and
       liabilities, business, financial conditions and
       opportunities for the Debtor to enhance its value;

   (c) assess cash and liquidity requirements of the Debtor;

   (d) evaluate the possible rejection of any executory contracts
       and unexpired leases;

   (e) analyze the potential values of the Debtors' assets and
       businesses, the secured and unsecured claims, and the    
       potential recoveries to the unsecured creditors;

   (f) assist in the negotiations, evaluation, and formulation of
       an asset sale, any proposed Plan of Reorganization, or
       restructuring-related alternatives;

   (g) assist the Committee in determining the best strategy for
       maximizing values for creditors;

   (h) to the extent necessary, provide testimony before the
       Bankruptcy Court on matters within the firm's expertise;
       and

   (i) provide such other services to the Committee as may be
       necessary in the case.

Armory Consulting will be paid at these hourly rates:

       James Wong                 $346.50
       Senior Consultant          $247.50

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

James Wong, principal of Armory Consulting, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Armory Consulting can be reached at:

       James Wong
       ARMORY CONSULTING CO.
       3943 Irvine Blvd., Suite 253
       Irvine, CA 92602
       Tel: (714) 222-5552

                   About Quantum Fuel Systems

Lake Forest, California-based Quantum Fuel Systems Technologies
Worldwide, Inc., is an innovator, developer and producer of
compressed natural gas (CNG) fuel storage tanks and packaged fuel
storage systems for heavy-, medium-, and light-duty trucks and
passenger vehicles.  The Company also produces integrated vehicle
system technologies, including engine and vehicle control systems
and drivetrains.  It supplies its tanks and systems to truck and
automotive original equipment manufacturers and aftermarket and
OEM truck integrators worldwide.

Quantum Fuel filed a Chapter 11 bankruptcy petition (Bankr. C.D.
Calif. Case No. 16-11202) on March 22, 2016.  The petition was
signed by Brian W. Olson as chief executive officer.  The Debtor
listed total assets of $23.10 million and total debts of $21.7
million.  Foley & Lardner LLP represents the Debtor as counsel.
Judge Mark S Wallace is assigned to the case.


RAILYARD COMPANY: Ch.11 Trustee Hires Hunt & Davis as Counsel
-------------------------------------------------------------
Chris W. Pierce, the proposed Chapter 11 Trustee of Railyard
Company, LLC, seeks authorization from the U.S. Bankruptcy Court
for the District of New Mexico to employ Hunt & Davis, P.C. as
counsel to the Trustee.

The professional services Hunt & Davis will render consist of
representation as the Trustee's general counsel in all aspects of
this bankruptcy case, including without limitation claims
objections, adversary proceedings, liquidation of assets, and all
hearing before the Court; preparation of any necessary letters,
objections, answers, motions, applications, orders, reports, and
other legal papers, and any other legal services related to the
above-referenced matter which the Trustee deems appropriate and
which Hunt & Davis agrees to perform.

Hunt & Davis will be paid at these hourly rates:

       Chris W. Pierce          $250
       Julie J. Vargas          $250
       Catherine F. Davis       $275
       Paralegals                $60

Hunt & Davis will also be reimbursed for reasonable out-of-pocket
expenses incurred.

Mr. Pierce assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

Hunt & Davis can be reached at:

       Chris W. Pierce, Esq.
       HUNT & DAVIS, P.C.
       2632 Mesilla St. NE
       Albuquerque, NM 87110
       Tel: (505) 881-3191
       E-mail: chris@huntdavislaw.com

                       About Railyard Company

Railyard Company, LLC, owns and developed two-story Market Station
that houses the REI sporting goods store and other tenants.  It
filed a Chapter 11 petition (Bankr. D. N.M. Case No. 15-12386) on
Sept. 4, 2015.  The petition was signed by Richard Jaramillo as
managing member.  The Debtor is represented by William F. Davis,
Esq., at William F. Davis & Associates, P.C., as counsel.

The Debtor's Chapter 11 petition says the Company has about $11.2
million in debts and $13.8 million in assets.


RAILYARD COMPANY: Ch.11 Trustee Hires Johnson as Accountant
-----------------------------------------------------------
Chris W. Pierce, the proposed Chapter 11 Trustee of Railyard
Company, LLC, seeks authorization from the U.S. Bankruptcy Court
for the District of New Mexico to employ Steven W. Johnson, CPA,
LLC as accountant for the Trustee.

The Trustee requires the accountant to provide professional
services to Trustee and assist the Trustee in preparing and filing
tax returns.

The accountant will provide services at his hourly rate of $200 per
hour for CPA time, and bookkeeper services will be provided at the
rate of $85 per hour, plus New Mexico Gross Receipts Tax.

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

Steven W. Johnson assured the Court that the firm is a
"disinterested person" as the term is defined in Section 101(14) of
the Bankruptcy Code and does not represent any interest adverse to
the Debtors and their estates.

The accountant can be reached at:

       Steven W. Johnson
       Steven W. Johnson, CPA, LLC
       119 E. Marcy St., Suite 203
       Santa Fe, NM 87501
       Tel: (505) 988-2527
       Fax: (505) 988-2542
       E-mail: steve@stevejohnsoncpa.com

                      About Railyard Company

Railyard Company, LLC, owns and developed two-story Market Station
that houses the REI sporting goods store and other tenants.  It
filed a Chapter 11 petition (Bankr. D. N.M. Case No. 15-12386) on
Sept. 4, 2015.  The petition was signed by Richard Jaramillo as
managing member.  The Debtor is represented by William F. Davis,
Esq., at William F. Davis & Associates, P.C., as counsel.

The Debtor's Chapter 11 petition says the Company has about $11.2
million in debts and $13.8 million in assets.


REDONDO CONSTRUCTION: Court Sets Aside August 23 Status Conference
------------------------------------------------------------------
Judge Enrique S. Lamoutte of the United States Bankruptcy Court for
the District of Puerto Rico granted the Puerto Rico Highway and
Transportation Authority's (PRHTA) Opposition to the Redondo
Construction Corporation's (RCC) Urgent Motion for Calculation of
Interest Due [RCC] and for Setting Aside Status Conference.  The
judge also granted RCC's Motion Conceding [PRHTA's] Computation of
Post-Judgment Interest Due [RCC].

The bankruptcy court had scheduled a Status Conference for August
23, 2016 to resolve issues concerning the computation of
prejudgment and postjudgment interests in favor of RCC.

RCC's urgent motion highlighted the following: that PRHTA deposited
the funds corresponding to the totality of the original judgment by
the bankruptcy court (issued on August 31, 2009);  that those funds
were deposited in the district court in the case that served as the
very first appeal in 2010, Civil No. 10-1371 (FAB);  that RCC
sought to execute such original judgment, but the district court
stayed it in light of PRHTA's judicial deposit;  and, that in light
of the latest remand by the First Circuit Court of Appeals in Case
No. 15-1397, "what is pending before this Court is a mathematical
exercise of the interest due RCC."  To that end, RCC argued, the
August 23, 2016 Status Conference set by the bankruptcy court was
not necessary, and requested the disbursement of a total of
$9,982,695.52 "plus interest earned on those funds, to be
calculated by the Clerk."  The total, posited RCC, consisted of
$9,839,413.79 in prejudgment interests, and $143,281.73 in
postjudgment interests.

In its Opposition, PRHTA stipulated the amount RCC posited as the
prejudgment interests due ($9,839,413.79).  However, as to
postjudgment interests, PRHTA computed that the amount due was
$84,153.64.

On April 15, 2016, RCC filed the Motion Conceding [PRHTA's]
Computation of Post-Judgment Interest Due [RCC].  As the title
indicates, RCC "conced[ed] the computation of post-judgments
interests" in PRHTA's Opposition.

The bankruptcy case is IN RE: REDONDO CONSTRUCTION CORPORATION,
Chapter 11, Debtor, Case No. 02-02887 (ESL)  (Bankr. D.P.R.).

The adversary proceeding is Adv. Proc. No. 03-00192 (ESL).,
03-00194 (ESL), 03-00195 (ESL),  REDONDO CONSTRUCTION CORPORATION,
Plaintiff, v. PUERTO RICO HIGHWAY AND TRANSPORTATION AUTHORITY
Defendant (Bankr. D.P.R.).

A full-text copy of Judge Lamoutte's April 21, 2016 opinion and
order is available at http://is.gd/mkQON9from Leagle.com.

REDONDO CONSTRUCTION CORPORATION is represented by:

          Charles Alfred Cuprill, Esq.
          CHARLES A CURPILL, PSC LAW OFFICE
          366 Calle Fortaleza Floor 2
          San Juan, PR 00901

            -- and --

          Freddie Perez Gonzalez, Esq.
          Patricia I. Varela, Esq.
          MARTINEZ & TORRES LAW OFFICES PSC
          Urb. Antonsanti
          1510 Calle Bori
          San Juan, PR 00927
          Tel: (787)767-8244
          Fax: (787)767-1183

AUTORIDAD DE CARRETERAS DE PUERTO RICO is represented by:

          Hector Benitez Arraiza, Esq.
          QUINONES & ARBONA, P.S.C.
          Doral Bank Plaza, Suite 701-A
          Calle Resolucion #33
          San Juan, PR 00922
          Tel: (787)620-6776
          Fax: (787)620-6777

            -- and --

          Kermell Z Hernandez Rivera, Esq.
          Vanessa Saxton Arroyo, Esq.
          Maria Eugenia Villares-Seneriz, Esq.
          TOLEDO & TOLEDO LAW OFFICES, PSC
          Executive Building
          623 Ponce De Leon Avenue
          Suite 1101-A
          San Juan, PR 00917-4811
          Tel: (787)751-0520
          Fax: (787)763-5961

PUERTO RICO HIGHWAYS AND TRANSPORTATION is represented by:

          Luis A. Rivera Cabrera, Esq.
          Raul Serrano Diaz, Esq.
          LUIS A RIVERA CABRERA LAW OFFICES
          PO Box 9023829
          San Juan, PR 00902-3826
          Tel: (787)725-0614
          Fax: (787)725-0654


RGL RESERVOIR: S&P Lowers Corporate Credit Rating to 'SD'
---------------------------------------------------------
S&P Global Ratings said it lowered its long-term corporate credit
rating on Calgary, Alta.-based RGL Reservoir Management Inc. (RGL)
to 'SD' (selective default) from 'CCC+'.  At the same time, S&P
Global Ratings lowered its issue-level ratings on the company's
first-lien senior secured debt to 'D' from 'CCC' and second-lien
senior secured debt to 'D' from 'CCC-'.  The '5' recovery rating on
the first-lien secured debt is unchanged.

"The downgrade follows RGL's amendments to its senior secured debt
facilities that materially changed the amount outstanding and the
terms of the facility," said S&P Global Ratings credit analyst
Michelle Dathorne.  As part of the amendments, the first-lien
revolver (US$75 million) repayment term was extended (from 2019 to
2021), amortization payments were added, and interest rates
increased, with the exception of US$5.6 million of the revolver
that remained outstanding at the original terms; the total revolver
size was reduced to US$45 million.  As well, the C$140 million
second-lien debt (and accrued interest) was exchanged for C$55
million first-lien debt in addition to common shares and warrants
of the company.  S&P views the transaction as a distressed exchange
because debtholders received less than what was promised on the
original debt terms.

S&P expects to review the corporate credit, recovery, and
issue-level ratings in the near term.  S&P's analysis will
incorporate the company's new capital structure and liquidity
position, while still taking into account its challenging operating
environment.


S-3 PUMP SERVICE: Hires Robert King as Business Valuation Expert
----------------------------------------------------------------
S-3 Pump Service, Inc. seeks authorization from the Hon. Jeffrey P.
Norman of the U.S. Bankruptcy Court for the Western District of
Louisiana to employ Robert E. King, III as business valuation
expert, nunc pro tunc to the March 4, 2016 petition date.

The Debtor desires to retain the services of Mr. King to perform
business valuation consulting services for the Debtor in connection
with the formulation of the Debtor's plan of reorganization.

Mr. King has agreed to perform his consulting services for the
Debtor, as well as any services relating to court appearances, for
the compensation of $250 per hour, for staff assistance at the rate
of $100 per hour and actual expenses.

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

Mr. King assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

The Bankruptcy Court will hold a hearing on the application on May
17, 2016, at 10:00 a.m.

                       About S-3 Pump Service

S-3 Pump Service, Inc., provider of high pressure pumping service,
filed a Chapter 11 bankruptcy petition (Bankr. W.D. La. Case No.
16-10383) on March 4, 2016.  The petition was signed by Malcolm H.
Sneed, III, the president.  The Debtor estimated assets and debt in
the range of $10 million to $50 million.  Blanchard, Walker, O'Quin
& Roberts serves as the Debtor's counsel.  Judge Jeffrey P. Norman
is assigned to the case.


S-3 PUMP SERVICE: Hires Superior Asset as Appraiser
---------------------------------------------------
S-3 Pump Service, Inc. seeks authorization from the Hon. Jeffrey P.
Norman of the U.S. Bankruptcy Court for the Western District of
Louisiana to employ Daniel J. Kruse and Superior Asset Appraisals
to perform the appraisal of the Debtor's fleet of vehicles and pump
equipment.

The Appraiser has agreed to perform an appraisal of the Debtor's
vehicles, exclusive of pickup trucks and other passenger vehicles,
and equipment for a total cost of $4,500.

Mr. Kruse assured the Court that the firm is a "disinterested
person" as the term is defined in Section 101(14) of the Bankruptcy
Code and does not represent any interest adverse to the Debtors and
their estates.

The Bankruptcy Court will hold a hearing on the application on May
17, 2016, at 10:00 a.m.

Superior Asset can be reached at:

       Mr. Daniel J. Kruse
       SUPERIOR ASSET APPRAISALS
       11202 Disco
       San Antonio, TX 78216
       Tel: (210) 499-0777
       Fax: (210) 499-4217
       E-mail: dan@kruseasset.com

                        About S-3 Pump Service

S-3 Pump Service, Inc., provider of high pressure pumping service,
filed a Chapter 11 bankruptcy petition (Bankr. W.D. La. Case No.
16-10383) on March 4, 2016.  The petition was signed by Malcolm H.
Sneed, III, the president.  The Debtor estimated assets and debt in
the range of $10 million to $50 million.  Blanchard, Walker, O'Quin
& Roberts serves as the Debtor's counsel.  Judge Jeffrey P. Norman
is assigned to the case.


SABINE OIL: Seeks Judge's Blessing for New Pipeline Contract
------------------------------------------------------------
Tom Corrigan, writing for Dow Jones' Daily Bankruptcy Review,
reported that days after winning final court endorsement of its bid
to tear up its costly pipeline contracts, Texas's Sabine Oil & Gas
Corp. is ready to ink a new deal with another natural gas
transporter.

According to the report, in papers filed with the U.S. Bankruptcy
Court in Manhattan, Sabine asked Judge Shelley Chapman for
permission to enter into a new pipeline deal with DCP South Central
Texas LLC, which would replace prior agreements with an affiliate
of Cheniere Energy Inc.

                    About Sabine Oil & Gas

Sabine Oil & Gas Corp. is an independent energy company engaged in
the acquisition, production, exploration, and development of
onshore oil and natural gas properties in the U.S.  The Company's
current operations are principally located in the Cotton Valley
Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in
South Texas, the Granite Wash in the Texas Panhandle, and the
North Louisiana Haynesville.  The Company operates, or has joint
working interests in, approximately 2,100 oil and gas production
sites (approximately 1,800 operating and approximately 315
non-operating) and has approximately 165 full-time employees.

Sabine Oil and its affiliated entities sought Chapter 11
protection(Bankr. S.D.N.Y. Lead Case No. 15-11835) in Manhattan on
July 15, 2015.

The Debtors have engaged Kirkland & Ellis LLP and Kirkland & Ellis
International LLP, as counsel; Lazard Freres & Co. LLC, as
investment banker and Prime Clerk LLC as notice, claims and
balloting agent.  The Debtors also tapped Zolfo Cooper Management,
LLC, to provide Jonathan A. Mitchell as CRO and other additional
personnel.

The U.S. Trustee for Region 2 appointed five creditors to serve on
the official committee of unsecured creditors.  The Committee is
represented by Mark R. Somerstein, Esq., Keith H. Wofford, Esq.,
and D. Ross Martin, Esq., at Ropes & Gray LLP as their counsel.
The Committee is also hiring Blackstone Advisory Partners L.P. as
investment banker; and Berkeley Research Group, LLC as financial
advisor.


SDI SOLUTIONS: Creditors' Panel Hires Arent Fox as Co-counsel
-------------------------------------------------------------
The Official Committee of Unsecured Creditors of SDI Solutions LLC
and its debtor-affiliates seeks authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain Arent Fox
LLP as co-counsel to Committee, nunc pro tunc to March 24, 2016.

The Committee requires Arent Fox to:

   (a) advise the Committee of its rights, duties, and powers in
       these Chapter 11 Cases;

   (b) assist, advise, and represent the Committee in its
       consultation with the Debtors relative to the
       administration of these Chapter 11 Cases;

   (c) assist, advise, and represent the Committee in I
       investigating and  analyzing the Debtors' assets and
       liabilities, investigating the extent and  validity of
       liens and participating in and reviewing any proposed asset
       sales or dispositions;

   (d) attend meetings and negotiate with the representatives of
       the Debtors and secured creditors and other parties in
       interest;

   (e) assist and advise the Committee in its examination,
       investigation, and analysis of the conduct of the Debtors'
       affairs;

   (f) assist the Committee in the review, analysis, and
       negotiation of any plan of reorganization or liquidation
       that may be filed and to assist the Committee in the
       review, analysis, and negotiation of the disclosure
       statement accompanying any plan of reorganization or
       liquidation;

   (g) assist the Committee in the review, analysis, and
       negotiation of any financing or funding agreements;

   (h) take all necessary actions to protect and preserve the
       interests of unsecured creditors, including, without
       limitation, the prosecution of actions on behalf of the
       Committee, negotiations concerning all litigation in which
       the Debtors are involved, and review and analysis of all
       claims filed against the Debtors' estates;

   (i) generally prepare on behalf of the Committee all necessary
       motions, applications, answers, orders, reports, and papers

       in support of positions taken by the Committee;

   (j) appear, as appropriate, before this Court, the Appellate
       Courts, and other courts in which matters may be heard and
       to protect the interests of the Committee before said
       Courts and the United States Trustee;

   (k) perform such other legal services as may be required or
       deemed to be in the interests of the Committee; and

   (l) perform all other necessary legal services in these Chapter
       11 Cases.

Arent Fox will be paid at these hourly rates:

       Partners                $590-$965
       Of Counsel              $470-$940
       Associates              $330-$615
       Paraprofessionals       $180-$335

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

Jeffrey N. Rothleder, partner of Arent Fox, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Arent Fox can be reached at:

       Jeffrey N. Rothleder, Esq.
       ARENT FOX LLP
       1717 K Street, NW
       Washington, DC 20006
       Tel: (202) 828-3472
       E-mail: jeffrey.rothleder@arentfox.com

                     About SDI Solutions

SDI Solutions LLC and SDI Opco Holdings, LLC sought protection
under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Delaware (Delaware) (Bankr. D. Del.,
Case Nos. 16-10627 and 16-10628) on March 13, 2016.  The petition
was signed by David Sullivan, chief executive officer.

The cases are jointly administered under Case No. 16-10627.

The Debtors are represented by Stuart M. Brown, Esq., Kaitlin
MacKenzie Edelman, Esq., and Thomas R. Califano, Esq., at DLA
Piper LLP (US). The Debtors tapped Gulf Atlantic Capital Corp. as
their financial advisor and Donlin, Recano & Company Inc. as their
claims and noticing agent.

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


SDI SOLUTIONS: Creditors' Panel Taps Womble Carlyle as Co-counsel
-----------------------------------------------------------------
The Official Committee of Unsecured Creditors of SDI Solutions LLC
and its debtor-affiliates seeks authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain Womble
Carlyle Sandridge & Rice, LLP as co-counsel for the Committee, nunc
pro tunc to March 24, 2016.

The Committee requires Womble Carlyle to:

   (a) advise as necessary with respect to the Committee's powers

       and duties as an official committee appointed under
       Bankruptcy Code section 1102;

   (b) assist the Committee in investigating the acts, conduct,
       assets, liabilities, liens, and financial condition of the
       Debtors, the operation of the Debtors' businesses,
       potential claims, and any other matters relevant to the
       case, to the sale of assets, or to the formulation of a
       plan of reorganization or liquidation (a “Plan”);

   (c) assist and advise the Committee with respect to its
       communications with unsecured creditors regarding the
       Chapter 11 Cases;

   (d) participate in the formulation of a Plan;

   (e) provide legal advice as necessary with respect to any
       disclosure statement and Plan filed in this case and with
       respect to the process for approving or disapproving
       disclosure statements and confirming or denying
       confirmation of a Plan;

   (f) prepare on behalf of the Committee, as necessary,
       applications, motions, objections, complaints, answers,
       orders, agreements, and other legal papers;

   (g) appear in Court to present necessary motions, applications,
       objections, and pleadings, and otherwise protecting the
       interests of those represented by the Committee;

   (h) assist the Committee in requesting the appointment of a
       trustee or examiner, should such action be necessary; and

   (i) perform such other legal services as may be required and as
       are in the best interests of the Committee and creditors.

Womble Carlyle will be paid at these hourly rates:

       Partners                $300-$755
       Of Counsel              $225-$730
       Senior Counsel          $125-$475
       Counsel                 $100-$515
       Associates              $220-$470
       Paralegals              $50-$385

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

Matthew P. Ward, attorney at Womble Carlyle, assured the Court that
the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

Womble Carlyle can be reached at:

       Matthew P. Ward, Esq.
       Ericka F. Johnson, Esq.
       WOMBLE CARLYLE SANDRIDGE & RICE, LLP
       222 Delaware Avenue, Suite 1501
       Wilmington, DE 19801
       Tel: (302) 252-4320
       E-mail: maward@wcsr.com
               erjohnson@wcsr.com

                        About SDI Solutions

SDI Solutions LLC and SDI Opco Holdings, LLC sought protection
under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Delaware (Delaware) (Bankr. D. Del.,
Case Nos. 16-10627 and 16-10628) on March 13, 2016.  The petition
was signed by David Sullivan, chief executive officer.

The cases are jointly administered under Case No. 16-10627.

The Debtors are represented by Stuart M. Brown, Esq., Kaitlin
MacKenzie Edelman, Esq., and Thomas R. Califano, Esq., at DLA
Piper LLP (US). The Debtors tapped Gulf Atlantic Capital Corp. as
their financial advisor and Donlin, Recano & Company Inc. as their
claims and noticing agent.

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


SDI SOLUTIONS: Panel Hires EisnerAmper as Financial Advisor
-----------------------------------------------------------
The Official Committee of Unsecured Creditors of SDI Solutions LLC
and its debtor-affiliates seeks authorization from the U.S.
Bankruptcy Court for the District of Delaware to retain EisnerAmper
LLP as financial advisor to the Committee, nunc pro tunc to March
24, 2016.

EisnerAmper will render professional services to the Committee,
including, without limitation:

   (a) analyzing the financial operations of the Debtors pre- and
       post-petition as necessary;

   (b) assisting the Committee in its analysis and review of
       monthly statements of operations to be submitted by the
       Debtors;

   (c) analyzing the Debtors' budgets, cash flow projections, cash
       disbursements, restructuring programs, selling and general
       administrative expense structure and other reports or
       analyses prepared by the Debtors or its professionals in
       order to advise the Committee on the status of the
       Debtors' operations;

   (d) performing forensic investigating services as requested by
       the Committee and counsel regarding pre-petition activities

       of the Debtors in order to identify potential causes of
       action as necessary;

   (e) verifying the physical inventory of supplies, equipment and

       other material assets and liabilities, as necessary;

   (f) analyzing transactions with insiders, related and/or
       affiliated companies;

   (g) performing claims analysis for the Committee, as necessary;

   (h) preparing and submitting reports to the Committee as
       necessary;

   (i) assisting the Committee in its review of the financial
       aspects of a plan of reorganization or liquidation, if any,

       to be submitted by the Debtors;

   (j) attending meetings of Creditors and conferences with
       representatives of the creditor groups and their counsel;

   (k) preparing hypothetical orderly liquidation analyses, as
       necessary;

   (l) monitoring, participating in and consulting with the
       Committee in regard to the marketing, and sale of any of
       the Debtors' assets as necessary;

   (m) analyzing the financial ramifications of any proposed
       transactions for which the Debtors seeks Bankruptcy Court
       approval including, but not limited to, post-petition
       financing, sale of all or a portion of the Debtors'
       assets, management compensation and/or retention and
       severance plans;

   (n) providing assistance, including expert testimony, and
       analysis in support of potential litigation that may be
       investigated and/or prosecuted by the Committee as
       necessary; and

   (o) any other services in which the Committee requests its
       Financial Advisor to perform.

EisnerAmper will be paid at these hourly rates:

     Wayne P. Weitz (Managing Director)    $600
     Georgiana Nertea (Senior Manager)     $395
     Adeola Akinrinade (Senior Manager)    $395
     Various Associates as needed          $160-$390
     Paraprofessional as needed            $125-$175
     Directors/Partners                    $425-$625
     Managers/Senior Managers              $280-$420
     Associate/Seniors                     $160-$390
     Paraprofessionals                     $130-$175

EisnerAmper has agreed to a maximum blended hourly rate of $400.

EisnerAmper has agreed to bill not more than $50,000 in fees for
any monthly billing period, and to prorate the Monthly Cap for
billing periods of more or less than one month.

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

Wayne P. Weitz, managing director of EisnerAmper, assured the Court
that the firm is a "disinterested person" as the term is defined in
Section 101(14) of the Bankruptcy Code and does not represent any
interest adverse to the Debtors and their estates.

EisnerAmper can be reached at:

       Wayne P. Weitz
       EISNERAMPER LLP
       750 Third Avenue
       New York, NY 10017
       Tel: (212) 891-6057

                       About SDI Solutions

SDI Solutions LLC and SDI Opco Holdings, LLC sought protection
under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy
Court for the District of Delaware (Delaware) (Bankr. D. Del.,
Case Nos. 16-10627 and 16-10628) on March 13, 2016.  The petition
was signed by David Sullivan, chief executive officer.

The cases are jointly administered under Case No. 16-10627.

The Debtors are represented by Stuart M. Brown, Esq., Kaitlin

MacKenzie Edelman, Esq., and Thomas R. Califano, Esq., at DLA
Piper LLP (US). The Debtors tapped Gulf Atlantic Capital Corp. as
their financial advisor and Donlin, Recano & Company Inc. as their
claims and noticing agent.

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


SEMLER SCIENTIFIC: Reports $1 Million Net Loss for First Quarter
----------------------------------------------------------------
Semler Scientific, Inc. filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing a net loss
of $1 million on $1.50 million of revenue for the three months
ended March 31, 2016, compared to a net loss of $1.37 million on
$1.20 million of revenue for the same period in 2015.

As of March 31, 2016, Semler had $3.42 million in total assets,
$5.08 million in total liabilities and a total stockholders'
deficit of $1.66 million.

Semler had cash of $1,441,000 at March 31, 2016, compared to
$405,000 at Dec. 31, 2015, and total current liabilities of
$3,123,000 at March 31, 2016, compared to $4,108,000 at Dec. 31,
2015.  As of March 31, 2016, the Company had negative working
capital of approximately $951,000.

"We have incurred recurring losses since inception and expect to
continue to incur losses as a result of costs and expenses related
to our marketing and other promotional activities, research and
continued development of our products and services.  Our principal
sources of cash have included the issuance of equity, including our
February 2014 initial public offering of common stock, and to a
lesser extent, recent private placement offerings of common stock,
borrowings under loan agreements, the issuance of promissory notes,
and revenue from leasing our product and selling our testing
services.  We expect that our operating expenses will continue to
grow in order to grow our revenues and, as a result, we will need
to generate significant additional net revenues to achieve
profitability.  For these reasons, our independent registered
public accountants' report for the year ended December 31, 2015
includes an explanatory paragraph that expresses substantial doubt
about our ability to continue as a "going concern."  This doubt
continues to exist."

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

                      http://is.gd/DIOCZR

                    About Semler Scientific

Semler Scientific, Inc. provides diagnostic and testing services to
healthcare insurers and physician groups.  The Portland,
Oregon-based Company develops, manufactures and markets innovative
proprietary products and services that assist healthcare providers
in evaluating and treating chronic diseases.

Semler Scientific reported a net loss attributable to common
stockholders of $8.50 million on $7 million of total revenue for
the year ended Dec. 31, 2015, compared to a net loss attributable
to common stockholders of $4.51 million on $3.63 million of total
revenue for the year ended Dec. 31, 2014.

BDO USA, LLP, in New York, New York, issued a "going concern"
qualification on the consolidated financial statements for the year
ended Dec. 31, 2015, citing that the Company has negative working
capital, a deficit in stockholders' equity, recurring losses from
operations and expects continuing future losses that raise
substantial doubt about its ability to continue as a going concern.


SH 130 CONCESSION: Asks Judge to Extend Deadline to Remove Suits
----------------------------------------------------------------
SH 130 Concession Company LLC has filed a motion seeking additional
time to remove lawsuits involving the company and its affiliates.

In its motion, the company asked the U.S. Bankruptcy Court for the
Western District of Texas to move the deadline for filing notices
of removal of the lawsuits to August 29, 2016.

                      About SH 130 Concession

Headquartered in Buda, Texas, SH 130 Concession Company, LLC (the
"Concessionaire") was formed to finance, develop, design,
construct, operate, and maintain segments five and six of Texas
State Highway 130 (the "Tollway") in partnership with the Texas
Department of Transportation.

The Concessionaire, Zachry Toll Road - 56 LP and Cintra TX 56 LLC
filed Chapter 11 bankruptcy petitions (Bankr. W.D. Tex. Case Nos.
16-10262, 16-10263 and 16-10264, respectively) on March 2, 2016.
The petitions were signed by Alfonso Orol as chief executive
officer.  The Debtors estimated both assets and debts in the range
of $1 billion to $10 billion.

Toll Road - 56 and TX 56 are holding companies that collectively
hold the equity interests in the Concessionaire.  They have no
operations and have no creditors.

The Debtors have engaged Gibson, Dunn & Crutcher LLP as general
counsel, Jackson Walker L.L.P. as local counsel, and Prime Clerk
LLC as notice, claims, solicitation, balloting and tabulation
agent.

Judge Tony M. Davis has been assigned the case.


SHOOT THE MOON: Court Orders Trustee to Pay $83K to Prime A
-----------------------------------------------------------
Lessor/creditor Prime A Investments, LLC, filed a "Motion to Compel
Assumption or Rejection of Leases, for Allowance of Administrative
Claim, and to Compel Payment of Administrative Rent."

Prime's Motion to Compel seeks, in addition to compelling the
Trustee to assume or reject leases, an Order compelling immediate
payment of administrative rent by the Trustee to Prime in the
amount of at least $59,329 under two leases of nonresidential real
property entered into between Prime as landlord and Shoot the Moon,
LLC, as tenant in the Gateway Marketplace in Meridian, Idaho. The
Chapter 11 Trustee Jeremiah J. Foster filed an objection and
requested more time to assume or reject the leases based on the
disarray of Debtor's financial records. The Trustee contended that
the amount of back rent is unknown and that requiring the Trustee
to immediately pay back rent will cause harm to the estate and to
other creditors and interested parties.

Judge Ralph B. Kirscher of the United States Bankruptcy Court for
the District of Montana overruled the Trustee's objections, granted
Prime's Motion to Compel and ordered the Trustee to pay Prime
immediately the sum of $83,600 in postpetition payments due under
the OTB shopping center lease of nonresidential real property from
Prime in the Gateway Marketplace in Meridian, Idaho, where the
Debtor formerly operated the On the Border Mexican Grill &
Cantina.

A full-text copy of the Memorandum of Decision dated April 12, 2016
is available at http://is.gd/SqU4Ibfrom Leagle.com.

The case is In re SHOOT THE MOON, LLC, Debtor, Case No. 15-60979-11
(Bankr. D. Mont.).

JEREMIAH J FOSTER, Trustee, is represented by TRENT N. BAKER, Esq.
-- tbaker@dmllaw.com -- DATSOPOULOS, MACDONALD & LIND, DAVID B.
COTNER, Esq. -- DAVID B. COTNER, -- DEL MILTON POST, DATSOPOULOS
MACDONALD & LIND PC.

OFFICE OF THE U.S. TRUSTEE, U.S. Trustee, is represented by NEAL G.
JENSEN, UNITED STATES TRUSTEE'S OFFICE, AARON GRAHAM YORK, OFFICE
OF THE US TRUSTEE.

UNSECURED CREDITORS, Creditor Committee, is represented by MICHAEL
T. CONWAY, Esq. -- mconway@goodwin.com -- Shipman & Goodwin LLP,
JONATHAN LAWRENCE GOLD, Esq. -- LECLAIRRYAN, PC, JANICE B. GRUBIN,
Esq. -- janice.grubin@leclairryan.com -- LECLAIRRYAN, PC, WARD E.
TALEFF, Esq.


SKYBRIDGE SPECTRUM: 341 Meeting of Creditors Set for May 17
-----------------------------------------------------------
The meeting of creditors of Skybridge Spectrum Foundation is set to
be held on May 17, 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.

                    About Skybridge Spectrum

Skybridge Spectrum Foundation filed a Chapter 11 bankruptcy
petition (Bankr. D. Del. Case No. 16-10626) on March 11, 2016.
Warren C. Havens signed the petition as president, sole director
and sole member.  The Debtor estimated assets in the range of $100
million to $500 million and debts of up to $500,000. Sullivan
Hazeltine Allinson LLC represents the Debtor as counsel.


SOUTHCROSS ENERGY: EIG BBTS Holdings Holds 66.3% Common Units
-------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, EIG BBTS Holdings, LLC, et al., disclosed that as of
May 2, 2016, they beneficially own 43,098,135 common units
representing limited partner interests of Southcross Energy
Partners, L.P. representing 66.3 percent of the Units outstanding.
A copy of the regulatory filing is available for free at
http://is.gd/UjpebF

           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.


SOUTHCROSS ENERGY: Southcross Holdings, et al., File 13D/A
----------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, Southcross Holdings Borrower LP, et al., disclosed that
as of April April 13, 2016, they beneficially own 43,098,135 common
units representing Limited Partner Interests of Southcross Energy
Partners, L.P., representing 66.3 percent of the Units outstanding.
A copy of the regulatory filing is available for free at
http://is.gd/Ff2yd5

             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.


SOUTHCROSS ENERGY: TW Southcross Files Schedule 13D/A with SEC
--------------------------------------------------------------
In an amended Schedule 13D filed with the Securities and Exchange
Commission, TW Southcross Aggregator LP, et al., disclosed that
they beneficially own 43,098,135 common units representing limited
partner interests of Southcross Energy Partners, L.P., representing
66.3 percent of the Units outstanding.  A copy of the regulatory
filing is available for free at http://is.gd/ZlCimu

                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.


SPORTS AUTHORITY: Wilmington Savings Fund Society Wants Protection
------------------------------------------------------------------
Wilmington Savings Fund Society, FSB, asks the U.S. Bankruptcy
Court for the District of Delaware for adequate protection.

Wilmington Savings Fund Society is the successor administrative and
collateral agent under the Amended and Restated Credit Agreement
between Debtor The Sports Authority, Inc. and Slap Shot Holdings
Corp and the lenders from time to time party thereto.

Wilmington Savings Fund Society relates that it has a perfected
security interest in the Prepetition Consigned Goods and the
Proceeds thereof.  It contends that the Debtors are presently
selling its collateral and paying the proceeds thereof to junior
creditors without providing adequate protection to it, in violation
of the Bankruptcy Code and in violation of the Fifth Amendment
Rights of the Term Loan Lenders and Wilmington Savings Fund
Society.

To the extent that the Debtors propose to continue paying the
proceeds of the Prepetition Consigned Goods to the Vendors,
Wilmington Savings Fund Society demands adequate protection to
fully compensate it and the Term Loan Lenders for the diminution of
their collateral that would be caused by such diversion of their
collateral proceeds to junior creditors.  

Wilmington Savings Fund Society, FSB is represented by:

         Robert J. Dehney, Esq.
         Gregory W. Werkheiser, Esq.
         Tamara K. Minott, Esq.
         MORRIS, NICHOLS, ARSHT & TUNNELL LLP
         1201 N. Market St., 16th Floor
         P.O. Box 1347
         Wilmington, DE 19899-1347
         Telephone: (302)658-9200
          Facsimile: (302)658-3989
          Email: rdehney@mnat.com
                 gwerkheiser@mnat.com
                 tminott@mnat.com

          - and -

          Robert J. Stark, Esq.
          William R. Baldiga, Esq.
          May Orenstein, Esq.
          Bennett S. Silverberg, Esq.
          BROWN RUDNICK LLP
          Seven Times Square
          New York, NY 10036
          Telephone: (212)209-4800
          Facsimile: (212)209-4801
          Email: rstark@brownrudnick.com
                 wbaldiga@brownrudnick.com
                 morenstein@brownrudnick.com
                 bsilverberg@brownrudnick.com


About Sports Authority Holdings, Inc.

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.



SRT SOLUTIONS: Must Pay 1100 Nasa Road's Admin. Claim for Rents
---------------------------------------------------------------
Judge Letitia Z. Paul of the United States Bankruptcy Court for the
Southern District of Texas, Houston Division, granted 1100 Nasa
Road, LP's Motion to Reject Unexpired Lease between Debtor and 1100
Nasa Road, LP, and Motion for Payment of Administrative Claim for
Post-Petition Rent.

In the instant case, the estate's obligation to pay rent under the
Lease of the Premises arose on the first day of each month. Debtor
did not properly notify Movant of the bankruptcy and did not seek
to reject the lease until February 8, 2016. Thus, the estate is
liable for an administrative expense consisting of the rent and
late fees for the months of November and December 2015, the month
of January 2016, and the pro rated amount for eight days of rent in
February 2016.

A full-text copy of the Memorandum Opinion is available at
http://is.gd/MBmKGXfrom Leagle.com.

The case is IN RE SRT SOLUTIONS, LLC, Debtor, Case No.
15-35572-H3-11.

SRT Solutions, LLC, Debtor, is represented by William P Haddock,
Esq. -- whaddock@pendergraftsimon.com -- Pendergraft & Simon,
Robert Lewis Pendergraft, Esq. -- rlp@pendergraftsimon.com --
Pendergraft & Simon, LLP, Leonard H. Simon, Esq. --
lsimon@pendergraftsimon.com -- Pendergraft & Simon, LLP.

US Trustee, U.S. Trustee, is represented by Ellen Maresh Hickman,
Office of the U S Trustee,

Official Committee of Unsecured Ceditors of SRT Solutions, LLC,
Creditor Committee, is represented by Steven A. Leyh, Esq. --
sleyh@lpmfirm.com -- Leyh, Payne & Mallia, PLLC.


STC INC: Court Overrules GTT's Objection to Plan Confirmation
-------------------------------------------------------------
STC, Inc., filed its First Amended Plan of Reorganization on
October 26, 2015, and the debtor's largest unsecured creditor,
Global Traffic Technologies, LLC, objected.

GTT objects that the Plan violates the absolute priority rule
because it allows the debtor's current equity holder, Brad Cross,
to retain equity in the reorganized debtor without satisfying GTT's
claim in full. GTT's objection is premised on the argument that it
is not receiving the present value of its claim under the Plan.

Judge Lara K. Grandy of the United States Bankruptcy Court for the
Southern District of Illinois found that the Plan meets the
requirements for confirmation and accordingly, overruled GTT's
objections to confirmation.

A full-text copy of the Opinion dated April 7, 2016 is available at
http://is.gd/j49NEKfrom Leagle.com.

The case is IN RE: STC, INC., Chapter 11, Debtor(s), Case No.
14-41014(Bankr. S.D. Ill.).

STC Inc., Debtor, is represented by John J Hall, Esq. --
jhall@lewisrice.com -- Lewis Rice LLC.

United States Trustee, U.S. Trustee, is represented by Mark D
Skaggs, US Trustees Office.


STEWARD HEALTH: S&P Affirms 'B-' CCR & Revises Outlook to Positive
------------------------------------------------------------------
S&P Global Ratings affirmed its 'B-' corporate credit rating on
Boston-based Steward Health Care System LLC and revised the outlook
to positive from stable.  At the same time, S&P affirmed its 'B-'
rating on the company's senior secured term loan.  The recovery
rating on this debt is '3', indicating expectations for meaningful
(50%-70%, at the lower end of the range) recovery to lenders in the
event of payment default.

"Our rating action on Steward follows the company's restructuring
of its pension obligations, which we believe materially improves
the company's balance sheet and cash flow prospects," said S&P
Global Ratings credit analyst Shannan Murphy.  Pro forma for the
pension obligation restructuring, the company's underfunded pension
balance (which S&P treats as debt) is reduced by over
$200 million, and required annual cash contributions to the
company's pension plans decline by about $30 million.  As a result,
S&P expects leverage to decline to around 3.0x in 2016 and the
company to generate about $15 million to $20 million in
discretionary cash flow, a meaningful departure from S&P's previous
expectation that leverage would be in the mid-4x area and the
company would generate only modest positive free cash flow this
year.  Still, the company has not yet generated cash flow over the
past four years.

The company's recent actions do not affect S&P's view of business
risk.  Steward is a low-cost, fully integrated provider of
community-based health care services narrowly focused on the
Massachusetts marketplace, a market that S&P views as highly
competitive because of the presence of several large academic
medical centers that account for a sizable portion of patient
discharges.  Steward, like other hospital systems, is subject to
significant reimbursement risks, and its large reliance on Medicare
leaves it susceptible to cuts in reimbursement rates.  In addition,
Steward's profitability, though slowly improving, is below average
when compared with other health care facility operators, including
other hospital systems.  While EBITDA margins have improved over
the past several quarters due to cost cutting (principally labor),
S&P believes that the company's higher reliance on government
reimbursement limits its ability to raise margins closer to peer
levels in the 15%-20% range.  For these reasons, S&P assess
business risk as vulnerable.

S&P's positive rating outlook reflects its expectation that Steward
will generate about $15 million to $20 million in discretionary
cash flow in 2016, as well as S&P's belief that the company could
reduce leverage and improve liquidity this year through repaying
amounts previously borrowed under its ABL.  Still, S&P sees risks
to the base case as Steward does not have a track record of
generating positive cash flow, and S&P would like to see at least
some cash generation before considering a higher rating.

S&P could revise the rating back to stable if Steward is unable to
generate positive free cash flow in 2016.  In S&P's view, this
could happen if the company experiences about 100 basis points of
margins erosion versus 2015 levels, which S&P now views as unlikely
given the trend of sequentially improving margins over the last few
quarters.  S&P could also revise its rating outlook back to stable
if the company's financial policies are more aggressive than S&P
currently anticipates, resulting in debt leverage that S&P expects
to be sustained above 5x over time.

S&P could raise the rating if it becomes more confident in its
base-case cash flow projections for 2016, including S&P's view that
the company is likely to use at least a portion of cash flow to
reduce borrowings under the ABL.  Under this scenario, S&P would
likely determine that credit quality is more similar to 'B' (as
opposed to 'B-') rated peers.  In S&P's view, it could become more
confident in S&P's projections if the company is able to generate
cash flow in the second quarter of this year.


TA CHUAN: Case Summary & 5 Unsecured Creditors
----------------------------------------------
Debtor: Ta Chuan, LLC
        5 Rabbits Run
        Palm Beach Gardens, FL 33418

Case No.: 16-03280

Chapter 11 Petition Date: May 6, 2016

Court: United States Bankruptcy Court
       Middle District of Tennessee (Columbia)

Judge: Hon. Marian F Harrison

Debtor's Counsel: Steven L. Lefkovitz, Esq.
                  LAW OFFICES LEFKOVITZ & LEFKOVITZ
                  618 Church St Ste 410
                  Nashville, TN 37219
                  Tel: 615 256-8300
                  Fax: 615 255-4516
                  E-mail: slefkovitz@lefkovitz.com

Total Assets: $2.40 million

Total Liabilities: $1.31 million

The petition was signed by Florine Steele, member.

A list of the Debtor's five largest unsecured creditors is
available for free at http://bankrupt.com/misc/tnmb16-03280.pdf


THERAPEUTICSMD INC: Files Copy of Investor Presentation with SEC
----------------------------------------------------------------
TherapeuticsMD, Inc., furnished to the Securities and Exchange
Commission a copy of an investor presentation which was used, in
whole or in part, and subject to modification, on May 4, 2016 and
at subsequent meetings with investors or analysts.  The
Presentation Materials is available for free at:

                     http://is.gd/FhNcg0

                     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.

As of Dec. 31, 2015, the Company had $73.7 million in total assets,
$10.7 million in total liabilities, all current, and $63.1 million
in total stockholders' equity.


THQ INC: Court Junks Preference Suit vs. Starcom
------------------------------------------------
In the adversary proceeding captioned THQ INC., Plaintiff, v.
STARCOM WORLDWIDE, INC., et al., Defendants, Adv. No. 14-51079
(MFW) (Bankr. D. Del.), THQ Inc. filed two Motions to Dismiss the
preference and fraudulent transfer complaint for failure to state a
claim upon which relief can be granted.

Judge Mary F. Walrath of the United States Bankruptcy Court,
District of Delaware granted the Motions to Dismiss the preference
claim, because the Complaint failed to adequately allege the nature
of the antecedent debt, the identities of the transferors and the
transferees, and the dates of the alleged transfers.  Judge Walrath
also dismissed the fraudulent transfer claim, because the the
plaintiff merely recites the statutory language without pleading
sufficient facts in support of its claim.  Because there are no
remaining avoidance claims, Judge Walrath also dismissed the
section 550 claim, the request for attorneys' fees and prejudgment
interest, and the request to disallow claims under section 502.
The plaintiff was granted leave to amend its Complaint.

The bankruptcy case is In re: THQ INC., et al., Chapter 11,
Debtors, Case No. 12-13398 (MFW) (Substantively Consolidated)
(Bankr. D. Del.).

A full-text copy of Judge Walrath's April 18, 2016 memorandum
opinion is available at http://is.gd/PX55HTfrom Leagle.com.

THQ Inc. is represented by:

          Julia Bettina Klein, Esq.
          Scott J. Leonhardt, Esq.
          THE ROSNER LAW GROUP LLC
          824 N. Market Street, Suite 810
          Wilmington, DE 19801
          Tel: (302)777-1111
          Email: klein@teamrosner.com
                 leonhardt@teamrosner.com

A&E Television Networks, LLC is represented by:

          Michael David Debaecke, Esq.
          BLANK ROME LLP
          1201 Market Street, Suite 800
          Wilmington, DE 19801
          Tel: (302)425-6400
          Fax: (302)425-6464
          Email: debaecke@blankrome.com

            -- and --

          Jeffrey A. Marks, Esq.
          VORYS, SATER, SEYMOUR AND PEASE LLP
          301 East Fourth Street, Suite 3500
          Great American Tower
          Cincinnati, OH 45202
          Tel: (513)723-4000
          Email: jamarks@vorys.com

Bleacher Report, Inc. is represented by:

          Tiffany Strelow Cobb, Esq.
          VORYS, SATER, SEYMOUR AND PEASE LLP
          52 East Gay Street
          Columbus, OH 43215
          Tel: (614)464-6400
          Fax: (614)464-6350
          Email: tscobb@vorys.com

Fox Entertainment Group, Inc. is represented by:

          Kevin G. Collins, Esq.
          BARNES & THORNBURG LLP
          1000 N. West Street, Suite 1500
          Wilmington, DE 19801-1050
          Tel: (302)300-3434
          Fax: (302)300-3456
          Email: kevin.collins@btlaw.com

IFC TV LLC is represented by:

          Damien Nicholas Tancredi, Esq.
          FLASTER/GREENBERG P.C.
          1201 N. Orange St., Suite 301
          Wilmington, DE 19801
          Tel: (302)351-1910
          Fax: (302)351-1919
          Email: damien.tancredi@flastergreenberg.com

Kappa Publishing Group, Inc. is represented by:

          Robert J. Downs, Esq.

Microsoft Online, Inc. is represented by:

          Carl N. Kunz, III, Esq.
          MORRIS JAMES LLP
          500 Delaware Avenue, Suite 1500
          Wilmington, DE 19899-2306
          Tel: (302)888-6800
          Fax: (302)571-1750
          Email: ckunz@morrisjames.com

WildTangent, Inc. is represented by:

          Donna L. Culver, Esq.
          MORRIS, NICHOLS, ARSHT & TUNNELL
          1201 North Market Street, 16th Floor
          Wilmington, DE 19899-1347
          Tel: (302)658-9200
          Fax: (302)658-3989
          Email: dculver@mnat.com

Specific Media, Inc. is represented by:

          Michael G. Busenkell, Esq.
          GELLERT SCALI BUSENKELL & BROWN, LLC
          1201 N. Orange Street, Suite 300
          Wilmington, DE 19801
          Tel: (302)425-5800
          Fax: (302)425-5814
          Email: mbusenkell@gsbblaw.com

                    About THQ Inc.

THQ Inc. (NASDAQ: THQI) -- http://www.thq.com/-- was a worldwide
developer and publisher of interactive entertainment software.  The
Company developed its products for all popular game systems,
personal computers, wireless devices and the Internet.
Headquartered in Los Angeles, California, THQ sold product through
its network of offices located throughout North America and
Europe.

THQ Inc. and its affiliates sought Chapter 11 protection (Bankr.
D. Del. Lead Case No. 12-13398) on Dec. 19, 2012.  Michael R.
Nestor, M. Blake Cleary and Jaime Luton Chapman at Young Conaway
Stargatt & Taylor, LLP; and Oscar Garza at Gibson, Dunn & Crutcher
LLP represent the Debtors.  FTI Consulting and Centerview Partners
LLC are the financial advisors.  Kurtzman Carson Consultants is
the claims and notice agent.

Before the bankruptcy, Clearlake signed a contract to buy Agoura
THQ for a price said to be worth $60 million.  After a 22-hour
auction with 10 bidders, the top offers brought a combined $72
million from several buyers who will split up the company. Judge
Walrath approved the sales in January.  Some of the assets didn't
sell, including properties the company said could be worth about
$29 million.

Roberta A. DeAngelis, U.S. Trustee for Region 3, appointed five
persons to serve in the Official Committee of Unsecured Creditors.
The Committee tapped Houlihan Lokey Capital as its financial
advisor and investment banker, Landis Rath & Cobb as co-counsel
and Andrews Kurth as counsel.

THQ Inc. and its debtor affiliates notified the U.S. Bankruptcy
Court for the District of Delaware that on Aug. 2, 2013, their
Second Amended Chapter 11 Plan of Liquidation became effective.


TOWN SPORTS: S&P Affirms 'CCC+' CCR, Outlook Negative
-----------------------------------------------------
S&P Global Ratings said that it affirmed its corporate credit
rating on New York City-based Town Sports International Holdings
Inc. at 'CCC+'.  The rating outlook is negative.

S&P also raised the issue-level rating on subsidiary Town Sports
International LLC's senior secured term loan due 2020 to 'CCC+'
from 'D'.  S&P's recovery rating on the company's secured credit
facilities is '4', reflecting its expectation that lenders would
receive average (30% to 50%; upper half of the range) recovery in
the event of a payment default.

The 'CCC+' corporate credit rating affirmation reflects a highly
leveraged capital structure that S&P believes is unsustainable over
the long term, the ongoing risk of a conventional default, and the
risk of another type of distressed debt restructuring in the
future.  S&P's forecast for reported debt to EBITDA is about 9x
through 2019, net of the $100.9 million in aggregate face value of
term loans that were repurchased since the inception of repurchase
activity through April of 2016 at a steep discount to par, and
assumes no additional term loan repurchases under the current
amendment to the credit facility.  The leverage forecast also
assumes Town Sports continues to experiment with pricing strategies
in its fitness clubs, there is no meaningful improvement in the 47%
member attrition rate experienced in 2015, and that the company
continues to try to reduce operating costs, leading to mid-single
digit revenue declines and a mid-single digit EBITDA margin through
2017.  The rating also reflects a high level of possible EBITDA and
cash flow variability compared to S&P's base-case forecast given a
revenue model that could remain in transition through 2017.  S&P
believes high cash balances of $62 million at March 2016 (pro forma
for $26 million used to repurchase term loans after the quarter's
end) and only a moderate level of anticipated negative free cash
flow in S&P's base-case forecast through 2017 will likely cover
fixed charges at least over the next year, lowering the risk of a
payment default over the near term.

Still, the rating reflects operations that are currently
vulnerable, which led Town Sports to recently repurchase its term
loan at a steep discount to par under an amendment to its credit
facility that allowed the company to buy back its debt, which S&P
views as the equivalent to a distressed restructuring and
tantamount to default.  S&P do not expect there to be material
future term loan debt repurchases allowed under this amendment and
any future material debt repurchases or distressed debt exchange
offers would be viewed as a separate restructuring action,
potentially resulting in another downgrade.

"We are upgrading the issue-level rating on the term loan to
'CCC+', as we are confident that the likelihood of further material
repurchases is remote, which we define as the completion of term
loan repurchases under the amendment to the credit facility through
a material depletion of cash balances available to complete
repurchases, or the elimination of the amendment allowing them.  It
is our understanding that Town Sports was able to repurchase its
term loan under the amendment only using cash at parent company
Town Sports International Holdings Inc., which was nearly depleted
as of May 3, 2016, and that the company cannot distribute more cash
or value out of its operating companies up to the parent holding
company under currently anticipated leverage levels.  Since the
company materially exhausted this source of cash we raised the
issue level rating to 'CCC+' from 'D', according to our recovery
and notching criteria.  If the company pursues another debt
restructuring of any form that we view as distressed, we could
again lower the corporate credit rating to 'SD' or 'D', as
appropriate, because we would view future potential actions under
this scenario as a separate restructuring," S&P said.

The negative outlook reflects S&P's view that Town Sports' capital
structure is unsustainable over the longer term because of its
distressed operations.  S&P believes Town Sports could experience
EBITDA and cash flow variability that is weaker than S&P's
base-case forecast given a revenue model that could remain in
transition through 2017.


TOWNSIDE CONSTRUCTION: Case Summary & 12 Unsecured Creditors
------------------------------------------------------------
Debtor: Townside Construction, Inc.
        608 S. Market Street
        Salem, VA 24153

Case No.: 16-70629

Chapter 11 Petition Date: May 6, 2016

Court: United States Bankruptcy Court
       Western District of Virginia (Roanoke)

Judge: Hon. Paul M. Black

Debtor's Counsel: Andrew S Goldstein, Esq.
                  MAGEE GOLDSTEIN LASKY & SAYERS, P.C.
                  P O BOX 404
                  Roanoke, VA 24003
                  Tel: 540 343-9800
                  E-mail: agoldstein@mglspc.com

Estimated Assets: $1 million to $10 million

Estimated Debts: $1 million to $10 million

The petition was signed by Jerry Grubb, secretary/treasurer.

A list of the Debtor's 12 largest unsecured creditors is available
for free at http://bankrupt.com/misc/vawb16-70629.pdf


TRAVELPORT WORLDWIDE: Posts $17 Million Net Income for 1st Quarter
------------------------------------------------------------------
Travelport Worldwide Limited filed with the Securities and Exchange
Commission its quarterly report on Form 10-Q disclosing net income
attributable to the Company of $16.6 million on $609 million of net
revenue for the three months ended March 31, 2016, compared to a
net loss attributable to the Company of $8.14 million on $572
million of net revenue for the same period in 2015.

As of March 31, 2016, Travelport had $2.96 billion in total assets,
$3.26 billion in total liabilities and a total deficit of $297
million.

Gordon Wilson, president and CEO of Travelport, commented:

"Travelport has delivered a positive start to the year which builds
on the momentum we established in 2015.  We continued to drive our
leadership positions in airline merchandising, hospitality, B2B
payments and mobile commerce, leading to particularly strong
International revenue growth, notably in Europe, Latin America and
Canada and Asia Pacific.  Air revenue benefited from our
geographical mix as well the further adoption and penetration of
our merchandising solutions - now implemented with around 160
airlines.  We continue to grow Beyond Air, up by 23% in the
quarter, with good growth again in hospitality, particularly in the
United States, Latin America and Canada. Moreover MTT, our mobile
commerce subsidiary, announced a number of new customer wins, and
our payments business, eNett, grew its revenue by 76% as it cleared
its backlog of customer implementations from last year and also
gained more share of business with existing clients.  These results
show our progress in delivering continued top and bottom line
growth and we re-affirm our full year guidance."

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

                      http://is.gd/TKhNnA

                   About Travelport Worldwide

Travelport Worldwide Limited is a travel commerce platform
providing distribution, technology, payment and other solutions for
the global travel and tourism industry.

                           *     *     *

As reported by the TCR on March 8, 2016, Standard & Poor's Ratings
Services raised to 'B+' from 'B' its long-term corporate credit
rating on U.K.-based travel services provider Travelport Worldwide
Ltd.  The outlook is stable.


TRIBUNE MEDIA: WTC's Appeal Goes to Third Circuit
-------------------------------------------------
Appellant Wilmington Trust Company filed a motion seeking
certification of this appeal directly to the United States Court of
Appeals for the Third Circuit.

WTC contends that certification is required because each of the
criteria of 28 U.S.C. Section 158(d)(2)(A) is met. First, WTC
argues that there is no controlling decision of the Supreme Court
or the Third Circuit Court of Appeals on whether unsecured
creditors are entitled to recover post-petition attorneys' fees as
part of their unsecured claim. WTC also argues that the court's
ruling is of significant public importance and if adopted by other
courts in this jurisdiction will "severely restrict unsecured
creditors' recourse to receive reimbursement of legal fees, which
effectively will limit such creditors' participation in the legal
process." WTC further argues that there is a split in decisions
within the Third Circuit. Finally, WTC contends that certification
will "materially advance the closing of these Chapter 11 cases."

Conversely, Debtor Tribune Media Company argues that certification
should be denied because the issue on appeal does not meet any of
the statutory criteria set forth in 28 U.S.C. Section 158(d)(2)(A).


Judge Gregory M. Sleet of the United States District Court for the
District of Delaware granted WTC's Certification Motion.
Certification is mandatory where a single condition is satisfied.
The court certified this appeal because there is no decision from
the Third Circuit or the Supreme Court that controls the legal
question raised in the motion for certification.

A full-text copy of the Memorandum Opinion dated April 12, 2016 is
available at http://is.gd/pjoiV1from Leagle.com.

The case is WILMINGTON TRUST COMPANY, Appellant, v. TRIBUNE MEDIA
COMPANY, et al., Debtors, C.A. No. 15-1116-GMS (D. Del.).

The bankruptcy case is IN RE: TRIBUNE MEDIA COMPANY, et al.,
Chapter 11, Debtors, Bankruptcy Case No. 08-13141-KJC (D. Del.).

Wilmington Trust Company, Appellant, represented by William D.
Sullivan, Sullivan, Hazeltine Allinson LLC & Elihu Ezekiel
Allinson, III, Sullivan, Hazeltine Allinson LLC.

Tribune Media Company, Appellee, represented by Norman L. Pernick,
Cole, Schotz, Meisel, Forman & Leonard, P.A., James F. Bendernagel,
Sidley Austin LLP, pro hac vice, James O. Johnston, Jones Day, pro
hac vice, Janet Kathleen Stickles, Cole, Schotz, Meisel, Forman &
Leonard, P.A. & Patrick J. Reilley, Cole, Schotz, Meisel, Forman &
Leonard, P.A..

Tribune Media, headquartered in Chicago, IL, benefits from
television assets including 42 broadcast stations in 33 markets
(each of the top five and seven of the top ten markets) reaching
44% of U.S. households and the WGN America network with 73 million
subscribers. Tribune Media holds minority equity interests in
several media enterprises including TV Food Network which
contribute cash distributions. The company emerged from Chapter 11
bankruptcy protection at the end of 2012 and certain creditors
prior to Chapter 11 filing are now shareholders with funds of
Oaktree Capital Management (roughly 15%) , Angelo, Gordon & Co. LP
(7%); and JPMorgan Chase (7%) being three of the four largest
shareholders and with designess on the board of directors.
Reported
revenue totaled $2.0 billion for LTM.


TRIUMPH GROUP: S&P Lowers Rating to 'BB-', Outlook Stable
---------------------------------------------------------
S&P Global Ratings said that it has downgraded Triumph Group Inc.
to 'BB-' from 'BB'.  The outlook is stable.

"The downgrade reflects the impact of the $1.3 billion in pre-tax
charges that the company announced in the fourth quarter of fiscal
year 2016 (ended March 31, 2016,) on its earnings and cash flow, as
well as the greater-than-expected declines in its revenue and
earnings in fiscal year 2017 from production cuts on certain
widebody and business jet aircraft," said S&P Global credit analyst
Chris Denicolo.  The proposed restructuring program -- which the
company expects will generate $300 million in annual savings by
fiscal year 2019 -- should improve Triumph's margins over the next
two to three years, though its EBITDA margins will likely not
return to their pre-2015 levels until fiscal year 2019 (and could
become more volatile during that period).  S&P also believes that
the company will refrain from undertaking material share
repurchases or debt-financed acquisitions until its restructuring
efforts are largely complete and its leverage has declined.  In
fiscal year 2017, S&P expects Triumph to post a debt-to-EBITDA
metric of greater than 4.5x and a funds from operations
(FFO)-to-debt ratio of 11%-13%, which should steadily improve
thereafter. The company's fiscal-year 2016 credit ratios are not
meaningful due to the $1.3 billion of pre-tax charges.

The stable outlook on Triumph reflects S&P's belief that the
company's proposed restructuring efforts should lower its cost
structure and improve its margins over the next few years.  S&P
expects Triumph's revenue to decline in fiscal year 2017 due to
decreased production levels on certain widebody and business jet
programs, though S&P believes that the company's revenue will
return to growth in fiscal year 2018.  S&P expects the company's
credit ratios to be weak in fiscal year 2017 with a debt-to-EBITDA
metric of greater than 4.5x, though S&P anticipates that this
measure will improve thereafter.

S&P could lower its ratings on Triumph if its debt-to-EBITDA metric
increases above 5x or its FFO-to-debt ratio declines below 12% over
the next 12 months and it appears unlikely that they will improve.
This could occur if the company is unsuccessful at improving its
profitability, if the production declines in certain programs are
greater than S&P currently expects, or if (less likely) the company
undertakes material share repurchases or debt-financed
acquisitions.

Although not likely in the next 12 months, S&P could raise its
ratings on Triumph if its restructuring efforts or
higher-than-expected demand cause its earnings to improve faster
than S&P envision in its current forecast such that its
debt-to-EBITDA metric declines below 4x.


TRUSTEES OF CONNEAUT LAKE: Court Refuses to Stay Insurance Ruling
-----------------------------------------------------------------
This is a declaratory judgment action involving a dispute regarding
the relative rights of the Debtor, Trustees of Conneaut Lake Park,
Inc., Plaintiff Park Restoration, LLC and certain tax creditors of
the Debtor specifically Summit Township, Crawford County, the Tax
Claim Bureau of Crawford County and Conneaut School District with
respect to fire insurance proceeds together with any interest that
has accrued on such sums, the "Insurance Proceeds" in the original
amount of $611,000.

On December 22, 2015, this Court determined that summary judgment
was appropriate and that (a) the Debtor is not an insured under the
applicable insurance policy, and is not entitled to be paid any of
the Insurance Proceeds, (b) the Taxing Authorities should be paid
$478,260.75 of the Insurance Proceeds, and (c) any principal sums
remaining of the Insurance Proceeds after payment to the Taxing
Authorities should be paid to the named insured—Park
Restoration.

After entry of summary judgment, the Taxing Authorities filed a
motion seeking payment of $478,260.75 of the Insurance Proceeds.
Unhappy that it was not awarded all of the Insurance Proceeds,
Plaintiff Park Restoration filed an appeal to the United States
District Court for the Western District of Pennsylvania. Park
Restoration also filed a Motion for Stay Pending Appeal.

Judge Jeffery A. Deller of the United States Bankruptcy Court for
the Western District of Pennsylvania denied Plaintiff Park
Restoration's Motion for Stay Pending Appeal as it has not met its
burden of proof.

Conversely, the Court granted Debtor stay pending appeal as it has
met its burden of proof for the entry of a stay as to any partial
distribution to Park Restoration pending the outcome of the
Debtor's cross appeal.

A full-text copy of the Memorandum Opinion dated April 12, 2016 is
available at http://is.gd/ocR3Vqfrom Leagle.com.

The adversary case is PARK RESTORATION, LLC, Plaintiff, v. SUMMIT
TOWNSHIP, a Municipal Corporation; THE TRUSTEES OF CONNEAUT LAKE
PARK, a Charitable Trust; CRAWFORD COUNTY, a Political Subdivision;
the TAX CLAIM BUREAU OF CRAWFORD COUNTY; and the CONNEAUT SCHOOL
DISTRICT, Defendants, Adversary No. 15-1010-JAD (Bankr. W.D. Pa.).

The bankruptcy case is IN RE: TRUSTEES OF CONNEAUT LAKE PARK, INC.,
Chapter 11 Debtor-in-Possession, Bankruptcy No. 14-11277-JAD
(Bankr. W.D. Pa.).

                  About Conneaut Lake Park

Conneaut Lake Park is a summer amusement resort, located in
Conneaut Lake, Pennsylvania.

Trustees of Conneaut Lake Park, Inc., filed a Chapter 11
bankruptcy
petition (Bankr. W.D. Pa. Case No. 14-11277) in Erie,
Pennsylvania,
on Dec. 4, 2014.  The case is assigned to Judge Thomas P. Agresti.


The Debtor tapped George T. Snyder, Esq., at Stonecipher Law Firm,
in Pittsburgh, as counsel.  The Debtor estimated assets and debt
of
$1 million to $10 million.

Trustees of Conneaut Lake Park filed for bankruptcy protection
less
than 20 hours before the Crawford County amusement park was
scheduled to go to sheriff's sale for almost $930,000 in back
taxes
and related fees.


U.S. STEEL: Fitch Assigns BB Rating on New $8.37% Secured Notes
---------------------------------------------------------------
Fitch Ratings has assigned United States Steel Corporation's (U.S.
Steel; NYSE: X) proposed 8.375% senior secured notes due July 1,
2021 a rating of 'BB/RR2.'  Collateral is to include, but not be
limited to, all of the U.S. Steel's equipment, investment property,
certain fixtures and owned real property as well as all general
intangibles, intellectual property and intellectual property
licenses.

Fitch has also downgraded U.S. Steel's senior unsecured notes to
'B-/RR6' from 'B+/RR4' given the additional senior secured debt
ahead of the senior unsecured notes in the capital structure.  Pro
forma for the repayment of unsecured notes, $2.2 billion in notes
are affected by this action.

Fitch rates U.S. Steel's Long-Term Issuer Default Rating (IDR)
'B+'/Negative Outlook.

                         KEY RATING DRIVERS

Recovery Analysis

In its recovery analysis, Fitch assumes a going concern EBITDA of
$550 million compared to the latest-12-month (LTM) March 31, 2016,
operating loss before interest, taxes and depreciation and
amortization of $151 million to reflect a recovery in flat-rolled
pricing and volumes as well as modest improvement in tubular.  For
2016, Fitch expects operating EBITDA of around $350 million.

Fitch assumes an enterprise value multiple of 5x which generates a
distressed going concern enterprise value of $2.8 billion.  Fitch
assumes administrative claims at $275 million or 10% of enterprise
value.  Fitch assumes the revolver is drawn to its $1.35 billion
capacity.  While this analysis indicates outstanding recovery for
the secured notes, Fitch constrained the recovery rating to 'RR2'
(71% - 90%) to reflect the less liquid nature of the collateral. In
its 8K filed May 2, 2016, U.S. Steel stated that the book value of
the fixtures, real estate, machinery and equipment included in the
collateral was approximately $2.2 billion, as of March 31, 2016.

The proceeds of the secured notes are to be used to repay debt
focusing on near-term maturities.  In its recovery analysis, Fitch
assumes that $900 million of the $933 million notes due 2017 and
2018 are repaid.  The recovery on the senior unsecured notes is
very sensitive to assumptions; the recovery rating has been
constrained to an 'RR6'.

Depressed Earnings/Cash Flow

Improvement in earnings and cash flow will require better oil
prices and reduced steel import competition.  While imports have
been declining, steel prices have been increasing.  Fitch views
current oil prices as unsustainably low; visibility into the timing
of full price and volume recovery is limited.

Lower rig counts have hit the company's oil country tubular goods
(OCTG) volumes.  The tubular segment shipments for 2015 were 593
thousand tons compared with 1.7 million tons in 2014 and 89
thousand tons in the first quarter of 2016 compared with 220
thousand tons in the first quarter of 2015.  U.S. Steel reports
that OCTG March inventories were estimated at 10 - 11 months of
supply and that the import share of first quarter demand was
projected to exceed 44%.

Fitch notes that steel product imports in the U.S. through March
2016, are down 36% from the same period of 2015.  Import
competition and weak raw material prices have filtered through to
lower steel prices.  Flat-rolled prices averaged $611/ton in the
first quarter 2016 compared with $695/ton on average for the full
year in 2015. Despite strong demand from autos, appliances and
construction, capacity utilization was 71% on average in 2015 and
the year through April of 2016.  Fitch Ratings believes that
margins are vulnerable when capacity utilization is below 80% and
that capacity utilization could remain below 80% through 2016.

Hard freeze of the pension fund, capacity closures, more efficient
raw materials sourcing, and better working capital management have
benefitted earnings and cash flows but not enough to offset the
impact of weaker demand and global overcapacity.

Pension

As of Dec. 31, 2015, the defined benefit pension plans were
underfunded by $735 million on a GAAP basis.  The plan was closed
to new entrants in 2003 and, effective Dec. 31, 2016, non-union
participants will cease to accrue additional benefits under the
plan.  Pension and other post-employment benefit costs were
$251 million for 2015 and cash payments were $189 million.  Costs
for 2016 are expected to be $93 million and cash payments are
expected to be $145 million.  U.S. Steel estimates that there will
be no mandatory contribution requirement for its main U.S.
defined-benefit pension plan in 2016.

Company Profile

The ratings reflect U.S. Steel's leading market positions in
flat-rolled and tubular steel in the U.S., together with its high
degree of control over its raw materials offset by the high fixed
costs of integrated steel producers.

U.S. Steel is the second largest North American flat-rolled steel
producer with capacity of 17 million tons; 2015 shipments were 11
million tons.  U.S. Steel is the largest integrated North American
tubular producer, with capacity of 2.8 million tons; 2015 shipments
were 593 thousand tons.  U.S. Steel also operates a five million
ton per year integrated steel operation in Kosice, Slovakia.

U.S. Steel's production of iron ore pellets including from its
share of joint ventures was 18.1 million tons in 2015, accounting
for a significant share of its needs.  In 2015, North American raw
steel produced was 11.3 million tons and, assuming 1.3 tons of iron
ore pellets are needed to produce 1 ton of raw steel, 14.7 million
tons of iron ore pellets were consumed.

                         KEY ASSUMPTIONS

Fitch's key assumptions within the rating case for U.S. Steel
include:

   -- Modest improvement for domestic flat-rolled and tubular
      products volumes in 2016 and 2017;
   -- Capital expenditures at guidance in 2016 and at maintenance
      levels in 2016 and 2017;
   -- Pricing is to improve modestly in 2016 and 2017.  For 2016,
      Fitch Base Case price assumptions are $650/ton for the Flat-
      rolled product segment, $1,200/ton for the Tubular segment,
      and $500/ton for the U.S. Steel Europe Segment; and
   -- Cost improvement is anticipated with Carnegie Way
      initiatives.

                        RATING SENSITIVITIES

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

   -- Deterioration in liquidity coupled with cash burn greater
      than $300 million in aggregate in 2016 and 2017;
   -- Weaker than expected operating results, whether from lack of

      recovery in tubular demand or from unfavorable resolution of

      trade cases, resulting in adjusted debt/EBITDAR sustainably
      above 4.5x.
   -- A debt financed recapitalization or debt financed
      acquisition.  Fitch views this event as unlikely

Positive: Future developments that may lead to a positive rating
action include:

   -- Debt levels materially reduced and free cash flow generation

      that is expected to be positive on average.
   -- Faster than expected turnaround in market dynamics allowing
      positive free cash flow generation.
   -- Total adjusted debt/EBITDAR sustainably below 4.0x.

                    LIQUIDITY AND DEBT STRUCTURE

Liquidity is strong over the next 24 months.  U.S. Steel generated
an operating loss before interest, taxes, and depreciation and
amortization of $151 million with negative free cash flow of $169
million after $230 in gross interest, capital expenditures of $476
million and dividends of $29 million in the latest 12 months ended
March 31, 2016.  As of March 31, 2016, cash on hand was $705
million; total debt was $3.1 billion; and the $1.5 billion facility
maturing in July 2020 was undrawn.  The facility has a 1x
fixed-charge coverage ratio requirement only at such times that
availability under the facility is less than the greater of 10% of
total commitments or $150 million.  U.S. Steel would not have met
the fixed-charge coverage ratio requirement of 1x and thus
availability under the facility was $1.35 billion.  The facility
could mature early (91 days prior to a senior note maturity) if
liquidity is less than $500 million plus the outstanding amount of
the notes maturing of which $300 million is availability under the
facility.  If the 2017 and 2018 issues are repaid with the proceeds
of the proposed secured notes and cash on hand, the next maturing
note issue is $600 million due in April 2020.  Fitch believes U.S.
Steel will generate neutral to slightly negative free cash flow in
2016.

Fitch expects the company will earn about $350 million in EBITDA
for 2016 resulting in very high financial leverage.  With partial
recovery in shipments and modest pricing improvement, Fitch expects
EBITDA to approach mid-cycle levels of about $800 million dropping
leverage to below 4x by the end of 2018.  Near-term scheduled
maturities of debt are $45 million in 2016, $494 million in 2017,
$500 million in 2018, $59 million in 2019 and $604 million in
2020.

FULL LIST OF RATINGS ACTIONS

Fitch rates this:

   -- $980 Million senior secured notes 'BB/RR2'.

Fitch downgrades these ratings:

   -- Senior unsecured notes to 'B-/RR6' from 'B+/RR4'.

Fitch currently rates United States Steel Corporation as:

   -- Long-Term IDR 'B+';
   -- Senior secured credit facility 'BB+/RR1';
   -- Senior Secured notes 'BB/RR2'; and
   -- Senior unsecured notes 'B-/RR6'.


VANGUARD HEALTHCARE: Hires BMC Group as Noticing Agent
------------------------------------------------------
Vanguard Healthcare, LLC, and its debtor affiliates seek permission
from the Bankruptcy Court to retain BMC Group, Inc. as their
noticing agent effective as of the Petition Date, to relieve the
Court and the Clerk's Office of the burdens associated with the
large number of creditors (approximately 700) and other
parties-in-interest involved in their Chapter 11 cases.

The Debtors request authority to compensate and reimburse BMC Group
in accordance with the payment terms, procedures and conditions set
forth in the Agreement for services rendered and expenses incurred
in connection with these cases.

Prior to the Petition Date, BMC Group was paid a retainer of
$5,000.

The Debtors request that the fees and expenses of BMC Group
incurred in the performance of the services be treated as an
administrative expense of their estates and be paid by them in the
ordinary course of business.

BMC Group represents it is not a creditor of the Debtors as of the
Petition Date and is a "disinterested person," as defined in
Section 101(14) of the Bankruptcy Code.

                   About Vanguard Healthcare

Vanguard is a long-term care provider headquartered in Brentwood,
Tennessee, providing rehabilitation and skilled nursing services at
14 facilities in four states (Florida, Mississippi, Tennessee and
West Virginia).

Vanguard Healthcare, LLC and 17 of its subsidiaries each filed a
Chapter 11 bankruptcy petition (Bankr. M.D Tenn. Proposed Lead Case
No. 16-03296) on May 6, 2016.  The petitions were signed by William
D. Orand as chief executive officer.  The Debtors estimated asets
in the range of $100 million to $500 million and liabilities of up
to $100 million.  

The Debtors have hired Bradley Arant Boult Cummings LLP as counsel
and BMC Group as noticing agent.

Judge Randal S. Mashburn has been assigned the cases.


VANGUARD HEALTHCARE: Seeks Joint Administration of Cases
--------------------------------------------------------
Vanguard Healthcare, LLC, and its debtor affiliates seek an order
from the Bankruptcy Court establishing certain notice, case
management and administrative procedures including: (a)
administratively consolidating the Chapter 11 cases, (b) limiting
the notice procedures in the Chapter 11 cases; and (c) designating
the parties upon whom notice must be served.

The Debtors said that by regulating the service, notice and filing
requirements at the outset of these cases, the Court will establish
a standard procedure for noticing of creditors and
parties-in-interest and minimize confusion regarding such important
procedural matters.  Further, the Debtors said these proposed
procedures will ease the Court's administration of these cases and
dramatically reduce the economic burdens on the Debtors' estates.

Specifically, the Debtors propose that every notice, motion or
application, and all briefs, memoranda, affidavits, declarations or
other documents will be subject to the notice procedures, unless
otherwise ordered by the Court.

"There are hundreds of creditors and potential creditors and many
other parties-in- interest involved in the Debtors' cases, each of
which may be entitled to certain notices, including notices under
Bankruptcy Rules 2002(a)(2) and (3).  In addition, the Debtors
expect many parties will file notices of appearance and requests
for notices and copies of pleadings as these cases proceed.  The
potential costs associated with copying and mailing or otherwise
serving all Filings on all creditors and parties in interest, as
well as all 2002 List Parties would impose an undue and expensive
administrative and economic burden on the Debtors' estates,"
according to William L. Norton III, Esq., at Bradley Arant Boult
Cummings LLP, counsel for the Debtors.

"Similarly, allowing electronic service of documents according to
the Notice Procedures will further reduce the administrative and
financial burden on the Debtors' estate, as well as on other
serving parties, and will, in many cases, allow for more expedient
service of documents," he added.

                    Proposed Notice Procedures

The Debtors propose that all filings in these cases shall be served
upon the following list of parties or entities:

   a. The Debtors and their counsel;

   b. The Office of the United States Trustee;

   c. Centers for Medicare & Medicaid Services;

   d. State of Tennessee Department of Health Division of Health
      Licensure and Regulation Office of Health Care Facilities;

   e. Florida Agency for Health Care Administration Division of
      Health Quality Assurance;

   f. Mississippi State Department of Health;

   g. West Virginia Department of Health and Human Resources;

   h. The parties listed in the Consolidated Unsecured Creditor
      List, as defined in the Motion of the Debtors for an Order
      Authorizing the Debtors to File a Consolidated List of
      Largest Unsecured Creditors, until such time as an unsecured
      creditor's committee is formed pursuant to Section 1102 of
      the Bankruptcy Code;

   i. Counsel to any official committee(s) established in these
      cases pursuant to Section 1102 of the Bankruptcy Code;

   j. All secured creditors and counsel;

   k. All Tennessee local counsel having entered a notice of
      appearance in these cases, but in each such case only one
      copy of the Filing regardless of how many creditors or
      parties-in-interest the Tennessee Local Counsel represents;
      and

   l. All parties requesting notice by filing a request for notice

      in the case.

BMC Group, Inc. will serve as the official notice agent in these
Chapter 11 cases.

The Debtors believe that adopting the Notice Procedures will
substantially reduce administrative burdens and result in
substantial cost savings to their estates because of the reduction
of time and money the Debtors will have to expend on the filings.

                     About Vanguard Healthcare

Vanguard is a long-term care provider headquartered in Brentwood,
Tennessee, providing rehabilitation and skilled nursing services at
14 facilities in four states (Florida, Mississippi, Tennessee and
West Virginia).

Vanguard Healthcare, LLC and 17 of its subsidiaries each filed a
Chapter 11 bankruptcy petition (Bankr. M.D Tenn. Proposed Lead Case
No. 16-03296) on May 6, 2016.  The petitions were signed by William
D. Orand as chief executive officer.  The Debtors estimated asets
in the range of $100 million to $500 million and liabilities of up
to $100 million.  

The Debtors have hired Bradley Arant Boult Cummings LLP as counsel
and BMC Group as noticing agent.

Judge Randal S. Mashburn has been assigned the cases.


VANGUARD HEALTHCARE: Voluntary Chapter 11 Case Summary
------------------------------------------------------
Debtor affiliates filing separate Chapter 11 bankruptcy petitions:

      Debtor                                   Case No.
      ------                                   --------
      Vanguard Healthcare, LLC                 16-03296
      Six Cadillac Drive, Suite 310
      Brentwood, TN 37027

      Vanguard Healthcare Services, LLC        16-03297

      Vanguard Financial Services, LLC         16-03298

      Aurora Australis, LLC                    16-03300

      Boulevard Terrace, LLC                   16-03302

      Elderscript Services, LLC                16-03306

      Eldercare of Jackson County, LLC         16-03308

      Glen Oaks, LLC                           16-03310

      Palace RBS, LLC                          16-03312

      Shady Lawn, LLC                          16-03313

      Vanguard of Ashland, LLC                 16-03314

      Vanguard of Church Hill, LLC             16-03315

      Vanguard of Crestview, LLC               16-03316

      Vanguard of Manchester, LLC              16-03317

      Vanguard of Memphis, LLC                 16-03318

      Vanguard of Ripley, LLC                  16-03319

      Vicksburg Convalescent, LLC              16-03321

      Whitehall OpCo, LLC                      16-03322

Type of Business: Vanguard is a long-term care provider
                  headquartered in Brentwood, Tennessee, providing
                  rehabilitation and skilled nursing services at
                  14 facilities in four states (Florida,
                  Mississippi, Tennessee and West Virginia).

Chapter 11 Petition Date: May 6, 2016

Court: United States Bankruptcy Court
       Middle District of Tennessee (Nashville)

Judge: Hon. Randal S Mashburn

Debtors' Counsel: William L. Norton, III, Esq.
                  BRADLEY ARANT BOULT CUMMINGS LLP
                  PO Box 340025
                  Nashville, TN 37203
                  Tel: 615 252-2397
                  Fax: 615-252-6397
                  Email: bnorton@babc.com

Debtors'          BMC GROUP
Noticing
Agent:

Estimated Assets: $100 million to $500 million

Estimated Debts: $50 million to $100 million

The petition was signed by William D. Orand, chief executive
officer.

The Debtors did not include a list of their largest unsecured
creditors when they filed the petitions.


VANGUARD HEALTHCARE: Wants to Use Cash Collateral of Capital One
----------------------------------------------------------------
Vanguard Healthcare LLC and its debtor affiliates seek authority
from the Bankruptcy Court to use cash collateral to fund their
working capital requirements and other financial needs during the
pendency of the Chapter 11 cases and pay costs and expenses of the
administration of the Chapter 11 cases.

The Debtors are all borrowers under a Credit Agreement dated July
29, 2011, in the original principal amount of $56,455,000 (the
"Capital One Term Loan").  The Debtors also have a revolving credit
facility in the current principal amount of approximately $6
million, originally with General Electric Capital Corporation, but
which was also acquired by Healthcare Financial Solutions in
December, 2015.  The Capital One Revolver is evidenced by a Credit
Agreement dated July 31, 2012, as amended.

Capital One acquired General Electric's Healthcare Financial
Services lending business in December, 2015, and combined that
business with Capital One's existing healthcare banking business to
form  Capital One Healthcare.

The Capital One Indebtedness is secured by a Guaranty and Security
Agreement dated as of July 29, 2011, through which the Debtors
pledged all assets.  These interests were perfected by UCC filings
on July 29, 2011.  According to the Debtors, other than the Credit
Agreements with Capital One, no other creditor has a lien on their
general assets.

As adequate protection for any Cash Collateral expended by the
Debtors, they propose to grant Capital One a perfected replacement
lien in all of their postpetition assets, which liens will have the
same priority to Capital One that existed as of the filing of the
Petition.

As further adequate protection, upon the entry of a final order
approving the Debtors' use of cash collateral, Capital One will be
entitled to (i) the payment of proceeds from the sale of any assets
sold outside the ordinary course of business by the Debtors in
amounts either established by agreement between the Debtors and
Capital One or by order of the Court, and (ii) monthly payments in
the amount of accrued interest on the Capital One Indebtedness that
has accrued at the non-default contract rate since the Petition
Date.

The Debtors assert that Capital One's interests are adequately
protected by virtue of the fact that the value of their assets
exceed the debt owed to Capital One by approximately $50 million.

                    About Vanguard Healthcare

Vanguard is a long-term care provider headquartered in Brentwood,
Tennessee, providing rehabilitation and skilled nursing services at
14 facilities in four states (Florida, Mississippi, Tennessee and
West Virginia).

Vanguard Healthcare, LLC and 17 of its subsidiaries each filed a
Chapter 11 bankruptcy petition (Bankr. M.D Tenn. Proposed Lead Case
No. 16-03296) on May 6, 2016.  The petitions were signed by William
D. Orand as chief executive officer.  The Debtors estimated asets
in the range of $100 million to $500 million and liabilities of up
to $100 million.  

The Debtors have hired Bradley Arant Boult Cummings LLP as counsel
and BMC Group as noticing agent.

Judge Randal S. Mashburn has been assigned the cases.


VERSO CORP: Ch. 11 Plan Goes to June 23 Confirmation Hearing
------------------------------------------------------------
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of
Delaware on May 9, 2016, approved the disclosure statement
explaining Verso Corporation, et al.'s Third Amended Joint Plan of
Reorganization and scheduled the confirmation hearing for June 23,
2016, at 10:00 a.m. (EDT).

Prior to the May 9 Disclosure Statement hearing, the Debtors filed
a Third Amended Plan and accompanying disclosure statement, to
incorporate the settlement of the tax dispute with the town of Jay,
Maine.

Pursuant to the settlement, in exchange for the Debtors' withdrawal
of pending challenges to Jay's assessments with respect to the
Androscoggin Assets, the Debtors will receive a tax credit of $4
million to be applied, in installments of $666,667 each, to the
Debtors' next six semi-annual tax payments to Jay, in addition to
all prior abatements granted.  As additional consideration, Jay has
agreed to extend additional credits if and as necessary to reduce
the Debtors' gross tax liabilities to Jay for property tax years
2016 through 2020 to amounts ranging from $4.75 million (for tax
year 2020) to $6.75 million (for tax year 2016), in all cases
before giving effect to the $666,667 credits and other
reimbursements and credits available under Maine law.

The deadline to file objections to the confirmation of the Plan
will be June 13.  The deadline to file a memorandum of law or an
affidavit in support of confirmation of the Plan and, if necessary,
a reply to any valid objection filed on or before the Plan
Objection Deadline is June 6.  All Ballots must be received on or
before June 13.

Under the Debtors' Plan holders of Allowed General Unsecured Claims
Against Asset Debtors will receive their pro rata share of $3
million in Cash under the Plan.  In addition, the Debtors will (a)
make payments totaling no less than 90% of the payments permitted
under the Final Order Authorizing the Debtors to Pay Prepetition
Claims of Critical Vendors, and (b) pay in full or reach
settlements with all Holders of Allowed Claims arising under
section 503(b)(9) of the Bankruptcy Code.  

The Debtors and Reorganized Debtors will irrevocably and
unconditionally release, waive, and discharge any Claims or Causes
of Action that they have, had, or may have that are based on
sections 544, 547, 548, 549 and/or 550 of the Bankruptcy Code and
analogous non-bankruptcy law for all purposes.  Additionally, the
Holders of NewPage Term Loan Claims, Verso 2012 First Lien Notes
Claims, Verso 2015 First Lien Notes Claims, and Verso Cash Flow
Claims will not receive any portion of the General Unsecured
Claims
Cash Distribution.

Under the Plan, 100% of the equity of Reorganized Verso will be
issued to the Debtors' existing creditors, subject to dilution by
equity issued to the Reorganized Debtors' employees under the
Management Incentive Plan and the Plan Warrants.

Specifically, holders of Allowed Verso First Lien Claims will
receive 50% of Reorganized Verso's equity (plus warrants to
purchase additional equity), holders of NewPage Roll-Up DIP Claims
and NewPage Term Loan Claims will receive 47% of Reorganized
Verso's equity, holders of Verso Senior Debt Claims will receive
2.85% of Reorganized Verso's equity, and holders of Verso
Subordinated Debt Claims will receive the remaining 0.15% of
Reorganized Verso's equity.

Blacklined versions of the Third Amended Chapter 11 Plan and
Disclosure Statement dated May 6, 2016, are available at
http://bankrupt.com/misc/VERSOplan0506.pdf

                    About Verso Corporation

Verso Corporation claims to be the leading North American producer
of coated papers, which are used primarily in magazines, catalogs,
high-end advertising brochures and annual reports, among other
media and marketing publications.  It employs approximately 5,200
personnel.

Verso Corporation and 26 of its affiliates, including
NewPage Corporation, filed Chapter 11 bankruptcy petitions
(Bankr. D. Del. Case Nos. 16-10163 to 16-10189, respectively) on
Jan. 26, 2016. The petitions were signed by David Paterson, the
president and CEO.

The Debtors disclosed total assets of $2.9 billion and total debts
of $3.87 million.

The Debtors have engaged O'Melveny & Myers LLP as general counsel,
Paul, Weiss, Rifkind, Wharton & Garrison LLP as corporate counsel,
Richards, Layton & Finger, P.A. as Delaware counsel, PJT Partners
L.P. as investment banker, Alvarez & Marsal North America, LLC as
financial advisor and Prime Clerk LLC as claims and noticing
agent.

The U.S. Trustee for Region 3 has appointed seven creditors of
Verso Corp. and its affiliates to serve on the official committee
of unsecured creditors.


VISUALANT INC: Files Amended Resale Prospectus with SEC
-------------------------------------------------------
Visualant, Incorporated, filed with the Securities and Exchange
Commission an amended Form S-1 registration statement relating to
the resale by Discover Growth Fund of up to 356,666 shares of the
Company's common stock that it may issue to the selling stockholder
upon conversion of Series B Redeemable Convertible Preferred Stock
at a conversion price of $7.50 per share, subject to certain
adjustments.

The Company's common stock is quoted on the OTCQB Marketplace,
operated by OTC Markets Group, under the symbol "VSUL".  On
March 29, 2016, the last reported sale price for the Company's
common stock on the OTCQB Marketplace was $6.68 per share.

On June 17, 2015, the Company effected a 1-for-150 reverse stock
split of the Company's common stock.  All warrant, option, share
and per share information in this prospectus gives retroactive
effect to the 1-for-150 split with all numbers rounded up to the
nearest whole share.

A full-text copy of the Form S-1/A is available for free at:

                         http://is.gd/osXlQw

                         About Visualant Inc.

Seattle, Wash.-based Visualant, Inc., was incorporated under the
laws of the State of Nevada on Oct. 8, 1998.  The Company
develops low-cost, high speed, light-based security and quality
control solutions for use in homeland security, anti-
counterfeiting, forgery/fraud prevention, brand protection and
process control applications.

Visualant reported a net loss of $2.63 million on $6.29 million of
revenue for the year ended Sept. 30, 2015, compared to a net loss
of $1.01 million on $7.98 million of revenue for the year ended
Sept. 30, 2014.

As of Dec. 31, 2015, the Company had $2.43 million in total assets,
$9.69 million in total liabilities, all current, and a total
stockholders' deficit of $7.25 million.

PMB Helin Donovan, LLP, in Seattle, Washington, issued a "going
concern" qualification on the consolidated financial statements for
the year ended Sept. 30, 2015, citing that Company has sustained a
net loss from operations and has an accumulated deficit since
inception.  These factors raise substantial doubt about the
Company's ability to continue as a going concern.


WILTON HOLDINGS: S&P Lowers CCR to 'CCC', Outlook Negative
----------------------------------------------------------
S&P Global Ratings lowered its corporate credit rating on
Woodbridge, Ill.–based Wilton Holdings Inc. to 'CCC' from 'B-'.
The outlook is negative.

At the same time, S&P lowered its issue-level rating on the
company's $400 million term loan due 2018 to 'CCC+' from 'B'.  The
recovery rating remains '2', indicating S&P's expectation for
substantial (70% to 90%, at the upper end of the range) recovery in
the event of a payment default.

S&P estimates as of March 31, 2016, Wilton had roughly $292 million
in reported debt outstanding. Including roughly $984 million in
preferred stock and $47 million in capitalized operating leases,
S&P estimates the company had roughly
$1.3 billion of adjusted debt.

"The downgrade reflects our belief that the company may not be able
to meet its increasing debt amortization during the next 12 months
and could default on its financial covenants, absent a refinancing,
debt restructuring, or equity infusion by its financial sponsor
owners," said S&P Global Ratings analyst Bea Chiem.  "Specifically,
we do not believe the company will be able to comply with its
senior secured net leverage covenant and possible springing
fixed-charge coverage ratio on its asset-backed loan, and will
unlikely meet its debt amortization step-up in 2017."

The food and paper crafting company's operating results were well
below S&P's expectations in 2015 full year and first quarter 2016,
following the loss of certain products, underperformance of product
lines at key retailers, greater retail pressure on pricing and
allowances, increasing private label competition, and a lack of new
product innovations to drive category growth.  Results were also
weakened by foreign currency impact from the weak Canadian dollar.
Net sales declined 5% in 2015 and adjusted EBITDA dropped 8%.
Notably, the company's key selling season, the fourth quarter, was
weak, with sales dropping 9% compared with 2014.  The weakness
accelerated into the first quarter ended March 31, 2016, with net
sales declining 14% and adjusted EBITDA falling over 40%. For the
12 months ended March 31, 2016, debt to EBITDA increased to 19x
(excluding preferred stock 4.9x) compared with 14x for the
prior-year period.  While the company has announced management
changes and initiatives to address its underperformance, S&P
believes it will take longer than the next 12 months to see
material improvements.

S&P Global Ratings estimates the company will have slightly
negative cash flow this year after factoring in its sizable $40
million term loan debt amortization in 2016.  Additionally, the
company has a large step-up in amortization to $95 million in 2017,
which S&P believes the company would not be able to fund because it
is greater than its operating cash flow generation. Additionally,
the company's $125 million ABL expires in August 2017, and it may
be difficult for the company to refinance or terms may be highly
unfavorable given its poor operating performance.  During the
second half of 2015, the company exchanged roughly $514 million of
holding company payment-in-kind notes into preferred equity and
amended its term loan covenant for more cushion.  While the
exchange and amendment provided temporary relief, the company's
recent weaker-than-expected operating performance along with its
sizable upcoming maturities, contribute to S&P's belief that
leverage will remain high, cash flow will be insufficient to cover
upcoming debt obligations, and a potential covenant or payment
default in the next 12 months is imminent.

S&P's financial risk assessment of the company reflects the
company's substantial debt obligations, the company's financial
sponsor ownership, and preferred equity units in the capital
structure.  S&P views the company's preferred stock as 100% debt
because S&P believes that its holders, the company's financial
sponsors, will likely seek a return on the instrument and there is
no stapling between the company's preferred and common stock in
which the preferred and common stock can be sold separately.

Wilton's business risk profile reflects S&P's view that the company
participates in the competitive and highly fragmented crafts
industry, which has low barriers to entry and a narrow product and
customer focus.  S&P believes the company's products are also
vulnerable to changes in consumer tastes and cutbacks in
discretionary spending.  Wilton is the largest food and paper
crafting company in the highly fragmented crafts industry, with
Wilton Enterprises (the food crafts division) accounting for about
70% of sales and EK Success Brands and Simplicity Creative
accounting for the balance.  The company holds solid shares of the
niche and fragmented cake decorating and bakeware categories, as
well as in numerous arts and crafts categories, including needle
crafts and beads.  Although the company has market-leading shares
and faces little competition from larger competitors, it is S&P's
opinion that barriers to market entry are low, characterized by low
capital expenditure requirements, which could lead to ongoing
pressure from private-label entrants.  In addition, Wilton is
exposed to customer concentration as its top 10 customers accounted
for over 70% of 2015 net sales.  Given that, S&P believes the loss
of any key customer would be detrimental to Wilton's operations.


WORLD IMPORTS: Unwaived Maritime Liens Enforceable, 3rd Cir. Says
-----------------------------------------------------------------
In a bankruptcy proceeding, OEC Group, New York ("OEC") asserted
maritime liens on goods then in its possession, and appealed a
ruling of the United States District Court for the Eastern District
of Pennsylvania that certain contractual modifications to those
liens were unenforceable.  Concluding that the modifications were
enforceable as to goods then in OEC's possession, the United States
Court of Appeals, Third Circuit reversed and remanded for the
District Court to craft an appropriate remedy.

The Third Circuit held that: "Given the strong presumption that OEC
did not waive its maritime liens on the Prepetition Goods, the
clear documentation that the parties intended such liens to survive
delivery, the familiar principle that a maritime lien may attach to
property substituted for the original object of the lien, and the
parties' general freedom to modify or extend existing liens by
contract, we conclude that the parties' agreement to apply those
unwaived liens toward the Current Goods is enforceable."

The case is In re: WORLD IMPORTS LTD., et al., Debtors. WORLD
IMPORTS, LTD.; WORLD IMPORTS CHICAGO, LLC; WORLD IMPORTS SOUTH,
LLC; 11000 LLC, v. OEC GROUP NEW YORK, Appellant, No. 15-1498 (3rd
Cir.).

A full-text copy of the Third Circuit's April 20, 2016 opinion is
available at http://is.gd/YIwrzVfrom Leagle.com.

Appellant is represented by:

          Dean E. Weisgold, Esq.
          DEAN E. WEISGOLD PC
          1835 Market Street, Suite 1215
          Philadelphia, PA 19103
          Tel: (215)599-0327
          Fax: (215)599-0322
          Email: weisgoldlaw@aol.com

            -- and --

          Brendan Collins, Esq.
          GKG LAW, PC
          1055 Thomas Jefferson Street NW
          Suite 500
          Washington, DC 20007-4492
          Tel: (202)342-5200
          Fax: (202)342-5219
          Email: bcollins@gkglaw.com

Appellee is represented by:

          David L. Braverman, Esq.
          John E. Kaskey, Esq.
          Brian J. Discount, Esq.
          BRAVERMAN KASKEY, P.C.
          One Liberty Place
          1650 Market Street, 56th Floor
          Philadelphia, PA 19103-7334
          Tel: (215)575-3800
          Fax: (215)575-3801

                    About World Imports

World Imports, Ltd., filed a Chapter 11 petition (Bankr. E.D. Pa.
Case No. 13-15929) on July 3, 2013, in Philadelphia.  Debtor-
affiliates World Imports South, LLC (Bankr. E.D. Pa. Case No.
13-15933), 11000 LLC (Bankr. E.D. Pa. Case No. 13-15934, and World
Imports Chicago, LLC (Bankr. E.D. Pa. Case No. 13-15935) filed
separate petitions for Chapter 11 relief.  The cases are jointly
administered under Case No. 13-15929.  John E. Kaskey, Esq., at
Braverman Kaskey, P.C., in Philadelphia, serves as counsel to the
Debtors.  World Imports, Ltd., estimated assets and debts of $10
million to $50 million.  World Imports South, LLC, estimated
assets of $1 million to $10 million.

Roberta A. DeAngelis, United States Trustee for Region 3,
appointed a 3-member Committee of Unsecured Creditors.  Fox
Rothschild LLP as counsel.


[*] Moody's: US Corporate Defaults Rise Since 2009 in Q1 2016
-------------------------------------------------------------
Commodity sectors led to a rise in US non-financial corporate
defaults to the most since the third quarter of 2009, Moody's
Investors Service says in its latest quarterly default monitor.
Cash flow pressures saw 11 oil and gas and five metals and mining
companies default in the first quarter of 2016, contributing 16 of
the quarter's 23 defaults.  In the final quarter of 2015, there
were 16 defaults including nine energy companies.

"Weakness in the commodities sector continued to push the US
speculative-grade default rate higher in the first three months of
this year, with oil and gas, and metals and mining companies
accounting for the bulk of defaults," said Moody's Senior Vice
President, John Puchalla.  "Our default risk indicators continue to
weaken, warning that the current upward default rate pressure would
increase if the US economy falters."

The US speculative-grade default rate rose to 4.1% in the first
quarter of 2016 from 3.2% the prior quarter, and is projected to
climb to 6.0% by the end of this year as oil and gas companies come
under continued pressure from the rout in energy prices, according
to Moody's new report "US Corporate Default Monitor - First Quarter
2016: Defaults and Restructuring Risk Indicators Jump in First
Quarter."  This would bring the default rate to its highest level
since July 2010.  The 18.5% one-year US speculative-grade default
rate for oil & gas and metals & mining companies in March was
significantly higher than the 1.9% rate for all other sectors.

Outside the commodities sector, seven companies defaulted in the
first quarter of 2016, in line with the fourth quarter and the
non-commodity quarterly average over the past two years. "Liquidity
and default pressures are much less pronounced outside of energy,"
Puchalla said.  "Slow economic growth, modest maturities over the
next year and a lack of widespread covenant issues have helped
limit the spread of default risk to other sectors."

Moody's Liquidity Stress Index (LSI) jumped to 10.2% in April from
6.8% at the end of 2015, but excluding commodities companies it
remained below average, at 5.3%.  Speculative-grade debt spreads
have also narrowed and new debt issuance is increasing.  But with
spec-grade yields and investor risk aversion higher than they were
a year ago, borrowing to fund investment and resolve liquidity
issues is more difficult, with the resulting drag on economic
activity heightening default risk.

Moody's subscribers can access this report at:

    http://www.moodys.com/viewresearchdoc.aspx?docid=PBC_1025620


[^] Large Companies with Insolvent Balance Sheet
------------------------------------------------
                                                 Total
                                                Share-      Total
                                    Total     Holders'    Working
                                   Assets       Equity    Capital
  Company         Ticker             ($MM)        ($MM)      ($MM)
  -------         ------           ------     --------    -------
ABSOLUTE SOFTWRE  OU1 GR            108.3        (42.6)     (41.9)
ABSOLUTE SOFTWRE  ABT CN            108.3        (42.6)     (41.9)
ABSOLUTE SOFTWRE  ABT2EUR EU        108.3        (42.6)     (41.9)
ABSOLUTE SOFTWRE  ALSWF US          108.3        (42.6)     (41.9)
ADV MICRO DEVICE  AMD US          2,981.0       (503.0)     898.0
ADV MICRO DEVICE  AMDCHF EU       2,981.0       (503.0)     898.0
ADV MICRO DEVICE  AMD SW          2,981.0       (503.0)     898.0
ADV MICRO DEVICE  AMD* MM         2,981.0       (503.0)     898.0
ADV MICRO DEVICE  AMD QT          2,981.0       (503.0)     898.0
ADV MICRO DEVICE  AMD TH          2,981.0       (503.0)     898.0
ADV MICRO DEVICE  AMD TE          2,981.0       (503.0)     898.0
ADV MICRO DEVICE  AMD GR          2,981.0       (503.0)     898.0
ADVANCED EMISSIO  ADES US            60.8        (25.0)     (24.2)
ADVENT SOFTWARE   ADVS US           424.8        (50.1)    (110.8)
AERIE PHARMACEUT  AERI US           139.2         (0.2)     104.6
AERIE PHARMACEUT  AERIEUR EU        139.2         (0.2)     104.6
AERIE PHARMACEUT  0P0 GR            139.2         (0.2)     104.6
AEROJET ROCKETDY  AJRD US         2,034.9       (145.5)     108.5
AEROJET ROCKETDY  GCY TH          2,034.9       (145.5)     108.5
AEROJET ROCKETDY  GCY GR          2,034.9       (145.5)     108.5
AIR CANADA        ACDVF US       13,503.0       (732.0)    (256.0)
AIR CANADA        ADH2 QT        13,503.0       (732.0)    (256.0)
AIR CANADA        ACEUR EU       13,503.0       (732.0)    (256.0)
AIR CANADA        ADH2 GR        13,503.0       (732.0)    (256.0)
AIR CANADA        ADH2 TH        13,503.0       (732.0)    (256.0)
AIR CANADA        AC CN          13,503.0       (732.0)    (256.0)
AK STEEL HLDG     AKS* MM         3,987.3       (611.6)     750.7
AK STEEL HLDG     AKS US          3,987.3       (611.6)     750.7
AK STEEL HLDG     AK2 TH          3,987.3       (611.6)     750.7
AK STEEL HLDG     AK2 GR          3,987.3       (611.6)     750.7
AMER RESTAUR-LP   ICTPU US           33.5         (4.0)      (6.2)
AMYLIN PHARMACEU  AMLN US         1,998.7        (42.4)     263.0
ANGIE'S LIST INC  8AL GR            182.4         (3.5)     (27.8)
ANGIE'S LIST INC  ANGI US           182.4         (3.5)     (27.8)
ARCH COAL INC     ACIIQ* MM       5,106.7     (1,244.3)  (4,361.0)
ARIAD PHARM       ARIACHF EU        546.7       (103.1)     142.9
ARIAD PHARM       APS TH            546.7       (103.1)     142.9
ARIAD PHARM       APS QT            546.7       (103.1)     142.9
ARIAD PHARM       ARIAEUR EU        546.7       (103.1)     142.9
ARIAD PHARM       APS GR            546.7       (103.1)     142.9
ARIAD PHARM       ARIA US           546.7       (103.1)     142.9
ARIAD PHARM       ARIA SW           546.7       (103.1)     142.9
ASPEN TECHNOLOGY  AST GR            439.4        (35.5)     (21.3)
ASPEN TECHNOLOGY  AZPN US           439.4        (35.5)     (21.3)
AUTOZONE INC      AZOEUR EU       8,366.4     (1,741.3)    (784.8)
AUTOZONE INC      AZ5 TH          8,366.4     (1,741.3)    (784.8)
AUTOZONE INC      AZ5 QT          8,366.4     (1,741.3)    (784.8)
AUTOZONE INC      AZ5 GR          8,366.4     (1,741.3)    (784.8)
AUTOZONE INC      AZO US          8,366.4     (1,741.3)    (784.8)
AVID TECHNOLOGY   AVID US           311.8       (303.6)     (75.2)
AVID TECHNOLOGY   AVD GR            311.8       (303.6)     (75.2)
AVINTIV SPECIALT  POLGA US        1,991.4         (3.9)     322.1
AVON - BDR        AVON34 BZ       3,629.1       (435.7)     604.6
AVON PRODUCTS     AVP* MM         3,629.1       (435.7)     604.6
AVON PRODUCTS     AVP CI          3,629.1       (435.7)     604.6
AVON PRODUCTS     AVP GR          3,629.1       (435.7)     604.6
AVON PRODUCTS     AVP US          3,629.1       (435.7)     604.6
AVON PRODUCTS     AVP TH          3,629.1       (435.7)     604.6
BARRACUDA NETWOR  CUDA US           419.8        (32.1)     (41.9)
BARRACUDA NETWOR  CUDAEUR EU        419.8        (32.1)     (41.9)
BARRACUDA NETWOR  7BM GR            419.8        (32.1)     (41.9)
BENEFITFOCUS INC  BTF GR            136.0        (26.7)       9.6
BENEFITFOCUS INC  BNFT US           136.0        (26.7)       9.6
BERRY PLASTICS G  BP0 GR          7,710.0        (67.0)     646.0
BERRY PLASTICS G  BERY US         7,710.0        (67.0)     646.0
BLUE BIRD CORP    BLBD US           251.0       (121.5)       1.5
BLUE BIRD CORP    1291067D US       251.0       (121.5)       1.5
BOMBARDIER INC-B  BBDBN MM       23,667.0     (3,442.0)   1,342.0
BOMBARDIER-B OLD  BBDYB BB       23,667.0     (3,442.0)   1,342.0
BOMBARDIER-B W/I  BBD/W CN       23,667.0     (3,442.0)   1,342.0
BRINKER INTL      BKJ GR          1,489.2       (243.7)    (225.6)
BRINKER INTL      EAT US          1,489.2       (243.7)    (225.6)
BRP INC/CA-SUB V  B15A GR         2,445.2        (14.1)     363.3
BRP INC/CA-SUB V  BRPIF US        2,445.2        (14.1)     363.3
BRP INC/CA-SUB V  DOO CN          2,445.2        (14.1)     363.3
BUFFALO COAL COR  BUC SJ             49.8        (19.3)      (2.2)
BURLINGTON STORE  BURL US         2,580.1        (99.0)      46.4
BURLINGTON STORE  BUI GR          2,580.1        (99.0)      46.4
CABLEVISION SY-A  CVC US          6,732.4     (4,832.9)    (257.2)
CABLEVISION SY-A  CVY TH          6,732.4     (4,832.9)    (257.2)
CABLEVISION SY-A  CVY GR          6,732.4     (4,832.9)    (257.2)
CABLEVISION SY-A  CVCEUR EU       6,732.4     (4,832.9)    (257.2)
CABLEVISION-W/I   CVC-W US        6,732.4     (4,832.9)    (257.2)
CABLEVISION-W/I   8441293Q US     6,732.4     (4,832.9)    (257.2)
CAMBIUM LEARNING  ABCD US           141.4        (74.2)     (54.9)
CASELLA WASTE     CWST US           620.4        (28.5)       0.3
CASELLA WASTE     WA3 GR            620.4        (28.5)       0.3
CEB INC           CEB US          1,295.2        (23.3)    (198.0)
CEB INC           FC9 GR          1,295.2        (23.3)    (198.0)
CEDAR FAIR LP     FUN US          2,003.8        (41.8)    (100.7)
CEDAR FAIR LP     7CF GR          2,003.8        (41.8)    (100.7)
CENTENNIAL COMM   CYCL US         1,480.9       (925.9)     (52.1)
CHARTER COM-A     CHTR US        40,524.0       (219.0)    (313.0)
CHARTER COM-A     CKZA TH        40,524.0       (219.0)    (313.0)
CHARTER COM-A     CKZA GR        40,524.0       (219.0)    (313.0)
CHOICE HOTELS     CZH GR            717.0       (395.9)     102.9
CHOICE HOTELS     CHH US            717.0       (395.9)     102.9
CINCINNATI BELL   CIB GR          1,444.6       (291.6)     (64.2)
CINCINNATI BELL   CBB US          1,444.6       (291.6)     (64.2)
CLEAR CHANNEL-A   C7C GR          6,357.2       (569.7)     656.6
CLEAR CHANNEL-A   CCO US          6,357.2       (569.7)     656.6
CLIFFS NATURAL R  CVA QT          1,886.3     (1,696.7)     352.2
CLIFFS NATURAL R  CVA TH          1,886.3     (1,696.7)     352.2
CLIFFS NATURAL R  CLF2EUR EU      1,886.3     (1,696.7)     352.2
CLIFFS NATURAL R  CVA GR          1,886.3     (1,696.7)     352.2
CLIFFS NATURAL R  CLF* MM         1,886.3     (1,696.7)     352.2
CLIFFS NATURAL R  CLF US          1,886.3     (1,696.7)     352.2
COGENT COMMUNICA  OGM1 GR           662.8        (12.3)     182.4
COGENT COMMUNICA  CCOI US           662.8        (12.3)     182.4
COHERUS BIOSCIEN  CHRS US           212.4         (6.9)      91.4
COHERUS BIOSCIEN  8C5 GR            212.4         (6.9)      91.4
COHERUS BIOSCIEN  8C5 TH            212.4         (6.9)      91.4
COHERUS BIOSCIEN  CHRSEUR EU        212.4         (6.9)      91.4
COLGATE-BDR       COLG34 BZ      12,448.0        (73.0)      27.0
COLGATE-CEDEAR    CL AR          12,448.0        (73.0)      27.0
COLGATE-PALMOLIV  CL* MM         12,448.0        (73.0)      27.0
COLGATE-PALMOLIV  CL US          12,448.0        (73.0)      27.0
COLGATE-PALMOLIV  CLCHF EU       12,448.0        (73.0)      27.0
COLGATE-PALMOLIV  CL SW          12,448.0        (73.0)      27.0
COLGATE-PALMOLIV  CPA GR         12,448.0        (73.0)      27.0
COLGATE-PALMOLIV  CLEUR EU       12,448.0        (73.0)      27.0
COLGATE-PALMOLIV  CPA TH         12,448.0        (73.0)      27.0
COLGATE-PALMOLIV  CPA QT         12,448.0        (73.0)      27.0
COMMUNICATION     CSAL US         2,542.6     (1,166.9)       -
COMMUNICATION     8XC GR          2,542.6     (1,166.9)       -
CPI CARD GROUP I  CPB GR            280.4        (86.6)      59.0
CPI CARD GROUP I  PMTS US           280.4        (86.6)      59.0
CPI CARD GROUP I  PNT CN            280.4        (86.6)      59.0
CYAN INC          YCN GR            112.1        (18.4)      56.9
CYAN INC          CYNI US           112.1        (18.4)      56.9
DELEK LOGISTICS   DKL US            379.2        (11.0)      22.1
DELEK LOGISTICS   D6L GR            379.2        (11.0)      22.1
DENNY'S CORP      DE8 GR            288.8        (57.4)     (48.9)
DENNY'S CORP      DENN US           288.8        (57.4)     (48.9)
DIRECTV           DTV US         25,321.0     (3,463.0)   1,360.0
DIRECTV           DTV CI         25,321.0     (3,463.0)   1,360.0
DIRECTV           DTVEUR EU      25,321.0     (3,463.0)   1,360.0
DOMINO'S PIZZA    DPZ US            820.8     (1,730.3)     292.8
DOMINO'S PIZZA    EZV TH            820.8     (1,730.3)     292.8
DOMINO'S PIZZA    EZV GR            820.8     (1,730.3)     292.8
DPL INC           DPL US          3,340.8        (62.2)    (453.8)
DUN & BRADSTREET  DNB US          2,273.6     (1,105.3)       0.4
DUN & BRADSTREET  DNB1EUR EU      2,273.6     (1,105.3)       0.4
DUN & BRADSTREET  DB5 GR          2,273.6     (1,105.3)       0.4
DUN & BRADSTREET  DB5 TH          2,273.6     (1,105.3)       0.4
DUNKIN' BRANDS G  2DB GR          3,093.9       (234.6)     117.3
DUNKIN' BRANDS G  2DB TH          3,093.9       (234.6)     117.3
DUNKIN' BRANDS G  DNKN US         3,093.9       (234.6)     117.3
DURATA THERAPEUT  DRTXEUR EU         82.1        (16.1)      11.7
DURATA THERAPEUT  DRTX US            82.1        (16.1)      11.7
DURATA THERAPEUT  DTA GR             82.1        (16.1)      11.7
EAST DUBUQUE NIT  RNF US            241.4       (166.3)      12.0
EASTMAN KODAK CO  KODN GR         2,066.0        (48.0)     861.0
EASTMAN KODAK CO  KODK US         2,066.0        (48.0)     861.0
EDGEN GROUP INC   EDG US            883.8         (0.8)     409.2
EMPIRE RESORTS I  NYNY US            65.4         (1.5)      (6.7)
EMPIRE RESORTS I  LHC1 GR            65.4         (1.5)      (6.7)
ENERGIZER HOLDIN  ENR US          1,584.4        (10.2)     643.2
ENERGIZER HOLDIN  ENR-WEUR EU     1,584.4        (10.2)     643.2
ENERGIZER HOLDIN  EGG GR          1,584.4        (10.2)     643.2
EPL OIL & GAS IN  EPA1 GR           563.6       (933.3)    (308.4)
EPL OIL & GAS IN  EPL US            563.6       (933.3)    (308.4)
ERIN ENERGY CORP  ERN SJ            376.2       (105.8)    (314.8)
EXELIXIS INC      EXEL US           492.5       (156.0)     238.4
EXELIXIS INC      EX9 TH            492.5       (156.0)     238.4
EXELIXIS INC      EXELEUR EU        492.5       (156.0)     238.4
EXELIXIS INC      EX9 GR            492.5       (156.0)     238.4
FAIRMOUNT SANTRO  FMSA US         1,369.0        (60.4)     274.0
FAIRPOINT COMMUN  FRP US          1,322.5         (1.5)      (4.1)
FAIRPOINT COMMUN  FONN GR         1,322.5         (1.5)      (4.1)
FIFTH STREET ASS  FSAM US           151.2         (1.7)       -
FREESCALE SEMICO  1FS GR          3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  FSLEUR EU       3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  1FS TH          3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  FSL US          3,159.0     (3,079.0)   1,264.0
FREESCALE SEMICO  1FS QT          3,159.0     (3,079.0)   1,264.0
GAMCO INVESTO-A   GBL US            104.0       (276.3)       -
GAMING AND LEISU  GLPI US         2,436.2       (258.8)     (98.7)
GAMING AND LEISU  2GL GR          2,436.2       (258.8)     (98.7)
GARDA WRLD -CL A  GW CN           1,982.6       (436.3)      69.1
GARTNER INC       IT US           2,211.5       (112.7)    (111.9)
GARTNER INC       GGRA GR         2,211.5       (112.7)    (111.9)
GENTIVA HEALTH    GTIV US         1,225.2       (285.2)     130.0
GENTIVA HEALTH    GHT GR          1,225.2       (285.2)     130.0
GLG PARTNERS INC  GLG US            400.0       (285.6)     156.9
GLG PARTNERS-UTS  GLG/U US          400.0       (285.6)     156.9
GOLD RESERVE INC  GDRZF US           15.0        (32.3)     (42.5)
GOLD RESERVE INC  GRZ CN             15.0        (32.3)     (42.5)
GOLD RESERVE INC  GOD GR             15.0        (32.3)     (42.5)
GRAHAM PACKAGING  GRM US          2,947.5       (520.8)     298.5
GYMBOREE CORP/TH  GYMB US         1,156.7       (337.9)      29.4
H&R BLOCK INC     HRB TH          2,874.0       (536.7)     631.6
H&R BLOCK INC     HRBEUR EU       2,874.0       (536.7)     631.6
H&R BLOCK INC     HRB GR          2,874.0       (536.7)     631.6
H&R BLOCK INC     HRB US          2,874.0       (536.7)     631.6
HCA HOLDINGS INC  2BH GR         32,776.0     (5,999.0)   3,803.0
HCA HOLDINGS INC  2BH TH         32,776.0     (5,999.0)   3,803.0
HCA HOLDINGS INC  HCA US         32,776.0     (5,999.0)   3,803.0
HCA HOLDINGS INC  HCAEUR EU      32,776.0     (5,999.0)   3,803.0
HECKMANN CORP-U   HEK/U US          531.3        (38.3)    (461.5)
HEWLETT-PACKA-WI  HPQ-W US       25,517.0     (4,909.0)  (1,606.0)
HOVNANIAN-A-WI    HOV-W US        2,552.7       (143.1)   1,501.0
HP INC            HWP QT         25,517.0     (4,909.0)  (1,606.0)
HP INC            7HP GR         25,517.0     (4,909.0)  (1,606.0)
HP INC            HPQCHF EU      25,517.0     (4,909.0)  (1,606.0)
HP INC            HPQ SW         25,517.0     (4,909.0)  (1,606.0)
HP INC            7HP TH         25,517.0     (4,909.0)  (1,606.0)
HP INC            HPQ US         25,517.0     (4,909.0)  (1,606.0)
HP INC            HPQ* MM        25,517.0     (4,909.0)  (1,606.0)
HP INC            HPQ CI         25,517.0     (4,909.0)  (1,606.0)
HP INC            HPQ TE         25,517.0     (4,909.0)  (1,606.0)
HUGHES TELEMATIC  HUTCU US          110.2       (101.6)    (113.8)
IDEXX LABS        IDXX US         1,478.6        (73.8)     (69.7)
IDEXX LABS        IX1 TH          1,478.6        (73.8)     (69.7)
IDEXX LABS        IX1 GR          1,478.6        (73.8)     (69.7)
IMMUNOGEN INC     IMGN US           222.3        (41.1)     153.5
IMMUNOGEN INC     IMU QT            222.3        (41.1)     153.5
IMMUNOGEN INC     IMU TH            222.3        (41.1)     153.5
IMMUNOGEN INC     IMU GR            222.3        (41.1)     153.5
IMMUNOMEDICS INC  IM3 TH             67.6        (45.0)      50.6
IMMUNOMEDICS INC  IM3 GR             67.6        (45.0)      50.6
IMMUNOMEDICS INC  IMMU US            67.6        (45.0)      50.6
INFOR US INC      LWSN US         6,778.1       (460.0)    (305.9)
INNOVIVA INC      INVA US           387.8       (362.0)     187.0
INNOVIVA INC      HVE GR            387.8       (362.0)     187.0
INTERNATIONAL WI  ITWG US           325.1        (11.5)      95.4
INVENTIV HEALTH   VTIV US         2,152.7       (771.1)     124.3
IONIX TECHNOLOGY  IINX US             0.0         (0.0)      (0.0)
IPCS INC          IPCS US           559.2        (33.0)      72.1
ISRAMCO INC       IRM GR            147.0         (2.9)      13.0
ISRAMCO INC       ISRLEUR EU        147.0         (2.9)      13.0
ISRAMCO INC       ISRL US           147.0         (2.9)      13.0
ISTA PHARMACEUTI  ISTA US           124.7        (64.8)       2.2
J CREW GROUP INC  JCG US          1,516.3       (769.0)      91.7
JACK IN THE BOX   JACK US         1,273.0        (60.1)    (103.2)
JACK IN THE BOX   JBX GR          1,273.0        (60.1)    (103.2)
JACK IN THE BOX   JACK1EUR EU     1,273.0        (60.1)    (103.2)
JUST ENERGY GROU  1JE GR          1,274.3       (673.6)     (97.6)
JUST ENERGY GROU  JE US           1,274.3       (673.6)     (97.6)
JUST ENERGY GROU  JE CN           1,274.3       (673.6)     (97.6)
KEMPHARM INC      1GD GR             55.7        (10.1)      45.7
KOPPERS HOLDINGS  KO9 GR          1,125.4        (12.4)     163.8
KOPPERS HOLDINGS  KOP US          1,125.4        (12.4)     163.8
L BRANDS INC      LTD TH          8,493.0       (258.0)   2,281.0
L BRANDS INC      LB US           8,493.0       (258.0)   2,281.0
L BRANDS INC      LTD GR          8,493.0       (258.0)   2,281.0
L BRANDS INC      LBEUR EU        8,493.0       (258.0)   2,281.0
L BRANDS INC      LB* MM          8,493.0       (258.0)   2,281.0
LEAP WIRELESS     LEAP US         4,662.9       (125.1)     346.9
LEAP WIRELESS     LWI GR          4,662.9       (125.1)     346.9
LEAP WIRELESS     LWI TH          4,662.9       (125.1)     346.9
LENNOX INTL INC   LXI GR          1,861.0        (73.3)     318.4
LENNOX INTL INC   LII US          1,861.0        (73.3)     318.4
LORILLARD INC     LLV TH          4,154.0     (2,134.0)   1,135.0
LORILLARD INC     LO US           4,154.0     (2,134.0)   1,135.0
LORILLARD INC     LLV GR          4,154.0     (2,134.0)   1,135.0
MADISON-A/NEW-WI  MSGN-W US         799.5     (1,167.1)     134.9
MAJESCOR RESOURC  MJXEUR EU           0.0         (0.1)      (0.1)
MANNKIND CORP     MNKD IT           126.4       (350.3)    (191.7)
MARRIOTT INTL-A   MAQ GR          6,121.0     (3,667.0)  (1,823.0)
MARRIOTT INTL-A   MAQ TH          6,121.0     (3,667.0)  (1,823.0)
MARRIOTT INTL-A   MAR US          6,121.0     (3,667.0)  (1,823.0)
MDC COMM-W/I      MDZ/W CN        1,571.6       (454.2)    (274.0)
MDC PARTNERS-A    MDCAEUR EU      1,571.6       (454.2)    (274.0)
MDC PARTNERS-A    MDZ/A CN        1,571.6       (454.2)    (274.0)
MDC PARTNERS-A    MDCA US         1,571.6       (454.2)    (274.0)
MDC PARTNERS-EXC  MDZ/N CN        1,571.6       (454.2)    (274.0)
MEAD JOHNSON      0MJA TH         4,016.8       (592.4)   1,392.1
MEAD JOHNSON      MJNEUR EU       4,016.8       (592.4)   1,392.1
MEAD JOHNSON      0MJA GR         4,016.8       (592.4)   1,392.1
MEAD JOHNSON      MJN US          4,016.8       (592.4)   1,392.1
MEDLEY MANAGE-A   MDLY US           121.5        (17.7)      53.8
MERITOR INC       MTOR US         2,093.0       (601.0)     146.0
MERITOR INC       AID1 GR         2,093.0       (601.0)     146.0
MERRIMACK PHARMA  MP6 GR            192.9       (217.1)      63.3
MERRIMACK PHARMA  MACK US           192.9       (217.1)      63.3
MICHAELS COS INC  MIM GR          2,023.3     (1,724.1)     594.9
MICHAELS COS INC  MIK US          2,023.3     (1,724.1)     594.9
MIDSTATES PETROL  MPO1EUR EU        679.2     (1,326.1)  (1,838.8)
MONEYGRAM INTERN  MGI US          4,280.0       (224.3)     (16.8)
MOODY'S CORP      MCO US          5,114.9       (351.5)   1,933.4
MOODY'S CORP      DUT TH          5,114.9       (351.5)   1,933.4
MOODY'S CORP      MCOEUR EU       5,114.9       (351.5)   1,933.4
MOODY'S CORP      DUT GR          5,114.9       (351.5)   1,933.4
MOTOROLA SOLUTIO  MSI US          9,049.0       (137.0)   1,969.0
MOTOROLA SOLUTIO  MOT TE          9,049.0       (137.0)   1,969.0
MOTOROLA SOLUTIO  MTLA GR         9,049.0       (137.0)   1,969.0
MOTOROLA SOLUTIO  MTLA TH         9,049.0       (137.0)   1,969.0
MOTOROLA SOLUTIO  MTLA QT         9,049.0       (137.0)   1,969.0
MPG OFFICE TRUST  1052394D US     1,280.0       (437.3)       -
MSG NETWORKS- A   MSGN US           799.5     (1,167.1)     134.9
MSG NETWORKS- A   1M4 TH            799.5     (1,167.1)     134.9
MSG NETWORKS- A   1M4 GR            799.5     (1,167.1)     134.9
NATHANS FAMOUS    NFA GR             81.0        (65.2)      57.4
NATHANS FAMOUS    NATH US            81.0        (65.2)      57.4
NATIONAL CINEMED  XWM GR          1,084.3       (171.7)      84.6
NATIONAL CINEMED  NCMI US         1,084.3       (171.7)      84.6
NAVIDEA BIOPHARM  NAVB IT            15.0        (53.8)       6.4
NAVISTAR INTL     IHR TH          5,980.0     (5,190.0)     139.0
NAVISTAR INTL     NAV US          5,980.0     (5,190.0)     139.0
NAVISTAR INTL     IHR GR          5,980.0     (5,190.0)     139.0
NEFF CORP-CL A    NEFF US           672.3       (169.4)       0.4
NEKTAR THERAPEUT  ITH GR            491.9         (0.3)     278.9
NEKTAR THERAPEUT  NKTR US           491.9         (0.3)     278.9
NEW ENG RLTY-LP   NEN US            202.2        (30.8)       -
NORTHERN OIL AND  NOG US            733.9       (197.6)      50.7
NORTHERN OIL AND  4LT GR            733.9       (197.6)      50.7
NTELOS HOLDINGS   NTLS US           643.0        (39.0)     106.7
OCH-ZIFF CAPIT-A  35OA GR         1,255.3       (183.7)       -
OCH-ZIFF CAPIT-A  OZM US          1,255.3       (183.7)       -
OMEROS CORP       OMER US            49.0        (26.2)      20.9
OMEROS CORP       3O8 TH             49.0        (26.2)      20.9
OMEROS CORP       3O8 GR             49.0        (26.2)      20.9
OMEROS CORP       OMEREUR EU         49.0        (26.2)      20.9
OMTHERA PHARMACE  OMTH US            18.3         (8.5)     (12.0)
ONCOMED PHARMACE  OMED US           204.9        (19.8)     149.9
ONCOMED PHARMACE  O0M GR            204.9        (19.8)     149.9
PALM INC          PALM US         1,007.2         (6.2)     141.7
PBF LOGISTICS LP  11P GR            433.6       (180.7)      34.2
PBF LOGISTICS LP  PBFX US           433.6       (180.7)      34.2
PENN NATL GAMING  PN1 GR          5,138.8       (678.0)    (185.3)
PENN NATL GAMING  PENN US         5,138.8       (678.0)    (185.3)
PHILIP MORRIS IN  PMI EB         34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  PMI1 IX        34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  PM FP          34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  PM US          34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  4I1 TH         34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  PM1CHF EU      34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  PM1EUR EU      34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  PMI SW         34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  4I1 QT         34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  PM1 TE         34,621.0    (10,894.0)   1,837.0
PHILIP MORRIS IN  4I1 GR         34,621.0    (10,894.0)   1,837.0
PLANET FITNESS-A  PLNT US           699.2         (1.1)       6.7
PLANET FITNESS-A  3PL GR            699.2         (1.1)       6.7
PLANET FITNESS-A  3PL TH            699.2         (1.1)       6.7
PLAYBOY ENTERP-A  PLA/A US          165.8        (54.4)     (16.9)
PLAYBOY ENTERP-B  PLA US            165.8        (54.4)     (16.9)
PLY GEM HOLDINGS  PG6 GR          1,285.9        (76.8)     256.1
PLY GEM HOLDINGS  PGEM US         1,285.9        (76.8)     256.1
POLYMER GROUP-B   POLGB US        1,991.4         (3.9)     322.1
PROTECTION ONE    PONE US           562.9        (61.8)      (7.6)
QUALITY DISTRIBU  QDZ GR            413.0        (22.9)     102.9
QUALITY DISTRIBU  QLTY US           413.0        (22.9)     102.9
QUINTILES TRANSN  QTS GR          3,982.9       (205.9)     859.0
QUINTILES TRANSN  Q US            3,982.9       (205.9)     859.0
REGAL ENTERTAI-A  RGC US          2,632.3       (877.6)    (113.1)
REGAL ENTERTAI-A  RETA GR         2,632.3       (877.6)    (113.1)
REGAL ENTERTAI-A  RGC* MM         2,632.3       (877.6)    (113.1)
RENAISSANCE LEA   RLRN US            57.0        (28.2)     (31.4)
RENTECH NITROGEN  2RN GR            241.4       (166.3)      12.0
RENTPATH LLC      PRM US            208.0        (91.7)       3.6
REVLON INC-A      REV US          2,014.3       (587.5)     351.9
REVLON INC-A      RVL1 GR         2,014.3       (587.5)     351.9
ROUNDY'S INC      RNDY US         1,095.7        (92.7)      59.7
ROUNDY'S INC      4R1 GR          1,095.7        (92.7)      59.7
RURAL/METRO CORP  RURL US           303.7        (92.1)      72.4
RYERSON HOLDING   RYI US          1,556.2       (140.8)     643.0
RYERSON HOLDING   7RY TH          1,556.2       (140.8)     643.0
RYERSON HOLDING   7RY GR          1,556.2       (140.8)     643.0
SANCHEZ ENERGY C  SN* MM          1,542.3       (456.2)     499.1
SANCHEZ ENERGY C  SN US           1,542.3       (456.2)     499.1
SANCHEZ ENERGY C  13S TH          1,542.3       (456.2)     499.1
SANCHEZ ENERGY C  13S GR          1,542.3       (456.2)     499.1
SBA COMM CORP-A   SBJ GR          7,371.6     (1,630.6)      49.5
SBA COMM CORP-A   SBJ TH          7,371.6     (1,630.6)      49.5
SBA COMM CORP-A   SBACEUR EU      7,371.6     (1,630.6)      49.5
SBA COMM CORP-A   SBAC US         7,371.6     (1,630.6)      49.5
SCIENTIFIC GAM-A  SGMS US         7,690.7     (1,583.9)     516.3
SCIENTIFIC GAM-A  TJW GR          7,690.7     (1,583.9)     516.3
SEARS HOLDINGS    SEE TH         11,337.0     (1,956.0)     607.0
SEARS HOLDINGS    SHLD US        11,337.0     (1,956.0)     607.0
SEARS HOLDINGS    SEE QT         11,337.0     (1,956.0)     607.0
SEARS HOLDINGS    SEE GR         11,337.0     (1,956.0)     607.0
SECTOR 5 INC      SECT US             0.0         (0.0)      (0.0)
SENSEONICS HLDGS  SENS US             5.5         (9.7)      (2.4)
SILVER SPRING NE  SSNI US           457.7        (33.9)       5.7
SILVER SPRING NE  9SI TH            457.7        (33.9)       5.7
SILVER SPRING NE  9SI GR            457.7        (33.9)       5.7
SIRIUS XM CANADA  XSR CN            292.9       (134.0)    (172.0)
SIRIUS XM CANADA  SIICF US          292.9       (134.0)    (172.0)
SIRIUS XM HOLDIN  RDO TH          7,928.2       (563.9)  (1,942.3)
SIRIUS XM HOLDIN  RDO GR          7,928.2       (563.9)  (1,942.3)
SIRIUS XM HOLDIN  SIRI US         7,928.2       (563.9)  (1,942.3)
SONIC CORP        SONC US           606.7        (33.2)      15.5
SONIC CORP        SO4 GR            606.7        (33.2)      15.5
SONIC CORP        SONCEUR EU        606.7        (33.2)      15.5
SPORTSMAN'S WARE  SPWH US           303.0         (2.1)     104.8
SPORTSMAN'S WARE  06S GR            303.0         (2.1)     104.8
SUPERVALU INC     SJ1 GR          4,370.0       (433.0)      63.0
SUPERVALU INC     SJ1 TH          4,370.0       (433.0)      63.0
SUPERVALU INC     SVU US          4,370.0       (433.0)      63.0
SWIFT ENERGY CO   SWTF US           525.0       (852.7)    (271.2)
SYNDAX PHARMACEU  1T3 GR             12.8         (5.7)       2.1
SYNDAX PHARMACEU  SNDX US            12.8         (5.7)       2.1
TAILORED BRANDS   TLRD US         2,244.3       (100.1)     723.6
TAILORED BRANDS   WRMA GR         2,244.3       (100.1)     723.6
TRANSDIGM GROUP   TDG US          8,330.0       (964.3)   1,204.3
TRANSDIGM GROUP   TDGCHF EU       8,330.0       (964.3)   1,204.3
TRANSDIGM GROUP   TDG SW          8,330.0       (964.3)   1,204.3
TRANSDIGM GROUP   TDGEUR EU       8,330.0       (964.3)   1,204.3
TRANSDIGM GROUP   T7D GR          8,330.0       (964.3)   1,204.3
TRINITY PLACE HO  TPHS US            56.3         (3.3)       -
UNISYS CORP       USY1 GR         2,265.1     (1,354.3)     261.5
UNISYS CORP       UISEUR EU       2,265.1     (1,354.3)     261.5
UNISYS CORP       USY1 TH         2,265.1     (1,354.3)     261.5
UNISYS CORP       UIS US          2,265.1     (1,354.3)     261.5
UNISYS CORP       UIS1 SW         2,265.1     (1,354.3)     261.5
UNISYS CORP       UISCHF EU       2,265.1     (1,354.3)     261.5
VECTOR GROUP LTD  VGR US          1,228.8       (153.9)     335.3
VECTOR GROUP LTD  VGR GR          1,228.8       (153.9)     335.3
VENOCO INC        VQ US             403.8       (354.3)     195.7
VERISIGN INC      VRS TH          2,323.7     (1,108.0)     464.3
VERISIGN INC      VRS GR          2,323.7     (1,108.0)     464.3
VERISIGN INC      VRSN US         2,323.7     (1,108.0)     464.3
VERIZON TELEMATI  HUTC US           110.2       (101.6)    (113.8)
VIEWRAY INC       VRAY US            52.2         (7.0)      15.5
VIRGIN MOBILE-A   VM US             307.4       (244.2)    (138.3)
WEIGHT WATCHERS   WW6 TH          1,422.1     (1,285.7)    (144.2)
WEIGHT WATCHERS   WW6 GR          1,422.1     (1,285.7)    (144.2)
WEIGHT WATCHERS   WTWEUR EU       1,422.1     (1,285.7)    (144.2)
WEIGHT WATCHERS   WTW US          1,422.1     (1,285.7)    (144.2)
WEST CORP         WT2 GR          3,522.7       (536.2)     231.2
WEST CORP         WSTC US         3,522.7       (536.2)     231.2
WESTERN REFINING  WR2 GR            487.3        (73.7)      36.7
WESTERN REFINING  WNRL US           487.3        (73.7)      36.7
WINGSTOP INC      EWG GR            121.1         (9.7)       7.1
WINGSTOP INC      WING US           121.1         (9.7)       7.1
WINMARK CORP      WINA US            43.8        (27.3)      12.0
WINMARK CORP      GBZ GR             43.8        (27.3)      12.0
WORKHORSE GROUP   WKHS US            14.6         (3.8)      (7.5)
YRC WORLDWIDE IN  YRCW US         1,863.8       (392.7)     178.1
YRC WORLDWIDE IN  YEL1 TH         1,863.8       (392.7)     178.1
YRC WORLDWIDE IN  YEL1 QT         1,863.8       (392.7)     178.1
YRC WORLDWIDE IN  YRCWEUR EU      1,863.8       (392.7)     178.1
YRC WORLDWIDE IN  YEL1 GR         1,863.8       (392.7)     178.1


                            *********

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 ***